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Page 1
Pada tahun 2025, penyaluran Pinjaman Daerah 25, the disbursement of Activity-Based Assignment
Penugasan Berbasis Kegiatan (Pinjaman Pemda) oleh Regional Loans (Regional Government Loans) by PT
PT SMI berdasarkan lokasi wilayah proyek disajikan SMI based on project locations is presented in the
pada grafik di bawah ini. chart below.
Komitmen Outstanding
Commitment
16,2%
42,6%
57,4%
83,8%
Sulawesi Kalimantan
Dalam periode 2015–2025, PT SMI telah menerbitkan During the period 2015–2025, PT SMI has issued 94
94 Offering Letter (“OL”) untuk Pinjaman Daerah Offering Letters (“OL”) for Regular Regional Loans with
Reguler dengan total nilai fasilitas pinjaman sebesar a total loan facility value of IDR15,839 billion, with the
Rp15.839 miliar, dengan rekapitulasi sebagai berikut: following recapitulation:
Tahun Jumlah Fasilitas Nilai (Rp miliar)
Year Total Facilities Value (IDR billion)
2015 4 831
2016 10 2648
2017 19 3264
2018 20 2939
2019 20 2373
2020 7 1867
2021 7 650
2022 5 186
2023 1 80
2024 1 1000
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
2025 0 0
Jumlah | Total 15.839
2. Pinjaman Daerah Reguler Non-Penugasan Berbasis 2. Activity-Based Regular Non-Assignment Regional
Kegiatan Loans
Dengan terbitnya Undang-Undang Nomor 1 Tahun With the enactment of Law No. 1 of 2022 concerning
2022 tentang Hubungan Keuangan antara Pemerintah Financial Relations between the Central Government
Pusat dan Pemerintah Daerah (“UU HKPD”) dan and Regional Governments (“UU HKPD”) and
Peraturan Pemerintah Nomor 1 Tahun 2024 tentang Government Regulation No. 1 of 2024 concerning the
Harmonisasi Kebijakan Fiskal Nasional (“PP HKFN”), Harmonization of National Fiscal Policy (“PP HKFN”),
pembiayaan utang daerah dapat bersumber regional debt financing can be sourced from Non-
dari Lembaga Keuangan Bukan Bank (LKBB) yang Bank Financial Institutions (LKBB), in accordance with
dilaksanakan sesuai dengan ketentuan pemberi the applicable regulations of the financing provider.
pembiayaan. Berdasarkan hal tersebut PT SMI sebagai Based on these provisions, PT SMI, as an LKBB, is able
LKBB dapat memberikan pembiayaan utang daerah to provide regional loan financing to public institutions
kepada instansi publik dalam bentuk konvensional in both conventional and sharia schemes. As of
271
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
maupun syariah. Hingga Desember 2025, PT SMI December 2025, PT SMI has recorded the following
telah mencatatkan Pinjaman Daerah Reguler Non- Regular Non-Assignment Regional Loans:
Penugasan sebagai berikut:
Nilai Komitmen Nilai Outstanding
Wilayah Proyek Jumlah Proyek (Rp miliar) (Rp miliar)
Area/Region Project Number of Project Commitment Outstanding Value
Value (IDR billion) (IDR billion)
Bali dan Nusa Tenggara Jalan dan Jembatan
1 2.830,50 205,21
Bali and Nusa Tenggara Roads an Bridges
Sumatera Jalan dan Jembatan
1 110,48 52,39
Sumatra Roads and Bridges
Jumlah
2 2.940,98 257,60
Total
Komposisi persentase komitmen dan outstanding The composition of both commitment and outstanding
berdasarkan sektor didominasi oleh sektor Jalan dan percentages is dominated by the Roads and Bridges
Jembatan. Adapun rincian persentase komitmen sector. The detailed breakdown of the percentage of
dan outstanding Pinjaman Daerah Reguler Non- commitments and outstanding balances for Regular
Penugasan tahun 2025 berdasarkan sektor disajikan Non-Assignment Regional Loans in 2025 by sector is
pada grafik di bawah ini: presented in the chart below:
Persentase Komitmen Berdasarkan Sektor Persentase Outstanding Berdasarkan Sektor
Percentage of Commitment by Sector Percentage of Outstanding by Sector
Jalan dan Jembatan; 100% Jalan dan Jembatan; 100%
Roads and Bridges; 100% Roads and Bridges; 100%
Pada tahun 2025, penyaluran Pinjaman Daerah Reguler In 2025, the disbursement of Activity-Based Regular Non-
Non-Penugasan Berbasis Kegiatan (Pinjaman Pemda) Assignment Regional Loans (Regional/Local Government
oleh PT SMI berdasarkan lokasi wilayah proyek disajikan Loans) by PT SMI, based on project location, is presented
pada grafik di bawah ini. in the chart below:
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Komitmen Outstanding
Commitment Outstanding
3,2%
20,3%
79,7%
96,2%
Sumatera Bali dan Nusa Tenggara
272
Page 3
Dalam periode 2015–2025, PT SMI telah menerbitkan 3 During the period of 2015–2025, PT SMI has issued 3
Offering Letter (“OL”) untuk Pinjaman Daerah Reguler Non- Offering Letters (“OL”) for Regular Non-Assignment
Penugasan dengan total nilai fasilitas pinjaman sebesar Regional Loans, with a total loan facility amounting to
Rp3.020,98 miliar, dengan rekapitulasi sebagai berikut: IDR3,020.98 billion, as summarized below:
Nilai
Tahun Jumlah Fasilitas (Rp miliar)
Year Number of Facilities Value
(IDR billion)
2025 3 3.020,98
Jumlah
3.020,98
Total
3. Pinjaman Pemulihan Ekonomi Nasional (PEN) Daerah 3. Regional National Economic Recovery (PEN) Loans
Menindaklanjuti dampak merebaknya pandemi In response to the impact of the COVID-19 pandemic in
COVID-19 pada tahun 2020, Pemerintah menginisiasi 2020, the Government initiated the National Economic
Program Pemulihan Ekonomi Nasional (PEN) sebagai Recovery (PEN) Program as an effort to maintain
upaya menjaga stabilitas dan mendorong pemulihan stability and promote economic recovery. In its role
perekonomian. Dalam perannya sebagai Special as a Special Mission Vehicle (SMV) of the Government,
Mission Vehicle (SMV) Pemerintah, Perseroan turut the Company participated in the program through
berpartisipasi dalam program tersebut melalui the disbursement of National Economic Recovery
penyaluran Pinjaman Pemulihan Ekonomi Nasional Loans to Regional Governments (Regional PEN Loans).
kepada Pemerintah Daerah (Pinjaman PEN Daerah).
Pelaksanaan kegiatan tersebut merupakan The implementation of these activities constitutes
bentuk dukungan pembiayaan berupa pinjaman financing support in the form of loans as regulated
sebagaimana diatur dalam Peraturan Menteri under Regulation of the Minister of Finance No. 53/
Keuangan Nomor 53/PMK.07/2024 tentang PMK.07/2024 concerning the Management of National
Pengelolaan Pinjaman Pemulihan Ekonomi Nasional Economic Recovery Loans for Regional Governments,
untuk Pemerintah Daerah, yang mengacu pada which refers to Law No. 2 of 2020 and Government
Undang-Undang Nomor 2 Tahun 2020 dan Peraturan Regulation No. 43 of 2020. As of December 2025, PT SMI
Pemerintah Nomor 43 Tahun 2020. Hingga Desember has recorded the following recapitulation of Regional
2025, PT SMI telah mencatatkan rekapitulasi proyek PEN Loan projects:
Pinjaman PEN Daerah sebagai berikut:
Nilai Komitmen Nilai Outstanding
Jumlah
Jenis Pinjaman Sektor (Rp miliar) (Rp miliar)
Type of Loans
Fasilitas Sector Commitment Value Outstanding Value
Total Facilities (IDR billion) (IDR billion)
PEN APBN 2020
PEN under the 2020 28 17.858 8.293
State Budget (APBN)
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
PEN APBN 2021
Multisektor
PEN under the 2021 38 8.977 5.333
State Budget (APBN)
Dukungan PEN
22 7.190 1.669
PEN Support
Jumlah
88 34.025 15.295
Total
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Nilai Komitmen dan Outstanding Berdasarkan Wilayah Debitur
Commitment and Outstanding Value by Debtor’s Region
Komitmen Outstanding
Commitment Outstanding
7,4% 6,9%
14,4% 19,2%
24,1% 26,6%
4,9%
5,4%
47,6% 40,1%
1,7% 1,7%
Bali dan Nusa Tenggara Jawa Kalimantan
Maluku dan Papua Sulawesi Sumatera
Jumlah Kegiatan Pinjaman PEN Daerah Berdasarkan Number of Regional PEN Loan Activities by Sector
Sektor
Sampai dengan 31 Desember 2025, Perseroan As of December 31, 2025, the Company recorded financing
mencatatkan pembiayaan Pinjaman PEN Daerah for Regional PEN Loans covering more than 6,000 activities.
terhadap lebih dari 6.000 kegiatan. Adapun rincian jumlah The detailed number of such activities is as follows:
kegiatan tersebut adalah sebagai berikut:
17%
Sektor Jalan dan Jembatan Sektor Kesehatan
Roads and Bridges Sector Healthcare Sector
11%
Sektor Sumber Daya Air Sektor Pendidikan
Water Resources Sector Education Sector 59%
Sektor Lainnya 6%
Other Sectors
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
7%
Rencana Strategis 2026 2026 Strategic Plan
Perseroan telah menetapkan rencana strategis The Company has established a strategic public financing
pembiayaan publik yang akan dilaksanakan pada tahun plan to be implemented in 2026, as follows:
2026, sebagai berikut:
1. Memproses permohonan yang telah disampaikan 1. Processing applications submitted by public sector
institusi sektor publik pada tahun 2025-2026; institutions in 2025–2026;
2. PT SMI akan melakukan pendekatan kepada Pemda 2. PT SMI will approach Regional Governments whose
yang kepala daerahnya terpilih kembali, terutama regional heads have been re-elected, particularly
untuk Pemda debitur eksisting; existing debtor regions;
3. Pelaksanaan audiensi dan pendekatan kepada 3. Conducting outreach and engagement with all
seluruh PTNBH di Indonesia; State Universities with Legal Entity Status (PTNBH) in
Indonesia;
4. Pelaksanaan sosialisasi pembiayaan BLU kepada 4. Conducting socialization of BLU financing to Vertical
Rumah Sakit Vertikal, Perguruan Tinggi Negeri Badan Hospitals, State Universities with Public Service Agency
274 Layanan Umum (PTN BLU), dan instansi BLU lainnya; status (PTN BLU), and other BLU institutions;
Page 5
5. SNG diagnostic tool, SNG Policy Framework, dan riset- 5. SNG diagnostic tools, SNG Policy Framework, and other
riset lainnya oleh SMI Institute; research conducted by the SMI Institute;
6. Clustering Pemda oleh SMI Institute dan concessional 6. Clustering of Regional Governments by the SMI
rate sesuai clustering; Institute and provision of concessional rates based
on such clustering;
7. Project Development Facility (PDF) berupa hibah 7. Project Development Facility (PDF) in the form of
penyiapan dan pendampingan proyek serta capacity grants for project preparation, project assistance,
building Pemda; and capacity building for Regional Governments;
8. Pinjaman LKBB tanpa penugasan untuk mematuhi 8. Non-assignment loans to Non-Bank Financial
Undang-Undang Hubungan Keuangan antara Institutions (LKBB) to comply with Law No. 1 of 2022
Pemerintah Pusat dan Pemerintahan Daerah (UU concerning Financial Relations between the Central
HKPD) Nomor 1 Tahun 2022; Government and Regional Governments (UU HKPD);
9. Pinjaman langsung kepada Badan Usaha Milik Daerah 9. Direct loans to Regional-Owned Enterprises (BUMD),
(BUMD), terutama Perusahaan Daerah Air Minum particularly Regional Water Utilities (PDAM);
(PDAM);
10. Pinjaman kepada BLU sektor kesehatan menggunakan 10. Loans to BLUs in the healthcare sector using the
skema PMK 29/PMK.05/2022 tentang penyediaan aset scheme under Regulation of the Minister of Finance No.
dengan mekanisme pembelian melalui fasilitator; 29/PMK.05/2022 concerning asset provision through
a facilitator-based procurement mechanism;
11. Pembiayaan kepada PTNBH; dan 11. Financing to State Universities with Legal Entity Status
(PTNBH); and
12. Pembiayaan Publik Daerah Syariah. 12. Sharia Regional Public Financing.
JASA KONSULTASI ADVISORY SERVICES
PT SMI, melalui pilar bisnis Jasa Konsultasi, berperan PT SMI, through its Advisory Services business pillar,
aktif sebagai katalis dalam percepatan pembangunan plays an active role as a catalyst in accelerating
infrastruktur nasional. Perseroan menyediakan jasa national infrastructure development. The Company
konsultasi kepada klien dalam penyiapan proyek-proyek provides advisory services to clients in the preparation of
infrastruktur, baik yang termasuk dalam Proyek Strategis infrastructure projects, both those categorized as National
Nasional (PSN) maupun non-PSN. Produk jasa konsultasi Strategic Projects (PSN) and non-PSN. The advisory
yang dikembangkan, antara lain melalui aktivitas service offerings, including activities such as Investment
Investment & Financial Advisory, dan Syndication Arranger & Financial Advisory and Syndication Arranger & Deal
& Deal Sourcing, dirancang sesuai dengan karakteristik Sourcing, are designed in accordance with the specific
dan kebutuhan spesifik masing-masing proyek. characteristics and needs of each project.
Layanan yang ditawarkan mencakup end-to-end The services offered cover end-to-end services,
services, dimulai dari tahap penyiapan dokumen proyek, starting from project document preparation, facilitation
pendampingan proses transaksi, hingga pendampingan of transaction processes, to assistance in financing
pelaksanaan pendanaan hingga tercapainya financial implementation until financial close is achieved. An
close. Gambaran alur proses yang difasilitasi oleh Jasa overview of the process flow facilitated by the Company’s
Konsultasi Perseroan adalah sebagai berikut: Advisory Services is as follows: PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Tahap
Project Documentation Project Transaction Financial Close
Stage
1. Mendampingi klien dalam
Menyiapkan dokumentasi dan rangka melakukan persiapan
Bertindak sebagai arranger dan
struktur proyek untuk dibawa ke fase penggalangan dana baik dari sisi
deal sourcing dalam penghimpunan
transaksi seperti Model Keuangan, ekuitas maupun utang.
pendanaan dari sisi utang dan
Peran DJK Feasibility Study, Bidding Documents, Assisting clients in preparing
ekuitas yang melibatkan Lembaga
Roles of Project Info Memo, perencanaan fundraising activities, both in
keuangan lainnya (MDB/Non-MDB).
Advisory bisnis perusahaan. terms of equity and debts.
Acting as an arranger and deal
Services Preparing project documents and 2. Mendampingi klien dalam
sourcing in fundraising from debts
Division structures for the transaction stage, melakukan proses bidding/M&A
and equity involving other financial
including Financial Model, Feasibility dalam mencari mitra strategis.
institutions (MDB/Non-MDB).
Study, Bidding Documents, Project Info Assisting clients in conducting
Memo, corporate business planning. bidding/M&A processes to find
strategic partners.
275
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Layanan Jasa Konsultasi yang dimiliki PT SMI untuk PT SMI’s Advisory Services offerings to meet customer
memenuhi kebutuhan pelanggan meliputi beberapa needs comprise several key products, namely:
produk utama, yaitu:
1. Jasa konsultasi investasi & keuangan; 1. Investment & Financial Advisory Services;
2. Jasa konsultasi pendampingan penghimpunan dana; 2. Fundraising Advisory Services;
3. Jasa layanan arrangement pembiayaan sindikasi 3. Syndicated/Club Deal Financing Arrangement
club deal dan deal sourcing. Services and Deal Sourcing.
Pelaksanaan layanan Jasa Konsultasi oleh PT SMI The implementation of Advisory Services by PT SMI is
dilakukan melalui Divisi Jasa Konsultasi (DJK), yang carried out through the Advisory Services Division, which
memiliki tugas dan tanggung jawab sebagai berikut: has the following duties and responsibilities:
1. Meningkatkan pengetahuan dan wawasan 1. Enhancing knowledge and insight into infrastructure
infrastruktur di sektor yang menjadi fokus yaitu in key focus sectors such as transportation, port
transportasi, kepelabuhanan, teknologi, kawasan, development, technology, industrial zones, and
dan energi; energy;
2. Meningkatkan proyek Jasa Konsultasi yang berpotensi 2. Increasing the potential of Advisory Services projects
linked to financing, terutama pada kegiatan sindikasi; linked to financing, particularly in syndication activities;
3. Berperan sebagai arranger/MLA/JMLA pembiayaan 3. Acting as an arranger/Mandated Lead Arranger
sindikasi/Club Deal dan deal sourcing, baik diberikan (MLA)/Joint Mandated Lead Arranger (JMLA), whether
mandat dari (calon) Debitur langsung ataupun mandated directly by (potential) debtors or through
Joint Arrangement/Co-Arrangement dengan Bank/ Joint Arrangement/Co-Arrangement with Banks or
Lembaga Pembiayaan lain; other Financing Institutions;
4. Menjalin sinergi BUMN terutama yang terkait dengan 4. Establishing synergy with State-Owned Enterprises
kajian pengembangan proyek infrastruktur; (SOEs), especially those related to infrastructure
project development studies;
5. Berpartisipasi dalam proyek non-penugasan/PDF, baik 5. Participating in non-assignment/PDF projects, whether
dengan skema KPBU solicited maupun unsolicited; under solicited or unsolicited PPP schemes;
6. Melakukan transfer pengetahuan tentang infrastruktur 6. Conducting knowledge transfer on infrastructure
melalui kegiatan capacity building serta keikutsertaan through capacity building activities and participation
sebagai narasumber dalam berbagai seminar; as a resource person in various seminars;
7. Berkolaborasi dengan Direktorat Pembiayaan Publik 7. Collaborating with the Directorate of Public Financing
dan Penyiapan Proyek dalam melakukan pelaksanaan and Project Preparation in implementing activities
kegiatan yang didukung oleh Lembaga Donor supported by donor institutions.
Inisiatif Strategis Strategic Initiatives
Sepanjang tahun 2025, PT SMI mengimplementasikan Throughout 2025, PT SMI implemented a number of
sejumlah inisiatif strategis melalui layanan Jasa strategic initiatives through its Advisory Services, including:
Konsultasi, antara lain:
1. Melakukan inovasi atas strukturisasi proyek yang 1. Innovating project structuring for feasible projects
feasible melalui syndication, structuring, deal through syndication, structuring, deal sourcing, and
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
sourcing, dan arranger untuk menciptakan struktur arranger roles to create bankable project structures
proyek menjadi bankable sehingga mampu menarik capable of attracting significant participation from
partisipasi yang besar bagi investasi-investasi swasta private investments and other business entities.
dan badan usaha lainnya.
2. Mengembangkan product library dan pipeline 2. Developing an ESG Advisory product library and
ESG Advisory melalui sinergi dengan Divisi Evaluasi pipeline through synergy with the Environmental,
Lingkungan, Sosial dan Teknik. Social, and Technical Evaluation Division.
3. Kolaborasi dengan Direktorat Pembiayaan Publik dan 3. Collaborating with the Public Financing and Project
Pengembangan Proyek melalui penyerapan dana Development Directorate through the mobilization of
donor untuk kegiatan Jasa Konsultasi. donor funds for Advisory Services activities.
4. Mendukung percepatan pembangunan infrastruktur 4. Supporting the acceleration of infrastructure
pada proyek-proyek yang memiliki eksposur dan development in projects with significant exposure
dampak yang signifikan terhadap pertumbuhan and impact on Indonesia’s economic growth.
ekonomi Indonesia.
276
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Kinerja Jasa Konsultasi
Advisory Services Performance
Sepanjang tahun 2025, Divisi Jasa Konsultasi (DJK)
berhasil memperoleh mandat pekerjaan sekitar Rp34,051 Throughout 2025, the Advisory Services Division
miliar (di luar PPN). Adapun mandat pekerjaan yang successfully secured project mandates totaling
dijalankan meliputi: approximately IDR34.051 billion (excluding VAT). The
mandates undertaken include:
Invoiced/
Mandat (Rp-juta)
Klien Proyek Received Fee Status Pekerjaan
No. Project
Mandate (IDR-
(Rp-juta) Work Status
Client
million)
(IDR-million)
Capacity Building
Series-1 terkait Cost
Benefit Analysis
kepada Rumah Paten
1 Rumah Paten 78 78 Done
Capacity Building
Series-1 on Cost
Benefit Analysis for
Rumah Paten
Jasa Konsultasi
Penyusunan Studi
Kelayakan Ekonomi
Transshipment Hub di
Selat Malaka
PT Pelindo Terminal
2 Advisory Services 4.000 2.400 On Progress
Petikemas (“SPTP”)
for the Preparation
of an Economic
Feasibility Study for a
Transshipment Hub in
the Malacca Strait
Jasa Konsultasi
Penyusunan
Kajian Rencana
Pengoperasian
Terminal Peti Kemas
PT Pelindo IPC
di Terminal Kijing
3 Terminal Petikemas 2.000 2.000 Done
Advisory Services
(“IPC TPK”)
for the Preparation
of an Operational
Plan Study for the
Container Terminal at
Kijing Terminal
Capacity Building
Series-2 terkait
Metode Blended
Finance dan
Skema Kerja sama
Pemerintah dan
Badan Usaha
(“KPBU”) untuk
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Pendanaan Proyek
Transisi Energi
dengan Penerapan
4 Rumah Paten Prinsip ESG 180 180 Done
Capacity Building
Series-2 on Blended
Finance Methods
and Public-Private
Partnership
(PPP) Schemes
for Financing
Energy Transition
Projects with the
Implementation of
ESG Principles
Kajian Kelayakan
KPBUD DKI Bis Listrik
PT VKTR Teknologi
5 Feasibility Study of 750 - On Progress
Mobilitas Tbk
KPBU DKI Jakarta
Electric Bus Project
277
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Invoiced/
Mandat (Rp-juta)
Klien Proyek Received Fee Status Pekerjaan
No. Project
Mandate (IDR-
(Rp-juta) Work Status
Client
million)
(IDR-million)
Jasa Deal Sourcing
Pembiayaan PT
NTBE Proyek IPP PLTS
Tembesi
PLTS Tembesi – Carry
6. Deal Sourcing 1.436 1.436 Done
Over
Advisory Services for
the Financing of PT
NTBE – Tembesi Solar
PV IPP Project
Pembiayaan Sindikasi
Jalan Tol Akses
Patimban Seksi I
PT Jasamarga Akses
dan II
7. Patimban – Carry 4.951 4.951 Done
Syndicated Financing
Over
for Patimban Access
Toll Road Section I
and II
Joint Lead Arranger
Proyek KPBU Jalan
Trans Papua
Jayapura – Wamena
HMTP Trans Papua –
8. Joint Lead Arranger 4.926 4.926 Done
Carry Over
for the PPP Project
of the Trans Papua
Jayapura – Wamena
Toll Road
Referral Fee KSI Tahun
Krakatau Sarana
ke-4
9. Infrastruktur (“KSI”) – 92 92 Done
KSI Referral Fee –
Carry Over
Year 4
Pembiayaan Sindikasi
Pengadaan 612
Unit Kereta New
PT Kereta Api Generation kepada
10. Indonesia (Persero) PT KAI 2.065 2.065 Done
(“PT KAI”) Syndicated Financing
for the Procurement
of 612 New Generation
Train Units for PT KAI
Coordinating Banks
untuk pembiayaan
sindikasi PT HPSL
PT Hutama Panorama (dengan BNI dan BRI)
11. 1.448 1.448 Done
Sitinjau Lauik Coordinating Banks
for Syndicated
Financing of PT HPSL
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
(with BNI and BRI)
Sindikasi Monetisasi
Ruas Akses Tanjung
Priok kepada
Perusahaan PT
Hutama Karya
PT Hutama Karya (Persero)
13. 2.000 2.000 Done
(Persero) Syndication for the
Monetization of the
Tanjung Priok Access
Road Segment for
PT Hutama Karya
(Persero)
278
Page 9
Invoiced/
Mandat (Rp-juta)
Klien Proyek Received Fee Status Pekerjaan
No. Project
Mandate (IDR-
(Rp-juta) Work Status
Client
million)
(IDR-million)
Pembiayaan Sindikasi
PT Pilar Bahtera
Energi untuk Proyek
Pengelolaan DRUPS
Eksisting, Pengadaan
DRUPS Baru dan
Converter Baru
PT Pilar Bahtera
14. Syndicated Financing 500 On Progress
Energi (“PBE”)
for PT Pilar Bahtera
Energi for the Existing
DRUPS Management
Project, Procurement
of New DRUPS, and
New Converter
Systems
Arrangement
dalam Pembiayaan
Sindikasi kepada
PT OKI Pulp and
Paper untuk proyek
Pembangunan
Pabrik Pulp OKI II
Fasilitas Investasi – 2
PT Pulp & Paper Mills
15. (Infrastruktur) 7.500 7.500 Done
(“PT OKI”)
Arrangement in
Syndicated Financing
for PT OKI Pulp
and Paper for the
Development of
the OKI II Pulp Mill –
Investment Facility 2
(Infrastructure)
Referral Fee Layanan
Keagenan Fasilitas
Pembiayaan kepada
PT Sejahteraraya
PT Sejahteraraya Anugrahjaya
16. 25 25 Done
Anugrahjaya Tbk Referral Fee for
Agency Services of
Financing Facilities
to PT Sejahteraraya
Anugrahjaya
Pembiayaan Sindikasi
kepada PT NAP
Info Lintas Nusa
untuk proyek Matrix
Cable System-2,
Asia Link Cable, dan
refinancing loan
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
eksisting NAP Info
PT NAP Info Lintas
17. Lintas Nusa 2.100 - On Progress
Nusa
Syndicated Financing
for PT NAP Info Lintas
Nusa for the Matrix
Cable System-2, Asia
Link Cable Project,
and refinancing of
existing loans of NAP
Info Lintas Nusa
Total 34.051 29.101
279
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
PENGEMBANGAN PROYEK PROJECT DEVELOPMENT
Sebagai bagian dari pilar bisnis Jasa Konsultasi dan As part of the Advisory Services and Project Development
Pengembangan Proyek, Perseroan melaksanakan business pillar, the Company manages project
kegiatan pengembangan proyek untuk mendukung development activities to support the acceleration of
percepatan pembangunan infrastruktur di Indonesia. infrastructure development in Indonesia. Through this
Melalui peran ini, Perseroan berfungsi sebagai enabler role, the Company acts as an enabler in achieving
bagi pencapaian tujuan pembangunan (development) development objectives by providing project preparation
dengan menyediakan fasilitas penyiapan proyek, facilities, transaction assistance, and technical assistance
pendampingan transaksi, bantuan teknis dalam berbagai in various forms in line with best practices, capacity
bentuk sesuai best practices, peningkatan kapasitas building, stakeholder outreach, and other forms of support
hingga sosialisasi kepada pemangku kepentingan serta
bentuk dukungan lainnya.
Secara paralel, Perseroan juga aktif memperkuat At the same time, the Company also conducts various
ekosistem infrastruktur melalui koordinasi dengan activities to strengthen the infrastructure ecosystem
berbagai pihak termasuk Kementerian/Lembaga, by coordinating with various stakeholders, including
Badan Usaha Milik Negara/Daerah (BUMN/D), dan Ministries/Institutions, State/Regional-Owned Enterprises
instansi pemerintah lainnya, termasuk Badan Hukum (SOEs/ROEs), and other government agencies, including
Milik Negara. Upaya ini mencakup kegiatan originasi jasa Government-Owned Legal Entities. These efforts include
pengembangan proyek sektor publik dan pengembangan origination activities for public sector project development
produk terkait dengan tujuan mendukung pembangunan services and the development of related products aimed
berkelanjutan. at supporting sustainable development.
Sehubungan dengan hal tersebut, lingkup kegiatan dan In this regard, the scope of activities and types of projects
jenis proyek yang dilaksanakan oleh Perseroan dapat undertaken by the Company can be seen in the following
dilihat pada tabel berikut: table:
Lingkup Kegiatan Pengembangan Proyek
Scope of Project Development Activities
Peningkatan kualitas Koordinasi aspek Bimbingan dalam Pengelolaan koordinasi Kolaborasi dengan
paket investasi proyek keahlian dalam meningkatkan standar dan kerja sama antar para pemangku
infrastruktur yang akan penyiapan proyek dan pelaksanaan tata pemangku kepentingan proyek
ditawarkan kepada (project management kelola proyek. kepentingan proyek melalui pengembangan
calon financier. office). Guidance in improving (stakeholder kapasitas dan sharing
Quality improvement Coordination of expertise project governance management). knowledge kepada
of infrastructure project in project preparation standard and execution. Management of stakeholders Perseroan.
investment package to (project management communication and Collaboration with
be offered to potential office). cooperation between project stakeholders
financier(s). project stakeholders through capacity
(stakeholder building and knowledge
management). sharing to the
Company's stakeholders.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Jenis Proyek yang Difasilitasi
Types of Projects Facilitated
Proyek-proyek Prioritas atau Proyek-proyek yang menjadi Proyek-proyek yang menjadi Proyek-Proyek Energi Baru
Proyek Strategis Nasional. kewenangan mandat Kementerian/Lembaga, Terbarukan.
Priority Projects or National Pemda dan/atau Otorita IKN. BUMN/D dan Instansi Pemerintah New and Renewable Energy
Strategic Projects. Projects under the authority Lainnya, termasuk Badan Hukum Projects
of the Regional/Local and/or milik Pemerintah.
Nusantara Capital City (IKN) Projects mandated by
Authority. Ministries/Agencies, State-
Owned Enterprises/Regionally-
Owned Enterprises, and other
Government Institutions, including
Government-Owned Legal Entities
Pelaksanaan pengembangan proyek oleh Perseroan The Company’s project development implementation
mencakup lingkup kegiatan penugasan fasilitas encompasses the scope of activities related to the
pengembangan proyek dan penyediaan infrastruktur assignment of project development facilities and the
lainnya, kegiatan pengembangan proyek non-penugasan, provision of other infrastructure, non-assignment project
development activities, as well as the strengthening of
the infrastructure ecosystem. Through these activities, the
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serta penguatan ekosistem infrastruktur. Melalui kegiatan Company delivers added value and a value proposition
ini, Perseroan menghadirkan nilai tambah dan value as a development catalyst by supporting infrastructure
proposition sebagai katalis pembangunan, dengan projects at highly critical stages, from planning and
mendukung proyek infrastruktur pada tahap yang sangat preparation to transaction and monitoring. Accordingly,
krusial yaitu mulai dari perencanaan, penyiapan, hingga it is expected that the quality of project bankability will
transaksi dan monitoring. Dengan demikian, diharapkan continue to improve. This support is provided not only
kualitas project bankability dapat semakin meningkat. for Public-Private Partnership (PPP) schemes (in line with
Dukungan ini diberikan tidak hanya untuk skema KPBU Presidential Regulation No. 38 of 2015 concerning PPP in
(selaras dengan Perpres Nomor 38 Tahun 2015 tentang Infrastructure Provision), but also for projects with other
KPBU dalam Penyediaan Infrastruktur), tetapi juga untuk financing modalities through assignment schemes (in
proyek-proyek dengan modalitas pembiayaan lain accordance with Regulation of the Minister of Finance
melalui skema penugasan (sesuai Peraturan Menteri No. 68 of 2024 concerning Government Support for
Keuangan Nomor 68 Tahun 2024 mengenai Dukungan Infrastructure Financing through PPP Schemes and/or
Pemerintah untuk Pembiayaan Infrastruktur melalui Other Financing Schemes), as well as non-assignment
Skema KPBU dan/atau Skema Pembiayaan Lainnya schemes.
maupun non-penugasan.
Perseroan juga terus mendorong penerapan good The Company also continues to promote the adoption of
practices dalam kegiatan pengembangan proyek good practices in project development activities, enabling
sehingga pemerintah di tingkat pusat maupun daerah both central and regional governments to gain relevant
memperoleh wawasan yang relevan dan mampu insights and improve infrastructure project management
memperbaiki praktik manajemen proyek infrastruktur practices in accordance with their respective authorities.
sesuai kewenangannya. Ringkasan implementasi kinerja A summary of the 2025 performance implementation
tahun 2025 untuk ketiga lingkup jasa pengembangan for the three scopes of project development services is
proyek tersebut disajikan dalam tabel berikut: presented in the following table:
Ringkasan Kinerja Pilar Pengembangan Proyek Tahun 2025
Summary of the Project Development Pillar Performance in 2025
Penugasan KPBU (termasuk carryover 2024):
• Penugasan KPBU: 7 Proyek senilai
Rp28,1 triliun
• Penugasan Fasilitas PPSP IKN (Ibu Kota Nusantara) senilai Rp466
triliun
• Penugasan FPP KPBU IKN: 10 Proyek senilai Rp96,95 triliun
PPP Assignments (including 2024 carryover):
• PPP Assignments: 7 Projects; Total Value: IDR28.1 trillion
• PSPP IKN (Nusantara Capital City) Facilities Assignments: IDR466
trillion
Di 2025, total nilai proyek yang didukung oleh Kegiatan • FPP PPP IKN Assignments: 10 Projects; Total Value: IDR96.95 trillion
Pengembangan Proyek adalah Rp154,92 Triliun yang tersebar
di 18 lokasi proyek dengan penguatan ekosistem infrastruktur Non-Penugasan KPBU: 10 Proyek (termasuk carryover 2024) senilai
berupa 5 pipeline proyek KPBU dan 4 Lembaga Multilateral. Rp29,87 triliun
In 2025, the total project value supported by Project Non PPP Assignments: 10 Projects (including 2024 carryover) Total
Development Activities was IDR154.92 trillion, spread across Value: IDR29.87 trillion
18 project locations with the infrastructure ecosystem
strengthening through 5 PPP Pipelines and 4 Multilateral Penguatan Ekosistem Infrastruktur: PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Institutions. • 5 Pipeline PDF Proyek KPBU dan Fasilitas Penyiapan KPBU IKN
• Kolaborasi dan/atau Penjajakan dengan
4 Lembaga Multilateral
• 26 Kegiatan Pengembangan Kapasitas atau Transfer Wawasan
kepada para stakeholder.
Infrastructure Ecosystem Strengthening:
• 5 PPP Project PDF Pipelines and PPP Project Preparation Facilities
for IKN
• Collaboration and/or Exploration with 4 Multilateral Institutions
• 26 Capacity Building/Knowledge Transfer Activities for
Stakeholders
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Inisiatif Strategis Strategic Initiatives
Pada tahun 2025, Perseroan melaksanakan sejumlah In 2025, the Company implemented a number of strategic
inisiatif strategis dalam bidang Pengembangan Proyek, initiatives in the Project Development area, including:
yang mencakup antara lain:
1. Penugasan Fasilitas Pengembangan Proyek dan 1. Assignment of Project Development Facilities and
Penyediaan Infrastruktur Lainnya Provision of Other Infrastructure
Sehubungan dengan penugasan dari Kementerian In relation to the assignment from the Ministry of
Keuangan, pilar pengembangan proyek mendukung Finance, the project development pillar supports the
pelaksanaan Fasilitas Pengembangan Proyek dari implementation of Project Development Facilities
Kementerian Keuangan. Perseroan juga melanjutkan from the Ministry of Finance. The Company also
penugasan pelaksanaan Fasilitas Pendukung continued the assignment for the implementation
Penerapan Skema Pendanaan (“PPSP”) dalam rangka of the Supporting Facility for Financing Scheme
mendukung Otorita IKN untuk mempersiapkan tata Implementation (“PPSP”) in order to support the
kelola dan ekosistem pembiayaan penyediaan Nusantara Capital City Authority (IKN Authority) in
infrastruktur di IKN. preparing governance and the financing ecosystem
for infrastructure provision in IKN.
Selain itu Perseroan juga terus mendukung penugasan In addition, the Company continues to support
dari Kementerian Keuangan melalui pendampingan assignments from the Ministry of Finance through
pipeline proyek infrastruktur di IKN ataupun di luar IKN. assistance in infrastructure project pipeline
Pada tahun 2025, pipeline pengembangan proyek development in IKN as well as outside IKN. In 2025,
infrastruktur di IKN meliputi infrastruktur sektor jalan the infrastructure project development pipeline in
dan Multi Utility Tunnel, sektor energi terbarukan IKN includes road sector infrastructure and Multi
dan sektor transportasi. Perseroan juga mendukung Utility Tunnel (MUT), renewable energy sector, and
pipeline proyek infrastruktur di luar IKN yang meliputi transportation sector. The Company also supports
Proyek Jalan Tol Gedebage-Tasikmalaya dan infrastructure project pipelines outside IKN, including
Proyek Perlindungan Laut Pantai Utara Jawa. Melalui the Gedebage–Tasikmalaya Toll Road Project and the
pengembangan pipeline proyek KPBU khususnya di Northern Coastal Protection Project of Java (Pantura).
IKN, Perseroan mendapatkan penugasan baru pada Through the development of the PPP project pipeline,
tahun 2025 melalui Fasilitas Pengembangan Proyek particularly in IKN, the Company obtained new
untuk sektor Jalan dan MUT. Keterlibatan Perseroan assignments in 2025 through the Project Development
dalam pengembangan pipeline tersebut diharapkan Facility for the road and MUT sectors. The Company’s
dapat menunjang penyelenggaraan proyek melalui involvement in developing this pipeline is expected to
pembiayaan alternatif (khususnya KPBU) sehingga support project implementation through alternative
dapat menarik bagi investasi badan usaha. financing (particularly PPP), thereby attracting private
sector investment.
2. Fasilitas Pengembangan Proyek Non-Penugasan 2. Non-Assignment Project Development Facilities
Pada penyiapan Proyek Non-Penugasan melalui In the preparation of Non-Assignment Projects
dana donor (PDF Dana Donor), Perseroan masih through donor funds (Donor-Funded PDF), the
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
melanjutkan komitmen sebelumnya pada Company continues its commitment to sustainable
pembangunan yang berkelanjutan meliputi aspek development, covering environmental, economic,
lingkungan, ekonomi, sosial, dan transfer teknologi social, technology transfer, and greenhouse gas
serta reduksi emisi Gas Rumah Kaca. Bentuk komitmen emission reduction aspects. This commitment is
tersebut diimplementasikan dengan memberikan implemented through the provision of technical
dukungan teknis pada proyek dari berbagai sektor support to projects across various sectors, including
baik infrastruktur urban maupun energi terbarukan. urban infrastructure and renewable energy.
Sejalan dengan tema berkelanjutan yang sedang In line with the ongoing sustainability agenda, the
diusung tersebut, Perseroan juga melakukan Company has also developed a new product from the
pengembangan produk baru dari PDF Dana Donor Donor-Funded PDF in the form of a repayable grant for
dalam bentuk Repayable Grant untuk proyek yang projects with certain commercial aspects. The ultimate
memiliki aspek komersial tertentu. Tujuan akhirnya objective is to create a multiplier effect, enabling more
adalah untuk menciptakan multiplier effect sehingga projects to benefit from the Donor-Funded PDF facility.
lebih banyak proyek yang dapat memanfaatkan fasilitas Through this repayable grant scheme, the Company is
PDF Dana Donor. Melalui skema repayable grant tersebut expected to provide sustainable technical assistance
diharapkan Perseroan dapat memberikan bantuan in terms of financing and improved project selection.
teknis secara berkelanjutan dalam sisi keuangan dan
project selection yang lebih baik.
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3. Penguatan Ekosistem Infrastruktur 3. Strengthening the Infrastructure Ecosystem
Dalam rangka mendorong daya saing perekonomian In order to enhance national economic competitiveness
nasional serta perkembangan infrastruktur yang and promote equitable infrastructure development, the
merata, Perseroan terlibat juga dalam kegiatan Company is also involved in collaboration activities,
kolaborasi, capacity building serta pipelining bersama capacity building, and pipeline development with both
Pemerintah Pusat maupun Daerah. central and regional governments.
Salah satu inisiatif utama pada tahun 2025 adalah One of the key initiatives in 2025 was PT SMI’s support
dukungan PT SMI dalam pelaksanaan Indonesia in the implementation of the Indonesia International
International Conference of Infrastructure pada Conference on Infrastructure on June 11–12, 2025,
tanggal 11-12 Juni 2025 bersama Kementerian in collaboration with the Coordinating Ministry for
Koordinator Bidang Infrastruktur dan Pembangunan Infrastructure and Regional Development. This was
Kewilayahan yang didahului serta ditindaklanjuti preceded and followed by a series of pre-event
dengan rangkaian pre-event dan post-event and post-event activities with stakeholders from
bersama pemangku kepentingan dari Pemerintah the central government. These activities included
Pusat. Kegiatan ini mencakup identifikasi proyek yang the identification of projects that are ready-to-
ready-to-offer kepada calon investor, sharing proyek offer to potential investors, sectoral project sharing
sektoral (dan capacity building stakeholder terkait), (and stakeholder capacity building), and follow-up
serta follow-up business matching pasca kegiatan. business matching after the event.
Sebagai salah satu upaya Perseroan dalam As part of the Company’s efforts to promote
mendorong pembangunan menggunakan alternatif development through alternative financing
skema pembiayaan, maka dilakukan rangkaian schemes, a series of activities were conducted
kegiatan dengan para stakeholder termasuk transfer with stakeholders, including knowledge transfer on
wawasan mengenai pembiayaan infrastruktur infrastructure financing and identification of optimal
serta mengidentifikasi skema pembiayaan optimal financing schemes for infrastructure provision. As a
dalam penyediaan infrastruktur. Menindaklanjuti hal follow-up, the Company has initiated collaboration
tersebut, Perseroan telah melakukan upaya kolaborasi for cooperation between PT SMI and Universitas
untuk inisiasi kerja sama antara PT SMI dengan Andalas in planning and implementing infrastructure
Universitas Andalas dalam rangka perencanaan dan development financing schemes within the university
pelaksanaan skema pembiayaan pengembangan environment. In parallel, origination activities, focused
infrastruktur di lingkungan kampus Universitas group discussions, and synergies with Ministries/
Andalas. Secara paralel, kegiatan originasi, focused Agencies and international institutions continue to
group discussion, serta sinergi dengan Kementerian/ be carried out to support infrastructure development
Lembaga hingga Lembaga Internasional juga through various financing alternatives.
terus dilakukan untuk mendorong pengembangan
infrastruktur melalui berbagai alternatif pembiayaan.
Penugasan Fasilitas Pengembangan Proyek Assignment of Project Development Facilities
dan Penyediaan Infrastruktur Lainnya and Provision of Other Infrastructure
Berdasarkan mandat dari Kementerian Keuangan, Based on the mandate from the Ministry of Finance, PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Perseroan berperan sebagai Special Mission Vehicle untuk the Company acts as a Special Mission Vehicle to
memberikan pendampingan kepada penerima Fasilitas provide assistance to recipients of Project Development
Pengembangan Proyek yang disediakan Kementerian Facilities provided by the Ministry of Finance, namely
Keuangan yang dalam hal ini adalah Penanggung Jawab the Government Contracting Agencies (including the
Proyek Kerja Sama (termasuk Otorita IKN) di tingkat pusat IKN Authority) at both central and regional levels. Such
maupun daerah. Pendampingan dimaksud dilakukan assistance is provided through project preparation
melalui fasilitas penyiapan proyek dan pendampingan facilities and transaction advisory for PPP projects as
transaksi Proyek KPBU sebagaimana diatur dalam PMK regulated under Regulation of the Minister of Finance No.
68/2024 dan khusus untuk dukungan kepada Otorita 68 of 2024, and specifically for support to the IKN Authority
IKN mengacu kepada PMK 220/2022 (Fasilitas PDF refers to Regulation of the Minister of Finance No. 220 of
Penugasan). 2022 (Assignment PDF Facility).
Fasilitas PDF Penugasan dilaksanakan untuk mendukung The Assignment PDF Facility is implemented to support
Penanggung Jawab Proyek Kerja Sama dalam Government Contracting Agencies in improving the
meningkatkan efektivitas kegiatan penyiapan, transaksi, effectiveness of project preparation, transaction, and
dan manajemen penyediaan infrastruktur melalui management of infrastructure provision through PPP
KPBU dalam rangka memenuhi kualitas dan waktu schemes in order to meet the required quality and
yang ditentukan. Pelaksanaan Fasilitas PDF Penugasan timelines. The implementation of the Assignment PDF
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
di tahun 2025 mencakup carryover dari tahun-tahun Facility in 2025 includes carryover from previous years,
sebelumnya yang meliputi Bendungan Merangin (dan covering the Merangin Dam (and its integration with the
Integrasinya dengan Sistem Penyediaan Air Minum), Drinking Water Supply System), Karawang Spuur Flats,
Rumah Susun Karawang Spuur, Tempat Pengolahan Manggar Final Waste Processing Facility, Regional Drinking
Akhir Sampah Manggar, Sistem Penyediaan Air Minum Water Supply System for Greater Cirebon Metropolitan
Regional Metropolitan Cirebon Raya (Jatigede) Tahap (Jatigede) Phase I, Padjadjaran University Teaching
I, Rumah Sakit Perguruan Tinggi Negeri Universitas Hospital, Inche Abdoel Moeis Regional General Hospital
Padjadjaran, Rumah Sakit Umum Daerah Inche Abdoel in Samarinda, and Bandung Metropolitan Urban Railway.
Moeis Kota Samarinda dan Perkeretaapian Perkotaan The Company is currently coordinating with the Ministry
Metropolitan Bandung. Adapun Perseroan saat ini sedang of Finance regarding the pipeline for the Gedebage–
berkoordinasi dengan Kementerian Keuangan terkait Tasikmalaya Toll Road Project and the Northern Coastal
pipeline penugasan Proyek Pengusahaan Jalan Tol Protection Project of Java (Pantura).
Gedebage – Tasikmalaya dan Proyek Perlindungan Laut
Pantai Utara (Pantura) Jawa.
Selain itu, Perseroan turut berperan sebagai katalis In addition, the Company also acts as a catalyst
pengembangan infrastruktur nasional melalui for national infrastructure development through its
keterlibatan dalam pengembangan proyek infrastruktur involvement in infrastructure project development in IKN.
di IKN. Pendampingan dilakukan melalui pelaksanaan Assistance is provided through the implementation of the
Fasilitas Pendukung Penerapan Skema Pendanaan dan Supporting Facility for Financing Scheme Implementation
Fasilitas Pengembangan Proyek untuk Proyek KPBU IKN and the Project Development Facility for PPP projects in
atas prakarsa badan usaha pada sektor perumahan IKN initiated by business entities in the housing sector
serta sektor jalan dan Multi Utility Tunnel. Perseroan as well as the road and Multi Utility Tunnel sectors. The
juga mendukung Otorita IKN dalam penyiapan pipeline Company also supports the IKN Authority in preparing
proyek infrastruktur di IKN yang meliputi infrastruktur infrastructure project pipelines in IKN, including renewable
sektor energi terbarukan dan sektor transportasi untuk energy and transportation sector projects, to obtain
mendapatkan Fasilitas Pengembangan Proyek dari Project Development Facilities from the Ministry of Finance.
Kementerian Keuangan.
Hingga akhir tahun 2025, Perseroan telah melaksanakan As of the end of 2025, the Company has implemented
Fasilitas PDF Penugasan khususnya untuk proyek KPBU the Assignment PDF Facility, particularly for PPP projects,
pada 17 Proyek di sepanjang tahun 2025, dengan 10 for 17 projects throughout 2025, of which 10 projects are
proyek di antaranya merupakan Fasilitas Penyiapan Project Preparation Facilities for IKN.
Proyek untuk IKN.
Nama Proyek Estimasi Nilai Proyek
No Project Estimated Value
Project Name
Bendungan Merangin dan Integrasinya dengan SPAM Rp6,5 triliun
1
Merangin Dam and its Integration with the Drinking Water Supply System (SPAM) IDR6.5 trillion
Rumah Susun Karawang Spuur Rp271 miliar
2
Karawang Spuur Flats IDR271 billion
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
SPAM Regional Jatigede Tahap I Rp3,4 triliun
3
Jatigede Regional Drinking Water Supply System (SPAM) Phase I IDR3.4 trillion
TPAS Manggar Kota Balikpapan Rp1,9 triliun
4
Manggar Final Waste Processing Facility (TPAS), Balikpapan City IDR1.9 trillion
RSPTN Unpad Kabupaten Sumedang Rp494 miliar
5
Padjadjaran University Teaching Hospital (RSPTN), Sumedang Regency IDR494 billion
Perkeretaapian Perkotaan Metropolitan Bandung Rp14,8 triliun
6
Bandung Metropolitan Urban Railway IDR14.8 trillion
RSUD Inche Abdoel Moeis Kota Samarinda Rp743 miliar
7
Inche Abdoel Moeis Regional General Hospital (RSUD), Samarinda City IDR743 billion
FPP IKN Sektor Perumahan Tahap 1 (3 proyek) Rp8,12 triliun
8
IKN Project Preparation Facility (FPP) – Housing Sector Phase 1 (3 projects) IDR8.12 trillion
FPP IKN Sektor Perumahan Tahap 2 (3 proyek) Rp20,64 triliun
9
IKN Project Preparation Facility (FPP) – Housing Sector Phase 2 (3 projects) IDR20.64 trillion
FPP IKN Sektor Jalan dan Multi Utility Tunnel (4 proyek) Rp68,19 triliun
10
IKN Project Preparation Facility (FPP) – Road and Multi Utility Tunnel Sector (4 projects) IDR68.19 trillion
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Fasilitas Pengembangan Proyek Non- Non-Assignment Project Development Facilities
Penugasan
Perseroan juga menindaklanjuti kegiatan penyiapan The Company also continues the implementation of
proyek di luar skema Fasilitas PDF Penugasan dengan project preparation activities outside the Assignment
fokus pada pemberian dukungan dan bantuan teknis PDF Facility scheme, focusing on providing support
baik bagi sektor publik maupun swasta. Kegiatan ini and technical assistance for both public and private
bertujuan untuk memastikan proyek yang dipersiapkan sectors. These activities aim to ensure that prepared
memenuhi standar keuangan, ekonomi, sosial, dan projects meet applicable financial, economic, social, and
lingkungan yang berlaku. Penyiapan proyek dijalankan environmental standards. Project preparation is carried
oleh unit terpisah dari unit bisnis pembiayaan untuk out by a unit separate from the financing business unit
meminimalkan benturan kepentingan, mencakup to minimize conflicts of interest, covering the preparation
penyusunan studi kelayakan, detailed engineering design, of feasibility studies, detailed engineering design, social
analisis aspek sosial dan lingkungan, pelatihan, serta and environmental analysis, training, as well as sectoral
konsultasi perencanaan teknis sektoral. technical planning advisory.
Pendanaan untuk proyek Non-Penugasan dikelola Funding for Non-Assignment projects is managed
melalui kombinasi dana internal Perseroan dan dana through a combination of the Company’s internal funds
dari lembaga donor atau biasa disebut PDF Dana and funds from donor institutions, commonly referred to
Donor, dengan pedoman yang selaras antara internal as Donor-Funded PDF, with aligned guidelines between
Perseroan dan Lembaga Donor terkait. Kreditanstalt für the Company and the respective donor institutions.
Wiederaufbau Bankengruppe (KfW) Jerman memberikan Kreditanstalt für Wiederaufbau Bankengruppe (KfW) of
hibah senilai EUR 16,08 juta dari Uni Eropa melalui Program Germany provides a grant of EUR16.08 million from the
Support for Infrastructure Investment in Indonesia European Union through the Support for Infrastructure
(S4I) untuk mendukung penyiapan proyek di sektor Investment in Indonesia (S4I) Program to support project
urban infrastructure dan renewable energy. Perjanjian preparation in the urban infrastructure and renewable
hibah yang ditandatangani pada Desember 2019 ini energy sectors. The grant agreement, signed in December
berlaku hingga tahun 2026 dan menyalurkan project 2019, is valid until 2026 and provides project development
development facility serta pendampingan, baik untuk facilities and assistance for both regional government
pembangunan infrastruktur pemerintah daerah maupun infrastructure development and renewable energy
proyek renewable energy yang dikembangkan oleh BUMN projects developed by SOEs and private entities through
dan entitas swasta melalui skema independent power independent power producer schemes. This grant is
producer. Hibah ini direncanakan untuk diperpanjang planned to be extended until 2028.
hingga 2028.
Dalam mendukung program SDG Indonesia One Initiative, In supporting the SDG Indonesia One Initiative program,
Agence Française de Développement (AFD) Perancis Agence Française de Développement (AFD) of France
memberikan hibah senilai EUR 5 juta yang juga berasal provides a grant of EUR5 million, also sourced from the
dari Uni Eropa dengan EUR2 juta di antaranya dialokasikan European Union, of which EUR2 million is specifically
khusus untuk kegiatan penyiapan proyek. Perjanjian allocated for project preparation activities. This grant
hibah ini ditandatangani pada Desember 2019 serta agreement, signed in December 2019 and valid until
berlaku hingga tahun 2027 dan bertujuan mendukung 2027, aims to support the development of projects that
pengembangan proyek yang mencerminkan adaptasi reflect climate change adaptation while achieving the PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
terhadap perubahan iklim sekaligus pencapaian Sustainable Development Goals in Indonesia.
Sustainable Development Goals di Indonesia.
Selain, terdapat fasilitas penyiapan proyek yang berasal In addition, there is a project preparation facility from the
Green Climate Fund senilai Rp 5,6 Miliar dalam rangka Green Climate Fund amounting to IDR5.6 billion to support
mendukung penyusunan Feasibility Study untuk program the preparation of a Feasibility Study for the diesel-to-
dedieselisasi di wilayah Indonesia Timur khususnya renewable transition program in Eastern Indonesia,
Provinsi Maluku Utara dan Maluku. Kegiatan ini bertujuan particularly in North Maluku and Maluku Provinces. This
untuk mengurangi konsumsi bahan bakar minyak initiative aims to reduce fuel consumption from diesel
dari operasi pembangkit listrik tenaga diesel dengan power plant operations through improved operational
peningkatan efisiensi operasi dan dukungan teknologi efficiency and the adoption of environmentally friendly
alternatif ramah lingkungan seperti Solar Photovoltaic alternative technologies such as Solar Photovoltaic and
dan Battery Energy Storage System. Battery Energy Storage System.
Sepanjang tahun 2025, Perseroan mengimplementasikan Throughout 2025, the Company implemented several
beberapa proyek yang memanfaatkan fasilitas PDF Donor projects utilizing the Donor-Funded PDF facility, including
termasuk beberapa proyek carryover dari tahun 2024, several carryover projects from 2024, namely:
di antaranya:
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
1. Sistem Penyediaan Air Minum Cikereteg, Bogor; 1. Drinking Water Supply System (SPAM) Cikereteg,
Bogor;
2. Pembangkit Listrik Tenaga Air Busang, Kalimantan 2. Busang Hydropower Plant, Central Kalimantan;
Tengah;
3. Pembangkit Listrik Tenaga Surya Dedieselisasi Maluku 3. Solar Power Plant for Diesel Reduction Program in
dan Maluku Utara; Maluku and North Maluku;
4. Pembangkit Listrik Tenaga Minihidro Aek Tomuan, 4. Aek Tomuan Mini Hydropower Plant, North Sumatra;
Sumatra Utara;
5. Sistem Pengelolaan Sampah di TPA Sarimukti, Jawa 5. Waste Management System at Sarimukti Landfill,
Barat; West Java;
6. Sistem Pengelolaan Sampah di TPA Banjardowo, 6. Waste Management System at Banjardowo Landfill,
Kabupaten Jombang; Jombang Regency;
7. Sistem Pengelolaan Sampah di TPA Srabah, 7. Waste Management System at Srabah Landfill,
Kabupaten Trenggalek; Trenggalek Regency;
8. Koridor Perkotaan Terintegrasi, Kota Depok; 8. Integrated Urban Corridor, Depok City;
9. Pembangkit Listrik Tenaga Air Pumped Storage 9. Pumped Storage Hydropower Plant Sumatra, North
Sumatra, Sumatra Utara (carryover 2024); Sumatra (carryover 2024);
10. Pembangkit Listrik Tenaga Air Pumped Storage 10. Pumped Storage Hydropower Plant Grindulu, East
Grindulu, Jawa Timur (carryover 2024). Java (carryover 2024).
Program Penguatan Ekosistem Infrastruktur Infrastructure Ecosystem Strengthening
Program
Perseroan aktif mengembangkan ekosistem infrastruktur The Company actively develops the infrastructure
sebagai bagian dari upaya mendukung kegiatan ecosystem as part of its efforts to support project
pengembangan proyek, baik yang termasuk Penugasan development activities, both under Assignment and Non-
maupun Non-Penugasan. Inisiatif ini ditujukan untuk Assignment schemes. This initiative aims to accelerate
mempercepat pembangunan infrastruktur di Indonesia infrastructure development in Indonesia by providing
dengan memberikan nilai tambah melalui originasi added value through project origination, capacity
proyek, capacity building, transfer pengetahuan, serta building, knowledge transfer, and coordination with
koordinasi dengan mitra strategis, termasuk lembaga strategic partners, including international institutions
internasional dan instansi pemerintah. and government agencies.
Sepanjang tahun 2025, fokus kegiatan penguatan Throughout 2025, the focus of ecosystem strengthening
ekosistem tercermin melalui aktivitas project pipelining activities was reflected through intensive project
yang intensif. Perseroan memberikan pendampingan pipelining activities. The Company provided assistance
kepada Kementerian/Lembaga dalam perencanaan to Ministries/Agencies in project planning, while also
proyek, sekaligus melaksanakan capacity building kepada conducting capacity building for Regional Governments
Pemerintah Daerah untuk memperkuat kesiapan pemangku to enhance the readiness of local stakeholders in
kepentingan lokal dalam implementasi proyek. Koordinasi project implementation. Coordination with international
dengan lembaga internasional juga terus dijalankan untuk institutions was also continuously carried out to support
mendukung pengembangan infrastruktur nasional dan national infrastructure development and ensure the
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
memastikan penerapan praktik terbaik. adoption of best practices.
Berbagai kegiatan penguatan ekosistem yang telah Various ecosystem strengthening activities implemented
dilaksanakan sepanjang tahun 2025 antara lain: throughout 2025 include:
1. Perpanjangan Ketiga Memorandum of Understanding 1. The third extension of the Memorandum of
No. MoU-006/ SMI/0725 antara PT SMI dengan Understanding No. MoU-006/SMI/0725 between PT SMI
Infrastructure Asia dalam rangka kolaborasi and Infrastructure Asia for infrastructure development
pengembangan infrastruktur di Indonesia; collaboration in Indonesia;
2. Dukungan atas Program Merdeka Belajar Kampus 2. Support for the Merdeka Belajar Kampus Merdeka
Merdeka dengan Universitas Indonesia khususnya Program with University of Indonesia, particularly for
program magang pengembangan proyek; project development internship programs;
3. Pendampingan Kementerian Koordinator Bidang 3. Assistance to the Coordinating Ministry for
Infrastruktur dan Pembangunan Kewilayahan dalam Infrastructure and Regional Development in the
rangka pelaksanaan International Conference of implementation of the International Conference on
Infrastructure 2025 pada 11-12 Juni 2025; Infrastructure 2025 on June 11–12, 2025;
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Page 17
4. Pendampingan Pemerintah Provinsi DKI Jakarta untuk 4. Assistance to the DKI Jakarta Provincial Government
identifikasi opsi pembiayaan infrastruktur daerah; in identifying regional infrastructure financing options;
5. Diskusi serta berbagi wawasan mengenai 5. Discussions and knowledge sharing on PPP
penyelenggaraan KPBU dengan perwakilan implementation with international representatives
internasional dari Turkiye, Angola dan Tanzania; from Türkiye, Angola, and Tanzania;
6. Kegiatan sharing session serta pengembangan 6. Sharing sessions and capacity building activities
kapasitas terkait alternatif pembiayaan untuk related to alternative financing for infrastructure
pengembangan infrastruktur kepada Kementerian development with Ministries and/or Government
dan/atau Instansi Pemerintah seperti Kementerian Institutions such as the Ministry of Finance, Ministry of
Keuangan, Kementerian Pekerjaan Umum, PT PLN Public Works, PT PLN (Persero), Regional Governments,
(Persero), Pemerintah Daerah, Bank Indonesia, Rumah Bank Indonesia, Vertical Hospitals, and State
Sakit Vertikal hingga Perguruan Tinggi Negeri; Universities;
7. Identifikasi awal terkait perencanaan dan/atau 7. Initial identification for the planning and/or preparation
penyiapan proyek Tanggul Laut Pantai Utara Jawa of the Northern Coastal Protection (Pantura) Project of
termasuk koordinasi awal dengan Badan Otorita Java, including initial coordination with the Northern
Pengelola Pantai Utara Jawa; Coastal Java Management Authority;
8. Kolaborasi pilar pengembangan proyek dan 8. Collaboration between the project development and
pembiayaan publik bersama Special Mission Vehicle public financing pillars with Special Mission Vehicles
seperti PT Penjaminan Infrastruktur Indonesia (Persero) such as PT Penjaminan Infrastruktur Indonesia
serta PT Sarana Multigriya Finansial (Persero) untuk (Persero) and PT Sarana Multigriya Finansial (Persero)
pelaksanaan Special Mission Vehicles Business Forum; for the implementation of the Special Mission Vehicles
Business Forum;
9. Koordinasi perihal inisiasi kerja sama antara PT 9. Coordination on the initiation of cooperation between
SMI dan Universitas Andalas terkait kolaborasi PT SMI and Universitas Andalas regarding collaboration
perencanaan dan pelaksanaan skema pembiayaan in planning and implementing infrastructure
pengembangan infrastruktur di lingkungan kampus development financing schemes within the university
Universitas Andalas. environment.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
TINJAUAN KINERJA KEUANGAN
FINANCIAL PERFORMANCE REVIEW
Pembahasan dan analisis kinerja keuangan yang The analysis and discussion of financial performance
disajikan dalam Laporan Tahunan ini didasarkan pada in this Annual Report refer to the Consolidated Financial
Laporan Keuangan untuk tahun-tahun yang berakhir Statements for the years ending December 31, 2025, which
pada 31 Desember 2025. Laporan keuangan tersebut have been audited by Public Accounting Firm Amir Abadi
telah diaudit oleh Kantor Akuntan Publik (KAP) Amir Jusuf, Aryanto, Mawar & Rekan (RSM Indonesia) with an
Abadi Jusuf, Aryanto, Mawar & Rekan (RSM Indonesia) unqualified opinion. The financial statements of PT Sarana
dengan opini Wajar Tanpa Pengecualian (WTP). Adapun Multi Infrastruktur (Persero) are prepared in accordance
Laporan Keuangan PT Sarana Multi Infrastruktur (Persero) with the Financial Accounting Standards in Indonesia,
disusun sesuai dengan Standar Akuntansi Keuangan namely the Statements of Financial Accounting Standards
yang berlaku di Indonesia, yaitu Pernyataan Standar (PSAK) and the Interpretations of Financial Accounting
Akuntansi Keuangan (PSAK) beserta Interpretasi Standar Standards (ISAK) issued by the Indonesian Financial
Akuntansi Keuangan (ISAK) yang diterbitkan oleh Dewan Accounting Standards Board – Indonesian Institute of
Standar Akuntansi Indonesia – Ikatan Akuntan Indonesia Accountants (DSAK-IAI).
(DSAK-IAI).
POSISI KEUANGAN FINANCIAL POSITION
dalam juta Rupiah
in IDR million
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
2025 2024
Description Selisih
%
Difference
Jumlah Aset
121.325.658 120.070.036 1.255.622 1,05%
Total Assets
Jumlah Liabilitas
72.275.672 75.789.161 (3.513.489) -4,64%
Total Liabilities
Dana Syirkah Temporer
2.636.100 469.655 2.166.445 461,28%
Temporary Syirkah Funds
Jumlah Ekuitas
46.413.886 43.811.220 2.602.666 5,94%
Total Equity
Sepanjang tahun 2025, kinerja keuangan PT SMI tercermin Throughout 2025, PT SMI’s financial performance reflected
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
dalam capaian yang positif, ditandai dengan peningkatan positive results, as indicated by increases in total assets
aset dan ekuitas masing-masing sebesar 1,05% dan 5,94% and equity of 1.05% and 5.94%, respectively, compared
bila dibandingkan dengan tahun 2024. Pada saat yang to 2024. At the same time, liabilities decreased by 4.64%,
sama, liabilitas mengalami penurunan sebesar 4,64%, while Temporary Syirkah Funds increased significantly by
sementara Dana Syirkah Temporer meningkat signifikan 461.28% compared to the previous period.
sebesar 461,28% dibandingkan periode sebelumnya.
Pada periode 2021–2025, Perseroan mencatatkan During the 2021–2025 period, the Company recorded asset
pertumbuhan aset dengan tren meningkat meskipun terjadi growth with an increasing trend, despite a temporary decline
penurunan sementara pada 2023, kinerja aset menunjukkan in 2023. Asset performance showed a strong recovery in
pemulihan yang kuat pada 2024 dan berlanjut secara stabil 2024 and continued steadily through 2025. Asset growth
hingga 2025. Pertumbuhan aset selama periode 2021– during the 2021–2025 period was primarily driven by the
2025 terutama didorong oleh peningkatan pada pinjaman increase in loans and sharia financing, as well as higher
diberikan dan pembiayaan syariah serta peningkatan placements in short-term investment instruments.
penempatan pada instrumen investasi jangka pendek.
Selama periode 2021–2025, liabilitas dan dana syirkah Throughout the 2021–2025 period, the Company’s liabilities
temporer Perseroan menunjukkan tren yang relatif stabil, and temporary syirkah funds showed a relatively stable
dengan strategi rebalancing sumber pendanaan khususnya trend, with a rebalancing strategy of funding sources,
288 penurunan pinjaman pemerintah yang diimbangi oleh particularly a reduction in government loans offset by an
Page 19
peningkatan pendanaan berbasis pasar seperti penerbitan increase in market-based funding such as bond issuances
surat utang dan sukuk mudharabah. and mudharabah sukuk.
Selama periode 2021–2025, ekuitas Perseroan menunjukkan During the same period, the Company’s equity showed
peningkatan secara konsisten. Dengan tidak adanya consistent growth. With no changes in share capital, the
perubahan pada modal saham, maka peningkatan increase in equity was mainly driven by significant growth
ekuitas terutama didorong oleh pertumbuhan saldo laba in retained earnings, indicating that the Company’s growth
yang signifikan, hal ini menunjukkan bahwa pertumbuhan was primarily supported by its performance.
yang dicapai Perseroan terutama didukung oleh kinerja
Perseroan.
Perkembangan Posisi Keuangan Tahun 2024-2025 (Rp Milliar)
Trend of Financial Position for 2024-2025
120.070 121.326
75.789 72.276 470 2.636 43.811 46.414
Jumlah Aset Jumlah Liabilitast Dana Syirkah Temporer Jumlah Ekuitas
Total Assets Total Liabilities Temporary Syirkah Funds Total Equity
2024 2025
Adapun kinerja aset PT SMI tahun 2025 dibandingkan The performance of PT SMI’s assets in 2025 compared
dengan tahun 2024, adalah sebagai berikut. to 2024 is as follows.
Aset Assets
dalam juta Rupiah
in IDR million
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
2025 2024
Description
Selisih %
Kas dan Setara Kas-Bersih
13.456.082 10.804.125 2.651.957 24,55%
Cash and Cash Equivalents – net
Dana Dibatasi Penggunaannya
1.281.022 835.398 445.624 53,34%
Restricted Funds PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Efek-Efek
12.499.516 11.629.625 869.892 7,48%
Securities
Pinjaman Diberikan dan Pembiayaan Syariah-
Bersih 87.620.847 87.514.802 106.045 0,12%
Loans Receivables and Sharia Financing – net
Piutang atas Penugasan Fasilitasi Penyiapan
Proyek
53.742 61.623 (7.880) -12,79%
Receivables from Assignment for Facilitation on
Project Preparation
Biaya Dibayar Dimuka
6.684 4.227 2.457 58,12%
Prepaid Expenses
Pendapatan Masih Harus Diterima-Bersih
2.065.079 3.317.943 (1.252.863) -37,76%
Accrued Income – net
Penyertaan Saham
3.894.733 3.844.255 50.478 1,31%
Investment in Equity
Uang Muka Investasi
0 1.594.587 (1.594.587) -100,00%
Investment in Advance
Aset Tetap dan Aset Hak Guna-Bersih
Properties and Equipments and Right-of-Use 339.585 359.080 (19.494) -5,43%
Assets – net 289
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
dalam juta Rupiah
in IDR million
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
2025 2024
Description
Selisih %
Aset Tak Berwujud-Bersih
37.135 37.176 (41) -0,11%
Intangible Assets – net
Aset Pajak Tangguhan
57.178 57.779 (601) -1,04%
Deferred Tax Assets
Aset Lain-Lain-Bersih
14.053 9.417 4.636 49,23%
Other Assets – net
Jumlah Aset
121.325.658 120.070.036 1.255.622 1,05%
Total Assets
Pada 31 Desember 2025, Perseroan membukukan total aset As of December 31, 2025, the Company recorded total
sebesar Rp121,33 triliun, meningkat Rp1,26 triliun atau 1,05% assets of IDR121.33 trillion, an increase of IDR1.26 trillion or
dibandingkan dengan tahun 2024 sebesar Rp120,07 triliun. 1.05% compared to IDR120.07 trillion in 2024. This growth
Kenaikan tersebut terutama didorong oleh peningkatan was primarily driven by an increase in cash and cash
pada kas dan setara kas- bersih yang berasal dari equivalents—net, resulting from the repayment of a
penerimaan pelunasan mandatory convertible loan dari mandatory convertible loan from an investee that had
investee yang sebelumnya dicatat sebagai uang muka previously been recorded as an advance for investment in
investasi pada tahun 2024, serta penerbitan sukuk dan 2024, as well as the issuance of sukuk and debt securities
surat utang pada tahun 2025. Kenaikan saldo kas tersebut in 2025. The increase in cash balance reflects an improved
mencerminkan membaiknya posisi likuiditas Perseroan liquidity position at the end of 2025. With higher cash and
pada akhir tahun 2025. Dengan meningkatnya kas dan cash equivalents, the Company has greater flexibility
setara kas, Perseroan memiliki fleksibilitas yang lebih to support operational needs and advance its future
besar untuk mendukung kebutuhan operasional, serta business development strategies.
mendukung strategi pengembangan usaha ke depan.
Jumlah Aset Tahun 2021-2025
Total Assets for 2021-2025
121.326
120.070
114.502 117.129 115.757
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
2021 2022 2023 2024 2025
Kas dan Setara Kas - Bersih Cash and Cash Equivalents – Net
Kas dan Setara Kas – Bersih PT SMI per 31 Desember As of December 31, 2025, PT SMI’s cash and cash
2025 tercatat Rp13,46 triliun, naik 24,55% atau senilai equivalents—net amounted to IDR13.46 trillion, an increase
Rp2,65 triliun bila dibandingkan 31 Desember 2024 yang of 24.55% or IDR2.65 trillion compared to IDR10.80 trillion as
mencapai Rp10,80 triliun. Hal ini terutama disebabkan of December 31, 2024. This was mainly driven by proceeds
oleh penerimaan dari pelunasan mandatory convertible from the repayment of a mandatory convertible loan
loan sebesar Rp1.594.587 juta yang dicatat sebagai uang amounting to IDR1,594,587 million, which had been
muka investasi pada tahun 2024, serta penerimaan dari recorded as an advance for investment in 2024, as
penjualan investasi saham sebesar Rp611.111 juta. Dengan well as proceeds from the sale of equity investments
meningkatnya kas dan setara kas, Perseroan memiliki amounting to IDR611,111 million. The increase in cash and
fleksibilitas yang lebih besar untuk mendukung kebutuhan cash equivalents reflects the Company’s improved
operasional, serta mendukung strategi pengembangan liquidity position, providing greater flexibility to support
usaha ke depan. operational needs and future business development
290 strategies.
Page 21
Dana Dibatasi Penggunaannya Restricted Funds
Dana Dibatasi Penggunaannya Perseroan per 31 Desember The Company’s Restricted Funds as of December 31, 2025
2025 tercatat sebesar Rp1,28 triliun, meningkat sebesar amounted to IDR1.28 trillion, an increase of IDR445.62
Rp445,62 miliar atau 53,34% bila dibandingkan posisi 31 billion or 53.34% compared to December 31, 2024, which
Desember 2024 yang mencapai Rp835,40 miliar. Kenaikan amounted to IDR835.40 billion. This increase was mainly
ini terutama disebabkan oleh adanya penerimaan dana due to the receipt of funds in the form of loans from ADB
dalam bentuk pinjaman dari ADB – SIO GFF yang dicatatkan – SIO GFF, which are recorded as restricted funds as they
sebagai dana dibatasi penggunaannya karena hanya can only be used for lending to debtors approved by
dapat digunakan untuk pemberian pinjaman kepada ADB – SIO GFF.
debitur yang telah mendapat persetujuan dari ADB – SIO GFF.
Kenaikan saldo dana dibatasi penggunaannya tersebut The increase in restricted funds reflects increased funding
mencerminkan meningkatnya dukungan pendanaan support for financing disbursement in accordance
dalam rangka penyaluran pembiayaan sesuai ketentuan with ADB – SIO GFF provisions. This strengthens the
ADB–SIO GFF. Hal ini memperkuat kapasitas Perseroan Company’s capacity to channel financing and support
dalam menyalurkan pembiayaan serta mendukung the implementation of financing strategies in line with
implementasi strategi pembiayaan yang sejalan dengan the program mandate.
mandat program.
Efek-Efek Securities
PT SMI mencatatkan Efek-Efek per 31 Desember PT SMI recorded Securities as of December 31, 2025
2025 sebesar Rp12,50 triliun. Angka ini menunjukkan amounting to IDR12.50 trillion. This represents an increase
peningkatan sebesar Rp869,89 miliar atau 7,48% bila of IDR869.89 billion or 7.48% compared to December 31,
dibandingkan dengan 31 Desember 2024 yang mencapai 2024, which amounted to IDR11.63 trillion. This increase
Rp11,63 triliun. Peningkatan ini terutama disebabkan oleh was mainly due to purchases of government-issued
pembelian atas efek-efek yang diterbitkan Pemerintah securities during 2025 as part of optimizing fund utilization
selama tahun 2025 sebagai bagian dari optimalisasi to increase the Company’s income while taking into
penggunaan dana guna meningkatkan pendapatan account the level of risk of such securities investments.
Perseroan dengan tetap mempertimbangkan tingkat The increase in the securities portfolio reflects the
risiko dari investasi efek tersebut. Kenaikan portofolio Company’s efforts to manage liquidity productively
efek tersebut mencerminkan langkah Perseroan through placements in relatively low-risk instruments,
dalam mengelola likuiditas secara produktif melalui while maintaining a balance between return levels and
penempatan pada instrumen berisiko relatif rendah, prudence principles.
sekaligus menjaga keseimbangan antara tingkat imbal
hasil dan prinsip kehati-hatian
Pinjaman Diberikan dan Pembiayaan Loans Receivables and Sharia
Syariah – Bersih Financing – net
Pada 31 Desember 2025, Pinjaman Diberikan dan As of December 31, 2025, Loans and Sharia Financing –
Pembiayaan Syariah – Bersih, secara total dan nett CKPN, Net, in total and net of allowance for impairment losses
tercatat sebesar Rp87,62 triliun, mengalami kenaikan (CKPN), amounted to IDR87.62 trillion, an increase of PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
sebesar Rp106,04 miliar atau 0,12% bila dibandingkan IDR106.04 billion or 0.12% compared to the previous year,
tahun sebelumnya yang sebesar Rp87,51 triliun. Kenaikan which amounted to IDR87.51 trillion. This increase was
ini disebabkan oleh adanya pencairan pembiayaan due to financing disbursements after being netted with
setelah di net dengan pembayaran angsuran serta installment payments and accelerated repayments by
pelunasan dipercepat debitur. debtors.
13,09% 15,52%
2024 2025
86,91% 84,48%
Pinjaman Konvesional Pembiayaan Syariah 291
Conventional Loans Sharia Financing
Page 22
04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Pinjaman Konvensional tahun 2025 tercatat sebesar Conventional Loans in 2025 amounted to IDR76.51 trillion
Rp76,51 triliun (84,48%), turun 2,17% bila dibandingkan (84.48%), decreasing by 2.1% compared to the previous
tahun sebelumnya yang sebesar Rp78,21 triliun (86,91%). year of IDR78.21 trillion (86.91%). Meanwhile, Sharia
Sementara Pinjaman Syariah tercatat sebesar Rp14,06 Financing amounted to IDR14.06 trillion (15.52%), increasing
triliun (15,52%), mengalami kenaikan sebesar 18,53% dari by 18.53% from the previous year of IDR11.86 trillion (13.09%).
tahun lalu yang sebesar Rp11,86 triliun (13,09%).
Piutang atas Penugasan Fasilitasi Penyiapan Receivables from Assignment for Facilitation on
Proyek Project Preparation
Perseroan mencatatkan Piutang atas Penugasan The Company recorded Receivables from Assignment
Fasilitasi Penyiapan Proyek per 31 Desember 2025 sebesar for Facilitation on Project Preparation as of December
Rp53,74 miliar, jumlah tersebut mengalami penurunan 31, 2025 amounting to IDR53.74 billion, representing
sebesar Rp7,88 miliar atau menurun 12,79% dari tahun a decrease of IDR7.88 billion or 12.79% compared to
sebelumnya yang tercatat sebesar Rp61,62 miliar. Hal ini the previous year, which amounted to IDR61.62 billion.
disebabkan karena adanya pembayaran/penggantian This was due to reimbursements/payments from the
dari Pemerintah atas biaya yang telah dikeluarkan oleh Government for costs incurred by the Company in relation
Perseroan dalam rangka pelaksanaan penugasan yang to the implementation of the assignment received by
diterima Perseroan. the Company.
Biaya Dibayar di Muka Prepaid Expenses
Biaya Dibayar di Muka PT SMI pada 31 Desember 2025 PT SMI’s Prepaid Expenses as of December 31, 2025
tercatat sebesar Rp6,68 miliar, yaitu meningkat sebesar amounted to IDR6.68 billion, representing an increase
58,12% atau senilai Rp2,46 miliar bila dibandingkan akhir of 58.12% or IDR2.46 billion compared to the end of 2024,
2024 yang mencapai Rp4,23 miliar. Hal ini terutama which amounted to IDR4.23 billion. This was mainly
dipengaruhi oleh biaya penerbitan sukuk dan asuransi influenced by sukuk issuance costs and prepaid insurance
dibayar dimuka selama tahun 2025. during 2025.
Pendapatan Masih Harus Diterima – Bersih Accrued Income – Net
Per 31 Desember 2025, Pendapatan Masih Harus Diterima As of December 31, 2025, the Company’s Accrued Income
– Bersih Perseroan tercatat sebesar Rp2,07 triliun turun – Net amounted to IDR2.07 trillion, a decrease of 37.76%
37,76% bila dibandingkan dengan posisi 31 Desember compared to IDR3.32 trillion as of December 31, 2024. This
2024 yang sebesar Rp3,32 triliun. Penurunan ini terutama decrease was primarily due to the receipt of interest on
disebabkan oleh penerimaan dari piutang bunga the mandatory convertible loan (MCL) in the amount of
mandatory convertible loan (MCL) sebesar Rp1,14 triliun IDR1.14 trillion, which was paid in full to the Company upon
yang seluruhnya dibayarkan kepada Perseroan saat the MCL’s maturity in November 2025.
pelunasan MCL pada November 2025.
Penyertaan Saham Investment in Equity
Pada tanggal 31 Desember 2025, Penyertaan Saham tercatat As of December 31, 2025, Investment in Equity amounted
sebesar Rp3,89 triliun, mengalami kenaikan 1,31% atau senilai to IDR3.89 trillion, an increase of 1.31% or IDR50.48 billion
Rp50,48 miliar bila dibandingkan dengan posisi 31 Desember compared to IDR3.84 trillion as of December 31, 2024.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
2024 yang tercatat sebesar Rp3,84 triliun. Hal ini terutama This was mainly contributed by the recognition of the
dikontribusikan oleh penyerapan laba rugi investee yang investee’s profit or loss using the equity method.
dicatat oleh Perseroan dengan metode ekuitas.
Uang Muka Investasi Investment in Advance
Pada tanggal 31 Desember 2025, Uang Muka Investasi As of December 31, 2025, Investment in Advance
tercatat sebesar nihil, menurun sebesar Rp1,59 triliun amounted to nil, decreasing by IDR1.59 trillion or 100%
atau setara 100% bila dibandingkan 31 Desember compared to December 31, 2024, which amounted to
tahun 2024 yang tercatat sebesar Rp1,59 triliun. Hal IDR1.59 trillion. This was due to the full repayment of
ini disebabkan oleh pelunasan seluruh shareholder shareholder mandatory convertible loans by the investee,
mandatory convertible loan oleh investee yang dicatat which had been recorded as investment in advance in
sebagai uang muka investasi pada tahun 2024, hal ini 2024, in line with the disposal of all of the Company’s
sejalan dengan penjualan semua penyertaan saham equity investments in that investee.
Perseroan pada investee tersebut.
Aset Tetap dan Aset Hak Guna – Bersih Properties and Equipments and Right-of-Use
Pada tanggal 31 Desember 2025, Aset Tetap dan Aset Assets – Net
Hak Guna – Bersih tercatat sebesar Rp339,59 miliar, As of December 31, 2025, Properties and Equipments
mengalami penurunan 5,43% atau senilai Rp19,49 miliar and Right-of-Use Assets – Net amounted to IDR339.59
292 bila dibandingkan dengan posisi 31 Desember 2024 billion, a decrease of 5.43% or IDR19.49 billion compared to
Page 23
yang tercatat sebesar Rp359,08 miliar. Hal ini terutama IDR359.08 billion as of December 31, 2024. This was mainly
disebabkan oleh depresiasi atas aset tetap dan aset hak due to depreciation of properties and equipments and
guna di tahun 2025. right-of-use assets during 2025.
Aset Tak Berwujud – Bersih Intangible Assets – Net
Pada tanggal 31 Desember 2025, PT SMI mencatatkan As of December 31, 2025, PT SMI recorded Intangible Assets
Aset Tak Berwujud – Bersih senilai Rp37,14 miliar, menurun – Net amounting to IDR37.14 billion, a decrease of IDR41.12
sebesar Rp41,12 juta atau 0,11% bila dibandingkan tahun million or 0.11% compared to the previous year, which
sebelumnya yang mencapai Rp37,18 miliar. Penurunan ini amounted to IDR37.18 billion. This decrease was due to
terjadi karena amortisasi atas Aset Tak Berwujud selama amortization of intangible assets during 2025.
tahun 2025.
Aset Pajak Tangguhan Deferred Tax Assets
Perseroan mencatatkan Aset Pajak Tangguhan senilai The Company recorded Deferred Tax Assets amounting
Rp57,18 miliar pada 31 Desember 2025, turun 1,04% atau to IDR57.18 billion as of December 31, 2025, a decrease of
senilai Rp600,57 juta bila dibandingkan akhir Desember 1.04% or IDR600.57 million compared to IDR57.78 billion at
2024 yang mencapai Rp57,78 miliar. Hal ini terutama the end of December 2024. This was mainly influenced
dipengaruhi oleh perbedaan temporer pendapatan dan by temporary differences between accounting and tax
beban Perseroan antara perhitungan pajak dan komersial. calculations of the Company’s income and expenses.
Aset Lain-Lain – Bersih Other Assets – Net
Aset Lain-Lain – Bersih PT SMI tercatat sebesar Rp14,05 PT SMI’s Other Assets – Net amounted to IDR14.05 billion, an
miliar, meningkat sebesar Rp4,64 miliar atau setara increase of IDR4.64 billion or 49.23% compared to IDR9.42
49,23% bila dibandingkan tahun 2024 yang tercatat billion in 2024. This was due to an increase in receivables
Rp9,42 miliar. Hal ini disebabkan oleh peningkatan from mutual fund sales recorded under other assets.
piutang dari penjualan reksadana yang dicatat dalam
aset lain-lain.
Liabilitas dan Dana Syirkah Temporer Liabilities and Temporary Syirkah Funds
dalam juta Rupiah
in IDR million
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
2025 2024
Description Selisih
%
Difference
Pinjaman Diterima dari Bank dan Lembaga
Keuangan Lainnya
25.001.940 28.220.130 (3.218.191) -11,40%
Loans Received from Banks and Other Financial
Institution
Utang Pajak
261.110 172.938 88.172 50,98%
Taxes Payable PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Beban Akrual
563.939 637.265 (73.326) -11,51%
Accrued Expenses
Pendapatan Diterima di Muka
23.257 60.836 (37.579) -61,77%
Unearned Revenue
Liabilitas Derivatif
- 3.112 (3.112) -100,00%
Derivative Liabilities
Surat Utang Diterbitkan
22.843.069 21.287.146 1.555.922 7,31%
Debt Securities Issued
Pinjaman Diterima dari Pemerintah Republik
Indonesia 23.171.345 25.047.725 (1.876.380) -7,49%
Borrowings from the Government of Indonesia
Liabilitas Imbalan Pasca Kerja
191.355 165.718 25.638 15,47%
Post-Employment Benefit Obligation
Liabilitas Lainnya
219.659 194.292 25.367 13,06%
Other Liabilities
Jumlah Liabilitas
72.275.672 75.789.161 (3.513.489) -4,64%
Total Liabilities
293
Page 24
04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
dalam juta Rupiah
in IDR million
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
2025 2024
Description Selisih
%
Difference
Dana Syirkah Temporer Sukuk Mudharabah
2.636.100 469.655 2.166.445 461,28%
Temporary Syirkah Funds Sukuk Mudharabah
Jumlah Liabilitas & Dana Syirkah Temporer
74.911.772 76.258.816 (1.347.044) -1,77%
Total Liabilities & Temporary Syirkah Funds
Pada 31 Desember 2025, PT SMI mencatat Liabilitas As of December 31, 2025, PT SMI recorded Liabilities and
dan Dana Syirkah sebesar Rp74,91 triliun, mengalami Syirkah Funds amounting to IDR74.91 trillion, a decrease
penurunan sebesar Rp1,35 triliun atau 1,77% dibandingkan of IDR1.35 trillion or 1.77% compared to IDR76.26 trillion
posisi tahun sebelumnya sebesar Rp76,26 triliun. Hal in the previous year. This was mainly influenced by
ini terutama dipengaruhi oleh pembayaran angsuran installment payments of loans from banks and other
pinjaman dari Bank dan Lembaga Keuangan lainnya financial institutions amounting to IDR3.22 trillion, followed
sebesar Rp3,22 triliun yang diikuti oleh pelunasan by the repayment of loans received from the Government
pinjaman diterima dari pemerintah sebesar Rp1,88 amounting to IDR1.88 trillion, as well as the issuance of
triliun serta penerbitan obligasi dan sukuk mudharabah bonds and mudharabah sukuk amounting to IDR1.56
masing-masing sebesar Rp1,56 triliun dan Rp2,17 triliun. trillion and IDR2.17 trillion, respectively.
Jumlah Liabilitas & Dana Syirkah Temporer Tahun 2021-2025
Total Liabilities and Temporary Syirkah Funds for 2021-2025
75.602 76.581 73.496 76.259 74.912
2021 2022 2023 2024 2025
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Pinjaman Diterima dari Bank dan Lembaga Loan Received from Banks and Other Financial
Keuangan Lainnya Institutions
Pada tanggal 31 Desember 2025, PT SMI mencatatkan As of December 31, 2025, PT SMI recorded Loans Received
Pinjaman Diterima dari Bank dan Lembaga Keuangan Lainnya from Banks and Other Financial Institutions amounting
sebesar Rp25,00 triliun, mengalami penurunan sebesar Rp3,22 to IDR25.00 trillion, representing a decrease of IDR3.22
triliun atau 11,40% bila dibandingkan tahun sebelumnya trillion or 11.40% compared to the previous year of IDR28.22
yang sebesar Rp28,22 triliun. Penurunan ini disebabkan oleh trillion. This decrease was due to repayments of loans
pembayaran atas pinjaman yang jatuh tempo di tahun 2025. maturing in 2025.
Utang Pajak Taxes Payable
Per 31 Desember 2025, Utang Pajak tercatat sebesar As of December 31, 2025, taxes Payable amounted to
Rp261,11 miliar, meningkat sebesar Rp88,17 miliar atau IDR261.11 billion, an increase of IDR88.17 billion or 50.98%
setara 50,98% bila dibandingkan per 31 Desember 2024 compared to IDR172.94 billion as of December 31, 2024.
yang tercatat Rp172,94 miliar. Hal ini disebabkan oleh This was due to an increase in corporate tax estimates
peningkatan estimasi pajak badan sejalan dengan in line with higher profit before tax in December 2025.
peningkatan laba sebelum pajak di Desember 2025.
294
Page 25
Beban Akrual Accrued Expenses
Pada akhir tahun 2025, Beban Akrual tercatat sebesar At the end of 2025, Accrued Expenses amounted to
Rp563,94 miliar, mengalami penurunan 11,51% atau senilai IDR563.94 billion, a decrease of 11.51% or IDR73.33 billion
Rp73,33 miliar bila dibandingkan dengan posisi akhir compared to IDR637.27 billion at the end of 2024. This was
tahun 2024 yang tercatat sebesar Rp637,27 miliar. Hal mainly due to a decrease in the outstanding amount of
ini terutama disebabkan oleh penurunan pada jumlah loans received from banks and other financial institutions
outstanding pinjaman diterima dari bank dan lembaga compared to 2024.
keuangan lainnya dibandingkan dengan tahun 2024.
Pendapatan Diterima di Muka Unearned Revenue
Pada akhir tahun 2025, PT SMI mencatatkan Pendapatan At the end of 2025, PT SMI recorded Unearned Revenue
Diterima di Muka senilai Rp23,26 miliar, turun sebesar amounting to IDR23.26 billion, a decrease of IDR37.58 billion
Rp37,58 miliar atau 61,77% bila dibandingkan tahun or 61.77% compared to IDR60.84 billion in the previous
sebelumnya yang mencapai Rp60,84 miliar. Penurunan year. This decrease was mainly due to the amortization
tersebut terutama disebabkan adanya amortisasi provisi of provisions related to PEN management fees, as well as
atas biaya Pengelolaan PEN serta reklasifikasi provisi ke the reclassification of provisions into upfront loan fees as
upfront fee pinjaman karena debitur telah melakukan debtors had withdrawn their loan facilities.
penarikan fasilitas pinjaman.
Liabilitas Derivatif Derivative Liabilities
Liabilitas Derivatif Perseroan tercatat sebesar nihil, menurun The Company’s Derivative Liabilities amounted to nil, a
sebesar Rp3,11 miliar atau setara 100% bila dibandingkan decrease of IDR3.11 billion or 100% compared to IDR3.11 billion
tahun 2024 yang tercatat Rp3,11 miliar. Hal ini dikarenakan in 2024. This was because all derivative contracts during
seluruh kontrak derivatif selama tahun berjalan sudah the year had been settled, resulting in no outstanding
selesai, sehingga tidak terdapat eksposur derivatif yang derivative and need to be evaluated so that there are no
masih outstanding dan perlu divaluasi sehingga tidak ada derivative assets or liabilities at the end of 2025.
aset atau liabilitas derivatif pada akhir tahun 2025.
Surat Utang Diterbitkan Debt Securities Issued
Pada 31 Desember 2025, Surat Utang Diterbitkan tercatat As of December 31, 2025, Debt Securities Issued amounted
sebesar Rp22,84 triliun, meningkat sebesar 7,31% atau Rp1,56 to IDR22.84 trillion, an increase of 7.31% or IDR1.56 trillion
triliun bila dibandingkan dengan posisi tahun 2024 yang compared to IDR21.29 trillion in 2024. This increase was
tercatat sebesar Rp21,29 triliun. Peningkatan ini disebabkan driven by debt issuances in 2025, including Sarana Multi
oleh penerbitan surat utang di tahun 2025, berupa Obligasi Infrastruktur Shelf-Registration Bonds I and IV Tranche I,
Berkelanjutan I dan IV Sarana Multi Infrastruktur Tahap I, III III, and IV in 2025, with a total value of IDR7,35 trillion. On
dan IV tahun 2025, dengan total nilai sebesar Rp7,35 triliun. a net basis, the increase of IDR1.56 trillion reflects new
Secara neto, kenaikan sebesar Rp1,56 triliun mencerminkan issuances after deducting debt securities that matured
penerbitan surat utang setelah dikurangi dengan surat during 2025.
utang yang jatuh tempo selama tahun 2025.
Pinjaman Diterima dari Pemerintah Republik Borrowings from the Government of the
Indonesia Republic of Indonesia PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Per 31 Desember 2025, PT SMI mencatatkan Pinjaman As of December 31, 2025, PT SMI recorded Borrowings
Diterima dari Pemerintah Republik Indonesia sebesar from the Government of the Republic of Indonesia
Rp23,17 triliun, mengalami penurunan 7,49% atau amounting to IDR23.17 trillion, decreasing by 7.49% or
senilai Rp1,88 triliun bila dibandingkan dengan posisi IDR1.88 trillion compared to the position as of December
31 Desember 2024 yang tercatat sebesar Rp25,05 31, 2024 of IDR25.05 trillion. This decrease was mainly
triliun. Penurunan tersebut terutama disebabkan oleh due to installment repayments of loans received by
pembayaran angsuran atas pinjaman diterima oleh the Company from the Government of the Republic
Perseroan dari Pemerintah Republik Indonesia (baik yang of Indonesia (including on-lending to IIF as well as to
berupa penerusan pinjaman kepada IIF maupun kepada regional governments under the National Economic
Pemda dalam rangka Pemulihan Ekonomi Nasional). Recovery program).
Liabilitas Imbalan Pasca Kerja Post-Employment Benefit Liabilities
Perseroan mencatatkan Liabilitas Imbalan Pasca Kerja The Company recorded Post-Employment Benefit
senilai Rp191,36 miliar di Desember 2025, naik 15,47% atau Liabilities amounting to IDR191.36 billion as of December
senilai Rp25,64 miliar bila dibandingkan akhir Desember 2025, increasing by 15.47% or IDR25.64 billion compared
2024 yang mencapai Rp165,72 miliar. Hal ini terutama to the end of December 2024 of IDR165.72 billion. This
dipengaruhi oleh penambahan jumlah karyawan yang increase was mainly influenced by the increase in the
dihitung imbalan pasca kerjanya di tahun 2025. number of employees whose post-employment benefits
were recognized in 2025. 295
Page 26
04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Liabilitas Lainnya Other Liabilities
Pada akhir 2025, Liabilitas Lainnya tercatat sebesar As of the end of 2025, Other Liabilities amounted to
Rp219,66 miliar, mengalami kenaikan sebesar Rp25,37 IDR219.66 billion, increasing by IDR25.37 billion or 13.06%
miliar atau 13,06% bila dibandingkan tahun sebelumnya compared to the previous year of IDR194.29 billion. This
yang sebesar Rp194,29 miliar. Kenaikan ini disebabkan increase was due to the receipt of grant funds that must
oleh penerimaan dana hibah yang diterima dan harus be disbursed in accordance with donor requirements as
disalurkan sesuai ketentuan lembaga donor dan well as the recognition of lease liabilities in 2025.
pengakuan liabilitas aset guna usaha pada tahun 2025.
Dana Syirkah Temporer Temporary Syirkah Funds
PT SMI mencatatkan Dana Syirkah Temporer sebesar PT SMI recorded Temporary Syirkah Funds amounting
Rp2,64 triliun juta per 31 Desember 2025, naik 461,28% to IDR2.64 trillion as of December 31, 2025, increasing
atau Rp2,17 triliun bila dibandingkan akhir Desember by 461.28% or IDR2.17 trillion compared to the end of
2024 sebesar Rp469,66 miliar. Hal ini terutama December 2024 of IDR469.66 billion. This increase was
dipengaruhi oleh adanya penerbitan sukuk mudharabah, mainly driven by the issuance of mudharabah sukuk,
berupa Sukuk Mudharabah Sarana Multi Infrastruktur namely Sarana Multi Infrastruktur Self-Registration Sukuk
Berkelanjutan III Tahap II tahun 2025, senilai total Rp2,50 Mudharabah III Tranche II in 2025, with a total value of
triliun yang dihitung secara net dengan pembayaran IDR2.50 trillion, netted against the repayment of Sukuk
sukuk mudharabah seri B tahap I tahun 2022 yang jatuh Mudharabah Series B Tranche I 2022 amounting to IDR270
tempo pada 5 Agustus 2025 sebesar Rp270 miliar dan billion (matured on August 5, 2025) and Series A Tranche
seri A tahap I tahun 2024 yang jatuh tempo pada 15 Juli I 2024 amounting to IDR63,555 million (matured on July
2025 sebesar Rp63.555 juta. 15, 2025).
Aset-Aset dan Liabilitas Keuangan Berdasarkan Jangka Waktu Jatuh Tempo pada Tahun 2025
Financial Assets and Liabilities by Maturity in 2025
dalam juta Rupiah
in IDR million
Lebih dari Satu Lebih dari Tiga
Dalam Tahun Tetapi Tidak Tahun Tetapi Tidak
Lebih dari Lima
Uraian Satu Tahun Lebih dari Tiga Lebih dari Lima
Tahun
Jumlah
Description In Less than One Tahun Tahun Total
In Over Five Years
Year In One to Three In Three to Five
years Years
Aset Keuangan
Financial Assets
Kas dan Setara Kas-
Bersih
13.456.082 - - - 13.456.082
Cash and Cash
Equivalents – net
Dana Dibatasi
Penggunaannya 1.281.022 - - - 1.281.022
Restricted Funds
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Efek-Efek
9.708.610 962.929 135.277 1.692.700 12.499.516
Securities
Pinjaman Diberikan
dan Pembiayaan
Syariah-Bersih
12.677.314 19.676.217 15.110.670 40.156.645 87.620.847
Loans Receivables
and Sharia Financing
– net
Piutang atas
Penugasan Fasilitasi
Penyiapan Proyek
Receivables from 53.742 - - - 53.742
Assignment for
Facilitation on Project
Preparation
Pendapatan masih
harus Diterima 545.147 93.239 134.325 1.292.369 2.065.079
Accrued Income
Piutang Karyawan
Employee 131 265 168 - 564
Receivables
296
Page 27
Aset-Aset dan Liabilitas Keuangan Berdasarkan Jangka Waktu Jatuh Tempo pada Tahun 2025
Financial Assets and Liabilities by Maturity in 2025
dalam juta Rupiah
in IDR million
Lebih dari Satu Lebih dari Tiga
Dalam Tahun Tetapi Tidak Tahun Tetapi Tidak
Lebih dari Lima
Uraian Satu Tahun Lebih dari Tiga Lebih dari Lima
Tahun
Jumlah
Description In Less than One Tahun Tahun Total
In Over Five Years
Year In One to Three In Three to Five
years Years
Jumlah
37.722.049 20.732.650 15.380.441 43.141.713 116.976.853
Total
Liabilitas Keuangan
Financial Liabilities
Pinjaman Diterima
dari Bank dan
Lembaga Keuangan
Lainnya 14.976.049 5.012.945 5.012.945 - 25.001.940
Loan from Banks
and Other Financial
Institutions
Beban Akrual
563.939 - - - 563.939
Accrued Expenses
Surat Utang, Green
Bonds dan Sukuk
Mudharabah yang
Diterbitkan-Bersih
13.895.110 6.266.787 2.884.725 2.432.547 25.479.169
Debt securities, Green
Bonds and Sukuk
Mudharabah Issued
– Net
Pinjaman Diterima
dari Pemerintah
Republik Indonesia
6.175.551 5.091.817 4.503.603 7.400.374 23.171.345
Borrowings from
the Government of
Indonesia
Liabilitas Lain-Lain
219.659 - - - 219.659
Other Liabilities
Jumlah
35.830.308 16.371.549 12.401.273 9.832.921 74.436.050
Total
Jumlah Bersih
1.891.741 4.361.101 2.979.168 33.308.792 42.540.803
Total Net
Ekuitas Equity PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
dalam juta Rupiah
in IDR million
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
2025 2024
Description Selisih
%
Difference
Modal Saham Ditempatkan dan Disetor Penuh
30.516.600 30.516.600 0 0,00%
Subscribed and Paid-Up Capital
Penghasilan Komprehensif Lainnya
302.473 40.660 261.813 643,91%
Other Comprehensive Income
Saldo Laba
15.594.813 13.253.960 2.340.853 17,66%
Retained Earnings
Ditentukan Penggunaannya
5.018.121 4.348.122 670.000 15,41%
Appropriated
Belum Ditentukan Penggunaannya
10.576.692 8.905.839 1.670.853 18,76%
Unppropriated
Jumlah Ekuitas
46.413.886 43.811.220 2.602.666 5,94%
Total Equity
297
Page 28
04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Pada 31 Desember 2025, ekuitas Perseroan tercatat As of December 31, 2025, the Company’s equity amounted
sebesar Rp46,42 triliun, meningkat Rp2,60 triliun atau to IDR46.42 trillion, increasing by IDR2.60 trillion or 5.94%
5,94% dibandingkan posisi tahun sebelumnya sebesar compared to the previous year’s position of IDR43.81 trillion.
Rp43,81 triliun. Hal ini terutama didorong oleh peningkatan This increase was primarily driven by higher appropriated
terutama pada saldo laba ditentukan penggunaanya retained earnings arising from the allocation of 2024
yang berasal dari pembagian laba bersih tahun 2024 net income, as well as an increase in unappropriated
serta peningkatan pada saldo laba belum ditentukan retained earnings resulting from higher net income for
penggunaannya yang berasal dari peningkatan laba the current year.
bersih tahun berjalan.
Jumlah Ekuitas Tahun 2021-2025 (Rp miliar)
Total Equity for 2021-2025 (IDR billion)
38.900 40.548 42.621 43.811 46.414
2021 2022 2023 2024 2025
LAPORAN LABA (RUGI) DAN STATEMENT OF PROFIT OR LOSS AND
PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME
dalam juta Rupiah
in IDR million
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
2025 2024
Description Selisih
%
Difference
Pendapatan Usaha
8.910.796 7.980.284 930.512 11,66%
Revenues
Beban Usaha
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
(5.427.961) (5.282.496) 145.465 2,75%
Operating Expense
Beban Pajak Final
(181.935) (160.561) (21.373) 13,31%
Final Tax Expense
Laba Usaha
3.300.900 2.537.227 763.673 30,10%
Operating Profit
Pendapatan (Beban) Lain-Lain
Other Income (Expense)
Laba (Rugi) Selisih Kurs
20.415 33.493 (13.077) -39,05%
Gain (loss) on Foreign Exchange
Pendapatan Lain-Lain
73.300 55.275 18.026 32,61%
Other Income
Beban Lain-Lain
(18.817) (21.837) 3.020 -13,83%
Other Expenses
Pendapatan (Beban) Lain-Lain - Bersih
74.898 66.930 7.968 11,90%
Other Income (Expense) - Net
Laba Sebelum Pajak
3.375.798 2.604.157 771.641 29,63%
Profit Before Tax
298
Page 29
dalam juta Rupiah
in IDR million
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
2025 2024
Description Selisih
%
Difference
Beban Pajak
(474.774) (374.011) 100.763 26,94%
Tax Expense
Laba Bersih Periode Berjalan
2.901.024 2.230.146 670.877 30,08%
Net Income for the Year
Jumlah (beban) Penghasilan
Komprehensif Lain Tahun Berjalan,
setelah pajak 259.642 (160.392) 420.034 161,88%
Total Other Comprehensive
(Expense) Income for the Year, net of tax
Jumlah Laba Komprehensif
3.160.666 2.069.754 1.090.912 52,71%
Total Comprehensive Income
Laba Per Saham (dalam Rupiah penuh)
95.064 73.080 21.984 30,08%
Basic Earnings per Share (in full IDR)
Pendapatan Usaha Revenues
dalam juta Rupiah
in IDR million
2025 2024
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
Komposisi Komposisi
Description Jumlah Composition
Jumlah
Composition
Total Total Selisih
(%) (%) %
Difference
Pendapatan
Pembiayaan 6.581.435 75,40% 6.614.525 84,59% (33.090) -0,50%
Financing Income
Pendapatan Jasa
Konsultasi 28.843 0,33% 24.890 0,32% 3.953 15,88%
Advisory Income
Pendapatan
Penugasan
158.056 1,81% 146.044 1,87% 12.013 8,23%
Revenue from
Assignment
Pendapatan
Pengelolaan
Dana
1.298.815 14,88% 1.216.655 15,56% 82.160 6,75%
Fund
Management
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Income
Pendapatan
Investasi
661.712 7,58% (182.391) -2,33% 844.103 362,80%
Investment
Income
Jumlah
8.728.861*) 100,00% 7.819.723 100,0% 909.139 11,63%
Total
*)Nett Pajak Final
*)Net Final Tax
PT SMI membukukan Pendapatan Usaha sebesar Rp8,73 PT SMI recorded Revenue of IDR8.73 trillion, representing
triliun, mengalami kenaikan sebesar Rp909,14 miliar an increase of IDR909.14 billion or 11.63% compared to the
atau 11,63% bila dibandingkan tahun sebelumnya yang previous year of IDR7.82 trillion. This increase was mainly
sebesar Rp7,82 triliun. Kenaikan pendapatan ini terutama driven by higher equity investment income resulting
disebabkan oleh kenaikan pendapatan investasi saham from the Company’s divestment of its shareholding in
(PBE) yang dihasilkan dari penjualan penyertaan saham PT CCT, as well as an increase in income from investees
Perseroan pada PT CCT dan kenaikan laba diserap recognized under the equity method, which increased
investee yang dicatat dengan metode ekuitas yang by IDR844.103 million or 462.80%.
meningkat Rp844.103 juta atau 462,80%. 299
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Beban Usaha Operating Expenses
dalam juta Rupiah
in IDR million
2025 2024
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
Komposisi Komposisi
Description Jumlah Composition
Jumlah
Composition
Total Total Selisih
(%) (%) %
Difference
Beban Pembiayaan
4.365.638 80,43% 4.299.072 81,38% 66.566 1,55%
Financing Expenses
Beban Tenaga Kerja
572.878 10,55% 523.246 9,91% 49.632 9,49%
Personnel Expenses
Beban
Pengembangan
Usaha 278.987 5,14% 279.622 5,29% -635 -0,23%
Business Development
Expenses
Beban Umum dan
Administrasi
General and 174.471 3,21% 151.553 2,87% 22.918 15,12%
Administrative
Expenses
Beban Usaha Lainnya
Other Operating 35.987 0,66% 29.003 0,55% 6.984 24,08%
Expenses
Jumlah
5.427.961 100,00% 5.282.496 100,00% 145.465 2,75%
Total
Perseroan mencatatkan Beban Usaha pada tahun 2025 The Company recorded Operating Expenses in 2025
sebesar Rp5,43 triliun, mengalami kenaikan 2,75% atau amounting to IDR5.43 trillion, an increase of 2.75%
senilai Rp145,47 miliar bila dibandingkan dengan tahun or IDR145.47 billion compared to IDR5.28 trillion in
2024 yang tercatat sebesar Rp5,28 triliun. Hal ini terutama 2024. This was mainly due to an increase in financing
disebabkan oleh peningkatan beban pembiayaan expenses as a result of higher issuances of bonds and
sebagai dampak dari peningkatan penerbitan obligasi sukuk mudharabah in 2025, as well as an increase in
dan sukuk mudharabah di tahun 2025 serta peningkatan personnel expenses due to a higher number of employees
beban tenaga kerja karena peningkatan jumlah karyawan compared to 2024.
bila dibandingkan dengan tahun 2024.
Pendapatan (Beban) Lain-Lain Other Income (Expenses)
dalam juta Rupiah
in IDR million
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
2025 2024
Description
Selisih %
Laba Selisih Kurs
20.415 33.493 (13.078) -39,05%
Gain on Foreign Exchange
Pendapatan lain-lain
73.300 55.274 18.026 32,61%
Other Income
Beban Lain-lain
(18.817) (21.837) 3.020 13,83%
Other Expenses
Pendapatan Lain-lain-bersih
74.898 66.930 7.968 11,90%
Other Income-Net
Sepanjang tahun 2025, PT SMI mencatatkan Pendapatan Throughout 2025, PT SMI recorded Other Income
Lain-Lain senilai Rp74,90 miliar naik sebesar Rp7,97 amounting to IDR74.90 billion, an increase of IDR7.97 billion
miliar atau 11,90% bila dibandingkan tahun sebelumnya or 11.90% compared to IDR66.93 billion in the previous year.
yang mencapai Rp66,93 miliar. Kenaikan ini terjadi This increase was due to the recognition of grant income
karena pengakuan pendapatan hibah sesuai dengan in accordance with the requirements set by the grantor.
persyaratan yang ditentukan oleh pemberi hibah.
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Laba Sebelum Pajak Penghasilan Profit Before Income Tax
Perseroan mencatatkan Laba Sebelum Pajak Penghasilan The Company recorded Profit Before Income Tax
senilai Rp3,38 triliun pada tahun 2025, naik 29,63% atau amounting to IDR3.38 trillion in 2025 increasing by 29.63%
senilai Rp771,64 miliar bila dibandingkan tahun 2024 yang or IDR771.64 billion compared to year 2024 of IDR2.60
mencapai Rp2,60 triliun. Hal ini terutama disebabkan trillion. This increase was mainly driven by gains from
oleh laba penjualan investasi saham Perusahaan pada the sale of the Company’s equity investment in PT CCT
PT CCT sebesar Rp611.111 juta yang terjadi pada tanggal amounting to IDR611.111 million on November 28, 2025,
28 November 2025 dan peningkatan bagi hasil yang as well as higher profit-sharing income from Sharia
berasal dari pembiayaan syariah. financing.
Jumlah Laba Bersih Tahun Berjalan PT SMI pada tahun Net Income for the Year PT SMI’s Net Income for the Year
2025 tercatat sebesar Rp2,90 triliun, mengalami kenaikan in 2025 amounted to IDR2.90 trillion, increasing by 30.08%
30,08% atau senilai Rp670,88 miliar bila dibandingkan or IDR670.88 billion compared to the previous year of
dengan tahun sebelumnya yang tercatat sebesar Rp2,23 IDR670.88 billion. This increase was mainly driven by
triliun. Hal ini terutama disebabkan oleh peningkatan higher operating profit, where the increase in operating
pada laba usaha perusahaan, dimana peningkatan income amounted to IDR909.14 billion compared to an
pendapatan usaha mencapai Rp909,14 miliar increase in operating expenses of IDR145.47 billion.
dibandingkan kenaikan pada beban usaha sebesar
Rp145,47 miliar.
Pendapatan Komprehensif Lainnya Other Comprehensive Income
Sepanjang tahun 2025, Perseroan mencatatkan Throughout 2025, the Company recorded Other
Pendapatan Komprehensif Lainnya senilai Rp259,64 Comprehensive Income amounting to IDR259.64 billion,
miliar, naik sebesar Rp420,03 miliar atau 161,88% increasing by IDR420.03 billion or 161.88% compared
bila dibandingkan Beban Komprehensif Lain tahun to Other Comprehensive Loss in the previous year of
sebelumnya yang mencapai Rp160,39 miliar. Kenaikan IDR160.39 billion. This increase was due to the rise in the fair
ini terjadi disebabkan oleh peningkatan fair value atas value of securities classified as FVOCI, driven by improved
efek dengan klasifikasi FVOCI, adapun peningkatan fair market conditions compared to the previous year.
value dikarenakan oleh kondisi pasar yang lebih baik bila
dibandingkan dengan tahun sebelumnya.
Laba Komprehensif Comprehensive Income
Pada tahun 2025, PT SMI membukukan Laba Komprehensif In 2025, PT SMI recorded Comprehensive Income of IDR3.16
sebesar Rp3,16 triliun mengalami kenaikan sebesar Rp1,09 trillion, increasing by IDR1.09 trillion or 52.71% compared
triliun atau 52,71% bila dibandingkan tahun 2024 yang to 2024 of IDR2.07 trillion. This increase was mainly driven
tercatat sebesar Rp2,07 triliun. Peningkatan ini terutama by higher other comprehensive income during 2025,
disebabkan oleh peningkatan pada penghasilan supported by an increase in the fair value of investments
komprehensif lainnya selama tahun 2025 yang ditopang in securities classified as FVOCI.
oleh peningkatan nilai wajar dari investasi atas efek yang PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
diklasifikasikan FVOCI pada Perseroan.
Laba per Saham Dasar Basic Earnings per Share
Pada tahun 2025, Laba per Saham Dasar Perseroan In 2025, the Company’s Basic Earnings per Share
tercatat sebesar Rp95.064, meningkat 30,08% bila amounted to IDR95,064, increasing by 30.08% compared
dibandingkan dengan tahun 2024 yang tercatat sebesar to 2024 of IDR73,080. This is consistent with the increase
Rp73.080. Hal ini sejalan dengan peningkatan laba bersih in the Company’s net income, which reached IDR670,878
Perseroan yang mencapai Rp670.878 juta atau 30,08% million or a 30.08% increase compared to the 2024 net
bila dibandingkan dengan laba bersih tahun 2024. income.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
LAPORAN ARUS KAS STATEMENT OF CASH FLOWS
dalam juta Rupiah
in IDR million
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
2025 2024
Description Selisih
%
Difference
Arus Kas Digunakan untuk Aktivitas Operasi
(373.586) (4.431.312) 4.057.725 -91,57%
Cash Flows Used for Operating Activities
Arus Kas Diperoleh dari (Digunakan untuk) Aktivitas
Investasi 718.258 (2.627.830) 3.346.088 127,33%
Cash Flows From (Used In) Investing Activities
Arus Kas Diperoleh dari Aktivitas Pendanaan
2.152.732 5.007.303 (2.854.571) -57,01%
Cash Flows Used In Financing Activities
Kenaikan (Penurunan) Bersih Kas dan Setara Kas
Net Increase (Decrease) in Cash and Cash 2.497.403 (2.051.839) 4.549.243 221,72%
Equivalents
Kas dan Setara Kas pada Awal Periode
10.804.397 12.669.666 (1.865.269) -14,72%
Cash and Cash Equivalents at Beginning of Period
Dampak perubahan Kurs
154.731 186.571 (31.840) -17,07%
Impact of Exchange Rate Changes
CKPN Kas dan Setara Kas
Allowance for Impairment Losses of Cash and Cash (449) (272) (176) 64,79%
Equivalents
Kas dan Setara Kas pada Akhir Periode
13.456.082 10.804.125 2.651.957 24,55%
Cash and Cash Equivalents at End of the Period
Jumlah Kas dan Setara Kas PT SMI per 31 Desember 2025 As of December 31, 2025, PT SMI’s Cash and Cash
tercatat sebesar Rp13,46 triliun, meningkat 24,55% atau Equivalents amounted to IDR13.46 trillion, an increase of
setara dengan Rp2,65 triliun bila dibandingkan dengan 24.55% or IDR2.65 trillion compared to IDR10.80 trillion as
posisi per 31 Desember 2024 yang tercatat sebesar of December 31, 2024. This increase was mainly driven
Rp10,80 triliun. Kenaikan tersebut terutama dipengaruhi by higher cash flows from investing activities, which
oleh peningkatan arus kas diperoleh dari aktivitas increased by IDR3.35 trillion or 27.33% compared to the
investasi yang meningkat sebesar Rp3,35 triliun atau previous year, primarily resulting from the sale of PBE,
27,33% bila dibandingkan dengan tahun sebelumnya, namely PT CCT.
yang bersumber pada penjualan PBE, yaitu PT CCT.
Arus Kas Digunakan untuk Aktivitas Cash Flows Used for Operating Activities
Operasi
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
PT SMI mencatatkan Arus Kas Digunakan untuk Aktivitas PT SMI recorded Cash Flows Used for Operating Activities
Operasi sebesar Rp373,59 miliar di tahun 2025. Angka amounting to IDR373.59 billion in 2025. This represents
ini menunjukkan penurunan sebesar Rp4,06 triliun atau a decrease of IDR4.06 trillion or -91.57% compared to
-91,57% bila dibandingkan tahun sebelumnya yang the previous year of IDR4.43 trillion. This decrease was
tercatat sebesar Rp4,43 triliun. Penurunan ini terutama mainly driven by higher cash receipts from the repayment
disebabkan oleh peningkatan kas yang diterima yang of loans granted and sharia financing of IDR3.76 trillion
bersumber penerimaan dari pelunasan pinjaman compared to 2024.
diberikan dan pembiayaan syariah sebesar Rp3,76 triliun
bila dibandingkan dengan tahun 2024.
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Arus Kas Diperoleh dari (Digunakan untuk) Cash Flows Provided By (Used for) Investing
Aktivitas Investasi Activities
Pada tahun 2025, Perseroan mencatatkan Arus Kas In 2025, the Company recorded Cash Flows Provided
Diperoleh dari Aktivitas Investasi sebesar Rp718,26 miliar, By Investing Activities amounting to IDR718.26 billion,
jumlah tersebut mengalami kenaikan sebesar Rp3,35 representing an increase of IDR3.35 trillion or 27.33%
triliun atau 27,33% dari tahun sebelumnya dimana arus compared to the previous year, when cash flows used in
kas digunakan untuk aktivitas investasi tercatat sebesar investing activities amounted to IDR2.63 trillion. The main
Rp2,63 triliun. Penyebab utama peningkatan arus kas driver of this increase was the sale of PBE, namely PT CCT.
yang digunakan untuk aktivitas investasi ini adalah
karena penjualan PBE, yaitu PT CCT.
Arus Kas Diperoleh dari Cash Flows Provided By Financing Activities
Aktivitas Pendanaan
Perseroan mencatatkan Arus Kas Diperoleh dari Aktivitas The Company recorded Cash Flows Provided By Financing
Pendanaan senilai Rp2,15 triliun pada 31 Desember 2025, Activities amounting to IDR2.15 trillion as of December
yaitu mengalami penurunan 57,01% atau senilai Rp2,85 31, 2025, representing a decreased by 57.01%, or IDR2.85
triliun bila dibandingkan akhir Desember 2024 yang trillion compared to the end of December 2024 of IDR5.00
mencapai Rp5,00 triliun. Hal ini terutama dikarenakan trillion. This was mainly due to an increase in the principal
oleh peningkatan nilai pembayaran pokok pinjaman, loan payment amount, exceeding the amount received
melebihi nilai penerimaan dari pinjamannya. from the loan.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
303
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
KEMAMPUAN PERSEROAN DALAM
MENGHASILKAN LABA
THE COMPANY’S PROFITABILITY
Kinerja profitabilitas PT SMI tercermin melalui berbagai PT SMI’s profitability performance is reflected through
rasio keuangan yang digunakan sebagai indikator various financial ratios used as indicators of earnings
pencapaian laba, sebagaimana disajikan dalam achievement, as presented in the following:
lampiran berikut ini:
dalam persen (%)
in percentage (%)
Uraian
2025 2024 Selisih
Description
Imbal Balik atas Investasi
2,81 2,20 0,61
Return on Investment (ROI)
Imbal Balik atas Aset
2,39 1,86 0,01
Return on Asset (ROA)
Imbal Balik atas Ekuitas
6,67 5,57 1,52
Return on Equity (ROE)
Cost Efficiency Ratio (CER) 25,14 22,71 2,43
KEMAMPUAN MEMBAYAR UTANG
DAN KOLEKTIBILITAS PIUTANG
ABILITY TO REPAY DEBTS AND COLLECT RECEIVABLES
Perseroan melakukan penilaian atas kemampuan The Company assesses its ability to meet financial
memenuhi kewajiban keuangannya melalui pengukuran obligations through the measurement of liquidity and
rasio likuiditas dan rasio solvabilitas. Rasio likuiditas solvency ratios. Liquidity ratios are used to evaluate the
dimanfaatkan untuk menilai kapasitas Perseroan dalam Company’s capacity to settle short-term obligations using
menyelesaikan kewajiban jangka pendek dengan available current assets, thereby reflecting its resilience
aset lancar yang tersedia, sehingga mencerminkan in meeting daily cash requirements. Meanwhile, solvency
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
ketahanan dalam menghadapi kebutuhan kas harian. ratios provide an overview of the Company’s ability to
Sementara itu, rasio solvabilitas memberikan gambaran fulfil all its obligations, both short-term and long-term.
mengenai kemampuan Perseroan dalam memenuhi
seluruh kewajibannya, baik jangka pendek maupun
jangka panjang.
Melalui pemantauan kedua rasio tersebut secara Through consistent monitoring of these two ratios, the
konsisten, Perseroan dapat memastikan bahwa kondisi Company ensures that its financial condition remains
keuangannya berada dalam tingkat yang aman dan at a sound level and is able to support operational
mampu mendukung keberlanjutan operasional serta sustainability as well as long-term growth strategies.
strategi pertumbuhan jangka panjang.
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KEMAMPUAN MEMBAYAR UTANG ABILITY TO REPAY SHORT-
JANGKA PENDEK (LIKUIDITAS) TERM DEBTS (LIQUIDITY)
PT SMI menerapkan rasio lancar (current ratio) sebagai PT SMI applies the current ratio as the main indicator
indikator utama untuk menilai rasio likuiditas, yaitu to assess liquidity, by comparing total current assets
dengan membandingkan total aset lancar terhadap to current liabilities. Based on 2025 performance, the
liabilitas lancar. Berdasarkan kinerja tahun 2025, Rasio Company’s current ratio was recorded at 105.28%,
Lancar Perseroan tercatat sebesar 105,28%, menurun bila declining compared to the 2024 achievement of 119.25%.
dibandingkan capaian tahun 2024 yang tercatat sebesar This indicates that current assets remain above 1x (at
119,25%. Penilaian ini menunjukkan bahwa capaian Current 1.05x), demonstrating that the Company has the ability
assets masih berada di atas 1x (sebesar 1,05x) yang to meet its short-term obligations using its current
menunjukkan bahwa Perseroan memiliki kemampuan assets.
untuk membayar hutang jangka pendek dengan aset
lancar yang dimilikinya.
KEMAMPUAN MEMBAYAR UTANG ABILITY TO REPAY LONG-
JANGKA PANJANG (SOLVABILITAS) TERM DEBTS (SOLVENCY)
Perseroan menerapkan rasio solvabilitas sebagai alat The Company applies solvency ratios as a measure to
ukur untuk menilai kemampuan dalam memenuhi seluruh assess its ability to meet all obligations, including both
kewajiban, mencakup kewajiban jangka pendek maupun short-term and long-term liabilities. This measurement is
jangka panjang. Pengukuran ini dilakukan melalui dua conducted using two main indicators, namely the ratio of
indikator utama, yaitu rasio liabilitas terhadap jumlah liabilities to total assets or Debt to Asset Ratio (DAR), and
aset atau Debt to Asset Ratio (DAR), serta rasio liabilitas the ratio of liabilities to equity or Debt to Equity Ratio (DER).
terhadap ekuitas atau Debt to Equity Ratio (DER).
dalam persen (%)
in percentage (%)
Rasio Solvabilitas
2025 2024
Solvency Ratio
Rasio Liabilitas terhadap Aset (DAR)
61,74 63,51
Debt to Asset Ratio (DAR)
Rasio Liabilitas terhadap Ekuitas (DER)
161,40 174,06
Debt to Equity Ratio (DER)
Berdasarkan data per 31 Desember 2025, rasio Liabilitas Based on data as of December 31, 2025, the Company’s
terhadap aset (DAR) Perseroan tercatat sebesar 61,74%, Debt to Asset Ratio (DAR) was recorded at 61.74%,
yaitu mengalami penurunan bila dibandingkan dengan representing a decrease compared to 2024 at 63.51%.
tahun 2024 yang sebesar 63,51%. Sementara rasio liabilitas Meanwhile, the Debt to Equity Ratio (DER) was recorded
terhadap ekuitas (DER) tercatat sebesar 161,40%, turun at 161.40%, declining compared to 2024 at 174.06%. The
bila dibandingkan dengan tahun 2024 yang tercatat decrease in DAR indicates that the Company’s funding PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
sebesar 174,06%. Penurunan DAR menunjukkan bahwa structure has become healthier, as the proportion of
struktur pendanaan Perseroan menjadi lebih sehat debt financing relative to total assets has declined. The
karena proporsi pendanaan melalui utang terhadap decrease in DER reflects a reduced reliance on debt-
total aset semakin berkurang, adapun Penurunan rasio based financing and a strengthening of the Company’s
DER menunjukkan penurunan tingkat ketergantungan equity position. Accordingly, the decline in both solvency
Perseroan terhadap pendanaan berbasis utang serta ratios indicates an improvement in the Company’s ability
penguatan posisi ekuitas. Dengan demikian, penurunan to meet long-term obligations compared to 2024.
kedua rasio solvabilitas tersebut menunjukkan
peningkatan kemampuan Perseroan dalam memenuhi
kewajiban jangka panjang bila dibandingkan tahun 2024.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
KEMAMPUAN MEMBAYAR UTANG ABILITY TO REPAY DEBTS
DARI EFEK-EFEK YANG DITERBITKAN FROM SECURITIES ISSUED
Kemampuan Perseroan dalam memenuhi kewajiban The Company’s ability to meet its debt obligations is
utangnya juga tercermin melalui peringkat atas efek-efek also reflected in the ratings of the securities it issues
yang diterbitkan secara berkala. Peringkat ini diberikan periodically. These ratings are assigned by independent
oleh lembaga pemeringkat independen sebagai rating agencies as an assessment of the creditworthiness
bentuk penilaian atas kelayakan instrumen tersebut, of such instruments, reflecting the quality and reliability of
yang mencerminkan kualitas serta tingkat keandalan the issuer in fulfilling all its commitments. The assessment
emiten dalam memenuhi seluruh komitmennya. Penilaian takes into account the Company’s ability to repay
dilakukan dengan mempertimbangkan kemampuan principal at maturity, as well as the consistency of interest
perusahaan dalam membayar pokok efek saat jatuh or coupon payments throughout the life of the instrument.
tempo, serta konsistensi pembayaran bunga atau kupon
sepanjang masa berlakunya instrumen tersebut.
Sepanjang tahun 2025, Perseroan telah menerbitkan Throughout 2025, the Company issued a number of
sejumlah efek dan berhasil memperoleh peringkat securities and successfully obtained an AAA rating.
AAA. Pencapaian ini mengindikasikan bahwa Perseroan This achievement indicates that the Company has a
memiliki risiko gagal bayar yang sangat rendah dan very low default risk and is considered to have a very
dianggap memiliki kapasitas yang sangat kuat dalam strong capacity to meet all of its financial obligations.
memenuhi seluruh kewajiban finansialnya. Peringkat The rating also reflects the Company’s credibility and
tersebut juga mencerminkan kredibilitas dan stabilitas financial stability, which remain well maintained amid
keuangan Perseroan yang tetap terjaga di tengah industry dynamics.
dinamika industri.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
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TINGKAT KOLEKTIBILITAS PIUTANG RECEIVABLES COLLECTIBILITY LEVEL
Pengelolaan tingkat kolektibilitas piutang mencerminkan The management of receivables collectibility reflects
kapabilitas Perseroan dalam memastikan penghimpunan the Company’s capability to ensure optimal collection
piutang secara optimal. Upaya tersebut dilakukan melalui of receivables. These efforts are carried out through
penagihan tertulis maupun pertemuan dan negosiasi written collection actions as well as meetings and direct
langsung dengan debitur, pelaksanaan restrukturisasi negotiations with debtors, restructuring of non-performing
atas piutang bermasalah, serta pelaksanaan annual receivables, and the implementation of annual reviews,
review termasuk penelaahan kolektibilitas piutang. Selain including the assessment of receivables collectibility.
itu, Perseroan secara aktif mengupayakan pemenuhan In addition, the Company actively seeks to ensure the
komitmen pembayaran kewajiban debitur melalui fulfillment of debtor payment obligations through the
optimalisasi penjualan agunan atau aset debitur lainnya. optimization of collateral liquidation or other debtor
assets.
Dalam rangka menjaga kualitas piutang, Perseroan juga To maintain the quality of receivables, the Company also
menerapkan pemantauan yang intensif atas pemenuhan implements intensive monitoring of debtor compliance,
kewajiban debitur, baik kewajiban angsuran pokok dan including principal and interest installment payments
bunga maupun kepatuhan terhadap covenant yang telah as well as adherence to agreed covenants. Collection
disepakati. Penagihan dilakukan secara rutin setiap bulan efforts are carried out regularly on a monthly basis
melalui surat serta pertemuan dan negosiasi langsung, through written notices, as well as meetings and direct
disertai langkah restrukturisasi piutang bermasalah negotiations, supported by restructuring measures for
dan annual review kolektibilitas piutang. Upaya tersebut non-performing receivables and annual reviews of
diarahkan untuk memastikan keberlanjutan pembayaran collectibility. These efforts are aimed at ensuring the
kewajiban debitur, termasuk melalui realisasi agunan sustainability of debtor repayment obligations, including
atau aset debitur lainnya. Adapun uraian mengenai through the realization of collateral or other debtor assets.
kolektibilitas piutang disajikan sebagai berikut: The details of receivables collectibility are presented as
follows:
dalam juta Rupiah, kecuali dinyatakan lain
in IDR million, unless otherwise stated
Pertumbuhan/(Penurunan)
Uraian Increase/(Decrease)
2025 2024
Description
Selisih
%
Difference
Total Outstanding Kredit Performing*)
90.260.851 89.758.970 501.881 0,56%
Total Outstanding Performing Loans
Total Outstanding Kredit Non-Performing
795.914 812.500 (16.586) -2,04%
Total Outstanding Non-Performing Loans
Total Outstanding Kredit
91.056.765 90.571.470 485.295 0,54%
Total Outstanding Loans
NPL Gross (%) 0,87% 0,90% PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
NPL Net (%) 0,45% 0,41%
*) Outstanding kontraktual
*) Contractual outstanding
SMI mencatatkan rasio Non-Performing Loan (NPL)-net PT SMI recorded a net Non-Performing Loan (NPL) ratio
sebesar 0,45%. Hal ini menunjukkan NPL Perseroan sangat of 0.45%. This indicates that the Company’s NPL level is
rendah dan mencerminkan kualitas kredit yang sehat. very low and reflects sound credit quality.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
STRUKTUR MODAL DAN KEBIJAKAN
STRUKTUR MODAL
CAPITAL STRUCTURE AND THE POLICY ON CAPITAL STRUCTURE
KEBIJAKAN MANAJEMEN THE MANAGEMENT’S POLICY
ATAS STRUKTUR MODAL ON CAPITAL STRUCTURE
Pengelolaan modal Perseroan diarahkan untuk The primary objective of the Company’s capital
menjaga struktur permodalan yang solid sehingga management is to ensure the maintenance of a sound
mampu menopang keberlangsungan usaha sekaligus capital ratio to support its business and maximize
memberikan nilai terbaik bagi Pemegang Saham. Melalui returns for Shareholders. Through the Board of Directors,
kebijakan yang ditetapkan Direksi, Perseroan berupaya the Company has a policy to consistently maintain a
mempertahankan fondasi modal yang kokoh sebagai strong capital base as an effort to sustain stakeholder
landasan untuk memperkuat kepercayaan seluruh confidence over the long term. The Board of Directors
pemangku kepentingan dalam jangka panjang. regularly reviews the Company’s capital structure, taking
into consideration the cost of capital, associated risks,
and directions from shareholders.
Dalam praktiknya, Direksi secara berkala meninjau In practice, the Board of Directors periodically reviews the
komposisi dan strategi permodalan guna memastikan composition and capital strategy to ensure an optimal
keseimbangan yang optimal antara biaya modal, profil balance between the cost of capital, risk profile, and
risiko, serta arahan strategis dari Pemegang Saham. Hal strategic direction from Shareholders. This enables the
ini memungkinkan Perseroan mengelola pertumbuhan Company to manage growth sustainably, maintain
secara berkelanjutan, menjaga ketahanan keuangan, financial resilience, and support its ability to adapt to
dan mendukung kemampuan perusahaan untuk evolving industry dynamics and market conditions.
beradaptasi terhadap dinamika industri dan kondisi
pasar yang terus berkembang.
DASAR PEMILIHAN KEBIJAKAN BASIS FOR THE MANAGEMENT’S
MANAJEMEN STRUKTUR MODAL POLICY ON CAPITAL STRUCTURE
Perseroan menerapkan kebijakan pengelolaan struktur The Company implements its capital structure
permodalan dengan mengacu pada ketentuan management policy to protect its ability to comply with
perpajakan yang berlaku, khususnya Peraturan Menteri applicable tax regulations, namely Regulation of the
Keuangan No. 169/PMK.010/2015 yang menetapkan batas Minister of Finance No. 169/PMK.010/2015. According to
maksimum rasio Debt to Equity (DER) sebesar 4:1 untuk this regulation, the maximum Debt to Equity Ratio (DER)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
keperluan penghitungan pajak. Sepanjang tahun 2025, permitted for tax purposes is 4:1. In 2024, the DER owned
Perseroan mencatat DER sebesar 1,6x. by the Company is 1.6x.
Posisi ini mencerminkan struktur permodalan yang sehat This position reflects a sound and conservative capital
dan konservatif, sekaligus menunjukkan kemampuan structure, while also demonstrating the Company’s ability
Perseroan dalam mengelola utang secara prudent tanpa to manage debt prudently without exerting excessive
menimbulkan tekanan berlebih terhadap modal sendiri. pressure on its equity. With ratios remaining within a safe
Dengan rasio yang tetap berada dalam kisaran aman, range, the Company has sufficient headroom to support
Perseroan memiliki ruang yang cukup untuk mendukung measured business expansion and maintain financial
ekspansi usaha secara terukur serta menjaga fleksibilitas flexibility amid evolving industry and regulatory dynamics.
keuangan di tengah dinamika industri dan regulasi.
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RINCIAN STRUKTUR MODAL DETAILS OF CAPITAL STRUCTURE
dalam juta Rupiah, kecuali dinyatakan lain
in IDR million, unless otherwise stated
Pertumbuhan/ (Penurunan)
2025 2024
Increase/(Decrease)
Uraian
Description Komposisi Komposisi
Jumlah Jumlah
Composition
Selisih
%
Composition
Total Total Difference
(%) (%)
Liabilitas
Berbunga
Interest 73.652.453 63,40% 75.024.656 65,24% (1.372.203) -1,83%
Bearing
Liabilities
Ekuitas
46.413.886 39,95% 43.811.220 38,10% 2.602.666 5,94%
Equity
Investasi
(3.894.733) -3,35% (3.844.255) -3,34% (50.478) 1,31%
Investment
Total 116.171.606 100,00% 114.991.622 100,00% 1.179.985 1,03%
Debt to Equity
161,40% 174,06% -13,20%
Ratio (DER)
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
309
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
IKATAN MATERIAL UNTUK
INVESTASI BARANG MODAL
MATERIAL COMMITMENTS FOR CAPITAL EXPENDITURE
Peningkatan kapasitas dan keberlanjutan operasional The enhancement of the Company’s capacity and
Perseroan memerlukan investasi barang modal yang operational sustainability requires capital expenditure
dirancang untuk memperkuat fondasi bisnis serta investments designed to strengthen its business
mendukung pertumbuhan jangka panjang. Sepanjang foundation and support long-term growth. Throughout
tahun 2025, PT SMI menandatangani sejumlah ikatan 2025, PT SMI entered into several material commitments
material terkait investasi barang modal dengan tujuan related to capital expenditure investments aimed at
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
menciptakan nilai tambah yang berkontribusi terhadap creating added value that contributes to improved
peningkatan produktivitas, efisiensi, dan daya saing productivity, efficiency, and competitiveness of the
Perseroan pada periode mendatang. Company in the future.
Ruang lingkup investasi meliputi pembelian aset tetap The scope of investment includes the acquisition of new
baru maupun peningkatan nilai atas aset yang telah property and equipment as well as value improvement of
dimiliki, termasuk peralatan fisik, infrastruktur teknologi existing assets, including physical equipment, information
informasi, kendaraan operasional, serta perangkat lunak technology infrastructure, operational vehicles, and
penunjang kegiatan usaha. Setiap keputusan investasi software supporting business activities. Each investment
dilakukan melalui proses evaluasi yang komprehensif decision is undertaken through a comprehensive
dengan mempertimbangkan aspek kebutuhan evaluation process, taking into account operational
operasional, proyeksi pertumbuhan usaha, tingkat needs, business growth projections, return on investment,
pengembalian investasi (return on investment), serta and alignment with the Company’s long-term strategic
keselarasan dengan rencana strategis jangka panjang plan.
Perseroan.
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1. Tujuan Ikatan 1. Purpose of Commitments
Ikatan material atas investasi barang modal Material commitments for capital expenditure
diarahkan untuk: investments are intended to:
• Memperkuat kapasitas dan kapabilitas • Strengthen operational capacity and capability
operasional melalui pengadaan aset tetap yang through the acquisition of more modern and
lebih modern dan efisien. efficient assets;
• Meningkatkan produktivitas serta kualitas layanan • Improve productivity and service quality to
kepada pemangku kepentingan. stakeholders;
• Melakukan pembaruan ( replacement ) dan • Undertake replacement and upgrading of existing
peningkatan (upgrade) atas peralatan dan sistem equipment and systems to ensure optimal
yang telah ada guna memastikan kelangsungan operational continuity;
operasional yang optimal.
• Mendukung transformasi digital melalui • Support digital transformation through the
penerapan teknologi terkini yang meningkatkan implementation of advanced technologies that
efektivitas proses bisnis. enhance business process effectiveness;
• Mengintegrasikan prinsip keberlanjutan dengan • Integrate sustainability principles by prioritizing
mengutamakan penggunaan teknologi dan the use of energy-efficient and environmentally
peralatan yang lebih hemat energi serta ramah friendly technologies and equipment.
lingkungan.
Melalui langkah tersebut, Perseroan membangun Through these initiatives, the Company builds a robust
fondasi operasional yang tangguh, adaptif terhadap operational foundation that is adaptive to industry
perkembangan industri, serta berorientasi pada developments and oriented toward long-term value
penciptaan nilai jangka panjang. creation.
2. Sumber Dana yang Diharapkan 2. Expected Source of Funds
Seluruh investasi barang modal yang direalisasikan All capital expenditure investments realized
sepanjang tahun 2025 dibiayai menggunakan throughout 2025 were financed using the Company’s
pendanaan internal Perseroan. internal funding.
Keputusan untuk menggunakan dana internal The decision to utilize internal funds reflects:
mencerminkan:
• Posisi likuiditas dan arus kas yang memadai; • Adequate liquidity position and cash flows;
• Komitmen Perseroan dalam menjaga struktur • The Company’s commitment to maintaining a
permodalan yang sehat; sound capital structure;
• Upaya meminimalkan beban keuangan serta • Efforts to minimize financial burden and external
risiko pembiayaan eksternal; dan financing risks; and
• Strategi pengelolaan keuangan yang prudent • A prudent financial management strategy to
guna memastikan fleksibilitas dalam mendukung ensure flexibility in supporting future business
ekspansi usaha di masa mendatang. expansion.
Dengan demikian, pelaksanaan investasi tetap Accordingly, the implementation of investments PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
terjaga dalam koridor tata kelola perusahaan yang remains within the framework of good corporate
baik dan prinsip kehati-hatian. governance and the principle of prudence.
3. Mata Uang yang Menjadi Denominasi 3. Currency of Denomination
Sebagian besar transaksi investasi barang modal The majority of capital expenditure investment
dilakukan dalam mata uang Rupiah (IDR), sejalan transactions are conducted in Indonesian Rupiah
dengan penggunaan vendor dan penyedia domestik (IDR), in line with the use of domestic vendors and
dalam pengadaan aset. providers for asset procurement.
Namun demikian, untuk kebutuhan tertentu yang However, for certain requirements involving
memerlukan teknologi, perangkat, atau lisensi dari technology, equipment, or licenses sourced from
luar negeri, transaksi dilakukan dalam mata uang abroad, transactions are conducted in foreign
asing seperti Dolar Amerika Serikat (USD) atau currencies such as United States Dollar (USD) or Euro
Euro (EUR), sesuai dengan ketentuan kontrak dan (EUR), in accordance with contractual terms and the
karakteristik produk yang dibeli. nature of the products procured.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Kombinasi denominasi tersebut memungkinkan This combination of denominations enables the
Perseroan memperoleh spesifikasi teknis terbaik Company to obtain optimal technical specifications
dengan tetap mempertimbangkan aspek efisiensi while maintaining cost efficiency.
biaya.
4. Langkah-langkah untuk Melindungi Risiko Mata 4. Measures for Foreign Exchange Risk Protection
Uang Asing
Meskipun eksposur terhadap mata uang asing relatif Although exposure to foreign currencies is relatively
terbatas, Perseroan tetap memperhatikan potensi limited, the Company remains attentive to potential
risiko fluktuasi nilai tukar yang dapat memengaruhi exchange rate fluctuation risks that may affect
biaya investasi. investment costs.
Untuk mengelola risiko tersebut, PT SMI menerapkan To manage such risks, PT SMI implements the following
langkah-langkah sebagai berikut: measures:
• Melakukan perencanaan pembelian secara • Planning purchases in a scheduled manner to
terjadwal guna memanfaatkan momentum nilai take advantage of more stable exchange rate
tukar yang lebih stabil; conditions;
• Menerapkan kebijakan lindung nilai (hedging) • Implementing hedging policies when necessary,
apabila diperlukan, melalui instrumen seperti through instruments such as forward contracts
kontrak forward dan/atau swap mata uang; and/or currency swaps;
• Melakukan pemantauan berkala terhadap • Conducting periodic monitoring of exchange rate
pergerakan nilai tukar sebagai bagian dari movements as part of financial risk management;
manajemen risiko keuangan;
• Mengutamakan negosiasi kontrak dengan skema • Prioritizing contract negotiations with payment
pembayaran yang meminimalkan eksposur kurs. schemes that minimize foreign exchange exposure.
Langkah-langkah tersebut bertujuan menjaga These measures aim to maintain predictability of
prediktabilitas biaya investasi serta memastikan investment costs and ensure that capital expenditure
realisasi belanja modal tetap terkendali sesuai realization remains controlled in accordance with the
dengan anggaran yang telah ditetapkan. established budget.
Berikut adalah ikatan material atas investasi barang The following are material commitments related
modal yang masih berlaku atau telah direalisasikan to capital expenditure investments that remain
per 31 Desember 2025: outstanding or have been realized as of December
31, 2025:
Tabel Ikatan Material untuk Investasi Barang Modal per 31 Desember 2025
Table of Material Commitment for Capital Expenditure as of December 31, 2025
Mata Uang Proteksi Risiko
Jenis Sumber
Nama Pihak Tujuan Ikatan
Dana
yang Menjadi Mata Uang
No ikatan Denominasi Asing Foreign
(Vendor) Pelaksana Purpose of
Source of
Type of Commitment Currency of Exchange Risk
Name of Implementing Vendor Fund
Commitment
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Denomination Protection
Peningkatan
kapasitas dan
keamanan
PT BERCA HARDAYAPERKASA Tidak diperlukan
Pembelian infrastruktur TI Dana
PT DEWAWEB (transaksi
Server Perseroan internal
PT DINAMIKA RAYA PRIMA domestik)
1. Server Enhancement of Internal IDR
PT MITRA INTEGRASI INFORMATIKA Not required
Purchase the Company’s Funding
PT SOFTWAREONE INDONESIA (domestic
IT infrastructure
transaction)
capacity and
security
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Tabel Ikatan Material untuk Investasi Barang Modal per 31 Desember 2025
Table of Material Commitment for Capital Expenditure as of December 31, 2025
Mata Uang Proteksi Risiko
Jenis Sumber
Nama Pihak Tujuan Ikatan
Dana
yang Menjadi Mata Uang
No ikatan Denominasi Asing Foreign
(Vendor) Pelaksana Purpose of
Source of
Type of Commitment Currency of Exchange Risk
Name of Implementing Vendor Fund
Commitment Denomination Protection
PT ASTRA GRAPHIA TBK
PT BINA MANDIRI
Mendukung
PT INFOTECH MEDIA NUSANTARA
operasional
PT JAVAS KARYA TUNGGA
Pembelian kantor dan
PT MANDIRI GATRA KENCANA Dana
Peralatan peningkatan
PT NARITA ARTHA MODA internal
Kantor efisiensi kerja Tidak diperlukan
2. PT NETAVIA STARTECH INDONESIA Internal IDR
Office Support for office Not required
PT NOVUS PRODAMAX SOLUTIONS Funding
Equipment operations and
PT PADIUMKM
Purchase improvement of
PT PRIMA TEKNO INTEGRA
work efficiency
PT REGON MAKMUR SEJAHTERA
PT RENTASH MANDIRI SEJAHTERA
PT VERVETAMA TECHNOLOGY
Penataan ulang
ruang kerja untuk
meningkatkan Dana
Pembelian
kenyamanan dan internal
Perabot PT NOVUS PRODAMAX SOLUTIONS Tidak diperlukan
3. produktivitas Internal IDR
Furniture PT PRIMA TEKNO INTEGRA Not required
Reconfiguration Funding
Purchase
of workspace to
enhance comfort
and productivity
Optimalisasi
tata ruang
dan efisiensi Dana
Pembelian
penggunaan internal
Partisi Tidak diperlukan
4. PT MITRA KREASI PROMOSINDO area kantor Internal IDR
Partition Not required
Optimization of Funding
Purchase
spatial layout
and efficient use
of office space
PT ADI DATA INFORMATIKA
PT ADIKARA TECHNO PERKASA
PT AZENTRA SOLUSI DIGITAL
PT BERCA HARDAYAPERKASA
PT BLOOMBERG FINANCE LP
PT BUMI AMARTHA TEKNOLOGI Implementasi
MANDIRI sistem digital
PT CAHAYA SEMESTA CURAHANHATI dan peningkatan Lindung nilai
PT CENTRIA INTEGRITY ADVISORY integrasi proses Dana melalui kontrak
Pembelian
PT DENTSU SOKEN INDONESIA bisnis internal forward
Software
5. PT DINAMIKA RAYA PRIMA Implementation Internal USD Hedging through
Software
FITCH SOLUTIONS GROUP LIMITED of digital Funding forward contracts
Purchase
PT GEONET INFOMEDIA systems and PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
PT INDOCYBER GLOBAL TEKNOLOGI enhancement of
PT INDODEV NIAGA INTERNET business process
PT INDONESIA DIGITAL IDENTITY integration
PT INSPIRO
PT JAVAS KARYA TUNGGA
PT JUSTIKA SIAR PUBLIKA
PT KRAYON KONSULTAN INDO
PT MASTERSYSTEM INFOTAMA
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Tabel Ikatan Material untuk Investasi Barang Modal per 31 Desember 2025
Table of Material Commitment for Capital Expenditure as of December 31, 2025
Mata Uang Proteksi Risiko
Jenis Sumber
Nama Pihak Tujuan Ikatan
Dana
yang Menjadi Mata Uang
No ikatan Denominasi Asing Foreign
(Vendor) Pelaksana Purpose of
Source of
Type of Commitment Currency of Exchange Risk
Name of Implementing Vendor Fund
Commitment Denomination Protection
PT METRODATA ELECTRONICS TBK
PT MITRA INTEGRASI INFORMATIKA
PT MORA TELEMATIKA INDONESIA TBK
PT MULTIPOLAR TECHNOLOGY
PT NAGITEC
PT NEXIA INDONESIA ADVISORY
SERVICES Implementasi
PT NUSA SISTEM SOLUSI sistem digital
PT PRASETIA DWIDHARMA TEKNOLOGI dan peningkatan Lindung nilai
PT PRIMA TEKNO INTEGRA integrasi proses melalui kontrak
Pembelian Dana
PT PRIVY IDENTITAS DIGITAL bisnis forward
Software internal
5. PT PRODATA SISTEM TEKNOLOGI Implementation USD Hedging through
Software Internal
PT PROTERGO SIBER SEKURITI of digital forward contracts
Purchase Funding
PT Q2 TECHNOLOGIES systems and
PT RUANG RAYA INDONESIA enhancement of
PT SHELL INFOTEK INDONESIA business process
PT SIGMA CIPTA CARAKA integration
PT SINERGI INFORMATIKA SEMEN
INDONESIA
PT SISINDOKOM LINTASBUANA
PT SYNERGI INNOVASI RAJAWALI
PT TEKNO GEMILANG INDONESIA
PT VESPERIA GLOBAL MERDEKA
Mendukung
mobilitas
operasional dan
Pembelian
kegiatan usaha Dana
Kendaraan
Perseroan internal
Roda Empat PT BUMI HIJAU MOTOR Tidak diperlukan
6. Support for Internal IDR
Purchase of PT PLAZA AUTO PRIMA Not required
operational Funding
Four-Wheeled
mobility and
Vehicles
the Company’s
business
activities
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
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REALISASI INVESTASI BARANG MODAL
REALIZATION OF CAPITAL EXPENDITURE
Pengembangan kegiatan usaha Perseroan memerlukan The development of the Company’s business activities
dukungan investasi yang tepat guna dalam rangka requires appropriate investment support to strengthen
memperkuat kapasitas operasional serta meningkatkan operational capacity and enhance long-term value.
nilai jangka panjang. Sepanjang tahun 2025, Perseroan Throughout 2025, the Company consistently realized
secara konsisten merealisasikan belanja barang modal capital expenditures (capex) focused on the acquisition
(capital expenditure/capex) yang difokuskan pada and addition of property and equipment as well as
pembelian maupun penambahan sejumlah aset tetap intangible assets expected to deliver strategic benefits
dan aset tak berwujud yang diproyeksikan memberikan in the future.
manfaat strategis di masa mendatang.
Investasi tersebut mencakup aset tetap berwujud seperti These investments include tangible assets such as
kendaraan operasional, peralatan kantor, partisi, dan operational vehicles, office equipment, partitions,
infrastruktur teknologi informasi, serta aset tak berwujud and information technology infrastructure, as well as
berupa perangkat lunak (software) yang mendukung intangible assets in the form of software supporting
transformasi digital Perseroan. Seluruh realisasi investasi the Company’s digital transformation. All investment
dilakukan dengan mempertimbangkan kebutuhan realizations were carried out by taking into account
operasional, proyeksi pertumbuhan usaha, efisiensi operational needs, business growth projections, cost
biaya, serta keselarasan dengan rencana strategis efficiency, and alignment with the long-term strategic
jangka panjang. plan.
Seluruh kebutuhan investasi barang modal pada tahun All capital expenditure requirements in 2025 were
2025 dipenuhi melalui pendanaan internal Perseroan. financed through the Company’s internal funding. This
Kebijakan ini mencerminkan komitmen manajemen policy reflects management’s commitment to applying
dalam menerapkan prinsip kehati-hatian (prudence), the principle of prudence, maintaining a sound capital
menjaga struktur permodalan yang sehat, serta structure, and ensuring financial sustainability to support
memastikan keberlanjutan keuangan dalam mendukung business expansion.
ekspansi usaha.
Adapun hingga akhir tahun 2025, Perseroan telah As of the end of 2025, the Company has realized capital
merealisasikan investasi barang modal sebesar Rp72.691 expenditure investments amounting to IDR72,691 million,
juta, dengan rincian sebagai berikut: with details as follows:
Jenis Investasi Tujuan Investasi Nilai Investasi (Rp juta)
Type of Investment Purpose of Investment Investment Value (IDR million)
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Mendukung mobilitas operasional dan aktivitas bisnis
Kendaraan Roda Empat Perseroan guna meningkatkan efektivitas layanan
5.478
Four-Wheeled Vehicles Support operational mobility and the Company’s business
activities to enhance service effectiveness
Optimalisasi tata ruang kantor untuk meningkatkan
Partisi efisiensi penggunaan ruang dan kenyamanan kerja
49
Partitions Optimization of office layout to improve space utilization
efficiency and work comfort
Pembaruan dan penambahan fasilitas kerja guna
Peralatan Kantor menunjang produktivitas karyawan
5.984
Office Equipment Upgrade and addition of work facilities to support
employee productivity
Peningkatan kapasitas penyimpanan data dan
keamanan sistem teknologi informasi
Server 5.853
Enhancement of data storage capacity and information
technology system security
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Jenis Investasi Tujuan Investasi Nilai Investasi (Rp juta)
Type of Investment Purpose of Investment Investment Value (IDR million)
Implementasi dan pengembangan sistem digital untuk
meningkatkan integrasi dan efisiensi proses bisnis
Software 55.147
Implementation and development of digital systems to
improve integration and efficiency of business processes
Penataan dan peningkatan kualitas fasilitas kerja guna
Perabot mendukung lingkungan kerja yang representatif
180
Furniture Arrangement and improvement of work facilities to
support a representative working environment
DAMPAK DAN MANFAAT INVESTASI DAMPAK DAN MANFAAT INVESTASI
Realisasi investasi barang modal tersebut memberikan The realization of these capital expenditures provides
sejumlah manfaat strategis bagi Perseroan, antara lain: several strategic benefits to the Company, including:
• Meningkatkan keandalan dan kapasitas infrastruktur • Enhancing the reliability and capacity of operational
operasional; infrastructure;
• Mendukung digitalisasi proses bisnis dan penguatan • Supporting the digitalization of business processes
tata kelola data; and strengthening data governance;
• Meningkatkan produktivitas dan efektivitas kerja; • Improving productivity and work effectiveness;
• Memperkuat kualitas layanan kepada pelanggan • Strengthening service quality to customers and
dan pemangku kepentingan; serta stakeholders; and
• Membangun fondasi operasional yang lebih efisien, • Building a more efficient, modern, and sustainable
modern, dan berkelanjutan. operational foundation.
Secara keseluruhan, realisasi belanja modal tahun Overall, the realization of capital expenditures in 2025 has
2025 telah berjalan sesuai dengan rencana kerja been in line with the Company’s work plan and budget,
dan anggaran Perseroan, serta diharapkan dapat and is expected to contribute positively to financial and
memberikan kontribusi positif terhadap kinerja keuangan operational performance in the coming periods.
dan operasional pada periode-periode berikutnya.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
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PERBANDINGAN ANTARA TARGET
DAN REALISASI TAHUN 2025
COMPARISON OF TARGET VS. REALIZATION IN 2025
Dalam menetapkan arah strategis tahun 2025, Perseroan In setting its strategic direction for 2025, the Company
merumuskan sejumlah target kinerja yang didasarkan formulated a number of performance targets based
pada berbagai asumsi fundamental, baik yang on various fundamental assumptions, both internal
bersumber dari kondisi internal maupun eksternal. Asumsi and external. These assumptions include industry
tersebut mencakup perkembangan industri, dinamika developments, macroeconomic dynamics, and other
ekonomi makro, serta faktor-faktor lain yang dinilai factors considered to have an impact on business
berpengaruh terhadap kegiatan usaha. Seluruh rencana activities. All such plans and targets are set out in the
dan sasaran tersebut dituangkan dalam Rencana Kerja Company’s Work Plan and Budget (RKAP) as a guideline
dan Anggaran Perusahaan (RKAP) sebagai pedoman for business execution throughout the year.
eksekusi bisnis selama tahun berjalan.
Penyusunan RKAP dilandasi pendekatan yang The preparation of the Company’s Work Plan and Budget
komprehensif, termasuk mempertimbangkan mandat is based on a comprehensive approach, including
PT SMI sebagai Special Mission Vehicle (SMV) bagi consideration of PT SMI’s mandate as a Special Mission
Pemerintah dan Kementerian Keuangan selaku Pemegang Vehicle (SMV) for the Government and the Ministry of
Saham. Dengan demikian, setiap target tidak hanya Finance as the Shareholder. Accordingly, each target
mencerminkan tujuan komersial, tetapi juga mendukung reflects not only commercial objectives but also the
kontribusi Perseroan terhadap pembangunan nasional Company’s contribution to national development and
dan agenda strategis pemerintah. the Government’s strategic agenda.
Perbandingan antara target yang telah ditetapkan A comparison between the established targets and the
dan realisasi kinerja sepanjang tahun buku 2025 dapat realized performance for the 2025 fiscal year is presented
dilihat pada tabel berikut, yang memberikan gambaran in the following table, providing an overview of the level
mengenai tingkat pencapaian serta efektivitas strategi of achievement and the effectiveness of the strategies
yang dijalankan PT SMI. implemented by PT SMI.
dalam juta Rupiah, kecuali dinyatakan lain
in IDR million, unless otherwise stated
Uraian Realisasi 2025 Target 2025 Pencapaian
Description 2025 Realization 2025 Target Achievement
(1) (2) (3) (4=2/3)^100%
Pendapatan Usaha*)
8.728.861 7.799.001 111,92%
Revenue
Laba Bersih
2.901.024 2.119.653 136,86%
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Net Income
Laba Komprehensif
3.160.666 2.119.653 149,11%
Comprehensive Income
Return on Equity (ROE) 6,67% 4,65% 143,33%
Cost Efficiency Ratio (CER) 25,14% 30,85% 81,48%
*) Nett Pajak Final
*) Net Final Tax
Pendapatan usaha yang dicatatkan PT SMI di tahun PT SMI recorded operating revenue of IDR8.73 trillion in
2025 sebesar Rp8,73 triliun atau 111,92% dari target yang 2025, or 111.92% of the target set in the Company’s 2025
telah ditetapkan dalam RKAP 2025, yaitu Rp7,80 triliun. Work Plan and Budget of IDR7.80 trillion. This achievement
Pencapaian ini didorong oleh laba dari pelepasan atas was driven primarily by gains from the divestment of its
seluruh kepemilikan saham pada PT Cimanggis Cibitung entire shareholding in PT Cimanggis Cibitung Toll (CCT),
Toll (CCT) sebesar Rp611 miliar. amounting to IDR611 billion.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Kemudian, Perseroan berhasil mencatatkan laba bersih Furthermore, the Company posted a net profit of IDR2.90
2025 sebesar Rp2,90 triliun, atau setara dengan 136,86% trillion in 2025, equivalent to 135.90% of the Company’s
dari target RKAP 2025 yang sebesar Rp2,12 triliun. Hal ini 2025 Work Plan and Budget target of IDR2.23 trillion. This
terutama dipengaruhi oleh peningkatan pendapatan performance was mainly supported by the increase in
usaha yang mencapai 111,92% dari target 2025. operating revenue, which reached 111.92% of the 2025
target.
PERBANDINGAN TARGET DAN COMPARISON OF TARGET VS.
REALISASI STRUKTUR MODAL REALIZATION ON CAPITAL STRUCTURE
dalam juta Rupiah, kecuali dinyatakan lain
in IDR million, unless otherwise stated
Uraian Realisasi 2025 Target 2025 Pencapaian
Description 2025 Realization 2025 Target Achievement
(1) (2) (3) (4=2/3)^100%
Aset
121.325.658 130.054.822 93,29%
Assets
Liabilitas dan Dana Syirkah Temporer
74.911.772 82.366.528 90,95%
Liabilities and Temporary Syirkah Funds
Ekuitas
46.413.886 47.688.294 97,33%
Equity
PT SMI membukukan total aset di tahun 2025 sebesar PT SMI recorded total assets of IDR121.33 trillion in 2025,
Rp121,33 triliun atau mencapai 93,29% dari target RKAP reaching 93.29% of the target set in the Company’s
2025 sebesar Rp130,05 triliun. Capaian ini disumbang 2025 Work Plan and Budget of IDR130.05 trillion. This
oleh realisasi atas pinjaman diberikan yang berada achievement was mainly driven by the realization of loans
dibawah RKAP 2025 karena adanya pelunasan dipercepat disbursed being below target due to early repayments by
dari beberapa debitur, serta adanya rencana konversi several debtors, as well as the planned conversion of a
mandatory convertible loan (MCL) yang dicatat sebagai mandatory convertible loan (MCL)—previously recorded
uang muka investasi menjadi tambahan penyertaan as an investment advance—into additional equity
saham Perseroan pada PT CCT pada RKAP yang tidak participation in PT Cimanggis Cibitung Toll (CCT), which
terlaksana dikarenakan telah dilakukan divestasi pada was not realized following the divestment in November
bulan November 2025. 2025.
Di sisi lain, liabilitas dan dana syirkah temporer Perseroan On the liabilities side, the Company’s liabilities and
tercatat sebesar Rp74,91 triliun di tahun 2025 atau temporary syirkah funds amounted to IDR74.91 trillion in
sebesar 90,95% dari target RKAP 2025 yang ditetapkan 2025, or 90.95% of the target set in the Company’s 2025
sebesar Rp82,37 triliun. Hal ini sesuai dengan realisasi Work Plan and Budget of IDR82.37 trillion. This aligns with
Penghimpunan Pendanaan (Interest Bearing Liability the realization of funding (Interest Bearing Liabilities/
–IBL) yang relatif juga di bawah target RKAP 2025 IBL), which was also below target in line with financing
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
menyesuaikan dengan kebutuhan kegiatan Pembiayaan. requirements.
Sementara ekuitas Perseroan tahun 2025 tercatat Meanwhile, the Company’s equity in 2025 was recorded at
sebesar Rp46,41 triliun, atau 97,33% dari target RKAP 2025 IDR46.41 trillion, or 97.33% of the target set in the Company’s
senilai Rp47,69 triliun. Hal ini terutama terjadi karena 2025 Work Plan and Budget of IDR47.69 trillion. This was
realisasi penambahan ekuitas melalui PMN sebagaimana primarily due to the planned equity injection through State
direncanakan dalam RKAP tidak terlaksana. Equity Participation (PMN), as outlined in the Company’s
2025 Work Plan and Budget, not being realized.
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Perbandingan dan Realisasi Hal Lain yang Comparison and Realization of Other
Dianggap Penting Perusahaan Matters Considered Important by the
Company
dalam juta Rupiah, kecuali dinyatakan lain
in IDR million, unless otherwise stated
RKAP 2025 %RKAP 2025
Des-2025 (Rp miliar) The Company’s % of the Company’s
Summary Dec-2025 (IDR billion) 2025 Work Plan and 2025 Work Plan and
Budget Budget
Neraca
Balance Sheet
Total Aset
121.326 130.055 93,29%
Total Assets
OS Pembiayaan dan Investasi
94.880 100.894 94,04%
OS Financing and Investment
Pendanaan (IBL)
73.652 80.590 91,39%
Funding
Total Ekuitas
46.414 47.688 97,33%
Total Equity
Laba Rugi
Profit Loss
Pendapatan Bunga
5.565 5.836 95,37%
Interest Income
Beban Bunga
3.839 3.743 102,54%
Interest Expenses
Net Interest Income 4.042 3.864 104,59%
Fee Income (Jasa Konsultasi & Penugasan)
187 183 102,10%
Fee Income (Advisory Services & Assignment)
Laba Sebelum Pajak
3.376 2.488 135,71%
Profit Before Income Tax
Laba Bersih
2.901 2.120 136,86%
Net Income
Laba Komprehensif
3.148 2.120 148,49%
Comprehensive Income
Rasio Keuangan
Financial Ratio
ROA 2,39% 1,63% 146,71%
ROE 6,67% 4,65% 143,33%
CER 25,14% 30,85% 81,48%
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Posisi keuangan Perseroan hingga 31 Desember 2025 The Company’s financial position as of December 31, 2025,
menunjukkan capaian yang tetap terjaga di tengah demonstrates sustained performance amid business
dinamika bisnis, dengan Total Aset tercatat sebesar dynamics, with Total Assets recorded at IDR121.33 trillion,
Rp121,33 triliun atau mencapai 93,29% dari target RKAP or 93.29% of the 2025 Annual Business Plan (RKAP)
2025 sebesar Rp130,06 triliun. Pencapaian ini sejalan target of IDR130.06 trillion. This achievement aligns
dengan realisasi Outstanding (OS) Pembiayaan dan with the realization of Outstanding (OS) Financing and
Investasi yang mencapai Rp94,88 triliun atau 94,04% Investments, which reached IDR94.88 trillion or 94.04% of
dari target, serta didukung oleh posisi Pendanaan (IBL) the target, and is supported by a Funding (IBL) position
sebesar Rp73,65 triliun atau 91,39% dari rencana yang of IDR73.65 trillion or 91.39% of the established plan. On
ditetapkan. Di sisi lain, Total Ekuitas menunjukkan kinerja the other hand, Total Equity demonstrated relatively solid
yang relatif solid dengan realisasi sebesar Rp46.414 performance with a realization of IDR46.41 trillion, or 97.33%
miliar atau 97,33% dari target RKAP 2025, mencerminkan of the 2025 RKAP target, reflecting capital fundamentals
fundamental permodalan yang tetap terjaga. that have been maintained.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Dari sisi laba rugi, Perseroan mencatat Pendapatan In terms of profit and loss, the Company recorded Interest
Bunga sebesar Rp5,57 triliun atau 95,37% dari target, Income of IDR5.57 trillion, or 95.37% of the target, while
sementara Beban Bunga terealisasi sebesar Rp3,84 triliun Interest Expense amounted to IDR3.84 trillion, or 102.54%
atau 102,54% dari RKAP. Kondisi tersebut mendorong of the RKAP. These conditions drove Net Interest Income
perolehan Net Interest Income (NII) sebesar Rp4,04 triliun (NII) to IDR4.04 trillion, or 104.59% of the target, supported
atau 104,59% dari target, serta didukung oleh kontribusi by Fee Income contributions reaching IDR187 billion, or
Fee Income yang mencapai Rp187 miliar atau 102,10% 102.10% of the plan. Overall, The Company’s pre-tax profit
dari rencana. Secara keseluruhan, Laba Sebelum Pajak stood at Rp3.38 trillion, or 135.71% of the 2025 budget target.
Perseroan tercatat sebesar Rp3,38 triliun atau 135,71%
dari target RKAP 2025.
Kinerja profitabilitas Perseroan menunjukkan hasil yang The Company’s profitability performance showed very
sangat positif dengan pencapaian Laba Bersih sebesar positive results, with Net Income reaching IDR2.90 trillion,
Rp2,90 triliun atau 136,86% dari target RKAP 2025, serta or 136.86% of the 2025 RKAP target—and Comprehensive
Laba Komprehensif sebesar Rp3,15 triliun atau 148,49% Income at IDR3.15 trillion, or 149.11% of the target. This
dari target. Sejalan dengan hal tersebut, rasio keuangan was accompanied by significant improvements in key
utama juga menunjukkan peningkatan kinerja yang financial ratios, including a Return on Assets (ROA) of
signifikan, di antaranya ROA sebesar 2,39% dan ROE 2.39% and a Return on Equity (ROE) of 6.67%, both of which
sebesar 6,67% yang masing-masing melampaui target, exceeded their targets, as well as a Cost-to-Earnings Ratio
serta CER yang tercatat sebesar 25,14%, lebih efisien (CER) of 25.14%, which was more efficient than the planned
dibandingkan dengan rencana yang ditetapkan. Hal figure. This reflects the effectiveness of the Company’s
ini mencerminkan efektivitas strategi Perseroan dalam strategy in maintaining a balance between business
menjaga keseimbangan antara pertumbuhan bisnis growth and operational efficiency.
dan efisiensi operasional.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
320
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PROYEKSI SATU TAHUN KE DEPAN
ONE-YEAR PROJECTION
dalam juta Rupiah, kecuali dinyatakan lain
in IDR million, unless otherwise stated
Uraian Proyeksi 2026
Description 2026 Projection
Pendapatan Usaha
8.127.382
Revenue
Laba Bersih
2.360.217
Net Income
Laba Komprehensif
2.360.217
Comprehensive Income
Return on Equity (ROE) 5,23%
Cost Efficiency Ratio (CER) 29,92%
Kinerja keuangan Perseroan diproyeksikan tetap tumbuh The Company’s financial performance is projected to
dengan solid pada tahun 2026 ditopang oleh proyeksi remain solid in 2026, supported by a target operating
Pendapatan Usaha pada RKAP 2026 ditargetkan revenue in the Company’s 2026 Work Plan and Budget
mencapai Rp8,13 triliun, yang didukung target NII RKAP of IDR8.13 trillion. This is underpinned by a targeted Net
2026 sebesar Rp3,96 triliun, sehingga laba bersih Interest Income (NII) of IDR3.96 trillion,, resulting in a
diproyeksikan sebesar Rp2,36 triliun. Hal ini berdampak projected net profit of IDR2.36 trillion,. This performance
pada proyeksi ROE sebesar 5,23% dan CER sebesar 29,92% is expected to translate into a projected Return on Equity
yang mengindikasikan kinerja keuangan Perseroan yang (ROE) of 5.06% and a Cost-to-Expense Ratio (CER) of
sehat, berkelanjutan, dan efisiensi operasional yang 29.92%, indicating a healthy, sustainable financial position
terjaga. and well-maintained operational efficiency.
PROYEKSI STRUKTUR MODAL CAPITAL STRUCTURE PROJECTION
dalam juta Rupiah, kecuali dinyatakan lain
in IDR million, unless otherwise stated
Uraian Proyeksi 2026
Description 2026 Projection
Aset
128.518.502
Assets
Liabilitas dan Dana Syirkah Temporer
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
80.989.733
Liabilities and Temporary Syirkah Funds
Ekuitas
47.528.769
Equity
Aset Aset
Pada tahun 2026, Perseroan menargetkan pertumbuhan n 2026, the Company aims to grow its assets to IDR128.52
aset menjadi Rp128,52 triliun atau meningkat sebesar trillion, representing a 5.93% increase compared to
5,93% dibandingkan realisasi aset tahun 2025 sebesar the 2025 asset total of IDR121.33 trillion. This growth is
Rp121,33 triliun. Pencapaian tersebut ditopang oleh primarily supported by an increase in total outstanding
kenaikan total outstanding Pembiayaan & Investasi Financing & Investment, particularly from Loans and Equity
yang terutama berasal dari pos Pinjaman Diberikan dan Investments.
Penyertaan Modal.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Liabilitas dan Dana Syirkah Temporer Liabilities and Temporary Syirkah Funds
Total Liabilitas dan Dana Syirkah Temporer ditargetkan Total Liabilities and Temporary Syirkah Funds are projected
meningkat menjadi Rp80,99 triliun yang disebabkan to increase to IDR80.99 trillion, driven by higher Interest
oleh peningkatan pendanaan Interest Bearing Liabilities Bearing Liabilities (IBL). This increase takes into account
(IBL). Peningkatan tersebutmempertimbangkan proyeksi the projected downward trend in benchmark interest
suku bunga acuan yang berada dalam tren menurun, rates, enabling the Company to prioritize additional
sehingga Perseroan mengutamakan peningkatan funding to support its financing business at relatively
pendanaan untuk menunjang bisnis pembiayaan lower costs compared to previous periods.
Perseroan dengan pendanaan yang relatif lebih rendah
dibandingkan periode sebelumnya.
Ekuitas Equity
Nilai Ekuitas diproyeksikan meningkat menjadi Rp47,53 Equity is projected to increase to IDR47.53 trillion, mainly
triliun, yang terutama didorong kontribusi target laba driven by the contribution of net profit for the 2026 period,
periode berjalan tahun 2026 sebesar Rp2,36 triliun. projected at IDR2.36 trillion.
PROYEKSI KEBIJAKAN DIVIDEN DIVIDEND POLICY PROJECTION
Dengan mempertimbangkan kebutuhan pengelolaan Taking into account the Company’s financial
keuangan Perseroan, laba bersih Perseroan tahun buku management needs, 25% of the Company’s net income
2025 yang direncanakan untuk dibagikan pada tahun for the 2025 fiscal year is planned to be distributed as
2026 adalah sebesar 25%. dividends in 2026.
PROYEKSI HAL LAIN YANG PROJECTION OF OTHER MATTERS
DIANGGAP PENTING PERUSAHAAN CONSIDERED IMPORTANT
BY THE COMPANY
RKAP 2026 (Rp-miliar)
Prognosa 2025 (Rp-miliar)
The Company’s 2026 Work Plan and Growth (%)
2025 Prognosis
Budget
OS Pembiayaan & Investasi
96.755 105.502 9,04%
OS Financing & Investment
Pada tahun 2026, Pembiayaan & Investasi Perseroan In 2026, under the Financing & Investment business pillar,
memproyeksikan pertumbuhan volume outstanding the Company projects a 9.04% increase in the outstanding
Pembiayaan & Investasi sebesar 9,04% dari basis volume of Financing & Investment, from the 2025 forecast
prognosa 2025 sebesar Rp96,76 triliun menjadi Rp105,50 of IDR96.76 trillion to IDR105.50 trillion. This growth is
triliun. Pertumbuhan tersebut ditopang oleh dua supported by two key business segments, namely
segmen bisnis yaitu pembiayaan kepada Korporasi financing to Corporates and Public Sector financing.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
serta Pembiayaan Publik. Dalam aspek perencanaan, From a planning perspective, the 2026 projections are
penyusunan proyeksi tahun 2026 dilandaskan pada based on the forecasted year-end 2025 performance,
asumsi prognosa pencapaian pada akhir tahun 2025 which serves as the foundation for the preparation of the
sebagai basis penyusunan RKAP 2026. Company’s 2026 Work Plan and Budget.
322
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KEBIJAKAN DAN PEMBAGIAN DIVIDEN
DIVIDEND POLICY AND DISTRIBUTION
KEBIJAKAN POLICY
Kebijakan pembagian dividen PT SMI berpedoman pada PT SMI’s dividend distribution policy is guided by Law No.
Undang-Undang No. 40 Tahun 2007 tentang Perseroan 40 of 2007 concerning Limited Liability Companies, which
Terbatas, yang menetapkan bahwa keputusan mengenai stipulates that decisions on dividend distribution are
pembagian dividen ditetapkan melalui Rapat Umum determined through the General Meeting of Shareholders
Pemegang Saham (RUPS) dan hanya dapat dilakukan (GMS) and may only be made when the Company’s
apabila kondisi keuangan Perseroan memadai. RUPS juga financial condition is adequate. The GMS also determines
menetapkan waktu serta tata cara pembayaran dividen. the timing and procedures for dividend payments.
Adapun dalam menetapkan besaran dividen, Perseroan In determining the dividend amount, the Company
mempertimbangkan sejumlah faktor, termasuk considers several factors, including net profit for the
laba bersih tahun fiskal, kewajiban Perseroan untuk fiscal year, the obligation to allocate statutory reserves
mengalokasikan dana cadangan sesuai dengan in accordance with prevailing regulations, and the overall
peraturan yang berlaku, dan posisi keuangan Perseroan financial position of the Company. In addition, business
secara keseluruhan. Selain itu, aspek pertumbuhan growth prospects and strategic expansion plans are key
bisnis dan rencana ekspansi strategis turut menjadi considerations to ensure that the dividend policy remains
pertimbangan utama guna memastikan kebijakan aligned with the Company’s long-term development
dividen tetap sejalan dengan tujuan pengembangan objectives.
jangka panjang Perseroan.
KRONOLOGIS PEMBAGIAN DIVIDEN CHRONOLOGY OF DIVIDEND
DISTRIBUTION
Melalui Keputusan RUPS Tahunan yang dilaksanakan Based on the resolution of the Annual GMS held on 7
pada 7 Mei 2025, para Pemegang Saham menyetujui May 2025, the Shareholders approved that the entire net
bahwa seluruh laba bersih Tahun Buku 2024 ditetapkan income for the 2024 fiscal year be retained as retained
sebagai saldo laba. Informasi mengenai pembagian earnings. Information on dividend distribution and
dan pembayaran dividen pada tahun 2025 atas kinerja payment in 2025 for the 2024 fiscal year, as well as data
tahun buku 2024, serta data terkait pembagian dan on dividend distribution and payment in 2024 for the 2023
pembayaran dividen pada tahun 2024 atas hasil kinerja fiscal year, is presented in the following table.
tahun buku 2023, disajikan pada tabel berikut.
Tabel Pembagian Dividen 2024-2025
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Table of Dividend Distribution 2024-2025
2025
2024 (Untuk Dividen Saham
(Untuk Dividen Saham
Uraian Tahun Buku 2024)
Tahun Buku 2023)
Description 2024(For Dividends of
2025 (For Dividends of
2023 Fiscal Year)
2024 Fiscal Year)
Laba Bersih tahun sebelumnya (Rp miliar)
2.230 2.078
Net Income from the Previous Year (IDR billion)
Jumlah Dividen (Rp miliar)
558 520
Total Dividends (IDR billion)
Dividen Kas per Saham (Rp Penuh)
18.285 17.040
Cash Dividends per Share (IDR in full amount)
Payout Ratio (%) 25% 25%
Tanggal Pengumuman/Penetapan dalam RUPS 7 Mei 2025 20 Mei 2024
Date of Announcement/Resolution in the GMS May 7, 2025 May 20, 2024
Tanggal Pembayaran 5 Juni 2025 11 Juni 2024
Date of Payment June 5, 2025 June 11, 2024
323
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
PROSPEK USAHA
BUSINESS OUTLOOK
Prospek usaha Perseroan pada tahun 2026 diproyeksikan The Company’s business outlook for 2026 is projected
masih akan tetap bertumbuh. Fokus kebijakan periode to remain positive and continue growing. The policy
kepemimpinan Presiden Prabowo menempatkan focus under President Prabowo’s administration places
pembangunan sebagai prioritas utama yang dirangkum development as a top priority, as reflected in the Asta Cita,
dalam Asta Cita, yang mencakup 5 dari 8 misi dan where 5 out of 8 key missions emphasize infrastructure
program kerja berfokus pada pembangunan infrastruktur. development. This provides a strong positive signal for
Hal ini, memberikan sinyal positif terhadap prospek bisnis the Company’s business prospects over the next five
Perseroan dalam lima tahun ke depan. Namun demikian, years. However, competition in the infrastructure financing
di sisi lain, tingkat kompetisi di pasar pembiayaan market remains relatively high, posing a challenge for the
infrastruktur masih relatif tinggi dan menjadi tantangan Company to continuously deliver innovative financing
bagi Perseroan untuk terus menghadirkan pembiayaan solutions. In navigating this dynamic landscape, the
yang inovatif. Dalam menghadapi dinamika tersebut, Company holds several distinctive advantages compared
Perseroan memiliki keunggulan yang tidak dimiliki oleh to other financial institutions, including:
lembaga jasa keuangan dan lembaga keuangan lainnya,
antara lain sebagai berikut:
1. Perseroan memiliki tenor pembiayaan yang lebih 1. The Company offers more flexible financing tenors
fleksibel sesuai dengan karakter infrastruktur dengan aligned with the characteristics of infrastructure
tenor dengan jangka waktu yang relatif lebih panjang, projects, including relatively longer tenors.
2. Sustainable Financing, PT SMI memiliki ambisi untuk 2. Sustainable Financing: PT SMI aims to become a key
menjadi pendorong pembiayaan dan investasi yang driver of financing and investment that supports the
mendukung pencapaian Tujuan Pembangunan achievement of the Sustainable Development Goals
Berkelanjutan (SDG) di Indonesia. (SDGs) in Indonesia.
3. PT SMI sebagai Sustainability Promoter dan Ecosystem 3. As a Sustainability Promoter and Ecosystem Enabler,
Enabler, Perseroan berencana memobilisasi private the Company plans to mobilize private sector
sektor dalam rangka mendukung climate change participation in climate financing, leveraging its strong
financing yang menjadi keunggulan dan reputasi reputation and platforms such as SDG Indonesia One
yang baik dalam rangka mendorong pembiayaan (SIO).
berkelanjutan dan memiliki platform SDG Indonesia
One (SIO).
4. Perseroan menjadi market enabler dalam penyediaan 4. The Company acts as a market enabler by providing
produk-produk pembiayaan dan investasi yang innovative financing and investment products that are
inovatif yang tidak dapat diberikan oleh perbankan not typically offered by commercial banks, particularly
komersial lainnya, khususnya untuk dapat mengatasi to address market failures. These include Credit
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
market failure, seperti Credit Enhancement Facility Enhancement Facility (CEF), Cash Deficiency Support
(CEF), Cash Deficiency Support (CDS), Dana Talangan, (CDS), bridging funds, equity investments, de-risking
Equity Investment (Penyertaan Modal), de-risking facilities, and others.
facility, dan lain sebagainya. 5. The Company has access to intercept mechanisms
5. Perseroan memiliki mekanisme intercept dan and government guarantees for regional government
government guarantee untuk pembiayaan Pemda, financing, as stipulated under Regulation of the
sebagaimana tercantum pada PMK No. 174/ Minister of Finance No. 174/PMK.08/2016 concerning the
PMK.08/2016 tentang Pemberian Jaminan kepada Provision of Guarantees to Limited Liability Company
Perusahaan Perseroan (Persero) PT Sarana Multi PT Sarana Multi Infrastruktur (Persero) in the Context of
Infrastruktur dalam Rangka Penugasan Penyediaan the Assignment for Regional Infrastructure Financing.
Pembiayaan Infrastruktur Daerah.
6. Perseroan ke depannya akan menjalankan 6. Going forward, the Company will implement a blended
mekanisme blended finance melalui sinergi fiscal finance mechanism through the synergy of fiscal
tools dengan pembiayaan publik yang diberikan tools with public financing provided to regional
Perseroan kepada Pemda atau lembaga publik governments or other public institutions, as outlined
lainnya, sebagaimana tercantum pada Rencana in the Company’s 2024–2028 Long-Term Plan.
Jangka Panjang Perusahaan (RJPP) 2024-2028.
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7. PT SMI memiliki basis data infrastruktur yang kuat 7. PT SMI has a strong infrastructure database and
dan koneksi ke multilateral untuk pendanaan publik. connections with multilateral institutions for public
8. Berbagai bentuk dukungan Pemerintah yang turut funding.
menunjang peran Perseroan sebagai Development 8. Various forms of Government support further
Finance Institution (DFI) seperti dukungan Dana strengthen the Company’s role as a Development
OIP sebagai upaya penguatan modal Perseroan Finance Institution (DFI), including the OIP Fund to
khususnya dalam mendorong transformasi strengthen the Company’s capital, particularly in
pembiayaan publik sebagaimana yang tercantum supporting the transformation of public financing as
pada RJPP 2024-2028. outlined in the Company’s 2024–2028 Long-Term Plan.
9. PT SMI memiliki mandat untuk menyalurkan dana 9. PT SMI has a mandate to channel Government funds,
Pemerintah termasuk kerja sama pendanaan including cooperation with multilateral institutions
murah dari multilateral seperti bundle package for concessional financing and grant bundles that
dana hibah yang dapat dimanfaatkan untuk can be utilized to support national infrastructure
mendukung pembangunan proyek infrastruktur development, such as blended finance schemes
nasional, contohnya blended finance pembiayaan and the distribution of donor grants for humanitarian
dan penyaluran dana hibah donor untuk kegiatan activities related to earthquakes, liquefaction, and
kemanusiaan atas bencana gempa bumi, likuifaksi, tsunami disasters.
dan tsunami.
10. PT SMI juga berpotensi untuk turut serta dalam 10. PT SMI also has the potential to participate in strategic
proyek strategis di sektor ketahanan bencana, salah projects in the disaster resilience sector, one of
satunya pembangunan giant sea wall sebagai which is the development of a giant sea wall as risk
infrastruktur mitigasi risiko. Kehadiran giant sea wall mitigation infrastructure. The presence of a giant
tidak hanya menjadi solusi fisik dalam mengurangi sea wall not only serves as a physical solution to
kerentanan masyarakat terhadap bencana, tetapi reduce community vulnerability to disasters but also
juga mencerminkan komitmen Perseroan dalam reflects the Company’s commitment to supporting
mendukung agenda pemerintah terkait pengurangan the Government’s agenda on disaster risk reduction
risiko bencana serta pembangunan berkelanjutan. and sustainable development. Through its role as a
Melalui peran sebagai katalis pembiayaan, PT SMI financing catalyst, PT SMI is committed to ensuring
berkomitmen untuk memastikan bahwa pipeline that the disaster resilience sector pipeline can be
sektor ketahanan bencana dapat terealisasi dengan realized effectively and deliver tangible benefits to
tepat sasaran dan memberi manfaat nyata bagi society.
masyarakat.
11. PT SMI juga memiliki kompetensi internal yang kuat 11. PT SMI also has strong internal competencies in
dalam bidang Environmental, Social, and Governance Environmental, Social, and Governance (ESG),
(ESG) yang telah terbangun melalui pengalaman developed through its experience in supporting
dalam mendampingi berbagai proyek berkelanjutan. various sustainable projects. Going forward, these
Ke depan, kompetensi ini tidak hanya dimanfaatkan competencies will not only be utilized to support the
untuk mendukung internalisasi prinsip ESG dalam internalization of ESG principles in the Company’s
kegiatan pembiayaan Perseroan, tetapi juga akan financing activities but will also be monetized as a
dimonetisasi sebagai sumber nilai tambah baru. new source of added value.
12. PT SMI memiliki SMI Institute yang bertujuan 12. PT SMI has the SMI Institute, which aims to provide
memberikan solusi bagi pembangunan di daerah solutions for regional development through a PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
dengan basis riset untuk menjawab tantangan research-based approach to address economic
perekonomian melalui kegiatan research & fellowship, challenges, including research & fellowship, capacity
capacity building & training , serta knowledge building & training, and knowledge sharing activities
sharing yang ditujukan untuk menjembatani aimed at bridging national economic growth in line
pertumbuhan ekonomi nasional melalui mandat with the Company’s development mandate.
pembangunan yang dimiliki oleh PT SMI.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
ASPEK PEMASARAN
MARKETING ASPECT
STRATEGI PEMASARAN MARKETING STRATEGY
Untuk mendukung pencapaian kinerja yang optimal, To support the achievement of optimal performance,
PT SMI menetapkan strategi pemasaran yang terarah PT SMI has established a focused marketing strategy in
dalam menjalankan kegiatan usaha pada tahun 2025. carrying out its business activities in 2025. The strategy
Strategi pemasaran tersebut antara lain mencakup hal- includes the following:
hal sebagai berikut:
1. Melakukan aktivitas pemasaran melalui eksisting 1. Conducting marketing activities through existing
debitur dan/atau mencari potensial calon debitur debtors and/or identifying potential new debtors in
di pasar. the market.
2. Pengembangan produk-produk pembiayaan yang 2. Developing more innovative financing products
lebih inovatif dan sesuai dengan kebutuhan sektor aligned with the needs of the infrastructure sector.
infrastruktur.
3. Secara aktif melakukan sosialisasi produk-produk 3. Actively promoting sharia financing products,
pembiayaan syariah, khususnya memperkenalkan particularly introducing those with specific features
produk pembiayaan syariah yang memiliki fitur-fitur (IMBT off-balance sheet financing).
khusus (pembiayaan IMBT off balance sheet).
4. Sosialisasi dan pengembangan hubungan dengan 4. Strengthening outreach and relationships with
Lembaga Domestik dan Multilateral. domestic and multilateral institutions.
5. Melakukan riset dalam mendukung kegiatan 5. Conducting research to support business development
pengembangan bisnis. activities.
6. Supervisi dan implementasi Strategic Partnership dan 6. Supervising and implementing Strategic Partnerships
platform SDG Indonesia One (SIO). and the SDG Indonesia One (SIO) platform.
7. Pengembangan skema Energy Transition Mechanism 7. Developing the Energy Transition Mechanism (ETM)
(ETM) dan formalisasi struktur organisasi Tim ETM. scheme and formalizing the organizational structure
of the ETM Team.
8. Melakukan pengelolaan terkait alokasi penggunaan 8. Managing the allocation of PISP funds for geothermal
dana PISP untuk program panas bumi dan programs and participating in seminars, capacity
berpartisipasi dalam seminar/capacity building/ building, and outreach related to geothermal sector
sosialisasi pengembangan sektor panas bumi. development.
9. Mendukung program Geothermal Energy Upstream 9. Supporting the Geothermal Energy Upstream
Development Project (GEUDP), Geothermal Resource Development Project (GEUDP), Geothermal Resource
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Risk Mitigation (GREM), dan pengembangan produk Risk Mitigation (GREM), and the development of SOE
SOE Drilling. Drilling products.
10. Penyusunan pemetaan pemerintah daerah untuk 10. Preparing regional government mapping for priority
sektor prioritas pembiayaan publik melalui kajian public financing sectors through studies conducted
yang disusun oleh SMI Institute. by the SMI Institute.
11. Kolaborasi SMI Institute dengan stakeholders terkait 11. Collaborating with stakeholders (Ministry of
(Kementerian Keuangan, Perguruan Tinggi, Lembaga Finance, universities, research institutions, regional
Penelitian, Pemerintah Daerah, dan Komunitas governments, and relevant communities) to identify
tertentu) untuk mendapatkan gambaran mengenai specific regional needs.
kebutuhan spesifik pada suatu daerah.
12. Pelaksanaan capacity building yang diberikan kepada 12. Delivering capacity building programs to regional
Pemerintah Daerah untuk mendukung proses inisiasi governments to facilitate financing initiation
pembiayaan yang lebih mudah. processes.
13. Penguatan Ekosistem Infrastruktur KPBU. 13. Strengthening the PPP (KPBU) infrastructure
ecosystem.
14. Aktif menjalin hubungan dengan pemangku 14. Actively maintaining relationships with stakeholders.
kepentingan.
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PANGSA PASAR MARKET SHARE
Perseroan mampu mencapai komitmen pembiayaan The Company achieved financing commitments of
sebesar Rp168,75 triliun (termasuk IIF) pada tahun 2025 IDR168.75 trillion (including IIF) in 2025 and projects
dan memproyeksikan capaian komitmen pembiayaan financing commitments of IDR167.7 trillion (including IIF)
sebesar Rp167,7 triliun (termasuk IIF) pada tahun 2026. in 2026.
Dalam hal outstanding, Perseroan mampu mencapai aset In terms of outstanding, the Company recorded financing
pembiayaan sebesar Rp94,88 triliun (termasuk IIF) pada assets of IDR94.88 trillion (including IIF) in 2025 and
tahun 2025 dan memproyeksikan capaian outstanding projects outstanding financing to reach IDR105.5 trillion
pembiayaan sebesar Rp105,5 triliun (termasuk IIF) pada (including IIF) in 2026.
tahun 2026.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
REALISASI PENGGUNAAN DANA
HASIL PENAWARAN UMUM
REALIZATION OF THE USE OF PROCEEDS FROM PUBLIC OFFERING
Mengacu pada ketentuan POJK No. 30/POJK.04/2015 Referring to the provisions of Regulation of the Financial
tentang Laporan Realisasi Penggunaan Dana Hasil Services Authority No. 30/POJK.04/2015 concerning the
Penawaran Umum, PT SMI telah menyampaikan laporan Report on the Realization of the Use of Proceeds from
atas penggunaan dana tersebut per 31 Desember 2025. Public Offerings, PT SMI has submitted its report on the
Rincian realisasinya adalah sebagai berikut: utilization of such funds as of December 31, 2025. The
details of the realization are as follows:
Nilai Realisasi Hasil
Amount of Actual Use
Jenis Penawaran Tanggal
No Umum Efektif Jumlah Hasil
Type of Public Offering Effective Date Biaya Penawaran
Penawaran Umum
Umum Hasil Bersih
Total Proceeds
Cost of Public Net Proceeds
from Public
Offering
Offering
Obligasi Berkelanjutan IV
Sarana Multi Infrastruktur
Tahap III Tahun 2025 27 Maret 2025
1 2.750.000.000.000 3.808.060.406 2.746.191.939.594
Shelf Registration Bonds IV March 27, 2025
Sarana Multi Infrastruktur
Tranche III Year 2025
Obligasi Berkelanjutan IV
Sarana Multi Infrastruktur 27 November
Tahap IV Tahun 2025 2025
2 4.000.000.000.000 4.254.461.537 3.995.745.538.463
Shelf Registration Bonds IV November 27,
Sarana Multi Infrastruktur 2025
Tranche IV Year 2025
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Sukuk Berkelanjutan III Sarana
Multi Infrastruktur Tahap II 27 November
Tahun 2025 2025
3 2.500.000.000.000 2.659.038.463 2.497.340.961.537
Shelf Registration Sukuk III November 27,
Sarana Multi Infrastruktur 2025
Tranche II Year 2025
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dalam Rp
in IDR
Rencana Penggunaan Realisasi Penggunaan
Dana Menurut Prospektus Dana Menurut Prospektus
Planned Use of Proceeds Actual Use of Proceeds
Pursuant to Prospectus Pursuant to Prospectus Sisa Dana Hasil
Penawaran Umum
Remaining Proceed
from Public Offering
Pembiayaan Pembiayaan
Total Total
Financing Financing
2.746.191.935.594 2.746.191.939.594 2.746.191.939.594 2.746.191.939.594 -
3.995.745.538.463 3.995.745.538.463 3.995.745.538.463 3.995.745.538.463 -
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
2.497.340.961.537 2.497.340.961.537 2.497.340.961.537 2.497.340.961.537 -
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
INFORMASI MATERIAL MENGENAI INVESTASI,
EKSPANSI, DIVESTASI, PENGGABUNGAN/
PELEBURAN USAHA, AKUISISI, DAN
RESTRUKTURISASI UTANG/MODAL
MATERIAL INFORMATION ON INVESTMENT, EXPANSION,
DIVESTMENT, BUSINESS MERGER/ CONSOLIDATION,
ACQUISITION, DEBT/CAPITAL RESTRUCTURING
Pada tahun buku 2025, Perseroan mencatat satu aksi In the 2025 fiscal year, the Company recorded one
korporasi yang bersifat material, yaitu pelepasan material corporate action, namely the divestment of
seluruh kepemilikan saham Perseroan sebesar 55% its entire 55% shareholding in PT Cimanggis Cibitung
pada PT Cimanggis Cibitung Tollways (PT CCT) yang Tollways (PT CCT), which was executed on November
dilaksanakan pada 28 November 2025. Langkah tersebut 28, 2025. This step was taken as part of the Company’s
ditempuh sebagai bagian dari strategi Perseroan untuk strategy to strengthen its capacity in financing national
memperkuat kapasitas pembiayaan pembangunan development and to optimize the management of its
nasional serta mengoptimalkan pengelolaan portofolio investment portfolio.
investasi.
Selain transaksi tersebut, selama tahun buku 2025 Apart from this transaction, throughout the 2025 fiscal
Perseroan tidak melakukan investasi, ekspansi, year, the Company did not undertake any investments,
penggabungan/peleburan usaha, akuisisi, maupun expansions, mergers/consolidations, acquisitions, or
restrukturisasi utang/modal. debt/capital restructuring.
Berikut ini informasi lengkap mengenai informasi material The following provides detailed information on the
mengenai divestasi yang dilakukan pada 2025: material divestment carried out in 2025:
Uraian Keterangan
Description Remarks
Jenis transaksi/informasi material Divestasi
Type of transaction/material information Divestment
Tanggal transaksi 28 November 2025
Transaction date November 28, 2025
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Pelepasan seluruh kepemilikan saham Perseroan sebesar 55% pada PT
Objek transaksi Cimanggis Cibitung Tollways (PT CCT)
Transaction object Divestment of the Company’s entire 55% shareholding in PT Cimanggis
Cibitung Tollways (PT CCT)
PT Sarana Multi Infrastruktur (Persero) dan salah satu
Pihak yang melakukan transaksi
Pemegang Saham eksisting
Parties involved in the transaction
PT Sarana Multi Infrastruktur (Persero) and one of its existing shareholders
Sifat hubungan afiliasi Tidak terdapat hubungan afiliasi
Nature of affiliated relationship No affiliated relationship
Transaksi dilakukan sebagai langkah strategis Perseroan untuk memperkuat
kapasitas pembiayaan pembangunan nasional serta mengoptimalkan
pengelolaan portofolio investasi. Adapun penilaian kewajaran transaksi
Penjelasan mengenai kewajaran transaksi dilakukan sesuai ketentuan yang berlaku.
Explanation on the fairness of the transaction The transaction was carried out as part of the Company’s strategic initiative
to strengthen its capacity to finance national development and to optimize
the management of its investment portfolio. The fairness of the transaction
was assessed in accordance with applicable regulations.
Transaksi dilaksanakan dengan mengacu pada ketentuan peraturan
Pemenuhan ketentuan terkait
perundang-undangan yang berlaku dan kebijakan internal Perseroan.
Compliance with relevant regulations
The transaction was conducted in compliance with prevailing laws and
Board of Directors’ statement (if affiliated transaction)
regulations as well as the Company’s internal policies.
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Uraian Keterangan
Description Remarks
Direksi menyatakan bahwa apabila transaksi ini merupakan transaksi afiliasi,
transaksi tersebut telah melalui prosedur yang memadai untuk memastikan
pelaksanaannya sesuai dengan praktik bisnis yang berlaku umum, termasuk
Pernyataan Direksi (jika transaksi afiliasi)
pemenuhan prinsip kewajaran (arms-length principle).
Statement of the Board of Directors (if affiliated
The Board of Directors states that, if this transaction constitutes an affiliated
transaction)
transaction, it has followed adequate procedures to ensure its execution
in accordance with generally accepted business practices, including
compliance with the arm’s length principle.
Dewan Komisaris dan Komite Audit melakukan pengawasan serta prosedur
penelaahan yang memadai untuk memastikan bahwa transaksi afiliasi,
Peran Dewan Komisaris dan Komite Audit (jika apabila ada, dilaksanakan sesuai praktik bisnis yang berlaku umum dan
transaksi afiliasi) memenuhi prinsip kewajaran (arms-length principle).
Role of the Board of Commissioners and Audit The Board of Commissioners and the Audit Committee conducted
Committee (if affiliated transaction) appropriate oversight and review procedures to ensure that any affiliated
transaction, if applicable, was carried out in accordance with generally
accepted business practices and complied with the arm’s length principle.
Transaksi ini bukan merupakan kegiatan usaha yang dijalankan secara rutin,
berulang, dan/atau berkelanjutan dalam rangka menghasilkan pendapatan
Sifat transaksi rutin/berulang/berkelanjutan
usaha.
Nature of the transaction (routine/recurring/
This transaction does not constitute a routine, recurring, and/or continuous
continuous)
business activity carried out in the ordinary course of generating operating
revenue.
Rujukan pada laporan keuangan tahunan Diungkapkan pada Catatan atas Laporan Keuangan No. 11
Reference to the annual financial statements Disclosed in the Notes to the Financial Statements No. 11
4 September 2025 (Persetujuan dari Kementerian Keuangan sesuai Surat No.
Tanggal RUPS yang menyetujui transaksi S-585/MK.07/2025)
Date of the GMS approving the transaction September 4, 2025 (Approval from The Ministry of Finance in accordance with
Letter No. S-585/MK.07/2025)
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
INFORMASI TRANSAKSI MATERIAL YANG
MENGANDUNG BENTURAN KEPENTINGAN
DAN/ATAU TRANSAKSI DENGAN PIHAK AFILIASI
INFORMATION ON MATERIAL TRANSACTIONS
CONTAINING CONFLICT OF INTEREST AND/OR
TRANSACTIONS WITH AFFILIATED PARTIES
Berpedoman pada ketentuan yang diatur dalam Referring to Regulation of Financial Services Authority No.
Peraturan Otoritas Jasa Keuangan (POJK) No. 17/ 17/POJK.04/2020 concerning Material Transactions and
POJK.04/2020 tentang Transaksi Material dan Perubahan Changes in Business Activities, a material transaction is a
Kegiatan Usaha, transaksi material didefinisikan sebagai transaction conducted by a public company that meets
transaksi yang dilakukan oleh perusahaan terbuka dan one of the following criteria:
memenuhi salah satu kriteria berikut:
1. Nilai Transaksi yang Signifikan, yaitu jika transaksi 1. Significant Transaction Value, which is defined as
mencapai atau melebihi 20% dari ekuitas perusahaan a transaction that reaches or exceeds 20% of the
berdasarkan laporan keuangan terakhir, dan jika Company’s equity based on the most recent financial
transaksi bertahap, akumulasi transaksi dalam statements. If the transaction is incremental, the
satu tahun juga dihitung untuk menentukan cumulative total of transactions within a year is also
materialitasnya. considered to determine its materiality.
2. Jenis Transaksi yang Termasuk Material 2. Types of Transactions Included as Material
a. Investasi (misalnya pembelian aset tetap, saham, a. Investment (e.g., purchase of fixed assets, shares,
atau bisnis lain). or other businesses).
b. Pengambilalihan perusahaan lain. b. Acquisition of another company.
c. Penyertaan modal dalam entitas lain. c. Equity investment in another entity.
d. Perjanjian pembiayaan yang berdampak besar d. Financing agreements that significantly impact
terhadap likuiditas perusahaan. the Company’s liquidity.
e. Transaksi lain yang dapat mempengaruhi e. Other transactions that could affect the Company’s
kelangsungan usaha perusahaan. business continuity.
Jika transaksi melebihi 50% dari ekuitas, maka harus If a transaction exceeds 50% of equity, it must receive
mendapatkan persetujuan dari pemegang saham approval from shareholders in a General Meeting
dalam Rapat Umum Pemegang Saham (RUPS). of Shareholders (GMS). The Company is required to
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Perusahaan wajib melaporkan dan mengungkapkan report and disclose the transaction transparently in
secara transparan dalam laporan keuangan dan the financial statements and public disclosures.
keterbukaan informasi kepada publik.
Tujuan Pengaturan Transaksi Material ini adalah The purpose of these regulations on material
untuk melindungi investor dan pemegang saham transactions is to protect investors and shareholders
dari potensi transaksi yang merugikan, menjamin from potentially detrimental transactions, ensure
transparansi dan akuntabilitas dalam pengelolaan transparency and accountability in the Company’s
keuangan perusahaan, serta mencegah praktik financial management, and prevent practices that
yang berpotensi merugikan, seperti transaksi yang could be harmful, such as transactions that contain
mengandung konflik kepentingan. conflicts of interest.
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TRANSAKSI MATERIAL MATERIAL TRANSACTIONS
YANG MENGANDUNG CONTAINING CONFLICT OF INTEREST
BENTURAN KEPENTINGAN
Sesuai dengan POJK No. 42/POJK.04/2020 tentang Based on Regulation of Financial Services Authority No.
Transaksi Afiliasi dan Transaksi Benturan Kepentingan, 42/POJK.04/2020 concerning Affiliated Transactions and
benturan kepentingan adalah perbedaan antara Conflict of Interest Transactions, a conflict of interest is
kepentingan ekonomis Perusahaan Terbuka dengan defined as a difference between the economic interests of
kepentingan ekonomis pribadi Anggota Direksi, Anggota a Public Company and the personal economic interests of
Dewan Komisaris, Pemegang Saham Utama, atau Members of the Board of Directors, Members of the Board
Pengendali yang dapat merugikan perusahaan terbuka of Commissioners, Major Shareholders, or Controlling
dimaksud. Shareholders, which may be detrimental to the said Public
Company.
Adapun sepanjang tahun 2025, Perseroan tidak mencatat As of the end of 2025, there were no transactions that
adanya transaksi yang memenuhi kategori benturan met the criteria for a conflict of interest.
kepentingan.
TRANSAKSI AFILIASI AFFILIATE TRANSACTIONS
Berdasarkan ketentuan dalam POJK No. 42/POJK.04/2020, Referring to Regulation of Financial Services Authority No.
yang dimaksud dengan afiliasi adalah: 42/POJK.04/2020, affiliation is defined as:
1. Hubungan keluarga karena perkawinan dan keturunan 1. A family relationship by marriage and blood up to
sampai derajat kedua, baik secara horizontal maupun the second degree, both horizontally and vertically;
vertikal;
2. Hubungan antara pihak dengan Pegawai, Direktur, 2. A relationship between a party and employees,
atau Komisaris dari pihak tersebut; Directors, or Commissioners of that party;
3. Hubungan antara 2 (dua) Perusahaan di mana 3. A relationship between two (2) companies where
terdapat 1 (satu) atau lebih anggota Direksi atau one (1) or more members of the Board of Directors
Dewan Komisaris yang sama; or Board of Commissioners are the same;
4. Hubungan antara Perusahaan dan Pihak, baik 4. A relationship between a company and a party, either
langsung maupun tidak langsung, mengendalikan directly or indirectly, controlling or being controlled
atau dikendalikan oleh perusahaan tersebut; by the Company;
5. Hubungan antara 2 (dua) perusahaan yang 5. A relationship between two (2) companies that are
dikendalikan, baik langsung maupun tidak langsung, controlled, either directly or indirectly, by the same
oleh pihak yang sama; atau party;
6. Hubungan antara Perusahaan dan Pemegang Saham 6. A relationship between the Company and the Majority
Utama. Shareholder.
Di sisi lain, transaksi afiliasi adalah setiap aktivitas Meanwhile, an affiliated transaction is any activity
dan/atau transaksi yang dilakukan oleh perusahaan and/or transaction carried out by a public company
terbuka atau perusahaan terkendali dengan afiliasi dari or a controlled company with an affiliate of the public PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
perusahaan terbuka atau afiliasi dari Anggota Direksi, company or an affiliate of the Members of the Board
Anggota Dewan Komisaris, Pemegang Saham Utama, of Directors, Members of the Board of Commissioners,
atau Pengendali, termasuk setiap aktivitas dan/atau Major Shareholders, or Controlling Shareholders, including
transaksi yang dilakukan oleh Perusahaan Terbuka atau any activity and/or transaction carried out by the Public
Perusahaan Terkendali untuk kepentingan Afiliasi dari Company or Controlled company for the benefit of an
Perusahaan Terbuka atau Afiliasi dari anggota Direksi, affiliate of the Public Company or an affiliate of the
Anggota Dewan Komisaris, Pemegang Saham Utama, Members of the Board of Directors, Members of the Board
atau Pengendali. of Commissioners, Major Shareholders, or Controlling
Shareholders.
Sepanjang tahun buku 2025, Perseroan tidak memiliki As of the end of 2025, there were no transactions that
transaksi yang dikategorikan sebagai transaksi dengan met the criteria for transactions with affiliated parties.
pihak terafiliasi.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
TRANSAKSI PIHAK BERELASI TRANSACTIONS WITH
RELATED PARTIES
Berdasarkan PSAK 224 tentang Pengungkapan Pihak- Based on PSAK 224 on Related Party Disclosures, a related
Pihak Berelasi, definisi pihak-pihak berelasi adalah orang party is defined as a person or entity that is related to
atau entitas yang terkait dengan Perusahaan (entitas the Company (the reporting entity):
pelapor):
1. Orang atau anggota keluarga terdekat mempunyai 1. A person or a close member of that person’s family is
relasi dengan entitas pelapor jika orang tersebut: related to the reporting entity if that person:
a. Memiliki pengendalian atau pengendalian a. Has control or joint control over the reporting entity;
bersama entitas pelapor; b. Has significant influence over the reporting entity;
b. Memiliki pengaruh signifikan atas entitas pelapor; or
atau c. Is a member of the key management personnel of
c. Merupakan personel manajemen kunci entitas the reporting entity or of a parent of the reporting
pelapor atau entitas induk dari entitas pelapor. entity
2. Suatu entitas berelasi dengan entitas pelapor jika 2. An entity is related to the reporting entity if any of the
memenuhi salah satu hal berikut: following conditions applies:
a. Entitas dan entitas pelapor adalah anggota dari a. The entity, and the reporting entity are members of
kelompok usaha yang sama (artinya entitas induk, the same group (which means that each parent,
entitas anak, dan entitas anak berikutnya terkait subsidiary and fellow subsidiary is related to the
dengan entitas lain); others);
b. Satu entitas adalah entitas asosiasi atau ventura b. One entity is an associate or joint venture of the
bersama dari entitas lain (atau entitas asosiasi other entity (or an associate or joint venture of a
atau ventura bersama yang merupakan anggota member of a group of which the other entity is a
suatu kelompok usaha, yang mana entitas lain member);
tersebut adalah anggotanya);
c. Kedua entitas tersebut adalah ventura bersama c. Both entities are joint ventures of the same third
dari pihak ketiga yang sama; party;
d. Satu entitas adalah ventura bersama dari entitas d. One entity is a joint venture of a third entity and
ketiga dan entitas yang lain adalah entitas the other entity is an associate of the third entity;
asosiasi dari entitas ketiga;
e. Entitas tersebut adalah suatu program imbalan e. The entity is a post-employment benefit plan for
pascakerja untuk imbalan kerja dari salah satu the benefit of employees of either the reporting
entitas pelapor atau entitas yang terkait dengan entity, or an entity related to the reporting entity.
entitas pelapor. Jika entitas pelapor adalah entitas If the reporting entity in itself such a plan, the
yang menyelenggarakan program tersebut, maka sponsoring entity are also related to the reporting
entitas sponsor juga berelasi dengan entitas entity;
pelapor;
f. Entitas yang dikendalikan atau dikendalikan f. The entity is controlled or jointly controlled by a
bersama oleh orang yang diidentifikasi dalam person identified in (1);
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
angka (1);
g. Orang yang diidentifikasi dalam angka (1) (a) g. A person identified in (1) (a) has significant
memiliki pengaruh signifikan atas entitas atau influence over the entity or is a member of the
personel manajemen kunci entitas (atau entitas key management personnel of the entity (or a
induk dari entitas); dan parent of the entity); and
h. Entitas, atau anggota dari kelompok yang mana h. The entity, or any member of a group of which it
entitas merupakan bagian dari kelompok tersebut, is a part, provides key management personnel
menyediakan jasa personel manajemen kunci services to the reporting entity or to the parent of
kepada entitas pelapor atau kepada entitas induk the reporting entity.
dari entitas pelapor.
Setiap transaksi signifikan yang melibatkan pihak- Significant transactions conducted with related parties,
pihak berelasi, baik yang dilakukan dengan syarat dan whether conducted under the same terms and conditions
ketentuan yang sama dengan pihak ketiga maupun as with third parties or not, have been disclosed in the
tidak, telah disajikan secara lengkap dalam Laporan Company’s Audited Financial Statements in this Annual
Keuangan Audited Perseroan yang menjadi bagian Report.
dari Laporan Tahunan ini.
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NAMA PIHAK DAN SIFAT NAME OF PARTIES AND NATURE OF
HUBUNGAN BERELASI RELATIONSHIP OF RELATED PARTIES
Sifat Hubungan Pihak Berelasi
Nature of Relationship
Hubungan kepemilikan melalui Pemerintah Republik Indonesia
Ownership by the Government of Republic of Indonesia
Kementerian Keuangan Republik Indonesia Pemerintah Kabupaten Ponorogo
Ministry of Finance of Republic of Indonesia Ponorogo Regency Government
Badan Layanan Umum Pemerintah Kabupaten Poso
Public Service Agency Poso Regency Government
Pemerintah Kabupaten Pulau Morotai
Bank Indonesia
Morotai Island Regency Government
Pemerintah Kabupaten Badung Pemerintah Kabupaten Sampang
Badung Regency Government Sampang Regency Government
Pemerintah Kabupaten Bandung Barat Pemerintah Kabupaten Serdang Bedagai
West Bandung Regency Government Serdang Bedagai Regency Government
Pemerintah Kabupaten Bangli Pemerintah Kabupaten Sikka
Bangli Regency Government Sikka Regency Government
Pemerintah Kabupaten Banyuasin Pemerintah Kabupaten Sinjai
Banyuasin Regency Government Sinjai Regency Government
Pemerintah Kabupaten Banyumas Pemerintah Kabupaten Soppeng
Banyumas Regency Government Soppeng Regency Government
Pemerintah Kabupaten Batu Bara Pemerintah Kabupaten Tabalong
Batu Bara Regency Government Tabalong Regency Government
Pemerintah Kabupaten Bengkayang Pemerintah Kabupaten Tabanan
Bengkayang Regency Government Tabanan Regency Government
Pemerintah Kabupaten Bone Pemerintah Kabupaten Takalar
Bone Regency Government Takalar Regency Government
Pemerintah Kabupaten Bone Bolango Pemerintah Kabupaten Tanggamus
Bone Bolango Regency Government Tanggamus Regency Government
Pemerintah Kabupaten Buton Utara Pemerintah Kabupaten Tapanuli Tengah
North Buton Regency Government Central Tapanuli Regency Government
Pemerintah Kabupaten Enrekang Pemerintah Kabupaten Tapanuli Utara
Enrekang Regency Government North Tapanuli Regency Government
Pemerintah Kabupaten Gianyar Pemerintah Kabupaten Tapin
Gianyar Regency Government Tapin Regency Government
Pemerintah Kabupaten Gorontalo Pemerintah Kabupaten Tebo
Gorontalo Regency Government Tebo Regency Government
Pemerintah Kabupaten Gorontalo Utara Pemerintah Kabupaten Trenggalek
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
North Gorontalo Regency Government Trenggalek Regency Government
Pemerintah Kabupaten Gowa Pemerintah kabupaten Tulang Bawang Barat
Gowa Regency Government West Tulang Bawang Regency Government
Pemerintah Kabupaten Halmahera Barat Pemerintah Kabupaten Wajo
West Halmahera Regency Government Wajo Regency Government
Pemerintah Kabupaten Hulu Sungai Utara Pemerintah Kepulauan Bangka Belitung
North Hulu Sungai Regency Government Bangka Belitung Islands Provincial Government
Pemerintah Kabupaten Kapuas Pemerintah Kota Banda Aceh
Kapuas Regency Government Banda Aceh City Government
Pemerintah Kabupaten Kepahiang Pemerintah Kota Bandar Lampung
Kepahiang Regency Government Bandar Lampung City Government
Pemerintah Kabupaten Kepulauan Sangihe
Pemerintah Kota Bogor
Sangihe Islands Regency Government
Bogor City Government
Pemerintah Kabupaten Kepulauan Yapen Pemerintah Kota Gorontalo
Yapen Islands Regency Government Gorontalo City Government
Pemerintah Kabupaten Klungkung Pemerintah Kota Padang
Klungkung Regency Government Padang City Government
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Sifat Hubungan Pihak Berelasi
Nature of Relationship
Hubungan kepemilikan melalui Pemerintah Republik Indonesia
Ownership by the Government of Republic of Indonesia
Pemerintah Kabupaten Konawe Pemerintah Kota Sibolga
Konawe Regency Government Sibolga City Government
Pemerintah Kabupaten Konawe Selatan Pemerintah Kota Singkawang
South Konawe Regency Government Singkawang City Government
Pemerintah Kabupaten Lampung Barat Pemerintah Kota Solok
West Lampung Regency Government Solok City Government
Pemerintah Kabupaten Lampung Selatan Pemerintah Kota Subulussalam
South Lampung Regency Government Subulussalam City Government
Pemerintah Kabupaten Lampung Tengah Pemerintah Kota Tomohon
Central Lampung Regency Government Tomohon City Government
Pemerintah Kabupaten Lampung Utara Pemerintah Kotamadya Banda Aceh
North Lampung Regency Government Banda Aceh Municipality Government
Pemerintah Kabupaten Lembata Pemerintah Kotamadya Bitung
Lembata Regency Government Bitung Municipality Government
Pemerintah Kabupaten Lombok Tengah Pemerintah Kotamadya Kendari
Central Lombok Regency Government Kendari Municipality Government
Pemerintah Kabupaten Lombok Timur Pemerintah Kotamadya Manado
East Lombok Regency Government Manado Municipality Government
Pemerintah Kabupaten Lubuklinggau Pemerintah Kotamadya Mojokerto
Lubuklinggau City Government Mojokerto Municipality Government
Pemerintah Kabupaten Lumajang Pemerintah Kotamadya Palangkaraya
Lumajang Regency Government Palangkaraya Municipality Government
Pemerintah Kabupaten Luwu Utara Pemerintah Kotamadya Palembang
North Luwu Regency Government Palembang Municipality Government
Pemerintah Kabupaten Maluku Barat Daya Pemerintah Kotamadya Sibolga
Southwest Maluku Regency Government Sibolga Municipality Government
Pemerintah Kabupaten Mamasa Pemerintah Kotamadya Subulussalam
Mamasa Regency Government Subulussalam Municipality Government
Pemerintah Kabupaten Manggarai Barat Pemerintah Provinsi Bali
West Manggarai Regency Government Bali Provincial Government
Pemerintah Kabupaten Minahasa Pemerintah Provinsi Bangka Belitung
Minahasa Regency Government Bangka Belitung Provincial Government
Pemerintah Kabupaten Morowali Utara Pemerintah Provinsi Banten
North Morowali Regency Government Banten Provincial Government
Pemerintah Kabupaten Muna Pemerintah Provinsi DKI Jakarta
Muna Regency Government Special Capital Region of Jakarta Provincial Government
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Pemerintah Kabupaten Padang Lawas Utara Pemerintah Provinsi Gorontalo
North Padang Lawas Regency Government Gorontalo Provincial Government
Pemerintah Kabupaten Pamekasan Pemerintah Provinsi Jawa Barat
Pamekasan Regency Government West Java Provincial Government
Pemerintah Kabupaten Penajam Paser Utara Pemerintah Provinsi Jawa Timur
North Penajam Paser Regency Government East Java Provincial Government
Pemerintah Kabupaten Pohuwato Pemerintah Provinsi Kepulauan Riau
Pohuwato Regency Government Riau Islands Provincial Government
Pemerintah Provinsi Maluku
PT Jasamarga Akses Patimban
Maluku Provincial Government
Pemerintah Provinsi Maluku Utara
PT Jasamarga Balikpapan Samarinda
North Maluku Provincial Government
Pemerintah Provinsi Nusa Tenggara Barat
PT Jasamarga Jalanlayang Cikampek
West Nusa Tenggara Provincial Government
Pemerintah Provinsi Nusa Tenggara Timur
PT Jasamarga Kunciran Cengkareng
East Nusa Tenggara Provincial Government
Pemerintah Provinsi Sulawesi Barat
PT Jasamarga Manado Bitung
West Sulawesi Provincial Government
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Sifat Hubungan Pihak Berelasi
Nature of Relationship
Hubungan kepemilikan melalui Pemerintah Republik Indonesia
Ownership by the Government of Republic of Indonesia
Pemerintah Provinsi Sulawesi Selatan
PT Jasamarga Probolinggo Banyuwangi
South Sulawesi Provincial Government
Pemerintah Provinsi Sulawesi Tenggara
PT Kereta Api Indonesia (Persero)
Southeast Sulawesi Provincial Government
Pemerintah Provinsi Sulawesi Utara
PT Kereta Commuter Indonesia
North Sulawesi Provincial Government
Pemerintah provinsi Sumatera Selatan
PT Kilang Pertamina Balikpapan QQ HSBC Bank USA NA
South Sumatra Provincial Government
Pemerintah Republik Indonesia
PT Krakatau Bandar Samudera
Government of the Republic of Indonesia
Pemerintah Kotamadya Manado
PT Krakatau Industrial Estate Cilegon
Manado City Government
PT Adhi Jalintim Riau PT Krakatau Sarana Infrastruktur
PT Adhi Karya (Persero) Tbk PT Krakatau Sarana Properti
PT Air Bersih Jakarta PT Krakatau Steel
PT Angkasa Pura I (Persero) PT Krakatau Tirta Industri
PT Angkasa Pura II (Persero) PT Len Telekomunikasi Indonesia
PT Bank Jabar Banten Tbk PT Mandiri Manajemen Investasi
PT Bank Mandiri (Persero) Tbk PT Mandiri Manajemen Investasi
PT Bank Mandiri Taspen Pos PT Marga Sarana Jabar
PT Bank Nagari PT Nindya Karya (Persero)
PT Bank Negara Indonesia (Persero) Tbk PT Pejagan Pemalang Tol Road
PT Bank Pembangunan Daerah Djakarta Raya PT Pelabuhan Indonesia II (Persero)
PT Bank Pembangunan Daerah Jawa Barat dan Banten Tbk PT Pelabuhan Indonesia IV (Persero)
PT Bank Riau Kepri Syariah (Perseroda) PT Pelabuhan Tegar Indonesia
PT Bank Pembangunan Daerah Sulawesi Utara Gorontalo PT Pemalang Batang Toll Road
PT Bank Pembangunan Daerah Sumatera Utara PT Pembangunan Perumahan Krakatau Tirta
PT Bank Rakyat Indonesia (Persero) Tbk PT Pembangunan Perumahan Semarang Demak
PT Bank Syariah Indonesia (Persero) Tbk PT Pembangunan Perumahan Tirta Madani
PT Bank Syariah Nasional (dh.PT Bank Tabungan Negara Syariah
PT Pembangunan Perumahan Tirta Tanah Merah
(Persero) Tbk)
PT Bank Tabungan Negara (Persero) Tbk PT Permodalan Nasional Madani (Persero)
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
PT Brantas Abipraya (Persero) PT Pertamina (Persero)
PT Brantas Cakrawala Energi PT Pertamina Hulu Energi
PT Brantas Hidro Energi PT Pertamina International Shipping
PT Brantas Mahalona Energi PT Perusahaan Listrik Negara (Persero)
PT Brantas Prospek Energi PT PP (Persero ) Tbk
PT Brantas Prospek Mandiri PT PP Semarang Demak
PT Brantas Total Energi PT Raisan Energi Indonesia
PT Sinergi Gula Nusantara
PT BRI Manajemen Investasi
(d/h PT Perkebunan Nusantara XI)
PT Cibitung Tanjung Priok Port Tollways PT Telekomunikasi Indonesia (Persero) Tbk
PT Cimanggis Cibitung Tollways PT Telkom Satelit Indonesia
PT Cinere Serpong Jaya PT Trans Bumi Serbaraja
PT Danareksa (Persero) PT Trans Jabar Tol
PT Dumai Tirta Persada PT Trans Jawa Paspro Jalan Tol
337
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Sifat Hubungan Pihak Berelasi
Nature of Relationship
Hubungan kepemilikan melalui Pemerintah Republik Indonesia
Ownership by the Government of Republic of Indonesia
PT Geo Dipa Energi (Persero) PT Waskita Bumi Wira
PT Hutama Karya (Persero) PT Waskita Sriwijaya Tol
PT Hutama Mambelim Trans Papua PT Wijaya Karya (Persero) Tbk
PT Hutama Panorama Sitinjau Lauik PT Wijaya Karya Serang Panimbang
PT Indonesia Infrastructure Finance PT Wika Tirta Jaya Jatiluhur
Rumah Sakit Pusat Otak Nasional
PT Industri Kereta Api (Persero)
National Brain Center Hospital
Taman Wisata Candi Borobudur Prambanan & Ratu Boko
PT Jalintim Adhi Abipraya
Borobudur, Prambanan & Ratu Boko Temple Tourism Park
PT Jasa Marga (Persero) Tbk
PT Jasa Sarana
PT Jasa Semesta Utama
Pengendalian Bersama Hubungan pengendalian kegiatan Perusahaan
Jointly controlled entity Control in the Company’s activities
PT Indonesia Infrastructure Finance
Personil Manajemen Kunci
PT Cimanggis CIbitung Tollways (Dewan Komisaris. Direksi dan Kepala Divisi)
PT Cinere Serpong Jaya Key Management Personnels
(Board of Commissioners. Directors and Head of Division)
PT Trans Jabar Toll
KEWAJARAN TRANSAKSI ARM’S LENGTH NATURE
TRANSACTIONS
Pelaksanaan transaksi dengan pihak berelasi senantiasa Transactions with related parties are consistently
mengikuti prinsip kewajaran (Arm’s Length Principle) guna conducted in accordance with the Arm’s Length Principle
memastikan bahwa seluruh keputusan dan persyaratan to ensure that all decisions and transaction terms reflect
transaksi mencerminkan kepentingan terbaik Perseroan. the best interests of the Company. Each transaction is
Setiap transaksi juga dijalankan berdasarkan standar also carried out in compliance with applicable standards,
kepatuhan yang berlaku, mematuhi ketentuan peraturan adheres to prevailing laws and regulations, and is
perundang-undangan, serta dijaga agar terbebas dari managed to avoid potential conflicts of interest.
potensi konflik kepentingan.
Dengan demikian, PT SMI memastikan integritas, Accordingly, PT SMI ensures integrity, transparency, and
transparansi, dan akuntabilitas dalam hubungan serta accountability in its relationships and transactions with
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
transaksi dengan pihak-pihak berelasi. related parties.
ALASAN DILAKUKANNYA REASON FOR TRANSACTIONS
TRANSAKSI
Keterlibatan Perseroan dalam transaksi dengan pihak- The Company’s involvement in transactions with related
pihak berelasi didasarkan pada pertimbangan bisnis parties is based on business considerations consistent
yang sejalan dengan transaksi yang dilakukan dengan with those applied to transactions with third parties. Each
pihak ketiga. Setiap transaksi tersebut diarahkan untuk transaction is intended to support operational continuity
mendukung kelancaran operasional serta mendorong and promote the Company’s sustainable business
pengembangan usaha Perseroan secara berkelanjutan. development.
Dengan mempertahankan prinsip profesionalisme By upholding the principles of professionalism and
dan objektivitas, PT SMI memastikan bahwa transaksi objectivity, PT SMI ensures that transactions with related
dengan pihak berelasi dilakukan semata-mata untuk parties are conducted solely to meet strategic and
memenuhi kebutuhan strategis dan operasional, tanpa operational needs, without compromising transparency
mengurangi aspek transparansi maupun kepatuhan or compliance with applicable regulations.
terhadap ketentuan yang berlaku.
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REALISASI TRANSAKSI REALIZATION OF RELATED
PIHAK BERELASI PARTY TRANSACTIONS
Adapun rincian realisasi transaksi berelasi dalam kurun The realization of related party transactions over the last
waktu 2 (dua) tahun terakhir adalah sebagai berikut: two (2) years is as follows:
dalam juta Rupiah
in IDR million
Pertumbuhan/ (Penurunan)
Uraian Increase/(Decrease)
2025 2024
Description Selisih
%
Difference
Kas dan Setara Kas
10.301.716 9.317.010 984.706 10,57%
Cash and Cash Equivalents
Dana Dibatasi Penggunaannya
1.257.929 818.201 439.729 53,74%
Restricted Funds
Efek-Efek
10.983.114 10.216.928 766.186 7,50%
Securities
Pinjaman Diberikan dan Pembiayaan
Syariah
62.502.857 64.534.816 (2.031.959) -3,15%
Loan receivables and sharia
financing
Piutang atas Penugasan Fasilitasi
Penyiapan Proyek
53.742 61.623 (7.880) -12,79%
Receivables from Assignment for
Facilitation on Project Preparation
Pendapatan masih harus diterima
3.997.198 3.238.611 758.587 23,42%
Accrued Income
Penyertaan Saham
3.894.733 3.844.255 50.478 1,31%
Investment in Shares
Uang muka investasi
- 1.594.587 (1.594.587) -100,00%
Investment in advance
Pinjaman Diterima dari Bank dan
Lembaga Keuangan Lainnya
4.500.000 8.000.000 (3.500.000) -43,75%
Loans received from banks and other
financial institution
Pinjaman diterima dari Pemerintah
Republik Indonesia
23.171.345 25.047.725 (1.876.380) -7,49%
Borrowings from the Government of
Republic of Indonesia
Beban akrual
209.387 243.767 (34.380) -14,10%
Accrued expenses
Pendapatan diterima dimuka
23.378 34.987 34.987 -33,18%
Unearned revenue
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
KEBIJAKAN MEKANISME POLICY ON REVIEW MECHANISM
REVIEW ATAS TRANSAKSI FOR TRANSACTION AND
DAN PEMENUHAN PERATURAN COMPLIANCE WITH RELEVANT
DAN KETENTUAN TERKAIT REGULATIONS AND PROVISIONS
Dalam menjamin integritas dan transparansi dalam To ensure integrity and transparency in all business
setiap aktivitas usaha, PT SMI menerapkan prosedur activities, PT SMI implements adequate procedures
yang memadai dalam pelaksanaan seluruh transaksi. in the execution of all transactions. Each transaction
Setiap transaksi juga dijalankan berdasarkan prinsip is carried out based on the arm’s length principle and
kewajaran (arm’s length principle) dan mengikuti follows normal commercial terms, ensuring that business
persyaratan komersial normal, sehingga memastikan decisions are made objectively and in line with sound
bahwa keputusan bisnis diambil secara objektif dan market practices.
sesuai dengan praktik pasar yang sehat.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Perseroan juga memiliki kebijakan khusus yang mengatur The Company also has specific policies governing
transaksi material yang berpotensi menimbulkan material transactions that may give rise to conflicts of
benturan kepentingan maupun transaksi dengan pihak interest, as well as transactions with affiliated/related
afiliasi/pihak berelasi. Lebih jauh, seluruh transaksi parties. Furthermore, all such transactions are conducted
tersebut dilaksanakan dengan mengedepankan prinsip with due prudence and in full compliance with Regulation
kehati-hatian dan sepenuhnya mematuhi ketentuan of the Financial Services Authority No. 42/POJK.04/2020
Peraturan OJK No. 42/POJK.04/2020 tentang Transaksi concerning Affiliated Transactions and Conflict of Interest
Afiliasi dan Transaksi Benturan Kepentingan, serta standar Transactions, as well as the standards set out in PSAK 224
yang tercantum dalam PSAK 224 tentang Pengungkapan concerning Related Party Disclosures.
Pihak-Pihak Berelasi.
Sebagai bagian dari tata kelola yang baik, transaksi As part of good corporate governance, material
material yang berpotensi melibatkan benturan transactions that may involve conflicts of interest or
kepentingan maupun pihak berelasi menjalani proses related parties are subject to rigorous audit processes by
audit yang ketat oleh Komite Audit. Hasil evaluasi tersebut the Audit Committee. The results of these evaluations are
kemudian disampaikan kepada Dewan Komisaris sebagai then reported to the Board of Commissioners to support
dasar pengawasan dan pengambilan keputusan yang effective oversight and informed decision-making.
lebih terinformasi.
PERNYATAAN DIREKSI TERKAIT STATEMENT OF THE BOARD
TRANSAKSI AFILIASI OF DIRECTORS RELATED TO
AFFILIATED TRANSACTIONS
Transaksi antara Perseroan dan Badan Usaha Milik Transactions between the Company and State-Owned
Negara (BUMN) dikategorikan sebagai transaksi Enterprises (SOEs) are classified as related party
dengan pihak berelasi sesuai dengan ketentuan PSAK transactions in accordance with PSAK 224 concerning
224 tentang Pengungkapan Pihak-Pihak Berelasi. Related Party Disclosures. This classification ensures that
Klasifikasi ini memastikan bahwa setiap interaksi bisnis all business interactions involving SOEs are conducted
yang melibatkan BUMN dijalankan dengan tingkat with a level of transparency and oversight consistent
transparansi dan pengawasan yang sejalan dengan with financial reporting standards.
standar pelaporan keuangan.
Dalam memastikan kepatuhan dan objektivitas, To ensure compliance and objectivity, the Board of
Direksi bertanggung jawab mengawasi bahwa seluruh Directors is responsible for overseeing that all affiliated
transaksi afiliasi telah melalui prosedur yang memadai transactions have undergone adequate procedures and
serta dilaksanakan sesuai praktik bisnis yang berlaku are executed in accordance with generally accepted
umum. Penerapan prinsip transaksi yang wajar (arm’s- business practices. The application of the arm’s length
length principle) menjadi pedoman utama agar setiap principle serves as the primary guideline to ensure that all
persyaratan mencerminkan profesionalisme dan tidak terms reflect professionalism and do not result in undue
menimbulkan keuntungan tidak semestinya bagi pihak advantage for any related party.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
terkait.
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PERAN DEWAN KOMISARIS ROLE OF THE BOARD OF
DAN KOMITE AUDIT TERKAIT COMMISSIONERS AND
TRANSAKSI AFILIASI THE AUDIT COMMITTEE IN
AFFILIATED TRANSACTIONS
Penilaian kewajaran serta kepatuhan terhadap ketentuan The assessment of fairness and compliance with
yang mengatur transaksi dengan pihak berelasi regulations governing related party transactions is
dilaksanakan melalui rangkaian reviu dan audit yang conducted through a series of reviews and audits
dilakukan oleh auditor internal maupun eksternal. Seluruh performed by both internal and external auditors. All
transaksi tersebut telah dijalankan sesuai dengan such transactions have been carried out in accordance
ketentuan PSAK No. 224 tentang Pengungkapan Pihak- with PSAK 224 on Related Party Disclosures, ensuring that
Pihak Berelasi, sehingga memastikan bahwa transparansi transparency and integrity of information are maintained.
dan integritas informasi tetap terjaga.
Transaksi material di PT SMI yang berpotensi menimbulkan Material transactions at PT SMI that may give rise
benturan kepentingan maupun yang melibatkan pihak to conflicts of interest or involve related parties are
berelasi dievaluasi melalui proses audit oleh Komite evaluated through audit processes conducted by the
Audit. Adapun hasil pemeriksaan tersebut kemudian Audit Committee. The results of these assessments are
akan disampaikan kepada Dewan Komisaris. subsequently reported to the Board of Commissioners.
PEMENUHAN PERATURAN TERKAIT COMPLIANCE WITH RELEVANT
REGULATIONS
Sepanjang tahun 2025, Perseroan tidak menemukan Throughout 2025, the Company did not identify any
adanya pelanggaran terhadap ketentuan peraturan violations of laws and regulations governing related party
perundang-undangan yang mengatur transaksi dengan transactions. All material transactions and balances
pihak berelasi. Seluruh transaksi dan saldo material yang involving related parties have been fully disclosed in the
melibatkan pihak-pihak berelasi telah diungkapkan notes to the financial statements, with details presented
secara lengkap pada catatan atas laporan keuangan, transparently in the Financial Statements.
dengan rincian yang tersaji secara transparan dalam
Laporan Keuangan.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
INFORMASI KEUANGAN YANG
MENGANDUNG KEJADIAN YANG BERSIFAT
LUAR BIASA DAN JARANG TERJADI
FINANCIAL INFORMATION CONTAINING
EXTRAORDINARY AND RARE EVENTS
Hingga akhir tahun 2025, tidak terdapat Informasi As of the end of 2025, there were no financial information
keuangan yang mengandung kejadian yang bersifat containing extraordinary and rare events.
luar biasa dan jarang terjadi
DAMPAK PERUBAHAN HARGA
TERHADAP PENDAPATAN
IMPACT OF PRICE CHANGES ON REVENUE
Pada tahun 2025, tidak terdapat perubahan harga dari In 2025, there were no changes in the prices of PT SMI’s
jasa dan layanan PT SMI. services and offerings.
INFORMASI DAN FAKTA MATERIAL
YANG TERJADI SETELAH TANGGAL
LAPORAN AKUNTAN
MATERIAL INFORMATION AND FACTS SUBSEQUENT
TO THE ACCOUNTANT REPORT’S DATE
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Tidak terdapat informasi dan fakta material yang terjadi There were no material information or events occurring
di PT SMI setelah tanggal laporan akuntan. at PT SMI subsequent to the accountant report’s date.
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PERUBAHAN PERATURAN PERUNDANG-
UNDANGAN YANG BERDAMPAK TERHADAP
PERSEROAN PADA TAHUN BUKU TERAKHIR
CHANGES IN LAWS AND REGULATIONS AFFECTING
THE COMPANY IN THE LAST FISCAL YEAR
Dalam upaya menjaga keselarasan antara operasional In maintaining alignment between the Company’s
Perseroan dan ketentuan hukum yang berlaku, kepatuhan operations and applicable legal requirements,
terhadap peraturan perundang-undangan menjadi compliance with laws and regulations remains a top
prioritas utama dalam setiap aspek kegiatan usaha. priority across all aspects of its business activities. The
Perseroan secara proaktif memantau berbagai Company proactively monitors regulatory developments
pembaruan regulasi guna memastikan bahwa setiap to ensure that any changes can be promptly adopted and
perubahan dapat segera diadopsi dan diterapkan secara effectively implemented in relevant business processes.
tepat pada proses bisnis yang relevan.
Sepanjang tahun 2025, terdapat sejumlah perubahan Throughout 2025, several regulatory changes had an
peraturan perundang-undangan yang memberikan impact on the Company. The details of these changes
dampak terhadap Perseroan. Rincian perubahan tersebut are presented as follows:
disajikan sebagai berikut.
Tabel Perubahan Peraturan Perundang-undangan yang Berdampak terhadap Perseroan
Table of Changes in Laws and Regulations Affecting the Company
Perubahan Peraturan
Penjelasan Dampak terhadap Perseroan
Perundang-undangan Explanation Impact on the Company
Changes in Laws and Regulations
Undang-Undang Nomor 1 Tahun 2025 UU 1/2025 merupakan perubahan atas • PT SMI tunduk pada definisi BUMN
tentang Perubahan Ketiga atas Undang- Undang-Undang Nomor 19 Tahun 2003 sebagaimana diatur dalam UU BUMN
Undang Nomor 19 Tahun 2003 tentang Badan tentang Badan Usaha Milik Negara (“UU dikarenakan sahamnya 100% (seratus
Usaha Milik Negara (“UU 1/2025”) BUMN”), dimana dengan adanya UU persen) milik negara;
Law No. 1 of 2025 concerning the Third 1/2025 ini terjadi perubahan struktur • Terdapat perubahan ketentuan
Amendment to Law No. 19 of 2003 concerning pengelolaan Badan Usaha Milik Negara penugasan kepada BUMN;
State-Owned Enterprises (“UU 1/2025”) secara umum. • Terdapat ketentuan penyelesaian
Law No. 1 of 2025 constitutes an sengketa di antara BUMN harus
amendment to Law No. 19 of 2003 diselesaikan melalui mediasi.
concerning State-Owned Enterprises (“UU • PT SMI falls under the definition of an
BUMN”), under which there are changes to SOE as stipulated in UU BUMN, as 100%
the overall governance structure of State- (one hundred percent) of its shares
Owned Enterprises. are owned by the State; PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
• There are changes to the provisions
regarding assignments to SOEs;
• There is a provision that disputes
among SOEs must be resolved
through mediation.
Undang-Undang Nomor 16 Tahun 2025 UU 16/2025 merupakan perubahan atas Pengelolaan BUMN secara umum dikelola
tentang Perubahan Keempat atas Undang- Undang-Undang Nomor 19 Tahun 2003 oleh BP BUMN dan Danantara, namun
Undang Nomor 19 Tahun 2003 tentang Badan tentang Badan Usaha Milik Negara (“UU hal tersebut dikecualikan apabila BUMN
Usaha Milik Negara (“UU 16/2025”) BUMN”), dimana dengan adanya UU tersebut ditetapkan sebagai BUMN Alat
Law No. 16 of 2025 concerning the Fourth 16/2025 ini terdapat pengecualian khusus Fiskal.
Amendment to Law No. 19 of 2003 concerning bagi pengelolaan BUMN Alat Fiskal. In general, SOEs are managed by BP
State-Owned Enterprises (“UU 16/2025”) Law No. 16 of 2025 constitutes an BUMN and Danantara; however, this does
amendment to Law No. 19 of 2003 not apply to SOEs designated as Fiscal
concerning State-Owned Enterprises (“UU Instrument SOEs.
BUMN”), introducing a specific exception
for the governance of SOEs designated as
fiscal instruments.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Tabel Perubahan Peraturan Perundang-undangan yang Berdampak terhadap Perseroan
Table of Changes in Laws and Regulations Affecting the Company
Perubahan Peraturan
Penjelasan Dampak terhadap Perseroan
Perundang-undangan Explanation Impact on the Company
Changes in Laws and Regulations
Peraturan Menteri Keuangan Nomor 5 PMK 5/2025 merupakan peraturan yang • Terdapat Penjaminan Pemerintah
Tahun 2025 tentang Tata Cara Pemberian mengatur antara lain terkait mekanisme terhadap risiko gagal bayar pada
dan Pelaksanaan Penjaminan Pemerintah pemberian penjaminan pemerintah untuk Proyek Transisi Energi yang dibiayai
serta Penanggungan Risiko dalam Rangka transisi energi dan penanggungan risiko oleh PT SMI selaku penerima
Percepatan Pengembangan Energi sehubungan dengan pengembangan penugasan Manajer Platform Transisi
Terbarukan untuk Penyediaan Tenaga Listrik panas bumi. Energi;
(“PMK 5/2025”) Regulation of the Minister of Finance No. • Terdapat Penanggungan Risiko dari
Regulation of the Minister of Finance 5 of 2025 regulates, among others, the Pemerintah terhadap risiko eksplorasi
No. 5 of 2025 concerning Procedures mechanisms for providing government dan/atau risiko politik yang timbul
for the Provision and Implementation of guarantees for energy transition and dalam aktivitas Dukungan Eksplorasi
Government Guarantees and Risk Sharing risk-sharing arrangements in relation to dan Pembiayaan Eksplorasi yang
in the Acceleration of Renewable Energy geothermal development. didanai oleh PT SMI selaku penerima
Development for Electricity Supply (“PMK penugasan pengelola Dana PISP.
5/2025”) • The Government provides guarantees
against default risk for Energy
Transition Projects financed by PT
SMI in its capacity as the appointed
Energy Transition Platform Manager;
• The Government provides risk-
sharing support for exploration and/or
political risks arising from Exploration
Support and Exploration Financing
activities funded by PT SMI as the
appointed manager of the PISP Fund.
Peraturan Otoritas Jasa Keuangan Nomor POJK 42/2025 mengatur kewajiban Berlakunya Kewajiban PT SMI untuk
42 Tahun 2025 tentang Integritas Pelaporan Lembaga Pembiayaan, Perusahaan Menyampaikan Surat Pernyataan Direksi,
Keuangan Lembaga Pembiayaan, Modal Ventura, Lembaga Keuangan Laporan Pengendalian Internal dan Hasil
Perusahaan Modal Ventura, Lembaga Mikro dan Lembaga Jasa Keuangan Pengawasan Dewan Komisaris terkait
Keuangan Mikro dan Lembaga Jasa Lainnya untuk memiliki proses pelaporan Integritas Pelaporan Keuangan Lembaga
Keuangan Lainnya (“POJK 42/2025”) keuangan melalui penguatan penerapan Pembiayaan, Perusahaan Modal Ventura,
Regulation of the Financial Services Authority tata kelola dan pengendalian internal Lembaga Keuangan Mikro dan Lembaga
No. 42 of 2025 concerning the Integrity of dalam proses pelaporan keuangan. Jasa Keuangan Lainnya kepada Otoritas
Financial Reporting for Financing Institutions, Regulation of the Financial Services Jasa Keuangan
Venture Capital Companies, Microfinance Authority No. 42 of 2025 requires Financing PT SMI is required to submit a Statement
Institutions, and Other Financial Services Institutions, Venture Capital Companies, Letter of the Board of Directors, Internal
Institutions (“POJK 42/2025”) Microfinance Institutions, and Other Control Report, and Supervisory Report of
Financial Services Institutions to establish the Board of Commissioners regarding
robust financial reporting processes the integrity of financial reporting to the
through strengthened governance and Financial Services Authority.
internal controls.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
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PERUBAHAN KEBIJAKAN AKUNTANSI
YANG DITERAPKAN PERSEROAN
PADA TAHUN BUKU TERAKHIR
CHANGES IN ACCOUNTING POLICY IMPLEMENTED
BY THE COMPANY IN THE LAST FISCAL YEAR
Dalam rangka memastikan tata kelola pelaporan To ensure transparent financial reporting governance in
keuangan yang transparan dan sesuai ketentuan, compliance with applicable regulations, the Company
Perseroan menerapkan kebijakan akuntansi yang adopts accounting policies based on Financial
berlandaskan pada Standar Akuntansi Keuangan Accounting Standards (SAK) issued by the Financial
(SAK) yang ditetapkan oleh Dewan Standar Akuntansi Accounting Standards Board of the Indonesian Institute
Keuangan - Ikatan Akuntan Indonesia (DSAK-IAI). Adapun of Accountants (DSAK-IAI). Any updates or adjustments to
setiap pembaruan atau penyesuaian kebijakan akuntansi these accounting policies are implemented in accordance
diimplementasikan mengikuti ketentuan yang diatur with the respective standards and their interpretations,
dalam masing-masing standar dan interpretasinya, thereby maintaining PT SMI’s consistency and compliance
sehingga konsistensi dan kepatuhan PT SMI terhadap with regulatory requirements.
regulasi selalu terjaga.
Penjelasan berikut menguraikan perubahan kebijakan The following section outlines the changes in accounting
akuntansi yang berlaku pada tahun 2025 beserta policies applicable in 2025, along with their implications
implikasinya terhadap kinerja Perseroan dan penyajian for the Company’s performance and the presentation of
Laporan Keuangan. its Financial Statements.
Tabel Kebijakan Akuntansi yang Berdampak terhadap Perseroan
Table of Accounting Policies Impacting the Company
Dampak terhadap Perseroan atau
Perubahan Kebijakan Akuntansi Penjelasan Laporan Keuangan
Changes in Accounting Policies Description Impact on the Company or Financial
Statements
Amandemen PSAK 221 ini memperjelas
pengaturan terkait kondisi ketika
suatu mata uang tidak tertukarkan
(menilai ketertukaran mata uang saat
ekonomi memburuk akibat hiperinflasi
PSAK 201, Penyajian Laporan Keuangan
dan kurs yang digunakan) serta
tentang Liabilitas Jangka Panjang dengan
Pengungkapannya.
Kovenan
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
The amendment to PSAK 221 clarifies
PSAK 201: Presentation of Financial N/A
the treatment of situations where a
Statements – Long-term Liabilities with
currency is not exchangeable, including
Covenants
the assessment of exchangeability in
deteriorating economic conditions (such
as hyperinflation) and the determination
of the applicable exchange rate, as well
as the related disclosures.
Tujuan keseluruhan dari PSAK 117
adalah untuk menyediakan model
akuntansi untuk kontrak asuransi yang
Amandemen PSAK 117: Kontrak Asuransi
lebih bermanfaat dan konsisten untuk
Amendments to PSAK 117: Insurance
asuradur. N/A
Contracts
The overall objective of PSAK 117 is to
provide a more useful and consistent
accounting model for insurance contracts
for insurers.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Tabel Kebijakan Akuntansi yang Berdampak terhadap Perseroan
Table of Accounting Policies Impacting the Company
Dampak terhadap Perseroan atau
Perubahan Kebijakan Akuntansi Penjelasan Laporan Keuangan
Changes in Accounting Policies Description Impact on the Company or Financial
Statements
SAK Entitas Privat ditujukan untuk
digunakan oleh entitas yang tidak: 1)
memiliki akuntabilitas publik dan 2)
menerbitkan laporan keuangan untuk
tujuan umum (general purpose financial
statements) bagi pengguna eksternal.
Namun demikian, entitas yang memiliki
akuntabilitas publik dapat menggunakan
SAK Indonesia untuk Entitas Privat SAK Entitas Privat jika otoritas berwenang
Indonesian Financial Accounting Standards regulasi yang mengizinkan penggunaan N/A
(SAK) for Private Entities SAK Entitas Privat.
SAK for Private Entities is intended for
entities that: (1) do not have public
accountability, and (2) do not issue
general purpose financial statements
for external users. However, entities with
public accountability may apply SAK for
Private Entities if permitted by the relevant
regulatory authority.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
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TINJAUAN PENDUKUNG BISNIS
BUSINESS SUPPORT REVIEW
Peran Sumber Daya Manusia (SDM) memegang posisi The role of Human Capital is strategic in supporting the
strategis dalam mendukung pencapaian target, visi, achievement of the Company’s targets, vision, mission,
misi, serta nilai-nilai Perseroan. Pada tahun 2025, Divisi and values. In 2025, the Human Capital Division is
SDM diposisikan sebagai partner bisnis yang strategis positioned as both a strategic business partner and
sekaligus pengelola perubahan, yang berperan aktif a change agent, actively supporting the Company
dalam membantu Perseroan beradaptasi terhadap in adapting to a dynamic business environment and
dinamika lingkungan usaha serta meningkatkan kinerja enhancing organizational performance on a sustainable
organisasi secara berkelanjutan. Pengelolaan SDM yang basis. Effective HC management serves as a key
optimal menjadi fondasi penting dalam menopang foundation for sustaining and growing the business amid
keberlangsungan dan pertumbuhan bisnis di tengah ongoing transformation.
proses transformasi yang terus berlangsung.
Sejalan dengan hal tersebut, pengelolaan SDM di In line with this, Human Capital management within the
Perseroan dilaksanakan dengan menjunjung prinsip Company is carried out based on principles of fairness,
keadilan, tanggung jawab, dan tata kelola yang baik, responsibility, and good governance, covering the entire
mencakup seluruh tahapan mulai dari proses rekrutmen, employee lifecycle—from recruitment processes, fostering
penciptaan lingkungan kerja yang inklusif dan kondusif, an inclusive and conducive work environment, to providing
hingga penyediaan kesempatan pengembangan karier. career development opportunities. Enhancing employee
Peningkatan kompetensi karyawan menjadi fokus utama, competencies remains a key priority, encompassing both
baik melalui penguatan keterampilan teknis maupun technical and soft skills, including training aligned with
soft skill, termasuk pelatihan yang mendukung agenda organizational transformation agendas and Company
perubahan organisasi dan selaras dengan kebijakan policies such as gender equality, anti-corruption and
Perseroan, seperti kesetaraan gender, anti korupsi dan anti-bribery, and information security. These efforts
anti penyuapan, serta keamanan informasi. Upaya are further reinforced through the development of a
tersebut diperkuat dengan pengembangan budaya collaborative and innovative work culture to improve
kerja yang kolaboratif dan inovatif guna meningkatkan employee engagement and productivity.
keterlibatan serta produktivitas karyawan.
Dalam mendukung kinerja dan keterlibatan karyawan, To support employee performance and engagement,
Perseroan juga mengelola aspek remunerasi the Company also manages remuneration and welfare
dan kesejahteraan secara berkelanjutan dengan sustainably by upholding principles of fairness and
mengedepankan prinsip keadilan dan kesetaraan gender equality. This approach aims to create a fair,
gender. Pendekatan ini bertujuan untuk menciptakan healthy, and performance-driven work environment while
lingkungan kerja yang adil, sehat, dan mendukung kinerja, strengthening employee trust in the Company. PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
sekaligus memperkuat kepercayaan karyawan terhadap
Perseroan.
Ke depan, PT SMI terus memperkuat peran Divisi SDM Looking ahead, PT SMI continues to strengthen the role
sebagai partner bisnis dan pengembang talenta yang of the Human Capital Division as a strategic business
berfokus pada penyiapan sumber daya manusia yang partner and talent developer, focusing on preparing a
kompeten, adaptif, dan selaras dengan kebutuhan bisnis. competent, adaptive workforce aligned with business
Berbagai inisiatif strategis diarahkan tidak hanya pada needs. Various strategic initiatives are directed not only
pengembangan kompetensi dan kesejahteraan, tetapi at competency development and employee well-being,
juga pada pembentukan mentalitas kepemimpinan, but also at fostering leadership mindset, enhancing
peningkatan kelincahan organisasi, serta kesiapan organizational agility, and ensuring workforce readiness
SDM dalam menghadapi tantangan masa depan. to face future challenges. Through this approach, the
Melalui pendekatan tersebut, Perseroan optimis dapat Company is confident in strengthening competitiveness,
memperkuat daya saing, meningkatkan produktivitas, improving productivity, and accelerating sustainable
dan mendorong akselerasi kinerja secara berkelanjutan performance amid an increasingly competitive and
di tengah lingkungan usaha yang semakin kompetitif dynamic business environment.
dan dinamis.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Pengelolaan Sumber Daya Manusia Human Capital Management
Perseroan mengelola Sumber Daya Manusia (SDM) The Company manages Human Capital in an integrated
secara terintegrasi untuk memastikan ketersediaan manner to ensure the availability of competent, high-
talenta yang kompeten, berintegritas, dan selaras integrity talent aligned with its strategic direction.
dengan arah strategis Perseroan. Pengelolaan SDM HC management is implemented through workforce
dilaksanakan melalui perencanaan kebutuhan tenaga planning, organizational structuring, and the continuous
kerja, pengaturan struktur organisasi, serta pengelolaan management of roles, competencies, and performance.
jabatan, kompetensi, dan kinerja secara berkelanjutan.
Dalam rangka memenuhi kebutuhan organisasi, To meet organizational needs, the Company conducts
Perseroan melaksanakan proses rekrutmen dan seleksi recruitment and selection processes that are objective
secara objektif dan transparan, yang diikuti dengan and transparent, followed by orientation programs to
program orientasi guna mendukung adaptasi karyawan support new employees’ adaptation to the Company’s
baru terhadap budaya dan tata kerja Perseroan. culture and ways of working.
Pengembangan kualitas SDM dilakukan melalui berbagai Employee development is carried out through various
program pembelajaran dan pengembangan, antara learning and development programs, including training,
lain pelatihan, pembelajaran digital melalui Learning digital learning through a Learning Management System
Management System (LMS), coaching dan mentoring, (LMS), coaching and mentoring, as well as leadership and
serta program pengembangan kepemimpinan dan career development programs. These initiatives aim to
karier. Upaya ini ditujukan untuk meningkatkan kapabilitas enhance individual capabilities while strengthening talent
individu sekaligus memperkuat kesiapan talenta dalam readiness to support business sustainability.
mendukung keberlanjutan bisnis Perseroan.
Selain itu, Perseroan menerapkan sistem manajemen In addition, the Company implements a performance
kinerja yang selaras dengan sasaran strategis management system aligned with its strategic objectives,
perusahaan, menjaga hubungan kerja yang harmonis, maintains harmonious industrial relations, and provides
serta menyediakan paket remunerasi dan kesejahteraan competitive and equitable remuneration and welfare
yang kompetitif dan berkeadilan. Seluruh pengelolaan packages. All HC management activities are supported
SDM didukung oleh sistem administrasi yang tertib by well-administered systems and full compliance with
dan patuh terhadap ketentuan peraturan perundang- applicable laws and regulations.
undangan yang berlaku.
Perencanaan dan Organisasi SDM Human Capital Planning and Organization
Manpower Planning Manpower Planning
Guna mendukung pencapaian sasaran bisnis, Perseroan To support the achievement of business objectives, the
mengelola struktur organisasi dan jumlah karyawan Company manages its organizational structure and
secara terukur agar selaras dengan strategi serta target workforce size in a measured manner, ensuring alignment
bisnis, baik jangka pendek maupun jangka panjang. with both short-term and long-term strategies and
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Perencanaan tersebut tetap mengedepankan prinsip targets. This planning process emphasizes prudence
kehati-hatian melalui penerapan manajemen risiko, through the application of risk management principles,
antara lain dengan penyusunan Manpower Planning including the preparation of annual Manpower Planning.
secara tahunan.
Pada tahun 2025, penyusunan Manpower Planning In 2025, the Manpower Planning process is based on
berlandaskan pada analisis produktivitas karyawan employee productivity analysis measured through
yang diukur melalui Workload Analysis (WLA). Proses Workload Analysis (WLA). This process involves all
ini melibatkan seluruh unit kerja untuk mengidentifikasi business units to comprehensively identify workforce
kebutuhan tenaga kerja secara komprehensif, mencakup needs, covering recruitment, competency development,
aspek rekrutmen, pengembangan kompetensi, hingga and performance management. Through this approach,
pengelolaan kinerja. Dengan pendekatan tersebut, setiap each approved position is expected to effectively support
formasi yang ditetapkan diharapkan mampu mendukung the implementation of the Company’s business strategy.
implementasi strategi bisnis Perseroan secara optimal. Periodic evaluations are conducted to ensure alignment
Evaluasi dilakukan secara berkala guna memastikan between workforce planning and evolving business
keselarasan antara perencanaan tenaga kerja dan dynamics.
dinamika bisnis yang terus berkembang.
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Struktur Organisasi Organizational Structure
Sejalan dengan pengelolaan SDM yang terstruktur, In line with structured Human Capital management, the
pelaksanaan fungsi pengelolaan SDM didukung oleh implementation of Human Capital functions is supported
struktur organisasi yang jelas dan efektif sebagaimana by a clear and effective organizational structure, as
disajikan pada bagan berikut. illustrated in the following chart.
Kepala Divisi Sumber
Daya Manusia
Head of the Human Capital Division
Franciscus Hasholan T.
Corporate Strategist
Agus Iman Solihin
Team Leader Team Leader
Team Leader Remunerasi Dekan SMI University
Pengelolaan SDM & Perencanaan & Inisiatif
& Sistem Informasi SDM Dean SMI University
Komunikasi Strategis
Team Leader of
Team Leader of HC Team Leader of Planning
Remuneration
Management & & Strategic Initiatives
& HC Information Systems
Communication
Fredy Robiantoro M. Adi Kusuma
Surya Putut Sanjaya Michael Loeris
Penugasan Khusus Perencanaan Strategis,
Remunerasi Karyawan Pengembangan
Special Assignment Rekrutmen & Seleksi Pelaporan & Kepatuhan
Employee Remuneration Kapabilitas SDM
Recruitment and Selection Strategic Planning, Reporting
HC Competency
Monika Dyah Kusuma W. & Compliance
Development
Daya Pandu Aditya Lina Afifah Pritawati
Hery Ferdiansyah Reny America Putri
Arini Mega Puspita Meyda Nur Luthfiani
Pelaksanaan dan Administrasi SDM Jenjang Karir & Pengelolaan Kinerja &
Employee Benefits
Layanan Pembelajaran HC Administration Perencanaan Suksesi Inisiatif Strategis
Employee Benefits
Learning Service Career Path & Succession Performance Management &
& Supporting Eriza Planning Strategic Initiatives
Dedi Supriyatna
Eri Haerumi
Fathur Ghifari Mauijadi Diory Christine P Desi Gustiani (Vacant)
Pembelajaran Digital dan Budaya Perusahaan & Pengembangan
Sistem Informasi SDM
Manajemen Pengetahuan Komunikasi Internal Organisasi
HC Information Systems
Knowledge Management & Corporate Culture & Organizational
Digital Learning Internal Communication Development
Angga Varenys
Aini Utami Rahayu
Andi Ayu Fiddini A. Tsania Fairuz H. Fariz Abdillah
Hubungan Industrial
Kepala Divisi Staf Industrial Relations
Yelsri Syawal
Alex Aprianto Zega
Jabatan
Team Leader
Fungsiaonal PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Rekrutmen dan Seleksi Karyawan Recruitment and Selection
Pengelolaan SDM di Perseroan dilaksanakan secara Human Capital management within the Company is
terintegrasi, mencakup seluruh tahap mulai dari carried out in an integrated manner, covering all stages
perencanaan hingga pengembangan, termasuk proses from planning to development, including recruitment and
rekrutmen dan seleksi karyawan. Pemenuhan kebutuhan selection processes. Workforce fulfillment is conducted
tenaga kerja dijalankan dengan mengedepankan prinsip in accordance with good corporate governance
tata kelola perusahaan yang baik, serta menjunjung tinggi principles, upholding transparency, fairness, equality,
transparansi, kewajaran, kesetaraan, dan akuntabilitas. and accountability. All recruitment stages are managed
Seluruh tahapan rekrutmen dikelola secara efektif dan effectively and efficiently to ensure the acquisition of
efisien guna memastikan perolehan talenta yang sesuai talent aligned with organizational needs.
dengan kebutuhan organisasi.
Pelaksanaan rekrutmen mengacu pada nilai-nilai inti The recruitment process is guided by the Company’s core
Perseroan dan Kamus Kompetensi sebagai landasan values and Competency Dictionary as the foundation
penerapan prinsip hiring the right man for the right place. for applying the principle of hiring the right person for
Guna memastikan proses yang tepat sasaran, Perseroan the right position. To ensure a targeted process, the
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Management Discussion and Analysis
melibatkan divisi terkait secara aktif dalam perencanaan Company actively involves relevant divisions in workforce
kebutuhan posisi dan penetapan kualifikasi. Upaya planning and qualification setting. These efforts are
tersebut diperkuat melalui penerapan berbagai strategi strengthened through various recruitment strategies
rekrutmen dengan memanfaatkan sumber internal utilizing both internal and external sources, as well as
maupun eksternal, serta metode seleksi yang disesuaikan selection methods tailored to the characteristics of each
dengan karakteristik setiap jabatan, sehingga mampu role, thereby supporting the sustainable achievement of
mendukung pencapaian tujuan bisnis Perseroan secara the Company’s business objectives.
berkelanjutan.
Proses Rekrutmen dan Seleksi Internal Internal Recruitment and Selection Process
Pemenuhan kebutuhan tenaga kerja dari internal Manpower requirements are fulfilled internally through
Perseroan dilaksanakan melalui proses rekrutmen dan recruitment and selection processes that leverage existing
seleksi internal yang memanfaatkan potensi karyawan employee potential. This mechanism is implemented
yang telah ada. Mekanisme ini dijalankan melalui through various forms of employee movement and
berbagai skema perpindahan maupun penempatan placement to ensure alignment between individual
ulang karyawan guna memastikan kesesuaian antara competencies and organizational requirements.
kompetensi individu dan kebutuhan organisasi.
Implementasi rekrutmen internal tersebut mencakup The implementation of internal recruitment includes
sejumlah proses perpindahan karyawan di lingkungan several employee movement processes within the
Perseroan, yang antara lain meliputi: Company, such as:
1. Promosi Karyawan, merupakan proses perpindahan 1. Employee Promotion, a process of transferring
karyawan dari suatu jabatan ke jabatan yang lain employees from one position to another where the
di mana job grade pada jabatan yang baru lebih job grade of the new position is higher than that of
tinggi dibandingkan dengan job grade di jabatan the previous position.
yang lama.
2. Mutasi Karyawan, merupakan proses perpindahan 2. Employee Transfer (Mutation), a process of moving
karyawan dari satu unit kerja dari satu divisi ke unit employees from one unit/division to another different
kerja di divisi yang berbeda. division.
3. Rotasi Karyawan, merupakan proses perpindahan 3. Employee Rotation, a process of moving employees
karyawan dari satu unit kerja ke unit kerja yang lain between units within the same division.
dalam satu divisi yang sama.
4. Penempatan di Anak Perusahaan, merupakan suatu 4. Assignment to Subsidiaries, a process of placing
proses pergerakan karyawan dari suatu jabatan ke employees into positions within subsidiaries based
jabatan lain dengan mempertimbangkan kompetensi on their competencies and capabilities, ensuring
dan kapabilitas karyawan sehingga sesuai dengan alignment with job qualifications.
kualifikasi jabatan di Anak Perusahaan Perseroan.
Proses Rekrutmen dan Seleksi Eksternal External Recruitment and Selection Process
Pemenuhan kebutuhan tenaga kerja dari sumber Manpower requirements from external sources are
eksternal dilakukan melalui proses rekrutmen dan seleksi fulfilled through recruitment and selection processes
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
dengan menjaring kandidat dari luar Perseroan. Skema that source candidates from outside the Company. This
ini dilaksanakan melalui dua jalur utama, yaitu fresh approach is carried out through two main channels—
graduate dan experience hire, untuk mengisi posisi staf fresh graduates and experienced hires—to fill both
fungsional maupun struktural. Penetapan rekrutmen functional and structural positions. External recruitment
eksternal mempertimbangkan karakteristik jabatan, decisions consider job characteristics, specific expertise
kebutuhan akan keahlian tertentu, serta ketersediaan requirements, and the availability of candidates with
kandidat dengan kompetensi spesifik yang relevan relevant competencies.
dengan kebutuhan Perseroan.
Pelaksanaan rekrutmen diawali dengan penyampaian Recruitment activities begin with open job vacancy
informasi lowongan kerja secara terbuka guna announcements to attract suitable candidates. These
menjangkau kandidat potensial yang sesuai. Penyebaran are disseminated through various channels, including
informasi dilakukan melalui berbagai saluran, antara lain advertising media, e-recruitment platforms such as
media iklan, platform e-recruitment seperti LinkedIn, Glints, LinkedIn, Glints, and Jobstreet, Campus Hiring programs,
dan Jobstreet, program Campus Hiring, Executive Search Executive Search or Head Hunters, and Referral systems.
atau Head Hunter, serta sistem Referral. Pendekatan This approach aims to broaden the candidate pool while
ini bertujuan untuk memperluas jangkauan kandidat ensuring an effective selection process.
sekaligus memastikan efektivitas proses seleksi.
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Sebagai bagian dari strategi pengembangan talenta, As part of its talent development strategy, the Company
Perseroan juga menyelenggarakan Program Praktik also organizes internship programs for vocational high
Kerja Lapangan (PKL) bagi siswa SMK dan sederajat, school (SMK) students and university students from
serta mahasiswa jenjang S1 hingga S3. Program ini undergraduate to doctoral levels. This program serves
berfungsi sebagai sarana pembelajaran sekaligus both as a learning platform and as a pipeline for potential
menjadi kanal penjaringan calon karyawan potensial. future employees. By providing access to individuals
Melalui pembukaan akses bagi individu dengan beragam from diverse educational and professional backgrounds,
latar belakang pendidikan dan pengalaman, Perseroan the Company reinforces its commitment to building a
menegaskan komitmennya dalam membangun diverse, inclusive, and equitable workplace, offering equal
lingkungan kerja yang beragam, inklusif, dan setara, serta opportunities for all individuals to grow and contribute
memberikan kesempatan yang sama bagi setiap individu optimally.
untuk berkembang dan berkontribusi secara optimal.
Perseroan menjalankan sejumlah inisiatif strategis In 2025, the Company implemented several strategic
di bidang Talent Acquisition pada tahun 2025 guna initiatives in Talent Acquisition to ensure talent availability
memastikan ketersediaan talenta yang selaras dengan aligned with organizational needs and business direction,
kebutuhan organisasi dan arah pengembangan bisnis, including:
antara lain:
1. Optimalisasi platform LinkedIn melalui pemanfaatan 1. Optimization of LinkedIn platform, leveraging features
berbagai fitur pendukung rekrutmen, antara lain such as Life Tab to strengthen employer branding
Life Tab untuk memperkuat employer branding dan and internal communications, AI Talent Support to
komunikasi kegiatan internal Perseroan, AI Talent recommend non-applicant candidates based on
Support untuk merekomendasikan kandidat non- machine learning analysis, InMail for engaging passive
applicant berbasis analisis machine learning, InMail candidates, and AI-assisted search for automated
sebagai sarana komunikasi dengan kandidat pasif candidate sourcing.
atau private user, serta fitur AI-assistant search untuk
mendukung otomatisasi pencarian kandidat.
2. Penguatan dan perluasan kanal rekrutmen, melalui 2. Strengthening and expanding recruitment channels,
pelaksanaan program pemagangan hasil kerja sama including internship programs in collaboration
dengan Fakultas Hukum Universitas Indonesia dan with the Faculty of Law, University of Indonesia and
Ikatan Alumni Universitas Indonesia (ILUNI), yang ILUNI (University of Indonesia Alumni Association),
melengkapi kanal rekrutmen yang telah ada, seperti complementing existing channels such as LinkedIn,
LinkedIn, aplikasi Talenta LPDP, dan portal Kagama the LPDP Talenta application, and Kagama UGM portal.
UGM.
3. Inisiasi pengembangan talenta jangka menengah, 3. Mid-term talent development initiatives, through
melalui kajian program pendidikan bagi karyawan the design of education programs for mid-level
level menengah sebagai bagian dari upaya employees as part of building a sustainable internal
menyiapkan pipeline talenta internal yang talent pipeline.
berkelanjutan.
Sehubungan dengan implementasi inisiatif tersebut, In line with these initiatives, the Company recruited 30
Perseroan telah merekrut 30 (tiga puluh) karyawan baru (thirty) new employees, consisting of 2 (two) Heads of PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
yang terdiri atas 2 (dua) orang Kepala Divisi, 1 (satu) Division, 1 (one) Team Leader, and 27 (twenty-seven)
orang Team Leader dan 27 (dua puluh tujuh) orang staff members. The recruitment process was conducted
staff. Proses perekrutan ini dilaksanakan berdasarkan based on strategic needs and business development
kebutuhan strategis serta rencana pengembangan plans, while upholding gender equality and ensuring
bisnis Perseroan, dengan tetap menjunjung tinggi prinsip no discrimination at any stage of the selection process.
kesetaraan gender dan memastikan tidak adanya praktik
diskriminasi pada setiap tahapan seleksi.
Jumlah Rekrutmen Karyawan Berdasarkan Jenjang Jabatan
Number of Employee Recruitment by Position Level
Jenjang Jabatan
2025 2024 2023
Position Level
Kepala Divisi
2 1 1
Head of Division
Team Leader 1 0 0
Staff 27 49 34
Jumlah 50 35
30
Total
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Jumlah Rekrutmen Karyawan Berdasarkan Gender
Number of Employee Recruitment by Gender
Jenjang Jabatan
2025 2024 2023
Position Level
Pria
16 26 20
Male
Wanita
14 24 15
Female
Jumlah 50 35
30
Total
Pengembangan Kualitas SDM Human Capital Quality Development
Perseroan menempatkan pengembangan kualitas SDM The Company places Human Capital development as
sebagai salah satu prioritas strategis dalam mendukung a strategic priority in supporting sustainable business
pertumbuhan bisnis yang berkelanjutan. Sejalan dengan growth. In line with this commitment, the Company
komitmen tersebut, Perseroan melakukan pengukuran conducts Competency Gap assessments as a basis for
Competency Gap karyawan sebagai dasar dalam formulating targeted and needs-based development
merumuskan arah pengembangan yang tepat dan strategies aligned with actual organizational requirements.
berbasis kebutuhan nyata organisasi.
Pada awal tahun 2025, pengukuran Competency Gap At the beginning of 2025, the Competency Gap
telah dilaksanakan dan menjadi referensi utama dalam assessment was carried out and became the primary
penyusunan Training Need Analysis (TNA). Berdasarkan reference for the preparation of the Training Need Analysis
hasil evaluasi tersebut, Divisi SDM merancang serta (TNA). Based on the evaluation results, the Human
mengimplementasikan program pembelajaran dan Capital Division designed and implemented structured
pengembangan karyawan yang terstruktur dan and continuous employee learning and development
berkesinambungan bagi seluruh jenjang jabatan. programs across all job levels.
Adapun upaya pengembangan dilakukan melalui Development efforts are carried out through various
berbagai inisiatif, antara lain program pelatihan, initiatives, including training programs, secondment,
secondment, serta pemberian beasiswa. Melalui and scholarship schemes. Through this data-driven
pendekatan berbasis data ini, Perseroan dapat approach, the Company is able to map development
memetakan kebutuhan pengembangan secara lebih needs more specifically to enhance capabilities and
spesifik guna meningkatkan kapabilitas dan kesiapan workforce readiness in supporting the achievement of
SDM dalam mendukung pencapaian tujuan organisasi. organizational objectives.
Program Pelatihan Training Programs
Dalam rangka mewujudkan visi dan misi perusahaan, In realizing the Company’s vision and mission, the
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Perseroan menerapkan strategi pengembangan Company adopts a proactive approach to employee
kompetensi karyawan yang bersifat proaktif melalui competency development through structured and
penyelenggaraan program pelatihan yang terstruktur continuous training programs. This approach is based
dan berkelanjutan. Pendekatan ini dilandasi oleh on the recognition that investment in human capital is
kesadaran akan pentingnya investasi pada sumber daya essential to building long-term competitive advantage.
manusia sebagai fondasi untuk membangun keunggulan Through these programs, the Company aims to foster
kompetitif jangka panjang. Melalui program pelatihan a learning environment that encourages continuous
tersebut, Perseroan berupaya menciptakan lingkungan professional competency improvement while ensuring
pembelajaran yang mendorong peningkatan kompetensi employees remain adaptive to evolving business
profesional secara berkesinambungan, sekaligus dynamics.
memastikan kesiapan karyawan agar tetap adaptif
terhadap dinamika bisnis yang terus berkembang.
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Sejalan dengan upaya tersebut, Perseroan memandang In line with these efforts, the Company recognizes the
perlunya sistem yang objektif dan terukur sebagai importance of an objective and measurable system as the
dasar dalam peningkatan kompetensi karyawan. Atas foundation for competency enhancement. Accordingly,
dasar itu, Perseroan telah merancang serta menyusun the Company has developed and established training
kebijakan program pelatihan yang menjadi pedoman program policies as guidelines to ensure consistent
dalam pengembangan kompetensi secara konsisten and well-directed competency development. The
dan terarah. Pelaksanaan program pelatihan karyawan implementation of employee training programs is carried
selanjutnya dilaksanakan melalui skema sebagai berikut: out through the following schemes:
Gap Competency Manager Rating Training Need Training Module &
Analysis Program
PT SMI mengelompokkan 4 (empat) jenis program PT SMI has 4 (four) types of employee training program,
pelatihan untuk karyawan, yaitu: namely:
1. Public Training 1. Public Training
Merupakan program pelatihan Karyawan, meliputi This is an employee training program that includes
keikutsertaan Karyawan pada program seminar, participation in seminars, training sessions, courses,
pelatihan, kursus, lokakarya, workshop, maupun workshops, and conferences organized by external
conference yang diselenggarakan oleh pihak training service providers. These programs are
penyedia jasa pelatihan di luar Perseroan yang structured and verified by the Human Capital Division.
terstruktur dan sudah diverifikasi oleh Divisi Sumber The training may be conducted by both domestic and
Daya Manusia, baik dari lembaga pelatihan dalam international institutions.
negeri maupun luar negeri.
2. In-House Training 2. In-House Training
Merupakan program pelatihan Karyawan yang This is an employee training program organized by the
diselenggarakan oleh Divisi Sumber Daya Manusia Human Capital Division in collaboration with training
dengan bekerja sama dengan penyedia jasa pelatihan providers. This is a structured program to improve
secara terstruktur, dalam rangka meningkatkan employee competency in a comprehensive manner.
kompetensi Karyawan secara menyeluruh, yang Training can be held within or outside the Company’s
pelaksanaannya dapat dilakukan di dalam maupun premise.
di luar Perseroan.
3. Knowledge Sharing 3. Knowledge Sharing
Merupakan program pelatihan karyawan melalui This is an employee training program conducted PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
aktivitas saling memberikan dan bertukar through knowledge and experience sharing among
pengetahuan dan pengalaman kepada seluruh insan all members of the Company. It involves various levels
Perseroan, yang dilakukan oleh seluruh komponen of the organization, including the Board of Directors,
Perseroan baik jajaran Direksi, Kepala Divisi, Team Heads of Division, Team Leaders, and staff. This
Leader, maupun staf, sebagai bentuk pembelajaran initiative serves as a learning platform to enhance
serta membangun kompetensi dan kapasitas employee competencies and capacity development.
karyawan.
4. e-Learning 4. e-Learning
Program pelatihan karyawan yang memungkinkan An employee training program that allows employees
karyawan mengakses kursus, pengajaran, dan materi to access courses, training, and instructional materials
instruksional secara online melalui situs web https://e- online through the website https://e-learning.ptsmi.
learning.ptsmi.co.id/. co.id/.
Progress Pelatihan Periode Januari – Desember 2025
Training Progress for the Period of January – December 2025
6.911 1.828 42.187,8 97,2
Participants Events Total Hours Average Hours
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Program pelatihan yang diselenggarakan sepanjang The training programs conducted throughout 2025
tahun 2025 mencakup beragam topik pengembangan, covered a wide range of development topics, including
antara lain Environmental, Social, & Governance (ESG), Environmental, Social, & Governance (ESG), Soft Skill, and
Soft Skill, dan Technical Skill. Adapun rincian program Technical Skills. The details of training programs related
pelatihan yang terkait dengan agenda transformasi dan to the transformation agenda and ESG implementation
implementasi ESG selama periode pelaporan adalah during the reporting period are as follows
sebagai berikut:
Pelatihan ESG
ESG Training
532 49 3.922,5
Participants Events Total Hours
Pelaksanaan pelatihan Softskill hingga akhir tahun 2025 The implementation of Soft Skills Training as of the end
adalah sebagai berikut: of 2025 is as follows:
Pelatihan Softskill
Softskills Training
2.264 979 7.842,3
Participants Events Total Hours
Pelaksanaan pelatihan terkait Technical Skill hingga akhir The implementation of Technical Skills Training as of the
tahun 2025 adalah sebagai berikut: end of 2025 is as follows:
Pelatihan Technical Skill
Technical Skills Training
4.115 800 30.423
Participants Events Total Hours
Berikut adalah rincian pelaksanaan program pelatihan The following presents the details of training program
berdasarkan jenis pelatihan dan jenjang jabatan: implementation by training type and position level:
Pelaksanaan Program Berdasarkan Jenis Pelatihan Tahun 2025
Program Implementation by Type of Training in 2025
Jumlah Peserta
Total Jam Pelatihan (jam)
Kategori Pelatihan Jumlah Topik Pelatihan Pelatihan (orang)
Total Training Hours
Training Category Number of Training Topics Number of Training
(hour(s))
Participants (person(s))
In-House Training 82 2.782 27.926,6
Public Training 102 2.072 6.877,5
Knowledge Sharing 34 1.726 5.333,7
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
e-learning 1.610 331 2.050
Total Pelaksanaan
Program Pelatihan
1.828 6.911 42.187,8
Total Number of
Training Programs Held
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Pelaksanaan Program Pelatihan Berdasarkan Jenjang Jabatan Tahun 2025
Training Program Implementation by Position Level in 2025
Jumlah Peserta
Total Jam Pelatihan (jam)
Kategori Pelatihan Jumlah Topik Pelatihan Pelatihan (orang)
Total Training Hours
Training Category Number of Training Topics Number of Training
(hour(s))
Participants (person(s))
Kepala Divisi
138 257 2685,2
Head of Division
Team Leader 220 938 8.683,6
Staff 1.749 5.716 30.819
Total Pelaksanaan
Program Pelatihan
1.828 6.911 42.187,8
Total Number of
Training Programs Held
Dalam rangka meningkatkan kepuasan serta kualitas To enhance employee satisfaction and the overall
pengalaman pembelajaran bagi seluruh karyawan, learning experience, the Company, through the Human
Perseroan melalui DSDM menginisiasi pengembangan Capital Division, initiated the development of a Learning
Learning Management System (LMS) pada tahun 2025. Management System (LMS) in 2025. This system enables
Sistem ini memberikan kemudahan bagi karyawan untuk employees to access and participate in various training
mengakses dan mengikuti berbagai program pelatihan programs available on the platform with greater flexibility,
yang tersedia pada platform tersebut secara lebih both in terms of time and location.
fleksibel, baik dari sisi waktu maupun lokasi.
Program Secondment Secondment Program
Dalam rangka meningkatkan kapabilitas teknis dan sosial To strengthen employees’ technical and social
karyawan sekaligus membangun organisasi yang lebih capabilities while fostering a more efficient and open
efisien dan terbuka, Kementerian Keuangan menginisiasi organization, the Ministry of Finance initiated a cross-unit
program secondment lintas unit. Program ini dirancang secondment program. This program is designed as a
sebagai strategi pengembangan kompetensi berbasis collaborative, competency development strategy that
kolaborasi yang memberikan pengalaman pembelajaran provides experiential learning opportunities, broadens
langsung (experiential learning), memperluas paparan job exposure, strengthens business process consolidation
pekerjaan (job exposure), memperkuat konsolidasi across units, and promotes integration and utilization of
proses bisnis antar unit, serta mendorong integrasi big data within the Ministry of Finance.
dan pemanfaatan big data di lingkungan Kementerian
Keuangan.
Sebagai salah satu SMV di bawah Kementerian Keuangan, As one of the Special Mission Vehicles (SMVs) under
Perseroan berperan aktif dalam mendukung pelaksanaan the Ministry of Finance, the Company actively supports
program secondment tersebut. Komitmen ini juga the implementation of this secondment program. This PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
diwujudkan melalui kerja sama dengan World Bank untuk commitment is also reflected through collaboration with
penyelenggaraan program secondment bagi karyawan the World Bank in organizing secondment opportunities
Perseroan di kantor World Bank di Washington, D.C. dan for the Company’s employees at the World Bank offices in
Singapura. Selain itu, Perseroan telah membangun sinergi Washington, D.C. and Singapore. In addition, the Company
pengembangan dan pelatihan dengan SMV lainnya has established synergies in development and training
serta terus menjajaki peluang kerja sama secondment with other SMVs and continues to explore secondment
dengan Asian Development Bank dan lembaga keuangan partnerships with the Asian Development Bank and other
internasional lainnya. international financial institutions.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Pada tahun 2025, sebanyak 2 (dua) karyawan Perseroan In 2025, a total of 2 (two) employees participated in the
telah berpartisipasi dalam program secondment, dengan secondment program, with the details as follows:
rincian sebagai berikut:
Posisi di WB
Lokasi Periode
Position at the
Nama & Jabatan Karyawan
Location Period Name & Job Title of Employee
World Bank
Astri Gautama - Team Leader Divisi Pembiayaan
9/10/2023 Urban Development
World Bank Washington DC Publik 3
–9/4/2025 Specialist
Team Leader of Public Financing Division 3
Dorothea Reetta Pranari - Staff Divisi
30/4/2024 –
World Bank Singapura Energy Specialist Pengembangan Proyek
30/4/2025
Staff of Project Development Division
Program Beasiswa Scholarship Program
Perseroan menyediakan program beasiswa bagi The Company provides a scholarship program for
karyawan untuk melanjutkan pendidikan formal di employees to pursue formal education at universities
universitas atau perguruan tinggi pada jenjang Sarjana or higher education institutions at the Bachelor’s Degree,
(S1), Magister (S2), hingga Doktoral (S3). Program yang Master’s Degree, and Doctorate Degree levels. This
telah berjalan sejak tahun 2017 ini dirancang sebagai program, which has been in place since 2017, is designed
bentuk apresiasi atas kinerja dan kontribusi karyawan as a form of appreciation for high-performing employees
berprestasi, sekaligus sebagai upaya penguatan and their contributions, while also strengthening the
kapasitas SDM Perseroan secara berkelanjutan. Company’s human capital capacity on a sustainable
basis.
Pemberian beasiswa ditujukan kepada karyawan tetap The scholarships are granted to permanent employees
yang memenuhi kriteria kinerja serta Talent Classification who meet the required performance criteria and Talent
yang ditetapkan. Seluruh kandidat mengikuti proses Classification standards. All candidates undergo a
seleksi dan wawancara yang dikelola oleh Divisi SDM selection and interview process managed by the Human
dengan melibatkan jajaran Direksi Perseroan. Melalui Capital Division, involving members of the Company’s
program ini, Perseroan mendorong peningkatan Board of Directors. Through this program, the Company
pengetahuan, keahlian, dan keterampilan profesional aims to enhance employees’ knowledge, expertise, and
karyawan guna mendukung pencapaian visi dan misi PT professional skills to support the achievement of PT SMI’s
SMI. Adapun jumlah peserta program beasiswa karyawan vision and mission. The number of employee scholarship
dalam tiga tahun terakhir disajikan sebagai berikut: recipients over the past three years is presented as
follows:
Jenjang Jabatan
2025 2024 2023
Position Level
Sarjana (S1)
1 2 -
Bachelor’s Degree
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Magister (S2)
12 6 12
Master’s Degree
Doktoral (S3)
4 3 2
Doctorate Degree
Jumlah
17 11 14
Total
Di luar pelaksanaan program beasiswa internal, Perseroan Beyond the implementation of its internal scholarship
telah memperluas inisiatif pengembangan SDM melalui program, the Company has expanded its human
penandatanganan kesepakatan kerja sama dengan capital development initiatives through the signing of a
Lembaga Pengelola Dana Pendidikan (LPDP) pada Mei cooperation agreement with the Indonesia Endowment
2023. Kesepakatan ini mencakup empat bidang strategis, Fund for Education (LPDP) in May 2023. This agreement
yaitu kerja sama investasi, pengembangan sumber daya covers four strategic areas, namely investment
manusia, riset, serta penyaluran dana filantropi. cooperation, human capital development, research, and
the distribution of philanthropic funds.
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Sebagai sesama SMV di bawah Kementerian Keuangan, As fellow Special Mission Vehicles (SMVs) under the
Perseroan dan LPDP memegang peran penting dalam Ministry of Finance, the Company and LPDP play an
mendukung percepatan pembangunan nasional. important role in supporting the acceleration of national
Kolaborasi ini diwujudkan melalui berbagai program development. This collaboration is implemented through
turunan dari keempat bidang tersebut, antara lain various derivative programs across these four areas,
pengembangan energi hijau, sosialisasi program including green energy development, scholarship
beasiswa, pengelolaan alumni LPDP, serta inisiatif program outreach, LPDP alumni management, and
pengembangan SDM. human capital development initiatives.
Selain itu, Perseroan menyelenggarakan berbagai In addition, the Company conducts various training
program pelatihan yang berkaitan dengan lingkungan programs related to environmental and climate change
dan perubahan iklim, antara lain: topics, including:
Jenis Pelatihan
(Publik dan Inhouse Jumlah
Nama Pelatihan Tanggal Pelaksanaan Knowledge Sharing) Peserta
No Date of Training Type of Training Total
Title of Training
(Public and Inhouse Participants
Knowledge Sharing)
3rd IKI Training: Beyond Numbers –
1 Understanding Impact Measurement for 18/02/2025 - 19/02/2025 Public Training 2
Sustainable Solutions
Analyzing and Reporting Environmental, Social
2 22/12/2025 - 22/12/2025 E-Learning 1
and Governance Data
Brown Bag Lunch: From Waste to Power:
3 Leveraging Results-Based Lending for 04/06/2025 - 04/06/2025 Knowledge Sharing 22
Sustainable Cities
Capacity Building Hydropower Project
4 12/02/2025 - 12/02/2025 Inhouse Training 18
Development
5 Climate Change: A Top ESG Concern 03/07/2025 - 03/07/2025 E-learning 12
Climate Justice and Sustainable Business
6 04/07/2025 - 04/07/2025 E-Learning 1
Practices
7 Create a Sustainable Brand in a Global Market 15/12/2025 - 15/12/2025 E-learning 1
8 Diversity Recruiting 20/12/2025 - 30/12/2025 E-learning 1
Empowering Local Communities for Stronger
9 25/03/2025 - 25/03/2025 Public Training 2
Corporate Sustainability
Environmental and Social Framework (ESF)
10 05/11/2025 - 06/11/2025 Public Training 2
Orientation and Deep Dive Workshop
Environmental, Social, and Governance (ESG)
11 05/08/2025 - 05/08/2025 E-Learning 1
Disclosure for Financial Decision-Making
Environmental, Social, and Governance (ESG)
12 11/08/2025 - 22/08/2025 E-Learning 2
Fundamentals for Financial Decision-Making
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
13 ESG for Commercial Lenders 27/09/2025 - 31/12/2025 E-Learning 1
14 ESG Fundamentals 21/08/2025 - 23/04/2025 Public Training 4
15 General ESG Training 22/09/2025 - 23/09/2025 Inhouse Training 15
Green Hydrogen Specialist: Project Development
16 22/07/2025 - 28/11/2025 Public Training 1
and Economics
Greenhouse Gas (GHG) Calculation, Mitigation,
17 29/04/2025 - 30/04/2025 Public Training 1
Audit and Reporting Training
18 Hydrogen Financing 09/05/2025 - 09/05/2025 Inhouse Training 24
IDFC online biodiversity training: 1st session: The
19 04/06/2025 - 04/06/2025 Public Training 4
Nature/Biodiversity Finance Landscape
Implementing Gender and Social Inclusion &
20 02/10/2025 - 03/10/2025 Knowledge Sharing 22
SDG Indicators in Infrastructure Projects
21 Indonesia Carbon Trading Handbook 03/01/2025 - 03/01/2025 E-Learning 9
Introduction to ESG: Environmental, Social, and
22 01/07/2025 - 01/07/2025 E-Learning 4
Governance
357
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Jenis Pelatihan
(Publik dan Inhouse Jumlah
Nama Pelatihan Tanggal Pelaksanaan Knowledge Sharing) Peserta
No Date of Training Type of Training Total
Title of Training
(Public and Inhouse Participants
Knowledge Sharing)
Inventarisasi dan Peluang Monetisasi Reduksi
Emisi Gas Rumah Kaca (GRK) untuk Karyawan
dan Debitur PT SMI
23 30/06/2025 - 01/07/2025 Inhouse Training 16
Inventory and Monetization Opportunities for
Greenhouse Gas (GHG) Emission Reductions for
PT SMI Employees and Debtors
24 Just Transition Capacity Building 09/12/2025 - 11/12/2025 Knowledge Sharing 9
25 Just Transition Training 09/12/2025 - 18/11/2025 Knowledge Sharing 15
Knowledge Sharing: Growing Infrastructure
26 29/07/2025 - 29/07/2025 Knowledge Sharing 80
Course (GIC) on Sustainable Transport
Knowledge Sharing: Unlocking ESG Values
27 03/07/2025 - 03/07/2025 Knowledge Sharing 18
Strategies for Human Resources
28 Leveraging Business Analysis in ESG 04/08/2025 - 04/08/2025 E-Learning 23
Mobilizing Private Capital Through PPPs and
29 07/07/2025 - 11/07/2025 Inhouse Training 1
Blended Finance for the Clean Energy Transition
Pelatihan High Conservation Value and High
Carbon Stock Lead Assessor 2025
30 17/02/2025 - 22/02/2025 Public Training 2
High Conservation Value and High Carbon Stock
Lead Assessor Training 2025
Penerapan Pengarusutamaan Kesetaraan
Gender dan Inklusi Sosial
31 31/12/2025 - 31/12/2025 E-learning 1
Implementation of Gender Equality and Social
Inclusion Mainstreaming
Pengendalian Pencemaran Udara Sertifikasi
32 PPPU 20/10/2025 - 23/10/2025 Public Training 2
Air Pollution Control Certification (PPPU)
Penguatan Kapasitas SDM dalam Pengelolaan
Lingkungan Hidup atas Perubahan Izin
Lingkungan Menjadi Persetujuan Lingkungan
Berdasarkan PP No.22 Tahun 2021, serta
Penerapan Amdal dan K3 Guna Meningkatkan
Performa Perusahaan.
Strengthening Human Capital Capacity in
33 10/12/2025 - 11/12/2025 Public Training 1
Environmental Management Following the
Transition from Environmental Permits to
Environmental Approvals under Government
Regulation No. 22 of 2021, as well as the
Implementation of AMDAL and Occupational
Health and Safety (OHS) to Enhance Company
Performance
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Penilaian Sistem Pemeringkatan Penilaian
Perlindungan Diri dan Sosial (E&S Rating)
34 11/02/2025 - 11/02/2025 Inhouse Training 15
Environmental and Social (E&S) Rating System
Assessment
Perlindungan Warisan Budaya dalam
Pelaksanaan Proyek Pembangunan Infrastruktur
Berkelanjutan di Indonesia
35 15/10/2025 - 16/10/2025 Public Training 19
Protection of Cultural Heritage in the
Implementation of Sustainable Infrastructure
Development Projects in Indonesia
PSAK Terkini Sesuai Konvergensi IFRS
36 Latest PSAK Updates in Line with IFRS 20/05/2025 - 23/05/2025 Public Training 1
Convergence
Refreshment BSMR Jenjang 6
37 11/02/2025 - 11/02/2025 Public Training 1
BSMR Level 6 Refresher Training
38 Respectful Workplace Training 19/06/2025 - 20/06/2025 Knowledge Sharing 21
39 Safety Training Hydrogen Sulfide (H2S) 15/01/2025 - 15/01/2025 Public Training 5
40 SDG Indonesia one 29/12/2025 - 29/12/2025 E-Learning 1
41 Sustainability - The Next Challenge 15/12/2025 - 17/12/2025 Public Training 2
358
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Jenis Pelatihan
(Publik dan Inhouse Jumlah
Nama Pelatihan Tanggal Pelaksanaan Knowledge Sharing) Peserta
No Date of Training Type of Training Total
Title of Training
(Public and Inhouse Participants
Knowledge Sharing)
42 Sustainable and ESG Supply Chains 30/12/2025 - 31/12/2025 E-Learning 1
The Biodiversity Partners Program SEA 2025
43 15/12/2025 - 19/12/2025 Public Training 2
Bootcamp
44 The Importance of Biodiversity to Business 14/07/2025 - 15/07/2025 E-Learning 1
Unlocking ESG Values: Strategies for Human
45 10/03/2025 - 13/03/2025 Public Training 2
Resources
Workshop Identifikasi dan Implementasi
Pengelolaan serta Pemantauan
Keanekaragaman Hayati Bagi Sektor
46 Energi Baru Terbarukan 25/08/2025 - 26/08/2025 Inhouse Training 25
Workshop on Identification and Implementation
of Biodiversity Management and Monitoring for
the New and Renewable Energy Sector
Workshop on the Introduction and Lessons
47 Learned on the implementation of Taskforce on 18/08/2025 - 18/08/2025 Knowledge Sharing 18
Nature-related Financial Disclosures (TNFD)
Workshop Penerapan SMK3 di PT. SMI
Workshop on the Implementation of
48 02/05/2025 - 02/05/2025 Knowledge Sharing 97
Occupational Health and Safety Management
System (SMK3) at PT SMI
World Bank Group Non-Revenue Water
49 07/04/2025 - 10/04/2025 Public Training 3
Management Training
Biaya Pengembangan Kualitas SDM Human Capital Quality Development Costs
Komitmen Perseroan terhadap peningkatan The Company’s commitment to enhancing human
kualitas sumber daya manusia diwujudkan melalui capital quality is reflected in the allocation of a budget
penetapan anggaran sebesar Rp21.162.650.000 untuk of IDR21,162,650,000 for competency development
pengembangan kompetensi dan sertifikasi SDM. Sampai and certification programs. As of the end of 2025, the
dengan akhir tahun 2025, realisasi anggaran pelatihan realization of the employee training budget reached
karyawan mencapai Rp20.015.794.129, atau meningkat IDR20,015,794,129, representing an increase of 3.23%
sebesar 3,23% dibandingkan dengan realisasi pada tahun compared to the 2024 realization of IDR19,388,730,274.30.
2024 yang tercatat sebesar Rp19.388.730.274,30.
Persamaan Kesempatan untuk Karyawan Equal Opportunities for Employees
Perseroan menjamin pemberian kesempatan yang adil The Company ensures fair and equal opportunities for
dan setara bagi seluruh karyawan dalam pelaksanaan all employees in the execution of duties, competency
tugas, pengembangan kompetensi, serta peluang development, and promotion opportunities. All processes PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
promosi jabatan. Seluruh proses tersebut dilaksanakan are carried out in accordance with the provisions and
dengan berpedoman pada ketentuan dan kriteria yang criteria set forth in the Company’s regulations, as well
telah ditetapkan dalam peraturan perusahaan, serta as in compliance with applicable laws and regulations.
selaras dengan peraturan perundang-undangan yang
berlaku.
Penilaian Kinerja Karyawan Employee Performance Assessment
Perseroan menyelenggarakan evaluasi kinerja karyawan The Company conducts employee performance
sekurang-kurangnya satu kali dalam satu tahun. evaluations at least once a year. This systematic and
Mekanisme penilaian yang disusun secara sistematis data-driven assessment mechanism is not only used
dan berbasis data ini tidak hanya dimanfaatkan untuk to recognize significant employee achievements but
memberikan apresiasi atas pencapaian karyawan also to identify development potential and areas for
yang signifikan, tetapi juga untuk memetakan potensi improvement in order to support overall business
pengembangan serta area perbaikan guna mendukung performance enhancement.
peningkatan kinerja bisnis secara menyeluruh.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Adapun tahapan evaluasi kinerja karyawan disajikan The stages of the employee performance evaluation
pada skema berikut. process are presented in the following scheme.
Penyusunan Persetujuan Pelaksanaan
Kesepakatan Kinerja Kesepakatan Kinerja Penilaian Perilaku Kerja
Preparation of Performance Approval of Performance (Feedback 360 Degree)
Agreement Agreement Work Behavior Appraisal
(360-Degree Feedback)
Rekapitulasi Persetujuan Penilaian Pelaksanaan
Data Penilaian Kinerja Kinerja Keseluruhan Penilaian Kinerja
Performance Appraisa Approval of Overall (Key Performance Indicator)
Data Recapitulation Performance Appraisal Performance Appraisal
(Key Performance Indicator)
Berikut adalah penjelasan rinci mengenai setiap tahapan The breakdown of each stage in the employee
dalam penilaian kinerja karyawan: performance assessment process is as follows:
1. Penyusunan Kesepakatan Kinerja 1. Performance Agreement Development
Penilaian kinerja karyawan dimulai dengan proses The employee performance assessment process
penetapan target kinerja karyawan, dalam bentuk begins with the setting of performance targets,
kesepakatan antara karyawan dan atasannya, yang formulated as agreements between the employee
akan dicapai selama tahun berjalan. Hal tersebut and their supervisor, and it achieves throughout the
diformulasikan dengan mengacu pada RKAP dan year. It is formulated with reference to the Annual
berisi deskripsi pekerjaan, target kinerja dan hasil yang Business Plan and include a description of job duties,
harus dicapai, serta jangka waktu target tersebut performance targets, expected outcomes, and the
harus tercapai. timeline for achieving these targets.
Dalam melakukan penyusunan kesepakatan kinerja, In setting up the performance agreement, PT SMI is
PT SMI berkomitmen untuk menyelaraskan KPI (Key committed to aligning individual Key Performance
Performance Indicator) Individu dengan KPI Korporasi, Indicators (KPI) with Corporate KPI. This involves a
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Maka, dilakukan proses cascading secara berjenjang cascading process that filters down from Corporate
mulai dari KPI Korporasi sampai dengan KPI Individu. KPIs to Individual KPI. In addition, the SMART (Specific,
Selain itu, ditekankan juga prinsip SMART (specific, Measurable, Achievable, Relevant, and Timebound)
measurable, achievable, relevant, and time-bound) principle is emphasized in the formulation of
dalam penyusunan kesepakatan kinerja. Penilaian performance agreements. Employee performance
kinerja karyawan juga didasarkan pada kerangka evaluations are also based on the RASCI framework
RASCI ( responsible, accountable, supportive, (Responsible, Accountable, Supportive, Consulted, and
consulted, dan informed) guna memastikan adanya Informed) to ensure transparency in the distribution
transparansi dalam pendistribusian tanggung of responsibilities, facilitate effective collaboration,
jawab yang diemban setiap individu, memfasilitasi and strengthen directed performance management.
kolaborasi yang efektif, dan memperkuat pengelolaan Through these principles, the Company aims to
kinerja yang terarah. Melalui prinsip-prinsip tersebut, achieve a transparent and accountable employee
diharapkan dapat terwujud proses penilaian kinerja performance assessment process at all levels of the
karyawan yang transparan dan akuntabel di semua organization.
tingkatan organisasi.
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Pada tahap ini, Perseroan menyelenggarakan At this stage, a retreat was held involving all members
kegiatan Retreat yang diikuti oleh seluruh Direksi of the Board of Directors and representatives
serta perwakilan Divisi untuk merumuskan Indikator from each division to develop the Performance
Pencapaian Kinerja (IPK) Kepala Divisi tahun 2025. IPK Achievement Indicators (IPK) for Heads of Division for
tersebut selanjutnya digunakan sebagai pedoman 2025. These indicators serve as a reference for Team
bagi Team Leader dan Staff di masing-masing Divisi Leaders and Staff in each division as they formulate
dalam menyusun kesepakatan kinerja tahun 2025. their performance agreements for 2025.
2. Persetujuan Kesepakatan Kinerja 2. Performance Agreement Approval
Kesepakatan kinerja diajukan untuk mendapatkan The performance agreement is submitted for approval
persetujuan dari atasan langsung dan atasan tidak to both the direct and indirect supervisors to ensure
langsung, guna memastikan bahwa kesepakatan that the agreement has been thoroughly reviewed
telah diperiksa dan disetujui secara menyeluruh. and approved.
3. Pelaksanaan Penilaian Perilaku Kerja 3. Implementation of Workplace Behavior Assessment
Penilaian perilaku kerja karyawan dilaksanakan The assessment of employee workplace behavior
melalui metode Feedback 360 Degre e, yang is conducted through the 360-Degree Feedback
melibatkan atasan terkait, rekan kerja, dan bawahan method, involving the relevant supervisors, peers,
(jika mempunyai). Pada tahap ini dilakukan penilaian and subordinates (if any). This phase assesses work
sikap kerja dengan berdasarkan penerapan core attitudes based on the Company’s core values, known
values Perseroan yaitu I-SPRINT. Khusus untuk as I-SPRINT. Specifically, for employees in structural
karyawan yang menduduki jabatan struktural, positions, an assessment of workplace behavior from
dilakukan juga penilaian perilaku kerja dari aspek a leadership perspective is also conducted.
kepemimpinan.
4. Pelaksanaan Penilaian Kinerja 4. Implementation of Performance Assessment
Penilaian kinerja karyawan didasarkan pada Employee performance assessment is based on
kesepakatan kerja yang telah ditetapkan melalui previously established work agreements, using a KPI
metode penilaian KPI dengan 4 perspektif Balanced assessment method with the four perspectives of the
Scorecard, yaitu Mandat dan Keuangan, Proses Balanced Scorecard: Mandate and Finance, Internal
Bisnis Internal, Stakeholders, dan Pembelajaran & Business Processes, Stakeholders, and Learning &
Pertumbuhan. Penggunaan Balanced Scorecard Growth. The use of the Balanced Scorecard is intended
ditujukan agar setiap perspektif saling terkait dan to ensure that each perspective is interconnected
dapat mendukung satu sama lain guna memastikan and supports one another, ultimately ensuring
pencapaian performa bisnis Perseroan secara comprehensive business performance achievement
menyeluruh. for the Company.
5. Persetujuan Penilaian Kinerja Keseluruhan 5. Approval of the Overall Performance Assessment
Penilaian kinerja secara menyeluruh (penilaian The comprehensive performance evaluation, which
perilaku kerja dan penilaian kinerja) disetujui oleh includes both workplace behavior and performance
atasan langsung dan atasan tidak langsung untuk assessment, is approved by both direct and indirect
menegaskan komitmen PT SMI dalam memastikan supervisors. This step reaffirms PT SMI’s commitment to PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
adanya penilaian yang objektif terhadap kontribusi ensuring an objective evaluation of each employee’s
karyawan. Proses ini memastikan bahwa setiap aspek contributions. The process guarantees that all aspects
dari kinerja individu telah dipertimbangkan dengan of an individual’s performance have been carefully
seksama oleh pimpinan yang relevan. considered by relevant leaders.
6. Rekapitulasi Data Penilaian Kinerja 6. Recapitulation of Performance Assessment Data
Setelah dilakukan finalisasi, data hasil penilaian Once finalized, the performance assessment data
kinerja digunakan sebagai dasar untuk menyusun is used as a foundation to design and implement
dan melaksanakan program pengembangan diri personalized self-improvement and career
dan program pengembangan karier karyawan development programs for employees in accordance
yang disesuaikan dengan talent classification setiap with each individual’s talent classification. This data
individu, serta akan menjadi bahan pertimbangan also serves as a basis for determining variable pay
dalam memberikan variable pay bagi karyawan. for employees, ensuring that compensation is aligned
with their performance and potential.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Pengembangan Karier Career Development
Guna menyiapkan karyawan berpotensi sekaligus In order to prepare and develop potential employees
membangun calon pemimpin masa depan yang selaras and as a form of preparing the Company’s future leaders
dengan visi, misi, dan target perusahaan, PT SMI melalui to support the achievement of the Company’s vision,
Divisi SDM mengimplementasikan program suksesi mission, and targets, PT SMI, through its Human Capital
manajemen melalui penerapan talent management. Division, implements a management succession program
Program ini diarahkan untuk memastikan pengembangan through the application of talent management programs.
karier karyawan secara berkelanjutan serta membentuk Through this program, it is expected that there will be
talent pool yang siap mengisi berbagai posisi strategis sustainable career development for employees and a
di Perseroan. talent pool available for successors to fill various positions
in the Company.
Pelaksanaan program Talent Management dilakukan The five main stages of implementing the Talent
melalui lima tahapan utama, yaitu: Management program are as follows:
TAHAPAN IMPLEMENTASI TALENT MANAGEMENT
STAGES OF TALENT MANAGEMENT IMPLEMENTATION
Identifikasi Talent Penetapan Talent Pengelompokan Talent Pengembangan Talent Pemantauan dan Evaluasi
Talent Identification Talent Determination Talent Classification Talent Development Monitoring and Evaluation
1. Identifikasi Talent 1. Talent Identification
Merupakan proses verifikasi data kinerja Karyawan This process involves verifying employee performance
yang merupakan dasar dalam mengidentifikasi data, which serves as the basis for identifying the
potensi dan kompetensi masing-masing Karyawan, potential and competencies of each employee,
sebagai dasar dalam melakukan penetapan dan leading to the determination and grouping of talents.
pengelompokan Talent. Proses identifikasi Talent The Talent identification process maps employees
merupakan pemetaan Karyawan yang didasarkan based on 2 (two) dimensions of Talent classification:
pada 2 (dua) dimensi klasifikasi Talent, yaitu:
a. Performance Review a. Performance Review
Merupakan proses pemetaan Karyawan This process maps employees based on
berdasarkan kinerja Karyawan, dengan melakukan their performance, ranking the performance
pemeringkatan nilai capaian kinerja Karyawan achievements of employees in each division,
di masing-masing Divisi, yang tersusun dari 3 categorized into 3 groups with 5 (five) levels of
kelompok kategori performance dengan 5 (lima) employee performance.
jenjang tingkatan performance Karyawan.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
b. Potential Review b. Potential Review
Merupakan proses pemetaan dan pengelompokan This process maps and groups employees
Karyawan dengan mempertimbangkan potensi considering their individual potential, based on
yang dimiliki masing-masing Karyawan dengan the characteristics of each Talent group that has
didasarkan pada karakteristik masing-masing been established.
kelompok Talent yang telah ditetapkan.
2. Penetapan Talent 2. Talent Determination
Merupakan tahapan penetapan Talent Class dari This stage involves determining the Talent Class of
masing-masing Karyawan dengan menggabungkan each employee by combining their Performance
Performance Review dan Potential Review dari Review and Potential Review, resulting in the
masing-masing Karyawan, sehingga diperoleh Talent Talent Classification Matrix of all of the Company’s
Classification Matrix dari seluruh Karyawan Perseroan. employees.
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3. Pengelompokan Talent 3. Talent Pooling
Disebut juga dengan tahapan Talent Pooling , Also known as the Talent Pooling stage, this is a follow-
merupakan tahapan tindak lanjut dari proses up process to Talent Identification, in which employees
identifikasi Talent , yakni proses menetapkan with high technical and managerial expertise are
karyawan-karyawan yang memiliki keahlian teknis selected and projected as potential successors for the
dan manajerial tinggi, yang dapat diproyeksikan Company. This process ensures a pipeline of qualified
dapat menjadi suksesor Perseroan, guna menduduki candidates ready to fill critical and vacant positions.
posisi-posisi critical dan vacant position.
4. Pengembangan Talent 4. Talent Development
Merupakan proses perencanaan dan penetapan This process involves planning and determining
program pengembangan Karyawan sesuai dengan employee development programs according to
kelompok Talent Classification. Proses penetapan their Talent Classification group. The determination
program pengembangan Karyawan ini, dilakukan oleh of employee development programs is done by the
Divisi Sumber Daya Manusia dengan berkoordinasi Human Capital Division in coordination with direct
dan melibatkan atasan langsung dan atasan and indirect supervisors, as well as the employees
tidak langsung Karyawan, serta Karyawan yang concerned, as a commitment to jointly implementing
bersangkutan, sebagai bentuk komitmen bersama employee development programs.
dalam melaksanakan program pengembangan
Karyawan.
5. Pemantauan dan Evaluasi Talent 5. Talent Monitoring and Evaluation
Proses pemantauan dan evaluasi atas program The monitoring and evaluation process of talent
pengembangan talent dilakukan melalui pengukuran development programs is conducted through
kompetensi Karyawan yang masuk dalam kategori competency measurements of employees included
talent pool, sebagai dasar pertimbangan pelaksanaan in the talent pool category, serving as the basis for
rencana pengembangan talent yang diusulkan oleh considering the implementation of proposed talent
Divisi terkait dan DSDM baik untuk pengembangan development plans by the relevant divisions and
diri dan pengembangan karier Karyawan. Human Capital Division, both for self-development
and career development of employees.
Penerapan Talent Management yang dirancang secara Implementation of Talent Management as an
terintegrasi dan berkelanjutan dimanfaatkan Perseroan interconnected and sustainable program is used by the
sebagai landasan dalam pelaksanaan berbagai program Company as a basis/reference for various employee
pengembangan karyawan, antara lain: development programs, such as:
1. Program pelatihan Karyawan, baik Public Training, 1. Employee training programs, including Public Training,
In-House Training, maupun Knowledge Sharing. In-House Training, and Knowledge Sharing.
2. Program perpindahan Karyawan, baik melalui proses 2. Employee relocation programs, including employee
mutasi Karyawan, rotasi Karyawan, maupun proses transfer processes, rotations, and other employee
perpindahan Karyawan lainnya. relocation processes.
3. Program beasiswa Karyawan. 3. Employee scholarship program.
4. Program Individual Development Plan, yang memuat 4. Individual Development Plan Program, which include PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
penentuan pengembangan Karyawan, dari aspek: determining employee development aspects:
a. Pengembangan diri Karyawan a. Employee self-development
b. Pengembangan karier Karyawan b. Employee career development
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Program Individual Development Plan Individual Development Plan Program
Menyadari pentingnya perencanaan dan persiapan Recognizing the importance of planning and preparation
dalam membentuk pemimpin serta penerus yang akan in developing future leaders and successors for strategic
menempati posisi-posisi strategis dan krusial, khususnya and critical positions within the Company, particularly
pada jabatan struktural, Perseroan melalui Divisi SDM in structural roles—the Company, through the Human
menyelenggarakan program Individual Development Capital Division, implements the Individual Development
Plan (IDP) yang terintegrasi dalam kerangka Talent Plan (IDP) as part of its ongoing Talent Management
Management berkelanjutan. Program ini dirancang program. This program is designed to support capacity
untuk mengakomodasi perencanaan pengembangan and competency development planning, while also
kapasitas dan kompetensi, sekaligus penataan jenjang structuring employees’ career progression in a systematic
karier karyawan secara sistematis. manner.
Adapun program IDP meliputi 2 (dua) jenis perencanaan The IDP program consists of 2 (two) types of employee
pengembangan karyawan, yaitu sebagai berikut: development planning:
Identifikasi Talent Identifikasi Talent
Pengelompokan Talent Pengembangan Talent Pemantauan Evaluasi
Talent indentification Talent
Talent Grouping Talent Development Evaluation Monitoring
indentification
Pengembangan Diri
Talent Pool
Personal Development
Regular
Development
Plan
Talent Class
I & II Regular
Development
Talent Individual Plan
Performance Review: Classification Development
KPI & Feedback 3600 Matrix Plan
Regular
Development
Plan
Pengembangan Karir
Performance Regular Career Development Regular
Appraisal Development Development
Potential Review Pengukuran
Talent Class Plan Plan Kompetensi
+ Rencana
Pengembangan Diri I & II Competency
dan Pengembangan Measurement
Perpindahan Regular
Karir Karyawan
Potential Review Development
Employee Transfer Plan
+ Personal
Development and
Career Development
Mutasi Regular
Plan
Mutation Development
Performance
Plan
Improvement Plan
Rotasi
Talent Class Rotation
I & II
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Promosi
Promotion
Demosi
Demotion
Penugasan
Sementara
Temporary
Assignment
Rekrutmen Internal
Internal
Recruitment
Penempatan
Anak Usaha
Subsidiary Placement
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Rencana Pengembangan Diri (Employee Employee Development
Development Plan)
Rencana Pengembangan Diri (Employee Development The Employee Development Plan is a structured planning
Plan) merupakan suatu proses perencanaan yang process designed to enhance employee competencies
dirancang untuk meningkatkan kompetensi karyawan through the identification of appropriate and relevant
melalui penetapan program pengembangan diri yang development programs. Its implementation refers to
tepat dan relevan. Pelaksanaannya mengacu pada lima five categories of employee development within the
kategori pengembangan diri karyawan Perseroan yang Company, known as the Five Cluster SMI Development
dikenal sebagai Five Cluster SMI Development Program, Program, which include:
yang meliputi:
1. Program pengembangan kompetensi. 1. Competency development program.
2. Program pengembangan pemahaman organisasi 2. Organizational knowledge development program
(Organization Knowledge). (Organization Knowledge).
3. Program pengembangan regular. 3. Regular development program.
4. Program job exposure. 4. Job exposure program.
5. Program persiapan suksesi. 5. Succession preparation program.
Rencana Pengembangan Karier Career Development Plan (Growth Model)
(Growth Model)
Rencana Pengembangan Karier ( Growth Model ) The Career Development Plan (Growth Model) is a
merupakan mekanisme perencanaan dan pengelolaan structured mechanism for planning and managing
karier karyawan yang dirancang untuk mendorong employees’ careers, designed to support career
peningkatan jenjang karier selaras dengan pertumbuhan progression in alignment with the Company’s
organisasi Perseroan. Melalui pendekatan ini, karyawan organizational growth. Through this approach, employees
yang memiliki kualifikasi, kompetensi, serta pengalaman with the appropriate qualifications, competencies, and
yang memadai dapat ditempatkan pada posisi atau experience can be placed in roles or positions that
jabatan yang sesuai. Di samping itu, pengembangan best match their capabilities. In addition, this career
karier ini menjadi langkah strategis dalam menyiapkan development framework serves as a strategic initiative
dan membangun calon pemimpin Perseroan di masa to prepare and develop future leaders within the
mendatang. Perencanaan pengembangan karier Company. The Company’s career development planning
karyawan Perseroan mencakup dua aspek utama, yaitu: encompasses two main aspects, namely:
1. Rencana karier jangka pendek (dengan jangka waktu 1. Short-term career plan (lasting between 1 (one) to
antara 1 (satu) s.d 2 (dua) tahun). 2 (two) years).
2. Rencana karier jangka panjang (dengan jangka waktu 2. Long-term career plan (lasting between 4 (four) to
antara 4 (empat s.d 6 (enam) tahun). 6 (six) years).
Jalur karier dalam perencanaan dan pengembangan Career pathways in employee career planning and
karier karyawan dirancang melalui beberapa mekanisme development are designed through the following
berikut: mechanisms:
1. Jalur Karier Manajerial 1. Managerial Career Path
Jalur ini memberikan kesempatan bagi karyawan This pathway provides employees with opportunities
untuk berkembang dan menempati berbagai to grow and take on various leadership and structural PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
posisi kepemimpinan maupun struktural di dalam roles within the organization, in line with increasing
organisasi, seiring dengan peningkatan kapasitas managerial capacity and responsibilities.
manajerial dan tanggung jawab yang diemban.
2. Jalur Karier Fungsional 2. Functional Career Path
Jalur fungsional ditujukan bagi karyawan dengan The functional pathway is intended for employees
keahlian teknis dan spesialisasi tertentu, sehingga with specific technical expertise and specialization,
memungkinkan penguatan dan pendalaman enabling continuous strengthening and deepening
kompetensi profesional secara berkelanjutan, of professional competencies while creating optimal
sekaligus menciptakan nilai tambah yang optimal value for the Company.
bagi Perseroan.
3. Mutasi Karyawan 3. Employee Transfer (Mutation)
Mutasi merupakan mekanisme perpindahan Transfer refers to the movement of employees across
karyawan antarunit kerja pada Divisi atau Direktorat work units in different Divisions or Directorates. Its
yang berbeda. Pelaksanaannya diusulkan oleh implementation is proposed by the Heads of the
Kepala Divisi dari unit kerja asal dan unit kerja yang originating and receiving Divisions, taking into account
dituju, dengan mempertimbangkan kebutuhan Manpower Planning (MPP), the Company’s interests,
Manpower Planning (MPP), kepentingan Perseroan, and subject to approval by the Board of Directors.
serta memperoleh persetujuan Direksi.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
4. Rotasi Karyawan 4. Employee Rotation
Rotasi adalah proses perpindahan karyawan antarunit Rotation is the process of moving employees across
kerja dalam Divisi yang sama. Pelaksanaan rotasi work units within the same Division. It is carried
berada di bawah kewenangan Kepala Divisi terkait, out under the authority of the respective Division
dengan tetap memperhatikan efektivitas operasional, Head, while considering operational effectiveness,
peningkatan kinerja, serta pengembangan performance improvement, and continuous
kompetensi karyawan secara berkesinambungan. competency development.
Jenis Perubahan 2025 2024 2023
Status Karyawan
Type of Employee Pria Wanita Jumlah Pria Wanita Jumlah Pria Wanita Jumlah
Status Change Male Female Total Male Female Total Male Female Total
Promosi Struktural
Karyawan
3 3 6 7 3 10 8 4 12
Employee Structural
Promotion
Promosi Fungsional
Karyawan
0 0 0 2 1 3 1 0 1
Employee Functional
Promotion
Penempatan Karyawan
di Anak Perusahaan
3 0 3 7 1 8 0 0 0
Employee Placement in
Subsidiaries
Mutasi Karyawan
Employee Transfers 2 3 5 9 6 15 11 7 18
(Mutations)
Rotasi Karyawan
11 18 29 5 4 9 11 5 16
Employee Rotations
Demosi Karyawan
0 0 0 0 0 0 0 1 1
Employee Demotions
Total Jumlah
Karyawan
19 24 43 30 15 45 31 17 48
Total Number of
Employees
Upaya peningkatan berkelanjutan atas proses dan Continuous improvement of existing processes and
ketentuan yang berlaku dilakukan Perseroan melalui policies is carried out by the Company through the
Divisi SDM dengan melaksanakan peninjauan terhadap Human Capital Division by reviewing career development
kebijakan pengembangan karir dan rencana suksesi and succession planning policies in 2025. This review is
pada tahun 2025. Peninjauan ini ditujukan untuk semakin intended to further refine and strengthen the integration
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
menyempurnakan sekaligus memperkuat integrasi of talent management programs with other initiatives,
pelaksanaan program talent management dengan including performance management and human capital
berbagai inisiatif lainnya, termasuk manajemen kinerja development, covering stages from talent identification
dan pengembangan kualitas sumber daya manusia, to continuous monitoring and evaluation.
yang mencakup tahapan identifikasi talent hingga
pemantauan serta evaluasi yang dilakukan secara
berkesinambungan.
Hubungan Industrial Industrial Relations
Hubungan industrial yang harmonis dan kondusif Harmonious and conducive industrial relations are
dipandang sebagai faktor kunci dalam mendukung considered a key factor in supporting the achievement
pencapaian visi dan misi PT SMI. Perseroan menempatkan of PT SMI’s vision and mission. The Company regards
karyawan sebagai aset strategis, sehingga secara employees as strategic assets and consistently strives to
konsisten berupaya membangun dan menjaga build and maintain a healthy, fair, and supportive working
hubungan kerja yang sehat, adil, dan suportif di seluruh relationship across the organization.
lingkungan kerja.
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Pelaksanaan pembinaan hubungan industrial The implementation of industrial relations is based on Law
dilandaskan pada Undang-Undang No. 11 Tahun 2020 No. 11 of 2020 concerning Job Creation and Law No. 13 of
tentang Cipta Kerja serta Undang-Undang No. 13 Tahun 2003 concerning Manpower. Based on these regulations,
2003 tentang Ketenagakerjaan. Berlandaskan regulasi the Company ensures the fulfillment of all employees’
tersebut, Perseroan memastikan pemenuhan seluruh normative rights in accordance with applicable provisions.
hak normatif karyawan sesuai ketentuan yang berlaku. The commitment to fostering sustainable and aligned
Komitmen untuk menciptakan hubungan kerja yang working relationships is also reflected through various
selaras dan berkelanjutan juga diwujudkan melalui employee engagement programs, including the regular
penerapan berbagai program employee engagement, implementation of employee engagement surveys to
termasuk pelaksanaan survei employee engagement enhance employee involvement and satisfaction.
secara berkala guna meningkatkan keterlibatan dan
kepuasan karyawan.
Internalisasi Budaya Perusahaan Internalization of Corporate Culture
I-SPRINT
Integrity Trust
Service
Innovation
Excellence
Partnership Resilience
Budaya Perusahaan i-Sprint merupakan pedoman The i-Sprint Corporate Culture serves as a behavioral
perilaku bagi seluruh karyawan Perseroan, yang guideline for all Company employees, encompassing:
mencakup:
1. INTEGRITY 1. INTEGRITY PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Perusahaan yang berkarakter dan melakukan A Company with strong characters which conducts its
kegiatan usaha sesuai dengan etika serta selalu business activities ethically and consistently prioritizes
mengedepankan tata kelola yang baik. good governance.
2. SERVICE EXCELLENCE 2. SERVICE EXCELLENCE
Pelayanan yang konsisten memenuhi ekspektasi Consistent service that meets the customers’
pelanggan. expectation.
3. PARTNERSHIP 3. PARTNERSHIP
Kemitraan untuk mencapai visi dan misi Perusahaan. Partnership to achieve the Company’s vision and
4. RESILIENCE mission.
Berdaya tahan dan persisten dalam melaksanakan 4. RESILIENCE
tugas. Resilience and persistence in performing duties.
5. INNOVATION 5. INNOVATION
Memberikan solusi dalam pengembangan proyek Providing solutions in the development of infrastructure
infrastruktur. projects.
6. TRUST 6. TRUST
Perusahaan yang dapat membina kepercayaan A Company that consistently builds its customers’
pelanggan dan pemangku kepentingan. and stakeholders’ trust
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Nilai-nilai tersebut menjadi landasan dalam menjalankan These values serve as the foundation for daily work
aktivitas kerja sehari-hari serta mendukung pencapaian activities and support the sustainable achievement of
tujuan Perseroan secara berkelanjutan. the Company’s objectives.
Perseroan senantiasa mendorong pembentukan dan The Company continuously promotes the development
penanaman budaya perusahaan agar menjadi bagian and internalization of its corporate culture as an integral
integral dari aktivitas karyawan melalui berbagai program part of employees’ daily activities through various cultural
internalisasi budaya. Sepanjang tahun 2025, Perseroan programs. Throughout 2025, the Company implemented
melaksanakan sejumlah program internalisasi budaya several culture internalization initiatives, including:
perusahaan, antara lain:
1. Program Olahraga dan Komunitas Karyawan, yang 1. Sports and Employee Community Programs,
mencakup berbagai kegiatan seperti sepak bola, encompassing activities such as football, basketball,
basket, tenis, bulu tangkis, yoga, dan kegiatan tennis, badminton, yoga, and other community
komunitas lainnya, sebagai upaya menjaga initiatives to promote physical and mental well-
kesehatan fisik dan mental sekaligus memperkuat being while strengthening social interaction among
interaksi sosial antar karyawan. employees.
2. Kegiatan Keagamaan, berupa kegiatan keagamaan 2. Religious Activities, consisting of regular religious
rutin yang difasilitasi Perseroan sebagai sarana programs facilitated by the Company to strengthen
penguatan nilai spiritual dan pembentukan karakter spiritual values and character development.
karyawan.
3. Kampanye dan Publikasi Digital Internal, yang 3. Internal Digital Campaigns and Publications,
dilaksanakan secara berkelanjutan melalui berbagai conducted continuously through internal
kanal komunikasi internal seperti e-mail, ECMS, communication channels such as email, ECMS,
WhatsApp Group, TV internal, dan MS Teams, untuk WhatsApp groups, internal TV, and MS Teams to
menyampaikan nilai budaya perusahaan, informasi communicate corporate values, employee activities,
kegiatan karyawan, serta pengumuman internal and internal announcements.
lainnya.
4. Pelaksanaan Town Hall Meeting, sebagai media 4. Town Hall Meetings, serving as a two-way
komunikasi dua arah antara Manajemen dan communication platform between Management
karyawan dalam rangka penyampaian arah strategis and employees to convey the Company’s strategic
Perseroan, penguatan budaya perusahaan, serta direction, reinforce corporate culture, and align
penyelarasan pemahaman atas kebijakan dan kinerja understanding of policies and performance.
Perseroan.
5. Pelaksanaan kegiatan Year End & SMiers Meet Up, yang 5. Year-End & SMiers Meet Up Events, including year-
diisi dengan refleksi kinerja akhir tahun, pemberian end performance reflections, employee recognition
penghargaan kepada karyawan atas implementasi for demonstrating integrity (e.g., through the No
nilai integritas antara lain melalui program No Gratification for Today program), appreciation
Gratification for Today, apresiasi kepada karyawan for retiring employees, and the 2025 Christmas
yang memasuki masa purnabakti, serta perayaan celebration with children from orphanages.
Natal 2025 bersama anak-anak panti asuhan.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
6. Workshop dan kegiatan Team Building di tingkat 6. Directorate-Level Workshops and Team Building
Direktorat, yang bertujuan untuk memperkuat Activities, aimed at strengthening collaboration,
kolaborasi, kepemimpinan, dan internalisasi nilai leadership, and the internalization of corporate values
budaya perusahaan dalam pelaksanaan tugas in daily operations.
sehari-hari.
Kebebasan Berserikat dan Perundingan Freedom of Association and Collective
Bersama Bargaining
Perseroan menghormati dan menjamin hak karyawan The Company respects and guarantees employees’
untuk berserikat dan menyampaikan aspirasi sesuai rights to freedom of association and to express their
dengan ketentuan peraturan perundang-undangan. aspirations in accordance with applicable laws and
Perseroan membuka ruang dialog dan komunikasi yang regulations. It provides space for constructive dialogue
konstruktif sebagai sarana penyampaian pendapat dan and communication to express opinions and resolve
penyelesaian isu hubungan kerja secara musyawarah. employment-related issues through mutual consultation.
Pengaturan Kegiatan Kerja Work Arrangement
Pada tahun 2025, Perseroan menerapkan pengaturan In 2025, the Company implemented working days and
hari dan waktu kerja Karyawan berdasarkan Peraturan hours arrangements based on the 2024–2026 Company
Perusahaan Tahun 2024–2026 melalui skema Hybrid Regulation through a Hybrid Working Arrangement
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Working Arrangement (HWA). Pengaturan ini memberikan (HWA) scheme. This arrangement provides flexibility in
fleksibilitas pola kerja dengan tetap memastikan working patterns while ensuring smooth operations and
kelancaran operasional dan pencapaian kinerja organizational performance.
organisasi.
Pelaksanaan HWA didukung oleh Employee Condition The implementation of HWA is supported by the Employee
Monitoring System (ECMS) sebagai sistem pencatatan Condition Monitoring System (ECMS), which records
kehadiran Karyawan, baik dalam skema Work from Office employee attendance under both Work from Office (WFO)
(WFO) maupun Work from Anywhere (WFA). Melalui sistem and Work from Anywhere (WFA) schemes. Through this
ini, Perseroan dapat memantau kepatuhan terhadap system, the Company monitors compliance with working
ketentuan jam kerja serta mendukung penerapan disiplin hours and supports consistent work discipline.
kerja secara konsisten.
Sepanjang tahun 2025, penerapan HWA berjalan Throughout 2025, the implementation of HWA ran
dengan baik dan terkendali. Hal ini tercermin dari tingkat effectively and under control, as reflected in an on-time
kehadiran tepat waktu Karyawan yang mencapai 83,38%. attendance rate of 83.38%. The Company continues to
Perseroan terus melakukan evaluasi dan optimalisasi evaluate and optimize HWA implementation to create
atas pelaksanaan HWA guna menciptakan lingkungan a productive, orderly, and value-aligned working
kerja yang produktif, tertib, dan selaras dengan nilai-nilai environment.
budaya Perusahaan.
Employee Engagement Survey Employee Engagement Survey
Employee Engagement Survey (EES) digunakan Perseroan The Employee Engagement Survey (EES) is used
untuk secara berkala mengukur tingkat kepuasan dan periodically to measure employee satisfaction and
keterikatan karyawan di seluruh jenjang organisasi. Survei engagement across all organizational levels. The survey
ini dirancang guna memperoleh pemahaman yang is designed to provide a comprehensive understanding of
komprehensif mengenai tingkat keterhubungan karyawan employee connectivity with the Company and to identify
dengan Perseroan, sekaligus mengidentifikasi area-area areas requiring improvement.
yang memerlukan perhatian dan penyempurnaan.
Pada proses pelaksanaannya, karyawan diberikan In its implementation, employees are given the
ruang untuk menyampaikan pandangan dan masukan opportunity to provide open and objective feedback on
secara terbuka serta objektif terhadap berbagai aspek various aspects of their work, including both effective
pekerjaan, baik terkait praktik yang telah berjalan practices and areas needing improvement. The results
efektif maupun hal-hal yang masih perlu ditingkatkan. of the Employee Engagement Survey (EES) provide a
Hasil EES memberikan gambaran mengenai kekuatan comprehensive overview of the Company’s internal
internal Perseroan serta peluang perbaikan yang dapat strengths as well as opportunities for improvement.
dilakukan. Temuan tersebut selanjutnya dimanfaatkan These findings are subsequently utilized as the basis for
sebagai dasar penyusunan langkah-langkah strategis formulating strategic measures aimed at enhancing the
guna meningkatkan kinerja Perseroan, menciptakan Company’s performance, fostering a more comfortable
lingkungan kerja yang lebih nyaman dan kondusif, serta and conducive working environment, and driving
mendorong produktivitas karyawan secara berkelanjutan. sustainable employee productivity. PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Topik-topik yang dievaluasi dalam survei ini meliputi: The topics evaluated in this survey include:
1. Career Development 1. Career Development
Pada topik ini, pertanyaan dirancang untuk Under this topic, the questions are designed
mengevaluasi apakah Perseroan telah memberikan to assess whether the Company has provided
kesempatan yang memadai bagi karyawan adequate opportunities for employees to develop
dalam mengembangkan kompetensi melalui their competencies through training and learning
program pelatihan dan pembelajaran. Selain itu, programs. In addition, the aspect of support from
aspek dukungan dari atasan juga menjadi fokus, supervisors is also a focus, including through training
termasuk melalui sesi pelatihan, briefing pagi, serta sessions, morning briefings, and unit or division
pertemuan unit atau divisi. Survei ini juga mengukur meetings. The survey also measures the extent to
sejauh mana karyawan merasa memiliki peluang which employees feel they have opportunities to
untuk mengembangkan karier mereka di Perseroan, develop their careers within the Company, supported
didukung oleh akses terhadap program pelatihan by access to training programs relevant to their roles
yang relevan dengan pekerjaan serta penyediaan and the provision of annual development and training
rencana pengembangan dan pelatihan tahunan. plans.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
2. Compensation Management 2. Compensation Management
Pada topik ini, pertanyaan dirancang untuk menilai Under this topic, the questions are designed to assess
apakah Perseroan telah menyediakan fasilitas whether the Company has provided adequate facilities
yang memadai bagi karyawan. Selain itu, survei for employees. In addition, the survey measures
juga mengukur persepsi karyawan terhadap daya employees’ perceptions of the competitiveness of
saing kompensasi dan manfaat yang diberikan, the compensation and benefits provided, as well as
serta kesesuaiannya dengan tanggung jawab dan their alignment with the responsibilities and roles
pekerjaan yang mereka jalankan. they carry out.
3. Relationship Management 3. Relationship Management
Pada topik ini, pertanyaan dirancang untuk menilai Under this topic, the questions are designed to assess
persepsi karyawan terhadap keberlanjutan employees’ perceptions of the sustainability of the
pengembangan organisasi Perseroan. Responden Company’s organizational development. Respondents
juga diminta untuk mengungkapkan tingkat are also asked to express their level of trust in their
kepercayaan mereka terhadap kepemimpinan supervisors’ leadership, the extent to which the
atasan, sejauh mana Perseroan menunjukkan Company demonstrates care for employees, and
perhatian terhadap karyawan, serta apakah mereka whether they feel valued as individuals within the
merasa dihargai sebagai individu dalam organisasi. organization. In addition, the survey evaluates whether
Selain itu, survei mengevaluasi apakah kerja sama di workplace collaboration is based on equality, mutual
lingkungan kerja didasarkan pada kesetaraan, sikap respect, and appreciation. Lastly, the questions aim
saling menghormati, dan penghargaan. Terakhir, to confirm whether employees receive recognition
pertanyaan juga bertujuan untuk mengonfirmasi or appreciation from their supervisors for their
apakah karyawan menerima pengakuan atau performance.
apresiasi dari atasan atas kinerja yang telah mereka
berikan.
4. Work Engagement 4. Work Engagement
Bagian ini dirancang untuk menggali sejauh mana This section is designed to explore the extent to which
karyawan merasa bangga bekerja di Perseroan employees feel proud to work for the Company, which
yang berperan penting dalam pembangunan plays an important role in national development.
nasional. Selain itu, survei juga mengeksplorasi In addition, the survey examines whether the
apakah Perseroan mampu memotivasi karyawan Company can motivate employees to contribute
untuk berkontribusi lebih dari yang diharapkan beyond expectations and whether they are willing
dan apakah mereka bersedia merekomendasikan to recommend the Company as a good place to
Perseroan sebagai tempat kerja yang baik work to others. Employees are also asked to share
kepada orang lain. Karyawan juga diminta untuk their views on their expected length of service with
mengungkapkan pandangan mereka terkait durasi the Company, business prospects over the next
masa kerja di Perseroan, prospek bisnis dalam 2-3 2–3 years, and their confidence in the Company’s
tahun mendatang, serta keyakinan terhadap strategi current strategy and objectives. Furthermore, the
dan tujuan perusahaan saat ini. Selain itu, survei survey assesses employees’ understanding of the link
menilai pemahaman karyawan mengenai hubungan between their work and the Company’s strategy and
antara pekerjaan mereka dengan strategi dan tujuan objectives, as well as their perceptions of the quality of
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Perseroan, serta persepsi mereka terhadap kualitas the Company’s products and/or services. Finally, the
produk dan/atau layanan yang diberikan Perseroan. survey evaluates whether the Division in which they
Terakhir, survei berfokus pada evaluasi apakah Divisi work actively strives to deliver high-quality products
tempat mereka bekerja telah berupaya secara aktif and services and demonstrates a strong orientation
dalam menyediakan produk dan layanan berkualitas toward understanding and meeting customer needs.
tinggi, serta memiliki orientasi yang kuat dalam
memahami dan memenuhi kebutuhan pelanggan.
5. Work Environment 5. Work Environment
Bagian terakhir dari Employee Engagement Survey The final section of the Employee Engagement Survey
bertujuan untuk mengukur tingkat kepercayaan aims to measure employees’ confidence in carrying
karyawan dalam menjalankan tugas mereka secara out their tasks effectively, as well as the extent to which
efektif, serta sejauh mana Perseroan memberikan the Company provides opportunities and flexibility for
kesempatan dan fleksibilitas bagi mereka untuk them to express ideas and create innovations in their
menyampaikan ide serta menciptakan inovasi dalam ways of working. In addition, this section explores the
cara bekerja. Selain itu, bagian ini mengeksplorasi availability of necessary resources, such as facilities,
ketersediaan sumber daya yang diperlukan, equipment, and infrastructure, to support employees
seperti fasilitas, peralatan, dan infrastruktur, guna in performing their work optimally. The survey also
mendukung karyawan dalam menjalankan pekerjaan assesses whether employees receive the information
mereka secara optimal. Survei juga menilai apakah they need to perform their work effectively. From a
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karyawan mendapatkan informasi yang mereka teamwork perspective, employees are given the
butuhkan untuk bekerja dengan baik. Dari aspek kerja opportunity to evaluate the level of collaboration
tim, karyawan diberikan kesempatan untuk menilai within their work groups, including whether they feel
tingkat kolaborasi dalam kelompok kerja mereka. valued as part of the team and whether collaboration
Hal ini mencakup apakah mereka merasa dihargai and activities within the Company are well organized
sebagai bagian dari tim, serta apakah kerja sama dan and structured.
aktivitas di Perseroan telah terorganisir dan terstruktur
dengan baik.
Tahun 2025, PT SMI melaksanakan EES yang diikuti In 2025, PT SMI conducted the Employee Engagement
oleh 399 karyawan dari berbagai jenjang di seluruh Survey (EES), which was participated in by 399 employees
Perseroan. Hasil survei menunjukkan tingkat across various levels throughout the Company. The survey
keterikatan karyawan sebesar 79%, yaitu mengalami results showed an employee engagement level of 79%,
penurunan dibandingkan capaian tahun sebelumnya representing a decrease compared to the previous year’s
yang berada di angka 80%. achievement of 80%.
Kesetaraan dan Non-Diskriminasi Equality and Non-Discrimination
PT SMI berkomitmen menerapkan prinsip kesetaraan dan PT SMI is committed to implementing principles of equality
non-diskriminasi dalam seluruh aspek pengelolaan SDM. and non-discrimination across all aspects of human
Setiap karyawan memperoleh kesempatan yang sama capital management. Employees are provided equal
dalam proses rekrutmen, pengembangan, penilaian opportunities in recruitment, development, performance
kinerja, dan pengelolaan karier tanpa membedakan latar evaluation, and career management, regardless of
belakang, gender, agama, atau kondisi lainnya, sesuai background, gender, religion, or other conditions, in
dengan ketentuan yang berlaku. accordance with applicable regulations.
Pekerja Anak dan Pekerja Muda Child and Young Workers
PT SMI menjunjung tinggi kepatuhan terhadap seluruh PT SMI upholds full compliance with all applicable laws
peraturan dan ketentuan yang berlaku, termasuk and regulations, including those related to employment.
dalam hal ketenagakerjaan. Dalam rangka memastikan To ensure such compliance, the Company sets the
kepatuhan tersebut, Perseroan menetapkan usia minimum employee age at 18 (eighteen) years. Based
minimum karyawan sebesar 18 (delapan belas) tahun. on employee demographic data in 2025, the youngest
Berdasarkan data demografi karyawan pada tahun employee was recorded to be 24 (twenty-four) years old.
2025, karyawan termuda tercatat berusia 24 (dua puluh
empat) tahun.
Exit Interview Exit Interview
Sebagai bagian dari pengelolaan hubungan kerja yang As part of maintaining constructive employment relations,
konstruktif, PT SMI melaksanakan proses exit interview PT SMI conducts exit interviews for employees who end
bagi karyawan yang mengakhiri hubungan kerja. Exit their employment with the Company. The exit interview
interview dilakukan sebagai sarana komunikasi dan serves as a communication and feedback mechanism to
umpan balik untuk memahami pengalaman kerja understand employees’ work experiences, identify areas
karyawan, mengidentifikasi area perbaikan, serta for improvement, and enhance the quality of human PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
memperkuat kualitas kebijakan dan praktik pengelolaan capital policies and practices within the Company. The
SDM di Perseroan. Hasil exit interview menjadi salah results of the exit interviews serve as input for continuous
satu masukan dalam evaluasi berkelanjutan guna evaluation to improve employee engagement and
meningkatkan keterlibatan dan kepuasan karyawan. satisfaction.
Turnover Karyawan Employee Turnover
PT SMI secara konsisten berupaya menjaga tingkat PT SMI consistently strives to maintain employee turnover
turnover karyawan pada level yang terkendali guna at a controlled level to support organizational stability and
mendukung stabilitas organisasi dan keberlanjutan operational sustainability. These efforts are carried out
operasional. Upaya tersebut dilakukan melalui penerapan through the implementation of comprehensive human
berbagai kebijakan serta program pengelolaan SDM capital management policies and programs within the
yang komprehensif di lingkungan internal. Company.
Sepanjang tahun 2025, tercatat sebanyak 18 (delapan Throughout 2025, a total of 18 (eighteen) employees
belas) karyawan mengakhiri hubungan kerja dengan ended their employment with the Company, with varied
Perseroan, dengan latar belakang yang beragam, di backgrounds, including 4 (four) employees who entered
antaranya 4 (empat) orang memasuki masa purnabakti, retirement, 1 (one) employee who passed away, and 13
1 (satu) orang meninggal dunia, dan 13 (tiga belas) (thirteen) others who resigned. The number of employees
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
orang lainnya mengundurkan diri. Adapun jumlah who left during the period is further classified based on
karyawan yang keluar pada periode tersebut selanjutnya position level and gender as follows:
diklasifikasikan berdasarkan jenjang jabatan dan jenis
kelamin, sebagai berikut:
Jumlah Karyawan Mengakhiri Hubungan Kerja Berdasarkan Jenjang Jabatan
Number of Employees Leaving the Company by Position Level
Jenjang Jabatan
2025 2024 2023
Position Level
Kepala Divisi
1 1 1
Head of Division
Team Leader 2 0 2
Staff 15 8 13
Jumlah
18 9 16
Total
Jumlah Karyawan Mengakhiri Hubungan Kerja Berdasarkan Gender
Number of Employees Leaving the Company by Gender
Jenjang Jabatan
2025 2024 2023
Position Level
Pria
12 6 7
Male
Wanita
6 3 9
Female
Jumlah
18 9 16
Total
Berdasarkan data di atas, tingkat turnover PT SMI pada Berdasarkan data di atas, tingkat turnover PT SMI pada
tahun 2025 tercatat sebesar 4,21%. tahun 2025 tercatat sebesar 4,21%.
Kompensasi, Benefit, dan Kesejahteraan Compensation, Benefits, and Welfare
Kesejahteraan Karyawan Employee Welfare
Sistem remunerasi yang diterapkan PT SMI dirancang The remuneration system implemented by PT SMI is
untuk memotivasi serta mempertahankan talenta designed to motivate and retain top talent while fulfilling
terbaik sekaligus memenuhi kebutuhan akan SDM the need for high-quality human capital. Remuneration
yang berkualitas. Remunerasi diberikan dengan is provided by considering individual performance,
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
mempertimbangkan kinerja individu, kinerja Perseroan, Company performance, risks related to performance
risiko terkait pencapaian kinerja, serta level kepangkatan achievement, as well as rank level and job position (job
dan posisi pekerjaan (job grade), sehingga mendorong grade), thereby encouraging optimal and sustainable
pencapaian kinerja yang optimal dan berkelanjutan. performance.
Guna menjaga relevansi dengan pasar dan kebutuhan To maintain alignment with market conditions and
organisasi, strategi remunerasi dievaluasi secara berkala. organizational needs, the remuneration strategy is
Divisi SDM bekerja sama dengan pihak ketiga independen evaluated periodically. The Human Capital Division
dan kompeten melakukan salary survey sebagai dasar collaborates with independent and competent third
penyesuaian remunerasi, termasuk bagi karyawan di parties to conduct salary surveys as the basis for
level eksekutif dan senior. Evaluasi ini memastikan sistem remuneration adjustments, including for executive and
remunerasi tetap kompetitif, adil, seimbang, berbasis senior-level employees. This evaluation ensures that the
risiko, dan selaras dengan ketentuan pemerintah. remuneration system remains competitive, fair, balanced,
risk-based, and aligned with government regulations.
Struktur dan skala upah Perseroan disesuaikan dengan The Company’s wage structure and scale are adjusted
peraturan ketenagakerjaan yang berlaku, sedangkan in accordance with applicable labor regulations, while
kebijakan remunerasi untuk Direksi dan Dewan Komisaris remuneration policies for the Board of Directors and Board
mengacu pada Peraturan Menteri Keuangan No. 200 of Commissioners refer to Regulation of the Minister of
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Tahun 2018. Dengan pendekatan ini, Perseroan mampu Finance No. 200 of 2018. Through this approach, the
menjaga keseimbangan antara kepuasan karyawan Company maintains a balance between employee
dan keberlanjutan bisnis. satisfaction and business sustainability.
Sepanjang tahun 2025, Perseroan menerapkan strategi Throughout 2025, the Company implemented its
remunerasi melalui pemberian pay & benefit yang remuneration strategy by providing competitive and
kompetitif dan sesuai peraturan untuk memperkuat daya compliant pay and benefits to strengthen competitiveness,
saing, meningkatkan keterlibatan, serta mempertahankan enhance engagement, and retain high-performing and
karyawan berkinerja tinggi dan berpotensi. Berbagai high-potential employees. Additional benefits are also
manfaat tambahan juga diberikan untuk memastikan provided to ensure employees receive added value for
karyawan memperoleh nilai lebih dari kontribusinya their contributions and to support the achievement of
dan mendukung pencapaian tujuan organisasi secara overall organizational objectives, including:
keseluruhan, antara lain:
1. Asuransi Jiwa 1. Life Insurance
2. Asuransi Kesehatan 2. Health Insurance
3. Tunjangan Hari Raya (THR) 3. Religious Holiday Allowance (THR)
4. Tunjangan Transportasi 4. Transportation Allowance
5. Tunjangan Jabatan 5. Position Allowance
6. Tunjangan Baju Kerja 6. Work Attire Allowance
7. Tunjangan Cuti Tahunan 7. Annual Leave Allowance
8. Tunjangan Cuti Besar yang diberikan setelah masa 8. Long Leave Allowance granted after 6 years of service
kerja 6 tahun
9. Dana Pensiun Lembaga Keuangan 9. Financial Institution Pension Fund
Apresiasi dan promosi karyawan yang dilakukan PT SMI Employee recognition and promotion at PT SMI are carried
sesuai dengan ketentuan internal Perseroan, dengan out in accordance with the Company’s internal policies,
mempertimbangkan kinerja serta kontribusi individu considering individual performance and contributions
terhadap kemajuan organisasi. to organizational progress.
Selain itu, Perseroan bekerja sama dengan penyedia jasa In addition, the Company collaborates with outsourcing
outsourcing untuk mendukung kelancaran operasional service providers to support the smooth operation of
kantor. Tenaga kerja outsourcing ini berperan dalam office activities. Outsourced personnel are involved in
berbagai kegiatan general service, termasuk office boy/ various general service functions, including office boy/
girl, messenger, cleaning service, security, serta posisi girl, messenger, cleaning service, security, as well as
pendukung lainnya seperti driver dan staf administrasi supporting roles such as drivers and administrative
(receptionist, admin DSDM, dan sejenisnya). Adapun staff (receptionist, Human Capital administration, and
hak-hak yang diterima oleh tenaga kerja outsourcing similar roles). The rights received by outsourced personnel
mencakup: include:
1. Gaji Pokok; 1. Basic Salary;
2. Tunjangan Fungsional, Operasional, & Sewa Motor; 2. Functional, Operational, and Motorcycle Rental
Allowances;
3. BPJS; 3. BPJS (social security); PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
4. Fasilitas Tunjangan Hari Raya, Rawat Inap, Pesangon, 4. Benefits including Religious Holiday Allowance,
& Medical Check-up. hospitalization coverage, severance pay, and medical
check-ups.
Kebijakan Cuti Leave Policy
Perseroan menyediakan berbagai kebijakan cuti di luar The Company provides various leave policies beyond
cuti tahunan untuk mendukung keseimbangan antara annual leave to support work-life balance. These include
pekerjaan dan kehidupan keluarga. Jenis cuti tersebut long leave, sick leave, marriage leave, maternity leave,
mencakup cuti besar, cuti sakit, cuti menikah, cuti bereavement leave, religious leave, leave for a child’s
melahirkan, cuti karena meninggalnya anggota keluarga, circumcision, and unpaid leave. Specifically, maternity
cuti ibadah, cuti untuk sunatan anak, hingga unpaid leave and paternity leave (for male employees
leave (cuti diluar tanggungan). Khusus cuti melahirkan accompanying their spouses during childbirth) are
(maternity leave) dan cuti bagi karyawan laki-laki yang granted in accordance with applicable laws and
menemani istri melahirkan (paternity leave), pengaturan regulations.
dilakukan sesuai dengan peraturan dan perundang-
undangan yang berlaku.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
Dalam penerapannya, karyawan perempuan berhak atas In its implementation, female employees are entitled to
cuti melahirkan selama 3 bulan, yang terdiri dari 1,5 bulan 3 months of maternity leave, consisting of 1.5 months
sebelum persalinan dan 1,5 bulan setelah persalinan, before childbirth and 1.5 months after childbirth, based
berdasarkan rekomendasi dokter kandungan atau bidan on recommendations from the attending obstetrician or
yang merawat. Sementara bagi karyawan perempuan midwife. Meanwhile, female employees who experience
yang mengalami keguguran, Perseroan memberikan a miscarriage are entitled to 1.5 months of leave or as
cuti istirahat selama 1,5 bulan atau sesuai dengan surat recommended by the attending obstetrician or midwife.
keterangan dari dokter kandungan atau bidan.
Dukungan Teknologi Informasi dalam Information Technology Support in
Pelaksanaan Administrasi dan Layanan the Implementation of Human Capital
Sumber Daya Manusia Administration and Services
Perseroan memanfaatkan dukungan teknologi informasi The Company leverages information technology to
untuk memperkuat pengelolaan administrasi dan layanan strengthen the integrated management of human capital
Sumber Daya Manusia secara terintegrasi. Pemanfaatan administration and services. The use of digital systems
sistem digital ini bertujuan untuk meningkatkan akurasi aims to improve data accuracy, process efficiency, and
data, efisiensi proses, serta mendukung pengambilan support data-driven management decision-making.
keputusan manajemen yang berbasis informasi.
Dalam pengelolaan data dan proses SDM, Perseroan In managing human capital data and processes, the
mengembangkan dan mengimplementasikan Human Company has developed and implemented the Human
Capital Information System (HCIS) sebagai sistem Capital Information System (HCIS) as the primary system
utama pengelolaan informasi kepegawaian. Sepanjang for employee information management. Throughout
tahun 2025, Perseroan menyelesaikan pengembangan 2025, the Company completed the development of the
modul Recruitment dan Performance Management Recruitment and Performance Management modules,
yang sebelumnya telah direncanakan, sehingga which had been previously planned, enabling the
proses pengelolaan kinerja individu karyawan, mulai integration of individual performance management
dari penyusunan kesepakatan kinerja hingga evaluasi processes—from performance agreement setting to
kinerja tahunan, telah terintegrasi dalam satu sistem. annual evaluation—within a single system.
Selain modul utama tersebut, HCIS juga dilengkapi In addition to these core modules, HCIS is equipped with
dengan berbagai fitur pendukung, antara lain kalender various supporting features, including a human capital
kegiatan SDM, penguatan fungsi pelaporan pembelajaran activity calendar, enhanced learning reporting functions
yang terintegrasi dengan Learning Management integrated with the Learning Management System
System (LMS), pengelolaan komponen penggajian, (LMS), payroll component management, and coaching
serta fitur monitoring coaching sebagai bagian dari monitoring features as part of leadership development
pengembangan kepemimpinan dan peningkatan kinerja and employee performance improvement.
karyawan.
Di sisi dukungan sistem, Perseroan mengembangkan On the systems support side, the Company has developed
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Employee Condition Monitoring System (ECMS) sebagai the Employee Condition Monitoring System (ECMS) to
bagian dari penguatan administrasi dan layanan SDM. strengthen human capital administration and services.
ECMS berfungsi sebagai sistem pendukung pencatatan ECMS functions as a system for recording attendance and
kehadiran dan pemantauan kondisi karyawan, serta monitoring employee conditions, as well as serving as an
sebagai basis data administratif yang menunjang administrative database to support the implementation
pelaksanaan kebijakan ketenagakerjaan dan pengaturan of labor policies and work arrangements established by
kegiatan kerja yang telah ditetapkan oleh Perseroan. the Company.
Ke depan, ECMS juga dikembangkan sebagai salah satu Going forward, ECMS is also being developed as an
media komunikasi internal DSDM, termasuk sebagai internal communication platform for the Human Capital
sarana penyampaian pengumuman dan penyaluran Division, including as a medium for announcements
aspirasi karyawan, guna mendukung peningkatan and employee feedback, to enhance engagement and
keterlibatan karyawan sekaligus mendukung terciptanya support more effective, transparent, and responsive
komunikasi internal yang lebih efektif, transparan, dan internal communication.
responsif.
Sementara itu, dalam mendukung pengembangan Meanwhile, to support employee competency
kompetensi karyawan, Perseroan melanjutkan development, the Company continues to enhance the
pengembangan Learning Management System (LMS) Learning Management System (LMS) launched in the
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yang telah diluncurkan pada tahun sebelumnya. Pada previous year. In 2025, LMS was further developed with the
tahun 2025, LMS dikembangkan melalui penambahan addition of gamification features designed to increase
fitur gamifikasi yang dirancang untuk meningkatkan interactivity, encourage active participation, and motivate
interaktivitas, mendorong partisipasi aktif, serta employees to continuously engage in training programs.
memotivasi Karyawan dalam mengikuti program
pelatihan secara berkelanjutan.
Integrasi dan penyempurnaan HCIS, ECMS, dan LMS The integration and enhancement of HCIS, ECMS, and
mencerminkan komitmen Perseroan dalam membangun LMS reflect the Company’s commitment to building
sistem manajemen SDM yang terpadu, efektif, dan adaptif an integrated, effective, and adaptive human capital
terhadap kebutuhan organisasi, guna mendukung management system to support employee capability
peningkatan kapabilitas karyawan serta pencapaian development and the achievement of the Company’s
tujuan strategis Perseroan secara berkelanjutan. strategic objectives on a sustainable basis.
Pemutusan Hubungan Kerja dan Purna Termination of Employment and
Retirement
Pengakhiran Hubungan Kerja Termination of Employment
Perseroan mengelola pengakhiran hubungan kerja The Company manages employment termination in
secara tertib, profesional, dan sesuai dengan ketentuan an orderly, professional manner and in accordance
peraturan perundang-undangan yang berlaku. with applicable laws and regulations. Termination of
Pengakhiran hubungan kerja dapat terjadi karena employment may occur due to resignation, the end of
pengunduran diri, berakhirnya masa kerja, maupun employment tenure, or other reasons as stipulated in the
sebab lain yang diatur dalam kebijakan dan peraturan Company’s policies and labor regulations.
ketenagakerjaan Perseroan.
Dalam setiap proses pengakhiran hubungan kerja, In every termination process, the Company ensures
Perseroan memastikan pemenuhan hak dan kewajiban that employees’ rights and obligations are fulfilled in a
karyawan dilaksanakan secara transparan dan adil. transparent and fair manner. The Company also upholds
Perseroan juga menjunjung prinsip penghormatan respect for employees throughout the termination process
terhadap karyawan hingga berakhirnya hubungan kerja, as part of its commitment to maintaining harmonious
sebagai bagian dari komitmen menjaga hubungan industrial relations.
industrial yang harmonis.
Sebagai bagian dari proses tersebut, Perseroan As part of this process, the Company conducts exit
melaksanakan exit interview untuk memperoleh umpan interviews to obtain feedback from employees who are
balik dari karyawan yang mengakhiri hubungan kerja. ending their employment. The information obtained is
Informasi yang diperoleh digunakan sebagai bahan used as input for evaluating and continuously improving
evaluasi dalam penyempurnaan kebijakan dan praktik human capital policies and management practices.
pengelolaan SDM secara berkelanjutan.
Program Purna Bakti Retirement Program PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Perseroan memberikan perhatian terhadap karyawan The Company provides attention to employees entering
yang memasuki masa purna bakti sebagai bentuk retirement as a form of appreciation for their contributions
apresiasi atas kontribusi yang telah diberikan selama during their tenure. One such initiative is the Pre-
masa kerja. Salah satu upaya tersebut diwujudkan Retirement Preparation Program, which is designed for
melalui pelaksanaan Program Masa Persiapan Pensiun permanent employees approaching retirement age and
yang ditujukan bagi karyawan tetap yang mendekati also involves their spouses.
usia pensiun, termasuk dengan melibatkan pasangan
karyawan.
Melalui program ini, peserta memperoleh pembekalan Through this program, participants receive comprehensive
yang komprehensif untuk menghadapi masa pensiun, preparation for retirement, including financial
antara lain terkait pengelolaan keuangan, kesiapan management, mental and psychological readiness,
mental dan psikologis, serta pemahaman atas berbagai and an understanding of various potential activities
peluang kegiatan atau usaha sebagai bagian dari or business opportunities as part of post-employment
persiapan masa purna tugas. Perseroan memastikan planning. The Company ensures that the retirement
pelaksanaan program purna bakti dilaksanakan secara program is implemented in a structured manner and in
terencana dan selaras dengan ketentuan yang berlaku. accordance with applicable regulations.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
PROGRAM STRATEGIS STRATEGIC PROGRAMS OF THE
DIVISI SDM TAHUN 2025 HUMAN CAPITAL DIVISION IN 2025
Kunci utama keberhasilan pengelolaan Perseroan The key to the Company’s successful management lies
terletak pada kualitas sumber daya manusia yang in the quality of its human capital, which possesses the
memiliki kapasitas dan kapabilitas dalam mendukung capacity and capability to support the achievement of
pencapaian visi dan misi Perseroan. Dalam rangka the Company’s vision and mission. In implementing this
pelaksanaan filosofi pengelolaan SDM tersebut, human capital management philosophy, the Company
Perseroan melaksanakan penyusunan strategi dan develops organizational strategies and policies for
kebijakan pengembangan organisasi baik jangka both the short and long term, ensures the fulfillment
pendek maupun jangka panjang, pemenuhan Karyawan of competent and high-integrity employees, designs
yang berkompeten dan berintegritas, penyusunan and implements competency development programs,
dan pelaksanaan pengembangan kompetensi SDM, establishes performance management and remuneration
sistem manajemen kinerja dan sistem remunerasi yang systems that drive employee productivity, develops talent
mendorong produktivitas Karyawan, pengembangan and succession planning, and builds a work culture that
talent dan penyiapan suksesi, serta membangun budaya supports the achievement of the Company’s targets.
kerja yang mendukung pencapaian target-target
Perseroan.
Selain mendukung keberhasilan pengelolaan Perseroan, In addition to supporting the Company’s operational
seluruh strategi, kebijakan, dan kegiatan pengelolaan success, all human capital strategies, policies, and
SDM sebagaimana dimaksud harapannya dapat initiatives are expected to establish a strong Employee
mewujudkan Employee Value Proposition (EVP) yang Value Proposition (EVP) to attract and retain the
kuat dalam menarik dan mempertahankan talenta Company’s top talent.
terbaik Perseroan.
TANTANGAN YANG DIHADAPI CHALLENGES FACED BY THE HUMAN
DIVISI SDM TAHUN 2025 CAPITAL DIVISION IN 2025
Selama tahun 2025, Divisi SDM dihadapkan pada sejumlah Throughout 2025, the Human Capital Division faced
tantangan strategis yang menuntut kemampuan several strategic challenges requiring rapid adaptation
adaptasi yang cepat seiring dengan agenda transformasi in line with the Company’s transformation agenda and
dan dinamika perubahan yang berlangsung di Perseroan. ongoing changes.
Tantangan utama yang dihadapi adalah membangun The primary challenge was to build a strong foundation
fondasi kapabilitas inti yang kuat, didukung oleh integritas of core capabilities, supported by integrity and
dan kelincahan organisasi, guna memastikan kesiapan organizational agility, to ensure the Company’s readiness
Perseroan dalam menghadapi kebutuhan masa depan to meet future demands and support sustainable
dan mendukung transformasi bisnis secara berkelanjutan. business transformation. This effort is aimed at creating
Upaya ini diarahkan untuk membentuk Perseroan yang a more agile organizational structure and a workforce
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
memiliki struktur kerja yang lebih lincah serta sumber capable of adapting to change.
daya manusia yang siap dan mampu beradaptasi
terhadap perubahan.
Tantangan berikutnya adalah memberdayakan para Another challenge was to empower leaders and
pemimpin dan karyawan agar dapat mengoptimalkan employees to maximize their potential through
potensi yang dimiliki melalui penguatan budaya strengthening a coaching culture and enhancing
coaching serta peningkatan keterlibatan karyawan employee engagement based on the Employee Value
yang berlandaskan pada Employee Value Proposition Proposition (EVP). Through this approach, the Company
(EVP). Melalui pendekatan ini, Perseroan mendorong aims to foster empowered and actively engaged
terciptanya pemimpin dan karyawan yang berdaya, leaders and employees, supported by meaningful work
terlibat secara aktif, serta didukung oleh pengalaman experiences and increasingly data-driven human capital
kerja yang bermakna dan pengambilan keputusan SDM decision-making.
yang semakin berbasis data.
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Selain itu, Divisi SDM juga dihadapkan pada tantangan In addition, the Human Capital Division faced the challenge
untuk mendorong inovasi dan kinerja berkelanjutan of driving innovation and sustainable performance
melalui pengembangan organisasi yang tepercaya,, through the development of a trusted, future-ready,
siap menghadapi masa depan, dan berorientasi pada and people-centered organization. This effort is directed
manusia (people-centered). Tantangan ini diarahkan toward building an innovative and resilient organization,
untuk membangun organisasi yang inovatif dan tangguh, where collaboration, continuous improvement, and
di mana kolaborasi, perbaikan berkelanjutan, serta trust are embedded in both the Company’s culture and
kepercayaan menjadi bagian yang melekat dalam performance.
budaya kerja dan kinerja Perseroan.
PENCAPAIAN KINERJA PERFORMANCE ACHIEVEMENT OF THE
DIVISI SDM TAHUN 2025 HUMAN CAPITAL DIVISION IN 2025
Sepanjang tahun 2025, DSDM mencatat sejumlah Throughout 2025, the Human Capital Division recorded
pencapaian kinerja yang mencerminkan keberhasilan several key achievements reflecting the successful
implementasi strategi dan program SDM dalam implementation of human capital strategies and
mendukung tujuan Perseroan. Pencapaian utama programs in supporting the Company’s objectives. These
tersebut antara lain: achievements include:
• Perbaikan Sistem Pengukuran Kinerja • Improvement of Performance Measurement System
Peningkatan ketepatan waktu dan kualitas proses Enhancing timeliness and quality of performance
pengukuran kinerja guna memastikan penilaian yang measurement processes to ensure more objective,
lebih objektif, terstruktur, dan selaras dengan strategi structured, and strategy-aligned evaluations.
Perseroan.
• Optimalisasi Learning and Development • Optimization of Learning and Development
Penguatan program pengembangan kompetensi Strengthening competency development programs
melalui pemanfaatan LMS serta pelaksanaan through the utilization of the Learning Management
Leadership Development Program bagi Team Leader. System (LMS) and the implementation of Leadership
Development Programs for Team Leaders.
• Penerapan Jabatan Fungsional dan Penataan • Implementation of Functional Positions and
Organisasi Organizational Structuring
Implementasi jabatan fungsional serta tindak lanjut Establishing functional roles and following up on
atas kajian struktur organisasi agar tetap relevan, organizational structure reviews to ensure relevance,
adaptif, dan selaras dengan strategi Perseroan. adaptability, and alignment with the Company’s
strategy.
• Penguatan Kepercayaan Karyawan (Trust) • Strengthening Employee Trust
Penerapan kebijakan dan praktik pengelolaan SDM Implementing transparent, consistent, and fair human
yang transparan, konsisten, dan berkeadilan guna capital policies and practices to build trust among all
membangun kepercayaan seluruh karyawan PT SMI. PT SMI employees.
Penyempurnaan Compensation and Benefit
• Penerapan kebijakan remunerasi yang jelas dan • Enhancement of Compensation and Benefits
terstruktur melalui benchmarking dengan market Implementing clear and structured remuneration PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
yang relevan serta mengacu pada best practice, guna policies through benchmarking with relevant markets
memastikan daya saing, keadilan, dan keberlanjutan. and best practices to ensure competitiveness, fairness,
Penerapan Hubungan Industrial yang Sehat and sustainability.
• Pemeliharaan hubungan industrial yang harmonis • Implementation of Healthy Industrial Relations
melalui dialog konstruktif, kepatuhan terhadap Maintaining harmonious industrial relations through
ketentuan ketenagakerjaan, serta penghormatan constructive dialogue, compliance with labor
terhadap hak dan kewajiban para pihak. regulations, and respect for the rights and obligations
of all parties.
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04 Analisis dan Pembahasan Manajemen
Management Discussion and Analysis
ROADMAP DAN RENCANA HUMAN CAPITAL DEVELOPMENT
PENGEMBANGAN SDM KE DEPAN ROADMAP AND FUTURE PLANS
Pencapaian pertumbuhan usaha Perseroan yang Optimal business growth can be achieved through the
optimal dapat dicapai dengan penyelarasan alignment of strategic development across all business
pengembangan strategis di semua unsur usaha, elements, including human capital development.
termasuk pengembangan SDM. Memandang ke depan, Looking ahead, the Company has established a Human
Perseroan telah menyusun Roadmap Pengembangan Capital Development Roadmap as the foundation
SDM sebagai dasar pengelolaan SDM selaras dengan for managing human capital in alignment with the
roadmap transformasi Perseroan. Adapun Roadmap Company’s transformation roadmap. The Human Capital
Pengembangan SDM sebagai berikut: Development Roadmap is as follows:
2024-2025 2026-2027 2028-2029
Build & Strengthen Grow & Empower Sustain Growth
Capability & Agility Leader and People & Strengthen Trust
Membangun fondasi yang kuat atas kapabilitas Memberdayakan pemimpin dan pegawai Mendorong inovasi dan kinerja berkelanjutan
inti, integritas dan kelincahan organisasi untuk untuk mengoptimalkan potensi mereka melalui organisasi yang terpercaya, siap
mendukung future readiness serta transformasi melalui kegiatan coaching, dan keterlibatan menghadapi masa depan, dan berorientasi
bisnis. berlandaskan pada Employee Value Proposition pada manusia (people-centered).
Focus Building a strong foundation of core capabilities, (EVP) Driving innovation and sustainable performance
integrity, and organizational agility to support Empowering leaders and employees to optimize through a trusted, future-ready, and people-
future readiness and business transformation. their potential through coaching initiatives and centered organization.
engagement based on the Employee Value
Proposition (EVP).
1. Menetapkan dan menerapkan kerangka 1. Meluncurkan program coaching yang 1. Bertransformasi dari budaya inovatif yang
kapabilitas inti yang selaras dengan terstruktur untuk mengembangkan berakar dari semangat pembelajaran
prioritas strategis Perseroan. pemimpin yang mampu memberikan berkelanjutan.
2. Memperkuat keahlian fungsional dan dampak positif. 2. Mengintegrasikan inovasi dan kolaborasi
digital guna meningkatkan keunggulan 2. Mengaktifkan EVP – Unlocking Potential ke dalam sistem kinerja dan penghargaan.
operasional. melalui pengalaman kerja yang 3. Memperkuat ketangguhan organisasi
3. Mengembangkan struktur kerja yang lincah menumbuhkan pengembangan diri, (organizational resilience) melalui struktur
dan kolaboratif antar tim. apresiasi, dan budaya inklusi. adaptif dan tata kelola yang lincah.
4. Menumbuhkan pola pikir adaptif dan 3. Memperkuat keterlibatan dan kolaborasi 4. Memperdalam kepercayaan pemangku
bertumbuh (growth minder) melalui pegawai melalui budaya umpan balik kepentingan melalui transparansi,
program pengembangan yang terarah. yang terbuka dan inovasi. kredibilitas, dan konsistensi.
5. Meningkatkan proses dan tata kelola SDM 4. Mengembangkan workforce analytics 5. Mengintegrasikan inovasi dan
untuk mendorong kecepatan, kejelasan, untuk mendukung strategi talenta dan keberlanjutan dalam ekosistem SDM untuk
dan akuntabilitas. pengambilan keputusan SDM. menjaga relevansi dan dampak jangka
1. Establishing and implementing a core 5. Mendorong pembelajaran berkelanjutan panjang Perseroan.
capability framework aligned with the melalui platform digital dan perjalanan 1. Transforming toward an innovation-driven
Key Company’s strategic priorities. pengembangan diri yang terpersonalisasi. culture rooted in continuous learning.
Action 2. Strengthening functional and digital 1. Launching structured coaching programs 2. Integrating innovation and collaboration
expertise to enhance operational to develop leaders who can create positive into performance and reward systems.
excellence. impact. 3. Strengthening organizational resilience
3. Developing agile and collaborative ways of 2. Activating EVP – Unlocking Potential through adaptive structures and agile
working across teams. through employee experiences that governance.
4. Fostering an adaptive and growth mindset promote personal development, 4. Deepening stakeholder trust through
through targeted development programs. recognition, and an inclusive culture. transparency, credibility, and consistency.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
5. Enhancing human capital processes and 3. Strengthening employee engagement and 5. Integrating innovation and sustainability
governance to drive speed, clarity, and collaboration through a culture of open into the human capital ecosystem to
accountability. feedback and innovation. maintain the Company’s long-term
4. Developing workforce analytics to support relevance and impact.
talent strategies and human capital
decision-making.
5. Promoting continuous learning through
digital platforms and personalized
development journeys.
Perseroan yang siap menghadapi masa depan Pemimpin dan pegawai yang berdaya Organisasi yang inovatif, terpercaya, dan
dengan kapabilitas inti yang kuat, struktur kerja dan terlibat aktif dalam mengoptimalkan tangguh, di mana kolaborasi, perbaikan
yang lincah, serta SDM yang siap mendukung potensinya, didukung oleh budaya coaching, berkelanjutan, menjadi bagian dari budaya dan
transformasi bisnis. pengalaman EVP yang bermakna, serta kinerja.
A future-ready Company with strong core wawasan berbasis data mengenai SDM. An innovative, trusted, and resilient organization,
Output capabilities, agile ways of working, and Empowered and actively engaged leaders where collaboration and continuous
human capital equipped to support business and employees who optimize their potential, improvement are embedded in both culture and
transformation supported by a coaching culture, meaningful performance.
EVP experiences, and data-driven human
capital insights.
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379 PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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05 Tata Kelola Perusahaan Good Corporate Governance
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05 Tata Kelola Perusahaan
Good Corporate Governance
KOMITMEN PENERAPAN TATA
KELOLA PERUSAHAAN
COMMITMENT TO CORPORATE GOVERNANCE IMPLEMENTATION
PT SMI, sebagai Special Mission Vehicle (SMV) di PT SMI, as a Special Mission Vehicle (SMV) under
bawah Kementerian Keuangan, terus memperkuat the Ministry of Finance, continues to strengthen its
komitmennya dalam menerapkan prinsip-prinsip commitment in implementing the principles of Good
Tata Kelola Perusahaan yang Baik (Good Corporate Corporate Governance (GCG) as the main foundation
Governance/GCG) sebagai landasan utama dalam across all business activities. The Company considers
seluruh aktivitas usaha. Perseroan memandang bahwa that the implementation of governance based on
penerapan tata kelola yang berlandaskan integritas, integrity, transparency, and accountability is not only
transparansi, dan akuntabilitas bukan hanya menjadi a regulatory obligation but also a strategic foundation
kewajiban regulasi, tetapi juga fondasi strategis yang that enables PT SMI to operate more effectively, maintain
memungkinkan PT SMI beroperasi secara lebih efektif, high competitiveness, and deliver added value to all
berdaya saing tinggi, dan mampu memberikan nilai stakeholders. On this basis, the Company ensures that
tambah bagi seluruh pemangku kepentingan. Dengan every business process is conducted in accordance
ini, Perseroan memastikan bahwa setiap proses bisnis with the highest ethical standards so that public trust
dijalankan dengan standar etika tertinggi sehingga can be maintained.
kepercayaan publik dapat terjaga.
Perseroan juga melihat bahwa GCG berperan penting The Company recognizes that Good Corporate
dalam menjaga keberlanjutan pertumbuhan dan Governance (GCG) plays a crucial role in sustaining
ketahanan usaha Perseroan di tengah lingkungan its growth and business resilience amid a dynamic
bisnis yang dinamis, terutama dalam konteks mandat business environment, particularly in the context of
PT SMI dalam mendukung pembiayaan infrastruktur, PT SMI’s mandate to support infrastructure financing,
pembangunan daerah, dan agenda pembangunan regional development, and sustainable development
berkelanjutan yang sesuai dengan visi dan misi Perseroan. aligned with the Company’s vision and mission.
Oleh karena itu, PT SMI secara berkesinambungan Accordingly, PT SMI continuously enhances its policies,
melakukan penyempurnaan kebijakan, prosedur, serta procedures, and mechanism for the implementation
mekanisme penerapan dan pengawasan GCG dengan and oversight mechanisms by adopting best practices
mengadopsi praktik-praktik terbaik (best practices) recognized at both national and international levels.
yang diakui secara nasional maupun internasional. l. Furthermore, as part of its commitment to strengthening
Selain itu, sebagai salah satu bentuk komitmen upaya corporate governance and ensuring the reliability of
penguatan tata kelola perusahaan untuk memastikan financial reporting and internal control systems, in 2025
keandalan laporan keuangan dan sistem pengendalian the Company initiated the preparation and design of
internal, pada tahun 2025 Perseroan telah melakukan the Internal Control over Financial Reporting (ICoFR)
persiapan dan perancangan penerapan Internal Control framework to reinforce a culture of compliance, integrity,
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
over Financial Reporting (ICoFR) guna memperkuat and accountability in its financial reporting.
budaya kepatuhan, integritas, dan akuntabilitas laporan
keuangan Perseroan.
LANDASAN HUKUM PENERAPAN LEGAL BASIS OF THE COMPANY’S
TATA KELOLA PERUSAHAAN GCG IMPLEMENTATION
Penerapan tata kelola perusahaan di PT SMI dijalankan The implementation of corporate governance at PT SMI is
dengan berlandaskan pada berbagai pedoman dan carried out based on various applicable guidelines and
ketentuan yang berlaku, baik yang ditetapkan melalui regulations, both established under national regulations
regulasi nasional maupun standar tata kelola yang diakui and widely recognized governance standards. These
secara luas. Seluruh prinsip tersebut menjadi acuan principles serve as the primary reference for the
utama bagi Perseroan dalam memastikan bahwa Company in ensuring that every decision and business
setiap keputusan dan aktivitas bisnis dilakukan secara activity is conducted transparently, accountably, and
transparan, akuntabel, dan sesuai dengan praktik terbaik. in accordance with best practices. The foundations for
Adapun landasan penerapan GCG yang digunakan GCG implementation applied by the Company include:
Perseroan meliputi:
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1. Undang-Undang No. 28 Tahun 1999 tentang 1. Law No. 28 of 1999 concerning State Administration
Penyelenggara Negara yang Bersih dari Korupsi, Kolusi Free from Corruption, Collusion, and Nepotism (KKN),
dan Nepotisme (KKN) sebagaimana telah dicabut which was partially revoked by Law No. 30 of 2002
sebagian dengan Undang-Undang Nomor 30 Tahun concerning the Corruption Eradication Commission;
2002 tentang Komisi Pemberantasan Tindak Pidana
Korupsi;
2. Undang-Undang Nomor 31 tahun 1999 tentang 2. Law No. 31 of 1999 concerning the Eradication of
Pemberantasan Tindak Pidana Korupsi sebagaimana Criminal Acts of Corruption, as amended by Law of
diubah dengan Undang-Undang Republik Indonesia the Republic of Indonesia No. 20 of 2001 concerning
Nomor 20 Tahun 2001 tentang Perubahan Undang- the Amendment to Law No. 31 of 1999 concerning the
Undang Nomor 31 tahun 1999 tentang Pemberantasan Eradication of Criminal Acts of Corruption, and partially
Tindak Pidana Korupsi dan dicabut Sebagian oleh revoked by Law No. 30 of 2002;
Undang-Undang Nomor 30 Tahun 2002;
3. Undang-Undang Nomor 30 Tahun 2002 tentang 3. Law No. 30 of 2002 concerning the Corruption
Komisi Pemberantasan Tindak Pidana Korupsi Eradication Commission, as last amended by Law No.
sebagaimana telah diubah beberapa kali terakhir 19 of 2019 concerning the Second Amendment to Law
melalui Undang-Undang Nomor 19 Tahun 2019 tentang No. 30 of 2002 concerning the Corruption Eradication
Perubahan Kedua atas Undang-Undang Nomor 30 Commission;
Tahun 2002 tentang Komisi Pemberantasan Tindak
Pidana Korupsi;
4. Undang-Undang Nomor 19 Tahun 2003 tentang Badan 4. Law No. 19 of 2003 concerning State-Owned Enterprises,
Usaha Milik Negara, sebagaimana telah diubah as amended several times, most recently by Law No.
beberapa kali terakhir melalui Undang-Undang 16 of 2025 concerning the Fourth Amendment to Law
Nomor 16 Tahun 2025 tentang Perubahan Keempat No. 19 of 2003 concerning State-Owned Enterprises
atas Undang-Undang Nomor 19 Tahun 2023 tentang (“UU 19/2003”);
Badan Usaha Milik Negara (“UU 19/2003”);
5. Undang-Undang Nomor 40 Tahun 2007 tentang 5. Law No. 40 of 2007 concerning Limited Liability
Perseroan Terbatas Negara sebagaimana telah Companies, as amended several times, most recently
diubah beberapa kali terakhir melalui Undang- by Law No. 6 of 2023 concerning the Stipulation of
Undang Nomor 6 Tahun 2023 tentang Penetapan Government Regulation in Lieu of Law No. 2 of 2022
Peraturan Pemerintah Pengganti Undang-Undang on Job Creation as Law (“UU 40/2007”);
Nomor 2 Tahun 2022 Tentang CiPTa Kerja Menjadi
Undang-Undang (“UU 40/2007”);
6. Peraturan Menteri Keuangan Nomor 78/PMK.06/2015 6. Regulation of the Minister of Finance No. 78/PMK.06/2015
tentang Tata Cara Pengangkatan dan Pemberhentian concerning Procedures for the Appointment and
Anggota Direksi Perusahaan Perseroan (Persero) Dismissal of Members of the Board of Directors of
di Bawah Pembinaan dan Pengawasan Menteri Limited Liability Companies (Persero) Under the
Keuangan sebagaimana telah diubah beberapa kali Supervision and Guidance of the Minister of Finance, as
terakhir melalui Peraturan Menteri Keuangan No. 135/ amended several times, most recently by Regulation of
PMK.06/2017 tentang Perubahan Kedua atas Peraturan the Minister of Finance No. 135/PMK.06/2017 concerning
Menteri Keuangan No. 78/PMK.06/2015 tentang Tata the Second Amendment to Regulation of the Minister
Cara Pengangkatan dan Pemberhentian Anggota of Finance No. 78/PMK.06/2015 concerning Procedures PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Direksi Perusahaan Perseroan (Persero) di Bawah for the Appointment and Dismissal of Members of
Pembinaan dan Pengawasan Menteri Keuangan the Board of Directors of Limited Liability Companies
(“PMK 78/2015”); (Persero) Under the Supervision and Guidance of the
Minister of Finance (“PMK 78/2015”);
7. Peraturan Menteri Keuangan Nomor 106/PMK.06/2017 7. Regulation of the Minister of Finance Number 106/
tentang Pengelolaan Kinerja Direksi dan Dewan PMK.06/2017 concerning Performance Management of
Komisaris pada Perusahaan Perseroan (Persero) the Board of Directors and the Board of Commissioners
di bawah Pembinaan dan Pengawasan Menteri of Limited Liability Companies (Persero) under the
Keuangan (“PMK 106/2017”); Guidance and Supervision of the Minister of Finance
(“PMK 106/2017”);
8. Peraturan Menteri Keuangan Nomor 197/PMK.06/2019 8. Regulation of the Minister of Finance Number
tentang Tata Cara Pengangkatan dan Pemberhentian 197/PMK.06/2019 concerning Procedures for the
Anggota Dewan Komisaris Perusahaan Perseroan Appointment and Dismissal of Members of the Board
(Persero) di Bawah Pembinaan dan Pengawasan of Commissioners of Limited Liability Companies
Menteri Keuangan (“PMK 197/2019”); (Persero) Under the Supervision and Guidance of
the Minister of Finance (“PMK 197/2019”);
383
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05 Tata Kelola Perusahaan
Good Corporate Governance
9. Keputusan Menteri Keuangan Nomor 505/KMK.06/2020 9. Decree of the Minister of Finance No. 505/KMK.06/2020
tentang Pedoman Penilaian dan Evaluasi atas concerning Guidelines for Assessment and Evaluation
Penerapan Tata Kelola yang Baik pada Perusahaan of the Implementation of Good Corporate Governance
Perseroan (Persero) di bawah Pembinaan dan in Limited Liability Companies (Persero) under the
Pengawasan Menteri Keuangan (“KMK 505/2020”); Guidance and Supervision of the Minister of Finance
(“KMK 505/2020”);
10. Peraturan Otoritas Jasa Keuangan Nomor 12 Tahun 10. Regulation of the Financial Services Authority No. 12
2024 tentang Penerapan Strategi Anti Fraud Bagi of 2024 concerning the Implementation of Anti-Fraud
Lembaga Jasa Keuangan (“POJK 12/2024”); Strategies for Financial Services Institutions (“POJK
12/2024”);
11. Peraturan Otoritas Jasa Keuangan Nomor 16 11. Regulation of the Financial Services Authority No. 16
Tahun 2024 tentang Pengawasan PT Sarana Multi of 2024 concerning the Supervision of PT Sarana Multi
Infrastruktur (Persero) (“POJK 16/2024”); Infrastruktur (Persero);
12. Peraturan Otoritas Jasa Keuangan Nomor 42 Tahun 12. Regulation of the Financial Services Authority No.
2024 tentang Penerapan Manajemen Risiko bagi 42 of 2024 concerning the Implementation of Risk
Lembaga Pembiayaan, Perusahaan Modal Ventura, Management for Financing Institutions, Venture
Lembaga Keuangan Mikro, dan Lembaga Jasa Capital Companies, Microfinance Institutions, and
Keuangan Lainnya (“POJK 42/2024”); Other Financial Services Institutions (“POJK 16/2024”);.
13. Surat Edaran Otoritas Jasa Keuangan Nomor 27/ 13. Circular Letter of Financial Services Authority No.
SEOJK.05/2021 tentang Penilaian Tingkat Kesehatan 27/POJK.05/2021 concerning the Assessment
Perusahaan Pembiayaan Infrastruktur (“SEOJK of Soundness Level of Infrastructure Financing
27/2021”); Company;
14. Peraturan Anggota Dewan Komisioner Otoritas Jasa 14. Regulation of the Members of the Board of
Keuangan (PADK OJK) Nomor 48/PADK.06/2025 Commissioners of the Financial Services Authority
tentang Penerapan Manajemen Risiko bagi Lembaga Number 48/PADK.06/2025 concerning the
Pembiayaan, Perusahaan Modal Ventura, Lembaga Implementation of Risk Management for Financing
Keuangan Mikro, dan Lembaga Jasa Keuangan Institutions, Venture Capital Companies, Microfinance
Lainnya (“PADK OJK 48/2025”); Institutions, and Other Financial Services Institutions
(“PADK OJK 48/2025”);
15. Peraturan Komisi Pemberantasan Korupsi Nomor 1 15. Regulation of the Corruption Eradication Commission
Tahun 2026 tentang Pelaporan Gratifikasi (“Peraturan Number 1 of 2026 concerning Gratification Reporting
KPK 1/2026”); (“Peraturan KPK 1/2026”);
16. Peraturan Otoritas Jasa Keuangan Nomor 42 Tahun 16. Regulation of the Financial Services Authority No.
2025 tentang Integritas Pelaporan Keuangan 42 of 2025 concerning the Integrity of Financial
Lembaga Pembiayaan. Perusahaan Modal Ventura, Reporting of Financing Institutions, Venture Capital
Lembaga Keuangan Mikro, Dan Lembaga Keuangan Companies, Microfinance Institutions, and Other
Lainnya (“POJK 42/2025”) Financial Institutions (“POJK 42/2025”).
17. Anggaran Dasar Perseroan dan Keputusan Rapat 17. The Company’s Articles of Association and the
Umum Pemegang Saham (RUPS). resolutions of the General Meeting of Shareholders
(GMS).
Dalam penerapan GCG, Perseroan juga memperhatikan In implementing GCG, the Company also considers to
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
best practice, seperti: best practices, such as:
a. Pedoman Umum Governansi Korporat Indonesia a. General Guidelines for Indonesian Corporate
(PUGKI); dan Governance (PUGKI); and
b. Asean Corporate Governance Scorecard b. ASEAN Corporate Governance Scorecard.
KEBIJAKAN DAN PEDOMAN POLICY AND GUIDELINES FOR
TATA KELOLA PERUSAHAAN GCG IMPLEMENTATION
Untuk menjaga implementasi tata kelola perusahaan To maintain comprehensive and consistent
tetap menyeluruh dan konsisten di seluruh tingkatan implementation of corporate governance across
organisasi, Perseroan terus memperkuat berbagai all organizational levels, the Company continues to
kebijakan serta pedoman internal GCG yang berfungsi strengthen various GCG-related internal policies and
sebagai acuan dalam pengambilan keputusan, guidelines that serve as references for decision-making,
penyusunan prosedur, penyelarasan dasar hukum, procedure development, legal alignment, and day-
hingga pelaksanaan tugas operasional sehari-hari. to-day operational execution. These documents are
Seluruh dokumen tersebut dirancang agar dapat designed to provide clear direction, promote governance
memberikan arahan yang jelas, mendorong disiplin tata discipline, and ensure that all activities are conducted
kelola, serta memastikan setiap aktivitas berjalan sesuai in accordance with ethical standards and prudential
standar etika dan prinsip kehati-hatian. Adapun kebijakan principles. The Company’s GCG policies and guidelines
384 dan pedoman GCG yang dimiliki Perseroan mencakup: include:
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1. Anggaran Dasar Perseroan 1. Articles of Association
Anggaran Dasar Perseroan adalah acuan utama Articles of Association serve as the main reference
yang memuat ketentuan dan aturan pengelolaan that contains rules and regulations for managing a
perusahaan sesuai dengan Undang-Undang No. 40 Company pursuant to Law No. 40 of 2007 concerning
Tahun 2007 tentang Perseroan Terbatas. Limited Liabilities Companies.
2. Tata Kelola Perusahaan ( Good Corporate 2. Good Corporate Governance (GCG)
Governance/GCG)
GCG Code mengatur latar belakang, maksud dan GCG Code regulates background, purpose and
tujuan implementasi GCG, serta pelaksanaan objectives of GCG implementation, as well as
pengawasan pengelolaan usaha Perseroan. GCG supervision of the Company’s business management.
Code direviu dan dimutakhirkan secara berkala, dan The GCG Code is periodically reviewed and updated,
yang saat ini berlaku adalah yang ditetapkan melalui and the version currently in effect was issued through
Peraturan Bersama Dewan Komisaris dan Direksi PT the Joint Decree of the Board of Commissioners and
Sarana Multi Infrastruktur (Persero) Nomor PER-02/ the Board of Directors of PT Sarana Multi Infrastruktur
SMI/DK/1225, No. PD-030/SMI/1225 pada 23 Desember (Persero) Number PER-02/SMI/DK/1225, No. PD-030/
2025. SMI/1225 on December 23, 2025.
3. Pedoman Kerja Dewan Komisaris, Dewan Pengawas 3. Work Guidelines of the Board of Commissioners,
Syariah, dan Direksi (Board Manual) Sharia Supervisory Board, and the Board of Directors
Board Manual merupakan Piagam Kerja Dewan The Board Manual is a Work Charter of the Board
Komisaris, Dewan Pengawas Syariah, dan Direksi yang of Commissioners, Sharia Supervisory Board, and
disusun dengan mengacu pada Anggaran Dasar Board of Directors, prepared with reference to the
Perseroan serta Pedoman GCG. Board Manual yang Company’s Articles of Association and the GCG
berlaku saat ini ditetapkan pada tanggal 23 Desember Code. The currently applicable Board Manual was
2025 melalui Peraturan Bersama Dewan Komisaris, established on December 23, 2025, through a Joint
Dewan Pengawas Syariah dan Direksi PT Sarana Multi Regulation of the Board of Commissioners, Sharia
Infrastruktur (Persero) No. PER-04/SMI/DK/1225, Nomor Supervisory Board, and Board of Directors of PT Sarana
PER-012/SMI/DPS/1225 dan Nomor PD-032/SMI/1225 Multi Infrastruktur (Persero) No. PER-04/SMI/DK/1225,
tentang Pedoman Kerja Dewan Komisaris, Dewan Number PER-012/SMI/DPS/1225, and Number PD-032/
Pengawas Syariah dan Direksi (Board Manual). SMI/1225 concerning the Work Guidelines for the Board
of Commissioners, Sharia Supervisory Board, and the
Board of Directors (Board Manual).
Board Manual merupakan naskah kesepakatan The Board Manual consists of agreement between
antara Dewan Komisaris, Dewan Pengawas Syariah the Board of Commissioners, the Sharia Supervisory
dan Direksi Perseroan yang terdiri dari sejumlah Board, and the Board of Directors, which includes:
ketentuan, di antaranya:
a. Penjelasan hubungan kerja Dewan Komisaris, a. Description of the working relationship between the
Dewan Pengawas Syariah dan Direksi dalam Board of Commissioners, the Sharia Supervisory
melaksanakan tugas guna mewujudkan Board, and the Board of Directors when carrying
pengelolaan Perseroan secara profesional, out their duties, to establish a transparent, efficient PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
transparan dan efisien; and professional management of the Company;
b. Menjadi rujukan/kebijakan tentang tugas pokok b. As a reference/guideline on main duties and
dan fungsi kerja masing-masing organ Perseroan; functions of each individual within the Company;
c. Meningkatkan kualitas dan efektivitas hubungan c. Improvement of the quality and effectiveness of
kerja antara organ; dan cross-function working relationship; and
d. Penerapan asas-asas GCG yakni keterbukaan, d. Implementation of GCG principles, namely
akuntabilitas, tanggung jawab, independensi, dan transparency, accountability, responsibility,
kewajaran. independence, and fairness.
4. Etika Usaha dan Tata Perilaku (Code of Conduct/ 4. Business Ethics and Code of Conduct (Code of
CoC) Conduct/CoC)
Etika Usaha dan Tata Perilaku (Code of Conduct) Business Ethics and Code of Conduct regulates,
mengatur antara lain hubungan Perseroan dan unsur among others, the relationship and the internal
Perseroan (Dewan Komisaris, Direksi dan karyawan interaction between Company and its elements (the
Perseroan) dalam perilaku interaksi kerja maupun Board of Commissioners, the Board of Directors, and
sosial secara internal, dan dengan pemangku employees), both work and social interaction, and
kepentingan lain secara eksternal. Etika Usaha dan with other stakeholders externally. Business Ethics
Tata Perilaku yang berlaku di Perseroan ditetapkan and Code of Conduct applicable within the Company
pada tanggal 23 Desember 2025 melalui Peraturan was established on December 23, 2025, through a 385
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05 Tata Kelola Perusahaan
Good Corporate Governance
Bersama Dewan Komisaris dan Direksi PT Sarana Multi Joint Regulation of the Board of Commissioners and
Infrastruktur (Persero) Nomor PER-03/SMI/DK/1225, the Board of Directors of PT Sarana Multi Infrastruktur
dan PD-031/SMI/1225 tentang Etika Usaha dan Tata (Persero) Number PER-03/SMI/DK/1225 and No. PD-
Perilaku (Code of Conduct). 031/SMI/1225 concerning Business Ethics and Code
of Conduct.
5. Pedoman Pengawasan Direksi oleh Dewan Komisaris 5. Guidelines for the Supervision of the Board of Directors
dalam Rangka Tata Kelola Perusahaan by the Board of Commissioners in the Framework of
GCG
Sesuai dengan Peraturan Dewan Komisaris Nomor According to the Regulation of the Board of
PER- 02/SMI/DK/1122, Pedoman ini merupakan salah Commissioners Number PER-02/SMI/DK/1122,
satu bentuk komitmen Perseroan dalam penerapan these guidelines serve as a form of the Company's
tata kelola perusahaan dari level pengawasan commitment to implementing corporate governance
tertinggi yaitu Dewan Komisaris. from the highest level of supervision, namely the Board
of Commissioners.
6. Prosedur Penerapan Strategi Anti-Fraud 6. Anti Fraud Strategy Procedures
Dalam rangka mewujudkan prinsip-prinsip GCG dan In order to realize Good Corporate Governance
nilai-nilai perusahaan, PT SMI mengimplementasi principles and the Company’s values, PT SMI has
strategi Anti-Fraud dalam mengendalikan implemented an Anti-Fraud Strategy in controlling
kemungkinan terjadinya kecurangan ( fraud ). the possibility of fraud. This strategy governs all
Strategi ini mengatur seluruh Insan Perseroan untuk individuals of the Company to promote integrity in
mendorong integritas dalam pelaksanaan usaha the implementation of the Company's business and
dan bisnis Perseroan. Prosedur ini diharapkan activities. This procedure aims to help the Company
dapat mengarahkan Perseroan dalam melakukan manage fraud by focusing on prevention, detection,
pengendalian fraud melalui upaya-upaya yang tidak investigation, and system improvement as part of
hanya ditujukan untuk pencegahan namun juga an integral strategy in controlling fraud. The latest
untuk mendeteksi dan melakukan investigasi serta Anti-Fraud Strategy Procedures by the Board of
memperbaiki sistem sebagai bagian dari strategi Directors and currently in effect are stipulated through
yang bersifat integral dalam mengendalikan fraud. Regulation of the Board of Directors No. PD-005/
Prosedur Penerapan Strategi Anti-Fraud terkini yang SMI/0225 dated February 5, 2025.
telah disetujui oleh Direksi dan efektif berlaku saat
ini adalah melalui Peraturan Direksi Nomor PD-005/
SMI/0225 tanggal 5 Februari 2025.
7. Petunjuk Teknis Sistem Pelaporan Pelanggaran 7. Technical Guidelines for Violation Reporting
(Whistleblowing System) (Whistleblowing System)
Selain sebagai instrumen tata kelola, Sistem In addition to functioning as a governance instrument,
Pelaporan Pelanggaran (Whistleblowing System) the Whistleblowing System is the implementation
adalah penerapan prinsip akuntabilitas, tanggung of principles of accountability, responsibility, and
jawab dan keadilan, sekaligus wujud dari fairness, as well as a form of stakeholder engagement
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
stakeholders engagement di Perseroan. Sistem at the Company. The Whistleblowing System (WBS)
Pelaporan Pelanggaran (SPP) adalah sarana is a means to prevent, detect, and handle violations
pencegahan, pendeteksi dan penanganan atas within the Company. Whistleblowing System is
pelanggaran yang terjadi di Perseroan. Adanya expected to encourage a healthy and accountable
SPP diharapkan dapat mendorong terwujudnya work culture in the Company, increase integrity, and
budaya kerja perusahaan yang sehat dan protect the stakeholders’ interest and improve the
akuntabel, meningkatkan integritas dan mampu Company’s performance. The latest Whistleblowing
melindungi kepentingan pemangku kepentingan Policy is outlined in the Technical Guidelines for the
dan mendorong kinerja Perseroan. Kebijakan SPP Whistleblowing System, approved by the relevant
terkini dituangkan dalam Petunjuk Teknis Sistem Director on October 14, 2022.
Pelaporan Pelanggaran yang telah disetujui oleh
Direktur terkait pada tanggal 14 Oktober 2022.
8. Prosedur Pengendalian Gratifikasi 8. Gratification Control Procedures
PT SMI mempunyai kebijakan pengendalian gratifikasi PT SMI has a gratification control policy and has created
dan telah membuat mekanisme yang mengatur a mechanism that governs gratification control involving
tentang pengendalian gratifikasi yang melibatkan the Company’s elements. This regulation is carried out
Insan Perseroan. Pengaturan ini dibuat guna menjaga to uphold and maintain work practice integrity, as well
integritas praktik kerja dan mewujudkan kegiatan as ensure that the Company’s business activities are
386 usaha Perseroan yang bebas dari korupsi, kolusi dan free from Corruption, Collusion, and Nepotism (KKN).
Page 117
nepotisme (KKN). Pengaturan pengendalian gratifikasi The regulation on gratification control is outlined in
dituangkan di dalam Peraturan Direksi Nomor PD-005/ the Regulation of the Board of Directors Number PD-
SMI/0824 tanggal 30 Agustus 2024 tentang Prosedur 005/SMI/0824 dated August 30, 2024, concerning
Pengendalian Gratifikasi. Gratification Control Procedures.
9. Prosedur Sistem Manajemen Anti Penyuapan 9. Anti-Bribery Management System Procedures
(SMAP) (SMAP)
Semakin meningkatnya kepercayaan pemangku Increasing stakeholders’ trust encourages the
kepentingan mendorong Perseroan untuk memperkuat Company to strengthen its commitment in the
komitmen pencegahan dan pemberantasan tindak prevention and eradication of corruption, collusion,
pidana korupsi serta budaya kolusi dan nepotisme and nepotism within the Company’s environment.
di lingkungan Perseroan. Salah satu upaya signifikan One of its significant efforts is by implementing Anti-
adalah dengan penerapan SMAP di Perseroan disertai Bribery Management System (Sistem Manajemen
dengan pedoman kerja yang mengatur mekanisme Anti Penyuapan/SMAP) in the Company, along
untuk mengidentifikasi dan mengevaluasi risiko with work guidelines that regulate the mechanism
tindak penyuapan serta mengantisipasi, mencegah, to identify and evaluate bribery risks, as well as to
mendeteksi, dan memberikan tanggapan terhadap anticipate, prevent, detect, and respond to bribery.
tindak penyuapan. Pengaturan tentang Sistem SMAP regulations are outlined in the Regulation of the
Manajemen Anti Penyuapan (SMAP) ini dituangkan Board of Directors Number PD-009/SMI/0322 dated
di dalam Peraturan Direksi Nomor PD-009/SMI/0322 March 8, 2022, concerning Anti-Bribery Management
tanggal 8 Maret 2022 tentang Prosedur Sistem System Procedures. Implementation of SMAP at PT SMI
Manajemen Anti Penyuapan. Penerapan pelaksanaan is in line with ISO 37001:2016 Standard. The Company
SMAP di Perseroan selaras dengan Standar ISO has obtained SNI ISO 37001:2016 Certificate on SMAP
37001:2016. Perseroan telah memperoleh Sertifikat SNI as of March 5, 2021, and has been recertified as of
ISO 37001:2016 tentang SMAP terhitung sejak tanggal April 29, 2024, through the certification body PT Mutu
5 Maret 2021 dan telah tersertifikasi kembali terhitung Agung Lestari.
sejak tanggal 29 April 2024 melalui lembaga sertifikasi
PT Mutu Agung Lestari.
10. Prosedur Perlindungan Konsumen dan Masyarakat 10. Consumer and Public Protection Guidelines
Perseroan menetapkan Prosedur Perlindungan The Company established the Consumer Protection
Konsumen sebagai kebijakan yang baku untuk Guidelines as a standard policy in providing the best
memastikan pelayanan terbaik dan menciptakan service and creating a capable consumer protection
sistem perlindungan konsumen yang andal. system. The provisions of consumer protection are
Ketentuan perlindungan konsumen termuat pada contained in the Consumer and Public Protection
Prosedur Perlindungan Konsumen dan Masyarakat Guidelines as approved by the Decree of the Board of
yang telah disetujui melalui Peraturan Direksi Nomor Directors Number PD-015/SMI/2023 dated November
PD-015/SMI/2023 tanggal 10 November 2023. 10, 2023.
TUJUAN PENERAPAN TATA OBJECTIVES OF GCG
KELOLA PERUSAHAAN IMPLEMENTATION
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Tujuan penerapan GCG di PT SMI antara lain: The objectives of GCG implementation at PT SMI include:
1. Mendukung visi Perseroan menjadi agen 1. Supporting the Company’s vision to become a
Pembangunan berkelanjutan untuk meningkatkan sustainable development agent to improve national
kesejahteraan bangsa; prosperity;
2. Mendukung misi Perseroan, yaitu 2. Supporting the Company’s mission, namely:
a. menjadi katalis kuat dalam meningkatkan a. to become a strong catalyst in improving national
kesejahteraan bangsa prosperity;
b. menjadi mitra terpercaya dalam mewujudkan b. to become a trusted partner in realizing inclusive
aspirasi pembangunan; bangsa yang inklusif dan and sustainable national development aspirations;
berkelanjutan
c. menjadi driver unggulan dalam mengakselerasi c. to become a leading driver in accelerating
pembangunan infrastruktur. infrastructure development.
3. Mematuhi atas ketentuan perundang-undangan 3. Complying with applicable laws and regulations as
maupun best practice yang berlaku; well as prevailing best practices;
4. Mengelola Perseroan dengan beretika, profesional, 4. Managing the Company in an ethical, professional,
transparan dan efisien; transparent, and efficient manner;
5. Menguatkan nilai (value) Perseroan; 5. Strengthening the Company’s values;
6. Mendorong pengambilan keputusan yang optimal 6. Encouraging optimal decision-making based on high
dan berdasarkan pada nilai moral tinggi; moral standards; 387
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05 Tata Kelola Perusahaan
Good Corporate Governance
7. Meningkatkan daya saing Perseroan; 7. Enhancing the Company’s competitiveness;
8. Mengembangkan sumber daya Perseroan; 8. Developing the Company’s resources;
9. Meningkatkan pengelolaan risiko usaha Perseroan 9. Improving the Company’s business risk management
agar dapat memberikan manfaat yang optimal bagi to deliver optimal benefits to Shareholders;
Pemegang Saham;
10. Menguatkan kesadaran dan tanggung jawab 10. Strengthening corporate awareness and responsibility;
Perusahaan; dan and
11. Meningkatkan budaya kerja Perseroan. 11. Enhancing the Company’s work culture.
Sebagai bentuk implementasi atas tujuan tersebut, As part of the implementation of these objectives, the
Perseroan memastikan kepatuhan terhadap seluruh Company ensures compliance with all applicable laws
ketentuan peraturan perundang-undangan melalui and regulations through the refinement of internal
penyempurnaan kebijakan internal, penguatan fungsi policies, the strengthening of oversight functions, and
pengawasan, serta penerapan sistem pengendalian the implementation of adequate control systems. The
yang memadai. Pengelolaan Perseroan dilakukan secara Company is managed in a professional, transparent,
profesional, transparan, dan efisien melalui kejelasan and efficient manner through a clear structure, defined
struktur, fungsi, dan pertanggungjawaban organ functions, and well-established accountability of the
perusahaan. corporate organs.
Perseroan juga terus memperkuat nilai (value) melalui The Company also continues to strengthen its value
peningkatan kinerja yang berkelanjutan, pengambilan through sustainable performance improvement, objective
keputusan yang objektif dan berbasis prinsip kehati- decision-making based on prudential principles, and the
hatian, serta penegakan standar etika dan integritas di enforcement of ethical standards and integrity across all
seluruh tingkatan organisasi. Daya saing ditingkatkan levels of the organization. Competitiveness is enhanced
melalui inovasi, optimalisasi proses bisnis, dan penguatan through innovation, the optimization of business
peran strategis Perseroan dalam pembangunan nasional. processes, and the strengthening of the Company’s
strategic role in national development.
Di sisi internal, pengembangan sumber daya dilakukan Internally, human capital development is pursued
melalui peningkatan kompetensi dan kapasitas insan through the competency and capacity development
perusahaan. Manajemen risiko diperkuat agar setiap of the Company’s personnel. Risk management is
aktivitas usaha terkelola secara prudent dan mampu strengthened to ensure that all business activities are
memberikan manfaat optimal bagi Pemegang Saham. managed prudently and capable of delivering optimal
benefits to the Shareholder.
Selain itu, Perseroan menumbuhkan kesadaran dan In addition, the Company fosters social awareness and
tanggung jawab sosial melalui penerapan prinsip responsibility through the implementation of sustainability
keberlanjutan, serta membangun budaya kerja yang principles, while cultivating a work culture that emphasizes
berintegritas, kolaboratif, dan berorientasi pada kinerja. integrity, collaboration, and performance orientation.
PENERAPAN PRINSIP TATA IMPLEMENTATION OF CORPORATE
KELOLA PERUSAHAAN GOVERNANCE PRINCIPLES
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Upaya penguatan tata kelola perusahaan di PT SMI Efforts to strengthen corporate governance at PT SMI are
dilakukan melalui penerapan prinsip-prinsip GCG carried out through the comprehensive and continuous
secara menyeluruh dan berkesinambungan. Perseroan implementation of GCG principles. The Company ensures
memastikan bahwa seluruh kebijakan, proses, dan that all policies, processes, and supervisory mechanisms
mekanisme pengawasan selalu diperbarui serta are regularly updated and evaluated to remain aligned
dievaluasi secara berkala agar selaras dengan dinamika with organizational dynamics, stakeholder needs, and
organisasi, kebutuhan pemangku kepentingan, serta changes in the economic environment at both national
perubahan lingkungan ekonomi baik di tingkat nasional and global levels. The integration of GCG principles is also
maupun global. Integrasi prinsip-prinsip GCG juga linked to the Company’s values, I-SPRINT, which serve
dikaitkan dengan nilai-nilai perusahaan, I-SPRINT, yang as the foundation for conduct and work culture at all
menjadi landasan perilaku dan budaya kerja di seluruh organizational levels.
tingkatan organisasi.
Komitmen tersebut diwujudkan dengan memegang This commitment is reflected in the adherence to
standar etika yang tinggi dalam setiap aktivitas usaha. high ethical standards in every business activity. The
Penerapan GCG menjadi prasyarat penting untuk implementation of GCG is a key prerequisite for maintaining
menjaga keberlanjutan bisnis dan menjaga kepercayaan business sustainability and preserving public trust in PT
388 publik terhadap PT SMI sebagai Special Mission Vehicle SMI as a government Special Mission Vehicle. All GCG
Page 119
pemerintah. Seluruh pelaksanaan GCG mengacu pada implementation refers to applicable regulations, including
regulasi yang berlaku, termasuk Pasal 46 POJK Nomor Article 46 of Regulation of the Financial Services Authority
16 Tahun 2024 tentang Pengawasan PT Sarana Multi No. 16 of 2024 concerning the Supervision of PT Sarana Multi
Infrastruktur, serta Pedoman Umum Governansi Korporat Infrastruktur, as well as the General Guidelines for Indonesian
Indonesia (PUGKI) 2021 yang disusun oleh Komite Nasional Corporate Governance (PUGKI) 2021 issued by the National
Kebijakan Governansi (KNKG). Committee on Governance Policy (KNKG).
Adapun POJK 16 Tahun 2024 menetapkan 5 (lima) prinsip Regulation of the Financial Services Authority No. 16 of 2024
dasar tata kelola, yaitu keterbukaan, akuntabilitas, tanggung establishes 5 (five) fundamental principles of governance,
jawab, independensi, dan kewajaran. Sementara itu, PUGKI namely transparency, accountability, responsibility,
2021 menekankan empat pilar governansi korporat yang independence, and fairness. Meanwhile, PUGKI 2021
mencerminkan perilaku beretika, akuntabilitas, transparansi, emphasizes four pillars of corporate governance that
dan keberlanjutan. Kedua kerangka tersebut menjadi reflect ethical conduct, accountability, transparency, and
fondasi bagi PT SMI dalam merumuskan, melaksanakan, sustainability. These two frameworks serve as the foundation
dan mengevaluasi tata kelola yang konsisten, adaptif, serta for PT SMI in formulating, implementing, and evaluating
berbasis prinsip kehati-hatian. governance practices that are consistent, adaptive, and
based on the prudential principle.
Berikut adalah penjabaran mengenai prinsip governansi The following outlines the corporate governance
korporat beserta penerapannya di lingkungan Perseroan principles and their implementation within the Company
sesuai amanat POJK Nomor 16 Tahun 2024, struktur dan in accordance with Regulation of the Financial Services
kerangka GCG Perseroan disampaikan pada bagian Authority No. 16 of 2024. The Company’s GCG structure and
berikutnya. framework are presented in the following section.
Prinsip Dasar Penjelasan Penerapan di PT SMI
Basic Principle Description Implementation at the Company
Merupakan hak-hak para Pemegang
Saham dan stakeholders lainnya
atas informasi yang benar dan tepat
mengenai Perseroan, ikut dalam
pengambilan keputusan mengenai
perubahan-perubahan yang
Perseroan mewujudkan komitmen transparansi melalui keterbukaan
mendasar atas Perseroan, dan hak atas
informasi dan laporan perusahaan bagi publik, serta dalam
keuntungan Perseroan. Transparansi
menetapkan prosedur kerja operasional. Pemegang Saham dan
juga diartikan keterbukaan informasi
stakeholders lainnya dapat memperoleh ataupun menyampaikan
baik dalam proses pengambilan
informasi, serta mengikuti perkembangan usaha Perseroan melalui
keputusan maupun mengungkapkan
Keterbukaan kanal-kanal informasi yang tersedia serta mudah diakses.
informasi tentang Perseroan.
Transparency The Company achieves its commitment to transparency by opening
It is the rights of the Shareholders and
information and Company reports to the public, as well as in
other stakeholders to have valid and
establishing operational work procedures. Shareholder, the general
correct information about the Company,
public, business actors, stakeholders, and investors can obtain or
to participate in making decisions
present information and follow the Company’s business updates
regarding fundamental changes to
through available and easily accessible channels.
the Company, and the rights to the
Company’s profits. Transparency
also means disclosure of information PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
both in the decision-making process
and disclosing information about the
Company.
Prinsip akuntabilitas melekat ke setiap pembagian tugas, fungsi,
wewenang dan kewajiban baik secara individu maupun kelompok
di seluruh lapisan organisasi Perseroan. Setiap individu maupun
unit organisasi menjalankan perannya secara profesional dan
berintegritas seperti antara lain pelaksanaan RUPS, Rapat Dewan
Komisaris dan Rapat Direksi yang dilakukan secara berkala sesuai
dengan ketentuan yang berlaku.
Merupakan kejelasan fungsi,
pelaksanaan dan pertanggungjawaban
Hal ini dilakukan untuk mendukung pencapaian sasaran usaha
organ Perseroan sehingga pengelolaan
Perseroan.
Perseroan terlaksana secara efektif.
Akuntabilitas
It is the clarity of functions,
Accountability The accountability principle is inherent to every distribution of tasks,
implementation and responsibilities
functions, responsibilities, and obligations, both for individuals and
of the Company’s organs so that the
groups at every organizational level of the Company. Each individual
management of the Company is carried
and organizational unit carries out their roles with professionalism
out effectively.
and integrity, including, among others, the regular implementation of
the General Meeting of Shareholders (GMS), Board of Commissioners
meetings, and Board of Directors meetings in accordance with
applicable regulations.
This is carried out to support the achievement of the Company’s
business objectives. 389
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05 Tata Kelola Perusahaan
Good Corporate Governance
Prinsip Dasar Penjelasan Penerapan di PT SMI
Basic Principle Description Implementation at the Company
Perseroan menerapkan prinsip tanggung jawab sebagai salah satu
Merupakan kesesuaian di dalam
unsur pedoman kerja seluruh unsur organisasi. Setiap proses kerja,
pengelolaan Perusahaan terhadap
pengambilan keputusan maupun tindakan, harus sesuai prosedur,
peraturan perundang-undangan dan
porsi dan tingkat pertanggungjawabannya dalam rangka melindungi
Tanggung Jawab prinsip korporasi yang sehat.
kepentingan usaha secara jangka panjang.
Responsibility It is compliance by the management
The Company implements the principle of responsibility as one of the
of the Company with the laws and
work guidelines for all elements in the organization. The flow, portion,
regulations and sound corporate
and responsibility level of all work processes, decisionmaking, and
principles.
actions are determined to protect long-term business interests.
Perseroan dikelola secara profesional
tanpa benturan kepentingan dan Perseroan berkomitmen kuat untuk menghindari pengaruh dan
pengaruh/tekanan dari pihak manapun campur tangan oleh pihak manapun dalam menjalankan usaha.
yang tidak sesuai dengan peraturan Pengelolaan perusahaan tidak dapat dipengaruhi oleh kepentingan
perundang-undangan dan prinsip- atau tekanan pribadi maupun kelompok tertentu, dan bebas dari
Independensi prinsip korporasi yang sehat. benturan kepentingan (conflict of interest) pihak manapun.
Independence The Company is managed professionally The Company is strongly committed to avoid domination,
without conflicts of interest and influence, and interference by any party in running its business. The
influence/pressure from any party that management of the Company shall not be influenced by interest or
does not align with the prevailing laws pressure from certain parties, and free from conflict of interest from
and regulations and sound corporate any party.
principles.
Perseroan senantiasa berusaha menjalankan usaha dalam koridor
Merupakan keadilan dan kesetaraan di keadilan dan kesetaraan. Perseroan berkomitmen untuk memberikan
dalam memenuhi hak-hak Pemangku perlakuan yang wajar dan seimbang terhadap pemenuhan hak-hak
Kepentingan yang timbul berdasarkan seluruh pemangku kepentingan dalam kerangka perlindungan dan
perjanjian dan peraturan perundang- pengelolaan aset perusahaan secara baik dan berhati-hati, demi
Kewajaran
undangan. menjaga kelangsungan bisnis Perseroan.
Fairness
It is fairness and equality in fulfilling the The Company always strives to manage its business with fairness
rights of stakeholders that arises based and equality. The Company is committed to ensuring fair and equal
on the agreement and prevailing laws treatment in fulfilling all stakeholders’ rights, while protecting and
and regulations. managing the Company’s assets in a proper and prudent manner, in
order to ensure the Company’s business sustainability.
Di sisi lain, Perseroan juga menerapkan prinsip GCG Furthermore, the Company also implements GCG
berlandaskan pada 4 (empat) pilar, yaitu Perilaku Beretika, principles based on 4 (four) pillars, namely Ethical Conduct,
Akuntabilitas, Transparan, dan Keberlanjutan sebagaimana Accountability, Transparency, and Sustainability, as
yang diamanahkan oleh PUGKI. Adapun informasi mengenai mandated by PUGKI. Information regarding the corporate
prinsip governansi korporat serta penerapannya di lingkup governance principles and their implementation within
Perseroan diuraikan sebagai berikut: the Company is described as follows:
Prinsip Penjelasan Penerapan di PT SMI
Principle Description Implementation at the Company
Dalam melaksanakan kegiatannya, korporasi
senantiasa mengedepankan kejujuran,
memperlakukan semua pihak dengan hormat
• Perseroan berkomitmen untuk membangun serta menjaga
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
(respect), memenuhi komitmen, membangun
nilai moral dan kepercayaan secara konsisten. Hal tersebut
serta menjaga nilai-nilai moral dan kepercayaan
terimplementasi dalam nilai perseroan yaitu i-Sprint. Selain itu
secara konsisten. Korporasi memperhatikan
komitmen tersebut tercermin dari penandatangan Pakta Integritas
kepentingan pemegang saham dan
Dewan Komisaris, Dewan Pengawas Syariah dan Direksi serta
pemangku kepentingan lainnya berdasarkan
seluruh pegawai yang dilakukan secara berkala setiap tahun.
asas kewajaran dan kesetaraan (fairness)
• Seluruh pemangku kepentingan diberikan kesempatan yang
dan dikelola secara independen sehingga
sama untuk mendapatkan informasi dan menyampaikan kritik/
masing-masing organ perusahaan tidak saling
Perilaku Beretika saran kepada Perseroan.
mendominasi dan tidak dapat diintervensi oleh
Ethical Conduct • The Company is committed to building and maintaining moral
pihak lain.
values and trust consistently. This commitment is reflected in the
In carrying out its activities, the corporation
Company’s values, i-Sprint. In addition, it is demonstrated through
consistently upholds honesty, treats all
the signing of the Integrity Pact by the Board of Commissioners, the
parties with respect, fulfills commitments, and
Sharia Supervisory Board, the Board of Directors, and all employees,
consistently builds and maintains moral values
which is conducted annually.
and trust. The corporation takes into account the
• All stakeholders are provided with equal opportunities to obtain
interests of shareholders and other stakeholders
information and to submit feedback or suggestions to the
based on the principles of fairness and equality
Company.
and is managed independently so that each
corporate organ does not dominate one another
and cannot be intervened by other parties.
390
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Prinsip Penjelasan Penerapan di PT SMI
Principle Description Implementation at the Company
• Perseroan menetapkan sasaran usaha dan strategi untuk dapat
Korporasi dapat mempertanggungjawabkan dipertanggungjawabkan kepada Pemegang Saham dan seluruh
kinerjanya secara transparan dan wajar. Untuk pemangku kepentingan.
itu Korporasi harus dikelola secara benar, • Perseroan menetapkan target kinerja untuk semua organ
terukur dan sesuai dengan kepentingan organisasi berdasarkan ukuran yang disepakati dan sejalan
korporat dengan tetap memperhitungkan dengan nilai-nilai Perseroan (Corporate Values), maupun strategi
kepentingan pemegang saham dan pemangku Perseroan dan memiliki reward and punishment system.
kepentingan. Akuntabilitas merupakan prasyarat • Masing-masing organ Perseroan memiliki kompetensi sesuai
yang diperlukan untuk mencapai kinerja yang dengan tanggung jawabnya dan memahami perannya dalam
Akuntabilitas
berkelanjutan. implementasi prinsip-prinsip tata kelola.
Accountability
The corporation is able to account for its • The Company establishes business objectives and strategies that
performance in a transparent and fair manner. can be accounted for to the Shareholder and all stakeholders.
Therefore, the corporation must be managed • The Company sets performance targets for all organizational
properly, measurably, and in accordance organs based on agreed measures aligned with the Company’s
with corporate interests while considering the values (Corporate Values) and strategy and implements a reward
interests of shareholders and stakeholders. and punishment system.
Accountability is a prerequisite for achieving • Each organ of the Company possesses competencies in
sustainable performance. accordance with its responsibilities and understands its role in
implementing governance principles.
• Perseroan mengungkapkan informasi secara tepat waktu,
Untuk menjaga objektivitas dalam menjalankan
memadai, jelas, akurat, dapat diperbandingkan, dan dapat
bisnis, korporasi menyediakan informasi yang
diakses oleh pemangku kepentingan (stakeholders).
material dan relevan dengan cara yang
• Perseroan mengungkapkan keterbukaan informasi yang meliputi
mudah diakses dan dipahami oleh pemangku
namun tidak terbatas pada visi, misi, sasaran usaha, strategi
kepentingan. Korporasi mengambil inisiatif
Perseroan, kondisi keuangan, serta informasi dan fakta material.
untuk mengungkapkan tidak hanya masalah
• Prinsip keterbukaan tetap memperhatikan ketentuan rahasia
yang disyaratkan oleh peraturan perundang-
Perseroan, rahasia jabatan, dan pelindungan data pribadi sesuai
undangan, tetapi juga hal yang penting untuk
dengan peraturan yang berlaku.
pengambilan keputusan oleh pemegang
• Kebijakan Perseroan harus tertulis dan dikomunikasikan kepada
saham, kreditur dan pemangku kepentingan
pemangku kepentingan dan pihak lain yang berhak memperoleh
lainnya.
Transparansi informasi tentang kebijakan tersebut
To maintain objectivity in conducting business,
Transparency • The Company discloses information in a timely, adequate, clear,
the corporation provides material and relevant
accurate, comparable, and accessible manner to stakeholders.
information in a manner that is easily accessible
• The Company discloses information including, but not limited to,
and understandable to stakeholders. The
its vision, mission, business objectives, strategy, financial condition,
corporation takes the initiative to disclose not
and material information and facts.
only matters required by laws and regulations
• The principle of transparency is implemented while observing
but also information that is important for
the confidentiality of the Company, confidentiality of office,
decision-making by shareholders, creditors, and
and personal data protection in accordance with applicable
other stakeholders.
regulations.
Company policies must be documented in
• Company policies must be documented in writing and
writing and communicated to stakeholders and
communicated to stakeholders and other parties entitled to
other parties entitled to receive such information.
receive such information.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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05 Tata Kelola Perusahaan
Good Corporate Governance
Prinsip Penjelasan Penerapan di PT SMI
Principle Description Implementation at the Company
• Perseroan menjadikan konsep 3P (Profit, Planet, People) menjadi
pedoman Perseroan dalam menjalankan aktivitas bisnisnya.
• Kebijakan Perseroan yang menjunjung prinsip ESG
diimplementasikan dalam seluruh aktivitas bisnis Perseroan, di
mana untuk memastikan pembiayaan yang diberikan Perseroan
menjadi berkelanjutan, PT SMI mengimplementasikan 10
standar perlindungan lingkungan dan sosial untuk memastikan
terpenuhinya essential criteria seluruh pembiayaan dan investasi
yang diberikan, sehingga dapat memberikan dampak terhadap
pencapaian SDG’s.
• Perseroan meluncurkan Pernyataan Komitmen Lingkungan,
Sosial, dan Tata Kelola, yang merupakan perkuatan komitmen PT
Korporasi mematuhi peraturan perundang- SMI untuk mencapai SDGs yang lebih konkrit dan mewujudkan
undangan serta berkomitmen melaksanakan keuangan berkelanjutan yang signifikan dan lebih bermakna, PT
tanggung jawab terhadap masyarakat SMI kini bergerak menuju pendekatan 5P: People, Planet, Prosperity,
dan lingkungan agar berkontribusi pada Peace, Partnership.
pembangunan berkelanjutan melalui kerjasama • Perseroan juga telah mewujudkan tata kelola perusahaan yang
dengan semua pemangku kepentingan terkait berkelanjutan, PT Sarana Multi Infrastruktur (Persero) menerapkan
untuk meningkatkan kehidupan mereka dengan Model GRC Terintegrasi dengan mengacu pada prinsip-prinsip
cara yang selaras dengan kepentingan bisnis ESG (Environmental, Social, Governance) dan 5 Pilar SDGs
Keberlanjutan
dan agenda pembangunan berkelanjutan. (Sustainable Development Goals), yaitu: People, Prosperity, Peace,
Sustainability
The corporation complies with laws and Partnership, dan Planet.
regulations and is committed to fulfilling its • The Company adopts the 3P concept (Profit, Planet, People) as a
responsibilities to society and the environment in guideline in conducting its business activities.
order to contribute to sustainable development • The Company’s ESG-based policies are implemented across
through cooperation with relevant stakeholders all business activities. To ensure sustainable financing, PT SMI
to improve their quality of life in a manner implements 10 environmental and social safeguard standards
aligned with business interests and the to ensure the fulfillment of essential criteria for all financing and
sustainable development agenda. investments provided, thereby contributing to the achievement of
the SDGs.
• The Company has launched an Environmental, Social, and
Governance Commitment Statement, reinforcing PT SMI’s
commitment to achieving more concrete SDGs and realizing more
significant and meaningful sustainable finance. PT SMI is now
moving toward a 5P approach: People, Planet, Prosperity, Peace,
and Partnership.
• The Company has also realized sustainable corporate governance.
PT Sarana Multi Infrastruktur (Persero) implements an Integrated
GRC Model by referring to ESG (Environmental, Social, Governance)
principles and the 5 SDG Pillars (Sustainable Development Goals):
People, Prosperity, Peace, Partnership, and Planet.
INTEGRASI TATA KELOLA DAN INTEGRATING GOVERNANCE AND
KEBERLANJUTAN DALAM SUSTAINABILITY INTO CORPORATE
PERUMUSAN STRATEGI KORPORASI STRATEGY FORMULATION
PT SMI senantiasa memastikan bahwa prinsip tata kelola PT SMI consistently ensures that governance and
dan keberlanjutan tidak hanya menjadi komitmen normatif, sustainability principles are not merely normative
tetapi terintegrasi dan terlaksana secara substantif dalam commitments but are substantively integrated and
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
proses perumusan dan penyelenggaraan Rencana Kerja implemented in the formulation and execution of the
dan Anggaran Perusahaan (RKAP) dan Rencana Jangka Company’s Work Plan and Budget (RKAP) and Long-Term
Panjang Perusahaan (RJPP) Perseroan. Melalui kerangka Plan (RJPP). Through a strong governance framework,
governansi yang kuat, peran aktif Dewan Komisaris dan the active roles of the Board of Commissioners and the
Direksi antara lain dilakukan melalui rapat pembahasan, Board of Directors are carried out, among others, through
pelaporan dan pengawasan berkala setiap bulannya regular meetings, reporting, and oversight conducted
terkait penyelenggaraan kebijakan strategis, rencana dan monthly concerning the implementation of strategic
keputusan bisnis dan investasi. Pembahasan, pelaporan policies, plans, and business and investment decisions.
dan pengawasan dilakukan memperhatikan aspek Such discussions, reporting, and oversight consider
kepatuhan, transparansi, manajemen risiko, serta dampak compliance, transparency, risk management, as well as
sosial dan lingkungan secara berimbang. social and environmental impacts in a balanced manner.
Perseroan juga telah memiliki Divisi Evaluasi Lingkungan The Company has also established the Environmental,
Sosial dan Teknik (DELST) yang memiliki tugas antara lain Social, and Technical Evaluation Division (DELST), which is
melakukan analisis risiko fisik perubahan iklim untuk setiap responsible, among others, for conducting physical climate
proyek bisnis Perseroan. Analisis ini menjadi bagian dari risk analysis for each of the Company’s business projects.
Environmental and Social Due Diligence (ESDD). Jika masih This analysis forms part of the Environmental and Social Due
terdapat kesenjangan dalam mitigasi risiko fisik perubahan Diligence (ESDD). Where gaps in the mitigation of physical
iklim, maka Perseroan memberikan rekomendasi langkah- climate risks are identified, the Company provides mitigation
392 langkah mitigasi yang kemudian menjadi bagian dari recommendations, which are subsequently incorporated
syarat dalam perjanjian pembiayaan. as conditions in financing agreements.
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Lebih lanjut, pada fungsi pengawasan dan pengendalian Furthermore, the supervisory and internal control functions
internal diperkuat juga melalui peran dari komite-komite are strengthened through the roles of committees under
di bawah Dewan Komisaris dan komite-komite di bawah the Board of Commissioners and the Board of Directors,
Direksi, penerapan sistem manajemen risiko yang the implementation of a comprehensive risk management
komprehensif, serta penguatan budaya integritas melalui system, and the reinforcement of an integrity culture
kebijakan etika bisnis dan kepatuhan. Melalui mekanisme through business ethics and compliance policies.
tersebut, Perseroan dapat memastikan bahwa seluruh Through these mechanisms, the Company ensures
aktivitas operasional dan pengembangan bisnis selaras that all operational activities and business development
dengan prinsip tata kelola yang baik serta mendukung initiatives are aligned with good governance principles
agenda pembangunan berkelanjutan. Integrasi antara and support the sustainable development agenda. The
integritas, keberlanjutan, dan strategi korporasi ini pada integration of integrity, sustainability, and corporate
akhirnya menjadi fondasi penting bagi ketahanan usaha strategy ultimately serves as a key foundation for the
Perseroan, sekaligus memperkuat kapasitas PT SMI Company’s business resilience, while strengthening PT
dalam merespons dinamika lingkungan bisnis yang terus SMI’s capacity to respond to evolving business dynamics
berkembang dan menciptakan nilai keberlanjutan bagi and create long-term sustainable value for stakeholders.
para pemangku kepentingan dalam jangka panjang.
STRUKTUR DAN KERANGKA GCG STRUCTURE AND FRAMEWORK
TATA KELOLA PERUSAHAAN
Menteri Keuangan (Pemegang Saham)
Minister of Finance (Shareholders)
Visi dan Misi
Vision and Mission
Dewan Komisaris
Board of Commissioners Fungsi
Pengawasan
Sekretariat Dewan Komisaris Monitoring
Functions Dewan
Secretariate to the Board of Commissioners
Pengawas Syariah
Komite Sharia Supervisory Board
Komite
Nominasi
Komite Audit Pemantau
dan Remunerasi
Audit Risiko
Nomination and
Committee Risk Monitoring Infrastruktur GCG
Remuneration
Committee GCG Infrastructure
Committee
• Petugas Whistleblowing
Pemangku Kepentingan System
Stakeholders Whistleblowing System
Officer
• Pejabat Perlindungan
Pemerintah Pusat &
Direksi Konsumen
Pemerintah Daerah Board of Directors Consumers Protection Officer
Central Governments & • Pejabat Anti Pencucian
Municipal Governments Uang dan Tindak Pidana
Pendanaan Terorisme
Anti-Money Laundering and
Terrorism Financing Officer
Pemodal & Investor • Pejabat Etika
Inventors Ethics Officer
• Unit Pengendalian Gratifikasi
Gratification Controlling Unit
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Komite-komite Direksi
Pemrakarsa Proyek Committees of the • Fungsi Kepatuhan Anti
Project Owners Board of Directors Penyuapan
Anti Bribery Compliance
Function
Lembaga Keuangan
Multilateral dan Sekretaris Manajemen Risiko
Audit Internal Risk Management
Lembaga Keuangan Perusahaan
Internal Audit
Lainnya Corporate Secretary Kepatuhan
Multilateral Financial Compliance
Institutions and Other
Financial Institutions Pengendalian Internal
Internal Control
Karyawan Perseroan
Auditor Eksternal Employee of the Company
External Auditor
Prinsip GCG berdasarkan POJK 16 Tahun 2024 : Kewajaran, Akuntabilitas, Tanggungjawab,
Regulator Independensi, dan Kewajaran
Regulator Prinsip GCG berdasarkan PUGKI :
Perilaku beretika, transparansi, akuntabilitas, dan berkelanjutan
GCG Principles based on POJK 16 Year 2024: Fairness, Accountability, Responsibility,
Lainnya Independence, and Reasonableness
GCG Principles based on PUGKI :
Others
Ethical behavior, transparency, accountability, and sustainability
Nilai-nilai Perusahaan | Corporate Values:
Integrity, Service Excellence, Partnership, Resilience, Innovation, Trust (I-SPRINT)
393
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05 Tata Kelola Perusahaan
Good Corporate Governance
PT SMI telah memiliki perangkat GCG lengkap mulai dari PT SMI has established a comprehensive GCG framework,
organ Dewan Komisaris hingga perangkat di bawah ranging from the Organ of the Board of Commissioners
Direksi sebagai fungsi pelaksana dan pengelola termasuk and units under the Board of Directors as the executing
namun tidak terbatas pada fungsi manajemen risiko, and management functions, including but not limited
kepatuhan dan audit internal. to risk management, compliance, and internal audit
functions.
PT SMI secara konsisten mengimplementasikan dan PT SMI consistently implements and ensures the effective
memastikan penerapan three lines of defense berjalan application of the three lines of defense across all levels:
di setiap lini pertahanan: (i). Lini pertahanan pertama (i) the first line of defense, comprising operational units
yakni satuan kerja sebagai risk taking division; (ii). as risk-taking divisions; (ii) the second line of defense,
Lini pertahanan kedua yakni fungsi manajemen risiko consisting of the risk management and compliance
dan fungsi kepatuhan yg berperan memantau dan functions, which monitor and review processes carried
mengkaji proses di Lini Pertahanan Pertama; dan (iii). out by the first line; and (iii) the third line of defense,
Lini pertahanan ketiga yakni fungsi audit internal yang namely the internal audit function, which evaluates the
berperan menilai efektivitas proses pada Lini Pertahanan effectiveness of processes within the first and second
Kedua dan Ketiga. lines of defense.
ROADMAP TATA KELOLA GCG ROADMAP
PERUSAHAAN
Mengingat dinamika bisnis yang semakin kompleks In light of increasingly complex business dynamics
dan kebutuhan untuk terus memperkuat praktik tata and the need to continuously strengthen corporate
kelola perusahaan, Perseroan menetapkan strategi governance practices, the Company has established
penerapan GCG yang berkelanjutan dan terarah. Upaya a structured and sustainable GCG implementation
ini diwujudkan melalui penyusunan roadmap tata kelola strategy. This effort is realized through the development
yang menggambarkan tahapan pengembangan, of a governance roadmap that outlines stages of
prioritas perbaikan, serta arah penguatan GCG di development, improvement priorities, and the direction for
masa mendatang. Adapun peta strategi yang menjadi strengthening GCG in the future. The strategic framework
acuan dalam memastikan praktik tata kelola Perseroan serving as a reference to ensure that the Company’s
senantiasa relevan, adaptif, dan sesuai dengan standar governance practices remain relevant, adaptive, and
terbaik yang berlaku adalah sebagai berikut. aligned with applicable best standards is as follows.
Tahap II Implementasi Tahap III Monitoring &
Tahap I Perumusan & Pengembangan Evaluasi Tahap IV Tujuan
Phase I Formulation Phase II Implementation Phase III Monitoring & Phase IV Objectives
& Development Evaluation
• Pelaksanaan Assessment
• Pembentukan Struktur
GCG
dan Infrastruktur GCG
• Pemenuhan Rekomendasi
• Penyusunan Kelengkapan
Perbaikan dari Hasil
Sistem, Kebijakan, • Implementasi dan
Asesmen GCG
Pedoman dan Prosedur Pengembangan • Terwujudnya GCG sebagai
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Pelaksanaan Pengukuran
GCG dan pendukungnya Struktur GCG Budaya Perseroan
Pemahaman terhadap
• Penyusunan Piagam Kerja • Implementasi • Keberlanjutan Usaha Perseroan
GCG melalui e-Quiz
(Manual) Stakeholder • Peningkatan Nilai Tambah
• Penyusunan Laporan
• Penyusunan Pedoman Engagement Perseroan bagi pemangku
Keberlanjutan
dan Prosedur Operasional • Pemutakhiran kepentingan
• Optimalisasi Fungsi
dan Bisnis Perseroan Kebijakan, Pedoman • Menjadi Perusahaan Pembiayaan
Manajemen, Kepatuhan,
• Penyusunan Nilai dan dan Prosedur Termasuk yang Memiliki Nilai-Nilai Integrity,
Audit Internal dan
Budaya Perseroan Pembuatan Arsitektur Service Excellence, Partnership,
Pengendalian Internal
• Forming the GCG Kebijakan Resilience, Innovations, Trust
• Implementing GCG
Structure and • Implementing and • Achieving GCG as the Company’s
Assessment
Infrastructure Developing the GCG Culture
• Fulfilling Area of
• Completing the GCG Structure • Continuity of the Company’s
Improvement
System, Policy, Guideline, • Implementing Business
Recommendations
and Procedure Stakeholder • Increasing the Company’s Added
from the result of GCG
• Developing the Work Engagement Value for stakeholders
Assessment
Charter (Manual) • Updating Policy, • Becoming a Financing Company
• Measuring Understanding
• Developing the Guideline, and with the values of Integrity,
on GCG through e-Quiz
Company’s Guideline and Procedure, including Service Excellence, Partnership,
• Developing Sustainability
Operational and Business developing Policy Resilience, Innovations, Trust
Report
Procedure Architecture
• Optimizing the Function of
• Developing the
Risk Management, Internal
Company’s Values and
Audit, Compliance, and
Culture
Internal Control
394
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Melalui tahapan yang tertuang dalam roadmap tersebut, Through the phases outlined in the roadmap, the
Perseroan telah mencatat milestones sejak penerapan Company has recorded milestones since the initial
GCG pertama kali pada tahun 2009 hingga akhir implementation of GCG in 2009 through the end of
tahun 2025. Setiap fase pengembangan menunjukkan 2025. Each development phase reflects consistent
penguatan yang konsisten terhadap sistem tata kelola strengthening of a sound and sustainable governance
yang sehat dan berkelanjutan. Seluruh capaian tersebut system. These achievements serve as indicators that
menjadi indikator bahwa komitmen Perseroan dalam the Company’s commitment to implementing GCG
mengimplementasikan GCG terus berkembang secara continues to progress in a measurable manner. The series
terukur. Adapun rangkaian pencapaian implementasi of milestones in the Company’s GCG implementation are
GCG Perseroan dapat dilihat sebagai berikut: presented as follows:
2009-2010 2009-2010
• Pembentukan infrastruktur GCG; • Establishment of GCG infrastructures;
• Pembentukan Komite Direksi dan Komite Kredit & • Establishment of a Committee under the Board of
Investasi; Directors; Credit & Investment Committee;
• Penetapan Anggaran Dasar Perseroan, Pedoman • Establishment of the Company’s Articles of Association,
GCG, Board Manual, Piagam Komite Audit, Piagam GCG Code, Board Manual, Audit Committee Charter,
Audit Internal, dan Pedoman Manajemen Risiko; dan Internal Audit Charter, and Risk Management Manual; and
• Pelaksanaan self-assessment GCG. • Implementation of GCG Self-Assessment.
2011-2012 2011-2012
• Penetapan Pedoman Etika Usaha & Tata Perilaku • Establishment of Guidelines for Business Ethics & Code
(Code of Conduct); dan of Conduct; and
• Pelaksanaan assessment GCG oleh Badan • Implementation of GCG Assessment by the Finance
Pengawasan Keuangan dan Pembangunan (BPKP). and Development Supervisory Agency (BPKP).
2013-2014 2013-2014
• Pengangkatan Komisaris Independen; • Appointment of Independent Commissioners;
• Pembentukan Komite Direksi, Komite Risiko & • Establishment of Committees under the Board
Kapital dengan Sub Komite-komite, serta Komite of Directors: Risk & Capital Committee with Sub-
Pengembangan Proyek & Advisory, dan Komite Committees, and Project Development & Advisory
Teknologi Sistem Informasi; Committee, and Information System Technology
Committee;
• Pembuatan aplikasi Whistleblowing System (WBS) • Development of Whistleblowing System (WBS)
dan penunjukan WBS Officer; application and appointment of WBS Officer;
• Penetapan Pedoman Penyusunan Kebijakan, • Establishment of Policy Development Manual,
Pedoman Sistem Pelaporan Pelanggaran (WBS); dan Whistleblowing System (WBS) Guidelines; and
• Pedoman Pengawasan Direksi oleh Dewan Komisaris • Guidelines for Supervision of the Board of Directors by
dalam rangka menerapkan GCG. the Board of Commissioners in the Framework of GCG
2015 2015
• Penetapan Pedoman Environmental & Social • Establishment of Environmental & Social Management PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Management System (ESMS) Proyek, Pedoman System (ESMS) Project Guidelines, Corporate
Environmental & Social Management System (ESMS) Environmental & Social Management System (ESMS)
Korporasi, Pedoman Komunikasi, Sosialisasi dan Guidelines; and Communication, Dissemination, and
Penyampaian Informasi; Disclosure of Information Guidelines;
• Pelaksanaan asesmen GCG tahun buku 2014 oleh • Implementation of 2014 GCG Assessment by the
Badan Pengawasan Keuangan dan Pembangunan Finance and Development Supervisory Agency (BPKP);
(BPKP); dan and
• Penerapan Legal Compliance Management System. • Establishment of Legal Compliance Management
System.
2016 2016
• Pembentukan Dewan Pengawas Syariah; • Establishment of the Sharia Supervisory Board;
• Pembentukan Komite Dewan Komisaris; Komite • Establishment of a Committee under the Board of
Pemantau Risiko; Commissioners; Risk Monitoring Committee;
• Pembentukan Direktorat Manajemen Risiko; • Establishment of the Directorate of Risk Management;
• Pembentukan Komite Direksi; Komite Penyertaan • Establishment of a Committee under the Board of
Modal; Directors; Equity Investment Committee;
• Pembentukan Unit Risk & Compliance Manager • Establishment of URCM (Unit Risk & Compliance
(URCM); Manager); 395
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05 Tata Kelola Perusahaan
Good Corporate Governance
• Penetapan Piagam Komite Pemantau Risiko, Kebijakan • Establishment of Risk Monitoring Committee Charter,
Manajemen Risiko, Pedoman URCM, Pedoman Risk Management Policy, Risk Compliance Manager
Perlindungan Konsumen, Pedoman Environmental Unit (URCM) Guidelines, Consumers Protection
& Social Management System (ESMS) Multilateral, Guidelines, Guidelines for Multilateral Environmental
Pedoman Pengendalian Gratifikasi, Pedoman dan & Social Management System (ESMS), Gratification
Prosedur Penerapan Program Anti Pencucian Uang Control Guidelines, Guidelines and Procedures for Anti-
dan Pencegahan Pendanaan Terorisme; dan Money Laundering and Counter-Terrorism Financing
Program; and
• Penerbitan Buku Saku Gratifikasi. • Publication of Gratification Handbook.
2017 2017
• Pembentukan Komite Pembiayaan Berkelanjutan; • Establishment of the Sustainable Financing
Committee;
• Penetapan Pedoman Prosedur Pengelolaan Keluhan • Establishment of Guidelines for Impacted Community
Masyarakat Terdampak dan Kelompok Pemerhati, & Observer Group Claims Management Procedures,
Pedoman Environmental & Social Management Guidelines for Multilateral Environmental & Social
System (ESMS) Multilateral, Pedoman Penyusunan Management System (ESMS), Guidelines for the
RKAP dan RJPP, Prosedur Penghimpunan Dana, Company’s Work Plan and Budget and Long-Term
Pedoman Manajemen Risiko Operasional, Pedoman Plan Development, Funding Acquisition Procedures,
Pelaksanaan Fungsi Pengawasan Dewan Komisaris Operational Risk Management Guidelines, and
untuk Kegiatan Pembiayaan Tertentu; Guidelines for Supervisory Function of the Board of
Commissioners for Specific Financing Activities;
• Pelaksanaan Laporan Harta Kekayaan Penyelenggara • Implementation of Report on State Officials Assets
Negara (LHKPN) di lingkungan Perseroan; (LHKPN) within the Company;
• Implementasi Unit Risk & Compliance Manager • Implementation of URCM (Unit Risk & Compliance
(URCM); Manager);
• Pelaksanaan assessment GCG tahun buku 2016 oleh • Implementation of 2016 GCG Assessment by an
penilai MUC Consulting; independent assessor from MUC Consulting;
• Evaluasi Persepsi Pemangku Kepentingan; • Evaluation of Stakeholders’ Perception;
• Pre-assessment manajemen mutu ISO 9001:2009; • Pre-assessment of quality management ISO
9001:2009;
• Gap Analysis Proses Pengadaan; • Gap Analysis of Procurement Process;
• Gap Analysis Risk Management; dan • Gap Analysis of Risk Management; and
• Penyusunan Laporan Keberlanjutan. • Development of Sustainability Report.
2018 2018
• Penyempurnaan Pedoman Kerja Dewan Komisaris, • Enhancement of Work Guidelines for the Board of
Dewan Pengawas Syariah dan Direksi (Board Manual); Commissioners, the Sharia Supervisory Board, and
the Board of Directors (Board Manual);
• Penyempurnaan Pedoman Tata Kelola Perusahaan, • Enhancement of GCG Code
• Pedoman Etika Usaha dan Tata Perilaku; • Guidelines for Business Ethics and Code of Conduct;
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Penyempurnaan Pedoman CSR, Piagam Audit Internal; • Enhancement of CSR Guidelines, Internal Audit Charter;
• Pembaruan format Surat Pernyataan Kepatuhan atau • Renewal of Employee Compliance Statement or
Pakta Integritas Karyawan; Integrity Pact format;
• Penetapan RAS dan RBER; • Establishment of RAS and RBER;
• Pelaksanaan assessment GCG tahun buku 2017 oleh • Implementation of 2017 GCG Assessment by an
penilai MUC Consulting; independent assessor from MUC Consulting;
• Implementasi Early Warning System aktivitas • Implementation of Early Warning System for financing
pembiayaan; activities;
• Pelaksanaan e-quiz pemahaman GCG yang • Implementation of the GCG Understanding e-Quiz,
selanjutnya dilaksanakan secara berkala setiap then carried out periodically every year; and
tahun; dan
• Penyesuaian Komite-Komite di bawah Direksi. • Adjustment of Committees under the Board of
Directors.
2019 2019
• Pelaksanaan pelaporan gratifikasi kepada Komisi • Gratification report to the Corruption Eradication
Pemberantasan Korupsi (KPK) melalui sistem Committee through online gratification system (GOL
gratifikasi online (GOL KPK); KPK);
• Penyempurnaan Pedoman Pengendalian Gratifikasi, • Enhancement of Gratification Control Guidelines,
396 Pedoman Pengendalian Internal, dan Piagam Komite Internal Control Guidelines, and Audit Committee
Audit; Charter;
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• Implementasi Risk Appetite Statement (RAS) dan Risk • Implementation of Risk Appetite Statement (RAS)
Based Enterprise Rating (RBER) pada pengelolaan and Risk Based Enterprise Rating (RBER) in Risk
risiko Perseroan; Management;
• Pelaksanaan assessment GCG tahun buku 2018 oleh • Implementation of 2018 GCG Assessment by an
penilai MUC Consulting; independent assessor from MUC Consulting;
• Pelaksanaan Risk Discovery Program; dan • Implementation of the Risk Discovery Program; and
• Penyempurnaan Enterprise Risk Management • Enhancement of the Enterprise Risk Management
Governance Process (termasuk gap analysis). Governance Process (including gap analysis).
2020 2020
• Penyusunan Arsitektur Kebijakan dan Penyusunan • Establishment of the Company’s Policy Architecture and
Pedoman dan Prosedur Bisnis Perseroan; Business Guidelines and Procedures;
• Penyusunan Petunjuk Teknis Operasi Terbatas dalam • Formulation of Technical Guidelines for Restricted
masa Pandemi Covid-19; Operations during Covid-19 Pandemic;
• Penyusunan dan penerbitan Pedoman Sistem • Drafting and Issuance of Anti-Bribery Management
Manajemen Anti Penyuapan (SMAP); System (SMAP) Guidelines;
• Pelaksanaan assessment GCG tahun buku 2019 oleh • Implementation of 2019 GCG Assessment by the Finance
Badan Pengawasan Keuangan dan Pembangunan and Development Supervisory Agency (BPKP);
(BPKP);
• Pemutakhiran Pedoman-Pedoman Operasional • Updating of the Company’s Operational Guidelines;
Perseroan;
• Pemutakhiran dan Pembentukan Komite-Komite di • Updating and Establishment of Committees under the
bawah Direksi; Board of Directors;
• Penyempurnaan Pedoman Kerja Dewan Komisaris, • Enhancement of Work Guidelines for the Board of
Dewan Pengawas Syariah dan Direksi (Board Manual); Commissioners, the Sharia Supervisory Board, and the
Board of Directors (Board Manual);
• Pembentukan Komite Dewan Komisaris; Komite • Establishment of Committees under the Board of
Nominasi dan Remunerasi; dan pengesahan piagam Commissioners; the Nomination and Remuneration
Komite Nominasi dan Remunerasi; Committee; as well as ratification of the Nomination
and Remuneration Committee Charter;
• Pengangkatan Anggota Dewan Pengawas Syariah • Appointment of Sharia Supervisory Board for the term
masa jabatan 2020-2025; office of 2020-2025;
• Pemutakhiran Piagam Komite Dewan Komisaris, Komite • Updating of Charters for Committees under the
Audit dan Komite Pemantau Risiko; dan Board Commissioners: the Audit Committee and Risk
Monitoring Committee; and
• Perubahan Anggaran Dasar Perseroan terkait dengan • Amendment to the Company’s Articles of Association
perluasan mandat Perseroan. regarding the expansion of the Company’s mandate.
2021 2021
• Pemenuhan Area of Improvement (AoI) assessment • Fulfillment of Area of Improvement (AoI) identified in
GCG Tahun 2020; 2020 GCG Assessment;
• Penguatan Fungsi Asset and Liabilities Risk Management • Strengthening of the Function of the Company’s Asset PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
dan Risk Awareness Perseroan terutama yang terkait and Liabilities Risk Management and Risk Awareness,
program Pemulihan Ekonomi Nasional (PEN); especially related to the National Economic Recovery
(PEN) program;
• Evaluasi Risk Review Analysis dalam rangka penugasan • Evaluation of Risk Review Analysis in commissioning PEN
PEN serta perluasan mandat Perseroan; and expansion of the Company’s mandate;
• Penguatan Scenario Test/Stress Testing Portfolio • Strengthening of the Company’s Scenario Test/Stress
Perseroan; Testing Portfolio;
• Pelaksanaan Enterprise Stress Testing; • Implementation of Enterprise Stress Testing;
• Implementasi pemutakhiran RAS dan RBER, Pemantauan • Updating of RAS and RBER, Quarterly RAS Monitoring;
RAS secara Triwulanan, serta pembaruan dan and updating and refining of Risk Appetite Statement
penyempurnaan indikator Risk Appetite Statement & & Risk-Based Enterprise Rating indicators;
Risk-Based Enterprise Rating;
• Implementasi Sistem Manajemen Anti Penyuapan • Implementing Anti-Bribery Management System
(SMAP); (SMAP);
• Pelembagaan sistem ReFina (Regional Financing) untuk • Institutionalization of the ReFina (Regional Financing)
pengawasan PEN pembiayaan publik; system to supervise the public sector PEN Financing;
• Pelaksanaan assessment GCG tahun buku 2021 oleh • Implementation of 2021 GCG Assessment by the
Badan Pengawasan Keuangan dan Pembangunan Financial and Development Supervisory Agency (BPKP);
(BPKP); 397
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05 Tata Kelola Perusahaan
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• Pelaksanaan penilaian Sistem Pengendalian Internal • Internal Control Evaluation for Entity level year of 2021
level Entitas tahun buku 2021 oleh Badan Pengawasan by the Financial and Development Supervisory Agency
Keuangan dan Pembangunan (BPKP); (BPKP);
• Pelaksanaan Penilaian Tingkat Kesehatan Perusahaan • Assessment of the Company’s Health/Soundness
Pembiayaan Infrastruktur untuk pertama kali, Level, which for the first time conducted and included
mencakup Tata Kelola Perusahaan, Profil Risiko, factors of Corporate Governance, Risk Profile,
Rentabilitas dan Permodalan. Perseroan berhasil Rentability and Capital. The health/soundness level
meraih penilaian tingkat kesehatan perusahaan of the Company is Composite Rate 1 (PK-1); and
dengan Peringkat Komposit 1 (PK-1); dan
• Penerapan Sistem Manajemen Anti Penyuapan, • Implementation of Anti-Bribery Management System,
memenuhi SNI ISO 37001:2016. fulfilling SNI ISO 37001:2016.
2022 2022
• Pemenuhan Area of Improvement (AoI) assessment • Fulfillment of ing Area of Improvement (AoI) identified
GCG Tahun 2021; in 2021 GCG Assessment;
• Pelaksanaan assessment GCG tahun buku 2022 oleh • Implementation of 2022 GCG Assessment by the
Badan Pengawasan Keuangan dan Pembangunan Financial and Development Supervisory Agency
(BPKP); (BPKP);
• Pelaksanaan Penilaian Sendiri Pelaksanaan • Self-Assessment on the Implementation of Consumer
Perlindungan Konsumen dan Masyarakat pertama and Public Protection for the first time to fulfill the
kali sebagai pemenuhan ketentuan Peraturan OJK provision of Regulation of Financial Services Authority
No. 6/POJK.07/2022 tentang Perlindungan Konsumen (OJK Regulation) No. 6/POJK.07/2022 concerning
dan Masyarakat; Consumer and Public Protection;
• Pelaksanaan Penilaian Tingkat Kesehatan Perusahaan • Assessment of the Company’s Health/Soundness
Pembiayaan Infrastruktur untuk pertama kali, Level, which for the first time, conducted and included
mencakup GCG, Profil Risiko, Rentabilitas dan GCG factors, Risk Profile, Rentability and Capital. The
Permodalan. Perseroan berhasil meraih penilaian health/soundness level of the Company is Composite
tingkat kesehatan perusahaan dengan Peringkat Rate 1 (PK-1);
Komposit 1 (PK-1);
• Penyempurnaan Kebijakan Umum Manajemen Risiko • Enhancement of Risk Management General Policy
dan Kebijakan Umum Pengelolaan Dana; and Fund Management General Policy;
• Penyempurnaan Pedoman Kerja Dewan Komisaris, • Enhancement of Work Guidelines for the Board of
Dewan Pengawas Syariah dan Direksi (Board Manual); Commissioners, the Sharia Supervisory Board, and
the Board of Directors (Board Manual);
• Pembaruan Pedoman Pengawasan Direksi oleh • Updating of Guidelines for Supervision of the Board
Dewan Komisaris dalam rangka pelaksanaan GCG; of Directors by the Board of Commissioners in the
Framework of GCG
• Penyesuaian Prosedur Penerapan Strategi Anti-Fraud • Amendment to the Anti-Fraud Strategy
sebagaimana ditetapkan pada Peraturan Direksi No. Implementation Procedures as stipulated in Regulation
PD-037/SMI/1022 tanggal 28 Oktober 2022; of the Board of Directors No. PD-037/SMI/1022 dated
October 28, 2022;
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Penyesuaian Prosedur Sistem Manajemen Anti • Amendment to the Anti-Bribery Management System
Penyuapan sebagaimana Peraturan Direksi PT Sarana Procedures as stipulated in Regulation of the Board of
Multi Infrastruktur (Persero) Nomor PD-009/SMI/0322 Directors of PT Sarana Multi Infrastruktur (Persero) No.
tanggal 8 Maret 2022; dan PD-009/SMI/0322 dated March 8, 2022; and
• Pelaksanaan Evaluasi atas Tata Kelola, Manajemen • Evaluation of Governance, Risk Management, and
Risiko, dan Pengendalian/Kepatuhan pada PT Sarana Control/Compliance of PT Sarana Multi Infrastruktur
Multi Infrastruktur (Persero) oleh Inspektorat Jenderal (Persero) by the Inspectorate General of Ministry of
Kementerian Keuangan Republik Indonesia. Finance of the Republic of Indonesia.
2023 2023
• Pemenuhan Area of Improvement (AoI) asesmen • Fulfillment of Area of Improvement (AoI) identified in
GCG Tahun 2022; 2022 GCG Assessment;
• Pelaksanaan assessment tata kelola perusahaan • Implementation of 2023 GCG Assessment by the
tahun buku 2023 oleh Badan Pengawasan Keuangan Financial and Development Supervisory Agency
dan Pembangunan (BPKP); (BPKP);
• Penyesuaian Kebijakan Umum Hukum, Kepatuhan • Amendment to the General Policy on Legal,
dan Anti Pencucian Uang, Pencegahan Pendanaan Compliance and Anti-Money Laundering, Counter-
Terorisme dan Pencegahan Pendanaan Proliferasi Terrorism Financing and Counter-Proliferation
Senjata Pemusnah Massal (APU, PPT dan PPPSPM) Financing of Weapons of Mass Destruction (AML, CTF
398
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Revisi I sebagaimana Peraturan Direksi Nomor PD- and CPF-WMD) Revision I as stipulated in Regulation
018/SMI/1223 tanggal 14 Desember 2023; of the Board of Directors No. PD-018/SMI/1223 dated
December 14, 2023;
• Penyesuaian Prosedur Penerapan Program Anti • Amendment to the Procedure for the Implementation
Pencucian Uang, Pencegahan Pendanaan Terorisme of the Anti-Money Laundering, Counter-Terrorism
dan Pencegahan Proliferasi Senjata Pemusnah Financing and Counter-Proliferation Financing of
Massal (APU, PPT dan PPPSPM) Revisi III sebagaimana Weapons of Mass Destruction Program (AML, CTF
Peraturan Direksi Nomor PD-019/SMI/1223 tanggal 14 and CPF-WMD) Revision III as stipulated in Regulation
Desember 2023. of the Board of Directors No. PD-019/SMI/1223 dated
December 14, 2023.
• Pelaksanaan Penilaian Tingkat Kesehatan Perusahaan • Implementation of the Assessment of Health/
Pembiayaan Infrastruktur untuk pertama kali, Soundness Level of Infrastructure Financing
mencakup GCG, Profil Risiko, Rentabilitas dan Companies for the first time, covering GCG, Risk Profile,
Permodalan. Perseroan berhasil meraih penilaian Profitability, and Capital. The Company successfully
tingkat kesehatan perusahaan dengan Peringkat achieved a Composite Rating of 1 (PK-1), indicating an
Komposit 1 (PK-1). excellent level of financial and operational soundness.
2024 2024
• Pemenuhan Area of Improvement (AoI) Asesmen • Fulfillment of Area of Improvement (AoI) identified in
GCG Tahun 2023; 2023 GCG Assessment;
• Pelaksanaan assessment tata kelola perusahaan • Implementation of 2024 GCG Assessment by the
tahun buku 2024 oleh Badan Pengawas Keuangan Financial and Development Supervisory Agency
dan Pembangunan (BPKP); (BPKP);
• Resertifikasi ISO 37001:2016 untuk Sistem Manajemen • Recertification of ISO 37001:2016 for the Anti-Bribery
Anti Penyuapan (SMAP) tanggal 29 April 2024; Management System (SMAP) dated April 29, 2024;
• Pelaporan Penilaian IRA (Individual Risk Assessment) • Reporting of the Individual Risk Assessment (IRA) for
Tindak Pidana Pencucian Uang (“TPPU”), Tindak Pidana Anti-Money Laundering (AML), Counter-Terrorism
Pendanaan Terorisme (“TPPT”), dan Pendanaan Financing (CFT), and Counter-Proliferation Financing
Proliferasi Senjata Pemusnah Massal (“PPSPM”) pada PT of Weapons of Mass Destruction (CPFWMD) at PT
Sarana Multi Infrastruktur (Persero) tanggal 11 Juni 2024; Sarana Multi Infrastruktur (Persero) on June 11, 2024.
• Pelaksanaan Sharia Executive Class Training untuk • Implementation of the Sharia Executive Class
BOD dan BOC yang memberikan pengetahuan dasar Training for the Board of Directors (BOD) and Board
mengenai prinsip dan jenis skema/akad transaksi of Commissioners (BOC), providing fundamental
keuangan syariah, diselenggarakan pada tanggal knowledge on Sharia financial principles and
27 Juni 2024 di Bandung; transaction schemes/contracts, conducted on June
27, 2024, in Bandung.
• Pelaporan Review Kepatuhan Semester I Periode • Submission of the Semester I Compliance Review
Tahun 2024 kepada Direktur Manajemen Risiko, Report for the 2024 Period to the Director of Risk
tertanggal 27 Agustus 2024; Management, dated August 27, 2024.
• Pengkinian Prosedur Pengendalian Gratifikasi yang • Update of the Gratification Control Procedures,
ditetapkan pada tanggal 30 Agustus 2024; established on August 30, 2024.
• Pelaksanaan Pelatihan dan Ujian Sertifikasi Manajemen • Implementation of Risk Management Certification PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Risiko Jenjang 4 bagi DPS yang diselenggarakan pada Training and Examination (Level 4) for DPS, conducted
tanggal 23 – 24 September 2024 (training) dan 08 on September 23–24, 2024 (training) and October 8,
Oktober 2024 (ujian sertifikasi) di Jakarta; 2024 (certification exam) in Jakarta.
• Pelaksanaan penyelenggaraan Program Pelatihan • Implementation of AML CFT and CPFWMD Training
APU PPT dan PPPSPM dengan mengundang Program, featuring guest speakers from Regulators
Narasumber dari Regulator tanggal 15 Oktober 2024; on October 15, 2024.
• Implementasi penilaian Sistem Pengendalian Internal • Implementation of the Internal Control System
pada level Aktivitas untuk tahun 2023; Assessment at the Activity Level for 2023.
• Pelaksanaan Webinar dalam rangka Hakordia • Hosting a Webinar for Hakordia 2024, themed
2024, dengan tema Hindari Benturan Kepentingan: “Avoiding Conflicts of Interest: Commitment and
Komitmen dan Langkah Konkret dalam Concrete Actions in Corruption Eradication for an
Pemberantasan Korupsi Untuk Indonesia Maju; Advanced Indonesia.”
• Turut berpartisipasi dalam kegiatan Green Climate • Participation in the Green Climate Fund Integrity
Fund Integrity Forum, November 2024 di Seoul, Korea Forum, held in November 2024 in Seoul, South Korea.
Selatan;
• Pengukuran Risk Maturity Index; • Measurement of the Risk Maturity Index.
• Sosialisasi integrity terkait dengan penerapan Sistem • Integrity Socialization on the implementation of
Pelaporan Pelanggaran (Whistleblowing System), Whistleblowing System, Anti-Bribery Management
399
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05 Tata Kelola Perusahaan
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Sistem Manajemen Anti Penyuapan dan Pengendalian System, and Gratification Control at PT SMI, addressed
Gratifikasi di PT SMI, kepada para penyedia jasa dalam to service providers during the 2024 Vendor Gathering,
kegiatan Vendor Gathering 2024 dengan tema Sinergi with the theme “Synergy and Innovation for the Future
dan Inovasi untuk Masa Depan Infrastruktur Indonesia; of Indonesia’s Infrastructure.”
• Sosialisasi standar pelayanan minimum pada • Socialization of Minimum Service Standards to
stakeholder; stakeholders;
• Pelaksanaan Penilaian Tingkat Kesehatan Perusahaan • Implementation of the Assessment of Health/
Pembiayaan Infrastruktur untuk pertama kali, Soundness Level of Infrastructure Financing
mencakup GCG, Profil Risiko, Rentabilitas dan Companies for the first time, covering GCG, Risk Profile,
Permodalan. Perseroan berhasil meraih penilaian Profitability, and Capital. The Company successfully
tingkat kesehatan perusahaan dengan Peringkat achieved a Composite Rating of 1 (PK-1).
Komposit 1 (PK-1).
2025 2025
• Pemenuhan Area of Improvement (AoI) Asesmen GCG • Fulfillment of the Areas of Improvement (AoI) identified
Tahun 2024; in the 2024 GCG Assessment;
• Pelaksanaan assessment tata kelola perusahaan • Implementation of 2025 GCG Assessment by the
tahun buku 2025 oleh Badan Pengawas Keuangan Financial and Development Supervisory Agency (BPKP);
dan Pembangunan;
• Pengkinian Kebijakan Umum Tata Kelola Perusahaan • Update of the GCG (Good Corporate Governance)
(Good Corporate Governance) Revisi I, Kebijakan Umum General Policy Revision I, GCG (Good Corporate
Tata Kelola Perusahaan (Good Corporate Governance) Governance) General Policy Revision I, and the Work
Revisi I, dan Pedoman Kerja Dewan Komisaris, Dewan Guidelines of the Board of Commissioners, Sharia
Pengawas Syariah, dan Direksi (Board Manual) Revisi V; Supervisory Board, and Board of Directors (Board
• Penerapan Regulatory Compliance System (RCS) yang Manual) Revision V;
bekerjasama dengan Hukumonline. RCS ini sebagai • Implementation of the Regulatory Compliance System
aplikasi untuk mengidentifikasi kewajiban dalam (RCS) in collaboration with Hukumonline. This system
memenuhi peraturan perundang-undangan yang serves as an application to identify the Company’s
berlaku bagi Perseroan dan sekaligus menggantikan obligations in complying with applicable laws and
Legal Compliance Management System yang regulations, while also replacing the previously used
sebelumnya digunakan oleh Perseroan; Legal Compliance Management System;
• PT Sarana Multi Infrastruktur (Persero) mendapatkan • PT Sarana Multi Infrastruktur (Persero) received the
penghargaan Diamond (Most Strategic Enterprise in Diamond award (Most Strategic Enterprise in Regulatory
Regulatory Compliance) untuk sektor Financial Services Compliance) for the Non-Bank Financial Services sector
Non-Bank, pada acara Indonesia Regulatory Compliance at the Indonesia Regulatory Compliance Awards 2025
Awards 2025 (IRCA 2025) yang diselenggarakan oleh (IRCA 2025) organized by Hukumonline on May 9, 2025;
Hukumonline, tanggal 9 Mei 2025;
• Pelaporan Review Kepatuhan Semester I Periode Tahun • Submission of the Semester I Compliance Review Report
2025 kepada Direktur Manajemen Risiko, tertanggal 7 for the 2025 period to the Director of Risk Management,
Agustus 2025; dated August 7, 2025;
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Pengkinian Prosedur Penerapan Strategi Anti-Fraud • Update of the Anti-Fraud Strategy Implementation
Revisi I yang ditetapkan pada tanggal 5 Februari 2025 Procedures Revision I, established on February 5, 2025,
sebagai penerapan atas berlakunya POJK 12 tahun 2024; in accordance with the enactment of Regulation of the
• Pelaksanaan Audit Surveilance guna mempertahankan Financial Services Authority No. 12 of 2024;
Sertifikasi ISO 37001:2016 Sistem Manajemen Anti • Implementation of Surveillance Audit to maintain
Penyuapan pada tanggal 17-18 Maret 2025; the ISO 37001:2016 Anti-Bribery Management System
Certification on March 17–18, 2025;
• Pengembangan Aplikasi E-Gratifikasi serta peninjauan • Development of the E-Gratification Application and
berkala terhadap saluran Pelaporan Pelanggaran periodic review of the Whistleblowing System reporting
(Whistleblowing System); channels;
• Pelaksanaan training Assurance Compliance terkait • Implementation of Assurance Compliance training on
dengan pemahaman penerapan Whistleblowing understanding the application of the Whistleblowing
System di Lembaga Keuangan yang dilaksanakan System in financial institutions, held on November 20–21,
pada tanggal 20 – 21 November 2025; 2025;
• Pelaksanaan penyelenggaraan Program Pelatihan APU • Implementation of the AML-CFT and CPF-WMD Training
PPT dan PPPSPM dengan mengundang Narasumber dari Program by inviting speakers from the regulator, held
Regulator tanggal 8-9 Desember 2025; on December 8–9, 2025;
• Pelaksanaan Sosialisasi Integrity terkait dengan penerapan • Implementation of Integrity socialization related to the
Sistem Pelaporan Pelanggaran (Whistleblowing System), implementation of the Whistleblowing System, Anti-
400 Sistem Manajemen Anti Penyuapan dan Pengendalian Bribery Management System, and Gratification Control
Page 131
Gratifikasi di PT SMI, kepada para penyedia jasa dalam at PT SMI for service providers during Vendor Gathering
kegiatan Vendor Gathering 2025; 2025;
• PT Sarana Multi Infrastruktur (Persero) berada dalam • PT Sarana Multi Infrastruktur (Persero) is currently in the
tahap perancangan penerapan Internal Control over design phase of implementing Internal Control over
Financial Reporting (ICoFR) dengan pendampingan Financial Reporting (ICoFR) with the assistance of a
konsultan, sebagai upaya penguatan tata kelola consultant, as part of efforts to strengthen corporate
perusahaan untuk memastikan keandalan laporan governance to ensure the reliability of financial reporting
keuangan serta mendukung penerapan prinsip Good and support the implementation of Good Corporate
Corporate Governance (GCG) dan sistem pengendalian Governance (GCG) principles and internal control;
internal;
• Pelaksanaan sosialisasi implementasi Business Process • Socialization of the implementation of Business Process
Mapping (BPM) dan Risk Control Matrix (RCM) pada Mapping (BPM) and Risk Control Matrix (RCM) under the
Project Internal Control over Financial Reporting (ICoFR) Internal Control over Financial Reporting (ICoFR) project
pada 10–11 Juli 2025 sebagai langkah awal penguatan on 10–11 July 2025, as an initial step to strengthen PT
sistem pengendalian internal atas pelaporan keuangan SMI’s internal control system over financial reporting;
di PT SMI;
• Pelaksanaan Penilaian Tingkat Kesehatan Perusahaan • Implementation of the Assessment of Health/Soundness
Pembiayaan Infrastruktur untuk pertama kali, mencakup Level of Infrastructure Financing Companies for the first
GCG, Profil Risiko, Rentabilitas dan Permodalan. time, covering GCG, Risk Profile, Profitability, and Capital.
Perseroan berhasil meraih penilaian tingkat kesehatan The Company successfully achieved a Composite
perusahaan dengan Peringkat Komposit 1 (PK-1). Rating of 1 (PK-1).
RENCANA PENERAPAN TATA FUTURE CORPORATE GOVERNANCE
KELOLA PERUSAHAAN KE DEPAN IMPLEMENTATION PLAN
Perseroan tetap berkomitmen menerapkan prinsip-prinsip The Company remains committed to implementing GCG
GCG secara menyeluruh dengan menyiapkan rencana principles comprehensively by preparing governance
penguatan tata kelola yang akan dijalankan pada tahun strengthening initiatives to be carried out in 2026. These
2026. Upaya ini mencakup serangkaian inisiatif yang efforts encompass a series of initiatives designed to
dirancang untuk memperkuat integritas, efektivitas enhance integrity, oversight effectiveness, and the quality
pengawasan, serta kualitas proses bisnis. of business processes.
Beberapa rencana pelaksanaan tata kelola yang dimaksud The planned governance initiatives include, among others:
antara lain:
1. Memastikan Perseroan senantiasa mematuhi peraturan 1. Ensuring that the Company consistently complies with
perundang-undangan dan kebijakan serta prosedur applicable laws and regulations, as well as prevailing
yang berlaku. policies and procedures.
2. Menjaga dan meningkatkan kualitas penerapan Tata 2. Maintaining and improving the quality of the Company’s
Kelola Perusahaan Perseroan dengan salah satunya Corporate Governance implementation, including
meningkatkan skor capaian GCG assessment dan enhancing GCG assessment scores and achieving
pemenuhan Area of Improvement (AoI) secara maksimal. optimal fulfillment of Areas of Improvement (AoI).
3. Melakukan peninjauan secara berkala terhadap prosedur 3. Conducting periodic reviews of gratification and anti- PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
dan pedoman gratifikasi serta anti-penyuapan guna bribery procedures and guidelines to ensure alignment
memastikan kesesuaiannya dengan perkembangan with relevant business developments and conditions.
dan kondisi bisnis Perseroan yang relevan.
4. Melakukan penguatan budaya integritas dan kepatuhan 4. Strengthening the Culture of Integrity and Compliance
dengan menanamkan budaya integritas dan kepatuhan by continuously instilling integrity and compliance
secara berkelanjutan melalui program komunikasi, values through communication programs, socialization,
sosialisasi, dan pelatihan GCG kepada seluruh insan and GCG training for all Company personnel, so that the
perusahaan, sehingga prinsip transparansi, akuntabilitas, principles of transparency, accountability, responsibility,
tanggung jawab, independensi, dan kewajaran dapat independence, and fairness are consistently applied in
diterapkan secara konsisten dalam setiap aktivitas bisnis every business activity.
5. Melakukan optimalisasi penerapan Whistleblowing System 5. Optimizing the implementation of the Whistleblowing
sebagai sarana pelaporan pelanggaran yang aman, System as a secure, accountable, independent, and
akuntabel, independen, dan terpercaya. reliable reporting channel.
6. Melanjutkan pengembangan dan penerapan Internal 6. Continuing the phased and sustainable development
Control over Financial Reporting (ICoFR) secara bertahap and implementation of Internal Control over Financial
dan berkelanjutan, termasuk penyempurnaan desain serta Reporting (ICoFR), including refinement of control design
pengujian efektivitas pengendalian, guna mendukung and testing of control effectiveness, to support the
keandalan pelaporan keuangan serta penguatan tata reliability of financial reporting and strengthen corporate
kelola perusahaan. governance. 401
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RAPAT UMUM PEMEGANG SAHAM
GENERAL MEETING OF SHAREHOLDERS
Rapat Umum Pemegang Saham (RUPS) merupakan The General Meeting of Shareholders (GMS) is a corporate
organ Perseroan yang memegang kewenangan khusus organ that holds specific authorities not granted to the
yang tidak dimiliki Direksi maupun Dewan Komisaris Board of Directors or the Board of Commissioners in
sesuai ketentuan perundang-undangan dan/atau accordance with prevailing laws and regulations and/
Anggaran Dasar. Forum ini berfungsi sebagai sarana or the Articles of Association. This forum serves as a
komunikasi antara pemegang saham, Direksi, dan Dewan communication platform between shareholders, the
Komisaris, terutama dalam penyampaian laporan Board of Directors, and the Board of Commissioners,
pertanggungjawaban atas pelaksanaan tugas dan particularly for the submission of accountability reports
kinerja Perseroan. Setiap keputusan yang ditetapkan on the performance of duties and the Company’s
dalam RUPS selalu diarahkan pada kepentingan terbaik performance. Every resolution adopted at the GMS is
Perseroan, baik untuk keberlanjutan jangka pendek directed toward the best interests of the Company, both
maupun jangka panjang. for short-term and long-term sustainability.
Pemegang saham PT SMI adalah Pemerintah Republik The sole shareholder of PT SMI is the Government of the
Indonesia yang diwakili oleh Menteri Keuangan sebagai Republic of Indonesia, represented by the Minister of
pemegang saham tunggal dengan kepemilikan 100%. Finance, holding 100% ownership. The holding of PT SMI’s
Penyelenggaraan RUPS PT SMI dilaksanakan sesuai General Meeting of Shareholders (GMS) is carried out in
dengan ketentuan yang berlaku, antara lain: accordance with applicable regulations, including:
1. Undang-Undang No. 19 Tahun 2003 tentang Badan 1. Law No. 40 of 2007 concerning Limited Liability
Usaha Milik Negara sebagaimana telah diubah Companies, as amended several times, most recently
beberapa kali terakhir melalui Undang-Undang by Law No. 6 of 2023 concerning the Stipulation of
Nomor 6 Tahun 2023 tentang Penetapan Peraturan Government Regulation in Lieu of Law No. 2 of 2022
Pemerintah Pengganti Undang-Undang No. 2 Tahun concerning Job Creation into Law.
2022 Tentang Cipta Kerja Menjadi Undang-Undang;
2. Peraturan Menteri Keuangan No. 88/PMK.06/2015 2. Regulation of the Minister of Finance No. 88/
tentang Penerapan Tata Kelola Perusahaan yang PMK.06/2015 concerning Implementation of Good
Baik pada Perusahaan Perseroan (Persero) di bawah Corporate Governance Limited Liability Companies
Pembinaan dan Pengawasan Menteri Keuangan; (Persero) under the Guidance and Supervision of the
Minister of Finance;
3. Peraturan Otoritas Jasa Keuangan No. 16 Tahun 2024 3. Regulation of the Financial Services Authority No. 16
tentang Pengawasan PT Sarana Multi Infrastruktur of 2024 concerning the Supervision of PT Sarana Multi
(Persero); Infrastruktur (Persero).
4. Keputusan Menteri Keuangan No. 505/KMK.06/2020 4. Decree of the Minister of Finance No. 505/KMK.06/2020
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
tentang Pedoman Penilaian dan Evaluasi atas concerning Guidelines for Assessment and Evaluation
Penerapan Tata Kelola Perusahaan yang Baik pada of the Implementation of Good Corporate Governance
Perusahaan Perseroan (Persero) di bawah Pembinaan in Limited Liability Companies (Persero) under the
dan Pengawasan Menteri Keuangan; dan Guidance and Supervision of the Minister of Finance;
5. Anggaran Dasar Perseroan. 5. The Company’s Articles of Association.
Hak dan Wewenang RUPS Rights and Authorities of GMS
Hak dan kewenangan RUPS sebagaimana diatur dalam Regulation of Ministry of Finance of the Republic of
Peraturan Menteri Keuangan Republik Indonesia No. Indonesia No. 88/2015 regulates the rights and authorities
88/2015 mencakup antara lain: of the GMS as follows:
1. RUPS PT SMI mempunyai wewenang yang tidak 1. GMS of PT SMI has the authority not granted to the
diberikan kepada Direksi atau Dewan Komisaris, Board of Directors and the Board of Commissioners,
dalam batas yang ditentukan dalam peraturan within the limitation stipulated by the Law and/or
perundangan dan/atau Anggaran Dasar; Articles of Association;
2. Menghadiri dan memberikan suara dalam RUPS, 2. Attending and voting in GMS, with the condition that
dengan ketentuan satu saham memberi hak kepada one share entitles its holder to issue one vote;
pemegangnya untuk mengeluarkan satu suara;
3. Memperoleh informasi material mengenai Perseroan, 3. Gaining material information about the Company in
secara tepat waktu, terukur, dan teratur; a punctual, measured, and proper manner;
402
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4. Menerima pembagian dari keuntungan Perseroan 4. Obtaining distribution of the Company’s profits for
yang diperuntukkan bagi Pemegang Saham dalam Shareholders in dividends and the remaining assets
bentuk dividen, dan sisa kekayaan hasil likuidasi, after liquidation, in proportion to the shares owned;
sebanding dengan jumlah saham yang dimilikinya; and
dan
5. Hak lainnya ditetapkan berdasarkan Anggaran Dasar 5. Other rights according to Articles of Association and
dan peraturan perundang-undangan. prevailing laws and regulations.
JENIS-JENIS RUPS TYPES OF GMS
Dalam menjalankan tata kelola perusahaan yang efektif, In implementing effective corporate governance, the
Perseroan menyelenggarakan dua kategori Rapat Umum Company conducts two categories of General Meeting
Pemegang Saham (RUPS), yaitu RUPS Tahunan (“RUPST”) of Shareholders (GMS), namely the Annual GMS (“AGMS”)
dan RUPS lainnya. Masing-masing forum memiliki ruang and other GMS. Each forum has a distinct scope of
lingkup pembahasan yang berbeda sesuai dengan discussion in accordance with regulatory mandates and
mandat regulasi dan kebutuhan pengambilan keputusan the needs for strategic decision-making. The structure
strategis. Adapun struktur dan cakupan agenda RUPS di and scope of the GMS agenda within the Company can
lingkungan Perseroan dapat dijelaskan sebagai berikut: be described as follows:
1. RUPS Pengesahan Rencana Kerja dan Anggaran 1. GMS for the Ratification of the Company's Work Plan
Perusahaan (“RKAP”) selambat-lambatnya 30 (tiga and Budget (“RKAP”) no later than 30 (thirty) days
puluh) hari setelah tahun anggaran berjalan; after the current fiscal year;
2. RUPS Pengesahan Laporan Tahunan tahun buku yang 2. GMS for Ratification of the Annual Report for the
bersangkutan diadakan dalam jangka waktu paling relevant fiscal year is held no later than 6 (six) months
lambat 6 (enam) bulan setelah tahun buku berakhir; after the fiscal year ends;
3. RUPS Pengesahan Rencana Jangka Panjang 3. GMS for the Ratification of the Company's Long-Term
Perusahaan, yang dilakukan setiap 5 (lima) tahun Plan, which is held every 5 (five) years, no later than
sekali, selambat-lambatnya 30 (tiga puluh) hari 30 (thirty) days after the current period; and
setelah periode berjalan; dan
4. RUPS lainnya dapat diadakan setiap waktu 4. Other GMS can be held at any time based on the need
berdasarkan kebutuhan untuk kepentingan for the Company's interests.
perusahaan.
PELAKSANAAN RUPS TAHUN 2025 IMPLEMENTATION OF THE
GENERAL MEETING OF
SHAREHOLDERS (GMS) IN 2025
Di tahun 2025, PT SMI menyelenggarakan 4 (empat) In 2025, the Company held 4 (four) GMS sessions,
kali RUPS yang terdiri dari RUPS Tahunan (RUPST) consisting of 2 (two) Annual GMS (AGMS) addressing
mengenai Laporan Tahunan Perseroan Tahun Buku the Company's Annual Report for the 2024 Fiscal Year
2024 dan Rencana Kerja dan Anggaran Perusahaan and the Company’s Work Plan and Budget for the 2026
Tahun Buku 2026, serta 2 (dua) kali RUPS Luar Biasa Fiscal Year, as well as 2 (two) Extraordinary GMS (EGMS).
(RUPSLB). Penyelenggaraan seluruh RUPS telah mematuhi The implementation of all GMS sessions adhered to the PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
ketentuan penyelenggaraan RUPS Perseroan di bawah regulations governing the Company's GMS under the
pembinaan dan pengawasan Menteri Keuangan. supervision and guidance of the Minister of Finance.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Rapat Umum Pemegang Saham Tahunan tentang Laporan Tahunan Perseroan Tahun Buku 2024
Annual General Meeting of Shareholders on the Company’s Annual Report for the 2024 Fiscal Year
Tanggal
7 Mei 2025
Pelaksanaan
May 7, 2025
Date of Meeting
Penyelenggaraan RUPS secara tatap muka bertempat di Ruang Rapat Direktur Jenderal Kekayaan Negara,
Tempat dan Sarana Gedung Syafrudin Prawiranegara Lantai 10, Jalan Lapangan Banteng Timur No. 2–4, Jakarta Pusat 10710
Venue and Facilities The GMS was conducted in person at the Meeting Room of the Director General of State Assets, Syafrudin
Prawiranegara Building, 10th Floor, Jalan Lapangan Banteng Timur No. 2–4, Central Jakarta 10710.
Pemegang Saham
Shareholders
1. Rionald Silaban
Direktur Jenderal Kekayaan Negara Kementerian Keuangan Republik Indonesia, selaku Kuasa Pemegang
Saham
Director General of State Assets, Ministry of Finance of the Republic of Indonesia, as the Proxy Shareholder
2. Meirijal Nur
Direktur Kekayaan Negara Dipisahkan, Direktorat Jenderal Kekayaan Negara, Kementerian Keuangan
Republik Indonesia
Director of Separated State Assets, Directorate General of State Assets, Ministry of Finance of the Republic
of Indonesia
Dewan Komisaris
Board of Commissioners
1. Suminto
Komisaris Utama
President Commissioner
2. Suryo Utomo
Komisaris
Commissioner
3. Ancella Anitawati Hermawan
Komisaris Independen
Independent Commissioner
4. Dikdik Yustandi
Komisaris Independen
Independent Commissioner
5. Arief Wibisono Lubis
Daftar Hadirin Komisaris Independen
List of Attendees Independent Commissioner
Dewan Pengawas Syariah
Sharia Supervisory Board
1. Kanny Hidaya
Ketua Dewan Pengawas Syariah
Chairman of the Sharia Supervisory Board
2. Abdul Mughni
Anggota Dewan Pengawas Syariah
Member of the Sharia Supervisory Board
Direksi
Board of Directors
1. Reynaldi Hermansjah
Direktur Utama
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
President Director
2. Aradita Priyanti
Direktur
Director
3. Faaris Pranawa
Direktur
Director
4. Sylvi J. Gani
Direktur
Director
5. Pradana Murti
Direktur
Director
404
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Rapat Umum Pemegang Saham Tahunan tentang Laporan Tahunan Perseroan Tahun Buku 2024
Annual General Meeting of Shareholders on the Company’s Annual Report for the 2024 Fiscal Year
Tanggal
7 Mei 2025
Pelaksanaan
May 7, 2025
Date of Meeting
1. Persetujuan atas Laporan Tahunan Perseroan Tahun Buku 2024 yang mencakup:
a. Pengesahan Laporan Keuangan Perseroan Tahun Buku 2024.
b. Pengesahan atas Laporan Keuangan dan Laporan Pelaksanaan Tanggung Jawab Sosial dan
Lingkungan Tahun Buku 2024
c. Persetujuan Laporan Tugas Pengawasan Dewan Komisaris Perseroan Tahun Buku 2024.
d. Persetujuan Laporan Tugas Pengawasan Dewan Pengawas Syariah Perseroan Tahun Buku 2024; dan
e. Pemberian Pelunasan dan Pembebasan Sepenuhnya (Acquit et de Charge) kepada Seluruh Anggota
Dewan Komisaris, dan Direksi Perseroan atas Tindakan Pengawasan dan Pengurusan yang telah
dijalankan selama Tahun Buku 2024.
2. Penetapan Penggunaan Laba Bersih Perseroan Tahun Buku 2024.
3. Pembayaran Tantiem Dewan Komisaris dan Direksi berdasarkan Kinerja Tahun Buku 2024 serta Penyesuaian
Remunerasi Dewan Komisaris dan Direksi Perseroan untuk Tahun Buku 2025.
Agenda RUPS 4. Pemberhentian dan pengangkatan anggota Dewan Komisaris dan Dewan Pengawas Syariah Perseroan
GMS Agenda 1. Approval of the Company's Annual Report for 2024 Fiscal Year, which includes:
a. Ratification of the Company’s Financial Statements for 2024 Fiscal Year.
b. Ratification of the Financial Report and Corporate Social Responsibility Report for 2024 Fiscal Year.
c. Approval of the Supervisory Report of the Board of Commissioners for 2024 Fiscal Year.
d. Approval of the Supervisory Report of the Sharia Supervisory Board for 2024 Fiscal Year; and
e. Granting of the full release and discharge (acquit de charge) of all members of the Board of
Commissioners and Board of Directors of the Company from supervisory and management actions that
were carried out in the 2024 Fiscal Year.
2. Determination of the appropriation of the Company’s net profit for 2024 Fiscal Year.
3. Payment of tantiem to the Board of Commissioners and Board of Directors based on performance in 2024
Fiscal Year, as well as adjustment of remuneration of the Board of Commissioners and Board of Directors for
2025 Fiscal Year.
4. Dismissal and appointment of members of the Board of Commissioners and the Sharia Supervisory Board.
1. Menyetujui Laporan Tahunan Perseroan Tahun Buku 2024 yang mencakup:
a. Mengesahkan Laporan Keuangan Perseroan Tahun Buku 2024.
b. Mengesahkan Laporan Keuangan dan Laporan Tanggung Jawab Sosial dan Lingkungan Tahun 2024.
c. Menyetujui Laporan Tugas Pengawasan Dewan Komisaris Perseroan Tahun Buku 2024.
d. Menyetujui Laporan Tugas Pengawasan Dewan Pengawas Syariah Perseroan Tahun Buku 2024.
e. Pemberian Pelunasan dan Pembebasan Sepenuhnya (Acquit et de Charge) kepada Seluruh Anggota
Dewan Komisaris, dan Direksi Perseroan atas Tindakan Pengawasan dan Pengurusan yang telah
dijalankan selama Tahun Buku 2024
2. Menyetujui penggunaan laba bersih Perseroan Tahun Buku 2024 untuk dialokasikan sebagai:
a. Cadangan umum sebesar 30,04% dari laba bersih Perseroan dengan nilai pembulatan sebesar
Rp670.000.000.000,00 (enam ratus tujuh puluh miliar rupiah).
b. Dividen sebesar 25,02% dari laba bersih Perseroan dengan nilai pembulatan sebesar
Rp558.000.000.000,00 (lima ratus lima puluh delapan miliar rupiah), dan
c. Sisanya ditetapkan sebagai laba ditahan.
3. Menyetujui dan menetapkan bahwa penetapan keputusan penyesuaian gaji pokok/honorarium dan
tunjangan/fasilitas Direksi dan Dewan Komisaris Perseroan Tahun Buku 2025 serta pembayaran tantiem
berdasarkan kinerja tahun buku 2024 akan ditetapkan secara terpisah melalui keputusan Pemegang
Saham yang akan dilakukan secara sirkuler.
4. Menyetujui pengunduran diri anggota Dewan Komisaris Perseroan yaitu:
a. Saudara Suminto S.Sos sebagai Komisaris Utama sebagaimana surat pengunduran dirinya tanggal 9
April 2025, dan
b. Saudara Suryo Utomo sebagai Komisaris sebagaimana surat pengunduran dirinya tanggal 9 April 2025.
yang diangkat berdasarkan Keputusan Menteri Keuangan Nomor 296 Tahun 2024 tentang Pemberhentian
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Keputusan RUPS
dan Pengangkatan Anggota Dewan Komisaris Perusahaan Perseroan (Persero) PT Sarana Multi Infrastruktur;
GMS Resolutions
dengan ucapan
Mengangkat anggota Dewan Komisaris Perseroan yaitu:
a. Saudara Andin Hadiyanto sebagai Komisaris Utama dan
b. Saudara Askolani sebagai Komisaris,
dengan masa jabatan meneruskan masa jabatan anggota Dewan Komisaris yang digantikannya, yaitu
terhitung sejak ditutupnya Rapat sampai dengan tanggal 5 Juli 2029, dengan tidak mengurangi hak Rapat
Umum Pemegang Saham untuk memberhentikan sewaktu-waktu.
Memberhentikan dengan hormat anggota Dewan Pengawas Syariah Perseroan yaitu:
a. Saudara Kanny Hidaya Yamasawasa Wijaya sebagai Ketua Dewan Pengawas Syariah, dan
b. Saudara Abdul Mughni sebagai Anggota Dewan Pengawas Syariah,
yang diangkat berdasarkan Keputusan Menteri Keuangan Nomor 290/KMK.06/2020 tentang Pemberhentian
dan Pengangkatan Anggota Dewan Pengawas Syariah Perusahaan Perseroan (Persero) PT Sarana Multi
Infrastruktur, dengan ucapan terima kasih atas segala sumbangan tenaga dan pikirannya selama
memangku jabatan tersebut.
Mengangkat anggota Dewan Pengawas Syariah Perseroan yaitu:
a. Saudara Kanny Hidaya Yamasawasa Wijaya sebagai Ketua Dewan Pengawas Syariah, dan
b. Saudara Muhammad Faishol sebagai anggota Dewan Pengawas Syariah,
dengan masa jabatan 5 (lima) tahun, terhitung sejak ditutupnya Rapat sampai dengan penutupan
Rapat Umum Pemegang Saham Tahunan Persetujuan Laporan Tahunan Tahun Buku 2029, dengan tidak
mengurang hak Rapat Umum Pemegang Saham untuk memberhentikan sewaktu-waktu.
405
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05 Tata Kelola Perusahaan
Good Corporate Governance
Rapat Umum Pemegang Saham Tahunan tentang Laporan Tahunan Perseroan Tahun Buku 2024
Annual General Meeting of Shareholders on the Company’s Annual Report for the 2024 Fiscal Year
Tanggal
7 Mei 2025
Pelaksanaan
May 7, 2025
Date of Meeting
1. Approved the Company's Annual Report for 2024 Fiscal Year, which includes:
a. Ratification of the Company’s Financial Statements for 2024 Fiscal Year.
b. Ratification of the Financial Statements and the Social and Environmental Responsibility Report for
2024.
c. Approval of the Supervisory Report of the Board of Commissioners for 2024 Fiscal Year.
d. Approval of the Supervisory Report of the Sharia Supervisory Board for 2024 Fiscal Year.
e. Granting of the Full Release and Discharge (Acquit et de Charge) to all members of the Board of
Commissioners and the Board of Directors for supervisory and management actions performed
during 2024 Fiscal Year.
2. Approved the appropriation of the Company’s net profit for 2024 Fiscal Year to be allocated as follows:
a. General reserves amounting to 30.04% of the Company’s net profit, with a rounded value of
Rp670,000,000,000 (six hundred seventy billion rupiah).
b. Dividends amounting to 25.02% of the Company’s net profit, with a rounded value of
Rp558,000,000,000 (five hundred fifty-eight billion rupiah); and
c. The remainder to be designated as retained earnings.
3. Approved and determined that decisions regarding adjustments to base salary/honorarium and
allowances/facilities of the Board of Directors and the Board of Commissioners for 2025 Fiscal Year, as
well as the payment of tantiem based on 2024 Fiscal Year performance, shall be stipulated separately
through a Shareholders’ Circular Resolution.
4. Approved the resignation of the following members of the Board of Commissioners:
a. Suminto S.Sos as President Commissioner, as per his resignation letter dated April 9, 2025; and
b. Suryo Utomo as Commissioner, as per his resignation letter dated April 9, 2025,
who were appointed based on the Decree of the Minister of Finance No. 296 of 2024 concerning the
Dismissal and Appointment of Members of the Board of Commissioners of PT Sarana Multi Infrastruktur
(Persero), with appreciation.
Appointed of the following members of the Board of Commissioners:
a. Andin Hadiyanto as President Commissioner; and
b. Askolani as Commissioner,
for the remainder of the term of office of the replaced members, effective from the closing of the Meeting
until July 5, 2029, without prejudice to the right of the General Meeting of Shareholders to dismiss them at
any time.
Honorably dismissed the following members of the Sharia Supervisory Board:
a. Kanny Hidaya Yamasawasa Wijaya as Chairman of the Sharia Supervisory Board; and
b. Abdul Mughni as Member of the Sharia Supervisory Board,
who were appointed based on the Decree of the Minister of Finance No. 290/KMK.06/2020 concerning the
Dismissal and Appointment of Members of the Sharia Supervisory Board of PT Sarana Multi Infrastruktur
(Persero), with appreciation for their dedication and contributions during their tenure.
Appointed the following members of the Sharia Supervisory Board:
a. Kanny Hidaya Yamasawasa Wijaya as Chairman of the Sharia Supervisory Board; and
b. Muhammad Faishol as Member of the Sharia Supervisory Board,
for a term of 5 (five) years effective from the closing of the Meeting until the closing of the Annual
General Meeting of Shareholders approving the Annual Report for 2029 Fiscal Year, without prejudice to
the right of the General Meeting of Shareholders to dismiss them at any time.
Realisasi/Tindak Lanjut Seluruh keputusan telah direalisasikan dan tindak lanjuti
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Realization/Follow Up All resolutions have been implemented and followed up.
Rapat Umum Pemegang Saham Tahunan tentang Rencana Kerja dan Anggaran Perusahaan 2026
Annual General Meeting of Shareholders on the Company's 2026 Work Plan and Budget
Tanggal Pelaksanaan 10 Desember 2025
Date of Meeting December 10, 2025
Penyelenggaraan RUPS secara tatap muka bertempat di Ruang Rapat Direktur Jenderal
Kekayaan Negara, Gedung Syafrudin Prawiranegara Lantai 10, Jalan Lapangan Banteng Timur No.
Tempat dan Sarana 2–4, Jakarta Pusat 10710
Venue and Facilities The GMS was conducted in person at the Meeting Room of the Director General of State Assets,
Syafrudin Prawiranegara Building, 10th Floor, Jalan Lapangan Banteng Timur No. 2–4, Central
Jakarta 10710.
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Rapat Umum Pemegang Saham Tahunan tentang Rencana Kerja dan Anggaran Perusahaan 2026
Annual General Meeting of Shareholders on the Company's 2026 Work Plan and Budget
Tanggal Pelaksanaan 10 Desember 2025
Date of Meeting December 10, 2025
Pemegang Saham
Shareholders
1. Rionald Silaban
Direktur Jenderal Kekayaan Negara Kementerian Keuangan Republik Indonesia, selaku Kuasa
Pemegang Saham
Director General of State Assets, Ministry of Finance of the Republic of Indonesia, as the Proxy
Shareholder
2. Meirijal Nur
Direktur Kekayaan Negara Dipisahkan, Direktorat Jenderal Kekayaan Negara, Kementerian
Keuangan Republik Indonesia
Director of Separated State Assets, Directorate General of State Assets, Ministry of Finance of
the Republic of Indonesia
Dewan Komisaris
Board of Commissioners
1. Andin Hadiyanto
Komisaris Utama
President Commissioner
2. Askolani
Komisaris
Commissioner
3. Ancella Anitawati Hermawan
Komisaris Independen
Independent Commissioner
4. Dikdik Yustandi
Komisaris Independen
Independent Commissioner
5. Arief Wibisono Lubis
Daftar Hadirin
Komisaris Independen
List of Attendees
Independent Commissioner
Dewan Pengawas Syariah
Sharia Supervisory Board
1. Kanny Hidaya
Ketua Dewan Pengawas Syariah
Chairman of the Sharia Supervisory Board
2. Muhammad Faishol
Anggota Dewan Pengawas Syariah
Member of the Sharia Supervisory Board
Direksi
Board of Directors
1. Reynaldi Hermansjah
Direktur Utama
President Director
2. Aradita Priyanti
Direktur
Director
3. Faaris Pranawa
Direktur PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Director
4. Sylvi J. Gani
Direktur
Director
5. Pradana Murti
Direktur
Director
Pembahasan dan Persetujuan Rencana Kerja dan Anggaran Perusahaan Perseroan Tahun 2026
(dua ribu dua puluh enam) serta Pembahasan dan Persetujuan Kontrak Kinerja Direksi, Dewan
Agenda RUPS Komisaris, dan Dewan Pengawas Syariah Tahun 2026 (dua ribu dua puluh enam).
GMS Agenda Discussion and Approval of the Company’s Work Plan and Budget for 2026 (two thousand twenty-
six), as well as Discussion and Approval of the Performance Contracts of the Board of Directors, Board
of Commissioners, and Sharia Supervisory Board for 2026 (two thousand twenty-six).
407
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05 Tata Kelola Perusahaan
Good Corporate Governance
Rapat Umum Pemegang Saham Tahunan tentang Rencana Kerja dan Anggaran Perusahaan 2026
Annual General Meeting of Shareholders on the Company's 2026 Work Plan and Budget
Tanggal Pelaksanaan 10 Desember 2025
Date of Meeting December 10, 2025
Menyetujui Rencana Kerja dan Anggaran Perusahaan PT Sarana Multi Infrastruktur (Persero)
Tahun 2026 (dua ribu dua puluh enam) serta Kontrak Kinerja Dewan Komisaris, Kontrak Kinerja
Dewan Pengawas Syariah dan Kontrak Kerja Direksi, PT Sarana Multi Infrastruktur (Persero) Tahun
Keputusan RUPS 2026 (dua ribu dua puluh enam).
GMS Resolutions Approval of the Company’s Work Plan and Budget of PT Sarana Multi Infrastruktur (Persero)
for 2026 (two thousand twenty-six), as well as the Performance Contracts of the Board of
Commissioners, the Sharia Supervisory Board, and the Board of Directors of PT Sarana Multi
Infrastruktur (Persero) for 2026 (two thousand twenty-six).
Realisasi/Tindak Lanjut Seluruh keputusan telah direalisasikan dan tindak lanjuti
Realization/Follow Up All resolutions have been implemented and followed up.
RAPAT UMUM PEMEGANG EXTRAORDINARY GENERAL MEETING
SAHAM LUAR BIASA 2025 OF SHAREHOLDERS (EGMS) IN 2025
Di tahun 2025, Perseroan telah menyelenggarakan RUPS In 2025, the Company held 2 (two) Extraordinary General
Luar Biasa sebanyak 2 (dua) kali yang dilakukan melalui Meetings of Shareholders (EGMS), both conducted
Keputusan Sirkuler Rapat Umum Pemegang Saham through Circular Resolutions of the General Meeting of
Perseroan. Rincian pelaksanaan RUPS Luar Biasa di tahun Shareholders. The details of the Extraordinary GMS held
2025 dapat dilihat sebagai berikut: in 2025 are as follows:
Rapat Umum Pemegang Saham Luar Biasa Pengangkatan Kembali Anggota Direksi Perseroan
Extraordinary General Meeting of Shareholders on the Reappointment of Members of the Board of Directors
Tanggal Pelaksanaan 28 Februari 2025
Date of Meeting February 28, 2025
Surat Keputusan Keputusan Menteri Keuangan Nomor 47 Tahun 2025
Decree Decree of the Minister of Finance No. 47 of 2025
Pengangkatan Kembali Anggota Direksi Perusahaan Perseroan (Persero) PT Sarana Multi
Agenda RUPS
Infrastruktur (SMI)
GMS Agenda
Reappointment of a Member of the Board of Directors of PT Sarana Multi Infrastruktur (Persero)
1. Mengangkat kembali Sdri. Sylvi J. Gani sebagai anggota Direksi pada Perusahaan Perseroan
(Persero) PT Sarana Multi Infrastruktur.
2. Masa jabatan anggota Direksi, terhitung sejak tanggal 23 Maret 2025.
3. Memberi kuasa dengan hak substitusi kepada Direksi Perusahaan Perseroan (Persero)
PT Sarana Multi Infrastruktur untuk menyatakan segala sesuatu yang diputuskan dalam
Keputusan Menteri ini dalam bentuk otentik di hadapan Notaris atau pejabat yang
Keputusan RUPS berwenang.
GMS Resolutions 1. To reappoint Sylvi J. Gani as a member of the Board of Directors of PT Sarana Multi
Infrastruktur (Persero).
2. The term of office of the member of the Board of Directors shall commence as of March 23,
2025.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
3. To grant power of attorney, with the right of substitution, to the Board of Directors of PT
Sarana Multi Infrastruktur (Persero) to formalize all matters stipulated in this Ministerial
Decree in the form of an authentic deed before a Notary or other authorized official.
Realisasi/Tindak Lanjut Seluruh keputusan telah direalisasikan dan tindak lanjuti
Realization/Follow Up All resolutions have been implemented and followed up.
Rapat Umum Pemegang Saham Luar Biasa Penunjukkan Kantor Akuntan Publik
Extraordinary General Meeting of Shareholders on the Appointment of Public Accounting Firm
Tanggal Pelaksanaan 7 Desember 2025
Date of Meeting December 7, 2025
Keputusan Sirkuler Rapat Umum Pemegang Saham Perusahaan Perseroan (Persero) PT
Surat Keputusan Sarana Multi Infrastruktur Nomor 429/MK/KN/2025
Decree Circular Resolution of the General Meeting of Shareholders of PT Sarana Multi Infrastruktur
(Persero) No. 429/MK/KN/2025
Penetapan Kantor Akuntan Publik untuk Melakukan Audit atas Laporan Keuangan Historis
dan Pemberian Jasa Lainnya pada Perusahaan Perseroan (Persero) PT Sarana Multi
Agenda RUPS
Infrastruktur Tahun Buku 2025
GMS Agenda
Appointment of Public Accounting Firm to Audit Historical Financial Statements and Provide
Other Services for 2025 Fiscal Year
408
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Rapat Umum Pemegang Saham Luar Biasa Penunjukkan Kantor Akuntan Publik
Extraordinary General Meeting of Shareholders on the Appointment of Public Accounting Firm
Tanggal Pelaksanaan 7 Desember 2025
Date of Meeting December 7, 2025
1. Menetapkan Kantor Akuntan Publik (KAP) Amir Abadi Jusuf, Aryanto, Mawar dan Rekan
(KAP RSM Indonesia) sebagai Kantor Akuntan Publik yang akan melakukan Audit atas
Laporan Keuangan Historis dan Pemberian Jasa Lainnya pada Perseroan Tahun Buku
2025
2. Menyetujui Imbal Jasa Audit sebesar Rp2.301.030.000,00 (dua miliar tiga ratus satu
juta tiga puluh ribu rupiah) termasuk Pajak Pertambahan Nilai (PPN) dan Out of Pocket
Expenses (OPE).
3. Menyetujui untuk memberikan kekuasaan dan kewenangan kepada setiap anggota
Direksi Perseroan (untuk dan atas nama Perseroan) dengan hak substitusi untuk
melakukan setiap dan semua tindakan, dan menandatangani dan menyampaikan
setiap dan semua dokumen yang diperlukan untuk melaksanakan setiap dan
semua Keputusan ini, termasuk menghadap notaris, dan untuk menyampaikan serta
mendaftarkan setiap dan semua dokumen kepada pihak yang berwenang, dan secara
umum untuk melakukan setiap dan semua hal yang diperlukan untuk proses dan
penyelesaian penetapan Kantor Akuntan Publik.
4. Memastikan pemberian kuasa ini dilaksanakan sesuai dengan prinsip efisiensi,
kewajaran, dan tata kelola perusahaan yang baik, serta sesuai dengan ketentuan
perundang-undangan yang berlaku.
Keputusan RUPS 5. Direksi Perseroan wajib melaporkan hasil pelaksanaan keputusan ini kepada Menteri
GMS Resolutions Keuangan selaku Pemegang Saham Perseroan.
1. To appoint Public Accounting Firm (KAP) Amir Abadi Jusuf, Aryanto, Mawar and
Rekan (KAP RSM Indonesia) as the Public Accounting Firm to conduct the audit of the
Company’s Historical Financial Statements and to provide other services for 2025 Fiscal
Year.
2. To approve an audit fee of IDR2,301,030,000 (two billion three hundred one million thirty
thousand rupiah), inclusive of Value Added Tax (VAT) and Out of Pocket Expenses (OPE).
3. To approve granting authority and power to each member of the Company’s Board of
Directors (for and on behalf of the Company), with the right of substitution, to undertake
any and all actions, and to sign and submit any and all documents necessary to
implement these Resolutions, including appearing before a notary, and to submit and
register any and all documents with the competent authorities, and in general to take
any and all actions required for the process and completion of the appointment of the
Public Accounting Firm.
4. To ensure that the granting of such authority is carried out in accordance with
the principles of efficiency, fairness, and good corporate governance, as well as in
compliance with applicable laws and regulations.
5. The Company’s Board of Directors shall report the implementation of this resolution to
the Minister of Finance as the Company’s Shareholder.
Realisasi/Tindak Lanjut Seluruh keputusan telah direalisasikan dan tindak lanjuti
Realization/Follow Up All resolutions have been implemented and followed up.
PELAKSANAAN RUPS TAHUN 2024 IMPLEMENTATION OF GENERAL
MEETING OF SHAREHOLDERS
(GMS) IN 2024
Di tahun 2024, Perseroan telah menyelenggarakan Throughout 2024, the Company held a total of 4 (four) PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
sebanyak 4 (empat) kali RUPS yang terdiri dari 2 (dua) GMS sessions, consisting of 2 (two) Annual GMS (AGMS)
kali RUPS Tahunan (RUPST) mengenai Laporan Tahunan addressing the Company's Annual Report for the 2023
Perseroan Tahun Buku 2023 dan Rencana Kerja dan Fiscal Year and the Company’s Work Plan and Budget
Anggaran Perusahaan Tahun Buku 2025, serta 2 (dua) for the 2025 Fiscal Year, as well as 2 (two) Extraordinary
kali RUPS Luar Biasa (RUPSLB). Penyelenggaraan seluruh GMS (EGMS). The holding of all GMS sessions adhered
RUPS telah mematuhi ketentuan penyelenggaraan RUPS to the regulations governing the Company's GMS under
Perseroan di bawah pembinaan dan pengawasan the supervision and guidance of the Minister of Finance.
Menteri Keuangan.
RUPS Tahunan I tentang Laporan Tahunan Annual GMS I on the Company’s 2023
Perseroan Tahun Buku 2023 Annual Report
RUPS Tahunan ini merupakan wadah laporan This Annual General Meeting of Shareholders serves as a
pertanggungjawaban pengawasan dan pengelolaan forum for accountability reporting on the supervision and
Perseroan selama tahun buku yang berakhir 31 Desember management of the Company for the fiscal year ended
2023 kepada Pemegang Saham. Hasil Keputusan RUPST December 31, 2023, to the Shareholder. The resolutions
ini telah dimuat dalam Akta Pernyataan Keputusan Rapat of this AGMS were set forth in the Deed of Statement of
Umum Pemegang Saham No. 42 tanggal 20 Mei 2024 Resolutions of the General Meeting of Shareholders No.
yang dibuat di hadapan Ashoya Ratam, S.H., M.Kn, Notaris 42 dated May 20, 2024, drawn up before Ashoya Ratam,
di Jakarta. S.H., M.Kn., Notary in Jakarta. 409
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05 Tata Kelola Perusahaan
Good Corporate Governance
Rincian pelaksanaan RUPS Tahunan tentang Laporan The details of the Annual GMS on the Company’s 2023
Tahunan Perseroan Tahun Buku 2023 dapat dilihat Annual Report are as follows:
sebagai berikut:
Tanggal Pelaksanaan 20 Mei 2024
Date of Meeting May 20, 2024
Penyelenggaraan RUPS secara tatap muka bertempat di Ruang Rapat Hotel The St. Regis Jakarta,
Rajawali Place, Jl. H. R. Rasuna Said No.4 Blok Kav. B, Kuningan, Setia Budi, Kecamatan Setiabudi, Kota
Tempat dan Sarana Jakarta Selatan, Daerah Khusus Ibukota Jakarta 12910
Venue and Facilities The GMS was conducted in person at the Meeting Room of The St. Regis Jakarta Hotel, Rajawali
Place, Jl. H. R. Rasuna Said No. 4, Blok Kav. B, Kuningan, Setia Budi, Setiabudi District, South Jakarta,
Special Capital Region of Jakarta, 12910.
Pemegang Saham
Shareholders
1. Rionald Silaban
Direktur Jenderal Kekayaan Negara Kementerian Keuangan Republik Indonesia, selaku Kuasa
Pemegang Saham
Director General of State Assets, Ministry of Finance of the Republic of Indonesia, as the Proxy
Shareholder
2. Meirijal Nur
Direktur Kekayaan Negara Dipisahkan, Direktorat Jenderal Kekayaan Negara, Kementerian
Keuangan Republik Indonesia
Director of Separated State Assets, Directorate General of State Assets, Ministry of Finance of the
Republic of Indonesia
Dewan Komisaris
Board of Commissioners
1. Hadiyanto
Komisaris Utama merangkap Komisaris Independen
President Commissioner and Independent Commissioner
2. Suryo Utomo
Komisaris
Commissioner
3. Kunta Wibawa Dasa Nugraha
Komisaris
Commissioner
4. Sukatmo Padmosukarso
Komisaris Independen
Independent Commissioner
Daftar Hadirin
5. Iskandar Saleh
List of Attendees
Komisaris Indepeden
Independent Commissioner
Dewan Pengawas Syariah Sharia Supervisory Board
1. Kanny Hidaya
Ketua Dewan Pengawas Syariah
Chairman of the Sharia Supervisory Board
2. Abdul Mughni
Anggota Dewan Pengawas Syariah
Member of the Sharia Supervisory Board
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Direksi Board of Directors
1. Edwin Syahruzad
Direktur Utama
President Director
2. Darwin Trisna Djajawinata
Direktur
Director
3. Faaris Pranawa
Direktur
Director
4. Sylvi Juniarty Gani
Direktur
Director
5. Pradana Murti
Direktur
Director
410
Page 141
Tanggal Pelaksanaan 20 Mei 2024
Date of Meeting May 20, 2024
1. Persetujuan atas Laporan Tahunan Perseroan Tahun Buku 2023 yang mencakup:
a. Pengesahan Laporan Keuangan Perseroan Tahun 2023;
b. Persetujuan Laporan Tugas Pengawasan Dewan Komisaris Tahun Buku 2023;
c. Pemberian Pelunasan dan Pembebasan Sepenuhnya (Acquit de Charge) kepada
Seluruh Anggota Dewan Komisaris dan Direksi Perseroan atas Tindakan Pengawasan dan
Pengurusan yang telah Dijalankan selama Tahun Buku 2023.
2. Penetapan Laba Bersih Perseroan Tahun Buku 2023.
3. Pembayaran Tantiem Direksi dan Dewan Komisaris Perseroan berdasarkan Kinerja Tahun Buku
2023 serta Penyesuaian Remunerasi Direksi dan Dewan Komisaris Perseroan Tahun Buku 2024.
Agenda RUPS
1. Approval of the Company's Annual Report for 2023 Fiscal Year, which includes:
GMS Agenda
a. Ratification of the Company’s Financial Statements for Fiscal Year 2023.
b. Approval of the Supervisory Report of the Board of Commissioners for 2023 Fiscal Year.
c. Granting of the full release and discharge (acquit de charge) of all members of the Board of
Commissioners and Board of Directors of the Company from supervisory and management
actions that were carried out in the 2023 Fiscal Year.
2. Determination of the appropriation of the Company’s net profit for 2023 Fiscal Year.
3. Payment of tantiem to the Board of Commissioners and Board of Directors based on
performance in 2023 Fiscal Year, as well as adjustment of remuneration of the Board of
Commissioners and Board of Directors for 2024 Fiscal Year.
1. Menyetujui Laporan Tahunan Perseroan Tahun Buku 2023 yang mencakup:
a. Mengesahkan Laporan Keuangan Perseroan Tahun 2023;
b. Menyetujui Laporan Tugas Pengawasan Dewan Komisaris Tahun Buku 2023;
c. Pemberian Pelunasan dan Pembebasan Sepenuhnya (Acquit de Charge) kepada
Seluruh Anggota Dewan Komisaris dan Direksi Perseroan atas Tindakan Pengawasan dan
Pengurusan yang telah Dijalankan selama Tahun Buku 2023 sepanjang Tindakan tersebut
bukan merupakan tindak pidana dan tercermin dalam Laporan Keuangan Perseroan.
2. Penggunaan laba bersih Perseroan tahun buku 2023 (dua ribu dua puluh tiga) untuk
dialokasikan sebagai:
a. Cadangan umum 30% (tiga puluh persen) dengan nilai pembulatan Rp623.500.000.000
(enam ratus dua puluh tiga miliar lima juta Rupiah);
b. Dividen sebesar 25% (dua puluh lima persen) dari laba bersih Perseroan tahun 2023 (dua
ribu dua puluh tiga) dengan nilai pembulatan Rp520.000.000.000 (lima ratus dua puluh
miliar Rupiah);
c. Sisanya ditetapkan sebagai laba ditahan.
Pembayaran dividen agar segera dilakukan sesuai dengan ketentuan Peraturan Menteri
Keuangan (PMK) No. 179/PMK.02/2022 tentang Tata Cara Pengelolaan Penerimaan Negara
Bukan Pajak dari Kekayaan Negara dipisahkan oleh Bendahara Umum Negara.
3. Menetapkan bahwa penetapan keputusan penyesuaian gaji/honorarium dan tunjangan/
fasilitas Direksi dan Dewan Komisaris Perseroan Tahun Buku 2024 serta pembayaran tantiem
berdasarkan kinerja Tahun Buku 2023 akan ditetapkan secara terpisah melalui keputusan
Pemegang Saham yang akan dilakukan secara sirkuler.
Keputusan RUPS
1. Approved the Company's Annual Report for 2023 Fiscal Year, which includes:
GMS Resolutions
a. Ratification of the Company’s Financial Statements for 2023 Fiscal Year.
b. Approval of the Supervisory Report of the Board of Commissioners for 2023 Fiscal Year.
c. Granting of the full release and discharge (acquit de charge) of all members of the Board of
Commissioners and Board of Directors of the Company from supervisory and management
actions that were carried out in the 2023 Fiscal Year, as long as said actions were not
criminal actions, and they were reflected in the Annual Report including the Company’s
Financial Statements.
2. Approved the allocation of net profit for the 2023 Fiscal Year (two thousand and twenty-three)
to be distributed as follows:
a. General reserves amounting to 30% of the Company’s net profit, with a rounded value of
IDR623,500,000,000 (six hundred twenty-three billion five million Rupiah).
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
b. Dividends amounting to 25% (twenty-five percent) of the Company’s net profit, with a
rounded value of IDR595,100,000,000 (five hundred ninety-five billion one hundred million
Rupiah); and
c. The remainder to be designated as retained earnings.
Dividend payments are to be carried out promptly in accordance with the provisions of
Regulation of the Minister of Finance No. 179/PMK.02/2022 concerning Procedures for Managing
Non-Tax State Revenue Derived from Separated State-Assets by the State General Treasurer.
3. Determined that decisions regarding adjustments to base salary/honorarium and allowances/
facilities of the Board of Directors and the Board of Commissioners for 2024 Fiscal Year, as
well as the payment of tantiem based on 2023 Fiscal Year performance, shall be stipulated
separately through a Shareholders’ Circular Resolution.
Realisasi/Tindak Lanjut Seluruh keputusan telah direalisasikan dan tindak lanjuti
Realization/Follow Up All resolutions have been implemented and followed up.
411
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05 Tata Kelola Perusahaan
Good Corporate Governance
RUPS Tahunan II tentang Rencana Kerja Annual GMS II on the Company’s 2025 Work
dan Anggaran Perusahaan 2025 Plan and Budget
RUPS Tahunan ini merupakan forum pemaparan rencana The Annual General Meeting of Shareholders (AGMS)
strategis pengelolaan Perseroan dan kontrak kinerja serves as a forum for presenting the Company's strategic
Direksi, Dewan Komisaris, dan Dewan Pengawas Syariah management plan and the performance contracts of the
Perseroan untuk tahun buku 2025. Hasil Keputusan RUPST Board of Directors, Board of Commissioners, and Sharia
ini telah dimuat dalam Akta Pernyataan Keputusan Rapat Supervisory Board for the 2025 fiscal year. The resolutions
Umum Pemegang Saham No. 52 Tanggal 17 Desember of AGMS have been documented in the Deed of Statement
2024. of General Meeting of Shareholders' Resolutions No. 52
dated December 17, 2024.
Rincian pelaksanaan RUPS Tahunan tentang Rencana The details of the Annual GMS on the Company’s 2025
Kerja dan Anggaran Perusahaan 2025 dapat dilihat Work Plan and Budget are as follows:
sebagai berikut:
Tanggal Pelaksanaan 17 Desember 2024
Date of Meeting December 17, 2024
Penyelenggaraan RUPS secara tatap muka bertempat di Ruang Rapat Direktur Jenderal Kekayaan
Negara, Gedung Syafrudin Prawiranegara Lantai 10, Jalan Lapangan Banteng Timur No. 2 – 4, Jakarta
Tempat dan Sarana Pusat 10710
Venue and Facilities The GMS was conducted in person at the Meeting Room of the Directorate General of State Assets,
Syafrudin Prawinegara Building, 10th Floor, Jalan Lapangan Banteng Timur No. 2 – 4, Central Jakarta
10710
Pemegang Saham
Shareholders
1. Rionald Silaban
Direktur Jenderal Kekayaan Negara Kementerian Keuangan Republik Indonesia, selaku Kuasa
Pemegang Saham
Director General of State Assets, Ministry of Finance of the Republic of Indonesia, as the Proxy
Shareholder
2. Meirijal Nur
Direktur Kekayaan Negara Dipisahkan, Direktorat Jenderal Kekayaan Negara, Kementerian
Keuangan Republik Indonesia
Director of Separated State Assets, Directorate General of State Assets, Ministry of Finance of the
Republic of Indonesia
Dewan Komisaris
Daftar Hadirin Board of Commissioners
List of Attendees 1. Suminto
Komisaris Utama
President Commissioner
2. Suryo Utomo
Komisaris
Commissioner
3. Ancella Anitawati Hermawan
Komisaris Independen
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Independent Commissioner
4. Dikdik Yustandi
Komisaris Independen
Independent Commissioner
5. Arief Wibisono Lubis
Komisaris Indepeden
Independent Commissioner
412
Page 143
Tanggal Pelaksanaan 17 Desember 2024
Date of Meeting December 17, 2024
Dewan Pengawas Syariah
Sharia Supervisory Board
1. Kanny Hidaya
Ketua Dewan Pengawas Syariah
Chairman of the Sharia Supervisory Board
2. Abdul Mughni
Anggota Dewan Pengawas Syariah
Member of the Sharia Supervisory Board
Direksi
Board of Directors
1. Reynaldi Hermansjah
Direktur Utama
President Director
2. Faaris Pranawa
Direktur
Director
3. Sylvi Juniarty Gani
Direktur
Director
4. Pradana Murti
Direktur
Director
5. Aradita Priyanti
Direktur
Director
Pembahasan dan Persetujuan Rencana Kerja dan Anggaran Perusahaan Perseroan Tahun 2025 serta
Pembahasan dan Persetujuan Kontrak Kinerja Direksi, Kontrak Kinerja Dewan Komisaris, dan Kontrak
Agenda RUPS Kinerja Dewan Pengawas Syariah Tahun 2025.
GMS Agenda Discussion and Approval of the Company’s 2025 Work Plan and Budget, as well as the Discussion and
Approval of the 2025 Performance Contracts for the Board of Directors, Board of Commissioners, and
Sharia Supervisory Board.
Menyetujui Rencana Kerja dan Anggaran Perusahaan PT Sarana Multi Infrastruktur (Persero) Tahun
2025 serta Kontrak Kinerja Direksi, Kontrak Kinerja Dewan Komisaris dan Kontrak Kinerja Dewan
Keputusan RUPS Pengawas Syariah Tahun 2025.
GMS Resolutions Approved the Company’s 2025 Work Plan and Budget, as well as the Discussion as well as the 2025
Performance Contracts for the Board of Directors, Board of Commissioners, and Sharia Supervisory
Board.
Realisasi/Tindak Lanjut Seluruh keputusan telah direalisasikan dan tindak lanjuti
Realization/Follow Up All resolutions have been implemented and followed up.
RUPS Luar Biasa Tahun 2024 Extraordinary GMS in 2024
Di tahun 2024, Perseroan telah menyelenggarakan RUPS In 2024, the Company held two (2) Extraordinary GMS
Luar Biasa sebanyak 2 (dua) kali yang dilakukan melalui (EGMS) conducted through Circular Resolutions of the
Keputusan Sirkuler Rapat Umum Pemegang Saham Company's General Meeting of Shareholders. The details
Perseroan. Rincian pelaksanaan RUPS Luar Biasa di tahun of the Extraordinary GMS conducted in 2024 are as follows:
2024 dapat dilihat sebagai berikut:
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
RUPS Luar Biasa I Perubahan Dewan Komisaris Perseroan
Extraordinary GMS I on the Changes in the Company’s Board of Commissioners
Tanggal Pelaksanaan 17 Juli 2024
Date of Meeting July 17, 2024
Surat Keputusan Keputusan Menteri Keuangan selaku Pemegang Saham No. 296 Tahun 2024
Decree Decree of the Minister of Finance as Shareholder No. 296 of 2024
Pemberhentian dan Pengangkatan Anggota Dewan Komisaris Perusahaan Perseroan (Persero) PT
Agenda RUPS Sarana Multi Infrastruktur
GMS Agenda Dismissal and Appointment of Members of the Board of Commissioners of PT Sarana Multi
Infrastruktur (Persero)
413
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05 Tata Kelola Perusahaan
Good Corporate Governance
RUPS Luar Biasa I Perubahan Dewan Komisaris Perseroan
Extraordinary GMS I on the Changes in the Company’s Board of Commissioners
Tanggal Pelaksanaan 17 Juli 2024
Date of Meeting July 17, 2024
1. Memberhentikan dengan hormat anggota Dewan Komisaris Perusahaan Perseroan (Persero) PT
Sarana Multi Infrastruktur, sebagai berikut:
a. Sdr. Hadiyanto sebagai Komisaris Utama merangkap Komisaris Independen
b. Sdr. A. Kunta Wibawa Dasa Nugraha sebagai Komisaris
c. Sdr. Suryo Utomo sebagai Komisaris
d. Sdr. Sukatmo Padmosukarso sebagai Komisaris Independen
e. Sdr. Iskandar Saleh sebagai Komisaris Independen
2. Mengangkat anggota Dewan Komisaris Perusahaan Perseroan (Persero) PT Sarana Multi
Infrastruktur, sebagai berikut:
a. Sdr. Suminto sebagai Komisaris Utama;
b. Sdr. Suryo Utomo sebagai Komisaris;
c. Sdri. Ancella Anitawati Hermawan sebagai Komisaris Independen;
d. Sdr. Dikdik Yustandi sebagai Komisaris Independen; dan
e. Sdr. Arief Wibisono Lubis sebagai Komisaris Independen.
3. Menetapkan masa jabatan anggota Dewan Komisaris sebagaimana dimaksud dalam Diktum
KEDUA untuk jangka waktu 5 (lima) tahun sejak tanggal 5 Juli 2024, dengan tidak mengurangi
hak Rapat Umum Pemegang Saham untuk memberhentikan sewaktu-waktu. Memberi
kuasa dengan hak substitusi kepada Direksi Perusahaan Perseroan (Persero) PT Sarana Multi
Infrastruktur untuk menyatakan segala sesuatu yang diputuskan dalam Keputusan Menteri ini
dalam bentuk otentik di hadapan Notaris atau pejabat yang berwenang. Keputusan Menteri ini
Keputusan RUPS
mulai berlaku pada tanggal ditetapkan.
GMS Resolutions
1. Honorably dismissed the following members of the Board of Commissioners of PT Sarana Multi
Infrastruktur (Persero):
a. Hadiyanto as President Commissioner concurrently Independent Commissioner
b. A. Kunta Wibawa Dasa Nugraha as Commissioner
c. Suryo Utomo as Commissioner
d. Sukatmo Padmosukarso as Independent Commissioner
e. Iskandar Saleh as Independent Commissioner
2. Appointed the following members of the Board of Commissioners of PT Sarana Multi Infrastruktur
(Persero):
a. Suminto as President Commissioner
b. Suryo Utomo as Commissioner
c. Ancella Anitawati Hermawan as Independent Commissioner
d. Dikdik Yustandi as Independent Commissioner
e. Arief Wibisono Lubis as Independent Commissioner
3. Determined the term of office for the members of the Board of Commissioners to be five (5)
years from July 5, 2024, as referred to in the SECOND dictum, without prejudice to the rights of the
General Meeting of Shareholders to dismiss them at any time. Granted authority with substitution
rights to the Board of Directors of PT Sarana Multi Infrastruktur (Persero) to formalize all decisions
in this Ministerial Decree in an authentic form before a Notary or authorized official. This Ministerial
Decree shall take effect from the date of issuance.
Realisasi/Tindak Lanjut Sampai dengan akhir 31 Desember 2024, seluruh keputusan telah direalisasikan dan ditindaklanjuti.
Realization/Follow Up As of December 31, 2024, all resolutions have been implemented and followed up.
RUPS Luar Biasa II Perubahan Direksi Perusahaan
Extraordinary GMS II on the Changes in the Company’s Board of Directors
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Tanggal Pelaksanaan 12 Agustus 2024
Date of Meeting August 12, 2024
Surat Keputusan Keputusan Menteri Keuangan selaku Pemegang Saham No. 326 Tahun 2024
Decree Decree of the Minister of Finance as Shareholder No. 326 of 2024
Pemberhentian dan Pengangkatan Anggota Direksi Perusahaan Perseroan (Persero) PT Sarana Multi
Agenda RUPS Infrastruktur
GMS Agenda Dismissal and Appointment of Members of the Board of Directors of PT Sarana Multi Infrastruktur
(Persero)
414
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RUPS Luar Biasa II Perubahan Direksi Perusahaan
Extraordinary GMS II on the Changes in the Company’s Board of Directors
Tanggal Pelaksanaan 12 Agustus 2024
Date of Meeting August 12, 2024
1. Memberhentikan dengan hormat anggota Direksi Perusahaan Perseroan (Persero) PT Sarana
Multi Infrastruktur, sebagai berikut:
a. Sdr. Edwin Syahruzad sebagai Direktur Utama yang diangkat berdasarkan Keputusan Menteri
Keuangan Nomor 651/KMK.06/2019 tentang Pemberhentian dan Pengangkatan Anggota
Direksi Perusahaan Perseroan (Persero) PT Sarana Multi Infrastruktur; dan
b. Sdr. Darwin Trisna Djajawinata sebagai Anggota Direksi yang diangkat berdasarkan
Keputusan Menteri Keuangan Nomor 651/KMK.06/2019 tentang Pemberhentian dan
Pengangkatan Anggota Direksi Perusahaan Perseroan (Persero) PT Sarana Multi Infrastruktur,
dengan ucapan terima kasih atas segala sumbangan tenaga dan pikirannya selama
memangku jabatan tersebut.
2. Mengangkat anggota Direksi Perusahaan Perseroan (Persero) PT Sarana Multi Infrastruktur,
sebagai berikut:
a. Sdr. Reynaldi Hermansjah sebagai Direktur Utama; dan
b. Sdri. Aradita Priyanti sebagai anggota Direksi.
3. Menetapkan masa jabatan anggota Direksi sebagaimana dimaksud dalam Diktum KEDUA untuk
jangka waktu 5 (lima) tahun, terhitung sejak Keputusan Menteri ini ditetapkan.
4. Memberi kuasa dengan hak substitusi kepada Direksi Perusahaan Perseroan (Persero) PT Sarana
Multi Infrastruktur untuk menyatakan segala sesuatu yang diputuskan dalam Keputusan Menteri
ini dalam bentuk otentik di hadapan Notaris atau pejabat yang berwenang.
Keputusan RUPS 5. Keputusan Menteri ini mulai berlaku pada tanggal 14 Agustus 2024.
GMS Resolutions 1. Honorably dismissed the following members of the Board of Directors of PT Sarana Multi
Infrastruktur (Persero):
a. Edwin Syahruzad as President Director, appointed based on Decree of the Minister of Finance
No. 651/KMK.06/2019 concerning the Dismissal and Appointment of Members of the Board of
Directors of PT Sarana Multi Infrastruktur (Persero).
b. Darwin Trisna Djajawinata as a Member of the Board of Directors, appointed based on Decree
of the Minister of Finance No. 651/KMK.06/2019 concerning the Dismissal and Appointment of
Members of the Board of Directors of PT Sarana Multi Infrastruktur (Persero). The Company
expressed gratitude for their contributions and dedication during their tenure.
2. Appointed the following members of the Board of Directors of PT Sarana Multi Infrastruktur
(Persero):
a. Reynaldi Hermansjah as President Director
b. Aradita Priyanti as a Member of the Board of Directors.
3. Determined the term of office for the newly appointed members of the Board of Directors to
be five (5) years, as referred to in the SECOND dictum, effective from the date of this Ministerial
Decree.
4. Granted authority with substitution rights to the Board of Directors of PT Sarana Multi Infrastruktur
(Persero) to formalize all decisions in this Ministerial Decree in an authentic form before a Notary
or authorized official.
5. This Ministerial Decree shall take effect as of August 14, 2024.
Realisasi/Tindak Lanjut Sampai dengan akhir 31 Desember 2024, seluruh keputusan telah direalisasikan dan ditindaklanjuti.
Realization/Follow Up As of December 31, 2024, all resolutions have been implemented and followed up.
RUPS Luar Biasa III Penunjukkan Kantor Akuntan Publik
Extraordinary GMS III on the Appointment of Public Accounting Firm
Tanggal Pelaksanaan 11 Oktober 2024
Date of Meeting October 11, 2024
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Keputusan Sirkuler Rapat Umum Pemegang Saham Perusahaan Perseroan (Persero) di PT Sarana
Surat Keputusan Multi Infrastruktur No. KMK-272/KM.6/2024
Decree Circular Resolution of the General Meeting of Shareholders of the Limited Liability Company (Persero)
PT Sarana Multi Infrastruktur No. KMK-272/KM.6/2024
Penetapan Kantor Akuntan Publik untuk Melakukan Pemeriksaan Laporan Keuangan dan Kegiatan
Agenda RUPS Usaha Tahun 2024
GMS Agenda Appointment of the Public Accounting Firm to Conduct the Audit of the Financial Statements and
Business Activities for the Year 2024.
415
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05 Tata Kelola Perusahaan
Good Corporate Governance
RUPS Luar Biasa III Penunjukkan Kantor Akuntan Publik
Extraordinary GMS III on the Appointment of Public Accounting Firm
Tanggal Pelaksanaan 11 Oktober 2024
Date of Meeting October 11, 2024
1. Menetapkan Kantor Akuntan Publik (KAP) Gani Sigiro & Handayani (Grant Thornton) sebagai
Akuntan Publik yang akan melakukan pemeriksaan Laporan Keuangan dan Kegiatan Usaha
Tahun 2024.
2. Menyetujui Imbal Jasa Audit sebesar Rp1.839.672.885,00 (satu miliar delapan ratus tiga puluh
sembilan juta enam ratus tujuh puluh dua ribu delapan ratus delapan puluh lima rupiah)
termasuk Pajak Pertambahan Nilai (PPN) dan Out of Pocket Expenses (OPE).
3. Menyetujui untuk memberikan kekuasaan dan kewenangan kepada setiap anggota Direksi
Perseroan (untuk dan atas nama Perseroan) dengan hak substitusi untuk melakukan setiap dan
semua tindakan, dan menandatangani dan menyampaikan setiap dan semua dokumen yang
diperlukan untuk melaksanakan setiap dan semua Keputusan ini, termasuk menghadap notaris,
dan untuk menyampaikan serta mendaftarkan setiap dan semua dokumen kepada pihak yang
berwenang, dan secara umum untuk melakukan setiap dan semua hal yang diperlukan untuk
proses dan penyelesaian penetapan Kantor Akuntan Publik.
4. Pelaksanaan pemberian kuasa ini agar dilaksanakan sesuai dengan ketentuan perundang-
undangan yang berlaku.
5. Direksi Perseroan wajib melaporkan hasil pelaksanaan Keputusan ini kepada Menteri Keuangan
Keputusan RUPS
selaku Pemegang Saham Perseroan.
GMS Resolutions
1. Appointed the Public Accounting Firm (KAP) Gani Sigiro & Handayani (Grant Thornton) as the
Public Accountant responsible for auditing the Financial Statements and Business Activities for
the Year 2024.
2. Approved the audit service fee in the amount ofIDR 1,839,672,885.00 (one billion eight hundred
thirty-nine million six hundred seventy-two thousand eight hundred eighty-five rupiah), including
Value Added Tax (VAT) and Out of Pocket Expenses (OPE).
3. Approved the delegation of authority and power to any member of the Company's Board of
Directors, acting on behalf of the Company, with the right of substitution, to undertake any and
all actions, sign and submit any and all necessary documents to implement these resolutions,
including appearing before a notary, submitting, and registering documents with the relevant
authorities, and in general, carrying out all necessary measures for the process and completion
of the appointment of the Public Accounting Firm.
4. The execution of this delegated authority must be carried out in accordance with the applicable
laws and regulations.
5. The Company’s Board of Directors is required to report the implementation of this resolution to
the Minister of Finance as the Company’s Shareholder.
Realisasi/Tindak Lanjut Sampai dengan akhir 31 Desember 2024, seluruh keputusan telah direalisasikan dan ditindaklanjuti.
Realization/Follow Up As of December 31, 2024, all resolutions have been implemented and followed up.
RUPS Luar Biasa IV Perubahan Rencana Jangka Panjang Perusahaan (RJPP)
Extraordinary GMS IV on the Amendments to the Company’s Long-Term Plan
Tanggal Pelaksanaan 16 Desember 2024
Date of Meeting December 16, 2024
Keputusan Sirkuler Rapat Umum Pemegang Saham Perusahaan Perseroan (Persero) di PT Sarana
Surat Keputusan Multi Infrastruktur No. 436 Tahun 2024
Decree Circular Resolution of the General Meeting of Shareholders of the Limited Liability Company PT Sarana
Multi Infrastruktur No. 436 of 2024
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Perubahan atas Rencana Jangka Panjang Tahun 2024-2028 Perusahaan Perseroan (Persero)
Agenda RUPS
PT Sarana Multi Infrastruktur
GMS Agenda
Amendment to the 2024-2028 Long-Term Plan of PT Sarana Multi Infrastruktur (Persero)
416
Page 147
RUPS Luar Biasa IV Perubahan Rencana Jangka Panjang Perusahaan (RJPP)
Extraordinary GMS IV on the Amendments to the Company’s Long-Term Plan
Tanggal Pelaksanaan 16 Desember 2024
Date of Meeting December 16, 2024
1. Menyetujui RJPP-P Tahun 2024-2028 untuk mendukung transformasi Perseroan menjadi
Development Financial Institution (DFI), sesuai dengan usulan Direktur Utama sebagaimana
tertuang dalam surat nomor S-1023/SMI/DU/1024 tanggal 10 Oktober 2024.
2. Menyetujui perubahan komposisi penyaluran pembiayaan pada lini bisnis pembiayaan
korporasi, pembiayaan publik, pembiayaan syariah, dan investasi ekuitas dengan lebih
memprioritaskan/meningkatkan penyaluran pembiayaan publik.
3. Menyetujui komposisi penyaluran pembiayaan publik kepada pemerintah daerah klaster 1 (satu)
dan 2 (dua) sebesar 60% (enam puluh persen), dan pemerintah daerah klaster 3 (tiga) dan 4
(empat) sebesar 40% (empat puluh persen).
4. Menyetujui perubahan proyeksi laporan keuangan tahun 2024-2028 sebagaimana tercantum
dalam Buku Perubahan RJPP Tahun 2024-2028 yang disampaikan Perseroan kepada pemegang
saham dan merupakan bagian yang tidak terpisahkan dari Keputusan Sirkuler Rapat Umum
Pemegang Saham ini.
5. Menyetujui penyesuaian struktur organisasi dengan memperhatikan efisiensi dan efektivitas
pencapaian program strategis Perseroan, sesuai kebutuhan Perseroan.
6. Persetujuan Rapat Umum Pemegang Saham ini diberikan dengan catatan bahwa dalam
pelaksanaan Perubahan RJPP tahun 2024-2028, Direksi dan Dewan Komisaris diminta untuk
memperhatikan hal-hal sebagai berikut:
a. Perubahan RJPP yang disetujui ini merupakan pedoman bagi Direksi dalam melaksanakan
program kerja dan penentuan target kinerja Perseroan. Selanjutnya Direksi berkewajiban
untuk menyampaikan laporan berkala secara tepat waktu kepada pemegang saham atas
pelaksanaan Perubahan RJPP sebagaimana diatur dalam ketentuan yang berlaku.
b. Pelaksanaan strategi dan kegiatan Perseroan perlu dilakukan secara terencana, terukur,
dan antisipatif (forward looking) sehingga target kerja dapat terealisasi sesuai yang
direncanakan dalam Perubahan RJPP tahun 2024-2028, dengan tetap menjaga kemampuan
menghasilkan laba agar Perseroan going concern.
c. Pelaksanaan strategi dan kegiatan Perseroan dalam Perubahan RJPP 2024-2028 agar
diselaraskan dengan program prioritas pemerintah.
d. Dewan Komisaris agar memonitor, mengawasi, dan mengevaluasi pelaksanaan Perubahan
RJPP Tahun 2024-2028. Hasil evaluasi tersebut agar disampaikan secara berkala kepada
pemegang saham sesuai dengan ketentuan dan peraturan yang berlaku.
7. Dukungan Pemegang Saham akan diupayakan secara optimal untuk mendukung proses
transformasi Perseroan menjadi Development Financial Institution (DFI).
8. Memberi kuasa dengan hak substitusi kepada Direksi Perseroan untuk menyatakan segala
Keputusan RUPS sesuatu yang diputuskan dalam keputusan ini dalam bentuk otentik di hadapan Notaris atau
GMS Resolutions pejabat yang berwenang.
1. Approved the Company’s 2024-2028 Revised Long-Term Plan (RJPP-P) to support the Company's
transformation into a Development Financial Institution (DFI), in accordance with the proposal
from the President Director, as stated in letter No. S-1023/SMI/DU/1024 dated October 10, 2024.
2. Approved the changes in the composition of financing allocation across the corporate financing,
public financing, sharia financing, and equity investment business lines, with a priority to increase
public financing distribution.
3. Approved the financing allocation composition for public financing as follows: 60% (sixty percent)
to local governments in Cluster 1 and 2, and 40% (forty percent) to local governments in Cluster 3
and 4.
4. Approved the revised financial projections for 2024-2028, as outlined in the Company’s 2024-
2028 Revised Long-Term Plan Book, which was submitted by the Company to shareholders and is
an integral part of this Circular Resolution of the General Meeting of Shareholders.
5. Approved adjustments to the organizational structure, considering efficiency and effectiveness in
achieving the Company’s strategic programs, as needed.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
6. This approval is granted with the following conditions for the Board of Directors and the Board of
Commissioners in implementing the Company’s 2024-2028 Revised Long-Term Plan:
a. The approved RJPP-P serves as a guideline for the Board of Directors in implementing the
work programs and determining the Company's performance targets. The Board of Directors
is obliged to submit periodic reports to shareholders regarding the implementation of the
RJPP-P in accordance with applicable regulations;
b. The implementation of the Company's strategies and activities must be planned,
measurable, and forward-looking to ensure that work targets are realized as planned in the
Company’s 2024-2028 Revised Long-Term Plan, while maintaining profitability to ensure the
Company’s sustainability;
c. The implementation of the Company's strategies and activities in the Company’s 2024-2028
Revised Long-Term Plan must be aligned with government priority programs;
d. The Board of Commissioners must monitor, supervise, and evaluate the implementation of
the Company’s 2024-2028 Revised Long-Term Plan. The evaluation results must be submitted
periodically to shareholders in accordance with applicable regulations and laws.
7. Shareholder support will be optimized to facilitate the Company's transformation into a
Development Financial Institution (DFI).
8. Granted authority, with the right of substitution, to the Board of Directors to formalize all
resolutions stated herein into an authentic deed before a Notary or other authorized official.
Realisasi/Tindak Lanjut Sampai dengan akhir 31 Desember 2024, seluruh keputusan telah direalisasikan dan ditindaklanjuti.
Realization/Follow Up As of December 31, 2024, all resolutions have been implemented and followed up.
417
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05 Tata Kelola Perusahaan
Good Corporate Governance
DEWAN KOMISARIS
BOARD OF COMMISSIONERS
Dalam struktur tata kelola Perseroan, Dewan Komisaris Within the Company’s governance structure, the Board
memegang peran strategis sebagai organ yang of Commissioners holds a strategic role as the organ
menjalankan fungsi pengawasan dan pemberian nasihat responsible for collectively carrying out supervisory
secara kolektif terhadap pengelolaan Perseroan, sesuai and advisory functions over the management of the
dengan Anggaran Dasar serta mandat dari Menteri Company, in accordance with the Articles of Association
Keuangan selaku pemegang kewenangan RUPS. Peran and the mandate of the Minister of Finance as the holder
tersebut dilaksanakan secara aktif dan berkelanjutan of authority of the General Meeting of Shareholders. These
melalui rapat berkala, evaluasi kebijakan strategis Direksi, roles are carried out actively and continuously through
serta pengawasan atas penerapan manajemen risiko regular meetings, evaluation of the Board of Directors’
dan efektivitas sistem pengendalian internal guna strategic policies, and oversight of the implementation of
memastikan pengelolaan Perseroan yang prudent dan risk management and the effectiveness of internal control
berkesinambungan. systems to ensure prudent and sustainable management
of the Company.
Dewan Komisaris memiliki hak sekaligus kewajiban The Board of Commissioners has both the right and
untuk menyampaikan arahan, pertimbangan, maupun the obligation to provide direction, considerations, and
rekomendasi kepada Direksi guna memastikan bahwa recommendations to the Board of Directors to ensure
setiap langkah pengelolaan usaha selaras dengan that all business management actions are aligned with
rencana bisnis yang telah ditetapkan, termasuk arahan the established business plan, including directives and/
dan/atau penugasan dari Pemegang Saham. Selain itu, or assignments from the Shareholder. In addition, the
Dewan Komisaris bertanggung jawab untuk memantau Board of Commissioners is responsible for overseeing
kepatuhan Perseroan terhadap prinsip-prinsip tata kelola the Company’s compliance with the principles of Good
perusahaan yang baik dan memastikan seluruh aktivitas Corporate Governance and ensuring that all business
usaha berjalan sesuai peraturan perundang-undangan activities are conducted in accordance with applicable
yang berlaku, sehingga keberlangsungan dan integritas laws and regulations, thereby safeguarding the
operasional perusahaan tetap terjaga. sustainability and integrity of the Company’s operations.
Proses pembentukan Dewan Komisaris beserta organ The establishment of the Board of Commissioners and
pendukungnya dilaksanakan dengan berlandaskan its supporting organs is carried out in compliance with
pada ketentuan regulasi yang berlaku. Adapun seluruh prevailing regulatory provisions. All mechanisms relating
mekanisme penunjukan, struktur, serta fungsi pendukung to the appointment, structure, and supporting functions
Dewan Komisaris juga dirumuskan dengan mengacu of the Board of Commissioners are formulated with
pada berbagai peraturan perundang-undangan dan reference to applicable laws and regulations as well as
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
pedoman tata kelola yang relevan, antara lain: relevant governance guidelines, including but not limited
to the following:
1. Undang-Undang No. 40 Tahun 2007 tentang Perseroan 1. Law No. 40 of 2007 concerning Limited Liability
Terbatas; Companies;
2. Peraturan Menteri Keuangan No. 88/PMK.06/2015 2. Regulation of the Minister of Finance No. 88/
tentang Penerapan Tata Kelola Perusahaan yang PMK.06/2015 concerning the Implementation of Good
Baik pada Perusahaan Perseroan (Persero) di bawah Corporate Governance in Limited Liability Companies
Pembinaan dan Pengawasan Menteri Keuangan; (Persero) under the Guidance and Supervision of the
Minister of Finance;
3. Peraturan Menteri Keuangan No. 106/PMK.06/2017 3. Regulation of the Minister of Finance No. 106/
tentang Pengelolaan Kinerja Direksi dan Dewan PMK.06/2017 Performance Management of the Board
Komisaris pada Perusahaan Perseroan (Persero) of Directors and the Board of Commissioners of Limited
di bawah Pembinaan dan Pengawasan Menteri Liability Companies (Persero) under the Guidance
Keuangan; and Supervision of the Minister of Finance;
4. Peraturan Menteri Keuangan No. 197/PMK.06/2019 4. Regulation of the Minister of Finance No. 197/
tentang Tata Cara Pengangkatan dan Pemberhentian PMK.06/2019 concerning Procedures for the
Anggota Dewan Komisaris Perusahaan Perseroan Appointment and Dismissal of Members of the Board
(Persero) di bawah Pembinaan dan Pengawasan of Commissioners of Limited Liability Companies
Menteri Keuangan; (Persero) under the Guidance and Supervision of the
418 Minister of Finance;
Page 149
5. Peraturan Otoritas Jasa Keuangan No. 33/POJK.04/2014 5. Regulation of Financial Services Authority No. 33/
tentang Direksi dan Dewan Komisaris Emiten atau POJK.04/2014 concerning Board of Directors and Board
Perusahaan Publik; of Commissioners of Issuers or Public Companies;
6. Keputusan Menteri Keuangan No. 505/KMK.06/2020 6. Decree of the Minister of Finance No. 505/KMK.06/2020
tentang Pedoman Penilaian dan Evaluasi atas concerning Guidelines for Assessment and Evaluation
Penerapan Tata Kelola Perusahaan yang Baik pada of the Implementation of Good Corporate Governance
Perusahaan Perseroan (Persero) di bawah Pembinaan in Limited Liability Companies under the Guidance
dan Pengawasan Menteri Keuangan; and Supervision of the Minister of Finance;
7. KS-18/KN/2024 tentang Kebijakan mengenai Masa 7. S-18/KN/2024 concerning Policy regarding the
Jabatan Organ Pendukung Dewan Komisaris; dan Term of Office of Supporting Organs of the Board of
Commissioners; and
8. Anggaran Dasar Perseroan. 8. The Company’s Articles of Association.
Kriteria Anggota Dewan Komisaris Criteria for Members of the Board of
Commissioners
Penetapan kriteria bagi anggota Dewan Komisaris The determination of criteria for members of the
Perseroan dilakukan dengan mengacu pada ketentuan Company’s Board of Commissioners is carried out in
yang ditetapkan dalam Peraturan Menteri Keuangan accordance with the provisions set forth in the Regulation
No. 197/PMK.06/2019 tentang Tata Cara Pengangkatan of the Minister of Finance No. 197/PMK.06/2019 concerning
dan Pemberhentian Anggota Dewan Komisaris pada Procedures for the Appointment and Dismissal of
Perusahaan Perseroan (Persero) di bawah Pembinaan Members of the Board of Commissioners of State-Owned
dan Pengawasan Menteri Keuangan. Standar tersebut Enterprises (SOEs) under the Supervision of the Minister of
menjadi dasar untuk memastikan bahwa setiap anggota Finance. These standards form the basis for ensuring that
Dewan Komisaris memiliki kompetensi, integritas, dan each member of the Board of Commissioners possesses
rekam jejak yang sesuai dengan kebutuhan pengawasan the competence, integrity, and track record aligned
perusahaan. Adapun kriteria anggota Dewan Komisaris with the Company’s supervisory needs. The criteria for
Perseroan mencakup: members of the Company’s Board of Commissioners
include:
1. Syarat Umum, yaitu orang perseorangan yang cakap 1. General Requirements, an individual capable of taking
melakukan perbuatan hukum, kecuali dalam waktu 5 legal action, except if within 5 (five) years before
(lima) tahun sebelum pengangkatan pernah: appointment:
a. Dinyatakan pailit; a. Has been declared bankrupt;
b. Menjadi anggota Direksi atau Dewan Komisaris/ b. Has been a member of Board of Directors or
Dewan Pengawas yang dinyatakan bersalah Board of Commissioners/Supervisory Board who
menyebabkan suatu BUMN dan/atau perusahaan was declared guilty for causing a State-Owned
dinyatakan pailit; atau Enterprise and/or a Company to be bankrupt; or
c. Dihukum karena melakukan tindak pidana yang c. has been punished for criminal action that caused
merugikan keuangan negara dan/atau yang harm to the state assets and/or related to the
berkaitan dengan sektor keuangan. financial sector.
2. Syarat khusus, meliputi: 2. Specific Requirements, including:
a. Sehat jasmani dan rohani; a. Physically and mentally healthy; PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
b. Memiliki integritas dan moral baik; b. Has good integrity and morale;
c. Memiliki kemauan yang kuat dan dedikasi yang c. Has strong will and dedication;
tinggi;
d. Memahami masalah-masalah manajemen d. Understands the Company’s management issues
Persero yang berkaitan dengan salah satu fungsi related to management function;
manajemen;
e. Memiliki pengetahuan yang memadai di bidang e. Possesses adequate knowledge in the Company’s
usaha Persero; dan business area; and
f. Dapat menyediakan waktu yang cukup untuk f. Can make adequate time to perform their duties.
menjalankan tugasnya.
3. Syarat lain, yaitu: 3. Other Requirements, namely:
a. Bukan anggota partai politik, pengurus partai a. Not a member of a political party, executive of a
politik, anggota legislatif dan/atau tidak sedang political party, legislative member, and/or in the
mencalonkan diri sebagai anggota legislatif; running for the legislature;
b. Bukan kepala/wakil kepala daerah dan/atau tidak b. Not a regional head/deputy regional head and/or
sedang mencalonkan diri sebagai calon kepala in the running for regional head/deputy regional
daerah/wakil kepala daerah; head position;
419
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05 Tata Kelola Perusahaan
Good Corporate Governance
c. Telah tidak menjabat sebagai anggota Direksi c. has not served as a member of the Board of
Persero yang bersangkutan, paling kurang 1 (satu) Directors in the relevant Company for at least 1
tahun; (one) year;
d. Tidak sedang menduduki jabatan yang d. Is not holding a concurrent position that is not
berdasarkan peraturan perundang-undangan allowed by the laws and regulations (except on
dilarang untuk dirangkap dengan jabatan anggota the condition that they sign a statement letter to
Dewan Komisaris (kecuali menandatangani surat resign from the position if appointed as a member
pernyataan bersedia mengundurkan diri dari of the Board of Commissioners);
jabatan tersebut jika terpilih sebagai anggota
Dewan Komisaris);
e. Tidak menjabat sebagai anggota Dewan Komisaris e. Has not served as a member of Board of
pada Persero yang bersangkutan selama 2 (dua) Commissioners in the Company for 2 (two)
masa jabatan berturut-turut; dan consecutive terms of office; and
f. Memenuhi persyaratan yang ditetapkan oleh f. Has fulfilled the requirements of the technical
instansi teknis berdasarkan peraturan perundang- agency according to the laws and regulations.
undangan.
Komposisi Dewan Komisaris Composition of the Board of Commissioners
Pada akhir tahun buku 2025, struktur Dewan Komisaris As of the end of 2025, the Company’s Board of
Perseroan berjumlah 5 (lima) orang, dengan proses Commissioners consisted of five (5) members, with the
pengangkatan dan pemberhentian yang sepenuhnya authority for appointment and dismissal fully vested in the
berada dalam kewenangan Menteri Keuangan Minister of Finance as the Shareholder through the GMS
sebagai pemegang saham melalui mekanisme RUPS. mechanism. All provisions concerning the requirements,
Seluruh ketentuan mengenai persyaratan, tahapan stages of appointment, and dismissal of members of the
pengangkatan, serta pemberhentian anggota Dewan Board of Commissioners are stipulated in the Regulation
Komisaris telah ditetapkan dalam Peraturan Menteri of the Minister of Finance No. 197.KMK.06/2019 concerning
Keuangan No. 197.KMK.06/2019 tentang Tata Cara the Procedures for the Appointment and Dismissal of
Pengangkatan dan Pemberhentian Anggota Dewan Members of the Board of Commissioners of Limited
Komisaris Perusahaan dan Perseroan (Persero) di bawah Liability Companies (Persero) under the Supervision and
Pembinaan dan Pengawasan Menteri Keuangan. Guidance of the Minister of Finance.
Lebih jauh, Anggaran Dasar Perseroan menetapkan Furthermore, the Company's Articles of Association
bahwa anggota Dewan Komisaris salah satu di antaranya stipulate that one member of the Board of Commissioners
diangkat sebagai Komisaris Utama dan 3 (tiga) orang is appointed as the President Commissioner, and 3 (three)
diangkat sebagai Komisaris Independen guna memenuhi members are appointed as Independent Commissioners
ketentuan bahwa jumlah komisaris independen adalah to meet the requirement that at least 30% of the total
paling sedikit sebanyak 30% dari jumlah anggota Dewan members of the Board of Commissioners must be
Komisaris. Masa jabatan anggota Dewan Komisaris independent. The term of office for members of the
adalah selama 5 (lima) tahun atau dapat ditetapkan Board of Commissioners is 5 (five) years or as otherwise
lain oleh RUPS dan dapat diangkat kembali untuk 1 (satu) determined by the GMS and may be reappointed for one
kali masa jabatan dengan tidak mengurangi hak dari (1) additional term, without prejudice to the right of the
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
RUPS untuk memberhentikan sewaktu-waktu. GMS to dismiss them at any time.
Di tahun 2025, telah terjadi perubahan susunan dan In 2025, there have been changes in the composition and
komposisi Dewan Komisaris yang dijabarkan sebagai structure of the Company's Board of Commissioners as
berikut: outlined below:
Periode 1 Januari 2025 – 7 Mei 2025
Period of January 1, 2025 – May 7, 2025
Nama Jabatan Periode Jabatan Dasar Pengangkatan
Name Position Term of Office Basis of Appointment
Keputusan Menteri Keuangan No. 296 Tahun
Komisaris Utama 5 Juli 2024 – 7 Mei 2025 2024 tanggal 17 Juli 2024.
Suminto
President Commissioner July 5, 2024 – May 7, 2025 Decree of the Minister of Finance No. 296 of
2024 dated July 17, 2024.
Keputusan Menteri Keuangan No. 296 Tahun
Komisaris 5 Juli 2024 – 7 Mei 2025 2024 tanggal 17 Juli 2024.
Suryo Utomo
Commissioner July 5, 2024 – May 7, 2025 Decree of the Minister of Finance No. 296 of
2024 dated July 17, 2024.
420
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Periode 1 Januari 2025 – 7 Mei 2025
Period of January 1, 2025 – May 7, 2025
Nama Jabatan Periode Jabatan Dasar Pengangkatan
Name Position Term of Office Basis of Appointment
Keputusan Menteri Keuangan No. 296 Tahun
Ancella Anitawati Komisaris Independen 5 Juli 2024 – 5 Juli 2029 2024 tanggal 17 Juli 2024.
Hermawan Independent Commissioner July 5, 2024 – July 5, 2029 Decree of the Minister of Finance No. 296 of
2024 dated July 17, 2024.
Keputusan Menteri Keuangan No. 296 Tahun
Komisaris Independen 5 Juli 2024 – 5 Juli 2029 2024 tanggal 17 Juli 2024.
Dikdik Yustandi
Independent Commissioner July 5, 2024 – July 5, 2029 Decree of the Minister of Finance No. 296 of
2024 dated July 17, 2024.
Keputusan Menteri Keuangan No. 296 Tahun
Komisaris Independen 5 Juli 2024 – 5 Juli 2029 2024 tanggal 17 Juli 2024.
Arief Wibisono Lubis
Independent Commissioner July 5, 2024 – July 5, 2029 Decree of the Minister of Finance No. 296 of
2024 dated July 17, 2024.
Periode 7 Mei 2025 – 31 Desember 2025
Period of May 7, 2025 – December 31, 2025
Nama Jabatan Periode Jabatan Dasar Pengangkatan
Name Position Term of Office Basis of Appointment
Akta Keputusan RUPS tentang Perubahan Dewan Komisaris dan
Dewan Pengawas Syariah sebagaimana termaktub dalam Akta
Nomor 35 tanggal 22 Mei 2025 yang dibuat oleh dan dihadapan
Ashoya Ratam, SH.,M.Kn., Notaris di Jakarta Selatan, yang telah
mendapatkan Bukti Penerimaan Laporan Perubahan Data
Perseroan PT Sarana Multi Infrastruktur (Persero) sebagaimana
termuat dalam Berita Penerimaan Kementerian Hukum Republik
7 Mei 2025 – 5 Juli
Komisaris Utama Indonesia Nomor AHU-AH.01.09-0265059 tanggal 26 Mei 2025.
2029
Andin Hadiyanto President Deed of the Resolution of the General Meeting of Shareholders
May 7, 2025 – July
Commissioner concerning Changes in the Board of Commissioners and the
5, 2029
Sharia Supervisory Board as stipulated in Deed No. 35 dated
May 22, 2025, drawn up by and before Ashoya Ratam, S.H.,
M.Kn., Notary in South Jakarta, which has obtained the Receipt
of Notification of Changes to Company Data of PT Sarana Multi
Infrastruktur (Persero) as stated in the Acknowledgement Letter
of the Ministry of Law of the Republic of Indonesia No. AHU-
AH.01.09-0265059 dated May 26, 2025.
Akta Keputusan RUPS tentang Perubahan Dewan Komisaris dan
Dewan Pengawas Syariah sebagaimana termaktub dalam Akta
Nomor 35 tanggal 22 Mei 2025 yang dibuat oleh dan dihadapan
Ashoya Ratam, SH.,M.Kn., Notaris di Jakarta Selatan, yang telah
mendapatkan Bukti Penerimaan Laporan Perubahan Data
Perseroan PT Sarana Multi Infrastruktur (Persero) sebagaimana
termuat dalam Berita Penerimaan Kementerian Hukum Republik
7 Mei 2025 – 5 Juli
Indonesia Nomor AHU-AH.01.09-0265059 tanggal 26 Mei 2025.
Komisaris 2029
Askolani Deed of the Resolution of the General Meeting of Shareholders
Commissioner May 7, 2025 – July
concerning Changes in the Board of Commissioners and the
5, 2029
Sharia Supervisory Board as stipulated in Deed No. 35 dated
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
May 22, 2025, drawn up by and before Ashoya Ratam, S.H.,
M.Kn., Notary in South Jakarta, which has obtained the Receipt
of Notification of Changes to Company Data of PT Sarana Multi
Infrastruktur (Persero) as stated in the Acknowledgement Letter
of the Ministry of Law of the Republic of Indonesia No. AHU-
AH.01.09-0265059 dated May 26, 2025.
5 Juli 2024 – 5 Juli Keputusan Menteri Keuangan No. 296 Tahun 2024 tanggal 17 Juli
Komisaris Independen
Ancella Anitawati 2029 2024.
Independent
Hermawan July 5, 2024 – July 5, Decree of the Minister of Finance No. 296 of 2024 dated July 17,
Commissioner
2029 2024.
5 Juli 2024 – 5 Juli Keputusan Menteri Keuangan No. 296 Tahun 2024 tanggal 17 Juli
Komisaris Independen
2029 2024.
Dikdik Yustandi Independent
July 5, 2024 – July 5, Decree of the Minister of Finance No. 296 of 2024 dated July 17,
Commissioner
2029 2024.
5 Juli 2024 – 5 Juli Keputusan Menteri Keuangan No. 296 Tahun 2024 tanggal 17 Juli
Komisaris Independen
Arief Wibisono 2029 2024.
Independent
Lubis July 5, 2024 – July 5, Decree of the Minister of Finance No. 296 of 2024 dated July 17,
Commissioner
2029 2024.
421
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05 Tata Kelola Perusahaan
Good Corporate Governance
Informasi lengkap mengenai profil setiap anggota Dewan Complete information regarding the profile of each
Komisaris disajikan pada Bab Profil Perusahaan dalam member of the Board of Commissioners is presented in
Laporan Tahunan ini. the Company Profile chapter of this Annual Report.
ASPEK INDEPENDENSI INDEPENDENCE ASPECT OF THE
DEWAN KOMISARIS BOARD OF COMMISSIONERS
Ancella
Andin Dikdik Arief Wibisono
Anitawati
Hadiyanto Yustandi Lubis
Askolani Hermawan
Aspek Independensi (Komisaris (Komisaris (Komisaris
(Komisaris) (Komisaris
Independence Aspect Utama) Independen) Independen)
Commissioner Independen)
President Independent Independent
Independent
Commissioner Commissioner Commissioner
Commissioner
Terdapat institusi di mana
anggota Dewan Komisaris
tersebut berasal memberikan jasa
pada Perseroan.
There are instances where X X X X X
members of the Board of
Commissioners originate from
institutions that provide services to
the Company.
Memangku jabatan rangkap
sebagai pengurus partai politik
dan/atau calon/anggota legislatif
dan/atau calon kepala daerah/
wakil kepala daerah dan jabatan
lain sesuai dengan ketentuan
peraturan perundang-undangan
yang dapat menimbulkan
benturan kepentingan.
Holding concurrent positions X X X X X
as an official of a political party
and/or as a candidate/member
of a legislative body and/or as
a candidate for regional head/
deputy regional head, or any
other position that, in accordance
with the applicable laws and
regulations, may create a conflict
of interest.
Anggota Dewan Komisaris yang
berasal dari luar Perseroan
mempunyai hubungan keluarga
sedarah dan semenda sampai
derajat ketiga baik menurut
garis lurus maupun garis ke
samping dengan Anggota Dewan
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Komisaris, dan Anggota Direksi
Perseroan. X X X X X
Members of the Board of
Commissioners from outside the
Company have blood or marital
relations up to the third degree,
either in a direct line or lateral line,
with other members of the Board
of Commissioners and the Board
of Directors of the Company.
Mewakili kepentingan pihak lain
yang mempunyai hubungan
usaha dengan Perseroan antara
lain pemasok, pembeli, kreditur
maupun debitur Perseroan.
X X X X X
Representing the interests of
external parties with business
relations to the Company, such
as suppliers, buyers, creditors, or
debtors.
Keterangan: V: Ada X: Tidak Ada
Notes: V: Yes X:No
422
Page 153
PEDOMAN DAN TATA TERTIB WORK GUIDELINES AND
KERJA DEWAN KOMISARIS PROCEDURES OF THE BOARD OF
COMMISSIONERS (BOARD MANUAL)
Pedoman kerja bagi Dewan Komisaris telah dituangkan The work guidelines of the Board of Commissioners
dalam piagam kerja (charter) yang ditetapkan melalui are set forth in a charter stipulated through the Joint
Peraturan Bersama Dewan Komisaris, Dewan Pengawas Regulation of the Board of Commissioners, the Sharia
Syariah, dan Direksi PER-04/SMI/DK/1225, No. PER-012/SMI/ Supervisory Board, and the Board of Directors No. PER-04/
DPS/1225, serta No. PD-032/SMI/1225 tentang Pedoman SMI/DK/1225, No. PER-012/SMI/DPS/1225, and No. PD-032/
Kerja Dewan Komisaris, Dewan Pengawas Syariah, dan SMI/1225 concerning the Work Guidelines of the Board of
Direksi (Board Manual). Dokumen ini menjadi acuan yang Commissioners, the Sharia Supervisory Board, and the
bersifat mengikat bagi setiap anggota Dewan Komisaris Board of Directors (Board Manual). This document serves
dalam melaksanakan mandat, fungsi pengawasan, serta as a binding reference for each member of the Board of
tanggung jawab strategisnya. Commissioners in carrying out their mandate, supervisory
functions, and strategic responsibilities.
Board Manual tersebut disusun untuk memastikan The Board Manual is designed to ensure that the
keselarasan pelaksanaan tugas dengan prinsip tata implementation of duties remains aligned with the
kelola perusahaan yang baik, sekaligus memperkuat principles of Good Corporate Governance, while also
koordinasi antarorgan Perseroan dalam menjaga strengthening coordination among the Company’s
kualitas pengambilan keputusan. Seiring dengan organs to maintain the quality of decision-making. In
dinamika bisnis dan regulasi yang terus berkembang, response to evolving business dynamics and regulatory
pedoman ini ditinjau serta diperbarui secara berkala agar developments, the guidelines are reviewed and updated
tetap relevan, responsif, dan sesuai dengan ketentuan periodically to ensure their continued relevance,
peraturan perundang-undangan yang berlaku, sehingga responsiveness, and compliance with applicable laws
efektivitas pengawasan dapat terus terjaga dan and regulations, thereby preserving the effectiveness
mendukung keberlanjutan kinerja Perseroan. of supervision and supporting the sustainability of the
Company’s performance.
TUGAS, TANGGUNG JAWAB, DAN DUTIES, RESPONSIBILITIES, AND
WEWENANG DEWAN KOMISARIS AUTHORITIES OF THE BOARD
OF COMMISSIONERS
Tugas, tanggung jawab, serta wewenang setiap anggota The duties, responsibilities, and authorities of each
Dewan Komisaris telah diatur secara jelas dalam Board member of the Board of Commissioners are clearly
Manual, yang penyusunannya merujuk pada ketentuan stipulated in the Board Manual, which is prepared in
dan peraturan perundang-undangan yang berlaku, yaitu: reference to the prevailing laws and regulations, namely:
1. Peraturan Menteri Keuangan No. 88/PMK.06/2015 1. Regulation of the Minister of Finance No. 88/
tentang Penerapan Tata Kelola Perusahaan yang PMK.06/2015 concerning the Implementation of Good
Baik pada Perusahaan Perseroan (Persero) di bawah Corporate Governance in Limited Liability Companies
Pembinaan dan Pengawasan Menteri Keuangan; (Persero) under the Guidance and Supervision of the
Minister of Finance; PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
2. Keputusan Menteri Keuangan No. 505/KMK.06/2020 2. Decree of the Minister of Finance No. 505/KMK.06/2020
tentang Pedoman Penilaian dan Evaluasi atas concerning Guidelines for Assessment and Evaluation
Penerapan Tata Kelola Perusahaan yang Baik pada of the Implementation of Good Corporate Governance
Perusahaan Perseroan (Persero) di bawah Pembinaan in Limited Liability Companies under the Guidance
dan Pengawasan Menteri Keuangan; and Supervision of the Minister of Finance;
3. Peraturan Otoritas Jasa Keuangan Republik Indonesia 3. Regulation of the Financial Services Authority of the
Nomor 16 Tahun 2024 tentang Pengawasan PT Sarana Republic of Indonesia No. 16 of 2024 concerning the
Multi Infrastruktur (Persero); Supervision of PT Sarana Multi Infrastruktur (Persero);
4. Peraturan Otoritas Jasa Keuangan Republik Indonesia 4. Regulation of the Financial Services Authority of the
Nomor 42 Tahun 2024 tentang Penerapan Manajemen Republic of Indonesia No. 42 of 2024 concerning the
Risiko Bagi Lembaga Pembiayaan, Perusahaan Modal Implementation of Risk Management for Financing
Ventura, Lembaga Keuangan Mikro, Dan Lembaga Institutions, Venture Capital Companies, Microfinance
Jasa Keuangan Lainnya; dan Institutions, and Other Financial Services Institutions;
and
5. Anggaran Dasar. 5. Articles of Association.
423
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tugas dan Kewajiban Dewan Komisaris Duties and Obligations of the Board of
Commissioners
Sebagaimana diatur dalam Board Manual, tugas dan Based on the Company’s Board Manual, the duties and
kewajiban anggota Dewan Komisaris PT SMI mencakup responsibilities of the Company’s Board of Commissioners
antara lain: include:
1. Melakukan pengawasan terhadap kebijakan 1. Supervising the management policies and the overall
pengurusan, jalannya pengurusan pada umumnya, management of the Company, including its business
baik mengenai Perseroan maupun usaha Perseroan operations conducted by the Board of Directors, as
yang dilakukan oleh Direksi, serta memberikan nasihat well as providing advice to the Board of Directors.
kepada Direksi, termasuk pengawasan terhadap This includes oversight of the implementation of the
pelaksanaan Rencana Jangka Panjang Perusahaan, Company’s Long-Term Plan, Work Plan and Budget,
Rencana Kerja dan Anggaran Perusahaan, ketentuan the provisions of the Articles of Association, resolutions
Anggaran Dasar dan Keputusan RUPS, serta of the General Meeting of Shareholders (GMS), and
peraturan perundang-undangan yang berlaku untuk applicable laws and regulations, all in the interest of
kepentingan Perseroan dan sesuai dengan maksud the Company and in alignment with its objectives
dan tujuan Perseroan. and purposes.
2. Mengarahkan, memantau, dan mengevaluasi 2. Directing, monitoring, and evaluating the
pelaksanaan kebijakan dasar dan strategis. implementation of fundamental and strategic policies.
3. Memberikan arahan tentang hal-hal penting 3. Providing guidance on significant matters concerning
mengenai perubahan lingkungan bisnis yang changes in the business environment that are
diperkirakan akan berdampak pada Perseroan secara anticipated to impact the Company, in a timely and
tepat waktu dan efisien. efficient manner.
4. Melaporkan pelaksanaan tugas dan tanggung jawab 4. Reporting the performance of duties and
kepada RUPS secara triwulanan dan/atau sewaktu- responsibilities to the General Meeting of Shareholders
waktu apabila diminta oleh RUPS. (GMS) on a quarterly basis and/or at any time upon
request by the GMS.
5. Melaporkan kepada Menteri selaku RUPS setiap 5. Reporting to the Minister as the GMS on every
perkembangan pelaksanaan mandat yang diberikan implementation of the mandates entrusted to the
kepada Perseroan. Company.
6. Menyusun pedoman pengambilan keputusan, 6. Preparing the guidelines for decision-making,
kebijakan pengawasan, penilaian kinerja, pembagian oversight policies, performance assessment, and
tugas, wewenang, dan tanggung jawab. distribution of duties, authority, and responsibilities.
7. Menyusun rencana kerja dan anggaran tahunan 7. Preparing the Board of Commissioners’ work plan
Dewan Komisaris yang merupakan bagian yang and budget as an inseparable part of the Company’s
tak terpisahkan dari Rencana Kerja dan Anggaran Work Plan and Budget.
Perusahaan.
8. Memastikan terselenggaranya penerapan GCG 8. Ensuring the implementation of GCG in every business
dalam setiap kegiatan usaha Perseroan pada seluruh activity of the Company at every stage and level of
tingkatan dan jenjang organisasi. the organization.
9. Memastikan bahwa Direksi telah menindaklanjuti 9. Ensuring that the Board of Directors follows up on audit
temuan audit dan rekomendasi dari auditor internal, findings and recommendations from internal auditors,
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
auditor eksternal, hasil pengawasan Dewan Komisaris external auditors, results of Board of Commissioners
dan/atau hasil pemeriksaan tertentu oleh lembaga supervision, and/or results from certain audits by
pemeriksa lainnya. other auditing institutions.
10. Memastikan bahwa dalam Laporan Tahunan 10. Ensuring that the Company’s Annual Report contains
Perseroan telah memuat informasi mengenai information on identities, main jobs, and positions of
identitas, pekerjaan utamanya, jabatan anggota the members of the Board of Commissioners at other
Dewan Komisaris di perusahaan lain, termasuk rapat- companies, including meetings held during a single
rapat yang dilakukan dalam satu tahun buku (rapat fiscal year (internal meetings and joint meetings with
internal maupun rapat gabungan dengan Direksi), the Board of Directors), as well as honorarium, facilities,
serta honorarium, fasilitas, dan/atau tunjangan lain and/or other benefits received from the Company.
yang diterima dari Perseroan.
11. Melakukan evaluasi kebijakan strategis, serta 11. Conducting evaluations of strategic policies, as well
pengawasan terhadap manajemen risiko dan sistem as overseeing the Company’s risk management and
pengendalian internal perusahaan. internal control systems.
Sebagai bagian dari perannya dalam memastikan As part of its role in ensuring the effectiveness of risk
efektivitas tata kelola risiko, Dewan Komisaris memiliki governance, the Board of Commissioners holds the
kewenangan dan tanggung jawab yang ditegaskan authority and responsibility as stipulated in Regulation
dalam Peraturan Otoritas Jasa Keuangan Republik of the Financial Services Authority of the Republic of
424 Indonesia Nomor 42 Tahun 2024 tentang Penerapan Indonesia No. 42 of 2024 concerning the Implementation
Page 155
Manajemen Risiko bagi Lembaga Pembiayaan, of Risk Management for Financing Institutions, Venture
Perusahaan Modal Ventura, Lembaga Keuangan Mikro, Capital Companies, Microfinance Institutions, and Other
dan Lembaga Jasa Keuangan Lainnya. Ruang lingkup Financial Services Institutions. The scope of such authority
kewenangan serta tanggung jawab tersebut mencakup and responsibilities includes the following:
hal-hal sebagai berikut:
1. Menyetujui dan mengevaluasi Manajemen Risiko; 1. Approving and evaluating the implementation of Risk
Management;
2. Mengevaluasi pertanggungjawaban Direksi dan 2. Evaluating the accountability of the Board of Directors
Pengelola atas pelaksanaan kebijakan Manajemen and Management for the implementation of Risk
Risiko sebagaimana dimaksud dalam poin 1; dan Management policies as referred to in point 1; and
3. Mengevaluasi dan memutuskan permohonan Direksi 3. Evaluating and deciding on requests from the Board
yang berkaitan dengan transaksi dan limit Risiko yang of Directors relating to transactions and risk limits that
memerlukan persetujuan Dewan Komisaris. require the approval of the Board of Commissioners.
Tanggung Jawab Dewan Komisaris Responsibilities of the Board of
Commissioners
Baik secara kolegial ataupun individual, Dewan Komisaris The Board of Commissioners’ responsibilities, both
memiliki tanggung jawab yang mencakup: collegial and individual, include:
1. Dewan Komisaris ikut bertanggung jawab secara 1. The Board of Commissioners are individually
pribadi atas kerugian Perseroan apabila yang responsible for the loss suffered by the Company if
bersangkutan bersalah atau lalai menjalankan the Board is at fault or neglects their duties, except if
tugasnya, kecuali apabila dapat membuktikan: they can prove that:
a. Telah melakukan pengawasan dengan itikad baik a. They have performed supervision in good faith and
dan kehati-hatian untuk kepentingan Perseroan a prudent manner for the Company’s interest, and
dan sesuai dengan maksud dan tujuan Perseroan; in line with the Company’s intents and purposes;
b. Tidak mempunyai kepentingan pribadi baik b. They do not have any direct and indirect personal
langsung maupun tidak langsung atas tindakan interest in the Board of Directors’ management
pengurusan Direksi yang mengakibatkan kerugian; action that causes a loss; and
dan
c. Telah memberikan nasihat kepada Direksi untuk c. They have advised the Board of Directors to prevent
mencegah timbul atau berlanjutnya kerugian the occurrence or continuance of such loss.
tersebut.
2. Dalam hal Dewan Komisaris terdiri atas 2 (dua) 2. If the Board of Commissioners consists of 2 (two)
anggota Dewan Komisaris atau lebih, tanggung jawab members or more, each member of the Board of
berlaku secara tanggung renteng bagi setiap Dewan Commissioners has joint responsibility.
Komisaris.
Wewenang Dewan Komisaris Authorities of the Board of Commissioners
Untuk meningkatkan efektivitas fungsi pengawasan, To enhance the effectiveness of its supervisory function,
Dewan Komisaris memiliki sejumlah kewenangan yang the Board of Commissioners is vested with certain
dijalankan dengan sepengetahuan dan/atau persetujuan authorities exercised with the knowledge and/or approval
Pemegang Saham. Kewenangan tersebut mencakup of the Shareholder. Such authorities include the following: PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
hal-hal sebagai berikut:
1. Dengan suara terbanyak, Dewan Komisaris 1. By majority vote, the Board of Commissioners is
berhak memberhentikan untuk sementara waktu, entitled to temporarily suspend one or more members
seorang atau lebih anggota Direksi, apabila yang of the Board of Directors, if said member acts in
bersangkutan bertindak bertentangan dengan violation of the articles of association and/or laws
Anggaran Dasar, hukum dan/atau peraturan and regulations, neglects their duties, or for other
perundang-undangan, melalaikan kewajibannya, urgent reasons deemed appropriate by the Company.
atau terdapat alasan mendesak yang dinilai tepat Such temporary suspension shall be followed up by
bagi Perseroan. Pemberhentian sementara tersebut the convening of a General Meeting of Shareholders
untuk ditindaklanjuti dengan pelaksanaan RUPS (GMS) to revoke or confirm the temporary suspension
untuk mencabut atau menguatkan keputusan in accordance with the provisions stipulated in the
pemberhentian sementara tersebut sesuai ketentuan Company’s Articles of Association;
yang diatur dalam anggaran dasar Perseroan;
2. Membentuk, mengangkat dan memberhentikan organ 2. Establishing, appointing, and terminating supporting
pendukung Dewan Komisaris dan bersama-sama organs of the Board of Commissioners and collectively
menyusun kerangka acuan kerja yang mendefinisikan establishes a frame of reference that defines their
tugas dan tanggung jawab masing-masing; respective duties and responsibilities;
3. Memberikan penilaian kinerja Direksi secara individual; 3. Providing individual assessment of the performance
of the Board of Directors; 425
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05 Tata Kelola Perusahaan
Good Corporate Governance
4. Mengusulkan nominasi calon Direktur dari internal 4. Proposing nominations for Director candidates from
Perseroan dan remunerasi bagi Dewan Komisaris, within the Company and remuneration for Board
Dewan Pengawas Syariah dan Direksi kepada of Commissioners, Sharia Supervisory Board and
Pemegang Saham; Directors to Shareholders;
5. Memberikan penilaian kinerja pada organ pendukung 5. Assessing the performance of the Board of
Dewan Komisaris; Commissioners’ supporting organs;
6. Menghadiri Rapat Direksi dan memberikan 6. Attending Board of Directors meetings and providing
pandangan-pandangan terhadap hal-hal yang insights and perspectives on matters discussed;
dibicarakan;
7. Melihat buku-buku, surat-surat, serta dokumen- 7. Reviewing the Company’s books, letters, other
dokumen lainnya, memeriksa kas untuk keperluan documents, cash for verification purposes, securities,
verifikasi, dan lain-lain surat berharga, dan memeriksa and assets;
kekayaan Perseroan;
8. Memasuki pekarangan, gedung, dan kantor yang 8. Entering the premises, building, and office used by
dipergunakan oleh Perseroan; the Company;
9. Meminta penjelasan dari Direksi dan/atau pejabat 9. Requesting for explanation from the Board of Directors
lainnya mengenai segala persoalan yang menyangkut and/or other executives on any issues related to the
pengelolaan Perseroan; dan Company’s management; and
10. Mengetahui segala kebijakan dan tindakan yang 10. Having knowledge of every policy and action that is
telah dan akan dijalankan oleh Direksi. and will be taken by the Board of Directors.
Pembagian Tugas Dewan Komisaris Distribution of Duties of the Board of
Commissioner
Pembagian tugas Dewan Komisaris telah ditetapkan The distribution of duties among the Board of
melalui Pembagian tugas Dewan Komisaris telah Commissioners is determined based on Regulation
ditetapkan melalui Peraturan Dewan Komisaris Nomor of the Board of Commissioners Number PER-02/SMI/
PER-02/SMI/DK/0525 tanggal 28 Mei 2025 mengenai DK/0525 dated May 28, 2025, concerning the Distribution
Pembagian Kerja Dewan Komisaris PT Sarana Multi of Duties of the Board of Commissioners of PT Sarana Multi
Infrastruktur (Persero). Berdasarkan ketentuan tersebut, Infrastruktur (Persero). Based on the foregoing provisions,
tugas masing-masing anggota Dewan Komisaris PT SMI the duties of each member of the Board of Commissioners
diatur sebagai berikut: of PT SMI are regulated as follows:
Nama Jabatan Tugas
Name Position Duties
Mengawasi dan memberikan nasihat untuk hal-hal yang terkait dengan kebijakan
secara umum, pembiayaan infrastruktur baik melalui skema pembiayaan langsung
maupun melalui penyiapan proyek pada penerapan skema Kerjasama Pemerintah
Komisaris Utama dan Badan Usaha, dan penugasan khusus yang diberikan kepada Perusahaan.
Andin Hadiyanto
President Commissioner Supervising and providing advice on matters related to general policy, infrastructure
financing activities—both through direct financing schemes and project preparation
for the implementation of Public-Private Partnership schemes, as well as special
assignments given to the Company.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Mengawasi dan memberikan nasihat untuk hal-hal yang terkait dengan industri
jasa keuangan, transformasi dan hubungan kelembagaan, tata kelola Perusahaan
yang baik, pengelolaan sumber daya manusia, pembiayaan daerah dan
pengembangan kerjasama dengan pemerintah daerah, penjaminan pemerintah,
Komisaris serta sebagai Anggota Komite Nominasi dan Remunerasi.
Askolani
Commissioner Supervising and providing advice on matters related to the financial services
industry, transformation and institutional relations, corporate governance practices,
human capital management, regional financing, and the development of
cooperation with regional governments, and as a member of the Nomination and
Remuneration Committee.
Mengawasi dan memberikan nasihat untuk pekerjaan yang terkait dengan aspek
keuangan, kepatuhan dan audit, kegiatan pengembangan pembiayaan dan
Komisaris Independen
Ancella Anitawati supporting, serta berperan sebagai Ketua Komite Audit.
Independent
Hermawan Supervising and providing advice on matters related to financial aspects,
Commissioner
compliance, and audit, as well as the development of financing activities and
supporting functions, while also serving as Head of the Audit Committee.
Mengawasi dan memberikan nasihat untuk pekerjaan yang terkait dengan aspek
manajemen risiko, jasa konsultasi, kepatuhan, tata kelola, sistem manajemen
Informasi, pengelolaan sumber daya manusia, serta berperan sebagai Ketua
Komisaris Independen
Komite Pemantau Risiko.
Dikdik Yustandi Independent
Supervising and providing advice on matters related to risk management,
Commissioner
consulting services, compliance, governance, information management systems,
and human capital management, while also serving as Head of the Risk Monitoring
Committee.
426
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Nama Jabatan Tugas
Name Position Duties
Mengawasi dan memberikan nasihat untuk pekerjaan yang terkait dengan kegiatan
pengembangan pembiayaan Infrastruktur dan hubungan dengan lembaga lain,
baik dalam negeri maupun luar negeri, pembiayaan syariah, pengelolaan pinjaman
multilateral, pendanaan dari dalam dan luar negeri, penjaminan oleh pemerintah,
Komisaris Independen pengawasan anak Perusahaan, serta berperan sebagai Ketua Komite Nominasi &
Arief Wibisono
Independent Remunerasi.
Lubis
Commissioner Supervising and providing advice on matters related to infrastructure financing
development, relations with domestic and international institutions, sharia financing,
multilateral loan management, domestic and international funding, government
guarantees, and subsidiary oversight, while also serving as Head of the Nomination
& Remuneration Committee.
Jenis-Jenis Keputusan yang Perlu Types of Decisions Requiring the Approval
Mendapatkan Persetujuan Dewan of the Board of Commissioners
Komisaris
Dalam rangka memastikan bahwa pengelolaan Perseroan To ensure that the management of the Company is
berlangsung secara optimal dan selaras dengan prinsip carried out optimally and in alignment with applicable
tata kelola yang berlaku, terdapat sejumlah keputusan governance principles, certain strategic decisions of the
strategis Direksi yang wajib memperoleh persetujuan Board of Directors require prior approval from the Board
dari Dewan Komisaris. Keputusan-keputusan tersebut of Commissioners. These decisions cover various key
mencakup berbagai aspek penting, di antaranya: aspects, including:
1. Mengagunkan aktiva tetap untuk penarikan kredit 1. To pledge fixed assets as collateral for short-term
jangka pendek. credit withdrawals.
2. Menerima atau memberikan pinjaman jangka 2. To receive or grant medium- and long-term loans,
menengah/panjang, kecuali terhadap pinjaman except for borrowings (including financing/credit
(untuk penerimaan pinjaman termasuk pembiayaan/ facilities, issuance of bonds or sukuk) undertaken in the
kredit, penerbitan surat utang atau sukuk) yang ordinary course of the Company’s business activities
dilakukan dalam rangka pelaksanaan kegiatan usaha and/or the provision of loans to subsidiaries or joint
Perseroan dan/atau pemberian pinjaman kepada venture companies, provided that the implementation
anak perusahaan atau perusahaan patungan, of such activities shall be reported to the Board of
dengan ketentuan pelaksanaan kedua kegiatan Commissioners.
tersebut wajib dilaporkan kepada Dewan Komisaris.
3. Menghapuskan dari pembukuan piutang macet dan 3. To write off uncollectible receivables and obsolete
persediaan barang mati. inventory from the books.
4. Menetapkan struktur organisasi. 4. To determine the organizational structure.
5. Tidak menagih lagi sebagian atau seluruh piutang 5. To waive the collection of part or all receivables relating
bunga, denda, ongkos, dan piutang lainnya selain to interest, penalties, fees, and other receivables
piutang pokok dalam rangka restrukturisasi dan/atau aside from principal amounts in the context of
penyelesaian piutang serta melakukan perbuatan restructuring and/or settlement of receivables, as
lain dalam rangka penyelesaian piutang Perseroan. well as to undertake other actions in connection with
the settlement of the Company’s receivables.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Pelaksanaan Rapat Dewan Komisaris Implementation of the Board of
Commissioners Meetings
Dewan Komisaris melaksanakan kegiatan rapat The Board of Commissioners conducts meetings on a
secara berkala dalam rangka menjalankan fungsi regular basis to effectively carry out its supervisory function
pengawasan secara efektif dan memastikan tata kelola and to ensure that corporate governance is implemented
perusahaan diterapkan sesuai ketentuan. Ketentuan in accordance with applicable regulations. The organization
penyelenggaraan rapat Dewan Komisaris mengacu of Board of Commissioners meetings refers to Regulation
pada POJK No. 33/POJK.04/2014, PMK No. 88/PMK.06/2015, of the Financial Services Authority No. 33/POJK.04/2014,
serta Anggaran Dasar Perseroan, yang mengatur bahwa Regulation of the Minister of Finance No. 88/PMK.06/2015, and
rapat diselenggarakan minimal satu kali setiap bulan the Company’s Articles of Association, which stipulate that
atau sewaktu-waktu apabila diperlukan oleh Komisaris meetings must be held at least once a month or at any time
Utama maupun atas permintaan sekurang-kurangnya when deemed necessary by the President Commissioner or
sepertiga jumlah anggota Dewan Komisaris. Pemegang upon the request of at least one-third of the members of the
saham juga bisa melakukan permintaan tertulis dengan Board of Commissioners. The Shareholder may also submit
menyebutkan hal-hal yang akan dibicarakan. Dalam a written request specifying the matters to be discussed.
pelaksanaan rapat, Dewan Komisaris dapat mengundang In conducting meetings, the Board of Commissioners
Direksi atau pihak lain yang relevan guna memberikan may invite members of the Board of Directors or other
penjelasan tambahan, memastikan proses pengawasan relevant parties to provide additional explanations, thereby
berlangsung objektif dan komprehensif. ensuring that the supervisory process remains objective 427
and comprehensive.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Adapun tata cara dan mekanisme rapat sepenuhnya The procedures and mechanisms for meetings are
diatur dalam Board Manual yang berfungsi sebagai fully regulated in the Board Manual, which serves as
pedoman pelaksanaan tugas dan tata tertib rapat. the guideline for the execution of duties and meeting
Setiap rapat didokumentasikan dalam bentuk risalah protocols. Each meeting is documented in minutes that
yang memuat jalannya diskusi, pandangan anggota, record the course of discussions, views of members,
keputusan yang disepakati, serta penjelasan atas resolutions adopted, and explanations for any absences.
ketidakhadiran anggota jika terdapat yang berhalangan. The minutes are distributed to all members of the Board
Risalah tersebut didistribusikan kepada seluruh anggota of Commissioners, whether present or absent, as a
Dewan Komisaris, baik yang hadir maupun yang tidak reflection of transparency and accountability in the
hadir, sebagai bentuk transparansi dan akuntabilitas decision-making process. Through this mechanism, PT
dalam proses pengambilan keputusan. Dengan ini, PT SMI SMI ensures that all members receive complete and
memastikan bahwa seluruh anggota tetap memperoleh up-to-date information, thereby strengthening the
informasi yang lengkap dan terkini, sekaligus memperkuat effectiveness of the Board of Commissioners’ oversight
efektivitas fungsi pengawasan Dewan Komisaris terhadap over the Company’s operational activities.
kegiatan operasional Perseroan.
Rapat Internal Dewan Komisaris Internal Meetings of the Board of
Commissioners
Sepanjang tahun 2025, Dewan Komisaris melaksanakan Throughout 2025, the Board of Commissioners held 12
12 (dua belas) kali rapat. Adapun tingkat kehadiran (twelve) meetings. The attendance level of each member
masing-masing anggota Dewan Komisaris dalam rapat- at these meetings was recorded transparently as part
rapat tersebut juga dicatat secara transparan sebagai of the implementation of the principle of accountability.
bentuk penerapan prinsip akuntabilitas. Adapun rincian The details of the internal meeting agendas and the
agenda rapat internal dan frekuensi kehadiran setiap frequency of attendance of each member of the Board
anggota Dewan Komisaris disajikan pada tabel berikut. of Commissioners are presented in the following table.
Kehadiran Dewan Komisaris
Tanggal Rapat Agenda Attendance of the Board of Commissioners
No Agenda
Date of Meeting
SM SU DY AAH AWL AH AS
1. Laporan Bulanan KA; dan
2. Laporan Bulanan KPR
30 Januari 2025 1. Monthly Report of the Audit
1. V V* V V V - -
January 30, 2025 Committee; and
2. Monthly Report of the Risk
Monitoring Committee
1. Laporan Bulanan KA; dan
2. Laporan Bulanan KPR
27 Februari 2025 1. Monthly Report of the Audit
2. V* V V V V - -
February 27, 2025 Committee; and
2. Monthly Report of the Risk
Monitoring Committee
1. Laporan Bulanan KA; dan
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
2. Laporan Bulanan KPR
25 Maret 2025 1. Monthly Report of the Audit
3. V V V V V - -
March 25, 2025 Committee; and
2. Monthly Report of the Risk
Monitoring Committee
1. Laporan Bulanan KA;
2. Laporan Bulanan KPR; dan
3. Laporan Realisasi IKU Dewan
Komisaris TW I 2025
1. Monthly Report of the Audit
Committee;
28 April 2025
4. 2. Monthly Report of the Risk V* V V V V - -
April 28, 2025
Monitoring Committee; and
3. Report on the Realization
of the Board of
Commissioners’ Key
Performance Indicators
(KPIs) for Q1 2025
428
Page 159
Kehadiran Dewan Komisaris
Tanggal Rapat Agenda Attendance of the Board of Commissioners
No Agenda
Date of Meeting
SM SU DY AAH AWL AH AS
1. Perkenalan Dewan
Komisaris Baru &
Pengangkatan Anggota
KNR;
2. Updated dan outstanding
issue dari KA; dan
3. Updated dan outstanding
issue dari KPR
1. Introduction of the New
27 Mei 2025
5. Board of Commissioners - - V V V V V
May 27, 2025
and Appointment of
Members of the Risk
Monitoring Committee;
2. Updates and outstanding
issues from the Audit
Committee; and
3. Updates and outstanding
issues from the Risk
Monitoring Committee.
1. Laporan Bulanan KA;
2. Laporan Bulanan KPR; dan
3. Update Progress Perbaikan
Area of Improvement (“AoI”)
Aspek Dewan Komisaris
sebagai Tindak Lanjut atas
Hasil GCG Assessment
1. Monthly Report of the Audit
1 Juli 2025 Committee;
6. - - V V V V V*
July 1, 2025 2. Monthly Report of the Risk
Monitoring Committee; and
3. Progress Update on the
Improvement of Areas
of Improvement (“AoI”)
relating to the Board of
Commissioners as follow-
up to the GCG Assessment
results.
1. Laporan Bulanan KA;
2. Laporan Bulanan KPR;
3. Laporan Bulanan KNR; dan
4. Laporan Realisasi IKU Dewan
Komisaris TW II 2025
1. Monthly Report of the Audit
Committee;
2. Monthly Report of the Risk
30 Juli 2025 Monitoring Committee;
7. - - V V V V V
July 30, 2025 3. Monthly Report of
the Nomination and
Remuneration Committee;
and
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
4. Report on the Realization
of the Board of
Commissioners’ Key
Performance Indicators
(KPIs) for Q2 2025
1. Laporan Bulanan KA;
2. Laporan Bulanan KPR; dan
3. Laporan KNR
1. Monthly Report of the Audit
29 Agustus 2025 Committee;
8. - - V V V V V
August 29, 2025 2. Monthly Report of the Risk
Monitoring Committee; and
3. Monthly Report of
the Nomination and
Remuneration Committee;
429
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05 Tata Kelola Perusahaan
Good Corporate Governance
Kehadiran Dewan Komisaris
Tanggal Rapat Agenda Attendance of the Board of Commissioners
No Agenda
Date of Meeting
SM SU DY AAH AWL AH AS
1. Laporan Bulanan KA;
2. Laporan Bulanan KPR;
3. Pembahasan RKA Dewan
Komisaris Tahun 2026; dan
4. Laporan KNR
1. Monthly Report of the Audit
2 Oktober 2025 Committee;
9. - - V V V V V
October 2, 2025 2. Monthly Report of the Risk
Monitoring Committee;
3. Discussion of the Board of
Commissioners’ 2026 Work
Plan and Budget (RKA); and
4. Report of the Risk Monitoring
Committee.
1. Laporan Bulanan KA;
2. Laporan Bulanan KPR;
3. Laporan Bulanan KNR; dan
4. Laporan Realisasi IKU Dewan
Komisaris TW III 2025
1. Monthly Report of the Audit
Committee;
2. Monthly Report of the Risk
31 Oktober 2025 Monitoring Committee;
10. - - V V V V V*
October 31, 2025 3. Monthly Report of
the Nomination and
Remuneration Committee;
and
4. Report on the Realization
of the Board of
Commissioners’ Key
Performance Indicators
(KPIs) for Q3 2025
1. Laporan Bulanan KA;
2. Laporan Bulanan KPR; dan
3. Laporan Bulanan KNR
1. Monthly Report of the Audit
28 November 2025 Committee;
11. - - V V V V V
November 28, 2025 2. Monthly Report of the Risk
Monitoring Committee; and
3. Monthly Report of
the Nomination and
Remuneration Committee;
1. Laporan Bulanan KA;
2. Laporan Bulanan KPR; dan
3. Laporan Bulanan KNR
1. Monthly Report of the Audit
30 Desember 2025 Committee;
12. - - V V V V V
December 30, 2025 2. Monthly Report of the Risk
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Monitoring Committee; and
3. Monthly Report of
the Nomination and
Remuneration Committee;
Jumlah Kehadiran
4 4 12 12 12 8 8
Total Attendance
Persentase Kehadiran
100% 100% 100% 100% 100% 100% 100%
Percentage of Attendance
Keterangan: Notes:
V : Hadir V : Present
V* : Hadir dengan Surat Kuasa V* : Present by Proxy
X : Tidak Hadir X : Absent
S : Suminto (Menjabat sampai dengan 7 Mei 2025) S : Suminto (served until May 7, 2025)
SU : Suryo Utomo (Menjabat sampai dengan 7 Mei 2025) SU : Suryo Utomo (served until May 7, 2025)
AAH : Ancella Anitawati Hermawan AAH : Ancella Anitawati Hermawan
DY : Dikdik Yustandi DY : Dikdik Yustandi
AWL : Arief Wibisono Lubis AWL : Arief Wibisono Lubis
AH : Andin Hadiyanto (Menjabat sejak 7 Mei 2025) AH : Andin Hadiyanto (served since May 7, 2025)
AS : Askolani (Menjabat sejak 7 Mei 2025) AS : Askolani (served since May 7, 2025)
430
Page 161
Rapat Gabungan Dewan Komisaris Joint Meeting of the Board of
dan Direksi Commissioners and the Board of Directors
Dalam rangka memastikan efektivitas fungsi To ensure the effectiveness of its supervisory function
pengawasan dan pemberian arahan strategis kepada and the provision of strategic guidance to the Board
Direksi, Dewan Komisaris turut berpartisipasi aktif dalam of Directors, the Board of Commissioners actively
penyelenggaraan rapat gabungan Dewan Komisaris dan participated in 18 (eighteen) joint meetings of the Board
Direksi sebanyak 18 (delapan belas) kali rapat sepanjang of Commissioners and the Board of Directors throughout
tahun 2025. Adapun rincian frekuensi serta tingkat 2025. The details of the frequency and attendance level
kehadiran Dewan Komisaris dalam rapat gabungan of the Board of Commissioners in such joint meetings
tersebut disajikan sebagai berikut: are presented as follows:
Kehadiran Dewan Komisaris
Tanggal Rapat Agenda Attendance of the Board of Commissioners
No Agenda
Date of Meeting
SM SU DY AAH AWL AH AS
1. Update Laporan Kinerja
Perseroan bulan Desember
2024 (termasuk Laporan
Manajemen Triwulan IV 2024,
Laporan Realisasi Rencana
Bisnis Semester II 2024, Update
GRC, ALM dan Kinerja Anak
Perusahaan);
2. Hal Strategis yang Perlu
Disampaikan ke Dewan Komisaris
(Progress Transformasi PT SMI,
Pelaksanaan Mandat ETM, dan
5 Februari 2025 lainnya)
1. V V V V V - -
February 5, 2025 1. Update on the Company’s
Performance Report for
December 2024 (including
Q4 2024 Management Report,
Realization of Semester II 2024
Business Plan, updates on
GRC, ALM, and Subsidiaries’
Performance);
2. Strategic matters to be conveyed
to the Board of Commissioners
(Progress of PT SMI
Transformation, implementation
of the ETM mandate, etc).
Persetujuan Dewan Komisaris atas
Form Evaluasi KUMR
19 Februari 2025
2. Approval by the Board of V* V V V V - -
February 19, 2025
Commissioners on the KUMR
Evaluation Form.
Pembahasan Laporan Gejala
Penurunan Kinerja Januari 2025
28 Februari 2025
3. Discussion on the Early Warning V V V V V - -
February 28, 2025
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Report on Performance Decline –
January 2025.
1. Update Laporan Kinerja
Perseroan bulan Januari 2025
(termasuk Update GRC, ALM, dan
Kinerja Anak Perusahaan;
2. Update Progress Audit Laporan
Keuangan; dan
3. Penyampaian Rencana
Pembiayaan LF MMQ kepada PTN
3 Maret 2025 BH UGM
4. V V V V V - -
March 3, 2025 1. Update on the Company’s
Performance Report for January
2025 (including updates on
GRC, ALM, and Subsidiaries’
Performance);
2. Update on the progress of the
Financial Statement Audit; and
3. Presentation of the LF MMQ
Financing Plan to PTN BH UGM.
431
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05 Tata Kelola Perusahaan
Good Corporate Governance
Kehadiran Dewan Komisaris
Tanggal Rapat Agenda Attendance of the Board of Commissioners
No Agenda
Date of Meeting
SM SU DY AAH AWL AH AS
1. Update Laporan Kinerja
Perseroan bulan Februari 2025
(termasuk Update GRC, ALM, dan
Kinerja Anak Perusahaan); dan
2. Update kebijakan sistem
pengendalian internal
dan pelaksanaannya
26 Maret 2025
5. 1. Update on the Company’s V V V V V - -
March 26, 2025
Performance Report for February
2025 (including updates on
GRC, ALM, and Subsidiaries’
Performance); and
2. Update on the Internal
Control System policy and its
implementation.
Laporan Progress Pembiayaan
Publik dan Rencana
10 April 2025
6. Pembiayaan Publik LKBB V V* V V V - -
April 10, 2025
Progress Report on Public Financing
and Public Financing Plan for LKBB.
Update Laporan Kinerja Perseroan
bulan Maret 2025 (termasuk
Laporan Manajemen Triwulan I-2025,
Update GRC, ALM, dan kinerja anak
30 April 2025 perusahaan)
7. V* V V V V - -
April 30, 2025 Update on the Company’s
Performance Report for March 2025
(including Q1 2025 Management
Report, updates on GRC, ALM, and
Subsidiaries’ Performance).
1. Update Laporan Kinerja
Perseroan bulan April 2025
(termasuk Update GRC, ALM, dan
Kinerja Anak Perusahaan); dan
2. Update Kebijakan Akuntansi dan
Penyusunan Laporan Keuangan
Sesuai Dengan Standar
Akuntansi Yang Berlaku Umum di
Indonesia (SAK)
2 Juni 2025
8. 1. Update on the Company’s - - V V V V V
June 2, 2025
Performance Report for April 2025
(including updates on GRC, ALM,
and Subsidiaries’ Performance);
and
2. Update on Accounting Policies
and the Preparation of Financial
Statements in accordance with
Indonesian Financial Accounting
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Standards (SAK).
Pembahasan Laporan Gejala
Penurunan Kinerja Mei 2025
1 Juli 2025
9. Discussion on the Early Warning - - V V V V V*
July 1, 2025
Report on Performance Decline – May
2025.
1. Update Laporan Kinerja
Perseroan bulan Mei 2025
(termasuk Update GRC, ALM, dan
Kinerja Anak Perusahaan);
2. Update Kebijakan Sistem
Teknologi Informasi Perusahaan
dan Pelaksanannya; dan
3. Update Divestasi PT Cimanggis
Cibitung Tollways
7 Juli 2025
10. 1. Update on the Company’s - - V V V V V
July 7, 2025
Performance Report for May 2025
(including updates on GRC, ALM,
and Subsidiaries’ Performance);
2. Update on the Company’s
Information Technology System
policy and its implementation;
and
3. Update on the divestment of PT
432
Cimanggis Cibitung Tollways.
Page 163
Kehadiran Dewan Komisaris
Tanggal Rapat Agenda Attendance of the Board of Commissioners
No Agenda
Date of Meeting
SM SU DY AAH AWL AH AS
1. Update Laporan Kinerja
Perseroan bulan Juni 2025
(termasuk Laporan Manajemen
Triwulan II-2025, Update
GRC, ALM, dan kinerja anak
perusahaan); dan
2. Kebijakan Pengelolaan Sumber
Daya Manusia, khususnya
tentang manajemen karier
di Perusahaan, sistem dan
prosedur promosi, mutasi, dan
demosi di Perusahaan, dan
4 Agustus 2025
11. pelaksanaannya - - V V V V V
August 4, 2025
1. Update on the Company’s
Performance Report for June
2025 (including Q2 2025
Management Report, updates
on GRC, ALM, and Subsidiaries’
Performance); and
2. Human Capitals Management
Policy, particularly on career
management, promotion,
rotation, and demotion systems
and procedures, and their
implementation.
Pembahasan Pelepasan Saham
dan Pengalihan Pokok Pinjaman
Pemegang Saham pada
4 Agustus 2025
12. PT Cimanggis Cibitung Tollways - - V V V V V*
August 4, 2025
Discussion on the Share Disposal and
Transfer of Shareholder Loan Principal
at PT Cimanggis Cibitung Tollways.
1. Update Laporan Kinerja
Perseroan bulan Juli 2025
(termasuk Update GRC, ALM, dan
kinerja anak perusahaan); dan
2. Kebijakan Pengadaan dan
Pelaksanaannya
1 September 2025
13. 1. Update on the Company’s - - V V V V V
September 1, 2025
Performance Report for July 2025
(including updates on GRC, ALM,
and Subsidiaries’ Performance);
and
2. Procurement Policy and its
implementation.
1. Update Laporan Kinerja
Perseroan bulan Agustus 2025
(termasuk Update GRC, ALM, dan
kinerja anak perusahaan); dan PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
2. Kebijakan Mutu atau Kepuasan
Pelayanan serta pelaksanaan
kebijakan tersebut sesuai bidang
usaha Perseroan
6 Oktober 2025 1. Update on the Company’s
14. - - V V V V V
October 6, 2025 Performance Report for August
2025 (including updates on
GRC, ALM, and Subsidiaries’
Performance); and
2. Service Quality or Customer
Satisfaction Policy and its
implementation in accordance
with the Company’s line of
business.
Pembahasan Awal RKAP Tahun 2026
8 Oktober 2025 Preliminary Discussion of the
15. - - V V V V V*
October 8, 2025 Company’s 2026 Work Plan and
Budget
433
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05 Tata Kelola Perusahaan
Good Corporate Governance
Kehadiran Dewan Komisaris
Tanggal Rapat Agenda Attendance of the Board of Commissioners
No Agenda
Date of Meeting
SM SU DY AAH AWL AH AS
Pembahasan Laporan Gejala
Penurunan Kinerja September 2025
20 Oktober 2025
16. Discussion on the Early Warning - - V V V V V
October 20, 2025
Report on Performance Decline –
September 2025.
Update Laporan Kinerja Perseroan
bulan September 2025 (termasuk
Laporan Manajemen Triwulan III-
2025, Update GRC, ALM, dan kinerja
anak perusahaan)
5 November 2025
17. Update on the Company’s - - V V V V V
November 5, 2025
Performance Report for September
2025 (including Q3 2025
Management Report, updates
on GRC, ALM, and Subsidiaries’
Performance).
1. Persiapan RUPS RKAP 2026;
2. Update Laporan Kinerja
Perseroan bulan Oktober 2025
(termasuk Update GRC, ALM, dan
kinerja anak perusahaan); dan
3. Pembahasan Laporan Penerapan
APU PPT PPSPM
1. Preparation for GMS on the
1 Desember 2025 Company’s 2026 Work Plan and
18. - - V V V V V
December 1, 2025 Budget;
2. Update on the Company’s
Performance Report for October
2025 (including updates on
GRC, ALM, and Subsidiaries’
Performance); and
3. Discussion on the Report on the
Implementation of AML, CTF and
CPF-WMD.
Jumlah Kehadiran
7 7 18 18 18 11 11
Total Attendance
Persentase Kehadiran
100% 100% 100% 100% 100% 100% 100%
Percentage of Attendance
Keterangan: Notes:
V : Hadir V : Present
V* : Hadir dengan Surat Kuasa V* : Present by Proxy
X : Tidak Hadir X : Absent
S : Suminto (Menjabat sampai dengan 7 Mei 2025) S : Suminto (served until May 7, 2025)
SU : Suryo Utomo (Menjabat sampai dengan 7 Mei 2025) SU : Suryo Utomo (served until May 7, 2025)
AAH : Ancella Anitawati Hermawan AAH : Ancella Anitawati Hermawan
DY : Dikdik Yustandi DY : Dikdik Yustandi
AWL : Arief Wibisono Lubis AWL : Arief Wibisono Lubis
AH : Andin Hadiyanto (Menjabat sejak 7 Mei 2025) AH : Andin Hadiyanto (served since May 7, 2025)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
AS : Askolani (Menjabat sejak 7 Mei 2025) AS : Askolani (served since May 7, 2025)
Rapat Konsultasi Dewan Komisaris Consultation Meetings of the Board of
dan Direksi Commissioners and the Board of Directors
Sebagai bagian dari mekanisme pengawasan yang As part of a structured oversight mechanism, the Board of
terstruktur, Dewan Komisaris menyelenggarakan rapat Commissioners convenes consultation meetings focused
konsultasi yang difokuskan pada pembahasan agenda- on discussing strategic agendas and matters stipulated in
agenda strategis serta isu-isu yang telah ditetapkan the Board Manual. Throughout 2025, a total of 16 (sixteen)
dalam Board Manual. Sepanjang tahun 2025, rapat consultation meetings were held jointly with the Board
konsultasi bersama Direksi telah dilaksanakan sebanyak of Directors. The details of the attendance level of each
16 (enam belas) kali rapat. Adapun rincian tingkat member of the Board of Commissioners are presented
kehadiran masing-masing anggota Dewan Komisaris as follows:
tercantum sebagai berikut:
434
Page 165
Kehadiran Dewan Komisaris
Tanggal Rapat Agenda Attendance of the Board of Commissioners
No Agenda
Date of Meeting
SM SU DY AAH AWL AH AS
Konsultasi Pembiayaan PT Kereta Api
19 Februari 2025 Indonesia (Persero)
1. V* V V V V - -
February 19, 2025 Financing Consultation for PT Kereta Api
Indonesia (Persero)
Konsultasi Pembiayaan PT Medco
10 April 2025 Cahaya Geothermal
2. V V* V V V = -
April 10, 2025 Financing Consultation for PT Medco
Cahaya Geothermal
Konsultasi Pembiayaan PT Armada
30 April 2025 Gema Nusantara
3. V* V V V V - -
April 30, 2025 Financing Consultation for PT Armada
Gema Nusantara
1. Konsultasi Usulan Pembiayaan PT
Oki Pulp & Paper Mills; dan
2. Konsultasi Usulan Pembiayaan
PT Kereta Api Indonesia – LRT
26 Mei 2025 Jabodebek
4. - - V V V V V*
May 26, 2025 1. Consultation on Proposed Financing
for PT OKI Pulp & Paper Mills; and
2. Consultation on Proposed Financing
for PT Kereta Api Indonesia – LRT
Jabodebek.
1. Konsultasi Usulan Pembiayaan PT
Citra Marga Nusaphala Persada;
dan
2. Konsultasi Usulan Pembiayaan PT
Jasamarga Jalanlayang Cikampek
24 Juni 2025
5. 1. Consultation on Proposed Financing - - V V V V V
June 24, 2025
for PT Citra Marga Nusaphala
Persada; and
2. Consultation on Proposed Financing
for PT Jasamarga Jalanlayang
Cikampek.
Konsultasi Perpanjangan Fasilitas Modal
Kerja Revolving dan Penambahan
Pembiayaan Investasi kepada PT
4 Agustus 2025 Krakatau Bandar Samudera
6. - - V V V V V
August 4, 2025 Consultation on the Extension of a
Revolving Working Capital Facility and
Additional Investment Financing for PT
Krakatau Bandar Samudera
1. Konsultasi Pemberian Fasilitas
Corporate Financing kepada PT
Pertamina International Shipping;
dan
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
2. Konsultasi Pemberian Pembiayaan
kepada PT Pertamina Hulu Energi
(Corporate Financing – Selldown
19 Agustus 2025 dari porsi BNI)
7. - - V V V V V
August 19, 2025 1. Consultation on the Provision of a
Corporate Financing Facility to PT
Pertamina International Shipping;
and
2. Consultation on the Provision of
Financing to PT Pertamina Hulu
Energi (Corporate Financing –
Selldown from BNI portion)
Konsultasi Usulan Pembiayaan kepada
20 Agustus 2025 HK Akses Tanjung Priok
8. - - V V V V V*
August 20, 2025 Consultation on Proposed Financing for
HK Akses Tanjung Priok
435
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05 Tata Kelola Perusahaan
Good Corporate Governance
Kehadiran Dewan Komisaris
Tanggal Rapat Agenda Attendance of the Board of Commissioners
No Agenda
Date of Meeting
SM SU DY AAH AWL AH AS
1. Konsultasi Usulan Pembiayaan
kepada PT Tower Bersama
Infrastructure Tbk; dan
2. Konsultasi Pemberian SHL Bridging
kepada PT Cimanggis Cibitung
Tollways
2 September 2025
9. 1. Consultation on Proposed Financing - - V V V V V
September 2, 2025
for PT Tower Bersama Infrastructure
Tbk; and
2. Consultation on the Provision of a
Shareholder Loan (SHL) Bridging
Facility to PT Cimanggis Cibitung
Tollways.
1. Rencana Pemberian Fasilitas
Pembiayaan Sindikasi a.n. PT OKI
Pulp & Paper Mills;
2. Pemberian Fasilitas Pembiayaan
Non Cash kepada PT Pelabuhan
Patimban Internasional;
3. Restrukturisasi Fasilitas Pembiayaan
kepada PT PP Semarang Demak;
dan
4. Perpanjangan Divestasi PT
23 September 2025
10. Cimanggis Cibitung Tollways - - V V V V V
September 23, 2025
1. Proposed Provision of a Syndicated
Financing Facility on behalf of PT OKI
Pulp & Paper Mills;
2. Provision of a Non-Cash Financing
Facility to PT Pelabuhan Patimban
Internasional;
3. Restructuring of Financing Facilities
for PT PP Semarang Demak; and
4. Extension of the Divestment of PT
Cimanggis Cibitung Tollways
Konsultasi Pembiayaan PT Kereta
10 Oktober 2025 Commuter Indonesia
11. - - V V V V V
October 10, 2025 Financing Consultation for PT Kereta
Commuter Indonesia. Financing
15 Oktober 2025 Konsultasi Pembiayaan PLN Batam
12. - - V V V V V
October 15, 2025 Consultation for PLN Batam
Konsultasi Pemkab Badung
20 Oktober 2025
13. Consultation with the Regency - - V V V V V
October 20, 2025
Government of Badung
Konsultasi Pembiayaan PT Hutama
1 Desember 2025 Panorama Sitinjau Lauik
14. - - V V V V V
December 1, 2025 Financing Consultation for PT Hutama
Panorama Sitinjau Lauik. Financing
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Konsultasi Pembiayaan Corporate
Financing Project Archipelago
15 Desember 2025 (InJourney Group)
15. - - V V V V V
December 15, 2025 Consultation for Corporate Financing –
Project Archipelago (InJourney Group).
Financing
Konsultasi Pembiayaan kepada
19 Desember 2025
16. PT PLN (Persero) - - V V V V V
December 19, 2025
Consultation for PT PLN (Persero)
Jumlah Kehadiran
3 3 16 16 16 13 13
Total Attendance
Persentase Kehadiran
100% 100% 100% 100% 100% 100% 100%
Percentage of Attendance
Keterangan: Notes:
V : Hadir V : Present
V* : Hadir dengan Surat Kuasa V* : Present by Proxy
X : Tidak Hadir X : Absent
S : Suminto (Menjabat sampai dengan 7 Mei 2025) S : Suminto (served until May 7, 2025)
SU : Suryo Utomo (Menjabat sampai dengan 7 Mei 2025) SU : Suryo Utomo (served until May 7, 2025)
AAH : Ancella Anitawati Hermawan AAH : Ancella Anitawati Hermawan
DY : Dikdik Yustandi DY : Dikdik Yustandi
AWL : Arief Wibisono Lubis AWL : Arief Wibisono Lubis
AH : Andin Hadiyanto (Menjabat sejak 7 Mei 2025) AH : Andin Hadiyanto (served since May 7, 2025)
436 AS : Askolani (Menjabat sejak 7 Mei 2025) AS : Askolani (served since May 7, 2025)
Page 167
Kehadiran Dewan Komisaris dalam Rapat Attendance of the Board of Commissioners
Umum Pemegang Saham Tahunan at the Annnual General Meeting of
Shareholders (GMS)
Frekuensi kehadiran Dewan Komisaris pada pelaksanaan The frequency of attendance of the Board of
RUPS Tahunan sepanjang tahun 2025 disajikan pada Commissioners at Annual General Meetings of
tabel berikut. Shareholders (GMS) throughout 2025 is presented in
the following table.
Kehadiran Dewan Komisaris
Tanggal Rapat Agenda Attendance of the Board of Commissioners
No Agenda
Date of Meeting
SM SU DY AAH AWL AH AS
1. Persetujuan atas Laporan Tahunan
Perseroan Tahun Buku 2024 yang
mencakup:
a. Pengesahan Laporan Keuangan
Perseroan Tahun Buku 2024;
b. Pengesahan atas Laporan Keuangan
dan Laporan Pelaksanaan Tanggung
Jawab Sosial dan Lingkungan Tahun
Buku 2024;
c. Persetujuan Laporan Tugas
Pengawasan Dewan Komisaris
Perseroan Tahun Buku 2024;
d. Persetujuan Laporan Tugas
Pengawasan Dewan Pengawas
Syariah Perseroan Tahun Buku 2024;
dan V* V* V V V - -
e. Pemberian Pelunasan dan
Pembebasan Sepenuhnya (Acquit et
de Charge) kepada Seluruh Anggota
Dewan Komisaris, dan Direksi Perseroan
atas Tindakan Pengawasan dan
Pengurusan yang telah dijalankan
selama Tahun Buku 2024;
2. Penetapan Penggunaan Laba Bersih
Perseroan Tahun Buku 2024; dan
3. Pembayaran Tantiem Dewan Komisaris
dan Direksi berdasarkan Kinerja Tahun
Buku 2024 serta Penyesuaian Remunerasi
Dewan Komisaris dan Direksi Perseroan
7 Mei 2025 untuk Tahun Buku 2025.
1.
May 7, 2025 1. Approval of the Company’s Annual Report
for 2024 Fiscal Year, which includes:
a. Ratification of the Company’s
Financial Statements for 2024 Fiscal
Year;
b. Ratification of Financial Report and
Corporate Social Responsibility Report
for 2024 Fiscal Year;
c. Approval of the Supervisory Report of
the Board of Commissioners for 2024
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Fiscal Year;
d. Approval of the Supervisory Report of
the Sharia Supervisory Board for 2024
Fiscal Year; and
e. Granting of full release and discharge
(Acquit et de Charge) to all members
of the Board of Commissioners
and the Board of Directors for the
supervisory and management
actions performed during 2024 Fiscal
Year;
2. Determination of the appropriation of the
Company’s net profit for 2024 Fiscal Year;
and
3. Payment of tantiem to the Board of
Commissioners and the Board of Directors
based on performance for 2024 Fiscal Year,
as well as adjustment of the remuneration
of the Board of Commissioners and the
Board of Directors for 2025 Fiscal Year.
437
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05 Tata Kelola Perusahaan
Good Corporate Governance
Kehadiran Dewan Komisaris
Tanggal Rapat Agenda Attendance of the Board of Commissioners
No Agenda
Date of Meeting
SM SU DY AAH AWL AH AS
Pembahasan dan Persetujuan Rencana Kerja
dan Anggaran Perusahaan Perseroan Tahun
2026 serta Pembahasan dan Persetujuan
Kontrak Kinerja Direksi, Kontrak Kinerja
Dewan Komisaris, dan Kontrak Kinerja Dewan
10 Desember 2025 Pengawas Syariah Tahun 2026.
2. - - V V V V V
December 10, 2025 Discussion and approval of the Company’s
2026 Work Plan and Budget, as well as
discussion and approval of the 2026
Performance Contracts of the Board of
Directors, the Board of Commissioners, and
the Sharia Supervisory Board.
Jumlah Kehadiran
1 1 2 2 2 1 1
Total Attendance
Persentase Kehadiran
100% 100% 100% 100% 100% 100% 100%
Percentage of Attendance
Keterangan: Notes:
V : Hadir V : Present
V* : Hadir dengan Surat Kuasa V* : Present by Proxy
X : Tidak Hadir X : Absent
S : Suminto (Menjabat sampai dengan 7 Mei 2025) S : Suminto (served until May 7, 2025)
SU : Suryo Utomo (Menjabat sampai dengan 7 Mei 2025) SU : Suryo Utomo (served until May 7, 2025)
AAH : Ancella Anitawati Hermawan AAH : Ancella Anitawati Hermawan
DY : Dikdik Yustandi DY : Dikdik Yustandi
AWL : Arief Wibisono Lubis AWL : Arief Wibisono Lubis
AH : Andin Hadiyanto (Menjabat sejak 7 Mei 2025) AH : Andin Hadiyanto (served until May 7, 2025)
AS : Askolani (Menjabat sejak 7 Mei 2025) AS : Askolani (served until May 7, 2025)
PROGRAM PENGENALAN BAGI ORIENTATION PROGRAM FOR
DEWAN KOMISARIS BARU NEW MEMBERS OF THE BOARD
OF COMMISSIONERS
Penerapan tata kelola yang efektif mendorong Perseroan The implementation of effective governance encourages
menyediakan program pengenalan ( orientation the Company to provide a comprehensive orientation
program) yang komprehensif bagi setiap anggota Dewan program for each newly appointed member of the Board
Komisaris yang baru diangkat. Program orientasi tersebut of Commissioners. This orientation program is designed
dirancang untuk memastikan para anggota memahami to ensure that members gain a thorough understanding
visi, misi, dan nilai-nilai Perseroan, serta memperoleh of the Company’s vision, mission, and values, as well as
wawasan menyeluruh terkait peran pengawasan comprehensive insight into their supervisory and advisory
dan pemberian nasihat yang melekat dalam jabatan roles. The materials presented include an overview of
mereka. Materi orientasi mencakup pemaparan the organizational structure, the code of ethics and
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
mengenai struktur organisasi, kode etik dan pedoman code of conduct, the working mechanisms of the Board
perilaku, mekanisme tata kerja Dewan Komisaris, hingga of Commissioners, and a strategic overview of the
gambaran strategis mengenai rencana bisnis dan Company’s business plan and key operational activities.
kegiatan operasional utama Perseroan. Hal ini bertujuan This initiative aims to strengthen the readiness of the
untuk memperkuat kesiapan Dewan Komisaris dalam Board of Commissioners to carry out its mandate in an
menjalankan mandatnya secara akuntabel dan selaras accountable manner and in compliance with applicable
dengan ketentuan peraturan perundang-undangan. laws and regulations.
Pada tahun 2025, penyelenggaraan program pengenalan In 2025, the orientation program for the Board of
bagi Dewan Komisaris kembali dilakukan menyusul Commissioners was conducted following changes in
perubahan susunan dan komposisi Dewan Komisaris the composition and structure of the Board based on the
berdasarkan Keputusan Rapat Umum Pemegang Saham Resolution of the Annual General Meeting of Shareholders
Tahunan untuk Persetujuan Laporan Tahunan Tahun for the Approval of the 2024 Annual Report (“AGMS 2024”)
2024 (“RUPST 2024”) tanggal 7 Mei 2025 sebagaimana dated May 7, 2025, as set forth in Deed of Minutes of the
tercantum pada Akta Risalah RUPST PT SMI (Persero) No. AGMS of PT SMI (Persero) No. 8 dated May 7, 2025, drawn
8 tanggal 7 Mei 2025 yang dibuat di hadapan Ashoya up before Ashoya Ratam, S.H., M.Kn., Notary in Jakarta.
Ratam, S.H, M.Kn, Notaris di Jakarta. Sesi orientasi tersebut The orientation session was held on May 20, 2025, at
dilaksanakan pada 20 Mei 2025 di Perseroan, yang the Company’s office and was attended by Mr. Andin
dihadiri oleh Bapak Andin Hadiyanto dan Bapak Askolani. Hadiyanto and Mr. Askolani.
438
Page 169
PENGEMBANGAN KOMPETENSI COMPETENCY DEVELOPMENT OF THE
DEWAN KOMISARIS TAHUN 2025 BOARD OF COMMISSIONERS IN 2025
Peningkatan kapasitas Dewan Komisaris terus Enhancing the capacity of the Board of Commissioners
diprioritaskan PT SMI guna memastikan efektivitas remains a priority for PT SMI to ensure effective supervision
pengawasan serta kualitas pemberian nasihat dalam and high-quality advisory functions in supporting prudent
mendukung pengelolaan perusahaan yang prudent. corporate management. In accordance with the Board
Mengacu pada ketentuan Board Manual, Perseroan Manual, the Company recognizes that relevant and up-
menilai bahwa kompetensi yang relevan dan terkini to-date competencies form a critical foundation for the
merupakan fondasi penting bagi Dewan Komisaris untuk Board of Commissioners to respond to industry dynamics,
merespons dinamika industri, perubahan regulasi, dan regulatory changes, and evolving business strategies.
perkembangan strategi bisnis.
Selaras dengan komitmen tersebut, Perseroan secara In line with this commitment, the Company continuously
berkelanjutan menyediakan akses bagi anggota provides access for members of the Board of
Dewan Komisaris untuk mengikuti berbagai program Commissioners to participate in various competency
pengembangan kompetensi, baik melalui pelatihan, development programs, including training, seminars,
seminar, workshop, maupun sertifikasi profesional. workshops, and professional certifications. Such
Fasilitasi ini disesuaikan dengan kebutuhan masing- facilitation is tailored to the needs of each member. As of
masing anggota. Sampai akhir 2025, program the end of 2025, the competency development programs
pengembangan kompetensi yang diikuti oleh Dewan attended by members of the Board of Commissioners
Komisaris antara lain. include the following:
Nama Jabatan Pelatihan Penyelenggara Tanggal
No Position Training Organizer Date
Name
Komisaris Sertifikasi Manajemen Risiko
Ancella
Independen (BSMR) Jenjang 5 Januari 2025
1 Anitawati PT Garda Multi Talenta
Independent Risk Management Certification January 2025
Hermawan
Commissioner (BSMR) Level 5
Komisaris Sertifikasi Manajemen Risiko
Arief Wibisono Independen (BSMR) Jenjang 5 Januari 2025
2 PT Garda Multi Talenta
Lubis Independent Risk Management Certification January 2025
Commissioner (BSMR) Level 5
Komisaris Sertifikasi Manajemen Risiko
Ancella
Independen (BSMR) Jenjang 6 Maret 2025
3 Anitawati PT Garda Multi Talenta
Independent Risk Management Certification March 2025
Hermawan
Commissioner (BSMR) Level 6
Komisaris Sertifikasi Manajemen Risiko
Arief Wibisono Independen (BSMR) Jenjang 6 Maret 2025
4 PT Garda Multi Talenta
Lubis Independent Risk Management Certification March 2025
Commissioner (BSMR) Level 6
Arief Wibisono Komisaris Masterclass Program Series Juli 2025
5 LSP Manajemen Risiko
Lubis Independen XXIV July 2025 PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Komisaris
Ancella Leading Successful Programs:
Independen 20 - 25 Juli 2025
6 Anitawati Using Evidence to Assess Harvard Kennedy School
Independent July 20 – 25, 2025
Hermawan Effectiveness
Commissioner
Komisaris 5 – 7 Agustus dan 11
Certification in Audit
Arief Wibisono Independen IKAI (Indonesian Institute of Agustus 2025
7 Committee Practices (CACP)
Lubis Independent Audit Committee) August 5 – 7, 2025
Batch 61
Commissioner and August 11, 2025
439
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05 Tata Kelola Perusahaan
Good Corporate Governance
Nama Jabatan Pelatihan Penyelenggara Tanggal
No Position Training Organizer Date
Name
1. Perkumpulan Profesional
Governansi Indonesia
(PaGI)
2. Perkumpulan Tatakelola
Manajemen Risiko dan
Kepatuhan (Asosiasi GRC)
3. IRMAPA
4. IcoPI
5. IPACA
1. Indonesian Governance
Professionals Association
Komisaris (Perkumpulan Profesional
GRC Summit (Resilience to
Independen Governansi Indonesia – 21 - 22 Agustus 2025
8 Dikdik Yustandi Sustainability: Leading Through
Independent PaGI) August 21 – 22, 2025
GRC in The Post-Digital Era)
Commissioner 2. Indonesian Governance,
Risk & Compliance
Association (Asosiasi GRC)
3. Indonesian Risk
Management Professional
Association (IRMAPA)
4. Institute of Compliance
Professional Indonesia
(IcoPI)
5. Indonesia Professional
in Audit and Control
Association (IPACA)
Komisaris Sertifikasi Manajemen Risiko
Arief Wibisono Independen (BSMR) Jenjang 7 Agustus 2025
9 PT Garda Multi Talenta
Lubis Independent Risk Management Certification August 2025
Commissioner (BSMR) Level 7
Komisaris Sertifikasi Manajemen Risiko
Ancella
Independen (BSMR) Jenjang 7 Agustus 2025
10 Anitawati PT Garda Multi Talenta
Independent Risk Management Certification August 2025
Hermawan
Commissioner (BSMR) Level 7
Komisaris 7 - 12 September
Arief Wibisono Independen 2025
11 Leadership Decision Making Harvard Kennedy School
Lubis Independent September 7 – 12,
Commissioner 2025
Komisaris 15 - 19 September
Independen Oxford Sustainable Business 2025
12 Dikdik Yustandi University of Oxford
Independent Programme September 15 – 19,
Commissioner 2025
Komisaris IAI (Ikatan Akuntansi
Ancella Sustainability Reporting: Impact
Independen Indonesia) – IKAI 30 September 2025
13 Anitawati & Implementation of PSPK 1 & 2
Independent Institute of Indonesia September 30, 2025
Hermawan for Professionals
Commissioner Chartered Accountants
Komisaris IAI (Ikatan Akuntansi
Sustainability Reporting: Impact
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Arief Wibisono Independen Indonesia) – IKAI 30 September 2025
14 & Implementation of PSPK 1 & 2
Lubis Independent Institute of Indonesia September 30, 2025
for Professionals
Commissioner Chartered Accountants
Workshop Penilaian Risk
Maturity Index ("RMI") PT Sarana
Direktorat Manajemen
Multi Infrastruktur (Persero) dan
Risiko PT SMI dan Tim
Peningkatan Manajemen Risiko
Komisaris PricewaterhouseCoopers
Berdasarkan Hasil Gap Analysis
Arief Wibisono Independen (“PwC”) 6 - 7 Oktober 2025
15 Workshop on the Assessment
Lubis Independent Directorate of Risk October 6 – 7, 2025
of the Risk Maturity Index (RMI)
Commissioner Management of PT SMI and
of PT Sarana Multi Infrastruktur
the PricewaterhouseCoopers
(Persero) and Enhancement
(“PwC”) Team
of Risk Management Based on
Gap Analysis Results
440
Page 171
Nama Jabatan Pelatihan Penyelenggara Tanggal
No Position Training Organizer Date
Name
Workshop Penilaian Risk
Maturity Index ("RMI") PT Sarana
Direktorat Manajemen
Multi Infrastruktur (Persero) dan
Risiko PT SMI dan Tim
Peningkatan Manajemen Risiko
Komisaris PricewaterhouseCoopers
Ancella Berdasarkan Hasil Gap Analysis
Independen (“PwC”) 6 - 7 Oktober 2025
16 Anitawati Workshop on the Assessment
Independent Directorate of Risk October 6 – 7, 2025
Hermawan of the Risk Maturity Index (RMI)
Commissioner Management of PT SMI and
of PT Sarana Multi Infrastruktur
the PricewaterhouseCoopers
(Persero) and Enhancement
(“PwC”) Team
of Risk Management Based on
Gap Analysis Results
Workshop Penilaian Risk
Maturity Index ("RMI") PT Sarana
Direktorat Manajemen
Multi Infrastruktur (Persero) dan
Risiko PT SMI dan Tim
Peningkatan Manajemen Risiko
PricewaterhouseCoopers
Komisaris Utama Berdasarkan Hasil Gap Analysis
Andin (“PwC”) 6 - 7 Oktober 2025
17 President Workshop on the Assessment
Hadiyanto Directorate of Risk October 6 – 7, 2025
Commissioner of the Risk Maturity Index (RMI)
Management of PT SMI and
of PT Sarana Multi Infrastruktur
the PricewaterhouseCoopers
(Persero) and Enhancement
(“PwC”) Team
of Risk Management Based on
Gap Analysis Results
Workshop Penilaian Risk
Maturity Index ("RMI") PT Sarana
Direktorat Manajemen
Multi Infrastruktur (Persero) dan
Risiko PT SMI dan Tim
Peningkatan Manajemen Risiko
Komisaris PricewaterhouseCoopers
Berdasarkan Hasil Gap Analysis
Independen (“PwC”) 6 - 7 Oktober 2025
18 Dikdik Yustandi Workshop on the Assessment
Independent Directorate of Risk October 6 – 7, 2025
of the Risk Maturity Index (RMI)
Commissioner Management of PT SMI and
of PT Sarana Multi Infrastruktur
the PricewaterhouseCoopers
(Persero) and Enhancement
(“PwC”) Team
of Risk Management Based on
Gap Analysis Results
Risk Beyond 2025 dengan
tema Risk Odyssey: Engineering
Komisaris Momentum, Building a Resilient
3 – 5 Desember 2025
Independen Risk DNA
20 Dikdik Yustandi ERMA December 3 – 5,
Independent Risk Beyond 2025 with
2025
Commissioner the theme “Risk Odyssey:
Engineering Momentum,
Building a Resilient Risk DNA.”
PELAKSANAAN TUGAS DEWAN IMPLEMENTATION OF DUTIES OF THE
KOMISARIS TAHUN 2025 BOARD OF COMMISSIONERS IN 2025
Dewan Komisaris menjalankan tugas pengawasan The Board of Commissioners carried out its supervisory
secara konsisten dan menyelesaikan sejumlah agenda duties consistently and completed several priority work
kerja prioritas yang telah ditetapkan. Program-program agendas that had been established. These programs PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
tersebut mencerminkan komitmen Dewan Komisaris reflect the Board of Commissioners’ commitment to
dalam memastikan tata kelola perusahaan berjalan ensuring the effective implementation of corporate
efektif sekaligus mendukung pencapaian sasaran governance while supporting the achievement of the
strategis Perseroan. Adapun capaian yang direalisasikan Company’s strategic objectives. The accomplishments
mencakup hal-hal berikut: realized include the following:
1. Melakukan evaluasi atas pelaksanaan mandat 1. Conduct evaluation of the implementation of the
Perseroan. Company's mandate.
2. Melakukan evaluasi atas kinerja Direksi secara 2. Conduct evaluation of the performance of each
individual dan pelaporan kepada Pemegang Saham. member of the Board of Directors individually and
report the results to the Shareholders.
3. Memberikan persetujuan/tanggapan/pendapat 3. Provide approval, feedback, or opinions on the
terhadap usulan RKAP Perseroan. Company's Draft Work Plan and Budget.
4. Memberikan persetujuan/tanggapan/pendapat 4. Provide approval, feedback, or opinions on the
terhadap Laporan Tahunan Perseroan. Company's Annual Report.
5. Melakukan rapat rutin bulanan Dewan Komisaris. 5. Hold regular monthly meetings of the Board of
Commissioners.
6. Melakukan pembahasan dan/atau telaah atas 6. Review and/or assess complaints related to the
pengaduan yang berkaitan dengan Perseroan yang Company received by the Board of Commissioners,
441
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05 Tata Kelola Perusahaan
Good Corporate Governance
diterima oleh Dewan Komisaris, serta melakukan as well as supervise the effectiveness of external and
pengawasan terhadap efektivitas pelaksanaan audit internal audits.
eksternal dan audit internal.
7. Melakukan pembahasan dan/atau telaah atas 7. Review and/or assess the Company's information
kebijakan sistem teknologi informasi Perseroan dan technology system policies and their implementation,
pelaksanaannya, kebijakan pengadaan barang dan procurement policies and their execution, the
jasa serta pelaksanaannya, kepatuhan Perseroan Company's compliance with applicable laws and
terhadap peraturan perundang-undangan yang regulations as well as agreements with third parties,
berlaku dan perjanjian dengan pihak ketiga, quality or service satisfaction policies and their
kebijakan mutu atau kepuasan pelayanan beserta implementation, and the policies and execution of
pelaksanaannya, serta kebijakan dan pelaksanaan subsidiary/affiliate management.
pengelolaan anak perusahaan/perusahaan asosiasi.
8. Melakukan pembahasan dan/atau telaah atas usulan 8. Perform review and/or assessment of the proposal
remunerasi Direksi dan Dewan Komisaris. for the remuneration of the Board of Directors and
the Board of Commissioners.
9. Memberikan tanggapan atas permohonan 9. Provide responses to requests for approval and/or
persetujuan dan/atau konsultasi Dewan Komisaris consultation from the Board of Commissioners based
berdasarkan permintaan Direksi. on requests from the Board of Directors.
10. Menyusun rencana kerja tahunan Dewan Komisaris 10. Develop the annual work plan of the Company's Board
Perseroan yang dituangkan dalam RKAP Dewan of Commissioners, which will be incorporated into the
Komisaris tahun 2026. Company’s 2026 Work Plan and Budget of the Board
of Commissioners.
11. Melakukan pengawasan dan pemberian nasihat 11. Supervise and provide advisory input on human
kebijakan pengelolaan sumber daya manusia, capital management policies, particularly regarding
khususnya terkait manajemen karier di Perseroan, career management within the Company, including
sistem dan prosedur promosi, mutasi dan demosi the system and procedures for promotions, transfers,
karier di Perseroan dan pelaksanaan kebijakan and demotions, as well as the implementation of
tersebut. these policies.
12. Melakukan pengawasan dan pemberian nasihat 12. Supervise and provide advisory input on the policies
terhadap kebijakan/rancangan Sistem Pengendalian and design of the Internal Control System and its
Internal dan pelaksanaannya. implementation.
13. Melakukan pengawasan dan pemberian nasihat 13. Supervise and provide advisory input on the
terhadap kebijakan dan pelaksanaan manajemen policies and implementation of the Company's risk
risiko Perseroan. management.
14. Melakukan pengawasan dan pemberian nasihat 14. Supervise and provide advisory input on accounting
terhadap kebijakan akuntansi dan penyusunan policies, financial statement preparation, and the
laporan keuangan serta penerapan kebijakan application of these policies.
tersebut.
15. Melakukan pembahasan atas penunjukkan calon 15. Conduct discussions on the appointment of
auditor sesuai dengan ketentuan Perseroan. prospective auditors in accordance with the
Company's regulations.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
16. Melakukan pelaporan kepada Pemegang Saham 16. Report to Shareholders in accordance with applicable
sesuai ketentuan yang berlaku. regulations.
17. Melakukan pemantauan terhadap penerapan prinsip- 17. Monitor the implementation of Good Corporate
prinsip Tata Kelola yang Baik dalam pelaksanaan Governance (GCG) principles in the Company's
kegiatan usaha Perseroan. business activities.
18. Melakukan pengawasan terhadap realisasi rencana 18. Supervise the realization of the Company's business
bisnis Perseroan, faktor yang mempengaruhi kinerja plan, assess factors affecting the Company's
Perseroan dan upaya memperbaiki kinerja Perseroan. performance, and oversee efforts to improve
performance.
19. Mengikuti program induksi, pelatihan, workshop dan/ 19. Participate in induction programs, training sessions,
atau seminar yang dapat meningkatkan produktivitas workshops, and/or seminars that enhance the
dan fungsi pengawasan Dewan Komisaris. productivity and oversight functions of the Board of
Commissioners.
20. Mengikuti kegiatan Perseroan. 20. Participate in the Company’s activities.
21. Melakukan penilaian terhadap kinerja Dewan 21. Conduct performance evaluations of the Board of
Komisaris. Commissioners.
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PENILAIAN KINERJA PERFORMANCE ASSESSMENT OF
DEWAN KOMISARIS THE BOARD OF COMMISSIONERS
PT SMI telah mengimplementasikan mekanisme penilaian PT SMI has implemented a collegial performance
kinerja Dewan Komisaris yang bersifat kolegial, mencakup evaluation mechanism for the Board of Commissioners,
evaluasi atas efektivitas pengawasan serta pemberian encompassing an assessment of the effectiveness of
nasihat kepada Direksi sepanjang tahun buku. Mekanisme its supervisory and advisory functions to the Board of
penilaian tersebut disusun berdasarkan acuan sebagai Directors throughout the fiscal year. The evaluation
berikut: mechanism is developed with reference to the following
guidelines:
1. Peraturan Menteri Keuangan No. 88 Tahun 2015 1. Regulation of the Minister of Finance No. 88 of 2015
tentang Penerapan Tata Kelola Perusahaan yang concerning the Implementation of Good Corporate
Baik pada Perusahaan Perseroan (Persero) di bawah Governance in Limited Liability Companies (Persero)
Pembinaan dan Pengawasan Menteri Keuangan; under the Supervision and Guidance of the Minister
of Finance;
2. Peraturan Menteri Keuangan No. 106/PMK.06/2017 2. Regulation of the Minister of Finance No. 106/
tentang Pengelolaan Kinerja Direksi dan Dewan PMK.06/2017 concerning Performance Management of
Komisaris pada Perusahaan Perseroan (Persero) the Board of Directors and the Board of Commissioners
di bawah Pembinaan dan Pengawasan Menteri of Limited Liability Companies under the Supervision
Keuangan; and Guidance of the Minister of Finance;
3. Keputusan Menteri Keuangan No. 505/KMK.06/2020 3. Decree of the Minister of Finance No. 505/KMK.06/2020
tentang Pedoman Penilaian dan Evaluasi Atas concerning Guidelines for Assessment and Evaluation
Penerapan Tata Kelola Perusahaan yang Baik Pada of the Implementation of Good Corporate Governance
Perusahaan Perseroan (Persero) di bawah Pembinaan in Limited Liability Companies under the Guidance
dan Pengawasan Menteri Keuangan; and Supervision of the Minister of Finance;
4. Anggaran Dasar Perseroan; 4. The Company’s Articles of Association;
5. Pedoman Kerja Dewan Komisaris, Dewan Pengawas 5. Work Guidelines of the Board of Commissioners, Sharia
Syariah dan Direksi (Board Manual); dan Supervisory Board, and the Board of Directors (Board
Manual); and
6. Pedoman GCG Perseroan. 6. The Company’s GCG Code.
Kriteria dan Prosedur Penilaian Kinerja Criteria and Procedures for the
Dewan Komisaris Performance Assessment of the Board of
Commissioners
Sebagai bentuk pelaksanaan hak dan kewenangan As part of the exercise of the Shareholder’s rights
Pemegang Saham, RUPS menetapkan mekanisme and authority, the General Meeting of Shareholders
pengukuran kinerja Dewan Komisaris melalui Indikator (GMS) determines the performance measurement
Kinerja Utama (IKU) yang tercantum dalam Kontrak mechanism for the Board of Commissioners through
Kinerja Dewan Komisaris. IKU tersebut diajukan oleh Key Performance Indicators (KPIs) as stipulated in the
Dewan Komisaris untuk mendapatkan persetujuan Board of Commissioners’ Performance Contract. These
RUPS, sebelum kemudian disahkan sebagai bagian KPIs are proposed by the Board of Commissioners for
dari RKAP Perseroan. Kontrak Kinerja Dewan Komisaris approval by the GMS and subsequently ratified as part of PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
yang berlaku saat ini merupakan dokumen terakhir yang the Company’s Annual Work Plan and Budget (RKAP). The
telah disetujui dan disahkan oleh RUPS pada tanggal 17 current Board of Commissioners’ Performance Contract
Desember 2024, yang kemudian dilakukan amandemen is the latest document approved and ratified by the GMS
dan pernyataan kembali melalui Surat No. S-48/SMI/ on December 17, 2024. It was subsequently amended
DK/0825 tanggal 20 Agustus 2025 perihal Permohonan and restated through Letter No. S-48/SMI/DK/0825 dated
Persetujuan Amandemen & Pernyataan Kembali Kontrak August 20, 2025, concerning the Request for Approval of the
Kinerja Dewan Komisaris PT Sarana Multi Infrastruktur Amendment and Restatement of the 2025 Performance
(Persero) Tahun 2025 dan telah memperoleh persetujuan Contract of the Board of Commissioners of PT Sarana Multi
oleh Pemegang Saham melalui Surat No. S-190/KN/2025 Infrastruktur (Persero), and has obtained approval from
tanggal 5 Oktober 2025 perihal tentang Tanggapan the Shareholder through Letter No. S-190/KN/2025 dated
atas Permohonan Revisi Rencana Kerja dan Pernyataan October 5, 2025, concerning the Response to the Request
Kembali Kontrak Kinerja Dewan Komisaris PT Sarana Multi for Revision of the Work Plan and Restatement of the 2025
Infrastruktur (Persero) Tahun 2025. Performance Contract of the Board of Commissioners of
PT Sarana Multi Infrastruktur (Persero).
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05 Tata Kelola Perusahaan
Good Corporate Governance
IKU Dewan Komisaris Perseroan terbagi dalam 3 (tiga) The KPIs of the Board of Commissioners are divided into
perspektif, antara lain: 3 (three) two perspectives:
1. Perspektif Pengawasan (bobot penilaian 60%) 1. Supervision (weight: 60%)
Perspektif Pengawasan diturunkan menjadi 3 (tiga) The Supervision is translated into 3 (three) strategic
sasaran strategis, yaitu: objectives:
a. Pengawasan, evaluasi dan penyampaian arahan a. Supervision, evaluation, and provision of direction
dan/atau pendapat kepada Direksi; and/or opinions to the Board of Directors;
b. Penerapan tata kelola perusahaan yang baik b. Implementation of Good Corporate Governance
dalam lingkup perusahaan; dan within the Company; and
c. Pelaksanaan tindak lanjut atas rekomendasi hasil c. Optimal follow-up on recommendations arising
pemeriksaan auditor internal maupun auditor from internal and external audit findings.
eksternal secara optimal.
2. Perspektif Pelaporan (bobot penilaian 30%) 2. Reporting Perspective (weight: 30%)
Perspektif Pelaporan diturunkan menjadi 2 (dua) The Reporting Perspective is translated into 2 (two)
sasaran strategis, yaitu: strategic objectives:
a. Penyampaian Rencana Kerja dan Anggaran a. Timely submission of the Company’s Work Plan
Perusahaan (RKAP), dan/atau penyesuaian RKAP and Budget (RKAP), and/or adjustments to the
dan Rencana Jangka Panjang Perseroan (RJPP) RKAP and the Company’s Long-Term Plan (RJPP);
yang tepat waktu; dan and
b. Penyampaian laporan kepada Pemegang Saham/ b. Submission of reports to the Shareholder/Regulator
Regulator sesuai ketentuan yang berlaku. in accordance with applicable regulations.
3. Perspektif Pertumbuhan dan Pembelajaran (bobot 3. Growth and Learning Perspective (weight: 10%)
penilaian 10%)
Perspektif Pertumbuhan dan Pembelajaran diturunkan The Growth and Learning Perspective is translated
menjadi 1 (satu) sasaran strategis, yaitu: into 1 (one) strategic objective:
a. Peningkatan kompetensi Dewan Komisaris. a. Enhancement of the competencies of the Board
of Commissioners.
Mekanisme penilaian kinerja Dewan Komisaris dijalankan The performance assessment mechanism of the Board
melalui tahapan berikut: of Commissioners is carried out through the following
stages:
Dewan Komisaris mengajukan
usulan Target Kinerja Utama dan Dewan Komisaris melakukan
Indikator Kinerja kepada Pemegang self-assessment menggunakan
Pemegang Saham memberikan
Saham sebagai Kontrak Kinerja indikator yaitu IKU yang telah
persetujuan Kontrak Kinerja
selama satu tahun buku. disepakati terhadap hasil
Dewan Komisaris.
The Board of Commissioners kinerja periode Berjalan.
Shareholders approved the
submitted the proposed Key The Board of Commissioners
Board of Commissioners’
Performance Targets and conducted self-assessment
Performance Contract.
Performance Indicators to using KPI indicators agreed on
shareholders as a Performance the current period performance.
Contract for one fiscal year.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Dewan Komisaris menyampaikan
Setiap triwulan Dewan Komisaris
laporan kinerja dan Di akhir tahun buku, laporan
wajib menyampaikan Laporan
pertanggungjawaban selama satu kinerja Dewan Komisaris
Perkembangan Realisasi
tahun buku kepada RUPS, dan RUPS diperiksa oleh auditor eksternal
Indikator Pencapaian Kinerja
memutuskan untuk menerima atau dan diberikan opini.
kepada pemegang saham.
menyampaikan penilaian. At the end of the fiscal year,
Every quarter, the Board of
The Board of Commissioners the Board of Commissioners’
Commissioners is required to
submitted performance and performance report is reviewed
submit a Progress Report on the
accountability report for one fiscal by external auditors and given
Realization of Key Performance
year to GMS, and GMS decided to an opinion.
Indicators to the shareholders.
accept or give the assessment.
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IKU DEWAN KOMISARIS DAN HASIL KPIS OF THE BOARD OF
PENCAPAIANNYA DI TAHUN 2025 COMMISSIONERS IN 2025
AND ITS ACHIEVEMENTS
Berikut uraian IKU dan hasil pencapaian IKU Perseroan The following outlines the Key Performance Indicators
sebagai dasar penilaian atas kinerja Dewan Komisaris (KPIs) and the Company’s achievement results, which
sepanjang tahun 2025: serve as the basis for assessing the performance of the
Board of Commissioners throughout 2025.
I – Perspektif Pengawasan (60%)
Supervision Perspective (60%)
Prognosa
Pencapaian
Target
Indikator Kinerja Kinerja
Sasaran Tahun
Utama Satuan Realisasi Tahun 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic Goals 2025
Indicator of 2025
Target
Performance
Achievements
Pelaksanaan Rapat
Dewan Komisaris untuk
pembahasan dan
reviu kinerja keuangan,
portofolio pembiayaan,
Pengawasan, risk management, good
Evaluasi dan corporate governance
Penyampaian Perseroan dan pemberian
Arahan dan/atau saran dan masukan Telah dilaksanakan 12 (dua
Pendapat kepada terhadap pembiayaan Risalah belas) kali Rapat Dewan
Direksi khusus. Rapat Komisaris Tercapai
I-1 12
Supervision, Conducting Board Minutes of A total of 12 (twelve) Board of Achieved
Evaluation, and of Commissioners Meeting Commissioners Meetings have
Provision of Meetings to discuss and been conducted.
Direction and/or review the Company's
Opinions to the financial performance,
Board of Directors financing portfolio, risk
management, and good
corporate governance, as
well as providing advice
and recommendations on
specific financing matters.
Pelaksanaan rapat
Telah dilaksanakan 14 (empat
Dewan Komisaris untuk
belas) kali Rapat Gabungan
pembahasan capaian
Dewan Komisaris dan Direksi
kinerja/RKAP Perseroan
untuk pembahasan capaian
(triwulanan). Risalah
kinerja/RKAP Perseroan.
Conducting Board Rapat Tercapai
4 A total of 14 (fourteen) Joint
of Commissioners' Minutes of Achieved
Meetings of the Board of
Meetings to discuss Meeting
Commissioners and the Board
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
the achievement of the
of Directors were conducted,
Company’s Work Plan
for discussion of performance
and Budget on a quarterly
achievement/RKAP.
basis.
445
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05 Tata Kelola Perusahaan
Good Corporate Governance
I – Perspektif Pengawasan (60%)
Supervision Perspective (60%)
Prognosa
Pencapaian
Target
Indikator Kinerja Kinerja
Sasaran Tahun
Utama Satuan Realisasi Tahun 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic Goals 2025
Indicator of 2025
Target
Performance
Achievements
Pengawasan dan/atau
pelaksanaan evaluasi telah
dilaksanakan melalui:
1. Surat Nomor S-06/SMI/
DK/0225 tanggal 11 Februari
Pengawasan dan/ 2025 perihal Laporan
atau pelaksanaan Pelaksanaan Tugas dan
evaluasi atas: (i) Tanggung Jawab Dewan
Pelaksanaan mandat Komisaris PT Sarana Multi
dalam pembiayaan dan Infrastruktur (Persero)
investasi, pengembangan Triwulan IV Tahun 2024.
proyek, dan jasa 2. Surat Nomor S-18/SMI/
konsultasi; (ii) Penugasan DK/0325 tanggal 14 Maret
dalam program 2025 tentang Laporan
Pemulihan Ekonomi Evaluasi Perkembangan
Nasional; (iii) Kinerja Pelaksanaan Mandat PT
keuangan Perseroan, Sarana Multi Infrastruktur
entitas anak (konsolidasi) (Persero) Tahun 2024.
; (iv) Pelaksanaan evaluasi 3. S-26/SMI/DK/0425 tanggal
laporan profil risiko dan 29 April 2025 tentang
penerapan manajemen Laporan Perkembangan
risiko Perseroan; (v) Realisasi Indikator
Persentase Tercapai
Pengawasan atas 100 Pencapaian Kinerja Dewan
Percentage Achieved
pelaksanaan tindak Komisaris Triwulan I Tahun
lanjut terhadap debitur 2025.
yang dalam perhatian 4. S-31/SMI/DK/0525 tanggal
(watch-listed debitur); 6 Mei 2025 tentang Laporan
(vi) Pengawasan dan/ Pelaksanaan Tugas dan
atau pelaksanaan Tanggung Jawab Dewan
evaluasi kebijakan dan Komisaris PT SMI Triwulan I
remunerasi Direksi serta Tahun 2025
pengelolaan sumber 5. Surat Nomor S-43/SMI/
daya manusia Perseroan; DK/0725 tanggal 31 Juli
dan (vii) Pelaksanaan 2025 perihal Laporan
kebijakan sistem teknologi Perkembangan Realisasi
perusahaan, kepatuhan Indikator Pencapaian Kinerja
Perseroan terhadap Dewan Komisaris Triwulan II
undang-undang yang Tahun 2025
berlaku dan perjanjian 6. Surat Nomor S-47/SMI/
dengan pihak ketiga. DK/0825 tanggal 15 Agustus
2025 perihal Laporan
Pelaksanaan Tugas dan
Tanggung Jawab Dewan
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Komisaris PT SMI Triwulan II
Tahun 2025
446
Page 177
I – Perspektif Pengawasan (60%)
Supervision Perspective (60%)
Prognosa
Pencapaian
Target
Indikator Kinerja Kinerja
Sasaran Tahun
Utama Satuan Realisasi Tahun 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic Goals 2025
Indicator of 2025
Target
Performance
Achievements
7. Surat Nomor S-54/
SMI/DK/0925 tanggal 5
September 2025 perihal
Laporan Pengawasan
Realisasi Pencapaian
Indikator Kinerja Utama
Direksi PT Sarana Multi
Infrastruktur (Persero)
Semester I Tahun 2025
8. Surat Nomor S-53/SMI/
DK/0825 tanggal 30 Agustus
2025 perihal Laporan
Pengawasan Dewan
Supervision and/or
Komisaris atas Pelaksanaan
evaluation of: (i) the
Rencana Kerja dan Anggaran
implementation of
Perusahaan PT Sarana
mandates in financing
Multi Infrastruktur (Persero)
and investment, project
Semester I Tahun 2025
development, and
9. Surat Nomor S-68/SMI/
advisory services; (ii)
DK/1025 tanggal 31 Oktober
assignments under
2025 perihal Laporan
the National Economic
Perkembangan Realisasi
Recovery program;
Indikator Pencapaian Kinerja
(iii) the Company’s
Dewan Komisaris Triwulan III
financial performance,
Tahun 2025
including subsidiaries
10. Surat Nomor S-68/SMI/
(consolidated); (iv)
DK/1125 tanggal 15 November
evaluation of risk
2025 perihal Laporan
profile reports and
Pelaksanaan Tugas dan
the implementation
Tanggung Jawab Dewan
of the Company’s risk
Komisaris PT Sarana Multi
management; (v)
Infrastruktur (Persero) TW III
supervision of follow-up
Tahun 2025
actions on debtors under
11. Pelaksanaan Rapat
watch-listed debtors;
Gabungan Dewan Komisaris
(vi) supervision and/
dan Direksi sebanyak 18
or evaluation of policies
(delapan belas) kali
and remuneration of the
Supervision and/or evaluation
Board of Directors as
activities were carried out
well as the management
through the following:
of the Company’s
1. Letter No. S-06/SMI/DK/0225
human resources; and
dated February 11, 2025,
(vii) implementation of
concerning the Report on
corporate technology
the Implementation of Duties
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
system policies,
and Responsibilities of the
compliance with
Board of Commissioners of
applicable laws and
PT Sarana Multi Infrastruktur
regulations, and
(Persero) for Q4 2024.
agreements with third
2. Letter No. S-18/SMI/DK/0325
parties.
dated March 14, 2025,
concerning the Evaluation
Report on the Progress of the
Implementation of PT Sarana
Multi Infrastruktur (Persero)’s
Mandate for 2024.
3. Letter No. S-26/SMI/DK/0425
dated April 29, 2025,
concerning the Progress
Report on the Realization of
the Board of Commissioners’
Key Performance Indicators
for Q1 2025.
447
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05 Tata Kelola Perusahaan
Good Corporate Governance
I – Perspektif Pengawasan (60%)
Supervision Perspective (60%)
Prognosa
Pencapaian
Target
Indikator Kinerja Kinerja
Sasaran Tahun
Utama Satuan Realisasi Tahun 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic Goals 2025
Indicator of 2025
Target
Performance
Achievements
4. Letter No. S-31/SMI/
DK/0525 dated May 6, 2025,
concerning the Report on
the Implementation of
Duties and Responsibilities
of the Board of
Commissioners of PT SMI for
Q1 2025.
5. Letter No. S-43/SMI/
DK/0725 dated July 31, 2025,
concerning the Progress
Report on the Realization of
the Board of Commissioners’
Key Performance Indicators
for Q2 2025.
6. Letter No. S-47/SMI/DK/0825
dated August 15, 2025,
concerning the Report on
the Implementation of
Duties and Responsibilities
of the Board of
Commissioners of PT SMI for
Q2 2025.
7. Letter No. S-54/SMI/DK/0925
dated September 5, 2025,
concerning the Supervisory
Report on the Realization of
the Board of Directors’ Key
Performance Indicators for
Semester I 2025.
8. Letter No. S-53/SMI/
DK/0825 dated August
30, 2025, concerning the
Supervisory Report of the
Board of Commissioners on
the Implementation of the
Company’s Work Plan and
Budget (RKAP) for Semester
I 2025.
9. Letter No. S-68/SMI/DK/1025
dated October 31, 2025,
cooncerning the Progress
Report on the Realization of
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
the Board of Commissioners’
Key Performance Indicators
for Q3 2025.
10. Letter No. S-68/SMI/DK/1125
dated November 15, 2025,
concerning the Report on
the Implementation of
Duties and Responsibilities
of the Board of
Commissioners of PT Sarana
Multi Infrastruktur (Persero)
for Q3 2025.
11. In addition, 18 (eighteen)
Joint Meetings of the Board
of Commissioners and the
Board of Directors were
conducted.
448
Page 179
I – Perspektif Pengawasan (60%)
Supervision Perspective (60%)
Prognosa
Pencapaian
Target
Indikator Kinerja Kinerja
Sasaran Tahun
Utama Satuan Realisasi Tahun 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic Goals 2025
Indicator of 2025
Target
Performance
Achievements
Telah dilaksanakan melalui
Surat Nomor S-02a/SMI/DK/1226
tanggal 15 Januari 2026 perihal
Pemantauan penerapan
Penerapan Tata Laporan Pemantauan Penerapan
prinsip-prinsip tata
Kelola Perusahaan Prinsip-Prinsip Tata Kelola yang
kelola yang baik dalam
yang Baik Baik PT Sarana Multi Infrastruktur
pelaksanaan kegiatan
dalam Lingkup (Persero) Tahun 2024.
usaha perusahaan.
Perusahaan Laporan Has been implemented in Tercapai
I-2 Monitoring the 1
Implementation of Report through the issuance of Letter Achieved
implementation n of good
Good Corporate No. S-02a/SMI/DK/ 1226 dated
corporate governance
Governance January 15, 2026, concerning
principles in the execution
(GCG) within the the Monitoring Report on the
of the Company’s business
Company Implementation of Good
activities.
Corporate Governance Principles
of PT Sarana Multi Infrastruktur
(Persero) for 2024.
Pengawasan atas pelaksanaan
tindak lanjut rekomendasi
hasil pemeriksaan oleh auditor
internal maupun auditor
eksternal, telah disampaikan
kepada Pemegang Saham
melalui:
1. S-31/SMI/DK/0525 tanggal
Pelaksanaan 6 Mei 2025 tentang Laporan
Tindak Lanjut atas Pelaksanaan Tugas dan
Rekomendasi Tanggung Jawab Dewan
Hasil Pemeriksaan Pengawasan atas Komisaris PT SMI Triwulan I
Auditor Internal pelaksanaan tindak Tahun 2025;
maupun Auditor lanjut rekomendasi hasil 2. Surat Nomor S-47/SMI/
Eksternal secara pemeriksaan oleh auditor DK/0825 tanggal 15 Agustus
optimal. internal maupun auditor 2025 perihal Laporan
The eksternal. Pelaksanaan Tugas dan
Frekuensi Tercapai
I-3 implementation Supervision of the 4 Tanggung Jawab Dewan
Frequency Achieved
of follow-up implementation of Komisaris PT SMI Triwulan II
actions on follow-up actions on Tahun 2025;
recommendations recommendations from 3. Surat Nomor S-68/SMI/
from the findings the findings of both DK/1025 tanggal 31 Oktober
of both internal internal auditors and 2025 perihal Laporan
auditors and external auditors. Perkembangan Realisasi
external auditors Indikator Pencapaian Kinerja
in an optimal Dewan Komisaris Triwulan III
manner. Tahun 2025; dan
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
4. Surat Nomor S-06/SMI/
DK/0225 tanggal 11 Februari
2025 perihal Laporan
Pelaksanaan Tugas dan
Tanggung Jawab Dewan
Komisaris PT Sarana Multi
Infrastruktur (Persero)
Triwulan IV Tahun 2024.
449
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05 Tata Kelola Perusahaan
Good Corporate Governance
I – Perspektif Pengawasan (60%)
Supervision Perspective (60%)
Prognosa
Pencapaian
Target
Indikator Kinerja Kinerja
Sasaran Tahun
Utama Satuan Realisasi Tahun 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic Goals 2025
Indicator of 2025
Target
Performance
Achievements
Supervision over the follow-
up implementation of audit
recommendations from
both internal and external
auditors has been reported to
the Shareholder through the
following:
1. S-31/SMI/DK/ 0525 dated
May 6, 2025, concerning
the Report on the
Implementation of Duties
and Responsibilities of the
Board of Commissioners of
PT SMI for Q1 2025;
2. Letter No. S-47/SMI/DK/0825
dated August 15, 2025
concerning the Report on
the Implementation of
Duties and Responsibilities
of the Board of
Commissioners of PT SMI for
Q2 2025;
3. Letter No. S-68/SMI/DK/1025
dated October 31, 2025
concerning the Report
on the Progress of the
Realization of the Board
of Commissioners’ Key
Performance Indicators for
Q3 2025; and
4. Letter No. S-06/SMI/DK/0225
dated February 11, 2025
concerning the Report on
the Implementation of
Duties and Responsibilities
of the Board of
Commissioners of PT Sarana
Multi Infrastruktur (Persero)
for Q4 2024.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
450
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II – Perspektif Pelaporan (30%)
Reporting Perspective (30%)
Prognosa
Pencapaian
Target
Indikator Kinerja Kinerja Tahun
Sasaran Tahun
Utama Satuan Realisasi 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic Goals 2025
Indicator of 2025
Target
Performance
Achievements
Penyampaian
Rencana Kerja dan Terlaksana melalui S-64/SMI/
Anggaran (RKA) DK/1025 tanggal 27 Oktober
Tahunan Dewan 2025 perihal Penyampaian Rencana
Penyampaian Komisaris yang Kerja dan Anggaran Dewan Komisaris
Rencana Kerja dan dimasukkan dalam serta Usulan Kontrak Kinerja Dewan
Anggaran Perseroan RKAP Perseroan. Komisaris PT Sarana Multi Infrastruktur
(RKAP) yang Tepat Submission of (Persero) Tahun 2026.
Laporan Tercapai
II-1 Waktu the Board of 1 Implemented through Letter No. S-64/
Report Achieved
Timely submission of Commissioners’ SMI/DK/1025 dated October 27, 2025
the Company’s Work Annual Work concerning the Submission of the
Plan and Budget Plan and Budget Board of Commissioners’ Work Plan
(RKAP) (RKA), which is and Budget as well as the Proposed
incorporated into Performance Contract of the Board
the Company’s of Commissioners of PT Sarana Multi
Annual Work Plan Infrastruktur (Persero) for 2026.
and Budget (RKAP).
Penyampaian
hasil Penelaahan
dan Persetujuan
atas RKAP dan/
Terlaksana melalui S-67/SMI/DK/1025
atau jika terdapat
tanggal 31 Oktober 2025 perihal
perubahan RKAP
Tanggapan Dewan Komisaris atas
dan RJPP pada
Rancangan Rencana Kerja dan
periode berjalan.
Anggaran Perusahaan (“RKAP”)
Submission of the
Tahun 2026 PT Sarana Multi
results of the review Laporan Tercapai
1 Infrastruktur (Persero).
and approval of the Report Achieved
Implemented through Letter No. S-67/
Company’s Work
SMI/DK/1025 dated October 31, 2025
Plan and Budget
concerning the Response of the Board
(RKAP) and/or any
of Commissioners to the Draft Work
amendments to
Plan and Budget (“RKAP”) for 2026 of
the RKAP and the
PT Sarana Multi Infrastruktur (Persero).
Company’s Long-
Term Plan (RJPP)
during the current
period.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
451
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05 Tata Kelola Perusahaan
Good Corporate Governance
II – Perspektif Pelaporan (30%)
Reporting Perspective (30%)
Prognosa
Pencapaian
Target
Indikator Kinerja Kinerja Tahun
Sasaran Tahun
Utama Satuan Realisasi 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic Goals 2025
Indicator of 2025
Target
Performance
Achievements
Laporan Pelaksanaan Tugas dan
Tanggung Jawab Dewan Komisaris
(triwulanan) telah disampaikan
kepada Pemegang Saham sebanyak
4 (empat) kali, yaitu:
1. S-31/SMI/DK/0525 tanggal
6 Mei 2025 tentang Laporan
Pelaksanaan Tugas dan
Tanggung Jawab Dewan
Komisaris PT SMI Triwulan I Tahun
2025;
2. Surat Nomor S-47/SMI/DK/0825
tanggal 15 Agustus 2025 perihal
Laporan Pelaksanaan Tugas
dan Tanggung Jawab Dewan
Komisaris PT SMI Triwulan II Tahun
2025;
3. Surat Nomor S-68/SMI/DK/1125
tanggal 15 November 2025
perihal Laporan Pelaksanaan
Tugas dan Tanggung Jawab
Dewan Komisaris PT Sarana
Multi Infrastruktur (Persero) TW III
Tahun 2025; dan
4. Surat Nomor S-06/SMI/DK/0225
Penyampaian
tanggal 11 Februari 2025 perihal
laporan
Laporan Pelaksanaan Tugas
Penyampaian pelaksanaan
dan Tanggung Jawab Dewan
Laporan kepada tugas dan
Komisaris PT Sarana Multi
Pemegang Saham tanggung jawab
Infrastruktur (Persero) Triwulan IV
sesuai Ketentuan Dewan Komisaris
Tahun 2024.
yang Berlaku. (triwulanan). Laporan Tercapai
II-2 4 The Report on the Implementation
Submission of reports Submission of Report Achieved
of Duties and Responsibilities
to the Shareholder quarterly reports on
of the Board of Commissioners
in accordance the implementation
(quarterly) has been submitted to the
with applicable of the duties and
Shareholder 4 (four) times, as follows:
regulations. responsibilities
1. S-31/SMI/DK/0525 dated May 6,
of the Board of
2025, concerning the Report on
Commissioners.
the Implementation of Duties and
Responsibilities of the Board of
Commissioners of PT SMI for Q1
2025;
2. Letter No. S-47/SMI/DK/0825
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
dated August 15, 2025, concerning
the Report on the Implementation
of Duties and Responsibilities of
the Board of Commissioners of PT
SMI for Q2 2025;
3. Letter No. S-68/SMI/DK/1125 dated
November 15, 2025, concerning
the Report on the Implementation
of Duties and Responsibilities
of the Board of Commissioners
of PT Sarana Multi Infrastruktur
(Persero) for Q3 2025; and
4. Letter No. S-06/SMI/DK/0225
dated February 11, 2025,
concerning the Report on the
Implementation of Duties and
Responsibilities of the Board of
Commissioners of PT Sarana
Multi Infrastruktur (Persero) for
Q4 2024.
452
Page 183
II – Perspektif Pelaporan (30%)
Reporting Perspective (30%)
Prognosa
Pencapaian
Target
Indikator Kinerja Kinerja Tahun
Sasaran Tahun
Utama Satuan Realisasi 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic Goals 2025
Indicator of 2025
Target
Performance
Achievements
Laporan Capaian Kinerja Dewan
Komisaris (triwulanan) telah
disampaikan kepada Pemegang
Saham sebanyak 4 (empat) kali,
yaitu:
1. S-26/SMI/DK/0425 tanggal 29
April 2025 tentang Laporan
Perkembangan Realisasi Indikator
Pencapaian Kinerja Dewan
Komisaris Triwulan I Tahun 2025;
2. Surat Nomor S-43/SMI/DK/0725
tanggal 31 Juli 2025 perihal
Laporan Perkembangan Realisasi
Indikator Pencapaian Kinerja
Dewan Komisaris Triwulan II
Tahun 2025;
3. Surat Nomor S-68/SMI/DK/1025
tanggal 31 Oktober 2025 perihal
Laporan Perkembangan Realisasi
Indikator Pencapaian Kinerja
Dewan Komisaris Triwulan III
Tahun 2025; dan
Penyampaian 4. S-05/SMI/DK/0125 tanggal 30
laporan capaian Januari 2025 tentang Laporan
kinerja Dewan Perkembangan Realisasi Indikator
Komisaris Pencapaian Kinerja Dewan
(triwulanan) Komisaris Triwulan IV Tahun 2024.
Laporan Tercapai
Submission of 4 The Performance Achievement
Report Achieved
the Performance Report of the Board of Commissioners
Achievement (quarterly) has been submitted to the
Report of the Board Shareholder 4 (four) times, as follows:
of Commissioners 1. S-26/SMI/DK/0425 dated April 29,
(quarterly). 2025, concerning the Progress
Report on the Realization of the
Board of Commissioners’ Key
Performance Indicators for Q1
2025;
2. Letter No. S-43/SMI/DK/0725
dated July 31, 2025, concerning
the Progress Report on the
Realization of the Board of
Commissioners’ Key Performance
Indicators for Q2 2025;
3. Letter No. S-68/SMI/DK/1025
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
dated October 31, 2025,
concerning the Progress Report
on the Realization of the Board of
Commissioners’ Key Performance
Indicators for Q3 2025; and
4. S-05/SMI/DK/0125 dated January
30, 2025, concerning the Progress
Report on the Realization of the
Board of Commissioners’ Key
Performance Indicators for Q4
2024.
453
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05 Tata Kelola Perusahaan
Good Corporate Governance
II – Perspektif Pelaporan (30%)
Reporting Perspective (30%)
Prognosa
Pencapaian
Target
Indikator Kinerja Kinerja Tahun
Sasaran Tahun
Utama Satuan Realisasi 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic Goals 2025
Indicator of 2025
Target
Performance
Achievements
Laporan Pengawasan
Pelaksanaan RKAP dan Tindak
Lanjut Arahan Pemegang Saham
(Semesteran) telah disampaikan
kepada Pemegang Saham
sebanyak 2 (dua) kali, yaitu:
1. Surat Nomor S-14/SMI/DK/0225
tanggal 26 Februari 2025 perihal
Laporan Pengawasan Dewan
Komisaris atas Pelaksanaan
Rencana Kerja dan Anggaran
Perusahaan PT Sarana Multi
Infrastruktur (Persero) Semester II
Tahun 2024; dan
Penyampaian
2. Surat Nomor S-53/SMI/DK/0825
laporan
tanggal 30 Agustus 2025 perihal
pengawasan
Laporan Pengawasan Dewan
atas pelaksanaan
Komisaris atas Pelaksanaan
RKAP dan tindak
Rencana Kerja dan Anggaran
lanjut arahan
Perusahaan PT Sarana Multi
Pemegang Saham
Infrastruktur (Persero) Semester I
(semesteran).
Tahun 2025.
Submission of
Laporan The Supervisory Report on the Tercapai
the supervisory 2
Report Implementation of the Company’s Achieved
report on the
Work Plan and Budget (RKAP) and
implementation
the Follow-up on the Shareholder’s
of the Company’s
Directives (semi-annual) has been
Work Plan and
submitted to the Shareholder twice (2
Budget (RKAP) and
times), namely:
the follow-up on
1. Letter No. S-14/SMI/DK/0225 dated
the Shareholder’s
February 26, 2025 concerning
directives (semi-
the Supervisory Report of the
annual).
Board of Commissioners on the
Implementation of the Work
Plan and Corporate Budget of
PT Sarana Multi Infrastruktur
(Persero) for Semester II of 2024;
and
2. Letter No. S-53/SMI/DK/0825
dated August 30, 2025 concerning
the Supervisory Report of the
Board of Commissioners on the
Implementation of the Work
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Plan and Corporate Budget of
PT Sarana Multi Infrastruktur
(Persero) for Semester I of 2025.
Telah dilaksanakan melalui Surat
Nomor S-18/SMI/DK/0325 tanggal 14
Penyampaian
Maret 2025 tentang Laporan Evaluasi
laporan
Perkembangan Pelaksanaan Mandat
perkembangan
PT Sarana Multi Infrastruktur (Persero)
pelaksanaan
Tahun 2024.
mandat
The report on the progress of the
Perusahaan. Laporan Tercapai
1 implementation of the Company’s
Submission of Report Achieved
mandate was submitted through
the report on the
Letter No. S-18/SMI/DK/0325 dated
progress of the
March 14, 2025, concerning the
implementation
Evaluation Report on the Progress of
of the Company’s
the Implementation of the Mandate of
mandate.
PT Sarana Multi Infrastruktur (Persero)
for 2024.
454
Page 185
II – Perspektif Pelaporan (30%)
Reporting Perspective (30%)
Prognosa
Pencapaian
Target
Indikator Kinerja Kinerja Tahun
Sasaran Tahun
Utama Satuan Realisasi 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic Goals 2025
Indicator of 2025
Target
Performance
Achievements
Laporan Pengawasan Realisasi
Rencana Bisnis Kepada Otoritas Jasa
Keuangan telah disampaikan kepada
Otoritas Jasa Keuangan sebanyak 2
(dua) kali, yaitu:
1. Surat Nomor S-03/SMI/DK/0125
tanggal 30 Januari 2025 tentang
Laporan Pengawasan Rencana
Bisnis PT Sarana Multi Infrastruktur
(Persero) Semester II Tahun 2024;
dan
Penyampaian
2. Surat Nomor S-41/SMI/DK/0725
laporan
tanggal 30 Juli 2025 tentang
pengawasan
Laporan Pengawasan Realisasi
realisasi rencana
Rencana Bisnis PT Sarana Multi
bisnis kepada
Infrastruktur (Persero) Semester I
Otoritas Jasa
Laporan Tahun 2025. Tercapai
Keuangan. 2
Report The Supervisory Report on the Achieved
Submission of
Business Plan Realization to the
the supervisory
Financial Services Authority has been
realization report on
submitted to the Financial Services
the business plan
Authority twice (2 times), namely:
to the Financial
1. Letter No. S-03/SMI/DK/0125 dated
Services Authority.
January 30, 2025, concerning
the Supervisory Report on the
Business Plan of PT Sarana
Multi Infrastruktur (Persero) for
Semester II 2024; and
2. Letter No. S-41/SMI/DK/0725
dated July 30, 2025, concerning
the Supervisory Report on the
Realization of the Business Plan
of PT Sarana Multi Infrastruktur
(Persero) for Semester I 2025.
Telah dilaksanakan dan disampaikan
kepada Pemegang Saham melalui:
1. Surat Nomor S-09/SMI/DK/0225
tanggal 19 Februari 2025 perihal
Laporan Pengawasan Realisasi
Pencapaian Indikator Kinerja
Utama Direksi PT SMI Semester II
Tahun 2024; dan
Penyampaian 2. Surat Nomor S-54/SMI/DK/0925
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
laporan tanggal 5 September 2025
pengawasan perihal Laporan Pengawasan
realisasi indikator Realisasi Pencapaian Indikator
pencapaian Kinerja Utama Direksi Semester I
kinerja Direksi Tahun 2025.
(semesteran). It has been implemented and
Laporan Tercapai
Submission of 2 submitted to the Shareholder through
Report Achieved
the supervisory the following:
report on the 1. Letter No. S-09/SMI/DK/0225
realization of the dated February 19, 2025,
Board of Directors’ concerning the Supervisory
Key Performance Report on the Realization of
Indicators (semi- the Board of Directors’ Key
annual). Performance Indicators of PT SMI
for Semester II 2024; and
2. Letter No. S-54/SMI/DK/0925
dated September 5, 2025,
concerning the Supervisory
Report on the Realization of
the Board of Directors’ Key
Performance Indicators for
Semester I 2025.
455
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05 Tata Kelola Perusahaan
Good Corporate Governance
III – Perspektif Pertumbuhan dan Pembelajaran (10%)
Growth and Learning Perspective (10%)
Prognosa
Pencapaian
Target
Sasaran Indikator Kinerja Kinerja Tahun
Tahun
Utama Satuan Realisasi 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic 2025
Goals Indicator of 2025
Target
Performance
Achievements
Pelatihan atau seminar atau conference yang
diikuti oleh Dewan Komisaris dan Organ Dewan
Komisaris adalah sebagai berikut:
1. Sertifikasi Manajemen Risiko (BSMR) Jenjang
5, diselenggarakan oleh PT Garda Multi
Talenta pada Januari 2025;
2. Sertifikasi Manajemen Risiko (BSMR) Jenjang
6, diselenggarakan oleh PT Garda Multi
Talenta pada Maret 2025;
3. Masterclass Program Series XXIV – 3 & 4 Juli
2025;
4. Leading Successful Programs: Using Evidence
to Assess Effectiveness, diselenggarakan oleh
Harvard Kennedy School pada tanggal 20 -
25 Juli 2025;
5. Certification in Audit Committee Practices
(CACP) Batch 61, diselenggarakan oleh IKAI
(Indonesian Institute of Audit Committee)
pada tanggal 5 – 7 Agustus dan 11 Agustus
2025;
6. GRC Summit (Resilience to Sustainability:
Leading Through GRC in The Post-Digital
Era); diselenggarakan oleh Perkumpulan
Jumlah pelatihan Profesional Governansi Indonesia (PaGI),
Laporan
atau seminar atau Perkumpulan Tatakelola Manajemen Risiko
Peningkatan pelatihan
conference yang dan Kepatuhan (Asosiasi GRC), IRMAPA, IcoPI,
Kompetensi atau
III-1 dihadiri Dewan 4 dan IPACA pada tanggal 21 - 22 Agustus Tercapai
Dewan seminar
Komisaris atau 2025;
Komisaris atau
Organ Dewan 7. Sertifikasi Manajemen Risiko (BSMR) Jenjang
conference
Komisaris 7, diselenggarakan oleh PT Garda Multi
Talenta pada Agustus 2025;
8. Leadership Decision Making, diselenggarakan
oleh Harvard Kennedy School pada tanggal
7 - 12 September 2025;
9. Oxford Sustainable Business Programme,
diselenggarakan oleh University of Oxford
pada tanggal 15 - 19 September 2025;
10. Sustainability Reporting: Impact &
Implementation of PSPK 1 & 2 for Professionals,
diselenggarakan oleh IAI (Ikatan Akuntansi
Indonesia) – IKAI pada tanggal 30 September
2025;
11. Workshop Penilaian Risk Maturity Index ("RMI")
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
PT Sarana Multi Infrastruktur (Persero) dan
Peningkatan Manajemen Risiko Berdasarkan
Hasil Gap Analysis, diselenggarakan oleh
Direktorat Manajemen Risiko PT SMI dan
Tim PricewaterhouseCoopers (“PwC”) pada
tanggal 6 - 7 Oktober 2025; dan
12. Risk Beyond 2025 dengan tema Risk Odyssey:
Engineering Momentum, Building a Resilient
Risk DNA, diselenggarakan oleh ERMA pada
tanggal 3 – 5 Desember 2025.
456
Page 187
III – Perspektif Pertumbuhan dan Pembelajaran (10%)
Growth and Learning Perspective (10%)
Prognosa
Pencapaian
Target
Sasaran Indikator Kinerja Kinerja Tahun
Tahun
Utama Satuan Realisasi 2025
No. Strategis Key Performance
2025
Unit Realization Prognosis
Strategic 2025
Goals Indicator of 2025
Target
Performance
Achievements
The training programs, seminars, and
conferences attended by the Board of
Commissioners and its supporting organs are as
follows:
1. Risk Management Certification (BSMR)
Level 5, organized by PT Garda Multi Talenta,
January 2025.
2. Risk Management Certification (BSMR) Level
6, organized by PT Garda Multi Talenta, March
2025.
3. Masterclass Program Series XXIV – July 3–4,
2025;
4. Leading Successful Programs: Using Evidence
to Assess Effectiveness, organized by Harvard
Kennedy School, July 20–25, 2025.
5. Certification in Audit Committee Practices
(CACP) Batch 61, organized by IKAI
(Indonesian Institute of Audit Committee),
August 5–7 and August 11, 2025.
6. GRC Summit (Resilience to Sustainability:
Leading Through GRC in the Post-Digital Era),
Number of training organized by the Indonesian Governance
programs, seminars, Professionals Association (PaGI), the
Competency or conferences Training, Indonesian Governance, Risk & Compliance
Development attended by seminar, or Association (Asosiasi GRC), IRMAPA, IcoPI, and
Achieved
of the Board of the Board of conference IPACA, August 21–22, 2025.
Commissioners Commissioners reports 7. Risk Management Certification (BSMR)
or its supporting Level 7, organized by PT Garda Multi Talenta,
organs August 2025.
8. Leadership Decision Making, organized by
Harvard Kennedy School, September 7–12,
2025.
9. Oxford Sustainable Business Programme,
organized by the University of Oxford,
September 15–19, 2025.
10. Sustainability Reporting: Impact &
Implementation of PSPK 1 & 2 for Professionals,
organized by IAI (Indonesian Institute of
Accountants) – IKAI, September 30, 2025.
11. Workshop on the Assessment of the Risk
Maturity Index (RMI) of PT Sarana Multi
Infrastruktur (Persero) and Enhancement of
Risk Management Based on Gap Analysis
Results, organized by the Directorate
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
of Risk Management of PT SMI and the
PricewaterhouseCoopers (“PwC”) Team,
October 6–7, 2025.
12. Risk Beyond 2025: Risk Odyssey – Engineering
Momentum, Building a Resilient Risk DNA,
organized by ERMA, December 3–5, 2025.
PENILAIAN KINERJA KOMITE DI PERFORMANCE ASSESSMENT
BAWAH DEWAN KOMISARIS OF COMMITTEES UNDER THE
BOARD OF COMMISSIONERS
Untuk memastikan efektivitas fungsi pengawasan, Dewan To ensure the effectiveness of its supervisory function, the
Komisaris memperoleh dukungan dari Komite-Komite Board of Commissioners is supported by Committees under
di Bawah Dewan Komisaris, yaitu Komite Audit, Komite the Board of Commissioners, namely the Audit Committee,
Pemantau Risiko, serta Komite Nominasi dan Remunerasi. the Risk Monitoring Committee, and the Nomination and
Ketiga komite tersebut berperan sebagai organ pendukung Remuneration Committee. These three committees act as
yang membantu Dewan Komisaris menjalankan tugas supporting organs that assist the Board of Commissioners
pengawasan secara lebih terstruktur dan komprehensif. in carrying out its oversight duties in a more structured and
comprehensive manner.
457
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05 Tata Kelola Perusahaan
Good Corporate Governance
Sebagai bentuk penguatan tata kelola, Dewan Komisaris As part of strengthening governance, the Board of
menetapkan kriteria penilaian serta melakukan penilaian Commissioners establishes evaluation criteria and conducts
berkala terhadap kinerja masing-masing komite selama periodic performance assessments of each committee
tahun buku berjalan. Proses evaluasi ini bertujuan untuk throughout the fiscal year. This evaluation process aims to
memastikan bahwa setiap komite menjalankan tugasnya ensure that each committee performs its duties optimally,
secara optimal, selaras dengan kebijakan pengawasan in alignment with the established supervisory policies, and
yang ditetapkan, dan memberikan kontribusi nyata provides meaningful contributions to improving the quality
terhadap peningkatan kualitas pengelolaan Perseroan. of the Company’s management. Through this mechanism,
Dengan demikian, Dewan Komisaris juga dapat the Board of Commissioners is also able to carry out its
menjalankan perannya secara lebih efektif dan efisien role more effectively and efficiently, thereby reinforcing the
sehingga fungsi pengawasan Perseroan semakin kokoh Company’s supervisory function in responding to evolving
dan mampu menjawab dinamika bisnis yang berkembang. business dynamics.
Prosedur dan Kriteria Penilaian Dewan Procedures and Criteria for the Board of
Komisaris terhadap Komite Audit Commissioners’ Performance Asessment
of the Audit Committee
Melalui evaluasi yang dilakukan secara berkala, Dewan Through periodic evaluations, the Board of Commissioners
Komisaris menilai kinerja Komite Audit berdasarkan laporan assesses the performance of the Audit Committee based on
pelaksanaan tugas dan aktivitas komite sepanjang tahun reports of the committee’s duties and activities throughout
buku. Penilaian tersebut mengacu pada sejumlah kriteria the fiscal year. The assessment refers to several key criteria,
utama, antara lain: including:
1. Pelaksanaan tinjauan laporan keuangan secara berkala; 1. Periodic review of financial statements;
2. Pelaksanaan rapat minimal satu bulan sekali dengan 2. Implementation of meetings at least once a month with
Divisi Audit Internal; the Internal Audit Division;
3. Pemantauan atas laporan hasil evaluasi Badan 3. Monitoring of the evaluation report of the Supreme
Pemeriksa Keuangan atas Kantor Akuntan Publik Grant Audit Agency (BPK) on the Public Accounting Firm Grant
Thornton; Thornton;
4. Pengawasan pelaksanaan audit keuangan historis 4. Oversight of the implementation of the Company’s
Perseroan oleh Kantor Akuntan Publik; historical financial audit conducted by the Public
Accounting Firm;
5. Pemantauan efektivitas tata kelola Perusahaan; 5. Monitoring of the effectiveness of the Company’s
governance;
6. Pengendalian risiko dan sistem pengendalian internal 6. Oversight of risk management, internal control systems,
dan kepatuhan; and compliance;
7. Pemantauan tindak lanjut temuan audit eksternal; 7. Monitoring of the follow-up actions on external audit
findings;
8. Pelaksanaan site visit; dan 8. Implementation of site visits; and
9. Peningkatan kompetensi melalui berbagai seminar 9. Competency development through various seminars
dan training. and training programs.
Berdasarkan evaluasi kinerja tahun 2025, Dewan Komisaris Based on the 2025 performance evaluation, the Board
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
memberikan penilaian bahwa pelaksanaan tugas Komite of Commissioners concluded that the Audit Committee
Audit telah sesuai dengan standar yang dipersyaratkan has carried out its duties in accordance with the required
dan telah bekerja secara efektif. standards and has performed effectively.
Prosedur dan Kriteria Penilaian Dewan Procedures and Criteria for the Board of
Komisaris terhadap Komite Pemantau Commissioners’ Performance Asessment
Risiko of the the Risk Monitoring Committee
Penilaian terhadap kinerja Komite Pemantau Risiko The performance assessment of the Risk Monitoring
dilaksanakan oleh Dewan Komisaris melalui telaah atas Committee is conducted by the Board of Commissioners
laporan pelaksanaan tugas dan kegiatan komite sepanjang through a review of the committee’s reports on the
tahun buku. Beberapa kriteria yang menjadi acuan evaluasi implementation of its duties and activities throughout
mencakup, antara lain : the fiscal year. The evaluation is based on several criteria,
including:
1. Melakukan pemantauan profil risiko dan implementasi 1. Monitoring the Company’s risk profile and the
Risk Appetite Statement (RAS) Perseroan; implementation of the Risk Appetite Statement (RAS);
2. Kinerja keuangan; 2. Financial performance;
3. Portofolio pembiayaan; 3. Financing portfolio;
4. Implementasi Manajemen Risiko dan Tata Kelola 4. Implementation of Risk Management and Corporate
Perseroan; Governance;
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5. Pelaksanaan rapat secara berkala untuk membahas 5. Implementation of regular meetings to discuss various
berbagai isu-isu strategis; strategic issues;
6. Memberikan Informasi highlight portofolio pembiayaan 6. Provision of key information on the financing portfolio
dan debitur yang memerlukan perhatian/watchlist; and identifying debtors requiring attention/watchlist;
7. Melakukan penelaahan untuk rencana pembiayaan 7. Review of the Company's financing plans that require
Perseroan yang membutuhkan konsultasi dengan consultation with the Board of Commissioners;
Dewan Komisaris;
8. Penelaahan laporan-laporan internal Perseroan; dan 8. Review of the Company's internal reports; and
9. Pelaksanaan capacity building dan site visit. 9. Implementation of capacity-building initiatives and
site visits.
Sepanjang tahun 2025, Dewan Komisaris menyimpulkan Throughout 2025, the Board of Commissioners concluded
bahwa Komite Pemantau Risiko telah menjalankan tugas that the Risk Monitoring Committee carried out its duties
dan tanggung jawabnya secara efektif serta memenuhi and responsibilities effectively and met the established
kriteria kinerja yang telah ditetapkan. performance criteria.
Prosedur dan Kriteria Penilaian Dewan Procedures and Criteria for the Board of
Komisaris terhadap Komite Nominasi dan Commissioners’ Performance Asessment
Remunerasi of the the Nomination and Remuneration
Committee
Penilaian atas kinerja Komite Nominasi dan Remunerasi The performance assessment of the Nomination and
dilaksanakan oleh Dewan Komisaris melalui evaluasi Remuneration Committee is conducted by the Board of
terhadap laporan pelaksanaan tugas dan kegiatan komite Commissioners through an evaluation of the committee’s
sepanjang tahun buku. Evaluasi tersebut mengacu pada reports on the implementation of its duties and activities
sejumlah kriteria yang telah ditetapkan untuk memastikan throughout the fiscal year. The evaluation refers to a set
fungsi nominasi dan remunerasi dijalankan sesuai prinsip of established criteria to ensure that the nomination and
tata kelola perusahaan yang baik. Adapun kriteria penilaian remuneration functions are carried out in accordance
meliputi: with the principles of Good Corporate Governance. The
assessment criteria include:
1. Penyusunan Rencana Kerja dan Anggaran Komite 1. Preparation of the Work Plan and Budget for the
Nominasi dan Remunerasi; Nomination and Remuneration Committee;
2. Pengawasan Pengadaan Konsultan Executive Survey; 2. Supervision on the Procurement for Executive Survey
Consultant;
3. Membantu Dewan Komisaris dalam proses nominasi 3. Assistance to the Board of Commissioners in the
calon Direktur dari Internal Perseroan; nomination process for internal candidates for the
Board of Directors;
4. Pengajuan usulan remunerasi Dewan Komisaris, Direksi, 4. Submission of remuneration proposals for the Board of
dan Organ Dewan Komisaris; Commissioners, Board of Directors, and other Board of
Commissioners’ organs;
5. Memberikan rekomendasi kepada Dewan Komisaris 5. Provision of recommendations to the Board of
mengenai kelayakan struktur organisasi Perseroan dan Commissioners regarding the appropriateness of the
pay and benefit Perseroan; dan Company's organizational structure and pay and benefit PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
policies; and
6. Pelaporan realisasi dan IKU Individual Direksi PT SMI. 6. Reporting on the realization and Individual Key
Performance Indicators (IKU) of the Board of Directors
of PT SMI.
Dewan Komisaris memberikan evaluasi bahwa Komite In The Board of Commissioners concluded that the
Nominasi dan Remunerasi telah menjalankan tugas Nomination and Remuneration Committee has carried
pengawasan serta fungsi-fungsi strategis di tahun out its supervisory duties and strategic functions in 2025
2025 secara selaras dengan kriteria kinerja yang telah in alignment with the established performance criteria.
ditetapkan.
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05 Tata Kelola Perusahaan
Good Corporate Governance
KOMISARIS INDEPENDEN
INDEPENDENT COMMISSIONER
Untuk memperkuat tata kelola dan memastikan bahwa To strengthen corporate governance and ensure
fungsi pengawasan berjalan secara efektif, Perseroan that the supervisory function operates effectively, the
menetapkan penunjukan Komisaris Independen Company appoints Independent Commissioners as an
sebagai bagian penting dari struktur Dewan Komisaris. integral part of the Board of Commissioners structure.
Keberadaan Komisaris Independen berperan dalam The presence of Independent Commissioners plays a
menjaga objektivitas, akuntabilitas, transparansi, serta key role in safeguarding objectivity, accountability, and
memastikan proses pengambilan keputusan berjalan transparency, as well as ensuring that decision-making
adil dan bertanggung jawab bagi pemegang saham processes are conducted fairly and responsibly in the
maupun pemangku kepentingan lainnya. best interests of shareholders and other stakeholders.
Perseroan memiliki 3 (tiga) orang Komisaris Independen, The Company has 3 (three) Independent Commissioners,
yang sekaligus telah memenuhi ketentuan minimum thereby fulfilling the minimum composition requirement
komposisi, yaitu sedikitnya 30% dari total anggota of at least 30% of the total members of the Board of
Dewan Komisaris. Komisaris Independen yang telah Commissioners. An Independent Commissioner who
menyelesaikan 1 (satu) periode masa jabatan dapat has completed 1 (one) term of office may be reappointed
diangkat kembali untuk periode berikutnya, selama yang for a subsequent term, provided that he or she submits
bersangkutan menyampaikan komitmen untuk tetap a commitment to maintain independence before the
menjaga independensinya di hadapan RUPS. Susunan General Meeting of Shareholders (GMS). The composition
Komisaris Independen Perseroan pada tahun 2025 of the Company’s Independent Commissioners in 2025
adalah sebagai berikut: is as follows:
Nama Periode Masa Jabatan
Name Period Term of Office
5 Juli 2024 – 5 Juli 2029
Ancella Anitawati Hermawan 1
July 5, 2024 – July 5, 2029
5 Juli 2024 – 5 Juli 2029
Dikdik Yustandi 1
July 5, 2024 – July 5, 2029
5 Juli 2024 – 5 Juli 2029
Arief Wibisono Lubis 1
July 5, 2024 – July 5, 2029
KRITERIA KOMISARIS INDEPENDEN CRITERIA FOR INDEPENDENT
COMMISSIONERS
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Pemenuhan kriteria atau persyaratan sebagai Komisaris The fulfilment of the criteria and requirements to serve
Independen di Perseroan didasarkan pada ketentuan as an Independent Commissioner in the Company is
keanggotaan Dewan Komisaris yang diperkaya dengan based on the general eligibility provisions applicable to
unsur independensi sebagaimana dipersyaratkan dalam members of the Board of Commissioners, complemented
regulasi yang berlaku. Landasan hukum dan ketentuan by specific independence requirements as mandated
yang menjadi acuan dalam menetapkan kualifikasi under prevailing regulations. The legal basis and
Komisaris Independen mencakup antara lain: regulatory framework used as references in determining
the qualifications of Independent Commissioners include,
among others:
1. Undang-Undang No. 40 Tahun 2007 tentang Perseroan 1. Law No. 40 of 2007 concerning Limited Liability
Terbatas; Companies
2. POJK No. 33/POJK.04/2014 tentang Direksi dan Dewan 2. Regulation of Financial Services Authority (POJK)
Komisaris Emiten atau Perusahaan Publik; No. 33/POJK.04/2014 concerning Board of Directors
and Board of Commissioners of Issuers or Public
Companies
3. Peraturan Menteri Keuangan Republik Indonesia 3. Regulation of the Minister of Finance No. 88/
No. 88/PMK.06/2015 tentang Penerapan Tata Kelola PMK.06/2015 concerning the Implementation of Good
Perusahaan yang Baik pada Perusahaan Perseroan Corporate in Limited Liability Companies (Persero)
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(Persero) di bawah Pembinaan dan Pengawasan under the Guidance and Supervision of the Minister
Menteri Keuangan; of Finance;
4. Peraturan Menteri Keuangan Republik Indonesia No. 4. Regulation of the Minister of Finance No. 197/
197/PMK.06/2019 tentang Tata Cara Pengangkatan PMK.06/2019 concerning Procedures for Appointment
dan Pemberhentian Anggota Dewan Komisaris and Dismissal of Members of the Board of
Perusahaan Perseroan (Persero) di bawah Pembinaan Commissioners of Limited Liability Companies
dan Pengawasan Menteri Keuangan; (Persero) under the Guidance and Supervision of the
Minister of Finance
5. Peraturan Otoritas Jasa Keuangan No. 16 Tahun 2024 5. Regulation of Financial Services Authority No. 16 of 2024
tentang Pengawasan PT Sarana Multi Infrastruktur concerning Supervision of PT Sarana Multi Infrastruktur
(Persero); dan (Persero); and
6. Anggaran Dasar Perseroan. 6. The Company’s Articles of Association
Pemenuhan kriteria independensi oleh para Komisaris The fulfillment of the independence criteria by the
Independen Perseroan sepanjang tahun 2025 disajikan Company’s Independent Commissioners throughout
sebagai berikut: 2025 is presented as follows:
Kriteria dan Aspek Independensi Ancella Dikdik Arief Wibisono
Criteria and Independence Aspect Anitawati Yustandi Lubis
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 Perusahaan pada periode berikutnya.
V V V
The individual must not have worked for or held authority and responsibility for
planning, leading, controlling, or supervising the Company's activities within
the last six (6) months, except in the case of reappointment as an Independent
Commissioner for the next term.
Tidak mempunyai saham baik langsung maupun tidak langsung pada Perusahaan.
V V V
The individual must not own shares, either directly or indirectly, in the Company.
Tidak mempunyai hubungan afiliasi dengan Perseroan, anggota Dewan Komisaris,
anggota Direksi, atau pemegang saham.
V V V
The individual must not have any affiliations with the Company, members of the
Board of Commissioners, members of the Board of Directors, or shareholders.
Tidak pernah menjadi anggota Direksi dan/atau anggota Dewan Komisaris yang
selama menjabat:
1. Tidak pernah menyelenggarakan RUPS tahunan.
2. Pertanggungjawabannya sebagai anggota Direksi dan/atau anggota Dewan
Komisaris pernah tidak diterima oleh RUPS atau pernah tidak memberikan
pertanggungjawaban sebagai anggota Direksi dan/atau anggota Dewan
Komisaris kepada RUPS.
3. Pernah menyebabkan perusahaan yang memperoleh izin, persetujuan,
atau pendaftaran dari Otoritas Jasa Keuangan tidak memenuhi kewajiban
menyampaikan laporan tahunan dan/atau laporan keuangan kepada Otoritas V V V
Jasa Keuangan.
The individual must not have previously served as a member of the Board of
Directors and/or Board of Commissioners who:
1. Had never held annual GMS meeting
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
2. Had their accountability as a Board member rejected by the AGMS or failed to
provide accountability to the AGMS.
3. Caused a company under their leadership, which was licensed, approved, or
registered with the Financial Services Authority (OJK), to fail in submitting annual
reports and/or financial statements to the Financial Services Authority.
Tidak mempunyai hubungan usaha baik langsung maupun tidak langsung yang
berkaitan dengan kegiatan usaha Perseroan.
V V V
The individual must not have any direct or indirect business relations related to the
Company's activities.
Tidak merangkap jabatan pada perusahaan pembiayaan infrastruktur lain dan/atau
pada perusahaan yang bergerak dalam proyek infrastruktur.
V V V
The individual must not hold concurrent positions in other infrastructure financing
companies and/or companies involved in infrastructure projects.
Keterangan | Notes
V: Terpenuhi Fulfilled
X: Tidak Terpenuhi Not Fulfilled
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05 Tata Kelola Perusahaan
Good Corporate Governance
PERNYATAAN INDEPENDENSI STATEMENT OF INDEPENDENCE
Penegasan komitmen Perseroan terhadap praktik tata The Company’s commitment to good governance
kelola yang baik tercermin melalui pengaturan yang practices is reflected in the clear provisions governing
jelas mengenai independensi dan profesionalisme the independence and professionalism of the Board of
Dewan Komisaris, yang dituangkan dalam Anggaran Commissioners, as stipulated in the Articles of Association
Dasar serta Board Manual. Selain itu, Peraturan Menteri and the Board Manual. In addition, the Regulation of the
Keuangan No. 88/PMK.06/2015 turut juga mengatur Minister of Finance No. 88/PMK.06/2015 stipulates that
bahwa Dewan Komisaris dilarang melakukan tindakan members of the Board of Commissioners are prohibited
yang mempunyai benturan kepentingan dan mengambil from engaging in actions that create conflicts of interest
keuntungan pribadi dari pengambilan keputusan dan/ or from deriving personal benefit from decision-making
atau pelaksanaan kegiatan Persero yang bersangkutan, and/or the implementation of the Company’s activities,
selain penghasilan yang sah. other than lawful remuneration.
Ketentuan tersebut menetapkan bahwa setiap anggota These provisions require each member of the Board of
Dewan Komisaris wajib menjaga independensi dari Commissioners to maintain independence from any form
pengaruh atau tekanan pihak mana pun, termasuk bebas of influence or pressure, including being free from familial
dari hubungan keluarga dengan anggota Direksi ataupun relationships with members of the Board of Directors
Dewan Komisaris lainnya. Independensi juga harus or other members of the Board of Commissioners.
terjaga dari keputusan bisnis maupun pelaksanaan aksi Independence must also be preserved in relation to
korporasi. Untuk memperkuat komitmen tersebut, Dewan business decisions and the execution of corporate
Komisaris diwajibkan menandatangani Pakta Integritas actions. To reinforce this commitment, members of the
yang diperbarui setiap tahun sebagai pernyataan untuk Board of Commissioners are required to sign an Integrity
menjunjung tinggi kejujuran, integritas, dan kepatuhan Pact, which is renewed annually as a formal declaration
terhadap seluruh ketentuan perundang-undangan yang of their commitment to uphold honesty, integrity, and
relevan dalam menjalankan wewenang dan tanggung compliance with all relevant laws and regulations in
jawabnya. carrying out their authority and responsibilities.
Jakarta, Januari 2025
Jakarta, January 2025
Ancella Anitawati Hermawan
Komisaris Independen
Independent Commissioner
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Jakarta, Januari 2025
Jakarta, January 2025
Dikdik Yustandi Arief Wibisono Lubis
Komisaris Independen Komisaris Independen
Independent Commissioner Independent Commissioner
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DEWAN PENGAWAS SYARIAH
SHARIA SUPERVISORY BOARD
FUNGSI DEWAN FUNCTION OF SHARIA
PENGAWAS SYARIAH SUPERVISORY BOARD
PT SMI, sebagai badan usaha yang mengelola unit usaha PT SMI, as a company that manages a sharia business unit
syariah melalui Divisi Usaha Syariah (DUS), membentuk through its Sharia Business Division (SBU), established a
Dewan Pengawas Syariah (DPS) pada tahun 2016. Sharia Supervisory Board (SSB) in 2016. The establishment
Pembentukan DPS tersebut merujuk pada ketentuan Pasal of the SSB is in accordance with Article 109 of Law No.
109 Undang-Undang No. 40 Tahun 2007 tentang Perseroan 40 of 2007 concerning Limited Liability Companies, in
Terbatas juncto ketentuan Pasal 9 dan 16 serta Peraturan conjunction with Articles 9 and 16, and Regulation of
Otoritas Jasa Keuangan No. 16 Tahun 2024 mengenai Financial Services Authority No. 16 of 2024 concerning
Pengawasan PT Sarana Multi Infrastruktur (Persero). the Supervision of PT Sarana Multi Infrastruktur (Persero).
Selanjutnya, sesuai dengan ketentuan Pasal 16A ayat (6) Under the provisions of Article 16 A, paragraph (6) of the
Anggaran Dasar Perseroan, DPS menjalankan sejumlah Company’s Articles of Association, the SSB has several
fungsi utama, antara lain: functions, including:
1. Sebagai pengawas, penasihat dan pemberi saran 1. As supervisor, advisor, and advice provider to the
kepada Direksi Perseroan mengenai hal-hal yang Company's Board of Directors on matters relating to
berkaitan dengan operasional kegiatan usaha syariah the Company's sharia business activities operation,
Perseroan, agar berjalan sesuai Prinsip Syariah so that they run in accordance with Sharia Principles
dengan tetap memperhatikan ketentuan Fatwa while still paying attention to the provisions of Fatwa of
Dewan Syariah Nasional-Majelis Ulama Indonesia the National Sharia Board of Indonesian Ulama Council
dan Peraturan Otoritas Jasa Keuangan. and Regulations of the Financial Services Authority.
2. Sebagai mediator antara Perseroan dengan Dewan 2. As a mediator between the Company and the
Syariah Nasional-Majelis Ulama Indonesia dalam National Sharia Board of Indonesian Ulama Council
mengkomunikasikan usul dan saran pengembangan in communicating proposals and suggestions for the
produk dan jasa Perseroan yang memerlukan kajian development of the Company's products and services
atau fatwa Dewan Syariah Nasional-Majelis Ulama which require study or fatwa from the National Sharia
Indonesia. Board of Indonesian Ulama Council.
3. Sebagai perwakilan Dewan Syariah Nasional-Majelis 3. As a representative of the National Sharia Board of
Ulama Indonesia yang ditempatkan di Perseroan. Indonesian Ulama Council stationed at the Company.
SUSUNAN DEWAN COMPOSITION OF THE SHARIA
PENGAWAS SYARIAH SUPERVISORY BOARD PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Susunan Dewan Pengawas Syariah Perseroan diatur As stipulated in Article 16 A of the Company's Articles of
dalam ketentuan Pasal 16A Anggaran Dasar, yang Association, the composition of the Sharia Supervisory
menetapkan komposisi keanggotaan sebagai berikut: Board (SSB) is structured as follows:
1. Dewan Pengawas Syariah terdiri atas 1 (satu) orang 1. The Sharia Supervisory Board consists of 1 (one)
anggota atau lebih. member or more.
2. Dewan Pengawas Syariah yang terdiri atas lebih 2. The Sharia Supervisory Board, which consists of more
dari 1 (satu) orang anggota merupakan majelis dan than 1 (one) member, is an assembly and each
setiap anggota Dewan Pengawas Syariah tidak dapat member of the Sharia Supervisory Board cannot act
bertindak sendiri-sendiri melainkan berdasarkan independently but rather based on the decision of
keputusan Dewan Pengawas Syariah. the Sharia Supervisory Board.
3. Dalam hal Dewan Pengawas Syariah terdiri dari lebih 3. In the event that the Sharia Supervisory Board consists
dari 1 (satu) orang anggota, maka salah seorang of more than 1 (one) member, one of the Sharia
Dewan Pengawas Syariah diangkat sebagai Ketua Supervisory Board members is appointed as the Chair
Dewan Pengawas Syariah. of the Sharia Supervisory Board.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Struktur Dewan Pengawas Syariah Perseroan per 31 As of 31 December 2025, the composition of the Sharia
Desember 2025 tercatat sebagai berikut: Supervisory Board is as follows:
Nama Jabatan Periode Jabatan Dasar Pengangkatan
Name Position Term of Office Basis of Appointment
Akta Keputusan RUPS tentang Perubahan Dewan Komisaris dan
Dewan Pengawas Syariah sebagaimana termaktub dalam Akta
Nomor 35 tanggal 22 Mei 2025 yang dibuat oleh dan dihadapan
Ashoya Ratam, SH.,M.Kn., Notaris di Jakarta Selatan, yang telah
mendapatkan Bukti Penerimaan Laporan Perubahan Data Perseroan
PT Sarana Multi Infrastruktur (Persero) sebagaimana termuat dalam
Ketua Dewan
Periode I: 2020-2025 Berita Penerimaan Kementerian Hukum Republik Indonesia Nomor
Pengawas Syariah
Periode II: 2025-2029 AHU-AH.01.09-0265059 tanggal 26 Mei 2025.
Kanny Hidaya Chairman of the
Period I: 2020-2025 Deed of the Resolution of the General Meeting of Shareholders
Sharia Supervisory
Period II: 2025-2029 concerning Changes in the Board of Commissioners and the Sharia
Board
Supervisory Board as stipulated in Deed No. 35 dated May 22, 2025,
drawn up by and before Ashoya Ratam, S.H., M.Kn., Notary in South
Jakarta, which has obtained the Receipt of Notification of Changes to
Company Data of PT Sarana Multi Infrastruktur (Persero) as stated in
the Acknowledgement Letter of the Ministry of Law of the Republic of
Indonesia No. AHU-AH.01.09-0265059 dated May 26, 2025.
Akta Keputusan RUPS tentang Perubahan Dewan Komisaris dan
Dewan Pengawas Syariah sebagaimana termaktub dalam Akta
Nomor 35 tanggal 22 Mei 2025 yang dibuat oleh dan dihadapan
Ashoya Ratam, SH.,M.Kn., Notaris di Jakarta Selatan, yang telah
mendapatkan Bukti Penerimaan Laporan Perubahan Data Perseroan
PT Sarana Multi Infrastruktur (Persero) sebagaimana termuat dalam
Anggota Dewan
Berita Penerimaan Kementerian Hukum Republik Indonesia Nomor
Pengawas Syariah
Muhammad AHU-AH.01.09-0265059 tanggal 26 Mei 2025.
Member of the 2025-2029
Faishol Deed of the Resolution of the General Meeting of Shareholders
Sharia Supervisory
concerning Changes in the Board of Commissioners and the Sharia
Board
Supervisory Board as stipulated in Deed No. 35 dated May 22, 2025,
drawn up by and before Ashoya Ratam, S.H., M.Kn., Notary in South
Jakarta, which has obtained the Receipt of Notification of Changes to
Company Data of PT Sarana Multi Infrastruktur (Persero) as stated in
the Acknowledgement Letter of the Ministry of Law of the Republic of
Indonesia No. AHU-AH.01.09-0265059 dated May 26, 2025.
Informasi lengkap mengenai profil setiap anggota Dewan Complete information on the profile of each member of
Pengawas Syariah disajikan pada Bab Profil Perusahaan the Sharia Supervisory Board is presented in the Company
dalam Laporan Tahunan ini. Profile chapter of this Annual Report.
TUGAS DAN TANGGUNG JAWAB DUTIES AND RESPONSIBILITIES OF
DEWAN PENGAWAS SYARIAH SHARIA SUPERVISORY BOARD
Dewan Pengawas Syariah memiliki tugas, tanggung The Sharia Supervisory Board has the duties,
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
jawab, dan wewenang yang tercantum dalam Pasal 16 responsibilities, and authorities as stipulated in Article
C ayat (1) Anggaran Dasar Perseroan serta dijabarkan 16C paragraph (1) of the Company’s Articles of Association
lebih lanjut dalam Pedoman Kerja Dewan Komisaris, and is further elaborated in the Work Guidelines of the
Dewan Pengawas Syariah dan Direksi (Board Manual), Board of Commissioners, the Sharia Supervisory Board,
yang mencakup hal-hal berikut: and the Board of Directors (Board Manual), which include
the following:
1. Memberikan nasihat dan saran kepada Direksi dan 1. Providing advice and recommendation to the Board
Dewan Komisaris mengenai hal-hal yang berkaitan of Directors and the Board of Commissioners on
dengan Prinsip Syariah dalam pelaksanaan kegiatan things related to Sharia Principles in carrying out the
usaha syariah Perseroan; Company’s sharia business;
2. Mengawasi pemenuhan penerapan Prinsip Syariah 2. Supervising the fulfillment of Sharia Principles
dalam kegiatan usaha Perseroan; implementation in the Company’s business;
3. Melakukan penelaahan secara berkala atas 3. Conducting periodic review on the implementation
penerapan Prinsip Syariah kegiatan usaha Perseroan; of Sharia Principles in carrying out the Company’s
business;
4. Menjaga kerahasiaan dokumen, data, dan informasi 4. Maintaining the confidentiality of documents, data,
Perseroan yang diawasi dan diberi nasihat; and information of the Company being supervised
and given advice to;
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5. Mendampingi Perseroan atau mewakili Perseroan 5. Accompanying the Company or representing the
dalam berdiskusi dengan DSN-MUI; dan Company in discussions with the National Sharia
Board-Indonesian Ulama Council; and
6. Memberikan pernyataan kesesuaian syariah terhadap 6. Providing statement of sharia compliance with sharia
prinsip syariah atas produk atau jasa syariah principles on the Company’s sharia products and
Perseroan. services.
PELAKSANAAN DAN AGENDA IMPLEMENTATION AND AGENDA
RAPAT DEWAN PENGAWAS OF SHARIA SUPERVISORY
SYARIAH TAHUN 2025 BOARD MEETINGS IN 2025
Ruang komunikasi dan koordinasi antara DPS, manajemen, Communication and coordination among the Sharia
serta insan syariah Perseroan terus dijaga melalui Supervisory Board (SSB), management, and the
berbagai forum dialog yang bersifat rutin dan konstruktif. Company’s sharia personnel are continuously maintained
Melalui komunikasi tersebut, DPS memastikan setiap through various regular and constructive dialogue forums.
arah kebijakan dan rencana operasional kegiatan usaha Through such engagement, the SSB ensures that all
syariah senantiasa berada dalam koridor prinsip-prinsip policy directions and operational plans of the sharia
syariah serta mendukung pencapaian strategi bisnis business activities remain aligned with sharia principles
Perseroan. Pendekatan ini juga memungkinkan identifikasi and support the achievement of the Company’s overall
dini terhadap tantangan yang muncul sepanjang tahun, business strategy. This approach also enables the early
sehingga DPS dapat memberikan arahan strategis yang identification of challenges arising throughout the year,
relevan untuk menjaga keberlanjutan dan kontribusi allowing the SSB to provide relevant strategic guidance
positif kegiatan usaha syariah sesuai amanat Pemegang to safeguard the sustainability and positive contribution
Saham. of sharia business activities in line with the Shareholder’s
mandate.
Pada tahun 2025, DPS telah menyelenggarakan 27 (dua In 2025, the SSB conducted 27 (twenty-seven) Sharia
puluh tujuh) kali Rapat Konsultasi Dewan Pengawas Supervisory Board Consultation Meetings. Details of
Syariah. Rincian pelaksanaan dan tingkat kehadiran the implementation and attendance rate at these
dalam Rapat Konsultasi DPS tersebut disajikan sebagai Consultation Meetings are presented as follows:
berikut:
Tanggal Agenda Peserta Rapat
No.
Date Agenda Meeting Participants
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Konsultasi atas Skema Pembiayaan
4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
khususnya Tranche 2 (Pembelian Alat
5. Divisi Hukum (DH)
Kesehatan Baru) Kepada Universitas Gajah
6. Divisi Kepatuhan (DK)
07 Februari 2025 Mada
1. 1. Sharia Supervisory Board
February 7, 2025 Consultation on the Financing Scheme,
2. Sharia Business Division
particularly Tranche 2 (Procurement of
3. Financing and Investment Evaluation Division
New Medical Equipment) for Gadjah Mada
4. Environmental, Social and Technical Evaluation
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
University
Division
5. Legal Division
6. Compliance Division
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Konsultasi Usulan Pemberian Fasilitas
5. Divisi Hukum (DH)
Pembiayaan Syariah kepada PT Pelabuhan
6. Divisi Kepatuhan (DK)
27 Februari 2025 Patimban Internasional (”PPI”);
2. 1. Sharia Supervisory Board
February 27, 2025 Consultation on the Proposal for the Provision
2. Sharia Business Division
of Sharia Financing Facilities to PT Pelabuhan
3. Financing and Investment Evaluation Division
Patimban Internasional (“PPI”)
4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
465
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tanggal Agenda Peserta Rapat
No.
Date Agenda Meeting Participants
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Lanjutan Rapat Konsultasi DPS – Usulan
4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Pemberian Fasilitas Pembiayaan Syariah
5. Divisi Hukum (DH)
kepada PT Pelabuhan Patimban Internasional
6. Divisi Kepatuhan (DK)
04 Maret 2025 (”PPI”);
3. 1. Sharia Supervisory Board
March 4, 2025 Continuation of the Sharia Supervisory Board
2. Sharia Business Division
Consultation Meeting – Proposal for the
3. Financing and Investment Evaluation Division
Provision of Sharia Financing Facilities to PT
4. Environmental, Social and Technical Evaluation
Pelabuhan Patimban Internasional (“PPI”)
Division
5. Legal Division
6. Compliance Division
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Konsultasi DPS – Usulan Pemberian Fasilitas 4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Pembiayaan Syariah kepada PT Intaran Enam 5. Divisi Hukum (DH)
Belas Gemilang (RS Inmedika) 6. Divisi Kepatuhan (DK)
07 Maret 2025
4. Sharia Supervisory Board Consultation – 1. Sharia Supervisory Board
March 7, 2025
Proposal for the Provision of Sharia Financing 2. Sharia Business Division
Facilities to PT Intaran Enam Belas Gemilang 3. Financing and Investment Evaluation Division
(RS Inmedika) 4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Konsultasi DPS – Usulan Perpanjangan 4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Fasilitas Pembiayaan Non Cash kepada PT 5. Divisi Hukum (DH)
Armada Gema Nusantara (AGN) 6. Divisi Kepatuhan (DK)
21 Maret 2025
5. Sharia Supervisory Board Consultation – 1. Sharia Supervisory Board
March 21, 2025
Proposal for the Extension of Non-Cash 2. Sharia Business Division
Financing Facilities to PT Armada Gema 3. Financing and Investment Evaluation Division
Nusantara (AGN) 4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Rapat Konsultasi DPS Bulan April 2025
4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
: Update Perkembangan Penanganan
5. Divisi Hukum (DH)
Nasabah Pembiayaan Syariah dalam Status
6. Divisi Kepatuhan (DK)
22 April 2025 Bermasalah
6. 1. Sharia Supervisory Board
April 22, 2025 Sharia Supervisory Board Consultation
2. Sharia Business Division
Meeting – April 2025: Update on the Progress
3. Financing and Investment Evaluation Division
of Handling Sharia Financing Customers with
4. Environmental, Social and Technical Evaluation
Non-Performing Status
Division
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
5. Legal Division
6. Compliance Division
1. Dewan Komisaris
2. DPS
3. Direksi
4. Divisi Usaha Syariah (DUS)
5. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
6. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
7. Divisi Hukum (DH)
Konsultasi Gabungan DPS, Dekom dan Direksi
8. Divisi Keuangan & Hubungan Investor (DKHI)
terkait Rencana Pembiayaan kepada PT AGN
9. Divisi Kepatuhan (DK)
30 April 2025 Joint Consultation of the Sharia Supervisory
7. 1. Board of Commissioners
April 30, 2025 Board, Board of Commissioners, and Board of
2. Sharia Supervisory Board
Directors regarding the Planned Financing to
3. Board of Directors
PT AGN
4. Sharia Business Division
5. Financing and Investment Evaluation Division
6. Environmental, Social and Technical Evaluation
Division
7. Legal Division
8. Finance and Investor Relations Division
9. Compliance Division
466
Page 197
Tanggal Agenda Peserta Rapat
No.
Date Agenda Meeting Participants
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Konsultasi DPS – Usulan Pemberian Fasilitas 4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Pembiayaan Syariah kepada PT Citra Marga 5. Divisi Hukum (DH)
Nusaphala Persada, Tbk (PT CMNP) 6. Divisi Kepatuhan (DK)
23 Mei 2025
8. Sharia Supervisory Board Consultation – 1. Sharia Supervisory Board
May 23, 2025
Proposal for the Provision of Sharia Financing 2. Sharia Business Division
Facilities to PT Citra Marga Nusaphala 3. Financing and Investment Evaluation Division
Persada Tbk (PT CMNP) 4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Konsultasi DPS – Usulan Pemberian Fasilitas 4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Pembiayaan Syariah kepada PT Fajar Mitra 5. Divisi Hukum (DH)
Krida Abadi (“FAMIKA”) 6. Divisi Kepatuhan (DK)
10 Juni 2025
9. Sharia Supervisory Board Consultation – 1. Sharia Supervisory Board
June 10, 2025
Proposal for the Provision of Sharia Financing 2. Sharia Business Division
Facilities to PT Fajar Mitra Krida Abadi 3. Financing and Investment Evaluation Division
(“FAMIKA”) 4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Konsultasi DPS – Usulan Tambahan Fasilitas 4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Pembiayaan Investasi Kepada PT Jasamarga 5. Divisi Hukum (DH)
JalanLayang Cikampek (“JJC”) 6. Divisi Kepatuhan (DK)
12 Juni 2025
10. Sharia Supervisory Board Consultation – 1. Sharia Supervisory Board
June 12, 2025
Proposal for Additional Investment Financing 2. Sharia Business Division
Facilities to PT Jasamarga Jalan Layang 3. Financing and Investment Evaluation Division
Cikampek (“JJC”) 4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
1. DPS
2. Divisi Usaha Syariah (DUS)
Konsultasi DPS – Usulan Pemberian Fasilitas 3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Pembiayaan dengan Skema Musyarakah 4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Kepada PT Medco Power Indonesia (“MPI” 5. Divisi Hukum (DH)
atau “Nasabah”) 6. Divisi Kepatuhan (DK)
17 Juni 2025
11. Sharia Supervisory Board Consultation 1. Sharia Supervisory Board
June 17, 2025
– Proposal for the Provision of Financing 2. Sharia Business Division
Facilities under the Musyarakah Scheme 3. Financing and Investment Evaluation Division
to PT Medco Power Indonesia (“MPI” or the 4. Environmental, Social and Technical Evaluation
“Customer”) Division
5. Legal Division
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
6. Compliance Division
1. Dewan Komisaris
2. DPS
3. Direksi
4. Divisi Usaha Syariah (DUS)
5. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
6. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Konsultasi Gabungan DPS, Dekom dan Direksi
7. Divisi Hukum (DH)
terkait Rencana Pembiayaan kepada PT
8. Divisi Keuangan & Hubungan Investor (DKHI)
CMNP dan PT JJC
9. Divisi Kepatuhan (DK)
24 Juni 2025 Joint Consultation of the Sharia Supervisory
12. 1. Board of Commissioners
June 24, 2025 Board, Board of Commissioners, and Board of
2. Sharia Supervisory Board
Directors regarding the Financing Plan to PT
3. Board of Directors
CMNP and PT JJC
4. Sharia Business Division
5. Financing and Investment Evaluation Division
6. Environmental, Social and Technical Evaluation
Division
7. Legal Division
8. Finance and Investor Relations Division
9. Compliance Division
467
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tanggal Agenda Peserta Rapat
No.
Date Agenda Meeting Participants
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Konsultasi DPS – Usulan Pemberian Fasilitas 4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Pembiayaan kepada PT Memiontec Bakti Bali 5. Divisi Hukum (DH)
(MBB) 6. Divisi Kepatuhan (DK)
15 Juli 2025
13. Sharia Supervisory Board Consultation 1. Sharia Supervisory Board
July 15, 2025
– Proposal for the Provision of Financing 2. Sharia Business Division
Facilities to PT Memiontec Bakti Bali (MBB) 3. Financing and Investment Evaluation Division
4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
5. Divisi Hukum (DH)
6. Divisi Kepatuhan (DK)
Pembahasan Usulan Produk Baru –
7. Divisi Manajemen Risiko Terintegrasi (DMRT)
24 Juli 2025 Pembiayaan Akad Salam
14. 1. Sharia Supervisory Board
July 24, 2025 Discussion on the Proposal for a New Product
2. Sharia Business Division
– Salam Contract Financing
3. Financing and Investment Evaluation Division
4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
7. Integrated Risk Management Division
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Konsultasi DPS – Usulan Pemberian Fasilitasn
5. Divisi Hukum (DH)
Pembiayaan kepada PT Prakarsa Energi
6. Divisi Kepatuhan (DK)
31 Juli 2025 Sejahtera (PES)
15. 1. Sharia Supervisory Board
July 31, 2025 Sharia Supervisory Board Consultation –
2. Sharia Business Division
Proposal for the Provision of Financing Facilities
3. Financing and Investment Evaluation Division
to PT Prakarsa Energi Sejahtera (PES)
4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Konsultasi DPS - Usulan Pemberian 4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Fasilitas Pembiayaan kepada PT Pertamina 5. Divisi Hukum (DH)
International Shipping (PIS) 6. Divisi Kepatuhan (DK)
01 Agustus 2025
16. Sharia Supervisory Board Consultation 1. Sharia Supervisory Board
August 1, 2025
– Proposal for the Provision of Financing 2. Sharia Business Division
Facilities to PT Pertamina International 3. Financing and Investment Evaluation Division
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Shipping (PIS) 4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Konsultasi DPS - Usulan Pemberian Fasilitas
5. Divisi Hukum (DH)
Pembiayaan kepada PT OKI & Pulp Paper Mills
6. Divisi Kepatuhan (DK)
22 Agustus 2025 (OKI)
17. 1. Sharia Supervisory Board
August 22, 2025 Sharia Supervisory Board Consultation
2. Sharia Business Division
– Proposal for the Provision of Financing
3. Financing and Investment Evaluation Division
Facilities to PT OKI & Pulp Paper Mills (OKI)
4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
468
Page 199
Tanggal Agenda Peserta Rapat
No.
Date Agenda Meeting Participants
1. DPS
2. Direksi
3. Divisi Usaha Syariah (DUS)
4. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Pemaparan Kinerja Usaha Syariah PT SMI 5. Divisi Keuangan & Hubungan Investor (DKHI)
03 September 2025 Semester 1 Tahun 2025 6. Divisi Kepatuhan (DK)
18.
September 3, 2025 Presentation on the Sharia Business 1. Sharia Supervisory Board
Performance of PT SMI for Semester I of 2025 2. Board of Directors
3. Sharia Business Division
4. Financing and Investment Evaluation Division
5. Finance and Investor Relations Division
6. Compliance Division
1. DPS
Penyesuaian Struktur Fasilitas Pembiayaan 2. Divisi Usaha Syariah (DUS)
(Konversi Akad MMQ menjadi Murabahah) an 3. Divisi Hukum (DH)
08 September 2025 Rumah Sakit Pusat Otak Nasional (RS PON) 4. Divisi Kepatuhan (DK)
19.
September 8, 2025 Adjustment to the Financing Facility Structure 1. Sharia Supervisory Board
(Conversion of MMQ Contract to Murabahah) 2. Sharia Business Division
for Rumah Sakit Pusat Otak Nasional (RS PON) 3. Legal Division
4. Compliance Division
1. DPS
2. Tim Ahli Syariah (TAS)
3. Divisi Usaha Syariah (DUS)
4. Divisi Keuangan & Hubungan Investor (DKHI)
Pembahasan Rencana Penerbitan Sukuk
5. Divisi Hukum (DH)
29 September 2025 Mudharabah PUB III Tahap 2
6. Divisi Kepatuhan (DK)
20. September 29, Discussion on the Plan for the Issuance
1. Sharia Supervisory Board
2025 of Sukuk through Public Offering of Shelf
2. Sharia Expert Team
Registration Sukuk Mudharabah III Tranche 2
3. Sharia Business Division
4. Finance and Investor Relations Division
5. Legal Division
6. Compliance Division
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Konsultasi DPS - Usulan Pemberian Fasilitas 5. Divisi Hukum (DH)
29 September 2025 Pembiayaan kepada PLN Batam (PLB) 6. Divisi Kepatuhan (DK)
21. September 29, Sharia Supervisory Board Consultation 1. Sharia Supervisory Board
2025 – Proposal for the Provision of Financing 2. Sharia Business Division
Facilities to PLN Batam (PLB) 3. Financing and Investment Evaluation Division
4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
1. Dewan Komisaris
2. DPS
3. Direksi
4. Divisi Usaha Syariah (DUS)
5. Divisi Evaluasi Pembiayaan & Investasi (DEPI) PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
6. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Rapat Konsultasi Gabungan Dekom, DPS dan 7. Divisi Hukum (DH)
Direksi terkait Rencana Usulan Pembiayaan 8. Divisi Kepatuhan (DK)
kepada PT PLN Batam 9. Sesdekom
15 Oktober 2025
22. Joint Consultation Meeting of the Board 1. Board of Commissioners
October 15, 2025
of Commissioners, Sharia Supervisory 2. Sharia Supervisory Board
Board, and Board of Directors regarding the 3. Board of Directors
Proposed Financing to PT PLN Batam 4. Sharia Business Division
5. Financing and Investment Evaluation Division
6. Environmental, Social and Technical Evaluation
Division
7. Legal Division
8. Compliance Division
9. Secretary to the Board of Commissioners
469
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tanggal Agenda Peserta Rapat
No.
Date Agenda Meeting Participants
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Konsultasi DPS - Usulan Pemberian Fasilitas
5. Divisi Hukum (DH)
Pembiayaan Syariah kepada PT Angkasa
6. Divisi Kepatuhan (DK)
27 November 2025 Pura Indonesia (API)
23. 1. Sharia Supervisory Board
November 27, 2025 Sharia Supervisory Board Consultation –
2. Sharia Business Division
Proposal for the Provision of Sharia Financing
3. Financing and Investment Evaluation Division
Facilities to PT Angkasa Pura Indonesia (API)
4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
1. DPS
2. Divisi Usaha Syariah (DUS)
3. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
4. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
5. Divisi Hukum (DH)
Usulan Pemberian Fasilitas Pembiayaan
04 Dessember 6. Divisi Kepatuhan (DK)
kepada PT Petrokimia Gresik (PKG)
24. 2025 1. Sharia Supervisory Board
Proposal for the Provision of Financing
December 4, 2025 2. Sharia Business Division
Facilities to PT Petrokimia Gresik (PKG)
3. Financing and Investment Evaluation Division
4. Environmental, Social and Technical Evaluation
Division
5. Legal Division
6. Compliance Division
1. Dewan Komisaris
2. DPS
3. Direksi
4. Divisi Usaha Syariah (DUS)
5. Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Konsultasi Gabungan Dekom, DPS dan Direksi 6. Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
terkait Rencana Usulan Pembiayaan kepada 7. Divisi Hukum (DH)
PT Angkasa Pura Indonesia (API – In Journey 8. Divisi Kepatuhan (DK)
Group) 9. Sesdekom
15 Desember 2025
25 Joint Consultation of the Board of 1. Board of Commissioners
December 15, 2025
Commissioners, Sharia Supervisory Board, 2. Sharia Supervisory Board
and Board of Directors regarding the 3. Board of Directors
Proposed Financing to PT Angkasa Pura 4. Sharia Business Division
Indonesia (API – In Journey Group) 5. Financing and Investment Evaluation Division
6. Environmental, Social and Technical Evaluation
Division
7. Legal Division
8. Compliance Division
9. Secretary to the Board of Commissioners
Rapat Internal DPS - Pembahasan Hasil
Pemeriksaan OJK Tahun 2025 dan Kontrak
Kinerja DPS Tahun 2026 1. DPS
29 Desember 2025 Internal Sharia Supervisory Board Meeting 2. Divisi Kepatuhan (DK)
26.
December 29, 2025 – Discussion on the Examination Results of 1. Sharia Supervisory Board
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Financial Services Authority in 2025 and the 2. Compliance Division
Sharia Supervisory Board’s Performance
Contract for 2026
1. DPS
2. Direktur Pembiayaan & Investasi
3. Direktur Manajemen Risiko
4. Direktu Operasional dan Keuangan
5. Divisi Usaha Syariah (DUS)
Rapat Konsultasi Gabungan DPS dan Direksi –
6. Divisi Keuangan dan Hubungan Investor (DKHI)
Pemaparan Kinerja Usaha Syariah Perseroan
7. Divisi Kepatuhan (DK)
Tahun 2025 Semester 2
30 Desember 2025 8. Sekretaris DPS
27. Joint Consultation Meeting of the Sharia
December 30, 2025 1. Sharia Supervisory Board
Supervisory Board and the Board of Directors
2. Director of Financing & Investment
– Presentation of the Company’s Sharia
3. Director of Risk Management
Business Performance for Semester II of 2025
4. Director of Operations and Finance
5. Sharia Business Division
6. Finance and Investor Relations Division
7. Compliance Division
8. Secretary to the Sharia Supervisory Board
470
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PENGEMBANGAN KOMPETENSI COMPETENCY DEVELOPMENT OF THE
DEWAN PENGAWAS SHARIA SUPERVISORY BOARD IN 2025
SYARIAH TAHUN 2025
Pemahaman Perseroan terhadap dinamika ekonomi The Company’s understanding of the dynamics of the
syariah, baik di tingkat global maupun nasional, sharia economy, both globally and nationally, has driven
mendorong peningkatan kualitas pengawasan continuous improvement in the quality of supervision
melalui penguatan kapasitas seluruh anggota Dewan through strengthening the capacity of all members of the
Pengawas Syariah. Untuk itu, Perseroan secara konsisten Sharia Supervisory Board (SSB). To this end, the Company
menyediakan berbagai program pengembangan consistently provides relevant competency development
kompetensi yang relevan agar setiap anggota DPS programs to ensure that each SSB member is able to
mampu menyesuaikan dirinya dengan perubahan adapt to regulatory changes, industry best practices,
regulasi, praktik terbaik industri, serta kebutuhan and the supervisory needs related to sharia products and
pengawasan atas produk dan layanan syariah. Upaya services. This initiative also forms part of the Company’s
ini juga menjadi bagian dari komitmen Perseroan dalam commitment to ensuring that the operations of its sharia
memastikan bahwa operasional unit usaha syariah tetap business unit remain compliant with sharia principles
memenuhi prinsip-prinsip syariah dan memberikan nilai and deliver added value to stakeholders.
tambah bagi para pemangku kepentingan.
Rincian program pengembangan kompetensi anggota Details of the competency development programs
DPS Perseroan sampai dengan akhir 2025 adalah sebagai attended by SSB members up to the end of 2025 are
berikut: as follows:
Nama Jabatan Pelatihan Penyelenggara Tanggal
Name Position Training Organizer Date
Pelatihan Berbasis Kompetensi
Ketua DPS Manajemen Risiko Perbankan
Chairman of the Kualifikasi 5 08-09 Mei 2025
Kanny Hidaya JMS Education
Sharia Supervisory Competency-Based Training May 8-9, 2025
Board on Banking Risk Management
Qualification Level 5
Dewan Syariah Nasional
Ijtima’ Sanawi (Annual Meeting)
Ketua DPS – Majelis Ulama
DPS XXI Tahun 2025
Chairman of the Indonesia 26-27 September 2025
Kanny Hidaya Ijtima’ Sanawi (Annual Meeting)
Sharia Supervisory National Sharia Council September 26-27, 2025
of Sharia Supervisory Board XXI
Board – Indonesian Ulema
for 2025
Council
Workshop Skema Pembiayaan
Ketua DPS Syariah untuk Badan Layanan
Chairman of the Umum 07 Oktober 2025
Kanny Hidaya SMI University
Sharia Supervisory Workshop on Sharia Financing October 7, 2025
Board Schemes for Public Service
Agencies
Workshop Compliance
Assurance: Penguatan
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Ketua DPS
Pengendalian Internal dan
Chairman of the 20-21 November 2025
Kanny Hidaya Kepatuhan SMI University
Sharia Supervisory November 20-21, 2025
Compliance Assurance
Board
Workshop: Strengthening Internal
Control and Compliance
Penerapan APU-PPT & PPPSPM
di Lembaga Jasa Keuangan
(LJK): Meningkatkan Kepatuhan
Ketua DPS Regulasi, Pengendalian Risiko,
Chairman of the dan Integritas Sistem Keuangan 08-09 Desember 2025
Kanny Hidaya SMI University
Sharia Supervisory Implementation of AML-CFT and December 8-9, 2025
Board CPF-WMD in Financial Services
Institutions: Enhancing Regulatory
Compliance, Risk Control, and the
Integrity of the Financial System
Dewan Syariah Nasional
Ijtima’ Sanawi (Annual Meeting)
Anggota DPS – Majelis Ulama
DPS XXI Tahun 2025
Member of the Indonesia 26-27 September 2025
Muhammad Faishol Ijtima’ Sanawi (Annual Meeting)
Sharia Supervisory National Sharia Council September 26-27, 2025
of Sharia Supervisory Board XXI
Board – Indonesian Ulema
for 2025
Council
471
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05 Tata Kelola Perusahaan
Good Corporate Governance
Nama Jabatan Pelatihan Penyelenggara Tanggal
Name Position Training Organizer Date
Workshop Skema Pembiayaan
Anggota DPS Syariah untuk Badan Layanan
Member of the Umum 07 Oktober 2025
Muhammad Faishol SMI University
Sharia Supervisory Workshop on Sharia Financing October 7, 2025
Board Schemes for Public Service
Agencies
Workshop Compliance
Assurance: Penguatan
Anggota DPS
Pengendalian Internal dan
Member of the 20-21 November 2025
Muhammad Faishol Kepatuhan SMI University
Sharia Supervisory November 20-21, 2025
Compliance Assurance
Board
Workshop: Strengthening Internal
Control and Compliance
Penerapan APU-PPT & PPPSPM
di Lembaga Jasa Keuangan
(LJK): Meningkatkan Kepatuhan
Anggota DPS Regulasi, Pengendalian Risiko,
Member of the dan Integritas Sistem Keuangan 08-09 Desember 2025
Muhammad Faishol SMI University
Sharia Supervisory Implementation of AML-CFT and December 8-9, 2025
Board CPF-WMD in Financial Services
Institutions: Enhancing Regulatory
Compliance, Risk Control, and the
Integrity of the Financial System
PELAKSANAAN TUGAS DEWAN IMPLEMENTATION OF DUTIES OF THE
PENGAWAS SYARIAH TAHUN 2025 SHARIA SUPERVISORY BOARD IN 2025
Dewan Pengawas Syariah terus menegaskan komitmen The Sharia Supervisory Board (SSB) has consistently
dan kontribusinya dalam memperkuat pengembangan reaffirmed its commitment and contribution to
unit usaha syariah Perseroan. Sepanjang proses strengthening the development of the Company’s sharia
pengawasan, DPS senantiasa mendampingi manajemen business unit. In carrying out its supervisory function,
serta memberikan nasihat dan opini yang berlandaskan the SSB continuously accompanies management
prinsip syariah, sehingga seluruh aktivitas usaha syariah and provides advice and opinions grounded in sharia
PT SMI tetap berada dalam koridor kepatuhan tanpa principles, ensuring that all sharia business activities
mengabaikan pencapaian tujuan bisnis. of PT SMI remain compliant while still supporting the
achievement of business objectives.
Sepanjang tahun 2025, Dewan Pengawas Syariah telah Throughout 2025, the Sharia Supervisory Board (DPS)
melakukan pengawasan atau pemeriksaan syariah, conducted sharia supervision and reviews, the results
sebagaimana hasilnya telah disampaikan kepada of which were communicated to the Company’s
manajemen Perseroan melalui Surat DPS No. S-008/ management through the Letter of the Sharia Supervisory
SMI/DPS/0925 tanggal 26 September 2025 perihal Board No. S-008/SMI/DPS/0925 dated September 26,
Penyampaian Hasil Pengawasan/Pemeriksaan Dewan 2025, concerning the Submission of the Sharia Supervisory
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Pengawas Syariah (“DPS”) terhadap Kegiatan Unit Usaha Board’s Supervision/Review Results on the Sharia Business
Syariah PT Sarana Multi Infrastruktur (Persero) Tahun Unit Activities of PT Sarana Multi Infrastruktur (Persero) for
Kinerja 2024 juncto Surat DPS No. S-003/SMI/DPS/0225 the 2024 performance year, in conjunction with the Letter
tanggal 07 Februari 2025 perihal Pemberitahuan of the Sharia Supervisory Board No. S-003/SMI/DPS/0225
Pemeriksaan Dewan Pengawas Syariah Kinerja Usaha dated February 7, 2025, concerning the Notification of
Syariah Perseroan Tahun 2024. the Sharia Supervisory Board’sReview on the Company’s
Sharia Business Performance for 2024.
Selain itu, Dewan Pengawas Syariah juga telah In addition, the Sharia Supervisory Board has submitted
menyampaikan Laporan Pelaksanaan Tugas & Tanggung semi-annual reports on the implementation of its duties
Jawab Dewan Pengawas Syariah secara semesteran and responsibilities to the Shareholders, as reflected in
kepada Pemegang Saham , sebagaimana termaktub the Letter of the Sharia Supervisory Board No. S-005/SMI/
dalam Surat DPS No. S-005/SMI/DPS/0725 tanggal DPS/0725 dated July 18, 2025, concerning the Report on
18 Juli 2025 perihal Laporan Pelaksanaan Tugas dan the Implementation of Duties and Responsibilities of the
Tanggung Jawab Dewan Pengawas Syariah (DPS) PT Sharia Supervisory Board of PT Sarana Multi Infrastruktur
Sarana Multi Infrastruktur (Persero) Semester I Tahun (Persero) for Semester I of 2025, and the Letter of the
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2025 dan Surat DPS No. S-001/SMI/DPS/0126 tanggal 14 Sharia Supervisory Board No. S-001/SMI/DPS/0126 dated
Januari 2026 perihal Laporan Pelaksanaan Tugas dan January 14, 2026, concerning the Report for Semester II
Tanggung Jawab Dewan Pengawas Syariah (DPS) PT of 2025. These reports reflect the Board’s supervisory
Sarana Multi Infrastruktur (Persero) Semester II Tahun role in ensuring compliance with sharia principles in
2025. Laporan tersebut mencerminkan pelaksanaan the Company’s sharia business activities, including the
tugas pengawasan pemenuhan prinsip syariah dalam provision of advice/recommendations and the conduct
kegiatan usaha syariah Perseroan termasuk pemberian of consultation meetings.
nasihat/masukan dan penyelenggaraan rapat konsultasi.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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05 Tata Kelola Perusahaan
Good Corporate Governance
DIREKSI
BOARD OF DIRECTORS
Sebagai organ utama dalam struktur GCG, Direksi As a primary organ within the GCG structure, the Board of
memegang peranan sentral dalam mengarahkan dan Directors plays a central role in directing and managing
mengelola Perseroan. Direksi diberikan mandat penuh the Company. The Board of Directors is granted full
untuk menjalankan kegiatan usaha, mewakili Perseroan, authority to conduct business activities, represent the
serta memastikan setiap keputusan dan aktivitas Company, and ensure that all decisions and operational
operasional selaras dengan maksud dan tujuan yang activities are aligned with the purposes and objectives
tercantum dalam Anggaran Dasar. Seluruh pelaksanaan set out in the Articles of Association. The implementation
tugas tersebut dipertanggungjawabkan kepada Rapat of these duties is accountable to the General Meeting
Umum Pemegang Saham (RUPS), yang dalam hal ini of Shareholders (GMS), represented by the Minister of
diwakili oleh Menteri Keuangan atas nama Pemerintah Finance on behalf of the Government of Indonesia.
Indonesia.
Proses pengangkatan dan penetapan anggota Direksi The appointment and determination process for members
Perseroan disusun berdasarkan ketentuan hukum yang of the Board of Directors is carried out in accordance
berlaku, sehingga memastikan integritas, kompetensi, with applicable laws and regulations, thereby ensuring
serta akuntabilitas dalam struktur kepemimpinan integrity, competence, and accountability within the
perusahaan. Adapun regulasi dan dasar hukum yang Company’s leadership structure. The relevant regulations
menjadi rujukan antara lain: and legal bases serving as references include, among
others:
1. Undang-Undang No. 40 Tahun 2007 tentang Perseroan 1. Law No. 40 of 2007 concerning Limited Liability
Terbatas; Companies;
2. Peraturan Otoritas Jasa Keuangan No. 33/POJK.04/2014 2. Regulation of Financial Services Authority (POJK)
tentang Direksi dan Dewan Komisaris Emiten atau No. 33/POJK.04/2014 concerning Board of Directors
Perusahaan Publik; and Board of Commissioners of Issuers or Public
Companies;
3. Peraturan Otoritas Jasa Keuangan No. 16 Tahun 2024 3. Regulation of Financial Services Authority No. 16 of 2024
tentang PT Sarana Multi Infrastruktur (Persero); concerning PT Sarana Multi Infrastruktur (Persero);
4. Peraturan Menteri Keuangan Republik Indonesia 4. Regulation of the Minister of Finance No. 88/
No. 88/PMK.06/2015 tentang Penerapan Tata Kelola PMK.06/2015 concerning the Implementation of Good
Perusahaan yang Baik pada Perusahaan Perseroan Corporate in Limited Liability Companies (Persero)
(Persero) di bawah Pembinaan dan Pengawasan under the Guidance and Supervision of the Minister
Menteri Keuangan; of Finance;
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
5. Peraturan Menteri Keuangan Republik Indonesia No. 5. Regulation of the Minister of Finance of the Republic of
78/PMK.06/2015 tentang Tata Cara Pengangkatan dan Indonesia No. 78/PMK.06/2015 concerning Procedures
Pemberhentian Anggota Direksi Perusahaan Perseroan for the Appointment and Dismissal of Members of
(Persero) di bawah Pembinaan dan Pengawasan the Board of Directors of Limited Liability Companies
Menteri Keuangan beserta Perubahannya; (Persero) under the Guidance and Supervision of the
Minister of Finance, along with its Amendments;
6. Peraturan Menteri Keuangan Republik Indonesia No. 6. Regulation of the Minister of Finance of the Republic
106/PMK.06/2017 tentang Pengelolaan Kinerja Direksi of Indonesia No. 106/PMK.06/2017 concerning the
dan Dewan Komisaris pada Perusahaan Perseroan Performance Management of the Board of Directors
(Persero) di bawah Pembinaan dan Pengawasan and Board of Commissioners of Limited Liability
Menteri Keuangan; dan Companies (Persero) under the Guidance and
Supervision of the Minister of Finance; and
7. Anggaran Dasar Perseroan. Direksi bertugas menurut 7. The Company's Articles of Association. The Board
pembagian bidang kerja, namun bertanggung jawab of Directors operates according to the division of
secara kolegial terhadap segala keputusan maupun work areas but bears collective responsibility for
tindakan yang diambil dalam mengelola Perseroan. all decisions and actions taken in managing the
Direksi wajib memastikan pelaksanaan strategi usaha Company. The Board of Directors is obligated to
sesuai dengan rencana kerja yang telah disetujui oleh ensure the implementation of business strategies
Dewan Komisaris dan RUPS. aligns with the work plan approved by the Board
474 of Commissioners and the General Meeting of
Shareholders (GMS).
Page 205
KRITERIA ANGGOTA DIREKSI CRITERIA FOR MEMBERS OF
THE BOARD OF DIRECTORS
Seluruh anggota Direksi wajib memenuhi standar All members of the Board of Directors are required to
kualifikasi dan persyaratan yang ditetapkan dalam meet the qualification standards and requirements
Peraturan Menteri Keuangan Republik Indonesia No. 78/ as stipulated in Minister of Finance Regulation of the
PMK.06/2015 beserta seluruh perubahannya. Ketentuan Republic of Indonesia No. 78/PMK.06/2015, including all
tersebut menggariskan sejumlah aspek yang harus its amendments. These provisions outline several criteria
dipenuhi oleh setiap calon Direksi, antara lain: that must be fulfilled by each candidate for the Board of
Directors, including, among others:
1. Syarat Umum, yaitu orang perseorangan yang cakap 1. General Requirements. Individuals who are legally
melakukan perbuatan hukum, kecuali dalam waktu 5 competent to perform legal acts, except for those who,
(lima) tahun sebelum pengangkatan pernah: within five (5) years prior to the appointment, have:
a. Dinyatakan pailit; a. Been declared bankrupt;
b. Menjadi anggota Direksi atau Dewan Komisaris/ b. Served as a member of the Board of Directors or
Dewan Pengawas yang dinyatakan bersalah Board of Commissioners/Supervisory Board found
menyebabkan suatu BUMN dan/atau perusahaan guilty of causing a State-Owned Enterprise (SOE)
dinyatakan pailit; atau and/or company to be declared bankrupt;
c. Dihukum karena melakukan tindak pidana yang c. Been convicted of a criminal act causing financial
merugikan keuangan negara dan/atau yang loss to the state and/or related to the financial
berkaitan dengan sektor keuangan. sector.
2. Syarat Khusus, yaitu: 2. Specific Requirements
a. Kesehatan jasmani dan rohani; a. Physical and mental health;
b. Integritas dan moral; b. Integrity and morality;
c. Keahlian; c. Expertise;
d. Kepemimpinan; d. Leadership;
e. Pengalaman; dan e. Experience; and
f. Kemauan yang kuat dan dedikasi yang tinggi. f. Strong commitment and high dedication.
3. Syarat Lain, meliputi: 3. Other Requirements
a. Bukan pengurus partai politik, anggota legislatif a. Not serving as a political party official, a legislative
dan/atau tidak sedang mencalonkan diri sebagai member, and/or not running as a candidate for
calon anggota legislatif; legislative membership;
b. Bukan kepala/wakil kepala daerah dan/atau tidak b. Not serving as a regional head/deputy regional
sedang mencalonkan diri sebagai calon kepala/ head and/or not running as a candidate for
wakil kepala daerah; regional head/deputy regional head;
c. Tidak sedang menjabat sebagai pejabat pada c. Not holding a position in central and/or regional
instansi/lembaga pemerintah pusat dan/atau government agencies/institutions, as a member
daerah, Anggota Dewan Komisaris/Pengawas of the Board of Commissioners/Supervisory Board
pada BUMN, anggota Direksi pada BUMN dan/ in an SOE, or as a member of the Board of Directors
atau Perusahaan, kecuali menandatangani surat in an SOE and/or company, unless they sign a
pernyataan bersedia mengundurkan diri dari statement agreeing to resign from such positions
jabatan tersebut jika terpilih sebagai anggota if selected as a member of the Board of Directors PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Direksi Perseroan; of the Company;
d. Tidak sedang menduduki jabatan yang d. Not holding a position that, under applicable laws
berdasarkan peraturan perundang-undangan and regulations, is prohibited from being held
dilarang untuk dirangkap dengan jabatan concurrently with a position as a member of the
anggota Direksi, kecuali menandatangani surat Board of Directors, unless they sign a statement
pernyataan bersedia mengundurkan diri dari agreeing to resign from such positions if selected
jabatan tersebut jika terpilih sebagai anggota as a member of the Board of Directors; or
Direksi; atau
e. Tidak menjabat sebagai Anggota Direksi pada e. Not serving as a member of the Board of Directors
Persero yang bersangkutan selama 2 (dua) in the same company for two (2) consecutive
periode berturut-turut. terms.
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05 Tata Kelola Perusahaan
Good Corporate Governance
KOMPOSISI DIREKSI COMPOSITION OF THE
BOARD OF DIRECTORS
Pengangkatan dan pemberhentian anggota Direksi The appointment and dismissal of members of the Board
ditetapkan oleh Menteri Keuangan selaku pemegang of Directors are determined by the Minister of Finance
saham tunggal melalui mekanisme RUPS. Seluruh proses as the sole shareholder through the GMS mechanism.
tersebut dilaksanakan dengan mengacu pada ketentuan All such processes are carried out in accordance with
peraturan perundang-undangan yang berlaku serta prevailing laws and regulations as well as the Company’s
Anggaran Dasar Perseroan. Berdasarkan Anggaran Dasar, Articles of Association. Based on the Articles of Association,
masa jabatan anggota Direksi adalah selama 5 (lima) the term of office for members of the Board of Directors
tahun dan dapat diangkat kembali untuk 1 (satu) kali is 5 (five) years and they may be reappointed for 1 (one)
masa jabatan dengan tidak mengurangi hak dari RUPS additional term, without prejudice to the right of the GMS
untuk memberhentikan sewaktu-waktu. to dismiss them at any time.
Struktur Direksi Perseroan dirancang untuk selaras The structure of the Board of Directors is designed to
dengan kebutuhan strategis, tingkat perkembangan, align with the Company’s strategic needs, stage of
serta kompleksitas kegiatan usaha yang dijalankan. development, and the complexity of its business activities.
Adapun penetapan komposisi Direksi diarahkan agar The composition of the Board is determined to ensure
proses pengambilan keputusan dapat berlangsung that decision-making processes are effective, responsive,
secara lebih efektif, responsif, dan berorientasi pada and focused on achieving the Company’s objectives.
pencapaian sasaran Perseroan.
Adapun di tahun 2025 tidak terdapat perubahan In 2025, there were no changes to the composition of the
komposisi Direksi. Dengan demikian, komposisi Direksi Board of Directors. Accordingly, the composition of PT SMI’s
PT SMI per 31 Desember 2025 adalah sebagai berikut: Board of Directors as of December 31, 2025, is as follows:
Periode 1 Januari 2025 – 31 Desember 2025
Period of January 1, 2025 – December 31, 2025
Nama Jabatan Periode Jabatan Dasar Pengangkatan
Name Position Term of Office Basis of Appointment
Keputusan Menteri Keuangan No. 326 Tahun 2024 tanggal 14
Reynaldi Direktur Utama Agustus 2024.
2024-2029
Hermansjah President Director Decree of the Minister of Finance No. 326 of 2024 dated August
14, 2024.
• Keputusan Menteri Keuangan No. 480/KMK.06/2018
Tanggal 9 Juli 2018.
• Periode I: 2018-2023 • Decree of the Minister of Finance No. 480/KMK.06/2018
Direktur • Periode II: 2023-2028 dated July 9, 2018.
Faaris Pranawa
Director • Period I: 2018-2023 • Keputusan Menteri Keuangan No. 310 Tahun 2023 Tanggal
• Period II: 2023-2028 28 Agustus 2023.
• Decree of the Minister of Finance No. 310 of 2023 dated
August 28, 2023.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Keputusan Menteri Keuangan No.126/KMK.06/2020 tanggal
23 Maret 2020.
• Keputusan Menteri Keuangan Republik Indonesia
Nomor 47 Tahun 2025 tanggal 28 Februari 2025 tentang
• Periode I: 2020-2025 Pengangkatan Kembali Anggota Direksi Perusahaan
Direktur • Periode II: 2025-2030 Perseroan (Persero) PT Sarana Multi Infrastruktur.
Sylvi Juniarty Gani
Director • Period I: 2020 – 2025 • Decree of the Minister of Finance No. 126/KMK.06/2020
• Period II: 2025 – 2030 dated March 23, 2020.
• Decree of the Minister of Finance of the Republic of
Indonesia No. 47 of 2025 dated February 28, 2025,
concerning the Reappointment of a Member of the Board
of Directors of PT Sarana Multi Infrastruktur (Persero).
Keputusan Menteri Keuangan No.12/KMK.06/2022 tanggal 17
Direktur Januari 2022.
Pradana Murti 2022-2027
Director Decree of the Minister of Finance No. 12/KMK.06/2022 dated
January 17, 2022.
Keputusan Menteri Keuangan No. 326 Tahun 2024 tanggal 14
Direktur Agustus 2024.
Aradita Priyanti 2024-2029
Director Decree of the Minister of Finance No. 326 of 2024 dated August
14, 2024.
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Informasi lengkap mengenai profil setiap anggota Direksi Complete information on the profile of each member
disajikan pada Bab Profil Perusahaan dalam Laporan of the Board of Directors is presented in the Company
Tahunan ini. Profile chapter of this Annual Report.
PEDOMAN DAN TATA WORK GUIDELINES AND
TERTIB KERJA DIREKSI PROCEDURES OF THE BOARD OF
DIRECTORS (BOARD MANUAL)
PT SMI memiliki Pedoman dan Tata Tertib Kerja Bersama PT SMI has established Work Guidelines and Procedures for
bagi Dewan Komisaris, Direksi, dan Dewan Pengawas the Board of Commissioners, the Board of Directors, and the
Syariah, sebagaimana diatur dalam Peraturan Bersama Sharia Supervisory Board, as stipulated in the Joint Regulation
Dewan Komisaris, Dewan Pengawas Syariah dan Direksi of the Board of Commissioners, the Sharia Supervisory Board,
Nomor PER-04/SMI/DK/1225, Nomor PER-012/SMI/DPS/1225, and the Board of Directors No. PER-04/SMI/DK/1225, No. PER-
dan Nomor PD-032/SMI/1225 tanggal 23 Desember 012/SMI/DPS/1225, and No. PD-032/SMI/1225 dated December
2025 tentang Pedoman Kerja Dewan Komisaris, Dewan 23, 2025, concerning the Work Guidelines of the Board of
Pengawas Syariah, dan Direksi yang disebut sebagai Commissioners, the Sharia Supervisory Board, and the Board
Board Manual. of Directors (Board Manual).
Dokumen tersebut berfungsi sebagai acuan utama dalam This document serves as the primary reference to
memastikan Direksi menjalankan tugas, tanggung jawab, ensure that the Board of Directors carries out its duties,
dan kewenangannya secara profesional dan selaras responsibilities, and authorities in a professional manner
dengan ketentuan Anggaran Dasar serta regulasi yang and in alignment with the Articles of Association and
berlaku. Penyusunan Board Manual juga mencerminkan applicable regulations. The preparation of the Board
komitmen Perseroan terhadap penerapan praktik tata Manual also reflects the Company’s commitment to
kelola terbaik (best practices). implementing best governance practices.
Selain itu, Board Manual Direksi akan dievaluasi dan In addition, the Board Manual for the Board of Directors is
diperbarui secara periodik untuk memastikan relevansi evaluated and updated periodically to ensure its continued
dan kesesuaiannya dengan dinamika bisnis, kebutuhan relevance and alignment with business dynamics,
organisasi, serta perkembangan peraturan perundang- organizational needs, and developments in applicable
undangan. Dengan demikian, Board Manual senantiasa laws and regulations. Accordingly, the Board Manual
menjadi referensi yang mutakhir dalam mendukung remains an up-to-date reference in supporting the effective
efektivitas fungsi pengurusan Perseroan oleh Direksi. management of the Company by the Board of Directors.
TUGAS, TANGGUNG JAWAB DUTIES, RESPONSIBILITIES,
DAN WEWENANG DIREKSI AND AUTHORITIES OF THE
BOARD OF DIRECTORS
Sejalan dengan ketentuan yang berlaku, tugas dan In accordance with prevailing regulations, the duties and
tanggung jawab Direksi Perseroan telah ditetapkan responsibilities of the Company’s Board of Directors are
melalui Peraturan Menteri Keuangan Republik Indonesia stipulated in the Regulation of the Minister of Finance of
No. 88/PMK.06/2015 tentang Penerapan Tata Kelola the Republic of Indonesia No. 88/PMK.06/2015 concerning PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Perusahaan yang Baik pada Perusahaan Perseroan the Implementation of Good Corporate Governance in
(Persero) di bawah Pembinaan dan Pengawasan State-Owned Companies (Persero) under the Guidance
Menteri Keuangan, Keputusan Menteri Keuangan No. 505/ and Supervision of the Minister of Finance, Decree of the
KMK.06/2020 tentang Pedoman Penilaian dan Evaluasi Minister of Finance No. 505/KMK.06/2020 concerning
atas Penerapan Tata Kelola Perusahaan yang Baik pada Guidelines for the Assessment and Evaluation of the
Perusahaan Perseroan (Persero) di bawah Pembinaan Implementation of Good Corporate Governance in
dan Pengawasan Menteri Keuangan, serta Anggaran State-Owned Companies (Persero) under the Guidance
Dasar Perseroan. Seluruh ketentuan tersebut menjadi and Supervision of the Minister of Finance, as well as
acuan utama bagi Direksi dalam menjalankan mandat the Company’s Articles of Association. These provisions
pengelolaan Perseroan secara profesional, transparan, serve as the primary reference for the Board of Directors
dan akuntabel. in carrying out its mandate to manage the Company in
a professional, transparent, and accountable manner.
Berdasarkan ketentuan dimaksud, para anggota Direksi Pursuant to these provisions, members of the Board
Perseroan memegang mandat dan tanggung jawab of Directors hold their mandate and responsibilities
secara kolektif, dengan pelimpahan kewenangan collectively, with operational authorities delegated and
operasional yang dirinci sebagai berikut: detailed as follows:
477
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tugas dan Kewajiban Direksi Duties and Obligations of the
Board of Directors
1. Melaksanakan Tata Kelola Perusahaan yang Baik 1. Implement Good Corporate Governance in line
sebagaimana prinsip-prinsip GCG dalam setiap with GCG principles in every business activity of the
kegiatan usaha Perseroan pada seluruh tingkatan Company at every level of the organization;
atau jenjang organisasi;
2. Menjalankan segala tindakan yang berkaitan dengan 2. Take any action related to the Company management
pengurusan Perseroan untuk kepentingan Perseroan for the Company’s interest and in line with purposes
dan sesuai dengan maksud dan tujuan Perseroan and objectives of the Company, as well as represent
serta mewakili Perseroan baik di dalam maupun di the Company inside and outside the court on any
luar pengadilan tentang segala hal dan segala kejadian affairs and events with restrictions as stipulated by
dengan pembatasan-pembatasan sebagaimana the laws and regulations, Articles of Association, and/
diatur dalam peraturan perundang-undangan, or Resolution of GMS;
Anggaran Dasar dan/atau Keputusan RUPS;
3. Menindaklanjuti temuan audit dan rekomendasi dari 3. Follow up on audit findings, recommendations from
auditor internal, auditor eksternal, hasil pengawasan internal auditor and external auditor, supervision
Dewan Komisaris dan/atau hasil pemeriksaan tertentu results from the Board of Commissioners, and/ or
oleh lembaga pemeriksa lain; results from specific audit by other auditing institutions;
4. Memonitor dan mengelola potensi benturan 4. Monitor and manage potential conflict of interest
kepentingan antar anggota Direksi dan manajemen between members of the Board of Directors and
Perseroan di bawah Direksi; the Company’s management under the Board of
Directors;
5. Menunjuk salah seorang anggota Direksi melalui 5. Appoint a member of the Board of Directors through
Rapat Direksi sebagai penanggung jawab dalam the Board of Directors Meeting as the person in
penerapan dan pemantauan Tata Kelola Perusahaan charge to implement and monitor Good Corporate
yang Baik; Governance.
6. Menyampaikan informasi mengenai identitas, 6. Convey information on identities, main duties,
pekerjaanpekerjaan utamanya, jabatan Dewan and positions of the Board of Commissioners at
Komisaris di anak perusahaan/perusahaan patungan subsidiaries/joint ventures and/or other companies,
dan/atau perusahaan lain, termasuk rapat-rapat including meetings (internal and joint with the Board
yang dilakukan dalam satu tahun buku (rapat internal of Commissioners) held during one fiscal year, as
maupun rapat gabungan dengan Dewan Komisaris), well as salaries, facilities, and/other benefits received
serta gaji, fasilitas, dan/atau tunjangan lain yang from the relevant companies and subsidiaries/joint
diterima dari Perseroan yang bersangkutan dan anak venture of relevant companies, to be included in the
perusahaan/perusahaan patungan perseroan yang Company’s Annual Report;
bersangkutan, untuk dimuat dalam Laporan Tahunan
Perseroan;
7. Melaksanakan tugasnya dengan itikad baik untuk 7. Perform their duties in good faith for the Company’s
kepentingan Perseroan dan sesuai dengan maksud interest and in line with the purposes and objectives
dan tujuan Perseroan, serta memastikan agar of the Company, as well as ensure that the Company
Perseroan melaksanakan tanggung jawab sosialnya conducts its social responsibility and observe the
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
serta memerhatikan kepentingan dari berbagai interest of various Stakeholders according to the
Pemangku Kepentingan sesuai dengan ketentuan provisions in the laws and regulations, Articles of
peraturan perundang-undangan, Anggaran Dasar Association, and/or Resolution of GMS;
dan/atau Keputusan RUPS;
8. Wajib mengungkapkan: 8. Must disclose their:
a. Kepemilikan sahamnya dan/atau keluarganya a. share ownership and/or families’ shares ownership
pada Perseroan dan perusahaan lain, baik yang at the Company and other companies, whether
berkedudukan di dalam maupun luar negeri domestic or overseas, along with any changes;
beserta perubahannya; dan/atau and/or
b. Hubungan keuangan dan/atau hubungan b. financial and/or familial relation to other members
keluarga dengan anggota Direksi lain dalam of the Board of Directors in the Corporate
Laporan Tata Kelola Perusahaan sebagaimana Governance Report as regulated in this Ministerial
diatur dalam Peraturan Menteri ini. Decree.
9. Mengutamakan kepentingan Perseroan dengan 9. Prioritize the Company’s interest while also considering
tetap memerhatikan kepentingan pegawai the interest of employees as a whole in determining
secara keseluruhan dalam menetapkan kebijakan employment policies.
kepegawaian.
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Tanggung Jawab Direksi Responsibilities of the Board of Directors
1. Setiap anggota Direksi bertanggung jawab penuh 1. Each member of the Board of Directors bears full
secara pribadi apabila yang bersangkutan bersalah personal responsibility if they are found guilty or
atau lalai menjalankan tugasnya untuk kepentingan negligent in performing their duties for the benefit
dan usaha Perseroan, kecuali apabila anggota Direksi and interests of the Company, except if the respective
yang bersangkutan dapat membuktikan bahwa: member of the Board of Directors can prove that:
a. Kerugian tersebut bukan karena kesalahan atau a. The loss is not due to their fault or negligence;
kelalaiannya;
b. Telah melakukan pengurusan dengan itikad baik b. They have managed the Company in good
dan kehati-hatian untuk kepentingan dan sesuai faith and with due care in the interests of and in
dengan maksud dan tujuan Perseroan; alignment with the purposes and objectives of
the Company;
c. Tidak mempunyai benturan kepentingan baik c. They have no direct or indirect conflict of interest in
langsung maupun tidak langsung atas tindakan the management actions that resulted in the loss;
pengurusan yang mengakibatkan kerugian; dan d. They have taken actions to prevent or mitigate the
d. Telah mengambil tindakan untuk mencegah occurrence or continuation of such losses.
timbul atau berlanjutnya kerugian tersebut.
2. Tindakan yang dilakukan oleh anggota Direksi di luar 2. Actions taken by a member of the Board of Directors
yang diputuskan oleh Rapat Direksi menjadi tanggung outside the decisions made in a Board of Directors
jawab pribadi yang bersangkutan sampai dengan meeting shall be the personal responsibility of the
tindakan dimaksud disetujui oleh Rapat Direksi. respective member until such actions are approved
by the Board of Directors meeting.
Wewenang Direksi Authorities of the Board of Directors
1. Memberikan perlakuan yang adil kepada pegawai 1. Treat employees fairly in terms of their self-
dalam pengembangan diri, pemberian penghargaan, development, awarding, and enforcement of
dan penegakan ketentuan disiplin pegawai; employee regulations;
2. Menetapkan kebijakan kepengurusan Perseroan; 2. Determine the Company‘s management policies;
3. Mengatur ketentuan-ketentuan tentang kepegawaian 3. Regulate provisions on the Company’s employment,
Perseroan termasuk penetapan gaji, pensiun atau including determination of salary, pension or old age
jaminan hari tua, dan penghasilan lain bagi pekerja benefit, and other remuneration for its employees
Perseroan berdasarkan peraturan perundang- pursuant to the prevailing laws and regulations,
undangan yang berlaku, dengan ketentuan with the condition that determined salary, pension
penetapan gaji, pensiun atau jaminan hari tua, dan or old age benefit and other remuneration for the
penghasilan lain bagi pekerja yang melampaui Company’s employees that exceeds the mandate
kewajiban yang ditetapkan peraturan perundang- set by the laws and regulations must be approved
undangan, harus mendapat persetujuan terlebih beforehand by GMS;
dahulu dari RUPS;
4. Mengangkat dan memberhentikan pegawai 4. Appoint and terminate the Company’s employees
Perseroan berdasarkan peraturan kepegawaian based on employment regulations of the Company
Perseroan dan peraturan perundang-undangan and prevailing laws and regulations;
yang berlaku; PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
5. Mengangkat dan memberhentikan Sekretaris 5. Appoint and terminate Corporate Secretary.
Perusahaan.
PEMBAGIAN TUGAS DIREKSI DISTRIBUTION OF DUTIES OF
THE BOARD OF DIRECTORS
Sebagai tambahan terhadap tanggung jawab kolektif In addition to bearing collective responsibility, each
dalam mengelola Perseroan, setiap anggota Direksi member of the Board of Directors also has individual
juga memegang tugas khusus sesuai peran dan fungsi duties and responsibilities inherent to their respective
jabatannya. Pada penghujung tahun 2025, rincian positions and functions. In 2025, the distribution of
pembagian tugas Direksi telah ditetapkan melalui duties among the Board of Directors according to their
Peraturan Direksi Nomor PD-004/SMI/0125 tanggal 15 respective positions was outlined in the Regulation of the
Januari 2025 tentang Pembagian Tugas dan Pedoman Board of Directors No. PD-004/SMI/0125 dated January
Kerja Direksi PT SMI. Uraian lengkap mengenai tugas 15, 2025, concerning the Distribution of Duties and Work
serta ruang lingkup tanggung jawab masing-masing Guidelines of the Board of Directors of PT SMI.
anggota Direksi berdasarkan posisi yang diemban
disajikan sebagai berikut:
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05 Tata Kelola Perusahaan
Good Corporate Governance
Jabatan Tugas dan Tanggung Jawab
Position Duties and Responsibilities
1. Memberikan arahan dan mengendalikan kebijakan, visi, misi dan strategi Perseroan.
2. Bertindak untuk dan atas nama Direksi mewakili Perseroan di dalam maupun di luar
pengadilan, berdasarkan persetujuan anggota Direksi, sesuai ketentuan Anggaran Dasar
Perseroan dan/atau kebijakan/peraturan/prosedur/ketentuan Perseroan lainnya yang berlaku.
3. Memimpin Rapat Direksi dan menentukan keputusan Rapat Direksi, apabila dalam proses
pengambilan keputusan/voting pada Rapat Direksi terdapat jumlah suara yang sama banyak
antara suara yang setuju dan tidak setuju.
4. Mengoordinasikan pemecahan masalah Perusahaan, kebijakan penyusunan Rencana Jangka
Panjang Perusahaan (RJPP), Rencana Kerja dan Anggaran Perusahaan (RKAP), Pengendalian
pencapaian target RJPP dan RKAP, kebijakan audit, pembentukan citra dan budaya
Perusahaan dan pelaksanaan Tata Kelola Perusahaan yang Baik (GCG).
5. Sebagai penanggung jawab dalam menerapkan dan memantau Tata Kelola Perusahaan yang
Baik (GCG) yang mencakup penyusunan rencana kerja yang diperlukan untuk memastikan
kepatuhan terhadap pedoman & prinsip GCG dan peraturan perundang-undangan.
6. Melakukan pembinaan pegawai sesuai peraturan perundangan dan peraturan Perseroan
yang berlaku.
7. Menyusun laporan kegiatan Direktorat Utama dan laporan-laporan terkait kepegawaian yang
diwajibkan Peraturan Menteri Keuangan dan/atau ketentuan perundang-undangan yang
Direktur Utama
berlaku.
President Director
1. Provide direction and control over the Company’s policies, vision, mission, and strategy.
2. Act for and on behalf of the Board of Directors in representing the Company both inside
and outside the court, subject to the approval of other members of the Board of Directors, in
accordance with the Articles of Association and/or applicable Company policies, regulations,
procedures, and provisions.
3. Chair meetings of the Board of Directors and determine the outcome of Board meetings in the
event of a tie vote during the decision-making or voting process.
4. Coordinate the resolution of Company issues, the formulation of the Company’s Long-Term
Plan (RJPP) and the Company’s Work Plan and Budget (RKAP), the monitoring of RJPP and RKAP
targets, audit policies, corporate image and culture development, and the implementation of
Good Corporate Governance (GCG).
5. Serve as the person in charge of implementing and monitoring GCG, including preparing the
necessary work plans to ensure compliance with GCG guidelines and principles as well as
applicable laws and regulations.
6. Provide guidance and supervision to employees in accordance with applicable laws and
Company regulations.
7. Prepare reports on the activities of the President Director’s Directorate and employee-related
reports as required by Minister of Finance regulations and/or applicable laws and regulations.
Memimpin, mengarahkan dan mengendalikan penyusunan kebijakan dan keputusan terhadap
Direktur Pembiayaan & Investasi
kegiatan usaha sebagaimana diatur dalam Anggaran Dasar Perseroan.
Director of Financing &
Lead, direct, and control the formulation of policies and decisions related to business activities as
Investment
stipulated in the Company’s Articles of Association.
Direktur Pembiayaan Publik & Memimpin, mengarahkan dan mengendalikan penyusunan kebijakan dan keputusan terhadap
Pengembangan Proyek kegiatan usaha sebagaimana diatur dalam Anggaran Dasar Perseroan.
Director of Public Financing & Lead, direct, and control the formulation of policies and decisions related to business activities as
Project Development stipulated in the Company’s Articles of Association.
1. Memimpin, mengarahkan dan mengendalikan penyusunan kebijakan dan keputusan terhadap
kegiatan usaha sebagaimana diatur dalam Anggaran Dasar Perseroan.
2. Mengoordinasikan penyusunan RJPP dan RKAP serta pemantauan target-target keuangan
Perseroan.
3. Melakukan penggalangan dana melalui perbankan, pasar modal & sumber lainnya sesuai
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
peraturan perundangan dan peraturan Perseroan yang berlaku untuk tujuan penyediaan
(likuiditas) dana Perseroan.
4. Melakukan pengelolaan dana dalam instrumen pasar uang, pasar modal, dan instrumen
Direktur Operasional &
lainnya sesuai peraturan perundangan dan peraturan Perseroan yang berlaku untuk tujuan
Keuangan
optimalisasi dana Perseroan.
Director of Operations & Finance
1. Lead, direct, and control the formulation of policies and decisions related to business activities
as stipulated in the Company’s Articles of Association.
2. Coordinate the preparation of the RJPP and RKAP and monitor the Company’s financial targets.
3. Raise funds through banking institutions, the capital market, and other sources in accordance
with applicable laws and Company regulations to ensure the Company’s liquidity.
4. Manage funds in money market instruments, capital market instruments, and other financial
instruments in accordance with applicable laws and Company regulations to optimize the
Company’s funds.
Memimpin, mengarahkan dan mengendalikan penyusunan kebijakan dan keputusan terhadap
kegiatan usaha sebagaimana diatur dalam Anggaran Dasar Perseroan. Bertindak sebagai
penanggung jawab dalam:
1. Memantau dan menjaga kegiatan usaha agar tidak menyimpang dari ketentuan yang berlaku.
2. Memantau dan menjaga kepatuhan Perseroan terhadap perjanjian dan komitmen yang
Direktur Manajemen Risiko
dibuat Perseroan dengan pihak ketiga.
Director of Risk Management
Lead, direct, and control the formulation of policies and decisions related to business activities as
stipulated in the Company’s Articles of Association, and act as the person in charge of:
1. Monitoring and ensuring that business activities do not deviate from applicable regulations.
2. Monitoring and ensuring the Company’s compliance with agreements and commitments
entered into with third parties.
480
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PELAKSANAAN RAPAT INTERNAL IMPLEMENTATION OF INTERNAL
DIREKSI, RAPAT GABUNGAN MEETINGS OF THE BOARD OF
DEWAN KOMISARIS DAN DIREKSI DIRECTORS AND CONSULTATION
SERTA RAPAT KONSULTASI MEETINGS BETWEEN THE BOARD
DEWAN KOMISARIS DAN DIREKSI OF COMMISSIONERS AND THE
BOARD OF DIRECTORS
Ketentuan dalam Peraturan Menteri Keuangan No. 88/ Regulation of the Minister of Finance No. 88/PMK.06/2015
PMK.06/2015 tentang Penerapan Tata Kelola Perusahaan concerning the Implementation of Good Corporate
yang Baik pada Perusahaan Perseroan (Persero) di Governance in Limited Liability Companies (Persero)
bawah Pembinaan dan Pengawasan Menteri Keuangan under the Guidance and Supervision of the Minister
menegaskan bahwa Direksi harus menyelenggarakan of Finance stipulates that the Board of Directors must
rapat secara rutin minimal satu kali setiap bulan convene meetings regularly, at least once a month, and
dan dapat melibatkan Dewan Komisaris apabila may invite the Board of Commissioners. Each meeting of
diperlukan. Setiap penyelenggaraan rapat Direksi wajib the Board of Directors must be documented in meeting
didokumentasikan dalam bentuk risalah rapat yang minutes, which include the opinions expressed during
memuat pandangan dan pendapat peserta rapat, the meeting, resolutions, and conclusions reached, an
keputusan serta kesimpulan yang diambil, daftar hadir, attendance list, and reasons for any absences of Board
serta alasan ketidakhadiran anggota Direksi apabila members, if applicable. Furthermore, each member of
terdapat pihak yang tidak hadir. Selanjutnya, seluruh the Board of Directors is entitled to receive a copy of
anggota Direksi berhak memperoleh salinan risalah the meeting minutes, regardless of whether they were
rapat tersebut, baik yang bersangkutan hadir maupun present at the meeting. The complete provisions and
tidak. Panduan lengkap terkait mekanisme dan tata cara rules for Board of Directors meetings are outlined in the
pelaksanaan rapat Direksi diatur secara jelas dalam Company’s Board Manual.
Board Manual Perseroan.
Rapat Internal Direksi Internal Meetings of the Board of Directors
Direksi menyelenggarakan rapat internal sebanyak 40 Throughout 2025, the Board of Directors convened 40
(empat puluh) kali sepanjang tahun 2025 sebagai bagian (forty) internal meetings as part of its strategic decision-
dari mekanisme pengambilan keputusan strategis serta making process and to strengthen coordination in
penguatan koordinasi pengelolaan Perseroan. Setiap managing the Company. Each meeting was conducted
rapat dilaksanakan sesuai agenda yang telah ditetapkan in accordance with the predetermined agenda and
dan dihadiri oleh anggota Direksi sesuai peran serta attended by members of the Board of Directors in line
tanggung jawabnya. Rincian jadwal penyelenggaraan, with their respective roles and responsibilities. Details of
agenda rapat, serta tingkat kehadiran masing-masing the meeting schedule, agendas, and attendance rates
anggota Direksi disajikan sebagai berikut: of each member of the Board of Directors are presented
as follows:
Kehadiran Direksi
Tanggal Rapat Agenda Attendance of the Board of Directors
No
Date of Meeting Agenda
RH FP SJG PM AP PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Rapat Direksi Update Kegiatan Perseroan
8 Januari 2025
1. Board of Directors Meeting – Update on Company V V V V V
January 8, 2025
Activities
Pembahasan perpindahan Karyawan Direktorat PPPP
9 Januari 2025
2. Discussion on the transfer of employees of the V V V V V
January 9, 2025
Directorate of PPPP
Pembahasan Hasil Rekrutmen Karyawan Team
Leader Financial & Transaction Advisory Divisi
Jasa Konsultasi dan Promosi Struktural Karyawan
Kepala Divisi Sumber Daya Manusia PT Sarana Multi
9 Januari 2025 Infrastruktur (Persero)
3. V V V V V
January 9, 2025 Discussion on the results of the recruitment of the
Team Leader Financial & Transaction Advisory,
Consulting Services Division, and the structural
promotion of the Head of the Human Capital
Division of PT Sarana Multi Infrastruktur (Persero)
Pembahasan Kontrak Kinerja Direksi 2025
14 Januari 2025
4. Discussion on the 2025 Performance Contract of the V V V V V
January 14, 2025
Board of Directors
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05 Tata Kelola Perusahaan
Good Corporate Governance
Kehadiran Direksi
Tanggal Rapat Agenda Attendance of the Board of Directors
No
Date of Meeting Agenda
RH FP SJG PM AP
1. Tindak Lanjut Arahan Menteri Keuangan
Republik pada Leaders Office Meeting.
2. Diskusi dan penyampaian update pekerjaan
masing-masing Direktorat.
20 Januari 2025
5. 1. Follow-up to the directives of the Minister of V V V V V
January 20, 2025
Finance of the Republic at the Leaders Office
Meeting.
2. Discussion and presentation of work updates
from each Directorate.
Persetujuan Sistem Environmental & Social (ESS)
24 Januari 2025 Rating PT SMI
6. V V V V V
January 24, 2025 Approval of the Environmental & Social (ESS) Rating
System of PT SMI
Diskusi dan penyampaian update pekerjaan
5 Februari 2025 masing-masing Direktorat
7. V V V V V
February 5, 2025 Discussion and presentation of work updates from
each Directorate
Diskusi dan penyampaian update pekerjaan
19 Februari 2025 masing-masing Direktorat
8. V V V V V
February 19, 2025 Discussion and presentation of work updates from
each Directorate
Diskusi dan penyampaian update pekerjaan
5 Maret 2025 masing-masing Direktorat
9. V V V V V
March 5, 2025 Discussion and presentation of work updates from
each Directorate
Penentuan Kupon Final sehubungan dengan
Rencana Penerbitan Penawaran Umum
Berkelanjutan (“PUB”) Obligasi Berkelanjutan IV
6 Maret 2025
10 Tahap III Tahun 2025 V V V V V
March 6, 2025
Determination of the Final Coupon in relation to
the Planned Issuance of Public Offering of Shelf
Registration Bonds IV Tranche III Year 2025
Penentuan Struktur Final sehubungan dengan
Rencana Penerbitan PUB Obligasi Berkelanjutan IV
Sarana Multi Infrastruktur Tahap III Tahun 2025
7 Maret 2025
11. Determination of the Final Structure in relation to V V V V V
March 7, 2025
the Planned Issuance of Public Offering of Shelf
Registration Bonds IV Sarana Multi Infrastruktur
Tranche III Year 2025
Diskusi dan penyampaian update pekerjaan
25 Maret 2025 masing-masing Direktorat
12. V V V V V
March 25, 2025 Discussion and presentation of work updates from
each Directorate
1. Diskusi dan Penyampaian Update Pekerjaan
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Masing-Masing Direktorat;
2. Persetujuan Pemberian Fasilitas Pembiayaan
17 April 2025 Publik Non Penugasan.
13. V V V* V V
April 17, 2025 1. Discussion and presentation of work updates
from each Directorate;
2. Approval for the Provision of Non-Assignment
Public Financing Facilities
Diskusi dan Penyampaian Update Pekerjaan
5 Mei 2025 Masing-Masing Direktorat
14. V V V V V
May 5, 2025 Discussion and presentation of work updates from
each Directorate
Diskusi dan Penyampaian Update Pekerjaan
26 Mei 2025 Masing-Masing Direktorat
15. V V V V V
May 26, 2025 Discussion and presentation of work updates from
each Directorate
Update Risk Event: Penyalahgunaan Email
2 Juni 2025
16. Karyawan PT SMI V V V V V
June 2, 2025
Risk Event Update: Misuse of PT SMI Employee Email
Diskusi dan Penyampaian Update Pekerjaan
11 Juni 2025 Masing-Masing Direktorat
17. V V V V V
June 11, 2025 Discussion and presentation of work updates from
each Directorate
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Kehadiran Direksi
Tanggal Rapat Agenda Attendance of the Board of Directors
No
Date of Meeting Agenda
RH FP SJG PM AP
Penentuan Kupon Final sehubungan dengan
Rencana Penerbitan Penawaran Umum
Berkelanjutan (“PUB”) Obligasi Keberlanjutan
Berkelanjutan I Tahap I (“Sustainability Bond”)
23 Juni 2025
18. Tahun 2025 V V* V V V
June 23, 2025
Determination of the Final Coupon in relation to
the Planned Issuance of the Public Offering of
Shelf Registration Bonds I Tranche I (“Sustainability
Bonds) Year 2025
Update Terkait Penebusan Agunan berupa Tanah
dan Jetty Pelabuhan Terminal Untuk Kepentingan
Sendiri (“TUKS”) PT Bosowa Bandar Indonesia (“PT
26 Juni 2025 BBI”)
19. V V* V V V
June 26, 2025 Update regarding the Redemption of Collateral
in the form of Land and Jetty of Terminal for Own
Interest (“TUKS”) of PT Bosowa Bandar Indonesia
(“PT BBI”)
Diskusi dan Penyampaian Update Pekerjaan
30 Juni 2025 Masing-Masing Direktorat V
20. V V V V
June 30, 2025 Discussion and presentation of work updates from
each Directorate
Pemberian Persetujuan terkait Project Internal
Control over Financial Reporting (ICoFR):
1. Pembentukan Organ Steering Committee ICoFR
termasuk tugas dan tanggung jawabnya; dan
2. Pendelegasian wewenang Direksi kepada
Direktur Operasional & Keuangan terkait
dengan ruang lingkup ICoFR.
4 Juli 2025 3. Pemaparan Ruang Lingkup IcoFR
21. V V V V V
July 4, 2025 Approval related to the Internal Control over
Financial Reporting (ICoFR) Project:
1. Establishment of the ICoFR Steering Committee
including its duties and responsibilities; and
2. Delegation of the Board of Directors’ authority to
the Director of Operations & Finance related to
the scope of ICoFR.
3. Presentation of the Scope of ICoFR.
Sistem Environmental & Social (E&S) Rating PT
7 Juli 2025 Sarana Multi Infrastruktur (Persero)
22. V V V V V
July 7, 2025 Environmental & Social (E&S) Rating System of PT
Sarana Multi Infrastruktur (Persero)
Diskusi dan Penyampaian Update Pekerjaan
16 Juli 2025 Masing-Masing Direktorat
23. V V V V V
July 16, 2025 Discussion and presentation of work updates from
each Directorate
Diskusi dan Penyampaian Update Pekerjaan
30 Juli 2025 Masing-Masing Direktorat
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
24. V V V V V
July 30, 2025 Discussion and presentation of work updates from
each Directorate
1. Diskusi dan Penyampaian Update Pekerjaan
Masing-Masing Direktorat; dan
2. Persiapan penyusunan RKAP Tahun 2026.
13 Agustus 2025
25. 1. Discussion and presentation of work updates V V V V V
August 13, 2025
from each Directorate;
2. Preparation for the drafting of the Company’s
2026 Work Plan and Budget
1. Diskusi Peningkatan Portofolio Negative Pledge
dan Clean Basis (“NPCB”); dan
2. Penyampaian Hasil Simulasi Stress Test
15 Agustus 2025 Semester 1 Tahun 2025
26. V V V V V
August 15, 2025 1. Discussion on the Increase of the Negative
Pledge and Clean Basis (“NPCB”) Portfolio; and
2. Presentation of the Semester I 2025 Stress Test
Simulation Results
Diskusi dan Penyampaian Update Pekerjaan
3 September 2025 Masing-Masing Direktorat
27. V V V V V
September 3, 2025 Discussion and presentation of work updates from
each Directorate
483
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05 Tata Kelola Perusahaan
Good Corporate Governance
Kehadiran Direksi
Tanggal Rapat Agenda Attendance of the Board of Directors
No
Date of Meeting Agenda
RH FP SJG PM AP
1. Pembahasan tentang SMV (Special Mission
Vehicles) Business Collaboration; dan
2. Diskusi dan Penyampaian Update Pekerjaan
17 September 2025 Masing-Masing Direktorat.
28.
September 17, 2025 1. Discussion on SMV (Special Mission Vehicles)
Business Collaboration; and
2. Discussion and presentation of work updates
from each Directorate.
Diskusi dan Penyampaian Update Pekerjaan
30 September 2025 Masing-Masing Direktorat
29. V V V V V
September 30, 2025 Discussion and presentation of work updates from
each Directorate
1. Pembahasan Surat Direktorat Jenderal
Perbendaharaan – Direktorat Sistem
Manajemen Investasi Nomor: S-258/PB.4/2025
perihal Kebijakan Penetapan Tingkat Imbal
Hasil Investasi Pemerintah pada PT SMI; dan
2. Diskusi dan Penyampaian Update Pekerjaan
Masing-Masing Direktorat.
17 Oktober 2025
30. 1. Discussion on the Letter of the Directorate V V V V V
October 1, 2025
General of Treasury – Directorate of Investment
Management System Number: S-258/PB.4/2025
regarding the Policy on Determining the
Government Investment Return Rate at PT SMI;
and
2. Discussion and presentation of work updates
from each Directorate.
Penentuan Kupon Final sehubungan dengan
Rencana Penerbitan Penawaran Umum
Berkelanjutan (“PUB”) Obligasi Berkelanjutan IV
Tahap IV dan Sukuk Mudharabah III Tahap II Tahun
29 Oktober 2025
31. 2025. V V V V V
October 29, 2025
Determination of the Final Coupon in relation to
the Planned Issuance of Public Offering of Shelf
Registration Bonds IV Tranche IV and Sukuk
Mudharabah III Tranche II Year 2025.
Penentuan Struktur Final sehubungan dengan
Rencana Penerbitan PUB Obligasi Berkelanjutan
IV Sarana Multi Infrastruktur Tahap IV & PUB Sukuk
Mudharabah III Sarana Multi Infrastruktur Tahap II.
30 Oktober 2025
32. Determination of the Final Structure in relation to V V V V V
October 30, 2025
the Planned Issuance of Public Offering of Shelf
Registration Bonds IV Sarana Multi Infrastruktur
Tranche IV & Public Offering of Sukuk Mudharabah III
Sarana Multi Infrastruktur Tranche II.
Diskusi dan Penyampaian Update Pekerjaan
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
3 November 2025 Masing-Masing Direktorat.
33. V V V V V
November 3, 2025 Discussion and presentation of work updates from
each Directorate.
5 November 2025 Update Divestasi PT CCT .
34. V V V V V
November 5, 2025 Update on the Divestment of PT CCT.
Pembahasan Tindak Lanjut Hasil Kunjungan Menteri
Keuangan ke PT SMI 12 November 2025.
14 November 2025
35. Discussion on the Follow-up to the Results of the V V V V V
November 14, 2025
Minister of Finance’s Visit to PT SMI on November 12,
2025.
Diskusi dan Penyampaian Update Pekerjaan
25 November 2025 Masing-Masing Direktorat.
36. V V V V V
November 25, 2025 Discussion and presentation of work updates from
each Directorate.
484
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Kehadiran Direksi
Tanggal Rapat Agenda Attendance of the Board of Directors
No
Date of Meeting Agenda
RH FP SJG PM AP
1. Diskusi dan Penyampaian Update Pekerjaan
Masing-Masing Direktorat.
2. Penyampaian Materi Rapat dengan Wakil
Menteri Keuangan I terkait Penanganan Darurat
8 Desember 2025 Pasca Bencana Sumatera.
37. V V V V V
December 8, 2025 1. Discussion and presentation of work updates
from each Directorate.
2. Presentation of Meeting Materials with the
Deputy Minister of Finance I regarding Post-
Disaster Emergency Handling in Sumatra.
Rapat Direksi Pembiayaan Pinjaman Lampung
15 Desember 2025 Tengah.
38. V V V V V
December 15, 2025 Board of Directors Meeting on Central Lampung
Loan Financing
22 Desember 2025 Update Kegiatan Masing-Masing Direktorat.
39. V V V V V
December 22, 2025 Update on Activities of Each Directorate.
Persetujuan Annual Review Cadangan Kerugian
Penurunan Nilai (“CKPN”) Pernyatan Standar
Akuntansi Keuangan 71 (“PSAK 71”) Perseroan Tahun
29 Desember 2025 2025.
40. V* V V* V V
December 29, 2025 Approval of the Annual Review of Allowance
for Impairment Losses (“CKPN”) Statement of
Financial Accounting Standards 71 (“PSAK 71”) of the
Company Year 2025.
Jumlah Kehadiran
40 40 40 40 40
Total Attendance
Persentase Kehadiran
100% 100% 100% 100% 100%
Percentage of Attendance
Keterangan: Notes:
V : Hadir V : Present
V* : Hadir dengan Surat Kuasa V* : Present by Proxy
X : Tidak Hadir X : Absent
RH : Reynaldi Hermansjah RH : Reynaldi Hermansjah
FP : Faaris Pranawa FP : Faaris Pranawa
SJG : Sylvi Juniarty Gani SJG : Sylvi Juniarty Gani
PM : Pradana Murti PM : Pradana Murti
AP : Aradita Priyanti AP : Aradita Priyanti
Rapat Gabungan Dewan Komisaris dan Direksi
Joint Meeting of the Board of Commissioners and the Board of Directors
Tanggal Kehadiran Direksi
Agenda Attendance of the Board of Directors
No Rapat Agenda
Date of Meeting RH FP SJG PM AP
1. Update Laporan Kinerja Perseroan bulan Desember
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
2024 (termasuk Laporan Manajemen Triwulan IV 2024,
Laporan Realisasi Rencana Bisnis Semester II 2024,
Update GRC, ALM dan Kinerja Anak Perusahaan);
2. Hal Strategis yang Perlu Disampaikan ke Dewan
Komisaris (Progress Transformasi PT SMI, Pelaksanaan
5 Februari 2025 Mandat ETM, dan lainnya).
1. V V V V V
February 5, 2025 1. Update on the Company’s Performance Report for
December 2024 (including Q4 2024 Management
Report, Realization of Semester II 2024 Business Plan,
updates on GRC, ALM, and Subsidiaries’ Performance);
2. Strategic matters to be conveyed to the Board of
Commissioners (Progress of PT SMI Transformation,
implementation of the ETM mandate, etc).
Persetujuan Dewan Komisaris atas Form Evaluasi KUMR.
19 Februari 2025
2. Approval by the Board of Commissioners on the KUMR V V V V V
February 19, 2025
Evaluation Form.
Pembahasan Laporan Gejala Penurunan Kinerja Januari
28 Februari 2025 2025.
3. V V V V V
February 28, 2025 Discussion on the Early Warning Report on Performance
Decline – January 2025.
485
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05 Tata Kelola Perusahaan
Good Corporate Governance
Rapat Gabungan Dewan Komisaris dan Direksi
Joint Meeting of the Board of Commissioners and the Board of Directors
Tanggal Kehadiran Direksi
Agenda Attendance of the Board of Directors
No Rapat Agenda
Date of Meeting RH FP SJG PM AP
1. Update Laporan Kinerja Perseroan bulan Januari
2025 (termasuk Update GRC, ALM, dan Kinerja Anak
Perusahaan);
2. Update Progress Audit Laporan Keuangan; dan
3. Penyampaian Rencana Pembiayaan LF MMQ kepada
PTN BH UGM.
3 Maret 2025
4. 1. Update on the Company’s Performance Report for V V V V V
March 3, 2025
January 2025 (including updates on GRC, ALM, and
Subsidiaries’ Performance);
2. Update on the progress of the Financial Statement
Audit; and
3. Presentation of the LF MMQ Financing Plan to PTN BH
UGM.
1. Update Laporan Kinerja Perseroan bulan Februari
2025 (termasuk Update GRC, ALM, dan Kinerja Anak
Perusahaan); dan
2. Update kebijakan sistem pengendalian internal
26 Maret 2025 dan pelaksanaannya.
5. V V V V V
March 26, 2025 1. Update on the Company’s Performance Report for
February 2025 (including updates on GRC, ALM, and
Subsidiaries’ Performance); and
2. Update on the Internal Control System policy and its
implementation.
Laporan Progress Pembiayaan Publik dan Rencana
10 April 2025 Pembiayaan Publik LKBB.
6. V V V V V
April 10, 2025 Progress Report on Public Financing and Public Financing
Plan for LKBB.
Update Laporan Kinerja Perseroan bulan Maret 2025
(termasuk Laporan Manajemen Triwulan I-2025, Update
30 April 2025 GRC, ALM, dan kinerja anak perusahaan).
7. V V V V V
April 30, 2025 Update on the Company’s Performance Report for March
2025 (including Q1 2025 Management Report, updates on
GRC, ALM, and Subsidiaries’ Performance).
1. Update Laporan Kinerja Perseroan bulan April 2025
(termasuk Update GRC, ALM, dan Kinerja Anak
Perusahaan); dan
2. Update Kebijakan Akuntansi dan Penyusunan Laporan
Keuangan Sesuai Dengan Standar Akuntansi Yang
2 Juni 2025 Berlaku Umum di Indonesia (SAK).
8. V V V V V
June 2, 2025 1. Update on the Company’s Performance Report for April
2025 (including updates on GRC, ALM, and Subsidiaries’
Performance); and
2. Update on Accounting Policies and the Preparation of
Financial Statements in accordance with Indonesian
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Financial Accounting Standards (SAK).
Pembahasan Laporan Gejala Penurunan Kinerja Mei 2025
1 Juli 2025
9. Discussion on the Early Warning Report on Performance V V V V V
July 1, 2025
Decline – May 2025.
1. Update Laporan Kinerja Perseroan bulan Mei 2025
(termasuk Update GRC, ALM, dan Kinerja Anak
Perusahaan);
2. Update Kebijakan Sistem Teknologi Informasi
Perusahaan dan Pelaksanannya; dan
3. Update Divestasi PT Cimanggis Cibitung Tollways.
7 Juli 2025
10 1. Update on the Company’s Performance Report for May V V V V V
July 7, 2025
2025 (including updates on GRC, ALM, and Subsidiaries’
Performance);
2. Update on the Company’s Information Technology
System policy and its implementation; and
3. Update on the divestment of PT Cimanggis Cibitung
Tollways.
486
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Rapat Gabungan Dewan Komisaris dan Direksi
Joint Meeting of the Board of Commissioners and the Board of Directors
Tanggal Kehadiran Direksi
Agenda Attendance of the Board of Directors
No Rapat Agenda
Date of Meeting RH FP SJG PM AP
1. Update Laporan Kinerja Perseroan bulan Juni 2025
(termasuk Laporan Manajemen Triwulan II-2025,
Update GRC, ALM, dan kinerja anak perusahaan); dan
2. Kebijakan Pengelolaan Sumber Daya Manusia,
khususnya tentang manajemen karir di Perusahaan,
sistem dan prosedur promosi, mutasi, dan demosi di
4 Agustus 2025 Perusahaan, dan pelaksanaannya.
11. V V V V V
August 4, 2025 1. Update on the Company’s Performance Report for June
2025 (including Q2 2025 Management Report, updates
on GRC, ALM, and Subsidiaries’ Performance); and
2. Human Capital Management Policy, particularly
on career management, promotion, rotation, and
demotion systems and procedures, and their
implementation.
Pembahasan Pelepasan Saham dan Pengalihan Pokok
Pinjaman Pemegang Saham pada PT Cimanggis Cibitung
4 Agustus 2025 Tollways.
12. V V V V V
August 4, 2025 Discussion on the Share Disposal and Transfer of
Shareholder Loan Principal at PT Cimanggis Cibitung
Tollways.
1. Update Laporan Kinerja Perseroan bulan Juli 2025
(termasuk Update GRC, ALM, dan kinerja anak
perusahaan); dan
1 September 2025 2. Kebijakan Pengadaan dan Pelaksanaannya.
13. V V V V V
September 1, 2025 1. Update on the Company’s Performance Report for July
2025 (including updates on GRC, ALM, and Subsidiaries’
Performance); and
2. Procurement Policy and its implementation.
1. Update Laporan Kinerja Perseroan bulan Agustus
2025 (termasuk Update GRC, ALM, dan kinerja anak
perusahaan); dan
2. Kebijakan Mutu atau Kepuasan Pelayanan serta
pelaksanaan kebijakan tersebut sesuai bidang usaha
6 Oktober 2025 Perseroan.
14. V V V V V*
October 6, 2025 1. Update on the Company’s Performance Report for
August 2025 (including updates on GRC, ALM, and
Subsidiaries’ Performance); and
2. Service Quality or Customer Satisfaction Policy and its
implementation in accordance with the Company’s
line of business.
Pembahasan Awal RKAP Tahun 2026.
8 Oktober 2025
15. Preliminary Discussion of the Company’s 2026 Work Plan V V V V V*
October 8, 2025
and Budget.
Pembahasan Laporan Gejala Penurunan Kinerja
20 Oktober 2025 September 2025.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
16. V V V V V
October 20, 2025 Discussion on the Early Warning Report on Performance
Decline – September 2025.
Update Laporan Kinerja Perseroan bulan September 2025
(termasuk Laporan Manajemen Triwulan III-2025, Update
5 November 2025 GRC, ALM, dan kinerja anak perusahaan).
17. V V V V V
November 5, 2025 Update on the Company’s Performance Report for
September 2025 (including Q3 2025 Management Report,
updates on GRC, ALM, and Subsidiaries’ Performance).
487
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05 Tata Kelola Perusahaan
Good Corporate Governance
Rapat Gabungan Dewan Komisaris dan Direksi
Joint Meeting of the Board of Commissioners and the Board of Directors
Tanggal Kehadiran Direksi
Agenda Attendance of the Board of Directors
No Rapat Agenda
Date of Meeting RH FP SJG PM AP
1. Persiapan RUPS RKAP 2026;
2. Update Laporan Kinerja Perseroan bulan Oktober
2025 (termasuk Update GRC, ALM, dan kinerja anak
perusahaan); dan
3. Pembahasan Laporan Penerapan APU PPT PPSPM.
1 Desember 2025 1. Preparation for GMS on the Company’s 2026 Work Plan
18. V V V V V
December 1, 2025 and Budget;
2. Update on the Company’s Performance Report for
October 2025 (including updates on GRC, ALM, and
Subsidiaries’ Performance); and
3. Discussion on the Report on the Implementation of AML,
CTF and CPF-WMD.
Jumlah Kehadiran
18 18 18 18 18
Total Attendance
Persentase Kehadiran
100% 100% 100% 100% 100%
Percentage of Attendance
Keterangan: Notes:
V : Hadir V : Present
V* : Hadir dengan Surat Kuasa V* : Present by Proxy
X : Tidak Hadir X : Absent
RH : Reynaldi Hermansjah RH : Reynaldi Hermansjah
FP : Faaris Pranawa FP : Faaris Pranawa
SJG : Sylvi Juniarty Gani SJG : Sylvi Juniarty Gani
PM : Pradana Murti PM : Pradana Murti
AP : Aradita Priyanti AP : Aradita Priyanti
Rapat Konsultasi dengan Dewan Komisaris Consultation Meetings with the Board of
Commissioners
Selain rapat internal dan rapat gabungan, Direksi In addition to internal meetings and joint meetings, the
Perseroan juga mengadakan Rapat Konsultasi yang Board of Directors also held Consultation Meetings for
diselenggarakan untuk agenda dengan kriteria tertentu agendas meeting certain criteria as stipulated in the
sebagaimana diatur dalam Board Manual. Di tahun 2025, Board Manual. In 2025, the Company conducted 16
Perseroan telah menyelenggarakan 16 (enam belas) (sixteen) Consultation Meetings, with the attendance
kali Rapat Konsultasi dengan rincian kehadiran Direksi details of the Board of Directors as follows:
sebagai berikut:
Kehadiran Direksi
Tanggal Rapat Agenda Attendance of the Board of Directors
No Agenda
Date of Meeting
RH FP SJG PM AP
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Konsultasi Pembiayaan PT Kereta Api Indonesia
19 Februari 2025 (Persero)
1. V V V V V
February 19, 2025 Financing Consultation for PT Kereta Api
Indonesia (Persero)
Konsultasi Pembiayaan PT Medco Cahaya
10 April 2025 Geothermal
2. V V V V V
April 10, 2025 Financing Consultation for PT Medco Cahaya
Geothermal
Konsultasi Pembiayaan PT Armada Gema
30 April 2025 Nusantara
3. V V V V V
April 30, 2025 Financing Consultation for PT Armada Gema
Nusantara
1. Konsultasi Usulan Pembiayaan PT Oki Pulp &
Paper Mills; dan
2. Konsultasi Usulan Pembiayaan PT Kereta Api
26 Mei 2025 Indonesia – LRT Jabodebek.
4. V V V V V
May 26, 2025 1. Consultation on Proposed Financing for PT
OKI Pulp & Paper Mills; and
2. Consultation on Proposed Financing for PT
Kereta Api Indonesia – LRT Jabodebek.
488
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Kehadiran Direksi
Tanggal Rapat Agenda Attendance of the Board of Directors
No Agenda
Date of Meeting
RH FP SJG PM AP
1. Konsultasi Usulan Pembiayaan PT Citra
Marga Nusaphala Persada; dan
2. Konsultasi Usulan Pembiayaan PT
24 Juni 2025 Jasamarga Jalanlayang Cikampek.
5. V V* V V V
June 24, 2025 1. Consultation on Proposed Financing for PT
Citra Marga Nusaphala Persada; and
2. Consultation on Proposed Financing for PT
Jasamarga Jalanlayang Cikampek.
Konsultasi Perpanjangan Fasilitas Modal Kerja
Revolving dan Penambahan Pembiayaan
Investasi kepada PT Krakatau Bandar Samudera.
4 Agustus 2025
6. Consultation on the Extension of a Revolving V V V V V
August 4, 2025
Working Capital Facility and Additional
Investment Financing for PT Krakatau Bandar
Samudera.
1. Konsultasi Pemberian Fasilitas Corporate
Financing kepada PT Pertamina
International Shipping; dan
2. Konsultasi Pemberian Pembiayaan kepada
PT Pertamina Hulu Energi (Corporate
19 Agustus 2025 Financing – Selldown dari porsi BNI).
7. V V V V V
August 19, 2025 1. Consultation on the Provision of a Corporate
Financing Facility to PT Pertamina
International Shipping; and
2. Consultation on the Provision of Financing
to PT Pertamina Hulu Energi (Corporate
Financing – Selldown from BNI portion).
Konsultasi Usulan Pembiayaan kepada HK Akses
20 Agustus 2025 Tanjung Priok.
8. V V V V V
August 20, 2025 Consultation on Proposed Financing for HK
Akses Tanjung Priok.
1. Konsultasi Usulan Pembiayaan kepada PT
Tower Bersama Infrastructure Tbk; dan
2. Konsultasi Pemberian SHL Bridging kepada
PT Cimanggis Cibitung Tollways.
2 September 2025
9. 1. Consultation on Proposed Financing for PT V V V V V
September 2, 2025
Tower Bersama Infrastructure Tbk; and
2. Consultation on the Provision of a
Shareholder Loan (SHL) Bridging Facility to
PT Cimanggis Cibitung Tollways.
1. Rencana Pemberian Fasilitas Pembiayaan
Sindikasi a.n. PT OKI Pulp & Paper Mills;
2. Pemberian Fasilitas Pembiayaan Non
Cash kepada PT Pelabuhan Patimban
Internasional;
3. Restrukturisasi Fasilitas Pembiayaan kepada
PT PP Semarang Demak; dan
4. Perpanjangan Divestasi PT Cimanggis
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
23 September 2025
Cibitung Tollways.
10 September 23, V V V V V*
1. Proposed Provision of a Syndicated
2025
Financing Facility on behalf of PT OKI Pulp &
Paper Mills;
2. Provision of a Non-Cash Financing Facility to
PT Pelabuhan Patimban Internasional;
3. Restructuring of Financing Facilities for PT PP
Semarang Demak; and
4. Extension of the Divestment of PT Cimanggis
Cibitung Tollways.
Konsultasi Pembiayaan PT Kereta Commuter
10 Oktober 2025 Indonesia.
11. V V V V V*
October 10, 2025 Financing Consultation for PT Kereta Commuter
Indonesia.
15 Oktober 2025 Konsultasi Pembiayaan PLN Batam.
12. V V V V V*
October 15, 2025 Consultation for PLN Batam.
Konsultasi Pemkab Badung.
20 Oktober 2025
13. Consultation with the Regency Government of V V V V V
October 20, 2025
Badung.
489
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05 Tata Kelola Perusahaan
Good Corporate Governance
Kehadiran Direksi
Tanggal Rapat Agenda Attendance of the Board of Directors
No Agenda
Date of Meeting
RH FP SJG PM AP
Konsultasi Pembiayaan PT Hutama Panorama
1 Desember 2025 Sitinjau Lauik.
14. V V V V V
December 1, 2025 Financing Consultation for PT Hutama
Panorama Sitinjau Lauik.
Konsultasi Pembiayaan Corporate Financing
15 Desember 2025 Project Archipelago (InJourney Group).
15. V V V V V
December 15, 2025 Consultation for Corporate Financing – Project
Archipelago (InJourney Group).
19 Desember 2025 Konsultasi Pembiayaan kepada PT PLN (Persero)
16. V V V V V
December 19, 2025 Consultation for PT PLN (Persero)
Jumlah Kehadiran
16 16 16 16 16
Total Attendance
Persentase Kehadiran
100% 100% 100% 100% 100%
Percentage of Attendance
Keterangan: Notes:
V : Hadir V : Present
V* : Hadir dengan Surat Kuasa V* : Present by Proxy
X : Tidak Hadir X : Absent
RH : Reynaldi Hermansjah RH : Reynaldi Hermansjah
FP : Faaris Pranawa FP : Faaris Pranawa
SJG : Sylvi Juniarty Gani SJG : Sylvi Juniarty Gani
PM : Pradana Murti PM : Pradana Murti
AP : Aradita Priyanti AP : Aradita Priyanti
Kehadiran Direksi dalam Rapat Umum Attendance of the Board of Directors at the
Pemegang Saham Tahunan Annual General Meeting of Shareholders
Frekuensi kehadiran Direksi pada pelaksanaan RUPS The frequency of attendance of the Board of Directors
Tahunan sepanjang tahun 2025 disajikan pada tabel at the Annual GMS throughout 2025 is presented in the
berikut. following table.
Kehadiran Direksi
Tanggal Rapat Agenda Attendance of the Board of Directors
No Agenda
Date of Meeting
RH FP SJG PM AP
Persetujuan atas Laporan Tahunan Perseroan
Tahun Buku 2024 yang mencakup:
1. Pengesahan Laporan Keuangan Perseroan
Tahun Buku 2024;
2. Pengesahan atas Laporan Keuangan dan
Laporan Pelaksanaan Tanggung Jawab Sosial
dan Lingkungan Tahun Buku 2024;
3. Persetujuan Laporan Tugas Pengawasan Dewan
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Komisaris Perseroan Tahun Buku 2024;
4. Persetujuan Laporan Tugas Pengawasan Dewan
Pengawas Syariah Perseroan Tahun Buku 2024;
dan
7 Mei 2025
1. 5. Pemberian Pelunasan dan Pembebasan V V V V V
May 7, 2025
Sepenuhnya (Acquit et de Charge) kepada
Seluruh Anggota Dewan Komisaris, dan Direksi
Perseroan atas Tindakan Pengawasan dan
Pengurusan yang telah dijalankan selama
Tahun Buku 2024;
6. Penetapan Penggunaan Laba Bersih Perseroan
Tahun Buku 2024; dan
7. Pembayaran Tantiem Dewan Komisaris
dan Direksi berdasarkan Kinerja Tahun Buku
2024 serta Penyesuaian Remunerasi Dewan
Komisaris dan Direksi Perseroan untuk Tahun
Buku 2025.
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Kehadiran Direksi
Tanggal Rapat Agenda Attendance of the Board of Directors
No Agenda
Date of Meeting
RH FP SJG PM AP
Approval of the Company’s Annual Report for 2024
Fiscal Year, which includes:
1. Ratification of the Company’s Financial
Statements for 2024 Fiscal Year;
2. Ratification of Financial Report and Corporate
Social Responsibility Report for 2024 Fiscal Year;
3. Approval of the Supervisory Report of the Board
of Commissioners for 2024 Fiscal Year;
4. Approval of the Supervisory Report of the Sharia
Supervisory Board for 2024 Fiscal Year; and
5. Granting of full release and discharge (Acquit
et de Charge) to all members of the Board
of Commissioners and the Board of Directors
for the supervisory and management actions
performed during 2024 Fiscal Year;
6. Determination of the appropriation of the
Company’s net profit for 2024 Fiscal Year; and
7. Payment of tantiem to the Board of
Commissioners and the Board of Directors
based on performance for 2024 Fiscal Year,
as well as adjustment of the remuneration of
the Board of Commissioners and the Board of
Directors for 2025 Fiscal Year.
Pembahasan dan Persetujuan Rencana Kerja dan
Anggaran Perusahaan Perseroan Tahun 2026 serta
Pembahasan dan Persetujuan Kontrak Kinerja
Direksi, Kontrak Kinerja Dewan Komisaris, dan
Kontrak Kinerja Dewan Pengawas Syariah Tahun
10 Desember 2025
2. 2026. V V V V V
December 10, 2025
Discussion and approval of the Company’s 2026
Work Plan and Budget, as well as discussion and
approval of the 2026 Performance Contracts of the
Board of Directors, the Board of Commissioners, and
the Sharia Supervisory Board.
Jumlah Kehadiran
2 2 2 2 2
Total Attendance
Persentase Kehadiran
100% 100% 100% 100% 100%
Percentage of Attendance
Keterangan: Notes:
V : Hadir V : Present
V* : Hadir dengan Surat Kuasa V* : Present by Proxy
X : Tidak Hadir X : Absent
RH : Reynaldi Hermansjah RH : Reynaldi Hermansjah
FP : Faaris Pranawa FP : Faaris Pranawa
SJG : Sylvi Juniarty Gani SJG : Sylvi Juniarty Gani
PM : Pradana Murti PM : Pradana Murti
AP : Aradita Priyanti AP : Aradita Priyanti
PROGRAM PENGENALAN BAGI ORIENTATION PROGRAM
ANGGOTA DIREKSI BARU FOR NEW MEMBERS OF THE
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
BOARD OF DIRECTORS
Perseroan menerapkan program pengenalan atau The Company implements an orientation program for
orientasi bagi pengurus perusahaan yang baru, newly appointed members of management, as stipulated
sebagaimana tercantum dalam Board Manual. Upaya in the Board Manual. This initiative serves as an important
ini menjadi mekanisme penting untuk memastikan mechanism to ensure that each new member of the
setiap anggota Direksi yang baru segera memahami Board of Directors gains a comprehensive understanding
pengelolaan Perseroan secara menyeluruh sehingga of the Company’s management, enabling them to adapt
dapat beradaptasi, memperkuat pemahaman mengenai quickly, strengthen their understanding of governance
tata kelola dan proses bisnis dan berkontribusi secara and business processes, and contribute optimally.
optimal.
Adapun di tahun 2025, komposisi Direksi PT SMI tidak In 2025, there were no changes to the composition of PT
mengalami perubahan. Dengan demikian, Perseroan SMI’s Board of Directors. Accordingly, the Company did
tidak menggelar program pengenalan bagi anggota not conduct an orientation program for new members
Direksi baru. of the Board of Directors.
491
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05 Tata Kelola Perusahaan
Good Corporate Governance
PENGEMBANGAN KOMPETENSI COMPETENCY DEVELOPMENT OF
DIREKSI TAHUN 2025 THE BOARD OF DIRECTORS IN 2025
Perseroan terus menyediakan dukungan bagi The Company continues to provide support to members
anggota Direksi untuk meningkatkan kapasitas dan of the Board of Directors to enhance their professional
kompetensi profesionalnya, sesuai dengan kebutuhan capacity and competencies, in line with business
pengembangan usaha serta dinamika global dan development needs and global and national dynamics,
nasional, termasuk isu perubahan iklim, ESG, dan tata including issues related to climate change, ESG, and
kelola. Berdasarkan Board Manual, Direksi diharuskan governance. Pursuant to the Board Manual, the Board of
untuk senantiasa memperbarui pengetahuan dan Directors is required to continuously update its knowledge
keahliannya agar mampu mendorong peningkatan and expertise to drive performance improvement and
kinerja dan memperkuat ketahanan perusahaan. strengthen the Company’s resilience.
Oleh karena itu, sepanjang tahun 2025, Perseroan telah Accordingly, throughout 2025, the Company implemented
melaksanakan berbagai program pengembangan various competency development programs for the
kompetensi bagi Direksi melalui pelatihan, seminar, dan Board of Directors through training, seminars, and
sertifikasi yang disesuaikan dengan kebutuhan masing- certifications tailored to the needs of each member. The
masing anggota. Rangkaian program pengembangan series of competency development programs undertaken
kompetensi Direksi sepanjang tahun buku adalah sebagai during the fiscal year are as follows:
berikut:
Nama Jabatan Pelatihan Penyelenggara Tanggal
Name Position Training Organizer Date
Direktur Operasional &
Keuangan 22 Januari 2025
Aradita Priyanti Leading with Finance HBS Online
Director of Operations & January,22 2025
Finance
Direktur Manajemen Risiko Certified Governance, Risk, and 20 Februari 2025
Pradana Murti BPPK
Director of Risk Management Compliance for Executive (GRCE) February, 20 2025
Direktur Pembiayaan Publik &
Pengembangan Proyek Refreshment BSMR Jenjang 7 26 Maret 2025
Faaris Pranawa Garda
Director of Public Financing & BSMR Refreshment Level 7 March 26, 2025
Project Development
Direktur Manajemen Risiko Refreshment BSMR Jenjang 7 26 Maret 2025
Pradana Murti Garda
Director of Risk Management BSMR Refreshment Level 7 March 26, 2025
Direktur Operasional &
Keuangan Refreshment BSMR Jenjang 7 26 Maret 2025
Aradita Priyanti Garda
Director of Operations & BSMR Refreshment Level 7 March 26, 2025
Finance
Direktur Pembiayaan &
Investasi Sertifikasi BSMR Jenjang 7 16 Mei 2025
Sylvi J. Gani Garda
Director of Financing & BSMR Certification Level 7 May 16, 2025
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Investment
Inagurasi Gelar Certified Risk
Management (CRM) dan Program
Direktur Pembiayaan Publik & Pemeliharaan Sertifikasi Manajemen
Pengembangan Proyek Risiko J7 02 September 2025
Faaris Pranawa IRPA
Director of Public Financing & Inauguration of Certified Risk September 02, 2025
Project Development Management (CRM) Title and
Maintenance Program for Risk
Management Certification Level 7
Inagurasi Gelar Certified Risk
Management (CRM) dan Program
Pemeliharaan Sertifikasi Manajemen
Direktur Manajemen Risiko Risiko J7 02 September 2025
Pradana Murti IRPA
Director of Risk Management Inauguration of Certified Risk September 02, 2025
Management (CRM) Title and
Maintenance Program for Risk
Management Certification Level 7
492
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Nama Jabatan Pelatihan Penyelenggara Tanggal
Name Position Training Organizer Date
Inagurasi Gelar Certified Risk
Management (CRM) dan Program
Direktur Operasional & Pemeliharaan Sertifikasi Manajemen
Keuangan Risiko J7 02 September 2025
Aradita Priyanti IRPA
Director of Operations & Inauguration of Certified Risk September 02, 2025
Finance Management (CRM) Title and
Maintenance Program for Risk
Management Certification Level 7
Inagurasi Gelar Certified Risk
Management (CRM) dan Program
Direktur Pembiayaan & Pemeliharaan Sertifikasi Manajemen
Investasi Risiko J7 04 November 2025
Sylvi J. Gani IRPA
Director of Financing & Inauguration of Certified Risk November 04, 2025
Investment Management (CRM) Title and
Maintenance Program for Risk
Management Certification Level 7
Pelatihan Pengenalan Pemeriksaan
Reynaldi Direktur Utama Saksi 11 Desember 2025
PT Valde Indonesia
Hermansjah President Director Introduction Training on Witness December 11, 2025
Examination
Direktur Pembiayaan & Pelatihan Pengenalan Pemeriksaan
Investasi Saksi 11 Desember 2025
Sylvi J. Gani PT Valde Indonesia
Director of Financing & Introduction Training on Witness December 11, 2025
Investment Examination
Direktur Pembiayaan Publik & Pelatihan Pengenalan Pemeriksaan
Pengembangan Proyek Saksi 11 Desember 2025
Faaris Pranawa PT Valde Indonesia
Director of Public Financing & Introduction Training on Witness December 11, 2025
Project Development Examination
Pelatihan Pengenalan Pemeriksaan
Direktur Manajemen Risiko Saksi 11 Desember 2025
Pradana Murti PT Valde Indonesia
Director of Risk Management Introduction Training on Witness December 11, 2025
Examination
Direktur Operasional & Pelatihan Pengenalan Pemeriksaan
Keuangan Saksi 11 Desember 2025
Aradita Priyanti PT Valde Indonesia
Director of Operations & Introduction Training on Witness December 11, 2025
Finance Examination
PELAKSANAAN TUGAS IMPLEMENTATION OF DUTIES OF THE
DIREKSI TAHUN 2025 BOARD OF DIRECTORS IN 2025
Sampai dengan akhir 2025, Direksi senantiasa As of the end of 2025, the Board of Directors has
menjalankan tugas pengelolaan Perseroan dengan consistently carried out its management duties by
merealisasikan berbagai program kerja strategis yang implementing various strategic work programs as set
telah ditetapkan dalam RKAP 2025, antara lain: out in the Company’s 2025 Work Plan and Budget (RKAP),
including: PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
1. Pengurusan dan pengambilan keputusan terkait 1. Management and decision-making related to the
bisnis dan operasional Perseroan. Company's business and operations.
2. Penyelesaian mandat penyiapan proyek KPBU. 2. Completion of mandates for the preparation of Public-
Private Partnership (KPBU) projects.
3. Berperan aktif dalam mewujudkan skema Kerjasama 3. Active involvement in the implementation of Sharia
Pemerintah dengan Badan Usaha (KPBU) Syariah. Public-Private Partnership (KPBU) schemes.
4. Dukungan terhadap perencanaan pendanaan 4. Support for financing planning in the development of
pembangunan infrastruktur pada sejumlah Proyek Indonesia’s new capital city (Ibu Kota Nusantara - IKN).
Strategis Nasional.
5. Kerjasama pendanaan melalui platform SDG 5. Funding collaboration through the SDG Indonesia
Indonesia One (SIO), termasuk dukungan terhadap One (SIO) platform, including support for geothermal
proyek geothermal di Indonesia, sinergi dengan projects in Indonesia, synergy with Special Mission
Special Mission Vehicle (SMV) di bawah Kementerian Vehicles (SMV) under the Ministry of Finance, and
Keuangan dan Kemitraan pihak lain. other partnerships.
6. Penyusunan dan penerbitan Rencana Kerja dan 6. Preparation and issuance of the Company’s 2025
Anggaran Perusahaan (RKAP) Tahun 2026, Rencana Work Plan and Budget (RKAP), 2026 Business Plan,
Bisnis Tahun 2026 dan Rencana Aksi Keuangan and 2026 Sustainable Finance Action Plan.
Berkelanjutan Tahun 2026.
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05 Tata Kelola Perusahaan
Good Corporate Governance
PENILAIAN KINERJA DIREKSI PERFORMANCE ASSESSMENT OF
THE BOARD OF DIRECTORS
Perseroan melakukan penilaian kinerja Direksi secara rutin To ensure optimal management of the Company, the
untuk memastikan pengelolaan perusahaan berjalan performance of the Board of Directors is regularly assessed
optimal. Penilaian ini dilakukan melalui pelaporan through accountability reporting to the General Meeting
pertanggungjawaban di hadapan RUPS serta self- of Shareholders (GMS) and self-assessment of individual
assessment terhadap target kerja, baik secara individual and collective work targets established in employment
maupun kolegial, yang ditetapkan dalam kontrak kerja contracts as part of the Company's Work Plan and Budget
sebagai bagian dari RKAP Perseroan. Hasil penilaian (RKAP). The results of these performance assessments
kinerja tersebut selanjutnya menjadi dasar penetapan serve as the basis for determining remuneration and
remunerasi dan tantiem bagi setiap anggota Direksi, tantiem (bonuses) for each member of the Board of
dengan prosedur yang diatur sesuai ketentuan yang Directors, with detailed procedures set by the Company
berlaku. in accordance with applicable regulations.
PROSEDUR PENILAIAN PROCEDURES FOR THE
KINERJA DIREKSI PERFORMANCE ASSESSMENT OF
THE BOARD OF DIRECTORS
Prosedur penilaian kinerja Direksi mengacu pada The procedure for evaluating the performance of the
Peraturan Menteri Keuangan No. 88/PMK.06/2015 tentang Board of Directors is based on the Minister of Finance
Penerapan Tata Kelola Perusahaan yang Baik pada Regulation No. 88/PMK.06/2015 on the Implementation of
Perusahaan Perseroan (Persero) di bawah Pembinaan Good Corporate Governance in State-Owned Enterprises
dan Pengawasan Menteri Keuangan, Anggaran Dasar under the guidance and supervision of the Minister of
dan Kebijakan GCG Perseroan. Berpedoman pada Finance, the Company's Articles of Association, and its
ketentuan tersebut, kinerja Direksi dievaluasi secara Good Corporate Governance (GCG) Code. Under these
kolegial maupun individual sesuai dengan jabatan regulations, the performance of the Board of Directors is
masing-masing melalui mekanisme sebagai berikut: assessed both collectively and individually based on their
positions, through the following mechanisms:
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
494
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Kinerja Kolegial Kinerja Individual
Collegial Performance Individual Performance
Direksi mengusulkan kepada Dewan Komisaris dan RUPS Usulan
Kontrak Kinerja yang berisi: Setiap Anggota Direksi mengusulkan indikator dan target kinerja
• Indikator. kepada Dewan Komisaris dan melakukan penilaian secara
• Target Utama. transparan.
The Board of Directors proposes to the Board of Commissioners Each member of the Board of Directors proposes indicators
and GMS the Performance Contract Proposal which contains: and performance targets to the Board of Commissioners and
• Indicators. conducts assessments in a transparent manner.
• Key Targets.
Dewan Komisaris memberikan pendapat kepada RUPS atas
usulan Kontrak Kinerja Direksi. RUPS menyetujui dan menetapkan
Dewan Komisaris melakukan kajian, memberikan arahan dan
Usulan Kontrak Kinerja Direksi dengan mempertimbangkan
persetujuan atas usulan indikator dan target kinerjamasing-
pendapat Dewan Komisaris.
masing Anggota Direksi.
The Board of Commissioners expresses their opinion to the GMS
The Board of Commissioners reviews and provides guidance
on the proposed Performance Contract for the Board of Directors.
and approval toward the proposed indicators and performance
The GMS approves and confirms the Proposed Performance
targets for each member of the Board of Directors.
Contract for the Board of Directors by considering the Board of
Commissioners’ opinion.
Direksi menyampaikan laporan realisasi RKAP dankinerja secara
triwulanan dan tahunan. Untuk laporan kinerja tahunan diperiksa
oleh auditor eksternal dan diberikan opini. Selain itu, Direksi juga
menyampaikan laporan pertanggungjawaban selama satu Laporan perkembangan realisasi Indikator Pencapaian Kinerja
tahun buku kepada RUPS. RUPS memutuskan untuk menerima disampaikan oleh masing-masing Direksi kepada para Dewan
atau menyampaikan penilaian. Komisaris.
The Board of Directors submitted the Company’s Work Plan Progress Report on the realization of Performance Achievement
and Budget and performance realization report quarterly and Indicators is presented by the respective members of the Board of
annually. For the annual performance report is assessed by the Directors to the Board of Commissioners.
external auditor and provided opinion. Moreover, the Board of
Directors also submitted the Annual Report to the Shareholders.
The Shareholders then conclude to approve or assess.
Dewan Komisaris melakukan pengawasan atas kinerja Perseroan Dewan Komisaris selanjutnya melakukan penilaian atas
dan melaporkan kepada RUPS secara berkala terkait dengan pencapaian Indikator dan Target Kinerja masing-masing
pencapaian kinerja Perseroan dan apabila terjadi gejala Anggota Direksi untuk kemudian dilaporkan kepada Pemegang
kemunduran kinerja Perseroan. Saham secara semesteran.
The Board of Commissioners conducts supervision of the The Board of Commissioners further conducts assessment
Company’s performance and periodically reports to the GMS on upon the achievement of performance indicator and targets
the Company’s performance achievements, and if there are any of each member of the Board of Directors to be reported to the
signs of the Company’s performance decline. Shareholders every semester.
Kriteria Penilaian Kinerja Direksi Criteria for Performance Assessment of
the Board of Directors
Untuk mengukur kinerja Direksi secara kolegial, Perseroan To measure the collective performance of the Board PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
menetapkan sejumlah kriteria yang merujuk pada of Directors, the Company establishes a set of criteria
Indikator Kinerja Utama (IKU). IKU telah disetujui oleh referring to the Key Performance Indicators (KPI). The KPIs
RUPS dan dicantumkan dalam RKAP Perseroan. Adapun have been approved by the GMS and incorporated into
penilaian kinerja Direksi dibagi ke dalam 4 (empat) the Company’s Work Plan and Budget. The performance
perspektif utama, yaitu: assessment of the Board of Directors is divided into 4
(four) main perspectives, namely:
1. Perspektif Mandat dan Keuangan (MK); 1. Mandate and Financial Perspective (MK);
2. Perspektif Stakeholders (ST); 2. Stakeholder Perspective (ST);
3. Perspektif Proses Bisnis Internal (PB); 3. Internal Business Process Perspective (PB);
4. Perspektif Pembelajaran dan Pertumbuhan (PP). 4. Learning and Growth Perspective (PP).
KPI Perseroan untuk tahun buku 2025 telah diajukan dan The Company’s KPIs for the 2025 fiscal year were proposed
disetujui oleh Pemegang Saham dalam RUPS. Keputusan and approved by the Shareholder through the GMS. This
ini menurunkan keempat perspektif utama KPI menjadi decision translates the four main KPI perspectives into
sasaran strategis beserta indikator dan target yang jelas. strategic objectives with clear indicators and targets. The
Hasil penilaian kinerja Direksi untuk tahun 2025 disajikan results of the Board of Directors’ performance assessment
sebagai berikut: for 2025 are presented as follows:
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05 Tata Kelola Perusahaan
Good Corporate Governance
1. Perspektif Mandat dan Keuangan (MK)
Mandate and Financial Perspective
RKAP 2025
Sasaran The Company’s 2025 Work Plan and Budget
Indikator
Strategis Indicators
Strategic Goals Satuan Bobot (%) Target Realisasi
Unit Weight (%) Target Realization
1. Progres penyelesaian mandat
penyiapan proyek KPBU
Progress in Completing
% 7 100% 100%
the Mandate for Public-
Private Partnership Project
Preparation
2. Proyek infrastruktur strategis
program pemerintah
termasuk program
infrastruktur ketenagalistrikan
MK1 Mandat (PIK), proyek Ibu Kota Negara
Pembangunan (IKN) dan Penugasan Proyek/
Infrastruktur pemerintah yang difasilitasi Penugasan/
MK1 Infrastructure oleh Perseroan Program/Kegiatan
10 12 22
Development Strategic Infrastructure Project/
Mandate Projects of the Government Assignment/
Program including the Program/Activity
Electrical Infrastructure
Program (PIK), the National
Capital Project (IKN), and
Government Assignments
Facilitated by the Company
3. Penyerapan anggaran dalam
penerusan pinjaman
% 7 100% 100%
Budget Absorption in Loan
Disbursement
Kerja sama melalui platform SDG
Indonesia One (SIO), termasuk
dukungan terhadap proyek
geothermal di Indonesia, sinergi
dengan Kementerian keuangan
Proyek/Skema/
dan/atau Special Mission Vehicle
Produk/Aktivitas/
(SMV) di bawah Kementerian
MK2 Kerjasama Program/Debitur/
Keuangan dan Kemitraan dengan
Strategis Klien
pihak lain 9 18 38
MK2 Strategic Project/ Scheme/
Collaboration through the SDG
Cooperation Product/ Activity/
Indonesia One (SIO) platform,
Program/ Debtor/
including support for geothermal
Client
projects in Indonesia, synergy
with the Ministry of Finance and/
or Special Mission Vehicles (SMVs)
under the Ministry of Finance, and
partnerships with other parties.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Gross Income (net interest income Rp miliar
6 4.006 4.185,51
+ fee income) IDR billion
MK3 Financial Total Gross Disbursement dan
Stability additional commitment
% 6 100 258,88
Total Gross Disbursement and
additional commitment
Total Bobot (45%)
45 45 48,80
Total Weight (45%)
*) Skor akhir maksimum dapat mencapai 120%
*) Maximum final score may achieve 120%
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2. Perspektif Stakeholder (ST)
Stakeholder Perspective
RKAP 2025
Sasaran The Company’s 2025 Work Plan and Budget
Indikator
Strategis Indicators
Strategic Goals Satuan Bobot (%) Target Realisasi
Unit Weight (%) Target Realization
Persentase kepuasan stakeholders
yang antara lain: Debitur, Co-
ST Meningkatnya
financier, dan PPJK, regulator,
kepuasan
partner, donor SIO, dan klien.
stakeholder Skor
Percentage of stakeholder 10 82 89,80
ST Increased Score
satisfaction which includes:
stakeholder
Debtors, co-financiers, and PPJK,
satisfaction
regulators, partners, SIO donors
and clients.
Total Bobot (10%)
10 10 10
Total Weight (10%)
3. Perspektif Proses Bisnis Internal (PB)
Internal Business Process Perspective
RKAP 2025
Sasaran The Company’s 2025 Work Plan and Budget
Indikator
Strategis Indicators
Strategic Goals Satuan Bobot (%) Target Realisasi
Unit Weight (%) Target Realization
Indeks Dukungan Pembiayaan
PB1 Mengembangkan Indeks
Publik 6 100 137,15
Pipeline Index
Public Financing Support Index
PB1 Develop the
Pipeline Kali
Project Development Index 5 350 486,86
Time(s)
PB2 kualitas asset
pembiayaan Kualitas atas Aset Pembiayaan
% 5 <2,00% 0,45%
PB2 Financing Asset (Non-Performing Loan)-(nett)
Quality
PB3 Pendanaan
dan Optimalisasi
Hasil Pengembalian
Skor
Investasi Cost of Debt (margin) 7 100 128,83
Score
PB3 Funding and
Optimization of
Investment Returns
PB4 Efisiensi Operasi
PB4 Operational Cost Efficiency Ration (CER) % 6 30,85% 25,14%
Efficiency
PB5 Memenuhi
Indeks Good Corporate
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
ketentuan regulasi
Governance (GCG) Indeks
PB5 Compliance 6 100 107,51
Good Corporate Governance Index
with Regulatory
(GCG) Index
Requirements
ICT Index (Pengembangan
PB6 Mengoptimalkan Aplikasi, Service Level, dan
Pemanfaatan ICT Ketersediaan Sistem (availability)
% 5 90 99,71
PB6 Optimization of ICT Index (Application
ICT Utilization Development, Service Level, and
System Availability)
Total Bobot (40%)
40 40 41
Total Weight (40%
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05 Tata Kelola Perusahaan
Good Corporate Governance
4. Perspektif Pembelajaran dan Pertumbuhan (PP)
Learning and Growth Perspective
RKAP 2025
Sasaran The Company’s 2025 Work Plan and Budget
Indikator
Strategis Indicators
Strategic Goals Satuan Bobot (%) Target Realisasi
Unit Weight (%) Target Realization
PP Meningkatkan
Jumlah jam pelatihan rata
Kompetensi
rata karyawan per tahun
Organisasi Jam
Average number of 5 36 97,2
PP Improving Hour(s)
employee training hours per
Organizational
year
Competency
Total Bobot (5%)
5 5 5
Total Weight (5%)
Berdasarkan kriteria yang ditetapkan dalam Peraturan Based on the criteria set out in the Regulation of the
Menteri Keuangan No. 106 Tahun 2017 tentang Minister of Finance No. 106 of 2017 concerning the
Pengelolaan Kinerja Direksi dan Dewan Komisaris pada Performance Management of the Board of Directors and
Perusahaan Perseroan (Persero) di bawah Pembinaan Board of Commissioners of State-Owned Companies
dan Pengawasan Menteri Keuangan, capaian kinerja (Persero) under the Guidance and Supervision of
Perseroan berhasil memperoleh skor sebesar 104,80 the Minister of Finance, the Company’s performance
dengan kategori ”hijau” yang artinya telah memenuhi achievement obtained a score of 104.80 with a “green”
ekspektasi pemegang saham. category, indicating that it has met the shareholder’s
expectations.
Sementara, untuk penilaian kinerja Direksi secara Meanwhile, the individual performance assessment
individual diukur menggunakan perspektif yang sama of the Board of Directors is measured using the same
dan merupakan turunan dari IKU Perseroan dengan perspectives and is derived from the Company’s KPIs,
menyesuaikan masing-masing jabatan atau direktorat adjusted to the respective positions or directorates led.
yang dipimpin. IKU dan target masing-masing Direktur The KPIs and targets of each Director are proposed to
diajukan kepada Dewan Komisaris, kemudian masing- the Board of Commissioners. Each Director subsequently
masing Direktur juga akan melaporkan hasil capaian reports the achievement or realization of the established
atau realisasi dari IKU yang ditetapkan pada setiap akhir KPIs at the end of each semester and at year-end, which
semester dan akhir tahun untuk selanjutnya dilakukan are then evaluated by the Board of Commissioners and
penilaian oleh Dewan Komisaris dan disampaikan kepada submitted to the Shareholder.
Pemegang Saham.
PENILAIAN KINERJA KOMITE PERFORMANCE ASSESSMENT
DI BAWAH DIREKSI OF COMMITTEES UNDER THE
BOARD OF DIRECTORS
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Untuk memperkuat kinerja PT SMI dalam menghadapi To strengthen PT SMI’s performance in responding
dinamika bisnis, Direksi membentuk sejumlah komite to business dynamics, the Board of Directors has
di bawahnya. Pembentukan komite ini bertujuan untuk established several committees under its supervision.
mempercepat pengambilan keputusan yang efektif The establishment of these committees aims to
sekaligus mengoptimalkan pelaksanaan pengelolaan accelerate effective decision-making while optimizing
perusahaan. Komite -komite yang dibentuk Direksi antara the implementation of corporate management. The
lain: committees established by the Board of Directors include:
1. Komite Risiko & Kapital; 1. Risk & Capital Committee;
2. Komite Kebijakan Umum dan Prosedur; 2. General Policy and Procedure Committee;
3. Komite Aset & Liabilitas; 3. Asset & Liability Committee;
4. Komite Target; 4. Target Committee;
5. Komite Monitoring; 5. Monitoring Committee;
6. Komite Pembiayaan; 6. Financing Committee;
7. Komite Penyertaan Modal; 7. Equity Investment Committee;
8. Komite Pengembangan Proyek & Jasa Konsultasi; 8. Project Development & Advisory Services Committee;
9. Komite Teknologi Sistem Informasi. 9. Information System Technology Committee;
10. Komite Pengelolaan Sumber Daya Manusia 10. Human Capital Management Committee.
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Direksi PT SMI secara konsisten memperkuat sinergi dan The Board of Directors of PT SMI consistently strengthens
melakukan evaluasi rutin terhadap peran serta kinerja synergy and conducts regular evaluations of the roles and
seluruh komite di bawah Direksi untuk memastikan performance of all committees under its supervision to
pengelolaan perusahaan berjalan secara optimal dan ensure optimal and efficient corporate management. This
efisien. Evaluasi ini juga memungkinkan Direksi untuk evaluation enables the Board of Directors to assess the
menilai kondisi dan kinerja masing-masing komite, condition and performance of each committee, while also
sekaligus memberikan masukan untuk perbaikan dan providing input for future improvement and development.
pengembangan kinerja komite di masa mendatang.
Sepanjang tahun buku 2025, Direksi menilai bahwa Throughout the 2025 fiscal year, the Board of Directors
seluruh komite telah menjalankan peran dan tanggung assessed that all committees had effectively carried out
jawabnya secara efektif, mendukung pelaksanaan their roles and responsibilities, supported the execution of
tugas Direksi, serta berkontribusi pada pencapaian the Board’s duties, and contributed to the achievement
target Perseroan. Komite-komite tersebut secara aktif of the Company’s targets. The committees actively
memberikan rekomendasi dan saran yang konstruktif, provided constructive recommendations and advice,
sementara setiap anggota komite menunjukkan while each committee member demonstrated maximum
partisipasi maksimal dalam rapat dan kegiatan yang participation in meetings and activities within their scope
menjadi tanggung jawabnya. of responsibility.
Prosedur Penilaian Kinerja Komite di Procedure for Performance Assessment of
Bawah Direksi Committees under the Board of Directors
Dalam kerangka prosedur penilaian kinerja komite di Within the framework of assessing the performance
bawah Direksi, Direksi menerapkan mekanisme penilaian of committees under the Board of Directors, the Board
kinerja yang dilakukan secara berkala setiap tahun guna applies a periodic annual performance assessment
memastikan komite-komite pendukung menjalankan mechanism to ensure that supporting committees
perannya secara optimal. Proses penilaian difokuskan perform their roles optimally. The assessment process
pada pencapaian tujuan dan target yang telah focuses on the achievement of established objectives
ditetapkan, sekaligus mengevaluasi tingkat kehadiran and targets, as well as evaluating meeting attendance,
dalam rapat komite, kontribusi terhadap penguatan contributions to strengthening the implementation of
penerapan Tata Kelola Perusahaan yang baik, efektivitas Good Corporate Governance, the effectiveness and
dan efisiensi pelaksanaan pelaporan, serta kepatuhan efficiency of reporting implementation, and compliance
terhadap seluruh ketentuan peraturan perundang- with all applicable laws and regulations.
undangan yang berlaku.
Kriteria Penilaian Kinerja Komite Performance Assessment Criteria for
di Bawah Direksi Committees under the Board of Directors
Direksi memastikan efektivitas organ pendukung melalui The Board of Directors ensures the effectiveness
proses evaluasi yang terstruktur dan berbasis kinerja. of its supporting organs through a structured and
Mekanisme self-assessment diterapkan untuk menilai performance-based evaluation process. A self-
sejauh mana setiap organ menjalankan penugasan assessment mechanism is implemented to evaluate
yang telah ditetapkan, termasuk tingkat keterlibatan, the extent to which each organ carries out its assigned
ketepatan penyelesaian tugas, serta kontribusinya duties, including the level of involvement, timeliness in PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
terhadap target perusahaan. Hasil penilaian kemudian duties completion, and contribution to the Company’s
dikonsolidasikan dalam Indikator Kinerja Utama (IKU) targets. The results of the assessment are subsequently
sebagai dasar penguatan tata kelola dan peningkatan consolidated into the Key Performance Indicators (KPI)
kinerja berkelanjutan. as a basis for strengthening governance and achieving
continuous performance improvement.
Penilaian kinerja setiap organ pendukung Direksi The performance assessment of each supporting organ
dilaksanakan dengan mengacu pada: under the Board of Directors is conducted with reference to:
1. Keaktifan dari pelaksanaan tugas sesuai penugasan 1. Activeness in carrying out duties in accordance with
yang diberikan; the assignments given;
2. Kehadiran dalam rapat-rapat; 2. Attendance at meetings;
3. Pemberian laporan kepada Direksi dalam pengelolaan 3. Submission of reports to the Board of Directors
Perseroan. regarding the management of the Company.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Kebijakan Rangkap Jabatan Anggota Policy on Concurrent Positions of Members
Direksi of the Board of Directors
Seluruh anggota Direksi Perseroan tidak memegang In 2025, none of the members of the Board of Directors held
jabatan rangkap di perusahaan atau lembaga lain concurrent positions in other companies or institutions.
selama tahun 2025. Kondisi ini mencerminkan komitmen This demonstrates the Company's commitment to
Perseroan dalam menerapkan ketentuan terkait larangan adhering to regulations on concurrent positions as
rangkap jabatan, sebagaimana diatur dalam Peraturan stipulated in the Regulation of the Minister of Finance,
Menteri Keuangan, Peraturan Otoritas Jasa Keuangan, Regulation of the Financial Services Authority, the
Anggaran Dasar Perseroan, serta Pedoman Kerja Dewan Company's Articles of Association, and Work Guidelines
Komisaris, Dewan Pengawas Syariah (DPS) dan Direksi of the Board of Commissioners, Sharia Supervisory Board,
(Board Manual), yang mengatur: and the Board of Directors (Board Manual), which govern:
1. Anggota Direksi Perseroan dilarang merangkap 1. Members of the Company’s Board of Directors are not
jabatan sebagai: allowed to hold concurrent positions as:
a. Anggota Direksi pada BUMN, badan usaha milik a. Members of the Board of Directors in SOEs,
daerah, badan usaha milik swasta; Regional/Local Government-Owned Enterprises,
private enterprises;
b. Anggota Dewan Komisaris/Pengawas pada BUMN; b. Members of the Board of Commissioners/
Supervisory Board in SOEs;
c. Jabatan struktural dan fungsional lainnya pada c. Other structural and functional positions at central
instansi/lembaga pemerintah pusat dan/atau and/or local government institutions;
daerah;
d. Jabatan lainnya sesuai dengan ketentuan d. Other positions in accordance with provisions of
peraturan perundang-undangan; laws and regulations;
e. Pengurus partai politik dan/atau calon/anggota e. Executives of political party and/or legislature
legislatif dan/atau calon kepala daerah/wakil candidates/members and/or candidates for
kepala daerah dan/atau kepala daerah/wakil regional heads/deputy regional heads and/or
kepala daerah; dan/atau regional heads/deputy regional heads; and/or
f. Jabatan lain yang dapat menimbulkan benturan f. Other positions that may cause conflicts of
kepentingan; dan interests; and
g. Sebagai Dewan Komisaris pada lebih dari 1 (satu) g. Members of the Board of Commissioners at more
perusahaan lain. than 1 (one) other company.
2. Anggota Direksi Perseroan yang merangkap jabatan 2. Members of the Company’s Board of Directors who
lain sebagaimana dimaksud pada poin (1), masa hold concurrent positions as referred to in point (1)
jabatannya sebagai anggota Direksi Perseroan will have their term of office as a member of the
berakhir terhitung sejak terjadinya perangkapan Company’s Board of Directors ended starting from
jabatan. the date of holding such position.
3. Dalam hal seseorang yang sedang menjabat 3. In the event of a member holding a concurrent
pada jabatan sebagaimana dimaksud pada poin position as referred to in point (1) is appointed as
(1) diangkat menjadi anggota Direksi, maka yang member of the Board of Directors, said member must
bersangkutan harus mengundurkan diri dari jabatan resign from his/her previous position no later than 30
sebelumnya tersebut paling lambat 30 (tiga puluh) (thirty) days since his/her appointment as member
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
hari sejak pengangkatannya sebagai anggota Direksi. of the Board of Directors.
4. Dalam hal anggota Direksi yang bersangkutan tidak 4. In the event that such member of the Board of
mengundurkan diri dari jabatannya sebagaimana Directors does not resign from his/her position as
dimaksud pada poin (3), maka jabatannya sebagai referred to in point (3), his/her position as member
anggota Direksi Perseroan berakhir dengan lewatnya of the Company’s Board of Directors shall end at the
30 (tiga puluh) hari tersebut. end of the 30-day (thirty days) period.
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NOMINASI DAN REMUNERASI DEWAN KOMISARIS,
DEWAN PENGAWAS SYARIAH, DAN DIREKSI
NOMINATION AND REMUNERATION OF THE BOARD
OF COMMISSIONERS, SHARIA SUPERVISORY
BOARD, AND BOARD OF DIRECTORS
NOMINASI DEWAN KOMISARIS DAN NOMINATION OF THE BOARD OF
DEWAN PENGAWAS SYARIAH COMMISSIONERS AND SHARIA
SUPERVISORY BOARD
Nominasi anggota Dewan Komisaris dan Dewan The nomination of members of the Board of
Pengawas Syariah PT SMI sebagai pelaksana fungsi Commissioners and the Sharia Supervisory Board of
pengawasan menjadi wewenang dan keputusan Menteri PT SMI, as executors of supervisory functions, is under
Keuangan selaku RUPS. Seluruh tahap seleksi, pengujian, the authority and decision of the Minister of Finance as
penunjukan, dan pengangkatan dilaksanakan dengan the General Meeting of Shareholders (GMS). The entire
menekankan integritas, profesionalisme, serta mengacu process of selection, assessment, appointment, and
pada prinsip-prinsip tata kelola perusahaan yang baik. inauguration prioritizes integrity and professionalism while
adhering to the principles of good corporate governance.
Prosedur Nominasi Dewan Komisaris Nomination Procedure for the Board of
Commissioners
Prosedur nominasi anggota Dewan Komisaris PT SMI The nomination process for members of the Board of
diatur melalui Peraturan Menteri Keuangan No. 197/ Commissioners is regulated under the Regulation of the
PMK.06/2019 tentang Tata Cara Pengangkatan dan Minister of Finance No. 197/PMK.06/2019 concerning the
Pemberhentian Anggota Dewan Komisaris Perusahaan Procedures for Appointment and Dismissal of Members of
Perseroan (Persero) di bawah Pembinaan dan the Board of Commissioners of Limited Liability Companies
Pengawasan Menteri Keuangan. Rangkaian tahapan (Persero) under the Guidance and Supervision of the
nominasi Dewan Komisaris Perseroan dapat dijelaskan Minister of Finance. The procedures for the nomination of
sebagai berikut: the Company's Board of Commissioners are as follows:
Daftar Calon Anggota Dewan Komisaris
Daftar Bakal Calon Penilaian Akhir
List of Candidates for Members of the Board
List of Potential Candidates Final Assessment
of Commissioners
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Tim Penilaian Kelayakan dan Kepatutan dari
Tim Penilaian Kelayakan dan Kepatutan
Menteri Keuangan selaku RUPS melakukan Pemegang Saham melakukan penilaian penilaian
menentukan urutan dari Calon Anggota
penjaringan orang perseorangan sebagai administratif dan wawancara terhadap Daftar Bakal
Dewan Komisaris.
Bakal Calon dari berbagai sumber. Calon.
The fit and proper test team determines the
Minister of Finance as GMS filters individuals as The fit and proper test team from the Shareholder
order of the Candidates for Members of the
Potential Candidates from various sources. conducts administrative assessment and interviews
Board of Commissioners.
people in the list of potential candidates.
Anggota Dewan Komisaris Terpilih Calon Anggota Dewan Komisaris
Berita Acara
Selected Members for the Board of Candidates for Members of the Board of
Official Report
Commissioners Commissioners
RUPS menyetujui Calon Anggota Dewan
Tim Penilaian Kelayakan dan Kepatutan
Komisaris dan mengangkat Anggota Dewan
Tim Penilaian Kelayakan dan Kepatutan menetapkan Calon Anggota Dewan Komisaris
Komisaris terpilih melalui Keputusan Menteri
menyampaikan hasil penetapan Calon Anggota untuk setiap jabatan yang dituangkan dalam
Keuangan selaku RUPS.
Dewan Komisaris kepada RUPS. berita acara.
GMS approves the candidates for Board
The fit and proper test team submits the result of The fit and proper test team stipulates
of Commissioners members and appoints
the stipulation of candidates for members of the candidates for members of the Board of
selected members for the Board of
Board of Commissioners to GMS. Commissioners for each position in the
Commissioners through the Decree of the
handover report.
Minister of Finance as GMS.
Catatan:
Apabila calon Komisaris berasal dari pejabat struktural dan fungsional Kementerian Keuangan, maka ditetapkan berdasarkan keputusan Menteri Keuangan sesuai
rekomendasi Tim Pertimbangan Dewan Komisaris pada Badan Usaha Milik Negara dan Dewan Pengawas Pada Badan Layanan Umum (tidak melalui tim penilaian
kelayakan dan kepatutan).
Notes:
If the Board of Commissioners candidate is from a structural and functional official of the Ministry of Finance, then it is stipulated based on the Decree of the Minister of
Finance, as recommended by the Board of Commissioners Consideration Team at State Owned Enterprises and Supervisory Board at Public Service Agency (not through 501
the fit and proper assessment team).
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05 Tata Kelola Perusahaan
Good Corporate Governance
PROSEDUR NOMINASI DEWAN NOMINATION PROCEDURE FOR THE
PENGAWAS SYARIAH SHARIA SUPERVISORY BOARD
Proses nominasi anggota Dewan Pengawas Syariah PT The nomination process for members of the Company's
SMI dimulai dengan rekomendasi dari Dewan Syariah Sharia Supervisory Board involves recommendations from
Nasional–Majelis Ulama Indonesia (DSN-MUI), kemudian the National Sharia Board–Indonesian Ulema Council
dilakukan kajian oleh Direksi sebelum diajukan kepada (DSN-MUI), which are then reviewed by the Board of
Pemegang Saham untuk memperoleh persetujuan. Directors and submitted to the shareholders for approval.
Pengangkatan anggota DPS dapat dilakukan melalui RUPS Members of the Sharia Supervisory Board are appointed
atau di luar RUPS melalui penerbitan Surat Keputusan through GMS or outside of GMS by issuing a Decree of
Menteri Keuangan. Tahapan nominasi Dewan Pengawas the Minister of Finance. The nomination procedure of the
Syariah Perseroan dijabarkan sebagai berikut: Company’s Sharia Supervisory Board is outlined as follows:
PT SMI DSN-MUI
DSN-MUI membahas permohonan Perseroan dalam Rapat
Badan Pelaksana Harian (BPH) Badan Pengurus DSN-MUI,
hingga diterbitkannya Surat Rekomendasi DSN-MUI perihal
Pengajuan permohonan rekomendasi Anggota Dewan
Rekomendasi Anggota Dewan Pengawas Syariah PT SMI.
Pengawas Syariah dari Perseroan kepada DSN-MUI.
DSN-MUI discusses the Company’s proposal at the Daily
Submitting proposal to recommend Members of the Sharia
Executive Board Meeting (BPH) of the DSN-MUI Management
Supervisory Board from the Company to DSN MUI.
Board, until the issuance of Recommendation Letter of DSN-
MUI concerning the Recommendation for Members of the
Sharia Supervisory Board of PT SMI.
RUPS
PT SMI
GMS
RUPS menyetujui dan mengangkat Anggota Dewan Pengawas Perseroan menyampaikan surat permohonan pengangkatan
Syariah dimaksud, baik melalui RUPS maupun di luar RUPS Dewan Pengawas Syariah kepada RUPS dengan merujuk
melalui Keputusan Menteri Keuangan. pada Surat Rekomendasi DSN-MUI.
GMS approves and appoints members of the Sharia The Company submits a letter to propose the appointment
Supervisory Board, either through GMS or outside of GMS of the Sharia Supervisory Board to GMS, referring to the DSN-
through the Decree of the Minister of Finance. MUI’s Recommendation Letter.
Nominasi DireksI Nomination of the Board of Directors
Proses nominasi anggota Direksi Perseroan dilaksanakan The nomination process for members of the Company's
dengan menjunjung prinsip profesionalisme dan Board of Directors is conducted with a focus on
penerapan praktik tata kelola perusahaan yang baik. professionalism and good corporate governance.
Perseroan juga membentuk Komite Nominasi dan The Company has also established a Nomination
Remunerasi yang berperan membantu Dewan Komisaris and Remuneration Committee to assist the Board of
dalam seluruh tahapan nominasi Direksi. Commissioners in the nomination process for the Board
of Directors.
Prosedur Nominasi Direksi Procedure for the Nomination of the Board
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
of Directors
Proses nominasi dan pengangkatan Direksi Perseroan The nomination and appointment process for the
dilakukan sesuai dengan Peraturan Menteri Keuangan Company's Board of Directors is governed by the
Republik Indonesia No. 78/PMK.06/2015 tentang Tata Regulation of the Minister of Finance No. 78/PMK.06/2015
Cara Pengangkatan dan Pemberhentian Anggota concerning the Procedures for Appointment and Dismissal
Direksi Perusahaan Perseroan (Persero) di bawah of Members of the Board of Directors of Limited Liability
Pembinaan dan Pengawasan Menteri Keuangan beserta Companies (Persero) under the Guidance and Supervision
Perubahannya. Tahapan nominasi anggota Direksi of the Minister of Finance and its amendments. The
Perseroan dijabarkan sebagai berikut: procedures for the nomination of the Company's Board
of Directors are as follows:
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Dewan Komisaris menyampaikan daftar anggota Direksi yang akan berakhir masa jabatannya kepada RUPS.
The Board of Commissioners submits a list of Board of Director members whose terms are about to end to the GMS.
RUPS melakukan penjaringan Bakal Calon dengan memerhatikan persyaratan umum dan persyaratan lain.
GMS filter Potential Candidates by considering general requirements and other requirements.
Dewan Komisaris tidak menyampaikan usulan bakal
calon yang berasal dari internal Perseroan,
atau hasil penilaian akhir oleh Tim Uji Kelayakan dan
RUPS meminta Dewan Komisaris menyampaikan Kepatutan Pemegang Saham terhadap Bakal Calon
usulan Bakal Calon yang berasal dari internal dari internal Perseroan tidak diperoleh calon
Perseroan apabila ada. yang memenuhi kualifikasi.
GMS requires the Board of Commissioners to submit proposed Board of Commissioners does not submit internal
internal potential candidates from the Company, if any. potential candidates from the Company, or final
assessment of the Shareholder’s Fit and Proper test team to
internal potential candidates from the Company does not
find qualified candidates.
Pemegang Saham melalui Direktorat Jenderal Kekayaan
Negara (DJKN) melakukan penjaringan Bakal Calon yang
berasal dari eksternal.
Shareholders through the Directorate General of State
Assets (DJKN) filters external potential candidates outside of
the Company.
Bakal Calon yang berasal dari internal Perseroan Bakal Calon yang berasal dari eksternal Perseroan
mengikuti Assessment oleh Lembaga Profesional dan mengikuti assessment oleh lembaga profesional yang
Dewan Komisaris. ditunjuk oleh Perseroan atas permintaan RUPS.
Internal potential candidates from the Company participate External potential candidates outside of the Company
in an assessment by a Professional Organization and the participate in an assessment by a professional organization
Board of Commissioners. appointed by the Company as requested by GMS.
Tim Uji Kelayakan dan Kepatutan melakukan penilaian akhir terhadap Bakal Calon.
Fit and Proper Test Team conducts Final Assessment on Potential Candidates.
Tim Uji Kelayakan dan Kepatutan menentukan urutan Calon Anggota Direksi untuk setiap jabatan dan dituangkan dalam
Daftar Calon Anggota Direksi.
Fit and Proper Test Team determines the order of Candidates for Members of the Board of Directors for each position, and this is
included in the List of Candidates for Members of the Board of Directors.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Daftar Calon Anggota Direksi disampaikan kepada RUPS untuk disetujui dan diangkat menjadi Anggota Direksi terpilih
melalui Keputusan Menteri Keuangan selaku RUPS.
List of Candidates for Members of the Board of Directors is submitted to GMS to be approved and appointed to be the selected
Members of the Board of Directors through the Decree of the Minister of Finance as GMS.
Remunerasi Dewan Komisaris dan Direksi Remuneration of the Board of
Commissioners and Board of Directors
Penetapan remunerasi anggota Dewan Komisaris berada The determination of remuneration for members of
di bawah wewenang Pemegang Saham, yaitu Pemerintah the Board of Commissioners and Board of Directors is
Republik Indonesia melalui Menteri Keuangan. Paket the authority of shareholder, namely the Government
remunerasi bagi pengurus perusahaan diajukan oleh of Indonesia through the Minister of Finance. The
Dewan Komisaris dengan dukungan Komite Nominasi, remuneration package of the Company’s management
kemudian diajukan kepada RUPS untuk disetujui dan is proposed by the Board of Commissioners, assisted by
ditetapkan, dengan mempertimbangkan sejumlah faktor, the Nomination Committee, to GMS to be decided and
antara lain: stipulated by the GMS by considering factors such as:
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05 Tata Kelola Perusahaan
Good Corporate Governance
1. Kemampuan keuangan Perseroan; 1. The Company’s finance capability;
2. Pencapaian indikator kinerja utama Perseroan; 2. The Company’s main performance indicators
achievement;
3. Indikator kinerja utama individu para pengurus 3. Key performance indicators of individuals in office as
Perseroan; the Company’s management;
4. Tingkat kewajaran; dan 4. Reasonableness; and
5. Tingkat inflasi. 5. Inflation rate.
Prosedur Penetapan Remunerasi Dewan Procedures to Determine the Remuneration
Komisaris dan Direksi for the Board of Commissioners and Board
of Directors
Penetapan remunerasi bagi Dewan Komisaris maupun The determination of remuneration for both the Board of
Direksi Perseroan dilakukan melalui prosedur yang sama, Commissioners and the Board of Directors is carried out
yaitu sebagai berikut: through the same procedure, as follows:
Dewan Komisaris melakukan pertimbangan atas
peningkatan motivasi, kinerja, integritas serta
profesionalisme dalam pelaksanaan tugas Direksi, dan
Direksi mengajukan usulan remunerasi, honorarium,
pertimbangan atas usulan Direksi berdasarkan kinerja
tantiem dan fasilitas lainnya kepada Dewan Komisaris.
dan laporan hasil audit.
Board of Directors submits a proposal of remuneration,
Board of Commissioners considers the improvement in
honorarium, tantiem, and other facilities to the Board of
motivation, performance, integrity, and professionalism
Commissioners.
of the Board of Directors in performing its duties and
considers the Board of Directors’ proposal based on
performance and audit findings.
Pemegang Saham memutuskan dan menetapkan
Dewan Komisaris mengusulkan remunerasi bagi Direksi
remunerasi, honorarium, tantiem dan fasilitas lainnya
dan Dewan Komisaris kepada Pemegang Saham.
bagi Direksi dan Dewan Komisaris melalui RUPS.
Board of Commissioners proposes remuneration for
Shareholders decide and determine remuneration,
the Board of Directors and Board of Commissioners to
honorarium, tantiem, and other facilities for the Board of
Shareholders.
Directors and Board of Commissioners through GMS.
Struktur Remunerasi Dewan Komisaris Remuneration Structure of the Board of
Commissioners
Remunerasi Dewan Komisaris untuk tahun buku 2025 The remuneration of the Board of Commissioners for the
ditetapkan berdasarkan Keputusan Rapat Umum 2025 fiscal year was determined based on the Resolution
Pemegang Saham (RUPS) Perseroan No. 263/MK/ of the Company’s General Meeting of Shareholders (GMS)
KN/2025 tanggal 16 Juli 2025, yang mencakup beberapa No. 263/MK/KN/2025 dated July 16, 2025, which comprises
komponen, antara lain: several components, including:
1. Honorarium; 1. Honorarium
2. Tunjangan Jabatan; 2. Position Allowance
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
3. Tunjangan Hari Raya (THR); 3. Religious Holiday Allowance (THR)
4. Tantiem. 4. Tantiem
PT SMI tidak memiliki program kepemilikan opsi saham In addition, the Company has no Management Stock
oleh manajemen (MSOP), dengan demikian tidak Ownership Program (MSOP), so there are no stock
terdapat opsi saham untuk Dewan Komisaris sebagai options for the Board of Commissioners as part of the
bagian dari paket remunerasi. remuneration package.
Berdasarkan struktur remunerasi yang telah disetujui, Based on the approved remuneration structure, the total
total remunerasi Dewan Komisaris untuk tahun buku remuneration for the Board of Commissioners for 2025
2025 ditetapkan sebesar Rp21.181.150.742 dengan rincian fiscal year amounted to IDR21,181,150,742, with the following
sebagai berikut: details:
Nama Honorium (Rp) Tunjangan Jabatan (Rp) Honorium (Rp) Tantiem (Rp)
No Honorarium (IDR) Position Allowance (IDR) Honorarium (IDR) Tantiem (IDR)
Name
1 Suminto* V V V V
2 Suryo Utomo* V V V V
3 Andin Hadiyanto** V V V V
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Nama Honorium (Rp) Tunjangan Jabatan (Rp) Honorium (Rp) Tantiem (Rp)
No Honorarium (IDR) Position Allowance (IDR) Honorarium (IDR) Tantiem (IDR)
Name
4 Askolani** V V V V
Ancella Anitawati
5 V V V V
Hermawan
6 Dikdik Yustandi V V V V
7 Arief Wibisono Lubisc V V V V
v: ada / Yes
x: tidak ada / No
*Berhenti menjabat per 7 Mei 2025
** Mulai menjabat per 7 Mei 2025
*No longer served since May 7, 2025
**Served since May 7, 2025
Jumlah yang diterima pada Tahun 2025
Jenis Remunerasi & Fasilitas Lain Total Remuneration Received in 2025
Types of Remuneration & Other Facilities Orang Rupiah
Person IDR
Remunerasi (Honor, Tunjangan, THR, Tantiem)
Remuneration (Honorarium, Allowance, Religious Holiday Allowance, Tantiem/ 5 21.181.150.742
Bonuses)
Total 5 21.181.150.742
Di luar komponen remunerasi tersebut, tidak ada opsi saham yang diterima oleh anggota Dewan Komisaris.
Apart from these remuneration components, no stock options are received by the members of the Board of Commissioners.
STRUKTUR REMUNERASI DEWAN REMUNERATION STRUCTURE OF THE
PENGAWAS SYARIAH SHARIA SUPERVISORY BOARD
Remunerasi Dewan Pengawas Syariah untuk tahun The remuneration of the Sharia Supervisory Board for the
2025 ditetapkan berdasarkan Keputusan Rapat Umum 2025 fiscal year was determined based on the Resolution
Pemegang Saham Perseroan No. SR-06/SMI/DK/1025 of the Company’s General Meeting of Shareholders (GMS)
tanggal 7 Oktober 2025, yang mencakup beberapa No. SR-06/SMI/DK/1025 dated Oktober 7, 2025, which
komponen, antara lain: comprises several components, including:
1. Honorarium; 1. Honorarium
2. Tunjangan Hari Raya (THR); 2. Holiday Allowance (THR)
3. Apresiasi/Bonus. 3. Appreciation/Bonuses
PT SMI tidak memiliki program kepemilikan opsi saham In addition, the Company has no Management Stock
oleh manajemen (MSOP), sehingga Dewan Pengawas Ownership Program (MSOP), so there are no stock
Syariah tidak memperoleh opsi saham sebagai bagian options for the Sharia Supervisory Board as part of the
dari paket remunerasinya. Adapun tahun buku 2025, total remuneration package. In 2025, the total remuneration
remunerasi Dewan Pengawas Syariah yang disetujui oleh for the Sharia Supervisory Board approved by the GMS PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
RUPS mencapai Rp1.877.259.168, dengan rincian sebagai amounted to IDR1,877,259,168, with the following details:
berikut:
Apresiasi / Bonus (Rp)
Nama Honorium (Rp) Honorium (Rp)
No Honorarium (IDR) Honorarium (IDR)
Appreciation / Bonuses
Name
(IDR)
1 Kanny Hidaya V V V
2 Abdul Mughni* V V V
3 Muhammad Faishol** V V V
v: ada / Yes
x: tidak ada / No
*Berhenti menjabat per 7 Mei 2025
** Mulai menjabat per 7 Mei 2025
*No longer served since May 7, 2025
**Served since May 7, 2025
505
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05 Tata Kelola Perusahaan
Good Corporate Governance
Jumlah yang diterima pada Tahun 2025
Jenis Remunerasi & Fasilitas Lain Total Remuneration Received in 2025
Types of Remuneration & Other Facilities Orang Rupiah
Person IDR
Remunerasi (Honor, THR, Apresiasi/Bonus)
1.877.259.168
Remuneration (Honorarium, Religious Holiday Allowance, Appreciation/ 2
1,877,259,168
Bonuses)
1.877.259.168
Total 2
1,877,259,168
Di luar komponen remunerasi tersebut, tidak ada opsi saham yang diterima oleh anggota Dewan Pengawas Syariah.
Apart from these remuneration components, no stock options are received by the members of the Sharia Supervisory Board.
Struktur Remunerasi Direksi Remuneration Structure of the Board of
Directors
Penetapan remunerasi Direksi untuk tahun buku 2025 The remuneration of the Board of Directors for the 2025
didasarkan pada Keputusan Rapat Umum Pemegang fiscal year was determined based on the Resolution of
Saham Perseroan No. 263/MK/KN/2025 tanggal 16 Juli the Company’s General Meeting of Shareholders (GMS)
2025, yang mencakup beberapa komponen remunerasi No. 263/MK/KN/2025 dated July 16, 2025, which comprises
sebagai berikut: several components, including:
1. Gaji; 1. Salary
2. Tunjangan Jabatan; 2. Position Allowance
3. Tunjangan Perumahan 3. Housing Allowance
4. Tunjangan Hari Raya (THR); 4. Religious Holiday Allowance (THR)
5. Tantiem. 5. Tantiem/Bonuses
Perseroan tidak mempunyai program kepemilikan opsi In addition, the Company has no Management Stock
saham oleh manajemen (MSOP), sehingga Direksi tidak Ownership Program (MSOP), so there are no stock options
memperoleh opsi saham sebagai bagian dari paket for the Board of Directors as part of the remuneration
remunerasinya. Untuk tahun buku 2025, total remunerasi package. In 2025, the total remuneration for the
Direksi yang disetujui oleh RUPS ditetapkan sebesar Board of Directors approved by the GMS amounted to
Rp49.080.440.058, dengan rincian sebagai berikut: IDR49,080,440,058, with the following details:
Tunjangan Jabatan Tunjangan Hari Raya
Honorium (Rp)
Nama (Rp) (Rp) Tantiem (Rp)
No Honorarium
Position Allowance Religious Holiday Tantiem (IDR)
Name
(IDR)
(IDR) Allowance (IDR)
1 Reynaldi Hermansjah V V V V
2 Faaris Pranawa V V V V
3 Sylvi Juniarty Gani V V V V
4 Pradana Murti V V V V
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
5 Aradita Priyanti V V V V
Jumlah yang diterima pada Tahun 2025
Jenis Remunerasi & Fasilitas Lain Total Remuneration Received in 2025
Types of Remuneration & Other Facilities Orang Rupiah
Person IDR
Remunerasi (Gaji, Tunjangan Jabatan, Tunjangan Perumahan, THR, Tantiem)
Remuneration (Salary, Position Allowance, Housing Allowance, Religious Holiday 5 49.080.440.058
Allowance, Tantiem/Bonuses)
Total 5 49.080.440.058
Di luar komponen remunerasi tersebut, tidak ada opsi saham yang diterima oleh anggota Direksi.
Apart from these remuneration components, no stock options are received by the members of the Board of Directors.
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HUBUNGAN AFILIASI ANTARA DEWAN
KOMISARIS, DEWAN PENGAWAS SYARIAH,
ANGGOTA DIREKSI, DAN PEMEGANG
SAHAM UTAMA/PENGENDALI
AFFILIATION BETWEEN THE BOARD OF COMMISSIONERS,
SHARIA SUPERVISORY BOARD, MEMBERS OF THE BOARD OF
DIRECTORS, AND MAJORITY/CONTROLLING SHAREHOLDERS
DEWAN KOMISARIS BOARD OF COMMISSIONERS
Seluruh anggota Dewan Komisaris menegaskan All members of the Board of Commissioners affirm
komitmennya untuk senantiasa menjaga integritas their commitment to consistently uphold integrity and
dan independensi dalam menjalankan setiap mandat independence in carrying out their supervisory mandate.
pengawasan. Selain itu juga memastikan tidak adanya They also ensure the absence of any conflict of interest
benturan kepentingan yang dapat memengaruhi that could affect the execution of their duties, including
pelaksanaan tugas, termasuk hubungan profesional professional relationships with the shareholder, thereby
dengan pemegang saham, sehingga objektivitas dan maintaining the objectivity and accountability of the
akuntabilitas Dewan Komisaris tetap terpelihara. Board of Commissioners.
Hubungan Keluarga dengan Hubungan Keuangan dengan
Familial Affiliation with Financial Affiliation with
Nama dan Jabatan Dewan Dewan
Name and Position Direksi Pemegang Direksi Pemegang
Komisaris Komisaris
Board of Saham Board of Saham
Board of Board of
Directors Shareholders Directors Shareholders
Commissioners Commissioners
Andin Hadiyanto
Komisaris Utama X X X X X X
President Commissioner
Askolani
Komisaris X X X X X X
Commissioner
Ancella Anitawati Hermawan
Komisaris Independen X X X X X X
Independent Commissioner
Dikdik Yustandi
Komisaris Independen X X X X X X
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Independent Commissioner
Arief Wibisono Lubis
Komisaris Independen X X X X X X
Independent Commissioner
v: Memiliki hubungan afiliasi Has affiliation
x: Tidak memiliki hubungan afiliasi Has no affiliation
Dewan Pengawas Syariah Sharia Supervisory Board
Tidak terdapat anggota Dewan Pengawas Syariah yang In 2025, there were no members of the Sharia Supervisory
memiliki hubungan afiliasi secara hubungan keluarga Board with affiliation, either through familial ties or
maupun hubungan keuangan/usaha dengan pemegang financial/business connections, with the majority/
saham utama/pengendali maupun organ Perseroan controlling shareholders or other organs of the Company.
lainnya di tahun 2025.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Hubungan Keluarga dengan Hubungan Keuangan dengan
Familial Affiliation with Financial Affiliation with
Nama dan Jabatan Dewan Dewan
Name and Position Direksi Pemegang Direksi Pemegang
Komisaris Komisaris
Board of Saham Board of Saham
Board of Board of
Directors Shareholders Directors Shareholders
Commissioners Commissioners
Kanny Hidaya
Ketua Dewan Pengawas
Syariah X X X X X X
Chairman of the Sharia
Supervisory Board
Muhammad Faishol
Anggota Dewan
Pengawas Syariah X X X X X X
Member of the Sharia
Supervisory Board
Keterangan Notes:
v: Memiliki hubungan afiliasi Has affiliation
x: Tidak memiliki hubungan afiliasi Has no affiliation
Direksi Board of Directors
Di tahun 2025, tidak terdapat Direksi PT SMI yang memiliki In 2025, there were no members of the Board of Directors
hubungan afiliasi secara hubungan keluarga maupun with affiliation, either through familial ties or financial/
hubungan keuangan/usaha dengan pemegang saham business connections, with the majority/controlling
utama/pengendali maupun organ Perseroan lainnya. shareholders or other organs of the Company.
Hubungan Keluarga dengan Hubungan Keuangan dengan
Familial Affiliation with Financial Affiliation with
Nama dan Jabatan Dewan Dewan
Name and Position Direksi Pemegang Direksi Pemegang
Komisaris Komisaris
Board of Saham Board of Saham
Board of Board of
Directors Shareholders Directors Shareholders
Commissioners Commissioners
Reynaldi Hermansjah
Direktur Utama X X X X X X
President Director
Faaris Pranawa
Direktur X X X X X X
Director
Sylvi Juniarty Gani
Direktur X X X X X X
Director
Pradana Murti
Direktur X X X X X X
Director
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Aradita Priyanti
Direktur X X X X X X
Director
Keterangan Notes:
v: Memiliki hubungan afiliasi Has affiliation
x: Tidak memiliki hubungan afiliasi Has no affiliation
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PENILAIAN PENERAPAN TATA KELOLA
PERUSAHAAN TAHUN 2025
ASSESSMENT OF THE COMPANY’S GCG
IMPLEMENTATION IN 2025
KRITERIA PENILAIAN ASSESSMENT CRITERIA
PT SMI secara konsisten melaksanakan pengukuran dan PT SMI consistently conducts periodic measurement and
penilaian atas penerapan GCG secara berkala sebagai assessment of its GCG implementation as part of its
upaya untuk memperkuat dan menyempurnakan praktik efforts to strengthen and enhance governance practices
tata kelola yang mendukung kinerja perusahaan. Proses that support corporate performance. This assessment
penilaian ini bertujuan untuk memperoleh gambaran process aims to obtain an overview of the effectiveness of
mengenai tingkat efektivitas implementasi GCG di GCG implementation within the Company, with reference
lingkungan Perseroan dengan mengacu pada standar to the minimum standards and recommendations that
minimum serta rekomendasi yang wajib dipenuhi. must be fulfilled.
Kegiatan evaluasi tahunan atas penerapan GCG juga The annual evaluation of GCG implementation also forms
menjadi bagian dari pemenuhan ketentuan Pasal 72 part of compliance with Article 72 of the Regulation of the
Peraturan Menteri Keuangan (PMK) No. 88/PMK.06/2015 Minister of Finance No. 88/PMK.06/2015 concerning the
tentang Penerapan Tata Kelola Perusahaan yang Implementation of Good Corporate Governance in State-
Baik pada Perusahaan Perseroan (Persero) di bawah Owned Companies (Persero) under the Guidance and
Pembinaan dan Pengawasan Menteri Keuangan. Supervision of the Minister of Finance. The assessment is
Adapun penilaian dilakukan berdasarkan parameter dan conducted based on the parameters and methodology
metodologi yang tercantum dalam Keputusan Menteri set out in Decree of the Minister of Finance No. 505/
Keuangan No. 505/KMK.06/2020 tentang Pedoman KMK.06/2020 concerning Guidelines for the Assessment
Penilaian dan Evaluasi atas Penerapan Tata Kelola and Evaluation of the Implementation of Good Corporate
Perusahaan yang Baik pada Perusahaan Perseroan Governance in State-Owned Companies (Persero) under
(Persero) di bawah Pembinaan dan Pengawasan Menteri the Guidance and Supervision of the Minister of Finance.
Keuangan.
Metodologi penilaian tersebut mencakup enam aspek The assessment methodology covers six main aspects,
utama, yaitu: namely:
Komitmen
terhadap
Penerapan
Tata Kelola Pengungkapan
Pemegang Dewan
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Perusahaan Informasi dan
Saham dan Komisaris
yang Baik Secara Direksi Transparansi Aspek Lain
RUPS Board of
Board of Directors Other Aspects
Berkelanjutan Information
Shareholders and Commissioners
Commitment Disclosure and
GMS
on Sustainable Transparency
Implementation of
Good Corporate
Governance
Penilaian penerapan GCG di PT SMI memiliki tujuan untuk: The assessment of GCG implementation within the
Company aims to:
1. Memenuhi ketentuan peraturan perundang- 1. Complying with applicable laws and regulations;
undangan yang terkait;
2. Mengetahui kualitas penerapan GCG Perseroan 2. Assessing the quality of the Company’s GCG
selama tahun berjalan; implementation during the current year;
3. Meningkatkan dan memperkuat kualitas penerapan 3. Improving and strengthening the quality of governance
tata kelola pada area-area yang masih perlu practices in areas that require improvement and
diperkuat dan ditingkatkan; dan development; and
4. Memenuhi arahan Pemegang Saham dalam rangka 4. Meeting Shareholders’ directives in achieving the
mencapai Indeks Kunci Utama (IKU) Perseroan. Company’s Key Performance Indicators (KPIs). 509
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05 Tata Kelola Perusahaan
Good Corporate Governance
Pihak yang Melakukan Penilaian Assessors
Penilaian penerapan GCG di PT SMI pada tahun 2025 The assessment of GCG implementation at PT SMI in
dilakukan oleh Badan Pengawasan Keuangan dan 2025 was conducted by the Financial and Development
Pembangunan (BPKP). Penunjukan pihak penilai tersebut Supervisory Agency (BPKP). The appointment of the
telah disetujui oleh Dewan Komisaris berdasarkan Surat assessor was approved by the Board of Commissioners
Dewan Komisaris Nomor S-61/SMI/DK/1025 tanggal 10 based on Letter of the Board of Commissioners No. S-61/
Oktober 2025 perihal Tanggapan atas Penunjukan Badan SMI/DK/1025 dated October 10, 2025, concerning Response
Pengawasan Keuangan dan Pembangunan (“BPKP”) to the Appointment of the Financial and Development
sebagai Penilai pada Penilaian Penerapan Tata Kelola Supervisory Agency (“BPKP”) as the Assessor fore Good
Perusahaan yang Baik (“GCG Assessment”) PT Sarana Corporate Governance Assessment (“GCG Assessment”)
Multi Infrastruktur (Persero) (“PT SMI”) Tahun 2025. of PT Sarana Multi Infrastruktur (Persero) for 2025.
Rekomendasi Area of Improvement atas Recommendations for Areas of
Penerapan Tata Kelola Perusahaan Tahun Improvement in the Company’s GCG
2025 Implementation in 2025
Hasil asesmen yang dilaksanakan oleh BPKP menunjukkan The results of the assessment conducted by BPKP indicate
bahwa penerapan GCG PT SMI pada tahun 2025 meraih that PT SMI’s GCG implementation in 2025 achieved
skor 92,840 dengan predikat “Sangat Baik”. Capaian a score of 92.840 with a rating of “Very Good”. This
tersebut mencerminkan peningkatan dibandingkan achievement reflects an increase compared to the 2024
hasil penilaian tahun 2024 yang memperoleh skor 92,075 assessment result, which obtained a score of 92.075 with
dengan kategori yang sama. Adapun ringkasan hasil the same category. A summary of the Company’s GCG
evaluasi penerapan GCG Perseroan untuk tahun 2025 implementation evaluation results for 2025 is presented
disajikan sebagai berikut: as follows:
% Capaian
2024 % Capaian 2025
Aspek Tata Kelola Bobot Skor 2024 Skor 2025
No. % % Achievement
Aspect of GCG Assesment Weight Score in 2024 Score in 2025
Achievement in 2025
in 2024
Komitmen terhadap Penerapan Tata
Kelola Perusahaan yang Baik Secara
Berkelanjutan
1. 7,000 6,619 94,56% 6,708 95,833 %
Commitment on Sustainable
Implementation of Good Corporate
Governance
Pemegang Saham
2. 9,000 8,870 98,56% 8,784 97,597%
Shareholders
Dewan Komisaris
3. 35,000 33,533 95,81% 33,994 97,124%
Board of Commissioners
Direksi
4. 35,000 32,940 94,11% 33,986 94,246%
Board of Directors
Pengungkapan Informasi dan
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Transparansi
5. 9,000 8,029 89,22% 8,285 92,052%
Information Disclosure and
Transparency
Aspek Lain
6. 5,000 2,083 41,67% 2,083 41,667%
Other Aspects
Skor Keseluruhan Sangat Baik Sangat Baik
100,000 92,075 92,840
Total Score Very Good Very Good
Berdasarkan hasil evaluasi penerapan GCG tahun 2025, Based on the assessment result of GCG implementation
pihak penilai mengemukakan sejumlah rekomendasi in 2025, the assessors provided several recommendations
peningkatan atau Area of Improvement (AoI) pada for improvement (Areas of Improvement/AoI) for several
beberapa aspek, antara lain mencakup: aspects, including:
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Aspek Tata Kelola Rekomendasi Perbaikan
Aspect of GCG Assesment Recommendations for Areas of Improvement (AoI)
Komitmen terhadap Penerapan Tata Menginstruksikan Divisi Sumber Daya Manusia untuk melakukan pemutakhiran atas Surat
Kelola Perusahaan yang Baik Secara Keputusan Direksi Nomor SK-015/SMI/1123 tentang Penetapan Personil Unit Pengelola Laporan
Berkelanjutan Harta Kekayaan Penyelenggara Negara di Lingkungan PT Sarana Multi Infrastruktur (Persero)
Commitment on Sustainable Instructing the Human Capital Division to update the Board of Directors Decree Number
Implementation of Good Corporate SK-015/SMI/1123 on the Appointment of Personnel for the State Officials’ Assets Report
Governance Management Unit (LHKPN) within PT Sarana Multi Infrastruktur (Persero).
1. Menyusun kajian dampak atas amanat/arahan Presiden pada Pidato Presiden Republik
Indonesia terkait isu penghapusan tantiem Dewan Komisaris dan relevansinya dengan
BUMN SMV Kementerian Keuangan.
2. Melakukan upaya-upaya untuk menindaklanjuti AoI yang dihasilkan dari asesmen atas
pelaksanaan tata Kelola Perusahaan yang baik periode sebelumnya.
Pemegang Saham
1. Preparing an impact assessment on the President’s mandate/direction as stated in the
Shareholders
speech of the President of the Republic of Indonesia regarding the issue of abolishing
tantiem for the Board of Commissioners and its relevance to SOE Special Mission Vehicles
of Ministry of Finance (BUMN SMV).
2. Take steps to address the areas of concern identified in the assessment of corporate
governance practices from the previous period.
Menginstruksikan Sekretaris Dewan Komisaris untuk menyusun sistematika monitoring tindak
lanjut (TL) atas arahan Dewan Komisaris yang lebih terstruktur dan terukur, dengan memuat
klasifikasi status progres tindak lanjut (misalnya: belum ditindaklanjuti, sedang dilaksanakan,
selesai) serta timeline penyelesaian yang jelas untuk setiap arahan. Sistematika tersebut
dapat dilengkapi dengan target waktu penyelesaian, penanggung jawab unit kerja, serta
indikator kemajuan pelaksanaan sehingga Dewan Komisaris dapat memantau secara lebih
Dewan Komisaris
efektif dan periodik terhadap perkembangan implementasi arahan.
Board of Commissioners
To instruct Secretary of the Board of Commissioners to developing a more structured and
measurable monitoring framework for follow-up actions on the Board of Commissioners’
directives, including classification of progress status (e.g., not yet initiated, in progress,
completed) and clear timelines for each directive. This framework may also include target
completion dates, responsible units, and implementation progress indicators to enable more
effective and periodic monitoring by the Board of Commissioners.
1. Menginstruksikan Divisi Sumber Daya Manusia bersama Divisi Sekretariat Perusahaan
untuk:
a. Menyusun rencana pelatihan Direksi yang dilengkapi dengan rincian tema atau topik
pelatihan, penyelenggara kegiatan, serta estimasi Anggaran yang dibutuhkan untuk
masing-masing kegiatan.
b. Memastikan rencana pelatihan Direksi diselaraskan dengan kebutuhan
pengembangan kompetensi Direksi serta dimuat secara lebih rinci dalam dokumen
perencanaan Perusahaan (RKAP).
c. Memastikan penyusunan dan penandatanganan laporan hasil pelaksanaan
pelatihan Direksi dilakukan secara tepat waktu sebagai bagian dari tertib
administrasi dan dokumen kegiatan.
2. Mengimplementasikan ICoFR secara menyeluruh pada 3 lini manajemen (pemilik risiko,
unit yang memiliki fungsi pemastian dan audit interim).
Direksi
Board of Directors
1. Instruct the Human Resources Division, in collaboration with the Corporate Secretariat
Division, to:
a. Develop a training plan for the Board of Directors that includes details on training
themes or topics, the organizers of the activities, and the estimated budget required
for each activity.
b. Ensure that the Board of Directors’ training plan is aligned with the Board’s
competency development needs and is included in greater detail in the Company’s
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
planning document (RKAP).
c. Ensure that the preparation and signing of reports on the implementation of Board
of Directors’ training are carried out in a timely manner as part of administrative
procedures and activity documentation.
2. Implement ICoFR comprehensively across the three lines of management (risk owners,
units with assurance functions, and interim audit).
Meningkatkan koordinasi dengan regulator khususnya terkait batas waktu pelaporan dalam
Pengungkapan Informasi dan
hal terdapat ketentuan yang memerlukan klarifikasi, guna meminimalisir risiko keterlambatan
Transparansi
pelaporan di masa mendatang.
Information Disclosure
Enhancing coordination with regulators, particularly regarding reporting deadlines where
and Transparency
clarification of provisions is required, to minimize the risk of reporting delays in the future.
1. Melakukan gap assessment internal Laporan Tahunan terhadap nominasi ARA 2025 untuk
meningkatkan peluang masuk nominasi ARA.
2. Mendorong pengelolaan core business Perusahaan agar dapat menjadi referensi
benchmarking bagi Perusahaan lain.
3. Terus meningkatkan kinerja Perusahaan sehingga pada masa mendatang dapat meraih
penghargaan sebagai Perusahaan terbaik pada sektor Usaha yang relevan dengan core
Aspek Lain
bisnis PT SMI.
Other Aspects
1. Conducting an internal gap assessment of the Annual Report against the ARA 2025
nomination criteria to improve the Company’s chances of being shortlisted.
2. Promote the management of the Company’s core business so that it can serve as a
benchmark for other companies.
3. Continue to improve the Company’s performance so that in the future it can win awards
as the best company in the business sector relevant to PT SMI’s core business. 511
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05 Tata Kelola Perusahaan
Good Corporate Governance
HASIL TINDAK LANJUT REKOMENDASI PADA
AREA OF IMPROVEMENT PENILAIAN TATA
KELOLA PERUSAHAAN TAHUN 2024
FOLLOW UP ON THE RECOMMENDATIONS FOR AREAS
OF IMPROVEMENT (AOI) OF 2024 GCG ASSESSMENT
Perseroan tetap konsisten menerapkan praktik-praktik The Company is consistently committed to implementing
terbaik GCG di seluruh lini PT SMI dengan menindaklanjuti best practices of Good Corporate Governance (GCG)
hasil penilaian tata kelola pada tahun sebelumnya yang within PT SMI by addressing the findings from the previous
dituangkan dalam Area of Improvement (AoI) pada year's GCG assessment, as outlined in the Areas of
setiap aspek penilaian. Progres pelaksanaan dan status Improvement (AoI) for each aspect of assessmen. The
pemenuhan atas rekomendasi AoI hingga 31 Desember progress of implementation and the status of fulfillment
2025 disajikan sebagai berikut: of the AoI recommendations as of 31 December 2025 are
presented as follows:
Pemenuhan AoI per 31 Desember 2025
AoI Fulfillment as of December 31, 2025
Aspek AoI 2023 dan 2024
Aspect 2023 and 2024 AoI AoI Belum Selesai
Persentase
Diselesaikan Percentage
Ditindaklanjuti
AoI Completed Not yet Followed Up
Komitmen
2 2 100% -
Commitment
Pemegang Saham
- - - -
Shareholders
Dewan Komisaris
2 2 100% -
Board of Commissioners
Direksi
5 4 80% 1
Board of Directors
Keterbukaan Informasi
4 3 75% 1
Information Transparency
Jumlah
13 11 84,62% 2
Total
Adapun AoI yang belum dapat diselesaikan pada The AoI that could not be completed during the
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
periode penilaian umumnya terkait aspek-aspek assessment period generally relate to aspects beyond the
yang berada di luar kewenangan langsung Perseroan, Company’s direct authority, particularly those associated
khususnya yang berhubungan dengan keikutsertaan with participation in the ARA. Entering 2026, the Company
dalam ARA. Memasuki tahun 2026, Perseroan akan terus will continue to pursue the fulfillment of these AoI in
mengupayakan pemenuhan atas AoI tersebut sesuai accordance with its scope and capacity.
ruang lingkup dan kapasitas yang dimiliki.
SELF-ASSESSMENT PERINGKAT SELF-ASSESSMENT OF THE
IMPLEMENTASI TATA KELOLA COMPANY’S 2025 GCG
PERUSAHAAN TAHUN 2025 IMPLEMENTATION RATING
Perseroan juga melaksanakan penilaian atas The Company also conducted a self-assessment of
implementasi GCG tahun 2025. Proses penilaian secara its 2025 GCG implementation. This assessment was
mandiri ini mengacu pada Pasal 44 ayat (4) Peraturan conducted in accordance with Article 44 paragraph
Otoritas Jasa Keuangan Nomor 16 Tahun 2024 tentang (4) of the Regulation of the Financial Services Authority
Pengawasan PT Sarana Multi Infrastruktur (Persero) No. 16 of 2024 concerning the Supervision of PT Sarana
dan Surat Edaran Otoritas Jasa Keuangan Nomor 27/ Multi Infrastruktur (Persero) and Circular Letter No. 27/
SEOJK.05/2021 tentang Penilaian Tingkat Kesehatan SEOJK.05/2021 concerning the Assessment of the Financial
Perusahaan Pembiayaan Infrastruktur. Soundness of Infrastructure Financing Companies.
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Laporan hasil penilaian internal atas penerapan GCG The results of the self-assessment on the implementation
tahun 2024]5 telah disampaikan kepada Otoritas of Good Corporate Governance (GCG) for 2025 have
Jasa Keuangan (OJK) melalui Surat Nomor: S-15/SMI/ been reported to the Financial Services Authority (OJK)
DMR/0226 tanggal 9 Februari 2026 tentang Penyampaian based on Letter Number: S-15/SMI/DMR/0226 dated
Laporan Hasil Penilaian Sendiri atas Tingkat Kesehatan PT February 9, 2026, concerning the Submission of the Self-
Sarana Multi Infrastruktur (Persero) (“PT SMI”) Posisi Akhir Assessment Report on the Soundness Level of PT Sarana
Desember 2025. Penilaian tersebut menunjukkan bahwa Multi Infrastruktur (Persero) (“PT SMI”) as of the end of
implementasi GCG di Perseroan berada pada Peringkat December 2025. The self-assessment report stated that
Individual 1 dengan penjelasan sebagai berikut: the implementation of GCG in the Company received an
Individual Rating of 1 with the following details:
1. Struktur Tata Kelola (Governance Structure) 1. Governance Structure
PT SMI telah memiliki dan memenuhi seluruh struktur PT SMI has established and fulfilled all governance
dan infrastruktur tata kelola secara lengkap sesuai structures and infrastructures in compliance with
dengan ketentuan peraturan perundang-undangan applicable laws and regulations as well as the
yang berlaku dan kebijakan/prosedur internal Company’s internal policies/procedures.
Perseroan.
2. Proses Tata Kelola (Governance Process) 2. Governance Process
PT SMI telah menjalankan dan memonitor seluruh PT SMI has implemented and monitored all
proses tata kelola sesuai dengan struktur dan governance processes in accordance with the existing
infrastruktur tata Kelola yang ada di PT SMI termasuk governance structure and infrastructure, including
ketentuan internal PT SMI dan peraturan perundang- internal regulations of PT SMI and applicable laws.
undangan yang berlaku.
3. Hasil Penerapan Tata Kelola (Governance Outcome) 3. Governance Outcome
PT SMI telah menerapkan tata kelola di seluruh PT SMI has implemented governance across all
lini bisnis dan operasional sesuai dengan prinsip business lines and operations in accordance with
keterbukaan atau transparansi dan kepatuhan the principles of transparency and compliance
terhadap ketentuan yang berlaku dan dapat diketahui with applicable regulations, which are accessible to
oleh Pemegang Saham dan seluruh stakeholders. shareholders and all stakeholders.
Dalam hal terdapat kelemahan dalam hasil penerapan In cases where there are weaknesses identified in the
prinsip tata kelola perusahaan yang baik, secara umum implementation of good corporate governance principles,
kelemahan tersebut bersifat tidak signifikan dan telah such weaknesses are generally not significant and have
ditindaklanjuti melalui langkah perbaikan segera sesuai been promptly addressed through corrective actions
dengan ketentuan dan kebijakan Manajemen PT SMI. in accordance with PT SMI’s management policies and
struktur tata kelola (governance outcome). procedures.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
513
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05 Tata Kelola Perusahaan
Good Corporate Governance
KOMITE DAN ORGAN DEWAN KOMISARIS
COMMITTEES AND SUPPORTING ORGANS OF
THE BOARD OF COMMISSIONERS
Peran pengawasan Dewan Komisaris dijalankan secara The supervisory role of the Board of Commissioners is carried
lebih efektif dengan dukungan komite dan struktur out more effectively with the support of committees and
pendukung yang dibentuk khusus untuk memastikan supporting structures established specifically to ensure that
kualitas tata kelola perusahaan tetap terjaga. Di dalam the quality of corporate governance is maintained. Within
struktur tersebut, Dewan Komisaris memperoleh asistensi this structure, the Board of Commissioners is assisted by
dari Komite Audit, Komite Nominasi dan Remunerasi, the Audit Committee, the Nomination and Remuneration
Komite Pemantau Risiko, serta Sekretariat Dewan Committee, the Risk Monitoring Committee, and the
Komisaris, yang masing-masing memiliki mandat dan Board of Commissioners Secretariat, each of which has
cakupan fungsi yang saling melengkapi. complementary mandates and functional scopes.
Pembentukan dan operasional komite serta organ The establishment and operation of these committees and
pendukung tersebut berpedoman pada ketentuan supporting organs are guided by applicable regulations,
yang berlaku, antara lain Peraturan Menteri Keuangan including Regulation of the Minister of Finance No. 88/
No. 88/PMK.06/2015 tentang Penerapan Tata Kelola PMK.06/2015 concerning the Implementation of Good
Perusahaan yang Baik pada Perusahaan Perseroan Corporate Governance in Limited Liability Companies
(Persero) di bawah Pembinaan dan Pengawasan (Persero) under the Guidance and Supervision of the Minister
Menteri Keuangan, Peraturan OJK No. 55/POJK/04/2015 of Finance, Regulation of the Financial Services Authority
tentang Pembentukan dan Pelaksanaan Komite Audit, No. 55/POJK.04/2015 concerning the Establishment and
serta Peraturan OJK No. 34/POJK.04/2014 tentang Komite Implementation of the Audit Committee, and Regulation of the
Nominasi dan Remunerasi pada Emiten atau Perusahaan Financial Services Authority No. 34/POJK.04/2014 concerning
Publik. Melalui dukungan struktur ini, Dewan Komisaris the Nomination and Remuneration Committee of Issuers or
dapat menjalankan fungsi pengawasan secara lebih Public Companies. Through this supporting structure, the Board
terarah, objektif, dan akuntabel. of Commissioners is able to perform its supervisory function in
a more focused, objective, and accountable manner.
KOMITE AUDIT AUDIT COMMITTEE
Pembentukan Komite Audit di lingkungan Perseroan The Company established the Audit Committee in 2009 as
telah dilaksanakan sejak tahun 2009 sebagai bagian part of its compliance with the Regulation of the Financial
dari pemenuhan ketentuan tata kelola dan regulasi, Services Authority No. 55/POJK.04/2015, which mandates
khususnya Peraturan Otoritas Jasa Keuangan No. 55/ that Issuers or Public Companies must have an Audit
POJK.04/2015 yang mewajibkan setiap Emiten atau Committee. The Audit Committee was formed to assist
Perusahaan Publik memiliki Komite Audit. Keberadaan the Board of Commissioners in performing its duties and
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Komite Audit berperan mendukung Dewan Komisaris supervisory functions over the Company's management,
dalam menjalankan fungsi pengawasan terhadap particularly in matters related to:
pengelolaan perusahaan, khususnya terkait:
1. Kualitas pelaporan keuangan, proyeksi dan laporan 1. Quality of financial reporting, projection, and other
lainnya yang terkait dengan informasi keuangan reports related to the Company's financial information;
Perseroan;
2. Efektivitas tata kelola perusahaan; 2. Corporate governance effectiveness;
3. Sistem pengendalian internal; 3. Internal control system;
4. Auditor internal dan akuntan publik; 4. Internal auditor and public accountant;
5. Efektivitas sistem manajemen risiko; 5. Risk management system effectiveness;
6. Prosedur evaluasi yang memuaskan terhadap segala 6. Satisfactory evaluation procedure on any information
informasi yang dikeluarkan Perseroan; issued by the Company;
7. Pengaduan yang berkaitan dengan proses akuntansi 7. Complaints related to the Company’s accounting
dan pelaporan keuangan Perseroan; dan and financial reporting process; and
8. Kepatuhan Perseroan terhadap peraturan 8. The Company's compliance with laws and regulations.
perundangundangan.
Komite Audit menjalankan fungsi dalam memberikan The Audit Committee performs its function by providing
informasi, analisis, dan pandangan secara independen information, analysis, and independent views to the
514 kepada Dewan Komisaris. Setiap temuan atau isu Board of Commissioners. Any findings or issues requiring
Page 245
yang memerlukan perhatian segera dilaporkan sesuai immediate attention are reported in accordance with the
ketentuan Anggaran Dasar, prinsip tata kelola perusahaan provisions of the Articles of Association, the principles of
yang baik, serta regulasi yang berlaku. Adapun penetapan good corporate governance, and applicable regulations.
maupun pemberhentian anggota Komite Audit dilakukan The appointment and dismissal of Audit Committee
melalui Keputusan Dewan Komisaris, dan seluruh aktivitas members are carried out through a Resolution of the
komite dipertanggungjawabkan langsung kepada Dewan Board of Commissioners, and all committee activities
Komisaris. are directly accountable to the Board of Commissioners.
Piagam Komite Audit Audit Committee Charter
PT SMI telah menetapkan Piagam Komite Audit sejak PT SMI has established an Audit Committee Charter since
2009 sebagai pedoman kerja resmi bagi Komite Audit. 2009 as the official work guideline for the Audit Committee.
Dokumen tersebut memuat ketentuan mengenai The document sets out provisions regarding membership
komposisi keanggotaan, struktur, tata kelola, persyaratan composition, structure, governance, membership
keanggotaan termasuk persyaratan kompetensi dan requirements including competency and independence
independensi, wewenang, tugas & tanggung jawab, criteria, authority, duties and responsibilities, procedures,
tata cara, rapat pertemuan dan prosedur kerja, serta meeting arrangements and working procedures, as well
pelaporan Komite Audit. as reporting of the Audit Committee.
Piagam ini dievaluasi dan diperbarui secara berkala This Charter is periodically evaluated and updated to
guna memastikan keselarasan dengan perkembangan ensure alignment with business developments and
bisnis dan regulasi yang berlaku. Piagam Komite Audit applicable regulations. The Audit Committee Charter
yang digunakan saat ini merupakan hasil pembaruan currently in use reflects the latest revision dated November
terakhir pada 28 November 2025. Sejalan dengan 28, 2025. In line with the principle of transparency, the
prinsip keterbukaan informasi, Piagam Komite Audit Audit Committee Charter has been published on the
telah dipublikasikan melalui situs web Perseroan Company’s website, making it accessible to stakeholders
sehingga dapat diakses oleh pemangku kepentingan and the public.
dan masyarakat.
Komposisi dan Profil Komite Audit Composition and Profile of the Audit
Committee
Komite Audit Perseroan ditetapkan dan diberhentikan The Company's Audit Committee may be appointed and
oleh Dewan Komisaris. Komposisi keanggotaannya dismissed by the Board of Commissioners. According
disusun dengan merujuk pada ketentuan PMK No. 88/ Regulation of the Minister of Finance No. 88/PMK.06/2015
PMK.06/2015 serta POJK No. 55/POJK.04/2015, yang and Regulation of the Financial Services Authority No. 55/
mengatur bahwa Komite Audit sedikitnya terdiri dari POJK.04/2015, the Audit Committee shall consist of at
3 (tiga) orang yang terdiri dari 1 (satu) orang anggota least 3 (three) members comprising 1 (one) Independent
Komisaris Independen sebagai ketua, 1 (satu) orang Commissioner serving as Head, 1 (one) independent
anggota dari pihak independen yang memiliki keahlian member with expertise in finance or accounting, and 1
di bidang keuangan atau akuntansi, serta 1 (satu) orang (one) independent member with expertise relevant to
anggota dari pihak independen yang memiliki keahlian the Company’s line of business. The composition of the
di bidang usaha Perseroan. Komposisi Komite Audit Company’s Audit Committee in 2025 is as follows:
Perseroan pada tahun 2025 adalah sebagai berikut: PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Nama Jabatan di Komite Periode Jabatan Jabatan di Perseroan
Name Position in the Committee Term of Office Position in the Company
Ketua 5 Juli 2024 - 5 Juli 2029 Komisaris Independen
Ancella Anitawati Hermawan
Head July 5, 2024 – July 5, 2029 Independent Commissioner
Anggota 1 Juli 2025 – 1 Juli 2028 Pihak Independen
Mahdan*
Member July 1, 2025 – July 1, 2028 Independent Party
6 Oktober 2025 – 6 Oktober
Anggota 2028 Pihak Independen
Nurani Raswindriati**
Member October 6, 2025 – October 6, Independent Party
2028
6 Oktober 2022 – 6 Oktober
Anggota 2025 Pihak Independen
Widuri Meintari K.***
Member October 6, 2022 – October 6, Independent Party
2025
Anggota 17 Mei 2023 – 17 Mei 2026 Pihak Independen
Vidvant Brahmantyo****
Member May 17, 2023 – May 17, 2026 Independent Party
*Resmi menjabat per 1 Juli 2025 *Officially served since July 1, 2025
** Resmi menjabat per 6 Oktober 2025 **Officially served since October 6, 2025
*** Berhenti menjabat per 6 Oktober 2025 ***No longer served since October 6, 2025 515
**** Berhenti menjabat per 1 Juni 2025 ****No longer served since June 1, 2025
Page 246
05 Tata Kelola Perusahaan
Good Corporate Governance
Ancella Anitawati Hermawan
Ketua Komite Audit
Head of the Audit Committee
Beliau ditunjuk sebagai Ketua Komite Audit berdasarkan Surat Keputusan Dewan Komisaris No. SK-01/SMI/DK/0724 tanggal 24 Juli
2024 tentang Pemberhentian dan Pengangkatan Ketua Komite Audit PT Sarana Multi Infrastruktur (Persero). Profil Beliau dapat
dilihat pada Bab Profil Perusahaan dalam Laporan Tahunan ini.
She was appointed as Head of the Audit Committee pursuant to the Decree of the Board of Commissioners No. SK-01/SMI/DK/0724
dated July 24, 2024, concerning the Dismissal and Appointment of the Head of the Audit Committee of PT Sarana Multi Infrastruktur
(Persero). Her profile can be found in the Company Profile section of this Annual Report.
Mahdan
Anggota Komite Audit
Member of the Audit Committee
63 tahun
63 years old
Indonesia
Indonesian
Jakarta, Indonesia
Surat Keputusan Dewan Komisaris No. SK-03/SMI/DK/0725 tanggal 1 Juli 2025 tentang
Pemberhentian dan Pengangkatan Anggota Komite Audit PT Sarana Multi Infrastruktur
Dasar Hukum Pengangkatan (Persero).
Legal Basis of Appointment Decree of the Board of Commissioners No. SK-03/SMI/DK/0725 dated July 1, 2025,
concerning the Dismissal and Appointment of Members of the Audit Committee of PT
Sarana Multi Infrastruktur (Persero).
• Magister Akuntansi, Universitas Indonesia (2010)
Riwayat Pendidikan • Sarjana Akuntansi, Universitas Indonesia (1987)
Educational Background • Master of Accounting, University of Indonesia (2010)
• Bachelor of Accounting, University of Indonesia (1987)
• Banking Risk Management Certification: Levels 1–5 (BSMR), Level 7 (LSPP, 2024)
Sertifikasi • Basic Commissioner Certification – Certification of Indonesian Financing Profession
Certification (SPPI, 2023)
• Certified Public Accountant (1988)
• Anggota Komite Audit, PT Sarana Multi Infrastruktur (Persero) (2025 - sekarang)
• Anggota Komite Audit dan Komite Pemantau Risiko, PT Bank Neo Commerce
(September 2024 – Agustus 2025)
• Director of Risk, Compliance, Audit, & Regulatory Affairs, PT MNC Kapital Indonesia
(Agustus 2022 – Juni 2024)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• President Commissioner, PT MNC Finance (Desember 2023 – Juni 2024)
• President Commissioner, PT MNC Leasing (Februari 2024 – Juni 2024)
• Commissioner, PT MNC Bank International (Agustus 2022 – Februari 2024)
• President Director, PT MNC Bank International (Desember 2018 – Juli 2022)
• Director of Compliance, PT MNC Bank International (Oktober 2018 – April 2019)
Riwayat Pekerjaan
• Head of Group Internal Audit, PT MNC Asia Holding (Juli 2018 – September 2018)
Career History • Head of Group Internal Audit, PT Global Mediacom (September 2014 – Juni 2018)
• Director of Compliance, Legal, & Corporate Secretariat, PT Bank DBS Indonesia (Januari
2010 – September 2014)
• Director of Compliance, Bank of Tokyo Mitsubishi UFJ (September 2008 – Desember
2009)
• Compliance Officer, HSBC – The Hong Kong & Shanghai Banking Corporation (Agustus
2007 – Agustus 2008)
• Head of Global Consumer Banking Internal Audit, Citibank (April 1994 – Juli 2007)
• Assistant to Senior Auditor, Arthur Young International (Ernst & Young) (September 1988
– Maret 1990)
516
Page 247
• Assistant to Senior Auditor, Amir Abadi Jusuf (RSM) (Agustus 1987 – Agustus 1988)
• Member of the Audit Committee, PT Sarana Multi Infrastruktur (Persero) (2025 - present)
• Member of the Audit Committee and Risk Monitoring Committee, PT Bank Neo
Commerce (September 2024 – August 2025)
• Director of Risk, Compliance, Audit, & Regulatory Affairs, PT MNC Kapital Indonesia
(August 2022 – June 2024)
• President Commissioner, PT MNC Finance (December 2023 – June 2024)
• President Commissioner, PT MNC Leasing (February 2024 – June 2024)
• Commissioner, PT MNC Bank International (August 2022 – February 2024)
• President Director, PT MNC Bank International (December 2018 – July 2022)
• Director of Compliance, PT MNC Bank International (October 2018 – April 2019)
• Head of Group Internal Audit, PT MNC Asia Holding (July 2018 – September 2018)
• Head of Group Internal Audit, PT Global Mediacom (September 2014 – June 2018)
• Director of Compliance, Legal, & Corporate Secretariat, PT Bank DBS Indonesia (January
2010 – September 2014)
• Director of Compliance, Bank of Tokyo Mitsubishi UFJ (September 2008 – December
2009)
• Compliance Officer, HSBC – The Hong Kong & Shanghai Banking Corporation (August
2007 – August 2008)
• Head of Global Consumer Banking Internal Audit, Citibank (April 1994 – July 2007)
• Assistant to Senior Auditor, Arthur Young International (Ernst & Young) (September 1988
– March 1990)
• Assistant to Senior Auditor, Amir Abadi Jusuf (RSM) (August 1987 – August 1988)
Tidak mempunyai rangkap jabatan baik sebagai anggota Dewan Komisaris, anggota
Direksi, dan/atau anggota komite serta jabatan lainnya di Perseroan.
Rangkap Jabatan
Has no concurrent positions, neither as a member of the Board of Commissioners nor a
Concurrent Position member of the Board of Directors, and/or other committee members and other positions in
the Company
Tidak memiliki hubungan afiliasi baik dengan anggota Direksi, anggota Dewan Komisaris
Hubungan Afiliasi lainnya maupun dengan pemegang saham pengendali dan utama.
Affiliation Has no affiliation with members of the Board of Directors, other members of the Board of
Commissioners or with the controlling and major shareholders.
Nurani Raswindriati
Anggota Komite Audit
Member of the Audit Committee
63 tahun
63 years old
Indonesia
Indonesian
Jakarta, Indonesia
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Surat Keputusan Dewan Komisaris No. SK-05/SMI/DK/1025 tanggal 6 Oktober 2025 tentang
Pemberhentian dan Pengangkatan Anggota Komite Audit PT Sarana Multi Infrastruktur
Dasar Hukum Pengangkatan (Persero).
Legal Basis of Appointment Decree of the Board of Commissioners No. SK-05/SMI/DK/1025 dated October 6, 2025
concerning the Dismissal and Appointment of Members of the Audit Committee of PT
Sarana Multi Infrastruktur (Persero).
• Magister Manajemen, Universitas Gadjah Mada (2005)
Riwayat Pendidikan • Sarjana Akuntansi, Universitas Padjajaran (1986)
Educational Background • Master of Management, Gadjah Mada University (2005)
• Bachelor of Accounting, Padjadjaran University (1986)
517
Page 248
05 Tata Kelola Perusahaan
Good Corporate Governance
• Sertifikat Kompetensi Kualifikasi 6 Bidang Manajemen Risiko Perbankan yang diperoleh
pada September 2025 dari Lembaga Sertifikasi Profesi – LSPP Jakarta
• Risk Management Certificate, Level I, BSMR (2007)
• Risk Management Certificate, Level II, BSMR (2008)
• Risk Management Certificate, Level III, BSMR (2009)
• International Certificate in Banking Risk and Regulation, GARP (2009)
• Certificate of Competence, Bank Risk Management, Level IV, LSPP (2016)
• Refreshment, Bank Risk Management Level IV, LSPP (2018)
• Certificate of Completion, Dasar-Dasar Perbankan Syariah, Karim Consulting Indonesia
(2016)
• Compliance Certificate, Level Executive, LSPP (2017)
• Refreshment, Compliance Certificate, Level Executive, LSPP (2020)
• Certified Governance Oversight Professional, Lembaga Sertifikasi Profesi - MK (2024)
Sertifikasi
• Certification of Competency Level 6 in Banking Risk Management, obtained in September
Certification 2025 from the Professional Certification Institute for Banking (LSPP), Jakarta
• Certified Governance Oversight Professional, Lembaga Sertifikasi Profesi-MK (2024)
• Risk Management Certificate, Level I, BSMR (2007)
• Risk Management Certificate, Level II, BSMR (2008)
• Risk Management Certificate, Level III, BSMR (2009)
• International Certificate in Banking Risk and Regulation, GARP (2009)
• Certificate of Competence, Bank Risk Management, Level IV, LSPP (2016)
• Refreshment, Bank Risk Management Level IV, LSPP (2018)
• Certificate of Completion, Fundamentals of Sharia Banking, Karim Consulting Indonesia
(2016)
• Compliance Certificate, Executive Level, LSPP (2017)
• Refreshment, Compliance Certificate, Executive Level, LSPP (2020)
• Certified Governance Oversight Professional, Lembaga Sertifikasi Profesi - MK (2024)
• Anggota Komite Audit, PT Sarana Multi Infrastruktur (Persero) (2025 - sekarang)
• Anggota Komite Pemantau Risiko, PT Jakarta Propertindo (Perseroda) (Januari 2024 –
Oktober 2025)
• Anggota Komite Tata Kelola Terintegrasi, PT Bank Negara Indonesia (Juni 2022 –
September 2025)
• Anggota Komite Pemantau Risiko, PT Bank Negara Indonesia (Persero) (Juli 2021 – Mei
2022)
• Senior Vice President, Indonesia Eximbank (Maret 2021 – Juli 2021)
• Direktur Manajemen Risiko & Kepatuhan, PT Bank Victoria Syariah (September 2016 –
Februari 2021)
• Anggota Komite Pemantau Risiko, PT Bank Tabungan Negara (Persero) (November 2015 –
September 2016)
• Anggota Komite Pemantau Risiko, Bank Resona Perdania (November 2015 – September
2016)
• Deposit Insurance Agency, Lembaga Penjamin Simpanan (Juli 2012 – November 2015)
• Head of Credit Risk Control, Risk Management Gorup, PT Bank Permata Tbk (Oktober 2007
– Juli 2012)
• Direktur Operasional dan Keuangan, PT Niaga International Factors (Subs of Bank Niaga)
(September 2002 – November 2005)
• PT Bank Niaga, Tbk (1988 – 2007)
• Officer Development Program, PT Bank Niaga (November 1986 – Maret 1988)
• Junior Akuntan, PT Cipendawa Jakarta (Juli 1986 – Oktober 1986)
Riwayat Pekerjaan
• Member of the Audit Committee, PT Sarana Multi Infrastruktur (Persero) (2025 – present)
Career History • Member of the Risk Monitoring Committee, PT Jakarta Propertindo (Perseroda) (January
2024 – October 2025)
• Member of the Integrated Governance Committee, PT Bank Negara Indonesia (June 2022
– September 2025)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Member of the Risk Monitoring Committee, PT Bank Negara Indonesia (Persero) (July 2021
– May 2022)
• Senior Vice President, Indonesia Eximbank (March 2021 – July 2021)
• Director of Risk Management and Compliance, PT Bank Victoria Syariah (September 2016 –
February 2021)
• Member of the Risk Monitoring Committee, PT Bank Tabungan Negara (Persero)
(November 2015 – September 2016)
• Member of the Risk Monitoring Committee, Bank Resona Perdania (November 2015 –
September 2016)
• Deposit Insurance Agency, Indonesia Deposit Insurance Corporation (July 2012 – November
2015)
• Head of Credit Risk Control, Risk Management Group, PT Bank Permata Tbk (October 2007
– July 2012)
• Director of Operations and Finance, PT Niaga International Factors (Subsidiary of Bank
Niaga) (September 2002 – November 2005)
• PT Bank Niaga Tbk (1988 – 2007)
• Officer Development Program, PT Bank Niaga (November 1986 – March 1988)
• Junior Accountant, PT Cipendawa Jakarta (July 1986 – October 1986)
Tidak mempunyai rangkap jabatan baik sebagai anggota Dewan Komisaris, anggota Direksi,
dan/atau anggota komite serta jabatan lainnya di Perseroan.
Rangkap Jabatan
Has no concurrent positions, neither as a member of the Board of Commissioners nor a
Concurrent Position member of the Board of Directors, and/or other committee members and other positions in the
Company.
Tidak memiliki hubungan afiliasi baik dengan anggota Direksi, anggota Dewan Komisaris
518 Hubungan Afiliasi lainnya maupun dengan pemegang saham pengendali dan utama.
Affiliation Has no affiliation with members of the Board of Directors, other members of the Board of
Commissioners or with the controlling and major shareholders.
Page 249
Independensi Komite Audit Independence of the Audit Committee
Seluruh anggota Komite Audit PT SMI telah memenuhi All members of the Audit Committee have fulfilled the
aspek dan kriteria independensi Komite Audit independence aspect and criteria pursuant to the
sebagaimana ditetapkan dalam POJK No. 55/ Regulation of the Financial Service Authority No. 55/
POJK.04/2015, yang meliputi: POJK.04/2015, as follows:
1. Bukan merupakan orang dalam Kantor Akuntan Publik, 1. Not part of a Public Accounting Firm, Legal Consultant
Kantor Konsultan Hukum, Kantor Jasa Penilai Publik Firm, Public Appraisal Firm or other parties providing
atau pihak lain yang memberi jasa asuransi, jasa assurance services, non-assurance services, assessor
non-asuransi, jasa penilai dan/atau jasa konsultasi services and/or other consultancy services for the
lain kepada Perseroan dalam waktu 6 (enam) bulan Company within the last 6 (six) months;
terakhir;
2. Bukan merupakan orang yang bekerja atau 2. Not an employee of or hold authority and responsibility
mempunyai wewenang dan tanggung jawab untuk to plan, lead, control, or supervise the Company’s
merencanakan, memimpin, mengendalikan, atau business within the last 6 (six) months, except the
mengawasi kegiatan Perseroan dalam waktu 6 Independent Commissioner;
(enam) bulan terakhir, kecuali Komisaris Independen;
3. Tidak mempunyai hubungan afiliasi dengan anggota 3. Not affiliated with members of the Board of
Dewan Komisaris, anggota Direksi, atau Pemegang Commissioners, the Board of Directors or Major
Saham Utama Perseroan; dan Shareholders of the Company; and
4. Tidak mempunyai hubungan usaha baik langsung 4. Do not have direct or indirect business relationship
maupun tidak langsung yang berkaitan dengan with the Company’s business activities
kegiatan usaha Perseroan.
Sertifikasi Profesi Anggota Komite Audit Professional Certifications of Members of
the Audit Committee
PT SMI menempatkan peningkatan kapasitas sebagai PT SMI places capacity development as one of its key
salah satu prioritas utama dalam mendukung priorities in supporting the effectiveness of the Audit
efektivitas peran Komite Audit. Seluruh anggota Komite Committee’s role. All members of the Audit Committee are
Audit didorong untuk memiliki kompetensi teknis dan encouraged to possess adequate technical competence
pemahaman yang memadai agar mampu menjalankan and understanding to enable them to perform their
fungsi pengawasan secara optimal serta responsif supervisory function optimally and respond effectively
terhadap dinamika bisnis Perseroan. Adapun kualifikasi to the Company’s business dynamics. The qualifications
anggota komite dari sertifikasi yang dimiliki adalah of committee members based on the certifications they
sebagai berikut: hold are as follows:
Jabatan di
Nama Komite Sertifikasi yang dimiliki Tahun
Name Position in the Certifications Year
Committee
Sertifikasi Manajemen Risiko Perbankan Jenjang 4
2024
Banking Risk Management Certification Level 4
Sertifikasi Manajemen Risiko Perbankan Jenjang 5
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
2025
Banking Risk Management Certification Level 5
Sertifikasi Manajemen Risiko Perbankan Jenjang 6
Ketua Komite Audit 2025
Ancella Anitawati Banking Risk Management Certification Level 6
Head of the Audit
Hermawan
Committee Sertifikasi Manajemen Risiko Perbankan Jenjang 7
2025
Banking Risk Management Certification Level 7
Qualified Risk Governance Professional 2021
Chartered Global Management Accountant 2019
Chartered Accountant (CA) 2014
Banking Risk Management Certification: Levels 1–5
2024
(BSMR), Level 7 (LSPP)
Anggota Komite Audit
Mahdan Member of the Audit Basic Commissioner Certification – Certification of
2023
Committee Indonesian Financing Profession (SPPI)
Certified Public Accountant 1988
519
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05 Tata Kelola Perusahaan
Good Corporate Governance
Jabatan di
Nama Komite Sertifikasi yang dimiliki Tahun
Name Position in the Certifications Year
Committee
Management Certificate, Level I, BSMR 2007
Risk Management Certificate, Level II, BSMR 2008
Risk Management Certificate, Level III, BSMR 2009
Anggota Komite Audit
Nurani Raswindriati Member of the Audit International Certificate in Banking Risk and
2009
Committee Regulation, GARP
Certificate of Competence, Bank Risk Management,
2016
Level IV, LSPP
Refreshment, Bank Risk Management Level IV, LSPP 2018
Program Pengembangan Kompetensi Capacity Development Program of the
Komite Audit Audit Committee
Selama tahun 2025, Perseroan melaksanakan program Throughout 2025, the Company implemented capacity
pengembangan kompetensi bagi Komite Audit. Namun development programs for the Audit Committee. In
demikian, anggota komite senantiasa melakukan addition, members of the Committee continuously
program pengembangan kompetensi sesuai dengan participated in competency development programs
bidang dan keahlian masing-masing. Daftar kegiatan in accordance with their respective fields and areas
pelatihan dan peningkatan kompetensi yang diikuti of expertise. The list of training and competency
Komite Audit di sepanjang tahun 2025 adalah sebagai development activities attended by the Audit Committee
berikut: during 2025 is as follows:
Jenis Pendidikan Materi Pendidikan
Nama dan Jabatan dan Pelatihan dan Pelatihan Tempat/Tanggal Penyelenggara
Name and Position Type of Education Education and Date/Venue Organizer
and Training Training Materials
Telah disampaikan pada sub judul Pengembangan Kompetensi Dewan Komisaris di Bab Tata Kelola
Ancella Anitawati Perusahaan pada Laporan tahunan ini
Hermawan As disclosed under the sub-section Competency Development of the Board of Commissioners in the
Corporate Governance chapter of this Annual Report
Workshop Penilaian Risk
Maturity Index ("RMI") PT
Sarana Multi Infrastruktur
(Persero) dan
Peningkatan Manajemen Direktorat Manajemen
Risiko Berdasarkan Hasil Risiko PT SMI dan Tim
Bogor, 6 - 7 Oktober
Gap Analysis PricewaterhouseCoopers
2025
Workshop on the (“PwC”)
Mahdan Workshop Bogor, 6–7 October
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Assessment of the Risk Directorate of Risk
2025
Maturity Index (“RMI”) Management of PT SMI and
of PT Sarana Multi the PricewaterhouseCoopers
Infrastruktur (Persero) (“PwC”) Team
and Enhancement of
Risk Management Based
on the Results of the Gap
Analysis
Nurani Raswindriati - - - -
Pelaksanaan Rapat Komite Audit Implementation of the Audit Committee
Meetings
Komite Audit melaksanakan rapat berdasarkan ketentuan The Audit Committee conducts meetings in accordance
yang ditetapkan dalam POJK, PMK, serta Piagam Komite with the provisions of Regulation of the Financial Services
Audit. Komite Audit mengadakan rapat secara berkala Authority (POJK) and Regulation of the Minister of Finance
paling sedikit sekali dalam 3 (tiga) bulan, atau sekurang- (PMK) as stipulated in the Committee Charter. The Audit
kurangnya sama dengan jumlah minimum rapat Dewan Committee holds regular meetings at least once every 3
Komisaris yang ditetapkan dalam Anggaran Dasar, serta (three) months or at least as frequently as the minimum
dapat diadakan rapat tambahan bila diperlukan. Rapat number of Board of Commissioners' meetings required
Komite Audit harus dihadiri lebih dari ½ (satu per dua) by the Articles of Association. Additional meetings may
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dari komposisi komite. Untuk memastikan fleksibilitas dan be held as needed. Audit Committee meetings must
efektivitas pelaksanaan tugas, rapat dapat dilakukan be attended by more than half (½) of the committee
secara tatap muka maupun melalui sarana pertemuan members. To ensure flexibility and effectiveness in the
daring/online. performance of duties, meetings may be conducted
either in person or through virtual/online meeting facilities.
Sepanjang tahun 2025, Komite Audit telah Throughout 2025, the Audit Committee held a total
menyelenggarakan 36 (tiga puluh enam) kali rapat. of 36 (thirty-six) meetings. Details of the agenda and
Rincian agenda rapat serta tingkat kehadiran masing- attendance level of each member of the Audit Committee
masing anggota Komite Audit disajikan sebagai berikut: are as follows:
Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No
Date of Meeting Agenda
Meeting AAH WMK* VBO** M*** NR****
1. Kegiatan counterpart DAI
2. Update kegiatan/penugasan asuransi DAI
15 Januari 3. Monitoring tindak lanjut posisi Desember 2024
2025 1. Internal Audit Division counterpart activities
1. V V V - -
January 15, 2. Update on assurance activities/assignments of
2025 the Internal Audit Division
3. Monitoring of follow-up actions as of
December 2024
Tematik: Divisi Keuangan & Hubungan Investor
1. Perkembangan implementasi Albatros
2. Progres pencapaian KPI Divisi Keuangan dan
Hubungan Investor
16 Januari 3. Risk exposur Divisi Keuangan dan Hubungan
2025 Investor
2. V V V - -
January 16, Thematic: Finance & Investor Relations Division
2025 1. Progress of Albatros implementation
2. Progress of KPI achievement of the Finance &
Investor Relations Division
3. Risk exposure of the Finance & Investor Relations
Division
20 Januari
2025 Progres Audit Umum Tahun 2024
3. V V V - -
January 20, Progress of the 2024 General Audit
2025
24 Januari 'Pembahasan Investigasi Widodo Makmur Perkasa
2025 (Agenda Terbatas)
4. V V V - -
January 24, Discussion on the Investigation of Widodo Makmur
2025 Perkasa (Restricted Agenda)
3 Februari
2025 Progres Audit Umum Tahun 2024
5. V V V - -
February 3, Progress of the 2024 General Audit
2025 PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
13 Februari
2025 Closing Audit Umum Tahun 2024
6. V V V - -
February 13, Closing of the 2024 General Audit
2025
17 Februari Tematik
2025 Pembahasan TOR IcoFR
7. V V V - -
February 17, Thematic
2025 Discussion of the ICoFR Terms of Reference
Rutin
1. Kegiatan counterpart DAI
2. Update kegiatan/penugasan asuransi DAI
17 Februari 3. Monitoring tindak lanjut posisi Januari 2025
2025 Routine
8. V V V - -
February 17, 1. Internal Audit Division counterpart activities
2025 2. Update on assurance activities/assignments of
the Internal Audit Division
3. Monitoring of follow-up status as of January
2025
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No
Date of Meeting Agenda
Meeting AAH WMK* VBO** M*** NR****
Tematik: Divisi Pembiayaan Publik
1. Progres kinerja
2. Skema pembiayaan
3. Kerangka regulasi, tools dan internal framework
4. Dampak efisiensi terhadap bisnis pembiayaan
25 Februari
publik
2025
9. Thematic: Public Financing Division V V V - -
February 25,
1. Performance progress
2025
2. Financing schemes
3. Regulatory framework, tools, and internal
framework
4. Impact of efficiency measures on the public
financing business
1. Tematik: Divisi Usaha Syariah
2. Alignment RJPP, RKAP, dan IKU
3. Inisiatif strategis dan progress pelaksanaannya
4. Kinerja & sinergi
5. Top risk & program mitigasi risiko
26 Februari 6. Tindak lanjut audit internal dan eksternal
2025 1. Thematic: Sharia Business Division
10. V V V - -
February 26, 2. Alignment of the Company’s Long-Term Plan
2025 (RJPP), Work Plan and Budget (RKAP), and KPIs
3. Strategic initiatives and implementation
progress
4. Performance & synergy
5. Top risks & risk mitigation programs
6. Follow-up on internal and external audit findings
Tematik: Divisi SDM
1. Pedoman dan kebijakan di bidang SDM
2. Isu kompetensi, potensi kesenjangan, dan
penanganannya
3. Risiko-risiko utama bidang SDM
19 Maret 2025
11. Thematic: Human Capital Division V V V - -
March 19, 2025
1. Guidelines and policies in the Human Capital
field
2. Competency issues, potential gaps, and
mitigation measures
3. Key risks in the Human Capital field
1. Kegiatan counterpart DAI
2. Update kegiatan/penugasan asuransi DAI
3. Monitoring tindak lanjut posisi Februari 2025
19 Maret 2025 1. Internal Audit Division counterpart activities
12. V V V - -
March 19, 2025 2. Update on assurance activities/assignments of
the Internal Audit Division
3. Monitoring of follow-up status as of February
2025
Tematik -DPPIK
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
1. Peran, tanggung jawab, dan KPI
2. Dampak perang tarif terhadap bisnis yang
ditangani DPPIK
3. Penanganan temuan audit internal dan
eksternal
4. Kendala-kendala dan sistem pengendalian
16 April 2025 internal
13. V V V - -
April 16, 2025 Thematic – Special Financing and Investment
Management Division
1. Roles, responsibilities, and KPIs
2. Impact of tariff wars on the business handled
by the Special Financing and Investment
Management Division
3. Handling of internal and external audit findings
4. Constraints and internal control systems
Kegiatan counterpart DAI
1. Update kegiatan/penugasan asuransi DAI
2. Monitoring tindak lanjut temuan audit
16 April 2025
14. Internal Audit Division counterpart activities V V V - -
April 16, 2025
1. Update on assurance activities/assignments of
the Internal Audit Division
2. Monitoring of follow-up actions on audit findings
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Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No
Date of Meeting Agenda
Meeting AAH WMK* VBO** M*** NR****
Tematik: Divisi Umum dan Pengadaan
1. Kebijakan, pedoman dan SOP
2. Aktivitas pengadaan dalam 5 Tahun terakhir (25
pengadaan terbesar
3. Temuan-temuan audit internal dan eksternal
4. KPI DUP Tahun 2024 dan 2025
5. Pengawakan dan sertifikasi
6. Strategi untuk memastikan GCG di bidang
Umum dan Pengadaan
7. Hal-hal yang memerlukan dukungan Dewan
23 Mei 2025 Komisaris untuk perbaikan ke depan
15. V V V - -
May 23, 2025 Thematic: General Affairs and Procurement Division
1. Policies, guidelines, and SOPs
2. Procurement activities over the last five years
(25 largest procurements)
3. Internal and external audit findings
4. DUP KPIs for 2024 and 2025
5. Staffing and certification
6. Strategy to ensure GCG in General Affairs and
Procurement
7. Matters requiring support from the Board of
Commissioners for future improvements
1. Kegiatan Counterpart DAI
2. Pelaksanaan RKPT DAI 2025
3. Permohonan revisi RKPT 2025
4. MONTILA April 2025
5. Progress Pengkinian Kebijakan Audit Internal
26 Mei 2025 1. Internal Audit Division counterpart activities
16. V V V - -
May 26, 2025 2. Implementation of the 2025 Internal Audit
Division Annual Work Plan
3. Request for revision of the 2025 Annual Work
Plan
4. MONTILA April 2025
5. Progress of the Internal Audit Policy Update
Tematik: Divisi Pendukung Operasional Pembiayaan
1. Organisasi, Tugas Pokok dan Fungsi
2. Pokok-pokok program di RJPP dan RKAP
3. Permasalahan compliance di DPOP
4. Penanganan aspek operasional pembiayaan
5. Pencapaian KPI 2024/2025
6. Pencegahan temuan audit berulang
24 Juni 2025 Thematic: Financing Operations Support Division
17. V V - - -
June 24, 2025 1. Organization, main duties, and functions
2. Key programs in the Company’s Long-Term Plan
(RJPP) and Work Plan and Budget (RKAP)
3. Compliance issues in Financing Operational
Management Division (DPOP)
4. Handling of financing operational aspects
5. KPI achievements for 2024/2025
6. Prevention of recurring audit findings
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
1. Kegiatan counterpart DAI
2. Update kegiatan/penugasan asuransi DAI
3. Monitoring tindak lanjut temuan audit
24 Juni 2025
18. 1. Internal Audit Division counterpart activities V V - - -
June 24, 2025
2. Update on assurance activities/assignments of
the Internal Audit Division
3. Monitoring of follow-up actions on audit findings
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Good Corporate Governance
Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No
Date of Meeting Agenda
Meeting AAH WMK* VBO** M*** NR****
Tematik: Divisi Pembiayaan - 1 dan
Divisi Pembiayaan - 2
1. Flow Chart Pembentukan CKPN Kolektif dan
Individu.
2. Profil Debitur DP 1.
3. Kategori Debitur Lancar, WL dan NPL (DP 1).
4. Team Member DP 1 dan DP 2.
5. Pencapaian DP 1 dan DP 2.
6. Profil Debitur DP 2.
7. Debitur Watchlist DP 2 (per Juni 2025).
8. CKPN Kolektif dan Individu per Juni 2025.
9. Tantangan DP 1 dan DP 2.
10. Strategi Tahun 2025.
11. Strategi Pancapaian DP 2.
Thematic: Financing Division 1 and Financing Division 2
1. Flow Chart for the Formation of Collective and
14 Juli 2025 Individual Allowance for Impairment Losses
19. V V - V -
July 14, 2025 (CKPN)
2. Debtor Profile of Financing Division 1
3. Categories of Current, Watchlist (WL), and NPL
Debtors (Financing Division 1)
4. Team Members of Financing Division 1 and
Financing Division 2
5. Performance Achievements of Financing Division 1
and Financing Division 2
6. Debtor Profile of Financing Division 2
7. Watchlist Debtors of Financing Division 2 (as of
June 2025)
8. Collective and Individual Allowance for
Impairment Losses (CKPN) as of June 2025
9. Challenges of Financing Division 1 and Financing
Division 2
10. Strategy for 2025
11. Strategy for Achieving Financing Division 2 Targets
Proyek ICOFR – Divisi Manajemen Risiko Terintegrasi
Pemaparan rencana implementasi ICOFR oleh DMRT
sebagai Project Team Leader yang dihadiri oleh
Deloitte sebagai konsultan eksternal.
14 Juli 2025 ICoFR Project – Integrated Risk Management Division
20. V V - V -
July 14, 2025 (DMRT)
Presentation of the ICoFR implementation plan by
Integrated Risk Management Division (DMRT) as
Project Team Leader, attended by Deloitte as the
external consultant.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
524
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Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No
Date of Meeting Agenda
Meeting AAH WMK* VBO** M*** NR****
Tematik – Divisi Pembiayaan Publik 2
1. Latar belakang pembentukan Divisi
Pembiayaan Publik 2
2. Struktur organisasi Divisi Pembiayaan Publik 2
3. Highlight of The blended financing platforms per
June 2025.
4. Blended Finance Partnership Model.
5. SGD Indonesia One.
6. Highlight SGD Indonesia One.
7. Produk SGD Indonesia One Blended Finance
untuk pencapaian SGDs di Indonesia.
8. Implementasi blended finance untuk Proyek
Hijau: Derisking dan Financing.
9. Implemented blended finance untuk proyek
hijau: Technical Assistance dan Financing.
10. Kolaborasi di bawah ETM Country Platform
Manager.
11. Highlight ETM Country Platform 2024
12. Geothermal Exploration Fund (Dana
Pembiayaan Infrastruktur Sektor Panas Bumi/
PISP).
13. Penggunaan Dana PISP.
14. General Overview – Tata Kelola Dana PISP.
15 Juli 2025
21. 15. Sumber Dana serta Alokasi Dana Awal dan V V - V -
July 15, 2025
Dana Kerjasama.
16. Struktur Kerjasama Fasilitas Pembiayaan
Eksplorasi (Geothermal Resource Risk
Mitigation/GREM)
17. Struktur Kerjasama Pada Fasilitas Pembiayaan
Eksplorasi (SOE Drilling).
18. Struktur Kerjasama Fasilitas Dukungan
Eksplorasi (GEUDP dan Governance Drilling PISP).
19. Fasilitas Pembiayaan Eksplorasi memiliki skema
risk sharing terhadap risiko eksplorasi dan
politik, memungkinkan forgiveness hingga 50%
dari fasilitas.
20. Gambaran Umum Alur Dukungan Eksplorasi
(sesuai PMK 80/2020).
21. Pipeline Pembiayaan Eksplorasi dan Dukungan
Eksplorasi.
22. Pelaporan.
23. Tantangan dari eksternal yang menyebabkan
pemanfaatan fasilitas GREM tidak dapat
dilakukan optimal oleh pengembang.
24. Perkembangan dan Critical Path Dukungan
Eksplorasi.
25. Inisiatif Kajian Pembentukan Trust Fund.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No
Date of Meeting Agenda
Meeting AAH WMK* VBO** M*** NR****
Thematic – Public Financing Division 2
1. Background of the establishment of Public
Financing Division 2
2. Organizational structure of Public Financing
Division 2
3. Highlights of the blended financing platforms as
of June 2025
4. Blended Finance Partnership Model
5. SDG Indonesia One
6. Highlights of SDG Indonesia One
7. SDG Indonesia One blended finance products
to support the achievement of the SDGs in
Indonesia
8. Implementation of blended finance for Green
Projects: Derisking and Financing
9. Implemented blended finance for green
projects: Technical Assistance and Financing
10. Collaboration under the ETM Country Platform
Manager
11. Highlights of the ETM Country Platform 2024
12. Geothermal Exploration Fund (Geothermal
Sector Infrastructure Financing Fund/PISP)
13. Utilization of PISP funds
14. General Overview – Governance of PISP Funds
15. Funding sources and allocation of initial funds
and cooperation funds
16. Cooperation structure of the Geothermal
Resource Risk Mitigation (GREM) facility
17. Cooperation structure for the Exploration
Financing Facility (SOE Drilling)
18. Cooperation structure of exploration support
facilities (GEUDP and Governance Drilling PISP)
19. The exploration financing facility applies a risk-
sharing scheme for exploration and political
risks, allowing forgiveness of up to 50% of the
facility
20. General overview of the exploration support flow
(in accordance with Regulation of the Minister of
Finance No. 80/2020)
21. Pipeline of exploration financing and exploration
support
22. Reporting
23. External challenges affecting optimal utilization
of the GREM facility by developers
24. Progress and critical path of exploration support
25. Study initiative on the establishment of a Trust
Fund
1. Kegiatan counterpart DAI.
2. Kegiatan audit dan advisory DAI.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
3. Monitoring tindak lanjut temuan audit.
16 Juli 2025
22. 1. Internal Audit Division counterpart activities V V - V -
July 16, 2025
2. Audit and advisory activities of the Internal Audit
Division
3. Monitoring of follow-up on audit findings
1. Kegiatan counterpart DAI.
2. Kegiatan audit dan advisory DAI.
22 Agustus
3. Monitoring tindak lanjut temuan audit.
2025
23. 1. Internal Audit Division counterpart activities. V V - V -
August 22,
2. Audit and advisory activities of the Internal Audit
2025
Division.
3. Monitoring of follow-up on audit findings.
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Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No
Date of Meeting Agenda
Meeting AAH WMK* VBO** M*** NR****
Tematik: Divisi Manajemen Risiko Terintegrasi
1. Landasan Kebijakan dan Metodologi
Perhitungan CKPN, yang mencakup: (a) PSAK
109: Klasifikasi instrumen keuangan dilakukan
berdasarkan uji SPPI dan model bisnis; (b)
Pendekatan umum CKPN kolektif pada
instrumen keuangan yang diklasifikasikan
sebagai amortized cost dan FVOCI; dan (c)
Pendekatan umum CKPN pada instrumen
keuangan syariah mengacu pada POJK 16
tahun 2024.
2. Prosedur penentuan CKPN, yang mencakup: (a)
Asumsi utama dalam penentuan CKPN kolektif;
(b) Peran penentuan nilai agunan dan jaminan
(guarantee); (c) Review approval process; dan
(d) Pola kordinasi DMRT, DEPI, unit bisnis, dan
divisi terkait dalam penentuan CKPN kolektif.
3. Rincian CKPN per 31 Juli 2025: (a) CKPN
berdasarkan kolektibilitas, tahapan (stage)
dan jenis pembiayaan; (b) Pembalikan dan
pembentukan CKPN atas pokok pembiayaan
dalam 3 (tiga) tahun terakhir; dan (c) CKPN
individu.
4. Masukan DMRT untuk unit bisnis dalam
pemantauan kolektibilitas dan CKPN.
Thematic: Integrated Risk Management Division
22 Agustus
1. Policy basis and methodology for Allowance
2025
24. for Impairment Losses (CKPN) calculation, V V - V -
August 22,
including: (a) PSAK 109: Classification of financial
2025
instruments based on the SPPI test and business
model; (b) General approach for collective CKPN
for financial instruments classified as amortized
cost and FVOCI; and (c) General approach for
CKPN on Sharia financial instruments referring
to Regulation of the Financial Services Authority
No. 16 of 2024.
2. Procedures for determining CKPN, including:
(a) Key assumptions in determining collective
CKPN; (b) Role of collateral and guarantee
valuation; (c) Review approval process; and
(d) Coordination patterns among Integrated
Risk Management Division (DMRT), Financing &
Investment Evaluation Division (DEPI), business
units, and related divisions in determining
collective CKPN.
3. Details of CKPN as of July 31, 2025, including:
(a) CKPN by collectibility, stage, and type of
financing;
(b) Reversal and formation of CKPN on financing
principal over the last three years; and
(c) Individual CKPN. PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
4. Input from Integrated Risk Management
Division (DMRT) to business units in monitoring
collectibility and CKPN.
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Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No
Date of Meeting Agenda
Meeting AAH WMK* VBO** M*** NR****
Tematik: Divisi Akuntansi & Administrasi Aset
1. Prosedur Pembentukan CKPN, yang mencakup:
(a) Kriteria penentuan stage CKPN instrument
keuangan; (b) Mekanisme perhitungan CKPN
kolektif; (c) Mekanisme perhitungan CKPN
individu; (d) CKPN pembiayaan syariah; (e) Alur
data pembentukan CKPN; (f) Approval process
pengembangan model CKPN kolektif; (g)
Approval process pembentukan CKPN individu;
(h) Pola kordinasi dalam pembentukan CKPN.
2. Rincian Nilai CKPN, yang mencakup: (a) CKPN
berdasarkan jenis pembiayaan kolektibilitas
tahapan (stage) per 31 Juli 2025; (b)
Pembalikan dan pembentukan beban CKPN
individu; dan (c) Review/approval process.
27 Agustus
Thematic: Accounting & Asset Administration
2025
25. Division V V - V -
August 27,
1. Procedures for Allowance for Impairment Losses
2025
(CKPN) formation, including: (a) Criteria for
determining stages of financial instrument
CKPN; (b) Collective CKPN calculation
mechanism; (c) Individual CKPN calculation
mechanism; (d) CKPN for Sharia financing;
(e) Data flow for CKPN formation; (f) Approval
process for development of the collective CKPN
model; (g) Approval process for individual CKPN
formation; and (h) Coordination patterns in
CKPN formation.
2. Details of CKPN value, including: (a) CKPN by
type of financing collectibility stages as of July
31, 2025; (b) Reversal and formation of individual
CKPN expenses; and (c) Review/ approval
process.
Tematik – Divisi Evaluasi Pembiayaan & Investasi
1. Struktur Organisasi dan Tupoksi DEPI.
2. Job Description DEPI.
3. Peran DEPI dalam Penentuan CKPN.
4. Review atas Perhitungan CKPN Individu.
5. Data dan Informasi untuk Perhitungan CKPN.
6. Kajian dan penilaian risiko Calon Debitur /
Debitur untuk Corporate/Project/Municipal
Financing dan Calon Investee/Investee untuk
Aktivitas Equity Investment.
17 September 7. Penentuan Rating dan Re-rating Debitur untuk
26. V V - V -
2025 Project Financing, Corporate Financing, dan
Municipal Financing.
8. Monitoring Debitur Corporate/Project/Municipal
Financing (Re-rating dan Early Warning System)
dan Penentuan Watchlist.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
9. Proses Komunikasi DEPI dengan Risk Taking
Units.
10. Pengkinian Metode Rating dan Efektifitas Rating
sebagai Alert System.
11. Kelemahan dalam pengajuan usulan rating dari
risk taking division.
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Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No
Date of Meeting Agenda
Meeting AAH WMK* VBO** M*** NR****
Thematic – Financing & Investment Evaluation
Division
1. Organizational structure and main duties and
functions of Financing & Investment Evaluation
Division (DEPI)
2. Job description of DEPI
3. Role of DEPI in Allowance for Impairment Losses
(CKPN) determination
4. Review of individual CKPN calculations
5. Data and information for CKPN calculation
6. Risk assessment of prospective/existing debtors
for Corporate/ Project/ Municipal Financing
September 17, and prospective/ existing investees for Equity
V V - V -
2025 Investment activities
7. Determination of rating and re-rating of debtors
for Project Financing, Corporate Financing, and
Municipal Financing
8. Monitoring of Corporate/ Project/Municipal
Financing debtors (re-rating and Early Warning
System) and watchlist determination
9. Communication process between DEPI and Risk
Taking Units
10. Updating of rating methodology and
effectiveness of rating as an alert system
11. Weaknesses in rating proposal submissions
from risk-taking divisions
1. Kegiatan counterpart DAI.
2. Kegiatan audit dan advisory DAI.
26 September
3. Monitoring tindak lanjut temuan audit.
2025
27. 1. Internal Audit Division counterpart activities V V - V -
September 26,
2. Audit and advisory activities of the Internal Audit
2025
Division
3. Monitoring of follow-up on audit findings
1. Kegiatan Counterpart DAI
2. Update Kegiatan/Penugasan Asuransi DAI
10 Oktober
3. Montila September 2025
2025
28. 1. Internal Audit Division counterpart activities V - - V V
October 10,
2. Update on assurance activities/assignments of
2025
the Internal Audit Division
3. Monitoring of follow-up as of September 2025
Tematik – Divisi Pengembangan Korporasi dan
Manajemen Inisiatif
1. Struktur Organisasi dan Tupoksi Divisi
2. Key Performance Indicator (KPI) Divisi
3. Evaluasi Capaian Kinerja Divisi Corporate
Planning Jan-Sep 2025
4. Evaluasi Capaian Kinerja Divisi PMO Jan-Sep
2025
5. Kepatuhan atas Regulasi Terkait
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
6. Peta Risiko dan Pengendalian
7. Tindak Lanjut Temuan Audit
8. Permasalahan yang Dihadapi dan Dukungan
yang Diperlukan dari Direksi dan Komite Audit
10 Oktober
9. Highlight Kinerja PT SMI per Agustus 2025
2025
29. Thematic – Corporate Development and Initiative V - - V V
October 10,
Management Division
2025
1. Organizational Structure and Roles &
Responsibilities of the Division
2. Key Performance Indicators (KPIs) of Division
3. Performance Evaluation of the Corporate
Planning Division (Jan–Sep 2025)
4. Performance Evaluation of the PMO Division
(Jan–Sep 2025)
5. Compliance with Relevant Regulations
6. Risk Map and Controls
7. Follow-up on Audit Findings
8. Issues Encountered and Support Required from
the Board of Directors and the Audit Committee
9. PT SMI Performance Highlights as of August 2025
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Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No
Date of Meeting Agenda
Meeting AAH WMK* VBO** M*** NR****
1. Kegiatan Counterpart DAI
2. Update Kegiatan/Penugasan Asuransi DAI
24 November
3. Montila Oktober 2025
2025
30. 1. Internal Audit Division counterpart activities V - - V V
November 24,
2. Update on assurance activities/assignments of
2025
the Internal Audit Division
3. Monitoring of follow-up as of October 2025
Tematik Komite Audit & Komite Pemantau Risiko –
Divisi Kepatuhan
1. Struktur Organisasi Divisi Kepatuhan
2. Kerangka tata kelola operasional Divisi
Kepatuhan
3. Pelaksanaan Fungsi Kepatuhan
4. Penerapan APU PPT
5. Implementasi Good Corporate Governance
(GCG)
6. Unit Pengendalian Gratifikasi
7. Tindak Lanjut Arahan Dewan Komisaris/Komite
24 November Periode Sebelumnya
2025 Thematic – Audit Committee & Risk Monitoring
31. V - - V V
November 24, Committee – Compliance Division
2025 1. Organizational structure of the Compliance
Division
2. Operational governance framework of the
Compliance Division
3. Implementation of the compliance function
4. Implementation of AML-CFT (APU PPT)
5. Implementation of Good Corporate Governance
(GCG)
6. Gratification Control Unit
7. Follow-up on directives from the Board of
Commissioners/Committee from the previous
period
Tematik Komite Audit & Komite Pemantau Risiko –
Divisi Teknologi Informasi
1. Struktur organisasi dan tugas & tanggung
jawab Divisi TI.
2. Evaluasi penerapan Manajemen Risiko TI tahun
2025: (a) People; (b) Process; (c) Technology;
(d) Capital Expenditure 2025
3. Rencana Kerja TI tahun 2026.
4. Tindak lanjut hasil pemeriksaan audit eksternal
dan internal.
5. Evaluasi pelaporan TI kepada regulator.
6. Evaluasi IT General Controls (ITGC) &
Information Security
7. Cybersecurity & Vulnerability Management
8. IT Compliance, Governance & BCP/DRP
9. Infrastruktur & Integrasi Sistem
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
8 Desember
10. Roadmap Teknologi & Inovasi Digital
2025
32. 11. Hasil Rapat IT Steering Committee V - - V V
December 8,
Thematic – Audit Committee & Risk Monitoring
2025
Committee – Information Technology Division
1. Organizational structure and duties &
responsibilities of the IT Division
2. Evaluation of IT Risk Management
implementation in 2025: (a) People, (b) Process,
(c) Technology, (d) Capital Expenditure 2025
3. IT Work Plan for 2026
4. Follow-up on external and internal audit findings
5. Evaluation of IT reporting to regulators
6. Evaluation of IT General Controls (ITGC) &
Information Security
7. Cybersecurity & Vulnerability Management
8. IT Compliance, Governance & BCP/DRP
9. Infrastructure & System Integration
10. Technology Roadmap & Digital Innovation
11. Results of IT Steering Committee Meetings
11 Desember Kick Off Meeting Audit Umum Laporan Keuangan
2025 dengan KAP
33. V - - V V
December 11, Kick-Off Meeting for the General Audit of Financial
2025 Statements with the Public Accounting Firm
530
Page 261
Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No
Date of Meeting Agenda
Meeting AAH WMK* VBO** M*** NR****
Tematik Komite Audit & Komite Pemantau Risiko –
Divisi Audit Internal
15 Desember 1. Rencana Audit Internal 2026
2025 2. Rencana Reorganisasi Divisi Audit Internal
34. V - - V V
December 15, Thematic – Audit Committee & Risk Monitoring
2025 Committee – Internal Audit Division
1. Internal Audit Plan for 2026
2. Reorganization Plan of the Internal Audit Division
Tematik Komite Audit & Komite Pemantau Risiko &
17 Desember Tim ICoFR
2025 Update Implementasi IcoFR
35. V - - V V
December 17, Thematic – Audit Committee, Risk Monitoring
2025 Committee & ICoFR Team
Update on the implementation of ICoFR
Komite Audit - DAI :
1. Kegiatan Counterpart DAI
2. Update Kegiatan/Penugasan Asurans DAI
18 Desember
3. Montila November 2025
2025
36. Audit Committee – Internal Audit Division V - - V V
December 18,
1. Internal Audit Division counterpart activities
2025
2. Update on assurance activities/assignments of
the Internal Audit Division
3. Monitoring of follow-up as of November 2025
Jumlah Kehadiran
36 27 16 17 9
Total Attendance
Persentase Kehadiran
100% 100% 100% 100% 100%
Percentage of Attendance
Keterangan: Notes:
V : Hadir V : Present
V* : Hadir dengan Surat Kuasa V* : Present by Proxy
X : Tidak Hadir X : Absent
AAH : Ancella Anitawati Hermawan AAH : Ancella Anitawati Hermawan
WMK* : Widuri Meintari K - Berhenti menjabat per 6 Oktober 2025 WMK* : Widuri Meintari K – No longer served since October 6, 2025
VB** : Vidvant Brahmantyo – Berhenti menjabat per 1 Juni 2025 VB** : Vidvant Brahmantyo – No longer served since June 1, 2025
M*** : Mahdan* - Resmi menjabat per 1 Juli 2025 M*** : Mahdan* – Officially served since July 1, 2025
NR**** : Nurani Raswindriati* - Resmi menjabat per 6 Oktober 2025 NR**** : Nurani Raswindriati* – Officially served since October 6, 2025
Tugas dan Tanggung Jawab Komite Audit Duties and Responsibilities of the Audit
Committee
Berdasarkan Piagam Komite Audit, tugas dan tanggung The duties and responsibilities of the Audit Committee
jawab Komite Audit, yaitu: are stipulated in the Audit Committee Charter, including:
1. Membantu Dewan Komisaris Perseroan dalam 1. Assist the Board in Commissioners in ensuring
memberikan keyakinan yang memadai tentang adequate confidence of the effectiveness of internal
efektivitas sistem pengendalian internal dan control system and the performance of external
efektivitas pelaksanaan tugas auditor eksternal dan auditor and internal auditor; PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
auditor internal;
2. Menelaah pelaksanaan kegiatan dan hasil audit Divisi 2. Review audit implementation and audit results from
Audit Internal Perseroan maupun auditor eksternal; the Company’s internal Audit Division as well as
external auditor;
3. Memastikan telah terdapat prosedur evaluasi 3. Ensure satisfactory evaluation procedure regarding
yang memuaskan terhadap segala informasi yang all information released by the Company;
dikeluarkan Perseroan;
4. Melakukan penelaahan atas informasi keuangan 4. Conduct review of financial information released for
yang dikeluarkan kepada publik dan/atau pihak public and/or authorities, among others are financial
otoritas antara lain laporan keuangan, proyeksi statements, projection and other reports related to
dan laporan lainnya yang terkait dengan informasi the Company’s financial information;
keuangan Perseroan;
5. Melakukan identifikasi hal-hal yang memerlukan 5. Identify matters that need to be addressed by the
perhatian Dewan Komisaris Perseroan dan tugas- Board of Commissioners and other duties of the Board
tugas lain Dewan Komisaris Perseroan; of Commissioners;
6. Menyusun dan menyampaikan rencana kerja tahunan 6. Compile and present the annual work plan to
kepada Dewan Komisaris Perseroan untuk ditetapkan, be stipulated by the Board of Commissioners,
serta melaporkan pelaksanaannya kepada Dewan and to report its implementation to the Board of
Komisaris Perseroan; Commissioners; 531
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05 Tata Kelola Perusahaan
Good Corporate Governance
7. Melakukan penelaahan atas ketaatan terhadap 7. Conduct review on compliance with laws and
peraturan perundang-undangan yang berhubungan regulations related to the Company’s business;
dengan kegiatan Perseroan;
8. Memberikan pendapat independen dalam hal terjadi 8. Provide independent opinions on disputes between
perbedaan pendapat antara manajemen Perseroan the Company’s management and public accountant
dan akuntan publik atas jasa yang diberikannya; regarding the services that have been performed;
9. Menelaah pengaduan yang berkaitan dengan proses 9. Review complaints related to accounting and
akuntansi dan pelaporan keuangan Perseroan; reporting processes of the Company’s finances;
10. Menelaah dan memberikan saran kepada Dewan 10. Review and advise the Board of Commissioners
Komisaris Perseroan terkait dengan adanya potensi regarding the possibility of conflict of interest;
benturan kepentingan;
11. Menjaga kerahasiaan dokumen, data dan informasi 11. Maintain confidentiality of documents, data and
terkait kegiatan operasional Perseroan; information on the Company’s operations;
12. Memberikan rekomendasi kepada Dewan Komisaris 12. Provide recommendations to the Board of
Perseroan mengenai penunjukan akuntan publik Commissioners regarding the appointment of
yang didasarkan pada independensi, ruang lingkup public accountant, based on independence, scope
penugasan, dan imbalan jasa; dan of assignment and fees; and
13. Melakukan tugas lain yang diberikan oleh Dewan 13. Perform other duties from the Board of Commissioners.
Komisaris Perseroan.
Tanggung Jawab Komite Audit dalam Responsibilities of the Audit Committee
Pemberian Rekomendasi atas Penunjukan in Providing Recommendations for the
dan Pemberhentian Auditor Eksternal Appointment and Dismissal of External
Auditors
Komite Audit bertugas untuk memberikan rekomendasi The Audit Committee is tasked with providing
kepada Dewan Komisaris mengenai penunjukan Akuntan recommendations to the Board of Commissioners
Publik dan Kantor Akuntan Publik (KAP) untuk disampaikan regarding the appointment of Public Accountant
kepada Rapat Umum Pemegang Saham. Selanjutnya, and Public Accounting Firm to be presented at the
Komite Audit juga bertanggung jawab untuk melakukan General Meeting of Shareholders. Additionally, the
penelaahan atas kegiatan audit yang dilakukan oleh KAP. Audit Committee is responsible for reviewing the audit
Apabila dalam pelaksanaannya auditor eksternal tidak activities conducted by the Public Accounting Firm. If,
memenuhi standar dan ketentuan yang berlaku, maka during its implementation, the external auditor fails to
Komite Audit dapat memberikan rekomendasi kepada meet the applicable standards and regulations, the Audit
Dewan Komisaris terkait pemberhentian auditor eksternal. Committee may recommend the dismissal of the external
auditor to the Board of Commissioners.
Pelaksanaan Kegiatan Komite Audit Implementation of Duties of the Audit
di Tahun 2025 Committee in 2025
Sepanjang tahun 2025, Komite Audit PT Sarana Multi Throughout 2025, the Audit Committee of PT Sarana
Infrastruktur (Persero) melaksanakan tugas dan Multi Infrastruktur (Persero) carried out its duties and
tanggung jawabnya dalam mendukung Dewan Komisaris responsibilities in supporting the Board of Commissioners
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
menjalankan fungsi pengawasan terhadap pengelolaan in performing its supervisory function over the
Perseroan. management of the Company.
Pelaksanaan kegiatan Komite Audit dilakukan sesuai The Audit Committee’s activities were conducted in
dengan Piagam Komite Audit serta ketentuan tata kelola accordance with the Audit Committee Charter and
perusahaan yang berlaku, dengan tujuan memastikan applicable corporate governance provisions, with the
efektivitas penerapan prinsip-prinsip Good Corporate objective of ensuring the effective implementation of
Governance (GCG), pengelolaan risiko yang memadai, Good Corporate Governance (GCG) principles, adequate
keandalan sistem pengendalian internal, serta kepatuhan risk management, reliable internal control systems, and
terhadap peraturan perundang-undangan dan kebijakan compliance with prevailing laws and regulations as well
internal Perseroan. as the Company’s internal policies.
Dalam menjalankan perannya, Komite Audit In performing its role, the Audit Committee held 36 (thirty-
menyelenggarakan 36 (tiga puluh enam) kali rapat six) meetings, consisting of regular monthly meetings
yang berupa rapat rutin secara bulanan dengan Divisi with the Internal Audit Division and thematic meetings
Audit Internal dan rapat tematik bersama manajemen with management and relevant work units, and prepared
serta unit kerja terkait, serta menyusun berbagai evaluasi various evaluations and written reviews on strategic
dan kajian tertulis atas isu-isu strategis yang relevan issues relevant to the Company’s management.
dengan pengelolaan Perseroan.
532
Page 263
Melalui mekanisme tersebut, Komite Audit melakukan Through these mechanisms, the Audit Committee
penelaahan terhadap berbagai aspek yang berkaitan reviewed various aspects related to performance, risk,
dengan kinerja, risiko, tata kelola, serta efektivitas sistem governance, and the effectiveness of the Company’s
pengendalian internal Perseroan, serta menyampaikan internal control system, and provided advice and
saran dan rekomendasi kepada Dewan Komisaris guna recommendations to the Board of Commissioners to
mendukung pengambilan keputusan yang tepat dan support appropriate decision-making and maintain the
menjaga keberlanjutan usaha Perseroan. Company’s business sustainability.
Secara umum, realisasi program kerja Komite Audit In general, the realization of the Audit Committee’s work
selama tahun 2025 mencakup kegiatan pengawasan program in 2025 included supervisory activities in several
pada beberapa area utama, yaitu antara lain sebagai key areas, as follows:
berikut:
1. Pengawasan atas Kinerja Keuangan 1. Supervision of Financial Performance
a. Komite Audit melakukan penelaahan atas laporan a. The Audit Committee reviewed the Company’s
keuangan Perseroan sebelum dipublikasikan guna financial statements prior to publication to ensure
memastikan penyajiannya telah sesuai dengan that they were presented in accordance with
standar akuntansi dan ketentuan regulasi yang applicable accounting standards and regulatory
berlaku. requirements.
b. Komite Audit memantau perkembangan kinerja b. The Audit Committee monitored the development
keuangan Perseroan secara berkala, termasuk of the Company’s financial performance
pencapaian target yang telah ditetapkan dalam periodically, including the achievement of targets
Rencana Kerja dan Anggaran Perusahaan (RKAP). set in the Company’s Work Plan and Budget (RKAP).
c. Penelaahan dilakukan terhadap berbagai faktor c. Reviews were conducted on various factors
yang mempengaruhi kinerja keuangan Perseroan, affecting the Company’s financial performance,
antara lain pengelolaan portofolio pembiayaan, including financing portfolio management,
investasi, kualitas aset, serta kecukupan cadangan investments, asset quality, and the adequacy of
kerugian penurunan nilai. impairment allowances.
d. Komite Audit juga melakukan pembahasan d. The Audit Committee also conducted thematic
tematik dengan unit bisnis dan unit pendukung discussions with business and support units related
yang terkait dengan aktivitas pembiayaan dan to the Company’s financing and investment
investasi Perseroan dengan fokus pada penguatan activities, focusing on strengthening the quality
kualitas analisis pembiayaan, peningkatan of financing analysis, enhancing the application of
penerapan prinsip kehati-hatian dalam proses prudential principles in financing processes, and
pemberian pembiayaan, serta penguatan improving monitoring of debtor portfolio quality.
pemantauan kualitas portofolio debitur.
e. Komite Audit menekankan pentingnya konsistensi e. The Audit Committee emphasized the importance
dalam penerapan kebijakan pencadangan of consistency in the application of impairment
kerugian penurunan nilai (CKPN) yang didasarkan allowance policies (CKPN) based on adequate risk
pada analisis risiko yang memadai serta selaras analysis and aligned with accounting standards
dengan standar akuntansi dan ketentuan and regulatory requirements.
regulator.
f. Komite Audit juga memberikan perhatian terhadap f.The Audit Committee also paid attention to the PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
tata kelola pembiayaan publik serta berbagai governance of public financing as well as various
skema pembiayaan inovatif yang dikembangkan innovative financing schemes developed by the
Perseroan, termasuk blended finance, trust fund, Company, including blended finance, trust funds,
dan pembiayaan sektor energi terbarukan dan and renewable energy financing, and emphasized
menekankan pentingnya penguatan mitigasi the importance of strengthening risk mitigation,
risiko, koordinasi lintas fungsi, serta kesiapan cross-functional coordination, and readiness
ekosistem pendukung guna memastikan of the supporting ecosystem to ensure that the
implementasi program pembiayaan strategis implementation of strategic financing programs
berjalan secara efektif, akuntabel, dan selaras runs effectively, accountably, and in line with the
dengan mandat pembangunan Perseroan. Company’s development mandate.
2. Pemantauan Efektivitas Manajemen Risiko dan Sistem 2. Monitoring the Effectiveness of Risk Management and
Pengendalian Internal Internal Control Systems
a. Komite Audit melaksanakan pengawasan a. The Audit Committee carried out oversight of
terhadap efektivitas penerapan manajemen risiko the effectiveness of the implementation of the
dan sistem pengendalian internal Perseroan. Company’s risk management and internal control
systems.
b. Komite Audit melakukan pembahasan dengan b. The Audit Committee conducted discussions with
unit kerja terkait mengenai risiko-risiko utama relevant work units regarding key risks faced by the
yang dihadapi Perseroan serta langkah-langkah Company and mitigation measures undertaken 533
mitigasi yang dilakukan oleh manajemen. by management.
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05 Tata Kelola Perusahaan
Good Corporate Governance
c. Komite Audit memberikan perhatian terhadap c. The Audit Committee paid attention to
penguatan kerangka manajemen risiko strengthening the integrated risk management
terintegrasi serta peningkatan koordinasi lintas framework and improving cross-functional
fungsi dalam pengelolaan risiko. coordination in risk management.
d. Komite Audit mendorong pengembangan sistem d. The Audit Committee encouraged the
yang mendukung pemantauan risiko secara lebih development of systems that support more
efektif dan terintegrasi. effective and integrated risk monitoring.
e. Komite Audit mendorong peningkatan e. The Audit Committee encouraged improvements
kualitas analisis risiko sektoral, penguatan in the quality of sectoral risk analysis, strengthening
sistem pemantauan kualitas debitur, serta of debtor quality monitoring systems, and the
pengembangan sistem peringatan dini (early development of early warning systems.
warning system).
f. Dalam rangka memperkuat pengendalian f. In strengthening the Company’s internal
internal Perseroan, Komite Audit memantau control, the Audit Committee monitored the
pelaksanaan berbagai inisiatif strategis, implementation of various strategic initiatives,
termasuk pengembangan kerangka kerja Internal including the development of the Internal Control
Control over Financial Reporting (ICoFR) dan over Financial Reporting (ICoFR) framework, and
memberikan perhatian terhadap kejelasan tata paid attention to the clarity of governance in
kelola implementasi inisiatif tersebut, penguatan implementing these initiatives, strengthening the
peran unit kerja terkait, serta kesiapan sistem dan role of relevant work units, and the readiness of
infrastruktur teknologi informasi yang mendukung information technology systems and infrastructure
penerapan pengendalian internal secara efektif to support effective and integrated internal control
dan terintegrasi. implementation.
3. Pengawasan atas Pelaksanaan Fungsi Audit Internal 3. Supervision of the Internal Audit Function
a. Komite Audit melakukan pengawasan terhadap a. The Audit Committee carried out supervision of
pelaksanaan fungsi audit internal serta menilai the implementation of the internal audit function
kecukupan sumber daya, metodologi, dan ruang and assessed the adequacy of resources,
lingkup kerja unit audit internal. methodology, and scope of work of the internal
b. Komite Audit melakukan 12 (dua belas) kali audit unit.
pertemuan dengan Divisi Audit Internal (DAI) untuk b. The Audit Committee held 12 (twelve) meetings
melakukan pengawasan terhadap pelaksanaan with the Internal Audit Division to oversee the
fungsi audit internal, termasuk pembahasan implementation of the internal audit function,
Rencana Kerja Pemeriksaan Tahunan (RKPT), including discussions on the Annual Audit Plan,
evaluasi metodologi audit berbasis risiko, serta evaluation of risk-based audit methodologies, and
pemantauan pelaksanaan dan hasil kegiatan monitoring of the implementation and results of
audit internal. internal audit activities.
c. Komite Audit juga memberikan perhatian terhadap c. The Audit Committee also paid attention to
penguatan kapasitas dan kompetensi auditor strengthening the capacity and competence
internal serta mendorong penerapan pendekatan of internal auditors and encouraged the
audit yang lebih adaptif dan berbasis risiko. application of more adaptive and risk-based
d. Dalam rangka meningkatkan efektivitas dan audit approaches.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
efisiensi proses audit, Komite Audit mendorong d. To improve the effectiveness and efficiency of the
pemanfaatan teknologi serta metode audit yang audit process, the Audit Committee encouraged
lebih modern sehingga kegiatan audit dapat the use of technology and more modern audit
memberikan nilai tambah bagi peningkatan methods so that audit activities can provide added
kualitas tata kelola dan manajemen risiko value in improving the quality of the Company’s
Perseroan. governance and risk management.
4. Pengawasan atas Pelaksanaan Fungsi Audit Eksternal 4. Supervision of the External Audit Function
a. Komite Audit melakukan evaluasi terhadap kinerja a. The Audit Committee conducted an evaluation
auditor eksternal, termasuk aspek independensi, of the performance of external auditors, including
objektivitas, dan ruang lingkup pemeriksaan. aspects of independence, objectivity, and audit
b. Komite Audit melakukan penelaahan terhadap scope.
pelaksanaan audit laporan keuangan oleh Kantor b. The Audit Committee reviewed the implementation
Akuntan Publik, termasuk pembahasan hasil audit of financial statement audits by Public Accounting
tahun buku 2024 oleh Kantor Akuntan Publik Firms, including discussions on the results of the
Grant Thornton, pemantauan tindak lanjut atas 2024 fiscal year audit by Grant Thornton, monitoring
rekomendasi serta penunjukan, pembahasan follow-up actions on recommendations, as well as
rencana dan ruang lingkup audit laporan the appointment, discussion of plans, and scope
keuangan tahun buku 2025 oleh Kantor Akuntan of the 2025 fiscal year audit by Amir Abadi Jusuf
Publik Amir Abadi Jusuf Aryanto Mawar dan Rekan Aryanto Mawar and Rekan (RSM Indonesia).
534 (RSM Indonesia).
Page 265
c. Komite Audit menekankan pentingnya koordinasi The Audit Committee emphasized the importance
yang efektif antara auditor eksternal, manajemen of effective coordination between external auditors,
Perseroan, dan pihak terkait lainnya guna Company management, and other related parties to
memastikan kelancaran proses audit serta ensure a smooth audit process and maintain the quality
menjaga kualitas dan independensi pemeriksaan. and independence of the audit.
5. Penguatan Tata Kelola, Kepatuhan, dan Infrastruktur 5. Strengthening Governance, Compliance, and
Teknologi Informasi Information Technology Infrastructure
a. Dalam rangka mendukung penguatan tata a. To support the strengthening of corporate
kelola perusahaan dan memantau kepatuhan governance and monitor the Company’s
Perseroan terhadap peraturan perundang- compliance with laws and regulations, provisions
undangan, ketentuan OJK, serta kebijakan of the Financial Services Authority, and internal
internal Perusahaan, Komite Audit melakukan Company policies, the Audit Committee conducted
pembahasan tematik dengan berbagai fungsi thematic discussions with various supporting
pendukung di lingkungan Perseroan, yaitu Divisi functions within the Company, including the
Kepatuhan, Divisi Manajemen Risiko Terintegrasi, Compliance Division, Integrated Risk Management
Divisi Teknologi Informasi, Divisi Sumber Daya Division, Information Technology Division, Human
Manusia, serta unit kerja terkait lainnya. Capital Division, and other related work units.
b. Komite Audit mendorong peningkatan efektivitas b. The Audit Committee encouraged improvements
fungsi kepatuhan, penguatan koordinasi dalam in the effectiveness of the compliance function,
pengelolaan risiko operasional dan kepatuhan, strengthening coordination in managing
serta penyempurnaan kebijakan dan prosedur operational and compliance risks, and refining
internal yang mendukung penerapan tata kelola internal policies and procedures that support the
perusahaan yang baik. implementation of good corporate governance.
c. Komite Audit juga memberikan perhatian terhadap c. The Audit Committee also paid attention to
penguatan tata kelola teknologi informasi dan strengthening information technology governance
transformasi digital Perseroan, menekankan and the Company’s digital transformation,
pentingnya pengembangan roadmap teknologi emphasizing the importance of developing an IT
informasi yang selaras dengan strategi bisnis roadmap aligned with the Company’s business
Perseroan, penguatan keamanan sistem informasi, strategy, strengthening information system
perlindungan data, peningkatan ketahanan sistem security, data protection, enhancing system
terhadap risiko keamanan siber, mendorong resilience against cybersecurity risks, improving the
peningkatan kapasitas sumber daya manusia capacity of capital in the IT field, and strengthening
di bidang teknologi informasi serta penguatan system access controls to support effective and
pengendalian akses sistem guna mendukung secure management of the Company’s digital
pengelolaan infrastruktur digital Perseroan secara infrastructure.
efektif dan aman.
Komite Audit berkomitmen untuk terus mendukung The Audit Committee remains committed to continuously
Dewan Komisaris dalam menjalankan fungsi pengawasan supporting the Board of Commissioners in carrying out
secara efektif yaitu: its supervisory function effectively by:
1. Komite Audit memastikan bahwa pengelolaan 1. Ensuring that the Company’s management is PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Perseroan dilakukan dengan memperhatikan prinsip- conducted in accordance with good corporate
prinsip tata kelola perusahaan yang baik. governance principles;
2. Sebagai bentuk akuntabilitas dan transparansi, 2. As a form of accountability and transparency,
Komite Audit secara berkala menyampaikan laporan regularly submitting reports on the implementation
hasil pelaksanaan tugasnya kepada Dewan Komisaris. of its duties to the Board of Commissioners;
3. Dengan komitmen yang berkelanjutan, Komite 3. Continuously encouraging improvements in
Audit mendorong peningkatan kualitas tata governance quality, risk management, compliance,
kelola, manajemen risiko, kepatuhan, serta sistem and internal control systems; and
pengendalian internal.
4. Upaya tersebut diharapkan dapat mendukung 4. Supporting the sustainability of the Company’s
keberlanjutan kinerja Perseroan serta pencapaian performance and the achievement of long-term
tujuan strategis dalam jangka panjang, sekaligus strategic objectives, while maintaining the trust of
menjaga kepercayaan pemegang saham, pemangku shareholders, stakeholders, and regulators in sound
kepentingan, dan regulator terhadap tata kelola and sustainable corporate governance.
perusahaan yang sehat dan berkelanjutan.
535
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05 Tata Kelola Perusahaan
Good Corporate Governance
KOMITE NOMINASI DAN NOMINATION AND
REMUNERASI REMUNERATION COMMITTEE
The Nomination and Remuneration Committee was
Komite Nominasi dan Remunerasi (KNR) dibentuk sebagai established as a supporting organ to the Board of
organ pendukung Dewan Komisaris untuk memastikan Commissioners to ensure that the nomination and
proses nominasi dan penetapan remunerasi berjalan remuneration processes are conducted transparently,
secara transparan, objektif, serta mengacu pada objectively, and in accordance with sound human capital
prinsip manajemen SDM dan tata kelola perusahaan. management and corporate governance principles.
KNR menjalankan peran penting dalam menelaah The Nomination and Remuneration Committee plays
dan merekomendasikan kebijakan serta prosedur an important role in reviewing and recommending
nominasi dan remunerasi bagi anggota Dewan nomination and remuneration policies and procedures
Komisaris, Dewan Pengawas Syariah, dan Direksi dengan for members of the Board of Commissioners, the Sharia
mempertimbangkan prinsip kehati-hatian, transparansi, Supervisory Board, and the Board of Directors, taking
kewajaran, serta keadilan. into account the principles of prudence, transparency,
fairness, and equity.
Adapun pembentukan KNR PT SMI dimaksudkan untuk The establishment of the Nomination and Remuneration
menjamin bahwa struktur kepengurusan Perseroan, baik Committee aims to ensure that the Company’s
pada fungsi pengawasan maupun fungsi pengelolaan management, whether in supervisory or managerial
diisi oleh individu yang kompeten, berintegritas, dan functions, comprises qualified and competent individuals
mampu memberikan kinerja optimal sesuai arah capable of achieving performance targets aligned with
strategis dan sasaran perusahaan. Komite ini dibentuk the Company's plans, objectives, vision, and mission.
berdasarkan Surat Keputusan Dewan Komisaris No. The committee was established based on the Decree
SK-06/SMI/DK/0820 tanggal 5 Agustus 2020 tentang of the Board of Commissioners No. SK-06/SMI/DK/0820
Pembentukan dan Pengangkatan Komite Nominasi dan dated August 5, 2020, concerning the Establishment
Remunerasi PT SMI (Persero). and Appointment of the Nomination and Remuneration
Committee of PT SMI (Persero).
Pembentukan Komite Nominasi dan Remunerasi dilandasi The establishment of the Nomination and Remuneration
beberapa ketentuan hukum, antara lain: Committee is based on several legal provisions, including:
1. POJK No. 33/POJK.04/2014 tanggal 8 Desember 2014 1. Regulation of the Financial Services Authority (POJK)
tentang Direksi dan Dewan Komisaris Emiten atau No. 33/POJK.04/2014 dated December 8, 2014,
Perusahaan Publik; concerning the Board of Directors and Board of
Commissioners of Issuers or Public Companies;
2. POJK No. 34/POJK.04/2014 tanggal 8 Desember 2014 2. Regulation of the Financial Services Authority
tentang Komite Nominasi dan Remunerasi Emiten (POJK) No. 34/POJK.04/2014 dated December 8,
atau Perusahaan Publik; dan 2014, concerning the Nomination and Remuneration
Committee of Issuers or Public Companies; and
3. Peraturan Menteri Keuangan No. 88/PMK.06/2015 3. Regulation of the Ministry of Finance No. 88/
tanggal 28 April 2015 tentang Penerapan Tata Kelola PMK.06/2015 dated April 28, 2015, concerning the
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Perusahaan yang Baik pada Perusahaan Perseroan Implementation of Good Corporate Governance
(Persero) di bawah Pembinaan dan Pengawasan in Limited Liability Companies (Persero) under the
Menteri Keuangan. Guidance and Supervision of the Minister of Finance.
Piagam Komite Nominasi dan Remunerasi Nomination and Remuneration Committee
Komite Nominasi dan Remunerasi telah menetapkan Charter
Piagam Komite yang pertama kali disahkan pada The Nomination and Remuneration Committee has an
5 November 2020 dan terakhir diperbarui pada 3 Juni established Committee Charter, which was approved
2025. Dokumen ini memuat ketetapan mengenai visi, misi, on November 5, 2020, and recently updated on June
tugas dan tanggung jawab, wewenang, keanggotaan, 3, 2025. The charter outlines provisions regarding the
rapat dan pelaporan, pedoman nominasi, sistem vision, mission, duties and responsibilities, authority,
remunerasi, serta pengawasan pengelolaan sumber membership, meetings and reporting, nomination
daya manusia. guidelines, remuneration systems, and supervision of
human capital management.
Pedoman tersebut dievaluasi dan disempurnakan secara The work guidelines are reviewed and updated periodically
berkala agar senantiasa relevan dengan dinamika to ensure alignment with current business conditions and
bisnis serta sejalan dengan ketentuan regulasi yang applicable regulations. The Nomination and Remuneration
berlaku. Piagam KNR juga telah dipublikasikan melalui Committee Charter has been published and is accessible
536 situs web Perseroan sebagai wujud transparansi kepada to the public on the Company's website.
pemangku kepentingan.
Page 267
Komposisi dan Profil Komite Nominasi dan Composition and Profile of the Nomination
Remunerasi and Remuneration Committee
KNR berada di bawah koordinasi dan bertanggung The Nomination and Remuneration Committee is
jawab langsung kepada Dewan Komisaris. Penetapan under coordination and reports directly to the Board of
komposisinya mengikuti ketentuan POJK No. 34/ Commissioners. Its composition adheres to Regulation
POJK.04/2014 yang mensyaratkan bahwa Komite of the Financial Services Authority No. 34/POJK.04/2014,
Nominasi dan Remunerasi sedikitnya terdiri dari 3 (tiga) which stipulates that the Nomination and Remuneration
orang, terdiri dari 1 (satu) orang anggota Komisaris Committee must consist of at least 3 (three) members,
Independen sebagai ketua, 2 (dua) orang anggota including 1 (one) Independent Commissioner as Head,
Komisaris sebagai anggota, dan/atau 1 (satu)orang dari 2 (two) Commissioners as members, and/or 1 (one)
luar Perseroan atau 1 (satu) orang pejabat Perseroan di individual external to the Company or 1 (one) Company
bawah Direksi yang membawahi bidang sumber daya official under the Board of Directors responsible for human
manusia sebagai anggota. capital management as a member.
Pada tahun 2025, susunan dan komposisi Komite In 2025, the structure and composition of the Company’s
Nominasi dan Remunerasi Perseroan terdiri 3 (tiga) orang, Nomination and Remuneration Committee consisted of
yaitu 1 (satu) orang ketua dan 2 (dua) orang anggota, 3 (three) members, comprising 1 (one) Head and 2 (two)
dengan salah satu anggota merangkap peran sebagai members, with one of the members concurrently serving
Sekretaris Komite. Adapun susunan KNR Perseroan per as Secretary of the Committee. The composition of the
31 Desember 2025 adalah sebagai berikut: Company’s Nomination and Remuneration Committee
as of December 31, 2025, is as follows:
Nama Jabatan di Komite Periode Jabatan Jabatan di Perseroan
Name Position in the Committee Term of Office Position in the Company
Ketua Komite Nominasi dan
Remunerasi 15 Agustus 2024 – 5 Juli 2029 Komisaris Independen
Arief Wibisono Lubis
Head of the Nomination and August 15, 2024 – July 5, 2029 Independent Commissioner
Remuneration Committee
Anggota Komite Nominasi dan
Remunerasi 15 Agustus 2024 – 7 Mei 2025 Komisaris
Suryo Utomo*
Member of the Nomination and August 15, 2024 – May 7, 2025 Commissioner
Remuneration Committee
Anggota Komite Nominasi dan
Remunerasi 7 Mei 2025 – 5 Juli 2029 Komisaris
Askolani
Member of the Nomination and May 7, 2025 – July 5, 2029 Commissioner
Remuneration Committee
Anggota & Sekretaris Komite
Kepala Divisi Sumber Daya
Nominasi dan Remunerasi
15 Agustus 2024 – 5 Juli 2029 Manusia
Franciscus Hasiholan Tamba Member & Secretary of the
August 15, 2024 – July 5, 2029 Head of Human Capital
Nomination and Remuneration
Division
Committee
*menjabat sampai dengan 7 Mei 2025
*served until May 7, 2025
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Arief Wibisono Lubis
Ketua Komite Nominasi dan Remunerasi
Head of the Nomination and Remuneration Committee
Beliau ditunjuk sebagai Ketua Komite Nominasi dan Remunerasi berdasarkan Surat Keputusan Dewan Komisaris No. SK-03/SMI/
DK/0824 tanggal 15 Agustus 2024 tentang Pemberhentian dan Pengangkatan Ketua Komite Nominasi dan Remunerasi PT Sarana Multi
Infrastruktur (Persero). Profil Beliau dapat dilihat pada Bab Profil Perusahaan dalam Laporan Tahunan ini.
He was appointed as Head of the Nomination and Remuneration Committee based on the Decree of the Board of Commissioners
No. SK-03/SMI/DK/0824 dated August 15, 2024, concerning the Dismissal and Appointment of the Head of the Nomination and
Remuneration Committee of PT Sarana Multi Infrastruktur (Persero). His profile can be found in the Company Profile chapter of this
Annual Report.
Askolani
Anggota Komite Nominasi dan Remunerasi
Member of the Nomination and Remuneration Committee
Beliau ditunjuk sebagai anggota Komite Nominasi dan Remunerasi berdasarkan Surat Keputusan Dewan Komisaris No. SK-01/SMI/
DK/0525 tanggal 28 Mei 2025 tentang Pemberhentian dan Pengangkatan Anggota Komite Nominasi dan Remunerasi PT Sarana Multi
Infrastruktur (Persero). Profil Beliau dapat dilihat pada Bab Profil Perusahaan dalam Laporan Tahunan ini.
He was appointed as a member of the Nomination and Remuneration Committee based on the Decree of the Board of Commissioners
No. SK-01/SMI/DK/0525 dated May 28, 2025, concerning the Dismissal and Appointment of Members of the Nomination and
Remuneration Committee of PT Sarana Multi Infrastruktur (Persero). His profile can be found in the Company Profile chapter of this
Annual Report. 537
Page 268
05 Tata Kelola Perusahaan
Good Corporate Governance
Franciscus Hasiholan Tamba
Anggota dan Sekretaris Komite Nominasi dan Remunerasi
Member and Secretary of the Nomination and Remuneration Committee
55 tahun | 55 years old
Indonesia
DKI Jakarta, Indonesia | Special Capital Region of Jakarta, Indonesia
Surat Keputusan Dewan Komisaris No. SK-03/SMI/DK/0824 tanggal 15 Agustus 2024 tentang
Pemberhentian dan Pengangkatan Ketua Komite Nominasi dan Remunerasi PT Sarana Multi
Dasar Hukum Pengangkatan Infrastruktur (Persero).
Legal Basis of Appointment Decree of the Board of Commissioners No. SK-03/SMI/DK/0824 dated August 15,
2024, concerning the Dismissal and Appointment of the Head of the Nomination and
Remuneration Committee of PT Sarana Multi Infrastruktur (Persero).
• S2 Finance & Investment - Universitas Katolik Atmajaya
Riwayat Pendidikan • S1 Computer Science - Institut Teknologi Bandung
Educational Background • Master’s Degree in Finance & Investment – Atma Jaya Catholic University
• Bachelor’s Degree in Computer Science – Bandung Institute of Technology (ITB)
• Built a Future Team HR Conference
• Perpajakan (PPH dan Coretax System)
• Certified Human capitals Professional
• Human capitals Training
• Risk Awareness Training
• Private Equity Training
• Gartner Reimagine HR Conference
• Pelatihan Undang-Undang UUCK UU No.6
• Leadership Training
• TNA & Development Program Training
• E-Learning & Management Training
• Sertifikasi Manajemen Risiko BSMR
Sertifikasi • Individual Development Plan Training
Certification • Built a Future Team HR Conference
• Taxation (Income Tax and Coretax System)
• Certified Human capitals Professional
• Human capitals Training
• Risk Awareness Training
• Private Equity Training
• Gartner Reimagine HR Conference
• Training on Job Creation Law (UUCK Law No. 6)
• Leadership Training
• TNA & Development Program Training
• E-Learning & Management Training
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• BSMR Risk Management Certification
• Individual Development Plan Training
• Kepala Divisi Sumber Daya Manusia PT SMI (Persero) (1 Februari 2025 – sekarang)
• Plt. Kepala Divisi Sumber Daya Manusia PT SMI (Persero) (14 Agustus 2024 s.d. 31 Januari
2025)
• Team Leader Perencanaan & Inisiatif Strategis Divisi Sumber Daya Manusia PT SMI (Persero)
(16 Februari 2023 s.d. 31 Januari 2025)
• Staff Project Manager & Secondment Program Divisi Sumber Daya Manusia PT SMI (Persero)
(24 Februari 2020 s.d. 15 Februari 2023)
• Staf Divisi Pusat Pengelolaan Kompetensi PT SMI (Persero) (1 November 2018 s.d. 23 Februari
2020)
Riwayat Pekerjaan • Kepala Divisi Teknologi Informasi PT. Perusahaan Pengelola Aset (2008 - 31 Oktober 2018)
Career History • Head of Human Capital Division, PT SMI (Persero) (February 1, 2025 – Present)
• Acting Head of Human Capital Division, PT SMI (Persero) (August 14, 2024 – January 31, 2025)
• Team Leader, Planning & Strategic Initiatives, Human Capital Division, PT SMI (Persero)
(February 16, 2023 – January 31, 2025)
• Staff, Project Manager & Secondment Program, Human Capital Division, PT SMI (Persero)
(February 24, 2020 – February 15, 2023)
• Staff, Competency Management Center Division, PT SMI (Persero) (November 1, 2018 –
February 23, 2020)
• Head of Information Technology Division, PT Perusahaan Pengelola Aset (2008 – October 31,
2018)
538
Page 269
Tidak mempunyai rangkap jabatan baik sebagai anggota Dewan Komisaris, anggota Direksi,
Rangkap Jabatan dan/atau anggota komite serta jabatan lainnya di Perseroan.
Concurrent Position Has no concurrent positions, neither as a member of the Board of Commissioners nor a member
of the Board of Directors, and/or other committee members and other positions in the Company
Tidak memiliki hubungan afiliasi baik dengan anggota Direksi, anggota Dewan Komisaris
Hubungan Afiliasi lainnya maupun dengan pemegang saham pengendali dan utama.
Affiliation Has no affiliation with members of the Board of Directors, other members of the Board of
Commissioners or with the controlling and major shareholders.
Independensi Komite Nominasi dan Independence of the Nomination and
Remunerasi Remuneration Committee
Piagam KNR menetapkan ketentuan mengenai prinsip The Nomination and Remuneration Committee
independensi bagi setiap anggota komite. Seluruh Charter stipulates provisions regarding the principle of
anggota diwajibkan sekurang-kurangnya memiliki independence for each committee member. All members
integritas, objektivitas dan etika yang tinggi, mampu are required to demonstrate integrity, objectivity, and high
bersikap independen yaitu mampu melaksanakan ethical standards, and to act independently in carrying
tugas secara profesional, hati-hati, bebas dari benturan out their duties professionally and prudently, free from
kepentingan dan pengaruh/tekanan dari pihak manapun, conflicts of interest and undue influence or pressure
serta menaati peraturan perundang-undangan yang from any party, while complying with applicable laws
berlaku dan prinsip-prinsip korporasi yang sehat. and regulations as well as sound corporate governance
principles.
Sertifikasi Profesi Anggota Komite Professional Certifications of Members
Nominasi dan Remunerasi of the Nomination and Remuneration
Committee
PT SMI menempatkan peningkatan kapasitas sebagai PT SMI places capacity development as one of the key
salah satu prioritas utama dalam mendukung efektivitas priorities in supporting the effectiveness of the Nomination
peran Komite Nominasi dan Remunerasi. Seluruh anggota and Remuneration Committee’s role. All members
Komite Nominasi dan Remunerasi didorong untuk memiliki of the Nomination and Remuneration Committee
kompetensi teknis dan pemahaman yang memadai agar are encouraged to possess adequate technical
mampu menjalankan fungsi pengawasan secara optimal competencies and understanding in order to perform
serta responsif terhadap dinamika bisnis Perseroan. their oversight functions optimally and remain responsive
Adapun kualifikasi anggota komite dari sertifikasi yang to the Company’s business dynamics. The qualifications
dimiliki adalah sebagai berikut: of the committee members based on the certifications
they hold are as follows:
Jabatan di
Nama Komite Sertifikasi yang dimiliki Tahun
Name Position in the Certifications Year
Committee
Sertifikasi Manajemen Risiko Perbankan Jenjang 4
2024
Banking Risk Management Certification Level 4
Sertifikasi Manajemen Risiko Perbankan Jenjang 5
2025
Banking Risk Management Certification Level 5
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Ketua Sertifikasi Manajemen Risiko Perbankan Jenjang 6
Arief Wibisono Lubis 2025
Head Banking Risk Management Certification Level 6
Sertifikasi Manajemen Risiko Perbankan Jenjang 7
2025
Banking Risk Management Certification Level 7
Certified in Risk Governance Professional (CRGP) 2024
Anggota Komite Certified Governance Oversight Professional (CGOP) 2024
Nominasi dan
Remunerasi
Manajemen Risiko Perbankan Tingkat I Regular – Setara
Askolani Member of the
Kualifikasi IV KKNI
Nomination and 2022
Banking Risk Management Level I Regular – Equivalent to
Remuneration
Indonesian National Qualification Framework Level IV
Committee
Sekretaris Komite Kualifikasi 7 Manajemen Risiko Perbankan
Nominasi dan 2025
Banking Risk Management Qualification 7
Remunerasi
Franciscus Hasiholan
Secretary of the
Tamba
Nomination and Perbankan
Remuneration 2025
Banking
Committee 539
Certification in Audit Committee Practices (CACP)
Page 270
05 Tata Kelola Perusahaan
Good Corporate Governance
Program Pengembangan Kompetensi Competency Development Program of the
Komite Nominasi dan Remunerasi Nomination and Remuneration Committee
Selama tahun 2025, Perseroan melaksanakan program Throughout 2025, the Company implemented capacity
pengembangan kompetensi bagi Komite Nominasi development programs for the Nomination and
dan Remunerasi. Namun demikian, anggota komite Remuneration Committee. In addition, members of the
senantiasa melakukan program pengembangan Committee continuously participated in competency
kompetensi sesuai dengan bidang dan keahlian masing- development programs in accordance with their
masing. Daftar kegiatan pelatihan dan peningkatan respective fields and areas of expertise. The list of training
kompetensi yang diikuti Komite Nominasi dan Remunerasi and competency development activities attended by the
di sepanjang tahun 2025 adalah sebagai berikut: Audit Committee during 2025 is as follows:
Jenis Pendidikan dan Materi Pendidikan dan
Nama dan
Pelatihan Pelatihan Tempat/Tanggal Penyelenggara
Jabatan No Type of Education and Education and Training Date/Venue Organizer
Name and Position Training Materials
Arief Wibisono Lubis Telah disampaikan pada sub judul Pengembangan Kompetensi Dewan Komisaris di Bab Tata Kelola
Perusahaan pada Laporan tahunan ini.
Askolani As presented under the sub-section “Competency Development of the Board of Commissioners” in the
Corporate Governance chapter of this Annual Report.
13/01/2025 -
1 Inhouse Training General Business English 20/03/2025 / English Today
Jakarta
Unlocking ESG Values: 10/03/2025 -
2 Public Training ADFIAP
Strategies for Human capitals 13/03/2025 / Filipina
Pemanfaatan Artificial
Intelligence dalam Industri
09/04/2025 - Kementerian
Keuangan dan Infrastruktur
3 Knowledge Sharing 09/04/2025 / Keuangan
Utilization of Artificial
Kantor SMI Ministry of Finance
Intelligence in the Financial
and Infrastructure Industry
28/05/2025 -
Banking Knowledge Series: SMI Eksternal
4 Knowledge Sharing 28/05/2025 /
Loan Syndication External SMI
Hybrid
Knowledge Sharing: Unlocking 03/07/2025 -
SMI Internal
5 Knowledge Sharing ESG Values Strategies for 03/07/2025 /
Internal SMI
Human capitals Jakarta
Workshop on the Introduction
and Lessons Learned on the 18/08/2025 -
SMI Internal
6 Knowledge Sharing implementation of Taskforce 18/08/2025 /
Internal SMI
on Nature-related Financial Jakarta
Franciscus Hasiholan Disclosures (TNFD)
Tamba
Masa Persiapan Purnabakti
POTENSI (PT.
(MPP) Stage 3 Batch 1 21/08/2025 -
7 Inhouse Training Eventama Solusi
Pre-Retirement Preparation 23/08/2025 / Bogor
Kreatif)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Period Stage 3 Batch 1
Leading Successful Programs: 03/10/2025 -
SMI Internal
8 Knowledge Sharing Using Evidence to Assess 03/10/2025 /
Internal SMI
Effectiveness Jakarta
Workshop Risk Maturity Index 06/10/2025 -
9 Inhouse Training PwC
(RMI) 07/10/2025 / Bogor
Optimalisasi Pelaporan Pajak Direktorat Jenderal
14/10/2025 -
dengan CORETAX Pajak
10 Inhouse Training 15/10/2025 /
Optimization of Tax Reporting Directorate General
Bandung
with CORETAX of Tax
Literasi Keuangan Digital:
Bahaya dan Dampak
30/10/2025 -
Pinjaman Online Ilegal
11 Knowledge Sharing 30/10/2025 / Rista Zwestika
Digital Financial Literacy: Risks
Jakarta
and Impacts of Illegal Online
Loans
17/11/2025 -
12 Public Training Gartner HR Symposium/Xpo Gartner
18/11/2025 / Sydney
540
Page 271
Jenis Pendidikan dan Materi Pendidikan dan
Nama dan
Pelatihan Pelatihan Tempat/Tanggal Penyelenggara
Jabatan No Type of Education and Education and Training Date/Venue Organizer
Name and Position Training Materials
Forging Resiliency Through 27/11/2025 - PT. Tiga Fokus
13 Inhouse Training
Togetherness in Diversity (DU) 27/11/2025 / Bali Utama
Workshop Knowledge Update
23/12/2025 -
Hubungan Industrial
14 Inhouse Training 24/12/2025 / OPZ & Rekan
Industrial Relations Knowledge
Bandung
Update Workshop
Pelaksanaan Rapat Komite Nominasi dan Implementation of the Nomination and
Remunerasi Remuneration Committee Meetings
Pelaksanaan rapat Komite Nominasi dan Remunerasi Meetings of the Nomination and Remuneration
diselenggarakan secara berkala maupun sesuai Committee are conducted periodically or as required,
kebutuhan, dengan frekuensi paling kurang 1 (satu) with a frequency of at least once every 4 (four) months
kali dalam 4 (empat) bulan sebagaimana diatur as stipulated in the Nomination and Remuneration
dalam Piagam Komite Nominasi dan Remunerasi serta Committee Charter and Regulation of the Financial
POJK No. 34/POJK.04/2014. Rapat dapat dilaksanakan Services Authority No. 34/POJK.04/2014. Meetings may
apabila memenuhi ketentuan kuorum, yaitu dihadiri be convened provided that the quorum requirement is
oleh mayoritas anggota komite, termasuk ketua komite. met, namely attendance by the majority of committee
members, including Head of the Committee.
Sampai dengan 31 Desember 2025, Komite Nominasi As of December 31, 2025, the Nomination and
dan Remunerasi telah mengadakan 13 (tiga) kali rapat. Remuneration Committee held 13 (thirteen) meetings.
Rangkaian agenda rapat serta tingkat kehadiran masing- The meeting agenda and the attendance level of each
masing anggota komite disajikan sebagai berikut: committee member are presented as follows:
Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No Meeting Agenda
Date of
Meeting AWL SU* FHT AS**
Pembahasan Terkait Masukan BPKP terhadap Komite Nominasi dan
Remunerasi dan Proses Pengelolaan Sumber Daya Manusia serta
25 Maret 2025 Pengkinian Piagam KNR.
1. V V V -
March 25, 2025 Discussion on BPKP inputs regarding the Nomination and Remuneration
Committee and the human capital management process, including
the update of the Nomination and Remuneration Committee Charter.
Pembahasan Terkait Usulan Remunerasi dan Tantiem BOD - BOC PT
Sarana Multi Infrastruktur (Persero).
10 April 2025
2. Discussion on the proposed remuneration and tantiem for the Board of V V V -
April 10, 2025
Directors and Board of Commissioners of PT Sarana Multi Infrastruktur
(Persero).
Pembahasan Usulan Pemberian Tantiem Tahun Buku 2024 dan
Penyesuaian Gaji Pokok/Honorarium Tahun Buku 2025 untuk Pengurus
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
22 April 2025 Perseroan.
3. V V V -
April 22, 2025 Discussion on the proposed tantiem for the 2024 fiscal year and
adjustments to basic salary/honorarium for the 2025 fiscal year for the
Company’s management.
Pembahasan terkait:
1. Mapping Kecukupan Talent di Masing-Masing Divisi.
2. Update Penyesuaian Struktur Organisasi.
3. Update Revisi Piagam KNR.
4. Pembahasan Calon Anggota Komite Audit dan Komite Pemantau
Risiko.
20 Mei 2025
4. Discussion on: V - V V
May 25, 2025
1. Mapping of talent adequacy across each division.
2. Update on adjustments to the organizational structure.
3. Update on revisions to the Nomination and Remuneration
Committee Charter.
4. Discussion on candidates for members of the Audit Committee and
the Risk Monitoring Committee.
Pembahasan Calon Anggota Komite Audit & Komite Pemantau Risiko.
27 Mei 2025
5. Discussion on candidates for members of the Audit Committee and the V - V V
May 27, 2025
Risk Monitoring Committee.
541
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tanggal Kehadiran
Rapat Agenda Rapat Attendance
No Meeting Agenda
Date of
Meeting AWL SU* FHT AS**
Pembahasan terkait:
1. Permintaan Persetujuan Pemberhentian Karyawan PT SMI di Anak
Perusahaan sebagai Direktur Utama dan Direktur Keuangan PT
Cimanggis Cibitung Tollways, Serta Penunjukkan dan Penempatan
Perwakilan Karyawan PT SMI Sebagai Direktur Utama dan Direktur
Keuangan PT Cimanggis Cibitung Tollways.
2. Pemberitahuan Pelaksanaan Pengembangan Karir Karyawan
dalam Bentuk Promosi dan Mutasi Jabatan Satu Level di bawah
Direksi atau Kepala Divisi di Lingkungan PT SMI Semester 1 Tahun
23 Juni 2025 2025.
6. V - V V
June 23, 2025 Discussion on:
1. Request for approval of the resignation of PT SMI employees serving
as President Director and Director of Finance of PT Cimanggis
Cibitung Tollways, and the appointment and placement of PT SMI
employee representatives as President Director and Director of
Finance of PT Cimanggis Cibitung Tollways.
2. Notification of employee career development implementation in
the form of promotions and job rotations at one level below the
Board of Directors or Heads of Division within PT SMI for Semester 1
2025.
Pembahasan Persetujuan Pemberhentian Perwakilan Karyawan
PT SMI di PT Cimanggis Cibitung Tollways serta Pengangkatan dan
Penunjukan Perwakilan Karyawan PT SMI di PT Cimanggis Cibitung
24 Juni 2025 Tollways.
7. V - V V
June 24, 2025 Discussion on the approval of the resignation of PT SMI employee
representatives at PT Cimanggis Cibitung Tollways and the
appointment and designation of PT SMI employee representatives at PT
Cimanggis Cibitung Tollways.
Pembahasan Usulan Pengangkatan Direksi PT Trans Jabar Tol.
14 Juli 2025
8. Discussion on the proposed appointment of the Board of Directors of PT V - V V
July 14, 2025
Trans Jabar Tol.
Pembahasan Usulan Talent Pool ke DJKN.
30 Juli 2025
9. Discussion on the proposed talent pool submission to Directorate V - V V
July 30, 2025
General of State Assets (DJKN).
Usulan Penyesuaian Honorarium bagi Organ Tahun 2025 dan
23 September Pemberian Apresiasi bagi DPS dan Sesdekom Tahun Buku 2024.
2025 Proposal for adjustments to honorarium for the Company’s governing
10 V - V V
September 23, organs in 2025 and the provision of appreciation to the Sharia
2025 Supervisory Board and the Secretary to the Board of Commissioners for
the 2024 fiscal year.
27 Oktober 2025 Pembahasan RKAP Tahun 2026 Aspek SDM.
11. October 27, Discussion on the Company’s 2026 Work Plan and Budget for Human V - V V
2025 Capital Aspect
1. Pembahasan Regenerasi Kepala Divisi yang Segera Memasuki Usia
26 November Pensiun.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
2025 2. Pengadaan Top Executive Salary Survey.
12. V - V V
November 26, 1. Succession planning for Heads of Division approaching retirement
2025 age.
2. Procurement of a Top Executive Salary Survey.
Pembahasan terkait hasil Employee Engagement Survey Periode Tahun
29 Desember 2024 - 2025 serta Usulan Rencana Pelatihan (Training Need Analysis)
2025 Dewan Komisaris Periode Tahun 2026.
13. V - V V
December 29, Discussion on the results of the 2024–2025 Employee Engagement
2025 Survey and the proposed Training Need Analysis (TNA) plan for the
Board of Commissioners for the 2026 period.
Jumlah Kehadiran
13 3 13 10
Total Attendance
Persentase Kehadiran
100% 100% 100% 100%
Percentage of Attendance
Keterangan: Notes:
V : Hadir V : Present
V* : Hadir dengan Surat Kuasa V* : Present by Proxy
X : Tidak Hadir X : Absent
AWL : Arief Wibisono Lubis AWL : Arief Wibisono Lubis
SU* : Suryo Utomo – Berhenti menjabat per 7 Mei 2025 SU* : Suryo Utomo – No longer served since May 7, 2025
FHT : Franciscus Hasiholan Tamba FHT : Franciscus Hasiholan Tamba
AS** : Askolani – Mulai menjabat per 7 Mei 2025 AS** : Askolani – Served since May 7, 2025
542
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Tugas dan Tanggung Jawab Komite Duties and Responsibilities of the
Nominasi dan Remunerasi Nomination and Remuneration Committee
Tugas dan tanggung jawab KNR telah diatur dalam The duties and responsibilities of the Nomination
Piagam Komite Nominasi dan Remunerasi, meliputi: and Remuneration Committee are stipulated in the
Nomination and Remuneration Committee Charter,
including:
1. Menyusun konsep dan analisis yang berhubungan 1. Prepare concepts and analyses related to the function
dengan fungsi Komite Nominasi dan Remunerasi of the Company’s Nomination and Remuneration
Perseroan; Committee;
2. Memberikan rekomendasi kepada Dewan Komisaris 2. Provide recommendations to the Board of Commissioners
terkait kebijakan, kriteria, dan kualifikasi yang related to policy, criteria and qualification required in
dibutuhkan dalam proses Nominasi yang sesuai the Nomination process according to the Company’s
dengan rencana strategis Perseroan dan kebijakan strategic plan and policy on performance evaluation
evaluasi kinerja bagi anggota Direksi dan/atau for members of the Board of Directors and/or the Board
anggota Dewan Komisaris; of Commissioners;
3. Menyusun dan memberikan rekomendasi mengenai 3. Prepare and provide recommendations on nomination
sistem serta prosedur pemilihan dan/atau system and procedure and/ or replacement of members
penggantian anggota Dewan Komisaris dan anggota of the Board of Commissioners and the Board of Directors
Direksi kepada Dewan Komisaris untuk disampaikan to the Board of Commissioners to be conveyed to the
kepada Rapat Umum Pemegang Saham (RUPS); General Meeting of Shareholder (GMS);
4. Memberikan rekomendasi kepada Dewan Komisaris 4. Provide recommendations to the Board of
terkait jumlah dan komposisi anggota Dewan Commissioners on the numbers and composition of the
Komisaris dan/atau anggota Direksi; Board of Commissioners and/or the Board of Directors;
5. Memberikan usulan calon yang memenuhi syarat 5. Provide proposed candidates who meet the
sebagai anggota Direksi dan/atau anggota requirements as members of the Board of Directors
Dewan Komisaris kepada Dewan Komisaris untuk and/or the Board of Commissioners to the Board of
disampaikan kepada RUPS dan/atau regulator; Commissioners to be conveyed to the GMS and/or
regulator;
6. Memberikan rekomendasi kepada Dewan Komisaris 6. Provide recommendations to the Board of
mengenai program pengembangan kemampuan Commissioners on competency development program
anggota Direksi dan/atau anggota Dewan Komisaris; for members of the Board of Directors and/or the Board
of Commissioners;
7. Membantu Dewan Komisaris melakukan penilaian 7. Assist the Board of Commissioners in conducting
kinerja anggota Direksi dan/atau anggota Dewan performance assessment of members of the Board
Komisaris berdasarkan tolak ukur yang telah disusun of Directors and/or Board of Commissioners based
sebagai bahan evaluasi; on pre-determined assessment indicators;
8. Membantu Dewan Komisaris memperoleh dan/atau 8. Assist the Board of Commissioners to obtain and/
menganalisa data bakal calon anggota Direksi dari or analyze information on candidates for members
talent pool pejabat satu tingkat di bawah Direksi; of the Board of Directors, from the talent pool of
management officers at one tier below the Board
of Directors; PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
9. Memiliki database dan talent pool calon anggota 9. Maintain database and talent pool of candidates for
Direksi dan calon anggota Dewan Komisaris; members of the Board of Directors and/or the Board
of Commissioners;
10. Melakukan evaluasi terhadap kebijakan remunerasi 10. Perform evaluation on remuneration policy
dan memberikan rekomendasi kepada Dewan and provide recommendations to the Board of
Komisaris mengenai: Commissioners regarding:
a. Kebijakan remunerasi, struktur remunerasi, a. Remuneration policy, structure and nominal for the
besaran atas remunerasi bagi Dewan Komisaris Board of Directors and the Board of Commissioners
dan Direksi untuk disampaikan kepada RUPS; to be submitted to the GMS;
b. Penilaian kinerja dengan kesesuaian remunerasi b. Performance assessment and its compatibility with
yang diterima masing-masing anggota Direksi remunerations set for every member of the Board
dan/atau anggota Dewan Komisaris. of Directors and/or the Board of Commissioners.
11. Ketua Komite bertugas dan bertanggung jawab 11. Head of the Committee is in charge of and responsible
dalam mengkoordinasikan pelaksanaan rapat Komite for coordinating Committee meetings and to propose
dan mengusulkan agenda serta materi rapat; meeting agendas and material;
12. Anggota Komite bertugas dan bertanggung jawab 12. The Committee members are in charge of and
dalam: responsible for:
a. Menyelenggarakan rapat secara teratur; a. Organize meetings regularly;
b. Mempelajari materi rapat terlebih dahulu; b. Learn meeting materials in advance; 543
c. Menghadiri rapat; c. Attend the meetings;
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05 Tata Kelola Perusahaan
Good Corporate Governance
d. Memberikan kontribusi dan berperan aktif; d. Contribute and play an active role in the meetings;
e. Membuat risalah rapat (sekretaris). e. Compose minutes of meeting (secretary); and
13. Membantu Dewan Komisaris melakukan pengawasan 13. Assist the Board of Commissioners in conducting
pengelolaan sumber daya manusia Perseroan sesuai supervision on the Company’s Human Capital
dengan kewenangannya. management according to their authority.
Di samping itu, Komite Nominasi dan Remunerasi In addition, the Nomination and Remuneration Committee
mempunyai wewenang sebagai berikut: has the following authorities:
1. Anggota Komite Nominasi dan Remunerasi baru 1. New members of the Nomination and Remuneration
menerima orientasi atau program pengenalan Committee receive an orientation or induction
mengenai peran, tanggung jawab dan kerangka program on the roles, responsibilities and framework
kerja Komite Nominasi dan Remunerasi Perseroan; of the Nomination and Remuneration Committee;
2. Berdasarkan surat penugasan tertulis dari Dewan 2. Based on a written assignment letter from the Board
Komisaris, Komite Nominasi dan Remunerasi dapat of Commissioners, the Nomination and Remuneration
meminta informasi yang diperlukan dari berbagai Committee may request the necessary information
pihak baik internal maupun eksternal Perseroan; from various parties both internal and external to
the Company;
3. Komite Nominasi dan Remunerasi Perseroan dengan 3. With the approval of the Board of Commissioners,
persetujuan Dewan Komisaris dapat melibatkan the Company's Nomination and Remuneration
tenaga ahli dan profesional lain yang independen Committee can involve independent experts and other
di luar Anggota Komite Nominasi dan Remunerasi professionals outside the members of the Company's
Perseroan yang diperlukan untuk membantu Nomination and Remuneration Committee as needed
pelaksanaan tugasnya (jika diperlukan) atas beban to assist in the execution of its duties, at the expense
Perseroan; of the Company;
4. Melakukan kewenangan lain yang diberikan oleh 4. Exercise other authorities granted by the Board of
Dewan Komisaris. Commissioners.
Pelaksanaan Kegiatan Komite Nominasi Implementation of Duties of the Nomination
dan Remunerasi di Tahun 2025 and Remuneration Committee in 2025
Sepanjang tahun 2025, Komite Nominasi dan Remunerasi Throughout 2025, the Nomination and Remuneration
telah menjalankan mandatnya melalui serangkaian Committee carried out its mandate through a series
kegiatan yang dirancang untuk memastikan proses of activities designed to ensure that nomination
nominasi dan remunerasi berjalan sesuai prinsip and remuneration processes were implemented in
tata kelola yang sehat. Pelaksanaan fungsi tersebut accordance with sound corporate governance principles.
mencakup berbagai aktivitas pembahasan, penelaahan, The execution of these functions included various
serta pemberian rekomendasi strategis kepada Dewan discussions, reviews, and the provision of strategic
Komisaris, antara lain sebagai berikut: recommendations to the Board of Commissioners,
including the following:
1. Membantu Dewan Komisaris atas pelaksanaan 1. Assisting the Board of Commissioners in overseeing
pengawasan dan pemberian arahan kepada Direksi and providing guidance to the Board of Directors
mengenai pengelolaan SDM. regarding human capital management.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
2. Melakukan review atas skema remunerasi yang ada 2. Reviewing the existing remuneration scheme for the
untuk Direksi dan Dewan Komisaris. Board of Directors and the Board of Commissioners.
3. Memberikan usulan kepada Dewan Komisaris atas 3. Submitting recommendations to the Board of
calon yang memenuhi syarat sebagai Anggota Commissioners on candidates who meet the
Direksi. qualifications for Members of the Board of Director
positions.
4. Membantu Dewan Komisaris melakukan penilaian 4. Assisting the Board of Commissioners in evaluating
kinerja anggota Direksi berdasarkan tolok ukur yang the performance of members of the Board of Directors
telah disusun. based on established benchmarks.
5. Membantu Dewan Komisaris atas pelaksanaan 5. Supporting the Board of Commissioners in monitoring
pengawasan dan pemberian arahan kepada Direksi and advising the Board of Directors on the Company's
mengenai pengembangan karyawan Perseroan. employee development.
6. Memberikan usulan kepada Dewan Komisaris atas 6. Recommending candidates to the Board of
calon yang memenuhi syarat sebagai Dewan Commissioners who meet the qualifications for
Komisaris dan anggota Direksi pada anak usaha members of the Board of Commissioners and Board
Perseroan. of Directors in the Company’s subsidiaries.
7. Secara berkala atau sesuai kebutuhan penugasan 7. Conducting periodic meetings or as required through
melalui rapat KNR. the Nomination & Remuneration Committee meetings.
8. Menyampaikan laporan pelaksanaan tugas KNR 8. Submitting reports on the implementation of duties
544 kepada Dewan Komisaris. of the Nomination & Remuneration Committee to the
Board of Commissioners.
Page 275
Kebijakan Suksesi Direksi Succession Policy of the Board of Directors
Pemenuhan tugas KNR dalam memastikan Perseroan The fulfillment of the Nomination and Remuneration
dikelola oleh pemimpin yang unggul diperkuat melalui Committee’s duties in ensuring that the Company is led
kebijakan suksesi Direksi yang telah ditetapkan PT SMI. by capable and qualified leaders is strengthened through
Kebijakan ini merujuk pada Peraturan Menteri Keuangan the Board of Directors succession policy established by
No. 78/PMK.06/2015 tentang Tata Cara Pengangkatan dan PT SMI. This policy refers to Regulation of the Minister of
Pemberhentian Anggota Direksi Perusahaan Perseroan Finance No. 78/PMK.06/2015 concerning the Procedures
(Persero) di bawah Pembinaan dan Pengawasan for the Appointment and Dismissal of Members of the
Menteri Keuangan. PMK ini kemudian diubah dengan Board of Directors of Limited Liability Companies (Persero)
Peraturan Menteri Keuangan Republik Indonesia No. 59/ under the guidance and supervision of the Minister of
PMK.06/2016, serta Peraturan Menteri Keuangan Republik Finance. The regulation was subsequently amended by
Indonesia No. 135/PMK.06/2017. Seluruh regulasi tersebut Regulation of the Minister of Finance No. 59/PMK.06/2016
mengatur secara komprehensif mulai dari proses and further refined through Regulation of the Minister
penjaringan, pelaksanaan assessment, Uji Kelayakan of Finance No. 135/PMK.06/2017. These regulations
dan Kepatuhan (UKK), penilaian akhir, hingga penetapan comprehensively govern the entire process, ranging from
dan pengangkatan oleh RUPS. candidate sourcing and assessment implementation, the
Fit and Proper Test (UKK), final evaluation, to the formal
appointment and determination by the General Meeting
of Shareholders (GMS).
Rangkaian proses suksesi dilaksanakan dengan The succession process is carried out by upholding the
menjunjung tinggi asas transparansi, keadilan, principles of transparency, fairness, reasonableness, and
kewajaran, serta prinsip kesetaraan kesempatan bagi equal opportunity for all candidates. The identification
seluruh kandidat. Penjaringan calon internal Perseroan of internal candidates to be proposed in the Board of
yang akan diusulkan dalam program suksesi Direksi Directors succession program is conducted in accordance
dijalankan berdasarkan mekanisme yang ditetapkan with the mechanisms stipulated in the Company’s GCG
dalam Pedoman GCG, dengan alur sebagai berikut: Code, through the following process:
Dewan Komisaris
Direksi menetapkan memastikan bahwa Dewan Komisaris
persyaratan jabatan penempatan dalam kemudian memantau
dan proses seleksi jabatan dilaksanakan pengisian formasi
untuk para Kepala berdasarkan prinsip jabatan satu tingkat di
Divisi dan jabatan lain profesionalisme sesuai bawah Direksi dalam
Penetapan untuk
di bawahnya sesuai kompetensi, prestasi upaya menjaring dan
jabatan satu tingkat
dengan kebutuhan kerja dan memenuhi mengusulkan calon
di bawah Direksi harus
Perseroan dalam syarat-syarat objektif anggota Direksi kepada
dilaporkan kepada
menjalankan strategi. yang ditetapkan Direksi. RUPS.
Dewan Komisaris.
The Board of Directors The Board of The Board of
The establishment for
determines the position Commissioners Commissioners then
position one tier below
requirements and ensures that placement monitors the filling of
the Board of Directors
selection process for in the position is formations for positions
must be reported to the
Heads of Division and carried out based one tier under the Board
Board of Commissioners.
other positions below on professionalism of Directors in an effort
them, according to principle according to select and propose
the Company’s needs to competency, work candidates for members
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
in implementing its achievements, and of the Board of Directors
strategy meeting the set forth to the GMS.
objective requirements.
KOMITE PEMANTAU RISIKO RISK MONITORING COMMITTEE
Komite Pemantau Risiko merupakan organ pendukung The Risk Monitoring Committee is a supporting organ
Dewan Komisaris yang menjalankan fungsi pengawasan of the Board of Commissioners tasked with overseeing
atas efektivitas penerapan manajemen risiko di seluruh lini the implementation of risk management across all
usaha Perseroan. Komite ini pertama kali dibentuk pada aspects of the Company’s business. The Risk Monitoring
tahun 2016 melalui Surat Keputusan Dewan Komisaris No. Committee was first established in 2016 based on the
03/SMI/DK/0816 tanggal 5 Agustus 2016. Pembentukan Decree of the Board of Commissioners No. 03/SMI/DK/0816
Komite Pemantau Risiko tersebut dilaksanakan dengan dated August 5, 2016. Its establishment adheres to several
berlandaskan berbagai ketentuan regulator, antara lain: regulations, including:
1. Peraturan Otoritas Jasa Keuangan No. 30/POJK.05/2014 1. Regulation of Financial Services Authority No.
sebagaimana diubah dengan Peraturan Otoritas Jasa 30/POJK.05/2014, as amended by Regulation of
Keuangan No. 29/POJK.05/2020 tentang Tata Kelola Financial Services Authority No. 29/POJK.05/2020,
Perusahaan yang Baik Bagi Perusahaan Pembiayaan; concerning Good Corporate Governance for Financing
Companies; 545
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05 Tata Kelola Perusahaan
Good Corporate Governance
2. Peraturan Otoritas Jasa Keuangan No. 33/POJK.04/2014 2. Regulation of Financial Services Authority No. 33/
tentang Direksi dan Dewan Komisaris Emiten atau POJK.04/2014 concerning the Board of Directors
Perusahaan Publik; and Boards of Commissioners of Issuers or Public
Companies;
3. Peraturan Otoritas Jasa Keuangan No. 44/ 3. Regulation of Financial Services Authority No. 44/
POJK.05/2020 tentang Penerapan Manajemen Risiko POJK.05/2020 concerning the Implementation of
Bagi Lembaga Jasa Keuangan Non-Bank; dan Risk Management for Non-Bank Financial Services
Institutions; and
4. Peraturan Menteri Keuangan No. 88/PMK.06/2015 4. Regulation of the Minister of Finance No. 88/
tentang Penerapan Tata Kelola Perusahaan yang PMK.06/2015 concerning the Implementation of Good
Baik pada Perusahaan Perseroan (Persero) di bawah Corporate Governance of Limited Liability Companies
Pembinaan dan Pengawasan Menteri Keuangan. (Persero) under the Guidance and Supervision of the
Minister of Finance.
Piagam Komite Pemantau Risiko Risk Monitoring Committee Charter
Komite Pemantau Risiko telah menetapkan Piagam The Risk Monitoring Committee has established a
Komite sebagai pedoman kerja resmi yang memuat Committee Charter as its official work guidelines, outlining
arah tujuan, visi dan misi, kewenangan, lingkup tugas the objectives, vision and mission, authority, scope of
dan tanggung jawab, struktur keanggotaan, mekanisme duties and responsibilities, membership structure,
rapat, serta tata kerja komite. Dokumen ini secara berkala meeting mechanisms, and the committee’s working
dievaluasi agar selalu relevan dengan perkembangan procedures. The document is periodically reviewed to
bisnis dan kebutuhan pengelolaan risiko Perseroan. ensure its continued relevance to the Company’s business
Piagam Komite Pemantau Risiko yang berlaku saat ini developments and risk management needs. The current
merupakan pembaruan per 1 Oktober 2025. Sebagai Risk Monitoring Committee Charter was last updated on
bentuk transparansi, piagam tersebut telah dipublikasikan October 1st, 2025. As part of the Company’s commitment
melalui situs web Perseroan dan dapat diakses oleh to transparency, the charter has been published on the
seluruh pemangku kepentingan. Company’s website and is accessible to all stakeholders.
Komposisi dan Profil Komite Pemantau Composition and Profile of the Risk
Risiko Monitoring Committee
Mengacu pada ketentuan dalam Piagam Komite According to the Committee Charter and Regulation of the
dan peraturan OJK, Komite Pemantau Risiko wajib Financial Services Authority, the Risk Monitoring Committee
beranggotakan sedikitnya 3 (tiga) orang, yang terdiri must consist of at least 3 (three) members, including
dari 1 (satu) orang ketua yang merupakan Komisaris 1 (one) head who is an Independent Commissioner
Independen Perseroan, dan 2 (dua) orang anggota yang of the Company and 2 (two) independent members
merupakan pihak independen berasal dari luar Perseroan. from outside the Company. One member must have
Setidaknya satu anggota harus memiliki kompetensi atau educational background or expertise in risk management,
latar belakang di bidang manajemen risiko dan satu and another must have a deep understanding of the
anggota lainnya memiliki pemahaman yang memadai financing industry.
terhadap industri pembiayaan.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Per 31 Desember 2025 , komposisi Komite Pemantau Risiko As of December 31, 2025, the composition of the
Perseroan adalah sebagai berikut: Company’s Risk Monitoring Committee is as follows:
Nama Jabatan di Komite Periode Jabatan Jabatan di Perseroan
Name Position in the Committee Term of Office Position in the Company
Ketua Komite Pemantau Risiko 5 Juli 2024 – 5 Juli 2029 Komisaris Independen
Dikdik Yustandi
Head of the Risk Monitoring Committee July 5, 2024 – July 5, 2029 Independent Commissioner
Anggota Komite Pemantau Risiko
Anggota Komite Pemantau Risiko 16 Juni 2025 – 16 Juni 2028
Heru Budiyanto* Member of the Risk Monitoring
Member of the Risk Monitoring Committee June 16, 2025 – June 16, 2028
Committee
1 Oktober 2025 – 1 Oktober
Anggota Komite Pemantau Risiko
Anggota Komite Pemantau Risiko 2028
Maria Nuringati** Member of the Risk Monitoring
Member of the Risk Monitoring Committee October 1, 2025 – October 1,
Committee
2028
Anggota Komite Pemantau Risiko
Anggota Komite Pemantau Risiko 7 Agustus 2020 – 1 Juni 2025
Tatang Tabroni*** Member of the Risk Monitoring
Member of the Risk Monitoring Committee August 7, 2020 – June 1, 2025
Committee
7 Agustus 2020 – 7 Agustus Anggota Komite Pemantau Risiko
Anggota Komite Pemantau Risiko
Marlius Alrobin**** 2025 Member of the Risk Monitoring
Member of the Risk Monitoring Committee
August 7, 2020 – August 7, 2025 Committee
546
Page 277
Dikdik Yustandi
Ketua Komite Pemantau Risiko
Head of the Risk Monitoring Committee
Beliau ditunjuk sebagai Ketua Komite Pemantau Risiko berdasarkan Surat Keputusan Dewan Komisaris No. SK-02/SMI/DK/0724 tanggal
24 Juli 2024 tentang Pemberhentian dan Pengangkatan Ketua Komite Pemantau Risiko PT Sarana Multi Infrastruktur (Persero). Profil
Beliau dapat dilihat pada Bab Profil Perusahaan dalam Laporan Tahunan ini.
He was appointed as the Head of the Risk Monitoring Committee based on the Decree of the Board of Commissioners No. SK-02/SMI/
DK/0724 dated July 24, 2024, concerning the Dismissal and Appointment of the Head of the Risk Monitoring Committee of PT Sarana
Multi Infrastruktur (Persero). His profile can be found in the Company Profile chapter of this Annual Report.
Heru Budiyanto
Anggota Pemantau Risiko
Member of the Risk Monitoring Committee
58 tahun | 58 years old
Indonesia
Jakarta, Indonesia
Surat Keputusan Dewan Komisaris No. SK-02/SMI/DK/0625 tanggal 16 Juni 2025 tentang
Pemberhentian dan Pengangkatan Anggota Komite Pemantau Risiko PT Sarana Multi
Dasar Hukum Pengangkatan Infrastruktur (Persero).
Legal Basis of Appointment Decree of the Board of Commissioners No. SK-02/SMI/DK/0625 dated June 16, 2025,
concerning the Dismissal and Appointment of Members of the Risk Monitoring Committee of
PT Sarana Multi Infrastruktur (Persero).
Riwayat Pendidikan Sarjana Manajemen, Universitas Pancasila (1985 – 1989)
Educational Background Bachelor’s Degree in Management, Pancasila University (1985 – 1989)
• Sertifikasi Kompetensi Manajemen Risiko Level I, LSPP (2005)
• Sertifikasi Kompetensi Manajemen Risiko Level II, LSPP (2012)
• Sertifikasi Kompetensi Manajemen Risiko Level III, LSPP (2012)
• Manajemen Risiko Perbankan, BNSP (2018)
• Credit Skills Assessment, Omega Performance (2019)
Sertifikasi • Sertifikasi Kompetensi Manajemen Risiko Kualifikasi 5 dan 6, LSPP (2024)
Certification • Risk Management Competency Certification Level I, LSPP (2005)
• Risk Management Competency Certification Level II, LSPP (2012)
• Risk Management Competency Certification Level III, LSPP (2012)
• Banking Risk Management Certification, BNSP (2018)
• Credit Skills Assessment, Omega Performance (2019)
• Risk Management Competency Certification Qualification Levels 5 and 6, LSPP (2024)
• Executive Vice President, Kepala Divisi Risiko Pembiayaan IV, Lembaga Pembiayaan Ekspor
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Indonesia (2023 – 2025)
• Vice President Department Head of Corporate Segment (Mining, Oil & Gas, Automotive,
Multi Finance Sectors), International Banking & Financial Institution, Government Institution,
Special Asset Management & Recovery, PT Bank Mandiri (Persero) Tbk (2020 – 2023)
• Vice President Commercial Risk Head of Middle Corporate, Special Asset Management &
Recovery, PT Bank Mandiri (Persero) Tbk (2017 - 2020)
• Vice President Regional Risk Head of Wholesale & Retail Segment, Special Asset
Management & Recovery, PT Bank Mandiri (Persero) Tbk (2015 – 2017)
• Vice President Deputy Regional CEO Risk of Wholesale & Retail Segment, Special Asset
Management & Recovery, PT Bank Mandiri (Persero) Tbk (2014 – 2015)
• Vice President Regional Risk Manager of Wholesale & Retail Segment, Special Asset
Management & Recovery, and Bank Perkreditan Rakyat, PT Bank Mandiri (Persero) Tbk
Riwayat Pekerjaan
(2011 – 2014)
Career History • Assistant Vice President Senior Credit Risk Manager of Wholesale & Retail Segment, Special
Asset Management & Recovery, and Bank Perkreditan Rakyat, PT Bank Mandiri (Persero) Tbk
(2008 – 2011)
• Credit Risk Manager, PT Bank Mandiri (Persero) Tbk (2006 – 2008)
• Senior Risk Manager, PT Bank Mandiri (Persero) Tbk (2003 – 2006)
• Professional Staff: Corporate Credit Risk Management, PT Bank Mandiri (Persero) Tbk
(2001 – 2003)
• Officer: Corporate & Financial Institution, PT Bank Mandiri (Persero) Tbk (1999 – 2001)
• Loan Administrator Supervisor, PT Bank Bumi Daya (1997 – 1999)
• Relationship Officer, PT Bank Bumi Daya (1996 -1997)
• Audit Assistant, PT Bank Bumi Daya (1993 – 1996)
• Officer, Bank Risjad Salim International (1990 – 1993) 547
• Management Trainee, Salim Group (1989 – 1990)
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05 Tata Kelola Perusahaan
Good Corporate Governance
• Executive Vice President, Head of Financing Risk Division IV, Indonesia Eximbank (2023–2025)
• Vice President, Department Head of Corporate Segment (Mining, Oil & Gas, Automotive,
Multi Finance Sectors), International Banking & Financial Institutions, Government Institutions,
Special Asset Management & Recovery, PT Bank Mandiri (Persero) Tbk (2020 – 2023)
• Vice President, Commercial Risk Head of Middle Corporate, Special Asset Management &
Recovery, PT Bank Mandiri (Persero) Tbk (2017 – 2020)
• Vice President, Regional Risk Head of Wholesale & Retail Segment, Special Asset
Management & Recovery, PT Bank Mandiri (Persero) Tbk (2015 – 2017)
• Vice President, Deputy Regional CEO Risk of Wholesale & Retail Segment, Special Asset
Management & Recovery, PT Bank Mandiri (Persero) Tbk (2014 – 2015)
• Vice President, Regional Risk Manager of Wholesale & Retail Segment, Special Asset
Management & Recovery, and Rural Banks, PT Bank Mandiri (Persero) Tbk (2011 – 2014)
• Assistant Vice President, Senior Credit Risk Manager of Wholesale & Retail Segment, Special
Asset Management & Recovery, and Rural Banks, PT Bank Mandiri (Persero) Tbk (2008 – 2011)
• Credit Risk Manager, PT Bank Mandiri (Persero) Tbk (2006 – 2008)
• Senior Risk Manager, PT Bank Mandiri (Persero) Tbk (2003 – 2006)
• Professional Staff – Corporate Credit Risk Management, PT Bank Mandiri (Persero) Tbk (2001
– 2003)
• Officer – Corporate & Financial Institution, PT Bank Mandiri (Persero) Tbk (1999 – 2001)
• Loan Administrator Supervisor, PT Bank Bumi Daya (1997 – 1999)
• Relationship Officer, PT Bank Bumi Daya (1996 – 1997)
• Audit Assistant, PT Bank Bumi Daya (1993 – 1996)
• Officer, Bank Risjad Salim International (1990 – 1993)
• Management Trainee, Salim Group (1989 – 1990)
Tidak mempunyai rangkap jabatan baik sebagai anggota Dewan Komisaris, anggota
Direksi, dan/atau anggota komite serta jabatan lainnya di Perseroan.
Rangkap Jabatan
Has no concurrent positions, neither as a member of the Board of Commissioners nor a
Concurrent Position member of the Board of Directors, and/or other committee members and other positions in
the Company.
Tidak memiliki hubungan afiliasi baik dengan anggota Direksi, anggota Dewan Komisaris
Hubungan Afiliasi lainnya maupun dengan pemegang saham pengendali dan utama.
Affiliation Has no affiliation with members of the Board of Directors, other members of the Board of
Commissioners or with the controlling and major shareholders.
Maria Nuringati
Anggota Pemantau Risiko
Member of the Risk Monitoring Committee
56 tahun | 56 years old
Indonesia
Jakarta, Indonesia
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Surat Keputusan Dewan Komisaris No. SK-04/SMI/DK/1025 tanggal 1 Oktober 2025 tentang
Pemberhentian dan Pengangkatan Anggota Komite Pemantau Risiko PT Sarana Multi
Dasar Hukum Pengangkatan Infrastruktur (Persero).
Legal Basis of Appointment Decree of the Board of Commissioners No. SK-04/SMI/DK/1025 dated October 1, 2025,
concerning the Dismissal and Appointment of Members of the Risk Monitoring Committee
of PT Sarana Multi Infrastruktur (Persero).
Sarjana Teknologi Pertanian, Institut Pertanian Bogor (1992)
Riwayat Pendidikan
Bachelor’s Degree in Agricultural Technology, Bogor Agricultural Institute/IPB University
Educational Background (1992)
• Sertifikasi Manajemen Risiko Jenjang 7, LSPP (2025)
• Sertifikasi Manajemen Risiko Jenjang 6, LSPP (2024)
• Executive Leadership Program - Kerjasama PT Bank Mandiri (Persero) Tbk dengan IMD
Business School (International Institute for Management Development - Swiss)
Sertifikasi
(2015 – 2016)
Certification • Risk Management Certification Level 7, LSPP (2025)
• Risk Management Certification Level 6, LSPP (2024)
• Executive Leadership Program – collaboration between PT Bank Mandiri (Persero) Tbk
and IMD Business School (2015–2016)
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• Senior Vice President untuk pembiayaan segmen Large Commercial, termasuk
penanganan kredit bermasalah, PT Bank Mandiri (Persero) Tbk (2018 – September
2025)
• VP Risk Head untuk pembiayaan segmen Commercial, PT Bank Mandiri (Persero) Tbk
(2016 – 2018)
• Vice President untuk pembiayaan segmen Corporate, PT Bank Mandiri (Persero) Tbk
(2011 – 2016)
• Risk Manager di bidang perkreditan untuk segmen Corporate, PT Bank Mandiri
(Persero) Tbk (1999 – 2011)
Riwayat Pekerjaan • Credit Analyst Segmen Retail, PT Bank Bumi Daya (1994 – 1999)
Career History • Senior Vice President for financing in the Large Commercial segment, including
handling non-performing loans, PT Bank Mandiri (Persero) Tbk (2018 – September
2025)
• Vice President, Risk Head for the Commercial financing segment, PT Bank Mandiri
(Persero) Tbk (2016 – 2018)
• Vice President for the Corporate financing segment, PT Bank Mandiri (Persero) Tbk
(2011 – 2016)
• Risk Manager in the Corporate credit segment, PT Bank Mandiri (Persero) Tbk (1999 –
2011)
• Credit Analyst, Retail Segment, PT Bank Bumi Daya (1994 – 1999)
Tidak mempunyai rangkap jabatan baik sebagai anggota Dewan Komisaris, anggota
Direksi, dan/atau anggota komite serta jabatan lainnya di Perseroan.
Rangkap Jabatan
Has no concurrent positions, neither as a member of the Board of Commissioners nor a
Concurrent Position member of the Board of Directors, and/or other committee members and other positions
in the Company
Tidak memiliki hubungan afiliasi baik dengan anggota Direksi, anggota Dewan Komisaris
Hubungan Afiliasi lainnya maupun dengan pemegang saham pengendali dan utama.
Affiliation Has no affiliation with members of the Board of Directors, other members of the Board of
Commissioners or with the controlling and major shareholders.
Independensi Komite Pemantau Risiko Independence of the Risk Monitoring
Committee
Piagam Komite Pemantau Risiko juga menetapkan aspek The Risk Monitoring Committee Charter also regulates
independensi yang wajib dipenuhi oleh setiap anggota independence aspects that must be fulfilled by members
komite, mencakup antara lain: of the Risk Monitoring Committee, such as:
1. Bertindak secara independen dalam menjalankan 1. Able to independently conduct its duties and
tugas dan tanggung jawabnya; responsibilities;
2. Memiliki integritas yang tinggi; 2. Holds high integrity;
3. Mematuhi kode etik komite yang ditetapkan Dewan 3. Complies to the Committee Code of Ethics set forth
Komisaris; by the Board of Commissioners;
4. Pada saat penunjukannya, bukan merupakan orang 4. When appointed, is not part of a Public Accounting
dalam kantor akuntan publik, kantor konsultan Firm, Legal Consulting Firm, Public Appraisal Firm or
hukum, kantor jasa penilai publik atau pihak lain yang other parties who provide assurance services, non-
memberikan jasa assurance, jasa non-assurance, assurance services, appraisal services and/or other
jasa penilai dan/atau jasa konsultasi lain pada PT consultancy services for PT SMI within the last 6 (six)
SMI dalam waktu 6 (enam) bulan terakhir; months;
5. Pada saat penunjukannya, bukan merupakan orang 5. When appointed, is not someone working or is
yang bekerja atau mempunyai wewenang dan authorized and responsible to plan, lead, control, PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
tanggung jawab untuk merencanakan, memimpin, or supervise PT SMI’s business within the last 6 (six)
mengendalikan atau mengawasi kegiatan PT SMI months;
dalam waktu 6 (enam) bulan terakhir;
6. Tidak mempunyai afiliasi dengan anggota Dewan 6. Not affiliated to member of the Board of
Komisaris, Direksi maupun Pemegang Saham Utama Commissioners, the Board of Directors or Major
PT SMI; dan Shareholders of PT SMI; and
7. Tidak mempunyai hubungan usaha baik langsung 7. Has no direct or indirect business relationship with
maupun tidak langsung yang berkaitan dengan PT SMI’s business.
kegiatan usaha PT SMI.
Sertifikasi Profesi Anggota Komite Professional Certifications of Members of
Pemantau Risiko the Risk Monitoring Committee
PT SMI menempatkan peningkatan kapasitas sebagai PT SMI places capacity development as one of its key
salah satu prioritas utama dalam mendukung efektivitas priorities in supporting the effectiveness of the Risk
peran Komite Pemantau Risiko Seluruh anggota Komite Monitoring Committee’s role. All members of the Risk
Pemantau Risiko didorong untuk memiliki kompetensi Monitoring Committee are encouraged to possess
teknis dan pemahaman yang memadai agar mampu adequate technical competence and understanding
menjalankan fungsi pengawasan secara optimal serta to enable them to perform their supervisory function
549
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05 Tata Kelola Perusahaan
Good Corporate Governance
responsif terhadap dinamika bisnis Perseroan. Adapun optimally and respond effectively to the Company’s
kualifikasi anggota komite dari sertifikasi yang dimiliki business dynamics. The qualifications of committee
adalah sebagai berikut: members based on the certifications they hold are as
follows:
Nama Jabatan di Komite Sertifikasi yang dimiliki
Name Position in the Committee Certifications
Sertifikasi Kompetensi Manajemen Risiko VII
Risk Management Competency Certification Level VII
Workshop Risk Maturity Index (11-12 November 2024)
Risk Maturity Index (RMI) Workshop (November 11 – 12, 2024)
Risk Beyond 2025 dengan tema Risk Odyssey: Engineering Momentum,
Ketua Komite Building a Resilient Risk DNA (3 – 5 Desember 2025)
Pemantau Risiko Risk Beyond 2025 – Risk Odyssey: Engineering Momentum, Building a Resilient
Dikdik Yustandi
Head of the Risk Monitoring Risk DNA (December 3 – 5, 2025)
Committee
Workshop Penilaian Risk Maturity Index ("RMI") PT Sarana Multi Infrastruktur
(Persero) dan Peningkatan Manajemen Risiko Berdasarkan Hasil Gap
Analysis (6 - 7 Oktober 2025)
Workshop on the Risk Maturity Index (RMI) Assessment of PT Sarana Multi
Infrastruktur (Persero) and Strengthening Risk Management Based on Gap
Analysis Results (October 6 – 7, 2025)
Oxford Sustainable Business Programme (15 - 19 September 2025)
Oxford Sustainable Business Programme (September 15 – 19, 2025)
Anggota Komite GRC Summit (Resilience to Sustainability: Leading Through GRC in The Post-
Pemantau Risiko Digital Era) (21 - 22 Agustus 2025)
Heru Budiyanto
Member of the Risk Monitoring GRC Summit (Resilience to Sustainability: Leading Through GRC in The Post-
Committee Digital Era) (August 21 – 22, 2025)
Sertifikasi Kompetensi Manajemen Risiko Level I (2005)
Risk Management Competency Certification Level I (2005)
Sertifikasi Kompetensi Manajemen Risiko Level II (2012)
Risk Management Competency Certification Level II (2012)
Anggota Komite Pemantau
Risiko Sertifikasi Kompetensi Manajemen Risiko Level III (2012)
Maria Nuringati
Member of the Risk Monitoring Risk Management Competency Certification Level III (2012)
Committee
Manajemen Risiko Perbankan (2018)
Banking Risk Management (2018)
Program Pengembangan Kompetensi Competency Development Program of the
Komite Pemantau Risiko Risk Monitoring Committee
Selama tahun 2025, Perseroan melaksanakan program Throughout 2025, the Company implemented capacity
pengembangan kompetensi bagi Komite Pemantau development programs for the Risk Monitoring
Risiko. Namun demikian, anggota komite senantiasa Committee. In addition, members of the Committee
melakukan program pengembangan kompetensi sesuai continuously participated in competency development
dengan bidang dan keahlian masing-masing. Daftar programs in accordance with their respective fields and
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
kegiatan pelatihan dan peningkatan kompetensi yang areas of expertise. The list of training and competency
diikuti Komite Audit di sepanjang tahun 2025 adalah development activities attended by the Risk Monitoring
sebagai berikut: Committee during 2025 is as follows:
Jenis Pendidikan Materi Pendidikan dan
Nama dan Jabatan dan Pelatihan Pelatihan Tempat/Tanggal Penyelenggara
Name and Position Type of Education Education and Training Date/Venue Organizer
and Training Materials
Telah disampaikan pada sub judul Pengembangan Kompetensi Dewan Komisaris di Bab Tata Kelola
Perusahaan pada Laporan tahunan ini
Dikdik Yustandi
As presented under the sub-section “Competency Development of the Board of Commissioners” in the
Corporate Governance chapter of this Annual Report
550
Page 281
Jenis Pendidikan Materi Pendidikan dan
Nama dan Jabatan dan Pelatihan Pelatihan Tempat/Tanggal Penyelenggara
Name and Position Type of Education Education and Training Date/Venue Organizer
and Training Materials
Risk Beyond 2025 dengan
tema Risk Odyssey:
Engineering Momentum,
Building a Resilient Risk Bali, 3 – 5
DNA Desember 2025
Heru Budiyanto Conference ERMA
Risk Beyond 2025 with December 3 – 5,
the theme “Risk Odyssey: 2025
Engineering Momentum,
Building a Resilient Risk
DNA”
Workshop Penilaian
Risk Maturity Index
("RMI") PT Sarana Multi
Direktorat Manajemen
Infrastruktur (Persero) dan
Risiko PT SMI dan Tim
Peningkatan Manajemen
PricewaterhouseCoopers
Risiko Berdasarkan Hasil Bogor, 6 - 7
(“PwC”)
Gap Analysis Oktober 2025
Workshop Directorate of Risk
Workshop on Risk Maturity Bogor, October
Management
Index (RMI) Assessment 6 – 7, 2025
of PT SMI and
of PT Sarana Multi
PricewaterhouseCoopers
Infrastruktur (Persero)
(PwC) Team
and Strengthening Risk
Management Based on
Gap Analysis Results
Perkumpulan Profesional
Governansi Indonesia
(PaGI), Perkumpulan
Tatakelola Manajemen
Risiko dan Kepatuhan
(Asosiasi GRC), IRMAPA,
IcoPI, dan IPACA
Indonesian Governance
Professionals Association
(Perkumpulan Profesional
GRC Summit (Resilience Yogyakarta, 21 - 22
Governansi Indonesia
to Sustainability: Leading Agustus 2025
Conference – PaGI), Indonesian
Through GRC in The Post- Yogyakarta, August
Governance, Risk &
Digital Era) 21 – 22, 2025
Compliance Association
(Asosiasi GRC), Indonesian
Risk Management
Professional Association
(IRMAPA), Institute of
Compliance Professional
Indonesia (IcoPI),
Indonesia Professional
in Audit and Control
Association (IPACA)
Workshop Penilaian
Risk Maturity Index
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
("RMI") PT Sarana Multi
Direktorat Manajemen
Infrastruktur (Persero) dan
Risiko PT SMI dan Tim
Peningkatan Manajemen
PricewaterhouseCoopers
Risiko Berdasarkan Hasil Bogor, 6 - 7
(“PwC”)
Gap Analysis Oktober 2025
Maria Nuringati Workshop Directorate of Risk
Workshop on Risk Maturity Bogor, October
Management
Index (RMI) Assessment 6 – 7, 2025
of PT SMI and
of PT Sarana Multi
PricewaterhouseCoopers
Infrastruktur (Persero)
(PwC) Team
and Strengthening Risk
Management Based on
Gap Analysis Results
551
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05 Tata Kelola Perusahaan
Good Corporate Governance
Pelaksanaan Rapat Komite Pemantau Implementation of the Risk Monitoring
Risiko Committee Meetings
Pelaksanaan rapat Komite Pemantau Risiko mengikuti The implementation of Risk Monitoring Committee
ketentuan sebagaimana diatur dalam Piagam Komite meetings follows the provisions set out in the Risk
Pemantau Risiko. Berdasarkan pedoman tersebut, Monitoring Committee Charter. Based on these guidelines,
Komite menyelenggarakan rapat secara berkala dengan the Committee holds meetings periodically with a
frekuensi rapat sekurang-kurangnya sama dengan frequency at least equal to the minimum number of
jumlah minimum rapat Dewan Komisaris yang ditetapkan meetings of the Board of Commissioners as stipulated in
dalam Anggaran Dasar, dan dapat diselenggarakan the Articles of Association, and additional meetings may
rapat tambahan bila dibutuhkan. Rapat Komite be convened when necessary. Risk Monitoring Committee
Pemantau Risiko hanya dapat dilaksanakan apabila meetings may only be held if attended by more than
dihadiri oleh lebih dari setengah jumlah anggota dengan half of the committee members and may be conducted
metode tatap muka maupun secara daring/online untuk either in person or through virtual/online meetings to
mengakomodasi berbagai kebutuhan operasional. accommodate operational needs.
Di tahun 2025, Komite Pemantau Risiko telah mengadakan In 2025, the Risk Monitoring Committee held 23 (twenty-
23 (dua puluh tiga) kali rapat. Rincian agenda rapat three) meetings. The details of the meeting agenda and
dan tingkat kehadiran masing-masing anggota Komite attendance level of each member of the Risk Monitoring
Pemantau Risiko disajikan sebagai berikut: Committee are presented as follows:
Tanggal Kehadiran
Agenda Attendance
No Rapat Agenda
Date of Meeting DY MA TT HB MN
1. Tingkat Kesehatan Perseroan Tahun 2024
2. Portofolio Pembiayaan dan Investasi
Desember 2024
3. Update Progres Debitur Watchlist dan NPL
4. Update Risiko Pasar dan Likuiditas
5. Laporan Profil Risiko dan RAS Q4 2024
6. Update Form Evaluasi Dewan Komisaris atau
KUMR
7. Inisiatif Strategis DMR 2025
1. The Company’s Health/Soundness Level for
23 Januari 2025 2024
1. V V V - -
January 23, 2025 2. Financing and Investment Portfolio –
December 2024
3. Update on Watchlist Debtors and NPL
Progress
4. Update on Market and Liquidity Risks
5. Risk Profile and Risk Appetite Statement
(RAS) Report – Q4 2024
6. Update on the Board of Commissioners /
Risk Monitoring Committee Evaluation Form
7. Strategic Initiatives of the Directorate of Risk
Management (DMR) 2025
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
1. Portofolio Pembiayaan dan Investasi Januari
2025
2. Update Progres Debitur Watchlist dan NPL
3. Update Risiko Pasar dan Likuiditas
4. Inisiatif Strategis DMR 2025
5. Hasil Evaluasi KUMR oleh Dewan Komisaris
1. Financing and Investment Portfolio –
25 Februari 2025
2. January 2025 V V V - -
February 25, 2025
2. Update on Watchlist Debtors and NPL
Progress
3. Update on Market and Liquidity Risks
4. Strategic Initiatives of the Directorate of Risk
Management (DMR) 2025
5. Results of the Risk Monitoring Committee
Evaluation by the Board of Commissioners
552
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Tanggal Kehadiran
Agenda Attendance
No Rapat Agenda
Date of Meeting DY MA TT HB MN
Rapat Tematik KPR dan Divisi Pembiayaan Publik
1. Indicative pipeline (Pemda dan Non Pemda)
2. Skema pinjaman daerah (penugasan lkbb
plus intercept dan dana talangan) serta
Pemda syariah
3. Skema BLU dan PDAM beserta mitigasinya
4. Kerangka regulasi yang sudah ada dan
yang masih perlu diperjuangkan beserta
substansinya
5. Kesiapan internal framework dan tools
6. Dampak dari efisiensi APBN/D ke bisnis
pembiayaan publik PT SMI
Thematic Meeting of the Risk Monitoring
Committee with the Public Financing Division
25 Februari 2025
3. 1. Indicative pipeline (regional governments V V V - -
February 25, 2025
and non-regional government entities)
2. Regional loan schemes (assignment of
non-bank financial institutions with intercept
mechanisms and bridge financing),
including Sharia-compliant regional
financing
3. BLU and PDAM schemes and their mitigation
measures
4. Existing regulatory framework and
regulations that still need to be pursued
5. Readiness of internal frameworks and tools
6. Impact of Regional Budget (APBN/D)
efficiency measures on PT SMI’s public
financing business
1. Konsultasi Pengaturan SHL
2. Pembahasan Debitur Watchlist (PT WBW, PT
Tawada Healthcare), PT SNL dan PT META
3. Pembahasan Penyesuaian Rencana Bisnis
11 Maret 2025
4. 1. Consultation on SHL regulatory V V V - -
March 11, 2025
arrangements
2. Discussion on watchlist debtors (PT WBW, PT
Tawada Healthcare, PT SNL, and PT META)
3. Discussion on business plan adjustments
1. Portofolio Pembiayaan dan Investasi
Februari 2025
2. Update Progres Debitur Watchlist dan NPL
3. Update Risiko Pasar dan Likuiditas
24 Maret 2025
5. 1. Financing and Investment Portfolio – V V V - -
March 24, 2025
February 2025
2. Update on Watchlist Debtors and NPL
Progress
3. Update on Market and Liquidity Risks
Rapat Tematik KPR dengan Divisi Riset Ekonomi
24 April 2025
6. Thematic Meeting of the Risk Monitoring V V V - -
April 24, 2025
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Committee with the Economic Research Division
Rapat Tematik KPR dengan Divisi Jasa Konsultasi
24 April 2025
7. Thematic Meeting of the Risk Monitoring V V V - -
April 24, 2025
Committee with the Advisory Services Divisio
1. Portofolio Pembiayaan dan Investasi Maret
2025
2. Update Progres Debitur Watchlist dan NPL
3. Update Risiko Pasar dan Likuiditas
4. Laporan Pemantauan Profil Risiko dan RAS
Q1 2025
25 April 2025
8. 1. Financing and Investment Portfolio – March V V V - -
April 25, 2025
2025
2. Update on Watchlist Debtors and NPL
Progress
3. Update on Market and Liquidity Risks
4. Risk Profile Monitoring Report and RAS – Q1
2025
Rapat Tematik KPR dengan Divisi Penyertaan
20 Mei 2025 Modal
9. V V V - -
May 20, 2025 Thematic Meeting of the Risk Monitoring
Committee with the Equity Investment Division
553
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tanggal Kehadiran
Agenda Attendance
No Rapat Agenda
Date of Meeting DY MA TT HB MN
1. Portofolio Pembiayaan dan Investasi April
2025
2. Update Progress debitur Watchlist dan NPL
3. Update Risiko Pasar dan Likuiditas
4. Usulan Rivisi Kebijakan Umum Manajemen
Risiko
26 Mei 2025
10 1. Financing and Investment Portfolio – April V V V - -
May 26, 2025
2025
2. Update on Watchlist Debtors and NPL
Progress
3. Update on Market and Liquidity Risks
4. Proposed Revision of the General Risk
Management Policy
1. Rapat Tematik KPR dengan Direktorat
Manajemen Risiko dan Direktorat
Pembiayaan & Investasi
2. Konsultasi Pengaturan Limit Pembiayaan
4 Juni 2025 (Inhouse Limit)
11. V V - - -
June 4, 2025 1. Thematic Meeting with the Directorate of
Risk Management and the Directorate of
Financing & Investment
2. Consultation on Financing Limit
Arrangements (In-house Limit)
1. Portofolio Pembiayaan dan Investasi Mei
2025
2. Update Progress Debitur Watchlist dan NPL
3. Update Risiko Pasar dan Risiko Likuiditas
4. Risk Maturity Index (RMI)
5. Update Insiden Peretasan Email Pegawai PT
SMI
25 Juni 2025
12. 1. Financing and Investment Portfolio – May V V - V -
June 25, 2025
2025
2. Update on Watchlist Debtors and NPL
Progress
3. Update on Market and Liquidity Risks
4. Risk Maturity Index (RMI)
5. Update on Email Hacking Incident involving
PT SMI employees
Rapat Tematik KA - KPR dengan Divisi
Pembiayaan Publik 2
1. Profil DPPU-2
2. SDG Indonesia One
3. ETM Country Platform Manager
4. Geothermal Exploration Fund (Dana
Pembiayaan Infrastruktur Sektor Panas
Bumi/PISP)
15 Juli 2025 5. Inisiatif Kajian Pembentukan Trust Fund
13. V V - V -
July 15, 2025 Joint Thematic Meeting of the Audit Committee
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
and the Risk Monitoring Committee with Public
Financing Division 2
1. Profile of Public Financing Division 2
2. SDG Indonesia One
3. ETM Country Platform Manager
4. Geothermal Exploration Fund (Infrastructure
Financing for the Geothermal Sector/PISP)
5. Trust Fund establishment study initiative
554
Page 285
Tanggal Kehadiran
Agenda Attendance
No Rapat Agenda
Date of Meeting DY MA TT HB MN
1. Portofolio Pembiayaan dan Investasi Juni 2025
2. Update Proges Debitur Watchlist dan NPL
3. Update Risiko Pasar dan Risiko Likuiditas
4. Laporan Profil Risiko dan RAS Q2 2025
5. Progres penyelesaian case IT email yang di
kloning dan upaya-upaya agar tidak terulang
lagi included apakah ada concern dari
regulator (OJK) dan Pemegang Saham
6. Progres Pipeline pembiayaan s/d rencana
booking untuk pencapaian pemenuhan target
kinerja terkait dengan Gross Disbursement
& Outstanding, follow up dari Ragab terkait
Penurunan Kinerja yang harus dilaporkan ke
Pemegang Saham
1. Progres Advisory dan Penyiapan Proyek
28 Juli 2025 2. Financing and Investment Portfolio – June
14. V V - V -
July 28, 2025 2025
3. Update on Watchlist Debtors and NPL Progress
4. Update on Market and Liquidity Risks
5. Risk Profile and RAS Report – Q2 2025
6. Progress on resolving the cloned email
incident and preventive measures, including
potential concerns from regulators (OJK) and
shareholders
7. Progress on financing pipeline and
booking plans to achieve performance
targets related to Gross Disbursement and
Outstanding, including follow-up from Ragab
regarding performance decline reporting to
shareholders
8. Progress on advisory services and project
preparation
1. Portofolio Pembiayaan dan Investasi Juli
2025
2. Update Progres Debitur Watchlist dan NPL
3. Update Risiko Pasar dan Risiko Likuiditas
4. Update Stress Test Semester I 2025
5. Update Portofolio Negative Pledge dan
Clean Basis
25 Agustus 2025
15. 1. Financing and Investment Portfolio – July V - - V -
August 25, 2025
2025
2. Update on Watchlist Debtors and NPL
Progress
3. Update on Market and Liquidity Risks
4. Stress Test Update – Semester I 2025
5. Update on Negative Pledge and Clean Basis
portfolio
Rapat Tematik - Divisi Pengembangan Proyek
1. Update mengenai DPP
2. Coverage & Tata Kelola DPP seperti apa
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
3. Hal-hal yang telah dilakukan DPP atau
deliverable terkait berupa apa saja
4. Hal-hal yang dilakukan DPP ke depan,
included dengan hal yang akan dilakukan di
25 Agustus 2025
16. tahun 2025 V - - V -
August 25, 2025
Thematic Meeting – Project Development
Division
1. Updates on the Project Development Division
(DPP)
2. Scope and governance of the division
3. Key deliverables achieved by the division
4. Future plans, including initiatives for 2025
1. Portofolio Pembiayaan dan Investasi
Agustus 2025
2. Update Progres Debitur Watchlist dan NPL
3. Update Risiko Pasar dan Risiko Likuiditas
4. Update Penilaian Risk Maturity Index (RMI) PT
30 September
SMI Kinerja Tahun Buku 2024
2025
17. 1. Financing and Investment Portfolio – August V - - V -
September 30,
2025
2025
2. Update on Watchlist Debtors and NPL
Progress
3. Update on Market and Liquidity Risks
4. Update on the Risk Maturity Index (RMI)
555
assessment for PT SMI’s 2024 performance
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tanggal Kehadiran
Agenda Attendance
No Rapat Agenda
Date of Meeting DY MA TT HB MN
1. Portfolio Pembiayaan September 2025
2. Update Progres Debitur Watchlist dan NPL
3. Update Risiko Pasar dan Likuiditas
4. Laporan Profil Risiko & RAS Triwulan III 2025
5. Usulan Kebijakan GCG, CoC dan Board
Manual
6. Portfolio Pembiayaan & Penyertaan Modal
Sektor Jalan Tol
1. Financing and Investment Portfolio –
29 Oktober 2025
18. September 2025 V - - V V
October 29, 2025
2. Update on Watchlist Debtors and NPL
Progress
3. Update on Market and Liquidity Risks
4. Risk Profile and RAS Report – Q3 2025
5. Proposed policies on Good Corporate
Governance (GCG), Code of Conduct (CoC),
and Board Manual
6. Financing and equity investment portfolio in
the toll road sector
1. Rapat Tematik Divisi Evaluasi Pembiayaan
dan Investasi
24 November 2025 2. Kajian Sektor Jalan Tol dan Listrik
19. November 24, 1. Thematic Meeting – Financing and V - - V V
2025 Investment Evaluation Division
2. Sectoral review of the toll road and electricity
sectors
Rapat KPR & KA - Tematik Divisi Kepatuhan
1. Struktur Organisasi Divisi Kepatuhan
2. Kerangka tata kelola operasional Divisi
Kepatuhan
3. Pelaksanaan Fungsi Kepatuhan
4. Penerapan APU PPT
5. Implementasi Good Corporate Governance
(GCG)
6. Unit Pengendalian Gratifikasi
7. Tindak Lanjut Arahan Dewan Komisaris/
Komite Periode Sebelumnya
Joint Meeting of the Risk Monitoring Committee
24 November 2025 and Audit Committee – Compliance Division
20. November 24, 1. Organizational structure of the Compliance V - - V V
2025 Division
2. Operational governance framework of the
Compliance Division
3. Implementation of compliance functions
4. Anti-Money Laundering and Counter-
Terrorism Financing (AML, CTF)
implementation
5. Implementation of Good Corporate
Governance (GCG)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
6. Gratification Control Unit
7. Follow-up on directives from the Board
of Commissioners / previous committee
meetings
1. Portofolio Pembiayaan dan Investasi
Oktober 2025
2. Update Progress Debitur Watchlist dan NPL/
NPF
25 November 2025
3. Update Risiko Pasar dan Likuiditas
21. November 25, V - - V V
1. Financing and Investment Portfolio –
2025
October 2025
2. Update on Watchlist Debtors and NPL/NPF
Progress
3. Update on Market and Liquidity Risks
556
Page 287
Tanggal Kehadiran
Agenda Attendance
No Rapat Agenda
Date of Meeting DY MA TT HB MN
Rapat KPR & KA - Tematik Divisi Teknologi
Informasi
1. Struktur organisasi dan tugas & tanggung
jawab Divisi TI
2. Evaluasi penerapan Manajemen Risiko TI
tahun 2025: People, Process, Technology,
Capital Expenditure 2025
3. Rencana Kerja TI tahun 2026
4. Tindak lanjut hasil pemeriksaan audit
eksternal dan internal
5. Evaluasi pelaporan TI kepada regulator.
6. Evaluasi IT General Controls (ITGC) &
Information Security
7. Cybersecurity & Vulnerability Management
8. IT Compliance, Governance & BCP/DRP
9. Infrastruktur & Integrasi Sistem
10. Roadmap Teknologi & Inovasi Digital
11. Hasil Rapat IT Steering Committee
8 Desember 2025 Joint Meeting of the Risk Monitoring Committee
22. V - - V V
December 8, 2025 and Audit Committee – Information Technology
Division
1. Organizational structure and roles of the IT
Division
2. Evaluation of IT risk management
implementation in 2025: People, Process,
Technology, and Capital Expenditure
3. IT Work Plan for 2026
4. Follow-up on internal and external audit
findings
5. Evaluation of IT reporting to regulators
6. Evaluation of IT General Controls (ITGC) and
Information Security
7. Cybersecurity and Vulnerability
Management
8. IT Compliance, Governance, and BCP/DRP
9. Infrastructure and System Integration
10. Technology Roadmap and Digital Innovation
11. Results of the IT Steering Committee meeting
1. Portofolio Pembiayaan dan Investasi
November 2025
2. Update Progress Debitur Watchlist dan NPL/
NPF
3. Update Risiko Pasar dan Likuiditas
4. RAC Pembiayaan Pemda (BLU)
5. Proses/Mekanisme EWS Pembiayaan
6. Progress Inisiatif DMR 2025
22 Desember 2025 1. Financing and Investment Portfolio –
23. December 22, November 2025 V - - V V
2025 2. Update on Watchlist Debtors and NPL/NPF
Progress
3. Update on Market and Liquidity Risks
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
4. RAC on Regional Government Financing
(BLU)
5. Early Warning System (EWS) mechanism for
financing
6. Progress of the Directorate of Risk
Management’s strategic initiatives for 2025
Jumlah Kehadiran
23 14 10 12 6
Total Attendance
Persentase Kehadiran
100% 100% 100% 100% 100%
Percentage of Attendance
Keterangan: Notes:
V : Hadir V : Present
V* : Hadir dengan Surat Kuasa V* : Present by Proxy
X : Tidak Hadir X : Absent
DY : Dikdik Yustandi DY : Dikdik Yustandi
HB : Heru Budiyanto* HB : Heru Budiyanto*
MN : Maria Nuringati** MN : Maria Nuringati**
MA : Marlius Alrobin*** MA : Marlius Alrobin***
TT : Tatang Tabroni**** TT : Tatang Tabroni****
* Mulai menjabat per 16 Juni 2025 * Officially served since June 16, 2025
**Mulai menjabat per 1 Oktober 2025 ** Officially served since October 1, 2025
***Berhenti menjabat per 7 Agustus 2025 ***No longer served since August 7, 2025
**** Berhenti menjabat per 1 Juni 2025 ****No longer served since June 1, 2025
557
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tugas, Tanggung Jawab dan Wewenang Duties and Responsibilities of the Risk
Komite Pemantau Risiko Monitoring Committee
Piagam Komite Pemantau Risiko menetapkan ruang The Risk Monitoring Committee Charter contains the
lingkup tugas, tanggung jawab, serta kewenangan Komite duties, responsibilities, and authority of the Risk Monitoring
Pemantau Risiko, yang mencakup antara lain: Committee as follows:
1. Mengevaluasi kesesuaian kebijakan manajemen risiko 1. Evaluate the conformity of the Company’s risk
Perseroan dengan pelaksanaannya; management policy and its implementation;
2. Melakukan pengawasan dan evaluasi pada 2. Supervise and evaluate the duties implementation
pelaksanaan tugas Komite Manajemen Risiko dan of the Risk Management Committee and Risk
Satuan Kerja Manajemen Risiko; Management Unit;
3. Memberikan masukan kepada Dewan Komisaris 3. Provide input to the Board of Commissioners in
dalam penyusunan dan perbaikan kebijakan preparing and improving risk management policy
manajemen risiko yang berkaitan dengan relevant to risk control in areas of asset and liability
pengendalian risiko di bidang pengelolaan asset management, liquidity, financing and operations,
& liability, likuiditas, pembiayaan dan operasional, before seeking approval from the Board of
sebelum mendapat persetujuan Dewan Komisaris; Commissioners;
4. Melakukan diskusi dengan Direksi atau unit kerja yang 4. Discussion with the Board of Directors or relevant units
terkait dengan masalah yang manajemen risikonya whose risk management issue needs to be discussed
perlu atau sedang dibahas; or is being discussed;
5. Melakukan identifikasi hal-hal yang memerlukan 5. Identify issues to be addressed by the Board of
perhatian Dewan Komisaris dan tugas-tugas lain Commissioners and other duties of the Board of
Dewan Komisaris; Commissioners;
6. Menyusun dan menyampaikan rencana kerja tahunan 6. Prepare and present annual work plans to be ratified
kepada Dewan Komisaris untuk ditetapkan, serta by the Board of Commissioners, as well as the report
melaporkan pelaksanaan rencana kerja tahunan of its implementation to the Board of Commissioners;
tersebut kepada Dewan Komisaris;
7. Menyampaikan rekomendasi kepada Dewan 7. Provide recommendations to the Board of
Komisaris atas kebijakan yang telah diambil oleh Commissioners regarding the Board of Directors’
Direksi berkaitan dengan manajemen risiko; policy on risk management;
8. Melakukan penelaahan atas ketaatan terhadap 8. Review the compliance with laws and regulations with
peraturan perundang-undangan yang mempunyai significant impact risk to the Company’s business;
dampak risiko signifikan berhubungan dengan
kegiatan Perseroan;
9. Menelaah dan memberikan saran kepada Dewan 9. Review and provide advice to the Board of
Komisaris Perseroan terkait dengan adanya potensi Commissioners on issues of possible conflict of
benturan kepentingan; interest;
10. Memberikan rekomendasi kepada Dewan Komisaris 10. Provide recommendations to the Board of
tentang penetapan limit yang memerlukan Commissioners regarding determination on limit
persetujuan Dewan Komisaris sesuai dengan yang to be approved by the Board of Commissioners,
dipersyaratkan dalam Anggaran Dasar, danyang as required in the Articles of Association and
ditetapkan oleh Otoritas Pengawas Bank dan Pasar provisioned by the Bank Supervisory Authority and
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Modal; Capital Market;
11. Menjaga kerahasiaan dokumen, data dan informasi; 11. Maintain confidentiality of documents, data and
dan information; and
12. Melakukan tugas lain yang diberikan Dewan Komisaris. 12. Perform other duties assigned by the Board of
Commissioners.
Di samping itu, guna mendukung efektivitas tugas dan In addition, to support the effectiveness of the duties and
tanggung jawab Dewan Komisaris, Komite Pemantau responsibilities of the Board of Commissioners, the Risk
Risiko memiliki sejumlah kewenangan, seperti: Monitoring Committee is granted several authorities,
including:
1. Meminta laporan-laporan internal yang berkaitan 1. Request internal reports on risk control in the areas of
dengan pengendalian risiko di bidang asset & liability, asset and liability, financing, liquidity and operations,
pembiayaan, likuiditas dan operasional, antara lain containing:
menyangkut:
a. Eksposur risiko; a. Risk exposure;
b. Kepatuhan terhadap kebijakan dan prosedur serta b. Compliance with policy and procedure, and
penetapan limit-limit; limitation;
c. Realisasi pelaksanaan pengendalian risiko c. Realization of risk control implementation
dibandingkan dengan target yang telah compared to the set target; and
558 ditetapkan; dan
d. Laporan berkala profil risiko Perseroan. d. Periodic report on the Company’s risk profile.
Page 289
2. Bekerja sama dengan Komite Audit secara umum dan 2. Collaborate with the Audit Committee in general and/
secara khusus untuk meminta Internal Audit untuk or specifically to request the Internal Audit to audit
melakukan pemeriksaan terhadap bidang-bidang certain areas with increased risk exposure.
tertentu yang exposure risikonya memburuk.
3. Mengakses catatan dan informasi tentang karyawan, 3. Access records and information of employees, funding,
dana, aset serta sumber dana lainnya milik Perseroan assets and other fund resources of the Company, in
yang berkaitan dengan pelaksanaan tugasnya. relevance to the implementation of duties.
4. Mendapatkan informasi yang dibutuhkan dari para 4. Obtain required information from relevant employees
karyawan Perseroan yang terkait serta memanggil as well as summon external parties to attain the
pihak-pihak eksternal dalam rangka memperoleh required information.
informasi yang dibutuhkan.
5. Kewenangan lain yang diberikan oleh Dewan 5. Other authorities granted by the Board of
Komisaris. Commissioners.
Pelaksanaan Kegiatan Komite Pemantau Implementation of Duties of the Risk
Risiko di Tahun 2025 Monitoring Committee in 2025
Di luar penyelenggaraan rapat rutin maupun kehadiran In addition to holding regular meetings and attending
pada rapat organ lain sesuai lingkup tugasnya, Komite meetings of other corporate organs within the scope of
Pemantau Risiko juga telah menyelesaikan rangkaian its duties, the Risk Monitoring Committee also completed
penelaahan terhadap berbagai usulan Direksi. a series of reviews of various proposals submitted by the
Penelaahan ini mencakup dokumen-dokumen yang Board of Directors. These reviews covered documents
diajukan dalam mekanisme Konsultasi Dewan Komisaris, submitted through the Board of Commissioners
meliputi: consultation mechanism, including:
1. Telaah usulan konsultasi atas rencana pembiayaan 1. Review of the consultation proposal regarding
kepada PT Kereta Api Indonesia (Persero). the planned financing for PT Kereta Api Indonesia
(Persero).
2. Telaah usulan konsultasi atas rencana pembiayaan 2. Review of the consultation proposal regarding the
kepada PT Medco Cahaya Geothermal. planned financing for PT Medco Cahaya Geothermal.
3. Telaah usulan konsultasi atas rencana pembiayaan 3. Review of the consultation proposal regarding the
kepada PT Armada Gema Nusantara. planned financing for PT Armada Gema Nusantara.
4. Telaah usulan konsultasi atas rencana pembiayaan 4. Review of the consultation proposal regarding the
kepada PT Oki Pulp & Paper Mills. planned financing for PT OKI Pulp & Paper Mills.
5. Telaah usulan konsultasi atas rencana pembiayaan 5. Review of the consultation proposal regarding
kepada PT KAI – LRT Jabodebek. the planned financing for PT Kereta Api Indonesia
(Persero) – Jabodebek LRT project.
6. Telaah usulan konsultasi atas rencana pembiayaan 6. Review of the consultation proposal regarding the
kepada PT Citra Marga Nusaphala Persada. planned financing for PT Citra Marga Nusaphala
Persada Tbk.
7. Telaah usulan konsultasi atas rencana pembiayaan 7. Review of the consultation proposal regarding the
kepada PT Jasamarga Jalanlayang Cikampek. planned financing for PT Jasamarga Jalanlayang
Cikampek.
8. Telaah usulan konsultasi atas perpanjangan fasilitas 8. Review of the consultation proposal regarding the PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
modal kerja revolving dan penambahan pembiayaan extension of a revolving working capital facility and
investasi kepada PT Krakatau Bandar Samudera. additional investment financing for PT Krakatau
Bandar Samudera.
9. Telaah usulan konsultasi atas rencana pemberian 9. Review of the consultation proposal regarding the
fasilitas corporate financing kepada PT Pertamina provision of a corporate financing facility for PT
International Shipping. Pertamina International Shipping.
10. Telaah usulan konsultasi atas rencana pembiayaan 10. Review of the consultation proposal regarding the
kepada PT Pertamina Hulu Energi (Corporate Financing planned financing for PT Pertamina Hulu Energi
– Selldown dari porsi BNI). (corporate financing – selldown from BNI’s portion).
11. Telaah usulan konsultasi atas rencana pembiayaan 11. Review of the consultation proposal regarding the
kepada HK Akses Tanjung Priok. planned financing for HK Akses Tanjung Priok.
12. Telaah usulan konsultasi atas rencana pembiayaan 12. Review of the consultation proposal regarding the
kepada PT Tower Bersama Infrastructure Tbk. planned financing for PT Tower Bersama Infrastructure
Tbk.
13. Telaah usulan konsultasi atas rencana pemberian 13. Review of the consultation proposal regarding the
SHL Bridging kepada PT Cimanggis Cibitung Tollways. provision of an SHL bridging facility for PT Cimanggis
Cibitung Tollways.
559
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05 Tata Kelola Perusahaan
Good Corporate Governance
14. Telaah usulan konsultasi atas rencana pemberian 14. Review of the consultation proposal regarding the
fasilitas pembiayaan sindikasi a.n. PT OKI Pulp & Paper provision of a syndicated financing facility for PT OKI
Mills. Pulp & Paper Mills.
15. Telaah usulan konsultasi atas rencana pemberian 15. Review of the consultation proposal regarding the
fasilitas pembiayaan non cash kepada PT Pelabuhan provision of a non-cash financing facility for PT
Patimban Internasional. Pelabuhan Patimban Internasional.
16. Telaah usulan konsultasi atas rencana restrukturisasi 16. Review of the consultation proposal regarding the
fasilitas pembiayaan kepada PT PP Semarang Demak. restructuring of financing facilities for PT PP Semarang
Demak.
17. Telaah usulan konsultasi atas rencana perpanjangan 17. Review of the consultation proposal regarding the
divestasi PT Cimanggis Cibitung Tollways. extension of the divestment period for PT Cimanggis
Cibitung Tollways.
18. Telaah usulan konsultasi atas rencana pembiayaan 18. Review of the consultation proposal regarding the
kepada PT Kereta Commuter Indonesia. planned financing for PT Kereta Commuter Indonesia.
19. Telaah usulan konsultasi atas rencana pembiayaan 19. Review of the consultation proposal regarding the
kepada PLN Batam. planned financing for PLN Batam.
20. Telaah usulan konsultasi atas rencana pembiayaan 20. Review of the consultation proposal regarding
kepada Pemkab Badung. the planned financing for the Badung Regency
Government.
21. Telaah usulan konsultasi atas rencana pembiayaan 21. Review of the consultation proposal regarding the
kepada PT Hutama Panorama Sitinjau Lauik. planned financing for PT Hutama Panorama Sitinjau
Lauik.
22. Telaah usulan konsultasi atas rencana pembiayaan 22. Review of the consultation proposal regarding
corporate financing Project Archipelago (InJourney corporate financing for Project Archipelago under
Group). the InJourney Group.
23. Telaah usulan konsultasi atas rencana pembiayaan 23. Review of the consultation proposal regarding the
kepada PT PLN (Persero). planned financing for PT PLN (Persero).
Sekretariat Dewan Komisaris Secretariat of the Board of Commissioners
PT SMI memiliki organ pendukung berupa Sekretariat PT SMI has a supporting organ in the form of Secretariat
Dewan Komisaris yang ditetapkan dan bertanggung of the Board of Commissioners, which is established by
jawab langsung kepada Dewan Komisaris, sebagaimana and directly accountable to the Board of Commissioners,
diatur dalam Peraturan Menteri Keuangan No. 88/ as stipulated in Regulation of the Minister of Finance
PMK.06/2015 tanggal 28 April 2015 tentang Penerapan Tata No. 88/PMK.06/2015 dated April 28, 2015, concerning
Kelola Perusahaan yang Baik pada Perusahaan Perseroan the Implementation of Good Corporate Governance in
(Persero) di bawah Pembinaan dan Pengawasan Menteri Limited Liability Companies (Persero) under the guidance
Keuangan. Sekretariat Dewan Komisaris berperan and supervision of the Minister of Finance. Secretariat of
dalam memastikan kelancaran pelaksanaan fungsi the Board of Commissioners plays an important role in
pengawasan serta mendukung kebutuhan administratif ensuring the smooth implementation of the supervisory
dan operasional Dewan Komisaris secara keseluruhan. function and in supporting the overall administrative
and operational needs of the Board of Commissioners.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Profil Sekretaris Dewan Komisaris Profile of the Secretary of the Board of
Commissioners
Per 31 Desember 2024, PT SMI memiliki Sekretariat Dewan As of 31 December 2024, PT SMI had a Secretariat of the
Komisaris yang dijalankan oleh 1 (satu) orang Sekretaris Board of Commissioners consisting of 1 (one) Secretary to
Dewan Komisaris dan 2 (dua) orang staf Sekretariat the Board of Commissioners and 2 (two) staff members
Dewan Komisaris. Adapun posisi Sekretaris Dewan of the Secretariat of the Board of Commissioners. For the
Komisaris untuk tahun buku 2025 diemban oleh Sri 2025 fiscal year, the position of Secretary to the Board
Yuwono Hari Sarjito, berdasarkan Surat Keputusan Dewan of Commissioners was held by Sri Yuwono Hari Sarjito,
Komisaris No. SK-09/SMI/DK/1220 tanggal 11 Desember based on the Decree of the Board of Commissioners
2020 dan No. SK-04/SMI/DK/1223 tanggal 11 Desember No. SK-09/SMI/DK/1220 dated December 11, 2020, and
2023. Penugasan Sri Yuwono Hari Sarjito sebagai Sekretaris No. SK-04/SMI/DK/1223 dated December 11, 2023. His
Dewan Komisaris tersebut berakhir secara efektif pada assignment as Secretary to the Board of Commissioners
tanggal 11 Desember 2025. Selanjutnya, posisi Sekretaris ended effectively on December 11, 2025. Subsequently, the
Dewan Komisaris digantikan oleh Adinugroho Dwiutomo position of Secretary to the Board of Commissioners was
berdasarkan Surat Keputusan Dewan Komisaris No. SK- assumed by Adinugroho Dwiutomo based on the Decree
06/SMI/DK/1225 tentang Pengangkatan Sekretaris Dewan of the Board of Commissioners No. SK-06/SMI/DK/1225
Komisaris PT Sarana Multi Infrastruktur (Persero) tanggal concerning the Appointment of the Secretary to the
24 Desember 2025, yang berlaku efektif sejak tanggal 24 Board of Commissioners of PT Sarana Multi Infrastruktur
560 Desember 2025.` (Persero), dated December 24, 2025, which became
effective on December 24, 2025.
Page 291
Adinugroho Dwiutomo
Sekretaris Dewan Komisaris | Secretary to the Board of Commissioners
47 tahun | 47 years old
Indonesia | Indonesian
Depok Jawa Barat, Indonesia | Depok, West Java, Indonesia
Dasar Hukum Pengangkatan Keputusan Dewan Komisaris No. SK-06/SMI/DK/1225 tanggal 24 Desember 2025
Legal Basis of Appointment Decree of the Board of Commissioners No. SK-06/SMI/DK/1225 dated December 24, 2025
• Master of Economic Development, Yokohama National University (2011)
• Master of Economics, Fakultas Ekonomi, Universitas Indonesia (2011)
Riwayat Pendidikan • Sarjana Teknik, Fakultas Teknik Industri, STT Telkom (2001)
Educational Background • Master of Economic Development, Yokohama National University (2011)
• Master of Economics, Faculty of Economics, University of Indonesia (2011)
• Bachelor of Engineering, Faculty of Industrial Engineering, STT Telkom (2001)
• Sekretaris Dewan Komisaris PT Sarana Multi Infrastruktur (Persero) (2025-sekarang)
• Kepala Subdirektorat Kekayaan Negara Dipisahkan IV, Direktorat Kekayaan Negara
Dipisahkan, DJKN (2022–sekarang)
• Sekretaris Dewan Komisaris PT Sarana Multigriya Finansial (Persero) (2022-2025)
• Kepala Subdirektorat Penyusunan Anggaran Belanja Negara, Direktorat Penyusunan
APBN, DJA (2014-2022)
Sertifikasi • Secretary to the Board of Commissioners, PT Sarana Multi Infrastruktur (Persero)
Certification (2025–present)
• Head of Subdirectorate of Separated State Assets IV, Directorate of Separated State
Assets, Directorate General of State Assets (2022–present)
• Secretary to the Board of Commissioners, PT Sarana Multigriya Finansial (Persero)
(2022–2025)
• Head of Subdirectorate for State Expenditure Budget Formulation, Directorate of State
Budget Formulation, Directorate General of Budget (2014–2022)
Tidak mempunyai rangkap jabatan baik sebagai anggota Dewan Komisaris, anggota
Direksi, dan/atau anggota komite serta jabatan lainnya di Perseroan.
Riwayat Pekerjaan
Has no concurrent positions, neither as a member of the Board of Commissioners nor a
Career History member of the Board of Directors, and/or other committee members and other positions
in the Company
Tidak memiliki hubungan afiliasi baik dengan anggota Direksi, anggota Dewan Komisaris
Rangkap Jabatan lainnya maupun dengan pemegang saham pengendali dan utama.
Concurrent Position Has no affiliation with members of the Board of Directors, other members of the Board of
Commissioners or with the controlling and major shareholders.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Tugas dan Tanggung Jawab Sekretariat Duties and Responsibilities of Secretariat
Dewan Komisaris of the Board of Commissioners
Dalam menjalankan perannya sebagai pendukung In carrying out its role in supporting the operational
operasional fungsi pengawasan Dewan Komisaris, implementation of the Board of Commissioners’
Sekretariat Dewan Komisaris memikul sejumlah tugas supervisory function, the Secretariat of the Board of
dan tanggung jawab strategis. Ruang lingkup peran Commissioners assumes several strategic duties and
tersebut mencakup: responsibilities. The scope of these roles includes:
1. Menyelenggarakan kegiatan administrasi 1. Conduct secretarial administration works within the
kesekretariatan di lingkungan Dewan Komisaris. Board of Commissioners’ office.
2. Menyelenggarakan Rapat Dewan Komisaris dan 2. Organize Board of Commissioners meetings and
rapat/pertemuan antara Dewan Komisaris dengan meetings between the Board of Commissioners and
Pemegang Saham, Direksi maupun pihak-pihak Shareholders, the Board of Directors, and with other
terkait (stakeholder) lainnya. stakeholders.
3. Menyiapkan draft Surat Tanggapan/Laporan/ 3. Prepare draft of Response Letter/Report/
Rekomendasi/Pendapat/Saran Dewan Komisaris Recommendation/Opinion/Suggestion of Board of
kepada stakeholders. Commissioners to stakeholders.
561
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05 Tata Kelola Perusahaan
Good Corporate Governance
4. Berkoordinasi dengan pihak penilai independen, 4. Coordinate with independent assessors, the
manajemen Perseroan dan Organ Dewan Komisaris Company’s management, and Organs of the Board
dalam pelaksanaan penilaian tata kelola korporat of Commissioners in the implementation of corporate
tahun berjalan khususnya aspek Dewan Komisaris. governance assessments in the fiscal year, specifically
the Board of Commissioners aspect.
5. Berkoordinasi dengan manajemen Perseroan dan 5. Coordinate with the Company’s management and
Organ Dewan Komisaris terkait Pembaruan/Revisi Organs of the Board of Commissioners related to the
Kebijakan Umum Perseroan yang memerlukan Update/Revision of the Company’s General Policy in
persetujuan Dewan Komisaris. need of the Board of Commissioners’ approval.
6. Menyusun dan berkoordinasi dengan manajemen 6. Develop and coordinate with the Company’s
Perseroan dan Organ Dewan Komisaris terkait Laporan management and Organs of the Board of
Tahunan Perseroan untuk bagian Dewan Komisaris Commissioners related to the Company’s Annual
dan Organ Dewan Komisaris. Report for the Board of Commissioners and Organs
of the Board of Commissioners.
7. Menyediakan data/informasi yang diperlukan oleh 7. Provide data/information requested by the Board
Dewan Komisaris dan Komite-Komite di lingkungan of Commissioners and the supporting Committees,
Dewan Komisaris yang berkaitan dengan: with regards to:
a. Monitoring tindak lanjut hasil keputusan, a. Monitoring follow-up actions to the decisions,
rekomendasi dan arahan Dewan Komisaris; recommendations and instructions from the Board
of Commissioners;
b. Bahan/materi yang bersifat administrasi b. Administrative materials/ information concerning
mengenai laporan/kegiatan Direksi dalam the Board of Directors’ reports/activities in
mengelola Perseroan; managing the Company;
c. Dukungan administrasi serta monitoring berkaitan c. Administrative support and monitoring on matters
dengan hal-hal yang harus mendapatkan that need approval or recommendation from the
persetujuan atau rekomendasi dari Dewan Board of Commissioners regarding the Company’s
Komisaris sehubungan dengan kegiatan managing activity by the Board of Directors.
pengelolaan Perseroan yang dilakukan oleh
Direksi.
8. Mengumpulkan data-data teknis yang berasal dari 8. Collecting technical data from Committees within the
komite-komite di lingkungan Dewan Komisaris untuk Board of Commissioners to be used by the Board of
keperluan Dewan Komisaris. Commissioners.
9. Membantu Dewan Komisaris dalam pendampingan 9. Assist the Board of Commissioners in conducting
ke Proyek Perseroan. assistance visit to the Company’s Project.
10. Pelaksanaan tugas-tugas keprotokolan dan 10. Carry out protocol and assistance duties to members
pendampingan terhadap anggota Dewan Komisaris. of the Board of Commissioners.
Pelaksanaan Kegiatan Sekretariat Dewan Implementation of Activities of the
Komisaris di Tahun 2025 Secretariat of the Board of Commissioners
in 2025
Sepanjang tahun buku 2024, Sekretariat Dewan Komisaris Throughout the 2024 fiscal year, the Secretariat of the
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
telah melaksanakan berbagai aktivitas untuk memastikan Board of Commissioners carried out various activities
proses kerja dan fungsi pengawasan Dewan Komisaris to ensure that the working processes and supervisory
berjalan efektif. Beragam kegiatan tersebut antara lain: functions of the Board of Commissioners were conducted
effectively. These activities included, among others:
1. Administrasi dan Filling terkait segala aktivitas Dewan 1. Administration and Filing related to all activities of the
Komisaris. Board of Commissioners.
2. Menyusun Program Kerja Dewan Komisaris dan 2. Preparing the Work Program for the Board of
Sekretaris Dewan Komisaris. Commissioners and the Secretary to the Board of
Commissioners.
3. Mengikuti program induksi, pelatihan dan seminar 3. Attending induction/orientation programs, training,
yang dapat meningkatkan produktivitas dan fungsi and seminars that enhance the productivity
dari Sekretaris Dewan Komisaris. and function of the Secretary to the Board of
Commissioners.
4. Membantu Dewan Komisaris dalam penyelenggaraan 4. Assisting the Board of Commissioners in organizing
Rapat Dewan Komisaris, Rapat Gabungan Dewan Board of Commissioners Meetings, Joint Meetings of
Komisaris dan Direksi, Rapat Konsultasi dan juga the Board of Commissioners and Board of Directors,
dukungan terhadap Rapat Komite Audit, Rapat Komite Consultation Meetings, as well as supporting Audit
Pemantau Risiko, dan Rapat Komite Nominasi dan Committee Meetings, Risk Monitoring Committee
Remunerasi. Meetings, and Nomination and Remuneration
562 Committee Meetings.
Page 293
5. Menyiapkan draft Surat Tanggapan/Laporan/ 5. Drafting response letters, reports, recommendations,
Rekomendasi/Pendapat/Saran Dewan Komisaris opinions, and suggestions from the Board of
kepada Stakeholders. Commissioners to stakeholders.
6. Berkoordinasi dengan pihak penilai independen, 6. Coordinating with independent assessors, company
manajemen Perseroan dan Organ Dewan Komisaris management, and the Board of Commissioners’
dalam pelaksanaan GCG Assessment Tahun 2024 organs for the 2024 GCG Assessment, particularly
khususnya aspek Dewan Komisaris. regarding the Board of Commissioners' aspects.
7. Berkoordinasi dengan manajemen Perseroan dan 7. Coordinating with company management and the
Organ Dewan Komisaris terkait pembaharuan/ Board of Commissioners’ organs regarding updates
revisi Kebijakan Umum Perseroan yang memerlukan or revisions to the Company’s General Policies that
persetujuan Dewan Komisaris. require the Board of Commissioners' approval.
8. Penyusunan dan penyampaian dokumen fit & proper 8. Preparing and submitting the fit & proper test
test Dewan Komisaris kepada OJK. documents for the Board of Commissioners to OJK.
9. Menyusun dan berkoordinasi dengan manajemen 9. Compiling and coordinating with company
Perseroan dan Organ Dewan Komisaris terkait Laporan management and the Board of Commissioners’
Tahunan Perseroan Tahun 2024 untuk bagian Dewan organs on the 2024 Annual Report for the Board of
Komisaris dan Organ Dewan Komisaris. Commissioners' section.
10. Membantu Dewan Komisaris dalam persiapan dan 10. Assisting the Board of Commissioners in the
pendampingan site visit Proyek Perseroan. preparation and site visit accompaniment for
company projects.
11. Pelaksanaan tugas-tugas keprotokolan dan 11. Executing protocol duties and providing support to
pendampingan terhadap anggota Dewan Komisaris Board of Commissioners members during company
dalam acara-acara Perseroan. events.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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05 Tata Kelola Perusahaan
Good Corporate Governance
KOMITE DI BAWAH DIREKSI
COMMITTEES UNDER THE BOARD OF DIRECTORS
Untuk memastikan pelaksanaan fungsi pengurusan To ensure the effective execution of management
yang efektif dan sesuai prinsip tata kelola perusahaan functions in line with the principles of good corporate
yang baik, Direksi didukung oleh sejumlah komite yang governance, the Board of Directors is supported by
memberikan pandangan independen serta rekomendasi several committees that provide independent views
yang bersifat objektif. Setiap komite memiliki mandat, and objective recommendations. Each committee has
peran, dan ruang lingkup pengawasan yang disesuaikan a mandate, role, and scope of oversight tailored to the
dengan kebutuhan operasional Perseroan. Company’s operational needs.
Hingga akhir tahun 2025, Direksi dibantu sebanyak 10 As of the end of 2025, the Board of Directors was supported
(sepuluh) Komite pendukung, yaitu: by 10 (ten) supporting committees under the Board of
Directors, namely:
1. Komite Risiko dan Kapital; 1. Risk and Capital Committee;
2. Komite Aset dan Liabilitas; 2. Asset and Liability Committee;
3. Komite Pembiayaan; 3. Financing Committee;
4. Komite Pengembangan Proyek dan Jasa Konsultasi; 4. Project Development and Advisory Services
Committee;
5. Komite Penyertaan Modal; 5. Equity Investment Committee;
6. Komite Target; 6. Target Committee;
7. Komite Monitoring; 7. Monitoring Committee;
8. Komite Kebijakan Umum & Prosedur; 8. General Policy & Procedure Committee;
9. Komite Teknologi Sistem Informasi; 9. Information System Technology Committee;
10. Komite Pengelolaan Sumber Daya Manusia. 10. Human Capital Management Committee
Direksi
Board of Directors
Komite Pengembangan Komite Teknologi
Komite Pengelolaan
Proyek dan Jasa Sistem Informasi
Komite Target Komite Monitoring SDM
Konsultasi Information
Target Committee Monitoring Committee HR Management
Project Development & System Technology
Committee
Advisory Committee Committee
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Komite Risiko dan Komite Aset dan Komite Kebijakan Komite Penyertaan
Kapital Liabilitas Umum & Prosedur Komite Pembiayaan Modal
Risk and Capital Aset and Liability General Policy & Financing Committee Equity Investment
Committee Committee Procedure Committee Committee
INDEPENDENSI KOMITE INDEPENDENCE OF COMMITTEES
DI BAWAH DIREKSI UNDER THE BOARD OF DIRECTORS
Seluruh komite di bawah Direksi berkomitmen untuk All committees under the Board of Directors are
menerapkan independensi dalam melaksanakan tugas committed to maintaining independence in carrying out
dan tanggung jawab, dengan meletakkan kepentingan their duties and responsibilities, by prioritizing the interests
Perseroan sebagai yang utama dan menghindari of the Company above all else and avoiding conflicts of
benturan kepentingan serta pengaruh/tekanan dari interest or undue influence/pressure from any party that
pihak manapun yang tidak sesuai dengan peraturan is inconsistent with the Company’s regulations, applicable
Perseroan, perundang-undangan yang berlaku atau laws, or sound corporate governance principles.
564 prinsip-prinsip korporasi yang sehat.
Page 295
PROFIL PEJABAT EKSEKUTIF PROFILE OF EXECUTIVE OFFICIALS
Yuni Iswardi
Kepala Divisi Pengembangan Korporasi & Manajemen Inisiatif
Head of Corporate Development & Initiative Management Division
49 tahun | 49 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Sekretaris dan Anggota Komite Target
• Anggota Komite Teknologi Informasi
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Kebijakan Umum dan Prosedur
Membership within the Committee of
• Secretary and Member of the Target Committee
the Board of Directors • Member of the Information Technology Committee
• Non-Permanent Member of the General Policy and Procedure Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee.
• Magister Manajemen, Universitas Indonesia (2001)
Riwayat Pendidikan • Sarjana Sains, Universitas Gadjah Mada (1999)
Educational Background • Master of Management, University of Indonesia (2001)
• Bachelor of Science, Gadjah Mada University (1999)
Sertifikasi
BSMR Level III Capital Market Supervisory Board (2001)
Certification
• Kepala Divisi Pengembangan Korporasi & Manajemen Inisiatif PT Sarana Multi
Infrastruktur (Persero) (2025-sekarang)
• Team Leader Divisi Pengembangan Korporasi & Manajemen Inisiatif PT Sarana Multi
Infrastruktur (Persero) (2017-2025)
• Menjabat beberapa posisi di Bank Danamon (2015-2017)
Riwayat Pekerjaan • Menjabat beberapa posisi di Bank Mandiri (2002-2011)
Career History • Head of Corporate Development and Initiative Management Division, PT Sarana Multi
Infrastruktur (Persero) (2025–present)
• Team Leader, Corporate Development and Initiative Management Division, PT Sarana
Multi Infrastruktur (Persero) (2017–2025)
• Held several positions at Bank Danamon (2015–2017)
• Held several positions at Bank Mandiri (2002–2011)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DU)
• Knowledge Sharing: Workshop dan Sosialisasi Petunjuk Teknis Tata Kelola Data
• Knowledge Sharing: Knowledge Sharing Hasil Kajian DRE “Perkembangan Kondisi
Ekonomi Indonesia dan Peluang Pembangunan Infrastruktur
Pelatihan Tahun 2025 • In-house Training: Forging Resiliency Through Togetherness in Diversity (DU)
Training in 2025 • Knowledge Sharing: Workshop and Socialization of the Technical Guidelines on Data
Governance
• Knowledge Sharing: Presentation of the Economic Research Division (DRE) Study on
Developments in Indonesia’s Economic Conditions and Opportunities for Infrastructure
Development
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05 Tata Kelola Perusahaan
Good Corporate Governance
Setyo Wibowo
Kepala Divisi Audit Internal
Head of Internal Audit Division
57 tahun | 57 years old
Indonesia | Indonesian
Bekasi, Indonesia
• Anggota Tidak Tetap Komite Risiko dan Kapital
• Anggota Tidak Tetap Komite Teknologi Informasi
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
Membership within the Committee of
• Non-Permanent Member of the Risk and Capital Committee
the Board of Directors • Non-Permanent Member of the Information Technology Committee
• Non-Permanent Member of the General Policy and Procedure Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• Doktor Manajemen Bisnis, Sekolah Bisnis Institut Pertanian Bogor (2022)
• Magister Manajemen, Sekolah Bisnis Institut Pertanian Bogor (2006)
• Diploma IV Sekolah Tinggi Akuntansi Negara, Jakarta (1996)
• Diploma III Sekolah Tinggi Akuntansi Negara, Jakarta (1990
Riwayat Pendidikan
• Doctor of Management of Business, School of Business, Bogor Agricultural University
Educational Background (2022)
• Master of Management, School of Business, Bogor Agricultural University (2006)
• Diploma IV Indonesian State College of Accountancy, Jakarta (1996)
• Diploma III Indonesian State College of Accountancy, Jakarta (1990)
• Certified Internal Auditor (CIA)
• Certified Information System Auditor (CISA)
• Certification in Risk Management Assurance (CRMA)
Sertifikasi • Chartered Accountant (CA)
Certification • Qualified Internal Auditor (QIA)
• BSMR Perbankan Tingkat IV / BSMR Banking Certification Level IV
• Governance, Risk, and Compliance Auditor (GRCA)
• Certified Fraud Examiner (CFE)
• Kepala Divisi Audit Internal PT Sarana Multi Infrastruktur (Persero) (2017–sekarang)
• Internal Audit Group Head PT Perusahaan Pengelola Aset (Persero) (2004–2017)
• General Manager Keuangan dan Dukungan Kerja PT Survai Udara Penas (Persero)
(2013–2015)
• Team Leader for Quality Assurance and Internal Audit Management Badan
Penyertaan Perbankan Nasional (BPPN) (1998–2004)
• Ketua Tim Audit Badan Pengawasan Keuangan dan Pembangunan (1990–1998)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Riwayat Pekerjaan
• Head of Internal Audit Division, PT Sarana Multi Infrastruktur (Persero) (2017-present)
Career History • Internal Audit Group Head at PT Perusahaan Pengelola Aset (Persero) (2004–2017)
• General Manager of Finance and Work Support at PT Survai Udara Penas (Persero)
(2013–2015)
• Team Leader for Quality Assurance and Internal Audit Management at the National
Banking Participation Agency (BPPN) (1998–2004)
• Audit Team Leader at the Financial and Development Supervisory Agency (1990–
1998)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
566
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• Inhouse Training: Masa Persiapan Pensiun Stage 4 Tahun 2025
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DU)
• Inhouse Training: Unit Risk & Compliance Manager
• Inhouse Training: Praktik Penerapan IFRS S1 dan S2 di Indonesia
• Inhouse Training: Workshop Risk Maturity Index (RMI)
• Knowledge Sharing: Pemanfaatan Artificial Intelligence dalam Industri Keuangan
dan Infrastruktur
• Knowledge Sharing: Knowledge Sharing Hasil Kajian DRE “Perkembangan Kondisi
Ekonomi Indonesia dan Peluang Pembangunan Infrastruktur
• Training Certification in Audit Committee Practices (CACP)
• IIA International Conference 2025
Pelatihan Tahun 2025
• In-house Training: Pre-Retirement Preparation Program Stage 4 (2025)
Training in 2025 • In-house Training: Forging Resiliency Through Togetherness in Diversity (DU)
• In-house Training: Unit Risk & Compliance Manager Program
• In-house Training: Practical Implementation of IFRS S1 and S2 in Indonesia
• In-house Training: Workshop on Risk Maturity Index (RMI)
• Knowledge Sharing: Utilization of Artificial Intelligence in the Financial and
Infrastructure Industry
• Knowledge Sharing: Presentation of the Economic Research Division (DRE) Study
on Developments in Indonesia’s Economic Conditions and Opportunities for
Infrastructure Development
• Training Certification in Audit Committee Practices (CACP)
• IIA International Conference 2025
Ramona Harimurti
Kepala Divisi Sekretariat Perusahaan
Head of Corporate Secretary Division
54 tahun | 54 years old
Indonesia | Indonesian
Jakarta, Indonesia
1. Anggota Tidak Tetap Komite Teknologi Informasi
Keanggotaan pada Komite Direksi
2. Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
Membership within the Committee of
1. Non-Permanent Member of the Information Technology Committee
the Board of Directors 2. Non-Permanent Member of the General Policy and Procedure Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee.
Riwayat Pendidikan Sarjana Hukum, Universitas Indonesia (1995)
Educational Background Bachelor of Law, University of Indonesia (1995) PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Sertifikasi BSMR II Global Association of Risk Professionals (GARP) (2006 & 2008)
Certification BSMR II Global Association of Risk Professionals (GARP) (2006 & 2008)
567
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05 Tata Kelola Perusahaan
Good Corporate Governance
1. Kepala Divisi Sekretariat Perusahaan PT Sarana Multi Infrastruktur (Persero) (2017–
sekarang)
2. VP Senior Relationship Manager - Divisi Pembiayaan & Investasi (2013-2017)
3. VP Senior Relationship Manager – Corporate Banking Group, Telecommunication,
Media and Utilities Industry Group PT Bank UOB Indonesia (2011–2013)
4. AVP, Senior Relationship Manager – Financial Institution PT Bank Permata, Tbk (2010-
2011)
5. Senior Manager PT Bank CIMB Niaga, Tbk (2007-2010)
6. Sub Manager PT Bank Finconesia (1997-2007)
7. Legal Officer PT Bali Turtle Island Development (1997)
Riwayat Pekerjaan 8. Legal Staff PT Bali Turtle Island Development (1995-1997)
Career History 1. Head of Corporate Secretariat Division PT Sarana Multi Infrastruktur (Persero) (2017–
present)
2. VP Senior Relationship Manager - Financing & Investment Division (2013-2017)
3. VP Senior Relationship Manager – Corporate Banking Group, Telecommunication,
Media and Utilities Industry Group PT Bank UOB Indonesia (2011–2013)
4. AVP, Senior Relationship Manager – Financial Institution PT Bank Permata, Tbk (2010-
2011)
5. Senior Manager PT Bank CIMB Niaga, Tbk (2007-2010)
6. Sub Manager PT Bank Finconesia (1997-2007)
7. Legal Officer PT Bali Turtle Island Development (1997)
8. Legal Staff PT Bali Turtle Island Development (1995-1997)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
1. Inhouse Training: Masa Persiapan Purnabakti (MPP) Stage 3 Batch 1
2. Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DU)
3. Inhouse Training: Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi,
Penggeledahan dan Penyitaan Batch 1 Tahun 2025
4. Knowledge Sharing: Workshop on the Introduction and Lessons Learned on the
implementation of Taskforce on Nature-related Financial Disclosures (TNFD)
5. Knowledge Sharing: Workshop Optimalisasi Pemanfaatan Copilot AI
6. Knowledge Sharing: Knowledge Sharing Hasil Kajian DRE “Perkembangan Kondisi
Ekonomi Indonesia dan Peluang Pembangunan Infrastruktur
7. Knowledge Sharing: Implementasi Keterbukaan Informasi Publik dan Pembentukan
PPID (Pejabat Pengelola Informasi dan Dokumentasi) di BUMN
Pelatihan Tahun 2025 1. In-house Training: Pre-Retirement Preparation Program (MPP) Stage 3 – Batch 1
Training in 2025 2. In-house Training: Forging Resiliency Through Togetherness in Diversity (DU)
3. In-house Training: Internal Briefing – Introduction to Procedures for Witness
Examination, Search, and Seizure (Batch 1, 2025)
4. Knowledge Sharing: Workshop on the Introduction and Lessons Learned from the
Implementation of the Taskforce on Nature-related Financial Disclosures (TNFD)
5. Knowledge Sharing: Workshop on Optimizing the Utilization of Copilot AI
6. Knowledge Sharing: Presentation of the Economic Research Division (DRE) Study
on Developments in Indonesia’s Economic Conditions and Opportunities for
Infrastructure Development
7. Knowledge Sharing: Implementation of Public Information Disclosure and the
Establishment of PPID (Information and Documentation Management Officer) in
State-Owned Enterprises
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
568
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Franciscus Hasiholan Tamba
Kepala Divisi Sumber Daya Manusia
Head of Human Capital Division
56 tahun | 56 years old
Indonesia
DKI Jakarta, Indonesia | Special Capital Region of Jakarta, Indonesia
• Anggota Tidak Tetap Komite Teknologi Informasi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
• Sekretaris dan Anggota Tetap Komite Pengelolaan Sumber Daya Manusia
Keanggotaan pada Komite Direksi
• Sekretaris dan Anggota Komite Nominasi dan Remunerasi
Membership within the Committee
• Non-Permanent Member of the Information Technology Committee
of the Board of Directors • Non-Permanent Member of the General Policy and Procedure Committee
• Secretary and Permanent Member of the Human Capital Management Committee
• Secretary and Permanent Member of the Nomination and Remuneration Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Please refer to the Composition and Profile section of each Committee.
• Master Finance & Investment Universitas Katolik Atmajaya
Riwayat Pendidikan • Sarjana Computer Science - Institut Teknologi Bandung
Educational Background • Master's Degree in Finance & Investment, Atma Jaya Catholic University
• Bachelor’s Degree in Computer Science, Bandung Institute of Technology (ITB)
• Built a Future Team HR Conference
• Perpajakan (PPH dan Coretax System) / Taxation (Income Tax and Coretax System)
• Certified Human capitals Professional
• Human capitals Training
• Risk Awareness Training
• Private Equity Training
Sertifikasi • Gartner Reimagine HR Conference
Certification • Pelatihan Undang-Undang UUCK UU No.6 / Training on the Law No. 6 concerning Job
Creation
• Leadership Training
• TNA & Development Program Training
• E-Learning & Management Training
• Sertifikasi Manajemen Risiko BSMR / BSMR Risk Management Certification
• Individual Development Plan Training
• Tidak terdapat rangkap jabatan di luar Perseroan
Riwayat Pekerjaan • Sekretaris Komite Nominasi & Remunerasi
Career History • Does not hold concurrent positions outside the Company
• Secretary of the Nomination & Remuneration Committee
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
• Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Teknologi Informasi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
• Sekretaris dan Anggota Tetap Komite Pengelolaan Sumber Daya Manusia
Rangkap Jabatan • Sekretaris Komite Nominasi & Remunerasi
Concurrent Positions • Membership in the Board of Directors’ Committees
• Non-permanent Member of the Information Technology Committee
• Non-permanent Member of the General Policy & Procedure Committee
• Secretary and Permanent Member of the Human Capital Management Committee
• Secretary of the Nomination & Remuneration Committee
569
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05 Tata Kelola Perusahaan
Good Corporate Governance
• Inhouse Training: General Business English
• Inhouse Training: Masa Persiapan Purnabakti (MPP) Stage 3 Batch 1
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DU)
• Inhouse Training: Workshop Risk Maturity Index (RMI)
• Inhouse Training: Optimalisasi Pelaporan Pajak dengan CORETAX
• Inhouse Training: Workshop Knowledge Update Hubungan Industrial
• Knowledge Sharing: Unlocking ESG Values Strategies for Human capitals
• Knowledge Sharing: Workshop on the Introduction and Lessons Learned on the
implementation of Taskforce on Nature-related Financial Disclosures (TNFD)
• Knowledge Sharing: Leading Successful Programs: Using Evidence to Assess Effectiveness
• Knowledge Sharing: Pemanfaatan Artificial Intelligence dalam Industri Keuangan dan
Infrastruktur
• Knowledge Sharing: Banking Knowledge Series: Loan Syndication
• Knowledge Sharing: Literasi Keuangan Digital: Bahaya dan Dampak Pinjaman Online
Ilegal
• Unlocking ESG Values: Strategies for Human capitals
Pelatihan Tahun 2025
• Gartner HR Symposium/Xpo
Training in 2025 • In-house Training: General Business English
• In-house Training: Pre-Retirement Preparation Program (MPP) Stage 3 – Batch 1
• In-house Training: Forging Resiliency Through Togetherness in Diversity (DU)
• In-house Training: Workshop on Risk Maturity Index (RMI)
• In-house Training: Optimization of Tax Reporting Using CORETAX
• In-house Training: Industrial Relations Knowledge Update Workshop
• Knowledge Sharing: Unlocking ESG Values – Strategies for Human capitals
• Knowledge Sharing: Workshop on the Introduction and Lessons Learned from the
Implementation of the Taskforce on Nature-related Financial Disclosures (TNFD)
• Knowledge Sharing: Leading Successful Programs: Using Evidence to Assess Effectiveness
• Knowledge Sharing: Utilization of Artificial Intelligence in the Financial and Infrastructure
Industry
• Knowledge Sharing: Banking Knowledge Series – Loan Syndication
• Knowledge Sharing: Digital Financial Literacy: Risks and Impacts of Illegal Online Lending
• Unlocking ESG Values: Strategies for Human capitals
• Gartner HR Symposium/Xpo
M. Sjafari
Kepala Divisi Kepatuhan
Head of Compliance Division
55 tahun | 55 years old
Indonesia | Indonesian
Jakarta, Indonesia
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Anggota Tetap Komite Pembiayaan
• Anggota Tetap Komite Penyertaan Modal
• Anggota Tetap Komite Monitoring
• Anggota Tidak Tetap Komite Risiko dan Kapital
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
Membership within the Committee
• Permanent Member of the Financing Committee
of the Board of Directors • Permanent Member of the Equity Investment Committee
• Permanent Member of the Monitoring Committee
• Non-Permanent Member of the Risk and Capital Committee
• Non-Permanent Member of the General Policy and Procedure Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• Magister Hukum, Universitas Indonesia (2004)
Riwayat Pendidikan • Sarjana Hukum, Universitas Indonesia (1996)
Educational Background • Master of Law, University of Indonesia (2004)
• Bachelor of Law, University of Indonesia (1996)
Sertifikasi
BSMR IV
Certification
Riwayat Pekerjaan Tidak terdapat rangkap jabatan di luar Perseroan
Career History Does not hold concurrent positions outside the Company
570
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• Anggota Tidak Tetap Komite Risiko dan Kapital
Rangkap Jabatan • Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
Concurrent Positions • Non-permanent Member of the Risk and Capital Committee
• Non-permanent Member of the General Policy & Procedure Committee
• Inhouse Training: Masa Persiapan Purnabakti (MPP) Stage 3 Batch 2
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DMR)
• Inhouse Training: Unit Risk & Compliance Manager
• Inhouse Training: Beyond Compliance in 2025 : Navigate Regulatory Shifts & Gain a
Competitive Edge
• Inhouse Training: URCM Forum - Pemanfaatan AI untuk Penguatan Tata Kelola,
Pengendalian Internal, dan Ketahanan Organisasi
• Inhouse Training: Sharia Executive Class Training - Sharia Business Risk Perspective &
Mitigation
• Inhouse Training: Workshop Penyelarasan Prosedur dan Dokumen Internal Control over
Financial Reporting (ICoFR)
• Inhouse Training: Workshop Compliance Assurance: Penguatan Pengendalian Internal
dan Kepatuhan
• Inhouse Training: Worskhop Pendalaman Aspek Risiko & Penerapan BJR Pada Aktivitas
Penyertaan Modal di PT SMI
• Inhouse Training: Penerapan APU-PPT & PPPSPM DI LEMBAGA JASA KEUANGAN (LJK):
Meningkatkan Kepatuhan Regulasi, Pengendalian Risiko, dan Integritas Sistem Keuangan
• Inhouse Training: Workshop Knowledge Update Hubungan Industrial
• Knowledge Sharing: Pendalaman Aspek Teknis dan Strategis Pengadaan Kapal MR
Tanker & Handysize LPG Carrier
• Literasi Keuangan Digital: Bahaya dan Dampak Pinjaman Online Ilegal
• Sharia Compliance for Islamic Bank
• Internal Control Over Financial Reporting
• National Anti-Fraud Conference 2025
Pelatihan Tahun 2025
• In-house Training: Pre-Retirement Preparation Program (MPP) Stage 3 – Batch 2
Training in 2025 • In-house Training: Forging Resiliency Through Togetherness in Diversity (DMR)
• In-house Training: Unit Risk & Compliance Manager
• In-house Training: Beyond Compliance in 2025: Navigating Regulatory Shifts and Gaining
a Competitive Edge
• In-house Training: URCM Forum – Utilization of AI to Strengthen Governance, Internal
Control, and Organizational Resilience
• In-house Training: Sharia Executive Class Training – Sharia Business Risk Perspective &
Mitigation
• In-house Training: Workshop on the Alignment of Procedures and Documents for Internal
Control over Financial Reporting (IcoFR
• In-house Training: Workshop on Compliance Assurance: Strengthening Internal Control
and Compliance
• In-house Training: Workshop on Risk Aspects and Implementation of BJR in Equity
Investment Activities at PT SMI
• In-house Training: Implementation of AML-CFT & CPFWMD in Financial Services
Institutions (LJK): Enhancing Regulatory Compliance, Risk Control, and Financial System
Integrity
• In-house Training: Industrial Relations Knowledge Update Workshop
• Knowledge Sharing: Technical and Strategic Aspects of Procurement of MR Tanker and
Handysize LPG Carrier Vessels
• Digital Financial Literacy: Risks and Impacts of Illegal Online Lending
• Sharia Compliance for Islamic Banks
• Internal Control over Financial Reporting
• National Anti-Fraud Conference 2025
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
571
Page 302
05 Tata Kelola Perusahaan
Good Corporate Governance
Rintis Sitaresmi
Kepala Divisi Pengelolaan Operasional Pembiayaan
Head of Financing Operational Management Division
55 tahun | 55 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tidak Tetap Komite Aset & Liabilitas
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
• Anggota Tetap Komite Monitoring
• Anggota Tidak Tetap Komite Risiko & Kapital
• Anggota Tetap Komite Target
Keanggotaan pada Komite Direksi
• Anggota Tetap Komite Teknologi Informasi
Membership within the Committee
• Non-Permanent Member of the Asset and Liability Committee
of the Board of Directors • Non-Permanent Member of the General Policy and Procedure Committee
• Permanent Member of the Monitoring Committee
• Non-Permanent Member of the Risk and Capital Committee
• Permanent Member of the Target Committee
• Permanent Member of the Information Technology Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee.
• Magister Manajemen, Universitas Gadjah Mada (1997)
Riwayat Pendidikan • Sarjana Teknik, Universitas Gadjah Mada (1995)
Educational Background • Master in Management from Gadjah Mada University (1997)
• Bachelor from Engineering Faculty of Gadjah Mada University (1995)
• BSMR Level 5
• BSMR Level 4, Badan Sertifikasi Manajemen Risiko, Jakarta, Indonesia (2022)
• PPP Value for Money and Cost Benefit Analysis, Institute for Public Private Partnership
(IP3), Washington, USA (2019)
• PPP Project Finance & Infrastructure, Euromoney Learning Solutions, London, Inggris (2016)
• Project to Develop Medium- and Long-Term Geothermal Development Policy in
Indonesia, Japan International Cooperation Agency (JICA) Kyushu International Center,
Fukuoka, Japan (2015)
• IFC Infra Advisory, International Finance Corporation, Manila, Philippines (2012)
• PPP in Road & Transport Infrastructure, Fleming Gulf, New Delhi, India (2011)
Sertifikasi
• BSMR Level 5
Certification • BSMR Level 4, Badan Sertifikasi Manajemen Risiko, Jakarta, Indonesia (2022)
• PPP Value for Money and Cost Benefit Analysis, Institute for Public Private Partnership
(IP3), Washington, USA (2019)
• PPP Project Finance & Infrastructure, Euromoney
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Learning Solutions, London, Inggris (2016)
• Project to Develop Medium- and Long-Term Geothermal Development Policy in
Indonesia, Japan International Cooperation Agency (JICA) Kyushu International Center,
Fukuoka, Japan (2015)
• IFC Infra Advisory, International Finance Corporation, Manila, Philippines (2012)
• PPP in Road & Transport Infrastructure, Fleming Gulf, New Delhi, India (2011)
572
Page 303
• Kepala Divisi Pengelolaan Operasional Pembiayaan PT Sarana Multi Infrastruktur
(Persero) (2022–sekarang)
• Kepala Divisi Pembiayaan dan Investasi 1 PT Sarana Multi Infrastruktur (Persero) (2015–
2022)
• Team Leader pada Divisi Pembiayaan dan Investasi 1 PT Sarana Multi Infrastruktur
(Persero) (2013–2015)
• Relationship Manager pada Divisi Pembiayaan dan Investasi 1 PT Sarana Multi
Infrastruktur (Persero), (2010–2013)
• Analis Kredit dan Relationship Manager pada Divisi Korporasi PT Bank Negara Indonesia
Riwayat Pekerjaan (Persero) Tbk (1998–2009)
Career History • Head of Financing Operations Management Division of PT Sarana Multi Infrastruktur
(Persero) (2022–present)
• Head of Financing and Investment Division 1 of PT Sarana Multi Infrastruktur (Persero)
(2015–2022)
• Team Leader in Financing and Investment Division 1 of PT Sarana Multi Infrastruktur
(Persero) (2013–2015)
• Relationship Manager in Financing and Investment Division 1 of PT Sarana Multi
Infrastruktur (Persero), (2010–2013)
• Credit Analyst and Relationship Manager in the Corporate Division of PT Bank Negara
Indonesia (Persero) Tbk (1998– 009)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• Inhouse Training: Masa Persiapan Purnabakti (MPP) Stage 3 Batch 1
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DOK)
• Inhouse Training: Sharia Executive Class Training - Sharia Business Risk Perspective &
Mitigation
• Inhouse Training: Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi,
Penggeledahan dan Penyitaan Batch 1 Tahun 2025
• Inhouse Training: Optimalisasi Pelaporan Pajak dengan CORETAX
• Inhouse Training: Worskhop Pendalaman Aspek Risiko & Penerapan BJR Pada Aktivitas
Pelatihan Tahun 2025 Penyertaan Modal di PT SMI
Training in 2025 • Inhouse Training: Workshop Refreshment Agunan dan Asuransi terkait Kegiatan
Pembiayaan
• Inhouse Training: Pembekalan Upaya Pencegahan Kredit/Pembiayaan Bermasalah
Melalui Analisa Kredit & Penerapan Strategi dari Aspek Non-Financial (Secara End to End)
• Knowledge Sharing: Banking Knowledge Series: Loan Syndication
• Training Certification in Audit Committee Practices (CACP)
• Inaugurasi Gelar Certified Risk Management (CRM) dan Program Pemeliharaan
Sertifikasi Manajemen Risiko J7
• Private Equity Masterclass
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
573
Page 304
05 Tata Kelola Perusahaan
Good Corporate Governance
Benedictus Pudji Hartono
Kepala Divisi Pembiayaan Berkelanjutan
Head of Sustainable Financing Division
55 tahun | 55 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tidak Tetap Komite Aset & Liabilitas
• Anggota Tidak Tetap Komite Teknologi Informasi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
• Anggota Tetap Komite Pembiayaan
• Anggota Tetap Komite Monitoring
• Anggota Tetap Komite Target
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Risiko & Kapital
Membership within the Committee
• Non-Permanent Member of the Asset and Liability Committee
of the Board of Directors • Non-Permanent Member of the Information Technology Committee
• Non-Permanent Member of the General Policy and Procedure Committee
• Permanent Member of the Financing Committee
• Permanent Member of the Monitoring Committee
• Permanent Member of the Target Committee
• Non-Permanent Member of the Risk and Capital Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee.
• Magister Fakultas Ekonomi dan Bisnis Universitas Gadjah Mada (2001)
• Sarjana Fakultas Ekonomi dan Bisnis Universitas Gadjah Mada (1996)
• Sarjana dari Universitas Atma Jaya, Yogyakarta
Riwayat Pendidikan • Master of Management from Economics and Business Faculty of Gadjah Mada University
Educational Background (2001)
• Bachelor of Management from Economics and Business Faculty of Gadjah Mada
University (1996)
• Bachelor’s Degree from Atma Jaya University, Yogyakarta
Sertifikasi
BSMR IV
Certification
• Kepala Divisi Pembiayaan Berkelanjutan PT Sarana Multi Infrastruktur (Persero) (2015 –
sekarang)
• PT Mark Kapital (2012– 015)
Riwayat Pekerjaan • Bank CIMB Niaga (dahulu Bank Niaga) (1997–2011)
Career History • Head of Sustainable Financing Division of PT Sarana Multi Infrastruktur (Persero) (2015 –
present)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• PT Mark Kapital (2012–2015)
• Bank CIMB Niaga (formerly Bank Niaga) (1997–2011)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• Inhouse Training: Masa Persiapan Purnabakti (MPP) Stage 3 Batch 2
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DPI)
• Inhouse Training: Workshop Produk Hybrid Financing
• Inhouse Training: Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi,
Penggeledahan dan Penyitaan Batch 1 Tahun 2025
• Inhouse Training: Pembekalan Upaya Pencegahan Kredit/Pembiayaan Bermasalah
Melalui Analisa Kredit & Penerapan Strategi dari Aspek Non-Financial (Secara End to
Pelatihan Tahun 2025
End)
Training in 2025 • Inhouse Training: Workshop Knowledge Update Hubungan Industrial
• Knowledge Sharing: Banking Knowledge Series: Treasury Product Knowledge
• Knowledge Sharing: Knowledge Sharing Hasil Kajian DRE “Perkembangan Kondisi
Ekonomi Indonesia dan Peluang Pembangunan Infrastruktur
• Knowledge Sharing: Tourism and Airport Operations in Indonesia: Current Condition and
its Prospect (Special Case in Heritage Tourism)
• Renewable Energy and Sustainable Technology
574
Page 305
Adi Pranasatya
Kepala Divisi Jasa Konsultasi
Head of Advisory Services Division
50 tahun | 50 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tidak Tetap Komite Teknologi Informasi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
• Anggota Tetap Komite Target
• Anggota Tetap Komite Pengembangan Proyek & Jasa Konsultasi
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Risiko & Kapital
Membership within the Committee of the
• Non-Permanent Member of the Information Technology Committee
Board of Directors • Non-Permanent Member of the General Policy and Procedure Committee
• Permanent Member of the Target Committee
• Permanent Member of the Project Development and Advisory Services Committee
• Non-Permanent Member of the Risk and Capital Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• Master of Commerce in Accounting and Finance Macquarie University, Sydney,
Australia (2004)
Riwayat Pendidikan • Sarjana Ekonomi Universitas Trisakti (2000)
Educational Background • Master of Commerce in Accounting and Finance, Macquarie University, Sydney,
Australia (2004)
• Bachelor’s Degree in Economics, Trisakti University (2000)
• Capital Market Training and Education
• Sertifikasi Manajemen Risiko BSMR Level III
• Sertifikasi Manajemen Risiko BSMR Level II
• Sertifikasi Manajemen Risiko BSMR Level I
• Various Internal training in SCB covering various banking skills and knowledge which
includes: International Trade, Associate Programme, Credit Skill Analysis, Core Credit
Sertifikasi Analysis, Operational Risk, HSE
Certification • Capital Market Training and Education
• BSMR Risk Management Certification Level III
• BSMR Risk Management Certification Level II
• BSMR Risk Management Certification Level I
• Various internal training at SCB covering diverse banking skills and knowledge,
including International Trade, Associate Programme, Credit Skill Analysis, Core Credit
Analysis, Operational Risk, and HSE.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
575
Page 306
05 Tata Kelola Perusahaan
Good Corporate Governance
• Kepala Divisi Jasa Konsultasi (September 2024–sekarang)
• Team Leader Divisi Pembiayaan Berkelanjutan (2022–Agustus 2024)
• Team Leader Divisi Pembiayaan & Investasi dan Deputy Coordinator Program Germ
(2020–2022)
• Kepala Divisi Pembiayaan Berkelanjutan PT Sarana Multi Infrastruktur (Persero)
(2018–2020)
• Team Leader Divisi Pembiayaan & Investasi 3 (2015–2018)
• Associate Director (Team Lead of Client Coverage Group of Global Corporates –
Standard Chartered Bank
• Associate of Client Coverage Group – Standard Chartered Bank
• Account Officer at Commercial Division – PT Bank Bukopin
• Assistant Manager Section Head Project & Maintenance – PT Bank Tiara Asia
• Associate of Project Finance & Privatization Department – PT Pricewaterhouse
Cooper FAS
Riwayat Pekerjaan • Assistant Architect – PT Prima Design Engineeering Consultant
Career History • Head of Advisory Services Division (September 2024–Present)
• Team Leader, Sustainable Financing Division (2022–August 2024)
• Team Leader, Financing & Investment Division and Deputy Coordinator of the GERM
Program (2020–2022)
• Head of Sustainable Financing Division, PT Sarana Multi Infrastruktur (Persero) (2018–
2020)
• Team Leader, Financing & Investment Division 3 (2015–2018)
• Associate Director, Team Lead of Client Coverage Group – Global Corporates,
Standard Chartered Bank
• Associate, Client Coverage Group, Standard Chartered Bank
• Account Officer, Commercial Division, PT Bank Bukopin
• Assistant Manager, Section Head of Project & Maintenance, PT Bank Tiara Asia
• Associate, Project Finance & Privatization Department, PT PricewaterhouseCoopers
FAS
• Assistant Architect, PT Prima Design Engineering Consultant
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DPI)
• Inhouse Training: Workshop Produk Hybrid Financing
• Knowledge Sharing: Banking Knowledge Sharing: Trade Finance
• Knowledge Sharing: Banking Knowledge Series: Loan Syndication
• Knowledge Sharing ESG Series: ESG Fundamentals
• Knowledge Sharing: Knowledge Sharing Hasil Kajian DRE “Perkembangan Kondisi
Ekonomi Indonesia dan Peluang Pembangunan Infrastruktur
• Private Equity Masterclass
• In-house Training: Pre-Retirement Preparation Program (MPP) Stage 3 – Batch 2
• In-house Training: Forging Resiliency Through Togetherness in Diversity (DPI)
• In-house Training: Hybrid Financing Product Workshop
Pelatihan Tahun 2025 • In-house Training: Internal Briefing – Introduction to Procedures for Witness
Training in 2025 Examination, Search, and Seizure (Batch 1, 2025)
• In-house Training: Preventive Measures for Non-Performing Loans/Financing through
Credit Analysis and Strategy Implementation from Non-Financial Aspects (End-to-
End)
• In-house Training: Industrial Relations Knowledge Update Workshop
• Knowledge Sharing: Banking Knowledge Series – Treasury Product Knowledge
• Knowledge Sharing: Presentation of the Economic Research Division (DRE) Study
on Developments in Indonesia’s Economic Conditions and Opportunities for
Infrastructure Development
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Knowledge Sharing: Tourism and Airport Operations in Indonesia: Current Conditions
and Prospects (Special Case in Heritage Tourism)
• Renewable Energy and Sustainable Technology
576
Page 307
Erdian Dharmaputra
Kepala Divisi Pembiayaan Publik I
Head of Public Financing Division I
49 tahun | 49 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tidak Tetap Komite Aset & Liabilitas
• Anggota Tidak Tetap Komite Teknologi Informasi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
• Anggota Tetap Komite Pembiayaan
• Anggota Tetap Komite Monitoring
Keanggotaan pada Komite Direksi
• Anggota Tetap Komite Target
Membership within the Committee of the
• Non-Permanent Member of the Asset and Liability Committee
Board of Directors • Non-Permanent Member of the Information Technology Committee
• Non-Permanent Member of the General Policy and Procedure Committee
• Permanent Member of the Financing Committee
• Permanent Member of the Monitoring Committee
• Permanent Member of the Target Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• Master of Economic University of Sydney (2007)
Riwayat Pendidikan • Sarjana Hubungan Internasional Universitas Padjadjaran (2000)
Educational Background • Master of Economic, University of Sydney (2007)
• Bachelor of International Relations, Padjajaran University (2000)
Sertifikasi
BSMR II
Certification
• Pusat Investasi Pemerintah, Kementerian Keuangan Republik Indonesia (2011-2015)
• Subdit Kredit Program Direktorat Sistem Manajemen Investasi, Ditjen
Perbendaharaan Kementerian Keuangan Republik Indonesia (2007-2011)
• Bidang Penelaahan Anggaran 2 Kanwil DJPB Kementerian Keuangan Republik
Indonesia (2004- 2005)
• Direktorat Dana Luar Negeri, DJPB Kementerian Keuangan Republik Indonesia (2002-
2004)
Riwayat Pekerjaan • Government Investment Center, Ministry of Finance of the Republic of Indonesia
Career History (2011-2015)
• Credit Program Sub-Directorate of the Directorate of Investment Management
Systems, Directorate General of Treasury, Ministry of Finance of the Republic of
Indonesia (2007-2011)
• Budget Review Division 2, Directorate of Treasury, Regional Office, Ministry of Finance
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
of the Republic of Indonesia (2004-2005)
• Directorate of Foreign Funds, Directorate of Treasury, Ministry of Finance of the
Republic of Indonesia (2002-2004)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• E-learning: Indonesia Carbon Trading Handbook
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DPPPP)
• Inhouse Training: Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi,
Penggeledahan dan Penyitaan Batch 1 Tahun 2025
• Training & Sertifikasi dan Resertifikasi BSMR Jenjang 5
• Training Sertifikasi BSMR Jenjang 6
Pelatihan Tahun 2025 • Peluang Pembiayaan dalam Sistem Sanitasi Permukiman
Training in 2025 • E-learning: Indonesia Carbon Trading Handbook
• In-house Training: Forging Resiliency Through Togetherness in Diversity (DPPPP)
• In-house Training: Internal Briefing – Introduction to Procedures for Witness
Examination, Search, and Seizure (Batch 1, 2025)
• Training and Certification and Recertification of BSMR Level 5
• Certification Training BSMR Level 6
• Financing Opportunities in the Urban Sanitation System
577
Page 308
05 Tata Kelola Perusahaan
Good Corporate Governance
Arief Subekti
Kepala Divisi Usaha Syariah
Head of Sharia Business Division
48 tahun | 48 years old
Indonesia | Indonesian
Jakarta, Indonesia
1. Anggota Tidak Tetap Komite Aset & Liabilitas
2. Anggota Tidak Tetap Komite Teknologi Informasi
3. Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
4. Anggota Tetap Komite Pembiayaan
5. Anggota Tetap Komite Monitoring
Keanggotaan pada Komite Direksi
6. Anggota Tetap Komite Target
Membership within the Committee of the
1. Non-Permanent Member of the Asset and Liability Committee
Board of Directors 2. Non-Permanent Member of the Information Technology Committee
3. Non-Permanent Member of the General Policy and Procedure Committee
4. Permanent Member of the Financing Committee
5. Permanent Member of the Monitoring Committee
6. Permanent Member of the Target Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee.
• Master Business of Administration, Institut Teknologi Bandung (2005)
Riwayat Pendidikan • Sarjana Teknik, Universitas Brawijaya, Malang (2003)
Educational Background • Master Business of Administration, Bandung Institute of Technology (2005)
• Bachelor of Engineering, Brawijaya University, Malang (2003)
• Level 4 – Risk Management Banking Certification (2022)
• London School of Project Finance Euromoney (2022)
• Executive Development Program (EDP) PT Bank Maybank Indonesia Tbk (2019)
• Various Advance Training/Workshop on Financial Analysis & Credit Structuring (2006
- 2019)
• Level 3 – Risk Management Banking Certification (2014)
• Level 2 – Risk Management Banking Certification (2012)
• Credit Officer Training Program; Lembaga Manajemen Universitas Indonesia – BNI
(2006)
• Credit Officer Training Program; University of Indonesia Management Institute – BNI
Sertifikasi (2006)
Certification • Level 4 – Risk Management Banking Certification (2022)
• London School of Project Finance Euromoney (2022)
• Executive Development Program (EDP) – PT Bank Maybank Indonesia Tbk (2019)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Various Advance Training/Workshop on Financial Analysis & Credit Structuring (2006
- 2019)
• Level 3 – Risk Management Banking Certification (2014)
• Level 2 – Risk Management Banking Certification (2012)
• Credit Officer Training Program; Lembaga Manajemen Universitas Indonesia – BNI
(2006)
• Credit Officer Training Program; University of Indonesia Management Institute – BNI
(2006)
578
Page 309
• Kepala Divisi Usaha Syariah PT Sarana Multi Infrastruktur (Persero) (2021-sekarang)
• Senior Vice President – Head Relationship Management – PT. Bank Maybank
Indonesia Tbk (2015-2021)
• Vice President – Head of Financial Institution and Multi National Corporation (MNC)
–Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU) – Jakarta Branch (2013-2015)
• Vice President – Client Coverage for State Owned Entreprises, Infrastructure &
Diversified Industries – PT Bank ANZ Indonesia (2011-2013)
• Senior Relationship Manager, Corporate Banking Agrobased Group, Bank Mandiri
(Persero) Tbk (200 – 011)
• Corporate Credit Analyst, Corporate Division, Bank BNI (Persero) Tbk (2006–2009)
• Research Assistant, MBA Institut Teknologi Bandung (2006)
Riwayat Pekerjaan
• Head of Sharia Business Division of PT Sarana Multi Infrastruktur (Persero)
Career History (2021-present)
• Senior Vice President – Head Relationship Management – PT. Bank Maybank
Indonesia Tbk (2015-2021)
• Vice President – Head of Financial Institution and Multi National Corporation (MNC)
–Bank of Tokyo-Mitsubishi UFJ Ltd (BTMU) – Jakarta Branch (2013-2015)
• Vice President – Client Coverage for State Owned Entreprises, Infrastructure &
Diversified Industries – PT Bank ANZ Indonesia (2011-2013)
• Senior Relationship Manager, Corporate Banking Agrobased Group, Bank Mandiri
(Persero) Tbk (2009–2011)
• Corporate Credit Analyst, Corporate Division, Bank BNI (Persero) Tbk (2006–2009)
• Research Assistant, MBA Bandung Institute of Technology (2006)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• Inhouse Training: Workshop Produk Hybrid Financing
• Inhouse Training: Sharia Executive Class Training - Sharia Business Risk Perspective
& Mitigation
• Inhouse Training: Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi,
Penggeledahan dan Penyitaan Batch 1 Tahun 2025
• Inhouse Training: Pembekalan Upaya Pencegahan Kredit/Pembiayaan Bermasalah
Melalui Analisa Kredit & Penerapan Strategi dari Aspek Non-Financial (Secara End to
End)
• Knowledge Sharing: Workshop: Overview Transaksi Syariah dan Langkah Persiapan
Pelatihan Tahun 2025 Implementasi atas PSAK 413
Training in 2025 • In-house Training: Hybrid Financing Product Workshop
• In-house Training: Sharia Executive Class Training – Sharia Business Risk Perspective
& Mitigation
• In-house Training: Internal Briefing – Introduction to Procedures for Witness
Examination, Search, and Seizure (Batch 1, 2025)
• In-house Training: Preventive Measures for Non-Performing Loans/Financing through
Credit Analysis and Strategy Implementation from Non-Financial Aspects (End-to-
End)
• Knowledge Sharing: Workshop – Overview of Sharia Transactions and Preparatory
Steps for the Implementation of PSAK 413
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
579
Page 310
05 Tata Kelola Perusahaan
Good Corporate Governance
I Kadek Dian Sutrisna Artha
Kepala Divisi Riset Ekonomi
Head of Economic Research Division
47 tahun | 47 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tidak Tetap Komite Teknologi Informasi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Target
Membership within the Committee of
• Non-Permanent Member of the Information Technology Committee
the Board of Directors • Non-Permanent Member of the General Policy and Procedure Committee
• Permanent Member of the Target Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• PhD in Economics University of Groningen, Netherlands (2007)
• Master Program in Economics, Vrije Universiteit, Amsterdam, Netherlands (2005)
Riwayat Pendidikan • Sarjana Ekonomi Universitas Indonesia (1996)
Educational Background • PhD in Economics University of Groningen, Netherlands (2007)
• Master Program in Economics, Vrije Universiteit, Amsterdam, Netherlands (2005)
• Bachelor from Economic Faculty of University of Indonesia (1996)
Sertifikasi
BSMR II
Certification
• Chief Economist PT Sarana Multi Infrastruktur (2019 – sekarang)
• Lecturer at Amsterdam University of Applied Science (AUAS), Amsterdam (2018 –
2019)
• Lecturer at PPLE, University of Amsterdam (2017 – 2019)
• Lecturer at the Faculty of Economics and Business, University of Indonesia (2007 –
2015)
• Head of the Institute for Economic and Social Research, the Faculty of Economics,
University of Indonesia (LPEM-FEBUI) (2014 – 2015)
Riwayat Pekerjaan • Regional Economist of the Ministry of Finance, the Republic of Indonesia (2014 – 2015)
Career History • Chief Economist of PT Sarana Multi Infrastruktur (2019 – sekarang)
• Lecturer at Amsterdam University of Applied Science (AUAS), Amsterdam (2018 –
2019)
• Lecturer at PPLE, University of Amsterdam (2017 – 2019)
• Lecturer at the Faculty of Economics and Business, University of Indonesia (2007 –
2015)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Head of the Institute for Economic and Social Research, the Faculty of Economics,
University of Indonesia (LPEMFEBUI) (2014 – 2015)
• Regional Economist of the Ministry of Finance, the Republic of Indonesia (2014 – 2015)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• E-learning: How Beloved Bosses Keep Top Talent
• Inhouse Training: Workshop Program Creditworthiness Academy Tahun 2025
• Inhouse Training: Workshop GTAP dan Spatial Econometrics
• Knowledge Sharing: Leading Successful Programs: Using Evidence to Assess
Effectiveness
Pelatihan Tahun 2025 • Knowledge Sharing: Mini Workshop Mitigasi Bencana Gempa Megathrust
Training in 2025 • E-learning: How Beloved Bosses Keep Top Talent
• In-house Training: Creditworthiness Academy Program Workshop 2025
• In-house Training: GTAP and Spatial Econometrics Workshop
• Knowledge Sharing: Leading Successful Programs: Using Evidence to Assess
Effectiveness
• Knowledge Sharing: Mini Workshop on Megathrust Earthquake Disaster Mitigation
580
Page 311
Delano Dalo
Kepala Divisi Pembiayaan Publik 2
Head of Public Financing Division 2
43 tahun | 43 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tidak Tetap Komite Teknologi Informasi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
• Anggota Tetap Komite Target
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Risiko & Kapital
Membership within the Committee of
• Non-Permanent Member of the Information Technology Committee
the Board of Directors • Non-Permanent Member of the General Policy and Procedure Committee
• Permanent Member of the Target Committee
• Non-Permanent Member of the Risk & Capital Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
Riwayat Pendidikan Sarjana Hukum, Universitas Padjadjaran (2006)
Educational Background Bachelor of Law, Padjadjaran University (2006)
Sertifikasi
Certified PPP Professional (CP3P)
Certification
• Kepala Divisi Pengembangan Proyek PT Sarana Multi Infrastruktur (Persero) (2020–
sekarang)
• Project Director – PPP Project Development PT Sarana Multi Infrastruktur (Persero)
(2017–2020)
• Project Manager – PPP Project Development PT Sarana Multi Infrastruktur (Persero)
(2015–2017)
• Team Leader – Legal Division PT Sarana Multi Infrastruktur (Persero) (2011–2015)
• Individual Lawyer (2008–2010) • Associate, Irawati Hermawan & Partners Law Firm
• Business Law Tutor, School of Business & Management ITB (2006-2010)
Riwayat Pekerjaan
• Head of Project Development Division of PT Sarana Multi Infrastruktur (Persero),
Career History (2020-Present)
• Project Director – PPP Project Development of PT Sarana Multi Infrastruktur (Persero)
(2017 – 2020)
• Project Manager – PPP Project Development of PT Sarana Multi Infrastruktur (Persero)
(2015 – 2017)
• Team Leader – Legal Division of PT Sarana Multi Infrastruktur (Persero) (2011–2015)
• Individual Lawyer (2008–2010)
• Associate, Irawati Hermawan & Partners Law Firm
• Business Law Tutor, School of Business & Management ITB (2006-2010)
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• Inhouse Training: Peningkatan Pemahaman Analisis Bisnis, Market Sektoral serta
Prinsip Dasar Perjanjian KPBU dalam Perspektif Pengembangan Infrastruktur di
Indonesia
• Inhouse Training: Peningkatan Pemahaman Analisis Bisnis, Market Sektoral serta
Prinsip Dasar Perjanjian KPBU dalam Perspektif Pengembangan Infrastruktur di
Pelatihan Tahun 2025 Indonesia Batch 2
Training in 2025 • In-house Training: Enhancing Understanding of Business Analysis, Sectoral Market
Analysis, and the Basic Principles of PPP Agreements from the Perspective of
Infrastructure Development in Indonesia
• In-house Training: Enhancing Understanding of Business Analysis, Sectoral Market
Analysis, and the Basic Principles of PPP Agreements from the Perspective of
Infrastructure Development in Indonesia – Batch 2
581
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05 Tata Kelola Perusahaan
Good Corporate Governance
Rikka Dwi Rejeki
Kepala Divisi Pengembangan Proyek
Head of Project Development Division
42 tahun | 42 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tidak Tetap Komite Teknologi Informasi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
• Anggota Tetap Komite Target
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Risiko & Kapital
Membership within the Committee of the
• Non-Permanent Member of the Information Technology Committee
Board of Directors • Non-Permanent Member of the General Policy and Procedure Committee
• Permanent Member of the Target Committee
• Non-Permanent Member of the Risk & Capital Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• Magister Perencanaan dan Kebijakan Publik, Universitas Indonesia (2012)
Riwayat Pendidikan • Sarjana Teknik, Institut Teknologi Bandung (2006)
Educational Background • Master of Public Planning and Policy, University of Indonesia (2012)
• Bachelor of Engineering, Bandung Institute of Technology (2006)
Sertifikasi
CP3P Public Private Partnership
Certification
• Kepala Divisi Pengembangan Proyek PT Sarana Multi Infrastruktur (Persero) (Februari
2025-sekarang)
• Team Leader Divisi Pengembangan Proyek PT Sarana Multi Infrastruktur (Persero)
(2015–2025)
• Technical and Project Management for Project Development PT Sarana Multi
Infrastruktur (Persero) (2012–2015)
• Assistant Research Activities for PPP Project, ERIA (2009–2012)
• Project Control Engineer and Geotechnical Engineer PT Waskita Karya (2008–2009)
• Geotechnical Engineer, Geotechnical Laboratory, ITB (2006–2008)
Riwayat Pekerjaan
• Head of Project Development Division, PT Sarana Multi Infrastruktur (Persero)
Career History (February 2025–present)
• Team Leader, Project Development Division, PT Sarana Multi Infrastruktur (Persero)
(2015–2025)
• Technical and Project Management for Project Development, PT Sarana Multi
Infrastruktur (Persero) (2012 – 2015)
• Assistant Research Activities for PPP Projects, ERIA (2009 – 2012)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Project Control Engineer and Geotechnical Engineer, PT Waskita Karya (2008 – 2009)
• Geotechnical Engineer, Geotechnical Laboratory, Bandung Institute of Technology
(2006 – 2008)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• Inhouse Training: Capacity Building Hydropower Project Development
• Inhouse Training: Peningkatan Pemahaman Analisis Bisnis, Market Sektoral serta
Prinsip Dasar Perjanjian KPBU dalam Perspektif Pengembangan Infrastruktur di
Indonesia
• Inhouse Training: Peningkatan Pemahaman Analisis Bisnis, Market Sektoral serta
Prinsip Dasar Perjanjian KPBU dalam Perspektif Pengembangan Infrastruktur di
Indonesia Batch 2
• Inhouse Training: Workshop Knowledge Update Hubungan Industrial
Pelatihan Tahun 2025 • Study Tour Jepang JESC
Training in 2025 • In-house Training: Capacity Building in Hydropower Project Development
• In-house Training: Enhancing Understanding of Business Analysis, Sectoral Market
Analysis, and the Basic Principles of PPP Agreements from the Perspective of
Infrastructure Development in Indonesia
• In-house Training: Enhancing Understanding of Business Analysis, Sectoral Market
Analysis, and the Basic Principles of PPP Agreements from the Perspective of
Infrastructure Development in Indonesia – Batch 2
• In-house Training: Industrial Relations Knowledge Update Workshop
• Study Tour to Japan – JESC
582
Page 313
Syahrial Novianta
Kepala Divisi Akuntansi & Administrasi Aset
Head of Accounting & Asset Administration Division
57 tahun | 57 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tetap Komite Monitoring
• Anggota Tidak Tetap Komite Aset & Liabilitas
• Anggota Tetap Komite Teknologi Informasi
• Anggota Tetap Komite Target
• Anggota Tidak Tetap Komite Risiko & Kapital
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Kebijakan Umum dan Prosedur
Membership within the Committee of
• Permanent Member of the Monitoring Committee
the Board of Directors • Non-Permanent Member of the Asset and Liability Committee
• Permanent Member of the Information Technology Committee
• Permanent Member of the Target Committee
• Non-Permanent Member of the Risk and Capital Committee
• Non-Permanent Member of the General Policy and Procedure Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• Magister Manajemen Keuangan, Bina Nusantara Business School (2008)
• Sarjana Ekonomi Akuntansi - Universitas Indonesia (2001)
Riwayat Pendidikan • Sekolah Tinggi Akuntansi Negara (STAN) (1990)
Educational Background • Master of Financial Management, Bina Nusantara Business School (2008)
• Bachelor of Economics in Accounting – University of Indonesia (2001)
• Indonesian State College of Accountancy, Jakarta (STAN) (1990)
• Chartered Accountant (CA)
Sertifikasi
• BSMR IV
Certification • Chartered Financial Analyst (CFA)
• Head of Accounting and Asset Administration Division PT Sarana Multi Infrastruktur
(Persero) (2009–sekarang)
• Indonesia Eximbank (Lembaga Pembiayaan Ekspor Indonesia/LPEI) (2009-2013)
• Senior Manager Audit PT Perusahaan Pengelola Aset (Persero) (2004–2009)
• Audit Team Leader/Audit Team Member) Badan Pengawasan Keuangan dan
Riwayat Pekerjaan
Pembangunan (BPKP) (1990–2004)
Career History • Head of Accounting and Asset Administration Division of PT Sarana Multi Infrastruktur
(Persero) (2009–present)
• Indonesia Eximbank (Indonesian Export Financing Company/LPEI), (2009-2013)
• Senior Manager Audit of PT Perusahaan Pengelola Aset (Persero) (2004 – 2009)
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
• Audit Team Leader, Development Finance Controller (BPKP), (1990-2004)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
583
Page 314
05 Tata Kelola Perusahaan
Good Corporate Governance
• Inhouse Training: Masa Persiapan Pensiun Stage 4 Tahun 2025
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DOK)
• Inhouse Training: Refreshment Aplikasi ARRA APOLO
• Inhouse Training: Praktik Penerapan IFRS S1 dan S2 di Indonesia
• Inhouse Training: Optimalisasi Pelaporan Pajak dengan CORETAX
• Knowledge Sharing: Knowledge Sharing Advanced International Corporate Finance
• Knowledge Sharing: Mini Workshop Mitigasi Bencana Gempa Megathrust
• Knowledge Sharing ESG Series: ESG Fundamentals
• Knowledge Sharing: Workshop: Overview Transaksi Syariah dan Langkah Persiapan
Implementasi atas PSAK 413
• Training Certified Management Accountants (CMA)
• Internal Control over Financial Reporting (ICORF)
• Training & Certification in Audit Committee Practices
Pelatihan Tahun 2025 • IIA International Conference 2025
Training in 2025 • In-house Training: Pre-Retirement Preparation Program Stage 4 (2025)
• In-house Training: Forging Resiliency Through Togetherness in Diversity (DOK)
• In-house Training: ARRA APOLO Application Refreshment
• In-house Training: Practical Implementation of IFRS S1 and S2 in Indonesia
• In-house Training: Optimization of Tax Reporting Using CORETAX
• Knowledge Sharing: Advanced International Corporate Finance
• Knowledge Sharing: Mini Workshop on Megathrust Earthquake Disaster Mitigation
• Knowledge Sharing ESG Series: ESG Fundamentals
• Knowledge Sharing: Workshop – Overview of Sharia Transactions and Preparatory
Steps for the Implementation of PSAK 413
• Training: Certified Management Accountants (CMA)
• Internal Control over Financial Reporting (ICORF)
• Training and Certification in Audit Committee Practices
• IIA International Conference 2025
Cipto Adi Utomo
Kepala Divisi Umum & Pengadaan
Head of General Affairs & Procurement Division
56 tahun | 56 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Teknologi Informasi
Membership within the Committee of
• Non-Permanent Member of the General Policy and Procedure Committee
the Board of Directors • Non-Permanent Member of the Information Technology Committee
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
Sarjana Teknik Arsitektur, Universitas Katolik Soegijopranoto Semarang, Jawa Tengah
Riwayat Pendidikan (1988)
Educational Background Bachelor of Architecture, Soegijapranata Catholic University Semarang, Central Java
(1988)
• Property Management – Intermediate
• Certified Human capitals Program
Sertifikasi
• IT Governance with Cobit 5
Certification • BSMR Level 1
• BSMR Level 2
584
Page 315
• Kepala Divisi Umum & Pengadaan PT SMI (Persero) (2015-sekarang)
• Kepala Divisi Support PT Sarana Multi Infrastruktur (Persero) (2009-2015)
• Property Manager Istana Sahid Apartment, PT Hotel Sahid International Jaya (2008-
2009)
• General Affairs Officer PT Perusahaan Pengelola Aset (Persero) (2004-2008)
• Team Leader Building Maintenance & Office Facilities - General Affairs Division, PT
Perusahaan Pengelola Aset (Persero) (2000-2004)
• Assistant Manager of General Affairs Division – Section Head Project & Maintenance
PT Bank Tiara Asia, Jakarta (1995-2000)
• Urban Development Project – Government of Central Java PT Sarana Budi,
Semarang (1993-1995)
Riwayat Pekerjaan • Assistant Architect PT Prima Design Engineering Consultant, Semarang (1991-1993)
Career History • Head of General Affairs & Procurement Division, PT SMI (Persero) (2015-present)
• Head of Support Division, PT Sarana Multi Infrastruktur (Persero) (2009-2015)
• Property Manager Istana Sahid Apartment, PT Hotel Sahid International Jaya (2008-
2009)
• General Affairs Officer PT Perusahaan Pengelola Aset (Persero) (2004-2008)
• Team Leader Building Maintenance & Office Facilities - General Affairs Division, PT
Perusahaan Pengelola Aset (Persero) (2000-2004)
• Assistant Manager of General Affairs Division – Section Head Project & Maintenance
PT Bank Tiara Asia, Jakarta (1995-2000)
• Urban Development Project – Government of Central Java PT Sarana Budi,
Semarang (1993-1995)
• Assistant Architect PT Prima Design Engineering Consultant, Semarang (1991-1993)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• Inhouse Training: Pelatihan Petugas P3K
• Inhouse Training: Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi,
Penggeledahan dan Penyitaan Batch 1 Tahun 2025
• Inhouse Training: Pelatihan Emergency Response Team (ERT)
• Knowledge Sharing: Workshop Penerapan SMK3 di PT. SMI
• Knowledge Sharing: Banking Knowledge Series: Treasury Product Knowledge
• Knowledge Sharing: Mini Workshop Mitigasi Bencana Gempa Megathrust
• Knowledge Sharing: Workshop Pencegahan dan Penanganan Bencana Kebakaran
Pelatihan Tahun 2025
• In-house Training: First Aid Officer Training (P3K)
Training in 2025 • In-house Training: Internal Briefing – Introduction to Procedures for Witness
Examination, Search, and Seizure (Batch 1, 2025)
• In-house Training: Emergency Response Team (ERT) Training
• Knowledge Sharing: Workshop on the Implementation of the Occupational Health
and Safety Management System (SMK3) at PT SMI
• Knowledge Sharing: Banking Knowledge Series – Treasury Product Knowledge
• Knowledge Sharing: Mini Workshop on Megathrust Earthquake Disaster Mitigation
• Knowledge Sharing: Workshop on Fire Disaster Prevention and Response
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
585
Page 316
05 Tata Kelola Perusahaan
Good Corporate Governance
Willy Sam
Kepala Divisi Keuangan & Hubungan Investor
Head of Finance & Investor Relations Division
51 tahun | 51 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tetap Komite Aset & Liabilitas
• Anggota Tidak Tetap Komite Kebijakan Umum dan Prosedur
• Anggota Tetap Komite Monitoring
• Anggota Tidak Tetap Komite Pembiayaan
• Anggota Tidak Tetap Komite Penyertaan Modal
• Anggota Tidak Tetap Komite Risiko & Kapital
• Anggota Tetap Komite Target
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Teknologi Informasi
Membership within the Committee of
• Permanent Member of the Asset and Liability Committee
the Board of Directors • Non-Permanent Member of the General Policy and Procedure Committee
• Permanent Member of the Monitoring Committee
• Non-Permanent Member of the Financing Committee
• Non-Permanent Member of the Equity Investment Committee
• Non-Permanent Member of the Risk and Capital Committee
• Permanent Member of the Target Committee
• Non-Permanent Member of the Information Technology Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
Riwayat Pendidikan Sarjana Akuntansi, Universitas Indonesia
Educational Background Bachelor of Accounting, University of Indonesia
• Sertifikasi Kompetensi Treasury Dealer Level Intermediate – LSPP
• BSMR Level 4
• International Certificate in Banking Risk and Regulation – GARP
• CFA Level 2 Completion
• Register Negara Akuntan Publik D-20923
• Sertifikasi Wakil Manajer Investasi
• Sertifikasi Wakil Penjamin Emisi Efek
Sertifikasi • Python for Managers Program, Columbia Business School, Executive Education
Certification • Intermediate Level Treasury Dealer Competency Certification - LSPP
• BSMR Level 4
• International Certificate in Banking Risk and Regulation – GARP
• CFA Level 2 Completion
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Public Accountant Registry D-20923
• Investment Manager Representative Certification
• Securities Underwriter Representative Certification
• Python for Managers Program, Columbia Business School, Executive Education
586
Page 317
• Kepala Divisi Keuangan dan Hubungan Investor, PT Sarana Multi Infrastruktur (2023
- sekarang)
• Executive Director, Head of Rates Trading Indonesia, Standard Chartered Bank
Indonesia (2015-2023)
• Director, Head of Rates Trading Indonesia, Standard Chartered Bank Indonesia (2011-
2015)
• Associate Director, Asian Fixed Income Trading, Standard Chartered Bank Indonesia
(2006-2011)
• Senior Investment Manager, Mandiri Manajemen Investasi, (2005-2006)
• Investment Manager, Fortis Investments (Mees Pierson Indonesia, ABN group) (2002-
2005)
• Portfolio Manager, Samuel Aset Manajemen (1999-2002)
Riwayat Pekerjaan • Associate, Research Analyst, Samuel Sekuritas Indonesia (1997-1999)
Career History • Head of Finance and Investor Relations Division, PT Sarana Multi Infrastruktur (2023 -
present)
• Executive Director, Head of Rates Trading Indonesia, Standard Chartered Bank
Indonesia (2015-2023)
• Director, Head of Rates Trading Indonesia, Standard Chartered Bank Indonesia (2011-
2015)
• Associate Director, Asian Fixed Income Trading, Standard Chartered Bank Indonesia
(2006-2011)
• Senior Investment Manager, Mandiri Investment Management, (2005-2006)
• Investment Manager, Fortis Investments (Mees Pierson Indonesia, ABN group) (2002-
2005)
• Portfolio Manager, Samuel Asset Management (1999- 2002)
• Associate, Research Analyst, Samuel Securities Indonesia (1997-1999)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• Leading and Motivating People with Different Personalities
• How Beloved Bosses Keep Top Talent
• The Power of Language: How Multilingualism Transforms Our Minds (Book Bite)
• How to Learn Faster
• Business English: Presentasi dan Negosiasi dalam Bahasa Inggris
• Behavioral Finance Foundations
• Organization Design
• Creating a Skills-Based Organization
• Foundations of Decentralized Finance (DeFi)
• International Logistics
• The Undercover Economist: The Economics behind Everyday Decisions (Blinkist
Pelatihan Tahun 2025 Summary)
Training in 2025 • The Data Science of Economics, Banking, and Finance
• No-Code Data Analysis and Visualization with ChatGPT
• OpenAI ChatGPT: Creating Custom GPTs
• Automating Your Work with Custom GPTs (No Code Required)
• Prompt Engineering with Gemini (2024)
• Inhouse Training: General ESG Training
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DOK)
• Knowledge Sharing Advanced International Corporate Finance
• Knowledge Sharing Hasil Kajian DRE “Perkembangan Kondisi Ekonomi Indonesia dan
Peluang Pembangunan Infrastruktur | Knowledge Sharing: Presentation of the DRE
Study on Developments in Indonesia’s Economic Conditions and Opportunities for
Infrastructure Development
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
587
Page 318
05 Tata Kelola Perusahaan
Good Corporate Governance
Gan Gan Dirgantara
Kepala Divisi Evaluasi Lingkungan Sosial & Teknik
Head of Social & Technical Environmental Evaluation Division
53 tahun | 53 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tidak Tetap Komite Target
• Anggota Tidak Tetap Komite Monitoring
• Anggota Tetap Komite Risiko & Kapital
• Anggota Tidak Tetap Komite Penyertaan Modal
• Anggota Tetap Komite Pembiayaan
• Anggota Tetap Komite Pengembangan Proyek & Jasa Konsultasi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Teknologi Informasi
Membership within the Committee of
• Non-Permanent Member of the Target Committee
the Board of Directors • Non-Permanent Member of the Monitoring Committee
• Permanent Member of the Risk and Capital Committee
• Non-Permanent Member of the Equity Investment Committee
• Permanent Member of the Financing Committee
• Permanent Member of the Project Development and Advisory Services Committee
• Non-Permanent Member of the General Policy and Procedure Committee
• Non-Permanent Member of the Information Technology Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• Ph.D Geography and Spatial Planning, University Montpellier 3 Perancis
• MSc. Environmental Science and Technology, IHE Delft
• Magister Studi Pembangunan Institut Teknologi Bandung
Riwayat Pendidikan • Sarjana Teknik Lingkungan, Institut Teknologi Bandung
Educational Background • Ph.D. in Geography and Spatial Planning, University of Montpellier 3, France
• MSc. Environmental Science and Technology, IHE Delft
• Master of Development Studies, Bandung Institute of Technology
• Bachelor of Environmental Engineering, Bandung Institute of Technology
Sertifikasi
-
Certification
• Kepala Divisi Evaluasi Lingkungan dan Jasa Konsultasi PT SMI (2021–sekarang)
• Senior Advisor Environment and Climate Change GIZ Indonesia (2017–2021)
• Kepala Divisi Pembiayaan Berkelanjutan PT SMI (2016 - 2017)
• Senior Advisor Environment and Climate Change GIZ Indonesia (2012–2016)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Kepala Sub Bagian Sumber Daya Air, Setda Provinsi Jawa Barat (2011–2012)
• PhD Researcher, IRD Montpellier Perancis (2008–2011)
• Perencana Bappeda Provinsi Jawa Barat (1996–2008)
• Head of Environmental Evaluation Division and Consulting Services, PT SMI (2021–
Riwayat Pekerjaan
Present)
Career History • Senior Advisor Environment and Climate Change GIZ Indonesia (2017–2021)
• Head of Sustainable Financing Division, PT SMI (2016–2017)
• Senior Advisor Environment and Climate Change GIZ Indonesia (2012–2016)
• Head of Water Resources Sub-Division, West Java Provincial Government Secretariat
(2011–2012)
• PhD Researcher, IRD Montpellier, France (2008–2011)
• Planner at the Regional Development Planning Agency (Bappeda) of West Java
Province (1996–2008)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
588
Page 319
• Inhouse Training: Inventarisasi dan Peluang Monetisasi Reduksi Emisi Gas Rumah
Kaca (GRK) untuk Karyawan dan Debitur PT SMI
• Inhouse Training: Workshop Identifikasi dan Implementasi Pengelolaan serta
Pemantauan Keanekaragaman Hayati Bagi Sektor Energi Baru Terbarukan
• Inhouse Training: Masa Persiapan Purnabakti (MPP) Stage 3 Batch 2
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DMR)
• Inhouse Training: Sharia Executive Class Training - Sharia Business Risk Perspective &
Mitigation
• Knowledge Sharing: Respectful Workplace Training
• Knowledge Sharing: Workshop on the Introduction and Lessons Learned on the
implementation of Taskforce on Nature-related Financial Disclosures (TNFD)
• Knowledge Sharing: Implementing Gender and Social Inclusion & SDG Indicators in
Infrastructure Projects
• Knowledge Sharing: Just Transition Training
• Knowledge Sharing: Pendalaman Aspek Teknis dan Strategis Pengadaan Kapal MR
Tanker & Handysize LPG Carrier
• Knowledge Sharing: Tourism and Airport Operations in Indonesia: Current Condition
and its Prospect (Special Case in Heritage Tourism)
Pelatihan Tahun 2025 • Perlindungan Warisan Budaya dalam Pelaksanaan Proyek Pembangunan
Training in 2025 Infrastruktur Berkelanjutan di Indonesia
• Peluang Pembiayaan Dalam Sistem Sanitasi Permukiman
• In-house Training: Pre-Retirement Preparation Program (MPP) Stage 3 – Batch 2
• In-house Training: Forging Resiliency Through Togetherness in Diversity (DMR)
• In-house Training: Sharia Executive Class Training – Sharia Business Risk Perspective
& Mitigation
• Knowledge Sharing: Respectful Workplace Training
• Knowledge Sharing: Workshop on the Introduction and Lessons Learned from the
Implementation of the Taskforce on Nature-related Financial Disclosures (TNFD)
• Knowledge Sharing: Implementing Gender and Social Inclusion & SDG Indicators in
Infrastructure Projects
• Knowledge Sharing: Just Transition Training
• Knowledge Sharing: Technical and Strategic Aspects of Procurement of MR Tanker
and Handysize LPG Carrier Vessels
• Knowledge Sharing: Tourism and Airport Operations in Indonesia: Current Conditions
and Prospects (Special Case in Heritage Tourism)
• Protection of Cultural Heritage in the Implementation of Sustainable Infrastructure
Development Projects in Indonesia
• Financing Opportunities in the Urban Sanitation System
Bibin Sibyanudin
Kepala Divisi Hukum
Head of Legal Division
54 tahun | 54 years old
Indonesia | Indonesian
Jakarta, Indonesia
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
• Anggota Tidak Tetap Komite Risiko dan Kapital
• Anggota Tidak Tetap Komite Teknologi Informasi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
• Anggota Tetap Komite Penyertaan Modal
• Anggota Tetap Komite Pembiayaan
• Anggota Tetap Komite Pengembangan Proyek & Jasa Konsultasi
• Anggota Tetap Komite Monitoring
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Target
Membership within the Committee of the
• Non-Permanent Member of the Risk and Capital Committee
Board of Directors • Non-Permanent Member of the Information Technology Committee
• Non-Permanent Member of the General Policy and Procedure Committee
• Permanent Member of the Equity Investment Committee
• Permanent Member of the Financing Committee
• Permanent Member of the Project Development and Advisory Services Committee
• Permanent Member of the Monitoring Committee
• Non-Permanent Member of the Target Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
589
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05 Tata Kelola Perusahaan
Good Corporate Governance
Riwayat Pendidikan S1 Fakultas Hukum Universitas Indonesia (1992)
Educational Background Bachelor of Law, University of Indonesia (1992)
Sertifikasi
PERADI
Certification
• Kepala Divisi Hukum PT SMI
• Team Leader Pembiayaan & Investasi, Divisi Hukum, PT SMI (2008)
• Associate, Kantor Hukum Widyawan & Partners (2008 - 2013)
Riwayat Pekerjaan • Staff Muda, Biro Hukum PT Jasa Marga (Persero)Tbk. (1998 - 2008)
Career History • Head of Legal Division, PT SMI
• Team Leader for Financing & Investment, Legal Division, PT SMI (2008)
• Associate, Widyawan & Partners Law Firm (2008 - 2013)
• Junior Staff, Legal Bureau of PT Jasa Marga (Persero) Tbk (1998 - 2008)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• Inhouse Training: Sharia Executive Class Training - Sharia Business Risk Perspective &
Mitigation
• Inhouse Training: Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi,
Penggeledahan dan Penyitaan Batch 1 Tahun 2025
• Inhouse Training: Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi,
Penggeledahan dan Penyitaan Batch 2 Tahun 2025
• Inhouse Training: Workshop Refreshment Agunan dan Asuransi terkait Kegiatan
Pelatihan Tahun 2025 Pembiayaan
Training in 2025 • In-house Training: Sharia Executive Class Training – Sharia Business Risk Perspective
& Mitigation
• In-house Training: Internal Briefing – Introduction to Procedures for Witness
Examination, Search, and Seizure (Batch 1, 2025)
• In-house Training: Internal Briefing – Introduction to Procedures for Witness
Examination, Search, and Seizure (Batch 2, 2025)
• In-house Training: Collateral and Insurance Refreshment Workshop Related to
Financing Activities
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
590
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Hendry
Kepala Divisi Evaluasi Pembiayaan & Investasi
Head of Financing & Investment Evaluation Division
46 tahun | 46 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tidak Tetap Komite Target
• Sekretaris dan Anggota Tetap Komite Monitoring
• Anggota Tetap Komite Risiko & Kapital
• Anggota Tetap Komite Penyertaan Modal
• Anggota Tetap Komite Pembiayaan
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
Membership within the Committee of the
• Non-Permanent Member of the Target Committee
Board of Directors • Secretary and Permanent Member of the Monitoring Committee
• Permanent Member of the Risk and Capital Committee
• Permanent Member of the Equity Investment Committee
• Permanent Member of the Financing Committee
• Non-Permanent Member of the General Policy and Procedure Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• Doctoral Strategic Management Universitas Trisakti (2019)
• Magister Manajemen Institut Teknologi Bandung (2003)
• Sarjana Administrasi Niaga Universitas Katolik Parahyangan (2001)
Riwayat Pendidikan
• Doctorate in Strategic Management, Trisakti University (2019)
Educational Background • Master of Management, Bandung Institute of Technology (2003)
• Bachelor’s Degree in Business Administration, Parahyangan Catholic University
(2001)
• BSMR IV
• Corporate Finance, Kiran Resources Indonesia, (2019)
• 1st Strategic Financial Analysis for Business Evaluation Program, Asian Institute
Sertifikasi
Management (2012)
Certification • Financial Accounting for Lenders and Commercial Loan to Business, Omega
Consultant (2011)
• Certificate International Enterprise Risk Management
• Kepala Divisi Evaluasi Pembiayaan & Investasi, PT Sarana Multi Infrastruktur
(2022–sekarang)
• Head of Credit Analyst, Divisi Bisnis dan Risiko Kredit, Bank Negara Indonesia
(2014–2022)
• Relationship Manager, Divisi Korporasi Dua, Bank Negara Indonesia (2011–2014)
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
• Analis Kredit, Divisi Korporasi Dua, Bank Negara Indonesia, (2007–2011)
• Officer Development Program, Bank Negara Indonesia (2006-2007)
Riwayat Pekerjaan • Relationship Manager, Small Medium Enterprise - Bank Danamon (2003–2004)
Career History • Head of Financing & Investment Evaluation Division, PT Sarana Multi Infrastruktur
(2022–Present)
• Head of Credit Analyst, Business and Credit Risk Division, Bank Negara Indonesia
(2014–2022)
• Relationship Manager, Corporate Division 2, Bank Negara Indonesia (2011-2014)
• Credit Analyst, Corporate Division 2, Bank Negara Indonesia, (2007–2011)
• Officer Development Program, Bank Negara Indonesia (2006–2007)
• Relationship Manager, Small Medium Enterprise – Bank Danamon (2003–2004)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
591
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05 Tata Kelola Perusahaan
Good Corporate Governance
• Become an Entrepreneur Inside a Company
• Leading and Motivating People with Different Personalities
• Leading with Emotional Intelligence
• General Business English
• Forging Resiliency Through Togetherness in Diversity (DMR)
• Unit Risk & Compliance Manager
• Workshop Produk Hybrid Financing
• Sharia Executive Class Training - Sharia Business Risk Perspective & Mitigation
• Pembiayaan Daerah
• Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi, Penggeledahan
dan Penyitaan Batch 2 Tahun 2025
• Worskhop Pendalaman Aspek Risiko & Penerapan BJR Pada Aktivitas Penyertaan
Modal di PT SMI
• Workshop Refreshment Agunan dan Asuransi terkait Kegiatan Pembiayaan
• Pembekalan Upaya Pencegahan Kredit/Pembiayaan Bermasalah Melalui Analisa
Kredit & Penerapan Strategi dari Aspek Non-Financial (Secara End to End)
• Workshop Penerapan SMK3 di PT SMI
• Knowledge Sharing: Growing Infrastructure Course (GIC) on Sustainable Transport
• Leadership Decision Making
• Knowledge Sharing Advanced International Corporate Finance
• Banking Knowledge Sharing: Trade Finance
• Banking Knowledge Series: Treasury Product Knowledge
• Banking Knowledge Series: Loan Syndication
• Knowledge Sharing: Pendalaman Aspek Teknis dan Strategis Pengadaan Kapal MR
Tanker & Handysize LPG Carrier
• Data Center Infrastructure
• Resilience to Sustainability - Leading Through GRC in the Post Digital Era
• Inaugurasi Gelar Certified Risk Management (CRM) dan Program Pemeliharaan
Sertifikasi Manajemen Risiko J7
Pelatihan Tahun 2025
• Become an Entrepreneur Inside a Company
Training in 2025 • Leading and Motivating People with Different Personalities
• Leading with Emotional Intelligence
• General Business English
• Forging Resiliency Through Togetherness in Diversity (DMR)
• Unit Risk & Compliance Manager
• Hybrid Financing Product Workshop
• Sharia Executive Class Training – Sharia Business Risk Perspective & Mitigation
• Regional Financing
• Internal Briefing – Introduction to Procedures for Witness Examination, Search, and
Seizure (Batch 2, 2025)
• Workshop on Risk Aspects and Implementation of BJR in Equity Investment Activities
at PT SMI
• Collateral and Insurance Refreshment Workshop Related to Financing Activities
• Preventive Measures for Non-Performing Loans/Financing through Credit Analysis
and Strategy Implementation from Non-Financial Aspects (End-to-End)
• Workshop on the Implementation of the Occupational Health and Safety
Management System (SMK3) at PT SMI
• Knowledge Sharing: Growing Infrastructure Course (GIC) on Sustainable Transport
• Leadership Decision Making
• Knowledge Sharing: Advanced International Corporate Finance
• Banking Knowledge Sharing: Trade Finance
• Banking Knowledge Series – Treasury Product Knowledge
• Banking Knowledge Series – Loan Syndication
• Knowledge Sharing: Technical and Strategic Aspects of Procurement of MR Tanker
and Handysize LPG Carrier Vessels
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Data Center Infrastructure
• Resilience to Sustainability – Leading Through GRC in the Post-Digital Era
• Inauguration of the Certified Risk Management (CRM) Title and Risk Management
Certification Maintenance Program J7
592
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Ekha Yudha Pratama
Kepala Divisi Pembiayaan II
Head of Financing II Division
40 tahun | 40 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tidak Tetap Komite Target
• Anggota Tetap Komite Monitoring
• Anggota Tetap Komite Pembiayaan
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Teknologi Informasi
Membership within the Committee of the
• Non-Permanent Member of the Target Committee
Board of Directors • Permanent Member of the Monitoring Committee
• Permanent Member of the Financing Committee
• Non-Permanent Member of the General Policy and Procedure Committee
• Non-Permanent Member of the Information Technology Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• MScBA Marketing Management Rotterdam School of Management, Erasmus
University
• Master of Business Administration, Universitas Gadjah Mada
Riwayat Pendidikan • Sarjana Biologi Ilmu Lingkungan, Universitas Gadjah Mada
Educational Background • MScBA Marketing Management, Rotterdam School of Management, Erasmus
University
• Master of Business Administration, Gadjah Mada University
• Bachelor’s Degree in Biology, Gadjah Mada University
Sertifikasi
-
Certification
• Kepala Divisi Pembiayaan II PT Sarana Multi Infrastruktur (Persero) (2024-sekarang)
• Kepala Divisi Pembiayaan I PT Sarana Multi Infrastruktur (Persero) (2023–2024)
• Head of Advisory Division PT Sarana Multi Infrastruktur (Persero) (2022–present)
• Team Leader Sustainable Financing PT Sarana Multi Infrastruktur (Persero) (2020–
2022)
• Team Leader Financing & Investment PT Sarana Multi Infrastruktur (Persero) (2018–
2020)
• Relationship Manager, PT Sarana Multi Infrastruktur (Persero) (2016-2018)
• Corporate Credit Analyst, PT Sarana Multi Infrastruktur (Persero) (2015-2016)
• Credit Process Improvement Analyst, PT Bank Negara Indonesia (Persero) Tbk (2014–
2015)
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
• Risk Portfolio Analyst, PT Bank Negara Indonesia (Persero) Tbk (2014)
• Commercial Credit Analyst South Sumatra Region, PT Bank Negara Indonesia
Riwayat Pekerjaan (Persero) Tbk (2012–2014)
Career History • Head of Financing Division II, PT Sarana Multi Infrastruktur (Persero) (2024–present)
• Head of Financing Division I, PT Sarana Multi Infrastruktur (Persero) (2023–2024)
• Head of Advisory Division PT Sarana Multi Infrastruktur (Persero) (2022–present)
• Team Leader Sustainable Financing PT Sarana Multi Infrastruktur (Persero) (2020–
2022)
• Team Leader Financing & Investment PT Sarana Multi Infrastruktur (Persero) (2018–
2020)
• Relationship Manager, PT Sarana Multi Infrastruktur (Persero) (2016-2018)
• Corporate Credit Analyst, PT Sarana Multi Infrastruktur (Persero) (2015-2016)
• Credit Process Improvement Analyst, PT Bank Negara Indonesia (Persero) Tbk (2014–
2015)
• Risk Portfolio Analyst, PT Bank Negara Indonesia (Persero) Tbk (2014)
• Commercial Credit Analyst South Sumatra Region, PT Bank Negara Indonesia
(Persero) Tbk (2012–2014)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
593
Page 324
05 Tata Kelola Perusahaan
Good Corporate Governance
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DPI)
• Inhouse Training: Workshop Produk Hybrid Financing
• Inhouse Training: Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi,
Penggeledahan dan Penyitaan Batch 1 Tahun 2025
• Inhouse Training: Pembekalan Upaya Pencegahan Kredit/Pembiayaan Bermasalah
Melalui Analisa Kredit & Penerapan Strategi dari Aspek Non-Financial (Secara End to
End)
• Knowledge Sharing Hasil Kajian DRE “Perkembangan Kondisi Ekonomi Indonesia dan
Peluang Pembangunan Infrastruktur
• Sustainability - The Next Challenge
Pelatihan Tahun 2025
• In-house Training: Forging Resiliency Through Togetherness in Diversity (DPI)
Training in 2025 • In-house Training: Hybrid Financing Product Workshop
• In-house Training: Internal Briefing – Introduction to Procedures for Witness
Examination, Search, and Seizure (Batch 1, 2025)
• In-house Training: Preventive Measures for Non-Performing Loans/Financing through
Credit Analysis and Strategy Implementation from Non-Financial Aspects (End-to-
End)
• Knowledge Sharing: Presentation of the Economic Research Division (DRE) Study
on Developments in Indonesia’s Economic Conditions and Opportunities for
Infrastructure Development
• Sustainability – The Next Challenge
Isnaputra Iskandar
Kepala Divisi Penyertaan Modal
Head of Equity Investment Division
53 tahun | 53 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Sekretaris dan Anggota Tetap Komite Penyertaan Modal
• Anggota Tetap Komite Target
• Anggota Tetap Komite Monitoring
• Anggota Tidak Tetap Komite Kebijakan Umum dan Prosedur
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Teknologi Informasi
Membership within the Committee of the
• Secretary and Permanent Member of the Equity Investment Committee
Board of Directors • Permanent Member of the Target Committee
• Permanent Member of the Monitoring Committee
• Non-Permanent Member of the General Policy and Procedure Committee
• Non-Permanent Member of the Information Technology Committee
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• Master of Financial Economics, Katholieke Universiteit Leuven, Belgium
Riwayat Pendidikan • Bachelor in Accounting, University of Indonesia
Educational Background • Master of Financial Economics, Katholieke Universiteit Leuven, Belgium
• Bachelor’s Degree in Accounting, University of Indonesia
Sertifikasi
Chartered Financial Analyst (CFA)
Certification
Riwayat Pekerjaan Kepala Divisi Penyertaan Modal PT Sarana Multi Infrastruktur (Persero) (2022-sekarang)
Career History Head of Capital Participation Division PT Sarana Multi Infrastruktur (Persero) (2022-present)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
594
Page 325
• SDG Indonesia one
• Global Strategy
• Leading and Motivating People with Different Personalities
• Train Your Brain to Lead with Trust
• Risiko Kredit & Penyertaan Modal
• Project Finance
• Riset Ekonomi
• Corporate Finance
• Equity investment
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DPI)
• Inhouse Training: Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi,
Penggeledahan dan Penyitaan Batch 2 Tahun 2025
• Inhouse Training: Workshop Pendalaman Aspek Risiko & Penerapan BJR Pada
Aktivitas Penyertaan Modal di PT SMI
• Knowledge Sharing: Hasil Kajian DRE “Perkembangan Kondisi Ekonomi Indonesia
dan Peluang Pembangunan Infrastruktur
Pelatihan Tahun 2025 • Knowledge Sharing: Data Center Infrastructure
Training in 2025 • SDG Indonesia One
• Global Strategy
• Leading and Motivating People with Different Personalities
• Train Your Brain to Lead with Trust
• Credit Risk and Equity Investment
• Project Finance
• Economic Research
• Corporate Finance
• Equity Investment
• In-house Training: Forging Resiliency Through Togetherness in Diversity (DPI)
• In-house Training: Internal Briefing – Introduction to Procedures for Witness
Examination, Search, and Seizure (Batch 2, 2025)
• In-house Training: Workshop on Risk Aspects and Implementation of BJR in Equity
Investment Activities at PT SMI
• Knowledge Sharing: Presentation of the DRE Study on Developments in Indonesia’s
Economic Conditions and Opportunities for Infrastructure Development
• Knowledge Sharing: Data Center Infrastructure
Adri Asmoro Laksono Poesoro
Kepala Divisi Pembiayaan Publik III
Head of Public Financing Division III
48 tahun | 48 years old
Indonesia | Indonesian
Jakarta, Indonesia
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
• Anggota Tidak Tetap Komite Aset & Liabilitas
• Anggota Tidak Tetap Komite Teknologi Informasi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
• Anggota Tetap Komite Pembiayaan
• Anggota Tetap Komite Monitoring
Keanggotaan pada Komite Direksi
• Anggota Tetap Komite Target
Membership within the Committee of the
• Non-Permanent Member of the Asset and Liability Committee
Board of Directors • Non-Permanent Member of the Information Technology Committee
• Non-Permanent Member of the General Policy and Procedure Committee
• Permanent Member of the Financing Committee
• Permanent Member of the Monitoring Committee
• Permanent Member of the Target Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• PhD in Economics, Claremont Graduate University, California, USA (2013)
• Master of Arts in Economics University of Southern California, USA (2005)
Riwayat Pendidikan • Sarjana Ekonomi Universitas Indonesia (2001)
Educational Background • PhD in Economics, Claremont Graduate University, California, USA (2013)
• Master of Arts in Economics University of Southern California, USA (2005)
• Bachelor’s Degree in Economics, University of Indonesia (2001)
595
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05 Tata Kelola Perusahaan
Good Corporate Governance
• Executive Finance Program - University of Pennsylvania
Sertifikasi
• Housing Finance; Public Policy Training Certification Georgia State University, USA
Certification • BSMR Level 1
• Kepala Divisi Pembiayaan Publik III PT Sarana Multi Infrastruktur (Persero)
(2022-sekarang)
• Sector Analyst Divisi Riset Ekonomi PT Sarana Multi Infrastruktur (Persero)
(2021-2022)
• Urban Economist (Task Team Leaders) World Bank Office Jakarta (2013–2021)
• Urban Economist (Consultant) World Bank 2008-2010
Riwayat Pekerjaan • SMERU Research Institute (2005–2007)
Career History • Head of Public Financing Division III, PT Sarana Multi Infrastruktur (Persero) (2022–
present)
• Sector Analyst, Economic Research Division, PT Sarana Multi Infrastruktur (Persero)
(2021–2022)
• Urban Economist (Task Team Leader), World Bank Jakarta Office (2013–2021)
• Urban Economist (Consultant), World Bank (2008–2010)
• Researcher, SMERU Research Institute (2005–2007)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• Brown Bag Lunch: From Waste to Power: Leveraging Results-Based Lending for
Sustainable Cities
• Transforming Smart Green City Solutions through Blended Finance
• Ozwater’25
• Peluang Pembiayaan Dalam Sistem Sanitasi Permukiman
• IDFC Sherpa Meeting
• Infrastructure Financing and Public-Private Partnership Conference
Pelatihan Tahun 2025 • International Infrastructure Energy Project Vision Conference
Training in 2025 • Brown Bag Lunch: From Waste to Power – Leveraging Results-Based Lending for
Sustainable Cities
• Transforming Smart Green City Solutions through Blended Finance
• Ozwater’25
• Financing Opportunities in the Urban Sanitation System
• IDFC Sherpa Meeting
• Infrastructure Financing and Public-Private Partnership Conference
• International Infrastructure Energy Project Vision Conference
Hatta Muttaqin
Kepala Divisi Pengelolaan Pembiayaan & Investasi Khusus
Head of Special Financing & Investment Management Division
39 tahun | 39 years old
Indonesia | Indonesian
Jakarta, Indonesia
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Anggota Tetap Komite Target
• Anggota Tetap Komite Monitoring
• Anggota Tetap Komite Risiko & Kapital
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Teknologi Informasi
Membership within the Committee of the
• Permanent Member of the Target Committee
Board of Directors • Permanent Member of the Monitoring Committee
• Permanent Member of the Risk and Capital Committee
• Non-Permanent Member of the General Policy and Procedure Committee
• Non-Permanent Member of the Information Technology Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• Magister Manajemen, Universitas Bina Nusantara (2023)
Riwayat Pendidikan • Sarjana Hukum, Universitas Brawijaya (2008)
Educational Background • Master of Management, Bina Nusantara University (2023)
• Bachelor of Law, Brawijaya University (2008)
596
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Sertifikasi
BSMR Level 1
Certification
• Kepala Divisi Pengelolaan Pembiayaan & Investasi Khusus –
PT Sarana Multi Infrastruktur (Persero) (Januari 2024 – sekarang)
• Team Leader of Business & Operational Policy Management -
PT Sarana Multi Infrastruktur (Persero) (April 2023-Desember 2023)
• Team Leader Financing & Investment - PT Sarana Multi Infrastruktur (Persero)
(September 2018 - Maret 2023)
• Assistant Vice President Financing and Investment - PT Sarana Multi Infrastruktur
Riwayat Pekerjaan (Persero) (January 2018 - Agustus 2018)
Career History • Head of Special Financing & Investment Management Division, PT Sarana Multi
Infrastruktur (Persero) (January 2024 – Present)
• Team Leader, Business & Operational Policy Management, PT Sarana Multi
Infrastruktur (Persero) (April 2023 – December 2023)
• Team Leader, Financing & Investment, PT Sarana Multi Infrastruktur (Persero)
(September 2018 – March 2023)
• - Assistant Vice President, Financing & Investment, PT Sarana Multi Infrastruktur
(Persero) (January 2018 – August 2018)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DMR)
• Inhouse Training: Sharia Executive Class Training - Sharia Business Risk Perspective
& Mitigation
• Inhouse Training: Pembiayaan Daerah
• Inhouse Training: Workshop Rating atas Perangkat dan Metodologi Rating
Corporate Finance, Project Finance, Badan Layanan Umum (BLU) Rumah Sakit,
PDAM dan Pemerintah Daerah (Pemda)
• Inhouse Training: Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi,
Penggeledahan dan Penyitaan Batch 2 Tahun 2025
• Inhouse Training: Pembekalan Upaya Pencegahan Kredit/Pembiayaan Bermasalah
Melalui Analisa Kredit & Penerapan Strategi dari Aspek Non-Financial (Secara End
to End)
Pelatihan Tahun 2025 • Knowledge Sharing Advanced Corporate Credit-Warning Signals
Training in 2025 • Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DMR)
• Inhouse Training: Sharia Executive Class Training – Sharia Business Risk Perspective
& Mitigation
• Inhouse Training: Regional Financing
• Inhouse Training: Workshop on Rating Tools and Methodologies for Corporate
Finance, Project Finance, Public Service Agency (BLU) Hospitals, Regional Water
Utilities (PDAM), and Regional Governments
• Inhouse Training: Internal Briefing – Introduction to Procedures for Witness
Examination, Search, and Seizure Batch 2 Year 2025
• Inhouse Training: Briefing on Efforts to Prevent Non-Performing Loans/Financing
through Credit Analysis and the Implementation of Strategies from Non-Financial
Aspects (End-to-End)
• Knowledge Sharing: Advanced Corporate Credit Warning Signals
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
597
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05 Tata Kelola Perusahaan
Good Corporate Governance
Peggy Fathiya
Kepala Divisi Manajemen Risiko Terintegrasi
Head of Integrated Risk Management Division
52 Tahun | 52 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tidak Tetap Komite Target
• Anggota Tidak Tetap Komite Monitoring
• Sekretaris Komite Risiko & Kapital
• Sekretaris Komite Kebijakan Umum & Prosedur
Keanggotaan pada Komite Direksi
• Anggota Tetap Komite Teknologi Informasi
Membership within the Committee of the
• Non-Permanent Member of the Target Committee
Board of Directors • Non-Permanent Member of the Monitoring Committee
• Secretary of the Risk and Capital Committee
• Secretary of the General Policy and Procedure Committee
• Permanent Member of the Information Technology Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee
• Magister Manajemen, Institut Teknologi Bandung (1999)
Riwayat Pendidikan • Sarjana Teknik, Institut Teknologi Bandung (1998)
Educational Background • Master of Management, Bandung Institute of Technology (1999
• Bachelor’s Degree in Engineering, Bandung Institute of Technology (1998)
• Certified Risk Professional LSPP
• Sertifikasi Manajemen Risiko BSMR Level 4
• Sertifikasi Manajemen Risiko BSMR Level 5
Sertifikasi • Credit Skill Certification
Certification • Certified Risk Professional, LSPP
• BSMR Risk Management Certification Level 4
• BSMR Risk Management Certification Level 5
• Credit Skill Certification
• Kepala Divisi Manajemen Risiko Terintegrasi PT Sarana Multi Infrastruktur (Persero)
(2024–sekarang)
• Senior Vice President, Group Head of Risk Management – PT Semen Indonesia
(Persero), Tbk
• General Manager, Head of Finance – PT Semen Indonesia (Persero) Tbk
• Group Head of Business Risk – PT Bank DKI
• Division Head of Commercial, Corporate & Treasury Business Risk – PT Bank DKI
Riwayat Pekerjaan
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Head of Branch – PT Bank Amar Indonesia
Career History • Head of Integrated Risk Management Division, PT Sarana Multi Infrastruktur (Persero)
(2024 – present)
• Senior Vice President, Group Head of Risk Management – PT Semen Indonesia
(Persero) Tbk
• General Manager, Head of Finance – PT Semen Indonesia (Persero) Tbk
• Group Head of Business Risk – PT Bank DKI
• Division Head of Commercial, Corporate & Treasury Business Risk – PT Bank DKI
• Head of Branch – PT Bank Amar Indonesia
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
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• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DMR)
• Inhouse Training: Unit Risk & Compliance Manager
• Inhouse Training: Workshop Produk Hybrid Financing
• Inhouse Training: URCM Forum - Pemanfaatan AI untuk Penguatan Tata Kelola,
Pengendalian Internal, dan Ketahanan Organisasi
• Inhouse Training: Sharia Executive Class Training - Sharia Business Risk Perspective &
Mitigation
• Inhouse Training: Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi,
Penggeledahan dan Penyitaan Batch 1 Tahun 2025
• Inhouse Training: Workshop Risk Maturity Index (RMI)
• Inhouse Training: Workshop Rating atas Perangkat dan Metodologi Rating Corporate
Finance, Project Finance, Badan Layanan Umum (BLU) Rumah Sakit, PDAM dan
Pemerintah Daerah (Pemda)
• Inhouse Training: Workshop Penyelarasan Prosedur dan Dokumen Internal Control
over Financial Reporting (ICoFR)
• Inhouse Training: Worskhop Pendalaman Aspek Risiko & Penerapan BJR Pada
Aktivitas Penyertaan Modal di PT SMI
• Knowledge Sharing: Workshop: Overview Transaksi Syariah dan Langkah Persiapan
Implementasi atas PSAK 413
• Inaugurasi Gelar Certified Risk Management (CRM) dan Program Pemeliharaan
Sertifikasi Manajemen Risiko J7
• Private Equity Masterclass
• Risk Governance Masterclass - GRC Risk Beyond 2025: "Risk Odysey - Engineering
Momentum, Building a Resilient Risk DNA"
• GRC Risk Beyond International Conference 2025: "Risk Odysey - Engineering
Pelatihan Tahun 2025 Momentum, Building a Resilient Risk DNA"
Training in 2025 • Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DMR)
• Inhouse Training: Unit Risk & Compliance Manager
• Inhouse Training: Hybrid Financing Products Workshop
• Inhouse Training: URCM Forum – Utilization of AI to Strengthen Governance, Internal
Control, and Organizational Resilience
• Inhouse Training: Sharia Executive Class Training – Sharia Business Risk Perspective
& Mitigation
• Inhouse Training: Internal Briefing – Introduction to Procedures for Witness
Examination, Search, and Seizure Batch 1 Year 2025
• Inhouse Training: Risk Maturity Index (RMI) Workshop
• Inhouse Training: Workshop on Rating Tools and Methodologies for Corporate
Finance, Project Finance, Public Service Agency (BLU) Hospitals, Regional Water
Utilities (PDAM), and Regional Government
• Inhouse Training: Workshop on Alignment of Procedures and Documents for Internal
Control over Financial Reporting (ICoFR)
• Inhouse Training: Workshop on Deepening Risk Aspects and the Implementation of
BJR in Equity Investment Activities at PT SMI
• Knowledge Sharing: Workshop – Overview of Sharia Transactions and Preparatory
Steps for the Implementation of PSAK 413
• Inauguration of the Certified Risk Management (CRM) Title and Risk Management
Certification Maintenance Program J7
• Private Equity Masterclass
• Risk Governance Masterclass – GRC Risk Beyond 2025: “Risk Odyssey – Engineering
Momentum, Building a Resilient Risk DNA”
• GRC Risk Beyond International Conference 2025: “Risk Odyssey – Engineering
Momentum, Building a Resilient Risk DNA”
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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05 Tata Kelola Perusahaan
Good Corporate Governance
Romanus Tory Kusumantara
Kepala Divisi Teknologi Informasi
Head of Information Technology Division
55 Tahun | 55 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Sekretaris dan Anggota Tetap Komite Teknologi Informasi
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
Membership within the Committee of the
• Secretary and Permanent Member of the Information Technology Committee
Board of Directors • Non-Permanent Member of the General Policy & Procedure Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee.
• Magister Manajemen Fakultas Ekonomi, Universitas Indonesia (1999)
Riwayat Pendidikan • Sarjana Teknik Elektro, Universitas Gadjah Mada (1989)
Educational Background • Master of Management, Faculty of Economics, University of Indonesia (1999)
• Bachelor of Electrical Engineering, Gadjah Mada University (1989)
• BSMR III from BARa (LSPP)
• ISMS ISO/IEC27001:2022 Lead Auditor Certified by CQIIRCA
• Agile Scrum Foundation Certified by EXIN
Sertifikasi • Disruptive Innovation, Big Asia Pacific Consulting – Perth
Certification • Risk Management, International Faculty of Finance – London
• Performance Measurement System, Silverlake - Kuala Lumpur
• Business Intelligence, Cognos – Sydney
• Certified Ethical Hacker
• Kepala Divisi Teknologi Informasi, PT Sarana Multi Infrastructure (Persero)
(2016-sekarang)
• Vice President, Head of IT Wholesale & Enterprise Risk Management, PT Bank Mandiri
(Persero), Tbk (2007–2015)
• Assistant Vice President Data Warehouse, MIS, & Business Intelligence, PT Bank
Mandiri (Persero), Tbk (2004-2006)
• IT Senior Manager MIS & Performance Measurement System, PT Bank Mandiri
(Persero), Tbk (2001–2003)
• IT Manager Tim Merger dan Konsolidasi Sistem TI Bank Mandiri (1999–2001)
Riwayat Pekerjaan • Loan Administrator Supervisor, Bank Bumi Daya (1995-1998)
Career History • Head of Information Technology Division, PT Sarana Multi Infrastruktur (Persero)
(2016–present)
• Vice President, Head of IT Wholesale & Enterprise Risk Management, PT Bank Mandiri
(Persero) Tbk (2007–2015)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Assistant Vice President, Data Warehouse, MIS & Business Intelligence, PT Bank
Mandiri (Persero) Tbk (2004–2006)
• IT Senior Manager, MIS & Performance Measurement System, PT Bank Mandiri
(Persero) Tbk (2001–2003)
• IT Manager, Bank Mandiri IT System Merger and Consolidation Team (1999–2001)
• Loan Administrator Supervisor, Bank Bumi Daya (1995–1998)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
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• Inhouse Training: Masa Persiapan Purnabakti (MPP) Stage 3 Batch 1
• Inhouse Training: Forging Resiliency Through Togetherness in Diversity (DOK)
• Inhouse Training: Refreshment Aplikasi ARRA APOLO
• Inhouse Training: Information Security Management System
• Inhouse Training: Workshop Penyelarasan Prosedur dan Dokumen Internal Control
over Financial Reporting (ICoFR)
• Inhouse Training: Workshop Building Batch Data Analytics Solutions on AWS
• Inhouse Training: Workshop AWS Gen-AI Practitioner
• Inhouse Training: Workshop Architecting on AWS
• Knowledge Sharing: Leading Successful Programs: Using Evidence to Assess
Effectiveness
• Knowledge Sharing: Pemanfaatan Artificial Intelligence dalam Industri Keuangan
dan Infrastruktur
• Knowledge Sharing: Workshop dan Sosialisasi Petunjuk Teknis Tata Kelola Data
• Knowledge Sharing: Workshop Optimalisasi Pemanfaatan Copilot AI
• Strategy in the Age of AI and Digital Disruption
Pelatihan Tahun 2025
• Inhouse Training: Pre-Retirement Preparation Period Stage 3 Batch 1
Training in 2025 • Inhouse Training: Forging Resiliency Through Togetherness in Diversity
• Inhouse Training: Refreshment of ARRA APOLO Application
• Inhouse Training: Information Security Management System
• Inhouse Training: Workshop on Alignment of Procedures and Internal Control over
Financial Reporting Documents
• Inhouse Training: Workshop Building Batch Data Analytics Solutions on AWS
• Inhouse Training: Workshop AWS Gen-AI Practitioner
• Inhouse Training: Workshop Architecting on AWS
• Knowledge Sharing: Leading Successful Programs: Using Evidence to Assess
Effectiveness
• Knowledge Sharing: Utilization of Artificial Intelligence in the Financial and
Infrastructure Industry
• Knowledge Sharing: Workshop and Socialization of Technical Guidelines on Data
Governance
• Knowledge Sharing: Workshop on Optimizing the Utilization of Copilot AI
• Strategy in the Age of AI and Digital Disruption
Richard Mangapul Leonard Silaen
Kepala Divisi Pembiayaan I
Head of Financing Division I
45 Tahun | 45 years old
Indonesia | Indonesian
Jakarta, Indonesia
• Anggota Tetap Komite Monitoring
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
• Anggota Tetap Komite Pembiayaan
• Anggota Tidak Tetap Komite Target
• Anggota Tidak Tetap Komite Kebijakan Umum & Prosedur
Keanggotaan pada Komite Direksi
• Anggota Tidak Tetap Komite Teknologi Informasi
Membership within the Committee of the
• Permanent Member of the Monitoring Committee
Board of Directors • Permanent Member of the Financing Committee
• Non-Permanent Member of the Target Committee
• Non-Permanent Member of the General Policy and Procedure Committee
• Non-Permanent Member of the Information Technology Committee
Dasar Hukum Pengangkatan Dapat dilihat pada bagian Komposisi dan Profil masing-masing Komite.
Legal Basis of Appointment Refer to the Composition and Profile section of each Committee.
• Magister Manajemen, Universitas Indonesia (2004–2005)
Riwayat Pendidikan • Sarjana Akuntansi, Universitas Indonesia (1998–2002)
Educational Background • Master of Management, University of Indonesia (2004–2005)
• Bachelor of Accounting, University of Indonesia (1998–2002)
Sertifikasi • BSMR Level III
Certification • BSRM Level I
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05 Tata Kelola Perusahaan
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• Kepala Divisi Pembiayaan 1 PT Sarana Multi Infrastruktur (Persero) (2025-sekarang)
• Menjabat beberapa posisi di PT Maybank Indonesia TBK (2016-2025)
• Menjabat beberapa posisi di PT Bank Negara Indonesia Persero TBK (2007-2016)
Riwayat Pekerjaan • Junior Auditor, KAP Ernst& Young (2002–2004)
Career History • Head of Financing Division 1, PT Sarana Multi Infrastruktur (Persero) (2025–present)
• Held several positions at PT Maybank Indonesia Tbk (2016–2025)
• Held several positions at PT Bank Negara Indonesia (Persero) Tbk (2007–2016)
• Junior Auditor, KAP Ernst & Young (2002–2004)
Rangkap Jabatan Tidak terdapat rangkap jabatan di luar Perseroan
Concurrent Positions Does not hold concurrent positions outside the Company
• Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan Saksi, Penggeledahan
dan Penyitaan Batch 2 Tahun 2025
• Pembekalan Upaya Pencegahan Kredit/Pembiayaan Bermasalah Melalui Analisa
Kredit & Penerapan Strategi dari Aspek Non-Financial (Secara End to End)
Pelatihan Tahun 2025
• Internal Briefing – Introduction to Procedures for Witness Examination, Search, and
Training in 2025 Seizure Batch 2 of 2025
• Briefing on Preventive Measures for Non-Performing Loans/Financing through Credit
Analysis and Implementation of Strategies from Non-Financial Aspects (End-to-
End)
Komite Risiko dan Kapital Risk and Capital Committee
Perseroan memastikan pengelolaan risiko dan The Company ensures that risk and capital management
permodalan dilakukan secara disiplin melalui Komite are carried out in a disciplined manner through the Risk
Risiko dan Kapital (KRK), yang dibentuk berdasarkan and Capital Committee (RCC), which was established
Surat Keputusan Direksi No. SK-3/SMI/0214 tanggal 17 based on the Decree of the Board of Directors No. SK-3/
Februari 2014 dan terakhir diperbarui melalui Surat SMI/0214 dated February 17, 2014, and was most recently
Keputusan Direksi No. SK-008/SMI/0422 tanggal 27 April updated through the Decree of the Board of Directors No.
2022. Komite ini berperan dalam menilai, mengarahkan, SK-008/SMI/0422 dated April 27, 2022. This Committee
dan memberikan rekomendasi atas pengelolaan risiko plays a role in assessing, directing, and providing
sesuai kapasitas risiko dan risk appetite Perseroan. recommendations on risk management in accordance
with the Company’s risk capacity and risk appetite.
Piagam Komite Risiko dan Kapital Risk and Capital Committee Charter
Untuk memastikan efektivitas pengelolaan risiko dan To ensure the effectiveness of risk and capital
permodalan, Komite Risiko dan Kapital berpedoman pada management, the Risk and Capital Committee is guided
Pedoman Kerja yang ditetapkan melalui Surat Keputusan by the Work Guidelines stipulated through the Decree
Direksi No. SK-008/SMI/0422. Pedoman tersebut menjadi of the Board of Directors No. SK-008/SMI/0422. These
dasar pengaturan berbagai ketentuan yang mengatur: guidelines serve as the basis for regulating various
provisions governing:
1. Pembentukan Komite Risiko dan Kapital; 1. Establishment of the Risk and Capital Committee;
2. Keanggotaan Komite Risiko dan Kapital; 2. Membership of the Risk and Capital Committee;
3. Tugas dan kegiatan Komite Risiko dan Kapital; dan 3. Duties and activities of the Risk and Capital Committee;
and
4. Ketentuan Pengambilan Keputusan (Direktur yang 4. Rules for Decision-Making (the Director serving as a
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
duduk sebagai Anggota Tetap Komite bertindak Permanent Member of the Committee acts as the
sebagai Pejabat Berwenang Memutus, Kuorum, Authorized Decision-Making Officer, including quorum
Pemberian Kuasa dan pengambilan keputusan requirements, delegation of authority, and circular
secara sirkuler). decision-making processes).
Komposisi dan Profil Komite Risiko dan Composition and Profile of the Risk and
Kapital Capital Committee
Berdasarkan Surat Keputusan Direksi No. SK-008/SMI/0422 Based on the Decree of the Board of Directors No. SK-008/
tanggal 27 April 2022, komposisi Komite Risiko dan Kapital SMI/0422 dated April 27, 2022, the composition of the Risk
tahun 2025 ditetapkan sebagai berikut: and Capital Committee in 2025 is as follows:
Ketua Direktur Utama
Head President Director
Sekretaris Kepala Divisi Manajemen Risiko Terintegrasi (DMRT)
Secretary Head of Integrated Risk Management Division
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1. Direktur Utama
President Director
2. Direktur Pembiayaan dan Investasi
Director of Financing and Investment
3. Direktur Operasional dan Keuangan
Director of Operations and Finance
4. Direktur Manajemen Risiko
Director of Risk Management
Anggota Tetap 5. Direktur Pembiayaan Publik dan Pengembangan Proyek
Permanent Member Director of Public Financing and Project Development
6. Kepala Divisi Manajemen Risiko Terintegrasi (DMRT)
Head of Integrated Risk Management Division
7. Kepala Divisi Evaluasi Pembiayaan dan Investasi (DEPI)
Head of Financing and Investment Evaluation Division
8. Kepala Divisi Evaluasi Lingkungan Sosial dan Teknik (DELST)
Head of Environmental, Social & Technical Evaluation Division
9. Kepala Divisi Pengelolaan Pembiayaan dan Investasi Khusus (DPPIK)
Head of Special Financing and Investment Management Division
1. Kepala Divisi Hukum (DH)
Head of Legal Division
2. Kepala Divisi Kepatuhan (DK)
Anggota Tidak Tetap Head of Compliance Division
Non-Permanent Member 3. Kepala Divisi Audit Internal (DAI)
Head of Internal Audit Division
4. Kepala Divisi yang terkait dengan risiko spesifik yang dikelola
Head of relevant divisions according to specific managed risk
Informasi mengenai profil anggota Komite Risiko dan Information regarding the profile of members of the Risk
Kapital yang menjabat tahun 2025 disajikan dalam and Capital Committee serving in 2025 is presented in
bagian Profil Pejabat Eksekutif pada Bab Tata Kelola the Profile of Executive Officials section in the Corporate
Perusahaan dalam Laporan Tahunan ini. Governance Chapter of this Annual Report.
Pelaksanaan Rapat Komite Risiko dan Implementation of the Risk and Capital
Kapital Committee Meetings
Di tahun 2025, Komite Risiko dan Kapital In 2025, the Risk and Capital Committee held 4 (four)
menyelenggarakan rapat sebanyak 4 (empat) kali. meetings. Details of the discussion agenda and
Rincian agenda pembahasan serta tingkat kehadiran attendance level of members of the Risk and Capital
anggota Komite Risiko dan Kapital dalam setiap rapat Committee at each meeting are presented as follows:
disajikan sebagai berikut:
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
1. Tindak Lanjut Keputusan KRK Periode Sebelumnya
2. Risk Management Approval Triwulan IV 2024
a. Laporan Profil Risiko Perseroan/Korporasi Triwulan IV 2024
b. Laporan Profil Risiko UUS Triwulan IV 2024
c. Laporan Risk Appetite Statement (RAS) Triwulan IV 2024
21 Januari 2025 d. Tingkat Kesehatan Perseroan Tahun 2024
1.
January 21, 2025 1. Follow-Up on Decisions of the Risk and Capital Committee from the Previous Period
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
2. Risk Management Approval for Q4 2024
a. Corporate Risk Profile Report for Q4 2024
b. Sharia Business Unit Risk Profile Report for Q4 2024
c. Risk Appetite Statement (RAS) Report for Q4 2024
d. Company Soundness Level for 2024
1. Tindak Lanjut Keputusan KRK Periode Sebelumnya
2. Risk Management Approval Triwulan I 2025
a. Laporan Profil Risiko Perseroan/Korporasi Triwulan I 2025
b. Laporan Profil Risiko UUS Triwulan I 2025
c. Laporan Risk Appetite Statement (RAS) Triwulan I 2025
d. Pengkinian Risk Appetite Statement (RAS)
30 April 2025 e. Pengkinian Metodologi Penilaian Profil Risiko
2.
April 30, 2025 1. Follow-Up on Decisions of the Risk and Capital Committee from the Previous Period
2. Risk Management Approval for Q1 2025
a. Corporate Risk Profile Report for Q1 2025
b. Sharia Business Unit Risk Profile Report for Q1 2025
c. Risk Appetite Statement (RAS) Report for Q1 2025
d. Update of Risk Appetite Statement (RAS)
e. Update of Risk Profile Assessment Methodology
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Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
1. Tindak Lanjut Keputusan KRK Periode Sebelumnya
2. Risk Management Approval Triwulan II 2025
a. Laporan Profil Risiko Perseroan/Korporasi Triwulan II 2025
b. Laporan Profil Risiko UUS Triwulan II 2025
c. Laporan Risk Appetite Statement (RAS) Triwulan II 2025
d. Rating Publik Non Pemda untuk BLU-RS dan PDAM
3. Risk Management Discussion
Arahan appetite dan Limite Pembiayaan Negative Pledge dan Clean Basis
29 Juli 2025 1. Follow-Up on Decisions of the Risk and Capital Committee from the Previous Period
3.
July 29, 2025 2. Risk Management Approval for Q2 2025
a. Corporate Risk Profile Report for Q2 2025
b. Sharia Business Unit Risk Profile Report for Q2 2025
c. Risk Appetite Statement (RAS) Report for Q2 2025
d. Non-Regional Government Public Rating for Public Service Agency Hospitals (BLU-RS)
and Regional Water Supply Companies (PDAM)
3. Update of Risk Profile Assessment Methodology
Direction on the appetite and financing limits for Negative Pledge and Clean Basis
financing
1. Tindak Lanjut Keputusan KRK Periode Sebelumnya
2. Risk Management Approval Triwulan III 2025
a. Laporan Profil Risiko Perseroan/Korporasi Triwulan III 2025
b. Laporan Profil Risiko UUS Triwulan III 2025
c. Laporan Risk Appetite Statement (RAS) Triwulan III 2025
3. Risk Management Discussion
a. Skor Risk Maturity Index (RMI) tahun buku 2024
b. Progress tindak lanjut Area of Improvement (AoI) Utama RMI tahun buku 2023 dan List
3 November 2025 AoI Utama RMI tahun buku 2024
4.
November 3, 2025 1. Follow-Up on Decisions of the Risk and Capital Committee from the Previous Period
2. Risk Management Approval for Q3 2025
a. Corporate Risk Profile Report for Q3 2025
b. Sharia Business Unit Risk Profile Report for Q2 2025
c. Risk Appetite Statement (RAS) Report for Q2 2025
3. Update of Risk Profile Assessment Methodology
a. Risk Maturity Index (RMI) Score for the 2024 Fiscal Year
b. Progress of Follow-Up Actions on the Key Areas of Improvement (AoI) of the RMI for
the 2023
Tabel Kehadiran Anggota Komite Risiko dan Kapital
Table of Attendance of Members of the Risk and Capital Committee
Jabatan di Persentase
Nama Perseroan Jabatan di Komite Jumlah Kehadiran Kehadiran
Name Position in the Position in the Committee Total Attendance Percentage of
Company Attendance
Direktur Utama Ketua / Anggota Tetap
Reynaldi Hermansjah 4 100%
President Director Head / Permanent Member
Direktur Manajemen
Risiko Anggota Tetap
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Pradana Murti 4 100%
Director of Risk Permanent Member
Management
Direktur Pembiayaan
dan Investasi Anggota Tetap
Sylvi Juniarty Gani 4 *) 100%
Director of Financing Permanent Member
and Investment
Direktur Operasional
dan Keuangan Anggota Tetap
Aradita Priyanti 4 100%
Director of Operations Permanent Member
and Finance
Direktur Pembiayaan
Publik &
Pengembangan Proyek Anggota Tetap
Faaris Pranawa 4 100%
Director of Public Permanent Member
Financing & Project
Development
Kepala DMRT
Head of Head of Sekretaris / Anggota Tetap
Peggy Fathiya 4 100%
Integrated Risk Secretary / Permanent Member
Management Division
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Tabel Kehadiran Anggota Komite Risiko dan Kapital
Table of Attendance of Members of the Risk and Capital Committee
Jabatan di Persentase
Nama Perseroan Jabatan di Komite Jumlah Kehadiran Kehadiran
Name Position in the Position in the Committee Total Attendance Percentage of
Company Attendance
Kepala DEPI
Head of Head of
Anggota Tetap
Hendry Financing and 4 100%
Permanent Member
Investment Evaluation
Division
Kepala DELST
Head of Head of
Anggota Tetap
Gan Gan Dirgantara Environmental, Social 4 100%
Permanent Member
& Technical Evaluation
Division
Kepala DPPIK
Head of Head of
Anggota Tetap
Hatta Muttaqin Special Financing 4 100%
Permanent Member
and Investment
Management Division
*) 1 (satu) kehadiran dengan SKU
*) 1 (one) attendance with SKU
Tugas dan Kegiatan Komite Risiko dan Duties and Responsibilities of the Risk and
Kapital Capital Committee
Tugas dan kegiatan Komite Risiko dan Kapital adalah The duties and responsibilities of the Risk and Capital
sebagai berikut: Committee include:
1. Melakukan pembahasan laporan pemantauan risk 1. Discuss monitoring reports on the Company’s risk
appetite Perseroan. appetite.
2. Menetapkan kerangka dan strategi pengelolaan 2. Determine the risk management framework and
risiko sesuai dengan taksonomi risiko Perseroan strategy in accordance with the Company’s risk
berdasarkan Rencana Kerja dan Anggaran Perseroan taxonomy, based on the Company’s Work Plan and
(RKAP). Budget.
3. Melakukan pembahasan atas pengelolaan risiko- 3. Conduct discussions on the management of the
risiko Perseroan secara efektif dengan tetap Company’s risks effectively while observing the
memperhatikan prudential principle sesuai dengan prudential principle in accordance with the capital
kapital yang dimiliki serta risk appetite yang telah held and the established risk appetite.
ditetapkan.
4. Menetapkan action plan profil risiko korporasi 4. Determine the action plan on the corporate risk profile
berdasarkan taksonomi risiko Perseroan. based on the Company’s risk taxonomy.
5. Melakukan pembahasan Laporan Manajemen 5. Discuss Risk Management Reports, including
Risiko, antara lain: portofolio pembiayaan, kualitas financing portfolio, credit quality and others, as well as
pembiayaan, dan lain sebagainya, serta menetapkan determining the action plan for the reports (if needed). PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
action plan terhadap Laporan Manajemen Risiko
tersebut (jika diperlukan).
Pelaksanaan Tugas Komite Risiko dan Implementation of Duties of the Risk and
Kapital di Tahun 2025 Capital Committee in 2025
Selama tahun 2025, Komite Risiko dan Kapital telah During 2025, the Risk and Capital Committee carried out
melaksanakan tugasnya antara lain: its duties, among others, as follows:
1. Pembahasan dan pemberian persetujuan atas 1. Discussion and approval of the monitoring report on
laporan pemantauan risk appetite statement (RAS) the Risk Appetite Statement (RAS) and the assessment
dan penilaian Profil Risiko Perseroan (Korporasi of the Company’s Risk Profile (both Corporate and
maupun Individual UUS) yang meliputi seluruh Individual Sharia Business Unit) covering the entire
taksonomi risiko Perseroan untuk posisi Triwulan IV taxonomy of the Company’s risks for the positions of
2024, Triwulan I 2025, Triwulan II 2025, dan Triwulan III Q4 2024, Q1 2025, Q2 2025, and Q3 2025, including the
2025, termasuk pemenuhan tindak lanjut yang sedang fulfillment of follow-up actions that are currently in
berproses maupun yang telah selesai dilakukan. progress as well as those that have been completed.
2. Pembahasan dan pemberian persetujuan atas hasil 2. Discussion and approval of the results of the review
kaji ulang RAS dan metodologi penilaian Profil Risiko of the RAS and the methodology for assessing the
Perseroan yang disesuaikan dengan regulasi maupun Company’s Risk Profile, adjusted to the prevailing
kondisi Perseroan terkini. regulations and the Company’s current conditions. 605
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05 Tata Kelola Perusahaan
Good Corporate Governance
3. Pembahasan terkait manajemen risiko lainnya seperti 3. Discussion of other risk management matters such
penilaian Indeks Kematangan Risiko/Risk Maturity as the assessment of the Risk Maturity Index (RMI),
Index (RMI), Laporan Tingkat Kesehatan Perseroan the Company Soundness Level Report for 2024, the
tahun 2024, portfolio pembiayaan dengan Negative financing portfolio with Negative Pledge and Clean
Pledge dan Clean Basis, dan implementasi Rating Basis, and the implementation of Non-Regional
Publik Non Pemda untuk BLU-RS dan PDAM. Government Public Rating for Public Service Agency
Hospitals (BLU-RS) and Regional Water Supply
Companies (PDAM).
Komite Aset dan Liabilitas Asset and Liability Committee
PT SMI membentuk Komite Aset dan Liabilitas sebagai PT SMI established the Asset and Liability Committee as
bagian dari Komite Risiko dan Kapital untuk memperkuat a sub-committee under the Risk and Capital Committee
perlindungan terhadap kepentingan Perseroan. Dengan to protect the Company’s interests. Along with business
meningkatnya kebutuhan pengelolaan keuangan, developments, the Company designated the Asset and
pada tahun 2020 komite ini dipisahkan menjadi komite Liability Committee as an independent committee in
tersendiri. Komite Aset dan Liabilitas mendukung Direksi 2020, focusing on supporting the Board of Directors’
dalam pengelolaan aset, likuiditas, strategi cost of duties, including asset management, liquidity, cost of
fund, serta yang berhubungan dengan Asset & Liability fund strategies, and matters related to Asset & Liability
Management (ALM). yang lebih terarah. Management (ALM).
Piagam Komite Aset dan Liabilitas Asset and Liability Committee Charter
Piagam Komite Aset dan Liabilitas ditetapkan melalui The Asset and Liability Committee Charter was established
Surat Keputusan Direksi No. SK-006/SMI/0620 tanggal under the Decree of the Board of Directors No. SK-006/
22 Juni 2020 dan diperbarui terakhir dengan Surat SMI/0620 dated June 22, 2020, and most recently updated
Keputusan Direksi No. SK-003/SMI/0422 tanggal 27 April through Decree No. SK-003/SMI/0422 dated April 27, 2022.
2022. Piagam tersebut mengatur antara lain: The charter outlines and regulates the following:
1. Pembentukan Komite Aset dan Liabilitas; 1. Establishment of the Asset and Liability Committee;
2. Keanggotaan Komite Aset dan Liabilitas; 2. Membership of the Asset and Liability Committee;
3. Tugas dan kegiatan Komite Aset dan Liabilitas; dan 3. Duties and activities of the Asset and Liability
Committee; and
4. Ketentuan Pengambilan Keputusan (Direktur yang 4. Decision-Making Provisions (the Director serving as
duduk sebagai Anggota Tetap Komite bertindak a Permanent Member of the Committee acts as the
sebagai Pejabat Berwenang Memutus, Kuorum, Authorized Decision-Making Officer, including quorum
Pemberian Kuasa dan pengambilan keputusan requirements, delegation of authority, and circular
secara sirkuler). decision-making processes).
Komposisi dan Profil Komite Aset dan Composition and Profile of the Asset and
Liabilitas Liability Committee
Berdasarkan Surat Keputusan Direksi No. SK-001/SMI/0225 Based on the Board of Directors Decree No. SK- SK-001/
tanggal 25 Februari 2025, komposisi Komite Aset dan SMI/0225 dated February 25, 2025, the composition of
Liabilitas tahun 2025 ditetapkan sebagai berikut: the Asset and Liability Committee for 2025 is determined
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
as follows:
Ketua Direktur Operasional & Keuangan
Head Operations & Finance Director
Sekretaris Kepala Divisi Keuangan & Hubungan Investor (DKHI)
Secretary Head of Finance & Investor Relations Division
1. Direksi
Board of Directors
2. Kepala Divisi Keuangan & Hubungan Investor (DKHI)
Anggota Tetap Head of Finance & Investor Relations Division
Permanent Member 3. Kepala Divisi Manajemen Risiko Terintegrasi (DMRT)
Head of Integrated Risk Management Division
4. Kepala Divisi Pembiayaan Publik dan Pengembangan Proyek (DPPP)
Head of Public Financing & Project Development Division
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1. Kepala Divisi Akuntansi & Administrasi Aset (DAA)
Head of Accounting & Asset Administration Division
2. Kepala Divisi Riset Ekonomi (DRE)
Head of Economic Research Division
3. Kepala Divisi Pembiayaan I (DP I)
Head of Financing Division I
4. Kepala Divisi Pembiayaan II (DP II)
Head of Financing Division II
5. Kepala Divisi Usaha Syariah (DUS)
Head of Sharia Business Division
6. Kepala Divisi Pembiayaan Berkelanjutan (DPB)
Anggota Tidak Tetap Head of Sustainable Financing Division
Non-Permanent Member 7. Kepala Divisi Penyertaan Modal (DPM)
Head of Equity Investment Division
8. Kepala Divisi Pembiayaan Publik I (DPPU I)
Head of Public Financing Division I
9. Kepala Divisi Pembiayaan Publik II (DPPU II)
Head of Public Financing Division II
10. Kepala Divisi Pembiayaan Publik III (DPPU III)
Head of Public Financing Division II
11. Kepala Divisi Pengelolaan Operasional Pembiayaan (DPOP)
Head of Financing Operational Management Division
12. Kepala Divisi terkait undangan Sekretaris Komite
Relevant Head of Division as invited by the Committee Secretary
Informasi mengenai profil anggota Komite Aset dan Information regarding the profile of members of the Asset
Liabilitas yang menjabat tahun 2025 disajikan dalam and Liability Committee serving in 2025 is presented in
bagian Profil Pejabat Eksekutif pada Bab Tata Kelola the Profile of Executive Officials section in the Corporate
Perusahaan dalam Laporan Tahunan ini. Governance Chapter of this Annual Report.
Pelaksanaan Rapat Komite Aset dan Implementation of the Asset and Liability
Liabilitas Committee Meetings
Di tahun 2025, Komite Aset dan Liabilitas menyelenggarakan In 2025, the Asset and Liability Committee held 6
rapat sebanyak 6 (enam) kali. Rincian agenda pembahasan (six) meetings. Details of the discussion agenda and
serta tingkat kehadiran anggota Komite Aset dan Liabilitas attendance level of members of the Asset and Liability
dalam setiap rapat disajikan sebagai berikut: Committee at each meeting are presented as follows:
Tabel Agenda Rapat Komite Aset dan Liabilitas
Table of the Asset and Liability Committee Meeting Agenda
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
• Economic Review dari DRE
• Strategi ALM 2025
• Rencana Fundraising
3 Januari 2025 • Review Metodologi Perhitungan LAFR (Liquid Asset to Financing Ratio)
1.
January, 3 2025 • Economic Review from the Economic Research Division
• ALM Strategy for 2025
• Fundraising Plan
• Review of the Methodology for Calculating LAFR (Liquid Asset to Financing Ratio)
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
• Economic Review dari DRE
• Update Pengelolaan Treasury
• Tindak lanjut atas hasil audit OJK terkait Komite Penempatan Dana
• Fundraising
9 April 2025
2. • Economic Review from the Economic Research Division
April 9, 2025
• Update on Treasury Management
• Follow-up on the audit results of Financial Services Authority related to the Fund Placement
Committee
• Fundraising
• Economic Review dari DRE
• Update Pengelolaan Treasury
• Usulan penyesuaian perhitungan COD dan BLR USD
12 Juni 2025 • Rencana Fundraising SLL 2023
3.
June 12, 2025 • Economic Review from the Economic Research Division
• Update on Treasury Management
• Proposal for adjustments to the calculation of the COD and BLR in USD
• SLL 2023 Fundraising Plan
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Tabel Agenda Rapat Komite Aset dan Liabilitas
Table of the Asset and Liability Committee Meeting Agenda
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
• Update Pengelolaan Treasury
• Update Pinjaman Sindikasi SLL 2025
• Permohonan Persetujuan
• Rencana Obligasi Ritel
22 Juli 2025 • Economic Review
4.
July 22, 2025 • Update on Treasury Management
• Update on the SLL 2025 Syndicated Loan
• Request for Approval
• Retail Bond Plan
• Economic Review
• Economic Review
• Update Pengelolaan Treasury
16 September 2025
• Rencana Fundraising
5. September 16,
• Economic Review
2025
• Update on Treasury Management
• Fundraising Plan
• Economic Review
• Update Pengelolaan Treasury
• Pengelolaan Likuiditas
• Rencana Fundraising
Desember 2025 • Implementasi Value at Risk
6.
December 2025 • Economic Review
• Update on Treasury Management
• Liquidity Management
• Fundraising Plan
• Implementation of Value at Risk
Tabel Kehadiran Anggota Komite Aset dan Liabilitas
Table of Attendance of Members of the Asset and Liability Committee
Persentase
Jabatan di Komite Jumlah
Nama Jabatan di Perseroan Position in the Kehadiran
Kehadiran
Name Position in the Company Percentage of
Committee Total Attendance
Attendance
Direktur Ketua
Aradita Priyanti 6 100%
Director Head
Direktur Utama Anggota Tetap
Reynaldi Hermansjah 6 100%
President Director Permanent Member
Direktur Anggota Tetap
Sylvi J. Gani 6 100%
Director Permanent Member
Direktur Anggota Tetap
Pradana Murti 6 100%
Director Permanent Member
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Direktur Anggota Tetap
Faaris Pranawa 6 100%
Director Permanent Member
Kepala Divisi Sekretaris
Willy Sam 6 100%
Head of Division Secretary
Kepala Divisi Anggota Tetap
Peggy Fathiya 6 100%
Head of Division Permanent Member
Kepala Divisi Anggota Tidak Tetap
I Kadek Dian Sutrisna 6 100%
Head of Division Non-Permanent Member
Kepala Divisi Anggota Tidak Tetap
Benedictus Pudji Hartono 5 83,33%
Head of Division Non-Permanent Member
Kepala Divisi Anggota Tidak Tetap
Ekha Yudha Pratama 5 83,33%
Head of Division Non-Permanent Member
Kepala Divisi Anggota Tidak Tetap
Erdian Dharmaputra 5 83,33%
Head of Division Non-Permanent Member
Adri Asmoro Laksono Kepala Divisi Anggota Tidak Tetap
5 83,33%
Poesoro Head of Division Non-Permanent Member
Kepala Divisi Anggota Tidak Tetap
Syahrial Noviananta 3 50%
Head of Division Non-Permanent Member
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Tabel Kehadiran Anggota Komite Aset dan Liabilitas
Table of Attendance of Members of the Asset and Liability Committee
Persentase
Jabatan di Komite Jumlah
Nama Jabatan di Perseroan Position in the Kehadiran
Kehadiran
Name Position in the Company Percentage of
Committee Total Attendance
Attendance
Kepala Divisi Anggota Tidak Tetap
Arief Subekti 2 33,33%
Head of Division Non-Permanent Member
Kepala Divisi Anggota Tidak Tetap
Isnaputra Iskandar 2 33,33%
Head of Division Non-Permanent Member
Richard Kepala Divisi Anggota Tidak Tetap
1 25%
Mangapul Leornad Silaen Head of Division Non-Permanent Member
Tugas, Tanggung Jawab dan Wewenang Duties and Responsibilities of the Asset
Komite Aset dan Liabilitas and Liability Committee
Komite Aset dan Liabilitas memiliki tugas dan tanggung The duties and responsibilities of the Asset and Liability
jawab sebagai berikut: Committee include:
1. Merumuskan strategi tahunan Asset & Liabilities (ALM) 1. Formulate annual Asset & Liabilities Management
yang mencakup pengelolaan eksposur risiko suku (ALM) strategy that includes risk exposure
bunga, mata uang, likuiditas dan strategi pengelolaan management for interest rate, currency, liquidity, and
dana untuk mengoptimalkan hasil pengelolaan strategy for fund management to optimize the result,
dana, dan alternatif sumber pendanaan untuk and alternative funding sources to minimize funding
meminimalkan biaya dana dalam rangka mencapai cost to achieve the ALM strategy in accordance with
strategi ALM berdasarkan RKAP; the Company’s Work Plan and Budget;
2. Melakukan monitoring dan menetapkan tindak 2. Monitor and determine the necessary follow-up
lanjut yang diperlukan dalam pengelolaan eksposur actions in managing the Company’s market risk
risiko pasar (termasuk suku bunga dan mata uang) exposure (including interest rates and currencies)
dan likuiditas, pengelolaan dana, dan kegiatan and liquidity, fund management, and the Company’s
transaksional ALM Perseroan; ALM transactional activities;
3. Penyampaian Cost of Fund (COF) dan realisasi yield 3. Submission of Cost of Fund (COF) and realization of
pembiayaan serta pembahasan pricing guideline financing yield, and discussion on pricing guidelines
untuk mencapai target keuangan Perseroan; dan to achieve the Company’s financial target; and
4. Membahas dan/atau memberikan persetujuan 4. Discuss and/or provide approval for proposed
terhadap usulan ketentuan pengelolaan dana antara provisions on fund management, including limits,
lain limit, metodologi, parameter dan/atau kriteria methodologies, parameters, and/or criteria,
dengan memperhatikan transaksi keuangan yang considering the financial transactions undertaken,
dilakukan, kondisi makro, dan alternatif lindung nilai macroeconomic conditions, and hedging alternatives
yang tersedia di pasar. available in the market.
Pelaksanaan Tugas Komite Aset dan Implementation of Duties of the Asset and
Liabilitas di Tahun 2025 Liability Committee in 2025
Selama tahun 2025, Komite Aset dan Liabilitas telah During 2025, the Asset and Liability Committee carried PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
melaksanakan tugasnya antara lain: out its duties, among others, as follows:
1. Merumuskan strategi tahunan Asset & Liabilities 1. Formulate the annual strategy of Asset and Liabilities
Management (ALM) yang mencakup pengelolaan Management (ALM), covering the management
eksposur risiko suku bunga, mata uang, likuiditas serta of exposure to interest rate risk, currency risk, and
strategi pengelolaan dana untuk mengoptimalkan liquidity risk, as well as fund management strategies
hasil pengelolaan dana dan alternatif sumber to optimize fund management returns and identify
pendanaan untuk meminimalkan biaya dana dalam alternative funding sources to minimize the cost of
rangka mencapai strategi ALM berdasarkan RKAP. funds in order to achieve the ALM strategy based on
the Company’s RKAP.
2. Melakukan monitoring dan menetapkan tindak 2. Conduct monitoring and determine the necessary
lanjut yang diperlukan dalam pengelolaan eksposur follow-up actions in managing exposure to market
risiko pasar (termasuk suku bunga dan mata uang) risks (including interest rate and currency risks) and
dan likuiditas, pengelolaan dana dan kegiatan liquidity, fund management, and the Company’s ALM
transaksional ALM Perseroan. transactional activities.
3. Penyampaian Cost of Fund (COF) dan realisasi yield 3. Present the Cost of Fund (COF) and the realization of
pembiayaan serta pembahasan pricing guideline financing yields, as well as discuss pricing guidelines
untuk mencapai target keuangan Perseroan. to achieve the Company’s financial targets.
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05 Tata Kelola Perusahaan
Good Corporate Governance
4. Membahas dan/atau memberikan persetujuan 4. Discuss and/or approve proposals related to
terhadap usulan ketentuan pengelolaan dana antara fund management provisions, including limits,
lain limit, metodologi, parameter dan/atau kriteria methodologies, parameters, and/or criteria, taking
dengan memperhatikan transaksi keuangan yang into account the financial transactions undertaken.
dilakukan. Beberapa usulan di sepanjang tahun Several proposals during 2025 include: (i) liquidity
2025 antara lain: (i) pengelolaan likuiditas dengan management using a three-bucket framework, which
kerangka 3 bucket, yaitu konsep yang memisahkan separates assets based on maturity and purpose, and
aset berdasarkan jangka waktu dan tujuan, dan (ii) the Value at Risk (VaR) concept used to measure
(ii) konsep Value at Risk (VaR) yang digunakan the maximum potential loss of a securities portfolio
untuk mengukur potensi kerugian maksimum atas within a specified time horizon and confidence level.
portofolio surat berharga di rentang waktu dan level
kepercayaan tertentu.
5. Memberikan persetujuan atas produk pendanaan 5. Approve new funding products in the form of SMI Retail
baru berupa Obligasi Ritel SMI (ORIS) dan zero coupon Bonds (ORIS) and zero coupon bonds as alternative
bond sebagai alternatif pendanaan baru sources of funding.
6. Poin-poin di atas sejalan dengan tugas dan kegiatan 6. The above points are in line with the duties and
Komite ALM yang tertuang dalam SK Direksi No. SK- activities of the ALM Committee as stipulated in the
001/SMI/0225 tanggal 25 Februari 2025. Decree of the Board of Directors No. SK-001/SMI/0225
dated February 25, 2025.
Komite Pembiayaan Financing Committee
PT SMI membentuk Komite Pembiayaan pada tahun 2009 PT SMI established the Financing Committee in 2009
sebagai bagian dari upaya akselerasi pertumbuhan as part of its efforts to accelerate business growth. This
usaha. Komite ini bertanggung jawab meninjau, Committee is responsible for reviewing, examining, and
menelaah, dan mengevaluasi setiap usulan pembiayaan evaluating each proposed project financing, including
proyek, termasuk pembiayaan syariah, pembiayaan sharia financing, sustainable financing, and public
berkelanjutan, serta pembiayaan publik, sebelum financing, before providing strategic decisions that
memberikan keputusan strategis yang mendukung support the achievement of the Company’s objectives.
pencapaian tujuan perusahaan.
Piagam Komite Pembiayaan Financing Committee Charter
Piagam Komite Pembiayaan diatur melalui Surat The Financing Committee Charter is established under
Keputusan Direksi No. SK-001/SMI/0126 tanggal 19 Januari the Decree of the Board of Directors No. SK-001/SMI/0126
2026, yang memuat ketentuan mengenai: dated January 19, 2026, which regulates the following:
1. Pembentukan Komite Pembiayaan; 1. Establishment of the Financing Committee;
2. Keanggotaan Komite Pembiayaan; 2. Membership of the Financing Committee;
3. Ketentuan kuorum rapat dan pengambilan keputusan 3. Quorum requirements for meetings and decision-
yang dikategorikan berdasarkan divisi pengusul; dan making categorized by proposing division; and
4. Tugas dan kegiatan Komite Pembiayaan termasuk 4. Duties and activities of the Financing Committee,
tugas Sekretaris Komite. including the responsibilities of the Committee
Secretary.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Komposisi dan Profil Komite Pembiayaan Composition and Profile of the Financing
Committee
Berdasarkan Surat Keputusan Direksi No. SK-001/SMI/0126 Based on the Decree of the Board of Directors SK-001/
tanggal 19 Januari 2026, komposisi Komite Pembiayaan SMI/0126 dated January 19, 2026, the composition of the
ditetapkan sebagai berikut: Financing Committee for 2025 is determined as follows:
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Ketua Direktur yang Membawahi Divisi Pengusul Transaksi
Head Director in Charge of the Transaction Proposing Division
Kepala Divisi-divisi Pengusul Pembiayaan, terdiri dari:
Head of financing proposing divisions, namely:
1. Kepala Divisi Pembiayaan I (DP I)
Head of Financing Division I
2. Kepala Divisi Pembiayaan II (DP II)
Head of Financing Division II
3. Kepala Divisi Pembiayaan Berkelanjutan
Sekretaris Head of Sustainable Financing Division
Secretary 4. Kepala Divisi Pembiayaan Publik I (DPPU I)
Head of Public Financing Division I
5. Kepala Divisi Pembiayaan Publik II (DPPU II)
Head of Public Financing Division II
6. Kepala Divisi Pembiayaan Publik III (DPPU III)
Head of Public Financing Division III
7. Kepala Divisi Usaha Syariah (DUS
Head of Sharia Business Division
1. Direktur Utama
President Director
2. Direktur Pembiayaan & Investasi
Director of Financing & Investment
3. Direktur Operasional & Keuangan
Director of Operations & Finance
4. Direktur Manajemen Risiko
Director of Risk Management
5. Direktur Pembiayaan Publik dan Pengembangan Proyek
Director of Public Financing and Project Development
6. Kepala Divisi Pembiayaan & Investasi I (DP I)
Head of Financing & Investment Division I
7. Kepala Divisi Pembiayaan & Investasi II (DP II)
Head of Financing & Investment Division II
8. Kepala Divisi Pembiayaan Berkelanjutan (DPB)
Anggota Tetap Head of the Sustainable Financing Division
Permanent Member 9. Kepala Divisi Pembiayaan Publik I (DPPU I)
Head of Public Financing Division I
10. Kepala Divisi Pembiayaan Publik II (DPPU II)
Head of Public Financing Division II
11. Kepala Divisi Pembiayaan Publik III (DPPU III)
Head of Public Financing Division III
12. Kepala Divisi Usaha Syariah (DUS)
Head of Sharia Business Division
13. Kepala Divisi Hukum (DH)
Head of Legal Division
14. Kepala Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Head of Financing & Investment Evaluation Division
15. Kepala Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Head of Environmental, Social & Technical Evaluation Division
16. Kepala Divisi Kepatuhan (DK)
Head of Compliance Division
Anggota Tidak Tetap Kepala Divisi Keuangan & Hubungan Investor (DKHI)
Non-Permanent Member Head of Finance & Investor Relations Division
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Informasi mengenai profil anggota Komite Pembiayaan Information regarding the profile of members of the
yang menjabat tahun 2025 disajikan dalam bagian Profil Financing Committee serving in 2025 is presented in
Pejabat Eksekutif pada Bab Tata Kelola Perusahaan the Profile of Executive Officials section in the Corporate
dalam Laporan Tahunan ini. Governance Chapter of this Annual Report.
Pelaksanaan Rapat Komite Pembiayaan Implementation of the Financing
Committee Meetings
Di tahun 2025, Komite Pembiayaan menyelenggarakan In 2025, the Asset and Liability Committee held 39 (thirty-
rapat sebanyak 39 (tiga puluh sembilan) kali. Rincian nine) meetings. Details of the discussion agenda and
agenda pembahasan serta tingkat kehadiran anggota attendance level of members of the Asset and Liability
Komite Pembiayaan dalam setiap rapat disajikan sebagai Committee at each meeting are presented as follows:
berikut:
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Tabel Agenda Rapat Komite Pembiayaan
Table of Meeting Agenda of the Financing Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
Komite Pembiayaan kepada PTN BH - Universitas Gadjah Mada
1. 03/02/2025
Financing Committee for PTN BH – Gadjah Mada University
Pembahasan Usulan Fasilitas Fasilitas Pembiayaan kepada PT Kereta Api Indonesia
(Persero) – Pengadaan 612 Unit Kereta New Generation
2. 05/02/2025
Discussion on the Proposed Financing Facilities to PT Kereta Api Indonesia (Persero) –
Procurement of 612 New Generation Train Units
Komite Pembiayaan kepada Perusahaan Daerah Air Minum (PDAM) Surya Sembada Kota
Surabaya
3. 20/02/2025
Financing Committee for Perusahaan Daerah Air Minum (PDAM) Surya Sembada,
Surabaya City
Komite Pembiayaan kepada PT MCG- PLTP Ijen
4. 20/03/2025
Financing Committee for PT MCG – Ijen Geothermal Power Plant
Komite Pembiayaan Perpanjangan Fasilitas Pembiayaan Non-Cash kepada PT Armada
Gema Nusantara
5. 27/03/2025
Financing Committee for the Extension of Non-Cash Financing Facilities to PT Armada
Gema Nusantara
Komite Pembiayaan kepada PT Intaran Enam Belas Gemilang
6. 09/04/2025
Financing Committee for PT Intaran Enam Belas Gemilang
Komite Pembiayaan kepada PT Izmi Power Mandiri
7. 14/04/2025
Financing Committee for PT Izmi Power Mandiri
Rapat Komite Pembiayaan Kota Manado
8. 14/05/2025
Financing Committee Meeting for Manado City
Komite Pembiayaan kepada PT Oki Pulp & Paper Mills
9. 15/05/2025
Financing Committee for PT OKI Pulp & Paper Mills
Pembahasan Usulan Tambahan Fasilitas Pembiayaan kepada PT Kereta Api Indonesia
(Persero) – Proyek LRT Jabodebek
10. 23/05/2025
Discussion on the Proposed Additional Financing Facilities to PT Kereta Api Indonesia
(Persero) – Jabodebek LRT Project
Komite Pembiayaan kepada PT Bagus Karya
11. 03/06/2025
Financing Committee for PT Bagus Karya
Komite Pembiayaan kepada PT Citra Marga Nusaphala Persada Tbk
12. 05/06/2025
Financing Committee for PT Citra Marga Nusaphala Persada Tbk
Komite Pembiayaan kepada PT Jasamarga Jalanlayang Cikampek
13. 18/06/2025
Financing Committee for PT Jasamarga Jalanlayang Cikampek
Pembahasan Usulan Fasilitas Pembiayaan atas nama PT Sejahteraraya Anugrahjaya Tbk
(“SRAJ”)
14. 23/06/2025
Discussion on the Proposed Financing Facilities for PT Sejahteraraya Anugrahjaya Tbk
(“SRAJ”)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Komite Pembiayaan Kepada PT Krakatau Bandar Samudera
15. 10/07/2025
Financing Committee for PT Krakatau Bandar Samudera
Komite Pembiayaan kepada PT Fajar Mitra Krida Abadi
16. 14/07/2025
Financing Committee for PT Fajar Mitra Krida Abadi
Pembahasan Usulan Fasilitas Fasilitas Pembiayaan kepada PT Hutama Karya (Persero)
(“PT HK”) – Ruas Akses Tanjung Priok
17. 31/07/2025
Discussion on the Proposed Financing Facilities to PT Hutama Karya (Persero) – Tanjung
Priok Access Section
Komite Pembiayaan kepada PT Oki Pulp & Paper Mills
18. 02/08/2025
Financing Committee for PT OKI Pulp & Paper Mills
Komite Pembiayaan Kepada PT Pertamina International Shipping
19. 06/08/2025
Financing Committee for PT Pertamina International Shipping
Komite Pembiayaan Kepada PT Pertamina Hulu Energi
20. 06/08/2025
Financing Committee for PT Pertamina Hulu Energi
Komite Pembiayaan kepada PT Pertamina International Shipping
21. 06/08/2025
Financing Committee for PT Pertamina International Shipping
Komite Pembiayaan Kepada PT Tower Bersama Infrastructure Tbk
22. 15/08/2025
Financing Committee for PT Tower Bersama Infrastructure Tbk
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Tabel Agenda Rapat Komite Pembiayaan
Table of Meeting Agenda of the Financing Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
Komite Pembiayaan kepada PT Memiontech
23. 15/08/2025
Financing Committee for PT Memiontech
Komite Pembiayaan Non-Cash kepada PT Pelabuhan Patimban Internasional
24. 19/08/2025
Financing Committee for Non-Cash Financing to PT Pelabuhan Patimban Internasional
Komite Pembiayaan kepada PT Oki Pulp & Paper Mills
25. 02/09/2025
Financing Committee for PT OKI Pulp & Paper Mills
Komite Pembiayaan Restrukturisasi PT PP Semarang Demak
26. 09/09/2025
Financing Committee for the Restructuring of PT PP Semarang Demak
Komite Pembiayaan kepada PT Prakarsa Energi Sejahtera
27. 18/09/2025
Financing Committee for PT Prakarsa Energi Sejahtera
Pembahasan Usulan Pemberian Fasilitas Pembiayaan kepada PT Sumber Energi Surya
Morowali (“Debitur” atau “SESMO”)
28. 22/09/2025
Discussion on the Proposed Provision of Financing Facilities to PT Sumber Energi Surya
Morowali (“Debtor” or “SESMO”)
Rapat Komite Pembiayaan Kab. Lampung Tengah
29. 25/09/2025
Financing Committee Meeting for Central Lampung Regency
Pembahasan Usulan Pemberian Fasilitas Pembiayaan kepada PT Kereta Commuter
Indonesia (“KCI”)
30. 25/09/2025
Discussion on the Proposed Provision of Financing Facilities to PT Kereta Commuter
Indonesia (“KCI”)
Komite Pembiayaan kepada Pemerintah Kabupaten Badung
31. 03/10/2025
Financing Committee for the Government of Badung Regency
Komite Pembiayaan kepada PT Pelayanan Listrik Nasional Batam
32. 08/10/2025
Financing Committee for PT Pelayanan Listrik Nasional Batam
Pembahasan Usulan Fasilitas Pembiayaan kepada PT Hutama Panorama Sitinjau Lauik
(“PT HPSL”)
33. 13/11/2025
Discussion on the Proposed Financing Facilities to PT Hutama Panorama Sitinjau Lauik (“PT
HPSL”)
Komite Pembiayaan kepada PT TWC & BHIVA (Joint Borrower) Financing Committee for PT
34. 03/12/2025
TWC & BHIVA (Joint Borrowers)
Komite Pembiayaan kepada PT API & Injourney (Joint Borrower)
35. 03/12/2025
Financing Committee for PT API & Injourney (Joint Borrowers)
Komite Pembiayaan kepada PT PT Angkasa Pura Indonesia & Injourney (Joint Borrower)
36. 03/12/2025
Financing Committee for PT Angkasa Pura Indonesia & Injourney (Joint Borrowers)
Pembahasan Usulan Persetujuan Restrukturisasi a.n PT Waskita Bumi Wira (“WBW”)
37. 10/12/2025 Discussion on the Proposed Approval for the Restructuring of PT Waskita Bumi Wira
(“WBW”)
Komite KP Pembiayaan Kepada PT Nindya Karya
38. 17/12/2025
KP Financing Committee for PT Nindya Karya
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Pembahasan Usulan Pemberian Fasilitas Pembiayaan Kepada PT Perusahaan Listrik
Negara (Persero) (“PLN”)
39. 18/12/2025
Discussion on the Proposed Provision of Financing Facilities to PT Perusahaan Listrik Negara
(Persero) (“PLN”)
Tabel Kehadiran Anggota Komite Pembiayaan
Table of Attendance of Members of the Financing Committee
Jabatan di Persentase
Jabatan di Komite Jumlah Kehadiran
Nama Perseroan Position in the Total Attendance
Kehadiran
Name Position in the Percentage of
Committee
Company Attendance
Direktur Utama Anggota Tetap
Reynaldi Hermansjah 40 100%
President Director Permanent Member
Direktur Manajemen
Risiko Anggota Tetap
Pradana Murti 40 100%
Director of Risk Permanent Member
Management
613
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Tabel Kehadiran Anggota Komite Pembiayaan
Table of Attendance of Members of the Financing Committee
Jabatan di Persentase
Jabatan di Komite Jumlah Kehadiran
Nama Perseroan Position in the Total Attendance
Kehadiran
Name Position in the Percentage of
Committee
Company Attendance
Direktur Operasional dan
Keuangan Anggota Tetap
Aradita Priyanti 40 100%
Director of Operations Permanent Member
and Finance
Direktur Pembiayaan
dan Investasi Anggota Tetap
Sylvi J. Gani 36 100%
Director of Financing and Permanent Member
Investment
Direktur Pembiayaan
Publik dan
Pengembangan Proyek Anggota Tetap
Faaris Pranawa 4 100%
Director Public Permanent Member
Financing and Project
Development
Kepala Divisi
Pembiayaan
Anggota Tetap
Benedictus Pudji Hartono Berkelanjutan 10 100%
Permanent Member
Head of Sustainable
Financing
Kepala Divisi Hukum Anggota Tetap
Bibin Sibyanudin 40 100%
Head of Legal Division Permanent Member
Kepala Divisi Evaluasi
Pembiayaan Investasi
Anggota Tetap
Hendry Head of Financing & 40 100%
Permanent Member
Investment Evaluation
Division
Kepala Divisi Evaluasi
Lingkungan, Sosial dan
Teknik Anggota Tetap
Gan Gan Dirgantara 40 100%
Head of Social & Permanent Member
Technical Environmental
Evaluation Division
Kepala Divisi Kepatuhan
Anggota Tetap
M. Sjafari Head of Compliance 29 100%
Permanent Member
Division
Kepala Divisi Usaha
Syariah Anggota Tetap
Arief Subekti 17 100%
Head of Sharia Business Permanent Member
Division
Kepala Divisi
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Pembiayaan & Investasi Anggota Tetap
Richard Silaen 3 100%
Head of Financing & Permanent Member
Investment Division
Kepala Divisi
Pembiayaan 2 Anggota Tetap
Ekha Yudha Pratama 9 100%
Head of Financing Permanent Member
Division 2
Kepala Divisi
Pembiayaan Publik 1 Anggota Tetap
Erdian Dharmaputra 2 100%
Head of Financing Permanent Member
Division 1
Kepala Divisi
Anggota Tetap
Adri Asmoro Laksono Pembiayaan Publik 3
Anggota Tetap 2 100%
Poesoro Head of Public Financing
Permanent Member
Division 2
Kepala Divisi Keuangan
& Hubungan Investor Anggota Tidak Tetap
Willy Sam 9 100%
Head of Finance and Non-Permanent Member
Investor Relations
614
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Tabel Kehadiran Anggota Komite Pembiayaan
Table of Attendance of Members of the Financing Committee
Jabatan di Persentase
Jabatan di Komite Jumlah Kehadiran
Nama Perseroan Position in the Total Attendance
Kehadiran
Name Position in the Percentage of
Committee
Company Attendance
Kepala Divisi Riset dan
Ekonomi Anggota Tidak Tetap
I Kadek Dian Sutrisna 1 100%
Head of Economic Non-Permanent Member
Research Division
Kepala Divisi
Pengelolaan
Pembiayaan & Investasi
Anggota Tidak Tetap
Hatta Muttaqin Division 1 100%
Non-Permanent Member
Head of Financing
and Investment
Management Division
Tugas, Tanggung Jawab dan Wewenang Duties, Responsibilities, and Authorities of
Komite Pembiayaan the Committee
Tugas pokok Komite Pembiayaan adalah melakukan The main duty of the Financing Committee is to discuss
pembahasan dan memutuskan usulan pembiayaan, and decide on financing proposals, including sharia
termasuk pembiayaan syariah, pembiayaan financing, sustainable financing, and public financing,
berkelanjutan dan pembiayaan publik, beserta along with granting specific approvals related to such
persetujuan khusus terkait usulan pembiayaan tersebut. financing proposals. In addition, the Committee is also
Selain itu, komite juga bertanggung jawab untuk responsible for deciding, on a case-by-case basis,
memutuskan pengajuan secara kasus per kasus atas submissions related to matters/transactions as stipulated
hal/transaksi sebagaimana diatur dalam kebijakan in the financing policy.
pembiayaan.
Pelaksanaan Tugas Komite Pembiayaan Implementation of Duties of the Financing
di Tahun 2025 in 2025
Selama tahun 2025, Komite Pembiayaan telah During 2025, the Financing Committee carried out its
melaksanakan tugasnya antara lain: duties, among others, as follows:
1. Memberikan keputusan untuk persetujuan usulan 1. Provide decisions for the approval of proposed
Pembiayaan Badan Usaha maupun Pembiayaan Corporate Financing and Regional Financing.
Daerah.
2. Memberikan usulan penambahan dan perubahan 2. Provide proposals for the addition and amendment
affirmative covenant. of affirmative covenant.
3. Menyetujui persyaratan corrective action plan (‘CAP”) 3. Approve the requirements of the corrective action
dan daftar pelaporan rutin. plan (“CAP”) and the list of regular reporting.
KOMITE PENGEMBANGAN PROYEK PROJECT DEVELOPMENT AND
DAN JASA KONSULTASI ADVISORY SERVICES COMMITTEE PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Sejak dibentuk pada 2014, Komite Pengembangan Since its establishment in 2014, the Project Development
Proyek dan Advisory yang kemudian menjadi Komite and Advisory Committee—later renamed the Project
Pengembangan Proyek & Jasa Konsultasi (PPJK) Development & Advisory Services Committee (PPJK) in
pada tahun 2020 berperan sebagai pilar pendukung 2020—has played a key role as a supporting pillar for
pertumbuhan infrastruktur Perseroan melalui dukungan the Company’s infrastructure growth through strategic
non-finansial yang strategis. Komite ini memastikan non-financial support. This Committee ensures that
setiap proyek yang dibiayai Perseroan dijalankan secara each project financed by the Company is implemented
efektif, selaras dengan target, dan berkontribusi maksimal effectively, aligned with its targets, and contributes
terhadap pencapaian tujuan jangka panjang. optimally to the achievement of long-term objectives.
Piagam Komite Pengembangan Proyek Project Development & Advisory
dan Jasa Konsultasi Committee Charter
Piagam Komite PPJK diatur melalui Surat Keputusan The Project Development & Advisory Committee Charter
Direksi No. SK-011/SMI/0422 tanggal 27 April 2022, yang is stipulated in the Decree of the Board of Directors No.
memuat ketentuan mengenai: SK-011/SMI/0422 dated April 27, 2022, which regulates
the following:
1. Pembentukan Komite Pengembangan Proyek dan 1. Establishment of Project Development and Advisory
Jasa Konsultasi; Committee; 615
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05 Tata Kelola Perusahaan
Good Corporate Governance
2. Keanggotaan Komite Pengembangan Proyek dan 2. Membership of Project Development and Advisory
Jasa Konsultasi; Committee;
3. Tugas dan Kegiatan Komite Pengembangan Proyek 3. Project Development and Advisory Committee’s duties
dan Jasa Konsultasi termasuk tugas Sekretaris Komite; and activities, including the duties of Committee’s
Secretary;
4. Ketentuan Pengambilan Keputusan (Direktur yang 4. Decision-Making Provisions (the Director serving as
duduk sebagai Anggota Tetap Komite bertindak a Permanent Member of the Committee acts as the
sebagai Pejabat Berwenang Memutuskan, Kuorum, Authorized Decision-Making Officer, including quorum
Pemberian Kuasa dan pengambilan keputusan requirements, delegation of authority, and circular
secara sirkuler); dan decision-making processes); and
5. Ketentuan Kuorum Rapat dan Pengambilan Keputusan 5. Provision on meeting quorum and resolution grouped
yang dikategorikan berdasarkan divisi pengusul. by proposing divisions
Komposisi dan Profil Komite Composition and Profile of the Project
Pengembangan Proyek Development and Advisory Services
dan Jasa Konsultasi Committee
Berdasarkan Surat Keputusan Direksi No. SK-007/SMI/0422 Based on the Decree of the Board of Directors No. SK-007/
tanggal 27 April 2022, komposisi Komite Pengembangan SMI/0422 dated April 27, 2022, the composition of the
Proyek dan Jasa Konsultasi tahun 2025 ditetapkan Project Development and Advisory Services Committee
sebagai berikut: for 2025 is determined as follows:
Ketua Direktur yang Membawahi Divisi Pengusul Transaksi Pengembangan Proyek dan Jasa Konsultasi
Head Director in charge of the Project Development and Advisory Transaction Proposing Division
Kepala Divisi-divisi Pengusul, yakni:
Head of Proposing Divisions, namely:
1. Kepala Divisi Pengembangan Proyek (DPP)
Sekretaris Head of Project Development Division
Secretary 2. Kepala Divisi Jasa Konsultasi (DJK)
Head of Advisory Division
3. Kepala Divisi Pembiayaan Publik 2 (DPPU 2)
Head of Public Financing Division 2
1. Direktur Utama
President Director
2. Direktur Pembiayaan dan Investasi
Director of Financing and Investment
3. Direktur Manajemen Risiko
Director of Risk Management
4. Kepala Divisi Pengembangan Proyek (DPP)
Anggota Tetap Head of Project Development Division
Permanent Member 5. Kepala Divisi Jasa Konsultasi (DJK)
Head of Advisory Division
6. Kepala Divisi Pembiayaan Publik 2 (DPPU 2)
Head of Public Financing Division 2
7. Kepala Divisi Hukum (DH)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Head of Legal Division
8. Kepala Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Head of Environmental, Social & Technical Evaluation Division
Anggota Tidak Tetap
-
Non-Permanent Member
Informasi mengenai profil anggota Komite Information regarding the profile of members of the
Pengembangan Proyek dan Jasa Konsultasi yang Project Development and Advisory Services Committee
menjabat tahun 2025 disajikan dalam bagian Profil serving in 2025 is presented in the Profile of Executive
Pejabat Eksekutif pada Bab Tata Kelola Perusahaan Officials section in the Corporate Governance Chapter
dalam Laporan Tahunan ini. of this Annual Report.
Pelaksanaan Rapat Komite Implementation of the Project
Pengembangan Proyek Development and Advisory Services
dan Jasa Konsultasi Committee Meetings
Di tahun 2025, Komite Pengembangan Proyek dan In 2025, the Project Development and Advisory Services
Jasa Konsultasi menyelenggarakan rapat sebanyak 8 Committee held 8 (eight) meetings. Details of the
(delapan) kali. Rincian agenda pembahasan serta tingkat discussion agenda and attendance level of members
kehadiran anggota Komite Pengembangan Proyek dan of the Project Development and Advisory Services
616 Jasa Konsultasi dalam setiap rapat disajikan sebagai Committee at each meeting are presented as follows:
berikut:
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Tabel Agenda Rapat Komite Pengembangan Proyek dan Jasa Konsultasi
Table of Meeting Agenda of the Project Development and Advisory Services Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
Tindak Lanjut Penyaluran Bantuan Teknis PDF Donor kepada PT Arkora Hydro Kalimantan terkait
14 Januari 2025 Proyek PLTA Busang
1.
January 14, 2025 Follow-Up on the Disbursement of PDF Donor Technical Assistance to PT Arkora Hydro Kalimantan
related to the Busang Hydropower Plant (PLTA) Project
Permohonan Persetujuan Komite PPJK untuk Pelaksanaan Pekerjaan Jasa Konsultasi Studi
Kelayakan Finansial dan Ekonomi Transshipment Hub di Sekitar Selat Malaka PT Pelindo Terminal
16 Januari 2025 Petikemas
2.
January 16, 2025 Request for Approval from the Project Development and Advisory Services Committee for
the Implementation of Financial and Economic Feasibility Study Consulting Services for a
Transshipment Hub in the Malacca Strait Area for PT Pelindo Terminal Petikemas
Permohonan Persetujuan Komite PPJK untuk Penyampaian Usulan Nilai Opportunity Return Tahun
2025 untuk Penugasan Project Development Facility (PDF) KPBU, Fasilitas Penyiapan Proyek (FPP)
Ibu Kota Nusantara (IKN), dan Pendukung Penerapan Skema Pendanaan (PPSP) IKN
26 Februari 2025 Request for Approval from the Project Development and Advisory Services Committee for the
3.
February 26, 2025 Submission of the Proposed Opportunity Return Value for 2025 for the assignment of the Public-
Private Partnership Project Development Facility (PDF), the Project Preparation Facility (FPP) of
the Nusantara Capital City (IKN), and the Supporting Facility for the Implementation of Financing
Schemes (PPSP) of IKN
Permohonan Persetujuan Komite PPJK atas Perubahan (Update) Rencana Kegiatan
Manajemen Proyek (“RKMP”) terkait Pelaksanaan Perpanjangan Fasilitas Penyiapan Proyek dan
Pendampingan Transaksi Proyek Kerjasama Pemerintah dengan Badan Usaha (“KPBU”) Rumah
27 Februari 2025 Sakit Universitas Padjadjaran
4.
February 27, 2025 Request for Approval from the Project Development and Advisory Services Committee for
the Amendment (Update) of the Project Management Activity Plan (RKMP) related to the
implementation of the extension of the Project Preparation Facility and Transaction Advisory for
the Public-Private Partnership (PPP) Project of Padjadjaran University Hospital
Permohonan Persetujuan Penyaluran Bantuan Teknis PDF S4I-KfW kepada Pemerintah Kabupaten
Trenggalek terkait Rencana Pembangunan Fasilitas Pengolahan Sampah di Tempat Pemrosesan
17 April 2025 Akhir (“TPA”) Srabah, Kecamatan Bendungan, Kabupaten Trenggalek, Jawa Timur
5.
April 17, 2025 Request for Approval for the Disbursement of PDF S4I-KfW Technical Assistance to the
Government of Trenggalek Regency related to the Waste Processing Facility Development Plan at
the Final Disposal Site (TPA) Srabah, Bendungan Subdistrict, Trenggalek Regency, East Java
Permohonan Persetujuan Komite PPJK atas Jasa Konsultasi Kajian Rencana Pengoperasian
Terminal Peti Kemas di Terminal Kijing
10 Juni 2025
6. Request for Approval from the Project Development and Advisory Services Committee for
June 10, 2025
Consulting Services on the Study of the Operational Plan for the Container Terminal at Kijing
Terminal
Permohonan Persetujuan Komite PPJK atas Perubahan Rencana Anggaran Biaya (RAB) dan
Jangka Waktu Pelaksanaan Penugasan Fasilitas Pengembangan Proyek (“FPP”) Kerja Sama
Pemerintah dan Badan Usaha (“KPBU”) Penyediaan Infrastruktur Ibu Kota Nusantara (“IKN”) Sektor
Jalan dan MUT atas Prakarsa Badan Usaha (Unsolicited)
2 Juli 2025
7. Request for Approval from the Project Development and Advisory Services Committee for
July 2, 2025
the Amendment of the Cost Budget Plan (RAB) and the Implementation Period of the Project
Development Facility (FPP) Assignment for the Public-Private Partnership (PPP) for the Provision of
Infrastructure in the Nusantara Capital City (IKN) in the Road and MUT Sectors under the Business
Entity Initiative (Unsolicited)
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Permohonan Persetujuan Komite PPJK atas Jasa Konsultasi Regional Business Expansion Plan PT
10 September 2025 Pelindo Terminal Petikemas
8.
September 10, 2025 Request for Approval from the Project Development and Advisory Services Committee for
Consulting Services on the Regional Business Expansion Plan of PT Pelindo Terminal Petikemas
Permohonan Persetujuan Komite PPJK atas Hasil Negosiasi Pembahasan Amandemen Perjanjian
Penugasan Fasilitas Pendukung Penerapan Skema Pendanaan Ibu Kota Nusantara
19 September 2025
9. Request for Approval from the Project Development and Advisory Services Committee for the
September 19, 2025
Negotiation Results of the Discussion on the Amendment to the Assignment Agreement for the
Supporting Facility for the Implementation of the Financing Scheme for the Nusantara Capital City
Permohonan Persetujuan Penyaluran Bantuan Teknis PDF GCF-PPF kepada PT Perusahaan Listrik
3 Oktober 2025 Negara (Persero) dalam rangka Proyek Transisi Energi di Wilayah Indonesia Timur
10.
October 3, 2025 Request for Approval for the Disbursement of PDF GCF-PPF Technical Assistance to PT Perusahaan
Listrik Negara (Persero) in relation to the Energy Transition Project in Eastern Indonesia
617
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05 Tata Kelola Perusahaan
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Tabel Agenda Rapat Komite Pengembangan Proyek dan Jasa Konsultasi
Table of Meeting Agenda of the Project Development and Advisory Services Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
Permohonan Persetujuan Komite PPJK atas Persetujuan Pemutakhiran (Update) Rencana
Kegiatan Manajemen Proyek (“RKMP”) terkait Pelaksanaan Perpanjangan Fasilitas Penyiapan
Proyek dan Pendampingan Transaksi Proyek Kerjasama Pemerintah dengan Badan Usaha
(“KPBU”) Sistem Penyediaan Air Minum (“SPAM”) Regional Metropolitan Cirebon Raya (Jatigede)
14 Oktober 2025 Tahap I
11.
October 14, 2025 Request for Approval from the Project Development and Advisory Services Committee for the
Update of the Project Management Activity Plan (RKMP) related to the implementation of the
extension of the Project Preparation Facility and Transaction Advisory for the Public-Private
Partnership (PPP) Project of the Regional Drinking Water Supply System (SPAM) of the Cirebon
Raya Metropolitan Area (Jatigede) Phase I
Permohonan Persetujuan Komite PPJK atas Jasa Konsultasi Keuangan untuk Kebutuhan Pra-Studi
4 November 2025 Kelayakan Pemrakarsaan KPDBU
12.
November 4, 202 Request for Approval from the Project Development and Advisory Services Committee for
Financial Consulting Services for the Pre-Feasibility Study of PPP Project Initiation
Permohonan Persetujuan Komite PPJK atas Jasa Konsultasi Green Investment Scoping Study
for Piloting Green Special Economic Zone (Green SEZ) in Indonesia kepada Global Green Growth
5 November 2025 Institute (“GGGI”)
13.
November 5, 2025 Request for Approval from the Project Development and Advisory Services Committee for
Consulting Services on the Green Investment Scoping Study for Piloting a Green Special Economic
Zone (Green SEZ) in Indonesia to the Global Green Growth Institute (GGGI)
Tabel Kehadiran Anggota Komite Pengembangan Proyek dan Jasa Konsultasi
Table of Attendance of Members of the Project Development and Advisory Services Committee
Jabatan di Persentase
Jabatan di Komite Jumlah Kehadiran
Nama Perseroan Position in the Total Attendance
Kehadiran
Name Position in the Percentage of
Committee
Company Attendance
Anggota/Pejabat
Direktur Utama Berwenang Memutus
Reynaldi Hermansjah 8 100%
President Director Member/Authorized
Decision-Making Officer
Direktur Pembiayaan
Publik dan Ketua Komite/ Pejabat
Pengembangan Proyek Berwenang Memutus
Faaris Pranawa 8 100%
Director of Public Head/Authorized Decision-
Financing and Project Making Officer
Development
Direktur Manajemen Anggota/Pejabat
Risiko Berwenang Memutus
Pradana Murti 8 100%
Director of Risk Member/Authorized
management Decision-Making Officer
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Kadiv Evaluasi
Lingkungan Sosial dan
Teknik Anggota
Gan Gan Dirgantara 8 100%
Head of Environmental, Member
Social & Technical
Evaluation Division
Kadiv Hukum Anggota
Bibin Sibyanudin 8 100%
Head of Legal Division Member
Kadiv Pengembangan
Proyek (sampai dengan
31 Januari 2025) Anggota
Delano Dalo 1 100%
Head of Project Member
Development Division
(until January 31, 2025)
Kadiv Pengembangan
Proyek (mulai 1 Februari
2025) Anggota
Rikka Dwi Rejeki 7 100%
Head of Project Member
Development Division
(since February 1, 2025)
618
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Tugas, Tanggung Jawab dan Wewenang Duties, Responsibilities, and Authority
Komite Pengembangan Proyek dan Jasa of Project Development and Advisory
Konsultasi Services Committee
Tugas pokok Komite PPJK adalah meninjau, menelaah, The main duty of the Project Development and Advisory
mempertimbangkan dan membuat keputusan terkait Services Committee is to review, examine, consider, and
kegiatan usaha pengembangan proyek dan jasa make decisions related to project development and
konsultasi, beserta persetujuan khusus terkait usaha advisory services business activities, along with granting
tersebut. Selain itu komite juga bertugas memutuskan specific approvals related to such activities. In addition,
pengajuan secara kasus per kasus terkait usulan atau the Committee is also responsible for deciding, on a case-
proposal pengembangan proyek dan jasa konsultasi, by-case basis, submissions related to proposed project
sebagaimana diatur dalam kebijakan terkait. development and advisory services, as stipulated in the
relevant policies.
Pelaksanaan Tugas Komite Implementation of Duties of the Project
Pengembangan Proyek dan Jasa Development and Advisory Services
Konsultasi di Tahun 2025 Committee in 2025
Selama tahun 2025, Komite Pengembangan Proyek dan During 2025, the Project Development & Advisory Services
Jasa Konsultasi telah melaksanakan tugasnya antara Committee carried out its duties, among others, as follows:
lain:
1. Melakukan pembahasan dan menyetujui penyaluran 1. Conduct discussions and approve the disbursement
bantuan teknis PDF Donor; of Donor PDF technical assistance;
2. Melakukan pembahasan dan menyetujui Opportunity 2. Conduct discussions and approve the Opportunity
Return Penugasan PDF KPBU, FPP dan PPSP IKN; Return for the assignment of PPP PDF, FPP, and PPSP IKN;
3. Melakukan pembahasan dan menyetujui dokumen 3. Conduct discussions and approve the Project
rencana kegiatan manajemen proyek (RKMP) dan/ Management Activity Plan (RKMP) document and/
atau rencana anggaran biaya (RAB) pelaksanaan or the Cost Budget Plan (RAB) for the implementation
fasilitas penyiapan proyek dan pendampingan transaksi of the Project Development Facility (PDF) for PPP,
(Project Development Facility/ PDF) KPBU termasuk including any amendments to such facilities.
apabila terdapat amandemen atas fasilitas tersebut.
KOMITE PENYERTAAN MODAL EQUITY INVESTMENT COMMITTEE
Komite Penyertaan Modal dibentuk pada 2016 melalui The Equity Investment Committee was established in
Keputusan Direksi No. SK-5/SMI/0616, dengan penyesuaian 2016 through Decree of the Board of Directors No. SK-5/
terakhir melalui SK-007/SMI/0422 pada 27 April 2022, SMI/0616, with the latest amendment through Decree
sebagai bagian dari upaya strategis melindungi nilai aset No. SK-007/SMI/0422 dated April 27, 2022, as part of a
likuid dan memastikan keputusan investasi dilakukan strategic effort to safeguard the value of liquid assets and
secara tepat. Komite Penyertaan Modal memiliki tugas ensure that investment decisions are made appropriately.
untuk meninjau, menganalisis, dan mengambil keputusan The Equity Investment Committee is tasked with reviewing,
strategis terkait penyertaan maupun pelepasan modal, analyzing, and making strategic decisions related to
termasuk pendirian anak perusahaan atau perusahaan equity participation and divestment, including the
patungan. establishment of subsidiaries or joint venture companies. PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Piagam Komite Penyertaan Modal Committee Equity Investment Charter
Piagam Komite Penyertaan Modal diatur melalui Surat The Equity Investment Committee Charter is stipulated
Keputusan Direksi No. SK-002/SMI/0126 tanggal 19 Januari through the Decree of the Board of Directors No. SK-
2026, yang memuat ketentuan mengenai: 002/SMI/0126 dated January 19, 2026, which sets forth
provisions regarding:
1. Pembentukan Komite Penyertaan Modal; 1. Establishment of Equity Investment Committee;
2. Keanggotaan Komite Penyertaan Modal; 2. Membership of Equity Investment Committee;
3. Tugas dan Kegiatan Komite Penyertaan Modal; dan 3. Equity Investment Committee’s Duties and Activities;
and
4. Ketentuan Pengambilan Keputusan (Direktur yang 4. Decision-Making Provisions (the Director serving as
duduk sebagai Anggota Tetap Komite, bertindak a Permanent Member of the Committee acts as the
sebagai Pejabat Berwenang Memutuskan, Kuorum, Authorized Decision-Making Officer, including quorum
Pemberian Kuasa dan pengambilan keputusan requirements, delegation of authority, and circular
secara sirkuler). decision-making processes).
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05 Tata Kelola Perusahaan
Good Corporate Governance
Komposisi dan Profil Komite Penyertaan Composition and Profile of the Equity
Modal Investment Committee
Berdasarkan Surat Keputusan Direksi No. SK-002/SMI/0126 Based on the Decree of the Board of Directors No. SK-002/
tanggal 19 Januari 2026, komposisi Komite Penyertaan SMI/0126 dated January 19, 2026, the composition of the
Modal ditetapkan sebagai berikut: Equity Investment Committee is determined as follows:
Ketua Direktur Pembiayaan dan Investasi
Head Director of Financing & Investment
Sekretaris Kepala Divisi Penyertaan Modal
Secretary Head of Equity Investment Division
1. Direktur Utama
President Director
2. Direktur Pembiayaan & Investasi
Director of Financing & Investment
3. Direktur Operasional & Keuangan
Director of Operations & Finance
4. Direktur Manajemen Risiko
Director of Risk Management
Anggota Tetap 5. Direktur Pembiayaan Publik dan Pengembangan Proyek
Permanent Member Director of Public Financing and Project Development
6. Kepala Divisi Penyertaan Modal (DPM)
Head of Equity Investment Division
7. Kepala Divisi Hukum (DH)
Head of Legal Division
8. Kepala Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Head of Financing & Investment Evaluation Division
9. Kepala Divisi Kepatuhan (DK)
Head of Compliance Division
1. Kepala Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Head of Environmental, Social & Technical Evaluation Division
Anggota Tidak Tetap 2. Kepala Divisi Keuangan dan Hubungan Investor (DKHI)
Non-Permanent Member Head of Finance & Investor Relations Division
3. Kepala Divisi Pengelola Debitur Pembiayaan terkait Penyertaan Modal yang diusulkan
Head of Financing Debtor Management Division regarding proposed Equity Investment
Informasi mengenai profil anggota Komite Penyertaan Information regarding the profile of members of the Equity
Modal yang menjabat tahun 2025 disajikan dalam bagian Investment Committee serving in 2025 is presented in
Profil Pejabat Eksekutif pada Bab Tata Kelola Perusahaan the Profile of Executive Officials section in the Corporate
dalam Laporan Tahunan ini. Governance Chapter of this Annual Report.
Pelaksanaan Rapat Komite Penyertaan Implementation of the Equity Investment
Modal Committee Meetings
Di tahun 2025, Komite Penyertaan Modal In 2025, the Equity Investment Committee held 7 (seven)
menyelenggarakan rapat sebanyak 7 (tujuh) kali dan meetings and 12 (twelve) circular resolutions. Details of
12 (dua belas) kali persetujuan sirkuler. Rincian agenda the discussion agenda and attendance level of members
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
pembahasan serta tingkat kehadiran anggota Komite of the Equity Investment Committee at each meeting are
Penyertaan Modal dalam setiap rapat disajikan sebagai presented as follows:
berikut:
Tabel Agenda Rapat Komite Penyertaan Modal
Table of Meeting Agenda of the Equity Investment Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
PT Indonesia Infrastructure Finance (“PT IIF”)
[Confidential] Permohonan Persetujuan atas Keputusan Sirkuler Para Pemegang Saham PT
Indonesia Infrastructure Finance sebagai Pengganti dari Rapat Umum Pemegang Saham
Luar Biasa terkait pengangkatan Presiden Direktur dan Direktur Keuangan Sementara (Ref.
25 Februari 2025 (Sirkuler) No: 001/IIF/SHR-RES/II/2025)
1.
February 25, 2025 (Circular) [Confidential] Request for Approval of the Circular Resolution of the Shareholders of PT
Indonesia Infrastructure Finance in lieu of an Extraordinary General Meeting of Shareholders
regarding the appointment of the Acting President Director and Acting Director of Finance
(Ref. No: 001/IIF/SHR-RES/II/2025)
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Tabel Agenda Rapat Komite Penyertaan Modal
Table of Meeting Agenda of the Equity Investment Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
Permohonan Pemberian Persetujuan PT SMI terhadap Business Plan & Budget 2025 dan Long-
21 Maret 2025 (Sirkuler) Term Business Plan 2025-2029 PT Indonesia Infrastructure Finance
2.
March 21, 2025 (Circular) Request for Approval from PT SMI for the 2025 Business Plan & Budget and the 2025–2029
Long-Term Business Plan of PT Indonesia Infrastructure Finance
[CONFIDENTIAL] - Persetujuan atas Keputusan Edaran Para Pemegang Saham PT Indonesia
Infrastructure Finance (sebagai Pengganti Rapat Umum Pemegang Saham Luar Biasa Ref.
27 Maret 2025 (Sirkuler) No. : 002/IIF/SHR-RES/III/2025 (“CROS 002/2025”)
3.
March 27, 2025 (Circular) [CONFIDENTIAL] – Approval of the Circular Resolution of the Shareholders of PT Indonesia
Infrastructure Finance (in lieu of an Extraordinary General Meeting of Shareholders Ref. No.:
002/IIF/SHR-RES/III/2025 (“CROS 002/2025”))
Persetujuan atas Keputusan Edaran Para Pemegang Saham PT Indonesia Infrastructure
Finance (selanjutnya disebut “IIF” atau “Perseroan”) sebagai Pengganti Rapat Umum
20 Agustus 2025 (Sirkuler) Pemegang Saham Luar Biasa Ref. No.: 004/IIF/SHR-RES/VII/2025
4.
August 20, 2025 (Circular) Approval of the Circular Resolution of the Shareholders of PT Indonesia Infrastructure Finance
(hereinafter referred to as “IIF” or the “Company”) in lieu of an Extraordinary General Meeting
of Shareholders Ref. No.: 004/IIF/SHR-RES/VII/2025
Permohonan Persetujuan atas Keputusan PT Sarana Multi Infrastruktur (Persero) pada
Rencana Rapat Umum Pemegang Saham Luar Biasa PT Indonesia Infrastructure Finance
10 September 2025 (Sirkuler) pada tanggal 29 Agustus 2025
5.
September 10, 2025 (Circular) Request for Approval of the Resolution of PT Sarana Multi Infrastruktur (Persero) at the
Extraordinary General Meeting of Shareholders of PT Indonesia Infrastructure Finance on
August 29, 2025
[CONFIDENTIAL] - Persetujuan atas Keputusan Edaran Para Pemegang Saham PT Indonesia
Infrastructure Finance (sebagai Pengganti Rapat Umum Pemegang Saham Luar Biasa Ref.
29 September 2025 (Sirkuler) No. : 006/IIF/SHR-RES/IX/2025 (“CROS 006/2025”)
6.
September 29, 2025 [CONFIDENTIAL] – Approval of the Circular Resolution of the Shareholders of PT Indonesia
Infrastructure Finance (in lieu of an Extraordinary General Meeting of Shareholders Ref. No.:
006/IIF/SHR-RES/IX/2025 (“CROS 006/2025”))
PT Cinere Serpong Jaya (“PT CSJ”)
Permohonan Persetujuan: (i) Rencana Kerja Anggaran Perusahaan Tahun 2025 dan (ii)
2 Mei 2025 (Sirkuler) Kontrak Manajemen PT Cinere Serpong Jaya (“CSJ” atau “Perseroan”)
7.
May 2, 2025 (Circular) Request for Approval of: (i) the Company’s 2025 Work Plan and Budget; and (ii) the
Management Contract of PT Cinere Serpong Jaya (“CSJ” or the “Company”)
PT Cimanggis Cibitung Tollways (“PT CCT”)
1. Permohonan Persetujuan atas Rencana:
2. Pengambilalihan Pinjaman Pemegang Saham (“SHL”) dari PT Waskita Toll Road (“PT
WTR”)
3. Pelaksanaan Konversi SHL menjadi Saham
25 Februari 2025 (Fisik/Online) 4. Pelepasan Seluruh Kepemilikan Saham PT Sarana Multi Infrastruktur (Persero) (“PT SMI”)
8. February 25, 2025 pada PT Cimanggis Cibitung Tollways (“CCT”)
(In -person/Online) 1. Request for Approval of the Plan for:
2. the Acquisition of Shareholder Loan (SHL) from PT Waskita Toll Road (“PT WTR”)
3. the Conversion of SHL into Shares
4. the Divestment of All Share Ownership of PT Sarana Multi Infrastruktur (Persero) (“PT SMI”)
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
in PT Cimanggis Cibitung Tollways (“CCT”)
Permohonan Persetujuan atas Rencana Kerja Anggaran Perusahaan (“RKAP”) Tahun 2025 PT
24 April 2025 (Sirkuler) Cimanggis Cibitung Tollways (“CCT atau Perseroan”)
9.
April 24, 2025 (Circular) Request for Approval of the Company’s 2025 Work Plan and Budget (“RKAP”) of PT Cimanggis
Cibitung Tollways (“CCT” or the “Company”)
Permohonan Persetujuan atas (1) Addendum Perjanjian Pinjaman Pemegang Saham; (2)
Usulan nilai Owner Estimate untuk 55% porsi ekuitas milik SMI; dan (3) Divestasi CCT melalui
30 Juni 2025 (Fisik/Online)
Mekanisme ROFO kepada Pemegang Saham Existing
10. June 30, 2025
Request for Approval of: (1) the Addendum to the Shareholder Loan Agreement; (2) the
(In -person/Online)
Proposed Owner Estimate Value for the 55% Equity Portion Owned by SMI; and (3) the
Divestment of CCT through the ROFO Mechanism to Existing Shareholders
Permohonan Persetujuan atas Usulan Dokumen Transaksi Divestasi PT Cimanggis Cibitung
15 Juli 2025 (Fisik/Online)
Tollways (“CCT atau Perseroan”)
11. July 15, 2025
Request for Approval of the Proposed Transaction Documents for the Divestment of PT
(In -person/Online)
Cimanggis Cibitung Tollways (“CCT” or the “Company”)
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Tabel Agenda Rapat Komite Penyertaan Modal
Table of Meeting Agenda of the Equity Investment Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
Permohonan Persetujuan Usulan Pemberian Fasilitas Pinjaman Pemegang Saham kepada PT
20 Agustus 2025 (Fisik/Online)
Cibitung Cimanggis Tollways (“CCT” atau “Perseroan”)
12. August 20, 2025
Request for Approval of the Proposed Provision of a Shareholder Loan Facility to PT Cibitung
(In -person/Online)
Cimanggis Tollways (“CCT” or the “Company”)
Permohonan Persetujuan Keputusan RUPS atas Aktivitas PT Cibitung Cimanggis Tollways
(“CCT” atau “Perseroan”) terkait:
1. Penandatanganan Amandemen Perjanjian Pemegang Saham, Perolehan Fasilitas
Pinjaman Pemegang Saham/SHL, Perolehan Fasilitas Sindikasi Baru dan Pelunasan
Fasilitas Pembiayaan Eksisting dan Sebagian Kewajiban SHL Eksisting CCT; dan
2. Penjualan Saham CCT, Perubahan Pemegang Saham CCT, Pengangkatan Pengurus
Baru CCT, dan Pelepasan Rights of First Refusal (“ROFR”) sehubungan dengan transaksi
21 Agustus 2025 (Fisik/Online) divestasi saham CCT
13. August 21, 2025 Request for Approval of the GMS Resolution on the Activities of PT Cibitung Cimanggis
(In -person/Online) Tollways (“CCT” or the “Company”) related to:
1. the Signing of the Amendment to the Shareholders Agreement, the Obtaining of a
Shareholder Loan Facility (SHL), the Obtaining of a New Syndicated Facility, and the
Settlement of Existing Financing Facilities and Part of the Existing SHL Obligations of CCT;
and
2. the Sale of CCT Shares, Changes in CCT Shareholders, Appointment of New CCT
Management, and Waiver of the Right of First Refusal (“ROFR”) in connection with the CCT
Share Divestment Transaction
Permohonan persetujuan atas:
1. Perubahan Tanggal Batas Akhir dan Tanggal Penyelesaian Transaksi Divestasi PT
Cimanggis Cibitung Tollways (“CCT atau Perseroan”)
25 September 2025 (Fisik/ 2. Perubahan Ketentuan dalam Offering Letter Fasilitas Pinjaman Pemegang Saham
Online) kepada CCT
14.
September 25, 2025 Request for Approval of:
(In -person/Online) 1. the Amendment of the Long Stop Date and the Completion Date of the Divestment
Transaction of PT Cimanggis Cibitung Tollways (“CCT” or the “Company”)
2. the Amendment of the Provisions in the Offering Letter of the Shareholder Loan Facility to
CCT
Permohonan Persetujuan atas:
1. Perubahan Tanggal Batas Akhir Transaksi Divestasi PT Cimanggis Cibitung Tollways
(“CCT atau Perseroan”);
2. Side Agreement dan Escrow Agreement terkait Perubahan Tanggal Batas Akhir; dan
3. Perubahan Ketentuan dalam Offering Letter Fasilitas Pinjaman Pemegang Saham
14 November 2025 (Fisik/
kepada CCT
Online)
15. Request for Approval of:
November 14, 2025 (In
1. the Amendment of the Long Stop Date of the Divestment Transaction of PT Cimanggis
-person/Online)
Cibitung Tollways (“CCT” or the “Company”);
2. the Side Agreement and Escrow Agreement related to the Amendment of the Long Stop
Date; and
3. the Amendment of the Provisions in the Offering Letter of the Shareholder Loan Facility to
CCT
PT Trans Jabar Tol (“PT TJT”)
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Permohonan Persetujuan Rencana Kerja Anggaran Perusahaan Tahun 2025 dan Kontrak
26 Maret 2025 (Sirkuler)
Manajemen Tahun 2025 PT Trans Jabar Tol (“TJT” atau “Perseroan”)
16. March 26, 2025
Request for Approval of the Company’s 2025 Work Plan and Budget and the 2025
(Circular)
Management Contract of PT Trans Jabar Tol (“TJT” or the “Company”)
Permohonan Persetujuan atas Rapat Umum Pemegang Saham Luar Biasa (“RUPS-LB”)
Sirkuler PT Trans Jabar Tol (“TJT” atau “Perseroan”) terkait dengan Perubahan Susunan Direksi
8 April 2025 (Sirkuler) Perseroan
17.
April 8, 2025 (Circular) Request for Approval of the Circular Extraordinary General Meeting of Shareholders (“EGMS”)
of PT Trans Jabar Tol (“TJT” or the “Company”) related to the Change in the Composition of
the Company’s Board of Directors
Permohonan Persetujuan atas Usulan Posisi PT Sarana Multi Infrastruktur (Persero) (“PT SMI”)
pada Rapat Umum Pemegang Saham Tahunan (“RUPST”) PT Trans Jabar Tol ("TJT" atau
21 Mei 2025 (Sirkuler) “Perseroan”)
18.
May 21, 2025 (Circular) Request for Approval of the Proposed Position of PT Sarana Multi Infrastruktur (Persero) (“PT
SMI”) at the Annual General Meeting of Shareholders (“AGMS”) of PT Trans Jabar Tol (“TJT” or
the “Company”)
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Tabel Agenda Rapat Komite Penyertaan Modal
Table of Meeting Agenda of the Equity Investment Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
Permohonan Persetujuan atas :
1. Rapat Umum Pemegang Saham Luar Biasa (“RUPS-LB”) Sirkuler PT Trans Jabar Tol (“TJT
atau Perseroan”) terkait Perubahan Anggaran Dasar TJT; dan
7 November 2025 (Sirkuler) 2. Addendum II Perjanjian Pemegang Saham TJT
19.
November 7, 2025 (Circular) Request for Approval of:
1. the Circular Extraordinary General Meeting of Shareholders (“EGMS”) of PT Trans Jabar Tol
(“TJT” or the “Company”) related to the Amendment of TJT’s Articles of Association; and
2. Addendum II to the TJT Shareholders Agreement
Tabel Kehadiran Anggota Komite Penyertaan Modal
Table of Attendance of Members of the Equity Investment Committee
Persentase
Jabatan di Komite
Nama Jabatan di Perseroan Position in the
Jumlah Kehadiran Kehadiran
Name Position in the Company Total Attendance Percentage of
Committee
Attendance
Direktur Pembiayaan &
Investasi Ketua
Sylvi J. Gani 19 100%
Director of Financing & Head
Investment
Sekretaris Komite/
Kepala Divisi Penyertaan Modal Anggota Tetap
Isnaputra Iskandar Head of Equity Investment Secretary of the 19 100%
Division Committee/
Permanent Member
Direktur Utama
Reynaldi Hermansjah 19 100%
President Director
Direktur Operasional &
Keuangan
Aradita Priyanti 19 100%
Director of Operations &
Finance Anggota Tetap
Direktur Manajemen Risiko Permanent Member
Pradana Murti 19 100%
Director of Risk Management
Direktur Pembiayaan Publik
dan Pengembangan Proyek
Faaris Pranawa 19 100%
Director of Public Financing and
Project Development
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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05 Tata Kelola Perusahaan
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Tabel Kehadiran Anggota Komite Penyertaan Modal
Table of Attendance of Members of the Equity Investment Committee
Persentase
Jabatan di Komite
Nama Jabatan di Perseroan Position in the
Jumlah Kehadiran Kehadiran
Name Position in the Company Total Attendance Percentage of
Committee
Attendance
Kepala DH Anggota Tetap
Bibin Sibyanudin 19 100%
Head of Legal Division Permanent Member
Kepala DEPI
Anggota Tetap
Hendry Head of Financing & 19 100%
Permanent Member
Investment Evaluation Division
Kepala DELST Anggota Tidak Tetap
Gan Gan Dirgantara Head of Environmental, Social & Non-Permanent 4 100%
Technical Evaluation Division Member
Kepala DKHI Anggota Tidak Tetap
Willy Sam Head of Finance & Investor Non-Permanent 3 100%
Relations Division Member
Tugas, Tanggung Jawab dan Wewenang Duties, Responsibilities, and Authority of
Komite Penyertaan Modal the Equity Investment Committee
Dalam rangka mendukung Direksi, Komite Penyertaan In supporting the Board of Directors, the Equity Investment
Modal memiliki tugas dan tanggung jawab untuk Committee’s duties and activities include discussing,
membahas, mempertimbangkan, serta memberikan considering, and making decisions or recommendations
keputusan atau rekomendasi terkait kegiatan, antara lain: on the following activities, among others:
1. Transaksi penyertaan modal beserta pendanaan 1. Equity Investment transactions and other funding
lainnya (apabila ada). (if any).
2. Transaksi Shareholder Loan (SHL) kepada investee. 2. Shareholder Loan (SHL) transactions to investees.
3. Transaksi Penerusan Pinjaman Luar Negeri (Pinjaman 3. Foreign Loan Forwarding Transactions (Subordination
Subordinasi). Loan).
4. Pemantauan penyertaan modal beserta pendanaan 4. Equity Investment monitoring and other funding (if
lainnya (apabila ada). any).
5. Pelepasan sebagian atau seluruh penyertaan modal 5. Partial or full divestment of the Company’s Equity
Perseroan (berikut jenis transaksi/produk tertentu Investment (including Particular types of transactions/
yang berakibat Perseroan memiliki/melepaskan products that lead to the Company owning/disowning
kepemilikan saham pada investee). the share to investees).
6. Membahas dan/atau memutuskan pengajuan secara 6. Discussing and/or deciding proposals on a case-by-
kasus per kasus atas hal/transaksi sebagaimana case basis for matters/transactions regulated in the
diatur dalam Kebijakan terkait penyertaan modal. policy on Equity Investment.
Pelaksanaan Tugas Komite Penyertaan Implementation of Duties of the Equity
Modal di Tahun 2025 Investment Committee in 2025
Selama tahun 2025, Komite Penyertaan Modal telah During 2025, the Equity Investment Committee carried
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
melaksanakan tugasnya antara lain: out its duties, among others, as follows:
1. Pada tanggal 28 November 2025, telah dilakukan 1. On November 28, 2025, the divestment of 55% of PT
pelepasan 55% saham milik PT SMI di CCT. SMI’s shares in CCT was completed.
2. Pada tahun 2025, terdapat transaksi Shareholder 2. In 2025, there was a Shareholder Loan (SHL) transaction
Loan (SHL) kepada PT Trans Jabar Tol. to PT Trans Jabar Tol.
3. Pemantauan penyertaan modal berupa persetujuan 3. Monitoring of equity investments in the form of approvals
atas, termasuk namun tidak terbatas pada, Rencana for, including but not limited to, the Company’s 2025
Kerja Anggaran Perusahaan Tahun 2025 Investee, Work Plan and Budget of the Investee, the 2025
Kontrak Manajemen Tahun 2025 Investee, Perubahan Management Contract of the Investee, changes in the
Direksi dan Dewan Komisaris Investee, Perubahan Board of Directors and Board of Commissioners of the
Perwakilan Perseroan pada Investee, Perubahan Investee, changes in the Company’s representatives in
Anggaran Dasar dan hal lainnya. the Investee, amendments to the Articles of Association,
and other related matters.
4. Rencana pelepasan kepemilikan saham Perseroan 4. The plan to divest the Company’s share ownership in
pada salah satu investee PT SMI. one of PT SMI’s investee companies.
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KOMITE TARGET TARGET COMMITTEE
PT SMI membentuk Komite Target pertama kali pada tahun PT SMI first established the Target Committee in 2014
2014 sebagai sub-komite di bawah Komite Risiko & Kapital, as a sub-committee under the Risk and Capital
berdasarkan Surat Keputusan Direksi No. SK-3/SMI/0214 Committee, based on Decree of the Board of Directors
tanggal 17 Februari 2014. Seiring perkembangan kegiatan No. SK-3/SMI/0214 dated February 17, 2014. In line with
dan peranannya, Komite Target kemudian ditetapkan the development of its activities and role, the Target
sebagai komite tersendiri melalui Surat Keputusan Committee was subsequently established as a
Direksi No. SK009/SMI/0422 tanggal 27 April 2022, dengan standalone committee through Decree of the Board of
tugas utama merumuskan target dan strategi usaha Directors No. SK009/SMI/0422 dated April 27, 2022, with the
Perseroan. Selanjutnya, untuk meningkatkan efektivitas main duty of formulating the Company’s business targets
serta mengoptimalkan penyelenggaraan Komite Target, and strategies. Furthermore, to enhance effectiveness and
dilakukan amandemen pada Surat Keputusan Direksi optimize the implementation of the Target Committee,
tersebut melalui SK No. SK-023/SMI/1124 tanggal 15 an amendment to the Decree of the Board of Directors
November 2024, tetap berlandaskan prinsip GCG dan was made through Decree No. SK-023/SMI/1124 dated
menyesuaikan dengan dinamika Perseroan. November 15, 2024, while continuing to uphold the
principles of Good Corporate Governance (GCG) and
aligning with the Company’s evolving dynamics.
Piagam Komite Target Target Committee Charter
Piagam Komite Target diatur melalui Surat Keputusan The Target Committee Charter is stipulated through
Direksi No. SK-009/SMI/0422 tanggal 27 April 2022 yang Decree of the Board of Directors No. SK-009/SMI/0422
selanjutnya diamandemen melalui Surat Keputusan dated April 27, 2022, which was subsequently amended
Direksi No. SK-023/SMI/1124 tanggal 15 November 2024, through Decree of the Board of Directors No. SK-023/
dan memuat ketentuan mengenai: SMI/1124 dated November 15, 2024, and sets forth
provisions regarding:
1. Pembentukan Komite Target; 1. Establishment of the Target Committee;
2. Keanggotaan Komite Target; 2. Membership of the Target Committee;
3. Tugas dan Kegiatan Komite Target termasuk tugas 3. Target Committee’s duties and activities, including
Sekretaris Komite; the duties of the Committee’s Secretary;
4. Ketentuan Pengambilan Keputusan (Direktur yang 4. Decision-Making Provisions (the Director serving as
duduk sebagai Anggota Tetap Komite bertindak a Permanent Member of the Committee acts as the
sebagai Pejabat Berwenang Memutus, Kuorum, Authorized Decision-Making Officer, including quorum
Pemberian Kuasa dan pengambilan keputusan requirements, delegation of authority, and circular
secara sirkuler); dan decision-making processes); and
5. Ketentuan Kuorum Rapat dan Pengambilan Keputusan 5. Provision of meeting quorum and resolution grouped
yang dikategorikan berdasarkan divisi pengusul. by proposing divisions.
Komposisi dan Profil Komite Target Composition and Profile of the Target
Committee
Berdasarkan Surat Keputusan Direksi No. SK-009/ Based on Decree of the Board of Directors No. SK-009/
SMI/0422 tanggal 27 April 2022, dan amandemennya, SMI/0422 dated April 27, 2022, and its amendment, PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Surat Keputusan Direksi No. SK023/SMI/1124 tanggal 15 Decree of the Board of Directors No. SK-023/SMI/1124
November 2024, komposisi Komite Target tahun 2025 dated November 15, 2024, the composition of the Target
ditetapkan sebagai berikut: Committee for 2025 is determined as follows:
Ketua Direktur Utama
Head President Director
Sekretaris Kepala Divisi Pengembangan Korporasi dan Manajemen Inisiatif (DPKMI)
Secretary Head of Corporate Development & Initiative Management Division
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05 Tata Kelola Perusahaan
Good Corporate Governance
1. Direksi
Board of Directors
2. Kepala Divisi Pembiayaan I
Head of Financing Division I
3. Kepala Divisi Pembiayaan II
Head of Financing Division II
4. Kepala Divisi Pembiayaan Berkelanjutan
Head of Sustainable Financing Division
5. Kepala Divisi Usaha Syariah
Head of Sharia Business Division
6. Kepala Divisi Jasa Konsultasi
Head of Advisory Services Division
7. Kepala Divisi Pengelolaan Penyertaan Modal
Head of Equity Investment Management Division
Anggota Tetap 8. Kepala Divisi Pembiayaan Publik I
Permanent Member Head of Public Financing Division I
9. Kepala Divisi Pembiayaan Publik II
Head of Public Financing Division II
10. Kepala Divisi Pembiayaan Publik III
Head of Public Financing Division III
11. Kepala Divisi Pengembangan Proyek
Head of Project Development Division
12. Kepala Divisi Pengelolaan Operasional Pembiayaan
Head of Financing Operations Management Division
13. Kepala Divisi Keuangan & Hubungan Investor
Head of Finance & Investor Relations Division
14. Kepala Divisi Akuntansi & Administrasi Aset
Head of Accounting & Asset Administration Division
15. Kepala Divisi Pengelolaan Pembiayaan & Investasi Khusus
Head of Special Financing & Investment Management Division
1. Kepala Divisi Manajemen Risiko Terintegrasi (DMRT)
Head of Integrated Risk Management Division
2. Kepala Divisi Hukum (DH)
Head of Legal Division
Anggota Tidak Tetap 3. Kepala Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Non-Permanent Member Head of Financing & Investment Evaluation Division
4. Kepala Divisi Evaluasi Lingkungan Sosial Teknik (DELST)
Head of Environmental, Social & Technical Evaluation Division
5. Kepala Divisi Riset Ekonomi (DRE)
Head of Economy Research Division
Informasi mengenai profil anggota Komite Target yang Information regarding the profile of members of the
menjabat tahun 2025 disajikan dalam bagian Profil Target Committee serving in 2025 is presented in the
Pejabat Eksekutif pada Bab Tata Kelola Perusahaan Profile of Executive Officials section in the Corporate
dalam Laporan Tahunan ini. Governance Chapter of this Annual Report.
Pelaksanaan Rapat Komite Target Implementation of the Target Committee
Meetings
Di tahun 2025, Komite Target menyelenggarakan rapat In 2025, the Target Committee held 11 (eleven) meetings.
sebanyak 11 (sebelas) kali. Rincian agenda pembahasan Details of the discussion agenda and attendance level
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
serta tingkat kehadiran anggota Komite Target dalam of members of the Target Committee at each meeting
setiap rapat disajikan sebagai berikut: are presented as follows:
Tabel Agenda Rapat Komite Target
Table of Meeting Agenda of the Target Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
24 Januari 2025 Update Kinerja Perseroan sampai dengan Desember 2024
1.
January 24, 2025 Update on the Company’s Performance as of December 2024
28 Februari 2025 Update Kinerja Perseroan sampai dengan Januari 2025
2.
February 28, 2025 Update on the Company’s Performance as of January 2025
25 Maret 2025 Update Kinerja Perseroan sampai dengan Februari 2025
3.
March 25, 2025 Update on the Company’s Performance as of February 2025
29 April 2025 Update Kinerja Perseroan sampai dengan Maret 2025
4.
April 29, 2025 Update on the Company’s Performance as of March 2025
02 Juni 2025 Update Kinerja Perseroan sampai dengan April 2025
5.
June 2, 2025 Update on the Company’s Performance as of April 2025
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Tabel Agenda Rapat Komite Target
Table of Meeting Agenda of the Target Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
04 Juli 2025 Update Kinerja Perseroan sampai dengan Mei 2025
6.
July 4, 2025 Update on the Company’s Performance as of May 2025
31 Juli 2025 Update Kinerja Perseroan sampai dengan Juni 2025
7.
July 31, 2025 Update on the Company’s Performance as of June 2025
29 Agustus 2025 Update Kinerja Perseroan sampai dengan Juli 2025
8.
August 29, 2025 Update on the Company’s Performance as of July 2025
30 September 2025 Update Kinerja Perseroan sampai dengan Agustus 2025
9.
September 30, 2025 Update on the Company’s Performance as of August 2025
3 November 2025 Update Kinerja Perseroan sampai dengan September 2025
10.
November 3, 2025 Update on the Company’s Performance as of September 2025
25 November 2025 Update Kinerja Perseroan sampai dengan Oktober 2025
11.
November 25, 2025 Update on the Company’s Performance as of October 2025
Tabel Kehadiran Anggota Komite Target
Table of Attendance of Members of the Target Committee
Persentase
Jabatan di Komite Jumlah Kehadiran
Nama Jabatan di Perseroan Position in the Total Attendance
Kehadiran
Name Position in the Company Percentage of
Committee
Attendance
Direktur Utama Ketua
Reynaldi Hermansjah 11 100%
President Director Head
Kepala Divisi Pengembangan Sekretaris Komite/
Agus Iman Solihin Korporasi dan Manajemen Inisiatif Anggota Tetap
(s.d. Juni 2025) (DPKMI)** Secretary of the 5 100%
Until June 2025 Head of the Corporate Development Committee/
and Initiative Management Division** Permanent Member
Kepala Divisi Pengembangan Sekretaris Komite/
Yuni Iswardi Korporasi dan Manajemen Inisiatif Anggota Tetap
(efektif Juli 2025) (DPKMI)** Secretary of the 6 100%
Since July 2025 Head of the Corporate Development Committee/
and Initiative Management Division** Permanent Member
Direktur Operasional dan Keuangan Anggota Tetap
Aradita Priyanti 11 100%
Director of Operations and Finance Permanent Member
Direktur Pembiayaan dan Investasi Anggota Tetap
Sylvi J. Gani 11 100%
Director of Financing and Investment Permanent Member
Direktur Pembiayaan Publik dan
Pengembangan Proyek Anggota Tetap
Faaris Pranawa 11 100%
Director of Public Financing and Permanent Member
Project Development
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Direktur Manajemen Risiko Anggota Tetap
Pradana Murti 11 100%
Director of Risk Management Permanent Member
Isnaputra Iskandar
Plt. Kepala Divisi Pembiayaan I** Anggota Tetap
(s.d. Juni 2025) 5 100%
Acting Head of Financing Division I** Permanent Member
Until June 2025
Richard Mangapul
Leopard Silaen Kepala Divisi Pembiayaan I** Anggota Tetap
6 100%
(efektif Juni 2025) Head of Financing Division I** Permanent Member
Since June 2025
Kepala Divisi Pembiayaan II Anggota Tetap
Ekha Yudha Pratama 11 100%
Head of Financing Division II Permanent Member
Kepala Divisi Pembiayaan
Benedictus Pudji Berkelanjutan Anggota Tetap
11 100%
Hartono Head of the Sustainable Financing Permanent Member
Division
Kepala Divisi Usaha Syariah Head of Anggota Tetap
Arief Subekti 11 100%
Sharia Business Division Permanent Member
Kepala Divisi Jasa Konsultasi Anggota Tetap
Adi Pranasatrya 11 100%
Head of Advisory Services Division Permanent Member
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tabel Kehadiran Anggota Komite Target
Table of Attendance of Members of the Target Committee
Persentase
Jabatan di Komite Jumlah Kehadiran
Nama Jabatan di Perseroan Position in the Total Attendance
Kehadiran
Name Position in the Company Percentage of
Committee
Attendance
Kepala Divisi Penyertaan Modal Anggota Tetap
Isnaputra Iskandar 11 100%
Head of Equity Investment Division Permanent Member
Kepala Divisi Pembiayaan Publik I Anggota Tetap
Erdian Dharmaputra 11 100%
Head of the Public Financing Division I Permanent Member
Adri Asmoro Laksono
Plt. Kepala Divisi Pembiayaan Publik II
Poesoro Anggota Tetap
Acting Head of the Public Financing 1 100%
(s.d. Januari 2025) Permanent Member
Division II**
Until January 2025
Delano Dalo Kepala Divisi Pembiayaan Publik II**
Anggota Tetap
(efektif Februari 2025) Head of the Public Financing Division 10 100%
Permanent Member
Since February 2025 II**
Kepala Divisi Pembiayaan Publik III
Adri Asmoro Laksono Anggota Tetap
Head of the Public Financing Division 11 100%
Poesoro Permanent Member
IIII
Kepala Divisi Pengembangan
Delano Dalo
Proyek** Anggota Tetap
(s.d. Februari 2025) 2 100%
Head of the Project Development Permanent Member
Until February 2025
Division**
Kepala Divisi Pengembangan
Rikka Dwi Rejeki
Proyek** Anggota Tetap
(efektif 1 Februari 2025) 9 100%
Head of the Project Development Permanent Member
Since February 1, 2025
Division**
Kepala Divisi Pengelolaan
Operasional Pembiayaan Anggota Tetap
Rintis Sitaresmi 11 100%
Head of the Financing Operations Permanent Member
Management Division
Kepala Divisi Keuangan & Hubungan
Investor Anggota Tetap
Willy Sam 11 100%
Head of the Finance and Investor Permanent Member
Relations Division
Divisi Akuntansi & Administrasi Aset
Anggota Tetap
Syahrial Noviananta Accounting and Asset Administration 11 100%
Permanent Member
Division
Kepala Divisi Pengelolaan
Pembiayaan & Investasi Khusus Anggota Tetap
Hatta Muttaqin 11 100%
Head of the Special Financing and Permanent Member
Investment Management Division
Kepala Divisi Manajemen Risiko
Anggota Tidak Tetap
Terintegrasi
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Peggy Fathiya Non-Permanent 6 100%
Head of the Integrated Risk
Member
Management Division
Anggota Tidak Tetap
Kepala Divisi Hukum
Bibin Sibyanudin Non-Permanent 9 100%
Head of the Legal Division
Member
Kepala Divisi Evaluasi Pembiayaan &
Anggota Tidak Tetap
Investasi
Hendry Non-Permanent 8 100%
Head of the Financing and
Member
Investment Evaluation Division
Kepala Divisi Evaluasi Lingkungan
Anggota Tidak Tetap
Sosial & Teknik
Gan Gan Dirgantara Non-Permanent 8 100%
Head of the Environmental, Social and
Member
Technical Evaluation Division
Kepala Divisi Riset Ekonomi Anggota Tidak Tetap
I Kadek Dian Sutrisna Head of the Economic Research Non-Permanent 7 100%
Division Member
*Dihadiri langsung maupun dihadiri oleh perwakilan
**Terdapat perubahan/mutasi Kepala Divisi
*Attended in person or represented by a proxy
**There was a change/rotation of the Head of Division
628
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Tugas, Tanggung Jawab dan Wewenang Duties, Responsibilities, and Authority of
Komite Target the Target Committee
Tugas utama Komite Target adalah merumuskan Target Committee is mainly responsible for formulating
strategi tahunan Perseroan termasuk alokasi sumber the Company’s annual strategy, including allocating the
daya perusahaan, mengevaluasi strategi, kinerja, Company’s resources, evaluating strategy, performance,
dan kesesuaian produk terhadap kondisi pasar, serta and product compatibility to the market, as well as
melakukan pemantauan secara berkala terhadap kinerja periodically monitoring the Company’s performance
Perseroan sesuai target Perseroan yang telah ditetapkan. according to its established target.
Pelaksanaan Tugas Komite Target di Implementation of Duties of the Target
Tahun 2025 Committee Duties in 2025
Sepanjang tahun 2025, Komite Target telah melaksanakan Throughout 2025, the Target Committee carried out its
tugas dan tanggung jawabnya melalui pelaksanaan 11 duties and responsibilities through the implementation
(sebelas) kali Komite Target, dengan tugas meliputi: of 11 (eleven) Target Committee duties, including:
1. Melakukan pemantauan secara berkala terhadap 1. Conduct periodic monitoring of the Company’s
kinerja keuangan dan Key Performance Indicator financial performance and Key Performance
(KPI) Perseroan sesuai dengan target Perseroan yang Indicators (KPI) in accordance with the targets set in
telah ditetapkan dalam Rencana Kerja dan Anggaran the Company’s Work Plan and Budget (RKAP);
Perusahaan (RKAP);
2. Melakukan pemantauan atas perkembangan kinerja 2. Monitor the development of the Company’s business
bisnis Perseroan serta pipeline usaha dalam rangka performance as well as the business pipeline to
pencapaian target Perseroan; dan achieve the Company’s targets; and
3. Melakukan pemantauan terhadap risiko serta kualitas 3. Monitor risks as well as the quality of the Company’s
aset pembiayaan Perseroan. financing assets.
KOMITE MONITORING MONITORING COMMITTEE
Perseroan membentuk Komite Monitoring pertama kali The Company first established the Monitoring Committee
sebagai sub komite di bawah Komite Risiko & Kapital as a sub-committee under the Risk and Capital Committee
pada tahun 2014 berdasarkan Surat Keputusan Direksi in 2014 based on Decree of the Board of Directors No.
No. SK-3/SMI/0214 tanggal 17 Februari 2014. Kemudian, SK-3/SMI/0214 dated February 17, 2014. Subsequently,
Perseroan menjadikan Komite Monitoring sebagai komite the Company designated the Monitoring Committee as
tersendiri di bawah Direksi pada tahun 2020 berdasarkan a standalone committee under the Board of Directors
Surat Keputusan Direksi No. SK-003/SMI/0126 tanggal 19 in 2020 based on Decree of the Board of Directors No.
Januari 2026 yang diperbaharui melalui Surat Keputusan SK-008/SMI/0620 dated June 22, 2020, which was later
Direksi No. SK-005/SMI/0422 tanggal 27 April 2022 dengan updated through Decree of the Board of Directors No. SK-
tugas utama yaitu melakukan pembahasan dan 005/SMI/0422 dated April 27, 2022, with the main duty of
memberikan keputusan terkait transaksi dan/atau action conducting discussions and making decisions related to
plan monitoring pembiayaan, usulan penyelamatan financing monitoring transactions and/or action plans,
pembiayaan dan/atau penyelesaian pembiayaan serta proposals for financing restructuring and/or settlement,
memberikan rekomendasi atas usulan hapus buku, write as well as providing recommendations on proposals for
back dan hapus tagih. write-off, write-back, and debt forgiveness. PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Piagam Komite Monitoring Monitoring Committee Charter
Piagam Komite Monitoring diatur melalui Surat Keputusan The Monitoring Committee Charter is stipulated through
Direksi No. SK-003/SMI/0126 tanggal 19 Januari 2026, yang Decree of the Board of Directors No. SK-003/SMI/0126
memuat ketentuan mengenai: dated January 19, 2026, which sets forth provisions
regarding:
1. Pembentukan Komite Monitoring; 1. Establishment of the Monitoring Committee;
2. Keanggotaan Komite Monitoring; 2. Membership of the Monitoring Committee;
3. Tugas dan Kegiatan Komite Monitoring termasuk 3. Monitoring Committee’s Duties and Activities, including
tugas Sekretaris Komite; dan the duties of the Committee’s Secretary; and
4. Ketentuan Pengambilan Keputusan (Direktur yang 4. Decision-Making Provisions (the Director serving as
duduk sebagai Anggota Tetap Komite bertindak a Permanent Member of the Committee acts as the
sebagai Pejabat Berwenang Memutus, Kuorum, Authorized Decision-Making Officer, including quorum
Pemberian Kuasa dan pengambilan keputusan requirements, delegation of authority, and circular
secara sirkuler). decision-making processes).
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05 Tata Kelola Perusahaan
Good Corporate Governance
Komposisi dan Profil Monitoring Komite Composition and Profile of the Monitoring
Committee
Berdasarkan Surat Keputusan Direksi No. SK-003/SMI/0126 Based on Board of Directors Decree No. SK-003/SMI/0126
tanggal 19 Januari 2026, komposisi Komite Monitoring dated January 19, 2026, the composition of the Monitoring
ditetapkan sebagai berikut: Committee is determined as follows:
Ketua Direktur Utama
Head President Director
Sekretaris Kepala Divisi Pengelolaan Pembiayaan dan Investasi Khusus (DPPIK)
Secretary Head of Special Financing and Investment Management Division
1. Direksi
Board of Directors
2. Kepala Divisi Pengelolaan Pembiayaan dan Investasi Khusus (DPPIK)
Head of Special Financing and Investment Management Division
3. Kepala Divisi Pembiayaan I (DP I)
Head of Financing Division I
4. Kepala Divisi Pembiayaan II (DP II)
Head of Financing Division II
5. Kepala Divisi Pembiayaan Berkelanjutan (DPB)
Head of the Sustainable Financing Division
6. Kepala Divisi Usaha Syariah (DUS)
Head of Sharia Business Division
7. Kepala Divisi Jasa Konsultasi (DKJ)
Head of Advisory Division
8. Kepala Divisi Pengelolaan Penyertaan Modal (DPM)
Head of Equity Investment Management Division
9. Kepala Divisi Pembiayaan Publik I (DPPU I)
Anggota Tetap Head of Public Financing Division I
Permanent Member 10. Kepala Divisi Pembiayaan Publik II (DPPU II)
Head of Public Financing Division II
11. Kepala Divisi Pembiayaan Publik III (DPPU III)
Head of Public Financing Division III
12. Kepala Divisi Pengembangan Proyek (DPP)
Head of Project Development Division
13. Kepala Divisi Pengelolaan Operasional Pembiayaan (DPOP)
Head of Financing Operational Management Division
14. Kepala Divisi Akuntansi & Administrasi Aset (DAA)
Head of Accounting & Asset Administration Division
15. Kepala Divisi Keuangan & Hubungan Investor (DKHI)
Head of Finance & Investor Relations Division
16. Kepala Divisi Hukum (DH)
Head of Legal Division
17. Kepala Divisi Evaluasi Pembiayaan & Investasi (DEPI)
Head of Financing & Investment Evaluation Division
18. Kepala Divisi Kepatuhan (DK)
Head of Compliance Division
1. Kepala Divisi Evaluasi Lingkungan Sosial & Teknik (DELST)
Anggota Tidak Tetap Head of Environmental, Social & Technical Evaluation Division
Non-Permanent Member 2. Kepala Divisi Manajemen Risiko Terintegrasi (DMRT)
Head of Integrated Risk Management Division
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Profil masing-masing anggota Komite Monitoring yang Information regarding the profile of members of the
menjabat pada tahun 2025 dapat dilihat di bagian Profil Monitoring Committee serving in 2025 is presented in
Anggota Komite-Komite di bawah Direksi pada Bab Tata the Profile of Executive Officials section in the Corporate
Kelola Perusahaan yang Baik dalam Laporan Tahunan ini. Governance Chapter of this Annual Report.
Pelaksanaan Rapat Komite Monitoring Implementation of the Monitoring
Committee Meetings
Di tahun 2025, Komite Monitoring menyelenggarakan In 2025, the Target Committee held 15 (fifteen) meetings.
rapat sebanyak 15 (lima belas) kali. Rincian agenda Details of the discussion agenda and attendance level of
pembahasan serta tingkat kehadiran anggota Komite members of the Monitoring Committee at each meeting
Monitoring dalam setiap rapat disajikan sebagai berikut: are presented as follows:
630
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Tabel Agenda Rapat Komite Monitoring
Table of Meeting Agenda of the Monitoring Committee
Tanggal Kegiatan Agenda Kegiatan
No. Activity Agenda
Date of Activity
9 Januari 2025 Penyesuaian Kolektibilitas Pembiayaan atas nama PT Cipta Daya Nusantara
1.
January 9, 2025 Adjustment of the Financing Collectibility of PT Cipta Daya Nusantara
Waiver berupa Penangguhan Kewajiban (Standstill) Fasilitas Pembiayaan Tranche 1C dan 1D
22 Mei 2025 an. PT Waskita Bumi Wira
2.
May 22, 2025 Waiver in the form of Standstill of Obligations for Tranche 1C and 1D Financing Facilities of PT
Waskita Bumi Wira
27 Mei 2025 Penyesuaian Kolektibilitas Pembiayaan PT Cipta Daya Nusantara
3.
May 27, 2025 Adjustment of the Financing Collectibility of PT Cipta Daya Nusantara
23 Juni 2025 Penebusan Agunan an. PT Bosowa Bandar Indonesia
4.
June 23, 2025 Redemption of Collateral of PT Bosowa Bandar Indonesia
Perubahan Jadwal Pembayaran Pinjaman PEN daerah Pemkab Tapanuli Utara
25 Juni 2025
5. Amendment to the Loan Repayment Schedule of the Regional PEN Loan of the Government of
June 25, 2025
North Tapanuli Regency
Proposal Perdamaian yang diajukan oleh PT Widodo Makmur Perkasa, Tbk. dalam Rangka
21 Agustus 2025 Penyelesaian Pembiayaan Melalui PKPU
6.
August 21, 2025 Settlement Proposal submitted by PT Widodo Makmur Perkasa Tbk. in relation to the
Settlement of Financing through PKPU
9 September 2025 Restrukturisasi Fasilitas Pembiayaan a.n. PT PP Semarang Demak
7.
September 9, 2025 Restructuring of the Financing Facility of PT PP Semarang Demak
Perpanjangan Penangguhan Kewajiban (Standstill) Fasilitas Pembiayaan Tranche 1C dan 1D
30 September 2025 an. PT Waskita Bumi Wira (“WBW”)
8.
September 30, 2025 Extension of the Standstill of Obligations for Tranche 1C and 1D Financing Facilities of PT Waskita
Bumi Wira (“WBW”)
30 September 2025 Restrukturisasi Pemerintah Kabupaten Mamasa
9.
September 30, 2025 Restructuring of the Government of Mamasa Regency
2 Oktober 2025 Restrukturisasi Pemerintah Kabupaten Poso
10.
October 2, 2025 Restructuring of the Government of Poso Regency
Pengesampingan Syarat dan Ketentuan Perjanjian Restrukturisasi berupa Penangguhan
7 Oktober 2025 Kewajiban (Standstill) Fasilitas Pembiayaan PT Kartanegara Energi Perkasa
11.
October 7, 2025 Waiver of the Terms and Conditions of the Restructuring Agreement in the form of a Standstill
of Obligations for the Financing Facility of PT Kartanegara Energi Perkasa
Perubahan dan/atau Pengesampingan Syarat dan Ketentuan lainnya atas Perjanjian
7 Oktober 2025 Restrukturisasi an. PT Wijaya Karya (Persero) Tbk
12.
October 7, 2025 Amendment and/or Waiver of other Terms and Conditions of the Restructuring Agreement of
PT Wijaya Karya (Persero) Tbk
20 Oktober 2025 Lelang Eksekusi Tanpa Fiat Pengadilan atas Agunan Tanah PT Bosowa Bandar Indonesia
13.
October 20, 2025 Execution Auction without Court Fiat of Land Collateral of PT Bosowa Bandar Indonesia
8 Desember 2025 Restrukturisasi Fasilitas Pembiayaan a.n. PT Waskita Bumi Wira
14.
December 8, 2025 Restructuring of the Financing Facility of PT Waskita Bumi Wira
Pengesampingan Syarat dan Ketentuan Perjanjian Restrukturisasi berupa Penangguhan
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
18 Desember 2025 Kewajiban (Standstill) Fasilitas Pembiayaan PT Pembangunan Perumahan Krakatau Tirta
15.
December 18, 2025 Waiver of the Terms and Conditions of the Restructuring Agreement in the form of a Standstill
of Obligations for the Financing Facility of PT Pembangunan Perumahan Krakatau Tirta
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tabel Kehadiran Anggota Komite Monitoring
Table of Attendance of Members of the Monitoring Committee
Persentase
Jabatan di Jumlah Persetujuan
Jabatan di Komite Persetujuan yang
Nama Perseroan Position in the
yang Diberikan
Diberikan
Name Position in the Number of Approvals
Committee Percentage of
Company Granted
Approvals Granted
Ketua/Anggota Tetap
Direktur Utama
Reynaldi Hermansjah Head/Permanent 15 100%
President Director
Member
Kepala Divisi
Pengelolaan
Pembiayaan dan Sekretaris Komite/
Investasi Khusus Anggota Tetap
Hatta Muttaqin 15 100%
Head of Special Secretary/ Permanent
Financing and Member
Investment
Management Division
Direktur Pembiayaan
dan Investasi Anggota Tetap
Sylvi Juniarty Gani 15 100%
Director of Financing and Permanent Member
Investment
Direktur Operasional dan
Keuangan Anggota Tetap
Aradita Priyanti 15 100%
Director of Operations Permanent Member
and Finance
Direktur Manajemen
Risiko Anggota Tetap
Pradana Murti 15 100%
Director of Risk Permanent Member
Management
Direktur Pembiayaan
Publik dan
Pengembangan Proyek Anggota Tetap
Faaris Pranawa 15 100%
Director of Public Permanent Member
Financing and Project
Development
Kepala Divisi
Richard Mangapul Pembiayaan 1 Anggota Tetap
1 100%
Leonard Silaen Head of Financing Permanent Member
Division I
Kepala Divisi
Pembiayaan 2 Anggota Tetap
Ekha Yudha Pratama 3 100%
Head of Financing Permanent Member
Division II
Kepala Divisi
Pembiayaan
Anggota Tetap
Benedictus Pudji Hartono Berkelanjutan 2 100%
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Permanent Member
Head of Sustainable
Financing Division
Kepala Divisi Usaha
Anggota Tetap
Arief Subekti Syariah Head of Sharia 1 100%
Permanent Member
Business Division
Kepala Divisi
Pembiayaan Publik 1 Anggota Tetap
Erdian Dharmaputra 3 100%
Head of Public Financing Permanent Member
Division I
Kepala Divisi Hukum Anggota Tetap
Bibin Sibyanudin 5 100%
Head of Legal Division Permanent Member
Kepala Divisi Evaluasi
Pembiayaan dan
Investasi Anggota Tetap
Hendry 5 100%
Head of Financing and Permanent Member
Investment Evaluation
Division
Kepala Divisi Evaluasi
Lingkungan Sosial dan
Teknik Anggota Tidak Tetap
Gan Gan Dirgantara 5 100%
Head of Environmental, Non-Permanent Member
632
Social, and Technical
Evaluation Division
Page 363
Tugas, Tanggung Jawab dan Wewenang Duties, Responsibilities, and Authority of
Komite Monitoring the Monitoring Committee
Komite Monitoring memiliki tugas dan tanggung jawab In supporting the Board of Directors’ duties, the Monitoring
sebagai berikut: Committee’s duties and responsibilities include:
1. Melakukan pembahasan dan memberikan 1. Discuss and make decisions on transactions and/or
keputusan terkait transaksi dan/atau action plan financing monitoring action plan, such as: changes
monitoring pembiayaan, antara lain seperti: on financing quality (collectability), BMPP monitoring,
perubahan kualitas pembiayaan (kolektibilitas), negative pledge and/or clean basis monitoring,
monitoring BMPP, monitoring negative pledge dan/ changes in watchlist financing status, watchlist
atau clean basis, perubahan status pembiayaan debtor’s treatment, handover agreement on special
watchlist, penanganan debitur watchlist, persetujuan financing treatment, formulation/formation and
serah terima pengelolaan pembiayaan khusus, other decisions related to Impairment Loss Allowance
perhitungan/pembentukan dan keputusan lainnya (CKPN) as well as other matters stipulated in relevant
terkait Cadangan Kerugian Penurunan Nilai (CKPN) policies.
serta hal lain-lain sebagaimana diatur pada kebijakan
terkait.
2. Melakukan pembahasan dan memberikan keputusan 2. Discuss and make decisions on financing recovery
atas usulan penyelamatan pembiayaan dan/atau proposals and/or financing resolutions.
penyelesaian pembiayaan.
3. Melakukan pembahasan dan memberikan 3. Discuss and provide recommendations related to
rekomendasi terkait usulan hapus buku, write-back proposal for write-off, write-back and haircut.
dan hapus tagih.
Pelaksanaan Tugas Komite Monitoring di Implementation of Duties of the Monitoring
Tahun 2025 Committee in 2025
During 2025, the Monitoring Committee carried out its
Selama tahun 2025, Komite Monitoring telah duties, among others, as follows:
melaksanakan tugasnya antara lain: 1. Discuss and make decisions regarding financing
1. Melakukan pembahasan dan memberikan keputusan transactions and/or financing monitoring action plans,
terkait transaksi dan/atau action plan monitoring including but not limited to: changes in financing
pembiayaan, antara lain seperti: perubahan kualitas quality (collectibility), changes in watchlist financing
pembiayaan (kolektibilitas), perubahan status status, handling of watchlist debtors, approval
pembiayaan watchlist, penanganan debitur watchlist, of the transfer of special financing management,
persetujuan serah terima pengelolaan pembiayaan calculation/formation of Allowance for Impairment
khusus dan perhitungan/pembentukan dan keputusan Losses (CKPN), and other related matters as stipulated
lainnya terkait Cadangan Kerugian Penurunan Nilai in the relevant policies.
(CKPN) serta hal lain-lain sebagaimana diatur pada
kebijakan terkait. 2. Discuss and make decisions on proposed financing
2. Melakukan pembahasan dan memberikan keputusan recovery measures and/or financing resolution
atas usulan penyelamatan pembiayaan dan/atau strategies.
penyelesaian pembiayaan.
GENERAL POLICY AND
KOMITE KEBIJAKAN UMUM PROCEDURE COMMITTEE
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
DAN PROSEDUR
Komite Kebijakan Umum dan Prosedur PT SMI pertama PT SMI established the General Policy and Procedure
kali dibentuk pada tahun 2020 sebagai sub-komite di Committee for the first time in 2020 as a subcommittee
bawah Komite Manajemen Risiko. Komite ini kemudian under the Risk Management Committee. Subsequently,
ditetapkan sebagai komite independen di bawah Direksi the General Policy and Procedure Committee was
melalui Surat Keputusan Direksi No. SK-007/SMI/0620 designated as an independent committee under the
tanggal 22 Juni 2020 dan terakhir kali diperbarui dengan Board of Directors through the Decree of the Board of
Surat Keputusan Direksi No. SK-004/SMI/0422 tanggal Directors No. SK-007/SMI/0620 dated June 22, 2020, and
27 April 2022. last updated with the Decree of the Board of Directors No.
SK-004/SMI/0422 dated April 27, 2022.
Piagam Komite Kebijakan Umum dan General Policy and Procedure Committee
Prosedur Charter
Piagam Komite Kebijakan Umum dan Prosedur diatur The General Policy and Procedure Committee Committee
melalui Surat Keputusan Direksi No. SK-004/SMI/0422, is stipulated through Decree of the Board of Directors No.
yang memuat ketentuan mengenai: SK-004/SMI/0422, which sets forth provisions regarding:
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05 Tata Kelola Perusahaan
Good Corporate Governance
1. Pembentukan Komite Kebijakan Umum dan Prosedur; 1. Establishment of the General Policy and Procedure
Committee;
2. Keanggotaan Komite Kebijakan Umum dan Prosedur; 2. Membership of the General Policy and Procedure
Committee;
3. Tugas dan kegiatan Komite Kebijakan Umum dan 3. General Policy and Procedure Committee’s duties
Prosedur; dan and activities; and
4. Ketentuan Pengambilan Keputusan (Pejabat 4. Decision-Making Provisions (the Director serving as
Berwenang Memutuskan sekurang-kurangnya a Permanent Member of the Committee acts as the
adalah Direktur Utama, Direktur Manajemen Risiko Authorized Decision-Making Officer, including quorum
dan Direktur yang membidangi Divisi Policy Owner, requirements, delegation of authority, and circular
Kuorum, Pemberian Kuasa dan pengambilan decision-making processes).
keputusan secara sirkuler).
Komposisi dan Profil Komite Kebijakan Composition and Profile of the General
Umum dan Prosedur Policy and Procedure Committee
Berdasarkan Surat Keputusan Direksi No. SK-004/SMI/0422 Based on Decree of the Board of Directors No. SK-004/
tanggal 27 April 2022, komposisi Komite Kebijakan Umum SMI/0422 dated April 27, 2022, the composition of the
dan Prosedur tahun 2025 ditetapkan sebagai berikut: General Policy and Procedure Committee for 2025 is
determined as follows:
Ketua Direktur Manajemen Risiko
Head Director of Risk Management
Sekretaris Kepala Divisi Manajemen Risiko Terintegrasi (DMRT)
Secretary Head of Integrated Risk Management Division (DMRT)
1. Direktur Utama
President Director
2. Direktur Pembiayaan dan Investasi
Director of Financing and Investment
3. Direktur Operasional dan Keuangan
Anggota Tetap Director of Operation and Finance
Permanent Member 4. Direktur Manajemen Risiko
Director of Risk Management
5. Direktur Pembiayaan Publik dan Pengembangan Proyek
Director of Public Financing & Project Development
6. Kepala Divisi Manajemen Risiko Terintegrasi (DMRT)
Head of Integrated Risk Management Division (DMRT)
1. Kepala Divisi Kepatuhan
Anggota Tidak Tetap Head of Compliance Division
Non-Permanent Member 2. Kepala Divisi-divisi terkait kebijakan yang menjadi agenda Komite
Head of divisions related to the policy that are on the agenda of the Committee
Informasi mengenai profil anggota Komite Kebijakan Information regarding the profile of members of the
Umum dan Prosedur yang menjabat tahun 2025 disajikan General Policy and Procedure Committee serving in 2025
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
dalam bagian Profil Pejabat Eksekutif pada Bab Tata is presented in the Profile of Executive Officials section in
Kelola Perusahaan dalam Laporan Tahunan ini. the Corporate Governance Chapter of this Annual Report.
Pelaksanaan Rapat Komite Kebijakan Implementation of the General Policy and
Umum dan Prosedur Procedure Committee Meetings
Di tahun 2025, Komite Kebijakan Umum dan Prosedur In 2025, the General Policy and Procedure Committee
menyelenggarakan rapat sebanyak 19 (sembilan belas) held 19 (nineteen) meetings. Details of the discussion
kali. Rincian agenda pembahasan serta tingkat kehadiran agenda and attendance level of members of the General
anggota Komite Kebijakan Umum dan Prosedur dalam Policy and Procedure Committee at each meeting are
setiap rapat disajikan sebagai berikut: presented as follows:
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Tabel Agenda Rapat Komite Kebijakan Umum dan Prosedur
Table of Meeting Agenda of the General Policy and Procedure Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
Persetujuan Secara Sirkuler atas Prosedur Penerapan Strategi Anti Fraud – Revisi 1, Memo No.01/
23 Januari 2025 FPPR/KUP-S/0125
1
January 23, 2025 Circular Approval of the Procedure for the Implementation of Anti-Fraud Strategy – Revision 1,
Memo No. 01/FPPR/KUP-S/0125
Persetujuan Secara Sirkuler atas Prosedur Penyertaan Modal Perusahaan Bidang Infrastruktur
12 Februari 2025 – Revisi 2, Memo No.02/FPPR/KUP-S/0225
2
February 12, 2025 Circular Approval of the Procedure for Equity Investment in Infrastructure Sector Companies –
Revision 2, Memo No. 02/FPPR/KUP-S/0225
Persetujuan Sirkuler PBM atas RPKP 2025, Memo No.03/FPPR/KUP-S/0225
27 Februari 2025
3 Circular Approval of the PBM for the 2025 Internal Audit Work Plan (RPKP), Memo No. 03/FPPR/
February 27, 2025
KUP-S/0225
Persetujuan secara Sirkuler atas Prosedur Pembiayaan Publik Syariah, Memo No.04/FPPR/
17 Maret 2025
4 KUP-S/0325
March 17, 2025
Circular Approval of the Sharia Public Financing Procedure, Memo No. 04/FPPR/KUP-S/0325
Persetujuan Secara Sirkuler atas Prosedur Pengelolaan Dana Revisi I, Memo No.05/FPPR/
27 Maret 2025 KUP-S/0325
5
March 27, 2025 Circular Approval of the Fund Management Procedure – Revision I, Memo No. 05/FPPR/
KUP-S/0325
15 April 2025 Persetujuan Secara Sirkuler atas Prosedur Hubungan Industrial, Memo No.06/FPPR/KUP-S/0425
6
April 15, 2025 Circular Approval of the Industrial Relations Procedure, Memo No. 06/FPPR/KUP-S/0425
16 April 2025 Persetujuan Secara Sirkuler atas Prosedur Audit Internal, Memo No.07/FPPR/KUP-S/0425
7
April 16, 2025 Circular Approval of the Internal Audit Procedure, Memo No. 07/FPPR/KUP-S/0425
16 April 2025 Persetujuan Secara Sirkuler atas Prosedur Pembiayaan, Memo No.08/FPPR/KUP-S/0425
8
April 16, 2025 Circular Approval of the Financing Procedure, Memo No. 08/FPPR/KUP-S/0425
Persetujuan Secara Sirkuler atas Prosedur Akuntansi Instrumen Keuangan – Revisi 1, Memo
26 Mei 2025 No.09/FPPR/KUP-S/0525
9
May 26, 2025 Circular Approval of the Financial Instruments Accounting Procedure – Revision 1, Memo No.
09/FPPR/KUP-S/0525
Persetujuan Secara Sirkuler atas Prosedur Manajemen Risiko Operasional Revisi II, Memo No.10/
02 Juni 2025 FPPR/KUP-S/0625
10
June 2, 2025 Circular Approval of the Operational Risk Management Procedure – Revision II, Memo No. 10/
FPPR/KUP-S/0625
Persetujuan Secara Sirkuler atas Prosedur Pengelolaan Pembiayaan Khusus – Perubahan 3,
10 Juni 2025 Memo No.11/FPPR/KUP-S/0625
11
June 10, 2025 Circular Approval of the Special Financing Management Procedure – Amendment 3, Memo No.
11/FPPR/KUP-S/0625
Persetujuan Secara Sirkuler atas Prosedur Stress Testing Perseroan, Memo No.12/FPPR/
09 Juli 2025
12 KUP-S/0725
July 9, 2025
Circular Approval of the Company Stress Testing Procedure, Memo No. 12/FPPR/KUP-S/0725
Persetujuan Secara Sirkuler atas Prosedur Perlindungan Data Pribadi, Memo No.13/FPPR/
21 Juli 2025
13 KUP-S/0725
July 21, 2025
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Circular Approval of the Personal Data Protection Procedure, Memo No. 13/FPPR/KUP-S/0725
Persetujuan Secara Sirkuler atas Prosedur Pengelolaan TSI Revisi I, Memo No.14/FPPR/
27 Agustus 2025 KUP-S/0825
14
August 27, 2025 Circular Approval of the Information System Technology (TSI) Management Procedure –
Revision I, Memo No. 14/FPPR/KUP-S/0825
2 September 2025 Persetujuan Secara Sirkuler Prosedur RMI, Memo No.15/FPPR/KUP-S/0925
15
September 2, 2025 Circular Approval of the Risk Maturity Index (RMI) Procedure, Memo No. 15/FPPR/KUP-S/0925
17 November 2025 Persetujuan Secara Sirkuler Prosedur Jasa Konsultasi Revisi I, Memo No.16/FPPR/KUP-S/1125
16
November 17, 2025 Circular Approval of the Advisory Services Procedure – Revision I, Memo No. 16/FPPR/KUP-S/1125
Persetujuan Secara Sirkuler Prosedur Perencanaan, Pelaksanaan, Pencatatan, dan Pelaporan
Dana Pembiayaan Infrastruktur Sektor Panas Bumi (PISP), Memo No.17/FPPR/KUP-S/1125
24 November 2025
17 Circular Approval of the Procedure for the Planning, Implementation, Recording, and Reporting
November 24, 2025
of Financing Funds for the Geothermal Infrastructure Sector (PISP), Memo No. 17/FPPR/
KUP-S/1125
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tabel Agenda Rapat Komite Kebijakan Umum dan Prosedur
Table of Meeting Agenda of the General Policy and Procedure Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
Persetujuan Secara Sirkuler atas Prosedur Penerapan Program Anti Pencucian Uang,
Pencegahan Pendanaan Terorisme, dan Pencegahan Pendanaan Pemusnah Massal (APU, PPT,
15 Desember 2025 dan PPPSPM) – Revisi IV, Memo No.18/FPPR/KUP-S/1225
18
December 15, 2025 Circular Approval of the Procedure for the Implementation of the Anti-Money Laundering,
Counter-Terrorism Financing, and Counter-Proliferation Financing Program (AML, CTF, and
CPFWMD) – Revision IV, Memo No. 18/FPPR/KUP-S/1225
Persetujuan Secara Sirkuler atas Prosedur Jasa Pengembangan Proyek Revisi I, Memo No.19/
24 Desember 2025 FPPR/KUP-S/1225
19
December 24, 2025 Circular Approval of the Project Development Services Procedure – Revision I, Memo No. 19/
FPPR/KUP-S/1225
Tabel Kehadiran Anggota Komite Kebijakan Umum dan Prosedur
Table of Attendance of Members of the General Policy and Procedure Policy
Persentase
Jabatan di Komite
Nama Jabatan di Perseroan Position in the
Jumlah Kehadiran Kehadiran
Name Position in the Company Total Attendance Percentage of
Committee
Attendance
Direktur Manajemen Risiko Ketua
Pradana Murti 19 100%
Director of Risk Management Head
Sekretaris Komite/
Kepala Divisi Manajemen Risiko
Anggota Tetap
Terintegrasi
Peggy Fathiya Secretary of the 19 100%
Head of Integrated Risk
Committee/
Management Division
Permanent Member
Direktur Utama Anggota Tetap
Reynaldi Hermansjah 19 100%
President Director Permanent Member
Direktur Pembiayaan Publik
dan Pengembangan Proyek Anggota Tetap
Faaris Pranawa 6 100%
Director of Public Financing Permanent Member
and Project Development
Direktur Pembiayaan dan
Investasi Anggota Tetap
Sylvi Juniarty Gani 3 100%
Director of Financing and Permanent Member
Investment
Direktur Operasional dan
Keuangan Anggota Tetap
Aradita Priyanti 9 100%
Director of Operations and Permanent Member
Finance
Ibu Aradita Priyanti bertindak
selaku Direktur yang
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
membawahi Direktorat
Pembiayaan dan Investasi dan
Direktorat Manajemen Risiko Anggota Tetap
Aradita Priyanti*) 3 100%
Aradita Priyanti serves as Permanent Member
the Director overseeing the
Directorate of Financing and
Investment and the Directorate
of Risk Management.
*) Berdasarkan Sku-012/SMI/0225 Ibu Sylvi J. Gani kuasa Komite kepada Dir. OK, Sku-048/SMI/0425 Ibu Sylvi J. Gani kuasa komite kepada Dir. OK, SKu-267/SMI/1225 Bapak
Pradana Murti kuasa Komite kepada Dir. OK
*) Based on SKU-012/SMI/0225, Sylvi J. Gani granted Committee authority to the Director of Operations and Finance; based on SKU-048/SMI/0425, Sylvi J. Gani granted
Committee authority to the Director of Operations and Finance; and based on SKU-267/SMI/1225, Pradana Murti granted Committee authority to the Director of
Operations and Finance.
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Tugas, Tanggung Jawab dan Wewenang Duties, Responsibilities, and Authority
Komite Kebijakan Umum dan Prosedur of the General Policy and Procedure
Committee
Tugas dan kegiatan Komite Kebijakan Umum dan The duties and activities of the General Policy and
Prosedur yaitu melakukan pembahasan Kebijakan Procedure Committee are to conduct discussion on
Umum, pembahasan dan persetujuan Pedoman/ General Policy, discussion and approval of General Policy
Prosedur serta rekomendasi Sekretaris Komite lainnya and Procedures as well as other recommendations from
dan mengelola perubahan Pedoman/Prosedur sebagai the Secretary of the Committee, as a response to the
respons terhadap perkembangan aktivitas Perseroan Company’s activity growth according to its Work Plan
sesuai dengan Rencana Kerja dan Anggaran Perusahaan and Budget.
(RKAP).
Pelaksanaan Tugas Komite Kebijakan Implementation of Duties of the General
Umum dan Prosedur di Tahun 2025 Policy and Procedure Committee in 2025
Selama tahun 2025, Komite Kebijakan Umum dan During 2025, the General Policy and Procedure Committee
Prosedur telah melaksanakan tugasnya antara lain: carried out its duties, among others, as follows:
1. Persetujuan Sirkuler PBM atas RPKP 2025, Memo No.03/ 1. Circular Approval of PBM for the 2025 Internal Audit
FPPR/KUP-S/0225 Work Plan (RPKP), Memo No. 03/FPPR/KUP-S/0225.
2. Persetujuan Secara Sirkuler atas Kelompok Kebijakan 2. Circular Approval of the Business Policy Group,
Bisnis antara lain Prosedur Penyertaan Modal including but not limited to: the Procedure for Equity
Perusahaan Bidang Infrastruktur – Revisi 2, Memo Investment in Infrastructure Sector Companies
No.02/FPPR/KUP-S/0225; Prosedur Pembiayaan Publik – Revision 2, Memo No. 02/FPPR/KUP-S/0225; the
Syariah, Memo No.04/FPPR/KUP-S/0325; Prosedur Sharia Public Financing Procedure, Memo No. 04/
Pembiayaan, Memo No.08/FPPR/KUP-S/0425; Prosedur FPPR/KUP-S/0325; the Financing Procedure, Memo
Pembiayaan, Memo No.08/FPPR/KUP-S/0425; Prosedur No. 08/FPPR/KUP-S/0425; the Special Financing
Pengelolaan Pembiayaan Khusus – Perubahan Management Procedure – Amendment 3, Memo No.
3, Memo No.11/FPPR/KUP-S/0625; Prosedur Jasa 11/FPPR/KUP-S/0625; the Advisory Services Procedure –
Konsultasi Revisi I, Memo No.16/FPPR/KUP-S/1125; Revision I, Memo No. 16/FPPR/KUP-S/1125; the Procedure
Prosedur Perencanaan, Pelaksanaan, Pencatatan, for the Planning, Implementation, Recording, and
dan Pelaporan Dana Pembiayaan Infrastruktur Sektor Reporting of Financing Funds for the Geothermal
Panas Bumi (PISP), Memo No.17/FPPR/KUP-S/1125; Infrastructure Sector (PISP), Memo No. 17/FPPR/
Prosedur Jasa Pengembangan Proyek Revisi I, Memo KUP-S/1125; and the Project Development Services
No.19/FPPR/KUP-S/1225. Procedure – Revision I, Memo No. 19/FPPR/KUP-S/1225.
3. Persetujuan Secara Sirkuler atas Kelompok Kebijakan 3. Circular Approval of the Control Policy Group, including
Pengendalian antara lain Prosedur Penerapan Strategi but not limited to: the Procedure for the Implementation
Anti Fraud – Revisi 1, Memo No.01/FPPR/KUP-S/0125; of the Anti-Fraud Strategy – Revision 1, Memo No.
Prosedur Audit Internal, Memo No.07/FPPR/KUP-S/0425; 01/FPPR/KUP-S/0125; the Internal Audit Procedure,
Prosedur Stress Testing Perseroan, Memo No.12/FPPR/ Memo No. 07/FPPR/KUP-S/0425; the Company Stress
KUP-S/0725; Prosedur Penerapan Program Anti Testing Procedure, Memo No. 12/FPPR/KUP-S/0725;
Pencucian Uang, Pencegahan Pendanaan Terorisme, and the Procedure for the Implementation of the
dan Pencegahan Pendanaan Pemusnah Massal Anti-Money Laundering, Counter-Terrorism Financing, PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
(APU, PPT, dan PPPSPM) – Revisi IV, Memo No.18/FPPR/ and Counter-Proliferation Financing Program (AML,
KUP-S/1225. CTF, and CPFWMD) – Revision IV, Memo No. 18/FPPR/
KUP-S/1225.
4. Persetujuan Secara Sirkuler atas Kelompok Kebijakan 4. Circular Approval of the Support Policy Group,
Dukungan antara lain Prosedur Pengelolaan Dana including but not limited to: the Fund Management
Revisi I, Memo No.05/FPPR/KUP-S/0325; Prosedur Procedure – Revision I, Memo No. 05/FPPR/KUP-S/0325;
Hubungan Industrial, Memo No.06/FPPR/KUP-S/0425; the Industrial Relations Procedure, Memo No. 06/FPPR/
Prosedur Akuntansi Instrumen Keuangan – Revisi 1, KUP-S/0425; the Financial Instruments Accounting
Memo No.09/FPPR/KUP-S/0525; Prosedur Akuntansi Procedure – Revision 1, Memo No. 09/FPPR/KUP-S/0525;
Instrumen Keuangan – Revisi 1, Memo No.09/FPPR/ the Operational Risk Management Procedure –
KUP-S/0525; Prosedur Manajemen Risiko Operasional Revision II, Memo No. 10/FPPR/KUP-S/0625; the
Revisi II, Memo No.10/FPPR/KUP-S/0625; Prosedur Personal Data Protection Procedure, Memo No. 13/
Perlindungan Data Pribadi, Memo No.13/FPPR/ FPPR/KUP-S/0725; the Information System Technology
KUP-S/0725; Prosedur Pengelolaan TSI Revisi I, Memo (TSI) Management Procedure – Revision I, Memo No.
No.14/FPPR/KUP-S/0825; Persetujuan Secara Sirkuler 14/FPPR/KUP-S/0825; and the Risk Maturity Index (RMI)
Prosedur RMI, Memo No.15/FPPR/KUP-S/0925. Procedure, Memo No. 15/FPPR/KUP-S/0925.
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05 Tata Kelola Perusahaan
Good Corporate Governance
KOMITE TEKNOLOGI INFORMATION SYSTEM
SISTEM INFORMASI TECHNOLOGY COMMITTEE
Dalam menghadapi percepatan digitalisasi industri In response to the shifting industrial landscape and
dan perubahan tren masyarakat, PT SMI menegaskan societal trends toward digitalization, PT SMI emphasizes
bahwa kesiapan teknologi dan keandalan sistem that the readiness and reliability of technology and
informasi merupakan fondasi utama bagi operasional information systems applied to operational and business
dan pengelolaan usaha, khususnya di sektor pembiayaan management activities are essential in any industry,
yang menuntut ketelitian dan akurasi tinggi untuk especially in the financing industry that upholds precision
menjaga kepercayaan publik. Berdasarkan kebutuhan and accuracy to maintain public trust. Based on this
strategis tersebut, Perseroan memiliki Komite Teknologi understanding, the Company established the Information
Sistem Informasi yang dibentuk pada tahun 2014 sebagai System Technology Committee in 2014 as a committee
komite di bawah Direksi melalui Surat Keputusan Direksi under the Board of Directors through the Decree of the
No. SK-6/SMI/0514 tanggal 8 Mei 2014 yang diperbaharui Board of Directors No. SK-6/SMI/0514 dated May 8, 2014,
terakhir melalui Surat Keputusan Direksi No. SK-010/ last updated through the Decree of the Board of Directors
SMI/0422 tanggal 27 April 2022. No. SK-010/SMI/0422 dated April 27, 2022.
Piagam Komite Teknologi Sistem Informasi Information System Technology
Committee Charter
Piagam Komite Teknologi Sistem Informasi diatur melalui The Information System Technology Committee Charter
Surat Keputusan Direksi No. SK-010/SMI/0422, yang is stipulated through Decree of the Board of Directors No.
memuat ketentuan mengenai: SK-010/SMI/0422, which sets forth provisions regarding:
1. Pembentukan Komite Teknologi Sistem Informasi; 1. Establishment of the Information System Technology
Committee;
2. Keanggotaan Komite Teknologi Sistem Informasi; 2. Membership of the Information System Technology
Committee;
3. Tugas dan kegiatan Komite Teknologi Sistem 3. The Information System Technology Committee’s
Informasi; dan Duties and Activities; and
4. Ketentuan Pengambilan Keputusan (Direktur yang 4. Decision-Making Provisions (the Director serving as
duduk sebagai Anggota Tetap Komite bertindak a Permanent Member of the Committee acts as the
sebagai Pejabat Berwenang Memutus, Kuorum, Authorized Decision-Making Officer, including quorum
Pemberian Kuasa dan pengambilan keputusan requirements, delegation of authority, and circular
secara sirkuler). decision-making processes); and
Komposisi dan Profil Komite Teknologi Composition and Profile of the Information
Sistem Informasi System Technology Committee
Berdasarkan Surat Keputusan Direksi No. SK-010/SMI/0422 Based on Decree of the Board of Directors No. SK-010/
tanggal 27 April 2022, komposisi Komite Teknologi Sistem SMI/0422 dated April 27, 2022, the composition of the
Informasi tahun 2025 ditetapkan sebagai berikut: Information System Technology Committee for 2025 is
determined as follows:
Ketua Direktur Operasional dan Keuangan
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Head Director of Operations & Finance
Sekretaris Kepala Divisi Teknologi Informasi (DTI)
Secretary Head of Information Technology Division
1. Direksi
Board of Directors
2. Kepala Divisi Teknologi Informasi (DTI)
Head of Information Technology Division
3. Kepala Divisi Pengelolaan Operasional Pembiayaan (DPOP)
Anggota Tetap Head of Financing Operational Management Division
Permanent Member 4. Kepala Divisi Akuntansi dan Administrasi Aset (DAA)
Head of Accounting & Asset Administration Division
5. Kepala Divisi Pengembangan Korporasi & Manajemen Inisiatif (DPKMI)
Head of Corporate Development & Initiative Management Division
6. Kepala Divisi Manajemen Risiko Terintegrasi (DMRT)
Head of Integrated Risk Management Division
Anggota Tidak Tetap Kepala Divisi yang terkait dengan agenda pembahasan
Non-Permanent Member Head of relevant division to agenda of discussion
Informasi mengenai profil anggota Komite Teknologi members of the Information System Technology
Sistem Informasi yang menjabat tahun 2025 disajikan Committee serving in 2025 is presented in the Profile of
dalam bagian Profil Pejabat Eksekutif pada Bab Tata Executive Officials section in the Corporate Governance
638 Kelola Perusahaan dalam Laporan Tahunan ini. Chapter of this Annual Report.
Page 369
Pelaksanaan Rapat Komite Teknologi Implementation of the Information System
Sistem Informasi Technology Committee Meetings
Di tahun 2025, Komite Teknologi Sistem Informasi In 2025, the Information System Technology Committee
menyelenggarakan rapat sebanyak 2 (dua) kali. Rincian held 2 (two) meetings. Details of the discussion agenda
agenda pembahasan serta tingkat kehadiran anggota and attendance level of members of the Information
Komite Teknologi Sistem Informasi dalam setiap rapat System Technology Committee at each meeting are
disajikan sebagai berikut: presented as follows:
Tabel Agenda Rapat Komite Teknologi Sistem Informasi
Table of Meeting Agenda of the Information System Technology Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
Tata Kelola TI dan Business Resiliency PT SMI, Timeline Penguatan BCM - DRP dan IT Cyber
Resilience 2025, Aktivitas Business Continuity Management (BCM) & Disaster Recovery Plan
25 November 2025 (DRP).
1.
November 25, 2025 IT Governance and Business Resiliency of PT SMI, Timeline for Strengthening BCM–DRP and IT
Cyber Resilience 2025, Business Continuity Management (BCM) and Disaster Recovery Plan
(DRP) Activities.
Tindak Lanjut Rapat Komite TI – 25 November 2025, Update Progress, Inisiatif TI dan Prognosa
Penyelesaian, Update Tindak Lanjut Audit Eksternal – Internal, Rencana Kerja TI 2026,
23 Desember 2025 Progress Implementasi RSTI 2024 – 2028
2.
December 23, 2025 Follow-up to the IT Committee Meeting – November 25, 2025, Progress Update, IT Initiatives
and Completion Forecast, Update on Follow-up to External and Internal Audits, IT Work Plan
2026, Progress of the Implementation of the IT Strategic Plan 2024–2028.
Tabel Kehadiran Anggota Komite Teknologi Sistem Informasi
Table of Attendance of Members of the Information System Technology Committee
Persentase
Jabatan di Komite Jumlah Kehadiran
Nama Jabatan di Perseroan Position in the Total Attendance
Kehadiran
Name Position in the Company Percentage of
Committee
Attendance
Direktur Operasional &
Keuangan Ketua Komite
Aradita Priyanti 2 100%
Director of Operations & Head of the Committee
Finance
Direktur Utama Anggota Tetap
Reynaldi Hermansjah 2 100%
President Director Permanent Member
Direktur Pembiayaan Publik &
Pengembangan Proyek Anggota Tetap
Faaris Pranawa 2 100%
Director of Public Financing & Permanent Member
Project Development
Direktur Pembiayaan &
Investasi Anggota Tetap
Sylvi Juniarty Gani 2 100%
Director of Financing & Permanent Member
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Investment
Direktur Manajemen Risiko Anggota Tetap
Pradana Murti 2 100%
Director of Risk Management Permanent Member
Kepala Divisi Teknologi
Romanus Tory Informasi Anggota Tetap
2 100%
Kusumantara Head of Information Permanent Member
Technology Division
Kepala Divisi Akuntansi dan
Administrasi Aset
Anggota Tetap
Syahrial Noviananta Head of the Accounting and 2 100%
Permanent Member
Asset Administration Division
Kepala Divisi Pengelolaan
Operasional Pembiayaan
Anggota Tetap
Rintis Sitaresmi Head of the Financing 2 100%
Permanent Member
Operations Management
Division
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tabel Kehadiran Anggota Komite Teknologi Sistem Informasi
Table of Attendance of Members of the Information System Technology Committee
Persentase
Jabatan di Komite Jumlah Kehadiran
Nama Jabatan di Perseroan Position in the Total Attendance
Kehadiran
Name Position in the Company Percentage of
Committee
Attendance
Kepala Divisi Pengembangan
Korporasi dan Manajemen
Inisiatif Anggota Tetap
Yuni Iswardi 2 100%
Head of the Corporate Permanent Member
Development and Initiative
Management Division
Kepala Divisi Manajemen
Risiko Terintegrasi Anggota Tetap
Peggy Fathiya 2 100%
Head of the Integrated Risk Permanent Member
Management Division
Tugas, Tanggung Jawab dan Wewenang Duties, Responsibilities, and Authority
Komite Teknologi Sistem Informasi of the Information System Technology
Committee
Komite Teknologi Sistem Informasi membantu Direksi The Information System Technology Committee assists
dalam memastikan ketersediaan teknologi dan sistem the Board of Directors in ensuring the availability of reliable
informasi yang andal dan optimal untuk berjalannya and optimal technology and information systems for the
operasional dan pengelolaan Perseroan, melalui tugas Company’s operations and management, through the
dan tanggung jawab sebagai berikut: following duties and responsibilities:
1. Memutuskan Master Plan Teknologi Informasi yang 1. Determine the Information Technology Master Plan in
sesuai RJPP dengan memperhatikan hal-hal sebagai accordance with RJPP, with regards to the following
berikut: matters:
a. Rencana pelaksanaan (roadmap dan prioritas); a. Implementation plan (roadmap and priority);
b. Sumber daya yang dibutuhkan (keuangan, b. Resources needed (finance, human capital, and
sumber daya manusia, dan waktu); time);
c. Dampak dan manfaat yang diperoleh saat c. Impact and benefit gained during implementation;
rencana diterapkan;
d. Prioritas proyek-proyek Teknologi Sistem Informasi; d. Information System Technology priority projects;
dan
e. Kesesuaian teknologi Sistem Informasi dengan e. Compatibility of Information System technology to
kebutuhan sistem informasi manajemen the Company’s information system management
Perseroan. needs.
2. Membahas dan memutuskan rencana tahunan 2. Discuss and decide on the Information Technology
Teknologi Informasi, antara lain mengenai: annual plan, among others regarding:
a. Penerapan manajemen risiko di bidang Teknologi a. Implementation of risk management in Information
Sistem Informasi; System Technology;
b. Pemantauan kinerja Teknologi Sistem Informasi b. Monitoring Information System Technology
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
dan mengupayakan peningkatannya; performance and striving to improve it;
c. Penyelesaian permasalahan terkait penggunaan c. Problem solving on the use of Information System
Teknologi Sistem Informasi yang tidak dapat Technology that cannot be resolved between user
diselesaikan oleh satuan kerja Pengguna dengan unit and provider unit;
satuan kerja penyelenggara;
d. Kecukupan dan alokasi sumber daya yang dimiliki d. Adequacy and allocation of the Company’s
Perseroan; dan resources; and
e. Dalam hal lainnya yang terkait dengan Teknologi e. Other matters related to Information System
Sistem Informasi. Technology.
Melakukan pembahasan antara lain mengenai Conduct discussion regarding monitoring of annual work
monitoring implementasi rencana tahunan terhadap plan implementation against the Information Technology
Master Plan Teknologi Informasi, pemenuhan KPI IT index Master Plan, fulfillment of Information Technology KPI
dari sisi IT Uptime dan Progress Inisiatif Divisi Teknologi from aspect of IT Uptime, and progress of Initiatives in
Informasi. the Information Technology Division.
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Pelaksanaan Tugas Komite Teknologi Implementation of Duties of the Information
Sistem Informasi di Tahun 2025 System Technology Committee in 2025
Selama tahun 2025, Komite Teknologi Sistem Informasi During 2025, the Information System Technology
telah melaksanakan tugasnya antara lain: Committee carried out its duties, among others, as follows:
1. Pemenuhan Inisiatif TI selama tahun 2025. 1. Completion of IT initiatives during 2025.
2. Pemenuhan Tindak Lanjut Audit Eksternal – Internal 2. Completion of follow-up actions from external and
terkait TI. internal audits related to IT.
3. Penyusunan Rencana Kerja TI 2026. 3. Preparation of the 2026 IT Work Plan.
KOMITE PENGELOLAAN HUMAN CAPITAL MANAGEMENT
SUMBER DAYA MANUSIA COMMITTEE
Seiring dengan implementasi RPKP 2023 yang In order to fulfill the Company’s Policy Development
disahkan melalui Keputusan Rapat Komite Kebijakan Plan for the year 2023, which was approved based on
Umum dan Prosedur Nomor 01/FPPR/KUP/0223, PT SMI the General Policy and Procedure Committee Meeting
membentuk Komite Pengelolaan Sumber Daya Manusia. Decision No. 01/FPPR/KUP/0223, PT SMI established the
Komite ini berperan strategis dalam mengelola dan Human Capital Management Committee in 2023 to assist
mengembangkan SDM Perseroan, dengan penerapan in the management and development of the Company’s
prinsip kehati-hatian, manajemen risiko, dan GCG, guna human capital, applying principles of prudence, risk
memastikan kapabilitas SDM mendukung pencapaian management, and Good Corporate Governance (GCG).
tujuan korporasi.
Pedoman Kerja Komite Pengelolaan Work Guidelines of the Human Capital
Sumber Daya Manusia Management Committee
Piagam Komite Pengelolaan Sumber Daya Manusia diatur The work guidelines for the Human Capital Management
melalui Surat Keputusan Direksi No. SK-014/SMI/1123, yang Committee, as regulated in the Decree of the Board of
memuat ketentuan mengenai: Directors No. SK-014/SMI/1123, set out the following:
1. Pembentukan Komite Pengelolaan Sumber Daya 1. Establishment of the Human Capital Management
Manusia; Committee;
2. Keanggotaan Komite Pengelolaan Sumber Daya 2. Membership of the Human Capital Management
Manusia; Committee;
3. Tugas dan kegiatan Komite Pengelolaan Sumber 3. The Human Capital Management Committee’s duties
Daya Manusia; dan and activities; and
4. Ketentuan Pengambilan Keputusan (Direktur yang 4. Decision-Making Provisions (the Director serving as
duduk sebagai Anggota Tetap Komite bertindak a Permanent Member of the Committee acts as the
sebagai Pejabat Berwenang Memutus, Kuorum, Authorized Decision-Making Officer, including quorum
Pemberian Kuasa, dan Pengambilan Keputusan requirements, delegation of authority, and circular
secara sirkuler) decision-making processes).
Komposisi dan Profil Komite Pengelolaan Composition and Profile of the Human
Sumber Daya Manusia Capital Management Committee
Berdasarkan Surat Keputusan Direksi No. SK-014/SMI/1123 Based on Decree of the Board of Directors No. SK-014/ PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
tanggal 7 November 2023, komposisi Komite Pengelolaan SMI/1123 dated November 7, 2023, the composition of
Sumber Daya Manusia tahun 2025 ditetapkan sebagai the Human Capital Management Committee for 2025
berikut: is determined as follows:
Ketua Direktur Utama (merangkap Anggota Tetap)
Head President Director (also serving as Permanent Member)
Sekretaris Kepala Divisi Sumber Daya Manusia (merangkap Anggota Tetap)
Secretary Head of Human Capital Division (also serving as Permanent Member)
1. Direktur Pembiayaan & Investasi
Director of Financing & Investments
2. Direktur Operasional & Keuangan
Anggota Tetap Director of Operations & Finance
Permanent Member 3. Direktur Manajemen Risiko
Director of Risk Management
4. Direktur Pembiayaan Publik & Pengembangan Proyek
Director of Public Financing & Project Development
Kepala Divisi yang terkait berdasarkan agenda Komite dan pertimbangan Sekretaris Komite
Anggota Tidak Tetap
Head of the relevant Division based on the Committee's agenda and the consideration of Secretary of the
Non-Permanent Member Committee 641
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05 Tata Kelola Perusahaan
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Informasi mengenai profil anggota Komite Pengelolaan Information regarding the profile of members of the
Sumber Daya Manusia yang menjabat tahun 2025 Human Capital Management Committee serving in 2025
disajikan dalam bagian Profil Pejabat Eksekutif pada is presented in the Profile of Executive Officials section in
Bab Tata Kelola Perusahaan dalam Laporan Tahunan ini. the Corporate Governance Chapter of this Annual Report.
Pelaksanaan Rapat Komite Pengelolaan Implementation of the Human Capital
Sumber Daya Manusia Management Committee Meetings
Di tahun 2025, Komite Pengelolaan Sumber Daya Manusia In 2025, the Human Capital Management Committee
menyelenggarakan rapat sebanyak 2 (dua) kali. Rincian held 2 (two) meetings. Details of the discussion agenda
agenda pembahasan serta tingkat kehadiran anggota and attendance level of members of the Human Capital
Komite Pengelolaan Sumber Daya Manusia dalam setiap Management Committee at each meeting are presented
rapat disajikan sebagai berikut: as follows:
Tabel Agenda Rapat Komite Pengelolaan Sumber Daya Manusia
Table of Meeting Agenda of the Human Capital Management Committee
Tanggal Rapat Agenda Rapat
No. Meeting Agenda
Date of Meeting
Pembahasan Retreat Korporasi Tahun 2025 Penyusunan KPI Kepala Divisi PT Sarana Multi
24 Februari 2025 Infrastruktur (Persero) Tahun 2025.
1.
February 24, 2025 Discussion on the 2025 Corporate Retreat and the formulation of the 2025 KPI for Division
Heads of PT Sarana Multi Infrastruktur (Persero).
Pembahasan Penetapan Kinerja dan Alokasi Performance Review atas Kinerja Perseroan
24 Maret 2025 Tahun 2024.
2.
March 24, 2025 Discussion on the Performance Determination and Performance Review Allocation for the
Company’s Performance in 2024.
Tabel Kehadiran Anggota Komite Pengelolaan Sumber Daya Manusia
Table of Attendance of Members of the Human Capital Management Committee
Jabatan di Persentase
Jabatan di Komite
Nama Perseroan Position in the
Jumlah Kehadiran Kehadiran
Name Position in the Total Attendance Percentage of
Committee
Company Attendance
Ketua Komite
Pengelolaan SDM
Bpk. Reynaldi Direktur Utama
Head of the Human 2 100%
Hermansjah President Director
Capital Management
Committee
Anggota Tetap Komite
Direktur Pembiayaan
Pengelolaan SDM
dan Investasi
Ibu Sylvi Juniarty Gani Permanent Member 2 100%
Director of Financing
of the Human Capital
and Investment
Management Committee
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Direktur Pembiayaan
Anggota Tetap Komite
Publik dan
Pengelolaan SDM
Pengembangan Proyek
Bpk. Faaris Pranawa Permanent Member 2 100%
Director of Public
of the Human Capital
Financing and Project
Management Committee
Development
Anggota Tetap Komite
Direktur Manajemen
Pengelolaan SDM
Risiko
Bpk. Pradana Murti Permanent Member 2 100%
Director of Risk
of the Human Capital
Management
Management Committee
Anggota Tetap Komite
Direktur Operasional
Pengelolaan SDM
dan Keuangan
Ibu Aradita Priyanti Permanent Member 2 100%
Director of Operations
of the Human Capital
and Finance
Management Committee
Sekretaris Komite
Kepala Divisi Sumber
Pengelolaan SDM
Bpk. Franciscus Daya Manusia
Secretary of the Human 2 100%
Hasiholan Tamba Head of Humans
Capital Management
Resources Division
Committee
642
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Tugas dan Tanggung Jawab Komite Duties and Responsibilities of the Human
Pengelolaan Sumber Daya Manusia Capital Management Committee
Komite Pengelolaan Sumber Daya Manusia memiliki The duties and responsibilities of the Human Capital
tugas dan tanggung jawab sebagai berikut: Management Committee include:
1. Pembahasan dan penetapan prioritas strategis 1. Discussing and establishing strategic priorities for the
pengelolaan dan pengembangan SDM Perseroan management and development of the Company’s
termasuk penerapan budaya dan nilai Perseroan; human capital, including the implementation of the
Company’s culture and values.
2. Dalam hal diperlukan, memberikan rekomendasi 2. Where necessary, provide recommendations in the
dalam proses pengelolaan SDM yang antara lain human capital management process, which includes,
mencakup: among others:
a. Pengelolaan organisasi; a. Organizational management;
b. Pengelolaan kebutuhan SDM; b. Human capital needs management;
c. P e n g e m b a n g a n k a r y a w a n d a n t a l e n t c. Employee development and talent management;
management;
d. Pendidikan dan pelatihan karyawan; d. Employee education and training;
e. Sistem manajemen kinerja; e. Performance management system;
f. Hubungan industrial; f. Industrial relations;
g. Pengelolaan administrasi SDM. g. Human capital administration management.
3. Membahas dan merekomendasikan ketentuan 3. Discussing and recommending the provisions of
kewenangan (termasuk pendelegasiannya) dalam authority (including delegation of authority) related
rangka pengelolaan SDM. to human capital management.
4. Melakukan pembahasan dan memberikan 4. Discussing and providing recommendations regarding
rekomendasi terkait pelanggaran sedang dan berat moderate and severe employee violations.
terhadap karyawan.
5. Kegiatan SDM lainnya yang memerlukan pembahasan 5. Other human capital activities requiring discussion
dan persetujuan Komite Pengelolaan Sumber Daya and approval by the Human Capital Management
Manusia. Committee.
Pelaksanaan Tugas Komite Pengelolaan Implementation of Duties of the Human
Sumber Daya Manusia di Tahun 2025 Capital Management Committee in 2025
Selama tahun 2025, Komite Pengelolaan Sumber Daya During 2025, the Human Capital Management Committee
Manusia telah melaksanakan tugasnya antara lain: carried out its duties, among others, as follows:
1. Pembahasan dan penyusunan KPI Korporasi dan KPI 1. Discussion and formulation of the Corporate KPI
kepala Divisi PT Sarana Multi Infrastruktur (Persero) and the KPI for Division Heads of PT Sarana Multi
Tahun 2025. Infrastruktur (Persero) for 2025.
2. Pembahasan penetapan kinerja dan alokasi 2. Discussion on the performance determination
Performance Review atas kinerja Perseroan Tahun and allocation of the Performance Review for the
2024. Company’s performance in 2024.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
643
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05 Tata Kelola Perusahaan
Good Corporate Governance
SEKRETARIS PERUSAHAAN
CORPORATE SECRETARY
Sekretaris Perusahaan memimpin Divisi Sekretariat The Corporate Secretary leads the Corporate Secretariat
Perusahaan dan bertugas sebagai penghubung Division and serves as the Company’s liaison with all
Perseroan dengan seluruh pemangku kepentingan. stakeholders. This role includes managing communication
Peran ini mencakup pengelolaan komunikasi berbasis based on transparency, investor relations, as well as
keterbukaan, hubungan investor, serta pembangunan building and maintaining the Company’s image, while
dan pemeliharaan citra Perseroan, sekaligus memastikan ensuring compliance with prevailing laws and regulations.
kepatuhan terhadap peraturan perundang-undangan.
Pembentukan Sekretaris Perusahaan merujuk pada The establishment of the Corporate Secretary refers to
Peraturan Menteri Keuangan No. 88/PMK.06/2015 tentang Regulation of the Minister of Finance No. 88/PMK.06/2015
Penerapan Tata Kelola Perusahaan yang Baik pada concerning the Implementation of Good Corporate
Perseroan, yang mewajibkan Direksi menyelenggarakan Governance in the Company, which requires the Board
fungsi kesekretariatan melalui mekanisme internal. of Directors to carry out the secretariat function through
an internal mechanism.
Divisi Sekretariat Perusahaan dipimpin Sekretaris The Corporate Secretariat Division is led by the Corporate
Perusahaan sesuai Peraturan Direksi No. PD-020/SMI/1223. Secretary in accordance with Regulation of the Board of
Sekretaris Perusahaan bertanggung jawab langsung Directors No. PD-020/SMI/1223. The Corporate Secretary
kepada Direksi, dengan pengangkatan, penggantian, reports directly to the Board of Directors, with appointment,
atau pemberhentian yang memerlukan persetujuan replacement, or dismissal requiring the approval of the
Dewan Komisaris. Struktur organisasi Divisi Sekretariat Board of Commissioners. The organizational structure of
Perusahaan adalah sebagai berikut: the Corporate Secretariat Division is as follows:
Kepala Divisi Sekretariat Perusahaan
Head of Company Secretariat Division
Team Leader GCG Compliance, Team Leader Corporate
Biro Direksi & Administrasi Team Leader Komunikasi Social Responsibility
GCG Compliance Team Leader, Communication Team Leader Team Leader Corporate
Director & Administration Bureau Social Responsibility
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Biro Direksi &
Administrasi
GCG & Komunikasi Web Master
Directors & CSR
Compliance Administration Communication Webmaster
Bureau
Pengadaan & Kepala Divisi | Head of Division
Sekretaris Direksi
Budgeting
Secretary to the Team Leader | Team Leader
Procurement &
Board of Directors
Budgeting Staf | Staff
PROFIL SEKRETARIS PERUSAHAAN PROFILE OF THE CORPORATE
SECRETARY
Berdasarkan Surat Keputusan Direksi No. SK005/SMI/0317 Based on Decree of the Board of Directors No. SK005/
tanggal 31 Maret 2017 dengan persetujuan Dewan SMI/0317 dated March 31, 2017, with the approval of the
Komisaris melalui surat No. S-007/SMI/DK/0317 tertanggal Board of Commissioners through Letter No. S-007/SMI/
2 Maret 2017, Ramona Harimurti ditunjuk sebagai DK/0317 dated March 2, 2017, Ramona Harimurti was
644 Sekretaris Perusahaan. Profil Sekretaris Perusahaan dapat appointed as Corporate Secretary. The profile of the
dilihat sebagai berikut: Corporate Secretary is presented as follows:
Page 375
Ramona Harimurti
Sekretaris Perusahaan
Corporate Secretary
54 tahun | 54 years old
Indonesia | Indonesian
Jakarta, Indonesia
Surat Keputusan Direksi No. SK-005/SMI/0317 tanggal 31 Maret 2017 dengan persetujuan
Dewan Komisaris melalui surat No. S-007/SMI/DK/0317 tertanggal 2 Maret 2017.
Dasar Hukum Pengangkatan
Decree of the Board of Directors No. SK-005/SMI/0317 dated March 31, 2017, and granted
Legal Basis of Appointment approval from the Board of Commissioners by official letter No. S-007/SMI/ DK/0317
dated March 2, 2017.
Riwayat Pendidikan Sarjana Hukum, Universitas Indonesia (1995)
Educational Background Bachelor of Law, University of Indonesia (1995)
• Sertifikasi Manajemen Risiko Level 1 (Badan Sertifikasi Manajemen Risiko/BSMR &
Global Association of Risk Professionals/GARP) (2006)
• Sertifikasi Manajemen Risiko Level 2 (Badan Sertifikasi Manajemen Risiko/BSMR &
Sertifikasi Global Association of Risk Professionals/GARP) (2008)
Certification • Risk Management Certification Level 1 (Risk Management Certification Bureau/BSMR
& Global Association of Risk Professionals/GARP) 2006
• Risk Management Certification Level 2 (Risk Management Certification Bureau/BSMR
& Global Association of Risk Professionals/GARP) 2008
• VP Senior Relationship Manager – Divisi Pembiayaan & Investasi (2013-2017)
• VP Senior Relationship Manager – Corporate Banking Group, Telecommunication,
Media and Utilities Industry Group PT Bank UOB Indonesia (2011-2013)
• AVP, Senior Relationship Manager – Financial Institution PT Bank Permata, Tbk (2010-
2011)
• Senior Manager PT Bank CIMB Niaga, Tbk (2007-2010)
• Sub Manager PT Bank Finconesia (1997-2007)
• Legal Officer PT Bali Turtle Island Development (1997)
Riwayat Pekerjaan • Legal Staff PT Bali Turtle Island Development (1995-1997)
Career History • VP Senior Relationship Manager – Financing & Investment Division (2013-2017)
• VP Senior Relationship Manager – Corporate Banking Group, Telecommunication,
Media and Utilities Industry Group PT Bank UOB Indonesia (2011-2013)
• AVP, Senior Relationship Manager – Financial Institution PT Bank Permata, Tbk (2010-
2011)
• Senior Manager PT Bank CIMB Niaga, Tbk (2007-2010)
• Sub Manager PT Bank Finconesia (1997-2007)
• Legal Officer PT Bali Turtle Island Development (1997)
• Legal Staff PT Bali Turtle Island Development (1995-1997) PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Tidak mempunyai rangkap jabatan baik sebagai anggota Dewan Komisaris, anggota
Direksi, dan/atau anggota komite serta jabatan lainnya di Perseroan.
Rangkap Jabatan
Has no concurrent positions, neither as a member of the Board of Commissioners
Concurrent Positions nor a member of the Board of Directors, and/or other committee members and other
positions in the Company
Tidak memiliki hubungan afiliasi baik dengan anggota Direksi, anggota Dewan
Hubungan Afiliasi Komisaris lainnya maupun dengan pemegang saham pengendali dan utama.
Affiliation Has no affiliation with members of the Board of Directors, other members of the Board of
Commissioners or with the controlling and major shareholders.
Tugas dan Fungsi Sekretaris Perusahaan Duties and Function of the Corporate
Secretary
Sesuai dengan Surat Keputusan No. PD-020/SMI/1223 According to No. PD-020/SMI/1223 concerning the Main
tentang Tugas Pokok dan Divisi Sekretariat Perusahaan, Duties and Division of the Corporate Secretary, the
Sekretaris Perusahaan memiliki tugas dan fungsi utama Corporate Secretary’s duties and functions include:
sebagai berikut:
1. Pelaksanaan fungsi penerapan GCG: 1. Implementation of GCG implementation function:
a. Penyampaian laporan dan informasi kegiatan a. Submit reports and information on the Company’s
Perseroan kepada Pemegang Saham dan Institusi activities to Shareholders and supervision
Pengawas; institutions 645
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05 Tata Kelola Perusahaan
Good Corporate Governance
b. Penyelenggaraan kegiatan korporasi seperti b. Organize corporation activities such GMS, the
penyelenggaraan RUPS, Rapat Direksi dan kegiatan Board of Directors Meetings and other corporate
korporasi lainnya; dan events; and
c. Pelaksanaan kepatuhan Tata Kelola Perusahaan c. Implement Good Corporate Governance
yang Baik. Compliance.
2. Pelaksanaan fungsi komunikasi: 2. Implementation of communication function:
a. Pemeliharaan dan pengembangan hubungan a. Maintain and develop good relationships with
baik dengan pemangku kepentingan eksternal the Company’s external stakeholders, both with
Perseroan, baik dengan Pemegang Saham dan Shareholders and relevant organizations as well
lembaga maupun institusi lembaga terkait, media as institutions, mass media, investors, and other
massa, investor, dan masyarakat umum lainnya; general public;
b. Pelaksanaan kegiatan komunikasi internal b. Conduct Internal Communication activities, both
Perseroan, baik melalui penyampaian informasi by disseminating information and organizing
maupun penyelenggaraan kegiatan karyawan; employees’ activities;
c. Pelaksanaan kegiatan sosialisasi Perseroan; dan c. Conduct Company's socialization; and
d. Pelaksanaan Survei Kepuasan Pelanggan. d. Conduct Stakeholders Satisfaction Survey
3. Biro Direksi dan Administrasi: 3. Board of Directors and Administration Bureau:
a. Menyelenggarakan RUPS, Rapat Direksi dan rapat a. Organize GMS, the Board of Directors meeting, and
lainnya; other meetings;
b. Penatausahaan dan penyimpanan dokumen b. Administration and Filling of the Company’s
Perseroan; dan documents; and
c. Pelaksanaan dukungan Direksi dan budget control. c. Supporting role to the Board of Directors and
budget control
4. Pelaksanaan tanggung jawab sosial Perseroan: 4. Implementation of Corporate Social Responsibility
(CSR):
a. TJSL Bina Lingkungan; dan a. CSR Community Development; and
b. TJSL Non-Bina Lingkungan b. CSR Non-Community Development.
c. Pengaduan Konsumen; c. Customer Complaint;
d. Pengelolaan pengaduan konsumen. d. Customer Complaint Management
Pengembangan Kompetensi Sekretaris Competency Development of the
Perusahaan di 2025 Corporate Secretary in 2025
Sepanjang 2025, Perseroan memperkuat peran Sekretaris Throughout 2025, the Company strengthened the role of
Perusahaan melalui pengembangan kompetensi yang the Corporate Secretary through targeted competency
terarah dan sesuai kebutuhan tata kelola. Melalui development aligned with governance needs. Through
berbagai program pendidikan dan pelatihan, fungsi various education and training programs, this function
ini dipastikan tetap mampu mendukung proses was ensured to remain capable of optimally supporting
pengambilan keputusan dan keterbukaan informasi the decision-making process and information disclosure.
secara optimal. Adapun program yang diikuti meliputi: The programs attended include the following:
Nama Pelatihan Tanggal Penyelenggara Tempat
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
No. Date Organizer Venue
Title of Training
1. Business Communication Skills 17/07/2025 GNV Consulting 2
PT. Tiga Fokus
2. Forging Resiliency Through Togetherness in Diversity (DU) 27/11/2025 4
Utama
Workshop Produk Hybrid Financing SMI Eksternal
3. 07/08/2025 1
Hybrid Financing Products Workshop External SMI
Pembekalan Internal - Pengenalan Tata Cara Pemeriksaan
Saksi, Penggeledahan dan Penyitaan Batch 1 Tahun 2025 PT. Valde
4. 20/11/2025 2
Internal Briefing – Introduction to Procedures for the Examination Indonesia
of Witnesses, Searches, and Seizures Batch 1 of 2025
Workshop Refreshment Agunan dan Asuransi terkait Kegiatan SMI Internal &
Pembiayaan Eksternal
5 01/12/2025 1
Refresher Workshop on Collateral and Insurance Related to Internal &
Financing Activities External SMI
Penerapan APU-PPT & PPPSPM di Lembaga Jasa Keuangan (LJK):
Meningkatkan Kepatuhan Regulasi, Pengendalian Risiko, dan
Integritas Sistem Keuangan
6 08/12/2025 AKSELIO 1
Implementation of AML, CTF, and CPFWMD in Financial Services
Institutions (FSI): Enhancing Regulatory Compliance, Risk Control,
and the Integrity of the Financial System
646
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Nama Pelatihan Tanggal Penyelenggara Tempat
No. Date Organizer Venue
Title of Training
Mini Workshop Mitigasi Bencana Gempa Megathrust SMI Eksternal
7 12/08/2025 4
Mini Workshop on Megathrust Earthquake Disaster Mitigation External SMI
Perlindungan Warisan Budaya dalam Pelaksanaan Proyek
Pembangunan Infrastruktur Berkelanjutan di Indonesia SMI Internal
8 15/10/2025 1
Protection of Cultural Heritage in the Implementation of Internal SMI
Sustainable Infrastructure Development Projects in Indonesia
Sertifikasi dan Resertifikasi BSMR Jenjang 5 Garda Multi
9 16/06/2025 1
BSMR Certification and Recertification Level 5 Talenta
10 Artificial Intelligence (AI) Technology for Secretary 18/12/2025 SekretarisPro 2
Pelaksanaan Tugas dan Kegiatan Implementation og Duties and Activities
Sekretaris Perusahaan Tahun 2025 by the Corporate Secretary in 2025
Sepanjang tahun 2025, Divisi Sekretariat Perusahaan In 2024, the Corporate Secretary Division carried out its
menjalankan fungsi utamanya melalui kegiatan sebagai duties and functions, among others, as follows:
berikut:
1. Menyelenggarakan RUPS Laporan Tahunan Tahun 1. Organize the GMS for the Company’s 2024 Annual
Buku 2024 dan RUPS RKAP Tahun Buku 2026 Report, GMS for the Company’s 2026 Work Plan and
Budget
2. Menyelenggarakan Rapat Direksi secara rutin setiap 2. Organize monthly Board of Directors meetings and
bulan, dan berkoordinasi dengan Sekretaris Dewan coordinated with the Secretary of the Board of
Komisaris melaksanakan Rapat Dewan Komisaris Commissioners to conduct Board of Commissioners
serta Rapat gabungan Dewan Komisaris dan Direksi, meetings and joint meetings of the Board of
dan rapat-rapat lainnya dengan pihak internal dan Commissioners and Directors, and other meetings
pihak eksternal. with internal and external parties.
3. Penyampaian laporan rutin berkala dan 3. Regularly report the routine updates and recent
perkembangan terkini secara berkala kepada developments to the Minister of Finance as the
Menteri Keuangan selaku Pemegang Saham, Dewan Shareholder, the Board of Commissioners, and to the
Komisaris, dan kepada Otoritas Jasa Keuangan (OJK) Financial Services Authority (OJK) and the Indonesia
serta Bursa Efek Indonesia (BEI) selaku regulator Stock Exchange (BEI) as regulators, in the Company’s
dalam kapasitas Perseroan sebagai emiten. capacity as an issuer.
4. Melaksanakan sosialisasi tentang good corporate 4. Conduct socialization on good corporate governance
governance dan kode etik, serta menyelenggarakan and code of ethics, as well as the 2025 GCG e-Quiz in
e-Quiz GCG Tahun 2025. coordination with the Compliance Division.
5. Melaksanakan self-assessment pelaksanaan 5. Performed a self-assessment of the implementation
ketentuan Pelindungan Konsumen dan Masyarakat of Consumer and Public Protection regulations for
Tahun 2025 PT SMI serta menyampaikan kepada OJK. PT SMI in 2025 and reported the results to Financial
Services Authority.
6. Mengoordinasikan penyusunan Buku Laporan 6. Coordinate the preparation of the Annual Report and
Tahunan (Annual Report) dan Laporan Keberlanjutan Sustainability Report for the 2024 Fiscal Year and
(Sustainability Report) untuk Tahun Buku 2024 dan presented them to Shareholders, Regulators, and PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
menyampaikannya kepada Pemegang Saham, Stakeholders, and published them on the Company's
Regulator, dan Pemangku Kepentingan dan website.
menayangkannya di situs web Perseroan.
7. Melakukan pembaruan Pakta Integritas Dewan 7. Update the Integrity Pact of the Board of
Komisaris, Dewan Pengawas Syariah dan Direksi. Commissioners, Sharia Supervisory Board, and Board
of Directors.
8. Melakukan pembaruan Daftar Khusus Perseroan. 8. Update the Company's Special List.
9. Mengoordinasikan pelaksanaan tata kelola 9. Coordinate the implementation of the 2024 GCG
perusahaan Assessment Tahun Buku 2024 yang Assessment conducted by Financial and Development
dilakukan oleh BPKP dan menyampaikan hasil GCG Supervisory Agency (BPKP) and reported the results to
Assessment kepada Pemegang Saham, Dewan Shareholders, the Board of Commissioners, Directors,
Komisaris, Direksi dan unit Kerja terkait agar dapat and related work units for follow-up and fulfillment
ditindaklanjuti dan dilakukan pemenuhan atas Area of the recommended Areas of Improvement (AoI).
of Improvement (AoI) yang disarankan. 10. Conduct a self-assessment of the company’s health
10. Melakukan penilaian mandiri tingkat kesehatan level for the aspect of Corporate Governance.
perusahaan untuk aspek Tata Kelola Perseroan.
11. Melakukan dukungan terhadap kegiatan Direksi 11. Support activities of the Board of Directors include but
termasuk namun tidak terbatas pada pengaturan are not limited to arranging the Board of Directors'
jadwal Direksi dan pendampingan kepada Direksi. schedules and assistance to the Board of Directors. 647
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05 Tata Kelola Perusahaan
Good Corporate Governance
12. Memfasilitasi kunjungan ke lokasi proyek-proyek 12. Facilitate visits to locations of projects financed and/
yang dibiayai dan/atau diberikan jasa konsultasi or provided consulting services by the Company.
oleh Perseroan.
13. Melakukan penatausahaan dan penyimpanan 13. Manage the administration and storage of the
dokumen perusahaan. Company’s documents.
14. Mengelola perpustakaan Perseroan. 14. Manage the Company's library.
15. Memfasilitasi kegiatan/pertemuan koordinasi dengan 15. Facilitate coordination activities/ meetings with
berbagai direktorat di lingkungan Kementerian various directorates within the Ministry of Finance,
Keuangan, Kementerian Koordinator bidang the Coordinating Ministry for Economic Affairs,
Perekonomian, Bappenas, Kementerian Pekerjaan Bappenas, the Ministry of Public Works, the Ministry
Umum, Kementerian Perhubungan, Dewan Perwakilan of Transportation, the House of Representatives (DPR),
Rakyat (DPR), serta instansi terkait lainnya and other related agencies.
16. Melakukan dan mengikuti pelatihan capacity building 16. Participate in and join capacity-building training to
untuk meningkatkan kapasitas dan kompetensi. enhance capacity and competence.
17. Melakukan pemutakhiran saluran Komunikasi 17. Update communication channels such as the
seperti situs web dan media sosial dalam rangka website and social media to improve the quality of
meningkatkan kualitas komunikasi Perseroan, the Company’s communication, especially regarding
terutama terkait dengan transparansi pada para transparency to Stakeholders.
stakeholders.
18. Secara rutin melakukan pemutakhiran Informasi 18. Regularly update the Company’s performance
kinerja Perseroan kepada media massa, baik melalui information to the mass media, both through press
siaran pers maupun fact sheet dan kunjungan kepada releases and fact sheets, and visits to the media.
media.
19. Melakukan Stakeholder Engagement dengan para 19. Conduct Stakeholder Engagement with Stakeholders
Pemangku Kepentingan dan media. and the media.
20. Melakukan Survei Kepuasan Stakeholders Tahun 2025. 20. Conducte the 2025 Stakeholder Satisfaction Survey.
21. Melakukan dukungan terhadap penandatangan 21. Support the signing of important agreements with
perjanjian-perjanjian penting dengan debitur. debtors.
22. Menyelenggarakan kegiatan sosialisasi seperti 22. Organize socialization activities such as seminars,
seminar, workshop, event khusus dan sponsorship. workshops, special events, and sponsorships.
23. Menyelenggarakan secara semesteran acara Town 23. Organize quarterly Town Hall Meeting between the
Hall Meeting antara Direksi Perseroan dan karyawan. Company's Board of Directors and employees. In this
Dalam acara tersebut dibahas highlight target kinerja event, the highlight of the Company's performance
atau KPI Perseroan tahun 2025, serta follow up akan targets or KPIs for 2025 is discussed, as well as follow-
masukan dan saran dari setiap Divisi dan arahan ups on input and suggestions from each Division and
dari Direksi. directions from the Board of Directors.
24. Melaksanakan kegiatan TJSL yang terdiri dari TJSL 24. Conduct CSR activities consisting of the CSR
Program Kemitraan dan Bina Lingkungan PKBL, Partnership Program and Environmental Development
khususnya untuk Program Bina Lingkungan (BL), dan (PKBL), especially for the Environmental Development
TJSL Non PKBL. (BL) Program, and CSR Non-PKBL.
25. Melakukan pengkinian atas Kebijakan Tata Kelola 25. Update the Corporate Governance Policy, the General
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Perusahaan, Kebijakan Umum Etika Usaha & Tata Policy on Business Ethics and Code of Conduct, and
Perilaku dan Board Manual. the Board Manual.
Hubungan Investor Investor Relations
PT SMI menempatkan transparansi dan keterbukaan PT SMI places transparency and information disclosure
informasi sebagai pilar utama dalam penerapan as key pillars in the implementation of good corporate
tata kelola perusahaan yang baik. Untuk menjaga governance. To maintain such accountability,
akuntabilitas tersebut, Perseroan secara proaktif menjalin the Company proactively establishes structured
komunikasi yang terstruktur dengan investor dan communication with investors and stakeholders through
pemangku kepentingan melalui berbagai forum resmi. various official forums. In each meeting, the Company
Dalam setiap pertemuan, Perseroan menyampaikan provides relevant performance updates and responds
pembaruan kinerja yang relevan serta memberikan to information requests submitted.
respons atas kebutuhan informasi yang diajukan.
Sepanjang tahun 2025, Perseroan menjalankan Throughout 2025, the Company carried out investor
pembinaan hubungan dengan investor melalui sejumlah relations activities through several of the following
kegiatan sebagai berikut: activities:
648
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Tanggal Nama Kegiatan Tempat Penyelenggara
Date Acitivity Name Venue Organizer
7 Januari 2025
Courtesy Meeting PT Bank BTPN Syariah Jakarta
January 7, 2025
15 Januari 2025
Courtesy Meeting PT Bank BTN Syariah Jakarta
January 15, 2025
20 - 23 Januari 2025 Investor Update SLL 2023 dan Global Beberapa Investor
Singapura
January 20 – 23, 2025 Bond Several Investors
6 Februari 2025
Market Update Bank Taipei Fubon Jakarta
February 6, 2025
11 Februari 2025 SMI Roundtable Discussion and Market Beberapa Investment Bank
February 11, 2025 Update Several Investment Banks
11 Februari 2025
Courtesy Meeting PT Bank UOB Indonesia Jakarta
February 11, 2025
13 Februari 2025
Courtesy Meeting PT Bank SMBC Indonesia Tbk Jakarta
February 13, 2025
17 Februari 2025 Appraisal Mission Green Bond Jakarta
Bank KFW
February 17, 2025 Development Facility
18 Februari 2025
Economic Outlook PT Bank SMBC Indonesia Tbk Jakarta
February 18, 2025
18 Februari 2025
Courtesy Meeting PT Bank Mizuho Indonesia Jakarta
February 18, 2025
27 Februari 2025
Economic Outlook Bank SMBC Singapura Online
February 25, 2025
9 April 2025
Courtesy Meeting Bank UOB Singapura Jakarta
April 9, 2025
23 April 2025 PT Bank Danamon Indonesia
Courtesy Meeting Jakarta
April 23, 2025 Tbk
23 April 2025
Courtesy Meeting PT Bank Permata Tbk Jakarta
April 23, 2025
14 – 22 Mei 2025 Beberapa Investor Taipei dan Tokyo
Investor Update
May 14 – 22, 2025 Several Investors Taipei and Tokyo
16 Juni 2025
Market Update Bank SMBC Indonesia Jakarta
June 16, 2025
19 Juni 2025
Courtesy Meeting PT Bank HSBC Indonesia Jakarta
June 19, 2025
Investor Gathering PUB Obligasi
Keberlanjutan Berkelanjutan I
(Sustainability Bonds) Tahap I PT SMI
23 Juni 2025 Tahun 2025 Beberapa Investor
Jakarta
June 23, 2025 Investor Gathering for the Public Several Investors
Offering of Shelf Registration Bonds PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
(Sustainability Bonds) I Tranche I of PT
SMI in 2025
25 Juni 2025
Courtesy Meeting Bluebay Asset Management Jakarta
June 25, 2025
5 – 11 Agustus 2025 Beberapa Sekuritas
Courtesy Meeting Jakarta
August 5 – 11, 2025 Several Securities
12 Agustus 2025
Market Update Bank BNP Paribas Jakarta
August 12, 2025
21 Agustus – 4 September 2025 Non Deal Roadshow Zero Coupon Beberapa Investor
Jakarta
August 21 – September 4, 2025 Bond Several Investors
Narasumber dalam ASEAN Working
Committee on Capital Market Financial Institution dan
8 September 2025 Developments Meeting (WC-CMD) Regulator di ASEAN
Online
September 8, 2025 Speaker in the ASEAN Working Financial Institutions and
Committee on Capital Market Regulators in ASEAN
Developments Meeting (WC-CMD)
30 September 2025 Agence Française de
AFD Mission to Indonesia Jakarta
September 30, 2025 Développement (AFD)
649
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tanggal Nama Kegiatan Tempat Penyelenggara
Date Acitivity Name Venue Organizer
USD Syndicated
7 – 15 Oktober 2025 Singapura, Taipei dan Tokyo
Deal Roadshow Sustainability – linked loan
October 7 – 15, 2025 Singapore, Taipei, and Tokyo
2025
17 – 21 Oktober 2025 Beberapa Investor London dan Zurich
Non Deal Roadshow Global Bond
October 17 – 21, 2025 Several Investors London and Zurich
5 November 2025
Courtesy Meeting PT Bank ICBC Indonesia Jakarta
November 5, 2025
5 November 2025
Courtesy Meeting Mandiri Securities Singapore Jakarta
November 5, 2025
10 November 2025 Asian Infrastructure
Courtesy Meeting Jakarta
November 10, 2025 Investment Bank (AIIB)
11 November 2025
Courtesy Meeting Standard Chartered Jakarta
November 11, 2025
Narasumber dalam FGD Bank
28 November 2025
Indonesia Bank Indonesia Jakarta
November 28, 2025
Speaker in the FGD Bank Indonesia
2 Desember 2025 China International Capital
Courtesy Meeting Jakarta
December 2, 2025 Corporation (CICC)
8 Desember 2025
Courtesy Meeting PT Bank QNB Indonesia Tbk Jakarta
December 8, 2025
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
650
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651 PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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05 Tata Kelola Perusahaan
Good Corporate Governance
AUDIT INTERNAL
INTERNAL AUDIT
Sejak pembentukannya pada 2009, Audit Internal telah Since its establishment in 2009, Internal Audit has been
menjadi pilar penting dalam tata kelola PT SMI, khususnya an important pillar in PT SMI’s governance, particularly
sebagai perusahaan yang menjalankan mandat as a company carrying out a development financing
pembiayaan pembangunan. Perseroan menempatkan mandate. The Company places this function as a key
fungsi ini sebagai mekanisme kunci untuk menjaga mechanism to ensure the consistency of business
konsistensi proses bisnis terhadap standar operasional, processes with operational standards, legal provisions,
ketentuan hukum, dan prinsip akuntabilitas yang and accountability principles required to safeguard the
diperlukan guna melindungi kepentingan perusahaan. Company’s interests.
Pelaksanaan fungsi Audit Internal dijalankan oleh Divisi The implementation of the Internal Audit function is carried
Audit Internal yang bertugas memberikan assurance out by the Internal Audit Division, which is responsible for
melalui pemeriksaan, pengujian, dan evaluasi yang providing assurance through independent and objective
independen dan objektif. Divisi ini berperan meningkatkan examinations, testing, and evaluations. This division plays
efektivitas manajemen risiko, pengendalian internal, a role in enhancing the effectiveness of risk management,
serta proses tata kelola, sehingga kontribusinya bersifat internal control, and governance processes, thereby
berkelanjutan dan mendukung pengurus dalam contributing sustainably and supporting the management
memastikan operasional Perseroan berjalan secara in ensuring that the Company’s operations run effectively
efektif dan sesuai praktik terbaik. and in accordance with best practices.
PENGANGKATAN DAN APPOINTMENT AND DISMISSAL
PEMBERHENTIAN AUDIT INTERNAL OF INTERNAL AUDIT
Audit Internal Perseroan dibentuk berdasarkan ketentuan The Company’s Internal Audit was established based
Peraturan Otoritas Jasa Keuangan No. 56/POJK.04/2015 on the provisions of Regulation of the Financial
mengenai Pembentukan dan Pedoman Penyusunan Services Authority No. 56/POJK.04/2015 concerning the
Piagam Unit Audit Internal, serta Peraturan Menteri Establishment and Guidelines for the Preparation of the
Keuangan No. 88/PMK.06/2015 tentang penerapan tata Internal Audit Unit Charter, as well as Regulation of the
kelola perusahaan yang baik pada BUMN di bawah Minister of Finance No. 88/PMK.06/2015 concerning the
pembinaan dan pengawasan Menteri Keuangan. Implementation of Good Corporate Governance in State-
Owned Enterprises under the guidance and supervision
of the Minister of Finance.
Divisi Audit Internal (DAI) dipimpin oleh Kepala Audit The Internal Audit Division (DAI) is led by the Head
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Internal yang diangkat dan diberhentikan oleh Direktur of Internal Audit, who is appointed and dismissed
Utama melalui mekanisme internal Perseroan dengan by the President Director through the Company’s
persetujuan Dewan Komisaris. Setiap pengangkatan, internal mechanism with the approval of the Board of
penggantian, atau pemberhentian Kepala Audit Internal Commissioners. Every appointment, replacement, or
wajib diberitahukan kepada Otoritas Jasa Keuangan. dismissal of the Head of Internal Audit must be notified
to the Financial Services Authority.
Piagam Audit Internal Internal Audit Charter
Divisi Audit Internal menjalankan tugasnya berdasarkan The Internal Audit Division carries out its duties based
Piagam Audit Internal yang berfungsi sebagai pedoman on the Internal Audit Charter, which serves as the work
kerja mencakup visi dan misi, kebijakan umum guidelines covering the vision and mission, general
pengendalian internal, kewenangan dan tanggung jawab, policies on internal control, authority and responsibilities,
kode etik, kualifikasi auditor internal, serta mekanisme code of ethics, qualifications of internal auditors, as well
pelaporan dan tindak lanjut. Piagam tersebut dievaluasi as reporting and follow-up mechanisms. The Charter is
dan diperbarui secara berkala guna memastikan periodically evaluated and updated to ensure alignment
keselarasan dengan dinamika bisnis dan kebutuhan with business dynamics and the Company’s needs.
Perseroan. Piagam Audit Internal yang berlaku saat ini The currently applicable Internal Audit Charter was
ditetapkan melalui Peraturan Bersama Dewan Komisaris established through the Joint Regulation of the Board of
dan Direksi No. PER-01/SMI/DK/0325 dan No. PD-008/ Commissioners and the Board of Directors No. PER-01/
652 SMI/0325. SMI/DK/0325 and No. PD-008/SMI/0325.
Page 383
Tugas dan Tanggung Jawab Audit Internal Duties and Responsibilities of Internal Audit
Berlandaskan Piagam Audit Internal, Divisi Audit Internal Based on the Internal Audit Charter, the Internal Audit
menjalankan berbagai tugas dan tanggung jawab yang Division carries out various duties and responsibilities,
mencakup, antara lain: which include, among others:
1. Membantu tugas Direktur Utama dan Dewan Komisaris 1. Assist the President Director and the Board of
dalam melakukan pengawasan baik perencanaan, Commissioners in performing supervisory functions,
pelaksanaan, maupun pemantauan hasil audit. including the planning, implementation, and
monitoring of audit results.
2. Menyusun dan mereviu Piagam, kebijakan, dan 2. Prepare and review the Internal Audit Charter, policies,
prosedur Audit Internal sebagai panduan pelaksanaan and procedures as guidelines for the implementation
DAI. of the Internal Audit Division.
3. Menyusun dan melaksanakan rencana audit dan 3. Prepare and implement audit and advisory plans as
advisori yang dituangkan dalam RKPT dan Rencana outlined in the Annual Audit Work Plan (RKPT) and
Pengembangan/strategis, termasuk meninjau dan the development/strategic plan, including reviewing
mengubah rencana tersebut, dengan persetujuan and amending such plans, with the approval of the
Direktur Utama dan Dewan Komisaris President Director and the Board of Commissioners.
4. Menyepakati sifat dan lingkup kegiatan Advisori 4. Agree on the nature and scope of advisory activities
dengan pihak yang meminta layanan tersebut, with the parties requesting such services, where the
dimana fungsi Audit Internal tidak mengambil alih Internal Audit function does not assume management
tanggung jawab manajemen. responsibilities.
5. Melaksanakan audit, pemeriksaan khusus dan 5. Conduct audits, special examinations, and activities
kegiatan di luar rencana kerja (termasuk audit outside the work plan (including investigative
investigasi) berdasarkan instruksi dari Dewan audits) based on instructions from the Board of
Komisaris melalui Komite Audit ataupun Direktur Commissioners through the Audit Committee or the
Utama, apabila dipandang perlu. President Director, if deemed necessary.
6. Mengomunikasikan kepada Dewan Komisaris dan 6. Communicate to the Board of Commissioners and
Direktur Utama terkait jika terdapat keterbatasan the President Director any limitations in resources and
sumber daya dan dampaknya terhadap RKPT. their impact on the Annual Audit Work Plan (RKPT).
7. Menyelenggarakan tertib administrasi pelaksanaan 7. Maintain proper administrative management in
fungsi dan tugas DAI. carrying out the functions and duties of the Internal
Audit Division.
8. Menguji dan mengevaluasi pelaksanaan 8. Test and evaluate the implementation of
pengendalian internal dan sistem manajemen risiko internal control and risk management systems
sesuai dengan kebijakan Perseroan dan regulasi yang in accordance with the Company’s policies and
berlaku. prevailing regulations.
9. Melakukan pemeriksaan dan penilaian atas efisiensi 9. Conduct examinations and assessments of efficiency
dan efektivitas di bidang keuangan, akuntansi, and effectiveness in the areas of finance, accounting,
operasional, sumber daya manusia, pemasaran, operations, human capital, marketing, information
teknologi informasi dan kegiatan lainnya. technology, and other activities.
10. Mengidentifikasi segala kemungkinan untuk 10. Identify opportunities to improve and enhance the
memperbaiki dan meningkatkan efisiensi efficiency of the use of resources and funds. PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
penggunaan sumber daya dan dana.
11. Melakukan audit atas Perusahaan/Organisasi 11. Conduct audits of companies/organizations affiliated
Terafiliasi dengan Perseroan melalui persetujuan dan with the Company through approval and mechanisms
mekanisme yang berlaku di Perseroan. applicable within the Company.
12. Menyusun laporan hasil audit dan menyampaikan 12. Prepare audit reports and submit such reports to the
laporan tersebut kepada Dewan Komisaris dan Board of Commissioners and the President Director.
Direktur Utama.
13. Memberikan saran perbaikan dan informasi yang 13. Provide recommendations for improvement and
objektif tentang kegiatan yang diperiksa pada semua objective information regarding the activities
tingkat manajemen. examined at all levels of management.
14. Memastikan tren, best practice dan isu-isu yang 14. Ensure that trends, best practices, and issues
dapat secara signifikan mempengaruhi Perseroan that may significantly affect the Company are
telah dipertimbangkan dalam pelaksanaan audit considered in the implementation of audits and
dan mengomunikasikannya kepada Dewan Komisaris communicated to the Board of Commissioners and
dan Direktur Utama. the President Director.
15. Memantau, menganalisis dan melaporkan 15. Monitor, analyze, and report on the implementation of
pelaksanaan tindak lanjut perbaikan yang telah recommended corrective actions, including reporting
disarankan, termasuk menyampaikan setiap tindak any corrective actions that are not implemented
lanjut perbaikan yang tidak dilaksanakan dengan properly and effectively. 653
baik dan efektif.
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05 Tata Kelola Perusahaan
Good Corporate Governance
16. Menyusun Program Asurans dan Peningkatan Kualitas. 16. Prepare the Quality Assurance and Improvement
17. Memastikan prinsip Integritas, Objektivitas, Program.
Kerahasiaan, dan Kompetensi diterapkan dan 17. Ensure that the principles of Integrity, Objectivity,
dijunjung tinggi oleh semua Auditor Internal. Confidentiality, and Competence are applied and
18. Memastikan bahwa DAI secara kolektif memiliki upheld by all Internal Auditors.
atau memperoleh pengetahuan, keterampilan, dan 18. Ensure that the Internal Audit Division collectively
kompetensi lain yang diperlukan untuk menjalankan possesses or obtains the knowledge, skills, and other
tugasnya. competencies necessary to perform its duties.
19. Memastikan bahwa seluruh poin dalam IKU telah 19. Ensure that all points in the Key Performance Indicators
terpenuhi. (KPI) are fulfilled.
20. Melakukan tanggung jawab lain berdasarkan 20. Carry out other responsibilities based on assignments
penugasan dari Dewan Komisaris dan Direktur Utama from the Board of Commissioners and the President
sesuai ketentuan yang berlaku di Perseroan termasuk Director in accordance with the provisions applicable
melakukan pendampingan dan koordinasi dengan within the Company, including providing assistance
pihak lain, baik internal maupun eksternal dengan and coordination with other parties, both internal and
tetap menjaga Independensi dan objektifitas DAI. external, while maintaining the independence and
21. Bekerja sama dengan Komite Audit. objectivity of the Internal Audit Division.
22. Menyampaikan laporan kepada Otoritas Jasa 21. Collaborate with the Audit Committee.
Keuangan tentang pelaksanaan satuan kerja audit 22. Submit reports to the Financial Services Authority
internal, sebagai berikut: regarding the implementation of the internal audit
a. Laporan pelaksanaan dan pokok-pokok hasil audit unit, as follows:
internal secara semesteran, yang disampaikan a. report on the implementation and main results of
paling lambat: internal audits on a semi-annual basis, submitted
i) Tanggal 31 Juli tahun berjalan, untuk periode no later than:
semester yang berakhir pada tanggal 30 Juni; i) July 31 of the current year, for the semester
dan period ending on June 30; and
ii) Tanggal 31 Januari tahun berikutnya, untuk ii) January 31 of the following year, for the
periode semester yang berakhir pada tanggal semester period ending on December 31; and
31 Desember; dan
b. Laporan khusus mengenai setiap temuan audit b. Special report regarding any internal audit findings
internal yang diperkirakan dapat membahayakan that are estimated to endanger the Company’s
kelangsungan usaha Perseroan, paling lambat 3 business continuity, submitted no later than
(tiga) hari kerja setelah ditemukan. 3 (three) working days after the findings are
identified.
Kedudukan dan Struktur Audit Internal Position and Structure of the Internal Audit
Kedudukan Divisi Audit Internal berada di bawah Direktur The Internal Audit Division is positioned under the President
Utama dan melaksanakan fungsi pertanggungjawaban Director and carries out accountability and reporting
serta pelaporan langsung kepada Direktur Utama. functions directly to the President Director. Referring to
Mengacu pada Peraturan Direksi No. PD-035/SMI/0922 Regulation of the Board of Directors No. PD-035/SMI/0922
tentang Tugas Pokok dan Fungsi Divisi Audit Internal, concerning the Main Duties and Functions of the Internal
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
unit ini dipimpin oleh Kepala Audit Internal. Kedudukan Audit Division, this unit is led by the Head of Internal Audit.
dan struktur Divisi Audit Internal PT SMI disajikan sebagai The position and organizational structure of the Internal
berikut: Audit Division of PT SMI are presented as follows:
654
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Direktur Utama
President Director
Kepala Divisi Audit Internal
Internal Audit Division Head
QA & Internal Management
Team Leader Support Team Leader Core
Pools of Auditors
PROFIL KEPALA AUDIT INTERNAL PROFILE OF THE HEAD OF
INTERNAL AUDIT
Di tahun 2025, Kepala Audit Internal Perseroan dijabat In 2025, the position of Head of Internal Audit of the
oleh Setyo Wibowo berdasarkan Surat Keputusan Direksi Company was held by Setyo Wibowo based on Decree
No. SK-270/SMI/DKD/DHC/1017 tanggal 19 Oktober 2017 of the Board of Directors No. SK-270/SMI/DKD/DHC/1017
dan Surat Persetujuan Dewan Komisaris Perseroan No. dated October 19, 2017, and the Approval Letter of the
S-22/SMI/DK/0617 tanggal 8 Juni 2017. Profil Kepala Audit Board of Commissioners No. S-22/SMI/DK/0617 dated
Internal disajikan sebagai berikut: June 8, 2017. The profile of the Head of Internal Audit is
presented as follows:
Dr. Setyo Wibowo,
Ak. MM, CA, CIA, CISA, CRMA, GRCP, GRCA, QIA, CFE
Kepala Divisi Audit Internal
Head of the Internal Audit Division
57 tahun | 57 years old
Indonesia | Indonesian
Bekasi, Jawa Barat, Indonesia |Bekasi, West Java, Indonesia
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Surat Keputusan Direksi No. SK-270/SMI/DKD/DHC/1017 tanggal 19 Oktober 2017 dan
Surat Persetujuan Dewan Komisaris Perseroan No. S-22/SMI/DK/0617 tanggal 8 Juni 2017.
Pengangkatan tersebut telah diberitahukan kepada Otoritas Jasa Keuangan melalui Surat
Dasar Hukum Pengangkatan No. S-1104/SMI/DU/1117 tanggal 8 November 2017.
Legal Basis of Appointment Decree of Board of Directors No. SK-270/SMI/DKD/DHC/1017 dated October 19, 2017, with
Approval Letter of Board of Commissioners No. S-22/SMI/DK/0617 dated June 8, 2017. The
appointment has been informed to Financial Service Authority through Letter No. S-1104/SMI/
DU/1117 dated November 8, 2017
• Doktor Manajemen Bisnis, Sekolah Bisnis Institut Pertanian Bogor (2022)
• Magister Manajemen, Sekolah Bisnis Institut Pertanian Bogor (2006)
• Diploma IV Sekolah Tinggi Akuntansi Negara, Jakarta (1996)
• Diploma III Sekolah Tinggi Akuntansi Negara, Jakarta (1990)
Riwayat Pendidikan
• Doctor of Management of Business, School of Business, Bogor Agricultural University
Educational Background (2022)
• Master of Management, School of Business, Bogor Agricultural University (2006)
• Diploma IV Indonesian State College of Accountancy, Jakarta (1996)
• Diploma III Indonesian State College of Accountancy, Jakarta (1990)
655
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05 Tata Kelola Perusahaan
Good Corporate Governance
• Certified Information System Auditor (CISA)
• Chartered Accountant (CA)
• Certification in Risk Management Assurance (CRMA)
• Certified Internal Auditor (CIA)
• Certified Governance Risk Compliance Professional (GRCP)
• Certified Governance Risk Compliance Auditor (GRCA)
• Certified Fraud Examiner (CFE)
• Qualified Internal Auditor (QIA)
• Sertifikasi Manajemen Risiko Level 1 (Badan Sertifikasi Manajemen Risiko/BSMR)
• Sertifikasi Manajemen Risiko Level 2 (Badan Sertifikasi Manajemen Risiko/BSMR)
• Sertifikasi Manajemen Risiko Level 3 (Badan Sertifikasi Manajemen Risiko/BSMR)
Sertifikasi • Sertifikasi Manajemen Risiko Level 4 (Badan Sertifikasi Manajemen Risiko/BSMR)
Certification • Certified Information System Auditor (CISA)
• Chartered Accountant (CA)
• Certification in Risk Management Assurance (CRMA)
• Certified Internal Auditor (CIA)
• Certified Governance Risk Compliance Professional (GRCP)
• Certified Governance Risk Compliance Auditor (GRCA)
• Certified Fraud Examiner (CFE)
• Qualified Internal Auditor (QIA)
• Risk Management Certification Level 1 (Risk Management Certification Board/BSMR)
• Risk Management Certification Level 2 (Risk Management Certification Board/BSMR)
• Risk Management Certification Level 3 (Risk Management Certification Board/BSMR)
• Risk Management Certification Level 4 (Risk Management Certification Board (BSMR)
• Kepala Divisi Audit Internal PT Sarana Multi Infrastruktur (Persero) (2017 – sekarang)
• Internal Audit Group Head PT Perusahaan Pengelola Aset (Persero) (2004 – 2017)
• General Manager Keuangan dan Dukungan Kerja PT Survai Udara Penas (Persero) (2013
– 2015)
• Team Leader for Quality Assurance and Internal Audit Management Badan Penyertaan
Perbankan Nasional (BPPN) (1998 – 2004)
Riwayat Pekerjaan • Ketua Tim Audit Badan Pengawasan Keuangan dan Pembangunan (1990 – 1998)
Career History • Head of Internal Audit Division, PT Sarana Multi Infrastruktur (Persero) (2017-present)
• Internal Audit Group Head at PT Perusahaan Pengelola Aset (Persero) (2004 – 2017)
• General Manager of Finance and Work Support at PT Survai Udara Penas (Persero) (2013
– 2015)
• Team Leader for Quality Assurance and Internal Audit Management at the National
Banking Participation Agency (BPPN) (1998 – 2004)
• Audit Team Leader at the Financial and Development Supervisory Agency (1990 – 1998)
Tidak mempunyai rangkap jabatan baik sebagai anggota Dewan Komisaris, anggota
Direksi, dan/atau anggota komite serta jabatan lainnya di Perseroan.
Rangkap Jabatan
Has no concurrent positions, neither as a member of the Board of Commissioners nor a
Concurrent Position member of the Board of Directors, and/or other committee members and other positions in
the Company
Tidak memiliki hubungan afiliasi baik dengan anggota Direksi, anggota Dewan Komisaris
Hubungan Afiliasi lainnya maupun dengan pemegang saham pengendali dan utama.
Affiliation Has no affiliation with members of the Board of Directors, other members of the Board of
Commissioners or with the controlling and major shareholders.
Pengembangan Kompetensi Kepala Audit Competency Development of the Head of
Internal di 2025 Internal Audit in 2025
Dalam rangka memperkuat efektivitas pengawasan To strengthen the effectiveness of supervision and internal
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
dan pengendalian internal, Perseroan memastikan control, the Company ensures that the Head of Internal
Kepala Audit Internal senantiasa memiliki kompetensi Audit continuously possesses adequate and up-to-date
yang memadai dan terkini. Sepanjang 2025, Perseroan competencies. Throughout 2025, the Company supported
mendukung peningkatan kemampuan melalui capability enhancement through various development
berbagai program pengembangan yang berfokus pada programs focused on deepening expertise, updating
pendalaman keahlian, pemutakhiran wawasan, serta insights, and strengthening the strategic role within the
penguatan peran strategis dalam Divisi Audit Internal. Internal Audit Division. The competency development
Program pengembangan kompetensi yang diikuti pada programs attended in 2025 are as follows:
tahun 2025 adalah sebagai berikut:
Nama Pelatihan Tanggal Tempat Penyelenggara
No. Date Venue Organizer
Title of Training
Lembaga Profesi Auditor Internal
Indonesia
1 ACIIA Conference 2025 08/09/2025 Malaysia
The Institute of Internal Auditors
Indonesia
Assessing and Improving
2 08/09/2025 Online LINKEDIN LEARNING
Strategic Plans
656
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Nama Pelatihan Tanggal Tempat Penyelenggara
No. Date Venue Organizer
Title of Training
Banking Knowledge Series: Loan SMI Eksternal
3 28/05/2025 Hybrid
Syndication External SMI
Banking Knowledge Series: Kantor SMI SMI Eksternal
4 16/04/2025
Special Asset Management SMI’s Office External SMI
SMI Eksternal
Banking Knowledge Series:
5 19/03/2025 Hybrid SMI Eksternal
Treasury Product Knowledge
External SMI
Banking Knowledge Sharing: Kantor SMI
6 19/02/2025 R. Adhi Susatyo
Trade Finance SMI’s Office
Benchmarking Global Internal
Audit Practices: Study Visit FKSPI Komisariat Asuransi Negara dan
7 07/08/2025 Singapore
to Kroll Singapore and UOB Jasa Keuangan Plus
Singapore
Certification in Audit Committee Ikatan Komite Audit Indonesia
8 06/05/2025 Jakarta
Practices (CACP) Indonesian Institute of Audit Committee
Critical Thinking and Problem
9 14/08/2025 Online LINKEDIN LEARNING
Solving
Excel 365 Solutions for Financial
10 22/09/2025 Bandung Qolbu Center Management
Business
11 Excel for Business Analysts 20/09/2025 Online LINKEDIN LEARNING
Financial Analysis Evaluation, SMI Internal
12 22/01/2025 Hybrid
Budgeting and Decision Making Internal SMI
Forging Resiliency Through
13 27/11/2025 Bali PT. Tiga Fokus Utama
Togetherness in Diversity (DU)
14 General Business English Batch 2 08/09/2025 Jakarta English Today
Singapura
15 General ESG Training 22/09/2025 MUFG Bank
Singapore
Lembaga Profesi Auditor Internal
Indonesia
16 IIA International Conference 2025 14/07/2025 Toronto, Canada
The Institute of Internal Auditors
Indonesia
Information Security
17 28/07/2025 Jakarta Robere and Associates (Indonesia)
Management System
Knowledge Sharing Advanced SMI Internal
18 18/02/2025 Jakarta
International Corporate Finance Internal SMI
Knowledge Sharing ESG Series: SMI Internal
19 13/08/2025 Jakarta
ESG Fundamentals Internal SMI
Knowledge Sharing Hasil Kajian
DRE “Perkembangan Kondisi
Ekonomi Indonesia dan Peluang PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Pembangunan Infrastruktur
Knowledge Sharing on the
SMI Internal
20 Results of the Economic 16/09/2025 Jakarta
Internal SMI
Research Division’s Study:
Developments in Indonesia’s
Economic Conditions and
Opportunities for Infrastructure
Development
Knowledge Sharing: Growing
SMI Internal
21 Infrastructure Course (GIC) on 29/07/2025 Jakarta
Internal SMI
Sustainable Transport
Knowledge Sharing: Pendalaman
Aspek Teknis dan Strategis
Pengadaan Kapal MR Tanker &
Handysize LPG Carrier
SMI Eksternal
22 Knowledge Sharing: In-Depth 04/09/2025 Online
External SMI
Review of the Technical and
Strategic Aspects of MR Tanker
and Handysize LPG Carrier
Procurement
SMI Internal
23 Leadership Decision Making 17/11/2025 Jakarta
Internal SMI
657
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05 Tata Kelola Perusahaan
Good Corporate Governance
Nama Pelatihan Tanggal Tempat Penyelenggara
No. Date Venue Organizer
Title of Training
Leadership Development
24 Program for Team Leaders Batch 31/07/2025 Yogyakarta ALC Leadership Management
1&2
Leading Successful Programs:
SMI Internal
25 Using Evidence to Assess 03/10/2025 Jakarta
Internal SMI
Effectiveness
Leading with Emotional
26 18/07/2025 Online LINKEDIN LEARNING
Intelligence
Masa Persiapan Pensiun Stage 4
Tahun 2025
27 29/07/2025 Banyuwangi POTENSI (PT. Eventama Solusi Kreatif)
Retirement Preparation Period
Stage 4 of 2025
Masa Persiapan Purnabakti
(MPP) Stage 3 Batch 1 & 2
28 21/08/2025 Bogor POTENSI (PT. Eventama Solusi Kreatif)
Pre-Retirement Preparation
Period (MPP) Stage 3 Batch 1 & 2
Mini Workshop Mitigasi Bencana
Gempa Megathrust SMI Eksternal
29 12/08/2025 Jakarta
Mini Workshop on Megathrust External SMI
Earthquake Disaster Mitigation
National Anti-Fraud Conference
30 25/06/2025 Yogyakarta ACFE Indonesia
2025
PENERAPAN APU-PPT & PPPSPM
DI LEMBAGA JASA KEUANGAN
(LJK): Meningkatkan Kepatuhan
Regulasi, Pengendalian Risiko,
dan Integritas Sistem Keuangan
31 Implementation of AML-CFT & 08/12/2025 Bandung AKSELIO
CPFWMD in Financial Services
Institutions (LJK): Enhancing
Regulatory Compliance, Risk
Control, and Financial System
Integrity
Pelatihan Emergency Response
Team (ERT) PT Safex (BNPB, PMI Yogyakarta, Dinas
32 04/12/2025 Yogyakarta
Emergency Response Team Pemadam Kebakaran Yogyakarta)
(ERT) Training
Pelatihan Petugas P3K
33 12/02/2025 Bogor Safex Solusi Indonesia
First Aid Officer Training
Pelatihan Proses Pemilahan,
Pemberkasan, dan Pemusnahan
Arsip PT SMI
34 19/02/2025 Kantor SMI Indo Arsip
Training on the Sorting, Filing,
and Destruction Process of PT
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
SMI Records
Pemanfaatan Artificial
Intelligence dalam Industri
Keuangan dan Infrastruktur Kementerian Keuangan
35 09/04/2025 Kantor SMI
Utilization of Artificial Ministry of Finance
Intelligence in the Financial and
Infrastructure Industry
Pembekalan Upaya Pencegahan
Kredit/Pembiayaan Bermasalah
Melalui Analisa Kredit &
Penerapan Strategi dari Aspek
Non-Financial (Secara End to
End)
36 11/12/2025 Semarang Hikmat Nazar Soebandi & Partners
Briefing on Preventive Measures
for Non-Performing Loans/
Financing through Credit
Analysis and the Implementation
of Strategies from Non-Financial
Aspects (End-to-End)
Praktik Penerapan IFRS S1 dan S2
di Indonesia
37 12/06/2025 Bogor Qolbu Center Management
Practices in the Implementation
of IFRS S1 and S2 in Indonesia
658
Page 389
Nama Pelatihan Tanggal Tempat Penyelenggara
No. Date Venue Organizer
Title of Training
38 Problem-Solving Techniques 19/08/2025 Online LINKEDIN LEARNING
Sertifikasi dan Resertifikasi BSMR
Jenjang 4
39 28/04/2025 Jakarta Garda Multi Talenta
BSMR Certification and
Recertification Level 4
Strategi Eksekusi di antara
Manajemen Risiko dan Fraud
dalam Pengadaan Tanah
40 21/07/2025 Bogor IBS Consulting
Execution Strategies between
Risk Management and Fraud in
Land Acquisition
Strategi Pencegahan dan
Penanggulangan Fraud
41 20/02/2025 Bogor Qolbu Center Management
Fraud Prevention and Mitigation
Strategies
Tourism and Airport Operations
in Indonesia: Current Condition SMI Eksternal
42 02/12/2025 Online
and its Prospect (Special Case in External SMI
Heritage Tourism)
URCM Forum - Pemanfaatan AI
untuk Penguatan Tata Kelola,
Pengendalian Internal, dan
Ketahanan Organisasi
43 19/05/2025 Bogor PwC, LPSK, PT Semen Indonesia
URCM Forum – Utilization of AI to
Strengthen Governance, Internal
Control, and Organizational
Resilience
44 Unit Risk & Compliance Manager 13/01/2025 Bogor SMI Eksternal
Workshop Compliance
Assurance: Penguatan
Pengendalian Internal dan
45 Kepatuhan 20/11/2025 Bandung Deloitte
Compliance Assurance
Workshop: Strengthening
Internal Control and Compliance
Workshop Pencegahan
dan Penanganan Bencana
SMI Eksternal
46 Kebakaran 13/10/2025 Jakarta
External SMI
Workshop on Fire Disaster
Prevention and Response
Workshop Penerapan SMK3 di
PT. SMI
Workshop on the SMI Eksternal
47 02/05/2025 Hybrid
Implementation of the External SMI
Occupational Health and Safety
Management System at PT SMI PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Workshop Penyelarasan
Prosedur dan Dokumen Internal
Control over Financial Reporting
(ICoFR)
48 Workshop on the Alignment of 13/11/2025 Bandung Deloitte
Procedures and Documents for
Internal Control over Financial
Reporting (ICoFR)
Risk Maturity Index Workshop
Workshop Risk Maturity Index
49 06/10/2025 Bogor PwC
(RMI)
Workshop dan Sosialisasi
Petunjuk Teknis Tata Kelola Data
50 Workshop and Socialization of 23/06/2025 Jakarta SMI Eksternal
Technical Guidelines on Data
Governance
659
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05 Tata Kelola Perusahaan
Good Corporate Governance
KUALIFIKASI/SERTIFIKASI INTERNAL AUDITOR QUALIFICATION/
PROFESI AUDIT INTERNAL CERTIFICATIONS
Perseroan secara konsisten memperkuat kapabilitas The Company consistently strengthens the capability
Divisi Audit Internal dengan memastikan seluruh personel of the Internal Audit Division by ensuring that all
memiliki kualifikasi dan kompetensi profesional yang personnel possess relevant professional qualifications
relevan. Setiap auditor telah dibekali keahlian audit and competencies. Each auditor is equipped with
yang memadai serta memegang sertifikasi nasional adequate auditing expertise and holds national and
dan internasional yang mendukung efektivitas fungsi international certifications that support the effectiveness
pengawasan. Adapun daftar kualifikasi dan sertifikasi of the supervisory function. The list of qualifications and
yang dimiliki personel Audit Internal adalah sebagai certifications held by Internal Audit personnel is as follows:
berikut:
Kualifikasi/Sertifikasi Jumlah
Qualification/Certification Number of Personnel
Internasional
International
2 orang
Certified Internal Auditor (CIA)
2 personnel
1 orang
Certified Information System Auditor (CISA)
1 personnel
2 orang
Certification in Risk Management Assurance (CRMA)
2 personnel
3 orang
Chartered Accountant (CA)
3 personnel
1 orang
Governance, Risk & Compliance Auditor (GRCA)
1 personnel
1 orang
Certified Public Accountant (CPA)
1 personnel
1 orang
Governance, Risk & Compliance Professional (GRCP)
1 personnel
Nasional
National
2 orang
Qualified Internal Auditor (QIA)
2 personnel
BSMR Perbankan Tingkat IV 1 orang
BSMR Banking Level IV 1 personnel
BSMR Perbankan Tingkat II 1 orang
BSMR Banking Level II 1 personnel
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
BSMR Perbankan Tingkat I 7 orang
BSMR Banking Level I 7 personnel
3 orang
Certified Practitioner of Internal Audit (CPIA)
3 personnel
Akuntan (AK) 1 orang
Accountant 1 personnel
Kriteria Personel Audit Internal Criteria for Internal Audit Personnel
Dalam menjalankan fungsi pengawasan yang efektif, In carrying out an effective supervisory function, the
Perseroan memastikan bahwa seluruh personel Audit Company ensures that all Internal Audit personnel not
Internal tidak hanya memiliki kompetensi profesional only possess adequate professional competencies but
yang memadai, tetapi juga menjunjung tinggi standar also uphold standards of conduct that reflect integrity,
perilaku yang mencerminkan integritas, objektivitas, dan objectivity, and dedication in every execution of their
dedikasi dalam setiap pelaksanaan tugas. Komitmen duties. This commitment is emphasized through the
tersebut ditegaskan melalui Piagam Audit Internal, Internal Audit Charter, which establishes the key criteria
yang menetapkan kriteria utama bagi Auditor Internal for the Company’s Internal Auditors, including:
Perseroan, mencakup:
1. Memiliki integritas dan perilaku yang profesional, 1. Hold integrity and professional manners, independent,
independen, jujur, dan objektif dalam pelaksanaan honest and objective in carrying out their duties;
660 tugasnya;
Page 391
2. Memiliki pengetahuan dan pengalaman mengenai 2. Hold knowledge and experience on technical audit
teknis audit dan disiplin ilmu lain yang relevan dengan aspects and other disciplines relevant to their duties;
bidang tugasnya;
3. Memiliki pengetahuan tentang peraturan perundang- 3. Hold knowledge on laws and regulations in capital
undangan di bidang pasar modal dan peraturan market and other relevant laws and regulations;
perundang-undangan terkait lainnya;
4. Memahami prinsip-prinsip tata kelola perusahaan 4. Understand principles of good corporate governance,
yang baik, manajemen risiko dan pengendalian risk management and internal control; and
internal; dan
5. Memiliki kecakapan untuk berinteraksi dan 5. Hold the skills to effectively interact and communicate,
berkomunikasi baik lisan maupun tertulis secara both verbally and in writing.
efektif.
Pelatihan Personel Audit Internal Internal Audit Personnel Training
Perseroan menempatkan peningkatan kapabilitas The Company places the competency development
Divisi Audit Internal sebagai prioritas guna memastikan of the Internal Audit Division as a priority to ensure the
pelaksanaan fungsi pengawasan yang efektif dan sesuai effective implementation of the supervisory function in
standar profesional. Sepanjang tahun 2025, Perseroan accordance with professional standards. Throughout
memfasilitasi penguatan kompetensi seluruh personel 2025, the Company facilitated the strengthening of
melalui program pelatihan dan pendidikan yang relevan, competencies for all personnel through relevant training
sehingga wawasan dan keahlian semakin selaras and education programs, enabling their insights and
dengan kebutuhan pengujian dan penjaminan mutu expertise to become increasingly aligned with the needs
pengendalian internal. Adapun program pengembangan of testing and quality assurance of internal controls. The
kompetensi yang telah dijalankan selama tahun 2025 competency development programs implemented
adalah sebagai berikut: during 2025 are as follows:
Nama Pelatihan Tanggal Penyelenggara Tempat
No. Date Organizer Venue
Title of Training
Praktik Penerapan IFRS S1 dan S2 di Indonesia
Qolbu Center
1 Practices in the Implementation of IFRS S1 and S2 in 12/06/2025 Bogor
Management
Indonesia
2 Workshop Risk Maturity Index (RMI) 14/07/2025 PwC Bogor
Ikatan Komite Audit
Indonesia
3 Certification in Audit Committee Practices (CACP) 07/08/2025 Jakarta
Indonesian Institute of
Audit Committee
Lembaga Profesi Auditor
Internal Indonesia
4 IIA International Conference 2025 08/09/2025 Toronto, Canada
The Institute of Internal
Auditors Indonesia
URCM Forum - Pemanfaatan AI untuk Penguatan
Tata Kelola, Pengendalian Internal, dan Ketahanan
Organisasi PwC, LPSK, PT Semen
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
5 12/06/2025 Bogor
URCM Forum – Utilization of AI to Strengthen Indonesia
Governance, Internal Control, and Organizational
Resilience
Strategi Eksekusi di antara Manajemen Risiko dan
Fraud dalam Pengadaan Tanah
6 06/10/2025 IBS Consulting Bogor
Execution Strategies between Risk Management
and Fraud in Land Acquisition
Robere and Associates
7 Information Security Management System 06/05/2025 Jakarta
(Indonesia)
Workshop Penyelarasan Prosedur dan Dokumen
Internal Control over Financial Reporting (ICoFR)
8 Workshop on the Alignment of Procedures and 19/05/2025 Deloitte Bandung
Documents for Internal Control over Financial
Reporting (ICoFR)
661
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05 Tata Kelola Perusahaan
Good Corporate Governance
Nama Pelatihan Tanggal Penyelenggara Tempat
No. Date Organizer Venue
Title of Training
PENERAPAN APU-PPT & PPPSPM DI LEMBAGA JASA
KEUANGAN (LJK): Meningkatkan Kepatuhan
Regulasi, Pengendalian Risiko, dan Integritas
Sistem Keuangan
9 21/07/2025 AKSELIO Bandung
Implementation of AML, CTF, and CPFWMD in
Financial Services Institutions (FSI): Enhancing
Regulatory Compliance, Risk Control, and the
Integrity of the Financial System
Pembekalan Upaya Pencegahan Kredit/
Pembiayaan Bermasalah melalui Analisa Kredit
& Penerapan Strategi dari Aspek Non-Financial
(Secara End to End) Hikmat Nazar Soebandi &
10 28/07/2025 Semarang
Briefing on Preventive Measures for Non- Partners
Performing Loans/Financing through Credit
Analysis and the Implementation of Strategies
from Non-Financial Aspects (End-to-End)
Strategi Pencegahan dan Penanggulangan Fraud Qolbu Center
11 22/09/2025 Bogor
Fraud Prevention and Mitigation Strategies Management
Forum Komunikasi Satuan
Pengawasan Intern
Benchmarking Global Internal Audit Practices:
12 13/11/2025 Komisariat Asuransi Singapore
Study Visit to Kroll Singapore and UOB Singapore
Negara dan Jasa
Keuangan Plus
13 General ESG Training 08/12/2025 MUFG Bank Singapura
Leadership Development Program for Team ALC Leadership
14 11/12/2025 Yogyakarta
Leaders Batch 1 Management
Leadership Development Program for Team ALC Leadership
15 20/02/2025 Semarang
Leaders Batch 2 Management
Sertifikasi dan Resertifikasi BSMR Jenjang 4
16 07/08/2025 Garda Multi Talenta Jakarta
BSMR Certification and Recertification Level 4
Workshop Compliance Assurance: Penguatan
Pengendalian Internal dan Kepatuhan
17 22/09/2025 Deloitte Bandung
Compliance Assurance Workshop: Strengthening
Internal Control and Compliance
18 National Anti-Fraud Conference 2025 31/07/2025 ACFE Indonesia Yogyakarta
Lembaga Profesi Auditor
Internal Indonesia
19 ACIIA Conference 2025 21/08/2025 Malaysia
The Institute of Internal
Auditors Indonesia
Pelaksanaan Tugas Audit Internal Tahun Implementation of Duties of the Internal
2025 Audit in 2025
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Di tahun 2025, Audit Internal menjalankan peran In 2025, Internal Audit consistently carried out its
pengawasan secara konsisten untuk memastikan supervisory role to ensure the effectiveness of
efektivitas tata kelola, pengendalian internal, dan governance, internal control, and risk management.
manajemen risiko. Pelaksanaan tugas dilakukan melalui The implementation of duties was conducted through
berbagai rapat dan aktivitas pengawasan, termasuk various meetings and supervisory activities, including
rapat koordinatif dengan Direksi dan/atau Dewan coordination meetings with the Board of Directors and/
Komisaris, serta rangkaian kegiatan pendukung lainnya, or the Board of Commissioners, as well as a series of
seperti: supporting activities, including the following:
1. Asurans 1. Assurance
a. Review atas Pencapaian Indikator Kinerja Utama a. Review of the achievement of PT SMI’s Key
(IKU) PT SMI Tahun 2024; Performance Indicators (KPI) for 2024;
b. Audit Penyertaan Modal pada Divisi Penyertaan b. Audit of Equity Investment activities in the Equity
Modal; Investment Division;
c. Audit Divisi Sumber Daya Manusia; c. Audit of the Human Capital Division;
d. Audit terhadap Kegiatan Divisi Umum dan d. Audit of activities of the General Affairs and
Pengadaan; Procurement Division;
e. Audit Kepatuhan atas Penerapan ISO/IEC e. Compliance Audit on the Implementation of ISO/
27001:2022 SMKI Tahun 2025; IEC 27001:2022 Information Security Management
System (ISMS) in 2025;
662
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f. Audit atas Penerapan SNI ISO 22301:2019 Sistem f. Audit of the Implementation of SNI ISO 22301:2019
Manajemen Kelangsungan Usaha (”SMKU”) PT Business Continuity Management System (BCMS)
SMI tahun 2025; at PT SMI in 2025;
g. Review Penilaian Aspek Kinerja untuk Perhitungan g. Review of the Performance Aspect Assessment for
Risk Maturity Index (“RMI”) PT Sarana Multi the calculation of the Risk Maturity Index (RMI) of
Infrastruktur (Persero) untuk Tahun 2024; PT Sarana Multi Infrastruktur (Persero) for 2024;
h. Audit Divisi Sekretariat Perusahaan; h. Audit of the Corporate Secretariat Division;
i. Audit Divisi Pembiayaan Berkelanjutan; i. Audit of the Sustainable Financing Division;
j. Aktivitas Pengelolaan Dana GEUDP & GREM yang j. Audit of Fund Management Activities for GEUDP &
bersumber dari Kerjasama dengan World Bank; GREM sourced from cooperation with the World Bank;
k. Audit atas Aktivitas Pengelolaan dan Pelaporan k. Audit of Management and Reporting Activities of
Sistem Layanan Informasi Keuangan Otoritas Jasa the Financial Information Service System of the
Keuangan Tahun 2025; Financial Services Authority in 2025;
l. Audit Keamanan Teknologi Informasi; l. Information Technology Security Audit;
m. Audit terhadap Kegiatan Divisi Keuangan dan m. Audit of activities of the Finance and Investor
Hubungan Investor; Relations Division;
n. Audit atas Penerapan SNI ISO 37001:2016 Sistem n. Audit of the Implementation of SNI ISO 37001:2016
Manajemen Anti Penyuapan (”SMAP”) pada PT Anti-Bribery Management System (ABMS) at
SMI tahun 2025; PT SMI in 2025;
o. Audit terhadap Kegiatan SMI Institute; o. Audit of activities of the SMI Institute
p. Joint Audit PT Cimanggis Cibitung Tollways; p. Joint Audit of PT Cimanggis Cibitung Tollways
q. Audit Investigasi atas Indikasi Peretasan Email q. Investigative Audit regarding indications of
Perusahaan; a corporate email hacking incident;
r. Penilaian Efektivitas Sistem Pengendalian Internal r. Assessment of the Effectiveness of the Internal
(SPI) pada Tingkat Entitas PT SMI (Persero) Tahun Control System (SPI) at the Entity Level of PT SMI
2024. (Persero) for 2024.
2. Advisory 2. Advisory
a. Pertimbangan dan hal-hal yang perlu dilakukan a. Considerations and matters that need to be
terkait pemanfaatan AI dalam kegiatan Perseroan; addressed regarding the utilization of AI in the
Company’s activities
b. Insight dari Retreat Kepala Daerah; b. Insights from the Regional Heads Retreat
c. Usulan Sosialisasi/ Workshop IFRS S1 dan IFRS S2; c. Proposal for Socialization/Workshop on IFRS S1
and IFRS S2
d. Masukan terhadap draft Revisi Prosedur Penyertaan d. Input on the draft revision of the Equity Investment
Modal Perusahaan Bidang Infrastruktur (PBI) Procedure in Infrastructure Sector Companies (PBI)
e. Dukungan Penerapan ICOFR. e. Support for the implementation of ICOFR
f. Dukungan finalisasi (pelaksanaan User f. Support for the finalization (User Acceptance
Acceptance Testing / UAT) Otomasi Proses Testing/UAT) of Administrative Process Automation
Administrasi
g. Pembayaran Fase ke-2 dan User Requirements g. Second phase payment and User Requirements
Gathering (“URG”) Otomasi Proses Administrasi Gathering (URG) for Administrative Process
Automation PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
h. Pembayaran Fase ke-3 pada Aplikasi General h. Third phase payment of the General Affair Service
Affair Service System (“GASS”) tanggal 30 Private System (GASS) Application on June 30 (Private
Window Juni – 1 Juli 2025. Window) – July 1, 2025
i. Dukungan pelaksanaan pengembalian dana i. Support for the implementation of fund
atas ketidaksesuaian dalam PJUM untuk kegiatan reimbursement due to discrepancies in PJUM for
Perseroan. Company activities
j. Rapat Pinjaman Pemkab Poso dengan BPK j. Meeting regarding the loan of Poso Regency
Perwakilan Pemprov Sulteng. Government with the BPK Representative Office
of the Central Sulawesi Provincial Government;
k. Dukungan DAI perihal usulan perubahan T&C k. Internal Audit support regarding the proposed
pembiayaan a.n. PT Indika Empat Mitra Surya amendment to the financing terms and conditions
(IEMS); of PT Indika Empat Mitra Surya (IEMS);
l. Dukungan World Bank Mission: GREM - Financial l. Support for the World Bank Mission: GREM –
Management Supervision Meeting. Financial Management Supervision Meeting
m. Dukungan permohonan review atas draft Memo m. Support for the request to review the draft
Mekanisme dan Memo Produk GREM. mechanism memo and GREM product memo
n. Dukungan DAI terhadap penyusunan Draft n. Internal Audit support for the preparation of the
Mekanisme Internal serta Draft Memo Produk GREM draft internal mechanism and draft GREM Private
Private Window. Window product memo 663
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05 Tata Kelola Perusahaan
Good Corporate Governance
o. Memberikan masukan atas Pengkinian (RCSA) o. Providing input on the update of the 2025 Risk and
2025 kepada masing-masing Divisi Control Self-Assessment (RCSA) for each Division.
3. Pendampingan
a. Pendampingan Badan Pemeriksa Keuangan 3. Assistance
Republik Indonesia (“BPK-RI”) berupa: a. Assistance to the Audit Board of the Republic of
i) Pemantauan Tindak Lanjut (PTL) Rekomendasi Indonesia (BPK-RI), including:
Hasil Pemeriksaan, BPK RI dan Penyelesaian i) M o n i t o r i n g t h e F o l l o w - U p o n A u d i t
Kerugian Negara Periode Semester II Tahun Recommendations and Settlement of State
2024 Losses for Semester II of 2024;
ii) Pemutakhiran Profil Entitas Pemeriksaan,
Pemantauan Tindak Lanjut (PTL) Rekomendasi ii) Updating the Audit Entity Profile and Monitoring
Hasil Pemeriksaan BPK RI dan Penyelesaian Follow-Up on Audit Recommendations and
Kerugian Negara Periode Semester I Tahun Settlement of State Losses for the Semester
2025 I of 2025;
iii) Pendampingan BPK terkait pengumpulan
data dan informasi dalam rangka persiapan iii) Assistance to BPK in collecting data and
pemeriksaan pada PT SMI di Jakarta. information for audit preparation at PT SMI in
iv) Pendampingan BPK terkait Pemantauan Tindak Jakarta;
Lanjut (PTL) Rekomendasi Hasil Pemeriksaan iv) Assistance to BPK regarding monitoring follow-
Badan Pemeriksa Keuangan Republik up actions on BPK audit recommendations,
Indonesia, Pemutakhiran Data Entitas dan updating entity data, and settlement of state
Penyelesaian Kerugian Negara (Keruneg) losses (Keruneg) for Semester I and II of 2025;
Periode Semester I dan II Tahun 2025;
v) Pendampingan BPK terkait pelaksanaan PDTT
Pengelolaan Aktivitas Pembiayaan Infrastruktur v) Assistance to BPK regarding the implementation
dan Operasional pada PT Sarana Multi of a Specific Purpose Audit (PDTT) on the
Infrastruktur (Persero) Tahun 2025. Management of Infrastructure Financing
and Operational Activities at PT Sarana Multi
b. Pendampingan Inspektorat Jenderal (Itjen) Infrastruktur (Persero) in 2025.
Kementerian Keuangan berupa Monitoring Tindak b. Assistance to the Inspectorate General of the
Lanjut atas Hasil Audit Pelaksanaan Fasilitas Ministry of Finance in monitoring follow-up actions
Penyiapan Proyek dan Pendampingan Transaksi on the results of audits on the implementation
serta Pembiayaan Infrastruktur Proyek KPBU SPAM of the Project Preparation Facility, Transaction
pada PT Sarana Multi Infrastruktur (Persero); Advisory, and PPP SPAM Infrastructure Financing
c. Pendampingan kepada Dewan Komisaris dan at PT Sarana Multi Infrastruktur (Persero);
Komite Audit, yaitu berupa dukungan pelaksanaan c. Assistance to the Board of Commissioners and
rapat Komite Audit dan penyampaian informasi the Audit Committee, including support for the
yang menjadi area DAI. implementation of Audit Committee meetings
and the provision of information related to the
d. Pendampingan Badan Pengawasan Keuangan Internal Audit Division;
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
dan Pembangunan (“BPKP”) dalam pelaksanaan d. Assistance to the Financial and Development
Penilaian Good Corporate Governance (“GCG”) Supervisory Agency (BPKP) in the implementation
PT SMI tahun 2024. of the Good Corporate Governance (GCG)
e. Pendampingan Otoritas Jasa Keuangan (OJK) Assessment of PT SMI for 2024;
berupa: e. Assistance to the Financial Services Authority,
i) Monitoring Tindak Lanjut atas Hasil Pemeriksaan including:
OJK dalam rangka Pemeriksaan Langsung PT i) Monitoring follow-up actions on the results
SMI Tahun 2024. of the Financial Services Authority’s on-site
ii) Pendampingan OJK terkait Pemeriksaan examination of PT SMI for 2024;
Berkala PT SMI Tahun 2025. ii) Assistance in the Financial Services Authority’s
f. Pendampingan Kantor Akuntan Publik periodic examination of PT SMI in 2025.
i) Audit Umum PT SMI Tahun Buku 2024 oleh KAP f. Assistance to the Public Accounting Firm, including:
Gani Sigiro & Handayani (“Grant Thornton i) General Audit of PT SMI for the 2024 Fiscal
Indonesia”); Year by Public Accounting Firm Gani Sigiro &
ii) Pendampingan Penawaran Umum Obligasi Handayani (“Grant Thornton Indonesia”);
Keberlanjutan Berkelanjutan I Sarana Multi ii) Assistance in the Public Offering of Shelf
Infrastruktur Tahap I Tahun 2025; Registration Bonds I of Sarana Multi Infrastruktur
iii) Pendampingan Pengadaan KAP Tahun 2025 Tranche I in 2025;
iii) Assistance in the procurement of Public
664 iv) Pendampingan Audit Umum PT SMI Tahun Accounting Firm services in 2025;
Page 395
Buku 2025 oleh KAP Amir Abadi Jusuf, Aryanto, iv) Assistance in the General Audit of PT SMI for
Mawar & Rekan (“RSM Indonesia”) the 2025 Fiscal Year by Public Accounting Firm
Amir Abadi Jusuf, Aryanto, Mawar & Partner
g. Dukungan sebagai observer dan saksi dalam (“RSM Indonesia”).
pembukaan proposal pengadaan g. Support as observer and witness in the opening
of procurement proposals.
4. Manajemen Internal
a. Penyusunan RKAP DAI Tahun 2025; 4. Internal Management
a. Preparation of the 2025 Work Plan and Budget of
b. Monitoring KPI dan RKPT DAI Tahun 2025; the Internal Audit Division
b. Monitoring of the KPI and Annual Audit Work Plan
c. Monitoring Anggaran DAI 2025; (RKPT) of the Internal Audit Division for 2025
c. Monitoring of the Internal Audit Division Budget
d. Penyusunan Laporan Monitoring Tindak Lanjut for 2025
(“Montila”) 2025; d. Preparation of the 2025 Follow-Up Monitoring
e. Penyusunan Laporan Kegiatan DAI Triwulan I, II Report (Montila);
dan III tahun 2025, dan Laporan Tahunan DAI 2025; e. Preparation of the Internal Audit Division Activity
Reports for Q1, Q2, and Q3 of 2025 and the 2025
f. Penyampaian Laporan Rutin Lainnya (GOCEQ, Annual Report of the Internal Audit Division;
RAS/Profil Risiko, Kuesioner Kepatuhan) f. Submission of other routine reports (GOCEQ, RAS/
g. Pelaksanaan revisi Piagam Audit Internal dan Risk Profile, Compliance Questionnaire);
Prosedur Audit Internal serta penyusunan g. Implementation of revisions to the Internal Audit
Kebijakan Audit Internal dan Petunjuk Teknis Audit Charter and Internal Audit Procedures, as well
Internal atas Teknologi Informasi ; as the preparation of Internal Audit Policies and
Technical Guidelines for Information Technology
h. Pemenuhan kompetensi; Audits;
i. Pengembangan Auditor (Continuing Professional h. Fulfillment of competency requirements;
Development); i. Auditor development (Continuing Professional
Development).
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
665
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05 Tata Kelola Perusahaan
Good Corporate Governance
SISTEM PENGENDALIAN INTERNAL
INTERNAL CONTROL SYSTEM
Dalam rangka memperkuat fondasi tata kelola yang To strengthen the foundation of prudent governance
prudent dan memastikan seluruh aktivitas usaha berjalan and ensure that all business activities are conducted
sesuai standar pengelolaan perusahaan yang unggul, in accordance with excellent corporate management
PT SMI menetapkan Sistem Pengendalian Internal (SPI) standards, PT SMI has established an Internal Control
kerangka pengendalianyang terintegrasi dan strategis. System as an integrated and strategic control
SPI diterapkan berpedoman pada Peraturan Menteri framework. The Internal Control System is implemented in
Keuangan No. 88/PMK.06/2015 tentang Penerapan Tata accordance with Regulation of the Minister of Finance No.
Kelola Perusahaan yang Baik pada Perusahaan Perseroan 88/PMK.06/2015 concerning the Implementation of Good
(Persero) di bawah Pembinaan dan Pengawasan Menteri Corporate Governance in Limited Liability Companies
Keuangan. Peraturan tersebut mengamanatkan Direksi (Persero) under the Guidance and Supervision of the
untuk membangun sistem pengendalian internal Minister of Finance. The regulation mandates the Board of
yang efektif dalam rangka melindungi aset Perseroan, Directors to establish an effective internal control system
mengawasi proses bisnis secara berkelanjutan, dan to safeguard the Company’s assets, continuously oversee
mendukung pencapaian sasaran korporat. business processes, and support the achievement of
corporate objectives.
SPI berperan memastikan bahwa proses operasional, The Internal Control System plays a role in ensuring that
keuangan, dan administratif dijalankan secara disiplin, operational, financial, and administrative processes are
transparan, dan terkendali sebagai bagian dari penerapan carried out in a disciplined, transparent, and controlled
prinsip-prinsip pengendalian internal untuk mendukung manner as part of the implementation of internal control
efektivitas tata kelola dan kepatuhan Perseroan. Melalui principles to support the effectiveness of governance and
kerangka pengendalian yang sistematis dan terintegrasi, the Company’s compliance. Through a systematic and
SPI memberikan tingkat keyakinan (assurance) yang integrated control framework, the Internal Control System
memadai atas efektivitas dan efisiensi operasional, provides a reasonable level of assurance regarding the
keandalan pelaporan keuangan, serta kepatuhan effectiveness and efficiency of operations, the reliability
Perseroan terhadap ketentuan hukum dan regulasi yang of financial reporting, and the Company’s compliance
berlaku. with applicable laws and regulations.
Penerapan SPI ini memperkuat internalisasi nilai The implementation of the Internal Control System
kepatuhan dan tata kelola yang bertanggung jawab, strengthens the internalization of compliance values and
sekaligus memperkuat kepercayaan pemangku responsible governance, while also reinforcing stakeholders’
kepentingan terhadap kesinambungan kinerja serta confidence in the sustainability of the Company’s
penciptaan nilai jangka panjang Perseroan. performance and the creation of long-term value.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
PENGENDALIAN KEUANGAN FINANCE AND OPERATIONAL CONTROL
DAN OPERASIONAL
Perseroan menerapkan pengendalian keuangan secara The Company implements effective and comprehensive
efektif dan menyeluruh dengan mengacu pada Rencana financial control by referring to the Company’s Work Plan
Kerja dan Anggaran Perusahaan (RKAP) yang ditetapkan and Budget that has been established and approved
serta disetujui oleh RUPS. Penerapan ini diperkuat oleh by GMS, supported by a financial management system
sistem pengelolaan keuangan yang sesuai dengan compliant with Financial Accounting Standards and
Standar Akuntansi Keuangan (SAK), regulasi terkait, other relevant regulations, as well as strict financial
serta kebijakan dan prosedur internal yang ketat. management procedure and policy. Based on this, the
Berdasarkan landasan tersebut, Perseroan melaksanakan Company implements financial controls through:
pengendalian keuangan melalui:
1. Mengamankan aset Perseroan 1. Securing the Company’s assets
Sebagai entitas usaha, Perseroan memastikan adanya As a business entity, the Company ensures the security
pengamanan atas penggunaan anggaran dan of using the budget and other Company’s assets,
aset Perseroan lainnya, serta penyelenggaraannya and their implementation, starting from planning,
dalam mulai dari perencanaan, pengotorisasian, authorizing, recording, distribution, disbursement,
pencatatan, penyaluran, pencairan, pelaporan, reporting, to providing accountability.
666 hingga pada pertanggungjawabannya.
Page 397
2. Menguji keandalan laporan keuangan 2. Testing the reliability of financial statements
Pertanggungjawaban pengelolaan usaha tercermin Business management accountability is reflected in
dalam laporan keuangan. Perseroan memastikan the financial report. The Company ensures a system
adanya sistem dan prosedur yang meningkatkan and procedure that improves the quality of financial
kualitas penyusunan dan penyajian laporan report development and presentation, for example by
keuangan, misalnya dengan pemisahan fungsi-fungsi separating financial implementing functions.
penyelenggara keuangan.
3. Mendorong efektivitas penggunaan anggaran 3. Promoting budget control effectiveness
Melalui pengendalian internal, Perseroan memantau Through financial control, the Company monitors and
dan mendorong penggunaan anggaran secara encourages effective and correctly targeted budget
efektif agar tidak menyimpang dari tujuan yang telah use so that it does not deviate from the set goals.
ditetapkan.
Pengendalian operasional Perseroan berfungsi sebagai The Company’s operational control functions as a
mekanisme untuk memastikan kapasitas sumber daya mechanism to ensure that the Company’s resource
perusahaan mampu memenuhi target kerja secara efektif capacity can meet work targets effectively and efficiently.
dan efisien. Mekanisme ini menjamin seluruh aktivitas This mechanism ensures that all business activities are
usaha berjalan sesuai rencana serta memungkinkan carried out in accordance with the plan and allows for
penyesuaian strategi bila diperlukan. Dalam hal ini, RKAP strategic adjustments when necessary. In this regard, the
menjadi instrumen kontrol utama yang diperkuat oleh Company’s Work Plan and Budget (RKAP) serves as the
sistem kerja, standar prosedur operasional (SOP), dan primary control instrument, supported by the work system,
kebijakan pendukung yang selaras dengan ketentuan Standard Operating Procedures (SOP), and supporting
peraturan perundang-undangan yang berlaku. policies aligned with applicable laws and regulations.
KERANGKA SISTEM INTERNAL CONTROL
PENGENDALIAN INTERNAL SYSTEM FRAMEWORK
Perseroan menerapkan Sistem Pengendalian Internal The Company implements the Internal Control System by
dengan mengacu pada Internal Control – Integrated referring to the Internal Control – Integrated Framework
Framework yang dikembangkan oleh Committee of the developed by the Committee of the Sponsoring
Sponsoring Organizations of the Treadway Commission Organizations of the Treadway Commission (COSO), as
(COSO), sebagai standar internasional yang efektif dalam an international standard that is effective in strengthening
memperkuat tata kelola dan integritas operasional. governance and operational integrity. The framework
Framework ini mencakup 5 (lima) komponen dan 17 (tujuh consists of 5 (five) components and 17 (seventeen)
belas) prinsip yang saling terintegrasi untuk memastikan principles that are integrated to ensure that internal
pengendalian internal berjalan secara konsisten, andal, control operates consistently and reliably, and is able
serta mampu mendukung pencapaian tujuan Perseroan, to support the achievement of the Company’s objectives,
sebagai berikut: as follows:
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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05 Tata Kelola Perusahaan
Good Corporate Governance
Informasi dan
Lingkungan Kegiatan
Penilaian Risiko Komunikasi Pemantauan
Pengendalian Pengendalian
Risk Assessment Information and Monitoring
Control Environment Control Activity
Communication
• Mewujudkan
komitmen terhadap
integritas dan nilai-
nilai etika.
Achieve
• Memilih dan
commitment to
mengembangkan
integrity and ethical
kegiatan
values. • Menetapkan tujuan-
pengendalian yang
• Melaksanakan tujuan dengan tepat • Menggunakan
tepat
tanggung jawab Establish goals informasi yang • Melaksanakan
Select and develop
pengawasan properly relevan dan evaluasi secara
the proper control
Carry out • Mengidentifikasi dan berkualitas berkelanjutan
activity
supervisory menganalisis risiko Use relevant and dan/atau secara
• Memilih dan
responsibility Identify and analyze quality information terkelompok
mengembangkan
• Menetapkan risk • Berkomunikasi dan Conduct sustainable
Kegiatan
struktur organisasi, • Mempertimbangkan berbagi informasi evaluation and/or in
pengendalian
wewenang dan potensi kecurangan secara internal groups
umum atas
tanggung jawab (fraud) Internally • Mengevaluasi dan
teknologi yang
yang tepat Considering communicate and mengomunikasikan
digunakan
Establish the right potential fraud risks share information kelemahan untuk
Select and develop
organizational • Mengidentifikasi • Berkomunikasi dan mengambil tindakan
general control
structure, authority, dan menganalisis berbagi informasi korektif
activities on the
and responsibility perubahan yang dengan pihak Evaluate and
technology used
• Menunjukkan berdampak eksternal communicate
• Memberlakukan
komitmen terhadap signifikan Communicate and deficiencies to take
pengendalian
kompetensi individu Identify and analyze share information corrective actions
melalui kebijakan
Demonstrate changes with with external parties
dan prosedur
commitment significant impact
Enforce control
to individual
through policies and
competency
procedures
• Menjunjung
akuntabilitas
individu
Uphold individual
accountability
Sebagai tindak lanjut atas kerangka kerja tersebut, As a follow-up to the framework, the Company establishes
Perseroan menetapkan 4 (empat) tujuan pengendalian 4 (four) control objectives that are aligned with the risk
yang selaras dengan proses pengelolaan risiko, yaitu: management process, namely:
1. Tujuan Kepatuhan yaitu kepatuhan terhadap 1. Compliance Objective, namely compliance with
peraturan dan perundang-undangan yang berlaku. prevailing laws and regulations.
2. Tujuan Operasional yaitu efektivitas dan efisiensi 2. Operational Objective, namely effectiveness and
dalam kegiatan usaha Perseroan yaitu dalam efficiency in utilizing assets and other resources in
menggunakan aset dan sumber daya lainnya yang Company’s operational business.
digunakan.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
3. Tujuan Informasi yaitu tersedianya informasi 3. Information Objective, namely the availability of
keuangan dan manajemen yang benar, lengkap, financial and management information in an
tepat waktu dan relevan yang diperlukan dalam accurate, complete, relevant and timely manner
pengambilan keputusan. required for the decision-making process.
4. Tujuan Budaya Risiko yaitu meningkatkan efektivitas 4. Risk Culture Objective, namely improving risk culture
budaya risiko (risk culture) pada perusahaan secara effectiveness thoroughly in the Company to support
menyeluruh untuk mendukung identifikasi kelemahan early identification of deficiency and deviation, and
dan penyimpangan secara dini dan menilai kembali to continually reassess the policy and procedure in
kewajaran kebijakan dan prosedur yang ada di the Company.
Perseroan secara berkesinambungan.
KESESUAIAN DENGAN CONFORMITY TO INTERNATIONAL
STANDAR INTERNASIONAL STANDARDS
Pengendalian internal dalam operasional Perseroan Internal control in the Company's business operations is
diterapkan dengan mengacu pada kesesuaian terhadap implemented by aligning with the main components of
komponen utama COSO–Internal Control Integrated COSO-Internal Control Integrated Framework, as follows:
Framework, sebagai berikut:
668
Page 399
1. Lingkungan Pengendalian 1. Control Environment
Lingkungan pengendalian adalah suatu standar, Control environment is a standard, process and
proses, dan struktur yang menjadi dasar structure that provides basis for internal control. The
penerapan pengendalian internal. Perseroan terus Company continues to echo the importance of internal
menggaungkan mengenai pentingnya pengendalian control and behavior standards expected across all
internal dan standar perilaku yang diharapkan di elements of the organization. The Company also has
seluruh unsur organisasi. Perseroan juga menetapkan determined parameters in governance conducts;
parameter-parameter tata kelola; struktur organisasi organization structure and distribution of authority
serta pembagian wewenang dan tanggung jawab; and responsibility; Human Capital management,
pengelolaan SDM, pengembangan kompetensi; competence development; clarity on performance
kejelasan ukuran kinerja dan insentif, integritas dan appraisal and incentives; integrity and ethics, as
nilai-nilai etika, serta standar akuntabilitas kinerja, well as performance accountability standards, in
yang selaras dan mendukung pengendalian internal accordance with and support effective and efficient
yang efektif dan efisien. internal control.
2. Penilaian Risiko 2. Risk Assessment
Perseroan menetapkan tujuan Perseroan baik tujuan The Company establishes its goals, both long-term
jangka panjang maupun jangka pendek, yang and short-term, which will then be used to identify,
kemudian digunakan untuk mengidentifikasi, menilai assess and manage different types of risks coming
dan mengelola berbagai risiko baik bersumber from external as well as internal, and analyze the
dari eksternal maupun internal, dan menganalisis impact of these risks to Company’s objectives, along
dampak risiko tersebut terhadap tujuan Perseroan, with the possible changes from external and internal.
maupun kemungkinan terjadinya perubahan baik
dari eksternal maupun internal.
3. Aktivitas Pengendalian 3. Control Activity
Aktivitas pengendalian internal dijalankan sesuai Internal control activity is implemented in accordance
dengan ukuran, kompleksitas, dan sifat dari tugas with the size, complexity and nature of Company’s
dan fungsi Perseroan. Aktivitas pengendalian dapat duties and functions. Control activity can be basic
bersifat tindakan preventif dasar, berupa aktivitas preventive actions and can take the form of manual
manual maupun otomatis seperti otorisasi dan/atau or automatic activities, such authorization and/or
persetujuan, verifikasi, rekonsiliasi dan kajian proses approval, verification, reconciliation and business
bisnis. Aktivitas pengendalian wajib dilakukan pada process review. Control activity is mandatory to be
semua unit kerja di Perseroan, di berbagai tahapan carried out in all units in the Company, at various
bisnis proses dengan dukungan sistem dan teknologi. stages of the business process with the support of
Perseroan secara konsisten melakukan kaji ulang system and technology. The Company consistently
untuk mengetahui kemungkinan risiko yang belum conducts reviews to determine possible uncontrolled
dikendalikan, baik risiko yang sudah ada maupun risiko risk, both existing risk and emerging risk. The reviews
yang baru muncul. Pelaksanaan kaji ulang tersebut are carried out through continuous evaluation of
antara lain dengan melakukan evaluasi secara terus any impact from changes in the environment and
menerus terhadap dampak dari setiap perubahan external conditions, as well as the impact on target
lingkungan dan kondisi eksternal, serta pengaruhnya achievement or internal control effectiveness in the
pada pencapaian target dan efektivitas pengendalian Company’s operations.
internal dalam kegiatan operasi Perseroan. PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
4. Informasi dan Komunikasi 4. Information and Communication
Perseroan terus mengembangkan sistem informasi The Company continuously develops an information
yang dapat memproses dan menghasilkan system that can process and produce quality
informasi yang relevan dan berkualitas, baik dari and relevant information, both from internal also
sumber internal maupun eksternal, untuk digunakan external sources, to be used in the Company’s
dalam pelaksanaan tugas pengawasan maupun supervisory and operational management duties.
pengelolaan operasional usaha. Dewan Komisaris, The Board of Commissioners, the Board of Directors
Direksi dan jajaran manajemen memerlukan and management require accurate, sufficient
data dan/atau informasi yang akurat, memadai and comprehensive data as well as information
dan menyeluruh mengenai keuangan, peraturan regarding finance, laws and regulation, market
perundang-undangan, informasi pasar, atau information, or and every incident and condition
kejadian maupun kondisi yang berpengaruh that affects decision making. The Company also
pada pengambilan keputusan. Perseroan terus continuously develops effective communication
mengembangkan saluran komunikasi yang efektif channel to ensure all of Company’s management
dalam memastikan seluruh pejabat dan staf and employees fully understand and comply with the
Perseroan sepenuhnya memahami dan mematuhi policies and procedures in carrying out their duties
kebijakan dan prosedur dalam melaksanakan tugas and responsibilities. The Company’s organization
dan tanggung jawab. Struktur organisasi Perseroan structure is established to enable easier information
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05 Tata Kelola Perusahaan
Good Corporate Governance
disusun untuk memudahkan proses diseminasi dissemination process in the organization, from top to
informasi yang mengalir dalam organisasi, baik dari bottom, from bottom to top, as well as across functions
atas ke bawah, dari bawah ke atas, maupun lintas or units.
satuan atau unit kerja.
5. Kegiatan Pemantauan 5. Monitoring Activity
Pemantauan pengendalian internal meliputi Internal control monitoring includes internal
kegiatan penilaian internal terhadap implementasi assessment activity on the implementation of
sistem pengendalian internal Perseroan, termasuk Company’s internal control system, including an
penilaian apakah mutu kerja yang dilakukan tetap assessment of whether the work quality remains in line
sejalan dengan tujuan usaha Perseroan. Pemantauan with the Company’s business objectives. Monitoring
dilaksanakan melalui evaluasi berkelanjutan, is carried out through continuous evaluation, partial
evaluasi terpisah atau kombinasi dari keduanya, evaluation or a combination of the two, to ensure the
untuk memastikan masing-masing dari 5 (lima) 5 (five) internal control components are implemented
komponen pengendalian internal diterapkan dan and working. Sustainable evaluation is attached to
berfungsi. Evaluasi berkelanjutan dilekatkan ke the business process of each work unit, along with
dalam proses bisnis pada setiap tingkat unit kerja, providing timely information by the first and second
disertai penyediaan informasi yang tepat waktu oleh line of defenses. A separate evaluation is conducted
pertahanan lini pertama dan kedua. Evaluasi terpisah periodically by the third line of defense, in which
dilaksanakan secara periodik oleh pertahanan lapis implementation is the combination of both, to ensure
ketiga, di mana pelaksanaannya akan bervariasi its success. Each scope and frequency are varied,
secara lingkup dan frekuensi tergantung pada depending on risk assessment and effectiveness of
penilaian risiko, efektivitas evaluasi yang sedang ongoing evaluation as well as other considerations
berlangsung dan pertimbangan lain dari Direksi. from the Board of Directors. Evaluation will be followed
Evaluasi akan diikuti dengan tindakan koreksi by corrective actions on deviations or deficiencies and
terhadap penyimpangan atau kelemahan, dan strengthened control to maintain the enforcement of
penguatan pengendalian untuk menjaga penegakan principles in each SPI component.
prinsip-prinsip dalam setiap komponen SPI.
Tinjauan Efektivitas Sistem Pengendalian Review of the Effectiveness of Internal
Internal Control System
Dalam rangka memperkuat tata kelola dan pengendalian To strengthen governance and risk control, PT SMI consistently
risiko, PT SMI secara konsisten melakukan evaluasi conducts comprehensive and continuous evaluations of the
menyeluruh dan berkesinambungan atas efektivitas effectiveness of the Internal Control System. This evaluation
Sistem Pengendalian Internal (SPI). Evaluasi ini bertujuan aims to assess the adequacy and effectiveness of the control
untuk menilai kecukupan dan efektivitas mekanisme mechanisms implemented, as well as to measure the
pengendalian yang diterapkan, serta mengukur tingkat maturity level of the Internal Control System implementation
maturitas implementasi SPI di seluruh unit kerja Perseroan. across all work units of the Company.
Pada tahun 2025, Perseroan menugaskan Divisi Audit In 2025, the Company assigned the Internal Audit Division to
Internal untuk melaksanakan penilaian independen conduct an independent assessment of the Internal Control
terhadap SPI, mencakup tingkat entitas Perusahaan. System, covering the Company’s entity level. The results
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Hasil penilaian tersebut dituangkan dalam Surat of this assessment were documented in Letter No. L-012/
Nomor L-012/SMI/DU/DAI/2025 tanggal 29 Desember SMI/DU/DAI/2025 dated December 29, 2025, concerning
2025 tentang Laporan Hasil Peniliaian atas Efektivitas the Report on the Assessment Results of the Effectiveness
Sistem Pengendalian Internal pada Tingkat Entitas PT SMI. of the Internal Control System at the Entity Level of PT SMI.
Berdasarkan hasil evaluasi tersebut, DAI menyimpulkan Based on the results of the evaluation, the Internal Audit
bahwa penerapan sistem pengendalian internal pada Division concluded that the implementation of the internal
tingkat entitas PT SMI Tahun 2024 telah dilakukan secara control system at the entity level of PT SMI in 2024 had been
sangat efektif dengan skor hasil penilaian 90,696 dari carried out very effectively, with an assessment score of
skor maksimum sebesar 100. 90.696 out of a maximum score of 100.
Merujuk pada hasil penilaian, DAI menyampaikan saran Referring to the assessment results, the Internal Audit
peningkatan (opportunity for improvement) untuk Division provided several suggestions for improvement
penerapan sistem pengendalian pada level entitas, yaitu (opportunity for improvement) in the implementation of
sebagai berikut: the internal control system at the entity level, as follows:
1. Melakukan evaluasi efektivitas pengelolaan WBS, 1. Conduct an evaluation of the effectiveness of the
termasuk komunikasi hasil penanganan WBS kepada management of the Whistleblowing System (WBS),
insan SMI dan konsistensi penerapan prinsip WBS. including communication of the handling results of
Evaluasi dapat dilakukan dengan acuan ISO 37003 WBS reports to SMI personnel and consistency in the
atau framework lainnya implementation of WBS principles. The evaluation
670 may refer to ISO 37003 or other relevant frameworks.
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2. Melakukan evaluasi dan pengkajian perbaikan 2. Conduct an evaluation and review to improve leader–
hubungan komunikasi leader-member exchange member exchange communication relationships
yang bertujuan mengembangkan hubungan atasan- aimed at developing positive superior–subordinate
bawahan dengan sikap positif, loyalitas, kesetiaan, relationships characterized by positive attitudes,
rasa hormat, dan kontribusi yang tinggi terhadap loyalty, trust, respect, and high contributions to the
kinerja anggota dalam organisasi. performance of organizational members.
3. Melakukan pengaturan lebih detil tentang tata kelola 3. Establish more detailed arrangements regarding the
hubungan PT SMI dengan perusahaan dan tenaga governance of the relationship between PT SMI and
alih daya karena PT SMI menggunakan alih daya outsourced companies and personnel, considering
pendukung pekerjaan administrasi dan pekerjaan that PT SMI utilizes outsourced personnel to support
dasar lainnya. administrative and other basic work.
4. Melakukan benchmark atas skor employee 4. Conduct benchmarking of employee engagement
engagement dari survey rutin employee engagement scores obtained from routine internal employee
yang telah dilakukan oleh internal (menggunakan engagement surveys (using engagement
kuesioner engagement yang pernah dibuat questionnaires previously developed by consultants)
konsultan) dengan rata-rata industri global atau against the global or domestic industry average and
domestik dan mengalibrasi parameter engagement recalibrate engagement parameters considering the
dengan adanya fenomena generasi Y dan generasi Z characteristics and expectations of Generation Y and
yang berbeda karakter dan tuntutan dengan generasi Generation Z, which differ from those of Generation X
X dan baby boomers. and Baby Boomers.
5. Menyusun prosedur Fraud Risk Assesment (FRA) 5. Develop procedures for Fraud Risk Assessment (FRA),
karena metodologi FRA bersifat unik dan tidak bisa as the FRA methodology is unique and cannot be
disamakan dengan metodologi risiko operasional. equated with operational risk methodologies. The
Prosedur FRA ini akan menghasilkan register Fraud FRA procedure will produce a Fraud Risk register that
Risk yang lebih sesuai dengan best practices atau is more aligned with best practices or anti-fraud
antifraud framework, yang berbeda karakteristik frameworks, which have different characteristics
dengan RCSA. from RCSA.
6. Melakukan kaji ulang secara tertulis di setiap 6. Conduct a documented review whenever there is a
perubahan kepemimpinan, paling sedikit ada atau change in leadership, at a minimum to determine
tidak perubahan atas risk appetite & pursue, risk whether there are changes in risk appetite and pursue,
tolerance, risk strategy. Hal ini sesuai Point of Focus: risk tolerance, and risk strategy. This is in line with the
“Assesses Changes in Leadership — The organization Point of Focus: “Assesses Changes in Leadership — The
considers changes in management and respective organization considers changes in management and
attitudes and philosophies on the system of internal respective attitudes and philosophies on the system
control”, meskipun tidak ada register risiko terkait of internal control,” even though there is no risk register
perubahan kepemimpinan SMI. related to leadership changes within SMI.
7. Melakukan perbaikan dalam pengelolaan Teknologi 7. Improve the management of Technology and
dan Sistem Informasi sebagai berikut: Information Systems as follows:
a. Menyusun kelengkapan prosedur teknis terkait a. Develop complete technical procedures related to
pengelolaan Teknologi dan Sistem Informasi the management of Technology and Information
sesuai saran pada laporan IT Capability & Maturity Systems in accordance with the recommendations
Based on COBIT 2019 oleh konsultan Robere & in the IT Capability & Maturity report based on PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Associate (halaman 352-354). COBIT 2019 prepared by the consultant Robere &
Associate (pages 352–354).
b. Menyelesaikan inisiatif information/ IT security b. Complete information/IT security initiatives related
pada mobile working dalam penerapan praktik to mobile working in the implementation of the
Bring Your Own Device (BYOD). Bring Your Own Device (BYOD) practice.
c. Melakukan evaluasi terhadap kecukupan bukti c. Evaluate the adequacy of documented evidence
dokumentasi adanya pelaksanaan kontrol pada demonstrating the implementation of controls in
dokumen formulir atau laporan di seluruh prosedur forms or reports across all technical Information
teknis Teknologi Informasi yang sudah disusun Technology procedures that have been prepared
atau yang seharusnya disusun. or should be prepared.
8. Mengevaluasi dan melakukan pengkajian/ 8. Evaluate and conduct reviews or brainstorming
brainstorming menindaklanjuti skor persepsi yang sessions to follow up on relatively low perception
relatif rendah baik di tingkat eksekutor maupun scores, both at the executor and executive levels,
eksekutif atas pertanyaan kuesioner mengenai regarding questionnaire questions related to the
kesesuaian alikasi IT dan pengendaliannya dengan suitability of IT allocation and its controls with the
kebutuhan perusahaan dan terintegrasi; berfungsinya Company’s needs and integration; the functioning
aplikasi IT dan pengendaliannya sesuai dengan of IT applications and their controls as expected
harapan (misal keandalan dan kerahasiaan); (e.g., reliability and confidentiality); and the ability
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Good Corporate Governance
dan kemampuan sistem informasi komunikasi of communication information systems to produce
menghasilkan informasi yang tepat waktu, up to date, timely, up-to-date, complete, accessible, secure, and
lengkap, mudah diakses, aman, handal. reliable information.
9. Melakukan kajian atau penelitian penyebab past 9. Conduct a review or research on the causes of past-
due atas temuan yang lewat jatuh tempo (past due) due findings that have exceeded the due date (past
sejak tahun 2022 berdasarkan Laporan BPKP Nomor due) since 2022 based on BPKP Report No. PE0903-
PE0903-LHP48-D403/1/2024 SMI Tanggal 13 Mei 2024 LHP48-D403/1/2024 SMI dated May 13, 2024, and the
dan Laporan Audit Tahunan 2024 vide Memo Nomor 2024 Annual Audit Report as stated in Memo No.
M-006/SMI/DU/DAI/0125 Tanggal 10 Januari 2025. M-006/SMI/DU/DAI/0125 dated January 10, 2025.
10. Melakukan evaluasi atas tata kelola penyusunan 10. Conduct an evaluation of the governance of policy
kebijakan dan prosedur (Peraturan Direksi Nomor PD- and procedure development (Regulation of the
009/SMI/1124 Tentang Prosedur Penyusunan Kebijakan Board of Directors No. PD-009/SMI/1124 concerning
Perseroan) dengan memperhatikan: the Procedure for Developing Company Policies) by
a. Skor persepsi responden di level eksekutif considering the following:
yang rendah (<80%) untuk pertanyaan a. Low perception scores among respondents at
mengenai apakah sistem dan prosedur telah the executive level (<80%) regarding the question
dijabarkan dengan jelas berupa langkah kerja of whether systems and procedures have been
yang harus dilaksanakan beserta risiko dan clearly described in the form of work steps to be
pengendaliannya; implemented along with the associated risks and
controls;
b. Belum adanya standar waktu pemrosesan / SLA b. The absence of processing time standards or
(service level agreement) atau standar mutu Service Level Agreements (SLA), or other quality
lainnya untuk kegiatan / langkah / aktivitas yang standards, for activities, steps, or processes that
menjadi input pada tahapan selanjutnya atau serve as inputs for subsequent stages or are
dimanfaatkan oleh internal/external customers; utilized by internal or external customers;
c. Belum diselenggarakannya rekapitulasi informasi c. The absence of a consolidated record of
apa saja yang perlu dikinikan atau disusun pada information that needs to be updated or developed
ketentuan internal existing atau yang baru. within existing or new internal regulations. Such
Rekapitulasi informasi tersebut adalah merupakan recapitulation represents the result of monitoring
hasil pantauan Divisi Manajemen Risiko dan dapat by the Risk Management Division and may serve as
menjadi acuan dalam challenge/review session a reference in challenge/review sessions regarding
terhadap hasil self assessment oleh process and the results of self-assessments conducted by
risk owner mengenai validitas ketentuan internal process and risk owners concerning the validity
kelolaannya. Meskipun tidak terdapat batasan usia of internal governance regulations. Although there
ketentuan internal dan masih dapat dipergunakan is no age limit for internal regulations and they
selama dipandang masih valid, terdapat hal yang may continue to be used as long as they remain
perlu diperhatikan sebagai berikut: valid, several matters require attention, including:
i) Memo Nomor M-006/SMI/DU/DAI/0125 Tanggal i) Memo No. M-006/SMI/DU/DAI/0125 dated
10-Januari 2025 bahwa terdapat temuan January 10, 2025, indicating findings related to
terkait prosedur yang tidak lengkap pada incomplete procedures in fund disbursement
pengeluaran dana tahun 2024 in 2024;
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
ii) Laporan BPKP Nomor PE05.03/LGCG-16.1/ ii) BPKP Report No. PE05.03/LGCG-16.1/D403/1/2025
D403/1/2025 Tanggal 21 Maret 2025 bahwa dated March 21, 2025, indicating the need to
perlu kaji ulang prosedur tata kelola karena review governance procedures due to the
adanya POJK 16/2024, survey kepada vendor issuance of Regulation of the Financial Services
atas keterlambatan bayar dengan skor 78,68 Authority No. 16 of 2024, vendor survey results
(halaman 90 angka 2), dan survey kompensasi regarding payment delays with a score of 78.68
atas standar layanan minimal yang tak (page 90 point 2), and a compensation survey
terpenuhi dengan skor 79,62% (halaman 83 regarding unmet minimum service standards
angka 8). with a score of 79.62% (page 83 point 8).
11. Melakukan evaluasi atas skor persepsi responden 11. Conduct an evaluation of the perception score among
di level eksekutif yang hanya mencapai 85% executive-level respondents, which only reached 85%
yang menjawab Sesuai/Sangat sesuai (SS) untuk answering Appropriate/Very Appropriate (SS) for
pertanyaan mengenai apakah dalam melakukan questions regarding whether control activities include
pengendalian, terdapat pelaporan insiden risiko risk incident reporting that enables management
yang memfasilitasi manajemen dan atasan and supervisors to identify matters requiring
mengidentifikasikan hal-hal yang memerlukan corrective action and whether corrective actions
perbaikan (koreksi) dan tindakan perbaikan dilakukan are implemented appropriately. This indicates that
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secara tepat. Hal ini mengindikasikan para responden respondents (Heads of Division) perceive that risk
(Kepala Divisi) menilai pelaporan insiden risiko incident reporting is either unavailable or does not
tidak tersedia atau tidak memenuhi harapan agar meet expectations for ensuring timely corrective
tindakan perbaikan dilakukan secara tepat. Kondisi actions. This condition needs to be addressed through
tersebut perlu diatasi melalui diskusi lebih detil atau more detailed discussions or brainstorming sessions
brainstorming untuk menyelidiki ketidakpuasan ini to investigate this dissatisfaction and the form of risk
dan bentuk pelaporan insiden risiko. incident reporting required.
12. Untuk keperluan informasi komunikasi eksternal, 12. For the purpose of external communication, the
Perseroan perlu mempertimbangkan: Company should consider:
a. Pengaturan tentang detail data/informasi yang a. Establishing arrangements regarding the details
diperlukan dari/untuk pihak eksternal, baik untuk of data/information required from or for external
keperluan pengelolaan corporate image, strategi parties for the purposes of managing corporate
reputasi, manajemen kinerja dan strategis, serta image, reputation strategy, performance and
hubungan dengan external stakeholders sesuai strategic management, and relationships with
Laporan Penilaian SPI oleh BPKP (Nomor PE0903- external stakeholders, in accordance with the
LHP-48- D403/1/2024, pada halaman 28) Internal Control System Assessment Report by
BPKP (No. PE0903-LHP-48-D403/1/2024, page 28);
b. Penyusunan prosedur teknis penyusunan b. Developing technical procedures for the
laporan wajib dan komunikasi dengan regulator preparation of mandatory reports and
mengingat PT SMI adalah lembaga keuangan communication with regulators, considering
yang diawasi OJK melalui berbagai pelaporan, that PT SMI is a financial institution supervised by
sehingga memiliki risiko kepatuhan dan denda. the Financial Services Authority through various
reporting requirements and therefore faces
compliance risks and potential penalties.
Sebagai bagian dari penguatan tata kelola dan As part of strengthening governance and accountability,
akuntabilitas, Perseroan memastikan dilakukannya the Company ensures that an independent assessment
penilaian independen atas efektivitas sistem is conducted on the effectiveness of the internal control
pengendalian internal yang berdampak pada Laporan system affecting the Financial Statements as of December
Keuangan per 31 Desember 2025. Selain evaluasi oleh 31, 2025. In addition to the evaluation carried out by the
Divisi Audit Internal, Perseroan juga menunjuk Kantor Internal Audit Division, the Company also appointed a
Akuntan Publik (KAP) untuk melakukan pemeriksaan Public Accounting Firm (KAP) to conduct an independent
independen atas efektivitas pengendalian internal examination of the effectiveness of the internal control
tersebut. system.
PERNYATAAN DIREKSI DAN DEWAN STATEMENT FROM THE BOARD OF
KOMISARIS ATAS KECUKUPAN DIRECTORS AND THE BOARD OF
SISTEM PENGENDALIAN INTERNAL COMMISSIONERS ON THE ADEQUACY
OF THE INTERNAL CONTROL SYSTEM
PT SMI secara konsisten memastikan keandalan dan PT SMI consistently ensures the reliability and effectiveness
efektivitas Sistem Pengendalian Internal (SPI) melalui of the Internal Control System through structured PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
evaluasi terstruktur atas pelaporan keuangan, kepatuhan evaluations of financial reporting, regulatory compliance,
regulasi, serta efisiensi dan efektivitas operasional. and operational efficiency and effectiveness. Based
Berdasarkan hasil penilaian terbaru, Dewan Komisaris on the most recent assessment results, the Board of
dan Direksi menilai bahwa SPI Perseroan telah memadai Commissioners and the Board of Directors consider that
dan berjalan efektif, dengan beberapa area yang tetap the Company’s Internal Control System is adequate and
menjadi fokus penguatan berkelanjutan. operating effectively, with several areas remaining a
focus for continuous improvement.
Setiap temuan evaluasi ditindaklanjuti melalui Each evaluation finding is followed up through corrective
langkah korektif dan perbaikan terukur untuk menjaga measures and measurable improvements to maintain
penerapan prinsip-prinsip pengendalian internal pada the implementation of internal control principles across
seluruh komponen SPI. Dewan Komisaris dan Direksi all components of the Internal Control System. The
juga menegaskan bahwa sepanjang tahun berjalan Board of Commissioners and the Board of Directors also
tidak ditemukan kelemahan material yang berdampak confirm that during the year no material weaknesses were
signifikan terhadap efektivitas pengendalian internal identified that significantly affected the effectiveness of
maupun operasional Perseroan. the Company’s internal control or operational activities.
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Good Corporate Governance
Integritas Pelaporan melalui Pengawasan Reporting Integrity Through Effective
dan Pengendalian yang Efektif Supervision and Control
PT SMI berkomitmen memenuhi prinsip integritas PT SMI is committed to upholding the principles of
dan transparansi setiap bentuk pelaporan Perseroan, integrity and transparency in all forms of corporate
baik laporan keuangan, laporan tahunan, laporan reporting, including financial statements, annual reports,
keberlanjutan maupun pengungkapan lainnya dalam sustainability reports, as well as other disclosures, to
rangka transparansi pada stakeholders. ensure transparency to stakeholders.
Pelaporan yang disusun dilakukan secara andal, The reports prepared are reliable, consistent, and
konsisten, dan akuntabel serta diawasi dan dikaji secara accountable, and are comprehensively supervised and
komprehensif melalui penerapan sistem pengendalian reviewed through the implementation of the Company’s
internal. Sistem pengendalian internal Perseroan internal control system. The internal control system is
dirancang untuk menjaga akurasi pencatatan transaksi, designed to maintain the accuracy of transaction
memastikan kepatuhan terhadap standar akuntansi recording, ensure compliance with applicable accounting
dan regulasi yang berlaku, serta mendukung penyajian standards and regulations, and support the presentation
informasi yang relevan dan dapat dipercaya. Dalam of relevant and reliable information. Within this framework,
kerangka tersebut, Direksi dan divisi serta komite di the Board of Directors, along with the divisions and
bawahnya secara aktif berkomitmen menjaga seluruh committees under its oversight, actively ensures the
proses pelaporan mulai dari pembentukan prosedur integrity of the entire reporting process, starting from the
operasional yang jelas, sistem dokumentasi yang establishment of clear operational procedures, traceable
tertelusur, serta mekanisme pengawasan yang memadai documentation systems, and adequate supervisory
di seluruh unit kerja. mechanisms across all work units.
PT SMI juga menerapkan mekanisme assurance melalui PT SMI also implements assurance mechanisms through
fungsi audit internal serta pemeriksaan oleh auditor internal audit functions and examinations by independent
eksternal yang independen, yang tidak hanya pada external auditors, covering not only financial statement
assurance laporan keuangan melainkan juga untuk assurance but also compliance aspects, internal control
aspek kepatuhan, sistem pengendalian internal dan systems, and the implementation of social responsibility,
penyelenggaran tanggung jawab sosial yang dilakukan which are conducted annually. This process serves to
secara tahunan. Proses ini berfungsi untuk menilai assess the fairness of the presentation of financial
kewajaran penyajian laporan keuangan dan informasi statements and other related information disclosed to
terkait lainnya yang disampaikan kepada publik telah the public, ensuring that they have undergone objective
melalui proses verifikasi dan evaluasi yang objektif. Di verification and evaluation. Meanwhile, the Board of
sisi lain, Dewan Komisaris beserta komite-komite di Commissioners, together with its supporting committees,
bawahnya menjalankan fungsi pengawasan secara performs effective oversight of the Company’s reporting
efektif terhadap proses pelaporan dan pengungkapan and disclosure processes, ensuring that each published
informasi perusahaan, sehingga setiap laporan yang report reflects the Company’s performance in a
diterbitkan mencerminkan kondisi kinerja Perseroan transparent and accountable manner.
secara transparan dan akuntabel.
Melalui integrasi antara sistem pengendalian internal, Through the integration of internal control systems,
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
mekanisme assurance, serta pengawasan yang kuat, assurance mechanisms, and strong oversight, PT SMI’s
segenap pimpinan PT SMI memastikan bahwa praktik leadership ensures that corporate reporting practices
pelaporan perusahaan berjalan dengan standar integritas are carried out in accordance with high standards of
yang tinggi. Pendekatan ini tidak hanya memperkuat integrity. This approach not only strengthens the quality
kualitas dan kredibilitas informasi yang disampaikan and credibility of information delivered to stakeholders
kepada pemangku kepentingan, tetapi juga menjadi but also serves as a key foundation in building public
fondasi penting dalam membangun kepercayaan publik trust and supporting the Company’s efforts to create
serta mendukung upaya Perseroan dalam menciptakan sustainable long-term value.
nilai jangka panjang secara berkelanjutan.
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KOMITMEN TERHADAP COMMITMENT TO THE
PENERAPAN ICOFR IMPLEMENTATION OF INTERNAL
CONTROL OVER FINANCIAL
REPORTING (ICOFR)
Sebagai bagian dari komitmen Perseroan dalam As part of the Company’s commitment to implementing
menerapkan prinsip Good Corporate Governance the principles of Good Corporate Governance (GCG), the
(GCG), Perseroan telah mengimplementasikan Internal Company has implemented Internal Control over Financial
Control over Financial Reporting (ICoFR) secara terstruktur Reporting (ICoFR) in a structured and integrated manner
dan terintegrasi dalam sistem pengendalian internal. within its internal control system. The implementation
Penerapan ICoFR merupakan salah satu inisiatif strategis of ICoFR represents one of the Company’s strategic
Perseroan dalam penguatan atas prinsip transparansi, initiatives to strengthen the principles of transparency,
akuntabilitas, responsibilitas, independensi, dan accountability, responsibility, independence, and fairness
kewajaran dalam proses pelaporan keuangan. in the financial reporting process.
Inisiatif ini diwujudkan melalui pengembangan This initiative is realized through the development and
dan implementasi sistem pengendalian internal implementation of a structured, documented, integrated,
yang terstruktur, terdokumentasi, terintegrasi, dan and sustainable internal control system covering all
berkelanjutan, yang mencakup seluruh proses pelaporan material financial reporting processes. The Company
keuangan yang material. Perseroan secara konsisten consistently conducts risk identification, evaluates the
melakukan identifikasi risiko, evaluasi efektivitas effectiveness of controls, and enhances key controls
pengendalian, serta penyempurnaan atas pengendalian to mitigate the risk of material misstatement, whether
utama (key controls) guna memitigasi risiko salah saji caused by errors or potential fraud. These efforts are
material, baik yang disebabkan oleh kekeliruan (error) undertaken to ensure that the quality and credibility of
maupun potensi kecurangan (fraud). Upaya ini dilakukan financial information are maintained reliably.
untuk memastikan kualitas dan kredibilitas informasi
keuangan tetap terjaga secara andal.
Pelaksanaan ICoFR mengacu pada kerangka kerja The implementation of ICoFR refers to the Committee of
Committee of Sponsoring Organizations of the Treadway Sponsoring Organizations of the Treadway Commission
Commission (COSO) melalui Internal Control – Integrated (COSO) framework through the Internal Control –
Framework, yang mencakup lima komponen utama, Integrated Framework, which comprises five main
yaitu lingkungan pengendalian, penilaian risiko, components: control environment, risk assessment,
aktivitas pengendalian, informasi dan komunikasi, serta control activities, information and communication, and
pemantauan. Perseroan melakukan pengujian efektivitas monitoring. The Company periodically performs testing
desain dan implementasi pengendalian secara periodik on the effectiveness of the design and implementation
guna memastikan seluruh pengendalian berjalan secara of controls to ensure that all controls operate adequately
memadai dan konsisten. and consistently.
Melalui penerapan ICoFR yang berkelanjutan, PT SMI Through the continuous implementation of ICoFR, PT SMI
tidak hanya memenuhi ketentuan regulasi yang berlaku, not only complies with applicable regulatory requirements
tetapi juga memperkuat budaya kepatuhan, integritas, but also strengthens the culture of compliance, PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
dan akuntabilitas laporan keuangan. Implementasi ini integrity, and accountability in financial reporting. This
turut mendukung keberlanjutan kinerja dan tata kelola implementation also supports the sustainability of
Perseroan, sekaligus meningkatkan kepercayaan para the Company’s performance and governance, while
pemangku kepentingan terhadap kualitas dan kredibilitas enhancing stakeholders’ trust in the quality and credibility
informasi keuangan Perseroan. of the Company’s financial information.
675
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05 Tata Kelola Perusahaan
Good Corporate Governance
MANAJEMEN RISIKO
RISK MANAGEMENT
Sebagai institusi yang berorientasi pada ketahanan As an institution oriented toward resilience and sustainable
dan pertumbuhan berkelanjutan, Perseroan menjadikan growth, the Company places risk management as a
manajemen risiko sebagai komponen strategis strategic component in its business management. The
dalam pengelolaan bisnis. Kerangka manajemen risk management framework is implemented to ensure
risiko diterapkan untuk memastikan setiap keputusan that every operational and investment decision is
operasional dan investasi memiliki dasar pengukuran supported by a strong risk assessment basis, adequate
risiko yang kuat, dukungan kecukupan modal, serta capital support, and sufficient mitigation capacity against
kemampuan mitigasi yang memadai terhadap potensi potential disruptions and market volatility. Through this
gangguan maupun volatilitas pasar. Dengan pendekatan approach, the Company not only safeguards value but
ini, Perseroan tidak hanya melindungi nilai, tetapi juga also optimizes opportunities that are aligned with its
mengoptimalkan peluang yang selaras dengan tujuan long-term objectives.
jangka panjang.
Melalui disiplin pengelolaan risiko yang konsisten, Through consistent risk management discipline, the
Perseroan memperkuat kemampuan seluruh unit kerja Company strengthens the capability of all work units to
dalam mengevaluasi risk and return, meningkatkan evaluate risk and return, improve the quality of risk-taking
kualitas proses pengambilan risiko, dan menjaga struktur processes, and maintain a healthy portfolio structure. This
portofolio tetap sehat. Implementasi ini dilaksanakan implementation is carried out with reference to various
dengan merujuk pada berbagai ketentuan regulator dan relevant regulatory provisions and internal standards,
standar internal yang relevan, antara lain: including:
1. Peraturan Otoritas Jasa Keuangan Republik Indonesia 1. Regulation of Financial Services Authority of the
No. 16 tahun 2024 (POJK 16/2024) tentang Pengawasan Republic of Indonesia No. 16 of 2024 (POJK 16/2024)
PT Sarana Multi Infrastruktur (Persero) yang concerning the Supervision of PT Sarana Multi
diundangkan pada 15 Oktober 2024 dan berlaku pada Infrastruktur (Persero), which was promulgated on
tanggal diundangkan. POJK 16/2024 menggantikan October 15, 2024, and became effective on the date
Peraturan Otoritas Jasa Keuangan Republik Indonesia of its promulgation. POJK 16/2024 replaces Regulation
No. 46/POJK.05/2020 (POJK 46/2020) tentang of Financial Services Authority of the Republic of
Perusahaan Pembiayaan Infrastruktur; Indonesia No. 46/POJK.05/2020 (POJK 46/2020)
concerning Infrastructure Financing Companies;
2. Peraturan Otoritas Jasa Keuangan Republik Indonesia 2. Regulation of the Financial Services Authority of the
No. 42 tahun 2024 (POJK 42/2024) tentang Penerapan Republic of Indonesia No. 42 of 2024 (POJK 42/2024)
Manajemen Risiko bagi Lembaga Pembiayaan, concerning the Implementation of Risk Management
Perusahaan Modal Ventura, Lembaga Keuangan for Financing Institutions, Venture Capital Companies,
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Mikro, dan Lembaga Jasa Keuangan Lainnya Microfinance Institutions, and Other Financial Services
yang diundangkan pada 21 Desember 2024 dan Institutions, promulgated on December 21, 2024, and
berlaku pada tanggal diundangkan. POJK 42/2024 effective on the date of promulgation. POJK 42/2024
menggantikan Peraturan Otoritas Jasa Keuangan replaces Regulation of the Financial Services Authority
Republik Indonesia No. 44/POJK.05/2020 (POJK of the Republic of Indonesia No. 44/POJK.05/2020
44/2020) tentang Penerapan Manajemen Risiko Bagi (POJK 44/2020) concerning the Implementation of
Lembaga Jasa Keuangan NonBank; Risk Management for Non-Bank Financial Services
Institutions;
3. Surat Edaran Otoritas Jasa Keuangan Republik 3. Circular Letter of the Financial Services Authority
Indonesia No. 27/SEOJK.05/2021 (SEOJK 27/2021) of the Republic of Indonesia No. 27/SEOJK.05/2021
tentang Penilaian Tingkat Kesehatan Perusahaan (SEOJK 27/2021) concerning Assessment of the
Pembiayaan Infrastruktur, dimana penilaian Tingkat Health/Soundness Level of Infrastructure Financing
Kesehatan yang dimaksud dilakukan dengan cakupan Companies, which the assessment of the Health
penilaian terhadap Tata Kelola Perusahaan yang Baik, Level is carried out with the scope of assessing Good
Profil Risiko, Rentabilitas, dan Permodalan. Corporate Governance, Risk Profile, Profitability, and
Capital.
676
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4. Peraturan Anggota Dewan Komisioner Otoritas Jasa 4. Regulation of the Members of the Board of
Keuangan (PADK OJK) Nomor 48/PADK.06/2025 Commissioners of the Financial Services Authority
tentang Penerapan Manajemen Risiko bagi Lembaga (PADK OJK) No. 48/PADK.06/2025 concerning the
Pembiayaan, Perusahaan Modal Ventura, Lembaga Implementation of Risk Management for Financing
Keuangan Mikro, dan Lembaga Jasa Keuangan Institutions, Venture Capital Companies, Microfinance
Lainnya (PADK OJK 48/2025). Institutions, and Other Financial Services Institutions
(PADK OJK 48/2025).
Dalam menjalankan kegiatan usaha, Perseroan In conducting its business activities, the Company
mengimplementasikan Manajemen Risiko sesuai implements Risk Management in accordance with
ketentuan POJK 16/2024, POJK 42/2024, SEOJK 27/2021 the provisions of POJK 16/2024, POJK 42/2024, SEOJK
dan PADK OJK 48/2022. Penerapan ini mencakup 8 27/2021 and PADK OJK 48/2022. This implementation
(delapan) kategori risiko utama, yakni Risiko Kredit, Risiko covers 8 (eight) main risk categories, namely Credit Risk,
Operasional, Risiko Pasar, Risiko Likuiditas, Risiko Hukum, Operational Risk, Market Risk, Liquidity Risk, Legal Risk,
Risiko Strategis, Risiko Kepatuhan, dan Risiko Reputasi. Strategic Risk, Compliance Risk, and Reputational Risk. In
Selain itu, Perseroan juga melakukan pengelolaan Risiko addition, the Company also manages Equity Investment
Penyertaan Modal, Risiko Syariah, serta Risiko Lingkungan Risk, Sharia Risk, and Environmental and Social Risk (ESS),
dan Sosial (ESS) yang menjadi bagian integral dari which form an integral part of the framework.
kerangka tersebut.
Perseroan memandang kesadaran risiko sebagai fondasi The Company views risk awareness as an important
penting dalam menghadapi dinamika usaha dan foundation in responding to business dynamics and
memastikan pertumbuhan yang sehat dan berkelanjutan. ensuring healthy and sustainable growth. Therefore, risk
Karena itu, manajemen risiko diintegrasikan ke seluruh management is integrated into all business processes
proses bisnis untuk memperkuat pemahaman dan to strengthen the understanding and discipline of every
kedisiplinan setiap karyawan dalam menerapkan prinsip employee in applying risk awareness principles in every
risk awareness pada setiap pengambilan keputusan. decision-making process.
Efektivitas manajemen risiko dijalankan melalui kebijakan, The effectiveness of risk management is implemented
prosedur, serta penetapan limit risiko yang selaras through policies, procedures, and the establishment of risk
dengan visi, misi, strategi, dan proses bisnis Perseroan. limits that are aligned with the Company’s vision, mission,
Penyusunan kerangka tersebut mempertimbangkan strategy, and business processes. The development
jenis dan kompleksitas kegiatan usaha, profil risiko, risk of this framework considers the type and complexity
appetite, risk tolerance, keterkaitan antar risiko, serta of business activities, the risk profile, risk appetite, risk
ketentuan regulator. tolerance, interrelationships among risks, as well as
regulatory provisions.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
677
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05 Tata Kelola Perusahaan
Good Corporate Governance
Adapun kebijakan manajemen risiko yang diterapkan The risk management policies implemented by the
Perseroan adalah sebagai berikut: Company are as follows:
Board Manual
Kelompok Kebijakan Bisnis Kelompok Kebijakan Dukungan Kelompok Kebijakan Pengendalian
Business Policy Group Support Policy Group Control Policy Group
I. Kebijakan Umum Penyediaan I. Kebijakan Umum Pengelolaan Dana I. Piagam Audit
Pembiayaan General Fund Management Policy Audit Charter
General Policy on Providing Financing
1. Kebijakan terkait Pembiayaan 1. Kebijakan terkait Pengelolaan 1. Kebijakan terkait Pengendalian Internal
Policies related to Financing Keuangan Policies related to Internal Control
2. Kebijakan terkait penyertaan modal Policies related to Financial 2. Kebijakan terkait Sistem Pelanggaran
Policies related to capital participation Management (Whistleblowing System);
3. Kebijakan terkait Pembiayaan Syariah Policies related to Whistleblowing
Policies related to Sharia Financing System
3. Kebijakan terkait Pengendalian Tindak
Kecurangan (Anti-Fraud);
Policies related to Fraud Control (Anti-
Fraud)
4. Kebijakan terkait Audit Internal
Policies related to Internal Audit
II. Kebijakan Umum Pengembangan II. Kebijakan Umum Hukum, Kepatuhan, II. Kebijakan Umum Manajemen Risiko
Proyek dan Jasa Konsultasi APU PPT dan PPPSPM General Risk Management Policy
General Project Development and General Legal Affairs, Compliance,
Consulting Services Policy Anti Money Laundering and
Combating the Financing of Terrorism
(AML-CFT), and Weapons of Mass
Destruction Financing Prevention
Policy (FPWMD) Policies
1. Kebijakan terkait Jasa Konsultasi 1. Kebijakan terkait Manajemen Risiko;
Policies related to Consulting Services Policies related to Risk Management;
1. Kebijakan terkait Hukum
2. Kebijakan terkait Pengembangan 2. Kebijakan terkait Perlindungan
Policies related to Legal Affairs
Proyek Lingkungan dan Sosial;
2. Kebijakan terkait Pengendalian
Policies related to Project Development Policies related to Environmental and
Gratifikasi dan Manajemen Anti
Social Protection;
Penyuapan
3. Kebijakan terkait Penyusunan
Policies related to Gratification Control
Kebijakan Perseroan;
and Anti-Bribery Management
Policies related to the preparation of
3. Kebijakan terkait Kepatuhan dan APU,
company policies;
PPT & PPPSPM
4. Kebijakan terkait Kerangka Kerja Risk
Policies related to Compliance and
Appetite
AML, CFT & FPWMD
Policies related to the Risk Appetite
Framework
III. Kebijakan Umum Operasional
General Operational Policy
1. Kebijakan terkait Perencanaan Korporasi
Policies related to Corporate Planning
2. Kebijakan terkait Akuntansi dan Anggaran;
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Policies related to Accounting and
Budgeting;
3. Kebijakan terkait Pengelolaan Sumber
Daya Manusia;
Policies related to Human Capital
Management;
4. Kebijakan terkait Pengadaan Barang/
Jasa;
Policies related to Procurement of Goods/
Services;
5. Kebijakan terkait Kesekretariatan
Perusahaan;
Policies related to Corporate Secretariat;
6. Kebijakan terkait Dukungan Umum;
Policies related to General Support;
7. Kebijakan terkait Teknologi dan Sistem
Informasi;
Policies related to Technology and
Information Systems
8. Kebijakan terkait Pengelolaan Aset Tetap,
Aset Tidak Berwujud dan Barang Inventaris
Policy related to the Management of Fixed
Assets, Intangible Assets, and Inventory
Items
678 GCG i-Sprint Code of Conduct
Page 409
KERANGKA PENERAPAN RISK MANAGEMENT
MANAJEMEN RISIKO IMPLEMENTATION FRAMEWORK
Perseroan mengelola risiko melalui kerangka Enterprise The Company manages risk through an Enterprise
Risk Management (ERM) yang diterapkan sesuai Risk Management (ERM) framework implemented in
Kebijakan Umum Manajemen Risiko. Pendekatan ini accordance with the General Risk Management Policy.
bersifat menyeluruh dan terintegrasi, mencakup seluruh This approach is comprehensive and integrated, covering
kategori risiko perusahaan. Dengan ERM, Perseroan all categories of the Company’s risks. Through ERM, the
dapat secara proaktif mengidentifikasi, menilai, dan Company is able to proactively identify, assess, and
mengendalikan risiko, sekaligus memastikan pencapaian control risks, while ensuring the achievement of strategic
tujuan strategis dan maksimalisasi nilai Perseroan. objectives and the maximization of the Company’s value.
Visi dan Misi Manajemen Risiko
Risk Management Vision and Mission
Strategi Manajemen Risiko
Risk Management Strategy
Kecukupan
proses Identifikasi
Kecukupan
Pengukuran,
Pengawasan Aktif Kebijakan
Pengendalian,
Direksi, Dewan dan Prosedur
Visi, Misi, Rencana, dan Pemantauan
Komisaris, dan Manajemen Risiko Sistem Produk dan
dan Strategi Bisnis Risiko, serta
Dewan Pengawas serta Penetapan Pengendalian Aktivitas
Perseroan Sistem Informasi
Syariah Unti Risiko Internal yang Perseroan
Vision, Mission, Manajemen Risiko
Active Supervision Adequacy of Risk Menyeluruh Products and
Plan, and Business Adequacy of Risk
for the Board of Management Comprehensive Company Activities
Strategy Company Identification,
Directors, Board of Policies and Internal Control
Measurement,
Commissioners, Procedures System
Control, and
and Sharia and Risk Limit
Monitoring
Supervisory Board Determination
Processes, and
Supervisory Board
Risk Management,
Information System
Prinsip Utama Manajemen Risiko
Key Principles of Risk Management
Budaya Manajemen Risiko
Risk Management Culture
Kerangka penerapan Manajemen Risiko di Perseroan The framework for implementing Risk Management in
dijabarkan sebagai berikut: the Company can be explained as follows:
1. Pengawasan Aktif Direksi, Dewan Komisaris, dan 1. Active supervision of the Board of Directors, Board PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Dewan Pengawas Syariah of Commissioners and Sharia Supervisory Board
Direksi mempunyai wewenang dan tanggung jawab The Board of Directors holds the authority and
menyusun Kebijakan Umum Manajemen Risiko responsibility to formulate both the General
dan strategi Manajemen Risiko secara tertulis dan Risk Management Policy and Risk Management
komprehensif, bertanggung jawab atas pelaksanaan strategies in a written and comprehensive manner,
Kebijakan Umum Manajemen Risiko dan eksposur responsible for the implementation of the General Risk
Risiko yang diambil oleh Perseroan secara keseluruhan, Management Policy and managing the company's
mengevaluasi dan memutuskan transaksi dan overall risk exposure. Furthermore, they evaluate and
limit Risiko, mengembangkan budaya Manajemen decide upon transactions and risk limits, foster a culture
Risiko pada seluruh jenjang organisasi Perseroan, of Risk Management throughout the organization,
memastikan peningkatan kompetensi sumber ensure the enhancement of competencies in human
daya manusia yang terkait dengan Manajemen capital related to Risk Management, and confirm
Risiko, memastikan bahwa satuan kerja dengan that units with Risk Management functions operate
fungsi Manajemen Risiko telah beroperasi secara independently and perform regular risk management
independen dan melaksanakan kaji ulang secara reviews.
berkala atas pengelolaan risiko yang dilakukan.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Dewan Komisaris mempunyai wewenang dan The Board of Commissioners has the authority and
tanggung jawab menyetujui dan mengevaluasi responsibility for approving and reviewing the General
Kebijakan Umum Manajemen Risiko, mengevaluasi Risk Management Policy, assessing the Board of
pertanggungjawaban Direksi atas pelaksanaan Directors' adherence to the implementation of this
Kebijakan Umum Manajemen Risiko, dan policy, and making decisions on requests from the
mengevaluasi dan memutuskan permohonan Direksi Board of Directors regarding transactions and risk
yang berkaitan dengan transaksi dan limit risiko yang limits requiring the Board of Commissioners' approval.
memerlukan persetujuan Dewan Komisaris.
Adapun Dewan Pengawas Syariah mempunyai The Sharia Supervisory Board has the authority and
wewenang dan tanggung jawab mengevaluasi responsibility to review the General Risk Management
Kebijakan Umum Manajemen Risiko dan mengevaluasi Policy and assess the Board of Directors' execution of
pertanggungjawaban Direksi atas pelaksanaan the policy in terms of adherence to Sharia principles.
Kebijakan Umum Manajemen Risiko yang terkait Active supervision is also facilitated through the
dengan pemenuhan prinsip syariah. Pengawasan establishment of committees under the Board of
aktif dapat juga dilakukan melalui pembentukan Commissioners and the Board of Directors.
komite-komite di bawah Dewan Komisaris dan
komite-komite di bawah Direksi.
2. Kecukupan Kebijakan dan Prosedur Manajemen 2. Adequacy of Risk Management Policies and
Risiko serta Penetapan Limit Risiko Procedures and Determination of Risk Limits
Perseroan memiliki perangkat tata kelola kebijakan The Company possesses a governance structure
dalam memastikan risiko di setiap kegiatan usaha to ensure that risks in each business activity are
dikelola dengan efektif dan efisien. Penyempurnaan effectively and efficiently managed. Refinement
kebijakan diperlukan untuk mengakomodir kebutuhan of policies is necessary to accommodate internal
pengaturan internal guna mendukung perkembangan regulatory needs to support the rapid and complex
aktivitas bisnis maupun operasional Perseroan yang evolution of the Company's business and operational
semakin pesat dan kompleks. Arsitektur kebijakan activities. The Company’s current policy architecture
Perseroan saat ini tergambar pada bagan berikut is depicted in the following chart, featuring a General
ini, dimana terdapat level Kebijakan Umum yang Policy level designed to reinforce the active supervisory
bertujuan untuk memperkuat bentuk pengawasan role of the Board of Commissioners in the policy
aktif Dewan Komisaris dalam proses penetapan formulation process:
Kebijakan:
Kebijakan Umum
• Bersifat strategis dan jangka Panjang
• Antara lain mengatur prinsip/filosofi,
pengelolaan, pokok kebijakan, dan organisasi
• Termasuk Guiding Principles yang menjabarkan
nilai dasar Perseroan antara lain GCG, Code of
Mandatory
Conduct dan Value (i-Sprint)
General Policy Kebijakan
• Strategic and long term
• Regulates, among others, principle/philosophy,
Umum
General Policy
risk management, policy cores, and organization
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
• Including Guiding Principles that describes the
fundamental values of the Company, including
GCG, Code of Conduct, and values (i-Sprint)
Prosedur
• Penjabaran kebijakan umum
• Antara lain menjabarkan ketentuan dan
tahapan umum suatu aktivitas, organisasi dan
kewenangan, serta ketentuan pelaksanaan Mandatory Prosedur
lainnya Procedure
Procedures
• Elaboration of the general policy
• Describes, among others, the provision and
general stages of and activity, organization and
authority, and other implementing provisions
Petunjuk Teknis
• Dapat disusun jika diperlukan untuk menjelaskan
lebih lanjut atas ketentuan Prosedur
• Menjelaskan mengenai rincian tahapan dan Petunjuk Teknis
Non-
ketentuan tuntutan Prosedur
Mandatory (Intra dan Lintas
Technical Guideline
Divisi)
• Can be Developed if needed to further explain
Technical Guideline (Intra-
provisions in the procedure
Divisional)
• Explains the detailed stages and implementing
provisions of the Procedure
680
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Secara berkala dan berkelanjutan, Perseroan The Company regularly and continuously reviews
melakukan pengembangan dan evaluasi terhadap and updates its established policies to enhance risk
kebijakan yang telah ditetapkan dengan tujuan untuk management implementation. In addition to policy
penyempurnaan penerapan manajemen risiko. Selain evaluation, the Company also sets and periodically
kebijakan, Perseroan juga akan menetapkan dan terus reassesses its risk limits, risk appetite, and risk
mengevaluasi kebijakan limit risiko, risk appetite, dan tolerance to minimize the Company’s acceptable
risk tolerance yang berlaku untuk membatasi risiko risks, to establish clear risk boundaries and risk control
yang dapat diterima oleh Perseroan, menetapkan to prevent potential losses to the Company.
batasan risiko dan pengendalian risiko dengan
harapan tidak menimbulkan kerugian bagi Perseroan.
3. Kecukupan Proses Identifikasi, Pengukuran, 3. Adequacy of Risk Identification, Measurement,
Pengendalian, dan Pemantauan Risiko, serta Sistem Control and Monitoring Processes, as well as Risk
Informasi Manajemen Risiko Management Information System
Proses manajemen risiko Perseroan mulai dari The Company’s risk management process covers the
proses identifikasi (identification), pengukuran stages of risk identification, measurement, monitoring,
(measurement), pemantauan (monitoring), dan and control for all types of risks managed by the
pengendalian (controlling) risiko terhadap seluruh Company within the Enterprise Risk Management
jenis-jenis risiko yang dikelola oleh Perseroan framework across the Company’s products and
dalam kerangka Enterprise Risk Management pada activities. The implementation of the risk management
produk dan aktivitas Perseroan. Pelaksanaan proses process must be supported by an adequate and
manajemen risiko tersebut wajib didukung oleh Sistem timely Risk Management Information System, as well
Informasi Manajemen Risiko yang memadai dan as accurate and informative reports regarding the
tepat waktu, serta laporan yang akurat dan informatif Company’s financial condition, the performance of
mengenai kondisi keuangan Perseroan, kinerja functional activities, and the Company’s risk exposure.
aktivitas fungsional, dan eksposur risiko (risk exposure) Currently, the Company has several Risk Management
Perseroan. Perseroan saat ini memiliki beberapa Information System tools, including the Financing
perangkat Sistem Informasi Manajemen Risiko Early Warning System (EWS) Application, Rating
diantaranya Aplikasi Early Warning System (EWS) Applications and Tools (Corporate Financing, Project
Pembiayaan, Aplikasi dan Tools Rating (Corporate Financing, Municipal Financing, and Public Financing),
Financing, Project Financing, Municipal Financing, dan the Allowance for Impairment Loss Calculation
Public Financing), Aplikasi Perhitungan Cadangan Application (CKPN) in accordance with PSAK 71, the
Kerugian Penurunan Nilai (CKPN) sesuai PSAK 71, Operational Risk Management Application (RDMS),
Aplikasi Manajemen Risiko Operasional (RDMS), dan and the Environmental and Social Rating Application
Aplikasi Environmental and Social Rating (E&S Rating). (E&S Rating).
4. Sistem Pengendalian Internal yang menyeluruh 4. Comprehensive Internal Control System
Perseroan melaksanakan sistem pengendalian The Company implements an effective internal control
internal secara efektif terhadap risiko yang melekat system over risks inherent in the implementation of
dalam pelaksanaan kegiatan usaha pada seluruh business activities at all organizational levels of the
jenjang organisasi Perseroan agar paling sedikit Company, to at least enable the timely detection of
mampu secara tepat waktu mendeteksi kelemahan weaknesses and irregularities that cause or affect PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
dan penyimpangan yang menyebabkan atau risk exposure.
mempengaruhi eksposur Risiko.
Penerapan sistem pengendalian internal dilakukan The implementation of the internal control system
dengan tujuan untuk memastikan: kepatuhan aims to ensure: the compliance of management and
manajemen dan seluruh insan Perseroan terhadap all Company personnel with Risk Management policies
kebijakan dan prosedur Manajemen Risiko, peraturan and procedures, applicable laws and regulations,
perundang-undangan, serta Kebijakan Perseroan; and the Company’s policies; compliance with and
Kepatuhan dan efektivitas fungsi Manajemen Risiko effectiveness of the Risk Management function in
dalam merancang dan menerapkan strategi dan designing and implementing risk management
kebijakan Manajemen Risiko; Tersedianya informasi strategies and policies; the availability of complete,
keuangan dan manajemen yang lengkap, akurat, accurate, relevant, and timely financial and
tepat guna, dan tepat waktu; Efektivitas dan efisiensi management information; effectiveness and
dalam kegiatan bisnis dan operasional; dan Efektivitas efficiency in business and operational activities; and
budaya Risiko (risk culture) pada organisasi Perseroan the effectiveness of the risk culture throughout the
secara menyeluruh. Company’s organization.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Pengendalian Internal diawali dari upaya yang bersifat Internal control begins with preventive efforts at the
pencegahan sedini mungkin atas terjadinya hal-hal yang earliest possible stage to avoid occurrences that may
dapat merugikan Perseroan dalam kegiatan usaha atau harm the Company in its business activities or lead to
timbulnya praktek yang tidak sehat berdasarkan prinsip unhealthy practices, based on the prudential principle,
kehati-hatian dan diharapkan mampu mendeteksi and is expected to be able to detect weaknesses and
kelemahan dan penyimpangan yang terjadi secara irregularities in a timely manner.
tepat waktu.
ORGANISASI MANAJEMEN RISIKO RISK MANAGEMENT ORGANIZATION
Organisasi Manajemen Risiko dibentuk untuk The Risk Management Organization is established to
memfasilitasi penerapan manajemen risiko di seluruh lini facilitate the implementation of risk management
Perseroan sekaligus mendukung penerapan tata kelola across all lines of the Company while supporting the
risiko (risk governance) yang baik. Kehadiran organisasi implementation of sound risk governance. The presence
ini diharapkan dapat memperkuat budaya risiko (risk of this organization is expected to strengthen the risk
culture) dan budaya kepatuhan (compliance culture) di culture and compliance culture throughout the Company.
seluruh Perseroan. Kerangka kerja Organisasi Manajemen The framework of the Risk Management Organization
Risiko mencakup: includes:
1. Pengawasan aktif dari Direksi, Dewan Komisaris, dan 1. Active supervision from the Board of Directors, Board
Dewan Pengawas Syariah (DPS); of Commissioners and Sharia Supervisory Board;
2. Pembentukan komite-komite dibawah Dewan 2. Establishment of committees under the Board of
Komisaris dan komite-komite dibawah Direksi; dan Commissioners and committees under the Board
of Directors; and
3. Penerapan pertahanan tiga lapis ( three lines 3. Implementation of the three lines of defense in
of defense) dalam pembentukan satuan kerja the establishment of work units related to risk
terkait pengelolaan Risiko, yaitu satuan kerja yang management, namely the work units performing the
menjalankan fungsi risk taking (business/operation risk-taking function (business/operation divisions) as
division) sebagai risk taker/risk owner (selanjutnya risk takers/risk owners (hereinafter referred to as Risk-
disebut Risk Taking Division), satuan kerja dengan Taking Divisions), as well as the work units performing
fungsi Manajemen Risiko, fungsi kepatuhan the Risk Management function, the Compliance
(compliance), dan fungsi audit internal. function, and the Internal Audit function.
Rincian Pelatihan Organisasi Manajemen Details of the Organizational Risk
Risiko Management Training
Dalam menghadapi perkembangan industri dan In responding to industry developments and dynamic
tantangan ekonomi yang dinamis, Perseroan mendorong economic challenges, the Company promotes the
peningkatan kompetensi personel manajemen risiko competency development of risk management personnel
melalui pelatihan dan sertifikasi. Rincian program through training and certification. The details of the
pengembangan kompetensi sepanjang tahun 2025 competency development programs throughout 2025
adalah sebagai berikut: are as follows:
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Jenis Jumlah
Topik Pelatihan Tanggal Pelatihan Peserta Penyelenggara
No. Date Type of Number of Organizer
Topic of Training
Training Participants
Big Picture Thinking for Financial Risk
1 20/06/2025 E-learning 20 LINKEDIN LEARNING
Analysis
Certified Risk Management
2 03/02/2025 Public Training 9 PT RAP Indonesia
Professional (CRMP)
3 Emerging Financial Risk Management 16/07/2025 E-learning 1 LINKEDIN LEARNING
Finance Foundations: Risk
4 10/11/2025 E-learning 7 LINKEDIN LEARNING
Management
GRC Risk Beyond International
Conference 2025: "Risk Odysey -
5 04/12/2025 Public Training 4 CRMS - ERMA
Engineering Momentum, Building a
Resillient Risk DNA"
Identify and Mitigate Legal Risks in
6 09/12/2025 E-learning 1 LINKEDIN LEARNING
Business
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Jenis Jumlah
Topik Pelatihan Tanggal Pelatihan Peserta Penyelenggara
No. Date Type of Number of Organizer
Topic of Training
Training Participants
Inaugurasi Gelar Certified Risk
Management (CRM) dan Program
Pemeliharaan Sertifikasi Manajemen
Risiko J7
7 02/09/2025 Public Training 5 IRPA
Inauguration of the Certified Risk
Management (CRM) Title and the
Risk Management Certification
Maintenance Program J7
8 Introduction to Risk Management 19/08/2025 E-learning 1 LINKEDIN LEARNING
Mini Workshop Mitigasi Bencana
Gempa Megathrust Knowledge
9 12/08/2025 116 SMI Eksternal
Mini Workshop on Megathrust Sharing
Earthquake Disaster Mitigation
Nano Tips for Building a Culture of
10 16/09/2025 E-learning 2 LINKEDIN LEARNING
Calculated Risks with Lisa Bodell
11 National Anti-Fraud Conference 2025 25/06/2025 Public Training 3 ACFE Indonesia
12 Operational Risk Management 01/12/2025 Public Training 1 LPC Training
Pengelolaan Manajemen Risiko
13 23/12/2025 E-learning 1 INTERNAL COURSES
Operational Risk Management
Refreshment BSMR Jenjang 5
14 30/04/2025 Public Training 12 Garda Multi Talenta
Refreshment to BSMR Level 5
Refreshment BSMR Jenjang 6
15 11/02/2025 Public Training 1 Garda Multi Talenta
Refreshment to BSMR Level 6
Refreshment Certified Risk
Management Professional (CRMP)
16 Refreshment ot Certified Risk 03/02/2025 Public Training 1 PT RAP Indonesia
Management Professional (CRMP)
Refresher
Risiko Kredit & Penyertaan Modal
17 29/12/2025 E-learning 1 INTERNAL COURSES
Credit Risk and Equity Investment
Risk Governance Masterclass - GRC
Risk Beyond 2025: "Risk Odysey -
18 03/12/2025 Public Training 1 CRMS - ERMA
Engineering Momentum, Building a
Resillient Risk DNA"
19 Risk Maturity Index 23/06/2025 Public Training 5 CRMS
Safety Training Hydrogen Sulfide PT. Satria Yudha
20 15/01/2025 Public Training 5
(H2S) Pratama
Sertifikasi BSMR Jenjang 6
21 26/05/2025 Public Training 1 Garda Multi Talenta
BSMR Certification Level 6
Sertifikasi BSMR Jenjang 7
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
22 28/11/2025 Public Training 1 Garda Multi Talenta
BSMR Certification Level 7
Sertifikasi Business Continuity
Management Certified Professional
(BCMCP)
23 21/04/2025 Public Training 2 PT RAP Indonesia
Business Continuity Management
Certified Professional (BCMCP)
Certification
Sertifikasi dan Resertifikasi BSMR
Jenjang 4
24 28/04/2025 Inhouse Training 22 Garda Multi Talenta
BSMR Certification and Recertification
Level 4
Sertifikasi dan Resertifikasi BSMR
Jenjang 4
25 14/07/2025 Public Training 3 Garda Multi Talenta
BSMR Certification and Recertification
Level 4
Sertifikasi dan Resertifikasi BSMR
Jenjang 5
26 06/05/2025 Public Training 12 Garda Multi Talenta
BSMR Certification and Recertification
Level 4
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05 Tata Kelola Perusahaan
Good Corporate Governance
Jenis Jumlah
Topik Pelatihan Tanggal Pelatihan Peserta Penyelenggara
No. Date Type of Number of Organizer
Topic of Training
Training Participants
Training & Sertifikasi H2S (Hydrogen
Sulphide) Control Measure PT Adhikriya Kualita
27 09/08/2025 Inhouse Training 2
Training & Certification of H2S Utama
(Hydrogen Sulphide) Control Measure
Training & Sertifikasi ISO 45001:2018
Occupational Health and Safety
Management Systems Auditor / Lead
Auditor Training Course – CQI/IRCA
Registered
28 25/08/2025 Public Training 1 PT SGS Academy
Training & Certification ISO 45001:2018
Occupational Health and Safety
Management Systems Auditor / Lead
Auditor Training Course – CQI/IRCA
Registered
29 Unit Risk & Compliance Manager 13/01/2025 Inhouse Training 62 SMI Eksternal
Workshop Pencegahan dan
Penanganan Bencana Kebakaran Knowledge
30 13/10/2025 55 SMI Eksternal
Workshop on Fire Disaster Prevention Sharing
and Response
31 Workshop Risk Maturity Index (RMI) 06/10/2025 Inhouse Training 39 PwC
Worskhop Pendalaman Aspek Risiko
& Penerapan BJR Pada Aktivitas
Penyertaan Modal di PT SMI
32 26/11/2025 Inhouse Training 31 Internal (DPM)
Workshop on In-Depth Risk Aspects
and Implementation of BJR in Equity
Investment Activities at PT SMI
INFORMASI THREE LINES OF DEFENSE INFORMATION ON THE THREE
LINES OF DEFENSE
PT SMI memandang manajemen risiko sebagai PT SMI views risk management as a key element in
elemen kunci untuk menjaga stabilitas dan efektivitas maintaining the stability and effectiveness of the
operasional Perseroan. Melalui sistem yang terstruktur, Company’s operations. Through a structured system,
Perseroan mampu mendeteksi potensi kelemahan dan the Company can detect potential weaknesses and
penyimpangan yang dapat meningkatkan eksposur irregularities that may increase risk exposure. To
risiko. Untuk memperkuat pengendalian internal, PT strengthen internal control, PT SMI consistently implements
SMI secara konsisten mengimplementasikan kerangka the Three Lines of Defense framework, ensuring that each
Three Lines of Defense, memastikan setiap lini bertugas line performs its role clearly and in an integrated manner.
secara jelas dan terintegrasi. Rincian masing-masing lini The details of each line of defense within the Company
pertahanan Perseroan adalah sebagai berikut: are as follows:
1. Lini Pertahanan Pertama (First Line of Defense) 1. First Line of Defense
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Satuan kerja dengan fungsi risk taking (risk taking The work unit with the risk-taking function (risk-
division) berperan sebagai lini pertahanan pertama taking division) acts as the first line of defense and
dan bertanggung jawab untuk melaksanakan kegiatan is responsible for carrying out the Company's business
usaha Perseroan dan melakukan pengawasan activities and carrying out inherent supervision of:
melekat terhadap: Penerapan Manajemen Risiko pada Implementation of Risk Management in each work unit,
satuan kerja masing-masing, termasuk kebijakan including Risk Management policies and procedures,
dan prosedur Manajemen Risiko, serta kepatuhan as well as compliance with applicable Risk limits;
terhadap limit Risiko yang berlaku; Pelaksanaan Implementation of the Risk Management process,
proses Manajemen Risiko, yaitu melakukan identifikasi namely identifying risks, measuring risks, monitoring
Risiko, pengukuran Risiko, pemantauan Risiko, dan risks and controlling risks in each work unit; and
pengendalian Risiko pada satuan kerja masing- Management of risk exposure to business activities
masing; dan Pengelolaan eksposur Risiko kegiatan in each work unit.
usaha pada satuan kerja masing-masing.
2. Lini Pertahanan Kedua (Second Line of Defense) 2. Second Line of Defense
Satuan kerja dengan fungsi Manajemen Risiko dan The work unit with Risk Management functions
fungsi compliance sebagai satuan kerja utama and compliance functions as the main work unit in
dalam penerapan lini pertahanan kedua melalui implementing the second line of defense through
fungsi kajian dan pemantauan yang independen independent review and monitoring functions to:
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untuk: Memastikan penerapan Manajemen Risiko Ensure the implementation of Risk Management
di Perseroan sesuai Kebijakan Umum Manajemen in the Company in accordance with the General
Risiko, termasuk memastikan penerapan kebijakan Risk Management Policy, including ensuring the
dan prosedur Manajemen Risiko, serta memastikan implementation of Risk Management policies
kepatuhan terhadap limit Risiko yang berlaku; dan and procedures, as well as ensuring compliance
Memastikan penerapan proses Manajemen Risiko with applicable Risk limits; and Ensure that the
di Perseroan telah berjalan dengan baik sesuai implementation of the Risk Management process in
Kebijakan Umum Manajemen Risiko. the Company is running well in accordance with the
General Risk Management Policy.
Divisi dengan fungsi Manajemen Risiko wajib Divisions with the Risk Management function are
melakukan review, evaluasi, serta memastikan bahwa required to review, evaluate and ensure that the
penetapan limit risiko dan risiko yang diambil telah determination of risk limits and the risks taken
teridentifikasi secara tepat, terukur dan dikelola sesuai have been identified appropriately, measured and
dengan parameter yang telah disetujui dan dilaporkan managed in accordance with approved parameters
kepada manajemen. Fungsi compliance mengelola and reported to management. The compliance
risiko kepatuhan dan bertanggung jawab untuk function manages compliance risk and is responsible
memastikan bahwa seluruh ketentuan peraturan for ensuring that all statutory provisions and other
perundang-undangan dan ketentuan lainnya yang provisions that bind the Company have been
mengikat Perseroan telah disosialisasikan dan socialized and complied with by all work units with
dipatuhi oleh seluruh satuan kerja dengan fungsi the relevant risk-taking function (Risk-Taking Division)
risk taking (Risk Taking Division) terkait.
3. Lini Pertahanan Ketiga (Third Line of Defense) 3. Third Line of Defense
Satuan kerja fungsi audit internal berperan sebagai The internal audit function work unit acts as the third
lini pertahanan ketiga (third line of defense) dengan line of defense by assessing the effectiveness of the
menilai keefektifan proses yang dilakukan pada lini processes carried out in the first line of defense and
pertahanan pertama dan lini pertahanan kedua untuk the second line of defense to provide independent
memberikan jaminan independen kepada Perseroan assurance to the Company that the internal control
bahwa sistem pengendalian internal, Manajemen system, Risk Management, and governance processes
Risiko, serta proses dan sistem tata kelola telah and systems have been implemented effectively.
diterapkan secara efektif.
Satuan kerja fungsi audit internal melakukan: The internal audit function work unit carries out:
Penilaian keefektifan dari penerapan Manajemen Assessment of the effectiveness of the implementation
Risiko, termasuk penerapan dan kepatuhan terhadap of Risk Management, including implementation and
kebijakan dan prosedur Manajemen Risiko, serta limit compliance with Risk Management policies and
Risiko yang berlaku, yang telah dilakukan oleh Satuan procedures, as well as applicable Risk limits, which
kerja dengan fungsi risk taking (Risk Taking Division); has been carried out by the work unit with the risk-
Penilaian keefektifan proses yang dilakukan pada lini taking function (risk-taking division); Assessment of
pertahanan kedua dalam melakukan fungsi kajian the effectiveness of the processes carried out in the
dan pemantauan terhadap penerapan Manajemen second line of defense in carrying out the function of PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Risiko; dan Penilaian keefektifan dan pemberian reviewing and monitoring the implementation of Risk
jaminan independen pada Perseroan terhadap sistem Management; and Evaluation of the effectiveness
pengendalian internal, Manajemen Risiko, serta proses and provision of independent guarantees to the
dan sistem tata kelola. Company regarding the internal control system,
Risk Management, and governance processes and
systems
Perseroan menegaskan bahwa manajemen risiko The Company emphasizes that risk management is not
bukan sekadar fungsi administratif, melainkan menjadi merely an administrative function, but a responsibility
tanggung jawab seluruh Insan Perseroan dan bagian for all Company personnel and an integral part of
integral dari budaya perusahaan. Dengan pendekatan the corporate culture. Through the Three Lines of
Three Lines of Defense, pengelolaan risiko dijalankan Defense approach, risk management is implemented
secara menyeluruh oleh seluruh lini organisasi, comprehensively across all organizational lines, ensuring
memastikan risiko dapat diidentifikasi, dinilai, dan that risks can be identified, assessed, and mitigated
dimitigasi secara proaktif. proactively.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Dalam mendukung penerapan manajemen risiko yang To support the effective implementation of risk
efektif, Perseroan telah mengimplementasikan Unit management, the Company has implemented the
Risk and Compliance Manager (URCM) di setiap divisi. Unit Risk and Compliance Manager (URCM) in each
URCM berperan sebagai single point of contact untuk division. The URCM serves as a single point of contact
manajemen risiko, kepatuhan (compliance), tata kelola for risk management, compliance, governance, and
(governance), serta tindak lanjut hasil audit. Kehadiran follow-up on audit findings. The presence of the URCM
URCM secara strategis memperkuat pengendalian strategically strengthens internal control, ensures optimal
internal, memastikan mitigasi risiko berjalan optimal, risk mitigation, supports internal audit, and enhances the
mendukung audit internal, dan meningkatkan kualitas quality of business processes. This is crucial in responding
proses bisnis. Hal ini menjadi krusial dalam menghadapi to the complexity and dynamic development of the
kompleksitas dan dinamika perkembangan bisnis Company’s business, while also establishing a foundation
Perseroan, sekaligus menyiapkan landasan bagi for sustainable growth.
pertumbuhan yang berkelanjutan.
Internal Audit
“URCM will be on each
Risk Management
Division/Function”
Compliance
2nd & 3rd line of defense
URCM URCM URCM URCM URCM URCM URCM URCM URCM URCM URCM URCM URCM
(DSP) (DPKMI) (DAI) (DRE) (DSDM) (DP1) (DP2) (DPM) (DPB) (DJK) (DUS) (DKHI) (DTI)
URCM URCM URCM URCM URCM URCM URCM URCM URCM URCM URCM URCM URCM
(DUP) (DPOP) (DAAA) (DPPU1) (DPPU2) (DPPU3) (DPP) (DK) (DEPI) (DELST) (DMRT) (DPPIK) (DH)
1st line of defense
STRUKTUR MANAJEMEN RISIKO RISK MANAGEMENT STRUCTURE
PT SMI menegaskan komitmennya untuk memastikan PT SMI affirms its commitment to ensuring the effectiveness
efektivitas manajemen risiko melalui struktur tata kelola of risk management through a solid governance structure
yang solid, melibatkan Dewan Komisaris, Direksi, dan involving the Board of Commissioners, the Board of
seluruh unit organisasi sesuai prinsip Three Lines of Directors, and all organizational units in accordance
Defense. Dewan Komisaris bertanggung jawab atas with the Three Lines of Defense principles. The Board of
pengawasan, pemantauan, dan pengarahan strategis, Commissioners is responsible for supervision, monitoring,
didukung oleh komite-komite di bawahnya. Direksi and strategic direction, supported by the committees
menetapkan kebijakan, memastikan kepatuhan, dan under it. The Board of Directors establishes policies,
mengelola sistem pengendalian internal, dengan ensures compliance, and manages the internal control
dukungan komite terkait. system, with support from the relevant committees.
Perseroan mengimplementasikan pendekatan Tiga Lini The Company implements the Three Lines of Defense
Pertahanan untuk meningkatkan efektivitas pengelolaan approach to enhance the effectiveness of risk
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
risiko. Risk Taking Division bertindak sebagai First management. The Risk-Taking Division acts as the
Line of Defense, menjalankan kegiatan usaha yang First Line of Defense, carrying out business activities
mengandung risiko untuk mencapai tujuan Perseroan. that involve risk achieving the Company’s objectives.
Risk Management Division sebagai Second Line of Defense The Risk Management Division, like the Second Line of
mengelola risiko secara independen, berkolaborasi Defense, manages risk independently while collaborating
dengan seluruh unit bisnis untuk membangun proses with all business units to establish comprehensive risk
pengelolaan risiko dan sistem pengendalian internal management processes and internal control systems.
yang komprehensif. Internal Audit Division, sebagai Third The Internal Audit Division, as the Third Line of Defense,
Line of Defense, melaksanakan risk assurance melalui performs risk assurance through periodic supervision
pengawasan dan evaluasi berkala, memastikan seluruh and evaluation, ensuring that all risk management
mekanisme pengelolaan risiko berjalan sesuai standar. mechanisms operate in accordance with established
standards.
Pendekatan ini memperkuat ketahanan organisasi This approach strengthens the organization’s resilience to
terhadap risiko, meningkatkan tata kelola, dan risk, enhances governance, and prepares the Company
menyiapkan Perseroan untuk menghadapi tantangan to proactively address future business challenges.
bisnis di masa depan secara proaktif.
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• Pemantauan, Pengawasan & Pengarahan
Monitoring, Supervision & Guidance
• Pengawasan Implementasi Kebijakan Manajamen Risiko (Risk Appetite dan Limit)
Supervision of Risk Management Policy Implementation (Risk Appetite and Limit)
• Dewan Komisaris
Komite di bawah Dewan Komisaris
Board of Commissioners
Committees Under the Board of Commissioners
• Dewan Pengawas Syariah
• Komite Audit
Sharia Supervisory Board
Audit Committee
• Komite Pemantau Risiko
Risk Monitoring Committee
• Komite Nominasi dan Remunerasi
Nomination and Remuneration Committee
• Perumusan dan Penetapan Kebijakan, termasuk Risk Appetite dan Limit
Formulation and determination of Policy, including Risk Appetite and Limit
• Pelaksanaan Kepatuhan
Implementation of Compliance
• Sistem Pengendalian Internal
Internal Control System
• Penetapan struktur organisasi, wewenang dan tanggung jawab
Establishment of organizational structure, authorities, and responsibilities
Komite di Bawah Direksi 6. Komite Kebijakan Umum dan Prosedur
Direksi
Committees Under the Board of Directors General Policy and Procedure Committee
Board of Directors
1. Komite Pembiayaan 7. Komite Aset dan Liabilitas
Financing Committee Asset and Liabilities Committee
2. Komite Penyertaan Modal 8. Komite Target
Equity Investment Committee Target Committee
3. Komite Pengembangan Proyek dan Jasa Konsultasi 9. Komite Monitoring
Project Development and Advisory Committee Monitoring Committee
4. Komite Teknologi Sistem Informasi 10. Komite Pengelolaan Sumber Daya
Information System Technology Committee Manusia
5. Komite Risiko dan Kapital Human Resources Management
Risk and Capital Committee Committee
1st line of defense 2nd line of defense 3rd line of defense
Kerangka Manajemen Risiko,
Pelaksanaan proses Kebijakan dan Metodologi,
Audit dan Review secara
manajemen risiko Fasilitator
Divisi Independen
Implementation of risk Risk Management Framework,
Division Independent Audit and Review
management processes Policy, Methodology and
Facilitator
Risk Taking Division (RTD) Risk Management Division Internal Audit Division
Transactional Policy Assurance
Perseroan terus memperkuat kualitas tata kelola The Company continues to strengthen the quality of
risiko melalui penyesuaian struktur komite di bawah risk governance through adjustments to the committee
Direksi untuk tetap responsif terhadap dinamika bisnis, structure under the Board of Directors to remain responsive
sekaligus menanamkan budaya risiko (risk culture) dan to business dynamics, while also embedding a risk culture
meningkatkan risk awareness di seluruh lini organisasi. and increasing risk awareness across all organizational
Struktur komite yang ada saat ini mendukung koordinasi lines. The existing committee structure supports
dan pengelolaan risiko secara menyeluruh, termasuk comprehensive coordination and risk management,
pengelolaan risiko terkait SDM. Penjelasan rinci mengenai including the management of risks related to human
komite-komite di bawah Dewan Komisaris dan Direksi capital. A detailed explanation of the committees under
disajikan pada bagian Komite di bawah Dewan Komisaris the Board of Commissioners and the Board of Directors
dan Komite di bawah Direksi dalam Bab Laporan Tata is presented in the section Committees under the Board
Kelola Perusahaan yang Baik di Laporan Tahunan ini. of Commissioners and Committees under the Board
of Directors in the Good Corporate Governance Report
chapter of this Annual Report. PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
JENIS-JENIS RISIKO TYPES OF RISKS FACED
YANG DIHADAPI
Perseroan secara konsisten menerapkan manajemen The Company consistently implements risk management
risiko sesuai ketentuan yang berlaku. Perseroan mengelola in accordance with applicable regulations. The Company
8 (delapan) taksonomi risiko utama, yaitu: Risiko Kredit, manages 8 (eight) main risk taxonomies, namely Credit
Risiko Operasional, Risiko Pasar, Risiko Likuiditas, Risiko Risk, Operational Risk, Market Risk, Liquidity Risk, Legal Risk,
Hukum, Risiko Strategis, Risiko Kepatuhan, dan Risiko Strategic Risk, Compliance Risk, and Reputational Risk. In
Reputasi. Selain itu, Perseroan juga mengelola Risiko addition, the Company also manages Equity Investment
Penyertaan Modal, yang disesuaikan dengan karakter Risk, which is adjusted to the nature and complexity of the
dan kompleksitas bisnis. Dengan demikian, total risiko business. Accordingly, the total number of risks managed
yang dikelola Perseroan berjumlah 9 (sembilan) jenis, by the Company amounts to 9 (nine) types, namely:
yakni:
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05 Tata Kelola Perusahaan
Good Corporate Governance
1. Risiko Kredit 1. Credit Risk
Risiko akibat kegagalan Debitur/Nasabah/pihak lain Risk due to failure of Debtors/Customers/other parties
dalam memenuhi kewajiban kepada Perseroan. in fulfilling obligations to the Company
2. Risiko Penyertaan Modal
Risiko akibat nilai transaksi divestasi penyertaan 2. Equity Investment Risk
modal dibawah nilai wajar (fair value) penyertaan Risk due to the equity investment divestment
modal saat transaksi dan nilai (value) cost recovery transaction value being below the fair value of the
(nilai pokok penyertaan modal). equity investment at the time of the transaction and
the cost recovery value (principal value of the equity
investment).
3. Risiko Operasional 3. Operational Risk
Risiko akibat ketidakcukupan dan/atau tidak Risks due to inadequacy and/or non-functioning
berfungsinya proses internal, kesalahan manusia, of internal processes, human error, system failure,
kegagalan sistem, dan/atau adanya kejadian and/or external events that affect the Company's
eksternal yang mempengaruhi operasional Perseroan. operations.
4. Risiko Pasar 4. Market Risk
Risiko pada posisi aset, liabilitas, ekuitas, dan/atau Risks to the position of assets, liabilities, equity and/
rekening administratif termasuk transaksi derivatif, or administrative accounts, including derivative
akibat perubahan secara keseluruhan dari kondisi transactions, due to overall changes in market
pasar. conditions.
5. Risiko Likuiditas 5. Liquidity Risk
Risiko akibat ketidakmampuan Perseroan untuk Risk due to the Company's inability to meet maturing
memenuhi liabilitas yang jatuh tempo dari sumber obligations from cash flow funding sources and/or
pendanaan arus kas dan/atau dari aset likuid yang from liquid assets that can be easily converted into
dapat dengan mudah dikonversi menjadi kas, cash, without disrupting the Company's activities and
tanpa mengganggu aktivitas dan kondisi keuangan financial condition.
Perseroan.
6. Risiko Hukum 6. Legal Risk
Risiko yang timbul akibat tuntutan hukum dan/atau Risks arising from lawsuits and/or weaknesses in legal
kelemahan aspek hukum. aspects.
7. Risiko Strategis 7. Strategic Risk
Risiko akibat ketidaktepatan Perseroan dalam Risks due to the Company's inaccuracy in making and/
pengambilan dan/atau pelaksanaan suatu keputusan or implementing strategic decisions as well as failure
strategis serta kegagalan dalam mengantisipasi to anticipate changes in the business environment.
perubahan lingkungan bisnis.
8. Risiko Kepatuhan 8. Compliance Risk
Risiko akibat Perseroan tidak mematuhi dan/atau Risk due to the Company not complying with and/or
tidak melaksanakan peraturan perundang-undangan not implementing the applicable laws and regulations.
dan ketentuan yang berlaku.
9. Risiko Reputasi 9. Reputational Risk
Risiko akibat menurunnya tingkat kepercayaan Risk due to a decrease in the level of stakeholder
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
pemangku kepentingan ( stakeholder ) yang trust originating from negative perceptions of the
bersumber dari persepsi negatif terhadap Perseroan. Company.
Dalam upaya memperkuat manajemen risiko, Perseroan In strengthening risk management, the Company does not
tidak hanya fokus pada 9 (sembilan) taksonomi risiko only focus on the 9 (nine) main risk taxonomies, but also
utama, tetapi juga secara aktif mengelola Risiko Syariah actively manages Sharia Risk as well as Environmental
serta Risiko Lingkungan dan Sosial (ESS), yang merupakan and Social Risk (ESS), which form an integral part of the
bagian integral dari taksonomi Risiko Kredit dan Risiko Credit Risk and Compliance Risk taxonomies.
Kepatuhan.
PENGELOLAAN RISIKO RISK MANAGEMENT PROCESS
Perseroan mengelola risiko dengan memperhatikan The Company manages risk by ensuring the adequacy of
kecukupan seluruh proses manajemen risiko, mencakup all risk management processes, including identification,
identifikasi (identification), pengukuran (measurement), measurement, monitoring, and control of risks across
pemantauan ( monitoring ), dan pengendalian all risk taxonomies managed by the Company in all
(controlling) risiko terhadap seluruh taksonomi risiko yang business activities carried out. The implementation
dikelola oleh Perseroan pada seluruh kegiatan usaha of the Risk Management process is supported by a
yang dijalankan. Pelaksanaan proses Manajemen Risiko timely management information system, accurate and
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didukung oleh sistem informasi manajemen yang tepat informative reports regarding the Company’s financial
waktu, laporan yang akurat dan informatif mengenai condition, the performance of functional activities, and
kondisi keuangan Perseroan, kinerja aktivitas fungsional the Company’s risk exposure, as well as human capital
dan eksposur risiko (risk exposure) Perseroan, serta with competencies in the field of risk management.
sumber daya manusia yang memiliki kompetensi di
bidang manajemen risiko.
Sebagai bagian inti dari pengelolaan risiko, Perseroan As the main part of risk management, the Company has
menetapkan Risk Appetite Statement (RAS) dan established a Risk Appetite Statement (RAS) and Risk
Profil Risiko, yang menjadi pedoman untuk menjaga Profile which serves as guidelines for balancing its role as
keseimbangan antara peran katalis bisnis dan a catalyst with the sustainability of the business to fulfill
keberlanjutan usaha. RAS dan Profil Risiko juga menjadi its set objectives. The RAS and Risk Profile are the main
alat utama dalam memantau seluruh eksposur working tools to monitor all taxonomy risk exposures faced
taksonomi risiko Perseroan, sekaligus menjadi acuan by the Company. Therefore, RAS and Risk Profile become
dalam penyusunan kebijakan, strategi, dan Rencana a reference in every policy making, strategy formulation
Kerja Anggaran Perusahaan (RKAP) untuk mendukung and the Company’s Work Plan and Budget in supporting
perkembangan bisnis. its business development.
Perseroan secara berkala meninjau RAS dan Profil Risiko The Company periodically reviews the RAS and Risk Profile
guna meningkatkan efektivitas proses manajemen risiko, to increase the effectiveness of the risk management
seiring dengan meningkatnya kompleksitas kegiatan process to support the development of the complexity
bisnis. Pengkinian RAS dilakukan setiap 2 (dua) tahun of the business activities carried out by the Company.
atau lebih cepat bila diperlukan, misalnya untuk Based on applicable regulations, RAS updates are
menindaklanjuti hasil kajian Laporan Pemantauan Risk carried out every 2 (two) years or sooner, if necessary,
Appetite, menyesuaikan dengan aksi korporasi, atau for example following up on the results of studies from
menghadapi kondisi force majeure yang berdampak the Risk Appetite Monitoring Report, alignment with
pada kinerja. Sementara itu, tinjauan atas metodologi the Company's corporate actions, or force majeure
penilaian Profil Risiko yang merupakan perangkat conditions due to economic turmoil that impact the
pengukuran risiko Perseroan dapat dilakukan secara Company's performance. Meanwhile, a review of the
berkala paling sedikit 1 (satu) kali dalam 1 (satu) tahun Risk Profile assessment methodology, which serves as
dilakukan untuk memastikan kesesuaian dengan regulasi the Company’s risk measurement instrument, may be
dan kondisi terkini Perseroan. conducted periodically at least once (1) a year to ensure
alignment with prevailing regulations and the Company’s
current conditions.
Pemantauan dan pengendalian risiko dilakukan secara Risk monitoring and control are carried out continuously
berkesinambungan oleh RTD sebagai risk owner dan by the Risk-Taking Divisions (RTD) as the risk owners and
secara periodik oleh Direktorat Manajemen Risiko. Hasil periodically by the Directorate of Risk Management.
pemantauan didokumentasikan dalam laporan yang The results of the monitoring are documented in
tersedia bagi pengurus Perseroan maupun regulator. reports available to the Company’s management as
Berikut adalah bentuk laporan pengelolaan risiko yang well as regulators. The following are the forms of risk
rutin tersedia. management reports that are routinely available. PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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05 Tata Kelola Perusahaan
Good Corporate Governance
Laporan kepada
Laporan kepada Dewan
Laporan kepada Direksi Laporan kepada Regulator (OJK)
Komisaris
Report to the Board of Pemegang Saham Report to the Regulator
Report to the Board of
Directors Report to the Shareholders (Financial Services
Commissioners
Authority)
• Laporan Profil Risiko
yang merupakan bagian
dari Laporan Tingkat
• Laporan Pengelolaan
Kesehatan Perusahaan
Risiko, di mana di
Pembiayaan Infrastruktur
dalamnya terutama
(Tahunan) sesuai dengan
membahas Profil Risiko
POJK 16/2024 dan SEOJK
dan Pemantauan Risk
27/2021 serta diperbaharui
Appetite Statement • Laporan Profil Risiko dan
sebagian pada Peraturan
Perseroan (triwulanan). Pemantauan Risk Appetite
Anggota Dewan
Risk Management Statement Perseroan
Komisioner (PADK) Nomor
Report, which mainly (triwulanan).
48 Tahun 2025.
discusses the Risk Profile The Company’s Monitoring
Risk Profile Report as
and Monitoring of the Report on Risk Profile and • Laporan Pengelolaan
part of the Health/
Company's Risk Appetite Risk Appetite Statement Risiko kepada Pemegang
Soundness Level Report of
Statement (quarterly). (quarterly). Saham melalui Laporan
Infrastructure Financing
• Laporan Portofolio • Laporan Monitoring Market & Triwulanan Manajemen.
Company (annual),
Pembiayaan, Investasi, Liquidity Risk (bulanan) Risk Management
in accordance with
Treasury, Pengembangan Market & Liquidity Monitoring Report to Shareholders
Regulation of the Financial
Proyek dan Jasa Report (monthly). through the Quarterly
Services Authority No. 16
Konsultasi (bulanan). • Laporan/Diskusi Pengelolaan Management Report.
of 2024 and Circular Letter
Financing, Investment, Risiko melalui Komite • Laporan Stress Test
of the Financial Services
Treasury, Project Pemantau Risiko atau Rapat Korporasi secara
Authority No. 27 of 2021
Development and Gabungan Direksi dan semesteran
and partially updated
Consulting Services Komisaris. Corporate Stress Test
in the Regulation of
Portfolio Report (monthly). Risk Management Report/ Report (semi-annually).
Members of the Board of
• Laporan Market & Liquidity Discussion through the Risk
Commissioners (PADK) No.
(bulanan). Monitoring Committee or
48 of 2025.
Market & Liquidity Report Joint Meeting of the Board
• Laporan Posisi Devisa
(monthly). of Directors and the Board of
Netto (PDN) untuk
• Laporan Pengelolaan Commissioners.
pengelolaan risiko nilai
Pembiayaan Khusus
tukar.
(bulanan).
Net Open Position
Special Financing
(PDN) Report for the
Management Report
management of foreign
(monthly).
exchange risk.
• Laporan Stress Test
Stress Test Report
Divisi Evaluasi Lingkungan Sosial & Teknik secara berkala The Environmental, Social, and Technical Evaluation
menyusun laporan pemenuhan Corrective Action Plan Division periodically prepares reports on the fulfillment of
(CAP) terkait aspek lingkungan dan sosial. Laporan ini the Corrective Action Plan (CAP) related to environmental
memberikan perspektif independen bagi manajemen and social aspects. This report provides an independent
untuk memahami kondisi terkini Perseroan dan menjadi perspective for management to understand the
dasar pertimbangan dalam pengambilan keputusan Company’s current condition and serves as a basis for
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
strategis. consideration in strategic decision-making.
Pemantauan dan pengendalian risiko didukung oleh Risk monitoring and control are supported by Risk
perangkat Manajemen Risiko serta Sistem Informasi Management tools and a Risk Management Information
Manajemen Risiko, yang terus dikembangkan untuk System, which continue to be developed to enhance
meningkatkan efektivitas, efisiensi, dan ketahanan effectiveness, efficiency, and business resilience in
usaha menghadapi perubahan atau tantangan yang responding to dynamic changes and challenges. This
muncul secara dinamis. Sistem ini disesuaikan dengan system is aligned with the Company’s risk characteristics
karakteristik dan taksonomi risiko Perseroan, memfasilitasi and risk taxonomy, facilitating management in
manajemen dalam menentukan respons, tindak lanjut, determining responses, follow-up actions, as well as
serta keputusan strategis maupun operasional. strategic and operational decisions.
Perangkat dan sistem pengelolaan risiko Perseroan juga The Company’s risk management tools and systems
menyediakan laporan akurat dan tepat waktu, yang also provide accurate and timely reports, strengthening
memperkuat kapabilitas Perseroan dalam menghadapi the Company’s capability to address risks and support
risiko dan mendukung pertumbuhan berkelanjutan. sustainable growth.
Berikut gambaran perangkat pengelolaan risiko The following illustrates the Company’s risk management
Perseroan: tools:
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• Net Open Position (risiko nilai
tukar/exchange rate risk)
• Weighted Duration
• DV01 (risiko suku bunga/
interest rate risk)
• IRRBB
• Risk Appetite Statement • RAS
(RAS) • Profil Risiko (Risk Profile)
• Profil Risiko (Risk Profile)
• Internal Credit Rating • Corrective Action
• Annual Review Plan Monitoring*
• Early Warning System • Sistem Informasi
• RAS Pemetaan*
• Profil Risiko (Risk Profile) Mapping Information
• ESDD Report*
Risiko Penyertaan System*
Modal
Equity Investment
Risk
4 Risiko Lainnya Risiko Pasar
4 Other Risks Market Risk
Risiko Kredit
Risiko Credit Risk
Operasional
Risiko Hukum, Risiko Strategis, Operational Risk
Risiko Kepatuhan, Risiko
Reputasi: Risiko Likuiditas
Legal Risk, Strategic Risk, Liquidity Risk
Compliance Risk, Reputational Risiko Strategis
Risk: Strategic Risk
• RAS
• Profil Risiko (Risk Profile)
• Risk Control Self Assessment • Liquidity Gap Analysis
• Risk Event Reporting • Liquidity Coverage Ratio
• GOCEQ • Liquid Asset to Funding Ratio
• RAS • RAS
• Profil Risiko (Risk Profile) • Profil Risiko (Risk Profile)
*Terkait Pengelolaan Risiko Lingkungan dan Sosial
*Related to Environmental and Social Risk Management
Mitigasi Risiko untuk Menekan Potensi Risk Mitigation to Reduce Potential
Pembiayaan Bermasalah Financing Problems
Perseroan menerapkan strategi penguatan mitigasi risiko The Company implements a comprehensive risk
secara menyeluruh untuk menekan potensi pembiayaan mitigation strengthening strategy to reduce the
bermasalah serta menjaga tingkat Non-Performing Loan potential for problematic financing and maintain the PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
(NPL) pada level yang sehat. Upaya ini difokuskan pada Non-Performing Loan (NPL) level at a healthy level. These
perbaikan dan pengembangan di setiap tahap proses efforts focus on improvements and development at each
pembiayaan, yang diimplementasikan melalui tiga lini stage of the financing process, which are implemented
utama sebagai berikut: through the following three main lines:
1. Front End Process 1. Front End Process
a. Pengembangan dan penyempurnaan perangkat a. Development and improvement of tools and
serta kebijakan terkait Pembiayaan & Investasi policies related to Financing & Investment,
antara lain: including:
• Kebijakan terkait Pembiayaan & Investasi, • Policies related to Financing & Investment,
yang mencakup proses originasi, pemantauan covering the origination process, monitoring,
dan pelaporan (termasuk terkait pengelolaan and reporting (including the management of
pembiayaan khusus). Kebijakan terkait special financing). These policies will continue
Pembiayaan & Investasi tersebut akan to be enhanced in accordance with the
senantiasa ditingkatkan sesuai kebutuhan Company’s needs;
Perseroan;
• Rating Tools dan Risk Acceptance Criteria (RAC) • Rating Tools and Risk Acceptance Criteria
yang disesuaikan dengan karakteristik debitur, (RAC) tailored to the characteristics of debtors,
yaitu: Corporate Financing, Project Financing, namely Corporate Financing, Project Financing,
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05 Tata Kelola Perusahaan
Good Corporate Governance
dan Public Sector Financing. Rating Internal and Public Sector Financing. The internal rating
digunakan untuk mengukur tingkat risiko kredit is used to measure the level of credit risk of
pembiayaan yang dijadikan dasar dalam financing and serves as the basis for financing
persetujuan pembiayaan, pengelolaan portofolio, approval, portfolio management, and the
dan pembentukan cadangan kerugian; establishment of loss reserves;
Kategori Rating Peringkat
Corporate Finance
Rating Category Rating
Project Finance AAA
AA
Investment grade
A
Pemerintah Daerah BBB
Regional Government
BB
Non-Investment B
grade
CCC
Public Sector
D
Risk Acceptance Criteria (RAC) sesuai dengan karakteristik debitur yang dibiayai
Risk Acceptance Criteria (RAC) in accordance with the characteristics of the financed borrower
• Early Warning System (EWS) Pembiayaan • The Financing Early Warning System (EWS)
digunakan untuk menangkap sinyal is used to capture signals of deterioration in
pemburukan kualitas kredit debitur yang the credit quality of debtors, with monitoring
pemantauannya dilakukan secara berkala. conducted periodically. Financing showing
Pembiayaan yang memiliki gejala penurunan indications of declining credit quality will be
kualitas kredit, akan dipantau lebih intensif dan monitored more intensively, and preventive
disusun action plan pencegahan penurunan action plans will be prepared to prevent further
kualitas kredit; deterioration in credit quality;
• Penerapan Service Level Agreement (SLA) • Implementation of a Service Level Agreement
untuk meningkat kualitas hasil rating dan reviu (SLA) to improve the quality of rating results
risiko (risk review); and risk reviews;
• Penguatan Kebijakan terkait Environment • Strengthening policies related to Environmental
and Social Safeguards melalui implementasi and Social Safeguards through the
perangkat Environmental and Social Rating implementation of the Environmental and
(E&S Rating) Social Rating (E&S Rating) tool;
• Penyusunan Risk Appetite Statement (RAS) • Preparation of the Risk Appetite Statement
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
untuk menetapkan tingkat risiko yang dapat (RAS) to determine the level of risk acceptable
diterima oleh perusahaan dalam aktivitas to the Company in financing activities; and
pembiayaan; dan
• Penyempurnaan Kebijakan terkait Batas • Enhancement of the policy related to the
Minimum Pemberian Pembiayaan (BMPP) Minimum Limit for Financing Provision (BMPP) to
untuk memantau secara lebih akurat more accurately monitor the concentration of
konsentrasi penyaluran pembiayaan kepada financing disbursement to borrowers/borrower
peminjam/kelompok peminjam. groups.
b. Penetapan struktur pembiayaan yang tepat untuk b. Determination of appropriate financing
masing masing debitur (calon debitur) sesuai structures for each debtor (prospective debtor)
dengan model bisnisnya. in accordance with its business model.
c. Konsultasi kepada Dewan Komisaris untuk c. Consultation with the Board of Commissioners for
pembiayaan dengan limit tertentu. financing with certain limits.
d. Pelaksanaan Account Planning Session untuk d. Implementation of Account Planning Sessions for
deteksi dini permasalahan debitur WL dan NPL. the early detection of issues related to Watchlist
(WL) and Non-Performing Loan (NPL) debtors.
2. Middle End Process 2. Middle End Process
a. Penguatan monitoring debitur eksisting melalui a. Strengthening monitoring of existing debtors
pelaksanaan annual review, pelaksanaan re- through annual reviews, re-rating of existing
692 rating atas debitur eksisting. debtors.
Page 423
b. Penerapan monitoring lebih intensif pada debitur b. Implementation of more intensive monitoring on
yang termasuk dalam kategori watchlist, baik debtors included in the watchlist category, both
debitur yang masih dalam kelolaan Unit Bisnis debtors who are still under the management of the
(watchlist monitoring) maupun debitur yang Business Unit (monitoring watchlist) and debtors
penanganannya dilakukan bersama (joint effort) whose handling is carried out together (joint
unit pembiayaan khusus yang menangani debitur effort) with a special financing unit that handles
pembiayaan Non Performing Loan (watchlist Pra Non-Performing Loan financing debtors (Pre-NPL
NPL). watchlist).
c. Pembentukan CKPN pada pembiayaan c. Establishment of Allowance for Impairment
konvensional dan syariah sesuai dengan Losses (CKPN) for conventional and sharia
karakteristik risikonya. Pada pembiayaan financing in accordance with their respective
konvensional, CKPN secara kolektif untuk debitur risk characteristics. For conventional financing,
yang belum terdapat peningkatan signifikan risiko CKPN is calculated collectively for debtors with
kredit (stage 1) dan secara individual oleh Unit no significant increase in credit risk (stage 1)
Bisnis untuk debitur yang mengalami peningkatan and individually by the Business Unit for debtors
signifikan risiko kredit (stage 2 dan 3). Peningkatan experiencing a significant increase in credit risk
signifikan risiko kredit dapat ditandai dengan (stage 2 and stage 3). A significant increase in
Restrukturisasi, terdapat tunggakan di atas 30 credit risk may be indicated by restructuring,
hari, penurunan rating menjadi non-Investment arrears exceeding 30 days, a downgrade in rating
Grade, dan debitur NPL. to non-Investment Grade, and NPL debtors.
d. Turut aktif melakukan site visit ke lokasi debitur/ d. Actively participate in conducting site visits to
calon debitur bersama Unit Bisnis untuk debtor/potential debtor locations together with
memahami kondisi riil yang dihadapi debitur/ the Business Unit to understand the real conditions
calon debitur. faced by debtors/potential debtors.
e. Telah diterbitkannya Laporan Portofolio e. Monthly Financing Portfolio Reports have been
Pembiayaan secara bulanan kepada Direksi issued to the Company's Board of Directors.
Perseroan. Laporan ini senantiasa ditingkatkan This report is always improved according to the
sesuai dengan kebutuhan Perseroan. Company's needs.
3. Back End Process 3. Back End Process
a. Penyusunan dan implementasi Kebijakan terkait a. Preparation and implementation of policies related
Pengelolaan Pembiayaan Khusus dalam rangka to Special Financing Management in the context
penanganan debitur watchlist dan debitur Non- of handling watchlist debtors and Non-Performing
Performing Loan. Loan debtors.
b. Upaya penurunan Non-Performing Loan melalui b. Efforts to reduce Non-Performing Loans through
penagihan intensif, restrukturisasi (untuk debitur intensive collection, restructuring (for debtors
yang masih memiliki prospek) atau melalui who still have prospects) or through financing
penyelesaian pembiayaan termasuk namun settlements including but not limited to legal steps
tidak terbatas pada langkah-langkah hukum (litigation).
(litigasi).
c. Proses pengambilan keputusan terhadap debitur c. The decision-making process for problematic
bermasalah melalui Komite Monitoring. debtors is through the Monitoring Committee. PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
d. Memastikan kecukupan CKPN atas debitur-debitur d. Ensuring the adequacy of CKPN for problematic
bermasalah. debtors.
Risk Appetite Statement Risk Appetite Statement
PT SMI menetapkan Risk Appetite Statement (RAS) PT SMI establishes the Risk Appetite Statement (RAS) as
sebagai dasar dalam merumuskan seluruh kebijakan the basis for formulating all risk management policies.
manajemen risiko. RAS merupakan bentuk tertulis dari Risk The RAS is a written representation of the Risk Appetite
Appetite yang menggambarkan tingkat serta taksonomi that describes the level and taxonomy of risks that the
risiko yang dapat diterima Perseroan untuk mencapai Company is willing to accept in order to achieve its vision,
visi, misi, dan target strategisnya. Jenis RAS dan tujuan mission, and strategic targets. The types of RAS and their
masing-masing disajikan sebagai berikut: respective objectives are presented as follows:
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tujuan
No. Risk Appetite Statement Objective
Menjaga rating Perseroan serta kecukupan modal Perseroan untuk keberlanjutan usaha
RAS Korporasi Perseroan.
1.
RAS Corporation Maintaining the Company's rating and the Company's capital adequacy for the
sustainability of the Company's business.
Menjaga rasio Non-Performing Loan gross (NPL), rasio Loan Loss Provision (LLP), rasio
Loan at Risk (LaR), weighted average rating portfolio pembiayaan komersial, monitoring
pembiayaan yang diberikan, batasan eksposur debitur dan komposisi portofolio
pembiayaan untuk menjaga risiko konsentrasi pembiayaan, panduan penerapan prinsip
Environmental and Social Safeguards dan implementasi Corrective Action Plan dalam
RAS Risiko Kredit
2. setiap aktivitas pembiayaan.
RAS Credit Risk
Maintaining gross Non-Performing Loan (NPL) ratio, Loan Loss Provision (LLP) ratio, Loan
at Risk (LaR) ratio, weighted average rating of commercial financing portfolio, monitoring
of financing provided, debtor exposure limits and financing portfolio composition to
maintain concentration risk financing, guidance on implementing Environmental and Social
Safeguards principles and implementing Corrective Action Plans in every financing activity.
Memberikan panduan batasan penyertaan modal Perseroan dengan mempertimbangkan
RAS Risiko Penyertaan Modal modal Perseroan, maupun modal investee sebagai prinsip kehati-hatian.
3.
RAS Equity Investment Risk Providing guidance on limits on Company capital participation by considering the
Company's capital and investee capital as a precautionary principle
Memberikan panduan pengelolaan risiko pasar melalui mekanisme hedging yang terukur.
RAS Risiko Pasar
4. Providing guidance on market risk management through measurable hedging
RAS Market Risk
mechanisms.
Memberikan panduan pengelolaan risiko likuiditas dengan cara menjaga kecukupan
RAS Risiko Likuiditas tingkat likuiditas pada level tertentu dengan memerhatikan kapasitas Perseroan.
5.
RAS Liquidity Risk Providing guidance on managing liquidity risk by maintaining adequate levels of liquidity at
a certain level by paying attention to the Company's capacity.
Memberikan panduan terkait tingkat kompetensi Sumber Daya Manusia (SDM), retention
RAS Risiko Operasional rate SDM, dan batasan kerugian operasional, untuk mengurangi potensi risiko operasional.
6.
RAS Operational Risk Providing guidance regarding Human Capital competency levels, Human Capital retention
rates, and operational loss limits, to reduce potential operational risks.
Memberikan panduan bagi Perseroan untuk menjaga potensi timbulnya tuntutan hukum
terhadap seluruh aktivitas Perseroan, terlebih yang berpotensi mengakibatkan kerugian
RAS Risiko Hukum finansial bagi Perseroan.
7.
RAS Legal Risk Providing guidance for the Company to guard against the potential for legal claims to arise
regarding all the Company's activities, especially those that have the potential to result in
financial losses for the Company.
Memberikan panduan agar Perseroan selalu mematuhi kebijakan eksternal & internal,
regulasi anti korupsi, fraud, pencucian uang penyuapan dan prinsip keuangan syariah
pada aktivitas usaha Syariah Perseroan guna meningkatkan kualitas penerapan Good
RAS Risiko Kepatuhan Corporate Governance.
8.
RAS Compliance Risk Providing guidance so that the Company always complies with external & internal policies,
anti-corruption regulations, fraud, money laundering and bribery and sharia financial
principles in the Company’s Sharia business activities to improve the quality of Good
Corporate Governance implementation.
Memberikan panduan untuk mendukung penugasan dari Pemerintah dengan tetap
menjaga kualitas aset, kecukupan permodalan, batasan pembiayaan, dan likuiditas
RAS Risiko Strategis
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
9. Perseroan.
RAS Strategic Risk
Providing guidance to support assignments from the Government while maintaining asset
quality, capital adequacy, financing limits and the Company's liquidity.
Memberikan panduan kepada Perseroan dalam mengelola pemberitaan negatif yang
RAS Risiko Reputasi mungkin terjadi kepada Perseroan.
10.
RAS Reputational Risk Providing guidance to the Company in managing negative news that may occur to the
Company.
Perseroan menilai bahwa pemantauan dan pembaruan The Company recognizes the importance of monitoring
Risk Appetite perlu dilakukan secara konsisten agar and updating the Risk Appetite so that it can be more
perspektif pengelolaan risiko semakin forward looking, forward looking in identifying risks to support and oversee
khususnya dalam mengidentifikasi potensi risiko the Company's business growth and development in a
yang dapat memengaruhi pertumbuhan bisnis dan sustainable manner (sustainable growth) in accordance
pembangunan Perseroan secara berkelanjutan sesuai with the Company's current business conditions. The
dinamika usaha terkini. Hingga saat ini, Perseroan Company implements 27 (twenty-seven) RAS for each
menerapkan 27 (dua puluh tujuh) RAS untuk setiap jenis type of risk which is monitored periodically to ensure that
risiko yang dipantau secara berkala guna memastikan the Company's business activities are in accordance
seluruh aktivitas usaha tetap berada dalam batas Risk with the established Risk Appetite. Monitoring results can
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Appetite yang telah ditetapkan. Hasil pemantauan be the basis for decision making by the Management in
tersebut menjadi dasar bagi manajemen dalam running the Company's business.
mengambil keputusan strategis.
RAS Perseroan disusun dengan mempertimbangkan The Company's RAS is prepared by considering business
karakteristik bisnis, tujuan usaha, serta relevansinya characteristics, the Company's business objectives and
terhadap implementasi manajemen risiko secara relevance in the implementation of the Company's overall
menyeluruh. Proses penyusunan dan penetapan RAS risk management. The preparation and determination of
mengacu pada prinsip-prinsip berikut: RAS follow the following principles:
1. Melakukan komunikasi dan koordinasi dengan seluruh 1. Communicate and coordinate with all stakeholders;
stakeholders (pemangku kepentingan);
2. Menggunakan pendekatan Top-Down dan Bottom- 2. Using Top-Down and Bottom-Up approaches;
Up;
3. Mempertimbangkan analisis risiko dan manfaat 3. Consider risk and benefit analysis in making Company
dalam pengambilan keputusan Perseroan; dan decisions; and
4. Dapat beradaptasi terhadap perubahan bisnis dan 4. Adapt to changes in business and market conditions
kondisi pasar agar mengambil peluang terbaik yang to take the best opportunities that are within the
masih dalam batasan risk capacity Perseroan. Company's risk capacity limits.
Proses Penyusunan Risk Appetite Statement Perseroan
Process for Establishing the Company’s Risk Appetite Statement
Pemetaan Risk mapping to performance
mapping, meliputi:
• Identifikasi
a. Sasaran strategis
Arahan Dewan
b. Indikator Kinerja Utama (IKU)
Komisaris, Direksi, dan Arahan Dewan Komisaris, Direksi,
c. Target kinerja
kebijakan pemerintah dan kebijakan pemerintah terkait
• Klasifikasi IKU
terkait pembangunan pembangunan infrastruktur
• Identifikasi risiko
infrastruktur nasional nasional
• Penyusunan RAS
Guidance from Board Guidance from Board of
Risk mapping to performance mapping,
of Commissioners, Commissioners, Board of
including:
Board of Directors, and Directors, and government
• Identification
government policies on policies on national infrastructure
a. Strategic goals
national infrastructure development.
b. Key Performance Indicators (KPI)
development.
c. Performance target
• KPI Classification
• Risk Identification
• RAS Preparation
Persetujuan RAS oleh
Direksi, dan dapat
Usulan RAS berdasarkan Diskusi dengan Diskusi dan koordinasi Dewan
berkonsultasi kepada
Dewan Komisaris, Direksi dan Stakeholders Komisaris, Direksi dan Stakeholders
Dewan Komisaris
RAS suggestion based on Discussion with Discussion and coordination with
RAS approved by Board
Board of Commissioners, Board of Directors, Board of Commissioners, Board of
of Directors, and can
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
and Stakeholders Directors, and Stakeholders
consult with Board of
Commissioners
Sosialisasi RAS
RAS Socialization
Komponen pertama dalam kerangka penyusunan Risk The first component in the framework for establishing the
Appetite adalah aspek tata kelola, mengingat penetapan Risk Appetite is the governance aspect, considering that
Risk Appetite merupakan bagian integral dari praktik the determination of Risk Appetite constitutes an integral
tata kelola yang baik. Aspek ini mencakup kewenangan, part of good governance practices. This aspect includes
peran, dan tanggung jawab Direksi serta seluruh unit the authority, roles, and responsibilities of the Board of
kerja dalam proses penyusunan, pemantauan, dan Directors and all work units in the process of formulating,
pembaruan Risk Appetite. Selain itu, visi, misi, fungsi monitoring, and updating the Risk Appetite. In addition,
katalis, dan keberlangsungan bisnis Perseroan menjadi the Company’s vision, mission, catalyst function, and
pertimbangan utama dalam membangun kerangka business sustainability serve as key considerations in
kerja Risk Appetite yang efektif. establishing an effective Risk Appetite framework.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Kerangka Kerja Penyusunan Risk Appetite Statement Perseroan
Framework for Establishing the Company’s Risk Appetite Statement
Tata kelola
Governance
Visi Misi Perseroan
Company Vision and Mission
Fungsi Katalis dan Keberlanjutan Bisnis
Catalyst Function and Business Sustainability
Risk Capacity Strategy
Risk Appetite
Alokasi Risk Appetite Taksonomi Risiko
Risk Appetite Allocation to Risk Taxitonomy
Alokasi Risk Appetite ke Tingkat Divisi/Sektor/Produk/Tingkat Lainnya
Allocation of Risk Appetite to Division/Sectors/Product/Other Levels
Pemantauan dan Pengkinian Risk Appetite
Monitoring and Updating Risk Appetite
Legend:
Profil Risiko | Risk Profile
Mempengaruhi secara langsung | Direct influence
Mempengaruhi secara tidak langsung | Indirect Influence
Risk Capacity, Risk Appetite, strategi, dan profil risiko Risk Capacity, Risk Appetite, strategy and risk profile
merupakan elemen yang saling terhubung dalam are components in the Risk Appetite framework that
kerangka Risk Appetite. Setiap komponen mempengaruhi are interrelated and can influence each other. The
dan membentuk satu sama lain, sehingga menghasilkan relationship between these components is illustrated
kerangka penyusunan Risk Appetite yang terintegrasi, in the risk appetite preparation framework as shown in
sebagaimana tergambar pada bagan di atas. the chart above.
1. Risk Capacity dan Strategi 1. Risk Capacity and Strategy
a. Strategi Perseroan harus berada dalam batasan a. The Company's strategy must be within the
Risk Capacity Perseroan. Company's Risk Capacity limits.
b. Perubahan strategi Perseroan dapat memicu b. Changes in the Company's strategy can trigger
perubahan Risk Capacity Perseroan. changes in the Company's Risk Capacity.
2. Risk Capacity dan Risk Appetite 2. Risk Capacity and Risk Appetite
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
a. Risk Capacity mempengaruhi Risk Appetite. Risk a. Risk Capacity affects Risk Appetite. Risk Capacity is
Capacity menjadi acuan dalam menentukan Risk a reference in determining Risk Appetite because
Appetite karena Perseroan harus menetapkan Risk the Company must determine Risk Appetite within
Appetite dalam batasan Risk Capacity. Risk Capacity limits.
b. Risk Appetite dapat mempengaruhi Risk Capacity b. Risk Appetite can affect Risk Capacity indirectly
secara tidak langsung karena Perseroan dapat because the Company can propose an increase in
mengusulkan peningkatan Risk Capacity seiring Risk Capacity in line with increasing Risk Appetite.
dengan meningkatnya Risk Appetite.
3. Risk Appetite dan Strategi 3. Risk Appetite and Strategy
a. Risk Appetite dan strategi harus selaras satu sama a. Risk Appetite and strategy must be in harmony
lain. with each other.
b. Perseroan dapat menentukan tolerance pada b. The Company can determine tolerance for each
setiap indikator kinerja. Tolerance merupakan performance indicator. Tolerance is a variation
variasi kinerja yang dapat diterima Perseroan in performance that the Company can accept in
dalam mencapai sasaran strategis. achieving strategic targets.
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PROFIL RISIKO RISK PROFILE
Pengelolaan risiko Perseroan dilaksanakan secara The Company's risk management process is carried
terintegrasi melalui penilaian berkala atas profil risiko out in an integrated manner with a regular assessment
sesuai ketentuan PADK OJK 48/2025. Penilaian ini of the risk profile as outlined in PADK OJK 48/2025. This
mencakup evaluasi terhadap risiko inheren serta kualitas assessment includes an evaluation of inherent risks as
penerapan manajemen risiko dalam seluruh aktivitas well as the quality of risk management implementation
operasional. Selain penilaian pada tingkat korporasi, across all operational activities. In addition to the
Perseroan juga melakukan penilaian profil risiko secara assessment at the corporate level, the Company also
terpisah untuk Unit Usaha Syariah (UUS). conducts a separate risk profile assessment for the Sharia
Business Unit.
Walaupun Perseroan mengklasifikasikan 9 (sembilan) Even though the Company has classified 9 (nine) types of
taksonomi risiko, penilaian profil risiko dilakukan terhadap risk taxonomies, the risk profile assessment is conducted
8 (delapan) taksonomi yang selaras dengan karakter dan against 8 (eight) risk taxonomies in accordance with
kompleksitas bisnis, yaitu Risiko Kredit, Risiko Operasional, their relevance to the character and complexity of the
Risiko Pasar, Risiko Likuiditas, Risiko Hukum, Risiko Strategis, Company's business, namely: Credit Risk, Operational
Risiko Kepatuhan, dan Risiko Reputasi. Adapun penilaian Risk, Market Risk, Liquidity Risk, Legal Risk, Strategic Risk,
Risiko Penyertaan Modal diintegrasikan dalam profil Risiko Compliance Risk, and Reputational Risk. In addition,
Strategis. Perseroan juga mengelola Risiko Syariah serta the assessment of the Equity Investment Risk profile is
Risiko Lingkungan dan Sosial (ESS), yang termasuk dalam incorporated within the Strategic risk profile. The Company
cakupan Risiko Kredit. also manages risks related to Shariah Compliance and
Environmental and Social Sustainability (ESS), which are
considered part of the Credit Risk profile.
Profil risiko komposit yang dihasilkan dari seluruh The composite risk profile resulting from all risk taxonomies
taksonomi risiko ini menjadi dasar bagi Perseroan untuk serves as the basis for the Company to identify
mengidentifikasi potensi permasalahan yang dapat potential issues that may have a significant impact
berdampak signifikan terhadap kinerja, sehingga langkah on performance, enabling preventive and corrective
pencegahan dan perbaikan dapat dilakukan secara lebih measures to be implemented in a more timely, effective,
tepat, efektif, dan efisien. and efficient manner.
Tinjauan terhadap Efektivitas Sistem Review of the Effectiveness of the Risk
Manajemen Risiko, Termasuk Laporan Management System, Including Monitoring
Pemantauan RAS dan Profil Risiko Reports of the RAS and Risk Profile
Perseroan secara konsisten melakukan evaluasi berkala The Company consistently conducts periodic evaluations
atas efektivitas manajemen risiko. Evaluasi ini mencakup of the effectiveness of its risk management. This evaluation
peninjauan Risk Appetite Statement (RAS) dan Profil includes a review of the Risk Appetite Statement (RAS) and
Risiko agar tetap selaras dengan perkembangan the Risk Profile to ensure alignment with the Company’s
kondisi Perseroan dan ketentuan regulasi yang berlaku. evolving conditions and the applicable regulatory
Sepanjang tahun 2025, Perseroan telah menyelesaikan provisions. Throughout 2025, the Company completed
pembaruan atas RAS dan metodologi penilaian Profil updates to the RAS and the methodology for assessing PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Risiko, yang kemudian memperoleh persetujuan Direksi the Risk Profile, which subsequently received approval
dan telah dilaporkan kepada Dewan Komisaris sebagai from the Board of Directors and were reported to the
bagian dari upaya menjaga relevansi dan efektivitas Board of Commissioners as part of efforts to maintain
kerangka manajemen risiko. the relevance and effectiveness of the risk management
framework.
Untuk menilai kualitas penerapan manajemen risiko, To assess the quality of risk management implementation,
Perseroan juga melaksanakan pengukuran Indeks the Company also carried out a Risk Maturity Index (RMI)
Kematangan Risiko (Risk Maturity Index/RMI) melalui assessment through an independent consultant. The
konsultan independen. Hasil penilaian menunjukkan skor assessment resulted in a score of 3.7 out of 5, based on
3,7 dari skala 5, dengan acuan metodologi Peraturan the methodology set forth in Regulation of the Minister
Menteri BUMN No. PER-2/MBU/03/2023 tentang Pedoman of State-Owned Enterprises No. PER-2/MBU/03/2023
Tata Kelola dan Kegiatan Korporasi Signifikan BUMN concerning Guidelines for Governance and Significant
serta Petunjuk Teknis No. SK-8/DKU.MBU/12/2023 tentang Corporate Activities of State-Owned Enterprises
Penilaian Indeks Kematangan Risiko di Lingkungan BUMN. and Technical Guidance No. SK-8/DKU.MBU/12/2023
Nilai tersebut menempatkan PT SMI pada Fase Praktik concerning the Assessment of the Risk Maturity Index
yang Baik (+)/Good Practice (+) untuk tahun buku 2024, within State-Owned Enterprises. This score places PT SMI
sebagaimana dilaporkan kepada Dewan Komisaris in the Good Practice (+) phase for the 2024 fiscal year, as
melalui Surat No. S-711/SMI/DU/1125. reported to the Board of Commissioners through Letter 697
No. S-711/SMI/DU/1125.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Sejalan dengan hasil penilaian tersebut, Perseroan telah In line with these results, the Company has prepared the
menyusun Laporan Pemetaan Gap Kriteria Penilaian RMI 2024 RMI Assessment Criteria Gap Mapping Report and
Tahun 2024 dan menetapkan Aktivitas Perbaikan Utama determined Key Improvement Activities as the basis for
sebagai dasar peningkatan skor di periode mendatang. improving the score in the upcoming period. Throughout
Sepanjang tahun 2025, berbagai langkah perbaikan 2025, various improvement measures have been
telah dijalankan sesuai rekomendasi, mencerminkan implemented in accordance with the recommendations,
komitmen Perseroan dalam memperkuat kematangan reflecting the Company’s commitment to strengthening
dan efektivitas manajemen risiko guna mendukung the maturity and effectiveness of risk management to
keberlanjutan dan pertumbuhan bisnis. support sustainable growth and business development.
Laporan Pemantauan RAS RAS Monitoring Report
Laporan pemantauan RAS yang dilaporkan kepada Monitoring reports on the Risk Appetite Statement (RAS)
Direksi dilakukan secara triwulanan, dimana pada setiap submitted to the Board of Directors are conducted on a
periode pemantauan triwulanan tersebut sepanjang quarterly basis. During each quarterly monitoring period
tahun 2025 tidak terdapat RAS yang masuk kategori throughout 2025, there were no RAS categorized as Alert
Alert maupun Breach. Terdapat 1 (satu) penambahan or Breach. There was 1 (one) addition to the Company’s
jumlah RAS Perseroan pada Triwulan I 2025 menjadi 27 total number of RAS in Q1 of 2025, bringing the total to 27
(dua puluh tujuh). Pemantauan RAS Perseroan selama (twenty-seven). The monitoring of the Company’s RAS
tahun 2025 disampaikan sebagai berikut: throughout 2025 is presented as follows:
Chart hasil pemantauan RAS tahun 2025
Chart of the 2025 RAS Monitoring Results
Dalam Batasan
Within Limit Alert Breach
27 0 0
Nilai metrik RAS dalam batasan Nilai metrik RAS dalam batasan yang dapat diterima Perseroan namun perlu Nilai metrik RAS telah melampaui
yang dapat diterima Perseroan eskalasi kepada Direktur yang membidangi dan Direktur Manajemen Risiko batasan dan perlu eskalasi ke Direksi
RAS metric value has exceeded the limit
RAS metric value is within the RAS metric value is within the Company’s acceptable limit but needs to be
and needs to be escalated to the Board
escalated to the Director in Charge and Director of Risk Management
Company’s acceptable limit of Directors
Laporan Pemantauan Profil Risiko Risk Profile Monitoring Report
1. Laporan Pemantauan Profil Risiko Korporasi 1. Corporate Risk Profile Monitoring Report
a. Peringkat Komposit Profil Risiko a. Risk Profile Composite Ranking
Laporan pemantauan Profil Risiko yang dilaporkan Monitoring reports on the Risk Profile submitted
kepada Direksi dilakukan secara triwulanan, to the Board of Directors are conducted on a
dimana pada setiap periode pemantauan quarterly basis. During each quarterly monitoring
triwulanan tersebut sepanjang tahun 2025 period throughout 2025, the composite rating of
peringkat komposit Profil Risiko Korporasi terjaga the Corporate Risk Profile was maintained at “Rank
dalam ‘Peringkat 2’ (Risiko Inheren ‘Sedang 2” (Inherent Risk “Moderate to Low” and Quality of
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Rendah’ dan KPMR ‘Agak Kuat’). Risk Management Implementation “Satisfactory”).
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Kualitas Penerapan Manajemen Risiko (KPMR)
Quality of Risk Management Implementation
Agak
Kuat Agak Kuat Cukup Lemah
Lemah
Strong Satisfactory Fair Unsatisfacory
Marginal
Legend:
Rendah
Low Risiko
komposit
Composite
Sedang risk
Rendah Peringkat 1
Moderate to Rank 1
Low Peringkat 2
Rank 2 Menunjukkan
Risiko Peringkat 3 risiko yang
Sedang Peringkat 2
Rating 3
Inheren Tw1 s.d. Tw4 2025 semakin tinggi
Moderate Peringkat 4
Inherent Risk Rank 2 Indicates
Q1 until Q4 2025 Rank 4 increasing risk
Peringkat 5
Sedang
Rank 5
Tinggi
Moderate to
High
Tinggi
High
The composite rating of “Rank 2” reflects that,
Peringkat komposit “Peringkat 2” mencerminkan considering the Company’s business activities, the
bahwa, dengan mempertimbangkan aktivitas bisnis potential losses arising from inherent risks are at a
Perseroan, potensi kerugian dari risiko inheren berada low level over a certain period going forward. Overall,
pada tingkat rendah dalam periode waktu tertentu the quality of risk management implementation is
ke depan. Secara keseluruhan, kualitas penerapan assessed as adequate, although there are still several
manajemen risiko dinilai memadai, meskipun masih minor weaknesses that require management’s
terdapat beberapa kelemahan minor yang perlu attention.
menjadi perhatian manajemen.
To maintain the Risk Level (TKS) at “Rank 2”, the
Untuk menjaga TKS tetap berada pada “Peringkat Company will continue to strengthen the consistent
2”, Perseroan akan terus memperkuat penerapan implementation of risk management so that the
manajemen risiko secara konsisten sehingga composite risk rating across all risk taxonomies,
peringkat risiko komposit dari seluruh taksonomi including the Company’s Composite Risk Profile, can
risiko, termasuk Profil Risiko Komposit Perseroan, dapat be maintained at least at that level.
dipertahankan minimal pada level tersebut.
b. Risk Level by Risk Type
b. Profil Risiko per Jenis Risiko (Inherent, Quality of Risk Management
(Inheren, KPMR, Tingkat Risiko) Implementation, Risk Level) PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
The following table presents the risk profile of the
Berikut merupakan tabel profil risiko dari 8 jenis Company across 8 types of risk as of the end of
risiko Perseroan posisi akhir Desember 2025. December 2025.
Tabel Profil Risiko per Jenis Risiko
Table of Risk Profile by Risk Type
Individual
Individual
Profil Risiko
Risk Profile Peringkat Risiko Peringkat KPMR Peringkat Tingkat
Inheren Quality of Risk Management Risiko
Inherent Risk Rating Implementation Rating Risk Level Rating
Risiko Strategis Rendah Agak Kuat Peringkat 1
Strategic Risk Low Satisfactory Rank 1
Risiko Operasional Rendah Agak Kuat Peringkat 1
Operational Risk Low Satisfactory Rank 1
Risiko Kredit Sedang Rendah Agak Kuat Peringkat 1
Credit Risk Moderate to Low Satisfactory Rank 1
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tabel Profil Risiko per Jenis Risiko
Table of Risk Profile by Risk Type
Individual
Individual
Profil Risiko
Risk Profile Peringkat Risiko Peringkat KPMR Peringkat Tingkat
Inheren Quality of Risk Management Risiko
Inherent Risk Rating Implementation Rating Risk Level Rating
Risiko Pasar Sedang Rendah Agak Kuat Peringkat 2
Market Risk Moderate to Low Satisfactory Rank 2
Risiko Likuiditas Sedang Rendah Agak Kuat Peringkat 2
Liquidit Risk Moderate to Low Satisfactory Rank 2
Risiko Hukum Rendah Agak Kuat Peringkat 1
Legal Risk Low Satisfactory Rank 1
Risiko Kepatuhan Sedang Agak Kuat Peringkat 2
Compliance Risk Moderate Satisfactory Rank 2
Risiko Reputasi Rendah Agak Kuat Peringkat 1
Reputational Risk Low Satisfactory Rank 1
Peringkat Komposit Sedang Rendah Agak Kuat Peringkat 2
Composite Rating Moderate to Low Satisfactory Rank 2
2. Laporan Pemantauan Profil Risiko Individual UUS (Unit 2. Monitoring Report on the Individual Risk Profile of the
Usaha Syariah) Sharia Business Unit
Penilaian profil risiko UUS dilakukan dengan The assessment of the Sharia Business Unit’s risk
menggunakan indikator risiko inheren UUS yang profile is conducted using relevant the Sharia Business
relevan, serta indikator risiko inheren yang digunakan Unit’s inherent risk indicators, as well as inherent risk
dalam profil risiko korporasi. Sementara itu, penilaian indicators used in the corporate risk profile. Meanwhile,
KPMR (Kualitas Penerapan Manajemen Risiko) the assessment of the Quality of Risk Management
memakai data dan hasil penilaian yang sama Implementation (KPMR) uses the same data and
dengan korporasi, mengingat sejumlah aktivitas assessment results as those applied at the corporate
pengelolaan risiko dan operasional UUS masih berada level, considering that several Sharia Business Units risk
dalam cakupan korporasi. Pada akhir Desember 2025, management and operational activities remain within
total aset UUS tercatat sebesar 11,71% dari total aset the corporate scope. As of the end of December 2025,
Perseroan. the total assets of the Sharia Business Unit accounted
for 11.71% of the Company’s total assets.
a. Peringkat Komposit Profil Risiko a. Composite Rating of the Risk Profile
Laporan pemantauan Profil Risiko yang dilaporkan Monitoring reports on the Risk Profile submitted
kepada Direksi dilakukan secara triwulanan, to the Board of Directors are conducted on a
dimana pada setiap periode pemantauan quarterly basis. During each quarterly monitoring
triwulanan tersebut sepanjang tahun 2025 period throughout 2025, the composite rating of
peringkat komposit Profil Risiko Individual UUS the Individual Risk Profile of the Sharia Business
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
terjaga dalam ‘Peringkat 2’ (Risiko Inheren ‘Sedang Unit was maintained at “Rank 2” (Inherent Risk
Rendah’ dan KPMR ‘Agak Kuat’. “Moderate to Low” and Quality of Risk Management
Implementation “Satisfactory”).
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Kualitas Penerapan Manajemen Risiko (KPMR)
Quality of Risk Management Implementation
Agak
Kuat Agak Kuat Cukup Lemah
Lemah
Strong Satisfactory Fair Unsatisfacory
Marginal
Legend:
Rendah
Low Risiko
komposit
Composite
Sedang risk
Rendah Peringkat 1
Moderate to Rank 1
Low Peringkat 2
Rank 2 Menunjukkan
Risiko Peringkat 3 risiko yang
Sedang Rating 3
Inheren semakin tinggi
Moderate Peringkat 4
Inherent Risk Indicates
Peringkat 2 Rank 4 increasing risk
Tw1 s.d. Tw4 2025 Peringkat 5
Sedang Rank 2 Rank 5
Tinggi Q1 until Q4 2025
Moderate to
High
Tinggi
High
Peringkat komposit “Peringkat 2” menunjukkan The composite rating of “Rank 2” indicates that,
bahwa, dengan mempertimbangkan aktivitas taking into account the Company’s business
bisnis Perseroan, potensi kerugian dari risiko activities, the potential losses arising from inherent
inheren secara keseluruhan berada pada tingkat risks overall are at a low level over the upcoming
rendah dalam periode waktu mendatang. period. The implementation of risk management is
Penerapan manajemen risiko dinilai memadai assessed as adequate, although there are several
meskipun terdapat beberapa kelemahan minor minor weaknesses that still require management’s
yang tetap memerlukan perhatian manajemen. attention.
b. Profil Risiko per Jenis Risiko b. Risk Level by Risk Type
(Inheren, KPMR, Tingkat Risiko) (Inherent, Quality of Risk Management
Implementation, Risk Level)
Berikut merupakan tabel profil risiko dari 8 jenis The following table presents the risk profile of the
risiko Individual UUS posisi akhir Desember 2025 Company across 8 types of risk as of the end of
December 2025.
Tabel Profil Risiko per Jenis Risiko
Table of Risk Profile by Risk Type PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
UUS
Sharia Business Unit
Profil Risiko Peringkat KPMR
Risk Profile Peringkat Risiko Inheren Quality of Risk Peringkat Tingkat Risiko
Inherent Risk Rating Management Risk Level Rating
Implementation Rating
Risiko Strategis Rendah Agak Kuat Peringkat 1
Strategic Risk Low Satisfactory Rank 1
Risiko Operasional Rendah Agak Kuat Peringkat 1
Operational Risk Low Satisfactory Rank 1
Risiko Kredit Sedang Rendah Agak Kuat Peringkat 2
Credit Risk Moderate to Low Satisfactory Rank 2
Risiko Pasar Sedang Rendah Agak Kuat Peringkat 2
Market Risk Moderate to Low Satisfactory Rank 2
Risiko Likuiditas Sedang Rendah Agak Kuat Peringkat 2
Liquidit Risk Moderate to Low Satisfactory Rank 2
Risiko Hukum Rendah Agak Kuat Peringkat 1
Legal Risk Low Satisfactory Rank 1
701
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05 Tata Kelola Perusahaan
Good Corporate Governance
Tabel Profil Risiko per Jenis Risiko
Table of Risk Profile by Risk Type
UUS
Sharia Business Unit
Profil Risiko Peringkat KPMR
Risk Profile Peringkat Risiko Inheren Quality of Risk Peringkat Tingkat Risiko
Inherent Risk Rating Management Risk Level Rating
Implementation Rating
Risiko Kepatuhan Sedang Rendah Agak Kuat Peringkat 2
Compliance Risk Moderate to Low Satisfactory Rank 2
Risiko Reputasi Rendah Agak Kuat Peringkat 1
Reputational Risk Low Satisfactory Rank 1
Peringkat Komposit Sedang Rendah Agak Kuat Peringkat 2
Composite Rating Moderate to Low Satisfactory Rank 2
Inisiatif Pengelolaan Manajemen Risiko Risk Management Initiatives
Dalam upaya memperkuat efektivitas pengelolaan risiko, In an effort to strengthen the effectiveness of risk
Perseroan pada tahun 2025 telah melaksanakan 16 management, in 2025 the Company implemented 16
(enam belas) inisiatif manajemen risiko sebagai berikut: (sixteen) risk management initiatives as follows:
Inisiatif Output Inisiatif
No. Initiative Output
Initiative
Penilaian RMI kinerja tahun buku 2024 (dengan bantuan konsultan
eksternal) dan dukungan terhadap aktivitas Perbaikan Utama RMI dari
Laporan Risk Maturity Index (RMI) tahun 2025
penilaian RMI kinerja tahun buku 2023
(berdasarkan kinerja tahun buku 2024
1 Assessment of the Risk Maturity Index (RMI) for the 2024 fiscal year (with
Risk Maturity Index (RMI) Report for 2025 (based
the support of an external consultant) and support for the implementation
on performance in the 2024 fiscal year)
of Key Improvement Activities resulting from the RMI assessment for the
2023 fiscal year.
Fase 1 :
Pengembangan framework, metodologi, dan Framework dan metodologi ICoFR
perancangan IcoFR Perancangan Business Process Mapping (BPM) & Risk Control Matrix (RCM)
2 Development of the framework, methodology, Phase 1:
and design of Internal Control over Financial Framework and methodology for Internal Control over Financial Reporting
Reporting (ICoFR) (ICoFR)
Design of Business Process Mapping (BPM) and Risk Control Matrix (RCM)
Penguatan metodologi, Tata Kelola, dan penerapan limit VaR untuk
Pengembangan tools Value at Risk (VaR) untuk portfolio Obligasi serta penyusunan kertas kerja sebagai tools untuk
portfolio Obligasi perhitungan nilai VaR.
3
Development of Value at Risk (VaR) tools for the Strengthening of the methodology, governance, and implementation of
bond portfolio VaR limits for the bond portfolio, as well as preparation of working papers
as tools for calculating the Value at Risk (VaR).
Pengembangan metodologi dan tools Rating
Tersedianya metodologi, tools, dokumentasi model, dan juknis
Internal Pembiayaan Publik untuk BLU/D RS dan
pelaksanaan Rating Internal Pembiayaan Publik untuk BLU/D RS dan PDAM
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
PDAM
4 Availability of methodology, tools, model documentation, and technical
Development of methodology and internal
guidelines for the implementation of Internal Rating for Public Financing
rating tools for Public Financing for BLU/Regional
for Regional Public Service Agency (BLU/D), Regional Hospitals and PDAM.
Hospitals and PDAM
Kegiatan dukungan penyusunan • Prosedur Pembiayaan Publik Syariah
Kebijakan Perseroan terkait proses rencana • Kebijakan terkait pembiayaan dan pengelolaan dana sesuai
bisnis Perseroan rekomendasi OJK
5
Support activities for the preparation of Company • Sharia Public Financing Procedure
policies related to the Company’s business • Policies related to financing and fund management in accordance
planning process with the recommendations of the Financial Services Authority
Pelaksanaan capacity building (workshop/training) terkait Early Warning
Signals atas Fasilitas Pembiayaan debitur, yang diharapkan dapat
meningkatkan pengetahuan/keahlian peserta untuk mengetahui secara
Capacity Building terkait Early Warning Signals
lebih dalam mengenai early warning signals dari kondisi keuangan dan
Pembiayaan
6 non keuangan debitur.
Capacity building related to Financing Early
Implementation of capacity building (workshops/training) related to
Warning Signals
Early Warning Signals for debtor financing facilities, aimed at enhancing
participants’ knowledge and expertise in identifying early warning signals
from both the financial and non-financial conditions of debtors.
Penyesuaian Prosedur Pengelolaan Pembiayaan
Penyesuaian prosedur PPK sebagai bentuk adaptif transformasi PT SMI
Khusus (PPK)
7 Adjustment of the Special Financing Management Procedure (PPK) as part
Adjustment of the Special Financing Management
of PT SMI’s adaptive transformation.
Procedure (PPK)
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Inisiatif Output Inisiatif
No. Initiative Output
Initiative
Peningkatan kemampuan staf untuk mengetahui secara mendalam
kegiatan monitoring di Debitur Bermasalah yang dapat mengoptimalkan
Secondment staff SMI di Debitur Bermasalah peluang recovery pembiayaan bermasalah.
8
Secondment of SMI staff to troubled debtors Capacity development of staff to gain deeper understanding
of monitoring activities for troubled debtors, in order to optimize
opportunities for the recovery of problematic financing.
Implementasi database Kinerja Operasional Debitur dan Investee
pada sektor industri jalan tol dan ketenagalistrikan untuk meningkatkan
Pengembangan sistem database monitoring
disiplin dan automasi pelaporan dalam rangka monitoring portfolio
Kinerja Operasional Debitur dan Investee pada
pembiayaan dan investasi pada 2 sektor industri terbesar di PT SMI (jalan
sektor industri jalan tol dan ketenagalistrikan.
tol, ketenagalistrikan)
9 Development of a database monitoring system
Implementation of a database system for monitoring the operational
for the operational performance of debtors and
performance of debtors and investees in the toll road and electricity
investees in the toll road and electricity industry
industry sectors, aimed at improving discipline and automating reporting
sectors
for monitoring financing and investment portfolios in the two largest
industry sectors of PT SMI (toll roads and electricity).
Pelaksanaan EAM periode 2025 meliputi pembahasan sbb:
• Monitoring kedisiplinan pelaksanaan EWS
• Eskalasi (dispute) output EWS
• Debitur watchlist baru
• Debitur dengan potensi penurunan kualitas pembiayaan yang belum
tertangkap pada sistem EWS.
Pelaksanaan Early Alert Meeting (EAM)
10 Implementation of Early Alert Meetings (EAM) in 2025, covering
Implementation of Early Alert Meeting (EAM)
discussions on:
• Monitoring the discipline of EWS implementation
• Escalation (dispute) of EWS outputs
• New watchlist debtors
• Debtors with potential deterioration in financing quality that have not
yet been captured by the EWS system
Pelaksanaan Capacity Building Perkuatan Pemahaman Ekosistem
Pembiayaan Pemda dan BLU untuk meningkatkan kompetensi karyawan
dalam memberikan pembiayaan terhadap Pemerintah Daerah dan
BLU/BLUD untuk dapat memberikan skema pembiayaan yang prudent
dengan risiko yang termitigasi. Capacity Building ini juga bertujuan untuk
meningkatkan pemahaman mengenai penyajian laporan keuangan dan
alur penganggaran BLU/BLUD dan Pemda.
11 Capacity Building – Risk Awareness Implementation of Capacity Building on Strengthening Understanding
of the Regional Government and Financing Ecosystem of Public Service
Agency (BLU) to develop employees’ competencies in providing financing
to Regional Governments and Public Service Agency (BLU)/Regional
Public Service Agency (BLUD), enabling the provision of prudent financing
schemes with mitigated risks. This capacity building also aims to improve
understanding of financial statement presentation and budgeting
processes of BLU/BLUD and Regional Governments.
Implementasi metodologi, pengembangan sistem aplikasi, penyusunan
juknis, dan pelaksanaan capacity building terkait E&S Rating untuk
Implementasi E&S Rating penilaian kinerja pengelolaan risiko lingkungan dan sosial debitur.
12 Implementation of Environmental and Social Implementation of methodology, development of application systems,
Rating (E&S Rating) preparation of technical guidelines, and capacity building related
to Environmental and Social Rating (E&S Rating) for assessing the
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
performance of environmental and social risk management of debtors.
Ketersediaan Kajian Climate Risk Stress Testing (CRST) sebagai referensi
Kajian penyusunan Climate Risk Stress Testing penyusunan CRST secara Korporasi dan pengembangan climate
(CRST) assessment framework
13
Study on the development of Climate Risk Stress Availability of a Climate Risk Stress Testing (CRST) study as a reference for
Testing (CRST) the preparation of corporate-level CRST and the development of a climate
assessment framework.
Pelaksanaan workshop ESS tematik: (1) Kesetaraan gender dan inklusi
sosial, (2) Inventarisasi Emisi Gas Rumah Kaca (GRK) dan peluang
monetisasi pada sektor Energi Baru dan Terbarukan (EBT), (3) Risiko
Pelaksanaan workshop ESS tematik biodiversitas pada sektor tertentu, (4) Warisan Budaya
14
Implementation of thematic ESS workshops Implementation of thematic ESS workshops, covering: (1) Gender equality
and social inclusion, (2) Greenhouse Gas (GHG) emissions inventory and
monetization opportunities in the New and Renewable Energy (NRE) sector,
(3) Biodiversity risk in certain sectors, and (4) Cultural heritage
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05 Tata Kelola Perusahaan
Good Corporate Governance
Inisiatif Output Inisiatif
No. Initiative Output
Initiative
• Pemahaman kerangka dan standar pelaporan TNFD
Pengembangan pilot project pengukuran • Persiapan dan assessment awal untuk pelaporan TNFD
peningkatan kualitas biodiversitas dan persiapan • Pengukuran awal ketergantungan dan dampak Portofolio terhadap
penyusunan pelaporan kerangka pengungkapan nature (Biodiversitas dan Sumber Daya Alam) serta identifikasi awal
terkait nature yaitu TNFD (Taskforce on Nature- risiko dan peluang untuk pengembangan bisnis
related Financial Disclosures) • Understanding the TNFD reporting framework and standards
15
Development of a pilot project to measure • Preparation and initial assessment for TNFD reporting
improvements in biodiversity quality and • Initial measurement of portfolio dependency and impact on nature
preparation for reporting under the Taskforce (biodiversity and natural resources), as well as initial identification of
on Nature-related Financial Disclosures (TNFD) risks and opportunities for business development.
framework • Provision of recognition to debtors and the Company’s Relationship
Managers for the implementation of thematic ESS.
Pemberian apresiasi kepada debitur dan Relationship Manager Perseroan
Pemberian apresiasi atas penerapan ESS tematik
atas penerapan ESS tematik
16 Provision of recognition for the implementation of
Provision of recognition to debtors and the Company’s Relationship
thematic ESS
Managers for the implementation of thematic ESS.
Selain kegiatan inisiatif di atas, berikut merupkan kegiatan In addition to the initiatives described above, the following
pengelolaan risiko lainnya yang dilakukan selama tahun risk management activities were carried out during 2025:
2025:
1. Perhitungan financed emission PT SMI pada tahun 1. Calculation of PT SMI’s financed emissions for 2024,
2024, yaitu emisi cakupan 3 dari aktivitas pembiayaan namely Scope 3 emissions arising from the financing
dan investasi yang dilakukan PT SMI selama tahun and investment activities conducted by PT SMI
2024, mengacu pada standar yang dikeluarkan oleh during 2024, referring to the standards issued by the
Partnership for Carbon Accounting Financials (PCAF). Partnership for Carbon Accounting Financials (PCAF).
2. Dukungan terhadap skema Geothermal Resource 2. Support for the Geothermal Resource Risk Mitigation
Risk Mitigation (GREM) untuk proyek GREM Cimanggu, (GREM) scheme for the GREM Cimanggu, Wapsalit, and
Wapsalit, dan Jailolo; yang merupakan instrumen Jailolo projects, which serves as a strategic instrument
strategis dalam pengelolaan risiko pengembangan in managing risks in national geothermal development
panas bumi nasional yang dirancang untuk designed to reduce resource uncertainty and enhance
menurunkan tingkat ketidakpastian sumber daya dan the investment feasibility of the geothermal sector.
meningkatkan kelayakan investasi sektor panas bumi. GREM functions not only as a financing mechanism for
GREM tidak hanya berfungsi sebagai mekanisme exploration risk mitigation but also as an integral part
pembiayaan mitigasi risiko eksplorasi, tetapi sebagai of a comprehensive and analysis-based geothermal
bagian integral dari kerangka manajemen risiko project risk management framework.
proyek panas bumi yang komprehensif dan berbasis
analisis.
3. Dukungan atas pelaksanaan ESG Rating PT SMI 3. Support for the implementation of PT SMI’s ESG
yang dilakukan oleh MSCI (Morgan Stanley Capital Rating conducted by MSCI (Morgan Stanley Capital
International). Selain itu, Perseroan juga melakukan International). In addition, the Company also carried
penilaian ESG untuk Investasi Pemerintah pada BUMN out ESG assessments for Government Investments in
di bawah Kementerian Keuangan secara mandiri State-Owned Enterprises under the Ministry of Finance
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
dengan menggunakan framework dan metodologi independently using the framework and methodology
dari Kementerian Keuangan. from the Ministry of Finance.
4. Penyusunan Laporan Kinerja Perlindungan Lingkungan 4. Preparation of the Environmental and Social Safeguard
dan Sosial (Environmental and Social Safeguard Performance Report as one of the means to evaluate
Performance Report ) sebagai salah satu cara the implementation of environmental and social
untuk melakukan evaluasi penerapan perlindungan safeguards in the Company’s activities in providing
lingkungan dan sosial pada kegiatan Perseroan financing and investment, project development, and
dalam memberikan pembiayaan dan investasi, advisory services.
pengembangan proyek, dan penyediaan jasa
konsultasi.
5. Inisiasi pelaksanaan monitoring pencapaian carbon 5. Initiation of monitoring activities for PT SMI’s carbon
neutral PT SMI, salah satunya melakukan pemantauan neutral achievement, including periodic monitoring
secara berkala (periode 2025) terhadap efektivitas (during 2025) of the effectiveness of emission
upaya reduksi dan kompensasi emisi yang telah reduction and compensation efforts implemented
dilaksanakan oleh PT SMI. by PT SMI.
6. Pelaksanaan replanting (pohon mati) dan 6. Implementation of replanting (replacement of dead
pelaksanaan program rehabilitasi lahan kritis di trees) and monitoring of the critical land rehabilitation
Provinsi Jawa Barat, yang merupakan pemantauan program in West Java Province, which involves
secara berkala terhadap pelaksanaan program periodic monitoring of the implementation of critical
704 restorasi lahan kritis di Prov. Jawa Barat. land restoration programs in West Java Province.
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7. Pemberian dukungan untuk penyusunan 7. Provision of support for the preparation of the 2025
Sustainable Funding Framework 2025 untuk kegiatan Sustainable Funding Framework for the Company’s
penghimpunan dana Perseroan dan dukungan fund-raising activities and support for Sustainability
untuk melalui pemilihan dan penerbitan Bond issuance through the selection and issuance of
(underlying projects) atas Obligasi Keberlanjutan underlying projects for the Sarana Multi Infrastruktur
Berkelanjutan I Sarana Multi Infrastruktur Tahap I Shelf Registration Bonds I Tranche I Year 2025
Tahun 2025 (“Obligasi Keberlanjutan”). (“Sustainability Bonds”).
8. Penerapan SMK3 berbasis PP No. 50/2012 (64 kriteria) 8. Implementation of the Occupational Health and Safety
pada PT Sarana Multi Infrastruktur (Persero) dengan Management System (SMK3) based on Government
ruang lingkup mencakup seluruh aktivitas di area Regulation No. 50 of 2012 (64 criteria) at PT Sarana
kerja kantor Perseroan, dengan rangkaian kegiatan Multi Infrastruktur (Persero), covering all activities
utama berupa audit internal, tindak lanjut perbaikan within the Company’s office work areas, with key
(corrective action), management review, dan audit activities including internal audits, corrective actions,
eksternal, dan PT SMI telah direkomendasikan untuk management reviews, and external audits, and PT SMI
memperoleh sertifikasi SMK3. has been recommended to obtain SMK3 certification.
9. Terkait Pengarusutamaan Kesetaraan Gender dan 9. In relation to Gender Equality and Social Inclusion
Inklusi Sosial, PT SMI mengadakan kegiatan Respectful mainstreaming, PT SMI conducted Respectful
Workplace Training, pembuatan media komunikasi Workplace Training, developed communication
untuk mempromosikan serta menyampaikan media to promote and convey messages to the
pesan kepada publik tentang Pengarusutamaan public regarding Gender Equality and Social Inclusion
Kesetaraan Gender dan Inklusi Sosial melalui Video mainstreaming through the Gender Equality and Social
Program Pengarusutamaan Kesetaraan Gender & Inclusion Program Video at PT SMI, organized a Gender
Inklusi sosial di PT SMI, Gender Workshop dengan Workshop with the theme “Implementing Gender and
tema “Implementing Gender and Social Inclusion Social Inclusion & SDG Indicators in Infrastructure
& SDG Indicators in Infrastructure Projects“, serta Projects,” and prepared Gender Assessments for PT
penyusunan Gender Asessment untuk debitur PT SMI debtors in line with the implementation of the
SMI sejalan dengan implementasi program SIO-GFF. SIO-GFF program.
PERNYATAAN MANAJEMEN MANAGEMENT STATEMENT ON
ATAS KECUKUPAN SISTEM THE ADEQUACY OF THE RISK
MANAJEMEN RISIKO MANAGEMENT SYSTEM
Perseroan menempatkan penguatan manajemen risiko The Company places the strengthening of risk
sebagai bagian penting dari efektivitas pengelolaan management as an important component in ensuring the
usaha. Sepanjang tahun 2025, evaluasi rutin atas RAS dan effectiveness of business management. Throughout 2025,
Profil Risiko menunjukkan bahwa seluruh indikator berada routine evaluations of the Risk Appetite Statement (RAS)
pada tingkat yang terjaga, sehingga mencerminkan and Risk Profile indicated that all indicators remained at
penerapan manajemen risiko yang memadai dan maintained levels, reflecting that the implementation
berjalan efektif. Direksi dan Dewan Komisaris juga menilai of risk management was adequate and effective. The
bahwa Direktorat Manajemen Risiko bersama seluruh lini Board of Directors and the Board of Commissioners
pertahanan dalam kerangka three lines of defense telah also assess that the Directorate of Risk Management,
menjalankan fungsi pengawasan dan pengendalian together with all lines of defense within the three lines PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
secara optimal untuk memastikan kecukupan of defense framework, has carried out its oversight and
pengelolaan risiko serta efektivitas pengendalian internal. control functions optimally to ensure the adequacy of risk
management and the effectiveness of internal control.
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05 Tata Kelola Perusahaan
Good Corporate Governance
AKUNTAN PUBLIK
PUBLIC ACCOUNTANT
DASAR PENUNJUKAN KAP BASIS FOR THE APPOINTMENT OF
PUBLIC ACCOUNTING FIRM
PT SMI menunjuk Kantor Akuntan Publik (KAP) independen PT SMI appoints an independent Public Accounting Firm
untuk memastikan akurasi dan kepatuhan Laporan (KAP) to ensure the accuracy of the Financial Statements
Keuangan terhadap standar akuntansi yang berlaku di and their compliance with accounting standards
Indonesia. Penunjukan dilakukan setiap akhir tahun buku applicable in Indonesia. The appointment is made
sesuai Peraturan Otoritas Jasa Keuangan No. 9 Tahun at the end of each financial year in accordance with
2023 tentang Penggunaan Jasa Akuntan Publik dan Regulation of the Financial Services Authority No. 9 of 2023
Kantor Akuntan Publik dalam Kegiatan Jasa Keuangan. concerning the Use of Public Accountant Services and
Selain mengaudit Laporan Keuangan, KAP juga melakukan Public Accounting Firms in Financial Services Activities.
pemeriksaan atas sejumlah aspek operasional yang In addition to auditing the Financial Statements, the
memerlukan penilaian independen terkait kewajaran Public Accounting Firm also conducts examinations of
dan kesesuaian dengan standar yang berlaku. several operational aspects that require an independent
assessment regarding their fairness and compliance with
applicable standards.
Di tahun 2025, Perseroan menetapkan Kantor Akuntan In 2025, the Company appointed Public Accounting Firm
Publik (KAP) Amir Abadi Jusuf, Aryanto, Mawar dan Rekan Amir Abadi Jusuf, Aryanto, Mawar and Partner (KAP RSM
(KAP RSM Indonesia) sebagai auditor independen untuk Indonesia) as the independent auditor for the audit of
pemeriksaan Laporan Keuangan dan Kegiatan Usaha the 2025 Financial Statements and Business Activities.
Tahun 2025. Penetapan ini dituangkan dalam Keputusan This appointment was stipulated in the General Meeting
Rapat Umum Pemegang Saham No. 429/MK/KN/2025 of Shareholders Resolution No. 429/MK/KN/2025 dated
tanggal 7 Desember 2025 KAP Amir Abadi Jusuf, Aryanto, December 7, 2025. Public Accounting Firm Amir Abadi
Mawar dan Rekan (KAP RSM Indonesia) dipilih karena Jusuf, Aryanto, Mawar and Partner (KAP RSM Indonesia)
telah memenuhi seluruh persyaratan regulator dan was selected as it has fulfilled all regulatory requirements
tercatat sebagai kantor akuntan publik independen di and is registered as an independent public accounting
Otoritas Jasa Keuangan, sehingga mampu memastikan firm with the Financial Services Authority, thereby ensuring
proses audit yang objektif dan sesuai standar. that the audit process is conducted objectively and in
accordance with applicable standards.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
706
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RINCIAN KAP, AP, NOMOR IZIN AP, DETAILS OF PUBLIC ACCOUNTING
DAN BIAYA JASA AUDIT DALAM FIRM, PUBLIC ACCOUNTANT, PUBLIC
KURUN 5 TAHUN TERAKHIR ACCOUNTANT LICENSE NUMBER, AND
AUDIT FEES IN THE LAST 5 YEARS
Kantor Akuntan Akuntan Publik
Nomor Izin
Tahun Publik yang Pelaksana Audit Biaya Jasa Opini KAP
Akuntan Publik
Buku Ditunjuk Public Audit Public Accounting Firm’s
Public Accountant
Fiscal Year Appointed Public Accountant Audit Fee Opinion
License Number
Accounting Firm Auditor
Laporan keuangan disajikan
secara wajar, dalam semua
hal yang material, posisi
keuangan Perusahaan
tanggal 31 Desember 2025,
serta kinerja keuangan
dan arus kasnya untuk
Amir Abadi Jusuf,
tahun yang berakhir pada
Aryanto, Mawar dan
tanggal tersebut, sesuai
Rekan (KAP RSM
dengan Standar Akuntansi
Indonesia) Rp2.301.030.000
2025 Chairul Wismoyo AP.1698 Keuangan Indonesia.
Amir Abadi Jusuf, IDR2,301,030,000
The financial statements
Aryanto, Mawar and
present fairly, in all material
Partner (KAP RSM
respects, the Company’s
Indonesia)
financial position as of
December 31, 2025, as well
as its financial performance
and cash flows for the year
then ended, in accordance
with Indonesian Financial
Accounting Standards.
Menyajikan secara wajar,
dalam semua hal yang
material, posisi keuangan
Perusahaan tanggal 31
Desember 2024, serta
kinerja keuangan dan
arus kasnya untuk tahun
yang berakhir pada
tanggal tersebut, sesuai
Gani Sigiro & dengan Standar Akuntansi
Rotua Ratna Rp1.839.672.885
2024 Handayani AP.0571 Keuangan di Indonesia.
Simanjuntak IDR1,839,672,885
(Grant Thornton) The financial statements
present fairly, in all material
respects, the Company’s
financial position as of
December 31, 2024, as well
as its financial performance
and cash flows for the year
then ended, in accordance
with Indonesian Financial
Accounting Standards.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Menyajikan secara wajar,
dalam semua hal yang
material, posisi keuangan
Perusahaan tanggal 31
Desember 2023, serta kinerja
keuangan dan arus kasnya
untuk tahun yang berakhir
pada tanggal tersebut,
sesuai dengan Standar
Gani Sigiro & Akuntansi Keuangan di
Rotua Ratna Rp1.781.700.000
2023 Handayani AP.0571 Indonesia.
Simanjuntak IDR1,781,700,000
(Grant Thornton) The financial statements
present fairly, in all material
respects, the Company’s
financial position as of
December 31, 2023, as well
as its financial performance
and cash flows for the year
then ended, in accordance
with Indonesian Financial
Accounting Standards.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Kantor Akuntan Akuntan Publik
Nomor Izin
Tahun Publik yang Pelaksana Audit Biaya Jasa Opini KAP
Akuntan Publik
Buku Ditunjuk Public Audit Public Accounting Firm’s
Public Accountant
Fiscal Year Appointed Public Accountant Audit Fee Opinion
License Number
Accounting Firm Auditor
Laporan keuangan
menyajikan secara wajar,
Amir Abadi Jusuf, dalam semua hal yang
Aryanto, Mawar dan material untuk tahun yang
Rekan (RSM) Rp1.499.856.000 berakhir pada tanggal 31
2022 Bimo Iman Santoso AP.1298
Amir Abadi Jusuf, IDR1,499,856,000 Desember 2022.
Aryanto, Mawar and The financial statements
Partner (RSM) present fairly, in all material
respects, for the year ended
December 31, 2022.
Laporan keuangan
Amir Abadi Jusuf,
menyajikan secara wajar
Aryanto, Mawar dan
dalam semua hal yang
Rekan (RSM) Rp1.098.000.000
2021 Bimo Iman Santoso AP.1298 material.
Amir Abadi Jusuf, IDR1,098,000,000
The financial statements
Aryanto, Mawar and
present fairly, in all material
Partner (RSM)
respects.
Jasa Lain yang Diberikan Other Services Provided
Kantor Akuntan Publik Amir Abadi Jusuf, Aryanto, Mawar Public Accounting Firm Amir Abadi Jusuf, Aryanto,
dan Rekan (KAP RSM Indonesia) juga melaksanakan Mawar and Partner (KAP RSM Indonesia) also performed
berbagai layanan assurance tambahan atas sejumlah various additional assurance services on several of the
laporan operasional Perseroan. Adapun ruang lingkup Company’s operational reports. The scope of these
layanan tersebut mencakup: services includes:
Nama Laporan
No.
Report Name
Laporan Keuangan PT SMI per 31 Desember 2025
1
PT SMI’s Financial Statements as of December 31, 2025
Laporan Evaluasi Kinerja PT SMI
2
PT SMI’s Performance Evaluation Report
Laporan Capaian Kinerja Dewan Komisaris
3
Performance Achievement Report of the Board of Commissioners
Laporan Kepatuhan Terhadap Peraturan Perundang-undangan
4
Compliance Report with Laws and Regulations
Laporan Sistem Pengendalian Internal
5
Internal Control System Report
Laporan Pengelolaan Dana Pembiayaan Infrastruktur Sektor Panas Bumi (PISP)
6
Infrastructure Financing Fund Management Report for the Geothermal Sector (PISP)
Laporan Informasi Nilai Investasi Pemerintah Dalam Rangka Pelaksanaan Program Pemulihan Ekonomoi Nasional (PEN)
7
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Report on Government Investment Value Information in the Implementation of the National Economic Recovery (PEN) Program
Laporan Keuangan Program Tanggung Jawab Sosial dan Lingkungan (TJSL)
8
Financial Statements of the Social and Environmental Responsibility Program (TJSL)
Laporan Kepatuhan terhadap Perjanjian Pembiayaan dan Kuasi Ekuitas dengan Agence Francaise de Developpement (AFD)
9
Compliance Report with Financing and Quasi-Equity Agreements with Agence Française de Développement (AFD)
Laporan Penerapan Prosedur yang Disepakati untuk Periode Triwulan IV Tahun 2025
10
Report on the Application of Agreed-Upon Procedures for Q4 of 2025
Laporan Penggunaan Dana Sustainable Development Goals Indonesia One-Green Finance Facility (SIO GFF)
11
Report on the Use of Funds for the Sustainable Development Goals Indonesia One-Green Finance Facility (SIO GFF)
INFORMASI BIAYA JASA INFORMATION ON AUDIT
AUDIT TAHUN 2025 SERVICE FEES FOR 2025
RUPS menyetujui imbal jasa audit kepada KAP Amir The General Meeting of Shareholders (GMS) approved the
Abadi Jusuf, Aryanto, Mawar dan Rekan (KAP RSM audit service fee for Public Accounting Firm Amir Abadi
Indonesia) dengan nilai Rp2.301.030.000 termasuk Pajak Jusuf, Aryanto, Mawar and Partner (KAP RSM Indonesia)
Pertambahan Nilai (PPN). amounting to IDR2,301,030,000, including Value Added
Tax (VAT).
708
Page 439
PERKARA PENTING DAN
SANKSI ADMINISTRATIF
LEGAL DISPUTES AND ADMINISTRATIVE SANCTIONS
PERKARA PENTING YANG DIHADAPI LEGAL DISPUTES FACED BY THE
OLEH PERSEROAN, TERMASUK COMPANY, INCLUDING BY THE
OLEH DEWAN KOMISARIS DAN BOARD OF COMMISSIONERS AND
DIREKSI DI TAHUN 2025 BOARD OF DIRECTORS IN 2025
Dalam menjalankan aktivitas bisnisnya, Perseroan In conducting its business activities, the Company places
menempatkan kepatuhan hukum sebagai fondasi legal compliance as a fundamental pillar to protect
utama guna melindungi nama baik perusahaan the Company’s reputation while ensuring business
sekaligus menjamin kesinambungan usaha. Setiap sustainability. Each operational process is directed to
proses operasional diarahkan untuk selaras dengan align with the applicable legal and regulatory framework,
kerangka hukum dan regulasi yang berlaku, disertai accompanied by structured and proactive legal risk
pengelolaan risiko hukum yang terstruktur dan proaktif management so that potential exposures can be
agar potensi eksposur dapat diantisipasi sejak dini. anticipated at an early stage. This approach, supported
Pendekatan ini, yang ditopang oleh penerapan tata by the implementation of solid corporate governance and
kelola perusahaan yang solid dan disiplin kepatuhan continuous compliance discipline, enables the Company
yang berkesinambungan, memungkinkan Perseroan to maintain a high level of integrity and credibility while
mempertahankan tingkat integritas dan kredibilitas yang strengthening stakeholder trust, as reflected in the
tinggi serta memperkuat kepercayaan para pemangku following summary of disclosures over the past two years:
kepentingan, sebagaimana tercermin dalam rangkuman
pengungkapan dua tahun terakhir berikut ini:
2025 2024
Permasalahan Hukum
Legal Dispute Perdata Pidana Perdata Pidana
Civil Criminal Civil Criminal
Selesai dan telah mempunyai
kekuatan hukum tetap 2 (dua) Nihil Nihil Nihil
Resolved and has obtained 2 (two) Nill Nill Nill
final and binding legal force
Dalam proses penyelesaian 1 (satu) Nihil Nihil Nihil
Under settlement process 1 (one) Nill Nill Nill
Jumlah 3 (tiga) Nihil Nihil Nihil
Total 3 (three) Nill Nill Nill PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
709
Page 440
05 Tata Kelola Perusahaan
Good Corporate Governance
Perkara Perdata
Civil Cases
Dampak Terhadap
Pokok Perkara Perseroan dan Tindak
Pihak yang Berperkara Status Perkara
No Subject Matter of
Case Status
Lanjut
Litigating Party
the Case Impact on the Company
and Follow-Up Actions
Terdapat Relaas
Pemberitahuan Isi Pencabutan
Tingkat Pertama Nomor 67/
Penggugat: Pdt.G/2025/PN Pso tanggal 10
1. PT Jaya Semanggi Engineering Oktober 2025 dari Pengadilan
Negeri Poso yang berisi antara
Para Tergugat: lain:
1. Yoppy Sulaiman (Tergugat I); 1. Mengabulkan
2. Dinas Kesehatan Poso (Tergugat II); permohonan pencabutan
3. PT Sarana Multi Infrastruktur (Persero) gugatan dari Penggugat.
(Tergugat III); 2. Menyatakan perkara
4. PT Mahakarya Abadi Konsultan perdata gugatan perkara
Gugatan dicabut oleh
(Tergugat IV). Gugatan Wanprestasi Nomor 67/Pdt.G/2025/PN
Penggugat
1 Breach of Contract Pso dicabut.
Claim withdrawn by
Plaintiff: Claim There is a Notice of Withdrawal
the Plaintiff
1. PT Jaya Semanggi Engineering at the First Instance No. 67/
Pdt.G/2025/PN Pso dated
Defendants: October 10, 2025 from the Poso
1. Yoppy Sulaiman (Defendant I) District Court, which states,
2. Poso Health Office (Defendant II) among others:
3. PT Sarana Multi Infrastruktur (Persero) 1. Granting the Plaintiff’s
(Defendant III) request to withdraw the
4. PT Mahakarya Abadi Konsultan claim.
(Defendant IV) 2. Declaring that the civil
case No. 67/Pdt.G/2025/PN
Pso has been withdrawn.
Para Pemohon Kasasi / Para Pembanding /
Para Penggugat:
1. Yance Tanesia (Pemohon Kasasi I
dahulu Penggugat I/Pembanding I)
2. Edwin Efraim Tanesia (Pemohon Kasasi II
dahulu Penggugat II/Pembanding II)
3. Amelya Puspita Tanesia (Pemohonan
Kasasi III dahulu Penggugat III/
Pembanding III)
Petitioners for Cassation / Appellants /
Plaintiffs:
1. Yance Tanesia (Petitioner for Cassation I,
formerly Plaintiff I/Appellant I)
2. Edwin Efraim Tanesia (Petitioner for
Cassation II, formerly Plaintiff II/Appellant
II)
3. Amelya Puspita Tanesia (Petitioner
for Cassation III, formerly Plaintiff III/
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Appellant III)
Para Termohon Kasasi / Para Terbanding /
Para Tergugat: Gugatan Perbuatan
Tingkat Kasasi Menunggu putusan kasasi
2 1. PT Cipta Daya Nusantara (Termohon Melawan Hukum
Cassation Level Awaiting cassation decision
Kasasi I dahulu Tergugat I/Terbanding I ) Unlawful Act Claim
2. PT Aka Sinergi Grup (Termohon Kasasi II
dahulu Tergugat II/Terbanding II)
Respondents for Cassation / Appellees /
Defendants:
1. PT Cipta Daya Nusantara (Respondent
for Cassation I, formerly Defendant I/
Appellee I)
2. PT Aka Sinergi Grup (Respondent for
Cassation II, formerly Defendant II/
Appellee II)
Turut Termohon Kasasi/ Turut Terbanding /
Turut Tergugat:
1. PT Sarana Multi Infrastruktur (Persero)
(Turut Termohon Kasasi dahulu Turut
Tergugat/Turut Terbanding)
Co-Respondent for Cassation / Co-
Appellee / Co-Defendant:
1. PT Sarana Multi Infrastruktur (Persero)
710 (Co-Respondent for Cassation, formerly
Co-Defendant/Co-Appellee)
Page 441
Dampak Terhadap
Pokok Perkara Perseroan dan Tindak
Pihak yang Berperkara Status Perkara
No Subject Matter of
Case Status
Lanjut
Litigating Party
the Case Impact on the Company
and Follow-Up Actions
Para Pemohon Kasasi/ Para Pembanding/
Para Penggugat:
1. Yance Tanesia (Pemohon Kasasi I
dahulu Penggugat I/Pembanding I)
2. Edwin Efraim Tanesia (Pemohon Kasasi
II dahulu Penggugat II/Pembanding II)
3. Amelya Puspita Tanesia (Pemohonan
Kasasi III dahulu Penggugat III/
Pembanding III)
Petitioners for Cassation / Appellants /
Plaintiffs:
1. Yance Tanesia (Petitioner for Cassation
I, formerly Plaintiff I/Appellant I)
2. Edwin Efraim Tanesia (Petitioner
for Cassation II, formerly Plaintiff II/
Appellant II)
3. Amelya Puspita Tanesia (Petitioner
for Cassation III, formerly Plaintiff III/
Appellant III)
Para Termohon Kasasi/ Para Terbanding/
Para Tergugat:
1. PT Cipta Daya Nusantara (Termohon
Kasasi I dahulu Tergugat I/Terbanding
Sudah selesai
I)
Gugatan Wanprestasi Completed
2. PT Aka Sinergi Grup (Termohon Kasasi II Tingkat Kasasi
3 Breach of Contract
dahulu Tergugat II/Terbanding II) Cassation Level
Claim Amar putusan kasasi: Tolak
3. Notaris Trismorini Asmawel, SH
Cassation ruling: Rejected.
(Tergugat III)
Respondents for Cassation / Appellees /
Defendants:
1. PT Cipta Daya Nusantara (Respondent
for Cassation I, formerly Defendant I/
Appellee I)
2. PT Aka Sinergi Grup (Respondent for
Cassation II, formerly Defendant II/
Appellee II)
3. Notary Trismorini Asmawel, SH
(Defendant III)
Turut Termohon Kasasi/ Turut Terbanding/
Turut Tergugat:
1. PT Sarana Multi Infrastruktur (Persero)
(Turut Termohon Kasasi, dahulu Turut
Tergugat / Turut Terbanding)
Co-Respondent for Cassation / Co-
Appellee / Co-Defendant:
1. PT Sarana Multi Infrastruktur (Persero)
(Co-Respondent for Cassation,
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
formerly Co-Defendant/Co-Appellee)
Perkara Pidana
Criminal Cases
Dampak Terhadap Perseroan
Pihak yang Pokok Perkara
Status Perkara dan Tindak Lanjut
No Berperkara Subject Matter of the
Case Status Impact on the Company
Litigating Parties Case
and Follow-Up Actions
Nihil Nihil Nihil Nihil
1
Nill Nill Nill Nill
711
Page 442
05 Tata Kelola Perusahaan
Good Corporate Governance
SANKSI ADMINISTRASI YANG ADMINISTRATIVE SANCTIONS
DITERIMA SEPANJANG TAHUN 2025 RECEIVED THROUGHOUT 2025
Sanksi administratif merupakan sanksi yang dikenakan Administrative sanctions are sanctions imposed for
atas pelanggaran administrasi atau ketentuan violations of administrative provisions or administrative
perundang-undangan yang bersifat administratif. laws and regulations. Throughout 2025, the Company
Selama tahun 2025, terdapat sanksi administratif yang received the following administrative sanction:
dikenakan kepada Perseroan, sebagai berikut:
Tindak Lanjut
Dasar Hukum Pengenaan Sanksi
Sanksi Otoritas Pemberi Sanksi Perseroan
No. Legal Basis for the Imposition of
Sanctioning Authority Follow-Up Action by
Sanction
Sanctions
the Company
PT SMI telah
Peraturan OJK Nomor 8 Tahun
melakukan
2023 tentang Penerapan Program
Sanksi Administratif Nomor pembayaran
Anti Pencucian Uang, Pencegahan
S-35/PL.11/2025 tanggal denda atas sanksi
Pendanaan Terorisme dan
31 Januari 2025 Berupa administratif sebesar
Pencegahan Pendanaan Proliferasi
Denda atas Keterlambatan Rp200.000,- (dua
Senjata Pemusnah Massal di Sektor
Penyampaian Laporan ratus ribu Rupiah)
Jasa Keuangan (POJK 8/2023) pasal
Nihil Terkait Daftar Terduga melalui Sistem
53 ayat 9; pasal 53 ayat 10; dan pasal
Teroris dan Organisasi Informasi Penerimaan
74 ayat 1 huruf g.
Teroris (DTTOT). OJK (SIPO)
Regulation of the Financial Services Otoritas Jasa Keuangan (OJK)
1 Administrative Sanction PT SMI has paid
Authority No. 8 of 2023 (POJK 8/2023), Financial Services Authority
No. S-35/PL.11/2025 dated the administrative
concerning the Implementation of
January 31, 2025, in the sanction fine
the Anti-Money Laundering, Counter-
form of a fine for the amounting to
Terrorism Financing, and Counter-
late submission of a Nil IDR200,000 (two
Proliferation Financing of Weapons
Report related to the List of hundred thousand
of Mass Destruction Programs in
Suspected Terrorists and Rupiah) through the
the Financial Services Sector (POJK
Terrorist Organizations Financial Services
8/2023), Article 53 paragraph (9);
(DTTOT). Authority Receipt
Article 53 paragraph (10); and Article
Information System
74 paragraph (1) letter g.
(SIPO).
Sanksi Administratif Nomor
Peraturan OJK Nomor 18/POJK.03/2017
S-421/PL.11/2025 tanggal
tentang Pelaporan dan Permintaan
09 Oktober 2025 Berupa
Informasi Debitur Melalui Sistem
Denda atas Keterlambatan PT SMI telah
Layanan Informasi Keuangan
Penyampaian Koreksi melakukan
sebagaimana telah diubah terakhir
Laporan Debitur Sistem pembayaran
dengan Peraturan OJK Nomor 11
Layanan Informasi denda atas sanksi
Tahun 2024 pasal 4 ayat 1; pasal 7;
Keuangan (SLIK) PT Sarana administratif sebesar
dan pasal 8 ayat 2; pasal 34 ayat 1
Multi Infrastruktur (Persero) Rp50.000,- (lima puluh
huruf a
Periode Juni 2025 ribu Rupiah) melalui
Regulation of the Financial Services Otoritas Jasa Keuangan (OJK)
2 Administrative Sanction SIPO.
Authority No. 18/POJK.03/2017 Financial Services Authority
No. S-421/PL.11/2025 dated PT SMI has paid
concerning Reporting and Request
October 9, 2025, in the the administrative
for Debtor Information through the
form of a fine for the late sanction fine
Financial Information Service System,
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
submission of Debtor amounting to
as most recently amended by
Report Correction in the IDR50,000 (fifty
Regulation of the Financial Services
Financial Information thousand Rupiah)
Authority No. 11 of 2024, Article 4
Service System (SLIK) of PT through SIPO.
paragraph (1); Article 7; Article
Sarana Multi Infrastruktur
8 paragraph (2); and Article 34
(Persero) for the June 2025
paragraph (1) letter a.
period.
Dampak Permasalahan Hukum dan Sanksi Impact of Legal Issues and Administrative
Administratif bagi PT SMI sanctions on PT SMI
Seluruh permasalahan hukum yang dihadapi PT SMI All legal issues faced by PT SMI throughout 2025 did not
sepanjang tahun 2025 tidak berdampak secara material have a material impact on the position and business
terhadap kedudukan dan kelangsungan usaha PT SMI. continuity of PT SMI.
712
Page 443
BAD CORPORATE GOVERNANCE
BAD CORPORATE GOVERNANCE
PT SMI menjalankan tata kelola perusahaan yang baik PT SMI implements good corporate governance as an
sebagai bagian penting dari operasional dan kepatuhan essential part of its operations and compliance with all
terhadap seluruh regulasi yang berlaku. Penerapan GCG applicable regulations. The implementation of GCG serves
menjadi sarana untuk menjaga keberlanjutan usaha as a means to maintain business sustainability while
sekaligus memastikan manfaat proyek dapat dirasakan ensuring that the benefits of projects can be experienced
masyarakat. by the public.
Sejalan dengan prinsip tersebut, seluruh organ tata kelola In line with these principles, all governance organs
menjalankan operasional secara disiplin, transparan, dan conduct their operations in a disciplined, transparent
bebas dari praktik bad corporate governance. Ringkasan manner and free from bad corporate governance
penerapannya adalah sebagai berikut: practices. A summary of the implementation is as follows:
Tahun
Year
No. Practices
2025 2024 2023
Aktivitas perdagangan orang dalam (insider trading) yang melibatkan direksi/komisaris,
manajemen dan karyawan.
1 x x x
Insider trading activities involving members of the Board of Directors/Board of Commissioners,
management, or employees.
Ketidakpatuhan dalam pengungkapan pemenuhan kewajiban perpajakan termasuk putusan
bersalah dari pengadilan pajak tertinggi terkait masalah perpajakan apapun.
2 x x x
Non-compliance in the disclosure of tax obligations, including guilty verdicts from the highest
tax court related to any taxation matters.
Ketidaksesuaian penyajian Laporan Tahunan dan Laporan Keuangan dengan peraturan yang
berlaku dan SAK.
3 x x x
Non-conformity in the presentation of the Annual Report and Financial Statements with
applicable regulations and Indonesian Financial Accounting Standards (SAK).
Kasus ketidakpatuhan terhadap hukum, aturan dan peraturan yang berkaitan dengan transaksi
pihak berelasi yang signifikan atau material.
4 x x x
Cases of non-compliance with laws, rules, and regulations related to significant or material
related-party transactions.
Pelanggaran hukum apa pun yang berkaitan dengan masalah perburuhan/ketenagakerjaan/
konsumen/kepailitan/komersial/persaingan atau lingkungan.
5 x x x
Any legal violations related to labor/employment, consumer protection, bankruptcy, commercial
matters, competition, or environmental issues PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Sanksi dari regulator karena tidak membuat pengumuman dalam jangka waktu yang
ditentukan untuk peristiwa penting.
6 x x x
Sanctions from regulators due to failure to make announcements within the stipulated
timeframe for material events.
Bukti bahwa perusahaan tidak mematuhi aturan dan peraturan pencatatan apa pun selama
setahun terakhir selain dari aturan pengungkapan.
7 x x x
Evidence that the Company did not comply with any listing rules and regulations during the past
year, other than disclosure rules.
V = Ada | Yes
X = Tidak Ada | No
PT SMI menempatkan integritas dan disiplin tata PT SMI places integrity and governance discipline as the
kelola sebagai fondasi utama dalam setiap aktivitas main foundation in every business activity. Therefore, the
bisnis. Untuk itu, Perseroan mewajibkan seluruh Insan Company requires all PT SMI personnel to conduct sound
PT SMI menjalankan praktik usaha yang sehat dan business practices and uphold the Code of Ethics. Each
menjunjung tinggi Kode Etik. Setiap karyawan diwajibkan employee is required to sign a statement of compliance
menandatangani pernyataan kepatuhan terhadap with the Business Ethics and Code of Conduct as evidence
Etika Usaha dan Tata Perilaku sebagai bukti komitmen of individual commitment to comply with the applicable
individual untuk mematuhi ketentuan yang berlaku. provisions. This initiative ensures that the implementation
Inisiatif ini memastikan penerapan prinsip-prinsip GCG of GCG principles is carried out consistently across all 713
berlangsung konsisten di seluruh tingkatan organisasi. levels of the organization.
Page 444
05 Tata Kelola Perusahaan
Good Corporate Governance
AKSES INFORMASI DAN DATA PERUSAHAAN
ACCESS TO THE COMPANY’S INFORMATION AND DATA
PT SMI menegaskan komitmennya terhadap transparansi PT SMI reaffirms its commitment to transparency
dengan membuka akses informasi yang relevan, tepat by providing access to relevant, timely, and reliable
waktu, dan dapat diandalkan bagi seluruh pemangku information for all stakeholders. The Company discloses
kepentingan. Perseroan menyajikan informasi keuangan both financial and non-financial information through
maupun non-keuangan melalui berbagai kanal resmi various official channels designed to be easily accessible
yang dirancang agar mudah dijangkau oleh pemangku to stakeholders, including investors, among others:
kepentingan, termasuk investor, antara lain:
1. Situs web resmi Perseroan dengan tautan ptsmi.co.id. 1. The Company’s website with the link at ptsmi.co.id
2. Layanan chatbot dengan teknologi AI yang dapat 2. Chatbot technology with an AI technology that can
diakses selama 24/7 melalui fitur chat pada situs be accessed 24/7 through the chat feature at the
web Perseroan. Company’s website.
3. Dokumen-dokumen yang dapat diunduh melalui 3. Documents available for download in the Company’s
situs web Perseroan, antara lain Laporan Tahunan, website include Annual Report, Sustainability Report,
Laporan Keberlanjutan, Laporan Obligasi Berwawasan Environmental Bond Report, Financial Statements
Lingkungan, Laporan Keuangan dan Siaran Pers. and Press Releases.
4. Laporan Keuangan yang disyaratkan peraturan 4. Financial Statements required by laws and regulations
perundang-undangan untuk dipublikasikan di harian to be published in national daily mass media.
media massa nasional.
5. Media sosial resmi Perseroan. 5. The Company’s official social media.
6. Pertemuan Pemegang Saham yang diadakan oleh 6. The shareholders meetings organized by the
Divisi Sekretariat Perusahaan dan pertemuan dengan Corporate Secretary Division and Investor meetings
investor yang diadakan oleh Divisi Keuangan & conducted by the Finance & Investor Relations Division.
Hubungan Investor.
Selain memperluas jangkauan akses, seluruh informasi In addition to expanding access reach, all information
dan data pada situs web Perseroan disajikan dalam dua and data on the Company’s website are presented in
bahasa, yaitu Bahasa Indonesia dan Bahasa Inggris, guna two languages, namely Indonesian and English, to ensure
menjamin keterbacaan dan pemahaman yang lebih broader readability and understanding. Stakeholders
luas. Pemangku kepentingan juga dapat memperoleh may also obtain additional information by contacting
informasi tambahan dengan menghubungi Perseroan the Company through the following contact address:
melalui alamat kontak berikut:
Sekretaris Perusahaan Corporate Secretary
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
PT Sarana Multi Infrastruktur (Persero) PT Sarana Multi Infrastruktur (Persero)
Sahid Sudirman Center Lantai 48 Sahid Sudirman Center, 48th Floor
Jl. Jenderal Sudirman No. 86 Jl. Jenderal Sudirman No. 86
Jakarta Pusat 10220, Indonesia Central Jakarta 10220, Indonesia
Telepon : +62-21-8082 5288 Phone : +62-21-8082 5288
Faksimili : +62-21-8082 5258 Fax : +62-21-8082 5258
E-mail : corsec@ptsmi.co.id E-mail : corsec@ptsmi.co.id
Situs Web : ptsmi.co.id Website : ptsmi.co.id
Linkedin : ptsmi LinkedIn : ptsmi
Facebook : ptsmi Facebook : ptsmi
Instagram : ptsmi_id Instagram : ptsmi_id
Youtube : ptsmi_id YouTube : ptsmi_id
714
Page 445
KODE ETIK USAHA DAN TATA PERILAKU
BUSINESS ETHICS AND CODE OF CONDUCT
Kode Etik dan Tata Perilaku Perseroan berfungsi sebagai The Company’s Business Ethics and Code of Conduct serves
pedoman etis yang memastikan setiap Insan Perseroan as an ethical guideline that ensures all Company personnel
bekerja sesuai prinsip tata kelola yang baik, nilai perusahaan, carry out their duties in accordance with the principles of
serta ketentuan hukum yang berlaku. Dokumen ini good governance, corporate values, and applicable legal
ditetapkan melalui Peraturan Bersama Dewan Komisaris provisions. This document was established through the Joint
dan Direksi No. PER-02/SMI/DK/1221 – PER-024/SMI/1221 Regulation of the Board of Commissioners and the Board of
tanggal 31 Desember 2021, dan menjadi rujukan wajib Directors No. PER-02/SMI/DK/1221 – PER-024/SMI/1221 dated
dalam pengambilan keputusan maupun pelaksanaan December 31, 2021, and serves as a mandatory reference in
tugas sehari-hari. decision-making as well as in the execution of daily duties.
Penerapan Kode Etik dan Tata Perilaku diperkuat dengan The implementation of the Business Ethics and Code of
nilai-nilai yang sejalan dengan visi dan misi Perseroan, Conduct is reinforced by values aligned with the Company’s
sehingga mampu membentuk budaya kerja yang konsisten, vision and mission, thereby fostering a work culture that is
berintegritas, dan profesional. Pedoman ini memberikan consistent, with integrity, and professional. This guideline
standar perilaku yang jelas bagi seluruh Insan Perseroan provides clear standards of conduct for all Company
dalam bersikap, bertindak, serta berinteraksi di lingkungan personnel in behaving, acting, and interacting within the
internal maupun dengan pemangku kepentingan. internal environment as well as with stakeholders.
Tujuan utama diberlakukannya Kode Etik ini antara lain The main objectives of implementing this Code of Conduct
untuk: include:
1. Mengidentifikasikan nilai-nilai dan standar etika kerja 1. Identify values and ethical work standards that align
yang selaras dengan Visi dan Misi Perseroan; with the Company's Vision and Mission;
2. Menjabarkan nilai-nilai perusahaan (corporate values) 2. Elaborate on the Company's values as the ethical
sebagai landasan etika yang harus diikuti oleh Insan PT foundation to be followed by PT SMI personnel in carrying
SMI dalam melaksanakan tugas; out their duties;
3. Menjadi acuan perilaku Insan PT SMI dalam 3. Serve as a reference for the behavior of PT SMI personnel
melaksanakan tugas dan tanggung jawab masing- in performing their duties and responsibilities, as well as
masing dan berinteraksi dengan para pemangku interacting with stakeholders; and
kepentingan; dan
4. Menjelaskan standar dan membantu memberikan 4. Explain the standards and provide guidance in case of
pertimbangan jika menemui keragu-raguan dalam uncertainties in action.
bertindak.
Pokok-Pokok Etika Usaha dan Tata Perilaku Key Points of Business Ethics and Code of PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Conduct
Berdasarkan Peraturan Bersama Dewan Komisaris dan Based on the Joint Regulation of the Board of Commissioners
Direksi No. PER-02/SMI/DK/1221-PER-024/SMI/1221, Kode Etika and the Board of Directors No. PER-02/SMI/DK/1221–PER-024/
dan Tata Perilaku PT SMI mencakup sepuluh pedoman SMI/1221, the Code of Conduct of PT SMI comprises ten key
utama yang menjadi dasar Etika Usaha Perseroan. guidelines that form the basis of the Company’s Business
Ethics.
Pokok-pokok dan ruang lingkup Etika Usaha Key Principles and Scope of Business Ethics
1. Etika Perseroan dengan Pemerintah 1. The Company’s Ethics in Relations with the Government
2. Etika Perseroan dengan Karyawan 2. The Company’s Ethics in Relations with Employees
3. Etika Perseroan dengan Pemegang Saham 3. The Company’s Ethics in Relations with Shareholders
4. Etika Perseroan dengan Kreditur/Investor 4. The Company’s Ethics in Relations with Creditors/
Investors
5. Etika Perseroan dengan Debitur/Klien/Pengguna Jasa 5. The Company’s Ethics in Relations with Debtors/Clients/
Service Users
6. Etika Perseroan dengan Penyedia Barang dan Jasa 6. The Company’s Ethics in Relations with Suppliers of
Goods and Services
7. Etika Perseroan dengan Mitra Kerja 7. The Company’s Ethics in Relations with Business Partners
8. Etika Perseroan dengan Masyarakat 8. The Company’s Ethics in Relations with the Community
715
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05 Tata Kelola Perusahaan
Good Corporate Governance
9. Etika Perseroan dengan Lembaga Keuangan Lainnya 9. The Company’s Ethics in Relations with Other Financial
Institutions
10. Etika Perseroan dengan Media 10. The Company’s Ethics in Relations with the Media
Pokok-pokok dan ruang lingkup Tata Perilaku Key Principles and Scope of the Code of Conduct
1. Interaksi Kerja Sesama Insan PT SMI 1. Workplace Interaction Among PT SMI Personnel
2. Kepatuhan Terhadap Hukum, Ketentuan dan Peraturan 2. Compliance with Laws, Other Provisions and Regulations.
Lain
3. Menjaga Keamanan, Keselamatan, Kesehatan Kerja 3. Maintain Safety and Security, Occupational Health and
dan Lingkungan (K3L) serta Pelestarian Lingkungan Environmental Protection (K3L)
4. Menjaga Kerahasiaan Data dan Informasi Perseroan 4. Maintain the Confidentiality of Company Data and
Information
5. Perlindungan dan Penggunaan Aset secara Layak 5. Appropriate Protection and Use of Assets
6. Pengungkapan Informasi Keuangan 6. Disclosure of Financial Information
7. Menghindari Benturan Kepentingan 7. Avoid Conflicts of Interest
8. Kolaborasi yang Sehat dengan Lembaga Keuangan 8. Sound Collaboration with Other Financial Institutions
Lainnya
9. Tidak Melakukan KKN dan Larangan Memberi dan 9. Prevention and Prohibition of Corruption and Gratification
Menerima Suap
10. Hadiah 10. Gifts
11. Donasi/Sumbangan 11. Donations
12. Kontribusi dan Aktivitas Politik 12. Political Contributions and Activities
PEMBERLAKUAN ETIKA USAHA IMPOSITION OF THE COMPANY’S
DAN TATA PERILAKU BUSINESS ETHICS AND
CODE OF CONDUCT
Perseroan menegaskan bahwa Etika Usaha dan Tata The Company affirms that the Business Ethics and
Perilaku berlaku secara menyeluruh bagi seluruh organ Code of Conduct apply comprehensively to all organs
dan unsur Perseroan, mulai dari Dewan Komisaris, Dewan and elements of the Company, including the Board of
Pengawas Syariah, Direksi, komite-komite, kepala divisi, Commissioners, Sharia Supervisory Board, Board of Directors,
hingga seluruh staf. Ketentuan ini diterapkan tanpa committees, division heads, and all staff. These provisions
pengecualian, dengan sanksi yang diberlakukan secara are implemented without exception, with sanctions imposed
setara sesuai jenis dan tingkat pelanggaran. equally in accordance with the type and severity of the
violation.
Setiap tahun, seluruh anggota Dewan Komisaris, Each year, all members of the Board of Commissioners,
Dewan Pengawas Syariah, Direksi, dan karyawan wajib Sharia Supervisory Board, Board of Directors, and employees
menandatangani pakta integritas yang memuat komitmen are required to sign an integrity pact containing a
untuk mematuhi nilai dan budaya perusahaan, Etika Usaha commitment to comply with the Company’s values and
dan Tata Perilaku, seluruh kebijakan dan prosedur internal, culture, Business Ethics and Code of Conduct, all internal
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
serta peraturan perusahaan dan perundang-undangan policies and procedures, as well as applicable company
yang berlaku. regulations and laws and regulations.
Sosialisasi dan Pemantauan Etika Usaha Socialization and Monitoring of Business
dan Tata Perilaku Ethics and Code of Conduct
Kebijakan Etika Usaha dan Tata Perilaku Perseroan The Company's Business Ethics and Code of Conduct policy
disosialisasikan secara luas melalui berbagai kanal is extensively promoted across all organizational levels, from
internal, mencakup seluruh tingkatan organisasi, mulai dari the Board of Commissioners, Sharia Supervisory Board of
Dewan Komisaris, Dewan Pengawas Syariah, Direksi, hingga Directors, to all employees, including those on permanent
seluruh karyawan, baik karyawan tetap, kontrak, maupun contract, and outsourced terms. This dissemination occurs
outsourcing. Penyebaran informasi dilakukan melalui Town through various channels and activities such as Town Hall
Hall Gathering, email blast, portal internal, media sosial, dan Gatherings, email blasts, internal portals, social media,
situs web Perseroan. Materi Etika Usaha dan Tata Perilaku and the Company's website. The Business Ethics and
juga menjadi bagian wajib dalam program pengenalan Code of Conduct are compulsory subjects in orientation
bagi anggota baru Dewan Komisaris, Dewan Pengawas programs for newly appointed members of the Board of
Syariah, Direksi, serta karyawan baru. Selain itu, ketentuan Commissioners, the Sharia Supervisory Board, new Directors,
etika dan standar perilaku dicantumkan dalam perjanjian and new hires. Ethical guidelines and behavioral standards
kerja karyawan serta kontrak kerja sama dengan mitra are also integrated into employment agreements for all
eksternal. employees and contracts with external parties engaged
716 with the Company.
Page 447
Perseroan juga memastikan bahwa nilai, prinsip, dan etos The Company also ensures that values, principles, and work
kerja dijalankan secara konsisten oleh seluruh Insan SMI ethics are consistently practiced by all SMI personnel so that
agar melekat menjadi budaya perusahaan. Internalisasi they become embedded as part of the corporate culture.
etika dan tata perilaku sebagai budaya ini memperkuat The internalization of ethics and code of conduct as a culture
penerapan Nilai Perusahaan I-Sprint untuk membentuk strengthens the implementation of the I-Sprint Corporate
SDM berintegritas dan berkinerja tinggi. Budaya tersebut Values to develop human capital with integrity and high
diharapkan menghasilkan Insan Perseroan dengan karakter performance. This culture is expected to produce Company
dan kualitas berikut: personnel with the following character and qualities:
1. Meyakini bahwa hasil dapat dikendalikan. 1. A belief that outcomes are controllable.
2. Meyakini bahwa segala sesuatu dapat dibuat lebih baik. 2. A belief that everything can be improved.
3. Memiliki kemampuan dan kesanggupan. 3. Possess the capability and capacity.
4. Memiliki keterbukaan dan kemampuan bekerja sama. 4. Openness and a willingness to collaborate.
5. Memiliki kepedulian terhadap lingkungan. 5. Concerns for environmental sustainability.
6. Mampu berprestasi dan bersaing dengan penuh rasa 6. Commitment to achieving and competing responsibly.
tanggung jawab.
7. Mampu mengembangkan diri, memupuk kreativitas 7. Dedication to self-development, creativity, and
dan melakukan inovasi. innovation.
8. Mampu memilih tindakan dengan risiko yang 8. Ability to make decisions with calculated risks.
diperhitungkan.
9. Mampu memanfaatkan umpan balik untuk perbaikan 9. Utilization of feedback for continuous improvement.
yang berkesinambungan.
Selain itu, Perseroan menyediakan kanal pelaporan In addition, PT SMI has established a violation reporting
pelanggaran terhadap Etika Usaha dan Tata Perilaku channel for Business Ethics and Code of Conduct through
melalui Whistleblowing System (WBS). Di luar WBS, Insan the Whistleblowing System (WBS). In addition to using WBS,
Perseroan juga memiliki kesempatan untuk menyampaikan the Company’s personnel can also submit reports regarding
laporan dugaan pelanggaran secara pribadi dengan alleged violations of Business Ethics and Code of Conduct
ketentuan sebagai berikut: personally, with the following conditions:
1. Penyampaian laporan dapat dilakukan melalui surat 1. Reports may be submitted through a letter or electronic
atau surat elektronik (e-mail) dengan melampirkan mail (e-mail) by attaching relevant supporting
dokumen pendukung yang relevan, yang disampaikan documents and addressed to the reporter’s direct
kepada atasan langsung Pelapor. Atasan langsung supervisor. The direct supervisor who receives the report
yang menerima laporan tersebut dapat mengarahkan may direct the reporter to submit the report through
Pelapor untuk menyampaikan laporan melalui the Company’s Whistleblowing System. If the party
Whistleblowing System Perseroan. Dalam hal pihak reported is the reporter’s direct supervisor, the report
yang menjadi subjek laporan adalah atasan langsung may be submitted to the indirect supervisor or through
Pelapor, maka laporan disampaikan kepada the Company’s Whistleblowing System.
atasan tidak langsung atau disampaikan melalui
Whistleblowing System Perseroan.
2. Penyampaian laporan dapat dilakukan melalui surat 2. Reports may also be submitted through a letter
atau surat elektronik (e-mail) dengan melampirkan or electronic mail (e-mail) by attaching relevant
dokumen pendukung yang relevan, yang disampaikan supporting documents and addressed to the Ethics PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
kepada Pejabat Etika. Pejabat Etika yang menerima Officer. The Ethics Officer who receives the report may
laporan tersebut dapat mengarahkan Pelapor untuk direct the reporter to submit the report through the
menyampaikan laporan melalui Whistleblowing System Company’s Whistleblowing System.
Perseroan.
Penyampaian laporan dapat dilakukan melalui laman Reports may also be submitted through the PT Sarana
Whistleblowing System PT Sarana Multi Infrastruktur (Persero) Multi Infrastruktur (Persero) Whistleblowing System website
pada alamat http://spp.ptsmi.co.id. Pelaporan melalui laman at http://spp.ptsmi.co.id. Reporting through this website
tersebut dilakukan oleh Pelapor dengan terlebih dahulu requires the reporter to first create an account using an
melakukan pembuatan akun menggunakan alamat surat electronic mail (e-mail) address. The reporter is then
elektronik (e-mail). Selanjutnya, Pelapor diwajibkan untuk required to complete the reporting form, which includes
mengisi formulir pelaporan yang mencakup identitas Pelapor, the reporter’s identity, a description of the chronology of
uraian kronologi kejadian, serta melampirkan bukti dan/atau events, and the attachment of relevant evidence and/
dokumen pendukung yang relevan.Surat tanpa identitas or supporting documents. Anonymous letters may still
(surat kaleng) tetap dapat diperlakukan sebagai informasi be treated as preliminary information. The follow-up of
awal. Tindak lanjut atas laporan tersebut akan ditentukan oleh such reports will depend on the level of confidence of the
tingkat keyakinan Pejabat Etika terhadap akurasi substansi Ethics Officer regarding the accuracy of the information
yang disampaikan. Di sisi lain, dalam menangani potensi provided. In handling potential violations of the Business
pelanggaran atas Kode Etika Usaha dan Tata Perilaku oleh Ethics and Code of Conduct by Company personnel, the 717
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05 Tata Kelola Perusahaan
Good Corporate Governance
Insan Perusahaan, Perseroan akan menindaklanjuti setiap Company will follow up on every report received, maintain
laporan yang masuk, menjaga kerahasiaannya, serta its confidentiality, and conduct a thorough review.
melakukan pemeriksaan secara cermat.
Mekanisme penanganan dan tindak lanjut atas Pelaporan The mechanism for handling and following up on reports
Dugaan Pelanggaran Etika Usaha dan Tata Perilaku mengikuti of alleged violations of Business Ethics and Code of
kebijakan Sistem Pelaporan Pelanggaran/Whistleblowing Conduct follows the Company’s Violation Reporting
System Perseroan, sebagaimana dijelaskan dalam bagian System/Whistleblowing System policy, as described in the
Sistem Pelaporan Pelanggaran pada Bab Tata Kelola Whistleblowing System section under the Good Corporate
Perusahaan yang Baik dalam Laporan Tahunan ini. Governance chapter of this Annual Report.
PENEGAKAN SANKSI PELANGGARAN ENFORCEMENT AND SANCTION
ETIKA USAHA DAN TATA PERILAKU OF THE COMPANY’S BUSINESS
ETHICS AND CODE OF CONDUCT
Penegakan etika usaha dan tata perilaku dijalankan melalui The enforcement of business ethics and code of conduct
penerapan berbagai kebijakan dan peraturan perusahaan, is carried out by implementing several company policies
penyusunan SOP kerja, serta penandatanganan pakta and regulations, the creation of work Standard Operating
integritas. Upaya ini diperkuat oleh sistem pengendalian Procedures (SOPs), integrity pacts, supported by internal
internal dan pelaksanaan audit internal. Perseroan control systems, and internal audit activities. The Company
juga mengoperasikan sistem pelaporan pelanggaran also has a violation reporting system (whistleblowing
(whistleblowing system) yang berfungsi mendeteksi potensi system) that serves as a preventive tool to detect potential
maupun dugaan pelanggaran, sekaligus memproses kasus or alleged violations and to process any violations that
yang telah terjadi. occur.
Setiap pelanggaran etika usaha dan tata perilaku, oleh Violations of business ethics and code of conduct by anyone
siapapun dan pada level jabatan apapun, akan dikenakan and from any position, proven guilty, will be subject to
sanksi sesuai tingkat pelanggaran, berat atau ringan sanctions according to the severity category of the violation
termasuk sifat serta dampaknya, baik material maupun (serious or minor), the nature and impact of the violation
immaterial, dan frekuensi terjadinya. Pemberian sanksi (material or immaterial), and the frequency of the violation.
dilakukan dengan mengacu pada Anggaran Dasar, The imposition of sanctions refers to the Company's Articles
Peraturan Perusahaan, Pedoman Sistem Pelaporan of Association, Company Regulations, Whistleblowing
Pelanggaran, serta ketentuan hukum yang berlaku. System Reporting Guidelines, and applicable laws.
PENGUNGKAPAN PELANGGARAN DISCLOSURE OF BUSINESS
ETIKA USAHA DAN TATA ETHICS AND CODE OF CONDUCT
PERILAKU TAHUN 2025 VIOLATIONS IN 2025
Sepanjang tahun 2025, Perseroan tidak menerima maupun Throughout 2025, the Company did not receive or identify
menemukan pelanggaran terhadap Kode Etika Usaha dan any violations of the Business Ethics and Code of Conduct.
Tata Perilaku. Selain itu, seluruh laporan yang diterima pada In addition, all reports received in previous periods had been
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
periode sebelumnya telah diselesaikan dan tidak ada kasus resolved, and no cases continued into 2025.
yang berlanjut hingga 2025.
INTERNALISASI BUDAYA INTERNALIZATION OF
PERUSAHAAN CORPORATE CULTURE
Perseroan senantiasa mendorong seluruh Insan The Company continuously endeavors to ensure that the
SMI untuk menjunjung tinggi norma, prinsip bisnis, behavior and work ethic of all SMI personnel consistently
dan nilai-nilai Perseroan secara konsisten. Upaya ini uphold the Company's norms, business principles, and
bertujuan menanamkan etos kerja dan perilaku yang values, thereby becoming ingrained in the company
berkesinambungan sehingga menjadi budaya perusahaan. culture. The concept of ethics and behavior as a culture
Penerapan etika dan tata perilaku sebagai bagian dari will strengthen the implementation of the I-Sprint Corporate
budaya akan memperkuat Nilai Perusahaan I-Sprint, Values, in order to form the sustainability of human capital
membentuk SDM yang berintegritas dan berperforma with high integrity and performance. The corporate culture
tinggi. Diharapkan, budaya ini membentuk karakter dan is expected to shape SMI Personnel with characteristics and
kualitas Insan SMI, antara lain: qualities, including:
1. Meyakini bahwa hasil dapat dikendalikan. 1. A belief that outcomes are controllable.
2. Meyakini bahwa segala sesuatu dapat dibuat lebih baik. 2. A belief that continuous improvement is always possible.
3. Memiliki kemampuan dan kesanggupan. 3. Possess the capability and capacity.
718 4. Memiliki keterbukaan dan kemampuan bekerja sama. 4. Openness and a willingness to collaborate.
Page 449
5. Memiliki kepedulian terhadap lingkungan. 5. Concern for environmental sustainability
6. Mampu berprestasi dan bersaing dengan penuh rasa 6. Commitment to achieving and competing responsibly
tanggung jawab.
7. Mampu mengembangkan diri, memupuk kreativitas 7. Dedication to self-development, creativity, and
dan melakukan inovasi. innovation
8. Mampu memilih tindakan dengan risiko yang 8. Ability to make decisions considering calculated risks
diperhitungkan.
9. Mampu memanfaatkan umpan balik untuk perbaikan 9. Utilization of feedback for ongoing improvement
yang berkesinambungan.
Peran Tata Kelola dalam Membangun The Role of Corporate Governance in
Budaya Perusahaan yang Berintegritas Building a Corporate Culture of Integrity
Tata kelola perusahaan di PT SMI tidak hanya berfungsi Corporate governance at PT SMI serves not only as a
sebagai kerangka pengaturan dan pengawasan Organ dan framework for regulating and supervising the Company’s
Insan Perseroan, melainkan juga sebagai fondasi dalam Organs and Personnel, but also as the foundation for
menanamkan nilai integritas dan keberlanjutan ke dalam instilling the values of integrity and sustainability into
budaya Perseroan. Melalui penerapan prinsip tata kelola the Company’s culture. Through the implementation of
yang baik, Perseroan membangun sistem pengambilan good corporate governance principles, the Company
keputusan yang transparan, akuntabel, dan berorientasi established a decision-making system that is
pada tanggung jawab jangka panjang. Nilai integritas transparent, accountable, and oriented toward long-term
diwujudkan melalui penerapan standar etika bisnis, responsibility. The value of integrity is realized through the
kepatuhan terhadap peraturan perundang-undangan, application of business ethics standards, compliance with
serta penguatan budaya kerja yang menekankan laws and regulations, and the strengthening of a work
profesionalisme, kejujuran, dan tanggung jawab di setiap culture that emphasizes professionalism, honesty, and
jenjang organisasi. responsibility at every level of the organization.
Dalam praktiknya, kerangka governansi yang diterapkan In practice, the governance framework implemented by
oleh PT SMI mendorong integrasi nilai-nilai tersebut secara PT SMI drives the consistent integration of these values
konsisten ke dalam proses bisnis dan kegiatan operasional. into business processes and operational activities. This
Hal ini tercermin antara lain pada pembentukan dan is reflected, among others, in the establishment and
pemutakhiran berkala kebijakan dan prosedur internal periodic updates of internal policies and procedures,
termasuk Peraturan Perusahaan, penandatanganan Pakta including Company Regulations, the signing of Integrity
Integritas yang berlaku bagi seluruh laporan Organ dan Pacts applicable to all Company organs and personnel,
Insan Perseroan, serta mekanisme manajemen risiko yang as well as risk management mechanisms that ensure all
memastikan bahwa setiap aktivitas usaha dilakukan secara business activities are conducted in a prudent manner
prudent dan berlandaskan prinsip keberlanjutan. Dengan and grounded in sustainability principles. Accordingly, the
demikian, nilai integritas dan keberlanjutan tidak hanya values of integrity and sustainability are not only part of
menjadi bagian dari komitmen Perseroan, tetapi juga the Company’s commitments but are also internalized
terinternalisasi dalam perilaku kerja, proses pengambilan in work behavior, decision-making processes, and
keputusan, serta pengelolaan proyek dan layanan di seluruh the management of projects and services across all
lini organisasi. organizational levels. PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Melalui pendekatan tersebut, tata kelola perusahaan Through this approach, corporate governance serves as
berperan sebagai penggerak utama dalam membentuk a key driver in shaping a corporate culture that upholds
budaya perusahaan yang berintegritas sekaligus integrity while being oriented toward sustainability. This
berorientasi pada keberlanjutan. Budaya ini menjadi culture becomes a fundamental foundation for PT SMI
landasan penting bagi PT SMI dalam menjaga konsistensi in maintaining performance consistency, strengthening
kinerja, memperkuat kepercayaan para pemangku stakeholder trust, and ensuring that business growth
kepentingan, serta memastikan bahwa pertumbuhan remains aligned with the creation of sustainable
usaha berjalan selaras dengan penciptaan nilai ekonomi, economic, social, and environmental value.
sosial, dan lingkungan secara berkelanjutan.
719
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05 Tata Kelola Perusahaan
Good Corporate Governance
KEBIJAKAN PEMBERIAN KOMPENSASI JANGKA
PANJANG BERBASIS KINERJA KEPADA
MANAJEMEN DAN/ATAU KARYAWAN
POLICY ON PROVIDING LONG-TERM PERFORMANCE-BASED
COMPENSATION FOR MANAGEMENT AND/OR EMPLOYEES
Sepanjang tahun 2025, belum terdapat kebijakan terkait Throughout 2025, the Company did not have a policy
kompensasi atau insentif jangka panjang berbasis kinerja regarding long-term performance-based compensation
kepada manajemen dan/atau karyawan yang dimiliki or incentives for management and/or employees, such
oleh Perseroan, antara lain berupa program kepemilikan as a Management Stock Ownership Program (MSOP)
saham oleh manajemen (management stock ownership and/or an Employee Stock Ownership Program (ESOP).
program/MSOP) dan/atau program kepemilikan saham
oleh karyawan (employee stock ownership program/
ESOP).
Hingga 31 Desember 2025, seluruh saham PT SMI As of December 31, 2025, all shares of PT SMI were owned
dimiliki oleh Pemerintah Republik Indonesia. Dengan by the Government of the Republic of Indonesia. Therefore,
demikian, Perseroan tidak memiliki kebijakan pemberian the Company does not have a policy on long-term
kompensasi jangka panjang berbasis kinerja kepada performance-based compensation for management
manajemen dan/atau karyawan yang berupa program and/or employees in the form of a management and/
kepemilikan saham oleh manajemen dan/atau karyawan or employee stock ownership program (MSOP/ESOP).
(MSOP/ESOP). Dengan demikian tidak ada informasi Accordingly, there is no information regarding the number
terkait jumlah saham ESOP/MSOP dan realisasinya, jangka of ESOP/MSOP shares and their realization, implementation
waktu pelaksanaan, persyaratan manajemen dan/atau period, eligibility requirements for management and/or
karyawan yang berhak serta harga pelaksanaan atau employees, or the exercise price or the determination of
penentuan harga pelaksanaan. the exercise price.
KEBIJAKAN PENGUNGKAPAN INFORMASI
MENGENAI KEPEMILIKAN SAHAM ANGGOTA
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
DIREKSI DAN ANGGOTA DEWAN KOMISARIS
POLICY ON DISCLOSURE OF INFORMATION REGARDING
SHARE OWNERSHIP OF MEMBERS OF THE BOARD OF
DIRECTORS AND BOARD OF COMMISSIONERS
Sampai dengan akhir tahun 2025, seluruh saham PT As of the end of 2025, all shares of PT SMI are owned by
SMI dimiliki oleh Pemerintah Republik Indonesia. Dengan the Government of the Republic of Indonesia. Therefore,
demikian, tidak terdapat informasi mengenai kepemilikan there is no information regarding the ownership of PT
saham PT SMI oleh Dewan Komisaris dan/atau SMI shares by the Board of Commissioners and/or their
keluarganya, maupun oleh Direksi dan/atau keluarganya. families, nor by the Board of Directors and/or their families.
Sementara, untuk kepemilikan saham anggota Dewan Meanwhile, for the share ownership of members of the
Komisaris dan anggota Direksi di perusahaan lain, Board of Commissioners and members of the Board of
Perseroan mewajibkan yang bersangkutan untuk Directors in other companies, the Company requires them
mengungkapkan sesuai peraturan berlaku, termasuk to disclose in accordance with applicable regulations,
dalam LHKPN dan telah dipaparkan pada Bab Tata Kelola including in their State Officials’ Assets Report (LHKPN),
720 Perusahaan yang Baik dalam Laporan Tahunan ini. which have been presented in the Corporate Governance
Chapter of this Annual Report.
Page 451
KEBIJAKAN KEBERAGAMAN DEWAN
KOMISARIS DAN DIREKSI
POLICY ON DIVERSITY OF THE BOARD OF
COMMISSIONERS AND BOARD OF DIRECTORS
PT SMI menempatkan keberagaman Dewan Komisaris PT SMI places the diversity of the Board of Commissioners
dan Direksi sebagai elemen kunci dalam tata kelola and the Board of Directors as a key element in effective
perusahaan yang efektif. Kombinasi latar belakang corporate governance. The combination of educational
pendidikan, keahlian, gender, usia, dan pengalaman, background, expertise, gender, age, and experience
memastikan proses pengambilan keputusan lebih ensures that the decision-making process becomes
komprehensif, objektif, dan inovatif, serta mampu more comprehensive, objective, and innovative, while
menghadirkan berbagai alternatif solusi strategis. providing various alternative strategic solutions.
Kebijakan keberagaman Perseroan tercermin dalam The Company’s diversity policy is reflected in the
mekanisme nominasi dan suksesi pengurus, yang nomination and succession mechanism for management,
menekankan kualifikasi profesional, rekam jejak yang which emphasizes professional qualifications, relevant
relevan, dan kemampuan kepemimpinan kandidat. PT track records, and leadership capabilities of candidates.
SMI menjunjung prinsip kesetaraan kesempatan tanpa PT SMI upholds the principle of equal opportunity
memandang ras, suku, agama, atau gender, sejalan regardless of race, ethnicity, religion, or gender, in line
dengan standar tata kelola terbaik. with best governance standards.
Komposisi Dewan Komisaris dan Direksi PT SMI hingga The composition of the Board of Commissioners and
akhir 2025 adalah sebagai berikut: the Board of Directors of PT SMI as of the end of 2025 is
as follows:
Usia
Jenis
Nama Jabatan Kelamin
(tahun) Pendidikan Bidang Pengalaman/Keahlian
Name Position Age Education Experience/Expertise
Gender
(years)
Dewan Komisaris
Board of Commissioners
Komisaris Utama
Pria S3 Doctor of Ekonomi, Keuangan, Manajemen
Andin Hadiyanto President 60
Male Philosophy Economics, Finance, Management
Commissioner
Komisaris Pria S2 Master of Arts in Ekonomi, Manajemen Risiko
Askolani 59
Commissioner Male Economics Economics, Risk Management
S3 Doktor Ilmu Ekonomi, Akuntansi, Keuangan,
Komisaris Independen
Ancella Anitawati Wanita Akuntansi Audit, Manajemen Risiko
Independent 62
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Hermawan Female Doctorate (Ph.D.) in Economics, Accounting, Finance,
Commissioner
Accounting Science Audit, Risk Management
S2 Magister Manajemen Risiko, Keuangan,
Komisaris Independen
Pria Manajemen Ekonomi
Dikdik Yustandi Independent 62
Male Master of Risk Management, Finance,
Commissioner
Management Economics
S3 Development Keuangan, Ekonomi, SDM,
Komisaris Independen
Arief Wibisono Pria Studies Manajemen Risiko
Independent 39
Lubis Male Doctorate (Ph.D.) in Finance, Economics, Human
Commissioner
Development Studies Capital, Risk Management
Direksi
Board of Directors
Bisnis, Manajemen Risiko,
S3 Doctor Manajemen
Reynaldi Direktur Utama Pria Keuangan
58 Doctorate (Ph.D.) in
Hermansjah President Director Male Business, Risk Management,
Management
Finance
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05 Tata Kelola Perusahaan
Good Corporate Governance
Usia
Jenis
Nama Jabatan Kelamin
(tahun) Pendidikan Bidang Pengalaman/Keahlian
Name Position Age Education Experience/Expertise
Gender
(years)
Direktur Pembiayaan
Publik &
Pengembangan Proyek Pria S1 Sarjana Hukum Hukum, Bisnis, Manajemen Risiko
Faaris Pranawa 51
Director of Public Male Bachelor of Law Law, Business, Risk Management
Financing & Project
Development
Direktur Pembiayaan & S2 Magister
Investasi Wanita Administrasi Bisnis Ekonomi, Keuangan, Bisnis
Sylvi Juniarty Gani 53
Director of Financing & Female Master of Business Economics, Finance, Business
Investment Administration
Direktur Manajemen
Teknik, Bisnis, Manajemen Risiko
Risiko Pria S2 Magister Sains
Pradana Murti 45 Engineering, Business, Risk
Director of Risk Male Master of Science
Management
Management
Direktur Operasional &
S1 Sarjana Teknik
Keuangan Wanita Keuangan, Manajemen Risiko
Aradita Priyanti 56 Bachelor of
Director of Operations Female Finance, Risk Management
Engineering
& Finance
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
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KEBIJAKAN ANTI PENCUCIAN UANG
DAN PENGENDALIAN GRATIFIKASI
POLICY ON ANTI-MONEY LAUNDERING
AND GRATIFICATION CONTROL
Perseroan menempatkan pengelolaan risiko dan The Company places risk management and the prevention
pencegahan kejahatan keuangan sebagai prioritas of financial crimes as top priorities to protect corporate
utama untuk melindungi aset perusahaan dan assets and the interests of the state. These efforts are
kepentingan negara. Upaya ini didukung oleh supported by strengthening corporate governance
penguatan tata kelola perusahaan melalui kebijakan through policies that enhance the effectiveness of internal
yang meningkatkan efektivitas pengendalian internal control and risk management. One of the key policies is
dan manajemen risiko. Salah satu kebijakan utama the Anti-Money Laundering, Counter-Terrorism Financing,
adalah Kebijakan dan Pedoman Anti Pencucian Uang, and Counter-Proliferation Financing of Weapons of Mass
Pencegahan Pendanaan Terorisme, serta Pencegahan Destruction Policy and Guidelines (AML-CTF-CPFWMD),
Pendanaan Proliferasi Senjata Pemusnah Massal (APU- along with the Gratification Control Procedure, which was
PPT, PPPSPM), ditambah Prosedur Pengendalian Gratifikasi, last updated in August 2024.
yang terakhir diperbarui pada Agustus 2024.
Di tahun 2025, implementasi APU-PPT, PPPSPM, dan In 2025, the implementation of AML-CTF-CPFWMD,
Pengendalian Gratifikasi diperluas dengan cakupan and Gratification Control was expanded with more
yang lebih komprehensif, antara lain: comprehensive coverage, including:
1. Prosedur Pengendalian Gratifikasi Perseroan telah 1. The Company's Gratification Control Procedure has
mempunyai panduan dan mekanisme pengendalian guidelines and control mechanisms of gratification,
gratifikasi antara lain berisi tentang pemahaman dan including the understanding and standardized
tata laksana baku mengenai hal-hal terkait gratifikasi implementation of matters related to gratification
yang melibatkan insan SMI. Masing-masing Insan involving SMI personnel. Each SMI personnel must
SMI harus tetap menjunjung tinggi integritas dan uphold integrity and honesty in their work practices,
kejujuran dalam praktik kerja, serta mendukung supporting the Company in maintaining a business
Perseroan mempertahankan budaya usaha yang culture free from Corruption, Collusion, and Nepotism
bebas dari Korupsi, Kolusi dan Nepotisme (KKN). Pada (KKN). In 2024, the Gratification Control arrangements
tahun 2024, pengaturan pengendalian gratifikasi were enhanced with Regulation of the Board of
telah disempurnakan dengan Peraturan Direksi No. Directors No. PD-005/SMI/0824 dated August 30,
PD-005/SMI/0824 tanggal 30 Agustus 2024 tentang 2024, concerning the Gratification Control Procedure
Prosedur Pengendalian Gratifikasi Revisi I. Revision I.
2. Kebijakan Umum Hukum, Kepatuhan, dan Anti 2. The General Policy on Law, Compliance, Anti-Money
Pencucian Uang dan Pencegahan Pendanaan Laundering, and Counter-Terrorism Financing with
Terorisme dengan Peraturan Direksi No. PD-018/ Regulation of the Board of Directors No. PD-018/ PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
SMI/1223 tanggal 14 Desember 2023. Penyusunan SMI/1223 dated December 24, 2023. The formulation
Kebijakan Umum Hukum, Kepatuhan, dan Anti of the General Policy on Law, Compliance, Anti Money
Pencucian Uang dan Pencegahan Pendanaan Laundering, and Counter-Terrorism Financing aims
Terorisme, bertujuan untuk: to:
a. Memberikan pedoman bagi Perseroan dan seluruh a. Provide guidance for the Company and all
Insan Perseroan dalam pengelolaan aktivitas Company personnel in managing legal activities,
hukum, aktivitas kepatuhan, dan aktivitas APU- compliance activities, and high-level, strategic,
PPT yang bersifat high level, strategis, dan jangka and long-term AML-CFT activities.
panjang.
b. Menjadi dasar/acuan dalam penyusunan b. Serve as the basis/reference for developing
standar Prosedur dalam menjalankan fungsi Procedure Standards in carrying out legal activity
aktivitas hukum, aktivitas kepatuhan, dan functions, compliance activities, and AML-CFT
aktivitas APU-PPT. activities.
c. M e n c i p t a k a n s t a n d a r d i s a s i d a l a m c. Create standardization in the implementation of
penyelenggaraan aktivitas hukum, aktivitas legal activities, compliance activities, and AML-
kepatuhan, dan aktivitas APU-PPT. CFT activities.
3. Prosedur Penerapan Program Anti Pencucian Uang, 3. Procedure for the Implementation of the Anti-Money
Pencegahan Pendanaan Terorisme dan Pencegahan Laundering, Counter-Terrorism Financing, and Counter-
723
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05 Tata Kelola Perusahaan
Good Corporate Governance
Pendanaan Proliferasi Senjata Pemusnah Massal. Proliferation Financing of Weapons of Mass Destruction
Pada tahun 2025, Prosedur APU PPT PPPSPM telah Program. In 2025, the AML, CTF, and CPFWMD Procedure
disesuaikan kembali dengan Peraturan Direksi No. was updated in accordance with Regulation of the Board
PD-033/SMI/1225 tanggal 30 Desember 2025 tentang of Directors No. PD-033/SMI/1225 dated December 30,
Prosedur Penerapan Program APU PPT PPPSPM Revisi IV. 2025, concerning the Procedure for the Implementation
of the AML, CTF, and CPFWMD Program (Revision IV).
Kebijakan APU-PPT, PPPSPM, dan Pengendalian Gratifikasi The AML-CFT, CPFWMD Policy and Gratification Control
telah diintegrasikan ke dalam peraturan perusahaan were then integrated into the Company's regulations
serta berbagai standar prosedur operasional Perseroan and various operational activity standard procedures
untuk memastikan penerapan yang lebih efektif. PT SMI to achieve more optimal implementation. PT SMI also
secara aktif mensosialisasikan kebijakan ini kepada conducts socialization to all Company’s personnel at all
seluruh Insan Perseroan di semua tingkatan, dengan levels to enhance understanding of gratification control
tujuan meningkatkan pemahaman terkait pengendalian in daily tasks related to gratification matters. This policy
gratifikasi dalam pelaksanaan tugas sehari-hari. Upaya will continue to be promoted to increase the awareness
ini akan terus digalakkan untuk memperkuat kesadaran, of Company personnel, encourage the prevention and
mendorong pencegahan, serta menindak praktik tindak eradication of financial crimes AML-CFT FPWMD, and
pidana keuangan dan gratifikasi, sekaligus menjaga Gratification Control, to safeguard the Company's assets
keamanan aset dan ketahanan usaha Perseroan. and business resilience.
Untuk mendukung efektivitas pengendalian gratifikasi, To support the effectiveness of gratification control
Perseroan telah membentuk Unit Pengendalian Gratifikasi implementation within the Company, the Company
(UPG) yang bertanggung jawab atas implementasi, has established the Gratification Control Unit (UPG)
pengelolaan, dan pengawasan kebijakan ini. Tugas dan responsible for implementing, managing, and controlling
tanggung jawab Unit Pengendalian Gratifikasi meliputi: Gratification in the Company. The Gratification Control
Unit has duties and responsibilities including:
1. Memberikan informasi dan data terkait perkembangan 1. Providing information and data related to the
sistem pengendalian Gratifikasi bagi pimpinan development of the Gratification Control System for
Perseroan. the Company's leadership.
2. Menerima menganalisis, mengadministrasikan 2. Receiving, analyzing, administering reports of
laporan penerimaan atau penolakan Gratifikasi dari acceptance or rejection of Gratification from
Insan Perseroan, melakukan pencatatan kelengkapan Company personnel, recording the completeness of
laporan Gratifikasi tersebut, serta meneruskan laporan the Gratification reports, and forwarding the reports
penerimaan atau penolakan Gratifikasi tersebut kepada of acceptance or rejection of Gratification to the KPK
KPK. (Corruption Eradication Commission).
3. Meminta keterangan kepada Pelapor dalam hal 3. Requesting clarification from the whistleblower when
diperlukan. necessary.
4. Melakukan pemeliharaan barang gratifikasi sampai 4. Maintaining the gratification items until a status
dengan adanya penetapan status barang tersebut. determination is made.
5. Menyampaikan rekapitulasi/hasil pengelolaan 5. Submitting a summary/result of the monthly Gratification
laporan pengendalian Gratifikasi bulanan dengan control report management by attaching related data/
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
melampirkan data/berkas terkait kepada Direktur files to the Director in charge of the UPG (Gratification
yang membidangi fungsi UPG dan rekapitulasi laporan Control Unit) function and the annual report summary
tahunan pengendalian Gratifikasi kepada KPK. of Gratification control to the KPK.
6. Menindaklanjuti rekomendasi dari Direktur yang 6. Following up on recommendations from the Director in
membidangi fungsi UPG, Kepala Divisi yang membidangi charge of the UPG function, the Division Head in charge
fungsi UPG, atau KPK dalam hal penanganan dan of the UPG function, or the KPK regarding the handling
pemanfaatan Gratifikasi. and utilization of Gratification.
7. Memantau tindak lanjut atas rekomendasi penanganan 7. Monitoring the follow-up on recommendations for the
dan pemanfaatan terkait pengendalian Gratifikasi yang handling and utilization related to Gratification control
diberikan oleh Direktur yang membidangi fungsi UPG, provided by the Director in charge of the UPG function,
Kepala Divisi yang membidangi fungsi UPG, atau KPK. the Division Head in charge of the UPG function, or the
8. Berkoordinasi dengan setiap unit kerja untuk melakukan KPK.
sosialisasi/internalisasi secara berkala atas ketentuan 8. Coordinating with each work unit to regularly conduct
Gratifikasi dan penerapan pengendalian Gratifikasi socialization/internalization of Gratification provisions
termasuk meneruskannya kepada pihak eksternal and the application of Gratification control, including
Perseroan. passing them on to external parties of the Company.
9. Berkoordinasi dengan setiap unit kerja terkait untuk 9. Coordinating with each relevant work unit to monitor
memantau tindak lanjut atas penerimaan Gratifikasi the follow-up on the receipt of Gratification that has
yang ditetapkan menjadi milik Perseroan atau milik been determined to belong to the Company or to the
724 Pelapor/Penerima Gratifikasi. Whistleblower/Recipient of Gratification.
Page 455
10. Melakukan monitoring dan evaluasi penerapan 10. Perform monitoring and evaluation of the application of
pengendalian Gratifikasi bersama KPK. Gratification control in conjunction with the KPK.
11. Melakukan koordinasi dan konsultasi dengan 11. Coordinating and consulting with the Head of Division in
Kepala Divisi yang membidangi fungsi UPG dalam charge of UPG functions in implementing Gratification
pelaksanaan pengendalian Gratifikasi termasuk control including but not limited to mapping vulnerable
namun tidak terbatas pada pemetaan titik rawan points for receiving and giving Gratification in the event
penerimaan dan pemberian Gratifikasi dalam hal of a violation of this Procedure by Company Personnel.
terjadi pelanggaran Prosedur ini oleh Insan Perseroan.
Diagram Flow Pelaporan Gratifikasi
Gratification Reporting Flowchart
Laporan Gratifikasi Diteruskan
Laporan Gratifikasi Disampaikan Kepada KPK Melalui Sistem KPK/
Kepada UPG Tidak Lebih 10 Hari Gratifikasi Online KPK, Tidak Lebih
Insan PT SMI/ Kerja Terhitung sejak Penerimaan/ 10 Hari Kerja Terhitung Laporan
Pelapor Gratifikasi penolakan Gratifikasi Diterima Pelapor Gratifikasi Diterima UPG
PT SMI Personnel Gratification Reports are Submitted Gratification Report Forwarded
/Gratification Reporter to UPG No More than 10 Working to KPK Through the KPK System/
Days from the time the Reporting KPK Online Gratification, No More
Acceptance/Rejection of Gratification than 10 Working Days Counting the
is Received Report Gratuity Received by UPG
Milik Negara
State Owned
Klasifikasi dan Verifikasi oleh KPK
Surat Keputusan KPK
Classification andVerification
KPK’s Decree Letter
by KPK
Dikelola PT SMI
atau Dimanfaatkan
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Untuk Pelapor
Managed by PT
SMI or utilized For
Whistleblowers
SOSIALISASI KEBIJAKAN SOCIALIZATION OF GRATIFICATION
PENGENDALIAN GRATIFIKASI CONTROL POLICY
Perseroan menegaskan komitmennya terhadap The Company reaffirms its commitment to integrity
integritas melalui program pengendalian gratifikasi through a structured and comprehensive gratification
dan anti suap yang terstruktur dan menyeluruh. Upaya control and anti-bribery program. These efforts are
ini diwujudkan melalui sosialisasi dan edukasi secara implemented through consistent dissemination
konsisten kepada seluruh pemangku kepentingan, and education to all stakeholders, utilizing various
memanfaatkan berbagai kanal komunikasi, termasuk communication channels, including internal print and
media internal cetak dan elektronik, induksi karyawan electronic media, new employee induction programs,
baru, webinar, seminar, media sosial, situs resmi PT SMI, webinars, seminars, social media, the official PT SMI
serta surat resmi kepada stakeholder. website, and official letters to stakeholders.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Sepanjang tahun 2025, Perseroan telah melaksanakan Throughout 2025, the Company carried out a series
serangkaian aktivitas strategis terkait pengendalian of strategic activities related to gratification control,
gratifikasi, meliputi: including:
1. Melakukan sosialisasi terkait larangan gratifikasi 1. Conducting dissemination regarding the prohibition of
dan penyuapan dalam setiap tahapan Aanwijzing gratification and bribery at every stage of procurement
pengadaan; Aanwijzing;
2. Melakukan review berkala terkait Prosedur 2. Conducting periodic reviews of the Gratification
Pengendalian Gratifikasi yang berlaku di perseroan; Control Procedure applicable within the Company;
3. Menerapkan pedoman sistem anti penyuapan dan 3. Implementing anti-bribery and anti-gratification
anti-gratifikasi di dalam proses bisnis yang berpotensi system guidelines in business processes that have
terjadinya penyuapan dan gratifikasi. the potential for bribery and gratification;
4. Melakukan sosialisasi anti-gratifikasi melalui flyer 4. Conducting anti-gratification awareness campaigns
dan banner yang tersebar di beberapa titik ruangan through flyers and banners placed at several locations
kantor PT Sarana Multi Infrastruktur (Persero) within the PT Sarana Multi Infrastruktur (Persero) office;
5. Membuat imbauan kepada para stakeholders, vendor, 5. Issuing appeals to stakeholders, vendors, and
dan Insan Perseroan untuk senantiasa menolak dan Company personnel to consistently refuse and
melarang memberikan barang gratifikasi dalam prohibit the giving of gratification in any form during
rangka hari raya keagamaan dan tahun baru. religious holidays and the New Year;
6. Melakukan sosialisasi terkait Anti-Gratifikasi, 6. Conducting dissemination regarding Anti-
Penerapan Sistem Manajemen Anti-Penyuapan, Gratification, the implementation of the Anti-Bribery
dan Penerapan Whistleblowing System dalam acara Management System, and the Whistleblowing System
Vendor Gathering 2025. during the Vendor Gathering 2025 event;
7. Melaksanakan training terkait dengan pemahaman 7. Conducting training on understanding gratification
Gratifikasi dan Penerapan Whistle Blowing System and the implementation of the Whistleblowing System
di Perseroan. within the Company.
LAPORAN GRATIFIKASI TAHUN 2025 GRATIFICATION REPORT FOR 2025
Seluruh laporan penerimaan/penolakan gratifikasi All reports regarding the acceptance or rejection
disampaikan oleh Pelapor kepada Unit Pengendalian of gratification are submitted by the reporter to the
Gratifikasi (UPG) di Divisi Kepatuhan. UPG kemudian Gratification Control Unit (UPG) under the Compliance
meneruskan laporan tersebut ke Komisi Pemberantasan Division. The UPG subsequently forwards the report to
Korupsi (KPK) melalui aplikasi Gratifikasi Online (GOL). the Corruption Eradication Commission (KPK) through
Perseroan memastikan Pelapor memperoleh konfirmasi the Online Gratification (GOL) application. The Company
penerimaan atau penolakan gratifikasi dari KPK dalam ensures that the reporter receives confirmation of the
jangka maksimal 10 (sepuluh) hari kerja sejak laporan acceptance or rejection of the gratification from the KPK
diterima oleh UPG PT SMI, sehingga proses pengendalian within a maximum of 10 (ten) working days after the
gratifikasi berlangsung cepat, akuntabel, dan sesuai report is received by the UPG of PT SMI, ensuring that
ketentuan. the gratification control process is conducted swiftly,
accountably, and in accordance with applicable
regulations.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Di tahun 2025, UPG PT SMI menerima 28 (dua puluh In 2025, the UPG of PT SMI received 28 (twenty-eight)
delapan) laporan gratifikasi, mengalami peningkatan gratification reports, representing an increase/decrease
dibandingkan tahun sebelumnya yang tercatat compared to the previous year, which recorded 20
sebanyak 20 (dua puluh) laporan. Penerimaan laporan (twenty) reports. The receipt of these reports reflects the
ini merupakan tindak lanjut dari himbauan kepada follow-up to the Company’s appeal to external parties not
pihak eksternal agar tidak memberikan gratifikasi dalam to provide any form of gratification to PT SMI personnel.
bentuk apapun kepada Insan PT SMI. Kondisi ini juga This condition also indicates that PT SMI employees
mencerminkan bahwa karyawan PT SMI telah memahami understand the applicable regulations and actively avoid
regulasi yang berlaku dan secara aktif menghindari receiving gratification that may potentially violate the law.
penerimaan gratifikasi yang berpotensi melanggar
hukum.
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KEBIJAKAN ANTI SUAP DAN ANTI
KORUPSI -SMAP ISO 37001
POLICY ON ANTI-BRIBERY AND ANTI-CORRUPTION – SMAP ISO 37001
PT SMI aktif mendukung program Pemerintah, salah PT SMI actively supports Government programs, one
satunya melalui penerapan Sistem Manajemen Anti of which is through the implementation of the Anti-
Penyuapan (SMAP), yang juga telah diterapkan di Bribery Management System (SMAP), which has also
berbagai perusahaan Badan Usaha Milik Negara. been adopted by various State-Owned Enterprises. The
Implementasi SMAP di Perseroan merujuk pada Peraturan implementation of SMAP within the Company refers
Direksi No. PD-024/SMI/1220 tentang Pedoman Sistem to Regulation of the Board of Directors No. PD-024/
Manajemen Anti Penyuapan, yang kemudian diperbarui SMI/1220 concerning the Anti-Bribery Management
dengan Peraturan Direksi No. PD-009/SMI/0322 mengenai System Guidelines, which was subsequently updated
Prosedur Sistem Manajemen Anti Penyuapan. through Regulation of the Board of Directors No. PD-
009/SMI/0322 concerning the Anti-Bribery Management
System Procedure.
Pelaksanaan dan pemantauan SMAP dilakukan secara The implementation and monitoring of SMAP are
ketat setiap tahun melalui asesor internal maupun carried out rigorously each year through both internal
eksternal independen. Divisi Audit Internal ditunjuk and independent external assessors. The Internal Audit
sebagai asesor internal yang bertugas mengevaluasi Division is appointed as the internal assessor responsible
kesesuaian implementasi SMAP dengan kebijakan for evaluating the conformity of SMAP implementation
Perseroan dan standar ISO 37001:2016. Sementara itu, with the Company’s policies and the ISO 37001:2016
asesor eksternal berasal dari perusahaan jasa penilai standard. Meanwhile, external assessors are appointed
yang ditunjuk Perseroan untuk memastikan kesesuaian from independent assessment service providers to ensure
dengan standar yang sama. compliance with the same standard.
Dalam standar ISO 37001:2016, terdapat klausul-klausul Under the ISO 37001:2016 standard, several clauses must
yang harus diimplementasikan secara konsisten, yaitu: be implemented consistently, namely:
1. Komitmen manajemen puncak 1. Top management commitment
2. Kecukupan Unit Anti Suap 2. Adequacy of the Anti-Bribery Unit
3. Penilaian lingkungan 3. Risk assessment
4. Ruang lingkup dan kebijakan organisasi 4. Organization scope and policies
5. Penilaian risiko suap 5. Bribery risk assessment
6. Merencanakan dan mencapai sasaran proses anti 6. Planning and achieving anti-bribery process
suap objectives
7. Dokumentasi 7. Documentation
8. Kesadaran & peningkatan kapasitas 8. Awareness & capacity enhancement
9. Implementasi 9. Implementation PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
10. Proses Monitoring & Evaluasi 10. Monitoring & Evaluation processes
11. Tinjauan manajemen 11. Management review
12. Perbaikan berkelanjutan. 12. Continuous improvement
Di tahun 2025, Divisi Audit Internal melakukan evaluasi In 2025, the Internal Audit Division conducted an
terhadap pelaksanaan SMAP. Hasil audit menunjukkan evaluation of the implementation of SMAP. The audit
bahwa implementasi SMAP, sesuai lingkup yang diaudit, results indicated that the implementation of SMAP, within
secara umum konsisten dengan klausul-klausul SNI ISO the audited scope, was generally consistent with the
37001:2016. clauses of SNI ISO 37001:2016.
Selain evaluasi internal, Perseroan juga secara rutin In addition to the internal evaluation, the Company
melakukan penilaian tahunan terhadap implementasi also routinely conducts an annual assessment of SMAP
SMAP, mengingat Perseroan telah memperoleh sertifikasi implementation, considering that the Company has held
ISO 37001:2016 sejak 5 Maret 2021. Beberapa manfaat dari ISO 37001:2016 certification since March 5, 2021. Several
penerapan ISO 37001:2016 antara lain: benefits of implementing ISO 37001:2016 include:
1. Jaminan kepada manajemen, investor, karyawan, 1. Providing assurance to management, investors,
pelanggan, dan pemangku kepentingan lainnya employees, customers, and other stakeholders that
bahwa organisasi mengambil langkah yang wajar the organization has taken reasonable steps to
untuk mencegah penyuapan. prevent bribery. 727
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05 Tata Kelola Perusahaan
Good Corporate Governance
2. Aktivitas bisnis menjadi lebih efisien dan lebih cepat. 2. Business activities become more efficient and faster.
3. Kualitas produk/jasa yang dibutuhkan organisasi 3. The quality of products/services required by the
menjadi lebih baik karena keputusan dan persaingan organization improves as decisions and competition
lebih prudent. become more prudent.
4. Meningkatkan kredibilitas organisasi secara 4. Enhancing the organization’s credibility at the
internasional. international level.
5. Menciptakan budaya korporasi yang anti penyuapan. 5. Creating a corporate culture that is resistant to bribery.
6. Bukti dalam penyelidikan bahwa suatu organisasi 6. Providing evidence during investigations that the
telah mengambil langkah-langkah yang wajar untuk organization has taken reasonable measures to
mencegah penyuapan. prevent bribery.
Untuk memastikan keberlanjutan sertifikat ISO 37001:2016, To ensure the continuity of the ISO 37001:2016 certification,
Perseroan melaksanakan audit surveillance pada 17-18 the Company conducted a surveillance audit on March
Maret tahun 2025 melalui pihak independen PT Mutu 17–18, 2025, through the independent party PT Mutu Agung
Agung Lestari. Adapun hasil audit lanjutan menunjukkan Lestari. The follow-up audit results indicated that PT SMI
bahwa PT SMI secara konsisten menerapkan Sistem consistently implements the Anti-Bribery Management
Manajemen Anti Penyuapan. Adapun Sertifikat ISO System. The ISO 37001:2016 certificate issued by MAL is
37001:2016 yang diterbitkan oleh MAL berlaku mulai 29 valid from April 29, 2024, until April 29, 2027.
April 2024 hingga 29 April 2027.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
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SOSIALISASI DAN PELATIHAN
MENGENAI GRATIFIKASI, APU-PPT
PPPSPM, ANTI SUAP DAN KORUPSI
SOCIALIZATION AND MONITORING ON GRATIFICATION,
AML-CTF CPFWMD, ANTI-BRIBERY AND CORRUPTION
Perseroan melakukan sosialisasi terkait gratifikasi, The Company conducts dissemination related to
APU-PPT, serta pencegahan suap dan korupsi melalui gratification, AML-CFT, and the prevention of bribery
distribusi buku saku yang memuat peraturan-peraturan and corruption through the distribution of pocketbooks
yang berlaku di Perseroan. Selain itu, Perseroan containing regulations applicable within the Company. In
menyelenggarakan pelatihan bagi karyawan untuk addition, the Company organizes training for employees
menegaskan kebijakan dan aturan yang ada, sekaligus to reaffirm existing policies and rules, while also
meningkatkan keterlibatan karyawan dalam menegakkan increasing employee engagement in upholding integrity,
integritas, tanggung jawab, dan kepatuhan di seluruh lini responsibility, and compliance across all operational lines.
operasional.
Perseroan juga mendorong seluruh karyawan untuk The Company also encourages all employees to enhance
meningkatkan kesadaran dan kewaspadaan dalam awareness and vigilance in maintaining a healthy, clean,
menjaga lingkungan kerja agar tetap sehat, bersih, dan and fraud-free working environment through the provision
bebas dari praktik kecurangan, melalui penyediaan of reporting and complaint channels (whistleblowing
sarana pelaporan dan pengaduan (whistleblowing system).
system).
Sepanjang tahun 2025, Perseroan telah Throughout 2025, the Company conducted various
menyelenggarakan berbagai pelatihan mengenai training programs related to gratification, AML-CFT, anti-
gratifikasi, APU-PPT, anti suap, dan korupsi, dengan rincian bribery, and corruption, with details as follows:
sebagai berikut:
Tanggal dan Tempat Pelatihan Narasumber Peserta Pelatihan
Date and Venue Training Speaker Training Participants
DH, DPPU 1, DPPU 3, DPB, DP 1, DP 2, DUS,
Workshop Compliance
DPM, DELST, DH, DK.
Assurance: Penguatan
Legal Division, Public Financing Division I,
Kamis-Jumat, 20-21 Pengendalian Internal dan
Public Financing Division III, Sustainable
November 2025 di Bandung Kepatuhan Tommy Hartanto, Deloitte
Financing Division, Financing Division
Thursday-Friday, November Workshop Compliance Consultant
I, Financing Division II, Sharia Business
20-21, 2025, in Bandung Assurance: Strengthening
Division, Equity Investment Division,
Internal Control and
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Environmental, Social & Technical
Compliance
Evaluation Division, Compliance Division
DAA, DMRT, DAI, DPOP, DP2, DP1, DEPI, DPPIK
R. Rifki Arif Budianto, SH,
Workshop Penerapan DUP,DTI
CfrA selaku Manajer
APU-PPT di Lembaga Accounting & Asset Administration
Direktorat APU PPT OJK
Jasa Keuangan (LJK): Division
dan National Trainer
Meningkatkan Kepatuhan Integrated Risk Management Division
United Nations Office
Regulasi, Pengendalian Internal Audit Division
on Drugs and Crime
Senin-Selasa, 8-9 Desember Risiko, dan Integritas Sistem Financing Operational Management
(UNODC)
2025 di Bandung Keuangan. Division
R. Rifki Arif Budianto, SH,
Monday-Tuesday, December Workshop on the Financing Division II
CfrA, Manager at the
8-9, 2025, in Bandung Implementation of AML- Financing Division I
APU-PPT Directorate of
CFT in Financial Services Financing & Investment Evaluation
the Financial Services
Institutions (LJK): Enhancing Division
Authority and National
Regulatory Compliance, Risk Special Financing and Investment
Trainer at the United
Control, and Financial System Management Division
Nations Office on Drugs
Integrity General Affairs & Procurement Division
and Crime (UNODC)
Information Technology Division
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05 Tata Kelola Perusahaan
Good Corporate Governance
KEBIJAKAN PENCEGAHAN INSIDER TRADING
INSIDER TRADING PREVENTION POLICY
Hingga 31 Desember 2025, Perseroan belum memiliki As of December 31, 2025, the Company does not yet have
kebijakan khusus terkait transaksi orang dalam (insider a specific policy regarding insider trading, considering
trading), mengingat status PT SMI sebagai perusahaan that PT SMI is a non-public company whose shares are not
non-publik yang tidak memperdagangkan saham di traded on any stock exchange. There is no specific policy
bursa efek manapun. Tidak terdapat kebijakan secara in place to prevent insider trading that sets out clear rules
khusus untuk mencegah terjadinya insider trading yang regarding any trading of corporate shares by Directors,
memuat aturan yang jelas mengenai perdagangan Commissioners, and insiders to ensure that no party may
apa pun dalam saham korporasi yang dilakukan oleh obtain direct or indirect benefits from information that is
Direktur, Komisaris dan orang dalam untuk memastikan not yet available to the market. In addition, there have
bahwa siapapun tidak boleh mendapatkan keuntungan been no insider trading activities involving the Board of
secara langsung atau tidak langsung dari informasi Directors, Board of Commissioners, management, or
yang tidak/ belum tersedia di pasar, dan tidak terdapat employees over the past three years.
perdagangan orang dalam yang melibatkan Direksi/
Komisaris, manajemen dan karyawan dalam tiga tahun
terakhir.
Meskipun PT SMI belum memiliki kebijakan yang dimaksud, Although PT SMI does not yet have such a policy, the
Perseroan telah memastikan seluruh Insan Perseroan Company ensures that all Company personnel continue to
tetap mematuhi peraturan internal maupun eksternal comply with applicable internal and external regulations
yang berlaku melalui penerapan Etika Usaha dan Tata through the implementation of the Business Ethics and
Perilaku (Code of Conduct). Code of Conduct.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
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TATA KELOLA TEKNOLOGI INFORMASI
INFORMATION TECHNOLOGY GOVERNANCE
Perseroan menempatkan pengelolaan Teknologi Along with the acceleration of digital transformation,
Informasi (TI) sebagai fondasi strategis untuk mendukung the Company places Information Technology (IT)
kelancaran operasional, keamanan data, dan kualitas management as a strategic foundation to support
layanan. Pemanfaatan TI yang efektif tidak hanya operational continuity, data security, and service quality.
meningkatkan efisiensi, tetapi juga meminimalisir Effective utilization of IT not only enhances efficiency
risiko operasional di tengah kompleksitas bisnis yang but also minimizes operational risks amid the growing
berkembang. complexity of business activities.
PT SMI terus mendorong peningkatan berkelanjutan PT SMI continues to promote continuous improvement in
dalam tata kelola TI. Tingkat kematangan TI Perseroan IT governance. The Company’s IT maturity level increased
naik dari 3,14/5,00 pada tahun 2024 menjadi 3,30/5,00 from 3.14/5.00 in 2024 to 3.30/5.00 in 2025, placing it in
pada tahun 2025, menempatkannya pada kategori the “Established” category. This achievement reflects
“Established”. Pencapaian ini mencerminkan kesiapan the Company’s readiness to meet dynamic business
Perseroan dalam memenuhi kebutuhan bisnis yang needs while managing evolving digital risks and threats
dinamis sekaligus mengelola risiko dan ancaman digital through the consistent and structured implementation
yang terus berkembang, melalui implementasi praktik TI of IT practices.
yang konsisten dan terstruktur.
Kebijakan dan Strategi Pengelolaan Information Technology Management
Teknologi Informasi Strategy and Policy
Penerapan tata kelola teknologi informasi (TI) di Perseroan The implementation of information technology
dilaksanakan berdasarkan sejumlah peraturan direksi, governance within the Company is carried out based
antara lain Peraturan Direksi No. PD-011/SMI/0823 tentang on several regulations of the Board of Directors,
Prosedur Pengelolaan Teknologi & Sistem Informasi yang including Regulation of the Board of Directors No. PD-
berisi pokok-pokok penerapan pengelolaan teknologi dan 011/SMI/0823 concerning the Technology & Information
sistem informasi, Peraturan Direksi No. PD-004/SMI/0323 Systems Management Procedure, which outlines the key
tentang Prosedur Sistem Layanan Informasi Keuangan principles for managing technology and information
Otoritas Jasa Keuangan, serta Peraturan Direksi No. PD- systems; Regulation of the Board of Directors No. PD-
006/SMI/0423 tentang Kebijakan Umum Operasional. 004/SMI/0323 concerning Financial Information Service
System Procedure of the Financial Services Authority; and
Regulation of the Board of Directors No. PD-006/SMI/0423
concerning the General Operational Policy.
Implementasi kebijakan TI dalam operasional The implementation of IT policies in the Company’s PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Perseroan disesuaikan dengan kompleksitas usaha dan operations is aligned with business complexity and refers
mengacu pada praktik terbaik yang berlaku. Selain itu, to applicable best practices. In addition, the Company
Perseroan secara rutin meninjau kebijakan yang ada routinely reviews existing policies to strengthen its IT
untuk memperkuat infrastruktur TI, sehingga mampu infrastructure so that it can provide financial services
menyediakan layanan keuangan yang lebih efisien dan that are more efficient and easily accessible to customers.
mudah diakses oleh pelanggan.
Sejalan dengan Rencana Jangka Panjang Perusahaan In line with the Company’s 2024-2028 Long-Term Plan
2024–2028 dan Rencana Strategis Teknologi Informasi and the 2024-2028 Information Technology Strategic
(RSTI) 2024–2028, Perseroan mengembangkan Next Plan, the Company is developing Next Generation IT and
Generation IT dan Analytics sebagai enabler utama Analytics as key enablers to support digital transformation
dalam mendukung inisiatif transformasi digital. Inisiatif ini initiatives. This initiative aims to strengthen synergy
bertujuan memperkuat sinergi antara departemen TI dan between the IT department and business units, while
unit bisnis, serta menjadikan TI sebagai business partner positioning IT as a strategic business partner in the
yang strategis dalam pelaksanaan strategi Perseroan. implementation of the Company’s strategy.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Fokus RSTI Tahun 2025 sebagaimana tercantum dalam The focus of the IT Strategic Plan (RSTI) for 2025,
RKAP 2025, adalah penguatan infrastruktur digital, as outlined in the Company’s 2025 Work Plan and
peningkatan efisiensi operasional melalui teknologi, Budget, is to strengthen digital infrastructure, enhance
serta mendukung inisiatif transformasi digital Perseroan. operational efficiency through technology, and support
Berikut adalah inisiatif pengembangan TI beserta the Company’s digital transformation initiatives. The
progresnya yang dilaksanakan pada tahun 2025 yang following are the IT development initiatives and their
juga mendukung KPI Korporasi Teknologi Informasi: progress implemented in 2025, which also support the
Corporate IT KPIs:
Highlight Inisiatif Nilai Strategis bagi Organisasi
No. Strategic Values for the Organization
Key Initiative Highlights
Implementasi New Loan Origination Mempercepat siklus pembiayaan end-to-end dan meningkatkan kualitas keputusan
System (LOS) melalui proses digital yang lebih terukur, efisien, dan terintegrasi.
1
Implementation of a New Loan Accelerates the end-to-end financing cycle and enhances decision quality through
Origination System (LOS) more structured, efficient, and integrated digital processes.
Menguatkan pengambilan keputusan dan manajemen risiko pasar melalui analitik
Implementasi New Treasury System
terintegrasi untuk strategi lindung nilai yang lebih presisi, disiplin, dan terukur
2 Implementation of a New Treasury
Strengthens decision-making and market risk management through integrated
System
analytics, enabling more precise, disciplined, and measurable hedging strategies.
Implementasi Single Source of Truth Memastikan satu sumber data tepercaya yang aman dan patuh regulasi untuk
of Information (SSOT) mempercepat keputusan bisnis sekaligus menurunkan risiko operasional.
3
Implementation of a Single Source Ensures a secure and compliant single source of truth, enabling faster business decisions
of Truth (SSOT) while reducing operational risks.
Menurunkan eksposur ancaman siber dan memperkuat ketahanan layanan melalui
Penguatan Tata Kelola Cyber peningkatan pencegahan, deteksi, dan respons insiden yang lebih cepat dan terstandar.
4
Strengthening Cyber Governance Reduces exposure to cyber threats and strengthens service resilience through improved
prevention, detection, and faster, standardized incident response.
• Memperkuat tata kelola keamanan informasi melalui kerangka SMKI yang teruji,
Serifikasi ISO 27001 : 2022 – Sistem
untuk menjaga kerahasiaan, integritas, dan ketersediaan data.
Manajemen Keamanan Informasi
• Menjamin keberlangsungan operasional kritis dan mempercepat pemulihan saat
dan Sertifikasi ISO 22301 - Business
gangguan, sehingga melindungi layanan, reputasi, dan kepercayaan pemangku
Continuity Management
5 kepentingan.
ISO 27001:2022 Certification –
• Enhances information security governance through a robust ISMS framework,
Information Security Management
ensuring data confidentiality, integrity, and availability.
System and ISO 22301 Certification –
• Ensures the continuity of critical operations and accelerates recovery during
Business Continuity Management
disruptions, safeguarding services, reputation, and stakeholder trust.
Memperkuat kepatuhan dan kualitas pelaporan melalui otomasi dan integrasi data,
sehingga keputusan pembiayaan lebih cepat, akurat, dan terukur risikonya.
6 Regulatory Compliance & Reporting
Strengthens compliance and reporting quality through automation and data integration,
enabling faster, more accurate, and risk-informed financing decisions.
Menyederhanakan proses end-to-end dan meningkatkan produktivitas melalui otomasi
serta integrasi lintas sistem, sekaligus memperkuat kontrol dan tata kelola dokumen.
7 Business Process Improvement
Streamlines end-to-end processes and improves productivity through automation and
cross-system integration, while reinforcing controls and document governance.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Tata kelola TI di lingkungan Perseroan tidak hanya IT governance within the Company is not only intended to
bertujuan mengendalikan pemanfaatan dan memastikan control the utilization of IT and ensure that IT performance
kinerja TI berjalan optimal, tetapi juga memiliki tujuan operates optimally, but also aims to:
untuk:
1. Mendukung transformasi bisnis PT SMI sesuai dengan 1. Support the business transformation of PT SMI in
RJPP PT SMI 2024-2028 dan sesuai dengan POJK No. accordance with the Company’s 2024 – 2028 Long-
4/POJK.05/2021 tentang Penerapan Manajemen Term Plan and in line with Regulation of the Financial
Risiko Dalam Penggunaan Teknologi Informasi Oleh Services Authority No. 4/POJK.05/2021 concerning
Lembaga Jasa Keuangan Non Bank; the Implementation of Risk Management in the Use
of Information Technology by Non-Bank Financial
Institutions;
2. Membangun dukungan TI terbaik melalui peningkatan 2. Build the best IT support through enhancing digital
kapabilitas digital dan resiliensi/simplifikasi yang capabilities and resilience / simplification that
pada akhirnya menghasilkan high impact initiatives; ultimately yield high impact initiatives;
3. Melindungi data sensitif dari akses yang tidak sah, 3. Protect sensitive data from unauthorized access, as
serta mencegah gangguan dalam operasi bisnis well as preventing disruptions in business operations
karena aktivitas jaringan yang tidak diinginkan. due to unwanted network activities.
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IT DISRUPTION IT DISRUPTION Dalam rangka mencegah dan menangani berbagai To prevent and address disruptions such as phishing, gangguan keamanan, seperti phishing, malware, denial malware, denial of service, and ransomware, the of service, dan ransomware, Perseroan memperkuat Company strengthens cybersecurity governance, tata kelola keamanan siber melalui pendekatan people, covering the aspects of people, processes, and process, dan technology. Salah satu inisiatifnya adalah technology, including the establishment of an IT Security pembentukan IT Security Operation Center (SOC), Operations Center (SOC), which is expected to provide yang dirancang untuk memberikan respons cepat dan a swift and comprehensive response to information menyeluruh terhadap insiden keamanan informasi, security incidents so that the impact of the incident can sehingga potensi dampak dapat diminimalkan dan be minimized and not spread widely. penyebarannya dapat dikendalikan. Selain itu, PT SMI juga berkomitmen menjaga kualitas PT SMI also strives to maintain high-quality service layanan dengan membentuk IT Help Desk , yang standards by establishing an IT Help Desk to assist all mendukung seluruh karyawan dalam menjalankan employees with their daily tasks. All service requests tugas sehari-hari. Seluruh permintaan layanan dicatat are logged into using Manage Engine Helpdesk and are melalui Manage Engine Helpdesk dan secara rutin monitored to ensure compliance with SLA fulfillment levels. dimonitor untuk memastikan tingkat pemenuhan SLA sesuai standar. CYBER SECURITY CYBER SECURITY Perseroan menyadari bahwa peningkatan layanan TI juga The Company acknowledges the increasing threats beriringan dengan meningkatnya ancaman terhadap to information security, and in line with Regulation of keamanan informasi, sesuai dengan ketentuan POJK No. the Financial Services Authority No. 4/POJK.05/2021 4/POJK.05/2021 tentang Penerapan Manajemen Risiko concerning the Implementation of Risk Management in dalam Penggunaan Teknologi Informasi oleh Lembaga the Use of Information Technology by Non-Bank Financial Jasa Keuangan Non-Bank. Sehubungan dengan hal Institutions. Therefore, the Company will enhance the tersebut, Perseroan berkomitmen memperkuat program Data Security Protection program, referring to the ISO/ Proteksi Keamanan Data dengan mengacu pada standar IEC 27001:2013 Information Security Management System Sistem Manajemen Keamanan Informasi (SMKI) ISO/IEC (ISMS) standard. 27001:2013. Untuk mencegah serangan maupun ancaman yang To prevent cyber attacks and potential threats targeting berpotensi masuk ke sistem Perseroan, tim IT SOC the Company, the IT Security Operations Center (SOC) melakukan pemantauan dan penanganan secara team conducts 24/7 monitoring and response actions kontinu 24/7 terhadap berbagai aspek proteksi: to ensure protection in the following areas: 1. Perimeter luar: ancaman keamanan siber terhadap 1. External Perimeter: Monitoring cybersecurity threats aplikasi yang dipublikasikan ke arah internet. against applications published to the internet. 2. Perimeter internal: ancaman keamanan siber 2. Internal Perimeter: Monitoring cybersecurity threats terhadap aplikasi & jaringan internal, VPN, termasuk within internal applications, networks, and VPN, PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025 antivirus yang melindungi PC/laptop dan server including antivirus protection for corporate PCs/ Perseroan. laptops and servers. 3. Melakukan aktivitas threat hunting: mencari informasi 3. Threat Hunting Activities: Proactively identifying mengenai insiden keamanan informasi yang sedang and analyzing ongoing cybersecurity incidents and terjadi/trend sehingga dapat memahami potensi trends to assess potential cyber threats and enhance ancaman keamanan siber. security measures. DISASTER RECOVERY DISASTER RECOVERY PT SMI secara proaktif mengelola potensi risiko dan PT SMI proactively manages potential risks and ensures memastikan kelangsungan operasional melalui operational continuity through the implementation implementasi Business Continuity Management (BCM) of Business Continuity Management (BCM) and the serta pengujian Disaster Recovery Plan (DRP) secara continuous testing of the Disaster Recovery Plan (DRP). berkelanjutan. Sebagai bagian dari praktik ini, PT SMI As part of this practice, PT SMI conducted a DRP simulation telah melakukan uji coba DRP menggunakan skenario using scenarios of disruptions caused by earthquakes and gangguan akibat gempa bumi dan serangan siber, yang cyberattacks, which affected operational processes, on berdampak pada proses operasional, pada tanggal November 20–22, 2024. In addition, PT SMI has obtained 20–22 November 2024. Selain itu, PT SMI telah meraih ISO 22301:2019 certification for the Business Continuity sertifikasi ISO 22301:2019 untuk Business Continuity Management System (BCMS). 733 Management System (BCMS).
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05 Tata Kelola Perusahaan
Good Corporate Governance
Simulasi BCM dan DRP dilakukan dengan langkah- The BCM and DRP simulations included the following
langkah sebagai berikut: activities:
1. Emergency Response Plan 1. Emergency Response Plan
2. Swing Aplikasi dari DRC ke DC 2. Swing Application from DRC to DC
3. Tabletop Simulation Cyberattack 3. Tabletop Simulation Cyberattack
IDENTIFIKASI DAN PENGELOLAAN IDENTIFICATION AND MANAGEMENT
RISIKO UTAMA YANG TELAH OF MAJOR RISKS REPORTED TO
DILAPORKAN PADA DIREKSI THE BOARD OF DIRECTORS
Profil risiko Teknologi Informasi telah disampaikan kepada The Information Technology (IT) Risk Profile has been
Direksi, mencakup antara lain: presented to the Board of Directors, highlighting the
following key risks:
1. Risiko terganggunya sistem TI yang mengakibatkan 1. Risk of IT system disruptions that could impact PT SMI's
gangguan pada operasional bisnis PT SMI. business operations.
2. Risiko ancaman keamanan siber yang mengakibatkan 2. Risk of cybersecurity threats could cause business
gangguan pada operasional bisnis dan reputasi PT operation disruptions and reputational damage to
SMI. PT SMI.
PELATIHAN DAN SERTIFIKASI TRAINING AND CERTIFICATIONS OF
PERSONEL TI PERUSAHAAN IT PERSONNEL OF THE COMPANY
Untuk mendukung transformasi digital dan efisiensi The Company strives to ensure that all IT personnel have
operasional, Perseroan memprioritaskan peningkatan the required qualifications and competencies, including
kompetensi personel TI melalui pelatihan dan sertifikasi by participating in various IT-related certification
profesional. Hingga akhir tahun 2025, personel TI PT SMI programs. The certifications held by PT SMI's IT personnel
telah meraih sertifikasi berikut: until December 31, 2025, are as follows:
Sertifikasi Training Type
Training
Start Date End Date
Certification Category
Refreshment Aplikasi ARRA APOLO
Inhouse Training IT & Analytics 17/02/2025 17/02/2025
Refreshment of the ARRA APOLO Application
Pelatihan Artificial Intelligence for Strategic Scenario
Planning Angkatan III Tahun Anggaran 2025
Public Training IT & Analytics 17/02/2025 18/02/2025
Artificial Intelligence for Strategic Scenario Planning
Training Batch III 2025 Fiscal Year
Certified Threat Intelligence Analyst (CTIA) Public Training IT & Analytics 14/04/2025 16/04/2025
Role
Business Acumen for Leaders Inhouse Training 17/04/2025 18/04/2025
Competency
Sertifikasi dan Resertifikasi BSMR Jenjang 4 Governance, Risk,
Inhouse Training 28/04/2025 29/04/2025
BSMR Certification and Recertification Level 4 Compliance
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Business
Growing Business Through The Power of AI Public Training 19/05/2025 20/05/2025
Development
Pemanfaatan AI untuk Penguatan Tata Kelola,
Pengendalian Internal, dan Ketahanan Organisasi Governance, Risk,
Inhouse Training 19/05/2025 20/05/2025
Utilization of AI to Strengthen Governance, Internal Compliance
Control, and Organizational Resilience
Certified Information Security Manager (CISM) Public Training IT & Analytics 19/05/2025 22/05/2025
Certified Data Protection Practitioner (CDPP) Public Training IT & Analytics 16/06/2025 18/06/2025
Workshop dan Sosialisasi Petunjuk Teknis Tata Kelola
Data Knowledge
IT & Analytics 23/06/2025 23/06/2025
Workshop and Socialization of Technical Guidelines on Sharing
Data Governance
Personal
Business Communication Skills Inhouse Training 17/07/2025 18/07/2025
Development
Information Security Management System Inhouse Training IT & Analytics 28/07/2025 28/07/2025
Project
Project Management Essentials Inhouse Training 07/08/2025 08/08/2025
Development
Training & Sertifikasi PRINCE2
734
Public Training IT & Analytics 11/08/2025 13/08/2025
Training and Certification of PRINCE2
Page 465
Sertifikasi Training Type
Training
Start Date End Date
Certification Category
Personal
Design Thinking Training Inhouse Training 28/08/2025 29/08/2025
Development
Optimalisasi Pemanfaatan Copilot AI Knowledge
IT & Analytics 15/09/2025 15/09/2025
Optimization of Copilot AI Utilization Sharing
Business
Strategy in the Age of AI and Digital Disruption Public Training 06/10/2025 03/12/2025
Knowledge
Governance, Risk,
Workshop Risk Maturity Index (RMI) Inhouse Training 06/10/2025 07/10/2025
Compliance
Cybersecthailand Conference 2025 Public Training IT & Analytics 12/11/2025 12/11/2025
Penyelarasan Prosedur dan Dokumen Internal Control
over Financial Reporting (ICoFR) Finance &
Inhouse Training 13/11/2025 14/11/2025
Alignment of Procedures and Documents for Internal Treasury
Control over Financial Reporting (ICoFR)
Business Data Analytic Inhouse Training IT & Analytics 19/11/2025 21/11/2025
Building Batch Data Analytics Solutions on AWS Inhouse Training IT & Analytics 24/11/2025 24/11/2025
AWS Gen-AI Practitioner Inhouse Training IT & Analytics 25/11/2025 25/11/2025
Architecting on AWS Inhouse Training IT & Analytics 26/11/2025 28/11/2025
AI & Automation for Workplace Productivity Public Training IT & Analytics 17/12/2025 18/12/2025
SC-300 Identity and Access Administrator Associate Public Training IT & Analytics 23/12/2025 30/12/2025
RENCANA PENGEMBANGAN FUTURE IT DEVELOPMENT PLAN
TI KE DEPAN
Dalam upaya memperkuat fondasi operasional dan In an effort to strengthen operational foundations and
meningkatkan daya saing, Perseroan memfokuskan enhance competitiveness, the Company focuses on
pengembangan teknologi informasi sebagai pilar the development of information technology as a key
utama efisiensi, efektivitas, dan transparansi. Untuk pillar for efficiency, effectiveness, and transparency. To
mendukung hal ini, Perseroan telah menyusun rencana support this objective, the Company has prepared an IT
pengembangan TI tahun 2026, yang mencakup: development plan for 2026, which includes:
Area Utama Nilai Strategis bagi Organisasi
No. Strategic Values for the Organization
Key Areas
Memperkuat kelincahan bisnis dan time-to-market produk melalui
modernisasi core, sekaligus mempercepat proses end-of-month untuk
Modernisasi Core System Conventional
pelaporan yang lebih akurat dan tepat waktu.
1. Modernization of the Conventional Core
Strengthens business agility and reduces product time-to-market through
System
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
core system modernization, while accelerating end-of-month processes for
more accurate and timely reporting.
Meningkatkan kualitas keputusan ALM dan strategi lindung nilai melalui
New Treasury System : Modul Asset & Liability analitik terintegrasi, sehingga pengelolaan risiko pasar lebih presisi, disiplin,
Management dan terukur.
2.
New Treasury System: Asset & Liability Enhances the quality of ALM decisions and hedging strategies through
Management Module integrated analytics, enabling more precise, disciplined, and measurable
market risk management.
Mempercepat pengembangan pembiayaan syariah dan meningkatkan
ketepatan pelaporan melalui sistem yang lebih lincah, terstandar, dan
Modernisasi Core Syariah
3. terintegrasi.
Modernization of the Sharia Core System
Accelerates the development of Sharia financing and improves reporting
accuracy through more agile, standardized, and integrated systems.
Meningkatkan konversi pipeline-to-booking dan transparansi proses
Implementasi New Loan Origination System: pembiayaan melalui digitalisasi end-to-end, integrasi sistem, dan
Enhancement & Integration pengurangan pekerjaan manual serta kesalahan.
4.
Implementation of New Loan Origination Increases pipeline-to-booking conversion and improves transparency in
System: Enhancement & Integration financing processes through end-to-end digitalization, system integration,
and reduced manual work and errors.
735
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05 Tata Kelola Perusahaan
Good Corporate Governance
Area Utama Nilai Strategis bagi Organisasi
No. Strategic Values for the Organization
Key Areas
Meningkatkan ketahanan, keamanan, dan skalabilitas layanan TI, sekaligus
mengoptimalkan biaya melalui konsolidasi, rightsizing, dan model biaya
Optimalisasi Infrastruktur Cloud
5. berbasis penggunaan.
Optimization of Cloud Infrastructure
Improves IT resilience, security, and scalability while optimizing costs through
consolidation, rightsizing, and usage-based cost models.
Penguatan IT Security:
1. Security Orchestration , Automation, and
Response (SOAR).
2. Cloud Protection / Cloud Detection and Menurunkan eksposur risiko siber dengan deteksi–respons terotomasi dan
Response (CDR) perlindungan beban kerja cloud, sekaligus menjaga kerahasiaan, integritas,
3. Surveillance ISO/IEC 27001:2022 dan ketersediaan aset digital.
6.
Strengthening IT Security: Reduces cyber risk exposure through automated detection and response as
1. Security Orchestration, Automation, and well as cloud workload protection, while ensuring the confidentiality, integrity,
Response (SOAR) and availability of digital assets.
2. Cloud Protection / Cloud Detection and
Response (CDR)
3. Surveillance ISO/IEC 27001:2022
Penguatan Tata Kelola TI :
1. Surveillance ISO/IEC 27001:2022
2. Internal Control over Financial Report
(ICoFR) dengan penguatan Information
Technology General Control (ITGC)
3. Peningkatan IT Maturity sesuai dengan
COBIT Memperkuat kepatuhan, kontrol internal, dan kualitas layanan TI melalui
4. Penguatan standard praktik terbaik IT penguatan SMKI, ITGC/ICoFR, peningkatan kematangan COBIT, serta adopsi
diantaranya (20000 atau 9001) standar layanan berkelas dunia.
7.
Strengthening IT Governance: Strengthens compliance, internal controls, and IT service quality through
1. Surveillance ISO/IEC 27001:2022, enhanced ISMS, ITGC/ICoFR, increased COBIT maturity, and the adoption of
2. Internal Control over Financial Reporting world-class service standards.
(ICoFR) with strengthened Information
Technology General Controls (ITGC),
3. Improvement of IT Maturity in accordance
with COBIT,
4. Strengthening best practice IT standards,
including ISO 20000 or ISO 9001
Memastikan kepatuhan UU PDP melalui standardisasi tata kelola data,
Pemantauan Implementasi Pelindungan Data penguatan kontrol, dan program literasi, sehingga pelindungan data pribadi
Pribadi berjalan konsisten dan terukur.
8.
Monitoring the Implementation of Personal Ensures compliance with the Law concerning Personal Data Protection (PDP)
Data Protection through standardized data governance, strengthened controls, and literacy
programs, enabling consistent and measurable protection of personal data.
Membangun satu platform pengetahuan terintegrasi untuk mempercepat
Pengembangan Sistem Berbasis Data yang keputusan berbasis data, meningkatkan kolaborasi, dan mengoptimalkan
Akurat dan Cerdas pemanfaatan aset pengetahuan Perseroan.
9.
Development of Data-Based Systems that are Establishes an integrated knowledge platform to accelerate data-driven
Accurate and Intelligent decision-making, enhance collaboration, and optimize the use of the
Company’s knowledge assets.
Memastikan kepatuhan PSAK 413 dan meningkatkan keandalan pelaporan
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
CKPN pembiayaan syariah melalui perhitungan yang konsisten, transparan,
Sistem CKPN Syariah (PSAK 413) dan dapat diaudit.
10.
Sharia CKPN System (PSAK 413) Ensures compliance with PSAK 413 and enhances the reliability of Sharia
financing impairment reporting (CKPN) through consistent, transparent, and
auditable calculations.
Meningkatkan uptime dan kualitas layanan melalui pemantauan terintegrasi
dan deteksi dini gangguan, sehingga respons insiden lebih cepat dan
Memantau Ketersediaan Sistem operasional tetap andal.
11.
Monitoring System Availability Improves uptime and service quality through integrated monitoring and early
detection of disruptions, enabling faster incident response and maintaining
reliable operations.
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SISTEM PELAPORAN PELANGGARAN
WHISTLEBLOWING SYSTEM
Sejak tahun 2014, PT SMI mengembangkan Sistem Since 2014, PT SMI has developed a Whistleblowing System
Pelaporan Pelanggaran (Whistleblowing System/WBS) (WBS) as part of its efforts to strengthen corporate
sebagai bagian dari upaya memperkuat tata kelola governance. The latest stipulation was made through
perusahaan. Penetapan terbaru dilakukan melalui the Circular Approval of the Technical Guidelines for the
Persetujuan Secara Sirkuler atas Petunjuk Teknis WBS WBS on October 14, 2022. This system provides an official
pada 14 Oktober 2022. Sistem ini menyediakan saluran channel for all stakeholders to report indications or acts
resmi bagi seluruh pemangku kepentingan untuk of violations occurring within the Company, while also
melaporkan indikasi atau tindakan pelanggaran yang promoting compliance, transparency, and sound working
terjadi di Perseroan, sekaligus mendorong kepatuhan, practices.
transparansi, dan praktik kerja yang sehat.
WBS berperan penting dalam mendukung Sistem The WBS plays an important role in supporting the Internal
Pengendalian Internal PT SMI, dengan memungkinkan Control System of PT SMI, by enabling all Company
setiap Insan Perseroan melaporkan perilaku yang personnel to report behaviors that deviate from moral
menyimpang dari standar moral, etika, dan etos kerja. standards, ethics, and work ethos. In addition to serving as
Selain sebagai alat pelaporan, WBS juga menjadi a reporting tool, WBS also functions as an early detection
mekanisme deteksi dini terhadap potensi pelanggaran, mechanism for potential violations, allowing the Company
sehingga Perseroan dapat melakukan pencegahan dan to carry out prevention and handling measures quickly
penanganan secara cepat dan efektif. and effectively.
KEBIJAKAN WBS PERSEROAN THE COMPANY'S WBS POLICY
Pembentukan WBS PT SMI dilakukan berdasarkan The Company’s WBS was established based on various
sejumlah peraturan dan ketentuan yang berlaku, antara applicable regulations and provisions, including:
lain:
1. Undang-Undang No. 31 Tahun 1999, sebagaimana 1. Law No. 31 of 1999, as amended by Law No. 20 of 2001
telah diubah dengan Undang-Undang No. 20 tahun concerning the Eradication of Corruption Crimes;
2001 tentang Pemberantasan Tindak Pidana Korupsi;
2. Undang-Undang No. 13 Tahun 2006, sebagaimana 2. Law No. 13 of 2006, as amended by Law No. 31 of 2014,
telah diubah dengan Undang-Undang No. 31 Tahun concerning Witness and Victim Protection.
2014 tentang Perlindungan Saksi dan Korban;
3. Undang-Undang No. 11 Tahun 2008, sebagaimana 3. Law No. 11 of 2008, as amended by Law No. 19 of 2016,
telah diubah dengan Undang-Undang No. 19 Tahun and most recently by Law No. 1 of 2024, concerning
2016 dan diubah terakhir dengan Undang-Undang Electronic Information and Transactions. PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
No. 1 Tahun 2024 tentang Informasi dan Transaksi
Elektronik;
4. Peraturan Otoritas Jasa Keuangan No. 16 Tahun 2024 4. Regulation of the Financial Services Authority No. 16
tentang Pengawasan PT Sarana Multi Infrastruktur of 2024 concerning the Supervision of PT Sarana Multi
(Persero); Infrastruktur (Persero).
5. Peraturan Direksi No. PD-021/SMI/1120 tentang 5. Regulation of the Board of Directors No. PD-021/SMI/1120
Pedoman Sistem Pelaporan Pelanggaran; concerning the Whistleblowing System Guidelines.
6. Peraturan Direksi No. PD-005/SMI/0225 tentang 6. Regulation of the Board of Directors No. PD-005/
Prosedur Strategi Anti-Fraud; SMI/0225 concerning the Anti-Fraud Strategy
Procedures.
7. Petunjuk Teknis Sistem Pelaporan Pelanggaran 7. Technical Guidelines for the Whistleblowing System.
(Whistleblowing System).
Dengan dasar peraturan dan ketentuan tersebut, Based on these rules and regulations, the implementation
penerapan WBS di Perseroan memiliki tujuan sebagai of WBS in the Company aims to:
berikut:
1. M e n d o r o n g s e t i a p I n s a n P e r s e r o a n d a n 1. Encourage every employee of the Company and
para pemangku kepentingan lainnya untuk other stakeholders to submit/report to the Company’s
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05 Tata Kelola Perusahaan
Good Corporate Governance
menyampaikan/melaporkan kepada pihak internal internal authorities regarding violations and/or
Perseroan yang berwenang tentang pelanggaran deviations of code of ethics, laws, standard operating
dan/atau penyimpangan kode etik, hukum, standar procedures, management policies and other matters
prosedur operasi, kebijakan manajemen, dan hal-hal deemed to be detrimental and/or harmful to the
lainnya yang dipandang dapat merugikan dan/atau Company;
membahayakan Perseroan;
2. Meminimalisasi kemungkinan terjadinya risiko yang 2. Minimize the possibility of harmful risks to the
dapat merugikan Perseroan; Company;
3. Meningkatkan keyakinan kepada setiap Insan 3. Increase confidence in every employee of the
Perseroan dan para pemangku kepentingan lainnya Company and other stakeholders regarding protection
mengenai adanya perlindungan dari hukuman, from sanction, retaliation or unreasonable and unfair
tindakan balasan atau perlakuan yang tidak wajar treatment to the whistleblower if the report is disclosed
dan adil kepada Pelapor apabila yang bersangkutan based on good faith and with sufficient evidence;
mengungkapkan pelanggaran dengan berdasarkan
itikad baik dan bukti yang memadai;
4. Mendukung terwujudnya budaya keterbukaan, 4. Promote the realization of transparency, accountability,
akuntabilitas, dan integritas; dan and integrity culture; and
5. Meningkatkan efektivitas Tata Kelola Perusahaan yang 5. Improve the effectiveness of Good Corporate
Baik, pengendalian internal, dan kinerja karyawan Governance, internal control, as well as employees
maupun organisasi. and organizations performance.
TATA CARA PENYAMPAIAN PROCEDURE FOR SUBMITTING
LAPORAN PELANGGARAN VIOLATION REPORTS
Laporan yang disampaikan melalui WBS mencakup Reports submitted through the WBS include the following
tindak pelanggaran sebagai berikut, termasuk namun violations, but are not limited to:
tidak terbatas pada:
1. Melanggar peraturan perundang-undangan, 1. Violations of laws and regulations, such as committing
misalnya melakukan tindak pidana umum, tindak general crimes, corruption, embezzlement, mark-up,
pidana korupsi, penggelapan, mark up, penggunaan drug use, property destruction, etc.;
narkoba, perusakan barang, dan sebagainya;
2. Melanggar pedoman Kode Etik, misalnya benturan 2. Violations of ethical code guidelines, such as conflicts
kepentingan, pelecehan, terlibat dalam kegiatan of interest, harassment, involvement in prohibited
masyarakat yang dilarang; community activities;
3. Melanggar prinsip Standar Akuntansi Keuangan yang 3. Violations of Financial Accounting Standards
berlaku; principles;
4. Melanggar kebijakan dan prosedur operasional, 4. Violations of operational policies and procedures, or
ataupun kebijakan, prosedur dan peraturan lain yang other relevant policies, procedures, and regulations
relevan dengan Perseroan; of the Company;
5. Menyalahgunakan wewenang atau jabatan untuk 5. Abuse of authority or position for personal, family,
kepentingan pribadi, keluarga dan/atau golongan/ and/or group interests;
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
kelompok;
6. Melakukan ketidakberesan tindakan (irregularity), 6. Irregular actions, such as document forgery,
seperti pemalsuan dokumen, kesalahan apropriasi misappropriation of resources (assets, funds, office
( misappropriation ) sumberdaya (aset, dana, supplies, etc.), unauthorized use or misuse of fixed
perlengkapan kantor dan lainnya), serta penggunaan assets, machinery, office equipment, or office
yang tak berdasarkan otorisasi atau penyalahgunaan administration records/bookkeeping;
aset tetap, mesin dan peralatan kantor atau catatan/
pembukuan administrasi kantor;
7. Tindakan kecurangan lainnya yang dapat 7. Other fraudulent actions that may cause financial or
menimbulkan kerugian finansial ataupun non- non-financial losses;
finansial;
8. Tindakan yang membahayakan keselamatan kerja; 8. Actions that endanger occupational safety;
9. Gratifikasi, sebagaimana diatur dalam peraturan 9. Gratification, as regulated by laws and regulations;
perundang-undangan; dan and
10. Terdapat benturan kepentingan yang diduga 10. Suspected conflicts of interest that may have adverse
dapat menimbulkan dampak yang merugikan bagi effects on the Company.
Perseroan.
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Untuk meningkatkan efektivitas WBS, Perseroan To enhance the effectiveness of the Whistleblowing
menyediakan media pelaporan/pengaduan yang System, the Company has prepared a means of
dapat dilakukan secara anonim, tanpa mencantumkan submitting reports/complaints that are anonymous
identitas atau nama pelapor. Namun, pelapor tetap (without identity or name), but require a valid email
diminta memberikan alamat e-mail atau nomor address or telephone number so that the SPP manager
telepon yang valid, agar petugas WBS dapat melakukan can communicate for data verification and progress
verifikasi data dan memberikan informasi terkait updates. Whistleblowers can submit reports/complaints
perkembangan laporan. Pelaporan atau pengaduan regarding violations or potential violations through the
mengenai pelanggaran atau potensi pelanggaran dapat following means/media:
disampaikan melalui sarana/media berikut:
1. Komunikasi secara tatap muka langsung dengan 1. Face-to-face communication directly with the
petugas Pengelola Sistem Pelaporan Pelanggaran Violation Reporting System (SPP)/Whistleblower
(SPP)/Whistleblower Officer; Officer;
2. Faksimili: +62 21 8082 5222; 2. Facsimile: +62 21 8082 5222;
3. Telepon: (021) 80825233 (Direct Number) dengan 3. Telephone: (021) 80825233 (Direct Number) with the
penambahan Fitur Pesan Suara (Voice Mail) dan Call addition of Voice Mail and Call Forwarding features
Forwarding untuk menjaga prinsip anonim; to maintain anonymity;
4. E-mail: spp@ptsmi.co.id; 4. Email: spp@ptsmi.co.id;
5. Situs Web: http://spp.ptsmi.co.id (aplikasi yang lebih 5. Website: http:/spp.ptsmi.co.id (a more secure
aman dengan fitur enkripsi). Aplikasi membutuhkan application with encryption features). The application
alamat email yang valid untuk proses komunikasi; dan requires a valid email address for communication
purposes; and
6. Surat tertutup, dengan mencantumkan Kode “SPP” 6. Sealed letter, with the code "SPP" on the upper right
pada kanan atas amplop, dan ditujukan kepada; of the envelope, addressed to;
7. Direktur Utama atau Kepala Divisi Kepatuhan (dalam 7. President Director or Head of Compliance Division (in
hal Terlapor Karyawan), atau case the Reported Party is an Employee), or
8. Komisaris Utama (dalam hal Terlapor adalah Direksi 8. President Commissioners (in case the Reported
dan/atau Organ Dewan Komisaris). Party is the Directors and/or Board of Commissioners
Members).
Pelapor dapat mengirim surat tertutup tersebut ke alamat Whistleblower can send the sealed letter to the address:
berikut:
PT Sarana Multi Infrastruktur (Persero)
Sahid Sudirman Center, Lantai 47-48
Jl. Jend Sudirman No. 86 Jakarta 10220, Indonesia
PT Sarana Multi Infrastruktur (Persero)
Sahid Sudirman Center, 47th-48th Floor
Jl. Jend Sudirman No. 86, Jakarta 10220, Indonesia
PERLINDUNGAN BAGI PELAPOR PROTECTION FOR WHISTLEBLOWERS
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
PT SMI senantiasa berkomitmen untuk memberikan PT SMI strives to continue to provide protection rights to all
perlindungan penuh kepada setiap pelapor dari whistleblowers from anything that may affect or endanger
segala risiko atau bahaya yang mungkin timbul akibat them as a result of the reported violations, as stated in the
pelaporan yang disampaikan. Hal ini diatur dan menjadi Technical Guidelines of the Company's Whistleblowing
landasan hukum dalam Petunjuk Teknis Sistem Pelaporan System as the legal basis. The protection guaranteed by
Pelanggaran Perseroan. Bentuk perlindungan yang the Company to the whistleblower includes:
diberikan Perseroan kepada pelapor mencakup antara
lain:
1. Jaminan kerahasiaan identitas pelapor dan isi 1. Guarantee of confidentiality of the whistleblower’s
laporan yang disampaikan; identity and the report’s content;
2. Jaminan perlindungan terhadap perlakuan yang 2. Guarantee of protection for whistleblowers against
merugikan pelapor; adverse treatment;
3. Jaminan perlindungan kemungkinan adanya 3. Guarantee of protection against possible acts of
tindakan ancaman, intimidasi, hukuman ataupun threats, intimidation, punishment or unpleasant
tindakan tidak menyenangkan dari pihak terlapor; dan conduct from the reported party;
4. Penegakan tindakan disiplin dan termasuk 4. Disciplinary action will be imposed, including
pemberhentian kerja bagi karyawan yang melakukan termination of employment to employees who commit
tindakan balas dendam terhadap pelapor. retaliation against the whistleblower.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Perlindungan terhadap pelapor dilaksanakan Protection for whistleblowers is implemented if the
apabila pelaporan pelanggaran memenuhi kriteria reported violations meet the disclosure criteria as follows:
pengungkapan dengan berikut:
1. Beritikad baik berdasarkan dorongan moral dan etika 1. Acting in good faith, driven by moral and ethical
serta tidak mengharapkan imbalan materi dan/atau principles, without expecting material rewards and/
popularitas; or popularity.
2. Dugaan pelanggaran yang disampaikan telah 2. The alleged violation reported must have occurred
terjadi dan dapat dipercaya dengan dukungan bukti, and be credible, supported by adequate evidence,
informasi atau indikasi yang memadai. information, or indications.
PIHAK YANG MENGELOLA DAN PARTY RESPONSIBLE FOR MANAGING
CARA PENANGANAN PENGADUAN AND HANDLING COMPLAINTS
Perseroan menetapkan Divisi Kepatuhan sebagai The Company has appointed the Compliance Division
pengelola WBS, sesuai dengan Surat Keputusan Direksi as the manager of the WBS, as stipulated in Decree
No. SK-020/SMI/1122 tanggal 22 November 2022 mengenai of the Board of Directors No. SK-020/SMI/1122 dated
Penunjukan Pengelola Sistem Pelaporan Pelanggaran November 22, 2022, concerning the Appointment of the
(SPP). Divisi Kepatuhan telah membangun mekanisme Whistleblowing System (SPP). The complaint handling
penanganan pengaduan, yang meliputi: mechanism that has been established by the Compliance
Division, as follows:
1. Pengaduan yang masuk dari berbagai saluran 1. Complaints received through various channels
diterima (website, telepon, e-mail, faksimili, dan surat) (website, telephone, email, fax, and mail) are recorded
akan dicatat oleh petugas pengelola SPP. by the WBS manager.
2. Petugas pengelola SPP melakukan verifikasi awal atas 2. The WBS manager conducts an initial verification of
laporan pengaduan dengan memperhatikan 4W1H the complaint by paying attention to the 4W1H (What,
(What, Who, Where, When, How) dan data pendukung Who, Where, When, How) and supporting data for the
kepada Pelapor selama 14 hari kerja. Whistleblower for 14 working days.
3. Pelapor melengkapi data pendukung kepada petugas 3. The Whistleblower completes the supporting data for
pengelola SPP. the SPP manager.
4. Apabila verifikasi awal telah terpenuhi maka petugas 4. If the initial verification has been met, the WBS
pengelola SPP akan meminta persetujuan Pejabat manager will request approval from the Authorized
Berwenang Memutuskan (PBM) untuk tindak lanjut Decision-Making Officer (PBM) for further investigation,
investigasi, yaitu: namely:
a. Apabila pengaduan terkait karyawan Perseroan a. If the complaint is related to Company Employees
atau pihak eksternal, maka akan diteruskan or External parties, it will be forwarded to the
kepada Direktur Utama; President Director;
b. Apabila pengaduan terkait dengan anggota b. If the complaint is related to the Board of Directors
Direksi, maka akan diteruskan kepada Dewan Members, it will be forwarded to the Board of
Komisaris; dan Commissioners; and
c. Apabila pengaduan selain kriteria tersebut di c. If the complaint does not fall under the above
atas (anggota Dewan Komisaris, anggota Organ criteria (members of the Board of Commissioners,
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Pendukung Dewan Komisaris, atau anggota Dewan Members of the Supporting Organ of the Board
Pengawas Syariah), maka akan disampaikan of Commissioners, or Members of the Sharia
kepada Dewan Komisaris dan Direksi dengan Supervisory Board), it will be submitted to the
catatan bahwa dalam hal terlapor merupakan Board of Commissioners and the Board of Directors
bagian dari Pejabat Berwenang Memutus (PBM) with a note that in the case where the reported
maka terlapor dikecualikan sebagai PBM. Namun, party is part of the Authorized Decision-Making
petugas pengelola SPP dapat juga meminta Officer (PBM), the reported party is exempted as
persetujuan penghentian kepada PBM jika data the PBM. However, the SPP manager may also
pendukung tidak memadai. request approval for termination from the PBM if
the supporting data is inadequate.
5. Tim investigasi yang ditunjuk baik internal maupun 5. The investigation team, whether internal or external,
eksternal akan bekerja dalam kurun waktu 90 hari will work within a period of 90 working days to
kerja untuk penyelesaian penyelidikan. complete the investigation.
6. Hasil tindak lanjut investigasi yang terbukti 6. The results of the investigation, if proven to be a
pelanggaran ketentuan akan diberikan sanksi sesuai violation of the provisions, will be subject to sanctions
ketentuan yang berlaku. according to the applicable provisions.
7. Petugas pengelola SPP akan menyampaikan 7. The WBS manager will inform the Whistleblower and
informasi kepada Pelapor dan memonitor tindak monitor the follow-up actions of the Investigation
lanjut rekomendasi tim Investigasi agar memitigasi team to mitigate recurring incidents.
740 kejadian yang terulang.
Page 471
8. Petugas Pengelola SPP wajib melakukan pelaporan 8. The WBS manager is obliged to report on the results of
hasil pengelolaan SPP yang telah memenuhi syarat WBS management that meets the minimum follow-
tindak lanjut minimal 3 (tiga) bulan sekali. up requirements every 3 (three) months.
JUMLAH PENGADUAN NUMBER OF COMPLAINT
PELANGGARAN DAN REPORTS AND IN PROGRESS
PELANGGARAN DALAM PROSES
Di tahun 2025, Perseroan tidak menerima laporan In 2024, the Company did not receive any new violation
pengaduan pelanggaran. reports
SANKSI ATAU TINDAK SANCTIONS OR FOLLOW-
LANJUT ATAS PENGADUAN UP ON COMPLAINTS THAT
YANG SELESAI DIPROSES HAVE BEEN PROCESSED
Di tahun 2025, tidak terdapat pengaduan yang telah In 2025, there were no complaints that had been fully
selesai diproses. Dengan demikian, tidak ada sanksi yang processed. Therefore, no sanctions were imposed on
diberikan kepada pihak terlapor. the reported parties.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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05 Tata Kelola Perusahaan
Good Corporate Governance
PELAKSANAAN LAPORAN HARTA KEKAYAAN
PENYELENGGARA NEGARA (LHKPN)
STATE OFFICIALS’ ASSETS REPORT (LHKPN)
LANDASAN HUKUM LEGAL BASIS FOR LHKPN
PELAKSANAAN LHKPN IMPLEMENTATION
Sebagai bagian dari tanggung jawab korporasi yang PT SMI as a responsible corporate citizen strives to comply
baik, PT SMI berupaya mematuhi seluruh ketentuan yang with all applicable regulations, including the submission
berlaku, termasuk kewajiban penyampaian Laporan Harta of State Officials' Assets Report (LHKPN) for its officials.
Kekayaan Penyelenggara Negara (LHKPN) oleh pejabat Aside from demonstrating commitment to accountability
Perseroan. Pelaporan ini tidak hanya mencerminkan and transparency, LHKPN serves as a manifestation of
akuntabilitas dan transparansi, tetapi juga merupakan the Company's support for government initiatives aimed
bentuk dukungan Perseroan terhadap program at preventing and eradicating corruption, collusion, and
pemerintah dalam pencegahan dan pemberantasan nepotism in state administration. Information regarding
praktik korupsi, kolusi, dan nepotisme (KKN) di lingkungan LHKPN for Company officials was accessible to the public
penyelenggaraan negara. Informasi LHKPN pejabat via the kpk.go.id website.
Perseroan dapat diakses publik melalui situs resmi KPK
di kpk.go.id.
Pelaksanaan LHKPN di Perseroan mengacu pada sejumlah The implementation of LHKPN in the Company refers to
peraturan, antara lain: several regulations, such as:
1. Undang-Undang No. 28 Tahun 1999 tentang 1. Law No. 28 of 1999 concerning State Officials who
Penyelenggara Negara yang Bersih dan Bebas dari are Clean and Free from Corruption, Collusion and
Korupsi, Kolusi dan Nepotisme; Nepotism;
2. Peraturan Komisi Pemberantasan Korupsi Republik 2. Regulation of the Corruption Eradication
Indonesia No. 7 Tahun 2016 tentang Tata Cara Commission of the Republic of Indonesia (KPK) No.
Pendaftaran, Pengumuman dan Pemeriksaan Harta 7 of 2016 concerning Procedures for Registration,
Kekayaan Penyelenggara Negara; Announcement and Audit of State Officials’ Assets;
3. Peraturan Komisi Pemberantasan Korupsi Republik 3. Regulation of the Corruption Eradication Commission
Indonesia No. 2 Tahun 2020 tentang Perubahan atas of the Republic of Indonesia (KPK) No. 2 of 2020
Peraturan Komisi Pemberantasan Korupsi No. 7 Tahun concerning Amendments to KPK Regulation No. 7 of
2016; dan 2016; and
4. Peraturan Direksi No. PD-031/SMI/0822 tentang 4. Regulation of the Board of Directors No. PD-031/
Pembentukan Kewajiban Laporan Harta Kekayaan SMI/0822 concerning the Establishment of Obligation
Penyelenggara Negara di Lingkungan PT Sarana Multi to Report State Officials’ Assets within PT Sarana Multi
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Infrastruktur (Persero). Infrastruktur (Persero).
PENGELOLAAN LHKPN LHKPN ADMINISTRATION
PT SMI menempatkan Unit Pengelola LHKPN (UPL) di bawah PT SMI places the LHKPN Management Unit (UPL) under
Divisi Sumber Daya Manusia sebagai pihak utama yang the Human Capital Division as the main party responsible
bertanggung jawab atas pengelolaan pelaporan LHKPN for managing LHKPN reporting within the Company. The
di lingkungan Perseroan. Pengelolaan LHKPN tersebut management of LHKPN is stipulated based on the Decree
ditetapkan berdasarkan SK Direksi PT SMI (Persero) No. SK- of the Board of Directors of PT SMI (Persero) No. SK-015/
015/SMI/0822 tentang Penetapan Personel Unit Pengelola SMI/0822 concerning the Appointment of Personnel of the
Laporan Harta Kekayaan Penyelenggara Negara di State Officials’ Asset Report (LHKPN) Management Unit
Lingkungan PT Sarana Multi Infrastruktur (Persero). within PT Sarana Multi Infrastruktur (Persero).
Berikut tugas utama Unit Pengelola LHKPN: The main duties of the LHKPN Management Unit include:
1. Melakukan koordinasi dengan KPK, terkait monitoring 1. Coordinate with KPK on monitoring and evaluating
dan evaluasi terhadap kepatuhan pemenuhan the compliance of submitting and announcing
kewajiban penyampaian dan mengumumkan LHKPN; LHKPN;
2. Mengingatkan para wajib lapor dan anggota Dewan 2. Remind the mandatory reporters and members of the
Komisaris untuk mematuhi kewajiban penyampaian Board of Commissioners to comply with the obligation
742
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dan pengumuman LHKPN sesuai dengan ketentuan to submit and announce LHKPN pursuant to prevailing
yang berlaku; provisions;
3. Melakukan koordinasi internal UPL terkait penyampaian 3. Coordinate with internal UPL on LHKPN submission;
LHKPN;
4. Memberikan konsultasi internal UPL terkait 4. Consult internal UPL on using LHKPN application, and
penggunaan aplikasi LHKPN, serta hal-hal lain yang other things related to LHKPN administration;
terkait pengelolaan LHKPN;
5. Melakukan sosialisasi LHKPN, koordinasi dan 5. Disseminate LHKPN, coordinate and assist in
pendampingan pengisian LHKPN bagi wajib lapor di completing LHKPN for mandatory reporters within
lingkungan Perseroan; the Company;
6. Menyampaikan data kepegawaian dan data 6. Submit employment data and position change data
perubahan jabatan Wajib Lapor kepada KPK setiap for Mandatory Reporters to KPK every year;
tahun;
7. Merekomendasikan penjatuhan hukuman disiplin 7. Recommend giving disciplinary sanctions for
bagi wajib lapor yang tidak maupun terlambat mandatory reporters not submitting or late in
menyampaikan LHKPN, untuk ditetapkan oleh Direksi submitting LHKPN, to be stipulated by the Company’s
Perseroan; dan Board of Directors; and
8. Menjaga kerahasiaan data dan informasi terkait 8. Maintain data and information confidentiality on
penyampaian LHKPN di lingkungan Perseroan. LHKPN submission within the Company.
PT SMI telah menunjuk pejabat yang wajib menyerahkan PT SMI has also determined officials who are required to
LHKPN, dengan ketentuan sebagai berikut: submit LHKPN with the following provisions:
1. Seluruh anggota Dewan Komisaris yang tengah 1. All members of the Board of Commissioners who are
menjabat pada periode pelaporan tanpa kecuali; in office during the reporting period, without exception;
2. Seluruh anggota Direksi yang tengah menjabat pada 2. All members of the Board of Directors who are in office
periode pelaporan tanpa kecuali; during the reporting period, without exception;
3. Seluruh Kepala Divisi yang tengah menjabat pada 3. All Heads of Division who are in office during the
periode pelaporan tanpa kecuali; reporting period, without exception;
4. Pejabat yang bertanggung jawab secara langsung 4. Officials equivalent to Heads of Division who report
kepada Direksi setara Kepala Divisi; dan directly to the Board of Directors;
5. Pejabat Sementara Kepala Divisi yang telah menjabat 5. Acting Heads of Division who have served for 1 (one)
selama 1 (satu) tahun pada periode pelaporan; dan year at the time when the LHKPN is due; and
6. Karyawan dan/atau non-karyawan Perseroan 6. Employees and/or non-employees of the Company
yang ditugaskan menjadi Direksi dan/atau Dewan who are assigned to serve as Directors and/or Board of
Komisaris di Anak Perusahaan/Perusahaan Terafiliasi/ Commissioners in Subsidiaries/Affiliated Companies/
Perusahaan Asosiasi/Perusahaan Penyertaan Saham Associated Companies/Share Investment Companies
yang terkonsolidasi dengan Perseroan. consolidated with the Company.
PROSEDUR PELAPORAN LHKPN LHKPN REPORTING PROCEDURE
LHKPN wajib disampaikan satu (1) kali dalam setahun The LHKPN had to be submitted once a year to the
kepada Komisi Pemberantasan Korupsi (KPK). Terhitung Corruption Eradication Commission (KPK). Starting PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
mulai 1 Januari 2017 penyampaian LHKPN berlaku secara January 1, 2017, LHKPN submission was valid electronically
elektronik melalui aplikasi berbasis web e-LHKPN. Prosedur via the e-LHKPN web-based application. The procedure
penyampaian LHKPN Perseroan mengacu pada Peraturan for submitting the Company's LHKPN referred to Regulation
KPK No. 07 Tahun 2016 tentang Tata Cara Pendaftaran, of the Corruption Eradication Commission No. 07 of 2016
Pengumuman dan Pemeriksaan Harta Kekayaan concerning Procedures for Registration, Announcement,
Penyelenggara Negara, yang telah diperbarui dengan and Examination of the Assets of State Officials, which was
Peraturan KPK No. 02 tahun 2020 yang berisi: updated with Regulation of the Corruption Eradication
Committee No. 02 of 2020, containing:
1. LHKPN disampaikan dalam jangka waktu paling 1. LHKPN shall be submitted within a period of no
lambat 3 (tiga) bulan terhitung sejak saat later than 3 (three) months since the date of
pengangkatan pertama/berakhirnya jabatan/ first appointment/ completion of term of office/
pensiun/pengangkatan kembali setelah berakhirnya retirement/ reappointment after the completion of
masa jabatan atau pensiun sebagai Penyelenggara term of office or retirement as State Officials; and
Negara; dan
2. LHKPN selama Penyelenggara Negara menjabat 2. During State Officials’ term of office, LHKPN is submitted
dilakukan secara periodik setiap 1 (satu) tahun sekali periodically once in a year, containing report on assets
atas harta kekayaan per tanggal 31 Desember tahun as of December 31 and submitted within a period of
laporan dan wajib disampaikan dalam jangka waktu no later than March 31 of the following year.
paling lambat tanggal 31 Maret tahun berikutnya. 743
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05 Tata Kelola Perusahaan
Good Corporate Governance
Langkah 1 Langkah 2 Langkah 3 Langkah 4 Langkah 5
Step 1 Step 2 Step 3 Step 4 Step 5
Wajib lapor
Wajib lapor mengisi Wajib Lapor Setelah melakukan
menyerahkan formulir
Formulir permohonan mendapatkan email login, wajib lapor dapat
yang telah diisi dan
aktivasi LHKPN yang UPL mendaftarkan akun notifikasi aktivasi akun melakukan pengisian
disertai KTP ke UPL.
telah diberikan oleh UPL. untuk wajib Lapor. untuk login website. LHKPN.
The Mandatory Reporter
The Mandatory Reporter UPL registers account for The Mandatory Reporter After logging in, the
submits the completed
fills out the LHKPN the Mandatory Reporter. receives notification of mandatory reporters
activation form and the
activation request form account activation to can proceed with filling
ID card to UPL.
provided by UPL. login into e-filling. out the LHKPN.
Sepanjang tahun 2025, Perseroan melaksanakan Throughout 2025, the Company fulfilled its LHKPN reporting
kewajiban pelaporan LHKPN secara tertib dan tepat waktu. obligations in an orderly and timely manner. Therefore,
Oleh karena itu, pada tahun buku 2025, tidak terdapat in the 2025 fiscal year, there were no sanctions imposed
sanksi yang dijatuhkan kepada Perseroan . on the Company.
PENYAMPAIAN LHKPN SUBMISSION OF LHKPN IN 2025
DI TAHUN 2025
Berdasarkan Undang-Undang No. 28 Tahun 1999 Law No. 28 of 1999 concerning State Administrators
tentang Penyelenggara Negara yang Bersih dan who are Clean and Free from Corruption, Collusion and
Bebas dari Korupsi, Kolusi, dan Nepotisme, setiap Nepotism mandates that every administrator is obliged to
penyelenggara negara diwajibkan untuk melaporkan report and declare his assets before and after assuming
dan mengumumkan Harta Kekayaannya sebelum dan office and be willing to have his assets checked before
sesudah menjabat, serta bersedia diperiksa kekayaannya and after taking office.
pada kedua periode tersebut.
Di tahun 2025, terdapat 39 (tiga puluh sembilan) orang In 2025, the number of mandatory reporters within the
yang termasuk dalam kategori wajib lapor di lingkungan Company amounted to 39 (thirty-nine) people, with a
Perseroan, dengan tingkat kepatuhan pelaporan LHKPN compliance level of 100% among officials mandated
mencapai 100%. Informasi mengenai daftar wajib lapor to report their LHKPN. Information regarding the list
yang telah menyampaikan harta kekayaannya kepada of mandatory reporters who submitted their asset
KPK adalah sebagai berikut: declarations to the Corruption Eradication Commission
can be found below:
Jabatan pada Periode Tanggal Tanggal
Nama Pelaporan di Perseroan Penyampaian LHKPN
Name
Position on the Reporting Date in the Company Date of LHKPN Submission
Dewan Komisaris
Board of Commissioners
Komisaris Utama
Suminto 26/02/2025
President Commissioner
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Komisaris Independen
Ancella Anitawati Hermawan 02/11/2024
Independent Commissioner
Komisaris Independen
Arief Wibisono Lubis 28/02/2025
Independent Commissioner
Komisaris Independen
Dikdik Yustandi 05/03/2025
Independent Commissioner
Komisaris
Suryo Utomo 27/02/2025
Commissioner
Direksi
Board of Directors
Direktur Utama
Reynaldi Hermansjah 15/01/2025
President Director
Direktur Operasional Dan Keuangan
Aradita Priyanti 27/03/2025
Director of Operations and Finance
Direktur Pembiayaan Publik & Pengembangan Proyek
Faaris Pranawa 30/03/2025
Director of Public Financing and Project Development
Direktur Manajemen Risiko
Pradana Murti 30/03/2025
Director of Risk Management
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Jabatan pada Periode Tanggal Tanggal
Nama Pelaporan di Perseroan Penyampaian LHKPN
Name
Position on the Reporting Date in the Company Date of LHKPN Submission
Direktur Pembiayaan Dan Investasi
Sylvi Juniarty Gani 29/03/2025
Director of Financing and Investment
Kepala Divisi
Heads of Division
Kepala Divisi Evaluasi Lingkungan Sosial & Teknik
Gan Gan Dirgantara Head of the Environmental, Social and Technical Evaluation 27-03-2025
Division
Kepala Divisi Evaluasi Pembiayaan dan Investasi
Hendry 13-02-2025
Head of the Financing and Investment Evaluation Division
Kepala Divisi Hukum
Bibin Sibyanudin 26-03-2025
Head of the Legal Division
Kepala Divisi Kepatuhan
Mohamad Sjafari 30-03-2025
Head of the Compliance Division
Kepala Divisi Manajemen Risiko Terintegrasi
Peggy Fathiya 28-03-2025
Head of the Integrated Risk Management Division
Kepala Divisi Pengelolaan Pembiayaan & Investasi Khusus
Hatta Muttaqin Head of the Special Financing and Investment Management 14-02-2025
Division
Kepala Divisi Akuntansi Administrasi Aset
Syahrial Noviananta 08-03-2025
Head of the Accounting and Asset Administration Division
Kepala Divisi Keuangan & Hubungan Investor
Willy Sam 23-03-2025
Head of the Finance and Investor Relations Division
Kepala Divisi Pengelolaan Operasional Pembiayaan
Rintis Sitaresmi 05-03-2025
Head of the Financing Operations Management Division
Kepala Divisi Teknologi Informasi
Romanus Tory Kusumantara 25-03-2025
Head of the Information Technology Division
Kepala Divisi Umum & Pengadaan
Tjipto Adi Utomo 26-03-2025
Head of the General Affairs and Procurement Division
Kepala Divisi Jasa Konsultasi
Adi Pranasatrya 28-03-2025
Head of the Advisory Services Division
Kepala Divisi Pembiayaan 2
Ekha Yudha Pratama 10-03-2025
Head of the Financing Division 2
Kepala Divisi Pembiayaan Berkelanjutan
Benedictus Pudji Hartono 19-02-2025
Head of the Sustainable Financing Division
Kepala Divisi Penyertaan Modal
Isnaputra Iskandar 06-03-2025
Head of the Equity Investment Division
Kepala Divisi Usaha Syariah
Arief Subekti 21-03-2025
Head of the Sharia Business Division
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
Kepala Divisi Pembiayaan Publik 1
Erdian Dharmaputra Th 04-03-2025
Head of the Public Financing Division 1
Kepala Divisi Pembiayaan Publik 3
Adri Asmoro Laksono Poesoro 27-02-2025
Head of the Public Financing Division 3
Kepala Divisi Pengembangan Proyek
Delano Dalo 28-03-2025
Head of the Project Development Division
Kepala Divisi Audit Internal
Setyo Wibowo 14-02-2025
Head of the Internal Audit Division
Kepala Divisi Pengembangan Korporasi & Manajemen Inisiatif
Agus Iman Solihin Head of the Corporate Development and Initiative 30-03-2025
Management Division
Kepala Divisi Riset Ekonomi
Kadek Dian Sutrisna Artha 22-03-2025
Head of the Economic Research Division
Kepala Divisi Sekretariat Perusahaan
Ramona Harimurti 02-02-2025
Head of the Corporate Secretariat Division
745
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05 Tata Kelola Perusahaan
Good Corporate Governance
WAJIB LAPOR DI ANAK MANDATORY REPORTERS
PERUSAHAAN IN SUBSIDIARIES
Tanggal Penyampaian
Nama Jabatan pada Periode Tanggal Pelaporan di Perseroan LHKPN
Name Position on the Reporting Date in the Company Date of LHKPN
Submission
Dewan Komisaris
Board of Commissioners
Komisaris Utama - PT Cimanggis Cibitung Tollways
Djadjat Sudradjat 27-03-2025
President Commissioner - PT Cimanggis Cibitung Tollways
Direksi
Board of Directors
Direktur Keuangan - PT Cimanggis Cibitung Tollways –
Yefri Rahardja 05-03-2025
Director of Finance – PT Cimanggis Cibitung Tollways
Direktur Utama - PT Cimanggis Cibitung Tollways
Indar Barung 07-03-2025
Director of Finance – PT Cimanggis Cibitung Tollways
Direktur Teknik & Operasi - PT Cinere Serpong Jaya
Victor Edward Sasdiyarto 16-03-2025
Director of Engineering and Operations – PT Cinere Serpong Jaya
Direktur Keuangan - PT Trans Jabar Tol
Ashadi 26-03-2025
Director of Finance – PT Trans Jabar Tol
Direktur Utama - PT Trans Jabar Tol – Direksi
Abdul Hakim Supriyadi 21-03-2025
President Director – PT Trans Jabar Tol – Board of Directors
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
746
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PENERAPAN PEDOMAN TATA KELOLA
PERUSAHAAN - POJK NO. 21/POJK.04/2015
IMPLEMENTATION OF GCG CODE – REGULATION OF THE
FINANCIAL SERVICES AUTHORITY NO. 21/POJK.04/2015
Mendorong tata kelola perusahaan yang unggul, To promote excellent corporate governance, the Company
Perseroan melaksanakan self-assessment untuk conducts a self-assessment to review, compare, and
meninjau, membandingkan, dan mengevaluasi evaluate the implementation of governance guidelines
penerapan pedoman tata kelola dengan referensi POJK with reference to Regulation of the Financial Services
No. 21/POJK.04/2015 dan SEOJK No. 32/SEOJK.04/2015 Authority No. 21/POJK.04/2015 and Circular Letter of
tentang Penerapan Pedoman Tata Kelola Perusahaan the Financial Services Authority No. 32/SEOJK.04/2015
Terbuka. Pedoman ini mencakup 5 (lima) aspek, 8 concerning the Implementation of Corporate Governance
(delapan) prinsip tata kelola perusahaan yang baik, Guidelines for Public Companies. These guidelines cover
serta 25 (dua puluh lima) rekomendasi penerapan. 5 (five) aspects, 8 (eight) principles of good corporate
governance, and 25 (twenty-five) implementation
recommendations.
Meskipun Perseroan tidak diwajibkan mengikuti ketentuan Although the Company is not required to comply with
tersebut karena bukan perusahaan terbuka, inisiatif ini these provisions as it is not a public company, this
mencerminkan komitmen PT SMI untuk menerapkan initiative reflects PT SMI’s commitment to implementing
praktik tata kelola yang transparan, akuntabel, dan governance practices that are transparent, accountable,
profesional. Hasil penerapan aspek dan prinsip tata kelola and professional. The results of the implementation of
di PT SMI sepanjang tahun 2025 adalah sebagai berikut: governance aspects and principles at PT SMI throughout
2025 are as follows:
Aspek Prinsip Rekomendasi Complied/ Implementasi/ Penjelasan
Aspects Principles Recommendations Explained Implementation/ Explanation
Perusahaan Terbuka
memiliki cara atau
prosedur teknis
Hubungan Perusahaan Prinsip 1 pengumpulan suara
Terbuka dengan Meningkatkan Nilai (voting) baik secara
Pemegang Saham Penyelenggaraan terbuka maupun tertutup
dalam Menjamin Hak- Rapat Umum yang mengedepankan Board Manual dan Kebijakan Tata
Hak Pemegang Saham Pemegang Saham independensi, dan Kelola Perusahaan.
Complied
The Public Company’s (RUPS) kepentingan pemegang Board Manual and Governance
Relationship with Principle 1 saham. Guideline.
Shareholders in Improving the Value of The Public Company
ensuring the Right of the the General Meeting of has a technical voting
Shareholders Shareholders (GMS) procedure, either open
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
or closed, that promotes
independency and the
interest of shareholders.
Seluruh anggota Direksi Seluruh anggota Direksi dan
dan anggota Dewan anggota Dewan Komisaris atau
Komisaris Perusahaan Kuasanya hadir dalam RUPS
Terbuka hadir dalam RUPS Tahunan.
Tahunan. All members of the Board
Complied
All members of the Board of Directors and Board of
of Directors and the Board Commissioners or their
of Commissioners are representatives with power of
present at the Annual attorney were present in the Annual
GMS. GMS.
747
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05 Tata Kelola Perusahaan
Good Corporate Governance
Aspek Prinsip Rekomendasi Complied/ Implementasi/ Penjelasan
Aspects Principles Recommendations Explained Implementation/ Explanation
Risalah RUPS belum tersedia dalam
situs web dikarenakan PT SMI
Ringkasan risalah RUPS bukan Perusahaan Terbuka, namun
tersedia dalam Situs Web Perseroan selalu menyampaikan
Perusahaan Terbuka laporan hasil RUPS kepada regulator
paling sedikit selama 1 sesuai peraturan perundang-
(satu) tahun. undangan yang berlaku.
Complied
Summary of the GMS Minutes of GMS are not yet available
minutes is available on in the website, because PT SMI is not
the public Company’s a Public Company. However, the
website for at least 1 (one) Company always delivers report
year. on GMS outcome to regulators
according to the prevailing laws and
regulations.
Prinsip 2
Meningkatkan
Kualitas Komunikasi 2.1) Perusahaan Terbuka
Perusahaan Terbuka memiliki suatu kebijakan
dengan Pemegang komunikasi dengan
Kebijakan Tata kelola dan Code of
Saham atau Investor. pemegang saham atau
Conduct
Principle 2 investor. Complied
Governance Policy and Code of
Improving the The Public Company has
Conduct
Communication a communication policy
Quality of the Public with shareholders or
Company with investors.
Shareholders or
Investors.
PT SMI memiliki Prosedur
Komunikasi, Sosialisasi dan
Penyampaian Informasi dan
Prosedur Pengelolaan Website,
namun karena PT SMI bukan
2.2) Perusahaan Terbuka merupakan Perusahaan Terbuka
mengungkapkan sehingga tidak mempublikasikan
kebijakan komunikasi kedua prosedur dimaksud pada
Perusahaan Terbuka situs web. Namun PT SMI telah
dengan pemegang mempublikasikan Kebijakan Tata
saham atau investor Kelola Perusahaan dan Code of
Explained
dalam Situs Web. Conduct.
The Public Company PT SMI has Communication,
discloses its Socialization, and Information
communication policy Delivery Procedures and Website
with shareholders or Management Procedures. However,
investors in the website. since PT SMI is not a Public
Company, it does not publish
these procedures on its website.
Nevertheless, PT SMI has published
its Corporate Governance Policy
and Code of Conduct.
3.1) Penentuan jumlah
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Prinsip 3
anggota Dewan
Memperkuat
Komisaris
Keanggotaan dan
mempertimbangkan
Fungsi dan Peran Komposisi Dewan
kondisi Perusahaan
Dewan Komisaris Komisaris. Anggaran Dasar dan Board Manual.
Terbuka.
The Function and Principle 3 Complied Articles of Association and Board
Total members of the
Role of the Board of Strengthening Manual.
Board of Commissioners
Commissioners the Board of
members are determined
Commissioners’
by considering the
Membership and
condition of the Public
Composition.
Company.
748
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Aspek Prinsip Rekomendasi Complied/ Implementasi/ Penjelasan
Aspects Principles Recommendations Explained Implementation/ Explanation
3.2) Penentuan komposisi
anggota Dewan Dewan Komisaris Perseroan terdiri
Komisaris memerhatikan dari anggota dengan berbagai
keragaman keahlian, keahlian, latar belakang pendidikan
pengetahuan, dan dan pengalaman kerja. Keterangan
pengalaman yang lengkap tersedia pada bagian profil
dibutuhkan. Dewan Komisaris.
The member Complied The Company’s Board of
composition of the Commissioners consists of
Board of Commissioners members with various expertise,
is determined by educational background and
considering the diversity work experience. A full description
in the required expertise, is available in the Board of
knowledge and Commissioners’ profile section.
experience.
Prinsip 4
4.1) Dewan Komisaris
Meningkatkan Kualitas
mempunyai kebijakan Laporan Perkembangan Realisasi
Pelaksanaan Tugas
penilaian sendiri (self- Indikator Pencapaian Kinerja Dewan
dan Tanggung Jawab
assessment) untuk Komisaris, Board Manual dan
Dewan Komisaris.
menilai kinerja Dewan Kebijakan GCG.
Principle 4 Complied
Komisaris. Progress Report on Performance
Improving the Quality
The Board of Indicator Realization for the Board of
of the Board of
Commissioners has a Commissioners, Board Manual, and
Commissioners’ in
self-assessment policy to GCG Guideline.
delivering its duties
appraise its performance.
and responsibilities.
4.2) Kebijakan penilaian
sendiri (self-assessment)
untuk menilai kinerja
Dewan Komisaris,
diungkapkan melalui
Laporan Tahunan Board Manual, Kebijakan GCG dan
Perusahaan Terbuka. Laporan Tahunan.
Complied
The self-assessment Board Manual, GCG Guideline, and
policy of the Board Annual Report.
of Commissioners’
Performance appraisal is
disclosed in the Annual
Report of the Public
Company.
4.3) Dewan Komisaris
mempunyai kebijakan
terkait pengunduran diri
anggota Dewan Komisaris
apabila terlibat dalam
kejahatan keuangan. Anggaran Dasar dan Board Manual.
The Board of Complied Articles of Association and Board
Commissioners has a Manual.
policy regarding the
resignation of the Board of
Commissioners’ members
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
should they be involved in
financial crimes.
4.4) Dewan Komisaris
atau Komite yang
menjalankan fungsi
Nominasi dan Remunerasi
menyusun kebijakan Board Manual, Kebijakan Tata Kelola
suksesi dalam proses Perusahaan dan Piagam Komite
Nominasi anggota Direksi. Nominasi dan Remunerasi.
The Board of Complied Board Manual, Governance
Commissioners or Guideline, and the Charter of the
the Nomination and Nomination and Remuneration
Remuneration Committee Committee.
prepares the succession
policy in the Board of
Directors’ nomination
process.
749
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05 Tata Kelola Perusahaan
Good Corporate Governance
Aspek Prinsip Rekomendasi Complied/ Implementasi/ Penjelasan
Aspects Principles Recommendations Explained Implementation/ Explanation
5.1) Penentuan jumlah
anggota Direksi
mempertimbangkan
Prinsip 5
kondisi Perusahaan
Memperkuat
Terbuka serta efektivitas
Keanggotaan dan
dalam pengambilan
Fungsi dan Peran Direksi Komposisi Direksi. Anggaran Dasar dan Board Manual.
keputusan.
The Function and Role of Principle 5 Complied Articles of Association and Board
Total members of
the Board of Directors Strengthening the Manual.
the Board of Director
Board of Directors’
are determined by
Membership and
considering the Public
Composition.
Company’s condition and
effectiveness in decision
making.
5.2) Penentuan
komposisi anggota Direksi Perseroan terdiri dari
Direksi memerhatikan, anggota dengan berbagai keahlian,
keberagaman keahlian, latar belakang pendidikan dan
pengetahuan, dan pengalaman kerja. Keterangan
pengalaman yang lengkap tersedia pada bagian Profil
dibutuhkan. Complied Direksi.
The composition of Board The Company’s Board of Directors
of Director members comprises of members with diverse
is determined by expertise, education and experience.
considering the diversity Complete information is available in
of expertise, knowledge, the Board of Directors Profile section.
and experience required.
Direktur Perseroan yang
membawahi keuangan memiliki
5.3) Anggota Direksi yang keahlian dan pengalaman kerja
membawahi bidang di bidang akuntansi. Keterangan
akuntansi atau keuangan lengkap tersedia di bagian
memiliki keahlian dan/ Profil Direksi untuk Darwin Trisna
atau pengetahuan di Djajawinata. Direktur Operasional &
bidang akuntansi. Keuangan.
Compiled
Members of the Board The Director of the Company who
of Directors who are in is in charge for finance, possesses
charge for accounting or expertise and experience in
finance possess expertise accounting. Complete information
and/or knowledge in is available in the Board of Directors
accounting Profile section for Darwin Trisna
Djajawinata. Operations & Finance
Director.
Prinsip 6
Meningkatkan Kualitas
6.1) Direksi mempunyai
Pelaksanaan Tugas
kebijakan penilaian
dan Tanggung Jawab
sendiri (self -assessment) Board Manual dan Kebijakan Tata
Direksi
untuk menilai kinerja Kelola Perusahaan.
Principle 6 Complied
Direksi. Board Manual and Governance
Improving the Quality
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
The Board of Directors has Policy
of the implementation
a self-assessment policy
of the Board of
to assess its Performance.
Directors’ Duties and
Responsibilities.
6.2) Kebijakan penilaian
sendiri (self-assessment)
untuk menilai kinerja
Direksi diungkapkan
melalui laporan tahunan Board Manual, Kebijakan Tata kelola
Perusahaan Terbuka. dan Laporan Tahunan.
Complied
The self-assessment Board Manual, Governance Policy,
policy on the Board of and Annual Report
Directors’ performance
assessment is disclosed
in the Annual Report of the
Public Company.
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Aspek Prinsip Rekomendasi Complied/ Implementasi/ Penjelasan
Aspects Principles Recommendations Explained Implementation/ Explanation
6.3) Direksi mempunyai
kebijakan terkait
pengunduran diri
anggota Direksi apabila
terlibat dalam kejahatan
Anggaran Dasar dan Board Manual.
keuangan.
Complied Articles of Association and Board
The Board of Directors has
Manual.
a policy regarding the
resignation of the Board
of Directors’ members
should they be involved in
financial crimes.
Prinsip 7
Meningkatkan
Aspek Tata Kelola 7.1) Perusahaan Terbuka
Perusahaan melalui memiliki kebijakan untuk
Partisipasi Pemangku
Partisipasi Pemangku mencegah terjadinya
Kepentingan
Kepentingan. insider trading. Complied Code of Conduct
Stakeholders
Principle 7 The Public Company has
Participation
Improving Corporate a policy to prevent insider
Governance through trading.
Stakeholders
Participation.
• Code of Conduct
• Prosedur Pengendalian
Gratifikasi
• Penerapan Program Anti
Pencucian Uang, Pencegahan
Pendanaan Terorisme dan
Pencegahan Proliferasi Senjata
Pemusnah Massal
• Prosedur Sistem Manajemen
7.2) Perusahaan Terbuka Anti Penyuapan
memiliki kebijakan anti • Prosedur Penerapan Strategi
korupsi dan anti-fraud. Anti-Fraud
Complied
The Public Company has • Code of Conduct
an anti-corruption and • Gratification Control Procedure
anti-fraud policy • Implementation of the Anti-
Money Laundering Program,
Prevention of Terrorism
Financing, and Prevention of the
Proliferation of Weapons of Mass
Destruction.
• Anti-Bribery Management
System Guidelines
• Anti-Fraud Implementation
Strategy Guidelines
7.3) Perusahaan Terbuka
memiliki kebijakan
tentang seleksi dan
Prosedur Pengadaan Barang dan
peningkatan kemampuan
Jasa.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
pemasok atau vendor Complied
Procurement of Goods and Services
The Public Company has
Guideline.
a policy on suppliers or
vendors selection and
capability improvement.
7.4) Perusahaan Terbuka
memiliki kebijakan
tentang pemenuhan hak-
hak kreditur. Complied Code of Conduct
The Public Company has
a policy on the fulfillment
of the creditor’s rights.
7.5) Perusahaan Terbuka
Petunjuk Teknis Pelaporan
memiliki kebijakan sistem
Pelanggaran (Whistleblowing
whistleblowing.
Complied System)
The Public Company has
Whistleblowing System Guideline
a policy on whistleblowing
Implementation/Explanation.
system.
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05 Tata Kelola Perusahaan
Good Corporate Governance
Aspek Prinsip Rekomendasi Complied/ Implementasi/ Penjelasan
Aspects Principles Recommendations Explained Implementation/ Explanation
7.6) Perusahaan Terbuka
memiliki kebijakan
pemberian insentif jangka
Kebijakan Tata Kelola Perusahaan,
panjang kepada Direksi
Code of Conduct dan Peraturan
dan karyawan.
Complied Perusahaan.
The Public Company has
Governance Guideline, Code of
a policy on providing long
Conduct and Company Regulations.
term incentives to the
Board of Directors and its
employees.
8.1) Perusahaan
Terbuka memanfaatkan
Prinsip 8 penggunaan teknologi
Melalui platform media sosial
Meningkatkan informasi secara
Instagram, Facebook, Youtube.
Pelaksanaan lebih luas selain situs
Informasi lengkap tersedia pada
Keterbukaan Informasi Keterbukaan Informasi web sebagai media
Bab Profil Perusahaan.
Information Principle 8 keterbukaan informasi. Complied
Through the social media platforms
Transparency Improving the The Public Company
of Instagram, Facebook, Youtube.
Implementation makes broader utilization
The full information is available on
of Information of information technology
the Company Profile Chapter.
Transparency besides website as
information transparency
media.
8.2) Laporan Tahunan
Perusahaan Terbuka
mengungkapkan
pemilik manfaat akhir
dalam kepemilikan
saham Perusahaan
Terbuka paling sedikit
5% (lima persen), selain
pengungkapan pemilik Perseroan merupakan BUMN di
manfaat akhir dalam bawah Kementerian Keuangan
kepemilikan saham di mana Pemegang Sahamnya
Perusahaan Terbuka 100% adalah Pemerintah RI melalui
melalui pemegang Menteri Keuangan.
Tidak Relevan
saham utama dan The Company is a State-Owned
Irrelevant
pengendali. Enterprise under the Ministry
Annual Report of the of Finance, in which 100% of its
Public Company discloses shareholders is the Government
the end beneficiaries in of the Republic of Indonesia,
the share ownership of represented by Ministry of Finance.
the Public Company is at
least 5% (five percent), in
addition to disclosure of
the end beneficiaries in
the share ownership of the
Public Company through
primary and controlling
shareholders.
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
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PELAPORAN TATA KELOLA USAHA SYARIAH
SHARIA BUSINESS CORPORATE GOVERNANCE REPORT
Pertumbuhan ekonomi syariah secara global dan nasional The growth of the sharia economy at both the global and
membuka peluang signifikan bagi pengembangan national levels opens significant opportunities for the
pembiayaan korporasi dan infrastruktur berskala besar. development of large-scale corporate and infrastructure
Perseroan merespons peluang ini dengan memperkuat financing. The Company responds to this opportunity
strategi usaha syariah melalui kemitraan strategis dan by strengthening its sharia business strategy through
optimalisasi skema pembiayaan. strategic partnerships and the optimization of financing
schemes.
Perseroan juga menekankan tata kelola usaha syariah The Company also emphasizes strong sharia business
yang kuat, memastikan kepatuhan terhadap prinsip governance, ensuring compliance with sharia principles
syariah dan regulasi, sekaligus mendukung pencapaian and regulations, while supporting the achievement of
target bisnis melalui Divisi Usaha Syariah (DUS) PT business targets through the Sharia Business Division
SMI. Kinerja DUS menunjukkan tren positif, didorong of PT SMI. The performance of Sharia Business Division
kemampuan adaptasi tim dalam menghadapi has shown a positive trend, driven by the team’s ability
perubahan, termasuk tantangan selama pandemi, to adapt to changes, including challenges during the
yang memperkuat posisi Perseroan sebagai pemimpin pandemic, which has strengthened the Company’s
pembiayaan infrastruktur syariah. position as a leader in sharia infrastructure financing.
Insan Syariah Perseroan terus berkomitmen The Company’s Sharia personnel remain committed to
mencapai target pemegang saham dengan menjaga achieving shareholder targets by maintaining a balance
keseimbangan antara kepatuhan prinsip syariah dan between compliance with sharia principles and business
efektivitas bisnis, mendukung pertumbuhan yang effectiveness, supporting sustainable growth and
berkelanjutan dan reputasi unggul Perseroan di industri. strengthening the Company’s reputation in the industry.
DASAR PELAKSANAAN TATA BASIS OF IMPLEMENTATION OF SHARIA
KELOLA USAHA SYARIAH BUSINESS CORPORATE GOVERNANCE
Perseroan selalu melaksanakan tata kelola usaha syariah The implementation of sharia business governance in
sesuai dengan peraturan dan ketentuan yang berlaku, the Company always refers to the prevailing rules and
antara lain: regulations, such as:
1. Peraturan Otoritas Jasa Keuangan Nomor 16 1. Regulation of the Financial Services Authority No. 46/
Tahun 2024 tentang Pengawasan PT Sarana Multi POJK.05/2020 concerning Infrastructure Financing
Infrastruktur (Persero); Companies;
2. Keputusan Menteri Keuangan Republik Indonesia 2. Decree of the Minister of Finance of the Republic PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
No. 290/KMK.06/2020 tanggal 17 Juni 2020 tentang of Indonesia No. 290/KMK.06/2020 dated June 17,
Pemberhentian dan Pengangkatan Anggota Dewan 2020, concerning the Dismissal and Appointment
Pengawas Syariah Perusahaan Perseroan (Persero) of Members of the Sharia Supervisory Board of the
PT Sarana Multi Infrastruktur; dan Company (Persero) PT Sarana Multi Infrastruktur; and
3. Peraturan Direksi Nomor PD-020/SMI/1223 tanggal 21 3. Regulation of the Board of Directors PD-020/SMI/1223
Desember 2023 tentang Tugas Pokok dan Fungsi Divisi. dated December 21, 2023, concerning Main Duties and
Functions of Divisions.
STRUKTUR ORGANISASI ORGANIZATION STRUCTURE
USAHA SYARIAH OF THE SHARIA BUSINESS
Perseroan menjalankan kegiatan usaha syariah melalui The Company carries out sharia business through Sharia
DUS, yang berada di bawah Direktorat Pembiayaan dan Business Division which is a division under the Directorate
Investasi, dengan pelaksanaan kegiatan diawasi oleh of Financing and Investment whose implementation
Dewan Pengawas Syariah. Struktur organisasi Divisi Usaha is supervised by the Sharia Supervisory Board. The
Syariah Perseroan ditetapkan melalui Peraturan Direksi organizational structure of the Company's Sharia Business
dan dapat digambarkan sebagai berikut: Division is determined based on Regulation of the Board
of Directors, which can be described as follows:
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05 Tata Kelola Perusahaan
Good Corporate Governance
Dewan Pengawas Syariah
Sharia Supervisory Board
Direktur Utama
President Director
Direktur Pembiayaan & Investasi
Director of Financing & Investment
Kepala Divisi Usaha Syariah
Head of Sharia Business Division
Team Leader Team Leader
Staf Staf
Staff Staff
PEDOMAN KERJA USAHA SYARIAH WORK GUIDELINES OF THE
SHARIA BUSINESS
Pedoman Kerja DUS ditetapkan berdasarkan Peraturan Work Guidelines of the Sharia Business Division are
Direksi No. PD-035/SMI/0922 tanggal 26 September 2022, stipulated in Regulation of the Board of Directors No. PD-
yang mengatur Tugas Pokok dan Fungsi Divisi. Pedoman 035/SMI/0922 dated September 16, 2022, concerning
ini mencakup pelaksanaan tugas dan tanggung jawab the Main Duties and Functions of the Division. These
Direksi serta pejabat Usaha Syariah, pengembangan guidelines regulate the implementation of the duties
produk, penghimpunan dana, penyaluran pembiayaan, and responsibilities of the Board of Directors and Sharia
pelaksanaan rapat, struktur usaha syariah, dan Business officials, product development, raising funds and
penyampaian laporan kinerja. disbursing financing, holding meetings, sharia business
structure, and submitting performance reports.
Informasi Singkat Dewan Pengawas Brief Information on the Sharia Supervisory
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
Syariah, termasuk Pelaksanaan Rapat Board, including the Implementation of
dan Fungsi Pengawasan di Tahun 2025 Meetings and Supervisory Functions in
2025
Dewan Pengawas Syariah adalah organ Perseroan The Sharia Supervisory Board is an organ of the Company
yang bertugas mengawasi seluruh kegiatan usaha whose function is to supervise the sharia business
syariah yang dijalankan oleh DUS. Pembentukan Dewan conducted by Sharia Business Division. The Sharia
Pengawas Syariah dan penunjukan seluruh anggotanya Supervisory Board is established, and all its members are
dilakukan berdasarkan rekomendasi Dewan Syariah appointed through the recommendation of the National
Nasional – Majelis Ulama Indonesia (DSN-MUI) atas Sharia Board - Indonesian Council of Ulama (DSN-MUI)
pengajuan Perseroan, serta harus mendapat persetujuan upon the Company's proposal and must be approved
dari pemegang saham. Informasi lengkap mengenai by the shareholders. Detailed information on the Sharia
Dewan Pengawas Syariah tersedia pada bagian Dewan Supervisory Board can be found in the Sharia Supervisory
Pengawas Syariah di Bab Tata Kelola Perusahaan yang Board section in the Good Corporate Governance Chapter
Baik dalam Laporan Tahunan ini. of this Annual Report.
Sesuai Pasal 16D ayat (3) Anggaran Dasar PT SMI, Dewan According to Article 16D paragraph (3) of PT SMI's Articles
Pengawas Syariah wajib menyelenggarakan rapat of Association, the Sharia Supervisory Board is required to
secara berkala, minimal 1 (satu) kali setiap bulan. Detail hold regular Sharia Supervisory Board Meetings at least
754
Page 485
pelaksanaan rapat dapat ditemukan pada bagian Dewan once a month. Information regarding the implementation
Pengawas Syariah di Bab Tata Kelola Perusahaan yang of the Sharia Supervisory Board meetings can be found
Baik dalam Laporan Tahunan ini. in the Sharia Supervisory Board section in the Good
Corporate Governance Chapter of this Annual Report.
Penilaian Tata Kelola Usaha Syariah Assessment of Sharia Business Governance
Dewan Pengawas Syariah, sebagai pihak yang As the organ responsible for ensuring that the sharia
bertanggung jawab memastikan kelancaran operasional business is running well, the Sharia Supervisory Board
usaha syariah, mengapresiasi manajemen atas arahan extends its appreciation to the entire management
yang jelas dan konstruktif dalam pengembangan team for providing clear and constructive direction for
kegiatan usaha syariah Perseroan, baik saat ini the development of the Company's sharia business
maupun untuk masa mendatang. Sejalan dengan activities, both now and in the future. In line with efforts
upaya penyempurnaan penerapan GCG pada usaha to enhance the implementation of GCG in sharia business
syariah, Dewan Pengawas Syariah juga menyampaikan activities, the Sharia Supervisory Board also provided
catatan untuk evaluasi dan peningkatan kepatuhan notes for evaluation and improvement of compliance and
serta implementasi GCG berbasis prinsip-prinsip syariah, the implementation of GCG based on sharia principles,
antara lain: including the following:
1. Memberikan arahan/masukan kepada Divisi Usaha 1. Providing direction/input to the Sharia Business
Syariah (DUS) PT SMI dalam forum Rapat Konsultasi Division of PT SMI during the Sharia Supervisory
DPS atas pengajuan fasilitas pembiayaan calon Board Consultation Meeting regarding financing
nasabah dan/atau nasabah eksisting berkaitan facility proposals for prospective and/or existing
dengan pengajuan lanjutan atas fasilitas yang customers related to follow-up proposals for their
dimilikinya saat ini terutama atas aspek kepatuhan current facilities, especially on sharia compliance
syariah. aspects.
2. Memberikan arahan/masukan kepada manajemen/ 2. Providing direction/input to the management/
Direksi dan Dewan Komisaris dalam Rapat Konsultasi Board of Directors and Board of Commissioners
Gabungan Dekom DPS Direksi atas rencana during the Joint Consultation Meeting of the Board
pembiayaan calon nasabah dan/atau nasabah of Commissioners, Sharia Supervisory Board, and
eksisting berkaitan dengan pengajuan lanjutan atas Board of Directors regarding the financing plan of
fasilitas yang dimilikinya saat ini. prospective and/or existing customers related to the
follow-up proposals for their current facilities.
3. Memberikan arahan/masukan kepada manajemen/ 3. Providing direction/input to the management/Board of
Direksi dalam Rapat Konsultasi Gabungan DPS Direksi Directors during the Joint Consultation Meeting of the
berkaitan dengan pengelolaan usaha syariah Sharia Supervisory Board and the Board of Directors
Perseroan terutama terhadap aspek Kepatuhan related to the management of the Company's sharia
syariah. business, especially on sharia compliance aspects.
4. Melakukan pengawasan/pemeriksaan syariah secara 4. Conducting periodic annual sharia supervision/audits
periodik setiap tahun atas kinerja usaha syariah of the Company's sharia business performance for
Perseroan tahun sebelumnya. the previous year.
PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
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06 Tanggung Jawab Sosial dan Lingkungan Perusahaan Corporate Social Responsibility
Page 487
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06 Tanggung Jawab Sosial dan Lingkungan Perusahaan
Corporate Social and Environmental Responsibility
TATA KELOLA TANGGUNG JAWAB
SOSIAL DAN LINGKUNGAN
CORPORATE SOCIAL RESPONSIBILITY GOVERNANCE
KOMITMEN ATAS PELAKSANAAN COMMITMENT TO IMPLEMENTING
PROGRAM TANGGUNG JAWAB CORPORATE SOCIAL
SOSIAL DAN LINGKUNGAN RESPONSIBILITY PROGRAM
PT SMI memandang bahwa perannya sebagai motor PT SMI recognizes that its aspiration to serve as a driving
penggerak pembangunan berkelanjutan hanya dapat force for sustainable development can only be realized
terwujud apabila memberikan dampak positif yang if its presence delivers the real positive impact on
nyata bagi masyarakat, lingkungan, dan pemangku communities, the environment, and all stakeholders.
kepentingan. Dengan landasan tersebut, Perseroan Based on this foundation, the Company consistently
secara konsisten mengimplementasikan berbagai inisiatif implements various Corporate Social Responsibility (CSR)
Tanggung Jawab Sosial dan Lingkungan (TJSL) sebagai initiatives as a tangible manifestation of its commitment
wujud nyata komitmen terhadap pembangunan yang toward sustainable and inclusive development.
berkelanjutan dan inklusif.
Program TJSL dijalankan sebagai bagian dari kontribusi CSR programs are carried out as part of the Company’s
aktif Perseroan dalam meningkatkan kesejahteraan active contribution to improving community economic
ekonomi masyarakat, sekaligus mendukung realisasi welfare conditions, while also supporting the achievement
Sustainable Development Goals (SDGs). Melalui rangkaian of the Sustainable Development Goals (SDGs). Through
inisiatif ini, PT SMI memastikan proses pembangunan this series of initiatives, PT SMI seeks to ensure that the
berlangsung seimbang antara aspek ekonomi, sosial, development process is balanced across economic,
dan lingkungan. Pendekatan tersebut diharapkan dapat social, and environmental aspects. This approach
memperkuat fondasi pembangunan berkelanjutan, is expected to strengthen the basis of sustainable
menciptakan nilai jangka panjang, serta memberikan development, create long-term value, and deliver benefits
manfaat yang melampaui kepentingan bisnis Perseroan. that extend beyond the Company’s business interests,
providing broad impacts for society and the environment.
Sebagai Special Mission Vehicle (SMV) di bawah As a Special Mission Vehicle (SMV) under the coordination
koordinasi Kementerian Keuangan, PT SMI menegaskan of the Ministry of Finance of the Republic of Indonesia, PT
komitmennya untuk berperan aktif dalam pencapaian SMI reaffirms its commitment to playing an active role in
SDGs. Mandat Pemerintah menempatkan Perseroan achieving SDGs. The mandate granted by the Government
sebagai katalis strategis dalam pengembangan positions the Company as a strategic catalyst in the
skema pembiayaan inovatif untuk memastikan alokasi development of innovative financing schemes that ensure
PT Sarana Multi Infrastruktur (Persero) · Laporan Tahunan 2025
dana menghasilkan nilai optimal dan mempercepat each allocation of funds generates optimal value, while
pembangunan nasional. accelerating national development.
Program TJSL PT SMI dilaksanakan dalam beberapa The CSR programs of PT SMI are implemented in the
bentuk sebagai berikut: following forms:
1. Program Pembiayaan Usaha Mikro dan Kecil (PUMK) 1. Micro and Small Enterprise Funding (MSE Funding)
Program
Program PUMK berupa program bantuan permodalan MSE Funding program is designed to provide capital
dan pembinaan bagi Mitra Binaan yang terdiri dari assistance and coaching programs for Fostered
pelaku usaha mikro dan usaha kecil, yang dilakukan Partners consisting of micro and small enterprises
dalam bentuk: that includes:
a. Pemberian modal kerja dalam bentuk pembiayaan a. Providing working capital through financing and/
dan/atau pembiayaan syariah. or sharia financing.
b. Pembiayaan tambahan dalam bentuk b. Additional financing through financing and/or
pembiayaan dan/atau pembiayaan syariah sharia financing to meet short-term needs.
untuk membiayai kebutuhan yang bersifat jangka
pendek.
c. Pembinaan merupakan kegiatan bimbingan c. Capacity building activities as guidance and/or
dan/atau penguatan (pendidikan, pelatihan, strengthening assistance (education, training,
758 pemagangan, pemasaran, dan promosi) untuk apprenticeship, marketing, promotion) to help
Page 489
meningkatkan kapasitas Mitra Binaan menjadi grow and improve the Fostered Partners’ abilities
usaha yang tangguh dan mandiri. Program ini to become resilient and independent businesses.
juga mencakup upaya peningkatan produktivitas The program also covers other aspects related to
serta kajian atau penelitian terkait program PUMK. increasing the productivity of the Fostered Partners,
as well as studies/research associated with the
MSE Funding program.
PT SMI menuangkan tujuan Perusahaan dalam PT SMI outlines its corporate objectives through
visi dan misi yang tercantum di Buku RKAP 2025, the Company’s vision and mission as stated
diantaranya PT SMI bertekad untuk menjadi in the Company’s 2025 Work Plan and Budget.
pendorong perubahan yang berkontribusi pada Among these, PT SMI is committed to becoming a
peningkatan kualitas hidup masyarakat secara driver of change that contributes to improving the
menyeluruh, mendukung transformasi positif overall quality of life of the community, supporting
dalam berbagai sektor, baik di sektor infrastruktur positive transformation across various sectors,
maupun luar infrastruktur yang berpotensi untuk both in infrastructure and non-infrastructure
dikembangkan dan memberikan hasil yang positif, sectors with development potential and positive
serta mengakselerasi pembangunan infrastruktur outcomes, as well as accelerating infrastructure
yang diperlukan untuk pertumbuhan ekonomi dan development necessary for economic growth
peningkatan kualitas hidup masyarakat. Seluruh and the improvement of people’s quality of life.
poin dalam visi dan misi Perusahaan ini kemudian All elements of the Company’s vision and mission
dituangkan dalam tujuan Program TJSL terkait are subsequently translated into the objectives
dukungan terhadap pembangunan infrastruktur of the CSR Program, particularly in supporting
berkelanjutan, transisi energi, dan pemberdayaan sustainable infrastructure development, energy
masyarakat. transition, and community empowerment.
2. Program Bantuan TJSL 2. CSR Assistance Programs
Program Bantuan TJSL dilakukan untuk meningkatkan CSR Assistance Programs are implemented to improve
kualitas kehidupan dan lingkungan yang bermanfaat quality of life and environmental conditions provides
bagi komunitas setempat dan masyarakat. Bentuk benefits to local communities The forms of assistance
bantuan yang diberikan berupa: provided include:
a. Penanganan korban bencana alam dan bencana a. Natural and Non-Natural Disaster Response in
non-alam berupa kegiatan penanganan bencana the form of disaster response activities, including
termasuk yang disebabkan oleh wabah penyakit, those caused by disease outbreaks, with scopes
dengan ruang lingkup antara lain: that include, among others:
i) Bantuan bahan-bahan obat-obatan dan/ i) Assistance in the form of medicines and/or
atau bantuan medis, bahan pokok, air bersih, medical support, basic necessities, clean water,
sarana sanitasi dan lainnya. sanitation facilities, and others.
ii) Bantuan peralatan/fasilitas penunjang ii) Assistance with equipment/facilities to support
penanganan korban bencana, antara lain disaster victim response, such as rubber boats,
seperti perahu karet, tenda pengungsi/tempat provision of tents/temporary shelters and
penampungan sementara dan lainnya. others.
iii) Kegiatan penanganan pasca bencana, iii) Post-disaster response activities, such as the PT Sarana Multi Infrastruktur (Persero) · Annual Report 2025
seperti pembangunan sarana pendidikan, construction of educational facilities, sanitation
infrastruktur sanitasi, infrastruktur penunjang infrastructure, disaster recovery support
pemulihan bencana, penanganan trauma, infrastructure, trauma handling, as well as
serta pendidikan dan/atau pelatihan untuk education and/or training for disaster victims.
korban bencana.
b. Pendidikan/Pelatihan berupa: b. Education/Training in the form of:
i) Bantuan penunjang pelaksanaan kegiatan i) Support for the implementation of educational
pendidikan, seperti peralatan sekolah, activities, such as school equipment, laboratory
peralatan laboratorium, peralatan/sarana equipment, sports equipment/facilities, and
olah raga, dan peralatan untuk praktik belajar. equipment for practical learning.
ii) Bantuan biaya pendidikan atau beasiswa ii) Educational cost assistance/scholarships for
bagi individu berpotensi dan berprestasi yang individuals with potential and achievements
terkendala secara finansial untuk melanjutkan who lack the financial means to continue their
pendidikan. education.
iii) Bantuan pembangunan dan/atau rehabilitasi iii) Assistance for the construction and/or
sarana pendidikan, seperti ruang kelas, ruang rehabilitation of educational facilities, such
olah raga, ruang laboratorium, dan ruang as classrooms, sports rooms, laboratories, and
praktik belajar. practical learning rooms.
iv) Kegiatan pelatihan dan peningkatan kapasitas iv) Training and capacity-building activities for 759
bagi masyarakat. communities.
Names mentioned 180 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT SMI
p.1 ×116
unresolved
org
Bank Financial Institutions
p.1
unresolved
org
Minister of Finance
p.3 ×17
unresolved
org
PT SMI Pemerintah
p.3
unresolved
org
Bank Financial Undang-Undang Hubungan Keuangan
p.5
unresolved
org
Milik Daerah
p.5
unresolved
org
PT SMI’s Advisory Services
p.6
unresolved
org
PT Pelindo Terminal
p.7
unresolved
org
PT Pelindo IPC
p.7
unresolved
org
PT VKTR Teknologi
p.7
unresolved
org
On Progress Mobilitas Tbk
p.7
unresolved
org
PT NTBE Proyek IPP PLTS Tembesi PLTS Tembesi
p.8
unresolved
org
PT NTBE
p.8
unresolved
org
PT Jasamarga Akses
p.8
unresolved
org
PT Kereta Api
p.8
unresolved
org
PT KAI
p.8 ×2
unresolved
org
PT KAI Coordinating Banks
p.8
unresolved
org
PT HPSL
p.8 ×2
unresolved
org
PT Hutama Panorama
p.8
unresolved
org
PT Pilar Bahtera Energi
p.9 ×2
unresolved
org
PT Pilar Bahtera
p.9
unresolved
org
PT OKI Pulp
p.9 ×2
unresolved
org
PT Pulp
p.9
unresolved
org
PT OKI
p.9
unresolved
org
PT Sejahteraraya
p.9 ×2
unresolved
org
Done Anugrahjaya Tbk
p.9
unresolved
org
PT Sejahteraraya Anugrahjaya Pembiayaan Sindikasi
p.9
unresolved
org
PT NAP Info Lintas Nusa
p.9 ×2
unresolved
org
PT NAP Info Lintas
p.9
unresolved
org
Milik Negara
p.10 ×2
unresolved
org
Kota Nusantara
p.11
unresolved
org
Ministry of Keuangan
p.12 ×2
unresolved
org
Kementerian Keuangan.
p.12 ×7
unresolved
org
Ministry of Finance.
p.12 ×8
unresolved
org
PT SMI’s
p.13 ×8
unresolved
org
Ministry of Finance. Kementerian Keuangan. Hingga
p.14
unresolved
org
PT SMI Infrastructure Asia
p.16
unresolved
org
Kementerian Koordinator Bidang
p.16
unresolved
org
Pemerintah Provinsi DKI
p.17
unresolved
org
Kementerian Pekerjaan Umum
p.17
unresolved
org
PT PLN
p.17 ×2
unresolved
org
Bank Indonesia
p.17 ×2
unresolved
org
Otorita
p.17
unresolved
org
PT Penjaminan Infrastruktur Indonesia (Persero)
p.17
unresolved
org
Mawar & Rekan
p.18 ×2
unresolved
org
PT Sarana
p.18
unresolved
org
PT SMI’s Prepaid Expenses
p.22
unresolved
org
PT SMI’s Other Assets
p.23
unresolved
org
Government of the Republic of Indonesia
p.25
unresolved
org
PT CCT
p.29 ×11
unresolved
org
PT SMI’s Net Income
p.31
unresolved
org
PT SMI’s Cash
p.32
unresolved
org
PT CCT. Arus Kas Digunakan
p.32
unresolved
org
PT CCT. Arus Kas Diperoleh
p.33
unresolved
—
Tujuan Ikatan
· Nama Pihak
p.42 ×3
unresolved
—
(Vendor) Pelaksana
p.42 ×3
unresolved
—
Denomination
p.42
unresolved
org
PT BERCA HARDAYAPERKASA
p.42 ×2
unresolved
org
PT DEWAWEB
p.42
unresolved
org
PT DINAMIKA RAYA PRIMA
p.42 ×2
unresolved
org
PT MITRA INTEGRASI INFORMATIKA
p.42 ×2
unresolved
org
PT SOFTWAREONE
p.42
unresolved
org
PT SOFTWAREONE INDONESIA
p.42
unresolved
org
PT BINA MANDIRI Mendukung
p.43
unresolved
org
PT INFOTECH MEDIA NUSANTARA
p.43
unresolved
org
PT JAVAS KARYA TUNGGA Pembelian
p.43
unresolved
org
PT MANDIRI GATRA KENCANA
p.43
unresolved
org
PT NARITA ARTHA MODA
p.43
unresolved
org
PT NETAVIA STARTECH INDONESIA
p.43
unresolved
org
PT NOVUS PRODAMAX SOLUTIONS
p.43 ×2
unresolved
org
PT PADIUMKM Purchase
p.43
unresolved
org
PT PRIMA TEKNO INTEGRA
p.43 ×3
unresolved
org
PT REGON MAKMUR SEJAHTERA
p.43
unresolved
org
PT RENTASH MANDIRI SEJAHTERA
p.43
unresolved
org
PT VERVETAMA TECHNOLOGY Penataan
p.43
unresolved
—
kenyamanan
p.43
unresolved
—
Reconfiguration
p.43
unresolved
—
Partisi
p.43
unresolved
org
PT MITRA KREASI PROMOSINDO
p.43
unresolved
—
Partition
p.43
unresolved
—
Optimization
p.43
unresolved
org
PT ADI DATA INFORMATIKA
p.43
unresolved
org
PT ADIKARA TECHNO PERKASA
p.43
unresolved
org
PT AZENTRA SOLUSI DIGITAL
p.43
unresolved
org
PT BLOOMBERG FINANCE LP
p.43
unresolved
org
PT BUMI AMARTHA TEKNOLOGI
p.43
unresolved
org
MANDIRI
p.43
unresolved
org
PT CAHAYA SEMESTA CURAHANHATI
p.43
unresolved
org
PT CENTRIA INTEGRITY ADVISORY
p.43
unresolved
org
PT DENTSU SOKEN INDONESIA
p.43
unresolved
org
Software FITCH SOLUTIONS GROUP LIMITED
p.43
unresolved
org
PT GEONET INFOMEDIA
p.43
unresolved
org
PT INDOCYBER GLOBAL TEKNOLOGI
p.43
unresolved
org
PT INDODEV NIAGA INTERNET
p.43
unresolved
org
PT INSPIRO
p.43
unresolved
org
PT JAVAS KARYA TUNGGA
p.43
unresolved
org
PT JUSTIKA SIAR PUBLIKA
p.43
unresolved
org
PT KRAYON KONSULTAN INDO
p.43
unresolved
org
PT NAGITEC
p.44
unresolved
org
PT NEXIA INDONESIA ADVISORY SERVICES
p.44
unresolved
org
PT NUSA SISTEM SOLUSI
p.44
unresolved
org
PT PRASETIA DWIDHARMA TEKNOLOGI
p.44
unresolved
org
PT PRIVY IDENTITAS DIGITAL
p.44
unresolved
—
Software
p.44 ×2
unresolved
org
PT PRODATA SISTEM TEKNOLOGI
p.44
unresolved
org
PT PROTERGO SIBER SEKURITI
p.44
unresolved
org
PT Q2 TECHNOLOGIES
p.44
unresolved
org
PT SHELL INFOTEK
p.44
unresolved
org
PT SHELL INFOTEK INDONESIA
p.44
unresolved
org
PT SIGMA CIPTA CARAKA
p.44
unresolved
org
PT SINERGI INFORMATIKA SEMEN INDONESIA
p.44
unresolved
org
PT SISINDOKOM LINTASBUANA
p.44
unresolved
org
PT SYNERGI INNOVASI RAJAWALI
p.44
unresolved
org
PT TEKNO GEMILANG INDONESIA
p.44
unresolved
org
PT VESPERIA GLOBAL MERDEKA Mendukung
p.44
unresolved
org
PT PLAZA AUTO PRIMA
p.44
unresolved
org
Ministry of Saham.
p.47
unresolved
org
PT Cimanggis Cibitung
p.47 ×2
unresolved
org
PT Cimanggis Cibitung Toll
p.47 ×2
unresolved
org
Financial Services Authority
p.62 ×6
unresolved
org
Government of Republic of Indonesia
p.68
unresolved
org
PT Geo Dipa Energi (Persero)
p.68
unresolved
org
PT Hutama Mambelim Trans Papua
p.68
unresolved
org
PT Hutama Panorama Sitinjau Lauik
p.68
unresolved
org
PT Wijaya Karya Serang Panimbang
p.68
unresolved
org
PT Wika Tirta Jaya Jatiluhur Rumah Sakit Pusat
p.68
unresolved
org
PT Industri Kereta Api (Persero)
p.68
unresolved
org
PT Jalintim Adhi Abipraya Borobudur
p.68
unresolved
org
PT Jasa Sarana
p.68
unresolved
org
PT Jasa Semesta Utama Pengendalian Bersama
p.68
unresolved
org
PT Indonesia Infrastructure Finance Personil Manajemen Kunci
p.68
unresolved
org
PT Trans Jabar Toll KEWAJARAN TRANSAKSI
p.68
unresolved
org
Milik
p.70
unresolved
org
Menteri Keuangan
p.74 ×9
unresolved
org
Bank Astri Gautama
p.86
unresolved
org
Bank Washington DC
p.86
unresolved
org
Bank Singapura
p.86
unresolved
org
PT SMI’s SMI. Adapun
p.86
unresolved
org
PT Sarana Multi Infrastruktur SMI
p.115
unresolved
org
PT Sarana PER-
p.115
unresolved
org
PT SMI Manajemen Anti Penyuapan. Penerapan
p.117
unresolved
org
PT Mutu
p.117
unresolved
org
PT Mutu Agung Lestari.
p.117
unresolved
org
Kementerian Keuangan Republik Indonesia
p.137
unresolved
org
Direktorat Jenderal Kekayaan Negara
p.137
unresolved
org
Kementerian Keuangan Republik Indonesia Director of Separated State Assets
p.137
unresolved
org
Directorate General of State Assets
p.137
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