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DISCLOSURE OF INFORMATION TO SHAREHOLDERS
PT XL AXIATA TBK
This Disclosure of Information is prepared and submitted in order to comply with the Regulation of the
Financial Services Authority of the Republic of Indonesia No. 17/POJK.04/2020 concerning Material
Transactions and Changes in Business Activities.
If you have difficulties in understanding this Disclosure of Information or are in doubt in making decisions,
you should consult a legal consultant, public accountant, investment advisor or other professional advisor.
PT XL Axiata Tbk
Business Activites:
Telecommunication Service Provider
and/or Network Provider and/or
Multimedia
Head Office:
XL Axiata Tower
JL. H.R. Rasuna Said Blok X5
Kav. 11 – 12
Kuningan Timur, Setiabudi
Jakarta Selatan 12950 –
Indonesia
Telepon: (021) 5761881
Faksimili: (021) 5761880
www.xlaxiata.co.id
corpsec@xl.co.id
THE BOARD OF DIRECTORS AND THE BOARD OF COMMISSIONERS OF THE COMPANY, BOTH
INDIVIDUALLY AND JOINLY, ARE FULLY RESPONSIBLE FOR THE ACCURACY AND COMPLETENESS OF THE
INFORMATION OR MATERIAL FACTS AS DISCLOSED IN THIS INFORMATION DISCLOSURE, AND AFTER
CONDUCTING REASONABLE AND CAREFUL RESEARCH, HEREBY DECLARE THAT TO THE BEST OF THE
KNOWLEDGE AND BELIEF OF THE BOARD OF DIRECTORS AND THE BOARD OF COMMISSIONERS OF THE
COMPANY, THE INFORMATION CONTAINED IN THIS INFORMATION DISCLOSURE IS CORRECT AND
THERE ARE NO IMPORTANT FACTS, MATERIAL AND RELEVANT INFORMATION WHICH IF NOT
DISCLOSED OR OMITTED IN THIS INFORMATION DISCLOSURE, CAUSING THE INFORMATION PROVIDED
IN THIS INFORMATION DISCLOSURE TO BE UNTRUE AND/OR MISLEADING.p
This Disclosure of Information is issued on 5 December 2023
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DEFINITIONS
BEI : PT Bursa Efek Indonesia.
Securities Administration Bureau/ Biro: PT Datindo Entrycom as the Company's securities
Administrasi Efek administration bureau appointed by the Company to
carry out the Company's share administration.
DPS : Shareholders Register of the Company issued by the
Securities Administration Bureau.
Disclosure of Information : Disclosure of Information in connection with changes in
Business Activities (as defined below).
KBLI : Indonesia Standard Business Field Classification.
Business Activities : Business activities listed in the Company's Articles of
Association and have been carried out.
KJPP Y&R : Public Appraisal Services Office/ Kantor Jasa Penilai Publik
("KJPP") Yanuar, Rosye & Rekan which has been officially
established based on the Decree of the Minister of
Finance No. S-571/PM.223/2020 dated September 1,
2020 with KJPP License No. 2.09.0041 and has been
registered as a Capital Market Supporting Profession at
OJK with a Registered Certificate of Capital Market
Supporting Profession from Bapepam and LK No.
STTD.PB-38/PM.2/2018 where KJPP Y&R was appointed
by the Company to prepare a Feasibility Study Report
regarding the plan to change the Company's Business
Activities.
KSEI : PT Kustodian Sentral Efek Indonesia
OJK : The Financial Services Authority/ Otoritas Jasa Keuangan,
an independent institution as referred to in Law No. 21 of
2011 concerning the Financial Services Authority, whose
duties and authorities include regulating and supervising
financial services activities in the banking sector, capital
markets, insurance, pension funds, financing institutions
and other financial institutions.
Shareholders : Shareholders of the Company registered in the DPS.
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Company : PT XL Axiata Tbk, a public company established under the
laws of the Republic of Indonesia, domiciled in South
Jakarta and located at Jl. H.R. Rasuna Said X-5 Kav. 11-12,
Kuningan Timur, Setiabudi, South Jakarta 12950.
POJK 15 Financial Services Authority Regulation No.
15/POJK.04/2020 on the Planning and Organization of
General Meeting of Shareholders of Public Companies.
POJK 16 Financial Services Authority Regulation
No.16/POJK.04/2020 on the Implementation of the
Electronic General Meeting of Shareholders of Public
Companies.
POJK 17 : Financial Services Authority Regulation No.
17/POJK.04/2020 concerning Material Transactions and
Changes in Business Activities.
EGMS : Extraordinary General Meeting of Shareholders
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INTRODUCTION
Through this Disclosure of Information, the Company plans to amend its Business Activities in the form
of adding new Business Activities based on the KBLI 2020 as stipulated in the Central Statistics Agency
Regulation No. 2 of 2020 concerning the Indonesian Standard Industrial Classification ("KBLI 2020") as
detailed in the Explanation, Consideration, and Reasons For the Changes of Business Activities section
below (hereinafter the addition of the above Business Activities is referred to as "Change of Business
Activities").
In connection with the plan to Change Business Activities and in accordance with the provisions of
POJK 17, the Company plans to seek Shareholders' approval at the Company's EGMS which is planned
to be held on 11 January 2024. Furthermore, the Company announced the Disclosure of Information
to the Shareholders through the Company's website and IDX website together with the announcement
date of the Company's EGMS. In addition, the Company also provides data regarding Changes in
Business Activities for Shareholders from the time of the announcement of the Company's EGMS and
submits Disclosure of Information and supporting documents to OJK with the provisions as stipulated
in POJK 17.
After obtaining Shareholder approval at the EGMS, the Company will continue the process of obtaining
licenses from relevant agencies in connection with the Addition of Business Activities, including
licenses from the Investment Coordinating Board, Ministry of Industry, Ministry of Trade, Ministry of
Communication and Information, Ministry of Manpower and Ministry of Public Works and Public
Housing.
Until the date of issuance of this Disclosure of Information, there have been no third parties or other
parties who have submitted objections to the Company on the plan to Change of Business Activities.
The Company in this case will always fulfill the applicable laws and regulations in following up on this
matter.
The information as stated in this Disclosure of Information is submitted to the Shareholders so that
the Shareholders can obtain complete information regarding the plan to Change the Company's
Business Activities. This Disclosure of Information is also a basis for consideration for Shareholders to
give their approval related to the plan to Change of Business Activities in the EGMS of the Company.
INFORMATION ABOUT THE COMPANY
Brief History
The Company, previously named PT Excelcomindo Pratama Tbk, was first established under the name
PT Grahametropolitan Lestari. The Company is domiciled in Jakarta and was established in accordance
with the prevailing laws and regulations in the Republic of Indonesia pursuant to Deed of
Establishment of Limited Liability Company No. 55 dated 6 October 1989, as amended by Deed of
Amendment No. 79 dated 17 January 1991. Both were made before Rachmat Santoso, S.H., Notary in
Jakarta. The Deeds were approved by the Minister of Justice of the Republic of Indonesia pursuant to
Ministerial Decree No. C2-515.HT.01.01.TH.91 dated 19 February 1991, registered at the South Jakarta
District Court No. 670/Not/1991/PN.JKT.SEL and No. 671/Not/1991/PN.JKT.SEL, dated 21 August 1991,
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and published in the State Gazette of the Republic of Indonesia No. 90, Supplement No. 4070, dated 8
November 1991.
The Company's Articles of Association have been amended several times. The latest amendment is in
relation to the adjustment of the Company's Articles of Association in the context of the amendment
of Article 4 of the Company's Articles of Association, as contained in the Deed of Meeting Resolution
No. 49 dated 25 January 2023 made before Aulia Taufani, S.H., Notary in Jakarta. This amendment
received Notification of Amendment of Articles of Association from the Minister of Law and Human
Rights of the Republic of Indonesia No. AHU-AH.01.03-0015425 dated 25 January 2023 and Notification
of Amendment of Articles of Association No. AHU-AH.01.09-0116602 dated 05 May 2023 ("Company's
Articles of Association").
The majority shareholder of the Company as of the date of this Disclosure of Information is Axiata
Investments (Indonesia) Sdn. Bhd. which is a wholly owned subsidiary of Axiata Investments (Labuan)
Limited. Axiata Investments (Labuan) Limited is a subsidiary of Axiata Group Berhad.
The Company's head office is located at XL Axiata Tower, Jl. H.R. Rasuna Said X-5 Kav. 11-12, Kuningan
Timur, Setiabudi, South Jakarta 12950, Indonesia.
Purpose and Objectives and Business Activities
In accordance with Article 3 of the Company's Articles of Association, the purposes and objectives of the
Company are to carry out activities in telecommunication operations, computer programming and
consultancy activities, information service activities, wholesale trade, management consultancy
activities, and financial activities.
Capital Structure and Shareholding Structure
The Company's capital structure as of the date of this Disclosure of Information is as follows:
Authorized Capital : Rp2,265,000,000,000,00
Issued and Paid-up Capital : Rp 1,312,843,066,500,00
The Authorized Capital of the Company is divided into 22,650,000,000 (twenty-two billion six hundred
fifty million) shares, each share has a nominal value of Rp100 (one hundred rupiah) per share.
The composition of the Company's share ownership based on DPS as of 30 November 2023 is as
follows:
Total
Shareholders Number of Shares %
(In Million Rupiah)
Axiata Investments (Indonesia) Sdn.
8,697,163,762 869,716 66.25
Bhd.
Public (each below 5%) 4,374,779,103 437,477 33.32
Number of Shares Outstanding 13,071,942,865 1,307,193 99.57
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Total
Shareholders Number of Shares %
(In Million Rupiah)
Treasury Shares 56,487,800 5,649 0.43
Total Number of Issued and Fully
13,128,430,665 1,312,843 100.00
Paid Shares
Composition of the Board of Commissioners and the Board of Directors
The composition of the Company's Board of Commissioners and Board of Directors as of the date of this
Disclosure of Information is as follows:
Board of Commissioners
President Commissioner : Dr. Muhamad Chatib Basri
Commissioner : Vivek Sood
Commissioner : Dr. David Robert Dean1)
Commissioner : Dr. Hans Wijayasuriya
Independent Commissioner : Yasmin Stamboel Wirjawan
Independent Commissioner : Muliadi Rahardja
Independent Commissioner : Julianto Sidarto
Board of Directors
President Director : Dian Siswarini
Director : Feiruz Ikhwan Bin Abdul Malek
Director : Abhijit Jayant Navalekar
Director : Yessie D. Yosetya
Director : David Arcelus Oses
Director : I Gede Darmayusa
1) Dr. David Robert Dean submitted his resignation as Commissioner of the Company on September 25, 2023. The resignation will be processed and
effective by referring to the provisions on the Company's Articles of Association.
SUMMARY OF FEASIBILITY STUDY REPORT
ON THE PLAN TO CHANGE BUSINESS ACTIVITIES
In accordance with the plan to Change of Business Activities, the Company has appointed Yanuar, Rosye
and Partners ("Y&R") Public Appraisal Services Office, with Business License No. 2.20.0170 based on the
Decree of the Minister of Finance 365/KM.1/2020 dated July 27, 2020, registered as a Capital Market
Supporting Profession at OJK with a Registered Certificate (STTD) of Capital Market Supporting
Profession No. STTD.PB-38/PJ-1/PM.02/2023 dated July 24, 2023 as an independent appraiser, and
requested Y&R to provide a feasibility study opinion on the Company's Change of Business Activities.
In preparing this Feasibility Study Report, Y&R acted independently without any conflict of interest and
Y&R is not affiliated with the Company or with parties affiliated with the Company. Y&R also has no
personal interest or benefit related to this assignment.
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The following is a summary of the Feasibility Study Report based on Report No. PR.Y&R-
00/Y/BS/XL/XI/2023/RY/0239 dated 1 December 2023:
Purpose and Objective of Fairness Opinion Report
The purpose of the Feasibility Study Report is to provide an opinion on the feasibility of the Company's
Change of Business Activity plan. The review of the Feasibility Study Report covers various aspects
including macro aspects, market aspects, technical aspects, business pattern aspects, management
model aspects, and financial aspects.
The purpose of preparing this report is to comply with the Regulation of the Financial Services Authority
("OJK") of the Republic of Indonesia No. 17/POJK.04/2020 concerning "Material Transactions and
Changes in Business Activities" ("POJK 17 of 2020"). The regulation requires a Feasibility Study Report
on changes in business activities prepared by an Appraiser. The Appraisal is not used outside the context
or purpose of the Feasibility Study.
Assumptions and Limiting Conditions
Assumptions
Some of the assumptions used in the preparation of this feasibility study are:
• Y&R release a Feasibility Study Report which is a non-disclaimer opinion.
• We have conducted a review of the documents used in the feasibility study process.
• In preparing this report, Y&R relies on the accuracy and completeness of the information provided
by the Company and / or data obtained from publicly available information and other information
that we deem relevant.
• The assignor stated that all material information regarding the feasibility study assignment had
been fully disclosed to Y&R and there was no reduction in important facts.
• Y&R uses adjusted financial projections that reflect the reasonableness of the financial projections
made by management with the ability to achieve them (fiduciary duty).
• Y&R is responsible for the conduct of the Valuation and the reasonableness of the adjusted financial
projections.
• The result report is open to the public unless there is confidential information, which could affect
the Company operations.
• Y&R is responsible for the Feasibility Study Report and the resulting conclusions.
• Y&R has obtained information on the legal status of the object of the Feasibility Study from the
assignor.
• This Feasibility Study Report is intended to fulfill the interests of the Capital Market and compliance
with OJK regulations and not for tax purposes.
• This Feasibility Study is prepared based on market and economic conditions, general business and
financial conditions, as well as Government regulations related to the Change of Business Activity
to be carried out on the date of this opinion.
• In preparing this Feasibility Study, we use several assumptions, such as the fulfillment of all
conditions and obligations of the Company and all parties involved in the feasibility study and the
accuracy of information regarding the feasibility study disclosed by the Company management.
• Y&R assumes that the Company is a company that will continue its business in the future and is
managed by professional and competent management (going concern).
• This Feasibility Study should be viewed as an integral part and the use of part of the analysis and
information without considering other information and analysis as a whole may result in misleading
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views and conclusions on the process underlying the Feasibility Study. The preparation of this
Feasibility Study is a complex process and may not be possible through incomplete analysis.
• We also assume that the issuance of the Feasibility Study does not occur in any changes that will
materially affect the assumptions used in the preparation of this feasibility study. We are not
responsible for reaffirming or completing, updating our opinion due to changes in assumptions and
conditions and events that occur after the date of this letter.
The limitations in carrying out this assignment
• In carrying out the analysis, we assume and rely on the accuracy, reliability and completeness of all
financial information and other information provided to us by the Company or which are publicly
available which are true, complete and not misleading, and we are not responsible for conducting
independent checks of the information. We also rely on guarantees from the Company
management that they do not know the facts that cause the information provided to us to be
incomplete or misleading.
• Feasibility Study analysis of the Change of Business Activity was prepared using data and
information as disclosed above. Any changes to the data and information may materially affect the
final results of our opinion. Therefore, we are not responsible for changes to the conclusions of our
Feasibility Study due to changes in the data and information.
• We do not give an opinion on the tax impact of this Feasibility Study. The services we provide to
the Company in connection with the Change of Business Activity are only the provision of a
Feasibility Study on the object to be carried out and not accounting, auditing, or taxation services.
We did not conduct research on the legality of the legal aspects and the implications of these
aspects of taxation.
• Our assignment regarding this Feasibility Study does not constitute and cannot be construed in any
form, a review or audit or the performance of certain procedures on financial information. The
assignment also cannot be intended to reveal weaknesses in internal control, errors, or
irregularities in financial statements or violations of law. In addition, we do not have the authority
and are not in a position to obtain and analyze any form of transactions other than existing
corporate action and may be available to the Company and the effect of these transactions on this
corporate action.
Feasibility Study Methods
The methods used in preparing this feasibility study report are:
• Primary data collection from the Company related to the project development plan which includes
data on identity, licensing, business plans and other data related to plans for Changes of Business
Activities.
• Macroeconomic analysis, industry analysis to evaluate the influence of these factors on future the
Company performance.
• In carrying out this assignment, an analysis was conducted on the feasibility of the Company's
Change of Business Activities. The analysis was conducted using Net Present Value (NPV),
Profitability Index (PI), Break Even Point (BEP) and Return on Investment (ROI) indicators.
Market Feasibility Analysis
In conducting its business, the Company has a list of potential and target markets for the Change of
Business Activities of 10 projects, divided into 7 potential markets under the Business Solutions Division
and 3 potential markets under the Home Division. Currently, the market opportunity for the Change of
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Business Activity is still wide open, considering that the Company is a company engaged in
telecommunications services and information technology. The magnitude of the market opportunity can
be shown by the existence of several potential markets that have become the Company's target in 2024.
Technical Feasibility Analysis
The Change of Business Activities of the Company includes new KBLI that aims to accommodate new
business opportunities are not related to the previous KBLI, KBLI to fulfill the requirements of more
complex and large Information and Communication Technology (ICT) tender , and KBLI as a result of the
planned changes in Government Regulations with a total of 26 KBLI.
Business Pattern Feasibility Analysis
Through the Business Solutions Division, the Company has a competitive advantage in the form of
applying various price offers to customers, has 6 ISOs that support the services provided (ISO 9001: 2015:
related to Quality Management System, ISO 20000-1: 2018: related to IT Service Management System,
ISO 22301: 2019: related to Business Continuity Management System, ISO 14001: 2015: related to
Environmental Management System, ISO 45001: 2018: related to Occupational Health and Safety
Management System, ISO 27001:2022: related to Information Security Management System), is able to
develop services on a larger and more expansive scale in the future, always conducts continuous
development both in terms of products and services so as to be able to provide visionary
products/services in accordance with customer needs and technological changes, provides adequate
service through integrated services and is able to provide products/services that can be customized
according to customer needs.
Meanwhile, through the Home Division, the Company has a competitive advantage in the form of the
internet solutions to fulfill the needs/lifestyle of families inside and outside home, digital customer
experience via MyXL and attractive price offering scheme with prices adjusted by region.
There are opportunities for competitors to enter the telecommunications business and the
products/services provided by the Company may be copied by competitors. However, considering that
the Company is a telecommunications company that has been carrying out similar business activities,
the Change of Business Activities will make it easier for the Company to compete in the market. This is
because the Company already has capital in the form of knowledge, experience and telecommunications
and IT infrastructure that support the company's business. Through the Company's foresight in
recognizing Fixed Mobile Convergence ("FMC") as a potential new opportunity, the Company became
the first mobile operator to offer convergence. The Company also continues to improve the quality the
Company service and customer experience by adding quality content that can be accessed by customers
in addition to the IT and digitalization field the Company focuses on building capabilities so that it is
expected that in carrying out the new KBLI, the Company will be able to create values as it has done
before.
Management Model Feasibility Analysis
Changes in Business Activities to be carried out are business activities, some of which have been
undertaken and have the same scope of work related to Fixed Connectivity, IoT, Managed ICT and Big
Data. Therefore, the selected management, employees and experts are existing human resources with
qualified capabilities. Experts are selected with the criteria of having relevant experience and
certifications, especially related to projects that require special expertise such as IoT, ICT and Big Data
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starting from Project Managers, Experts with CISCO Certification namely CCIE Enterprise Infrastructure,
CCIE Service Provider, CCNP Enterprise, CCNA Routing and Switching, Network Associate 640-802.
Microsoft certificates related to Azure Fundamentals, Azure AI Engineer Associate, Azure Solution
Architect Expert, Azure Data Scientist Associate, Solution Developers and Microsoft 365 Fundamentals.
Solance certificates are Event Driven Architecture Practitioner and Solution Consultant. AWS certificate
is Cloud Practitioner, Google Cloud certificate is Cloud Digital Leader, Kubernetes Application Developer
certificate and Kubernetes Administrator certificate.
Project Feasibility Analysis
Based on the analysis of the Company's business feasibility based on financial projections in accordance
with the Transaction Plan in the form of Changes of Business Activities. Investment feasibility is reviewed
from various feasibility indicators such as Net Present Value (NPV), Profitability Index (PI), Break Even
Point (BEP) and Return on Investment (ROI) with the following summary:
NPV : Rp2,159,486 Million
PI : 204.40%
BEP : Rp2,197,697 Million (54.12% to Sales)
ROI : 43.50% (Average)
Conclusion of Feasibility Study
Based on the study, evaluation aspect of market, technical, business pattern, feasibility of management
model and financial analysis and other projections provided that the predetermined assumptions are
met, it can be concluded that the purpose to Change of Business Activities to be carried out by the
Company are feasible.
AVAILABILITY OF EXPERT PERSONNEL IN RELATION TO THE PLAN
CHANGES IN MAIN BUSINESS ACTIVITIES
In connection with the plan to Change of Business Activities, the Company has prepared the manpower
needed to support the operational implementation of the additional business activities. The Company is
committed to fulfill the needs of competent manpower in their fields related to the new business
activities. The Company has the availability of experts related to changes in business activities through
the Home Division and Business Solutions Divisions units. The aforementioned experts currently owned
by the Company, among others, are in the following work units as follows:
1. Home Division (help handle resale services for telecommunications services, Internet Protocol
Television (IPTV) services, and other information service activities not otherwise classified)
a. 1 (one) Head in charge of Home Product
b. 1 (one) person Strategic Initiatives & Assurance
c. 2 (two) people Home Device Management & Partnership
d. 1 (one) person Home Product Online Acquisition
e. 1 (one) person Home Product Base Management
f. 1 (one) person Service Partnership
2. Business Solutions Divisions (help handle new business activity services and ICT (Information and
Communication of Technology) service development activities)
a. 1 (one) person Service Assurance and Process Management
b. 6 (six) people Network and Planning Design
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c. 2 (two) people Mobile Product
d. 2 (two) people Mobile Advertising
e. 2 (two) people Enterprise Technical Operation
f. 3 (three) people Data Science
g. 1 (one) person IoT Product
h. 1 (one) person Big Data Product
i. 2 (two) person Artificial Intelligence
j. 2 (two) people Fixed Connectivity Product
k. 3 (three) people Solution Architect
l. 1 (one) person Business Intelligence
m. 2 (two) people Facility Management
The composition of expert personnel and work units currently owned by the Company in connection
with the Change in Business Activities as mentioned above may change over time in accordance with the
needs and strategies of the Company.
EXPLANATION, CONSIDERATION AND REASONS
FOR THE CHANGES OF BUSINESS ACTIVITIES
In order to improve the Company's performance, the Company as a company operating in the field of
providing telecommunications services and/or telecommunications networks and/or multimedia and/or
Information and Communication of Technology (ICT), sees the increasingly rapid need for fast internet
which will encourage the increasing need for technology for Housing communities and will drive the
increasing need for high technology for corporate and government customers, which focuses on
accelerating digital transformation, cost efficiency and increasing productivity. With this additional
business activity, the Company can also run its business with a wider business scope so that it can
increase the optimization of the Company's income.
In the Change of Business Activities plan, the Company categorizes its business services into several
types, with details as follows:
No. KBLI 2020 Scope services
1. 61994 Telecommunication Resale Services Internet Service, Internet
Protokol Television (IPTV)
Service, and Content
Subscription Services
2. 61923 Internet Protocol Television (IPTV) Services Set Top Box (STB) and IPTV
Services
3. 63990 Other Information Services Activities NOC (Not OtherwiseContent Subscription
Classified) Services
4. 62015 Artificial Intelligence Based Programming Activities Artificial Intelligence
Digital Technology
Solutions
5. 62013 Programming and Production Activities of Immersive Media Virtual Reality and
Content Augmented Reality Digital
Technology Solutions
6. 62014 Blockchain Technology Development Activities Blockchain Digital
Technology Solutions
7. 61300 Satellite Telecommunication Activities Satellite Technology
Solutions
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8. 82200 Call Center Activities Technology Solutions and
Call Center Services
(include mobile
advertising and VoIP
services)
9. 62022 Digital Identity Provision Activities Telecommunications
Digital Identity Technology
Solutions and e-KYC
10. 62023 Activities for Providing Electronic Certificates and Services Digital Electronic
Using Electronic Certificates Certificate Solutions
11. 62090 Other Information Technology and Computer Services Integration ICT Solutions
Activities
12. 46599 Wholesale Trade of Machine, Equipment, and Other Supplies Automation Machinery
and Robot Hardware
Solutions
13. 46521 Wholesale Trade of Electronic Parts Electronics Hardware
Solutions and Internet of
Things Micro Chip
Technology
14. 43212 Telecommunication Installation Telecommunication
Installation services
15. 42206 Telecommunication Central Construction Professional
Telecommunication
Central Building
Construction Services
16. 61919 Other telephony value-added services Telecommunication
Support Services
17. 61999 Other Telecommunications Activities YTDL Telecommunication
Support Services
18. 61993 Special Telecommunication Activities for Defense and ICT Service Solutions for
Security Purposes Defense and Security
Needs
19. 61992 Special Telecommunication Activities for Own Use Telecommunication
Support Services
20. 43215 Railway Signal and Telecommunications Installation Signal and
Telecommunications
Services Installation for
Railways
21. 77322 Rental and Leasing Activities without Option Rights of Digital Digital Technology
Technology Assistive Devices Support Solutions
22. 78200 Fixed-term Labor Supply Activity Managed Services
Telecommunication
Services and ICT
23. 78300 Human Resources Provision and Management Human Managed Services
Resources Function Telecommunication
Services and ICT
24. 73100 Advertising Digital advertising
solutions
25. 68111 Owned or Leased Real Estate Data Center and Office
Rental Integration
Solutions
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26. 43120 Land Preparation Data Center and Office
Rental Integration Support
Solutions
Through additional business activities as mentioned above, the Company will provide broader services
and products including but not limited to Information and Communication of Technology (ICT) services
for Home and Business Solutions Divisions solutions. The development of these solutions is provided by
the Company in digital platforms, software, hardware, managed services or services that are
consolidated into a single solution that can be utilized for corporate businesses in all industrial sectors
(private and public) and also for the retail Home segment.
Currently, the Company continues to prepare all matters related to the plan to Change of Business
Activities. With the readiness of existing resources, the Company plans to be able to carry out the Change
of Business Activities in stages in line with the process of obtaining licenses from the relevant
Ministries/Agencies. In addition, the Company has also prepared several matters in connection with the
Change of Business Activities, including (i) separate resources, (ii) sources of funds for capital
expenditure (capex) needs in each business field, and (iii) a clear marketing strategy for the intended
plan. The Company targets to carry out the Change of Business Activities in Quartal 1 2024 incrementally
provided that all licenses from the relevant Ministries/Agencies in connection with the Change of
Business Activities have been obtained.
EXPLANATION OF THE EFFECT OF CHANGES OF BUSINESS ACTIVITIES
ON THE COMPANY'S FINANCIAL CONDITION
The Change of Business Activities is expected to have a positive financial impact on the Company. The
revenue generated by the Change of Business Activities in the first year of the projection amounted to
Rp3,237,073 Million and experienced an average growth until 2027 of 13.86% with an average gross
profit margin of 66.56%. The Return on Investment average projection period is 43.50%.
Based on the analysis conducted, the Change of Business Activities is targeted to increase the scale of
the Company's business and be able to make a positive contribution to revenue and net profit in the
future.
INFORMATION ON ORGANIZING EGMS
In accordance with the provisions of POJK 17, the Change of Business Activities as described in this
Disclosure of Information will be requested for approval from the Company’s Shareholders at the EGMS
of the Company, which is planned to be held on Thursday, 11 January 2024. Furthermore, in the EGMS
Agenda related to the Change of Business Activities there will be a discussion regarding the feasibility
study on the Change of Business Activities of the Company as required under POJK 17.
Shareholders who are entitled to attend or be represented at the EGMS are Shareholders whose names
are registered in the DPS on 19 December 2023 until 16.00 WIB and/or holders of the Company's shares
recorded in the securities sub-account of PT Kustodian Sentral Efek Indonesia (KSEI) at the close of stock
trading on the Indonesia Stock Exchange (IDX) on 19 December 2023.
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The following are important dates in relation to the Company's EGMS:
Agenda Date
Announcement of EGMS 5 December 2023
Disclosure of Information on the plan to 5 December 2023
Change of Business Activities
DPS date to determine the Company's 19 December 2023
Shareholders that are entitled to attend
the EGMS (recording date)
Invitation of EGMS 20 December 2023
Organization of EGMS 11 January 2024
Submission of Summary of EGMS At the latest 10 February
Minutes 2024
Announcement, Invitation and Submission of Summary of EGMS Minutes as mentioned above will be
announced by the Company to Shareholders through the IDX website, the Company's website and the
easy.KSEI system.
The Company will seek EGMS approval with due observance of the provisions stipulated in POJK 15 and
POJK 16 to carry out Change of Business Activities as stated in this Disclosure of Information.
ADDITIONAL INFORMATION
For further information regarding the plan to Change of Business Activities as disclosed in this Disclosure
of Information, please contact:
PT XL Axiata Tbk
Head Office:
XL Axiata Tower,
Jl. H.R. Rasuna Said X-5 Kav. 11-12, Kuningan Timur,
Setiabudi, South Jakarta 12950, Indonesia.
Telepon: (021) 576 1881 / 576 1880
Website: www.xlaxiata.co.id/id
Email: CORPSEC@xl.co.id
U.p. Company Secretary
Jakarta, 5 December 2023
Board of Directors of the Company
14
Names mentioned 0 people and organisations named in the text · linked when the evidence is strong
The name pass has not read this document yet.
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
Rule parser
Needs review
confidence 0.091
2887 ms
12 Sep 2026 21:50
Raw output
{'appraiser_exempt': None,
'appraiser_name': '',
'assets': [],
'currency': None,
'fact_type': '',
'issuer_name': '',
'kind': 'MATERIAL_FACT',
'kjpp_name': '',
'letter_number': '',
'object_text': '',
'object_truncated': False,
'parties': [],
'pct_of_equity': None,
'reference_period': '',
'requires_rups': None,
'rups_date': None,
'ticker': '',
'transaction_date': None,
'valuation_date': None,
'value': None}