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20250703_IMFI_Pengumuman Pencatatan Awal Obligasi dan Sukuk_31911397_lamp1.pdf
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JADWAL
Tanggal Efektif : 25 Juni 2025 Tanggal Pengembalian Uang Pemesanan : 3 Juli 2025
Masa Penawaran Umum : 30 Juni 2025 Tanggal Distribusi Obligasi Secara Elektronik (Tanggal Emisi) : 3 Juli 2025
Tanggal Penjatahan : 1 Juli 2025 Tanggal Pencatatan Pada Bursa Efek Indonesia : 4 Juli 2025
OTORITAS JASA KEUANGAN (OJK) TIDAK MEMBERIKAN PERNYATAAN MENYETUJUI ATAU TIDAK MENYETUJUI EFEK INI, TIDAK JUGA MENYATAKAN KEBENARAN ATAU KECUKUPAN
ISI PROSPEKTUS INI. SETIAP PERNYATAAN YANG BERTENTANGAN DENGAN HAL-HAL TERSEBUT ADALAH PERBUATAN MELANGGAR HUKUM.
PROSPEKTUS INI PENTING DAN PERLU MENDAPAT PERHATIAN SEGERA APABILA TERDAPAT KERAGUAN PADA TINDAKAN YANG AKAN DIAMBIL, SEBAIKNYA BERKONSULTASI
DENGAN PIHAK YANG KOMPETEN.
PT INDOMOBIL FINANCE INDONESIA (SELANJUTNYA DALAM PROSPEKTUS INI DISEBUT (“PERSEROAN”) DAN PARA PENJAMIN PELAKSANA EMISI OBLIGASI BERTANGGUNG JAWAB
SEPENUHNYA ATAS KEBENARAN SEMUA INFORMASI, FAKTA, DATA ATAU LAPORAN DAN KEJUJURAN PENDAPAT YANG TERCANTUM DALAM PROSPEKTUS INI.
PT INDOMOBIL FINANCE INDONESIA
Kegiatan Usaha:
Pembiayaan Investasi, Pembiayaan Modal Kerja, Pembiayaan Multiguna, Pembiayaan Sewa Operasi dan Pembiayaan Syariah
Berkedudukan di Jakarta Timur, Indonesia
Kantor Pusat: Kantor Cabang:
Indomobil Tower, Lt. 8 Per Desember 2024, Perseroan memiliki 210 Kantor Cabang, 36 Kantor Selain Kantor Cabang dan
Jl. M.T. Haryono Kav. 11, Jakarta Timur 13330 8 Unit Syariah yang tersebar di wilayah Jabodetabek, Jawa, Bali, Nusa Tenggara,
Telp.: (021) 29185400 Sumatera, Kalimantan, Sulawesi dan Papua.
Email : corporate.secretary@indomobilfinance.com
www.indomobilfinance.com
PENAWARAN UMUM BERKELANJUTAN
OBLIGASI BERKELANJUTAN VI INDOMOBIL FINANCE DENGAN TINGKAT BUNGA TETAP
DENGAN TARGET DANA YANG DIHIMPUN SEBESAR Rp5.000.000.000.000,- (LIMA TRILIUN RUPIAH)
(“PENAWARAN UMUM BERKELANJUTAN VI”)
Dalam rangka Penawaran Umum Berkelanjutan tersebut, Perseroan akan menerbitkan:
OBLIGASI BERKELANJUTAN VI INDOMOBIL FINANCE DENGAN TINGKAT BUNGA TETAP TAHAP I TAHUN 2025
DENGAN JUMLAH POKOK OBLIGASI SEBESAR Rp1.000.000.000.000,- (SATU TRILIUN RUPIAH) (“OBLIGASI”)
Obligasi terdiri dari 3 (tiga) seri, yaitu Obligasi Seri A, Seri B, dan Seri C yang masing-masing ditawarkan sebesar 100% (seratus persen) dari jumlah Pokok Obligasi. Obligasi ini diterbitkan tanpa warkat
kecuali Sertifikat Jumbo Obligasi yang diterbitkan atas nama PT Kustodian Sentral Efek Indonesia (”KSEI”). Obligasi ini memberikan pilihan bagi masyarakat untuk memilih seri Obligasi yang dikehendaki
sebagai berikut:
Seri A : Jumlah Pokok Obligasi Seri A yang ditawarkan adalah Rp520.000.000.000,- (lima ratus dua puluh miliar Rupiah) dengan tingkat bunga tetap Obligasi sebesar 6,45% (enam koma empat lima
persen). Jangka waktu Obligasi Seri A adalah 370 (tiga ratus tujuh puluh) Hari Kalender terhitung sejak Tanggal Emisi. Pembayaran Obligasi dilakukan secara penuh (bullet payment) sebesar
100% (seratus persen) dari Jumlah Pokok Obligasi Seri A pada saat jatuh tempo Obligasi Seri A.
Seri B : Jumlah Pokok Obligasi Seri B yang ditawarkan adalah Rp80.000.000.000,- (delapan puluh miliar Rupiah) dengan tingkat bunga tetap Obligasi sebesar 6,85% (enam koma delapan lima persen).
Jangka waktu Obligasi Seri B adalah 3 (tiga) tahun terhitung sejak Tanggal Emisi. Pembayaran Obligasi dilakukan secara penuh (bullet payment) sebesar 100% (seratus persen) dari Jumlah Pokok
Obligasi Seri B pada saat jatuh tempo Obligasi Seri B.
Seri C : Jumlah Pokok Obligasi Seri C yang ditawarkan adalah Rp400.000.000.000,- (empat ratus miliar Rupiah) dengan tingkat bunga tetap Obligasi sebesar 7,10% (tujuh koma satu nol persen). Jangka
waktu Obligasi Seri C adalah 5 (lima) tahun terhitung sejak Tanggal Emisi. Pembayaran Obligasi dilakukan secara penuh (bullet payment) sebesar 100% (seratus persen) dari Jumlah Pokok
Obligasi Seri C pada saat jatuh tempo Obligasi Seri C.
Obligasi ini ditawarkan dengan nilai 100% (seratus persen) dari jumlah pokok. Bunga Obligasi dibayarkan setiap 3 (tiga) bulan sesuai dengan Tanggal Pembayaran Bunga. Pembayaran Bunga Obligasi
pertama akan dilakukan pada tanggal 3 Oktober 2025, sedangkan Pembayaran Bunga Obligasi terakhir sekaligus jatuh tempo masing-masing Obligasi adalah pada tanggal 13 Juli 2026 untuk Obligasi Seri
A, 3 Juli 2028 untuk Obligasi Seri B, dan 3 Juli 2030 untuk Obligasi Seri C.
OBLIGASI BERKELANJUTAN VI INDOMOBIL FINANCE DENGAN TINGKAT BUNGA TETAP TAHAP II DAN/ATAU TAHAP SELANJUTNYA (JIKA ADA) AKAN DITENTUKAN KEMUDIAN.
PENTING UNTUK DIPERHATIKAN
OBLIGASI INI TIDAK DIJAMIN DENGAN JAMINAN KHUSUS, TETAPI DIJAMIN DENGAN SELURUH HARTA KEKAYAAN PERSEROAN BAIK BARANG BERGERAK MAUPUN BARANG TIDAK
BERGERAK, BAIK YANG TELAH ADA MAUPUN YANG AKAN ADA DI KEMUDIAN HARI SESUAI DENGAN KETENTUAN DALAM PASAL 1131 DAN 1132 KITAB UNDANG-UNDANG HUKUM
PERDATA. HAK PEMEGANG OBLIGASI ADALAH PARI PASSU TANPA HAK PREFEREN DENGAN HAK-HAK KREDITUR PERSEROAN LAINNYA BAIK YANG ADA SEKARANG MAUPUN
DIKEMUDIAN HARI, KECUALI HAK-HAK KREDITUR PERSEROAN YANG DIJAMIN SECARA KHUSUS DENGAN KEKAYAAN PERSEROAN BAIK YANG TELAH ADA MAUPUN YANG AKAN
ADA DI KEMUDIAN HARI.
PEMBELIAN KEMBALI OBLIGASI BARU DAPAT DILAKUKAN 1 (SATU) TAHUN SETELAH TANGGAL PENJATAHAN, PERSEROAN DAPAT MELAKUKAN PEMBELIAN KEMBALI UNTUK
SEBAGIAN ATAU SELURUH OBLIGASI SEBELUM TANGGAL PELUNASAN POKOK OBLIGASI. PERSEROAN MEMPUNYAI HAK UNTUK MEMBERLAKUKAN PEMBELIAN KEMBALI
TERSEBUT UNTUK DIPERGUNAKAN SEBAGAI PELUNASAN OBLIGASI ATAU UNTUK DISIMPAN DENGAN MEMPERHATIKAN KETENTUAN DALAM PERJANJIAN PERWALIAMANATAN DAN
PERATURAN PERUNDANG-UNDANGAN YANG BERLAKU. KETERANGAN MENGENAI PEMBELIAN KEMBALI DAPAT DILIHAT PADA BAB I PERIHAL PENAWARAN UMUM BERKELANJUTAN
DI DALAM PROSPEKTUS INI.
RISIKO UTAMA YANG DIHADAPI PERSEROAN ADALAH RISIKO PEMBIAYAAN, YAITU KETIDAKMAMPUAN NASABAH/DEBITUR UNTUK MEMBAYAR KEMBALI FASILITAS PEMBIAYAAN
YANG DIBERIKAN, DAN APABILA JUMLAHNYA CUKUP MATERIAL DAPAT MEMPENGARUHI KINERJA PERSEROAN. RISIKO YANG MUNGKIN DIHADAPI INVESTOR PEMBELI OBLIGASI
ADALAH TIDAK LIKUIDNYA OBLIGASI YANG DITAWARKAN DALAM PENAWARAN UMUM INI YANG ANTARA LAIN DISEBABKAN KARENA TUJUAN PEMBELIAN OBLIGASI SEBAGAI
INVESTASI JANGKA PANJANG.
PERSEROAN HANYA MENERBITKAN SERTIFIKAT JUMBO OBLIGASI YANG DIDAFTARKAN ATAS NAMA PT KUSTODIAN SENTRAL EFEK INDONESIA (“KSEI”) DAN AKAN DIDISTRIBUSIKAN
DALAM BENTUK ELEKTRONIK YANG DIADMINISTRASIKAN DALAM PENITIPAN KOLEKTIF DI KSEI.
DALAM RANGKA PENERBITAN OBLIGASI INI, PERSEROAN TELAH MEMPEROLEH HASIL PEMERINGKATAN ATAS SURAT HUTANG JANGKA PANJANG DARI
PT PEMERINGKAT EFEK INDONESIA (PEFINDO):
AA-
id
(Double A Minus)
PENCATATAN ATAS OBLIGASI YANG DITAWARKAN INI AKAN DILAKUKAN PADA BURSA EFEK INDONESIA
PENJAMIN PELAKSANA EMISI OBLIGASI
danareksa
sekuritas
PT BRI DANAREKSA PT CIMB NIAGA SEKURITAS PT DBS VICKERS SEKURITAS PT INDO PREMIER SEKURITAS PT MANDIRI SEKURITAS PT RHB SEKURITAS PT TRIMEGAH SEKURITAS
SEKURITAS INDONESIA INDONESIA INDONESIA TBK
PENAWARAN OBLIGASI INI DIJAMIN SECARA KESANGGUPAN PENUH (FULL COMMITMENT)
WALI AMANAT
PT Bank Mega Tbk
Prospektus ini diterbitkan di Jakarta pada tanggal 30 Juni 2025
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PT Indomobil Finance Indonesia (“Perseroan”) telah menyampaikan Pernyataan Pendaftaran Emisi Obligasi sehubungan dengan Penawaran Umum Berkelanjutan Obligasi Berkelanjutan VI Indomobil Finance Dengan Tingkat Bunga Tetap, dengan target dana yang akan dihimpun sebesar Rp5.000.000.000.000, kepada OJK di Jakarta dengan surat No. LGL/040/IMFI/III/2025 tanggal 6 Maret 2025, sesuai dengan ketentuan peraturan perundang-undangan di sektor Pasar Modal, sebagaimana diubah dengan Undang-Undang No. 4 Tahun 2023 tentang Pengembangan dan Penguatan Sektor Keuangan, yang dimuat dalam Lembaran Negara Republik Indonesia No. 4 Tahun 2023, Tambahan No. 6845 dan peraturan pelaksananya serta perubahan-perubahannya (“UUP2SK”). Perseroan akan mencatatkan Obligasi Berkelanjutan VI Indomobil Finance Dengan Tingkat Bunga Tetap Tahap I Tahun 2025, dengan jumlah pokok Obligasi sebesar Rp1.000.000.000.000,- (satu triliun Rupiah) pada Bursa Efek Indonesia (“BEI”) sesuai dengan Surat Persetujuan Prinsip Pencatatan Efek Bersifat Utang No. S-03202/BEI.PP2/04-2025 tanggal 9 April 2025 dari BEI. Apabila Perseroan tidak memenuhi persyaratan pencatatan yang ditetapkan oleh BEI, maka Penawaran Umum Obligasi batal demi hukum dan uang pemesanan yang telah diterima akan dikembalikan kepada para pemesan sesuai ketentuan-ketentuan dalam Perjanjian Penjaminan Emisi Obligasi dan Peraturan No. IX.A.2, Lampiran Keputusan Ketua Bapepam dan LK No. KEP-122/BL/2009 tanggal 29 Mei 2009 tentang Tata Cara Pendaftaran Dalam Rangka Penawaran Umum (“Peraturan No. IX.A.2”). Semua Lembaga dan Profesi Penunjang Pasar Modal dalam rangka Penawaran Umum Obligasi ini bertanggung jawab sepenuhnya atas kebenaran semua data, informasi atau fakta material, serta kejujuran pendapat yang disajikan dalam Prospektus ini sesuai dengan bidang tugasnya masing-masing, berdasarkan ketentuan perundang-undangan yang berlaku di wilayah Republik Indonesia, serta kode etik, norma dan standar profesinya masing-masing. Sehubungan dengan Penawaran Umum ini, semua pihak, termasuk setiap pihak Afiliasi tidak diperkenankan memberikan keterangan atau membuat pernyataan apapun mengenai data atau hal-hal yang tidak diungkapkan dalam Prospektus ini tanpa sebelumnya memperoleh persetujuan tertulis terlebih dahulu dari Perseroan dan para Penjamin Pelaksana Emisi Obligasi. Para Penjamin Pelaksana Emisi Obligasi dan Penjamin Emisi Obligasi serta Lembaga Profesi Penunjang Pasar Modal dalam rangka Penawaran Umum ini bukan merupakan pihak Afiliasi dengan Perseroan baik secara langsung maupun tidak langsung sesuai dengan definisi Afiliasi dalam UUP2SK. Selanjutnya penjelasan mengenai hubungan Afiliasi antara Perseroan dengan para Penjamin Pelaksana Emisi Obligasi dan para Penjamin Emisi Obligasi dapat dilihat pada Bab IX tentang Penjaminan Emisi Obligasi. Sedangkan penjelasan mengenai hubungan Afiliasi antara Perseroan dengan para Lembaga dan Profesi Penunjang Pasar Modal dalam rangka Penawaran Umum Berkelanjutan ini dapat dilihat pada Bab XI tentang Lembaga dan Profesi Penunjang Pasar Modal. PENAWARAN UMUM OBLIGASI INI TIDAK DIDAFTARKAN BERDASARKAN UNDANG-UNDANG ATAU PERATURAN LAIN SELAIN YANG BERLAKU DI NEGARA REPUBLIK INDONESIA. BARANG SIAPA DI LUAR WILAYAH NEGARA REPUBLIK INDONESIA MENERIMA PROSPEKTUS INI, MAKA DOKUMEN TERSEBUT TIDAK DIMAKSUDKAN SEBAGAI PENAWARAN UNTUK MEMBELI OBLIGASI INI, KECUALI BILA PENAWARAN DAN PEMBELIAN OBLIGASI TERSEBUT TIDAK BERTENTANGAN ATAU BUKAN MERUPAKAN PELANGGARAN TERHADAP PERATURAN PERUNDANG- UNDANGAN SERTA KETENTUAN-KETENTUAN BURSA EFEK YANG BERLAKU DI NEGARA ATAU YURIDIKSI DI LUAR INDONESIA TERSEBUT. PERSEROAN TELAH MENGUNGKAPKAN SEMUA INFORMASI YANG WAJIB DIKETAHUI OLEH PUBLIK DAN TIDAK TERDAPAT LAGI INFORMASI ATAU FAKTA MATERIAL YANG BELUM DIUNGKAPKAN SEHINGGA TIDAK MENYESATKAN PUBLIK. PERSEROAN WAJIB MENYAMPAIKAN PERINGKAT TAHUNAN ATAS SETIAP KLASIFIKASI OBLIGASI KEPADA OJK PALING LAMBAT 10 (SEPULUH) HARI KERJA SETELAH BERAKHIRNYA MASA BERLAKU PERINGKAT TERAKHIR SAMPAI DENGAN PERSEROAN TELAH MENYELESAIKAN SELURUH KEWAJIBAN YANG TERKAIT DENGAN EFEK BERSIFAT UTANG YANG DITERBITKAN, SEBAGAIMANA DIATUR DALAM PERATURAN OJK NO. 49/2020. PERSEROAN DENGAN INI MENYATAKAN BAHWA SELURUH INFORMASI ATAU FAKTA MATERIAL TELAH DIUNGKAPKAN DAN INFORMASI ATAU FAKTA MATERIAL TERSEBUT TIDAK MENYESATKAN.
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PT INDOMOBIL FINANCE INDONESIA
DAFTAR ISI
DAFTAR ISI i
DEFINISI DAN SINGKATAN iii
RINGKASAN xii
I. PENAWARAN UMUM BERKELANJUTAN 1
II. RENCANA PENGGUNAAN DANA 17
III. PERNYATAAN UTANG 18
IV. IKHTISAR KEUANGAN PENTING 27
V. ANALISIS DAN PEMBAHASAN OLEH MANAJEMEN 31
VI. FAKTOR RISIKO 45
VII. KEJADIAN PENTING SETELAH TANGGAL LAPORAN AUDITOR INDEPENDEN 48
VIII. KETERANGAN TENTANG PERSEROAN, KEGIATAN USAHA, KECENDERUNGAN 49
DAN PROSPEK USAHA
1. RIWAYAT SINGKAT PERSEROAN 49
2. KEJADIAN PENTING YANG MEMPENGARUHI PERKEMBANGAN USAHA 50
PERSEROAN
3. PERIZINAN 53
4. ASURANSI 54
5. PERJANJIAN KREDIT 55
6. PENGURUSAN DAN PENGAWASAN 88
7. TATA KELOLA PERUSAHAAN 92
8. STRUKTUR ORGANISASI 103
9. SUMBER DAYA MANUSIA 104
10. HUBUNGAN PENGURUSAN DAN PENGAWASAN DALAM PERSEROAN DAN 106
PEMEGANG SAHAM UTAMA
11. DIAGRAM HUBUNGAN KEPEMILIKAN PERSEROAN DENGAN PEMEGANG 106
SAHAM PERSEROAN
12. KETERANGAN TENTANG PEMEGANG SAHAM BERBENTUK BADAN HUKUM 107
13. PERKARA-PERKARA YANG DIHADAPI PERSEROAN DAN YANG 112
BERHUBUNGAN DENGAN PERSEROAN
14. ASET TETAP 113
15. KEGIATAN USAHA PERSEROAN, KECENDERUNGAN DAN PROSPEK USAHA 116
i
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PT INDOMOBIL FINANCE INDONESIA
IX. PERPAJAKAN 128
A. PERPAJAKAN UNTUK PEMEGANG OBLIGASI 128
B. PEMENUHAN PERPAJAKAN OLEH PERSEROAN 129
X. PENJAMINAN EMISI OBLIGASI 130
XI. KETERANGAN TENTANG WALI AMANAT 132
XII. LEMBAGA DAN PROFESI PENUNJANG PASAR MODAL DALAM RANGKA 141
PENAWARAN UMUM
XIII. TATA CARA PEMESANAN PEMBELIAN OBLIGASI 144
XIV. PENYEBARLUASAN PROSPEKTUS DAN FORMULIR PEMESANAN PEMBELIAN 148
OBLIGASI
XV. PENDAPAT SEGI HUKUM 149
XVI. LAPORAN KEUANGAN PERSEROAN 167
ii
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PT INDOMOBIL FINANCE INDONESIA
&/E/^/E^/E'<dE
“Afiliasi” ͗ ĞƌĂƌƚŝ ƉŝŚĂŬͲƉŝŚĂŬ LJĂŶŐ ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵ WĂƐĂů ϮϮ hŶĚĂŶŐͲ
hŶĚĂŶŐ EŽ͘ ϰ dĂŚƵŶ ϮϬϮϯ ƚĞŶƚĂŶŐ WĞŶŐĞŵďĂŶŐĂŶ ĚĂŶ WĞŶŐƵĂƚĂŶ ^ĞŬƚŽƌ
<ĞƵĂŶŐĂŶ;“UUPϮSK”ͿLJĂŝƚƵ͗
Ă͘ ŚƵďƵŶŐĂŶŬĞůƵĂƌŐĂŬĂƌĞŶĂƉĞƌŬĂǁŝŶĂŶƐĂŵƉĂŝ ĚĞŶŐĂŶĚĞƌĂũĂƚŬĞĚƵĂ͕ďĂŝŬ
ƐĞĐĂƌĂŚŽƌŝnjŽŶƚĂůŵĂƵƉƵŶǀĞƌƚŝŬĂů͕LJĂŝƚƵŚƵďƵŶŐĂŶƐĞƐĞŽƌĂŶŐĚĞŶŐĂŶ͗
ϭ͘ ƐƵĂŵŝĂƚĂƵ ŝƐƚƌŝ͖
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ϯ͘ ŬĂŬĞŬĚĂŶŶĞŶĞŬĚĂƌŝƐƵĂŵŝ ĂƚĂƵŝƐƚƌŝĚĂŶƐƵĂŵŝĂƚĂƵŝƐƚƌŝĚĂƌŝĐƵĐƵ͖
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LJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͖ĂƚĂƵ
ϱ͘ ƐƵĂŵŝĂƚĂƵ ŝƐƚƌŝĚĂƌŝƐĂƵĚĂƌĂŽƌĂŶŐLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͖
ď͘ ŚƵďƵŶŐĂŶ ŬĞůƵĂƌŐĂŬĂƌĞŶĂŬĞƚƵƌƵŶĂŶƐĂŵƉĂŝ ĚĞŶŐĂŶĚĞƌĂũĂƚ ŬĞĚƵĂ͕ďĂŝŬ
ƐĞĐĂƌĂŚŽƌŝnjŽŶƚĂůŵĂƵƉƵŶǀĞƌƚŝŬĂů͕LJĂŝƚƵŚƵďƵŶŐĂŶƐĞƐĞŽƌĂŶŐĚĞŶŐĂŶ͗
ϭ͘ ŽƌĂŶŐƚƵĂĚĂŶĂŶĂŬ͖
Ϯ͘ ŬĂŬĞŬĚĂŶŶĞŶĞŬƐĞƌƚĂĐƵĐƵ͖ĂƚĂƵ
ϯ͘ ƐĂƵĚĂƌĂĚĂƌŝŽƌĂŶŐLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͖
Đ͘ ŚƵďƵŶŐĂŶ ĂŶƚĂƌĂ ƉŝŚĂŬ ĚĞŶŐĂŶ ŬĂƌLJĂǁĂŶ͕ ĚŝƌĞŬƚƵƌ͕ ĂƚĂƵ ŬŽŵŝƐĂƌŝƐ ĚĂƌŝ
ƉŝŚĂŬƚĞƌƐĞďƵƚ͖
Ě͘ ŚƵďƵŶŐĂŶĂŶƚĂƌĂ Ϯ;ĚƵĂͿĂƚĂƵůĞďŝŚƉĞƌƵƐĂŚĂĂŶĚŝŵĂŶĂ ƚĞƌĚĂƉĂƚƐĂƚƵĂƚĂƵ
ůĞďŝŚ ĂŶŐŐŽƚĂ ĚŝƌĞŬƐŝ͕ ƉĞŶŐƵƌƵƐ͕ ĚĞǁĂŶ ŬŽŵŝƐĂƌŝƐ ĂƚĂƵ ƉĞŶŐĂǁĂƐ LJĂŶŐ
ƐĂŵĂ
Ğ͘ ŚƵďƵŶŐĂŶ ĂŶƚĂƌĂ ƉĞƌƵƐĂŚĂĂŶ ĚĂŶ ƉŝŚĂŬ͕ ďĂŝŬ ůĂŶŐƐƵŶŐ ŵĂƵƉƵŶ ƚŝĚĂŬ
ůĂŶŐƐƵŶŐ͕ ĚĞŶŐĂŶ ĐĂƌĂ ĂƉĂ ƉƵŶ͕ ŵĞŶŐĞŶĚĂůŝŬĂŶ ĂƚĂƵ ĚŝŬĞŶĚĂůŝŬĂŶ ŽůĞŚ
ƉĞƌƵƐĂŚĂĂŶĂƚĂƵƉŝŚĂŬƚĞƌƐĞďƵƚĚĂůĂŵ ŵĞŶĞŶƚƵŬĂŶƉĞŶŐĞůŽůĂĂŶĚĂŶͬĂƚĂƵ
ŬĞďŝũĂŬĂŶƉĞƌƵƐĂŚĂĂŶĂƚĂƵƉŝŚĂŬĚŝŵĂŬƐƵĚ͖
Ĩ͘ ŚƵďƵŶŐĂŶ ĂŶƚĂƌĂ Ϯ ;ĚƵĂͿ ĂƚĂƵ ůĞďŝŚƉĞƌƵƐĂŚĂĂŶ LJĂŶŐ ĚŝŬĞŶĚĂůŝŬĂŶ͕ ďĂŝŬ
ůĂŶŐƐƵŶŐŵĂƵƉƵŶƚŝĚĂŬůĂŶŐƐƵŶŐ͕ĚĞŶŐĂŶĐĂƌĂĂƉĂƉƵŶ͕ĚĂůĂŵŵĞŶĞŶƚƵŬĂŶ
ƉĞŶŐĞůŽůĂĂŶĚĂŶͬĂƚĂƵŬĞďŝũĂŬĂŶƉĞƌƵƐĂŚĂĂŶŽůĞŚƉŝŚĂŬLJĂŶŐƐĂŵĂ͖ĂƚĂƵ
Ő͘ ŚƵďƵŶŐĂŶ ĂŶƚĂƌĂ ƉĞƌƵƐĂŚĂĂŶ ĚĂŶ ƉĞŵĞŐĂŶŐ ƐĂŚĂŵ ƵƚĂŵĂ LJĂŝƚƵ ƉŝŚĂŬ
LJĂŶŐƐĞĐĂƌĂůĂŶŐƐƵŶŐ ŵĂƵƉƵŶ ƚŝĚĂŬ ůĂŶŐƐƵŶŐ ŵĞŵŝůŝŬŝ ƉĂůŝŶŐŬƵƌĂŶŐ ϮϬй
;ĚƵĂ ƉƵůƵŚ ƉĞƌƐĞŶͿƐĂŚĂŵ LJĂŶŐ ŵĞŵƉƵŶLJĂŝ ŚĂŬ ƐƵĂƌĂ ĚĂƌŝ ƉĞƌƵƐĂŚĂĂŶ
ƚĞƌƐĞďƵƚ͘
“Agen Pembayaran” ͗ ĞƌĂƌƚŝ Wd <ƵƐƚŽĚŝĂŶ ^ĞŶƚƌĂů ĨĞŬ /ŶĚŽŶĞƐŝĂ ;<^ /Ϳ͕ ďĞƌŬĞĚƵĚƵŬĂŶ Ěŝ :ĂŬĂƌƚĂ
^ĞůĂƚĂŶ͕ LJĂŶŐĚŝƚƵŶũƵŬWĞƌƐĞƌŽĂŶĚĞŶŐĂŶƉĞƌũĂŶũŝĂŶƚĞƌƚƵůŝƐLJĂŶŐďĞƌŬĞǁĂũŝďĂŶ
ŵĞŵďĂŶƚƵ ŵĞůĂŬƐĂŶĂŬĂŶ ƉĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝ ĚĂŶͬĂƚĂƵ ƉĞůƵŶĂƐĂŶ
WŽŬŽŬ KďůŝŐĂƐŝ ĚĂŶͬĂƚĂƵ ĞŶĚĂ ;ũŝŬĂ ĂĚĂͿ ĚĂŶͬĂƚĂƵ ƉĞŵďĂLJĂƌĂŶ ŚĂŬͲŚĂŬ
ůĂŝŶͬŵĂŶĨĂĂƚ ůĂŝŶĂƚĂƐKďůŝŐĂƐŝ ;ũŝŬĂĂĚĂͿŬĞƉĂĚĂWĞŵĞŐĂŶŐ KďůŝŐĂƐŝƵŶƚƵŬĚĂŶ
ĂƚĂƐ ŶĂŵĂ WĞƌƐĞƌŽĂŶƐĞďĂŐĂŝŵĂŶĂ ĚŝĂƚƵƌĚĂůĂŵ WĞƌũĂŶũŝĂŶŐĞŶWĞŵďĂLJĂƌĂŶ͕
ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ ŬĞƚĞŶƚƵĂŶ LJĂŶŐ ĚŝĂƚƵƌ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ
WĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘
“Anak Perusahaan” ͗ ĞƌĂƌƚŝ ƉĞƌƵƐĂŚĂĂŶ LJĂŶŐ ůĂƉŽƌĂŶ ŬĞƵĂŶŐĂŶŶLJĂ ĚŝŬŽŶƐŽůŝĚĂƐŝŬĂŶ ĚĞŶŐĂŶ
WĞƌƐĞƌŽĂŶƐĞƐƵĂŝĚĞŶŐĂŶƐƚĂŶĚĂƌĂŬƵŶƚĂŶƐŝ LJĂŶŐďĞƌůĂŬƵĚŝ/ŶĚŽŶĞƐŝĂ͘
“Aktiva Tetap” ͗ ĞƌĂƌƚŝ ƐĞůƵƌƵŚ ĂŬƚŝǀĂ ƚĞƚĂƉ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŚĂƌŐĂ ƉĞƌŽůĞŚĂŶ ĂŬƚŝǀĂ
ƚĞƚĂƉƐĞƐƵĂŝĚĞŶŐĂŶůĂƉŽƌĂŶŬĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶ͘
“Bank Kustodian” ͗ ĞƌĂƌƚŝďĂŶŬƵŵƵŵ LJĂŶŐƚĞůĂŚŵĞŵƉĞƌŽůĞŚƉĞƌƐĞƚƵũƵĂŶK:<ƵŶƚƵŬŵĞůĂŬƵŬĂŶ
ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ƐĞďĂŐĂŝ <ƵƐƚŽĚŝĂŶ ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵ hŶĚĂŶŐͲ
hŶĚĂŶŐWĂƐĂƌDŽĚĂů͘
iii
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PT INDOMOBIL FINANCE INDONESIA
“Bapepam” ͗ ĞƌĂƌƚŝ ĂĚĂŶ WĞŶŐĂǁĂƐ WĂƐĂƌ DŽĚĂů ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵ WĂƐĂů ϯ
ĂLJĂƚϭhŶĚĂŶŐͲhŶĚĂŶŐ WĂƐĂƌDŽĚĂůĂƚĂƵƉĂƌĂƉĞŶŐŐĂŶƚŝĚĂŶƉĞŶĞƌŝŵĂŚĂŬĚĂŶ
ŬĞǁĂũŝďĂŶŶLJĂ͘
“Bapepam dan LK” ͗ ĂĚĂŶ WĞŶŐĂǁĂƐWĂƐĂƌDŽĚĂů ĚĂŶ>ĞŵďĂŐĂ<ĞƵĂŶŐĂŶƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ
ĚĂůĂŵ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶ DĞŶƚĞƌŝ <ĞƵĂŶŐĂŶ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ EŽŵŽƌ͗
ϲϬϲͬ<D<͘ϬͬϮϬϬϱƚĂŶŐŐĂůϯϬ;ƚŝŐĂƉƵůƵŚͿĞƐĞŵďĞƌϮϬϬϱ;ĚƵĂƌŝďƵůŝŵĂͿƚĞŶƚĂŶŐ
KƌŐĂŶŝƐĂƐŝĚĂŶdĂƚĂ<ĞƌũĂĂĚĂŶWĞŶŐĂǁĂƐWĂƐĂƌDŽĚĂůĚĂŶ>ĞŵďĂŐĂ<ĞƵĂŶŐĂŶ
“Bunga Obligasi” ͗ ďĞƌĂƌƚŝďƵŶŐĂ KďůŝŐĂƐŝ LJĂŶŐ ŚĂƌƵƐ ĚŝďĂLJĂƌŽůĞŚ WĞƌƐĞƌŽĂŶŬĞƉĂĚĂ WĞŵĞŐĂŶŐ
KďůŝŐĂƐŝ͕ ŬĞĐƵĂůŝKďůŝŐĂƐŝ LJĂŶŐ ĚŝŵŝůŝŬŝ WĞƌƐĞƌŽĂŶ͕LJĂŶŐ ŵĂŶĂ ďƵŶŐĂ KďůŝŐĂƐŝ
ƚĞƌƐĞďƵƚĂŬĂŶ ĚŝďĂLJĂƌŬĂŶ ŽůĞŚWĞƌƐĞƌŽĂŶŬĞƉĂĚĂ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ŵĞůĂůƵŝ
WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ ƉĂĚĂ ƚĂŶŐŐĂů ƉĞŵďĂLJĂƌĂŶ ďƵŶŐĂ LJĂŶŐ ďĞƌƐĂŶŐŬƵƚĂŶ
ďĞƌĚĂƐĂƌŬĂŶ ĂĨƚĂƌ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ ĚĂŶ ^ĞƌƚŝĨŝŬĂƚ :ƵŵďŽ KďůŝŐĂƐŝ͕
ƐĞďĂŐĂŝŵĂŶĂ ĚŝƚĞŶƚƵŬĂŶ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘ ZŝŶĐŝĂŶ ƚŝŶŐŬĂƚ
ďƵŶŐĂKďůŝŐĂƐŝĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
▪ KďůŝŐĂƐŝ^ĞƌŝĚĞŶŐĂŶďƵŶŐĂƚĞƚĂƉ ƐĞďĞƐĂƌϲ͕ϰϱй;ĞŶĂŵŬŽŵĂĞŵƉĂƚ ůŝŵĂ
ƉĞƌƐĞŶͿƉĞƌƚĂŚƵŶ͖ĚĂŶ
▪ KďůŝŐĂƐŝ^ĞƌŝĚĞŶŐĂŶďƵŶŐĂƚĞƚĂƉƐĞďĞƐĂƌϲ͕ϴϱй;ĞŶĂŵŬŽŵĂĚĞůĂƉĂŶůŝŵĂ
ƉĞƌƐĞŶͿƉĞƌƚĂŚƵŶ͘
▪ KďůŝŐĂƐŝ ^Ğƌŝ ĚĞŶŐĂŶ ďƵŶŐĂ ƚĞƚĂƉ ƐĞďĞƐĂƌ ϳ͕ϭϬй ;ƚƵũƵŚ ŬŽŵĂ ƐĂƚƵ ŶŽů
ƉĞƌƐĞŶͿƉĞƌƚĂŚƵŶ͘
^ĞďĂŐĂŝŵĂŶĂ ĚŝƚĞŶƚƵŬĂŶĚĂůĂŵ WĂƐĂůϱWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘
“Bursa Efek” ͗ ĞƌĂƌƚŝƉŝŚĂŬƉĞŶLJĞůĞŶŐŐĂƌĂƉĂƐĂƌ ĚŝƉĂƐĂƌ ŵŽĚĂů ƵŶƚƵŬƚƌĂŶƐĂŬƐŝ ďƵƌƐĂ͕ LJĂŶŐ
ĚĂůĂŵ ŚĂů ŝŶŝ ĂĚĂůĂŚ Wd ƵƌƐĂ ĨĞŬ /ŶĚŽŶĞƐŝĂ͕ LJĂŶŐ ďĞƌŬĞĚƵĚƵŬĂŶĚŝ :ĂŬĂƌƚĂ
^ĞůĂƚĂŶ͘
“Daftar Pemegang ͗ ĞƌĂƌƚŝ ĚĂĨƚĂƌ LJĂŶŐ ĚŝŬĞůƵĂƌŬĂŶ ŽůĞŚ <^ / LJĂŶŐ ŵĞŵƵĂƚ ŬĞƚĞƌĂŶŐĂŶ ƚĞŶƚĂŶŐ
Rekening” ŬĞƉĞŵŝůŝŬĂŶ KďůŝŐĂƐŝ ŽůĞŚ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ŵĞůĂůƵŝ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐĚŝ
<^ /LJĂŶŐŵĞŵƵĂƚ ŬĞƚĞƌĂŶŐĂŶĂŶƚĂƌĂ ůĂŝŶ͗ŶĂŵĂ͕ ũƵŵůĂŚŬĞƉĞŵŝůŝŬĂŶKďůŝŐĂƐŝ͕
ƐƚĂƚƵƐ ƉĂũĂŬ ĚĂŶ ŬĞǁĂƌŐĂŶĞŐĂƌĂĂŶ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ďĞƌĚĂƐĂƌŬĂŶ ĚĂƚĂͲĚĂƚĂ
LJĂŶŐĚŝďĞƌŝŬĂŶŽůĞŚWĞŵĞŐĂŶŐZĞŬĞŶŝŶŐŬĞƉĂĚĂ<^ /͘
“Denda” ͗ ĞƌĂƌƚŝ ƐĞũƵŵůĂŚ ĚĂŶĂ LJĂŶŐ ǁĂũŝď ĚŝďĂLJĂƌ ŽůĞŚ WĞƌƐĞƌŽĂŶ ĂŬŝďĂƚ ĂĚĂŶLJĂ
ŬĞƚĞƌůĂŵďĂƚĂŶ ŬĞǁĂũŝďĂŶƉĞŵďĂLJĂƌĂŶ ƵŶŐĂKďůŝŐĂƐŝĚĂŶͬĂƚĂƵWŽŬŽŬKďůŝŐĂƐŝ
LJĂŝƚƵ ƐĞďĞƐĂƌ Ϭ͕ϱй ;ŶŽů ŬŽŵĂ ůŝŵĂ ƉĞƌƐĞŶͿƉĞƌ ƚĂŚƵŶ ĚŝĂƚĂƐ ƚŝŶŐŬĂƚ ƵŶŐĂ
KďůŝŐĂƐŝŵĂƐŝŶŐͲŵĂƐŝŶŐ ƐĞƌŝKďůŝŐĂƐŝĚĂƌŝũƵŵůĂŚ ĚĂŶĂLJĂŶŐƚĞƌůĂŵďĂƚ ĚŝďĂLJĂƌ͕
LJĂŶŐ ĚŝŚŝƚƵŶŐ ƐĞĐĂƌĂŚĂƌŝĂŶ͕ƐĞũĂŬ ŚĂƌŝŬĞƚĞƌůĂŵďĂƚĂŶ ƐĂŵƉĂŝ ĚĞŶŐĂŶĚŝďĂLJĂƌ
ůƵŶĂƐ ƐƵĂƚƵ ŬĞǁĂũŝďĂŶ LJĂŶŐ ŚĂƌƵƐ ĚŝďĂLJĂƌ ďĞƌĚĂƐĂƌŬĂŶ WĞƌũĂŶũŝĂŶ
WĞƌǁĂůŝĂŵĂŶĂƚĂŶ͕ ĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶϭ;ƐĂƚƵͿƚĂŚƵŶĂĚĂůĂŚϯϲϬ;ƚŝŐĂƌĂƚƵƐĞŶĂŵ
ƉƵůƵŚͿŚĂƌŝĚĂŶϭ;ƐĂƚƵͿ ďƵůĂŶĂĚĂůĂŚϯϬ;ƚŝŐĂƉƵůƵŚͿŚĂƌŝ͘
“Dokumen Emisi” ͗ ĞƌĂƌƚŝĚŽŬƵŵĞŶLJĂŶŐĚŝƐĂŵƉĂŝŬĂŶ ŬĞƉĂĚĂK:<͕ /͕ <^ / ĚĂŶůĞŵďĂŐĂ ƚĞƌŬĂŝƚ
ůĂŝŶŶLJĂ͕ƐĞƐƵĂŝĚĞŶŐĂŶƉĞƌĂƚƵƌĂŶƉĂƐĂƌŵŽĚĂůĚŝ/ŶĚŽŶĞƐŝĂĚŝĂŶƚĂƌĂŶLJĂ ďĞƌƵƉĂ
ŬƚĂ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ͕ ŬƚĂ WĞŶŐĂŬƵĂŶ hƚĂŶŐ͕ ŬƚĂ WĞƌũĂŶũŝĂŶ
WĞŶũĂŵŝŶĂŶ ŵŝƐŝ KďůŝŐĂƐŝ͕ ŬƚĂ WĞƌũĂŶũŝĂŶ ŐĞŶ WĞŵďĂLJĂƌĂŶ͕ WĞƌũĂŶũŝĂŶ
WĞŶĚĂĨƚĂƌĂŶ ĨĞŬ ĞƌƐŝĨĂƚ hƚĂŶŐ Ěŝ <^ /͕ WƌŽƐƉĞŬƚƵƐ͕ WƌŽƐƉĞŬƚƵƐ ǁĂů͕
WƌŽƐƉĞŬƚƵƐ ZŝŶŐŬĂƐ͕ WĞƌŶLJĂƚĂĂŶ WĞŶĂǁĂƌĂŶ hŵƵŵ͕ ĚĂŶ ĚŽŬƵŵĞŶͲĚŽŬƵŵĞŶ
ůĂŝŶŶLJĂ LJĂŶŐĚŝďƵĂƚĚĂůĂŵ ƌĂŶŐŬĂ WĞŶĂǁĂƌĂŶhŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶŝŶŝďĞƌŝŬƵƚ
ƐĞŐĂůĂƉĞƌƵďĂŚĂŶͲƉĞƌƵďĂŚĂŶŶLJĂ͘
“Emisi” ͗ ĞƌĂƌƚŝƉĞŶĞƌďŝƚĂŶKďůŝŐĂƐŝŽůĞŚWĞƌƐĞƌŽĂŶƵŶƚƵŬĚŝƚĂǁĂƌŬĂŶ ĚĂŶĚŝũƵĂůŬĞƉĂĚĂ
DĂƐLJĂƌĂŬĂƚ ŵĞůĂůƵŝWĞŶĂǁĂƌĂŶhŵƵŵ͘
iv
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PT INDOMOBIL FINANCE INDONESIA
“Hari Kalender” ͗ ĞƌĂƌƚŝƐĞƚŝĂƉŚĂƌŝĚĂůĂŵϭ;ƐĂƚƵͿƚĂŚƵŶƐĞƐƵĂŝĚĞŶŐĂŶ'ƌĞŐŽƌŝƵƐĂůĞŶĚĂƌƚĂŶƉĂ
ŬĞĐƵĂůŝ͕ ƚĞƌŵĂƐƵŬ ŚĂƌŝ ^ĂďƚƵ͕ DŝŶŐŐƵ ĚĂŶ ŚĂƌŝ ůŝďƵƌ ŶĂƐŝŽŶĂů LJĂŶŐ ƐĞǁĂŬƚƵͲ
ǁĂŬƚƵĚŝƚĞƚĂƉŬĂŶŽůĞŚWĞŵĞƌŝŶƚĂŚZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂĚĂŶ,Ăƌŝ<ĞƌũĂďŝĂƐĂLJĂŶŐ
ŬĂƌĞŶĂƐƵĂƚƵŬĞĂĚĂĂŶƚĞƌƚĞŶƚƵĚŝƚĞƚĂƉŬĂŶ ŽůĞŚWĞŵĞƌŝŶƚĂŚZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ
ƐĞďĂŐĂŝďƵŬĂŶ,Ăƌŝ<ĞƌũĂďŝĂƐĂ͘
“Hari Kerja” ͗ ĞƌĂƌƚŝ ŚĂƌŝ^ĞŶŝŶƐĂŵƉĂŝ ĚĞŶŐĂŶ ŚĂƌŝ :ƵŵĂƚ͕ ŬĞĐƵĂůŝ ŚĂƌŝůŝďƵƌŶĂƐŝŽŶĂů LJĂŶŐ
ĚŝƚĞƚĂƉŬĂŶ ŽůĞŚ WĞŵĞƌŝŶƚĂŚ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ĂƚĂƵ ,Ăƌŝ <ĞƌũĂ ďŝĂƐĂ LJĂŶŐ
ŬĂƌĞŶĂƐƵĂƚƵŬĞĂĚĂĂŶƚĞƌƚĞŶƚƵĚŝƚĞƚĂƉŬĂŶ ŽůĞŚWĞŵĞƌŝŶƚĂŚZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ
ƐĞďĂŐĂŝďƵŬĂŶ,Ăƌŝ<ĞƌũĂďŝĂƐĂ͘
“Prospektus” ͗ ĞƌĂƌƚŝĚŽŬƵŵĞŶƚĞƌƚƵůŝƐLJĂŶŐŵĞŵƵĂƚ ŝŶĨŽƌŵĂƐŝ WĞƌƐĞƌŽĂŶĚĂŶŝŶĨŽƌŵĂƐŝ ůĂŝŶ
ƐĞŚƵďƵŶŐĂŶĚĞŶŐĂŶWĞŶĂǁĂƌĂŶhŵƵŵ ĚĞŶŐĂŶƚƵũƵĂŶĂŐĂƌƉŝŚĂŬůĂŝŶŵĞŵďĞůŝ
ĨĞŬ͘
“Jaminan” ͗ KďůŝŐĂƐŝŝŶŝƚŝĚĂŬĚŝũĂŵŝŶĚĞŶŐĂŶũĂŵŝŶĂŶŬŚƵƐƵƐ͕ƚĞƚĂƉŝĚŝũĂŵŝŶĚĞŶŐĂŶƐĞůƵƌƵŚ
ŚĂƌƚĂŬĞŬĂLJĂĂŶWĞƌƐĞƌŽĂŶďĂŝŬďĂƌĂŶŐďĞƌŐĞƌĂŬŵĂƵƉƵŶďĂƌĂŶŐƚŝĚĂŬďĞƌŐĞƌĂŬ͕
ďĂŝŬ LJĂŶŐ ƚĞůĂŚ ĂĚĂ ŵĂƵƉƵŶ LJĂŶŐ ĂŬĂŶ ĂĚĂ Ěŝ ŬĞŵƵĚŝĂŶ ŚĂƌŝ ƐĞƐƵĂŝ ĚĞŶŐĂŶ
ŬĞƚĞŶƚƵĂŶ ĚĂůĂŵ ƉĂƐĂů ϭϭϯϭĚĂŶϭϭϯϮŬŝƚĂď hŶĚĂŶŐͲhŶĚĂŶŐ ,ƵŬƵŵ WĞƌĚĂƚĂ͘
,ĂŬWĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĂĚĂůĂŚ ƉĂƌŝƉĂƐƐƵƚĂŶƉĂ ŚĂŬƉƌĞĨĞƌĞŶĚĞŶŐĂŶŚĂŬͲŚĂŬ
ŬƌĞĚŝƚƵƌƉĞƌƐĞƌŽĂŶůĂŝŶŶLJĂ ďĂŝŬ LJĂŶŐ ĂĚĂ ƐĞŬĂƌĂŶŐ ŵĂƵƉƵŶ ĚŝŬĞŵƵĚŝĂŶ ŚĂƌŝ͕
ŬĞĐƵĂůŝ ŚĂŬͲŚĂŬ ŬƌĞĚŝƚƵƌ WĞƌƐĞƌŽĂŶ LJĂŶŐ ĚŝũĂŵŝŶ ƐĞĐĂƌĂ ŬŚƵƐƵƐ ĚĞŶŐĂŶ
ŬĞŬĂLJĂĂŶ WĞƌƐĞƌŽĂŶďĂŝŬ LJĂŶŐ ƚĞůĂŚ ĂĚĂ ŵĂƵƉƵŶ LJĂŶŐ ĂŬĂŶ ĂĚĂĚŝ ŬĞŵƵĚŝĂŶ
ŚĂƌŝ͘
ĞƌĂƌƚŝ ũĂŵŝŶĂŶ ƵŶƚƵŬ ŵĞŶũĂŵŝŶ ƉĞůƵŶĂƐĂŶ :ƵŵůĂŚ dĞƌƵƚĂŶŐ ƐĞƐƵĂŝ ĚĞŶŐĂŶ
ŬĞƚĞŶƚƵĂŶWĂƐĂůϭϮWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘
“Jumlah Terutang” ͗ ĞƌĂƌƚŝ ƐĞũƵŵůĂŚ ƵĂŶŐ LJĂŶŐ ŚĂƌƵƐ ĚŝďĂLJĂƌ ŽůĞŚ WĞƌƐĞƌŽĂŶŬĞƉĂĚĂ WĞŵĞŐĂŶŐ
KďůŝŐĂƐŝ ďĞƌĚĂƐĂƌŬĂŶ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ƐĞƌƚĂ ƉĞƌũĂŶũŝĂŶͲƉĞƌũĂŶũŝĂŶ
ůĂŝŶŶLJĂ LJĂŶŐďĞƌŚƵďƵŶŐĂŶĚĞŶŐĂŶKďůŝŐĂƐŝ ŝŶŝ͕ ƚĞƌŵĂƐƵŬ ƚĞƚĂƉŝƚŝĚĂŬ ƚĞƌďĂƚĂƐ
ƉĂĚĂ WŽŬŽŬKďůŝŐĂƐŝ ĚĂŶ ƵŶŐĂ KďůŝŐĂƐŝ ƐĞƌƚĂĞŶĚĂ ;ũŝŬĂ ĂĚĂͿ LJĂŶŐ ƚĞƌƵƚĂŶŐ
ĚĂƌŝǁĂŬƚƵ ŬĞǁĂŬƚƵ͘
“Konfirmasi Tertulis” ͗ ĞƌĂƌƚŝŬŽŶĨŝƌŵĂƐŝƚĞƌƚƵůŝƐĚĂŶͬĂƚĂƵ ůĂƉŽƌĂŶƐĂůĚŽKďůŝŐĂƐŝĚĂůĂŵ ZĞŬĞŶŝŶŐ ĨĞŬ
LJĂŶŐ ĚŝƚĞƌďŝƚŬĂŶ ŽůĞŚ <^ /͕ ĂƚĂƵ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ ďĞƌĚĂƐĂƌŬĂŶ ƉĞƌũĂŶũŝĂŶ
ƉĞŵďƵŬĂĂŶZĞŬĞŶŝŶŐ ĨĞŬĚĞŶŐĂŶWĞŵĞŐĂŶŐKďůŝŐĂƐŝĚĂŶŬŽŶĨŝƌŵĂƐŝƚĞƌƐĞďƵƚ
ŵĞŶũĂĚŝ ĚĂƐĂƌ ƵŶƚƵŬ ŵĞŶĚĂƉĂƚŬĂŶ ƉĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝ͕ ƉĞůƵŶĂƐĂŶ
WŽŬŽŬKďůŝŐĂƐŝĚĂŶŚĂŬͲŚĂŬůĂŝŶLJĂŶŐďĞƌŬĂŝƚĂŶĚĞŶŐĂŶKďůŝŐĂƐŝ͘
“Konfirmasi Tertulis ͗ ĞƌĂƌƚŝƐƵƌĂƚŬŽŶĨŝƌŵĂƐŝŬĞƉĞŵŝůŝŬĂŶKďůŝŐĂƐŝLJĂŶŐĚŝƚĞƌďŝƚŬĂŶŽůĞŚ<^ /ŬĞƉĂĚĂ
Untuk RUPO” atau WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ŵĞůĂůƵŝ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ͕ ŬŚƵƐƵƐ ƵŶƚƵŬ ŵĞŶŐŚĂĚŝƌŝ
“KTUR” ZhWK ĂƚĂƵ ŵĞŵŝŶƚĂ ĚŝƐĞůĞŶŐŐĂƌĂŬĂŶ ZhWK͕ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ
ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ<^ /͘
“KSEI” ͗ ĞƌĂƌƚŝWd<ƵƐƚŽĚŝĂŶ ^ĞŶƚƌĂů ĨĞŬ /ŶĚŽŶĞƐŝĂ͕ďĞƌŬĞĚƵĚƵŬĂŶĚŝ:ĂŬĂƌƚĂ ^ĞůĂƚĂŶ͕
LJĂŶŐ ŵĞŶũĂůĂŶŬĂŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ƐĞďĂŐĂŝ >ĞŵďĂŐĂ WĞŶLJŝŵƉĂŶĂŶ ĚĂŶ
WĞŶLJĞůĞƐĂŝĂŶ ƐĞďĂŐĂŝŵĂŶĂ ĚŝĚĞĨŝŶŝƐŝŬĂŶ ĚĂůĂŵ hhWϮ^< LJĂŶŐ ĚĂůĂŵ ŵŝƐŝ
ďĞƌƚƵŐĂƐƐĞďĂŐĂŝ ŐĞŶWĞŵďĂLJĂƌĂŶ ďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶŐĞŶWĞŵďĂLJĂƌĂŶ
ĚĂŶŵĞŶŐĂĚŵŝŶŝƐƚƌĂƐŝŬĂŶ KďůŝŐĂƐŝďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶWĞŶĚĂĨƚĂƌĂŶKďůŝŐĂƐŝ
Ěŝ<^ /͘
“Kustodian” ͗ ĞƌĂƌƚŝƉŝŚĂŬ LJĂŶŐ ŵĞŵďĞƌŝ ũĂƐĂ ƉĞŶŝƚŝƉĂŶ KďůŝŐĂƐŝ ĚĂŶ ŚĂƌƚĂ LJĂŶŐ ďĞƌŬĂŝƚĂŶ
ĚĞŶŐĂŶKďůŝŐĂƐŝƐĞƌƚĂũĂƐĂůĂŝŶŶLJĂƚĞƌŵĂƐƵŬŵĞŶĞƌŝŵĂďƵŶŐĂĚĂŶŚĂŬͲŚĂŬůĂŝŶ͕
ŵĞŶLJĞůĞƐĂŝŬĂŶ ƚƌĂŶƐĂŬƐŝ ĞĨĞŬĚĂŶŵĞǁĂŬŝůŝ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐLJĂŶŐ ŵĞŶũĂĚŝ
ŶĂƐĂďĂŚŶLJĂ ƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶhhWϮ^<͕LJĂŶŐŵĞůŝƉƵƚŝ <^ /͕WĞƌƵƐĂŚĂĂŶ
ĨĞŬĚĂŶĂŶŬ<ƵƐƚŽĚŝĂŶ͘
v
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PT INDOMOBIL FINANCE INDONESIA
“Masyarakat” ͗ ĞƌĂƌƚŝ ƉĞƌŽƌĂŶŐĂŶ ĚĂŶͬĂƚĂƵ ďĂĚĂŶ͕ ďĂŝŬ tĂƌŐĂ EĞŐĂƌĂ /ŶĚŽŶĞƐŝĂͬĂĚĂŶ
/ŶĚŽŶĞƐŝĂ ŵĂƵƉƵŶ tĂƌŐĂ EĞŐĂƌĂ ƐŝŶŐͬĂĚĂŶ ƐŝŶŐ ďĂŝŬ LJĂŶŐ ďĞƌƚĞŵƉĂƚ
ƚŝŶŐŐĂůͬďĞƌŬĞĚƵĚƵŬĂŶ Ěŝ /ŶĚŽŶĞƐŝĂ ŵĂƵƉƵŶ LJĂŶŐ ďĞƌƚĞŵƉĂƚ
ƚŝŶŐŐĂůͬďĞƌŬĞĚƵĚƵŬĂŶĚŝǁŝůĂLJĂŚ /ŶĚŽŶĞƐŝĂ͘
“Obligasi” ͗ ĞƌĂƌƚŝ KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ
dĞƚĂƉdĂŚĂƉ/dĂŚƵŶϮϬϮϱĚĞŶŐĂŶũƵŵůĂŚƉŽŬŽŬƐĞďĞƐĂƌZƉϭ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ
;ƐĂƚƵƚƌŝůŝƵŶZƵƉŝĂŚͿLJĂŶŐƚĞƌĚŝƌŝĚĂƌŝ͗
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ
ZƉϱϮϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ůŝŵĂ ƌĂƚƵƐ ĚƵĂƉƵůƵŚŵŝůŝĂƌ ZƵƉŝĂŚͿ ĚĞŶŐĂŶ
ƚŝŶŐŬĂƚ ďƵŶŐĂ ƚĞƚĂƉ KďůŝŐĂƐŝ ƐĞďĞƐĂƌ ϲ͕ϰϱй ;ĞŶĂŵ ŬŽŵĂ ĞŵƉĂƚ
ůŝŵĂ ƉĞƌƐĞŶͿ͘:ĂŶŐŬĂ ǁĂŬƚƵ KďůŝŐĂƐŝ ^ĞƌŝĂĚĂůĂŚ ϯϳϬ;ƚŝŐĂ ƌĂƚƵƐ
ƚƵũƵŚ ƉƵůƵŚͿ ,Ăƌŝ <ĂůĞŶĚĞƌ ƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ dĂŶŐŐĂů ŵŝƐŝ͘
WĞŵďĂLJĂƌĂŶ KďůŝŐĂƐŝ ĚŝůĂŬƵŬĂŶ ƐĞĐĂƌĂ ƉĞŶƵŚ ;ďƵůůĞƚ ƉĂLJŵĞŶƚͿ
ƐĞďĞƐĂƌϭϬϬй;ƐĞƌĂƚƵƐ ƉĞƌƐĞŶͿĚĂƌŝ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ
ƉĂĚĂƐĂĂƚũĂƚƵŚƚĞŵƉŽKďůŝŐĂƐŝ^Ğƌŝ͘
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ
ZƉϴϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ĚĞůĂƉĂŶ ƉƵůƵŚŵŝůŝĂƌ ZƵƉŝĂŚͿ ĚĞŶŐĂŶƚŝŶŐŬĂƚ
ďƵŶŐĂ ƚĞƚĂƉ KďůŝŐĂƐŝ ƐĞďĞƐĂƌ ϲ͕ϴϱй ;ĞŶĂŵ ŬŽŵĂ ĚĞůĂƉĂŶ ůŝŵĂ
ƉĞƌƐĞŶͿ͘ :ĂŶŐŬĂ ǁĂŬƚƵ KďůŝŐĂƐŝ ^Ğƌŝ ĂĚĂůĂŚ ϯ ;ƚŝŐĂͿ ƚĂŚƵŶ
ƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ dĂŶŐŐĂů ŵŝƐŝ͘ WĞŵďĂLJĂƌĂŶ KďůŝŐĂƐŝ ĚŝůĂŬƵŬĂŶ
ƐĞĐĂƌĂƉĞŶƵŚ;ďƵůůĞƚƉĂLJŵĞŶƚͿƐĞďĞƐĂƌϭϬϬй;ƐĞƌĂƚƵƐƉĞƌƐĞŶͿĚĂƌŝ
:ƵŵůĂŚWŽŬŽŬKďůŝŐĂƐŝ^ĞƌŝƉĂĚĂƐĂĂƚũĂƚƵŚƚĞŵƉŽKďůŝŐĂƐŝ^Ğƌŝ͘
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ
ZƉϰϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ĞŵƉĂƚ ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĚĞŶŐĂŶ ƚŝŶŐŬĂƚ
ďƵŶŐĂƚĞƚĂƉ KďůŝŐĂƐŝƐĞďĞƐĂƌϳ͕ϭϬй;ƚƵũƵŚŬŽŵĂ ƐĂƚƵ ŶŽůƉĞƌƐĞŶͿ͘
:ĂŶŐŬĂ ǁĂŬƚƵ KďůŝŐĂƐŝ^ĞƌŝĂĚĂůĂŚ ϱ;ůŝŵĂͿ ƚĂŚƵŶƚĞƌŚŝƚƵŶŐƐĞũĂŬ
dĂŶŐŐĂů ŵŝƐŝ͘WĞŵďĂLJĂƌĂŶKďůŝŐĂƐŝĚŝůĂŬƵŬĂŶƐĞĐĂƌĂƉĞŶƵŚ;ďƵůůĞƚ
ƉĂLJŵĞŶƚͿ ƐĞďĞƐĂƌ ϭϬϬй ;ƐĞƌĂƚƵƐ ƉĞƌƐĞŶͿ ĚĂƌŝ :ƵŵůĂŚ WŽŬŽŬ
KďůŝŐĂƐŝ^ĞƌŝƉĂĚĂƐĂĂƚ ũĂƚƵŚƚĞŵƉŽKďůŝŐĂƐŝ^Ğƌŝ͘
LJĂŶŐŵĞƌƵƉĂŬĂŶƐƵƌĂƚďĞƌŚĂƌŐĂďĞƌƐŝĨĂƚƵƚĂŶŐLJĂŶŐĚŝŬĞůƵĂƌŬĂŶŽůĞŚWĞƌƐĞƌŽĂŶ
ŬĞƉĂĚĂ WĞŵĞŐĂŶŐKďůŝŐĂƐŝ ŵĞůĂůƵŝ WĞŶĂǁĂƌĂŶ hŵƵŵ ĚĂŶ ĚŝďƵŬƚŝŬĂŶ ĚĞŶŐĂŶ
^ĞƌƚŝĨŝŬĂƚ :ƵŵďŽ KďůŝŐĂƐŝ͕ ƐĞƌƚĂĂŬĂŶ ĚŝĐĂƚĂƚŬĂŶ ĚŝƵƌƐĂ ĨĞŬ ĚĂŶĚŝĚĂĨƚĂƌŬĂŶ
ĚĂůĂŵ WĞŶŝƚŝƉĂŶ<ŽůĞŬƚŝĨ<^ /ďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶWĞŶĚĂĨƚĂƌĂŶ ĨĞŬĞƌƐŝĨĂƚ
hƚĂŶŐ Ěŝ <^ /͘ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ƚĞƌƐĞďƵƚ ĚĂƉĂƚ ďĞƌŬƵƌĂŶŐ ƐĞŚƵďƵŶŐĂŶ
ĚĞŶŐĂŶ ƉĞůƵŶĂƐĂŶ WŽŬŽŬ KďůŝŐĂƐŝ ĚĂƌŝ ŵĂƐŝŶŐͲŵĂƐŝŶŐ ƐĞƌŝ KďůŝŐĂƐŝ ĚĂŶͬĂƚĂƵ
ŬĂƌĞŶĂƉĞŵďĞůŝĂŶŬĞŵďĂůŝƐĞďĂŐĂŝƉĞůƵŶĂƐĂŶKďůŝŐĂƐŝƐĞďĂŐĂŝŵĂŶĂ ĚŝďƵŬƚŝŬĂŶ
ĚĞŶŐĂŶ ^ĞƌƚŝĨŝŬĂƚ :ƵŵďŽ KďůŝŐĂƐŝ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ ƐLJĂƌĂƚͲƐLJĂƌĂƚ
ƐĞďĂŐĂŝŵĂŶĂ ĚŝƵƌĂŝŬĂŶĚĂůĂŵ WĂƐĂůϱWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘
“Otoritas Jasa ͗ ĞƌĂƌƚŝ ůĞŵďĂŐĂ LJĂŶŐ /ŶĚĞƉĞŶĚĞŶ LJĂŶŐ ŵĞŵƉƵŶLJĂŝ ĨƵŶŐƐŝ͕ ƚƵŐĂƐ͕ ĚĂŶ
Keuangan” atau “OJK” ǁĞǁĞŶĂŶŐ ƉĞŶŐĂƚƵƌĂŶ͕ ƉĞŶŐĂǁĂƐĂŶ͕ ƉĞŵĞƌŝŬƐĂĂŶ͕ ĚĂŶ ƉĞŶLJŝĚŝŬĂŶ
ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵ hŶĚĂŶŐͲhŶĚĂŶŐ EŽ͘ ϮϭdĂŚƵŶϮϬϭϭƚĂŶŐŐĂů ϮϮ
EŽǀĞŵďĞƌϮϬϭϭƚĞŶƚĂŶŐ KƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶ͘
“Pemegang Obligasi” ͗ ĞƌĂƌƚŝDĂƐLJĂƌĂŬĂƚ LJĂŶŐŵĞŵŝůŝŬŝŵĂŶĨĂĂƚ ĂƚĂƐ ƐĞďĂŐŝĂŶ ĂƚĂƵ ƐĞůƵƌƵŚKďůŝŐĂƐŝ
LJĂŶŐĚŝƐŝŵƉĂŶĚĂŶĚŝĂĚŵŝŶŝƐƚƌĂƐŝŬĂŶ ĚĂůĂŵ͗
Ă͘ ZĞŬĞŶŝŶŐ ĨĞŬƉĂĚĂ<^ /͖ĂƚĂƵ
ď͘ ZĞŬĞŶŝŶŐ ĨĞŬƉĂĚĂ<^ /ŵĞůĂůƵŝĂŶŬ<ƵƐƚŽĚŝĂŶĂƚĂƵWĞƌƵƐĂŚĂĂŶ ĨĞŬ͘
“Pemegang Rekening” ͗ ĞƌĂƌƚŝƉŝŚĂŬLJĂŶŐŶĂŵĂŶLJĂ ƚĞƌĐĂƚĂƚƐĞďĂŐĂŝƉĞŵŝůŝŬZĞŬĞŶŝŶŐ ĨĞŬĚŝ<^ /LJĂŶŐ
ŵĞůŝƉƵƚŝ ĂŶŬ <ƵƐƚŽĚŝĂŶ ĚĂŶͬĂƚĂƵ WĞƌƵƐĂŚĂĂŶ ĨĞŬĚĂŶͬĂƚĂƵ ƉŝŚĂŬ ůĂŝŶ LJĂŶŐ
ĚŝƐĞƚƵũƵŝ ŽůĞŚ <^ / ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ ƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ Ěŝ ďŝĚĂŶŐ
WĂƐĂƌDŽĚĂů͘
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“Pemeringkat” ͗ ĞƌĂƌƚŝ Wd WĞŵĞƌŝŶŐŬĂƚ ĨĞŬ /ŶĚŽŶĞƐŝĂ ;W &/EKͿ͕ ďĞƌŬĞĚƵĚƵŬĂŶ Ěŝ :ĂŬĂƌƚĂ
^ĞůĂƚĂŶ͘
“Penawaran Umum” ͗ ĞƌĂƌƚŝ ŬĞŐŝĂƚĂŶ ƉĞŶĂǁĂƌĂŶ KďůŝŐĂƐŝ LJĂŶŐ ĚŝůĂŬƵŬĂŶ ŽůĞŚ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ
ŵĞŶũƵĂů KďůŝŐĂƐŝŬĞƉĂĚĂ DĂƐLJĂƌĂŬĂƚ ďĞƌĚĂƐĂƌŬĂŶƚĂƚĂ ĐĂƌĂLJĂŶŐ ĚŝĂƚƵƌĚĂůĂŵ
hŶĚĂŶŐͲhŶĚĂŶŐ WĂƐĂƌDŽĚĂůĚĂŶƉĞƌĂƚƵƌĂŶƉĞůĂŬƐĂŶĂĂŶŶLJĂ͘
“Penawaran Umum ͗ ĞƌĂƌƚŝ ŬĞŐŝĂƚĂŶ WĞŶĂǁĂƌĂŶ hŵƵŵ LJĂŶŐ ĚŝůĂŬƵŬĂŶ ƐĞĐĂƌĂ ďĞƌƚĂŚĂƉ ƐĞƐƵĂŝ
Berkelanjutan” ĚĞŶŐĂŶWĞƌĂƚƵƌĂŶK:<EŽ͘ ϯϲͬWK:<͘ϬϰͬϮϬϭϰ͘
“Pengakuan Utang” ͗ ĞƌĂƌƚŝƉĞŶŐĂŬƵĂŶƵƚĂŶŐWĞƌƐĞƌŽĂŶƐĞŚƵďƵŶŐĂŶĚĞŶŐĂŶKďůŝŐĂƐŝ͕ƐĞďĂŐĂŝŵĂŶĂ
ƚĞƌĐĂŶƚƵŵ ĚĂůĂŵ ĂŬƚĂ WĞŶŐĂŬƵĂŶ hƚĂŶŐ KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ /ŶĚŽŵŽďŝů
&ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉdĂŚĂƉ/dĂŚƵŶϮϬϮϱEŽ͘ϳϭƚĂŶŐŐĂů ϭϴ:ƵŶŝ
ϮϬϮϱLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶƵůŝĂdĂƵĨĂŶŝ͕ ^͘,͕͘ EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͘
“Penitipan Kolektif” ͗ ĞƌĂƌƚŝũĂƐĂ ƉĞŶŝƚŝƉĂŶŬŽůĞŬƚŝĨ ĂƚĂƐ ƐĞũƵŵůĂŚ ĞĨĞŬLJĂŶŐĚŝŵŝůŝŬŝ ŽůĞŚůĞďŝŚĚĂƌŝ
ƐĂƚƵƉŝŚĂŬLJĂŶŐŬĞƉĞŶƚŝŶŐĂŶŶLJĂĚŝǁĂŬŝůŝŽůĞŚ<ƵƐƚŽĚŝĂŶƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ
ĚĂůĂŵ hhWϮ^<͘
“WĞŶũĂŵŝŶ ŵŝƐŝ ͗ ĞƌĂƌƚŝ WĞŶũĂŵŝŶ WĞůĂŬƐĂŶĂ ŵŝƐŝ KďůŝŐĂƐŝ LJĂŶŐ ĚĂůĂŵ ŚĂů ŝŶŝ ĂĚĂůĂŚ Wd Z/
Obligasi” ĂŶĂƌĞŬƐĂ ^ĞŬƵƌŝƚĂƐ͕ Wd /D EŝĂŐĂ ^ĞŬƵƌŝƚĂƐ͕ Wd ^ sŝĐŬĞƌƐ ^ĞŬƵƌŝƚĂƐ
/ŶĚŽŶĞƐŝĂ͕ Wd /ŶĚŽ WƌĞŵŝĞƌ^ĞŬƵƌŝƚĂƐ͕ Wd DĂŶĚŝƌŝ ^ĞŬƵƌŝƚĂƐ͕ Wd Z, ^ĞŬƵƌŝƚĂƐ
/ŶĚŽŶĞƐŝĂ ĚĂŶ Wd dƌŝŵĞŐĂŚ ^ĞŬƵƌŝƚĂƐ /ŶĚŽŶĞƐŝĂ dďŬ͕ LJĂŶŐ ŵĞŵďƵĂƚ ŬŽŶƚƌĂŬ
ĚĞŶŐĂŶ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŵĞůĂŬƵŬĂŶ WĞŶĂǁĂƌĂŶ hŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶ ĂƚĂƐ
ŶĂŵĂ WĞƌƐĞƌŽĂŶ͕ LJĂŶŐ ĚŝƚƵŶũƵŬ ŽůĞŚ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ WĞƌũĂŶũŝĂŶ
WĞŶũĂŵŝŶĂŶ ŵŝƐŝ KďůŝŐĂƐŝ͘
“Penjamin Pelaksana ͗ ĞƌĂƌƚŝ ƉŝŚĂŬ LJĂŶŐ ďĞƌƚĂŶŐŐƵŶŐ ũĂǁĂď ĂƚĂƐ ƉĞŶLJĞůĞŶŐŐĂƌĂĂŶ ĚĂŶ
ŵŝsi Obligasi” ƉĞŶĂƚĂůĂŬƐĂŶĂĂŶ WĞŶĂǁĂƌĂŶ hŵƵŵ͕ LJĂŶŐ ĚĂůĂŵ ŚĂů ŝŶŝ ĂĚĂůĂŚ Wd Z/
ĂŶĂƌĞŬƐĂ ^ĞŬƵƌŝƚĂƐ͕ Wd /D EŝĂŐĂ ^ĞŬƵƌŝƚĂƐ͕ Wd ^ sŝĐŬĞƌƐ ^ĞŬƵƌŝƚĂƐ
/ŶĚŽŶĞƐŝĂ͕ Wd /ŶĚŽ WƌĞŵŝĞƌ^ĞŬƵƌŝƚĂƐ͕ Wd DĂŶĚŝƌŝ ^ĞŬƵƌŝƚĂƐ͕ Wd Z, ^ĞŬƵƌŝƚĂƐ
/ŶĚŽŶĞƐŝĂ ĚĂŶ Wd dƌŝŵĞŐĂŚ ^ĞŬƵƌŝƚĂƐ /ŶĚŽŶĞƐŝĂ dďŬ͕ ƐĞƐƵĂŝ ƐLJĂƌĂƚͲƐLJĂƌĂƚ ĚĂŶ
ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶĚĂůĂŵ WĞƌũĂŶũŝĂŶWĞŶũĂŵŝŶĂŶ ŵŝƐŝKďůŝŐĂƐŝ͘
“Peraturan No. IX.A.2” ͗ ĞƌĂƌƚŝWĞƌĂƚƵƌĂŶEŽ͘/y͘͘Ϯ>ĂŵƉŝƌĂŶ<ĞƉƵƚƵƐĂŶ<ĞƚƵĂĂƉĞƉĂŵĚĂŶ><EŽŵŽƌ
<ĞƉͲϭϮϮͬ>ͬϮϬϬϵƚĂŶŐŐĂů ϮϵDĞŝ ϮϬϬϵƚĞŶƚĂŶŐ dĂƚĂ ĂƌĂ WĞŶĚĂĨƚĂƌĂŶ ĂůĂŵ
ZĂŶŐŬĂWĞŶĂǁĂƌĂŶhŵƵŵ͘
“Peraturan OJK No. ͗ ĞƌĂƌƚŝ WĞƌĂƚƵƌĂŶ KƚŽƌŝƚĂƐ :ĂƐĂ <ĞƵĂŶŐĂŶ EŽ͘ ϳͬWK:<͘ϬϰͬϮϬϭϳ ƚĂŶŐŐĂů
7/2017” ϭϰ ;DĂƌĞƚ ϮϬϭϳ ƚĞŶƚĂŶŐ ŽŬƵŵĞŶ WĞƌŶLJĂƚĂĂŶ WĞŶĚĂĨƚĂƌĂŶ ĂůĂŵ ZĂŶŐŬĂ
WĞŶĂǁĂƌĂŶhŵƵŵ ĨĞŬĞƌƐŝĨĂƚ ŬƵŝƚĂƐ͕ ĨĞŬĞƌƐŝĨĂƚhƚĂŶŐ͕ ĚĂŶͬĂƚĂƵ ^ƵŬƵŬ͘
“Peraturan OJK No. ͗ ĞƌĂƌƚŝ WĞƌĂƚƵƌĂŶ KƚŽƌŝƚĂƐ :ĂƐĂ <ĞƵĂŶŐĂŶ EŽ͘ ϵͬWK:<͘ϬϰͬϮϬϭϳ ƚĂŶŐŐĂů
9/2017” ϭϰ ;DĂƌĞƚ ϮϬϭϳ ƚĞŶƚĂŶŐ ĞŶƚƵŬ ĚĂŶ /Ɛŝ WƌŽƐƉĞŬƚƵƐ ĚĂŶ WƌŽƐƉĞŬƚƵƐ ZŝŶŐŬĂƐ
ĂůĂŵ ZĂŶŐŬĂWĞŶĂǁĂƌĂŶhŵƵŵ ĨĞŬĞƌƐŝĨĂƚhƚĂŶŐ͘
“Peraturan OJK No. ͗ ĞƌĂƌƚŝWĞƌĂƚƵƌĂŶKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶEŽ͘ ϭϵͬWK:<͘ϬϰͬϮϬϮϬƚĂŶŐŐĂůϮϮƉƌŝů
19/2020” ϮϬϮϬƚĞŶƚĂŶŐĂŶŬhŵƵŵ LJĂŶŐDĞůĂŬƵŬĂŶ<ĞŐŝĂƚĂŶ^ĞďĂŐĂŝtĂůŝŵĂŶĂƚ͘
“Peraturan OJK No. ͗ ĞƌĂƌƚŝWĞƌĂƚƵƌĂŶKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶEŽ͘ϮϬͬWK:<͘ϬϰͬϮϬϮϬƚĂŶŐŐĂůϮϯƉƌŝů
20/2020” ϮϬϮϬƚĞŶƚĂŶŐ<ŽŶƚƌĂŬWĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĨĞŬĞƌƐŝĨĂƚhƚĂŶŐ ĚĂŶͬĂƚĂƵ^ƵŬƵŬ͘
“Peraturan OJK No. ͗ ĞƌĂƌƚŝ WĞƌĂƚƵƌĂŶ KƚŽƌŝƚĂƐ :ĂƐĂ <ĞƵĂŶŐĂŶ EŽ͘ ϯϬͬWK:<͘ϬϰͬϮϬϭϱ ƚĂŶŐŐĂů
30/2015” ĞƐĞŵďĞƌϮϬϭϱƚĞŶƚĂŶŐ >ĂƉŽƌĂŶZĞĂůŝƐĂƐŝ WĞŶŐŐƵŶĂĂŶ ĂŶĂ ,ĂƐŝů WĞŶĂǁĂƌĂŶ
hŵƵŵ͘
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“Peraturan OJK No. ͗ ĞƌĂƌƚŝ WĞƌĂƚƵƌĂŶ KƚŽƌŝƚĂƐ :ĂƐĂ <ĞƵĂŶŐĂŶ EŽ͘ ϯϱͬWK:<͘ϬϰͬϮϬϭϰ ƚĂŶŐŐĂů
35/2014” ϴ ĞƐĞŵďĞƌ ϮϬϭϰ ƚĞŶƚĂŶŐ ^ĞŬƌĞƚĂƌŝƐ WĞƌƵƐĂŚĂĂŶ ŵŝƚĞŶ ĂƚĂƵ WĞƌƵƐĂŚĂĂŶ
WƵďůŝŬ͘
“Peraturan OJK No. ͗ ĞƌĂƌƚŝ WĞƌĂƚƵƌĂŶ KƚŽƌŝƚĂƐ :ĂƐĂ <ĞƵĂŶŐĂŶ EŽ͘ ϯϲͬWK:<͘ϬϰͬϮϬϭϰ ƚĂŶŐŐĂů
36/2014” ϴĞƐĞŵďĞƌϮϬϭϰƚĞŶƚĂŶŐWĞŶĂǁĂƌĂŶhŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶ ĨĞŬĞƌƐŝĨĂƚhƚĂŶŐ
ĚĂŶͬĂƚĂƵ ^ƵŬƵŬ͘
“Peraturan OJK No. ĞƌĂƌƚŝ WĞƌĂƚƵƌĂŶ KƚŽƌŝƚĂƐ :ĂƐĂ <ĞƵĂŶŐĂŶ EŽ͘ ϰϲͬWK:<͘ϬϰͬϮϬϮϰ ƚĂŶŐŐĂů
46/2024” Ϯϳ ĞƐĞŵďĞƌ ϮϬϮϰ ƚĞŶƚĂŶŐ WĞŶŐĞŵďĂŶŐĂŶ ĚĂŶ WĞŶŐƵĂƚĂŶ WĞƌƵƐĂŚĂĂŶ
WĞŵďŝĂLJĂĂŶ͕ WĞƌƵƐĂŚĂĂŶ WĞŵďŝĂLJĂĂŶ /ŶĨƌĂƐƚƌƵŬƚƵƌ͕ ĚĂŶ WĞƌƵƐĂŚĂĂŶ DŽĚĂů
sĞŶƚƵƌĂ͘
“Peraturan OJK No. ͗ ĞƌĂƌƚŝ WĞƌĂƚƵƌĂŶ KƚŽƌŝƚĂƐ :ĂƐĂ <ĞƵĂŶŐĂŶ EŽ͘ ϰϵͬWK:<͘ϬϰͬϮϬϮϬ ƚĂŶŐŐĂů
49/2020” ϯĞƐĞŵďĞƌϮϬϮϬƚĞŶƚĂŶŐWĞŵĞƌŝŶŐŬĂƚĂŶ ĨĞŬĞƌƐŝĨĂƚhƚĂŶŐ ĂŶͬƚĂƵ ^ƵŬƵŬ͘
“Perjanjian Agen ͗ ĞƌĂƌƚŝƉĞƌũĂŶũŝĂŶĂŶƚĂƌĂ WĞƌƐĞƌŽĂŶĚĂŶ<^ / ƉĞƌŝŚĂůƉĞůĂŬƐĂŶĂĂŶ ƉĞŵďĂLJĂƌĂŶ
Pembayaran” ƵŶŐĂ KďůŝŐĂƐŝ͕ ƉĞůƵŶĂƐĂŶ WŽŬŽŬKďůŝŐĂƐŝƐĞƌƚĂ ĞŶĚĂ;ũŝŬĂĂĚĂͿ ƐĞďĂŐĂŝŵĂŶĂ
ƚĞƌĐĂŶƚƵŵĚĂůĂŵĂŬƚĂWĞƌũĂŶũŝĂŶŐĞŶWĞŵďĂLJĂƌĂŶEŽ͘ϭƚĂŶŐŐĂůϱDĂƌĞƚϮϬϮϱ͕
ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶƵůŝĂdĂƵĨĂŶŝ͕^,͕͘EŽƚĂƌŝƐ Ěŝ:ĂŬĂƌƚĂ͘
“Perjanjian Pendaftaran ͗ ĞƌĂƌƚŝ ƉĞƌũĂŶũŝĂŶ LJĂŶŐ ĚŝďƵĂƚ ĚŝďĂǁĂŚ ƚĂŶŐĂŶ ĚĂŶ ďĞƌŵĞƚĞƌĂŝ ĐƵŬƵƉ ŽůĞŚ
Obligasi di KSEI” WĞƌƐĞƌŽĂŶĚĂŶ<^ /ƚĂŶŐŐĂůEŽ͘^WͲϬϬϴͬK>ͬ<^ /ͬϬϭϮϱƚĂŶŐŐĂů ϱDĂƌĞƚϮϬϮϱ͘
“Perjanjian Penjaminan ͗ ĞƌĂƌƚŝ WĞƌũĂŶũŝĂŶ WĞŶũĂŵŝŶĂŶ ŵŝƐŝ KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ /ŶĚŽŵŽďŝů
Emisi Obligasi” &ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉdĂŚĂƉ/dĂŚƵŶϮϬϮϱEŽ͘ϰƚĂŶŐŐĂůϲDĂƌĞƚ
ϮϬϮϱƐĞďĂŐĂŝŵĂŶĂ ĚŝƵďĂŚ ĚĞŶŐĂŶ ĚĚĞŶĚƵŵ / WĞƌũĂŶũŝĂŶ WĞŶũĂŵŝŶĂŶ ŵŝƐŝ
KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs//ŶĚŽŵŽďŝů&ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚ ƵŶŐĂdĞƚĂƉdĂŚĂƉ
/ dĂŚƵŶ ϮϬϮϱEŽ͘ ϯϮƚĂŶŐŐĂů ϭϰƉƌŝů ϮϬϮϱĚĂŶ ĚŝƵďĂŚ ĚĞŶŐĂŶ ĚĚĞŶĚƵŵ //
WĞƌũĂŶũŝĂŶ WĞŶũĂŵŝŶĂŶ ŵŝƐŝ KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ
ĞŶŐĂŶdŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉdĂŚĂƉ /dĂŚƵŶϮϬϮϱEŽ͘ ϳϬƚĂŶŐŐĂů ϭϴ:ƵŶŝϮϬϮϱ
LJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶƵůŝĂdĂƵĨĂŶŝ͕ ^͘,͕͘ EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͘
“Perjanjian ͗ ĞƌĂƌƚŝ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ /ŶĚŽŵŽďŝů
Perwaliamanatan” &ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚ ƵŶŐĂdĞƚĂƉdĂŚĂƉ/dĂŚƵŶϮϬϮϱ͕EŽ͘ϯƚĂŶŐŐĂů ϲDĂƌĞƚ
ϮϬϮϱ ƐĞďĂŐĂŝŵĂŶĂ ĚŝƵďĂŚ ĚĞŶŐĂŶ ĚĚĞŶĚƵŵ / WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ
KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs//ŶĚŽŵŽďŝů&ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚ ƵŶŐĂdĞƚĂƉdĂŚĂƉ
/ dĂŚƵŶ ϮϬϮϱEŽ͘ ϯϭƚĂŶŐŐĂů ϭϰƉƌŝů ϮϬϮϱĚĂŶ ĚŝƵďĂŚ ĚĞŶŐĂŶ ĚĚĞŶĚƵŵ //
WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĞƌŬĞůĂŶũƵƚĂŶ s/ /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ĞŶŐĂŶ
dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ / dĂŚƵŶ ϮϬϮϱEŽ͘ ϲϵ ƚĂŶŐŐĂů ϭϴ:ƵŶŝ ϮϬϮϱ LJĂŶŐ
ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶƵůŝĂdĂƵĨĂŶŝ͕^͘,͕͘ EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͘
“Pernyataan Penawaran ͗ ĞƌĂƌƚŝWĞƌŶLJĂƚĂĂŶWĞŶĂǁĂƌĂŶ hŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶ KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ s/
Umum Berkelanjutan” /ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉEŽ͘ϱƚĂŶŐŐĂůϲDĂƌĞƚ
ϮϬϮϱƐĞďĂŐĂŝŵĂŶĂ ĚŝƵďĂŚĚĞŶŐĂŶĚĚĞŶĚƵŵ/WĞƌŶLJĂƚĂĂŶWĞŶĂǁĂƌĂŶ hŵƵŵ
ĞƌŬĞůĂŶũƵƚĂŶ KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ
dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ EŽ͘ ϯϬ ƚĂŶŐŐĂů ϭϰ Ɖƌŝů ϮϬϮϱ ĚĂŶ ĚŝƵďĂŚ ĚĞŶŐĂŶ
ĚĚĞŶĚƵŵ // WĞƌŶLJĂƚĂĂŶ WĞŶĂǁĂƌĂŶ hŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶ KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶs//ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂĞŶŐĂŶdŝŶŐŬĂƚ ƵŶŐĂdĞƚĂƉEŽ͘
ϲϴƚĂŶŐŐĂůϭϴ:ƵŶŝϮϬϮϱLJĂŶŐĚŝďƵĂƚŽůĞŚWĞƌƐĞƌŽĂŶ͘
“Pernyataan ͗ ĞƌĂƌƚŝƉĞƌŶLJĂƚĂĂŶƉĞŶĚĂĨƚĂƌĂŶƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚĚĂůĂŵWĂƐĂůϭŶŐŬĂϭϴ
Pendaftaran” hhWϮ^< ũƵŶĐƚŽ WĞƌĂƚƵƌĂŶ K:< EŽ͘ ϳͬϮϬϭϳ ďĞƌŝŬƵƚ ĚŽŬƵŵĞŶͲĚŽŬƵŵĞŶ LJĂŶŐ
ĚŝĂũƵŬĂŶ ŽůĞŚ WĞƌƐĞƌŽĂŶŬĞƉĂĚĂ K:< ƐĞďĞůƵŵ ŵĞůĂŬƵŬĂŶ WĞŶĂǁĂƌĂŶ hŵƵŵ
ŬĞƉĂĚĂDĂƐLJĂƌĂŬĂƚ͘
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PT INDOMOBIL FINANCE INDONESIA
“Pernyataan ĞƌĂƌƚŝ ƚĞƌƉĞŶƵŚŝŶLJĂ ƐĞůƵƌƵŚ ƉĞƌƐLJĂƌĂƚĂŶ WĞƌŶLJĂƚĂĂŶ WĞŶĚĂĨƚĂƌĂŶ ƐĞƐƵĂŝ
WĞŶĚĂĨƚĂƌĂŶ DĞŶũĂĚŝ ĚĞŶŐĂŶhhWϮ^<͕ LJĂŝƚƵ ;ŝͿ ƉĂĚĂ,Ăƌŝ <ĞƌũĂŬĞͲϮϬƐĞũĂŬĚŝƚĞƌŝŵĂŶLJĂ WĞƌŶLJĂƚĂĂŶ
Efektif” WĞŶĚĂĨƚĂƌĂŶ ƐĞĐĂƌĂůĞŶŐŬĂƉĂƚĂƵ ƉĂĚĂƚĂŶŐŐĂů LJĂŶŐůĞďŝŚĂǁĂů ũŝŬĂ ĚŝŶLJĂƚĂŬĂŶ
ŽůĞŚ K:<͖ ĂƚĂƵ ;ŝŝͿ ĚĂůĂŵ ŚĂů K:< ŵĞŵŝŶƚĂ ƉĞƌƵďĂŚĂŶ ĚĂŶͬĂƚĂƵ ƚĂŵďĂŚĂŶ
ŝŶĨŽƌŵĂƐŝ ĚĂƌŝ WĞƌƐĞƌŽĂŶĚĂůĂŵ ũĂŶŐŬĂ ǁĂŬƚƵ ϮϬ,Ăƌŝ <ĞƌũĂƚĞƌƐĞďƵƚ Ěŝ ĂƚĂƐ͕
ŵĂŬĂ ƉĞŶŐŚŝƚƵŶŐĂŶ ǁĂŬƚƵ ƵŶƚƵŬ ĞĨĞŬƚŝĨŶLJĂWĞƌŶLJĂƚĂĂŶ WĞŶĚĂĨƚĂƌĂŶ ĚŝŚŝƚƵŶŐ
ƐĞũĂŬƚĂŶŐŐĂůĚŝƚĞƌŝŵĂŶLJĂ ƉĞƌƵďĂŚĂŶĚĂŶͬĂƚĂƵ ƚĂŵďĂŚĂŶ ŝŶĨŽƌŵĂƐŝĚŝŵĂŬƐƵĚ͘
“Perseroan” ͗ ĞƌĂƌƚŝ ƉŝŚĂŬ LJĂŶŐ ŵĞůĂŬƵŬĂŶ ŵŝƐŝ KďůŝŐĂƐŝ͕ LJĂŶŐ ĚĂůĂŵ ŚĂů ŝŶŝ ƉĞƌƐĞƌŽĂŶ
ƚĞƌďĂƚĂƐWd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ͕ďĞƌŬĞĚƵĚƵŬĂŶĚŝ:ĂŬĂƌƚĂ dŝŵƵƌ͘
“Persetujuan Prinsip ĞƌĂƌƚŝ ƐƵƌĂƚ ƉĞƌƐĞƚƵũƵĂŶ ƉƌŝŶƐŝƉ LJĂŶŐ ĂŬĂŶ ĚŝƚĞƌďŝƚŬĂŶ ŽůĞŚ Wd ƵƌƐĂ ĨĞŬ
WĞŶĐĂƚĂƚĂŶ ĨĞŬĞƌƐŝĨĂƚ /ŶĚŽŶĞƐŝĂ ƐĞďĞůƵŵ WĞƌŶLJĂƚĂĂŶ WĞŶĚĂĨƚĂƌĂŶ DĞŶũĂĚŝ ĨĞŬƚŝĨ͕ ƐĞŚƵďƵŶŐĂŶ
Utang” ĚĞŶŐĂŶ ƉĞƌŵŽŚŽŶĂŶ ƉĞŶĐĂƚĂƚĂŶ KďůŝŐĂƐŝ ƉĂĚĂ Wd ƵƌƐĂ ĨĞŬ /ŶĚŽŶĞƐŝĂ
ƚĞƌŚĂĚĂƉKďůŝŐĂƐŝ͘
“Perusahaan Efek” ͗ ĞƌĂƌƚŝ ƉŝŚĂŬ LJĂŶŐ ŵĞůĂŬƵŬĂŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ƐĞďĂŐĂŝ WĞŶũĂŵŝŶ ŵŝƐŝ ĨĞŬ͕
WĞƌĂŶƚĂƌĂ WĞĚĂŐĂŶŐ ĨĞŬ ĚĂŶͬĂƚĂƵ DĂŶĂũĞƌ /ŶǀĞƐƚĂƐŝ ƐĞďĂŐĂŝŵĂŶĂ LJĂŶŐ
ĚŝƚĞŶƚƵŬĂŶĚĂůĂŵ hŶĚĂŶŐͲhŶĚĂŶŐ WĂƐĂƌDŽĚĂů͘
“Piutang” ͗ ĞƌĂƌƚŝ ƚĂŐŝŚĂŶ LJĂŶŐ ƚŝŵďƵů ĚĂƌŝ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ WĞƌƐĞƌŽĂŶ͕ ƐĞƐƵĂŝ ĚĞŶŐĂŶ
ĂŶŐŐĂƌĂŶĚĂƐĂƌWĞƌƐĞƌŽĂŶ͕LJĂŶŐďĞůƵŵũĂƚƵŚƚĞŵƉŽĚĂŶLJĂŶŐƚĞůĂŚũĂƚƵŚƚĞŵƉŽ
ŶĂŵƵŶ ďĞůƵŵ ĚŝďĂLJĂƌ ĚĂůĂŵ ǁĂŬƚƵ ϵϬ ;ƐĞŵďŝůĂŶ ƉƵůƵŚͿ ,Ăƌŝ <ĂůĞŶĚĞƌĚĂƌŝ
ƚĂŶŐŐĂů ũĂƚƵŚƚĞŵƉŽĂŶŐƐƵƌĂŶŵĂƐŝŶŐͲŵĂƐŝŶŐ ƉŝƵƚĂŶŐƚĞƌƐĞďƵƚ͘
“Pokok Obligasi” ͗ ĞƌĂƌƚŝ ũƵŵůĂŚ ƉŽŬŽŬ ƉŝŶũĂŵĂŶ WĞƌƐĞƌŽĂŶ ŬĞƉĂĚĂ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ
ďĞƌĚĂƐĂƌŬĂŶ KďůŝŐĂƐŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĚĂŶ ĚŝƚĞƌďŝƚŬĂŶ ŵĞůĂůƵŝ WĞŶĂǁĂƌĂŶ
hŵƵŵ LJĂŶŐ ƚĞƌŚƵƚĂŶŐ ĚĂƌŝ ǁĂŬƚƵ ŬĞ ǁĂŬƚƵ ĚĂůĂŵ ũƵŵůĂŚ ƉŽŬŽŬ ƐĞďĞƐĂƌ
ZƉϭ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƐĂƚƵƚƌŝůŝƵŶZƵƉŝĂŚͿLJĂŶŐƚĞƌĚŝƌŝĚĂƌŝ͗
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ
ZƉϱϮϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ůŝŵĂ ƌĂƚƵƐ ĚƵĂ ƉƵůƵŚ ŵŝůŝĂƌ ZƵƉŝĂŚͿ
ĚĞŶŐĂŶƚŝŶŐŬĂƚ ďƵŶŐĂƚĞƚĂƉKďůŝŐĂƐŝƐĞďĞƐĂƌϲ͕ϰϱй;ĞŶĂŵŬŽŵĂ
ĞŵƉĂƚ ůŝŵĂ ƉĞƌƐĞŶͿ͘ :ĂŶŐŬĂ ǁĂŬƚƵ KďůŝŐĂƐŝ ^Ğƌŝ ĂĚĂůĂŚ ϯϳϬ
;ƚŝŐĂ ƌĂƚƵƐ ƚƵũƵŚ ƉƵůƵŚͿ ,Ăƌŝ <ĂůĞŶĚĞƌƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ dĂŶŐŐĂů
ŵŝƐŝ͘ WĞŵďĂLJĂƌĂŶ KďůŝŐĂƐŝ ĚŝůĂŬƵŬĂŶ ƐĞĐĂƌĂ ƉĞŶƵŚ ;ďƵůůĞƚ
ƉĂLJŵĞŶƚͿ ƐĞďĞƐĂƌ ϭϬϬй ;ƐĞƌĂƚƵƐ ƉĞƌƐĞŶͿ ĚĂƌŝ :ƵŵůĂŚ WŽŬŽŬ
KďůŝŐĂƐŝ^ĞƌŝƉĂĚĂƐĂĂƚũĂƚƵŚ ƚĞŵƉŽKďůŝŐĂƐŝ^Ğƌŝ͘
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ
ZƉϴϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ĚĞůĂƉĂŶ ƉƵůƵŚ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĚĞŶŐĂŶ
ƚŝŶŐŬĂƚďƵŶŐĂƚĞƚĂƉKďůŝŐĂƐŝƐĞďĞƐĂƌϲ͕ϴϱй;ĞŶĂŵŬŽŵĂĚĞůĂƉĂŶ
ůŝŵĂ ƉĞƌƐĞŶͿ͘:ĂŶŐŬĂǁĂŬƚƵ KďůŝŐĂƐŝ ^ĞƌŝĂĚĂůĂŚ ϯ;ƚŝŐĂͿ ƚĂŚƵŶ
ƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ dĂŶŐŐĂů ŵŝƐŝ͘ WĞŵďĂLJĂƌĂŶ KďůŝŐĂƐŝ ĚŝůĂŬƵŬĂŶ
ƐĞĐĂƌĂ ƉĞŶƵŚ;ďƵůůĞƚ ƉĂLJŵĞŶƚͿ ƐĞďĞƐĂƌ ϭϬϬй;ƐĞƌĂƚƵƐ ƉĞƌƐĞŶͿ
ĚĂƌŝ:ƵŵůĂŚWŽŬŽŬKďůŝŐĂƐŝ^ĞƌŝƉĂĚĂƐĂĂƚũĂƚƵŚƚĞŵƉŽKďůŝŐĂƐŝ
^Ğƌŝ͘
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ
ZƉϰϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ĞŵƉĂƚƌĂƚƵƐŵŝůŝĂƌZƵƉŝĂŚͿĚĞŶŐĂŶƚŝŶŐŬĂƚ
ďƵŶŐĂ ƚĞƚĂƉ KďůŝŐĂƐŝ ƐĞďĞƐĂƌ ϳ͕ϭϬй ;ƚƵũƵŚ ŬŽŵĂ ƐĂƚƵ ŶŽů
ƉĞƌƐĞŶͿ͘ :ĂŶŐŬĂ ǁĂŬƚƵ KďůŝŐĂƐŝ ^Ğƌŝ ĂĚĂůĂŚ ϱ ;ůŝŵĂͿ ƚĂŚƵŶ
ƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ dĂŶŐŐĂů ŵŝƐŝ͘ WĞŵďĂLJĂƌĂŶ KďůŝŐĂƐŝ ĚŝůĂŬƵŬĂŶ
ƐĞĐĂƌĂ ƉĞŶƵŚ;ďƵůůĞƚ ƉĂLJŵĞŶƚͿ ƐĞďĞƐĂƌϭϬϬй ;ƐĞƌĂƚƵƐ ƉĞƌƐĞŶͿ
ĚĂƌŝ:ƵŵůĂŚWŽŬŽŬKďůŝŐĂƐŝ^ĞƌŝƉĂĚĂƐĂĂƚũĂƚƵŚƚĞŵƉŽKďůŝŐĂƐŝ
^Ğƌŝ͘
:ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ƚĞƌƐĞďƵƚ ĚĂƉĂƚ ďĞƌŬƵƌĂŶŐ ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ
ƉĞůƵŶĂƐĂŶ WŽŬŽŬ KďůŝŐĂƐŝ ĚĂƌŝ ŵĂƐŝŶŐͲŵĂƐŝŶŐ ƐĞƌŝ KďůŝŐĂƐŝ ĚĂŶͬĂƚĂƵ ŬĂƌĞŶĂ
ƉĞŵďĞůŝĂŶŬĞŵďĂůŝƐĞďĂŐĂŝƉĞůƵŶĂƐĂŶKďůŝŐĂƐŝƐĞďĂŐĂŝŵĂŶĂ ĚŝďƵŬƚŝŬĂŶĚĞŶŐĂŶ
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^ĞƌƚŝĨŝŬĂƚ :ƵŵďŽ KďůŝŐĂƐŝ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ ƐLJĂƌĂƚͲƐLJĂƌĂƚ ƐĞďĂŐĂŝŵĂŶĂ
ĚŝƵƌĂŝŬĂŶĚĂůĂŵWĂƐĂůϱWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘
“Rekening Efek” ͗ ĞƌĂƌƚŝ ƌĞŬĞŶŝŶŐ LJĂŶŐ ŵĞŵƵĂƚ ĐĂƚĂƚĂŶ ƉŽƐŝƐŝ KďůŝŐĂƐŝ ĚĂŶͬĂƚĂƵ ĚĂŶĂ ŵŝůŝŬ
WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ LJĂŶŐ ĚŝĂĚŵŝŶŝƐƚƌĂƐŝŬĂŶ ŽůĞŚ <^ /͕ ĂŶŬ <ƵƐƚŽĚŝĂŶ ĂƚĂƵ
WĞƌƵƐĂŚĂĂŶ ĨĞŬ ďĞƌĚĂƐĂƌŬĂŶ ŬŽŶƚƌĂŬ ƉĞŵďƵŬĂĂŶ ƌĞŬĞŶŝŶŐ ĞĨĞŬ LJĂŶŐ
ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ĚĞŶŐĂŶWĞŵĞŐĂŶŐKďůŝŐĂƐŝ͘
“RUPO” ͗ ĞƌĂƌƚŝZĂƉĂƚ hŵƵŵ WĞŵĞŐĂŶŐKďůŝŐĂƐŝ͘
“Satuan ͗ ĞƌĂƌƚŝƐĂƚƵĂŶ ũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐĚĂƉĂƚ ĚŝƉŝŶĚĂŚďƵŬƵŬĂŶĚĂƌŝƐĂƚƵ ZĞŬĞŶŝŶŐ
Pemindahbukuan” ĨĞŬŬĞZĞŬĞŶŝŶŐ ĨĞŬůĂŝŶŶLJĂ͕LJĂŝƚƵƐĞŶŝůĂŝZƉϭ;ƐĂƚƵZƵƉŝĂŚͿĂƚĂƵŬĞůŝƉĂƚĂŶŶLJĂ͘
“Sertifikat Jumbo ͗ ĞƌĂƌƚŝ ďƵŬƚŝ ƉĞŶĞƌďŝƚĂŶ KďůŝŐĂƐŝ ŵĂƐŝŶŐͲŵĂƐŝŶŐ ƐĞƌŝ LJĂŶŐ ĚŝƐŝŵƉĂŶ ĚĂůĂŵ
Obligasi” WĞŶŝƚŝƉĂŶ <ŽůĞŬƚŝĨ Ěŝ <^ / LJĂŶŐ ĚŝƚĞƌďŝƚŬĂŶ ŽůĞŚ WĞƌƐĞƌŽĂŶ͕ ĂƚĂƐ ŶĂŵĂ ĂƚĂƵ
ƚĞƌĐĂƚĂƚ ĂƚĂƐ ŶĂŵĂ <^ /ƵŶƚƵŬŬĞƉĞŶƚŝŶŐĂŶWĞŵĞŐĂŶŐ KďůŝŐĂƐŝŵĂƐŝŶŐͲŵĂƐŝŶŐ
ƚĂŚĂƉŵĞůĂůƵŝWĞŵĞŐĂŶŐZĞŬĞŶŝŶŐ͘
“Tanggal Emisi” ͗ ĞƌĂƌƚŝƚĂŶŐŐĂů ĚŝƐƚƌŝďƵƐŝ KďůŝŐĂƐŝ ŬĞĚĂůĂŵ ZĞŬĞŶŝŶŐ ĨĞŬWĞŶũĂŵŝŶWĞůĂŬƐĂŶĂ
ŵŝƐŝ KďůŝŐĂƐŝďĞƌĚĂƐĂƌŬĂŶƉĞŶLJĞƌĂŚĂŶ^ĞƌƚŝĨŝŬĂƚ:ƵŵďŽKďůŝŐĂƐŝLJĂŶŐĚŝƚĞƌŝŵĂ
ŽůĞŚ<^ /ĚĂƌŝWĞƌƐĞƌŽĂŶ͕LJĂŶŐũƵŐĂŵĞƌƵƉĂŬĂŶdĂŶŐŐĂů WĞŵďĂLJĂƌĂŶŚĂƐŝůĞŵŝƐŝ
KďůŝŐĂƐŝĚĂƌŝWĞŶũĂŵŝŶWĞůĂŬƐĂŶĂ ŵŝƐŝ KďůŝŐĂƐŝŬĞƉĂĚĂWĞƌƐĞƌŽĂŶLJĂŝƚƵƚĂŶŐŐĂů
ϯ:ƵůŝϮϬϮϱ͘
“Tanggal Pelunasan ͗ ĞƌĂƌƚŝƚĂŶŐŐĂůͲƚĂŶŐŐĂů ũĂƚƵŚƚĞŵƉŽĚĂƌŝŵĂƐŝŶŐͲŵĂƐŝŶŐ ƐĞƌŝKďůŝŐĂƐŝLJĂŶŐǁĂũŝď
Pokok Obligasi” ĚŝďĂLJĂƌ ŽůĞŚWĞƌƐĞƌŽĂŶŵĞůĂůƵŝ ŐĞŶWĞŵďĂLJĂƌĂŶ ŬĞƉĂĚĂ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ
ďĞƌĚĂƐĂƌŬĂŶ ĂĨƚĂƌ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ ŬĞƚĞŶƚƵĂŶ
WĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘ dĂŶŐŐĂů WĞůƵŶĂƐĂŶ WŽŬŽŬKďůŝŐĂƐŝ ĂĚĂůĂŚ ƚĂŶŐŐĂů
ϭϯ:Ƶůŝ ϮϬϮϲƵŶƚƵŬKďůŝŐĂƐŝ ^Ğƌŝ͕ ϯ:ƵůŝϮϬϮϴƵŶƚƵŬKďůŝŐĂƐŝ^Ğƌŝ͕ĚĂŶ ϯ:Ƶůŝ
ϮϬϯϬƵŶƚƵŬKďůŝŐĂƐŝ^Ğƌŝ͘
“Tanggal Pembayaran ͗ ĞƌĂƌƚŝ ƚĂŶŐŐĂů ƐĂĂƚ ŵĂŶĂ ƵŶŐĂ KďůŝŐĂƐŝ ŵĞŶũĂĚŝ ũĂƚƵŚ ƚĞŵƉŽ ĚĂŶ ǁĂũŝď
Bunga Obligasi” ĚŝďĂLJĂƌ ŬĞƉĂĚĂ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ͕ LJĂŶŐ ŶĂŵĂŶLJĂ ƚĞƌĐĂŶƚƵŵ ĚĂůĂŵ ĂĨƚĂƌ
WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ͕ ŵĞůĂůƵŝ ŐĞŶWĞŵďĂLJĂƌĂŶ ĚĂŶ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ
ŬĞƚĞŶƚƵĂŶ WĂƐĂů ϱ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘ dĂŶŐŐĂů WĞŵďĂLJĂƌĂŶ ƵŶŐĂ
KďůŝŐĂƐŝƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ƵŶŐĂ ŬĞ͗ ^Ğƌŝ ^Ğƌŝ ^Ğƌŝ
ϭ ϯKŬƚŽďĞƌϮϬϮϱ ϯKŬƚŽďĞƌϮϬϮϱ ϯKŬƚŽďĞƌϮϬϮϱ
Ϯ ϯ:ĂŶƵĂƌŝϮϬϮϲ ϯ:ĂŶƵĂƌŝϮϬϮϲ ϯ:ĂŶƵĂƌŝϮϬϮϲ
ϯ ϯƉƌŝůϮϬϮϲ ϯƉƌŝůϮϬϮϲ ϯƉƌŝůϮϬϮϲ
ϰ ϭϯ:ƵůŝϮϬϮϲ ϯ:ƵůŝϮϬϮϲ ϯ:ƵůŝϮϬϮϲ
ϱ ϯKŬƚŽďĞƌϮϬϮϲ ϯKŬƚŽďĞƌϮϬϮϲ
ϲ ϯ:ĂŶƵĂƌŝϮϬϮϳ ϯ:ĂŶƵĂƌŝϮϬϮϳ
ϳ ϯƉƌŝůϮϬϮϳ ϯƉƌŝůϮϬϮϳ
ϴ ϯ:ƵůŝϮϬϮϳ ϯ:ƵůŝϮϬϮϳ
ϵ ϯKŬƚŽďĞƌϮϬϮϳ ϯKŬƚŽďĞƌϮϬϮϳ
ϭϬ ϯ:ĂŶƵĂƌŝϮϬϮϴ ϯ:ĂŶƵĂƌŝϮϬϮϴ
ϭϭ ϯƉƌŝůϮϬϮϴ ϯƉƌŝůϮϬϮϴ
ϭϮ ϯ:ƵůŝϮϬϮϴ ϯ:ƵůŝϮϬϮϴ
ϭϯ ϯKŬƚŽďĞƌϮϬϮϴ
ϭϰ ϯ:ĂŶƵĂƌŝϮϬϮϵ
ϭϱ ϯƉƌŝůϮϬϮϵ
ϭϲ ϯ:ƵůŝϮϬϮϵ
ϭϳ ϯKŬƚŽďĞƌϮϬϮϵ
ϭϴ ϯ:ĂŶƵĂƌŝϮϬϯϬ
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ϭϵ ϯƉƌŝůϮϬϯϬ
ϮϬ ϯ:ƵůŝϮϬϯϬ
“Tanggal Penjatahan” ͗ ĞƌĂƌƚŝƚĂŶŐŐĂů ĚŝůĂŬƵŬĂŶŶLJĂ ƉĞŶũĂƚĂŚĂŶKďůŝŐĂƐŝLJĂŝƚƵƚĂŶŐŐĂů ϭ:ƵůŝϮϬϮϱ͘
“UndangͲhŶĚĂŶŐ WĂƐĂƌ ͗ hŶĚĂŶŐ hŶĚĂŶŐ ZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ EŽ͘ ϴ dĂŚƵŶ ϭϵϵϱƚĂŶŐŐĂů ϭϬEŽǀĞŵďĞƌ
Modal (UUPM)” ϭϵϵϱ ƚĞŶƚĂŶŐ WĂƐĂƌ DŽĚĂů ƐĞďĂŐĂŝŵĂŶĂ ĚŝƵďĂŚ ƐĞďĂŐŝĂŶ ĚĞŶŐĂŶ hh
EŽ͘ϰͬϮϬϮϯ͘
“UndangͲhŶĚĂŶŐ EŽ͘ ͗ ĞƌĂƌƚŝ hŶĚĂŶŐͲhŶĚĂŶŐ EŽ͘ ϰ dĂŚƵŶ ϮϬϮϯ ƚĂŶŐŐĂů ϭϮ :ĂŶƵĂƌŝ ϮϬϮϯƚĞŶƚĂŶŐ
4/2023 atau UUP2SK” WĞŶŐĞŵďĂŶŐĂŶ ĚĂŶ WĞŶŐƵĂƚĂŶ ^ĞŬƚŽƌ<ĞƵĂŶŐĂŶ͕ >ĞŵďĂƌĂŶ EĞŐĂƌĂ ZĞƉƵďůŝŬ
/ŶĚŽŶĞƐŝĂEŽ͘ϰdĂŚƵŶϮϬϮϯ͘
“Utang” ͗ ĞƌĂƌƚŝ ƐĞŵƵĂ ƵƚĂŶŐ LJĂŶŐ ďĞƌďƵŶŐĂ͕ ƚĞƌŵĂƐƵŬ ƵƚĂŶŐ ďĂŶŬ͕ ƵƚĂŶŐ ƐĞǁĂ ŐƵŶĂ
ƵƐĂŚĂ͕ ƵƚĂŶŐ ĞĨĞŬŬŽŶǀĞƌƐŝĚĂŶŝŶƐƚƌƵŵĞŶƚ ƉŝŶũĂŵĂŶ ůĂŝŶŶLJĂ͕ ƵƚĂŶŐWĞƌƐĞƌŽĂŶ
ĚĂŶŶĂŬWĞƌƵƐĂŚĂĂŶ;ũŝŬĂĂĚĂͿĂƚĂƵƉŝŚĂŬůĂŝŶŶLJĂLJĂŶŐĚŝũĂŵŝŶĚĞŶŐĂŶĂŐƵŶĂŶ
ĂƚĂƵ ŐĂĚĂŝ ĂƚĂƐ ĂŬƚŝǀĂ WĞƌƐĞƌŽĂŶĚĂŶͬĂƚĂƵ ŶĂŬWĞƌƵƐĂŚĂĂŶ ;ũŝŬĂ ĂĚĂͿ͕ ƵƚĂŶŐ
ƉŝŚĂŬ ůĂŝŶ ĚŝůƵĂƌ ŶĂŬ WĞƌƵƐĂŚĂĂŶ ;ũŝŬĂ ĂĚĂͿ LJĂŶŐ ĚŝũĂŵŝŶ ŽůĞŚ WĞƌƐĞƌŽĂŶ
ĚĂŶͬĂƚĂƵ ŶĂŬWĞƌƵƐĂŚĂĂŶ;ũŝŬĂ ĂĚĂͿ͕ŬĞǁĂũŝďĂŶ ƚĂŶƉĂƐLJĂƌĂƚ ;ŶŽŶͲĐŽŶƚŝŶŐĞŶƚͿ
ŬĞƉĂĚĂďĂŶŬƐĞŚƵďƵŶŐĂŶĚĞŶŐĂŶƉĞŵďĂLJĂƌĂŶƵŶƚƵŬ>ĞƚƚĞƌ ŽĨƌĞĚŝƚ;>ͬͿĂƚĂƵ
ŝŶƐƚƌƵŵĞŶ ƐĞũĞŶŝƐƚĞƌŵĂƐƵŬ ƉŝŶũĂŵĂŶ LJĂŶŐ ďĞƌĂƐĂů ĚĂƌŝƉĞƌƵƐĂŚĂĂŶ ůĂŝŶ LJĂŶŐ
ĚŝĂŬƵŝƐŝƐŝ ĚĂŶ ŵĞŶũĂĚŝ ŶĂŬWĞƌƵƐĂŚĂĂŶ ;ũŝŬĂ ĂĚĂͿ ĂƚĂƵ ƉĞƌƵƐĂŚĂĂŶ ůĂŝŶ LJĂŶŐ
ŵĞůĞďƵƌŬĞĚĂůĂŵ WĞƌƐĞƌŽĂŶ͕LJĂŶŐ ƚĞƌĐĂŶƚƵŵ ĚĂůĂŵ ůĂƉŽƌĂŶ ƉŽƐŝƐŝ ŬĞƵĂŶŐĂŶ
ŬŽŶƐŽůŝĚĂƐŝ͕ŬĞĐƵĂůŝƵƚĂŶŐĚĂŐĂŶŐ͕ƵĂŶŐŵƵŬĂ͕ƵƚĂŶŐƉĂũĂŬ͕ƵƚĂŶŐĚŝǀŝĚĞŶ͕ďĂŶŬ
ŐĂƌĂŶƐŝĚĂŶ^ƚĂŶĚďLJ>ĞƚƚĞƌ ŽĨƌĞĚŝƚ;>ͬͿ͘
“Wali Amanat” ͗ ĞƌĂƌƚŝ ƉŝŚĂŬ LJĂŶŐ ŵĞǁĂŬŝůŝ ŬĞƉĞŶƚŝŶŐĂŶ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ƐĞďĂŐĂŝŵĂŶĂ
ĚŝŵĂŬƐƵĚ ĚĂůĂŵ hŶĚĂŶŐͲhŶĚĂŶŐ WĂƐĂƌ DŽĚĂů LJĂŶŐ ĚĂůĂŵ ŚĂů ŝŶŝ ĂĚĂůĂŚ
WdĂŶŬDĞŐĂdďŬ͕ďĞƌŬĞĚƵĚƵŬĂŶĚŝ:ĂŬĂƌƚĂ ^ĞůĂƚĂŶ͘
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PT INDOMOBIL FINANCE INDONESIA
Z/E'<^E
ZŝŶŐŬĂƐĂŶ Ěŝ ďĂǁĂŚ ŝŶŝ ŵĞƌƵƉĂŬĂŶ ďĂŐŝĂŶ LJĂŶŐ ƚŝĚĂŬ ƚĞƌƉŝƐĂŚŬĂŶ ĚĂŶ ŚĂƌƵƐ ĚŝďĂĐĂ ĚĂůĂŵ ŬĂŝƚĂŶŶLJĂ ĚĞŶŐĂŶ
ŬĞƚĞƌĂŶŐĂŶ LJĂŶŐůĞďŝŚ ƌŝŶĐŝĚĂŶůĂƉŽƌĂŶŬĞƵĂŶŐĂŶ ƐĞƌƚĂ ĐĂƚĂƚĂŶͲĐĂƚĂƚĂŶ LJĂŶŐƚĞƌĐĂŶƚƵŵ Ěŝ ĚĂůĂŵWƌŽƐƉĞŬƚƵƐŝŶŝ͘
^ĞŵƵĂŝŶĨŽƌŵĂƐŝŬĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶĚŝƐƵƐƵŶĚĂůĂŵŵĂƚĂƵĂŶŐZƵƉŝĂŚĚĂŶƚĞůĂŚƐĞƐƵĂŝĚĞŶŐĂŶ^ƚĂŶĚĂƌŬƵŶƚĂŶƐŝ
<ĞƵĂŶŐĂŶ Ěŝ /ŶĚŽŶĞƐŝĂ͘ ZŝŶŐŬĂƐĂŶ ŝŶŝ ĚŝďƵĂƚ ĂƚĂƐ ĚĂƐĂƌ ĨĂŬƚĂͲĨĂŬƚĂ ĚĂŶ ƉĞƌƚŝŵďĂŶŐĂŶƉĞƌƚŝŵďĂŶŐĂŶ LJĂŶŐ ƉĂůŝŶŐ
ƉĞŶƚŝŶŐďĂŐŝWĞƌƐĞƌŽĂŶ
ϭ͘ < d ZE'E^/E'<dD E' E/W Z^ ZKE
WĞƌƐĞƌŽĂŶ didirikan dengan nama ”Wd INDOMARU MULTI FINANCE” ĚĂŶ ďĞƌŬĞĚƵĚƵŬĂŶ Ěŝ :ĂŬĂƌƚĂ dŝŵƵƌ͕
ďĞƌĚĂƐĂƌŬĂŶŬƚĂWĞƌƐĞƌŽĂŶdĞƌďĂƚĂƐWd/ŶĚŽŵĂƌƵDƵůƚŝ&ŝŶĂŶĐĞEŽ͘ϮƚĂŶŐŐĂůϭEŽƉĞŵďĞƌϭϵϵϯLJĂŶŐĚŝďƵĂƚ
ĚŝŚĂĚĂƉĂŶEƵƌƵů,ŝĚĂũĂƚŝ,ĂŶĚŽŬŽ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂĚĂŶƚĞůĂŚ͗;ŝͿŵĞŶĚĂƉĂƚŬĂŶƉĞŶŐĞƐĂŚĂŶĚĂƌŝDĞŶƚĞƌŝ
<ĞŚĂŬŝŵĂŶ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ďĞƌĚĂƐĂƌŬĂŶ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶŶLJĂ EŽ͘ ϮͲϭϰϯϲϴ͘,d͘Ϭϭ͘Ϭϭ͘d,͘ϵϯ ƚĂŶŐŐĂů
ϮϰĞƐĞŵďĞƌϭϵϵϯ͕;ŝŝͿĚŝĚĂĨƚĂƌŬĂŶƉĂĚĂƚĂŶŐŐĂůϭϭƉƌŝůϭϵϵϰĚĂůĂŵďƵŬƵƌĞŐŝƐƚĞƌƵŶƚƵŬŵĂŬƐƵĚŝƚƵLJĂŶŐďĞƌĂĚĂ
ĚŝWE:ĂŬĂƌƚĂdŝŵƵƌĚŝďĂǁĂŚEŽ͘ϭϵϭͬ>ĞŐͬϭϵϵϰ͕ĚĂŶ;ŝŝŝͿĚŝƵŵƵŵŬĂŶĚĂůĂŵdĂŵďĂŚĂŶEŽ͘ϵϲϰϬĚĂƌŝĞƌŝƚĂ
Negara Republik Indonesia (”EZ/”) No. 94 tanggal 25 Nopember 1994 (”ŬƚĂ WĞŶĚŝƌŝĂŶ”). ^ĞůĂŶũƵƚŶLJĂ͕
ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ WĞŵĞŐĂŶŐ ^ĂŚĂŵ Wd /ŶĚŽŵĂƌƵ DƵůƚŝ &ŝŶĂŶĐĞ ^ĞďĂŐĂŝ
WĞŶŐŐĂŶƚŝZĂƉĂƚhŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵ>ƵĂƌŝĂƐĂEŽ͘ϭϭϱƚĂŶŐŐĂůϮϳWĞďƌƵĂƌŝϮϬϬϯLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ
DƵŚĂŵŵĂĚ<ŚŽůŝĚƌƚŚĂ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂĚĂŶƚĞůĂŚ;ŝͿŵĞŶĚĂƉĂƚƉĞƌƐĞƚƵũƵĂŶĚĂƌŝDĞŶƚĞƌŝ<ĞŚĂŬŝŵĂŶ
ĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚ<ĞƉƵƚƵƐĂŶEŽ͘ͲϬϲϳϳϯ,d͘Ϭϭ͘Ϭϰ͘d,͘ϮϬϬϯƚĂŶŐŐĂů
ϮϴDĂƌĞƚϮϬϬϯ͕ƐĞƌƚĂ;ŝŝͿĚŝƵŵƵŵŬĂŶĚĂůĂŵdĂŵďĂŚĂŶEŽ͘ϰϳϴϴĚĂƌŝEZ/EŽ͘ϰϴƚĂŶŐŐĂůϭϳ:ƵŶŝϮϬϬϯ͕ŶĂŵĂ
perseroan telah dirubah menjadi bernama “PT Indomobil Finance Indonesia”.
WĂĚĂ ƚĂŶŐŐĂů ĚŝƚĞƌďŝƚŬĂŶŶLJĂ WƌŽƐƉĞŬƚƵƐ ŝŶŝ͕ ŶŐŐĂƌĂŶ ĂƐĂƌ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞŶŐĂůĂŵŝ ďĞďĞƌĂƉĂ ŬĂůŝ
ƉĞƌƵďĂŚĂŶ͕ĚĞŶŐĂŶĚĞŵŝŬŝĂŶŶŐŐĂƌĂŶĂƐĂƌWĞƌƐĞƌŽĂŶƚĞƌĂŬŚŝƌĂĚĂůĂŚƐĞďĂŐĂŝŵĂŶĂƚĞƌŵĂŬƚƵďĚĂůĂŵŬƚĂ
WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ WĞŵĞŐĂŶŐ ^ĂŚĂŵ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ ƐĞďĂŐĂŝ WĞŶŐŐĂŶƚŝ ZĂƉĂƚ
hŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵEŽ͘ϮϲƚĂŶŐŐĂůϴ:ĂŶƵĂƌŝϮϬϮϰLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶDƵŚĂŵŵĂĚ<ŚŽůŝĚ͕^͘,͕͘EŽƚĂƌŝƐ
Ěŝ :ĂŬĂƌƚĂ͕ ĚĂŶ ƚĞůĂŚ ;ŝͿ ŵĞŶĚĂƉĂƚŬĂŶ ƉĞƌƐĞƚƵũƵĂŶ ĚĂƌŝ DĞŶƚĞƌŝ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ
/ŶĚŽŶĞƐŝĂďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚ<ĞƉƵƚƵƐĂŶŶLJĂEŽ͘,hͲϬϬϬϭϱϯϭ͘,͘Ϭϭ͘ϬϮ͘dĂŚƵŶϮϬϮϰƚĂŶŐŐĂůϭϬ:ĂŶƵĂƌŝϮϬϮϰ͕
;ŝŝͿĚŝďĞƌŝƚĂŚƵŬĂŶŬĞƉĂĚĂĚĂŶĚŝƚĞƌŝŵĂƐĞƌƚĂĚŝĐĂƚĂƚĚĂůĂŵĂƚĂďĂƐĞ^ŝƐŵŝŶďĂŬƵŵ<ĞŵĞŶƚĞƌŝĂŶ,ƵŬƵŵĚĂŶ,ĂŬ
ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌŶLJĂƚĂ ĚĂƌŝ ^ƵƌĂƚ WĞŶĞƌŝŵĂĂŶ WĞŵďĞƌŝƚĂŚƵŶĂŶ WĞƌƵďĂŚĂŶ
ĂƚĂWĞƌƐĞƌŽĂŶEŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϬϭϬϱϭϴƚĂŶŐŐĂůϭϬ:ĂŶƵĂƌŝϮϬϮϰ͕;ŝŝŝͿĚŝĚĂĨƚĂƌŬĂŶĚĂůĂŵĂĨƚĂƌWĞƌƐĞƌŽĂŶ
EŽ͘ ,hͲϬϬϬϱϭϲϬ͘,͘Ϭϭ͘ϭϭ͘ dĂŚƵŶ ϮϬϮϰ ƉĂĚĂ ƚĂŶŐŐĂů ϭϬ :ĂŶƵĂƌŝ ϮϬϮϰ ŽůĞŚ DĞŶƚĞƌŝ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ
DĂŶƵƐŝĂ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ďĞƌĚĂƐĂƌŬĂŶ <ĞƉƵƚƵƐĂŶ ZĂƉĂƚ ƚĂŶŐŐĂů ϭϯ ĞƐĞŵďĞƌ ϮϬϮϯ͕ ƚĞůĂŚ ŵĞŶLJĞƚƵũƵŝ
ƉĞƌƵďĂŚĂŶ ƌĞĚĂŬƐŝ WĂƐĂů ϯ ŶŐŐĂƌĂŶ ĂƐĂƌ WĞƌƐĞƌŽĂŶ ƚĞŶƚĂŶŐ DĂŬƐƵĚ ĚĂŶ dƵũƵĂŶ ƐĞƌƚĂ <ĞŐŝĂƚĂŶ hƐĂŚĂ
WĞƌƐĞƌŽĂŶ͕ ƵŶƚƵŬ ĚŝƐĞƐƵĂŝŬĂŶ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ <>/ ϮϬϮϬ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ ƉĞƌĂƚƵƌĂŶ ƉĞƌƵŶĚĂŶŐͲ
ƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͘
WĞƌƵďĂŚĂŶͲƉĞƌƵďĂŚĂŶ ƚĞƌŚĂĚĂƉ ŶŐŐĂƌĂŶ ĂƐĂƌ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ĚŝůĂŬƐĂŶĂŬĂŶ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ
ŶŐŐĂƌĂŶĂƐĂƌWĞƌƐĞƌŽĂŶĚĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͘
<ĞŐŝĂƚĂŶhƐĂŚĂďĞƌĚĂƐĂƌŬĂŶŬƚĂWĞŶĚŝƌŝĂŶ͕ƐĞƐƵĂŝŬĞƚĞŶƚƵĂŶƉĂƐĂůϯŶŐŐĂƌĂŶĂƐĂƌ͕DĂŬƐƵĚĚĂŶdƵũƵĂŶ
WĞƌƐĞƌŽĂŶ ŝĂůĂŚ͗ Ͳ ŵĞŶũĂůĂŶŬĂŶ ƵƐĂŚĂͲƵƐĂŚĂ ĚŝďŝĚĂŶŐ ĐŽŶƐƵŵĞƌƐ ĨŝŶĂŶĐĞ ĂƚĂƵ ƉĞŵďŝĂLJĂĂŶ ŬŽŶƐƵŵĞŶ LJĂŝƚƵ
ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ƉĞŵďŝĂLJĂĂŶ ƵŶƚƵŬ ƉĞŶŐĂĚĂĂŶ ďĂƌĂŶŐ ďĞƌĚĂƐĂƌŬĂŶ ŬĞďƵƚƵŚĂŶ ŬŽŶƐƵŵĞŶ ĚĞŶŐĂŶ ƐŝƐƚŝŵ
ƉĞŵďĂLJĂƌĂŶĂŶŐƐƵƌĂŶĂƚĂƵďĞƌŬĂůĂŽůĞŚŬŽŶƐƵŵĞŶ͘hŶƚƵŬŵĞŶĐĂƉĂŝŵĂŬƐƵĚƚĞƌƐĞďƵƚĚŝĂƚĂƐWĞƌƐĞƌŽĂŶĚĂƉĂƚ
ďĞŬĞƌũĂƐĂŵĂĚĞŶŐĂŶƉĞƌƵƐĂŚĂĂŶͲƉĞƌƵƐĂŚĂĂŶůĂŝŶŶLJĂ͘
<ĞŐŝĂƚĂŶ hƐĂŚĂ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŶŐŐĂƌĂŶ ĂƐĂƌ ĚĂŶͬĂƚĂƵ <>/ ĂĚĂůĂŚ WĞƌƵƐĂŚĂĂŶ WĞŵďŝĂLJĂĂŶ
<ŽŶǀĞŶƐŝŽŶĂů;ϲϰϵϭϭͿhŶŝƚhƐĂŚĂ^LJĂƌŝĂŚWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ;ϲϰϵϭϯͿ͕ŶĂŵƵŶŬĞŐŝĂƚĂŶƵƐĂŚĂLJĂŶŐƚĞůĂŚ
ďĞŶĂƌďĞŶĂƌĚŝũĂůĂŶŬĂŶƐĂĂƚŝŶŝĂĚĂůĂŚƉĞŵďŝĂLJĂĂŶŝŶǀĞƐƚĂƐŝ͕ƉĞŵďŝĂLJĂĂŶŵŽĚĂůŬĞƌũĂ͕ƉĞŵďŝĂLJĂĂŶŵƵůƚŝŐƵŶĂ͕
ƉĞŵďŝĂLJĂĂŶƐĞǁĂŽƉĞƌĂƐŝĚĂŶƉĞŵďŝĂLJĂĂŶƐLJĂƌŝĂŚ͘
WĂĚĂƚĂŶŐŐĂůĚŝƚĞƌďŝƚŬĂŶWƌŽƐƉĞŬƚƵƐŝŶŝ͕WĞƌƐĞƌŽĂŶŵĞŵŝůŝŬŝ͕ƐĞďĂŶLJĂŬϮϭϬ;ĚƵĂƌĂƚƵƐƐĞƉƵůƵŚͿ<ĂŶƚŽƌĂďĂŶŐ
ĚĂŶϯϲ;ƚŝŐĂƉƵůƵŚĞŶĂŵͿKƵƚůĞƚ͕ĚĂŶϴ;ĚĞůĂƉĂŶͿhŶŝƚ^LJĂƌŝĂŚLJĂŶŐƚĞƌƐĞďĂƌĚŝďĞƌďĂŐĂŝǁŝůĂLJĂŚĚŝ/ŶĚŽŶĞƐŝĂ͘
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<ĂŶƚŽƌƉƵƐĂƚWĞƌƐĞƌŽĂŶƚĞƌůĞƚĂŬĚŝ/ŶĚŽŵŽďŝůdŽǁĞƌ͕>ƚ͘ϴ͕:ů͘D͘d͘,ĂƌLJŽŶŽ<Ăǀ͘ϭϭ͕:ĂŬĂƌƚĂdŝŵƵƌϭϯϯϯϬ͘
WĂĚĂƐĂĂƚWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶ͕WĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝWĞƌƵƐĂŚĂĂŶŶĂŬĚĂŶWĞƌƵƐĂŚĂĂŶƐŽƐŝĂƐŝ͘
Ϯ͘ ^dZh<dhZW ZDK>EE^h^hEEW D 'E'^,Dd Z<,/Z
WĂĚĂƚĂŶŐŐĂůĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚƉĞƌƵďĂŚĂŶĂƚĂƐƐƚƌƵŬƚƵƌƉĞƌŵŽĚĂůĂŶĚĂŶƐƵƐƵŶĂŶ
ƉĞŵĞŐĂŶŐƐĂŚĂŵƐĞƌƚĂŬŽŵƉŽƐŝƐŝŬĞƉĞŵŝůŝŬĂŶƐĂŚĂŵĚĂůĂŵWĞƌƐĞƌŽĂŶĚĂůĂŵϮ;ĚƵĂͿƚĂŚƵŶƚĞƌĂŬŚŝƌ͘ĞŶŐĂŶ
ĚĞŵŝŬŝĂŶ ƐƚƌƵŬƚƵƌ ƉĞƌŵŽĚĂůĂŶ ĚĂŶ ƐƵƐƵŶĂŶ ƉĞŵĞŐĂŶŐ ƐĂŚĂŵ ƐĞƌƚĂ ŬŽŵƉŽƐŝƐŝ ŬĞƉĞŵŝůŝŬĂŶ ƐĂŚĂŵ ĚĂůĂŵ
WĞƌƐĞƌŽĂŶLJĂŶŐƚĞƌĂŬŚŝƌĂĚĂůĂŚƐĞďĂŐĂŝŵĂŶĂƚĞƌŵĂŬƚƵďĚĂůĂŵŬƚĂEŽ͘ϯϴͬϮϬϮϬ͕ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
EŝůĂŝEŽŵŝŶĂůZƉϭ͘ϬϬϬ͘ϬϬϬ͕ͲƐĞƚŝĂƉƐĂŚĂŵ
<ĞƚĞƌĂŶŐĂŶ
:ƵŵůĂŚ^ĂŚĂŵ :ƵŵůĂŚEŝůĂŝEŽŵŝŶĂů;ZƉͿ й
DŽĚĂůĂƐĂƌ Ϯ͘ϬϬϬ͘ϬϬϬ Ϯ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
DŽĚĂůŝƚĞŵƉĂƚŬĂŶΘŝƐĞƚŽƌWĞŶƵŚ
Wd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬ ϭ͘Ϭϰϭ͘ϬϱϮ ϭ͘Ϭϰϭ͘ϬϱϮ͘ϬϬϬ͘ϬϬϬ ϵϵ͕ϵϭ
Wd/D'^ĞũĂŚƚĞƌĂ>ĂŶŐŐĞŶŐ ϵϰϴ ϵϰϴ͘ϬϬϬ͘ϬϬϬ Ϭ͕Ϭϵ
:ƵŵůĂŚ ϭ͘ϬϰϮ͘ϬϬϬ ϭ͘ϬϰϮ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ ϭϬϬ͕ϬϬ
:ƵŵůĂŚ^ĂŚĂŵĂůĂŵWŽƌƚĞƉĞů ϵϱϴ͘ϬϬϬ ϵϱϴ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
ϯ͘ /<,d/^Zd< hE'EW Ed/E'
dĂďĞůĚŝďĂǁĂŚŝŶŝŵĞŶLJĂũŝŬĂŶŝŬŚƚŝƐĂƌĚĂƚĂŬĞƵĂŶŐĂŶƉĞŶƚŝŶŐWĞƌƐĞƌŽĂŶLJĂŶŐďĞƌĂƐĂůĚĂƌŝĚĂŶͬĂƚĂƵĚŝŚŝƚƵŶŐ
ďĞƌĚĂƐĂƌŬĂŶ>ĂƉŽƌĂŶ<ĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌ
ƉĂĚĂƚĂŶŐŐĂůͲƚĂŶŐŐĂůƚĞƌƐĞďƵƚ͘
>ĂƉŽƌĂŶ<ĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯ͕LJĂŶŐƚĞƌĐĂŶƚƵŵĚĂůĂŵWƌŽƐƉĞŬƚƵƐŝŶŝ͕ƚĞůĂŚ
ĚŝĂƵĚŝƚ ŽůĞŚ <ĂŶƚŽƌ ŬƵŶƚĂŶ WƵďůŝŬ ;“KAP”Ϳ WƵƌǁĂŶƚŽŶŽ͕ ^ƵŶŐŬŽƌŽ Θ ^ƵƌũĂ ďĞƌĚĂƐĂƌŬĂŶ ^ƚĂŶĚĂƌ ƵĚŝƚ LJĂŶŐ
ĚŝƚĞƚĂƉŬĂŶŽůĞŚ/ŶƐƚŝƚƵƚŬƵŶƚĂŶWƵďůŝŬ/ŶĚŽŶĞƐŝĂ;“IAPI”ͿĚĞŶŐĂŶŽƉŝŶŝƚĂŶƉĂŵŽĚŝĨŝŬĂƐŝĂŶLJĂŶŐĚŝƚĂŶĚĂƚĂŶŐĂŶŝ
ŽůĞŚ^ĂŶĚLJƚĂŶŐŐĂůϭϱDĞŝϮϬϮϱ͘
^ĞďĂŐĂŝ ĂŬŝďĂƚ ĚĂƌŝ ƉĞŵďƵůĂƚĂŶ͕ ƉĞŶLJĂũŝĂŶ ũƵŵůĂŚ ďĞďĞƌĂƉĂ ŝŶĨŽƌŵĂƐŝ ŬĞƵĂŶŐĂŶ ďĞƌŝŬƵƚ ŝŶŝ ĚĂƉĂƚ ƐĞĚŝŬŝƚ
ďĞƌďĞĚĂĚĞŶŐĂŶƉĞŶũƵŵůĂŚĂŶLJĂŶŐĚŝůĂŬƵŬĂŶƐĞĐĂƌĂĂƌŝƚŵĂƚŝŬĂ͘
>WKZEWK^/^/< hE'E
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌ
hZ/E
ϮϬϮϰ ϮϬϮϯ
dŽƚĂůƐĞƚ ϭϲ͘ϳϯϭ͘ϰϱϵ ϭϲ͘Ϭϳϯ͘ϰϴϭ
dŽƚĂů>ŝĂďŝůŝƚĂƐ ϭϯ͘ϵϳϵ͘ϯϬϮ ϭϯ͘ϲϯϯ͘Ϭϱϱ
dŽƚĂů ŬƵŝƚĂƐ Ϯ͘ϳϱϮ͘ϭϱϳ Ϯ͘ϰϰϬ͘ϰϮϲ
>WKZE>Zh'/EW E',^/>E<KDWZ , E^/&
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌ
hZ/E
ϮϬϮϰ ϮϬϮϯ
dŽƚĂůWĞŶĚĂƉĂƚĂŶ Ϯ͘ϱϯϮ͘ϱϯϴ Ϯ͘ϯϴϮ͘ϰϵϯ
dŽƚĂůĞďĂŶ Ϯ͘Ϭϯϵ͘ϰϵϮ Ϯ͘Ϭϭϵ͘ϭϴϬ
>ĂďĂƐĞďĞůƵŵďĞďĂŶƉĂũĂŬĨŝŶĂůĚĂŶďĞďĂŶƉĂũĂŬƉĞŶŐŚĂƐŝůĂŶ ϰϵϯ͘Ϭϰϲ ϯϲϯ͘ϯϭϯ
>ĂďĂdĂŚƵŶĞƌũĂůĂŶ ϰϭϱ͘ϰϲϱ Ϯϳϯ͘ϰϭϮ
WĞŶŐŚĂƐŝůĂŶŬŽŵƉƌĞŚĞŶƐŝĨůĂŝŶͲEĞƚŽƐĞƚĞůĂŚƉĂũĂŬ ;Ϯϴ͘ϳϯϰͿ ϮϮ͘Ϯϱϭ
dŽƚĂůWĞŶŐŚĂƐŝůĂŶ<ŽŵƉƌĞŚĞŶƐŝĨdĂŚƵŶĞƌũĂůĂŶ ϯϴϲ͘ϳϯϭ Ϯϵϱ͘ϲϲϯ
>ĂďĂdĂŚƵŶĞƌũĂůĂŶƉĞƌ^ĂŚĂŵĂƐĂƌ;ĂůĂŵZƵƉŝĂŚWĞŶƵŚͿ ϯϵϴ͘ϳϭϴ ϮϲϮ͘ϯϵϮ
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Z^/K< hE'EW Ed/E'
ϯϭĞƐĞŵďĞƌ
hZ/E
ϮϬϮϰ ϮϬϮϯ
ZĂƐŝŽWĞƌƚƵŵďƵŚĂŶ;йͿ
WĞŶĚĂƉĂƚĂŶ ϲ͕ϯϬ ϭ͕ϮϬ
>ĂďĂdĂŚƵŶĞƌũĂůĂŶ ϱϭ͕ϵϲ Ϯϭ͕ϵϴ
:ƵŵůĂŚƐĞƚ ϰ͕Ϭϵ ϳ͕ϭϭ
:ƵŵůĂŚ>ŝĂďŝůŝƚĂƐ Ϯ͕ϱϰ ϲ͕ϳϮ
:ƵŵůĂŚ ŬƵŝƚĂƐ ϭϮ͕ϳϳ ϵ͕ϯϱ
ZĂƐŝŽhƐĂŚĂ;йͿ
>ĂďĂ^ĞďĞůƵŵĞďĂŶWĂũĂŬWĞŶŐŚĂƐŝůĂŶͬWĞŶĚĂƉĂƚĂŶ ϭϵ͕Ϯϲ ϭϱ͕ϭϳ
WĞŶĚĂƉĂƚĂŶͬ:ƵŵůĂŚƐĞƚ ϭϱ͕ϭϰ ϭϰ͕ϴϮ
>ĂďĂdĂŚƵŶĞƌũĂůĂŶͬWĞŶĚĂƉĂƚĂŶ ϭϲ͕ϰϭ ϭϭ͕ϰϴ
/ŵďĂů,ĂƐŝůƐĞƚ Ϯ͕ϰϴ ϭ͕ϳϬ
/ŵďĂů,ĂƐŝů ŬƵŝƚĂƐ ϭϱ͕ϭϬ ϭϭ͕ϮϬ
ZĂƐŝŽ<ĞƵĂŶŐĂŶ
dŽƚĂů>ŝĂďŝůŝƚĂƐĂƚĂƐ ŬƵŝƚĂƐ;džͿ ϱ͕Ϭϴ ϱ͕ϱϵ
dŽƚĂů>ŝĂďŝůŝƚĂƐĂƚĂƐ:ƵŵůĂŚƐĞƚ;džͿ Ϭ͕ϴϰ Ϭ͕ϴϱ
'ĞĂƌŝŶŐZĂƚŝŽ;džͿ ϰ͕ϵϳ ϱ͕ϰϯ
&ŝŶĂŶĐŝŶŐƚŽƐƐĞƚZĂƚŝŽ;йͿ ϴϱ͕ϰϱ ϴϴ͕ϲϮ
ƋƵŝƚLJƚŽ&ƵůůLJWĂŝĚĂƉŝƚĂůZĂƚŝŽ;йͿ Ϯϲϰ͕ϭϮ Ϯϯϰ͕Ϯϭ
ZĂƐŝŽWĞƌŵŽĚĂůĂŶ;йͿ Ϯϴ͕Ϭϵ Ϯϱ͕ϵϮ
EŽŶͲWĞƌĨŽƌŵŝŶŐ&ŝŶĂŶĐŝŶŐ;EW&Ϳ;йͿ Ϭ͕ϴϳ Ϭ͕ϴϯ
/ŶƚĞƌĞƐƚŽǀĞƌĂŐĞZĂƚŝŽ;džͿ ϭ͕ϲϭ ϭ͕ϱϮ
Ğďƚ^ĞƌǀŝĐĞŽǀĞƌĂŐĞZĂƚŝŽ;džͿ Ϭ͕ϭϳ Ϭ͕ϭϱ
Z^/K< hE'EzE'/W Z^zZd<E>DW Z:E:/EhdE'
dŝŶŐŬĂƚWĞŵĞŶƵŚĂŶ
WĞƌƐLJĂƌĂƚĂŶZĂƐŝŽ
ZĂƐŝŽͲƌĂƐŝŽĚĂůĂŵWĞƌũĂŶũŝĂŶWŝŶũĂŵĂŶ WĞƌƐĞƌŽĂŶƉĞƌ
<ĞƵĂŶŐĂŶ
ϯϭĞƐĞŵďĞƌϮϬϮϰ
ĞďƚƚŽ ƋƵŝƚLJZĂƚŝŽ ϭϬ͗ϭ ϰ͕ϵϳ͗ϭ
dŽƚĂůEĞƚĞďƚƚŽĞƋƵŝƚLJƌĂƚŝŽ ϭϬ͗ϭ ϰ͕ϯϲ͗ϭ
EŽŶWĞƌĨŽƌŵŝŶŐƐƐĞƚͬ>ŽĂŶ ϱй Ϭ͕ϴϳй
/ŶƚĞƌĞƐƚ^ĞƌǀŝĐĞŽǀĞƌĂŐĞZĂƚŝŽ ŵŝŶ͘ϭ͕Ϯϱ͗ϭ ϭ͕ϲϭ͗ϭ
ZƚŽdŽƚĂůƐƐĞƚƐ ŵŝŶ͘ϰϬй ϴϱ͕ϰϱй
dĂŶŐŝďůĞEĞƚtŽƌƚŚ ŵŝŶZƉϭ͘ϬϬϬ͘ϬϬϬũƵƚĂ ZƉϮ͘ϳϱϮ͘ϭϱϳũƵƚĂ
WĞƌƐĞƌŽĂŶƚĞůĂŚŵĞŵĞŶƵŚŝƌĂƐŝŽŬĞƵĂŶŐĂŶLJĂŶŐĚŝƉĞƌƐLJĂƌĂƚŬĂŶĚĂůĂŵƉĞƌũĂŶũŝĂŶƵƚĂŶŐĚĂŶLJĂŶŐĚŝƉĞƌƐLJĂƌĂƚŬĂŶ
ŽůĞŚKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶ;K:<Ϳ͘<ĞƚĞƌĂŶŐĂŶůĞďŝŚůĂŶũƵƚŵĞŶŐĞŶĂŝ/ŬŚƚŝƐĂƌĂƚĂ<ĞƵĂŶŐĂŶĚĂƉĂƚĚŝůŝŚĂƚƉĂĚĂ
Ăď/sWƌŽƐƉĞŬƚƵƐ͘
ϰ͘ < d ZE'Ed EdE'K>/'^/
EĂŵĂKďůŝŐĂƐŝ ͗ KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs//ŶĚŽŵŽďŝů&ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉ
dĂŚĂƉ/dĂŚƵŶϮϬϮϱ
dĂƌŐĞƚĚĂŶĂWĞŶĂǁĂƌĂŶhŵƵŵ ͗ ^ĞďĞƐĂƌZƉϱ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ůŝŵĂƚƌŝůŝƵŶZƵƉŝĂŚͿ
ĞƌŬĞůĂŶũƵƚĂŶLJĂŶŐĂŬĂŶ
ĚŝŚŝŵƉƵŶ
:ƵŵůĂŚWŽŬŽŬKďůŝŐĂƐŝ ͗ ^ĞďĞƐĂƌZƉϭ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƐĂƚƵƚƌŝůŝƵŶZƵƉŝĂŚͿ
:ĂŶŐŬĂtĂŬƚƵ ͗ Ͳ ^Ğƌŝ ĚĞŶŐĂŶ ũĂŶŐŬĂ ǁĂŬƚƵ ϯϳϬ ;ƚŝŐĂ ƌĂƚƵƐ ƚƵũƵŚ ƉƵůƵŚͿ ,Ăƌŝ
<ĂůĞŶĚĞƌ͖
Ͳ ^ĞƌŝĚĞŶŐĂŶũĂŶŐŬĂǁĂŬƚƵϯ;ƚŝŐĂͿƚĂŚƵŶ͖ĚĂŶ
Ͳ ^ĞƌŝĚĞŶŐĂŶũĂŶŐŬĂǁĂŬƚƵϱ;ůŝŵĂͿƚĂŚƵŶ͘
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^ĞƌŝKďůŝŐĂƐŝ ͗ ^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ
ZƉϱϮϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ůŝŵĂ ƌĂƚƵƐ ĚƵĂ ƉƵůƵŚ ŵŝůŝĂƌ ZƵƉŝĂŚͿ
ĚĞŶŐĂŶƚŝŶŐŬĂƚďƵŶŐĂƚĞƚĂƉKďůŝŐĂƐŝƐĞďĞƐĂƌϲ͕ϰϱй;ĞŶĂŵ
ŬŽŵĂ ĞŵƉĂƚ ůŝŵĂ ƉĞƌƐĞŶͿ͘ :ĂŶŐŬĂ ǁĂŬƚƵ KďůŝŐĂƐŝ ^Ğƌŝ
ĂĚĂůĂŚϯϳϬ;ƚŝŐĂƌĂƚƵƐƚƵũƵŚƉƵůƵŚͿ,Ăƌŝ<ĂůĞŶĚĞƌƚĞƌŚŝƚƵŶŐ
ƐĞũĂŬdĂŶŐŐĂů ŵŝƐŝ͘WĞŵďĂLJĂƌĂŶKďůŝŐĂƐŝĚŝůĂŬƵŬĂŶƐĞĐĂƌĂ
ƉĞŶƵŚ;ďƵůůĞƚƉĂLJŵĞŶƚͿƐĞďĞƐĂƌϭϬϬй;ƐĞƌĂƚƵƐƉĞƌƐĞŶͿĚĂƌŝ
:ƵŵůĂŚWŽŬŽŬKďůŝŐĂƐŝ^ĞƌŝƉĂĚĂƐĂĂƚũĂƚƵŚƚĞŵƉŽKďůŝŐĂƐŝ
^Ğƌŝ͘
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ
ZƉϴϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ĚĞůĂƉĂŶƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿĚĞŶŐĂŶ
ƚŝŶŐŬĂƚ ďƵŶŐĂ ƚĞƚĂƉ KďůŝŐĂƐŝ ƐĞďĞƐĂƌ ϲ͕ϴϱй ;ĞŶĂŵ ŬŽŵĂ
ĚĞůĂƉĂŶůŝŵĂƉĞƌƐĞŶͿ͘:ĂŶŐŬĂǁĂŬƚƵKďůŝŐĂƐŝ^ĞƌŝĂĚĂůĂŚϯ
;ƚŝŐĂͿ ƚĂŚƵŶ ƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ dĂŶŐŐĂů ŵŝƐŝ͘ WĞŵďĂLJĂƌĂŶ
KďůŝŐĂƐŝĚŝůĂŬƵŬĂŶƐĞĐĂƌĂƉĞŶƵŚ ;ďƵůůĞƚƉĂLJŵĞŶƚͿƐĞďĞƐĂƌ
ϭϬϬй ;ƐĞƌĂƚƵƐ ƉĞƌƐĞŶͿ ĚĂƌŝ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ
ƉĂĚĂƐĂĂƚũĂƚƵŚƚĞŵƉŽKďůŝŐĂƐŝ^Ğƌŝ͘
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ
ZƉϰϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ĞŵƉĂƚ ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĚĞŶŐĂŶ
ƚŝŶŐŬĂƚ ďƵŶŐĂ ƚĞƚĂƉ KďůŝŐĂƐŝ ƐĞďĞƐĂƌ ϳ͕ϭϬй ;ƚƵũƵŚ ŬŽŵĂ
ƐĂƚƵ ŶŽů ƉĞƌƐĞŶͿ͘ :ĂŶŐŬĂ ǁĂŬƚƵ KďůŝŐĂƐŝ ^Ğƌŝ ĂĚĂůĂŚ ϱ
;ůŝŵĂͿ ƚĂŚƵŶ ƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ dĂŶŐŐĂů ŵŝƐŝ͘ WĞŵďĂLJĂƌĂŶ
KďůŝŐĂƐŝĚŝůĂŬƵŬĂŶƐĞĐĂƌĂƉĞŶƵŚ ;ďƵůůĞƚƉĂLJŵĞŶƚͿƐĞďĞƐĂƌ
ϭϬϬй ;ƐĞƌĂƚƵƐ ƉĞƌƐĞŶͿ ĚĂƌŝ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ
ƉĂĚĂƐĂĂƚũĂƚƵŚƚĞŵƉŽKďůŝŐĂƐŝ^Ğƌŝ͘
,ĂƌŐĂWĞŶĂǁĂƌĂŶ ͗ ϭϬϬйĚĂƌŝŶŝůĂŝWŽŬŽŬKďůŝŐĂƐŝ͘
^ĂƚƵĂŶWĞŵĞƐĂŶĂŶ ͗ ZƉϱ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ůŝŵĂũƵƚĂZƵƉŝĂŚͿĂƚĂƵŬĞůŝƉĂƚĂŶŶLJĂ͘
^ĂƚƵĂŶWĞŵŝŶĚĂŚďƵŬƵĂŶ ͗ ZƉϭ͕Ͳ;ƐĂƚƵZƵƉŝĂŚͿ͘
WĞŵďĂLJĂƌĂŶ<ƵƉŽŶƵŶŐĂ ͗ ^ĞƚŝĂƉϯ;ƚŝŐĂͿďƵůĂŶĂƚĂƵdƌŝǁƵůĂŶĂŶ͘
:ĂŵŝŶĂŶ ͗ KďůŝŐĂƐŝŝŶŝƚŝĚĂŬĚŝũĂŵŝŶĚĞŶŐĂŶũĂŵŝŶĂŶŬŚƵƐƵƐ͕ƚĞƚĂƉŝĚŝũĂŵŝŶĚĞŶŐĂŶ
ƐĞůƵƌƵŚŚĂƌƚĂŬĞŬĂLJĂĂŶƉĞƌƐĞƌŽĂŶďĂŝŬďĂƌĂŶŐďĞƌŐĞƌĂŬŵĂƵƉƵŶďĂƌĂŶŐ
ƚŝĚĂŬďĞƌŐĞƌĂŬ͕ďĂŝŬLJĂŶŐƚĞůĂŚĂĚĂŵĂƵƉƵŶLJĂŶŐĂŬĂŶĂĚĂĚŝŬĞŵƵĚŝĂŶ
ŚĂƌŝƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶĚĂůĂŵƉĂƐĂůϭϭϯϭĚĂŶϭϭϯϮŬŝƚĂďƵŶĚĂŶŐͲ
ƵŶĚĂŶŐŚƵŬƵŵƉĞƌĚĂƚĂ͘,ĂŬƉĞŵĞŐĂŶŐŽďůŝŐĂƐŝĂĚĂůĂŚƉĂƌŝƉĂƐƐƵƚĂŶƉĂ
ŚĂŬƉƌĞĨĞƌĞŶĚĞŶŐĂŶŚĂŬͲŚĂŬŬƌĞĚŝƚƵƌƉĞƌƐĞƌŽĂŶůĂŝŶŶLJĂďĂŝŬLJĂŶŐĂĚĂ
ƐĞŬĂƌĂŶŐŵĂƵƉƵŶĚŝŬĞŵƵĚŝĂŶŚĂƌŝ͕ŬĞĐƵĂůŝŚĂŬͲŚĂŬŬƌĞĚŝƚƵƌƉĞƌƐĞƌŽĂŶ
LJĂŶŐĚŝũĂŵŝŶƐĞĐĂƌĂŬŚƵƐƵƐĚĞŶŐĂŶŬĞŬĂLJĂĂŶƉĞƌƐĞƌŽĂŶďĂŝŬLJĂŶŐƚĞůĂŚ
ĂĚĂŵĂƵƉƵŶLJĂŶŐĂŬĂŶĂĚĂĚŝŬĞŵƵĚŝĂŶŚĂƌŝ͘
WĞŶLJŝƐŝŚĂŶĂŶĂ ͗ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ŵĞŶLJĞůĞŶŐŐĂƌĂŬĂŶ ƉĞŶLJŝƐŝŚĂŶ ĚĂŶĂ ƵŶƚƵŬ KďůŝŐĂƐŝ ŝŶŝ
ĚĞŶŐĂŶ ƉĞƌƚŝŵďĂŶŐĂŶ ƵŶƚƵŬ ŵĞŶŐŽƉƚŝŵĂůŬĂŶ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů
WĞŶĂǁĂƌĂŶhŵƵŵKďůŝŐĂƐŝŝŶŝƐĞƐƵĂŝĚĞŶŐĂŶƚƵũƵĂŶƌĞŶĐĂŶĂƉĞŶŐŐƵŶĂĂŶ
ĚĂŶĂŚĂƐŝůWĞŶĂǁĂƌĂŶhŵƵŵKďůŝŐĂƐŝ͘
WĞŵďĞůŝĂŶ<ĞŵďĂůŝ ͗ WĞƌƐĞƌŽĂŶ ĚĂƉĂƚ ŵĞůĂŬƵŬĂŶ ƉĞŵďĞůŝĂŶ ŬĞŵďĂůŝ ϭ ;ƐĂƚƵͿ ƚĂŚƵŶ ƐĞƚĞůĂŚ
dĂŶŐŐĂů WĞŶũĂƚĂŚĂŶ ƵŶƚƵŬ ƐĞďĂŐŝĂŶ ĂƚĂƵ ƐĞůƵƌƵŚ KďůŝŐĂƐŝ ƐĞďĞůƵŵ
dĂŶŐŐĂůWĞůƵŶĂƐĂŶWŽŬŽŬKďůŝŐĂƐŝĚĂŶWĞƌƐĞƌŽĂŶŵĞŵƉƵŶLJĂŝŚĂŬƵŶƚƵŬ
ŵĞŵďĞƌůĂŬƵŬĂŶ ƉĞŵďĞůŝĂŶ ŬĞŵďĂůŝ ƚĞƌƐĞďƵƚ ƵŶƚƵŬ ĚŝƉĞƌŐƵŶĂŬĂŶ
ƐĞďĂŐĂŝ ƉĞůƵŶĂƐĂŶ KďůŝŐĂƐŝ ĂƚĂƵ ĚŝƐŝŵƉĂŶ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ
ŬĞƚĞŶƚƵĂŶ ĚĂŶ ƉĞƌƵŶĚĂŶŐͲƉĞƌƵŶĚĂŶŐĂŶ LJĂŶŐ ďĞƌůĂŬƵ͘ KďůŝŐĂƐŝ LJĂŶŐ
ĚŝďĞůŝ ŬĞŵďĂůŝ ŽůĞŚ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ĚŝƐŝŵƉĂŶ ĚŝŬĞŵƵĚŝĂŶ ŚĂƌŝ ĚĂƉĂƚ
ĚŝũƵĂů ŬĞŵďĂůŝ ĚĂŶͬĂƚĂƵ ĚŝďĞƌůĂŬƵŬĂŶ ƐĞďĂŐĂŝ ƉĞůƵŶĂƐĂŶ KďůŝŐĂƐŝ ĚĂŶ
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PT INDOMOBIL FINANCE INDONESIA
KďůŝŐĂƐŝŝŶŝƚŝĚĂŬďĞƌŚĂŬĂƚĂƐƵŶŐĂKďůŝŐĂƐŝ͘ZĞŶĐĂŶĂƉĞŵďĞůŝĂŶŬĞŵďĂůŝ
ĚŝƵŵƵŵŬĂŶƐĞůĂŵďĂƚͲůĂŵďĂƚŶLJĂϮ;ĚƵĂͿŚĂƌŝŬĂůĞŶĚĞƌƐĞďĞůƵŵƚĂŶŐŐĂů
ƉĞƌŵƵůĂĂŶƉĞŶĂǁĂƌĂŶƉĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝ͘^ĞůĂŵďĂƚͲůĂŵďĂƚŶLJĂ
Ϯ ;ĚƵĂͿ ŚĂƌŝ ŬĞƌũĂ ƐĞƚĞůĂŚ ĚŝůĂŬƵŬĂŶŶLJĂ ƉĞŵďĞůŝĂŶ ŬĞŵďĂůŝ KďůŝŐĂƐŝ͕
WĞƌƐĞƌŽĂŶ ǁĂũŝď ŵĞŶŐƵŵƵŵŬĂŶ ƉĞƌŝŚĂů ƉĞŵďĞůŝĂŶ ŬĞŵďĂůŝ KďůŝŐĂƐŝ
ƚĞƌƐĞďƵƚ ƉĂĚĂ ϭ ;ƐĂƚƵͿ ƐƵƌĂƚ ŬĂďĂƌ ďĞƌďĂŚĂƐĂ /ŶĚŽŶĞƐŝĂ ďĞƌƉĞƌĞĚĂƌĂŶ
ŶĂƐŝŽŶĂů͘<ĞƚĞƌĂŶŐĂŶůĞďŝŚůĂŶũƵƚŵĞŶŐĞŶĂŝWĞŵďĞůŝĂŶ<ĞŵďĂůŝĚŝƵƌĂŝŬĂŶ
ĚĂůĂŵĂď/WĞŶĂǁĂƌĂŶhŵƵŵĞƌŬĞůĂŶũƵƚĂŶ͘
tĂůŝŵĂŶĂƚ ͗ WdĂŶŬDĞŐĂdďŬ͘
ϱ͘ Z EEW E''hEEE,^/>W EtZEhDhD
^ĞůƵƌƵŚĚĂŶĂLJĂŶŐĚŝƉĞƌŽůĞŚĚĂƌŝŚĂƐŝůWĞŶĂǁĂƌĂŶhŵƵŵŝŶŝ͕ƐĞƚĞůĂŚĚŝŬƵƌĂŶŐŝĚĞŶŐĂŶďŝĂLJĂͲďŝĂLJĂ ŵŝƐŝ͕ĂŬĂŶ
ĚŝƉĞƌŐƵŶĂŬĂŶƐĞůƵƌƵŚŶLJĂŽůĞŚWĞƌƐĞƌŽĂŶƵŶƚƵŬŵŽĚĂůŬĞƌũĂƉĞŵďŝĂLJĂĂŶŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌĚĂŶĂůĂƚďĞƌĂƚ
ƐĞďĂŐĂŝŵĂŶĂŬĞŐŝĂƚĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶ͘
<ĞƚĞƌĂŶŐĂŶůĞďŝŚůĂŶũƵƚŵĞŶŐĞŶĂŝƉĞŶŐŐƵŶĂĂŶĚĂŶĂLJĂŶŐĚŝƉĞƌŽůĞŚĚĂƌŝŚĂƐŝůWĞŶĂǁĂƌĂŶhŵƵŵ KďůŝŐĂƐŝŝŶŝ
ĚĂƉĂƚĚŝůŝŚĂƚƉĂĚĂĂď//ZĞŶĐĂŶĂWĞŶŐŐƵŶĂĂŶĂŶĂĚŝWƌŽƐƉĞŬƚƵƐŝŶŝ͘
ϲ͘ < d ZE'Ed EdE' & < Z^/&dhdE'zE' >hD/>hE^/
ĨĞŬďĞƌƐŝĨĂƚƵƚĂŶŐLJĂŶŐďĞůƵŵĚŝůƵŶĂƐŝĚĂŶŵĂƐŝŚƚĞƌƵƚĂŶŐƐĂŵƉĂŝĚĞŶŐĂŶĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝĂĚĂůĂŚ
ƐĞďĞƐĂƌZƉϰ͘ϬϭϮ͘ϳϯϱũƵƚĂĚĞŶŐĂŶƌŝŶĐŝĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
dŝŶŐŬĂƚƵŶŐĂ :ƵŵůĂŚKďůŝŐĂƐŝ
EĂŵĂ ĨĞŬ ^Ğƌŝ :ĂƚƵŚdĞŵƉŽ
ƉĞƌdĂŚƵŶ;йͿ dĞƌƵƚĂŶŐ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ /s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϵ͕ϵϬ ϰŐƵƐƚƵƐϮϬϮϱ ϵϬ͘ϬϬϬ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ /
dĂŚƵŶϮϬϮϬΎ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ /s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϱϬ ϭϵEŽǀĞŵďĞƌϮϬϮϲ ϱϵϯ͘ϱϰϬ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ //
dĂŚƵŶϮϬϮϭ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ /s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϱϬ ϮϱDĂƌĞƚϮϬϮϳ ϯϮ͘Ϯϴϱ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ ///
dĂŚƵŶϮϬϮϮ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϲϬ ϴ:ƵůŝϮϬϮϳ ϭϬϬ͘ϬϬϬ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ /
dĂŚƵŶϮϬϮϮ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϱϬ ϮϴDĂƌĞƚϮϬϮϲ Ϯϳϵ͘ϱϴϱ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ //
dĂŚƵŶϮϬϮϯ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϳϱ ϮϴDĂƌĞƚϮϬϮϴ ϴϲ͘ϯϮϬ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ //
dĂŚƵŶϮϬϮϯ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϲ͕ϴϱ ϭ:ƵůŝϮϬϮϱ ϭ͘ϰϬϰ͘ϵϴϬ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ ///
dĂŚƵŶϮϬϮϰΎ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϭϱ Ϯϭ:ƵŶŝϮϬϮϳ ϲϭϭ͘ϭϲϬ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ ///
dĂŚƵŶϮϬϮϰ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϰϬ Ϯϭ:ƵŶŝϮϬϮϵ ϴϭϰ͘ϴϲϱ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ ///
dĂŚƵŶϮϬϮϰ
:ƵŵůĂŚ ϰ͘ϬϭϮ͘ϳϯϱ
Ύ^ƵŵďĞƌĚĂŶĂƵŶƚƵŬŵĞůƵŶĂƐŝKďůŝŐĂƐŝLJĂŶŐĂŬĂŶũĂƚƵŚƚĞŵƉŽĚŝƚĂŚƵŶϮϬϮϱĚĞŶŐĂŶŵĞŶŐŐƵŶĂŬĂŶƐĞďĂŐŝĂŶĚĂŶĂĚĂƌŝĐŽůůĞĐƚŝŽŶLJĂŶŐ
ĚŝƚĞƌŝŵĂĚĂƌŝŬŽŶƐƵŵĞŶĂƚĂƐŬĞŐŝĂƚĂŶƉĞŵďĂLJĂƌĂŶĚĂŶƐĞďĂŐŝĂŶĚĂƌŝĨĂƐŝůŝƚĂƐŬƌĞĚŝƚLJĂŶŐĚŝŵŝůŝŬŝŽůĞŚWĞƌƐĞƌŽĂŶ͘
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WĞƌƐĞƌŽĂŶƚĞůĂŚŵĞŶLJŝĂƉŬĂŶĚĂŶĂƵŶƚƵŬŵĞůĂŬƵŬĂŶƉĞůƵŶĂƐĂŶƉŽŬŽŬĚĂŶƉĞŵďĂLJĂƌĂŶďƵŶŐĂĂƚĂƐƵƚĂŶŐŽďůŝŐĂƐŝ
LJĂŶŐĂŬĂŶũĂƚƵŚƚĞŵƉŽƉĂĚĂϭ:ƵůŝϮϬϮϱĚĂŶϰŐƵƐƚƵƐϮϬϮϱLJĂŶŐďĞƌƐƵŵďĞƌĚĂƌŝĐŽůůĞĐƚŝŽŶLJĂŶŐĚŝƚĞƌŝŵĂĚĂƌŝ
ŬŽŶƐƵŵĞŶĂƚĂƐŬĞŐŝĂƚĂŶƉĞŵďĂLJĂƌĂŶĚĂŶƐĞďĂŐŝĂŶĚĂƌŝĨĂƐŝůŝƚĂƐŬƌĞĚŝƚLJĂŶŐĚŝŵŝůŝŬŝŽůĞŚWĞƌƐĞƌŽĂŶ͘<ĞƐŝĂƉĂŶ
ĚĂŶĂĂƚĂƐŬĞĚƵĂŽďůŝŐĂƐŝLJĂŶŐĂŬĂŶũĂƚƵŚƚĞŵƉŽƚĞƌƐĞďƵƚũƵŐĂƚĞůĂŚĚŝůĂƉŽƌŬĂŶŽůĞŚWĞƌƐĞƌŽĂŶŵĞůĂůƵŝ^W K:<Ͳ
/yEĞƚŵĞůĂůƵŝĨŽƌŵĞϬϭϵ͕ŵĂƐŝŶŐͲŵĂƐŝŶŐƉĂĚĂϮϰDĂƌĞƚϮϬϮϱĚĂŶϮϯƉƌŝůϮϬϮϱ͘
,ŝŶŐŐĂWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶ͕WĞƌƐĞƌŽĂŶƚĞůĂŚŵĞůĂŬƵŬĂŶƉĞŵďĂLJĂƌĂŶďƵŶŐĂŽďůŝŐĂƐŝƐĞƐƵĂŝĚĞŶŐĂŶũĂƚƵŚ
ƚĞŵƉŽLJĂŶŐƚĞůĂŚĚŝƚĞƚĂƉŬĂŶĚĂůĂŵƉĞƌũĂŶũŝĂŶƉĞƌǁĂůŝĂŵĂŶĂƚĂŶĚĂŶƚĞůĂŚŵĞŵĞŶƵŚŝƐĞůƵƌƵŚƉĞƌƐLJĂƌĂƚĂŶLJĂŶŐ
ĚŝƐĞďƵƚŬĂŶ ĚĂůĂŵ ƉĞƌũĂŶũŝĂŶ ƉĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘ :ƵŵůĂŚ ƉŽŬŽŬ ƵƚĂŶŐ ŽďůŝŐĂƐŝ ƚĞůĂŚ ĚŝďĂLJĂƌŬĂŶ ƐĞƐƵĂŝ ĚĞŶŐĂŶ
ƚĂŶŐŐĂůũĂƚƵŚƚĞŵƉŽŽďůŝŐĂƐŝLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͘
&<dKZZ/^/<K
^ĞďĂŐĂŝŵĂŶĂŚĂůŶLJĂĚĞŶŐĂŶďŝĚĂŶŐͲďŝĚĂŶŐƵƐĂŚĂůĂŝŶŶLJĂ͕ďŝĚĂŶŐƵƐĂŚĂLJĂŶŐĚŝũĂůĂŶŬĂŶWĞƌƐĞƌŽĂŶũƵŐĂƚŝĚĂŬ
ƚĞƌůĞƉĂƐĚĂƌŝƌŝƐŝŬŽLJĂŶŐĚŝƐĞďĂďŬĂŶŽůĞŚďĞƌďĂŐĂŝĨĂŬƚŽƌLJĂŶŐĚĂƉĂƚŵĞŵƉĞŶŐĂƌƵŚŝƐĞĐĂƌĂŶĞŐĂƚŝĨŬĞŐŝĂƚĂŶ
ƵƐĂŚĂWĞƌƐĞƌŽĂŶ͘ŝďĂǁĂŚŝŶŝĂĚĂůĂŚƌŝŶĐŝĂŶƌŝƐŝŬŽŵĂƚĞƌŝĂůLJĂŶŐŵĂŶĂĨĂŬƚŽƌƌŝƐŝŬŽƵƐĂŚĂĚĂŶƌŝƐŝŬŽƵŵƵŵƚĞůĂŚ
ĚŝƐƵƐƵŶďĞƌĚĂƐĂƌŬĂŶďŽďŽƚƌŝƐŝŬŽLJĂŶŐĚŝŚĂĚĂƉŝWĞƌƐĞƌŽĂŶĚĂůĂŵŵĞŶũĂůĂŶŬĂŶŬĞŐŝĂƚĂŶƵƐĂŚĂŶLJĂLJĂŶŐĚĂƉĂƚ
ŵĞŵƉĞŶŐĂƌƵŚŝŬŝŶĞƌũĂŵĂƵƉƵŶŚĂƌŐĂKďůŝŐĂƐŝWĞƌƐĞƌŽĂŶďĂŝŬƐĞĐĂƌĂůĂŶŐƐƵŶŐŵĂƵƉƵŶƚŝĚĂŬůĂŶŐƐƵŶŐ͗
͘ Z/^/<K hdD zE' D DWhEz/ W E'Zh, ^/'E/&/<E d Z,W < >E'^hE'E h^,
W Z^ ZKE
ZŝƐŝŬŽWĞŵďŝĂLJĂĂŶ;<ƌĞĚŝƚͿ
ĂůĂŵ ŵĞŶũĂůĂŶŬĂŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂŶLJĂ͕ WĞƌƐĞƌŽĂŶ ŵĞŶŐŚĂĚĂƉŝ ƌŝƐŝŬŽ ŬƌĞĚŝƚ LJĂŶŐ ŵĞƌƵƉĂŬĂŶ ƌŝƐŝŬŽ LJĂŶŐ
ŵĞůĞŬĂƚ ;ŝŶŚĞƌĞŶƚ ƌŝƐŬͿ ƉĂĚĂ ŬĞŐŝƚĂŶ ƵƐĂŚĂ WĞƌƐĞƌŽĂŶ ƐĞďĂŐĂŝ WĞƌƐĞƌŽĂŶ ŵƵůƚŝĨŝŶĂŶĐĞ͘ ZŝƐŝŬŽ ŬƌĞĚŝƚ
ĚŝĚĞĨŝŶŝƐŝŬĂŶ ƐĞďĂŐĂŝ ŬĞƚŝĚĂŬͲŵĂŵƉƵĂŶ ŬŽŶƐƵŵĞŶͬĚĞďŝƚƵƌ ƵŶƚƵŬ ŵĞŵďĂLJĂƌ ŬĞŵďĂůŝ ŬĞǁĂũŝďĂŶŶLJĂ ƉĂĚĂ
ƚĂŶŐŐĂůũĂƚƵŚƚĞŵƉŽ͕ďĂŝŬƉŽŬŽŬƉŝŶũĂŵĂŶĚĂŶͬĂƚĂƵďƵŶŐĂ͘ZŝƐŝŬŽŝŶŝƚŝŵďƵůũŝŬĂƉĞŶŐĞůŽůĂĂŶƌŝƐŝŬŽŬƌĞĚŝƚ
ƚŝĚĂŬĚŝůĂŬƵŬĂŶƐĞĐĂƌĂďĂŝŬĚĂŶƉƌƵĚĞŶƚ͕ƐĞŚŝŶŐŐĂŵĞŶLJĞďĂďŬĂŶƉĞŶŝŶŐŬĂƚĂŶďĞďĂŶƉŝƵƚĂŶŐ ƉĞŵďŝĂLJĂĂŶ
ƚĂŬƚĞƌƚĂŐŝŚ͘ZŝƐŝŬŽŝŶŝũƵŐĂďŝƐĂƚĞƌũĂĚŝŬĂƌĞŶĂŬĞƌƵŐŝĂŶŚĂƐŝůƉĞŶũƵĂůĂŶĂŬƚŝǀĂLJĂŶŐĚŝĂŵďŝůĂůŝŚĚŝďĂǁĂŚŶŝůĂŝ
ďƵŬƵƐĞŚŝŶŐŐĂĚĂƉĂƚŵĞŶŐŐĂŶŐŐƵƉĞŶĚĂƉĂƚĂŶͬŬŝŶĞƌũĂWĞƌƐĞƌŽĂŶ͘
ZŝƐŝŬŽWĞŶĚĂŶĂĂŶ
^ĞďĂŐĂŝ ƐĞďƵĂŚ WĞƌƐĞƌŽĂŶ LJĂŶŐ ďĞƌŐĞƌĂŬ Ěŝ ďŝĚĂŶŐ ƵƐĂŚĂ ƉĞŵďŝĂLJĂĂŶ͕ ŬĞŵĂŵƉƵĂŶ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ
ŵĞŶĚĂƉĂƚŬĂŶƐƵŵďĞƌƉĞŶĚĂŶĂĂŶĂĚĂůĂŚĨĂŬƚŽƌLJĂŶŐƐĂŶŐĂƚƉĞŶƚŝŶŐ͘dŝĚĂŬƚĞƌƐĞĚŝĂŶLJĂƐƵŵďĞƌƉĞŶĚĂŶĂĂŶ
ďĂŝŬďĞƌƵƉĂƉŝŶũĂŵĂŶŵĂƵƉƵŶƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂĂŬĂŶďĞƌĚĂŵƉĂŬƉĂĚĂƚƵƌƵŶŶLJĂƉĞƌƚƵŵďƵŚĂŶƵƐĂŚĂ
WĞƌƐĞƌŽĂŶ͘ ŝƐĂŵƉŝŶŐ ďĞƐĂƌŶLJĂ ŶŝůĂŝ ƉĞŶĚĂŶĂĂŶ͕ ĨĂŬƚŽƌ ůĂŝŶŶLJĂ LJĂŶŐ ũƵŐĂ ŵĞŶĞŶƚƵŬĂŶ ĂĚĂůĂŚ ĚƵƌĂƐŝ
ƉĞŶĚĂŶĂĂŶ͘ DĞŶŐŝŶŐĂƚ ũĂŶŐŬĂ ǁĂŬƚƵ ƉĞŵďŝĂLJĂĂŶ LJĂŶŐ ďĞƌǀĂƌŝĂƐŝ͕ ŵĂŬĂ ƐƵŵďĞƌ ƉĞŶĚĂŶĂĂŶ ŚĂƌƵƐ
ĚŝƐĞƐƵĂŝŬĂŶ ĚĞŶŐĂŶ ũĂŶŐŬĂ ǁĂŬƚƵ ƉĞŵďŝĂLJĂĂŶ͘ <ĞƚŝĚĂŬŵĂŵƉƵĂŶ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŵĞŶĚĂƉĂƚŬĂŶ ĚĂŶĂ
ĚĞŶŐĂŶũĂŶŐŬĂǁĂŬƚƵLJĂŶŐƐĞƐƵĂŝĚĞŶŐĂŶƉĞŵďŝĂLJĂĂŶĂŬĂŶŵĞŶŐĂŬŝďĂƚŬĂŶŬĞƚŝĚĂŬƐĞƐƵĂŝĂŶƉĞŶĚĂŶĂĂŶLJĂŶŐ
ƐĞůĂŶũƵƚŶLJĂĚĂƉĂƚŵĞŵƉĞŶŐĂƌƵŚŝƉĞƌŬĞŵďĂŶŐĂŶWĞƌƐĞƌŽĂŶ͘
͘ ZŝƐŝŬŽ hƐĂŚĂ zĂŶŐ ĞƌƐŝĨĂƚ DĂƚĞƌŝĂů ĂŝŬ ^ĞĐĂƌĂ >ĂŶŐƐƵŶŐ DĂƵƉƵŶ dŝĚĂŬ >ĂŶŐƐƵŶŐ zĂŶŐ ĂƉĂƚ
DĞŵƉĞŶŐĂƌƵŚŝ,ĂƐŝůhƐĂŚĂĂŶ<ŽŶĚŝƐŝ<ĞƵĂŶŐĂŶ
ϭ͘ ZŝƐŝŬŽWĞƌƐĂŝŶŐĂŶ
Ϯ͘ ZŝƐŝŬŽ/ŶǀĞƐƚĂƐŝĂƚĂƵŬƐŝ<ŽƌƉŽƌĂƐŝ
ϯ͘ ZŝƐŝŬŽ <ĞŐĂŐĂůĂŶ WĞƌƐĞƌŽĂŶ ĂůĂŵ DĞŵĞŶƵŚŝ WĞƌĂƚƵƌĂŶ WĞƌƵŶĚĂŶŐͲhŶĚĂŶŐĂŶ zĂŶŐ ĞƌůĂŬƵ ĚĂůĂŵ
/ŶĚƵƐƚƌŝWĞŵďŝĂLJĂĂŶ
ϰ͘ ZŝƐŝŬŽWĞƌƵďĂŚĂŶdĞŬŶŽůŽŐŝ
ϱ͘ ZŝƐŝŬŽ<ĞůĂŶŐŬĂĂŶ^ƵŵďĞƌĂLJĂ
ϲ͘ ZŝƐŝŬŽZĞƉƵƚĂƐŝ
ϳ͘ ZŝƐŝŬŽKƉĞƌĂƐŝŽŶĂů
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͘ ZŝƐŝŬŽhŵƵŵ
ϭ͘ ZŝƐŝŬŽWĞƌĞŬŽŶŽŵŝĂŶ
Ϯ͘ ZŝƐŝŬŽ^ŽƐŝĂůĚĂŶ<ĞĂŵĂŶĂŶ
ϯ͘ ZŝƐŝŬŽ<ĞďŝũĂŬĂŶDŽŶĞƚĞƌ
ϰ͘ ZŝƐŝŬŽWĞƌƐĂŝŶŐĂŶhƐĂŚĂ
ϱ͘ ZŝƐŝŬŽ/ŶǀĞƐƚĂƐŝĂƚĂƵŬƐŝ<ŽƌƉŽƌĂƐŝ
ϲ͘ ZŝƐŝŬŽWĞƌƵďĂŚĂŶdĞŬŶŽůŽŐŝ
͘ Z/^/<K/Es ^d^/zE' Z</dE E'EK>/'^/
1. ZŝƐŝŬŽƚŝĚĂŬůŝŬƵŝĚŶLJĂKďůŝŐĂƐŝ
2. ZŝƐŝŬŽŐĂŐĂůďĂLJĂƌ
WĞŶŐƵŶŐŬĂƉĂŶ&ĂŬƚŽƌZŝƐŝŬŽƐĞůĞŶŐŬĂƉŶLJĂĚĂƉĂƚĚŝůŝŚĂƚƉĂĚĂĂďs/
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/͘ W EtZEhDhD Z< >E:hdE
W EtZEhDhD Z< >E:hdE
K>/'^/ Z< >E:hdEs//EKDK/>&/EE E'Ed/E'<dhE'd dW
E'EdZ' dEzE'/,/DWhE^ ^ZZƉϱ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;>/DdZ/>/hEZhW/,Ϳ
ĚĞŶŐĂŶŝŶŝWĞƌƐĞƌŽĂŶĂŬĂŶŵĞŶĞƌďŝƚŬĂŶĚĂŶŵĞŶĂǁĂƌŬĂŶ͗
K>/'^/ Z< >E:hdEs//EKDK/>&/EE E'Ed/E'<dhE'd dW d,W/d,hEϮϬϮϱ
E'E:hD>,WK<K<K>/'^/^ ^ZZƉϭ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ (SATU TRILIUN RUPIAH) (“OBLIGASI”)
KďůŝŐĂƐŝƚĞƌĚŝƌŝĚĂƌŝϯ;ƚŝŐĂͿƐĞƌŝ͕LJĂŝƚƵKďůŝŐĂƐŝ^Ğƌŝ͕^Ğƌŝ͕ĚĂŶ^ĞƌŝLJĂŶŐŵĂƐŝŶŐͲŵĂƐŝŶŐĚŝƚĂǁĂƌŬĂŶƐĞďĞƐĂƌϭϬϬй;ƐĞƌĂƚƵƐ
ƉĞƌƐĞŶͿĚĂƌŝũƵŵůĂŚWŽŬŽŬ KďůŝŐĂƐŝ͘KďůŝŐĂƐŝŝŶŝĚŝƚĞƌďŝƚŬĂŶ ƚĂŶƉĂǁĂƌŬĂƚŬĞĐƵĂůŝ^ĞƌƚŝĨŝŬĂƚ:ƵŵďŽKďůŝŐĂƐŝLJĂŶŐĚŝƚĞƌďŝƚŬĂŶ
ĂƚĂƐŶĂŵĂWd<ƵƐƚŽĚŝĂŶ ^ĞŶƚƌĂů ĨĞŬ/ŶĚŽŶĞƐŝĂ;“KSEI”Ϳ͘KďůŝŐĂƐŝŝŶŝŵĞŵďĞƌŝŬĂŶƉŝůŝŚĂŶďĂŐŝŵĂƐLJĂƌĂŬĂƚƵŶƚƵŬŵĞŵŝůŝŚƐĞƌŝ
KďůŝŐĂƐŝLJĂŶŐĚŝŬĞŚĞŶĚĂŬŝ ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ^Ğƌŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ ZƉϱϮϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ůŝŵĂ ƌĂƚƵƐ ĚƵĂ ƉƵůƵŚ ŵŝůŝĂƌ
ZƵƉŝĂŚͿĚĞŶŐĂŶƚŝŶŐŬĂƚďƵŶŐĂƚĞƚĂƉKďůŝŐĂƐŝƐĞďĞƐĂƌϲ͕ϰϱй;ĞŶĂŵŬŽŵĂ ĞŵƉĂƚůŝŵĂƉĞƌƐĞŶͿ͘:ĂŶŐŬĂǁĂŬƚƵ
KďůŝŐĂƐŝ^ĞƌŝĂĚĂůĂŚϯϳϬ;ƚŝŐĂƌĂƚƵƐƚƵũƵŚ ƉƵůƵŚͿ,Ăƌŝ<ĂůĞŶĚĞƌ ƚĞƌŚŝƚƵŶŐƐĞũĂŬdĂŶŐŐĂů ŵŝƐŝ͘WĞŵďĂLJĂƌĂŶ
KďůŝŐĂƐŝĚŝůĂŬƵŬĂŶƐĞĐĂƌĂƉĞŶƵŚ ;ďƵůůĞƚƉĂLJŵĞŶƚͿƐĞďĞƐĂƌϭϬϬй;ƐĞƌĂƚƵƐƉĞƌƐĞŶͿĚĂƌŝ:ƵŵůĂŚWŽŬŽŬ KďůŝŐĂƐŝ
^ĞƌŝƉĂĚĂƐĂĂƚũĂƚƵŚƚĞŵƉŽKďůŝŐĂƐŝ^Ğƌŝ͘
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ^Ğƌŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ ZƉϴϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ĚĞůĂƉĂŶ ƉƵůƵŚ ŵŝůŝĂƌZƵƉŝĂŚͿ
ĚĞŶŐĂŶƚŝŶŐŬĂƚďƵŶŐĂƚĞƚĂƉKďůŝŐĂƐŝƐĞďĞƐĂƌϲ͕ϴϱй;ĞŶĂŵŬŽŵĂĚĞůĂƉĂŶůŝŵĂƉĞƌƐĞŶͿ͘:ĂŶŐŬĂǁĂŬƚƵKďůŝŐĂƐŝ
^Ğƌŝ ĂĚĂůĂŚ ϯ ;ƚŝŐĂͿƚĂŚƵŶ ƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ dĂŶŐŐĂů ŵŝƐŝ͘WĞŵďĂLJĂƌĂŶ KďůŝŐĂƐŝĚŝůĂŬƵŬĂŶ ƐĞĐĂƌĂ ƉĞŶƵŚ
;ďƵůůĞƚ ƉĂLJŵĞŶƚͿƐĞďĞƐĂƌ ϭϬϬй ;ƐĞƌĂƚƵƐƉĞƌƐĞŶͿ ĚĂƌŝ:ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ^Ğƌŝ ƉĂĚĂ ƐĂĂƚũĂƚƵŚ ƚĞŵƉŽ
KďůŝŐĂƐŝ^Ğƌŝ͘
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬ KďůŝŐĂƐŝ ^Ğƌŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ ZƉϰϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ĞŵƉĂƚ ƌĂƚƵƐ ŵŝůŝĂƌZƵƉŝĂŚͿ
ĚĞŶŐĂŶƚŝŶŐŬĂƚďƵŶŐĂƚĞƚĂƉKďůŝŐĂƐŝƐĞďĞƐĂƌϳ͕ϭϬй;ƚƵũƵŚŬŽŵĂƐĂƚƵŶŽůƉĞƌƐĞŶͿ͘:ĂŶŐŬĂǁĂŬƚƵKďůŝŐĂƐŝ^Ğƌŝ
ĂĚĂůĂŚϱ;ůŝŵĂͿƚĂŚƵŶƚĞƌŚŝƚƵŶŐƐĞũĂŬdĂŶŐŐĂů ŵŝƐŝ͘WĞŵďĂLJĂƌĂŶKďůŝŐĂƐŝĚŝůĂŬƵŬĂŶƐĞĐĂƌĂƉĞŶƵŚ;ďƵůůĞƚ
ƉĂLJŵĞŶƚͿƐĞďĞƐĂƌϭϬϬй ;ƐĞƌĂƚƵƐƉĞƌƐĞŶͿĚĂƌŝ:ƵŵůĂŚWŽŬŽŬ KďůŝŐĂƐŝ^ĞƌŝƉĂĚĂƐĂĂƚũĂƚƵŚ ƚĞŵƉŽKďůŝŐĂƐŝ
^Ğƌŝ͘
KďůŝŐĂƐŝŝŶŝĚŝƚĂǁĂƌŬĂŶĚĞŶŐĂŶŶŝůĂŝϭϬϬй;ƐĞƌĂƚƵƐƉĞƌƐĞŶͿĚĂƌŝũƵŵůĂŚƉŽŬŽŬ͘ ƵŶŐĂKďůŝŐĂƐŝĚŝďĂLJĂƌŬĂŶƐĞƚŝĂƉϯ;ƚŝŐĂͿďƵůĂŶ
ƐĞƐƵĂŝĚĞŶŐĂŶ dĂŶŐŐĂůWĞŵďĂLJĂƌĂŶ ƵŶŐĂ͘WĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝƉĞƌƚĂŵĂĂŬĂŶ ĚŝůĂŬƵŬĂŶ ƉĂĚĂ ƚĂŶŐŐĂů ϯ KŬƚŽďĞƌ
ϮϬϮϱ͕ ƐĞĚĂŶŐŬĂŶ WĞŵďĂLJĂƌĂŶ ƵŶŐĂKďůŝŐĂƐŝƚĞƌĂŬŚŝƌƐĞŬĂůŝŐƵƐũĂƚƵŚ ƚĞŵƉŽŵĂƐŝŶŐͲŵĂƐŝŶŐKďůŝŐĂƐŝĂĚĂůĂŚƉĂĚĂƚĂŶŐŐĂů
ϭϯ:ƵůŝϮϬϮϲƵŶƚƵŬ KďůŝŐĂƐŝ^Ğƌŝ͕ϯ:ƵůŝϮϬϮϴƵŶƚƵŬ KďůŝŐĂƐŝ^Ğƌŝ͕ĚĂŶϯ:ƵůŝϮϬϯϬƵŶƚƵŬ KďůŝŐĂƐŝ^Ğƌŝ͘
K>/'^/ Z< >E:hdE s/ /EKDK/> &/EE E'E d/E'<d hE' d dW d,W // Eͬdh d,W ^ >E:hdEz ;:/< Ϳ <E
/d Edh<E < Dh/E͘
>DZE'<W E Z/dEK>/'^//E/͕W Z^ ZKEd >,D DW ZK> ,,^/>W D Z/E'<dEd^^hZd,hdE'
:E'<WE:E'Z/
WdW D Z/E'<d & </EKE ^/;W &/EKͿ͗
ŝĚ Ͳ
;ŽƵďůĞDŝŶƵƐͿ
Wd/EKDK/>&/EE /EKE ^/
<ĞŐŝĂƚĂŶhƐĂŚĂ͗
WĞŵďŝĂLJĂĂŶ/ŶǀĞƐƚĂƐŝ͕WĞŵďŝĂLJĂĂŶDŽĚĂů <ĞƌũĂ͕WĞŵďŝĂLJĂĂŶDƵůƚŝŐƵŶĂ͕WĞŵďŝĂLJĂĂŶ^ĞǁĂKƉĞƌĂƐŝĚĂŶWĞŵďŝĂLJĂĂŶ
^LJĂƌŝĂŚ
ĞƌŬĞĚƵĚƵŬĂŶ Ěŝ:ĂŬĂƌƚĂdŝŵƵƌ͕/ŶĚŽŶĞƐŝĂ
<ĂŶƚŽƌ WƵƐĂƚ͗ <ĂŶƚŽƌ ĂďĂŶŐ͗
/ŶĚŽŵŽďŝůdŽǁĞƌ͕>ƚ͘ϴ WĞƌĞƐĞŵďĞƌϮϬϮϰ͕WĞƌƐĞƌŽĂŶŵĞŵŝůŝŬŝϮϭϬ<ĂŶƚŽƌ
:ů͘D͘d͘,ĂƌLJŽŶŽ <Ăǀ͘ϭϭ͕:ĂŬĂƌƚĂdŝŵƵƌϭϯϯϯϬ ĂďĂŶŐ͕ϯϲ<ĂŶƚŽƌ^ĞůĂŝŶ<ĂŶƚŽƌ ĂďĂŶŐĚĂŶϴhŶŝƚ
dĞůƉ͗͘;ϬϮϭͿϮϵϭϴϱϰϬϬ ^LJĂƌŝĂŚLJĂŶŐƚĞƌƐĞďĂƌĚŝǁŝůĂLJĂŚ:ĂďŽĚĞƚĂďĞŬ͕ :ĂǁĂ͕Ăůŝ͕
ŵĂŝů͗ĐŽƌƉŽƌĂƚĞ͘ƐĞĐƌĞƚĂƌLJΛŝŶĚŽŵŽďŝůĨŝŶĂŶĐĞ͘ĐŽŵ EƵƐĂdĞŶŐŐĂƌĂ͕^ƵŵĂƚĞƌĂ͕<ĂůŝŵĂŶƚĂŶ͕^ƵůĂǁĞƐŝĚĂŶ
ǁǁǁ͘ŝŶĚŽŵŽďŝůĨŝŶĂŶĐĞ͘ĐŽŵ WĂƉƵĂ͘
Z/^/<KhdDzE'/,W/W Z^ ZKE>,Z/^/<KW D/zE͕z/dh< d/<DDWhEE^,ͬ /dhZhEdh<
D DzZ < D>/ &^/>/d^ W D/zE zE' / Z/<E͕ E W/> :hD>,Ez h<hW Dd Z/> Wd
D DW E'Zh,/</E Z:W Z^ ZKE͘Z/^/<KzE'DhE'</E/,W//Es ^dKZW D >/K>/'^/>,d/<>/<h/Ez
K>/'^/zE'/dtZ<E>DW EtZEhDhD/E/zE'EdZ>/E/^ <E<Z Edh:hEW D >/E
K>/'^/^ '//Es ^d^/:E'<WE:E'͘
1
Page 22
PT INDOMOBIL FINANCE INDONESIA
< d ZE'E d EdE' K>/'^/zE'<E/d Z/d<E
ϭ͘ hDhD
EDK>/'^/
KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs//ŶĚŽŵŽďŝů&ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚ ƵŶŐĂdĞƚĂƉdĂŚĂƉ/dĂŚƵŶϮϬϮϱ͘
: E/^K>/'^/
KďůŝŐĂƐŝŝŶŝĚŝƚĞƌďŝƚŬĂŶ ƚĂŶƉĂǁĂƌŬĂƚ͕ ŬĞĐƵĂůŝ^ĞƌƚŝĨŝŬĂƚ :ƵŵďŽKďůŝŐĂƐŝ LJĂŶŐĚŝƚĞƌďŝƚŬĂŶƵŶƚƵŬĚŝĚĂĨƚĂƌŬĂŶ ĂƚĂƐ
ŶĂŵĂ <^ /ƐĞďĂŐĂŝďƵŬƚŝŚƵƚĂŶŐƵŶƚƵŬŬĞƉĞŶƚŝŶŐĂŶWĞŵĞŐĂŶŐKďůŝŐĂƐŝ͘KďůŝŐĂƐŝ ŝŶŝĚŝĚĂĨƚĂƌŬĂŶ ĂƚĂƐŶĂŵĂ <^ /
ƵŶƚƵŬ ŬĞƉĞŶƚŝŶŐĂŶ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐĚŝ <^ / LJĂŶŐ ƐĞůĂŶũƵƚŶLJĂ ƵŶƚƵŬ ŬĞƉĞŶƚŝŶŐĂŶ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĚĂŶ
ĚŝĚĂĨƚĂƌŬĂŶƉĂĚĂƚĂŶŐŐĂůĚŝƐĞƌĂŚŬĂŶŶLJĂ^ĞƌƚŝĨŝŬĂƚ:ƵŵďŽKďůŝŐĂƐŝŽůĞŚWĞƌƐĞƌŽĂŶŬĞƉĂĚĂ<^ /͘ƵŬƚŝŬĞƉĞŵŝůŝŬĂŶ
KďůŝŐĂƐŝ ďĂŐŝ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĂĚĂůĂŚ <ŽŶĨŝƌŵĂƐŝ dĞƌƚƵůŝƐ LJĂŶŐ ĚŝƚĞƌďŝƚŬĂŶ ŽůĞŚ<^ /͕ WĞƌƵƐĂŚĂĂŶ ĨĞŬ ĂƚĂƵ
ĂŶŬ<ƵƐƚŽĚŝĂŶ͘
,Z'W EtZE
ϭϬϬй;ƐĞƌĂƚƵƐƉĞƌƐĞŶͿĚĂƌŝEŝůĂŝEŽŵŝŶĂů KďůŝŐĂƐŝ͘
,^/>W D Z/E'<dE K>/'^/
hŶƚƵŬ ŵĞŵĞŶƵŚŝ WĞƌĂƚƵƌĂŶ K:< EŽ͘ ϳͬϮϬϭϳ ĚĂŶ WĞƌĂƚƵƌĂŶ K:< EŽ͘ ϰϵͬϮϬϮϬ͕ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞůĂŬƵŬĂŶ
ƉĞŵĞƌŝŶŐŬĂƚĂŶLJĂŶŐĚŝůĂŬƐĂŶĂŬĂŶ ŽůĞŚPT Pemeringkat Efek Indonesia (“W &/EK”)͘
ĞƌĚĂƐĂƌŬĂŶ ŚĂƐŝů ƉĞŵĞƌŝŶŐŬĂƚĂŶ ĂƚĂƐ ƐƵƌĂƚ ƵƚĂŶŐ ũĂŶŐŬĂ ƉĂŶũĂŶŐ ƐĞƐƵĂŝ ƐƵƌĂƚ EŽ͘ ZͲϭϰϴͬW &Ͳ/Zͬ///ͬϮϬϮ ϱ
ƚĞƌƚĂŶŐŐĂů ϯDĂƌĞƚϮϬϮϱƵŶƚƵŬƉĞƌŝŽĚĞϯDĂƌĞƚϮϬϮϱƐĂŵƉĂŝĚĞŶŐĂŶϭDĂƌĞƚϮϬϮϲ͕ KďůŝŐĂƐŝŝŶŝŵĞŶĚĂƉĂƚŬĂŶ
ƉĞƌŝŶŐŬĂƚ͗
ŝĚͲ
;ŽƵďůĞDŝŶƵƐͿ
>ĞŵďĂŐĂ WĞŵĞƌŝŶŐŬĂƚ ĨĞŬ ĚĂůĂŵ ŚĂů ŝŶŝ WĞĨŝŶĚŽ ƚŝĚĂŬ ŵĞŵŝůŝŬŝ ŚƵďƵŶŐĂŶ ĨŝůŝĂƐŝ ĚĞŶŐĂŶ WĞƌƐĞƌŽĂŶ
ƐĞďĂŐĂŝŵĂŶĂ ĚŝĚĞĨŝŶŝƐŝŬĂŶĚĂůĂŵ ŬĞƚĞŶƚƵĂŶWĂƐĂůϭĂŶŐŬĂ/hŶĚĂŶŐͲhŶĚĂŶŐ WĂƐĂƌDŽĚĂů͘
WĞƌƐĞƌŽĂŶǁĂũŝď ŵĞŶLJĂŵƉĂŝŬĂŶ ƉĞƌŝŶŐŬĂƚ ƚĂŚƵŶĂŶ ĂƚĂƐ KďůŝŐĂƐŝ ŬĞƉĂĚĂ K:< ƉĂůŝŶŐ ůĂŵďĂƚ ϭϬ;ƐĞƉƵůƵŚͿ ,Ăƌŝ
<ĞƌũĂ ƐĞƚĞůĂŚ ďĞƌĂŬŚŝƌŶLJĂ ŵĂƐĂ ďĞƌůĂŬƵ ƉĞƌŝŶŐŬĂƚ ƚĞƌĂŬŚŝƌ ƐĂŵƉĂŝ ĚĞŶŐĂŶ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞŶLJĞůĞƐĂŝŬĂŶ
ƐĞůƵƌƵŚŬĞǁĂũŝďĂŶLJĂŶŐƚĞƌŬĂŝƚĚĞŶŐĂŶKďůŝŐĂƐŝLJĂŶŐĚŝƚĞƌďŝƚŬĂŶ͕ƐĞďĂŐĂŝŵĂŶĂ ĚŝĂƚƵƌĚĂůĂŵWĞƌĂƚƵƌĂŶK:<EŽ͘
ϰϵͬϮϬϮϬ͘
W Zd/DE'E ;Zd/KE> ͿZ/W &/EK
&ĂŬƚŽƌͲĨĂŬƚŽƌ ƉĞŶĚƵŬƵŶŐƉĞƌŝŶŐŬĂƚƚĞƌƐĞďƵƚĂĚĂůĂŚ͗
• ƵŬƵŶŐĂŶ <ƵĂƚĚĂƌŝ 'ƌƵƉ^Ăůŝŵ͘W &/EK ŵĞŵĂŶĚĂŶŐ WĞƌƐĞƌŽĂŶƐĞďĂŐĂŝĂŶĂŬ ƉĞƌƵƐĂŚĂĂŶƐƚƌĂƚĞŐŝƐ ĚĂƌŝ
^Ăůŝŵ 'ƌŽƵƉ͕LJĂŶŐŵĞŶLJŝƌĂƚŬĂŶ ŬŽŵŝƚŵĞŶ ƵŶƚƵŬŵĞŵďĞƌŝŬĂŶ ĚƵŬƵŶŐĂŶLJĂŶŐŬƵĂƚ ĚĂƌŝ'ƌƵƉ͕ƚŝĚĂŬŚĂŶLJĂ
ƐĞůĂŵĂ ĞŬƐƉĂŶƐŝ ďŝƐŶŝƐ ƚĞƚĂƉŝ ũƵŐĂ ũŝŬĂ ƚĞƌũĂĚŝ ŬĞƐƵůŝƚĂŶ ŬĞƵĂŶŐĂŶ͘ WĂĚĂ ƚĂŚƵŶ ϮϬϮϬ͕ƉĞŵĞŐĂŶŐ ƐĂŚĂŵ
ŵĞŶƵŶũƵŬŬĂŶ ĚƵŬƵŶŐĂŶ ŵĞƌĞŬĂ LJĂŶŐ ŬƵĂƚ ĚĞŶŐĂŶ ŵĞŵďĞƌŝŬĂŶ ƐƵŶƚŝŬĂŶ ŵŽĚĂů ŬĞƉĂĚĂ WĞƌƐĞƌŽĂŶ͕
ƐĞŚŝŶŐŐĂŵĞŵƉĞƌŬƵĂƚ ƐƚƌƵŬƚƵƌƉĞƌŵŽĚĂůĂŶWĞƌƐĞƌŽĂŶ͘WĞƌƐĞƌŽĂŶũƵŐĂĚŝƵŶƚƵŶŐŬĂŶĚĂƌŝƉĞƌĂŶŶLJĂƐĞďĂŐĂŝ
ƉĞƌƵƐĂŚĂĂŶƉĞŵďŝĂLJĂĂŶƉŝůŝŚĂŶďĂŐŝĚĞĂůĞƌŽƚŽŵŽƚŝĨ/ŶĚŽŵŽďŝů'ƌŽƵƉ͕ŵĞŵƉĞƌŽůĞŚƉŽƌƐŝLJĂŶŐĐƵŬƵƉďĞƐĂƌ
ĚĂƌŝ ŬĞƐĞůƵƌƵŚĂŶ ƉĞŶũƵĂůĂŶ 'ƌƵƉ͕ ƌĂƚĂͲƌĂƚĂ ϱϲй ƐĞůĂŵĂ ƚŝŐĂ ƚĂŚƵŶ ƚĞƌĂŬŚŝƌ͕ LJĂŶŐ ŬĂŵŝ ŚĂƌĂƉŬĂŶ ĂŬĂŶ
ďĞƌŬĞůĂŶũƵƚĂŶĚĂůĂŵ ũĂŶŐŬĂ ŵĞŶĞŶŐĂŚĚĂŶƉĂŶũĂŶŐ͘ ^Ăůŝŵ 'ƌŽƵƉĂĚĂůĂŚƐĂůĂŚ ƐĂƚƵŐƌƵƉďŝƐŶŝƐƚĞƌŬĞŵƵŬĂ
Ěŝ/ŶĚŽŶĞƐŝĂ͕LJĂŶŐďĞƌŐĞƌĂŬĚŝďĞƌďĂŐĂŝůŝŶŝďŝƐŶŝƐ͕ĚĂŶŬĂŵŝďĞƌƉĂŶĚĂŶŐĂŶďĂŚǁĂ'ƌƵƉĚĂƉĂƚŵĞŵďĞƌŝŬĂŶ
ĚƵŬƵŶŐĂŶůƵĂƌďŝĂƐĂŬĞƉĂĚĂWĞƌƐĞƌŽĂŶũŝŬĂĚŝƉĞƌůƵŬĂŶ͘
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• WŽƐŝƐŝ ƉĂƐĂƌ LJĂŶŐ ƐĂŶŐĂƚ ŬƵĂƚ͘ W &/EK ŵĞŵƉĞƌŬŝƌĂŬĂŶ ƉŽƐŝƐŝ ƉĂƐĂƌ WĞƌƐĞƌŽĂŶĂŬĂŶ ƚĞƚĂƉ ŬƵĂƚ ĚĂůĂŵ
ũĂŶŐŬĂ ƉĞŶĚĞŬŚŝŶŐŐĂ ŵĞŶĞŶŐĂŚ͕ ĚŝĚƵŬƵŶŐ ŽůĞŚũĂƌŝŶŐĂŶ LJĂŶŐ ůƵĂƐ ĚĂŶ ƐŝŶĞƌŐŝLJĂŶŐ ŬƵĂƚ ĚĞŶŐĂŶďŝƐŶŝƐ
/ŶĚŽŵŽďŝů 'ƌŽƵƉ͘ĞŶŐĂŶ ũĂƌŝŶŐĂŶĚŝƐƚƌŝďƵƐŝ LJĂŶŐůƵĂƐ͕ LJĂŶŐ ƚĞƌĚŝƌŝĚĂƌŝϮϰϲŬĂŶƚŽƌĐĂďĂŶŐ LJĂŶŐƚĞƌƐĞďĂƌ
ĚŝƐĞůƵƌƵŚ/ŶĚŽŶĞƐŝĂĚĂŶŚƵďƵŶŐĂŶLJĂŶŐďĂŝŬĚĞŶŐĂŶĚĞĂůĞƌŽƚŽŵŽƚŝĨ ďĞƐĂƌ͕WĞƌƐĞƌŽĂŶĂŬĂŶƚĞƚĂƉŵĞŶũĂĚŝ
ƐĂůĂŚ ƐĂƚƵ ƉĞƌƵƐĂŚĂĂŶ ƉĞŵďŝĂLJĂĂŶ ƚĞƌŬĞŵƵŬĂ Ěŝ/ŶĚŽŶĞƐŝĂ ĚĞŶŐĂŶƉĂŶŐƐĂ ƉĂƐĂƌ ĚĂůĂŵ ŚĂůĂƐĞƚ ůĂLJĂŶĂŶ
ďĞƌƐŝŚ;E^ͿƐĞŬŝƚĂƌϮ͕ϬйͲϮ͕ϯйĚĂƌŝƚŽƚĂů ŝŶĚƵƐƚƌŝƉĞŵďŝĂLJĂĂŶ ƐĞůĂŵĂϭϴͲϮϰďƵůĂŶŬĞĚĞƉĂŶ͘,ŝŶŐŐĂ ƚĂŚƵŶ
ĨŝƐŬĂů ϮϬϮϰ͕ WĞƌƐĞƌŽĂŶ ŵĞŶĐĂƚĂƚ E^ ƐĞďĞƐĂƌ ZƉϭϱ͕Ϭ ƚƌŝůŝƵŶ͕ ŵĞŶŐƵĂƐĂŝ ƉĂŶŐƐĂ ƉĂƐĂƌ ƐĞďĞƐĂƌ Ϯ͕ϭй
ĚŝŝŶĚƵƐƚƌŝƉĞŵďŝĂLJĂĂŶ͘
• WƌŽĨŝů>ŝŬƵŝĚŝƚĂƐzĂŶŐ<ƵĂƚ͘W &/EKŵĞŶŝůĂŝůŝŬƵŝĚŝƚĂƐ WĞƌƐĞƌŽĂŶĐƵŬƵƉŬƵĂƚ͕ĚĞŶŐĂŶƌĂƐŝŽůŝŬƵŝĚŝƚĂƐ ũĂŶŐŬĂ
ƉĞŶĚĞŬĚŝŚĂƌĂƉŬĂŶ ďĞƌĂĚĂ ĚŝĂƚĂƐ ϭϭϬй ĚĂůĂŵ ũĂŶŐŬĂ ƉĞŶĚĞŬŚŝŶŐŐĂ ŵĞŶĞŶŐĂŚ͕ ĚŝďĂŶĚŝŶŐŬĂŶ ĚĞŶŐĂŶ
ĂŶŐŬĂ &zϮϬϮϰĚĂŶ &zϮϬϮϯŵĂƐŝŶŐͲŵĂƐŝŶŐ ƐĞďĞƐĂƌϭϰϳ͕ϬйĚĂŶϭϯϯ͕ϴй͘WĞƌƐĞƌŽĂŶĚŝŶŝůĂŝŵĂŵƉƵ ŵĞŶĐĂƌŝ
ďĞƌďĂŐĂŝƐƵŵďĞƌƉĞŶĚĂŶĂĂŶ͕ ďĂŝŬĚĂƌŝďĂŶŬĚĂůĂŵ ŶĞŐĞƌŝŵĂƵƉƵŶ ůƵĂƌŶĞŐĞƌŝ͕ƐĞƌƚĂƉĂƐĂƌŵŽĚĂů͘ ,ŝŶŐŐĂ
&zϮϬϮϰ͕WĞƌƐĞƌŽĂŶŵĞŶĐĂƚĂƚ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚLJĂŶŐďĞůƵŵƚĞƌƉĂŬĂŝƐĞďĞƐĂƌZƉϴ͕ϬƚƌŝůŝƵŶĚĂƌŝďĞƌďĂŐĂŝďĂŶŬ͕
ƐĞŬĂůŝŐƵƐŵĞŶƵŶũƵŬŬĂŶƌĞŬĂŵũĞũĂŬŶLJĂĚŝƉĂƐĂƌŵŽĚĂůƵƚĂŶŐŵĞůĂůƵŝƉĞŶĞ ƌďŝƚĂŶŽďůŝŐĂƐŝĚĞŶŐĂŶƌĞŬĂŵũĞũĂŬ
ƉĞŵďĂLJĂƌĂŶ LJĂŶŐ ďĂŝŬ͘ >ĞďŝŚ ůĂŶũƵƚ͕ ƚŽƚĂů ƉĞŶĞƌďŝƚĂŶ ŽďůŝŐĂƐŝ ŬŽƌƉŽƌĂƐŝ ƐĞũĂŬ ϮϬϬϰƚŽƚĂů ŽďůŝŐĂƐŝ LJĂŶŐ
ĚŝƚĞƌďŝƚŬĂŶƐĞďĞƐĂƌZƉϭϵ͕ϬƚƌŝůŝƵŶ͕ĚĂŶLJĂŶŐďĞƌĞĚĂƌƐĞďĞƐĂƌZƉϰ͕ϯƚƌŝůŝƵŶŚŝŶŐŐĂĞƐĞŵďĞƌϮϬϮϰ͘^ĞůĂŝŶŝƚƵ͕
WĞƌƐĞƌŽĂŶŵĞŶŐĞůŽůĂŵŝƐŵĂƚĐŚ ŵĂƚĂ ƵĂŶŐĂƐŝŶŐ ũĂŶŐŬĂ ƉĞŶĚĞŬŶLJĂĚĂŶƐĞĐĂƌĂƚĞŬƵŶŵĞŶũĂŐĂ ŐĂƉƉŽƐŝƚŝĨ
ŵĞůĂůƵŝƚƌĂŶƐĂŬƐŝůŝŶĚƵŶŐŶŝůĂŝĚĂŶƐǁĂƉŵĂƚĂ ƵĂŶŐƐŝůĂŶŐ͘
• WƌŽĨŝƚĂďŝůŝƚĂƐ <ƵĂƚ͘W &/EK ŵĞŵĂŶĚĂŶŐ ƉƌŽĨŝƚĂďŝůŝƚĂƐ WĞƌƐĞƌŽĂŶƚĞƚĂƉŬƵĂƚĚĂůĂŵ ũĂŶŐŬĂ ƉĞŶĚĞŬŚŝŶŐŐĂ
ŵĞŶĞŶŐĂŚ ƚĞƌƵƚĂŵĂ ĚŝƐĞďĂďŬĂŶ ŽůĞŚĨŽŬƵƐŶLJĂ ƉĂĚĂ ƉĞŵďŝĂLJĂĂŶ ŬĞŶĚĂƌĂĂŶ ŶŝĂŐĂ ĚĂŶ ŵŽďŝů͕ ƉĂĚĂ ƐĂĂƚ
LJĂŶŐ ƐĂŵĂ ƉĞƌƵƐĂŚĂĂŶ ƚĞƌƵƐ ŵĞŶŐĞŵďĂŶŐŬĂŶ ďŝƐŶŝƐ ƉĞŵďŝĂLJĂĂŶ ƐĞƉĞĚĂ ŵŽƚŽƌ͕ LJĂŶŐ ŵĞŶĂǁĂƌŬĂŶ
ƉĞŶŐĞŵďĂůŝĂŶ ƚŝŶŐŐŝ͘ <ƵĂůŝƚĂƐ ĂƐĞƚŶLJĂ LJĂŶŐ ĚŝĂƚĂƐ ƌĂƚĂͲƌĂƚĂ ďĞƌŬŽŶƚƌŝďƵƐŝƉĂĚĂ ƉĞŶŝŶŐŬĂƚĂŶ ĞĨŝƐŝĞŶƐŝŶLJĂ͕
ŬĂƌĞŶĂ WĞƌƵƐĂŚĂĂŶ ŵĞŵŝůŝŬŝ ĨůĞŬƐŝďŝůŝƚĂƐ ƵŶƚƵŬ ŵĞŶŐƵƌĂŶŐŝ ďŝĂLJĂ ƉĞŶĐĂĚĂŶŐĂŶ͘ ^ĂŵƉĂŝ ĚĞŶŐĂŶ &zϮϬϮϰ͕
ƌĂƐŝŽĐĂĚĂŶŐĂŶ ƚĞƌŚĂĚĂƉEWZ WĞƌƵƐĂŚĂĂŶƚĞƌĐĂƚĂƚ ƐĞďĞƐĂƌϭϴϵ͕ϱй͕ŚĂŶLJĂƚƵƌƵŶƐĞĚŝŬŝƚ ĚĂƌŝϮϬϳ͕ϴйƉĂĚĂ
&zϮϬϮϯ͘W &/EKŵĞŵĂŶĚĂŶŐ ƚŝŶŐŬĂƚ ĐĂĚĂŶŐĂŶLJĂŶŐĚŝďĞŶƚƵŬŽůĞŚWĞƌƐĞƌŽĂŶƚĞůĂŚŵĞŵďĞƌŝŬĂŶďĂŶƚĂůĂŶ
LJĂŶŐ ŶLJĂŵĂŶ ƵŶƚƵŬ ŵĞŶLJĞƌĂƉ ŬĞƌƵŐŝĂŶ ĚĂƌŝ ƉŽƚĞŶƐŝ ŬƌĞĚŝƚ ďĞƌŵĂƐĂůĂŚ Ěŝ ŵĂƐĂ ŵĞŶĚĂƚĂŶŐ ĚĂŶ
ŵĞŵƵŶŐŬŝŶŬĂŶ ďƵŶŐĂ ƉĞƌƵƐĂŚĂĂŶ ƵŶƚƵŬ ŵĞŶŝŶŐŬĂƚŬĂŶ ƚŝŶŐŬĂƚ ƉƌŽĨŝƚĂďŝůŝƚĂƐŶLJĂ͘ DĞƐŬŝƉƵŶ ŵŽĚĞůďŝƐŶŝƐ
ƉĞƌƵƐĂŚĂĂŶŶLJĂ ŵĞŵďƵƚƵŚŬĂŶ ŬĂŶƚŽƌĐĂďĂŶŐ LJĂŶŐ ůƵĂƐ͕ ƐĞŚŝŶŐŐĂ ĞĨŝƐŝĞŶƐŝďŝƐŶŝƐ ŽƉĞƌĂƐŝŽŶĂů ĂŬĂŶ ĚĂƉĂƚ
ĚŝŬĞůŽůĂ͕ŬĂŵŝ ŵĞŵƉƌŽLJĞŬƐŝŬĂŶZĂƐŝŽ ŝĂLJĂƚĞƌŚĂĚĂƉWĞŶĚĂƉĂƚĂŶ ;/ZͿƐĞŬŝƚĂƌϰϬйͲϰϱй͘ŝƐŝƐŝůĂŝŶ͕ZĂƐŝŽ
DĂƌŐŝŶ>ĂďĂKƉĞƌĂƐŝŽŶĂů;KWDͿĂŬĂŶŵĞŵďĂŝŬƐĞƉĞƌƚŝLJĂŶŐŬĂŵŝƉƌŽLJĞŬƐŝŬĂŶƉĂĚĂŬŝƐĂƌĂŶϮϬйͲϮϱй͘
&ĂŬƚŽƌͲĨĂŬƚŽƌ ŵĞŵďĂƚĂƐŝ ƉĞƌŝŶŐŬĂƚƚĞƌƐĞďƵƚĂĚĂůĂŚ͗
• dŝŶŐŬĂƚ ŬŽŵƉĞƚŝƐŝ LJĂŶŐ ŬĞƚĂƚ ĚĂůĂŵ ŝŶĚƵƐƚƌŝ͘ W &/EK ŵĞŶŝůĂŝ WĞƌƐĞƌŽĂŶƚĞƌƵƐͲŵĞŶĞƌƵƐ ŵĞŶŐŚĂĚĂƉŝ
ƉĞƌƐĂŝŶŐĂŶ ŬĞƚĂƚ Ěŝ ŝŶĚƵƐƚƌŝ ƉĞŵďŝĂLJĂĂŶ ĚĞŶŐĂŶ ůĞďŝŚ ĚĂƌŝ ϭϱϬƉĞůĂŬƵ ƵƐĂŚĂ͕ ƚĞƌŵĂƐƵŬ LJĂŶŐ ŵĞŵŝůŝŬŝ
ŚƵďƵŶŐĂŶ ƐƵďƐƚĂŶƐŝĂů ĚĞŶŐĂŶ ďĂŶŬ ĂƚĂƵ ƉƌŝŶƐŝƉĂů ŽƚŽŵŽƚŝĨ͘ DĞƐŬŝƉƵŶ ŵĞŶũĂĚŝ ƉĞƌƵƐĂŚĂĂŶ ƉĞŵďŝĂLJĂĂŶ
ƉŝůŝŚĂŶ ďĂŐŝ /ŶĚŽŵŽďŝů 'ƌŽƵƉ͕ WĞƌƐĞƌŽĂŶƚĞƚĂƉ ƚĞƌƉĂƉĂƌ ƉĞƌƐĂŝŶŐĂŶ ƐĞŝƌŝŶŐ ĚĞŶŐĂŶ ƐƚƌĂƚĞŐŝ ƉĞŵďŝĂLJĂĂŶ
ŵƵůƚŝŵĞƌĞŬ͘ hŶƚƵŬ ŵĞŵƉĞƌƚĂŚĂŶŬĂŶ ƉĞůĂŶŐŐĂŶŶLJĂ͕ WĞƌƐĞƌŽĂŶŵƵŶŐŬŝŶ ƚĞƌƉĂŬƐĂ ŵĞŶƵƌƵŶŬĂŶ ƐƚĂŶĚĂƌ
ƉĞŶũĂŵŝŶĂŶ ĞŵŝƐŝ ĂƚĂƵ ŵĞŶĂǁĂƌŬĂŶ ƐƵŬƵ ďƵŶŐĂ ƉŝŶũĂŵĂŶ LJĂŶŐ ůĞďŝŚ ƌĞŶĚĂŚ͕ ŵƵŶŐŬŝŶ ĚĞŶŐĂŶ
ŵĞŶŐŽƌďĂŶŬĂŶ ŵĂƌŐŝŶ ůĂďĂ ĂƚĂƵ ŬƵĂůŝƚĂƐ ĂƐĞƚŶLJĂ͘ &ĂŬƚŽƌͲĨĂŬƚŽƌ ŝŶŝŬĞŵƵŶŐŬŝŶĂŶ ĂŬĂŶ ƚĞƌƵƐŵĞŶĂŶƚĂŶŐ
ƵƉĂLJĂWĞƌƵƐĂŚĂĂŶƵŶƚƵŬƐĞĐĂƌĂƐƵďƐƚĂŶƐŝĂů ŵĞŵƉĞƌŬƵĂƚŬĞŚĂĚŝƌĂŶďŝƐŶŝƐŶLJĂĚŝŝŶĚƵƐƚƌŝŝŶŝ͘
WĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝŚƵďƵŶŐĂŶĂĨŝůŝĂƐŝĚĞŶŐĂŶWĞĨŝŶĚŽLJĂŶŐďĞƌƚŝŶĚĂŬ ƐĞďĂŐĂŝůĞŵďĂŐĂƉĞŵĞƌŝŶŐŬĂƚ͘
WĞƌƐĞƌŽĂŶĂŬĂŶŵĞůĂŬƵŬĂŶ ƉĞŵĞƌŝŶŐŬĂƚĂŶ ĂƚĂƐ KďůŝŐĂƐŝŝŶŝƐĞƚŝĂƉϭ;ƐĂƚƵͿ ƚĂŚƵŶƐĞŬĂůŝ ƐĞůĂŵĂ ŬĞǁĂũŝďĂŶ ĂƚĂƐ
ĞĨĞŬƚĞƌƐĞďƵƚďĞůƵŵůƵŶĂƐƐĞďĂŐĂŝŵĂŶĂ LJĂŶŐĚŝĂƚƵƌĚĂůĂŵ WĞƌĂƚƵƌĂŶEŽŵŽƌ͗WK:<EŽ͘ϰϵͬϮϬϮϬ͘
3
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Ϯ͘ ^zZdͲ^zZd K>/'^/
:hD>,WK<K<EhE'K>/'^/
KďůŝŐĂƐŝŝŶŝĚŝƚĞƌďŝƚŬĂŶƚĂŶƉĂǁĂƌŬĂƚĚĂŶĚŝƚĂǁĂƌŬĂŶ ĚĞŶŐĂŶŶŝůĂŝϭϬϬй;ƐĞƌĂƚƵƐƉĞƌƐĞŶͿ͕ĚĞŶŐĂŶũƵŵůĂŚƐĞďĞƐĂƌ
ZƉϭ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƐĂƚƵƚƌŝůŝƵŶZƵƉŝĂŚͿLJĂŶŐƚĞƌĚŝƌŝĚĂůĂŵϯ;ƚŝŐĂͿƐĞƌŝLJĂŝƚƵ͗
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬKďůŝŐĂƐŝ^ĞƌŝLJĂŶŐĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ ZƉϱϮϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ůŝŵĂƌĂƚƵƐĚƵĂƉƵůƵŚ
ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĚĞŶŐĂŶ ƚŝŶŐŬĂƚ ďƵŶŐĂ ƚĞƚĂƉ KďůŝŐĂƐŝ ƐĞďĞƐĂƌ ϲ͕ϰϱй ;ĞŶĂŵ ŬŽŵĂ ĞŵƉĂƚ ůŝŵĂ
ƉĞƌƐĞŶͿ͘:ĂŶŐŬĂǁĂŬƚƵ KďůŝŐĂƐŝ^ĞƌŝĂĚĂůĂŚϯϳϬ;ƚŝŐĂƌĂƚƵƐƚƵũƵŚƉƵůƵŚͿ,Ăƌŝ<ĂůĞŶĚĞƌƚĞƌŚŝƚƵŶŐ
ƐĞũĂŬdĂŶŐŐĂů ŵŝƐŝ͘ WĞŵďĂLJĂƌĂŶKďůŝŐĂƐŝĚŝůĂŬƵŬĂŶƐĞĐĂƌĂƉĞŶƵŚ;ďƵůůĞƚƉĂLJŵĞŶƚͿƐĞďĞƐĂƌϭϬϬй
;ƐĞƌĂƚƵƐƉĞƌƐĞŶͿĚĂƌŝ:ƵŵůĂŚWŽŬŽŬKďůŝŐĂƐŝ^ĞƌŝƉĂĚĂƐĂĂƚ ũĂƚƵŚƚĞŵƉŽKďůŝŐĂƐŝ^Ğƌŝ͘
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬKďůŝŐĂƐŝ ^ĞƌŝLJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ ZƉϴϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ĚĞůĂƉĂŶƉƵůƵŚŵŝůŝĂƌ
ZƵƉŝĂŚͿ ĚĞŶŐĂŶƚŝŶŐŬĂƚ ďƵŶŐĂ ƚĞƚĂƉ KďůŝŐĂƐŝƐĞďĞƐĂƌϲ͕ϴϱй;ĞŶĂŵ ŬŽŵĂ ĚĞůĂƉĂŶůŝŵĂ ƉĞƌƐĞŶͿ͘
:ĂŶŐŬĂ ǁĂŬƚƵ KďůŝŐĂƐŝ ^Ğƌŝ ĂĚĂůĂŚ ϯ;ƚŝŐĂͿ ƚĂŚƵŶ ƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ dĂŶŐŐĂů ŵŝƐŝ͘ WĞŵďĂLJĂƌĂŶ
KďůŝŐĂƐŝ ĚŝůĂŬƵŬĂŶ ƐĞĐĂƌĂ ƉĞŶƵŚ ;ďƵůůĞƚ ƉĂLJŵĞŶƚͿ ƐĞďĞƐĂƌ ϭϬϬй ;ƐĞƌĂƚƵƐ ƉĞƌƐĞŶͿĚĂƌŝ :ƵŵůĂŚ
WŽŬŽŬKďůŝŐĂƐŝ^ĞƌŝƉĂĚĂƐĂĂƚũĂƚƵŚƚĞŵƉŽKďůŝŐĂƐŝ^Ğƌŝ͘
^Ğƌŝ ͗ :ƵŵůĂŚ WŽŬŽŬKďůŝŐĂƐŝ ^ĞƌŝLJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĂĚĂůĂŚ ZƉϰϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ĞŵƉĂƚ ƌĂƚƵƐ ŵŝůŝĂƌ
ZƵƉŝĂŚͿĚĞŶŐĂŶƚŝŶŐŬĂƚ ďƵŶŐĂƚĞƚĂƉKďůŝŐĂƐŝƐĞďĞƐĂƌϳ͕ϭϬй;ƚƵũƵŚŬŽŵĂƐĂƚƵŶŽůƉĞƌƐĞŶͿ͘:ĂŶŐŬĂ
ǁĂŬƚƵ KďůŝŐĂƐŝ ^ĞƌŝĂĚĂůĂŚ ϱ;ůŝŵĂͿ ƚĂŚƵŶ ƚĞƌŚŝƚƵŶŐƐĞũĂŬdĂŶŐŐĂů ŵŝƐŝ͘ WĞŵďĂLJĂƌĂŶ KďůŝŐĂƐŝ
ĚŝůĂŬƵŬĂŶ ƐĞĐĂƌĂ ƉĞŶƵŚ ;ďƵůůĞƚ ƉĂLJŵĞŶƚͿ ƐĞďĞƐĂƌ ϭϬϬй ;ƐĞƌĂƚƵƐ ƉĞƌƐĞŶͿ ĚĂƌŝ :ƵŵůĂŚ WŽŬŽŬ
KďůŝŐĂƐŝ^ĞƌŝƉĂĚĂƐĂĂƚ ũĂƚƵŚƚĞŵƉŽKďůŝŐĂƐŝ^Ğƌŝ͘
dE''>W DzZE hE'K>/'^/
ƵŶŐĂKďůŝŐĂƐŝ ĚŝďĂLJĂƌŬĂŶƐĞƚŝĂƉϯ;ƚŝŐĂͿ ďƵůĂŶƐĞƐƵĂŝĚĞŶŐĂŶdĂŶŐŐĂů WĞŵďĂLJĂƌĂŶƵŶŐĂ͘ WĞŵďĂLJĂƌĂŶƵŶŐĂ
KďůŝŐĂƐŝƉĞƌƚĂŵĂĂŬĂŶĚŝůĂŬƵŬĂŶ ƉĂĚĂƚĂŶŐŐĂů ϯKŬƚŽďĞƌϮϬϮϱ͕ƐĞĚĂŶŐŬĂŶWĞŵďĂLJĂƌĂŶƵŶŐĂKďůŝŐĂƐŝƚĞƌĂŬŚŝƌ
ƐĞŬĂůŝŐƵƐũĂƚƵŚƚĞŵƉŽŵĂƐŝŶŐͲŵĂƐŝŶŐ KďůŝŐĂƐŝĂĚĂůĂŚƉĂĚĂƚĂŶŐŐĂů ϭϯ:ƵůŝϮϬϮϲƵŶƚƵŬKďůŝŐĂƐŝ^Ğƌŝ͕ϯ:ƵůŝϮϬϮϴ
ƵŶƚƵŬKďůŝŐĂƐŝ^Ğƌŝ͕ĚĂŶϯ:ƵůŝϮϬϯϬƵŶƚƵŬKďůŝŐĂƐŝ^Ğƌŝ͘
KďůŝŐĂƐŝ ŚĂƌƵƐ ĚŝůƵŶĂƐŝ ĚĞŶŐĂŶŚĂƌŐĂ LJĂŶŐ ƐĂŵĂ ĚĞŶŐĂŶũƵŵůĂŚ WŽŬŽŬKďůŝŐĂƐŝ LJĂŶŐ ƚĞƌƚƵůŝƐ ƉĂĚĂ <ŽŶĨŝƌŵĂƐŝ
dĞƌƚƵůŝƐLJĂŶŐĚŝŵŝůŝŬŝŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝ͕ ĚĞŶŐĂŶŵĞŵƉĞƌŚĂƚŝŬĂŶ ^ĞƌƚŝĨŝŬĂƚ:ƵŵďŽ KďůŝŐĂƐŝĚĂŶŬĞƚĞŶƚƵĂŶ
WĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘
dŝŶŐŬĂƚ ƵŶŐĂKďůŝŐĂƐŝ ŵĞƌƵƉĂŬĂŶ ƉĞƌƐĞŶƚĂƐĞƉĞƌƚĂŚƵŶ ĚĂƌŝŶŝůĂŝŶŽŵŝŶĂů LJĂŶŐ ĚŝŚŝƚƵŶŐďĞƌĚĂƐĂƌŬĂŶ ũƵŵůĂŚ
ŚĂƌŝLJĂŶŐůĞǁĂƚ͕ ĚŝŵĂŶĂ ϭ;ƐĂƚƵͿ ďƵůĂŶĚŝŚŝƚƵŶŐϯϬ;ƚŝŐĂ ƉƵůƵŚͿŚĂƌŝĚĂŶϭ;ƐĂƚƵͿ ƚĂŚƵŶĚŝŚŝƚƵŶŐ ϯϲϬ;ƚŝŐĂƌĂƚƵƐ
ĞŶĂŵƉƵůƵŚͿŚĂƌŝ͘
:ĂĚǁĂůƉĞŵďĂLJĂƌĂŶWŽŬŽŬĚĂŶƵŶŐĂƵŶƚƵŬŵĂƐŝŶŐͲŵĂƐŝŶŐ KďůŝŐĂƐŝĂĚĂůĂŚƐĞďĂŐĂŝŵĂŶĂƚĞƌĐĂŶƚƵŵĚĂůĂŵƚĂďĞů
ĚŝďĂǁĂŚŝŶŝ͗
ƵŶŐĂ ŬĞ͗ ^Ğƌŝ ^Ğƌŝ ^Ğƌŝ
ϭ ϯKŬƚŽďĞƌϮϬϮϱ ϯKŬƚŽďĞƌϮϬϮϱ ϯKŬƚŽďĞƌϮϬϮϱ
Ϯ ϯ:ĂŶƵĂƌŝϮϬϮϲ ϯ:ĂŶƵĂƌŝϮϬϮϲ ϯ:ĂŶƵĂƌŝϮϬϮϲ
ϯ ϯƉƌŝůϮϬϮϲ ϯƉƌŝůϮϬϮϲ ϯƉƌŝůϮϬϮϲ
ϰ ϭϯ:ƵůŝϮϬϮϲ ϯ:ƵůŝϮϬϮϲ ϯ:ƵůŝϮϬϮϲ
ϱ ϯKŬƚŽďĞƌϮϬϮϲ ϯKŬƚŽďĞƌϮϬϮϲ
ϲ ϯ:ĂŶƵĂƌŝϮϬϮϳ ϯ:ĂŶƵĂƌŝϮϬϮϳ
ϳ ϯƉƌŝůϮϬϮϳ ϯƉƌŝůϮϬϮϳ
ϴ ϯ:ƵůŝϮϬϮϳ ϯ:ƵůŝϮϬϮϳ
ϵ ϯKŬƚŽďĞƌϮϬϮϳ ϯKŬƚŽďĞƌϮϬϮϳ
ϭϬ ϯ:ĂŶƵĂƌŝϮϬϮϴ ϯ:ĂŶƵĂƌŝϮϬϮϴ
ϭϭ ϯƉƌŝůϮϬϮϴ ϯƉƌŝůϮϬϮϴ
ϭϮ ϯ:ƵůŝϮϬϮϴ ϯ:ƵůŝϮϬϮϴ
ϭϯ ϯKŬƚŽďĞƌϮϬϮϴ
ϭϰ ϯ:ĂŶƵĂƌŝϮϬϮϵ
ϭϱ ϯƉƌŝůϮϬϮϵ
4
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PT INDOMOBIL FINANCE INDONESIA
ƵŶŐĂ ŬĞ͗ ^Ğƌŝ ^Ğƌŝ ^Ğƌŝ
ϭϲ ϯ:ƵůŝϮϬϮϵ
ϭϳ ϯKŬƚŽďĞƌϮϬϮϵ
ϭϴ ϯ:ĂŶƵĂƌŝϮϬϯϬ
ϭϵ ϯƉƌŝůϮϬϯϬ
ϮϬ ϯ:ƵůŝϮϬϯϬ
W Z,/dhE'E hE'
ƵŶŐĂ KďůŝŐĂƐŝĚŝŚŝƚƵŶŐ ďĞƌĚĂƐĂƌŬĂŶũƵŵůĂŚ ŚĂƌŝLJĂŶŐ ůĞǁĂƚ ƚĞƌŚŝƚƵŶŐƐĞũĂŬdĂŶŐŐĂů ŝƐƚƌŝďƵƐŝ KďůŝŐĂƐŝ^ĞĐĂƌĂ
ůĞŬƚƌŽŶŝŬ͕ĚŝŵĂŶĂ ϭ;ƐĂƚƵͿďƵůĂŶĚŝŚŝƚƵŶŐϯϬ;ƚŝŐĂƉƵůƵŚͿŚĂƌŝĚĂŶϭ;ƐĂƚƵͿƚĂŚƵŶĚŝŚŝƚƵŶŐϯϲϬ;ƚŝŐĂƌĂƚƵƐĞŶĂŵ
ƉƵůƵŚͿ ŚĂƌŝ ĚĂŶ ĂŬĂŶ ĚŝďĂLJĂƌŬĂŶ ƐĞƚŝĂƉ ƚƌŝǁƵůĂŶ ;ϯ ďƵůĂŶͿ ƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ dĂŶŐŐĂů ŵŝƐŝ ƉĂĚĂ dĂŶŐŐĂů
WĞŵďĂLJĂƌĂŶƵŶŐĂKďůŝŐĂƐŝ͘
ƵŶŐĂ ƚĞƌƐĞďƵƚĂŬĂŶ ĚŝďĂLJĂƌŬĂŶ ŽůĞŚWĞƌƐĞƌŽĂŶŬĞƉĂĚĂ WĞŵĞŐĂŶŐKďůŝŐĂƐŝ ŵĞůĂůƵŝ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ<^ /
ƉĂĚĂdĂŶŐŐĂů WĞŵďĂLJĂƌĂŶƵŶŐĂKďůŝŐĂƐŝLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͘
ddZW DzZE hE'
ϭͿ ƵŶŐĂ KďůŝŐĂƐŝ ĂŬĂŶ ĚŝďĂLJĂƌŬĂŶŽůĞŚWĞƌƐĞƌŽĂŶŵĞůĂůƵŝ <^ / ƐĞůĂŬƵŐĞŶWĞŵďĂLJĂƌĂŶ ŬĞƉĂĚĂWĞŵĞŐĂŶŐ
KďůŝŐĂƐŝ ŵĞůĂůƵŝ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ ƉĂĚĂ dĂŶŐŐĂů WĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝ LJĂŶŐ ďĞƌƐĂŶŐŬƵƚĂŶ
ďĞƌĚĂƐĂƌŬĂŶĂĨƚĂƌ WĞŵĞŐĂŶŐZĞŬĞŶŝŶŐ͘
ϮͿ WĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝ ŬĞƉĂĚĂWĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ŵĞůĂůƵŝ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐĚŝůĂŬƵŬĂŶ ŽůĞŚŐĞŶ
WĞŵďĂLJĂƌĂŶƵŶƚƵŬĚĂŶĂƚĂƐ ŶĂŵĂ WĞƌƐĞƌŽĂŶďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶŐĞŶWĞŵďĂLJĂƌĂŶ͘
ϯͿ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ LJĂŶŐ ďĞƌŚĂŬĂƚĂƐ ƵŶŐĂ KďůŝŐĂƐŝ ĂĚĂůĂŚ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ LJĂŶŐ ŶĂŵĂŶLJĂ ƚĞƌĐĂƚĂƚ
ĚĂůĂŵ ĂĨƚĂƌWĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐƉĂĚĂϰ;ĞŵƉĂƚͿ ,Ăƌŝ<ĞƌũĂƐĞďĞůƵŵdĂŶŐŐĂů WĞŵďĂLJĂƌĂŶ ƵŶŐĂKďůŝŐĂƐŝ
ŬĞĐƵĂůŝĚŝƚĞŶƚƵŬĂŶ ůĂŝŶŽůĞŚ<^ /ƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶ<^ /LJĂŶŐďĞƌůĂŬƵ͘ĞŶŐĂŶĚĞŵŝŬŝĂŶ ũŝŬĂƚĞƌũĂĚŝ
ƚƌĂŶƐĂŬƐŝKďůŝŐĂƐŝĚĂůĂŵ ǁĂŬƚƵϰ;ĞŵƉĂƚͿ,Ăƌŝ<ĞƌũĂƐĞďĞůƵŵdĂŶŐŐĂů WĞŵďĂLJĂƌĂŶƵŶŐĂKďůŝŐĂƐŝ͕ƉĞŵďĞůŝ
KďůŝŐĂƐŝLJĂŶŐŵĞŶĞƌŝŵĂƉĞŶŐĂůŝŚĂŶKďůŝŐĂƐŝƚĞƌƐĞďƵƚƚŝĚĂŬďĞƌŚĂŬĂƚĂƐ ƵŶŐĂKďůŝŐĂƐŝƉĂĚĂƉĞƌŝŽĚĞƵŶŐĂ
KďůŝŐĂƐŝLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͕ŬĞĐƵĂůŝĚŝƚĞŶƚƵŬĂŶůĂŝŶŽůĞŚ<^ /ƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶ<^ /LJĂŶŐďĞƌůĂŬƵ͘
ϰͿ WĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝ LJĂŶŐ ƚĞƌƵƚĂŶŐ͕ LJĂŶŐ ĚŝůĂŬƵŬĂŶ ŽůĞŚ WĞƌƐĞƌŽĂŶ ŬĞƉĂĚĂ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ
ŵĞůĂůƵŝŐĞŶWĞŵďĂLJĂƌĂŶ͕ĚŝĂŶŐŐĂƉƉĞŵďĂLJĂƌĂŶůƵŶĂƐŽůĞŚWĞƌƐĞƌŽĂŶ͕ƐĞƚĞůĂŚĚĂŶĂƚĞƌƐĞďƵƚĚŝƚĞƌŝŵĂŽůĞŚ
WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ŵĞůĂůƵŝ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ ƉĂĚĂ <^ /͕ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ WĞƌũĂŶũŝĂŶ ŐĞŶ
WĞŵďĂLJĂƌĂŶ͕ĚĞŶŐĂŶĚĞŵŝŬŝĂŶWĞƌƐĞƌŽĂŶĚŝďĞďĂƐŬĂŶĚĂƌŝŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞůĂŬƵŬĂŶƉĞŵďĂLJĂƌĂŶƵŶŐĂ
KďůŝŐĂƐŝLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͘
ddZW DzZE WK<K<K>/'^/
ϭͿ KďůŝŐĂƐŝŚĂƌƵƐĚŝůƵŶĂƐŝƉĂĚĂdĂŶŐŐĂů WĞůƵŶĂƐĂŶWŽŬŽŬKďůŝŐĂƐŝ͘
ϮͿ WĞŵďĂLJĂƌĂŶ WŽŬŽŬKďůŝŐĂƐŝ ŬĞƉĂĚĂ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ŵĞůĂůƵŝ WĞŵĞŐĂŶŐZĞŬĞŶŝŶŐĚŝůĂŬƵŬĂŶ ŽůĞŚŐĞŶ
WĞŵďĂLJĂƌĂŶƵŶƚƵŬĚĂŶĂƚĂƐ ŶĂŵĂWĞƌƐĞƌŽĂŶďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶŐĞŶWĞŵďĂLJĂƌĂŶ͘
ϯͿ WĞŵďĂLJĂƌĂŶ WŽŬŽŬ KďůŝŐĂƐŝ LJĂŶŐ ƚĞƌƵƚĂŶŐ͕ LJĂŶŐ ĚŝůĂŬƵŬĂŶ ŽůĞŚ WĞƌƐĞƌŽĂŶ ŬĞƉĂĚĂ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ
ŵĞůĂůƵŝŐĞŶWĞŵďĂLJĂƌĂŶ͕ĚŝĂŶŐŐĂƉƉĞŵďĂLJĂƌĂŶůƵŶĂƐŽůĞŚWĞƌƐĞƌŽĂŶ͕ƐĞƚĞůĂŚĚĂŶĂƚĞƌƐĞďƵƚĚŝƚĞƌŝŵĂŽůĞŚ
WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ŵĞůĂůƵŝ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ ƉĂĚĂ <^ /͕ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ WĞƌũĂŶũŝĂŶ ŐĞŶ
WĞŵďĂLJĂƌĂŶ͕ĚĞŶŐĂŶĚĞŵŝŬŝĂŶWĞƌƐĞƌŽĂŶĚŝďĞďĂƐŬĂŶĚĂƌŝŬĞǁĂũŝďĂŶ ƵŶƚƵŬŵĞůĂŬƵŬĂŶ ƉĞŵďĂLJĂƌĂŶWŽŬŽŬ
KďůŝŐĂƐŝLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͘
^dhEW D/E,h<hEK>/'^/
^ĂƚƵĂŶ ƉĞŵŝŶĚĂŚďƵŬƵĂŶ KďůŝŐĂƐŝ ĂĚĂůĂŚ ƐĞŶŝůĂŝ ZƉϭ͕Ͳ;ƐĂƚƵ ZƵƉŝĂŚͿ ĂƚĂƵ ŬĞůŝƉĂƚĂŶŶLJĂ͘ ĂůĂŵ ZhWK ƚŝĂƉͲƚŝĂƉ
ZƉϭ͕Ͳ;ƐĂƚƵ ZƵƉŝĂŚͿŵĞŵďĞƌŝŬĂŶŚĂŬŬĞƉĂĚĂWĞŵĞŐĂŶŐKďůŝŐĂƐŝƵŶƚƵŬŵĞŶŐĞůƵĂƌŬĂŶϭ;ƐĂƚƵͿƐƵĂƌĂ͘
:hD>,D/E/DhDW D ^EE
WĞƌĚĂŐĂŶŐĂŶKďůŝŐĂƐŝĚŝůĂŬƵŬĂŶĚŝƵƌƐĂ ĨĞŬ͘^ĂƚƵĂŶƉĞƌĚĂŐĂŶŐĂŶKďůŝŐĂƐŝĚŝƵƌƐĂ ĨĞŬĚŝůĂŬƵŬĂŶĚĞŶŐĂŶŶŝůĂŝ
ƐĞďĞƐĂƌZƉϱ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ůŝŵĂũƵƚĂZƵƉŝĂŚͿĚĂŶŬĞůŝƉĂƚĂŶŶLJĂ͘
5
Page 26
PT INDOMOBIL FINANCE INDONESIA
W E&dZE K>/'^//<^ /
Ă͘ KďůŝŐĂƐŝ ƚĞůĂŚ ĚŝĚĂĨƚĂƌŬĂŶ ƉĂĚĂ <^ / ďĞƌĚĂƐĂƌŬĂŶ WĞƌũĂŶũŝĂŶ WĞŶĚĂĨƚĂƌĂŶ KďůŝŐĂƐŝ Ěŝ <^ /͕ ĚĞŶŐĂŶ
ŵĞŵƉĞƌŚĂƚŝŬĂŶ ŬĞƚĞŶƚƵĂŶĚŝďŝĚĂŶŐWĂƐĂƌDŽĚĂůĚĂŶŬĞƚĞŶƚƵĂŶ<^ /LJĂŶŐďĞƌůĂŬƵ͖
ď͘ KďůŝŐĂƐŝLJĂŶŐĚŝƐŝŵƉĂŶĚĂůĂŵ WĞŶŝƚŝƉĂŶ<ŽůĞŬƚŝĨĚŝ<^ /ďĞƌŶŝůĂŝƐĞƉĂĚĂŶƐĂƚƵĚĞŶŐĂŶLJĂŶŐůĂŝŶŶLJĂ͖
ď͘ KďůŝŐĂƐŝ ĚŝƚĞƌďŝƚŬĂŶƚĂŶƉĂ ǁĂƌŬĂƚ ŬĞĐƵĂůŝ^ĞƌƚŝĨŝŬĂƚ:ƵŵďŽ KďůŝŐĂƐŝLJĂŶŐ ĚŝƚĞƌďŝƚŬĂŶƵŶƚƵŬĚŝĚĂĨƚĂƌŬĂŶ ĂƚĂƐ
ŶĂŵĂ <^ / ƐĞďĂŐĂŝďƵŬƚŝ ƵƚĂŶŐ ƵŶƚƵŬŬĞƉĞŶƚŝŶŐĂŶWĞŵĞŐĂŶŐ KďůŝŐĂƐŝŵĞůĂůƵŝ WĞŵĞŐĂŶŐZĞŬĞŶŝŶŐĚĞŶŐĂŶ
ŵĞŵƉĞƌŚĂƚŝŬĂŶ ŬĞƚĞŶƚƵĂŶĚŝďŝĚĂŶŐWĂƐĂƌDŽĚĂů͘
W EZ/<EK>/'^/
WĞŶĂƌŝŬĂŶKďůŝŐĂƐŝĚĂƌŝZĞŬĞŶŝŶŐ ĨĞŬŚĂŶLJĂĚĂƉĂƚĚŝůĂŬƵŬĂŶĚĞŶŐĂŶƉĞŵŝŶĚĂŚďƵŬƵĂŶĚĂƌŝƐĂƚƵZĞŬĞŶŝŶŐ ĨĞŬ
ŬĞZĞŬĞŶŝŶŐ ĨĞŬůĂŝŶŶLJĂ͘ WĞŶĂƌŝŬĂŶKďůŝŐĂƐŝ ŬĞůƵĂƌĚĂƌŝZĞŬĞŶŝŶŐ ĨĞŬƵŶƚƵŬĚŝŬŽŶǀĞƌƐŝŬĂŶŵĞŶũĂĚŝ ^ĞƌƚŝĨŝŬĂƚ
KďůŝŐĂƐŝƚŝĚĂŬĚĂƉĂƚ ĚŝůĂŬƵŬĂŶ͕ŬĞĐƵĂůŝĂƉĂďŝůĂ ƚĞƌũĂĚŝƉĞŵďĂƚĂůĂŶ ƉĞŶĚĂĨƚĂƌĂŶ ŽďůŝŐĂƐŝĚŝ<^ /ĂƚĂƐ ƉĞƌŵŝŶƚĂĂŶ
WĞƌƐĞƌŽĂŶĂƚĂƵ tĂůŝ ŵĂŶĂƚ͕ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ ƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ LJĂŶŐ ďĞƌůĂŬƵĚŝWĂƐĂƌ
DŽĚĂůĚĂŶƉĞƌĂƚƵƌĂŶ<^ /͘
W E'>/,EK>/'^/
,ĂŬ ŬĞƉĞŵŝůŝŬĂŶ KďůŝŐĂƐŝ ďĞƌĂůŝŚĚĞŶŐĂŶ ƉĞŵŝŶĚĂŚďƵŬƵĂŶ KďůŝŐĂƐŝ ĚĂƌŝƐĂƚƵ ZĞŬĞŶŝŶŐ ĨĞŬŬĞZĞŬĞŶŝŶŐ ĨĞŬ
ůĂŝŶŶLJĂ͘ WĞƌƐĞƌŽĂŶ͕ tĂůŝ ŵĂŶĂƚ ĚĂŶ ŐĞŶ WĞŵďĂLJĂƌĂŶ ǁĂũŝď ŵĞŵďĞƌůĂŬƵŬĂŶ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ ƐĞůĂŬƵ
WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ LJĂŶŐ ƐĂŚ ĚĂůĂŵ ŚƵďƵŶŐĂŶŶLJĂ ƵŶƚƵŬ ŵĞŶĞƌŝŵĂ ƉĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝ ĚĂŶͬĂƚĂƵ
ƉĞůƵŶĂƐĂŶWŽŬŽŬKďůŝŐĂƐŝĚĂŶŚĂŬͲŚĂŬůĂŝŶLJĂŶŐďĞƌŚƵďƵŶŐĂŶĚĞŶŐĂŶKďůŝŐĂƐŝ͘
ϯ͘ W Ez/^/,EE;^/E</E'&hEͿ
WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ŵĞŶLJĞůĞŶŐŐĂƌĂŬĂŶ ƉĞŶLJŝƐŝŚĂŶ ĚĂŶĂ ƵŶƚƵŬ KďůŝŐĂƐŝ ĚĞŶŐĂŶ ƉĞƌƚŝŵďĂŶŐĂŶ ƵŶƚƵŬ
ŵĞŶŐŽƉƚŝŵĂůŬĂŶ ƉĞŶŐŐƵŶĂĂŶĚĂŶĂŚĂƐŝů ŵŝƐŝ ƐĞƐƵĂŝĚĞŶŐĂŶƚƵũƵĂŶƌĞŶĐĂŶĂƉĞŶŐŐƵŶĂĂŶĚĂŶĂ ŵŝƐŝ͘
ϰ͘ W Dd^EͲW Dd^E E< t:/EͲ< t:/E W Z^ ZKE
ϰ͘ϭ^ĞůĂŵĂ ďĞƌůĂŬƵŶLJĂũĂŶŐŬĂ ǁĂŬƚƵ KďůŝŐĂƐŝĚĂŶƐĞďĞůƵŵĚŝůƵŶĂƐŝŶLJĂ ƐĞŵƵĂWŽŬŽŬKďůŝŐĂƐŝ͕ƵŶŐĂ KďůŝŐĂƐŝ͕
ƐĞƌƚĂ ĞŶĚĂ ;ũŝŬĂ ĂĚĂͿ ĚĂŶ ŽŶŐŬŽƐͲŽŶŐŬŽƐ ůĂŝŶ LJĂŶŐ ŚĂƌƵƐ ĚŝƚĂŶŐŐƵŶŐ ŽůĞŚ ŵŝƚĞŶ ďĞƌŬĞŶĂĂŶ ĚĞŶŐĂŶ
KďůŝŐĂƐŝ͕ ŵŝƚĞŶ ďĞƌũĂŶũŝ ĚĂŶ ŵĞŶŐŝŬĂƚ ĚŝƌŝďĂŚǁĂ ƚĂŶƉĂ ƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐ ĚĂƌŝ tĂůŝ ŵĂŶĂƚ͕ ŵŝƚĞ Ŷ
ƚŝĚĂŬĂŬĂŶŵĞůĂŬƵŬĂŶŚĂůͲŚĂůĂƚĂƵƚŝŶĚĂŬĂŶͲƚŝŶĚĂŬĂŶ ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Ă͘ ŵĞůĂŬƵŬĂŶ ƉĞŶũƵĂůĂŶ͕ ƉĞŶŐĂůŝŚĂŶ ĂƚĂƵ ĚĞŶŐĂŶ ĐĂƌĂ ĂƉĂƉƵŶ ŵĞůĞƉĂƐŬĂŶ ĚĂůĂŵ ƐĂƚƵ ĂƚĂƵ ďĞďĞƌĂƉĂ
ƚƌĂŶƐĂŬƐŝLJĂŶŐďĞƌŚƵďƵŶŐĂŶ͕ƐĞůƵƌƵŚĂƚĂƵƐĞďĂŐŝĂŶŬƚŝǀĂdĞƚĂƉ͕ ŬĞĐƵĂůŝ͗
;ŝͿ ĚĂůĂŵ ƌĂŶŐŬĂŬĞŐŝĂƚĂŶ ƵƐĂŚĂƐĞŚĂƌŝͲŚĂƌŝ ŵŝƚĞŶ͖
;ŝŝͿ ƉĞŶũƵĂůĂŶ͕ ƉĞŶŐĂůŝŚĂŶĂƚĂƵ ƉĞůĞƉĂƐĂŶĂƚĂƐ ŬƚŝǀĂ dĞƚĂƉ LJĂŶŐƐƵĚĂŚƚƵĂ ĂƚĂƵ ƚŝĚĂŬƉƌŽĚ ƵŬƚŝĨ ďĂŝŬ
ƐĞĐĂƌĂ ƐĞŶĚŝƌŝͲƐĞŶĚŝƌŝ ŵĂƵƉƵŶ ďĞƌƐĂŵĂ ĚĞŶŐĂŶ ƐĂƚƵ ĂƚĂƵ ůĞďŝŚ ƉĞŶũƵĂůĂŶ͕ ƉĞŶŐĂůŝŚĂŶ ĂƚĂƵ
ƉĞůĞƉĂƐĂŶ͖ĚĂŶ
;ŝŝŝͿ ĚĂůĂŵ ƌĂŶŐŬĂ ƉĞůĂŬƐĂŶĂĂŶ ŚĂŬ ĚĂŶ ŬĞǁĂũŝďĂŶ LJĂŶŐ ƚĞƌƚƵĂŶŐ ĚĂůĂŵ ƐƵĂƚƵ ƉĞƌũĂŶũŝĂŶ ĚĂŶͬĂƚĂƵ
ƉĞƌŝŬĂƚĂŶLJĂŶŐƚĞůĂŚĂĚĂĂƚĂƵĚŝďƵĂƚƐĞďĞůƵŵƚĂŶŐŐĂů WĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ ŝŶŝ͘
ĚĂƉƵŶLJĂŶŐĚŝŵĂŬƐƵĚ ĚĞŶŐĂŶƐĞďĂŐŝĂŶ ďĞƐĂƌŬƚŝǀĂdĞƚĂƉ ĂĚĂůĂŚ ůĞďŝŚĚĂƌŝϱϬй;ůŝŵĂ ƉƵůƵŚƉĞƌƐĞŶͿ
ĚĂƌŝƚŽƚĂů ŬƚŝǀĂdĞƚĂƉƉĞƌůĂƉŽƌĂŶŬĞƵĂŶŐĂŶ ŵŝƚĞŶLJĂŶŐƚĞƌĂŬŚŝƌ͖
ď͘ŵĞŶŐĂĚĂŬĂŶ ƐĞŐĂůĂďĞŶƚƵŬŵĞƌŐĞƌĂƚĂƵĂŬƵŝƐŝƐŝĂƚĂƵ ƉĞůĞďƵƌĂŶ͕ŬĞĐƵĂůŝ͗
;ŝͿ ŵĞƌŐĞƌĂƚĂƵĂŬƵŝƐŝƐŝLJĂŶŐĚŝůĂŬƵŬĂŶĚĂůĂŵŬĂŝƚĂŶŶLJĂ ĚĞŶŐĂŶŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ŵŝƚĞŶ͕ĂƚĂƵ
;ŝŝͿ ŵĞƌŐĞƌĂƚĂƵĂŬƵŝƐŝƐŝƚĞƌƐĞďƵƚĚŝĚĂŶĂŝŽůĞŚƚĂŵďĂŚĂŶ ƐĞƚŽƌĂŶŵŽĚĂůLJĂŶŐĚŝůĂŬƵŬĂŶŽůĞŚƉĞŵĞŐĂŶŐ
ƐĂŚĂŵ ŵŝƚĞŶ͕ĚĂŶ ƚŝĚĂŬ ŵĞŶŝŵďƵůŬĂŶ ĂŬŝďĂƚ ŶĞŐĂƚŝĨ ƚĞƌŚĂĚĂƉ ŬĞŵĂŵƉƵĂŶ ŵŝƚĞŶ ĚĂůĂŵ
ŵĞŵďĂLJĂƌƐĞŵƵĂŬĞǁĂũŝďĂŶŶLJĂ ŬĞƉĂĚĂWĞŵĞŐĂŶŐKďůŝŐĂƐŝ͕
Đ͘ ŵĞŶŐƵďĂŚ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ƵƚĂŵĂ ŵŝƚĞŶ͕ ŬĞĐƵĂůŝ ĚĂůĂŵ ƌĂŶŐŬĂ ƉĞŶLJĞƐƵĂŝĂŶ ĚĞŶŐĂŶ ƉĞƌĂƚƵƌĂŶ
ƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͖
Ě͘ŵĞŶŐƵƌĂŶŐŝŵŽĚĂů ĚĂƐĂƌĚĂŶŵŽĚĂůĚŝƐĞƚŽƌ ŵŝƚĞŶ͖
Ğ͘ ŵĞŵďĞƌŝŬĂŶ ƉŝŶũĂŵĂŶ ĂƚĂƵ ŬƌĞĚŝƚŬĞƉĂĚĂ ƉŝŚĂŬ ŬĞƚŝŐĂ ƐĞůĂŝŶĚŝ ůƵĂƌŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ŵŝƚĞŶ ƚĞƌƐĞďƵƚ͕
ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ ŬĞƚĞŶƚƵĂŶ WĂƐĂů ϳ͘ϯ ŚƵƌƵĨ ď͕ ŬĞĐƵĂůŝ ƉŝŶũĂŵĂŶ ŬĞƉĂĚĂ ŬĂƌLJĂǁĂŶ ŵŝƚĞŶ͕
ŬŽƉĞƌĂƐŝ ĚĂŶ LJĂLJĂƐĂŶ ŬĂƌLJĂǁĂŶ ŵŝƚĞŶ͕ ĚĂŶͬĂƚĂƵ ĨŝůŝĂƐŝ ƐĞƌƚĂ Wh<< ;WĞŵďŝŶĂĂŶ hƐĂŚĂ <ĞĐŝů ĚĂŶ
<ŽƉĞƌĂƐŝͿƐĞƐƵĂŝŬĞƚĞŶƚƵĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ LJĂŶŐďĞƌůĂŬƵ͘
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PT INDOMOBIL FINANCE INDONESIA
ϰ͘Ϯ^ĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚĚĂůĂŵWĂƐĂůϳ͘ϭ͕ƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐĚĂƌŝtĂůŝŵĂŶĂƚĚŝďĞƌŝŬĂŶĚĞŶŐĂŶŬĞ ƚĞŶƚƵĂŶ͗
Ă͘ ƉĞƌŵŽŚŽŶĂŶƉĞƌƐĞƚƵũƵĂŶƚŝĚĂŬĂŬĂŶĚŝƚŽůĂŬƚĂŶƉĂĂůĂƐĂŶLJĂŶŐũĞůĂƐĚĂŶǁĂũĂƌ͖
ď͘ tĂůŝ ŵĂŶĂƚ ǁĂũŝď ŵĞŵďĞƌŝŬĂŶ ƉĞƌƐĞƚƵũƵĂŶ͕ ƉĞŶŽůĂŬĂŶ ĂƚĂƵ ŵĞŵŝŶƚĂ ƚĂŵďĂŚĂŶ ĚĂƚĂͬĚŽŬƵŵĞ Ŷ
ƉĞŶĚƵŬƵŶŐ ĚĂůĂŵ ǁĂŬƚƵ ϭϰ;ĞŵƉĂƚ ďĞůĂƐͿ ,Ăƌŝ <ĞƌũĂƐĞƚĞůĂŚ ƉĞƌŵŽŚŽŶĂŶ ƉĞƌƐĞƚƵũƵĂŶ ƚĞƌƐĞďƵƚ ĚĂŶ
ĚŽŬƵŵĞŶ ƉĞŶĚƵŬƵŶŐŶLJĂĚŝƚĞƌŝŵĂ ƐĞĐĂƌĂůĞŶŐŬĂƉ ŽůĞŚtĂůŝŵĂŶĂƚ͕ ĚĂŶ ũŝŬĂ ƉĞƌƐĞƚƵũƵĂŶ͕ ƉĞŶŽůĂŬĂŶ
ĂƚĂƵ ƉĞƌŵŝŶƚĂĂŶ ƚĂŵďĂŚĂŶ ĚĂƚĂͬĚŽŬƵŵĞŶ ƉĞŶĚƵŬƵŶŐ ƚĞƌƐĞďƵƚ ƚŝĚĂŬ ĚŝďĞƌŝŬĂŶ ŽůĞŚ tĂůŝ ŵĂŶĂƚ
ƐĞůĂŵďĂƚͲůĂŵďĂƚŶLJĂ ϭϰ ;ĞŵƉĂƚ ďĞůĂƐͿ ,Ăƌŝ <ĞƌũĂ ƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ ƉĞƌŵŽŚŽŶĂŶ ƉĞƌƐĞƚƵũƵĂŶ ĚŝƚĞƌŝŵĂ
ƐĞĐĂƌĂůĞŶŐŬĂƉŽůĞŚtĂůŝŵĂŶĂƚ͕ ŵĂŬĂ ĚĞŶŐĂŶůĞǁĂƚŶLJĂ ǁĂŬƚƵ ƉĞƌŵŽŚŽŶĂŶƚĞƌƐĞďƵƚĚŝĂŶŐŐĂƉ ƚĞůĂŚ
ĚŝƐĞƚƵũƵŝŽůĞŚtĂůŝŵĂŶĂƚ͖ĚĂŶ
Đ͘ ũŝŬĂ tĂůŝ ŵĂŶĂƚ ŵĞŵŝŶƚĂ ƚĂŵďĂŚĂŶ ĚĂƚĂͬĚŽŬƵŵĞŶ ƉĞŶĚƵŬƵŶŐ͕ ŵĂŬĂ ƉĞ ƌƐĞƚƵũƵĂŶ ĂƚĂƵ ƉĞŶŽůĂŬĂŶ
ǁĂũŝď ĚŝďĞƌŝŬĂŶ ŽůĞŚ tĂůŝ ŵĂŶĂƚ ĚĂůĂŵ ǁĂŬƚƵ ϭϬ ;ƐĞƉƵůƵŚͿ ,Ăƌŝ <ĞƌũĂ ƐĞƚĞůĂŚ ĚĂƚĂͬĚŽŬƵŵĞŶ
ƉĞŶĚƵŬƵŶŐƚĞƌƐĞďƵƚ ĚŝƚĞƌŝŵĂ ƐĞĐĂƌĂ ůĞŶŐŬĂƉŽůĞŚtĂůŝ ŵĂŶĂƚ͕ ĚĂŶũŝŬĂ ƉĞƌƐĞƚƵũƵĂŶ ĂƚĂƵ ƉĞŶŽůĂŬĂŶ
ƚĞƌƐĞďƵƚƚŝĚĂŬ ĚŝďĞƌŝŬĂŶƐĞůĂŵďĂƚͲůĂŵďĂƚŶLJĂ ϭϬ;ƐĞƉƵůƵŚͿ,Ăƌŝ<ĞƌũĂƚĞƌŚŝƚƵŶŐƐĞũĂŬƐĞůƵƌƵŚĚŽŬƵŵĞŶ
ĚŝƚĞƌŝŵĂ ƐĞĐĂƌĂ ůĞŶŐŬĂƉ ŽůĞŚ tĂůŝ ŵĂŶĂƚ͕ ŵĂŬĂ ĚĞŶŐĂŶ ůĞǁĂƚŶLJĂ ǁĂŬƚƵ ƉĞƌŵŽŚŽŶĂŶ ƚĞƌƐĞďƵƚ
ĚŝĂŶŐŐĂƉƚĞůĂŚĚŝƐĞƚƵũƵŝŽůĞŚtĂůŝŵĂŶĂƚ͘
ϰ͘ϯ ŵŝƚĞŶďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬ͗
Ă͘ ŵĞŵĞŶƵŚŝ ƐĞŵƵĂ ŬĞƚĞŶƚƵĂŶ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶ ƉĞƌũĂŶũŝĂŶ ƚĞƌŬĂŝƚ ůĂŝŶŶLJĂ
ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚŝŵĂŶĂ ŵŝƚĞŶ ŵĞƌƵƉĂŬĂŶ ƉŝŚĂŬ ĚĂůĂŵ ƉĞƌũĂŶũŝĂŶ
ƚĞƌƐĞďƵƚ͖
ď͘ ŵĞŵĞůŝŚĂƌĂƌĂƐŝŽŬĞƵĂŶŐĂŶĚĂŶŵĞŵĞůŝŚĂƌĂŬĞĂĚĂĂŶŬĞƵĂŶŐĂŶ ŵŝƚĞŶ ďĞƌĚĂƐĂƌŬĂŶůĂƉŽƌĂŶŬĞƵĂŶŐĂŶ
ƚĂŚƵŶĂŶLJĂŶŐƚĞůĂŚĚŝĂƵĚŝƚŽůĞŚŬĂŶƚŽƌĂŬƵŶƚĂŶƉƵďůŝŬLJĂŶŐƚĞƌĚĂĨƚĂƌĚŝK:<ĚĂŶĚŝƐĞƌĂŚŬĂŶŬĞƉĂĚĂtĂůŝ
ŵĂŶĂƚ͕ ĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶŬŽŶĚŝƐŝŬĞƵĂŶŐĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Ͳ ĞďƚƚŽ ƋƵŝƚLJZĂƚŝŽƐĞďĞƐĂƌŵĂŬƐŝŵƵŵ ϭϬ͗ϭ;ƐĞƉƵůƵŚďĞƌďĂŶĚŝŶŐƐĂƚƵͿ͖
Đ͘ ŵĞŶLJĞƚŽƌŬĂŶũƵŵůĂŚƵĂŶŐƵŶƚƵŬƉĞůƵŶĂƐĂŶWŽŬŽŬKďůŝŐĂƐŝĚĂŶͬĂƚĂƵ ƉĞŵďĂLJĂƌĂŶƵŶŐĂKďůŝŐĂƐŝ
LJĂŶŐ ĂŬĂŶ ũĂƚƵŚ ƚĞŵƉŽ LJĂŶŐ ŚĂƌƵƐ ƐƵĚĂŚ ƚĞƌƐĞĚŝĂͬĞĨĞŬƚŝĨ ;ŝŶ ŐŽŽĚ ĨƵŶĚƐͿ ĚĂůĂŵ ũĂŶŐŬĂ ǁĂŬƚƵ
ƐĞůĂŵďĂƚͲůĂŵďĂƚŶLJĂ ϭ ;ƐĂƚƵͿ ,Ăƌŝ <ĞƌũĂ ƐĞďĞůƵŵ dĂŶŐŐĂů WĞůƵŶĂƐĂŶ WŽŬŽŬ KďůŝŐĂƐŝ ĚĂŶͬĂƚĂƵ
dĂŶŐŐĂů WĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝĚŝƌĞŬĞŶŝŶŐ<^ /LJĂŶŐĚŝƚƵŶũƵŬ ďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶŐĞŶ
WĞŵďĂLJĂƌĂŶ͘ ^ĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ ƉĞŵďĂLJĂƌĂŶ ĚĂŶĂ ƚĞƌƐĞďƵƚ ĚŝĂƚĂƐ͕ ŵŝƚĞŶ ǁĂũŝď ƵŶƚƵŬ
ŵĞŶLJĞƌĂŚŬĂŶŬĞƉĂĚĂtĂůŝŵĂŶĂƚ ĨŽƚŽŬŽƉŝďƵŬƚŝƉĞŶŐŝƌŝŵĂŶƵĂŶŐƚĞƌƐĞďƵƚƉĂĚĂŚĂƌŝLJĂŶŐƐĂŵĂ͖
Ě͘ ďŝůĂ ŵŝƚĞŶůĂůĂŝŵĞŶLJĞƚŽƌŬĂŶũƵŵůĂŚ ĚĂŶĂƚĞƌƐĞďƵƚƉĂĚĂǁĂŬƚƵƐĞďĂŐĂŝŵĂŶĂ ĚŝĂƚƵƌĚĂůĂŵ ŚƵƌƵĨ
ĐĚŝĂƚĂƐ͕ ŵĂŬĂĂƚĂƐ ŬĞůĂůĂŝĂŶƚĞƌƐĞďƵƚ ŵŝƚĞŶĚŝŬĞŶĂŬĂŶĞŶĚĂ͘
ĞŶĚĂ LJĂŶŐ ĚŝďĂLJĂƌ ŽůĞŚ ŵŝƚĞŶ LJĂŶŐ ŵĞƌƵƉĂŬĂŶ ŚĂŬ WĞŵĞŐĂŶŐ K ďůŝŐĂƐŝ ĂŬĂŶ ĚŝďĂLJĂƌŬĂŶ
ŬĞƉĂĚĂ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ƐĞĐĂƌĂƉƌŽƉŽƐŝŽŶĂů ďĞƌĚĂƐĂƌŬĂŶ ďĞƐĂƌŶLJĂ KďůŝŐĂƐŝ LJĂŶŐ ĚŝŵŝůŝŬŝŶLJĂ͕
ƐĂƚƵĚĂŶůĂŝŶĚĞŶŐĂŶŵĞŵƉĞƌŚĂƚŝŬĂŶ ŬĞƚĞŶƚƵĂŶWĞƌũĂŶũŝĂŶŐĞŶWĞŵďĂLJĂƌĂŶ͖
Ğ͘ ŵĞŶũĂůĂŶŬĂŶ ƵƐĂŚĂ ĚĞŶŐĂŶ ƐĞďĂŝŬͲďĂŝŬŶLJĂ ĚĂŶ ƐĞĐĂƌĂ ĞĨŝƐŝĞŶ ƐĞƌƚĂ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ƉƌĂŬƚĞŬ
ŬĞƵĂŶŐĂŶĚĂŶƉĞƌĚĂŐĂŶŐĂŶƐĞďĂŐĂŝͲŵĂŶĂ ŵĞƐƚŝŶLJĂĚĂŶƉĞƌĂƚƵƌĂŶLJĂŶŐďĞƌůĂŬƵ͖
Ĩ͘ ŵĞŵĞůŝŚĂƌĂ ƐŝƐƚĞŵ ĂŬƵŶƚĂŶƐŝ ĚĂŶ ƉĞŶŐĂǁĂƐĂŶ ďŝĂLJĂ ƐĞƐƵĂŝ ĚĞŶŐĂŶ WƌŝŶƐŝƉ^ƚĂŶĚĂƌ ŬƵŶƚĂŶƐŝ
LJĂŶŐďĞƌůĂŬƵĚŝ/ŶĚŽŶĞƐŝĂĚĂŶŵĞŵĞůŝŚĂƌĂ ďƵŬƵͲďƵŬƵĚĂŶĐĂƚĂƚĂŶͲĐĂƚĂƚĂŶ ůĂŝŶLJĂŶŐĐƵŬƵƉƵŶƚƵŬ
ŵĞŶŐŐĂŵďĂƌŬĂŶ ĚĞŶŐĂŶƚĞƉĂƚŬĞĂĚĂĂŶŬĞƵĂŶŐĂŶ ŵŝƚĞŶĚĂŶŚĂƐŝůŽƉĞƌĂƐŝŽŶĂůŶLJĂƐĞƐƵĂŝĚĞŶŐĂŶ
ƉƌŝŶƐŝƉͲƉƌŝŶƐŝƉ ĂŬƵŶƚĂŶƐŝ LJĂŶŐ ďĞƌůĂŬƵ ƵŵƵŵ ĚĂŶ ĚŝƚĞƌĂƉŬĂŶ ƐĞĐĂƌĂ ŬŽŶƐŝƐƚĞŶ ĚĞŶŐĂŶ
ŵĞŵƉĞƌŚĂƚŝŬĂŶ ŬĞƚĞŶƚƵĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ LJĂŶŐďĞƌůĂŬƵ͖
Ő͘ ƐĞŐĞƌĂ ŵĞŵďĞƌŝŬĂŶ ŬĞƉĂĚĂ tĂůŝ ŵĂŶĂƚ ŬĞƚĞƌĂŶŐĂŶ LJĂŶŐ ƐĞǁĂŬƚƵͲǁĂŬƚƵ ĚŝŵŝŶƚĂ ŽůĞŚ tĂůŝ
ŵĂŶĂƚ ĚĞŶŐĂŶǁĂũĂƌŵĞŶŐĞŶĂŝŽƉĞƌĂƐŝ͕ŬĞĂĚĂĂŶŬĞƵĂŶŐĂŶ͕ĂŬƚŝǀĂ ŵŝƚĞŶĚĂŶŚĂůůĂŝŶ ͲůĂŝŶ͖
Ś͘ ƐĞŐĞƌĂŵĞŵďĞƌŝƚĂŚƵŬĂŶŬĞƉĂĚĂtĂůŝŵĂŶĂƚƐĞĐĂƌĂƚĞƌƚƵůŝƐĚĂůĂŵ ǁĂŬƚƵϮ;ĚƵĂͿ,Ăƌŝ<ĞƌũĂƐĞũĂŬ
ƚĞƌũĂĚŝŶLJĂŚĂůͲŚĂůƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
;ŝͿ ŵĞŵďƵĂƚ ƉŝŶũĂŵĂŶ ďĂƌƵ;ĚĞŶŐĂŶďƵŶŐĂͿ ďĂŝŬ LJĂŶŐ ĚŝůĂŬƵŬĂŶ ŽůĞŚ ŵŝƚĞŶ ŵĂƵƉƵŶ ŶĂŬ
WĞƌƵƐĂŚĂĂŶ ;ũŝŬĂ ĂĚĂͿ ŬĞĐƵĂůŝ ƵŶƚƵŬ ŬĞŐŝĂƚĂŶ ŽƉĞƌĂƐŝŽŶĂů ƉĞƌƵƐĂŚĂĂŶ ĚĞŶŐĂŶ
ŵĞŵƉĞƌŚĂƚŝŬĂŶ ŬĞƚĞŶƚƵĂŶŵĞŶŐĞŶĂŝ ƌĂƐŝŽŬĞƵĂŶŐĂŶ ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵ WĂƐĂů
ϳ͘ϯŚƵƌƵĨďWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ ŝŶŝ͖
;ŝŝͿ ƐĞƚŝĂƉ ŬĞũĂĚŝĂŶ ĂƚĂƵ ŬĞĂĚĂĂŶ LJĂŶŐ ĚĂƉĂƚ ŵĞŵƉƵŶLJĂŝ ƉĞŶŐĂƌƵŚƉĞŶƚŝŶŐ ĚĂŶͬĂƚĂƵ ďƵƌƵŬ
ĂƚĂƐũĂůĂŶŶLJĂƵƐĂŚĂĂƚĂƵŽƉĞƌĂƐŝĂƚĂƵŬĞĂĚĂĂŶŬĞƵĂŶŐĂŶ ŵŝƚĞŶĚĂŶŶĂŬWĞƌƵƐĂŚĂĂŶ;ũŝŬĂ
ĂĚĂͿƐĞƌƚĂƉĞŵĞŶƵŚĂŶŬĞǁĂũŝďĂŶ ŵŝƚĞŶĚĂůĂŵ WĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ ŝŶŝ͖
;ŝŝŝͿ ƐĞƚŝĂƉƉĞƌƵďĂŚĂŶĂŶŐŐĂƌĂŶ ĚĂƐĂƌLJĂŶŐŵĞŵĞƌůƵŬĂŶƉĞƌƐĞƚƵũƵĂŶĚĂƌŝDĞŶƚĞƌŝ,ƵŬƵŵĚĂŶ
,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ͕ ĚĂŶ ƉĞƌƵďĂŚĂŶ ƉĞŵĞŐĂŶŐ ƐĂŚĂŵ ƵƚĂŵĂ ŵŝƚĞŶ ĚĂŶͬĂƚĂƵ ŶĂŬ
WĞƌƵƐĂŚĂĂŶ;ũŝŬĂĂĚĂͿ͕ĚŝŝŬƵƚŝĚĞŶŐĂŶƉĞŶLJĞƌĂŚĂŶĂŬƚĂͲĂŬƚĂͬĚŽŬƵŵĞŶͲĚŽŬƵŵĞŶ ŬĞƉƵƚƵƐĂŶ
ƌĂƉĂƚ ƵŵƵŵ ƉĞŵĞŐĂŶŐ ƐĂŚĂŵ ŵŝƚĞŶ ĚĂŶͬĂƚĂƵ ŶĂŬ WĞƌƵƐĂŚĂĂŶ ;ũŝŬĂ ĂĚĂͿ ĂƚĂƐ
7
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PT INDOMOBIL FINANCE INDONESIA
ƉĞƌƵďĂŚĂŶƚĞƌƐĞďƵƚ͕ƐĞƚĞůĂŚĂŬƚĂͲĂŬƚĂͬĚŽŬƵŵĞŶͲĚŽŬƵŵĞŶ ƚĞƌƐĞďƵƚĚŝƚĞƌŝŵĂŽůĞŚ ŵŝƚĞŶ͖
ĚĂŶ
;ŝǀͿ WĞƌŬĂƌĂ ƉŝĚĂŶĂ͕ ƉĞƌĚĂƚĂ͕ ĂĚŵŝŶŝƐƚƌĂƐŝ ĚĂŶ ƉĞƌďƵƌƵŚĂŶLJĂŶŐ ĚŝŚĂĚĂƉŝ ŵŝƚĞŶ ĚĂŶͬĂƚĂƵ
ŶĂŬ WĞƌƵƐĂŚĂĂŶ ;ũŝŬĂ ĂĚĂͿ LJĂŶŐ ƐĞĐĂƌĂ ŵĂƚĞƌŝĂů ŵĞŵƉĞŶŐĂƌƵŚŝ ŬĞůĂŶŐƐƵŶŐĂŶ ƵƐĂŚĂ
ŵŝƚĞŶĚĂŶͬĂƚĂƵ ŶĂŬWĞƌƵƐĂŚĂĂŶ;ũŝŬĂĂĚĂͿ͘
ŝ͘ ŵĞŵďĂLJĂƌ ŬĞǁĂũŝďĂŶ ƉĂũĂŬ ŵŝƚĞŶ ĂƚĂƵ ďĞĂ ůĂŝŶŶLJĂ LJĂŶŐ ŵĞŶũĂĚŝ ďĞďĂŶ ŵŝƚĞŶ ĚĂůĂŵ
ŵĞŶũĂůĂŶŬĂŶ ƵƐĂŚĂŶLJĂƐĞďĂŐĂŝŵĂŶĂ ŵĞƐƚŝŶLJĂ͖
ũ͘ ŵĞŶLJĞƌĂŚŬĂŶŬĞƉĂĚĂtĂůŝŵĂŶĂƚ͗
;ŝͿ ůĂƉŽƌĂŶŬĞƵĂŶŐĂŶƚĂŚƵŶĂŶ ŵŝƚĞŶLJĂŶŐ
ƚĞůĂŚ ĚŝĂƵĚŝƚ ŽůĞŚ ŬƵŶƚĂŶ WƵďůŝŬ ŵŝƚĞŶ LJĂŶŐ ƚĞƌĚĂĨƚĂƌ Ěŝ K:< ƐĞůĂŵďĂƚͲůĂŵďĂƚŶLJĂ ϵϬ
;ƐĞŵďŝůĂŶ ƉƵůƵŚͿ ,Ăƌŝ<ĂůĞŶĚĞƌƐĞƚĞůĂŚ ƚĂŶŐŐĂů ƚŝĂƉ ƚĂŚƵŶ ďƵŬƵ ďĞƌĂŬŚŝƌĂƚĂƵ ƉĂĚĂ ƐĂĂƚ
ƉĞŶLJĞƌĂŚĂŶ ůĂƉŽƌĂŶ ŬĞƵĂŶŐĂŶ ƚĂŚƵŶĂŶ ŵŝƚĞŶ ŬĞƉĂĚĂ K:<͕ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ
ŬĞƚĞŶƚƵĂŶWĂƐĂƌDŽĚĂůLJĂŶŐďĞƌůĂŬƵ͖
;ŝŝͿ ůĂƉŽƌĂŶŬĞƵĂŶŐĂŶƚĞŶŐĂŚƚĂŚƵŶĂŶ ŵŝƚĞŶ ƐĞůĂŵďĂƚͲůĂŵďĂƚŶLJĂ͗
Ͳ ϲϬ;ĞŶĂŵƉƵůƵŚͿ,Ăƌŝ<ĂůĞŶĚĞƌƐĞƚĞůĂŚƚĂŶŐŐĂů ƚĞŶŐĂŚƚĂŚƵŶďƵŬƵ͕ũŝŬĂƚŝĚĂŬĚŝƐĞƌƚĂŝ
ůĂƉŽƌĂŶŬƵŶƚĂŶWƵďůŝŬ͖ĂƚĂƵ
Ͳ ϲϬ ;ĞŶĂŵ ƉƵůƵŚͿ ,Ăƌŝ <ĂůĞŶĚĞƌ ƐĞƚĞůĂŚ ƚĂŶŐŐĂů ƚĞŶŐĂŚ ƚĂŚƵŶ ďƵŬƵ ũŝŬĂ ĚŝƐĞƌƚĂŝ
ůĂƉŽƌĂŶŬƵŶƚĂŶWƵďůŝŬ ŵŝƚĞŶLJĂŶŐƚĞůĂŚƚĞƌĚĂĨƚĂƌĚŝK:<ĚĂůĂŵƌĂŶŐŬĂƉĞŶĞůĂĂŚĂŶ
ƚĞƌďĂƚĂƐ͖ĂƚĂƵ
Ͳ ϵϬ;ƐĞŵďŝůĂŶƉƵůƵŚͿ,Ăƌŝ<ĂůĞŶĚĞƌƐĞƚĞůĂŚƚĂŶŐŐĂů ƚĞŶŐĂŚ ƚĂŚƵŶďƵŬƵ͕ ũŝŬĂĚŝƐĞƌƚĂŝ
ůĂƉŽƌĂŶ ŬƵŶƚĂŶWƵďůŝŬ ŵŝƚĞŶ LJĂŶŐ ƚĞůĂŚ ƚĞƌĚĂĨƚĂƌĚŝ K:<ĚĂŶLJĂŶŐ ŵĞŵďĞƌŝŬĂŶ
ƉĞŶĚĂƉĂƚƚĞŶƚĂŶŐ ŬĞǁĂũĂƌĂŶůĂƉŽƌĂŶŬĞƵĂŶŐĂŶƐĞĐĂƌĂŬĞƐĞůƵƌƵŚĂŶ͖ĂƚĂƵ
Ͳ ƉĂĚĂ ƐĂĂƚ ƉĞŶLJĞƌĂŚĂŶůĂƉŽƌĂŶŬĞƵĂŶŐĂŶ ŵŝƚĞŶ ƚĞƌƐĞďƵƚŬĞƉĂĚĂK:<͕ ŵĂŶĂ LJĂŶŐ
ůĞďŝŚĚĂŚƵůƵ͖
;ŝŝŝͿ ůĂƉŽƌĂŶͲůĂƉŽƌĂŶůĂŝŶLJĂŶŐŚĂƌƵƐĚŝƐĂŵƉĂŝŬĂŶŬĞƉĂĚĂK:<ĚĂŶͬĂƚĂƵƵƌƐĂ ĨĞŬĚĂůĂŵǁĂŬƚƵ
LJĂŶŐ ďĞƌƐĂŵĂĂŶ ĚĞŶŐĂŶ ĚŝƐĂŵƉĂŝŬĂŶŶLJĂ ůĂƉŽƌĂŶͲůĂƉŽƌĂŶ ƚĞƌƐĞďƵƚ ŽůĞŚ ŵŝƚĞŶ ŬĞƉĂĚĂ
K:<ĚĂŶͬĂƚĂƵ ƵƌƐĂ ĨĞŬ͖
;ŝǀͿ ƐĂůŝŶĂŶ ƌĞƐŵŝ ĂŬƚĂ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶ ĂŬƚĂͲĂŬƚĂ ůĂŝŶŶLJĂ LJĂŶŐ ĚŝďƵĂƚ
ƐĞŚƵďƵŶŐĂŶĚĞŶŐĂŶ ŵŝƐŝKďůŝŐĂƐŝŝŶŝ͖
;ǀͿ ĚĂƚĂͲĚĂƚĂ ĚĂŶŬĞƚĞƌĂŶŐĂŶͲŬĞƚĞƌĂŶŐĂŶůĂŝŶLJĂŶŐƐĞǁĂŬƚƵͲǁĂŬƚƵ ĚŝŵŝŶƚĂƐĞĐĂƌĂƚĞƌƚƵůŝƐŽůĞŚ
tĂůŝ ŵĂŶĂƚ ŵĞŶŐĞŶĂŝ ũĂůĂŶŶLJĂ ƵƐĂŚĂ͕ ŬĞĂĚĂĂŶ ŬĞƵĂŶŐĂŶ͕ ĂŬƚŝǀĂ ŵŝƚĞŶ ĚĂŶ ĚĂƚĂͲĚĂƚĂ
ůĂŝŶƐĞƉĂŶũĂŶŐ ŚĂů ƚĞƌƐĞďƵƚďĞƌŬĂŝƚĂŶĚĞŶŐĂŶƉĞůĂŬƐĂŶĂĂŶ ƚƵŐĂƐ tĂůŝŵĂŶĂƚ LJĂŶŐ ƚĞůĂŚ
ĚŝƚĞŶƚƵŬĂŶĚĂůĂŵWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶďĞƌĚĂƐĂƌŬĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐ
ďĞƌůĂŬƵ͖ĚĂŶ
;ǀŝͿ ƐĞƚŝĂƉ ƉĞůĂŶŐŐĂƌĂŶ ƚĞƌŚĂĚĂƉ ƉĞŵďĂƚĂƐĂŶͲƉĞŵďĂƚĂƐĂŶ ĚĂŶ ŬĞǁĂũŝďĂŶͲŬĞǁĂũŝďĂŶ
ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌĐĂŶƚƵŵ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ŝŶŝ͕ ƐĞůĂŵďĂƚͲůĂŵďĂƚŶLJĂ Ϯ
;ĚƵĂͿ,Ăƌŝ<ĞƌũĂƐĞƚĞůĂŚĚŝŬĞƚĂŚƵŝŶLJĂƉĞůĂŶŐŐĂƌĂŶƚĞƌƐĞďƵƚ͖
Ŭ͘ ŵĞŵĞůŝŚĂƌĂ ŚĂƌƚĂ ŬĞŬĂLJĂĂŶŶLJĂ ĂŐĂƌ ƚĞƚĂƉ ĚĂůĂŵ ŬĞĂĚĂĂŶ ďĂŝŬ ĚĞŶŐĂŶ ƐLJĂƌĂƚͲƐLJĂƌĂƚ ĚĂŶ
ŬĞƚĞŶƚƵĂŶƐĞďĂŐĂŝŵĂŶĂ ĚŝůĂŬƵŬĂŶƉĂĚĂƵŵƵŵŶLJĂ ŵĞŶŐĞŶĂŝŚĂƌƚĂŵŝůŝŬĚĂŶƵƐĂŚĂLJĂŶŐƐĞƌƵƉĂ͖
ů͘ ŵĞŵĞůŝŚĂƌĂ ĂƐƵƌĂŶƐŝͲĂƐƵƌĂŶƐŝ ĂƚĂƐ ŚĂƌƚĂ ŬĞŬĂLJĂĂŶ ŵŝƚĞŶ ƉĂĚĂ ƉĞƌƵƐĂŚĂĂŶ ĂƐƵƌĂŶƐŝ LJĂŶŐ
ŵĞŵƉƵŶLJĂŝ ƌĞƉƵƚĂƐŝ ďĂŝŬ ƚĞƌŚĂĚĂƉ ƐĞŐĂůĂ ƌĞƐŝŬŽ LJĂŶŐ ƐĞĐĂƌĂ ŵĂƚĞƌŝĂů ůĂnjŝŵ ĚŝŚĂĚĂƉŝ ŽůĞŚ
ƉĞƌƵƐĂŚĂĂŶͲƉĞƌƵƐĂŚĂĂŶ LJĂŶŐ ďĞƌŐĞƌĂŬĚĂůĂŵ ďŝĚĂŶŐƵƐĂŚĂ LJĂŶŐƐĞũĞŶŝƐĚĞŶŐĂŶ ŵŝƚĞŶ ĚĞŶŐĂŶ
ŬĞƚĞŶƚƵĂŶ ĂƐƵƌĂŶƐŝͲĂƐƵƌĂŶƐŝ ƚĞƌƐĞďƵƚ ƚĞƌƐĞĚŝĂ ĚĞŶŐĂŶ ƐLJĂƌĂƚͲƐLJĂƌĂƚ ŬŽŵĞƌƐŝĂů LJĂŶŐ ǁĂũĂƌ ďĂŐŝ
ŵŝƚĞŶ͖
ŵ͘ ƐĞŐĞƌĂŵĞŵďĞƌŝŬĂŶ ƉĞŵďĞƌŝƚĂŚƵĂŶ ƚĞƌƚƵůŝƐ ŬĞƉĂĚĂ tĂůŝ ŵĂŶĂƚ ƐĞƚĞůĂŚ ŵĞŶLJĂĚĂƌŝ ƚĞƌũĂĚŝŶLJĂ
ŬĞĂĚĂĂŶ ĂƚĂƵ ŬĞũĂĚŝĂŶ ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌƐĞďƵƚ ĚĂůĂŵ WĂƐĂů ϭϬWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ LJĂŶŐ
ĚĂƉĂƚŵĞŶŝŵďƵůŬĂŶŬĞůĂůĂŝĂŶĂƚĂƵĂĚĂŶLJĂƉĞŵďĞƌŝƚĂŚƵĂŶŵĞŶŐĞŶĂŝŬĞůĂůĂŝĂŶLJĂŶŐĚŝďĞƌŝŬĂŶŽůĞŚ
ŬƌĞĚŝƚƵƌ ŵŝƚĞŶ͖
Ŷ͘ ŵĞŶƚĂĂƚŝ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ LJĂŶŐďĞƌůĂŬƵďĞƌŬĂŝƚĂŶĚĞŶŐĂŶŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ŵŝƚĞŶ͖
Ž͘ ŵĞŵďĂLJĂƌƐĞŵƵĂŬĞǁĂũŝďĂŶ ƉĂũĂŬ ŵŝƚĞŶƐĞďĂŐĂŝŵĂŶĂ ŵĞƐƚŝŶLJĂ͖
Ɖ͘ ŵĞŵďĞƌŝ ŝũŝŶ ŬĞƉĂĚĂ tĂůŝ ŵĂŶĂƚ ĂƚĂƵ ƉŝŚĂŬ LJĂŶŐ ĚŝƚƵŶũƵŬ ŽůĞŚ tĂůŝ ŵĂŶĂƚ ĚĞŶŐĂŶ
ƉĞŵďĞƌŝƚĂŚƵĂŶƚĞƌƚƵůŝƐϳ;ƚƵũƵŚͿ,Ăƌŝ<ĞƌũĂƐĞďĞůƵŵŶLJĂƐĞůĂŵĂũĂŵŬĞƌũĂ ŵŝƚĞŶ͕ ƵŶƚƵŬŵĞŵĂƐƵŬŝ
ŐĞĚƵŶŐͲŐĞĚƵŶŐ LJĂŶŐ ĚŝŵŝůŝŬŝ ĂƚĂƵ ĚŝŬƵĂƐĂŝ ŵŝƚĞŶ ƉĂĚĂ ƐĂĂƚ ũĂŵ ŬĞƌũĂ ŵŝƚĞŶ ĚĂŶ ƵŶƚƵŬ
ŵĞůĂŬƵŬĂŶ ƉĞŵĞƌŝŬƐĂĂŶ ĂƚĂƐ ĚŽŬƵŵĞŶͲĚŽŬƵŵĞŶ ůĂŝŶ ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ WĞƌũĂŶũŝĂŶ
WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĞŶŐĂŶŵĞŵĞŶƵŚŝƐĞŵƵĂƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͖
Ƌ͘ ŵĞŵƉĞƌŽůĞŚ͕ŵĞŵĂƚƵŚŝ ƐĞŐĂůĂŬĞƚĞŶƚƵĂŶĚĂŶŵĞůĂŬƵŬĂŶŚĂůͲŚĂůLJĂŶŐĚŝƉĞƌůƵŬĂŶƵŶƚƵŬŵĞŶũĂŐĂ
ƚĞƚĂƉ ďĞƌůĂŬƵŶLJĂ ƐĞŐĂůĂ ŬƵĂƐĂ͕ ŝnjŝŶ͕ ĚĂŶ ƉĞƌƐĞƚƵũƵĂŶ ĚĂƌŝƉĞŵĞƌŝŶƚĂŚ ƐĞƌƚĂ ƉĞƌŝnjŝŶĂŶ ͲƉĞƌŝnjŝŶĂŶ
8
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PT INDOMOBIL FINANCE INDONESIA
ƉĞŶƚŝŶŐ ĚĞŶŐĂŶƉŝŚĂŬ ůĂŝŶ LJĂŶŐ ďĞƌŚƵďƵŶŐĂŶĚĞŶŐĂŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ŵŝƚĞŶ ƐĞďĂŐĂŝŵĂŶĂ ĚĂƌŝ
ǁĂŬƚƵŬĞǁĂŬƚƵ ĚŝƐLJĂƌĂƚŬĂŶŽůĞŚŚƵŬƵŵLJĂŶŐďĞƌůĂŬƵ͖
ƌ͘ ŵĞŶĞƌďŝƚŬĂŶ ĚĂŶ ŵĞŶLJĞƌĂŚŬĂŶ ^ĞƌƚŝƉŝŬĂƚ :ƵŵďŽ KďůŝŐĂƐŝ ŬĞƉĂĚĂ <^ /͕ ƵŶƚƵŬ ŬĞƉĞŶƚŝŶŐĂŶ
WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ƐĞďĂŐĂŝ ďƵŬƚŝ ƉĞŶĐĂƚĂƚĂŶ ĚĂůĂŵ ĂĨƚĂƌ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ ĚĂŶ
ŵĞŶLJĂŵƉĂŝŬĂŶ ĨŽƚŽŬŽƉŝ^ĞƌƚŝƉŝŬĂƚ:ƵŵďŽKďůŝŐĂƐŝĚĞŶŐĂŶƚĂŶĚĂƚĞƌŝŵĂĚĂƌŝ<^ /ƚĞƌƐĞďƵƚŬĞƉĂĚ Ă
tĂůŝŵĂŶĂƚ͖
Ɛ͘ ŵĞůĂŬƵŬĂŶ ƉĞŵĞƌŝŶŐŬĂƚĂŶ ĂƚĂƐ KďůŝŐĂƐŝ ƐĞƐƵĂŝWĞƌĂƚƵƌĂŶK:<EŽ͘ ϰϵͬϮϬϮϬ͕LJĂŶŐ ǁĂũŝď ĚŝƉĂƚƵŚŝ
ŽůĞŚ ŵŝƚĞŶ ƐĞŚƵďƵŶŐĂŶĚĞŶŐĂŶ ƉĞŵĞƌŝŶŐŬĂƚĂŶ ĂƚĂƵ ŵĞůĂŬƵŬĂŶ ƉĞŵĞƌŝŶŐŬĂƚĂŶ ƐĞƐƵĂŝĚĞŶŐĂŶ
ƉĞƌĂƚƵƌĂŶK:<͕ĂƉĂďŝůĂƚĞƌũĂĚŝƉĞƌƵďĂŚĂŶƚĞƌŚĂĚĂƉWĞƌĂƚƵƌĂŶK:<EŽ͘ϰϵͬϮϬϮϬ͘
ƚ͘ ĂůĂŵ ŚĂůKďůŝŐĂƐŝ ƚĞůĂŚũĂƚƵŚ ƚĞŵƉŽ͕ ŵĂŬĂ ŵŝƚĞŶ ďĞƌƐĞĚŝĂĚĂŶĚŝǁĂũŝďŬĂŶ ƵŶƚƵŬďĞƌƚĂŶŐŐƵŶŐ
ũĂǁĂď ƐĞĐĂƌĂĨŝŶĂŶƐŝĂů ĚĂŶŚƵŬƵŵ ŵĞŶŐĞŶĂŝƉĞůƵŶĂƐĂŶ ŬĞƐĞůƵƌƵŚĂŶĂƚĂƐ WŽŬŽŬKďůŝŐĂƐŝ͕ ƵŶŐĂ
KďůŝŐĂƐŝ͕ƐĞƌƚĂĞŶĚĂ;ũŝŬĂĂĚĂͿ͘
ϱ͘ < >>/EW Z^ ZKE
ϭ͘ϭ <ŽŶĚŝƐŝͲŬŽŶĚŝƐŝ LJĂŶŐĚĂƉĂƚ ŵĞŶLJĞďĂďŬĂŶWĞƌƐĞƌŽĂŶĚŝŶLJĂƚĂŬĂŶ ůĂůĂŝĂƉĂďŝůĂ ƚĞƌũĂĚŝƐĂůĂŚ ƐĂƚƵ ĂƚĂƵ ůĞďŝŚ
ĚĂƌŝŬĞĂĚĂĂŶĂƚĂƵŬĞũĂĚŝĂŶĂƚĂƵŚĂůͲŚĂůƚĞƌƐĞďƵƚĚŝďĂǁĂŚŝŶŝ͗
Ă͘ WĞƌƐĞƌŽĂŶƚŝĚĂŬ ŵĞŵďĂLJĂƌ WŽŬŽŬKďůŝŐĂƐŝƉĂĚĂ dĂŶŐŐĂů WĞůƵŶĂƐĂŶWŽŬŽŬKďůŝŐĂƐŝ ŬĞƉĂĚĂWĞŵĞŐĂŶŐ
KďůŝŐĂƐŝĚĂŶͬĂƚĂƵ ƵŶŐĂKďůŝŐĂƐŝƉĂĚĂdĂŶŐŐĂů WĞŵďĂLJĂƌĂŶƵŶŐĂKďůŝŐĂƐŝŬĞƉĂĚĂWĞŵĞŐĂŶŐKďůŝŐĂƐŝ
ďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͖ ĂƚĂƵ
ď͘ WĞƌƐĞƌŽĂŶƚŝĚĂŬ ŵĞůĂŬƐĂŶĂŬĂŶ ĂƚĂƵ ƚŝĚĂŬ ŵĞŶƚĂĂƚŝ ƐĂůĂŚ ƐĂƚƵ ĂƚĂƵ ůĞďŝŚŬĞƚĞŶƚƵĂŶ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ
WĞƌǁĂůŝĂŵĂŶĂƚĂŶ LJĂŶŐ ƐĞĐĂƌĂ ŵĂƚĞƌŝĂů ďĞƌĂŬŝďĂƚ ŶĞŐĂƚŝĨ ƚĞƌŚĂĚĂƉ ŬĞŵĂŵƉƵĂŶ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ
ŵĞŵĞŶƵŚŝŬĞǁĂũŝďĂŶŶLJĂ ďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶŽŬƵŵĞŶ ŵŝƐŝ;ƐĞůĂŝŶƉŽŝŶϱ͘ϭ
ŚƵƌƵĨĂĚŝĂƚĂƐͿ͖ĂƚĂƵ
Đ͘ WĞŶŐĂĚŝůĂŶĂƚĂƵ ŝŶƐƚĂŶƐŝƉĞŵĞƌŝŶƚĂŚLJĂŶŐďĞƌǁĞŶĂŶŐƚĞůĂŚŵĞŶLJŝƚĂ ĂƚĂƵŵĞŶŐĂŵďŝů ĂůŝŚĚĞŶŐĂŶĐĂƌĂ
ĂƉĂƉƵŶ ũƵŐĂƐĞŵƵĂ ĂƚĂƵ ƐĞďĂŐŝĂŶ ďĞƐĂƌŚĂƌƚĂ ďĞŶĚĂWĞƌƐĞƌŽĂŶĂƚĂƵ ƚĞůĂŚŵĞŶŐĂŵďŝů ƚŝŶĚĂŬĂŶ LJĂŶŐ
ŵĞŶŐŚĂůĂŶŐŝ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŵĞŶũĂůĂŶŬĂŶ ƐĞďĂŐŝĂŶ ďĞƐĂƌ ĂƚĂƵ ƐĞůƵƌƵŚ ƵƐĂŚĂŶLJĂ ƐĞŚŝŶŐŐĂ
ŵĞŵƉĞŶŐĂƌƵŚŝ ƐĞĐĂƌĂ ŵĂƚĞƌŝĂů ŬĞŵĂŵƉƵĂŶ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŵĞŵĞŶƵŚŝ ŬĞǁĂũŝďĂŶͲŬĞǁĂũŝďĂŶŶLJĂ
ďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͖ ĂƚĂƵ
Ě͘ ƉĂďŝůĂŬĞƚĞƌĂŶŐĂŶͲŬĞƚĞƌĂŶŐĂŶĚĂŶũĂŵŝŶĂŶͲũĂŵŝŶĂŶ WĞƌƐĞƌŽĂŶƚĞŶƚĂŶŐŬĞĂĚĂĂŶĂƚĂƵƐƚĂƚƵƐŬĞƵĂŶŐĂŶ
WĞƌƐĞƌŽĂŶĚĂŶͬĂƚĂƵ ƉĞŶŐĞůŽůĂĂŶ WĞƌƐĞƌŽĂŶLJĂŶŐ ƚĞƌŵĂŬƚƵď ĚĂůĂŵ ŽŬƵŵĞŶ ŵŝƐŝ ƐĞĐĂƌĂ ŵĂƚĞƌŝĂů
ƚŝĚĂŬ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞŶLJĂƚĂĂŶ ĂƚĂƵ ƚŝĚĂŬ ďĞŶĂƌ ĂĚĂŶLJĂ͕ LJĂŶŐ ŵĂŶĂ ŬĞƚŝĚĂŬƐĞƐƵĂŝĂŶ ĂƚĂƵ
ŬĞƚŝĚĂŬďĞŶĂƌĂŶƚĞƌƐĞďƵƚĚŝƐĞďĂďŬĂŶŬĂƌĞŶĂĂĚĂŶLJĂŬĞƐĞŶŐĂũĂĂŶĂƚĂƵŝƚŝŬĂĚďƵƌƵŬĚĂƌŝWĞƌƐĞƌŽĂŶ͖ĂƚĂƵ
Ğ͘ WĞƌƐĞƌŽĂŶĚĂŶͬĂƚĂƵ ŶĂŬWĞƌƵƐĂŚĂĂŶ;ũŝŬĂĂĚĂͿ ĚŝŶLJĂƚĂŬĂŶ ůĂůĂŝ ƐĞŚƵďƵŶŐĂŶĚĞŶŐĂŶƐƵĂƚƵƉĞƌũĂŶũŝĂŶ
ŚƵƚĂŶŐ ŽůĞŚƐĂůĂŚ ƐĂƚƵĂƚĂƵ ůĞďŝŚŬƌĞĚŝƚƵƌŶLJĂ;ĐƌŽƐƐ ĚĞĨĂƵůƚͿĚĂůĂŵ ũƵŵůĂŚ ŚƵƚĂŶŐ ŵĞůĞďŝŚŝϯϬй;ƚŝŐĂ
ƉƵůƵŚ ƉĞƌƐĞŶͿ ĚĂƌŝ ŶŝůĂŝ ĞŬƵŝƚĂƐ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ůĂƉŽƌĂŶ ŬĞƵĂŶŐĂŶ ƚƌŝǁƵůĂŶ ƚĞƌĂŬŚŝƌ͕ LJĂŶŐ
ďĞƌĂŬŝďĂƚ ũƵŵůĂŚ LJĂŶŐ ƚĞƌŚƵƚĂŶŐ ŽůĞŚWĞƌƐĞƌŽĂŶďĞƌĚĂƐĂƌŬĂŶ ƉĞƌũĂŶũŝĂŶŚƵƚĂŶŐ ƚĞƌƐĞďƵƚƐĞůƵƌƵŚŶLJĂ
ŵĞŶũĂĚŝĚĂƉĂƚƐĞŐĞƌĂĚŝƚĂŐŝŚŽůĞŚƉŝŚĂŬLJĂŶŐŵĞŵƉƵŶLJĂŝƚĂŐŝŚĂŶĚĂŶͬĂƚĂƵŬƌĞĚŝƚƵƌLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ
ƐĞďĞůƵŵǁĂŬƚƵŶLJĂ ƵŶƚƵŬŵĞŵďĂLJĂƌŬĞŵďĂůŝ;ĂŬƐĞůĞƌĂƐŝƉĞŵďĂLJĂƌĂŶ ŬĞŵďĂůŝͿ͖
ϭ͘Ϯ ĂůĂŵ ŚĂůƚĞƌũĂĚŝƐĂůĂŚƐĂƚƵŬĞĂĚĂĂŶĂƚĂƵŬĞũĂĚŝĂŶƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵ͗
Ă͘ ŶŐŬĂ ϱ͘ϭŚƵƌƵĨ ĂĚĂŶ ŬĞĂĚĂĂŶ ĂƚĂƵ ŬĞũĂĚŝĂŶ ƚĞƌƐĞďƵƚďĞƌůĂŶŐƐƵŶŐ ƐĞůĂŵĂ ϭϬ;ƐĞƉƵůƵŚͿ ,Ăƌŝ <ĞƌũĂ͕
ƐĞƚĞůĂŚ ĚŝƚĞƌŝŵĂŶLJĂ ƚĞŐƵƌĂŶƚĞƌƚƵůŝƐ ĚĂƌŝ tĂůŝ ŵĂŶĂƚ͕ ƚĂŶƉĂ ĚŝŚŝůĂŶŐŬĂŶŶLJĂ ŬĞĂĚĂĂŶ ƚĞƌƐĞďƵƚĂƚĂƵ
ƚĂŶƉĂ ĂĚĂŶLJĂ ƵƉĂLJĂ ƉĞƌďĂŝŬĂŶ ƵŶƚƵŬ ŵĞŶŐŚŝůĂŶŐŬĂŶ ŬĞĂĚĂĂŶ ƚĞƌƐĞďƵƚ͕ LJĂŶŐ ĚĂƉĂƚ ĚŝƐĞƚƵũƵŝ ĚĂŶ
ĚŝƚĞƌŝŵĂŽůĞŚtĂůŝŵĂŶĂƚ͖
ď͘ ŶŐŬĂ ϱ͘ϭ ŚƵƌƵĨ ď ƐĂŵƉĂŝ ĚĞŶŐĂŶ ŚƵƌƵĨ Ğ ĚĂŶ ŬĞĂĚĂĂŶ ĂƚĂƵ ŬĞũĂĚŝĂŶ ƚĞƌƐĞďƵƚ ďĞƌůĂŶŐƐƵŶŐ ƚĞƌƵƐ
ŵĞŶĞƌƵƐĚĂůĂŵ ǁĂŬƚƵ LJĂŶŐ ĚŝƚĞŶƚƵŬĂŶŽůĞŚtĂůŝŵĂŶĂƚ LJĂŶŐƚĞƌĐĂŶƚƵŵĚĂůĂŵ ƚĞŐƵƌĂŶƚĞƌƚƵůŝƐĚĂƌŝ
tĂůŝ ŵĂŶĂƚ ƉĂůŝŶŐ ůĂŵĂ ϵϬ ;ƐĞŵďŝůĂŶ ƉƵůƵŚͿ ,Ăƌŝ <ĂůĞŶĚĞƌƐĞũĂŬ ƐƵƌĂƚ ƚĞŐƵƌĂŶ ĚĂƌŝ tĂůŝ ŵĂŶĂƚ
ŵĞŶŐĞŶĂŝŬĞůĂůĂŝĂŶƚĞƌƐĞďƵƚ͕ƚĂŶƉĂĂĚĂŶLJĂƵƉĂLJĂƉĞƌďĂŝŬĂŶLJĂŶŐŵƵůĂŝĚŝůĂŬƵŬĂŶŽůĞŚWĞƌƐĞƌŽĂŶĂƚĂƵ
ƚĂŶƉĂĚŝŚŝůĂŶŐŬĂŶŶLJĂ ŬĞĂĚĂĂŶƚĞƌƐĞďƵƚ͘
tĂůŝŵĂŶĂƚ ǁĂũŝďŵĞŵďĞƌŝƚĂŚƵŬĂŶ ŬĞĂĚĂĂŶĂƚĂƵŬĞũĂĚŝĂŶƚĞƌƐĞďƵƚŬĞƉĂĚĂWĞŵĞŐĂŶŐKďůŝŐĂƐŝŵĞůĂůƵŝϭ
;ƐĂƚƵͿ ƐƵƌĂƚ ŬĂďĂƌ ŚĂƌŝĂŶ ďĞƌďĂŚĂƐĂ /ŶĚŽŶĞƐŝĂ LJĂŶŐ ďĞƌƉĞƌĞĚĂƌĂŶŶĂƐŝŽŶĂů͕ ĂƚĂƐ ďŝĂLJĂ WĞƌƐĞƌŽĂŶ͘tĂůŝ
ŵĂŶĂƚ ĂƚĂƐ ƉĞƌƚŝŵďĂŶŐĂŶŶLJĂ ƐĞŶĚŝƌŝďĞƌŚĂŬŵĞŵĂŶŐŐŝů ZhWK ŵĞŶƵƌƵƚ ŬĞƚĞŶƚƵĂŶ ĚĂŶƚĂƚĂ ĐĂƌĂ LJĂŶŐ
ĚŝƚĞŶƚƵŬĂŶ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘ ĂůĂŵ ZhWK ƚĞƌƐĞďƵƚ͕ tĂůŝ ŵĂŶĂƚ ĂŬĂŶ ŵĞŵŝŶƚĂ
WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŵĞŵďĞƌŝŬĂŶ ƉĞŶũĞůĂƐĂŶ ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ ŬĞůĂůĂŝĂŶ ƚĞƌƐĞďƵƚ͘ ƉĂďŝůĂ ZhWK ƚŝĚĂŬ
ĚĂƉĂƚ ŵĞŶĞƌŝŵĂ ƉĞŶũĞůĂƐĂŶ ĚĂŶ ĂůĂƐĂŶͲĂůĂƐĂŶ WĞƌƐĞƌŽĂŶ͕ ƐĞƌƚĂ ZhWK ŵĞŵƵƚƵƐŬĂŶ ĂŐĂƌ tĂůŝ ŵĂŶĂƚ
ŵĞůĂŬƵŬĂŶ ƉĞŶĂŐŝŚĂŶ ŬĞƉĂĚĂ WĞƌƐĞƌŽĂŶ͕ŵĂŬĂ KďůŝŐĂƐŝ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞƉƵƚƵƐĂŶ ZhWK ŵĞŶũĂĚŝ ũĂƚƵŚ
ƚĞŵƉŽƐĞŚŝŶŐŐĂ ĚĂƉĂƚ ĚŝƚƵŶƚƵƚ ƉĞŵďĂLJĂƌĂŶŶLJĂ ĚĞŶŐĂŶƐĞŐĞƌĂĚĂŶƐĞŬĂůŝŐƵƐ͘ tĂůŝŵĂŶĂƚ ĚĂůĂŵ ǁĂŬƚƵ
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PT INDOMOBIL FINANCE INDONESIA
LJĂŶŐĚŝƚĞŶƚƵŬĂŶĚĂůĂŵŬĞƉƵƚƵƐĂŶZhWKŝƚƵŚĂƌƵƐŵĞůĂŬƵŬĂŶƉĞŶĂŐŝŚĂŶŬĞƉĂĚĂWĞƌƐĞƌŽĂŶ͘ĂůĂŵŬĞĂĚĂĂŶ
ƚĞƌƐĞďƵƚĚŝĂƚĂƐ WĞƌƐĞƌŽĂŶĚĂŶͬĂƚĂƵ ŶĂŬWĞƌƵƐĂŚĂĂŶŶLJĂ;ũŝŬĂĂĚĂͿĚĂŶͬĂƚĂƵ ĨŝůŝĂƐŝŶLJĂĚŝůĂƌĂŶŐŵĞŵďĞůŝ
ŬĞŵďĂůŝĂƚĂƵŵĞŵďĞůŝƐĞďĂŐŝĂŶKďůŝŐĂƐŝ͘
ϭ͘ϯ ƉĂďŝůĂ͗
Ă͘ WŝŚĂŬ LJĂŶŐ ďĞƌǁĞŶĂŶŐ ƐĞĐĂƌĂ ŚƵŬƵŵ ŵĞŶLJŝƚĂ ĂƚĂƵ ŵĞŶŐĂŵďŝů ĂůŝŚ ĚĞŶŐĂŶ ĐĂƌĂ ĂƉĂƉƵŶ ƚĞƌŵĂƐƵŬ
ŵĞůĂŬƵŬĂŶ ŶĂƐŝŽŶĂůŝƐĂƐŝ͕ ƐĞŵƵĂĂƚĂƵ ƐĞďĂŐŝĂŶŚĂƌƚĂďĞŶĚĂWĞƌƐĞƌŽĂŶĂƚĂƵ ƚĞůĂŚŵĞ ŶŐĂŵďŝů ƚŝŶĚĂŬĂŶ
LJĂŶŐ ŵĞŶŐŚĂůĂŶŐŝ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŵĞŶũĂůĂŶŬĂŶ ƐĞďĂŐŝĂŶ ĂƚĂƵ ƐĞůƵƌƵŚ ƵƐĂŚĂŶLJĂ ƐĞŚŝŶŐŐĂ
ŵĞŵƉĞŶŐĂƌƵŚŝ ƐĞĐĂƌĂŵĂƚĞƌŝĂů ŬĞŵĂŵƉƵĂŶ WĞƌƐĞƌŽĂŶƵŶƚƵŬ ŵĞŵĞŶƵŚŝŬĞǁĂũŝďĂŶ ŬĞǁĂũŝďĂŶ ĚĂůĂŵ
ŽŬƵŵĞŶ ŵŝƐŝ͖ĂƚĂƵ
ď͘ WĞƌƐĞƌŽĂŶĚŝďƵďĂƌŬĂŶŬĂƌĞŶĂƐĞďĂďĂƉĂƉƵŶ͖ĂƚĂƵ
Đ͘ WĞƌƐĞƌŽĂŶĚŝŶLJĂƚĂŬĂŶ ĚĂůĂŵŬĞĂĚĂĂŶƉĂŝůŝƚ͖ĂƚĂƵ
Ě͘ ĚĂŶLJĂƐƵĂƚƵWĞŶƵŶĚĂŶ<ĞǁĂũŝďĂŶWĞŵďĂLJĂƌĂŶhƚĂŶŐ ;W<WhͿLJĂŶŐĚŝĂũƵŬĂŶŽůĞŚWĞƌƐĞƌŽĂŶĚĂŶͬĂƚĂƵ
ŶĂŬWĞƌƵƐĂŚĂĂŶ;ũŝŬĂ ĂĚĂͿLJĂŶŐĚŝũĂŵŝŶ ůĂŶŐƐƵŶŐ ŽůĞŚWĞƌƐĞƌŽĂŶLJĂŶŐƚĞůĂŚŵĞŵƉĞƌŽůĞŚŬĞƉƵƚƵƐĂŶ
LJĂŶŐŵĞŵƉƵŶLJĂŝŬĞŬƵĂƚĂŶŚƵŬƵŵƚĞƚĂƉĚĂƌŝWĞŶŐĂĚŝůĂŶEŝĂŐĂ LJĂŶŐďĞƌǁĞŶĂŶŐ͘
DĂŬĂ tĂůŝŵĂŶĂƚ ďĞƌŚĂŬƚĂŶƉĂ ŵĞŵĂŶŐŐŝů ZhWK ďĞƌƚŝŶĚĂŬ ŵĞǁĂŬŝůŝ ŬĞƉĞŶƚŝŶŐĂŶ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ
ĚĂŶŵĞŶŐĂŵďŝů ŬĞƉƵƚƵƐĂŶLJĂŶŐĚŝĂŶŐŐĂƉŵĞŶŐƵŶƚƵŶŐŬĂŶ WĞŵĞŐĂŶŐKďůŝŐĂƐŝĚĂŶƵŶƚƵŬŝƚƵtĂůŝŵĂŶĂƚ
ĚŝďĞďĂƐŬĂŶĚĂƌŝƐĞŐĂůĂƚŝŶĚĂŬĂŶĚĂŶƚƵŶƚƵƚĂŶ ŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝ͘ ĂůĂŵŚĂůŝŶŝKďůŝŐĂƐŝŵĞŶũĂĚŝũĂƚƵŚ
ƚĞŵƉŽĚĞŶŐĂŶƐĞŶĚŝƌŝŶLJĂ͘
ϭ͘ϰ WĞƌƐĞƌŽĂŶďĞƌŬĞǁĂũŝďĂŶ ƵŶƚƵŬ ŵĞŵďĂLJĂƌ ŐĂŶƚŝ ƌƵŐŝŬĞƉĂĚĂ tĂůŝŵĂŶĂƚ ĚĂŶͬĂƚĂƵ ŵĞŵďĞďĂƐŬĂŶ tĂůŝ
ŵĂŶĂƚĚĂƌŝƐĞƚŝĂƉĚĂŶƐĞŵƵĂŐƵŐĂƚĂŶ͕ ŬĞƌƵŐŝĂŶ͕ďŝĂLJĂ͕ƚĂŶŐŐƵŶŐĂŶ ĚĂŶŽŶŐŬŽƐůĂŝŶĂƉĂƉƵŶLJĂŶŐĚŝĚĞƌŝƚĂ
tĂůŝ ŵĂŶĂƚ ƚĞƌŵĂƐƵŬ ďŝĂLJĂ <ŽŶƐƵůƚĂŶ ŚƵŬƵŵ LJĂŶŐ ĚŝƐĞƚƵũƵŝ ŽůĞŚ WĞƌƐĞƌŽĂŶ ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ
ŬĞǁĂũŝďĂŶͲŬĞǁĂũŝďĂŶ WĞƌƐĞƌŽĂŶďĞƌĚĂƐĂƌŬĂŶŽŬƵŵĞŶ ŵŝƐŝ ŬĞĐƵĂůŝLJĂŶŐĚŝĂŬŝďĂƚŬĂŶ ŽůĞŚŬĞůĂůĂŝĂŶtĂůŝ
ŵĂŶĂƚ͘
ϲ͘ ZWdhDhDW D 'E' K>/'^/;ZhWKͿ
hŶƚƵŬ ƉĞŶLJĞůĞŶŐŐĂƌĂĂŶ ZhWK͕ ŬƵŽƌƵŵ LJĂŶŐ ĚŝƐLJĂƌĂƚŬĂŶ͕ ŚĂŬ ƐƵĂƌĂ ĚĂŶ ƉĞŶŐĂŵďŝůĂŶ ŬĞƉƵƚƵƐĂŶ ďĞƌůĂŬƵ
ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶĚŝďĂǁĂŚŝŶŝ͕ĚĞŶŐĂŶŵĞŵƉĞƌŚĂƚŝŬĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͗
ϲ͘ϭ ZhWKĚŝĂĚĂŬĂŶƵŶƚƵŬƚƵũƵĂŶ ĂŶƚĂƌĂůĂŝŶ͗
Ă͘ DĞŶŐĂŵďŝů ŬĞƉƵƚƵƐĂŶ ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ ƵƐƵůĂŶ WĞƌƐĞƌŽĂŶ ĂƚĂƵ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ŵĞŶŐĞŶĂŝ
ƉĞƌƵďĂŚĂŶ ũĂŶŐŬĂ ǁĂŬƚƵ KďůŝŐĂƐŝ͕ WŽŬŽŬ KďůŝŐĂƐŝ͕ ƐƵŬƵ ƵŶŐĂ KďůŝŐĂƐŝ͕ ƉĞƌƵďĂŚĂŶ ƚĂƚĂ ĐĂƌĂ ĂƚĂƵ
ƉĞƌŝŽĚĞƉĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝ͕ ĚĂŶ ŬĞƚĞŶƚƵĂŶ ůĂŝŶ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ͕ ĚĞŶŐĂŶ
ŵĞŵƉĞƌŚĂƚŝŬĂŶ WĞƌĂƚƵƌĂŶK:<EŽ͘ϮϬͬϮϬϮϬ͘
ď͘ DĞŶLJĂŵƉĂŝŬĂŶ ƉĞŵďĞƌŝƚĂŚƵĂŶ ŬĞƉĂĚĂ WĞƌƐĞƌŽĂŶĚĂŶͬĂƚĂƵ tĂůŝ ŵĂŶĂƚ͕ ŵĞŵďĞƌŝŬĂŶ ƉĞŶŐĂƌĂŚĂŶ
ŬĞƉĂĚĂtĂůŝŵĂŶĂƚ ĚĂŶͬĂƚĂƵ ŵĞŶLJĞƚƵũƵŝƐƵĂƚƵ ŬĞůŽŶŐŐĂƌĂŶ ǁĂŬƚƵ ĂƚĂƐ ƐƵĂƚƵ ŬĞůĂůĂŝĂŶďĞƌĚĂƐĂƌŬĂŶ
WĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ ƐĞƌƚĂ ĂŬŝďĂƚͲĂŬŝďĂƚŶLJĂ͕ ĂƚĂƵ ƵŶƚƵŬŵĞŶŐĂŵďŝů ƚŝŶĚĂŬĂŶ ůĂŝŶƐĞŚƵďƵŶŐĂŶ
ĚĞŶŐĂŶŬĞůĂůĂŝĂŶ͘
Đ͘ DĞŵďĞƌŚĞŶƚŝŬĂŶ tĂůŝŵĂŶĂƚ ĚĂŶŵĞŶƵŶũƵŬ ƉĞŶŐŐĂŶƚŝ tĂůŝŵĂŶĂƚ ŵĞŶƵƌƵƚŬĞƚĞŶƚƵĂŶ ͲŬĞƚĞŶƚƵĂŶ
WĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘
Ě͘ DĞŶŐĂŵďŝů ƚŝŶĚĂŬĂŶ ůĂŝŶ LJĂŶŐ ĚŝŬƵĂƐĂŬĂŶ ƵŶƚƵŬ ĚŝĂŵďŝů ŽůĞŚ ĂƚĂƵ ĂƚĂƐ ŶĂŵĂ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ
ƚĞƌŵĂƐƵŬ ƉĞŶĞŶƚƵĂŶ ƉŽƚĞŶƐŝ ŬĞůĂůĂŝĂŶ LJĂŶŐ ĚĂƉĂƚ ŵĞŶLJĞďĂďŬĂŶ ƚĞƌũĂĚŝŶLJĂ ŬĞůĂůĂŝĂŶ ƐĞďĂŐĂŝŵĂŶĂ
ĚŝŵĂŬƐƵĚĚĂůĂŵ WĂƐĂůϭϬWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶWĞƌĂƚƵƌĂŶK:<EŽ͘ϮϬͬϮϬϮϬ͘
Ğ͘ tĂůŝ ŵĂŶĂƚ ďĞƌŵĂŬƐƵĚ ŵĞŶŐĂŵďŝů ƚŝŶĚĂŬĂŶ ůĂŝŶ LJĂŶŐ ƚŝĚĂŬ ĚŝŬƵĂƐĂŬĂŶ ĂƚĂƵ ƚŝĚĂŬ ƚĞƌŵƵĂƚ ĚĂůĂŵ
WĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĂƚĂƵďĞƌĚĂƐĂƌŬĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ LJĂŶŐďĞƌůĂŬƵĚŝEĞŐĂƌĂ
ZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ͘
ϲ͘Ϯ ZhWKĚĂƉĂƚĚŝƐĞůĞŶŐŐĂƌĂŬĂŶĂƚĂƐƉĞƌŵŝŶƚĂĂŶ͗
Ă͘ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝďĂŝŬ ƐĞŶĚŝƌŝŵĂƵƉƵŶ ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂ LJĂŶŐ ŵĞǁĂŬŝůŝ ƉĂůŝŶŐ ƐĞĚŝŬŝƚůĞďŝŚĚĂƌŝ
ϮϬй;ĚƵĂƉƵůƵŚƉĞƌƐĞŶͿĚĂƌŝũƵŵůĂŚ KďůŝŐĂƐŝLJĂŶŐďĞůƵŵĚŝůƵŶĂƐŝƚŝĚĂŬƚĞƌŵĂƐƵŬ KďůŝŐĂƐŝLJĂŶŐĚŝŵŝůŝŬŝ
ŽůĞŚ WĞƌƐĞƌŽĂŶ ĚĂŶͬĂƚĂƵ ĨŝůŝĂƐŝŶLJĂ ŵĞŶŐĂũƵŬĂŶ ƉĞƌŵŝŶƚĂĂŶ ƚĞƌƚƵůŝƐ ŬĞƉĂĚĂ tĂůŝ ŵĂŶĂƚ ƵŶƚƵŬ
ĚŝƐĞůĞŶŐŐĂƌĂŬĂŶ ZhWK ĚĞŶŐĂŶ ŵĞůĂŵƉŝƌŬĂŶ ĂƐůŝ <dhZ͘ WĞƌŵŝŶƚĂĂŶ ƚĞƌƚƵůŝƐ ĚŝŵĂŬƐƵĚ ŚĂƌƵƐ ŵĞŵƵĂƚ
ĂĐĂƌĂ LJĂŶŐ ĚŝŵŝŶƚĂ͕ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ ƐĞũĂŬ ĚŝƚĞƌďŝƚŬĂŶŶLJĂ <dhZ ƚĞƌƐĞďƵƚ͕ KďůŝŐĂƐŝ LJĂŶŐ ĚŝŵŝůŝŬŝ
WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ LJĂŶŐ ŵĞŶŐĂũƵŬĂŶ ƉĞƌŵŝŶƚĂĂŶ ƚĞƌƚƵůŝƐ ŬĞƉĂĚĂ tĂůŝ ŵĂŶĂƚ ĂŬĂŶ ĚŝďĞŬƵŬĂŶ ŽůĞŚ
<^ / ƐĞũƵŵůĂŚ KďůŝŐĂƐŝ LJĂŶŐ ƚĞƌĐĂŶƚƵŵ ĚĂůĂŵ <dhZ ƚĞƌƐĞďƵƚ͘ WĞŶĐĂďƵƚĂŶ ƉĞŵďĞŬƵĂŶ KďůŝŐĂƐŝ ŽůĞŚ
<^ /ƚĞƌƐĞďƵƚŚĂŶLJĂĚĂƉĂƚĚŝůĂŬƵŬĂŶƐĞƚĞůĂŚŵĞŶĚĂƉĂƚƉĞƌƐĞƚƵũƵĂŶƐĞĐĂƌĂƚĞƌƚƵůŝƐĚĂƌŝtĂůŝŵĂŶĂƚ͘
ď͘ WĞƌƐĞƌŽĂŶ͖
Đ͘ tĂůŝŵĂŶĂƚ͖ ĂƚĂƵ
Ě͘ KƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶ͘
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PT INDOMOBIL FINANCE INDONESIA
ϲ͘ϯ WĞƌŵŝŶƚĂĂŶ ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵ ƉŽŝŶϲ͘Ϯ ŚƵƌƵĨĂ͕ ď͕ĚĂŶ Ě ǁĂũŝď ĚŝƐĂŵƉĂŝŬĂŶ ƐĞĐĂƌĂƚĞƌƚƵůŝƐ
ŬĞƉĂĚĂ tĂůŝŵĂŶĂƚ ĚĂŶ ƉĂůŝŶŐ ůĂŵďĂƚ ϯϬ;ƚŝŐĂ ƉƵůƵŚͿ,Ăƌŝ <ĂůĞŶĚĞƌƐĞƚĞůĂŚ ƚĂŶŐŐĂů ĚŝƚĞƌŝŵĂŶLJĂ ƐƵƌĂƚ
ƉĞƌŵŝŶƚĂĂŶƚĞƌƐĞďƵƚtĂůŝŵĂŶĂƚǁĂũŝď ŵĞůĂŬƵŬĂŶƉĂŶŐŐŝůĂŶƵŶƚƵŬZhWK͘
ϲ͘ϰ ĂůĂŵ ŚĂů tĂůŝ ŵĂŶĂƚ ŵĞŶŽůĂŬ ƉĞƌŵŽŚŽŶĂŶ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĂƚĂƵ WĞƌƐĞƌŽĂŶƵŶƚƵŬ ŵĞŶŐĂĚĂŬĂŶ
ZhWK͕ ŵĂŬĂ tĂůŝ ŵĂŶĂƚ ŚĂƌƵƐ ŵĞŵďĞƌŝƚĂŚƵŬĂŶ ƐĞĐĂƌĂ ƚĞƌƚƵůŝƐ ĂůĂƐĂŶ ƉĞŶŽůĂŬĂŶ ƚĞƌƐĞďƵƚ ŬĞƉ ĂĚĂ
ƉĞŵŽŚŽŶĚĞŶŐĂŶƚĞŵďƵƐĂŶ ŬĞƉĂĚĂKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶ͕ƉĂůŝŶŐůĂŵďĂƚϭϰ;ĞŵƉĂƚďĞůĂƐͿ,Ăƌŝ<ĂůĞŶĚĞƌ
ƐĞƚĞůĂŚĚŝƚĞƌŝŵĂŶLJĂ ƐƵƌĂƚƉĞƌŵŽŚŽŶĂŶ͘
ϲ͘ϱ WĞŶŐƵŵƵŵĂŶ͕ ƉĞŵĂŶŐŐŝůĂŶ ĚĂŶǁĂŬƚƵ ƉĞŶLJĞůĞŶŐŐĂƌĂĂŶZhWK͗
Ă͘ WĞŶŐƵŵƵŵĂŶ ZhWK ǁĂũŝď ĚŝůĂŬƵŬĂŶ ŵĞůĂůƵŝ ϭ ;ƐĂƚƵͿ ƐƵƌĂƚ ŬĂďĂƌ ŚĂƌŝĂŶ ďĞƌďĂŚĂƐĂ /ŶĚŽŶĞƐŝĂ LJĂŶŐ
ďĞƌƉĞƌĞĚĂƌĂŶŶĂƐŝŽŶĂů ĚĂůĂŵ ũĂŶŐŬĂ ǁĂŬƚƵ ƉĂůŝŶŐ ůĂŵďĂƚ ϭϰ;ĞŵƉĂƚ ďĞůĂƐͿ ,Ăƌŝ <ĂůĞŶĚĞƌ ƐĞďĞůƵŵ
ƉĞŵĂŶŐŐŝůĂŶ ZhWK͘
ď͘ WĞŵĂŶŐŐŝůĂŶ ZhWK ǁĂũŝď ĚŝůĂŬƵŬĂŶ ƉĂůŝŶŐ ůĂŵďĂƚ ϭϰ ;ĞŵƉĂƚ ďĞůĂƐͿ ,Ăƌŝ <ĂůĞŶĚĞƌ ƐĞďĞůƵŵ
ĚŝƐĞůĞŶŐŐĂƌĂŬĂŶŶLJĂ ZhWKŵĞůĂůƵŝƉĂůŝŶŐ ƐĞĚŝŬŝƚϭ;ƐĂƚƵͿƐƵƌĂƚ ŬĂďĂƌŚĂƌŝĂŶďĞƌďĂŚĂƐĂ/ŶĚŽŶĞƐŝĂLJĂŶŐ
ďĞƌƉĞƌĞĚĂƌĂŶŶĂƐŝŽŶĂů͘
Đ͘ WĞŵĂŶŐŐŝůĂŶ ƵŶƚƵŬ ZhWKŬĞĚƵĂĂƚĂƵ ŬĞƚŝŐĂĚŝůĂŬƵŬĂŶ ƉĂůŝŶŐ ůĂŵďĂƚ ϳ;ƚƵũƵŚͿ,Ăƌŝ<ĂůĞŶĚĞƌƐĞďĞůƵŵ
ZhWK ŬĞĚƵĂĂƚĂƵ ŬĞƚŝŐĂ ĚŝůĂŬƵŬĂŶ ĚĂŶ ĚŝƐĞƌƚĂŝ ŝŶĨŽƌŵĂƐŝ ďĂŚǁĂ ZhWK ƐĞďĞůƵŵŶLJĂ ĚŝƐĞůĞŶŐŐĂƌĂŬĂŶ
ƚĞƚĂƉŝƚŝĚĂŬŵĞŶĐĂƉĂŝŬƵŽƌƵŵ͘
Ě͘ WĞŵĂŶŐŐŝůĂŶ ZhWKŚĂƌƵƐĚĞŶŐĂŶƚĞŐĂƐŵĞŵƵĂƚ ƌĞŶĐĂŶĂZhWKĚĂŶŵĞŶŐƵŶŐŬĂƉŬĂŶ ŝŶĨŽƌŵĂƐŝĂŶƚĂƌ Ă
ůĂŝŶ͗
Ͳ dĂŶŐŐĂů͕ ƚĞŵƉĂƚ͕ ĚĂŶǁĂŬƚƵƉĞŶLJĞůĞŶŐŐĂƌĂĂŶZhWK͖
Ͳ ŐĞŶĚĂZhWK͖
Ͳ WŝŚĂŬLJĂŶŐŵĞŶŐĂũƵŬĂŶ ƵƐƵůĂŶĚŝƐĞůĞŶŐŐĂƌĂŬĂŶŶLJĂZhWK͖
Ͳ WĞŵĞŐĂŶŐKďůŝŐĂƐŝLJĂŶŐďĞƌŚĂŬŚĂĚŝƌĚĂŶŵĞŵŝůŝŬŝŚĂŬƐƵĂƌĂĚĂůĂŵ ZhWK͖ĚĂŶ
Ͳ <ƵŽƌƵŵLJĂŶŐĚŝƉĞƌůƵŬĂŶƵŶƚƵŬƉĞŶLJĞůĞŶŐŐĂƌĂĂŶĚĂŶƉĞŶŐĂŵďŝůĂŶ ŬĞƉƵƚƵƐĂŶZhWK͘
Ğ͘ ZhWKŬĞĚƵĂĚĂŶŬĞƚŝŐĂĚŝƐĞůĞŶŐŐĂƌĂŬĂŶƉĂůŝŶŐĐĞƉĂƚϭϰ;ĞŵƉĂƚďĞůĂƐͿ,Ăƌŝ<ĂůĞŶĚĞƌĚĂŶƉĂůŝŶŐůĂŵďĂƚ
Ϯϭ;ĚƵĂƉƵůƵŚƐĂƚƵͿ,Ăƌŝ<ĂůĞŶĚĞƌĚĂƌŝZhWKƐĞďĞůƵŵŶLJĂ͘
ϲ͘ϲ dĂƚĂ ĂƌĂZhWK͗
Ă͘ WĞŵĞŐĂŶŐKďůŝŐĂƐŝ͕ďĂŝŬƐĞŶĚŝƌŝŵĂƵƉƵŶĚŝǁĂŬŝůŝďĞƌĚĂƐĂƌŬĂŶƐƵƌĂƚŬƵĂƐĂďĞƌŚĂŬŵĞŶŐŚĂĚŝƌŝZhWKĚĂŶ
ŵĞŶŐŐƵŶĂŬĂŶ ŚĂŬƐƵĂƌĂŶLJĂƐĞƐƵĂŝĚĞŶŐĂŶũƵŵůĂŚ KďůŝŐĂƐŝLJĂŶŐĚŝŵŝůŝŬŝŶLJĂ͘
ď͘ WĞŵĞŐĂŶŐKďůŝŐĂƐŝ LJĂŶŐďĞƌŚĂŬŚĂĚŝƌĚĂůĂŵ ZhWKĂĚĂůĂŚ WĞŵĞŐĂŶŐKďůŝŐĂƐŝ LJĂŶŐŶĂŵĂŶLJĂ ƚĞƌĐĂƚĂƚ
ĚĂůĂŵĂĨƚĂƌWĞŵĞŐĂŶŐZĞŬĞŶŝŶŐƉĂĚĂϯ;ƚŝŐĂͿ,Ăƌŝ<ĞƌũĂƐĞďĞůƵŵƚĂŶŐŐĂůƉĞŶLJĞůĞŶŐŐĂƌĂĂŶZhWKLJĂŶŐ
ĚŝƚĞƌďŝƚŬĂŶŽůĞŚ<^ /͘
Đ͘ WĞŵĞŐĂŶŐKďůŝŐĂƐŝLJĂŶŐŵĞŶŐŚĂĚŝƌŝZhWKǁĂũŝďŵĞŶLJĞƌĂŚŬĂŶĂƐůŝ<dhZŬĞƉĂĚĂtĂůŝŵĂŶĂƚ͘
Ě͘ ^ĞůƵƌƵŚ KďůŝŐĂƐŝ LJĂŶŐ ĚŝƐŝŵƉĂŶ Ěŝ <^ / ĚŝďĞŬƵŬĂŶ ƐĞŚŝŶŐŐĂ KďůŝŐĂƐŝ ƚĞƌƐĞďƵƚ ƚŝĚĂŬ ĚĂƉĂƚ
ĚŝĂůŝŚŬĂŶͬĚŝƉŝŶĚĂŚďƵŬƵŬĂŶ ƐĞũĂŬ ϯ;ƚŝŐĂͿ ,Ăƌŝ <ĞƌũĂƐĞďĞůƵŵ ƚĂŶŐŐĂů ƉĞŶLJĞůĞŶŐŐĂƌĂĂŶ ZhWK ƐĂŵƉĂŝ
ĚĞŶŐĂŶƚĂŶŐŐĂů ďĞƌĂŬŚŝƌŶLJĂZhWK LJĂŶŐĚŝďƵŬƚŝŬĂŶ ĚĞŶŐĂŶ ĂĚĂŶLJĂ ƉĞŵďĞƌŝƚĂŚƵĂŶ ĚĂƌŝtĂůŝŵĂŶĂƚ
ĂƚĂƵƐĞƚĞůĂŚŵĞŵƉĞƌŽůĞŚƉĞƌƐĞƚƵũƵĂŶĚĂƌŝtĂůŝŵĂŶĂƚ͘dƌĂŶƐĂŬƐŝKďůŝŐĂƐŝLJĂŶŐƉĞŶLJĞůĞƐĂŝĂŶŶLJĂũĂƚƵŚ
ƉĂĚĂ ƚĂŶŐŐĂů ƚĂŶŐŐĂů ƚĞƌƐĞďƵƚ͕ ĚŝƚƵŶĚĂ ƉĞŶLJĞůĞƐĂŝĂŶŶLJĂ ƐĂŵƉĂŝ ϭ ;ƐĂƚƵͿ ,Ăƌŝ <ĞƌũĂƐĞƚĞůĂŚ ƚĂŶŐŐĂů
ƉĞůĂŬƐĂŶĂĂŶ ZhWK͘
Ğ͘ ^ĞƚŝĂƉKďůŝŐĂƐŝ ƐĞďĞƐĂƌZƉϭ͕Ͳ;ƐĂƚƵ ZƵƉŝĂŚͿďĞƌŚĂŬŵĞŶŐĞůƵĂƌŬĂŶϭ;ƐĂƚƵͿƐƵĂƌĂ ĚĂůĂŵ ZhWK͕ĚĞŶŐĂŶ
ĚĞŵŝŬŝĂŶƐĞƚŝĂƉWĞŵĞŐĂŶŐKďůŝŐĂƐŝĚĂůĂŵ ZhWKŵĞŵƉƵŶLJĂŝŚĂŬƵŶƚƵŬŵĞŶŐĞůƵĂƌŬĂŶƐƵĂƌĂƐĞũƵŵůĂŚ
KďůŝŐĂƐŝLJĂŶŐĚŝŵŝůŝŬŝŶLJĂ͘
Ĩ͘ ^ƵĂƌĂĚŝŬĞůƵĂƌŬĂŶĚĞŶŐĂŶƚĞƌƚƵůŝƐĚĂŶĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ĚĞŶŐĂŶŵĞŶLJĞďƵƚŬĂŶEŽŵŽƌ<dhZ͕ ŬĞĐƵĂůŝtĂůŝ
ŵĂŶĂƚ ŵĞŵƵƚƵƐŬĂŶ ůĂŝŶ͘
Ő͘ KďůŝŐĂƐŝ LJĂŶŐ ĚŝŵŝůŝŬŝ ŽůĞŚ WĞƌƐĞƌŽĂŶ ĚĂŶͬĂƚĂƵ ĨŝůŝĂƐŝŶLJĂ ƚŝĚĂŬ ŵĞŵŝůŝŬŝ ŚĂŬ ƐƵĂƌĂ ĚĂŶ ƚŝĚĂŬ
ĚŝƉĞƌŚŝƚƵŶŐŬĂŶĚĂůĂŵŬƵŽƌƵŵŬĞŚĂĚŝƌĂŶ͘
Ś͘ ^ĞďĞůƵŵƉĞůĂŬƐĂŶĂĂŶ ZhWK͗
Ͳ WĞƌƐĞƌŽĂŶďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŶLJĞƌĂŚŬĂŶĚĂĨƚĂƌWĞŵĞŐĂŶŐKďůŝŐĂƐŝĚĂƌŝĨŝůŝĂƐŝŶLJĂŬĞƉĂĚĂtĂů ŝ
ŵĂŶĂƚ͘
Ͳ WĞƌƐĞƌŽĂŶďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵďƵĂƚ ƐƵƌĂƚƉĞƌŶLJĂƚĂĂŶLJĂŶŐ ŵĞŶLJĂƚĂŬĂŶ ũƵŵůĂŚ KďůŝŐĂƐŝLJĂŶŐ
ĚŝŵŝůŝŬŝŽůĞŚWĞƌƐĞƌŽĂŶĚĂŶĨŝůŝĂƐŝŶLJĂ͘
Ͳ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĂƚĂƵ ŬƵĂƐĂ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ LJĂŶŐ ŚĂĚŝƌ ĚĂůĂŵ ZhWK ďĞƌŬĞǁĂũŝďĂŶ ƵŶƚƵŬ
ŵĞŵďƵĂƚ ƐƵƌĂƚƉĞƌŶLJĂƚĂĂŶ LJĂŶŐŵĞŶLJĂƚĂŬĂŶ ŵĞŶŐĞŶĂŝĂƉĂŬĂŚ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ŵĞŵŝůŝŬŝ ĂƚĂƵ
ƚŝĚĂŬŵĞŵŝůŝŬŝŚƵďƵŶŐĂŶĨŝůŝĂƐŝĚĞŶŐĂŶWĞƌƐĞƌŽĂŶ͘
ŝ͘ ZhWKĚĂƉĂƚ ĚŝƐĞůĞŶŐŐĂƌĂŬĂŶ ĚŝƚĞŵƉĂƚ WĞƌƐĞƌŽĂŶĂƚĂƵ ƚĞŵƉĂƚ ůĂŝŶLJĂŶŐ ĚŝƐĞƉĂŬĂƚŝ ĂŶƚĂƌĂ WĞƌƐĞƌŽĂŶ
ĚĂŶtĂůŝŵĂŶĂƚ͘
ũ͘ ZhWKĚŝƉŝŵƉŝŶŽůĞŚtĂůŝŵĂŶĂƚ͘
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PT INDOMOBIL FINANCE INDONESIA
Ŭ͘ tĂůŝŵĂŶĂƚ ǁĂũŝď ŵĞŵƉĞƌƐŝĂƉŬĂŶ ĂĐĂƌĂZhWKƚĞƌŵĂƐƵŬ ŵĂƚĞƌŝ ZhWKĚĂŶ ŵĞŶƵŶũƵŬEŽƚĂƌŝƐ ƵŶƚƵŬ
ŵĞŵďƵĂƚ ďĞƌŝƚĂĂĐĂƌĂZhWK͘
ů͘ ĂůĂŵ ŚĂů ƉĞŶŐŐĂŶƚŝĂŶ tĂůŝ ŵĂŶĂƚ ĚŝŵŝŶƚĂ ŽůĞŚ WĞƌƐĞƌŽĂŶĂƚĂƵ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ͕ ŵĂŬĂ ZhWK
ĚŝƉŝŵƉŝŶ ŽůĞŚ WĞƌƐĞƌŽĂŶ ĂƚĂƵ ǁĂŬŝů WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ LJĂŶŐ ŵĞŵŝŶƚĂ ĚŝĂĚĂŬĂŶ ZhWK ƚĞƌƐĞďƵƚ͘
WĞƌƐĞƌŽĂŶ ĂƚĂƵ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ LJĂŶŐ ŵĞŵŝŶƚĂ ĚŝĂĚĂŬĂŶŶLJĂ ZhWK ƚĞƌƐĞďƵƚ ĚŝǁĂũŝďŬĂŶ ƵŶƚƵŬ
ŵĞŵƉĞƌƐŝĂƉŬĂŶ ĂĐĂƌĂZhWK ĚĂŶ ŵĂƚĞƌŝ ZhWK ƐĞƌƚĂŵĞŶƵŶũƵŬ EŽƚĂƌŝƐ ƵŶƚƵŬ ŵĞŵďƵĂƚ ďĞƌŝƚĂĂĐĂƌĂ
ZhWK͘
ŵ͘ ^ƵĂƌĂďůĂŶŬŽ͕ĂďƐƚĂŝŶ ĚĂŶƐƵĂƌĂLJĂŶŐƚŝĚĂŬƐĂŚĚŝĂŶŐŐĂƉƚŝĚĂŬĚŝŬĞůƵĂƌŬĂŶ͘
ϲ͘ϳ ĞŶŐĂŶŵĞŵƉĞƌŚĂƚŝŬĂŶŬĞƚĞŶƚƵĂŶĚĂůĂŵƉŽŝŶϲ͘ϲŚƵƌƵĨŐĚŝĂƚĂƐ͕ŬƵŽƌƵŵĚĂŶƉĞŶŐĂŵďŝůĂŶ ŬĞƉƵƚƵƐĂŶ͗
Ă͘ ĂůĂŵ ŚĂů ZhWK ďĞƌƚƵũƵĂŶ ƵŶƚƵŬ ŵĞŵƵƚƵƐŬĂŶ ŵĞŶŐĞŶĂŝ ƉĞƌƵďĂŚĂŶ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ
ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵŬĞƚĞŶƚƵĂŶ ƉŽŝŶϲ͘ϭ͕ĚŝĂƚƵƌƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
;ŝͿ ƉĂďŝůĂZhWKĚŝŵŝŶƚĂŬĂŶ ŽůĞŚWĞƌƐĞƌŽĂŶŵĂŬĂ ǁĂũŝďĚŝƐĞůĞŶŐŐĂƌĂŬĂŶĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶƐĞďĂŐĂŝ
ďĞƌŝŬƵƚ͗
ϭͿ ŝŚĂĚŝƌŝŽůĞŚWĞŵĞŐĂŶŐ KďůŝŐĂƐŝĂƚĂƵ ĚŝǁĂŬŝůŝ ƉĂůŝŶŐ ƐĞĚŝŬŝƚ ϯͬϰ;ƚŝŐĂ ƉĞƌĞŵƉĂƚͿ ďĂŐŝĂŶ ĚĂƌŝ
ũƵŵůĂŚ KďůŝŐĂƐŝ LJĂŶŐ ŵĂƐŝŚ ďĞůƵŵ ĚŝůƵŶĂƐŝ ĚĂŶ ďĞƌŚĂŬŵĞŶŐĂŵďŝů ŬĞƉƵƚƵƐĂŶ LJĂŶŐ ƐĂŚ ĚĂŶ
ŵĞŶŐŝŬĂƚ ĂƉĂďŝůĂĚŝƐĞƚƵũƵŝƉĂůŝŶŐƐĞĚŝŬŝƚϯͬϰ;ƚŝŐĂƉĞƌĞŵƉĂƚͿďĂŐŝĂŶĚĂƌŝũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐ
ŚĂĚŝƌĚĂůĂŵ ZhWK͘
ϮͿ ĂůĂŵ ŚĂůŬƵŽƌƵŵŬĞŚĂĚŝƌĂŶƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚƉĂĚĂƉŽŝŶϭͿĚŝĂƚĂƐ ƚŝĚĂŬƚĞƌĐĂƉĂŝ͕ŵĂŬĂ
ǁĂũŝďĚŝĂĚĂŬĂŶ ZhWKLJĂŶŐŬĞĚƵĂ͘
ϯͿ ZhWKŬĞĚƵĂĚĂƉĂƚĚŝůĂŶŐƐƵŶŐŬĂŶ ĂƉĂďŝůĂĚŝŚĂĚŝƌŝŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝĂƚĂƵ ĚŝǁĂŬŝůŝƉĂůŝŶŐ
ƐĞĚŝŬŝƚϯͬϰ;ƚŝŐĂƉĞƌĞŵƉĂƚͿďĂŐŝĂŶĚĂƌŝũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐŵĂƐŝŚďĞůƵŵĚŝůƵŶĂƐŝĚĂŶďĞƌŚĂŬ
ŵĞŶŐĂŵďŝů ŬĞƉƵƚƵƐĂŶ LJĂŶŐ ƐĂŚ ĚĂŶ ŵĞŶŐŝŬĂƚ ĂƉĂďŝůĂ ĚŝƐĞƚƵũƵŝ ƉĂůŝŶŐ ƐĞĚŝŬŝƚ ϯͬϰ ;ƚŝŐĂ ƉĞƌ
ĞŵƉĂƚͿďĂŐŝĂŶĚĂƌŝũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐŚĂĚŝƌĚĂůĂŵZhWK͘
ϰͿ ĂůĂŵ ŚĂůŬƵŽƌƵŵŬĞŚĂĚŝƌĂŶ ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂ ƉŽŝŶϯͿĚŝĂƚĂƐ ƚŝĚĂŬ ƚĞƌĐĂƉĂŝ͕ŵĂŬĂ
ǁĂũŝďĚŝĂĚĂŬĂŶ ZhWKLJĂŶŐŬĞƚŝŐĂ
ϱͿ ZhWKŬĞƚŝŐĂĚĂƉĂƚĚŝůĂŶŐƐƵŶŐŬĂŶ ĂƉĂďŝůĂĚŝŚĂĚŝƌŝŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝĂƚĂƵ ĚŝǁĂŬŝůŝƉĂůŝŶŐ
ƐĞĚŝŬŝƚϯͬϰ;ƚŝŐĂƉĞƌĞŵƉĂƚͿďĂŐŝĂŶĚĂƌŝũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐŵĂƐŝŚďĞůƵŵĚŝůƵŶĂƐŝĚĂŶďĞƌŚĂŬ
ŵĞŶŐĂŵďŝůŬĞƉƵƚƵƐĂŶLJĂŶŐƐĂŚĚĂŶŵĞŶŐŝŬĂƚĂƉĂďŝůĂĚŝƐĞƚƵũƵŝƉĂůŝŶŐƐĞĚŝŬŝƚϭͬϮ;ƐĂƚƵƉĞƌĚƵĂͿ
ďĂŐŝĂŶĚĂƌŝũƵŵůĂŚ KďůŝŐĂƐŝLJĂŶŐŚĂĚŝƌĚĂůĂŵ ZhWK͘
;ŝŝͿ ƉĂďŝůĂZhWKĚŝŵŝŶƚĂŬĂŶ ŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝĂƚĂƵtĂůŝŵĂŶĂƚ ŵĂŬĂǁĂũŝďĚŝƐĞůĞŶŐŐĂƌĂŬĂŶ
ĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭͿ ŝŚĂĚŝƌŝ ŽůĞŚ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĂƚĂƵ ĚŝǁĂŬŝůŝ ƉĂůŝŶŐ ƐĞĚŝŬŝƚ Ϯͬϯ;ĚƵĂ ƉĞƌƚŝŐĂͿ ďĂŐŝĂŶ ĚĂƌŝ
ũƵŵůĂŚ KďůŝŐĂƐŝ LJĂŶŐ ŵĂƐŝŚ ďĞůƵŵ ĚŝůƵŶĂƐŝ ĚĂŶ ďĞƌŚĂŬŵĞŶŐĂŵďŝů ŬĞƉƵƚƵƐĂŶ LJĂŶŐ ƐĂŚ ĚĂŶ
ŵĞŶŐŝŬĂƚ ĂƉĂďŝůĂ ĚŝƐĞƚƵũƵŝƉĂůŝŶŐ ƐĞĚŝŬŝƚϭͬϮ;ƐĂƚƵ ƉĞƌĚƵĂͿ ďĂŐŝĂŶ ĚĂƌŝũƵŵůĂŚ KďůŝŐĂƐŝ LJĂŶŐ
ŚĂĚŝƌĚĂůĂŵ ZhWK͘
ϮͿ ĂůĂŵ ŚĂůŬƵŽƌƵŵŬĞŚĂĚŝƌĂŶƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚƉĂĚĂƉŽŝŶϭͿĚŝĂƚĂƐ ƚŝĚĂŬƚĞƌĐĂƉĂŝ͕ŵĂŬĂ
ǁĂũŝďĚŝĂĚĂŬĂŶ ZhWKLJĂŶŐŬĞĚƵĂ͘
ϯͿ ZhWKŬĞĚƵĂĚĂƉĂƚĚŝůĂŶŐƐƵŶŐŬĂŶ ĂƉĂďŝůĂĚŝŚĂĚŝƌŝŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝĂƚĂƵ ĚŝǁĂŬŝůŝƉĂůŝŶŐ
ƐĞĚŝŬŝƚϮͬϯ;ĚƵĂƉĞƌƚŝŐĂͿĚĂƌŝũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐŵĂƐŝŚďĞůƵŵĚŝůƵŶĂƐŝĚĂŶďĞƌŚĂŬŵĞŶŐĂŵďŝů
ŬĞƉƵƚƵƐĂŶLJĂŶŐƐĂŚĚĂŶŵĞŶŐŝŬĂƚĂƉĂďŝůĂĚŝƐĞƚƵũƵŝƉĂůŝŶŐƐĞĚŝŬŝƚϭͬϮ;ƐĂƚƵƉĞƌĚƵĂͿĚĂƌŝũƵŵůĂŚ
KďůŝŐĂƐŝLJĂŶŐŚĂĚŝƌĚĂůĂŵZhWK͘
ϰͿ ĂůĂŵ ŚĂůŬƵŽƌƵŵŬĞŚĂĚŝƌĂŶZhWKŬĞĚƵĂƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚĚŝĂƚĂƐ ƚŝĚĂŬƚĞƌĐĂƉĂŝ͕ŵĂŬĂ
ǁĂũŝďĚŝĂĚĂŬĂŶ ZhWKŬĞƚŝŐĂ͘
ϱͿ ZhWKŬĞƚŝŐĂĚĂƉĂƚĚŝůĂŶŐƐƵŶŐŬĂŶ ĂƉĂďŝůĂĚŝŚĂĚŝƌŝŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝĂƚĂƵ ĚŝǁĂŬŝůŝƉĂůŝŶŐ
ƐĞĚŝŬŝƚϮͬϯ;ĚƵĂƉĞƌƚŝŐĂͿĚĂƌŝũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐŵĂƐŝŚďĞůƵŵĚŝůƵŶĂƐŝĚĂŶďĞƌŚĂŬŵĞŶŐĂŵďŝů
ŬĞƉƵƚƵƐĂŶLJĂŶŐƐĂŚĚĂŶŵĞŶŐŝŬĂƚĂƉĂďŝůĂĚŝƐĞƚƵũƵŝƉĂůŝŶŐƐĞĚŝŬŝƚϭͬϮ;ƐĂƚƵƉĞƌĚƵĂͿĚĂƌŝũƵŵůĂŚ
KďůŝŐĂƐŝLJĂŶŐŚĂĚŝƌĚĂůĂŵZhWK͘
;ŝŝŝͿ ƉĂďŝůĂ ZhWK ĚŝŵŝŶƚĂŬĂŶ ŽůĞŚ K:< ŵĂŬĂ ǁĂũŝď ĚŝƐĞůĞŶŐŐĂƌĂŬĂŶ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ ŬƵŽƌƵŵ
ŬĞŚĂĚŝƌĂŶĚĂŶŬĞƉƵƚƵƐĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭͿ ŝŚĂĚŝƌŝ ŽůĞŚ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĂƚĂƵ ĚŝǁĂŬŝůŝ ƉĂůŝŶŐ ƐĞĚŝŬŝƚ ϭͬϮ;ƐĂƚƵ ƉĞƌĚƵĂͿ ĚĂƌŝ ũƵŵůĂŚ
KďůŝŐĂƐŝLJĂŶŐŵĂƐŝŚ ďĞůƵŵĚŝůƵŶĂƐŝ ĚĂŶďĞƌŚĂŬŵĞŶŐĂŵďŝů ŬĞƉƵƚƵƐĂŶLJĂŶŐƐĂŚĚĂŶŵĞŶŐŝŬĂƚ
ĂƉĂďŝůĂĚŝƐĞƚƵũƵŝƉĂůŝŶŐƐĞĚŝŬŝƚϭͬϮ;ƐĂƚƵƉĞƌĚƵĂͿĚĂƌŝũƵŵůĂŚ KďůŝŐĂƐŝLJĂŶŐŚĂĚŝƌĚĂůĂŵ ZhWK͘
ϮͿ ĂůĂŵ ŚĂůŬƵŽƌƵŵŬĞŚĂĚŝƌĂŶƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚƉĂĚĂƉŽŝŶϭͿĚŝĂƚĂƐ ƚŝĚĂŬƚĞƌĐĂƉĂŝ͕ŵĂŬĂ
ǁĂũŝďĚŝĂĚĂŬĂŶ ZhWKLJĂŶŐŬĞĚƵĂ͘
ϯͿ ZhWKŬĞĚƵĂĚĂƉĂƚĚŝůĂŶŐƐƵŶŐŬĂŶ ĂƉĂďŝůĂĚŝŚĂĚŝƌŝŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝĂƚĂƵ ĚŝǁĂŬŝůŝƉĂůŝŶŐ
ƐĞĚŝŬŝƚ ϭͬϮ ;ƐĂƚƵ ƉĞƌ ĚƵĂͿ ĚĂƌŝ ũƵŵůĂŚ KďůŝŐĂƐŝ LJĂŶŐ ŵĂƐŝŚ ďĞůƵŵ ĚŝůƵŶĂƐŝ ĚĂŶ ďĞƌŚĂŬ
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PT INDOMOBIL FINANCE INDONESIA
ŵĞŶŐĂŵďŝůŬĞƉƵƚƵƐĂŶLJĂŶŐƐĂŚĚĂŶŵĞŶŐŝŬĂƚĂƉĂďŝůĂĚŝƐĞƚƵũƵŝƉĂůŝŶŐƐĞĚŝŬŝƚϭͬϮ;ƐĂƚƵƉĞƌĚƵĂͿ
ĚĂƌŝũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐŚĂĚŝƌĚĂůĂŵ ZhWK͘
ϰͿ ĂůĂŵ ŚĂůŬƵŽƌƵŵŬĞŚĂĚŝƌĂŶZhWKŬĞĚƵĂƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚĚŝĂƚĂƐ ƚŝĚĂŬƚĞƌĐĂƉĂŝ͕ŵĂŬĂ
ǁĂũŝďĚŝĂĚĂŬĂŶ ZhWKŬĞƚŝŐĂ͘
ϱͿ ZhWKŬĞƚŝŐĂĚĂƉĂƚĚŝůĂŶŐƐƵŶŐŬĂŶ ĂƉĂďŝůĂĚŝŚĂĚŝƌŝŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝĂƚĂƵ ĚŝǁĂŬŝůŝƉĂůŝŶŐ
ƐĞĚŝŬŝƚ ϭͬϮ ;ƐĂƚƵ ƉĞƌ ĚƵĂͿ ĚĂƌŝ ũƵŵůĂŚ KďůŝŐĂƐŝ LJĂŶŐ ŵĂƐŝŚ ďĞůƵŵ ĚŝůƵŶĂƐŝ ĚĂŶ ďĞƌŚĂŬ
ŵĞŶŐĂŵďŝůŬĞƉƵƚƵƐĂŶLJĂŶŐƐĂŚĚĂŶŵĞŶŐŝŬĂƚĂƉĂďŝůĂĚŝƐĞƚƵũƵŝƉĂůŝŶŐƐĞĚŝŬŝƚϭͬϮ;ƐĂƚƵƉĞƌĚƵĂͿ
ĚĂƌŝũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐŚĂĚŝƌĚĂůĂŵ ZhWK͘
ď͘ ZhWK LJĂŶŐ ĚŝĂĚĂŬĂŶ ƵŶƚƵŬ ƚƵũƵĂŶ ƐĞůĂŝŶ ƉĞƌƵďĂŚĂŶ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ͕ ĚĂƉĂƚ
ĚŝƐĞůĞŶŐŐĂƌĂŬĂŶĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
;ŝͿ ŝŚĂĚŝƌŝ ŽůĞŚ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĂƚĂƵ ĚŝǁĂŬŝůŝ ƉĂůŝŶŐ ƐĞĚŝŬŝƚ ϯͬϰ ;ƚŝŐĂ ƉĞƌĞŵƉĂƚͿ ĚĂƌŝ ũƵŵůĂŚ
KďůŝŐĂƐŝ LJĂŶŐ ŵĂƐŝŚ ďĞůƵŵ ĚŝůƵŶĂƐŝ ĚĂŶ ďĞƌŚĂŬŵĞŶŐĂŵďŝů ŬĞƉƵƚƵƐĂŶ LJĂŶŐ ƐĂŚ ĚĂŶ ŵĞŶŐŝŬĂƚ
ĂƉĂďŝůĂĚŝƐĞƚƵũƵŝƉĂůŝŶŐƐĞĚŝŬŝƚϯͬϰ;ƚŝŐĂƉĞƌĞŵƉĂƚͿĚĂƌŝũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐŚĂĚŝƌĚĂůĂŵ ZhWK͘
;ŝŝͿ ĂůĂŵ ŚĂů ŬƵŽƌƵŵ ŬĞŚĂĚŝƌĂŶƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ƉĂĚĂ ƉŽŝŶ;ŝͿ ĚŝĂƚĂƐ ƚŝĚĂŬ ƚĞƌĐĂƉĂŝ͕ ŵĂŬĂ
ǁĂũŝďĚŝĂĚĂŬĂŶ ZhWKŬĞĚƵĂ͘
;ŝŝŝͿ ZhWK ŬĞĚƵĂ ĚĂƉĂƚ ĚŝůĂŶŐƐƵŶŐŬĂŶ ĂƉĂďŝůĂ ĚŝŚĂĚŝƌŝ ŽůĞŚWĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĂƚĂƵ ĚŝǁĂŬŝůŝ ƉĂůŝŶŐ
ƐĞĚŝŬŝƚϯͬϰ;ƚŝŐĂƉĞƌĞŵƉĂƚͿĚĂƌŝũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐŵĂƐŝŚďĞůƵŵĚŝůƵŶĂƐŝĚĂŶďĞƌŚĂŬŵĞŶŐĂŵďŝů
ŬĞƉƵƚƵƐĂŶLJĂŶŐƐĂŚĚĂŶŵĞŶŐŝŬĂƚ ĂƉĂďŝůĂĚŝƐĞƚƵũƵŝƉĂůŝŶŐƐĞĚŝŬŝƚϯͬϰ;ƚŝŐĂ ƉĞƌĞŵƉĂƚͿĚĂƌŝũƵŵůĂŚ
KďůŝŐĂƐŝLJĂŶŐŚĂĚŝƌĚĂůĂŵZhWK͘
;ŝǀͿ ĂůĂŵ ŚĂůŬƵŽƌƵŵŬĞŚĂĚŝƌĂŶZhWKŬĞĚƵĂƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ƉŽŝŶ;ŝŝŝͿĚŝĂƚĂƐ ƚŝĚĂŬƚĞƌĐĂƉĂŝ͕
ŵĂŬĂ ǁĂũŝďĚŝĂĚĂŬĂŶZhWKŬĞƚŝŐĂ͘
;ǀͿ ZhWK ŬĞƚŝŐĂ ĚĂƉĂƚ ĚŝůĂŶŐƐƵŶŐŬĂŶ ĂƉĂďŝůĂ ĚŝŚĂĚŝƌŝ ŽůĞŚWĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĂƚĂƵ ĚŝǁĂŬŝůŝ ƉĂůŝŶŐ
ƐĞĚŝŬŝƚϯͬϰ;ƚŝŐĂƉĞƌĞŵƉĂƚͿĚĂƌŝũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐŵĂƐŝŚďĞůƵŵĚŝůƵŶĂƐŝĚĂŶďĞƌŚĂŬŵĞŶŐĂŵďŝů
ŬĞƉƵƚƵƐĂŶLJĂŶŐƐĂŚĚĂŶŵĞŶŐŝŬĂƚďĞƌĚĂƐĂƌŬĂŶŬĞƉƵƚƵƐĂŶƐƵĂƌĂƚĞƌďĂŶLJĂŬ͘
;ǀŝͿ ĂůĂŵ ŚĂůŬƵŽƌƵŵŬĞŚĂĚŝƌĂŶZhWKŬĞĚƵĂƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ƉŽŝŶ;ǀͿĚŝĂƚĂƐ ƚŝĚĂŬ ƚĞƌĐĂƉĂŝ͕
ŵĂŬĂ ǁĂũŝďĚŝĂĚĂŬĂŶZhWKŬĞĞŵƉĂƚ͘
;ǀŝŝͿ ZhWKŬĞĞŵƉĂƚ ĚĂƉĂƚ ĚŝůĂŶŐƐƵŶŐŬĂŶ ĂƉĂďŝůĂ ĚŝŚĂĚŝƌŝŽůĞŚWĞŵĞŐĂŶŐ KďůŝŐĂƐŝĂƚĂƵ ĚŝǁĂŬŝůŝ LJĂŶŐ
ŵĂƐŝŚ ďĞůƵŵĚŝůƵŶĂƐŝ ĚĂŶ ďĞƌŚĂŬŵĞŶŐĂŵďŝů ŬĞƉƵƚƵƐĂŶ LJĂŶŐ ƐĂŚ ĚĂŶŵĞŶŐŝŬĂƚ ĚĂůĂŵ ŬƵŽƌƵŵ
ŬĞŚĂĚŝƌĂŶĚĂŶŬƵŽƌƵŵŬĞƉƵƚƵƐĂŶLJĂŶŐĚŝƚĞƚĂƉŬĂŶŽůĞŚK:<ĂƚĂƐƉĞƌŵŽŚŽŶĂŶtĂůŝŵĂŶĂƚ͘
;ǀŝŝŝͿ WĞŶŐƵŵƵŵĂŶ͕ ƉĞŵĂŶŐŐŝůĂŶ͕ ĚĂŶ ǁĂŬƚƵ ƉĞŶLJĞůĞŶŐŐĂƌĂĂŶ ZhWK ŬĞĞŵƉĂƚ ǁĂũŝď ŵĞŵĞŶƵŚŝ
ŬĞƚĞŶƚƵĂŶƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵƉŽŝŶϲ͘ϱĚŝĂƚĂƐ͘
ϲ͘ϴ ŝĂLJĂͲďŝĂLJĂ ƉĞŶLJĞůĞŶŐŐĂƌĂĂŶ ZhWK ƚĞƌŵĂƐƵŬ ƚĞƚĂƉŝ ƚŝĚĂŬ ƚĞƌďĂƚĂƐ ƉĂĚĂ ďŝĂLJĂ ƉĞŵĂƐĂŶŐĂŶ ŝŬůĂŶ ƵŶƚƵŬ
ƉĞŶŐƵŵƵŵĂŶ ĚĂŶ ƉĞŵĂŶŐŐŝůĂŶͲƉĞŵĂŶŐŐŝůĂŶ ZhWK͕ ďŝĂLJĂ EŽƚĂƌŝƐ ĚĂŶ ƐĞǁĂ ƌƵĂŶŐĂŶ ƵŶƚƵŬ
ƉĞŶLJĞůĞŶŐŐĂƌĂĂŶZhWKĚŝďĞďĂŶŬĂŶŬĞƉĂĚĂĚĂŶŵĞŶũĂĚŝƚĂŶŐŐƵŶŐũĂǁĂď WĞƌƐĞƌŽĂŶĚĂŶǁĂũŝď ĚŝďĂLJĂƌŬĂŶ
ŬĞƉĂĚĂ tĂůŝ ŵĂŶĂƚ ƉĂůŝŶŐ ůĂŵďĂƚ ϳ ;ƚƵũƵŚͿ ,Ăƌŝ <ĞƌũĂ ƐĞƚĞůĂŚ ƉĞƌŵŝŶƚĂĂŶ ďŝĂLJĂ ƚĞƌƐĞďƵƚ ĚŝƚĞƌŝŵĂ
WĞƌƐĞƌŽĂŶĚĂƌŝtĂůŝŵĂŶĂƚ͘
ϲ͘ϵ WĞŶLJĞůĞŶŐŐĂƌĂĂŶZhWKǁĂũŝďĚŝďƵĂƚŬĂŶďĞƌŝƚĂĂĐĂƌĂƐĞĐĂƌĂŶŽƚĂƌŝĂůŽůĞŚEŽƚĂƌŝƐ͘
ϲ͘ϭϬ <ĞƉƵƚƵƐĂŶ ZhWK ŵĞŶŐŝŬĂƚ ďĂŐŝ ƐĞŵƵĂ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ͕ WĞƌƐĞƌ ŽĂŶ ĚĂŶ tĂůŝ ŵĂŶĂƚ͕ ŬĂƌĞŶĂŶLJĂ
WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ͕ WĞƌƐĞƌŽĂŶ ĚĂŶ tĂůŝ ŵĂŶĂƚ ǁĂũŝď ŵĞŵĞŶƵŚŝ ŬĞƉƵƚƵƐĂŶͲŬĞƉƵƚƵƐĂŶ LJĂŶŐ ĚŝĂŵďŝů
ĚĂůĂŵ ZhWK͘ <ĞƉƵƚƵƐĂŶ ZhWK ŵĞŶŐĞŶĂŝ ƉĞƌƵďĂŚĂŶ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶͬĂƚĂƵ ƉĞƌũĂŶũŝĂŶ Ͳ
ƉĞƌũĂŶũŝĂŶ ůĂŝŶ ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ KďůŝŐĂƐŝ͕ ďĂƌƵ ďĞƌůĂŬƵ ĞĨĞŬƚŝĨ ƐĞũĂŬ ƚĂŶŐŐĂů ĚŝƚĂŶĚĂƚĂŶŐĂŶŝŶLJĂ
ƉĞƌƵďĂŚĂŶ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶͬĂƚĂƵ ƉĞƌũĂŶũŝĂŶ ƉĞƌũĂŶũŝĂŶ ůĂŝŶŶLJĂ ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ
KďůŝŐĂƐŝ͘
ϲ͘ϭϭ tĂůŝŵĂŶĂƚǁĂũŝďŵĞŶŐƵŵƵŵŬĂŶ ŚĂƐŝůZhWKĚĂůĂŵ ϭ;ƐĂƚƵͿƐƵƌĂƚŬĂďĂƌŚĂƌŝĂŶďĞƌďĂŚĂƐĂ/ŶĚ ŽŶĞƐŝĂLJĂŶŐ
ďĞƌƉĞƌĞĚĂƌĂŶ ŶĂƐŝŽŶĂů͕ ďŝĂLJĂͲďŝĂLJĂ LJĂŶŐ ĚŝŬĞůƵĂƌŬĂŶ ƵŶƚƵŬ ƉĞŶŐƵŵƵŵĂŶ ŚĂƐŝů ZhWK ƚĞƌƐĞďƵƚ ǁĂũŝď
ĚŝƚĂŶŐŐƵŶŐ ŽůĞŚWĞƌƐĞƌŽĂŶ͘
ϲ͘ϭϮ ƉĂďŝůĂ ZhWK LJĂŶŐ ĚŝƐĞůĞŶŐŐĂƌĂŬĂŶ ŵĞŵƵƚƵƐŬĂŶ ƵŶƚƵŬ ŵĞŶŐĂĚĂŬĂŶ ƉĞƌƵďĂŚĂŶ ĂƚĂƐ WĞƌũĂŶũŝĂŶ
WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶͬĂƚĂƵ ƉĞƌũĂŶũŝĂŶ ůĂŝŶŶLJĂ ĂŶƚĂƌĂ ůĂŝŶ ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ ƉĞƌƵďĂŚĂŶ ŶŝůĂŝ WŽŬŽŬ
KďůŝŐĂƐŝ͕ ƉĞƌƵďĂŚĂŶ ƚŝŶŐŬĂƚ ƵŶŐĂ KďůŝŐĂƐŝ͕ ƉĞƌƵďĂŚĂŶ ƚĂƚĂ ĐĂƌĂ ƉĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝ͕ ĚĂŶ
ƉĞƌƵďĂŚĂŶũĂŶŐŬĂ ǁĂŬƚƵ KďůŝŐĂƐŝ ĚĂŶ WĞƌƐĞƌŽĂŶŵĞŶŽůĂŬ ƵŶƚƵŬ ŵĞŶĂŶĚĂƚĂŶŐĂŶŝ ƉĞƌƵďĂŚĂŶWĞƌũĂŶũŝĂŶ
WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶͬĂƚĂƵ ƉĞƌũĂŶũŝĂŶ ůĂŝŶŶLJĂ ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ ŚĂů ƚĞƌƐĞďƵƚ ŵĂŬĂ ĚĂůĂŵ ǁĂŬƚƵ
ƐĞůĂŵďĂƚͲůĂŵďĂƚŶLJĂ ϯϬ;ƚŝŐĂƉƵůƵŚͿ,Ăƌŝ<ĂůĞŶĚĞƌƐĞũĂŬŬĞƉƵƚƵƐĂŶZhWKĂƚĂƵƚĂŶŐŐĂůůĂŝŶLJĂŶŐĚŝƉƵƚƵƐŬĂŶ
ZhWK ;ũŝŬĂ ZhWK ŵĞŵƵƚƵƐŬĂŶ ƐƵĂƚƵ ƚĂŶŐŐĂů ƚĞƌƚĞŶƚƵ ƵŶƚƵŬ ƉĞŶĂŶĚĂƚĂŶŐĂŶĂŶ ƉĞƌƵďĂŚĂŶ WĞƌũĂŶũŝĂŶ
WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶͬĂƚĂƵ ƉĞƌũĂŶũŝĂŶ ůĂŝŶŶLJĂ ƚĞƌƐĞďƵƚͿ ŵĂŬĂ tĂůŝ ŵĂŶĂƚ ďĞƌŚĂŬ ůĂŶŐƐƵŶŐ ƵŶƚƵŬ
ŵĞůĂŬƵŬĂŶƉĞŶĂŐŝŚĂŶ:ƵŵůĂŚdĞƌƵƚĂŶŐŬĞƉĂĚĂWĞƌƐĞƌŽĂŶƚĂŶƉĂƚĞƌůĞďŝŚĚĂŚƵůƵŵĞŶLJĞůĞŶŐŐĂƌĂŬĂŶZhWK͘
13
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PT INDOMOBIL FINANCE INDONESIA
ϲ͘ϭϯ WĞƌĂƚƵƌĂŶͲƉĞƌĂƚƵƌĂŶůĞďŝŚůĂŶũƵƚŵĞŶŐĞŶĂŝƉĞŶLJĞůĞŶŐŐĂƌĂĂŶƐĞƌƚĂƚĂƚĂĐĂƌĂĚĂůĂŵZhWKĚĂƉĂƚĚŝďƵĂƚĚĂŶ
ďŝůĂƉĞƌůƵŬĞŵƵĚŝĂŶĚŝƐĞŵƉƵƌŶĂŬĂŶ ĂƚĂƵĚŝƵďĂŚŽůĞŚWĞƌƐĞƌŽĂŶĚĂŶtĂůŝŵĂŶĂƚ ĚĞŶŐĂŶŵĞŶŐŝŶĚĂŚŬĂŶ
ƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵĚŝEĞŐĂƌĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂƐĞƌƚĂƉĞƌĂƚƵƌĂŶƵƌƐĂ ĨĞŬ͘
ϲ͘ϭϰ ƉĂďŝůĂ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ŵĞŶŐĞŶĂŝ ZhWK ĚŝƚĞŶƚƵŬĂŶ ůĂŝŶ ŽůĞŚ ƉĞƌĂƚƵƌĂŶ ƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ
ĚŝďŝĚĂŶŐWĂƐĂƌDŽĚĂů͕ ŵĂŬĂƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐƵŶĚĂŶŐĂŶ ĚŝWĂƐĂƌDŽĚĂůƚĞƌƐĞďƵƚLJĂŶŐďĞƌůĂŬƵ͘
ϳ͘ ,<Ͳ,< W D 'E' K>/'^/
DĞŶĞƌŝŵĂ ƉĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝ ĚĂŶͬĂƚĂƵ WĞůƵŶĂƐĂŶ WŽŬŽŬ KďůŝŐĂƐŝ ĚĂŶͬĂƚĂƵ ĞŶĚĂ ĚĂŶͬĂƚĂƵ
ƉĞŵďĂLJĂƌĂŶŚĂŬͲŚĂŬůĂŝŶĂƚĂƐŽďůŝŐĂƐŝͬĞĨĞŬďĞƌƐŝĨĂƚƵƚĂŶŐ;ũŝŬĂĂĚĂͿ͘WĞŵĞŐĂŶŐKďůŝŐĂƐŝLJĂŶŐďĞƌŚĂŬĂƚĂƐƵŶŐĂ
KďůŝŐĂƐŝ ĂĚĂůĂŚ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ LJĂŶŐ ŶĂŵĂŶLJĂ ƚĞƌĐĂƚĂƚ ĚĂůĂŵ ĂĨƚĂƌ WĞ ŵĞŐĂŶŐ ZĞŬĞŶŝŶŐƉĂĚĂ ϰ;ĞŵƉĂƚͿ
,Ăƌŝ <ĞƌũĂ ƐĞďĞůƵŵ dĂŶŐŐĂů WĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝ ŬĞĐƵĂůŝ ĚŝƚĞŶƚƵŬĂŶ ůĂŝŶ ŽůĞŚ <^ / ƐĞƐƵĂŝ ĚĞŶŐĂŶ
ŬĞƚĞŶƚƵĂŶ<^ /LJĂŶŐďĞƌůĂŬƵ͘ĞŶŐĂŶĚĞŵŝŬŝĂŶũŝŬĂƚĞƌũĂĚŝƚƌĂŶƐĂŬƐŝKďůŝŐĂƐŝĚĂůĂŵϰ;ĞŵƉĂƚͿ,Ăƌŝ<ĞƌũĂƐĞďĞůƵŵ
dĂŶŐŐĂůWĞŵďĂLJĂƌĂŶƵŶŐĂKďůŝŐĂƐŝ͕ƉĞŵďĞůŝKďůŝŐĂƐŝLJĂŶŐŵĞŶĞƌŝŵĂƉĞŶŐĂůŝŚĂŶKďůŝŐĂƐŝƚĞƌƐĞďƵƚƚŝĚĂŬďĞƌŚĂŬ
ĂƚĂƐ ƵŶŐĂ KďůŝŐĂƐŝ ƉĂĚĂƉĞƌŝŽĚĞƌƵŶŐĂKďůŝŐĂƐŝ LJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͕ ŬĞĐƵĂůŝĚŝƚĞŶƚƵŬĂŶ ůĂŝŶŽůĞŚ<^ /ƐĞƐƵĂŝ
ĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶ<^ /LJĂŶŐďĞƌůĂŬƵ͘
WĞŵĞŐĂŶŐKďůŝŐĂƐŝLJĂŶŐŶĂŵĂŶLJĂ ƚĞƌĐĂƚĂƚ ĚĂůĂŵĂĨƚĂƌWĞŵĞŐĂŶŐZĞŬĞŶŝŶŐďĞƌŚĂŬŵĞŵƉĞƌŽůĞŚƉĞŵďĂLJĂƌĂŶ
ĞŶĚĂƐĞďĞƐĂƌϬ͕ϱй;ŶŽůŬŽŵĂůŝŵĂƉĞƌƐĞŶͿƉĞƌƚĂŚƵŶĚŝĂƚĂƐ ƚŝŶŐŬĂƚƵŶŐĂKďůŝŐĂƐŝŵĂƐŝŶŐͲŵĂƐŝŶŐ ƐĞƌŝKďůŝŐĂƐŝ
ĚĂƌŝ ũƵŵůĂŚ ĚĂŶĂ LJĂŶŐ ƚĞƌůĂŵďĂƚ ĚŝďĂLJĂƌ͕ LJĂŶŐ ĚŝŚŝƚƵŶŐ ƐĞĐĂƌĂ ŚĂƌŝĂŶ ƐĞũĂŬ ŬĞƚĞƌůĂŵďĂƚĂŶ ƐĂŵƉĂŝ ĚĞŶŐĂŶ
ĚŝďĂLJĂƌůƵŶĂƐƐƵĂƚƵŬĞǁĂũŝďĂŶLJĂŶŐŚĂƌƵƐĚŝďĂLJĂƌďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͕ ĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶ
ϭ;ƐĂƚƵͿƚĂŚƵŶĂĚĂůĂŚϯϲϬ;ƚŝŐĂ ƌĂƚƵƐĞŶĂŵƉƵůƵŚͿŚĂƌŝĚĂŶϭ;ƐĂƚƵͿďƵůĂŶĂĚĂůĂŚ ϯϬ;ƚŝŐĂƉƵůƵŚͿŚĂƌŝ͘
WĞŵĞŐĂŶŐKďůŝŐĂƐŝďĂŝŬƐĞŶĚŝƌŝŵĂƵƉƵŶƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂ LJĂŶŐŵĞǁĂŬŝůŝ ƉĂůŝŶŐƐĞĚŝŬŝƚůĞďŝŚĚĂƌŝϮϬй;ĚƵĂ
ƉƵůƵŚƉĞƌƐĞŶͿĚĂƌŝũƵŵůĂŚ KďůŝŐĂƐŝ LJĂŶŐ ďĞůƵŵ ĚŝůƵŶĂƐŝ ;ƚŝĚĂŬ ƚĞƌŵĂƐƵŬ KďůŝŐĂƐŝ LJĂŶŐ ĚŝŵŝůŝŬŝ ŽůĞŚWĞƌƐĞƌŽĂŶ
ĚĂŶͬĂƚĂƵ ĨŝůŝĂƐŝWĞƌƐĞƌŽĂŶͿŵĞŶŐĂũƵŬĂŶ ƉĞƌŵŝŶƚĂĂŶƚĞƌƚƵůŝƐŬĞƉĂĚĂtĂůŝŵĂŶĂƚƵŶƚƵŬĚŝƐĞůĞŶŐŐĂƌĂŬĂŶZhWK
ĚĞŶŐĂŶ ŵĞůĂŵƉŝƌŬĂŶ ĂƐůŝ <dhZ͘ WĞƌŵŝŶƚĂĂŶ ƚĞƌƚƵůŝƐ ĚŝŵĂŬƐƵĚ ŚĂƌƵƐ ŵĞŵƵĂƚ ĂĐĂƌĂ LJĂŶŐ ĚŝŵŝŶƚĂ͕ ĚĞŶŐĂŶ
ŬĞƚĞŶƚƵĂŶƐĞũĂŬĚŝƚĞƌďŝƚŬĂŶŶLJĂ <dhZƚĞƌƐĞďƵƚ͕KďůŝŐĂƐŝLJĂŶŐĚŝŵŝůŝŬŝŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝLJ ĂŶŐŵĞŶŐĂũƵŬĂŶ
ƉĞƌŵŝŶƚĂĂŶ ƚĞƌƚƵůŝƐ ŬĞƉĂĚĂtĂůŝ ŵĂŶĂƚ ĂŬĂŶ ĚŝďĞŬƵŬĂŶ ŽůĞŚ<^ / ƐĞũƵŵůĂŚ KďůŝŐĂƐŝ LJĂŶŐ ƚĞƌĐĂŶƚƵŵ ĚĂůĂŵ
<dhZ ƚĞƌƐĞďƵƚ͘ WĞŶĐĂďƵƚĂŶ ƉĞŵďĞŬƵĂŶ ŽůĞŚ <^ / ƚĞƌƐĞďƵƚ ŚĂŶLJĂ ĚĂƉĂƚ ĚŝůĂŬƵŬĂŶ ƐĞƚĞůĂŚ ŵĞŶĚĂƉĂƚ
ƉĞƌƐĞƚƵũƵĂŶƐĞĐĂƌĂƚĞƌƚƵůŝƐĚĂƌŝtĂůŝŵĂŶĂƚ͘
ϴ͘ W D >/E< D>/
ϴ͘ϭ ĂůĂŵ ŚĂůWĞƌƐĞƌŽĂŶŵĞůĂŬƵŬĂŶ ƉĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝŵĂŬĂďĞƌůĂŬƵŬĞƚĞŶƚƵĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭ͘ WĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝĚŝƚƵũƵŬĂŶƐĞďĂŐĂŝƉĞůƵŶĂƐĂŶĂƚĂƵĚŝƐŝŵƉĂŶƵŶƚƵŬŬĞŵƵĚŝĂŶĚŝũƵĂůŬĞŵďĂůŝ
ĚĞŶŐĂŶŚĂƌŐĂƉĂƐĂƌ͘
Ϯ͘ WĞůĂŬƐĂŶĂĂŶƉĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝĚŝůĂŬƵŬĂŶŵĞůĂůƵŝƵƌƐĂ ĨĞŬĂƚĂƵĚŝůƵĂƌƵƌƐĂ ĨĞŬ͘
ϯ͘ WĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝďĂƌƵĚĂƉĂƚ ĚŝůĂŬƵŬĂŶϭ;ƐĂƚƵͿ ƚĂŚƵŶƐĞƚĞůĂŚdĂŶŐŐĂů WĞŶũĂƚĂŚĂŶ͘
ϰ͘ WĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝƚŝĚĂŬĚĂƉĂƚ ĚŝůĂŬƵŬĂŶĂƉĂďŝůĂŚĂůƚĞƌƐĞďƵƚŵĞŶŐĂŬŝďĂƚŬĂŶ WĞƌƐĞƌ ŽĂŶƚŝĚĂŬ
ĚĂƉĂƚŵĞŵĞŶƵŚŝŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶĚŝĚĂůĂŵWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘
ϱ͘ WĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝƚŝĚĂŬĚĂƉĂƚĚŝůĂŬƵŬĂŶĂƉĂďŝůĂWĞƌƐĞƌŽĂŶŵĞůĂŬƵŬĂŶŬĞůĂůĂŝĂŶ;ǁĂŶƉƌĞƐƚĂƐŝͿ
ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘
ϲ͘ WĞŵďĞůŝĂŶŬĞŵďĂůŝ KďůŝŐĂƐŝŚĂŶLJĂĚĂƉĂƚĚŝůĂŬƵŬĂŶŽůĞŚWĞƌƐĞƌŽĂŶĚĂƌŝƉŝŚĂŬLJĂŶŐƚŝĚĂŬƚĞƌĂĨŝůŝĂƐŝ͘
ϳ͘ ZĞŶĐĂŶĂƉĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝǁĂũŝďĚŝůĂƉŽƌŬĂŶŬĞƉĂĚĂK:<ŽůĞŚWĞƌƐĞƌŽĂŶƉĂůŝŶŐůĂŵďĂƚ Ϯ;ĚƵĂͿ
,Ăƌŝ<ĞƌũĂƐĞďĞůƵŵƉĞŶŐƵŵƵŵĂŶ ƌĞŶĐĂŶĂƉĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝƚĞƌƐĞďƵƚ͘
ϴ͘ WĞŵďĞůŝĂŶŬĞŵďĂůŝ KďůŝŐĂƐŝ͕ ďĂƌƵĚĂƉĂƚ ĚŝůĂŬƵŬĂŶ ƐĞƚĞůĂŚ ƉĞŶŐƵŵƵŵĂŶ ƌĞŶĐĂŶĂƉĞŵďĞůŝĂŶ ŬĞŵďĂůŝ
KďůŝŐĂƐŝ͘
ϵ͘ ZĞŶĐĂŶĂ ƉĞŵďĞůŝĂŶ ŬĞŵďĂůŝ KďůŝŐĂƐŝ ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵ ĂŶŐŬĂ ϳ ĚĂŶ ƉĞŶŐƵŵƵŵĂŶ
ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵĂŶŐŬĂ ϴ͕ƉĂůŝŶŐƐĞĚŝŬŝƚŵĞŵƵĂƚ ŝŶĨŽƌŵĂƐŝƚĞŶƚĂŶŐ͗
Ă͘ ƉĞƌŝŽĚĞƉĞŶĂǁĂƌĂŶƉĞŵďĞůŝĂŶŬĞŵďĂůŝ͖
ď͘ ũƵŵůĂŚĚĂŶĂŵĂŬƐŝŵĂů LJĂŶŐĚŝŐƵŶĂŬĂŶ ƵŶƚƵŬƉĞŵďĞůŝĂŶŬĞŵďĂůŝ͖
Đ͘ ŬŝƐĂƌĂŶũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐĂŬĂŶĚŝďĞůŝŬĞŵďĂůŝ͖
Ě͘ ŚĂƌŐĂĂƚĂƵŬŝƐĂƌĂŶŚĂƌŐĂLJĂŶŐĚŝƚĂǁĂƌŬĂŶ ƵŶƚƵŬƉĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝ͖
Ğ͘ ƚĂƚĂ ĐĂƌĂƉĞŶLJĞůĞƐĂŝĂŶƚƌĂŶƐĂŬƐŝ͖
Ĩ͘ ƉĞƌƐLJĂƌĂƚĂŶďĂŐŝWĞŵĞŐĂŶŐKďůŝŐĂƐŝLJĂŶŐŵĞŶŐĂũƵŬĂŶ ƉĞŶĂǁĂƌĂŶũƵĂů͖
Ő͘ ƚĂƚĂ ĐĂƌĂƉĞŶLJĂŵƉĂŝĂŶƉĞŶĂǁĂƌĂŶũƵĂůŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝ͖
Ś͘ ƚĂƚĂ ĐĂƌĂƉĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝ͖ĚĂŶ
ŝ͘ ŚƵďƵŶŐĂŶĨŝůŝĂƐŝĂŶƚĂƌĂ WĞƌƐĞƌŽĂŶĚĂŶWĞŵĞŐĂŶŐKďůŝŐĂƐŝ͘
14
Page 35
PT INDOMOBIL FINANCE INDONESIA
ϭϬ͘ WĞƌƐĞƌŽĂŶ ǁĂũŝď ŵĞůĂŬƵŬĂŶ ƉĞŶũĂƚĂŚĂŶ ƐĞĐĂƌĂ ƉƌŽƉŽƌƐŝŽŶĂů ƐĞďĂŶĚŝŶŐ ĚĞŶŐĂŶ ƉĂƌƚŝƐŝƉĂƐŝ ƐĞƚŝĂƉ
WĞŵĞŐĂŶŐKďůŝŐĂƐŝLJĂŶŐŵĞůĂŬƵŬĂŶ ƉĞŶũƵĂůĂŶKďůŝŐĂƐŝĂƉĂďŝůĂũƵŵůĂŚ KďůŝŐĂƐŝLJĂŶŐĚŝƚĂǁĂƌŬĂŶ ƵŶƚƵŬ
ĚŝũƵĂůŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝ͕ ŵĞůĞďŝŚŝũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐĚĂƉĂƚ ĚŝďĞůŝŬĞŵďĂůŝ͖
ϭϭ͘ WĞƌƐĞƌŽĂŶ ǁĂũŝď ŵĞŶũĂŐĂ ŬĞƌĂŚĂƐŝĂĂŶ ĂƚĂƐ ƐĞŵƵĂ ŝŶĨŽƌŵĂƐŝ ŵĞŶŐĞŶĂŝ ƉĞŶĂǁĂƌĂŶ ũƵĂů LJĂŶŐ ƚĞůĂŚ
ĚŝƐĂŵƉĂŝŬĂŶ ŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝ͖
ϭϮ͘ WĞƌƐĞƌŽĂŶ ĚĂƉĂƚ ŵĞůĂŬƐĂŶĂŬĂŶ ƉĞŵďĞůŝĂŶ ŬĞŵďĂůŝ KďůŝŐĂƐŝ ƚĂŶƉĂ ŵĞůĂŬƵŬĂŶ ƉĞŶŐƵŵƵŵĂŶ
ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵĂŶŐŬĂ ϴ͕ĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Ă͘ :ƵŵůĂŚ ƉĞŵďĞůŝĂŶ ŬĞŵďĂůŝ KďůŝŐĂƐŝ ƚŝĚĂŬ ůĞďŝŚ ĚĂƌŝ ϱй ;ůŝŵĂ ƉĞƌƐĞŶͿĚĂƌŝ ũƵŵůĂŚ KďůŝŐĂƐŝ ƵŶƚƵŬ
ŵĂƐŝŶŐͲŵĂƐŝŶŐ ũĞŶŝƐ KďůŝŐĂƐŝ LJĂŶŐ ďĞƌĞĚĂƌ ĚĂůĂŵ ƉĞƌŝŽĚĞ ϭ ;ƐĂƚƵͿ ƚĂŚƵŶ ƐĞƚĞůĂŚ dĂŶŐŐĂů
WĞŶũĂƚĂŚĂŶ͖
ď͘ KďůŝŐĂƐŝLJĂŶŐĚŝďĞůŝŬĞŵďĂůŝƚĞƌƐĞďƵƚďƵŬĂŶKďůŝŐĂƐŝLJĂŶŐĚŝŵŝůŝŬŝŽůĞŚĨŝůŝĂƐŝWĞƌƐĞƌŽĂŶ͖ĚĂŶ
Đ͘ KďůŝŐĂƐŝ LJĂŶŐ ĚŝďĞůŝ ŬĞŵďĂůŝ ƚĞƌƐĞďƵƚ ŚĂŶLJĂ ƵŶƚƵŬ ĚŝƐŝŵƉĂŶ LJĂŶŐ ŬĞŵƵĚŝĂŶ ŚĂƌŝ ĚĂƉĂƚ ĚŝũƵĂů
<ĞŵďĂůŝ͘
ĚĂŶǁĂũŝďĚŝůĂƉŽƌŬĂŶŬĞƉĂĚĂK:<ƉĂůŝŶŐůĂŵďĂƚĂŬŚŝƌ,Ăƌŝ<ĞƌũĂŬĞ ͲϮ;ĚƵĂͿƐĞƚĞůĂŚƚĞƌũĂĚŝŶLJĂƉĞŵďĞůŝĂŶ
ŬĞŵďĂůŝKďůŝŐĂƐŝ͖
ϭϯ͘ WĞƌƐĞƌŽĂŶǁĂũŝď ŵĞůĂƉŽƌŬĂŶ ŝŶĨŽƌŵĂƐŝ ƚĞƌŬĂŝƚ ƉĞůĂŬƐĂŶĂĂŶ ƉĞŵďĞůŝĂŶ ŬĞŵďĂůŝ ŬĞƉĂĚĂK:< ĚĂŶtĂůŝ
ŵĂŶĂƚ͕ ƐĞƌƚĂ ŵĞŶŐƵŵƵŵŬĂŶ ŬĞƉĂĚĂ ƉƵďůŝŬ ĚĂůĂŵ ǁĂŬƚƵ ƉĂůŝŶŐ ůĂŵďĂƚ Ϯ ;ĚƵĂͿ ,Ăƌŝ <ĞƌũĂƐĞƚĞůĂŚ
ĚŝůĂŬƵŬĂŶŶLJĂ ƉĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝ͘
ϭϰ͘ WĞŵďĞůŝĂŶŬĞŵďĂůŝŽďůŝŐĂƐŝ ĚŝůĂŬƵŬĂŶ ĚĞŶŐĂŶŵĞŶĚĂŚƵůƵŬĂŶ ŽďůŝŐĂƐŝLJĂŶŐ ƚŝĚĂŬĚŝũĂŵŝŶ ũŝŬĂ ƚĞƌĚĂƉĂƚ
ůĞďŝŚĚĂƌŝƐĂƚƵŽďůŝŐĂƐŝLJĂŶŐĚŝƚĞƌďŝƚŬĂŶWĞƌƐĞƌŽĂŶ͘
ϭϱ͘ WĞŵďĞůŝĂŶ ŬĞŵďĂůŝ ǁĂũŝď ĚŝůĂŬƵŬĂŶ ĚĞŶŐĂŶ ŵĞŵƉĞƌƚŝŵďĂŶŐŬĂŶ ĂƐƉĞŬ ŬĞƉĞŶƚŝŶŐĂŶ ĞŬŽŶŽŵŝƐ
WĞƌƐĞƌŽĂŶĂƚĂƐ ƉĞŵďĞůŝĂŶŬĞŵďĂůŝƚĞƌƐĞďƵƚ͕ũŝŬĂƚĞƌĚĂƉĂƚůĞďŝŚĚĂƌŝƐĂƚƵKďůŝŐĂƐŝLJĂŶŐƚŝĚĂŬĚŝũĂŵŝŶ͘
ϭϲ͘ WĞŵďĞůŝĂŶŬĞŵďĂůŝǁĂũŝď ŵĞŵƉĞƌƚŝŵďĂŶŐŬĂŶ ĂƐƉĞŬŬĞƉĞŶƚŝŶŐĂŶĞŬŽŶŽŵŝƐWĞƌƐĞƌŽĂŶĂƚĂƐƉĞŵďĞůŝĂŶ
KďůŝŐĂƐŝƚĞƌƐĞďƵƚ͕ũŝŬĂƚĞƌĚĂƉĂƚũĂŵŝŶĂŶ ĂƚĂƐƐĞůƵƌƵŚKďůŝŐĂƐŝ͘
ϭϳ͘ WĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝŽůĞŚWĞƌƐĞƌŽĂŶŵĞŶŐĂŬŝďĂƚŬĂŶ͗
Ă͘ ,ĂƉƵƐŶLJĂ ƐĞŐĂůĂ ŚĂŬ LJĂŶŐ ŵĞůĞŬĂƚ ƉĂĚĂKďůŝŐĂƐŝ LJĂŶŐ ĚŝďĞůŝŬĞŵďĂůŝ͕ ŚĂŬ ŵĞŶŐŚĂĚŝƌŝZhWK͕ ŚĂŬ
ƐƵĂƌĂ͕ĚĂŶŚĂŬŵĞŵƉĞƌŽůĞŚƵŶŐĂKďůŝŐĂƐŝƐĞƌƚĂŵĂŶĨĂĂƚ ůĂŝŶĚĂƌŝKďůŝŐĂƐŝLJĂŶŐĚŝďĞůŝŬĞŵďĂůŝũŝŬĂ
ĚŝŵĂŬƐƵĚŬĂŶ ƵŶƚƵŬƉĞůƵŶĂƐĂŶ͖ĂƚĂƵ
ď͘ WĞŵďĞƌŚĞŶƚŝĂŶƐĞŵĞŶƚĂƌĂƐĞŐĂůĂŚĂŬLJĂŶŐŵĞůĞŬĂƚƉĂĚĂKďůŝŐĂƐŝLJĂŶŐĚŝďĞůŝŬĞŵďĂůŝ͕ŵĞůŝƉƵƚŝŚĂŬ
ŵĞŶŐŚĂĚŝƌŝZhWK͕ŚĂŬƐƵĂƌĂ͕ ĚĂŶŚĂŬŵĞŵƉĞƌŽůĞŚƵŶŐĂ KďůŝŐĂƐŝƐĞƌƚĂŵĂŶĨĂĂƚ ůĂŝŶĚĂƌŝKďůŝŐĂƐŝ
LJĂŶŐĚŝďĞůŝŬĞŵďĂůŝũŝŬĂĚŝŵĂŬƐƵĚŬĂŶ ƵŶƚƵŬĚŝƐŝŵƉĂŶƵŶƚƵŬĚŝũƵĂůŬĞŵďĂůŝ͘
ϴ͘Ϯ <ĞƚĞŶƚƵĂŶ ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ƉĂĚĂ ƉŽŝŶ ϴ͘ϭ ĂŶŐŬĂ ϱ Ěŝ ĂƚĂƐ ĚŝŬĞĐƵĂůŝŬĂŶ ũŝŬĂ ƚĞůĂŚ ŵĞŵƉĞƌŽůĞŚ
ƉĞƌƐĞƚƵũƵĂŶZhWK͖
ϴ͘ϯ <ĞƚĞŶƚƵĂŶ ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ƉĂĚĂ ƉŽŝŶ ϴ͘ϭĂŶŐŬĂ ϲĚŝ ĂƚĂƐ ĚŝŬĞĐƵĂůŝŬĂŶ ƉĂĚĂ ĨŝůŝĂƐŝ LJĂŶŐ ƚŝŵďƵů
ŬĂƌĞŶĂŬĞƉĞŵŝůŝŬĂŶĂƚĂƵƉĞŶLJĞƌƚĂĂŶŵŽĚĂů ŽůĞŚWĞŵĞƌŝŶƚĂŚZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ͖
ϴ͘ϰ WĞŶŐƵŵƵŵĂŶ ƌĞŶĐĂŶĂƉĞŵďĞůŝĂŶ ŬĞŵďĂůŝ KďůŝŐĂƐŝ ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ƉĂĚĂ ƉŽŝŶ ϴ͘ϭ ĂŶŐŬĂ ϳ ĚĂŶ
ĂŶŐŬĂ ϴ ĚŝĂƚĂƐ ǁĂũŝď ĚŝůĂŬƵŬĂŶ ƉĂůŝŶŐ ůĂŵďĂƚ Ϯ ;ĚƵĂͿ,Ăƌŝ <ĂůĞŶĚĞƌƐĞďĞůƵŵƚĂŶŐŐĂů ƉĞŶĂǁĂƌĂŶ ƵŶƚƵŬ
ƉĞŵďĞůŝĂŶŬĞŵďĂůŝĚŝŵƵůĂŝ͕ ĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭ͘ ĂŐŝ ŵŝƚĞŶLJĂŶŐƐĂŚĂŵŶLJĂ ƚĞƌĐĂƚĂƚƉĂĚĂƵƌƐĂ ĨĞŬƉĂůŝŶŐƐĞĚŝŬŝƚŵĞůĂůƵŝ͗
;ŝͿ ƐŝƚƵƐ ǁĞď ŵŝƚĞŶ ĚĂůĂŵ ĂŚĂƐĂ /ŶĚŽŶĞƐŝĂ ĚĂŶďĂŚĂƐĂ ĂƐŝŶŐ LJĂŶŐĚŝŐƵŶĂŬĂŶ ƉĂůŝŶŐ ƐĞĚŝŬŝƚĂŚĂƐĂ
/ŶŐŐƌŝƐ͖ĚĂŶ
;ŝŝͿ ƐŝƚƵƐ ǁĞď ƵƌƐĂ ĨĞŬ ĂƚĂƵ ϭ ;ƐĂƚƵͿ ƐƵƌĂƚ ŬĂďĂƌ ŚĂƌŝĂŶ ďĞƌďĂŚĂƐĂ /ŶĚŽŶĞƐŝĂ LJĂŶŐ ďĞƌƉĞƌĞĚĂƌĂŶ
ŶĂƐŝŽŶĂů͘
Ϯ͘ ďĂŐŝ ŵŝƚĞŶLJĂŶŐƐĂŚĂŵŶLJĂ ƚŝĚĂŬƚĞƌĐĂƚĂƚƉĂĚĂƵƌƐĂ ĨĞŬƉĂůŝŶŐƐĞĚŝŬŝƚŵĞůĂůƵŝ͗
;ŝͿ ƐŝƚƵƐǁĞď ŵŝƚĞŶĚĂůĂŵďĂŚĂƐĂ ĂƐŝŶŐĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶďĂŚĂƐĂ ĂƐŝŶŐLJĂŶŐĚŝŐƵŶĂŬĂŶƉĂůŝŶŐƐĞĚŝŬŝƚ
ďĂŚĂƐĂ/ŶŐŐƌŝƐ͖ĚĂŶ
;ŝŝͿ ϭ;ƐĂƚƵͿƐƵƌĂƚŬĂďĂƌŚĂƌŝĂŶďĞƌďĂŚĂƐĂ/ŶĚŽŶĞƐŝĂLJĂŶŐďĞƌƉĞƌĞĚĂƌĂŶŶĂƐŝŽŶĂů͘
ϴ͘ϱ /ŶĨŽƌŵĂƐŝ LJĂŶŐ ǁĂũŝď ĚŝůĂƉŽƌŬĂŶ ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ƉĂĚĂ ƉŽŝŶϴ͘ϭĂŶŐŬĂ ϭϯĚŝ ĂƚĂƐ͕ ŵĞůŝƉƵƚŝ ĂŶƚĂƌ Ă
ůĂŝŶ͗
ϭ͘ ũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐƚĞůĂŚĚŝďĞůŝ͖
Ϯ͘ ƌŝŶĐŝĂŶũƵŵůĂŚKďůŝŐĂƐŝLJĂŶŐƚĞůĂŚĚŝďĞůŝŬĞŵďĂůŝƵŶƚƵŬƉĞůƵŶĂƐĂŶĂƚĂƵ ĚŝƐŝŵƉĂŶƵŶƚƵŬĚŝũƵĂůŬĞŵďĂůŝ͖
ϯ͘ ŚĂƌŐĂƉĞŵďĞůŝĂŶŬĞŵďĂůŝLJĂŶŐƚĞůĂŚƚĞƌũĂĚŝ͖ĚĂŶ
ϰ͘ ũƵŵůĂŚĚĂŶĂLJĂŶŐĚŝŐƵŶĂŬĂŶƵŶƚƵŬƉĞŵďĞůŝĂŶŬĞŵďĂůŝKďůŝŐĂƐŝ͘
15
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ϵ͘ WZK^ hZ W D ^EE
WƌŽƐĞĚƵƌ WĞŵĞƐĂŶĂŶ KďůŝŐĂƐŝ ĚĂƉĂƚ ĚŝůŝŚĂƚ ƉĂĚĂ Ăď y WƌŽƐƉĞŬƚƵƐ ŝŶŝ ŵĞŶŐĞŶĂŝ WĞƌƐLJĂƌĂƚĂŶ WĞŵĞƐĂŶĂŶ
WĞŵďĞůŝĂŶKďůŝŐĂƐŝ͘
ϭϬ͘ ,<^ E/KZ/d^d^hdE'
WĞŵĞŐĂŶŐKďůŝŐĂƐŝƚŝĚĂŬŵĞŵƉƵŶLJĂŝ ŚĂŬƵŶƚƵŬĚŝĚĂŚƵůƵŬĂŶĚĂŶŚĂŬWĞŵĞŐĂŶŐKďůŝŐĂƐŝĂĚĂůĂŚƉĂƌŝƉĂƐƐƵƚĂŶƉĂ
ŚĂŬ ƉƌĞĨĞƌĞŶ ĚĞŶŐĂŶ ŚĂŬͲŚĂŬ ŬƌĞĚŝƚƵƌ ŵŝƚĞŶ ůĂŝŶŶLJĂ͕ ďĂŝŬ LJĂŶŐ ĂĚĂ ƐĞŬĂƌĂŶŐ ŵĂƵƉƵŶ LJĂŶŐ ĂŬĂŶ ĂĚĂ
ĚŝŬĞŵƵĚŝĂŶŚĂƌŝ͕ŬĞĐƵĂůŝŚĂŬͲŚĂŬŬƌĞĚŝƚƵƌ ŵŝƚĞŶLJĂŶŐĚŝũĂŵŝŶƐĞĐĂƌĂŬŚƵƐƵƐĚĞŶŐĂŶŬĞŬĂLJĂĂŶ ŵŝƚĞŶďĂŝŬLJĂŶŐ
ƚĞůĂŚĂĚĂŵĂƵƉƵŶLJĂŶŐĂŬĂŶĂĚĂ͕ƐĞďĂŐĂŝŵĂŶĂ ĚŝƚĞŶƚƵŬĂŶĚĂůĂŵ WĂƐĂůϭϮWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘ ŵŝƚĞŶ
ŵĞŵƉƵŶLJĂŝ ŚƵƚĂŶŐ ƐĞŶŝŽƌŝƚĂƐ ƐĞďĞƐĂƌ ZƉϰϴϭ͘ϬϮϰ͘Ϯϭϱ͘ϮϵϮ͕ ďĞƌĚĂƐĂƌŬĂŶ ůĂƉŽƌĂŶ ŬĞƵĂŶŐĂŶ ƉĞƌ ƚĂŶŐŐĂů
ϯϭĞƐĞŵďĞƌϮϬϮϰLJĂŶŐŵĞŵƉƵŶLJĂŝ ŚĂŬŬĞƵƚĂŵĂĂŶ ĂƚĂƵ ƉƌĞĨĞƌĞŶ͘ĂƚĂƐĂŶ ĂƚĂƐ ƉĞŶĞƌďŝƚĂŶƚĂŵďĂŚĂŶ ƵƚĂŶŐ
ĚĞŶŐĂŶƐĞŶŝŽƌŝƚĂƐ;ŚĂŬŬĞƵƚĂŵĂĂŶ ĂƚĂƵ WƌĞĨĞƌĞŶͿĂĚĂůĂŚƚŝĚĂŬŵĞůĞďŝŚŝƌĂƐŝŽŬĞƵĂŶŐĂŶƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ
ĚĂůĂŵ WĂƐĂůϳWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘
ϭϭ͘ t>/DEd
WdĂŶŬDĞŐĂdďŬƚĞůĂŚĚŝƚƵŶũƵŬ ƐĞďĂŐĂŝtĂůŝŵĂŶĂƚ ĚĂůĂŵ ƉĞŶĞƌďŝƚĂŶKďůŝŐĂƐŝ ŝŶŝƐĞƐƵĂŝĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ
LJĂŶŐ ƚĞƌĐĂŶƚƵŵ ĚĂůĂŵ WĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ LJĂŶŐ ĚŝďƵĂƚ ĂŶƚĂƌĂ WĞƌƐĞƌŽĂŶĚĞŶŐĂŶWd ĂŶŬDĞŐĂ dďŬ͘
ůĂŵĂƚ tĂůŝŵĂŶĂƚ ĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
WdE<D ' dďŬ͘
DĞŶĂƌĂĂŶŬDĞŐĂ>ĂŶƚĂŝϭϲ
:ĂůĂŶ<ĂƉƚĞŶdĞŶĚĞĂŶEŽ͘ϭϮͲϭϰ
:ĂŬĂƌƚĂ ϭϮϳϵϬ
dĞůĞƉŽŶ͗;ϬϮϭͿϳϵϭϳϱϬϬϬ
&ĂŬƐŝŵŝůŝ͗;ϬϮϭͿϳϵϭϴϳϭϬϬ
ͲŵĂŝů͗ǁĂůŝĂŵĂŶĂƚΛďĂŶŬŵĞŐĂ͘ĐŽŵ
hƉ͗͘ĂƉŝƚĂůDĂƌŬĞƚ^ĞƌǀŝĐĞƐ
ϭϮ͘ W D Eh,E W ZdhZEW EtZE hDhD Z< >E:hdE
WĞƌƐĞƌŽĂŶĚĂƉĂƚ ŵĞůĂŬƐĂŶĂŬĂŶ WĞŶĂǁĂƌĂŶ hŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶ ĚĞŶŐĂŶ ŵĞŵĞŶƵŚŝ ŬĞƚĞŶƚƵĂŶ ƐĞďĂŐĂŝŵĂŶĂ
ĚŝĂƚƵƌĚĂůĂŵWK:<EŽ͘ϯϲͬϮϬϭϰƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭͿ WĞŶĂǁĂƌĂŶhŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶĚŝůĂŬƐĂŶĂŬĂŶ ĚĂůĂŵ ƉĞƌŝŽĚĞƉĂůŝŶŐůĂŵĂ Ϯ;ĚƵĂͿƚĂŚƵŶ ĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶ
ƉĞŵďĞƌŝƚĂŚƵĂŶ ƉĞůĂŬƐĂŶĂĂŶ WĞŶĂǁĂƌĂŶ hŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶ ƚĞƌĂŬŚŝƌĚŝƐĂŵƉĂŝŬĂŶ ŬĞƉĂĚĂ KƚŽƌŝƚĂƐ :ĂƐĂ
<ĞƵĂŶŐĂŶƉĂůŝŶŐůĂŵďĂƚ ƉĂĚĂƵůĂŶŐƚĂŚƵŶŬĞĚƵĂƐĞũĂŬĞĨĞŬƚŝĨŶLJĂWĞƌŶLJĂƚĂĂŶWĞŶĚĂĨƚĂƌĂŶ ͘
ϮͿ dĞůĂŚŵĞŶũĂĚŝ ŵŝƚĞŶ ĂƚĂƵ WĞƌƵƐĂŚĂĂŶWƵďůŝŬĚĂůĂŵ ŬƵƌƵŶǁĂŬƚƵ ƉĂůŝŶŐƐŝŶŐŬĂƚ Ϯ;ĚƵĂͿ ƚĂŚƵŶ͘ WĞƌƐĞƌŽĂŶ
ƚĞůĂŚŵĞŶũĂĚŝĞŵŝƚĞŶƐĞũĂŬ KďůŝŐĂƐŝ/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ/dĂŚƵŶϮϬϬϰĚĞŶŐĂŶdŝŶŐŬĂƚ ƵŶŐĂdĞƚĂƉ
;KďůŝŐĂƐŝ /Ϳ ƐĞƐƵĂŝ ĚĞŶŐĂŶ^ƵƌĂƚ WĞƌŶLJĂƚĂĂŶ WĞŶĚĂĨƚĂƌĂŶ ĨĞŬƚŝĨ EŽ͘ ^ͲϯϭϯϱͬWDͬϮϬϬϰƚĂŶŐŐĂů ϴKŬƚŽďĞƌ
ϮϬϬϰ͘
ϯͿ dŝĚĂŬƉĞƌŶĂŚŵĞŶŐĂůĂŵŝ ŐĂŐĂůďĂLJĂƌƐĞůĂŵĂϮ;ĚƵĂͿƚĂŚƵŶƚĞƌĂŬŚŝƌƐĞďĞůƵŵƉĞŶLJĂŵƉĂŝĂŶ WƌŽƐƉĞŬƚƵƐĚĂůĂŵ
ƌĂŶŐŬĂ WĞŶĂǁĂƌĂŶ hŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ƐƵƌĂƚ ŬĞƚĞƌĂŶŐĂŶ ĚĂƌŝ <ĂŶƚŽƌ ŬƵŶƚĂŶ WƵďůŝŬ
WƵƌǁĂŶƚŽŶŽ͕ ^ƵŶŐŬŽƌŽΘ^ƵƌũĂ ƚĞƌƚĂŶŐŐĂů ϭϰƉƌŝůϮϬϮϱĚĂŶ ^ƵƌĂƚWĞƌŶLJĂƚĂĂŶ dŝĚĂŬ WĞƌŶĂŚ'ĂŐĂů ĂLJĂƌ
LJĂŶŐĚŝďƵĂƚŽůĞŚWĞƌƐĞƌŽĂŶƚĞƌƚĂŶŐŐĂůϭϰƉƌŝůϮϬϮϱ͘
ϰͿ ĨĞŬ LJĂŶŐ ĚĂƉĂƚ ĚŝƚĞƌďŝƚŬĂŶ ŵĞůĂůƵŝ WĞŶĂǁĂƌĂŶ hŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶ ĂĚĂůĂŚ ĞĨĞŬ ďĞƌƐŝĨĂƚ ƵƚĂŶŐ LJĂŶŐ
ŵĞŵŝůŝŬŝ ƉĞƌŝŶŐŬĂƚ LJĂŶŐ ƚĞƌŵĂƐƵŬ ĚĂůĂŵ ŬĂƚĞŐŽƌŝ ϰ ;ĞŵƉĂƚͿ ƉĞƌŝŶŐŬĂƚ ƚĞƌĂƚĂƐ LJĂŶŐ ŵĞƌƵƉĂŬĂŶ ƵƌƵƚĂŶ ϰ
;ĞŵƉĂƚͿ ƉĞƌŝŶŐŬĂƚ ƚĞƌďĂŝŬ ĚĂŶ ŵĂƐƵŬ ĚĂůĂŵ ŬĂƚĞŐŽƌŝ ƉĞƌŝŶŐŬĂƚ ůĂLJĂŬ ŝŶǀĞƐƚĂƐŝ ďĞƌĚĂƐĂƌŬĂŶ ƐƚĂŶĚĂƌ LJĂŶŐ
ĚŝŵŝůŝŬŝ ŽůĞŚWĞƌƵƐĂŚĂĂŶ WĞŵĞƌŝŶŐŬĂƚ ĨĞŬ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ,ĂƐŝů WĞŵĞƌŝŶŐŬĂƚĂŶ ĚĂƌŝWd WĞŵĞƌŝŶŐŬĂƚ ĨĞŬ
/ŶĚŽŶĞƐŝĂĚĞŶŐĂŶƐƵƌĂƚEŽ͘ZͲϭϰϴͬW &Ͳ/Zͬ///ͬϮϬϮϱ ƚĞƌƚĂŶŐŐĂůϯDĂƌĞƚϮϬϮϱ͘
16
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//͘ Z EEW E''hEEE
^ĞůƵƌƵŚĚĂŶĂ LJĂŶŐ ĚŝƉĞƌŽůĞŚWĞƌƐĞƌŽĂŶĚĂƌŝŚĂƐŝů WĞŶĂǁĂƌĂŶ hŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶ KďŝůŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/
/ŶĚŽŵŽďŝů &ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉdĂŚĂƉ /dĂŚƵŶϮϬϮϱ͕ƐĞƚĞůĂŚĚŝŬƵƌĂŶŐŝďŝĂLJĂͲďŝĂLJĂ ĞŵŝƐŝ͕ĂŬĂŶ
ĚŝƉĞƌŐƵŶĂŬĂŶ ƐĞůƵƌƵŚŶLJĂŽůĞŚWĞƌƐĞƌŽĂŶƵŶƚƵŬ ŵŽĚĂů ŬĞƌũĂƉĞŵďŝĂLJĂĂŶ ŬĞŶĚĂƌĂĂŶ ďĞƌŵŽƚŽƌĚĂŶĂůĂƚ ďĞƌĂƚ
ƐĞďĂŐĂŝŵĂŶĂ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂWĞƌƐĞƌŽĂŶ͘
WĞƌƐĞƌŽĂŶĂŬĂŶ ŵĞůĂƉŽƌŬĂŶ ƌĞĂůŝƐĂƐŝ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ƐĞĐĂƌĂƉĞƌŝŽĚŝŬ͕ĚĞŶŐĂŶ ƉĞƌŝŽĚĞůĂƉŽƌĂŶ ϯϬ:ƵŶŝ ĚĂŶ
ϯϭĞƐĞŵďĞƌ͕ ŬĞƉĂĚĂ K:< ĚĂŶ tĂůŝ ŵĂŶĂƚ ƐĞƐƵĂŝ ĚĞŶŐĂŶ WĞƌĂƚƵƌĂŶ K:< EŽ͘ ϯϬͬϮϬϭϱ͘ƉĂďŝůĂ ĚĂŶĂ ŚĂƐŝů
WĞŶĂǁĂƌĂŶhŵƵŵĞƌŬĞůĂŶũƵƚĂŶKďůŝŐĂƐŝďĞůƵŵĚŝƉĞƌŐƵŶĂŬĂŶƐĞůƵƌƵŚŶLJĂ͕ŵĂŬĂ ƉĞŶĞŵƉĂƚĂŶƐĞŵĞŶƚĂƌĂĚĂŶĂ
ŚĂƐŝů WĞŶĂǁĂƌĂŶ hŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶ KďůŝŐĂƐŝ ƚĞƌƐĞďƵƚ ĂŬĂŶ ĚŝůĂŬƵŬĂŶ WĞƌƐĞƌŽĂŶ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ
ŬĞĂŵĂŶĂŶ ĚĂŶůŝŬƵŝĚŝƚĂƐƐĞƌƚĂĚĂƉĂƚŵĞŵďĞƌŝŬĂŶŬĞƵŶƚƵŶŐĂŶĨŝŶĂŶƐŝĂůLJĂŶŐǁĂũĂƌďĂŐŝWĞƌƐĞƌŽĂŶ͘
ƉĂďŝůĂ WĞƌƐĞƌŽĂŶďĞƌŵĂŬƐƵĚ ŵĞŶŐƵďĂŚ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů ƉĞŶĂǁĂƌĂŶ ƵŵƵŵ KďůŝŐĂƐŝ ŝŶŝ ƐĞďĂŐĂŝŵĂŶĂ
ĚŝŵĂŬƐƵĚĚŝĂƚĂƐ͕ ŵĂŬĂWĞƌƐĞƌŽĂŶƚĞƌůĞďŝŚĚĂŚƵůƵĂŬĂŶŵĞůĂƉŽƌŬĂŶŬĞƉĂĚĂK:<ĚĞŶŐĂŶŵĞŶŐĞŵƵŬĂŬĂŶ ĂůĂƐĂŶ
ďĞƐĞƌƚĂƉĞƌƚŝŵďĂŶŐĂŶ ĚĂŶƉĞƌƵďĂŚĂŶƉĞŶŐŐƵŶĂĂŶĚĂŶĂƚĞƌƐĞďƵƚĚĂŶŚĂƌƵƐŵĞŵƉĞƌŽůĞŚZhWK͘
^ĞƐƵĂŝĚĞŶŐĂŶWĞƌĂƚƵƌĂŶK:<EŽ͘ϵͬϮϬϭϳ͕ƚŽƚĂůďŝĂLJĂLJĂŶŐĚŝŬĞůƵĂƌŬĂŶŽůĞŚWĞƌƐĞƌŽĂŶĂĚĂůĂŚŬ ƵƌĂŶŐůĞďŝŚƐĞƚĂƌĂ
ĚĞŶŐĂŶƐĞŬŝƚĂƌϬ͕ϰϵϵйĚĂƌŝŶŝůĂŝĞŵŝƐŝKďůŝŐĂƐŝLJĂŶŐŵĞůŝƉƵƚŝ͗
ϭ͘ ŝĂLJĂũĂƐĂƉĞŶLJĞůĞŶŐŐĂƌĂĂŶ ;ŵĂŶĂŐĞŵĞŶƚĨĞĞͿƐĞŬŝƚĂƌϬ͕ϭϱϬй͕
Ϯ͘ ŝĂLJĂũĂƐĂƉĞŶũĂŵŝŶĂŶ ;ƵŶĚĞƌǁƌŝƚŝŶŐ ĨĞĞͿƐĞŬŝƚĂƌϬ͕ϬϮϱй
ϯ͘ ŝĂLJĂũĂƐĂƉĞŶũƵĂůĂŶ ;ƐĞůůŝŶŐĨĞĞͿƐĞŬŝƚĂƌϬ͕ϬϮϱй
ϰ͘ ŝĂLJĂũĂƐĂƵŶƚƵŬWƌŽĨĞƐŝWĞŶƵŶũĂŶŐWĂƐĂƌDŽĚĂůƐĞŬŝƚĂƌϬ͕ϭϰϮй͕LJĂŶŐƚĞƌĚŝƌŝĚĂƌŝ͗
ŝĂLJĂũĂƐĂŬƵŶƚĂŶWƵďůŝŬϬ͕ϭϭϬй
ŝĂLJĂũĂƐĂ<ŽŶƐƵůƚĂŶ,ƵŬƵŵ ƐĞŬŝƚĂƌϬ͕ϬϮϳй͕ĚĂŶ
ŝĂLJĂũĂƐĂEŽƚĂƌŝƐ ƐĞŬŝƚĂƌϬ͕ϬϬϱй
ϱ͘ ŝĂLJĂũĂƐĂƵŶƚƵŬ>ĞŵďĂŐĂWĞŶƵŶũĂŶŐWĂƐĂƌDŽĚĂůƐĞŬŝƚĂƌϬ͕Ϭϰϱй͕LJĂŶŐƚĞƌĚŝƌŝĚĂƌŝ
ŝĂLJĂũĂƐĂtĂůŝŵĂŶĂƚƐĞŬŝƚĂƌϬ͕ϬϬϳй͕ĚĂŶ
ŝĂLJĂWĞƌƵƐĂŚĂĂŶWĞŵĞƌŝŶŐŬĂƚ ĨĞŬƐĞŬŝƚĂƌϬ͕Ϭϯϴй
ϲ͘ ŝĂLJĂWĞŶĚĂĨƚĂƌĂŶK:<͕<^ /͕ /͕ƵĚŝƚWĞŶũĂƚĂŚĂŶ ΘůĂŝŶͲůĂŝŶƐĞŬŝƚĂƌϬ͕ϭϭϮй
17
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PT INDOMOBIL FINANCE INDONESIA
///͘ W ZEzdEhdE'
WĞƌŶLJĂƚĂĂŶƵƚĂŶŐďĞƌŝŬƵƚďĞƌĂƐĂůĚĂƌŝůĂƉŽƌĂŶŬĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕LJĂŶŐƚĞƌĐĂŶƚƵŵ
ĚĂůĂŵ WƌŽƐƉĞŬƚƵƐ ŝŶŝ͕ ƚĞůĂŚ ĚŝĂƵĚŝƚ ŽůĞŚ <ĂŶƚŽƌ ŬƵŶƚĂŶ WƵďůŝŬ ;“KAP”Ϳ WƵƌǁĂŶƚŽŶŽ͕ ^ƵŶŐŬŽƌŽ Θ ^ƵƌũĂ
ďĞƌĚĂƐĂƌŬĂŶ^ƚĂŶĚĂƌƵĚŝƚLJĂŶŐĚŝƚĞƚĂƉŬĂŶŽůĞŚ/ŶƐƚŝƚƵƚŬƵŶƚĂŶWƵďůŝŬ/ŶĚŽŶĞƐŝĂ;“IAPI”ͿĚĞŶŐĂŶŽƉŝŶŝƚĂŶƉĂ
ŵŽĚŝĨŝŬĂƐŝĂŶLJĂŶŐĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚ^ĂŶĚLJƚĂŶŐŐĂůϭϱDĞŝϮϬϮϱ͘
ĞƌĚĂƐĂƌŬĂŶ >ĂƉŽƌĂŶ <ĞƵĂŶŐĂŶ ƵŶƚƵŬ ƉĞƌŝŽĚĞ LJĂŶŐ ďĞƌĂŬŚŝƌ ƉĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ WĞƌƐĞƌŽĂŶ
ŵĞŵƉƵŶLJĂŝůŝĂďŝůŝƚĂƐLJĂŶŐŬĞƐĞůƵƌƵŚĂŶŶLJĂďĞƌũƵŵůĂŚZƉϭϯ͘ϵϳϵ͘ϯϬϮũƵƚĂ͕ĚĞŶŐĂŶƌŝŶĐŝĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
<ĞƚĞƌĂŶŐĂŶ dKd>
>//>/d^
hƚĂŶŐďĂŶŬͲEĞƚŽƉŝŚĂŬŬĞƚŝŐĂ ϵ͘ϮϬϳ͘Ϯϳϱ
ĞďĂŶĂŬƌƵĂů ϭϬϴ͘ϯϲϳ
hƚĂŶŐƉĂũĂŬ ϲ͘ϱϲϴ
hƚĂŶŐůĂŝŶͲůĂŝŶ
WŝŚĂŬŬĞƚŝŐĂ Ϯϭϭ͘ϰϲϬ
WŝŚĂŬďĞƌĞůĂƐŝ ϱ͘ϳϲϮ
dŽƚĂůƵƚĂŶŐůĂŝŶͲůĂŝŶ Ϯϭϳ͘ϮϮϮ
>ŝĂďŝůŝƚĂƐŝŵďĂůĂŶŬĞƌũĂŬĂƌLJĂǁĂŶ ϮϮ͘ϰϵϬ
hƚĂŶŐŽďůŝŐĂƐŝͲEĞƚŽ ϰ͘ϯϴϲ͘ϲϭϬ
hƚĂŶŐĚĞƌŝǀĂƚŝĨ ϯϬ͘ϳϳϬ
dKd>>//>/d^ ϭϯ͘ϵϳϵ͘ϯϬϮ
ϭ͘ hƚĂŶŐĂŶŬ–ƉŝŚĂŬŬĞƚŝŐĂ
^ĂůĚŽƵƚĂŶŐďĂŶŬŶĞƚŽƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌZƉϵ͘ϮϬϳ͘ϮϳϱũƵƚĂ͕ĚĞŶŐĂŶƌŝŶĐŝĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
<ĞƚĞƌĂŶŐĂŶ dKd>
<ƌĞĚŝƚĞƌũĂŶŐŬĂ
ZƵƉŝĂŚ
WdĂŶŬ:ĂŐŽdďŬ;:ĂŐŽͿ ϭ͘Ϭϵϲ͘ϴϯϯ
WdĂŶŬWĂŶ/ŶĚŽŶĞƐŝĂdďŬ;WĂŶŝŶͿ ϱϮϳ͘ϳϳϴ
WdĂŶŬKŬĞ/ŶĚŽŶĞƐŝĂdďŬ;K<Ϳ ϰϬϬ͘ϬϬϬ
WdĂŶŬ/</ŶĚŽŶĞƐŝĂdďŬ;/<Ϳ ϵϴ͘ϳϵϳ
WdĂŶŬ:ƚƌƵƐƚ/ŶĚŽŶĞƐŝĂdďŬ;:ƚƌƵƐƚͿ ϳϳ͘Ϭϲϰ
WdĂŶŬWĞƌŵĂƚĂdďŬ;WĞƌŵĂƚĂͿ ϱϮ͘Ϭϴϯ
WdĂŶŬdWE^LJĂƌŝĂŚ;dWE^LJĂƌŝĂŚͿ ϯϰ͘ϱϱϭ
WdĂŶŬDƵĂŵĂůĂƚdďŬ;DƵĂŵĂůĂƚͿ ϭϳ͘ϲϳϰ
Dh&'ĂŶŬ͕>ƚĚ͘;Dh&'Ϳ ϭϮ͘ϱϬϬ
WdĂŶŬ< ,ĂŶĂ/ŶĚŽŶĞƐŝĂ;,ĂŶĂͿ ϭϭ͘ϭϭϭ
ŽůĂƌ^
<ƌĞĚŝƚ^ŝŶĚŝŬĂƐŝĞƌũĂŶŐŬĂy/// Ϯ͘ϱϲϱ͘ϳϭϳ
;^Ψϭϱϴ͘ϳϱϬ͘ϬϬϬƉĂĚĂƚĂŚƵŶϮϬϮϰͿ
<ƌĞĚŝƚ^ŝŶĚŝŬĂƐŝĞƌũĂŶŐŬĂy// Ϯ͘ϱϮϯ͘ϵϲϱ
;^Ψϭϱϲ͘ϭϲϲ͘ϲϲϳƉĂĚĂƚĂŚƵŶϮϬϮϰĚĂŶ^ΨϮϲϱ͘ϭϲϲ͘ϲϲϲƉĂĚĂƚĂŚƵŶϮϬϮϯͿ
<ƌĞĚŝƚ^ŝŶĚŝŬĂƐŝĞƌũĂŶŐŬĂy/ ϭϬϳ͘ϳϰϳ
;^Ψϲ͘ϲϲϲ͘ϲϲϳƉĂĚĂƚĂŚƵŶϮϬϮϰĚĂŶ^Ψϳϳ͘ϱϬϬ͘ϬϬϬƉĂĚĂƚĂŚƵŶϮϬϮϯͿ
Dh&'ĂŶŬ͕>ƚĚ͘ ϳϴ͘ϰϭϮ
;^Ψϰ͘ϴϱϭ͘ϲϭϭƉĂĚĂƚĂŚƵŶϮϬϮϰĚĂŶ^ΨϭϬ͘ϭϰϰ͘ϮϳϴƉĂĚĂƚĂŚƵŶϮϬϮϯͿ
^ƵďͲƚŽƚĂů ϳ͘ϲϬϰ͘ϮϯϮ
<ƌĞĚŝƚDŽĚĂů<ĞƌũĂ
ZƵƉŝĂŚ
WdĂŶŬDĂŶĚŝƌŝ;WĞƌƐĞƌŽͿdďŬ;DĂŶĚŝƌŝͿ ϰϬϬ͘ϬϬϬ
Dh&'ĂŶŬ͕>ƚĚ;Dh&'Ϳ ϰϬϬ͘ϬϬϬ
WdĂŶŬ/DEŝĂŐĂdďŬ;/DEŝĂŐĂͿ ϯϱϬ͘ϬϬϬ
18
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<ĞƚĞƌĂŶŐĂŶ dKd>
WdĂŶŬDŝnjƵŚŽ/ŶĚŽŶĞƐŝĂ;DŝnjƵŚŽͿ ϮϬϬ͘ϬϬϬ
WdĂŶŬ,ŝďĂŶŬ/ŶĚŽŶĞƐŝĂ;,ŝĂŶŬͿ ϮϬϬ͘ϬϬϬ
WdĂŶŬŝŐŝƚĂů;ŝŐŝƚĂůͿ ϭϬϬ͘ϬϬϬ
WdĂŶŬsŝĐƚŽƌŝĂ/ŶƚĞƌŶĂƚŝŽŶĂůdďŬ;sŝĐƚŽƌŝĂͿ ϮϬ͘ϬϬϬ
^ƵďͲƚŽƚĂů ϭ͘ϲϳϬ͘ϬϬϬ
dŽƚĂů ϵ͘Ϯϳϰ͘ϮϯϮ
ŝŬƵƌĂŶŐŝďŝĂLJĂƚƌĂŶƐĂŬƐŝLJĂŶŐďĞůƵŵĚŝĂŵŽƌƚŝƐĂƐŝ ;ϲϲ͘ϵϱϳͿ
EĞƚŽ ϵ͘ϮϬϳ͘Ϯϳϱ
<ƌĞĚŝƚĞƌũĂŶŐŬĂ
ĞƌŝŬƵƚŝŶŝĂĚĂůĂŚƚĂďĞůƌŝŶĐŝĂŶĚĂƌŝĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶŬƌĞĚŝƚďĞƌũĂŶŐŬĂLJĂŶŐĚŝƚĞƌŝŵĂĚĂůĂŵZƵƉŝĂŚ͗
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ĂƚĂƐDĂŬƐŝŵƵŵ WĞƌŝŽĚĞ
EĂŵĂĂŶŬ &ĂƐŝůŝƚĂƐ ŝĐŝůĂŶWŽŬŽŬ
<ƌĞĚŝƚ ǁĂů ŬŚŝƌ
^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/// ϱϬϬ͘ϬϬϬ ϮϲDĂƌĞƚϮϬϮϭ ϭϬDĞŝϮϬϮϰ
ƐĞŬĂůŝ
ϭϲĞƐĞŵďĞƌ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/s ϱϬϬ͘ϬϬϬ ϯϬŐƵƐƚƵƐϮϬϮϮ
WdĂŶŬWĂŶ/ŶĚŽŶĞƐŝĂ ϮϬϮϱ ƐĞŬĂůŝ
dďŬ;WĂŶŝŶͿ ϭϰĞƐĞŵďĞƌ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
s ϱϬϬ͘ϬϬϬ ϮƉƌŝůϮϬϮϳ
ϮϬϮϯ ƐĞŬĂůŝ
ϱEŽǀĞŵďĞƌ ϱEŽǀĞŵďĞƌ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
s/ ϱϬϬ͘ϬϬϬ
ϮϬϮϰ ϮϬϮϵ ƐĞŬĂůŝ
^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
WdĂŶŬWĞƌŵĂƚĂdďŬ /// ϮϱϬ͘ϬϬϬΎ ϯϬ:ƵůŝϮϬϮϭ ϭϵKŬƚŽďĞƌϮϬϮϱ
ƐĞŬĂůŝ
WdĂŶŬĞŶƚƌĂůƐŝĂ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/s ϮϬϬ͘ϬϬϬ ϮϲDĂƌĞƚϮϬϮϭ ϮϵDĂƌĞƚϮϬϮϰ
dďŬ;Ϳ ƐĞŬĂůŝ
ϭϵ^ĞƉƚĞŵďĞƌ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/ ϮϬ͘ϬϬϬΎ ϵ:ĂŶƵĂƌŝϮϬϮϱ
ϮϬϬϳ ƐĞŬĂůŝ
WdĂŶŬĂŶĂŵŽŶ
ϮϵĞƐĞŵďĞƌ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/ŶĚŽŶĞƐŝĂdďŬ // ϱϬ͘ϬϬϬΎ ϯϬDĂƌĞƚϮϬϮϮ
ϮϬϮϯ ƐĞŬĂůŝ
;ĂŶĂŵŽŶͿ
ϮϵĞƐĞŵďĞƌ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/// ϮϱϬ͘ϬϬϬΎ ϯϬDĂƌĞƚϮϬϮϮ
ϮϬϮϯ ƐĞŬĂůŝ
ϮϵĞƐĞŵďĞƌ ϯϬ^ĞƉƚĞŵďĞƌ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/ ϱϬ͘ϬϬϬΎ
ϮϬϮϯ ϮϬϮϱ ƐĞŬĂůŝ
Dh&'ĂŶŬ͕>ƚĚ
ϮϵĞƐĞŵďĞƌ ϮϴEŽǀĞŵďĞƌ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
// ϮϱϬ͘ϬϬϬΎ
ϮϬϮϯ ϮϬϮϱ ƐĞŬĂůŝ
WdĂŶŬ< ,ĂŶĂ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/ ϮϬϬ͘ϬϬϬ ϯ&ĞďƌƵĂƌŝϮϬϮϮ Ϯϯ&ĞďƌƵĂƌŝϮϬϮϱ
/ŶĚŽŶĞƐŝĂ;,ĂŶĂͿ ƐĞŬĂůŝ
WdĂŶŬ:ƚƌƵƐƚ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/ ϮϬϬ͘ϬϬϬ ϮϴDĂƌĞƚϮϬϮϮ ϮϱDĞŝϮϬϮϲ
/ŶĚŽŶĞƐŝĂdďŬ;:ƚƌƵƐƚͿ ƐĞŬĂůŝ
WĞŵďĂLJĂƌĂŶƉĞŶƵŚ
/ ϮϬϬ͘ϬϬϬ Ϯϴ:ƵŶŝϮϬϮϮ ϮϮ:ƵůŝϮϬϮϱ ƉĂĚĂƐĂĂƚũĂƚƵŚ
WdĂŶŬKŬĞ/ŶĚŽŶĞƐŝĂ ƚĞŵƉŽ
dďŬ;K<Ϳ WĞŵďĂLJĂƌĂŶƉĞŶƵŚ
// ϮϬϬ͘ϬϬϬ Ϯϳ:ƵŶŝϮϬϮϯ Ϯϳ:ƵŶŝϮϬϮϲ ƉĂĚĂƐĂĂƚũĂƚƵŚ
ƚĞŵƉŽ
WdĂŶŬDƵĂŵĂůĂƚdďŬ ϮϮĞƐĞŵďĞƌ ϮϯĞƐĞŵďĞƌ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/ ϱϬ͘ϬϬϬ
;DƵĂŵĂůĂƚͿ ϮϬϮϮ ϮϬϮϱ ƐĞŬĂůŝ
WdĂŶŬ:ĂŐŽdďŬ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/ ϭ͘ϮϬϬ͘ϬϬϬ ϭϱ:ƵŶŝϮϬϮϯ ϭϵ:ƵůŝϮϬϯϬ
;:ĂŐŽͿ ƐĞŬĂůŝ
^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
WdĂŶŬ/<dďŬ;/<Ϳ / ϭϱϬ͘ϬϬϬ ϭϲ:ƵŶŝϮϬϮϯ Ϯϲ:ƵŶŝϮϬϮϳ
ƐĞŬĂůŝ
WdĂŶŬ^D
WĞŵďĂLJĂƌĂŶƉĞŶƵŚ
/ŶĚŽŶĞƐŝĂdďŬ;^DͿ ϯϬ^ĞƉƚĞŵďĞƌ
/ ϱϬ͘ϬϬϬ ϭϳDĞŝϮϬϮϯ ƉĂĚĂƐĂĂƚũĂƚƵŚ
;^ĞďĞůƵŵŶLJĂWdĂŶŬ ϮϬϮϰ
ƚĞŵƉŽ
dWEdďŬͿ
WdĂŶŬDĂLJďĂŶŬ
ϭEŽǀĞŵďĞƌ ϭEŽǀĞŵďĞƌ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/ŶĚŽŶĞƐŝĂdďŬ / ϯϬϬ͘ϬϬϬΎ
ϮϬϮϰ ϮϬϮϵ ƐĞŬĂůŝ
;DĂLJďĂŶŬͿ
19
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PT INDOMOBIL FINANCE INDONESIA
ĂƚĂƐDĂŬƐŝŵƵŵ WĞƌŝŽĚĞ
EĂŵĂĂŶŬ &ĂƐŝůŝƚĂƐ ŝĐŝůĂŶWŽŬŽŬ
<ƌĞĚŝƚ ǁĂů ŬŚŝƌ
WdĂŶŬdWE^LJĂƌŝĂŚ ^ĞƚŝĂƉƐĂƚƵďƵůĂŶ
/ ϭϬϬ͘ϬϬϬΎΎ ϯϬDĞŝϮϬϮϰ ϯϬDĞŝϮϬϮϴ
dďŬ;dWE^LJĂƌŝĂŚͿ ƐĞŬĂůŝ
Ύ&ĂƐŝůŝƚĂƐĚĂƉĂƚĚŝŐƵŶĂŬĂŶĚĂůĂŵŵĂƚĂƵĂŶŐŽůůĂƌ͘^ĚĂŶͬĂƚĂƵZƵƉŝĂŚ
ΎΎ^ƵďůŝŵŝƚĚĞŶŐĂŶŬƌĞĚŝƚŵŽĚĂůŬĞƌũĂĚĞŶŐĂŶũƵŵůĂŚŵĂŬƐŝŵƵŵƐĞďĞƐĂƌZƉϱϬŵŝůŝĂƌ
WĞƌƐĞƌŽĂŶŵĞŵďĂLJĂƌƐƵŬƵďƵŶŐĂƚĂŚƵŶĂŶĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶĚĂůĂŵZƵƉŝĂŚƐĞďĞƐĂƌϲ͕ϬϬйͲϳ͕ϰϬйƵŶƚƵŬƐƵŬƵďƵŶŐĂƚĂŚƵŶĂŶ
ĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶĚĂůĂŵZƵƉŝĂŚƵŶƚƵŬϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶƚĂŚƵŶϮϬϮϯ
ĞƌŝŬƵƚŝŶŝĂĚĂůĂŚƚĂďĞůƌŝŶĐŝĂŶĚĂƌŝĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶŬƌĞĚŝƚďĞƌũĂŶŐŬĂLJĂŶŐĚŝƚĞƌŝŵĂĚĂůĂŵŽůĂƌ^͗
;ĚĂůĂŵũƵƚĂĂŶĚŽůĂƌ^Ϳ
ĂƚĂƐDĂŬƐŝŵƵŵ WĞƌŝŽĚĞ
EĂŵĂĂŶŬ &ĂƐŝůŝƚĂƐ ŝĐŝůĂŶWŽŬŽŬ
<ƌĞĚŝƚ ǁĂů ŬŚŝƌ
ϯϭKŬƚŽďĞƌ ^ĞƚŝĂƉƚŝŐĂďƵůĂŶ
<ƌĞĚŝƚ^ŝŶĚŝŬĂƐŝĞƌũĂŶŐŬĂy/// / ^ΨϰϬϬ ϭϴDĞŝϮϬϮϵ
ϮϬϮϯ ƐĞŬĂůŝ
^ĞƚŝĂƉƚŝŐĂďƵůĂŶ
<ƌĞĚŝƚ^ŝŶĚŝŬĂƐŝĞƌũĂŶŐŬĂy// / ^ΨϯϮϳ ϮϮ:ƵůŝϮϬϮϮ Ϯϱ:ƵůŝϮϬϮϲ
ƐĞŬĂůŝ
ϭϴ:ĂŶƵĂƌŝ ^ĞƚŝĂƉƚŝŐĂďƵůĂŶ
<ƌĞĚŝƚ^ŝŶĚŝŬĂƐŝĞƌũĂŶŐŬĂy/ / ^ΨϮϳϬ ϰDĞŝϮϬϮϭ
ϮϬϮϱ ƐĞŬĂůŝ
ϯϭDĂƌĞƚ Ϯϯ&ĞďƌƵĂƌŝ ^ĞƚŝĂƉƚŝŐĂďƵůĂŶ
<ƌĞĚŝƚ^ŝŶĚŝŬĂƐŝĞƌũĂŶŐŬĂy / ^ΨϮϱϱ
ϮϬϮϬ ϮϬϮϰ ƐĞŬĂůŝ
WĞƌƐĞƌŽĂŶ ŵĞŵďĂLJĂƌ ƐƵŬƵ ďƵŶŐĂ ƚĂŚƵŶĂŶ ĨĂƐŝůŝƚĂƐ ƉŝŶũĂŵĂŶ ƐŝŶĚŝŬĂƐŝ ƐĞďĞƐĂƌ ϯ ŵŽŶƚŚƐ dĞƌŵ ^K&Z н ŵĂƌŐŝŶ ƵŶƚƵŬ
ϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶƚĂŚƵŶϮϬϮϯ͘
<ƌĞĚŝƚDŽĚĂů<ĞƌũĂ
ĞƌŝŬƵƚŝŶŝĂĚĂůĂŚƚĂďĞůƌŝŶĐŝĂŶĚĂƌŝĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶŬƌĞĚŝƚŵŽĚĂůŬĞƌũĂLJĂŶŐĚŝƚĞƌŝŵĂĚĂůĂŵZƵƉŝĂŚ͗
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ĂƚĂƐDĂŬƐŝŵƵŵ WĞƌŝŽĚĞ
EĂŵĂĂŶŬ &ĂƐŝůŝƚĂƐ ŝĐŝůĂŶWŽŬŽŬ
<ƌĞĚŝƚ ǁĂů ŬŚŝƌ
WdĂŶŬDĂŶĚŝƌŝ / ϰϬϬ͘ϬϬϬ ϮϳŐƵƐƚƵƐ ϮϲŐƵƐƚƵƐ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
;WĞƌƐĞƌŽͿdďŬ ϮϬϭϱ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬWĞƌŵĂƚĂdďŬ / ϭϬϬ͘ϬϬϬ Ϯϳ&ĞďƌƵĂƌŝ ϮϭDĞŝ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
ϮϬϭϳ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬ/DEŝĂŐĂ / ϯϱϬ͘ϬϬϬΎ ϮϮĞƐĞŵďĞƌ ϭĞƐĞŵďĞƌ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
dďŬ ϮϬϭϰ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬd / ϭϱϬ͘ϬϬϬΎ ϭϴ^ĞƉƚĞŵďĞƌ ϯϬ^ĞƉƚĞŵďĞƌ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
/ŶĚŽŶĞƐŝĂ ϮϬϭϰ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
/ ϭϬϬ͘ϬϬϬ ϱ:ƵŶŝ ϮϰDĞŝ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
WdĂŶŬEĂƚŝŽŶĂůŶŽďƵ ϮϬϭϱ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
dďŬ // ϮϬϬ͘ϬϬϬ ϮϮDĞŝϮϬϮϰ ϮϮŐƵƐƚƵƐ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
ϮϬϮϰ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬ^D / ϱϬϬ͘ϬϬϬΎ ϭϴDĂƌĞƚϮϬϭϲ ϯϭDĂƌĞƚϮϬϮϱ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
/ŶĚŽŶĞƐŝĂdďŬ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
;^ĞďĞůƵŵŶLJĂWdĂŶŬ
dWEdďŬͿ
WdĂŶŬWĂŶ / ϴϬϬ͘ϬϬϬΎ ϮϮDĂƌĞƚϮϬϭϬ ϮϮDĂƌĞƚϮϬϮϱ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
/ŶĚŽŶĞƐŝĂdďŬ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬĂŶĂŵŽŶ / ϰϬϬ͘ϬϬϬΎ ϭϵ^ĞƉƚĞŵďĞƌ ϵ:ĂŶƵĂƌŝϮϬϮϱ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
dďŬ ϮϬϬϳ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬDŝnjƵŚŽ / ϮϬϬ͘ϬϬϬΎ ϮϴKŬƚŽďĞƌ ϮϴKŬƚŽďĞƌ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
/ŶĚŽŶĞƐŝĂ ϮϬϭϯ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬDĂLJďĂŶŬ / ϯϬϬ͘ϬϬϬΎ ϮϳDĞŝ ϮϳDĞŝ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
/ŶĚŽŶĞƐŝĂdďŬ ϮϬϭϭ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬsŝĐƚŽƌŝĂ / ϮϬ͘ϬϬϬ ϮϴEŽǀĞŵďĞƌ ϮϴEŽǀĞŵďĞƌ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
/ŶƚĞƌŶĂƚŝŽŶĂůdďŬ ϮϬϭϰ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬ^ / ϭϬϬ͘ϬϬϬΎ ϲ:ĂŶƵĂƌŝϮϬϭϳ ϯϬ^ĞƉƚĞŵďĞƌ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
/ŶĚŽŶĞƐŝĂ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
20
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PT INDOMOBIL FINANCE INDONESIA
ĂƚĂƐDĂŬƐŝŵƵŵ WĞƌŝŽĚĞ
EĂŵĂĂŶŬ &ĂƐŝůŝƚĂƐ ŝĐŝůĂŶWŽŬŽŬ
<ƌĞĚŝƚ ǁĂů ŬŚŝƌ
WdĂŶŬ/ŶĂWĞƌĚĂŶĂ / ϮϬ͘ϬϬϬ ϭϭŐƵƐƚƵƐ ϭϭŐƵƐƚƵƐ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
dďŬ ϮϬϮϬ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdďĂŶŬ,ŝďĂŶŬ / ϮϬϬ͘ϬϬϬ ϮϵŐƵƐƚƵƐ ϮϵŐƵƐƚƵƐ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
/ŶĚŽŶĞƐŝĂ ϮϬϮϰ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬ,^ / ϭϬϬ͘ϬϬϬΎ ϭϮĞƐĞŵďĞƌ ϭϮĞƐĞŵďĞƌ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
/ŶĚŽŶĞƐŝĂ ϮϬϮϰ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
ŝƚŝďĂŶŬE͘͘ĂďĂŶŐ / ϯϬϬ͘ϬϬϬΎ ϭϲĞƐĞŵďĞƌ ϭϲĞƐĞŵďĞƌ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
:ĂŬĂƌƚĂ ϮϬϮϰ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬ:ĂŐŽdďŬ / ϯϬϬ͘ϬϬϬ ϮϱDĂƌĞƚϮϬϮϭ ϭϴKŬƚŽďĞƌ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬ:ƚƌƵƐƚ / ϭϬϬ͘ϬϬϬ ϮϰŐƵƐƚƵƐ ϮϳŐƵƐƚƵƐ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
/ŶĚŽŶĞƐŝĂdďŬ ϮϬϮϭ ϮϬϮϰ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
WdĂŶŬŝŐŝƚĂů / ϭϬϬ͘ϬϬϬ ϰ:Ƶůŝ ϰ:Ƶůŝ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
ϮϬϮϮ ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
Dh&'ĂŶŬ͕>ƚĚ / ϰϬϬ͘ϬϬϬΎ ϭϱ:ƵŶŝϮϬϮϯ ϭϱĞƐĞŵďĞƌ WĞŵďĂLJĂƌĂŶƉĞŶƵŚƉĂĚĂ
ϮϬϮϱ ƐĂĂƚũĂƚƵŚƚĞŵƉŽ
ΎͿ&ĂƐŝůŝƚĂƐĚĂƉĂƚĚŝŐƵŶĂŬĂŶĚĂůĂŵŵĂƚĂƵĂŶŐŽůůĂƌ͘^ĚĂŶͬĂƚĂƵZƵƉŝĂŚ
WĞƌƐĞƌŽĂŶŵĞŵďĂLJĂƌƐƵŬƵďƵŶŐĂƚĂŚƵŶĂŶĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶĚĂůĂŵZƵƉŝĂŚϱ͕ϵϱй Ͳϳ͕ϲϬйƵŶƚƵŬƚĂŚƵŶϮϬϮϰĚĂŶϱ͘ϰϱй Ͳ
ϳ͕ϲϱйƵŶƚƵŬƚĂŚƵŶϮϬϮϯ͘
ĞƌŝŬƵƚŝŶŝĂĚĂůĂŚƚĂďĞůƌŝŶĐŝĂŶĚĂƌŝĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶŬƌĞĚŝƚŵŽĚĂůŬĞƌũĂLJĂŶŐĚŝƚĞƌŝŵĂĚĂůĂŵŽůĂƌ^͗
ĂƚĂƐ WĞƌŝŽĚĞ
EĂŵĂĂŶŬ &ĂƐŝůŝƚĂƐ DĂŬƐŝŵƵŵ ŝĐŝůĂŶWŽŬŽŬ
ǁĂů ŬŚŝƌ
<ƌĞĚŝƚ
WdĂŶŬE/ŶĚŽŶĞƐŝĂ / ^Ψϭϱ͘ϬϬϬ͘ϬϬϬΎ ϯϬEŽǀĞŵďĞƌϮϬϭϳ ϯϬƉƌŝů WĞŵďĂLJĂƌĂŶƉĞŶƵŚ
ϮϬϮϱ ƉĂĚĂƐĂĂƚũĂƚƵŚƚĞŵƉŽ
ΎͿ&ĂƐŝůŝƚĂƐĚĂƉĂƚĚŝŐƵŶĂŬĂŶĚĂůĂŵŵĂƚĂƵĂŶŐŽůůĂƌ͘^ĚĂŶͬĂƚĂƵZƵƉŝĂŚ^ĞƚĂƌĂ
WĞƌƐĞƌŽĂŶŵĞŵďĂLJĂƌƐƵŬƵďƵŶŐĂĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶĚĂůĂŵZƵƉŝĂŚƚĂŚƵŶĂŶƐĞďĞƐĂƌEŝůĚĂŶϳ͕ϱϬйƵŶƚƵŬƚĂŚƵŶϮϬϮϰĚĂŶ
ϮϬϮϯ͘
<ƌĞĚŝƚZĞŬĞŶŝŶŐ<ŽƌĂŶ
ĞƌŝŬƵƚŝŶŝĂĚĂůĂŚƚĂďĞůƌŝŶĐŝĂŶĚĂƌŝĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶŬƌĞĚŝƚƌĞŬĞŶŝŶŐŬŽƌĂŶLJĂŶŐĚŝƚĞƌŝŵĂĚĂůĂŵZƵƉŝĂŚ͗
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ĂƚĂƐDĂŬƐŝŵƵŵ WĞƌŝŽĚĞ
EĂŵĂĂŶŬ &ĂƐŝůŝƚĂƐ ŝĐŝůĂŶWŽŬŽŬ
<ƌĞĚŝƚ ǁĂů ŬŚŝƌ
WĞŵďĂLJĂƌĂŶƉĞŶƵŚ
WdĂŶŬĞŶƚƌĂů ϮϮEŽǀĞŵďĞƌ ϮϮ&ĞďƌƵĂƌŝ
/ ϯϬ͘ϬϬϬ ƉĂĚĂƐĂĂƚũĂƚƵŚ
ƐŝĂdďŬ ϮϬϭϬ ϮϬϮϱ
ƚĞŵƉŽ
WĞŵďĂLJĂƌĂŶƉĞŶƵŚ
WdĂŶŬĂŶĂŵŽŶ
/ ϭϬ͘ϬϬϬ ϭϵ:ĂŶƵĂƌŝϮϬϭϬ ϵ:ĂŶƵĂƌŝϮϬϮϱ ƉĂĚĂƐĂĂƚũĂƚƵŚ
/ŶĚŽŶĞƐŝĂdďŬ
ƚĞŵƉŽ
:WDŽƌŐĂŶŚĂƐĞ WĞŵďĂLJĂƌĂŶƉĞŶƵŚ
ĂŶŬ͕E͕͘͘ĂďĂŶŐ / ϮϬϬ͘ϬϬϬ ϭϲDĂƌĞƚϮϬϮϬ ϭϴDĂƌĞƚϮϬϮϱ ƉĂĚĂƐĂĂƚũĂƚƵŚ
:ĂŬĂƌƚĂ ƚĞŵƉŽ
^ƵŬƵďƵŶŐĂƚĂŚƵŶĂŶƵŶƚƵŬƉŝŶũĂŵĂŶĚĂůĂŵZƵƉŝĂŚĂĚĂůĂŚϳ͕ϬϬйͲϳ͕ϲϰйƵŶƚƵŬƚĂŚƵŶϮϬϮϰĚĂŶϱ͕ϬϳйͲϳ͕ϭϲйƵŶƚƵŬƚĂŚƵŶ
ϮϬϮϯ͘
ZŝŶĐŝĂŶƵƚĂŶŐďĂŶŬƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰŵĞŶƵƌƵƚƚĂŚƵŶũĂƚƵŚƚĞŵƉŽŶLJĂĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
<ĞƚĞƌĂŶŐĂŶ ϮϬϮϱ ϮϬϮϲ ϮϬϮϳ ϮϬϮϴ ϮϬϮϵ dŽƚĂů
<ƌĞĚŝƚďĞƌũĂŶŐŬĂ
<ƌĞĚŝƚ^ŝŶĚŝŬĂƐŝĞƌũĂŶŐŬĂ ϳϳϬ͘ϳϰϮ ϳϭϬ͘ϭϮϱ ϳϭϬ͘ϭϮϱ ϯϳϰ͘ϳϮϱ Ͳ Ϯ͘ϱϲϱ͘ϳϭϳ
y///
21
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<ĞƚĞƌĂŶŐĂŶ ϮϬϮϱ ϮϬϮϲ ϮϬϮϳ ϮϬϮϴ ϮϬϮϵ dŽƚĂů
<ƌĞĚŝƚ^ŝŶĚŝŬĂƐŝĞƌũĂŶŐŬĂ ϭ͘ϳϵϯ͘Ϯϰϲ ϳϯϬ͘ϳϭϵ Ͳ Ͳ Ͳ Ϯ͘ϱϮϯ͘ϵϲϱ
y//
<ƌĞĚŝƚ^ŝŶĚŝŬĂƐŝĞƌũĂŶŐŬĂ ϭϬϳ͘ϳϰϳ Ͳ Ͳ Ͳ ϭϬϳ͘ϳϰϳ
y/
:ĂŐŽ ϯϬϬ͘ϱϬϬ ϯϬϬ͘ϱϬϬ Ϯϱϲ͘ϳϱϬ ϭϵϲ͘ϯϯϯ ϰϮ͘ϳϱϬ ϭ͘Ϭϵϲ͘ϴϯϯ
WĂŶŝŶ ϯϭϲ͘ϲϲϳ ϭϲϲ͘ϲϲϳ ϰϰ͘ϰϰϰ Ͳ Ͳ ϱϮϳ͘ϳϳϴ
K< ϮϬϬ͘ϬϬϬ ϮϬϬ͘ϬϬϬ Ͳ Ͳ Ͳ ϰϬϬ͘ϬϬϬ
Dh&' ϵϬ͘ϵϭϮ Ͳ Ͳ Ͳ Ͳ ϵϬ͘ϵϭϮ
/< ϯϳ͘ϯϳϲ ϰϬ͘ϭϵϴ Ϯϭ͘ϮϮϯ Ͳ Ͳ ϵϴ͘ϳϵϳ
:ƚƌƵƐƚ ϱϯ͘ϲϯϬ Ϯϯ͘ϰϯϰ Ͳ Ͳ Ͳ ϳϳ͘Ϭϲϰ
WĞƌŵĂƚĂ ϱϮ͘Ϭϴϯ Ͳ Ͳ Ͳ Ͳ ϱϮ͘Ϭϴϯ
,ĂŶĂ ϭϭ͘ϭϭϭ Ͳ Ͳ Ͳ Ͳ ϭϭ͘ϭϭϭ
DƵĂŵĂůĂƚ ϭϳ͘ϲϳϰ Ͳ Ͳ Ͳ Ͳ ϭϳ͘ϲϳϰ
dWE^LJĂƌŝĂŚ ϯϰ͘ϱϱϭ Ͳ Ͳ Ͳ Ͳ ϯϰ͘ϱϱϭ
<ƌĞĚŝƚŵŽĚĂůŬĞƌũĂ
DĂŶĚŝƌŝ ϰϬϬ͘ϬϬϬ Ͳ Ͳ Ͳ Ͳ ϰϬϬ͘ϬϬϬ
Dh&' ϰϬϬ͘ϬϬϬ Ͳ Ͳ Ͳ Ͳ ϰϬϬ͘ϬϬϬ
/DEŝĂŐĂ ϯϱϬ͘ϬϬϬ Ͳ Ͳ Ͳ Ͳ ϯϱϬ͘ϬϬϬ
,ŝĂŶŬ ϮϬϬ͘ϬϬϬ Ͳ Ͳ Ͳ Ͳ ϮϬϬ͘ϬϬϬ
DŝnjƵŚŽ ϮϬϬ͘ϬϬϬ Ͳ Ͳ Ͳ Ͳ ϮϬϬ͘ϬϬϬ
ŝŐŝƚĂů ϭϬϬ͘ϬϬϬ Ͳ Ͳ Ͳ Ͳ ϭϬϬ͘ϬϬϬ
sŝĐƚŽƌŝĂ ϮϬ͘ϬϬϬ Ͳ Ͳ Ͳ Ͳ ϮϬ͘ϬϬϬ
dŽƚĂů ϱ͘ϰϱϲ͘Ϯϯϵ Ϯ͘ϭϳϭ͘ϲϰϯ ϭ͘ϬϯϮ͘ϱϰϮ ϱϳϭ͘Ϭϱϴ ϰϮ͘ϳϱϬ ϵ͘Ϯϳϰ͘ϮϯϮ
Ϯ͘ ĞďĂŶŬƌƵĂů
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌ
ϮϬϮϰ
ƵŶŐĂƵƚĂŶŐďĂŶŬ ϱϳ͘ϰϮϲ
ƵŶŐĂŽďůŝŐĂƐŝ ϭϰ͘ϰϰϮ
>ĂŝŶͲůĂŝŶ ϯϲ͘ϰϵϵ
dŽƚĂů ϭϬϴ͘ϯϲϳ
ϯ͘ hƚĂŶŐWĂũĂŬ
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌ
ϮϬϮϰ
hƚĂŶŐƉĂũĂŬƉĞŶŐŚĂƐŝůĂŶ
WĂƐĂůϮϵ ϭϭϵ
WĂũĂŬƉĞŶŐŚĂƐŝůĂŶ
WĂƐĂůϮϭ ϵϭϯ
WĂƐĂůϮϯͬϮϲ Ϯ͘ϮϮϱ
WĂƐĂůϮϱ Ϯ͘ϲϳϴ
WĂƐĂůϰ;ϮͿ Ϯϰϴ
WĂũĂŬWĞƌƚĂŵďĂŚĂŶEŝůĂŝ ϯϴϱ
dŽƚĂů ϲ͘ϱϲϴ
ϰ͘ hƚĂŶŐ>ĂŝŶͲ>ĂŝŶ
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌϮϬϮϰ
ϮϬϮϰ
hƚĂŶŐĂƐƵƌĂŶƐŝĚĂŶůĂŝŶͲůĂŝŶ
WŝŚĂŬŬĞƚŝŐĂ ϭϵϬ͘ϳϵϴ
WŝŚĂŬďĞƌĞůĂƐŝ ϱ͘ϳϲϮ
>ŝĂďŝůŝƚĂƐƐĞǁĂ ϭϵ͘ϬϱϬ
hƚĂŶŐĚĞĂůĞƌ
WŝŚĂŬŬĞƚŝŐĂ ϭ͘ϭϴϰ
hƚĂŶŐĂƚĂƐƚƌĂŶƐĂŬƐŝƌĞĨŝŶĂŶĐŝŶŐ<WZĚĂŶƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂ ϰϮϴ
dŽƚĂů Ϯϭϳ͘ϮϮϮ
22
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:ƵŵůĂŚďĞďĂŶďƵŶŐĂĂƚĂƐůŝĂďŝůŝƚĂƐƐĞǁĂƐĞďĞƐĂƌZƉϯ͘ϭϭϮũƵƚĂƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͘
ŶĂůŝƐŝƐũĂƚƵŚƚĞŵƉŽƵƚĂŶŐůĂŝŶͲůĂŝŶƚĞƌŬĂŝƚƐĞǁĂĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌϮϬϮϰ
ϮϬϮϰ
dŽƚĂů–ƉŝŚĂŬŬĞƚŝŐĂ ϭϵ͘ϬϱϬ
WĞƌƐĞƌŽĂŶŵĞŶŐĂĚĂŬĂŶƉĞƌũĂŶũŝĂŶƌĞĨŝŶĂŶĐŝŶŐ<WZĚŝŵĂŶĂƵƚĂŶŐWĞƌƐĞƌŽĂŶĚŝĐĂƚĂƚƐĞďĂŐĂŝƵƚĂŶŐĂƚĂƐƚƌĂŶƐĂŬƐŝƌĞĨŝŶĂŶĐŝŶŐ͘
WĞƌƐĞƌŽĂŶ ŵĞŶŐĂĚĂŬĂŶ ŬĞƌũĂƐĂŵĂ ƉĞŵďŝĂLJĂĂŶ ďĞƌƐĂŵĂ ĚĞŶŐĂŶ ďĂŶŬ͕ ĚŝŵĂŶĂ ƵƚĂŶŐ WĞƌƐĞƌŽĂŶ LJĂŶŐ ƚŝŵďƵů ĚĂůĂŵ
ŚƵďƵŶŐĂŶĚĞŶŐĂŶƉĞƌũĂŶũŝĂŶƚĞƌƐĞďƵƚ͕ĚŝĐĂƚĂƚƐĞďĂŐĂŝůŝĂďŝůŝƚĂƐĂƚĂƐƚƌĂŶƐĂŬƐŝƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂ͘
ϱ͘ hƚĂŶŐKďůŝŐĂƐŝ
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌϮϬϮϰ
ϮϬϮϰ
EŝůĂŝŶŽŵŝŶĂů ϰ͘ϯϵϰ͘ϳϯϱ
ŝŬƵƌĂŶŐŝďŝĂLJĂĞŵŝƐŝŽďůŝŐĂƐŝĚŝƚĂŶŐŐƵŚŬĂŶ ;ϴ͘ϭϮϱͿ
dŽƚĂů ϰ͘ϯϴϲ͘ϲϭϬ
ϲ͘ /ŶƐƚƌƵŵĞŶ<ĞƵĂŶŐĂŶĞƌŝǀĂƚŝĨ
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌϮϬϮϰ
ƌŽƐƐͲĐƵƌƌĞŶĐLJŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉ EŽƚŝŽŶĂůŵŽƵŶƚ ĞƌŝǀĂƚŝǀĞƌĞĐĞŝǀĂďůĞƐ
;ŝŶh^ŽůůĂƌͿ ;ŝŶZƵƉŝĂŚͿ
WdĂŶŬDĂLJďĂŶŬ/ŶĚŽŶĞƐŝĂdďŬ ϭϮϳ͘ϬϬϱ͘ϬϬϬ ϴϰ͘ϲϮϴ
WdĂŶŬhK/ŶĚŽŶĞƐŝĂ ϱϱ͘ϰϲϰ͘ϰϭϯ ϱϵ͘ϬϮϮ
WdĂŶŬ^/ŶĚŽŶĞƐŝĂ ϰϮ͘ϱϬϬ͘ϬϬϬ ϯϲ͘ϬϬϮ
WdĂŶŬDĂŶĚŝƌŝ;WĞƌƐĞƌŽͿdďŬ Ϯϳ͘ϱϬϬ͘ϬϬϬ ϯϱ͘ϱϭϰ
WdĂŶŬĂŶĂŵŽŶ/ŶĚŽŶĞƐŝĂdďŬ ϭϱ͘ϬϬϬ͘ϬϬϬ ϭϳ͘Ϯϰϱ
WdĂŶŬ/DEŝĂŐĂdďŬ ϵ͘ϭϭϯ͘ϵϮϬ ϭϬ͘Ϭϭϱ
Dh&'ĂŶŬ͕>ƚĚ͘ ϰ͘ϴϱϭ͘ϲϭϭ ϭ͘ϰϱϲ
dŽƚĂů Ϯϰϯ͘ϴϴϮ
ϯϭĞƐĞŵďĞƌϮϬϮϰ
ƌŽƐƐͲĐƵƌƌĞŶĐLJŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉ EŽƚŝŽŶĂůŵŽƵŶƚ ĞƌŝǀĂƚŝǀĞƉĂLJĂďůĞƐ
;ŝŶh^ŽůůĂƌͿ ;ŝŶZƵƉŝĂŚͿ
WdĂŶŬZĂŬLJĂƚ/ŶĚŽŶĞƐŝĂdďŬ ϭϬ͘ϬϬϬ͘ϬϬϬ Ϯϱ͘Ϯϯϱ
WdĂŶŬE/ŶĚŽŶĞƐŝĂ ϯϱ͘ϬϬϬ͘ϬϬϬ ϱ͘ϱϯϱ
dŽƚĂů ϯϬ͘ϳϳϬ
ϳ͘ ĂŶĂWĞŶƐŝƵŶĚĂŶWĞŶLJŝƐŝŚĂŶ/ŵďĂůĂŶ<ĞƌũĂ<ĂƌLJĂǁĂŶ
WĞƌƐĞƌŽĂŶŵĞŶLJĞůĞŶŐŐĂƌĂŬĂŶƉƌŽŐƌĂŵƉĞŶƐŝƵŶŝƵƌĂŶƉĂƐƚŝ͘WƌŽŐƌĂŵĚĂŶĂƉĞŶƐŝƵŶWĞƌƐĞƌŽĂŶĚŝŬĞůŽůĂƐĞĐĂƌĂƚĞƌƉŝƐĂŚŽůĞŚ
ĂŶĂWĞŶƐŝƵŶ/ŶĚŽŵŽďŝů'ƌŽƵƉ;W/'Ϳ͘WĞŶĚŝƌŝĂŶW/'ƚĞůĂŚĚŝƐĞƚƵũƵŝŽůĞŚDĞŶƚĞƌŝ<ĞƵĂŶŐĂŶZĞƉƵůŝŬ/ŶĚŽŶĞƐŝĂďĞƌĚĂƐĂƌŬĂŶ
^ƵƌĂƚ<ĞƉƵƚƵƐĂŶEŽ͘< WϭϳϮͬ<D͘ϲͬϮϬϬϯƚĂŶŐŐĂůϴŐƵƐƚƵƐϮϬϬϯ͘
/ƵƌĂŶ ƉĞŶƐŝƵŶ sebesar Rp9.850 juta pada tahun 2024, disajikan sebagai bagian dari akun “Gaji, Tunjangan, dan Beban
Kesejahteraan Karyawan” pada laporan laba rugi dan penghasilan komprehensif lain.
^ĞďĂŐĂŝ ƚĂŵďĂŚĂŶ ƉĂĚĂ ƉƌŽŐƌĂŵ ŝƵƌĂŶ ƉĂƐƚŝ͕ WĞƌƐĞƌŽĂŶ ŵĞŶĐĂƚĂƚ ƉĞŶLJŝƐŝŚĂŶ ƵŶƚƵŬ ŝŵďĂůĂŶ ŬĞƌũĂ ŬĂƌLJĂǁĂŶ ƐĞďĞƐĂƌ
ZƉϮϮ͘ϰϵϬũƵƚĂƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͘ĞďĂŶŬĞƐĞũĂŚƚĞƌĂĂŶŬĂƌLJĂǁĂŶƐĞďĞƐĂƌZƉϯ͘ϲϭϭũƵƚĂƉĂĚĂƚĂŚƵŶϮϬϮϰ͕ĚĂŶ
disajikan sebagai bagian dari akun “Gaji, Tunjangan, dan Beban Kesejahteraan Karyawan” pada laporan ůĂďĂ ƌƵŐŝ ĚĂŶ
ƉĞŶŐŚĂƐŝůĂŶŬŽŵƉƌĞŚĞŶƐŝĨůĂŝŶ͘
WĞŶLJŝƐŝŚĂŶŝŵďĂůĂŶŬĞƌũĂŬĂƌLJĂǁĂŶƵŶƚƵŬƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚŝĚĂƐĂƌŬĂŶƉĂĚĂƉĞƌŚŝƚƵŶŐĂŶĂŬƚƵĂƌŝƐLJĂŶŐĚŝůĂŬƵŬĂŶ
ŽůĞŚĂŬƚƵĂƌŝĂŝŶĚĞƉĞŶĚĞŶzƵƐŝĚĂŶZĞŬĂŶĚĂůĂŵůĂƉŽƌĂŶĂŬƚƵĂƌŝĂƚĞƌƚĂŶŐŐĂůϭϬ:ĂŶƵĂƌŝϮϬϮϱĚĞŶŐĂŶŵĞŶŐŐƵŶĂŬĂŶŵĞƚŽĚĞ
perhitungan aktuarial “WƌŽũĞĐƚĞĚhŶŝƚƌĞĚŝƚ” yang mempertimbangkan asumsiͲĂƐƵŵƐŝƉĞŶƚŝŶŐďĞƌŝŬƵƚ͗
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ϯϭĞƐĞŵďĞƌϮϬϮϰ
ϮϬϮϰ
dŝŶŐŬĂƚďƵŶŐĂĚŝƐŬŽŶƚŽƚĂŚƵŶĂŶ ϲ͕ϯϭйͲϳ͕Ϭϰй
dŝŶŐŬĂƚŬĞŶĂŝŬĂŶŐĂũŝƚĂŚƵŶĂŶ ϱ͕ϬϬй
dĂďĞůŵŽƌƚĂůŝƚĂƐ dD/ͲϮϬϭϵ
hŵƵƌƉĞŶƐŝƵŶ ϱϱƚĂŚƵŶ
DƵƚĂƐŝůŝĂďŝůŝƚĂƐŝŵďĂůĂŶŬĞƌũĂŬĂƌLJĂǁĂŶĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϯϭĞƐĞŵďĞƌϮϬϮϰ
ϮϬϮϰ
^ĂůĚŽĂǁĂů Ϯϯ͘ϭϴϰ
:ƵŵůĂŚLJĂŶŐĚŝĂŬƵŝĚŝƉĞŶŐŚĂƐŝůĂŶŬŽŵƉƌĞŚĞŶƐŝĨůĂŝŶ ;Ϯ͘ϲϮϯͿ
WĞŶĂŵďĂŚĂŶƉĞŶLJŝƐŝŚĂŶƐĞůĂŵĂƚĂŚƵŶďĞƌũĂůĂŶ ϯ͘ϲϭϭ
WĞŵďĂLJĂƌĂŶƐĞůĂŵĂƚĂŚƵŶďĞƌũĂůĂŶ ;ϭ͘ϲϴϮͿ
^ĂůĚŽĂŬŚŝƌ ϮϮ͘ϰϵϬ
ĞďĂŶŬĞƐĞũĂŚƚĞƌĂĂŶŬĂƌLJĂǁĂŶďĞƌĚĂƐĂƌŬĂŶƉĞƌŚŝƚƵŶŐĂŶĂŬƚƵĂƌŝƐĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϯϭĞƐĞŵďĞƌϮϬϮϰ
ϮϬϮϰ
ĞďĂŶũĂƐĂŬŝŶŝ ϱ͘ϰϬϱ
ĞďĂŶďƵŶŐĂ ϭ͘ϰϵϭ
ĞďĂŶũĂƐĂůĂůƵ ;ϯ͘ϮϴϱͿ
dŽƚĂů ϯ͘ϲϭϭ
DƵƚĂƐŝŶŝůĂŝŬŝŶŝůŝĂďŝůŝƚĂƐŝŵďĂůĂŶŬĞƌũĂĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϯϭĞƐĞŵďĞƌϮϬϮϰ
ϮϬϮϰ
^ĂůĚŽĂǁĂů Ϯϯ͘ϭϴϰ
ĞďĂŶũĂƐĂŬŝŶŝ ϱ͘ϰϬϱ
ĞďĂŶďƵŶŐĂ ϭ͘ϰϵϭ
<ĞƵŶƚƵŶŐĂŶĂŬƚƵĂƌŝĂ ;Ϯ͘ϲϮϯͿ
WĞŵďĂLJĂƌĂŶƉĞƐĂŶŐŽŶ ;ϭ͘ϲϴϮͿ
ĞďĂŶũĂƐĂůĂůƵ ;ϯ͘ϮϴϱͿ
^ĂůĚŽĂŬŚŝƌ ϮϮ͘ϰϵϬ
dĂďĞů ďĞƌŝŬƵƚ ŵĞŶƵŶũƵŬŬĂŶ ƐĞŶƐŝƚŝǀŝƚĂƐ ĂƚĂƐ ŬĞŵƵŶŐŬŝŶĂŶ ƉĞƌƵďĂŚĂŶ ƚŝŶŐŬĂƚ ƐƵŬƵ ďƵŶŐĂ ƉĂƐĂƌ͕ ĚĞŶŐĂŶ ǀĂƌŝĂďĞů ůĂŝŶ
ĚŝĂŶŐŐĂƉƚĞƚĂƉ͕ƚĞƌŚĂĚĂƉŬĞǁĂũŝďĂŶŝŵďĂůĂŶƉĂƐĐĂŬĞƌũĂĚĂŶďĞďĂŶũĂƐĂŬŝŶŝƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͗;ƚŝĚĂŬĚŝĂƵĚŝƚͿ
ϯϭĞƐĞŵďĞƌϮϬϮϰ
<ĞǁĂũŝďĂŶ
ŝŵďĂůĂŶ
ƉĂƐĐĂŬĞƌũĂ
<ĞŶĂŝŬĂŶƚŝŶŐŬĂƚĚŝƐŬŽŶƚŽϭй ;ϯ͘ϲϭϭͿ
WĞŶƵƌƵŶĂŶƚŝŶŐŬĂƚĚŝƐŬŽŶƚŽϭй ϰ͘ϳϵϯ
<ĞŶĂŝŬĂŶƚŝŶŐŬĂƚŐĂũŝϭй ϰ͘ϲϵϱ
WĞŶƵƌƵŶĂŶƚŝŶŐŬĂƚŐĂũŝϭй ;ϯ͘ϱϲϮͿ
>ŝĂďŝůŝƚĂƐĂƚĂƐŝŵďĂůĂŶŬĞƌũĂŬĂƌLJĂǁĂŶĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϯϭĞƐĞŵďĞƌϮϬϮϰ
EŝůĂŝŬŝŶŝůŝĂďŝůŝƚĂƐŝŵďĂůĂŶŬĞƌũĂ ϮϮ͘ϰϵϬ
ŶĂůŝƐĂƉƌŽĨŝůũĂƚƵŚƚĞŵƉŽƉĞŵďĂLJĂƌĂŶŝŵďĂůĂŶŬĞƌũĂŬĂƌLJĂǁĂŶƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ ĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
;ƚŝĚĂŬĚŝĂƵĚŝƚͿ
ϯϭĞƐĞŵďĞƌϮϬϮϰ
ϮϬϮϰ
<ƵƌĂŶŐĚĂƌŝϭƚĂŚƵŶ ϳ͘ϱϮϭ
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ϯϭĞƐĞŵďĞƌϮϬϮϰ
ϮϬϮϰ
ϭͲϮƚĂŚƵŶ ϭ͘ϰϭϭ
ϮͲϱƚĂŚƵŶ ϱ͘ϴϱϬ
ϱͲϭϬƚĂŚƵŶ ϱ͘ϵϵϴ
>ĞďŝŚĚĂƌŝϭϬƚĂŚƵŶ ϵϱ͘ϰϯϴ
ƵƌĂƐŝƌĂƚĂͲƌĂƚĂůŝĂďŝůŝƚĂƐŝŵďĂůĂŶŬĞƌũĂŬĂƌLJĂǁĂŶƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰŵĂƐŝŶŐͲŵĂƐŝŶŐĂĚĂůĂŚƐĞďĞƐĂƌϭϰ͕ϰϮƚĂŚƵŶ
;ƚŝĚĂŬĚŝĂƵĚŝƚͿ͘
ϴ͘ <ĞƚĞƌĂŶŐĂŶdĞŶƚĂŶŐ ĨĞŬĞƌƐŝĨĂƚhƚĂŶŐLJĂŶŐĞůƵŵŝůƵŶĂƐŝ
,ŝŶŐŐĂ WƌŽƐƉĞŬƚƵƐ ŝŶŝ ĚŝƚĞƌďŝƚŬĂŶ͕ ũƵŵůĂŚ ĞĨĞŬ ďĞƌƐŝĨĂƚ ƵƚĂŶŐ LJĂŶŐ ƚĞůĂŚ ĚŝƚĞƌďŝƚŬĂŶ ŽůĞŚ WĞƌƐĞƌŽĂŶ ĚĂŶ ŵĂƐŝŚ ƚĞƌƵƚĂŶŐ
ƐĂŵƉĂŝĚĞŶŐĂŶĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝĂĚĂůĂŚƐĞďĞƐĂƌZƉϰ͘ϬϭϮ͘ϳϯϱ͕ͲĚĞŶŐĂŶƉĞƌŝŶĐŝĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
EĂŵĂ ĨĞŬ ^Ğƌŝ dŝŶŐŬĂƚƵŶŐĂ :ĂƚƵŚdĞŵƉŽ :ƵŵůĂŚ
ƉĞƌdĂŚƵŶ;йͿ KďůŝŐĂƐŝ
dĞƌƵƚĂŶŐ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ /s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϵ͕ϵϬ ϰŐƵƐƚƵƐϮϬϮϱ ϵϬ͘ϬϬϬ
/ŶĚŽŶĞƐŝĂĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉdĂŚĂƉ/dĂŚƵŶ
ϮϬϮϬ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ /s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϱϬ ϭϵEŽǀĞŵďĞƌ ϱϵϯ͘ϱϰϬ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ // ϮϬϮϲ
dĂŚƵŶϮϬϮϭ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ /s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϱϬ ϮϱDĂƌĞƚϮϬϮϳ ϯϮ͘Ϯϴϱ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ ///
dĂŚƵŶϮϬϮϮ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϲϬ ϴ:ƵůŝϮϬϮϳ ϭϬϬ͘ϬϬϬ
/ŶĚŽŶĞƐŝĂĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉdĂŚĂƉ/dĂŚƵŶ
ϮϬϮϮ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϱϬ ϮϴDĂƌĞƚϮϬϮϲ Ϯϳϵ͘ϱϴϱ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ //
dĂŚƵŶϮϬϮϯ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϳϱ ϮϴDĂƌĞƚϮϬϮϴ ϴϲ͘ϯϮϬ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ //
dĂŚƵŶϮϬϮϯ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϲ͕ϴϱ ϭ:ƵůŝϮϬϮϱ ϭ͘ϰϬϰ͘ϵϴϬ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ ///
dĂŚƵŶϮϬϮϰ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϭϱ Ϯϭ:ƵŶŝϮϬϮϳ ϲϭϭ͘ϭϲϬ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ ///
dĂŚƵŶϮϬϮϰ
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ϳ͕ϰϬ Ϯϭ:ƵŶŝϮϬϮϵ ϴϭϰ͘ϴϲϱ
/ŶĚŽŶĞƐŝĂ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ ///
dĂŚƵŶϮϬϮϰ
:ƵŵůĂŚ ϰ͘ϬϭϮ͘ϳϯϱ
,ŝŶŐŐĂWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶ͕WĞƌƐĞƌŽĂŶƚĞůĂŚŵĞůĂŬƵŬĂŶƉĞŵďĂLJĂƌĂŶďƵŶŐĂŽďůŝŐĂƐŝƐĞƐƵĂŝĚĞŶŐĂŶũĂƚƵŚƚĞŵƉŽ LJĂŶŐ
ƚĞůĂŚ ĚŝƚĞƚĂƉŬĂŶ ĚĂůĂŵ ƉĞƌũĂŶũŝĂŶ ƉĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶ ƚĞůĂŚ ŵĞŵĞŶƵŚŝ ƐĞůƵƌƵŚ ƉĞƌƐLJĂƌĂƚĂŶ LJĂŶŐ ĚŝƐĞďƵƚŬĂŶ ĚĂůĂŵ
ƉĞƌũĂŶũŝĂŶƉĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘:ƵŵůĂŚƉŽŬŽŬƵƚĂŶŐŽďůŝŐĂƐŝƚĞůĂŚĚŝďĂLJĂƌŬĂŶƐĞƐƵĂŝĚĞŶŐĂŶƚĂŶŐŐĂůũĂƚƵŚƚĞŵƉŽŽďůŝŐĂƐŝLJĂŶŐ
ďĞƌƐĂŶŐŬƵƚĂŶ͘
ϵ͘ <ĞǁĂũŝďĂŶ<ĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶLJĂŶŐŬĂŶ:ĂƚƵŚdĞŵƉŽĂůĂŵ:ĂŶŐŬĂtĂŬƚƵϯƵůĂŶ<ĞĞƉĂŶ
ĚĂƉƵŶ ŬĞǁĂũŝďĂŶ ŬĞƵĂŶŐĂŶ WĞƌƐĞƌŽĂŶ LJĂŶŐ ĂŬĂŶ ũĂƚƵŚ ƚĞŵƉŽ ĚĂůĂŵ ũĂŶŐŬĂ ǁĂŬƚƵ ϯ ďƵůĂŶ ŬĞ ĚĞƉĂŶ ƚĞƌŚŝƚƵŶŐ ĚĂƌŝ
WƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
:ƵŵůĂŚ
hƌĂŝĂŶ;ZƵƉŝĂŚͿ
DĞŝϮϬϮϱ :ƵŶŝϮϬϮϱ :ƵůŝϮϬϮϱ
>ŝĂďŝůŝƚĂƐ
hƚĂŶŐĂŶŬ Ϯϯϴ͘ϱϴϱ ϮϰϮ͘ϴϭϬ ϲϰϴ͘ϰϲϱ
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:ƵŵůĂŚ
hƌĂŝĂŶ;ZƵƉŝĂŚͿ
DĞŝϮϬϮϱ :ƵŶŝϮϬϮϱ :ƵůŝϮϬϮϱ
hƚĂŶŐWĂũĂŬ ϰ͘ϬϮϮ ϳ͘ϴϵϰ ϰ͘Ϯϰϭ
hƚĂŶŐ>ĂŝŶͲůĂŝŶ Ͳ Ͳ Ͳ
hƚĂŶŐKďůŝŐĂƐŝ–ŶĞƚŽ ϭϯ͘ϯϱϲ ϯϯ͘ϱϮϬ ϭ͘ϰϯϯ͘ϲϭϰ
hƚĂŶŐĞƌŝǀĂƚŝĨ Ͳ Ͳ Ͳ
dŽƚĂů>ŝĂďŝůŝƚĂƐ Ϯϱϱ͘ϵϲϯ Ϯϴϰ͘ϮϮϰ Ϯ͘Ϭϴϲ͘ϯϮϬ
ĂůĂŵŵĞŵĞŶƵŚŝŬĞǁĂũŝďĂŶŬĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶLJĂŶŐĂŬĂŶũĂƚƵŚƚĞŵƉŽĚĂůĂŵũĂŶŐŬĂǁĂŬƚƵϯďƵůĂŶŬĞ ĚĞƉĂŶƚĞƌƐĞďƵƚ
ĚŝĂƚĂƐ͕WĞƌƐĞƌŽĂŶĂŬĂŶŵĞŶŐŐƵŶĂŬĂŶĚĂŶĂLJĂŶŐďĞƌĂƐĂůĚĂƌŝŬĂƐŝŶƚĞƌŶĂůLJĂŶŐĚŝŵŝůŝŬŝWĞƌƐĞƌŽĂŶ͘
WĞƌƐĞƌŽĂŶƐĞŶĂŶƚŝĂƐĂŵĞůĂŬƵŬĂŶƉĞŵĂŶƚĂƵĂŶƚĞƌŚĂĚĂƉŬĞǁĂũŝďĂŶLJĂŶŐĂŬĂŶũĂƚƵŚƚĞŵƉŽ͕ƐĞŚŝŶŐŐĂƐĞƚŝĂƉŬĞǁĂũŝďĂŶLJĂŶŐ
ĂŬĂŶũĂƚƵŚƚĞŵƉŽƐĞůĂůƵĚĂƉĂƚĚŝƉĞŶƵŚŝĚĞŶŐĂŶƚĞƉĂƚǁĂŬƚƵ͘
ĞŶŐĂŶŝŶŝŵĂŶĂũĞŵĞŶŵĞŶLJĂƚĂŬĂŶƐĂŶŐŐƵƉƵŶƚƵŬŵĞŶLJĞůĞƐĂŝŬĂŶƐĞůƵƌƵŚůŝĂďŝůŝƚĂƐWĞƌƐĞƌŽĂŶƐĞďĂŐĂŝŵĂŶĂŵĞƐƚŝŶLJĂ͘
ϭϬ͘ <ŽŵŝƚŵĞŶĚĂŶ<ŽŶƚŝŶũĞŶƐŝ
WĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝŬŽŵŝƚŵĞŶĚĂŶŬŽŶƚŝŶũĞŶƐŝLJĂŶŐƐŝŐŶŝĨŝŬĂŶƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯ͘
^ >hZh, >//>/d^ W Z^ ZKE W dE''> ϯϭ ^ D Z ϮϬϮϰ d >, /hE'<W<E >D
WZK^W <dh^/E/͘WdE'>/d Z/d<EEzWZK^W <dh^/E/͕W Z^ ZKEd >,D >hE^/^ >hZh,
>//>/d^ zE' d >, :dh, d DWK͘ d/< >//>/d^ zE' d >, :dh, d DWK zE' >hD
/>hE^/K> ,W Z^ ZKE͘
d Z,/dhE' Z/ dE''> ϯϭ ^ D Z ϮϬϮϰ E hEdh< W Z/K ϭϮ ;h >^Ϳ h>E zE'
Z<,/Z W dE''> d Z^ hd͕ E Z/ dE''> >WKZE h/dKZ /E W E E d Z^ hd
^DW/ E'EdE''> & <d/&WZK^W <dh^/E/͕W Z^ ZKEd/<D D/>/</>//>/d^E/<dEͲ
/<dE Zh ^ >/E >//>/d^Ͳ>//>/d^ zE' d/Dh> Z/ < '/dE h^, EKZD> W Z^ ZKE
^ Zd>//>/d^Ͳ>//>/d^zE'd >,/Ezd<E/d^EzE'd >,/hE'<W<E>D
>WKZE< hE'EEWZK^W <dh^/E/͘
d/<d ZWdE 'd/s Ks EEd^zE'<ED Zh'/<E,<Ͳ,<W D 'E'K>/'^/͘
d/<&<dDd Z/>zE'D E'</d<EW Zh,E^/'E/&/<EW>//>/d^Eͬdh
W Z/<dE ^ d >, dE''> >WKZE < hE'E d Z<,/Z ^DW/ E'E dE''> >WKZE
<hEdEWh>/<͘
d/<&<dDd Z/>zE'D E'</d<EW Zh,E^/'E/&/<EW>//>/d^Eͬdh
W Z/<dE ^ d >, dE''> >WKZE <hEdE Wh>/< ^DW/ E'E dE''> & <d/&Ez
W ZEzdEW E&dZE͘
d/< W >E''ZE d^ W Z^zZdE >D W Z:E:/E <Z /d zE' /><h<E K> ,
W Z^ ZKEzE' ZDW<Dd Z/>d Z,W< >E'^hE'Eh^,W Z^ ZKE͘
d/< < >>/E d^ W DzZE WK<K< Eͬdh hE' W/E:DE ^ d >, dE''>
>WKZE< hE'Ed Z<,/Z^DW/ E'EdE''> & <d/&EzW ZEzdEW E&dZE͘
W Z^ ZKE d >, D D Eh,/ ^ Dh Z^/K < hE'E zE' /W Z^zZd<E >D W Z:E:/E
hdE'EzE'/W Z^zZd<EK> ,KdKZ/d^:^< hE'E;K:<Ϳ͘
W Z^ ZKEd/<D D/>/</>//>/d^Ͳ>//>/d^>/E^ >/EzE'd >,/Ezd<E/d^E
zE'd >,/hE'<W<E>D///WZK^W <dh^/E/͘
E'EEzW E' >K>EzE'^/^d Dd/^d^^ dE>//>/d^^ ZdW E/E'<dE,^/>
KW Z^/ / D^ zE' <E dE'͕ DE: D E W Z^ ZKE D Ezd<E < ^E''hWEEz
hEdh<WdD Ez > ^/<E^ >hZh,>//>/d^EzzE'd >,/hE'<W<E>DWZK^W <dh^
/E/^ ^h/ E'EW Z^zZdE^ '/DED ^d/Ez͘
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/s͘ /<,d/^Z< hE'EW Ed/E'
dĂďĞůĚŝďĂǁĂŚŝŶŝŵĞŶLJĂũŝŬĂŶŝŬŚƚŝƐĂƌĚĂƚĂŬĞƵĂŶŐĂŶƉĞŶƚŝŶŐĚĂƌŝWĞƌƐĞƌŽĂŶLJĂŶŐďĞƌĂƐĂůĚĂƌŝĚĂŶͬĂƚĂƵĚŝŚŝƚƵŶŐ
ďĞƌĚĂƐĂƌŬĂŶ>ĂƉŽƌĂŶ<ĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂ
ƚĂŶŐŐĂůͲƚĂŶŐŐĂůƚĞƌƐĞďƵƚ͘
>ĂƉŽƌĂŶ<ĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯ͕LJĂŶŐƚĞƌĐĂŶƚƵŵĚĂůĂŵWƌŽƐƉĞŬƚƵƐŝŶŝ͕ƚĞůĂŚ
ĚŝĂƵĚŝƚ ŽůĞŚ <ĂŶƚŽƌ ŬƵŶƚĂŶ WƵďůŝŬ ;“KAP”Ϳ WƵƌǁĂŶƚŽŶŽ͕ ^ƵŶŐŬŽƌŽ Θ ^ƵƌũĂ ďĞƌĚĂƐĂƌŬĂŶ ^ƚĂŶĚĂƌ ƵĚŝƚ LJĂŶŐ
ĚŝƚĞƚĂƉŬĂŶŽůĞŚ/ŶƐƚŝƚƵƚŬƵŶƚĂŶWƵďůŝŬ/ŶĚŽŶĞƐŝĂ;“IAPI”ͿĚĞŶŐĂŶŽƉŝŶŝƚĂŶƉĂŵŽĚŝĨŝŬĂƐŝĂŶLJĂŶŐĚŝƚĂŶĚĂƚĂŶŐĂŶŝ
ŽůĞŚ^ĂŶĚLJƚĂŶŐŐĂůϭϱDĞŝϮϬϮϱ͘
^ĞďĂŐĂŝ ĂŬŝďĂƚ ĚĂƌŝ ƉĞŵďƵůĂƚĂŶ͕ ƉĞŶLJĂũŝĂŶ ũƵŵůĂŚ ďĞďĞƌĂƉĂ ŝŶĨŽƌŵĂƐŝ ŬĞƵĂŶŐĂŶ ďĞƌŝŬƵƚ ŝŶŝ ĚĂƉĂƚ ƐĞĚŝŬŝƚ
ďĞƌďĞĚĂĚĞŶŐĂŶƉĞŶũƵŵůĂŚĂŶLJĂŶŐĚŝůĂŬƵŬĂŶƐĞĐĂƌĂĂƌŝƚŵĂƚŝŬĂ͘
>WKZEWK^/^/< hE'E
;ĂůĂŵ:ƵƚĂĂŶZƵƉŝĂŚͿ
hZ/E ϯϭĞƐĞŵďĞƌ
ϮϬϮϰ ϮϬϮϯ
^ d
<^E^ dZ<^
<ĂƐ ϭϳ͘ϯϭϰ Ϯϱ͘ϵϭϯ
ĂŶŬͲƉŝŚĂŬŬĞƚŝŐĂ ϱϮϮ͘ϰϰϵ ϱϴϮ͘ϮϮϮ
ĞƉŽƐŝƚŽďĞƌũĂŶŐŬĂͲƉŝŚĂŬŬĞƚŝŐĂ ϭ͘ϭϭϵ͘ϯϵϰ ϰϴϬ͘ϬϬϬ
dŽƚĂůŬĂƐĚĂŶƐĞƚĂƌĂŬĂƐ ϭ͘ϲϱϵ͘ϭϱϳ ϭ͘Ϭϴϴ͘ϭϯϱ
ĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝŬĂƐĚĂŶƐĞƚĂƌĂŬĂƐ ;ϮϵϵͿ ;ϮϳϮͿ
<ĂƐĚĂŶƐĞƚĂƌĂŬĂƐ–EĞƚŽ ϭ͘ϲϱϴ͘ϴϱϴ ϭ͘Ϭϴϳ͘ϴϲϯ
W/hdE'W D/zE<KE^hD E
WŝŚĂŬŬĞƚŝŐĂ
WŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ ϭϬ͘ϭϱϯ͘ϳϴϮ ϳ͘ϱϱϮ͘ϵϰϰ
WĞŶĚĂƉĂƚĂŶƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶLJĂŶŐďĞůƵŵĚŝĂŬƵŝ ;ϭ͘ϴϱϯ͘ϯϱϱͿ ;ϭ͘ϰϬϴ͘ϴϭϮͿ
WŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶͲƉŝŚĂŬŬĞƚŝŐĂ ϴ͘ϯϬϬ͘ϰϮϳ ϲ͘ϭϰϰ͘ϭϯϮ
WŝŚĂŬďĞƌĞůĂƐŝ
WŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ ϭϯ͘ϴϱϯ ϭϯ͘ϬϬϭ
WĞŶĚĂƉĂƚĂŶƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶLJĂŶŐďĞůƵŵĚŝĂŬƵŝ ;ϴϵϰͿ ;ϭ͘ϭϰϭͿ
WŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶͲƉŝŚĂŬďĞƌĞůĂƐŝ ϭϮ͘ϵϱϵ ϭϭ͘ϴϲϬ
dŽƚĂůƉŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ ϴ͘ϯϭϯ͘ϯϴϲ ϲ͘ϭϱϱ͘ϵϵϮ
ĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝƉŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ ;ϰϯϵ͘ϲϱϱͿ ;ϯϯϲ͘ϭϮϮͿ
WŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ–EĞƚŽ ϳ͘ϴϳϯ͘ϳϯϭ ϱ͘ϴϭϵ͘ϴϳϬ
W/hdE'^ tW D/zE
WŝŚĂŬŬĞƚŝŐĂ
WŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶ ϳ͘ϯϬϬ͘ϳϮϭ ϵ͘ϲϬϭ͘Ϯϴϲ
EŝůĂŝƌĞƐŝĚƵLJĂŶŐĚŝũĂŵŝŶ ϴ͘ϴϮϯ͘Ϯϲϭ ϭϯ͘ϱϲϲ͘ϴϱϮ
WĞŶĚĂƉĂƚĂŶƐĞǁĂƉĞŵďŝĂLJĂĂŶLJĂŶŐďĞůƵŵĚŝĂŬƵŝ ;ϴϭϵ͘ϮϵϲͿ ;ϭ͘ϮϮϴ͘ϴϱϬͿ
^ŝŵƉĂŶĂŶũĂŵŝŶĂŶ ;ϴ͘ϴϮϯ͘ϮϲϭͿ ;ϭϯ͘ϱϲϲ͘ϴϱϮͿ
WŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶͲƉŝŚĂŬŬĞƚŝŐĂ ϲ͘ϰϴϭ͘ϰϮϱ ϴ͘ϯϳϮ͘ϰϯϲ
WŝŚĂŬďĞƌĞůĂƐŝ
WŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶ ϭϵϵ͘ϭϳϮ ϰϴϰ͘ϴϭϳ
EŝůĂŝƌĞƐŝĚƵLJĂŶŐĚŝũĂŵŝŶ ϴϵ͘ϭϰϰ ϭϯϴ͘ϲϱϵ
WĞŶĚĂƉĂƚĂŶƐĞǁĂƉĞŵďŝĂLJĂĂŶLJĂŶŐďĞůƵŵĚŝĂŬƵŝ ;ϰ͘ϭϬϱͿ ;ϮϮ͘ϳϭϰͿ
^ŝŵƉĂŶĂŶũĂŵŝŶĂŶ ;ϴϵ͘ϭϰϰͿ ;ϭϯϴ͘ϲϱϵͿ
WŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶͲƉŝŚĂŬďĞƌĞůĂƐŝ ϭϵϱ͘Ϭϲϳ ϰϲϮ͘ϭϬϯ
dŽƚĂůƉŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶ ϲ͘ϲϳϲ͘ϰϵϮ ϴ͘ϴϯϰ͘ϱϯϵ
ĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝƉŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶ ;ϯϬϰ͘ϯϮϵͿ ;ϰϭϰ͘ϳϳϯͿ
WŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶ–EĞƚŽ ϲ͘ϯϳϮ͘ϭϲϯ ϴ͘ϰϭϵ͘ϳϲϲ
27
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;ĂůĂŵ:ƵƚĂĂŶZƵƉŝĂŚͿ
hZ/E ϯϭĞƐĞŵďĞƌ
ϮϬϮϰ ϮϬϮϯ
d'/,EE:<W/hdE'
WŝŚĂŬŬĞƚŝŐĂ
dĂŐŝŚĂŶĂŶũĂŬƉŝƵƚĂŶŐ ϱϭ͘ϴϱϳ ϰ͘ϱϵϬ
WĞŶĚĂƉĂƚĂŶĂŶũĂŬƉŝƵƚĂŶŐLJĂŶŐďĞůƵŵĚŝĂŬƵŝ ;ϲϮϲͿ ;ϱϭϲͿ
dŽƚĂůƚĂŐŝŚĂŶĂŶũĂŬƉŝƵƚĂŶŐ ϱϭ͘Ϯϯϭ ϰ͘Ϭϳϰ
ĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝƚĂŐŝŚĂŶĂŶũĂŬƉŝƵƚĂŶŐ ;ϭͿ ;ϵͿ
dĂŐŝŚĂŶĂŶũĂŬƉŝƵƚĂŶŐ–EĞƚŽ ϱϭ͘ϮϯϬ ϰ͘Ϭϲϱ
ŝĂLJĂĚŝďĂLJĂƌĚŝŵƵŬĂ ϱ͘ϵϮϮ ϱ͘ϭϮϴ
hĂŶŐŵƵŬĂ Ϯ͘ϵϲϬ ϯ͘ϰϴϰ
WŝƵƚĂŶŐůĂŝŶͲůĂŝŶͲƉŝŚĂŬŬĞƚŝŐĂ ϴϬ͘ϳϬϱ ϳϯ͘ϯϭϳ
dĂŐŝŚĂŶƉĂũĂŬ ϯϰ͘ϱϬϱ ϲ͘ϵϮϴ
WŝƵƚĂŶŐĞƌŝǀĂƚŝĨ Ϯϰϯ͘ϴϴϮ ϭϵϴ͘ϵϯϴ
ƐĞƚƉĂũĂŬƚĂŶŐŐƵŚĂŶ–EĞƚŽ ϮϬ͘ϵϲϰ ϲ͘ϵϯϬ
ƐĞƚƚĞƚĂƉ
ŝĂLJĂƉĞƌŽůĞŚĂŶ ϳϭϵ͘ϯϰϳ ϲϲϵ͘ϯϭϯ
ŬƵŵƵůĂƐŝƉĞŶLJƵƐƵƚĂŶ ;ϯϯϳ͘ϭϲϰͿ ;Ϯϵϳ͘ϲϮϳͿ
EŝůĂŝƚĞƌĐĂƚĂƚEĞƚŽ ϯϴϮ͘ϭϴϯ ϯϳϭ͘ϲϴϲ
ƐĞƚůĂŝŶͲůĂŝŶ ϰ͘ϯϱϲ ϳϱ͘ϱϬϲ
dKd>^ d ϭϲ͘ϳϯϭ͘ϰϱϵ ϭϲ͘Ϭϳϯ͘ϰϴϭ
>//>/d^E <h/d^
>//>/d^
hƚĂŶŐďĂŶŬͲEĞƚŽƉŝŚĂŬŬĞƚŝŐĂ ϵ͘ϮϬϳ͘Ϯϳϱ ϭϬ͘ϳϬϭ͘ϯϮϬ
ĞďĂŶĂŬƌƵĂů ϭϬϴ͘ϯϲϳ ϭϲϭ͘ϱϯϰ
hƚĂŶŐƉĂũĂŬ ϲ͘ϱϲϴ ϯϲ͘ϵϮϬ
hƚĂŶŐůĂŝŶͲůĂŝŶ
WŝŚĂŬŬĞƚŝŐĂ Ϯϭϭ͘ϰϲϬ ϭϲϯ͘ϴϰϳ
WŝŚĂŬďĞƌĞůĂƐŝ ϱ͘ϳϲϮ ϲ͘ϰϴϲ
dŽƚĂůƵƚĂŶŐůĂŝŶͲůĂŝŶ Ϯϭϳ͘ϮϮϮ ϭϳϬ͘ϯϯϯ
>ŝĂďŝůŝƚĂƐŝŵďĂůĂŶŬĞƌũĂŬĂƌLJĂǁĂŶ ϮϮ͘ϰϵϬ Ϯϯ͘ϭϴϰ
hƚĂŶŐŽďůŝŐĂƐŝ–EĞƚŽ ϰ͘ϯϴϲ͘ϲϭϬ Ϯ͘ϱϮϵ͘ϲϭϯ
hƚĂŶŐĚĞƌŝǀĂƚŝĨ ϯϬ͘ϳϳϬ ϭϬ͘ϭϱϭ
dKd>>//>/d^ ϭϯ͘ϵϳϵ͘ϯϬϮ ϭϯ͘ϲϯϯ͘Ϭϱϱ
ŬƵŝƚĂƐ
DŽĚĂůƐĂŚĂŵ–ŶŝůĂŝŶŽŵŝŶĂů
ZƉϭ͘ϬϬϬ͘ϬϬϬƉĞƌƐĂŚĂŵ
;ĚĂůĂŵƌƵƉŝĂŚƉĞŶƵŚͿ
DŽĚĂůĚĂƐĂƌ–Ϯ͘ϬϬϬ͘ϬϬϬƐĂŚĂŵ
DŽĚĂůĚŝƚĞŵƉĂƚŬĂŶĚĂŶĚŝƐĞƚŽƌƉĞŶƵŚ–ϭ͘ϬϰϮ͘ϬϬϬƐĂŚĂŵƉĂĚĂƚĂŚƵŶϮϬϮϯ
ĚĂŶϮϬϮϮ ϭ͘ϬϰϮ͘ϬϬϬ ϭ͘ϬϰϮ͘ϬϬϬ
dĂŵďĂŚĂŶŵŽĚĂůĚŝƐĞƚŽƌ ϭ͘ϳϴϱ ϭ͘ϳϴϱ
WĞŶŐŚĂƐŝůĂŶŬŽŵƉƌĞŚĞŶƐŝĨůĂŝŶ
<ĞƵŶƚƵŶŐĂŶĂŬƚƵĂƌŝĂůĂƚĂƐůŝĂďŝůŝƚĂƐŝŵďĂůĂŶŬĞƌũĂ–ŶĞƚŽ ϱ͘ϭϮϵ ϯ͘Ϭϴϯ
<ĞƌƵŐŝĂŶŬƵŵƵůĂƚŝĨĂƚĂƐŝŶƐƚƌƵŵĞŶĚĞƌŝǀĂƚŝĨƵŶƚƵŬůŝŶĚƵŶŐŶŝůĂŝĂƌƵƐŬĂƐͲŶĞƚŽ ;ϯϳ͘ϯϭϳͿ ;ϲ͘ϱϯϳͿ
<ĞƵŶƚƵŶŐĂŶƌĞǀĂůƵĂƐŝƚĂŶĂŚ ϳϬ͘ϰϴϴ ϳϬ͘ϰϴϴ
^ĂůĚŽůĂďĂ
dĞůĂŚĚŝƚĞŶƚƵŬĂŶƉĞŶŐŐƵŶĂĂŶŶLJĂ Ϯ͘ϯϬϬ Ϯ͘ϮϬϬ
ĞůƵŵĚŝƚĞŶƚƵŬĂŶƉĞŶŐŐƵŶĂĂŶŶLJĂ ϭ͘ϲϲϳ͘ϳϳϮ ϭ͘ϯϮϳ͘ϰϬϳ
dKd> <h/d^ Ϯ͘ϳϱϮ͘ϭϱϳ Ϯ͘ϰϰϬ͘ϰϮϲ
dKd>>//>/d^E <h/d^ ϭϲ͘ϳϯϭ͘ϰϱϵ ϭϲ͘Ϭϳϯ͘ϰϴϭ
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>WKZE>Zh'/EW E',^/>E<KDWZ , E^/&>/E
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
hZ/E ϯϭĞƐĞŵďĞƌ
ϮϬϮϰ ϮϬϮϯ
^ĞǁĂƉĞŵďŝĂLJĂĂŶ ϵϮϵ͘ϱϵϱ ϭ͘ϭϴϱ͘ϵϵϴ
WĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ ϭ͘ϭϵϯ͘ϳϰϱ ϵϬϴ͘ϯϲϰ
ŶũĂŬWŝƵƚĂŶŐ Ϯ͘Ϭϳϵ ϴ͘ϬϭϬ
WĞŶĚĂƉĂƚĂŶĚĂƌŝƉŝƵƚĂŶŐLJĂŶŐƚĞůĂŚĚŝŚĂƉƵƐŬĂŶ͕ĚĞŶĚĂŬĞƚĞƌůĂŵďĂƚĂŶĚĂŶƉŝŶĂůƚŝ ϯϱϮ͘ϬϵϬ ϮϰϮ͘ϯϰϵ
WĞŶĚĂƉĂƚĂŶďƵŶŐĂ͕ůĂďĂƉĞŶũƵĂůĂŶĂƐĞƚƚĞƚĂƉĚĂŶƉĞŶĚĂƉĂƚĂŶůĂŝŶͲůĂŝŶ ϱϱ͘ϬϮϵ ϯϳ͘ϳϳϮ
dŽƚĂůWĞŶĚĂƉĂƚĂŶ Ϯ͘ϱϯϮ͘ϱϯϴ Ϯ͘ϯϴϮ͘ϰϵϯ
ĞďĂŶƉĞŵďŝĂLJĂĂŶͲŶĞƚŽ ϵϯϱ͘ϯϮϮ ϴϬϴ͘ϲϵϭ
WĞŶLJŝƐŝŚĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝŬĂƐĚĂŶƉŝƵƚĂŶŐ ϯϯϬ͘ϭϮϴ ϱϭϲ͘ϰϰϭ
'Ăũŝ͕ƚƵŶũĂŶŐĂŶĚĂŶďĞďĂŶŬĞƐĞũĂŚƚĞƌĂĂŶŬĂƌLJĂǁĂŶ ϯϱϳ͘ϯϱϯ ϯϮϱ͘ϯϳϰ
hŵƵŵĚĂŶĂĚŵŝŶŝƐƚƌĂƐŝ Ϯϭϱ͘ϰϳϮ ϮϮϭ͘ϭϮϬ
WĞŶLJŝƐŝŚĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝůĂŝŶŶLJĂĚĂŶŬĞƌƵŐŝĂŶƉĞŶũƵĂůĂŶĂƚĂƐũĂŵŝŶĂŶ
ϭϰϱ͘ϮϬϬ ϵϯ͘ϰϳϱ
ĂƐĞƚLJĂŶŐĚŝďŝĂLJĂŝ
WĞŶLJƵƐƵƚĂŶĂƐĞƚŚĂŬŐƵŶĂ ϯϭ͘ϭϵϰ ϯϬ͘ϵϬϵ
WĞŶLJƵƐƵƚĂŶĂƐĞƚƚĞƚĂƉ Ϯϰ͘ϴϮϯ Ϯϯ͘ϭϳϬ
dŽƚĂůĞďĂŶ Ϯ͘Ϭϯϵ͘ϰϵϮ Ϯ͘Ϭϭϵ͘ϭϴϬ
>ĂďĂƐĞďĞůƵŵďĞďĂŶƉĂũĂŬĨŝŶĂůĚĂŶďĞďĂŶƉĂũĂŬƉĞŶŐŚĂƐŝůĂŶ ϰϵϯ͘Ϭϰϲ ϯϲϯ͘ϯϭϯ
ĞďĂŶƉĂũĂŬĨŝŶĂů ;ϱ͘ϮϮϮͿ ;ϭ͘ϳϴϰͿ
>ĂďĂƐĞďĞůƵŵďĞďĂŶƉĂũĂŬƉĞŶŐŚĂƐŝůĂŶ ϰϴϳ͘ϴϮϰ ϯϲϭ͘ϱϮϵ
ĞďĂŶƉĂũĂŬƉĞŶŐŚĂƐŝůĂŶͲŶĞƚŽ ;ϳϮ͘ϯϱϵͿ ;ϴϴ͘ϭϭϳͿ
>ĂďĂdĂŚƵŶĞƌũĂůĂŶ ϰϭϱ͘ϰϲϱ Ϯϳϯ͘ϰϭϮ
WĞŶŐŚĂƐŝůĂŶŬŽŵƉƌĞŚĞŶƐŝĨůĂŝŶ͗
WŽƐLJĂŶŐƚŝĚĂŬĂŬĂŶĚŝƌĞŬůĂƐŝĨŝŬĂƐŝŬĞůĂďĂƌƵŐŝ͗
<ĞƵŶƚƵŶŐĂŶĂŬƚƵĂƌŝĂůĂƚĂƐůŝĂďŝůŝƚĂƐŝŵďĂůĂŶŬĞƌũĂ Ϯ͘ϲϮϯ ϭ͘ϳϭϬ
WĂũĂŬƚĞƌŬĂŝƚ ;ϱϳϳͿ ;ϯϳϳͿ
<ĞƵŶƚƵŶŐĂŶĂŬƚƵĂƌŝĂůĂƚĂƐůŝĂďŝůŝƚĂƐŝŵďĂůĂŶŬĞƌũĂͲŶĞƚŽ Ϯ͘Ϭϰϲ ϭ͘ϯϯϯ
<ĞƵŶƚƵŶŐĂŶĂƚĂƐƌĞǀĂůƵĂƐŝĂƐĞƚƚĞƚĂƉ;ƚĂŶĂŚͿ Ͳ ϭϬ͘Ϯϭϱ
WŽƐLJĂŶŐĂŬĂŶĚŝƌĞŬůĂƐŝĨŝŬĂƐŝŬĞůĂďĂƌƵŐŝ͗
;<ĞƌƵŐŝĂŶͿŬĞƵŶƚƵŶŐĂŶĂƚĂƐůŝŶĚƵŶŐŶŝůĂŝĂƌƵƐŬĂƐ ;ϯϵ͘ϰϲϭͿ ϭϯ͘ϳϮϮ
WĂũĂŬƚĞƌŬĂŝƚ ϴ͘ϲϴϭ ;ϯ͘ϬϭϵͿ
;<ĞƌƵŐŝĂŶͿŬĞƵŶƚƵŶŐĂŶĂƚĂƐůŝŶĚƵŶŐŶŝůĂŝĂƌƵƐŬĂƐͲŶĞƚŽ ;ϯϬ͘ϳϴϬͿ ϭϬ͘ϳϬϯ
WĞŶŐŚĂƐŝůĂŶŬŽŵƉƌĞŚĞŶƐŝĨůĂŝŶͲEĞƚŽƐĞƚĞůĂŚƉĂũĂŬ ;Ϯϴ͘ϳϯϰͿ ϮϮ͘Ϯϱϭ
dŽƚĂůWĞŶŐŚĂƐŝůĂŶ<ŽŵƉƌĞŚĞŶƐŝĨdĂŚƵŶĞƌũĂůĂŶ ϯϴϲ͘ϳϯϭ Ϯϵϱ͘ϲϲϯ
>ĂďĂdĂŚƵŶĞƌũĂůĂŶƉĞƌ^ĂŚĂŵĂƐĂƌ;ĂůĂŵZƵƉŝĂŚWĞŶƵŚͿ ϯϵϴ͘ϳϭϴ ϮϲϮ͘ϯϵϮ
Z^/K< hE'EW Ed/E'
ϯϭĞƐĞŵďĞƌ
hZ/E
ϮϬϮϰ ϮϬϮϯ
ZĂƐŝŽWĞƌƚƵŵďƵŚĂŶ;йͿ
WĞŶĚĂƉĂƚĂŶ ϲ͕ϯϬ ϭ͕ϮϬ
>ĂďĂdĂŚƵŶĞƌũĂůĂŶ ϱϭ͕ϵϲ Ϯϭ͕ϵϴ
:ƵŵůĂŚƐĞƚ ϰ͕Ϭϵ ϳ͕ϭϭ
:ƵŵůĂŚ>ŝĂďŝůŝƚĂƐ Ϯ͕ϱϰ ϲ͕ϳϮ
:ƵŵůĂŚ ŬƵŝƚĂƐ ϭϮ͕ϳϳ ϵ͕ϯϱ
ZĂƐŝŽhƐĂŚĂ;йͿ
>ĂďĂ^ĞďĞůƵŵĞďĂŶWĂũĂŬWĞŶŐŚĂƐŝůĂŶͬWĞŶĚĂƉĂƚĂŶ ϭϵ͕Ϯϲ ϭϱ͕ϭϳ
WĞŶĚĂƉĂƚĂŶͬ:ƵŵůĂŚƐĞƚ ϭϱ͕ϭϰ ϭϰ͕ϴϮ
>ĂďĂdĂŚƵŶĞƌũĂůĂŶͬWĞŶĚĂƉĂƚĂŶ ϭϲ͕ϰϭ ϭϭ͕ϰϴ
/ŵďĂů,ĂƐŝůƐĞƚ Ϯ͕ϰϴ ϭ͕ϳϬ
/ŵďĂů,ĂƐŝů ŬƵŝƚĂƐ ϭϱ͕ϭϬ ϭϭ͕ϮϬ
ZĂƐŝŽ<ĞƵĂŶŐĂŶ
dŽƚĂůĂƚĂƐ ŬƵŝƚĂƐ;džͿ ϱ͕Ϭϴ ϱ͕ϱϵ
dŽƚĂůĂƚĂƐ:ƵŵůĂŚƐĞƚ;džͿ Ϭ͕ϴϰ Ϭ͕ϴϱ
'ĞĂƌŝŶŐZĂƚŝŽ;džͿ ϰ͕ϵϳ ϱ͕ϰϯ
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ϯϭĞƐĞŵďĞƌ
hZ/E
ϮϬϮϰ ϮϬϮϯ
&ŝŶĂŶĐŝŶŐƚŽƐƐĞƚZĂƚŝŽ;йͿ ϴϱ͕ϰϱ ϴϴ͕ϲϮ
ƋƵŝƚLJƚŽ&ƵůůLJWĂŝĚĂƉŝƚĂůZĂƚŝŽ;йͿ Ϯϲϰ͕ϭϮ Ϯϯϰ͕Ϯϭ
ZĂƐŝŽWĞƌŵŽĚĂůĂŶ;йͿ Ϯϴ͕Ϭϵ Ϯϱ͕ϵϮ
EŽŶͲWĞƌĨŽƌŵŝŶŐ&ŝŶĂŶĐŝŶŐ;EW&Ϳ;йͿ Ϭ͕ϴϳ Ϭ͕ϴϯ
/ŶƚĞƌĞƐƚŽǀĞƌĂŐĞZĂƚŝŽ;džͿ ϭ͕ϲϭ ϭ͕ϱϮ
Ğďƚ^ĞƌǀŝĐĞŽǀĞƌĂŐĞZĂƚŝŽ;džͿ Ϭ͕ϭϳ Ϭ͕ϭϱ
Z^/K< hE'EzE'/W Z^zZd<E>DW Z:E:/EhdE'
dŝŶŐŬĂƚWĞŵĞŶƵŚĂŶ
WĞƌƐLJĂƌĂƚĂŶZĂƐŝŽ
ZĂƐŝŽͲƌĂƐŝŽĚĂůĂŵWĞƌũĂŶũŝĂŶWŝŶũĂŵĂŶ WĞƌƐĞƌŽĂŶƉĞƌϯϭ
<ĞƵĂŶŐĂŶ
ĞƐĞŵďĞƌϮϬϮϰ
ĞďƚƚŽ ƋƵŝƚLJZĂƚŝŽ ϭϬ͗ϭ ϰ͕ϵϳ͗ϭ
dŽƚĂůEĞƚĞďƚƚŽĞƋƵŝƚLJƌĂƚŝŽ ϭϬ͗ϭ ϰ͕ϯϲ͗ϭ
EŽŶWĞƌĨŽƌŵŝŶŐƐƐĞƚͬ>ŽĂŶ ϱй Ϭ͕ϴϳй
/ŶƚĞƌĞƐƚ^ĞƌǀŝĐĞŽǀĞƌĂŐĞZĂƚŝŽ ŵŝŶ͘ϭ͕Ϯϱ͗ϭ ϭ͕ϲϭ͗ϭ
ZƚŽdŽƚĂůƐƐĞƚƐ ŵŝŶ͘ϰϬй ϴϱ͕ϰϱй
dĂŶŐŝďůĞEĞƚtŽƌƚŚ ŵŝŶZƉϭ͘ϬϬϬ͘ϬϬϬũƵƚĂ ZƉϮ͘ϳϱϮ͘ϭϱϳũƵƚĂ
WĞƌƐĞƌŽĂŶƚĞůĂŚŵĞŵĞŶƵŚŝƌĂƐŝŽŬĞƵĂŶŐĂŶLJĂŶŐĚŝƉĞƌƐLJĂƌĂƚŬĂŶĚĂůĂŵƉĞƌũĂŶũŝĂŶƵƚĂŶŐĚĂŶLJĂŶŐĚŝƉĞƌƐLJĂƌĂƚŬĂŶ
ŽůĞŚKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶ;K:<Ϳ͘
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s͘ ANALISIS DAN PEMBAHASAN OLEH MANAJEMEN
ŶĂůŝƐŝƐ ĚĂŶ WĞŵďĂŚĂƐĂŶ ŽůĞŚ DĂŶĂũĞŵĞŶ Ěŝ ďĂǁĂŚ ŝŶŝ ŵĞŶLJĂũŝŬĂŶ ŝŬŚƚŝƐĂƌ ĚĂƚĂ ŬĞƵĂŶŐĂŶ ƉĞŶƚŝŶŐ ĚĂƌŝ
WĞƌƐĞƌŽĂŶLJĂŶŐďĞƌĂƐĂůĚĂƌŝĚĂŶͬĂƚĂƵĚŝŚŝƚƵŶŐďĞƌĚĂƐĂƌŬĂŶ>ĂƉŽƌĂŶ<ĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌ
ϮϬϮϰĚĂŶϮϬϮϯƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůͲƚĂŶŐŐĂůƚĞƌƐĞďƵƚ͘
>ĂƉŽƌĂŶ<ĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯ͕LJĂŶŐƚĞƌĐĂŶƚƵŵĚĂůĂŵWƌŽƐƉĞŬƚƵƐŝŶŝ͕ƚĞůĂŚ
ĚŝĂƵĚŝƚ ŽůĞŚ <ĂŶƚŽƌ ŬƵŶƚĂŶ WƵďůŝŬ ;“KAP”Ϳ WƵƌǁĂŶƚŽŶŽ͕ ^ƵŶŐŬŽƌŽ Θ ^ƵƌũĂ ďĞƌĚĂƐĂƌŬĂŶ ^ƚĂŶĚĂƌ ƵĚŝƚ LJĂŶŐ
ĚŝƚĞƚĂƉŬĂŶŽůĞŚ/ŶƐƚŝƚƵƚŬƵŶƚĂŶWƵďůŝŬ/ŶĚŽŶĞƐŝĂ;“IAPI”ͿĚĞŶŐĂŶŽƉŝŶŝƚĂŶƉĂŵŽĚŝĨŝŬĂƐŝĂŶLJĂŶŐĚŝƚĂŶĚĂƚĂŶŐĂŶŝ
ŽůĞŚ^ĂŶĚLJƚĂŶŐŐĂůϭϱDĞŝϮϬϮϱ͘
^ĞďĂŐĂŝ ĂŬŝďĂƚ ĚĂƌŝ ƉĞŵďƵůĂƚĂŶ͕ ƉĞŶLJĂũŝĂŶ ũƵŵůĂŚ ďĞďĞƌĂƉĂ ŝŶĨŽƌŵĂƐŝ ŬĞƵĂŶŐĂŶ ďĞƌŝŬƵƚ ŝŶŝ ĚĂƉĂƚ ƐĞĚŝŬŝƚ
ďĞƌďĞĚĂĚĞŶŐĂŶƉĞŶũƵŵůĂŚĂŶLJĂŶŐĚŝůĂŬƵŬĂŶƐĞĐĂƌĂĂƌŝƚŵĂƚŝŬĂ͘
͘ hDhD
WĞƌƐĞƌŽĂŶ ĚŝĚŝƌŝŬĂŶ ĚĞŶŐĂŶ ŶĂŵĂ “PT INDOMARU MULTI FINANCE” ĚĂŶ ďĞƌŬĞĚƵĚƵŬĂŶ Ěŝ :ĂŬĂƌƚĂ dŝŵƵƌ͕
ďĞƌĚĂƐĂƌŬĂŶŬƚĂWĞƌƐĞƌŽĂŶdĞƌďĂƚĂƐWd/ŶĚŽŵĂƌƵDƵůƚŝ&ŝŶĂŶĐĞEŽ͘ϮƚĂŶŐŐĂůϭEŽƉĞŵďĞƌϭϵϵϯLJĂŶŐĚŝďƵĂƚ
ĚŝŚĂĚĂƉĂŶEƵƌƵů,ŝĚĂũĂƚŝ,ĂŶĚŽŬŽ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂĚĂŶƚĞůĂŚ͗;ŝͿŵĞŶĚĂƉĂƚŬĂŶƉĞŶŐĞƐĂŚĂŶĚĂƌŝDĞŶƚĞƌŝ
<ĞŚĂŬŝŵĂŶ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ďĞƌĚĂƐĂƌŬĂŶ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶŶLJĂ EŽ͘ ϮͲϭϰϯϲϴ͘,d͘Ϭϭ͘Ϭϭ͘d,͘ϵϯ ƚĂŶŐŐĂů
ϮϰĞƐĞŵďĞƌϭϵϵϯ͕;ŝŝͿĚŝĚĂĨƚĂƌŬĂŶƉĂĚĂƚĂŶŐŐĂůϭϭƉƌŝůϭϵϵϰĚĂůĂŵďƵŬƵƌĞŐŝƐƚĞƌƵŶƚƵŬŵĂŬƐƵĚŝƚƵLJĂŶŐďĞƌĂĚĂ
ĚŝWE:ĂŬĂƌƚĂdŝŵƵƌĚŝďĂǁĂŚEŽ͘ϭϵϭͬ>ĞŐͬϭϵϵϰ͕ĚĂŶ;ŝŝŝͿĚŝƵŵƵŵŬĂŶĚĂůĂŵdĂŵďĂŚĂŶEŽ͘ϵϲϰϬĚĂƌŝĞƌŝƚĂ
EĞŐĂƌĂ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ;“EZ/”) No. 94 tanggal 25 EŽƉĞŵďĞƌ ϭϵϵϰ ;“ŬƚĂ WĞŶĚŝƌŝĂŶ”). ^ĞůĂŶũƵƚŶLJĂ͕
ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ WĞŵĞŐĂŶŐ ^ĂŚĂŵ Wd /ŶĚŽŵĂƌƵ DƵůƚŝ &ŝŶĂŶĐĞ ^ĞďĂŐĂŝ
WĞŶŐŐĂŶƚŝZĂƉĂƚhŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵ>ƵĂƌŝĂƐĂEŽ͘ϭϭϱƚĂŶŐŐĂůϮϳWĞďƌƵĂƌŝϮϬϬϯLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ
DƵŚĂŵŵĂĚ<ŚŽůŝĚƌƚŚĂ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂĚĂŶƚĞůĂŚ;ŝͿŵĞŶĚĂƉĂƚƉĞƌƐĞƚƵũƵĂŶĚĂƌŝDĞŶƚĞƌŝ<ĞŚĂŬŝŵĂŶ
ĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚ<ĞƉƵƚƵƐĂŶEŽ͘ͲϬϲϳϳϯ,d͘Ϭϭ͘Ϭϰ͘d,͘ϮϬϬϯƚĂŶŐŐĂů
ϮϴDĂƌĞƚϮϬϬϯ͕ƐĞƌƚĂ;ŝŝͿĚŝƵŵƵŵŬĂŶĚĂůĂŵdĂŵďĂŚĂŶEŽ͘ϰϳϴϴĚĂƌŝEZ/EŽ͘ϰϴƚĂŶŐŐĂůϭϳ:ƵŶŝϮϬϬϯ͕ŶĂŵĂ
perseroan telah dirubah menjadi bernama “PT Indomobil Finance Indonesia”.
WĂĚĂ ƚĂŶŐŐĂů ĚŝƚĞƌďŝƚŬĂŶŶLJĂ WƌŽƐƉĞŬƚƵƐ ŝŶŝ͕ ŶŐŐĂƌĂŶ ĂƐĂƌ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞŶŐĂůĂŵŝ ďĞďĞƌĂƉĂ ŬĂůŝ
ƉĞƌƵďĂŚĂŶĚĞŶŐĂŶĚĞŵŝŬŝĂŶŶŐŐĂƌĂŶĂƐĂƌWĞƌƐĞƌŽĂŶƚĞƌĂŬŚŝƌĂĚĂůĂŚƐĞďĂŐĂŝŵĂŶĂƚĞƌŵĂŬƚƵď ĚĂůĂŵŬƚĂ
WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ WĞŵĞŐĂŶŐ ^ĂŚĂŵ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ ƐĞďĂŐĂŝ WĞŶŐŐĂŶƚŝ ZĂƉĂƚ
hŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵEŽ͘ϮϲƚĂŶŐŐĂůϴ:ĂŶƵĂƌŝϮϬϮϰLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶDƵŚĂŵŵĂĚ<ŚŽůŝĚ͕^͘,͕͘EŽƚĂƌŝƐ
Ěŝ :ĂŬĂƌƚĂ͕ ĚĂŶ ƚĞůĂŚ ;ŝͿ ŵĞŶĚĂƉĂƚŬĂŶ ƉĞƌƐĞƚƵũƵĂŶ ĚĂƌŝ DĞŶƚĞƌŝ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ
/ŶĚŽŶĞƐŝĂďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚ<ĞƉƵƚƵƐĂŶŶLJĂEŽ͘,hͲϬϬϬϭϱϯϭ͘,͘Ϭϭ͘ϬϮ͘dĂŚƵŶϮϬϮϰƚĂŶŐŐĂůϭϬ:ĂŶƵĂƌŝϮϬϮϰ͕;ŝŝͿ
ĚŝďĞƌŝƚĂŚƵŬĂŶŬĞƉĂĚĂĚĂŶĚŝƚĞƌŝŵĂƐĞƌƚĂĚŝĐĂƚĂƚĚĂůĂŵĂƚĂďĂƐĞ^ŝƐŵŝŶďĂŬƵŵ<ĞŵĞŶƚĞƌŝĂŶ,ƵŬƵŵĚĂŶ,ĂŬ
ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌŶLJĂƚĂ ĚĂƌŝ ^ƵƌĂƚ WĞŶĞƌŝŵĂĂŶ WĞŵďĞƌŝƚĂŚƵŶĂŶ WĞƌƵďĂŚĂŶ
ĂƚĂWĞƌƐĞƌŽĂŶEŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϬϭϬϱϭϴƚĂŶŐŐĂůϭϬ:ĂŶƵĂƌŝϮϬϮϰ͕;ŝŝŝͿĚŝĚĂĨƚĂƌŬĂŶĚĂůĂŵĂĨƚĂƌWĞƌƐĞƌŽĂŶ
EŽ͘ ,hͲϬϬϬϱϭϲϬ͘,͘Ϭϭ͘ϭϭ͘dĂŚƵŶ ϮϬϮϰ ƉĂĚĂ ƚĂŶŐŐĂů ϭϬ :ĂŶƵĂƌŝ ϮϬϮϰ ŽůĞŚ DĞŶƚĞƌŝ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ
DĂŶƵƐŝĂ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ďĞƌĚĂƐĂƌŬĂŶ <ĞƉƵƚƵƐĂŶ ZĂƉĂƚ ƚĂŶŐŐĂů ϭϯ ĞƐĞŵďĞƌ ϮϬϮϯ͕ ƚĞůĂŚ ŵĞŶLJĞƚƵũƵŝ
ƉĞƌƵďĂŚĂŶ ƌĞĚĂŬƐŝ WĂƐĂů ϯ ŶŐŐĂƌĂŶ ĂƐĂƌ WĞƌƐĞƌŽĂŶ ƚĞŶƚĂŶŐ DĂŬƐƵĚ ĚĂŶ dƵũƵĂŶ ƐĞƌƚĂ <ĞŐŝĂƚĂŶ hƐĂŚĂ
WĞƌƐĞƌŽĂŶ͕ ƵŶƚƵŬ ĚŝƐĞƐƵĂŝŬĂŶ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ <>/ ϮϬϮϬ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ ƉĞƌĂƚƵƌĂŶ ƉĞƌƵŶĚĂŶŐ
ƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͘
WĞƌƵďĂŚĂŶͲƉĞƌƵďĂŚĂŶ ƚĞƌŚĂĚĂƉ ŶŐŐĂƌĂŶ ĂƐĂƌ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ĚŝůĂŬƐĂŶĂŬĂŶ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ
ŶŐŐĂƌĂŶĂƐĂƌWĞƌƐĞƌŽĂŶĚĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͘
<ĞŐŝĂƚĂŶhƐĂŚĂďĞƌĚĂƐĂƌŬĂŶŬƚĂWĞŶĚŝƌŝĂŶ͕ƐĞƐƵĂŝŬĞƚĞŶƚƵĂŶƉĂƐĂůϯŶŐŐĂƌĂŶĂƐĂƌ͕DĂŬƐƵĚĚĂŶdƵũƵĂŶ
WĞƌƐĞƌŽĂŶ ŝĂůĂŚ͗ Ͳ ŵĞŶũĂůĂŶŬĂŶ ƵƐĂŚĂͲƵƐĂŚĂ ĚŝďŝĚĂŶŐ ĐŽŶƐƵŵĞƌƐ ĨŝŶĂŶĐĞ ĂƚĂƵ ƉĞŵďŝĂLJĂĂŶ ŬŽŶƐƵŵĞŶ LJĂŝƚƵ
ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ƉĞŵďŝĂLJĂĂŶ ƵŶƚƵŬ ƉĞŶŐĂĚĂĂŶ ďĂƌĂŶŐ ďĞƌĚĂƐĂƌŬĂŶ ŬĞďƵƚƵŚĂŶ ŬŽŶƐƵŵĞŶ ĚĞŶŐĂŶ ƐŝƐƚŝŵ
ƉĞŵďĂLJĂƌĂŶĂŶŐƐƵƌĂŶĂƚĂƵďĞƌŬĂůĂŽůĞŚŬŽŶƐƵŵĞŶ͘hŶƚƵŬŵĞŶĐĂƉĂŝŵĂŬƐƵĚƚĞƌƐĞďƵƚĚŝĂƚĂƐWĞƌƐĞƌŽĂŶĚĂƉĂƚ
ďĞŬĞƌũĂƐĂŵĂĚĞŶŐĂŶƉĞƌƵƐĂŚĂĂͲƉĞƌƵƐĂŚĂĂŶůĂŝŶŶLJĂ
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PT INDOMOBIL FINANCE INDONESIA
<ĞŐŝĂƚĂŶ hƐĂŚĂ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŶŐŐĂƌĂŶ ĂƐĂƌ ĚĂŶͬĂƚĂƵ <>/ ĂĚĂůĂŚ WĞƌƵƐĂŚĂĂŶ WĞŵďŝĂLJĂĂŶ
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ďĞŶĂƌďĞŶĂƌĚŝũĂůĂŶŬĂŶƐĂĂƚŝŶŝĂĚĂůĂŚƉĞŵďŝĂLJĂĂŶŝŶǀĞƐƚĂƐŝ͕ƉĞŵďŝĂLJĂĂŶŵŽĚĂůŬĞƌũĂ͕ƉĞŵďŝĂLJĂĂŶŵƵůƚŝŐƵŶĂ͕
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<ĞƚĞƌĂŶŐĂŶ
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ŶũĂŬƉŝƵƚĂŶŐ Ϯ͘Ϭϳϵ ϴ͘ϬϭϬ
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WĞŶĚĂƉĂƚĂŶďƵŶŐĂ͕ůĂďĂƉĞŶũƵĂůĂŶĂƐĞƚƚĞƚĂƉĚĂŶƉĞŶĚĂƉĂƚĂŶůĂŝŶͲůĂŝŶ ϱϱ͘ϬϮϵ ϯϳ͘ϳϳϮ
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ŵĞŵŝůŝŚƵŶƚƵŬŵĞůĂŬƵŬĂĂŶƉĞŶƵŶĚĂĂŶŬŽŶƐƵŵƐŝ͕ŚĂůŝŶŝŵĞƌƵƉĂŬĂŶĚĂŵƉĂŬĚĂƌŝƚĂŚƵŶƉŽůŝƚŝŬLJĂŶŐďĞƌŝŵďĂƐ
ƉĂĚĂŬĞƚŝĚĂŬƉĂƐƚŝĂŶĞŬŽŶŽŵŝ/ŶĚŽŶĞƐŝĂ͘
WĞŵďŝĂLJĂĂŶ<ŽŶƐƵŵĞŶ
WĞŶĚĂƉĂƚĂŶƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌ
ZƉϭ͘ϭϵϯ͘ϳϰϱũƵƚĂ͕LJĂŶŐŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϮϴϱ͘ϯϴϭũƵƚĂĂƚĂƵϯϭ͕ϰϮйũŝŬĂĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶ
ƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌZƉϵϬϴ͘ϯϲϰũƵƚĂ͘WĞŶŝŶŐŬĂƚĂŶƉĞŶĚĂƉĂƚĂŶŝŶŝ
ƐĞůĂƌĂƐ ĚĞŶŐĂŶ ŬŽŵƉŽƐŝƐŝ ƉŝƵƚĂŶŐ ƉĞŵďŝĂLJĂĂŶ ŬŽŶƐƵŵĞŶ WĞƌƐĞƌŽĂŶ LJĂŶŐ ũƵŐĂ ŵĞŶĐĂƚĂƚŬĂŶ ƉĞŶŝŶŐŬĂƚĂŶ
Ěŝ ƚĂŚƵŶ ϮϬϮϰ ƐĞďĂŐĂŝ ĚĂŵƉĂŬ ĚĂƌŝ ŵĞŶŝŶŐŬĂƚŶLJĂ ƉĞŵďŝĂLJĂĂŶ ďĂƌƵ WĞƌƐĞƌŽĂŶ LJĂŶŐ ƚƵŵďƵŚ ϰϳ͕ϱϱй
ĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶϮϬϮϯ͘
ŶũĂŬWŝƵƚĂŶŐ
WĞŶĚĂƉĂƚĂŶĂŶũĂŬƉŝƵƚĂŶŐWĞƌƐĞƌŽĂŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌ
ZƉϮ͘ϬϳϵũƵƚĂ͕LJĂŶŐŵĞŶŐĂůĂŵŝƉĞŶƵƌƵŶĂŶƐĞďĞƐĂƌZƉϱ͘ϵϯϭũƵƚĂĂƚĂƵϳϰ͕ϬϰйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶLJĂŶŐ
ďĞƌĂŬŚŝƌ ƉĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϯ͕ LJĂŝƚƵ ƐĞďĞƐĂƌ ZƉϴ͘ϬϭϬ ũƵƚĂ͘ tĂůĂƵƉƵŶ ƚĂŐŝŚĂŶ ĂŶũĂŬ ƉŝƵƚĂŶŐ
ŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶĚŝƚĂŚƵŶϮϬϮϰ͕ŶĂŵƵŶƉĞŶƵƌƵŶĂŶƚĞƌƐĞďƵƚŵĞƌƵƉĂŬĂŶĚĂŵƉĂŬĚĂƌŝƉĞŵďŝĂLJĂĂŶĂŶũĂŬ
ƉŝƵƚĂŶŐLJĂŶŐĚŝďƵŬƵŬĂŶƉĂĚĂƚĂŚƵŶƐĞďĞůƵŵŶLJĂĚŝŵĂŶĂƚĂŐŝŚĂŶĂŶũĂŬƉŝƵƚĂŶŐƚĂŚƵŶϮϬϮϯŵĂƐŝŚůĞďŝŚŬĞĐŝů
ĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶϮϬϮϰ͘
WĞŶĚĂƉĂƚĂŶĚĂƌŝWŝƵƚĂŶŐLJĂŶŐdĞůĂŚŝŚĂƉƵƐŬĂŶ͕ĞŶĚĂ<ĞƚĞƌůĂŵďĂƚĂŶ͕ĚĂŶĚŵŝŶŝƐƚƌĂƐŝ
:ƵŵůĂŚ ƉĞŶĚĂƉĂƚĂŶ ĚĂƌŝ ƉŝƵƚĂŶŐ LJĂŶŐ ƚĞůĂŚ ĚŝŚĂƉƵƐŬĂŶ͕ ĚĞŶĚĂ ŬĞƚĞƌůĂŵďĂƚĂŶ͕ ĚĂŶ ƉŝŶĂůƚŝ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ
ƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌZƉϯϱϮ͘ϬϵϬũƵƚĂ͕ŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶ
ƐĞďĞƐĂƌZƉϭϬϵ͘ϳϰϭũƵƚĂĂƚĂƵϰϱ͕ϮϴйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕
LJĂŝƚƵƐĞďĞƐĂƌZƉϮϰϮ͘ϯϰϵũƵƚĂ͘WĞŶŝŶŐŬĂƚĂŶƚĞƌƐĞďƵƚĚŝƐĞďĂďŬĂŶŽůĞŚƉĞŶŝŶŐŬĂƚĂŶƉĞŶĚĂƉĂƚĂŶĚĂƌŝƉŝƵƚĂŶŐLJĂŶŐ
ƚĞůĂŚĚŝŚĂƉƵƐŬĂŶƐĞďĞƐĂƌϭϭϰ͕ϭϰйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶϮϬϮϯ͘WĞŶŝŶŐŬĂƚĂŶƉĞŶĚĂƉĂƚĂŶĚĂƌŝƉŝƵƚĂŶŐLJĂŶŐ
ƚĞůĂŚĚŝŚĂƉƵƐďƵŬƵŬĂŶŵĞƌƵƉĂŬĂŶŚĂƐŝůĚĂƌŝƵƉĂLJĂŝŶƚĞŶƐŝĨĂƚĂƐƉĞŶĂŐŝŚĂŶƉŝƵƚĂŶŐLJĂŶŐƚĞůĂŚĚŝŚĂƉƵƐďƵŬƵŬĂŶ͘
,Ăů ŝŶŝ ƐĞũĂůĂŶ ĚĞŶŐĂŶ ŬĞďŝũĂŬĂŶ WĞƌƐĞƌŽĂŶ ĚĂůĂŵ ŵĞŶŝŶŐŬĂƚŬĂŶ ƉƌŽĚƵŬƚŝǀŝƚĂƐ ĚĂŶ ŝŶĨƌĂƐƚƌƵŬƚƵƌ ƉƌŽƐĞƐ
ƉĞŶĂŐŝŚĂŶƉŝƵƚĂŶŐLJĂŶŐďĞƌĚĂŵƉĂŬƉŽƐŝƚŝĨƉĂĚĂƉĞŶĚĂƉĂƚĂŶĚĂƌŝƉŝƵƚĂŶŐLJĂŶŐƚĞůĂŚĚŝŚĂƉƵƐďƵŬƵŬĂŶ͘
32
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PT INDOMOBIL FINANCE INDONESIA
WĞŶĚĂƉĂƚĂŶƵŶŐĂ͕>ĂďĂWĞŶũƵĂůĂŶƐĞƚdĞƚĂƉ͕ĚĂŶWĞŶĚĂƉĂƚĂŶ>ĂŝŶͲ>ĂŝŶ
:ƵŵůĂŚƉĞŶĚĂƉĂƚĂŶďƵŶŐĂ͕ůĂďĂƉĞŶũƵĂůĂŶĂƐĞƚƚĞƚĂƉ͕ĚĂŶƉĞŶĚĂƉĂƚĂŶůĂŝŶͲůĂŝŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂ
ƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌZƉϱϱ͘ϬϮϵũƵƚĂ͕ŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϭϳ͘ϮϱϳũƵƚĂĂƚĂƵ
ϰϱ͕ϲϴйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌZƉϯϳ͘ϳϳϮũƵƚĂ͘
WĞŶŝŶŐŬĂƚĂŶ ŝŶŝ ĚŝƐĞďĂďŬĂŶ ŽůĞŚ ŵĞŶŝŶŐŬĂƚŶLJĂ ƉĞŶĚĂƉĂƚĂŶ ďƵŶŐĂ – ƌĞŬĞŶŝŶŐ ŐŝƌŽ ĚĂŶ ĚĞƉŽƐŝƚŽ ďĞƌũĂŶŐŬĂ
ƐĞďĞƐĂƌϮϳϮ͘ϴϭйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶϮϬϮϯ͘,ĂůŝŶŝũƵŐĂƐĞũĂůĂŶĚĞŶŐĂŶƉĞŶŝŶŐŬĂƚĂŶŬĂƐĚĂŶƐĞƚĂƌĂŬĂƐ
–ŶĞƚŽWĞƌƐĞƌŽĂŶƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͘
Ϯ͘ ĞďĂŶ
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌ
<ĞƚĞƌĂŶŐĂŶ
ϮϬϮϰ ϮϬϮϯ
E
ĞďĂŶƉĞŵďŝĂLJĂĂŶͲŶĞƚŽ ϵϯϱ͘ϯϮϮ ϴϬϴ͘ϲϵϭ
WĞŶLJŝƐŝŚĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝƉŝƵƚĂŶŐ ϯϯϬ͘ϭϮϴ ϱϭϲ͘ϰϰϭ
'Ăũŝ͕ƚƵŶũĂŶŐĂŶĚĂŶďĞďĂŶŬĞƐĞũĂŚƚĞƌĂĂŶŬĂƌLJĂǁĂŶ ϯϱϳ͘ϯϱϯ ϯϮϱ͘ϯϳϰ
hŵƵŵĚĂŶĂĚŵŝŶŝƐƚƌĂƐŝ Ϯϭϱ͘ϰϳϮ ϮϮϭ͘ϭϮϬ
WĞŶLJŝƐŝŚĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝůĂŝŶŶLJĂĚĂŶŬĞƌƵŐŝĂŶƉĞŶũƵĂůĂŶĂƚĂƐũĂŵŝŶĂŶ ϭϰϱ͘ϮϬϬ ϵϯ͘ϰϳϱ
ĂƐĞƚLJĂŶŐĚŝďŝĂLJĂŝ
WĞŶLJƵƐƵƚĂŶĂƐĞƚŚĂŬŐƵŶĂ ϯϭ͘ϭϵϰ ϯϬ͘ϵϬϵ
WĞŶLJƵƐƵƚĂŶĂƐĞƚƚĞƚĂƉ Ϯϰ͘ϴϮϯ Ϯϯ͘ϭϳϬ
dŽƚĂůĞďĂŶ Ϯ͘Ϭϯϵ͘ϰϵϮ Ϯ͘Ϭϭϵ͘ϭϴϬ
ĞďĂŶWĞŵďŝĂLJĂĂŶ–ŶĞƚŽ
:ƵŵůĂŚďĞďĂŶƉĞŵďŝĂLJĂĂŶ–ŶĞƚŽWĞƌƐĞƌŽĂŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚ
ƐĞďĞƐĂƌ ZƉϵϯϱ͘ϯϮϮ ũƵƚĂ͕ LJĂŶŐ ŵĞŶŐĂůĂŵŝ ƉĞŶŝŶŐŬĂƚĂŶ ƐĞďĞƐĂƌ ZƉϭϮϲ͘ϲϯϭ ũƵƚĂ ĂƚĂƵ ϭϱ͕ϲϱй ĚŝďĂŶĚŝŶŐŬĂŶ
ĚĞŶŐĂŶ ƚĂŚƵŶ LJĂŶŐ ďĞƌĂŬŚŝƌ ƉĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϯ͕ LJĂŝƚƵ ƐĞďĞƐĂƌ ZƉϴϬϴ͘ϲϵϭ ũƵƚĂ͘ WĞŶŝŶŐŬĂƚĂŶ
ƚĞƌƐĞďƵƚƵƚĂŵĂŶLJĂĚŝƐĞďĂďŬĂŶŽůĞŚŵĞŶŝŶŐŬĂƚŶLJĂƌĂƚĂͲƌĂƚĂƐƵŬƵďƵŶŐĂƵƚĂŶŐďĂŶŬĚĂŶƉŝŶũĂŵĂŶƉŝŚĂŬŬĞƚŝŐĂ
ĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƐƵŬƵďƵŶŐĂLJĂŶŐĚŝƉĞƌŽůĞŚĚŝƚĂŚƵŶϮϬϮϯ͘,ĂůŝŶŝƐĞũĂůĂŶĚĞŶŐĂŶƉĞŶŝŶŐŬĂƚĂŶƐƵŬƵďƵŶŐĂ
ĂĐƵĂŶ ĂŶŬ /ŶĚŽŶĞƐŝĂ ;/Ϳ ƐĞďĞƐĂƌ Ϯϱ ďƉƐ ƉĂĚĂ Ɖƌŝů ϮϬϮϰ͕ ŵĞƐŬŝƉƵŶ ƉĂĚĂ ^ĞƉƚĞŵďĞƌ ϮϬϮϰ / ŬĞŵďĂůŝ
ŵĞŶƵƌƵŶŬĂŶ ƐƵŬƵ ďƵŶŐĂ ĂĐƵĂŶŶLJĂ ŶĂŵƵŶ ĚĂŵƉĂŬŶLJĂ ďĞůƵŵ ƚĞƌĂƐĂ Ěŝ ƚĂŚƵŶ ϮϬϮϰ͘ WĞƌƐĞƌŽĂŶ ŵĞŶĞƌĂƉŬĂŶ
ĚŝǀĞƌƐŝĨŝŬĂƐŝƐƵŵďĞƌƉĞŶĚĂŶĂĂŶƐĞďĂŐĂŝƐĂůĂŚƐĂƚƵƐƚƌĂƚĞŐŝĚĂůĂŵŵĞŶĞŬĂŶďĞďĂŶƉĞŵďŝĂLJĂĂŶĚĞŶŐĂŶĂůƚĞƌŶĂƚŝĨ
ƐƵŵďĞƌƉĞŶĚĂŶĂĂŶLJĂŶŐŵĞŶĂǁĂƌŬĂŶƐƵŬƵďƵŶŐĂŬŽŵƉĞƚŝƚŝĨ͘
WĞŶLJŝƐŝŚĂŶ<ĞƌƵŐŝĂŶWĞŶƵƌƵŶĂŶEŝůĂŝWŝƵƚĂŶŐ
:ƵŵůĂŚ ƉĞŶLJŝƐŝŚĂŶ ŬĞƌƵŐŝĂŶ ƉĞŶƵƌƵŶĂŶ ŶŝůĂŝ ƉŝƵƚĂŶŐ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ƚĂŚƵŶ LJĂŶŐ ďĞƌĂŬŚŝƌ ƉĂĚĂ ƚĂŶŐŐĂů
ϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌZƉϯϯϬ͘ϭϮϴũƵƚĂ͕LJĂŶŐŵĞŶŐĂůĂŵŝƉĞŶƵƌƵŶĂŶƐĞďĞƐĂƌZƉϭϴϲ͘ϯϭϯũƵƚĂĂƚĂƵ
ϯϲ͕ϭйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌZƉϱϭϲ͘ϰϰϭũƵƚĂ͘
WĞŶƵƌƵŶĂŶŝŶŝƐĞũĂůĂŶĚĞŶŐĂŶŬƵĂůŝƚĂƐƉŝƵƚĂŶŐLJĂŶŐƚĞƌĐĞƌŵŝŶĚĂƌŝƌĂƐŝŽEW&ƉĞƌƐĞƌŽĂŶLJĂŶŐƚĞƌũĂŐĂĚŝďĂǁĂŚ
ϭй͘
'Ăũŝ͕dƵŶũĂŶŐĂŶĚĂŶĞďĂŶ<ĞƐĞũĂŚƚĞƌĂĂŶ<ĂƌLJĂǁĂŶ
:ƵŵůĂŚďĞďĂŶŐĂũŝ͕ƚƵŶũĂŶŐĂŶĚĂŶďĞďĂŶŬĞƐĞũĂŚƚĞƌĂĂŶŬĂƌLJĂǁĂŶWĞƌƐĞƌŽĂŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂ
ƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌZƉϯϱϳ͘ϯϱϯũƵƚĂ͕LJĂŶŐŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϯϭ͘ϵϳϵũƵƚĂ
ĂƚĂƵϵ͕ϴйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌZƉϯϮϱ͘ϯϳϰ
ũƵƚĂ͘ WĞŶŝŶŐŬĂƚĂŶ ƚĞƌƐĞďƵƚ ĚŝƐĞďĂďŬĂŶ ŽůĞŚ ƉĞŶŝŶŐŬĂƚĂŶ ďĞďĂŶ ŐĂũŝ ŝŶŝ ƐĞŝƌŝŶŐ ĚĞŶŐĂŶ ƉĞŶŝŶŐŬĂƚĂŶ ũƵŵůĂŚ
ƚĞŶĂŐĂŬĞƌũĂLJĂŶŐŵĞŶŝŶŐŬĂƚϱ͘ϭϵйĚĂƌŝϯ͘ϴϯϲƉĂĚĂĞƐĞŵďĞƌϮϬϮϯŵĞŶũĂĚŝϰ͘ϬϯϱŬĂƌLJĂǁĂŶƉĂĚĂĞƐĞŵďĞƌ
ϮϬϮϰ͘^ĞůĂŝŶŝƚƵ͕ƉĞŶŝŶŐŬĂƚĂŶŝŶŝũƵŐĂƐĞůĂƌĂƐĚĞŶŐĂŶŬĞďŝũĂŬĂŶWĞƌƐĞƌŽĂŶƵŶƚƵŬŵĞŶŝŶŐŬĂƚŬĂŶŬĞƐĞũĂŚƚĞƌĂĂŶ
ĚĂŶŐĂũŝŬĂƌLJĂǁĂŶ͘
hŵƵŵĚĂŶĚŵŝŶŝƐƚƌĂƐŝ
:ƵŵůĂŚďĞďĂŶƵŵƵŵĚĂŶĂĚŵŝŶŝƐƚƌĂƐŝWĞƌƐĞƌŽĂŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ
ĂĚĂůĂŚƐĞďĞƐĂƌZƉϮϭϱ͘ϰϳϮ ũƵƚĂ͕ LJĂŶŐ ŵĞŶŐĂůĂŵŝƉĞŶƵƌƵŶĂŶ ƐĞďĞƐĂƌZƉϱ͘ϲϰϴ ũƵƚĂ ĂƚĂƵ Ϯ͕ϱϱйĚŝďĂŶĚŝŶŐŬĂŶ
ĚĞŶŐĂŶ ƚĂŚƵŶ LJĂŶŐ ďĞƌĂŬŚŝƌ ƉĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϯ͕LJĂŝƚƵ ƐĞďĞƐĂƌ ZƉϮϮϭ͘ϭϮϬ ũƵƚĂ͘ WĞŶƵƌƵŶĂŶ ŝŶŝ
ƵƚĂŵĂŶLJĂĚĂƌŝďŝĂLJĂƉĞŵĂƐĂƌĂŶĚĂŶƉĞƌũĂůĂŶĂŶ͘,ĂůŝŶŝƐĞũĂůĂŶĚĞŶŐĂŶƐƚƌĂƚĞŐŝWĞƌƐĞƌŽĂŶĚĂůĂŵŚĂůĞĨŝƐŝĞŶƐŝ
ĚĂŶŵĞŶŐŽƉƚŝŵĂůŬĂŶƉĞŵĂŶĨĂĂƚĂŶĐŚĂŶŶĞůĚŝŐŝƚĂů͘
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WĞŶLJŝƐŝŚĂŶ<ĞƌƵŐŝĂŶWĞŶƵƌƵŶĂŶEŝůĂŝ>ĂŝŶŶLJĂĚĂŶ<ĞƌƵŐŝĂŶWĞŶũƵĂůĂŶƚĂƐ:ĂŵŝŶĂŶƐĞƚLJĂŶŐŝďŝĂLJĂŝ
:ƵŵůĂŚ ƉĞŶLJŝƐŝŚĂŶ ŬĞƌƵŐŝĂŶ ƉĞŶƵƌƵŶĂŶ ŶŝůĂŝ ůĂŝŶŶLJĂĚĂŶ ŬĞƌƵŐŝĂŶ ƉĞŶũƵĂůĂŶĂƚĂƐ ũĂŵŝŶĂŶ ĂƐĞƚ LJĂŶŐ ĚŝďŝĂLJĂŝ
WĞƌƐĞƌŽĂŶƵŶƚƵŬ ƚĂŚƵŶ LJĂŶŐ ďĞƌĂŬŚŝƌ ƉĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ ĂĚĂůĂŚƐĞďĞƐĂƌZƉϭϰϱ͘ϮϬϬ ũƵƚĂ͕LJĂŶŐ
ŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶ ƐĞďĞƐĂƌZƉϱϭ͘ϳϮϱ ũƵƚĂĂƚĂƵϱϱ͕ϯϯйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶ ƚĂŚƵŶ LJĂŶŐ ďĞƌĂŬŚŝƌ ƉĂĚĂ
ƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌZƉϵϯ͘ϰϳϱũƵƚĂ͘WĞŶŝŶŐŬĂƚĂŶŝŶŝĚŝƐĞďĂďŬĂŶŽůĞŚƉĞŶŝŶŐŬĂƚĂŶŬĞƌƵŐŝĂŶ
ŚĂƌŐĂũƵĂůĂƚĂƐũĂŵŝŶĂŶĂƐĞƚLJĂŶŐĚŝďŝĂLJĂŝ͘
WĞŶLJƵƐƵƚĂŶƐĞƚ,ĂŬ'ƵŶĂ
WĞŶLJƵƐƵƚĂŶĂƐĞƚŚĂŬŐƵŶĂƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌZƉϯϭ͘ϭϵϰ
ũƵƚĂ͕LJĂŶŐŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶ ƐĞďĞƐĂƌZƉϮϴϱ ũƵƚĂĂƚĂƵϬ͕ϵϮйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶ ƚĂŚƵŶ LJĂŶŐ ďĞƌĂŬŚŝƌ
ƉĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϯ͕LJĂŝƚƵ ƐĞďĞƐĂƌ ZƉϯϬ͘ϵϬϵ ũƵƚĂ͘ WĞŶŝŶŐŬĂƚĂŶ ŝŶŝ ƐĞũĂůĂŶ ĚĞŶŐĂŶ ƉĞŶŝŶŐŬĂƚĂŶ
ďĞďĂŶ ƐĞǁĂ Ěŝ ƚĂŚƵŶ ϮϬϮϰ ƐĞďĞƐĂƌ ZƉϲϲ ũƵƚĂ ĂƚĂƵ Ϯ͘ϮϬй ĚŝďĂŶĚŝŶŐŬĂŶ ĚĞŶŐĂŶ ƚĂŚƵŶ ϮϬϮϯ͘
WĞŶLJƵƐƵƚĂŶƐĞƚdĞƚĂƉ
WĞŶLJƵƐƵƚĂŶĂƐĞƚƚĞƚĂƉƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌZƉϮϰ͘ϴϮϯũƵƚĂ͕
LJĂŶŐŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϭ͘ϲϱϯũƵƚĂĂƚĂƵϳ͕ϭϯйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂ
ƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌZƉϮϯ͘ϭϳϬũƵƚĂ͘WĞŶŝŶŐŬĂƚĂŶŝŶŝƐĞũĂůĂŶĚĞŶŐĂŶƉĞŶŝŶŐŬĂƚĂŶĂƐĞƚƚĞƚĂƉ
LJĂŶŐĚŝĐĂƚĂƚŬĂŶŽůĞŚWĞƌƐĞƌŽĂŶƉĂĚĂƚĂŚƵŶϮϬϮϰ͘
ϯ͘ >ĂďĂdĂŚƵŶĞƌũĂůĂŶ
:ƵŵůĂŚůĂďĂƚĂŚƵŶďĞƌũĂůĂŶWĞƌƐĞƌŽĂŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌ
ZƉϰϭϱ͘ϰϲϱũƵƚĂ͕LJĂŶŐŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϭϰϮ͘ϬϱϯũƵƚĂĂƚĂƵϱϭ͕ϵϲйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶ
LJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌZƉϮϳϯ͘ϰϭϮũƵƚĂ͘WĞŶŝŶŐŬĂƚĂŶƚĞƌƐĞďƵƚĚŝƐĞďĂďŬĂŶ
ŽůĞŚ ƉĞŶŝŶŐŬĂƚĂŶ ƉĞŶĚĂƉĂƚĂŶ Ěŝ ƚĂŚƵŶ ϮϬϮϰ ŵĞŶũĂĚŝ ƐĞďĞƐĂƌ ZƉϮ͘ϱϯϮ͘ϱϯϴ ũƵƚĂ ĚŝďĂŶĚŝŶŐŬĂŶ ĚĞŶŐĂŶ ƚĂŚƵŶ
ϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌZƉϮ͘ϯϴϮ͘ϰϵϯũƵƚĂ͘
ϰ͘ WĞŶŐŚĂƐŝůĂŶ<ŽŵƉƌĞŚĞŶƐŝĨ>ĂŝŶ–EĞƚŽ^ĞƚĞůĂŚWĂũĂŬ
WĞŶŐŚĂƐŝůĂŶ ;<ĞƌƵŐŝĂŶͿ <ŽŵƉƌĞŚĞŶƐŝĨ >ĂŝŶ – EĞƚŽ ^ĞƚĞůĂŚ WĂũĂŬ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ƚĂŚƵŶ LJĂŶŐ ďĞƌĂŬŚŝƌ ƉĂĚĂ
ƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌŵŝŶƵƐZƉϮϴ͘ϳϯϰũƵƚĂ͕LJĂŶŐŵĞŶŐĂůĂŵŝƉĞŶƵƌƵŶĂŶƐĞďĞƐĂƌZƉϱϬ͘ϵϴϱ
ũƵƚĂĂƚĂƵϮϮϵ͕ϭϯйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶ ƚĂŚƵŶ LJĂŶŐ ďĞƌĂŬŚŝƌ ƉĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϯ͕LJĂŝƚƵ ƐĞďĞƐĂƌ
ZƉϮϮ͘ϮϱϭũƵƚĂ͘WĞŶƵƌƵŶĂŶƚĞƌƐĞďƵƚĚŝƐĞďĂďŬĂŶŽůĞŚƉĞŶƵƌƵŶĂŶŬĞƵŶƚƵŶŐĂŶĂƚĂƐůŝŶĚƵŶŐŶŝůĂŝĂƌƵƐŬĂƐ –ŶĞƚŽ
ƉĂĚĂƚĂŚƵŶϮϬϮϰƐĞďĞƐĂƌZƉϰϭ͘ϰϴϯũƵƚĂĂƚĂƵϯϴϳ͕ϱϴйũŝŬĂĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶϮϬϮϯ͘
ϱ͘ dŽƚĂůWĞŶŐŚĂƐŝůĂŶ<ŽŵƉƌĞŚĞŶƐŝĨdĂŚƵŶĞƌũĂůĂŶ
:ƵŵůĂŚůĂďĂŬŽŵƉƌĞŚĞŶƐŝĨƚĂŚƵŶďĞƌũĂůĂŶWĞƌƐĞƌŽĂŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ
ĂĚĂůĂŚƐĞďĞƐĂƌZƉϯϴϲ͘ϳϯϭũƵƚĂ͕LJĂŶŐŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϵϭ͘ϬϲϴũƵƚĂĂƚĂƵϯϬ͕ϴйĚŝďĂŶĚŝŶŐŬĂŶ
ĚĞŶŐĂŶ ƚĂŚƵŶ LJĂŶŐ ďĞƌĂŬŚŝƌ ƉĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϯ͕ LJĂŝƚƵ ƐĞďĞƐĂƌ ZƉϮϵϱ͘ϲϲϯ ũƵƚĂ͘ WĞŶŝŶŐŬĂƚĂŶ
ƚĞƌƐĞďƵƚĚŝƐĞďĂďŬĂŶŽůĞŚƉĞŶŝŶŐŬĂƚĂŶůĂďĂƚĂŚƵŶďĞƌũĂůĂŶLJĂŶŐĚŝĐĂƚĂƚŬĂŶWĞƌƐĞƌŽĂŶĚŝƚĂŚƵŶϮϬϮϰ͘
͘ E>/^/^E Z< hE'E
ϭ͘ dŽƚĂůƐĞƚ
;ĂůĂŵ:ƵƚĂĂŶZƵƉŝĂŚͿ
hZ/E ϯϭĞƐĞŵďĞƌ
ϮϬϮϰ ϮϬϮϯ
^ d
<^E^ dZ<^
<ĂƐ ϭϳ͘ϯϭϰ Ϯϱ͘ϵϭϯ
ĂŶŬͲƉŝŚĂŬŬĞƚŝŐĂ ϱϮϮ͘ϰϰϵ ϱϴϮ͘ϮϮϮ
ĞƉŽƐŝƚŽďĞƌũĂŶŐŬĂͲƉŝŚĂŬŬĞƚŝŐĂ ϭ͘ϭϭϵ͘ϯϵϰ ϰϴϬ͘ϬϬϬ
dŽƚĂůŬĂƐĚĂŶƐĞƚĂƌĂŬĂƐ ϭ͘ϲϱϵ͘ϭϱϳ ϭ͘Ϭϴϴ͘ϭϯϱ
ĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝŬĂƐĚĂŶƐĞƚĂƌĂŬĂƐ ;ϮϵϵͿ ;ϮϳϮͿ
<ĂƐĚĂŶƐĞƚĂƌĂŬĂƐ–EĞƚŽ ϭ͘ϲϱϴ͘ϴϱϴ ϭ͘Ϭϴϳ͘ϴϲϯ
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;ĂůĂŵ:ƵƚĂĂŶZƵƉŝĂŚͿ
hZ/E ϯϭĞƐĞŵďĞƌ
ϮϬϮϰ ϮϬϮϯ
W/hdE'W D/zE<KE^hD E
WŝŚĂŬŬĞƚŝŐĂ
WŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ ϭϬ͘ϭϱϯ͘ϳϴϮ ϳ͘ϱϱϮ͘ϵϰϰ
WĞŶĚĂƉĂƚĂŶƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶLJĂŶŐďĞůƵŵĚŝĂŬƵŝ ;ϭ͘ϴϱϯ͘ϯϱϱͿ ;ϭ͘ϰϬϴ͘ϴϭϮͿ
WŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶͲƉŝŚĂŬŬĞƚŝŐĂ ϴ͘ϯϬϬ͘ϰϮϳ ϲ͘ϭϰϰ͘ϭϯϮ
WŝŚĂŬďĞƌĞůĂƐŝ
WŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ ϭϯ͘ϴϱϯ ϭϯ͘ϬϬϭ
WĞŶĚĂƉĂƚĂŶƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶLJĂŶŐďĞůƵŵĚŝĂŬƵŝ ;ϴϵϰͿ ;ϭ͘ϭϰϭͿ
WŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶͲƉŝŚĂŬďĞƌĞůĂƐŝ ϭϮ͘ϵϱϵ ϭϭ͘ϴϲϬ
dŽƚĂůƉŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ ϴ͘ϯϭϯ͘ϯϴϲ ϲ͘ϭϱϱ͘ϵϵϮ
ĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝƉŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ ;ϰϯϵ͘ϲϱϱͿ ;ϯϯϲ͘ϭϮϮͿ
WŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ–EĞƚŽ ϳ͘ϴϳϯ͘ϳϯϭ ϱ͘ϴϭϵ͘ϴϳϬ
W/hdE'^ tW D/zE
WŝŚĂŬŬĞƚŝŐĂ
WŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶ ϳ͘ϯϬϬ͘ϳϮϭ ϵ͘ϲϬϭ͘Ϯϴϲ
EŝůĂŝƌĞƐŝĚƵLJĂŶŐĚŝũĂŵŝŶ ϴ͘ϴϮϯ͘Ϯϲϭ ϭϯ͘ϱϲϲ͘ϴϱϮ
WĞŶĚĂƉĂƚĂŶƐĞǁĂƉĞŵďŝĂLJĂĂŶLJĂŶŐďĞůƵŵĚŝĂŬƵŝ ;ϴϭϵ͘ϮϵϲͿ ;ϭ͘ϮϮϴ͘ϴϱϬͿ
^ŝŵƉĂŶĂŶũĂŵŝŶĂŶ ;ϴ͘ϴϮϯ͘ϮϲϭͿ ;ϭϯ͘ϱϲϲ͘ϴϱϮͿ
WŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶͲƉŝŚĂŬŬĞƚŝŐĂ ϲ͘ϰϴϭ͘ϰϮϱ ϴ͘ϯϳϮ͘ϰϯϲ
WŝŚĂŬďĞƌĞůĂƐŝ
WŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶ ϭϵϵ͘ϭϳϮ ϰϴϰ͘ϴϭϳ
EŝůĂŝƌĞƐŝĚƵLJĂŶŐĚŝũĂŵŝŶ ϴϵ͘ϭϰϰ ϭϯϴ͘ϲϱϵ
WĞŶĚĂƉĂƚĂŶƐĞǁĂƉĞŵďŝĂLJĂĂŶLJĂŶŐďĞůƵŵĚŝĂŬƵŝ ;ϰ͘ϭϬϱͿ ;ϮϮ͘ϳϭϰͿ
^ŝŵƉĂŶĂŶũĂŵŝŶĂŶ ;ϴϵ͘ϭϰϰͿ ;ϭϯϴ͘ϲϱϵͿ
WŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶͲƉŝŚĂŬďĞƌĞůĂƐŝ ϭϵϱ͘Ϭϲϳ ϰϲϮ͘ϭϬϯ
dŽƚĂůƉŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶ ϲ͘ϲϳϲ͘ϰϵϮ ϴ͘ϴϯϰ͘ϱϯϵ
ĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝƉŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶ ;ϯϬϰ͘ϯϮϵͿ ;ϰϭϰ͘ϳϳϯͿ
WŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶ–EĞƚŽ ϲ͘ϯϳϮ͘ϭϲϯ ϴ͘ϰϭϵ͘ϳϲϲ
d'/,EE:<W/hdE'
WŝŚĂŬŬĞƚŝŐĂ
dĂŐŝŚĂŶĂŶũĂŬƉŝƵƚĂŶŐ ϱϭ͘ϴϱϳ ϰ͘ϱϵϬ
WĞŶĚĂƉĂƚĂŶĂŶũĂŬƉŝƵƚĂŶŐLJĂŶŐďĞůƵŵĚŝĂŬƵŝ ;ϲϮϲͿ ;ϱϭϲͿ
dŽƚĂůƚĂŐŝŚĂŶĂŶũĂŬƉŝƵƚĂŶŐ ϱϭ͘Ϯϯϭ ϰ͘Ϭϳϰ
ĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝƚĂŐŝŚĂŶĂŶũĂŬƉŝƵƚĂŶŐ ;ϭͿ ;ϵͿ
dĂŐŝŚĂŶĂŶũĂŬƉŝƵƚĂŶŐ–EĞƚŽ ϱϭ͘ϮϯϬ ϰ͘Ϭϲϱ
ŝĂLJĂĚŝďĂLJĂƌĚŝŵƵŬĂ ϱ͘ϵϮϮ ϱ͘ϭϮϴ
hĂŶŐŵƵŬĂ Ϯ͘ϵϲϬ ϯ͘ϰϴϰ
WŝƵƚĂŶŐůĂŝŶͲůĂŝŶͲƉŝŚĂŬŬĞƚŝŐĂ ϴϬ͘ϳϬϱ ϳϯ͘ϯϭϳ
dĂŐŝŚĂŶƉĂũĂŬ ϯϰ͘ϱϬϱ ϲ͘ϵϮϴ
WŝƵƚĂŶŐĞƌŝǀĂƚŝĨ Ϯϰϯ͘ϴϴϮ ϭϵϴ͘ϵϯϴ
ƐĞƚƉĂũĂŬƚĂŶŐŐƵŚĂŶ–EĞƚŽ ϮϬ͘ϵϲϰ ϲ͘ϵϯϬ
ƐĞƚƚĞƚĂƉ
ŝĂLJĂƉĞƌŽůĞŚĂŶ ϳϭϵ͘ϯϰϳ ϲϲϵ͘ϯϭϯ
ŬƵŵƵůĂƐŝƉĞŶLJƵƐƵƚĂŶ ;ϯϯϳ͘ϭϲϰͿ ;Ϯϵϳ͘ϲϮϳͿ
EŝůĂŝƚĞƌĐĂƚĂƚEĞƚŽ ϯϴϮ͘ϭϴϯ ϯϳϭ͘ϲϴϲ
ƐĞƚůĂŝŶͲůĂŝŶ ϰ͘ϯϱϲ ϳϱ͘ϱϬϲ
dKd>^ d ϭϲ͘ϳϯϭ͘ϰϱϵ ϭϲ͘Ϭϳϯ͘ϰϴϭ
dŽƚĂůƐĞƚ
:ƵŵůĂŚ ĂƐĞƚ WĞƌƐĞƌŽĂŶ ƉĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ ĂĚĂůĂŚ ƐĞďĞƐĂƌ ZƉϭϲ͘ϳϯϭ͘ϰϱϵ ũƵƚĂ͕ LJĂŶŐ ŵĞŶŐĂůĂŵŝ
ƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϲϱϳ͘ϵϳϴũƵƚĂĂƚĂƵϰ͕ϬϵйĚŝďĂŶĚŝŶŐŬĂŶƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌ
ZƉϭϲ͘Ϭϳϯ͘ϰϴϭũƵƚĂ͘<ŽŶƚƌŝďƵƐŝƚĞƌďĞƐĂƌĚĂƌŝƉĞŶŝŶŐŬĂƚĂŶĂƐƐĞƚĚŝƐĞďĂďŬĂŶŽůĞŚƉĞŶŝŶŐŬĂƚĂŶũƵŵůĂŚĂƐĞƚůĂŶĐĂƌ
WĞƌƐĞƌŽĂŶƐĞďĞƐĂƌZƉϲϴϮ͘ϰϮϯũƵƚĂĂƚĂƵϴ͕ϮϳйĚĂƌŝZƉϴ͘ϮϱϮ͘ϭϳϯũƵƚĂƉĂĚĂƚĂŚƵŶϮϬϮϰŵĞŶũĂĚŝZƉϴ͘ϵϯϰ͘ϱϵϲũƵƚĂ͘
WĞŶŝŶŐŬĂƚĂŶĂƐĞƚůĂŶĐĂƌĚŝƐĞďĂďŬĂŶŽůĞŚƉĞŶŝŶŐŬĂƚĂŶƉŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶĚĂŶŬĂƐĚĂŶƐĞƚĂƌĂŬĂƐ–
ŶĞƚŽ LJĂŶŐ ƚĞƌũĂĚŝ ƉĂĚĂ ƚĂŚƵŶ ϮϬϮϰ ĚŝďĂŶĚŝŶŐŬĂŶ ĚĞŶŐĂŶ ϮϬϮϯ͘ WĂĚĂ ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ĂƐĞƚ ƚŝĚĂŬ ůĂŶĐĂƌ
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PT INDOMOBIL FINANCE INDONESIA
ƐĞďĞƐĂƌZƉϳ͘ϳϵϲ͘ϴϲϯũƵƚĂŵĞŶŐĂůĂŵŝƐĞĚŝŬŝƚƉĞƌůĂŵďĂƚĂŶƐĞďĞƐĂƌZƉϮϰ͘ϰϰϱũƵƚĂĂƚĂƵϬ͕ϯϭйĚĂƌŝZƉϳ͘ϴϮϭ͘ϯϬϴ
ũƵƚĂĚŝƐĞďĂďŬĂŶŽůĞŚƉĞůƵŶĂƐĂŶĂŶŐƐƵƌĂŶĂƚĂƐƉŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶ͘
WŝƵƚĂŶŐWĞŵďŝĂLJĂĂŶ<ŽŶƐƵŵĞŶ
:ƵŵůĂŚƉŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶŶĞƚŽƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌZƉϳ͘ϴϳϯ͘ϳϯϭũƵƚĂ͕
LJĂŶŐŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϮ͘Ϭϱϯ͘ϴϲϭũƵƚĂĂƚĂƵϯϱ͕ϮϵйĚŝďĂŶĚŝŶŐŬĂŶƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌ
ϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌZƉϱ͘ϴϭϵ͘ϴϳϬũƵƚĂ͘WĞŶŝŶŐŬĂƚĂŶƚĞƌƐĞďƵƚƐĞũĂůĂŶĚĞŶŐĂŶŵĞŶŝŶŐŬĂƚŶLJĂƉĞŵďŝĂLJĂĂŶďĂƌƵ
WĞƌƐĞƌŽĂŶLJĂŶŐƚƵŵďƵŚϰϳ͕ϱϱйĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶϮϬϮϯ͘
WŝƵƚĂŶŐ^ĞǁĂWĞŵďŝĂLJĂĂŶ
:ƵŵůĂŚƉŝƵƚĂŶŐƐĞǁĂƉĞŵďŝĂLJĂĂŶŶĞƚŽƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌZƉϲ͘ϯϳϮ͘ϭϲϯũƵƚĂ͕LJĂŶŐ
ŵĞŶŐĂůĂŵŝƉĞŶƵƌƵŶĂŶƐĞďĞƐĂƌZƉϮ͘Ϭϰϳ͘ϲϬϯũƵƚĂĂƚĂƵͲϮϰ͕ϯйĚŝďĂŶĚŝŶŐŬĂŶƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕
LJĂŝƚƵƐĞďĞƐĂƌZƉϴ͘ϰϭϵ͘ϳϲϲũƵƚĂ͘WĞŶƵƌƵŶĂŶƚĞƌƐĞďƵƚĚŝƐĞďĂďŬĂŶŽůĞŚƉĞůƵŶĂƐĂŶĂŶŐƐƵƌĂŶĂƚĂƐƉŝƵƚĂŶŐƐĞǁĂ
ƉĞŵďŝĂLJĂĂŶĚĂŶƉĞŶƵƌƵŶĂŶƉĞŵďŝĂLJĂĂŶďĂƌƵƉĂĚĂƐĞŐŵĞŶŬĞŶĚĂƌĂĂŶŶŽŶƉĞŶƵŵƉĂŶŐ͘
dĂŐŝŚĂŶŶũĂŬWŝƵƚĂŶŐ
:ƵŵůĂŚƚĂŐŝŚĂŶĂŶũĂŬƉŝƵƚĂŶŐƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌZƉϱϭ͘ϮϯϬũƵƚĂ͕LJĂŶŐŵĞŶŐĂůĂŵŝ
ƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϰϳ͘ϭϲϱũƵƚĂĂƚĂƵϭ͘ϭϲϬ͕ϯйĚŝďĂŶĚŝŶŐŬĂŶƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌ
ZƉϰ͘Ϭϲϱ ũƵƚĂ͘ WĞŶŝŶŐŬĂƚĂŶ ƚĞƌƐĞďƵƚ ĚŝƐĞďĂďŬĂŶ ŽůĞŚ ƌĞĂůŝƐĂƐŝ ƉĞŶŝŶŐŬĂƚĂŶ ƉĞŵďŝĂLJĂĂŶ ďĂƌƵ ƚĂŐŝŚĂŶ ĂŶũĂŬ
ƉŝƵƚĂŶŐĚŝƚĂŚƵŶϮϬϮϰ͘
Ϯ͘ >ŝĂďŝůŝƚĂƐ
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌ
hZ/E
ϮϬϮϰ ϮϬϮϯ
>//>/d^
hƚĂŶŐďĂŶŬͲEĞƚŽƉŝŚĂŬŬĞƚŝŐĂ ϵ͘ϮϬϳ͘Ϯϳϱ ϭϬ͘ϳϬϭ͘ϯϮϬ
ĞďĂŶĂŬƌƵĂů ϭϬϴ͘ϯϲϳ ϭϲϭ͘ϱϯϰ
hƚĂŶŐƉĂũĂŬ ϲ͘ϱϲϴ ϯϲ͘ϵϮϬ
hƚĂŶŐůĂŝŶͲůĂŝŶ
WŝŚĂŬŬĞƚŝŐĂ Ϯϭϭ͘ϰϲϬ ϭϲϯ͘ϴϰϳ
WŝŚĂŬďĞƌĞůĂƐŝ ϱ͘ϳϲϮ ϲ͘ϰϴϲ
dŽƚĂůƵƚĂŶŐůĂŝŶͲůĂŝŶ Ϯϭϳ͘ϮϮϮ ϭϳϬ͘ϯϯϯ
>ŝĂďŝůŝƚĂƐŝŵďĂůĂŶŬĞƌũĂŬĂƌLJĂǁĂŶ ϮϮ͘ϰϵϬ Ϯϯ͘ϭϴϰ
hƚĂŶŐŽďůŝŐĂƐŝ–EĞƚŽ ϰ͘ϯϴϲ͘ϲϭϬ Ϯ͘ϱϮϵ͘ϲϭϯ
hƚĂŶŐĚĞƌŝǀĂƚŝĨ ϯϬ͘ϳϳϬ ϭϬ͘ϭϱϭ
dKd>>//>/d^ ϭϯ͘ϵϳϵ͘ϯϬϮ ϭϯ͘ϲϯϯ͘Ϭϱϱ
dŽƚĂů>ŝĂďŝůŝƚĂƐ
WĂĚĂƚĂŚƵŶϮϬϮϰ͕ũƵŵůĂŚůŝĂďŝůŝƚĂƐWĞƌƐĞƌŽĂŶƐĞďĞƐĂƌZƉϭϯ͘ϵϳϵ͘ϯϬϮũƵƚĂŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶZƉϯϰϲ͘ϮϰϳũƵƚĂ
ĂƚĂƵϮ͕ϱϯйĚĂƌŝZƉϭϯ͘ϲϯϯ͘ϬϱϱũƵƚĂƉĂĚĂƚĂŚƵŶϮϬϮϯ͘WĞŶĞƌďŝƚĂŶŽďůŝŐĂƐŝŵĞƌƵƉĂŬĂŶŬŽŶƚƌŝďƵƚŽƌƚĞƌďĞƐĂƌĚĂůĂŵ
ƉĞŶŝŶŐŬĂƚĂŶůŝĂďŝůŝƚĂƐWĞƌƐĞƌŽĂŶƉĂĚĂƚĂŚƵŶϮϬϮϰĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶϮϬϮϯďĂŝŬůŝĂďŝůŝƚĂƐũĂŶŐŬĂƉĞŶĚĞŬ
ĚĂŶũĂŶŐŬĂƉĂŶũĂŶŐ͘WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ũƵŵůĂŚůŝĂďŝůŝƚĂƐũĂŶŐŬĂƉĞŶĚĞŬƐĞďĞƐĂƌZƉϳ͘ϱϰϵ͘ϲϱϯũƵƚĂ
ŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϴ͘ϮϵϭũƵƚĂĂƚĂƵϬ͕ϭϭйŵĞŶũĂĚŝZƉϳ͘ϱϰϭ͘ϯϲϮũƵƚĂLJĂŶŐĚŝƐĞďĂďŬĂŶŽďůŝŐĂƐŝ
LJĂŶŐ ĚŝƚĞƌďŝƚŬĂŶ͘ >ŝĂďŝůŝƚĂƐ ũĂŶŐŬĂ ƉĂŶũĂŶŐ ŵĞŶŐĂůĂŵŝ ƉĞŶŝŶŐŬĂƚĂŶ ƐĞďĞƐĂƌ ZƉϯϯϳ͘ϵϱϲ ũƵƚĂ ĂƚĂƵ ϱ͕ϱй ĚĂƌŝ
ZƉ ϲ͘Ϭϵϭ͘ϲϵϯ ũƵƚĂ ƉĂĚĂ ƚĂŚƵŶ ϮϬϮϯ ŵĞŶũĂĚŝ ZƉ ϲ͘ϰϮϲ͘ϲϰϵ ũƵƚĂ ƉĂĚĂ ƚĂŚƵŶ ϮϬϮϰ LJĂŶŐ ĚŝƐĞďĂďŬĂŶ ŽďůŝŐĂƐŝ
ĚŝƚĞƌďŝƚŬĂŶ͘
hƚĂŶŐ>ĂŝŶͲůĂŝŶ
:ƵŵůĂŚ ƵƚĂŶŐ ůĂŝŶͲůĂŝŶ ƉĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ ĂĚĂůĂŚ ƐĞďĞƐĂƌ ZƉϮϭϳ͘ϮϮϮ ũƵƚĂ͕ LJĂŶŐ ŵĞŶŐĂůĂŵŝ
ƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϰϲ͘ϴϴϵũƵƚĂĂƚĂƵϮϳ͕ϱϮйĚŝďĂŶĚŝŶŐŬĂŶƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌ
ZƉϭϳϬ͘ϯϯϯũƵƚĂ͘WĞŶŝŶŐŬĂƚĂŶƚĞƌƐĞďƵƚƵƚĂŵĂŶLJĂďĞƌƐƵŵďĞƌĚĂƌŝƉĞŶŝŶŐŬĂƚĂŶƵƚĂŶŐĂƐƵƌĂŶƐŝĚĂŶůĂŝŶͲůĂŝŶ͘
hƚĂŶŐKďůŝŐĂƐŝ–ŶĞƚŽ
:ƵŵůĂŚƵƚĂŶŐKďůŝŐĂƐŝŶĞƚŽƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚƐĞďĞƐĂƌZƉϰ͘ϯϴϲ͘ϲϭϬũƵƚĂ͕LJĂŶŐŵĞŶŐĂůĂŵŝ
ƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϭ͘ϴϱϲ͘ϵϵϳũƵƚĂĂƚĂƵϳϯ͕ϰйĚŝďĂŶĚŝŶŐŬĂŶƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌ
ZƉϮ͘ϱϮϵ͘ϲϭϯũƵƚĂ͘WĞŶŝŶŐŬĂƚĂŶƚĞƌƐĞďƵƚĚŝƐĞďĂďŬĂŶŽůĞŚƉĞŶĞƌďŝƚĂŶŽďůŝŐĂƐŝŽůĞŚWĞƌƐĞƌŽĂŶƉĂĚĂƚĂŚƵŶϮϬϮϰ͘
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ϯ͘ ŬƵŝƚĂƐ
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌ
hZ/E
ϮϬϮϰ ϮϬϮϯ
<h/d^
DŽĚĂůƐĂŚĂŵ–ŶŝůĂŝŶŽŵŝŶĂů
ZƉϭ͘ϬϬϬ͘ϬϬϬƉĞƌƐĂŚĂŵ
DŽĚĂůĚĂƐĂƌ–Ϯ͘ϬϬϬ͘ϬϬϬƐĂŚĂŵ
DŽĚĂůĚŝƚĞŵƉĂƚŬĂŶĚĂŶĚŝƐĞƚŽƌƉĞŶƵŚ–ϭ͘ϬϰϮ͘ϬϬϬƐĂŚĂŵƉĂĚĂƚĂŚƵŶϮϬϮϰ
ĚĂŶϮϬϮϯ ϭ͘ϬϰϮ͘ϬϬϬ ϭ͘ϬϰϮ͘ϬϬϬ
dĂŵďĂŚĂŶŵŽĚĂůĚŝƐĞƚŽƌ ϭ͘ϳϴϱ ϭ͘ϳϴϱ
WĞŶŐŚĂƐŝůĂŶŬŽŵƉƌĞŚĞŶƐŝĨůĂŝŶ
<ĞƌƵŐŝĂŶŬƵŵƵůĂƚŝĨĂƚĂƐŝŶƐƚƌƵŵĞŶĚĞƌŝǀĂƚŝĨƵŶƚƵŬůŝŶĚƵŶŐŶŝůĂŝĂƌƵƐŬĂƐͲŶĞƚŽ ;ϯϳ͘ϯϭϳͿ ;ϲ͘ϱϯϳͿ
<ĞƵŶƚƵŶŐĂŶƌĞǀĂůƵĂƐŝƚĂŶĂŚ ϳϬ͘ϰϴϴ ϳϬ͘ϰϴϴ
<ĞƵŶƚƵŶŐĂŶĂŬƚƵĂƌŝĂůĂƚĂƐůŝĂďŝůŝƚĂƐŝŵďĂůĂŶŬĞƌũĂ–ŶĞƚŽ ϱ͘ϭϮϵ ϯ͘Ϭϴϯ
^ĂůĚŽůĂďĂ
dĞůĂŚĚŝƚĞŶƚƵŬĂŶƉĞŶŐŐƵŶĂĂŶŶLJĂ Ϯ͘ϯϬϬ Ϯ͘ϮϬϬ
ĞůƵŵĚŝƚĞŶƚƵŬĂŶƉĞŶŐŐƵŶĂĂŶŶLJĂ ϭ͘ϲϲϳ͘ϳϳϮ ϭ͘ϯϮϳ͘ϰϬϳ
dKd> <h/d^ Ϯ͘ϳϱϮ͘ϭϱϳ Ϯ͘ϰϰϬ͘ϰϮϲ
dKd>>//>/d^E <h/d^ ϭϲ͘ϳϯϭ͘ϰϱϵ ϭϲ͘Ϭϳϯ͘ϰϴϭ
dŽƚĂů ĞŬƵŝƚĂƐ WĞƌƐĞƌŽĂŶ ƉĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ ĂĚĂůĂŚ ƐĞďĞƐĂƌ ZƉϮ͘ϳϱϮ͘ϭϱϳ ũƵƚĂ͕ LJĂŶŐ ŵĞŶŐĂůĂŵŝ
ƉĞŶŝŶŐŬĂƚĂŶƐĞďĞƐĂƌZƉϯϭϭ͘ϳϯϭũƵƚĂĂƚĂƵϭϮ͕ϳϳйĚŝďĂŶĚŝŶŐŬĂŶƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌ
ZƉϮ͘ϰϰϬ͘ϰϮϲ ũƵƚĂ͘ WĞŶŝŶŐŬĂƚĂŶ ƚĞƌƐĞďƵƚ ĚŝƐĞďĂďŬĂŶ ŽůĞŚ ƉĞŶŝŶŐŬĂƚĂŶ ^ĂůĚŽ >ĂďĂ LJĂŶŐ ĞůƵŵ ŝƚĞŶƚƵŬĂŶ
WĞŶŐŐƵŶĂĂŶŶLJĂĚĂŶŬĞƵŶƚƵŶŐĂŶĂŬƚƵĂƌŝĂůĂƚĂƐůŝĂďŝůŝƚĂƐŝŵďĂůĂŶŬĞƌũĂ–ŶĞƚŽƉĂĚĂƚĂŚƵŶϮϬϮϰ͘
͘ E>/^/^Z^/K/D>,^/>
/ŵďĂů,ĂƐŝůƐĞƚ
dŝŶŐŬĂƚŝŵďĂůŚĂƐŝůĂƐĞƚŵĞŶƵŶũƵŬŬĂŶŬĞŵĂŵƉƵĂŶWĞƌƐĞƌŽĂŶĚĂůĂŵŵĞŶŐŚĂƐŝůŬĂŶůĂďĂďĞƌƐŝŚĚĂƌŝĂƐĞƚLJĂŶŐ
ĚŝŵŝůŝŬŝWĞƌƐĞƌŽĂŶ͕LJĂŶŐĚŝƵŬƵƌĚĂƌŝƉĞƌďĂŶĚŝŶŐĂŶĂŶƚĂƌĂůĂďĂƚĂŚƵŶďĞƌũĂůĂŶƚĞƌŚĂĚĂƉũƵŵůĂŚĂƐĞƚ͘
dŝŶŐŬĂƚŝŵďĂůŚĂƐŝůĂƐĞƚWĞƌƐĞƌŽĂŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚϮ͕ϰϴй͕
ŵĞŶŐĂůĂŵŝƉĞŶŝŶŐŬĂƚĂŶũŝŬĂĚŝďĂŶĚŝŶŐŬĂŶĚĞŶŐĂŶƚĂŚƵŶϮϬϮϯ͕LJĂŝƚƵƐĞďĞƐĂƌϭ͕ϳϬй͘WĞŶŝŶŐŬĂƚĂŶŝŶŝĚŝƐĞďĂďŬĂŶ
ŽůĞŚ ĞĨŝƐŝĞŶƐŝŶLJĂ ƉĞŶŐĞůŽůĂĂŶ ĂƐĞƚ ĚĂůĂŵ ŵĞŶŐŚĂƐŝůŬĂŶ ŬĞŶĂŝŬĂŶ ůĂďĂ ƚĂŚƵŶ ďĞƌũĂůĂŶ WĞƌƐĞƌŽĂŶ ƐĞŝƌŝŶŐ
ƉĞŶŝŶŐŬĂƚĂŶůĂďĂƚĂŚƵŶďĞƌũĂůĂŶWĞƌƐĞƌŽĂŶĚŝƚĂŚƵŶϮϬϮϰ͘
/ŵďĂů,ĂƐŝů ŬƵŝƚĂƐ
dŝŶŐŬĂƚŝŵďĂůŚĂƐŝůĞŬƵŝƚĂƐŵĞŶƵŶũƵŬŬĂŶŬĞŵĂŵƉƵĂŶWĞƌƐĞƌŽĂŶĚĂůĂŵŵĞŶŐŚĂƐŝůŬĂŶůĂďĂƚĂŚƵŶďĞƌũĂůĂŶĚĂƌŝ
ĞŬƵŝƚĂƐLJĂŶŐĚŝƚĂŶĂŵŬĂŶ͕LJĂŶŐĚŝƵŬƵƌĚĂƌŝƉĞƌďĂŶĚŝŶŐĂŶĂŶƚĂƌĂůĂďĂƚĂŚƵŶďĞƌũĂůĂŶƚĞƌŚĂĚĂƉũƵŵůĂŚĞŬƵŝƚĂƐ͘
dŝŶŐŬĂƚŝŵďĂůŚĂƐŝůĞŬƵŝƚĂƐWĞƌƐĞƌŽĂŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĂĚĂůĂŚϭϱ͕ϭϬй͕
ŵĞŶŐĂůĂŵŝ ƉĞŶŝŶŐŬĂƚĂŶ ũŝŬĂ ĚŝďĂŶĚŝŶŐŬĂŶ ĚĞŶŐĂŶ ƚĂŚƵŶ ϮϬϮϯ͕ LJĂŝƚƵ ƐĞďĞƐĂƌ ϭϭ͕ϮϬй͘ WĞŶŝŶŐŬĂƚĂŶ ŝŶŝ
ĚŝƐĞďĂďŬĂŶŽůĞŚŵĞŶŝŶŐŬĂƚŶLJĂůĂďĂƚĂŚƵŶďĞƌũĂůĂŶƉĂĚĂϯϭĞƐĞŵďĞƌϮϬϮϰ͘
͘ ^K>s/>/d^
^ŽůǀĂďŝůŝƚĂƐĂĚĂůĂŚŬĞŵĂŵƉƵĂŶWĞƌƐĞƌŽĂŶĚĂůĂŵŵĞŵĞŶƵŚŝŬĞǁĂũŝďĂŶƉŝŶũĂŵĂŶũĂŶŐŬĂƉĞŶĚĞŬŵĂƵƉƵŶũĂŶŐŬĂ
ƉĂŶũĂŶŐLJĂŶŐƐƵĚĂŚũĂƚƵŚƚĞŵƉŽ͕LJĂŶŐƚĞƌĐĞƌŵŝŶĚĂƌŝƉĞƌďĂŶĚŝŶŐĂŶĂŶƚĂƌĂũƵŵůĂŚůŝĂďŝůŝƚĂƐĚĞŶŐĂŶĞŬƵŝƚĂƐĚĂŶ
ũƵŐĂƉĞƌďĂŶĚŝŶŐĂŶĂŶƚĂƌĂũƵŵůĂŚůŝĂďŝůŝƚĂƐĚĞŶŐĂŶũƵŵůĂŚĂƐĞƚ͘
WĞƌďĂŶĚŝŶŐĂŶĂŶƚĂƌĂũƵŵůĂŚůŝĂďŝůŝƚĂƐĚĞŶŐĂŶĞŬƵŝƚĂƐƉĂĚĂƚĂŶŐŐĂůͲƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯŵĂƐŝŶŐ
ŵĂƐŝŶŐĂĚĂůĂŚƐĞďĞƐĂƌϱ͕ϬϴŬĂůŝĚĂŶϱ͕ϱϵŬĂůŝ͘^ĞĚĂŶŐŬĂŶƉĞƌďĂŶĚŝŶŐĂŶĂŶƚĂƌĂũƵŵůĂŚůŝĂďŝůŝƚĂƐĚĞŶŐĂŶĂƐĞƚ
ŵĂƐŝŶŐͲŵĂƐŝŶŐďĞƌĂĚĂƉĂĚĂũƵŵůĂŚƐĞďĞƐĂƌϬ͕ϴϰŬĂůŝƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϬ͕ϴϱŬĂůŝƉĂĚĂƚĂŶŐŐĂů
ϯϭĞƐĞŵďĞƌϮϬϮϯ͘
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&͘ ^ 'D EKW Z^/
^ĞŐŵĞŶ ŽƉĞƌĂƐŝ ĂĚĂůĂŚ ƐƵĂƚƵ ŬŽŵƉŽŶĞŶ ĚĂƌŝ WĞƌƐĞƌŽĂŶ LJĂŶŐ ƚĞƌůŝďĂƚ ĚĂůĂŵ ĂŬƚŝǀŝƚĂƐ ďŝƐŶŝƐ LJĂŶŐ ŵĂŶĂ
ŵĞŵƉĞƌŽůĞŚƉĞŶĚĂƉĂƚĂŶĚĂŶŵĞŶŝŵďƵůŬĂŶďĞďĂŶ͕ƚĞƌŵĂƐƵŬƉĞŶĚĂƉĂƚĂŶĚĂŶďĞďĂŶƚĞƌŬĂŝƚĚĞŶŐĂŶƚƌĂŶƐĂŬƐŝ
ĚĞŶŐĂŶŬŽŵƉŽŶĞŶůĂŝŶĚĂƌŝĞŶƚŝƚĂƐLJĂŶŐƐĂŵĂ͕LJĂŶŐŚĂƐŝůŽƉĞƌĂƐŝŶLJĂĚŝŬĂũŝƵůĂŶŐƐĞĐĂƌĂďĞƌŬĂůĂŽůĞŚƉĞŶŐĂŵďŝů
ŬĞƉƵƚƵƐĂŶ ŽƉĞƌĂƐŝŽŶĂů ƵŶƚƵŬ ŵĞŵďƵĂƚ ŬĞƉƵƚƵƐĂŶ ƚĞŶƚĂŶŐ ƐƵŵďĞƌ ĚĂLJĂ LJĂŶŐ ĚŝĂůŽŬĂƐŝŬĂŶ ƉĂĚĂ ƐĞŐŵĞŶ
ƚĞƌƐĞďƵƚĚĂŶŵĞŶŝůĂŝŬŝŶĞƌũĂŶLJĂ͕ĚĂŶƚĞƌƐĞĚŝĂŝŶĨŽƌŵĂƐŝŬĞƵĂŶŐĂŶLJĂŶŐ ĚĂƉĂƚĚŝƉŝƐĂŚŬĂŶ͘,ĂƐŝůƐĞŐŵĞŶLJĂŶŐ
ĚŝůĂƉŽƌŬĂŶŬĞƉĂĚĂƉĞŶŐĂŵďŝůŬĞƉƵƚƵƐĂŶŽƉĞƌĂƐŝŽŶĂůƚĞƌŵĂƐƵŬŝƚĞŵLJĂŶŐĚĂƉĂƚĚŝĂƚƌŝďƵƐŝŬĂŶƐĞĐĂƌĂůĂŶŐƐƵŶŐ
ŬĞƉĂĚĂƐĞŐŵĞŶĚĂŶũƵŐĂLJĂŶŐĚĂƉĂƚĚŝĂůŽŬĂƐŝŬĂŶĚĞŶŐĂŶďĂƐŝƐLJĂŶŐǁĂũĂƌ͘
WĞƌƐĞƌŽĂŶ ŵĞŶŐĞůŽůĂ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂŶLJĂ ĚĂŶ ŵĞŶŐŝĚĞŶƚŝĨŝŬĂƐŝ ƐĞŐŵĞŶ LJĂŶŐ ĚŝůĂƉŽƌŬĂŶ ďĞƌĚĂƐĂƌŬĂŶ ǁŝůĂLJĂŚ
ŐĞŽŐƌĂĨŝƐ͘
WĞƌƐĞƌŽĂŶŵĞŶĞŶƚƵŬĂŶĚĂŶŵĞŶLJĂũŝŬĂŶƐĞŐŵĞŶŽƉĞƌĂƐŝďĞƌĚĂƐĂƌŬĂŶŝŶĨŽƌŵĂƐŝLJĂŶŐƐĞĐĂƌĂŝŶƚĞƌŶĂůĚŝďĞƌŝŬĂŶ
ŬĞƉĂĚĂƉĞŶŐĂŵďŝůŬĞƉƵƚƵƐĂŶŽƉĞƌĂƐŝŽŶĂů͘
WĞƌƐĞƌŽĂŶŵĞůĂŬƵŬĂŶŬĞŐŝĂƚĂŶƉĞŵďŝĂLJĂĂŶĚŝďĞďĞƌĂƉĂǁŝůĂLJĂŚĚŝ/ŶĚŽŶĞƐŝĂ;:ĂŬĂƌƚĂ͕ŽŐŽƌ͕dĂŶŐĞƌĂŶŐĚĂŶ
ĞŬĂƐŝͲĚŝƐŝŶŐŬĂƚ:ĂďŽƚĂďĞŬ͕:ĂǁĂ͕ĂůŝĚĂŶEƵƐĂdĞŶŐŐĂƌĂ͕^ƵŵĂƚĞƌĂ͕<ĂůŝŵĂŶƚĂŶĚĂŶ^ƵůĂǁĞƐŝͿ͘hŶƚƵŬŝƚƵ͕
ŝŶĨŽƌŵĂƐŝƐĞŐŵĞŶŐĞŽŐƌĂĨŝƐĚŝƐĂũŝŬĂŶƐĞďĂŐĂŝďĞŶƚƵŬƉƌŝŵĞƌƉĞůĂƉŽƌĂŶƐĞŐŵĞŶ͘
/ŶĨŽƌŵĂƐŝƐĞŐŵĞŶŵĞŶƵƌƵƚĚĂĞƌĂŚŐĞŽŐƌĂĨŝƐĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌϮϬϮϰ
:ĂǁĂ͕Ăůŝ͕ĚĂŶ
:ĂďŽƚĂďĞŬ ^ƵŵĂƚĞƌĂ <ĂůŝŵĂŶƚĂŶ ^ƵůĂǁĞƐŝ dŽƚĂůEĞƚŽ
EƵƐĂdĞŶŐŐĂƌĂ
WĞŶĚĂƉĂƚĂŶ^ĞŐŵĞŶ ϭ͘ϮϮϵ͘ϳϯϴ ϰϯϲ͘ϱϱϯ ϰϱϰ͘ϬϴϮ ϭϱϯ͘Ϯϭϵ Ϯϱϴ͘ϵϰϲ Ϯ͘ϱϯϮ͘ϱϯϴ
ĞďĂŶ^ĞŐŵĞŶ͗
ĞďĂŶƉĞŵďŝĂLJĂĂŶͲŶĞƚŽ ϰϲϴ͘ϭϳϱ ϭϲϭ͘ϱϲϮ ϭϲϴ͘Ϭϰϵ ϰϴ͘ϳϬϰ ϴϴ͘ϴϯϮ ϵϯϱ͘ϯϮϮ
WĞŶLJŝƐŝŚĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝ ϴϭ͘ϴϱϲ ϴϯ͘ϳϴϴ ϳϴ͘ϱϬϮ ϯϭ͘ϲϯϴ ϱϰ͘ϯϭϳ ϯϯϬ͘ϭϬϭ
ƉŝƵƚĂŶŐĚĂŶŬĂƐĚĂŶƐĞƚĂƌĂŬĂƐ
'Ăũŝ͕ ƚƵŶũĂŶŐĂŶĚĂŶďĞďĂŶ ϴϱ͘ϴϬϳ ϭϬϰ͘ϵϴϲ ϴϯ͘ϰϲϴ Ϯϵ͘Ϯϲϰ ϱϯ͘ϴϮϴ ϯϱϳ͘ϯϱϯ
ŬĞƐĞũĂŚƚĞƌĂĂŶŬĂƌLJĂǁĂŶ
hŵƵŵĚĂŶĂĚŵŝŶŝƐƚƌĂƐŝ ϳϵ͘ϯϱϲ ϱϲ͘ϲϲϬ ϰϭ͘ϳϴϰ ϭϯ͘ϲϳϱ Ϯϰ͘ϬϮϰ Ϯϭϱ͘ϰϵϵ
WĞŶLJŝƐŝŚĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝ ϰϳ͘ϬϮϱ ϭϯ͘ϯϯϱ ϯϳ͘ϭϵϵ ϮϬ͘ϬϮϲ Ϯϳ͘ϲϭϱ ϭϰϱ͘ϮϬϬ
ůĂŝŶŶLJĂĚĂŶŬĞƌƵŐŝĂŶƉĞŶũƵĂůĂŶĂƚĂƐ
ũĂŵŝŶĂŶĂƐĞƚLJĂŶŐĚŝďŝĂLJĂŝ
WĞŶLJƵƐƵƚĂŶĂƐĞƚŚĂŬŐƵŶĂ ϳ͘ϴϴϳ ϴ͘ϯϬϱ ϲ͘ϴϰϵ ϯ͘ϭϱϯ ϱ͘ϬϬϬ ϯϭ͘ϭϵϰ
WĞŶLJƵƐƵƚĂŶĂƐĞƚƚĞƚĂƉ ϭϭ͘ϴϬϯ ϰ͘ϵϳϲ ϯ͘ϵϭϬ ϭ͘ϲϳϴ Ϯ͘ϰϱϲ Ϯϰ͘ϴϮϯ
dŽƚĂůĞďĂŶ ϳϴϭ͘ϵϬϵ ϰϯϯ͘ϲϭϮ ϰϭϵ͘ϳϲϭ ϭϰϴ͘ϭϯϴ Ϯϱϲ͘ϬϳϮ Ϯ͘Ϭϯϵ͘ϰϵϮ
,ĂƐŝů^ĞŐŵĞŶ ϰϰϳ͘ϴϮϵ Ϯ͘ϵϰϭ ϯϰ͘ϯϮϭ ϱ͘Ϭϴϭ Ϯ͘ϴϳϰ ϰϵϯ͘Ϭϰϲ
>ĂďĂƐĞďĞůƵŵďĞďĂŶƉĂũĂŬĨŝŶĂůĚĂŶďĞďĂŶ ϰϰϳ͘ϴϮϵ Ϯ͘ϵϰϭ ϯϰ͘ϯϮϭ ϱ͘Ϭϴϭ Ϯ͘ϴϳϰ ϰϵϯ͘Ϭϰϲ
ƉĂũĂŬƉĞŶŐŚĂƐŝůĂŶ
ĞďĂŶƉĂũĂŬĨŝŶĂů ;ϱ͘ϮϮϮͿ Ͳ Ͳ Ͳ Ͳ ;ϱ͘ϮϮϮͿ
ĞďĂŶƉĂũĂŬƉĞŶŐŚĂƐŝůĂŶͲŶĞƚŽ ;ϳϮ͘ϯϱϵͿ Ͳ Ͳ Ͳ Ͳ ;ϳϮ͘ϯϱϵͿ
>ĂďĂƚĂŚƵŶďĞƌũĂůĂŶ ϯϳϬ͘Ϯϰϴ Ϯ͘ϵϰϭ ϯϰ͘ϯϮϭ ϱ͘Ϭϴϭ Ϯ͘ϴϳϰ ϰϭϱ͘ϰϲϱ
dŽƚĂůĂƐĞƚƐĞŐŵĞŶΎ ϵ͘ϭϬϳ͘Ϭϲϵ Ϯ͘ϳϬϮ͘ϳϲϰ Ϯ͘ϴϵϭ͘ϯϲϭ ϳϲϭ͘ϵϳϯ ϭ͘Ϯϰϳ͘ϯϮϴ ϭϲ͘ϳϭϬ͘ϰϵϱ
dŽƚĂůůŝĂďŝůŝƚĂƐƐĞŐŵĞŶ ϲ͘ϱϯϵ͘ϯϱϬ Ϯ͘ϲϬϲ͘Ϯϯϭ Ϯ͘ϵϳϯ͘ϳϬϲ ϳϬϳ͘ϴϲϵ ϭ͘ϭϱϮ͘ϭϰϲ ϭϯ͘ϵϳϵ͘ϯϬϮ
dŽƚĂůƉĞƌŽůĞŚĂŶĂƐĞƚƚĞƚĂƉƐĞŐŵĞŶ ϭϳ͘ϵϯϳ ϯϮ͘ϬϲϬ ϰ͘Ϭϵϭ Ϯ͘Ϭϴϰ Ϯ͘ϯϴϰ ϱϴ͘ϱϱϲ
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌϮϬϮϯ
:ĂǁĂ͕Ăůŝ͕ĚĂŶ
:ĂďŽĚĞƚĂďĞŬ ^ƵŵĂƚĞƌĂ <ĂůŝŵĂŶƚĂŶ ^ƵůĂǁĞƐŝ dŽƚĂůEĞƚŽ
EƵƐĂdĞŶŐŐĂƌĂ
WĞŶĚĂƉĂƚĂŶ^ĞŐŵĞŶ ϭ͘ϭϱϯ͘Ϭϳϴ ϰϬϵ͘ϭϭϵ ϰϭϲ͘ϱϭϯ ϭϰϲ͘ϴϯϳ Ϯϱϲ͘ϵϰϲ Ϯ͘ϯϴϮ͘ϰϵϯ
ĞďĂŶ^ĞŐŵĞŶ͗
ĞďĂŶƉĞŵďŝĂLJĂĂŶͲŶĞƚŽ ϰϴϳ͘ϰϵϳ ϭϭϱ͘ϯϯϵ ϭϬϰ͘ϴϰϵ ϯϱ͘ϱϳϵ ϲϱ͘ϰϮϳ ϴϬϴ͘ϲϵϭ
WĞŶLJŝƐŝŚĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝ
ϭϮϭ͘ϲϵϱ ϭϭϱ͘ϲϵϱ ϭϱϳ͘ϵϵϮ ϰϲ͘ϰϯϯ ϳϰ͘ϲϮϲ ϱϭϲ͘ϰϰϭ
ƉŝƵƚĂŶŐĚĂŶŬĂƐĚĂŶƐĞƚĂƌĂŬĂƐ
'Ăũŝ͕ ƚƵŶũĂŶŐĂŶĚĂŶďĞďĂŶ
ϴϬ͘ϵϱϵ ϵϲ͘ϭϮϲ ϳϱ͘ϵϵϭ Ϯϱ͘ϱϰϬ ϰϲ͘ϳϱϴ ϯϮϱ͘ϯϳϰ
ŬĞƐĞũĂŚƚĞƌĂĂŶŬĂƌLJĂǁĂŶ
hŵƵŵĚĂŶĂĚŵŝŶŝƐƚƌĂƐŝ ϭϬϮ͘ϯϱϱ ϰϵ͘ϬϵϬ ϯϳ͘ϳϳϵ ϭϭ͘ϲϴϭ ϮϬ͘Ϯϭϲ ϮϮϭ͘ϭϮϬ
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PT INDOMOBIL FINANCE INDONESIA
ϯϭĞƐĞŵďĞƌϮϬϮϯ
:ĂǁĂ͕Ăůŝ͕ĚĂŶ
:ĂďŽĚĞƚĂďĞŬ ^ƵŵĂƚĞƌĂ <ĂůŝŵĂŶƚĂŶ ^ƵůĂǁĞƐŝ dŽƚĂůEĞƚŽ
EƵƐĂdĞŶŐŐĂƌĂ
WĞŶLJŝƐŝŚĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝ
ůĂŝŶŶLJĂĚĂŶŬĞƌƵŐŝĂŶƉĞŶũƵĂůĂŶĂƚĂƐ ϭϲ͘ϮϬϯ ϭϰ͘ϱϮϲ Ϯϱ͘ϵϲϰ ϭϱ͘ϲϲϭ Ϯϭ͘ϭϮϭ ϵϯ͘ϰϳϱ
ũĂŵŝŶĂŶĂƐĞƚLJĂŶŐĚŝďŝĂLJĂŝ
WĞŶLJƵƐƵƚĂŶĂƐĞƚŚĂŬŐƵŶĂ ϳ͘ϱϯϱ ϴ͘ϱϯϴ ϲ͘ϳϴϳ ϯ͘ϭϮϭ ϰ͘ϵϮϴ ϯϬ͘ϵϬϵ
WĞŶLJƵƐƵƚĂŶĂƐĞƚƚĞƚĂƉ ϭϮ͘ϭϰϮ ϯ͘ϴϮϭ ϯ͘ϱϴϲ ϭ͘ϰϬϭ Ϯ͘ϮϮϬ Ϯϯ͘ϭϳϬ
dŽƚĂůĞďĂŶ ϴϮϴ͘ϯϴϱ ϰϬϯ͘ϭϯϱ ϰϭϮ͘ϵϰϴ ϭϯϵ͘ϰϭϲ Ϯϯϱ͘Ϯϵϲ Ϯ͘Ϭϭϵ͘ϭϴϬ
,ĂƐŝů^ĞŐŵĞŶ ϯϮϰ͘ϲϵϯ ϱ͘ϵϴϰ ϯ͘ϱϲϱ ϳ͘ϰϮϭ Ϯϭ͘ϲϱϬ ϯϲϯ͘ϯϭϯ
>ĂďĂƐĞďĞůƵŵďĞďĂŶƉĂũĂŬĨŝŶĂůĚĂŶďĞďĂŶ
ƉĂũĂŬƉĞŶŐŚĂƐŝůĂŶ ϯϮϰ͘ϲϵϯ ϱ͘ϵϴϰ ϯ͘ϱϲϱ ϳ͘ϰϮϭ Ϯϭ͘ϲϱϬ ϯϲϯ͘ϯϭϯ
ĞďĂŶƉĂũĂŬĨŝŶĂů ;ϭ͘ϳϴϰͿ Ͳ Ͳ Ͳ Ͳ ;ϭ͘ϳϴϰͿ
ĞďĂŶƉĂũĂŬƉĞŶŐŚĂƐŝůĂŶͲŶĞƚŽ ;ϴϴ͘ϭϭϳͿ Ͳ Ͳ Ͳ Ͳ ;ϴϴ͘ϭϭϳͿ
>ĂďĂƚĂŚƵŶďĞƌũĂůĂŶ Ϯϯϰ͘ϳϵϮ ϱ͘ϵϴϰ ϯ͘ϱϲϱ ϳ͘ϰϮϭ Ϯϭ͘ϲϱϬ Ϯϳϯ͘ϰϭϮ
dŽƚĂůĂƐĞƚƐĞŐŵĞŶΎ ϵ͘ϮϯϮ͘Ϯϴϱ Ϯ͘ϯϭϱ͘ϲϴϰ Ϯ͘ϱϭϱ͘ϭϯϳ ϳϯϴ͘ϯϵϬ ϭ͘Ϯϲϱ͘Ϭϱϱ ϭϲ͘Ϭϲϲ͘ϱϱϭ
dŽƚĂůůŝĂďŝůŝƚĂƐƐĞŐŵĞŶ ϳ͘ϬϬϴ͘ϮϮϲ Ϯ͘ϭϵϬ͘ϮϲϬ Ϯ͘ϱϵϬ͘ϵϵϳ ϲϳϲ͘ϱϵϬ ϭ͘ϭϲϲ͘ϵϴϮ ϭϯ͘ϲϯϯ͘Ϭϱϱ
dŽƚĂůƉĞƌŽůĞŚĂŶĂƐĞƚƚĞƚĂƉƐĞŐŵĞŶ ϮϬ͘ϲϴϴ Ϯϳ͘ϭϰϴ ϴ͘ϱϴϴ ϰ͘ϱϬϰ ϱ͘ϳϲϵ ϲϲ͘ϲϵϳ
ΎͿƚŝĚĂŬƚĞƌŵĂƐƵŬĂƐĞƚƉĂũĂŬƚĂŶŐŐƵŚĂŶ–ŶĞƚŽ
ZŝŶĐŝĂŶƉĞŶũĞůĂƐĂŶƐĞŐŵĞŶŽƉĞƌĂƐŝWĞƌƐĞƌŽĂŶĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ŝ͘ WĞŵďŝĂLJĂĂŶĂƌƵhŶŝƚLJĂŶŐŝďŝĂLJĂŝ
WĞŵďŝĂLJĂĂŶďĂƌƵƵŶŝƚLJĂŶŐĚŝďŝĂLJĂŝWĞƌƐĞƌŽĂŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ
ĂĚĂůĂŚƐĞďĂŶLJĂŬϭϭϳ͘ϬϳϮƵŶŝƚĚĂŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ
ĂĚĂůĂŚƐĞďĞƐĂƌϵϵ͘ϮϵϵƵŶŝƚ͘
ŝŝ͘ WĞŶĚĂƉĂƚĂŶ
WĞŶĚĂƉĂƚĂŶƐĞŐŵĞŶWĞƌƐĞƌŽĂŶŵĞŶĐĂƚĂƚŬĂŶƉĞŶŝŶŐŬĂƚĂŶƉĞŶĚĂƉĂƚĂŶďĂƌƵŵĞŶĐĂƉĂŝZƉϭϱϬ͘ϬϰϱũƵƚĂƉĂĚĂ
ƚĂŚƵŶ ϮϬϮϰ͕ ŶĂŝŬ ƐĞďĞƐĂƌ ϲ͕ϯϬй zĞĂƌͲŽŶͲzĞĂƌ ;LJͲŽŶͲLJͿ ĚŝďĂŶĚŝŶŐŬĂŶ ĚĞŶŐĂŶ ƚĂŚƵŶ ϮϬϮϯ͘ <ŽŶƚƌŝďƵƐŝ ĚĂƌŝ
ƉĞŶĚĂƉĂƚĂŶ ďĂƌƵ ƉĂůŝŶŐ ďĞƐĂƌ ďĞƌĂƐĂů ĚĂƌŝ ǁŝůĂLJĂŚ :ĂďŽĚĞƚĂďĞŬ ĚĞŶŐĂŶ ŬŽŶƚƌŝďƵƐŝ ƐĞďĞƐĂƌ ϰϴ͕ϱϲй ĚĂŶ
ϰϴ͕ϰϬйƚĞƌŚĂĚĂƉƚŽƚĂůƉĞŶĚĂƉĂƚĂŶƐĞŐŵĞŶ͘
ŝŝŝ͘ <ŽŶƚƌŝďƵƐŝƚĞƌŚĂĚĂƉWĞŶĚĂƉĂƚĂŶhƐĂŚĂĚĂŶ>ĂďĂdĂŚƵŶĞƌũĂůĂŶ
<ŽŶƚƌŝďƵƐŝƉĞŶĚĂƉĂƚĂŶ^ĞŐŵĞŶŵĂƐŝŶŐͲŵĂƐŝŶŐŵĞŶƵƌƵƚĚĂĞƌĂŚŐĞŽŐƌĂĨŝƐƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂ
ϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯƐĞĐĂƌĂďĞƌƚƵƌƵƚͲƚƵƌƵƚĂĚĂůĂŚϰϴ͕ϱϲйĚĂŶϰϴ͕ϰϬйƵŶƚƵŬǁŝůĂLJĂŚ:ĂďŽĚĞƚĂďĞŬ͕
ϭϳ͕ϵϯйĚĂŶϭϳ͕ϰϴйƵŶƚƵŬǁŝůĂLJĂŚ^ƵŵĂƚƌĂ͕ϲ͕ϬϱйĚĂŶϲ͕ϭϲйƵŶƚƵŬǁŝůĂLJĂ<ĂůŝŵĂŶƚĂŶ͕ϭϬ͕ϮϮйĚĂŶϭϬ͕ϳϴй
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PT INDOMOBIL FINANCE INDONESIA
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
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ĚĞŶŐĂŶŵĞŶŝŶŐŬĂƚŶLJĂƉĞŵďĞůŝĂŶĂƐĞƚƚĞƚĂƉƐĞďĞƐĂƌZƉϮ͘ϬϳϰũƵƚĂ͘
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ĚŝďĂŶĚŝŶŐŬĂŶ ƉĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϯ͕ LJĂŝƚƵ ƐĞďĞƐĂƌ ZƉϳϴϰ͘ϯϳϬ ũƵƚĂ͘ WĞŶƵƌƵŶĂŶ ŝŶŝ ƚĞƌƵƚĂŵĂ
ĚŝƐĞďĂďŬĂŶŬĂƌĞŶĂďĞƌŬƵƌĂŶŐŶLJĂƉĞŶĂŵďĂŚĂŶƵƚĂŶŐďĂŶŬ͘
WĞƌƐĞƌŽĂŶŵĞŶũĂŐĂ;ŵĂŶĂŐĞͿĂƌƵƐŬĂƐĚĞŶŐĂŶĐĂƌĂŵĞŶLJĞƐƵĂŝŬĂŶũƵŵůĂŚĚĂŶũĂŶŐŬĂǁĂŬƚƵƉŝŶũĂŵĂŶĚĞŶŐĂŶ
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ĚŝƚĞƌŝŵĂĚĂƌŝƉĞůĂŶŐŐĂŶĚĞŶŐĂŶĂƌƵƐŬĂƐLJĂŶŐŚĂƌƵƐĚŝďĂLJĂƌŬĂŶWĞƌƐĞƌŽĂŶŬĞƉĂĚĂďĂŶŬĚĂŶŬĞǁĂũŝďĂŶŽďůŝŐĂƐŝ͘
>ŝŬƵŝĚŝƚĂƐ ŵĞŶƵŶũƵŬŬĂŶ ŬĞŵĂŵƉƵĂŶ WĞƌƐĞƌŽĂŶ ĚĂůĂŵ ŵĞŵĞŶƵŚŝ ŬĞǁĂũŝďĂŶ LJĂŶŐ ũĂƚƵŚ ƚĞŵƉŽ ĚĂƌŝ ƐƵŵďĞƌ
ƉĞŶĚĂŶĂĂŶĂƌƵƐŬĂƐĚĂŶͬĂƚĂƵĚĂƌŝĂƐĞƚůŝŬƵŝĚďĞƌŬƵĂůŝƚĂƐƚŝŶŐŐŝƚĂŶƉĂŵĞŶŐĂŶŐŐƵĂŬƚŝǀŝƚĂƐĚĂŶŬŽŶĚŝƐŝŬĞƵĂŶŐĂŶ
WĞƌƐĞƌŽĂŶ͘WĞƌƐĞƌŽĂŶŵĞŶŐĞůŽůĂůŝŬƵŝĚŝƚĂƐĚĞŶŐĂŶŵĞŶũĂŐĂŬĞĐƵŬƵƉĂŶ ĚĂŶĂƐŝŵƉĂŶĂŶ͕ŵĞŵƉĞƌŽůĞŚĨĂƐŝůŝƚĂƐ
ƉŝŶũĂŵĂŶ ĚĂŶ ĚĞŶŐĂŶ ƚĞƌƵƐͲŵĞŶĞƌƵƐ ŵĞŵŽŶŝƚŽƌ ĂƌƵƐ ŬĂƐ ƉĞƌŬŝƌĂĂŶ ĚĂŶ ĂƌƵƐ ŬĂƐ ĂŬƚƵĂůƐĞƌƚĂ ŵĞŶĐŽĐŽŬŬĂŶ
ƉƌŽĨŝů ũĂƚƵŚ ƚĞŵƉŽ ĂƐĞƚ ĚĂŶ ůŝĂďŝůŝƚĂƐ ŬĞƵĂŶŐĂŶ͘ WĞƌƐĞƌŽĂŶ ũƵŐĂ ŵĞůĂŬƵŬĂŶ ŵŽŶŝƚŽƌ ƐĞĐĂƌĂ ďĞƌŬĂůĂ ƉŽƐŝƐŝ
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ĚĂŶĂƵŶƚƵŬŵĞŵďŝĂLJĂŝŬĞďƵƚƵŚĂŶŵŽĚĂůŬĞƌũĂLJĂŶŐďĞƌŬĞůĂŶŐƐƵŶŐĂŶ͘
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WĞƌƐĞƌŽĂŶ͘
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ĚĂƌŝ ƉĞŵĞŐĂŶŐ ƐĂŚĂŵ͘ WĞƌƐĞƌŽĂŶ ƉĂĚĂ ĚĂƐĂƌŶLJĂ ŵĞŶŐŐƵŶĂŬĂŶ ĚĂŶĂ ;ĂƌƵƐ ŬĂƐ ŬĞůƵĂƌͿ ƵŶƚƵŬ ƉĞŶLJĂůƵƌĂŶ
ƉĞŵďŝĂLJĂĂŶĚĞŶŐĂŶƐŬĞŵĂƐĞǁĂƉĞŵďŝĂLJĂĂŶ͕ƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ͕ĚĂŶĂŶũĂŬƉŝƵƚĂŶŐ͕ƉĞŵďĂLJĂƌĂŶďƵŶŐĂ
ŽďůŝŐĂƐŝ LJĂŶŐ ĚŝƚĞƌďŝƚŬĂŶ ĚĂŶ ƉŝŶũĂŵĂŶ ďĂŶŬ LJĂŶŐ ĚŝƚĞƌŝŵĂ͕ ƉĞůƵŶĂƐĂŶ ƉŽŬŽŬ ƉŝŶũĂŵĂŶ ďĂŶŬ LJĂŶŐ ĚŝƚĞƌŝŵĂ͕
ƉĞŵďĂLJĂƌĂŶ ƉŽŬŽŬ ŽďůŝŐĂƐŝ LJĂŶŐ ĚŝƚĞƌďŝƚŬĂŶ ƐĞƌƚĂ ƵŶƚƵŬ ƉĞŵďĂLJĂƌĂŶ ďĞďĂŶ ŽƉĞƌĂƐŝŽŶĂů͘ WĞƌƐĞƌŽĂŶ ƐĞůĂůƵ
ďĞƌƵƉĂLJĂŵĞŵƉĞƌƚĂŚĂŶŬĂŶĐĂĚĂŶŐĂŶůŝŬƵŝĚŝƚĂƐƵŶƚƵŬŵĞŵĞŶƵŚŝƐĞůƵƌƵŚŬĞǁĂũŝďĂŶŬĞƵĂŶŐĂŶŶLJĂƐĞƌƚĂƵŶƚƵŬ
ŵĞŵĞŶƵŚŝŬĞďƵƚƵŚĂŶƉĞŶLJĂůƵƌĂŶƉĞŵďŝĂLJĂĂŶ͘
,͘ >/<h//d^E^hD ZW EEE
>ŝŬƵŝĚŝƚĂƐ ĚĂůĂŵ ƉĞƌƵƐĂŚĂĂŶ ƉĞŵďŝĂLJĂĂŶ ŵĞƌƵƉĂŬĂŶ ŐĂŵďĂƌĂŶ ĚĂŶ ŬĞŵĂŵƉƵĂŶ WĞƌƐĞƌŽĂŶ ĚĂůĂŵ ŚĂů
ŵĞŶŐĞůŽůĂƉĞƌƉƵƚĂƌĂŶĂƌƵƐŬĂƐĚĂůĂŵũĂŶŐŬĂƉĞŶĚĞŬ͕ƚĞƌĚŝƌŝĚĂƌŝĂƌƵƐŬĂƐŵĂƐƵŬ;ĐĂƐŚŝŶĨůŽǁͿĂƚĂƵƉƵŶĂƌƵƐŬĂƐ
ŬĞůƵĂƌ;ĐĂƐŚŽƵƚĨůŽǁͿ͘
40
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>ŝŬƵŝĚŝƚĂƐWĞƌƐĞƌŽĂŶĂŶƚĂƌĂůĂŝŶ͗
ϭ͘ ^ƵŵďĞƌŝŶƚĞƌŶĂůĚĂŶĞŬƐƚĞƌŶĂůůŝŬƵŝĚŝƚĂƐ
WĞƌƐĞƌŽĂŶŵĞŵŝůŝŬŝƐƵŵďĞƌůŝŬƵŝĚŝƚĂƐŝŶƚĞƌŶĂůďĞƌƵƉĂŬĂƐĚĂŶƐĞƚĂƌĂŬĂƐĚĂŶƐƵŵďĞƌůŝŬƵŝĚŝƚĂƐĞŬƐƚĞƌŶĂů
LJĂŶŐďĞƌĂƐĂůĚĂƌŝĨĂƐŝůŝƚĂƐŬƌĞĚŝƚƐŝŶĚŝŬĂƐŝ͕ƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂŵĂƵƉƵŶĨĂƐŝůŝƚĂƐŬƌĞĚŝƚďŝůĂƚĞƌĂů͕ďĂŝŬŝƚƵ
ũĂŶŐŬĂƉĂŶũĂŶŐĂƚĂƵƉƵŶƉĞŶĚĞŬ͘
Ϯ͘ ^ƵŵďĞƌůŝŬƵŝĚŝƚĂƐLJĂŶŐŵĂƚĞƌŝĂůLJĂŶŐĚĂƉĂƚĚŝŐƵŶĂŬĂŶ
WĂĚĂ ƉŽƐŝƐŝ ĞƐĞŵďĞƌ ϮϬϮϰ͕ WĞƌƐĞƌŽĂŶ ŵĂƐŝŚ ŵĞŵŝůŝŬŝ ƐƵŵďĞƌ ůŝŬƵŝĚŝƚĂƐ LJĂŶŐ ŵĂƚĞƌŝĂů LJĂŶŐ ďĞůƵŵ
ĚŝŐƵŶĂŬĂŶ ƐĞďĞƐĂƌ ZƉϵ͘ϳϭϴ͘ϯϰϱ ũƵƚĂ LJĂŶŐ ƚĞƌĚŝƌŝ ĚĂƌŝ ůŝŬƵŝĚŝƚĂƐ ŝŶƚĞƌŶĂů ƐĞďĞƐĂƌ ZƉϭ͘ϲϱϵ͘ϭϱϳ ũƵƚĂ ĚĂŶ
ůŝŬƵŝĚŝƚĂƐ ĞŬƐƚĞƌŶĂů ƐĞďĞƐĂƌ ZƉϴ͘Ϭϱϵ͘ϭϴϴ ũƵƚĂ͘ WĞƌƐĞƌŽĂŶ ƐĞůĂůƵ ŵĞŶũĂŐĂ ƚŝŶŐŬĂƚ ůŝŬƵŝĚŝƚĂƐ WĞƌƐĞƌŽĂŶ͕
ƚĞƌŵĂƐƵŬĂŶƚŝƐŝƉĂƐŝƵŶƚƵŬƉĞƌŬĞŵďĂŶŐĂŶƉĞŶLJĂůƵƌĂŶŬƌĞĚŝƚ͕ƌŝƐŝŬŽŬƌĞĚŝƚĚĂƌŝƉĞůĂŶŐŐĂŶĚĂŶŬĞƚĞƌƐĞĚŝĂĂŶ
ĚĂŶĂƐĞŶĚŝƌŝŵĂƵƉƵŶďĞƌƵƉĂƉŝŶũĂŵĂŶƵŶƚƵŬŵĞŶũĂŵŝŶŬĞůĂŶĐĂƌĂŶŽƉĞƌĂƐŝŽŶĂůWĞƌƐĞƌŽĂŶ͘
^ĂŵƉĂŝ ĚĞŶŐĂŶ ƚĂŶŐŐĂů WƌŽƐƉĞŬƚƵƐ ŝŶŝ ĚŝƚĞƌďŝƚŬĂŶ͕ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ŵĞŶŐĞƚĂŚƵŝ ĂĚĂŶLJĂ ŬĞĐĞŶĚĞƌƵŶŐĂŶ͕
ƉĞƌŵŝŶƚĂĂŶ͕ ƉĞƌŝŬĂƚĂŶ ĂƚĂƵ ŬŽŵŝƚŵĞŶ͕ ŬĞũĂĚŝĂŶ ĚĂŶͬĂƚĂƵ ŬĞƚŝĚĂŬƉĂƐƚŝĂŶ LJĂŶŐ ŵƵŶŐŬŝŶ ŵĞŶŐĂŬŝďĂƚŬĂŶ
ƚĞƌũĂĚŝŶLJĂƉĞŶŝŶŐŬĂƚĂŶĂƚĂƵƉĞŶƵƌƵŶĂŶLJĂŶŐŵĂƚĞƌŝĂůƚĞƌŚĂĚĂƉůŝŬƵŝĚŝƚĂƐWĞƌƐĞƌŽĂŶ͘
ĞŶŐĂŶŵĞŵƉĞƌƚŝŵďĂŶŐŬĂŶƐƵŵďĞƌŬĞƵĂŶŐĂŶLJĂŶŐƚĞƌƐĞĚŝĂ͕ƚĞƌŵĂƐƵŬĂƌƵƐŬĂƐĚĂƌŝĂŬƚŝǀŝƚĂƐŽƉĞƌĂƐŝŽŶĂů͕ƐĞƌƚĂ
KďůŝŐĂƐŝ LJĂŶŐ ĚŝƚĞƌďŝƚŬĂŶ ŝŶŝ͕ WĞƌƐĞƌŽĂŶ ďĞƌŬĞLJĂŬŝŶĂŶ ĂŬĂŶ ŵĞŵŝůŝŬŝ ůŝŬƵŝĚŝƚĂƐ LJĂŶŐ ĐƵŬƵƉ ƵŶƚƵŬ ŵĞŵĞŶƵŚŝ
ŬĞďƵƚƵŚĂŶ ŵŽĚĂů ŬĞƌũĂ ĚĂŶ ŬĞŐŝĂƚĂŶ ŽƉĞƌĂƐŝ WĞƌƐĞƌŽĂŶ ƐĞƚŝĚĂŬŶLJĂ ƵŶƚƵŬ ϭϮ ďƵůĂŶ ŬĞ ĚĞƉĂŶ͘ :ŝŬĂ ŶĂŶƚŝŶLJĂ
ůŝŬƵŝĚŝƚĂƐ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ŵĞŶĐƵŬƵƉŝ ƵŶƚƵŬ ŵĞŵĞŶƵŚŝ ŵŽĚĂů ŬĞƌũĂ͕ WĞƌƐĞƌŽĂŶ ĂŬĂŶ ďĞƌƵƐĂŚĂ ŵĞŶĚĂƉĂƚŬĂŶ
ƉŝŶũĂŵĂŶĚĂŶͬĂƚĂƵĨĂƐŝůŝƚĂƐŬƌĞĚŝƚďĂƌƵŵĂƵƉƵŶƉĞŶĚĂŶĂĂŶŵĞůĂůƵŝƉĂƐĂƌŵŽĚĂů͘
/͘ /Es ^d^/ZE'DK>
hŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůͲƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯ͕ƉĞƌŽůĞŚĂŶĂƐĞƚƚĞƚĂƉWĞƌƐĞƌŽĂŶ
ŵĂƐŝŶŐ Ͳ ŵĂƐŝŶŐ ĂĚĂůĂŚ ƐĞďĞƐĂƌ ZƉϱϴ͘ϱϱϲ ũƵƚĂ ĚĂŶ ZƉϱϲ͘ϰϴϮ ũƵƚĂ͘ ^ĂĂƚ ŝŶŝ WĞƌƐĞƌŽĂŶ ŵĞŶŐŽƉƚŝŵĂůŬĂŶ
ƉĞŶŐŐƵŶĂĂŶďĂƌĂŶŐŵŽĚĂůLJĂŶŐƚĞůĂŚĂĚĂĚĂŶŵĞŵŝŶŝŵĂůŬĂŶƌĞŶĐĂŶĂŝŶǀĞƐƚĂƐŝďĂƌĂŶŐŵŽĚĂůLJĂŶŐďĂƌƵŬĞĐƵĂůŝ
ƉĞŶŐŐĂŶƚŝĂŶĂƐĞƚůĂŵĂĚĞŶŐĂŶĂƐĞƚďĂƌƵƐƵƉĂLJĂůĞďŝŚƉƌŽĚƵŬƚŝĨ͘WĞŶŐĞůƵĂƌĂŶƚĞƌŬĂŝƚĚĞŶŐĂŶďĂƌĂŶŐŵŽĚĂůLJĂŶŐ
ŵĂƐŝŚƉƌŽĚƵŬƚŝĨŚĂŶLJĂƵŶƚƵŬƉĞƌďĂŝŬĂŶĚĂŶƉĞŵĞůŝŚĂƌĂĂŶĂƚĂƐďĂƌĂŶŐŵŽĚĂůLJĂŶŐƚĞůĂŚĚŝŵŝůŝŬŝWĞƌƐĞƌŽĂŶ͘
^ƵŵďĞƌƉĞŶĚĂŶĂĂŶƵŶƚƵŬƉĞŵďĞůŝĂŶďĂƌĂŶŐŵŽĚĂůƵŵƵŵŶLJĂĚŝďŝĂLJĂŝĚĂƌŝůĂďĂLJĂŶŐĚŝŚĂƐŝůŬĂŶĚĂƌŝĂŬƚŝǀŝƚĂƐ
ŽƉĞƌĂƐŝŽŶĂů WĞƌƐĞƌŽĂŶ͘ WĞŵďĞůŝĂŶ ďĂƌĂŶŐ ŵŽĚĂů ƐĞůƵƌƵŚŶLJĂ ŵĞŶŐŐƵŶĂŬĂŶ ƐƵŵďĞƌ ƉĞŶĚĂŶĂĂŶ ZƵƉŝĂŚ LJĂŶŐ
ƚŝĚĂŬ ƉĞƌůƵ ĚŝůĂŬƵŬĂŶ ůŝŶĚƵŶŐ ŶŝůĂŝ͘ WĞŵďĞůŝĂŶ ďĂƌĂŶŐ ŵŽĚĂů ĚŝůĂŬƵŬĂŶ ĚĂůĂŵ ďĂƚĂƐ LJĂŶŐ ƐĞƐƵĂŝ ĚĞŶŐĂŶ
ŬĞŵĂŵƉƵĂŶĚĂŶĂƌƵƐŬĂƐWĞƌƐĞƌŽĂŶƐĞŚŝŶŐŐĂƚŝĚĂŬŵĞŶŐŐĂŶŐŐƵŬŝŶĞƌũĂŬĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶ͘
<ĞďŝũĂŬĂŶ WĞƌƐĞƌŽĂŶ ĚĂůĂŵ ƉĞŶŐĂŵďŝůĂŶ ŬĞƉƵƚƵƐĂŶ ƚĞƌŚĂĚĂƉ ƉĞŶŐĂĚĂĂŶ ďĂƌĂŶŐ ŵŽĚĂů͕ ĂŬĂŶ ďĞƌŽƌŝĞŶƚĂƐŝ
ŬĞƉĂĚĂƉĞŶŝŶŐŬĂƚĂŶŬŝŶĞƌũĂWĞƌƐĞƌŽĂŶ͕ĚĞŶŐĂŶƉĞŵďĞůŝĂŶďĂƌĂŶŐŵŽĚĂůĚĂƉĂƚĚŝůĂŬƵŬĂŶŽƉƚŝŵĂůŝƐĂƐŝƉƌŽƐĞƐ
ĚĂŶƉƌŽƐĞĚƵƌŬĞƌũĂ͕ĚŝĂŶƚĂƌĂŶLJĂĂĚĂůĂŚŵĞŵƉĞƌŬƵĂƚũĂƌŝŶŐĂŶƚĞŬŶŽůŽŐŝŝŶĨŽƌŵĂƐŝĚŝƐĞƚŝĂƉĐĂďĂŶŐƉĞƌƐĞƌŽĂŶ͕
LJĂŶŐŵĂŵƉƵŵĞŵďĞƌŝŬĂŶŝŶĨŽƌŵĂƐŝƐĞĐĂƌĂůĞďŝŚĐĞƉĂƚ͕ĂŬƵƌĂƚ͕ƚĞƌŬŝŶŝĚĂŶĚĂƉĂƚĚŝĂŶĚĂůŬĂŶ͘
/ŶǀĞƐƚĂƐŝĚĂůĂŵƉĞŶŐĞŵďĂŶŐĂŶũĂƌŝŶŐĂŶƚĞŬŶŽůŽŐŝŝŶĨŽƌŵĂƐŝ͕ƉĞŵĞůŝŚĂƌĂĂŶĚĂŶƉĞƌďĂŝŬĂŶŝŶŝĚŝŚĂƌĂƉŬĂŶĂŬĂŶ
ŵĞŶŝŶŐŬĂƚŬĂŶŬĂƉĂƐŝƚĂƐƉĞƌƐĞƌŽĂŶƐĞŚŝŶŐŐĂŵĞŶŝŶŐŬĂƚŬĂŶĞĨŝƐŝĞŶƐŝŽƉĞƌĂƐŝŽŶĂů͕ŬƵĂůŝƚĂƐůĂLJĂŶĂŶŶĂƐĂďĂŚĚĂŶ
ŵĞŵƉĞƌŬĞĐŝůƌŝƐŝŬŽŬĞƐĂůĂŚĂŶŝŶĨŽƌŵĂƐŝƵŶƚƵŬŵĞŶƵŶũĂŶŐŬŝŶĞƌũĂWĞƌƐĞƌŽĂŶ͘
WĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝŬŽŵŝƚŵĞŶŝŶǀĞƐƚĂƐŝďĂƌĂŶŐŵŽĚĂůĚĞŶŐĂŶƉŝŚĂŬŬĞƚŝŐĂŵĂƵƉƵŶƉŝŚĂŬďĞƌĞůĂƐŝƚĞƌŬĂŝƚ
ŝŶǀĞƐƚĂƐŝďĂƌĂŶŐŵŽĚĂůLJĂŶŐŵĂƚĞƌŝĂů͘
^ĂŵƉĂŝ ĚĞŶŐĂŶ ƚĂŶŐŐĂů WƌŽƐƉĞŬƚƵƐ ŝŶŝ ĚŝƚĞƌďŝƚŬĂŶ͕ ƚŝĚĂŬ ĂĚĂ ƉĞŶŐŝŬĂƚĂŶ LJĂŶŐ ďĞƌƐŝĨĂƚ ƐŝŐŶŝĨŝŬĂŶ ĚĂůĂŵ
ŵĞůĂŬƵŬĂŶďĞůĂŶũĂŵŽĚĂůLJĂŶŐďĞůƵŵƚĞƌĞĂůŝƐĂƐŝ͘
41
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:͘ Z/^/<K&>h<dh^/<hZ^DdhE'E^h<hhE'hEW/E:DE
&ůƵŬƚƵĂƐŝŬƵƌƐŵĂƚĂƵĂŶŐĂƐŝŶŐĚĂŶƐƵŬƵďƵŶŐĂĂĐƵĂŶƉŝŶũĂŵĂŶŵĞŵƉĞŶŐĂƌƵŚŝƚŝŶŐŬĂƚƉƌŽĨŝƚĂďŝůŝƚĂƐWĞƌƐĞƌŽĂŶ͕
ƐĞďĂďůĂďĂĂƚĂƵƌƵŐŝŬƵƌƐƐĞƌƚĂďĞďĂŶďƵŶŐĂLJĂŶŐƚĞƌũĂĚŝĚŝďĞďĂŶŬĂŶƉĂĚĂŽƉĞƌĂƐŝƚĂŚƵŶďĞƌũĂůĂŶ͕ĚŝŵĂŶĂŚĂů
ƚĞƌƐĞďƵƚŵĞŵƉĞŶŐĂƌƵŚŝŬĞĂĚĂĂŶŬĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶƉĂĚĂŵĂƐĂLJĂŶŐĂŬĂŶĚĂƚĂŶŐĚĞŶŐĂŶŵĞŶŐĞƐƚŝŵĂƐŝĂƌƵƐ
ŬĂƐĚĂŶƐĞůƵƌƵŚƉĞƌƐLJĂƌĂƚĂŶŬŽŶƚƌĂŬƚƵĂůĚĂůĂŵŝŶƐƚƌƵŵĞŶŬĞƵĂŶŐĂŶƚĞƌƐĞďƵƚ͘
WĞƌƐĞƌŽĂŶŵĞŶĞƌĂƉŬĂŶŬĞďŝũĂŬĂŶůŝŶĚƵŶŐŶŝůĂŝƚĞƌŚĂĚĂƉƐĞůƵƌƵŚ ƉŝŶũĂŵĂŶĚĂůĂŵŵĂƚĂƵĂŶŐĂƐŝŶŐLJĂŶŐƐƵŬƵ
ďƵŶŐĂŶLJĂƚĞůĂŚĚŝƚĞŶƚƵŬĂŶƚĞƌůĞďŝŚ ĚĂŚƵůƵŐƵŶĂŵĞƌĞĚĂŵŐĞũŽůĂŬĨŝŶĂŶƐŝĂůĂŬŝďĂƚǀŽůĂƚŝůŝƚĂƐŶŝůĂŝƚƵŬĂƌĂƚĂƵ
ƉĞƌƵďĂŚĂŶƐƵŬƵďƵŶŐĂƉĂƐĂƌ͘ĂůĂŵŵĞŶĞƌĂƉŬĂŶŬĞďŝũĂŬĂŶůŝŶĚƵŶŐŶŝůĂŝ͕WĞƌƐĞƌŽĂŶŵĞŶŐŐƵŶĂŬĂŶŝŶƐƚƌƵŵĞŶ
ŬĞƵĂŶŐĂŶĚĞƌŝǀĂƚŝĨ͕ƐĞƉĞƌƚŝĐƌŽƐƐĐƵƌƌĞŶĐLJƐǁĂƉĚĂŶŝŶƚĞƌĞƐƚƌĂƚĞƐǁĂƉƐĞďĂŐĂŝďĂŐŝĂŶĚĂƌŝĂŬƚŝǀŝƚĂƐŵĂŶĂũĞŵĞŶ
ĂƐĞƚ ĚĂŶ ůŝĂďŝůŝƚĂƐ ƵŶƚƵŬ ŵĞůŝŶĚƵŶŐŝ ĚĂŵƉĂŬ ƌŝƐŝŬŽ ŵĂƚĂ ƵĂŶŐ ĂƐŝŶŐ ĚĂŶ ƌŝƐŝŬŽ ƚŝŶŐŬĂƚ ƐƵŬƵ ďƵŶŐĂ ĚŝŵĂŶĂ
ƚƌĂŶƐĂŬƐŝĚĂůĂŵŵĂƚĂƵĂŶŐĂƐŝŶŐĚŝĐĂƚĂƚďĞƌĚĂƐĂƌŬĂŶŬƵƌƐLJĂŶŐďĞƌůĂŬƵƉĂĚĂƐĂĂƚƚƌĂŶƐĂŬƐŝĚŝůĂŬƵŬĂŶ͘
WĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝƉŝŶũĂŵĂŶĚĂŶƉĞƌŝŬĂƚĂŶĂƚĂƵŬŽŵŝƚŵĞŶƚĂŶƉĂƉƌŽƚĞŬƐŝLJĂŶŐĚŝŶLJĂƚĂŬĂŶĚĂůĂŵŵĂƚĂ
ƵĂŶŐĂƐŝŶŐ͕ĂƚĂƵƉŝŶũĂŵĂŶLJĂŶŐƐƵŬƵďƵŶŐĂŶLJĂƚŝĚĂŬĚŝƚĞŶƚƵŬĂŶƚĞƌůĞďŝŚĚĂŚƵůƵ͘
<͘ W Zh,E< /:<E<hEdE^/>DϮ;hͿd,hEd Z<,/ZW Z^ ZKE
ĨĞŬƚŝĨƉĂĚĂƚĂŶŐŐĂůϭ:ĂŶƵĂƌŝ ϮϬϮϯ͕WĞƌƐĞƌŽĂŶ ŵĞŶĞƌĂƉŬĂŶWĞƌŶLJĂƚĂĂŶ^ƚĂŶĚĂƌŬƵŶƚĂŶƐŝ<ĞƵĂŶŐĂŶ;W^<Ϳ
ƌĞǀŝƐŝLJĂŶŐĞĨĞŬƚŝĨƐĞũĂŬƚĂŶŐŐĂůƚĞƌƐĞďƵƚLJĂŝƚƵ͗
• ŵĞŶĚĞŵĞŶW^<Ϯϭϲ͗ƐĞƚdĞƚĂƉ–,ĂƐŝůƐĞďĞůƵŵWĞŶŐŐƵŶĂĂŶLJĂŶŐŝŝŶƚĞŶƐŝŬĂŶ
• ŵĞŶĚĞŵĞŶW^<ϮϬϭ͗WĞŶLJĂũŝĂŶ>ĂƉŽƌĂŶ<ĞƵĂŶŐĂŶdĞŶƚĂŶŐ<ůĂƐŝĨŝŬĂƐŝ>ŝĂďŝůŝƚĂƐƐĞďĂŐĂŝ:ĂŶŐŬĂWĞŶĚĞŬ
ĂƚĂƵ:ĂŶŐŬĂWĂŶũĂŶŐ
• ŵĂŶĚĞŵĞŶW^<ϮϬϭ͗WĞŶLJĂũŝĂŶůĂƉŽƌĂŶŬĞƵĂŶŐĂŶͲWĞŶŐƵŶŐŬĂƉĂŶ<ĞďŝũĂŬĂŶŬƵŶƚĂŶƐŝ
• ŵĂŶĚĞŵĞŶ W^< ϮϬϴ͗ <ĞďŝũĂŬĂŶ ŬƵŶƚĂŶƐŝ͕ WĞƌƵďĂŚĂŶ ƐƚŝŵĂƐŝ ŬƵŶƚĂŶƐŝ͕ ĚĂŶ <ĞƐĂůĂŚĂŶ Ͳ ĞĨŝŶŝƐŝ
ƐƚŝŵĂƐŝŬƵŶƚĂŶƐŝ
• ŵĂŶĚĞŵĞŶW^<ϮϭϮ͗WĂũĂŬWĞŶŐŚĂƐŝůĂŶͲWĂũĂŬdĂŶŐŐƵŚĂŶdĞƌŬĂŝƚƐĞƚĚĂŶ>ŝĂďŝůŝƚĂƐLJĂŶŐdŝŵďƵůĚĂƌŝ
dƌĂŶƐĂŬƐŝdƵŶŐŐĂů
ĨĞŬƚŝĨƚĂŶŐŐĂůϭ:ĂŶƵĂƌŝϮϬϮϰ͕ WĞƌƐĞƌŽĂŶŵĞŶĞƌĂƉŬĂŶWĞƌŶLJĂƚĂĂŶ^ƚĂŶĚĂƌŬƵŶƚĂŶƐŝ <ĞƵĂŶŐĂŶ;W^<ͿƌĞǀŝƐŝ
LJĂŶŐĞĨĞŬƚŝĨƐĞũĂŬƚĂŶŐŐĂůƚĞƌƐĞďƵƚLJĂŝƚƵ͗
• ŵĂŶĚĞŵĞŶW^<ϮϬϭ͗>ŝĂďŝůŝƚĂƐ:ĂŶŐŬĂWĂŶũĂŶŐĚĞŶŐĂŶ<ŽǀĞŶĂŶ
ŵĂŶĚĞŵĞŶŝŶŝŵĞŶĞŶƚƵŬĂŶƉĞƌƐLJĂƌĂƚĂŶƵŶƚƵŬŵĞŶŐŬůĂƐŝĨŝŬĂƐŝŬĂŶƐƵĂƚƵůŝĂďŝůŝƚĂƐƐĞďĂŐĂŝũĂŶŐŬĂƉĞŶĚĞŬ
ĂƚĂƵũĂŶŐŬĂƉĂŶũĂŶŐĚĂŶŵĞŶũĞůĂƐŬĂŶ͗
• ŚĂůLJĂŶŐĚŝŵĂŬƐƵĚƐĞďĂŐĂŝŚĂŬƵŶƚƵŬŵĞŶĂŶŐŐƵŚŬĂŶƉĞůƵŶĂƐĂŶ͕
• ŚĂŬƵŶƚƵŬŵĞŶĂŶŐŐƵŚŬĂŶƉĞůƵŶĂƐĂŶŚĂƌƵƐĂĚĂƉĂĚĂĂŬŚŝƌƉĞƌŝŽĚĞƉĞůĂƉŽƌĂŶ͕
• ŬůĂƐŝĨŝŬĂƐŝ ƚĞƌƐĞďƵƚ ƚŝĚĂŬ ĚŝƉĞŶŐĂƌƵŚŝ ŽůĞŚ ŬĞŵƵŶŐŬŝŶĂŶ ĞŶƚŝƚĂƐ ĂŬĂŶ ŵĞŶŐŐƵŶĂŬĂŶ ŚĂŬLJĂ ƵŶƚƵŬ
ŵĞŶĂŶŐŐƵŚŬĂŶůŝĂďŝůŝƚĂƐ͕ĚĂŶ
• ŚĂŶLJĂũŝŬĂĚĞƌŝǀĂƚŝĨŵĞůĞŬĂƚƉĂĚĂůŝĂďŝůŝƚĂƐŬŽŶǀĞƌƐŝƚĞƌƐĞďƵƚĂĚĂůĂŚƐƵĂƚƵŝŶƐƚƌƵŵĞŶƚ ĞŬƵŝƚĂƐ͕ŵĂŬĂ
ƐLJĂƌĂƚĚĂŶŬĞƚĞŶƚƵĂŶĚĂƌŝƐƵĂƚƵůŝĂďŝůŝƚĂƐŬŽŶǀĞƌƐŝƚŝĚĂŬĂŬĂŶďĞƌĚĂŵƉĂŬƉĂĚĂŬůĂƐŝĨŝŬĂƐŝŶLJĂ͘
^ĞůĂŝŶŝƚƵ͕ƉĞƌƐLJĂƌĂƚĂŶƚĞůĂŚĚŝƉĞƌŬĞŶĂůŬĂŶƵŶƚƵŬŵĞǁĂũŝďŬĂŶƉĞŶŐƵŶŐŬĂƉĂŶŬĞƚŝŬĂƐƵĂƚƵŬĞǁĂũŝďĂŶƚŝŵďƵů
ĚĂƌŝƉŝŶũĂŵĂŶƉĞƌũĂŶũŝĂŶĚŝŬůĂƐŝĨŝŬĂƐŝŬĂŶƐĞďĂŐĂŝƚŝĚĂŬůĂŶĐĂƌĚĂŶŚĂŬĞŶƚŝƚĂƐƵŶƚƵŬŵĞŶƵŶĚĂƉĞŶLJĞůĞƐĂŝĂŶ
ďĞƌŐĂŶƚƵŶŐƉĂĚĂŬĞƉĂƚƵŚĂŶƚĞƌŚĂĚĂƉƉĞƌƐLJĂƌĂƚĂŶĚŝŵĂƐĂĚĞƉĂŶĚĂůĂŵǁĂŬƚƵĚƵĂďĞůĂƐďƵůĂŶ͘
• ŵĂŶĚĞŵĞŶW^<ϭϭϲ͗>ŝĂďŝůŝƚĂƐ^ĞǁĂĚĂůĂŵ:ƵĂůĞůŝĚĂŶ^ĞǁĂͲďĂůŝŬ
ŵĂŶĚĞŵĞŶW^<ϭϭϲ^ĞǁĂŵĞŶĞƚĂƉŬĂŶƉĞƌƐLJĂƌĂƚĂŶLJĂŶŐĚŝŐƵŶĂŬĂŶƉĞŶũƵĂůͲƉĞŶLJĞǁĂĚĂůĂŵŵĞŶŐƵŬƵƌ
ŬĞǁĂũŝďĂŶƐĞǁĂLJĂŶŐƚŝŵďƵůĚĂůĂŵƚƌĂŶƐĂŬƐŝũƵĂůďĞůŝĚĂŶƐĞǁĂͲďĂůŝŬ͕ƵŶƚƵŬŵĞŵĂƐƚŝŬĂŶƉĞŶũƵĂůͲƉĞŶLJĞǁĂ
ƚŝĚĂŬŵĞŶŐĂŬƵŝũƵŵůĂŚƐĞƚŝĂƉŬĞƵŶƚƵŶŐĂŶĂƚĂƵŬĞƌƵŐŝĂŶLJĂŶŐƚĞƌŬĂŝƚĚĞŶŐĂŶŚĂŬŐƵŶĂLJĂŶŐĚŝƉĞƌƚĂŚĂŶŬĂŶ͘
• ŵĂŶĚĞŵĞŶW^<ϮϬϳĚĂŶW^<ϭϬϳ͗WĞŶŐĂƚƵƌĂŶWĞŵďŝĂLJĂĂŶWĞŵĂƐŽŬ
ŵĂŶĚĞŵĞŶW^<ϮϬϳĚĂŶW^<ϭϬϳŵĞŶŐŬůĂƌŝĨŝŬĂƐŝŬĂƌĂŬƚĞƌŝƐƚŝŬƉĞŶŐĂƚƵƌĂŶƉĞŵďŝĂLJĂĂŶƉĞŵĂƐŽŬĚĂŶ
ŵĞŶƐLJĂƌĂƚŬĂ ƉĞŶŐƵŶŐŬĂƉĂŶ ƚĂŵďĂŚĂŶ ĂƚĂƐ ƉĞŶŐĂƚƵƌĂ ƉĞŵďŝĂLJĂĂŶ ƉĞŵĂƐŽŬ ƚĞƌƐĞďƵƚ͘ WĞƌƐLJĂƌĂƚĂ
ƉĞŶŐƵŶŐŬĂƉĂŶĚĂůĂŵĂŵĂŶĚĞŵĞŶŝŶŝĚŝŵĂŬƐƵĚŬĂŶƵŶƚƵŬŵĞŵďĂŶƚƵƉĞŶŐŐƵŶůĂƉŽƌĂŶŬĞƵĂŶŐĂŶĚĂůĂŵ
42
Page 63
PT INDOMOBIL FINANCE INDONESIA
ŵĞŵĂŚĂŵŝĚĂŵƉĂƉĞŶŐĂƚƵƌĂŶƉĞŵďŝĂLJĂĂŶƉĞŵĂƐŽŬƚĞƌŚĂĚĂůŝĂďŝůŝƚĂƐ͕ĂƌƵƐŬĂƐ͕ĚĂŶĞŬƐƉŽƐƵƌƚĞƌŚĂĚĂƉ
ƌŝƐŝŬůŝŬƵŝĚŝƚĂƐƐƵĂƚƵĞŶƚŝƚĂƐ͘
WĞŶĞƌĂƉĂŶĚĂƌŝƐƚĂŶĚĂƌƌĞǀŝƐŝƚĞƌƐĞďƵƚƚŝĚĂŬŵĞŶŝŵďƵůŬĂŶƉĞƌƵďĂŚĂŶƐƵďƐƚĂŶƐŝĂůƚĞƌŚĂĚĂƉŬĞďŝũĂŬĂŶĂŬƵŶƚĂŶƐŝ
WĞƌƐĞƌŽĂŶĚĂŶƚŝĚĂŬďĞƌĚĂŵƉĂŬƐŝŐŶŝĨŝŬĂŶƚĞƌŚĂĚĂƉũƵŵůĂŚLJĂŶŐĚŝůĂƉŽƌŬĂŶƉĂĚĂƉĞƌŝŽĚĞďĞƌũĂůĂŶĂƚĂƵƉĞƌŝŽĚĞ
ƐĞďĞůƵŵŶLJĂ͘
WĞƌƵďĂŚĂŶ ŬĞďŝũĂŬĂŶ ĂŬƵŶƚĂŶƐŝ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ĚŝďƵĂƚ ƐĞƉĞƌƚŝ LJĂŶŐ ĚŝƐLJĂƌĂƚŬĂŶ͕ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ
ƚƌĂŶƐŝƐŝĚĂůĂŵŵĂƐŝŶŐͲŵĂƐŝŶŐƐƚĂŶĚĂƌĚĂŶŝŶƚĞƌƉƌĞƚĂƐŝ͘
dŝĚĂŬƚĞƌĚĂƉĂƚƉĞƌƵďĂŚĂŶŬĞďŝũĂŬĂŶĂŬƵŶƚĂŶƐŝĚĂůĂŵũĂŶŐŬĂǁĂŬƚƵϮ;ĚƵĂͿƚĂŚƵŶƚĞƌĂŬŚŝƌ͘
>͘ <KDWKE E W Ed/E' Z/ W EWdE dh E >/EEz zE' /E''W W Z>h K> ,
W Z^ ZKE>DZE'<D E' d,h/,^/>h^,W Z^ ZKE
WĞŶĚĂƉĂƚĂŶ ůĂŝŶŶLJĂ ƚĞƌĚŝƌŝ ĚĂƌŝ ƉĞŶĚĂƉĂƚĂŶ ĚĂƌŝ ƉŝƵƚĂŶŐ LJĂŶŐ ƚĞůĂŚ ĚŝŚĂƉƵƐŬĂŶ͕ ĚĞŶĚĂ ŬĞƚĞƌůĂŵďĂƚĂŶ ĚĂŶ
ƉŝŶĂůƚŝ͕ƉĞŶĚĂƉĂƚĂŶďƵŶŐĂ͕ůĂďĂƉĞŶũƵĂůĂŶĂƐĞƚƚĞƚĂƉ͕ĚĂŶƉĞŶĚĂƉĂƚĂŶůĂŝŶͲůĂŝŶ͘WĞŶĚĂƉĂƚĂŶĚĂƌŝƉŝƵƚĂŶŐLJĂŶŐ
ƚĞůĂŚ ĚŝŚĂƉƵƐŬĂŶ ĂĚĂůĂŚ ƉĞŶĚĂƉĂƚĂŶ LJĂŶŐ ŵƵŶŐŬŝŶ ƚĞƌũĂĚŝ ũŝŬĂ ƉŝƵƚĂŶŐ LJĂŶŐ ƐĞďĞůƵŵŶLJĂ ĚŝĂŶŐŐĂƉ ƚŝĚĂŬ
ŵƵŶŐŬŝŶĚŝƚĂŐŝŚ͕ƚĞƌŶLJĂƚĂďĞƌŚĂƐŝůĚŝƚĂŐŝŚƐĞƚĞůĂŚĚŝŚĂƉƵƐďƵŬƵŬĂŶ͘WĞŶĚĂƉĂƚĂŶĂĚŵŝŶŝƐƚƌĂƐŝĂĚĂůĂŚƉĞŶĚĂƉĂƚĂŶ
ĂƚĂƐũĂƐĂƉĞŵďŝĂLJĂĂŶLJĂŶŐĚŝƚĂŐŝŚŬĂŶŬĞƉĂĚĂĚĞďŝƚƵƌƉĂĚĂƐĂĂƚĨĂƐŝůŝƚĂƐƉĞŵďŝĂLJĂĂŶĚŝƐĞƚƵũƵŝĚĂŶͬĂƚĂƵ ƉĂĚĂ
ƐĂĂƚũĂƚƵŚƚĞŵƉŽĂŶŐƐƵƌĂŶ͘WĞŶĚĂƉĂƚĂŶĚĞŶĚĂŬĞƚĞƌůĂŵďĂƚĂŶĚŝŬĞŶĂŬĂŶŬĞƉĂĚĂŬŽŶƐƵŵĞŶLJĂŶŐŵĞŶƵŶŐŐĂŬ
ĚŝĂŬƵŝƉĂĚĂƐĂĂƚƌĞĂůŝƐĂƐŝ͘WĞŶĚĂƉĂƚĂŶƉŝŶĂůƚŝĚŝŬĞŶĂŬĂŶŬĞƉĂĚĂŬŽŶƐƵŵĞŶLJĂŶŐŵĞŶLJĞůĞƐĂŝŬĂŶŬŽŶƚƌĂŬƐĞďĞůƵŵ
ŵĂƐĂƉĞŵďŝĂLJĂĂŶďĞƌĂŬŚŝƌĚŝĂŬƵŝƉĂĚĂƐĂĂƚƌĞĂůŝƐĂƐŝ͘WĞŶĚĂƉĂƚĂŶďƵŶŐĂĂĚĂůĂŚƉĞŶĚĂƉĂƚĂŶLJĂŶŐďĞƌĂƐĂůĚĂƌŝ
ƌĞŬĞŶŝŶŐŐŝƌŽĚĂŶĚĞƉŽƐŝƚŽďĞƌũĂŶŐŬĂ͘>ĂďĂ ƉĞŶũƵĂůĂŶĂƐĞƚƚĞƚĂƉĂĚĂůĂŚŬĞƵŶƚƵŶŐĂŶLJĂŶŐĚŝĚĂƉĂƚŬĂŶŬĞƚŝŬĂ
ŚĂƌŐĂũƵĂůĂƐĞƚƚĞƚĂƉŵĞůĞďŝŚŝŶŝůĂŝďƵŬƵŶLJĂ͘^ĞůĂŝŶŝƚƵ͕ƉĞŶĚĂƉĂƚĂŶůĂŝŶͲůĂŝŶƚĞƌƵƚĂŵĂƚĞƌĚŝƌŝĚĂƌŝƉĞŶĚĂƉĂƚĂŶ
ĂĚŵŝŶŝƐƚƌĂƐŝůĂŝŶŶLJĂLJĂŶŐƚĞƌũĂĚŝƐĞƚĞůĂŚƚƌĂŶƐĂŬƐŝƚĞƌŬĂŝƚŬŽŶƚƌĂŬƉĞŵďŝĂLJĂĂŶ͘
D͘ >D ,> >WKZE < hE'E zE' D E'hE'<W<E W E/E'<dE zE' Dd Z/> Z/
W E:h>E dh W EWdE Z^/,͕ zE' D >/Whd/ W D,^E d EdE' ^ :h, DE
< E/<Ed Z^ hdWd/</d<E E'E< E/<E,Z'͕sK>hD dh:hD>,ZE'
dh :^ zE' /:h>͕ dh Ez WZKh< dh :^ Zh͕ /^ Zd/ hZ/E D E' E/
W Ez < E/<E,Z'dhsK>hD d Z^ hd
dŝĚĂŬĂĚĂƉĞŶŝŶŐŬĂƚĂŶLJĂŶŐŵĂƚĞƌŝĂůĚĂƌŝƉĞŶũƵĂůĂŶĂƚĂƵƉĞŶĚĂƉĂƚĂŶďĞƌƐŝŚĚĂůĂŵůĂƉŽƌĂŶŬĞƵĂŶŐĂŶLJĂŶŐƚĞůĂŚ
ĚŝĂƵĚŝƚƵŶƚƵŬƚĂŚƵŶͲƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯ͘
E͘ DW<W Zh,E,Z'd Z,WW EWdEEW EWdE Z^/,W Z^ ZKE^ Zd
>KW Z^/W Z^ ZKE^ >DϮ;hͿd,hEd Z<,/Z͕^ ZdDW</E&>^/EW Zh,E
<hZ^s>hd^/E'
WĞƌƵďĂŚĂŶ ŚĂƌŐĂ ;ƐƵŬƵ ďƵŶŐĂ ŬƌĞĚŝƚͿ͕ ƚŝŶŐŬĂƚ ŝŶĨůĂƐŝ ƚŝĚĂŬ ďĞƌĚĂŵƉĂŬ ƐŝŐŶŝĨŝŬĂŶ ƚĞƌŚĂĚĂƉ ƉĞŶĚĂƉĂƚĂŶ ĚĂŶ
ƉĞŶĚĂƉĂƚĂŶďĞƌƐŝŚƐĞƌƚĂůĂďĂŽƉĞƌĂƐŝWĞƌƐĞƌŽĂŶLJĂŶŐĚŝůĂƉŽƌŬĂŶĚĂůĂŵůĂƉŽƌĂŶ ŬĞƵĂŶŐĂŶLJĂŶŐƚĞůĂŚĚŝĂƵĚŝƚ
ƵŶƚƵŬƵŶƚƵŬƚĂŚƵŶ ͲƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂϯϭĞƐĞŵďĞƌ ϮϬϮϰĚĂŶ ϮϬϮϯ͘ŝƐĂŵƉŝŶŐŝƚƵƚĞƌŬĂŝƚĚĂŵƉĂŬ
ƉĞƌƵďĂŚĂŶŬƵƌƐǀĂůƵƚĂĂƐŝŶŐ͕WĞƌƐĞƌŽĂŶƐƵĚĂŚŵĞůĂŬƵŬĂŶĂŶƚŝƐŝƉĂƐŝĚĞŶŐĂŶƚĞůĂŚŵĞŶĞƚĂƉŬĂŶŬĞďŝũĂŬĂŶůŝŶĚƵŶŐ
ŶŝůĂŝ ƵŶƚƵŬ ƉŝŶũĂŵĂŶ LJĂŶŐ ĚŝƚĞƌŝŵĂ ĚĂůĂŵ ŵĂƚĂ ƵĂŶŐ ĂƐŝŶŐ͘ ĞŶŐĂŶ ƉŽůĂ ĂŬƚŝǀŝƚĂƐ ƵƐĂŚĂ LJĂŶŐ ĚŝũĂůĂŶŬĂŶ
WĞƌƐĞƌŽĂŶƐĂĂƚŝŶŝ͕ƌŝƐŝŬŽƚĞƌƐĞďƵƚƚĞƌŚĂĚĂƉWĞƌƐĞƌŽĂŶĂĚĂůĂŚŵŝŶŝŵĂů͘WĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵƉƵŶLJĂŝŬĞŐŝĂƚĂŶ
ƵƐĂŚĂƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶĚĂůĂŵŵĂƚĂƵĂŶŐĂƐŝŶŐ͘
K͘ :hD>,W/E:DEzE'D^/,d ZhdE'WdE''>>WKZE< hE'Ed Z<,/Z
ϯϭĞƐĞŵďĞƌϮϬϮϰ
ƵŶŐĂ <ƵƌĂŶŐĚĂƌŝϭ ϭͲϯƚĂŚƵŶ >ĞďŝŚĚĂƌŝϯ dŝĚĂŬĚŝŬĞŶĂŬĂŶ :ƵŵůĂŚ
DĞŶŐĂŵďĂŶŐ ƚĂŚƵŶ dĂŚƵŶ ďƵŶŐĂ
>//>/d^
hƚĂŶŐĂŶŬͲŶĞƚŽ ϭ͘ϲϲϵ͘ϲϱϬ ϯ͘ϳϲϱ͘ϴϳϳ ϯ͘ϳϳϭ͘ϳϰϴ Ͳ Ͳ ϵ͘ϮϬϳ͘Ϯϳϱ
ĞďĂŶĂŬƌƵĂů Ͳ Ͳ Ͳ Ͳ ϭϬϴ͘ϯϲϳ ϭϬϴ͘ϯϲϳ
43
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PT INDOMOBIL FINANCE INDONESIA
ϯϭĞƐĞŵďĞƌϮϬϮϰ
ƵŶŐĂ <ƵƌĂŶŐĚĂƌŝϭ ϭͲϯƚĂŚƵŶ >ĞďŝŚĚĂƌŝϯ dŝĚĂŬĚŝŬĞŶĂŬĂŶ :ƵŵůĂŚ
DĞŶŐĂŵďĂŶŐ ƚĂŚƵŶ dĂŚƵŶ ďƵŶŐĂ
hƚĂŶŐůĂŝŶͲůĂŝŶ Ͳ ϭϵ͘ϬϱϬ ϰϮϴ Ͳ ϭϵϳ͘ϳϰϰ Ϯϭϳ͘ϮϮϮ
hƚĂŶŐŽďůŝŐĂƐŝͲ Ͳ ϭ͘ϴϳϰ͘ϳϲϳ ϴϵϴ͘Ϯϵϯ
ŶĞƚŽ ϭ͘ϲϭϯ͘ϱϱϬ Ͳ ϰ͘ϯϴϲ͘ϲϭϬ
hƚĂŶŐ Ͳ
Ͳ Ϯϱ͘Ϯϯϱ ϱ͘ϱϯϱ Ͳ ϯϬ͘ϳϳϬ
ĚĞƌŝǀĂƚŝĨ
dŽƚĂůůŝĂďŝůŝƚĂƐ ϭ͘ϲϲϵ͘ϲϱϬ ϱ͘ϲϱϵ͘ϲϵϰ ϱ͘ϰϭϬ͘ϵϲϭ ϵϬϯ͘ϴϮϴ ϯϬϲ͘ϭϭϭ ϭϯ͘ϵϱϬ͘Ϯϰϰ
W͘ < :/EdhdZE^<^/zE'd/<EKZD>E:ZE'd Z:/zE'WdD DW E'Zh,/
:hD>,W EWdEEWZK&/d/>/d^W Z^ ZKE
dŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞũĂĚŝĂŶ ĂƚĂƵ ƚƌĂŶƐĂŬƐŝ LJĂŶŐ ƚŝĚĂŬ ŶŽƌŵĂů ĚĂŶ ũĂƌĂŶŐ ƚĞƌũĂĚŝ ĂƚĂƵ ƉĞƌƵďĂŚĂŶ ƉĞŶƚŝŶŐ ĚĂůĂŵ
ĞŬŽŶŽŵŝ LJĂŶŐ ĚĂƉĂƚ ŵĞŵƉĞŶŐĂƌƵŚŝ ũƵŵůĂŚ ƉĞŶĚĂƉĂƚĂŶ ĚĂŶ ƉƌŽĨŝƚĂďŝůŝƚĂƐ LJĂŶŐ ĚŝůĂƉŽƌŬĂŶ ĚĂůĂŵ ůĂƉŽƌĂŶ
ŬĞƵĂŶŐĂŶLJĂŶŐƚĞůĂŚĚŝĂƵĚŝƚƵŶƚƵŬƚĂŚƵŶϮϬϮϰĚĂŶϮϬϮϯ͘
Y͘ < /:<EW D Z/Ed,E/E^d/dh^/>/EEz
dŝĚĂŬƚĞƌĚĂƉĂƚŬĞďŝũĂŬĂŶƉĞŵĞƌŝŶƚĂŚĚĂŶŝŶƐƚŝƚƵƐŝůĂŝŶŶLJĂĚĂůĂŵ ďŝĚĂŶŐĨŝƐŬĂů͕ŵŽŶĞƚĞƌ͕ĞŬŽŶŽŵŝƉƵďůŝŬĚĂŶ
ƉŽůŝƚŝŬLJĂŶŐďĞƌĚĂŵƉĂŬůĂŶŐƐƵŶŐŵĂƵƉƵŶƚŝĚĂŬůĂŶŐƐƵŶŐƐĞĐĂƌĂŵĂƚĞƌŝĂůĚĂŶƐŝŐŶŝĨŝŬĂŶƚĞƌŚĂĚĂƉŬĞŐŝĂƚĂŶƵƐĂŚĂ
WĞƌƐĞƌŽĂŶLJĂŶŐƚĞƌĐĞƌŵŝŶĚŝůĂƉŽƌĂŶŬĞƵĂŶŐĂŶ͘
44
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PT INDOMOBIL FINANCE INDONESIA
s/͘ &<dKZZ/^/<K
^ĞďĂŐĂŝŵĂŶĂŚĂůŶLJĂĚĞŶŐĂŶďŝĚĂŶŐͲďŝĚĂŶŐƵƐĂŚĂůĂŝŶŶLJĂ͕ďŝĚĂŶŐƵƐĂŚĂLJĂŶŐĚŝũĂůĂŶŬĂŶWĞƌƐĞƌŽĂŶũƵŐĂƚŝĚĂŬ
ƚĞƌůĞƉĂƐĚĂƌŝƌŝƐŝŬŽLJĂŶŐĚŝƐĞďĂďŬĂŶŽůĞŚďĞƌďĂŐĂŝĨĂŬƚŽƌLJĂŶŐĚĂƉĂƚŵĞŵƉĞŶŐĂƌƵŚŝƐĞĐĂƌĂŶĞŐĂƚŝĨŬĞŐŝĂƚĂŶ
ƵƐĂŚĂWĞƌƐĞƌŽĂŶ͘ŝďĂǁĂŚŝŶŝĂĚĂůĂŚƌŝŶĐŝĂŶƌŝƐŝŬŽŵĂƚĞƌŝĂůLJĂŶŐŵĂŶĂĨĂŬƚŽƌƌŝƐŝŬŽƵƐĂŚĂĚĂŶƌŝƐŝŬŽƵŵƵŵƚĞůĂŚ
ĚŝƐƵƐƵŶďĞƌĚĂƐĂƌŬĂŶďŽďŽƚƌŝƐŝŬŽLJĂŶŐĚŝŚĂĚĂƉŝWĞƌƐĞƌŽĂŶĚĂůĂŵŵĞŶũĂůĂŶŬĂŶŬĞŐŝĂƚĂŶƵƐĂŚĂŶLJĂLJĂŶŐĚĂƉĂƚ
ŵĞŵƉĞŶŐĂƌƵŚŝŬŝŶĞƌũĂŵĂƵƉƵŶŚĂƌŐĂKďůŝŐĂƐŝWĞƌƐĞƌŽĂŶďĂŝŬƐĞĐĂƌĂůĂŶŐƐƵŶŐŵĂƵƉƵŶƚŝĚĂŬůĂŶŐƐƵŶŐ͗
͘ Z/^/<K hdD zE' D DWhEz/ W E'Zh, ^/'E/&/<E d Z,W < >E'^hE'E h^,
W Z^ ZKE
ZŝƐŝŬŽWĞŵďŝĂLJĂĂŶ;<ƌĞĚŝƚͿ
ĂůĂŵ ŵĞŶũĂůĂŶŬĂŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂŶLJĂ͕ WĞƌƐĞƌŽĂŶ ŵĞŶŐŚĂĚĂƉŝ ƌŝƐŝŬŽ ŬƌĞĚŝƚ LJĂŶŐ ŵĞƌƵƉĂŬĂŶ ƌŝƐŝŬŽ LJĂŶŐ
ŵĞůĞŬĂƚ ;ŝŶŚĞƌĞŶƚ ƌŝƐŬͿ ƉĂĚĂ ŬĞŐŝƚĂŶ ƵƐĂŚĂ WĞƌƐĞƌŽĂŶ ƐĞďĂŐĂŝ WĞƌƐĞƌŽĂŶ ŵƵůƚŝĨŝŶĂŶĐĞ͘ ZŝƐŝŬŽ ŬƌĞĚŝƚ
ĚŝĚĞĨŝŶŝƐŝŬĂŶ ƐĞďĂŐĂŝ ŬĞƚŝĚĂŬͲŵĂŵƉƵĂŶ ŬŽŶƐƵŵĞŶͬĚĞďŝƚƵƌ ƵŶƚƵŬ ŵĞŵďĂLJĂƌ ŬĞŵďĂůŝ ŬĞǁĂũŝďĂŶŶLJĂ ƉĂĚĂ
ƚĂŶŐŐĂůũĂƚƵŚƚĞŵƉŽ͕ďĂŝŬƉŽŬŽŬƉŝŶũĂŵĂŶĚĂŶͬĂƚĂƵďƵŶŐĂ͘ZŝƐŝŬŽŝŶŝƚŝŵďƵůũŝŬĂƉĞŶŐĞůŽůĂĂŶƌŝƐŝŬŽŬƌĞĚŝƚ
ƚŝĚĂŬĚŝůĂŬƵŬĂŶƐĞĐĂƌĂďĂŝŬĚĂŶƉƌƵĚĞŶƚ͕ƐĞŚŝŶŐŐĂŵĞŶLJĞďĂďŬĂŶƉĞŶŝŶŐŬĂƚĂŶďĞďĂŶƉŝƵƚĂŶŐ ƉĞŵďŝĂLJĂĂŶ
ƚĂŬƚĞƌƚĂŐŝŚ͘ZŝƐŝŬŽŝŶŝũƵŐĂďŝƐĂƚĞƌũĂĚŝŬĂƌĞŶĂŬĞƌƵŐŝĂŶŚĂƐŝůƉĞŶũƵĂůĂŶĂŬƚŝǀĂLJĂŶŐĚŝĂŵďŝůĂůŝŚĚŝďĂǁĂŚŶŝůĂŝ
ďƵŬƵƐĞŚŝŶŐŐĂĚĂƉĂƚŵĞŶŐŐĂŶŐŐƵƉĞŶĚĂƉĂƚĂŶͬŬŝŶĞƌũĂWĞƌƐĞƌŽĂŶ͘
ZŝƐŝŬŽWĞŶĚĂŶĂĂŶ
^ĞďĂŐĂŝ ƐĞďƵĂŚ WĞƌƐĞƌŽĂŶ LJĂŶŐ ďĞƌŐĞƌĂŬ Ěŝ ďŝĚĂŶŐ ƵƐĂŚĂ ƉĞŵďŝĂLJĂĂŶ͕ ŬĞŵĂŵƉƵĂŶ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ
ŵĞŶĚĂƉĂƚŬĂŶƐƵŵďĞƌƉĞŶĚĂŶĂĂŶĂĚĂůĂŚĨĂŬƚŽƌLJĂŶŐƐĂŶŐĂƚƉĞŶƚŝŶŐ͘dŝĚĂŬƚĞƌƐĞĚŝĂŶLJĂƐƵŵďĞƌƉĞŶĚĂŶĂĂŶ
ďĂŝŬďĞƌƵƉĂƉŝŶũĂŵĂŶŵĂƵƉƵŶƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂĂŬĂŶďĞƌĚĂŵƉĂŬƉĂĚĂƚƵƌƵŶŶLJĂƉĞƌƚƵŵďƵŚĂŶƵƐĂŚĂ
WĞƌƐĞƌŽĂŶ͘ ŝƐĂŵƉŝŶŐ ďĞƐĂƌŶLJĂ ŶŝůĂŝ ƉĞŶĚĂŶĂĂŶ͕ ĨĂŬƚŽƌ ůĂŝŶŶLJĂ LJĂŶŐ ũƵŐĂ ŵĞŶĞŶƚƵŬĂŶ ĂĚĂůĂŚ ĚƵƌĂƐŝ
ƉĞŶĚĂŶĂĂŶ͘ DĞŶŐŝŶŐĂƚ ũĂŶŐŬĂ ǁĂŬƚƵ ƉĞŵďŝĂLJĂĂŶ LJĂŶŐ ďĞƌǀĂƌŝĂƐŝ͕ ŵĂŬĂ ƐƵŵďĞƌ ƉĞŶĚĂŶĂĂŶ ŚĂƌƵƐ
ĚŝƐĞƐƵĂŝŬĂŶ ĚĞŶŐĂŶ ũĂŶŐŬĂ ǁĂŬƚƵ ƉĞŵďŝĂLJĂĂŶ͘ <ĞƚŝĚĂŬŵĂŵƉƵĂŶ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŵĞŶĚĂƉĂƚŬĂŶ ĚĂŶĂ
ĚĞŶŐĂŶũĂŶŐŬĂǁĂŬƚƵLJĂŶŐƐĞƐƵĂŝĚĞŶŐĂŶƉĞŵďŝĂLJĂĂŶĂŬĂŶŵĞŶŐĂŬŝďĂƚŬĂŶŬĞƚŝĚĂŬƐĞƐƵĂŝĂŶƉĞŶĚĂŶĂĂŶLJĂŶŐ
ƐĞůĂŶũƵƚŶLJĂĚĂƉĂƚŵĞŵƉĞŶŐĂƌƵŚŝƉĞƌŬĞŵďĂŶŐĂŶWĞƌƐĞƌŽĂŶ͘
͘ ZŝƐŝŬŽ hƐĂŚĂ zĂŶŐ ĞƌƐŝĨĂƚ DĂƚĞƌŝĂů ĂŝŬ ^ĞĐĂƌĂ >ĂŶŐƐƵŶŐ DĂƵƉƵŶ dŝĚĂŬ >ĂŶŐƐƵŶŐ zĂŶŐ ĂƉĂƚ
DĞŵƉĞŶŐĂƌƵŚŝ,ĂƐŝůhƐĂŚĂĂŶ<ŽŶĚŝƐŝ<ĞƵĂŶŐĂŶ
ϭ͘ ZŝƐŝŬŽWĞƌƐĂŝŶŐĂŶ
^ĞŬƚŽƌƵƐĂŚĂƉĞŵďŝĂLJĂĂŶ͕ƚĞƌƵƚĂŵĂƵŶƚƵŬƉĞŵďŝĂLJĂĂŶŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌŵĂŬŝŶĚŝŵŝŶĂƚŝŽůĞŚƉĂƌĂ
ŝŶǀĞƐƚŽƌ͕ŵĞŶŐŝŶŐĂƚŵĂƐŝŚďĞƐĂƌŶLJĂƉĂŶŐƐĂƉĂƐĂƌƉĂĚĂƐĞŬƚŽƌƵƐĂŚĂƉĞŵďŝĂLJĂĂŶŝŶŝ͘ĞƌĂůŝŚŶLJĂĨŽŬƵƐ
ďŝƐŶŝƐ ďĞďĞƌĂƉĂ WĞƌƐĞƌŽĂŶ ƉĞŵďŝĂLJĂĂŶ ĚĞŶŐĂŶ ŵĞŶŝƚŝŬďĞƌĂƚŬĂŶ ƉĂĚĂ ƐĞŬƚŽƌ ƵƐĂŚĂ ƉĞŵďŝĂLJĂĂŶ
ŬŽŶƐƵŵĞŶĂƚĂƐŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌƐĞƌƚĂŵĞŶŝŶŐŬĂƚŶLJĂƉĞŵďŝĂLJĂĂŶŬĞŶĚĂƌĂĂŶŽůĞŚďĂŶŬͲďĂŶŬĂŬĂŶ
ŵĞŶŝŵďƵůŬĂŶƚŝŶŐŬĂƚƉĞƌƐĂŝŶŐĂŶLJĂŶŐƐĞŵĂŬŝŶŬĞƚĂƚĚŝƐĞŬƚŽƌƵƐĂŚĂƉĞŵďŝĂLJĂĂŶŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌ
ŝŶŝƚĞƌƵƚĂŵĂƉĂĚĂƚŝŶŐŬĂƚƐƵŬƵďƵŶŐĂ͘ĂŵƉĂŬůĂŶŐƐƵŶŐĚĂƌŝƐĞŵĂŬŝŶƚŝŶŐŐŝŶLJĂƉĞƌƐĂŝŶŐĂŶŝŶŝĂƉĂďŝůĂ
ƚŝĚĂŬďŝƐĂĚŝƚĂŶŐŐƵůĂŶŐŝĂĚĂůĂŚĂŬĂŶŵĞŶƵƌƵŶŬĂŶƉĞŶĚĂƉĂƚĂŶĚĂŶƉĂŶŐƐĂƉĂƐĂƌWĞƌƐĞƌŽĂŶ͘
Ϯ͘ ZŝƐŝŬŽ/ŶǀĞƐƚĂƐŝĂƚĂƵŬƐŝ<ŽƌƉŽƌĂƐŝ
ZŝƐŝŬŽ/ŶǀĞƐƚĂƐŝĂƚĂƵŬƐŝ<ŽƌƉŽƌĂƐŝĂĚĂůĂŚƌŝƐŝŬŽLJĂŶŐĚŝƚŝŵďƵůŬĂŶƐĞďĂŐĂŝĂŬŝďĂƚĚĂƌŝĂŬƐŝŬŽƌƉŽƌĂƐŝLJĂŶŐ
ĚŝůĂŬƵŬĂŶ ŽůĞŚ WĞƌƐĞƌŽĂŶ LJĂŶŐ ďĞƌĚĂŵƉĂŬ ůĂŶŐƐƵŶŐ ƚĞƌŚĂĚĂƉ ŝŶǀĞƐƚŽƌ ĂƚĂƵ ƉĞŵĞŐĂŶŐ ƐĂŚĂŵ͘
WĞƌƐĞƌŽĂŶ ƐĂĂƚ ŝŶŝ ĚŝŬĞŶĚĂůŝŬĂŶ ĚĂŶ ĚŝŬĞůŽůĂ ŽůĞŚ ƉŝŚĂŬͲƉŝŚĂŬ ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌĐĂŶƚƵŵ ƉĂĚĂ Ăď s///
<ĞƚĞƌĂŶŐĂŶdĞŶƚĂŶŐWĞƌƐĞƌŽĂŶ͕<ĞŐŝĂƚĂŶhƐĂŚĂ͕<ĞĐĞŶĚĞƌƵŶŐĂŶĚĂŶWƌŽƐƉĞŬhƐĂŚĂ͘ŝŵĂƐĂLJĂŶŐĂŬĂŶ
ĚĂƚĂŶŐ͕ ĚĞŶŐĂŶ ŬŽŶĚŝƐŝ ďŝƐŶŝƐ Ěŝ /ŶĚŽŶĞƐŝĂ LJĂŶŐ ďĞƌƐŝĨĂƚ ĚŝŶĂŵŝƐ͕ ďĂŝŬ ƐĞŬƚŽƌ ƉĞŵďŝĂLJĂĂŶ͕ ŵĂƵƉƵŶ
ƐĞĐĂƌĂƵŵƵŵ͕ƚŝĚĂŬŵĞŶƵƚƵƉŬĞŵƵŶŐŬŝŶĂŶƐƵĂƚƵƐĂĂƚŶĂŶƚŝWĞƌƐĞƌŽĂŶĂŬĂŶŵĞŶŐĂĚĂŬĂŶĂŬƐŝŬŽƌƉŽƌĂƐŝ
LJĂŶŐ ĚĂƉĂƚ ŵĞŶŐĂŬŝďĂƚŬĂŶ ƉĞƌƵďĂŚĂŶ ƉĞŶŐĞŶĚĂůŝĂŶ͕ ƉĞƌƵďĂŚĂŶ ƉĞŶŐƵƌƵƐ ĚĂŶ ƉĞŶŐĂǁĂƐ͕ ŵĂƵƉƵŶ
ƉĞƌƵďĂŚĂŶ ĨŽŬƵƐ ďŝƐŶŝƐ WĞƌƐĞƌŽĂŶ͘ ĞŶŐĂŶ ƚĞƌũĂĚŝŶLJĂ ŚĂů ƚĞƌƐĞďƵƚ͕ ŬŝŶĞƌũĂ WĞƌƐĞƌŽĂŶ ƐĞĐĂƌĂ ŚŝƐƚŽƌŝƐ
ĂŬĂŶ ƐƵůŝƚ ƵŶƚƵŬ ĚŝŐƵŶĂŬĂŶƐĞďĂŐĂŝ ůĂŶĚĂƐĂŶ ĚĂůĂŵ ŵĞŵďƵĂƚ ƉĞƌŬŝƌĂĂŶͬƉƌŽLJĞŬƐŝ Ěŝ ŵĂƐĂ LJĂŶŐ ĂŬĂŶ
ĚĂƚĂŶŐ͘^ĞůĂŝŶŝƚƵ͕ũŝŬĂďŝƐŶŝƐWĞƌƐĞƌŽĂŶƐĞŵĂŬŝŶďĞƌŬĞŵďĂŶŐ͕ƚĞƌĚĂƉĂƚŬĞŵƵŶŐŬŝŶĂŶďĂŚǁĂWĞƌƐĞƌŽĂŶ
ĂŬĂŶďĞƌŝŶǀĞƐƚĂƐŝƉĂĚĂĞŶƚŝƚĂƐůĂŝŶ͕LJĂŶŐďĞƌŐĞƌĂŬĚĂůĂŵďŝĚĂŶŐũĂƐĂƉĞŵďŝĂLJĂĂŶ͕ďĞƌŬĂŝƚĂŶĚĞŶŐĂŶũĂƐĂ
45
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PT INDOMOBIL FINANCE INDONESIA
ƉĞŵďŝĂLJĂĂŶŵĂƵƉƵŶďŝĚĂŶŐƵƐĂŚĂLJĂŶŐƐĂŵĂƐĞŬĂůŝďĞƌďĞĚĂ͘,ĂůƚĞƌƐĞďƵƚďĞƌƉŽƚĞŶƐŝƵŶƚƵŬŵĞŵďƵĂƚ
ƉƌŽƐĞƐƉĞŶŐĞŵďĂŶŐĂŶďŝƐŶŝƐWĞƌƐĞƌŽĂŶLJĂŶŐƚĞůĂŚĚŝƌĞŶĐĂŶĂŬĂŶƐĂĂƚŝŶŝŵĞŶũĂĚŝƚŝĚĂŬƌĞůĞǀĂŶůĂŐŝ͘
ϯ͘ ZŝƐŝŬŽ<ĞŐĂŐĂůĂŶWĞƌƐĞƌŽĂŶĂůĂŵDĞŵĞŶƵŚŝWĞƌĂƚƵƌĂŶWĞƌƵŶĚĂŶŐͲhŶĚĂŶŐĂŶzĂŶŐĞƌůĂŬƵĚĂůĂŵ
/ŶĚƵƐƚƌŝWĞŵďŝĂLJĂĂŶ
ZŝƐŝŬŽ ƚŝĚĂŬ ƚĞƌƉĞŶƵŚŝŶLJĂ ƉĞƌĂƚƵƌĂŶ ƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ LJĂŶŐ ďĞƌůĂŬƵ ĚĂůĂŵ ŝŶĚƵƐƚƌŝ ƉĞŵďŝĂLJĂĂŶ
ŵĞŵďĞƌŝŬĂŶĚĂŵƉĂŬĂƚĂƐŬĞďĞƌůĂŶŐƐƵŶŐĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶ͕ƌŝƐŝŬŽLJĂŶŐƚŝŵďƵůŵƵůĂŝĚĂƌŝĂĚĂŶLJĂƐƵƌĂƚ
ƉĞƌŝŶŐĂƚĂŶ ĚĂƌŝ /ŶƐƚĂŶƐŝ ƚĞƌŬĂŝƚ ƐĂŵƉĂŝ ĚĞŶŐĂŶ ƉĞŵďĞŬƵĂŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ͘hŶƚƵŬ ŝƚƵ͕ WĞƌƐĞƌŽĂŶ
ŵĞŵŝůŝŬŝƐĂƚƵĂŶŬĞƌũĂŬĞƉĂƚƵŚĂŶĚĂŶĨƵŶŐƐŝůĂŝŶŶLJĂLJĂŶŐŵĞŶĚƵŬƵŶŐƉĞŵĞŶƵŚĂŶƌĞŐƵůĂƐŝLJĂŶŐďĞƌůĂŬƵ
ĚĂŶ ŵĞŶŐŝƌŝŵŬĂŶ >ĂƉŽƌĂŶ ƐĞĐĂƌĂ ƌĞŐƵůĞƌ ŬĞƉĂĚĂ ƌĞŐƵůĂƚŽƌ͘ ^ĞƌƚĂ WĞŶŐĞŶĚĂůŝĂŶ ZŝƐŝŬŽ <ĞƉĂƚƵŚĂŶ
ĚŝůĂŬƵŬĂŶ ƐĞĐĂƌĂ ĞĨĞŬƚŝĨ ĂŶƚĂƌĂ ůĂŝŶ ĚĞŶŐĂŶ ŵĞŶLJƵƐƵŶ ŬĞƚĞŶƚƵĂŶ dĂƚĂ <ĞůŽůĂ LJĂŶŐ ďĂŝŬ͕ ŬĞƚĞŶƚƵĂŶ
ďĞŶƚƵƌĂŶ ŬĞƉĞŶƚŝŶŐĂŶ ;ŽŶĨůŝĐƚ ŽĨ /ŶƚĞƌĞƐƚͿ͕ ƐĞƌƚĂ ŵĞŵĂƐƚŝŬĂŶ WĞƌƐĞƌŽĂŶ ƌĞƐƉŽŶƐŝĨ ƚĞƌŚĂĚĂƉ ƐƚĂŶĚĂƌ
LJĂŶŐďĞƌůĂŬƵƐĞĐĂƌĂƵŵƵŵ͕ŬĞƚĞŶƚƵĂŶ͕ĚĂŶͬĂƚĂƵƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͘
ϰ͘ ZŝƐŝŬŽWĞƌƵďĂŚĂŶdĞŬŶŽůŽŐŝ
WĞƌĂŶƚĞŬŶŽůŽŐŝ͕ŬŚƵƐƵƐŶLJĂƚĞŬŶŽůŽŐŝŝŶĨŽƌŵĂƐŝĚĂůĂŵŝŶĚƵƐƚƌŝƉĞŵďŝĂLJĂĂŶƐĂĂƚŝŶŝŵĞŵƉƵŶLJĂŝƉŽƐŝƐŝ
ĚĂŶĨƵŶŐƐŝLJĂŶŐƐĂŶŐĂƚƐƚƌĂƚĞŐŝƐ͕ŬĂƌĞŶĂďƵŬĂŶŚĂŶLJĂƐĞďĂŐĂŝƐĂƌĂŶĂƉĞŶĚƵŬƵŶŐ͕ƚĞŬŶŽůŽŐŝŝŶĨŽƌŵĂƐŝ
ũƵŐĂ ƐĞďĂŐĂŝ ƐƚƌĂƚĞŐŝĐ ĞŶĂďůĞƌ ďĂŐŝ ďŝƐŶŝƐ WĞƌƐĞƌŽĂŶ͘ :ŝŬĂ WĞƌƐĞƌŽĂŶ ůĂůĂŝ ĚĂůĂŵ ŵĞŶŐŽƉƚŝŵĂůŬĂŶ
ƚĞŬŶŽůŽŐŝ ŝŶĨŽƌŵĂƐŝ ƵŶƚƵŬ ŵĞŶĐĂƉĂŝ ŬĞƉƵĂƐĂŶ ŶĂƐĂďĂŚ͕ ŵĂŬĂ ŬĞůĂůĂŝĂŶ ƚĞƌƐĞďƵƚ ĂŬĂŶ ďĞƌĚĂŵƉĂŬ
ŶĞŐĂƚŝĨďĂŐŝŬŝŶĞƌũĂŽƉĞƌĂƐŝŽŶĂůWĞƌƐĞƌŽĂŶLJĂŶŐƉĂĚĂĂŬŚŝƌŶLJĂĚĂƉĂƚďĞƌĚĂŵƉĂŬŶĞŐĂƚŝĨũƵŐĂďĂŐŝŬŝŶĞƌũĂ
ŬĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶ͘
ϱ͘ ZŝƐŝŬŽ<ĞůĂŶŐŬĂĂŶ^ƵŵďĞƌĂLJĂ
ZŝƐŝŬŽ ŬĞůĂŶŐŬĂĂŶ ƐƵŵďĞƌ ĚĂLJĂ ĂĚĂůĂŚ ƌŝƐŝŬŽ LJĂŶŐ ĚŝƚŝŵďƵůŬĂŶ ĂƚĂƐ ŬŽŶĚŝƐŝ ĨĂŬƚŽƌ ĞŬƐƚĞƌŶĂů ƐĞƉĞƌƚŝ
ƚŝŶŐŬĂƚ ƉĞŶŐĂŶŐŐƵƌĂŶ͕ ƉĞƌƵďĂŚĂŶ ĚĞŵŽŐƌĂĨŝ͕ ƵƉĂŚ ŵŝŶŝŵƵŵ ĚĂŶ ƉĞƌĂƚƵƌĂŶ ŬĞƚĞŶĂŐĂŬĞƌũĂĂŶ ůĂŝŶ
ƚĞƌŬĂŝƚ ũĂŵ ŬĞƌũĂ ŵŝŶŝŵƵŵ ĚĂŶ ƉĞŵƵƚƵƐĂŶ ŚƵďƵŶŐĂŶ ŬĞƌũĂ ĚĂŶ ŚĂů ĞŬƚĞƌŶĂů ůĂŝŶŶLJĂ LJĂŶŐ ĚĂƉĂƚ
ŵĞŵƉĞŶŐĂƌƵŚŝŬŝŶĞƌũĂƉĞƌƐĞƌŽĂŶĚĂůĂŵŵĞŵĞŶƵŚŝŬĞďƵƚƵŚĂŶĚĂŶƉĞŶŐĞŶĚĂůŝĂŶďŝĂLJĂƐƵŵďĞƌĚĂLJĂ͘
ϲ͘ ZŝƐŝŬŽZĞƉƵƚĂƐŝ
ZŝƐŝŬŽ ZĞƉƵƚĂƐŝ ĂĚĂůĂŚ ZŝƐŝŬŽ ĂŬŝďĂƚ ŵĞŶƵƌƵŶŶLJĂ ƚŝŶŐŬĂƚ ŬĞƉĞƌĐĂLJĂĂŶ ƉĞŵĂŶŐŬƵ ŬĞƉĞŶƚŝŶŐĂŶ LJĂŶŐ
ďĞƌƐƵŵďĞƌĚĂƌŝƉĞƌƐĞƉƐŝŶĞŐĂƚŝĨƚĞƌŚĂĚĂƉWĞƌƐĞƌŽĂŶ͘ZŝƐŝŬŽƌĞƉƵƚĂƐŝƚŝŵďƵůĂŶƚĂƌĂůĂŝŶŬĂƌĞŶĂĂĚĂŶLJĂ
ƉĞŵďĞƌŝƚĂĂŶ ŵĞĚŝĂ ĚĂŶͬĂƚĂƵ ƌƵŵŽƌ ŵĞŶŐĞŶĂŝ WĞƌƐĞƌŽĂŶ LJĂŶŐ ďĞƌƐŝĨĂƚ ŶĞŐĂƚŝĨ͕ ƐĞƌƚĂ ƐƚƌĂƚĞŐŝ
ŬŽŵƵŶŝŬĂƐŝWĞƌƐĞƌŽĂŶLJĂŶŐŬƵƌĂŶŐĞĨĞŬƚŝĨ͕ƐĞŚŝŶŐŐĂŵĞŶŝŵďƵůŬĂŶĚĂŵƉĂŬŬĞƌƵŐŝĂŶďĂŐŝWĞƌƐĞƌŽĂŶ͘
ϳ͘ ZŝƐŝŬŽKƉĞƌĂƐŝŽŶĂů
ZŝƐŝŬŽŽƉĞƌĂƐŝŽŶĂůĂĚĂůĂŚƌŝƐŝŬŽLJĂŶŐĚŝŚĂĚĂƉŝWĞƌƐĞƌŽĂŶĂŬŝďĂƚŬĞƚŝĚĂŬĐƵŬƵƉĂŶĚĂŶƚŝĚĂŬďĞƌĨƵŶŐƐŝŶLJĂ
ƉƌŽƐĞƐ ŝŶƚĞƌŶĂů͕ ŬĞƐĂůĂŚĂŶ ŵĂŶƵƐŝĂ͕ ŬĞŐĂŐĂůĂŶ ƐŝƐƚĞŵ͕ ĚĂŶ ĂĚĂŶLJĂ ŬĞũĂĚŝĂŶ ĞŬƐƚĞƌŶĂů LJĂŶŐ
ŵĞŵĞŶŐĂƌƵŚŝ ŽƉĞƌĂƐŝŽŶĂů WĞƌƐĞƌŽĂŶ͘ ^ƵŵďĞƌͲƐƵŵďĞƌ ZŝƐŝŬŽ ƚĞƌƐĞďƵƚ ĚĂƉĂƚ ŵĞŶLJĞďĂďŬĂŶ ŬĞũĂĚŝĂŶ
LJĂŶŐďĞƌĚĂŵƉĂŬŶĞŐĂƚŝĨƉĂĚĂŽƉĞƌĂƐŝŽŶĂůWĞƌƐĞƌŽĂŶĚŝĂŶƚĂƌĂŶLJĂŬĞĐƵƌĂŶŐĂŶ;ĨƌĂƵĚŝŶƚĞƌŶĂůĚĂŶĨƌĂƵĚ
ĞŬƐƚĞƌŶĂůͿ ĚĂŶ ŐĂŶŐŐƵĂŶ ƚĞƌŚĂĚĂƉ ďŝƐŶŝƐ ĚĂŶ ŽƌŐĂŶŝƐĂƐŝ LJĂŶŐ ĂŬĂŶ ĚĂƉĂƚ ŵĞŵƉĞŶŐĂƌƵŚŝ ŬĞŐŝĂƚĂŶ
ŽƉĞƌĂƐŝWĞƌƐĞƌŽĂŶ͕ĚŝŵĂŶĂƉĂĚĂĂŬŚŝƌŶLJĂĂŬĂŶŵĞŶƵƌƵŶŬĂŶŬŝŶĞƌũĂWĞƌƐĞƌŽĂŶ
͘ ZŝƐŝŬŽhŵƵŵ
ϭ͘ ZŝƐŝŬŽWĞƌĞŬŽŶŽŵŝĂŶ
ZŝƐŝŬŽ ƉĞƌĞŬŽŶŽŵŝĂŶ ŵĞƌƵƉĂŬĂŶ ƌŝƐŝŬŽ LJĂŶŐ ƚŝŵďƵů ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ ƉĞƌƵďĂŚĂŶ ŬŽŶĚŝƐŝ
ƉĞƌĞŬŽŶŽŵŝĂŶŶĂƐŝŽŶĂůƐĞĐĂƌĂƵŵƵŵƐĞƉĞƌƚŝƚŝŶŐŬĂƚƉĞƌƚƵŵďƵŚĂŶĞŬŽŶŽŵŝ͕ƚŝŶŐŬĂƚŝŶĨůĂƐŝĚĂŶƚŝŶŐŬĂƚ
ƐƵŬƵďƵŶŐĂ͘ZŝƐŝŬŽŝŶŝĚĂƉĂƚŵĞŵĞŶŐĂƌƵŚŝƐĞĐĂƌĂůĂŶŐƐƵŶŐŵĂƵƉƵŶƚŝĚĂŬůĂŶŐƐƵŶŐŬĞŐŝĂƚĂŶŽƉĞƌĂƐŝŽŶĂů
ĚĂŶƉĞŶĚĂƉĂƚĂŶWĞƌƐĞƌŽĂŶ͕ƐĞƉĞƌƚŝƉĞŶLJĂůƵƌĂŶŬƌĞĚŝƚ͕ŬƵĂůŝƚĂƐĂƐĞƚƉƌŽĚƵŬƚŝĨ͕ďŝĂLJĂƉĞŶĚĂŶĂĂŶLJĂŶŐ
ƐĞůĂŶũƵƚŶLJĂďĞƌĚĂŵƉĂŬŶĞŐĂƚŝĨƉĂĚĂŬĞŐŝĂƚĂŶŽƉĞƌĂƐŝŽŶĂůĚĂŶƉĞŶĚĂƉĂƚĂŶWĞƌƐĞƌŽĂŶ͘
Ϯ͘ ZŝƐŝŬŽWĞƌƵďĂŚĂŶ<ƵƌƐsĂůƵƚĂƐŝŶŐ
ZŝƐŝŬŽƉĞƌƵďĂŚĂŶŬƵƌƐĚĂƉĂƚďĞƌĚĂŵƉĂŬƉĂĚĂĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶWĞƌƐĞƌŽĂŶĚĂůĂŵǀĂůƵƚĂĂƐŝŶŐ͘^ĞůĂŝŶŝƚƵ
ƉĞŶƵƌƵŶĂŶ ŶŝůĂŝ ƚƵŬĂƌ ŵĂƚĂ ƵĂŶŐ ZƵƉŝĂŚ ƚĞƌŚĂĚĂƉ ǀĂůƵƚĂ ĂƐŝŶŐ ĂŬĂŶ ďĞƌĚĂŵƉĂŬ ůĂŶŐƐƵŶŐ ƚĞƌŚĂĚĂƉ
ƉĞŶŝŶŐŬĂƚĂŶ ŚĂƌŐĂ ũƵĂů ŬĞŶĚĂƌĂĂŶ ďĞƌŵŽƚŽƌ͕ ĚĂŶ ďĞƌƉŽƚĞŶƐŝ ŵĞŶƵƌƵŶŬĂŶ ĚĂLJĂ ďĞůŝ ŵĂƐLJĂƌĂŬĂƚ͕
ƐĞŚŝŶŐŐĂ,ĂůƚĞƌƐĞďƵƚĚĂƉĂƚŵĞŶŐŚĂŵďĂƚƉĞƌƚƵŵďƵŚĂŶŬƌĞĚŝƚĂƚĂƵďĂŚŬĂŶŵĞŶƵƌƵŶŬĂŶŬĞŵĂŵƉƵĂŶ
ŵĂƐLJĂƌĂŬĂƚƵŶƚƵŬŵĞůƵŶĂƐŝƚƵŶŐŐĂŬĂŶƉĞŵďŝĂLJĂĂŶ͘
46
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PT INDOMOBIL FINANCE INDONESIA
ϯ͘ ZŝƐŝŬŽ <ĞƉĂƚƵŚĂŶ dĞƌŚĂĚĂƉ WĞƌĂƚƵƌĂŶ WĞƌƵŶĚĂŶŐͲhŶĚĂŶŐĂŶ LJĂŶŐ ĞƌůĂŬƵ dĞƌŬĂŝƚ ŝĚĂŶŐ hƐĂŚĂ
WĞƌƐĞƌŽĂŶ
ZŝƐŝŬŽ ŬĞƉĂƚƵŚĂŶ ŵĞƌƵƉĂŬĂŶ ƌŝƐŝŬŽ LJĂŶŐ ĚŝƐĞďĂďŬĂŶ ŬĂƌĞŶĂ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ŵĞŵĂƚƵŚŝ ĂƚĂƵ ƚŝĚĂŬ
ŵĞůĂŬƐĂŶĂŬĂŶ ƉĞƌĂƚƵƌĂŶ ƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ ĚĂŶ ŬĞƚĞŶƚƵĂŶ ůĂŝŶ LJĂŶŐ ĂŬĂŶ ďĞƌĚĂŵƉĂŬ ŬĞƉĂĚĂ
ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ WĞƌƐĞƌŽĂŶ͕ ƐĞƌƚĂ ŬƵƌĂŶŐ ĂƚĂƵ ƚŝĚĂŬ ĂĚĂŶLJĂ ƉĞŶŐĂǁĂƐĂŶ ƚĞƌŚĂĚĂƉ ŬĞƉĂƚƵŚĂŶ ŬĞƉĂĚĂ
ƉĞƌĂƚƵƌĂŶ ƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ ĚĂŶ ŬĞƚĞŶƚƵĂŶ ůĂŝŶ ĂŬĂŶ ďĞƌĚĂŵƉĂŬ ƉĂĚĂ ŬĞƌƵŐŝĂŶ LJĂŶŐ ĚĂƉĂƚ
ŵĞŶŝŵďƵůŬĂŶĚŝŬĞŶĂŬĂŶŶLJĂƐĂŶŬƐŝďĂŚŬĂŶƐĂŵƉĂŝĚŝĐĂďƵƚŶLJĂŝũŝŶƵƐĂŚĂWĞƌƐĞƌŽĂŶĚĂŶĂŬŚŝƌŶLJĂĂŬĂŶ
ďĞƌĚĂŵƉĂŬƉĂĚĂŬĞůĂŶŐƐƵŶŐĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶ͘
ϰ͘ ZŝƐŝŬŽ,ƵŬƵŵ
ZŝƐŝŬŽ ŚƵŬƵŵ ĂĚĂůĂŚ ƌŝƐŝŬŽ LJĂŶŐ ƚŝŵďƵů ŬĂƌĞŶĂ ŬĞƚŝĚĂŬŵĂŵƉƵĂŶ ŵĂŶĂũĞŵĞŶ WĞƌƐĞƌŽĂŶ ĚĂůĂŵ
ŵĞŶŐĞůŽůĂŵƵŶĐƵůŶLJĂƉĞƌŵĂƐĂůĂŚĂŶŚƵŬƵŵLJĂŶŐĚĂƉĂƚŵĞŶŝŵďƵůŬĂŶŬĞƌƵŐŝĂŶĂƚĂƵŬĞďĂŶŐŬƌƵƚĂŶďĂŐŝ
WĞƌƐĞƌŽĂŶ͘ZŝƐŝŬŽŚƵŬƵŵĂŶƚĂƌĂůĂŝŶĚĂƉĂƚďĞƌƐƵŵďĞƌĚĂƌŝƉĂĚĂŽƉĞƌĂƐŝŽŶĂů͕ƉĞƌũĂŶũŝĂŶĚĞŶŐĂŶƉŝŚĂŬ
ŬĞƚŝŐĂ͕ŬĞƚŝĚĂŬƉĂƐƚŝĂŶŚƵŬƵŵĚĂŶŬĞůĂůĂŝĂŶƉĞŶĞƌĂƉĂŶŚƵŬƵŵ͕ŚĂŵďĂƚĂŶ ĚĂůĂŵƉƌŽƐĞƐůŝƚŝŐĂƐŝƵŶƚƵŬ
ƉĞŶLJĞůĞƐĂŝĂŶ ŬůĂŝŵ͕ ƐĞƌƚĂ ŵĂƐĂůĂŚ LJƵƌŝƐĚŝŬƐŝ ĂŶƚĂƌ ŶĞŐĂƌĂ͘ ZŝƐŝŬŽ ŝŶŝ ĚĂƉĂƚ ƚŝŵďƵů ĚĂƌŝ ĂŬƚŝǀŝƚĂƐ
ƉĞŵďŝĂLJĂĂŶŵĂƵƉƵŶĂŬƚŝǀŝƚĂƐŽƉĞƌĂƐŝŽŶĂů͘
^ĞďĂŐĂŝ ƐĞďƵĂŚ WĞƌƐĞƌŽĂŶ LJĂŶŐ ďĞƌŐĞƌĂŬ Ěŝ ďŝĚĂŶŐ ƉĞŵďŝĂLJĂĂŶ͕ ŬĞŵĂŵƉƵĂŶ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ
ŵĞŵĂƐƚŝŬĂŶŬĞůĞŶŐŬĂƉĂŶĚĂŶŬĞŬƵĂƚĂŶŚƵŬƵŵĚĂůĂŵĂŬƚŝǀŝƚĂƐƉĞŵďŝĂLJĂĂŶĚĂŶĂŬƚŝǀŝƚĂƐŽƉĞƌĂƐŝŽŶĂů
ĂĚĂůĂŚĨĂŬƚŽƌLJĂŶŐƐĂŶŐĂƚƉĞŶƚŝŶŐ͘<ĞůĞŶŐŬĂƉĂŶĚĂŶŬĞŬƵĂƚĂŶŚƵŬƵŵLJĂŶŐĚŝŵŝůŝŬŝWĞƌƐĞƌŽĂŶĚĂůĂŵ
ŵĞŶũĂůĂŶŬĂŶ ĂŬƚŝǀŝƚĂƐ ƉĞŵďŝĂLJĂĂŶ ĚĂŶ ĂŬƚŝǀŝƚĂƐ ŽƉĞƌĂƐŝŽŶĂů ƐĂŶŐĂƚ ƚĞƌŐĂŶƚƵŶŐ ĚĂƌŝ ŬĞŵĂŵƉƵĂŶ
ŵĂŶĂũĞŵĞŶWĞƌƐĞƌŽĂŶĚĂůĂŵŵĞŵďƵĂƚĚĂŶŵĞŶĞƌĂƉŬĂŶƐƚĂŶĚĂƌͬƉĞƌƐLJĂƌĂƚĂŶLJĂŶŐĚŝƉĞƌůƵŬĂŶƐĞĐĂƌĂ
ŚƵŬƵŵ ƚĞƌŬĂŝƚ ĚĞŶŐĂŶ ĂŬƚŝǀŝƚĂƐ ƉĞŵďŝĂLJĂĂŶ ĚĂŶ ĂŬƚŝǀŝƚĂƐ ŽƉĞƌĂƐŝŽŶĂů ƚĞƌƐĞďƵƚ͘ dŝĚĂŬ ƚĞƌƐĞĚŝĂŶLJĂ
ŬĞůĞŶŐŬĂƉĂŶ ĚĂŶ ŬĞŬƵĂƚĂŶ ŚƵŬƵŵ ĂŬĂŶ ĚĂƉĂƚ ŵĞŶŝŵďƵůŬĂŶ ƚƵŶƚƵƚĂŶ ŚƵŬƵŵ LJĂŶŐ ďĞƌĚĂŵƉĂŬ ƉĂĚĂ
ŬĞƌƵŐŝĂŶ LJĂŶŐ ĂŬĂŶ ŵĞŶŝŵďƵůŬĂŶ ŬĞďĂŶŐŬƌƵƚĂŶ ĚĂŶ ĂŬŚŝƌŶLJĂ ĂŬĂŶ ďĞƌĚĂŵƉĂŬ ƉĂĚĂ ŬĞůĂŶŐƐƵŶŐĂŶ
ƵƐĂŚĂWĞƌƐĞƌŽĂŶ͘
ϱ͘ ZŝƐŝŬŽ<ĞďŝũĂŬĂŶWĞŵĞƌŝŶƚĂŚ
WĞƌƐĞƌŽĂŶ ƚƵŶĚƵŬ ƉĂĚĂ ďĞƌďĂŐĂŝ ƉĞƌĂƚƵƌĂŶ ĚĂŶ ŬĞďŝũĂŬĂŶ LJĂŶŐ ĚŝƚĞƚĂƉŬĂŶ ŽůĞŚ WĞŵĞƌŝŶƚĂŚ ĚĂŶ
KƚŽƌŝƚĂƐ ƚĞƌŬĂŝƚ͕ LJĂŶŐ ƐĞƚŝĂƉ ƐĂĂƚ ĚĂƉĂƚ ŵĞŶŐĞůƵĂƌŬĂŶ ŬĞďŝũĂŬĂŶͲŬĞďŝũĂŬĂŶ ĚĂŶͬĂƚĂƵ ƉĞƌĂƚƵƌĂŶͲ
ƉĞƌĂƚƵƌĂŶďĂƌƵĂƚĂƵŵĞŶŐƵďĂŚĂƚĂƵŵĞŶŐŚĂƉƵƐŬĞďŝũĂŬĂŶͲŬĞďŝũĂŬĂŶĚĂŶͬĂƚĂƵƉĞƌĂƚƵƌĂŶͲƉĞƌĂƚƵƌĂŶ
LJĂŶŐ ƚĞůĂŚ ĂĚĂ͘ WĞƌƵďĂŚĂŶ ƚĞƌƐĞďƵƚ ĚĂƉĂƚ ŵĞŵďĂǁĂ ƉĞŶŐĂƌƵŚ ŵĂƚĞƌŝĂů LJĂŶŐ ŬĞŵƵŶŐŬŝŶĂŶ ĚĂƉĂƚ
ŵĞŵƉĞŶŐĂƌƵŚŝďŝƐŶŝƐ͕ŬŽŶĚŝƐŝŬĞƵĂŶŐĂŶĚĂŶŬŝŶĞƌũĂƵƐĂŚĂWĞƌƐĞƌŽĂŶ͕ƐĞŚŝŶŐŐĂWĞƌƐĞƌŽĂŶĂŬĂŶƐĞůĂůƵ
ƌĞƐƉŽŶƐŝĨ ƚĞƌŚĂĚĂƉ ƉĞƌƵďĂŚĂŶ ŬĞďŝũĂŬĂŶ ƚĞƌƐĞďƵƚ LJĂŶŐ ŵĞŵƉƵŶLJĂŝ ĚĂŵƉĂŬ ĂŐĂƌ ƐĞĐĂƌĂ ĚŝŶĂŵŝƐ
ŵĂŵƉƵƵŶƚƵŬŵĞŶLJĞƐƵĂŝŬĂŶĚŝƌŝĚĞŶŐĂŶƉĞƌƵďĂŚĂŶͲƉĞƌƵďĂŚĂŶƚĞƌƐĞďƵƚ͘
ϲ͘ ZŝƐŝŬŽ<ĞƚĞŶƚƵĂŶĂƚĂƵWĞƌĂƚƵƌĂŶ/ŶƚĞƌŶĂƐŝŽŶĂů
<ĞƚĞŶƚƵĂŶ ĂƚĂƵ WĞƌĂƚƵƌĂŶ /ŶƚĞƌŶĂƐŝŽŶĂů ĚĂƉĂƚ ŵĞŵƉĞŶŐĂƌƵŚŝ <ŽŶĚŝƐŝ ĞŬŽŶŽŵŝ ŐůŽďĂů LJĂŶŐ ĚĂƉĂƚ
ďĞƌĚĂŵƉĂŬƉĂĚĂŝŬůŝŵĞŬŽŶŽŵŝĚĂůĂŵŶĞŐĞƌŝ͕ĚŝĂŶƚĂƌĂŶLJĂƌĞƐĞƐŝ͕ƉĞƌĂŶŐĚĂŐĂŶŐ͕ƚŝŶŐŬĂƚƐƵŬƵďƵŶŐĂ͕
ƉĂŶĚĞŵŝŬŐůŽďĂů͕ƐĞƌƚĂŝŶĨůĂƐŝ͘,ĂůƚĞƌƐĞďƵƚĚĂƉĂƚŵĞŵƉĞŶŐĂƌƵŚŝĂŬƚŝǀŝƚĂƐĞŬŽŶŽŵŝĚĂůĂŵŶĞŐĞƌŝLJĂŶŐ
ƉĂĚĂĂŬŚŝƌŶLJĂĂŬĂŶŵĞŵƉĞŶŐĂƌƵŚŝƵƐĂŚĂWĞƌƐĞƌŽĂŶ͘
͘ Z/^/<K/Es ^d^/zE' Z</dE E'EK>/'^/
ZŝƐŝŬŽLJĂŶŐĚŝŚĂĚĂƉŝŝŶǀĞƐƚŽƌƉĞŵďĞůŝKďůŝŐĂƐŝĂĚĂůĂŚ͗
ϭ͘ ZŝƐŝŬŽ ƚŝĚĂŬ ůŝŬƵŝĚŶLJĂ KďůŝŐĂƐŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ĚĂůĂŵ WĞŶĂǁĂƌĂŶ hŵƵŵ ŝŶŝ LJĂŶŐ ĂŶƚĂƌĂ ůĂŝŶ
ĚŝƐĞďĂďŬĂŶŬĂƌĞŶĂƚƵũƵĂŶƉĞŵďĞůŝĂŶKďůŝŐĂƐŝƐĞďĂŐĂŝŝŶǀĞƐƚĂƐŝũĂŶŐŬĂƉĂŶũĂŶŐ͘
Ϯ͘ ZŝƐŝŬŽŐĂŐĂůďĂLJĂƌĚŝƐĞďĂďŬĂŶŬĞŐĂŐĂůĂŶĚĂƌŝWĞƌƐĞƌŽĂŶƵŶƚƵŬŵĞůĂŬƵŬĂŶƉĞŵďĂLJĂƌĂŶďƵŶŐĂKďůŝŐĂƐŝ
ƐĞƌƚĂWŽŬŽŬKďůŝŐĂƐŝƉĂĚĂǁĂŬƚƵLJĂŶŐƚĞůĂŚĚŝƚĞƚĂƉŬĂŶ͕ĂƚĂƵŬĞŐĂŐĂůĂŶWĞƌƐĞƌŽĂŶƵŶƚƵŬŵĞŵĞŶƵŚŝ
ŬĞƚĞŶƚƵĂŶ ůĂŝŶ LJĂŶŐ ĚŝƚĞƚĂƉŬĂŶ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ LJĂŶŐ ŵĞƌƵƉĂŬĂŶ ĚĂŵƉĂŬ ĚĂƌŝ
ŵĞŵďƵƌƵŬŶLJĂŬŝŶĞƌũĂĚĂŶƉĞƌŬĞŵďĂŶŐĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶ͘
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s//͘ < :/E W Ed/E' ^ d >, dE''> >WKZE h/dKZ
/E W E E
Perseroan menyatakan bahwa tidak terdapat kejadian penting yang mempunyai dampak material dan relevan
setelah tanggal laporan keuangan Perseroan yang telah diaudit oleh KAP Purwantono, Sungkoro & Surja, Akuntan
Publik Independen, berdasarkan standar audit yang ditetapkan oleh IAPI dalam laporan audit tertanggal 15 Mei
2025 hingga Efektifnya Pernyataan Pendaftaran ini
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s///͘ < d ZE'E d EdE' W Z^ ZKE͕ < '/dE h^,͕
< E ZhE'EEWZK^W <h^,
ϭ͘ Z/tzd^/E'<dW Z^ ZKE
WĞƌƐĞƌŽĂŶ ĚŝĚŝƌŝŬĂŶ ĚĞŶŐĂŶ ŶĂŵĂ “PT INDOMARU MULTI FINANCE” ĚĂŶ ďĞƌŬĞĚƵĚƵŬĂŶ Ěŝ :ĂŬĂƌƚĂ dŝŵƵƌ͕
ďĞƌĚĂƐĂƌŬĂŶŬƚĂWĞƌƐĞƌŽĂŶdĞƌďĂƚĂƐWd/ŶĚŽŵĂƌƵDƵůƚŝ&ŝŶĂŶĐĞEŽ͘ϮƚĂŶŐŐĂůϭEŽƉĞŵďĞƌϭϵϵϯLJĂŶŐĚŝďƵĂƚ
ĚŝŚĂĚĂƉĂŶEƵƌƵů,ŝĚĂũĂƚŝ,ĂŶĚŽŬŽ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂĚĂŶƚĞůĂŚ͗;ŝͿŵĞŶĚĂƉĂƚŬĂŶƉĞŶŐĞƐĂŚĂŶĚĂƌŝDĞŶƚĞƌŝ
<ĞŚĂŬŝŵĂŶ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ďĞƌĚĂƐĂƌŬĂŶ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶŶLJĂ EŽ͘ ϮͲϭϰϯϲϴ͘,d͘Ϭϭ͘Ϭϭ͘d,͘ϵϯ ƚĂŶŐŐĂů
ϮϰĞƐĞŵďĞƌϭϵϵϯ͕;ŝŝͿĚŝĚĂĨƚĂƌŬĂŶƉĂĚĂƚĂŶŐŐĂůϭϭƉƌŝůϭϵϵϰĚĂůĂŵďƵŬƵƌĞŐŝƐƚĞƌƵŶƚƵŬŵĂŬƐƵĚŝƚƵLJĂŶŐďĞƌĂĚĂ
ĚŝWE:ĂŬĂƌƚĂdŝŵƵƌĚŝďĂǁĂŚEŽ͘ϭϵϭͬ>ĞŐͬϭϵϵϰ͕ĚĂŶ;ŝŝŝͿĚŝƵŵƵŵŬĂŶĚĂůĂŵdĂŵďĂŚĂŶEŽ͘ϵϲϰϬĚĂƌŝĞƌŝƚĂ
Negara Republik Indonesia (“EZ/”) No. 94 tanggal 25 Nopember 1994 (“ŬƚĂ WĞŶĚŝƌŝĂŶ”). ^ĞůĂŶũƵƚŶLJĂ͕
ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ WĞŵĞŐĂŶŐ ^ĂŚĂŵ Wd /ŶĚŽŵĂƌƵ DƵůƚŝ &ŝŶĂŶĐĞ ^ĞďĂŐĂŝ
WĞŶŐŐĂŶƚŝZĂƉĂƚhŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵ>ƵĂƌŝĂƐĂEŽ͘ϭϭϱƚĂŶŐŐĂůϮϳWĞďƌƵĂƌŝϮϬϬϯLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ
DƵŚĂŵŵĂĚ<ŚŽůŝĚƌƚŚĂ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂĚĂŶƚĞůĂŚ;ŝͿŵĞŶĚĂƉĂƚƉĞƌƐĞƚƵũƵĂŶĚĂƌŝDĞŶƚĞƌŝ<ĞŚĂŬŝŵĂŶ
ĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚ<ĞƉƵƚƵƐĂŶEŽ͘ͲϬϲϳϳϯ,d͘Ϭϭ͘Ϭϰ͘d,͘ϮϬϬϯƚĂŶŐŐĂů
ϮϴDĂƌĞƚϮϬϬϯ͕ƐĞƌƚĂ;ŝŝͿĚŝƵŵƵŵŬĂŶĚĂůĂŵdĂŵďĂŚĂŶEŽ͘ϰϳϴϴĚĂƌŝEZ/EŽ͘ϰϴƚĂŶŐŐĂůϭϳ:ƵŶŝϮϬϬϯ͕ŶĂŵĂ
perseroan telah dirubah menjadi bernama “PT Indomobil Finance Indonesia.”
WĂĚĂ ƚĂŶŐŐĂů ĚŝƚĞƌďŝƚŬĂŶŶLJĂ WƌŽƐƉĞŬƚƵƐ ŝŶŝ͕ ŶŐŐĂƌĂŶ ĂƐĂƌ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞŶŐĂůĂŵŝ ďĞďĞƌĂƉĂ ŬĂůŝ
ƉĞƌƵďĂŚĂŶĚĞŶŐĂŶĚĞŵŝŬŝĂŶŶŐŐĂƌĂŶĂƐĂƌWĞƌƐĞƌŽĂŶƚĞƌĂŬŚŝƌĂĚĂůĂŚƐĞďĂŐĂŝŵĂŶĂƚĞƌŵĂŬƚƵď ĚĂůĂŵŬƚĂ
WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ WĞŵĞŐĂŶŐ ^ĂŚĂŵ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ ƐĞďĂŐĂŝ WĞŶŐŐĂŶƚŝ ZĂƉĂƚ
hŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵEŽ͘ϮϲƚĂŶŐŐĂůϴ:ĂŶƵĂƌŝϮϬϮϰLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶDƵŚĂŵŵĂĚ<ŚŽůŝĚ͕^͘,͕͘EŽƚĂƌŝƐ
Ěŝ :ĂŬĂƌƚĂ͕ ĚĂŶ ƚĞůĂŚ ;ŝͿ ŵĞŶĚĂƉĂƚŬĂŶ ƉĞƌƐĞƚƵũƵĂŶ ĚĂƌŝ DĞŶƚĞƌŝ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ
/ŶĚŽŶĞƐŝĂďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚ<ĞƉƵƚƵƐĂŶŶLJĂEŽ͘,hͲϬϬϬϭϱϯϭ͘,͘Ϭϭ͘ϬϮ͘dĂŚƵŶϮϬϮϰƚĂŶŐŐĂůϭϬ:ĂŶƵĂƌŝϮϬϮϰ͕;ŝŝͿ
ĚŝďĞƌŝƚĂŚƵŬĂŶŬĞƉĂĚĂĚĂŶĚŝƚĞƌŝŵĂƐĞƌƚĂĚŝĐĂƚĂƚĚĂůĂŵĂƚĂďĂƐĞ^ŝƐŵŝŶďĂŬƵŵ<ĞŵĞŶƚĞƌŝĂŶ,ƵŬƵŵĚĂŶ,ĂŬ
ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌŶLJĂƚĂ ĚĂƌŝ ^ƵƌĂƚ WĞŶĞƌŝŵĂĂŶ WĞŵďĞƌŝƚĂŚƵŶĂŶ WĞƌƵďĂŚĂŶ
ĂƚĂWĞƌƐĞƌŽĂŶEŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϬϭϬϱϭϴƚĂŶŐŐĂůϭϬ:ĂŶƵĂƌŝϮϬϮϰ͕;ŝŝŝͿĚŝĚĂĨƚĂƌŬĂŶĚĂůĂŵĂĨƚĂƌWĞƌƐĞƌŽĂŶ
EŽ͘ ,hͲϬϬϬϱϭϲϬ͘,͘Ϭϭ͘ϭϭ͘dĂŚƵŶ ϮϬϮϰ ƉĂĚĂ ƚĂŶŐŐĂů ϭϬ :ĂŶƵĂƌŝ ϮϬϮϰ ŽůĞŚ DĞŶƚĞƌŝ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ
DĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ͕ƚĞůĂŚŵĞŶLJĞƚƵũƵŝƉĞƌƵďĂŚĂŶƌĞĚĂŬƐŝWĂƐĂůϯŶŐŐĂƌĂŶĂƐĂƌWĞƌƐĞƌŽĂŶƚĞŶƚĂŶŐ
DĂŬƐƵĚĚĂŶdƵũƵĂŶƐĞƌƚĂ<ĞŐŝĂƚĂŶhƐĂŚĂWĞƌƐĞƌŽĂŶ͕ƵŶƚƵŬĚŝƐĞƐƵĂŝŬĂŶĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶ<>/ϮϬϮϬĚĞŶŐĂŶ
ŵĞŵƉĞƌŚĂƚŝŬĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͘
WĞƌƵďĂŚĂŶͲƉĞƌƵďĂŚĂŶ ƚĞƌŚĂĚĂƉ ŶŐŐĂƌĂŶ ĂƐĂƌ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ĚŝůĂŬƐĂŶĂŬĂŶ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ
ŶŐŐĂƌĂŶĂƐĂƌWĞƌƐĞƌŽĂŶĚĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͘
<ĞŐŝĂƚĂŶhƐĂŚĂďĞƌĚĂƐĂƌŬĂŶŬƚĂWĞŶĚŝƌŝĂŶ͕ƐĞƐƵĂŝŬĞƚĞŶƚƵĂŶƉĂƐĂůϯŶŐŐĂƌĂŶĂƐĂƌ͕DĂŬƐƵĚĚĂŶdƵũƵĂŶ
WĞƌƐĞƌŽĂŶ ŝĂůĂŚ͗ Ͳ ŵĞŶũĂůĂŶŬĂŶ ƵƐĂŚĂͲƵƐĂŚĂ ĚŝďŝĚĂŶŐ ĐŽŶƐƵŵĞƌƐ ĨŝŶĂŶĐĞ ĂƚĂƵ ƉĞŵďŝĂLJĂĂŶ ŬŽŶƐƵŵĞŶ LJĂŝƚƵ
ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ƉĞŵďŝĂLJĂĂŶ ƵŶƚƵŬ ƉĞŶŐĂĚĂĂŶ ďĂƌĂŶŐ ďĞƌĚĂƐĂƌŬĂŶ ŬĞďƵƚƵŚĂŶ ŬŽŶƐƵŵĞŶ ĚĞŶŐĂŶ ƐŝƐƚŝŵ
ƉĞŵďĂLJĂƌĂŶĂŶŐƐƵƌĂŶĂƚĂƵďĞƌŬĂůĂŽůĞŚŬŽŶƐƵŵĞŶ͘hŶƚƵŬŵĞŶĐĂƉĂŝŵĂŬƐƵĚƚĞƌƐĞďƵƚĚŝĂƚĂƐWĞƌƐĞƌŽĂŶĚĂƉĂƚ
ďĞŬĞƌũĂƐĂŵĂĚĞŶŐĂŶƉĞƌƵƐĂŚĂĂͲƉĞƌƵƐĂŚĂĂŶůĂŝŶŶLJĂ
ĚĂƉƵŶƉĂĚĂƐĂĂƚƉĞŶĚŝƌŝĂŶ͕WĞƌƐĞƌŽĂŶũƵŐĂŵĞŵĞƉĞƌŽůĞŚŝnjŝŶƵƐĂŚĂWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶƵŶƚƵŬŵĞůĂŬƵŬĂŶ
ŬĞŐŝĂƚĂŶ ^ĞǁĂ 'ƵŶĂ hƐĂŚĂ͕ WĞŵďŝĂLJĂĂŶ <ŽŶƐƵŵĞŶ ĚĂŶ ŶũĂŬ WŝƵƚĂŶŐ ƐĞďĂŐĂŝŵĂŶĂ <ĞƉƵƚƵƐĂŶ DĞŶƚĞƌŝ
<ĞƵĂŶŐĂŶ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ EŽŵŽƌ < WͲϭϲϵͬ<D͘ϲͬϮϬϬϯ ƚĞŶƚĂŶŐ WĞƌƵďĂŚĂŶ ĂƚĂƐ <ĞƉƵƚƵƐĂŶ DĞŶƚĞƌŝ
<ĞƵĂŶŐĂŶEŽŵŽƌϲϭͬ<D<͘ϬϭϳͬϭϵϵϰdĞŶƚĂŶŐWĞŵďĞƌŝĂŶ/njŝŶhƐĂŚĂ>ĞŵďĂŐĂWĞŵďŝĂLJĂĂŶŬĞƉĂĚĂWd/ŶĚŽŵĂƌƵ
DƵůƚŝ &ŝŶĂŶĐĞ ƐĞďĂŐĂŝŵĂŶĂ ƚĞůĂŚ ĚŝƵďĂŚ ĚĞŶŐĂŶ <ĞƉƵƚƵƐĂŶ DĞŶƚĞƌŝ <ĞƵĂŶŐĂŶ EŽŵŽƌ ϮϮϯͬ<D<͘Ϭϭϳͬϭϵϵϳ
ƚĂŶŐŐĂůϭϮDĞŝϮϬϬϯ͘
<ĞŵƵĚŝĂŶŶŐŐĂƌĂŶĂƐĂƌWĞƌƐĞƌŽĂŶŵĞŶŐĂůĂŵŝďĞďĞƌĂƉĂŬĂůŝƉĞƌƵďĂŚĂŶ͕ƐĞŚŝŶŐŐĂDĂŬƐƵĚĚĂŶdƵũƵĂŶƐĞƌƚĂ
<ĞŐŝĂƚĂŶhƐĂŚĂƐĂĂƚŝŶŝƐĞƐƵĂŝĚĞŶŐĂŶŬƚĂWĞƌƐĞƌŽĂŶEŽŵŽƌϮϲdĂŶŐŐĂůϬϴ:ĂŶƵĂƌŝϮϬϮϰLJĂŝƚƵŵĞŶũĂĚŝƐĞďĂŐĂŝ
ďĞƌŝŬƵƚ͗
ϭ͘ DĂŬƐƵĚĚĂŶƚƵũƵĂŶWĞƌƐĞƌŽĂŶŝĂůĂŚŬƚŝǀŝƚĂƐ<ĞƵĂŶŐĂŶĚĂŶƐƵƌĂŶƐŝ;<ĂƚĞŐŽƌŝ<Ϳ͘
Ϯ͘ hŶƚƵŬŵĞŶĐĂƉĂŝŵĂŬƐƵĚĚĂŶƚƵũƵĂŶƚĞƌƐĞďƵƚĚŝĂƚĂƐ͕WĞƌƐĞƌŽĂŶĚĂƉĂƚŵĞůĂŬƐĂŶĂŬĂŶŬĞŐŝĂƚĂŶƵƐĂŚĂƐĞďĂŐĂŝ
ďĞƌŝŬƵƚ͗
Ă͘ WĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ<ŽŶǀĞŶƐŝŽŶĂů;ϲϰϵϭϭͿ͖
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DĞŶĐĂŬƵƉ ƵƐĂŚĂ ƉĞƌƵƐĂŚĂĂŶ ƉĞŵďŝĂLJĂĂŶ LJĂŶŐ ĚŝƐĞůĞŶŐŐĂƌĂŬĂŶ ƐĞĐĂƌĂ ŬŽŶǀĞŶƐŝŽŶĂů͕ ĚĞŶŐĂŶ
ŬĞŐŝĂƚĂŶƵƐĂŚĂŵĞůŝƉƵƚŝƉĞŵďŝĂLJĂĂŶďĂƌĂŶŐĚĂŶͬĂƚĂƵũĂƐĂ͕LJĂŝƚƵƉĞŵďŝĂLJĂĂŶŝŶǀĞƐƚĂƐŝ͖ƉĞŵďŝĂLJĂĂŶ
ŵŽĚĂůŬĞƌũĂ͖ƉĞŵďŝĂLJĂĂŶŵƵůƚŝŐƵŶĂ͖ĚĂŶͬĂƚĂƵŬĞŐŝĂƚĂŶƵƐĂŚĂƉĞŵďŝĂLJĂĂŶůĂŝŶ͘
ď͘ hŶŝƚhƐĂŚĂ^LJĂƌŝĂŚWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ;ϲϰϵϭϯͿ
DĞŶĐĂŬƵƉŬĞŐŝĂƚĂŶƵŶŝƚŬĞƌũĂĚĂƌŝŬĂŶƚŽƌƉƵƐĂƚƉĞƌƵƐĂŚĂĂŶƉĞŵďŝĂLJĂĂŶLJĂŶŐŵĞůĂŬƐĂŶĂŬĂŶŬĞŐŝĂƚĂŶ
ƉĞŵďŝĂLJĂĂŶ ƐLJĂƌŝĂŚ ĚĂŶͬĂƚĂƵ ďĞƌĨƵŶŐƐŝ ƐĞďĂŐĂŝ ŬĂŶƚŽƌ ŝŶĚƵŬ ĚĂƌŝ ŬĂŶƚŽƌ LJĂŶŐ ŵĞůĂŬƐĂŶĂŬĂŶ
ƉĞŵďŝĂLJĂĂŶƐLJĂƌŝĂŚ͘
<ĞŐŝĂƚĂŶ hƐĂŚĂ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŶŐŐĂƌĂŶ ĂƐĂƌ ĚĂŶͬĂƚĂƵ <>/ ĂĚĂůĂŚ WĞƌƵƐĂŚĂĂŶ WĞŵďŝĂLJĂĂŶ
<ŽŶǀĞŶƐŝŽŶĂů;ϲϰϵϭϭͿhŶŝƚhƐĂŚĂ^LJĂƌŝĂŚWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ;ϲϰϵϭϯͿ͕ŶĂŵƵŶŬĞŐŝĂƚĂŶƵƐĂŚĂLJĂŶŐƚĞůĂŚ
ďĞŶĂƌďĞŶĂƌĚŝũĂůĂŶŬĂŶƐĂĂƚŝŶŝĂĚĂůĂŚƉĞŵďŝĂLJĂĂŶŝŶǀĞƐƚĂƐŝ͕ƉĞŵďŝĂLJĂĂŶŵŽĚĂůŬĞƌũĂ͕ƉĞŵďŝĂLJĂĂŶŵƵůƚŝŐƵŶĂ͕
ƉĞŵďŝĂLJĂĂŶƐĞǁĂŽƉĞƌĂƐŝĚĂŶƉĞŵďŝĂLJĂĂŶƐLJĂƌŝĂŚ͘
ĞƌĚĂƐĂƌŬĂŶŬƚĂWĞŶĚŝƌŝĂŶ͕ƐƚƌƵŬƚƵƌƉĞƌŵŽĚĂůĂŶĚĂŶƐƵƐƵŶĂŶƉĞŵĞŐĂŶŐƐĂŚĂŵWĞƌƐĞƌŽĂŶƉĂĚĂƐĂĂƚƉĞŶĚŝƌŝĂŶ
ĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Nilai Nominal Rp1.000.000 Per Saham
Permodalan
Saham Jumlah Nilai Nominal (Rp)
Modal Dasar 8.000 8.000.000.000
Modal Ditempatkan & Disetor Penuh
PT Indomobil Investment Corporation 4.080 4.080.000.000
Marubeni Corporation 3.920 3.920.000.000
Jumlah 8.000 8.000.000.000
Jumlah Saham dalam Portepel 0 0
WĂĚĂƚĂŶŐŐĂůĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚƉĞƌƵďĂŚĂŶĂƚĂƐƐƚƌƵŬƚƵƌƉĞƌŵŽĚĂůĂŶĚĂŶƐƵƐƵŶĂŶ
ƉĞŵĞŐĂŶŐƐĂŚĂŵƐĞƌƚĂŬŽŵƉŽƐŝƐŝŬĞƉĞŵŝůŝŬĂŶƐĂŚĂŵĚĂůĂŵWĞƌƐĞƌŽĂŶĚĂůĂŵϮ;ĚƵĂͿƚĂŚƵŶƚĞƌĂŬŚŝƌ͘ĞŶŐĂŶ
ĚĞŵŝŬŝĂŶ ƐƚƌƵŬƚƵƌ ƉĞƌŵŽĚĂůĂŶ ĚĂŶ ƐƵƐƵŶĂŶ ƉĞŵĞŐĂŶŐ ƐĂŚĂŵ ƐĞƌƚĂ ŬŽŵƉŽƐŝƐŝ ŬĞƉĞŵŝůŝŬĂŶ ƐĂŚĂŵ ĚĂůĂŵ
WĞƌƐĞƌŽĂŶLJĂŶŐƚĞƌĂŬŚŝƌĂĚĂůĂŚƐĞďĂŐĂŝŵĂŶĂƚĞƌŵĂŬƚƵďĚĂůĂŵŬƚĂEŽ͘ϯϴͬϮϬϮϬ͕ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
EŝůĂŝEŽŵŝŶĂůZƉϭ͘ϬϬϬ͘ϬϬϬ͕ͲƐĞƚŝĂƉƐĂŚĂŵ
<ĞƚĞƌĂŶŐĂŶ
:ƵŵůĂŚ^ĂŚĂŵ :ƵŵůĂŚEŝůĂŝEŽŵŝŶĂů;ZƉͿ й
DŽĚĂůĂƐĂƌ Ϯ͘ϬϬϬ͘ϬϬϬ Ϯ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
DŽĚĂůŝƚĞŵƉĂƚŬĂŶΘŝƐĞƚŽƌWĞŶƵŚ
Wd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬ ϭ͘Ϭϰϭ͘ϬϱϮ ϭ͘Ϭϰϭ͘ϬϱϮ͘ϬϬϬ͘ϬϬϬ ϵϵ͕ϵϭ
Wd/D'^ĞũĂŚƚĞƌĂ>ĂŶŐŐĞŶŐ ϵϰϴ ϵϰϴ͘ϬϬϬ͘ϬϬϬ Ϭ͕Ϭϵ
:ƵŵůĂŚ ϭ͘ϬϰϮ͘ϬϬϬ ϭ͘ϬϰϮ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ ϭϬϬ͕ϬϬ
:ƵŵůĂŚ^ĂŚĂŵĂůĂŵWŽƌƚĞƉĞů ϵϱϴ͘ϬϬϬ ϵϱϴ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
Ϯ͘ < :/EW Ed/E'zE'D DW E'Zh,/W Z< DE'Eh^,W Z^ ZKE
dĂŚƵŶ <ĞƚĞƌĂŶŐĂŶ
ϭϵϵϯ WĞƌƐĞƌŽĂŶĚŝĚŝƌŝŬĂŶĚĞŶŐĂŶŶĂŵĂWd/ŶĚŽŵĂƌƵDƵůƚŝ&ŝŶĂŶĐĞ͘
ϮϬϬϬ • WĞƌƐĞƌŽĂŶďĞƌŐĂŶƚŝŬĞƉĞŵŝůŝŬĂŶĚĞŶŐĂŶWd/ŶĚŽŵŽďŝů^ƵŬƐĞƐ/ŶƚĞƌŶĂƐŝŽŶĂůdďŬƐĞďĂŐĂŝƉĞŵĞŐĂŶŐƐĂŚĂŵ
ŵĂLJŽƌŝƚĂƐ͕ŵĞŶŐƵĂƐĂŝϵϵ͕ϮϱйƐĂŚĂŵWĞƌƐĞƌŽĂŶ͕ƐĞĚĂŶŐŬĂŶƐŝƐĂŶLJĂƐĞďĂŶLJĂŬϬ͕ϳϱйĚŝƉĞŐĂŶŐŽůĞŚWd
/D'^ĞũĂŚƚĞƌĂ>ĂŶŐŐĞŶŐ;/D'^>Ϳ͘
• <ĂŶƚŽƌĐĂďĂŶŐƉĞƌƚĂŵĂWĞƌƐĞƌŽĂŶLJĂŶŐďĞƌůŽŬĂƐŝĚŝDd,ĂƌLJŽŶŽ:ĂŬĂƌƚĂĚŝƌĞƐŵŝŬĂŶ͘
ϮϬϬϯ WĞƌƐĞƌŽĂŶŵĞŶŐĂůĂŵŝƉĞƌƵďĂŚĂŶŶĂŵĂŵĞŶũĂĚŝWd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ͘
ϮϬϬϰ WĞŶĞƌďŝƚĂŶKďůŝŐĂƐŝWĞƌĚĂŶĂ;KďůŝŐĂƐŝ/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ/dĂŚƵŶϮϬϬϰĚĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉ
ͲKďůŝŐĂƐŝ/ͿƐĞŶŝůĂŝZƉϯϬϬŵŝůŝĂƌ͘
ϮϬϬϱ • Jingle “EZ For You” pertama kali diperkenalkan.
• ^ĞůƵƌƵŚĐĂďĂŶŐZϮĚĂŶZϰ/D&/;ϲϮĐĂďĂŶŐͿƚĞůĂŚƚĞƌŚƵďƵŶŐŬĞŬĂŶƚŽƌƉƵƐĂƚƐĞĐĂƌĂŽŶůŝŶĞ͘
ϮϬϬϲ • WĞƌŽůĞŚĂŶƉŝŶũĂŵĂŶƐŝŶĚŝŬĂƐŝƉĞƌƚĂŵĂƐĞďĞƐĂƌh^ϲϬũƵƚĂĚĂƌŝϭϮďĂŶŬĚĂƌŝĚĂůĂŵĚĂŶůƵĂƌŶĞŐĞƌŝƐĞƌƚĂ
ůĞŵďĂŐĂŬĞƵĂŶŐĂŶŝŶƚĞƌŶĂƐŝŽŶĂů͘
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dĂŚƵŶ <ĞƚĞƌĂŶŐĂŶ
• DĞŵƉĞƌŬĞŶĂůŬĂŶ /D&/ &ŝŶĂŶĐŝĂů ^ĞƌǀŝĐĞƐ ƐĞďĂŐĂŝ ŵĞƌĞŬ ĚĂŐĂŶŐ ƵŶƚƵŬ ƉĞŵďŝĂLJĂĂŶ ƉƌŽĚƵŬ ŶŽŶ
/ŶĚŽŵŽďŝů͘
ϮϬϬϴ DĞŶŐŝŵƉůĞŵĞŶƚĂƐŝŬĂŶsŝƌƚƵĂůĐĐŽƵŶƚƐĞďĂŐĂŝƉĂLJŵĞŶƚĐŚĂŶŶĞůĚŝ/D&/͘
• WĞƌƵďĂŚĂŶŶŐŐĂƌĂŶĂƐĂƌ/D&/WĂƐĂůDĂŬƐƵĚĚĂŶƚƵũƵĂŶƐĞƌƚĂŬĞŐŝĂƚĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶ͕LJĂŝƚƵƐĞďĂŐĂŝ
ďĞƌŝŬƵƚ͗
ϭ͘ DĂŬƐƵĚĚĂŶƚƵũƵĂŶWĞƌƐĞƌŽĂŶŝĂůĂŚďĞƌƵƐĂŚĂĚĂůĂŵďŝĚĂŶŐŵƵůƚŝƉĞŵďŝĂLJĂĂŶ͘
Ϯ͘ hŶƚƵŬ ŵĞŶĐĂƉĂŝ ŵĂŬƐƵĚ ĚĂŶ ƚƵũƵĂŶ ƚĞƌƐĞďƵƚ Ěŝ ĂƚĂƐ͕ WĞƌƐĞƌŽĂŶ ĚĂƉĂƚ ŵĞůĂŬƐĂŶĂŬĂŶ ŬĞŐŝĂƚĂŶ
ƵƐĂŚĂƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Ă͘ DĞŶũĂůĂŶŬĂŶ ƵƐĂŚĂͲƵƐĂŚĂ Ěŝ ďŝĚĂŶŐ ĐŽŶƐƵŵĞƌƐ ĨŝŶĂŶĐĞ ĂƚĂƵ ƉĞŵďŝĂLJĂĂŶ ŬŽŶƐƵŵĞŶ͕ LJĂŝƚƵ
ŬĞŐŝĂƚĂŶͲŬĞŐŝĂƚĂŶ ƉĞŵďŝĂLJĂĂŶ ƵŶƚƵŬ ƉĞŶŐĂĚĂĂŶ ďĂƌĂŶŐ ďĞƌĚĂƐĂƌŬĂŶ ŬĞďƵƚƵŚĂŶ ŬŽŶƐƵŵĞŶ
ĚĞŶŐĂŶƐŝƐƚĞŵƉĞŵďĂLJĂƌĂŶĂŶŐƐƵƌĂŶďĞƌŬĂůĂŽůĞŚŬŽŶƐƵŵĞŶ͖
ď͘ DĞŶũĂůĂŶŬĂŶ ƵƐĂŚĂͲƵƐĂŚĂ Ěŝ ďŝĚĂŶŐ ůĞĂƐŝŶŐ ĂƚĂƵ ƐĞǁĂ ŐƵŶĂ ƵƐĂŚĂ LJĂŝƚƵ͕ ŬĞŐŝĂƚĂŶͲŬĞŐŝĂƚĂŶ
ƉĞŵďŝĂLJĂĂŶ ĚĂůĂŵ ďĞŶƚƵŬ ƉĞŶLJĞĚŝĂĂŶ ďĂƌĂŶŐ ŵŽĚĂů ďĂŝŬ ƐĞĐĂƌĂ ĨŝŶĂŶĐĞ ůĞĂƐĞ ŵĂƵƉƵŶ
ŽƉĞƌĂƚŝŶŐ ůĞĂƐĞ ƵŶƚƵŬ ĚŝŐƵŶĂŬĂŶ ŽůĞŚ ƉĞŶLJĞǁĂ ŐƵŶĂ ƵƐĂŚĂ ƐĞůĂŵĂ ũĂŶŐŬĂ ǁĂŬƚƵ ƚĞƌƚĞŶƚƵ
ďĞƌĚĂƐĂƌŬĂŶ ƉĞŵďĂLJĂƌĂŶ ƐĞĐĂƌĂ ďĞƌŬĂůĂ͕ ĚŝƐĞƌƚĂ ĚĞŶŐĂŶ ŚĂŬ ƉŝůŝŚ ;ŽƉƚŝĞͿ ƵŶƚƵŬ ŵĞŵďĞůŝ
ďĂƌĂŶŐͲďĂƌĂŶŐ ŵŽĚĂů LJĂŶŐ ďĞƌƐĂŶŐŬƵƚĂŶ ĂƚĂƵ ŵĞŵƉĞƌƉĂŶũĂŶŐ ũĂŶŐŬĂ ǁĂŬƚƵ ůĞĂƐŝŶŐ ŝƚƵ
ďĞƌĚĂƐĂƌŬĂŶ ŶŝůĂŝ ƐŝƐĂ LJĂŶŐ ĚŝƐĞƉĂŬĂƚŝ ďĞƌƐĂŵĂ ƚĂŶƉĂ ŵĞŶŐƵƌĂŶŐŝ ƉĞƌĂƚƵƌĂŶ ƉĞƌƵŶĚĂŶŐͲ
ƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͖
Đ͘ DĞŶũĂůĂŶŬĂŶ ƵƐĂŚĂͲƵƐĂŚĂ Ěŝ ďŝĚĂŶŐ ĂŶũĂŬ ƉŝƵƚĂŶŐ ĂƚĂƵ ĨĂĐƚŽƌŝŶŐ LJĂŝƚƵ ŬĞŐŝĂƚĂŶͲŬĞŐŝĂƚĂŶ
ƉĞŵďŝĂLJĂĂŶ ĚĂůĂŵ ďĞŶƚƵŬ ƉĞŵďĞůŝĂŶ ĚĂŶͬĂƚĂƵ ƉĞŶŐĂůŝŚĂŶ ƐĞƌƚĂ ƉĞŶŐƵƌƵƐĂŶ ƉŝƵƚĂŶŐ ĂƚĂƵ
ƚĂŐŝŚĂŶũĂŶŐŬĂƉĞŶĚĞŬƐƵĂƚƵƉĞƌƵƐĂŚĂĂŶĚĂƌŝƚƌĂŶƐĂŬƐŝƉĞƌĚĂŐĂŶŐĂŶĚĂůĂŵĂƚĂƵůƵĂƌŶĞŐĞƌŝ͘
ϮϬϬϵ WĞŵďƵŬĂĂŶƐĞŬƚŽƌƉĞŵďŝĂLJĂĂŶďĂƌƵ͕LJĂŬŶŝƉĞŵďŝĂLJĂĂŶŬĞŶĚĂƌĂĂŶŬŽŵĞƌƐŝĂů͘
ϮϬϭϬ ŝǀĞƌƐŝĨŝŬĂƐŝƉƌŽĚƵŬƵŶƚƵŬƐĞŬƚŽƌƉĞŵďŝĂLJĂĂŶĂůĂƚͲĂůĂƚďĞƌĂƚ͘
ϮϬϭϭ WĞŶĂŵďĂŚĂŶŵŽĚĂůĚŝƐĞƚŽƌWĞƌƐĞƌŽĂŶƐĞďĞƐĂƌZƉϱϬϬŵŝůŝĂƌĚĂƌŝWd/ŶĚŽŵŽďŝů^ƵŬƐĞƐ/ŶƚĞƌŶĂƐŝŽŶĂůdďŬ͘
ϮϬϭϮ • WĞŵďƵŬĂĂŶůŝŶŝďŝƐŶŝƐďĂƌƵ͕LJĂŝƚƵhŶŝƚhƐĂŚĂ^LJĂƌŝĂŚ͘
• WĞŶĞƌďŝƚĂŶKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ/dĂŚĂƉ/ƐĞŶŝůĂŝZƉϭ͕ϯƚƌŝůŝƵŶ͘
• WĞƌƵďĂŚĂŶŶŐŐĂƌĂŶĂƐĂƌ/D&/WĂƐĂůDĂŬƐƵĚĚĂŶƚƵũƵĂŶƐĞƌƚĂŬĞŐŝĂƚĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶ͕LJĂŝƚƵĚĞŶŐĂŶ
ŵĞŶĂŵďĂŚŬĂŶƉŽŝŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
“DĞůĂŬƐĂŶĂŬĂŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ƉĞŵďŝĂLJĂĂŶ ďĞƌĚĂƐĂƌŬĂŶ ƉƌŝŶƐŝƉ ƐLJĂƌŝĂŚ LJĂŶŐ ŵĞůŝƉƵƚŝ ƐƵŵďĞƌ
ƉĞŶĚĂŶĂĂŶ͕ƉĞŶLJĂůƵƌĂŶĚĂŶĂĚĂŶͬĂƚĂƵŬĞŐŝĂƚĂŶůĂŝŶƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶLJĂŶŐĚŝƚĞƚĂƉŬĂŶŽůĞŚLJĂŶŐ
ďĞƌǁĞŶĂŶŐ͘”
ϮϬϭϯ • Wd /ŶĚŽŵŽďŝů DƵůƚŝ :ĂƐĂ dďŬ ŵĞŶŐĂŵďŝů ĂůŝŚ ƐĞůƵƌƵŚ ƐĂŚĂŵ WĞƌƐĞƌŽĂŶ ĂƚĂƵ ƐĞƚĂƌĂ ĚĞŶŐĂŶ ϱϵϵ͘ϮϱϬ
ůĞŵďĂƌƐĂŚĂŵLJĂŶŐĚŝŵŝůŝŬŝŽůĞŚWd/ŶĚŽŵŽďŝů^ƵŬƐĞƐ/ŶƚĞƌŶĂƐŝŽŶĂůdďŬ͘
• Meraih Rekor MURI “Tiup Lilin Ulang Tahun Serentak di Lokasi Terbanyak” dan “Donor Darah Serentak di
Lokasi Terbanyak” untuk perayaan 2 dekade IMFI.
ϮϬϭϱ • WĞŶĂŵďĂŚĂŶŵŽĚĂůĚŝƐĞƚŽƌWĞƌƐĞƌŽĂŶƐĞďĞƐĂƌZƉϱϬŵŝůŝĂƌĚĂƌŝWd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬĚĂŶWd/D'
^ĞũĂŚƚĞƌĂ>ĂŶŐŐĞŶŐ͘
• WĞŶĞƌďŝƚĂŶKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ//dĂŚĂƉ/ƐĞŶŝůĂŝZƉϱϬϬŵŝůŝĂƌ͘
• ŬƐƉĂŶƐŝďŝƐŶŝƐŵĞůĂůƵŝƉĞůƵŶĐƵƌĂŶƉƌŽĚƵŬƉĞŵďŝĂLJĂĂŶďĂƌƵƵŶƚƵŬƐĞŬƚŽƌƉƌŽƉĞƌƚŝ͘
• Meraih Rekor MURI “Pemotongan Tumpeng secara Serentak di Lokasi Terbanyak” dan “Akad Kredŝƚ
Pembiayaan secara Serentak dengan Guru di Lokasi Terbanyak”.
• WĞƌƵďĂŚĂŶŶŐŐĂƌĂŶĂƐĂƌ/D&/WĂƐĂůDĂŬƐƵĚĚĂŶƚƵũƵĂŶƐĞƌƚĂŬĞŐŝĂƚĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶ͕LJĂŝƚƵƐĞďĂŐĂŝ
ďĞƌŝŬƵƚ͗
• DĂŬƐƵĚĚĂŶƚƵũƵĂŶWĞƌƐĞƌŽĂŶŝĂůĂŚďĞƌƵƐĂŚĂĚĂůĂŵďŝĚĂŶŐƉĞŵďŝĂLJĂĂŶ͘
• hŶƚƵŬ ŵĞŶĐĂƉĂŝ ŵĂŬƐƵĚ ĚĂŶ ƚƵũƵĂŶ ƚĞƌƐĞďƵƚ Ěŝ ĂƚĂƐ͕ WĞƌƐĞƌŽĂŶ ĚĂƉĂƚ ŵĞůĂŬƐĂŶĂŬĂŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ
ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
• WĞŵďŝĂLJĂĂŶ/ŶǀĞƐƚĂƐŝLJĂŶŐĚŝůĂŬƵŬĂŶĚĞŶŐĂŶĐĂƌĂ͗
• ^ĞǁĂWĞŵďŝĂLJĂĂŶ;&ŝŶĂŶĐĞ>ĞĂƐĞͿ͖
• :ƵĂůĚĂŶ^ĞǁĂ–ĂůŝŬ;^ĂůĞƐĂŶĚ>ĞĂƐĞďĂĐŬͿ͖
• ŶũĂŬWŝƵƚĂŶŐĚĞŶŐĂŶWĞŵďĞƌŝĂŶ:ĂŵŝŶĂŶĚĂƌŝWĞŶũƵĂůWŝƵƚĂŶŐ;&ĂĐƚŽƌŝŶŐtŝƚŚZĞĐŽƵƌƐĞͿ͖
• WĞŵďĞůŝĂŶĚĞŶŐĂŶWĞŵďĂLJĂƌĂŶƐĞĐĂƌĂŶŐƐƵƌĂŶ͖
• WĞŵďŝĂLJĂĂŶWƌŽLJĞŬ͖
• WĞŵďŝĂLJĂĂŶ/ŶĨƌĂƐƚƌƵŬƚƵƌ͖ĚĂŶͬĂƚĂƵ
• WĞŵďŝĂLJĂĂŶůĂŝŶƐĞƚĞůĂŚƚĞƌůĞďŝŚĚĂŚƵůƵŵĞŶĚĂƉĂƚŬĂŶƉĞƌƐĞƚƵũƵĂŶKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶ͘
• WĞŵďŝĂLJĂĂŶDŽĚĂů<ĞƌũĂ͕LJĂŶŐĚŝůĂŬƵŬĂŶĚĞŶŐĂŶĐĂƌĂ͗
51
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PT INDOMOBIL FINANCE INDONESIA
dĂŚƵŶ <ĞƚĞƌĂŶŐĂŶ
• :ƵĂůĚĂŶ^ĞǁĂͲĂůŝŬ;^ĂůĞĂŶĚ>ĞĂƐĞďĂĐŬͿ͖
• ŶũĂŬWŝƵƚĂŶŐĚĞŶŐĂŶWĞŵďĞƌŝĂŶ:ĂŵŝŶĂŶĚĂƌŝWĞŶũƵĂůWŝƵƚĂŶŐ;&ĂĐƚŽƌŝŶŐtŝƚŚZĞĐŽƵƌƐĞͿ͖
• ŶũĂŬWŝƵƚĂŶŐdĂŶƉĂWĞŵďĞƌŝĂŶ:ĂŵŝŶĂŶĚĂƌŝWĞŶũƵĂůWŝƵƚĂŶŐ;&ĂĐƚŽƌŝŶŐtŝƚŚŽƵƚZĞĐŽƵƌƐĞͿ͖
• &ĂƐŝůŝƚĂƐDŽĚĂůhƐĂŚĂ͖ĚĂŶͬĂƚĂƵ
• WĞŵďŝĂLJĂĂŶůĂŝŶƐĞƚĞůĂŚƚĞƌůĞďŝŚĚĂŚƵůƵŵĞŶĚĂƉĂƚŬĂŶƉĞƌƐĞƚƵũƵĂŶKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶ͘
• WĞŵďŝĂLJĂĂŶDƵůƚŝŐƵŶĂ͕LJĂŶŐĚŝůĂŬƵŬĂŶĚĞŶŐĂŶĐĂƌĂ͗
• ^ĞǁĂWĞŵďŝĂLJĂĂŶ;&ŝŶĂŶĐŝĂů>ĞĂƐĞͿ͖
• WĞŵďĞůŝĂŶĚĞŶŐĂŶWĞŵďĂLJĂƌĂŶƐĞĐĂƌĂŶŐƐƵƌĂŶ͖ĚĂŶͬĂƚĂƵ
• WĞŵďŝĂLJĂĂŶůĂŝŶƐĞƚĞůĂŚƚĞƌůĞďŝŚĚĂŚƵůƵŵĞŶĚĂƉĂƚŬĂŶƉĞƌƐĞƚƵũƵĂŶKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶ͘
• ^ĞǁĂŽƉĞƌĂƐŝ;KƉĞƌĂƚŝŶŐ>ĞĂƐĞͿĚĂŶͬĂƚĂƵŬĞŐŝĂƚĂŶďĞƌďĂƐŝƐĨĞĞƐĞƉĂŶũĂŶŐƚŝĚĂŬďĞƌƚĞŶƚĂŶŐĂŶĚĞŶŐĂŶ
ƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶĚŝƐĞŬƚŽƌũĂƐĂŬĞƵĂŶŐĂŶ͘
• DĞůĂŬƐĂŶĂŬĂŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ƉĞŵďŝĂLJĂĂŶ ďĞƌĚĂƐĂƌŬĂŶ ƉƌŝŶƐŝƉ ƐLJĂƌŝĂŚ LJĂŶŐ ŵĞůŝƉƵƚŝ ƐƵŵďĞƌ
ƉĞŶĚĂŶĂĂŶ͕ƉĞŶLJĂůƵƌĂŶĚĂŶĂĚĂŶͬĂƚĂƵŬĞŐŝĂƚĂŶůĂŝŶƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶLJĂŶŐĚŝƚĞƚĂƉŬĂŶŽůĞŚLJĂŶŐ
ďĞƌǁĞŶĂŶŐ͘
ϮϬϭϳ • WĞůƵŶĐƵƌĂŶĂƉůŝŬĂƐŝŵŝĐƌŽĨŝŶĂŶĐŝŶŐ͘
• DĞƌĞƐŵŝŬĂŶŬĂŶƚŽƌƉƵƐĂƚ/D&/LJĂŶŐďĂƌƵĚŝ/ŶĚŽŵŽďŝůdŽǁĞƌ͘
• WĞŶĞƌďŝƚĂŶKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ///dĂŚĂƉ/ƐĞŶŝůĂŝZƉϱϬϬŵŝůŝĂƌ͘
ϮϬϭϴ Menggelar acara “IMFI Financing Expo 2018” di Gedung Indomobil Tower, Jakarta.
ϮϬϭϵ WĞŶĂŵďĂŚĂŶŵŽĚĂůĚŝƐĞƚŽƌWĞƌƐĞƌŽĂŶƐĞďĞƐĂƌZƉϮϰϮŵŝůŝĂƌĚĂƌŝWd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬ͘
• WĞƌƵďĂŚĂŶŶŐŐĂƌĂŶĂƐĂƌ/D&/WĂƐĂůDĂŬƐƵĚĚĂŶƚƵũƵĂŶƐĞƌƚĂŬĞŐŝĂƚĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶ͕LJĂŝƚƵƐĞďĂŐĂŝ
ďĞƌŝŬƵƚ͗
ϭ͘ DĂŬƐƵĚĚĂŶƚƵũƵĂŶWĞƌƐĞƌŽĂŶŝĂůĂŚďĞƌƵƐĂŚĂĚĂůĂŵďŝĚĂŶŐŵƵůƚŝƉĞŵďŝĂLJĂĂŶ͘
Ϯ͘ hŶƚƵŬŵĞŶĐĂƉĂŝŵĂŬƐƵĚĚĂŶƚƵũƵĂŶƚĞƌƐĞďƵƚĚŝĂƚĂƐ͕WĞƌƐĞƌŽĂŶĚĂƉĂƚŵĞůĂŬƐĂŶĂŬĂŶŬĞŐŝĂƚĂŶƵƐĂŚĂ
ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Ă͘ WĞŵďŝĂLJĂĂŶ/ŶǀĞƐƚĂƐŝ͕LJĂŶŐĚŝůĂŬƵŬĂŶĚĞŶŐĂŶĐĂƌĂ͗
ϭͿ ^ĞǁĂWĞŵďŝĂLJĂĂŶ;&ŝŶĂŶĐĞ>ĞĂƐĞͿ͖
ϮͿ :ƵĂůĚĂŶ^ĞǁĂ–ĂůŝŬ;^ĂůĞƐĂŶĚ>ĞĂƐĞďĂĐŬͿ͖
ϯͿ ŶũĂŬWŝƵƚĂŶŐĚĞŶŐĂŶWĞŵďĞƌŝĂŶ:ĂŵŝŶĂŶĚĂƌŝWĞŶũƵĂůWŝƵƚĂŶŐ;&ĂĐƚŽƌŝŶŐtŝƚŚZĞĐŽƵƌƐĞͿ͖
ϰͿ ŶũĂŬWŝƵƚĂŶŐdĂŶƉĂWĞŵďĞƌŝĂŶ:ĂŵŝŶĂŶĚĂƌŝWĞŶũƵĂůWŝƵƚĂŶŐ;&ĂĐƚŽƌŝŶŐtŝƚŚŽƵƚZĞĐŽƵƌƐĞͿ͖
ϱͿ WĞŵďĞůŝĂŶĚĞŶŐĂŶWĞŵďĂLJĂƌĂŶƐĞĐĂƌĂŶŐƐƵƌĂŶ͖
ϲͿ WĞŵďŝĂLJĂĂŶWƌŽLJĞŬ͖
ϳͿ WĞŵďŝĂLJĂĂŶ/ŶĨƌĂƐƚƌƵŬƚƵƌ͖ĚĂŶͬĂƚĂƵ
ϴͿ WĞŵďŝĂLJĂĂŶůĂŝŶƐĞƚĞůĂŚƚĞƌůĞďŝŚĚĂŚƵůƵŵĞŶĚĂƉĂƚŬĂŶƉĞƌƐĞƚƵũƵĂŶKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶ
;K:<Ϳ͘
ď͘ WĞŵďŝĂLJĂĂŶDŽĚĂů<ĞƌũĂ͕LJĂŶŐĚŝůĂŬƵŬĂŶĚĞŶŐĂŶĐĂƌĂ͗
ϭͿ :ƵĂůĚĂŶ^ĞǁĂͲĂůŝŬ;^ĂůĞĂŶĚ>ĞĂƐĞďĂĐŬͿ͖
ϮͿ ŶũĂŬWŝƵƚĂŶŐĚĞŶŐĂŶWĞŵďĞƌŝĂŶ:ĂŵŝŶĂŶĚĂƌŝWĞŶũƵĂůWŝƵƚĂŶŐ;&ĂĐƚŽƌŝŶŐtŝƚŚZĞĐŽƵƌƐĞͿ͖
ϯͿ ŶũĂŬWŝƵƚĂŶŐdĂŶƉĂWĞŵďĞƌŝĂŶ:ĂŵŝŶĂŶĚĂƌŝWĞŶũƵĂůWŝƵƚĂŶŐ;&ĂĐƚŽƌŝŶŐtŝƚŚŽƵƚZĞĐŽƵƌƐĞͿ͖
ϰͿ &ĂƐŝůŝƚĂƐDŽĚĂůhƐĂŚĂ͖ĚĂŶͬĂƚĂƵ
ϱͿ WĞŵďŝĂLJĂĂŶůĂŝŶƐĞƚĞůĂŚƚĞƌůĞďŝŚĚĂŚƵůƵŵĞŶĚĂƉĂƚŬĂŶƉĞƌƐĞƚƵũƵĂŶKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶ
;K:<Ϳ͘
Đ͘ WĞŵďŝĂLJĂĂŶDƵůƚŝŐƵŶĂ͕LJĂŶŐĚŝůĂŬƵŬĂŶĚĞŶŐĂŶĐĂƌĂ͗
ϭͿ ^ĞǁĂWĞŵďŝĂLJĂĂŶ;&ŝŶĂŶĐŝĂů>ĞĂƐĞͿ͖
ϮͿ WĞŵďĞůŝĂŶĚĞŶŐĂŶWĞŵďĂLJĂƌĂŶƐĞĐĂƌĂŶŐƐƵƌĂŶ͖
ϯͿ &ĂƐŝůŝƚĂƐĂŶĂ͖ĚĂŶͬĂƚĂƵ
ϰͿ WĞŵďŝĂLJĂĂŶůĂŝŶƐĞƚĞůĂŚƚĞƌůĞďŝŚĚĂŚƵůƵŵĞŶĚĂƉĂƚŬĂŶƉĞƌƐĞƚƵũƵĂŶKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶ
;K:<Ϳ͘
Ě͘ ^ĞǁĂ ŽƉĞƌĂƐŝ ;KƉĞƌĂƚŝŶŐ >ĞĂƐĞͿ ĚĂŶͬĂƚĂƵ ŬĞŐŝĂƚĂŶ ďĞƌďĂƐŝƐ ŝŵďĂů ũĂƐĂ ƐĞƉĂŶũĂŶŐ ƚŝĚĂŬ
ďĞƌƚĞŶƚĂŶŐĂŶĚĞŶŐĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶĚŝƐĞŬƚŽƌũĂƐĂŬĞƵĂŶŐĂŶ͘
Ğ͘ DĞůĂŬƐĂŶĂŬĂŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ƉĞŵďŝĂLJĂĂŶ ďĞƌĚĂƐĂƌŬĂŶ ƉƌŝŶƐŝƉ ƐLJĂƌŝĂŚ LJĂŶŐ ŵĞůŝƉƵƚŝ ƐƵŵďĞƌ
ƉĞŶĚĂŶĂĂŶ͕ƉĞŶLJĂůƵƌĂŶĚĂŶĂĚĂŶͬĂƚĂƵŬĞŐŝĂƚĂŶůĂŝŶƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶLJĂŶŐĚŝƚĞƚĂƉŬĂŶ
ŽůĞŚLJĂŶŐďĞƌǁĞŶĂŶŐ͘
ϮϬϮϬ • WĞŶĂŵďĂŚĂŶŵŽĚĂůĚŝƐĞƚŽƌWĞƌƐĞƌŽĂŶƐĞďĞƐĂƌZƉϭϱϬŵŝůŝĂƌĚĂƌŝWd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬĚĂŶWd/D'
^ĞũĂŚƚĞƌĂ>ĂŶŐŐĞŶŐ͘
• DĞŶŐŐĞůĂƌƉĂŵĞƌĂŶǀŝƌƚƵĂůpertamanya “IMFI Online Expo 2020” dalam rangka menyambut HUT IMFI
ŬĞͲϮϳ͘
• WĞŶĞƌďŝƚĂŶKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ/sdĂŚĂƉ/ƐĞŶŝůĂŝZƉϯϯϲŵŝůŝĂƌ͘
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dĂŚƵŶ <ĞƚĞƌĂŶŐĂŶ
ϮϬϮϭ Menggelar pameran virtual produk pembiayaan bertajuk “IMFI Virtual Expo Anniversary (IVORY)” dalam
ƌĂŶŐŬĂƉĞƌĂLJĂĂŶ,hd/D&/ŬĞͲϮϴ͘
ϮϬϮϮ • W &/EKŵĞŶĂŝŬŬĂŶƉĞƌŝŶŐŬĂƚWĞƌƐĞƌŽĂŶŵĞŶũĂĚŝŝĚн;ƐƚĂďůĞŽƵƚůŽŽŬͿ͘
• Meraih rekor MURI untuk “Pelatihan Literasi Digital Bermedia Sosial Secara Serentak oleh Pelajar
Terbanyak”.
• WĞŶĞƌďŝƚĂŶKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶsdĂŚĂƉ/ƐĞŶŝůĂŝZƉϲϬϬŵŝůŝĂƌ͘
ϮϬϮϯ • WĞƌŽůĞŚĂŶĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶƐŝŶĚŝŬĂƐŝƚĞƌďĞƐĂƌĚĞŶŐĂŶŶŝůĂŝƐĞďĞƐĂƌh^ϰϬϬũƵƚĂĚĂƌŝϯϯďĂŶŬĚĂƌŝĚĂůĂŵ
ĚĂŶůƵĂƌŶĞŐĞƌŝ͘
• DĞŶŐŐĞůĂƌƉĂŵĞƌĂŶƐĞĐĂƌĂŚLJďƌŝĚuntuk pertama kali bertajuk “OnlineͲKĨĨůŝŶĞ/D&/ĂŶĚĞĂůĞƌ džŚŝďŝƚŝŽŶ
(OLIMFIADE)” dalam rangka menyambut HUT IMFI keͲϯϬ͘
ϮϬϮϰ • W &/EKŵĞŶĂŝŬŬĂŶƉĞƌŝŶŐŬĂƚWĞƌƐĞƌŽĂŶŵĞŶũĂĚŝŝĚͲ;ƐƚĂďůĞŽƵƚůŽŽŬͿ
• WĞƌƵďĂŚĂŶŶŐŐĂƌĂŶĂƐĂƌ/D&/WĂƐĂůDĂŬƐƵĚĚĂŶƚƵũƵĂŶƐĞƌƚĂŬĞŐŝĂƚĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶ͕LJĂŝƚƵƐĞďĂŐĂŝ
ďĞƌŝŬƵƚ͗
ϭ͘ DĂŬƐƵĚĚĂŶƚƵũƵĂŶWĞƌƐĞƌŽĂŶŝĂůĂŚŬƚŝǀŝƚĂƐ<ĞƵĂŶŐĂŶĚĂŶƐƵƌĂŶƐŝ;<ĂƚĞŐŽƌŝ<Ϳ
Ϯ͘ hŶƚƵŬŵĞŶĐĂƉĂŝŵĂŬƐƵĚĚĂŶƚƵũƵĂŶƚĞƌƐĞďƵƚĚŝĂƚĂƐ͕WĞƌƐĞƌŽĂŶĚĂƉĂƚŵĞůĂŬƐĂŶĂŬĂŶŬĞŐŝĂƚĂŶƵƐĂŚĂ
ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Ă͘ WĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ<ŽŶǀĞŶƐŝŽŶĂů;ϲϰϵϭϭͿ
DĞŶĐĂŬƵƉ ƵƐĂŚĂ ƉĞƌƵƐĂŚĂĂŶ ƉĞŵďŝĂLJĂĂŶ LJĂŶŐ ĚŝƐĞůĞŶŐŐĂƌĂŬĂŶ ƐĞĐĂƌĂ ŬŽŶǀĞŶƐŝŽŶĂů͕ ĚĞŶŐĂŶ
ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ŵĞůŝƉƵƚŝ ƉĞŵďŝĂLJĂĂŶ ďĂƌĂŶŐ ĚĂŶͬĂƚĂƵ ũĂƐĂ͕ LJĂŝƚƵ ƉĞŵďŝĂLJĂĂŶ ŝŶǀĞƐƚĂƐŝ͖
ƉĞŵďŝĂLJĂĂŶŵŽĚĂůŬĞƌũĂ͖ƉĞŵďŝĂLJĂĂŶŵƵůƚŝŐƵŶĂ͖ĚĂŶͬĂƚĂƵŬĞŐŝĂƚĂŶƵƐĂŚĂƉĞŵďŝĂLJĂĂŶůĂŝŶ͘
ď͘ hŶŝƚhƐĂŚĂ^LJĂƌŝĂŚWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ;ϲϰϵϭϯͿ
DĞŶĐĂŬƵƉ ŬĞŐŝĂƚĂŶ ƵŶŝƚ ŬĞƌũĂ ĚĂƌŝ ŬĂŶƚŽƌ ƉƵƐĂƚ ƉĞƌƵƐĂŚĂĂŶ ƉĞŵďŝĂLJĂĂŶ LJĂŶŐ ŵĞůĂŬƐĂŶĂŬĂŶ
ŬĞŐŝĂƚĂŶ ƉĞŵďŝĂLJĂĂŶ ƐLJĂƌŝĂŚ ĚĂŶͬĂƚĂƵ ďĞƌĨƵŶŐƐŝ ƐĞďĂŐĂŝ ŬĂŶƚŽƌ ŝŶĚƵŬ ĚĂƌŝ ŬĂŶƚŽƌ LJĂŶŐ
ŵĞůĂŬƐĂŶĂŬĂŶƉĞŵďŝĂLJĂĂŶƐLJĂƌŝĂŚ͘
ϯ͘ W Z//EE
WĞƌƐĞƌŽĂŶ
ϭ͘ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞŵƉĞƌŽůĞŚ /njŝŶ hƐĂŚĂ WĞƌƵƐĂŚĂĂŶ WĞŵďŝĂLJĂĂŶ ďĞƌĚĂƐĂƌŬĂŶ <ĞƉƵƚƵƐĂŶ DĞŶƚĞƌŝ
<ĞƵĂŶŐĂŶZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂEŽ͘ϲϭͬ<D<͘ϬϭϳͬϭϵϵϰƚĂŶŐŐĂůϭϳ&ĞďƌƵĂƌŝϭϵϵϰ͕LJĂŶŐĚŝƵďĂŚĚĞŶŐĂŶ^ƵƌĂƚ
<ĞƉƵƚƵƐĂŶDĞŶƚĞƌŝ<ĞƵĂŶŐĂŶEŽ͘ϮϮϯͬ<D<͘ϬϭϳͬϭϵϵϳƚĂŶŐŐĂůϵDĞŝϭϵϵϳĚĂŶƚĞƌĂŬŚŝƌ ĚŝƵďĂŚĚĞŶŐĂŶ
^ƵƌĂƚ <ĞƉƵƚƵƐĂŶ DĞŶƚĞƌŝ <ĞƵĂŶŐĂŶ EŽ͘ < WͲϭϲϵͬ<D͘ϲͬϮϬϬϯ ƚĂŶŐŐĂů ϭϮ DĞŝ ϮϬϬϯ͘ ĞƌĚĂƐĂƌŬĂŶ ŝnjŝŶ
ƚĞƌƐĞďƵƚ͕WĞƌƵƐĂŚĂĂŶƐĞďĂŐĂŝ>ĞŵďĂŐĂWĞŵďŝĂLJĂĂŶ͕ĚĂƉĂƚŵĞůĂŬƵŬĂŶŬĞŐŝĂƚĂŶĚĂůĂŵďŝĚĂŶŐƐĞǁĂŐƵŶĂ
ƵƐĂŚĂ͕ ƉĞŵďŝĂLJĂĂŶ ŬŽŶƐƵŵĞŶ ĚĂŶ ĂŶũĂŬ ƉŝƵƚĂŶŐ͘WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞŵƉĞƌŽůĞŚ /njŝŶ hƐĂŚĂ WĞƌƵƐĂŚĂĂŶ
WĞŵďŝĂLJĂĂŶ ďĞƌĚĂƐĂƌŬĂŶ <ĞƉƵƚƵƐĂŶ DĞŶƚĞƌŝ <ĞƵĂŶŐĂŶ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ EŽŵŽƌ ϲϭͬ<D<͘Ϭϭϳͬϭϵϵϰ
ƚĂŶŐŐĂů ϭϳ &ĞďƌƵĂƌŝ ϭϵϵϰ͕ LJĂŶŐ ĚŝƵďĂŚ ĚĞŶŐĂŶ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶ DĞŶƚĞƌŝ <ĞƵĂŶŐĂŶ EŽ͘
ϮϮϯͬ<D<͘ϬϭϳͬϭϵϵϳƚĂŶŐŐĂůϵDĞŝϭϵϵϳĚĂŶƚĞƌĂŬŚŝƌĚŝƵďĂŚĚĞŶŐĂŶ^ƵƌĂƚ<ĞƉƵƚƵƐĂŶDĞŶƚĞƌŝ<ĞƵĂŶŐĂŶ
EŽ͘< WͲϭϲϵͬ<D͘ϲͬϮϬϬϯƚĂŶŐŐĂůϭϮDĞŝϮϬϬϯ͘
Ϯ͘ /njŝŶWĞŵďƵŬĂĂŶhŶŝƚhƐĂŚĂ^LJĂƌŝĂŚ
WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞŵƉĞƌŽůĞŚ /njŝŶ WĞŵďƵŬĂĂŶ hŶŝƚ hƐĂŚĂ ^LJĂƌŝĂŚ ďĞƌĚĂƐĂƌŬĂŶ <ĞƉƵƚƵƐĂŶ ĞǁĂŶ
<ŽŵŝƐŝŽŶĞƌ KƚŽƌŝƚĂƐ :ĂƐĂ <ĞƵĂŶŐĂŶ EŽ͘ < WͲϰϵϵͬE͘ϮϮϯͬϮϬϭϱ ƚĂŶŐŐĂů ϭϲ ĞƐĞŵďĞƌ ϮϬϭϱ dĞŶƚĂŶŐ
WĞŵďĞƌŝĂŶ /njŝŶ WĞŵďƵŬĂĂŶ hŶŝƚ hƐĂŚĂ ^LJĂƌŝĂŚ WĞƌƵƐĂŚĂĂŶ WĞŵďŝĂLJĂĂŶ <ĞƉĂĚĂ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ
/ŶĚŽŶĞƐŝĂ͘
ϯ͘ EŽŵŽƌ/ŶĚƵŬĞƌƵƐĂŚĂ;E/Ϳ
E/EŽ͘ϴϭϮϬϬϬϯϵϬϭϲϳϱLJĂŶŐĚŝƚĞƚĂƉŬĂŶƉĂĚĂƚĂŶŐŐĂůϭϳ^ĞƉƚĞŵďĞƌϮϬϭϴĚĂŶĚŝŬĞůƵĂƌŬĂŶŽůĞŚ>ĞŵďĂŐĂ
WĞŶŐĞůŽůĂĚĂŶWĞŶLJĞůĞŶŐŐĂƌĂK^^ďĞƌĚĂƐĂƌŬĂŶWĂƐĂůϮϰĂLJĂƚ;ϭͿWĞƌĂƚƵƌĂŶWĞŵĞƌŝŶƚĂŚEŽ͘ϮϰƚĂŚƵŶϮϬϭϴ
ƚĞŶƚĂŶŐWĞůĂLJĂŶĂŶWĞƌŝnjŝŶĂŶĞƌƵƐĂŚĂdĞƌŝŶƚĞŐƌĂƐŝ^ĞĐĂƌĂ ůĞŬƚƌŽŶŝŬŬĞƉĂĚĂWĞƌƐĞƌŽĂŶLJĂŶŐďĞƌĂůĂŵĂƚĚŝ
/ŶĚŽŵŽďŝů dŽǁĞƌ >ƚ͘ ϴ͕ :ů͘ Dd͘ ,ĂƌLJŽŶŽ <Ăǀ͘ ϭϭ͕ <ĞůƵƌĂŚĂŶ ŝĚĂƌĂ ŝŶĂ͕ <ĞĐĂŵĂƚĂŶ :ĂƚŝŶĞŐĂƌĂ͕ <ŽƚĂ
ĚŵŝŶŝƐƚƌĂƐŝ :ĂŬĂƌƚĂ dŝŵƵƌ͕ </ :ĂŬĂƌƚĂ͕ ĚĞŶŐĂŶ <>/ ;ϲϰϵϭϭͿ WĞƌƵƐĂŚĂĂŶ WĞŵďŝĂLJĂĂŶ <ŽŶǀĞŶƐŝŽŶĂů͘
ĞƌůĂŬƵƐĞũĂŬƚĂŶŐŐĂůĚŝŬĞůƵĂƌŬĂŶĚĂŶWĞƌƵďĂŚĂŶŬĞͲϭƚĂŶŐŐĂůϭϯDĞŝϮϬϮϮ͘
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ϰ͘ ^hZE^/
WĂĚĂƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶ͕WĞƌƐĞƌŽĂŶŵĞŵŝůŝŬŝĂƐƵƌĂŶƐŝĚĞŶŐĂŶƌŝŶĐŝĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ŽŬƵŵĞŶ KďũĞŬ dŽƚĂů
EK͘ EŽͬdĂŶŐŐĂůWŽůŝƐ WĞƌŝŽĚĞ
ƐƵƌĂŶƐŝ WĞŶĂŶŐŐƵŶŐ WĞƌƚĂŶŐŐƵŶŐĂŶ WĞƌƚĂŶŐŐƵŶŐĂŶ
ϭ͘ WƌŽƉĞƌƚLJ ϭϵϭϬϭϬϲϮϰϬϭϬϬϬϬϬϮϮ Wd͘ ƐƵƌĂŶƐŝ ƵŝůĚŝŶŐ ĂŶĚ
>> ZŝƐŬƐ ϭϭĞƐĞŵďĞƌϮϬϮϰ ĞŶƚƌĂůƐŝĂ KĨĨŝĐĞ
/ŶĐůƵĚŝŶŐ ƋƵŝƉŵĞŶƚ ϭϭͲϭϮͲ
ĂƌƚŚƋƵĂŬĞ ϳϭ͘Ϯϲϲ͘ϳϭϰ͘Ϭϰϴ ϮϬϮϰ
WŽůŝĐLJ ƐͬĚ
ϭϭͲϭϮͲ
ϮϬϮϱ
Ϯ͘ DŽǀĞĂďůĞ ϭϵϭϭϱϭϮϮϰϭϭϬϬϬϬϬϭϳϮϮ Wd͘ ƐƵƌĂŶƐŝ ůĞĐƚƌŽŶŝĐ
WƌŽƉĞƌƚLJ EŽǀĞŵďĞƌϮϬϮϰ ĞŶƚƌĂůƐŝĂ ƋƵŝƉŵĞŶƚ ϮϱͲϬϵͲ
ůůZŝƐŬ /ŶƐƵƌĂŶĐĞ Ͳ ϮϬϮϰ
Ϯ͘ϱϭϰ͘ϭϮϭ͘ϵϱϮ
DŽǀĞĂďůĞ ƐͬĚ
ƋƵŝƉŵĞŶƚ ϮϱͲϬϵͲ
ϮϬϮϱ
ϯ͘ <ĞŶĚĂƌĂĂŶ ϭϵϭϬϮϬϭϮϰϬϴϬϬϬϭϱϯϴϯϬ Wd͘ ƐƵƌĂŶƐŝ ůů ZŝƐŬƐ͕ ƵŶƚƵŬ
ĞƌŵŽƚŽƌ ŐƵƐƚƵƐϮϬϮϰ ĞŶƚƌĂůƐŝĂ ϯϳϴ ŬĞŶĚĂƌĂĂŶ ϯϭͲϬϴͲ
ZŽĚĂ ďĞƌŵŽƚŽƌ ƌŽĚĂ ϮϬϮϰ
ϲϲ͘ϰϴϯ͘Ϯϯϴ͘ϲϬϬ
ŵƉĂƚ ĞŵƉĂƚ ƐͬĚ
ϯϭͲϬϴͲ
ϮϬϮϱ
ϰ͘ DŽŶĞLJ /Ŷ Wd͘ ƐƵƌĂŶƐŝ 'ĂŶƚŝ ŬĞƌƵŐŝĂŶ ϯϬ͘ϴϴϴ͘ϬϬϬ͘ϬϬϬ
dƌĂŶƐŝƚ ϭϮ͘ϰϬϬ͘ϬϬϬϰ͘ϵϵϴϳϰ ^ŝŶĂƌDĂƐ ƚĞƌŚĂĚĂƉ ϯϭͲϭϮͲ
Ϯϯ ĞƐĞŵďĞƌ ϮϬϮϰ ŬĞƌƵŐŝĂŶ ĂƚĂƐ ϮϬϮϰ
ƵĂŶŐ ƚĞƌĚŝƌŝ ĚĂƌŝ ƐͬĚ
ŬĂƐ͕ ĂŶŬ EŽƚĞƐ͕ ϯϭͲϭϮͲ
ƵƌƌĞŶĐLJ EŽƚĞƐ͕ ϮϬϮϱ
ĞŬ͕WŽƐƚĂůKƌĚĞƌ͕
ĂůĂƚ ƉĞŶƵŬĂƌĂŶ
;ŵŽŶĞLJ ŽƌĚĞƌͿ
LJĂŶŐ ƐĞĚĂŶŐ
ĚŝĂŶƚĂƌŬĂŶ
ŬĞƉĂĚĂ
ƉĞŶLJŝŵƉĂŶĂŶ Ěŝ
ƐĞůƵƌƵŚ ǁŝůĂLJĂŚ
ĂďĂŶŐ
ϱ͘͘ DŽŶĞLJ /Ŷ ϭϮ͘ϰϬϬ͘ϬϬϬϰ͘ϵϭϵϴϰ Wd͘ ƐƵƌĂŶƐŝ 'ĂŶƚŝ ŬĞƌƵŐŝĂŶ Ϯ͘ϮϰϬ͘ϬϬϬ͘ϬϬϬ
^ĂĨĞ Ϯϯ ĞƐĞŵďĞƌ ϮϬϮϰ ^ŝŶĂƌDĂƐ ƚĞƌŚĂĚĂƉ ϯϭͲϭϮͲ
ŬĞƌƵŐŝĂŶ ĂƚĂƐ ϮϬϮϰ
ŬĞƉĞŶƚŝŶŐĂŶ ƐͬĚ
LJĂŶŐ ĚŝůŝŶĚƵŶŐŝ ϯϭͲϭϮͲ
ĚĂƌŝ ŬĞĐĞůĂŬĂĂŶ ϮϬϮϱ
ĚĂŶͬĂƚĂƵ
ƉĞŶĐƵƌŝĂŶ͕ ƉĂĚĂ
ƐĂĂƚŬĞƉĞŶƚŝŶŐĂŶ
LJĂŶŐ ĚŝůŝŶĚƵŶŐŝ
ƚĞƌƐĞďƵƚ ĚĂůĂŵ
ƌƵĂŶŐ
ƉĞŶLJŝŵƉĂŶĂŶ͕
ĂƚĂƵ ůĂĐŝ
ƚĞƌŬƵŶĐŝ͕
ŬĂďŝŶĞƚ͕ ĐĂƐŚ
ƌĞŐŝƐƚĞƌ͕ ƉĞƚƚLJ
ĐĂƐŚ͕ ĐĂƐŚ ďŽdž
ĚŝƚĞŵƉĂƚ ĚĂŶ
ƚĞƌŵĂƐƵŬ
ŬĞƌƵƐĂŬĂŶ ĚĂƌŝ
ƌƵĂŶŐ
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ŽŬƵŵĞŶ KďũĞŬ dŽƚĂů
EK͘ EŽͬdĂŶŐŐĂůWŽůŝƐ WĞƌŝŽĚĞ
ƐƵƌĂŶƐŝ WĞŶĂŶŐŐƵŶŐ WĞƌƚĂŶŐŐƵŶŐĂŶ WĞƌƚĂŶŐŐƵŶŐĂŶ
ƉĞŶLJŝŵƉĂŶĂŶ
ƐĞůƵƌƵŚ ǁŝůĂLJĂŚ
ĂďĂŶŐ
DĂŶĂũĞŵĞŶWĞƌƐĞƌŽĂŶďĞƌŬĞLJĂŬŝŶĂŶďĂŚǁĂŶŝůĂŝƉĞƌƚĂŶŐŐƵŶŐĂŶĂƐƵƌĂŶƐŝĐƵŬƵƉƵŶƚƵŬŵĞŶƵƚƵƉŬĞŵƵŶŐŬŝŶĂŶ
ŬĞƌƵŐŝĂŶĚĂƌŝƌŝƐŝŬŽLJĂŶŐĚŝƉĞƌƚĂŶŐŐƵŶŐŬĂŶ͘
ϱ͘ W Z:E:/E<Z /d
ĂůĂŵ ŵĞŶũĂůĂŶŬĂŶ ŬĞŐŝĂƚĂŶͲŬĞŐŝĂƚĂŶ ƵƐĂŚĂŶLJĂ͕ WĞƌƐĞƌŽĂŶ ŵĞŶŐĂĚĂŬĂŶ ƉĞƌũĂŶũŝĂŶͲƉĞƌũĂŶũŝĂŶ ĚĞŶŐĂŶ ƉŝŚĂŬ
ŬĞƚŝŐĂ͘ WĞƌũĂŶũŝĂŶͲƉĞƌũĂŶũŝĂŶ LJĂŶŐ ŵĂƐŝŚ ďĞƌůĂŬƵ ĚĞŶŐĂŶ ƉŝŚĂŬͲƉŝŚĂŬ ƚĞƌƐĞďƵƚ ƐĂŵƉĂŝ ĚĞŶŐĂŶ WƌŽƐƉĞŬƚƵƐ ŝŶŝ
ĚŝƚĞƌďŝƚŬĂŶĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭ͘ &ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ
EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
ϭ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ^ƵƌĂƚĂŶŬĂŶĂŵŽŶEŽ͘͘Ϭϱϵͬ,<Ͳ ͬϬϯϮϰƚĂŶŐŐĂůϭƉƌŝůϮϬϮϰ͕WĞƌŝŚĂů͗^ƵƌĂƚ
WĞŶĂǁĂƌĂŶLJĂŶŐĚŝŬĞůƵĂƌŬĂŶĚĂŶĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚ ŶƚĞƌƉƌŝƐĞĂŶŬŝŶŐdĞĂŵ
,ĞĂĚ ĚĂŶ >ĞŐĂů KƉĞƌĂƚŝŽŶ ĂŶŬ ĂŶĂŵŽŶ ƐĞƌƚĂ ƚĞůĂŚ ĚŝƐĞƚƵũƵŝ ŽůĞŚ WĞƌƐĞƌŽĂŶ
ĚĞŶŐĂŶƚƵƌƵƚĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚWƌĞƐŝĚĞŶŝƌĞŬƚƵƌWĞƌƐĞƌŽĂŶũƵŶĐƚŽ^ƵƌĂƚĂŶŬ
ĂŶĂŵŽŶ EŽ͘ ͘ϬϲϳͬZKͬ ͬϬϭϮϱ ƚĂŶŐŐĂů ϭϳ :ĂŶƵĂƌŝ ϮϬϮϱ͕ WĞƌŝŚĂů͗
WĞŵďĞƌŝƚĂŚƵĂŶ WĞƌƐĞƚƵũƵĂŶ WĞƌƉĂŶũĂŶŐĂŶ :ĂŶŐŬĂ tĂŬƚƵ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ LJĂŶŐ
ĚŝŬĞůƵĂƌŬĂŶĚĂŶĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚ dĞĂŵ,ĞĂĚĚĂŶZĞůĂƚŝŽŶƐŚŝƉDĂŶĂŐĞƌ
ĚĂŶ>ĞŐĂůKƉĞƌĂƚŝŽŶBank Danamon (selanjutnya disebut “W<ĂŶŬĂŶĂŵŽŶ”).
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬĂŶĂŵŽŶ/ŶĚŽŶĞƐŝĂdďŬ;“Bank Danamon”Ϳ͖
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak.”
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ ĂŶĂŵŽŶ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐͲĨĂƐŝŝƚĂƐ ŬƌĞĚŝƚ ŬĞƉĂĚĂ WĞƌƐĞƌŽĂŶ ƐĞďĂŐĂŝ
ďĞƌŝŬƵƚ͗
ϭ͘ &ĂƐŝůŝƚĂƐϭ ͗ <ƌĞĚŝƚĞƌũĂŶŐŬĂͲZĞǀŽůǀŝŶŐ
>ŝŵŝƚ&ĂƐŝůŝƚĂƐ ͗ ZƉϰϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ĞŵƉĂƚƌĂƚƵƐŵŝůŝĂƌZƵƉŝĂŚͿ
dƵũƵĂŶ ͗ DŽĚĂů<ĞƌũĂĞďŝƚƵƌ
DĂƚĂhĂŶŐ ͗ ZƵƉŝĂŚΘŽůůĂƌh^
:ĂŶŐŬĂtĂŬƚƵ ͗ Ϯϲ:ƵŶŝϮϬϮϱ
^ƵŬƵƵŶŐĂ ͗ ϲ͕ϬϬйͲϲ͕ϲϱйƉĞƌƚĂŚƵŶ
Ϯ͘ &ĂƐŝůŝƚĂƐϮ ͗ hŵďƌĞůůĂ&ŽƌĞdž>ŝŶĞ;hŵďƌĞůůĂW^ ͿͲhŶĐŽŵŝƚƚĞĚ͕
ZĞǀŽůǀŝŶŐ
>ŝŵŝƚ&ĂƐŝůŝƚĂƐ ͗ ZƉϮϬϴ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ĚƵĂ ƌĂƚƵƐ ĚĞůĂƉĂŶ ŵŝůŝĂƌ
ZƵƉŝĂŚͿ
dƵũƵĂŶ ͗ DŽĚĂů<ĞƌũĂĞďŝƚƵƌ
DĂƚĂhĂŶŐ ͗ ZƵƉŝĂŚΘŽůůĂƌh^
:ĂŶŐŬĂtĂŬƚƵ ͗ Ϯϲ:ƵŶŝϮϬϮϱ
^ƵŬƵƵŶŐĂ ͗ ĞƌĚĂƐĂƌŬĂŶƐƵŬƵďƵŶŐĂƉĂƐĂƌ;ŵĂƌŬĞƚƌĂƚĞͿ
ϯ͘ &ĂƐŝůŝƚĂƐϯ ͗ <ƌĞĚŝƚZĞŬĞŶŝŶŐ<ŽƌĂŶͲhŶĐŽŵŵŝƚƚĞĚ͕ZĞǀŽůǀŝŶŐ
>ŝŵŝƚ&ĂƐŝůŝƚĂƐ ͗ ZƉϭϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƐĞƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ
dƵũƵĂŶ ͗ DŽĚĂů<ĞƌũĂĞďŝƚƵƌ
DĂƚĂhĂŶŐ ͗ ZƵƉŝĂŚ
:ĂŶŐŬĂtĂŬƚƵ ͗ Ϯϲ:ƵŶŝϮϬϮϱ
/ŶĚŝŬĂƐŝ ^ƵŬƵ ͗ ϴ͕ϱϬйƉĞƌƚĂŚƵŶ
ƵŶŐĂ
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
ϰ͘ &ĂƐŝůŝƚĂƐϰ ͗ <ƌĞĚŝƚŶŐƐƵƌĂŶĞƌũĂŶŐŬĂϭ;<ϭͿͬDĞĚŝƵŵdĞƌŵ
EŽƚĞƐ ;DdEͿ ͬ KďůŝŐĂƐŝ ;ŽŶĚƐͿ Ͳ hŶĐŽŵŵŝƚƚĞĚ͕
ZĞǀŽůǀŝŶŐ
>ŝŵŝƚ&ĂƐŝůŝƚĂƐ ͗ ZƉϮϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ĚƵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ
dƵũƵĂŶ ͗ DŽĚĂů<ĞƌũĂĞďŝƚƵƌ
DĂƚĂhĂŶŐ ͗ ZƵƉŝĂŚΘŽůůĂƌh^
:ĂŶŐŬĂtĂŬƚƵ ͗ Ϯϲ:ƵŶŝϮϬϮϱ
WĂĚĂƚĂŶŐŐĂůĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝ͕WĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝŽƵƚƐƚĂŶĚŝŶŐ
ĂƚĂƐ ƚŝĂƉͲƚŝĂƉ ĨĂƐŝůŝƚĂƐ ƚĞƌƐĞďƵƚ Ěŝ ĂƚĂƐ ƐĞŚŝŶŐŐĂ ƚŝĚĂŬ ƚĞƌƐĞĚŝĂ ƚĂŶŐŐĂů ũĂƚƵŚ
ƚĞŵƉŽ͘ ^ĞůĂŶũƵƚŶLJĂ͕ WĞƌƐĞƌŽĂŶ ĚĂŶ ĂŶŬ ĂŶĂŵŽŶ ƚĞůĂŚ ƐĞƉĂŬĂƚ ƵŶƚƵŬ
ŵĞŵƉĞƌƉĂŶũĂŶŐ ũĂŶŐŬĂ ǁĂŬƚƵ ĂƚĂƐ ŵĂƐŝŶŐͲŵĂƐŝŶŐ ĨĂƐŝůŝƚĂƐ ƚĞƌƐĞďƵƚ ĚĂŶ ƵŶƚƵŬ
ĚĚĞŶĚƵŵWĞƌƉĂŶũĂŶŐĂŶŶLJĂĂƚĂƐW<ĂŶŬĂŶĂŵŽŶŚŝŶŐŐĂƐĂĂƚŝŶŝŵĂƐŝŚĚĂůĂŵ
ƉƌŽƐĞƐƉĞŵďƵĂƚĂŶŽůĞŚĂŶŬĂŶĂŵŽŶ͕ƐĞůĂŬƵ<ƌĞĚŝƚƵƌ͘
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<ĂŶĂŵŽŶ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬĂŶĂŵŽŶƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ
/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
Ϯ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚEŽ͘ϱϲƚĂŶŐŐĂůϮϮƉƌŝůϮϬϬϴ͕ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ^ũĂƌŵĞŝŶŝ
^͘ŚĂŶĚƌĂ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͕ƐĞůĂŶũƵƚŶLJĂ͕ŵĞŶŐĂůĂŵŝƉĞƌƵďĂŚĂŶƚĞƌĂŬŚŝƌ
ďĞƌĚĂƐĂƌŬĂŶ WĞƌƵďĂŚĂŶ <Ğ ĞŵƉĂƚ ďĞůĂƐ ĂƚĂƐ WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ EŽ͘ ϭϰϮͬĚĚͲ
<<ͬϮϬϮϰƚĂŶŐŐĂůϮDĞŝϮϬϮϰ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶũƵŶĐƚŽ^ƵƌĂƚĂŶŬEŽ͘
ϰϬϮϵϭͬ'<ͬϮϬϮϱ ƚĂŶŐŐĂů Ϯϭ DĞŝ ϮϬϮϱ͕ WĞƌŝŚĂů͗ WĞŵďĞƌŝƚĂŚƵĂŶ WĞƌƉĂŶũĂŶŐĂŶ
ĂƚĂƐ tĂŬƚƵ WĞŶĂƌŝŬĂŶ ĚĂŶͬĂƚĂƵ WĞŶŐŐƵŶĂĂŶ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ͕ ĚŝŬĞůƵĂƌŬĂŶ ĚĂŶ
ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ^ĞŶŝŽƌsŝĐĞWƌĞƐŝĚĞŶƚĚĂŶsŝĐĞWƌĞƐŝĚĞŶƚ'ƌŽƵƉŽƌƉŽƌĂƚĞĂŶŬŝŶŐ
Bank BCA (selanjutnya disebut “PK BCA”).
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬĞŶƚƌĂůƐŝĂdďŬ;“Bank BCA”Ϳ͖
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ >ŽŬĂů ;ZĞŬĞŶŝŶŐ <ŽƌĂŶͿ͕ ĚĞŶŐĂŶ ũƵŵůĂŚ ƚŝĚĂŬ ŵĞůĞďŝŚŝ ƐĞďĞƐĂƌ
ZƉϯϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƚŝŐĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ͘
/ŶĚŝŬĂƐŝ^ƵŬƵƵŶŐĂ ϵ͕ϮϱйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ ƵŶƚƵŬŵŽĚĂůŬĞƌũĂWĞƌƐĞƌŽĂŶ
:ĂŶŐŬĂtĂŬƚƵ ďĂƚĂƐ ǁĂŬƚƵ ƉĞŶĂƌŝŬĂŶ ĚĂŶͬĂƚĂƵ ƉĞŶŐŐƵŶĂĂŶ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ƐĂŵƉĂŝ ĚĞŶŐĂŶ
ƚĂŶŐŐĂůϮϮDĞŝϮϬϮϱ
WĂĚĂƚĂŶŐŐĂůĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝ͕WĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝŽƵƚƐƚĂŶĚŝŶŐ
ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŝŶŝ ƐĞŚŝŶŐŐĂ ƚŝĚĂŬ ƚĞƌƐĞĚŝĂ ƚĂŶŐŐĂů ũĂƚƵŚ ƚĞŵƉŽ͘ ^ĞůĂŶũƵƚŶLJĂ͕
WĞƌƐĞƌŽĂŶ ĚĂŶ ĂŶŬ ƚĞůĂŚ ƐĞƉĂŬĂƚ ƵŶƚƵŬ ŵĞŵƉĞƌƉĂŶũĂŶŐ ũĂŶŐŬĂ ǁĂŬƚƵ
ƉĞŶĂƌŝŬĂŶ ĚĂŶͬĂƚĂƵ ƉĞŶŐŐƵŶĂĂŶ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ĚĂŶ ƵŶƚƵŬ ĚĚĞŶĚƵŵ
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
WĞƌƉĂŶũĂŶŐĂŶŶLJĂ ĂƚĂƐ W< ƚĞƌƐĞďƵƚ ŚŝŶŐŐĂ ƐĂĂƚ ŝŶŝ ŵĂƐŝŚ ĚĂůĂŵ ƉƌŽƐĞƐ
ƉĞŵďƵĂƚĂŶŽůĞŚĂŶŬ͕ƐĞůĂŬƵ<ƌĞĚŝƚƵƌ͘
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< ͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
ϯ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚ;DŽŶĞLJDĂƌŬĞƚ>ŽĂŶͿEŽ͘ϭϵƚĂŶŐŐĂůϰ:ƵůŝϮϬϮϮ͕ĚŝďƵĂƚ
ĚŝŚĂĚĂƉĂŶ^ƌŝƵĞŶĂƌĂŚŵĂŶĂ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͕ƐĞůĂŶũƵƚŶLJĂ͕ŵĞŶŐĂůĂŵŝ
ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ ĚĚĞŶĚƵŵ <ĞĚƵĂ WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ ;DŽŶĞLJ
DĂƌŬĞƚ >ŽĂŶͿ EŽ͘ ϬϬϯͬͬͬϮϬϮϰ ƚĂŶŐŐĂů ϭϱ :Ƶůŝ ϮϬϮϰ͕ ĚŝďƵĂƚ Ěŝ ďĂǁĂŚ
tangan (selanjutnya disebut “PK BCAD”).
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬŝŐŝƚĂů;“BCA Digital”Ϳ͖
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak.”
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ DŽŶĞLJ DĂƌŬĞƚ ;ƵŶĐŽŵŵŝƚƚĞĚͿ ƐĞďĞƐĂƌ ZƉϭϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ
;ƐĞƌĂƚƵƐŵŝůŝĂƌZƵƉŝĂŚͿ͘
^ƵŬƵƵŶŐĂ ϲ͕ϭϬͲϳ͕ϭϯйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ ƌŝĚŐŝŶŐ&ĂĐŝůŝƚLJ
:ĂƚƵŚdĞŵƉŽ ϰ:ƵůŝϮϬϮϱ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< ͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂŝŐŝƚĂůƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŝŶŝ ĂĚĂůĂŚ
;KƵƚƐƚĂŶĚŝŶŐͿ ƐĞďĞƐĂƌZƉϭϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
ϰ͘ EĂŵĂWĞƌũĂŶũŝĂŶ WĞƌũĂŶũŝĂŶ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ EŽ͘ ϳϬϯͬDͬD,ͬϭϬϭϯ ƚĂŶŐŐĂů Ϯϴ KŬƚŽďĞƌ ϮϬϭϯ͕
ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶũƵŶĐƚŽ^ŬĞĚƵůEŽϳϬϰͬ>ͬD,ͬϭϬϭϯͲWŝŶũĂŵĂŶĞƌƵůĂŶŐ
;ZĞǀŽůǀŝŶŐ >ŽĂŶͿ ƚĂŶŐŐĂů Ϯϴ KŬƚŽďĞƌ ϮϬϭϯ͕ ƐĞůĂŶũƵƚŶLJĂ ŵĞŶŐĂůĂŵŝ ďĞďĞƌĂƉĂ
ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ WĞƌƵďĂŚĂŶ EŽ͘ ϭϭϬϱͬDͬD,ͬϭϬϮϰ ƚĂŶŐŐĂů
Ϯϴ KŬƚŽďĞƌ ϮϬϮϰ ũƵŶĐƚŽ WĞƌƵďĂŚĂŶ EŽ͘ ϭϭϬϲͬDͬD,ͬϭϬϮϰ ƚĂŶŐŐĂů
ϮϴKŬƚŽďĞƌϮϬϮϰ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶ;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ“PK Mizuho”Ϳ͘
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬDŝnjƵŚŽ/ŶĚŽŶĞƐŝĂ;“Bank Mizuho”Ϳ͖
WĞƌƐĞƌŽĂŶĚĂŶDŝnjƵŚŽƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak.”
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĞƌĚĂƐĂƌŬĂŶ W< DŝnjƵŚŽ͕ ĂŶŬ DŝnjƵŚŽ ĚĞŶŐĂŶ ŝŶŝ ŵĞŵďĞƌŝŬĂŶ ŬĞƉĂĚĂ ĞďŝƚƵƌ
ƐƵĂƚƵ ĨĂƐŝůŝƚĂƐ ƉŝŶũĂŵĂŶ ďĞƌƵůĂŶŐ ƚĂŶƉĂ ŬŽŵŝƚŵĞŶ ;ŽŶ ƚŚĞ ƵŶĐŽŵŵŝƚƚĞĚ ďĂƐŝƐͿ
ŵĂŬƐŝŵƵŵ ƉŽŬŽŬ ƉŝŶũĂŵĂŶ ƐĞďĞƐĂƌ ZƉϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ ;ĚƵĂ ƌĂƚƵƐ ŵŝůŝĂƌ
ZƵƉŝĂŚͿĂƚĂƵũƵŵůĂŚLJĂŶŐƐĞƚĂƌĂĚĂůĂŵh^ƉĂĚĂŶŝůĂŝƚƵŬĂƌLJĂŶŐďĞƌůĂŬƵƉĂĚĂ
ĂŶŬ͘
^ƵŬƵƵŶŐĂ ϱ͕ϵϱйͲϲ͕ϱϬйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ &ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ ĞƌƵůĂŶŐ ƚĞƌƐĞďƵƚ ĂŬĂŶ ĚŝŐƵŶĂŬĂŶ ĞďŝƚƵƌ ƵŶƚƵŬ ŵĞŶĚĂŶĂŝ
ŵŽĚĂůŬĞƌũĂ
:ĂƚƵŚdĞŵƉŽ ϮϴKŬƚŽďĞƌϮϬϮϱ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< DŝnjƵŚŽ͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂDŝnjƵŚŽƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŝŶŝ ĂĚĂůĂŚ
;KƵƚƐƚĂŶĚŝŶŐͿ ƐĞďĞƐĂƌZƉϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
ϱ͘ EĂŵĂWĞƌũĂŶũŝĂŶ WĞƌũĂŶũŝĂŶ<ƌĞĚŝƚ EŽ͘ ϲƚĂŶŐŐĂůϮϴEŽǀĞŵďĞƌ ϮϬϭϰ͕LJĂŶŐƚĞůĂŚĚŝůĞŐĂůŝƐĂƐŝŽůĞŚ
^ƵǁĂƌŶŝ ^ƵŬŝŵĂŶ͕ ^͘,͕͘ EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ͕ ĚĞŶŐĂŶ EŽ͘ >ĞŐĂůŝƐĂƐŝ͗
ϭϱϭͬ^^ͬƵƉůŽͬ>ĞŐͬϮϬϭϰ LJĂŶŐ ƐĞůĂŶũƵƚŶLJĂ ŵĞŶŐĂůĂŵŝ ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ
ďĞƌĚĂƐĂƌŬĂŶWĞŶŐƵďĂŚĂŶydĞƌŚĂĚĂƉWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚEŽ͘ϲƚĂŶŐŐĂůϮϬĞƐĞŵďĞƌ
ϮϬϮϰ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶ;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ“PK Bank Victoria”Ϳ͘
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬsŝĐƚŽƌŝĂ;“Bank Victoria”Ϳ͘
WĞƌƐĞƌŽĂŶĚĂŶĂŶŬsŝĐƚŽƌŝĂƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĞƌĚĂƐĂƌŬĂŶW<ĂŶŬsŝĐƚŽƌŝĂ͕&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚLJĂŶŐĚŝďĞƌŝŬĂŶĂŶŬsŝĐƚŽƌŝĂŬĞƉĂĚĂ
ĞďŝƚƵƌ͕ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Ͳ :ĞŶŝƐ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ͗ ĞŵĂŶĚ>ŽĂŶ;hŶĐŽŵŵŝƚƚĞĚͿĚĞŶŐĂŶŵĞŬĂŶŝƐŵĞ
ƚƌĂŶƐĂŬƐŝƐĞƉĞƌƚŝDŽŶĞLJDĂƌŬĞƚ>ŝŶĞ
Ͳ :ƵŵůĂŚ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ͗ ƐĞƚŝŶŐŐŝͲƚŝŶŐŐŝŶLJĂ ƐĞďĞƐĂƌ ZƉϮϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ
;ĚƵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ
^ƵŬƵƵŶŐĂ ϲ͕ϰϬйͲϲ͕ϱϬйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ hŶƚƵŬƉĞŵďŝĂLJĂĂŶŵŽĚĂůŬĞƌũĂĞďŝƚƵƌ
:ĂƚƵŚdĞŵƉŽ ϮϴEŽǀĞŵďĞƌϮϬϮϱ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< ĂŶŬ sŝĐƚŽƌŝĂ͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ
;ŶĞŐĂƚŝǀĞĐŽǀĞŶĂŶƚƐͿLJĂŶŐĚĂƉĂƚ͗;ĂͿŵĞŶŐŚĂůĂŶŐŝƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶWh
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶ
ŬĞƉĞŶƚŝŶŐĂŶƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶ
ŬĂƌĞŶĂŶLJĂ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ďĞƌŬĞǁĂũŝďĂŶ ƵŶƚƵŬ ŵĞŵŝŶƚĂ ƉĞƌƐĞƚƵũƵĂŶ ƚĞƌƚƵůŝƐ
58
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
ƚĞƌůĞďŝŚ ĚĂŚƵůƵ ŬĞƉĂĚĂ ĂŶŬ sŝĐƚŽƌŝĂ ƵŶƚƵŬ ŵĞůĂŬƐĂŶĂŬĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŝŶŝ ĂĚĂůĂŚ
;KƵƚƐƚĂŶĚŝŶŐͿ ƐĞďĞƐĂƌZƉϮϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
ϲ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚEŽ͘ϱƚĂŶŐŐĂůϮϮĞƐĞŵďĞƌϮϬϭϰLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ
ǀĞůŝŶĞ'ĂŶĚĂƵůŝZĂũĂŐƵŬŐƵŬ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͕LJĂŶŐƐĞůĂŶũƵƚŶLJĂŵĞŶŐĂůĂŵŝ
ƉĞƌƵďĂŚĂŶ ĚŝŵĂŶĂ ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ WĞƌƵďĂŚĂŶ <ĞͲϭϰ ; ŵƉĂƚ
ĞůĂƐͿƚĂŶŐŐĂůϭϴĞƐĞŵďĞƌϮϬϮϰ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶ;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ
“PK Bank CIMB Niaga”Ϳ͘
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Nasabah”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬ/DEŝĂŐĂdďŬ;“Bank CIMB Niaga”Ϳ͘
WĞƌƐĞƌŽĂŶĚĂŶĂŶŬ/DEŝĂŐĂƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak.”
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĞƌĚĂƐĂƌŬĂŶW<ĂŶŬ/DEŝĂŐĂ͕ĂŶŬ/DEŝĂŐĂŵĞŵďĞƌŝŬĂŶĨĂƐŝůŝƚĂƐŬƌĞĚŝƚ
ŬĞƉĂĚĂEĂƐĂďĂŚ͕ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭ͘ &ĂƐŝůŝƚĂƐWŝŶũĂŵĂŶdĞƚĂƉ͗
Ͳ :ĞŶŝƐ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ͗ &ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ dĞƚĂƉ Ͳ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ
>ĂŶŐƐƵŶŐ Ͳ KŶ ZĞǀŽůǀŝŶŐ ĂƐŝƐ Ͳ
hŶĐŽŵŵŝƚƚĞĚ&ĂĐŝůŝƚLJ;“Fasilitas PT”Ϳ
Ͳ :ƵŵůĂŚ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ͗ ŵĂŬƐŝŵƵŵ ƐĞƚŝŶŐŐŝͲƚŝŶŐŐŝŶLJĂ
ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƚŝŐĂ ƌĂƚƵƐ ŵŝůŝĂƌ
ZƵƉŝĂŚͿ͕ĚĞŶŐĂŶƐƵŬƵďƵŶŐĂƐĞďĞƐĂƌϱ͕ϵϱйͲ
ϳ͕ϬϬйƉĞƌƚĂŚƵŶ͘
&ĂƐŝůŝƚĂƐ Wd ŝŶŝ ĚĂƉĂƚ ĚŝŐƵŶĂŬĂŶ ďĞƌƐĂŵĂͲƐĂŵĂ ƐĞĐĂƌĂ ƐƵďůŝŵŝƚ ĚĞŶŐĂŶ
&ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ dƌĂŶƐĂŬƐŝ <ŚƵƐƵƐ ŬƐƚƌĂ ƐĞďĞƐĂƌ ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ
;ƚŝŐĂƌĂƚƵƐůŝŵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿĚĂŶďĞƌƐŝĨĂƚŝŶƚĞƌĐŚĂŶŐĞĂďůĞĚĞŶŐĂŶ
&ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ dĞƚĂƉ DƵƐLJĂƌĂŬĂŚ ƐƵďůŝŵŝƚ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ
dƌĂŶƐĂŬƐŝ <ŚƵƐƵƐ ŬƐƚƌĂ DƵƐLJĂƌĂŬĂŚ ƐĞďĞƐĂƌ ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƚŝŐĂ
ƌĂƚƵƐ ůŝŵĂ ƉƵůƵŚ ŵŝůŝĂƌ ZƵƉŝĂŚͿ͕ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ ũƵŵůĂŚ ƉĞŶŐŐƵŶĂĂŶ
&ĂƐŝůŝƚĂƐWd͕&ĂƐŝůŝƚĂƐWŝŶũĂŵĂŶdƌĂŶƐĂŬƐŝ<ŚƵƐƵƐ ŬƐƚƌĂ͕&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶ
dĞƚĂƉ DƵƐLJĂƌĂŬĂŚ ĚĂŶ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ dƌĂŶƐĂŬƐŝ <ŚƵƐƵƐ ŬƐƚƌĂ
DƵƐLJĂƌĂŬĂŚƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂƚŝĚĂŬŵĞůĞďŝŚŝZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƚŝŐĂ
ƌĂƚƵƐůŝŵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿĂƚĂƵĚĂƉĂƚ ĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌĚĂůĂŵ
ŵĂƚĂ ƵĂŶŐ h^ ;ŽůůĂƌ ŵĞƌŝŬĂ ^ĞƌŝŬĂƚͿ ĚĞŶŐĂŶ ŶŝůĂŝ LJĂŶŐ ƐĞƚĂƌĂ ƚŝĚĂŬ
ŵĞůĞďŝŚŝZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƚŝŐĂƌĂƚƵƐůŝŵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ͘
Ϯ͘ &ĂƐŝůŝƚĂƐWŝŶũĂŵĂŶdƌĂŶƐĂŬƐŝ<ŚƵƐƵƐ ŬƐƚƌĂ
Ͳ :ĞŶŝƐ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ͗ &ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ dƌĂŶƐĂŬƐŝ <ŚƵƐƵƐ ŬƚƌĂ Ͳ
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ>ĂŶŐƐƵŶŐͲKŶZĞǀŽůǀŝŶŐĂƐŝƐ
Ͳ hŶĐŽŵŵŝƚƚĞĚ &ĂĐŝůŝƚLJ ;“Fasilitas PTK
Ekstra”Ϳ
Ͳ :ƵŵůĂŚ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ͗ ŵĂŬƐŝŵƵŵ ƐĞƚŝŶŐŐŝͲƚŝŶŐŐŝŶLJĂ
ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƚŝŐĂ ƌĂƚƵƐ ŵŝůŝĂƌ
ZƵƉŝĂŚͿ͕ĚĞŶŐĂŶƐƵŬƵďƵŶŐĂƐĞďĞƐĂƌϱ͕ϵϱйͲ
ϳ͕ϬϬйƉĞƌƚĂŚƵŶ͘
&ĂƐŝůŝƚĂƐWd< ŬƐƚƌĂŝŶŝĚĂƉĂƚĚŝŐƵŶĂŬĂŶďĞƌƐĂŵĂͲƐĂŵĂƐĞĐĂƌĂƐƵďůŝŵŝƚĚĂƌŝ
&ĂƐŝůŝƚĂƐ Wd ƐĞďĞƐĂƌ ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƚŝŐĂ ƌĂƚƵƐ ůŝŵĂ ƉƵůƵŚ ŵŝůŝĂƌ
ZƵƉŝĂŚͿ LJĂŶŐ ďĞƌƐŝĨĂƚ ŝŶƚĞƌĐŚĂŶŐĞĂďůĞ ĚĞŶŐĂŶ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ dĞƚĂƉ
DƵƐLJĂƌĂŬĂŚƐƵďůŝŵŝƚ&ĂƐŝůŝƚĂƐWŝŶũĂŵĂŶdƌĂŶƐĂŬƐŝ<ŚƵƐƵƐ ŬƐƚƌĂDƵƐLJĂƌĂŬĂŚ
ƐĞďĞƐĂƌZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƚŝŐĂƌĂƚƵƐůŝŵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ͕ĚĞŶŐĂŶ
ŬĞƚĞŶƚƵĂŶ ũƵŵůĂŚ ƉĞŶŐŐƵŶĂĂŶ &ĂƐŝůŝƚĂƐ Wd͕ &ĂƐŝůŝƚĂƐ Wd< ŬƐƚƌĂ͕ &ĂƐŝůŝƚĂƐ
WĞŵďŝĂLJĂĂŶdĞƚĂƉDƵƐLJĂƌĂŬĂŚĚĂŶ&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶdƌĂŶƐĂŬƐŝ<ŚƵƐƵƐ
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
ŬƐƚƌĂ DƵƐLJĂƌĂŬĂŚ ƐĞĐĂƌĂ ďĞƌƐĂŵĂͲƐĂŵĂ ƚŝĚĂŬ ŵĞůĞďŝŚŝ
ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƚŝŐĂ ƌĂƚƵƐ ůŝŵĂ ƉƵůƵŚ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĂƚĂƵ ĚĂƉĂƚ
ĚŝŐƵŶĂŬĂŶ ŽůĞŚ ĞďŝƚƵƌ ĚĂůĂŵ ŵĂƚĂ ƵĂŶŐ h^ ;ŽůůĂƌ ŵĞƌŝŬĂ ^ĞƌŝŬĂƚͿ
ĚĞŶŐĂŶŶŝůĂŝLJĂŶŐƐĞƚĂƌĂƚŝĚĂŬŵĞůĞďŝŚŝZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƚŝŐĂƌĂƚƵƐůŝŵĂ
ƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ͘
ϯ͘ &ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶdĞƚĂƉDƵƐLJĂƌĂŬĂŚ͗
Ͳ :ĞŶŝƐ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ͗ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ dĞƚĂƉ DƵƐLJĂƌĂŬĂŚ Ͳ
&ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ >ĂŶŐƐƵŶŐ – KŶ
ZĞǀŽůǀŝŶŐ ĂƐŝƐ – hŶĐŽŵŵŝƚƚĞĚ ;“Fasilitas
PT Musyarakah”Ϳ
Ͳ :ƵŵůĂŚ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ͗ ŵĂŬƐŝŵƵŵ ƐĞƚŝŶŐŐŝͲƚŝŶŐŐŝŶLJĂ
ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƚŝŐĂ ƌĂƚƵƐ ŵŝůŝĂƌ
ZƵƉŝĂŚͿ͕ ŶŝƐďĂŚ ĂŬĂŶ ĚŝƚĞŶƚƵŬĂŶ ƉĂĚĂ ƐĂĂƚ
ƉĞŶĂƌŝŬĂŶ͘
&ĂƐŝůŝƚĂƐWdDƵƐLJĂƌĂŬĂŚŝŶŝĚĂƉĂƚĚŝŐƵŶĂŬĂŶďĞƌƐĂŵĂͲƐĂŵĂƐĞĐĂƌĂƐƵďůŝŵŝƚ
ĚĞŶŐĂŶ &ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ dƌĂŶƐĂŬƐŝ <ŚƵƐƵƐ ŬƐƚƌĂ DƵƐLJĂƌĂŬĂŚ ƐĞďĞƐĂƌ
ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƚŝŐĂ ƌĂƚƵƐ ůŝŵĂ ƉƵůƵŚ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĚĂŶ ďĞƌƐŝĨĂƚ
ŝŶƚĞƌĐŚĂŶŐĞĂďůĞ ĚĞŶŐĂŶ &ĂƐŝůŝƚĂƐ Wd ƐƵďůŝŵŝƚ &ĂƐŝůŝƚĂƐ Wd< ŬƐƚƌĂ ƐĞďĞƐĂƌ
ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƚŝŐĂ ƌĂƚƵƐ ůŝŵĂ ƉƵůƵŚ ŵŝůŝĂƌ ZƵƉŝĂŚͿ͕ ĚĞŶŐĂŶ
ŬĞƚĞŶƚƵĂŶ ũƵŵůĂŚ ƉĞŶŐŐƵŶĂĂŶ &ĂƐŝůŝƚĂƐ Wd͕ &ĂƐŝůŝƚĂƐ Wd< ŬƐƚƌĂ͕ &ĂƐŝŝƚĂƐ
Wd DƵƐLJĂƌĂŬĂŚ ĚĂŶ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ dƌĂŶƐĂŬƐŝ <ŚƵƐƵƐ ŬƚƐƌĂ
DƵƐLJĂƌĂŬĂŚƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂƚŝĚĂŬŵĞůĞďŝŚŝZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƚŝŐĂ
ƌĂƚƵƐůŝŵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿĂƚĂƵĚĂƉĂƚ ĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌĚĂůĂŵ
ŵĂƚĂ ƵĂŶŐ h^ ;ŽůůĂƌ ŵĞƌŝŬĂ ^ĞƌŝŬĂƚͿ ĚĞŶŐĂŶ ŶŝůĂŝ LJĂŶŐ ƐĞƚĂƌĂ ƚŝĚĂŬ
ŵĞůĞďŝŚŝZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƚŝŐĂƌĂƚƵƐůŝŵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ͘
ϰ͘ &ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶdƌĂŶƐĂŬƐŝ<ŚƵƐƵƐ ŬƐƚƌĂDƵƐLJĂƌĂŬĂŚ͗
Ͳ :ĞŶŝƐ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ͗ &ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶdƌĂŶƐĂŬƐŝ<ŚƵƐƵƐ ŬƐƚƌĂ
DƵƐLJĂƌĂŬĂŚͲ&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶ>ĂŶŐƐƵŶŐ
– KŶ ZĞǀŽůǀŝŶŐ ĂƐŝƐ – hŶĐŽŵŵŝƚƚĞĚ
;“Fasilitas PTK Ekstra Musyarakah”Ϳ
Ͳ :ƵŵůĂŚ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ͗ ŵĂŬƐŝŵƵŵ ƐĞƚŝŶŐŐŝͲƚŝŶŐŐŝŶLJĂ
ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƚŝŐĂ ƌĂƚƵƐ ŵŝůŝĂƌ
ZƵƉŝĂŚͿ͕ ŶŝƐďĂŚ ĂŬĂŶ ĚŝƚĞŶƚƵŬĂŶ ƉĂĚĂ ƐĂĂƚ
ƉĞŶĂƌŝŬĂŶ͘
&ĂƐŝůŝƚĂƐ Wd< ŬƐƚƌĂ DƵƐLJĂƌĂŬĂŚ ĚĂƉĂƚ ĚŝŐƵŶĂŬĂŶ ďĞƌƐĂŵĂͲƐĂŵĂ ƐĞĐĂƌĂ
ƐƵďůŝŵŝƚ ĚĂƌŝ &ĂƐŝůŝƚĂƐ Wd DƵƐLJĂƌĂŬĂŚ ƐĞďĞƐĂƌ ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƚŝŐĂ
ƌĂƚƵƐ ůŝŵĂ ƉƵůƵŚ ŵŝůŝĂƌ ZƵƉŝĂŚͿ LJĂŶŐ ďĞƌƐŝĨĂƚ ŝŶƚĞƌĐŚĂŶŐĞĂďůĞ ĚĞŶŐĂŶ
&ĂƐŝůŝƚĂƐWdƐƵďůŝŵŝƚ&ĂƐŝůŝƚĂƐWd< ŬƐƚƌĂƐĞďĞƐĂƌZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƚŝŐĂ
ƌĂƚƵƐ ůŝŵĂ ƉƵůƵŚ ŵŝůŝĂƌ ZƵƉŝĂŚͿ͕ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ ũƵŵůĂŚ ƉĞŶŐŐƵŶĂĂŶ
&ĂƐŝůŝƚĂƐWd͕Wd< ŬƐƚƌĂ͕&ĂƐŝŝƚĂƐWdDƵƐLJĂƌĂŬĂŚĚĂŶ&ĂƐŝůŝƚĂƐWŝŶũĂŵĂŶWd<
ŬƚƌĂ DƵƐLJĂƌĂŬĂŚ ƐĞĐĂƌĂ ďĞƌƐĂŵĂͲƐĂŵĂ ƚŝĚĂŬ ŵĞůĞďŝŚŝ
ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƚŝŐĂ ƌĂƚƵƐ ůŝŵĂ ƉƵůƵŚ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĂƚĂƵ ĚĂƉĂƚ
ĚŝŐƵŶĂŬĂŶ ŽůĞŚ ĞďŝƚƵƌ ĚĂůĂŵ ŵĂƚĂ ƵĂŶŐ h^ ;ŽůůĂƌ ŵĞƌŝŬĂ ^ĞƌŝŬĂƚͿ
ĚĞŶŐĂŶŶŝůĂŝLJĂŶŐƐĞƚĂƌĂƚŝĚĂŬŵĞůĞďŝŚŝZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƚŝŐĂƌĂƚƵƐůŝŵĂ
ƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ͘
dƵũƵĂŶ WĞƌƐĞƌŽĂŶ ŵĞŶŐŐƵŶĂŬĂŶ ĨĂƐŝůŝƚĂƐͲĨĂƐŝůŝƚĂƐ ƚĞƌƐĞďƵƚ ƵŶƚƵŬ ƉĞŵďŝĂLJĂĂŶ ŵŽĚĂů
ŬĞƌũĂ
:ĂƚƵŚdĞŵƉŽ &ĂƐŝůŝƚĂƐͲĨĂƐŝůŝƚĂƐƚĞƌƐĞďƵƚũĂƚƵŚƚĞŵƉŽƉĂĚĂƚĂŶŐŐĂůϭĞƐĞŵďĞƌϮϬϮϱ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
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PT INDOMOBIL FINANCE INDONESIA
EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<ĂŶŬEŝĂŐĂ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬEŝĂŐĂƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŽƚĂůŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŝŶŝĂĚĂůĂŚƐĞďĞƐĂƌ
;KƵƚƐƚĂŶĚŝŶŐͿ ZƉϯϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
ϳ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ^LJĂƌĂƚĚĂŶ<ĞƚĞŶƚƵĂŶhŵƵŵWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚEŽ͘ϬϱϬͬ^<hͬKͲdŚĂŵƌŝŶͬϮϬϭϬ
ƚĞƌƚĂŶŐŐĂůϭϲWĞďƌƵĂƌŝϮϬϭϬLJĂŶŐĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶĚĂŶƚĞůĂŚĚŝůĞŐĂůŝƐŝƌŽůĞŚ
ǀĞůŝŶĞ'ĂŶĚĂƵůŝZĂũĂŐƵŬŐƵŬ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂĚĞŶŐĂŶEŽ͘ϬϬϯͬ>ĞŐͬ//ͬϮϬϭϬ
ũƵŶĐƚŽŬƚĂWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚ;ĂĚĂŶhƐĂŚĂͿEŽ͘ϭϵƚĂŶŐŐĂůϭϲWĞďƌƵĂƌŝϮϬϭϬLJĂŶŐ
ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ ǀĞůŝŶĞ 'ĂŶĚĂƵůŝ ZĂũĂŐƵŬŐƵŬ͕ ^͘,͕͘ EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ͕
ƐĞůĂŶũƵƚŶLJĂďĞďĞƌĂƉĂŬĂůŝŵĞŶŐĂůĂŵŝƉĞƌƵďĂŚĂŶĚŝŵĂŶĂƉĞƌƵďĂŚĂŶLJĂŶŐƚĞƌĂŬŚŝƌ
ďĞƌĚĂƐĂƌŬĂŶWĞƌƵďĂŚĂŶWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚƚĂŶŐŐĂůϮϵ:ƵůŝϮϬϮϰ͕ĚŝďƵĂƚĚŝďĂǁĂŚ
ƚĂŶŐĂŶũƵŶĐƚŽŬƚĂWĞƌƵďĂŚĂŶWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚEŽ͘ϬϭƚĂŶŐŐĂůϭEŽǀĞŵďĞƌϮϬϮϰ͕
ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶsĞƌŽŶŝĐĂEĂƚĂĂĚŵĂĚũĂ͕^͘,͕͘D͘ŽƌƉĚŵ͕͘D͘Žŵŵ;ƵƐŝŶĞƐƐ
>Ăǁ), Notaris di Jakarta (“Perubahan”) (selanjutnya disebut “PK Maybank”).
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬDĂLJďĂŶŬ/ŶĚŽŶĞƐŝĂdďŬ;“Maybank”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĞƌĚĂƐĂƌŬĂŶ W< DĂLJďĂŶŬ͕ DĂLJďĂŶŬ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ ƉŝŶũĂŵĂŶ ŬĞƉĂĚĂ
WĞƌƐĞƌŽĂŶ͗
;ŝͿ &ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ WƌŽŵĞƐ ĞƌƵůĂŶŐ ;ĞŵĂŶĚ >ŽĂŶͿ ŵĂŬƐŝŵĂů ƐĞďĞƐĂƌ
ZƉϯϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ ;ƚŝŐĂ ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ͕ ĚĞŶŐĂŶ ƐƵŬƵ ďƵŶŐĂ
ƐĞďĞƐĂƌϲ͕ϭϬйͲϲ͕ϳϲйƉĞƌƚĂŚƵŶ͘
;ŝŝͿ &ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ ĞƌũĂŶŐŬĂ ;dĞƌŵ >ŽĂŶͿ ƐĞďĞƐĂƌ ŵĂŬƐŝŵĂů
ZƉϯϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ ;ƚŝŐĂ ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĂƚĂƵ ŶŝůĂŝ LJĂŶŐ ƐĞƚĂƌĂ
;ĞŬƵŝǀĂůĞŶͿĚĂůĂŵďĞŶƚƵŬŵĂƚĂƵĂŶŐůĂŝŶ;ŵƵůƚŝĐƵƌƌĞŶĐLJͿ͕ĚĞŶŐĂŶŝŶĚŝŬĂƐŝ
ƐƵŬƵďƵŶŐĂƐĞďĞƐĂƌϳ͕ϬϬйͲϳ͕ϮϱйƉĞƌƚĂŚƵŶ͘
dƵũƵĂŶ ŝŐƵŶĂŬĂŶĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂ
:ĂƚƵŚdĞŵƉŽ ϭ͘ :ĂŶŐŬĂ ǁĂŬƚƵ ĂƚĂƐ &ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ WƌŽŵĞƐ ĞƌƵůĂŶŐ ;ĞŵĂŶĚ >ŽĂŶͿ
ďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϮϳŐƵƐƚƵƐϮϬϮϱ͖
Ϯ͘ :ĂŶŐŬĂǁĂŬƚƵĂƚĂƐ&ĂƐŝůŝƚĂƐWŝŶũĂŵĂŶĞƌũĂŶŐŬĂ;dĞƌŵ>ŽĂŶͿŵĂŬƐŝŵƵŵϲϬ
;ĞŶĂŵ ƉƵůƵŚͿ ďƵůĂŶ ƐĞũĂŬ ƉĞŶĂŶĚĂƚĂŶŐĂŶĂŶ WĞƌƵďĂŚĂŶ͕ ĚĂŶ ƚĞŶŽƌ
ƉĞŵďŝĂLJĂĂŶŵĂŬƐŝŵƵŵϰϴďƵůĂŶƐĞũĂŬƉĞŶĂƌŝŬĂŶĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶ͘
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<DĂLJďĂŶŬ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂDĂLJďĂŶŬƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
ϴ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚĚĂŶWĞƌũĂŶũŝĂŶ:ĂŵŝŶĂŶEŽ͘ϮϲƚĂŶŐŐĂůϮϮDĂƌĞƚϮϬϭϬ͕LJĂŶŐ
ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ :ĂŵĞƐ ,ĞƌŵĂŶ ZĂŚĂƌĚũŽ͕ ^͘,͕͘ EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ͕ LJĂŶŐ
ƐĞůĂŶũƵƚŶLJĂ ŵĞŶŐĂůĂŵŝ ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ WĞƌƵďĂŚĂŶ WĞƌũĂŶũŝĂŶ
<ƌĞĚŝƚ EŽ͘ ϬϬϱͬ/ͲDDͬ> 'ͬϮϮͬWĞƌ͘/// ƚĂŶŐŐĂů Ϯ Ɖƌŝů ϮϬϮϰ͕ ĚŝďƵĂƚ Ěŝ ďĂǁĂŚ
ƚĂŶŐĂŶũƵŶĐƚŽ^ƵƌĂƚĂŶŬWĂŶŝŶ EŽ͘ Ϭϯϱͬ/ͬ ydͬϮϱƚĂŶŐŐĂůϭϳ&ĞďƌƵĂƌŝϮϬϮϱ͕
WĞƌŝŚĂů͗&ĂƐŝůŝƚĂƐWŝŶũĂŵĂŶDŽŶĞLJDĂƌŬĞƚŬĞƉĂĚĂWd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ
LJĂŶŐĚŝŬĞůƵĂƌŬĂŶĚĂŶĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚϮ;ĚƵĂͿsŝĐĞWƌĞƐŝĚĞŶƚĂŶŬWĂŶŝŶĚĂŶ
ƚĞůĂŚ ĚŝƐĞƚƵũƵŝ ŽůĞŚ WĞƌƐĞƌŽĂŶ ĚĞŶŐĂŶ ƚƵƌƵƚ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ WƌĞƐŝĚĞŶ
ŝƌĞŬƚƵƌWĞƌƐĞƌŽĂŶ;ƐĞůĂŶũƵƚŶLJĂƐĞĐĂƌĂďĞƌƐĂŵĂͲsama disebut “PK Panin”).
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬWĂŶ/ŶĚŽŶĞƐŝĂdďŬ;“Bank”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬŵĞŵďĞƌŝŬĂŶĨĂƐŝůŝƚĂƐWŝŶũĂŵĂŶDŽŶĞLJDĂƌŬĞƚ;ƌĞǀŽůǀŝŶŐͿŬĞƉĂĚĂWĞƌƐĞƌŽĂŶ
ƐĞďĞƐĂƌ ZƉϴϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ ;ĚĞůĂƉĂŶ ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĂƚĂƵ ŶŝůĂŝ LJĂŶŐ
ƐĞƚĂƌĂ;ĞŬƵŝǀĂůĞŶͿĚĂůĂŵŽůůĂƌŵĞƌŝŬĂ^ĞƌŝŬĂƚ͘
^ƵŬƵƵŶŐĂ ϳ͕ϱϬйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ &ĂƐŝůŝƚĂƐŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂƉĞŵďŝĂLJĂĂŶ
:ĂŶŐŬĂtĂŬƚƵ ϮϮ:ƵŶŝϮϬϮϱ
WĂĚĂƚĂŶŐŐĂůĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝ͕WĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝŽƵƚƐƚĂŶĚŝŶŐ
ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŝŶŝ ƐĞŚŝŶŐŐĂ ƚŝĚĂŬ ƚĞƌƐĞĚŝĂ ƚĂŶŐŐĂů ũĂƚƵŚ ƚĞŵƉŽ͘ ^ĞůĂŶũƵƚŶLJĂ͕
WĞƌƐĞƌŽĂŶĚĂŶĂŶŬWĂŶŝŶƚĞůĂŚƐĞƉĂŬĂƚƵŶƚƵŬŵĞŵƉĞƌƉĂŶũĂŶŐũĂŶŐŬĂǁĂŬƚƵĂƚĂƐ
ĨĂƐŝůŝƚĂƐ ĚĂŶ ƵŶƚƵŬ ĚĚĞŶĚƵŵ WĞƌƉĂŶũĂŶŐĂŶŶLJĂ ĂƚĂƐ W< WĂŶŝŶ ƚĞƌƐĞďƵƚ ŚŝŶŐŐĂ
ƐĂĂƚŝŶŝŵĂƐŝŚĚĂůĂŵƉƌŽƐĞƐƉĞŵďƵĂƚĂŶŽůĞŚĂŶŬWĂŶŝŶ͕ƐĞůĂŬƵ<ƌĞĚŝƚƵƌ͘
:ĂŵŝŶĂŶ dĂŶƉĂŬŚƵƐƵƐũĂŵŝŶĂŶ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< WĂŶŝŶ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬWĂŶŝŶƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
ϵ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ^ƵƌĂƚ ĂŶŬ WĂŶŝŶ EŽ͘ Ϯϰϭͬ/ͬ ydͬϮϮ ƚĂŶŐŐĂů ϵ ŐƵƐƚƵƐ ϮϬϮϮ͕ WĞƌŝŚĂů &ĂƐŝůŝƚĂƐ
WŝŶũĂŵĂŶ dĞƚĂƉ /s ŬĞƉĂĚĂ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ ĚŝŬĞůƵĂƌŬĂŶ ĚĂŶ
ĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚϮ;ĚƵĂͿ sŝĐĞWƌĞƐŝĚĞŶƚĂŶŬ WĂŶŝŶĚĂŶƚĞůĂŚĚŝƐĞƚƵũƵŝŽůĞŚ
Perseroan dengan turut ditandatangani oleh Presiden Direktur Perseroan (“PK
Panin PT IV”).
WĂƌĂWŝŚĂŬ ϭ͘ Perseroan (“Debitur”); dan
Ϯ͘ PT Bank Pan Indonesia Tbk (“Bank”)
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲsama disebut “Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬŵĞŵďĞƌŝŬĂŶĨĂƐŝůŝƚĂƐWŝŶũĂŵĂŶdĞƚĂƉ/s;Wd/sͿŬĞƉĂĚĂWĞƌƐĞƌŽĂŶƐĞďĞƐĂƌ
ZƉϱϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ůŝŵĂƌĂƚƵƐŵŝůŝĂƌZƵƉŝĂŚͿ͘&ĂƐŝůŝƚĂƐŝŶŝďĞƌƐŝĨĂƚŶŽŶͲƌĞǀŽůǀŝŶŐ͘
^ƵŬƵƵŶŐĂ ϲ͕ϳϱйͲϳ͕ϯϱйƉĞƌƚĂŚƵŶ
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dƵũƵĂŶ &ĂƐŝůŝƚĂƐŝŶŝĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂ
:ĂƚƵŚdĞŵƉŽ ϭϲĞƐĞŵďĞƌϮϬϮϱ
:ĂŵŝŶĂŶ ƵŶƚƵŬŵĞŶũĂŵŝŶƉĞŵďĂLJĂƌĂŶŬĞŵďĂůŝƐĞĐĂƌĂƚĞƌƚŝďĚĂŶƐĞďĂŐĂŝŵĂŶĂŵĞƐƚŝŶLJĂ
ĂƚĂƐŚƵƚĂŶŐ͕ĞďŝƚƵƌŵĞŵďĞƌŝŬĂŶũĂŵŝŶĂŶŬĞƉĂĚĂĂŶŬďĞƌƵƉĂƉŝƵƚĂŶŐͬƚĂŐŝŚĂŶ
LJĂŶŐŶŝůĂŝŶLJĂƚŝĚĂŬŬƵƌĂŶŐϱϬйĚĂƌŝũƵŵůĂŚƉŽŬŽŬƉŝŶũĂŵĂŶƚĞƌŚƵƚĂŶŐ͘
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< WĂŶŝŶ /s͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬWĂŶŝŶƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŝŶŝ ĂĚĂůĂŚ
;KƵƚƐƚĂŶĚŝŶŐͿ ƐĞďĞƐĂƌZƉϭϰϵ͘ϵϵϵ͘ϵϵϵ͘ϵϵϲ
ϭϬ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚĚĂŶWĞƌũĂŶũŝĂŶ:ĂŵŝŶĂŶEŽ͘ϬϱƚĂŶŐŐĂůϭϰĞƐĞŵďĞƌϮϬϮϯ͕
ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ^ƌŝZĂŚĂLJƵŶŝŶŐƐŝŚ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ;“PK Bank Panin V”Ϳ͘
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬWĂŶ/ŶĚŽŶĞƐŝĂdďŬ;“Bank”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ dĞƚĂƉ s ;Wd sͿ ŬĞƉĂĚĂ WĞƌƐĞƌŽĂŶ ƐĞďĞƐĂƌ
ZƉϱϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ůŝŵĂƌĂƚƵƐŵŝůŝĂƌZƵƉŝĂŚͿ͘&ĂƐŝůŝƚĂƐŝŶŝďĞƌƐŝĨĂƚŶŽŶͲƌĞǀŽůǀŝŶŐ
^ƵŬƵƵŶŐĂ ϲ͕ϳϱйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ &ĂƐŝůŝƚĂƐŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂƉĞŵďŝĂLJĂĂŶ
:ĂƚƵŚdĞŵƉŽ ϮƉƌŝůϮϬϮϳ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< WĂŶŝŶ s͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬWĂŶŝŶƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŝŶŝ ĂĚĂůĂŚ
;KƵƚƐƚĂŶĚŝŶŐͿ ƐĞďĞƐĂƌZƉϯϳϳ͘ϳϳϳ͘ϳϳϳ͘ϳϳϲ
ϭϭ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚEŽ͘ϬϮƚĂŶŐŐĂůϱEŽǀĞŵďĞƌϮϬϮϰĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ
Sri Rahayuningsih, S.H., Notaris di Jakarta (“PK Panin PT VI”).
WĂƌĂWŝŚĂŬ ϭ͘ Perseroan (“Debitur”); dan
Ϯ͘ PT Bank Pan Indonesia Tbk (“Bank”)
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲsama disebut “Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬŵĞŵďĞƌŝŬĂŶĨĂƐŝůŝƚĂƐWŝŶũĂŵĂŶdĞƚĂƉs/;Wds/ͿŬĞƉĂĚĂWĞƌƐĞƌŽĂŶƐĞďĞƐĂƌ
ZƉϱϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ůŝŵĂƌĂƚƵƐŵŝůŝĂƌZƵƉŝĂŚͿ͘&ĂƐŝůŝƚĂƐŝŶŝďĞƌƐŝĨĂƚŶŽŶͲƌĞǀŽůǀŝŶŐ͘
63
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
/ŶĚŝŬĂƐŝ^ƵŬƵƵŶŐĂ ϳ͕ϬϬйͲϳ͕ϮϱйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ &ĂƐŝůŝƚĂƐŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂƉĞŵďŝĂLJĂĂŶ
:ĂƚƵŚdĞŵƉŽ ϱEŽǀĞŵďĞƌϮϬϮϵ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< WĂŶŝŶ s/͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬWĂŶŝŶƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
ϭϮ͘ EĂŵĂWĞƌũĂŶũŝĂŶ <ĞƚĞŶƚƵĂŶ ĚĂŶ ^LJĂƌĂƚͲƐLJĂƌĂƚ hŵƵŵ Ăƌŝ WĞƌũĂŶũŝĂŶ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ ĂŶŬ d
LJĂŶŐƚĞůĂŚĚŝůĞŐĂůŝƐĂƐŝŽůĞŚ ǀĞůŝŶĞ'ĂŶĚĂƵůŝZĂũĂŐƵŬŐƵŬ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ
ĚĞŶŐĂŶEŽ͘>ĞŐĂůŝƐĂƐŝ͗Ϭϯϱͬ> 'ͬ/yͬϮϬϭϯƚĂŶŐŐĂůϭϴ^ĞƉƚĞŵďĞƌϮϬϭϰũƵŶĐƚŽŬƚĂ
WĞƌũĂŶũŝĂŶ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚEŽ͘ϭϲƚĂŶŐŐĂůϭϴ^ĞƉƚĞŵďĞƌϮϬϭϰ ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ
ǀĞůŝŶĞ'ĂŶĚĂƵůŝZĂũĂŐƵŬŐƵŬ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͕LJĂŶŐƐĞůĂŶũƵƚŶLJĂŵĞŶŐĂůĂŵŝ
ďĞďĞƌĂƉĂ ŬĂůŝ ƉĞƌƵďĂŚĂŶ͕ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ WĞƌƵďĂŚĂŶ ƚĂƐ WĞƌũĂŶũŝĂŶ
&ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ EŽ͘ ϰϵϮͬͬy//ͬϮϬϮϰ ƚĂŶŐŐĂů ϯϬ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ĚŝďƵĂƚ
di bawah tangan (“Perubahan PK Bank CTBC Indonesia”) (“PK Bank CTBC
Indonesia”).
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬd/ŶĚŽŶĞƐŝĂ;“Bank CTBC Indonesia”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ d /ŶĚŽŶĞƐŝĂ ƐĞƚƵũƵ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŬĞƉĂĚĂ WĞƌƐĞƌŽĂŶ ĚĂŶ
WĞƌƐĞƌŽĂŶ ƐĞƚƵũƵ ƵŶƚƵŬ ŵĞŶĞƌŝŵĂ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ĚĂƌŝ ĂŶŬ d /ŶĚŽŶĞƐŝĂ͕
ďĞƌƵƉĂ &ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ :ĂŶŐŬĂ WĞŶĚĞŬ ƐĞũƵŵůĂŚ ZƉϭϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ
;ƐĞƌĂƚƵƐůŝŵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ͘
^ƵŬƵƵŶŐĂ ϲ͕ϭϬйͲϲ͕ϳϬйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ &ĂƐŝůŝƚĂƐWŝŶũĂŵĂŶŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ͘
:ĂƚƵŚdĞŵƉŽ ϯϬ^ĞƉƚĞŵďĞƌϮϬϮϱ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<ĂŶŬd/ŶĚŽŶĞƐŝĂ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ
;ŶĞŐĂƚŝǀĞĐŽǀĞŶĂŶƚƐͿLJĂŶŐĚĂƉĂƚ͗;ĂͿŵĞŶŐŚĂůĂŶŐŝƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶWh
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶ
ŬĞƉĞŶƚŝŶŐĂŶƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶ
ŬĂƌĞŶĂŶLJĂ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ďĞƌŬĞǁĂũŝďĂŶ ƵŶƚƵŬ ŵĞŵŝŶƚĂ ƉĞƌƐĞƚƵũƵĂŶ ƚĞƌƚƵůŝƐ
ƚĞƌůĞďŝŚĚĂŚƵůƵŬĞƉĂĚĂĂŶŬd/ŶĚŽŶĞƐŝĂƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
ϭϯ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚ:ĂŶŐŬĂWĞŶĚĞŬEŽŵŽƌ͗ZK͘<Wͬϭϰϲͬ<:WͬϭϱEŽ͘ϭϯƚĂŶŐŐĂů
Ϯϳ ŐƵƐƚƵƐ ϮϬϭϱ ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ ǀĞůŝŶĞ 'ĂŶĚĂƵůŝ ZĂũĂŐƵŬŐƵŬ͕ ^͘,͕͘ EŽƚĂƌŝƐ
Ěŝ :ĂŬĂƌƚĂ ũƵŶĐƚŽ ĚĚĞŶĚƵŵ s// ;<ĞƚƵũƵŚͿ WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ :ĂŶŐŬĂ WĞŶĚĞŬ
EŽ͘ZK͘<Wͬϭϰϲͬ<:WͬϭϱŬƚĂEŽŵŽƌ͗ϯϴƚĂŶŐŐĂůϭϴ:ƵůŝϮϬϮϮ͕ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ
EĂŶĞƚƚĞ ĂŚLJĂŶŝĞ ,ĂŶĚĂƌŝ Ěŝ tĂƌƐŝƚŽ͕ ^͘,͕͘ EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ͕ ƐĞůĂŶũƵƚŶLJĂ
ŵĞŶŐĂůĂŵŝƉĞƌƵďĂŚĂŶƚĞƌĂŬŚŝƌďĞƌĚĂƐĂƌŬĂŶĚĚĞŶĚƵŵy;<ĞƐĞƉƵůƵŚͿWĞƌũĂŶũŝĂŶ
<ƌĞĚŝƚ:ĂŶŐŬĂWĞŶĚĞŬEŽ͘ZK͘<Wͬϭϰϲͬ<:WͬϭϱŬƚĂEŽŵŽƌ͗ϯϴƚĂŶŐŐĂůϮϱŐƵƐƚƵƐ
ϮϬϮϰ;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ“PK Bank Mandiri Kredit Jangka Pendek”Ϳ
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬDĂŶĚŝƌŝ;WĞƌƐĞƌŽͿdďŬ;“Bank Mandiri/Kreditur”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĞƌĚĂƐĂƌŬĂŶW<ĂŶŬDĂŶĚŝƌŝ<ƌĞĚŝƚ:ĂŶŐŬĂWĞŶĚĞŬ͕<ƌĞĚŝƚƵƌŵĞŵďĞƌŝŬĂŶĨĂƐŝůŝƚĂƐ
ŬƌĞĚŝƚ ŬĞƉĂĚĂ ĞďŝƚƵƌ ĚĞŶŐĂŶ ũƵŵůĂŚ LJĂŶŐ ƚŝĚĂŬ ŵĞůĞďŝŚŝ ůŝŵŝƚ ŬƌĞĚŝƚ ƐĞďĞƐĂƌ
ZƉϰϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ;ĞŵƉĂƚƌĂƚƵƐŵŝůŝĂƌZƵƉŝĂŚͿ;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ“Fasilitas
Kredit”Ϳ͘
^ƵŬƵƵŶŐĂ ϱ͕ϵϱйͲϲ͕ϲϱйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ ĞďŝƚƵƌ ŵĞŶŐŐƵŶĂŬĂŶ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ ƵŶƚƵŬ ŬĞďƵƚƵŚĂŶ ŵŽĚĂů ŬĞƌũĂ ĂƚĂƵ
ŐĂƉͬĚĞĨŝĐŝƚĐĂƐŚĨůŽǁũĂŶŐŬĂƉĞŶĚĞŬ
:ĂƚƵŚdĞŵƉŽ ϮϲŐƵƐƚƵƐϮϬϮϱ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< ĂŶŬ DĂŶĚŝƌŝ :ĂŶŐŬĂ WĞŶĚĞŬ͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ
ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ
ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ
ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ
ŵĞŵďĂƚĂƐŝĚĂŶŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶƐĞƌƚĂ ŚĂŬĚĂƌŝ ƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ /͖ ĚĂŶ ŬĂƌĞŶĂŶLJĂ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ďĞƌŬĞǁĂũŝďĂŶ ƵŶƚƵŬ
ŵĞŵŝŶƚĂ ƉĞƌƐĞƚƵũƵĂŶ ƚĞƌƚƵůŝƐ ƚĞƌůĞďŝŚ ĚĂŚƵůƵ ŬĞƉĂĚĂ ĂŶŬ DĂŶĚŝƌŝ ƵŶƚƵŬ
ŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŝŶŝ ĂĚĂůĂŚ
;KƵƚƐƚĂŶĚŝŶŐͿ ƐĞďĞƐĂƌZƉϰϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
ϭϰ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ^ƵƌĂƚĂŶŬDĂŶĚŝƌŝEŽ͘'͘ϴϭͬ^͘^WW<͘ϮϯϮͬϮϬϮϯƚĂŶŐŐĂůϮϱŐƵƐƚƵƐϮϬϮϯ͕
ƉĞƌŝŚĂů͗ ^ƵƌĂƚ WĞŶĂǁĂƌĂŶ WĞŵďĞƌŝĂŶ <ƌĞĚŝƚ ;^WW<Ϳ LJĂŶŐ ĚŝŬĞůƵĂƌŬĂŶ ĚĂŶ
ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ sŝĐĞ WƌĞƐŝĚĞŶƚ ĂŶŬ DĂŶĚŝƌŝ ƐĞƌƚĂ ƚĞůĂŚ ĚŝƐĞƚƵũƵŝ ŽůĞŚ
WĞƌƐĞƌŽĂŶ ĚĞŶŐĂŶ ƚƵƌƵƚ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ WƌĞƐŝĚĞŶ ŝƌĞŬƚƵƌ WĞƌƐĞƌŽĂŶ ͕
ƐĞůĂŶũƵƚŶLJĂ ŵĞŶŐĂůĂŵŝ ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ ĚĚĞŶĚƵŵ y
;<ĞƐĞƉƵůƵŚͿ ƚĂƐ WĞƌũĂŶũŝĂŶ &ĂƐŝůŝƚĂƐ dƌĞĂƐƵƌLJ >ŝŶĞ EŽ͘ ZKͲ<Wͬϭϰϰͬd>ͬϮϬϭϱ
ƚĂŶŐŐĂůϮϲŐƵƐƚƵƐϮϬϮϰ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶ;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ“Perjanjian
dƌĞĂƐƵƌLJ>ŝŶĞMandiri”Ϳ͘
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ PT Bank Mandiri (Persero) Tbk (“ĂŶŬDĂŶĚŝƌŝͬ<ƌĞĚŝƚƵƌ”)
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲsama disebut “Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ dƌĞĂƐƵƌLJ>ŝŶĞƵŶƚƵŬ&ŽƌĞdž͕^ƉŽƚ͕dŽĚĂLJ͕dŽŵ͕&ŽƌǁĂƌĚ͕^ǁĂƉĚĂŶKƉƚŝŽŶ͗
Ͳ >ŝŵŝƚ ͗ Ͳ h^ϭϬ͘ϬϬϬ͘ϬϬϬ;ƐĞƉƵůƵŚũƵƚĂŽůůĂƌŵĞƌŝŬĂ^ĞƌŝŬĂƚͿ
Ͳ Ğů͗h^ϲϬϬ͕ϬϬϬ;ĞŶĂŵƌĂƚƵƐƌŝďƵŽůůĂƌŵĞƌŝŬĂ^ĞƌŝŬĂƚͿ͘
Ͳ :ĞŶŝƐ ͗ &ŽƌĞŝŐŶ džĐŚĂŶŐĞ;&ŽƌĞdžͿ>ŝŶĞ
Ͳ ^ŝĨĂƚ ͗ hŶĐŽŵŵŝƚƚĞĚ
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
Ͳ dƵũƵĂŶ ͗ dƌĂŶƐĂŬƐŝdƌĞĂƐƵƌLJ;&ŽƌĞdž͕^ƉŽƚ͕dŽĚĂLJ͕dŽŵ͕&ŽƌǁĂƌĚ͕^ǁĂƉĚĂŶ
ŽƉƚŝŽŶͿ ĚĂůĂŵ ƌĂŶŐŬĂ ŚĞĚŐŝŶŐ ŬĞǁĂũŝďĂŶͬƉĞŶĞƌŝŵĂĂ ǀĂůƵƚĂ
ƐĞƐƵĂŝĚĞŶŐĂŶƉĞƌƐLJĂƌĂƚĂŶLJĂŶŐĚŝƚĞŶƚƵŬĂŶŽůĞŚĂŶŬ
Ͳ :ĂŵŝŶĂŶ ͗ ƚŝĚĂŬĚŝũĂŵŝŶĚĞŶŐĂŶũĂŵŝŶĂŶŬŚƵƐƵƐ
:ĂƚƵŚdĞŵƉŽ ϮϲŐƵƐƚƵƐϮϬϮϱ
WĞŵďĂƚĂƐĂŶ ^ĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ ĨĂƐŝůŝƚĂƐ dƌĞĂƐƵƌLJ >ŝŶĞ ĚĂƌŝ ĂŶŬ DĂŶĚŝƌŝ ƚĞƌƐĞďƵƚ ƚŝĚĂŬ
ƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞĐŽǀĞŶĂŶƚƐͿLJĂŶŐĚĂƉĂƚ͗;ĂͿ
ŵĞŶŐŚĂůĂŶŐŝƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/ĚĂŶ
ƌĞŶĐĂŶĂƉĞŶŐŐƵŶĂĂŶĚĂŶĂŚĂƐŝůWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/ĚĂŶͬĂƚĂƵ͖
;ďͿŵĞŵďĂƚĂƐŝĚĂŶŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ /͖ ĚĂŶ ŬĂƌĞŶĂŶLJĂ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ďĞƌŬĞǁĂũŝďĂŶ ƵŶƚƵŬ
ŵĞŵŝŶƚĂ ƉĞƌƐĞƚƵũƵĂŶ ƚĞƌƚƵůŝƐ ƚĞƌůĞďŝŚ ĚĂŚƵůƵ ŬĞƉĂĚĂ ĂŶŬ DĂŶĚŝƌŝ ƵŶƚƵŬ
ŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
ϭϱ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂ WĞƌũĂŶũŝĂŶ WĞŵďĞƌŝĂŶ &ĂƐŝůŝƚĂƐ DŽŶĞLJ DĂƌŬĞƚ EŽ͘ ϭϳ ƚĂŶŐŐĂů ϱ :ƵŶŝ ϮϬϭϱ
ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶƌƐ͘'ƵŶĂǁĂŶdĞĚũŽ͕^͘,͕͘D͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͕ƐĞůĂŶũƵƚŶLJĂ
ŵĞŶŐĂůĂŵŝ ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ ĚĚĞŶĚƵŵ WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ
EŽ͘ϮϲƚĂŶŐŐĂůϭϳDĞŝϮϬϮϯLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶŐƵƐƚŝŶĞ/ƌŝĂŶƚŝ͕^͘,͕͘D͘<Ŷ͕͘
EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ͕ ƐĞůĂŶũƵƚŶLJĂ ũƵŶĐƚŽ ^ƵƌĂƚ ĂŶŬ EŽďƵ EŽ͘ ϬϮϱϵͬ ydͬ>ͬ<WͲ
W>^ͬsͬϮϬϮϱ ƚĂŶŐŐĂů Ϯϭ DĞŝ ϮϬϮϱ͕ ƉĞƌŝŚĂů͗ WĞƌƐĞƚƵũƵĂŶ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ LJĂŶŐ
ĚŝŬĞůƵĂƌŬĂŶ ĚĂŶ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ ŽŵŵĞƌĐŝĂů >ĞŶĚŝŶŐ ŝǀ ,ĞĂĚ ĚĂŶ
ZĞůĂƚŝŽŶƐŚŝƉ DĂŶĂŐĞƌ ĂŶŬ EŽďƵ ƐĞƌƚĂ ƚĞůĂŚ ĚŝƐĞƚƵũƵŝ ŽůĞŚ WĞƌƐĞƌŽĂŶ ĚĞŶŐĂŶ
ƚƵƌƵƚ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ ŝƌĞŬƚƵƌ WĞƌƐĞƌŽĂŶ ;ƐĞůĂŶũƵƚŶLJĂ ĚŝƐĞďƵƚ “PK Bank
Nobu”Ϳ͘
WĂƌĂWŝŚĂŬ
ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬEĂƚŝŽŶĂůŶŽďƵdďŬ;“Bank”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ
ĂŶŬ ŵĞŵďĞƌŝŬĂŶ &ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ dĞƚĂƉ KŶ ĞŵĂŶĚ ;DŽŶĞLJ DĂƌŬĞƚ >ŝŶĞͿ
ŬĞƉĂĚĂĞďŝƚƵƌƐĞďĞƐĂƌZƉϭϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ;ƐĞƌĂƚƵƐŵŝůŝĂƌZƵƉŝĂŚͿ͘
^ƵŬƵƵŶŐĂ ϲ͕ϭϬйͲϲ͕ϲϬйƉĞƌƚĂŚƵŶ
:ĂƚƵŚdĞŵƉŽ ϮϰDĞŝϮϬϮϲ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<EŽďƵĂŶŬ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂEŽďƵĂŶŬƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
ϭϲ͘ EĂŵĂWĞƌũĂŶũŝĂŶ WĞƌũĂŶũŝĂŶ&ĂƐŝůŝƚĂƐEŽ͘^D/ͬE^ͬϬϯϵϲƚĂŶŐŐĂůϭϴDĂƌĞƚϮϬϭϲ͕ĚŝďƵĂƚĚŝďĂǁĂŚ
ƚĂŶŐĂŶ͕ ƐĞůĂŶũƵƚŶLJĂ͕ ŵĞŶŐĂůĂŵŝ ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ WĞƌƵďĂŚĂŶ
<ĞƚŝŐĂ ƚĂŶŐŐĂů ϳ Ɖƌŝů ϮϬϮϱ ƚĂƐ WĞƌƵďĂŚĂŶ ĚĂŶ WĞƌŶLJĂƚĂĂŶ <ĞŵďĂůŝ ƚĂƐ
WĞƌũĂŶũŝĂŶ &ĂƐŝůŝƚĂƐ EŽ͘ ^D/ͬE^ͬϬϯϵϲ ƚĂŶŐŐĂů Ϯϴ ĞƐĞŵďĞƌ ϮϬϮϭ͕ ĚŝďƵĂƚ
ĚŝďĂǁĂŚƚĂŶŐĂŶũƵŶĐƚŽ^ĐŚĞĚƵůĞEŽ͘ϬϭϬƚĂŶŐŐĂůϳƉƌŝůϮϬϮϱ͕ĚŝďƵĂƚĚŝďĂǁĂŚ
tangan (selanjutnya disebut “PK SMBCI”).
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Peminjam”Ϳ͖ĚĂŶ
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
Ϯ͘ PT Bank SMBC Indonesia Tbk (“^D/”)
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ^D/ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ ƉŝŶũĂŵĂŶ ŬĞƉĂĚĂ WĞŵŝŶũĂŵ͕ ďĞƌƵƉĂ &ĂƐŝůŝƚĂƐ
ƉŝŶũĂŵĂŶ ďĞƌƵůĂŶŐ ;ƌĞǀŽůǀŝŶŐͿ͕ ƚĂŶƉĂ ŬŽŵŝƚŵĞŶ ;ƵŶĐŽŵŝƚƚĞĚͿ ƐĞďĞƐĂƌ
ZƉϳϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ ;ƚƵũƵŚ ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĂƚĂƵ ŶŝůĂŝ LJĂŶŐ ƐĞƚĂƌĂ ĚĂůĂŵ
ŵĂƚĂƵĂŶŐh^͕ĚĞŶŐĂŶƐƵŬƵďƵŶŐĂƐĞďĞƐĂƌϲ͕ϯϬйͲϳ͕ϲϬйƉĞƌƚĂŚƵŶ
:ĂŶŐŬĂtĂŬƚƵ ϯϭDĂƌĞƚϮϬϮϲ
dƵũƵĂŶ &ĂƐŝůůŝƚĂƐŬƌĞĚŝƚŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< ^D/͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂ^D/ƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
ϭϳ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂ WĞƌũĂŶũŝĂŶ WĞŵďĞƌŝĂŶ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ ;>ŝŶĞ &ĂĐŝůŝƚLJͿ EŽ͘ ϲϮ ƚĂŶŐŐĂů
ϯϬDĞŝϮϬϮϰ͕ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶƐŚŽLJĂZĂƚĂŵĂ͕^͘,͕͘D͘<Ŷ͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ
(“Fasilitas Musyarakah BTPN Syariah”).
WĂƌĂWŝŚĂŬ ϭ͘ Perseroan (“Nasabah”); dan
Ϯ͘ PT Bank BTPN Syariah Tbk (“BTPN Syariah”)
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲsama disebut “Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ dWE^LJĂƌŝĂŚŵĞŵďĞƌŝŬĂŶ&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶDŽĚĂů<ĞƌũĂ;WD<ͿϭDƵƐLJĂƌĂŬĂŚ
ŬĞƉĂĚĂ EĂƐĂďĂŚ ƐĞďĞƐĂƌ ZƉϭϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ ;ƐĞƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĚĂŶ
ďĞƌƐŝĨĂƚƌĞǀŽůǀŝŶŐďĂƐŝƐĚĂŶƵŶĐŽŵŵŝƚƚĞĚ͘
^ĞůĂŶũƵƚŶLJĂ͕ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ DŽĚĂů <ĞƌũĂ ;WD<Ϳ ϭ DƵƐLJĂƌĂŬĂŚ ƚĞƌƐĞďƵƚ
ďĞƌƐŝĨĂƚ^Ƶď>ŝŵŝƚĚĞŶŐĂŶ&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶDŽĚĂů<ĞƌũĂ;WD<Ϳ:ĂŶŐŬĂWĞŶĚĞŬ
ƐĞďĞƐĂƌ ZƉϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ ;ůŝŵĂ ƉƵůƵŚ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĚĂŶ ďĞƌƐŝĨĂƚ ƌĞǀŽůǀŝŶŐ
ďĂƐŝƐĚĂŶƵŶĐŽŵŵŝƚƚĞĚ͘
EŝƐďĂŚďĂŐŝŚĂƐŝů EŝƐďĂŚďĂŐŝŚĂƐŝůƉŽƌƐŝdWE^LJĂƌŝĂŚĂŬĂŶĚŝƚĞŶƚƵŬĂŶƉĂĚĂƐĞƚŝĂƉƉĞŶĂƌŝŬĂŶĚĂŶ
ĚŝĚĂƐĂƌŬĂŶƉĂĚĂƉƌŽLJĞŬƐŝƉĞŶĚĂƉĂƚĂŶďƵůĂŶĂŶhŶŝƚhƐĂŚĂ^LJĂƌŝĂŚEĂƐĂďĂŚLJĂŶŐ
ĚŝƚĞŶƚƵŬĂŶ ĂŵďĂŶŐ ďĂƚĂƐ ;ƚŚƌĞƐŚŽůĚͿ ŵŝŶŝŵƵŵŶLJĂ͕ ĚĞŶŐĂŶ ĂĐƵĂŶ ĞdžƉĞĐƚĞĚ
ƌĞƚƵƌŶĂŶŬ͘
:ĂŶŐŬĂtĂŬƚƵ ϯϬDĞŝϮϬϮϴ
dƵũƵĂŶ &ĂƐŝůůŝƚĂƐŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚEĂƐĂďĂŚƵŶƚƵŬŵŽĚĂůŬĞƌũĂƵŶŝƚƵƐĂŚĂƐLJĂƌŝĂŚ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ &ĂƐŝůŝƚĂƐ DƵƐLJĂƌĂŬĂŚ dWE ^LJĂƌŝĂŚ͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ
ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ
ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ
ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ
ŵĞŵďĂƚĂƐŝĚĂŶŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶƐĞƌƚĂ ŚĂŬĚĂƌŝ ƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ /͖ ĚĂŶ ŬĂƌĞŶĂŶLJĂ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ďĞƌŬĞǁĂũŝďĂŶ ƵŶƚƵŬ
ŵĞŵŝŶƚĂ ƉĞƌƐĞƚƵũƵĂŶ ƚĞƌƚƵůŝƐ ƚĞƌůĞďŝŚ ĚĂŚƵůƵ ŬĞƉĂĚĂ dWE ^LJĂƌŝĂŚ ƵŶƚƵŬ
ŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
67
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PT INDOMOBIL FINANCE INDONESIA
EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŝŶŝ ĂĚĂůĂŚ ƐĞďĞƐĂƌ
;KƵƚƐƚĂŶĚŝŶŐͿ ZƉϯϰ͘ϱϱϬ͘ϵϲϬ͘ϳϵϰ
ϭϴ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂ WĞƌũĂŶũŝĂŶ &ĂƐŝůŝƚĂƐ WĞƌďĂŶŬĂŶ EŽ͘ Ϭϭ ƚĂŶŐŐĂů ϲ :ĂŶƵĂƌŝ ϮϬϭϳ ĚŝďƵĂƚ
ĚŝŚĂĚĂƉĂŶsĞƌŽŶŝĐĂEĂƚĂĂĚŵĂĚũĂ͕^͘,͕͘D͘ŽƌƉĚŵ͕͘D͘Žŵŵ;ƵƐŝŶĞƐƐ>ĂǁͿ͕
EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ͕ ƐĞůĂŶũƵƚŶLJĂ ŵĞŶŐĂůĂŵŝ ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ
ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ WĞƌƵďĂŚĂŶ <ĞĚĞůĂƉĂŶ ĂƚĂƐ WĞƌũĂŶũŝĂŶ &ĂƐŝůŝƚĂƐ
WĞƌďĂŶŬĂŶ EŽ͘ϮϳϯͬW&WͲ^/ͬyͬϭͲϮͬϮϬϮϰ ƚĂŶŐŐĂů Ϯϰ KŬƚŽďĞƌ ϮϬϮϰ͕ ĚŝďƵĂƚ
ĚŝďĂǁĂŚƚĂŶŐĂŶ;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ“PK DBS”Ϳ͘
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬ^/ŶĚŽŶĞƐŝĂ;“DBS”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ^ŵĞŵďĞƌŝŬĂŶĨĂƐŝůŝƚĂƐƉĞƌďĂŶŬĂŶĚĂůĂŵďĞŶƚƵŬƵŶĐŽŵŵŝƚƚĞĚƌĞǀŽůǀŝŶŐĐƌĞĚŝƚ
ĨĂĐŝůŝƚLJ ĚĞŶŐĂŶ ũƵŵůĂŚ ƉŽŬŽŬ ŵĂŬƐŝŵƵŵ ZƉϭϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ ;ƐĞƌĂƚƵƐ ŵŝůŝĂƌ
ZƵƉŝĂŚͿ ĂƚĂƵ ĞŬƵŝǀĂůĞŶ ĚĂůĂŵ ŵĂƚĂ ƵĂŶŐ ŽůůĂƌ ŵĞƌŝŬĂ ^ĞƌŝŬĂƚ ;h^Ϳ ĚĞŶŐĂŶ
ũĂŶŐŬĂǁĂŬƚƵƵŶƚƵŬƐĞƚŝĂƉƉĞŶĂƌŝŬĂŶŵĂŬƐŝŵƵŵϭ;ƐĂƚƵͿƚĂŚƵŶ͘
^ƵŬƵƵŶŐĂ ϲ͕ϰϬйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ &ĂƐŝůůŝƚĂƐŬƌĞĚŝƚŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂ
:ĂƚƵŚdĞŵƉŽ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ ŝŶŝ ĂŬĂŶ ďĞƌĂŬŚŝƌ ƉĂĚĂ ƚĂŶŐŐĂů ϯϬ ^ĞƉƚĞŵďĞƌ ϮϬϮϱ ĚĂŶ ĂŬĂŶ
ĚŝƉĞƌƉĂŶũĂŶŐ ƐĞĐĂƌĂ ŽƚŽŵĂƚŝƐ ƵŶƚƵŬ ũĂŶŐŬĂ ǁĂŬƚƵ ϯ ;ƚŝŐĂͿ ďƵůĂŶ ƐĞũĂŬ ƚĂŶŐŐĂů
ũĂƚƵŚ ƚĞŵƉŽ ĚĞŶŐĂŶ ƉĞŵďĞƌŝƚĂŚƵĂŶ ŬĞƉĂĚĂ ĞďŝƚƵƌ͕ ŬĞĐƵĂůŝ ũŝŬĂ &ĂƐŝůŝƚĂƐ
WĞƌďĂŶŬĂŶĚŝĂŬŚŝƌŝůĞďŝŚĂǁĂůŽůĞŚĂŶŬ͘
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< ^͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂ^ƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
ϭϵ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚ;&ĂƐŝůŝƚĂƐDŽŶĞLJDĂƌŬĞƚͿEŽ͘ϴϬƚĂŶŐŐĂůϮϳ&ĞďƌƵĂƌŝϮϬϭϳ
ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ ƌƐ͘ 'ƵŶĂǁĂŶ dĞĚũŽ͕ ^͘,͕͘ D͘,Ƶŵ͕͘ EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ͕
ƐĞůĂŶũƵƚŶLJĂ ŵĞŶŐĂůĂŵŝ ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ ĚĚĞŶĚƵŵ WĞƌũĂŶũŝĂŶ
<ĞĚŝƚ ;&ĂƐŝůŝƚĂƐ DŽŶĞLJ DĂƌŬĞƚͿ EŽ͘ ϮϲϲϳͬDDͬͬs///ͬϮϬϮϰ ƚĂŶŐŐĂů
ϯ ^ĞƉƚĞŵďĞƌ ϮϬϮϰ͕ ĚŝďƵĂƚ Ěŝ ďĂǁĂŚ ƚĂŶŐĂŶ ;ƐĞůĂŶũƵƚŶLJĂ ĚŝƐĞďƵƚ “PK Money
Market Permata”Ϳ͘
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬWĞƌŵĂƚĂ͕dďŬ;“Bank Permata”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ WĞƌŵĂƚĂ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ DŽŶĞLJ DĂƌŬĞƚ ŬĞƉĂĚĂ ĞďŝƚƵƌ͕ ƐĞďĞƐĂƌ
ZƉϭϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ;ƐĞƌĂƚƵƐŵŝůŝĂƌZƵƉŝĂŚͿ͕ĚĞŶŐĂŶƐƵŬƵďƵŶŐĂƐĞďĞƐĂƌϱ͕ϰϱй Ͳ
ϳ͕ϬϬйƉĞƌƚĂŚƵŶ;“Fasilitas DŽŶĞLJDĂƌŬĞƚ”Ϳ
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dƵũƵĂŶ &ĂƐŝůůŝƚĂƐWŝŶũĂŵĂŶŝŶŝĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŬĞƉĞƌůƵĂŶŵŽĚĂůŬĞƌũĂĚĂůĂŵ
ƌĂŶŐŬĂ ƉĞŵďŝĂLJĂĂŶ ŬŽŶƐƵŵĞŶ͕ ĚĂŶ ƉĞŵďŝĂLJĂĂŶ ŬŽŶƐƵŵĞŶ ƚĞƌƐĞďƵƚ ŚĂŶLJĂ
ŬŚƵƐƵƐƵŶƚƵŬ͗
;ŝͿ ƉĞŵďŝĂLJĂĂŶŵŽďŝůďĂƌƵŵĂƵƉƵŶďĞŬĂƐ;ƚŝĚĂŬĚĂƉĂƚĚŝŐƵŶĂŬĂŶƵŶƚƵŬŵŽďŝů
ĞdždĂdžŝ͕ŵĞƌŬŚŝŶĂ͕DĂůĂLJƐŝĂ;WƌŽƚŽŶͿĚĂŶ/ŶĚŝĂ;dĂƚĂͿ͘
;ŝŝͿ ƉĞŵďŝĂLJĂĂŶƐĞƉĞĚĂŵŽƚŽƌďĂƌƵƵŶƚƵŬŵĞƌŬ:ĞƉĂŶŐ͘
:ĂƚƵŚdĞŵƉŽ ĞƌĚĂƐĂƌŬĂŶ ƉĞŵďĞƌŝƚĂŚƵĂŶ ƚĞƌƚƵůŝƐ ĞůĞŬƚƌŽŶŝŬ ;ĞŵĂŝůͿ ĚĂƌŝ ĂŶŬ WĞƌŵĂƚĂ͕
&ĂƐŝůŝƚĂƐ DŽŶĞLJDĂƌŬĞƚŝŶŝ ĚŝƉĞƌƉĂŶũĂŶŐ ŽƚŽŵĂƚŝƐ ƐĞůĂŵĂ ϯ ;ƚŝŐĂͿ ďƵůĂŶ ŚŝŶŐŐĂ
ϮϭŐƵƐƚƵƐϮϬϮϱ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵDŽŶĞLJDĂƌŬĞƚWĞƌŵĂƚĂ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ
;ŶĞŐĂƚŝǀĞĐŽǀĞŶĂŶƚƐͿLJĂŶŐĚĂƉĂƚ͗;ĂͿŵĞŶŐŚĂůĂŶŐŝƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶWh
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh
KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶ
ŬĞƉĞŶƚŝŶŐĂŶƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶ
ŬĂƌĞŶĂŶLJĂ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ďĞƌŬĞǁĂũŝďĂŶ ƵŶƚƵŬ ŵĞŵŝŶƚĂ ƉĞƌƐĞƚƵũƵĂŶ ƚĞƌƚƵůŝƐ
ƚĞƌůĞďŝŚ ĚĂŚƵůƵ ŬĞƉĂĚĂ ĂŶŬ WĞƌŵĂƚĂ ƵŶƚƵŬ ŵĞůĂŬƐĂŶĂŬĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
ϮϬ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶWĞŵďĞƌŝĂŶ&ĂƐŝůŝƚĂƐWĞƌďĂŶŬĂŶ;<ĞƚĞŶƚƵĂŶ<ŚƵƐƵƐͿEŽ͘ϱϳƚĂŶŐŐĂů
ϯϬ DĞŝ ϮϬϭϴ ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ ƌƐ͘ 'ƵŶĂǁĂŶ dĞĚũŽ͕ ^͘,͕͘ D͘,Ƶŵ͕͘ EŽƚĂƌŝƐ
Ěŝ :ĂŬĂƌƚĂ͕ƐĞůĂŶũƵƚŶLJĂ ŵĞŶŐĂůĂŵŝ ƉĞƌƵďĂŚĂŶ͕ ƚĞƌĂŬŚŝƌ ďĂƌĚĂƐĂƌŬĂŶ ^ƵƌĂƚ ĂŶŬ
WĞƌŵĂƚĂEŽ͘ϲϬϴͬWͬ>KKͬZͲ:<dͬtͬyͬϮϬϮϮƚĂŶŐŐĂůϲKŬƚŽďĞƌϮϬϮϮ͕WĞƌŝŚĂů͗
^ƵƌĂƚWĞŶĂǁĂƌĂŶ&ĂƐŝůŝƚĂƐWĞƌďĂŶŬĂŶĚŝŬĞůƵĂƌŬĂŶĚĂŶĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚ,ĞĂĚ
ŽƌƉŽƌĂƚĞ'ƌŽƵƉϲWĞƌŵĂƚĂĂŶŬĚĂŶƚĞůĂŚĚŝƐĞƚƵũƵŝŽůĞŚWĞƌƐĞƌŽĂŶĚĞŐĂŶƚƵƌƵƚ
ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ WƌĞƐŝĚĞŶ ŝƌĞŬƚƵƌ WĞƌƐĞƌŽĂŶ ũƵŶĐƚŽ WĞƌƵďĂŚĂŶ ĚĂŶ
WĞŶLJĂƚĂĂŶ<ĞŵďĂůŝ^LJĂƌĂƚĚĂŶ<ĞƚĞŶƚƵĂŶhŵƵŵWĞŵďĞƌŝĂŶ&ĂƐŝůŝƚĂƐWĞƌďĂŶŬĂŶ
EŽ͘Ϯϲϲϱͬ^<hͬDͬs///ͬϮϬϮϰƚĂŶŐŐĂůϯ^ĞƉƚĞŵďĞƌϮϬϮϰ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶ
(selanjutnya disebut “PK Term Loan Permata”).
WĂƌĂWŝŚĂŬ ϭ͘ Perseroan (“Debitur”); dan
Ϯ͘ PT Bank Permata, Tbk (“ĂŶŬWĞƌŵĂƚĂ”).
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲsama disebut “Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ WĞƌŵĂƚĂ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŬĞƉĂĚĂ ĞďŝƚƵƌ͕ ƐĞďĞƐĂƌ
ZƉϮϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ĚƵĂƌĂƚƵƐŵŝůŝĂƌZƵƉŝĂŚͿ͕ĚĞŶŐĂŶƐƵŬƵďƵŶŐĂƐĞďĞƐĂƌϲ͕ϵϬй
ƉĞƌƚĂŚƵŶ͘&ĂƐŝůŝƚĂƐŝŶŝŵĞƌƵƉĂŬĂŶƵŶĐŽŵŵŝƚƚĞĚĨĂĐŝůŝƚLJĚĂŶŵƵůƚŝĐƵƌƌĞŶĐLJ;ZƵƉŝĂŚ
;/ZͿĚĂŶŽůůĂƌŵĞƌŝŬĂ;h^ͿͿ͘
dƵũƵĂŶ &ĂƐŝůůŝƚĂƐWŝŶũĂŵĂŶŝŶŝĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŬĞƉĞƌůƵĂŶŵŽĚĂůŬĞƌũĂĚĂůĂŵ
ƌĂŶŐŬĂ ƉĞŵďŝĂLJĂĂŶ ŬŽŶƐƵŵĞŶ͕ ĚĂŶ ƉĞŵďŝĂLJĂĂŶ ŬŽŶƐƵŵĞŶ ƚĞƌƐĞďƵƚ ŚĂŶLJĂ
ŬŚƵƐƵƐƵŶƚƵŬ͗
;ŝͿ ƉĞŵďŝĂLJĂĂŶŵŽďŝůďĂƌƵŵĂƵƉƵŶďĞŬĂƐ;ƚŝĚĂŬĚĂƉĂƚĚŝŐƵŶĂŬĂŶƵŶƚƵŬŵŽďŝů
ĞdždĂdžŝ͕ŵĞƌŬŚŝŶĂ͕DĂůĂLJƐŝĂ;WƌŽƚŽŶͿĚĂŶ/ŶĚŝĂ;dĂƚĂͿ͘
;ŝŝͿ ƉĞŵďŝĂLJĂĂŶƐĞƉĞĚĂŵŽƚŽƌďĂƌƵƵŶƚƵŬŵĞƌŬ:ĞƉĂŶŐ͘
:ĂƚƵŚdĞŵƉŽ ϭϵKŬƚŽďĞƌϮϬϮϱ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
69
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WĞŵďĂƚĂƐĂŶ ^ĞŚƵďƵŶŐĂŶĚĞŶŐĂŶĂĚĂŶLJĂŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞĐŽǀĞŶĂŶƚͿƉĂĚĂW<
dĞƌŵ >ŽĂŶ WĞƌŵĂƚĂ LJĂŶŐ ďĞƌŬĂŝƚĂŶ ĚĞŶŐĂŶ ƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͕ďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚWĞƌƐĞƌŽĂŶEŽ͘>'>ͬϬϯϯͬ͘/D&/ͬ//ͬϮϱ
ƚĂŶŐŐĂůϮϴ&ĞďƌƵĂƌŝϮϬϮϱLJĂŶŐĚŝŬĞůƵĂƌŬĂŶĚĂŶĚŝƚĂŶĚĂƚĂŶŐĂŶŝWƌĞƐŝĚĞŶŝƌĞŬƚƵƌ
ĚĂŶ ŝƌĞŬƚƵƌ WĞƌƐĞƌŽĂŶ ƐĞƌƚĂ ƚĞůĂŚ ĚŝƐĞƚƵũƵŝ ŽůĞŚ ĂŶŬ WĞƌŵĂƚĂ ĚĞŶŐĂŶ ƚƵƌƵƚ
ĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚŝǀ͘,ĞĂĚŽƌƉŽƌĂƚĞĂŶŬŝŶŐϯĂŶŬWĞƌŵĂƚĂƉĂĚĂƚĂŶŐŐĂů
19 Maret 2025 (“Persetujuan Bank Permata”), Perseroan/Debitur telah
ŵĞŵƉĞƌŽůĞŚƉĞƌƐĞƚƵũƵĂŶ ĚĂƌŝĂŶŬWĞƌŵĂƚĂ ďĞƌƵƉĂƉĞƌƐĞƚƵũƵĂŶĂƚĂƐƚŝŶĚĂŬĂŶ
WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŵĞŶĞƌŝŵĂ ƉŝŶũĂŵĂŶ ƵĂŶŐ ĚĂƌŝ ƉŝŚĂŬ ůĂŝŶ Ěŝ ĂƚĂƐ
ZƉϭϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƐĞƌĂƚƵƐůŝŵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ͘
^ĞůĂŝŶWĞƌƐĞƚƵũƵĂŶĂŶŬWĞƌŵĂƚĂƚĞƌƐĞďƵƚĚŝĂƚĂƐ͕ĚĂůĂŵW<dĞƌŵ>ŽĂŶWĞƌŵĂƚĂ͕
ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ ĐŽǀĞŶĂŶƚƐͿ ůĂŝŶŶLJĂ
LJĂŶŐĚĂƉĂƚ͗;ĂͿŵĞŶŐŚĂůĂŶŐŝƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ
s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/
dĂŚĂƉ/ĚĂŶͬĂƚĂƵ͖;ďͿŵĞŵďĂƚĂƐŝĚĂŶŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂ
ƉĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ /͖ ĚĂŶ ŬĂƌĞŶĂŶLJĂ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ
ďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵŬĞƉĂĚĂĂŶŬ
WĞƌŵĂƚĂƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŝŶŝ ĂĚĂůĂŚ
;KƵƚƐƚĂŶĚŝŶŐͿ ƐĞďĞƐĂƌZƉϱϮ͘Ϭϴϯ͘ϯϯϯ͘ϯϰϲ
Ϯϭ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚEŽ͘ϯϳƚĂŶŐŐĂůϮϵŐƵƐƚƵƐϮϬϮϰĚŝďƵĂƚĚŝŚĂĚĂƉĂŶtĂŶŝ͕
^͘,͕͘D͘<Ŷ͕͘EŽƚĂƌŝƐĚŝJakarta (“PK Hibank”).
WĂƌĂWŝŚĂŬ ϭ͘ Perseroan (“Debitur”); dan
Ϯ͘ PT Bank Hibank Indonesia (“Hibank”);
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲsama disebut “Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ,ŝďĂŶŬ ŵĞŵďĞƌŝŬĂŶ &ĂƐŝůŝƚĂƐ ĞƌũĂŶŐŬĂ ;WͿ ŬĞƉĂĚĂ ĞďŝƚƵƌ͕ ƐĞďĞƐĂƌ
ZƉϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ĚƵĂ ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ͕ ĚĞŶŐĂŶ ƐƵŬƵ ďƵŶŐĂ ƐĞďĞƐĂƌ
ϲ͕ϮϱйͲϲ͕ϱϬйƉĞƌƚĂŚƵŶ͘&ĂƐŝůŝƚĂƐŝŶŝďĞƌƐŝĨĂƚƌĞǀŽůǀŝŶŐĚĂŶƵŶĐŽŵŵŝƚƚĞĚ͘
dƵũƵĂŶ &ĂƐŝůůŝƚĂƐŝŶŝĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂ
:ĂƚƵŚdĞŵƉŽ ϮϵŐƵƐƚƵƐϮϬϮϱ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< ,ŝďĂŶŬ͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂ,/ďĂŶŬƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŝŶŝ ĂĚĂůĂŚ
;KƵƚƐƚĂŶĚŝŶŐͿ ƐĞďĞƐĂƌZƉϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
ϮϮ͘ EĂŵĂWĞƌũĂŶũŝĂŶ WĞƌũĂŶũŝĂŶ&ĂƐŝůŝƚĂƐEŽ͘ϲϴͬ&ͬEͬE tͬy/ͬϮϬϭϳƚĂŶŐŐĂůϯϬEŽǀĞŵďĞƌϮϬϭϳLJĂŶŐ
ƚĞůĂŚĚŝůĞŐĂůŝƐĂƐŝŽůĞŚ,ĞƌůŝŶĂdŽďŝŶŐDĂŶƵůůĂŶŐ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͕ĚĞŶŐĂŶ
EŽ͘ >ĞŐĂůŝƐĂƐŝ͗ ϳϱϮͬ>ĞŐͬϮϬϭϳͬZĂŶŐŬĂƉ Ϯ ƚĂŶŐŐĂů ϯϬ EŽǀĞŵďĞƌ ϮϬϭϳ͕ ũƵŶĐƚŽ
WĞƌƵďĂŚĂŶ <ĞĚƵĂ ƚĂƐ WĞƌƵďĂŚĂŶ ĚĂŶ WĞƌŶLJĂƚĂĂŶ <ĞŵďĂůŝ ƚĂƐ WĞƌũĂŶũŝĂŶ
&ĂƐŝůŝƚĂƐEŽ͘ϵϬϴͬ&ͬEͬDͬs/ͬϮϬϮϮƚĂŶŐŐĂůϮϯŐƵƐƚƵƐϮϬϮϮ͕ĚŝďƵĂƚĚŝďĂǁĂŚ
ƚĂŶŐĂŶ͕ƐĞůĂŶũƵƚŶLJĂŵĞŶŐĂůĂŵŝƉĞƌƵďĂŚĂŶ͕ƚĞƌĂŬŚŝƌďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚEEŽ͘
Ϭϱϰͬ&ͬEͬDͬ/sͬϮϬϮϱ ƚĂŶŐŐĂů Ϯ DĞŝ ϮϬϮϱ͕ WĞƌŝŚĂů͗ ^ƵƌĂƚ WĞƌƉĂŶũĂŶŐĂŶ
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
&ĂƐŝůŝƚĂƐLJĂŶŐĚŝŬĞůƵĂƌŬĂŶĚĂŶĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚ ,ĞĂĚŽĨ&ŝŶĂŶĐŝĂů/ŶƐƚŝƚƵƚŝŽŶ
'ƌŽƵƉE;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ“PK ANZ”Ϳ͘
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Peminjam”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬE/ŶĚŽŶĞƐŝĂ;“ANZ/Bank”Ϳ
WĞŵŝŶũĂŵĚĂŶE͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲsama disebut “Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ ƉŝŶũĂŵĂŶͬŬƌĞĚŝƚ ŬĞƉĂĚĂ WĞŵŝŶũĂŵ ƐĞďĞƐĂƌ
h^ϭϱ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ůŝŵĂ ĞůĂƐ :ƵƚĂ ŽůůĂƌ ŵĞƌŝŬĂ ^ĞƌŝŬĂƚͿ͘ &ĂƐŝůŝƚĂƐ ŝŶŝ ƚĞƌƐĞĚŝĂ
ĚĂůĂŵDĂƚĂhĂŶŐZƵƉŝĂŚ;/ZͿΘŽůůĂƌŵĞƌŝŬĂ^ĞƌŝŬĂƚ;h^Ϳ͘
^ƵŬƵƵŶŐĂ ^ƵŬƵďƵŶŐĂƉĂƐĂƌLJĂŶŐďĞƌůĂŬƵLJĂŶŐĂŬĂŶĚŝƚĞŶƚƵŬĂŶŽůĞŚEƐĞůĂŵďĂƚŶLJĂϮŚĂƌŝ
ŬĞƌũĂƐĞďĞůƵŵƉĞŶĂƌŝŬĂŶ
dƵũƵĂŶ &ĂƐŝůŝƚĂƐŝŶŝĚŝŐƵŶĂŬĂŶŽůĞŚWĞŵŝŶũĂŵƵŶƚƵŬŵŽĚĂůŬĞƌũĂĚĂŶƉĞŵďŝĂLJĂĂŶƵŵƵŵ
ƉĞƌƵƐĂŚĂĂŶ
:ĂƚƵŚdĞŵƉŽ ϯϬƉƌŝůϮϬϮϲ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< E͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂEƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
Ϯϯ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚEŽ͘ϬϰƚĂŶŐŐĂůϭϭŐƵƐƚƵƐϮϬϮϬLJĂŶŐ ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ
DĂŚŵƵĚ^ĂŝĚ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͕ƐĞůĂŶũƵƚŶLJĂŵĞŶŐĂůĂŵŝƉĞƌƵďĂŚĂŶƚĞƌĂŬŚŝƌ
ďĞƌĚĂƐĂƌŬĂŶ ĚĚĞŶĚƵŵ WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ EŽ͘ ϯϰϵͬ/WͲZͬ<D<ͲWͬs///ͬϮϬϮϰ
ƚĂŶŐŐĂůϮŐƵƐƚƵƐϮϬϮϰ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶ;“PK Bank INA”Ϳ͘
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ ĂŶŬ/E;“Bank”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ DŽĚĂů <ĞƌũĂ Ͳ ĞŵĂŶĚ >ŽĂŶ LJĂŶŐ ďĞƌƐŝĨĂƚ
ƵŶĐŽŵŵŝƚĞĚ ĚĞŶŐĂŶ ũƵŵůĂŚ ƉŽŬŽŬ ƚŝĚĂŬ ŵĞůĞďŝŚŝ ƐĞďĞƐĂƌ ZƉϮϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ
;ĚƵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ;“Fasilitas
Pinjaman”Ϳ͘
^ƵŬƵƵŶŐĂ dŝŶŐŬĂƚƐƵŬƵďƵŶŐĂƵŶƚƵŬƐĞƚŝĂƉƚĂŚƵŶŶLJĂLJĂŶŐĚŝƚĞŶƚƵŬĂŶŽůĞŚďĂŐŝĂŶdƌĞĂƐƵƌLJ
ĂŶŬ ďĞƌĚĂƐĂƌŬĂŶ “Money Market Rate dan Market Condition” ƉĂĚĂ ǁĂŬƚƵ
ƉĞŶĂƌŝŬĂŶĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶƚŝŶŐŬĂƚďƵŶŐĂƚĞƌƐĞďƵƚŚĂƌƵƐĚŝĂƚĂƐďƵŶŐĂũĂƐĂŐŝƌŽ
ĚĂŶĚĂƉĂƚďĞƌƵďĂŚͬĚŝƚŝŶũĂƵƐĞƚŝĂƉƐĂĂƚŽůĞŚĂŶŬ;ĨůŽĂƚŝŶŐƌĂƚĞͿ͘
dƵũƵĂŶ &ĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬDŽĚĂů<ĞƌũĂ͘
:ĂƚƵŚdĞŵƉŽ ϭϭŐƵƐƚƵƐϮϬϮϱ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<ĂŶŬ/E͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬ/EƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
Ϯϰ͘ EĂŵĂWĞƌũĂŶũŝĂŶ WĞƌũĂŶũŝĂŶ<ƌĞĚŝƚEŽ͘ϬϭϬϬͬϬϭϱƚĂŶŐŐĂůϮϱDĂƌĞƚϮϬϮϭ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶ͕
ƐĞůĂŶũƵƚŶLJĂ ŵĞŶŐĂůĂŵŝ ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ ĚĚĞŶĚƵŵ s ;<ĞůŝŵĂͿ
WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ EŽ͘ ϬϭϬϬͬϬϱϵͬͬϭϴϭϬϮϬϮϰ ƚĂŶŐŐĂů ϭϴ KŬƚŽďĞƌ ϮϬϮϰ͕ ĚŝďƵĂƚ
ĚŝďĂǁĂŚƚĂŶŐĂŶ;ƐĞůĂŶũƵƚŶLJĂĚisebut “W<ĂŶŬ:ĂŐŽ”).
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬ:ĂŐŽdďŬ;“Bank”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŵŽĚĂů ŬĞƌũĂ ŬĞƉĂĚĂ ĞďŝƚƵƌ͕ ƐĞďĞƐĂƌ
ZƉϯϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƚŝŐĂƌĂƚƵƐŵŝůŝĂƌZƵƉŝĂŚͿ
^ƵŬƵƵŶŐĂ ϱ͕ϵϱйͲϲ͕ϳϬйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ &ĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂ
:ĂƚƵŚdĞŵƉŽ ϭϴKŬƚŽďĞƌϮϬϮϱ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<ĂŶŬ:ĂŐŽ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬ:ĂŐŽƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
Ϯϱ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂ WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ EŽ͘ ϯϱ ƚĂŶŐŐĂů ϭϱ :ƵŶŝ ϮϬϮϯ͕ ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ ^ŝŶĚŝĂŶ
KƐĂƉƵƚƌĂ͕ ^͘,͕͘ D͘<Ŷ͕͘ EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌĂŬŚŝƌ ĚŝƵďĂŚ
ďĞƌĚĂƐĂƌŬĂŶŬƚĂĚĚĞŶĚƵŵ/WĞƌũĂŶũŝĂŶ<ƌĞĚŝƚEŽ͘ϴϭƚĂŶŐŐĂůϭϴKŬƚŽďĞƌϮϬϮϯ͕
ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ^ŝŶĚŝĂŶKƐĂƉƵƚƌĂ͕^͘,͕͘D͘<Ŷ͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂũƵŶĐƚŽ^ƵƌĂƚ
&ĂƐŝůŝƚĂƐ ĂŶŬ :ĂŐŽ EŽ͘ ^͘ϮϬϮϰ͘Ϭϴϭͬ^<ͬs//Ͳ> '>ͬ:'K ƚĂŶŐŐĂů ϭϵ :Ƶůŝ ϮϬϮϰ͕
WĞƌŝŚĂů͗WĞƌƐĞƚƵũƵĂŶWĞŶĂŵďĂŚĂŶ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚWŝŶũĂŵĂŶŶŐƐƵƌĂŶĞƌũĂŶŐŬĂ
;WͿ LJĂŶŐ ĚŝŬĞůƵĂƌŬĂŶ ĚĂŶ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ ,ĞĂĚ ŽĨ WĂƌƚŶĞƌƐŚŝƉ >ĞŶĚŝŶŐ
ƵƐŝŶĞƐƐ ĚĂŶ ƚĞůĂŚ ĚŝƐĞƚƵũƵŝ ŽůĞŚ WĞƌƐĞƌŽĂŶ ĚĞŶŐĂŶ ƚƵƌƵƚ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ
Presiden Direktur Perseroan (selanjutnya disebut “W<ĂŶŬ:ĂŐŽϮ”)
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬ:ĂŐŽdďŬ;“Bank”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ ŶŐƐƵƌĂŶ ĞƌũĂŶŐŬĂ ;W >ŝŶĞͿ ŬĞƉĂĚĂ
ĞďŝƚƵƌ͕ ƐĞďĞƐĂƌ ZƉϭ͘ϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƐĂƚƵ ƚƌŝůŝƵŶ ĚƵĂ ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ͘
&ĂƐŝůŝƚĂƐŝŶŝďĞƌƐŝĨĂƚĐŽŵŵŝƚƚĞĚĚĂŶƌĞǀŽůǀŝŶŐ͘
^ƵŬƵƵŶŐĂ ϳ͕ϬϬйͲϳ͕ϮϱйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ &ĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂ
:ĂƚƵŚdĞŵƉŽ ϭϵ:ƵůŝϮϬϯϬ
72
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PT INDOMOBIL FINANCE INDONESIA
EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<ĂŶŬ:ĂŐŽϮ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬ:ĂŐŽƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŝŶŝ ĂĚĂůĂŚ
;KƵƚƐƚĂŶĚŝŶŐͿ ƐĞďĞƐĂƌZƉϭ͘Ϭϵϲ͘ϴϯϯ͘ϯϯϯ͘ϯϯϰ
Ϯϲ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ^ƵƌĂƚ :W DŽƌŐĂŶ EŽ͘ ϬϯϳͬWͬE tͬ///ͬϮϬϮϬ ƚĂŶŐŐĂů ϭϲ DĂƌĞƚ ϮϬϮϬ͕ WĞƌŝŚĂů͗
&ĂƐŝůŝƚĂƐͲ&ĂƐŝůŝƚĂƐ WĞƌďĂŶŬĂŶ dĂŶƉĂ <ŽŵŝƚŵĞŶ ĚŝŬĞůƵĂƌŬĂŶ ĚĂŶ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ
ŽůĞŚ džĞĐƵƚŝǀĞŝƌĞĐƚŽƌΘ^ĞŶŝŽƌŽƵŶƚƌLJƵƐŝŶĞƐƐDĂŶĂŐĞƌ:WDŽƌŐĂŶĚĂŶƚĞůĂŚ
ĚŝƐĞƚƵũƵŝ ŽůĞŚ WĞƌƐĞƌŽĂŶ ĚĞŶŐĂŶ ƚƵƌƵƚ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ ŝƌĞŬƚƵƌ WĞƌƐĞƌŽĂŶ͕
ƐĞůĂŶũƵƚŶLJĂ ŵĞŶŐĂůĂŵŝ ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ ^ƵƌĂƚ :W DŽƌŐĂŶ
EŽ͘ ϬϬϮͬWͬ&ͬDͲϱͬ//ͬϮϬϮϱ ƚĂŶŐŐĂů ϭϳ &ĞďƌƵĂƌŝ ϮϬϮϱ͕ WĞƌŝŚĂů͗ &ĂƐŝůŝƚĂƐͲ
&ĂƐŝůŝƚĂƐWĞƌďĂŶŬĂŶ dĂŶƉĂ<ŽŵŝƚŵĞŶ ĚŝŬĞůƵĂƌŬĂŶĚĂŶĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚ sŝĐĞ
WƌĞƐŝĚĞŶƚ 'ůŽďĂů ŽƌƉŽƌĂƚĞ ĂŶŬŝŶŐ ĚĂŶ džĞĐƵƚŝǀĞ ŝƌĞĐƚŽƌ 'ůŽďĂů ŽƌƉŽƌĂƚĞ
ĂŶŬŝŶŐ :W DŽƌŐĂŶ ĚĂŶ ƚĞůĂŚ ĚŝƐĞƚƵũƵŝ ŽůĞŚ WĞƌƐĞƌŽĂŶ ĚĞŶŐĂŶ ƚƵƌƵƚ
ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ WƌĞƐŝĚĞŶ ŝƌĞŬƚƵƌ WĞƌƐĞƌŽĂŶ ;ƐĞůĂŶũƵƚŶLJĂ ĚŝƐĞďƵƚ “PK JP
Morgan”Ϳ͘
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ :WDŽƌŐĂŶŚĂƐĞĂŶŬ͕E͕͘͘ĂďĂŶŐ:ĂŬĂƌƚĂ;“Bank”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ ŶŐƐƵƌĂŶ ĞƌũĂŶŐŬĂ ;W >ŝŶĞͿ͕ ďĞƌƐŝĨĂƚ
ĐŽŵŵŝƚƚĞĚ ŬĞƉĂĚĂ ĞďŝƚƵƌ͕ ƐĞďĞƐĂƌ ZƉϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ĚƵĂ ƌĂƚƵƐ ŵŝůŝĂƌ
ZƵƉŝĂŚͿ͘
^ƵŬƵƵŶŐĂ ϳ͕ϬϬйͲϳ͕ϲϰйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ &ĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂ
:ĂŶŐŬĂǁĂŬƚƵ ϭϴDĂƌĞƚϮϬϮϲ͘
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<:WDŽƌŐĂŶ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂ:WDŽƌŐĂŶƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
Ϯϳ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂ WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ EŽ͘ ϵϮ ƚĂŶŐŐĂů Ϯϴ :ƵŶŝ ϮϬϮϮ͕ ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ
Sulistyaningsih, S.H., Notaris di Jakarta (“PK Bank Oke”).
WĂƌĂWŝŚĂŬ ϭ͘ Perseroan (“Debitur”); dan
Ϯ͘ PT Bank Oke Indonesia Tbk (“Bank”)
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲsama disebut “Para Pihak”.
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŵŽĚĂů ŬĞƌũĂ ;EŽŶ ZĞǀŽůǀŝŶŐͿ ŬĞƉĂĚĂ ĞďŝƚƵƌ͕
ƐĞďĞƐĂƌ ZƉϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ĚƵĂ ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ͕ ĚĞŶŐĂŶ ƐƵŬƵ ďƵŶŐĂ
ƐĞďĞƐĂƌϲ͕ϱϬйƉĞƌƚĂŚƵŶ͘
dƵũƵĂŶ &ĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂ
:ĂƚƵŚdĞŵƉŽ ϮϮ:ƵůŝϮϬϮϱ
:ĂŵŝŶĂŶ hŶƚƵŬ ŵĞŶũĂŵŝŶ ƚĞƌďĂLJĂƌŶLJĂ ĚĞŶŐĂŶ ďĂŝŬ ĚĂŶ ĚĞŶŐĂŶ ĐĂƌĂ ƐĞďĂŐĂŝŵĂŶĂ
ŵĞƐƚŝŶLJĂ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ LJĂŶŐ ƚĞůĂŚ ĚŝďĞƌŝŬĂŶ ŽůĞŚ ĂŶŬ ŬĞƉĂĚĂ ĞďŝƚƵƌ͕
ďĞƌĚĂƐĂƌŬĂŶŬƚĂ:ĂŵŝŶĂŶ&ŝĚƵƐŝĂEŽ͘ϵϯƚĂŶŐŐĂůϮϴ:ƵŶŝϮϬϮϮ͕ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ
^ƵůŝƐƚLJĂŶŝŶŐƐŝŚ͕ ^͘,͕͘ EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ͕ ĞďŝƚƵƌ ŵĞŵďĞƌŝŬĂŶ ũĂŵŝŶĂŶ ŬĞƉĂĚĂ
ĂŶŬ͕ďĞƌƵƉĂƐĞŵƵĂĚĂŶƐĞƚŝĂƉŚĂŬ͕ǁĞǁĞŶĂŶŐ͕ƚĂŐŝŚĂŶĂƚĂƵƉŝƵƚĂŶŐƐĞƌƚĂŬůĂŝŵ
LJĂŶŐƐĞŬĂƌĂŶŐƚĞůĂŚĚĂŶͬĂƚĂƵĚŝŬĞŵƵĚŝĂŶŚĂƌŝĂŬĂŶĚŝŵŝůŝŬŝ͕ĚŝƉĞƌŽůĞŚĚĂŶĚĂƉĂƚ
ĚŝũĂůĂŶŬĂŶ ŽůĞŚ ĞďŝƚƵƌͬWĞŵďĞƌŝ &ŝĚƵƐŝĂ ƚĞƌŚĂĚĂƉ ƉŝŚĂŬ ŬĞƚŝŐĂ ŵĂŶĂƉƵŶ ũƵŐĂ
ĚĞŶŐĂŶŶŝůĂŝƉĞŶũĂŵŝŶĂŶϱϬй;ůŝŵĂƉƵůƵŚƉĞƌƐĞŶͿĚĂƌŝďĂŬŝĚĞďĞƚ&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ
ŝŶŝĂƚĂƵƐĞďĞƐĂƌZƉϭϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƐĞƌĂƚƵƐůŝŵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ͘
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<ĂŶŬKŬĞ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬKŬĞƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŝŶŝ ĂĚĂůĂŚ ƐĞďĞƐĂƌ
;KƵƚƐƚĂŶĚŝŶŐͿ ZƉϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
Ϯϴ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂ WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ EŽ͘ ϭϱϮ ƚĂŶŐŐĂů Ϯϳ :ƵŶŝ ϮϬϮϯ͕ ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ ƐƚĞƌ
^ĞƉƚĂƌŝŶŝ͕^͘,͕͘D͘<Ŷ͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ“PK Bank Oke 2”Ϳ
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬKŬĞ/ŶĚŽŶĞƐŝĂdďŬ;“Bank”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŵŽĚĂů ŬĞƌũĂ ;EŽŶ ZĞǀŽůǀŝŶŐͿ ŬĞƉĂĚĂ ĞďŝƚƵƌ͕
ƐĞďĞƐĂƌ ZƉϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ĚƵĂ ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ͕ ĚĞŶŐĂŶ ƐƵŬƵ ďƵŶŐĂ
ƐĞďĞƐĂƌϳ͕ϯϬйƉĞƌƚĂŚƵŶ͘
dƵũƵĂŶ &ĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶŝŶŝĂŬĂŶĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵŽĚĂůŬĞƌũĂ
:ĂƚƵŚdĞŵƉŽ Ϯϳ:ƵŶŝϮϬϮϲ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<ĂŶŬKŬĞϮ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬKŬĞƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŝŶŝ ĂĚĂůĂŚ ƐĞďĞƐĂƌ
;KƵƚƐƚĂŶĚŝŶŐͿ ZƉϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
74
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
ϯϬ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚDŽĚĂů<ĞƌũĂ<ƌĞĚŝƚ džĞĐƵƚŝŶŐDƵůƚŝĨŝŶĂŶĐĞ;< DͿEŽ͘ϰϳ
ƚĂŶŐŐĂůϮϴDĂƌĞƚϮϬϮϮ͕ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶsĞƌŽŶŝĐĂEĂƚĂĂĚŵĂũĚĂ͕^͘,͕͘DŽƌƉ
ĚŵŝŶ͕͘D͘Žŵ;ƵƐŝŶĞƐƐ>ĂǁͿ., Notaris di Jakarta (“PK J Trust”).
WĂƌĂWŝŚĂŬ ϭ͘ Perseroan (“Debitur”); dan
Ϯ͘ WdĂŶŬ:dƌƵƐƚ/ŶĚŽŶĞƐŝĂdďŬ(“Bank”);
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲsama disebut “Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬ ŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ ŵŽĚĂů ŬĞƌũĂ ŬĞƉĂĚĂ ĞďŝƚƵƌ͕ ƐĞďĞƐĂƌ
ZƉϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ĚƵĂƌĂƚƵƐŵŝůŝĂƌZƵƉŝĂŚͿ͘&ĂƐŝŝƚĂƐŝŶŝďĞƌƐŝĨĂƚŶŽŶƌĞǀŽůǀŝŶŐ͕
ƵŶĐŽŵŵŝƚƚĞĚĚĂŶĂĚǀŝƐĞĚ͘
^ƵŬƵƵŶŐĂ ϲ͕ϳϱйƉĞƌƚĂŚƵŶ
dƵũƵĂŶ hŶƚƵŬŵŽĚĂůŬĞƌũĂƉĞŵďŝĂLJĂĂŶŬĞŶĚĂƌĂĂŶƌŽĚĂĞŵƉĂƚĚĂŶƌŽĚĂĚƵĂ͕ŬŽŶĚŝƐŝďĂƌƵ
ĂƚĂƵďĞŬĂƐ͕ĂůĂƚďĞƌĂƚ͕ƉƌŽƉĞƌƚLJ͕ŵƵůƚŝŐƵŶĂĚĂŶƵƐĂŚĂƉƌŽĚƵŬƚŝĨLJĂŶŐĚŝũĂůĂŶŬĂŶ
ĞďŝƚƵƌ
:ĂƚƵŚdĞŵƉŽ ϮϱDĞŝϮϬϮϲ
:ĂŵŝŶĂŶ hŶƚƵŬ ŵĞŶũĂŵŝŶ ƚĞƌďĂLJĂƌŶLJĂ ĚĞŶŐĂŶ ďĂŝŬ ĚĂŶ ĚĞŶŐĂŶ ĐĂƌĂ ƐĞďĂŐĂŝŵĂŶĂ
ŵĞƐƚŝŶLJĂ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŬƌĞĚŝƚ LJĂŶŐ ƚĞůĂŚ ĚŝďĞƌŝŬĂŶ ŽůĞŚ ĂŶŬ ŬĞƉĂĚĂ ĞďŝƚƵƌ͕
ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ :ĂŵŝŶĂŶ &ŝĚƵƐŝĂ EŽ͘ ϰϴ ƚĂŶŐŐĂů Ϯϴ DĂƌĞƚ ϮϬϮϮ͕ ĚŝďƵĂƚ
ĚŝŚĂĚĂƉĂŶsĞƌŽŶŝĐĂEĂƚĂĂĚŵĂũĚĂ͕^͘,͕͘DŽƌƉĚŵŝŶ͕͘D͘Žŵ;ƵƐŝŶĞƐƐ>ĂǁͿ͕͘
EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ͕ ĞďŝƚƵƌ ŵĞŵďĞƌŝŬĂŶ ũĂŵŝŶĂŶ ŬĞƉĂĚĂ ĂŶŬ͕ ďĞƌƵƉĂ ƉŝƵƚĂŶŐ
ƵƐĂŚĂƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶĚĞŶŐĂŶŶŝůĂŝƉĞŶũĂŵŝŶĂŶϱϬй;ůŝŵĂƉƵůƵŚƉĞƌƐĞŶͿ
ĚĂƌŝ ũƵŵůĂŚ ŽƵƚƐƚĂŶĚŝŶŐ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ ŝŶŝ ĂƚĂƵ ŵĂŬƐŝŵĂů ƐĞďĞƐĂƌ
ZƉϭϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƐĞƌĂƚƵƐůŝŵĂƉƵůƵŚŵŝůŝĂƌͿ͘
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<W<:dƌƵƐƚ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂ:dƌƵƐƚƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŝŶŝ ĂĚĂůĂŚ ƐĞďĞƐĂƌ
;KƵƚƐƚĂŶĚŝŶŐͿ ZƉϳϳ͘Ϭϲϯ͘ϳϱϱ͘ϬϭϬ
ϯϭ͘ EĂŵĂWĞƌũĂŶũŝĂŶ WĞƌũĂŶũŝĂŶ &ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ ĞƌũĂŶŐŬĂ ĞŶŐĂŶ EŝůĂŝ WŽŬŽŬ ^ĂŵƉĂŝ ĞŶŐĂŶ
h^ΨϯϮϳ͕ϬϬϬ͕ϬϬϬƚĂŶŐŐĂůϮϮ:ƵůŝϮϬϮϮ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶ;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ
“Perjanjian Kredit Sindikasi 2022”).
WĂƌĂWŝŚĂŬ ϭ͘Perseroan (“Penerima Pinjaman”);
Ϯ͘ Wd ĂŶŬ ^D /ŶĚŽŶĞƐŝĂ dďŬ͖ Wd ĂŶŬ /D EŝĂŐĂ dďŬ͖ Wd ĂŶŬ <
ƵŬŽƉŝŶ͕dďŬ͖ dŚĞ <ŽƌĞĂ ĞǀĞůŽƉŵĞŶƚ ĂŶŬ͕ ĂďĂŶŐ ^ŝŶŐĂƉƵƌĂ͖ Wd ĂŶŬ
DĂŶĚŝƌŝ ;WĞƌƐĞƌŽͿ dďŬ͖ DŝnjƵŚŽ ĂŶŬ͘ >ƚĚ͖ Wd ĂŶŬ DŝnjƵŚŽ /ŶĚŽŶĞƐŝĂ͖
KǀĞƌƐĞĂͲŚŝŶĞƐĞĂŶŬŝŶŐŽƌƉŽƌĂƚŝŽŶ>ŝŵŝƚĞĚ͖Z,ĂŶŬĞƌŚĂĚ͖ĂŶŬŽĨ
ŚŝŶĂ;,ŽŶŐ<ŽŶŐͿ>ŝŵŝƚĞĚ͖^ĂŶŬ>ƚĚĚĂŶ^ƵŵŝƚŽŵŽDŝƚƐƵŝĂŶŬŝŶŐ
Corporation, Cabang Singapura (“Para Penerima Mandat Pengatur Utama
dan Pengelolaan Pembukuan ”);
ϯ͘ ƵƐƚƌĂůŝĂĂŶĚEĞǁĞĂůĂŶĚĂŶŬŝŶŐ'ƌŽƵƉ>ŝŵŝƚĞĚĚĂŶ^ƵŵŝƚŽŵŽDŝƚƐƵŝ
dƌƵƐƚĂŶŬ͕>ŝŵŝƚĞĚ͕ĂďĂŶŐ^ŝŶŐĂƉƵra (“Para Penerima Mandat Pengatur
Utama”);
ϰ͘ PT Bank KEB Hana Indonesia (“Pengatur Utama”)
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ϱ͘ KǀĞƌƐĞĂͲŚŝŶĞƐĞĂŶŬŝŶŐŽƌƉŽƌĂƚŝŽŶ>ŝŵŝƚĞĚ͖Z,ĂŶŬĞƌŚĂĚ͖ĂŶŬŽĨ
ŚŝŶĂ ;,ŽŶŐ <ŽŶŐͿ >ŝŵŝƚĞĚ͖ ^ ĂŶŬ >ƚĚ͖ ƵƐƚƌĂůŝĂ ŶĚ EĞǁ ĞĂůĂŶĚ
ĂŶŬŝŶŐ'ƌŽƵƉ>ŝŵŝƚĞĚ͕ĂďĂŶŐ^ŝŶŐĂƉƵƌĂ͖^ƵŵŝƚŽŵŽDŝƚƐƵŝdƌƵƐƚĂŶŬ͕
>ŝŵŝƚĞĚ͕ĂďĂŶŐ^ŝŶŐĂƉƵƌĂ͖WdĂŶŬ^D/ŶĚŽŶĞƐŝĂ͖WdĂŶŬ/DEŝĂŐĂ
dďŬ͖ Wd ĂŶŬ < ƵŬŽƉŝŶ͕dďŬ͖ Wd ĂŶŬ DĂŶĚŝƌŝ ;WĞƌƐĞƌŽͿ dďŬ͖ Wd ĂŶŬ
DŝnjƵŚŽ/ŶĚŽŶĞƐŝĂ͖dŚĞ<ŽƌĞĂĞǀĞůŽƉŵĞŶƚĂŶŬ͕ĂďĂŶŐ^ŝŶŐĂƉƵƌĂ͖ĂŶŬ
ŽĨŚŝŶĂ;,ŽŶŐ<ŽŶŐͿ>ŝŵŝƚĞĚĂďĂŶŐ:ĂŬĂƌƚĂ͖WdĂŶŬ< ,ĂŶĂ/ŶĚŽŶĞƐŝĂ
(“Para Pemberi Pinjaman”);
ϲ͘ PT Bank SMBC Indonesia Tbk (“Agen/Bank Rekening”);
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲsama disebut “Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚ^ŝŶĚŝŬĂƐŝϮϬϮϮŝŶŝ͕&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚŝŶŝĚŝďĞƌŝŬĂŶŽůĞŚ
WĂƌĂ WĞŵďĞƌŝ WŝŶũĂŵĂŶ ŬĞƉĂĚĂ WĞŶĞƌŝŵĂ WŝŶũĂŵĂŶ ƐĞůƵƌƵŚŶLJĂ ƐĞďĞƐĂƌ
h^ΨϯϮϳ͕ϬϬϬ͕ϬϬϬ;ƚŝŐĂƌĂƚƵƐĚƵĂƉƵůƵŚƚƵũƵŚũƵƚĂŽůůĂƌŵĞƌŝŬĂ^ĞƌŝŬĂƚͿ͕ƐĞďĂŐĂŝ
ďĞƌŝŬƵƚ͗
&ĂƐŝůŝƚĂƐdĂŚĂƉ͗
EŽ͘ WĞŵďĞƌŝWŝŶũĂŵĂŶ <ŽŵŝƚŵĞŶ;h^ΨͿ
ϭ͘ KǀĞƌƐĞĂͲŚŝŶĞƐĞĂŶŬŝŶŐŽƌƉŽƌĂƚŝŽŶ>ŝŵŝƚĞĚ ϯϬ͕ϬϬϬ͕ϬϬϬ
Ϯ͘ Z,ĂŶŬĞƌŚĂĚ ϯϬ͕ϬϬϬ͕ϬϬϬ
ϯ͘ ĂŶŬŽĨŚŝŶĂ;,ŽŶŐ<ŽŶŐͿ>ŝŵŝƚĞĚ ϭϮ͕ϱϬϬ͕ϬϬϬ
ϰ͘ ^ĂŶŬ>ƚĚ Ϯϱ͕ϬϬϬ͕ϬϬϬ
ϱ͘
ƵƐƚƌĂůŝĂ ŶĚ EĞǁ ĞĂůĂŶĚ ĂŶŬŝŶŐ 'ƌŽƵƉ ϭϱ͕ϬϬϬ͕ϬϬϬ
>ŝŵŝƚĞĚ͕ĂďĂŶŐ^ŝŶŐĂƉƵƌĂ
ϲ͘ ^ƵŵŝƚŽŵŽDŝƚƐƵŝdƌƵƐƚĂŶŬ͕>ŝŵŝƚĞĚ͕ĂďĂŶŐ ϭϱ͕ϬϬϬ͕ϬϬϬ
^ŝŶŐĂƉƵƌĂ
dŽƚĂů ϭϮϳ͕ϱϬϬ͕ϬϬϬ
&ĂƐŝůŝƚĂƐdĂŚĂƉ͗
EŽ͘ WĞŵďĞƌŝWŝŶũĂŵĂŶ <ŽŵŝƚŵĞŶ;h^ΨͿ
ϭ͘ WdĂŶŬ^D/ŶĚŽŶĞƐŝĂdďŬ ϯϬ͕ϬϬϬ͕ϬϬϬ
Ϯ͘ WdĂŶŬ/DEŝĂŐĂdďŬ ϯϬ͕ϬϬϬ͕ϬϬϬ
ϯ͘ WdĂŶŬ<ƵŬŽƉŝŶ͕dďŬ ϯϬ͕ϬϬϬ͕ϬϬϬ
ϰ͘ WdĂŶŬDĂŶĚŝƌŝ;WĞƌƐĞƌŽͿdďŬ ϯϬ͕ϬϬϬ͕ϬϬϬ
ϱ͘ WdĂŶŬDŝnjƵŚŽ/ŶĚŽŶĞƐŝĂ ϯϬ͕ϬϬϬ͕ϬϬϬ
ϲ͘ dŚĞ <ŽƌĞĂ ĞǀĞůŽƉŵĞŶƚ ĂŶŬ͕ ĂďĂŶŐ ϯϬ͕ϬϬϬ͕ϬϬϬ
^ŝŶŐĂƉƵƌĂ
ϳ͘ ĂŶŬ ŽĨ ŚŝŶĂ ;,ŽŶŐ <ŽŶŐͿ >ŝŵŝƚĞĚ ĂďĂŶŐ ϭϮ͕ϱϬϬ͕ϬϬϬ
:ĂŬĂƌƚĂ
ϴ͘ WdĂŶŬ< ,ĂŶĂ/ŶĚŽŶĞƐŝĂ ϳ͕ϬϬϬ͕ϬϬϬ
dŽƚĂů ϭϵϵ͕ϱϬϬ͕ϬϬϬ
(selanjutnya disebut “Fasilitas Kredit”).
dƵũƵĂŶ WĞŶĞƌŝŵĂ WŝŶũĂŵĂŶ ŚĂƌƵƐ ŵĞŶŐŐƵŶĂŬĂŶ ƐĞůƵƌƵŚ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ ŝŶŝ ƵŶƚƵŬ
ƉĞŵďŝĂLJĂĂŶƚƵũƵĂŶͲƚƵũƵĂŶƵŵƵŵŬŽƌƉŽƌĂƐŝ
:ĂƚƵŚdĞŵƉŽ Ϯϱ:ƵůŝϮϬϮϲ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
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WĞŵďĂƚĂƐĂŶ ĂůĂŵ WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ ^ŝŶĚŝŬĂƐŝ ϮϬϮϮ͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ
ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ
ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ
ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ
ŵĞŵďĂƚĂƐŝĚĂŶŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶƐĞƌƚĂ ŚĂŬĚĂƌŝ ƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ /͖ ĚĂŶ ŬĂƌĞŶĂŶLJĂ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ďĞƌŬĞǁĂũŝďĂŶ ƵŶƚƵŬ
ŵĞŵŝŶƚĂ ƉĞƌƐĞƚƵũƵĂŶ ƚĞƌƚƵůŝƐ ƚĞƌůĞďŝŚ ĚĂŚƵůƵ ŬĞƉĂĚĂ WĞŵďĞƌŝ WŝŶũĂŵĂŶ ĂƚĂƵ
ŐĞŶƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŝŶŝ ĂĚĂůĂŚ ƐĞďĞƐĂƌ
;KƵƚƐƚĂŶĚŝŶŐͿ ZƉϮ͘ϱϮϯ͘ϵϲϱ͘ϲϲϱ͘Ϯϲϲ
ϯϮ͘ EĂŵĂWĞƌũĂŶũŝĂŶ WĞƌũĂŶũŝĂŶ &ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ ĞƌũĂŶŐŬĂ ƐĞďĞƐĂƌ h^ΨϰϬϬ͘ϬϬϬ͘ϬϬϬ ƚĂŶŐŐĂů
ϯϭKŬƚŽďĞƌϮϬϮϯ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶ;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ“Perjanjian Kredit
Sindikasi 2023”Ϳ͘
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Penerima Pinjaman”Ϳ͖
Ϯ͘ ^ƵŵŝƚŽŵŽ DŝƚƐƵŝ ĂŶŬŝŶŐ ŽƌƉŽƌĂƚŝŽŶ͕ ĂďĂŶŐ ^ŝŶŐĂƉŽƌĞ͖ Wd ĂŶŬ ^D
/ŶĚŽŶĞƐŝĂdďŬ͖ĂŶŬŽĨŚŝŶĂ;,ŽŶŐ<ŽŶŐͿ>ŝŵŝƚĞĚ͖ĂŶŬŽĨŚŝŶĂ;,ŽŶŐ<ŽŶŐͿ
>ŝŵŝƚĞĚ͕ĂďĂŶŐ:ĂŬĂƌƚĂ͖/DĂŶŬĞƌŚĂĚ͕ĂďĂŶŐ^ŝŶŐĂƉŽƌĞ͖WdĂŶŬ/D
ŝĂŐĂdďŬ͖dĂŶŬŽ͕͘>ƚĚ͖^ĂŶŬ>ƚĚ͖WdĂŶŬDĂŶĚŝƌŝ;WĞƌƐĞƌŽͿdďŬ͖
DŝnjƵŚŽ ĂŶŬ͕ >ƚĚ͖ Wd ĂŶŬ DŝnjƵŚŽ /ŶĚŽŶĞƐŝĂ͖ KǀĞƌƐĞĂͲŚŝŶĞƐĞ ĂŶŬŝŶŐ
ŽƌƉŽƌĂƚŝŽŶ>ŝŵŝƚĞĚ͖Z,ĂŶŬĞƌŚĂĚ;“Para Penerima Mandat Pengatur
Utama dan Pengelolaan Pembukuan”Ϳ͖
ϯ͘ ^ ĂŶŬ >ƚĚ͖ KǀĞƌƐĞĂͲŚŝŶĞƐĞ ĂŶŬŝŶŐ ŽƌƉŽƌĂƚŝŽŶ >ŝŵŝƚĞĚ͖ Z, ĂŶŬ
ĞƌŚĂĚ͖dĂŶŬŽ͕>ƚĚ͖/DĂŶŬĞƌŚĂĚ͕ĂďĂŶŐ^ŝŶŐĂƉƵƌĂ͖ĂŶŬŽĨ
ŚŝŶĂ ;,ŽŶŐ <ŽŶŐͿ >ŝŵĞĚ͖ ^ƵŵŝƚŽŵŽ DŝƚƐƵŝ ĂŶŬŝŶŐ ŽƉŽƌĂƚŝŽŶ ĂďĂŶŐ
^ŝŶŐĂƉŽƌĞ͖ dĂŝǁĂŶ ŽŽƉĞƌĂƚŝǀĞ ĂŶŬ͕ ĂďĂŶŐ >ƵĂƌ EĞŐĞƌŝ͖ >ĂŶĚ ĂŶŬ ŽĨ
dĂŝǁĂŶ͖&ŝƌƐƚŽŵŵĞƌĐŝĂůĂŶŬ͕ĂďĂŶŐ>ƵĂƌEĞŐĞƌŝ͖dĂŝƉĞŝ&ƵŵŵĞƌĐŝĂů
ĂŶŬ Ž͕ >ƚĚ͕ ĂďĂŶŐ ^ŝŶŐĂƉƵƌĂ͖ ĂŶŬ ŽĨ dŚĞ WŚŝůŝƉƉŝŶĞ /ƐůĂŶĚƐ͖ dĂŝƐŚŝŶ
/ŶƚĞƌŶĂƚŝŽŶĂů ĂŶŬ͖ dĂŝǁĂŶ ƵƐŝŶĞƐƐ ĂŶŬ >ƚĚ͕ ĂďĂŶŐ >ƵĂƌ EĞŐĞƌŝ͖ dŚĞ
^ŚĂŶŐŚĂŝ ŽŵŵĞƌĐŝĂů Θ ^ĂǀŝŶŐƐ ĂŶŬ͕ >ƚĚ͕ ĂďĂŶŐ >ƵĂƌ EĞŐĞƌŝ͖ ,ƵĂ EĂŶ
ŽŵŵĞƌĐŝĂůĂŶŬ>ƚĚ͕ĂďĂŶŐ>ƵĂƌEĞŐĞƌŝ͖ĂŶŬŽĨWĂŶŚƐŝŶ͖ĂŶŬŽĨdĂŝǁĂŶ͕
ĂďĂŶŐ ^ŝŶŐĂƉƵƌĂ͖ ŚĂŶŐ ,ǁĂ ŽŵŵĞƌĐŝĂů ĂŶŬ >ƚĚ͕ ĂďĂŶŐ >ƵĂƌ EĞŐĞƌŝ͖
dĂŝǁĂŶ^ŚŝŶ<ŽŶŐŽŵŵĞƌĐŝĂůĂŶŬŽ͕>ƚĚ͖DĞŐĂ/ŶƚĞƌŶĂƚŝŽŶĂůŽŵŵĞƌĐŝĂů
ĂŶŬŽ͕>ƚĚ͕ĂďĂŶŐ>ƵĂƌEĞŐĞƌŝ͖ ^ƵŶŽŵŵĞƌĐŝĂůĂŶŬ͕>ƚĚ͖dŚĞ,LJĂŬƵŐŽ
ĂŶŬ͕>ƚĚ͖,ƵĂEĂŶŽŵŵĞĐŝĂůĂŶŬ>ƚĚ͕ĂďĂŶŐ^ŝŶŐĂƉƵƌĂ͖WdĂŶŬDĂŶĚŝƌŝ
;WĞƌƐĞƌŽͿ ƚďŬ͕͘ ĂďĂŶŐ ^ŝŶŐĂƉƵƌĂ͖ Wd ĂŶŬ DŝnjƵŚŽ /ŶĚŽŶĞƐŝĂ͖ dŚĞ <ŽƌĞĂ
ĞǀĞůŽƉŵĞŶƚ ĂŶŬ͕ ĂďĂŶŐ ^ŝŶŐĂƉŽƌĂ͖ Wd ĂŶŬ /D EŝĂŐĂ dďŬ͖ Wd ĂŶŬ
^D /ŶĚŽŶĞƐŝĂ dďŬ͖ ĂŶŬ ŽĨ ŚŝŶĂ ;,ŽŶŐ <ŽŶŐͿ >ŝŵŝƚĞĚ ĂďĂŶŐ :ĂŬĂƌƚĂ͖
WdĂŶŬZĂŬLJĂƚ/ŶĚŽŶĞƐŝĂ;WĞƌƐĞƌŽͿdďŬ͖WdĂŶŬdĂďƵŶŐĂŶEĞŐĂƌĂ;WĞƌƐĞƌŽͿ
dďŬ͖WdĂŶŬDĂƐƉŝŽŶ/ŶĚŽŶĞƐŝĂdďŬ͖WdĂŶŬ^//ŶĚŽŶĞƐŝĂ͖Wd͘ĂŶŬ<
,ĂŶĂ /ŶĚŽŶĞƐŝĂ͖ Wd ĂŶŬ DĂLJĂƉĂĚĂ /ŶƚĞƌŶĂƐŝŽŶĂů͕ dďŬ͖ Wd͘ ĂŶŬ tŽŽƌŝ
^ĂƵĚĂƌĂ/ŶĚŽŶĞƐŝĂϭϵϬϲ͕dďŬ;“Para Pemberi Pinjaman”Ϳ͖
ϰ͘ dĂŶŬŽ͕>ƚĚ;“Agen”Ϳ͖
ϱ͘ WdĂŶŬd/ŶĚŽŶĞƐŝĂ;“Bank Rekening”Ϳ͖
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚ^ŝŶĚŝŬĂƐŝϮϬϮϯŝŶŝ͕&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚŝŶŝĚŝďĞƌŝŬĂŶŽůĞŚ
WĂƌĂ WĞŵďĞƌŝ WŝŶũĂŵĂŶ ŬĞƉĂĚĂ WĞŶĞƌŝŵĂ WŝŶũĂŵĂŶ ƐĞůƵƌƵŚŶLJĂ ƐĞďĞƐĂƌ
h^ΨϰϬϬ͘ϬϬϬ͘ϬϬϬ;ĞŵƉĂƚƌĂƚƵƐũƵƚĂŽůůĂƌŵĞƌŝŬĂ^ĞƌŝŬĂƚͿ͕ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭ͘ &ĂƐŝůŝƚĂƐdĂŚĂƉ͗
EŽ͘ WĞŵďĞƌŝWŝŶũĂŵĂŶ <ŽŵŝƚŵĞŶ;h^ΨͿ
ϭ͘ ^ĂŶŬ>ƚĚ Ϯϱ͘ϬϬϬ͘ϬϬϬ
Ϯ͘ KǀĞƌƐĞĂͲŚŝŶĞƐĞĂŶŬŝŶŐŽƌƉŽƌĂƚŝŽŶ>ŝŵŝƚĞĚ Ϯϱ͘ϬϬϬ͘ϬϬϬ
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
ϯ͘ Z,ĂŶŬĞƌŚĂĚ Ϯϱ͘ϬϬϬ͘ϬϬϬ
ϰ͘ dĂŶŬŽ͕>ƚĚ Ϯϱ͘ϬϬϬ͘ϬϬϬ
ϱ͘ /DĂŶŬĞƌŚĂĚ͕ĂďĂŶŐ^ŝŶŐĂƉƵƌĂ ϭϮ͘ϱϬϬ͘ϬϬϬ
ϲ͘ ĂŶŬŽĨŚŝŶĂ;,ŽŶŐ<ŽŶŐͿ>ŝŵĞĚ ϭϮ͘ϱϬϬ͘ϬϬϬ
ϳ͘ ^ƵŵŝƚŽŵŽDŝƚƐƵŝĂŶŬŝŶŐŽƉŽƌĂƚŝŽŶ ϭϮ͘ϱϬϬ͘ϬϬϬ
ĂďĂŶŐ^ŝŶŐĂƉŽƌĞ
ϴ͘ dĂŝǁĂŶŽŽƉĞƌĂƚŝǀĞĂŶŬ͕ĂďĂŶŐ>ƵĂƌEĞŐĞƌŝ ϭϬ͘ϬϬϬ͘ϬϬϬ
ϵ͘ >ĂŶĚĂŶŬŽĨdĂŝǁĂŶ ϭϬ͘ϬϬϬ͘ϬϬϬ
ϭϬ͘ &ŝƌƐƚŽŵŵĞƌĐŝĂůĂŶŬ͕ĂďĂŶŐ>ƵĂƌEĞŐĞƌŝ
ϭϬ͘ϬϬϬ͘ϬϬϬ
ϭϭ͘ dĂŝƉĞŝ&ƵŵŵĞƌĐŝĂůĂŶŬŽ͕>ƚĚ͕
ϴ͕ϬϬϬ͘ϬϬϬ
ĂďĂŶŐ^ŝŶŐĂƉƵƌĂ
ϭϮ͘ ĂŶŬŽĨdŚĞWŚŝůŝƉƉŝŶĞ/ƐůĂŶĚƐ
ϳ͘ϬϬϬ͘ϬϬϬ
ϭϯ͘ dĂŝƐŚŝŶ/ŶƚĞƌŶĂƚŝŽŶĂůĂŶŬ
ϳ͘ϬϬϬ͘ϬϬϬ
ϭϰ͘ dĂŝǁĂŶƵƐŝŶĞƐƐĂŶŬ>ƚĚ͕
ϳ͘ϬϬϬ͘ϬϬϬ
ĂďĂŶŐ>ƵĂƌEĞŐĞƌŝ
ϭϱ͘ dŚĞ^ŚĂŶŐŚĂŝŽŵŵĞƌĐŝĂůΘ^ĂǀŝŶŐƐĂŶŬ͕
ϲ͘ϬϬϬ͘ϬϬϬ
>ƚĚ͕ĂďĂŶŐ>ƵĂƌEĞŐĞƌŝ
ϭϲ͘ ,ƵĂEĂŶŽŵŵĞƌĐŝĂůĂŶŬ>ƚĚ͕
ϲ͘ϱϬϬ͘ϬϬϬ
ĂďĂŶŐ>ƵĂƌEĞŐĞƌŝ
ϭϳ͘ ĂŶŬŽĨWĂŶŚƐŝŶ
ϱ͘ϱϬϬ͘ϬϬϬ
ϭϴ͘ ĂŶŬŽĨdĂŝǁĂŶ͕ĂďĂŶŐ^ŝŶŐĂƉƵƌĂ
ϱ͘ϱϬϬ͘ϬϬϬ
ϭϵ͘ ŚĂŶŐ,ǁĂŽŵŵĞƌĐŝĂůĂŶŬ>ƚĚ͕
ϱ͘ϱϬϬ͘ϬϬϬ
ĂďĂŶŐ>ƵĂƌEĞŐĞƌŝ
ϮϬ͘ dĂŝǁĂŶ^ŚŝŶ<ŽŶŐŽŵŵĞƌĐŝĂůĂŶŬŽ͕>ƚĚ
ϱ͘ϱϬϬ͘ϬϬϬ
Ϯϭ͘ DĞŐĂ/ŶƚĞƌŶĂƚŝŽŶĂůŽŵŵĞƌĐŝĂůĂŶŬŽ͕>ƚĚ͕
ϱ͘ϱϬϬ͘ϬϬϬ
ĂďĂŶŐ>ƵĂƌEĞŐĞƌŝ
ϮϮ͘ ^ƵŶŽŵŵĞƌĐŝĂůĂŶŬ͕>ƚĚ
ϱ͘ϬϬϬ͘ϬϬϬ
Ϯϯ͘ dŚĞ,LJĂŬƵŐŽĂŶŬ͕>ƚĚ
ϰ͘ϬϬϬ͘ϬϬϬ
Ϯϰ͘ ,ƵĂEĂŶŽŵŵĞĐŝĂůĂŶŬ>ƚĚ͕
ϯ͘ϱϬϬ͘ϬϬϬ
ĂďĂŶŐ^ŝŶŐĂƉƵƌĂ
dŽƚĂů Ϯϰϵ͘ϬϬϬ͘ϬϬϬ
Ϯ͘ &ĂƐŝůŝƚĂƐdĂŚĂƉ͗
EŽ͘ WĞŵďĞƌŝWŝŶũĂŵĂŶ <ŽŵŝƚŵĞŶ;h^Ϳ
ϭ͘ WdĂŶŬDĂŶĚŝƌŝ;WĞƌƐĞƌŽͿdďŬ͕ Ϯϱ͘ϬϬϬ͘ϬϬϬ
ĂďĂŶŐ^ŝŶŐĂƉƵƌĂ
Ϯ͘ WdĂŶŬDŝnjƵŚŽ/ŶĚŽŶĞƐŝĂ Ϯϱ͘ϬϬϬ͘ϬϬϬ
ϯ͘ dŚĞ<ŽƌĞĂĞǀĞůŽƉŵĞŶƚĂŶŬ͕ ϭϯ͘ϱϬϬ͘ϬϬϬ
ĂďĂŶŐ^ŝŶŐĂƉŽƌĂ
ϰ͘ WdĂŶŬ/DEŝĂŐĂdďŬ ϭϮ͘ϱϬϬ͘ϬϬϬ
ϱ͘ WdĂŶŬ^D/ŶĚŽŶĞƐŝĂdďŬ ϭϮ͘ϱϬϬ͘ϬϬϬ
ϲ͘ ĂŶŬŽĨŚŝŶĂ;,ŽŶŐ<ŽŶŐͿ>ŝŵŝƚĞĚ ϭϮ͘ϱϬϬ͘ϬϬϬ
ĂďĂŶŐ:ĂŬĂƌƚĂ
ϳ͘ WdĂŶŬZĂŬLJĂƚ/ŶĚŽŶĞƐŝĂ;WĞƌƐĞƌŽͿdďŬ ϭϬ͘ϬϬϬ͘ϬϬϬ
ϴ͘ WdĂŶŬdĂďƵŶŐĂŶEĞŐĂƌĂ;WĞƌƐĞƌŽͿdďŬ ϭϬ͘ϬϬϬ͘ϬϬϬ
ϵ͘ WdĂŶŬDĂƐƉŝŽŶ/ŶĚŽŶĞƐŝĂdďŬ ϴ͘ϬϬϬ͘ϬϬϬ
ϭϬ͘ WdĂŶŬ^//ŶĚŽŶĞƐŝĂ ϲ͘ϬϬϬ͘ϬϬϬ
ϭϭ͘ WdĂŶŬ< ,ĂŶĂ/ŶĚŽŶĞƐŝĂ ϱ͘ϱϬϬ͘ϬϬϬ
ϭϮ͘ WdĂŶŬDĂLJĂƉĂĚĂ/ŶƚĞƌŶĂƐŝŽŶĂů͕dďŬ ϱ͘ϱϬϬ͘ϬϬϬ
ϭϯ͘ WdĂŶŬtŽŽƌŝ^ĂƵĚĂƌĂ/ŶĚŽŶĞƐŝĂϭϵϬϲ͕dďŬ ϱ͘ϬϬϬ͘ϬϬϬ
dŽƚĂů ϭϱϭ͘ϬϬϬ͘ϬϬϬ
;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ“Fasilitas Kredit”Ϳ͘
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
dƵũƵĂŶ WĞŶĞƌŝŵĂ WŝŶũĂŵĂŶ ŚĂƌƵƐ ŵĞŶŐŐƵŶĂŬĂŶ ƐĞůƵƌƵŚ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ ŝŶŝ ƵŶƚƵŬ
ƉĞŵďŝĂLJĂĂŶƚƵũƵĂŶͲƚƵũƵĂŶƵŵƵŵŬŽƌƉŽƌĂƐŝ͘
:ĂƚƵŚdĞŵƉŽ ϭϴDĞŝϮϬϮϵ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ ^ŝŶĚŝŬĂƐŝ ϮϬϮϯ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ
ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ
ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ
ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ
ŵĞŵďĂƚĂƐŝĚĂŶŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶƐĞƌƚĂ ŚĂŬĚĂƌŝ ƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ /͖ ĚĂŶ ŬĂƌĞŶĂŶLJĂ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ďĞƌŬĞǁĂũŝďĂŶ ƵŶƚƵŬ
ŵĞŵŝŶƚĂ ƉĞƌƐĞƚƵũƵĂŶ ƚĞƌƚƵůŝƐ ƚĞƌůĞďŝŚ ĚĂŚƵůƵ ŬĞƉĂĚĂ WĞŵďĞƌŝ WŝŶũĂŵĂŶ ĂƚĂƵ
ŐĞŶƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŝŶŝ ĂĚĂůĂŚ ƐĞďĞƐĂƌ
;KƵƚƐƚĂŶĚŝŶŐͿ ZƉϮ͘ϱϲϱ͘ϳϭϳ͘ϱϬϬ͘ϬϬϬ
ϯϯ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂ WĞƌũĂŶũŝĂŶ >ŝŶĞ &ĂĐŝůŝƚLJ WĞŵďŝĂLJĂĂŶ ĞƌĚĂƐĂƌŬĂŶ WƌŝŶƐŝƉ ^LJĂƌŝĂŚ EŽ͘ ϭϰ
ƚĂŶŐŐĂůϮϮĞƐĞŵďĞƌϮϬϮϮ͕ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶEƵƌŚĂƐĂŶĂŚ͕^͘,͕͘D͘<Ŷ͕͘EŽƚĂƌŝƐĚŝ
Jakarta (“PK Muamalat”).
WĂƌĂWŝŚĂŬ ϭ͘ Perseroan (“Nasabah”); dan
Ϯ͘ PT Bank Muamalat Indonesia Tbk (“Bank”);
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲsama disebut “Para Pihak”.
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬŵĞŵďĞƌŝŬĂŶ ĨĂƐŝůŝƚĂƐ>ŝŶĞ&ĂĐŝůŝƚLJůDƵƐLJĂƌĂŬĂŚ; džĞĐƵƚŝŶŐͿďĞƌƐŝĨĂƚEŽŶ
ZĞǀŽůǀŝŶŐƐĞďĞƐĂƌZƉϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ůŝŵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ͘
dƵũƵĂŶ DŽĚĂůŬĞƌũĂƉĞŵďŝĂLJĂĂŶ
:ĂƚƵŚdĞŵƉŽ ϮϯĞƐĞŵďĞƌϮϬϮϱ
:ĂŵŝŶĂŶ hŶƚƵŬ ŵĞŶũĂŵŝŶ ƚĞƌďĂLJĂƌŶLJĂ ĚĞŶŐĂŶ ďĂŝŬ ĚĂŶ ĚĞŶŐĂŶ ĐĂƌĂ ƐĞďĂŐĂŝŵĂŶĂ
ŵĞƐƚŝŶLJĂĂƚĂƐĨĂƐŝůŝƚĂƐďĞƌĚĂƐĂƌŬĂŶW<DƵĂŵĂůĂƚ͕EĂƐĂďĂŚŵĞŵďĞƌŝŬĂŶũĂŵŝŶĂŶ
ŬĞƉĂĚĂ ĂŶŬ͕ ďĞƌƵƉĂ ƉŝƵƚĂŶŐ ĂƚĂƐ ƉĞŵďŝĂLJĂĂŶ ƐLJĂƌŝĂŚ ŬĞƉĂĚĂ ĞŶĚ
ƵƐĞƌͬŬŽŶƐƵŵĞŶ ĚĞŶŐĂŶ ŶŝůĂŝ ƉĞŶũĂŵŝŶĂŶ ϱϬй ;ůŝŵĂ ƉƵůƵŚ ƉĞƌƐĞŶͿ ĚĂƌŝ ƉŽŬŽŬ
ŚƵƚĂŶŐͬŽƵƚƐƚĂŶĚŝŶŐĂƚĂƵƐĞďĞƐĂƌZƉϮϱ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ĚƵĂƉƵůƵŚůŝŵĂŵŝůŝĂƌͿ͘
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<DƵĂŵĂůĂƚ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬDƵĂŵĂůĂƚƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ
/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŝŶŝ ĂĚĂůĂŚ ƐĞďĞƐĂƌ
;KƵƚƐƚĂŶĚŝŶŐͿ ZƉϭϳ͘ϲϳϯ͘ϱϮϭ͘ϮϮϵ
ϯϰ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ŬƚĂWĞƌũĂŶũŝĂŶ<ƌĞĚŝƚ;<ƌĞĚŝƚDŽĚĂů<ĞƌũĂͿEŽ͘ϭϴϰƚĂŶŐŐĂůϭϲ:ƵŶŝϮϬϮϯ͕ĚŝďƵĂƚ
ĚŝŚĂĚĂƉĂŶŚƌŝƐƌƚŝŶĂǁŝhƚĂŵŝ͕^͘,͕͘D͘,Ƶŵ͕͘D͘<Ŷ͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂũƵŶĐƚŽ
WĞƌƐLJĂƌĂƚĂŶ hŵƵŵ WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ ƚĂŶŐŐĂů ϭϲ :ƵŶŝ ϮϬϮϯ͕ >ĞŐĂůŝƐĂƐŝ
EŽ͘ Ϯϳϭϴͬ>ͬϮϬϮϯ ƚĂŶŐŐĂů ϭϲ :ƵŶŝ ϮϬϮϯ ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ ŚƌŝƐƚŝŶĂ ǁŝ hƚĂŵŝ͕
^͘,͕͘D͘,Ƶŵ͕͘D͘<Ŷ͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ;ƐĞůĂŶũƵƚŶLJĂĚŝƐĞďƵƚ“PK Bank IBK”Ϳ͘
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
WĂƌĂWŝŚĂŬ
ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ WdĂŶŬ/</ŶĚŽŶĞƐŝĂdďŬ;“Bank”Ϳ
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ
ĂŶŬDĞŵďĞƌŝŬĂŶĨĂƐŝůŝƚĂƐ<ƌĞĚŝƚŬĞƉĂĚĂĞďŝƚƵƌ͕ďĞƌƵƉĂĨĂƐŝůŝƚĂƐtŽƌŬŝŶŐĂƉŝƚĂů
džĞĐƵƚŝŶŐ;t ͿƐĞďĞƐĂƌZƉϭϱϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƐĞƌĂƚƵƐůŝŵĂƉƵůƵŚŵŝůŝĂƌZƵƉŝĂŚͿ͘
^ƵŬƵƵŶŐĂ ϳ͕ϯϬйƉĞƌƚĂŚƵŶ͘
dƵũƵĂŶ ĞďŝƚƵƌĂŬĂŶŵĞŶŐŐƵŶĂŬĂŶĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝƵŶƚƵŬŵŽĚĂůŬĞƌũĂƉĞŵďŝĂLJĂĂŶ
:ĂŶŐŬĂǁĂŬƚƵ Ϯϲ:ƵŶŝϮϬϮϳ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵW<ĂŶŬ/<͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂĂŶŬĂŶŬ/<ƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ
/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ŽƵƚƐƚĂŶĚŝŶŐ ĂƚĂƐ ĨĂƐŝůŝƚĂƐ ŝŶŝ ĂĚĂůĂŚ ƐĞďĞƐĂƌ
;KƵƚƐƚĂŶĚŝŶŐͿ ZƉϵϴ͘ϳϵϲ͘ϴϴϴ͘Ϭϯϲ
ϯϱ͘ EĂŵĂWĞƌũĂŶũŝĂŶ ^ƵƌĂƚ WĞƌũĂŶũŝĂŶ <ƌĞĚŝƚ EŽ͘ ϮϬϮϯͲϬϬϰϴϴϯϯ ƚĂŶŐŐĂů ϭϱ ĞƐĞŵďĞƌ ϮϬϮϯ͕ ĚŝďƵĂƚ
ĚŝďĂǁĂŚƚĂŶŐĂŶũƵŶĐƚŽ^ƵƌĂƚEŽ͘Ϯϳϭͬ ͬϭϮϯϯƚĂŶŐŐĂůϮϵĞƐĞŵďĞƌϮϬϮϯ;“PK
MUFG”Ϳ
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ Dh&'ĂŶŬ>ƚĚ;“Bank”Ϳ͖
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ĂŶŬŵĞŵďĞƌŝŬĂŶĨĂƐŝůŝƚĂƐŬĞƉĂĚĂŬĞƉĂĚĂĞďŝƚƵƌ͗
ϭ͘ &ĂƐŝůŝƚĂƐ ƉŝŶũĂŵĂŶ ďĞƌŐƵůŝƌ ƚĂŶƉĂ ŬŽŵŝƚŵĞŶ͕ ƐĞďĞƐĂƌ ZƉϰϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ
;ĞŵƉĂƚ ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĂƚĂƵ ŶŝůĂŝ LJĂŶŐ ƐĞƚĂƌĂ ĚĞŶŐĂŶ ŵĂƚĂ ƵĂŶŐ h^
ŽůůĂƌ͕ ĚĞŶŐĂŶ ƐƵŬƵ ďƵŶŐĂ͗ ŽƐƚ ŽĨ &ƵŶĚ н DĂƌŐŝŶ͘ &ĂƐŝůŝƚĂƐ ŝŶŝ ĚŝŐƵŶĂŬĂŶ
ŽůĞŚ ĞďŝƚƵƌ ƵŶƚƵŬ ŵĞŵďŝĂLJĂŝ ŬĞďƵƚƵŚĂŶ ŵŽĚĂů ŬĞƌũĂ͘ :ĂŶŐŬĂ ǁĂŬƚƵ
ƉĞŵďĂLJĂƌĂŶŬĞŵďĂůŝĂƚĂƐĨĂƐŝŝƚĂƐŝŶŝƉĂĚĂƚĂŶŐŐĂůϭϱĞƐĞŵďĞƌϮϬϮϱ͖
Ϯ͘ &ĂƐŝůŝƚĂƐ ƉŝŶũĂŵĂŶ ďĞũĂŶŐŬĂ͕ ƐĞďĞƐĂƌ ZƉϮϵ͘ϭϲϲ͘ϲϲϲ͘ϲϲϲ͕ϲϱ͕ ĚĞŶŐĂŶ ƐƵŬƵ
ďƵŶŐĂ͗ϲ͕ϳϱййͬƚĂŚƵŶ͘&ĂƐŝůŝƚĂƐŝŶŝĚŝŐƵŶĂŬĂŶŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵĞŵďŝĂLJĂŝ
ŬĞďƵƚƵŚĂŶŵŽĚĂůŬĞƌũĂ͘:ĂŶŐŬĂǁĂŬƚƵƉĞŵďĂLJĂƌĂŶŬĞŵďĂůŝĂƚĂƐĨĂƐŝŝƚĂƐŝŶŝ
ƉĂĚĂƚĂŶŐŐĂůϯϬ^ĞƉƚĞŵďĞƌϮϬϮϱ͖
ϯ͘ &ĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶďĞũĂŶŐŬĂ͕ƐĞďĞƐĂƌh^ϭϬ͕ϭϰϰ͘Ϯϳϳ͘ϳϮ͕ĚĞŶŐĂŶƐƵŬƵďƵŶŐĂ͗
ϳ͕ϰϬйͬƚĂŚƵŶ͘ &ĂƐŝůŝƚĂƐ ŝŶŝ ĚŝŐƵŶĂŬĂŶ ŽůĞŚ ĞďŝƚƵƌ ƵŶƚƵŬ ŵĞŵďŝĂLJĂŝ
ŬĞďƵƚƵŚĂŶŵŽĚĂůŬĞƌũĂ͘:ĂŶŐŬĂǁĂŬƚƵƉĞŵďĂLJĂƌĂŶŬĞŵďĂůŝĂƚĂƐĨĂƐŝŝƚĂƐŝŶŝ
ƉĂĚĂƚĂŶŐŐĂůϯϬ^ĞƉƚĞŵďĞƌϮϬϮϱ͖ĚĂŶ
ϰ͘ &ĂƐŝůŝƚĂƐ&ŽƌǁĂƌĚDĂƚĂhĂŶŐƐŝŶŐƐĞďĞƐĂƌh^Ϯϭ͕ϲϬϬ͘ϬϬϬ;ĚƵĂƉƵůƵŚƐĂƚƵ
ũƵƚĂ ĞŶĂŵ ƌĂƚƵƐ ƌŝďƵ ŽůůĂƌ ŵĞƌŝŬĂ ^ĞƌŝŬĂƚͿ͕ ƚƵũƵĂŶ ĨĂƐŝůŝƚĂƐ ŝŶŝ ƵŶƚƵŬ
ŵĞŶLJŽŬŽŶŐůŝŶĚƵŶŐŶŝůĂŝ&y;ŵĂƚĂƵĂŶŐĂƐŝŶŐͿ͘:ĂƚƵŚƚĞŵƉŽĂƚĂƐĨĂƐŝůŝƚĂƐŝŶŝ
ƉĂĚĂƚĂŶŐŐĂůϭϱĞƐĞŵďĞƌϮϬϮϱ͘
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
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EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< Dh&'͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂDh&'ƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐ ĨĂƐŝůŝƚĂƐŝŶŝĂĚĂůĂŚƐĞďĞƐĂƌZ
;KƵƚƐƚĂŶĚŝŶŐͿ ZƉϵϬ͘ϵϭϭ͘ϳϯϲ͘ϵϴϯ
ϯϲ͘ EĂŵĂWĞƌũĂŶũŝĂŶ WĞƌũĂŶũŝĂŶ /ŶĚƵŬ &ĂƐŝůŝƚĂƐ <ƌĞĚŝƚ ;dĂŶƉĂ <ŽŵŝƚŵĞŶͿ
EŽ͘ D&ͬϬϬϬϵϬͬ/&/ͬϭϬϭϮϮϬϮϰ ƚĂŶŐŐĂů ϭϲ ĞƐĞŵďĞƌ ϮϬϮϰ͕ ĚŝďƵĂƚ Ěŝ ďĂǁĂŚ
tangan (“PK Citibank”).
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ ŝƚŝďĂŶŬ͕E͘ĂďĂŶŐ:ĂŬĂƌƚĂ;“Citibank”Ϳ͖
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ŝƚŝďĂŶŬŵĞŵďĞƌŝŬĂŶĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶŬĞƉĂĚĂĞďŝƚƵƌ͕ďĞƌƵƉĂ&ĂƐŝŝƚĂƐWŝŶũĂŵĂŶ
DŽĚĂů <ĞƌũĂͬĞƌƵŬĂŶ ƐĞďĞƐĂƌ ZƉϯϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ƚŝŐĂ ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ͘
&ĂƐŝůŝƚĂƐŝŶŝďĞƌƐŝĨĂƚƚĂŶƉĂŬŽŵŝƚŵĞŶ͘
^ƵŬƵƵŶŐĂ ĚŝƚĞŶƚƵŬĂŶƉĂĚĂƐĂĂƚƉĞŶĂƌŝŬĂŶ
:ĂŶŐŬĂǁĂŬƚƵ ϭϲĞƐĞŵďĞƌϮϬϮϱ͘
dƵũƵĂŶ ĞďŝƚƵƌĂŬĂŶŵĞŶŐŐƵŶĂŬĂŶĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŝŶŝƵŶƚƵŬŵŽĚĂůŬĞƌũĂ
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< ŝƚŝďĂŶŬ͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂŝƚŝďĂŶŬƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
ϯϳ͘ EĂŵĂWĞƌũĂŶũŝĂŶ WĞƌũĂŶũŝĂŶ WĞŵďĞƌŝĂŶ &ĂƐŝůŝƚĂƐ WĞƌďĂŶŬĂŶ <ŽƌƉŽƌĂƐŝ EŽ͘ :<ͬϮϭϮϳϵϬͬhͬϮϰϬϵϬϱ
tanggal 12 Desember 2024, dibuat di bawah tangan (“PK HSBC”).
WĂƌĂWŝŚĂŬ ϭ͘ WĞƌƐĞƌŽĂŶ;“Debitur”Ϳ͖ĚĂŶ
Ϯ͘ PT Bank HSBC Indonesia (“HSBC”);
^ĞůĂŶũƵƚŶLJĂ͕ƐĞĐĂƌĂďĞƌƐĂŵĂͲƐĂŵĂĚŝƐĞďƵƚ“Para Pihak”͘
&ĂƐŝůŝƚĂƐ<ƌĞĚŝƚ ,^ŵĞŵďĞƌŝŬĂŶĨĂƐŝůŝƚĂƐŬƌĞĚŝƚŬĞƉĂĚĂĞďŝƚƵƌ͗
ϭ͘ WŝŶũĂŵĂŶďĞƌƵůĂŶŐͬƌĞǀŽůǀŝŶŐůŽĂŶ͕ƐĞďĞƐĂƌZƉϭϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƐĞƌĂƚƵƐ
ŵŝůŝĂƌ ZƵƉŝĂŚͿ͘ &ĂƐŝůŝƚĂƐ ŝŶŝ ũƵŐĂ ƚĞƌƐĞĚŝĂ ĚĂůĂŵ ŵĂƚĂ ƵĂŶŐ h^͘ :ŝŬĂ
ƉĞŶĂƌŝŬĂŶ ĚĂůĂŵ ŵĂƚĂ ƵĂŶŐ h^͕ ĞďŝƚƵƌ ŚĂƌƵƐ ŵĞůĂŬƵŬĂŶ ƚƌĂŶƐĂŬƐŝ
ůŝŶĚƵŶŐ ŶŝůĂŝ ĚĞŶŐĂŶ ũƵŵůĂŚ LJĂŶŐ ƐĂŵĂ ĚĞŶŐĂŶ ũƵŵůĂŚ ƉĞŶĂƌŝŬĂŶ ƉĂĚĂ
ĂŶŬ͘^ƵŬƵďƵŶŐĂĂƚĂƐĨĂƐŝůŝƚĂƐŝŶŝĚŝƚĞŶƚƵŬĂŶƉĂĚĂƐĂĂƚƉĞŶĂƌŝŬĂŶ͘ĚĂƉƵŶ
ƚƵũƵĂŶĨĂƐŝůŝƚĂƐŝŶŝŽůĞŚĞďŝƚƵƌƵŶƚƵŬŵĞŵďŝĂLJĂŝŬĞďƵƚƵŚĂŶŵŽĚĂůŬĞƌũĂ͘
dĞŶŽƌ ĂƚĂƐ ƐĞƚŝĂƉ ƉŝŶũĂŵĂŶ ĂĚĂůĂŚ ŵĂŬƐŝŵƵŵ ϯ ďƵůĂŶ ƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ
ƚĂŶŐŐĂůƉĞŶĐĂŝƌĂŶ͘
81
Page 102
PT INDOMOBIL FINANCE INDONESIA
EŽ͘ WĞƌŝŚĂů hƌĂŝĂŶ
Ϯ͘ &ĂƐŝůŝƚĂƐ dƌĞĂƐƵƌLJ͕ >ŝŵŝƚ ƉĂƉĂƌĂŶ ƚĞƌŚĂĚĂƉ ƌĞƐŝŬŽ ƐĞďĞƐĂƌ h^ϳϱϬ͕ϬϬϬ͘
ƚƵũƵĂŶĚĂƌŝĨĂƐŝůŝƚĂƐŝŶŝĂĚĂůĂŚƵŶƚƵŬŵĞŵĨĂƐŝůŝƚĂƐŝŬĞďƵƚƵŚĂŶĞďŝƚƵƌĂƚĂƐ
ƚƌĂŶƐĂŬƐŝ ůŝŶĚƵŶŐ ŶŝůĂŝ ƚĞƌŚĂĚĂƉ ĞŬƐƉŽƐƵƌ ŶŝůĂŝ ƚƵŬĂƌ ŵƵƌŶŝ ŵĞůĂůƵŝ
ƚƌĂŶƐĂŬƐŝ ƐƉŽƚ ĚĂŶͬĂƚĂƵ ĨŽƌǁĂƌĚ ;ΗdƌĂŶƐĂŬƐŝ sĂůĂƐΗͿ :ŝŬĂ ƉĞŶĂƌŝŬĂŶ ĂƚĂƐ
&ĂƐŝůŝƚĂƐ WŝŶũĂŵĂŶ ĞƌƵůĂŶŐͬƌĞǀŽůǀŝŶŐ ůŽĂŶ ƚĞƌƐĞďƵƚ Ěŝ ĂƚĂƐ ĚŝůĂŬƵŬĂŶ
ĚĂůĂŵŵĂƚĂƵĂŶŐh^͘dĞŶŽƌĂƚĂƐĨĂƐŝůŝƚĂƐŝŶŝŵĂŬƐŝŵƵŵϯďƵůĂŶ͘
:ĂŶŐŬĂtĂŬƚƵ ϭϮĞƐĞŵďĞƌϮϬϮϱ͘
:ĂŵŝŶĂŶ dĂŶƉĂũĂŵŝŶĂŶŬŚƵƐƵƐ;ĐůĞĂŶďĂƐŝƐͿ
WĞŵďĂƚĂƐĂŶ ĂůĂŵ W< ,^͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ ;ŶĞŐĂƚŝǀĞ
ĐŽǀĞŶĂŶƚƐͿ LJĂŶŐ ĚĂƉĂƚ͗ ;ĂͿ ŵĞŶŐŚĂůĂŶŐŝ ƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶ Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ ŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶ
ƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͖ĚĂŶŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵ
ŬĞƉĂĚĂ,^ƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
EŝůĂŝWŝŶũĂŵĂŶ WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕ƚŝĚĂŬĂĚĂŽƵƚƐƚĂŶĚŝŶŐĂƚĂƐĨĂƐŝůŝƚĂƐŝŶŝ
;KƵƚƐƚĂŶĚŝŶŐͿ
Ϯ͘ &ĂƐŝůŝƚĂƐ<ĞƌũĂƐĂŵĂWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂ;:ŽŝŶƚ&ŝŶĂŶĐŝŶŐͿ
Perseroan (“Pengelola”); dan PT Bank SMBC Indonesia Tbk (d/h) PT Bank BTPN Tbk (BTPN) (“SMBCI”) telah
ŵĞŵďƵĂƚ ĚĂŶ ŵĞŶĂŶĚĂƚĂŶŐĂŶŝ ƉĞƌũĂŶũŝĂŶ ŬĞƌũĂƐĂŵĂ ƉĞŵďŝĂLJĂĂŶ ďĞƌĚĂƐĂƌŬĂŶ WĞƌũĂŶũŝĂŶ <ĞƌũĂ ^ĂŵĂ
&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂƚĂŶŐŐĂůϮϬŐƵƐƚƵƐϮϬϮϮĚĂŶƚĞůĂŚĚŝůĞŐĂůŝƐĂƐŝEŽ͘ϭϮϯͬ>ͬs///ͬϮϬϮϮƚĂŶŐŐĂůϮϬ
ŐƵƐƚƵƐ ϮϬϮϮ͕ ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ sĞƌŽŶŝĐĂ EĂƚĂĂĚŵĂĚũĂ͕ ^͘,͕͘ D͘ŽƌƉ Ěŵ͕͘ D͘ Žŵŵ ;ƵƐŝŶĞƐƐ >ĂǁͿ͕
Notaris di Jakarta (“JF ^D/”).
WŽŬŽŬWĞƌũĂŶũŝĂŶ͗
ϭ͘ ^D/ĂĚĂůĂŚƐƵĂƚƵďĂŶŬLJĂŶŐŵĞƌƵƉĂŬĂŶƐƵĂƚƵďĂĚĂŶƵƐĂŚĂLJĂŶŐƐĂůĂŚƐĂƚƵŬĞŐŝĂƚĂŶƵƐĂŚĂŶLJĂĂĚĂůĂŚ
ŵĞŶŐŚŝŵƉƵŐŶ ĚĂŶĂ ĚĂƌŝ ŵĂƐLJĂƌĂŬĂƚ ĚĂůĂŵ ďĞŶƚƵŬ ƚĂďƵŶŐĂŶ ƉŝŚĂŬ ŬĞƚŝŐĂ ĚĂŶ ŵĞŶLJĂůƵƌŬĂŶ ĚĂŶĂ
ƚĞƌƐĞďƵƚŬĞƉĂĚĂŵĂƐLJĂƌĂŬĂƚĚĂůĂŵďĞŶƚƵŬŬƌĞĚŝƚ͖
Ϯ͘ WĞƌƐĞƌŽĂŶĂĚĂůĂŚƐƵĂƚƵ>ĞŵďĂŐĂŬĞƵĂŶŐĂŶďƵŬĂŶďĂŶŬLJĂŶŐŬĞŐŝĂƚĂŶƵƐĂŚĂŶLJĂĂĚĂůĂŚŵĞŶLJĞĚŝĂŬĂŶ
ĨĂƐŝůŝƚĂƐ ƉĞŵďŝĂLJĂĂŶ ŬĞƉĂĚĂ ĚĞďŝƚƵƌͬŬŽŶƐƵŵĞŶ LJĂŶŐ ŵĞŵďƵƚƵŚŬĂŶ ƉĞŵďŝĂLJĂĂŶ͕ ƐĞƌƚĂ ŵĞŵŝůŝŬŝ
ƉĞŶŐĂůĂŵĂŶ͕ ƉĞƌĂŶŐŬĂƚ ƉĞŶĚƵŬƵŶŐ ƐĞƌƚĂ ŬĞŵĂŵƉƵĂŶ ƵŶƚƵŬ ŵĞůĂŬƵŬĂŶ ŬĞŐŝĂƚĂŶ ƉĞŵďŝĂLJĂĂŶ
ĞďŝƚƵƌͬ<ŽŶƐƵŵĞŶ͕ƚĞƌŵĂƐƵŬŬĞŵĂŵƉƵĂŶƉĞŵĂƐĂƌĂŶ͕ŽƉĞƌĂƐŝŽŶĂůĚĂŶĂĚŵŝŶŝƐƚƌĂƚŝĨ͘
ϯ͘ WĂƌĂWŝŚĂŬ͕ƐĞƉĂŬĂƚƵŶƚƵŬďĞŬĞƌũĂƐĂŵĂĚĂůĂŵŵĞŶLJĞĚŝĂŬĂŶ&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂďĞƌƵƉĂ
<ĞŶĚĂƌĂĂŶ ƌŽĚĂů͕ ƌŽĚĂ ĞŵƉĂƚ ĂƚĂƵ ůĞďŝŚ ŬĞƉĂĚĂ ĚĞďŝƚƵƌͬŬŽŶƐƵŵĞŶ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ^ƚƌƵŬƚƵƌ
&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂ͘
- WůĂĨŽŶ<ĞƌũĂƐĂŵĂ͗
Perseroan dan SMBCI (“Kreditur/”Para Kreditur”) dari waktu ke waktu selama berlangsungnya
WĞƌũĂŶũŝĂŶ͕ ĂŬĂŶ ŵĞŵďĞƌŝŬĂŶ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ ĞƌƐĂŵĂ ŬĞƉĂĚĂ ĞďŝƚƵƌͬŬŽŶƐƵŵĞŶ
ĚĞŶŐĂŶ ƚŽƚĂů ƉŽƌƐŝ ƉĞŵďŝĂLJĂĂŶ ^D/ͬĂŶŬ ŵĂŬƐŝŵƵŵ ƐĞďĞƐĂƌ ZƉϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ ;ĚƵĂ
ƌĂƚƵƐ ŵŝůŝĂƌ ZƵƉŝĂŚͿ ĚĂŶ ƚŽƚĂů ƉŽƌƐŝ ƉĞŵďŝĂLJĂĂŶ WĞƌƐĞƌŽĂŶ ŵŝŶŝŵƵŵ ƐĞďĞƐĂƌ
ZƉϮ͘ϬϮϬ͘ϮϬϮ͘ϬϮϬ͕Ͳ ;ĚƵĂ ŵŝůŝĂƌ ĚƵĂ ƉƵůƵŚ ũƵƚĂ ĚƵĂ ƌĂƚƵƐ ĚƵĂ ƌŝďƵ ĚƵĂ ƉƵůƵŚ ZƵƉŝĂŚͿ ĂƚĂƵ
ũƵŵůĂŚ ůĂŝŶ LJĂŶŐ ĂŬĂŶ ĚŝƚĞŶƚƵĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŬĞƐĞƉĂŬĂƚĂŶ ^D/ ĚĂŶ WĞƌƐĞƌŽĂŶ͘ ĞďŝƚƵƌ
ĂĚĂůĂŚƐĞƚŝĂƉƉĞƌŽƌĂŶŐĂŶͬŝŶĚŝǀŝĚƵĚĂŶͬĂƚĂƵ ďĂĚĂŶƵƐĂŚĂLJĂŶŐŵĞŶũĂĚŝƉŝŚĂŬĚĂůĂŵƐƵĂƚƵ
WĞƌũĂŶũŝĂŶWĞŵďŝĂLJĂĂŶLJĂŶŐƚĞůĂŚŵĞŵĞŶƵŚŝƉĞƌƐLJĂƌĂƚĂŶLJĂŶŐĚŝƚĞƚĂƉŬĂŶĚĂůĂŵƉĞƌũĂŶũŝĂŶ
ŝŶŝƵŶƚƵŬŵĞŵƉĞƌŽůĞŚ&ĂƐŝůŝƚĂs Pembiayaan Bersama dari Kreditur (“Debitur”).
- WŽůĂWĞŵďŝĂLJĂĂŶ͗
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WŽůĂƉĞŵďŝĂLJĂĂŶLJĂŶŐĚŝďĞƌŝŬĂŶ^D/ĚĂŶWĞƌƐĞƌŽĂŶŬĞƉĂĚĂĞďŝƚƵƌĂĚĂůĂŚƉĞŵďŝĂLJĂĂŶ
ďĞƌƐĂŵĂ͕ ĚŝŵĂŶĂ ĂŶŬ ƐĞƚƵũƵ ŵĞŶƵŶũƵŬ WĞƌƐĞƌŽĂŶ ƐĞďĂŐĂŝ ŬƵĂƐĂ ĂŶŬ ƵŶƚƵŬ ďĞƌƚŝŶĚĂŬ
ƐĞďĂŐĂŝƉĞŶŐĞůŽůĂĨĂƐŝůŝƚĂƐƐĞďĂŐĂŝŵĂŶĂĚŝĂƚƵƌĚĂůĂŵWĞƌũĂŶũŝĂŶŝŶŝ͘
- ^ŝĨĂƚWůĂĨŽŶ<ĞƌũĂƐĂŵĂ͗
^ŝĨĂƚƉůĂĨŽŶŬĞƌũĂƐĂŵĂƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂĂŶƚĂƌĂWĞƌƐĞƌŽĂŶĚĂŶĂŶŬĂĚĂůĂŚƌĞǀŽůǀŝŶŐ͘
- dƵũƵĂŶWĞŵďŝĂLJĂĂŶ͗
ĂŶŬ ĚĂŶ WĞƌƐĞƌŽĂŶ ĂŬĂŶ ŵĞŶLJĞĚŝĂŬĂŶ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ ĞƌƐĂŵĂ ƵŶƚƵŬ ŬĞƉĞƌůƵĂŶ
ƉĞŵďĞůŝĂŶ ŬĞŶĚĂƌĂĂŶ ŽůĞŚ ĞďŝƚƵƌ LJĂŶŐ ŵĞŵĞŶƵŚŝ ŬƌŝƚĞƌŝĂ ďĞƌĚĂƐĂƌŬĂŶ WĞƌũĂŶũŝĂŶ
WĞŵďŝĂLJĂĂŶ͘<ĞŶĚĂƌĂĂŶĚŝŵĂŬƐƵĚ͕LJĂŝƚƵŬĞŶĚĂƌĂĂŶƌŽĚĂĚƵĂ͕ƌŽĚĂĞŵƉĂƚĂƚĂƵůĞďŝŚLJĂŶŐ
ŵĞŵĞŶƵŚŝƉĞƌƐLJĂƌĂƚĂŶƉĞŵďŝĂLJĂĂŶLJĂŶŐĚŝďŝĂLJĂŝ;ĚŝŵĂŬƐƵĚŬĂŶĂŬĂŶĚŝďŝĂLJĂŝͿďĞƌĚĂƐĂƌŬĂŶ
WĞrjanjian Pembiayaan oleh Kreditur (“Kendaraan”).
- <ŽŵƉŽƐŝƐŝWĞŵďŝĂLJĂĂŶ͗
ϭͿ WŽƌƐŝWĞŵďŝĂLJĂĂŶĂŶŬƐĞďĞƐĂƌϵϵйĚĂƌŝũƵŵůĂŚ&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂŬĞƉĂĚĂ
ĞďŝƚƵƌ͖
ϮͿ WŽƌƐŝ WĞŵďŝĂLJĂĂŶ WĞƌƐĞƌŽĂŶ ƐĞďĞƐĂƌ ϭй ĚĂƌŝ ũƵŵůĂŚ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ ĞƌƐĂŵĂ
ŬĞƉĂĚĂĞďŝƚƵƌ͖
^ĞƐƵĂŝ ĚĞŶŐĂŶ ŶŝůĂŝ ƉĞŵďŝĂLJĂĂŶ ŬĞƉĂĚĂ ƉĂƌĂ ĞďŝƚƵƌ ďĞƌĚĂƐĂƌĂŬĂŶ ƉĞƌƐLJĂƌĂƚĂŶ ĚĂůĂŵ
ƉĞƌũĂŶũŝĂŶŝŶŝ͘
- :ĞŶŝƐWĞŵďŝĂLJĂĂŶ͗
:ĞŶŝƐƉĞŵďŝĂLJĂĂŶLJĂŶŐĚŝďĞƌŝŬĂŶŽůĞŚWĂƌĂ<ƌĞĚŝƚƵƌŬĞƉĂĚĂĞďŝƚƵƌĂĚĂůĂŚƐƵĂƚƵƉĞŵďŝĂLJĂĂŶ
ďĞƌƐĂŵĂĚŝŵĂŶĂWĂƌĂ<ƌĞĚŝƚƵƌƐĞƉĂŬĂƚƵŶƚƵŬŵĞŶƵŶũƵŬWĞŶŐĞůŽůĂ&ĂƐŝůŝƚĂƐͬWĞƌƐĞƌŽĂŶƐĞďĂŐĂŝ
ŬƵĂƐĂŵĞƌĞŬĂƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶƚƵŐĂƐͲƚƵŐĂƐWĞŶŐĞůŽůĂ&ĂƐŝůŝƚĂƐƐĞďĂŐĂŝŵĂŶĂĚŝĂƚƵƌĚĂůĂŵ
WĞƌũĂŶũŝĂŶŝŶŝ͘<ĞŐŝĂƚĂŶWĞŶŐĞůŽůĂ&ĂƐŝůŝƚĂƐĂĚĂůĂŚƐƵĂƚƵŬĞŐŝĂƚĂŶLJĂŶŐŝŶƚĞŐƌĂƐŝƉĂĚĂŬĞŐŝĂƚĂŶͲ
ŬĞŐŝĂƚĂŶƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂŽůĞŚWĂƌĂ<ƌĞĚŝƚƵƌ͘WĂƌĂWŝŚĂůƐĞƉĂŬĂƚĚĂŶŵĞŶŐĂŬƵŝďĂŚǁĂ
WĞƌƐĞƌŽĂŶ ĚĂŶ ĂŶŬ ƐĞďĂŐĂŝ ŬƌĞĚŝƚƵƌ ;ĚĂůĂŵ ŚĂů ŝŶŝ ĚŝǁĂŬŝůŝ ŽůĞŚ WĞŶŐĞůŽůĂ
&ĂƐŝůŝƚĂƐͬWĞƌƐĞƌŽĂŶͿĂŬĂŶŵĞŶŐĂĚĂŬĂŶWĞƌũĂŶũŝĂŶWĞŵďŝĂLJĂĂŶĚĞŶŐĂŶ ƉĞƌŽƌĂŶŐĂŶͬŝŶĚŝǀŝĚƵ
ĚĂŶďĂĚĂŶƵƐĂŚĂƐĞďĂŐĂŝ<ŽŶƐƵŵĞŶĚĂƌŝǁĂŬƚƵŬĞǁĂŬƚƵ͘
- :ĂŶŐŬĂtĂŬƚƵ͗
WĞƌũĂŶũŝĂŶŝŶŝďĞƌůĂŬƵƐĞůĂŵĂϯ;ƚŝŐĂͿƚĂŚƵŶƐĂŵƉĂŝĚĞŶŐĂŶƚĂŶŐŐĂůϮϵŐƵƐƚƵƐϮϬϮϱ͘
ĂůĂŵ:&^DƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƉĞŵďĂƚĂƐĂŶ;ŶĞŐĂƚŝǀĞĐŽǀĞŶĂŶƚƐͿLJĂŶŐ
ĚĂƉĂƚ͗;ĂͿŵĞŶŐŚĂůĂŶŐŝƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶWĞŶĂǁĂƌĂŶhŵƵŵKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/
dĂŚĂƉ/ĚĂŶĂƚĂƵ;ďͿŵĞŵďĂƚĂƐŝĚĂŶŵĞƌƵŐŝŬĂŶŬĞƉĞŶƚŝŶŐĂŶƐĞƌƚĂŚĂŬĚĂƌŝƉĂƌĂƉĞŵĞŐĂŶŐ
KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/ƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶŵĞŶŐĞŶĂŝŚĂŬĚĂƌŝƉĂƌĂ
ƉĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌŵĂŬƚƵď ĚĂůĂŵ WĞƌũĂŶũŝĂŶ
WĞƌǁĂůŝĂŵĂŶĂƚĂŶ͖ĚĂŶŬĂƌĞŶĂŶLJĂWĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶ
ƚĞƌƚƵůŝƐ ƚĞƌůĞďŝŚ ĚĂŚƵůƵ ŬĞƉĂĚĂ ĂŶŬ ƵŶƚƵŬ ŵĞůĂŬƐĂŶĂŬĂŶ WĞŶĂǁĂƌĂŶ hŵƵŵ KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
Ϯ͘Ϯ WĞƌƐĞƌŽĂŶ ĚĂŶ ĂŶŬ /D EŝĂŐĂ ƚĞůĂŚ ŵĞŶŐĂĚĂŬĂŶ ŬĞƌũĂƐĂŵĂ ƉĞŵďŝĂLJĂĂŶ ďĞƌƐĂŵĂ ďĞƌĚĂƐĂƌŬĂŶ
WĞƌũĂŶũŝĂŶ<ĞƌũĂƐĂŵĂĂůĂŵZĂŶŐŬĂWĞŵďĞƌŝĂŶ&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂEŽ͘ϰϯϳϵͬW<^ͬ:&ͬy//ͬϮϬϭϳ
ƚĂŶŐŐĂůϮ:ĂŶƵĂƌŝϮϬϭϴ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶ͕ƐĞůĂŶũƵƚŶLJĂŵĞŶŐĂůĂŵŝƉĞƌƵďĂŚĂŶƚĞƌĂŬŚŝƌďĞƌĚĂƐĂƌŬĂŶ
WĞƌƵďĂŚĂŶĚĂŶWĞƌŶLJĂƚĂĂŶ<ĞŵďĂůŝWĞƌũĂŶũŝĂŶ<ĞƌũĂƐĂŵĂĂůĂŵZĂŶŐŬĂWĞŵďĞƌŝĂŶ&ĂƐŝŝƚĂƐWĞŵďŝĂLJĂĂŶ
ĞƌƐĂŵĂ EŽ͘ ϰϯϳϵͬW<^ͬ:&ͬy//ͬϮϬϭϳ ƚĂŶŐŐĂů ϳ DĂƌĞƚ ϮϬϮϱ͕ ĚŝďƵĂƚ Ěŝ ďĂǁĂŚ ƚĂŶŐĂŶ ;ƐĞůĂŶũƵƚŶLJĂ ƐĂŵĂ
ĚŝƐĞďƵƚ“Perjanjian Pembiayaan Bersama Bank CIMB Niaga”Ϳ͘
ĞƌĚĂƐĂƌŬĂŶ WĞƌũĂŶũŝĂŶ WĞŵďŝĂLJĂĂŶ ĞƌƐĂŵĂ ĂŶŬ /D EŝĂŐĂ͕ ĂŶŬ /D EŝĂŐĂ ĚĂŶ WĞƌƐĞƌŽĂŶ
;“Kreditur”Ϳ ƐĞƚƵũƵͬƐĞƉĂŬĂƚ ƵŶƚƵŬ ŵĞůĂŬƵŬĂŶ ŬĞƌũĂƐĂŵĂ ƉĞŵďĞƌŝĂŶ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ ĞƌƐĂŵĂ
ŬĞƉĂĚĂ ĞďŝƚƵƌ ;ĞďŝƚƵƌ͕ LJĂŝƚƵ͗ ƉĞƌŽƌĂŶŐĂŶ LJĂŶŐ ŵĞŶĚĂƉĂƚŬĂŶ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ ĞƌƐĂŵĂ ĚĂƌŝ
<ƌĞĚŝƚƵƌďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶWĞŵďŝĂLJĂĂŶ<ŽŶƐƵŵĞŶƵŶƚƵŬƉĞŵďĞůŝĂŶŽďLJĞŬƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂ
ďĞƌƵƉĂŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌ;ƌŽĚĂϮĂƚĂƵƌŽĚĂϰͿĚĂůĂŵŬŽŶĚŝƐŝďĂƌƵŵĂƵƉƵŶďĞŬĂƐ͕ĚĞŶŐĂŶũĞŶŝƐŵŽďŝů͗
^ĞĚĂŶ͕ ^hs͕ DWs ĚĂŶ ŵŝŶŝďƵƐ ďƵĂƚĂŶ :ĞƉĂŶŐ͕ <ŽƌĞĂ͕ ŵĞƌŝŬĂ ĚĂŶ ƌŽƉĂͿ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ƐƚƌƵŬƚƵƌ
83
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ƉĞŵďŝĂLJĂĂŶ ƐĞďĂŐĂŝŵĂŶĂ LJĂŶŐ ĚŝĂƚƵƌ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ WĞŵďŝĂLJĂĂŶ ĞƌƐĂŵĂ ĂŶŬ /D EŝĂŐĂ ƐĞƌƚĂ
ƚƵŶĚƵŬƉĂĚĂƐĞůƵƌƵŚŬĞƚĞŶƚƵĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐƚĞůĂŚŵĂƵƉƵŶLJĂŶŐĂŬĂŶďĞƌůĂŬƵŬĞŵƵĚŝĂŶ
ďĞƌŬĂŝƚĂŶ ĚĞŶŐĂŶ ƉĞŵďĞƌŝĂŶ ĨĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ ĞƌƐĂŵĂ͘ ĂůĂŵ ŵĞŵďĞƌŝŬĂŶ &ĂƐŝůŝƚĂƐ WĞŵďŝĂLJĂĂŶ
ĞƌƐĂŵĂ͕ ĂŶŬ ŵĞŶƵŶũƵŬ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŵĞůĂŬƵŬĂŶ ƐĞŐĂůĂ ƚŝŶĚĂŬĂŶ ďĞƌŬĂŝƚĂŶ ĚĞŶŐĂŶ ƚƵŐĂƐ Θ
ƚĂŶŐŐƵŶŐũĂǁĂďŶLJĂƐĞůĂŬƵ<ƵĂƐĂĂŶŬƐĞďĂŐĂŝŵĂŶĂĚŝƚĞŶƚƵŬĂŶĚĂůĂŵWĞƌũĂŶũŝĂŶŝŶŝ͘
ĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂĂŶŬ/DEŝĂŐĂ͕ĂŶŬ/DEŝĂŐĂĚĂƌŝǁĂŬƚƵŬĞǁĂŬƚƵ
ƐĞůĂŵĂďĞƌůĂŶŐƐƵŶŐŶLJĂƉĞƌũĂŶũŝĂŶŝŶŝ͕ŵĞŵďĞƌŝŬĂŶ&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂŬĞƉĂĚĂĞďŝƚƵƌŵĞůĂůƵŝ
WĞƌƐĞƌŽĂŶƐĞůĂŬƵ<ƵĂƐĂĂŶŬĚĞŶŐĂŶũƵŵůĂŚƐĞƚŝŶŐŐŝͲƚŝŶŐŐŝŶLJĂƐĞďĞƐĂƌZƉϮϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ;ĚƵĂƌĂƚƵƐ
ŵŝůŝĂƌZƵƉŝĂŚͿ͕ĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
^ŝĨĂƚŬĞƌũĂƐĂŵĂƉĞŵďŝĂLJĂĂŶ͗ƌĞǀŽůǀŝŶŐ͘
Ă͘ ^ŝĨĂƚWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂLJĂŶŐĚŝďĞƌŝŬĂŶŬĞƉĂĚĂĞďŝƚƵƌĂĚĂůĂŚďĞƌƐŝĨĂƚ“On Liquidation”, yang
ďĞƌĂƌƚŝďĂŚǁĂĂƚĂƐĨĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂLJĂŶŐƚĞůĂŚĚŝƚĂƌŝŬǁĂũŝďĚŝůĂŬƵŬĂŶƉĞŵďĂLJĂƌĂŶ
ĂŶŐƐƵƌĂŶƐĞĐĂƌĂďƵůĂŶĂŶŚŝŶŐŐĂƐĞůƵƌƵŚƉŝŶũĂŵĂŶĞďŝƚƵƌŬĞƉĂĚĂ<ƌĞĚŝƚƵƌůƵŶĂƐ͘
ď͘ :ƵŵůĂŚƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂďĂŐŝƐĞƚŝĂƉĞďŝƚƵƌĂĚĂůĂŚŵĂŬƐŝŵĂůƐĞďĞƐĂƌZƉϮ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ĚƵĂ
ŵŝůŝĂƌZƵƉŝĂŚͿƵŶƚƵŬŵŽďŝůďĂƌƵͬďĞŬĂƐĚĂŶŵŝŶŝŵĂůZƉϳϱ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƚƵũƵŚƉƵůƵŚůŝŵĂũƵƚĂZƵƉŝĂŚͿ
ƵŶƚƵŬŵŽƚŽƌďĂƌƵͬďĞŬĂƐ͘
Đ͘ :ƵŵůĂŚƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂďĂŐŝƐĞƚŝĂƉĞďŝƚƵƌĂĚĂůĂŚŵĂŬƐŝŵĂůƐĞďĞƐĂƌZƉϱϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ůŝŵĂ
ƉƵůƵŚũƵƚĂZƵƉŝĂŚͿƵŶƚƵŬŵŽƚŽƌďĂƌƵ͘
Ě͘ WĞŶŐŐƵŶĂĂŶ ͗ WĞŵďŝĂLJĂĂŶŬƌĞĚŝƚŬĞƉĂĚĂĞďŝƚƵƌƵŶƚƵŬŬĞƉĞŵŝůŝŬĂŶŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌ͗
:ĞŶŝƐŬĞŶĚĂƌĂĂŶƌŽĚĂĞŵƉĂƚͬŵŽďŝů͕ŬŽŶĚŝƐŝĚĂŶŶĞŐĂƌĂƉĞŵďƵĂƚ͗
Ͳ:ĞŶŝƐŵŽďŝů͗^ĞĚĂŶ͕^hs͕DWs͕DŝŶŝďƵƐ
Ͳ<ĞŶĚĂƌĂĂŶďĂƌƵĚĂŶďĞŬĂƐ
ͲEĞŐĂƌĂƉĞŵďƵĂƚ͗:ĞƉĂŶŐ͕<ŽƌĞĂ͕ŵĞƌŝŬĂĚĂŶ ƌŽƉĂ
:ĞŶŝƐŬĞŶĚĂƌĂĂŶƌŽĚĂĚƵĂ͕ŬŽŶĚŝƐŝĚĂŶŶĞŐĂƌĂƉĞŵďƵĂƚ͗
ͲDŽƚŽƌĂƌƵ
ͲEĞŐĂƌĂƉĞŵďƵĂƚ͗:ĞƉĂŶŐ
Ğ͘ tŝůĂLJĂŚŬĞƌũĂƐĂŵĂ ͗tŝůĂLJĂŚ/ŶĚŽŶĞƐŝĂ͖
Ĩ͘ WŽƌƐŝWĞŵďŝĂLJĂĂŶ ͗ ͲĂŶŬ ͗ŵĂŬƐŝŵĂůϵϵй͖
ͲWĞƌƐĞƌŽĂŶ͗ŵŝŶŝŵĂůϭй͘
^ĞůĂŵĂ ďĞƌůĂŶŐƐƵŶŐŶLJĂ WĞƌũĂŶũŝĂŶ WĞŵďŝĂLJĂĂŶ ĞƌƐĂŵĂ ĂŶŬ /D EŝĂŐĂ͕ <ƌĞĚŝƚƵƌ ƐĞƚƵũƵ ƵŶƚƵŬ
ŵĞŵďĞƌŝŬĂŶ&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂŬĞƉĂĚĂĞďŝƚƵƌƐĞƐƵĂŝƐƚƌƵŬƚƵƌƉĞŵďŝĂLJĂĂŶĚĂŶŬĞƚĞŶƚƵĂŶͲ
ŬĞƚĞŶƚƵĂŶůĂŝŶĚĂůĂŵWĞƌũĂŶũŝĂŶ͕ĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Ă͘ DĂŬƐŝŵƵŵ ůŽĂŶ ƚŽ ǀĂůƵĞ ƵŶƚƵŬ ƉĞŵďŝĂLJĂĂŶ ŵŽďŝů ŬŽŵĞƌƐŝůͬƉƌŽĚƵŬƚŝĨ ƐĞďĞƐĂƌ ϵϬй͕ ĚĂŶ ƵŶƚƵŬ
ŵŽďŝů ƉĞŶƵŵƉĂŶŐͬŶŽŶ ƉƌŽĚƵŬƚŝĨ ƐĞďĞƐĂƌ ϴϱй ĚĂƌŝ ŚĂƌŐĂ ŬĞŶĚĂƌĂĂŶ ;ŽŶ ƚŚĞ ƌŽĂĚͿ ƵŶƚƵŬ
ŬĞŶĚĂƌĂĂŶďĂƌƵĚĂŶĂƚĂƵĚĂƌŝƉĞŶŝůĂŝĂŶWĞƌƐĞƌŽĂŶƵŶƚƵŬŬĞŶĚĂƌĂĂŶŵŽďŝůďĞŬĂƐ͖
ď͘ hŶƚƵŬ ƉĞŵďŝĂLJĂĂŶ ŵŽƚŽƌ͕ ŵĂŬƐŝŵƵŵ >ds ƐĞďĞƐĂƌ ϴϱй ;ĚĞůĂƉĂŶ ƉƵůƵŚ ůŝŵĂ ƉĞƌƐĞŶͿ ĚĂƌŝ ĚĂƌŝ
ŚĂƌŐĂŬĞŶĚĂƌĂĂŶ;ŽŶƚŚĞƌŽĂĚͿ͖
^ĞƚŝĂƉ WĞƌũĂŶũŝĂŶ WĞŵďŝĂLJĂĂŶ <ŽŶƐƵŵĞŶ͕ ĂŬĂŶ ĚŝďƵĂƚ ĚĂŶ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ WĞƌƐĞƌŽĂŶ ;ĚĂůĂŵ
ŬĞĚƵĚƵŬĂŶ ƵŶƚƵŬ ĚŝƌŝŶLJĂ ƐĞŶĚŝƌŝ ĚĂŶ ƐĞůĂŬƵ <ƵĂƐĂ ĂŶŬ /D EŝĂŐĂͿ ĚĞŶŐĂŶ ĞďŝƚƵƌ ƐĞƐƵĂŝ ĚĞŶŐĂŶ
ŬĞƚĞŶƚƵĂŶ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ ĚĂŶ ĚĞŶŐĂŶ ƚŝĚĂŬ ďĞƌƚĞŶƚĂŶŐĂŶ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ ƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ
LJĂŶŐďĞƌůĂŬƵ͘<ĞƌũĂŵĂWĞŵďĞƌŝĂŶ&ĂƐŝůŝƚĂƐWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂĚŝůĂŬƵŬĂŶĚŝƐĞůƵƌƵŚǁŝůĂLJĂŚĚŝ/ŶĚŽŶĞƐŝĂ
LJĂŶŐƚĞƌĚĂƉĂƚĐĂďĂŶŐWĞƌƐĞƌŽĂŶ͘
:ĂŶŐŬĂtĂŬƚƵ<ĞƌũĂƐĂŵĂ͗
<ĞƌũĂƐĂŵĂďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶŝŶŝďĞƌůĂŬƵƐĂŵƉĂŝĚĞŶŐĂŶƚĂŶŐŐĂůϳDĂƌĞƚϮϬϮϲ͕ĂĚĂƉƵŶŬĞƚĞŶƚƵĂŶ
ũĂŶŐŬĂǁĂŬƚƵŬĞƌũĂƐĂŵĂ͕ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Ă͘ ĂŶŬďĞƌŚĂŬĚĂŶĂŬĂŶŵĞůĂŬƵŬĂŶĞǀĂůƵĂƐŝĂƚĂƐƌĞĂůŝƐĂƐŝŬĞƌũĂƐĂŵĂŝŶŝƐĞĚŝŬŝƚŶLJĂƐĞƚŝĂƉƐĞƚĂŚƵŶ
ƐĞŬĂůŝ͘
ď͘ :ĂŶŐŬĂǁĂŬƚƵƉĞŶĂƌŝŬĂŶĨĂƐŝůŝƚĂƐƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂ;ǀĂŝůĂďŝůŝƚLJWĞƌŝŽĚͿĂĚĂůĂŚƐĂŵƉĂŝĚĞŶŐĂŶ
ƚĂŶŐŐĂůϯ:ĂŶƵĂƌŝϮϬϮϲ͘:ĂŶŐŬĂǁĂŬƚƵĚĂƉĂƚĚŝƉĞƌƉĂŶũĂŶŐĚĞŶŐĂŶƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐĚĂƌŝĂŶŬ
/D EŝĂŐĂ ƐĞƚĞůĂŚ ŵĞŵƉĞƌƚŝŵďĂŶŐŬĂŶ ƉĞƌŵŽŚŽŶ ƚĞƌƚƵůŝƐ ĚĂƌŝ WĞƌƐĞƌŽĂŶ͘ WĞƌƐĞƚƵũƵĂŶ
ŵĞƌƵƉĂŬĂŶƐĂƚƵŬĞƐĂƚƵĂŶĚĂƌŝWĞƌũĂŶũŝĂŶŝŶŝ͘
84
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PT INDOMOBIL FINANCE INDONESIA
Đ͘ WĞƌũĂŶũŝĂŶĚĂƉĂƚĚŝƉĞƌƉĂŶũĂŶŐƐĞŵĞŶƚĂƌĂϯ;ƚŝŐĂͿďƵůĂŶ͕ƚĂŶƉĂŵĞŶŐƵďĂŚƐLJĂƌĂƚĚĂŶŬĞƚĞŶƚƵĂŶ
LJĂŶŐ ďĞƌůĂŬƵ ƐĂĂƚ ŝŶŝ͘ WĞƌƉĂŶũĂŶŐĂŶ ƐĞŵĞŶƚĂƌĂ ĚĂƉĂƚ ĚŝůĂŬƵŬĂŶ ĚĞŶŐĂŶ ŵĞŶŐŐƵŶĂŬĂŶ ^ƵƌĂƚ
WĞŵďĞƌŝƚĂŚƵĂŶ WĞƌƉĂŶũĂŶŐĂŶ ^ĞŵĞŶƚĂƌĂ LJĂŶŐ Ěŝ ŬĞůƵĂƌŬĂŶ ŽůĞŚ ĂŶŬ ĚĂŶ ĚŝƐĞƚƵũƵŝ ŽůĞŚ
WĞƌƐĞƌŽĂŶ͘
Ě͘ ,ĂŬĚĂŶŬĞǁĂũŝďĂŶWĂƌĂWŝŚĂŬďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶWĞŵďŝĂLJĂĂŶĞƌƐĂŵĂĂŶŬ/DEŝĂŐĂŝŶŝ
ƚĞƚĂƉďĞƌůĂŬƵĚĂŶŵĞŶŐŝŬĂƚŚŝŶŐŐĂƐĞůƵƌƵŚŬĞǁĂũŝďĂŶƉĞŵďĂLJĂƌĂŶĞďŝƚƵƌďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶ
WĞŵďŝĂLJĂĂŶ <ŽŶƐƵŵĞŶ ƚĞůĂŚ ďĞƌĂŬŚŝƌ ƐĞĐĂƌĂ ŚƵŬƵŵ ĂƚĂƵ ƚĞůĂŚ ĚŝƐĞůĞƐĂŝŬĂŶ ĚĞŶŐĂŶ ĐĂƌĂ ;ŝͿ
ƉĞůƵŶĂƐĂŶŽůĞŚĞďŝƚƵƌ͖ĂƚĂƵ;ŝŝͿƉĞŶũƵĂůĂŶKďũĞŬWĞŵďŝĂLJĂĂŶ;ďĂŝŬŚĂƐŝůƉĞŶũƵĂůĂŶŵĞŵĞŶƵŚŝ
ŶŝůĂŝƉĞůƵŶĂƐĂŶŵĂƵƉƵŶƚŝĚĂŬͿ͖ĂƚĂƵ;ŝŝŝͿƉĞŶĐĂŝƌĂŶŬůĂŝŵĂƐƵƌĂŶƐŝĂƚĂƐKďũĞŬWĞŵďŝLJĂĂŶ;ďĂŝŬŶŝůĂŝ
ƉĞŶĐĂŝƌĂŶ ŬůĂŝŵ ŵĞŵĞŶƵŚŝ ŶŝůĂŝ ƉĞůƵŶĂƐĂŶ ŵĂƵƉƵŶ ƚŝĚĂŬͿ͖ ĂƚĂƵ ;ŝǀͿ ƚĞůĂŚ ,ĂƉƵƐ ƵŬƵ ŬĞĐƵĂůŝ
ƚĞƌĚĂƉĂƚƉĞŵďĂLJĂƌĂŶĚĂƌŝĞďŝƚƵƌĚŝŬĞŵƵĚŝĂŶŚĂƌŝ͘
ĂůĂŵ WĞƌũĂŶũŝĂŶ WĞŵďŝĂLJĂĂŶ ĞƌƐĂŵĂ ĂŶŬ /D EŝĂŐĂ͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ ƉĞŵďĂƚĂƐĂŶ
;ŶĞŐĂƚŝǀĞĐŽǀĞŶĂŶƚƐͿLJĂŶŐĚĂƉĂƚ͗;ŝͿŵĞŶŐŚĂůĂŶŐŝƉĞŶĞƌďŝƚĂŶͬƉĞůĂŬƐĂŶĂĂŶWhKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ
/ ĚĂŶ ƌĞŶĐĂŶĂ ƉĞŶŐŐƵŶĂĂŶ ĚĂŶĂ ŚĂƐŝů Wh KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ / ĚĂŶͬĂƚĂƵ͖ ;ďͿ ŵĞŵďĂƚĂƐŝ ĚĂŶ
ŵĞƌƵŐŝŬĂŶ ŬĞƉĞŶƚŝŶŐĂŶ ƐĞƌƚĂ ŚĂŬ ĚĂƌŝ ƉĂƌĂ ƉĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ dĂŚĂƉ /͖ ĚĂŶ ŬĂƌĞŶĂŶLJĂ
WĞƌƐĞƌŽĂŶƚŝĚĂŬďĞƌŬĞǁĂũŝďĂŶƵŶƚƵŬŵĞŵŝŶƚĂƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐƚĞƌůĞďŝŚĚĂŚƵůƵŬĞƉĂĚĂ/DEŝĂŐĂƵŶƚƵŬ
ŵĞůĂŬƐĂŶĂŬĂŶWĞŶĂǁĂƌĂŶhŵƵŵKďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/dĂŚĂƉ/͘
ϯ͘ WĞƌũĂŶũŝĂŶͲƉĞƌũĂŶũŝĂŶ>ĂŝŶŶLJĂhŶƚƵŬDĞŶƵŶũĂŶŐ<ĞŐŝĂƚĂŶhƐĂŚĂWĞƌƐĞƌŽĂŶ
ϯ͘ϭ WĞƌũĂŶũŝĂŶ<ĞƌũĂƐĂŵĂ>ĂLJĂŶĂŶƵƚŽĞďĞƚWĞŵďĂLJĂƌĂŶŶŐƐƵƌĂŶ<ŽŶƐƵŵĞŶŶƚĂƌĂWdĂŶŬDĂŶĚŝƌŝ
(Persero) Tbk (“Pihak Kedua”) dengan PT Indomobil Finance Indonesia (“Perseroan”)
No. DIR.PKS/062/2010 tanggal 4 Oktober 2010, dibuat di bawah tangan (selanjutnya disebut “PKS ƵƚŽ
ĞďĞƚMandiri”).
WŽŬŽŬWĞƌũĂŶũŝĂŶ͗
WĂƌĂWŝŚĂŬƐĞůĂŶũƵƚŶLJĂŵĞŶĞƌĂŶŐŬĂŶůĞďŝŚĚĂŚƵůƵďĂŚǁĂĚĂůĂŵƌĂŶŐŬĂŵĞŵďĞƌŝŬĂŶŬĞŵƵĚĂŚĂŶďĂŐŝ
ŶĂƐĂďĂŚWŝŚĂŬ<ĞĚƵĂLJĂŶŐũƵŐĂĂĚĂůĂŚŬŽŶƐƵŵĞŶWĞƌƐĞƌŽĂŶĚĂůĂŵŵĞůĂŬƵŬĂŶƉĞŵďĂLJĂƌĂŶĂŶŐƐƵƌĂŶ
ŬŽŶƐƵŵĞŶ͕ ŵĂŬĂ WŝŚĂŬ <ĞĚƵĂ ĚĂŶ WĞƌƐĞƌŽĂŶ ďĞƌŵĂŬƐƵĚ ŵĞŶŐĂĚĂŬĂŶ ƉĞƌũĂŶũŝĂŶ ŬĞƌũĂƐĂŵĂ ĚĂůĂŵ
ƉĞŵďĂLJĂƌĂŶĂŶŐƐƵƌĂŶŬŽŶƐƵŵĞŶĚĞŶŐĂŶĐĂƌĂŵĞŶĚĞďĞƚƌĞŬĞŶŝŶŐ;ƵƚŽĞďĞƚͿŬŽŶƐƵŵĞŶWĞƌƐĞƌŽĂŶ
LJĂŶŐĂĚĂƉĂĚĂWŝŚĂŬ<ĞĚƵĂ͘
ZƵĂŶŐ>ŝŶŐŬƵƉ<ĞƌũĂƐĂŵĂ͗
ϭ͘ hŶƚƵŬŵĞŶŝŶŐŬĂƚŬĂŶƉĞůĂLJĂŶĂŶĚĂŶŵĞŵƉĞƌŵƵĚĂŚŬŽŶƐƵŵĞŶWĞƌƐĞƌŽĂŶĚĂůĂŵŵĞůĂŬƵŬĂŶ
ƉĞŵďĂLJĂƌĂŶŶŐƐƵƌĂŶ<ŽŶƐƵŵĞŶ͕ŵĂŬĂWĞƌƐĞƌŽĂŶĚĂŶWŝŚĂŬ<ĞĚƵĂƐĞƉĂŬĂƚŵĞůĂŬƵŬĂŶŬĞƌũĂ
ƐĂŵĂĚĂůĂŵŚĂůƉĞŶĞƌŝŵĂĂŶƉĞŵďĂLJĂƌĂŶŶŐƐƵƌĂŶ<ŽŶƐƵŵĞŶŵĞůĂůƵŝůĂLJĂŶĂŶƵƚŽĞďĞƚ͘
Ϯ͘ WŝŚĂŬ<ĞĚƵĂĂŬĂŶŵĞŶLJĞĚŝĂŬĂŶůĂLJĂŶĂŶƵƚŽĞďĞƚŵĞůĂůƵŝƐŝƐƚĞŵDĂŶĚŝƌŝĂƐŚDĂŶĂŐĞŵĞŶƚ
DĂŶĚŝƌŝƐĞďĂŐĂŝŵĂŶĂLJĂŶŐĚŝĂƚƵƌƉĂĚĂWĂƐĂůϯW<^ƵƚŽĞďĞƚDĂŶĚŝƌŝŝŶŝ͘
:ĂŶŐŬĂtĂŬƚƵĚĂŶWĞŶŐĂŬŚŝƌĂŶW<^ƵƚŽĞďĞƚDĂŶĚŝƌŝ͗
ϭ͘ W<^ ƵƚŽ ĞďĞƚ DĂŶĚŝƌŝ ŝŶŝ ďĞƌůĂŬƵ ƵŶƚƵŬ ϯ ;ƚŝŐĂͿ ƚĂŚƵŶ LJĂŶŐ ĚŝŵƵůĂŝ ƐĞũĂŬ ƚĂŶŐŐĂů
ĚŝƚĂŶĚĂƚĂŶŐĂŶŝŶLJĂ W<^ ƵƚŽ ĞďĞƚ DĂŶĚŝƌŝ ĚĂŶ ĂŬĂŶ ĚŝƉĞƌƉĂŶũĂŶŐ ƐĞĐĂƌĂ ŽƚŽŵĂƚŝƐ ƵŶƚƵŬ
ƐĞƚŝĂƉϭ;ƐĂƚƵͿƚĂŚƵŶďĞƌŝŬƵƚŶLJĂ͕ƐĞƉĂŶũĂŶŐƚŝĚĂŬĂĚĂƉĞŵďĞƌŝƚĂŚƵĂŶƚĞƌƚƵůŝƐĚĂƌŝWĂƌĂWŝŚĂŬ
ƵŶƚƵŬŵĞŶŐĂŬŚŝƌŝW<^ƵƚŽĞďĞƚDĂŶĚŝƌŝŝŶŝ͘
Ϯ͘ ĂůĂŵ ŚĂů ƐĂůĂŚ ƐĂƚƵ ƉŝŚĂŬ ŵĞŶŐŝŶŐŝŶŬĂŶ ƵŶƚƵŬ ŵĞŶŐĂŬŚŝƌŝ W<^ ƵƚŽ ĞďĞƚ DĂŶĚŝƌŝ ŝŶŝ
ƐĞďĞůƵŵ ũĂŶŐŬĂ ǁĂŬƚƵ ƐĞďĂŐĂŝŵĂŶĂ ĚŝŵĂŬƐƵĚ ĚĂůĂŵ LJĂƚ ;ϭͿ WĂƐĂů ŝŶŝ͕ ŵĂŬĂ ƉŝŚĂŬ LJĂŶŐ
ŵĞŶŐŚĞŶĚĂŬŝƉĞŶŐĂŬŚŝƌĂŶǁĂũŝďŵĞŶLJĂŵƉĂŝŬĂŶƉĞŵďĞƌŝƚĂŚƵĂŶƐĞĐĂƌĂƚĞƌƚƵůŝƐŬĞƉĂĚĂƉŝŚĂŬ
ůĂŝŶŶLJĂ ƐĞŬƵƌĂŶŐͲŬƵƌĂŶŐŶLJĂ ĚĂůĂŵ ũĂŶŐŬĂ ǁĂŬƚƵ ϲϬ ;ĞŶĂŵ ƉƵůƵŚͿ ŚĂƌŝ ŬĂůĞŶĚĞƌ ƐĞďĞůƵŵ
ƚĂŶŐŐĂů ƉĞŶŐĂŬŚŝƌĂŶ W<^ ƵƚŽ ĞďĞƚ DĂŶĚŝƌŝ LJĂŶŐ ĚŝŬĞŚĞŶĚĂŬŝ ŽůĞŚ ƐĂůĂŚ ƐĂƚƵ ƉŝŚĂŬ
ĚŝŵĂŬƐƵĚ͘
ϯ͘ ƉĂďŝůĂƐĂůĂŚƐĂƚƵƉŝŚĂŬŵĞůĂŶŐŐĂƌŬĞƚĞŶƚƵĂŶĚĂůĂŵW<^ƵƚŽĞďĞƚDĂŶĚŝƌŝŝŶŝ͕ŵĂŬĂƉŝŚĂŬ
LJĂŶŐƚŝĚĂŬŵĞůĂŬƵŬĂŶƉĞůĂŶŐŐĂƌĂŶďĞƌŚĂŬŵĞŵďĞƌŝŬĂŶƉĞƌŝŶŐĂƚĂŶƚĞƌƚƵůŝƐŬĞƉĂĚĂƉŝŚĂŬLJĂŶŐ
ŵĞůĂŬƵŬĂŶ ƉĞůĂŶŐŐĂƌĂŶ ƐĞďĂŶLJĂŬ ϯ ;ƚŝŐĂͿ ŬĂůŝ ďĞƌƚƵƌƵƚͲƚƵƌƵƚ ĚĞŶŐĂŶ ŵĂƐŝŶŐͲŵĂƐŝŶŐ ũĂƌĂŬ
ǁĂŬƚƵ ƉĞƌŝŶŐĂƚĂŶ ϳ ;ƚƵũƵŚͿ ŚĂƌŝ ŬĂůĞŶĚĞƌ͘ ƉĂďŝůĂ ƐĞƚĞůĂŚ ƉĞƌŝŶŐĂƚĂŶ LJĂŶŐ ŬĞƚŝŐĂ ƚĞƌŶLJĂƚĂ
ƉŝŚĂŬLJĂŶŐŵĞůĂŬƵŬĂŶƉĞůĂŶŐŐĂƌĂŶďĞůƵŵŵĞůĂŬƵŬĂŶƉĞƌďĂŝŬĂŶĂƚĂƵƉĞŵĞŶƵŚĂŶŬĞƚĞŶƚƵĂŶ
LJĂŶŐĚŝůĂŶŐŐĂƌŵĂŬĂƉŝŚĂŬLJĂŶŐŵĞŶĞƌďŝƚŬĂŶƐƵƌĂƚƉĞƌŝŶŐĂƚĂŶďĞƌŚĂŬƵŶƚƵŬŵĞŶŐĂŬŚŝƌŝW<^
ƵƚŽĞďĞƚDĂŶĚŝƌŝŝŶŝ͘
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ϰ͘ WĞŶŐĂŬŚŝƌĂŶ W<^ ƵƚŽ ĞďĞƚ DĂŶĚŝƌŝ ŝŶŝ ƚŝĚĂŬ ŵĞŶŐŚĂƉƵƐ ŬĞǁĂũŝďĂŶ ŵĂƐŝŶŐͲŵĂƐŝŶŐ ƉŝŚĂŬ
ƵŶƚƵŬ ŵĞŶLJĞůĞƐĂŝŬĂŶ ŬĞǁĂũŝďĂŶŶLJĂ͕ ǁĂůĂƵƉƵŶ ƐĂůĂŚ ƐĂƚƵ ƉŝŚĂŬ ďĞƌĂĚĂ ĚĂůĂŵ ŬĞĂĚĂĂŶ
ůŝŬƵŝĚĂƐŝĚĂŶͬĂƚĂƵŵĞƌŐĞƌ͕ƐĂŵƉĂŝŬĞǁĂũŝďĂŶƚĞƌƐĞďƵƚĚŝŶLJĂƚĂŬĂŶƐĞůĞƐĂŝƐĞĐĂƌĂƚĞƌƚƵůŝƐLJĂŶŐ
ĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚWĂƌĂWŝŚĂŬ͘
ϱ͘ ŬŝďĂƚƉĞŶŐĂŬŚŝƌĂŶW<^ƵƚŽĞďĞƚDĂŶĚŝƌŝŵĂŬĂWĞƌƐĞƌŽĂŶǁĂũŝďŵĞŶLJĞƌĂŚŬĂŶƐĞůƵƌƵŚĂƐůŝ
^ƵƌĂƚ<ƵĂƐĂĚĂŶWĞƌŶLJĂƚĂĂŶWĞŵŝůŝŬZĞŬĞŶŝŶŐŬĞƉĂĚĂWŝŚĂŬ<ĞĚƵĂ͘dĞƌŬĂŝƚŚĂůŝŶŝŵĂŬĂƐĞũĂŬ
ƚĂŶŐŐĂůƉĞŶŐĂŬŚŝƌĂŶW<ƵƚŽĞďĞƚWŝŚĂŬ<ĞĚƵĂďĞƌŚĂŬŵĞŶŐŚĞŶƚŝŬĂŶƉĞůĂŬƐĂŶĂĂŶŝŶƐƚƌƵŬƐŝ
ĚĂůĂŵ^ƵƌĂƚ<ƵĂƐĂĚĂŶWĞƌŶLJĂƚĂĂŶWĞŵŝůŝŬZĞŬĞŶŝŶŐ͘
ϲ͘ WĂƌĂ WŝŚĂŬ ƐĞƚƵũƵ ƵŶƚƵŬ ŵĞŶŐĞƐĂŵƉŝŶŐŬĂŶ ďĞƌůĂŬƵŶLJĂ ŬĞƚĞŶƚƵĂŶ ĚĂůĂŵ WĂƐĂů ϭϮϲϲ <ŝƚĂď
hŶĚĂŶŐͲhŶĚĂŶŐ WĞƌĚĂƚĂ ƐĞƉĂŶũĂŶŐ ŵĞŶLJĂŶŐŬƵƚ ĚŝƉĞƌůƵŬĂŶŶLJĂ ƉƵƚƵƐĂŶ ƉĞŶŐĂĚŝůĂŶ ƵŶƚƵŬ
ŵĞŶŐĂŬŚŝƌŝW<^ƵƚŽĞďĞƚDĂŶĚŝƌŝŝŶŝ͘
^ĞůĂŶũƵƚŶLJĂ͕ƐĂŵƉĂŝĚĞŶŐĂŶĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝ͕W<^ ƵƚŽĞďĞƚDĂŶĚŝƌŝƚĞƌƐĞďƵƚĚŝĂƚĂƐ
ŵĂƐŝŚŵĞŶŐŝŬĂƚĚĂŶďĞƌůĂŬƵďĂŐŝWĂƌĂWŝŚĂŬ͘
ϯ͘Ϯ WĞƌũĂŶũŝĂŶ<ĞƌũĂƐĂŵĂWĞŶĞƌŝŵĂĂŶWĞŵďĂLJĂƌĂŶŶŐƐƵƌĂŶ<ŽŶƐƵŵĞŶEŽ͘ϬϭϲͬW<^ͬͬϮϬϬϴƚĂŶŐŐĂů
ϲDĞŝϮϬϬϴ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶĂŶƚĂƌĂWdĂŶŬĞŶƚƌĂůƐŝĂdbk (“BCA”) dengan PT Indomobil
Finance Indonesia (“Perseroan”) (selanjutnya disebut “PKS BCA”).
ZƵĂŶŐ>ŝŶŐŬƵƉ<ĞƌũĂƐĂŵĂ͗
ƐĞƉĂŬĂƚ ĂŬĂŶ ŵĞŶLJĞĚŝĂŬĂŶ ĨĂƐŝůŝƚĂƐ ƉĞŶĞƌŝŵĂĂŶ ƚƌĂŶƐĂŬƐŝ ƉĞŵďĂLJĂƌĂŶ ĂŶŐƐƵƌĂŶ ŬŽŶƐƵŵĞŶ
kepada Perseroan (“Transaksi”) dengan ŵĞŶŐŐƵŶĂŬĂŶƌĞŬĞŶŝŶŐŬŚƵƐƵƐLJĂŶŐĚŝďĞƌŝŬĂŶƉĂĚĂŬŽŶƐƵŵĞŶ
WĞƌƐĞƌŽĂŶƵŶƚƵŬĚŝŐƵŶĂŬĂŶƐĞďĂŐĂŝƐĂƌĂŶĂƉĞŵďĂLJĂƌĂŶƚĂŐŝŚĂŶŬĞƉĂĚĂWĞƌƐĞƌŽĂŶĚĞŶŐĂŶĐĂƌĂƐĞƚŽƌ
tunai atau pemindahbukuan ke rekening tersebut (“Virtual Account”) dengan mekanisme sebagaimana
ĚŝĂƚƵƌĚĂůĂŵW<^͘
:ĂŶŐŬĂtĂŬƚƵ͗
W<^ ŝŶŝ ďĞƌůĂŬƵ ƚĞƌŚŝƚƵŶŐ ƐĞũĂŬ ƚĂŶŐŐĂů ĚŝƚĂŶĚĂƚĂŶŐĂŶŝŶLJĂ W<^ ŝŶŝ ƐĂŵƉĂŝ ĚĞŶŐĂŶ ĂĚĂŶLJĂ
ƉĞŶŐĂŬŚŝƌĂŶƐĞĐĂƌĂƚĞƌƚƵůŝƐĚĂƌŝWĂƌĂWŝŚĂŬ͘
^ĞůĂŶũƵƚŶLJĂ͕ƐĂŵƉĂŝĚĞŶŐĂŶĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝ͕W<^ŝŶŝŵĂƐŝŚŵĞŶŐŝŬĂƚĚĂŶďĞƌůĂŬƵďĂŐŝ
WĂƌĂWŝŚĂŬ͘
ddE͗
dĞƌĚĂƉĂƚ ŬůĂƵƐƵů ŬĞƌĂŚĂƐŝĂĂŶ ĚĂůĂŵ W<^ ƚĞƌƐĞďƵƚ Ěŝ ĂƚĂƐ͕ ĚĞŶŐĂŶ ĚĞŵŝŬŝĂŶ ŬĂŵŝ ƚŝĚĂŬ ĚĂƉĂƚ
ŵĞŶŐƵƌĂŝŬĂŶůĞďŝŚůĂŶũƵƚƚĞƌŚĂĚĂƉŬůĂƵƐƵůͲŬůĂƵƐƵůůĂŝŶŶLJĂƐĞďĂŐĂŝŵĂŶĂĚŝĂƚƵƌĚĂůĂŵW<^͘
ϯ͘ϯ WĞƌũĂŶũŝĂŶ<ĞƌũĂƐĂŵĂAntara PT Indomobil Finance Indonesia (“Perseroan”) dengan PT Bank Mandiri
(Persero) Tbk (“Mandiri”) Tentang Penerimaan Pembayaran Dengan Menggunakan Mandiri KƉĞŶ
WĂLJŵĞŶƚEŽ͘WdĂŶŬDĂŶĚŝƌŝ;WĞƌƐĞƌŽͿdďŬ͗/Z͘W<^ͬϮϴͬϮϬϬϵƚĂŶŐŐĂůϮϱ:ƵŶŝϮϬϬϵ͕ĚŝďƵĂƚĚŝďĂǁĂŚ
tangan (selanjutnya disebut “PKS KƉĞŶ WĂLJŵĞŶƚ Mandiri”), dan terakhir telah diubah berdasarkan
WĞƌƵďĂŚĂŶ WĞƌũĂŶũŝĂŶ <ĞƌũĂƐĂŵĂ ŶƚĂƌĂ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ ĚĞŶŐĂŶ Wd ĂŶŬ DĂŶĚŝƌŝ
;WĞƌƐĞƌŽͿ dďŬ dĞŶƚĂŶŐ WĞŶĞƌŝŵĂĂŶ WĞŵďĂLJĂƌĂŶ ĞŶŐĂŶ DĞŶŐŐƵŶĂŬĂŶ DĂŶĚŝƌŝ KƉĞŶ WĂLJŵĞŶƚ
No. PT Bank Mandiri (Persero) Tbk: DIR.PKS/28/2009 tanggal 7 Mei 2012 (selanjutnya disebut “PKS
Open Payment Mandiri”).
ZƵĂŶŐ>ŝŶŐŬƵƉ<ĞƌũĂƐĂŵĂ͗
WĂƌĂWŝŚĂŬƚĞůĂŚƐĞƉĂŬĂƚƵŶƚƵŬŵĞůĂŬƵŬĂŶŬĞƌũĂƐĂŵĂ͕ĚŝŵĂŶĂWĞƌƐĞƌŽĂŶĚĂůĂŵƌĂŶŐŬĂŵĞŵƉĞƌŵƵĚĂŚ
ĚĂŶŵĞŵƉĞƌĐĞƉĂƚƌĞŬŽŶƐŝůŝĂƐŝƚƌĂŶƐĂŬƐŝƉĞŶĞƌŝŵĂĂŶƉĞŵďĂLJĂƌĂŶĂŶŐƐƵƌĂŶĚĂƌŝ<ŽŶƐƵŵĞŶWĞƌƐĞƌŽĂŶ͕
WĞƌƐĞƌŽĂŶďĞƌŵĂŬƐƵĚŵĞŵĂŶĨĂĂƚŬĂŶĨĂƐŝůŝƚĂƐůĂLJĂŶĂŶDĂŶĚŝƌŝKƉĞŶWĂLJŵĞŶƚ͘
:ĂŶŐŬĂtĂŬƚƵWĞƌũĂŶũŝĂŶ͗
W<^KƉĞŶWĂLJŵĞŶƚDĂŶĚŝƌŝŝŶŝďĞƌůĂŬƵƐĞůĂŵĂϯ;ƚŝŐĂͿƚĂŚƵŶƚĞƌŚŝƚƵŶŐƐĞũĂŬƚĂŶŐŐĂůϮϱ:ƵŶŝϮϬϭϭ͕ĚĂŶ
ĂƉĂďŝůĂWĂƌĂWŝŚĂŬĚĂůĂŵW<^KƉĞŶWĂLJŵĞŶƚDĂŶĚŝƌŝŝŶŝƚŝĚĂŬŵĞŶŐĞŵƵŬĂŬĂŶŵĂŬƐƵĚŵĞƌĞŬĂƐĞĐĂƌĂ
ƚĞƌƚƵůŝƐƵŶƚƵŬŵĞŶŐĂŬŚŝƌŝƉĞƌũĂŶũŝĂŶŝŶŝ͕ŵĂŬĂƉĞƌũĂŶũŝĂŶŝŶŝĚŝƉĞƌƉĂŶũĂŶŐƐĞĐĂƌĂŽƚŽŵĂƚŝƐƵŶƚƵŬƐĞƚŝĂƉ
ϭ;ƐĂƚƵͿƚĂŚƵŶďĞƌŝŬƵƚŶLJĂ͘
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^ĞůĂŶũƵƚŶLJĂ͕ƐĂŵƉĂŝĚĞŶŐĂŶĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝ͕W<^ƵƚŽĞďĞƚDĂŶĚŝƌŝŝŶŝŵĂƐŝŚŵĞŶŐŝŬĂƚ
ĚĂŶďĞƌůĂŬƵďĂŐŝWĂƌĂWŝŚĂŬ͘
ddE͗
dĞƌĚĂƉĂƚ ŬůĂƵƐƵů ŬĞƌĂŚĂƐŝĂĂŶ ĚĂůĂŵW<^ KƉĞŶ WĂLJŵĞŶƚ DĂŶĚŝƌŝ ƚĞƌƐĞďƵƚ ĚŝĂƚĂƐ͕ ĚĞŶŐĂŶ ĚĞŵŝŬŝĂŶ
ŬĂŵŝƚŝĚĂŬĚĂƉĂƚŵĞŶŐƵƌĂŝŬĂŶůĞďŝŚůĂŶũƵƚƚĞƌŚĂĚĂƉŬůĂƵƐƵůͲŬůĂƵƐƵůůĂŝŶŶLJĂƐĞďĂŐĂŝŵĂŶĂĚŝĂƚƵƌĚĂůĂŵ
W<^KƉĞŶWĂLJŵĞŶƚDĂŶĚŝƌŝ͘
ϯ͘ϰ Perjanjian Kerjasama Antara PT Bank Rakyat Indonesia (Persero) Tbk (“BRI”) dengan PT Indomobil
&ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ (“Perseroan”) Tentang Penggunaan Fasilitas Cash Management BRI No. B.79Ͳ
DIR/BRT/02/07 tanggal 12 Pebruari 2007, dibuat di bawah tangan (selanjutnya disebut “PKS BRI”).
ZƵĂŶŐ>ŝŶŐŬƵƉ<ĞƌũĂƐĂŵĂ͗
WĂƌĂ WŝŚĂŬ ƚĞůĂŚ ƐĞƉĂŬĂƚ ƵŶƚƵŬ ŵĞůĂŬƐĂŶĂŬĂŶ ŬĞƌũĂƐĂŵĂ ůĂLJĂŶĂŶ ĂƐŚ DĂŶĂŐĞŵĞŶƚ Z/ ƵŶƚƵŬ
ŵĞůĂŬƵŬĂŶƚƌĂŶƐĂŬƐŝƉĞƌďĂŶŬĂŶLJĂŶŐĚŝůĂŬƵŬĂŶŽůĞŚWĞƌƐĞƌŽĂŶŵĞůĂůƵŝĂƐŚDĂŶĂŐĞŵĞŶƚZ/͘ĂƐŚ
DĂŶĂŐĞŵĞŶƚ Z/ LJĂŶŐ ĚŝƐĞĚŝĂŬĂŶ ĂŶŬ Z/ ƵŶƚƵŬ WĞƌƐĞƌŽĂŶ ƚĞƌĚŝƌŝ ĚĂƌŝ ĨĂƐŝůŝƚĂƐ ĨŝƚƵƌ WĞŵďĂLJĂƌĂŶ
;WĂLJŵĞŶƚƐͿ͕ĨŝƚƵƌĐĐŽƵŶƚDĂŶĂŐĞŵĞŶƚ;ĂůĂŶĐĞZĞƉŽƌƚŝŶŐͿĚĂŶ&ŝƚƵƌ>ŝƋƵŝĚŝƚLJDĂŶĂŐĞŵĞŶƚ^LJƐƚĞŵ
;>D^Ϳ͘
:ĂŶŐŬĂtĂŬƚƵWĞƌũĂŶũŝĂŶ͗
W<^Z/ŝŶŝďĞƌĂŬŚŝƌĂƉĂďŝůĂĚŝďĂƚĂůŬĂŶĚĂŶͬĂƚĂƵĚŝĂŬŚŝƌŝŽůĞŚƐĂůĂŚƐĂƚƵƉŝŚĂŬĚĞŶŐĂŶŵĞŶLJĂŵƉĂŝŬĂŶ
ƉĞŵďĞƌŝƚĂŚƵĂŶƐĞĐĂƌĂƚĞƌƚƵůŝƐŬĞƉĂĚĂƉŝŚĂŬůĂŝŶŶLJĂĚĂůĂŵǁĂŬƚƵϯϬ;ƚŝŐĂƉƵůƵŚͿŚĂƌŝƐĞďĞůƵŵƚĂŶŐŐĂů
ƉĞŵďĂƚĂůĂŶĚĂŶͬĂƚĂƵƚĂŶŐŐĂůƉĞŶŐĂŬŚŝƌĂŶW<^Z/LJĂŶŐĚŝŬĞŚĞŶĚĂŬŝ͘
^ĞůĂŶũƵƚŶLJĂ͕ƐĂŵƉĂŝĚĞŶŐĂŶĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝ͕W<^Z/ŝŶŝŵĂƐŝŚŵĞŶŐŝŬĂƚĚĂŶďĞƌůĂŬƵďĂŐŝ
WĂƌĂWŝŚĂŬ͘
ddE͗
dĞƌĚĂƉĂƚ ŬůĂƵƐƵů ŬĞƌĂŚĂƐŝĂĂŶ ĚĂůĂŵ W<^ Z/ ƚĞƌƐĞďƵƚ Ěŝ ĂƚĂƐ͕ ĚĞŶŐĂŶ ĚĞŵŝŬŝĂŶ ŬĂŵŝ ƚŝĚĂŬ ĚĂƉĂƚ
ŵĞŶŐƵƌĂŝŬĂŶůĞďŝŚůĂŶũƵƚƚĞƌŚĂĚĂƉŬůĂƵƐƵůͲŬůĂƵƐƵůůĂŝŶŶLJĂƐĞďĂŐĂŝŵĂŶĂĚŝĂƚƵƌĚĂůĂŵW<^Z/͘
ϯ͘ϱ Perseroan dan PT Sarana Yukti Bandhana (“SYB”) telah mengadakan WĞƌũĂŶũŝĂŶ<ĞƌũĂƐĂŵĂWĞŶŐĞůŽůĂĂŶ
ĂƚĂ dĂŐŝŚĂŶ ^ĞĐĂƌĂ KŶͲ>ŝŶĞ Wd ^ĂƌĂŶĂ zƵŬƚŝ ĂŶĚŚĂŶĂ – Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ
EŽ͘ ^W͘D>WKͬϬϯͬ//ͬϮϬϭϮ ƚĂŶŐŐĂů Ϯϯ WĞďƌƵĂƌŝ ϮϬϭϮ͕ ĚŝďƵĂƚ Ěŝ ďĂǁĂŚ ƚĂŶŐĂŶ͕ ƐĞůĂŶũƵƚŶLJĂ ŵĞŶŐĂůĂŵŝ
ƉĞƌƵďĂŚĂŶ ƚĞƌĂŬŚŝƌ ďĞƌĚĂƐĂƌŬĂŶ ĚĚĞŶĚƵŵ s EŽ͘ ^W͘ D>WKͬϮϲͬy/ͬϮϬϮϮ ĚĂŶ EŽ͘ >'>ͬϬϬϭͬͬ/D&/Ͳ
^zͬϮϬϮϮƚĂŶŐŐĂůϭEŽǀĞŵďĞƌϮϬϮϮ͕ĚŝďƵĂƚĚŝďĂǁĂŚƚĂŶŐĂŶ( selanjutnya disebut “PKS Pengelolaan Data
Tagihan Secara Online SYB”)
ĞƌĚĂƐĂƌŬĂŶW<^WĞŶŐĞůŽůĂĂŶĂƚĂdĂŐŝŚĂŶ^ĞĐĂƌĂKŶůŝŶĞ^z͕WĂƌĂWŝŚĂŬƐĞƉĂŬĂƚĚĂŶĚĞŶŐĂŶŝƚŝŬĂĚďĂŝŬ
ƵŶƚƵŬ ŵĞůĂŬƵŬĂŶ ŬĞƌũĂƐĂŵĂ ĚĂůĂŵ ƉĞŶŐĞůŽůĂĂŶ ƚĂŐŝŚĂŶ ŐƵŶĂ ŵĞŵďĞƌŝŬĂŶ ŬĞŵƵĚĂŚĂŶ ďĂŐŝ
EĂƐĂďĂŚͬ<ŽŶƐƵŵĞŶ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŵĞůĂŬƵŬĂŶ dƌĂŶƐĂŬƐŝ ĂƚĂƐ dĂŐŝŚĂŶ ƐĞĐĂƌĂ ŽŶůŝŶĞ ŵĞůĂůƵŝ ŐĞŶ
WĞŶĞƌŝŵĂWĞŵďĂLJĂƌĂŶ;WWͿĚŝŵĂŶĂ^zŵĞŶLJĞĚŝĂŬĂŶ,ŽƐƚ^zLJĂŶŐĚŝŚƵďƵŶŐŬĂŶĚĞŶŐĂŶ,ŽƐƚWWĚĂŶ
ŵĞŶLJĞĚŝĂŬĂŶ,ĞůƉĞƐŬ^ĞƌǀŝĐĞƐĚĞŶŐĂŶƌŝŶĐŝĂŶŬĞǁĂũŝďĂŶŵĂƐŝŶŐͲŵĂƐŝŶŐWŝŚĂŬ͘W<^WĞŶŐĞůŽůĂĂŶĂƚĂ
dĂŐŝŚĂŶ^ĞĐĂƌĂKŶůŝŶĞ^zŝŶŝŚĂŶLJĂŵĞŶŐĂƚƵƌŚĂůͲŚĂůƐĞŚƵďƵŶŐĂŶĚĞŶŐĂŶƉĞƌĂŶ^zŵĞŶLJĞĚŝĂŬĂŶ,ŽƐƚ
^zLJĂŶŐŵĞŶŐŬŽŵƵŶŝŬĂƐŝŬĂŶĂƚĂWĞƌƐĞƌŽĂŶĚĞŶŐĂŶ,ŽƐƚWWĚĂŶŵĞŶLJĞĚŝĂŬĂŶ,ĞůƉĞƐŬ^ĞƌǀŝĐĞƐ͘
WĂƌĂ WŝŚĂŬ ^ĞƉĂŬĂƚ ďĂŚǁĂ WW LJĂŶŐ ĚŝŐƵŶĂŬĂŶ ƵŶƚƵŬ ŵĞŶĞƌŝŵĂ ƉĞŵďĂLJĂƌĂŶ ƚĂŐŝŚĂŶ WĞƌƐĞƌŽĂŶ ĚĂƌŝ
EĂƐĂďĂŚWĞƌƐĞƌŽĂŶĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Ă͘ PT Pos Indonesia (Persero) (“POS”);
ď͘ ŐŐƌĞŐĂƚŽƌ͗
Ͳ dŽŬŽƉĞĚŝĂ ;ƚĞƌŵĂƐƵŬ ŶĂŵƵŶ ƚŝĚĂŬ ƚĞƌďĂƚĂƐ ƉĂĚĂ ƉĞŵďĂLJĂƌĂŶ ŵĞůĂůƵŝ ŵŝƚƌĂ dŽŬŽƉĞĚŝĂ͕ LJĂŝƚƵ
ƌŝŵŽ͕KsKĚĂŶ'ŽdĂŐŝŚĂŶ͖
Ͳ ^ŚŽƉĞĞ͖
Ͳ ĂŶŬDĂŶĚŝƌŝ;ŚĂŶŶĞůƉĞŵďĂLJĂƌĂŶWĂLJŵĞŶƚ<ŝƚĂ͖
Đ͘ PT Bank Central Asia, Tbk (“BCA”) melalui Fasilitas BCA VA online
87
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Ͳ:ĂŶŐŬĂtĂŬƚƵ͗
ϭ͘ W<^WĞŶŐĞůŽůĂĂŶĂƚĂdĂŐŝŚĂŶ^ĞĐĂƌĂKŶůŝŶĞ^zŝŶŝďĞƌůĂŬƵƐĞũĂŬƚĂŶŐŐĂůϮϮWĞďƌƵĂƌŝϮϬϭϰƐĂŵƉĂŝ
ĚĞŶŐĂŶƐĞƚĞƌƵƐŶLJĂƐĂŵƉĂŝĚĞŶŐĂŶĂĚĂŶLJĂƐĂůĂŚƐĂƚƵƉŝŚĂŬLJĂŶŐŵĞŶŐĂŬŚŝƌŝW<^WĞŶŐĞůŽůĂĂŶĂƚĂ
dĂŐŝŚĂŶ^ĞĐĂƌĂKŶůŝŶĞ^zŝŶŝĂƚĂƵďĞƌĚĂƐĂƌŬĂŶŬĞƐĞƉĂŬĂƚĂŶĂŶƚĂƌĂWĞƌƐĞƌŽĂŶĚĂŶ^z͘
Ϯ͘ :ŝŬĂƐĂůĂŚƐĂƚƵƉŝŚĂŬďĞƌŵĂŬƐƵĚŝŶŐŝŶŵĞŶŐĂŬŚŝƌŝƉĞƌũĂŶũŝĂŶŝŶŝƐĞďĂŐĂŝŵĂŶĂĚŝŵĂŬƐƵĚƉĂĚĂĂŶŐŬĂ
;ϭͿ Ěŝ ĂƚĂƐ ŵĂŬĂ ƉŝŚĂŬ LJĂŶŐ ďĞƌƐĂŶŐŬƵƚĂŶ ǁĂũŝď ƵŶƚƵŬ ŵĞŵďĞƌŝƚĂŚƵŬĂŶ ŬĞƉĂĚĂ ƉŝŚĂŬ ůĂŝŶŶLJĂ
ƐĞůĂŵďĂƚͲůĂŵďĂƚŶLJĂϯϬ;ƚŝŐĂƉƵůƵŚͿŚĂƌŝƐĞďĞůƵŵƚĂŶŐŐĂůƉĞŶŐĂŬŚŝƌĂŶLJĂŶŐĚŝŬĞŚĞŶĚĂŬŝ͘
^ĞůĂŶũƵƚŶLJĂ͕ƐĂŵƉĂŝĚĞŶŐĂŶĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝ͕W<^WĞŶŐĞůŽůĂĂŶĂƚĂdĂŐŝŚĂŶ^ĞĐĂƌĂKŶůŝŶĞ
^zŝŶŝŵĂƐŝŚŵĞŶŐŝŬĂƚďĂŐŝWĂƌĂWŝŚĂŬ͘
ddE͗
dĞƌĚĂƉĂƚŬůĂƵƐƵůŬĞǁĂũŝďĂŶŬĞƌĂŚĂƐŝĂĂŶĚĂůĂŵW<^WĞŶŐĞůŽůĂĂŶĂƚĂdĂŐŝŚĂŶ^ĞĐĂƌĂKŶůŝŶĞ^zƚĞƌƐĞďƵƚ
ĚŝĂƚĂƐ͕ĚĞŶŐĂŶĚĞŵŝŬŝĂŶŬĂŵŝƚŝĚĂŬĚĂƉĂƚŵĞŶŐƵƌĂŝŬĂŶůĞďŝŚůĂŶũƵƚƚĞƌŚĂĚĂƉŬůĂƵƐƵůͲŬůĂƵƐƵůůĂŝŶŶLJĂ
ƐĞďĂŐĂŝŵĂŶĂĚŝĂƚƵƌĚĂůĂŵW<^WĞŶŐĞůŽůĂĂŶĂƚĂdĂŐŝŚĂŶ^ĞĐĂƌĂKŶůŝŶĞ^z͘
ϲ͘ W E'hZh^EEW E't^E
WĂĚĂ ƚĂŶŐŐĂů ĚŝƚĞƌďŝƚŬĂŶŶLJĂ WƌŽƐƉĞŬƚƵƐ ŝŶŝ͕ ƐƵƐƵŶĂŶ ŶŐŐŽƚĂ ŝƌĞŬƐŝ ĚĂŶ ĞǁĂŶ <ŽŵŝƐĂƌŝ WĞƌƐĞƌŽĂŶ͕
ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ WĞŵĞŐĂŶŐ ^ĂŚĂŵ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ ƐĞďĂŐĂŝ
WĞŶŐŐĂŶƚŝZĂƉĂƚhŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵEŽŵŽƌϭϴƚĂŶŐŐĂůϭϮ:ƵŶŝϮϬϮϯ͕ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶDƵŚĂŵŵĂĚ<ŚŽůŝĚ
ƌƚŚĂ͕ ^͘,͕͘ EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ͕ LJĂŶŐ ƚĞůĂŚ ;ŝͿ ŝďĞƌŝƚĂŚƵŬĂŶ ŬĞƉĂĚĂ DĞŶƚĞƌŝ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ
ZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂƐĞďĂŐĂŝŵĂŶĂƚĞƌŶLJĂƚĂĚĂůĂŵ^ƵƌĂƚWĞŶĞƌŝŵĂĂŶWĞŵďĞƌŝƚĂŚƵĂŶWĞƌƵďĂŚĂŶĂƚĂWĞƌƐĞƌŽĂŶ
EŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϭϮϵϯϰϭƚĂŶŐŐĂůϮϬ:ƵŶŝϮϬϮϯĚĂŶ;ŝŝͿ ŝĚĂĨƚĂƌŬĂŶ ĚĂůĂŵ ĂĨƚĂƌ WĞƌƐĞƌŽĂŶ EŽ͘ ,hͲ
Ϭϭϭϰϱϳϯ͘,͘Ϭϭ͘ϭϭdĂŚƵŶϮϬϮϯƚĂŶŐŐĂůϮϬ:ƵŶŝϮϬϮϯƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ĞǁĂŶ<ŽŵŝƐĂƌŝƐ
WƌĞƐŝĚĞŶ<ŽŵŝƐĂƌŝƐ ͗ :ƵƐĂŬ<ĞƌƚŽǁŝĚũŽũŽ
<ŽŵŝƐĂƌŝƐ ͗ 'ƵŶĂǁĂŶ;'ƵŶĂǁĂŶ ĨĨĞŶĚŝͿ
<ŽŵŝƐĂƌŝƐ/ŶĚĞƉĞŶĚĞŶ ͗ dƌŝLJĂŶĂ/ƐŬĂŶĚĂƌƐũĂŚ
ŝƌĞŬƐŝ
WƌĞƐŝĚĞŶŝƌĞŬƚƵƌ ͗ ĚLJ,ĂŶĚŽũŽ^ĂŶƚŽƐŽ
ŝƌĞŬƚƵƌ ͗ WĂƵůƵƐ͘>ĂƌŽƐĂ
ŝƌĞŬƚƵƌ ͗ ^ŝĨƌĂsŝŽŶĂdũĂŚũŽŶŽ
Dewan Komisaris
:ƵƐĂŬ<ĞƌƚŽǁŝĚũŽũŽ
WƌĞƐŝĚĞŶ<ŽŵŝƐĂƌŝƐ
hƐŝĂϲϴƚĂŚƵŶ͕ďĞƌŬĞǁĂƌŐĂŶĞŐĂƌĂĂŶ/ŶĚŽŶĞƐŝĂ͕ĚŝĂŶŐŬĂƚƐĞďĂŐĂŝWƌĞƐŝĚĞŶ
<ŽŵŝƐĂƌŝƐ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ
WĞŵĞŐĂŶŐ^ĂŚĂŵWd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂƐĞďĂŐĂŝƉĞŶŐŐĂŶƚŝZĂƉĂƚ
hŵƵŵ WĞŵĞŐĂŶŐ ^ĂŚĂŵ EŽ͘ ϭϴ ƚĂŶŐŐĂů ϭϮ :ƵŶŝ ϮϬϮϯ ďĞƐĞƌƚĂ ^ƵƌĂƚ
WĞŶĞƌŝŵĂĂŶ WĞŵďĞƌŝƚĂŚƵĂŶ WĞƌƵďĂŚĂŶ ĂƚĂ WĞƌƐĞƌŽĂŶ ĚĂƌŝ <ĞŵĞŶƚĞƌŝĂŶ
,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂEŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϭϮϵϯϰϭƚĂŶŐŐĂůϮϬ:ƵŶŝ
ϮϬϮϯ͘
ĞůŝĂƵŵĞŵƉĞƌŽůĞŚŐĞůĂƌ^ĂƌũĂŶĂ ŬŽŶŽŵŝũƵƌƵƐĂŶŝƐŶŝƐĚŵŝŶŝƐƚƌĂƐŝĚĂƌŝ
hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ WĂƌĂŚLJĂŶŐĂŶ ƉĂĚĂ ƚĂŚƵŶ ϭϵϴϮ͘ ĞůŝĂƵ ŵĞŵƵůĂŝ ŬĂƌŝĞƌ
ƉƌŽĨĞƐŝŽŶĂůŶLJĂĚŝ'ƌƵƉ/ŶĚŽŵŽďŝůƐĞũĂŬƚĂŚƵŶϭϵϴϮ͘
88
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WĞŶŐĂůĂŵĂŶWĞŬĞƌũĂĂŶ
WĞƌŝŽĚĞ WĞƌƵƐĂŚĂĂŶ WŽƐŝƐŝ
ϮϬϬϳͲϮϬϮϬ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ WƌĞƐŝĚĞŶŝƌĞŬƚƵƌ
/ŶĚŽŶĞƐŝĂ
ϮϬϭϭͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů^ƵŬƐĞƐ ŝƌĞŬƚƵƌhƚĂŵĂ
/ŶƚĞƌŶĂƐŝŽŶĂůdďŬ
ϮϬϭϯͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬ ŝƌĞŬƚƵƌhƚĂŵĂ
ϮϬϭϲͲ^ĂĂƚŝŶŝ Wd^DŽƌƉŽƌĂƚĂŵĂ <ŽŵŝƐĂƌŝƐhƚĂŵĂ
ϮϬϮϬͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ WƌĞƐŝĚĞŶ<ŽŵŝƐĂƌŝƐ
ϮϬϮϬͲ^ĂĂƚŝŶŝ /ŶĚŽŶĞƐŝĂ WƌĞƐŝĚĞŶ<ŽŵŝƐĂƌŝƐ
Wd^ŽůƵƐŝ/ŶĚŽŵŽďŝůWĞƌŬĂƐĂ
'ƵŶĂǁĂŶ;'ƵŶĂǁĂŶ ĨĨĞŶĚŝͿ
<ŽŵŝƐĂƌŝƐ
hƐŝĂϱϰƚĂŚƵŶ͕ďĞƌŬĞǁĂƌŐĂŶĞŐĂƌĂĂŶ/ŶĚŽŶĞƐŝĂ͕ĚŝĂŶŐŬĂƚƐĞďĂŐĂŝ<ŽŵŝƐĂƌŝƐ
WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ WĞŵĞŐĂŶŐ
^ĂŚĂŵ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ ƐĞďĂŐĂŝ ƉĞŶŐŐĂŶƚŝ ZĂƉĂƚ hŵƵŵ
WĞŵĞŐĂŶŐ^ĂŚĂŵEŽ͘ϭϴƚĂŶŐŐĂůϭϮ:ƵŶŝϮϬϮϯďĞƐĞƌƚĂ^ƵƌĂƚWĞŶĞƌŝŵĂĂŶ
WĞŵďĞƌŝƚĂŚƵĂŶ WĞƌƵďĂŚĂŶ ĂƚĂ WĞƌƐĞƌŽĂŶ ĚĂƌŝ <ĞŵĞŶƚĞƌŝĂŶ ,ƵŬƵŵ ĚĂŶ
,ĂŬƐĂƐŝDĂŶƵƐŝĂEŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϭϮϵϯϰϭƚĂŶŐŐĂůϮϬ:ƵŶŝϮϬϮϯ͘
ĞůŝĂƵ ŵĞƌĂŝŚ ŐĞůĂƌ ^ĂƌũĂŶĂ ŬŽŶŽŵŝ ŬƵŶƚĂŶƐŝ ĚĂƌŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ
ƚŵĂũĂLJĂ :ĂŬĂƌƚĂ ƉĂĚĂ ƚĂŚƵŶ ϭϵϵϰ͘ ĞůŝĂƵ ďĞƌŐĂďƵŶŐ ĚĞŶŐĂŶ /ŶĚŽŵŽďŝů
'ƌŽƵƉ ƐĞũĂŬ ƚĂŚƵŶ ϮϬϬϱ ĚĂŶ ƐĂĂƚ ŝŶŝ ŵĞŶũĂďĂƚ ƐĞďĂŐĂŝ <ŽŵŝƐĂƌŝƐ ĚĂŶ
ŝƌĞŬƚƵƌĚŝďĞďĞƌĂƉĂĂŶĂŬƉĞƌƵƐĂŚĂĂŶ/ŶĚŽŵŽďŝů͘
WĞŶŐĂůĂŵĂŶWĞŬĞƌũĂĂŶ
WĞƌŝŽĚĞ WĞƌƵƐĂŚĂĂŶ WŽƐŝƐŝ
ϭϵϵϯͲϭϵϵϲ WƌĂƐĞƚŝĂhƚŽŵŽΘŽ;ƌƚŚƵƌ ^ƵƉĞƌǀŝƐŽƌ
ŶĚĞƌƐĞŶͿ
ϭϵϵϲͲϮϬϬϭ WdŚĂƌŵĂůĂ/ŶƚŝƵƚĂŵĂ 'ƌŽƵƉ&ŝŶĂŶĐŝĂů
ŽŶƚƌŽůůĞƌ
ϮϬϬϭͲϮϬϬϮ WdƌŐŚĂ<ĂƌLJĂWƌŝŵĂ/ŶĚƵƐƚƌLJ ,ĞĂĚŽĨ/ŶƚĞƌŶĂůƵĚŝƚ
dďŬ
ϮϬϬϮͲϮϬϬϱ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ ƐƐŝƐƚĂŶƚ&ŝŶĂŶĐĞ
/ŶĚŽŶĞƐŝĂ ŝƌĞĐƚŽƌ
ϮϬϬϱͲϮϬϬϴ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ 'ĞŶĞƌĂůDĂŶĂŐĞƌ
/ŶĚŽŶĞƐŝĂ
ϮϬϬϴͲϮϬϭϮ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ ŚŝĞĨ&ŝŶĂŶĐŝĂůKĨĨŝĐĞƌ
/ŶĚŽŶĞƐŝĂ
ϮϬϭϮͲϮϬϮϬ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ ŚŝĞĨ džĞĐƵƚŝǀĞKĨĨŝĐĞƌ
/ŶĚŽŶĞƐŝĂ
ϮϬϭϯͲϮϬϭϲ Wd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬ ŝƌĞŬƚƵƌ
ϮϬϭϲͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬ tĂŬŝůWƌĞƐŝĚĞŶŝƌĞŬƚƵƌ
ϮϬϭϴͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů ŬƐƉƌĞƐdƌƵŬ <ŽŵŝƐĂƌŝƐ
ϮϬϮϬͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ <ŽŵŝƐĂƌŝƐ
ϮϬϮϬͲ^ĂĂƚŝŶŝ /ŶĚŽŶĞƐŝĂ WƌĞƐŝĚĞŶŝƌĞŬƚƵƌ
ϮϬϮϭͲ^ĂĂƚŝŶŝ Wd^ŽůƵƐŝ/ŶĚŽŵŽďŝůWĞƌŬĂƐĂ ŶŐŐŽƚĂ<ŽŵŝƚĞ
Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ EŽŵŝŶĂƐŝĚĂŶ
ϮϬϮϭͲ^ĂĂƚŝŶŝ /ŶĚŽŶĞƐŝĂ ZĞŵƵŶĞƌĂƐŝ
ϮϬϮϭͲ^ĂĂƚŝŶŝ <ŽŵŝƐĂƌŝƐ
ϮϬϮϭͲ^ĂĂƚŝŶŝ Wd^DŽƌƉŽƌĂƚĂŵĂ <ŽŵŝƐĂƌŝƐ
ϮϬϮϭͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝůŝŶƚĂŶŽƌƉŽƌĂ <ŽŵŝƐĂƌŝƐ
ϮϬϮϮͲ^ĂĂƚŝŶŝ WdtĂŚĂŶĂ/ŶĚŽdƌĂĚĂ <ŽŵŝƐĂƌŝƐ
DŽďŝůŝŶĚŽ <ŽŵŝƐĂƌŝƐ
Wd<ŚĂƌŝƐŵĂDƵĚĂ
Wd/ŶĚŽŵŽďŝůƵƐƐĂŶdƌƵĐŬŝŶŐ
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ϮϬϮϰͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů^ƵŬƐĞƐ ŝƌĞŬƚƵƌ
/ŶƚĞƌŶĂƐŝŽŶĂůdďŬ
Triyana Iskandarjah
Komisaris Independen
hƐŝĂϲϰƚĂŚƵŶ͕ďĞƌŬĞǁĂƌŐĂŶĞŐĂƌĂĂŶ/ŶĚŽŶĞƐŝĂ͕ĚŝĂŶŐŬĂƚƐĞďĂŐĂŝ<ŽŵŝƐĂƌŝƐ
/ŶĚĞƉĞŶĚĞŶ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ
WĞŵĞŐĂŶŐ^ĂŚĂŵWd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂƐĞďĂŐĂŝƉĞŶŐŐĂŶƚŝZĂƉĂƚ
hŵƵŵ WĞŵĞŐĂŶŐ ^ĂŚĂŵ EŽ͘ ϭϴ ƚĂŶŐŐĂů ϭϮ :ƵŶŝ ϮϬϮϯ ďĞƐĞƌƚĂ ^ƵƌĂƚ
WĞŶĞƌŝŵĂĂŶ WĞŵďĞƌŝƚĂŚƵĂŶ WĞƌƵďĂŚĂŶ ĂƚĂ WĞƌƐĞƌŽĂŶ ĚĂƌŝ <ĞŵĞŶƚĞƌŝĂŶ
,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂEŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϭϮϵϯϰϭƚĂŶŐŐĂůϮϬ:ƵŶŝ
ϮϬϮϯ͘
ĞůŝĂƵ ŵĞƌĂŝŚ ŐĞůĂƌ ^ĂƌũĂŶĂ ŬŽŶŽŵŝ DĂŶĂũĞŵĞŶ ĚĂƌŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ
WĂƌĂŚLJĂŶŐĂŶ ƉĂĚĂ ƚĂŚƵŶ ϭϵϴϱ͕ ĚĂŶ ƉĂƐĐĂƐĂƌũĂŶĂ ũƵƌƵƐĂŶ ŬŽŶŽŵŝ
WĞŵďĂŶŐƵŶĂŶĚĂƌŝhŶŝǀĞƌƐŝƚĂƐ/ŶĚŽŶĞƐŝĂƉĂĚĂƚĂŚƵŶϭϵϵϲ͘
WĞŶŐĂůĂŵĂŶWĞŬĞƌũĂĂŶ
WĞƌŝŽĚĞ WĞƌƵƐĂŚĂĂŶ WŽƐŝƐŝ
ϭϵϴϲͲ^ĂĂƚŝŶŝ hŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬ
ŽƐĞŶ
WĂƌĂŚLJĂŶŐĂŶ
ϭϵϵϲͲϮϬϬϭ hŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬ <ĞƚƵĂWƌŽŐƌĂŵ^ƚƵĚŝ
WĂƌĂŚLJĂŶŐĂŶ ŝƉůŽŵĂDĂŶĂũĞŵĞŶ
ϭϵϵϴͲϭϵϵϵ hŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬ ^ĞŬƌĞƚĂƌŝƐ:ƵƌƵƐĂŶ
WĂƌĂŚLJĂŶŐĂŶ DĂŶĂũĞŵĞŶ
ϮϬϬϮͲϮϬϬϰ hŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬ <ĞƚƵĂWƵƐĂƚ<ĂũŝĂŶ
WĂƌĂŚLJĂŶŐĂŶ KƌŐĂŶŝƐĂƐŝĚĂŶ
DĂŶĂũĞŵĞŶ/ŶƐĂŶŝ
ϮϬϬϯͲϮϬϬϱ ĞǁĂŶWĞŶŐƵƉĂŚĂŶ tĂŬŝů<ĞƚƵĂ
<ŽƚĂŵĂĚLJĂĂŶĚƵŶŐ
ϮϬϬϯͲϮϬϬϲ͕ϮϬϭϭ hŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬ <ĞƚƵĂ:ƵƌƵƐĂŶ
ͲϮϬϭϲ WĂƌĂŚLJĂŶŐĂŶ DĂŶĂũĞŵĞŶ
ϮϬϬϲͲ^ĂĂƚŝŶŝ WdůĞƐŝ/ŶĚŽŶĞƐŝĂ <ŽŶƐƵůƚĂŶĚĂŶ&ĂƐŝůŝƚĂƚŽƌ
DĂŶĂũĞŵĞŶ
ϮϬϬϳͲϮϬϬϵ hŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬ <ĞƚƵĂWƌŽŐƌĂŵ^ƚƵĚŝ
WĂƌĂŚLJĂŶŐĂŶ ^ĂƌũĂŶĂDĂŶĂũĞŵĞŶ
ϮϬϭϲͲϮϬϭϵ hŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬ <ĞƚƵĂWƌŽŐƌĂŵ^ƚƵĚŝ
WĂƌĂŚLJĂŶŐĂŶ ^ĂƌũĂŶĂDĂŶĂũĞŵĞŶ
ϮϬϭϳͲ^ĂĂƚŝŶŝ />K dƌĂŝŶĞƌŝŶ^ƵƐƚĂŝŶŝŶŐ
ŽŵƉĞƚŝƚŝǀĞĂŶĚ
ZĞƐƉŽŶƐŝďůĞ ŶƚĞƌƉƌŝƐĞ
WƌŽŐƌĂŵŵĞ
ϮϬϭϵͲ^ĂĂƚŝŶŝ h^/ dƌĂŝŶĞƌŝŶ&ŝŶĂŶĐŝĂů>ŝĨĞ
^ŬŝůůƐ
ϮϬϭϵͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ <ŽŵŝƐĂƌŝƐ/ŶĚĞƉĞŶĚĞŶ
/ŶĚŽŶĞƐŝĂ
ϮϬϭϵͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ <ĞƚƵĂ<ŽŵŝƚĞƵĚŝƚ
/ŶĚŽŶĞƐŝĂ
ϮϬϮϭͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ <ĞƚƵĂ<ŽŵŝƚĞWĞŵĂŶƚĂƵ
/ŶĚŽŶĞƐŝĂ ZŝƐŝŬŽ
ϮϬϮϭͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ <ĞƚƵĂ<ŽŵŝƚĞEŽŵŝŶĂƐŝ
/ŶĚŽŶĞƐŝĂ ĚĂŶZĞŵƵŶĞƌĂƐŝ
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ŝƌĞŬƐŝ
Edy Handojo Santoso
Presiden Direktur
hƐŝĂϲϴƚĂŚƵŶ͕ďĞƌŬĞǁĂƌŐĂŶĞŐĂƌĂĂŶ/ŶĚŽŶĞƐŝĂ͕ĚŝĂŶŐŬĂƚƐĞďĂŐĂŝWƌĞƐŝĚĞŶ
ŝƌĞŬƚƵƌ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ
WĞŵĞŐĂŶŐ^ĂŚĂŵWd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂƐĞďĂŐĂŝƉĞŶŐŐĂŶƚŝZĂƉĂƚ
hŵƵŵ WĞŵĞŐĂŶŐ ^ĂŚĂŵ EŽ͘ ϭϴ ƚĂŶŐŐĂů ϭϮ :ƵŶŝ ϮϬϮϯ ďĞƐĞƌƚĂ ^ƵƌĂƚ
WĞŶĞƌŝŵĂĂŶWĞŵďĞƌŝƚĂŚƵĂŶWĞƌƵďĂŚĂŶĂƚĂWĞƌƐĞƌŽĂŶ ĚĂƌŝ<ĞŵĞŶƚĞƌŝĂŶ
,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂEŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϭϮϵϯϰϭƚĂŶŐŐĂůϮϬ:ƵŶŝ
ϮϬϮϯ͘
ĞůŝĂƵ ŵĞƌĂŝŚ ŐĞůĂƌ ^ĂƌũĂŶĂ ŬŽŶŽŵŝ DĂŶĂũĞŵĞŶ ĚĂƌŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ
WĂƌĂŚLJĂŶŐĂŶ ƉĂĚĂ ƚĂŚƵŶ ϭϵϴϬ͕ ĚĂŶ ŵĞƌĂŝŚ ŐĞůĂƌ DĂƐƚĞƌ ƉĂĚĂ ƉƌŽŐƌĂŵ
DĂŐŝƐƚĞƌ DĂŶĂũĞŵĞŶ <ŽŶƐĞŶƚƌĂƐŝ ŵĂŶĂũĞŵĞŶ /ŶƚĞƌŶĂƐŝŽŶĂů ĚĂƌŝ ^ĞŬŽůĂŚ
dŝŶŐŐŝDĂŶĂũĞŵĞŶWƌĂƐĞƚŝLJĂDƵůLJĂƚĂŚƵŶϭϵϵϲ͘
WĞŶŐĂůĂŵĂŶWĞŬĞƌũĂĂŶ
WĞƌŝŽĚĞ WĞƌƵƐĂŚĂĂŶ WŽƐŝƐŝ
ϭϵϵϯͲϭϵϵϲ WdtŝƌĂƐǁĂƐƚĂ'ĞŵŝůĂŶŐ ƐƐŝƐƚĂŶƚ'D&ŝŶĂŶĐĞ
/ŶĚŽŶĞƐŝĂ
ϭϵϵϲͲϭϵϵϴ WdZŝƐũĂĚƌĂƐĂůŝ^ƚLJƌŝŶĚŽ ^ĞŶŝŽƌ&ŝŶĂŶĐĞDĂŶĂŐĞƌ
ϭϵϵϴͲϮϬϬϳ WdŝŶĂƌ^ŝŶĂƌŵŝƚLJ sŝĐĞ'DKƉĞƌĂƚŝŽŶ
ϮϬϬϳͲϮϬϭϰ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ KƉĞƌĂƚŝŽŶhŶŝƚ,ĞĂĚ
/ŶĚŽŶĞƐŝĂ
ϮϬϭϰͲϮϬϮϬ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ ŝƌĞŬƚƵƌ
/ŶĚŽŶĞƐŝĂ
ϮϬϭϱͲϮϬϮϯ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ ŽƌƉŽƌĂƚĞ^ĞĐƌĞƚĂƌLJ
/ŶĚŽŶĞƐŝĂ
ϮϬϮϬͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ WƌĞƐŝĚĞŶŝƌĞŬƚƵƌ
/ŶĚŽŶĞƐŝĂ
Paulus A. Larosa
Direktur
hƐŝĂϱϭƚĂŚƵŶ͕ďĞƌŬĞǁĂƌŐĂŶĞŐĂƌĂĂŶ/ŶĚŽŶĞƐŝĂ͕ĚŝĂŶŐŬĂƚƐĞďĂŐĂŝŝƌĞŬƚƵƌ
WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ WĞŵĞŐĂŶŐ
^ĂŚĂŵ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ ƐĞďĂŐĂŝ ƉĞŶŐŐĂŶƚŝ ZĂƉĂƚ hŵƵŵ
WĞŵĞŐĂŶŐ^ĂŚĂŵEŽ͘ϭϴƚĂŶŐŐĂůϭϮ:ƵŶŝϮϬϮϯďĞƐĞƌƚĂ^ƵƌĂƚWĞŶĞƌŝŵĂĂŶ
WĞŵďĞƌŝƚĂŚƵĂŶ WĞƌƵďĂŚĂŶ ĂƚĂ WĞƌƐĞƌŽĂŶ ĚĂƌŝ <ĞŵĞŶƚĞƌŝĂŶ ,ƵŬƵŵ ĚĂŶ
,ĂŬƐĂƐŝDĂŶƵƐŝĂEŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϭϮϵϯϰϭƚĂŶŐŐĂůϮϬ:ƵŶŝϮϬϮϯ͘
ĞůŝĂƵŵĞƌĂŝŚŐĞůĂƌ^ĂƌũĂŶĂŬƵŶƚĂŶƐŝĚĂƌŝhŶŝǀĞƌƐŝƚĂƐ/ŶĚŽŶĞƐŝĂƉĂĚĂƚĂŚƵŶ
ϭϵϵϴ͘ĞůŝĂƵďĞƌŐĂďƵŶŐĚĞŶŐĂŶ/ŶĚŽŵŽďŝů'ƌŽƵƉƉĂĚĂƚĂŚƵŶϮϬϬϯ͘
WĞŶŐĂůĂŵĂŶWĞŬĞƌũĂĂŶ
WĞƌŝŽĚĞ WĞƌƵƐĂŚĂĂŶ WŽƐŝƐŝ
ϭϵϵϵͲϮϬϬϮ ĞůŽŝƚƚĞ dŽƵĐŚĞ dŽŚŵĂƚƐƵ
ƵĚŝƚŽƌ
/ŶƚĞƌŶĂƚŝŽŶĂů
ϮϬϬϮͲϮϬϬϯ WdhW^ĂƌĚŝŐ/ŶƚĞƌŶĂƚŝŽŶĂů /ŶƚĞƌŶĂůƵĚŝƚ
ϮϬϬϯͲϮϬϬϳ Wd/ŶĚŽŵŽďŝů^ƵŬƐĞƐ
ƵƐŝŶĞƐƐŽŶƚƌŽů
/ŶƚĞƌŶĂƚŝŽŶĂůdďŬ
ϮϬϬϳͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ ŝƌĞŬƚƵƌ
91
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ϮϬϭϯͲϮϬϮϬ Wd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬ ŝǀŝƐŝŽŶ,ĞĂĚ
ϮϬϭϱͲϮϬϮϬ ĂŶĂWĞŶƐŝƵŶ/ŶĚŽŵŽďŝů'ƌŽƵƉ ĞǁĂŶWĞŶŐĂǁĂƐ
ϮϬϭϴͲϮϬϮϬ Wd/ŶĚŽŵŽďŝů ŬƐƉƌĞƐƐdƌƵĐŬ ŝƌĞŬƚƵƌ
Sifra Viona Tjahjono
Direktur
^ŝĨƌĂ sŝŽŶĂ dũĂŚũŽŶŽ͕ ƵƐŝĂ ϰϰ ƚĂŚƵŶ͕ ďĞƌŬĞǁĂƌŐĂŶĞŐĂƌĂĂŶ /ŶĚŽŶĞƐŝĂ͕
ĚŝĂŶŐŬĂƚ ƐĞďĂŐĂŝ ŝƌĞŬƚƵƌ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ WĞƌŶLJĂƚĂĂŶ
<ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ WĞŵĞŐĂŶŐ ^ĂŚĂŵ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ
ƐĞďĂŐĂŝƉĞŶŐŐĂŶƚŝZĂƉĂƚhŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵEŽ͘ϭϴƚĂŶŐŐĂůϭϮ:ƵŶŝ
ϮϬϮϯďĞƐĞƌƚĂ^ƵƌĂƚWĞŶĞƌŝŵĂĂŶWĞŵďĞƌŝƚĂŚƵĂŶWĞƌƵďĂŚĂŶĂƚĂWĞƌƐĞƌŽĂŶ
ĚĂƌŝ <ĞŵĞŶƚĞƌŝĂŶ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ EŽ͘ ,hͲ ,͘Ϭϭ͘ϬϵͲ
ϬϭϮϵϯϰϭƚĂŶŐŐĂůϮϬ:ƵŶŝϮϬϮϯ͘
ĞůŝĂƵ ŵĞƌĂŝŚ ŐĞůĂƌ ^ĂƌũĂŶĂ dĞŬŶŝŬ <ŝŵŝĂ ĚĂƌŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ
WĂƌĂŚLJĂŶŐĂŶƉĂĚĂƚĂŚƵŶϮϬϬϯ͘
WĞŶŐĂůĂŵĂŶWĞŬĞƌũĂĂŶ
WĞƌŝŽĚĞ WĞƌƵƐĂŚĂĂŶ WŽƐŝƐŝ
ϮϬϬϯ Wd^ĂŚĂďĂƚhƚĂŵĂdƌĂŽ ƐƐŝƐƚĂŶƚ^ƚŽƌĞDĂŶĂŐĞƌ
ϮϬϬϰͲϮϬϮϬ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ <ĞƉĂůĂŝǀŝƐŝ
/ŶĚŽŶĞƐŝĂ KƉĞƌĂƐŝŽŶĂů
ϮϬϭϳͲϮϬϮϬ WdEŝƐƐĂŶ&ŝŶĂŶĐŝĂů^ĞƌǀŝĐĞƐ ŝƌĞŬƚƵƌ
/ŶĚŽŶĞƐŝĂ
ϮϬϮϬͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ ŝƌĞŬƚƵƌ
/ŶĚŽŶĞƐŝĂ
dŝĚĂŬĂĚĂŬĞƉĞŶƚŝŶŐĂŶůĂŝŶLJĂŶŐďĞƌƐŝĨĂƚŵĂƚĞƌŝĂůĚŝůƵĂƌŬĂƉĂƐŝƚĂƐŶLJĂƐĞďĂŐĂŝĂŶŐŐŽƚĂŝƌĞŬƐŝƚĞƌŬĂŝƚWĞŶĂǁĂƌĂŶ
hŵƵŵ ĨĞŬĞƌƐŝĨĂƚƵƚĂŶŐĂƚĂƵƉĞŶĐĂƚĂƚĂŶŶLJĂĚŝƵƌƐĂ ĨĞŬ͘
dŝĚĂŬĂĚĂŚĂůLJĂŶŐĚĂƉĂƚŵĞŶŐŚĂŵďĂƚŬĞŵĂŵƉƵĂŶĂŶŐŐŽƚĂŝƌĞŬƐŝƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶƚƵŐĂƐĚĂŶƚĂŶŐŐƵŶŐ
ũĂǁĂďŶLJĂƐĞďĂŐĂŝĂŶŐŐŽƚĂŝƌĞŬƐŝĚĞŵŝŬĞƉĞŶƚŝŶŐĂŶWĞƌƐĞƌŽĂŶ͘
dŝĚĂŬ ĂĚĂ ƐŝĨĂƚ ŚƵďƵŶŐĂŶ ŬĞŬĞůƵĂƌŐĂĂŶ Ěŝ ĂŶƚĂƌĂ ĂŶŐŐŽƚĂ ŝƌĞŬƐŝ͕ ĂŶŐŐŽƚĂ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ ĚĂŶ ƉĞŵĞŐĂŶŐ
ƐĂŚĂŵ ŵŝƚĞŶ
dŝĚĂŬĂĚĂƉĞƌũĂŶũŝĂŶĂƚĂƵŬĞƐĞƉĂŬĂƚĂŶĂŶƚĂƌĂĂŶŐŐŽƚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐĚĂŶĂŶŐŐŽƚĂŝƌĞŬƐŝĚĞŶŐĂŶWĞŵĞŐĂŶŐ
^ĂŚĂŵhƚĂŵĂ͕ƉĞůĂŶŐŐĂŶ͕ƉĞŵĂƐŽŬ͕ĚĂŶͬĂƚĂƵƉŝĂŬůĂŝŶďĞƌŬĂŝƚĂŶĚĞŶŐĂŶƉĞŶĞŵƉĂƚĂŶĂƚĂƵƉĞŶƵŶũƵŬĂŶƐĞďĂŐĂŝ
ĂŶŐŐŽƚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐĚĂŶĂŶŐŐŽƚĂŝƌĞŬƐŝ ŵŝƚĞŶ͘
WĂƌĂĂŶŐŐŽƚĂŝƌĞŬƐŝĚĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐWĞƌƐĞƌŽĂŶĚŝĂƚĂƐƚĞůĂŚĚŝĂŶŐŬĂƚƐĞĐĂƌĂƐĂŚƐĞƐƵĂŝĚĞŶŐĂŶŶŐŐĂƌĂŶ
ĂƐĂƌĚĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͕ƵŶƚƵŬũĂŶŐŬĂǁĂŬƚƵŵĂƐĂũĂďĂƚĂŶƐĞůĂŵĂϱ;ůŝŵĂͿƚĂŚƵŶ
ƚĞƌŚŝƚƵŶŐƐĞũĂŬƚĂŶŐŐĂůŬĞƉƵƚƵƐĂŶĞĚĂƌĂŶƉĞŵĞŐĂŶŐƐĂŚĂŵWĞƌƐĞƌŽĂŶƚĂŶŐŐĂůϭϳDĞŝϮϬϮϯĚĂŶĂŬĂŶďĞƌĂŬŚŝƌƉĂĚĂ
ƉĞŶƵƚƵƉĂŶdĂŚƵŶƵŬƵϮϬϮϳƉĂĚĂZĂƉĂƚhŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵdĂŚƵŶĂŶĚŝƚĂŚƵŶϮϬϮϴ͘WĂƌĂĂŶŐŐŽƚĂŝƌĞŬƐŝ
ĚĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐWĞƌƐĞƌŽĂŶĚŝĂƚĂƐƚĞůĂŚŵĞŵƉĞƌŽůĞŚƐƵƌĂƚŬĞƉƵƚƵƐĂŶůƵůƵƐƵũŝƉĞŶŝůĂŝĂŶŬĞŵĂŵƉƵĂŶĚĂŶ
ŬĞƉĂƚƵƚĂŶĚĂƌŝK:<͘
ϳ͘ dd< >K>W Zh^,E
WĞƌƐĞƌŽĂŶƐĞŶĂŶƚŝĂƐĂďĞƌŬŽŵŝƚŵĞŶƵŶƚƵŬŵĞŶŐŝŵƉůĞŵĞŶƚĂƐŝŬĂŶdĂƚĂ<ĞůŽůĂWĞƌƵƐĂŚĂĂŶLJĂŶŐĂŝŬ;'ŽŽĚ
ŽƌƉŽƌĂƚĞ'ŽǀĞƌŶĂŶĐĞͬ''ͿŐƵŶĂŵĞŵĂƐƚŝŬĂŶďĂŚǁĂŬĞŐŝĂƚĂŶŽƉĞƌĂƐŝŽŶĂůWĞƌƐĞƌŽĂŶďĞƌũĂůĂŶĚĞŶŐĂŶƐĞŚĂƚ
ƐĞŚŝŶŐŐĂŵĂŵƉƵŵĞŶĚƵŬƵŶŐƉĞƌƚƵŵďƵŚĂŶWĞƌƐĞƌŽĂŶƐĞĐĂƌĂďĞƌŬĞƐŝŶĂŵďƵŶŐĂŶ͕ƐĞƌƚĂŵĞŶŝŶŐŬĂƚŬĂŶŶŝůĂŝ
WĞƌƐĞƌŽĂŶďĂŝŬďĂŐŝƉĞŵĞŐĂŶŐƐĂŚĂŵĚĂŶƉĞŵĂŶŐŬƵŬĞƉĞŶƚŝŶŐĂŶůĂŝŶŶLJĂ͘
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ĚĂƉƵŶŬŽŵŝƚŵĞŶĚĂůĂŵƉĞŶĞƌĂƉĂŶ''WĞƌƐĞƌŽĂŶƚĞƌĐĞƌŵŝŶĚĂůĂŵŚĂůƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
• DĞŵĂƐƚŝŬĂŶŬĞĂŶĚĂůĂŶ>ĂƉŽƌĂŶ<ĞƵĂŶŐĂŶ͖
• DĞŵĞůŝŚĂƌĂƉĞĚŽŵĂŶ͕ƉŝĂŐĂŵĚĂŶƉƌŽƐĞĚƵƌdĂƚĂ<ĞůŽůĂƐĞĐĂƌĂŬŽŶƐŝƐƚĞŶ͖
• DĞŵĂƐƚŝŬĂŶŬĞƉĂƚƵŚĂŶƉĞƌĂƚƵƌĂŶĚĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͖ĚĂŶ
• ,ĂůͲŚĂůůĂŝŶŶLJĂLJĂŶŐƚĞŶƚƵŵĞŶũƵŶũƵŶŐƉƌŝŶƐŝƉͲƉƌŝŶƐŝƉ''͘
WĞƌƐĞƌŽĂŶŵĞŵĂƐƚŝŬĂŶƉĞŶĞƌĂƉĂŶƉƌŝŶƐŝƉͲƉƌŝŶƐŝƉƚĂƚĂŬĞůŽůĂLJĂŶŐďĂŝŬƉĂĚĂƐĞƚŝĂƉĂƐƉĞŬďŝƐŶŝƐĚĂŶƐĞŵƵĂũĂũĂƌĂŶ
ŽƌŐĂŶŝƐĂƐŝĚŝůĂŬƵŬĂŶƐĞĐĂƌĂŬŽŶƐŝƐƚĞŶĚĂŶƚĞƌƚĂŶĂŵĚŝƐĞƚŝĂƉŝŶƐĂŶWĞƌƐĞƌŽĂŶĂŐĂƌŵĞŶũĂĚŝďƵĚĂLJĂƉĞƌƵƐĂŚĂĂŶ͘
''ƐĞŶĂŶƚŝĂƐĂŵĞŶũĂĚŝƉŽůĂƉŝŬŝƌĚĂŶƉŽůĂŬĞƌũĂĚŝƐĞƚŝĂƉůĂŶŐŬĂŚĚĂŶƚŝŶĚĂŬĂŶƐĞůƵƌƵŚũĂũĂƌĂŶŵĂŶĂũĞŵĞŶĚĂŶ
ŵĞŶũĂĚŝůĂŶĚĂƐĂŶĚĂůĂŵŵĞŶĐŝƉƚĂŬĂŶƐŝƐƚĞŵŬĞƌũĂLJĂŶŐĞĨŝƐŝĞŶĚĂŶĞĨĞŬƚŝĨĚĞŶŐĂŶŵĞŶLJĞƐƵĂŝŬĂŶƉĂĚĂŝŬůŝŵďŝƐŶŝƐ
LJĂŶŐďĞƌŬĞŵďĂŶŐ͕ďĂŝŬŝŶƚĞƌŶĂůŵĂƵƉƵŶĞŬƐƚĞƌŶĂů͘
Dewan Komisaris
ĞǁĂŶ <ŽŵŝƐĂƌŝƐ ŵĞŶũĂůĂŶŬĂŶ ƚƵŐĂƐ ĚĂŶ ƚĂŶŐŐƵŶŐ ũĂǁĂďŶLJĂ ĚĞŶŐĂŶͬ ďĞƌůĂŶĚĂƐŬĂŶ ƉĂĚĂ WĞĚŽŵĂŶ ĞǁĂŶ
<ŽŵŝƐĂƌŝƐ͘WĞĚŽŵĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐƚĞƌƐĞďƵƚŵĞŵƵĂƚƉĞŶũĞůĂƐĂŶLJĂŶŐƐŝƐƚĞŵĂƚŝƐĚĂŶŬŽŵƉƌĞŚĞŶƐŝĨŵĞŶŐĞŶĂŝ
ďĞƌďĂŐĂŝ ŚĂů ƐĞƉĞƌƚŝ ŬĞďŝũĂŬĂŶ ƉĞůĂŬƐĂŶĂĂŶ ƌĂƉĂƚ ďĂŝŬ ŝŶƚĞƌŶĂů ŵĂƵƉƵŶ ƌĂƉĂƚ ŐĂďƵŶŐĂŶ ďĞƌƐĂŵĂ ŝƌĞŬƐŝ͕
ƉĞŵďĂŐŝĂŶƚƵŐĂƐĚĂŶƚĂŶŐŐƵŶŐũĂǁĂď͕ƐĞƌƚĂŚĂŬĚĂŶǁĞǁĞŶĂŶŐĞǁĂŶ<ŽŵŝƐĂƌŝƐ͘
ĞǁĂŶ<ŽŵŝƐĂƌŝƐǁĂũŝďŵĞŶŐĂĚĂŬĂŶƌĂƉĂƚƉĂůŝŶŐŬƵƌĂŶŐƐĂƚƵŬĂůŝĚĂůĂŵĚƵĂďƵůĂŶLJĂŶŐĚĂƉĂƚĚŝůĂŶŐƐƵŶŐŬĂŶ
ĂƉĂďŝůĂ ĚŝŚĂĚŝƌŝ ŵĂLJŽƌŝƚĂƐ ĂƚĂƵ ĚƵĂ ƉĞƌƚŝŐĂ ĚĂƌŝ ƐĞůƵƌƵŚ ĂŶŐŐŽƚĂ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ͘ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ ũƵŐĂ
ŵĞŶŐĂĚĂŬĂŶƌĂƉĂƚŐĂďƵŶŐĂŶƐĞĐĂƌĂƚĞƌĂƚƵƌĚĞŶŐĂŶŝƌĞŬƐŝ͕ĚĂŶũŝŬĂĚŝƉĞƌůƵŬĂŶƌĂƉĂƚĞǁĂŶ<ŽŵŝƐĂƌŝƐĚŝĂĚĂŬĂŶ
ƐĞƚĞůĂŚƌĂƉĂƚŐĂďƵŶŐĂŶ͕ũŝŬĂĚŝĂŶŐŐĂƉƉĞƌůƵŽůĞŚƐĂƚƵĂŶŐŐŽƚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐŵĞůĂůƵŝƉĞƌŵŝŶƚĂĂŶƚĞƌƚƵůŝƐĚĂƌŝ
ƐĂƚƵĂƚĂƵůĞďŝŚĂŶŐŐŽƚĂŝƌĞŬƐŝĂƚĂƵũŝŬĂĚŝŵŝŶƚĂŽůĞŚƐĂƚƵĂƚĂƵůĞďŝŚƉĞŵĞŐĂŶŐƐĂŚĂŵLJĂŶŐ ďĞƌƐĂŵĂͲƐĂŵĂ
ŵĞŵŝůŝŬŝƐĞƉĞƌƐĞƉƵůƵŚĚĂƌŝƐĞůƵƌƵŚƐĂŚĂŵLJĂŶŐĚŝŬĞůƵĂƌŬĂŶŽůĞŚWĞƌƐĞƌŽĂŶĚĞŶŐĂŶŚĂŬƐƵĂƌĂLJĂŶŐƐĂŚ͘
<ĞƉƵƚƵƐĂŶ ZĂƉĂƚ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ ĚŝďƵĂƚ ďĞƌĚĂƐĂƌŬĂŶ ŬĞƉƵƚƵƐĂŶ ďĞƌƐĂŵĂ͘ ĂůĂŵ ŚĂů ŬĞƉƵƚƵƐĂŶ ƚŝĚĂŬ
ŵĞŶĐĂƉĂŝŵƵĨĂŬĂƚ͕ŵĂŬĂŬĞƉƵƚƵƐĂŶĂŬĂŶĚŝďƵĂƚĚĞŶŐĂŶĐĂƌĂƉĞŵƵŶŐƵƚĂŶƐƵĂƌĂĚĞŶŐĂŶůĞďŝŚĚĂƌŝƐĞƚĞŶŐĂŚ
ĚĂƌŝũƵŵůĂŚĂŶŐŐŽƚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐLJĂŶŐŚĂĚŝƌĚĂůĂŵƌĂƉĂƚ͘^ĞƚŝĂƉĂŶŐŐŽƚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐLJĂŶŐŵĞŵƉƵŶLJĂŝ
ďĞŶƚƵƌĂŶŬĞƉĞŶƚŝŶŐĂŶƉĂĚĂŬĞƉƵƚƵƐĂŶLJĂŶŐĚŝďƵĂƚƚŝĚĂŬďŽůĞŚŵĞŵďĞƌŝŬĂŶƐƵĂƌĂĂƚĂƐŬĞƉƵƚƵƐĂŶLJĂŶŐĂŬĂŶ
ĚŝďƵĂƚƚĞƌƐĞďƵƚ͘ĞǁĂŶ<ŽŵŝƐĂƌŝƐũƵŐĂĚĂƉĂƚŵĞŵďƵĂƚŬĞƉƵƚƵƐĂŶLJĂŶŐƐĂŚĚĂŶŵĞŶŐŝŬĂƚƚĂŶƉĂŵĞŶŐĂĚĂŬĂŶ
ƌĂƉĂƚ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ ƌĞƐŵŝ͕ ĚĞŶŐĂŶ ƐLJĂƌĂƚ ďĂŚǁĂ ƐĞŵƵĂ ĂŶŐŐŽƚĂ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ ƚĞůĂŚ ŵĞŵďĞƌŝŬĂŶ
ƉĞƌƐĞƚƵũƵĂŶƚĞƌƚƵůŝƐĂƚĂƐƵƐƵůĂŶƚĞƌƐĞďƵƚĚĂŶŵĞŶĂŶĚĂƚĂŶŐĂŶŝĚŽŬƵŵĞŶ LJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͘<ĞƉƵƚƵƐĂŶLJĂŶŐ
ĚŝďƵĂƚĚĞŶŐĂŶĐĂƌĂĚĞŵŝŬŝĂŶŵĞŵŝůŝŬŝŬĞŬƵĂƚĂŶLJĂŶŐƐĂŵĂĚĞŶŐĂŶŬĞƉƵƚƵƐĂŶLJĂŶŐĚŝďƵĂƚƐĞĐĂƌĂƐĂŚĚĂůĂŵ
ƌĂƉĂƚĞǁĂŶ<ŽŵŝƐĂƌŝƐƌĞƐŵŝ͘
^ĂŵƉĂŝĚĞŶŐĂŶƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƐĂŵƉĂŝŬĂŶ͕ƌĂƉĂƚĞǁĂŶ<ŽŵŝƐĂƌŝƐĚŝĂĚĂŬĂŶƐĞďĂŶLJĂŬ ϴƉĞƌƚĞŵƵĂŶ
ĚĞŶŐĂŶƚŝŶŐŬĂƚŬĞŚĂĚŝƌĂŶƉĞƌĂŶŐŐŽƚĂƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
:ƵŵůĂŚ<ĞŚĂĚŝƌĂŶƉĞƌŶŐŐŽƚĂ WĞƌƐĞŶƚĂƐĞ<ĞŚĂĚŝƌĂŶƉĞƌŶŐŐŽƚĂ;йͿ
:ƵƐĂŬ<ĞƌƚŽǁŝĚũŽũŽ ϴ ϭϬϬй
'ƵŶĂǁĂŶ;'ƵŶĂǁĂŶ ĨĨĞŶĚŝͿ ϴ ϭϬϬй
dƌŝLJĂŶĂ/ƐŬĂŶĚĂƌƐũĂŚ ϴ ϭϬϬй
WĞůĂŬƐĂŶĂĂŶdƵŐĂƐ<ŽŵŝƐĂƌŝƐƐĞůĂŵĂϭ;ƐĂƚƵͿƚĂŚƵŶƚĞƌĂŬŚŝƌ
ĞǁĂŶ<ŽŵŝƐĂƌŝƐWĞƌƐĞƌŽĂŶƚĞůĂŚŵĞůĂŬƐĂŶĂŬĂŶƐĞůƵƌƵŚƚƵŐĂƐĚĂŶƚĂŶŐŐƵŶŐũĂǁĂďƐĞĐĂƌĂŽƉƚŝŵĂůĂŐĂƌŬĞŐŝĂƚĂŶ
ŬĞƉĞŶŐƵƌƵƐĂŶWĞƌƐĞƌŽĂŶLJĂŶŐĚŝũĂůĂŶŬĂŶŝƌĞŬƐŝƐĞŶĂŶƚŝĂƐĂďĞƌũĂůĂŶůĂŶĐĂƌ͘ĞƌŝŬƵƚĂĚĂůĂŚƐĞƌĂŶŐŬĂŝĂŶŬĞŐŝĂƚĂŶ
LJĂŶŐƚĞůĂŚĚŝůĂŬƵŬĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐƐĞŚƵďƵŶŐĂŶĚĞŶŐĂŶĨƵŶŐƐŝƉĞŶŐĂǁĂƐĂŶŶLJĂ͕ĂŶƚĂƌĂůĂŝŶ͗
• DĞůĂŬƐĂŶĂŬĂŶƚƵŐĂƐƉĞŶŐĂǁĂƐĂŶĚĂŶŵĞŵďĞƌŝŬĂŶĂƌĂŚĂŶͬŶĂƐŝŚĂƚŬĞƉĂĚĂŝƌĞŬƐŝ͖
• DĞůĂŬƵŬĂŶƉĞŶŐĂǁĂƐĂŶƚĞƌŚĂĚĂƉŝƌĞŬƐŝĂŐĂƌŬĞƉĞŶƚŝŶŐĂŶƐĞŵƵĂƉŝŚĂŬƐĞůĂůƵƚĞƌũĂŐĂ͖
• DĞŶLJƵƐƵŶ ůĂƉŽƌĂŶ ŬĞŐŝĂƚĂŶ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ ƐĞďĂŐĂŝ ďĂŐŝĂŶ ĚĂƌŝ ůĂƉŽƌĂŶ ƉĞŶĞƌĂƉĂŶ dĂƚĂ <ĞůŽůĂ
WĞƌƵƐĂŚĂĂŶLJĂŶŐďĂŝŬ͖
• DĞŵĂŶƚĂƵĞĨĞŬƚŝǀŝƚĂƐƉĞŶĞƌĂƉĂŶdĂƚĂ<ĞůŽůĂWĞƌƵƐĂŚĂĂŶLJĂŶŐĂŝŬ͖
93
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PT INDOMOBIL FINANCE INDONESIA
• DĞŵďĞƌŝ ƉĞƌƐĞƚƵũƵĂŶ ĚĂůĂŵ ŚĂů ĞǁĂŶ WĞŶŐĂǁĂƐ ^LJĂƌŝĂŚ ŵĞŵĞƌůƵŬĂŶ ďĂŶƚƵĂŶ ĂŶŐŐŽƚĂ ŬŽŵŝƚĞ LJĂŶŐ
ƐĞĐĂƌĂƐƚƌƵŬƚƵƌĂůďĞƌĂĚĂĚŝďĂǁĂŚĞǁĂŶ<ŽŵŝƐĂƌŝƐ͖ĚĂŶ
• DĞŵĂƐƚŝŬĂŶ ďĂŚǁĂ ŝƌĞŬƐŝ ŵĞŶŝŶĚĂŬůĂŶũƵƚŝ ƐĞƚŝĂƉ ƚĞŵƵĂŶ ĂƵĚŝƚ ĚĂŶ ƌĞŬŽŵĞŶĚĂƐŝ LJĂŶŐ ĚŝďĞƌŝŬĂŶ ŽůĞŚ
ƵĚŝƚ/ŶƚĞƌŶĂů͕ĂƵĚŝƚŽƌĞŬƐƚĞƌŶĂů͕ƐĞƌƚĂŚĂƐŝůƉĞŶŐĂǁĂƐĂŶK:<ĚĂŶͬĂƚĂƵŚĂƐŝůƉĞŶŐĂǁĂƐĂŶŽƚŽƌŝƚĂƐůĂŝŶ͘
dŝĚĂŬĂĚĂŬĞƉĞŶƚŝŶŐĂŶůĂŝŶLJĂŶŐďĞƌƐŝĨĂƚŵĂƚĞƌŝĂůĚŝůƵĂƌŬĂƉĂƐŝƚĂƐŶLJĂƐĞďĂŐĂŝĂŶŐŐŽƚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐƚĞƌŬĂŝƚ
WĞŶĂǁĂƌĂŶhŵƵŵ ĨĞŬďĞƌƐŝĨĂƚƵƚĂŶŐĂƚĂƵƉĞŶĐĂƚĂƚĂŶŶLJĂĚŝƵƌƐĂ ĨĞŬ͘
dŝĚĂŬĂĚĂŚĂůLJĂŶŐĚĂƉĂƚŵĞŶŐŚĂŵďĂƚŬĞŵĂŵƉƵĂŶĂŶŐŐŽƚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶƚƵŐĂƐĚĂŶ
ƚĂŶŐŐƵŶŐũĂǁĂďŶLJĂƐĞďĂŐĂŝĂŶŐŐŽƚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐĚĞŵŝŬĞƉĞŶƚŝŶŐĂŶWĞƌƐĞƌŽĂŶ͘
<ĞƚĞŶƚƵĂŶƚĞƌŬĂŝƚ/ŵďĂůĂŶ<ĞƌũĂ^ĞƚĞůĂŚDĂƐĂ<ĞƌũĂĞƌĂŬŚŝƌĚŝĂƚƵƌĚĂůĂŵWĞƌĂƚƵƌĂŶWĞƌƵƐĂŚĂĂŶWĞƌƐĞƌŽĂŶ͘
'ĂũŝĚĂŶƚƵŶũĂŶŐĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐĚŝƚĞŶƚƵŬĂŶŽůĞŚZhW^ƚĂŚƵŶĂŶ͘ĞƐĂƌŶLJĂƌĞŵƵŶĞƌĂƐŝLJĂŶŐĚŝƚĞƌŝŵĂŽůĞŚ
ĞǁĂŶ<ŽŵŝƐĂƌŝƐƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯŵĂƐŝŶŐͲŵĂƐŝŶŐĂĚĂůĂŚ
ƐĞďĞƐĂƌZƉϵ͘ϱϵϮũƵƚĂĚĂŶZƉϵ͘ϳϱϵũƵƚĂ͘
Direksi
ŝƌĞŬƐŝLJĂŶŐŵĞƌƵƉĂŬĂŶŽƌŐĂŶƉĞŶƚŝŶŐWĞƌƐĞƌŽĂŶLJĂŶŐďĞƌƚĂŶŐŐƵŶŐũĂǁĂďƉĞŶƵŚĂƚĂƐũĂůĂŶŶLJĂŬĞƉĞŶŐƵƌƵƐĂŶ
ƉĞƌƵƐĂŚĂĂŶƐĞƐƵĂŝĚĞŶŐĂŶǀŝƐŝĚĂŶŵŝƐŝWĞƌƐĞƌŽĂŶ͘^ĞůĂŝŶŝƚƵ͕ŝƌĞŬƐŝũƵŐĂďĞƌƉĞƌĂŶƐĞďĂŐĂŝǁĂŬŝůƉĞƌƵƐĂŚĂĂŶ
ďĂŝŬĚŝĚĂůĂŵŵĂƵƉƵŶĚŝůƵĂƌƉĞŶŐĂĚŝůĂŶƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶŶŐŐĂƌĂŶĂƐĂƌWĞƌƐĞƌŽĂŶ͘
ĂůĂŵŵĞŶũĂůĂŶŬĂŶƚƵŐĂƐĚĂŶƚĂŶŐŐƵŶŐũĂǁĂďŶLJĂ͕ŝƌĞŬƐŝďĞƌƉĞĚŽŵĂŶƉĂĚĂŬĞƚĞŶƚƵĂŶWĞĚŽŵĂŶŝƌĞŬƐŝLJĂŶŐ
ŵĞŵƵĂƚďĞƌďĂŐĂŝŚĂůƐĞƉĞƌƚŝƚĂŶŐŐƵŶŐũĂǁĂď͕ŬĞǁĂũŝďĂŶ͕ǁĞǁĞŶĂŶŐ͕ŚĂŬ͕ƐĞƌƚĂƉĞŶŐĂƚƵƌĂŶƌĂƉĂƚĚĂŶƚĂƚĂĐĂƌĂ
ŚƵďƵŶŐĂŶŬĞƌũĂĂŶƚĂƌĂŝƌĞŬƐŝĚĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐ͘
ŝƌĞŬƐŝǁĂũŝďŵĞŶŐĂĚĂŬĂŶƌĂƉĂƚŝƌĞŬƐŝƐĞĐĂƌĂďĞƌŬĂůĂƉĂůŝŶŐŬƵƌĂŶŐƐĂƚƵŬĂůŝĚĂůĂŵƐĞƚŝĂƉďƵůĂŶ͘ŝƌĞŬƐŝũƵŐĂ
ǁĂũŝď ŵĞŶŐĂĚĂŬĂŶ ƌĂƉĂƚ ŐĂďƵŶŐĂŶ ŝƌĞŬƐŝ ďĞƌƐĂŵĂ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ ƐĞĐĂƌĂ ďĞƌŬĂůĂ ƉĂůŝŶŐ ŬƵƌĂŶŐ ƐĂƚƵ ŬĂůŝ
ĚĂůĂŵ ĞŵƉĂƚ ďƵůĂŶ͘ ZĂƉĂƚ ŝƌĞŬƐŝ ĚŝĂĚĂŬĂŶ Ěŝ ƚĞŵƉĂƚ ŬĞĚƵĚƵŬĂŶ WĞƌƐĞƌŽĂŶ ĂƚĂƵ ƚĞŵƉĂƚ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ
WĞƌƐĞƌŽĂŶ͘ZĂƉĂƚŝƌĞŬƐŝĚĂƉĂƚũƵŐĂĚŝůĂŬƵŬĂŶĚĞŶŐĂŶŵĞŶŐŐƵŶĂŬĂŶƐĂƌĂŶĂƚĞůĞƉŽŶŬŽŶĨĞƌĞŶƐŝ;ƚĞůĞĐŽŶĨĞƌĞŶĐĞͿ
ĂƚĂƵƐŝƐƚĞŵŬŽŵƵŶŝŬĂƐŝůĂŝŶƐĞũĞŶŝƐĚŝŵĂŶĂƉĂƌĂĂŶŐŐŽƚĂŝƌĞŬƐŝLJĂŶŐďĞƌƉĂƌƚŝƐŝƉĂƐŝĚĂůĂŵƌĂƉĂƚƚĞƌƐĞďƵƚĚĂƉĂƚ
ƐĂůŝŶŐďĞƌŬŽŵƵŶŝŬĂƐŝĚĂŶƉĂƌƚŝƐŝƉĂƐŝĚĞŶŐĂŶĐĂƌĂĚĞŵŝŬŝĂŶĚŝĂŶŐŐĂƉƐĞďĂŐĂŝŬĞŚĂĚŝƌĂŶƐĞĐĂƌĂůĂŶŐƐƵŶŐĚĂůĂŵ
ƌĂƉĂƚ͘
ZĂƉĂƚŝƌĞŬƐŝĚŝƉŝŵƉŝŶŽůĞŚWƌĞƐŝĚĞŶŝƌĞŬƚƵƌ͘ĂůĂŵŚĂůWƌĞƐŝĚĞŶŝƌĞŬƚƵƌƚŝĚĂŬĚĂƉĂƚŚĂĚŝƌĂƚĂƵďĞƌŚĂůĂŶŐĂŶ
ŬĂƌĞŶĂƐĞďĂďĂƉĂƉƵŶ͕ŚĂůŵĂŶĂƚŝĚĂŬƉĞƌůƵĚŝďƵŬƚŝŬĂŶŬĞƉĂĚĂƉŝŚĂŬůĂŝŶ͕ŵĂŬĂƌĂƉĂƚŝƌĞŬƐŝĂŬĂŶĚŝƉŝŵƉŝŶŽůĞŚ
ƐĞŽƌĂŶŐĂŶŐŐŽƚĂŝƌĞŬƐŝLJĂŶŐĚŝƉŝůŝŚŽůĞŚĚĂŶĚŝĂŶƚĂƌĂƉĂƌĂĂŶŐŐŽƚĂŝƌĞŬƐŝLJĂŶŐŚĂĚŝƌ͘
^ĞŽƌĂŶŐ ĂŶŐŐŽƚĂ ŝƌĞŬƐŝ ĚĂƉĂƚ ĚŝǁĂŬŝůŝ ĚĂůĂŵ ƌĂƉĂƚ ŝƌĞŬƐŝ ŚĂŶLJĂ ŽůĞŚ ƐĞŽƌĂŶŐ ĂŶŐŐŽƚĂ ŝƌĞŬƐŝ ůĂŝŶŶLJĂ
ďĞƌĚĂƐĂƌŬĂŶƐƵƌĂƚŬƵĂƐĂ͘ĂůĂŵŚĂůƉĞŵďĞƌŝŬƵĂƐĂƚŝĚĂŬŵĞŵďĞƌŝŬĂŶŬƵĂƐĂŬŚƵƐƵƐ͕ŵĂŬĂƉĞŵďĞƌŝĂŶŬƵĂƐĂ
ƚĞƌƐĞďƵƚďĞƌƐŝĨĂƚŵƵƚůĂŬ͘ZĂƉĂƚŝƌĞŬƐŝĂĚĂůĂŚƐĂŚĚĂŶďĞƌŚĂŬŵĞŶŐĂŵďŝůŬĞƉƵƚƵƐĂŶLJĂŶŐŵĞŶŐŝŬĂƚĂƉĂďŝůĂůĞďŝŚ
ĚĂƌŝƐĞƚĞŶŐĂŚďĂŐŝĂŶĚĂƌŝũƵŵůĂŚƐĞůƵƌƵŚĂŶŐŐŽƚĂŝƌĞŬƐŝŚĂĚŝƌĂƚĂƵĚŝǁĂŬŝůŝĚĂůĂŵƌĂƉĂƚ͘
ZĂƉĂƚŝƌĞŬƐŝĚŝŚĂĚŝƌŝŽůĞŚĂŶŐŐŽƚĂŝƌĞŬƐŝ͕ŬĞĐƵĂůŝĂƉĂďŝůĂĚŝƉĞƌůƵŬĂŶĚĂƉĂƚũƵŐĂĚŝŚĂĚŝƌŝŽůĞŚƉĞũĂďĂƚƐĂƚƵůĞǀĞů
ĚŝďĂǁĂŚŝƌĞŬƐŝĂƚĂƵƉĞũĂďĂƚůĂŝŶLJĂŶŐĚŝƚƵŐĂƐŬĂŶŽůĞŚWƌĞƐŝĚĞŶŝƌĞŬƚƵƌ͘
^ĂŵƉĂŝ ĚĞŶŐĂŶ ƚĂŶŐŐĂů WƌŽƐƉĞŬƚƵƐ ŝŶŝ ĚŝƐĂŵƉĂŝŬĂŶ͕ ƌĂƉĂƚ ŝƌĞŬƐŝ ĚŝĂĚĂŬĂŶ ƐĞďĂŶLJĂŬ ϭϲ ƉĞƌƚĞŵƵĂŶ ĚĞŶŐĂŶ
ƚŝŶŐŬĂƚŬĞŚĂĚŝƌĂŶƉĞƌĂŶŐŐŽƚĂƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
:ƵŵůĂŚ<ĞŚĂĚŝƌĂŶƉĞƌŶŐŐŽƚĂ WĞƌƐĞŶƚĂƐĞ<ĞŚĂĚŝƌĂŶƉĞƌŶŐŐŽƚĂ;йͿ
ĚLJ,ĂŶĚŽũŽ^ĂŶƚŽƐŽ ϭϳ ϭϬϬй
WĂƵůƵƐ͘>ĂƌŽƐĂ ϭϳ ϭϬϬй
^ŝĨƌĂsŝŽŶĂdũĂŚũŽŶŽ ϭϳ ϭϬϬй
WĞůĂŬƐĂŶĂĂŶdƵŐĂƐŝƌĞŬƐŝƐĞůĂŵĂϭ;ƐĂƚƵͿƚĂŚƵŶƚĞƌĂŬŚŝƌ
• DĞŶũĂůĂŶŬĂŶ ĚĂŶ ďĞƌƚĂŶŐŐƵŶŐ ũĂǁĂď ĂƚĂƐ ƉĞŶŐƵƌƵƐĂŶ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŬĞƉĞŶƚŝŶŐĂŶ WĞƌƐĞƌŽĂŶ ƐĞƐƵĂŝ
ĚĞŶŐĂŶŵĂŬƐƵĚĚĂŶƚƵũƵĂŶWĞƌƐĞƌŽĂŶLJĂŶŐĚŝƚĞƚĂƉŬĂŶĚĂůĂŵŶŐŐĂƌĂŶĂƐĂƌ͘
94
Page 115
PT INDOMOBIL FINANCE INDONESIA
• ŵĞŵĂƚƵŚŝ ƉĞƌĂƚƵƌĂŶ ƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ͕ ŶŐŐĂƌĂŶ ĂƐĂƌ͕ ĚĂŶ ƉĞƌĂƚƵƌĂŶ ŝŶƚĞƌŶĂů ůĂŝŶ ĚĂƌŝ WĞƌƐĞƌŽĂŶ
ĚĂůĂŵŵĞůĂŬƐĂŶĂŬĂŶƚƵŐĂƐŶLJĂ͘
• DĞŶŐĞůŽůĂWĞƌƐĞƌŽĂŶƐĞƐƵĂŝĚĞŶŐĂŶŬĞǁĞŶĂŶŐĂŶĚĂŶƚĂŶŐŐƵŶŐũĂǁĂďŶLJĂ͘
• DĞŵĂƐƚŝŬĂŶ ĂŐĂƌ WĞƌƐĞƌŽĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ ŬĞƉĞŶƚŝŶŐĂŶ ƐĞŵƵĂ ƉŝŚĂŬ͕ ŬŚƵƐƵƐŶLJĂ ŬĞƉĞŶƚŝŶŐĂŶ ĞďŝƚƵƌ͕
ŬƌĞĚŝƚƵƌ͕ĚĂŶͬĂƚĂƵWĞŵĂŶŐŬƵ<ĞƉĞŶƚŝŶŐĂŶůĂŝŶŶLJĂ͘
• DĞŵĂƐƚŝŬĂŶĂŐĂƌŝŶĨŽƌŵĂƐŝŵĞŶŐĞŶĂŝWĞƌƐĞƌŽĂŶĚŝďĞƌŝŬĂŶŬĞƉĂĚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐĚĂŶW^ƐĞĐĂƌĂƚĞƉĂƚ
ǁĂŬƚƵĚĂŶůĞŶŐŬĂƉ
• DĞŵďĂŶƚƵ ĚĂŶ ŵĞŶLJĞĚŝĂŬĂŶ ĨĂƐŝůŝƚĂƐ ĚĂŶͬĂƚĂƵ ƐƵŵďĞƌ ĚĂLJĂ ƵŶƚƵŬ ŬĞůĂŶĐĂƌĂŶ ƉĞůĂŬƐĂŶĂĂŶ ƚƵŐĂƐ ĚĂŶ
ǁĞǁĞŶĂŶŐKƌŐĂŶWĞƌƐĞƌŽĂŶĚĂŶW^͘
• ĂůĂŵ ŵĞŶũĂůĂŶŬĂŶ ƚƵŐĂƐ ĚĂŶ ƚĂŶŐŐƵŶŐ ũĂǁĂď ĂƚĂƐ ƉĞŶŐƵƌƵƐĂŶ͕ ŝƌĞŬƐŝ ǁĂũŝď ŵĞŶLJĞůĞŶŐŐĂƌĂŬĂŶ ZhW^
ƚĂŚƵŶĂŶĚĂŶZhW^ůĂŝŶŶLJĂƐĞďĂŐĂŝŵĂŶĂĚŝĂƚƵƌĚĂůĂŵƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶĚĂŶŶŐŐĂƌĂŶĂƐĂƌ͘
• ^ĞƚŝĂƉĂŶŐŐŽƚĂŝƌĞŬƐŝǁĂũŝďŵĞůĂŬƐĂŶĂŬĂŶƚƵŐĂƐĚĂŶƚĂŶŐŐƵŶŐũĂǁĂďĚĞŶŐĂŶŝƚŝŬĂĚďĂŝŬ͕ƉĞŶƵŚƚĂŶŐŐƵŶŐ
ũĂǁĂď͕ĚĂŶŬĞŚĂƚŝͲŚĂƚŝĂŶ͘
• ĂůĂŵ ƌĂŶŐŬĂ ŵĞŶĚƵŬƵŶŐ ĞĨĞŬƚŝǀŝƚĂƐ ƉĞůĂŬƐĂŶĂĂŶ ƚƵŐĂƐ ĚĂŶ ƚĂŶŐŐƵŶŐ ũĂǁĂď͕ ŝƌĞŬƐŝ ĚĂƉĂƚ ŵĞŵďĞŶƚƵŬ
ŬŽŵŝƚĞ͘
• ĂůĂŵŚĂůĚŝďĞŶƚƵŬŬŽŵŝƚĞ͕ŝƌĞŬƐŝǁĂũŝďŵĞůĂŬƵŬĂŶĞǀĂůƵĂƐŝƚĞƌŚĂĚĂƉŬŝŶĞƌũĂŬŽŵŝƚĞƐĞƚŝĂƉ ĂŬŚŝƌƚĂŚƵŶ
ďƵŬƵ͘
<ĞƚĞŶƚƵĂŶƚĞƌŬĂŝƚ/ŵďĂůĂŶ<ĞƌũĂ^ĞƚĞůĂŚDĂƐĂ<ĞƌũĂĞƌĂŬŚŝƌĚŝĂƚƵƌĚĂůĂŵWĞƌĂƚƵƌĂŶWĞƌƵƐĂŚĂĂŶWĞƌƐĞƌŽĂŶ͘
'ĂũŝĚĂŶƚƵŶũĂŶŐĂŶŝƌĞŬƐŝĚŝƚĞŶƚƵŬĂŶŽůĞŚZhW^ƚĂŚƵŶĂŶ͘ĞƐĂƌŶLJĂƌĞŵƵŶĞƌĂƐŝLJĂŶŐĚŝƚĞƌŝŵĂŽůĞŚŝƌĞŬƐŝƵŶƚƵŬ
ƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯŵĂƐŝŶŐͲŵĂƐŝŶŐĂĚĂůĂŚƐĞďĞƐĂƌZƉϲ͘ϱϮϲ
ũƵƚĂĚĂŶZƉϲ͘ϮϮϲũƵƚĂ͘
Pada tanggal diterbitkannya Prospektus ini, anggota Direksi Perseroan tidak memiliki kepentingan lain yang
bersifat material di luar kapasitasnya sebagai anggota Direksi terkait Penawaran Umum Efek bersifat ekuitas atau
pencatatannya di Bursa Efek dan tidak terdapat hal-hal yang dapat menghambat kemampuan anggota Direksi
Perseroan untuk melaksanakan tugas dan tanggung jawabnya sebagai anggota Direksi demi kepentingan
Perseroan.
Sekretaris Perusahaan
Sekretaris Perusahaan merupakan organ Perusahaan yang bertanggung jawab langsung kepada Direksi dan
berperan penting dalam mendukung pelaksanaan tugas Direksi untuk mengelola Perseroan. Selain itu, Sekretaris
Perusahaan juga bertindak sebagai penghubung antara Perseroan dengan pemegang saham, regulator dan
pemangku kepentingan lainnya, serta memastikan kepatuhan Perseroan terhadap peraturan perundang-
undangan yang berlaku.
WĞƌƐĞƌŽĂŶƚĞůĂŚŵĞŶƵŶũƵŬĚĂŶŵĞŶŐĂŶŐŬĂƚ^ĞŬƌĞƚĂƌŝƐWĞƌƵƐĂŚĂĂŶWĞƌƐĞƌŽĂŶƐĞƐƵĂŝĚĞŶŐĂŶ<ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ
ŝƌĞŬƐŝWd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ EŽŵŽƌ͗ ϬϬϭͬKͬ/D&/ͬ///ͬϮϬϮϱƚĂŶŐŐĂůϬϱDĂƌĞƚϮϬϮϱ͘ ĞƌĚĂƐĂƌŬĂŶ
<ĞƉƵƚƵƐĂŶƚĞƌƐĞďƵƚ͕ŵĂŬĂ^ĞŬƌĞƚĂƌŝƐWĞƌƵƐĂŚĂĂŶWĞƌƐĞƌŽĂŶĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
EĂŵĂ ͗ ĚLJ,ĂŶĚŽũŽ^ĂŶƚŽƐŽ
EŽŵŽƌdĞůĞƉŽŶ ͗ ϬϮϭͲϮϵϭϴϱϰϬϬ
ͲŵĂŝů ͗ ŽƌƉŽƌĂƚĞ͘ƐĞĐƌĞƚĂƌLJΛŝŶĚŽŵŽďŝůĨŝŶĂŶĐĞ͘ĐŽŵ
ůĂŵĂƚ ͗ /ŶĚŽŵŽďŝůdŽǁĞƌ>ƚ͘ϴ͕:ů͘D͘d͘,ĂƌLJŽŶŽ<Ăǀ͘
ϭϭ͕:ĂŬĂƌƚĂdŝŵƵƌϭϯϯϯϬ
tĂƌŐĂEĞŐĂƌĂ/ŶĚŽŶĞƐŝĂ͕ϲϴƚĂŚƵŶ͕
ĞƌŬĞǁĂƌŐĂŶĞŐĂƌĂĂŶ /ŶĚŽŶĞƐŝĂ͕ ďĞůŝĂƵ ŵĞƌĂŝŚ ŐĞůĂƌ ^ĂƌũĂŶĂ ŬŽŶŽŵŝ DĂŶĂũĞŵĞŶ ĚĂƌŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ
WĂƌĂŚLJĂŶŐĂŶ ƉĂĚĂ ƚĂŚƵŶ ϭϵϴϬ͕ ĚĂŶ ŵĞƌĂŝŚ ŐĞůĂƌ DĂƐƚĞƌ ƉĂĚĂ ƉƌŽŐƌĂŵ DĂŐŝƐƚĞƌ DĂŶĂũĞŵĞŶ <ŽŶƐĞŶƚƌĂƐŝ
ŵĂŶĂũĞŵĞŶ/ŶƚĞƌŶĂƐŝŽŶĂůĚĂƌŝ^ĞŬŽůĂŚdŝŶŐŐŝDĂŶĂũĞŵĞŶWƌĂƐĞƚŝLJĂDƵůLJĂƚĂŚƵŶϭϵϵϲ͘
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WĞŶŐĂůĂŵĂŶWĞŬĞƌũĂĂŶ͗
WĞƌŝŽĚĞ WĞƌƵƐĂŚĂĂŶ WŽƐŝƐŝ
ϭϵϵϯͲϭϵϵϲ WdtŝƌĂƐǁĂƐƚĂ'ĞŵŝůĂŶŐ/ŶĚŽŶĞƐŝĂ ƐƐŝƐƚĂŶƚ'D&ŝŶĂŶĐĞ
ϭϵϵϲͲϭϵϵϴ WdZŝƐũĂĚƌĂƐĂůŝ^ƚLJƌŝŶĚŽ ^ĞŶŝŽƌ&ŝŶĂŶĐĞDĂŶĂŐĞƌ
ϭϵϵϴͲϮϬϬϳ WdŝŶĂƌ^ŝŶĂƌŵŝƚLJ sŝĐĞ'DKƉĞƌĂƚŝŽŶ
ϮϬϬϳͲϮϬϭϰ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ KƉĞƌĂƚŝŽŶhŶŝƚ,ĞĂĚ
ϮϬϭϰͲϮϬϮϬ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ ŝƌĞŬƚƵƌ
ϮϬϭϱͲϮϬϮϯ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ ŽƌƉŽƌĂƚĞ^ĞĐƌĞƚĂƌLJ
ϮϬϮϬͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ WƌĞƐŝĚĞŶŝƌĞŬƚƵƌ
WĞůĂƚŝŚĂŶ͗
• Seminar International The Fed’s Interest and Enhancing Market Share through Technologies Transformation
ƚĂŶŐŐĂůϲŐƵƐƚƵƐϮϬϮϰŽůĞŚƐŽƐŝĂƐŝWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ/ŶĚŽŶĞƐŝĂ͘
• ^ĞŵŝŶĂƌEĂƐŝŽŶĂů ĐŽŶŽŵŝĐKƵƚůŽŽŬ ϮϬϮϱ ƚĂŶŐŐĂůϭKŬƚŽďĞƌϮϬϮϰŽůĞŚƐŽƐŝĂƐŝWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ
/ŶĚŽŶĞƐŝĂ͘
ĞƌĚĂƐĂƌŬĂŶWĞƌĂƚƵƌĂŶKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶEŽŵŽƌϯϱͬWK:<͘ϬϰͬϮϬϭϰƚĞŶƚĂŶŐ^ĞŬƌĞƚĂƌŝƐWĞƌƵƐĂŚĂĂŶ ŵŝƚĞŶ
ĂƚĂƵWĞƌƵƐĂŚĂĂŶWƵďůŝŬ͕^ĞŬƌĞƚĂƌŝƐWĞƌƵƐĂŚĂĂŶŵĞŵŝůŝŬŝƚƵŐĂƐĚĂŶƚĂŶŐŐƵŶŐũĂǁĂďƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭ͘ DĞŶŐŝŬƵƚŝƉĞƌŬĞŵďĂŶŐĂŶWĂƐĂƌDŽĚĂůŬŚƵƐƵƐŶLJĂƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵĚŝďŝĚĂŶŐ
WĂƐĂƌDŽĚĂů͘
Ϯ͘ DĞŵďĞƌŝŵĂƐƵŬĂŶŬĞƉĂĚĂŝƌĞŬƐŝĚĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐWĞƌƐĞƌŽĂŶƵŶƚƵŬŵĞŵĂƚƵŚŝƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲ
ƵŶĚĂŶŐĂŶĚŝďŝĚĂŶŐWĂƐĂƌDŽĚĂů͘
ϯ͘ DĞŵďĂŶƚƵŝƌĞŬƐŝĚĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐĚĂůĂŵƉĞůĂŬƐĂŶĂĂŶƚĂƚĂŬĞůŽůĂƉĞƌƵƐĂŚĂĂŶ͘
ϰ͘ ^ĞďĂŐĂŝƉĞŶŐŚƵďƵŶŐĂŶƚĂƌĂWĞƌƐĞƌŽĂŶĚĞŶŐĂŶƉĞŵĞŐĂŶŐƐĂŚĂŵWĞƌƐĞƌŽĂŶ͕KƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶ͕ĚĂŶ
ƉĞŵĂŶŐŬƵŬĞƉĞŶƚŝŶŐĂŶůĂŝŶŶLJĂ͖ĚĂŶ
ϱ͘ DĞŶũĂŐĂŬĞƌĂŚĂƐŝĂĂŶĚŽŬƵŵĞŶ͕ĚĂƚĂĚĂŶŝŶĨŽƌŵĂƐŝLJĂŶŐďĞƌƐŝĨĂƚƌĂŚĂƐŝĂŬĞĐƵĂůŝĚĂůĂŵƌĂŶŐŬĂŵĞŵĞŶƵŚŝ
ŬĞǁĂũŝďĂŶƐĞƐƵĂŝĚĞŶŐĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶĂƚĂƵĚŝƚĞŶƚƵŬĂŶůĂŝŶĚĂůĂŵƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲ
ƵŶĚĂŶŐĂŶ͘
Komite Audit
<ŽŵŝƚĞ ĂƵĚŝƚ ŵĞƌƵƉĂŬĂŶ ƐĂůĂŚ ƐĂƚƵ ƵŶƐƵƌ ƉĞŶĚƵŬƵŶŐ LJĂŶŐ ŵĞŵŝůŝŬŝ ƉĞƌĂŶ ƉĞŶƚŝŶŐ ĚĂůĂŵ ŵĞŶĚƵŬƵŶŐ
ƉĞůĂŬƐĂŶĂĂŶĨƵŶŐƐŝƉĞŶŐĂǁĂƐĂŶLJĂŶŐĚŝũĂůĂŶŬĂŶŽůĞŚĞǁĂŶ<ŽŵŝƐĂƌŝƐƐĞƌƚĂũƵŐĂďĞƌƉĞƌĂŶĚĂůĂŵŵĞŵĂƐƚŝŬĂŶ
ƚĞƌůĂŬƐĂŶĂŶLJĂ ŝŵƉůĞŵĞŶƚĂƐŝ '' ĚĂŶ ŵĞŶũĂŵŝŶ ŬĞƉĂƚƵŚĂŶ WĞƌƐĞƌŽĂŶ ƚĞƌŚĂĚĂƉ ƉĞƌĂƚƵƌĂŶ ƉĞƌƵŶĚĂŶŐͲ
ƵŶĚĂŶŐĂŶ LJĂŶŐ ďĞƌůĂŬƵ͘ WĞŵďĞŶƚƵŬĂŶ <ŽŵŝƚĞ ƵĚŝƚ WĞƌƐĞƌŽĂŶ ĚŝůĂŬƵŬĂŶ ĚĞŶŐĂŶ ŵĞŶŐĂĐƵ ƉĂĚĂ WK:<
EŽ͘ ϯϬͬWK:<͘ϬϱͬϮϬϭϰ ƚĞŶƚĂŶŐ dĂƚĂ <ĞůŽůĂ WĞƌƵƐĂŚĂĂŶ LJĂŶŐ ĂŝŬ ďĂŐŝ WĞƌƵƐĂŚĂĂŶ WĞŵďŝĂLJĂĂŶ ƐĞďĂŐĂŝŵĂŶĂ
ƚĞůĂŚ ĚŝƵďĂŚ ŵĞŶũĂĚŝ WK:< EŽ͘ ϮϵͬWK:<͘ϬϱͬϮϬϮϬ ƚĞŶƚĂŶŐ WĞƌƵďĂŚĂŶ ĂƚĂƐ WĞƌĂƚƵƌĂŶ KƚŽƌŝƚĂƐ :ĂƐĂ <ĞƵĂŶŐĂŶ
EŽŵŽƌϯϬͬWK:<͘ϬϱͬϮϬϭϰƚĞŶƚĂŶŐdĂƚĂ<ĞůŽůĂWĞƌƵƐĂŚĂĂŶLJĂŶŐĂŝŬďĂŐŝWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ͘
<ĞƚƵĂ ͗ dƌŝLJĂŶĂ/ƐŬĂŶĚĂƌƐũĂŚ
ŶŐŐŽƚĂ ͗ sĞƌĂ/ŶƚĂŶŝĞĞǁŝ
ŶŐŐŽƚĂ ͗ ƚƚLJzƵŶŝĂǁĂƚŝ
dƌŝLJĂŶĂ/ƐŬĂŶĚĂƌƐũĂŚ
tĂƌŐĂEĞŐĂƌĂ/ŶĚŽŶĞƐŝĂ͕ϲϰƚĂŚƵŶ͕ďĞƌŐĞůĂƌ^ĂƌũĂŶĂ ŬŽŶŽŵŝDĂŶĂũĞŵĞŶĚĂƌŝhŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬWĂƌĂŚLJĂŶŐĂŶ
;ϭϵϴϱͿ͘WĂƐĐĂƐĂƌũĂŶĂũƵƌƵƐĂŶ ŬŽŶŽŵŝWĞŵďĂŶŐƵŶĂŶĚĂƌŝhŶŝǀĞƌƐŝƚĂƐ/ŶĚŽŶĞƐŝĂ;ϭϵϵϲͿ͘
sĞƌĂ/ŶƚĂŶŝĞĞǁŝ
tĂƌŐĂ EĞŐĂƌĂ /ŶĚŽŶĞƐŝĂ͕ ϰϲ ƚĂŚƵŶ͕ ďĞƌŐĞůĂƌ ^ĂƌũĂŶĂ ŬŽŶŽŵŝ ũƵƌƵƐĂŶ DĂŶĂũĞŵĞŶ ĚĂƌŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ
WĂƌĂŚLJĂŶŐĂŶ ;ϮϬϬϬͿ͕ WĂƐĐĂƐĂƌũĂŶĂ ŬŽŶŽŵŝ :ƵƌƵƐĂŶ DĂŶĂũĞŵĞŶ ĚĂƌŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ WĂƌĂŚLJĂŶŐĂŶ ;ϮϬϬϱͿ
ĚĂŶWĂƐĐĂƐĂƌũĂŶĂ ŬŽŶŽŵŝĚĂŶŝƐŶŝƐũƵƌƵƐĂŶDĂŶĂũĞŵĞŶĚĂƌŝhŶŝǀĞƌƐŝƚĂƐWĂĚũĂĚũĂƌĂŶ;ϮϬϮϬͿ͘
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WĞŶŐĂůĂŵĂŶWĞŬĞƌũĂĂŶ͗
• ŝǀŝƐŝZŝƐĞƚĚŝDĂƌŬƉůƵƐΘŽ͘
• DĂƌŬĞƚŝŶŐĚŝWdWƌŝŵĂ&ŝŶĂŶƐŝŝů^ĂƌĂŶĂ͘
• DĂƌŬĞƚŝŶŐĚŝWdĂŶŬĂŶĂŵŽŶ͘
• ŽƐĞŶDĂŶĂũĞŵĞŶ<ĞƵĂŶŐĂŶĚŝhŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬWĂƌĂŚLJĂŶŐĂŶ
ƚƚLJzƵŶŝĂǁĂƚŝ
tĂƌŐĂ EĞŐĂƌĂ /ŶĚŽŶĞƐŝĂ͕ ϱϮ ƚĂŚƵŶ͕ ďĞƌŐĞůĂƌ ^ĂƌũĂŶĂ ŬŽŶŽŵŝ ũƵƌƵƐĂŶ ŬƵŶƚĂŶƐŝ ĚĂƌŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ
WĂƌĂŚLJĂŶŐĂŶ;ϭϵϵϱͿĚĂŶWĂƐĐĂƐĂƌũĂŶĂĚĂƌŝ'ĞŽƌŐĞtĂƐŚŝŶŐƚŽŶhŶŝǀĞƌƐŝƚLJ;ϭϵϵϴͿ͘
WĞŶŐĂůĂŵĂŶWĞŬĞƌũĂĂŶ͗
• dƌĂŝŶĞƌĚŝhŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬWĂƌĂŚLJĂŶŐĂŶ͘
• dƌĂŝŶĞƌĞƌƚŝĨŝĞĚDĂŶĂŐĞŵĞŶƚĐĐŽƵŶƚĂŶƚ;DͿĚŝhŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬWĂƌĂŚLJĂŶŐĂŶ͘
• <ĞƚƵĂ>ĂďŽƌĂƚŽƌŝƵŵŬƵŶƚĂŶƐŝĚŝhŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬWĂƌĂŚLJĂŶŐĂŶ͘
• ŽƐĞŶĚŝhŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬWĂƌĂŚLJĂŶŐĂŶ͘
• &ŝŶĂŶĐŝĂůŶĂůLJƐƚĚŝEĞdžƚĞů/ŶĐ͕͘h^͘
ĞƌĚĂƐĂƌŬĂŶ WŝĂŐĂŵ <ŽŵŝƚĞ ƵĚŝƚ WĞƌƐĞƌŽĂŶ͕ <ŽŵŝƚĞ ƵĚŝƚ ďĞƌƚƵŐĂƐ ƵŶƚƵŬ ŵĞŵďĞƌŝŬĂŶ ƉĞŶĚĂƉĂƚ ĚĂŶ
ŵĞŵďĂŶƚƵ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ ŵĞŶŐŝĚĞŶƚŝĨŝŬĂƐŝ ŚĂůͲŚĂů LJĂŶŐ ŵĞŵĞƌůƵŬĂŶ ƉĞƌŚĂƚŝĂŶ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ͕ ĚĂŶ
ŵĞůĂŬƐĂŶĂŬĂŶƚƵŐĂƐͲƚƵŐĂƐĂŝŶLJĂŶŐďĞƌŬĂŝƚĂŶĚĞŶŐĂŶƚƵŐĂƐĞǁĂŶ<ŽŵŝƐĂƌŝƐ͕ĂƚĂƵLJĂŶŐĚŝďƵƚƵŚŬĂŶŽůĞŚĞǁĂŶ
<ŽŵŝƐĂƌŝƐ͘
ĂůĂŵŵĞŶũĂůĂŶŬĂŶĨƵŶŐƐŝŶLJĂ͕<ŽŵŝƚĞƵĚŝƚŵĞŵŝůŝŬŝƚƵŐĂƐĚĂŶƚĂŶŐŐƵŶŐũĂǁĂďƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭ͘ DĞůĂŬƵŬĂŶƉĞŶĞůĂĂŚĂŶĂƚĂƐŝŶĨŽƌŵĂƐŝŬĞƵĂŶŐĂŶLJĂŶŐĂŬĂŶĚŝŬĞůƵĂƌŬĂŶWĞƌƐĞƌŽĂŶŬĞƉĂĚĂƉƵďůŝŬĚĂŶͬĂƚĂƵ
ƉŝŚĂŬŽƚŽƌŝƚĂƐůĂŝŶŶLJĂĂŶƚĂƌĂůĂŝŶůĂƉŽƌĂŶŬĞƵĂŶŐĂŶ͕ƉƌŽLJĞŬƐŝĚĂŶůĂƉŽƌĂŶůĂŝŶŶLJĂƚĞƌŬĂŝƚĚĞŶŐĂŶŝŶĨŽƌŵĂƐŝ
ŬĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶ͘
Ϯ͘ DĞůĂŬƵŬĂŶƉĞŶĞůĂĂŚĂŶĂƚĂƐŬĞƚĂĂƚĂŶWĞƌƐĞƌŽĂŶƚĞƌŚĂĚĂƉƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐ
ďĞƌŚƵďƵŶŐĂŶĚĞŶŐĂŶŬĞŐŝĂƚĂŶWĞƌƐĞƌŽĂŶ͕ŬŚƵƐƵƐŶLJĂLJĂŶŐŵĞŶLJĂŶŐŬƵƚďŝĚĂŶŐĂŬƵŶƚĂŶƐŝĚĂŶŬĞƵĂŶŐĂŶ͘
ϯ͘ DĞŵďĞƌŝŬĂŶƉĞŶĚĂƉĂƚŝŶĚĞƉĞŶĚĞŶĚĂůĂŵŚĂůƚĞƌũĂĚŝƉĞƌďĞĚĂĂŶƉĞŶĚĂƉĂƚĂŶƚĂƌĂŵĂŶĂũĞŵĞŶĚĂŶ
ŬƵŶƚĂŶWƵďůŝŬĂƚĂƐũĂƐĂLJĂŶŐĚŝďĞƌŝŬĂŶŶLJĂ͘
ϰ͘ DĞŵďĞƌŝŬĂŶƌĞŬŽŵĞŶĚĂƐŝŬĞƉĂĚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐŵĞŶŐĞŶĂŝƉĞŶƵŶũƵŬŬĂŶŬƵŶƚĂŶWƵďůŝŬLJĂŶŐ
ĚŝĚĂƐĂƌŬĂŶƉĂĚĂŝŶĚĞƉĞŶĚĞŶƐŝ͕ƌƵĂŶŐůŝŶŐŬƵƉƉĞŶƵŐĂƐĂŶĚĂŶĨĞĞ͘
ϱ͘ DĞůĂŬƵŬĂŶƉĞŶĞůĂĂŚĂŶĂƚĂƐƉĞůĂŬƐĂŶĂĂŶƉĞŵĞƌŝŬĂĂŶŽůĞŚƵĚŝƚŽƌ/ŶƚĞƌŶĂůĚĂŶŵĞŶŐĂǁĂƐŝƉĞůĂŬƐĂŶĂŶ
ƚŝŶĚĂŬůĂŶũƵƚŽůĞŚŝƌĞŬƐŝĂƚĂƐƚĞŵƵĂŶƵĚŝƚŽƌ/ŶƚĞƌŶĂů͘
ϲ͘ DĞůĂŬƵŬĂŶƉĞŶĞůĂĂŚĂŶƚĞƌŚĂĚĂƉĂŬƚŝĨŝƚĂƐƉĞůĂŬƐĂŶĂŶŵĂŶĂũĞŵĞŶƌŝƐŝŬŽLJĂŶŐĚŝůĂŬƵŬĂŶŽůĞŚŝƌĞŬƐŝ͕
ĚĞŶŐĂŶďĞŬĞƌũĂƐĂŵĂĚĞŶŐĂŶ<ŽŬŵŝƚĞŶDĂŶĂũĞŵĞŶZĞƐŝŬŽWĞƌƐĞƌŽĂŶ͘
ϳ͘ DĞŶĞůĂĂŚĚĂŶŵĞŵďĞƌŝŬĂŶƐĂƌĂŶŬĞƉĂĚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐƚĞƌŬĂŝƚĚĞŶŐĂŶĂĚĂŶLJĂƉŽƚĞŶƐŝďĞŶƚƵƌĂŶ
ŬĞƉĞŶƚŝŶŐĂŶWĞƌƐĞƌŽĂŶ͘
ϴ͘ DĞŶũĂŐĂŬĞƌĂŚĂƐŝĂĂŶĚŽŬƵŵĞŶĚĂƚĂĚĂŶŝŶĨŽƌŵĂƐŝWĞƌƐĞƌŽĂŶ͘
^ĞůĂŵĂƚĂŚƵŶϮϬϮϰƐĂŵƉĂŝĚĞŶŐĂŶƚĂŶŐŐĂůĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝ͕ŬĞŐŝĂƚĂŶƵƚĂŵĂLJĂŶŐƚĞůĂŚĚŝůĂŬƵŬĂŶ
ŽůĞŚ<ŽŵŝƚĞƵĚŝƚĂŶƚĂƌĂůĂŝŶŵĞůŝƉƵƚŝ͗
ϭ͘ DĞŶŐĂĚĂŬĂŶƌĂƉĂƚ<ŽŵŝƚĞƵĚŝƚƐĞƚŝĂƉƚŝŐĂďƵůĂŶƐĞŬĂůŝ͖
Ϯ͘ DĞŶŐĞǀĂůƵĂƐŝŬŝŶĞƌũĂĂƵĚŝƚŽƌĞŬƐƚĞƌŶĂůĚĂŶŵĞŵďĞƌŝŬĂŶƌĞŬŽŵĞŶĚĂƐŝƉĞŶƵŶũƵŬĂŶĂƵĚŝƚŽƌĞŬƐƚĞƌŶĂůŬĞƉĂĚĂ
ĞǁĂŶ<ŽŵŝƐĂƌŝƐ͖
ϯ͘ DĞůĂŬƵŬĂŶ ĞǀĂůƵĂƐŝ ĂƚĂƐ ƉĞůĂŬƐĂŶĂĂŶ ŬĞƉĂƚƵŚĂŶ ƚĞƌŚĂĚĂƉ ŬĞƚĞŶƚƵĂŶ ĚĂŶ ƉĞƌĂƚƵƌĂŶ LJĂŶŐ ďĞƌůĂŬƵ ďĂŐŝ
ƉĞƌƵƐĂŚĂĂŶƉĞŵďŝĂLJĂĂŶƐĞƌƚĂƉĞƌƵƐĂŚĂĂŶƉƵďůŝŬ͖ĚĂŶ
ϰ͘ DĞŶŐĞǀĂůƵĂƐŝƉĞůĂŬƐĂŶĂĂŶƐŝƐƚĞŵƉĞŶŐĞŶĚĂůŝĂŶŝŶƚĞƌŶĂůĚĂŶƉĞůĂƉŽƌĂŶŬĞŐŝĂƚĂŶƵĚŝƚ/ŶƚĞƌŶĂů
^ĞƐƵĂŝWŝĂŐĂŵ<ŽŵŝƚĞƵĚŝƚ͕ƐĞďĂŐĂŝďĂŐŝĂŶĚĂƌŝƉĞůĂŬƐĂŶĂĂŶƚƵŐĂƐŶLJĂ͕<ŽŵŝƚĞƵĚŝƚǁĂũŝďŵĞŶŐĂĚĂŬĂŶƌĂƉĂƚ
ƐĞĐĂƌĂďĞƌŬĂůĂƉĂůŝŶŐŬƵƌĂŶŐƐĂƚƵŬĂůŝĚĂůĂŵϯ;ƚŝŐĂͿďƵůĂŶĚĂŶĚŝŚĂĚŝƌŝŽůĞŚůĞďŝŚĚĂƌŝЪ;ƐĂƚƵƉĞƌĚƵĂͿũƵŵůĂŚ
ĂŶŐŐŽƚĂ͘
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^ĂŵƉĂŝ ĚĞŶŐĂŶ ƚĂŶŐŐĂů WƌŽƐƉĞŬƚƵƐ ŝŶŝ ĚŝƐĂŵƉĂŝŬĂŶ͕ <ŽŵŝƚĞ ƵĚŝƚ ƚĞůĂŚ ŵĞŶŐĂĚĂŬĂŶ ƌĂƉĂƚ ƐĞďĂŶLJĂŬ ϲ ŬĂůŝ
ĚĞŶŐĂŶƚŝŶŐŬĂƚŬĞŚĂĚŝƌĂŶƉĞƌĂŶŐŐŽƚĂƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
:ƵŵůĂŚ<ĞŚĂĚŝƌĂŶƉĞƌŶŐŐŽƚĂ WĞƌƐĞŶƚĂƐĞ<ĞŚĂĚŝƌĂŶƉĞƌŶŐŐŽƚĂ;йͿ
dƌŝLJĂŶĂ/ƐŬĂŶĚĂƌƐũĂŚ ϲ ϭϬϬй
sĞƌĂ/ŶƚĂŶŝĞĞǁŝ ϲ ϭϬϬй
ƚƚLJzƵŶŝĂǁĂƚŝ ϲ ϭϬϬй
Komite Nominasi dan Remunerasi
WĞƌƐĞƌŽĂŶƚĞůĂŚŵĞŵŝůŝŬŝ<ŽŵŝƚĞZĞŵƵŶĞƌĂƐŝĚĂŶEŽŵŝŶĂƐŝƐĞďĂŐĂŝŵĂŶĂĚŝǁĂũŝďŬĂŶŽůĞŚWĞƌĂƚƵƌĂŶKƚŽƌŝƚĂƐ
:ĂƐĂ<ĞƵĂŶŐĂŶEŽ͘ϮϵͬWK:<͘ϬϱͬϮϬϮϬdĞŶƚĂŶŐWĞƌƵďĂŚĂŶƚĂƐWK:< EŽ͘ϯϬͬWK:<͘ϬϱͬϮϬϭϰdĞŶƚĂŶŐdĂƚĂ<ĞůŽůĂ
WĞƌƵƐĂŚĂĂŶLJĂŶŐĂŝŬĂŐŝWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶĚĂŶWK:<EŽ͘ϯϰͬWK:<͘ϬϰͬϮϬϭϰdĞŶƚĂŶŐ<ŽŵŝƚĞEŽŵŝŶĂƐŝ
ĚĂŶ ZĞŵƵŶĞƌĂƐŝ ŵŝƚĞŶ ĂƚĂƵ WĞƌƵƐĂŚĂĂŶ WƵďůŝŬ͘ ĞƌĚĂƐĂƌŬĂŶ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ
EŽ͘ϬϬϭͬKͬ/D&/ͬsͬϮϬϮϯƚĂŶŐŐĂůϭϳDĞŝϮϬϮϯ͕ƐƵƐƵŶĂŶĂŶŐŐŽƚĂ<ŽŵŝƚĞEŽŵŝŶĂƐŝĚĂŶZĞŵƵŶĞƌĂƐŝWĞƌƐĞƌŽĂŶ
ĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
<ĞƚƵĂ ͗ dƌŝLJĂŶĂ/ƐŬĂŶĚĂƌƐũĂŚ
ŶŐŐŽƚĂ͗ 'ƵŶĂǁĂŶ;'ƵŶĂǁĂŶ ĨĨĞŶĚŝͿ
ŶŐŐŽƚĂ͗ DĂƌůŝŶzƵůŝĂŶŝ
dƌŝLJĂŶĂ/ƐŬĂŶĚĂƌƐũĂŚ
hƐŝĂϲϰƚĂŚƵŶ͕ďĞƌŬĞǁĂƌŐĂŶĞŐĂƌĂĂŶ/ŶĚŽŶĞƐŝĂ͕ĚŝĂŶŐŬĂƚƐĞďĂŐĂŝ<ŽŵŝƐĂƌŝƐ/ŶĚĞƉĞŶĚĞŶWĞƌƐĞƌŽĂŶďĞƌĚĂƐĂƌŬĂŶ
ŬƚĂWĞƌŶLJĂƚĂĂŶ<ĞƉƵƚƵƐĂŶ ĚĂƌĂŶWĞŵĞŐĂŶŐ^ĂŚĂŵWd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂƐĞďĂŐĂŝƉĞŶŐŐĂŶƚŝZĂƉĂƚ
hŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵEŽ͘ϭϴƚĂŶŐŐĂůϭϮ:ƵŶŝϮϬϮϯďĞƐĞƌƚĂ^ƵƌĂƚWĞŶĞƌŝŵĂĂŶWĞŵďĞƌŝƚĂŚƵĂŶWĞƌƵďĂŚĂŶĂƚĂ
WĞƌƐĞƌŽĂŶĚĂƌŝ<ĞŵĞŶƚĞƌŝĂŶ,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂEŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϭϮϵϯϰϭƚĂŶŐŐĂůϮϬ:ƵŶŝϮϬϮϯ͘
ĞůŝĂƵŵĞƌĂŝŚŐĞůĂƌ^ĂƌũĂŶĂ ŬŽŶŽŵŝDĂŶĂũĞŵĞŶĚĂƌŝhŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬWĂƌĂŚLJĂŶŐĂŶƉĂĚĂƚĂŚƵŶϭϵϴϱ͕ĚĂŶ
ƉĂƐĐĂƐĂƌũĂŶĂũƵƌƵƐĂŶ ŬŽŶŽŵŝWĞŵďĂŶŐƵŶĂŶĚĂƌŝhŶŝǀĞƌƐŝƚĂƐ/ŶĚŽŶĞƐŝĂƉĂĚĂƚĂŚƵŶϭϵϵϲ͘ĞůŝĂƵƐĂĂƚŝŶŝũƵŐĂ
ŵĞŶũĂďĂƚ ƐĞďĂŐĂŝ ŽƐĞŶ Ěŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ WĂƌĂŚLJĂŶŐĂŶ ;ϭϵϴϲͲƐĞŬĂƌĂŶŐͿ͘ ^ĞďĞůƵŵŶLJĂ ďĞůŝĂƵ ŵĞŶũĂďĂƚ
ƐĞďĂŐĂŝ <ĞƚƵĂ WƌŽŐƌĂŵ ^ƚƵĚŝ ^ĂƌũĂŶĂ DĂŶĂũĞŵĞŶ ;ϮϬϭϲͲϮϬϭϵͿ͕ <ĞƚƵĂ WƌŽŐƌĂŵ ^ƚƵĚŝ DĂŐŝƐƚĞƌ DĂŶĂũĞŵĞŶ
;ϮϬϬϳͲϮϬϬϵͿ Ěŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ WĂƌĂŚLJĂŶŐĂŶ ĚĂŶ tĂŬŝů <ĞƚƵĂ ĞǁĂŶ WĞŶŐƵƉĂŚĂŶ <ŽƚĂŵĂĚLJĂ ĂŶĚƵŶŐ
;ϮϬϬϯͲϮϬϬϱͿ͘
'ƵŶĂǁĂŶ;'ƵŶĂǁĂŶ ĨĨĞŶĚŝͿ
hƐŝĂ ϱϰ ƚĂŚƵŶ͕ ďĞƌŬĞǁĂƌŐĂŶĞŐĂƌĂĂŶ /ŶĚŽŶĞƐŝĂ͕ ĚŝĂŶŐŬĂƚ ƐĞďĂŐĂŝ <ŽŵŝƐĂƌŝƐ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ
WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ WĞŵĞŐĂŶŐ ^ĂŚĂŵ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ ƐĞďĂŐĂŝ ƉĞŶŐŐĂŶƚŝ ZĂƉĂƚ
hŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵEŽ͘ϭϴƚĂŶŐŐĂůϭϮ:ƵŶŝϮϬϮϯďĞƐĞƌƚĂ^ƵƌĂƚWĞŶĞƌŝŵĂĂŶWĞŵďĞƌŝƚĂŚƵĂŶWĞƌƵďĂŚĂŶĂƚĂ
WĞƌƐĞƌŽĂŶĚĂƌŝ<ĞŵĞŶƚĞƌŝĂŶ,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂEŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϭϮϵϯϰϭƚĂŶŐŐĂůϮϬ:ƵŶŝϮϬϮϯ͘
ĞůŝĂƵ ŵĞƌĂŝŚ ŐĞůĂƌ ^ĂƌũĂŶĂ ŬŽŶŽŵŝ ŬƵŶƚĂŶƐŝ ĚĂƌŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ ƚŵĂũĂLJĂ :ĂŬĂƌƚĂ ƉĂĚĂ ƚĂŚƵŶ ϭϵϵϰ͘
ĞůŝĂƵ ďĞƌŐĂďƵŶŐ ĚĞŶŐĂŶ /ŶĚŽŵŽďŝů 'ƌŽƵƉ ƐĞũĂŬ ƚĂŚƵŶ ϮϬϬϱ ĚĂŶ ƐĂĂƚ ŝŶŝ ŵĞŶũĂďĂƚ ƐĞďĂŐĂŝ <ŽŵŝƐĂƌŝƐ ĚĂŶ
ŝƌĞŬƚƵƌĚŝďĞďĞƌĂƉĂĂŶĂŬƉĞƌƵƐĂŚĂĂŶ/ŶĚŽŵŽďŝů͘ĞƌŝŬƵƚĂĚĂůĂŚƌŝǁĂLJĂƚũĂďĂƚĂŶďĞůŝĂƵ͗
WĞŶŐĂůĂŵĂŶWĞŬĞƌũĂĂŶ͗
WĞƌŝŽĚĞ WĞƌƵƐĂŚĂĂŶ WŽƐŝƐŝ
ϭϵϵϯͲϭϵϵϲ WƌĂƐĞƚŝĂhƚŽŵŽΘŽ;ƌƚŚƵƌŶĚĞƌƐĞŶͿ ^ƵƉĞƌǀŝƐŽƌ
ϭϵϵϲͲϮϬϬϭ WdŚĂƌŵĂůĂ/ŶƚŝƵƚĂŵĂ 'ƌŽƵƉ&ŝŶĂŶĐŝĂůŽŶƚƌŽůůĞƌ
ϮϬϬϭͲϮϬϬϮ WdƌŐŚĂ<ĂƌLJĂWƌŝŵĂ/ŶĚƵƐƚƌLJdďŬ ,ĞĂĚŽĨ/ŶƚĞƌŶĂůƵĚŝƚ
ϮϬϬϮͲϮϬϬϱ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ ƐƐŝƐƚĂŶƚ&ŝŶĂŶĐĞŝƌĞĐƚŽƌ
ϮϬϬϱͲϮϬϬϴ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ 'ĞŶĞƌĂůDĂŶĂŐĞƌ
ϮϬϬϴͲϮϬϭϮ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ ŚŝĞĨ&ŝŶĂŶĐŝĂůKĨĨŝĐĞƌ
ϮϬϭϮͲϮϬϮϬ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ ŚŝĞĨ džĞĐƵƚŝǀĞKĨĨŝĐĞƌ
ϮϬϭϯͲϮϬϭϲ Wd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬ ŝƌĞŬƚƵƌ
ϮϬϭϲͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬ tĂŬŝůWƌĞƐŝĚĞŶŝƌĞŬƚƵƌ
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ϮϬϭϴͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů ŬƐƉƌĞƐdƌƵŬ <ŽŵŝƐĂƌŝƐ
ϮϬϮϬͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ <ŽŵŝƐĂƌŝƐ
ϮϬϮϬͲ^ĂĂƚŝŶŝ Wd^ŽůƵƐŝ/ŶĚŽŵŽďŝůWĞƌŬĂƐĂ WƌĞƐŝĚĞŶŝƌĞŬƚƵƌ
ϮϬϮϭͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ ŶŐŐŽƚĂ<ŽŵŝƚĞEŽŵŝŶĂƐŝĚĂŶZĞŵƵŶĞƌĂƐŝ
ϮϬϮϭͲ^ĂĂƚŝŶŝ Wd^DŽƌƉŽƌĂƚĂŵĂ <ŽŵŝƐĂƌŝƐ
ϮϬϮϭͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝůŝŶƚĂŶŽƌƉŽƌĂ <ŽŵŝƐĂƌŝƐ
ϮϬϮϭͲ^ĂĂƚŝŶŝ WdtĂŚĂŶĂ/ŶĚŽdƌĂĚĂDŽďŝůŝŶĚŽ <ŽŵŝƐĂƌŝƐ
ϮϬϮϭͲ^ĂĂƚŝŶŝ Wd<ŚĂƌŝƐŵĂDƵĚĂ <ŽŵŝƐĂƌŝƐ
ϮϬϮϮͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝůƵƐƐĂŶdƌƵĐŬŝŶŐ <ŽŵŝƐĂƌŝƐ
ϮϬϮϰͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů^ƵŬƐĞƐ/ŶƚĞƌŶĂƐŝŽŶĂůdďŬ ŝƌĞŬƚƵƌ
DĂƌůŝŶzƵůŝĂŶŝ
hƐŝĂ ϰϯ ƚĂŚƵŶ͕ ďĞƌŬĞǁĂƌŐĂŶĞŐĂƌĂĂŶ /ŶĚŽŶĞƐŝĂ͕ ĚŝƚƵŶũƵŬ ƐĞďĂŐĂŝ ĂŶŐŐŽƚĂ <ŽŵŝƚĞ EŽŵŝŶĂƐŝ ĚĂŶ ZĞŵƵŶĞƌĂƐŝ
WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ <ĞƉƵƚƵƐĂŶ ĚĂƌĂŶ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ WĞƌƐĞƌŽĂŶ ^ĞďĂŐĂŝ WĞŶŐŐĂŶƚŝ ZĂƉĂƚ <ŽŵŝƐĂƌŝƐ
ƚĞƌƚĂŶŐŐĂůϭDĂƌĞƚϮϬϮϯ͘
ĞůŝĂƵ ŵĞƌĂŝŚ ŐĞůĂƌ ^ĂƌũĂŶĂ ũƵƌƵƐĂŶ ŬƵƚĂŶƐŝ ĚĂƌŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ WĂƌĂŚLJĂŶŐĂŶ ƉĂĚĂ ƚĂŚƵŶ ϮϬϬϰ͘ ĞůŝĂƵ
ďĞƌŐĂďƵŶŐĚĞŶŐĂŶ/ŶĚŽŵŽďŝů'ƌŽƵƉƐĞũĂŬƚĂŚƵŶϮϬϬϰĚĂŶƐĂĂƚŝŶŝŵĞŶũĂďĂƚƐĞďĂŐĂŝƵĚŐĞƚΘdĂdžĞƉĂƌƚŵĞŶƚ
,ĞĂĚƐĞďĂŐĂŝDĂŶĂŐĞƌ;ϮϬϮϮͿ͘
WĞŶŐĂůĂŵĂŶWĞŬĞƌũĂĂŶ͗
WĞƌŝŽĚĞ WĞƌƵƐĂŚĂĂŶ WŽƐŝƐŝ
ϮϬϬϰͲϮϬϬϳ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ &ŝŶĂŶĐĞΘĐĐŽƵŶƚŝŶŐ^ƚĂĨĨ
ϮϬϬϴͲϮϬϬϵ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ ĐĐŽƵŶƚŝŶŐŽŽƌĚŝŶĂƚŽƌ
ϮϬϮϮͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ ƵĚŐĞƚΘdĂdžĞƉĂƌƚŵĞŶƚ,ĞĂĚ
ĞůŝĂƵ ƚŝĚĂŬ ƚĞƌĂĨŝůŝĂƐŝ ĚĞŶŐĂŶ ĂŶŐŐŽƚĂ ŬŽŵŝƚĞͲŬŽŵŝƚĞ ůĂŝŶŶLJĂ Ěŝ ďĂǁĂŚ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ͕ ĂŶŐŐŽƚĂ ĞǁĂŶ
<ŽŵŝƐĂƌŝƐŵĂƵƉƵŶƉĞŵĞŐĂŶŐƐĂŚĂŵƵƚĂŵĂĚĂŶƉĞŶŐĞŶĚĂůŝ͖ďĂŝŬůĂŶŐƐƵŶŐŵĂƵƉƵŶƚŝĚĂŬůĂŶŐƐƵŶŐ͘
ĞƌĚĂƐĂƌŬĂŶ WĞĚŽŵĂŶ <ŽŵŝƚĞ EŽŵŝŶĂƐŝ ĚĂŶ ZĞŵƵŶĞƌĂƐŝ WĞƌƐĞƌŽĂŶ ƚĂŶŐŐĂů ϭϰ EŽǀĞŵďĞƌ ϮϬϮϯ͕ <ŽŵŝƚĞ
EŽŵŝŶĂƐŝĚĂŶZĞŵƵŶĞƌĂƐŝŵĞŵŝůŝŬŝƚƵŐĂƐĚĂŶƚĂŶŐŐƵŶŐũĂǁĂďƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭ͘ dĞƌŬĂŝƚĚĞŶŐĂŶĨƵŶŐƐŝƌĞŵƵŶĞƌĂƐŝ͗
Ă͘ DĞŵďĞƌŝŬĂŶƌĞŬŽŵĞŶĚĂƐŝŬĞƉĂĚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐŵĞŶŐĞŶĂŝ͗
ŝ͘ ŬŽŵƉŽƐŝƐŝũĂďĂƚĂŶĂŶŐŐŽƚĂŝƌĞŬƐŝĚĂŶͬĂƚĂƵĂŶŐŐŽƚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐ͖
ŝŝ͘ ŬĞďŝũĂŬĂŶĚĂŶŬƌŝƚĞƌŝĂLJĂŶŐĚŝďƵƚƵŚŬĂŶĚĂůĂŵƉƌŽƐĞƐŶŽŵŝŶĂƐŝ͖ĚĂŶ
ŝŝŝ͘ ŬĞďŝũĂŬĂŶĞǀĂůƵĂƐŝŬŝŶĞƌũĂďĂŐŝĂŶŐŐŽƚĂŝƌĞŬƐŝĚĂŶͬĂƚĂƵĞǁĂŶ<ŽŵŝƐĂƌŝƐ
ď͘ DĞŵďĂŶƚƵ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ ŵĞůĂŬƵŬĂŶ ƉĞŶŝůĂŝĂŶ ŬŝŶĞƌũĂ ĂŶŐŐŽƚĂ ŝƌĞŬƐŝ ĚĂŶͬĂƚĂƵ ĂŶŐŐŽƚĂĞǁĂŶ
<ŽŵŝƐĂƌŝƐďĞƌĚĂƐĂƌŬĂŶƚŽůĂŬƵŬƵƌLJĂŶŐƚĞůĂŚĚŝƐƵƐƵŶƐĞďĂŐĂŝďĂŚĂŶĞǀĂůƵĂƐŝ͖
Đ͘ DĞŵďĞƌŝŬĂŶƌĞŬŽŵĞŶĚĂƐŝŬĞƉĂĚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐŵĞŶŐĞŶĂŝƉƌŽŐƌĂŵƉĞŶŐĞŵďĂŶŐĂŶŬĞŵĂŵƉƵĂŶ
ĂŶŐŐŽƚĂŝƌĞŬƐŝĚĂŶͬĂƚĂƵĞǁĂŶ<ŽŵŝƐĂƌŝƐ͖ĚĂŶ
Ě͘ DĞŵďĞƌŝŬĂŶƵƐƵůĂŶĐĂůŽŶLJĂŶŐŵĞŵĞŶƵŚŝƐLJĂƌĂƚƐĞďĂŐĂŝĂŶŐŐŽƚĂŝƌĞŬƐŝĚĂŶͬĂƚĂƵĂŶŐŐŽƚĂĞǁĂŶ
<ŽŵŝƐĂƌŝƐŬĞƉĂĚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐƵŶƚƵŬĚŝƐĂŵƉĂŝŬĂŶŬĞƉĂĚĂZhW^͘
Ϯ͘ dĞƌŬĂŝƚĚĞŶŐĂŶĨƵŶŐƐŝŶŽŵŝŶĂƐŝ͗
Ă͘ DĞŵďĞƌŝŬĂŶƌĞŬŽŵĞŶĚĂƐŝŬĞƉĂĚĂĚĞǁĂŶ<ŽŵŝƐĂƌŝƐŵĞŶŐĞŶĂŝ͗
ŝ͘ ƐƚƌƵŬƚƵƌƌĞŵƵŶĞƌĂƐŝ͖
ŝŝ͘ ŬĞďŝũĂŬĂŶĂƚĂƐƌĞŵƵŶĞƌĂƐŝ͖ĚĂŶ
ŝŝŝ͘ ďĞƐĂƌĂŶĂƚĂƐƌĞŵƵŶĞƌĂƐŝ͘
ď͘ DĞŵďĂŶƚƵĞǁĂŶ<ŽŵŝƐĂƌŝƐŵĞůĂŬƵŬĂŶƉĞŶŝůĂŝĂŶŬŝŶĞƌũĂĚĞŶŐĂŶŬĞƐĞƐƵĂŝĂŶƌĞŵƵŶĞƌĂƐŝLJĂŶŐĚŝƚĞƌŝŵĂ
ŵĂƐŝŶŐͲŵĂƐŝŶŐĂŶŐŐŽƚĂŝƌĞŬƐŝĚĂŶͬĂƚĂƵĂŶŐŐŽƚĂĞǁĂŶ<ŽŵŝƐĂƌŝƐ͘
^ĞƐƵĂŝ ĚĞŶŐĂŶ WĞĚŽŵĂŶ <ŽŵŝƚĞ EŽŵŝŶĂƐŝ ĚĂŶ ZĞŵƵŶĞƌĂƐŝ WĞƌƐĞƌŽĂŶ͕ ƐĞďĂŐĂŝ ďĂŐŝĂŶ ĚĂƌŝ ƉĞůĂŬƐĂŶĂĂŶ
ƚƵŐĂƐŶLJĂ͕<ŽŵŝƚĞEŽŵŝŶĂƐŝĚĂŶZĞŵƵŶĞƌĂƐŝǁĂũŝďŵĞŶŐĂĚĂŬĂŶƌĂƉĂƚƐĞĐĂƌĂďĞƌŬĂůĂƉĂůŝŶŐŬƵƌĂŶŐϭ;ƐĂƚƵͿŬĂůŝ
ĚĂůĂŵϰ;ĞŵƉĂƚͿďƵůĂŶĚĂŶĚŝŚĂĚŝƌŝŽůĞŚŵĂLJŽƌŝƚĂƐĚĂƌŝũƵŵůĂŚĂŶŐŐŽƚĂ<ŽŵŝƚĞEŽŵŝŶĂƐŝĚĂŶZĞŵƵŶĞƌĂƐŝ͕LJĂŶŐ
ŵĂŶĂƐĂůĂŚƐĂƚƵĚĂƌŝŵĂLJŽƌŝƚĂƐũƵŵůĂŚĂŶŐŐŽƚĂ<ŽŵŝƚĞEŽŵŝŶĂƐŝĚĂŶZĞŵƵŶĞƌĂƐŝŵĞƌƵƉĂŬĂŶ<ĞƚƵĂ<ŽŵŝƚĞ
EŽŵŝŶĂƐŝĚĂŶZĞŵƵŶĂƐŝ͘
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PT INDOMOBIL FINANCE INDONESIA
^ĂŵƉĂŝĚĞŶŐĂŶƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƐĂŵƉĂŝŬĂŶ͕<ŽŵŝƚĞEŽŵŝŶĂƐŝĚĂŶZĞŵƵŶĞƌĂƐŝƚĞůĂŚŵĞŶŐĂĚĂŬĂŶƌĂƉĂƚ
ƐĞďĂŶLJĂŬϰŬĂůŝĚĞŶŐĂŶƚŝŶŐŬĂƚŬĞŚĂĚŝƌĂŶƉĞƌĂŶŐŐŽƚĂƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
:ƵŵůĂŚ<ĞŚĂĚŝƌĂŶƉĞƌŶŐŐŽƚĂ WĞƌƐĞŶƚĂƐĞ<ĞŚĂĚŝƌĂŶƉĞƌŶŐŐŽƚĂ;йͿ
dƌŝLJĂŶĂ/ƐŬĂŶĚĂƌƐũĂŚ ϰ ϭϬϬй
'ƵŶĂǁĂŶ;'ƵŶĂǁĂŶ ĨĨĞŶĚŝͿ ϰ ϭϬϬй
DĂƌůŝŶzƵůŝĂŶŝ ϰ ϭϬϬй
Komite Pemantau Risiko
ĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚ ĚĂƌĂŶ<ĞƉƵƚƵƐĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐWŝĂŐĂŵ<ŽŵŝƚĞWĞŵĂŶƚĂƵZŝƐŝŬŽWd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ
/ŶĚŽŶĞƐŝĂ EŽŵŽƌ͗ ϬϬϮͬ^<ͬ <KDͲZDͬy/ͬϮϬϮϮ ƚĂŶŐŐĂů ϭ ĞƐĞŵďĞƌ ϮϬϮϮ͕ ŵĂŬĂ ƐƵƐƵŶĂŶ <ŽŵŝƚĞ WĞŵĂŶƚĂƵ
ZŝƐŝŬŽWĞƌƐĞƌŽĂŶĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
<ĞƚƵĂ ͗ dƌŝLJĂŶĂ/ƐŬĂŶĚĂƌƐũĂŚ
ŶŐŐŽƚĂ ͗ sĞƌĂ/ŶƚĂŶŝĞĞǁŝ
dƌŝLJĂŶĂ/ƐŬĂŶĚĂƌƐũĂŚ
tĂƌŐĂEĞŐĂƌĂ/ŶĚŽŶĞƐŝĂ͕ϲϰdĂŚƵŶ͕ĞƌŐĞůĂƌ^ĂƌũĂŶĂ ŬŽŶŽŵŝDĂŶĂũĞŵĞŶĚĂƌŝhŶŝǀĞƌƐŝƚĂƐ<ĂƚŽůŝŬWĂƌĂŚLJĂŶŐĂŶ
;ϭϵϴϱͿ͘WĂƐĐĂƐĂƌũĂŶĂũƵƌƵƐĂŶ ŬŽŶŽŵŝWĞŵďĂŶŐƵŶĂŶĚĂƌŝhŶŝǀĞƌƐŝƚĂƐ/ŶĚŽŶĞƐŝĂ;ϭϵϵϲͿ͘
sĞƌĂ/ŶƚĂŶŝĞĞǁŝ
tĂƌŐĂ EĞŐĂƌĂ /ŶĚŽŶĞƐŝĂ͕ ϰϲ ƚĂŚƵŶ͕ ďĞƌŐĞůĂƌ ^ĂƌũĂŶĂ ŬŽŶŽŵŝ ũƵƌƵƐĂŶ DĂŶĂũĞŵĞŶ ĚĂƌŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ
WĂƌĂŚLJĂŶŐĂŶ ;ϮϬϬϬͿ͕ WĂƐĐĂƐĂƌũĂŶĂ ŬŽŶŽŵŝ :ƵƌƵƐĂŶ DĂŶĂũĞŵĞŶ ĚĂƌŝ hŶŝǀĞƌƐŝƚĂƐ <ĂƚŽůŝŬ WĂƌĂŚLJĂŶŐĂŶ ;ϮϬϬϱͿ
ĚĂŶWĂƐĐĂƐĂƌũĂŶĂ ŬŽŶŽŵŝĚĂŶŝƐŶŝƐũƵƌƵƐĂŶDĂŶĂũĞŵĞŶĚĂƌŝhŶŝǀĞƌƐŝƚĂƐWĂĚũĂĚũĂƌĂŶ;ϮϬϮϬͿ͘
ĞƌĚĂƐĂƌŬĂŶWŝĂŐĂŵ<ŽŵŝƚĞWĞŵĂŶƚĂƵZŝƐŝŬŽWĞƌƐĞƌŽĂŶ͕<ŽŵŝƚĞWĞŵĂŶƚĂƵZŝƐŝŬŽŵĞŵŝůŝŬŝƚƵŐĂƐĚĂŶƚĂŶŐŐƵŶŐ
ũĂǁĂďƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭ͘ DĞŶŐĂǀĂůƵĂƐŝŬĞƐĞƐƵĂŝĂŶŬĞďŝũĂŬĂŶŵĂŶĂũĞŵĞŶƌŝƐŝŬŽĚĂůĂŵƉĞůĂŬƐĂŶĂĂŶŶLJĂ͘
Ϯ͘ DĞŵĂŶƚĂƵĚĂŶŵĞŶŐĞǀĂůƵĂƐŝƉĞůĂŬƐĂŶĂĂŶƚƵŐĂƐŬŽŵŝƚĞŵĂŶĂũĞŵĞŶƌŝƐŝŬŽĚĂŶƐĂƚƵĂŶŬĞƌũĂŵĂŶĂũĞŵĞŶ
ƌŝƐŝŬŽ͘
ϯ͘ ĂƉĂƚŵĞŶŐĂŬƐĞƐĚŽŬƵŵĞŶ͕ĚĂƚĂĚĂŶŝŶĨŽƌŵĂƐŝWĞƌƵƐĂŚĂĂŶƐĞƐƵĂŝƚƵŐĂƐĚĂŶƚĂŶŐŐƵŶŐũĂǁĂď͘
ϰ͘ ĞƌǁĞŶĂŶŐ ƵŶƚƵŬ ďĞƌŬŽŵƵŶŝŬĂƐŝ ĚĞŶŐĂŶ ƉĞũĂďĂƚ LJĂŶŐ ŵĞŶũĂůĂŶŬĂŶ ĨƵŶŐƐŝ ŵĂŶĂũĞŵĞŶ ƌŝƐŝŬŽ͕ <ŽŵŝƚĞ
DĂŶĂũĞŵĞŶZŝƐŝŬŽĚĂŶĨƵŶŐƐŝůĂŝŶŶLJĂLJĂŶŐĚŝƉĂŶĚĂŶŐƉĞƌůƵ͘
ϱ͘tĞǁĞŶĂŶŐĚĂŶƚĂŶŐŐƵŶŐũĂǁĂďůĂŝŶŶLJĂƐĞƐƵĂŝĚĞŶŐĂŶŬĞďƵƚƵŚĂŶƉĞƌƵƐĂŚĂĂŶĚĂŶŬĞƚĞŶƚƵĂŶK:<͘
^ĞƐƵĂŝ WŝĂŐĂŵ <ŽŵŝƚĞ WĞŵĂŶƚĂƵ ZŝƐŝŬŽ͕ƐĞďĂŐĂŝ ďĂŐŝĂŶ ĚĂƌŝ ƉĞůĂŬƐĂŶĂĂŶ ƚƵŐĂƐŶLJĂ͕ <ŽŵŝƚĞ WĞŵĂŶƚĂƵ ZŝƐŝŬŽ
ǁĂũŝď ŵĞŶŐĂĚĂŬĂŶ ƌĂƉĂƚ ƐĞĐĂƌĂ ďĞƌŬĂůĂ ƉĂůŝŶŐ ŬƵƌĂŶŐ ϭ ;ƐĂƚƵͿ ŬĂůŝ ĚĂůĂŵ ϲ ;ĞŶĂŵͿ ďƵůĂŶ ĚĂŶ ĚŝŚĂĚŝƌŝ ŽůĞŚ
ŵĂLJŽƌŝƚĂƐĚĂƌŝũƵŵůĂŚĂŶŐŐŽƚĂ<ŽŵŝƚĞWĞŵĂŶƚĂƵZŝƐŝŬŽ͕LJĂŶŐŵĂŶĂƐĂůĂŚƐĂƚƵĚĂƌŝŵĂLJŽƌŝƚĂƐũƵŵůĂŚĂŶŐŐŽƚĂ
<ŽŵŝƚĞDĂŶĂũĞŵĞŶZŝƐŝŬŽŵĞƌƵƉĂŬĂŶ<ĞƚƵĂ<ŽŵŝƚĞDĂŶĂũĞŵĞŶZŝƐŝŬŽ͘
^ĂŵƉĂŝĚĞŶŐĂŶƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƐĂŵƉĂŝŬĂŶ͕<ŽŵŝƚĞWĞŵĂŶƚĂƵZŝƐŝŬŽƚĞůĂŚŵĞŶŐĂĚĂŬĂŶƌĂƉĂƚƐĞďĂŶLJĂŬ
ϭϬŬĂůŝĚĞŶŐĂŶƚŝŶŐŬĂƚŬĞŚĂĚŝƌĂŶƉĞƌĂŶŐŐŽƚĂƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
:ƵŵůĂŚ<ĞŚĂĚŝƌĂŶƉĞƌŶŐŐŽƚĂ WĞƌƐĞŶƚĂƐĞ<ĞŚĂĚŝƌĂŶƉĞƌŶŐŐŽƚĂ;йͿ
dƌŝLJĂŶĂ/ƐŬĂŶĚĂƌƐũĂŚ ϭϬ ϭϬϬй
sĞƌĂ/ŶƚĂŶŝĞĞǁŝ ϭϬ ϭϬϬй
Internal Audit
WĞƌƐĞƌŽĂŶŵĞŵŝůŝŬŝWŝĂŐĂŵhŶŝƚƵĚŝƚ/ŶƚĞƌŶĂůĚĂŶďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚ<ĞƉƵƚƵƐĂŶƚĞŶƚĂŶŐWĞŶŐĂŶŐŬĂƚĂŶ<ĞƉĂůĂ
/ŶƚĞƌŶĂů ƵĚŝƚ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ /ŶĚŽŶĞƐŝĂ EŽ͘ ϬϬϭͬ^<Ͳ>'>ͬ/D&/ͬy//ͬϮϬϮϯ ƚĂŶŐŐĂů ϮϮ ĞƐĞŵďĞƌ ϮϬϮϯ͘
ĞƌĚĂƐĂƌŬĂŶ<ĞƉƵƚƵƐĂŶƚĞƌƐĞďƵƚ͕ŵĂŬĂ<ĞƉĂůĂ/ŶƚĞƌŶĂůƵĚŝƚWĞƌƐĞƌŽĂŶĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
<ĞƉĂůĂ/ŶƚĞƌŶĂůƵĚŝƚ ͗ /ŶĚƌĂ
100
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PT INDOMOBIL FINANCE INDONESIA
WĞŵďĞŶƚƵŬĂŶWŝĂŐĂŵhŶŝƚƵĚŝƚ/ŶƚĞƌŶĂůƚĞůĂŚŵĞŵĞŶƵŚŝWĞƌĂƚƵƌĂŶKƚŽƌŝƚĂƐ:ĂƐĂ<ĞƵĂŶŐĂŶZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ
EŽ͘ϱϲͬWK:<͘ϬϰͬϮϬϭϱƚĞŶƚĂŶŐWĞŵďĞŶƚƵŬĂŶĚĂŶWĞĚŽŵĂŶWĞŶLJƵƐƵŶĂŶWŝĂŐĂŵhŶŝƚƵĚŝƚ/ŶƚĞƌŶĂů͘
/ŶĚƌĂ
tĂƌŐĂEĞŐĂƌĂ/ŶĚŽŶĞƐŝĂ͕ ϰϴƚĂŚƵŶ͕ĞƌŐĞůĂƌ^ĂƌũĂŶĂDĂŶĂũĞŵĞŶ/ŶĨŽƌŵĂƚŝŬĂhŶŝǀĞƌƐŝƚĂƐ'ƵŶĂĚĂƌŵĂ;ϮϬϬϬͿ
ĚŝĂŶŐŬĂƚŵĞŶũĂĚŝ,ĞĂĚŽĨ/ŶƚĞƌŶĂůƵĚŝƚWĞƌƐĞƌŽĂŶƐĞũĂŬƚĂŚƵŶϮϬϬϵ͘
WĞŶŐĂůĂŵĂŶWĞŬĞƌũĂĂŶ͗
WĞƌŝŽĚĞ WĞƌƵƐĂŚĂĂŶ WŽƐŝƐŝ
ϮϬϬϮͲϮϬϬϯ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ ^LJƐƚĞŵĂŶĚWƌŽĐĞĚƵƌĞ
ϮϬϬϯͲϮϬϬϵ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ /ŶƚĞƌŶĂůƵĚŝƚ
ϮϬϬϵͲ^ĂĂƚŝŶŝ Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ /ŶƚĞƌŶĂůƵĚŝƚ,ĞĂĚ
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ƚĞŶƚĂŶŐWĞŵďĞŶƚƵŬĂŶĚĂŶWĞĚŽŵĂŶWĞŶLJƵƐƵŶĂŶWŝĂŐĂŵhŶŝƚƵĚŝƚ/ŶƚĞƌŶĂů͕ƵĚŝƚ/ŶƚĞƌŶĂůŵĞŶŐĞŵďĂŶŐƚƵŐĂƐ
ĚĂŶƚĂŶŐŐƵŶŐũĂǁĂď͕ĂŶƚĂƌĂůĂŝŶ͗
ϭ͘ DĞŶLJƵƐƵŶĚĂŶŵĞůĂŬƐĂŶĂŬĂŶƌĞŶĐĂŶĂĂƵĚŝƚŝŶƚĞƌŶĂůƚĂŚƵŶĂŶ͖
Ϯ͘ DĞŶŐƵũŝĚĂŶŵĞŶŐĞǀĂůƵĂƐŝƉĞůĂŬƐĂŶĂĂŶƉĞŶŐĞŶĚĂůŝĂŶŝŶƚĞƌŶĂůĚĂŶƐŝƐƚĞŵŵĂŶĂũĞŵĞŶƌŝƐŝŬŽƐĞƐƵĂŝĚĞŶŐĂŶ
ŬĞďŝũĂŬĂŶƉĞƌƵƐĂŚĂĂŶ͖
ϯ͘ DĞůĂŬƵŬĂŶ ƉĞŵĞƌŝŬƐĂĂŶ ĚĂŶ ƉĞŶŝůĂŝĂŶ ĂƚĂƐ ĞĨŝƐŝĞŶƐŝ ĚĂŶ ĞĨĞŬƚŝǀŝƚĂƐ Ěŝ ďŝĚĂŶŐ ŬĞƵĂŶŐĂŶ͕ ĂŬƵŶƚĂŶƐŝ͕
ŽƉĞƌĂƐŝŽŶĂů͕ƐƵŵďĞƌĚĂLJĂŵĂŶƵƐŝĂ͕ƉĞŵĂƐĂƌĂŶ͕ƚĞŬŶŽůŽŐŝŝŶĨŽƌŵĂƐŝ͕ĚĂŶŬĞŐŝĂƚĂŶůĂŝŶŶLJĂ͖
ϰ͘ DĞŵďĞƌŝŬĂŶ ƐĂƌĂŶ ƉĞƌďĂŝŬĂŶ ĚĂŶ ŝŶĨŽƌŵĂƐŝ LJĂŶŐ ŽďũĞŬƚŝĨ ƚĞŶƚĂŶŐ ŬĞŐŝĂƚĂŶ LJĂŶŐ ĚŝƉĞƌŝŬƐĂ ƉĂĚĂ ƐĞŵƵĂ
ƚŝŶŐŬĂƚŵĂŶĂũĞŵĞŶ͖
ϱ͘ DĞŵďƵĂƚůĂƉŽƌĂŶŚĂƐŝůĂƵĚŝƚĚĂŶŵĞŶLJĂŵƉĂŝŬĂŶůĂƉŽƌĂŶƚĞƌƐĞďƵƚŬĞƉĂĚĂWƌĞƐŝĚĞŶŝƌĞŬƚƵƌĚĂŶĞǁĂŶ
<ŽŵŝƐĂƌŝƐ͖
ϲ͘ DĞŵĂŶƚĂƵ͕ŵĞŶŐĂŶĂůŝƐŝƐĚĂŶŵĞůĂƉŽƌŬĂŶƉĞůĂŬƐĂŶĂĂŶƚŝŶĚĂŬůĂŶũƵƚƉĞƌďĂŝŬĂŶLJĂŶŐƚĞůĂŚĚŝƐĂƌĂŶŬĂŶ͖
ϳ͘ ĞŬĞƌũĂƐĂŵĂĚĞŶŐĂŶ<ŽŵŝƚĞƵĚŝƚ͖
ϴ͘ DĞŶLJƵƐƵŶƉƌŽŐƌĂŵƵŶƚƵŬŵĞŶŐĞǀĂůƵĂƐŝŵƵƚƵŬĞŐŝĂƚĂŶĂƵĚŝƚŝŶƚĞƌŶĂůLJĂŶŐĚŝůĂŬƵŬĂŶŶLJĂ͖ĚĂŶ
9. DĞůĂŬƵŬĂŶƉĞŵĞƌŝŬƐĂĂŶŬŚƵƐƵƐĂƉĂďŝůĂĚŝƉĞƌůƵŬĂŶ͘
Komite Manajemen Risiko
Komite Manajemen Risiko (“KMR”) bertugas memberikan rekomendasi kepada Presiden Direktur dalam
ƉĞŶLJƵƐƵŶĂŶ ƐƚƌĂƚĞŐŝ ĚĂŶ ƉĞŶĞƌĂƉĂŶ DĂŶĂũĞŵĞŶ ZŝƐŝŬŽ ƐĞƌƚĂ ƉĞŶLJĞƐƵĂŝĂŶ ƉĞůĂŬƐĂŶĂĂŶ DĂŶĂũĞŵĞŶ ZŝƐŝŬŽ
ďĞƌĚĂƐĂƌŬĂŶŚĂƐŝůĞǀĂůƵĂƐŝƉĞůĂŬƐĂŶĂĂŶDĂŶĂũĞŵĞŶZŝƐŝŬŽ͘<DZWĞƌƐĞƌŽĂŶĚŝďĞŶƚƵŬĚĞŶŐĂŶďĞƌůĂŶĚĂƐŬĂŶƉĂĚĂ
WK:< EŽ͘ ϰϮ dĂŚƵŶ ϮϬϮϰ ƚĞŶƚĂŶŐ WĞŶĞƌĂƉĂŶ DĂŶĂũĞŵĞŶ ZŝƐŝŬŽ ƐĞďĂŐĂŝ ƉĞƌƵďĂŚĂŶ ĚĂƌŝ WK:<
EŽ͘ ϰϰͬWK:<͘ϬϱͬϮϬϮϬ ƚĞŶƚĂŶŐ WĞŶĞƌĂƉĂŶ DĂŶĂũĞŵĞŶ ZŝƐŝŬŽ ĂŐŝ >ĞŵďĂŐĂ :ĂƐĂ <ĞƵĂŶŐĂŶ EŽŶͲĂŶŬ͕ ^ K:<
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EŽ͘ϮϵͬWK:<͘ϬϱͬϮϬϮϬƚĞŶƚĂŶŐWĞƌƵďĂŚĂŶƚĂƐWK:<EŽ͘ϯϬͬWK:<͘ϬϱͬϮϬϭϰdĞŶƚĂŶŐdĂƚĂ<ĞůŽůĂWĞƌƵƐĂŚĂŶLJĂŶŐ
ĂŝŬĂŐŝWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ͘WĞƌƐĞƌŽĂŶŵĞŵŝůŝŬŝWŝĂŐĂŵ<ŽŵŝƚĞDĂŶĂũĞŵĞŶZŝƐŝŬŽLJĂŶŐĚŝŐƵŶĂŬĂŶĚĂůĂŵ
ŵĞŶŐĂƚƵƌ ůŝŶŐŬƵƉ ƚƵŐĂƐ͕ ƚĂŶŐŐƵŶŐ ũĂǁĂď ĚĂŶ ǁĞǁĞŶĂŶŐ <ŽŵŝƚĞ DĂŶĂũĞŵĞŶ ZŝƐŝŬŽ ƐĞďĂŐĂŝŵĂŶĂ ĨƵŶŐƐŝŶLJĂ
ƵŶƚƵŬŵĞŶĚƵŬƵŶŐŝƌĞŬƐŝĚĂůĂŵŚĂůƉĞůĂŬƐĂŶĂĂŶƉĞŶĞƌĂƉĂŶŵĂŶĂũĞŵĞŶƌŝƐŝŬŽƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶK:<
ĚĂŶŬĞďƵƚƵŚĂŶWĞƌƵƐĂŚĂĂŶ͘^ƵƐƵŶĂŶ<ŽŵŝƚĞDĂŶĂũĞŵĞŶZŝƐŝŬŽWĞƌƐĞƌŽĂŶĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
<ĞĂŶŐŐŽƚĂĂŶ <DZ ĚŝďĞŶƚƵŬ ŽůĞŚ ŝƌĞŬƐŝ ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌĐĂŶƚƵŵ ĚĂůĂŵ WŝĂŐĂŵ <DZ EŽ͘ ϬϬϭͬ^<ͬ/ZͲ
ZDͬ/ͬϮϬϮϰ ƚĂŶŐŐĂů ϴ :ĂŶƵĂƌŝ ϮϬϮϰ͕ ŵĂƐĂ ũĂďĂƚĂŶ <DZ ŵĞŶŐŝŬƵƚŝ ŵĂƐĂ ƚƵŐĂƐ ƉĂĚĂ ũĂďĂƚĂŶͬƉŽƐŝƐŝ LJĂŶŐ
ďĞƌƐĂŶŐŬƵƚĂŶƉĂĚĂƐƚƌƵŬƚƵƌĂůƉĞƌƵƐĂŚĂĂŶ͘<ĞĂŶŐŐŽƚĂĂŶ<DZƚĞƌĚŝƌŝĚĂƌŝŵŝŶŝŵĂůƐĞƉĂƌƵŚĂŶŐŐŽƚĂŝƌĞŬƐŝ͕LJĂŝƚƵ
ŵŝŶŝŵĂůƚĞƌĚŝƌŝĚĂƌŝϱϬй;ůŝŵĂƉƵůƵŚƉĞƌƐĞŶͿ ĚĂƌŝƐĞůƵƌƵŚũƵŵůĂŚĂŶŐŐŽƚĂŝƌĞŬƐŝĚĂŶWĞũĂďĂƚ ŬƐĞŬƵƚŝĨLJĂŶŐ
ƚĞƌŬĂŝƚ͘<ĞĂŶŐŐŽƚĂŶ<DZƚĞƌĚŝƌŝĚĂƌŝĂŶŐŐŽƚĂƚĞƚĂƉĚĂŶƚŝĚĂŬƚĞƚĂƉ͘
dƵŐĂƐ ĚĂŶ ǁĞǁĞŶĂŶŐ <DZ ĂĚĂůĂŚ ŵĞŵďĞƌŝŬĂŶ ƌĞŬŽŵĞŶĚĂƐŝ ŬĞƉĂĚĂ WƌĞƐŝĚĞŶ ŝƌĞŬƚƵƌ ƚĞƌŬĂŝƚ DĂŶĂũĞŵĞŶ
ZŝƐŝŬŽ͕LJĂŶŐƉĂůŝŶŐƐĞĚŝŬŝƚŵĞůŝƉƵƚŝ͗
ϭ͘ DĞŶLJƵƐƵŶŬĞďŝũĂŬĂŶ͕ƐƚƌĂƚĞŐŝ͕ĚĂŶƉĞĚŽŵĂŶƉĞŶĞƌĂƉĂŶDĂŶĂũĞŵĞŶZŝƐŝŬŽ͘
Ϯ͘ DĞůĂŬƵŬĂŶ ƉĞƌďĂŝŬĂŶ ĂƚĂƵ ƉĞŶLJĞƐƵĂŝĂŶ ƉĞůĂŬƐĂŶĂĂŶ DĂŶĂũĞŵĞŶ ZŝƐŝŬŽ ďĞƌĚĂƐĂƌŬĂŶ ŚĂƐŝů ĞǀĂůƵĂƐŝ
ƉĞůĂŬƐĂŶĂĂŶDĂŶĂũĞŵĞŶZŝƐŝŬŽ͘
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ϯ͘ DĞŶĞƚĂƉŬĂŶŚĂůͲŚĂůLJĂŶŐƚĞƌŬĂŝƚĚĞŶŐĂŶŬĞƉƵƚƵƐĂŶďŝƐŶŝƐLJĂŶŐŵĞŶLJŝŵƉĂŶŐĚĂƌŝƉƌŽƐĞĚƵƌŶŽƌŵĂů͘
ϰ͘ LJĂŶŐŵĞŶLJŝŵƉĂŶŐĚĂƌŝƉƌŽƐĞĚƵƌŶŽƌŵĂů͘
ŶŐŐŽƚĂ<ŽŵŝƚĞDĂŶĂũĞŵĞŶZŝƐŝŬŽ
ĚLJ,ĂŶĚŽũŽ^ĂŶƚŽƐŽ ͗<ĞƚƵĂŵĞƌĂŶŐŬĂƉĂŶŐŐŽƚĂƚĞƚĂƉ
WĂƵůƵƐ͘>ĂƌŽƐĂ ͗ŶŐŐŽƚĂƚĞƚĂƉ
^ŝĨƌĂsŝŽŶĂdũĂŚũŽŶŽ ͗ŶŐŐŽƚĂƚĞƚĂƉ
^ĂŶĚŝ^ĂĞďĂƚƵů ͗^ĞŬƌĞƚĂƌŝƐŵĞƌĂŶŐŬĂƉŶŐŐŽƚĂƚĞƚĂƉ
ƵĚLJ ͗ŶŐŐŽƚĂƚĞƚĂƉ
^ĞůƵƌƵŚ<ĞƉĂůĂŝǀŝƐŝΎ ͗ŶŐŐŽƚĂƚŝĚĂŬƚĞƚĂƉ
WĞũĂďĂƚůĂŝŶŶLJĂΎ ͗WĞƐĞƌƚĂ;ƐĞůĂŝŶĂŶŐŐŽƚĂͿ
ΎĂŬĂŶ ŚĂĚŝƌ ĂƉĂďŝůĂ ƚĞƌĚĂƉĂƚ ŬĞƚĞƌŬĂŝƚĂŶ ĚĞŶŐĂŶ ƚŽƉŝŬ LJĂŶŐ ĚŝďĂŚĂƐ ĚĂůĂŵ ƌĂƉĂƚ <ŽŵŝƚĞ DĂŶĂũĞŵĞŶ ZŝƐŝŬŽ ĚĂŶ
ŵĞŶĚĂƉĂƚŬĂŶƵŶĚĂŶŐĂŶĚĂƌŝ^ĞŬƌĞƚĂƌŝƐ<ŽŵŝƚĞDĂŶĂũĞŵĞŶZŝƐŝŬŽ
^ĞƐƵĂŝWŝĂŐĂŵ<ŽŵŝƚĞDĂŶĂũĞŵĞŶZŝƐŝŬŽ͕ƐĞďĂŐĂŝďĂŐŝĂŶĚĂƌŝƉĞůĂŬƐĂŶĂĂŶƚƵŐĂƐŶLJĂ͕<ŽŵŝƚĞDĂŶĂũĞŵĞŶZŝƐŝŬŽ
ǁĂũŝď ŵĞŶŐĂĚĂŬĂŶ ƌĂƉĂƚ ƐĞĐĂƌĂ ďĞƌŬĂůĂ ƉĂůŝŶŐ ŬƵƌĂŶŐ ϭ ;ƐĂƚƵͿ ŬĂůŝ ĚĂůĂŵ ϯ ;ƚŝŐĂͿ ďƵůĂŶ ĚĂŶ ĚŝŚĂĚŝƌŝ ŽůĞŚ
ŵĂLJŽƌŝƚĂƐĚĂƌŝũƵŵůĂŚĂŶŐŐŽƚĂ<ŽŵŝƚĞDĂŶĂũĞŵĞŶZŝƐŝŬŽ͕LJĂŶŐŵĂŶĂƐĂůĂŚƐĂƚƵĚĂƌŝŵĂLJŽƌŝƚĂƐũƵŵůĂŚĂŶŐŐŽƚĂ
<ŽŵŝƚĞDĂŶĂũĞŵĞŶZŝƐŝŬŽŵĞƌƵƉĂŬĂŶ<ĞƚƵĂ<ŽŵŝƚĞDĂŶĂũĞŵĞŶZŝƐŝŬŽ͘
&ƌĞŬƵĞŶƐŝZĂƉĂƚĚĂŶdŝŶŐŬĂƚ<ĞŚĂĚŝƌĂŶ
^ĂŵƉĂŝĚĞŶŐĂŶƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƐĂŵƉĂŝŬĂŶ͕ďĞƌŝŬƵƚĂĚĂůĂŚĨƌĞŬƵĞŶƐŝƌĂƉĂƚĚĂŶƚŝŶŐŬĂƚŬĞŚĂĚŝƌĂŶŵĂƐŝŶŐ
ĂŶŐŐŽƚĂŬŽŵŝƚĞ͗
EĂŵĂ :ƵŵůĂŚZĂƉĂƚ WĞƌƐĞŶƚĂƐĞ<ĞŚĂĚŝƌĂŶ;йͿ
ĚLJ,ĂŶĚŽũŽ^ĂŶƚŽƐŽ ϭϱ ϭϬϬй
WĂƵůƵƐ͘>ĂƌŽƐĂ ϭϱ ϭϬϬй
^ŝĨƌĂsŝŽŶĂdũĂŚũŽŶŽ ϭϱ ϭϬϬй
^ĂŶĚŝ^ĂĞďĂƚƵů ϭϱ ϭϬϬй
Tata Kelola Perusahaan yang Baik (Good Corporate Governance)
WĞƌƐĞƌŽĂŶ ďĞƌƚĞŬĂĚ ƵŶƚƵŬ ŵĞŶĚĂƉĂƚŬĂŶ ĚĂŶ ŵĞŵĞůŝŚĂƌĂ ŬĞƉĞƌĐĂLJĂĂŶ ĚĂƌŝ ƉĂƌĂ ƉĞŵĞŐĂŶŐ ƐĂŚĂŵ ŵĞůĂůƵŝ
ŬŽŵŝƚŵĞŶƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶƉƌŝŶƐŝƉͲƉƌŝŶƐŝƉƚĂƚĂŬĞůŽůĂƉĞƌƵƐĂŚĂĂŶLJĂŶŐďĂŝŬ͘dƵũƵĂŶWĞƌƐĞƌŽĂŶĂĚĂůĂŚƵŶƚƵŬ
ŵĞŶĐŝƉƚĂŬĂŶŶŝůĂŝũĂŶŐŬĂƉĂŶũĂŶŐĚĂŶŵĞŵĂŬƐŝŵĂůŬĂŶƚŝŶŐŬĂƚƉĞŶŐĞŵďĂůŝĂŶŵŽĚĂůďĂŐŝƉĂƌĂƉĞŵĞŐĂŶŐƐĂŚĂŵ
ŵĞůĂůƵŝƉĞŶLJĞĚŝĂĂŶďĞƌďĂŐĂŝƉƌŽĚƵŬũĂƐĂƉĞŵďŝĂLJĂĂŶŬĞƉĂĚĂƉĂƌĂƉĞůĂŶŐŐĂŶ͘hŶƚƵŬŵĞŶĐĂƉĂŝƚƵũƵĂŶͲƚƵũƵĂŶ
WĞƌƐĞƌŽĂŶŝŶŝ͕WĞƌƐĞƌŽĂŶƚĞůĂŚďĞƌŬŽŵŝƚŵĞŶƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶƐĞĐĂƌĂŽƉƚŝŵĂůƐƚĂŶĚĂƌƚĂƚĂŬĞůŽůĂƉĞƌƵƐĂŚĂĂŶ
ĚĂŶŵĞŵďĂŶŐƵŶďƵĚĂLJĂƵŶƚƵŬŵĞŶŐŚĂƌŐĂƐƵĂƚƵŬĞďĞƌŚĂƐŝůĂŶ͕ŝŶƚĞŐƌŝƚĂƐƉƌŝďĂĚŝ͕ŬĞƉĞƌĐĂLJĂĂŶĚĂŶƐŝŬĂƉƐĂůŝŶŐ
ŵĞŶŐŚŽƌŵĂƚŝ ƐĂƚƵ ƐĂŵĂ ůĂŝŶ͘ ,ĂƌĂƉĂŶͲŚĂƌĂƉĂŶ ĚĂƌŝ ŬĂƌLJĂǁĂŶ ĚĂŶ ƉŝŚĂŬͲƉŝŚĂŬ ĚŝŵĂŶĂ WĞƌƐĞƌŽĂŶ ŵĞŐŝŬĂƚ
ŚƵďƵŶŐĂŶďŝƐŶŝƐƚĞƌĐĂŶƚƵŵĚĂůĂŵWĞĚŽŵĂŶWƌŝŶƐŝƉͲWƌŝŶƐŝƉĞƌƵƐĂŚĂ͘
<ĞƉĞŵŝŵƉŝŶĂŶ ĚĂůĂŵ ƉĞůĂŬƐĂŶĂĂŶ ƚĂƚĂ ŬĞůŽůĂ ƉĞƌƵƐĂŚĂĂŶ ĚŝŵƵůĂŝ ĚĂƌŝ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ ĚĂŶ ŝƌĞŬƐŝ͘
DĞƌƵƉĂŬĂŶƚĂŶŐŐƵŶŐũĂǁĂďĚĂƌŝĞǁĂŶ<ŽŵŝƐĂƌŝƐĚĂŶŝƌĞŬƐŝƵŶƚƵŬŵĞŵĂƐƚŝŬĂŶďĂŚǁĂƐĞƚŝĂƉŵĂŶĂũĞƌƐĞŶŝŽƌ
WĞƌƐĞƌŽĂŶŵĞŵĞŐĂŶŐƚĞŐƵŚƚĂŶŐŐƵŶŐũĂǁĂďĂƚĂƐĂƉĂLJĂŶŐƚĞůĂŚŵĞƌĞŬĂůĂŬƵŬĂŶŬĞƉĂĚĂƉĂƌĂƉĞŵĞŐĂŶŐƐĂŚĂŵ͕
ƉĞůĂŶŐŐĂŶ͕ŬĂƌLJĂǁĂŶ͕ĚĂŶƐĞŵƵĂƉŝŚĂŬLJĂŶŐŵĞŵŝůŝŬŝŚƵďƵŶŐĂŶďŝƐŶŝƐĚĞŶŐĂŶWĞƌƐĞƌŽĂŶ͘
ĂůĂŵ ƉƌŽƐĞƐĨŽƌŵƵůĂƐŝ ŬĞƌĂŶŐŬĂ ŬĞƌũĂ ƚĂƚĂ ŬĞůŽůĂ ƉĞƌƵƐĂŚĂĂŶ͕ WĞƌƐĞƌŽĂŶ ŵĞŶŐŐƵŶĂŬĂŶ ƉƌŝŶƐŝƉͲƉƌŝŶƐŝƉ ƚĂƚĂ
ŬĞůŽůĂ ƉĞƌƵƐĂŚĂĂŶ ƐĞďĂŐĂŝŵĂŶĂ LJĂŶŐ ĚŝŵĂŬƐƵĚ ĚĂůĂŵ ƉĞƌĂƚƵƌĂŶ ƉĞŵĞƌŝŶƚĂŚ LJĂŝƚƵ K:< ĚĂŶ /͘ WĞƌƐĞƌŽĂŶ
ďĞƌŬŽŵŝƚŵĞŶƵŶƚƵŬƐĞůĂůƵŵĞůĂŬƵŬĂŶƉĞƌďĂŝŬĂŶƐĞƐƵĂŝƚƵŶƚƵƚĂŶƉƌĂŬƚĞŬͲƉƌĂŬƚĞŬďĞƌƵƐĂŚĂLJĂŶŐůĞďŝŚďĂŝŬ͘
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ϴ͘ ^dZh<dhZKZ'E/^^/
DĞƌƵũƵŬ ƉĂĚĂ WĞƌĂƚƵƌĂŶ K:< ϰϳͬWK:<͘ϬϱͬϮϬϮϬ ƚĞŶƚĂŶŐ WĞƌŝnjŝŶĂŶ hƐĂŚĂ ĚĂŶ <ĞůĞŵďĂŐĂĂŶ WĞƌƵƐĂŚĂĂŶ
WĞŵďŝĂLJĂĂŶĚĂŶWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ^LJĂƌŝĂŚWĂƐĂůϭϭ͕ďĞƌŝŬƵƚĂĚĂůĂŚƐƚƌƵŬƚƵƌŽƌŐĂŶŝƐĂƐŝWĞƌƐĞƌŽĂŶ͗
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ϵ͘ ^hD ZzDEh^/
<ŽŵƉŽƐŝƐŝ<ĂƌLJĂǁĂŶWĞƌƐĞƌŽĂŶ
WĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰ͕WĞƌƐĞƌŽĂŶŵĞŵƉĞŬĞƌũĂŬĂŶϰ͘ϬϯϱŽƌĂŶŐŬĂƌLJĂǁĂŶ͕LJĂŶŐƚĞƌĚŝƌŝĚĂƌŝϮ͘ϬϭϱŽƌĂŶŐ
ŬĂƌLJĂǁĂŶƚĞƚĂƉĚĂŶϮ͘ϬϮϬŬĂƌLJĂǁĂŶŬŽŶƚƌĂŬ͕ĚĞŶŐĂŶƌŝŶĐŝĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Komposisi karyawan berdasarkan status kepegawaian
31 Desember
Klasifikasi
2024 2023
Tetap 2.015 1.831
Kontrak 2.020 2.005
Total 4.035 3.836
Komposisi karyawan berdasarkan jenjang pendidikan
31 Desember
Klasifikasi
2024 2023
Akademi dan Universitas (S1, S2 & 2.740 2.609
S3)
Diploma 409 425
SMA Kebawah 886 802
Total 4.035 3.836
Komposisi karyawan berdasarkan jenjang jabatan
31 Desember
Klasifikasi
2024 2023
Direktur 5 5
Manajer Senior & Manajer 62 55
Supervisor & Coordinator 794 684
Staf 3.174 3.092
Total 4.035 3.836
Komposisi karyawan berdasarkan jenjang usia
31 Desember
Klasifikasi
2024 2023
<21 34 32
21 - 30 Tahun 2.006 1.676
31 - 40 Tahun 1.416 1.490
41 - 50 Tahun 527 577
>50 Tahun 52 61
Total 4.035 3.836
Masuknya Direktur kedalam perhitungan karyawan yang diungkapkan pada Prospektus merupakan bentuk
penyeragaman pengungkapan dengan pengisian laporan ESG PT Bursa Efek Indonesia (BEI) melalui form E020
pada sistem Sarana Keterbukaan Informasi Bagi Perusahaan Tercatat (SPE-IDXnet) terkait Laporan Tahunan dan
Laporan Keberlanjutan Perseroan, dimana form E020 tersebut juga telah diselaraskan dengan Peraturan OJK
Nomor 51/POJK.03/2017 tentang Penerapan Keuangan Berkelanjutan bagi Lembaga Jasa Keuangan, Emiten, dan
Perusahaan Publik, serta Surat Edaran OJK Nomor 16/SEOJK.04/2021 tentang Bentuk dan Isi Laporan Tahunan
Emiten atau Perusahaan Publik. Perseroan mengklasifikasikan Direktur sebagai karyawan Executive Level.
WĂĚĂ ƚĂŶŐŐĂů ĚŝƚĞƌďŝƚŬĂŶŶLJĂ WƌŽƐƉĞŬƚƵƐ ŝŶŝ͕ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ŵĞŵŝůŝŬŝ ƉĞŐĂǁĂŝ LJĂŶŐ ŵĞŵŝůŝŬŝ ŬĞĂŚůŝĂŶ ŬŚƵƐƵƐ
ĚŝďŝĚĂŶŐŶLJĂĚĂŶƚĞŶĂŐĂŬĞƌũĂĂƐŝŶŐLJĂŶŐĚŝƉĞƌŬĞƌũĂŬĂŶ͘
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WƌŽŐƌĂŵWĞŶĚŝĚŝŬĂŶĚĂŶWĞůĂƚŝŚĂŶ
ĂůĂŵƌĂŶŐŬĂŵĞŶŐŚĂƐŝůŬĂŶ^DLJĂŶŐŵĞŵŝůŝŬŝŬŽŵƉĞƚĞŶƐŝLJĂŶŐďĂŝŬĚĂŶďĞƌĚĂLJĂƐĂŝŶŐƚŝŶŐŐŝ͕ƐĞĐĂƌĂďĞƌŬĂůĂ
WĞƌƐĞƌŽĂŶ ŵĞŶĚŽƌŽŶŐ ƐĞůƵƌƵŚ ŬĂƌLJĂǁĂŶ ĚĂƌŝ ďĞƌďĂŐĂŝ ůĞǀĞů ũĂďĂƚĂŶ ĚĂŶ ĨƵŶŐƐŝ ƵŶƚƵŬ ŵĞŶŐŝŬƵƚŝ ƉĞůĂƚŝŚĂŶ
ƐĞƐƵĂŝĚĞŶŐĂŶŬĞďƵƚƵŚĂŶŶLJĂŵĂƐŝŶŐͲŵĂƐŝŶŐLJĂŶŐŵĞůŝƉƵƚŝ͗
ϭ͘ WĞůĂƚŝŚĂŶ/ŶƚĞƌŶĂů
WĞůĂƚŝŚĂŶLJĂŶŐĚŝĨĂƐŝůŝƚĂƐŝŽůĞŚWĞƌƐĞƌŽĂŶĚĞŶŐĂŶŵĞŶƵŐĂƐŬĂŶŝŶƐƚƌƵŬƚƵƌĚĂƌŝŬĂůĂŶŐĂŶŝŶƚĞƌŶĂůƵŶƚƵŬ
ŵĞŵďĞƌŝŬĂŶ ďŝŵďŝŶŐĂŶ ŬĞƉĂĚĂ ƉĂƌĂ ƉĞƐĞƌƚĂ ĚĂŶ ďŝĂƐĂŶLJĂ ŬĞŐŝĂƚĂŶ ĚŝŐĞůĂƌ Ěŝ ŬĂŶƚŽƌ ƉƵƐĂƚ ĂƚĂƵƉƵŶ
ĚŝŬĂŶƚŽƌĐĂďĂŶŐWĞƌƐĞƌŽĂŶ͘
Ϯ͘ WĞůĂƚŝŚĂŶ ŬƐƚĞƌŶĂů
WĞůĂƚŝŚĂŶLJĂŶŐĚŝĨĂƐŝůŝƚĂƐŝŽůĞŚƉŝŚĂŬĞŬƐƚĞƌŶĂůLJĂŶŐƐƵĚĂŚďĞƌƉĞŶŐĂůĂŵĂŶĚŝďŝĚĂŶŐŶLJĂ͘
^ĞďĂŐĂŝďĞŶƚƵŬƉĞŶŐĞŵďĂŶŐĂŶƉƌŽĚƵŬƚŝǀŝƚĂƐŬĞƌũĂ͕WĞƌƐĞƌŽĂŶũƵŐĂŵĞŵŝůŝŬŝƉƌŽŐƌĂŵ ŝŶĚƵĐƚŝŽŶ͕ƚƌĂŝŶŝŶŐĂŶĚ
ĚĞǀĞůŽƉŵĞŶƚ LJĂŶŐ ďĞƌƚƵũƵĂŶ ƵŶƚƵŬ ŵĞŵďĞƌŝŬĂŶ ƉĞŵĂŚĂŵĂŶ ůĞďŝŚ ŵĞŶĚĂůĂŵ ŵĞŶŐĞŶĂŝ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ
WĞƌƐĞƌŽĂŶ͕ ŶŝůĂŝͲŶŝůĂŝ WĞƌƐĞƌŽĂŶ ƐĞƌƚĂ <ŽĚĞ ƚŝŬ WĞƌƐĞƌŽĂŶ͘ WƌŽŐƌĂŵ ŽƌŝĞŶƚĂƐŝ ƚĞƌƐĞďƵƚ ĚŝůĂŬƐĂŶĂŬĂŶ ďĂŐŝ
ŬĂƌLJĂǁĂŶďĂƌƵĚĂŶĚŝǁĂũŝďŬĂŶƵŶƚƵŬĚĂƉĂƚĚŝŝŬƵƚŝƐĞƌƚĂůƵůƵƐƉĂĚĂƚĂŚĂƉƉĞŶŐĞŶĂůĂŶWĞƌƵƐĂŚĂĂŶƚĞƌƐĞďƵƚ͘
WĞƌƐĞƌŽĂŶ ũƵŐĂ ŵĞŶŐŝŬƵƚƐĞƌƚĂŬĂŶ ŬĂƌLJĂǁĂŶ ĚĂůĂŵ ƐĞƌƚŝĨŝŬĂƐŝ ĚĂƐĂƌ ƉĞŵďŝĂLJĂĂŶ ĚĂŶ ƐĞƌƚŝĨŝŬĂƐŝ ƉƌŽĨĞƐŝ
ƉĞŶĂŐŝŚĂŶLJĂŶŐĚŝƐĞůĞŶŐŐĂƌĂŬĂŶƐĞĐĂƌĂďĞƌŬĂůĂƐĞƚŝĂƉƚĂŚƵŶŶLJĂŽůĞŚůĞŵďĂŐĂ^WW/͘^ĞƌƚŝĨŝŬĂƐŝŝŶŝĚŝŬƵƚŝŽůĞŚ
ŬĂƌLJĂǁĂŶĚĂƌŝũĞŶũĂŶŐƐƚĂĨŚŝŶŐŐĂŵĂŶĂũĞƌ͘
^ĞƉĂŶũĂŶŐƚĂŚƵŶϮϬϮϰ͕WĞƌƐĞƌŽĂŶƚĞůĂŚ ŵĞŵĨĂƐŝůŝƚĂƐŝŬĂƌLJĂǁĂŶWĞƌƐĞƌŽĂŶƵŶƚƵŬŵĞŶŐŝŬƵƚŝďĞƌďĂŐĂŝƉƌŽŐƌĂŵ
ƉĞůĂƚŝŚĂŶĚĂŶƉĞŶŐĞŵďĂŶŐĂŶŬŽŵƉĞƚĞŶƐŝďĂŝŬƚĂƚĂƉŵƵŬĂŵĂƵƉƵŶƐĞĐĂƌĂŽŶůŝŶĞ͘
^ĂƌĂŶĂ<ĞƐĞũĂŚƚĞƌĂĂŶ
^ĂůĂŚƐĂƚƵďĞŶƚƵŬƉĞƌŚĂƚŝĂŶWĞƌƐĞƌŽĂŶƚĞƌŚĂĚĂƉŬĞƐĞũĂŚƚĞƌĂĂŶŬĂƌLJĂǁĂŶĂĚĂůĂŚƉĞŵďĞƌŝĂŶƉĂŬĞƚƌĞŵƵŶĞƌĂƐŝ
LJĂŶŐŬŽŵƉĞƚŝƚŝĨĚĂŶƐĞƐƵĂŝƉĞƌĂƚƵƌĂŶLJĂŶŐďĞƌůĂŬƵ͘WĞƌƐĞƌŽĂŶƐĞĐĂƌĂ ďĞƌŬĂůĂŵĞůĂŬƵŬĂŶƉĞŶLJĞƐƵĂŝĂŶƵƉĂŚ
ŬĂƌLJĂǁĂŶĚŝŵĂŶĂƵƉĂŚĚŝďĞƌŝŬĂŶĚĂůĂŵũƵŵůĂŚƐĞƌĞŶĚĂŚͲƌĞŶĚĂŚŶLJĂƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶƵƉĂŚŵŝŶŝŵƵŵ
LJĂŶŐĚŝƚĞƚĂƉŬĂŶWĞŵĞƌŝŶƚĂŚ͘WĞƌƐĞƌŽĂŶũƵŐĂŵĞŶLJĞĚŝĂŬĂŶďĞƌďĂŐĂŝƚƵŶũĂŶŐĂŶĚĂŶĨĂƐŝůŝƚĂƐƵŶƚƵŬŵĞŶƵŶũĂŶŐ
ŬĞƐĞũĂŚƚĞƌĂĂŶŬĂƌLJĂǁĂŶ͕ĂŶƚĂƌĂůĂŝŶ͗
Ͳ WĞƌƐĞƌŽĂŶŵĞŵďĞƌŝŬĂŶdƵŶũĂŶŐĂŶ,ĂƌŝZĂLJĂŬĞĂŐĂŵĂĂŶŬĞƉĂĚĂŬĂƌLJĂǁĂŶƐĞƐƵĂŝƉĞƌĂƚƵƌĂŶLJĂŶŐďĞƌůĂŬƵ͘
Ͳ WĞƌƐĞƌŽĂŶ ĚĂƉĂƚ ŵĞŵďĞƌŝŬĂŶ WĞŶŐŚĂƌŐĂĂŶ ŬŚŝƌ dĂŚƵŶ LJĂŶŐ ŬĞƚĞŶƚƵĂŶ ĚĂŶ ďĞƐĂƌŶLJĂ ĚŝƚĞƚĂƉŬĂŶ
ƚĞƌƐĞŶĚŝƌŝ͕ďĞƌĚĂƐĂƌŬĂŶŬĞŵĂŵƉƵĂŶWĞƌƐĞƌŽĂŶ͘
Ͳ WĞƌƐĞƌŽĂŶŵĞŵƉĞƌƚĂŶŐŐƵŶŐŬĂŶŬĂƌLJĂǁĂŶĚĂůĂŵƉƌŽŐƌĂŵĂĚĂŶWĞŶLJĞůĞŶŐŐĂƌĂ:ĂŵŝŶĂŶ^ŽƐŝĂů<ĞƐĞŚĂƚĂŶ
ĚĂŶĂĚĂŶWĞŶLJĞůĞŶŐŐĂƌĂ:ĂŵŝŶĂŶ^ŽƐŝĂů<ĞƚĞŶĂŐĂŬĞƌũĂĂŶ͘
Ͳ hŶƚƵŬ ŵĞŶũĂŐĂ ŬĞƐŝŶĂŵďƵŶŐĂŶ ƉĞŶŐŚĂƐŝůĂŶ ŬĂƌLJĂǁĂŶ ĚĂŶ ŬĞůƵĂƌŐĂŶLJĂ͕ ŬĂƌLJĂǁĂŶ LJĂŶŐ ŵĞŵĞŶƵŚŝ
ŬĞƚĞŶƚƵĂŶĂŬĂŶĚŝŝŬƵƚƐĞƌƚĂŬĂŶĚĂůĂŵWƌŽŐƌĂŵĂŶĂWĞŶƐŝƵŶ͘/ƵƌĂŶĂŶĂWĞŶƐŝƵŶŵĂƐŝŶŐͲŵĂƐŝŶŐŬĂƌLJĂǁĂŶ
ĂŬĂŶĚŝƚĂŶŐŐƵŶŐƐĞƉĞŶƵŚŶLJĂŽůĞŚWĞƌƐĞƌŽĂŶ͘
Ͳ WĞƌƐĞƌŽĂŶŵĞŵďĞƌŝŬĂŶ ďĂŶƚƵĂŶũĂŵŝŶĂŶƉĞŵĞůŝŚĂƌĂĂŶŬĞƐĞŚĂƚĂŶƵŶƚƵŬŬĂƌLJĂǁĂŶďĞƐĞƌƚĂŬĞůƵĂƌŐĂŶLJĂ
ďĞƌƵƉĂƉĞŶŐŐĂŶƚŝĂŶďŝĂLJĂƌĂǁĂƚũĂůĂŶ͕ďŝĂLJĂƌĂǁĂƚŝŶĂƉĚŝƌƵŵĂŚƐĂŬŝƚ͕ďŝĂLJĂŵĞůĂŚŝƌŬĂŶ͕ďŝĂLJĂŬĞŐƵŐƵƌĂŶ͕
ďŝĂLJĂĐƵĐŝĚĂƌĂŚ͕ƉĞŵďĞůŝĂŶŬĂĐĂŵĂƚĂ͕ƉƌŽŐƌĂŵŬĞůƵĂƌŐĂďĞƌĞŶĐĂŶĂ͘
Ͳ WĞƌƐĞƌŽĂŶ ŵĞŵďĞƌŝŬĂŶ ďĂŶƚƵĂŶ ďŝĂLJĂ ŬĞŵĂƚŝĂŶ ďĂŐŝ ŬĞůƵĂƌŐĂ ŬĂƌLJĂǁĂŶ͕ ďĂŶƚƵĂŶ ƉĞƌŶŝŬĂŚĂŶ ďĂŐŝ
ŬĂƌLJĂǁĂŶLJĂŶŐŵĞůĂŶŐƐƵŶŐŬĂŶƉĞƌŶŝŬĂŚĂŶƐĞĐĂƌĂƐĂŚ͘
Ͳ WĞƌƐĞƌŽĂŶ ŵĞŵďĞƌŝ ŬĞƐĞŵƉĂƚĂŶ ŬĞƉĂĚĂ ŬĂƌLJĂǁĂŶ ƵŶƚƵŬ ŵĞŶũĂůĂŶŬĂŶ ŬĞǁĂũŝďĂŶ ŵĞŶƵƌƵƚ ĂŐĂŵĂŶLJĂ
ŵĂƐŝŶŐͲŵĂƐŝŶŐ ƚĂŶƉĂ ŵĞŶŐŐĂŶŐŐƵ ŬĞůĂŶĐĂƌĂŶ ƉĞŬĞƌũĂĂŶ͕ ĚĂŶ ŵĞŶLJĞĚŝĂŬĂŶ ƌƵĂŶŐĂŶͬƚĞŵƉĂƚ ƵŶƚƵŬ
ŬĂƌLJĂǁĂŶďĞƌŝďĂĚĂŚ͘
Ͳ WĞƌƐĞƌŽĂŶŵĞŶLJĞĚŝĂŬĂŶĨĂƐŝůŝƚĂƐŽůĂŚƌĂŐĂďĂŐŝŬĂƌLJĂǁĂŶ͘
Ͳ WĞƌƐĞƌŽĂŶŵĞŵďĞƌŝŬĂŶĨĂƐŝůŝƚĂƐŬĞŶĚĂƌĂĂŶŽƉĞƌĂƐŝŽŶĂůďĂŐŝŬĂƌLJĂǁĂŶĚĞŶŐĂŶƌĂŶŬĂƚĂƵũĂďĂƚĂŶƚĞƌƚĞŶƚƵ͘
Pada tanggal diterbitkannya Prospektus ini, tidak ada perjanjian untuk melibatkan karyawan dan manajemen
dalam kepemilikan saham Perseroan termasuk perjanjian yang berkaitan dengan program kepemilikan saham
Perseroan oleh karyawan atau anggota Direksi dan anggota Dewan Komisaris
105
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PT INDOMOBIL FINANCE INDONESIA
ϭϬ͘ ,hhE'EW E'hZh^EEW E't^E>DW Z^ ZKEEW D 'E'^,DhdD
EĂŵĂ WĞƌƐĞƌŽĂŶ /D:
:ƵƐĂŬ<ĞƌƚŽǁŝĚũŽũŽ WƌĞƐŝĚĞŶ<ŽŵŝƐĂƌŝƐ ŝƌĞŬƚƵƌhƚĂŵĂ
'ƵŶĂǁĂŶ;'ƵŶĂǁĂŶ ĨĨĞŶĚŝͿ <ŽŵŝƐĂƌŝƐ tĂŬŝůŝƌĞŬƚƵƌhƚĂŵĂ
dƌŝLJĂŶĂ/ƐŬĂŶĚĂƌƐũĂŚ <ŽŵŝƐĂƌŝƐ/ŶĚĞƉĞŶĚĞŶ Ͳ
ĚLJ,ĂŶĚŽũŽ^ĂŶƚŽƐŽ WƌĞƐŝĚĞŶŝƌĞŬƚƵƌ Ͳ
WĂƵůƵƐ͘>ĂƌŽƐĂ ŝƌĞŬƚƵƌ Ͳ
^ŝĨƌĂsŝŽŶĂdũĂŚũŽŶŽ ŝƌĞŬƚƵƌ Ͳ
ϭϭ͘ /'ZD,hhE'E< W D/>/<EW Z^ ZKE E'EW D 'E'^,DW Z^ ZKE
ĞƌŝŬƵƚĂĚĂůĂŚĚŝĂŐƌĂŵŚƵďƵŶŐĂŶŬĞƉĞŵŝŬĂŶWĞƌƐĞƌŽĂŶĚĞŶŐĂŶƉĞŵĞŐĂŶŐƐĂŚĂŵƐĞƌƚĂƉŽƐŝƐŝWĞƌƐĞƌŽĂŶƐĞĐĂƌĂ
ŚŽƌŝnjŽŶƚĂůĚĞŶŐĂŶĂŶĂŬƵƐĂŚĂůĂŝŶŶLJĂĚĂƌŝƉĞŵĞŐĂŶŐƐĂŚĂŵƉĞŶŐĞŶĚĂůŝLJĂŶŐŬĞƉĞŵŝůŝŬĂŶŶLJĂĚŝĂƚĂƐϱϬйƉĂĚĂ
ƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶ͘
ĂƚĂƚĂŶ͗
ΎͿĂƉĂŬŶƚŚŽŶŝ^ĂůŝŵŵĞŵŝůŝŬŝƐĂŚĂŵƐĞĐĂƌĂƚŝĚĂŬůĂŶŐƐƵŶŐĚŝ'ĂůůĂŶƚsĞŶƚƵƌĞ>ƚĚ͘
ΎΎͿ<ĞƉĞŵŝůŝŬĂŶWddƌŝŵĞŐĂŚ^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂdďŬĂƚĂƐƐĂŚĂŵWd/ŶĚŽŵŽďŝů^ƵŬƐĞƐ/ŶƚĞƌŶĂƐŝŽŶĂůdďŬŵĞƌƵƉĂŬĂŶŚĂƐŝůĚĂƌŝƚƌĂŶƐĂŬƐŝZ WK͘<ĞƉĞŵŝůŝŬĂŶ
ƐĂŚĂŵŽůĞŚWdhŶŝŽŶ^ĂŵƉŽĞƌŶĂĚŝĚĂůĂŵWddƌŝŵĞŐĂŚ^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂdďŬďĞƌĂƐĂůĚĂƌŝƉĞƌĚĂŐĂŶŐĂŶƐĂŚĂŵĚŝWdƵƌƐĂ ĨĞŬ/ŶĚŽŶĞƐŝĂ͘>ĞďŝŚůĂŶũƵƚ͕ďĂŝŬ
WĞƌƐĞƌŽĂŶŵĂƵƉƵŶWddƌŝŵĞŐĂŚ^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂdďŬƚŝĚĂŬŵĞŵŝůŝŬŝŝŶĨŽƌŵĂƐŝŵĞŶŐĞŶĂŝƉĞŵĞŐĂŶŐƐĂŚĂŵŚŝŶŐŐĂƚŝŶŐŬĂƚŬĞƉĞŵŝůŝŬĂŶŝŶĚŝǀŝĚƵĚĂƌŝWdhŶŝŽŶ
^ĂŵƉŽĞƌŶĂ ŬĂƌĞŶĂ WĞƌƐĞƌŽĂŶ ĚĂŶ Wd dƌŝŵĞŐĂŚ ^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂ dďŬ ƚŝĚĂŬ ŵĞŵŝůŝŬŝ ŝŶĨŽƌŵĂƐŝ ĚĂŶͬĂƚĂƵ ĂŬƐĞƐ ĂƚĂƐ ůĂƉŽƌĂŶ ŬĞƵĂŶŐĂŶ͕ ůĂƉŽƌĂŶ ƚĂŚƵŶĂŶ͕
ŵĂƵƉƵŶƐŝƚƵƐƌĞƐŵŝĚĂƌŝƉĞƌƵƐĂŚĂĂŶƚĞƌƐĞďƵƚ͘
ΎΎΎͿWĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝŝŶĨŽƌŵĂƐŝŵĞŶŐĞŶĂŝƉĞŵĞŐĂŶŐƐĂŚĂŵŚŝŶŐŐĂƚŝŶŐŬĂƚŬĞƉĞŵŝůŝŬĂŶŝŶĚŝǀŝĚƵĚĂƌŝWd'ĂƌƵĚĂ^ĞŶƚŽƐĂďĂĚŝĚĂŶWdtĂŚĂŶĂ/Ŷƚŝ
^ĞůĂŬĂƌĞŶĂWĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝŝŶĨŽƌŵĂƐŝĚĂŶͬĂƚĂƵĂŬƐĞƐĂƚĂƐůĂƉŽƌĂŶŬĞƵĂŶŐĂŶ͕ůĂƉŽƌĂŶƚĂŚƵŶĂŶ͕ŵĂƵƉƵŶƐŝƚƵƐƌĞƐŵŝĚĂƌŝŵĂƐŝŶŐͲŵĂƐŝŶŐƉĞƌƵƐĂŚĂĂŶ
ƚĞƌƐĞďƵƚ͘
DĞƌƵũƵŬ ƉĂĚĂ ĚĞĨŝŶŝƐŝ ‘WĞŶŐĞŶĚĂůŝ’ ƐĞďĂŐĂŝŵĂŶĂĚŝŵƵĂƚ ƉĂĚĂ WĞƌĂƚƵƌĂŶ K:< EŽ͘ ϵͬϮϬϭϳ͕ ŵĂŬĂ ‘WĞŶŐĞŶĚĂůŝ’
WĞƌƐĞƌŽĂŶĂĚĂůĂŚWd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬ;“/D:”Ϳ͕ƐĞďĂŐĂŝƉŝŚĂŬLJĂŶŐŵĞŵŝůŝŬŝƐĂŚĂŵůĞďŝŚĚĂƌŝϱϬй;ůŝŵĂ
ƉƵůƵŚƉĞƌƐĞŶͿĚĂƌŝƐĞůƵƌƵŚƐĂŚĂŵLJĂŶŐƚĞůĂŚĚŝƐĞƚŽƌƉĞŶƵŚĚĂůĂŵWĞƌƐĞƌŽĂŶ͘ĞƌĚĂƐĂƌŬĂŶŬĞƉĞŵŝůŝŬĂŶƐĂŚĂŵ
WĞƌƐĞƌŽĂŶƚĞƌƐĞďƵƚ͕/D:ŵĞŵƉƵŶLJĂŝŬĞŵĂŵƉƵĂŶƵŶƚƵŬŵĞŶĞŶƚƵŬĂŶĚĞŶŐĂŶĐĂƌĂĂƉĂƉƵŶƉĞŶŐĞůŽůĂĂŶĚĂŶͬĂƚĂƵ
ŬĞďŝũĂŬƐĂŶĂĂŶWĞƌƐĞƌŽĂŶ͘
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^ĞůĂŶũƵƚŶLJĂ͕WĞƌƐĞƌŽĂŶƚĞůĂŚŵĞůĂŬƵŬĂŶƉĞŵĞŶƵŚĂŶƚĞƌŚĂĚĂƉWĞƌĂƚƵƌĂŶWƌĞƐŝĚĞŶZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂEŽŵŽƌ
ϭϯƚĂŚƵŶϮϬϭϴƚĞŶƚĂŶŐWĞŶĞƌĂƉĂŶWƌŝŶƐŝƉDĞŶŐĞŶĂŝWĞŵŝůŝŬDĂŶĨĂĂƚĂƌŝ<ŽƌƉŽƌĂƐŝĂůĂŵZĂŶŐŬĂWĞŶĐĞŐĂŚĂŶ
ĚĂŶ WĞŵďĞƌĂŶƚĂƐĂŶ dŝŶĚĂŬ WŝĚĂŶĂ WĞŶĐƵĐŝĂŶ hĂŶŐ ĚĂŶ dŝŶĚĂŬ WŝĚĂŶĂ dĞƌŽƌŝƐŵĞ ;“Perpres No. 13/2018”Ϳ
ĚĞŶŐĂŶƚĞůĂŚĚŝƐĂŵƉĂŝŬĂŶŶLJĂŝŶĨŽƌŵĂƐŝŵĞŶŐĞŶĂŝƉĞŵŝůŝŬŵĂŶĨĂĂƚWĞƌƐĞƌŽĂŶƉĂĚĂƚĂŶŐŐĂůϭϵ:ƵŶŝϮϬϮϬŬĞƉĂĚĂ
<ĞŵĞŶƚĞƌŝĂŶ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ͕ ŝƌĞŬƚŽƌĂƚ :ĞŶĚĞƌĂů ĚŵŝŶŝƐƚƌĂƐŝ ,ƵŬƵŵ
hŵƵŵ͕ LJĂŶŐ ĚŝůĂŬƵŬĂŶ ŵĞůĂůƵŝ DƵŚĂŵŵĂĚ <ŚŽůŝĚ ƌƚŚĂ͕ ^͘,͕͘ EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ ;“Laporan Notaris”Ϳ͘ WĂĚĂ
ƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶ͕ƉĞŵŝůŝŬŵĂŶĨĂĂƚWĞƌƐĞƌŽĂŶ͕ƐĞďĂŐĂŝŵĂŶĂĚŝƐĞďƵƚŬĂŶĚĂůĂŵ>ĂƉŽƌĂŶEŽƚĂƌŝƐ͕
ĂĚĂůĂŚĂƉĂŬ:ƵƐĂŬ<ĞƌƚŽǁŝĚũŽũŽ͘
ŶŐŐŽƚĂ ŝƌĞŬƐŝ ĚĂŶ <ŽŵŝƐĂƌŝƐ͕ WĞŶŐĞŶĚĂůŝ ĂƚĂƵ WĞŵĞŐĂŶŐ ^ĂŚĂŵ hƚĂŵĂ ŵŝƚĞŶ ĂƚĂƵ ĂĨŝůŝĂƐŝ ĚĂƌŝ ĂŶŐŐŽƚĂ
ŝƌĞŬƐŝ ŶŐŐŽƚĂ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ͕ WĞŶŐĞŶĚĂůŝ ĂƚĂƵ WĞŵĞŐĂŶŐ ^ĂŚĂŵ hƚĂŵĂ ŵĞŵŝůŝŬŝ ŬĞƉĞŶƚŝŶŐĂŶ ĚĂůĂŵ
ƉĞƌƵƐĂŚĂĂŶůĂŝŶLJĂŶŐŵĞŶũĂůĂŶŬĂŶďŝƐŶŝƐLJĂŶŐƐĂŵĂĂƚĂƵŵĞŶŐŚĂƐŝůŬĂŶƉƌŽĚƵŬLJĂŶŐƐĂŵĂĚĞŶŐĂŶ ŵŝƚĞŶĂƚĂƵ
<ĞůŽŵƉŽŬhƐĂŚĂ ŵŝƚĞŶLJĂŝƚƵƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
<ĞƉĞŶƚŝŶŐĂŶ ĚĂůĂŵ WĞƌƵƐĂŚĂĂŶ
EĂŵĂ :ĂďĂƚĂŶƉĂĚĂWĞƌƐĞƌŽĂŶ ůĂŝŶLJĂŶŐŵĞŶũĂůĂŶŬĂŶďŝƐŶŝƐLJĂŶŐ
ƐĂŵĂ
ĂƉĂŬ:ƵƐĂŬ<ĞƌƚŽǁŝĚũŽũŽ WƌĞƐŝĚĞŶ <ŽŵŝƐĂƌŝƐ Wd /ŶĚŽŵŽďŝů WƌĞƐŝĚĞŶ <ŽŵŝƐĂƌŝƐ Wd ,ŝŶŽ
&ŝŶĂŶĐĞ &ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ
ĂƉĂŬ'ƵŶĂǁĂŶ <ŽŵŝƐĂƌŝƐ Wd /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ Wd^ŚŝŶŚĂŶ/ŶĚŽ&ŝŶĂŶĐĞ
/ŶĚŽŶĞƐŝĂ
ĚĂƉƵŶ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞŵŝůŝŬŝ <ĞďŝũĂŬĂŶ LJĂŶŐ ŵĞŶŐĂƚƵƌ ŵĞŶŐĞŶĂŝ ƉĞŶĂŶŐĂŶĂŶ ďĞŶƚƵƌĂŶ ŬĞƉĞŶƚŝŶŐĂŶ
ƐĞďĂŐĂŝďĞŶƚƵŬŵŝƚŝŐĂƐŝƌŝƐŝŬŽWĞƌƐĞƌŽĂŶĚĂůĂŵŵĞŶŐŚĂĚĂƉŝŬĞŵƵŶŐŬŝŶĂŶďĞŶƚƵƌĂŶŬĞƉĞŶƚŝŶŐĂŶLJĂŶŐƚŝŵďƵů͘
ϭϮ͘ W D 'E'^,D Z Edh<E,h<hD
PT INDOMOBIL MULTI JASA TBK (“IMJ”)
͘ WĞŶĚŝƌŝĂŶ/D:
/D: ĚŝĚŝƌŬĂŶ ĚĞŶŐĂŶ ŶĂŵĂ Wd DƵůƚŝ dĂŵďĂŶŐ ďĂĚŝ͕ ďĞƌŬĞĚƵĚƵŬĂŶ Ěŝ :ĂŬĂƌƚĂ dŝŵƵƌ͕ ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ
WĞƌƐĞƌŽĂŶdĞƌďĂƚĂƐWdDƵůƚŝdĂŵďĂŶŐďĂĚŝEŽ͘ϲϳƚĂŶŐŐĂůϭϰĞƐĞŵďĞƌϮϬϬϰ͕LJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶƵůŝĂ
dĂƵĨĂŶŝ͕^,͕͘EŽƚĂƌŝƐƉĞŶŐŐĂŶƚŝĚĂƌŝ^ƵƚũŝƉƚŽ͕^,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂĚĂŶƚĞůĂŚ͗;ŝͿŵĞŶĚĂƉĂƚŬĂŶƉĞŶŐĞƐĂŚĂŶ
ĚĂƌŝ DĞŶƚĞƌŝ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ďĞƌĚĂƐĂƌŬĂŶ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶ
EŽ͘ ͲϯϮϬϭϴ͘,d͘Ϭϭ͘Ϭϭ͘d,͘ϮϬϬϱ ƚĂŶŐŐĂů Ϯ ĞƐĞŵďĞƌ ϮϬϬϱ͕ ;ŝŝͿ ĚŝĚĂĨƚĂƌŬĂŶ ƉĂĚĂ ƚĂŶŐŐĂů ϰ :ƵŶŝ ϮϬϬϴ ĚĂůĂŵ
ĂĨƚĂƌWĞƌƵƐĂŚĂĂŶĚŝ<ĂŶƚŽƌWĞŶĚĂĨƚĂƌĂŶWĞƌƵƐĂŚĂĂŶ<ŽƚĂ:ĂŬĂƌƚĂdŝŵƵƌĚĞŶŐĂŶEŽ͘dWϬϵϬϰϭϱϭϮϳϮϴϯĚĂŶ
EŽ͘ŐĞŶĚĂWĞŶĚĂĨƚĂƌĂŶϬϯϬͬ,͘Ϭϵ͘Ϭϰͬs/ͬϮϬϬϴ͕ĚĂŶ;ŝŝŝͿĚŝƵŵƵŵŬĂŶĚĂůĂŵdĂŵďĂŚĂŶEŽ͘ϭϮϰϭϳĚĂƌŝĞƌŝƚĂ
Negara Republik Indonesia (“BNRI”) No. 58 tanggal 18 Juli 2008(”Akta Pendirian”).
WĂĚĂ dĂŚƵŶ ϮϬϭϯ͕ ŶĂŵĂ /D: mengalami perubahan dari semula ‘PT Multi Tambang Abadi’ menjadi
‘WdIndomobil Multi Jasa’ sebagaimana tercantum dalam ŬƚĂĞƌŝƚĂĐĂƌĂZĂƉĂƚhŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵ
>ƵĂƌ ŝĂƐĂ Wd DƵůƚŝ dĂŵďĂŶŐ ďĂĚŝ EŽ͘ ϱϲ͕ ƚĂŶŐŐĂů ϭϯ &ĞďƌƵĂƌŝ ϮϬϭϯ LJĂŶŐ ĚŝďƵĂƚ ĚŝŚĂĚĂƉĂŶ /ƌ͘ EĂŶĞƚƚĞ
ĂŚLJĂŶŝĞ ,ĂŶĚĂƌŝ Ěŝ tĂƌƐŝƚŽ͕ ^,͕͘ EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ ĚĂŶ ƚĞůĂŚ͗ ;ŝͿ ŵĞŶĚĂƉĂƚŬĂŶ ƉĞƌƐĞƚƵũƵĂŶ ƉĞƌƵďĂŚĂŶ
ĂŶŐŐĂƌĂŶĚĂƐĂƌĚĂƌŝDĞŶƚĞƌŝ,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚ<ĞƉƵƚƵƐĂŶ
EŽ͘ ,hͲϬϵϲϲϵ͘,d͘Ϭϭ͘ϬϮ͘d,͘ϮϬϭϯ ƚĂŶŐŐĂů Ϯϴ &ĞďƌƵĂƌŝ ϮϬϭϯ͕ ;ŝŝͿ ĚŝĚĂĨƚĂƌŬĂŶ ĚĂůĂŵ ĂĨƚĂƌ WĞƌƐĞƌŽĂŶ
EŽ͘,hͲϬϬϭϲϴϱϬ͘,͘Ϭϭ͘Ϭϵ͘dĂŚƵŶϮϬϭϯƉĂĚĂƚĂŶŐŐĂůϮϴ&ĞďƌƵĂƌŝϮϬϭϯŽůĞŚDĞŶƚĞƌŝ ,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝ
DĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ͖
^ĞůĂŶũƵƚŶLJĂ͕ /D: ŵĞŶŐĂůĂŵŝ ƉĞƌƵďĂŚĂŶ ƐƚĂƚƵƐ ƉĞƌƐĞƌŽĂŶ ĚĂƌŝ ƐĞďĞůƵŵŶLJĂ ďĞƌďĞŶƚƵŬ ƉĞƌƐĞƌŽĂŶ ƚĞƌďĂƚĂƐ
ƚĞƌƚƵƚƵƉ ŵĞũĂĚŝ ƉĞƌƵƐĂŚĂĂŶ ƉƵďůŝŬ ;ƚĞƌďƵŬĂͿ͕ ŶĂŵĂ ƉĞƌƐĞƌŽĂŶ ŵĞŶũĂĚŝ “PT Indomobil Multi Jasa Tbk”
ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌĐĂŶƚƵŵ ĚĂůĂŵ ŬƚĂ WĞƌŶLJĂƚĂĂŶ <ĞƉƵƚƵƐĂŶ WĞŵĞŐĂŶŐ ^ĂŚĂŵ WĞƌƵďĂŚĂŶ ŶŐŐĂƌĂŶ ĂƐĂƌ
Wd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂEŽ͘ϭϯϴ͕ƚĂŶŐŐĂůϯϬ:ƵůŝϮϬϭϯLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶƌLJĂŶƚŝƌƚŝƐĂƌŝ͕^,͕͘DŬŶ͕͘EŽƚĂƌŝƐ
Ěŝ:ĂŬĂƌƚĂĚĂŶƚĞůĂŚ͗;ŝͿŵĞŶĚĂƉĂƚŬĂŶƉĞƌƐĞƚƵũƵĂŶƉĞƌƵďĂŚĂŶĂŶŐŐĂƌĂŶĚĂƐĂƌĚĂƌŝDĞŶƚĞƌŝ,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝ
DĂŶƵƐŝĂ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ďĞƌĚĂƐĂƌŬĂŶ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶŶLJĂ EŽ͘ ,h͘ϰϮϮϱϴ͘,͘Ϭϭ͘ϬϮ͘d,͘ϮϬϭϯ ƚĂŶŐŐĂů
ϭϮŐƵƐƚƵƐϮϬϭϯ͕;ŝŝͿĚŝĚĂĨƚĂƌŬĂŶĚĂůĂŵĂĨƚĂƌWĞƌƐĞƌŽĂŶEŽ͘,hͲϬϬϳϰϴϭϲ͘,͘Ϭϭ͘Ϭϵ͘dĂŚƵŶϮϬϭϯƉĂĚĂƚĂŶŐŐĂů
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ϭϮŐƵƐƚƵƐϮϬϭϯŽůĞŚDĞŶƚĞƌŝ,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ͕;ŝŝŝͿĚŝďĞƌŝƚĂŚƵŬĂŶŬĞƉĂĚĂĚĂŶ
ĚŝƚĞƌŝŵĂ ƐĞƌƚĂ ĚŝĐĂƚĂƚ ĚĂůĂŵ ĂƚĂďĂƐĞ ^ŝƐŵŝŶďĂŬƵŵ <ĞŵĞŶƚĞƌŝĂŶ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ
/ŶĚŽŶĞƐŝĂƐĞďĂŐĂŝŵĂŶĂƚĞƌŶLJĂƚĂĚĂƌŝ^ƵƌĂƚWĞŶĞƌŝŵĂĂŶWĞŵďĞƌŝƚĂŚƵĂŶWĞƌƵďĂŚĂŶŶŐŐĂƌĂŶĂƐĂƌWĞƌƐĞƌŽĂŶ
EŽ͘,hͲ,͘Ϭϭ͘ϭϬͲϯϰϱϯϰƚĂŶŐŐĂůϮϯŐƵƐƚƵƐϮϬϭϯ͕;ŝǀͿĚŝĚĂĨƚĂƌŬĂŶĚĂůĂŵĂĨƚĂƌWĞƌƐĞƌŽĂŶEŽ͘,hͲϬϬϳϴϳϳϴ
ƉĂĚĂƚĂŶŐŐĂůϮϯŐƵƐƚƵƐϮϬϭϯŽůĞŚDĞŶƚĞƌŝ,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ͕;ǀͿĚŝĚĂĨƚĂƌŬĂŶ
ƉĂĚĂ ƚĂŶŐŐĂů ϴ KŬƚŽďĞƌ ϮϬϭϯ ĚĂůĂŵ ĂĨƚĂƌ WĞƌƵƐĂŚĂĂŶ Ěŝ <ĂŶƚŽƌ ŝŶĂƐ <ŽƉĞƌĂƐŝ͕ hƐĂŚĂ DŝŬƌŽ͕ <ĞĐŝů ĚĂŶ
DĞŶĞŶŐĂŚ͕ĚĂŶWĞƌĚĂŐĂŶŐĂŶ<ŽĚLJĂ:ĂŬĂƌƚĂdŝŵƵƌ͕ƐĞůĂŬƵ<ĞƉĂůĂ<ĂŶƚŽƌWĞŶĚĂĨƚĂƌĂŶWĞƌƵƐĂŚĂĂŶĂƚŝ//ĚĞŶŐĂŶ
EŽ͘dWϬϵ͘Ϭϰ͘ϭ͘ϰϱ͘Ϯϳϭϴϯ͘
͘ ŶŐŐĂƌĂŶĂƐĂƌdĞƌĂŬŚŝƌ
WĂĚĂ ƚĂŶŐŐĂů WƌŽƐƉĞŬƚƵƐ ŝŶŝ ĚŝƚĞƌďŝƚŬĂŶ͕ŶŐŐĂƌĂŶ ĂƐĂƌ ƚĞůĂŚ ďĞďĞƌĂƉĂ ŬĂůŝ ŵĞŶŐĂůĂŵŝ ďĞƌƵďĂŚĂŶ͕ LJĂŶŐ
ƚĞƌĂŬŚŝƌĂĚĂůĂŚƐĞďĂŐĂŝŵĂŶĂƚĞƌŵĂŬƚƵďĚĂůĂŵŬƚĂWĞƌŶLJĂƚĂĂŶ<ĞƉƵƚƵƐĂŶZĂƉĂƚ/D:EŽ͘Ϯϲ͕ƚĂŶŐŐĂůϭϱŐƵƐƚƵƐ
ϮϬϮϮ LJĂŶŐ ĚŝďƵĂƚ ĚŝŚĂĚĂƉĂŶ /ƌ͘ EĂŶĞƚƚĞ ĂŚLJĂŶŝĞ ,ĂŶĚĂƌŝ Ěŝ tĂƌƐŝƚŽ͕ ^,͕͘ EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ ĚĂŶ ƚĞůĂŚ͗ ;ŝͿ
ŵĞŶĚĂƉĂƚŬĂŶƉĞƌƐĞƚƵũƵĂŶĚĂƌŝDĞŶƚĞƌŝ,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚ
<ĞƉƵƚƵƐĂŶŶLJĂEŽ͘,hͲϬϬϱϴϵϱϮ͘,͘Ϭϭ͘ϬϮ͘dĂŚƵŶϮϬϮϮdĂŶŐŐĂůϭϵŐƵƐƚƵƐϮϬϮϮ͖;ŝŝͿĚŝďĞƌŝƚĂŚƵŬĂŶŬĞƉĂĚĂĚĂŶ
ĚŝƚĞƌŝŵĂ ƐĞƌƚĂ ĚŝĐĂƚĂƚ ĚĂůĂŵ ĂƚĂďĂƐĞ ^ŝƐŵŝŶďĂŬƵŵ <ĞŵĞŶƚĞƌŝĂŶ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ
/ŶĚŽŶĞƐŝĂ ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌŶLJĂƚĂ ĚĂůĂŵ ^ƵƌĂƚ WĞŶĞƌŝŵĂĂŶ WĞŵďĞƌŝƚĂŚƵĂŶ WĞƌƵďĂŚĂŶ ĂƚĂ WĞƌƐĞƌŽĂŶ
EŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϬϰϱϱϬϰ ƚĂŶŐŐĂů ϭϵ ŐƵƐƚƵƐ ϮϬϮϮ͕ ;ŝŝŝͿ ĚŝĚĂĨƚĂƌŬĂŶ ĚĂůĂŵ ĂĨƚĂƌ WĞƌƐĞƌŽĂŶ
EŽ͘ ,hͲϬϭϲϮϱϲϲ͘,͘Ϭϭ͘ϭϭ͘dĂŚƵŶ ϮϬϮϮ ƉĂĚĂ ƚĂŶŐŐĂů ϭϵ ŐƵƐƚƵƐ ϮϬϮϮ ŽůĞŚ DĞŶƚĞƌŝ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ
Manusia Republik Indonesia, (“Akta No. 26/2022”), berdasarkan mana <ĞƉƵƚƵƐĂŶZĂƉĂƚ͕ƚĂŶŐŐĂůϮϳ:ƵůŝϮϬϮϮ͕
ƚĞůĂŚŵĞŶLJĞƚƵũƵŝƉĞƌƵďĂŚĂŶƌĞĚĂŬƐŝWĂƐĂůϯŶŐŐĂƌĂŶĂƐĂƌ͕ƚĞŶƚĂŶŐŵĂŬƐƵĚĚĂŶƚƵũƵĂŶƐĞƌƚĂŬĞŐŝĂƚĂŶƵƐĂŚĂ
ƵŶƚƵŬĚŝƐĞƐƵĂŝŬĂŶĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶ<>/ϮϬϮϬĚĞŶŐĂŶŵĞŵƉĞƌŚĂƚŝŬĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐƵŶĚĂŶŐĂŶLJĂŶŐ
ďĞƌůĂŬƵ͘
/D:ƐĂĂƚŝŶŝďĞƌĚŽŵŝƐŝůŝĚŝ/ŶĚŽŵŽďŝůdŽǁĞƌ>ƚ͘ϭϭ͕:ů͘Dd,ĂƌLJŽŶŽ<Ăǀ͘ϭϭ:ĂŬĂƌƚĂϭϯϯϯϬ͘
WĞƌƵďĂŚĂŶͲƉĞƌƵďĂŚĂŶƚĞƌŚĂĚĂƉŶŐŐĂƌĂŶĂƐĂƌƚĞůĂŚĚŝůĂŬƐĂŶĂŬĂŶƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶŶŐŐĂƌĂŶĂƐĂƌ
ĚĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͘
͘ ^ƚƌƵŬƚƵƌWĞƌŵŽĚĂůĂŶ͕^ƵƐƵŶĂŶWĞŵĞŐĂŶŐ^ĂŚĂŵ^ĞƌƚĂ<ŽŵƉŽƐŝƐŝ<ĞƉĞŵŝůŝŬĂŶ^ĂŚĂŵ
WĂĚĂƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶ͕ƐƚƌƵŬƚƵƌƉĞƌŵŽĚĂůĂŶĚĂŶƐƵƐƵŶĂŶƉĞŵĞŐĂŶŐƐĂŚĂŵƐĞƌƚĂŬŽŵƉŽƐŝƐŝ
ŬĞƉĞŵŝůŝŬĂŶƐĂŚĂŵLJĂŶŐƚĞƌĂŬŚŝƌĂĚĂůĂŚƐĞďĂŐĂŝŵĂŶĂƚĞƌŵĂŬƚƵďĚĂůĂŵŬƚĂEŽ͘ϮϲͬϮϬϮϮ͕
ϭ͘ DŽĚĂůĂƐĂƌďĞƌũƵŵůĂŚZƉϯ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ;ƚŝŐĂƚƌŝůŝƵŶZƵƉŝĂŚͿ͕ƚĞƌďĂŐŝĂƚĂƐϭϱ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ;ůŝŵĂďĞůĂƐ
ŵŝůŝĂƌͿƐĂŚĂŵĚĞŶŐĂŶŶŝůĂŝŶŽŵŝŶĂůŵĂƐŝŶŐͲŵĂƐŝŶŐƐĂŚĂŵƐĞďĞƐĂƌZƉϮϬϬ͕ϬϬ;ĚƵĂƌĂƚƵƐZƵƉŝĂŚͿ͖
Ϯ͘ ĂƌŝŵŽĚĂůĚĂƐĂƌƚĞƌƐĞďƵƚƚĞůĂŚĚŝƚĞŵƉĂƚŬĂŶĚĂŶĚŝƐĞƚŽƌƐĞďĂŶLJĂŬϴ͘ϲϱϰ͘ϯϮϱ͘ϬϬϬ;ĚĞůĂƉĂŶŵŝůŝĂƌĞŶĂŵƌĂƚƵƐ
ůŝŵĂƉƵůƵŚĞŵƉĂƚũƵƚĂƚŝŐĂƌĂƚƵƐĚƵĂƉƵůƵŚůŝŵĂƌŝďƵͿƐĂŚĂŵĂƚĂƵƐĞŚĂƌŐĂZƉ͘ϭ͘ϳϯϬ͘ϴϲϱ͘ϬϬϬ͘ϬϬϬ;ƐĂƚƵƚƌŝůŝƵŶ
ƚƵũƵŚƌĂƚƵƐƚŝŐĂƉƵůƵŚŵŝůŝĂƌĚĞůĂƉĂŶƌĂƚƵƐĞŶĂŵƉƵůƵŚůŝŵĂũƵƚĂZƵƉŝĂŚͿ͘
^ƚƌƵŬƚƵƌ ƉĞƌŵŽĚĂůĂŶ͕ ƐƵƐƵŶĂŶ ƉĞŵĞŐĂŶŐ ƐĂŚĂŵ ƐĞƌƚĂ ŬŽŵƉŝƐŝƐŝ ŬĞƉĞŵŝůŝŬĂŶ ƐĂŚĂŵ LJĂŶŐ ƚĞƌĂŬŚŝƌ͕ ĂĚĂůĂŚ
ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
DŽĚĂůĂƐĂƌ ͗ ZƉϯ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕ϬϬ;ƚŝŐĂƚƌŝůŝƵŶZƵƉŝĂŚͿ͕ƚĞƌďĂŐŝĂƚĂƐϭϱ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ;ůŝŵĂďĞůĂƐ
ŵŝůŝĂƌͿ ƐĂŚĂŵ ĚĞŶŐĂŶ ŶŝůĂŝ ŶŽŵŝŶĂů ŵĂƐŝŶŐͲŵĂƐŝŶŐ ƐĂŚĂŵ ƐĞďĞƐĂƌ ZƉϮϬϬ͕ϬϬ ;ĚƵĂ
ƌĂƚƵƐZƵƉŝĂŚͿ͘
DŽĚĂůŝƚĞŵƉĂƚŬĂŶ ͗ ZƉϭ͘ϳϯϬ͘ϴϲϱ͘ϬϬϬ͘ϬϬϬ ;ƐĂƚƵƚƌŝůŝƵŶƚƵũƵŚƌĂƚƵƐƚŝŐĂƉƵůƵŚŵŝůŝĂƌĚĞůĂƉĂŶƌĂƚƵƐĞŶĂŵ
ƉƵůƵŚůŝŵĂũƵƚĂZƵƉŝĂŚͿ͘dĞƌďĂŐŝĂƚĂƐƐĞďĂŶLJĂŬϴ͘ϲϱϰ͘ϯϮϱ͘ϬϬϬ;ĚĞůĂƉĂŶŵŝůŝĂƌĞŶĂŵ
ƌĂƚƵƐůŝŵĂƉƵůƵŚĞŵƉĂƚũƵƚĂƚŝŐĂƌĂƚƵƐĚƵĂƉƵůƵŚůŝŵĂƌŝďƵͿůĞŵďĂƌƐĂŚĂŵ͘
DŽĚĂůŝƐĞƚŽƌ ͗ ZƉϭ͘ϳϯϬ͘ϴϲϱ͘ϬϬϬ͘ϬϬϬ ;ƐĂƚƵƚƌŝůŝƵŶƚƵũƵŚƌĂƚƵƐƚŝŐĂƉƵůƵŚŵŝůŝĂƌĚĞůĂƉĂŶƌĂƚƵƐĞŶĂŵ
ƉƵůƵŚůŝŵĂũƵƚĂZƵƉŝĂŚ͘
^ĞůĂŶũƵƚŶLJĂ͕ďĞƌĚĂƐĂƌŬĂŶĂĨƚĂƌWĞŵĞŐĂŶŐ^ĂŚĂŵƉĞƌϯϭĞƐĞŵďĞƌϮϬϮϰLJĂŶŐĚŝŬĞůƵĂƌŬĂŶŽůĞŚWdZĂLJĂ^ĂŚĂŵ
ZĞŐŝƐƚƌĂƐĞůĂŬƵŝƌŽĚŵŝŶŝƐƚƌĂƐŝ ĨĞŬ/D:͕ƐƵƐƵŶĂŶƉĞŵĞŐĂŶŐƐĂŚĂŵĚĂŶŬŽŵƉŽƐŝƐŝŬĞƉĞŵŝůŝŬĂŶƐĂŚĂŵĚĂůĂŵ
/D:͕ĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
108
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PT INDOMOBIL FINANCE INDONESIA
EŝůĂŝEŽŵŝŶĂůZƉϮϬϬƉĞƌƐĂŚĂŵ WĞƌƐĞŶƚĂƐĞ
<ĞƚĞƌĂŶŐĂŶ
:ƵŵůĂŚ^ĂŚĂŵ EŝůĂŝEŽŵŝŶĂů;ZƉͿ ;йͿ
DŽĚĂůĂƐĂƌ ϭϱ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ ϯ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
DŽĚĂůŝƚĞŵƉĂƚŬĂŶĚĂŶŝƐĞƚŽƌ
Wd/ŶĚŽŵŽďŝů^ƵŬƐĞƐ/ŶƚĞƌŶĂƐŝŽŶĂůdďŬ ϳ͘ϵϱϵ͘ϰϮϮ͘ϴϳϭ ϭ͘ϱϵϭ͘ϴϴϰ͘ϱϳϰ͘ϮϬϬ ϵϭ͕ϵϲ
Wd/ŶĚŽŵŽďŝůDĂŶĂũĞŵĞŶŽƌƉŽƌĂ ϳ͘ϱϬϬ ϭ͘ϱϬϬ͘ϬϬϬ Ϭ͕Ϭϭ
DĂƐLJĂƌĂŬĂƚ;ŬĞƉĞŵŝůŝŬĂŶфϱйͿ ϲϵϰ͘ϴϵϰ͘ϲϮϵ ϭϯϴ͘ϵϳϴ͘ϵϮϱ͘ϴϬϬ ϴ͕Ϭϯ
DŽĚĂůŝƚĞŵƉĂƚŬĂŶͬŝƐĞƚŽƌ ϴ͘ϲϱϰ͘ϯϮϱ͘ϬϬϬ ϭ͘ϳϯϬ͘ϴϲϱ͘ϬϬϬ͘ϬϬϬ ϭϬϬ͕ϬϬ
^ĂŚĂŵĂůĂŵWŽƌƚĞƉĞů ϵ͘ϮϯϬ͘ϰϱϬ͘ϬϬϬ ϭ͘ϴϰϲ͘ϬϵϬ͘ϬϬϬ͘ϬϬϬ
͘ DĂŬƐƵĚĚĂŶdƵũƵĂŶƐĞƌƚĂ<ĞŐŝĂƚĂŶhƐĂŚĂ/D:
ĞƌĚĂƐĂƌŬĂŶŬƚĂEŽ͘ϮϲͬϮϬϮϮ͕ŬĞƚĞŶƚƵĂŶWĂƐĂůϯ LJĂƚ;ϭͿŶŐŐĂƌĂŶĂƐĂƌ /D:͕ŵĂŬƐƵĚĚĂŶ ƚƵũƵĂŶ/D:ŝĂůĂŚ
ďĞƌƵƐĂŚĂĚĂůĂŵĚŝďŝĚĂŶŐƉĞƌĚĂŐĂŶŐĂŶ͕ƉĞƌďĞŶŐŬĞůĂŶ͕ũĂƐĂ͕ĚĂŶƉĞŶŐĂŶŐŬƵƚĂŶ͘
^ĞůĂŶũƵƚŶLJĂƐĞƐƵĂŝĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶWĂƐĂůϯLJĂƚ;ϮͿŶŐŐĂƌĂŶĂƐĂƌ/D:͕ƵŶƚƵŬŵĞŶĐĂƉĂŝŵĂŬƐƵĚĚĂŶƚƵũƵĂŶ
ƚĞƌƐĞďƵƚĚŝĂƚĂƐ͕/D:ĚĂƉĂƚŵĞůĂŬƐĂŶĂŬĂŶŬĞŐŝĂƚĂŶƵƐĂŚĂƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
<ĞŐŝĂƚĂŶhƐĂŚĂ
^ĞƐƵĂŝ ŬĞƚĞŶƚƵĂŶ WĂƐĂů ϯ LJĂƚ ;ϭͿ ŶŐŐĂƌĂŶ ĂƐĂƌ͕ ŵĂŬƐƵĚ ĚĂŶ ƚƵũƵĂŶ ĂĚĂůĂŚ ďĞƌƵƐĂŚĂ ĚĂůĂŵ ĚŝďŝĚĂŶŐ
ƉĞƌĚĂŐĂŶŐĂŶ͕ƉĞƌďĞŶŐŬĞůĂŶ͕ũĂƐĂ͕ĚĂŶƉĞŶŐĂŶŐŬƵƚĂŶ͘
^ĞůĂŶũƵƚŶLJĂ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ WĂƐĂů ϯ LJĂƚ ;ϮͿ ŶŐŐĂƌĂŶ ĂƐĂƌ͕ ƵŶƚƵŬ ŵĞŶĐĂƉĂŝ ŵĂŬƐƵĚ ĚĂŶ ƚƵũƵĂŶ
ƚĞƌƐĞďƵƚĚŝĂƚĂƐ͕ĚĂƉĂƚŵĞůĂŬƐĂŶĂŬĂŶŬĞŐŝĂƚĂŶƵƐĂŚĂƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ŝ͘ <ĞŐŝĂƚĂŶhƐĂŚĂhƚĂŵĂ
Ă͘ ͲWĞƌĚĂŐĂŶŐĂŶĞƐĂƌDŽďŝůĂƌƵ;ϰϱϭϬϭͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞƌĚĂŐĂŶŐĂŶďĞƐĂƌŵŽďŝůďĂƌƵ͕ƚĞƌŵĂƐƵŬŵŽďŝůŬŚƵƐƵƐ;ƐĞƉĞƌƚŝĂŵďƵůĂŶƐ͕ŬĂƌĂǀĂŶ͕
ŵŝŬƌŽďƵƐ͕ ƉĞŵĂĚĂŵ ŬĞďĂŬĂƌĂŶ ĚĂŶ ƐĞďĂŐĂŝŶLJĂͿ ůŽƌŝ͕ ƚƌĂŝůĞƌ͕ ƐĞŵŝ ƚƌĂŝůĞƌ ĚĂŶ ďĞƌďĂŐĂŝ ŬĞŶĚĂƌĂĂŶ
ƉĞŶŐĂŶŐŬƵƚŵŽƚŽƌůĂŝŶŶLJĂ͘
- WĞƌĚĂŐĂŶŐĂŶĞƐĂƌDŽďŝůĞŬĂƐ;ϰϱϭϬϮͿ͘
ŵĞŶĐĂŬƵƉ ƵƐĂŚĂ ƉĞŶũƵĂůĂŶĂŶ ĞĐĞƌĂŶ ŵŽďŝů ďĞŬĂƐ͕ ƚĞƌŵĂƐƵŬ ŵŽďŝů ŬŚƵƐƵƐ ;ƐĞƉĞƌƚŝ ĂŵďƵůĂŶƐ͕
ŬĂƌĂǀĂŶ͕ ŵŝŬƌŽďƵƐ͕ ƉĞŵĂĚĂŵ ŬĞďĂŬĂƌĂŶ ĚĂŶ ƐĞďĂŐĂŝŶLJĂͿ ůŽƌŝ͕ ƚƌĂŝůĞƌ͕ ƐĞŵŝ ƚƌĂŝůĞƌ ĚĂŶ ďĞƌďĂŐĂŝ
ŬĞŶĚĂƌĂĂŶƉĞŶŐĂŶŐŬƵƚŵŽƚŽƌůĂŝŶŶLJĂ͘
- WĞƌĚĂŐĂŶŐĂŶ ĐĞƌĂŶDŽďŝůĂƌƵ;ϰϱϭϬϯͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞŶũƵĂůĂŶĂŶĞĐĞƌĂŶŵŽďŝůďĂƌƵ͕ƚĞƌŵĂƐƵŬŵŽďŝůŬŚƵƐƵƐ;ƐĞƉĞƌƚŝĂŵďƵůĂŶƐ͕ŬĂƌĂǀĂŶ͕
ŵŝŬƌŽďƵƐ͕ ƉĞŵĂĚĂŵ ŬĞďĂŬĂƌĂŶ ĚĂŶ ƐĞďĂŐĂŝŶLJĂͿ ůŽƌŝ͕ ƚƌĂŝůĞƌ͕ ƐĞŵŝ ƚƌĂŝůĞƌ ĚĂŶ ďĞƌďĂŐĂŝ ŬĞŶĚĂƌĂĂŶ
ƉĞŶŐĂŶŐŬƵƚŵŽƚŽƌůĂŝŶŶLJĂ͘
- WĞƌĚĂŐĂŶŐĂŶ ĐĞƌĂŶDŽďŝůĞŬĂƐ;ϰϱϭϬϰͿ͘
ŵĞŶĐĂŬƵƉ ƵƐĂŚĂ ƉĞŶũƵĂůĂŶĂŶ ĞĐĞƌĂŶ ŵŽďŝů ďĞŬĂƐ͕ ƚĞƌŵĂƐƵŬ ŵŽďŝů ŬŚƵƐƵƐ ;ƐĞƉĞƌƚŝ ĂŵďƵůĂŶƐ͕
ŬĂƌĂǀĂŶ͕ ŵŝŬƌŽďƵƐ͕ ƉĞŵĂĚĂŵ ŬĞďĂŬĂƌĂŶ ĚĂŶ ƐĞďĂŐĂŝŶLJĂͿ ůŽƌŝ͕ ƚƌĂŝůĞƌ͕ ƐĞŵŝ ƚƌĂŝůĞƌ ĚĂŶ ďĞƌďĂŐĂŝ
ŬĞŶĚĂƌĂĂŶƉĞŶŐĂŶŐŬƵƚŵŽƚŽƌůĂŝŶŶLJĂ͘
- WĞƌĚĂŐĂŶŐĂŶĞƐĂƌ^ƵŬƵĂĚĂŶŐĚĂŶŬƐĞƐŽƌŝDŽďŝů;ϰϱϯϬϭͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞƌĚĂŐĂŶŐĂŶďĞƐĂƌďĞƌďĂŐĂŝƐƵŬƵĐĂĚĂŶŐŬŽŵƉŽŶĞŶĚĂŶĂŬƐĞƐŽƌŝLJĂŶŐƚĞƌƉŝƐĂŚĚĂƌŝ
ƉĞƌĚĂŐĂŶŐĂŶŶLJĂƐĞƉĞƌƚŝŬĂƌĞƚďĂŶĚĂŶďĂŶĚĂůĂŵ͕ďƵƐŝŵŽďŝů͕ďĂƚĞƌĂŝ;ĂŬŝͿ͕ƉĞƌůĞŶŐŬĂƉĂŶůĂŵƉƵĚĂŶ
ďĂŐŝĂŶŬĞůŝƐƚƌŝŬĂŶ͘
- WĞƌĚĂŐĂŶŐĂŶ ĐĞƌĂŶ^ƵŬƵĂĚĂŶŐĚĂŶŬƐĞƐŽƌŝDŽďŝů;ϰϱϯϬϮͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞŶũƵĂůĂŶĞĐĞƌĂŶďĞƌďĂŐĂŝƐƵŬƵĐĂĚĂŶŐŬŽŵƉŽŶĞŶĚĂŶĂŬƐĞƐŽƌŝLJĂŶŐƚĞƌƉŝƐĂŚĚĂƌŝ
ƉĞƌĚĂŐĂŶŐĂŶŶLJĂƐĞƉĞƌƚŝŬĂƌĞƚďĂŶĚĂŶďĂŶĚĂůĂŵ͕ďƵƐŝŵŽďŝů͕ďĂƚĞƌĂŝ;ĂŬŝͿ͕ƉĞƌůĞŶŐŬĂƉĂŶůĂŵƉƵĚĂŶ
ďĂŐŝĂŶŬĞůŝƐƚƌŝŬĂŶ͘
- WĞƌĚĂŐĂŶŐĂŶĞƐĂƌ^ĞƉĞĚĂDŽƚŽƌĂƌƵ;ϰϱϰϬϭͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞƌĚĂŐĂŶŐĂŶďĞƐĂƌƐĞƉĞĚĂŵŽƚŽƌďĂƌƵ͕ƚĞƌŵĂƐƵŬŵŽƚŽƌƐĞƉĞĚĂĂƚĂƵŵŽƉĞĚ͖
- WĞƌĚĂŐĂŶŐĂŶĞƐĂƌ^ĞƉĞĚĂDŽƚŽƌĞŬĂƐ;ϰϱϰϬϮͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞƌĚĂŐĂŶŐĂŶďĞƐĂƌƐĞƉĞĚĂŵŽƚŽƌďĞŬĂƐ͕ƚĞƌŵĂƐƵŬŵŽƚŽƌƐĞƉĞĚĂĂƚĂƵŵŽƉĞĚ͖
- WĞƌĚĂŐĂŶŐĂŶ ĐĞƌĂŶ^ĞƉĞĚĂDŽƚŽƌĂƌƵ;ϰϱϰϬϯͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞŶũƵĂůĂŶĞĐĞƌĂŶƐĞƉĞĚĂŵŽƚŽƌďĂƌƵ͕ƚĞƌŵĂƐƵŬŵŽƚŽƌƐĞƉĞĚĂĂƚĂƵŵŽƉĞĚ͖
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PT INDOMOBIL FINANCE INDONESIA
- WĞƌĚĂŐĂŶŐĂŶ ĐĞƌĂŶ^ĞƉĞĚĂDŽƚŽƌĞŬĂƐ;ϰϱϰϬϰͿ͘
ŵĞŶĐĂŬƵƉ ƵƐĂŚĂ ƉĞŶũƵĂůĂŶĂ ĞĐĞƌĂŶ ƐĞƉĞĚĂ ŵŽƚŽƌ ďĞŬĂƐ͕ ƚĞƌŵĂƐƵŬ ŵŽƚŽƌ ƐĞƉĞĚĂ ĂƚĂƵ
ŵŽƉĞĚ͖
- WĞƌĚĂŐĂŶŐĂŶĞƐĂƌ^ƵŬƵĂĚĂŶŐ^ĞƉĞĚĂDŽƚŽƌĚĂŶŬƐĞƐŽƌŝŶLJĂ;ϰϱϰϬϱͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞƌĚĂŐĂŶŐĂŶďĞƐĂƌƐƵŬƵĐĂĚĂŶŐƐĞƉĞĚĂŵŽƚŽƌĚĂŶĂŬƐĞƐŽƌŝŶLJĂ͘
- WĞƌĚĂŐĂŶŐĂŶ ĐĞƌĂŶ^ƵŬƵĂĚĂŶŐ^ĞƉĞĚĂDŽƚŽƌĂŶŬƐĞƐŽƌŝŶLJĂ;ϰϱϰϬϲͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞŶũƵĂůĂŶĞĐĞƌĂŶƐƵŬƵĐĂĚĂŶŐƐĞƉĞĚĂŵŽƚŽƌĚĂŶĂŬƐĞƐŽƌŝŶLJĂ͘
- WĞƌĚĂŐĂŶŐĂŶĞƐĂƌƚĂƐĂƐĂƌĂůĂƐ:ĂƐĂ;&ĞĞͿĂƚĂƵŬŽŶƚƌĂŬ;ϰϲϭϬϬͿ͘
ŵĞŶĐĂŬƵƉ ƵƐĂŚĂ ĂŐĞŶ LJĂŶŐ ŵĞŶĞƌŝŵĂ ŬŽŵŝƐŝ͕ ƉĞƌĂŶƚĂƌĂ ;ŵĂŬĞůĂƌͿ ƉĞůĞůĂŶŐĂŶ͕ ĚĂŶ
ƉĞƌĚĂŐĂŶŐĂŶ ďĞƐĂƌ ůĂŝŶŶLJĂ LJĂŶŐ ŵĞŵƉĞƌĚĂŐĂŶŐŬĂŶ ďĂƌĂŶŐͲďĂƌĂŶŐ Ěŝ ĚĂůĂŵ ŶĞŐĞƌŝ͕ ůƵĂƌ
ŶĞŐĞƌŝĂƚĂƐŶĂŵĂƉŝŚĂŬůĂŝŶ͘<ĞŐŝĂƚĂŶŶLJĂĂŶƚĂƌĂůĂŝŶĂŐĞŶŬŽŵŝƐŝ͕ďƌŽŬĞƌďĂƌĂŶŐĚĂŶƐĞůƵƌƵŚ
ƉĞƌĚĂŐĂŶŐĂŶďĞƐĂƌůĂŝŶŶLJĂLJĂŶŐŵĞŶũƵĂůĂƚĂƐŶĂŵĂĚĂŶƚĂŶŐŐƵŶŐĂŶƉŝŚĂŬůĂŝŶ͖ŬĞŐŝĂƚĂŶLJĂŶŐ
ƚĞƌůŝďĂƚ ĚĂůĂŵ ƉĞŶũƵĂůĂŶ ĚĂŶ ƉĞŵďĞůŝĂŶ ďĞƌƐĂŵĂ ĂƚĂƵ ŵĞůĂŬƵŬĂŶ ƚƌĂŶƐĂŬƐŝ ĂƚĂƐ ŶĂŵĂ
ƉĞƌƵƐĂŚĂĂŶ ƚĞƌŵĂƐƵŬ ŵĞůĂůƵŝ ŝŶƚĞƌŶĞƚ ĚĂŶ ĂŐĞŶ LJĂŶŐ ƚĞƌůŝďĂƚ ĚĂůĂŵ ƉĞƌĚĂŐĂŶŐĂŶ ƐĞƉĞƌƚŝ
ďĂŚĂŶďĂŬƵƉĞƌƚĂŶŝĂŶ͕ďŝŶĂƚĂŶŐŚŝĚƵƉ͕ďĂŚĂŶďĂŬƵƚĞŬƐƚŝůĚĂŶďĂƌĂŶŐƐĞƚĞŶŐĂŚũĂĚŝ͖ďĂŚĂŶ
ďĂŬĂƌ͕ ďŝũŝŚ ďŝũŝŚĂŶ͕ ůŽŐĂŵ ĚĂŶ ŝŶĚƵƐƚƌŝ ŬŝŵŝĂ͕ ƚĞƌŵĂƐƵŬ ƉƵƉƵŬ͕ ŵĂŬĂŶĂŶ͕ ŵŝŶƵŵĂŶ ĚĂŶ
ƚĞŵďĂŬĂƵ͖ ƚĞŬƐƚŝů͕ ƉĂŬĂŝĂŶ͕ ďƵůƵ͕ ĂůĂƐ ŬĂŬŝ ĚĂŶ ďĂƌĂŶŐ ĚĂƌŝ ŬƵůŝƚ͖ ŬĂLJƵͲŬĂLJƵĂŶ ĚĂŶ ďĂŚĂŶ
ďĂŶŐƵŶĂŶ͖ ŵĞƐŝŶ͕ ƚĞƌŵĂƐƵŬ ŵĞƐŝŶ ŬĂŶƚŽƌ ĚĂŶ ŬŽŵƉƵƚĞƌ͕ ƉĞƌůĞŶŐŬĂƉĂŶ ŝŶĚƵƐƚƌŝ͕ ŬĂƉĂů͕
ƉĞƐĂǁĂƚ͖ĨƵƌŶŝƚƵƌ͕ďĂƌĂŶŐŬĞƉĞƌůƵĂŶƌƵŵĂŚƚĂŶŐŐĂĚĂŶƉĞƌĂŶŐŬĂƚŬĞƌĂƐ͖ŬĞŐŝĂƚĂŶƉĞƌĚĂŐĂŶŐĂŶ
ďĞƐĂƌ ƌƵŵĂŚ ƉĞůĞůĂŶŐĂŶ͘ dŝĚĂŬ ƚĞƌŵĂƐƵŬ ŬĞŐŝĂƚĂŶ ƉĞƌĚĂŐĂŶŐĂŶ ďĞƐĂƌ ŵŽďŝů ĚĂŶ ƐĞƉĞĚĂ
ŵŽƚŽƌ͕ĚŝŵĂƐƵŬŬĂŶĚĂůĂŵŐŽůŽŶŐĂŶWĞƌĚĂŐĂŶŐĂŶDŽďŝů;ϰϱϭͿ͕ZĞƉĂƌƚĂƐŝĚĂŶWĞƌĂǁĂƚĂŶDŽďŝů
;ϰϱϮͿ WĞƌĚĂŐĂŶŐĂŶ ^ƵŬƵ ĂĚĂŶŐ ĚĂŶ ŬƐĞƐŽƌŝ DŽďŝů ;ϰϱϯͿ ĚĂŶ WĞƌĚĂŐĂŶŐĂŶ ZĞƉĂƌĂƐŝ ĚĂŶ
WĞƌĂǁĂƚĂŶ^ĞƉĞĚĂDŽƚŽƌĚĂŶWĞƌĚĂŐĂŶŐĂŶ^ƵŬƵĂĚĂŶŐĚĂŶŬƐĞƐŽƌŝƐŶLJĂ;ϰϱϰͿ͘
- WĞƌĚĂŐĂŶŐĂŶĞƐĂƌDĞƐŝŶ͕WĞƌĂůĂƚĂŶĚĂŶWĞƌůĞŶŐŬĂƉĂŶWĞƌƚĂŶŝĂŶ;ϰϲϱϯϬͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞƌĚĂŐĂŶŐĂŶďĞƐĂƌŵĞƐŝŶ͕ƉĞƌĂůĂƚĂŶĚĂŶ ƉĞƌůĞŶŐŬĂƉĂŶƉĞƌƚĂŶŝĂŶ͕ƐĞƉĞƌƚŝ͗
ďĂũĂŬ͕ƉĞŶLJĞďĂƌƉƵƉƵŬ͕ƉĞŶĂŶĂŵďŝũŝ͕ĂůĂƚƉĂŶĞŶ͕ĂůĂƚƉĞŶĞďĂŚ͕ŵĞƐŝŶƉĞŵĞƌĂŚƐƵƐƵ͕ŵĞƐŝŶ
ďĞƚĞƌŶĂŬƵŶŐŐĂƐĚĂŶŵĞƐŝŶďĞƚĞƌŶĂŬůĞďĂŚĚĂŶƚƌĂŬƚŽƌLJĂŶŐĚŝƉĞƌŐƵŶĂŬĂŶĚĂůĂŵƉĞƌƚĂŶŝĂŶ
ĚĂŶŬĞŚƵƚĂŶĂŶ͘dĞƌŵĂƐƵŬŵĞƐŝŶƉĞŵŽƚŽŶŐƌƵŵƉƵƚ͘
- WĞƌĚĂŐĂŶŐĂŶĞƐĂƌůĂƚdƌĂŶƐƉŽƌƚĂƐŝĂƌĂƚ;ďƵŬĂŶŵŽďŝů͕ƐĞƉĞĚĂŵŽƚŽƌĚĂŶƐĞũĞŶŝƐŶLJĂͿ^ƵŬƵ
ĂĚĂŶŐĚĂŶWĞƌůĞŶŐŬĂƉĂŶŶLJĂ;ϰϲϱϵϯͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞƌĚĂŐĂŶŐĂŶďĞƐĂƌŵĂĐĂŵŵĂĐĂŵĂůĂƚƚƌĂŶƐƉŽƌƚĂƐŝĚĂƌĂƚ͕ďĞƌŵŽƚŽƌĂƚĂƵƉƵŶ
ƚŝĚĂŬ ďĞƌŵŽƚŽƌ ;ďƵŬĂŶ ŵŽďŝů͕ ƐĞƉĞĚĂ ŵŽƚŽƌ ĚĂŶ ƐĞũĞŶŝƐŶLJĂͿ͕ ƚĞƌŵĂƐƵŬ ƵƐĂŚĂ ƉĞƌĚĂŐĂŶŐĂŶ
ďĞƐĂƌŵĂĐĂŵŵĂĐĂŵƐƵŬƵĐĂĚĂŶŐĚĂŶƉĞƌůĞŶŐŬĂƉĂŶŶLJĂ͘
- WĞƌĚĂŐĂŶŐĂŶĞƐĂƌĂŚĂŶĂŬĂƌWĂĚĂƚ͕Ăŝƌ͕ĚĂŶ'ĂƐĂŶWƌŽĚƵŬz/;ϰϲϲϭϬͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞƌĚĂŐĂŶŐĂŶďĂŚĂŶďĂŬĂƌŐĂƐ͕ĐĂŝƌĚĂŶƉĂĚĂƚƐĞƌƚĂƉƌŽĚƵŬƐĞũĞŶŝƐŶLJĂ͕ƐĞƉĞƌƚŝ
ŵŝŶLJĂŬďƵŵŝŵĞŶƚĂŚ͕ŵŝŶLJĂŬŵĞŶƚĂŚ͕ďĂŚĂŶďĂŬĂƌĚŝĞƐĞů͕ŐĂƐŽůŝŶĞ͕ďĂŚĂŶďĂŬĂƌŽůŝ͕ŬĞƌŽƐŝŶ͕
ƉƌĞŵŝƵŵ͕ƐŽůĂƌ͕ŵŝŶLJĂŬƚĂŶĂŚ͕ďĂƚƵďĂƌĂ͕ĂƌĂŶŐ͕ĂŵďĂƐĂƌĂŶŐďĂƚƵ͕ďĂŚĂŶďĂŬĂƌŬĂLJƵ͕ŶĂĨƚĂ
ĚĂŶ ďĂŚĂŶ ďĂŬĂƌ ůĂŝŶŶLJĂ ƚĞƌŵĂƐƵŬ ƉƵůĂ ďĂŚĂŶ ďĂŬĂƌ ŐĂƐ͕ ƐĞƉĞƌƚŝ >W'͕ ŐĂƐ ďƵƚĂŶĂ͕ ĚĂŶ
ƉƌŽƉĂŶĂ͕ŵŝŶLJĂŬƐĞŵŝƌ͕ŵŝŶLJĂŬƉĞůƵŵĂƐĚĂŶƉƌŽĚƵŬŵŝŶLJĂŬďƵŵŝLJĂŶŐƚĞůĂŚĚŝŵƵƌŶŝŬĂŶ͘
- WĞƌĚĂŐĂŶŐĂŶ ĐĞƌĂŶĂŚĂŶĂŬĂƌDŝŶLJĂŬ͕ĂŚĂŶĂŬĂƌ'ĂƐ;'Ϳ͕ĚĂŶ>ŝƋƵĞĨŝĞĚWĞƚƌŽůĞƵŵ
'ĂƐ;>W'ͿŝƐĂƌĂŶĂWĞŶŐŝƐŝĂŶĂŚĂŶĂŬĂƌdƌĂŶƐƉŽƌƚĂƐŝĂƌĂƚ͕>ĂƵƚ͕ĚĂŶhĚĂƌĂ;ϰϳϯϬϭͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞƌĚĂŐĂŶŐĂŶĞĐĞƌĂŶďĂŚĂŶďĂŬĂƌŵŝŶLJĂŬ͕ďĂŚĂŶďĂŬĂƌŐĂƐ͕>W'ĂƚĂƵũĞŶŝƐ
ďĂŚĂŶ ďĂŬĂƌ ůĂŝŶ Ěŝ ƐĂƌĂŶĂ ƉĞŶŐŝƐŝĂŶ ďĂŚĂŶ ďĂŬĂƌ ƵŶƚƵŬ ƚƌĂŶƐƉŽƌƚĂƐŝ ĚĂƌĂƚ͕ ůĂƵƚ ĚĂŶ ƵĚĂƌĂ
;ƐĞƉĞƌƚŝ ^Wh͕ ^W' ĚƐďͿ ƵŶƚƵŬ ŬĞŶĚĂƌĂĂŶ ďĞƌŵŽƚŽƌ ƐĞƉĞƌƚŝ ŵŽďŝů ĚĂŶ ƐĞƉĞĚĂ ŵŽƚŽƌ
;ŵŝƐĂůŶLJĂ ďĞŶƐŝŶ͕ ƐŽůĂƌ͕ ' ĚĂŶ >W'Ϳ͕ ƚĞƌŵĂƐƵŬ ƉƵůĂ ďĂŚĂŶ ďĂŬĂƌ ƵŶƚƵŬ ƐƉĞĞĚ ďŽĂƚ ĚĂŶ
ŐĞŶƐĞƚ͘ŝĂƐĂŶLJĂŬĞŐŝĂƚĂŶŝŶŝĚŝŬŽŵďŝŶĂƐŝŬĂŶĚĞŶŐĂŶƉĞŶũƵĂůĂŶďĂŚĂŶͲďĂŚĂŶƉĞůƵŵĂƐ͕ĐŽŽůŝŶŐ
ƉƌŽŽĚƵĐƚƐ͕ďĂŚĂŶͲďĂŚĂŶƉĞŵďĞƌƐŝŚĚĂŶďĂƌĂŶŐďĂƌĂŶŐůĂŝŶƵŶƚƵŬŬĞƉĞƌůƵĂŶŵŽďŝůĚĂŶƐĞƉĞĚĂ
ŵŽƚŽƌ͘ WĞƌĚĂŐĂŶŐĂŶ ďĞƐĂƌ ďĂŚĂŶ ďĂŬĂƌ ĚŝŵĂƐƵŬĂŶ ĚĂůĂŵ ŬĞůŽŵƉŽŬ ϰϲϲϭϬ͘ WĞƌĚĂŐĂŶŐĂŶ
ĞĐĞƌĂŶ >W' ĚĂŶ ďĂŚĂŶ ďĂŬĂƌ ƵŶƚƵŬ ŬĞƉĞƌůƵĂŶ ŵĞŵĂƐĂŬ ĂƚĂƵ ƉĞŵĂŶĂƐ ĚŝŵĂƐƵŬĂŶ ĚĂůĂŵ
ŬĞůŽŵƉŽŬϰϳϳϳϮ͘
- WĞƌĚĂŐĂŶŐĂŶ ĐĞƌĂŶĂŚĂŶĂŬĂƌDŝŶLJĂŬ͕ĂŚĂŶĂŬĂƌ'ĂƐ;'Ϳ͕ĚĂŶ>ŝƋƵĞĨŝĞĚWĞƚƌŽůĞƵŵ
'ĂƐ;>W'ͿƐĞůĂŝŶĚŝƐĂƌĂŶĂWĞŶŐŝƐŝĂŶĂŚĂŶĂŬĂƌdƌĂŶƐƉŽƌƚĂƐŝĂƌĂƚ͕>ĂƵƚ͕ĚĂŶhĚĂƌĂ;ϰϳϯϬϮͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞƌĚĂŐĂŶŐĂŶĞĐĞƌĂŶďĂŚĂŶďĂŬĂƌŵŝŶLJĂŬ͕ďĂŚĂŶďĂŬĂƌŐĂƐ͕>W'ĂƚĂƵũĞŶŝƐ
ďĂŚĂŶďĂŬĂƌůĂŝŶĚŝƐĂƌĂŶĂƉĞŶŐŝƐŝĂŶďĂŚĂŶďĂŬĂƌƵŶƚƵŬƚƌĂŶƐƉŽƌƚĂƐƐŝĚĂƌĂƚ͕ůĂƵƚĚĂŶƵĚĂƌĂ
;ƐĞƉĞƌƚŝĂŐĞŶD͕ĂŐĞŶ>W'ĚƐďͿ͘WĞƌĚĂŐĂŶŐĂŶĞĐĞƌĂŶďĂŚĂŶďĂŬĂƌƵŶƚƵŬŵŽďŝůĚĂŶƐĞƉĞĚĂ
ŵŽƚŽƌĚŝ^Wh͕ĚŝŵĂƐƵŬĂŶĚĂůĂŵŬĞůŽŵƉŽŬϰϳϯϬϭ͘
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PT INDOMOBIL FINANCE INDONESIA
ď͘ Ͳ ZĞƉĂƌĂƐŝDŽďŝů;ϰϱϮϬϭͿ
ŵĞŶĐĂŬƵƉƵƐĂŚĂƌĞƉĂƌĂƐŝĚĂŶƉĞƌĂǁĂƚĂŶŵŽďŝů͕ƐĞƉĞƌƚŝƌĞƉĂƌĂƐŝŵĞŬĂŶŝŬ͕ƌĞƉĂƌĂƐŝĞůĞŬƚƌŝŬ͕
ƌĞƉĂƌĂƐŝ ƐŝƐƚĞŵ ŝŶũĞŬƐŝ ĞůĞŬƚƌŽŶŝŬ͕ ƐĞƌǀŝƐ ƌĞŐƵůĂƌ͕ ƌĞƉĂƌĂƐŝ ďĂĚĂŶ ŵŽďŝů͕ ƌĞƉĂƌĂƐŝ ďĂŐŝĂŶ
ŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌƉĞŶLJĞŵƉƌŽƚĂŶĚĂŶƉĞŶŐĞĐĞƚĂŶ͕ƌĞƉĂƌĂƐŝŬĂĐĂĚĂŶũĞŶĚĞůĂĚĂŶƌĞƉĂƌĂƐŝ
ƚĞŵƉĂƚĚƵĚƵŬŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌ͘dĞƌŵĂƐƵŬƌĞƉĂƌĂƐŝƉĞŵĂƐĂŶŐĂŶ͕ ĂƚĂƵƉĞŶŐŐĂŶƚŝĂŶďĂŶ
ĚĂŶ ƉŝƉĂ͕ ƉĞƌĂǁĂƚĂŶ ĂŶƚŝ ŬĂƌĂƚ͕ ƉĞŵĂƐĂŶŐĂŶ ďĂŐŝĂŶ ĚĂŶ ĂŬƐĞƐŽƌŝ LJĂŶŐ ďƵŬĂŶ ďĂŐŝĂŶ ĚĂƌŝ
ƉƌŽƐĞƐƉĞŵďƵĂƚĂŶĚĂŶƵƐĂŚĂƉĞƌĂǁĂƚĂŶůĂŝŶŶLJĂ͘
- WĞŶĐƵĐŝĂŶĚĂŶ^ĂůŽŶDŽďŝů;ϰϱϮϬϮͿ
ŵĞŶĐĂŬƵƉ ƵƐĂŚĂ ƉĞŶĐƵĐŝĂŶ ŵŽďŝů ĚĂŶ ƐĂůŽŶ ŵŽďŝů ƐĞƉĞƌƚŝ ƉĞŶĐƵĐŝĂŶ ĚĂŶ ƉĞŵŽůĞƐĂŶ ĚĂŶ
ƉĞŵĂƐĂŶŐĂŶďĂŐŝĂŶĚĂŶĂŬƐĞƐŽƌŝLJĂŶŐďƵŬĂŶďĂŐŝĂŶĚĂƌŝƉƌŽƐĞƐƉĞŵďƵĂƚĂŶĚŝƐĂůŽŶŵŽďŝů͘
- ZĞƉĂƌĂƐŝĂŶWĞƌĂǁĂƚĂŶ^ĞƉĞĚĂDŽƚŽƌ;ϰϱϰϬϳͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞŵĞůŝŚĂƌĂĂŶĚĂŶƌĞƉĂƐŝƐĞƉĞĚĂŵŽƚŽƌƚĞƌŵĂƐƵŬƉĞŶĐƵĐŝĂŶƐĞƉĞĚĂŵŽƚŽƌ
ĚĂŶƵƐĂŚĂƉĞƌĂǁĂƚĂŶŶLJĂ
Đ͘Ͳ ŬƚŝǀŝƚĂƐWĞƌƵƐĂŚĂĂŶ,ŽůĚŝŶŐ;ϲϰϮϬϬͿ͘
ŵĞŶĐĂŬƵƉ ŬĞŐŝĂƚĂŶ ĚĂƌŝ ƉĞƌƵƐĂŚĂĂŶ ŚŽůĚŝŶŐ ;ŚŽůĚŝŶŐ ĐŽŵƉĂŶŝĞƐͿ LJĂŝƚƵ ƉĞƌƵƐĂŚĂĂŶ LJĂŶŐ
ŵĞŶŐƵĂƐĂŝ ĂƐĞƚ ĚĂƌŝ ƐĞŬĞůŽŵƉŽŬ ƉĞƌƵƐĂŚĂĂŶ ƐƵďƐŝĚŝĂƌŝ ĚĂŶ ŬĞŐŝĂƚĂŶ ƵƚĂŵĂŶLJĂ ĂĚĂůĂŚ
ŬĞƉĞŵŝůŝŬĂŶ ŬĞůŽŵƉŽŬ ƚĞƌƐĞďƵƚ͘ “Holding Companies” ƚŝĚĂŬ ƚĞƌůŝďĂƚ ĚĂůĂŵ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ
ƉĞƌƵƐĂŚĂĂŶƐƵďƐŝĚŝĂƌŝŶLJĂ͘<ĞŐŝĂƚĂŶŶLJĂŵĞŶĐĂŬƵƉũĂƐĂLJĂŶŐĚŝďĞƌŝŬĂŶƉĞŶĂƐĞŚĂƚ;ĐŽƵŶƐĞůůŽƌƐͿ
ĚĂŶƉĞƌƵŶĚŝŶŐ;ŶĞŐŽƚŝĂƚŽƌƐͿĚĂůĂŵŵĞƌĂŶĐĂŶŐŵĞƌŐĞƌĚĂŶĂŬƵŝƐŝƐŝƉĞƌƵƐĂŚĂĂŶ͘
- ŬƚŝǀŝƚĂƐ<ŽŶƐƵůƚĂƐŝDĂŶĂũĞŵĞŶ>ĂŝŶŶLJĂ;ϳϬϮϬϵͿ͘
ŵĞŶĐĂŬƵƉŬĞƚĞŶƚƵĂŶďĂŶƚƵĂŶŶĂƐŝŚĂƚ͕ďŝŵďŝŶŐĂŶĚĂŶŽƉĞƌĂƐŝŽŶĂůƵƐĂŚĂĚĂŶƉĞƌŵĂƐĂůĂŚĂŶ
ŽƌŐĂŶŝƐĂƐŝ ĚĂŶ ŵĂŶĂũĞŵĞŶ ůĂŝŶŶLJĂ͕ ƐĞƉĞƌƚŝ ƉĞƌĞŶĐĂŶĂĂŶ ƐƚƌĂƚĞŐŝ ĚĂŶ ŽƌŐĂŶŝƐĂƐŝ͖ ŬĞƉƵƚƵƐĂŶ
ďĞƌŬĂŝƚĂŶĚĞŶŐĂŶŬĞƵĂŶŐĂŶ͖ƚƵũƵĂŶĚĂŶŬĞďŝũĂŬƐĂŶĂĂŶƉĞŵĂƐĂƌĂŶ͖ƉĞƌĞŶĐĂŶĂĂŶ͕ƉƌĂŬƚŝŬĚĂŶ
ĚĂŶ ŬĞďŝũĂŬƐĂŶĂĂŶ ƐƵŵďĞƌ ĚĂLJĂ ŵĂŶƵƐŝĂ͖ ƉĞƌĞŶĐĂŶĂĂŶ ƉĞŶũĂĚǁĂůĂŶ ĚĂŶ ƉĞŶŐŽŶƚƌŽůĂŶ
ƉƌŽĚƵŬƐŝ͘ WĞŶLJĞĚŝĂĂŶ ũĂƐĂ ƵƐĂŚĂ ŝŶŝ ĚĂƉĂƚ ŵĞŶĐĂŬƵƉ ďĂŶƚƵĂŶ ŶĂƐŝŚĂƚ͕ ďŝŵďŝŶŐĂŶ ĚĂŶ
ŽƉĞƌĂƐŝŽŶĂů ďĞƌďĂŐĂŝ ĨƵŶŐƐŝ ŵĂŶĂũĞŵĞŶ͕ ŬŽŶƐƵůƚĂƐŝ ŵĂŶĂũĞŵĞŶ ŽůĂŚĂŐƌŽŶŽŵŝƐŝ ĚĂŶ
ĂŐƌŝĐƵůƚƵƌĂů ĞĐŽŶŽŵŝƐ ƉĂĚĂ ďŝĚĂŶŐ ƉĞƌƚĂŶŝĂŶ ĚĂŶ ƐĞũĞŶŝƐŶLJĂ͕ ƌĂŶĐĂŶŐĂŶ ĚĂƌŝ ŵĞƚŽĚĞ ĚĂŶ
ƉƌŽƐĞĚƵƌ ĂŬƵŶƚĂƐŝ͕ ƉƌŽŐƌĂŵ ĂŬƵŶƚĂƐŝ ďŝĂLJĂ͕ ƉƌŽƐĞĚƵƌ ƉĞŶŐĂǁĂƐĂŶ ĂŶŐŐĂƌĂŶ ďĞůĂŶũĂ͕
ƉĞŵďĞƌŝĂŶŶĂƐŝŚĂƚĚĂŶďĂŶƚƵĂŶƵŶƚƵŬƵƐĂŚĂĚĂŶƉĞůĂLJĂŶĂŶŵĂƐLJĂƌĂŬĂƚĚĂůĂŵƉĞƌĞŶĐĂŶĂĂŶ͕
ƉĞŶŐŽƌŐĂŶŝƐĂƐŝĂŶ͕ĞĨŝƐŝĞŶƐŝĚĂŶƉĞŶŐĂǁĂƐĂŶ͕ŝŶĨŽƌŵĂƐŝŵĂŶĂũĞŵĞŶĚĂŶůĂŝŶůĂŝŶ͘
Ě͘ Ͳ ŶŐŬƵƚĂŶĞƌŵŽƚŽƌhŶƚƵŬĂƌĂŶŐhŵƵŵ;ϰϵϰϯϭͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞŶŐĂŶŐŬƵƚĂŶďĂƌĂŶŐĚĞŶŐĂŶŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌĚĂŶĚĂƉĂƚŵĞŶŐĂŶŐŬƵƚ
ůĞďŝŚĚĂƌŝƐĂƚƵũĞŶŝƐďĂƌĂŶŐ͕ƐĞƉĞƌƚŝĂŶŐŬƵƚĂŶĚĞŶŐĂŶƚƌƵŬ͕ƉŝĐŬƵƉ͕ĚĂŶŬŽŶƚĂŝŶĞƌ͘
- ŶŐŬƵƚĂŶĞƌŵŽƚŽƌhŶƚƵŬĂƌĂŶŐ<ŚƵƐƵƐ;ϰϵϰϯϮͿ
ŵĞŶĐĂŬƵƉ ƵƐĂŚĂ ƉĞŶŐĂŶŐŬƵƚĂŶ ďĂƌĂŶŐ ĚĞŶŐĂŶ ŵĞŶŐŐƵŶĂŬĂŶ ŬĞŶĚĂƌĂĂŶ ďĞƌŵŽƚŽƌ ƵŶƚƵŬ
ďĂƌĂŶŐ LJĂŶŐ ƐĞĐĂƌĂ ŬŚƵƐƵƐ ŵĞŶŐĂŶŐŬƵƚ ƐĂƚƵ ũĞŶŝƐ ďĂƌĂŶŐ ƐĞƉĞƌƚŝ ĂŶŐŬƵƚĂŶ ďĂŚĂŶ ďĂŬĂƌ
ŵŝŶLJĂŬ;DͿ͕ĂŶŐŬƵƚĂŶďĂƌĂŶŐďĞƌďĂŚĂLJĂ͕ĚĂŶĂŶŐŬƵƚĂŶďĂƌĂŶŐĂůĂƚͲĂůĂƚďĞƌĂƚ͘
- ŶŐŬƵƚĂŶ^ĞǁĂ;ϰϵϰϮϮͿ͘
ŵĞŶĐĂŬƵƉƵƐĂŚĂƉĞŶŐĂŶŐŬƵƚĂŶƉĞŶƵŵƉĂŶŐĚĞŶŐĂŶŵĞŶŐŐƵŶĂŬĂŶŵŽďŝůƉĞŶƵŵƉĂŶŐƵŵƵŵ
LJĂŶŐŵĞůĂLJĂŶŝĂŶŐŬƵƚĂŶĚĂƌŝƉŝŶƚƵŬĞƉŝŶƚƵ ĚĂůĂŵǁŝůĂLJĂŚŽƉĞƌĂƐŝLJĂŶŐƚŝĚĂŬĚŝďĂƚĂƐŝŽůĞŚ
ǁŝůĂLJĂŚĂĚŵŝŶŝƐƚƌĂƚŝĨĚĂŶƚĂƌŝĨďĞƌĚĂƐĂƌŬĂŶŬĞƐĞƉĂŬĂƚĂŶĂŶƚĂƌĂƉĞŶŐŐƵŶĂĚĞŶŐĂŶƉĞŶLJĞĚŝĂ
ĂŶŐŬƵƚĂŶ͘ dĞƌŵĂƐƵŬ ůĂLJĂŶĂŶ ĐĂƌƚĞƌ͕ ĞŬƐŬƵƌƐŝ͕ ĚĂŶ ĂŶŐŬƵƚĂŶ ĐĂƌƚĞƌ ŵƵƐŝŵĂŶ ůĂŝŶŶLJĂ ƐĞƌƚĂ
ƉĞŶLJĞǁĂĂŶŵŽďŝůĂƚĂƵĂŶŐŬƵƚĂŶƉƌŝďĂĚŝůĂŝŶŶLJĂĚĞŶŐĂŶƐŽƉŝƌ͘<ĞůŽŵƉŽŬŝŶŝũƵŐĂŵĞŶĐĂŬƵƉ
ĂŶŐŬƵƚĂŶƐĞǁĂďĂũĂũ͕ŬĂŶĐŝů͕ďĞŶƚŽƌĚĂŶůĂŝŶůĂŝŶ͘
Ğ͘Ͳ WĞŶĚŝĚŝŬĂŶĂŚĂƐĂ^ǁĂƐƚĂ;ϴϱϰϵϯͿ͘
ŵĞŶĐĂŬƵƉ ŬĞŐŝĂƚĂŶ ƉĞŶĚŝĚŝŬĂŶ LJĂŶŐ ďĞƌƐŝĨĂƚ ŬƵƌƐƵƐ ĚĞŶŐĂŶ ƚƵũƵĂŶ ƵŶƚƵŬ ŵĞŶĂŵďĂŚ
ͬŬĞĂŚůŝĂŶĚĂůĂŵďŝĚĂŶŐďĂŚĂƐĂLJĂŶŐĚŝƐĞůĞŶŐŐĂƌĂŬĂŶŽůĞŚƐǁĂƐƚĂ͘<ĞŐŝĂƚĂŶLJĂŶŐŵĂƐƵŬĚĂůĂŵ
ŬĞůŽŵƉŽŬŝŶŝĂĚĂůĂŚďĂŚĂƐƌĂď͕ĞůĂŶĚĂ͕/ŶĚŽŶĞƐŝĂ͕/ŶŐŐƌŝƐ͕/ƚĂůŝĂ͕:ĂǁĂ͕:ĞƉĂŶŐ͕:ĞƌŵĂŶ͕
<ŽƌĞĂ͕DĂŶĚĂƌŝŶ͕WĞƌĂŶĐŝƐ͕ZƵƐŝĂ͕^ĂŬƵƌĂ͕^ƉĂŶLJŽůĚĂŶĂŚĂƐĂůĂŝŶŶLJĂ͕ƚĞƌŵĂƐƵŬũƵŐĂŬƵƌƐƵƐ
dK &>͕dK /͕d >d^ĚĂŶƉĞŶĞƌũĞŵĂŚ͘
ŝŝ͘ <ĞŐŝĂƚĂŶhƐĂŚĂWĞŶƵŶũĂŶŐ
DĞŶũĂůĂŶŬĂŶƵƐĂŚĂͲƵƐĂŚĂůĂŝŶLJĂŶŐ ďĞƌŬĂŝƚĂŶĚĞŶŐĂŶďŝĚĂŶŐƵƐĂŚĂƚĞƌƐĞďƵƚĚŝĂƚĂƐƐĞƐƵĂŝĚĞŶŐĂŶ
ƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͘
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WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞůĂŬƵŬĂŶ ƉĞŶLJĞƐƵĂŝĂŶ ƚĞƌŚĂĚĂƉ ŵĂŬƐƵĚ ĚĂŶ ƚƵũƵĂŶ ƚĞƌƐĞďƵƚ ĚĞŶŐĂŶ <ůĂƐŝĨŝŬĂƐŝ
ĂŬƵ >ĂƉĂŶŐĂŶ hƐĂŚĂ /ŶĚŽŶĞƐŝĂ ;<>/Ϳ ϮϬϮϬ͕ ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌŵĂŬƚƵď ĚĂůĂŵ WĞƌŝnjŝŶĂŶ ĞƌƵƐĂŚĂ
ĞƌďĂƐŝƐZĞƐŝŬŽEŽŵŽƌ/ŶĚƵŬWĞƌƐĞƌŽĂŶ͗ϬϮϮϬϭϬϱϲϲϬϭϱϱƚĂŶŐŐĂůϱ:ƵŶŝϮϬϮϬ͕ƉĞƌƵďĂŚĂŶŬĞͲϭƚĂŶŐŐĂů
ϯϬŐƵƐƚƵƐϮϬϮϮ͕<ŽĚĞ<>/͗ϲϰϮϬϬ͕ŬƚŝǀŝƚĂƐWĞƌƵƐĂŚĂĂŶ,ŽůĚŝŶŐ͘
<ĞŐŝĂƚĂŶ hƐĂŚĂ Wd /ŶĚŽŵŽďŝů DƵůƚŝ :ĂƐĂ dďŬ ďĞƌĚĂƐĂƌŬĂŶ ŶŐŐĂƌĂŶ ĂƐĂƌ ĚĂŶͬĂƚĂƵ <>/ ĂĚĂůĂŚ
ŬƚŝǀŝƚĂƐ WĞƌƵƐĂŚĂĂŶ ,ŽůĚŝŶŐ͕ ŶĂŵƵŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ LJĂŶŐ ƚĞůĂŚ ďĞŶĂƌͲďĞŶĂƌ ĚŝũĂůĂŶŬĂŶ ƐĂĂƚ ŝŶŝ
ĂĚĂůĂŚŬƚŝǀŝƚĂƐWĞƌƵƐĂŚĂĂŶ,ŽůĚŝŶŐ͘
͘ ^ƵƐƵŶĂŶŝƌĞŬƐŝĚĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐ
WĂĚĂƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶ͕ƐƵƐƵŶĂŶĂŶŐŐŽƚĂŝƌĞŬƐŝĚĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐLJĂŶŐƚĞƌĂŬŚŝƌĂĚĂůĂŚ
ƐĞďĂŐĂŝŵĂŶĂƚĞƌŵĂŬƚƵďĚĂůĂŵŬƚĂWĞƌŶLJĂƚĂĂŶ<ĞƉƵƚƵƐĂŶZĂƉĂƚWd/ŶĚŽŵŽďŝůDƵůƚŝ:ĂƐĂdďŬEŽ͘Ϯϲ͕ƚĂŶŐŐĂů
ϭϱŐƵƐƚƵƐϮϬϮϮLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ/ƌ͘EĂŶĞƚƚĞĂŚLJĂŶŝĞ,ĂŶĚĂƌŝĚŝtĂƌƐŝƚŽ͕^,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂĚĂŶ
ƚĞůĂŚ͗ ;ŝͿ ŵĞŶĚĂƉĂƚŬĂŶ ƉĞƌƐĞƚƵũƵĂŶ ĚĂƌŝ DĞŶƚĞƌŝ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ
ďĞƌĚĂƐĂƌŬĂŶ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶ EŽ͘,hͲϬϬϱϴϵϱϮ͘ ,͘Ϭϭ͘ϬϮ͘dĂŚƵŶ ϮϬϮϮ dĂŶŐŐĂů ϭϵ ŐƵƐƚƵƐ ϮϬϮϮ͕ ;ŝŝͿ
ĚŝďĞƌŝƚĂŚƵŬĂŶŬĞƉĂĚĂĚĂŶĚŝƚĞƌŝŵĂƐĞƌƚĂĚŝĐĂƚĂƚĚĂůĂŵĂƚĂďĂƐĞ^ŝƐŵŝŶďĂŬƵŵ<ĞŵĞŶƚĞƌŝĂŶ,ƵŬƵŵĚĂŶ,ĂŬ
ƐĂƐŝDĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂƐĞďĂŐĂŝŵĂŶĂƚĞƌŶLJĂƚĂĚĂƌŝ^ƵƌĂƚWĞŶĞƌŝŵĂĂŶWĞŵďĞƌŝƚĂŚƵĂŶWĞƌƵďĂŚĂŶĂƚĂ
WĞƌƐĞƌŽĂŶ EŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϬϰϱϱϬϰ ƚĂŶŐŐĂů ϭϵ ŐƵƐƚƵƐ ϮϬϮϮ͕ ;ŝŝŝͿ ĚŝĚĂĨƚĂƌŬĂŶ ĚĂůĂŵ ĂĨƚĂƌ WĞƌƐĞƌŽĂŶ
EŽ͘,hͲϬϭϲϮϱϲϲ͘,͘Ϭϭ͘ϭϭ͘dĂŚƵŶϮϬϮϮƉĂĚĂƚĂŶŐŐĂůϭϵŐƵƐƚƵƐϮϬϮϮ͘ ũƵŶƚŽŬƚĂWĞƌŶLJĂƚĂĂŶ<ĞƉƵƚƵƐĂŶZĂƉĂƚ
/D:EŽ͘Ϭϱ͕ƚĂŶŐŐĂůϬϮ:ƵůŝϮϬϮϰLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶ/ƌ͘EĂŶĞƚƚĞĂŚLJĂŶŝĞ,ĂŶĚĂƌŝĚŝtĂƌƐŝƚŽ͕^,͕͘EŽƚĂƌŝƐ
Ěŝ:ĂŬĂƌƚĂĚĂŶƚĞůĂŚ͗;ŝͿĚŝďĞƌŝƚĂŚƵŬĂŶŬĞƉĂĚĂDĞŶƚĞƌŝ,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂƐĞďĂŐĂŝŵĂŶĂƚĞƌŶLJĂƚĂ
ĚĂůĂŵ^ƵƌĂƚWĞŶĞƌŝŵĂĂŶWĞŵďĞƌŝƚĂŚƵĂŶWĞƌƵďĂŚĂŶĂƚĂWĞƌƐĞƌŽĂŶEŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϮϮϭϱϮϲƚĂŶŐŐĂůϬϯ:Ƶůŝ
ϮϬϮϰĚĂŶ;ŝŝͿĚŝĚĂĨƚĂƌŬĂŶĚĂůĂŵĂĨƚĂƌWĞƌƐĞƌŽĂŶEŽ͘,hͲϬϭϯϮϳϰϴ͘,͘Ϭϭ͘ϭϭ͘dĂŚƵŶϮϬϮϰƚĂŶŐŐĂůϬϯ:ƵůŝϮϬϮϰ͘
ĞŶŐĂŶĚĞŵŝŬŝĂŶ͕ƉĂĚĂdĂŶŐŐĂůŬŚŝƌhũŝdƵŶƚĂƐ͕ƐƵƐƵŶĂŶĂŶŐŐŽƚĂŝƌĞŬƐŝĚĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐLJĂŶŐƐĞĚĂŶŐ
ŵĞŶũĂďĂƚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ŝƌĞŬƚƵƌhƚĂŵĂ ͗ :ƵƐĂŬ<ĞƌƚŽǁŝĚũŽũŽ
tĂŬŝůŝƌĞŬƚƵƌhƚĂŵĂ ͗ 'ƵŶĂǁĂŶ;'ƵŶĂǁĂŶ ĨĨĞŶĚŝͿ
ŝƌĞŬƚƵƌ ͗ ŶĚƌĞǁEĂƐƵƌŝ
ŝƌĞŬƚƵƌdŝĚĂŬdĞƌĂĨŝůŝĂƐŝ ͗ dŽƐŚŝƌŽDŝnjƵƚĂŶŝ
<ŽŵŝƐĂƌŝƐhƚĂŵĂ ͗ ĂŵďĂŶŐWƌŝũŽŶŽ^W;ĂŵďĂŶŐWƌŝũŽŶŽ^ƵƐĂŶƚŽWƵƚƌŽͿ
tĂŬŝů<ŽŵŝƐĂƌŝƐhƚĂŵĂ ͗ tŝůůŝĂŶƚŽ,ƵƐĂĚĂ
<ŽŵŝƐĂƌŝƐ/ŶĚĞƉĞŶĚĞŶ ͗ ŐƵƐ,ĂƐĂŶWƵƌĂŶŐŐĂǁŝũĂLJĂ
WĂƌĂĂŶŐŐŽƚĂŝƌĞŬƐŝĚĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐ/D:ĚŝĂƚĂƐƚĞůĂŚĚŝĂŶŐŬĂƚƐĞĐĂƌĂƐĂŚƐĞƐƵĂŝĚĞŶŐĂŶŶŐŐĂƌĂŶĂƐĂƌ
WĞƌƐĞƌŽĂŶ ĚĂŶ ƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐ ďĞƌůĂŬƵ͕ ĚĂŶŵĂƐĂ ũĂďĂƚĂŶ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ ĚĂŶ ŝƌĞŬƐŝ
WĞƌƐĞƌŽĂŶƐĂŵƉĂŝĚĞŶŐĂŶƉĞŶƵƚƵƉĂŶZhW^dĂŚƵŶĂŶƚĂŚƵŶďƵŬƵϮϬϮϲLJĂŶŐĚŝƐĞůĞŶŐŐĂƌĂŬĂŶƚĂŚƵŶϮϬϮϳ͘
ϭϯ͘ W Z<ZͲW Z<ZzE'/,W/W Z^ ZKEEzE' Z,hhE'E E'EW Z^ ZKE
^ĂŵƉĂŝ ĚĞŶŐĂŶ WƌŽƐƉĞŬƚƵƐŝŶŝ ĚŝƚĞƌďŝƚŬĂŶ ĚĂŶ ĚŝĚƵŬƵŶŐ ŽůĞŚ ^ƵƌĂƚ WĞƌŶLJĂƚĂĂŶ ƚĂŶŐŐĂů ϭϳ :ƵŶŝ ϮϬϮϱ LJĂŶŐ
ĚŝƚĂŶĚĂ ƚĂŶŐĂŶŝ WĞƌƐĞƌŽĂŶ͕ ŵĂƐŝŶŐͲŵĂƐŝŶŐ WƌĞƐŝĚĞŶ ŝƌĞŬƚƵƌ͕ ŝƌĞŬƚƵƌ WĞƌƐĞŽĂŶ͕ ĚĂŶ ĞǁĂŶ <ŽŵŝƐĂƌŝƐ
WĞƌƐĞƌŽĂŶ ďĂŚǁĂ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ͗ ;ĂͿ ƐƵĂƚƵ ƉĞƌŬĂƌĂ ƉĞƌĚĂƚĂ ŵĂƵƉƵŶ ƉŝĚĂŶĂ LJĂŶŐ ďĞƌůĂŶŐƐƵŶŐ Ěŝ ŚĂĚĂƉĂŶ
WĞŶŐĂĚŝůĂŶEĞŐĞƌŝ͕WĞŶŐĂĚŝůĂŶdŝŶŐŐŝĚĂŶDĂŚŬĂŵĂŚŐƵŶŐ͖;ďͿƉĞƌƐĞůŝƐŝŚĂŶLJĂŶŐĚŝƐĞůĞƐĂŝŬĂŶŵĞůĂůƵŝĂĚĂŶ
ƌďŝƚƌĂƐŝ EĂƐŝŽŶĂů /ŶĚŽŶĞƐŝĂ͖ ;ĐͿ ƉĞŶŐĂũƵĂŶ WĂŝůŝƚ ĂƚĂƵ WĞŶƵŶĚĂĂŶ <ĞǁĂũŝďĂŶ WĞŵďĂLJĂƌĂŶ hƚĂŶŐ ŵĞůĂůƵŝ
WĞŶŐĂĚŝůĂŶEŝĂŐĂ͖;ĚͿƉĞƌŬĂƌĂWĞƌƐĞůŝƐŝŚĂŶ,ƵďƵŶŐĂŶ/ŶĚƵƐƚƌŝĂůŵĂƵƉƵŶƉĞƌŬĂƌĂWĞŵƵƚƵƐĂŶ,ƵďƵŶŐĂŶ<ĞƌũĂ
ŵĞůĂůƵŝWĞŶŐĂĚŝůĂŶ,ƵďƵŶŐĂŶ/ŶĚƵƐƚƌŝĂů͖;ĞͿƐĞŶŐŬĞƚĂƚĂƚĂƵƐĂŚĂŶĞŐĂƌĂŵĞůĂůƵŝWĞŶŐĂĚŝůĂŶdĂƚĂhƐĂŚĂEĞŐĂƌĂ͖
;ĨͿ ƐĞŶŐŬĞƚĂ ĂƚĂƵ ƉĞƌŬĂƌĂ ƉĞƌƉĂũĂŬĂŶ ƉĂĚĂ WĞŶŐĂĚŝůĂŶ WĂũĂŬ͖ ;ŐͿ ƐĞŶŐŬĞƚĂ Ěŝ ŚĂĚĂƉĂŶ ĂĚĂŶ WĞŶLJĞůĞƐĂŝĂŶ
^ĞŶŐŬĞƚĂ <ŽŶƐƵŵĞŶ͖ ĚĂŶ ;ŚͿ ƐĞŶŐŬĞƚĂ ƉĞƌƐĂŝŶŐĂŶ ƵƐĂŚĂ Ěŝ ďĂĚĂŶ ƉĞƌĂĚŝůĂŶ Ěŝ /ŶĚŽŶĞƐŝĂ͕ LJĂŶŐ ŵĞůŝďĂƚŬĂŶ
WĞƌƐĞƌŽĂŶŵĂƵƉƵŶĂŶŐŐŽƚĂŝƌĞŬƐŝĚĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐWĞƌƐĞƌŽĂŶƐĞƌƚĂůŽŬĂƐŝŬĞŐŝĂƚĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶ͘
>ĞďŝŚůĂŶũƵƚ͕WĞƌƐĞƌŽĂŶƚŝĚĂŬƐĞĚĂŶŐƚĞƌůŝďĂƚƐĞŶŐŬĞƚĂĂƚĂƵƉĞƌƐĞůŝƐŝŚĂŶŚƵŬƵŵĚŝůƵĂƌďĂĚĂŶƉĞƌĂĚŝůĂŶƚĞƌƐĞďƵƚ
Ěŝ ĂƚĂƐ͕ ďĂŝŬ ƐĞĐĂƌĂ ƉĞƌĚĂƚĂ͕ ƉŝĚĂŶĂ͕ ƚĂƚĂ ƵƐĂŚĂ ŶĞŐĂƌĂ͕ ŬĞƉĂŝůŝƚĂŶ͕ ĂƌďŝƚƌĂƐĞ͕ ƉĞƌƐĂŝŶŐĂŶ ƵƐĂŚĂ͕ ƉĞƌƉĂũĂŬĂŶ
ŵĂƵƉƵŶƉĞƌďƵƌƵŚĂŶ͕ƚĞƌŵĂƐƵŬƐŽŵĂƐŝĚĂƌŝƉŝŚĂŬŵĂŶĂƉƵŶ͘
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ϭϰ͘ ^ dd dW
dĂŶĂŚ ĚĂŶ ďĂŶŐƵŶĂŶ ƚĞƌƐĞďƵƚ ĚĂůĂŵ ƚĂďĞů ĚŝďĂǁĂŚ ŝŶŝ ĚŝĨƵŶŐƐŝŬĂŶͬĚŝƉĞƌŐƵŶĂŬĂŶ WĞƌƐĞƌŽĂŶ ĚĂůĂŵ ƌĂŶŐŬĂ
ŵĞŶĚƵŬƵŶŐ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ WĞƌƐĞƌŽĂŶ͕ ĚŝĂŶƚĂƌĂŶLJĂ ƵŶƚƵŬ <ĂŶƚŽƌ ĂďĂŶŐ WĞƌƐĞƌŽĂŶ͕ 'ƵĚĂŶŐ WĞŶLJŝŵƉĂŶĂŶ
ŽŬƵŵĞŶͬƌƐŝƉWĞƌƐĞƌŽĂŶ͕dĞŵƉĂƚWĞŶĂŵƉƵŶŐĂŶͬWĞŶLJŝŵƉĂŶĂŶhŶŝƚ<ĞŶĚĂƌĂĂŶĚĂƌŝdĂƌŝŬĂŶ<ŽŶƐƵŵĞŶ͕ĚĂŶ
ŬĞƉĞŶƚŝŶŐĂŶůĂŝŶŶLJĂ͘
WĂĚĂƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶWĞƌƐĞƌŽĂŶŵĞŵŝůŝŬŝƐĞďĂŶLJĂŬϮϲ;ĚƵĂƉƵůƵŚĞŶĂŵͿďŝĚĂŶŐƚĂŶĂŚĚĂŶ
ďĂŶŐƵŶĂŶ͕ƚĞƌƐĞďĂƌĚŝďĞďĞƌĂƉĂƉƌŽƉŝŶƐŝĚŝǁŝůĂLJĂŚ</:ĂŬĂƌƚĂ͕ĂŶƚĞŶ͕:ĂǁĂĂƌĂƚ͕:ĂǁĂdĞŶŐĂŚ͕Ăůŝ͕^ƵůĂǁĞƐŝ
ĚĂŶ^ƵŵĂƚĞƌĂ͕ƐĞďĂŐĂŝŵĂŶĂƚĞƌƐĞďƵƚĚĂůĂŵƚĂďĞůďĞƌŝŬƵƚ͗
EŽ͘^ƵƌĂƚ dĂŶŐŐĂů EŝůĂŝ
EŽ͘ dĂŶŐŐĂů >ŽŬĂƐŝ^,' >ƵĂƐ
EŽ hŬƵƌͬ'Ăŵď ĞƌĂŬŚŝƌŶLJĂ &ƵŶŐƐŝ dĂŚƵŶƵŬƵ
^,' WĞŶĞƌďŝƚĂŶ ĚĂŶ&ƵŶŐƐŝ ;DϮͿ
Ăƌ^ŝƚƵĂƐŝ ,ĂŬ ĞƐĞŵďĞƌϮϬϮϰ
ϭ͘ ŝĚĂŶŐdĂŶĂŚ
ƚĞƌůĞƚĂŬĚŝ
<ĞůƵƌĂŚĂŶ
ŝĚĂƌĂŝŶĂ͕ 'ƵĚĂŶŐ
ϱϴϵϴͬϭϵϵϯ
ϮϰͲϬϭͲϮϬϯϰ <ĞĐĂŵĂƚĂŶ WĞŶLJŝŵƉĂ
ϵϱϬ ϭϴͲϭϬͲϭϵϵϰ ;ϭϰͲϭϮͲ ϯϵϭ
:ĂƚŝŶĞŐĂƌĂ͕ ŶĂŶ ϭϯ͘ϴϴϲ͘ϴϳϭ͘Ϯϵϯ
ϭϵϵϯͿ
<ŽƚĂŵĂĚLJĂ ŽŬƵŵĞŶ
:ĂŬĂƌƚĂdŝŵƵƌ͕ ͬƌƐŝƉ
WƌŽƉŝŶƐŝ</
:ĂŬĂƌƚĂ
Ϯ͘ ŝĚĂŶŐdĂŶĂŚ
ƚĞƌůĞƚĂŬĚŝ
<ĞůƵƌĂŚĂŶ <ĂŶƚŽƌ
ϳϴϯϮͬϭϵϵϱ
ŝŬŽŬŽů͕ ĂďĂŶŐ ϭ͘ϰϴϱ͘Ϯϯϭ͘Ϭϵϱ
ϭϳϴϱ ϮϴͲϭϭͲϭϵϵϱ ;ϮϴͲϭϭͲ ϭϵͲϬϵͲϮϬϯϱ ϴϱ
<ŽƚĂŵĂĚLJĂ WĞƌƐĞƌŽĂŶ
ϭϵϵϱͿ
dĂŶŐĞƌĂŶŐ͕
WƌŽƉŝŶƐŝ
ĂŶƚĞŶ͘
ϯ͘ ŝĚĂŶŐdĂŶĂŚ
ƚĞƌůĞƚĂŬĚŝ
ĞƐĂŝŬĂƌĂŶŐ
<ŽƚĂ͕
ϬϬϭϴϵͬŝŬĂƌ
<ĞĐĂŵĂƚĂŶ <ĂŶƚŽƌ
ĂŶŐ
ϰϵϱ ϮϮͲϬϭͲϮϬϭϴ ϭϭͲϭϮͲϮϬϯϳ ŝŬĂƌĂŶŐ ϲϯ ĂďĂŶŐ ϭ͘Ϯϲϲ͘ϱϬϬ͘ϬϬϬ
<ŽƚĂͬϮϬϭϳ
hƚĂƌĂ͕ WĞƌƐĞƌŽĂŶ
;ϭϵͲϭϮͲϮϬϭϳ
<ĂďƵƉĂƚĞŶ
ĞŬĂƐŝ͕
WƌŽƉŝŶƐŝ:ĂǁĂ
ĂƌĂƚ͘
ϰ͘ ŝĚĂŶŐdĂŶĂŚ
ƚĞƌůĞƚĂŬĚŝ
<ĞůƵƌĂŚĂŶ
dĞŐĂůƐĂƌŝ͕ <ĂŶƚŽƌ
ϰϯͬdĞŐĂůƐĂƌŝ
<ĞĐĂŵĂƚĂŶ ĂďĂŶŐ ϰϮ͘ϴϱϰ͘Ϯϲϯ͘ϯϭϴ
Ϯϯϯ ϭϯͲϬϯͲϭϵϵϵ ͬϭϵϵϵ;ϬϰͲ ϬϳͲϬϴͲϮϬϯϯ ϲϰϰ
dĞŐĂůƐĂƌŝ͕ WĞƌƐĞƌŽĂŶ
ϬϯͲϭϵϵϵͿ
<ŽƚĂŵĂĚLJĂ
^ƵƌĂďĂLJĂ͕
WƌŽƉŝŶƐŝ:ĂǁĂ
dŝŵƵƌ͘
ϱ͘ ŝĚĂŶŐdĂŶĂŚ
ƚĞƌůĞƚĂŬĚŝ
ϵͬDŝƌŽƚŽͬϮϬ <ĞůƵƌĂŚĂŶ
Ϭϱ DŝƌŽƚŽ͕ <ĂŶƚŽƌ ϳ͘ϯϲϴ͘ϰϱϴ͘Ϯϰϰ
ϳϰϯ ϭϱͲϬϲͲϮϬϬϱ ϭϬͲϬϲͲϮϬϯϱ ϮϮϱ
;ϭϰͲϬϲͲ <ĞĐĂŵĂƚĂŶ ĂďĂŶŐ
ϮϬϬϱͿ ^ĞŵĂƌĂŶŐ WĞƌƐĞƌŽĂŶ
dĞŶŐĂŚ͕<ŽƚĂ
^ĞŵĂƌĂŶŐ͕
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EŽ͘^ƵƌĂƚ dĂŶŐŐĂů EŝůĂŝ
EŽ͘ dĂŶŐŐĂů >ŽŬĂƐŝ^,' >ƵĂƐ
EŽ hŬƵƌͬ'Ăŵď ĞƌĂŬŚŝƌŶLJĂ &ƵŶŐƐŝ dĂŚƵŶƵŬƵ
^,' WĞŶĞƌďŝƚĂŶ ĚĂŶ&ƵŶŐƐŝ ;DϮͿ
Ăƌ^ŝƚƵĂƐŝ ,ĂŬ ĞƐĞŵďĞƌϮϬϮϰ
WƌŽƉŝŶƐŝ:ĂǁĂ
dĞŶŐĂŚ͘
ϲ͘ ŝĚĂŶŐdĂŶĂŚ
ƚĞƌůĞƚĂŬĚŝ
<ĞůƵƌĂŚĂŶ
^ĂŵŽũĂ͕
ϬϬϬϳϯͬ^Ăŵ
<ĞĐĂŵĂƚĂŶ <ĂŶƚŽƌ
Ϯϰ ϮϴͲϬϳͲϮϬϬϲ ŽũĂͬϮϬϬϲ ϮϰͲϬϵͲϮϬϮϳ ϴϰϱ
ĂƚƵŶƵŶŐŐĂů͕ ĂďĂŶŐ ϭϳ͘ϯϭϮ͘ϯϯϳ͘Ϭϴϭ
;ϱͲϬϳͲϮϬϬϲͿ
<ŽƚĂŵĂĚLJĂ WĞƌƐĞƌŽĂŶ
ĂŶĚƵŶŐ͕
WƌŽƉŝŶƐŝ:ĂǁĂ
ĂƌĂƚ͘
ϳ͘ dĂŶĂŚ
ƚĞƌůĞƚĂŬĚŝ
<ĞůƵƌĂŚĂŶ
ϬϬϮϵϵͬ^/K ^ŝĚŽŵƵůLJŽ ϭ͘ϲϳϴ͘ϭϯϰ͘ϴϵϯ
Dh>zKd/DhZͬ dŝŵƵƌ͕
ϲϮϯ ϭϲͲϬϮͲϮϬϭϭ ϮϬϭϭ ϬϱͲϭϮͲϮϬϯϭ <ĞĐĂŵĂƚĂŶ ϭϴϲ <ĂŶƚŽƌ
;ϮϰͲϬϭͲ DĂƌƉŽLJĂŶ ĂďĂŶŐ
ϮϬϭϭͿ ĂŵĂŝ͕ WĞƌƐĞƌŽĂŶ
<ŽƚĂŵĂĚLJĂ
WĞŬĂŶďĂƌƵ͕
WƌŽƉŝŶƐŝZŝĂƵ
ϴ͘ ŝĚĂŶŐdĂŶĂŚ
ƚĞƌůĞƚĂŬĚŝ
<ĞůƵƌĂŚĂŶ
<ĂLJƵŬŝŶŐŝŶ ϭ͘ϲϳϬ͘Ϯϵϯ͘ϱϰϯ
:ĂLJĂ͕
ϲϱϱϬͬϭϵϵϳ
<ĞĐĂŵĂƚĂŶ <ĂŶƚŽƌ
ϱϵϬϳ ϮϲͲϭϮͲϭϵϵϳ ;ϮϲͲϬϱͲ ϳϱ
ϭϴͲϭϮͲϮϬϯϳ ĞŬĂƐŝ ĂďĂŶŐ
ϭϵϵϳͿ
^ĞůĂƚĂŶ͕ WĞƌƐĞƌŽĂŶ
<ŽƚĂŵĂĚLJĂ
ĞŬĂƐŝ͕
WƌŽƉŝŶƐŝ:ĂǁĂ
ĂƌĂƚ
ϵ͘ ŝĚĂŶŐdĂŶĂŚ
ƚĞƌůĞƚĂŬĚŝ
<ĞůƵƌĂŚĂŶ
dĂŵĂŶĂůĚŝ͕ <ĂŶƚŽƌ
ϬϰϬͬdĂŵĂŶ <ĞĐĂŵĂƚĂŶ ĂďĂŶŐ
ϭϮϯϮ ϬϵͲϬϵͲϮϬϬϲ ĂůĚŝͬϬϵͲϬϵͲ ϭϵͲϬϯͲϮϬϯϭ EŽŶŐƐĂ͕ ϭϬϰ WĞƌƐĞƌŽĂŶ Ϯ͘ϵϬϬ͘ϳϳϱ͘ϲϮϮ
ϮϬϬϲ <ŽƚĂŵĂĚLJĂ
ĂƚĂŵ͕
WƌŽƉŝŶƐŝ
<ĞƉƵůĂƵĂŶ
ZŝĂƵ
ϭϬ͘ ŝĚĂŶŐdĂŶĂŚ
ƚĞƌůĞƚĂŬĚŝ
ϭϬϴͬĂƌĂŶĂ
<ĞůƵƌĂŚĂŶ <ĂŶƚŽƌ
ŶŐƐŝĂŶŐͬϮϬϭ
ĂƌĂŶĂŶŐƐŝĂŶ ĂďĂŶŐ ϴ͘ϯϱϭ͘ϭϯϵ͘ϬϬϵ
ϭϴͲϭϮͲϮϬϭϰ ϰ ϬϴͲϭϮͲϮϬϰϯ ϭϵϲ
ϳϵϭ Ő͕<ĞĐĂŵĂƚĂŶ WĞƌƐĞƌŽĂŶ
;ϬϴͲϭϮͲ
ŽŐŽƌdŝŵƵƌ͕
ϮϬϭϰͿ
<ŽƚĂŵĂĚLJĂ
ŽŐŽƌ͕
ϭϭ͘ ŝĚĂŶŐdĂŶĂŚ
ϬϬϲϴϯͬĂƵŚ ƚĞƌůĞƚĂŬĚŝ
WƵƌŝ ĞƐĂĂƵŚ
ϭϮϳ ϬϲͲϭϮͲϮϬϭϮ ϬϳͲϬϯͲϮϬϰϰ ϯϬϬ
<ĂũĂͬϮϬϭϮ WƵƌŝ<ĂũĂ͕ <ĂŶƚŽƌ ϳ͘ϯϳϴ͘ϰϮϮ͘ϭϮϵ
;ϰͲϬϮͲϮϬϭϰͿ <ĞĐĂŵĂƚĂŶ ĂďĂŶŐ
ĞŶƉĂƐĂƌ WĞƌƐĞƌŽĂŶ
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EŽ͘^ƵƌĂƚ dĂŶŐŐĂů EŝůĂŝ
EŽ͘ dĂŶŐŐĂů >ŽŬĂƐŝ^,' >ƵĂƐ
EŽ hŬƵƌͬ'Ăŵď ĞƌĂŬŚŝƌŶLJĂ &ƵŶŐƐŝ dĂŚƵŶƵŬƵ
^,' WĞŶĞƌďŝƚĂŶ ĚĂŶ&ƵŶŐƐŝ ;DϮͿ
Ăƌ^ŝƚƵĂƐŝ ,ĂŬ ĞƐĞŵďĞƌϮϬϮϰ
hƚĂƌĂ͕<ŽƚĂ
ĞŶƉĂƐĂƌ͕
WƌŽƉŝŶƐŝĂůŝ
ϭϮ͘ ϬϮϴϮϱͬ<ĂƐƐŝ ŝĚĂŶŐdĂŶĂŚ
Ͳ<ĂƐƐŝͬϮϬϭϯ ϭϯͲϬϮͲ ƚĞƌůĞƚĂŬ
Ϯϭϭϵϱ ϭϲͲϬϵͲϮϬϭϯ ϭϭϱ
;ϭϵͲϬϴͲ ϮϬϰϱ ŝĞƐĂ<ĂƐƐŝͲ
ϮϬϭϯͿ <ĂƐƐŝ͕ <ĂŶƚŽƌ
ϭϯ͘ <ĞĐĂŵĂƚĂŶ ĂďĂŶŐ ϳ͘ϯϲϬ͘ϭϯϭ͘Ϯϰϴ
ϬϮϴϮϲͬ<ĂƐƐŝ ZĂƉƉŽĐŝŶŝ͕ WĞƌƐĞƌŽĂŶ
Ͳ<ĂƐƐŝͬϮϬϭϯ ϭϯͲϬϮͲ <ŽƚĂDĂŬĂƐĂƌ͕
Ϯϭϭϵϰ ϭϲͲϬϵͲϮϬϭϯ ϭϮϬ
;ϭϲͲϬϵͲ ϮϬϰϱ WƌŽƉŝŶƐŝ
ϮϬϭϯͿ ^ƵůĂǁĞƐŝ
^ĞůĂƚĂŶ
ϭϰ͘ ŝĚĂŶŐdĂŶĂŚ dĞŵƉĂƚ
ƚĞƌůĞƚĂŬ WĞŶLJŝŵƉĂ
ŝĞƐĂ ŶĂŶhŶŝƚ
ϬϬϳϬϮͬ'ĞďĂ 'ĞďĂŶŐ/ůŝƌ͕ <ĞŶĚĂƌĂĂ
ŶŐ/ůŝƌͬϮϬϭϴ <ĞĐĂŵĂƚĂŶ ϭϯ͘ϴϬ ŶdĂƌŝŬĂŶ ϭϲ͘ϴϲϯ͘ϵϮϵ͘ϲϲϵ
ϰϮϴ ϭϰͲϬϵͲϮϬϭϴ ϯϬͲϬϴͲϮϬϰϴ
;ϬϱͲϬϵͲ 'ĞďĂŶŐ͕ ϰ
ϮϬϭϴͿ <ĂďƵƉĂƚĞŶ
ŝƌĞďŽŶ͕
WƌŽƉŝŶƐŝ:ĂǁĂ
ĂƌĂƚ
ϭϱ͘ ŝĚĂŶŐdĂŶĂŚ
ƚĞƌůĞƚĂŬ
ŝ<ĞůƵƌĂŚĂŶ
dĞƌďŽLJŽ
ϬϬϬϱϴͬϮϬϭϴ
tĞƚĂŶ͕ dĞŵƉĂƚ ϯϰ͘ϴϳϴ͘ϵϳϯ͘ϭϮϱ
ϬϬϬϰϴ ϭϯͲϬϲͲϮϬϬϱ ;ϬϯͲϬϳͲ ϭϰͲϬϲͲϮϬϯϱ ϲ͘ϲϴϵ
<ĞĐĂŵĂƚĂŶ WĞŶLJŝŵƉĂ
ϮϬϭϴͿ
'ĞŶƵŬ͕<ŽƚĂ ŶĂŶhŶŝƚ
^ĞŵĂƌĂŶŐ͕ <ĞŶĚĂƌĂĂ
WƌŽƉŝŶƐŝ:ĂǁĂ ŶdĂƌŝŬĂŶ
dĞŶŐĂŚ
ϭϲ͘ ĞƐĂƵĂ
WƵůƵŚ/ůŝƌ
^ĂƚƵ͕<ĞĐ͘/ůŝƌ <ĂŶƚŽƌ
dŝŵƵƌ^ĂƚƵ͕ ĂďĂŶŐ ϴ͕ϵϴϬ͕ϬϬϬ͕ϬϬϬ
ϬϬϯϴϴͬƵĂƉ
WƌŽǀŝŶƐŝ WĞƌƐĞƌŽĂŶ
ϮϳϮ ϭϭͲϭϮͲϮϬϮϬ ƵůƵŚŚŝůŝƌ ϬϭͲϭϭͲϮϬϰϬ ϰϮϭ
WĂůĞŵďĂŶŐ
ϭϭͲϭϮͲϮϬϮϬ
ŝƉĞƌŐƵŶĂŬĂŶ
ƵŶƚƵŬ<ĂŶƚŽƌ
ĂďĂŶŐ
17. 00201/Ca <ĂďƵƉĂƚĞŶ
tur ^ůĞŵĂŶ͕<ĞĐĂ
Tunggal/ <ĂŶƚŽƌ ϵ͘ϭϲϭ͘Ϭϴϯ͘ϯϬϰ
02/12/20 01/11/20 ŵĂƚĂŶĞƉŽŬ͕
900 2014 569 ĂďĂŶŐ
14 36 ĂĞƌĂŚ
02/12/20 WĞƌƐĞƌŽĂŶ
/ƐƚŝŵĞǁĂ
14
zŽŐLJĂŬĂƌƚĂ
ϭϴ͘ ϬϬϭϯϭͬ<ĞůĂ <ĞůƵƌĂŚĂŶ
ƉĂ'ĂĚŝŶŐ <ĞůĂƉĂ'ĂĚŝŶŐ
ϴϳϮϮ ϮϵͲϬϰͲϮϬϭϯ ĂƌĂƚͬϮϬϭϮ ϮϴͲϬϰͲϮϬϯϯ ĂƌĂƚ͕ ϳϭ
ϭϯͲϬϳͲ <ĞĐĂŵĂƚĂŶ <ĂŶƚŽƌ
ϮϬϭϮϭ <ĞůĂƉĂ ĂďĂŶŐ ϭϭ͘ϱϯϭ͘ϱϴϲ͘ϯϵϵ
ϭϵ͘ ϬϬϭϯϮͬ<ĞůĂ 'ĂĚŝŶŐ͕ WĞƌƐĞƌŽĂŶ
ƉĂ'ĂĚŝŶŐ WƌŽǀŝŶƐŝ</
ϴϳϮϭ ϭϳͲϬϰͲϮϬϭϯ ĂƌĂƚͬϮϬϭϮ ϭϲͲϬϰͲϮϬϯϯ :ĂŬĂƌƚĂ ϳϭ
ϭϯͲϬϳͲ
ϮϬϭϮϭ
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EŽ͘^ƵƌĂƚ dĂŶŐŐĂů EŝůĂŝ
EŽ͘ dĂŶŐŐĂů >ŽŬĂƐŝ^,' >ƵĂƐ
EŽ hŬƵƌͬ'Ăŵď ĞƌĂŬŚŝƌŶLJĂ &ƵŶŐƐŝ dĂŚƵŶƵŬƵ
^,' WĞŶĞƌďŝƚĂŶ ĚĂŶ&ƵŶŐƐŝ ;DϮͿ
Ăƌ^ŝƚƵĂƐŝ ,ĂŬ ĞƐĞŵďĞƌϮϬϮϰ
ϮϬ͘ ϯϰϭϰͬϭϵϵϭͬ <ĞůƵƌĂŚĂŶ
dĂŵďĂŬďŽLJ dĂŵďĂŬďŽLJŽ͕
ϵϴ ϬϴͲϬϴͲϮϬϮϭ ϬϴͲϬϴͲϮϬϰϭ ϯ͘ϮϵϮ
Ž <ĞĐĂŵĂƚĂŶ
ϮϱͲϭϬͲϭϵϵϭ ŵďĂƌĂǁĂ͕ dĞŵƉĂƚ
Ϯϭ͘ <ĂďƵƉĂƚĞŶ WĞŶLJŝŵƉĂ ϭϲ͘ϭϳϴ͘Ϯϵϵ͘ϭϵϬ
Ϯϯϴϰͬϭϵϵϲͬ
^ĞŵĂƌĂŶŐ͕ ŶĂŶhŶŝƚ
dĂŵďĂŬďŽLJ
ϵϵ ϬϴͲϬϴͲϮϬϮϭ ϬϴͲϬϴͲϮϬϰϭ WƌŽƉŝŶƐŝ:ĂǁĂ ϯ͘ϭϰϱ <ĞŶĚĂƌĂĂ
Ž
dĞŶŐĂŚ ŶdĂƌŝŬĂŶ
ϬϲͲϬϲͲϭϵϵϲ
ϮϮ͘ ŝĚĂŶŐdĂŶĂŚ ϭ͘ϳϳϯ
^,DEŽ͘ϴϱϰ;ΎͿ
ƚĞƌůĞƚĂŬ
Ϯϯ͘ ŝ<ĞůƵƌĂŚĂŶ ϭ͘ϳϭϱ
^,DEŽ͘ϭϭϯϴ;ΎͿ
tĂŶĂƌĞũĂŶ͕ dĞŵƉĂƚ
Ϯϰ͘ <ĞĐĂŵĂƚĂŶ ϭ͘ϳϬϬ WĞŶLJŝŵƉĂ
^,DEŽ͘ϭϭϮϵ;ΎͿ dĂŵĂŶ͕ ŶĂŶhŶŝƚ ϭϰ͘ϲϵϯ͘ϱϮϬ͘ϵϲϰ
Ϯϱ͘ <ĂďƵƉĂƚĞŶ <ĞŶĚĂƌĂĂ
WĞŵĂůĂŶŐ͕ ŶdĂƌŝŬĂŶ
^,DEŽ͘ϬϬϱϳϬ;ΎͿ ϭ͘ϱϬϳ
WƌŽƉŝŶƐŝ:ĂǁĂ
dĞŶŐĂŚ
Ϯϲ͘ ŝĚĂŶŐdĂŶĂŚ
ƚĞƌůĞƚĂŬĚŝ
<ĞůƵƌĂŚĂŶ
ŝĚĂƌĂŝŶĂ͕
<ĞĐĂŵĂƚĂŶ <ĂŶƚŽƌ
^,'EK͘ϬϭϳϳϮͬ/Z/E ϭϳϵ
:ĂƚŝŶĞŐĂƌĂ͕ ĂďĂŶŐ ϭϯ͕Ϯϯϰ͕ϱϬϬ͕ϬϬϬ
<ŽƚĂŵĂĚLJĂ WĞƌƐĞƌŽĂŶ
:ĂŬĂƌƚĂdŝŵƵƌ͕
WƌŽƉŝŶƐŝ</
:ĂŬĂƌƚĂ
ĂƚĂƚĂŶ͗
Ύ Ϳ ĞƌĚĂƐĂƌŬĂŶ ^ƵƌĂƚ <ĂŶƚŽƌ EŽƚĂƌŝƐͬWWd EŽ͘ϬϬϭͬsͬϮϬϮϱ ƚĂŶŐŐĂů ϭϰ DĞŝ ϮϬϮϱ ĚŝŬĞůƵĂƌŬĂŶ ĚĂŶ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ
^ƵŐŝŚĂƌƚŽ͕ ^͘,͕͘EŽƚĂƌŝƐΘWWdĚŝ <ĂďƵƉĂƚĞŶWĞŵĂůĂŶŐ͕ĚŝƚĞƌĂŶŐŬĂŶďĂŚǁĂƉĞŶŐƵƌƵƐĂŶĂƚĂƐƚĂŶĂŚ ^,DEŽ͘ϬϱϳϬ͕^,D
EŽ͘ϭϭϯϴ͕^,DEŽ͘ϭϭϮϵ͕ĚĂŶ^,DEŽ͘ϴϱϰŵĂƐŝŚĚĂůĂŵƉƌŽƐĞƐƉĞŶĐĂƚĂƚĂŶƉĞŶĚĂĨƚĂƌĂŶŵĞŶŐŐƵŶĂŬĂŶŶĂŵĂƉĞŶũƵĂůƚĞƌůĞďŝŚ
ĚĂŚƵůƵ͕ƐĞƚĞůĂŚƐƚĂƚƵƐƚĂŶĂŚƐƵĚĂŚŵĞŶũĂĚŝƚĂŶĂŚĚĂƌĂƚ͕ŬĞŵƵĚŝĂŶĂŬĂŶĚŝďĂůŝŬŶĂŵĂŬĞWd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ͘
< EZE ZDKdKZ
WĂĚĂƚĂŶŐŐĂůƉƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶWĞƌƐĞƌŽĂŶŵĞŵŝůŝŬŝŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌLJĂŶŐƚĞƌƐĞďĂƌĚŝ<ĂŶƚŽƌWƵƐĂƚ
ĚĂŶ<ĂŶƚŽƌĂďĂŶŐ͕ƚĞƌĚŝƌŝĚĂƌŝϯϳϱ;ƚŝŐĂƌĂƚƵƐƚƵůƵŚƉƵůƵŚůŝŵĂͿƵŶŝƚŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌZŽĚĂ ŵƉĂƚ͕ĚĂŶ
ϭϵϳ;ƐĞƌĂƚƵƐƐĞŵďŝůĂŶƉƵůƵŚƚƵũƵŚͿƵŶŝƚŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌƌŽĚĂ
ϭϱ͘ < '/dEh^,W Z^ ZKE͕< E ZhE'EEWZK^W <h^,hDhD
<ĞŐŝĂƚĂŶWĞƌƐĞƌŽĂŶ
<ĞŐŝĂƚĂŶhƐĂŚĂWĞƌƐĞƌŽĂŶďĞƌĚĂƐĂƌŬĂŶŬƚĂWĞŶĚŝƌŝĂŶ͕ƐĞƐƵĂŝŬĞƚĞŶƚƵĂŶWĂƐĂůϯŶŐŐĂƌĂŶĂƐĂƌ͕DĂŬƐƵĚĚĂŶ
dƵũƵĂŶWĞƌƐĞƌŽĂŶŝĂůĂŚ͗ ͲŵĞŶũĂůĂŶŬĂŶƵƐĂŚĂͲƵƐĂŚĂĚŝďŝĚĂŶŐĐŽŶƐƵŵĞƌƐĨŝŶĂŶĐĞĂƚĂƵƉĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ
LJĂŝƚƵŬĞŐŝĂƚĂŶƵƐĂŚĂƉĞŵďŝĂLJĂĂŶƵŶƚƵŬƉĞŶŐĂĚĂĂŶďĂƌĂŶŐďĞƌĚĂƐĂƌŬĂŶŬĞďƵƚƵŚĂŶŬŽŶƐƵŵĞŶĚĞŶŐĂŶƐŝƐƚŝŵ
ƉĞŵďĂLJĂƌĂŶĂŶŐƐƵƌĂŶĂƚĂƵďĞƌŬĂůĂŽůĞŚŬŽŶƐƵŵĞŶ͘hŶƚƵŬŵĞŶĐĂƉĂŝŵĂŬƐƵĚƚĞƌƐĞďƵƚĚŝĂƚĂƐWĞƌƐĞƌŽĂŶĚĂƉĂƚ
ďĞŬĞƌũĂƐĂŵĂĚĞŶŐĂŶƉĞƌƵƐĂŚĂĂͲƉĞƌƵƐĂŚĂĂŶůĂŝŶŶLJĂ͘
^ĞůĂŶũƵƚŶLJĂ͕ďĞƌĚĂƐĂƌŬĂŶŬƚĂWĞƌŶLJĂƚĂĂŶ<ĞƉƵƚƵƐĂŶ ĚĂƌĂŶWĞŵĞŐĂŶŐ^ĂŚĂŵWd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ
ƐĞďĂŐĂŝ WĞŶŐŐĂŶƚŝ ZĂƉĂƚ hŵƵŵ WĞŵĞŐĂŶŐ ^ĂŚĂŵ EŽ͘ Ϯϲ ƚĂŶŐŐĂů ϴ :ĂŶƵĂƌŝ ϮϬϮϰ LJĂŶŐ ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ
DƵŚĂŵŵĂĚ<ŚŽůŝĚƌƚŚĂ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͕ĚĂŶƚĞůĂŚ͗;ŝͿŵĞŶĚĂƉĂƚŬĂŶƉĞƌƐĞƚƵũƵĂŶĚĂƌŝDĞŶƚĞƌŝ,ƵŬƵŵ
ĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚ<ĞƉƵƚƵƐĂŶEŽ͘,hͲϬϬϬϭϱϯϭ͘,͘Ϭϭ͘ϬϮ͘dĂŚƵŶ
ϮϬϮϰdĂŶŐŐĂůϭϬ:ĂŶƵĂƌŝϮϬϮϰ͕;ŝŝͿĚŝďĞƌŝƚĂŚƵŬĂŶŬĞƉĂĚĂĚĂŶĚŝƚĞƌŝŵĂƐĞƌƚĂĚŝĐĂƚĂƚĚĂůĂŵĂƚĂďĂƐĞ^ŝƐŵŝŶďĂŬƵŵ
<ĞŵĞŶƚĞƌŝĂŶ,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂƐĞďĂŐĂŝŵĂŶĂƚĞƌŶLJĂƚĂĚĂƌŝ^ƵƌĂƚWĞŶĞƌŝŵĂĂŶ
WĞŵďĞƌŝƚĂŚƵŶĂŶ WĞƌƵďĂŚĂŶ ĂƚĂ WĞƌƐĞƌŽĂŶ EŽ͘ ,hͲ,͘Ϭϭ͘ϬϵͲϬϬϭϬϱϭϴ ƚĂŶŐŐĂů ϭϬ :ĂŶƵĂƌŝ ϮϬϮϰ͕ ;ŝŝŝͿ
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ĚŝĚĂĨƚĂƌŬĂŶĚĂůĂŵĂĨƚĂƌWĞƌƐĞƌŽĂŶEŽ͘,hͲϬϬϬϱϭϲϬ͘,͘Ϭϭ͘ϭϭ͘dĂŚƵŶϮϬϮϰƉĂĚĂƚĂŶŐŐĂůϭϬ:ĂŶƵĂƌŝϮϬϮϰŽůĞŚ
DĞŶƚĞƌŝ,ƵŬƵŵĚĂŶ,ĂŬƐĂƐŝDĂŶƵƐŝĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ͕WĂƐĂůϯŶŐŐĂƌĂŶĂƐĂƌWĞƌƐĞƌŽĂŶŵĞŶŐĞŶĂŝŵĂŬƐƵĚ
ĚĂŶ ƚƵũƵĂŶ ƐĞƌƚĂ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ WĞƌƐĞƌŽĂŶ ŵĞŶŐĞůĂŵŝ ƉĞƌƵďĂŚĂŶ͕ ƵŶƚƵŬ ĚŝƐĞƐƵĂŝŬĂŶ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ
<ůĂƐŝĨŝŬĂƐŝĂŬƵ>ĂƉĂŶŐĂŶhƐĂŚĂ/ŶĚŽŶĞƐŝĂϮϬϮϬĚĞŶŐĂŶŵĞŵƉĞƌŚĂƚŝŬĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐƵŶĚĂŶŐĂŶLJĂŶŐ
ďĞƌůĂŬƵ͕ŵĞŶũĂĚŝƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
^ĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ WĂƐĂů ϯ LJĂƚ ;ϭͿ ŶŐŐĂƌĂŶ ĂƐĂƌ͕ DĂŬƐƵĚ ĚĂŶ dƵũƵĂŶ WĞƌƐĞƌŽĂŶ ŝĂůĂŚ ŬƚŝǀŝƚĂƐ
<ĞƵĂŶŐĂŶĚĂŶƐƵƌĂŶƐŝ;<ĂƚĞŐŽƌŝ<Ϳ
^ĞůĂŶũƵƚŶLJĂ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ WĂƐĂů ϯ LJĂƚ ;ϮͿ ŶŐŐĂƌĂŶ ĂƐĂƌ͕ ƵŶƚƵŬ ŵĞŶĐĂƉĂŝ DĂŬƐƵĚ ĚĂŶ dƵũƵĂŶ
ƚĞƌƐĞďƵƚĚŝĂƚĂƐ͕WĞƌƐĞƌŽĂŶĚĂƉĂƚŵĞůĂŬƵŬĂŶŬĞŐŝĂƚĂŶƵƐĂŚĂƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
a. WĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ<ŽŶǀĞŶƐŝŽŶĂů;ϲϰϵϭϭͿ͗
DĞŶĐĂŬƵƉƵƐĂŚĂƉĞƌƵƐĂŚĂĂŶƉĞŵďŝĂLJĂĂŶLJĂŶŐĚŝƐĞůĞŶŐŐĂƌĂŬĂŶƐĞĐĂƌĂŬŽŶǀĞŶƐŝŽŶĂů͕ĚĞŶŐĂŶŬĞŐŝĂƚĂŶ
ƵƐĂŚĂŵĞůŝƉƵƚŝƉĞŵďŝĂLJĂĂŶďĂƌĂŶŐĚĂŶͬĂƚĂƵũĂƐĂLJĂŝƚƵƉĞŵďŝĂLJĂĂŶŝŶǀĞƐƚĂƐŝ͕ƉĞŵďŝĂLJĂĂŶŵŽĚĂůŬĞƌũĂ͕
ƉĞŵďŝĂLJĂĂŶŵƵůƚŝŐƵŶĂĚĂŶͬĂƚĂƵŬĞŐŝĂƚĂŶƵƐĂŚĂƉĞŵďŝĂLJĂĂŶůĂŝŶ
b. hŶŝƚhƐĂŚĂ^LJĂƌŝĂŚWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ;ϲϰϵϭϯͿ
DĞŶĐĂŬƵƉ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ƵŶŝƚ ŬĞƌũĂ ĚĂƌŝ ŬĂŶƚŽƌ ƉƵƐĂƚ ƉĞƌƵƐĂŚĂĂŶ ƉĞŵďŝĂLJĂĂŶ LJĂŶŐ ŵĞůĂŬƐĂŶĂŬĂŶ
ŬĞŐŝĂƚĂŶƉĞŵďŝĂLJĂĂŶƐLJĂƌŝĂŚĚĂŶͬĂƚĂƵďĞƌĨƵŶŐƐŝƐĞďĂŐĂŝŬĂŶƚŽƌŝŶĚƵŬĚĂƌŝŬĂŶƚŽƌLJĂŶŐŵĞůĂŬƐĂŶĂŬĂŶ
ƉĞŵďŝĂLJĂĂŶƐLJĂƌŝĂŚ͘
^ĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ WĂƐĂů ϯ LJĂƚ ;ϮͿ ŶŐŐĂƌĂŶ ĂƐĂƌ ƚĞƌƐĞďƵƚ Ěŝ ĂƚĂƐ͕ <ĞŐŝĂƚĂŶ hƐĂŚĂ WĞƌƐĞƌŽĂŶ
ďĞƌĚĂƐĂƌŬĂŶŶŐŐĂƌĂŶĂƐĂƌĚĂŶͬĂƚĂƵ<>/ĂĚĂůĂŚWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ<ŽŶǀĞŶƐŝŽŶĂů;ϲϰϵϭϭͿhŶŝƚhƐĂŚĂ
^LJĂƌŝĂŚ WĞƌƵƐĂŚĂĂŶ WĞŵďŝĂLJĂĂŶ ;ϲϰϵϭϯͿ͕ ŶĂŵƵŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ LJĂŶŐ ƚĞůĂŚ ďĞŶĂƌ ďĞŶĂƌ ĚŝũĂůĂŶŬĂŶ ƐĂĂƚ ŝŶŝ
ĂĚĂůĂŚƉĞŵďŝĂLJĂĂŶŝŶǀĞƐƚĂƐŝ͕ƉĞŵďŝĂLJĂĂŶŵŽĚĂůŬĞƌũĂ͕ƉĞŵďŝĂLJĂĂŶŵƵůƚŝŐƵŶĂ͕ƉĞŵďŝĂLJĂĂŶƐĞǁĂŽƉĞƌĂƐŝĚĂŶ
ƉĞŵďŝĂLJĂĂŶƐLJĂƌŝĂŚ͘
WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞůĂŬƵŬĂŶ ƉĞŶLJĞƐƵĂŝĂŶ ƚĞƌŚĂĚĂƉ ŵĂŬƐƵĚ ĚĂŶ ƚƵũƵĂŶ ƚĞƌƐĞďƵƚ ĚĞŶŐĂŶ <ůĂƐŝĨŝŬĂƐŝ ĂŬƵ
>ĂƉĂŶŐĂŶ hƐĂŚĂ /ŶĚŽŶĞƐŝĂ ;<>/Ϳ ϮϬϮϬ͕ ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌŵĂŬƚƵď ĚĂůĂŵ WĞƌŝnjŝŶĂŶ ĞƌƵƐĂŚĂ ĞƌďĂƐŝƐ ZŝƐŝŬŽ
EŽŵŽƌ /ŶĚƵŬ WĞƌƐĞƌŽĂŶ͗ ϴϭϮϬϬϬϯϵϬϭϲϳϱ ƚĂŶŐŐĂů ϭϯ DĞŝ ϮϬϮϮ͕ <ŽĚĞ <>/͗ ϲϰϵϭϭ WĞƌƵƐĂŚĂĂŶ WĞŵďŝĂLJĂĂŶ
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;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
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<ĞƚĞƌĂŶŐĂŶ ϮϬϮϰ ϮϬϮϯ
^ĞǁĂƉĞŵďŝĂLJĂĂŶ ϵϮϵ͘ϱϵϱ ϭ͘ϭϴϱ͘ϵϵϴ
WĞŵďŝĂLJĂĂŶŬŽŶƐƵŵĞŶ ϭ͘ϭϵϯ͘ϳϰϱ ϵϬϴ͘ϯϲϰ
ŶũĂŬƉŝƵƚĂŶŐ Ϯ͘Ϭϳϵ ϴ͘ϬϭϬ
WĞŶĚĂƉĂƚĂŶĚĂƌŝƉŝƵƚĂŶŐLJĂŶŐƚĞůĂŚĚŝŚĂƉƵƐŬĂŶ͕ĚĞŶĚĂ ϯϱϮ͘ϬϵϬ ϮϰϮ͘ϯϰϵ
ŬĞƚĞƌůĂŵďĂƚĂŶĚĂŶƉŝŶĂůƚŝ
WĞŶĚĂƉĂƚĂŶ ďƵŶŐĂ͕ ůĂďĂ ƉĞŶũƵĂůĂŶ ĂƐƐĞƚ ƚĞƚĂƉ ĚĂŶ
ƉĞŶĚĂƉĂƚĂŶůĂŝŶͲůĂŝŶ 55.029 37.772
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ĂůĂŵ ƉĞŵĂƐĂƌĂŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ͕ WĞƌƐĞƌŽĂŶ ŵĞŵŝůŝŬŝ 210 Kantor Cabang, 36 Outlet Kantor Selain Kantor
Cabang dan 8 Unit Syariah yang tersebar di seluruh Indonesia. Selama tahun 2024, Perseroan memiliki 6 (enam)
Kantor Selain Kantor Cabang baru yang tersebar di beberapa daerah diantaranya : Jabodetabek (1), Jawa (3),
Sumatra (1) dan Papua (1).
'ƵŶĂŵĞŵƉĞƌůƵĂƐĐĂŬƵƉĂŶďŝƐŶŝƐĚĂŶƉĞŶĞƚƌĂƐŝƉĂƐĂƌ͕WĞƌƐĞƌŽĂŶƚĞƌƵƐďĞƌƵƉĂLJĂŵĞŶŐŽƉƚŝŵĂůŬĂŶŬĞƵŶŐŐƵůĂŶ
ŬŽŵƉĞƚŝƚŝĨLJĂŶŐĚŝŵŝůŝŬŝŵĞůĂůƵŝƉĞŶĞƌĂƉĂŶďĞƌďĂŐĂŝƐƚƌĂƚĞŐŝƉĞŵĂƐĂƌĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭ͘ WĞƌƐĞƌŽĂŶƚĞƌƵƐŵĞŶŐĂƉůŝŬĂƐŝŬĂŶƐƚƌĂƚĞŐŝďŝƐŶŝƐLJĂŶŐƚĞƉĂƚ;^ŵĂƌƚĞƌͿ͕ŵĞŵďĞƌŝŬĂŶƉĞůĂLJĂŶĂŶLJĂŶŐƉƌŝŵĂ
ĚĂŶ ƌĞƐƉŽŶƐŝĨ ;&ĂƐƚĞƌͿ͕ ƐĞůĂůƵ ŵĞŶũĂŐĂ ŬƵĂůŝƚĂƐ LJĂŶŐ ďĂŝŬ ďĂŐŝ ƉĂƌĂ ƉĞŵĂŶŐŬƵ ŬĞƉĞŶƚŝŶŐĂŶ ;ĞƚƚĞƌͿ͕ ĚĂŶ
ŵĞŵŝůŝŬŝƚĞŬĂĚƉĞŶƵŚĚĂůĂŵŵĞŶũĂǁĂďƐĞŐĂůĂďĞŶƚƵŬƚĂŶƚĂŶŐĂŶ;^ƚƌŽŶŐĞƌͿ͘WĞŵĂŶĨĂĂƚĂŶŵĞĚŝĂƉĞŵĂƐĂƌĂŶ
ƐĞĐĂƌĂĚŝŐŝƚĂůLJĂŝƚƵĚĞŶŐĂŶŵĞŵĂŬƐŝŵĂůŬĂŶƉƌŽŵŽƐŝĚŝĐŚĂŶŶĞůŽŶůŝŶĞ͕ŵĞŶŐĂĚĂŬĂŶKŶůŝŶĞĂƚĂƵsŝƌƚƵĂů džƉŽ͕
ĚĂŶǁĞďŝŶĂƌ͘^ĞůĂŝŶŝƚƵ͕WĞƌƐĞƌŽĂŶũƵŐĂŵĞůĂŬƵŬĂŶƉĂƌƚŶĞƌƐŚŝƉĚĞŶŐĂŶƌĞŬĂŶĂŶƵŶƚƵŬŵĞŵďƵĂƚǀŝĚĞŽƌĞǀŝĞǁ
117
Page 138
PT INDOMOBIL FINANCE INDONESIA
ƵŶƚƵŬŵĞŶŝŶŐŬĂƚŬĂŶŵƵƚƵĂůďĞŶĞĨŝƚĚŝĐŚĂŶŶĞůŽŶůŝŶĞ͘WĞƌƐĞƌŽĂŶũƵŐĂĂŬƚŝĨďĞƌƉĂƌƚŝƐŝƉĂƐŝĚĂůĂŵƉĞŵĞƌĂŶ
ŽƚŽŵŽƚŝĨĚĂŶŵĞŵďĞƌŝŬĂŶůŝƉƵƚĂŶŬĞŐŝĂƚĂŶŬĞƉĂĚĂŵĂƐLJĂƌĂŬĂƚ͖
Ϯ͘ DĞŶŐĞĚĞƉĂŶŬĂŶƐŝŶĞƌŐŝďĞƌƐĂŵĂ'ƌƵƉ/ŶĚŽŵŽďŝůƚĞƌƵƚĂŵĂĚĂůĂŵŵĞŵĂŶĨĂĂƚŬĂŶůƵĂƐŶLJĂũĂƌŝŶŐĂŶĚĞĂůĞƌ
'ƌƵƉ/ŶĚŽŵŽďŝůƐĞďĂŐĂŝĚŝƐƚƌŝďƵƚŽƌƚƵŶŐŐĂůĂƚĂƐďĞƌďĂŐĂŝŵĞƌĞŬŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌĂƚĂƵƉƵŶĂůĂƚďĞƌĂƚ͕
ŵĞƐŝŶ͕ĚĂŶůĂŝŶŶLJĂĚŝ/ŶĚŽŶĞƐŝĂ͖
ϯ͘ ŝǀĞƌƐŝĨŝŬĂƐŝƉƌŽĚƵŬƉĞŵďŝĂLJĂĂŶĚĂŶŵĞŶŐŽƉƚŝŵĂůŬĂŶƵƉĂLJĂĚĂůĂŵŵĞŵŝƚŝŐĂƐŝƌŝƐŝŬŽ͖
ϰ͘ DĞŵƉĞƌƚĂŚĂŶŬĂŶ ƌĞƉƵƚĂƐŝ ƵŶŐŐƵů LJĂŶŐ ĚŝďĂŶŐƵŶ ĂƚĂƐ ŬŝŶĞƌũĂ ƉŽƐŝƚŝĨ ŽƉĞƌĂƐŝŽŶĂů ŵĂƵƉƵŶ ŬĞƵĂŶŐĂŶ
WĞƌƐĞƌŽĂŶ͖
ϱ͘ DĞŶĂǁĂƌŬĂŶ ƚŝŶŐŬĂƚ ďƵŶŐĂ ƉĞŵďŝĂLJĂĂŶ LJĂŶŐ ŬŽŵƉĞƚŝƚŝĨ͖ ĚĂŶ DĞŶũĂŵŝŶ ƉĞůĂLJĂŶĂŶ LJĂŶŐ ĞĨŝƐŝĞŶ ĚĂŶ
ŵĞŵƵĂƐŬĂŶďĂŐŝƉĂƌĂŶĂƐĂďĂŚ͘
^dZd '/W Z^ ZKE
ĂůĂŵ ŵĞůĂŬƵŬĂŶ ŵĞůĂŬƵŬĂŶ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ ƉĞŵďŝĂLJĂĂŶ͕ WĞƌƐĞƌŽĂŶ ŵĞŶĞƌĂƉŬĂŶ ďĞƌďĂŐĂŝ ƐƚƌĂƚĞŐŝ ƵƐĂŚĂ͘
WĞƌƐĞƌŽĂŶ ŵĞŶLJĂĚĂƌŝ ďĂŚǁĂ ƐƚƌĂƚĞŐŝ LJĂŶŐ ĚŝũĂůĂŶŬĂŶ ĂŬĂŶ ŵĞŵƉĞŶŐĂƌƵŚŝ ŬĞďĞƌůĂŶũƵƚĂŶ ƵƐĂŚĂ Ěŝ ŵĂƐĂ
ŵĞŶĚĂƚĂŶŐ͘
ĞƌŝŬƵƚĂĚĂůĂŚďĞďĞƌĂƉĂƐƚƌĂƚĞŐŝƉĞŶŐĞŵďĂŶŐĂŶďŝƐŶŝƐLJĂŶŐĚŝƚĞƌĂƉŬĂŶŽůĞŚWĞƌƐĞƌŽĂŶ͗
ϭ͘ DĞŶŐŽƉƚŝŵĂůŬĂŶƉĞůĂLJĂŶĂŶƵŶƚƵŬŵĞŶĐŝƉƚĂŬĂŶŬĞƐĞƚŝĂĂŶĚĞĂůĞƌĚĂŶŬŽŶƐƵŵĞŶƚĞƌŚĂĚĂƉWĞƌƐĞƌŽĂŶ͖
Ϯ͘ DĞŶŐĞŵďĂŶŐŬĂŶũĂƌŝŶŐĂŶŬĞƌũĂƐĂŵĂĚĞĂůĞƌĚĞŶŐĂŶĚĞĂůĞƌͲĚĞĂůĞƌďĂƌƵŵĂƵƉƵŶŵĞƌŬͲŵĞƌŬůĂŝŶŶLJĂ͖
ϯ͘ DĞŶŝŶŐŬĂƚŬĂŶŬŽŵƵŶŝŬĂƐŝĚĞŶŐĂŶĚĞĂůĞƌĚĂŶŬŽŶƐƵŵĞŶ͖
ϰ͘ DĞůĂŬƵŬĂŶŵĂƌŬĞƚŝŶŐǀŝƐŝƚƵŶƚƵŬŵĞŵďĞƌŝŬĂŶŵŽƚŝǀĂƐŝĚĂŶƐŽůƵƐŝũŝŬĂĚĞĂůĞƌŵĞŶŐŚĂĚĂƉŝŵĂƐĂůĂŚ͖
ϱ͘ DĞŶĂŵďĂŚƚŝŵŵĂƌŬĞƚŝŶŐƵŶƚƵŬŵĞŶƵŶũĂŶŐƉĞŶŝŶŐŬĂƚĂŶũƵŵůĂŚƉĞŵďŝĂLJĂĂŶ͖
ϲ͘ DĞŶŐĞŵďĂŶŐŬĂŶƉƌŽŐƌĂŵͲƉƌŽŐƌĂŵŵĂƌŬĞƚŝŶŐĚĞŶŐĂŶŵĞŵƉĞƌƚŝŵďĂŶŐŬĂŶŬŽŶĚŝƐŝƉĞƌƐĂŝŶŐĂŶLJĂŶŐĂĚĂ͖
ϳ͘ DĞůĂŬƵŬĂŶƉƌŽŵŽƐŝďĞƌƐĂŵĂ͖
ϴ͘ DĞŶŐĞŵďĂŶŐŬĂŶƉĞŵďŝĂLJĂĂŶƐLJĂƌŝĂŚ͕ŵƵƚŝŐƵŶĂ͕ŵŝĐƌŽĨŝŶĂŶĐĞ͖
ϵ͘ DĞůĂŬƵŬĂŶƐĞŐŵĞŶƚĂƐŝďŝĚĂŶŐƵƐĂŚĂĚĂƌŝĐĂůŽŶŬŽŶƐƵŵĞŶƵŶƚƵŬŵĞŶĚĂƉĂƚŬĂŶƚĂƌŐĞƚŬŽŶƐƵŵĞŶƉŽƚĞŶƐŝĂů͖
ϭϬ͘ DĞŵĂŶĨĂĂƚŬĂŶĚĂƚĂďĂƐĞŬŽŶƐƵŵĞŶƵŶƚƵŬŵĞŵƉĞƌŽůĞŚƉĞŵďŝĂLJĂĂŶďĂƌƵ͖
ϭϭ͘ WĞŶŐŐƵŶĂĂŶ ŵĞĚŝĂ ďĞƌďĂƐŝƐ ĚŝŐŝƚĂů ďĂŝŬ ƵŶƚƵŬ ƉĞŵĂƐĂƌĂŶ ŵĂƵƉƵŶ ĚŝŐŝƚĂůŝƐĂƐŝ ƉĞŶŐĞŵďĂŶŐĂŶ ƉƌŽƐĞƐ
ŝŶƚĞƌŶĂů͘
ĚĂƉƵŶ ^ƚƌĂƚĞŐŝ ĚĂŶ ůĂŶŐŬĂŚͲůĂŶŐŬĂŚ ŬŽŶŬƌĞƚ ƉĞƌƵƐĂŚĂĂŶ ƵŶƚƵŬ ŵĞŶŝŶŐŬĂƚŬĂŶ ŬƵĂŶƚŝƚĂƐ ĚĂŶ ŬƵĂůŝƚĂƐ
ƉĞŶLJĂůƵƌĂŶƉĞŵďŝĂLJĂĂŶƉĂĚĂƐĞŐŵĞŶhD<DƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
^ƚƌĂƚĞŐŝ͗
• DĞŶLJĞĚŝĂŬĂŶƉƌŽĚƵŬďĞƌĂŐĂŵĚĂŶŬĞƚĞƌũĂŶŐŬĂƵĂŶƉƌŽĚƵŬƐĞŚŝŶŐŐĂĚĂƉĂƚĚŝĂŬƐĞƐĚĂŶŵĂŵƉƵŵĞŵĞŶƵŚŝ
ŬĞďƵƚƵŚĂŶƐĞůƵƌƵŚůĂƉŝƐĂŶŵĂƐLJĂƌĂŬĂƚ͖
• DĞŵďĞƌŝŬĂŶƉĞŵďŝĂLJĂĂŶĚĞŶŐĂŶďŝĂLJĂŬŽŵƉĞƚŝƚŝĨĚĞŶŐĂŶƚĞƚĂƉŵĞŶĞƌĂƉŬĂŶƉƌŝŶƐŝƉŬĞŚĂƚŝͲŚĂƚŝĂŶ͖
• WĞŶŐŐƵŶĂĂŶƚĞŬŶŽůŽŐŝŝŶĨŽƌŵĂƐŝďĞƌďĂƐŝƐĚŝŐŝƚĂůĚĂůĂŵƉƌŽƐĞƐƉĞŵĂƐĂƌĂŶŵĂƵƉƵŶŽƉĞƌĂƐŝŽŶĂůWĞƌƵƐĂŚĂĂŶ
ĚĞŶŐĂŶƚĞƚĂƉŵĞŵĂƐƚŝŬĂŶĂƐƉĞŬŬĞĂŵĂŶĂŶĚĂƚĂ͘
>ĂŶŐŬĂŚŬŽŶŬƌĞƚ͗
• ZĞŶĐĂŶĂƉĞŶŐĞŵďĂŶŐĂŶĚĂŶͬĂƚĂƵƉĞƌůƵĂƐĂŶũĂƌŝŶŐĂŶŬĂŶƚŽƌ͖
• DĞŶŐĞŵďĂŶŐŬĂŶũĂƌŝŶŐĂŶŬĞƌũĂƐĂŵĂĚĞŶŐĂŶĚĞĂůĞƌďĂƌƵŵĂƵƉƵŶŵĞƌŬͲŵĞƌŬďĂƌƵ͖
• KƉƚŝŵĂůŝƐĂƐŝĨŝƚƵƌͲĨŝƚƵƌƉĂĚĂŵŽďŝůĞĂƉƉƐƵŶƚŝůŬŽŶƐƵŵĞŶĚĂŶĐĂůŽŶŬŽŶƐƵŵĞŶ͖
• DĞŶŐĂĚĂŬĂŶŽŶůŝŶĞĞdžŚŝďŝƚŝŽŶƐĞďĂŐĂŝŵĞĚŝĂŬĞŐŝĂƚĂŶƉĞŵĂƐĂƌĂŶ͘
WĞƌƐĞƌŽĂŶũƵŐĂŵĞŵŝůŝŬŝƐƚƌĂƚĞŐŝĚĂŶůĂŶŐŬĂŚͲůĂŶŐŬĂŚŬŽŶŬƌĞƚƵŶƚƵŬŵĞƌĞƐƉŽŶĚƵŬƵŶŐĂŶƚĞƌŚĂĚĂƉŬĞďŝũĂŬĂŶ
ƉĞŵĞƌŝŶƚĂŚĚĂůĂŵŵĞŶŝŶŐŬĂƚŬĂŶƉĞƌƚƵŵďƵŚĂŶĚĂŶŵĞŵƉĞƌŬƵĂƚƉĞƌĞŬŽŶŽŵŝĂŶŶĂƐŝŽŶĂůƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
^ƚƌĂƚĞŐŝ͗
• DĞŶŐĞŵďĂŶŐŬĂŶĐŚĂŶŶĞůƉĞŵďĂLJĂƌĂŶĂŶŐƐƵƌĂŶŬŽŶƐƵŵĞŶŵĞůĂůƵŝĞŬŽƐŝƐƚĞŵŬĞƵĂŶŐĂŶĚŝŐŝƚĂů͖
• DĞŶŐĞŵďĂŶŐŬĂŶũĂƌŝŶŐĂŶŬĞƌũĂƐĂŵĂĚĞŶŐĂŶĚĞĂůĞƌďĂƌƵŵĂƵƉƵŶŵĞƌŬͲŵĞƌŬďĂƌƵ͖
>ĂŶŐŬĂŚŬŽŶŬƌĞƚ͗
• ĞŬĞƌũĂƐĂŵĂĚĞŶŐĂŶďĂŶŬ͕ƉĞŶLJĞĚŝĂĚŽŵƉĞƚĚŝŐŝƚĂů͕ĞĐŽŵŵĞƌĐĞĚĂŶƉĞŶŐŐƵŶĂĂŶYZ/^ƐĞďĂŐĂŝŵĞĚŝĂ
ƉĞŵďĂLJĂƌĂŶĂŶŐƐƵƌĂŶŬŽŶƐƵŵĞŶ͖
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• DĞŶŐĞŵďĂŶŐŬĂŶũĂƌŝŶŐĂŶŬĞƌũĂƐĂŵĂĚĞŶŐĂŶĚĞĂůĞƌďĂƌƵŵĂƵƉƵŶŵĞƌŬͲŵĞƌŬďĂƌƵ͘
^ĂŵƉĂŝ ĚĞŶŐĂŶ ƚĂŶŐŐĂů WƌŽƐƉĞŬƚƵƐ ŝŶŝ ĚŝƚĞƌďŝƚŬĂŶ͕ ƚŝĚĂŬ ƚĞƌĚĂƉĂƚ ŬĞĐĞŶĚĞƌƵŶŐĂŶ LJĂŶŐ ƐŝŐŶŝĨŝŬĂŶ ĚĂůĂŵ
ƉƌŽĚƵŬƐŝ͕ ƉĞŶũƵĂůĂŶ͕ ƉĞƌƐĞĚŝĂĂŶ͕ ďĞďĂŶ ĚĂŶ ŚĂƌŐĂ ƉĞŶũƵĂůĂŶ ƐĞũĂŬ ƚĂŚƵŶ ďƵŬƵ ƚĞƌĂŬŚŝƌ LJĂŶŐ ŵĞŵƉĞŶŐĂƌƵŚŝ
ŬĞŐŝĂƚĂŶƵƐĂŚĂĚĂŶƉƌŽƐƉĞŬŬĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶ͘
^ĂŵƉĂŝĚĞŶŐĂŶƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞĐĞŶĚĞƌƵŶŐĂŶ͕ŬĞƚŝĚĂŬƉĂƐƚŝĂŶ͕ƉĞƌŵŝŶƚĂĂŶ͕
ŬŽŵŝƚŵĞŶ͕ĂƚĂƵƉĞƌŝƐƚŝǁĂLJĂŶŐĚĂƉĂƚĚŝŬĞƚĂŚƵŝLJĂŶŐĚĂƉĂƚŵĞŵƉĞŶŐĂƌƵŚŝƐĞĐĂƌĂƐŝŐŶŝĨŝŬĂŶƉĞŶũƵĂůĂŶďĞƌƐŝŚ
ĂƚĂƵ ƉĞŶĚĂƉĂƚĂŶ ƵƐĂŚĂ͕ ƉĞŶĚĂƉĂƚĂŶ ĚĂƌŝ ŽƉĞƌĂƐŝ ďĞƌũĂůĂŶ͕ ƉƌŽĨŝƚĂďŝůŝƚĂƐ͕ůŝŬƵŝĚŝƚĂƐ ĂƚĂƵ ƐƵŵďĞƌ ŵŽĚĂů͕ ĂƚĂƵ
ƉĞƌŝƐƚŝǁĂLJĂŶŐĂŬĂŶŵĞŶLJĞďĂďŬĂŶŝŶĨŽƌŵĂƐŝŬĞƵĂŶŐĂŶLJĂŶŐĚŝůĂƉŽƌŬĂŶƚŝĚĂŬĚĂƉĂƚĚŝũĂĚŝŬĂŶŝŶĚŝŬĂƐŝĂƚĂƐŚĂƐŝů
ŽƉĞƌĂƐŝĂƚĂƵŬŽŶĚŝƐŝŬĞƵĂŶŐĂŶŵĂƐĂĚĂƚĂŶŐ͘
<ĞŐŝĂƚĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝƐŝĨĂƚŵƵƐŝŵĂŶ͘
^ĂŵƉĂŝĚĞŶŐĂŶƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶ͕ƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞƌŐĂŶƚƵŶŐĂŶWĞƌƐĞƌŽĂŶƚĞƌŚĂĚĂƉŬŽŶƚƌĂŬ
ŝŶĚƵƐƚƌŝĂů͕ŬŽŵĞƌƐŝĂů͕ĂƚĂƵŬĞƵĂŶŐĂŶ͕ƚĞƌŵĂƐƵŬŬŽŶƚƌĂŬĚĞŶŐĂŶƉĞůĂŶŐŐĂŶ͕ƉĞŵĂƐŽŬ͕ĚĂŶͬĂƚĂƵƉĞŵĞƌŝŶƚĂŚ͘
dŝĚĂŬĂĚĂ<ĞŐŝĂƚĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶƐĞŚƵďƵŶŐĂŶĚĞŶŐĂŶŵŽĚĂůŬĞƌũĂLJĂŶŐŵĞŶŝŵďƵůŬĂŶƌŝƐŝŬŽŬŚƵƐƵƐ͘
W Z^/E'Eh^,
ĂůĂŵŵĞŶŐŚĂĚĂƉŝďĞƌďĂŐĂŝƚĂŶƚĂŶŐĂŶĚĂŶƉĞůƵĂŶŐ͕WĞƌƐĞƌŽĂŶŵĞŶŝŶũĂƵƉĞƌŬĞŵďĂŶŐĂŶŝŶĚƵƐƚƌŝƉĞŵďŝĂLJĂĂŶ
ƐĞƌƚĂ ĚŝŶĂŵŝŬĂ ƉĞƌƐĂŝŶŐĂŶ ƵƐĂŚĂ ƐĞďĂŐĂŝ ƉĞƌƚŝŵďĂŶŐĂŶ ĚĂůĂŵ ŵĞŶŐŝŵƉůĞŵĞŶƚĂƐŝŬĂŶ ƐƚƌĂƚĞŐŝ ŐƵŶĂ
ŵĞŶŝŶŐŬĂƚŬĂŶ ĚĂLJĂ ƐĂŝŶŐ͘ WĞƌƐĞƌŽĂŶ ƉĞƌĐĂLJĂ ďĂŚǁĂ ƉĞƌƐĂŝŶŐĂŶ ƵƐĂŚĂ LJĂŶŐ ƐĞŚĂƚ ĂŬĂŶ ŵĞŶĚƵŬƵŶŐ
ŬĞůĂŶŐƐƵŶŐĂŶ ĚĂŶ ƉĞƌŬĞŵďĂŶŐĂŶ ďŝƐŶŝƐ WĞƌƐĞƌŽĂŶ Ěŝ ŵĂƐĂ ŵĞŶĚĂƚĂŶŐ͕ ŽůĞŚ ŬĂƌĞŶĂŶLJĂ WĞƌƐĞƌŽĂŶ
ŵĞŶŐŝŵƉůĞŵĞŶƚĂƐŝŬĂŶďĞďĞƌĂƉĂŬĞďŝũĂŬĂŶĚĂŶƐƚƌĂƚĞŐŝ͕ĚŝĂŶƚĂƌĂŶLJĂ͗
ϭ͘ ŝǀĞƌƐŝĨŝŬĂƐŝWƌŽĚƵŬ
WĞƌƐĞƌŽĂŶŵĞůĂŬƵŬĂŶĚŝǀĞƌƐŝĨŝŬĂƐŝƉĞŵďŝĂLJĂĂŶƵŶƚƵŬŵĞŶũĂǁĂďďĞƌďĂŐĂŝŬĞďƵƚƵŚĂŶĚŝƉĂƐĂƌƉĞŵďŝĂLJĂĂŶ
LJĂŶŐƚĞƌĚŝƌŝĚĂƌŝďĞďĞƌĂƉĂũĞŶŝƐƉƌŽĚƵŬLJĂŝƚƵ͕ƉĞŵďŝĂLJĂĂŶŬĞŶĚĂƌĂĂŶ ƌŽĚĂĚƵĂ͕ŬĞŶĚĂƌĂĂŶƌŽĚĂ ĞŵƉĂƚ͕
ŬĞŶĚĂƌĂĂŶ ŬŽŵĞƌƐŝĂů͕ ĂůĂƚ ďĞƌĂƚ͕ ŬƌĞĚŝƚ ƉĞŵďŝĂLJĂĂŶ ƉƌŽƉĞƌƚŝ ;<WWͿ͕ ŵŝĐƌŽ ĨŝŶĂŶĐŝŶŐ͕ DƵůƚŝŐƵŶĂ͕ ĚĂŶ
ƉĞŵďŝĂLJĂĂŶůĂŝŶŶLJĂ͘
Ϯ͘ ŝǀĞƌƐŝĨŝŬĂƐŝ<ŽŶƐƵŵĞŶ
ĂůĂŵ ŵĞŶLJĂůƵƌŬĂŶ ƉĞŵďŝĂLJĂĂŶ͕ WĞƌƐĞŽƌĂŶ ŵĞŵďŝĂLJĂŝ ŬŽŶƐƵŵĞŶ ĚĂƌŝ ďĞƌďĂŐĂŝ ŝŶĚƵƐƚƌŝ ƵŶƚƵŬ
ŵĞŶŐŚŝŶĚĂƌŝ ƌŝƐŝŬŽ ŬŽŶƐĞŶƚƌĂƐŝ ŬƌĞĚŝƚ ƉĂĚĂ ŬŽŶƐƵŵĞŶ ƚĞƌƚĞŶƚƵ͘ ^ĞůĂŝŶ ŝƚƵ͕ WĞƌƐĞƌŽĂŶ ũƵŐĂ ďĞƌƵƉĂLJĂ
ŵĞŵďĞƌŝŬĂŶ ůĂLJĂŶĂŶ ƉĞŵďŝĂLJĂĂŶ ƵŶƚƵŬ ƐĞůƵƌƵŚ ƐĞŬƚŽƌ ĞŬŽŶŽŵŝ͕ ƐĞƐƵĂŝ ŬĞƌĂŐĂŵĂŶ ĂŬƚŝǀŝƚĂƐ ĞŬŽŶŽŵŝ
ŵĂƐLJĂƌĂŬĂƚĚĂŶƚŝĚĂŬŵĞŵĨŽŬƵƐŬĂŶƉĂĚĂƐĂƚƵƐĞŬƚŽƌĞŬŽŶŽŵŝƚĞƌƚĞŶƚƵ͘
ϯ͘ ƌĞĂWĞŵďŝĂLJĂĂŶ
WĞƌƐĞƌŽĂŶ ŵĞŶŝŶŐŬĂƚŬĂŶ ĚĂLJĂ ƐĂŝŶŐ ƉĂĚĂ ǁŝůĂLJĂŚ ĚĞŶŐĂŶ ƉŽƚĞŶƐŝ ƉĂƐĂƌ ďĞƐĂƌ ŬŚƵƐƵƐŶLJĂ Ěŝ ƉƵůĂƵ :ĂǁĂ
ŵĞůĂůƵŝŝŶƚĞŶƐŝĨŝŬĂƐŝƉĞŵďŝĂLJĂĂŶďĞƌďĂŐĂŝũĞŶŝƐƉƌŽĚƵŬLJĂŶŐĚŝƚĂǁĂƌŬĂŶ͘
ϰ͘ ŝǀĞƌƐŝĨŝŬĂƐŝ^ƵŵďĞƌWĞŶĚĂŶĂĂŶ
WĞƌƐĞƌŽĂŶŵĞůĂŬƵŬĂŶĚŝǀĞƌƐŝĨŝŬĂƐŝƐƵŵďĞƌƉĞŶĚĂŶĂĂŶĚĞŶŐĂŶƚĞƚĂƉŵĞŶŐĂĐƵƉĂĚĂƚŝŶŐŬĂƚďƵŶŐĂƉŝŶũĂŵĂŶ
LJĂŶŐŬŽŵƉĞƚŝƚŝĨ͕ĂŶƚĂƌĂůĂŝŶ͗
• DĞŶĞƌďŝƚŬĂŶŽďůŝŐĂƐŝ
• DĞŶĚĂƉĂƚŬĂŶƉŝŶũĂŵĂŶƐŝŶĚŝŬĂƐŝĚĂůĂŵĚĞŶŽŵŝŶĂƐŝŵĂƚĂƵĂŶŐh^
• DĞŶŝŶŐŬĂƚŬĂŶŬĞƌũĂƐĂŵĂLJĂŶŐƐĞůĂŵĂŝŶŝƐƵĚĂŚƚĞƌũĂůŝŶďĂŝŬĚĞŶŐĂŶƉĞƌďĂŶŬĂŶůŽĐĂůŵĂƵƉƵŶĂƐŝŶŐ
• DĞŶũĂůŝŶ ŬĞƌũĂƐĂŵĂ ĚĞŶŐĂŶ ŬƌĞĚŝƚƵƌ ďĂƌƵ ƵŶƚƵŬ ŵĞŵƉĞƌůƵĂƐ ƌĞůĂƐŝ ƌĞŬĂŶĂŶ ďĂŶŬ ĚĂŶ ŬĞƐĞŵƉĂƚĂŶ
ƉĞŶĚĂŶĂĂŶ
ϱ͘ WĞŶŐĞŵďĂŶŐĂŶdĞŬŶŽůŽŐŝ/ŶĨŽƌŵĂƐŝ
dĞŬŶŽůŽŐŝ ŝŶĨŽƌŵĂƐŝ ďĞƌƉĞƌĂŶ ƉĞŶƚŝŶŐ ĚĂůĂŵ ƵƉĂLJĂ ŵĞŵƉĞƌƚĂŚĂŶŬĂŶ ƉŽƐŝƐŝ WĞƌƐĞƌŽĂŶ LJĂŶŐ ŬŽŵƉĞƚŝƚŝĨ
ĚŝƚĞŶŐĂŚŝŶĚƵƐƚƌŝ ƉĞŵďŝĂLJĂĂŶ͘KůĞŚŬĂƌĞŶĂ ŝƚƵ͕ WĞƌƐĞƌŽĂŶƐĞĐĂƌĂďĞƌŬĞƐŝŶĂŵďƵŶŐĂŶŵĞŵƉĞƌďĂƌƵŝ ĚĂŶ
ŵĞŶLJĞŵƉƵƌŶĂŬĂŶĂƉůŝŬĂƐŝŽƉĞƌĂƐŝŽŶĂůLJĂŶŐƚĞƌƐĞĚŝĂŐƵŶĂŵĞŵĂƐƚŝŬĂŶŬĞĂŵĂŶĂŶĚĂƚĂ͕ŬĞĂŶĚĂůĂŶĚĂƚĂ͕
119
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ŬĞĂŶĚĂůĂŶƐŝƐƚĞŵĚĂŶŵĞŶŐĂŬŽŵŽĚĂƐŝŬĞďƵƚƵŚĂŶƐŝƐƚĞŵŝŶĨŽƌŵĂƐŝLJĂŶŐƐĞŵĂŬŝŶŬŽŵƉůĞŬƐƐĞŝƌŝŶŐĚĞŶŐĂŶ
ƉĞƌŬĞŵďĂŶŐĂŶďŝƐŶŝƐWĞƌƐĞƌŽĂŶ͘
ϲ͘ WĞŶŐĞŵďĂŶŐĂŶ^ƵŵďĞƌĂLJĂDĂŶƵƐŝĂ
WĞƌƐĞƌŽĂŶŵĞLJĂŬŝŶŝďĂŚǁĂƉĞŶŐĞůŽůĂĂŶ^ƵŵďĞƌĂLJĂDĂŶƵƐŝĂ;^DͿLJĂŶŐƚĞƌŬŽŽƌĚŝŶĂƐŝĚĞŶŐĂŶďĂŝŬĚĂƉĂƚ
ŵĞŶĚƵŬƵŶŐƉĞŶĐĂƉĂŝĂŶƚƵũƵĂŶƉĞƌƵƐĂŚĂĂŶ͘DĞŵŝůŝŬŝ^DLJĂŶŐĂŶĚĂů͕ůŽLJĂůĚĂŶďĞƌŬŽŵƉĞƚĞŶŵĞƌƵƉĂŬĂŶ
ŵŽĚĂůƵƚĂŵĂWĞƌƐĞƌŽĂŶŐƵŶĂŵĞƌĂŝŚǀŝƐŝ͕ŵŝƐŝĚĂŶŬĞƐƵŬƐĞƐĂŶƵƐĂŚĂLJĂŶŐďĞƌŬĞůĂŶũƵƚĂŶ͘
ĞƌĚĂƐĂƌŬĂŶƌŝůŝƐĚĂƚĂƌĞƐŵŝLJĂŶŐĚŝƉƵďůŝŬĂƐŝŬĂŶK:<;ƐƵŵďĞƌ͗^ƚĂƚŝƐƚŝŬ>ĞŵďĂŐĂWĞŵďŝĂLJĂĂŶWĞƌŝŽĚĞĞƐĞŵďĞƌ
ϮϬϮϰͿ͕ ƚŽƚĂů ĂƐĞƚ ŝŶĚƵƐƚƌŝ ƉĞŵďŝĂLJĂĂŶ ŶĂƐŝŽŶĂů ƵŶƚƵŬ ƚĂŚƵŶ LJĂŶŐ ďĞƌĂŬŚŝƌ ƉĂĚĂ ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ ƚĞƌĐĂƚĂƚ
ƐĞďĞƐĂƌZƉϱϴϴ͕ϵϰƚƌŝůŝƵŶ͘dŽƚĂůĂƐĞƚWĞƌƐĞƌŽĂŶƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂϯϭĞƐĞŵďĞƌϮϬϮϰĚŝďƵŬƵŬĂŶ
ƐĞďĞƐĂƌZƉϭϲ͕ϳϯƚƌŝůŝƵŶ͘:ŝŬĂĚŝůĂŬƵŬĂŶƉĞƌďĂŶĚŝŶŐĂŶĂŶƚĂƌĂƚŽƚĂůĂƐĞƚWĞƌƐĞƌŽĂŶƚĞƌŚĂĚĂƉƌĂƚĂͲƌĂƚĂƚŽƚĂůĂƐĞƚ
ŝŶĚƵƐƚƌŝƉĞŵďŝĂLJĂĂŶŶĂƐŝŽŶĂůŵĂŬĂƚĞƌůŝŚĂƚďĂŚǁĂƉĂŶŐƐĂƉĂƐĂƌWĞƌƐĞƌŽĂŶĚŝƚĂŚƵŶϮϬϮϰĂĚĂůĂŚϮ͕ϴϰй͘
<K> <d/>/d^W/hdE'
^ĞůĂŵĂƚĂŚƵŶϮϬϮϰ͕WĞƌƐĞƌŽĂŶďĞƌŚĂƐŝůŵĞŶũĂŐĂŬƵĂůŝƚĂƐƉĞŶŐĞůŽůĂĂŶƉŝƵƚĂŶŐĚĞŶŐĂŶŵĞŵďƵŬƵŬĂŶĂŶŐŬĂEŽŶ
WĞƌĨŽƌŵŝŶŐ&ŝŶĂŶĐŝŶŐ;EW&Ϳ –ŐƌŽƐƐƐĞďĞƐĂƌϬ͕ϴϳйLJĂŶŐďĞƌĂĚĂũĂƵŚĚŝďĂǁĂŚƌĂƚĂͲƌĂƚĂEW&ŝŶĚƵƐƚƌŝƐĞďĞƐĂƌ
Ϯ͕ϳϬйƐĞƌƚĂũĂƵŚĚŝďĂǁĂŚŬĞƚĞŶƚƵĂŶŵĂŬƐŝŵƵŵEW&ďĞƌĚĂƐĂƌŬĂŶŬĞƚĞŶƚƵĂŶK:<LJĂŝƚƵϱй͘
ĞƌŝŬƵƚĂĚĂůĂŚƚĂďĞůƌĂƐŝŽƉŝƵƚĂŶŐďĞƌŵĂƐĂůĂŚ;EW&Ϳ
ϯϭĞƐĞŵďĞƌ
hZ/E
ϮϬϮϰ ϮϬϮϯ
ZĂƐŝŽEŽŶͲWĞƌĨŽƌŵŝŶŐ&ŝŶĂŶĐĞ Ϭ͕ϴϳй Ϭ͕ϴϯй
WĞƌƐĞƌŽĂŶŵĞŵƉƌŝŽƌŝƚĂƐŬĂŶƉĞƌƚƵŵďƵŚĂŶLJĂŶŐƐĞŚĂƚĚĂůĂŵďŝƐŶŝƐŶLJĂ͕ŽůĞŚŬĂƌĞŶĂŶLJĂWĞƌƐĞƌŽĂŶďĞƌŬŽŵŝƚŵĞŶ
ƵŶƚƵŬ ƚĞƌƵƐ ŵĞŶũĂŐĂ ŬƵĂůŝƚĂƐ ĂƐĞƚ͕ ŝŶƚĞŶƐŝĨŝŬĂƐŝ ƉĞŶĂŐŝŚĂŶ ĚĂŶ ŵĞŶŐƵƚĂŵĂŬĂŶ ĂƐĞƚ ďĞƌŬƵĂůŝƚĂƐ ďĂŝŬ ĚĂůĂŵ
ŵĞŶĐĂƉĂŝƚĂƌŐĞƚ͘hŶƚƵŬŵĞŶũĂŐĂƌĂƐŝŽƉŝƵƚĂŶŐďĞƌŵĂƐĂůĂŚ;EW&Ϳ͕WĞƌƐĞƌŽĂŶŵĞŶĞƌĂƉŬĂŶƉƌŝŶƐŝƉŬĞŚĂƚŝͲŚĂƚŝĂŶ
ĚĞŶŐĂŶ ŵĞŵƉĞƌŬĞƚĂƚ ƵŶĚĞƌǁƌŝƚŝŶŐ ƉƌŽĐĞƐƐ͕ ůĞďŝŚ ƐĞůĞŬƚŝĨ ĚĂůĂŵ ŵĞŵďĞƌŝŬĂŶ ƉĞŵďŝĂLJĂĂŶ͕ ŵŝƐĂůŶLJĂ
ŵĞŵƉƌŝŽƌŝƚĂƐŬĂŶ ƉĞůĂŶŐŐĂŶ ƌĞƉĞĂƚ ŽƌĚĞƌ LJĂŶŐ ƐƵĚĂŚ ŵĞŵŝůŝŬŝ ƌĞŬĂŵ ũĞũĂŬ LJĂŶŐ ďĂŝŬ͕ ŵĞŶŐŽƉƚŝŵĂůŬĂŶ
ƉĞŵĂŶĨĂĂƚĂŶƚĞŬŶŽůŽŐŝ͕ƐĞƌƚĂƉĞŶLJĞůĞƐĂŝĂŶĂŐƵŶĂŶLJĂŶŐĚŝĂŵďŝůĂůŝŚƐĞďĂŐĂŝƚƵũƵĂŶƉĞŶŐĞůŽůĂĂŶŬƵĂůŝƚĂƐĂƐĞƚ
ĚĂŶƉĞŶŝŶŐŬĂƚĂŶƉƌŽĨŝƚĂďŝůŝƚĂƐ͘
:Z/E'E<EdKZE'E<EdKZ^ >/E<EdKZE'
<ĞŐŝĂƚĂŶ ƵƐĂŚĂ WĞƌƐĞƌŽĂŶ ƐĂŶŐĂƚ ĚŝƚƵŶũĂŶŐ ŽůĞŚ ůƵĂƐŶLJĂ ũĂƌŝŶŐĂŶ ƉĞůĂLJĂŶĂŶ ĚĂŶ ƉĞŵĂƐĂƌĂŶ ƉƌŽĚƵŬͲƉƌŽĚƵŬ
WĞƌƐĞƌŽĂŶ͘ WĂĚĂ ƚĂŶŐŐĂů ϯϭ ĞƐĞŵďĞƌ ϮϬϮϰ͕ WĞƌƐĞƌŽĂŶ ŵĞŵŝůŝŬŝ ũĂƌŝŶŐĂŶ ŽƉĞƌĂƐŝŽŶĂů ŵĞůĂůƵŝ ϮϭϬ <ĂŶƚŽƌ
ĂďĂŶŐ͕ϯϲ<ĂŶƚŽƌ^ĞůĂŝŶ<ĂŶƚŽƌĂďĂŶŐ;<^<ͿĚĂŶϴhŶŝƚ^LJĂƌŝĂŚ͘
:ƵŵůĂŚŬĂŶƚŽƌĐĂďĂŶŐĚĂŶ<^<LJĂŶŐĚĞŵŝŬŝĂŶďĂŶLJĂŬĚĂŶŵĞŶLJĞďĂƌĚŝƐĞůƵƌƵŚǁŝůĂLJĂŚ/ŶĚŽŶĞƐŝĂŵĞƌƵƉĂŬĂŶ
ƐĂůĂŚƐĂƚƵŬĞƵŶŐŐƵůĂŶŬŽŵƉĞƚŝƚŝĨWĞƌƐĞƌŽĂŶ͘ĞŶŐĂŶũĂƌŝŶŐĂŶƉĞůĂLJĂŶĂŶLJĂŶŐďĞŐŝƚƵůƵĂƐ͕WĞƌƐĞƌŽĂŶŵĂŵƉƵ
ŵĞůĂLJĂŶŝŶĂƐĂďĂŚĚĂƌŝďĞƌďĂŐĂŝŐŽůŽŶŐĂŶƉƌŽĨĞƐŝĚĂŶƉĞŶĚĂƉĂƚĂŶ͕LJĂŶŐƐĞĐĂƌĂůĂŶŐƐƵŶŐũƵŐĂŵĞŶŐƵƌĂŶŐŝƌŝƐŝŬŽ
ƉĞŵďŝĂLJĂĂŶŵĞůĂůƵŝĚŝǀĞƌƐŝĨŝŬĂƐŝŬƌĞĚŝƚ͘
ŝƐĞƚŝĂƉĐĂďĂŶŐ͕WĞƌƐĞƌŽĂŶĚŝĚƵŬƵŶŐŽůĞŚƐƵŵďĞƌĚĂLJĂŵĂŶƵƐŝĂLJĂŶŐƉƌŽĨĞƐŝŽŶĂů͕LJĂŶŐŵĞƌƵƉĂŬĂŶƐĂůĂŚƐĂƚƵ
ƉŝůĂƌƵƚĂŵĂWĞƌƐĞƌŽĂŶ͘^ƚƌƵŬƚƵƌŽƌŐĂŶŝƐĂƐŝŬĂŶƚŽƌĐĂďĂŶŐĚŝƉŝŵƉŝŶŽůĞŚƐĞŽƌĂŶŐŬĞƉĂůĂĐĂďĂŶŐĚĂŶĚŝĚƵŬƵŶŐ
ŽůĞŚ ƚĞŶĂŐĂ LJĂŶŐ ŵĞŶũĂůĂŶŬĂŶ ĨƵŶŐƐŝ ŬƌĞĚŝƚ͕ ƉĞŶĂŶŐĂŶĂŶ ƉŝƵƚĂŶŐ͕ ŬƌĞĚŝƚ ďĞƌŵĂƐĂůĂŚ͕ ƉĞŶũƵĂůĂŶ ĂƐĞƚ LJĂŶŐ
ĚŝŬƵĂƐĂŝĚĂŶĂĚŵŝŶŝƐƚƌĂƐŝĂŬƵŶƚĂŶƐŝŬĞƵĂŶŐĂŶ͘ĞďĞƌĂƉĂŬĂŶƚŽƌĐĂďĂŶŐWĞƌƐĞƌŽĂŶƚĞƌŚƵďƵŶŐĚĞŶŐĂŶũĂƌŝŶŐĂŶ
ƐŝƐƚĞŵ ŽŶůŝŶĞ WĞƌƐĞƌŽĂŶ ŬĞ <ĂŶƚŽƌ WƵƐĂƚ ŵĞůĂůƵŝ ǀŝƌƚƵĂů ƉƌŝǀĂƚĞ ŶĞƚǁŽƌŬ ;sWEͿ͘ WĂĚĂ ƐĂĂƚ ŝŶŝ <ĂŶƚŽƌ WƵƐĂƚ
WĞƌƐĞƌŽĂŶ ďĞƌůŽŬĂƐŝ Ěŝ /ŶĚŽŵŽďŝů dŽǁĞƌ >ĂŶƚĂŝ ϴ͕ :ů͘ Dd͘ ,ĂƌLJŽŶŽ <Ăǀ͘ ϭϭ͕ :ĂŬĂƌƚĂ dŝŵƵƌ͕ LJĂŶŐ ĚŝŵŝůŝŬŝ ŽůĞŚ
Wd/ŶĚŽŵŽďŝů^ƵŬƐĞƐ/ŶƚĞƌŶĂƐŝŽŶĂůdďŬ͘
ĞŶŐĂŶƐŝƐƚĞŵƚĞŬŶŽůŽŐŝŝŶĨŽƌŵĂƐŝLJĂŶŐƚĞƌŝŶƚĞŐƌĂƐŝ͕ŵĂŬĂƐĞƚŝĂƉƉĞƚƵŐĂƐLJĂŶŐďĞƌǁĞŶĂŶŐĚĂƌŝŵĂƐŝŶŐͲŵĂƐŝŶŐ
ĐĂďĂŶŐ ĚĂƉĂƚ ƐĞŐĞƌĂ ŵĞŶĚĂƉĂƚŬĂŶ ŝŶĨŽƌŵĂƐŝ ĚĂƚĂďĂƐĞ ŶĂƐĂďĂŚ͕ ƉŝƵƚĂŶŐ͕ ĚĂƚĂ ŬƌĞĚŝƚ ƚĞƌƚƵŶŐŐĂŬ ;ŽǀĞƌĚƵĞͿ͕
ŵĂƵƉƵŶŵĞŵƉƌŽƐĞƐĂƉůŝŬĂƐŝŬƌĞĚŝƚĚĂŶŵĞŶĚĂƉĂƚŬĂŶƉĞƌƐĞƚƵũƵĂŶĂƉůŝŬĂƐŝŬƌĞĚŝƚĚĂůĂŵƚĞŵƉŽLJĂŶŐƐŝŶŐŬĂƚ͘
WZK^W <h^,W Z^ ZKE
ĞďĞƌĂƉĂ ůĞŵďĂŐĂ ŬĞƵĂŶŐĂŶ ŝŶƚĞƌŶĂƐŝŽŶĂů ŵĞŵƉƌŽLJĞŬƐŝŬĂŶ ďĂŚǁĂ ƉĞƌƚƵŵďƵŚĂŶ ĞŬŽŶŽŵŝ /ŶĚŽŶĞƐŝĂ ƚĂŚƵŶ
ϮϬϮϱŵĂƐŝŚƚĞƚĂƉƐƚĂďŝůĚŝŬŝƐĂƌĂŶϱй͕ůĞďŝŚƚŝŶŐŐŝĚĂƌŝƉƌŽLJĞŬƐŝƉĞƌƚƵŵďƵŚĂŶĞŬŽŶŽŵŝŐůŽďĂůLJĂŶŐŵĞŶĐĂƉĂŝ
120
Page 141
PT INDOMOBIL FINANCE INDONESIA
ϯ͕Ϯй͘ ĞďĞƌĂƉĂ ůĞŵďĂŐĂ ŬĞƵĂŶŐĂŶ ƚĞƌƐĞďƵƚ ĂŶƚĂƌĂ ůĂŝŶ tŽƌůĚ ĂŶŬ ĚĂŶ /ŶƚĞƌŶĂƚŝŽŶĂů DŽŶĞƚĂƌLJ &ƵŶĚ ;/D&Ϳ
ƐĞďĞƐĂƌϱ͕ϭй͕ƐŝĂŶĞǀĞůŽƉŵĞŶƚĂŶŬ;ͿƐĞďĞƐĂƌϱ͕ϬйƐĞƌƚĂKƌŐĂŶŝƐĂƚŝŽŶĨŽƌ ĐŽŶŽŵŝĐŽŽƉĞƌĂƚŝŽŶĂŶĚ
ĞǀĞůŽƉŵĞŶƚ ;K Ϳ ƐĞďĞƐĂƌ ϱ͕Ϯй͘ ĚĂƉƵŶ WĞŵĞƌŝŶƚĂŚ /ŶĚŽŶĞƐŝĂ ƚĞůĂŚ ŵĞŶĞƚĂƉŬĂŶ ƚĂƌŐĞƚ ƉĞƌƚƵŵďƵŚĂŶ
ĞŬŽŶŽŵŝ/ŶĚŽŶĞƐŝĂƚĂŚƵŶϮϬϮϱƐĞďĞƐĂƌϱ͕Ϯй͘
ĞƌĚĂƐĂƌŬĂŶĚĂƚĂLJĂŶŐĚŝƌŝůŝƐŽůĞŚĂĚĂŶWƵƐĂƚ^ƚĂƚŝƐƚŝŬ;W^Ϳ͕ƉĂĚĂDĂƌĞƚϮϬϮϱƚŝŶŐŬĂƚŝŶĨůĂƐŝzĞĂƌͲŽŶͲzĞĂƌ;LJͲ
ŽŶͲLJͿƐĞďĞƐĂƌϭ͕Ϭϯй͕ƐĞĚĂŶŐŬĂŶƚŝŶŐŬĂƚŝŶĨůĂƐŝŵŽŶƚŚƚŽŵŽŶƚŚ;ŵͲƚŽͲŵͿDĂƌĞƚϮϬϮϱƐĞďĞƐĂƌϭ͕ϲϱйĚĂŶƚŝŶŐŬĂƚ
ŝŶĨůĂƐŝLJĞĂƌƚŽĚĂƚĞ;LJͲƚŽͲĚͿDĂƌĞƚϮϬϮϱƐĞďĞƐĂƌϬ͕ϯϵй͘
ƐŽƐŝĂƐŝWĞƌƵƐĂŚĂĂŶWĞŵďŝĂLJĂĂŶ/ŶĚŽŶĞƐŝĂ;WW/ͿŵĞŵƉƌŽLJĞŬƐŝŬĂŶƉŝƵƚĂŶŐƉĞŵďŝĂLJĂĂŶŝŶĚƵƐƚƌŝŵƵůƚŝĨŝŶĂŶĐĞ
ĚŝƚĂƌŐĞƚŬĂŶƚƵŵďƵŚƐĞďĞƐĂƌϳйͲϴйƉĂĚĂƚĂŚƵŶϮϬϮϱ͘WƌŽLJĞŬƐŝŝƚƵƚĞƌďŝůĂŶŐŵĞŶƵƌƵŶĚĂƌŝƉƌŽLJĞŬƐŝƐĞďĞůƵŵŶLJĂ
LJĂŶŐ ƚƵŵďƵŚ ƐĞďĞƐĂƌ ϴйͲϭϬй ƉĂĚĂ ϮϬϮϱ͘ ^ĞůĂŝŶ ŝƚƵ͕ 'ĂďƵŶŐĂŶ /ŶĚƵƐƚƌŝ <ĞŶĚĂƌĂĂŶ ĞƌŵŽƚŽƌ /ŶĚŽŶĞƐŝĂ
;'ĂŝŬŝŶĚŽͿũƵŐĂŵĞŵƉƌŽLJĞŬƐŝŬĂŶĚŝƚĂŚƵŶϮϬϮϱƉĞŶũƵĂůĂŶŵŽďŝůďĂƌƵĚĂƉĂƚĚŝďƵŬƵŬĂŶƉĂĚĂĂŶŐŬĂϵϬϬƌŝďƵƵŶŝƚ͘
ĞƌĚĂƐĂƌŬĂŶĚĂƚĂƚĞƌŬŝŶŝ'/</EKĚĂůĂŵƉĞƌŝŽĚĞ:ĂŶƵĂƌŝŚŝŶŐŐĂ&ĞďƌƵĂƌŝϮϬϮϱƚŽƚĂůƉĞŶũƵĂůĂŶŵŽďŝůƐĞĐĂƌĂ
ǁŚŽůĞƐĂůĞƐĚŝ/ŶĚŽŶĞƐŝĂŵĞŶĐĂƉĂŝϭϯϰ͘ϮϮϳƵŶŝƚ͘'/</EKŵĞŵƉƌĞĚŝŬƐŝďĂŚǁĂƉĞŶũƵĂůĂŶŵŽďŝůĂŬĂŶŵĞŵďĂŝŬ
ƐĞƚĞůĂŚ >ĞďĂƌĂŶ͘ ƐŽƐŝĂƐŝ /ŶĚƵƐƚƌŝ ^ĞƉĞĚĂ DŽƚŽƌ /ŶĚŽŶĞƐŝĂ ;/^/Ϳ ŵĞŵƉƌŽLJĞŬƐŝŬĂŶ ƉĞŶũƵĂůĂŶ ƐĞƉĞĚĂ ŵŽƚŽƌ
ĚŝƉĂƐĂƌĚŽŵĞƐƚŝŬĚĂƉĂƚŵĞŶĐĂƉĂŝϲ͕ϰͲϲ͕ϳũƵƚĂƵŶŝƚƉĂĚĂƚĂŚƵŶϮϬϮϱ͘/^/ŵĞůĂƉŽƌŬĂŶďĂŚǁĂƉĞŶũƵĂůĂŶƐĞƉĞĚĂ
ŵŽƚŽƌĚŽŵĞƐƚŝŬŵĞŶĐĂƉĂŝϭ͘ϭϰϭ͘ϱϳϴƵŶŝƚĚĂůĂŵĚƵĂďƵůĂŶƉĞƌƚĂŵĂƚĂŚƵŶϮϬϮϱ͘
ĞŶŐĂŶƚƌĞŶƉĞŶũƵĂůĂŶŽƚŽŵŽƚŝĨLJĂŶŐĚŝƉƌĞĚŝŬƐŝĂŬĂŶƚƵŵďƵŚ͕ĚŝŝŬƵƚŝŽůĞŚƉƌŽLJĞŬƐŝŝŶĚƵƐƚƌŝƉĞŵďŝĂLJĂĂŶLJĂŶŐ
ƉŽƐŝƚŝĨ͕ ƉĞƌƵƐĂŚĂĂŶ ƉĞŵďŝĂLJĂĂŶ ĚŝŚĂƌĂƉŬĂŶ ŵĂŵƉƵ ŵĞŶũĂŐĂ ƉĞƌĨŽƌŵĂ ďŝƐŶŝƐ ĚĂŶ ŽƉĞƌĂƐŝŽŶĂů ĚĂůĂŵ
ŵĞŶŐŚĂĚĂƉŝƚĂŶƚĂŶŐĂŶĚŝƚĂŚƵŶϮϬϮϱ͘
ŝ ƚĂŚƵŶ ϮϬϮϱ͕ WĞƌƐĞƌŽĂŶ ĂŬĂŶ ƚĞƌƵƐ ŵĞŶũĂŐĂ ŬŽŵŝƚŵĞŶŶLJĂ ƵŶƚƵŬ ŵĞŶũĂĚŝ ƉĞƌƵƐĂŚĂĂŶ ƉĞŵďŝĂLJĂĂŶ LJĂŶŐ
ŵĂŵƉƵ ŵĞŶŐŚĂĚŝƌŬĂŶ ƐŽůƵƐŝ ĨŝŶĂŶƐŝĂů ƵŶƚƵŬ ŵĞǁƵũƵĚŬĂŶ ŬĞďƵƚƵŚĂŶ ĨŝŶĂŶƐŝĂů ŶĂƐĂďĂŚ Ěŝ ƐĞůƵƌƵŚ /ŶĚŽŶĞƐŝĂ
ĚĞŶŐĂŶĚŝĚƵŬƵŶŐŽůĞŚƐĞŵĂŶŐĂƚƵŶƚƵŬŵĞŵďĞƌŝŬĂŶLJĂŶŐƚĞƌďĂŝŬ͘^ĞƐƵĂŝĚĞŶŐĂŶŬĞďŝũĂŬĂŶƐƚƌĂƚĞŐŝƐLJĂŶŐƚĞůĂŚ
ĚŝƐƵƐƵŶ͕ WĞƌƐĞƌŽĂŶ ĂŬĂŶ ĨŽŬƵƐ ŵĞŶŐĞũĂƌ ƉĞƌƚƵŵďƵŚĂŶ LJĂŶŐ ďĞƌŬƵĂůŝƚĂƐ͘ WĞƌƐĞƌŽĂŶ ƐĞďĂŐĂŝ ƉĞƌƵƐĂŚĂĂŶ
ƉĞŵďŝĂLJĂĂŶ ŬŽŶƐŝƐƚĞŶ ŵĞůĂŬƵŬĂŶ ŝŶŽǀĂƐŝ ĚĂůĂŵ ŵĞŶŐĞŵďĂŶŐŬĂŶ ďĞƌĂŐĂŵ ƉƌŽĚƵŬ ƉĞŵďŝĂLJĂĂŶ ƵŶƚƵŬ
ŵĞŶŐŐĂƌĂƉ ƉĂƐĂƌ ƉĞŵďŝĂLJĂĂŶ ďĂƌƵ LJĂŶŐ ƉŽƚĞŶƐŝĂů͕ ŶĂŵƵŶ ƚĞƚĂƉ ĨŽŬƵƐ ƉĂĚĂ ƉĞŵďŝĂLJĂĂŶ ƚĞƌŬĂŝƚ ŝŶĚƵƐƚƌŝ
ŽƚŽŵŽƚŝĨ͘WĞƌƐĞƌŽĂŶũƵŐĂŵĞŶĂƌŐĞƚŬĂŶĚŝǀĞƌƐŝĨŝŬĂƐŝ ƉƌŽĚƵŬƉĞŵďŝĂLJĂĂŶĚĞŶŐĂŶƚƵũƵĂŶŵĞŵŝƚŝŐĂƐŝƌŝƐŝŬŽĚĂŶ
ŵĞŶŐĂŶƚŝƐŝƉĂƐŝĨůƵŬƚƵĂƐŝƉĞƌŵŝŶƚĂĂŶƉĂĚĂƐĞŐŵĞŶƉĞŵďŝĂLJĂĂŶƚĞƌƚĞŶƚƵ͘
WĞƌƐĞƌŽĂŶ ďĞƌŬŽŵŝƚŵĞŶ ƵŶƚƵŬ ƐĞůĂůƵ ďĞƌĂĚĂƉƚĂƐŝ ĚĞŶŐĂŶ ĚŝŶĂŵŝŬĂ ƉĂƐĂƌ͕ ƚĞƌƵƐ ŵĞŶũĂŐĂ ŬƵĂůŝƚĂƐ ĂƐĞƚ͕
ŝŶƚĞŶƐŝĨŝŬĂƐŝ ƉĞŶŐƵŵƉƵůĂŶ ĚĂŶ ŵĞŶŐƵƚĂŵĂŬĂŶ ĂƐĞƚ ďĞƌŬƵĂůŝƚĂƐ ďĂŝŬ ĚĂůĂŵ ŵĞŶĐĂƉĂŝ ƚĂƌŐĞƚ͘ WĂĚĂ ĂƐƉĞŬ
ƉĞŵĂƐĂƌĂŶ͕WĞƌƐĞƌŽĂŶŵĞŶŐĞŵďĂŶŐŬĂŶƉƌŽŐƌĂŵƉĞŵĂƐĂƌĂŶ͕ŵĞŵďƵĂƚƐĂůƵƌĂŶͬũĂƌŝŶŐĂŶďŝƐŶŝƐĚĞŶŐĂŶĚĞĂůĞƌ
ůĂŵĂĚĂŶďĂƌƵĂƚĂƵŵĞƌĞŬůĂŝŶ͕ƐĞƌƚĂŵĞŶŝŶŐŬĂƚŬĂŶŬĞƚĞƌůŝďĂƚĂŶƉĞůĂŶŐŐĂŶŵĞůĂůƵŝƐĂůƵƌĂŶĚŝŐŝƚĂů͘WĞƌƐĞƌŽĂŶ
ĂŬĂŶŵĞŶŐŐĂƌĂƉƉĞůƵĂŶŐďŝƐŶŝƐLJĂŶŐĚŝŶŝůĂŝŵĂŵƉƵŵĞŶŝŶŐŬĂƚŬĂŶƉĞŶũƵĂůĂŶ͕ƐĞƉĞƌƚŝƉĞŶLJĞĚŝĂĂŶƉƌŽĚƵŬďĂƌƵ
ĚĂŶŽƉƚŝŵĂůŝƐĂƐŝƉĞŶĂǁĂƌĂŶƉĞŵĂƐĂƌĂŶĚŝŬĂŶƚŽƌĐĂďĂŶŐ͘
DE: D EZ/^/<K
DĂŶĂũĞŵĞŶ ZŝƐŝŬŽ ĂĚĂůĂŚ ƐĞƌĂŶŐŬĂŝĂŶ ƉƌŽƐĞĚƵƌ ĚĂŶ ŵĞƚŽĚŽůŽŐŝ LJĂŶŐ ĚŝŐƵŶĂŬĂŶ ƵŶƚƵŬ ŵĞŶŐŝĚĞŶƚŝĨŝŬĂƐŝ͕
ŵĞŶŐƵŬƵƌ͕ ŵĞŶŐĞŶĚĂůŝŬĂŶ ĚĂŶ ŵĞŵĂŶƚĂƵ ƌŝƐŝŬŽ͘ DĂŶĂũĞŵĞŶ ƌŝƐŝŬŽ ŵĞƌƵƉĂŬĂŶ ŬĞŐŝĂƚĂŶ ƵŶƚƵŬ ƉĞŶŐĞůŽůĂĂŶ
ƌŝƐŝŬŽ ĂƚĂƐ ŬĞƚŝĚĂŬƉĂƐƚŝĂŶ͕ ĂŶĐĂŵĂŶ ƐĞƌƚĂ ŵĞŵĂƐƚŝŬĂŶ ďĂŚǁĂ ŬĂƌLJĂǁĂŶ ďĞƌƚŝŶĚĂŬ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞďŝũĂŬĂŶ
ŵĂŶĂũĞŵĞŶƌŝƐŝŬŽLJĂŶŐƚĞůĂŚĚŝƚĞƚĂƉŬĂŶ͘
ĂůĂŵ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ WĞƌƐĞƌŽĂŶ ƚĞƌĚĂƉĂƚ ďĞƌďĂŐĂŝ ƌŝƐŝŬŽ LJĂŶŐ ƚŝĚĂŬ ƚĞƌŚŝŶĚĂƌŬĂŶ͕ ƐĞďĂŐĂŝŵĂŶĂ ĚŝƵƌĂŝŬĂŶ
ĚŝďĂǁĂŚŝŶŝ͗
͘ ZŝƐŝŬŽhƚĂŵĂzĂŶŐDĞŵƉƵŶLJĂŝWĞŶŐĂƌƵŚ^ŝŐŶŝĨŝŬĂŶdĞƌŚĂĚĂƉ<ĞůĂŶŐƐƵŶŐĂŶhƐĂŚĂWĞƌƐĞƌŽĂŶ
ZŝƐŝŬŽWĞŵďŝĂLJĂĂŶ;<ƌĞĚŝƚͿ
ZŝƐŝŬŽ ŬƌĞĚŝƚ ĚŝŬĞůŽůĂ ŽůĞŚ WĞƌƵƐĂŚĂĂŶ ĚĞŶŐĂŶ ŵĞŶĞƌĂƉŬĂŶ ƉƌŝŶƐŝƉ ŬĞŚĂƚŝͲŚĂƚŝĂŶ ĚĂůĂŵ ƉĞŶLJĂůƵƌĂŶ
ƉĞŵďŝĂLJĂĂŶ LJĂŝƚƵ ďĞƌĚĂƐĂƌŬĂŶ ƉƌŝŶƐŝƉ ϱ ;ĐŚĂƌĂĐƚĞƌ͕ ĐĂƉĂĐŝƚLJ͕ ĐĂƉŝƚĂů͕ ĐŽŶĚŝƚŝŽŶ͕ ĐŽůůĂƚĞƌĂůͿ͕ ƐĞƌƚĂ
WĞƌƵƐĂŚĂĂŶŵĞŶĞƌĂƉŬĂŶůĞǀĞůŽƚŽƌŝƐĂƐŝďĞƌũĞŶũĂŶŐƵŶƚƵŬďĂƚĂƐƉĞŵďĞƌŝĂŶŬƌĞĚŝƚ͕ŵĞůĂŬƵŬĂŶĚŝǀĞƌƐŝĨŝŬĂƐŝ
ƉƌŽĚƵŬ ĚĂŶ ĂƌĞĂ ƉĞŵďŝĂLJĂĂŶ͘ WĞƌƵƐĂŚĂĂŶ ŵĞŵĂŶĨĂĂƚŬĂŶ ŝŶĨŽƌŵĂƐŝ ^>/< K:< ĚĂŶ >ĞŵďĂŐĂ WĞŶŐĞůŽůĂ
121
Page 142
PT INDOMOBIL FINANCE INDONESIA
/ŶĨŽƌŵĂƐŝ WĞƌŬƌĞĚŝƚĂŶ ;>W/WͿ ƵŶƚƵŬ ŵĞŶŐĞƚĂŚƵŝ ƌŝǁĂLJĂƚ ƉŝŶũĂŵĂŶ ĚĂƌŝ ĐĂůŽŶ ŬŽŶƐƵŵĞŶ͕ ƐĞůĂŝŶ ŝƚƵ
WĞƌƵƐĂŚĂĂŶ ũƵŐĂ ŵĞŶĞƌĂƉŬĂŶ ƐŝƐƚĞŵ ĐƌĞĚŝƚ ƐĐŽƌŝŶŐ ĚĂůĂŵ ƉĞŶŐĞůŽůĂĂŶ ƌŝƐŝŬŽ ŬƌĞĚŝƚ ĚĂŶ ŵĞŵĂŶĨĂĂƚŬĂŶ
^ŝƐƚĞŵ ƵŬĐĂƉŝů ƵŶƚƵŬ ƉĞŵĞƌŝŬƐĂĂŶ ĚĂƚĂ ŬĞƉĞŶĚƵĚƵŬĂŶ ĐĂůŽŶ ŬŽŶƐƵŵĞŶ͕ ũƵŐĂ ƚĞƌĚĂƉĂƚ ĨƵŶŐƐŝ ƌĞĚŝƚ
ŶĂůLJƐƚƐĞďĂŐĂŝďĂŐŝĂŶĚĂƌŝƉĞŶĞƌĂƉĂŶĨŽƵƌĞLJĞƐƉƌŝŶĐŝƉůĞƐĞƌƚĂŵĞŵĂŬƐŝŵĂůŬĂŶĨƵŶŐƐŝWĞŶĂŐŝŚĂŶĚĞŶŐĂŶ
ŵĞŵƉĞƌůƵĂƐ ũĂƌŝŶŐĂŶ ŵĞƚŽĚĞ ƉĞŵďĂLJĂƌĂŶ͘ WĞŶŐĞŶĚĂůŝĂŶ ƌŝƐŝŬŽ ŬƌĞĚŝƚ ĚŝůĂŬƵŬĂŶ ĚĞŶŐĂŶ ŵĞŶŐĂĐƵ ƉĂĚĂ
ƉĞĚŽŵĂŶ^ĞůĞƌĂZŝƐŝŬŽ͕dŽůĞƌĂŶƐŝZŝƐŝŬŽĚĂŶ>ŝŵŝƚZŝƐŝŬŽ;ZŝƐŬƉƉĞƚŝƚĞ͕dŽůĞƌĂŶĐĞĂŶĚ>ŝŵŝƚͿ͕ŬŽŶƐĞŶƚƌĂƐŝ
ŬƌĞĚŝƚ͕ ƉĞŶĐĂĚĂŶŐĂŶ ŬĞƌƵŐŝĂŶ ĚĂŶ ƉĞŶĂŶŐĂŶĂŶ ŬƌĞĚŝƚ ďĞƌŵĂƐĂůĂŚ͘ WĞŵĂŶƚĂƵĂŶ ƌŝƐŝŬŽ ũƵŐĂ ĚŝůĂŬƵŬĂŶ
ŵĞůĂůƵŝ ZŝƐŬ DĂŶĂŐĞŵĞŶƚ ZŝƐŝŬŽ ŽŵŵŝƚƚĞĞ ;ZDͿ ĚĂŶ <ŽŵŝƚĞ WĞŵĂŶƚĂƵ DĂŶĂũĞŵĞŶ ZŝƐŝŬŽ ;<WDZͿ͘
WĞƌƐĞƌŽĂŶ ŵĞůĂŬƵŬĂŶ ƐƚƌĞƐƐ ƚĞƐƚŝŶŐ ƵŶƚƵŬ ŵĞůĞŶŐŬĂƉŝ ƉĞŶĞƌĂƉĂŶ ƉĞŶŐƵŬƵƌĂŶ ƌŝƐŝŬŽ ĚĞŶŐĂŶ ĐĂƌĂ
ŵĞŶŐĞƐƚŝŵĂƐŝ ƉŽƚĞŶƐŝŬĞƌƵŐŝĂŶĞŬŽŶŽŵŝƐWĞƌƐĞƌŽĂŶƉĂĚĂŬŽŶĚŝƐŝƉĂƐĂƌLJĂŶŐƚŝĚĂŬŶŽƌŵĂůŐƵŶĂ ŵĞůŝŚĂƚ
ƐĞŶƐŝƚŝǀŝƚĂƐWĞƌƐĞƌŽĂŶƚĞƌŚĂĚĂƉƉĞƌƵďĂŚĂŶĨĂŬƚŽƌƌŝƐŝŬŽĚĂŶŵĞŶŐŝĚĞŶƚŝĨŝŬĂƐŝƉĞŶŐĂƌƵŚLJĂŶŐďĞƌĚĂŵƉĂŬ
ƐŝŐŶŝĨŝŬĂŶƚĞƌŚĂĚĂƉƉŽƌƚŽĨŽůŝŽWĞƌƐĞƌŽĂŶ͘
͘ ZŝƐŝŬŽhƐĂŚĂ
ϭ͘ ZŝƐŝŬŽ^ƚƌĂƚĞŐŝ
WĞƌƐĞƌŽĂŶ ŵĞŵďƵĂƚ ZĞŶĐĂŶĂ <ĞƌũĂ ĚĂŶ ŶŐŐĂƌĂŶ ĚĞŶŐĂŶ ŵĞŵƉĞƌƚŝŵďĂŶŐŬĂŶ ĨĂŬƚŽƌ ŝŶƚĞƌŶĂů ĚĂŶ
ĞŬƐƚĞƌŶĂůďŝƐŶŝƐWĞƌƵƐĂŚĂĂŶLJĂŝƚƵ͗
• sŝƐŝ͕ŵŝƐŝĚĂŶĂƌĂŚďŝƐŶŝƐLJĂŶŐŝŶŐŝŶĚŝĐĂƉĂŝWĞƌƵƐĂŚĂĂŶ͖
• <ƵůƚƵƌ ŽƌŐĂŶŝƐĂƐŝ ĚĂŶ ĨĂŬƚŽƌ ŬĞŵĂŵƉƵŶ ŽƌŐĂŶŝƐĂƐŝ LJĂŶŐ ŵĞŶĐĂŬƵƉ ĂŶƚĂƌĂ ůĂŝŶ ƐƵŵďĞƌ ĚĂLJĂ
ŵĂŶƵƐŝĂ͕ŝŶĨƌĂƐƚƌƵŬƚƵƌ͕ũĂƌŝŶŐĂŶŬĂŶƚŽƌ͕ĚĂŶƐŝƐƚĞŵŝŶĨŽƌŵĂƐŝŵĂŶĂũĞŵĞŶ
• <ŽŶĚŝƐŝŵĂŬƌŽĞŬŽŶŽŵŝ
• WĞƌŬĞŵďĂŶŐĂŶƚĞŬŶŽůŽŐŝ
• dŝŶŐŬĂƚƉĞƌƐĂŝŶŐĂŶƵƐĂŚĂ
• ^ƚƌĂƚĞŐŝĚĂŶƚĂƌŐĞƚLJĂŶŐĚŝƐƵƐƵŶĚŝƉĂŶƚĂƵƐĞĐĂƌĂďĞƌŬĂůĂŽůĞŚWĞƌƐĞƌŽĂŶ
Ϯ͘ ZŝƐŝŬŽKƉĞƌĂƐŝŽŶĂů
ZŝƐŝŬŽKƉĞƌĂƐŝŽŶĂůĚŝŬĞůŽůĂĚĞŶŐĂŶĂĚĂŶLJĂďĞƌďĂŐĂŝƵƉĂLJĂLJĂŶŐĚŝůĂŬƵŬĂŶŽůĞŚWĞƌƵƐĂŚĂĂŶĚŝĂŶƚĂƌĂŶLJĂ
ĚĂůĂŵŵĞŶũĂůĂŶŬĂŶŬĞŐŝĂƚĂŶŽƉĞƌĂƐŝŽŶĂůďŝƐŶŝƐŶLJĂ͕WĞƌƵƐĂŚĂĂŶƐĞŶĂŶƚŝĂƐĂďĞƌƉĞĚŽŵĂŶƉĂĚĂ^ƚĂŶĚĂƌĚ
KƉĞƌĂƚŝŶŐ WƌŽĐĞĚƵƌĞ ;^KWͿ LJĂŶŐ ĚŝƚŝŶũĂƵ ƐĞĐĂƌĂ ďĞƌŬĂůĂ ĚĂŶ ŵĞŵĂƐƚŝŬĂŶ ŬĞƉĂƚƵŚĂŶ ƚĞƌŚĂĚĂƉ ^KW
ƚĞƌƐĞďƵƚ͘ WĞƌƵƐĂŚĂĂŶ ŵĞŵŝůŝŬŝ ƵĚŝƚ /ŶƚĞƌŶĂů ƵŶƚƵŬ ŵĞŵĂƐƚŝŬĂŶ ŬĞĐƵŬƵƉĂŶ ^ŝƐƚĞŵ WĞŶŐĞŶĚĂůŝĂŶ
/ŶƚĞƌŶĂů ĚĂŶ tŚŝƐƚůĞďůŽǁŝŶŐ ^LJƐƚĞŵ ƐĞďĂŐĂŝ ŵĞŬĂŶŝƐŵĞ ƵŶƚƵŬ ŵĞůŝŶĚƵŶŐŝWĞƌƵƐĂŚĂĂŶ ĚĂƌŝ ďĞƌďĂŐĂŝ
ƚŝŶĚĂŬĂŶLJĂŶŐďĞƌƉŽƚĞŶƐŝŵĞŶŐŐĂŶŐŐƵƚĞƌĐĂƉĂŝŶLJĂƚƵũƵĂŶWĞƌƵƐĂŚĂĂŶ͘
ĂƌŝĂƐƉĞŬdĞŬŶŽůŽŐŝ/ŶĨŽƌŵĂƐŝƚĞƌĚĂƉĂƚŽƌĞ^LJƐƚĞŵ;ƐŝƐƚĞŵƵƚĂŵĂͿLJĂŶŐĚŝŬĞŵďĂŶŐŬĂŶƐĞĐĂƌĂŝŶŚŽƵƐĞ
ĚĞǀĞůŽƉŵĞŶƚŽůĞŚWĞƌƵƐĂŚĂĂŶ͘WĞŶĞƌĂƉĂŶdĞŬŶŽůŽŐŝ/ŶĨŽƌŵĂƐŝĚŝWĞƌƵƐĂŚĂĂŶďŝƐĂŵĞŶŐĂĚŽƉƐŝƌĞŐƵůĂƐŝ
ĚĂƌŝ K:< ĚĂŶ ŵĂŵƉƵ ŵĞŶŐŝŬƵƚŝ ƉĞƌŬĞŵďĂŶŐĂŶ /ŶĚƵƐƚƌŝ WĞƌƵƐĂŚĂĂŶ WĞŵďŝĂLJĂĂŶ͘ ^ĞŚŝŶŐŐĂ ƐĞƚŝĂƉ
ƉĞƌƵďĂŚĂŶ ĚĂŶ ƉĞŶLJĞƐƵĂŝĂŶ ƚĞƌŚĂĚĂƉ ŬĞďŝũĂŬĂŶ ĚĂƌŝ ŝŶƚĞƌŶĂů ĚĂŶ ĞŬƐƚĞƌŶĂů ƚĞƌƵƐ ĚŝůĂŬƵŬĂŶ ĚĞŶŐĂŶ
ůĂŶŐŬĂŚ ƉĞŶŐĞŵďĂŶŐĂŶ ĂƉůŝŬĂƐŝ LJĂŶŐ ƚĞƌĚŝƌŝ ĚĂƌŝ ŵƵůĂŝ ƉĞƌŵŝŶƚĂĂŶ ƵƐĞƌ͕ ƉƌŽƐĞƐ ƉĞƌĂŶĐĂŶŐĂŶ͕
ƉĞƌƐĞƚƵũƵĂŶƌĂŶĐĂŶŐĂŶ͕ƉĞŵďƵĂƚĂŶƉƌŽŐƌĂŵ͕ƚĞƐƚŝŶŐƐĂŵƉĂŝĚĞŶŐĂŶhd;hƐĞƌĐĐĞƉƚĂŶĐĞdĞƐƚͿĚĂŶ
ĚŝƉĂŬĂŝŶLJĂĂƉůŝŬĂƐŝƚĞƌƐĞďƵƚ͘<ĞƵŶŐŐƵůĂŶdĞŬŶŽůŽŐŝ/ŶĨŽƌŵĂƐŝĚŝWĞƌƵƐĂŚĂĂŶĂĚĂůĂŚĚĂƉĂƚĚŝĂŬƐĞƐƐĞĐĂƌĂ
ŽŶůŝŶĞ͕ĚŝŵĂŶĂĂƚĂĞŶƚĞƌƚĞƌƉƵƐĂƚĚĂŶĚŝĂŬƐĞƐŽůĞŚŝŶĨƌĂƐƚƌƵŬƚƵƌũĂƌŝŶŐĂŶŽŶůŝŶĞĚŝĐĂďĂŶŐͲĐĂďĂŶŐ͘
<ĞĂŵĂŶĂŶĂŬƐĞƐĚĂŶƐŝƐƚĞŵƐƵĚĂŚĚŝƚĞƌĂƉŬĂŶĚĞŶŐĂŶĂĚĂŶLJĂƉĞŵďĂŐŝĂŶĂŬƐĞƐƵƐĞƌĚŝĚĂůĂŵĂƉůŝŬĂƐŝ͕
ƉĞŵďĂƚĂƐĂŶĂŬƐĞƐŬĞĚĂƚĂďĂƐĞ͕ƉĞŶŐŐƵŶĂĂŶĨŝƌĞǁĂůů͕ĚĂŶƉĞŶŐŐƵŶĂĂŶƐŽĨƚǁĂƌĞĂŶƚŝǀŝƌƵƐĚŝĂƐĞƚͲĂƐĞƚ
ŬŽŵƉƵƚĞƌŵŝůŝŬWĞƌƵƐĂŚĂĂŶ͘
<ĞŵƵŶŐŬŝŶĂŶ ŚĂŵďĂƚĂŶ ĚĂŶ ŬĞŐĂŐĂůĂŶ ĚĂůĂŵ dĞŬŶŽůŽŐŝ ŝŶĨŽƌŵĂƐŝ͕ ĚĂƉĂƚ ĚŝĐĞŐĂŚ ĚĞŶŐĂŶ ƌƵƚŝŶŝƚĂƐ
ƉƌŽƐĞƐďĂĐŬƵƉĚĂƚĂĚĂŶƚĞƌƐĞĚŝĂŶLJĂZ͘
ϯ͘ ZŝƐŝŬŽWĂƐĂƌ
ZŝƐŝŬŽWĂƐĂƌĚĂƉĂƚĚŝŬĞůŽůĂĚĞŶŐĂŶŵĞůĂŬƵŬĂŶĚŝǀĞƌƐŝĨŝŬĂƐŝƉĞŶĚĂŶĂĂŶ͕ĚĂŶŵĞůĂŬƵŬĂŶůŝŶĚƵŶŐŶŝůĂŝ͘,Ăů
ƚĞƌƐĞďƵƚ ƚĞƌĐĞƌŵŝŶ ĚĂƌŝ ƌĂƐŝŽ ůŝĂďŝůŝƚĂƐ ĚĂůĂŵ ǀĂůƵƚĂ ĂƐŝŶŐ LJĂŶŐ ƚĞůĂŚ ĚŝůŝŶĚƵŶŐ ŶŝůĂŝ ĂƌƚŝŶLJĂ ƐĞůƵƌƵŚ
KƵƚƐƚĂŶĚŝŶŐ>ŝĂďŝůŝƚĂƐĚĂůĂŵsĂůƵƚĂƐŝŶŐƚĞůĂŚĚŝůĂŬƵŬĂŶůŝŶĚƵŶŐŶŝůĂŝ;ŚĞĚŐĞͿ͘:ĞŶŝƐͲũĞŶŝƐZŝƐŝŬŽƉĂƐĂƌ
ĂŶƚĂƌĂůĂŝŶƌŝƐŝŬŽƐƵŬƵďƵŶŐĂ͕ƌŝƐŝŬŽŶŝůĂŝƚƵŬĂƌ͕ƌŝƐŝŬŽŬŽŵŽĚŝƚĂƐ͕ĚĂŶƌŝƐŝŬŽĞŬƵŝƚĂƐ͘
122
Page 143
PT INDOMOBIL FINANCE INDONESIA
ϰ͘ ZŝƐŝŬŽ>ŝŬƵŝĚŝƚĂƐ
WĞƌƵƐĂŚĂĂŶ ƐĞŶĂŶƚŝĂƐĂ ŵĞůĂŬƵŬĂŶ ŵĂŶĂũĞŵĞŶ ĂƐĞƚ ĚĂŶ ůŝĂďŝůŝƚĂƐ͕ ƉƌŽLJĞŬƐŝ ĂƌƵƐ ŬĂƐ͕ ĚĂŶ ŵĞŶũĂŐĂ
ŬĞƚĞƌƐĞĚŝĂĂŶ ƐŝƐĂ ƉĂŐƵ ĨĂƐŝůŝƚĂƐ ƉŝŶũĂŵĂŶ͘ hŶƚƵŬ ŵĞŵƉĞƌŬĞĐŝů ƌŝƐŝŬŽ ůŝŬƵŝĚŝƚĂƐ͕ WĞƌƐĞƌŽĂŶ ƐĞůĂůƵ
ŵĞŵĞůŝŚĂƌĂ ŬĞĐƵŬƵƉĂŶ ƐĂůĚŽ ŬĂƐ ĚĂŶ ƐĞƚĂƌĂ ŬĂƐ LJĂŶŐ ŶŝůĂŝŶLJĂ ĚŝƐĞƐƵĂŝŬĂŶ ĚĂƌŝ ǁĂŬƚƵ ŬĞ ǁĂŬƚƵ ĚĂŶ
Ěŝ ƉĂŶƚĂƵ ƐĞĐĂƌĂ ďĞƌŬĂůĂ ďĂŝŬ ŚĂƌŝĂŶ͕ ŵŝŶŐŐƵĂŶ ĚĂŶ ďƵůĂŶĂŶ͘ ^ĞůĂŝŶ ŝƚƵ͕ WĞƌƐĞƌŽĂŶ ũƵŐĂ ŵĞŶũĂŐĂ
ŬĞĐƵŬƵƉĂŶĨĂƐŝůŝƚĂƐƉŝŶũĂŵĂŶLJĂŶŐĚĂƉĂƚĚŝƚĂƌŝŬƐĞǁĂŬƚƵͲǁĂŬƚƵ͕ƐĞƌƚĂďĞŬĞƌũĂƐĂŵĂĚĞŶŐĂŶƉĞŵĞŐĂŶŐ
ƐĂŚĂŵ ƵƚĂŵĂ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŵĞŶŐŐƵŶĂŬĂŶ ũĂƌŝŶŐĂŶ ƐƵŵďĞƌ ƉĞŶĚĂŶĂĂŶ LJĂŶŐ ĚŝŵŝůŝŬŝ͘ ^ĞůĂŝŶ ŝƚƵ
WĞƌƐĞƌŽĂŶŵĞůĂŬƵŬĂŶĚŝǀĞƌƐŝĨŝŬĂƐŝƐƵŵďĞƌƉĞŶĚĂŶĂĂŶLJĂŶŐƚĞƌĚŝƌŝĚĂƌŝƉŝŶũĂŵĂŶďĂŶŬďĂŝŬĚĂƌŝĚĂůĂŵ
ŶĞŐĞƌŝŵĂƵƉƵŶůƵĂƌŶĞŐĞƌŝ͕ƉĞŶĞƌďŝƚĂŶŽďůŝŐĂƐŝƐĞĐĂƌĂďĞƌŬĂůĂ͕ŬĞƌũĂƐĂŵĂƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂƐĞƌƚĂ
ĂƌƵƐŬĂƐŝŶƚĞƌŶĂůWĞƌƐĞƌŽĂŶ͘
ϱ͘ ZŝƐŝŬŽ,ƵŬƵŵ
ZŝƐŝŬŽ,ƵŬƵŵĚŝŬĞůŽůĂĚĞŶŐĂŶĂĚĂŶLJĂďĞƌďĂŐĂŝƵƉĂLJĂLJĂŶŐĚŝůĂŬƵŬĂŶŽůĞŚWĞƌƵƐĂŚĂĂŶ͕ƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
• WĞƌũĂŶũŝĂŶ ƉĞŵďŝĂLJĂĂŶ WĞƌƵƐĂŚĂĂŶ ƐƵĚĂŚ ƚĞƌƐƚĂŶĚĂƌŝƐĂƐŝ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶ ƉĞƌĂƚƵƌĂŶ
ƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ͘
• WĞƌƵƐĂŚĂĂŶ ŵĞŵŝůŝŬŝ ƉƌŽƐĞĚƵƌ ŬĞƌũĂ ƵŶƚƵŬ ŵĞŵĂƐƚŝŬĂŶ ĂŐĂƌ ƐLJĂƌĂƚ ƐĂŚŶLJĂ ƉĞƌũĂŶũŝĂŶ ƚĞƌƉĞŶƵŚŝ
;ĂĚĂƐƚĂŶĚĂƌŝƐĂƐŝͬƉĞŵĞƌŝŬƐĂĂŶĂƚĂƐƐLJĂƌĂƚƐĂŚƉĞƌũĂŶũŝĂŶƚĞƌƉĞŶƵŚŝͿ͘
• WĞƌƵƐĂŚĂĂŶƐƵĚĂŚŵĞŵĂŬƐŝŵĂůŬĂŶĂŐĂƌƚŝĚĂŬƚĞƌĚĂƉĂƚŬĞůĞŵĂŚĂŶĚĂůĂŵŬůĂƵƐƵůĂƉĞƌũĂŶũŝĂŶĚĂŶ
ŵĞŵĂƐƚŝŬĂŶĂŐĂƌƚĞƌƉĞŶƵŚŝƐLJĂƌĂƚLJĂŶŐƚĞůĂŚĚŝƐĞƉĂŬĂƚŝ͘
• WĞƌƵƐĂŚĂĂŶƚĞůĂŚŵĞŵďĞƌŝŬĂŶƉĞŵĂŚĂŵĂŶĂƚĂƐŬŽŵƉůĞŬƐŝƚĂƐƚƌĂŶƐĂŬƐŝĚĂŶŝƐƚŝůĂŚLJĂŶŐĚŝŐƵŶĂŬĂŶ
ŬĞƉĂĚĂ ŬŽŶƐƵŵĞŶ͕ ƐĞůĂŝŶ ŝƚƵ ŬŽŵƉůĞŬƐŝƚĂƐ ƚƌĂŶƐĂŬƐŝ ĚĂŶ ŝƐƚŝůĂŚ LJĂŶŐ ĚŝŐƵŶĂŬĂŶ ƐĞƐƵĂŝ ĚĞŶŐĂŶ
ŬĞƚĞŶƚƵĂŶWK:<͘
• <ĞďĞƌĂĚĂĂŶ ĚŽŬƵŵĞŶ ƉĞŶĚƵŬƵŶŐ ƚĞƌŬĂŝƚ ƉĞƌũĂŶũŝĂŶ WĞƌƵƐĂŚĂĂŶ ĚĞŶŐĂŶ ƉŝŚĂŬ ŬĞƚŝŐĂ ĚŝĂƌƐŝƉŬĂŶ
ĚĞŶŐĂŶďĂŝŬ͘
• <ĞƐĞůƵƌƵŚĂŶŝƐŝƉĞƌũĂŶũŝĂŶĚĂƉĂƚĚŝůĂŬƐĂŶĂŬĂŶ͘
• zƵƌŝƐĚŝŬƐŝŚƵŬƵŵLJĂŶŐĂĚĂĚŝƉĞƌũĂŶũŝĂŶĚŝƐĞƉĂŬĂƚŝďĞƌĚĂƐĂƌŬĂŶŬĞĚƵĚƵŬĂŶŚƵŬƵŵWĞƌƵƐĂŚĂĂŶ͘
• WĞƌƵƐĂŚĂĂŶƚŝĚĂŬďĂŶLJĂŬŵĞŵŝůŝŬŝƌŝǁĂLJĂƚƚƵŶƚƵƚĂŶŚƵŬƵŵ͘
• WĞƌƵƐĂŚĂĂŶƚŝĚĂŬŵĞŵŝůŝŬŝƌŝǁĂLJĂƚƚƵŶƚƵƚĂŶŚƵŬƵŵĚĞŶŐĂŶŶŝůĂŝƉĞƌŬĂƌĂLJĂŶŐďĞƌƐŝĨĂƚŵĂƚĞƌŝĂů͘
• WĞƌƵƐĂŚĂĂŶƚŝĚĂŬŵĞŶŐĂůĂŵŝŬĞƌƵŐŝĂŶƐĞĐĂƌĂŵĂƚĞƌŝĂůLJĂŶŐĚŝƐĞďĂďŬĂŶƉƵƚƵƐĂŶƉĞŶŐĂĚŝůĂŶLJĂŶŐ
ďĞƌƐŝĨĂƚƚĞƚĂƉ͘
<ĞŵƵŶŐŬŝŶĂŶƚŝŵďƵůŶLJĂŐƵŐĂƚĂŶĐƵŬƵƉƌĞŶĚĂŚŬĂƌĞŶĂďĞƌĚĂƐĂƌŬĂŶƉĞŶŐĂůĂŵĂŶWĞƌƵƐĂŚĂĂŶƐĞďĂŐŝĂŶ
ďĞƐĂƌ ŐƵŐĂƚĂŶ LJĂŶŐ ƚŝŵďƵů ďƵŬĂŶ ŬĂƌĞŶĂ ŬĞƐĂůĂŚĂŶ WĞƌƵƐĂŚĂĂŶ ŵĞůĂŝŶŬĂŶ ŝƚŝŬĂĚ ƚŝĚĂŬ ďĂŝŬ ĚĂƌŝ
ŬŽŶƐƵŵĞŶ͘
ϲ͘ ZŝƐŝŬŽ<ĞƉĂƚƵŚĂŶ
WĞƌƵƐĂŚĂĂŶ ƐĞŶĂŶƚŝĂƐĂ ďĞƌƵƉĂLJĂ ŵĞůĂŬƵŬĂŶ ƉĞŵĞŶƵŚĂŶ ƌĞŐƵůĂƐŝ LJĂŶŐ ďĞƌůĂŬƵ ĚĂŶ ŵĞŶŐŝƌŝŵŬĂŶ
>ĂƉŽƌĂŶ ƐĞĐĂƌĂ ƌĞŐƵůĞƌ ŬĞƉĂĚĂ ƌĞŐƵůĂƚŽƌ͘ ^ĞƌƚĂ WĞŶŐĞŶĚĂůŝĂŶ ZŝƐŝŬŽ <ĞƉĂƚƵŚĂŶ ĚŝůĂŬƵŬĂŶ ŵĞůĂůƵŝ
ƉĞŶĞƌĂƉĂŶƐŝƐƚĞŵƉĞŶŐĞŶĚĂůŝĂŶŝŶƚĞƌŶĂůƐĞĐĂƌĂĞĨĞŬƚŝĨĂŶƚĂƌĂůĂŝŶĚĞŶŐĂŶŵĞŶLJƵƐƵŶŬĞƚĞŶƚƵĂŶ dĂƚĂ
<ĞůŽůĂ LJĂŶŐ ďĂŝŬ͕ ŬĞƚĞŶƚƵĂŶ ďĞŶƚƵƌĂŶ ŬĞƉĞŶƚŝŶŐĂŶ ;ŽŶĨůŝĐƚ ŽĨ /ŶƚĞƌĞƐƚͿ͕ ƵŶƚƵŬ ŵĞŵĂƐƚŝŬĂŶ ƚŝŶŐŬĂƚ
ƌĞƐƉŽŶƐŝĨWĞƌƐĞƌŽĂŶƚĞƌŚĂĚĂƉƉĞŶLJŝŵƉĂŶŐĂŶƚĞƌŚĂĚĂƉƐƚĂŶĚĂƌLJĂŶŐďĞƌůĂŬƵƐĞĐĂƌĂƵŵƵŵ͕ŬĞƚĞŶƚƵĂŶ͕
ĚĂŶͬĂƚĂƵƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͘
ϳ͘ ZŝƐŝŬŽZĞƉƵƚĂƐŝ
ZŝƐŝŬŽ ƌĞƉƵƚĂƐŝ ĚŝŬĞůŽůĂ ĚĞŶŐĂŶ ĂĚĂŶLJĂ ďĞƌďĂŐĂŝ ƵƉĂLJĂ LJĂŶŐ ĚŝůĂŬƵŬĂŶ ŽůĞŚ WĞƌƵƐĂŚĂĂŶ͕ LJĂŝƚƵ
WĞƌƵƐĂŚĂĂŶŵĞůĂŬƵŬĂŶƉĞŶĂŶŐĂŶĂŶĂƚĂƐƉĞŶŐĂĚƵĂŶŬŽŶƐƵŵĞŶĚĂŶŵĞŵďĞƌŝŬĂŶŝŶĨŽƌŵĂƐŝƚĞƉĂƚĚĂŶ
ĂŬƵƌĂƚŬĞƉĂĚĂŬŽŶƐƵŵĞŶĚĂŶĐĂůŽŶŬŽŶƐƵŵĞŶ͘WĞƌƵƐĂŚĂĂŶũƵŐĂƚĞůĂŚďĞƌƵƐĂŚĂŵĞŶũĂůĂŶŬĂŶĨƵŶŐƐŝŶLJĂ
ĚĞŶŐĂŶŵĞŶŐĞĚĞƉĂŶŬĂŶĞƚŝŬĂĚĂŶƉƌĂŬƚĞŬďŝƐŶŝƐLJĂŶŐďĂŝŬ͘
ϴ͘ ZŝƐŝŬŽWĞŶĚĂŶĂĂŶ
^ĞďĂŐĂŝ ƐĞďƵĂŚ WĞƌƐĞƌŽĂŶ LJĂŶŐ ďĞƌŐĞƌĂŬ Ěŝ ďŝĚĂŶŐ ƵƐĂŚĂ ũĂƐĂ ƉĞŵďŝĂLJĂĂŶ͕ ŬĞŵĂŵƉƵĂŶ WĞƌƐĞƌŽĂŶ
ƵŶƚƵŬŵĞŶĚĂƉĂƚŬĂŶƐƵŵďĞƌƉĞŶĚĂŶĂĂŶĂĚĂůĂŚĨĂŬƚŽƌLJĂŶŐƐĂŶŐĂƚƉĞŶƚŝŶŐ͘dŝĚĂŬƚĞƌƐĞĚŝĂŶLJĂƐƵŵďĞƌ
ƉĞŶĚĂŶĂĂŶĂŬĂŶďĞƌĚĂŵƉĂŬƉĂĚĂƚƵƌƵŶŶLJĂƉĞƌƚƵŵďƵŚĂŶWĞƌƐĞƌŽĂŶ͘ŝƐĂŵƉŝŶŐũƵŵůĂŚƉĞŶĚĂŶĂĂŶ͕
ĨĂŬƚŽƌůĂŝŶŶLJĂLJĂŶŐũƵŐĂŵĞŶĞŶƚƵŬĂŶĂĚĂůĂŚĚƵƌĂƐŝƉĞŶĚĂŶĂĂŶ͘DĞŶŐŝŶŐĂƚũĂŶŐŬĂǁĂŬƚƵƉĞŵďŝĂLJĂĂŶ
LJĂŶŐ ďĞƌǀĂƌŝĂƐŝ͕ ŵĂŬĂ ƐƵŵďĞƌ ƉĞŶĚĂŶĂĂŶ ŚĂƌƵƐ ĚŝƐĞƐƵĂŝŬĂŶ ĚĞŶŐĂŶ ũĂŶŐŬĂ ǁĂŬƚƵ ƉĞŵďŝĂLJĂĂŶ͘
<ĞƚŝĚĂŬŵĂŵƉƵĂŶ WĞƌƐĞƌŽĂŶ ƵŶƚƵŬ ŵĞŶĚĂƉĂƚŬĂŶ ĚĂŶĂ ĚĞŶŐĂŶ ũĂŶŐŬĂ ǁĂŬƚƵ LJĂŶŐ ƐĞƐƵĂŝ ĚĞŶŐĂŶ
ƉĞŵďŝĂLJĂĂŶĂŬĂŶŵĞŶŐĂŬŝďĂƚŬĂŶŬĞƚŝĚĂŬƐĞƐƵĂŝĂŶƉĞŶĚĂŶĂĂŶLJĂŶŐƐĞůĂŶũƵƚŶLJĂĚĂƉĂƚŵĞŵĞŶŐĂƌƵŚŝ
123
Page 144
PT INDOMOBIL FINANCE INDONESIA
ƉĞƌŬĞŵďĂŶŐĂŶ WĞƌƐĞƌŽĂŶ͘ WĞƌƐĞƌŽĂŶ ŵĞůĂŬƵŬĂŶ ĚŝǀĞƌƐŝĨŝŬĂƐŝ ƐƵŵďĞƌ ƉĞŶĚĂŶĂĂŶ LJĂŶŐ ƚĞƌĚŝƌŝ ĚĂƌŝ
ƉŝŶũĂŵĂŶ ďĂŶŬ ďĂŝŬ ĚĂƌŝ ĚĂůĂŵ ŶĞŐĞƌŝ ŵĂƵƉƵŶ ůƵĂƌ ŶĞŐĞƌŝ͕ ƉĞŶĞƌďŝƚĂŶ ŽďůŝŐĂƐŝ ƐĞĐĂƌĂ ďĞƌŬĂůĂ͕
ŬĞƌũĂƐĂŵĂƉĞŵďŝĂLJĂĂŶďĞƌƐĂŵĂƐĞƌƚĂĂƌƵƐŬĂƐŝŶƚĞƌŶĂůWĞƌƐĞƌŽĂŶ͘
͘ ZŝƐŝŬŽhŵƵŵ
ϭ͘ ZŝƐŝŬŽWĞƌĞŬŽŶŽŵŝĂŶ
ZŝƐŝŬŽ ƉĞƌĞŬŽŶŽŵŝĂŶ ŵĞƌƵƉĂŬĂŶ ƌŝƐŝŬŽ LJĂŶŐ ƚŝŵďƵů ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ ƉĞƌƵďĂŚĂŶ ŬŽŶĚŝƐŝ
ƉĞƌĞŬŽŶŽŵŝĂŶŶĂƐŝŽŶĂůƐĞĐĂƌĂƵŵƵŵƐĞƉĞƌƚŝƚŝŶŐŬĂƚƉĞƌƚƵŵďƵŚĂŶĞŬŽŶŽŵŝ͕ƚŝŶŐŬĂƚŝŶĨůĂƐŝ͕ƚŝŶŐŬĂƚƐƵŬƵ
ďƵŶŐĂĚĂŶĨůƵŬƚƵĂƐŝŶŝůĂŝƚƵŬĂƌZƵƉŝĂŚƚĞƌŚĂĚĂƉŵĂƚĂƵĂŶŐĂƐŝŶŐ͘ZŝƐŝŬŽŝŶŝĚĂƉĂƚŵĞŵĞŶŐĂƌƵŚŝƐĞĐĂƌĂ
ůĂŶŐƐƵŶŐ ŵĂƵƉƵŶ ƚŝĚĂŬ ůĂŶŐƐƵŶŐ ŬĞŐŝĂƚĂŶ ŽƉĞƌĂƐŝŽŶĂů ĚĂŶ ƉĞŶĚĂƉĂƚĂŶ WĞƌƐĞƌŽĂŶ͕ ƐĞƉĞƌƚŝ ŵŝƐĂůŶLJĂ
ƉĞŶLJĂůƵƌĂŶŬƌĞĚŝƚ͕ŬƵĂůŝƚĂƐĂƐĞƚƉƌŽĚƵŬƚŝĨ͕ďŝĂLJĂƉĞŶĚĂŶĂĂŶLJĂŶŐƐĞůĂŶũƵƚŶLJĂďĞƌĚĂŵƉĂŬŶĞŐĂƚŝĨƉĂĚĂ
ŬĞŐŝĂƚĂŶŽƉĞƌĂƐŝŽŶĂůĚĂŶƉĞŶĚĂƉĂƚĂŶWĞƌƐĞƌŽĂŶ͘
Ϯ͘ ZŝƐŝŬŽ^ŽƐŝĂůĚĂŶ<ĞĂŵĂŶĂŶ
'ĞũŽůĂŬƐŽƐŝĂůĚĂŶŬĞĂŵĂŶĂŶĚĂůĂŵŶĞŐĞƌŝĚĂƉĂƚďĞƌĚĂŵƉĂŬůƵĂƐƉĂĚĂƐĞŬƚŽƌĞŬŽŶŽŵŝ͘'ĂŶŐŐƵĂŶƉĂĚĂ
ƐŽƐŝĂůĚĂŶŬĞĂŵĂŶĂŶĚĂƉĂƚŵĞŶŐĂŬŝďĂƚŬĂŶƉĞŶƵƌƵŶĂŶŬĞŐŝĂƚĂŶĚŝďĞƌďĂŐĂŝƐĞŬƚŽƌŝŶĚƵƐƚƌŝ͕ƚĞƌŵĂƐƵŬ
ƐĞŬƚŽƌ ŬĞŶĚĂƌĂĂŶ ďĞƌŵŽƚŽƌ ĚĂŶ ƉĞŵďŝĂLJĂĂŶ͘ ƉĂďŝůĂ ŚĂů ƚĞƌƐĞďƵƚ ƚĞƌũĂĚŝ͕ ŵĂŬĂ WĞƌƐĞƌŽĂŶ ŵƵŶŐŬŝŶ
ĂŬĂŶŵĞŶŐĂůĂŵŝƉĞŶƵƌƵŶĂŶƉĞŶĚĂƉĂƚĂŶ͘
ϯ͘ ZŝƐŝŬŽ<ĞďŝũĂŬĂŶDŽŶĞƚĞƌ
<ĞďŝũĂŬĂŶ ŵŽŶĞƚĞƌ LJĂŶŐ ĚŝƚĞƚĂƉŬĂŶ ŽůĞŚ WĞŵĞƌŝŶƚĂŚ ĚĂƉĂƚ ŵĞŵƉĞŶŐĂƌƵŚŝ ŬŽŶĚŝƐŝ ƐƵŵďĞƌ ĚĂŶĂ
ŵĂƵƉƵŶƉĞŶŐŐƵŶĂĂŶĚĂŶĂ͘<ĞŐĂŐĂůĂŶĚĂůĂŵŵĞŶŐĂŶƚŝƐŝƉĂƐŝƉĞƌƵďĂŚĂŶŬĞďŝũĂŬĂŶLJĂŶŐĚŝůĂŬƵŬĂŶŽůĞŚ
WĞŵĞƌŝŶƚĂŚĚĂƉĂƚďĞƌĚĂŵƉĂŬŶĞŐĂƚŝĨƚĞƌŚĂĚĂƉŬŝŶĞƌũĂWĞƌƐĞƌŽĂŶ͘<ĞďŝũĂŬĂŶƵĂŶŐŬĞƚĂƚŵĞŶŐĂŬŝďĂƚŬĂŶ
ƐƵŵďĞƌ ĚĂŶĂ LJĂŶŐ ŵĞŶŐĞĐŝů LJĂŶŐ ŬĞŵƵĚŝĂŶ ĚĂƉĂƚ ŵĞŶŐĂŬŝďĂƚŬĂŶ ŶĂŝŬŶLJĂ ƚŝŶŐŬĂƚ ƐƵŬƵ ďƵŶŐĂ͘
^ĞĚĂŶŐŬĂŶ ĚĞƌĞŐƵůĂƐŝ Ěŝ ďŝĚĂŶŐ ŵŽŶĞƚĞƌ ĚĂŶ ŬĞƵĂŶŐĂŶ ƵŵƵŵŶLJĂ ĂŬĂŶ ŵĞůŽŶŐŐĂƌŬĂŶ ƐƵŵďĞƌ ĚĂŶĂ
LJĂŶŐƐĞůĂŶũƵƚŶLJĂŵĞŶŐĂŬŝďĂƚŬĂŶƚƵƌƵŶŶLJĂƚŝŶŐŬĂƚďƵŶŐĂ͘^ŝƚƵĂƐŝƚĞƌƐĞďƵƚĚĂƉĂƚŵĞŶƵƌƵŶŬĂŶĂŬƚŝĨŝƚĂƐ
WĞƌƐĞƌŽĂŶ ŵĂƵƉƵŶ ƉĞŶĚĂƉĂƚĂŶ ƵƐĂŚĂ WĞƌƐĞƌŽĂŶ͘ ^ĞůĂŝŶ ŝƚƵ͕ƚĞƌĚĂƉĂƚ ƌŝƐŝŬŽ WĞŵĞƌŝŶƚĂŚ ŵĞŶĞƚĂƉŬĂŶ
ŬĞďŝũĂŬĂŶ ƐƵŬƵ ďƵŶŐĂ LJĂŶŐ ƚŝŶŐŐŝ͕ LJĂŶŐ ĚĂƉĂƚ ŵĞŶŐĂŬŝďĂƚŬĂŶ ŵĂƌũŝŶ ƉĞŵďŝĂLJĂĂŶ ďĞƌƐŝŚ WĞƌƐĞƌŽĂŶ
ŵĞŶũĂĚŝƚƵƌƵŶ͕LJĂŶŐďĞƌĚĂŵƉĂŬƉĂĚĂƉĞŶƵƌƵŶĂŶƉĞŶĚĂƉĂƚĂŶ͘
ϰ͘ ZŝƐŝŬŽWĞƌƐĂŝŶŐĂŶhƐĂŚĂ
^ĞŬƚŽƌƵƐĂŚĂƉĞŵďŝĂLJĂĂŶ͕ƚĞƌƵƚĂŵĂƵŶƚƵŬƉĞŵďŝĂLJĂĂŶŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌŵĂŬŝŶĚŝŵŝŶĂƚŝŽůĞŚƉĂƌĂ
ŝŶǀĞƐƚŽƌ͕ŵĞŶŐŝŶŐĂƚŵĂƐŝŚďĞƐĂƌŶLJĂƉĂŶŐƐĂƉĂƐĂƌƉĂĚĂƐĞŬƚŽƌƵƐĂŚĂƉĞŵďŝĂLJĂĂŶŝŶŝ͘ĞƌĂůŝŚŶLJĂĨŽŬƵƐ
ďŝƐŶŝƐ ďĞďĞƌĂƉĂ ƉĞƌƵƐĂŚĂĂŶ ƉĞŵďŝĂLJĂĂŶ ĚĞŶŐĂŶ ŵĞŶŝƚŝŬďĞƌĂƚŬĂŶ ƉĂĚĂ ƐĞŬƚŽƌ ƵƐĂŚĂ ƉĞŵďŝĂLJĂĂŶ
ŬŽŶƐƵŵĞŶĂƚĂƐŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌƐĞƌƚĂŵĞŶŝŶŐŬĂƚŶLJĂƉĞŵďŝĂLJĂĂŶŬĞŶĚĂƌĂĂŶŽůĞŚďĂŶŬͲďĂŶŬĂŬĂŶ
ŵĞŶŝŵďƵůŬĂŶƚŝŶŐŬĂƚƉĞƌƐĂŝŶŐĂŶLJĂŶŐƐĞŵĂŬŝŶŬĞƚĂƚĚŝƐĞŬƚŽƌƵƐĂŚĂƉĞŵďŝĂLJĂĂŶŬĞŶĚĂƌĂĂŶďĞƌŵŽƚŽƌ
ŝŶŝƚĞƌƵƚĂŵĂƉĂĚĂƚŝŶŐŬĂƚƐƵŬƵďƵŶŐĂ͘ĂŵƉĂŬůĂŶŐƐƵŶŐĚĂƌŝƐĞŵĂŬŝŶƚŝŶŐŐŝŶLJĂƉĞƌƐĂŝŶŐĂŶŝŶŝĂƉĂďŝůĂ
ƚŝĚĂŬďŝƐĂĚŝƚĂŶŐŐƵůĂŶŐŝĂĚĂůĂŚĂŬĂŶŵĞŶƵƌƵŶŬĂŶƉĞŶĚĂƉĂƚĂŶĚĂŶƉĂŶŐƐĂƉĂƐĂƌWĞƌƐĞƌŽĂŶ͘
ϱ͘ ZŝƐŝŬŽ/ŶǀĞƐƚĂƐŝĂƚĂƵŬƐŝ<ŽƌƉŽƌĂƐŝ
WĞƌƐĞƌŽĂŶƐĂĂƚŝŶŝĚŝŬĞŶĚĂůŝŬĂŶĚĂŶĚŝŬĞůŽůĂŽůĞŚƉŝŚĂŬͲƉŝŚĂŬƐĞďĂŐĂŝŵĂŶĂƚĞƌĐĂŶƚƵŵƉĂĚĂĂďs///
<ĞƚĞƌĂŶŐĂŶdĞŶƚĂŶŐWĞƌƐĞƌŽĂŶ͕<ĞŐŝĂƚĂŶhƐĂŚĂ͕<ĞĐĞŶĚĞƌƵŶŐĂŶĚĂŶWƌŽƐƉĞŬhƐĂŚĂ͘ŝŵĂƐĂLJĂŶŐĂŬĂŶ
ĚĂƚĂŶŐ͕ ĚĞŶŐĂŶ ŬŽŶĚŝƐŝ ďŝƐŶŝƐ Ěŝ /ŶĚŽŶĞƐŝĂ LJĂŶŐ ďĞƌƐŝĨĂƚ ĚŝŶĂŵŝƐ͕ ďĂŝŬ ƐĞŬƚŽƌ ƉĞŵďŝĂLJĂĂŶ͕ ŵĂƵƉƵŶ
ƐĞĐĂƌĂƵŵƵŵ͕ƚŝĚĂŬŵĞŶƵƚƵƉŬĞŵƵŶŐŬŝŶĂŶƐƵĂƚƵƐĂĂƚŶĂŶƚŝWĞƌƐĞƌŽĂŶĂŬĂŶŵĞŶŐĂĚĂŬĂŶĂŬƐŝŬŽƌƉŽƌĂƐŝ
LJĂŶŐ ĚĂƉĂƚ ŵĞŶŐĂŬŝďĂƚŬĂŶ ƉĞƌƵďĂŚĂŶ ƉĞŶŐĞŶĚĂůŝĂŶ͕ ƉĞƌƵďĂŚĂŶ ƉĞŶŐƵƌƵƐ ĚĂŶ ƉĞŶŐĂǁĂƐ͕ ŵĂƵƉƵŶ
ƉĞƌƵďĂŚĂŶĨŽŬƵƐďŝƐŶŝƐWĞƌƐĞƌŽĂŶ͘ĞŶŐĂŶƚĞƌũĂĚŝŶLJĂŚĂůƚĞƌƐĞďƵƚ͕ŬŝŶĞƌũĂWĞƌƐĞƌŽĂŶƐĞĐĂƌĂŚŝƐƚŽƌŝƐ
ĂŬĂŶƐƵůŝƚƵŶƚƵŬĚŝŐƵŶĂŬĂŶƐĞďĂŐĂŝůĂŶĚĂƐĂŶĚĂůĂŵŵĞŵďƵĂƚƉĞƌŬŝƌĂĂŶͬƉƌŽLJĞŬƐŝĚŝŵĂƐĂLJĂŶŐĂŬĂŶ
ĚĂƚĂŶŐ͘^ĞůĂŝŶŝƚƵ͕ũŝŬĂďŝƐŶŝƐWĞƌƐĞƌŽĂŶƐĞŵĂŬŝŶďĞƌŬĞŵďĂŶŐ͕ƚĞƌĚĂƉĂƚŬĞŵƵŶŐŬŝŶĂŶďĂŚǁĂWĞƌƐĞƌŽĂŶ
ĂŬĂŶďĞƌŝŶǀĞƐƚĂƐŝƉĂĚĂĞŶƚŝƚĂƐůĂŝŶ͕LJĂŶŐďĞƌŐĞƌĂŬĚĂůĂŵďŝĚĂŶŐũĂƐĂƉĞŵďŝĂLJĂĂŶ͕ďĞƌŬĂŝƚĂŶĚĞŶŐĂŶ
ũĂƐĂ ƉĞŵďŝĂLJĂĂŶ ŵĂƵƉƵŶ ďŝĚĂŶŐ ƵƐĂŚĂ LJĂŶŐ ƐĂŵĂ ƐĞŬĂůŝ ďĞƌďĞĚĂ͘ ,Ăů ƚĞƌƐĞďƵƚ ďĞƌƉŽƚĞŶƐŝ ƵŶƚƵŬ
ŵĞŵďƵĂƚ ƉƌŽƐĞƐ ƉĞŶŐĞŵďĂŶŐĂŶ ďŝƐŶŝƐ WĞƌƐĞƌŽĂŶ LJĂŶŐ ƚĞůĂŚ ĚŝƌĞŶĐĂŶĂŬĂŶ ƐĂĂƚ ŝŶŝ ŵĞŶũĂĚŝ ƚŝĚĂŬ
ƌĞůĞǀĂŶůĂŐŝ͘
ϲ͘ ZŝƐŝŬŽWĞƌƵďĂŚĂŶdĞŬŶŽůŽŐŝ
WĞƌĂŶƚĞŬŶŽůŽŐŝ͕ŬŚƵƐƵƐŶLJĂƚĞŬŶŽůŽŐŝŝŶĨŽƌŵĂƐŝĚĂůĂŵŝŶĚƵƐƚƌŝƉĞŵďŝĂLJĂĂŶƐĂĂƚŝŶŝŵĞŵƉƵŶLJĂŝƉŽƐŝƐŝ
ĚĂŶĨƵŶŐƐŝLJĂŶŐƐĂŶŐĂƚƐƚƌĂƚĞŐŝƐ͕ŬĂƌĞŶĂďƵŬĂŶŚĂŶLJĂƐĞďĂŐĂŝƐĂƌĂŶĂƉĞŶĚƵŬƵŶŐ͕ƚĞŬŶŽůŽŐŝŝŶĨŽƌŵĂƐŝ
124
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ũƵŐĂ ƐĞďĂŐĂŝ ƐƚƌĂƚĞŐŝĐ ĞŶĂďůĞƌ ďĂŐŝ ďŝƐŶŝƐ WĞƌƐĞƌŽĂŶ͘ :ŝŬĂ WĞƌƐĞƌŽĂŶ ůĂůĂŝ ĚĂůĂŵ ŵĞŶŐŽƉƚŝŵĂůŬĂŶ
ƚĞŬŶŽůŽŐŝŝŶĨŽƌŵĂƐŝŶLJĂƵŶƚƵŬŵĞŶĐĂƉĂŝŬĞƉƵĂƐĂŶŶĂƐĂďĂŚ͕ŵĂŬĂŬĞůĂůĂŝĂƚĞƌƐĞďƵƚĂŬĂŶďĞƌĚĂŵƉĂŬ
ŶĞŐĂƚŝĨ ďĂŐŝ ŬŝŶĞƌũĂ ŽƉĞƌĂƐŝŽŶĂů WĞƌƐĞƌŽĂŶ LJĂŶŐ ƉĂĚĂ ĂŬŚŝƌŶLJĂ ĚĂƉĂƚ ďĞƌĚĂŵƉĂŬ ŶĞŐĂƚŝĨ ũƵŐĂ ďĂŐŝ
ŬŝŶĞƌũĂŬĞƵĂŶŐĂŶWĞƌƐĞƌŽĂŶ͘
͘ Z/^/<K/Es ^d^/zE' Z</dE E'EK>/'^/
ZŝƐŝŬŽLJĂŶŐĚŝŚĂĚĂƉŝŝŶǀĞƐƚŽƌƉĞŵďĞůŝKďůŝŐĂƐŝĂĚĂůĂŚ͗
ϭ͘ ZŝƐŝŬŽƚŝĚĂŬůŝŬƵŝĚŶLJĂKďůŝŐĂƐŝLJĂŶŐĚŝƚĂǁĂƌŬĂŶĚĂůĂŵWĞŶĂǁĂƌĂŶhŵƵŵŝŶŝLJĂŶŐĂŶƚĂƌĂůĂŝŶĚŝƐĞďĂďŬĂŶ
ŬĂƌĞŶĂƚƵũƵĂŶƉĞŵďĞůŝĂŶKďůŝŐĂƐŝƐĞďĂŐĂŝŝŶǀĞƐƚĂƐŝũĂŶŐŬĂƉĂŶũĂŶŐ
Ϯ͘ ZŝƐŝŬŽŐĂŐĂůďĂLJĂƌĚŝƐĞďĂďŬĂŶŬĞŐĂŐĂůĂŶĚĂƌŝWĞƌƐĞƌŽĂŶƵŶƚƵŬŵĞůĂŬƵŬĂŶƉĞŵďĂLJĂƌĂŶďƵŶŐĂKďůŝŐĂƐŝ
ƐĞƌƚĂWŽŬŽŬKďůŝŐĂƐŝƉĂĚĂǁĂŬƚƵLJĂŶŐƚĞůĂŚĚŝƚĞƚĂƉŬĂŶ͕ĂƚĂƵŬĞŐĂŐĂůĂŶWĞƌƐĞƌŽĂŶƵŶƚƵŬŵĞŵĞŶƵŚŝ
ŬĞƚĞŶƚƵĂŶ ůĂŝŶ LJĂŶŐ ĚŝƚĞƚĂƉŬĂŶ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ LJĂŶŐ ŵĞƌƵƉĂŬĂŶ ĚĂŵƉĂŬ ĚĂƌŝ
ŵĞŵďƵƌƵŬŶLJĂŬŝŶĞƌũĂĚĂŶƉĞƌŬĞŵďĂŶŐĂŶƵƐĂŚĂWĞƌƐĞƌŽĂŶ͘
dE''hE':t^K^/>W Zh^,E
^ĞďĂŐĂŝŽƌŐĂŶŝƐĂƐŝũĂƐĂŬĞƵĂŶŐĂŶLJĂŶŐƐĂĚĂƌĂŬĂŶƉĞŶƚŝŶŐŶLJĂdĂŶŐŐƵŶŐ:ĂǁĂď^ŽƐŝĂůĚĂŶ>ŝŶŐŬƵŶŐĂŶ͕WĞƌƐĞƌŽĂŶ
ƚƵƌƵƚ ďĞƌŬŽŶƚƌŝďƵƐŝ ĚĂůĂŵ ƉĞŵďĂŶŐƵŶĂŶ ĞŬŽŶŽŵŝ ŶĂƐŝŽŶĂů ƐĞƌƚĂ ƐĞĐĂƌĂ ĂŬƚŝĨ ŵĞŶĚƵŬƵŶŐ ƵƉĂLJĂ ƉĞůĞƐƚĂƌŝĂŶ
ůŝŶŐŬƵŶŐĂŶ ŵĞůĂůƵŝ ďĞƌďĂŐĂŝ ŝŶŝƐŝĂƚŝĨ ŬĞďĞƌůĂŶũƵƚĂŶ LJĂŶŐ ĚŝƌĂŶĐĂŶŐ ƐĞĚĞŵŝŬŝĂŶ ƌƵƉĂ ƐĞŚŝŶŐŐĂ ŵĞŵďĞƌŝŬĂŶ
ŵĂŶĨĂĂƚďĂŐŝƐĞůƵƌƵŚƉĞŵĂŶŐŬƵŬĞƉĞŶƚŝŶŐĂŶ͘
ĂůĂŵ ƌĂŶŐŬĂ ŵĞŶŝŶŐŬĂƚŬĂŶ ŬƵĂůŝƚĂƐ ŬĞƐĞũĂŚƚĞƌĂĂŶ ŵĂƐLJĂƌĂŬĂƚ͕ WĞƌƐĞƌŽĂŶ ŵĞŶLJƵƐƵŶ ƉƌŽŐƌĂŵͲƉƌŽŐƌĂŵ
ƌĞůĞǀĂŶ LJĂŶŐ ĚĂƉĂƚ ŵĞŵďĞƌŝŬĂŶ ŵĂŶĨĂĂƚ ďĂŐŝ ŵĂƐLJĂƌĂŬĂƚ ƐĞŬŝƚĂƌ LJĂŶŐ ƚŝŶŐŐĂů Ěŝ ǁŝůĂLJĂŚ ŽƉĞƌĂƐŝ WĞƌƐĞƌŽĂŶ
ĚĞŶŐĂŶƚĞƚĂƉŵĞŶŐĂĐƵƉĂĚĂƉŝůĂƌͲƉŝůĂƌƉĞůĂŬƐĂŶĂĂŶ^ZWĞƌƐĞƌŽĂŶ͘
ϭ͘ WĞůĂŬƐĂŶĂĂŶŬĞŐŝĂƚĂŶ^ZĚŝďŝĚĂŶŐƉĞŶĚŝĚŝŬĂŶŵĞŶĐĂŬƵƉƉĞŵďĞƌŝĂŶƐĂƌĂŶĂĚĂŶĚĂŶĂƉĞŶĚŝĚŝŬĂŶ͖ĚĂŶ
Ϯ͘ WĞůĂŬƐĂŶĂĂŶŬĞŐŝĂƚĂŶ^ZĚŝďŝĚĂŶŐƐŽƐŝĂůŬĞŵĂƐLJĂƌĂŬĂƚĂŶĚĂůĂŵƉĞŵďĂŶŐƵŶĂŶŵĂƵƉƵŶƉĞŶŐĞŵďĂŶŐĂŶ
ƐĂƌĂŶĂĚĂŶƉƌĂƐĂƌĂŶĂůĞŵďĂŐĂŬĞŵĂƐLJĂƌĂŬĂƚĂŶ͘
ĞŶƚƵŬ
<ĞŐŝĂƚĂŶ >ŽŬĂƐŝ tĂŬƚƵWĞůĂŬƐĂŶĂĂŶ
EŽ͘ ĂŶƚƵĂŶ
ϭ͘ ĂŶƚƵĂŶ <ĞŐŝĂƚĂŶ WĂŬĞƚ^ĞŵďĂŬŽ WĂŶƚŝ ƐƵŚĂŶ ϮϳƉƌŝůϮϬϮϰ
^ĂŶƚƵŶĂŶ ŶĂŬ WĂŶƚŝ ZŝnjŬŝ /ůůĂŚŝ
ƐƵŚĂŶ DĂŬĂƐƐĂƌ͕
^ƵůĂǁĞƐŝ
^ĞůĂƚĂŶ
Ϯ͘ ĂŶƚƵĂŶYƵƌďĂŶDĂƐũŝĚů ĂŐŝŶŐYƵƌďĂŶ DĂƐũŝĚ ůͲ/ŬŚůĂƐ ϭϵ:ƵŶŝϮϬϮϰ
/ŬŚůĂƐ/ŶĚŽŵŽďŝů'ƌŽƵƉ <ŽŵƉůĞŬ
/ŶĚŽŵŽďŝů͕
:ĂŬĂƌƚĂdŝŵƵƌ
ϯ͘ ĂŶƚƵĂŶ ƵŶƚƵŬ <ŽƌďĂŶ hĂŶŐ dƵŶĂŝ ĚĂŶ &ůŽƌĞƐ dŝŵƵƌ͕ ϭϵΘϮϰEŽǀĞŵďĞƌϮϬϮϰ
ƌƵƉƐŝ 'ƵŶƵŶŐ >ĞǁŽƚŽďŝ ĂŶƚƵĂŶWŽŬŽŬ Edd
>ĂŬŝͲ>ĂŬŝ
ϰ͘ ^ƵŵďĂŶŐĂŶ hĂŶŐdƵŶĂŝ :ĂŬĂƌƚĂ ϳĞƐĞŵďĞƌϮϬϮϰ
ƉĞŶLJĞůĞŶŐŐĂƌĂĂŶ EĂƚĂů /ŶƚĞƌŶĂƚŝŽŶĂů
/ŶĚŽŵŽďŝů'ƌŽƵƉ džƉŽ
<ĞŵĂLJŽƌĂŶ͕
:ĂŬĂƌƚĂWƵƐĂƚ
ϱ͘ ĂŶƚƵĂŶ ^ĂƌĂŶĂ &ĂƐŝůŝƚĂƐ ďĞůĂũĂƌ WĂŶƚŝ ƐƵŚĂŶ ϭϰĞƐĞŵďĞƌϮϬϮϰ
WĞŶĚŝĚŝŬĂŶ ƵŶƚƵŬ ŶĂŬ ĚĂŶ ƉĂŬĞƚ ĂůĂƚ <ĂƌĞŶĂ ŽĂ
WĂŶƚŝƐƵŚĂŶ ƚƵůŝƐ ĞƉŽŬ͕ :ĂǁĂ
ĂƌĂƚ
125
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ĞŶƚƵŬ
<ĞŐŝĂƚĂŶ >ŽŬĂƐŝ tĂŬƚƵWĞůĂŬƐĂŶĂĂŶ
EŽ͘ ĂŶƚƵĂŶ
ϲ͘ ĂŶƚƵĂŶ WĞŶĚŝĚŝŬĂŶ hĂŶŐdƵŶĂŝ zĂLJĂƐĂŶ ϮϳĞƐĞŵďĞƌϮϬϮϰ
<ĞůƵĂƌŐĂ WĞŶLJĂŶĚĂŶŐ <ĞƐĞũĂŚƚĞƌĂĂŶ
ŝĨĂďĞů WĞŶLJĂŶĚĂŶŐ
ŝƐĂďŝůŝƚŝĂƐ
/ŶĚŽŶĞƐŝĂ͕
:ĂŬĂƌƚĂdŝŵƵƌ
ϳ͘ >ĂŝŶͲůĂŝŶ ;^ƵŵďĂŶŐĂŶ hĂŶŐdƵŶĂŝ Ͳ Ͳ
ŬŚŝƚĂŶĂŶ͕ ƉĞŵďĂŶŐƵŶĂŶ
ŵƵƐĂůĂ͕ ĚĂŶ ƐƵŵďĂŶŐĂŶ
ůĂŝŶŶLJĂͿ͘
^W < <KEKD/
ZƵĂŶŐůŝŶŐŬƵƉƉĞŵďĂŚĂƐĂŶĂƐƉĞŬĞŬŽŶŽŵŝĚŝďĂƚĂƐŝŚĂŶLJĂƉĂĚĂŚĂůͲŚĂůLJĂŶŐďĞƌŚƵďƵŶŐĂŶĚĞŶŐĂŶƉĞŶLJĂůƵƌĂŶ
ƉĞŵďŝĂLJĂĂŶďĂƌƵƉĂĚĂŬĞŐŝĂƚĂŶhƐĂŚĂDŝŬƌŽ<ĞĐŝůĚĂŶDĞŶĞŶŐĂŚ;hD<DͿ͕ŬĞƉĂƚƵŚĂŶƚĞƌŚĂĚĂƉůŽĂŶĐŽǀĞŶĂŶƚ͕
ĚĂŶƉĞŶĂŵďĂŚĂŶŬĂŶƚŽƌĐĂďĂŶŐ͘^ĞĚĂŶŐŬĂŶƉĞŵďĂŚĂƐĂŶƵŶƚƵŬŬŝŶĞƌũĂĞŬŽŶŽŵŝůĂŝŶŶLJĂĚĂƉĂƚĚŝůŝŚĂƚƉĂĚĂĂď
ŶĂůŝƐŝƐĚĂŶWĞŵďĂŚĂƐĂŶDĂŶĂũĞŵĞŶ͘
ĂůĂŵ ƌĂŶŐŬĂ ŵĞŶĚƵŬƵŶŐ ƉĞƌƚƵŵďƵŚĂŶ ĞŬŽŶŽŵŝ Ěŝ /ŶĚŽŶĞƐŝĂ͕ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞŶLJĂůƵƌŬĂŶ ƉĞŵďŝĂLJĂĂŶ
ŵŽĚĂůŬĞƌũĂLJĂŶŐĚŝƵƚĂŵĂŬĂŶƵŶƚƵŬŬĞŐŝĂƚĂŶƵƐĂŚĂLJĂŶŐďĞƌŚƵďƵŶŐĂŶĚĞŶŐĂŶhD<DĚŝǁŝůĂLJĂŚƉƵůĂƵ:ĂǁĂ͘͘
^ĞůĂŵĂ ƉĞƌŝŽĚĞ ƚĂŚƵŶ ϮϬϮϮͲϮϬϮϰ͕ WĞƌƐĞƌŽĂŶ ƐĞŶĂŶƚŝĂƐĂ ŵĞŵĞŶƵŚŝ >ŽĂŶ ŽǀĞŶĂŶƚ ĚĂƌŝ <ƌĞĚŝƚƵƌ͘ ,Ăů ŝŶŝ
ŵĞŵďƵŬƚŝŬĂŶ ďĂŚǁĂ WĞƌƐĞƌŽĂŶ ŵĂŵƉƵ ŵĞŶũĂŐĂ ŬŽŵŝƚŵĞŶŶLJĂ ƵŶƚƵŬ ŵĞŵĞŶƵŚŝ >ŽĂŶ ŽǀĞŶĂŶƚ LJĂŶŐ
ĚŝƐLJĂƌĂŬĂƚŬĂŶ ŽůĞŚ ŬƌĞĚŝƚƵƌ͘ ^ĞůĂŝŶ ŝƚƵ͕ ^ĞůĂŵĂ ƚĂŚƵŶ ϮϬϮϰ͕ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ŵĞŶĐĂƚĂƚŬĂŶ ƉĞŶĂŵďĂŚĂŶ ŝnjŝŶ
<ĂŶƚŽƌĂďĂŶŐ;<ͿƚĞƌďĂƌƵŶĂŵƵŶWĞƌƐĞƌŽĂŶŵĞŵŝůŝŬŝϲ;ĞŶĂŵͿ<ĂŶƚŽƌ^ĞůĂŝŶ<ĂŶƚŽƌĂďĂŶŐ;<^<ͿďĂƌƵLJĂŶŐ
ƚĞƌƐĞďĂƌ Ěŝ ďĞďĞƌĂƉĂ ĚĂĞƌĂŚ ĚŝĂŶƚĂƌĂŶLJĂ :ĂďŽĚĞƚĂďĞŬ͕ :ĂǁĂ͕ ^ƵŵĂƚƌĂ ĚĂŶ WĂƉƵĂ͘͘ ĚĂƉƵŶ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ
ŵĞůĂŬƵŬĂŶƐŽƐŝĂůŝƐĂƐŝƉĞŶŐŐƵŶĂĂŶŬĞŶĚĂƌĂĂŶƌĂŵĂŚůŝŶŐŬƵŶŐĂŶƐĞƌƚĂŬĞƉĞŶĚƵůŝĂŶƚĞƌŚĂĚĂƉůŝŶŐŬƵŶŐĂŶƵŶƚƵŬ
ŬŽŶƐƵŵĞŶ ŬŽŶƐƵŵĞŶŶLJĂ͕ ƐĞůĂŝŶ ŝƚƵ WĞƌƐĞƌŽĂŶ ƚĞůĂŚ ŵĞůĂŬƵŬĂŶ ƐŽƐŝĂůŝƐĂƐŝ ƉƌŽĚƵŬ ŬĞƵĂŶŐĂŶ ĚĂŶ ůŝƚĞƌĂƐŝ
ŬĞƵĂŶŐĂŶ͘^ĂŵƉĂŝĚĞŶŐĂŶďƵůĂŶDĂƌĞƚϮϬϮϱ͕WĞƌƐĞƌŽĂŶďĞůƵŵŵĞŶĐĂƚĂƚŬĂŶƉĞŶĂŵďĂŚĂŶŝnjŝŶ<ĂŶƚŽƌĂďĂŶŐ
;<ͿĚĂŶ<ĂŶƚŽƌ^ĞůĂŝŶ<ĂŶƚŽƌĂďĂŶŐ;<^<ͿďĂƌƵ͘
^W <dE''hE':td Z,W>/E'<hE'E,/hW
^ĞƚŝĂƉ ŬĞďŝũĂŬĂŶ ŽƉĞƌĂƐŝŽŶĂů WĞƌƐĞƌŽĂŶ ƐĞŶĂŶƚŝĂƐĂ ŵĞŵƉĞƌƚŝŵďĂŶŐŬĂŶ ĂƐƉĞŬ ƉĞůĞƐƚĂƌŝĂŶ ůŝŶŐŬƵŶŐĂŶ ŚŝĚƵƉ͕
ǁĂůĂƵƉƵŶ ƉĂĚĂ ĚĂƐĂƌŶLJĂ ŬĞŐŝĂƚĂŶ ƵƐĂŚĂ WĞƌƐĞƌŽĂŶ Ěŝ ďŝĚĂŶŐ ũĂƐĂ ƉĞŵďŝĂLJĂĂŶ ŵĞŵŝůŝŬŝ ŚƵďƵŶŐĂŶ ƚŝĚĂŬ
ůĂŶŐƐƵŶŐ ĚĞŶŐĂŶ ƉĞŵĂŶĨĂĂƚĂŶ ƐƵŵďĞƌ ĚĂLJĂ ĂůĂŵ͘ WĞƌƐĞƌŽĂŶ ďĞƌƵƐĂŚĂ ĂŐĂƌ ƐĞƚŝĂƉ ĂŬƚŝǀŝƚĂƐ ďŝƐŶŝƐŶLJĂ ƚŝĚĂŬ
ŵĞŵďĞƌŝŬĂŶĚĂŵƉĂŬLJĂŶŐŵĞƌƵŐŝŬĂŶďĂŐŝůŝŶŐŬƵŶŐĂŶƐĞŬŝƚĂƌĚĂŶďĞƌŬŽŵŝƚŵĞŶƵŶƚƵŬŵĞŶũĂůĂŶŬĂŶƉƌŽŐƌĂŵͲ
ƉƌŽŐƌĂŵƉĞůĞƐƚĂƌŝĂŶůŝŶŐŬƵŶŐĂŶ͘
dŽƚĂůďŝĂLJĂůŝŶŐŬƵŶŐĂŶŚŝĚƵƉĂĚĂůĂŚƐĞůĂŵĂƚĂŚƵŶϮϬϮϰĚĂŶƐĂŵƉĂŝĚĞŶŐĂŶďƵůĂŶDĂƌĞƚϮϬϮϱ͕ŵĂƐŝŶŐͲŵĂƐŝŶŐ
ƐĞďĞƐĂƌZƉϮϭũƵƚĂĚĂŶZƉϱũƵƚĂ͘
^W <W E' DE'E^K^/>ED^zZ<d
ĂůĂŵ ƌĂŶŐŬĂ ŵĞŶŝŶŐŬĂƚŬĂŶ ŬƵĂůŝƚĂƐ ŬĞƐĞũĂŚƚĞƌĂĂŶ ŵĂƐLJĂƌĂŬĂƚ͘ WĞƌƐĞƌŽĂŶ ŵĞŶLJƵƐƵŶ ƉƌŽŐƌĂŵͲƉƌŽŐƌĂŵ
ƌĞůĞǀĂŶ LJĂŶŐ ĚĂƉĂƚ ŵĞŵďĞƌŝŬĂŶ ŵĂŶĨĂĂƚ ďĂŐŝ ŵĂƐLJĂƌĂŬĂƚ ƐĞŬŝƚĂƌ LJĂŶŐ ƚŝŶŐŐĂů Ěŝ ǁŝůĂLJĂŚ ŽƉĞƌĂƐŝ WĞƌƐĞƌŽĂŶ
ĚĞŶŐĂŶƚĞƚĂƉŵĞŶŐĂĐƵƉĂĚĂƉŝůĂƌͲƉŝůĂƌƉĞůĂŬƐĂŶĂĂŶ^ZWĞƌƐĞƌŽĂŶ͘
ŽƌƉŽƌĂƚĞ ŽŵŵƵŶŝĐĂƚŝŽŶ ŵĞƌƵƉĂŬĂŶ ĚŝǀŝƐŝ LJĂŶŐ ďĞƌƚƵŐĂƐ ŵĞŶŐŽŽƌĚŝŶĂƐŝ ƉĞůĂŬƐĂŶĂĂŶ ƉƌŽŐƌĂŵͲƉƌŽŐƌĂŵ
ƉĞŶŐĞŵďĂŶŐĂŶƐŽƐŝĂůĚĂŶŬĞŵĂƐLJĂƌĂŬĂƚĂŶ͘
^ĞůĂŵĂƚĂŚƵŶϮϬϮϰĚĂŶƐĂŵƉĂŝĚĞŶŐĂŶďƵůĂŶDĂƌĞƚϮϬϮϱ͕WĞƌƐĞƌŽĂŶƚĞůĂŚŵĞŶŐĞůƵĂƌŬĂŶďŝĂLJĂŵĂƐŝŶŐͲŵĂƐŝŶŐ
ƐĞďĞƐĂƌ ZƉϯϰϱ ũƵƚĂ ĚĂŶ ZƉϲϬ ũƵƚĂ ƵŶƚƵŬ ŵĞŶũĂůĂŶŬĂŶ ďĞƌďĂŐĂŝ ƉƌŽŐƌĂŵ ƉĞŶŐĞŵďĂŶŐĂŶ ƐŽƐŝĂů ĚĂŶ
ŬĞŵĂƐLJĂƌĂŬĂƚĂŶ͘
126
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dŝĚĂŬƚĞƌĚĂƉĂƚŬĞƚĞŶƚƵĂŶŚƵŬƵŵ͕ŬĞďŝũĂŬĂŶƉĞŵĞƌŝŶƚĂŚ͕ĂƚĂƵƉĞƌŵĂƐĂůĂŚĂŶĚŝďŝĚĂŶŐůŝŶŐŬƵŶŐĂŶŚŝĚƵƉLJĂŶŐ
ŵƵŶŐŬŝŶďĞƌĚĂŵƉĂŬŵĂƚĞƌŝĂůƚĞƌŚĂĚĂƉƉĞŶŐŐƵŶĂĂŶĂƐĞƚWĞƌƐĞƌŽĂŶ͕ũƵŐĂƚŝĚĂŬƚĞƌĚĂƉĂƚďŝĂLJĂLJĂŶŐĚŝŬĞůƵĂƌŬĂŶ
WĞƌƐĞƌŽĂŶĂƚĂƐƚĂŶŐŐƵŶŐũĂǁĂďƉĞŶŐĞůŽůĂĂŶůŝŶŐŬƵŶŐĂŶŚŝĚƵƉ͘
,<d^< <zE/Ed > <dh>;,</Ϳ
WĞƌƐĞƌŽĂŶŵĞŵŝůŝŬŝŚĂƌƚĂŬĞŬĂLJĂĂŶďĞƌƵƉĂ,ĂŬƚĂƐ<ĞŬĂLJĂĂŶ/ŶƚĞůĞŬƚƵĂůƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
EŽŵŽƌ͕dĂŶŐŐĂů :ĂŶŐŬĂtĂŬƚƵ :ĞŶŝƐ,ĂŬƚĂƐ :ƵĚƵůͬEĂŵĂ,ĂŬ
EŽŵŽƌ͕dĂŶŐŐĂů EĂŵĂ
EŽ͘ ^ĞƌƚŝĨŝŬĂƚͬ^ƵƌĂƚ ĞƌůĂŬƵŶLJĂ <ĞŬĂLJĂĂŶ ƚĂƐ<ĞŬĂLJĂĂŶ
WĞŶĚĂĨƚĂƌĂŶ WĞŵŝůŝŬ
WĞŶĚĂĨƚĂƌĂŶŝƉƚĂĂŶ WĞŶĚĂĨƚĂƌĂŶ /ŶƚĞůĞŬƚƵĂů /ŶƚĞůĞŬƚƵĂů
ϱϬƚĂŚƵŶ͕ƐĞũĂŬ
ϬϮϰϰϲϭ ,ĂŬŝƉƚĂͲ^ĞŶŝ
ϭ͘ ϭϵDĂƌĞƚϮϬϬϰ ƚĂŶŐŐĂůϭϱDĞŝ Η^ŝDŽĨŝΗ WĞƌƐĞƌŽĂŶ
ϭϵDĂƌĞƚϮϬϬϰ >ƵŬŝƐ
ϮϬϬϮ
ϭϬƚĂŚƵŶ͕
WĞƌƉĂŶũĂŶŐĂŶ
/DϬϬϬϬϬϲϴϬϱ :ϬϬͲϮϬϬϯͲϭϮϳϰϲͲϭϮϴϲϲ :ĂŶŐŬĂtĂŬƚƵ “Indomobil
Ϯ͘ DĞƌĞŬ WĞƌƐĞƌŽĂŶ
ϲDĞŝϮϬϬϰ ϲDĞŝϮϬϬϰ ƐĂŵƉĂŝĚĞŶŐĂŶ Finance”
ƚĂŶŐŐĂůϮϲDĞŝ
ϮϬϯϯ
ϭϬƚĂŚƵŶ͕
WĞƌƉĂŶũĂŶŐĂŶ
/DϬϬϬϬϬϲϳϲϬ :ϬϬͲϮϬϬϯͲϭϮϳϰϲͲϭϮϴϲϳ :ĂŶŐŬĂtĂŬƚƵ “Indomobil
ϯ͘ DĞƌĞŬ WĞƌƐĞƌŽĂŶ
ϲDĞŝϮϬϬϰ ϲDĞŝϮϬϬϰ ƐĂŵƉĂŝĚĞŶŐĂŶ Finance”
ƚĂŶŐŐĂůϮϲDĞŝ
ϮϬϯϯ
ϱϬƚĂŚƵŶ͕ƐĞũĂŬ
ϬϯϭϬϳϰ ,ĂŬŝƉƚĂͲ^ĞŶŝ Η/ŶĚŽŵŽďŝů
ϰ͘ ϮϯŐƵƐƚƵƐϮϬϬϲ ƚĂŶŐŐĂůϯ:ƵŶŝ WĞƌƐĞƌŽĂŶ
ϯ:ƵŶŝϮϬϬϯ >ŽŐŽ &ŝŶĂŶĐĞΗ
ϮϬϬϯ
ϭϬƚĂŚƵŶ͕ƐĞũĂŬ
/DϬϬϬϳϵϴϱϬϱ :ϬϬͲϮϬϭϲϬϯϵϭϬϭ
ϱ͘ ƚĂŶŐŐĂůϮϮ DĞƌĞŬ “EZ FOR YOU” WĞƌƐĞƌŽĂŶ
ϮϮŐƵƐƚƵƐϮϬϭϲ ϮϮŐƵƐƚƵƐϮϬϭϲ
ŐƵƐƚƵƐϮϬϭϲ
ϭϬdĂŚƵŶ͕ƐĂŵƉĂŝ /sKZz
:/ϮϬϮϯϬϮϳϱϰϱ /DϬϬϭϭϰϳϭϵϲ
ϲ͘ ĚĞŶŐĂŶƚĂŶŐŐĂů DĞƌĞŬ /ŵĨŝsŝƌƚƵĂů džƉŽ WĞƌƐĞƌŽĂŶ
ϯϭDĂƌĞƚϮϬϮϯ ϯϭĞƐĞŵďĞƌϮϬϮϯ
ϯϭDĂƌĞƚϮϬϯϯ ŶŶŝǀĞƌƐĂƌLJ
ϭϬdĂŚƵŶ͕ƐĂŵƉĂŝ
:/ϮϬϮϯϬϮϳϱϰϭ /DϬϬϭϭϰϳϮϮϭ
ϳ͘ ĚĞŶŐĂŶƚĂŶŐŐĂů DĞƌĞŬ /sKZz WĞƌƐĞƌŽĂŶ
ϯϭDĂƌĞƚϮϬϮϯ ϭϱĞƐĞŵďĞƌϮϬϮϯ
ϯϭDĂƌĞƚϮϬϯϯ
ϭϬdĂŚƵŶ͕ƐĂŵƉĂŝ
:/ϮϬϮϰϬϯϭϬϮϰ /DϬϬϭϮϲϴϬϵϱ /D&//EKDK/>
ϴ͘ ĚĞŶŐĂŶƚĂŶŐŐĂů DĞƌĞŬ WĞƌƐĞƌŽĂŶ
ϬϱƉƌŝůϮϬϮϰ ϭϳ:ĂŶƵĂƌŝϮϬϮϱ &/EE
ϬϱƉƌŝůϮϬϯϰ
ϭϬdĂŚƵŶ͕ƐĂŵƉĂŝ
:/ϮϬϮϰϬϯϭϬϮϯ /DϬϬϭϮϲϴϭϭϭ
ϵ͘ ĚĞŶŐĂŶƚĂŶŐŐĂů DĞƌĞŬ /D&/^zZ/, WĞƌƐĞƌŽĂŶ
ϱƉƌŝůϮϬϮϰ ϭϳ:ĂŶƵĂƌŝϮϬϮϱ
ϬϱƉƌŝůϮϬϯϰ
WĂĚĂƚĂŶŐŐĂůĚŝƚĞƌďŝƚŬĂŶŶLJĂWƌŽƐƉĞŬƚƵƐŝŶŝ͕WĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝŬĞƚĞƌŐĂŶƚƵŶŐĂŶLJĂŶŐƐŝŐŶŝĨŝŬĂŶƚĞƌŚĂĚĂƉ
ƚĞƌŚĂĚĂƉŬŽŶƚƌĂŬŝŶĚƵƐƚƌŝĂů͕ŬŽŵĞƌƐŝĂů͕ĂƚĂƵŬĞƵĂŶŐĂŶƚĞƌŵĂƐƵŬŬŽŶƚƌĂŬĚĞŶŐĂŶƉĞůĂŶŐŐĂŶ͕ƉĞŵĂƐŽŬ͕ĚĂŶͬĂƚĂƵ
WĞŵĞƌŝŶƚĂŚ͘
127
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/y͘ W ZW:<E
A. PERPAJAKAN UNTUK PEMEGANG OBLIGASI
WĂũĂŬĂƚĂƐƉĞŶŐŚĂƐŝůĂŶLJĂŶŐĚŝƉĞƌŽůĞŚĚĂƌŝŬĞƉĞŵŝůŝŬĂŶKďůŝŐĂƐŝLJĂŶŐĚŝƚĞƌŝŵĂĂƚĂƵĚŝƉĞƌŽůĞŚWĞŵĞŐĂŶŐKďůŝŐĂƐŝ
ĚŝƉĞƌŚŝƚƵŶŐŬĂŶĚĂŶĚŝƉĞƌůĂŬƵŬĂŶƐĞƐƵĂŝĚĞŶŐĂŶWĞƌĂƚƵƌĂŶWĞƌƉĂũĂŬĂŶLJĂŶŐďĞƌůĂŬƵ͘
ĞƌĚĂƐĂƌŬĂŶWĞƌĂƚƵƌĂŶWĞŵĞƌŝŶƚĂŚEŽ͘ϵϭdĂŚƵŶϮϬϮϭƚĂŶŐŐĂůϯϬŐƵƐƚƵƐϮϬϮϭƚĞŶƚĂŶŐWĂũĂŬWĞŶŐŚĂƐŝůĂŶĂƚĂƐ
WĞŶŐŚĂƐŝůĂŶĞƌƵƉĂƵŶŐĂKďůŝŐĂƐŝ͕ƉĞŶŐŚĂƐŝůĂŶLJĂŶŐĚŝƚĞƌŝŵĂĂƚĂƵĚŝƉĞƌŽůĞŚďĂŐŝtĂũŝďWĂũĂŬďĞƌƵƉĂďƵŶŐĂ
ŽďůŝŐĂƐŝĚĂŶĚŝƐŬŽŶƚŽŽďůŝŐĂƐŝĚŝŬĞŶĂŬĂŶƉĞŵŽƚŽŶŐĂŶWĂũĂŬWĞŶŐŚĂƐŝůĂŶLJĂŶŐďĞƌƐŝĨĂƚĨŝŶĂů͗
ŝ͘ ĂƚĂƐďƵŶŐĂĚĂƌŝŽďůŝŐĂƐŝĚĞŶŐĂŶŬƵƉŽŶ;ŝŶƚĞƌĞƐƚďĞĂƌŝŶŐĚĞďƚƐĞĐƵƌŝƚŝĞƐͿƐĞďĞƐĂƌ͗ϭϬй;ƐĞƉƵůƵŚƉĞƌƐĞŶͿďĂŐŝ
tĂũŝď WĂũĂŬ ĚĂůĂŵ ŶĞŐĞƌŝ ĚĂŶ ďĞŶƚƵŬ ƵƐĂŚĂ ƚĞƚĂƉ ĂƚĂƵ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ƚĂƌŝĨ ďĞƌĚĂƐĂƌŬĂŶ ƉĞƌƐĞƚƵũƵĂŶ
ƉĞŶŐŚŝŶĚĂƌĂŶ ƉĂũĂŬ ďĞƌŐĂŶĚĂ ďĂŐŝ tĂũŝď WĂũĂŬ ůƵĂƌ ŶĞŐĞƌŝ ƐĞůĂŝŶ ďĞŶƚƵŬ ƵƐĂŚĂ ƚĞƚĂƉ ĚĂƌŝ ũƵŵůĂŚ ďƌƵƚŽ
ďƵŶŐĂƐĞƐƵĂŝĚĞŶŐĂŶŵĂƐĂŬĞƉĞŵŝůŝŬĂŶŽďůŝŐĂƐŝ͖
ĂƚĂƐĚŝƐŬŽŶƚŽĚĂƌŝŽďůŝŐĂƐŝĚĞŶŐĂŶŬƵƉŽŶƐĞďĞƐĂƌ͗ϭϬй;ƐĞƉƵůƵŚƉĞƌƐĞŶͿďĂŐŝtĂũŝďWĂũĂŬĚĂůĂŵŶĞŐĞƌŝĚĂŶ
ďĞŶƚƵŬƵƐĂŚĂƚĞƚĂƉĂƚĂƵƐĞƐƵĂŝĚĞŶŐĂŶƚĂƌŝĨďĞƌĚĂƐĂƌŬĂŶƉĞƌƐĞƚƵũƵĂŶƉĞŶŐŚŝŶĚĂƌĂŶƉĂũĂŬďĞƌŐĂŶĚĂďĂŐŝ
tĂũŝďWĂũĂŬůƵĂƌŶĞŐĞƌŝƐĞůĂŝŶďĞŶƚƵŬƵƐĂŚĂƚĞƚĂƉ͕ĚĂƌŝƐĞůŝƐŝŚůĞďŝŚŚĂƌŐĂũƵĂůĂƚĂƵŶŝůĂŝŶŽŵŝŶĂůĚŝĂƚĂƐ
ŚĂƌŐĂƉĞƌŽůĞŚĂŶŽďůŝŐĂƐŝ͕ƚŝĚĂŬƚĞƌŵĂƐƵŬďƵŶŐĂďĞƌũĂůĂŶ͖
ŝŝ͘ ĂƚĂƐĚŝƐŬŽŶƚŽĚĂƌŝŽďůŝŐĂƐŝƚĂŶƉĂďƵŶŐĂ;njĞƌŽĐŽƵƉŽŶďŽŶĚͿĂƚĂƵŶŽŶͲŝŶƚĞƌĞƐƚďĞĂƌŝŶŐĚĞďƚƐĞĐƵƌŝƚŝĞƐƐĞďĞƐĂƌ
ϭϱйďĂŐŝtĂũŝďWĂũĂŬĚĂůĂŵŶĞŐĞƌŝĚĂŶ ĞŶƚƵŬ hƐĂŚĂdĞƚĂƉ;hdͿĚĂŶϮϬйĂƚĂƵƚĂƌŝĨƐĞƐƵĂŝŬĞƚĞŶƚƵĂŶ
WĞƌƐĞƚƵũƵĂŶWĞŶŐŚŝŶĚĂƌĂŶWĂũĂŬĞƌŐĂŶĚĂ;WϯͿLJĂŶŐďĞƌůĂŬƵďĂŐŝtĂũŝďWĂũĂŬůƵĂƌŶĞŐĞƌŝ͕ƐĞůĂŝŶďĞŶƚƵŬ
ƵƐĂŚĂƚĞƚĂƉ͘:ƵŵůĂŚLJĂŶŐƚĞƌŬĞŶĂƉĂũĂŬĚŝŚŝƚƵŶŐĚĂƌŝƐĞůŝƐŝŚůĞďŝŚŚĂƌŐĂũƵĂůĂƚĂƵŶŝůĂŝŶŽŵŝŶĂůĚŝĂƚĂƐŚĂƌŐĂ
ƉĞƌŽůĞŚĂŶŽďůŝŐĂƐŝ͘
ŝŝŝ͘ ĂƚĂƐĚŝƐŬŽŶƚŽĚĂƌŝŽďůŝŐĂƐŝƚĂŶƉĂďƵŶŐĂ;njĞƌŽĐŽƵƉŽŶďŽŶĚͿƐĞďĞƐĂƌ͗ϭϬй;ƐĞƉƵůƵŚƉĞƌƐĞŶͿďĂŐŝtĂũŝďWĂũĂŬ
ĚĂůĂŵŶĞŐĞƌŝĚĂŶďĞŶƚƵŬƵƐĂŚĂƚĞƚĂƉĂƚĂƵƐĞƐƵĂŝĚĞŶŐĂŶƚĂƌŝĨďĞƌĚĂƐĂƌŬĂŶƉĞƌƐĞƚƵũƵĂŶƉĞŶŐŚŝŶĚĂƌĂŶƉĂũĂŬ
ďĞƌŐĂŶĚĂ ďĂŐŝ tĂũŝď WĂũĂŬ ůƵĂƌ ŶĞŐĞƌŝ ƐĞůĂŝŶ ďĞŶƚƵŬ ƵƐĂŚĂ ƚĞƚĂƉ͕ ĚĂƌŝ ƐĞůŝƐŝŚ ůĞďŝŚ ŚĂƌŐĂ ũƵĂů ĂƚĂƵ ŶŝůĂŝ
ŶŽŵŝŶĂůĚŝĂƚĂƐŚĂƌŐĂƉĞƌŽůĞŚĂŶŽďůŝŐĂƐŝ͖
ŝǀ͘ ĂƚĂƐďƵŶŐĂĚĂŶͬĂƚĂƵĚŝƐŬŽŶƚŽĚĂƌŝŽďůŝŐĂƐŝLJĂŶŐĚŝƚĞƌŝŵĂĚĂŶͬĂƚĂƵĚŝƉĞƌŽůĞŚtĂũŝďWĂũĂŬƌĞŬƐĂĚĂŶĂĚĂŶ
tĂũŝď WĂũĂŬ ĚĂŶĂ ŝŶǀĞƐƚĂƐŝ ŝŶĨƌĂƐƚƌƵŬƚƵƌ ďĞƌďĞŶƚƵŬ ŬŽŶƚƌĂŬ ŝŶǀĞƐƚĂƐŝ ŬŽůĞŬƚŝĨ͕ ĚĂŶĂ ŝŶǀĞƐƚĂƐŝ ƌĞĂů ĞƐƚĂƚ
ďĞƌďĞŶƚƵŬ ŬŽŶƚƌĂŬ ŝŶǀĞƐƚĂƐŝ ŬŽůĞŬƚŝĨ͕ ĚĂŶ ĞĨĞŬ ďĞƌĂŐƵŶ ĂƐĞƚ ďĞƌďĞŶƚƵŬ ŬŽŶƚƌĂŬ ŝŶǀĞƐƚĂƐŝ ŬŽůĞŬƚŝĨ LJĂŶŐ
ƚĞƌĚĂĨƚĂƌĂƚĂƵƚĞƌĐĂƚĂƚƉĂĚĂK:<ƐĞďĞƐĂƌϭϬйƵŶƚƵŬƚĂŚƵŶϮϬϮϭĚĂŶƐĞƚĞƌƵƐŶLJĂ͘
WĞŵŽƚŽŶŐĂŶƉĂũĂŬLJĂŶŐďĞƌƐŝĨĂƚĨŝŶĂůŝŶŝƚŝĚĂŬĚŝŬĞŶĂŬĂŶƚĞƌŚĂĚĂƉďƵŶŐĂĂƚĂƵĚŝƐŬŽŶƚŽŽďůŝŐĂƐŝLJĂŶŐĚŝƚĞƌŝŵĂ
ĂƚĂƵĚŝƉĞƌŽůĞŚtĂũŝďWĂũĂŬ͗
ϭ͘ ĂŶĂ ƉĞŶƐŝƵŶ LJĂŶŐ ƉĞŶĚŝƌŝĂŶ ĂƚĂƵ ƉĞŵďĞŶƚƵŬĂŶŶLJĂ ƚĞůĂŚ ĚŝƐĂŚŬĂŶ ŽůĞŚ DĞŶƚĞƌŝ <ĞƵĂŶŐĂŶ ĂƚĂƵ ƚĞůĂŚ
ŵĞŶĚĂƉĂƚŬĂŶŝnjŝŶĚĂƌŝK:<ĚĂŶŵĞŵĞŶƵŚŝƉĞƌƐLJĂƌĂƚĂŶƐĞďĂŐĂŝŵĂŶĂĚŝĂƚƵƌĚĂůĂŵWĂƐĂůϰĂLJĂƚ;ϯͿŚƵƌƵĨŚ
hŶĚĂŶŐͲhŶĚĂŶŐ EŽ͘ ϳ dĂŚƵŶ ϭϵϴϯ ƚĞŶƚĂŶŐ WĂũĂŬ WĞŶŐŚĂƐŝůĂŶ ƐĞďĂŐĂŝŵĂŶĂ ƚĞůĂŚ ďĞďĞƌĂƉĂ ŬĂůŝ ĚŝƵďĂŚ
ƚĞƌĂŬŚŝƌĚĞŶŐĂŶhŶĚĂŶŐͲhŶĚĂŶŐEŽ͘ϭϭdĂŚƵŶϮϬϮϬƚĞŶƚĂŶŐŝƉƚĂ<ĞƌũĂ͖ĚĂŶ
Ϯ͘ ĂŶŬLJĂŶŐĚŝĚŝƌŝŬĂŶĚŝ/ŶĚŽŶĞƐŝĂĂƚĂƵĐĂďĂŶŐďĂŶŬůƵĂƌŶĞŐĞƌŝĚŝ/ŶĚŽŶĞƐŝĂ͘
CALON PEMBELI OBLIGASI DALAM PENAWARAN UMUM INI DIHARAPKAN UNTUK BERKONSULTASI DENGAN
KONSULTAN PAJAK MASING-MASING MENGENAI AKIBAT PERPAJAKAN YANG TIMBUL DARI PENERIMAAN
BUNGA OBLIGASI, PEMBELIAN, PEMILIKAN MAUPUN PENJUALAN OBLIGASI YANG DIBELI MELALUI
PENAWARAN UMUM INI.
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B. PEMENUHAN PERPAJAKAN OLEH PERSEROAN
^ĞďĂŐĂŝtĂũŝďWĂũĂŬ͕WĞƌƐĞƌŽĂŶƚĞůĂŚŵĞŵĞŶƵŚŝŬĞǁĂũŝďĂŶƉĞƌƉĂũĂŬĂŶƐĞƐƵĂŝĚĞŶŐĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶĚĂŶ
ƉĞƌĂƚƵƌĂŶƉĞƌƉĂũĂŬĂŶLJĂŶŐďĞƌůĂŬƵ͘^ĂŵƉĂŝĚĞŶŐĂŶƚĂŶŐŐĂůWƌŽƐƉĞŬƚƵƐŝŶŝĚŝƚĞƌďŝƚŬĂŶ͕WĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵŝůŝŬŝ
ƚƵŶŐŐĂŬĂŶƉĂũĂŬ͘
^ĂŵƉĂŝ ĚĞŶŐĂŶ WƌŽƐƉĞŬƚƵƐ ŝŶŝ ĚŝƚĞƌďŝƚŬĂŶ͕ ƚŝĚĂŬ ĂĚĂ ĨĂƐŝůŝƚĂƐ ŬŚƵƐƵƐ LJĂŶŐ ĚŝƉĞƌŽůĞŚ WĞƌƐĞƌŽĂŶ ƐĞŚƵďƵŶŐĂŶ
ĚĞŶŐĂŶWĞƌƉĂũĂŬĂŶ͘
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y͘ W E:D/EE D/^/K>/'^/
ĞƌĚĂƐĂƌŬĂŶ ƉĞƌƐLJĂƌĂƚĂŶ ĚĂŶ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ LJĂŶŐ ƚĞƌĐĂŶƚƵŵ Ěŝ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ WĞŶũĂŵŝŶĂŶ ŵŝƐŝ
KďůŝŐĂƐŝ͕ WĞŶũĂŵŝŶ WĞůĂŬƐĂŶĂ ŵŝƐŝ KďůŝŐĂƐŝ LJĂŶŐ ŶĂŵĂŶLJĂ ƚĞƌĐĂŶƚƵŵ Ěŝ ďĂǁĂŚ ŝŶŝ ƚĞůĂŚ ŵĞŶLJĞƚƵũƵŝ ƵŶƚƵŬ
ŵĞŶĂǁĂƌŬĂŶ ŬĞƉĂĚĂ ŵĂƐLJĂƌĂŬĂƚ KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ
dĂŚĂƉ / dĂŚƵŶ ϮϬϮϱ ƐĞĐĂƌĂ ŬĞƐĂŶŐŐƵƉĂŶ ƉĞŶƵŚ ;ĨƵůů ĐŽŵŵŝƚŵĞŶƚͿ ĚĞŶŐĂŶ ũƵŵůĂŚ ƉŽŬŽŬ ƐĞďĞƐĂƌ
ZƉϭ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ƐĂƚƵƚƌŝůŝƵŶZƵƉŝĂŚͿ͘
^ƵƐƵŶĂŶĚĂŶũƵŵůĂŚ ƉŽƌƐŝƐĞƌƚĂƉĞƌƐĞŶƚĂƐĞĚĂƌŝĂŶŐŐŽƚĂ WĞŶũĂŵŝŶ ŵŝƐŝKďůŝŐĂƐŝĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚ͕ŬĞĐƵĂůŝĚŝŶLJĂƚĂŬĂŶůĂŝŶͿ
WŽƌƐŝWĞŶũĂŵŝŶĂŶ dŽƚĂů
<ĞƚĞƌĂŶŐĂŶ ;йͿ
^Ğƌŝ ^Ğƌŝ ^Ğƌŝ WĞŶũĂŵŝŶĂŶ
WĞŶũĂŵŝŶWĞůĂŬƐĂŶĂ ŵŝƐŝĚĂŶWĞŶũĂŵŝŶ ŵŝƐŝ
WdZ/ĂŶĂƌĞŬƐĂ^ĞŬƵƌŝƚĂƐ ϴϲ͘ϱϬϬ ϭϬ͘ϬϬϬ ϮϬ͘ϬϬϬ ϭϭϲ͘ϱϬϬ ϭϭ͕ϲϱй
Wd/D EŝĂŐĂ^ĞŬƵƌŝƚĂƐ ϴϲ͘ϱϬϬ ϵ͘ϬϬϬ ϯϭ͘ϬϬϬ ϭϮϲ͘ϱϬϬ ϭϮ͕ϲϱй
Wd^sŝĐŬĞƌƐ^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂ ϴϳ͘ϬϬϬ ϱ͘ϬϬϬ Ͳ ϵϮ͘ϬϬϬ ϵ͕ϮϬй
Wd/ŶĚŽWƌĞŵŝĞƌ^ĞŬƵƌŝƚĂƐ Ͳ ϯϭ͘ϬϬϬ Ϯϯϲ͘ϬϬϬ Ϯϲϳ͘ϬϬϬ Ϯϲ͕ϳϬй
WdDĂŶĚŝƌŝ^ĞŬƵƌŝƚĂƐ ϴϳ͘ϬϬϬ ϮϬ͘ϬϬϬ ϱϱ͘ϬϬϬ ϭϲϮ͘ϬϬϬ ϭϲ͕ϮϬй
WdZ,^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂ ϴϲ͘ϱϬϬ ϱ͘ϬϬϬ ϭϳ͘ϬϬϬ ϭϬϴ͘ϱϬϬ ϭϬ͕ϴϱй
WddƌŝŵĞŐĂŚ ^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂdďŬ͘ ϴϲ͘ϱϬϬ Ͳ ϰϭ͘ϬϬϬ ϭϮϳ͘ϱϬϬ ϭϮ͕ϳϱй
dKd> ϱϮϬ͘ϬϬϬ ϴϬ͘ϬϬϬ ϰϬϬ͘ϬϬϬ ϭ͘ϬϬϬ͘ϬϬϬ ϭϬϬ͕ϬϬй
^ĞůĂŶũƵƚŶLJĂWĞŶũĂŵŝŶ ŵŝƐŝKďůŝŐĂƐŝLJĂŶŐŝŬƵƚĚĂůĂŵWĞƌũĂŶũŝĂŶWĞŶũĂŵŝŶĂŶ ŵŝƐŝKďůŝŐĂƐŝŝŶŝƚĞůĂŚƐĞƉĂŬĂƚƵŶƚƵŬ
ŵĞůĂŬƐĂŶĂŬĂŶ ƚƵŐĂƐŶLJĂŵĂƐŝŶŐͲŵĂƐŝŶŐ ƐĞƐƵĂŝĚĞŶŐĂŶWĞƌĂƚƵƌĂŶEŽ͘/y͘͘ϳƚĞŶƚĂŶŐ WĞŵĞƐĂŶĂŶĚĂŶWĞŶũĂƚĂŚĂŶ
ĨĞŬĂůĂŵWĞŶĂǁĂƌĂŶhŵƵŵ͕ >ĂŵƉŝƌĂŶ<ĞƉƵƚƵƐĂŶ<ĞƚƵĂĂƉĞƉĂŵEŽ͘<ĞƉͲϲϵϭͬ>ͬϮϬϭϭƚĂŶŐŐĂůϯϬĞƐĞŵďĞƌ
ϮϬϭϭ͘
ĞƌĚĂƐĂƌŬĂŶƉĂƐĂůϭĂŶŐŬĂϭhhWD ƐĞďĂŐĂŝŵĂŶĂ ĚŝƵďĂŚĚĞŶŐĂŶhhWϮ^<͕ĨŝůŝĂƐŝďĞƌĂƌƚŝ͗
Ă͘ ŚƵďƵŶŐĂŶ ŬĞůƵĂƌŐĂ ŬĂƌĞŶĂ ƉĞƌŬĂǁŝŶĂŶ ƐĂŵƉĂŝ ĚĞŶŐĂŶ ĚĞƌĂũĂƚ ŬĞĚƵĂ͕ ďĂŝŬ ƐĞĐĂƌĂ ŚŽƌŝnjŽŶƚĂů ŵĂƵƉƵŶ
ǀĞƌƚŝŬĂů͕LJĂŝƚƵŚƵďƵŶŐĂŶƐĞƐĞŽƌĂŶŐĚĞŶŐĂŶ͗
ϭ͘ ƐƵĂŵŝĂƚĂƵ ŝƐƚƌŝ͖
Ϯ͘ ŽƌĂŶŐƚƵĂĚĂƌŝƐƵĂŵŝ ĂƚĂƵŝƐƚƌŝĚĂŶƐƵĂŵŝĂƚĂƵ ŝƐƚƌŝĚĂƌŝĂŶĂŬ͖
ϯ͘ ŬĂŬĞŬĚĂŶŶĞŶĞŬĚĂƌŝƐƵĂŵŝ ĂƚĂƵŝƐƚƌŝĚĂŶƐƵĂŵŝĂƚĂƵŝƐƚƌŝĚĂƌŝĐƵĐƵ͖
ϰ͘ ƐĂƵĚĂƌĂĚĂƌŝƐƵĂŵŝ ĂƚĂƵŝƐƚƌŝďĞƐĞƌƚĂƐƵĂŵŝ ĂƚĂƵŝƐƚƌŝŶLJĂĚĂƌŝƐĂƵĚĂƌĂLJĂŶŐ
ϱ͘ ďĞƌƐĂŶŐŬƵƚĂŶ͖ĂƚĂƵ
ϲ͘ ƐƵĂŵŝĂƚĂƵ ŝƐƚƌŝĚĂƌŝƐĂƵĚĂƌĂŽƌĂŶŐLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͘
ď͘ ŚƵďƵŶŐĂŶŬĞůƵĂƌŐĂŬĂƌĞŶĂŬĞƚƵƌƵŶĂŶƐĂŵƉĂŝĚĞŶŐĂŶĚĞƌĂũĂƚŬĞĚƵĂ͕ďĂŝŬƐĞĐĂƌĂŚŽƌŝnjŽŶƚĂůŵĂƵƉƵŶ ǀĞƌƚŝŬĂů͕
LJĂŝƚƵŚƵďƵŶŐĂŶƐĞƐĞŽƌĂŶŐĚĞŶŐĂŶ͗
ϭ͘ ŽƌĂŶŐƚƵĂĚĂŶĂŶĂŬ͖
Ϯ͘ ŬĂŬĞŬĚĂŶŶĞŶĞŬƐĞƌƚĂĐƵĐƵ͖ĂƚĂƵ
ϯ͘ ƐĂƵĚĂƌĂĚĂƌŝŽƌĂŶŐLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͘
Đ͘ ŚƵďƵŶŐĂŶĂŶƚĂƌĂƉŝŚĂŬĚĞŶŐĂŶŬĂƌLJĂǁĂŶ͕ ĚŝƌĞŬƚƵƌ͕ĂƚĂƵŬŽŵŝƐĂƌŝƐĚĂƌŝƉŝŚĂŬƚĞƌƐĞďƵƚ͖
Ě͘ ŚƵďƵŶŐĂŶĂŶƚĂƌĂϮ;ĚƵĂͿĂƚĂƵ ůĞďŝŚƉĞƌƵƐĂŚĂĂŶĚŝŵĂŶĂƚĞƌĚĂƉĂƚ ƐĂƚƵĂƚĂƵůĞďŝŚĂŶŐŐŽƚĂ ĚŝƌĞŬƐŝ͕ƉĞŶŐƵƌƵƐ͕
ĚĞǁĂŶŬŽŵŝƐĂƌŝƐ͕ĂƚĂƵ ƉĞŶŐĂǁĂƐLJĂŶŐƐĂŵĂ͖
Ğ͘ ŚƵďƵŶŐĂŶ ĂŶƚĂƌĂ ƉĞƌƵƐĂŚĂĂŶ ĚĂŶ ƉŝŚĂŬ͕ ďĂŝŬ ůĂŶŐƐƵŶŐ ŵĂƵƉƵŶ ƚŝĚĂŬ ůĂŶŐƐƵŶŐ͕ ĚĞŶŐĂŶ ĐĂƌĂ ĂƉĂ ƉƵŶ͕
ŵĞŶŐĞŶĚĂůŝŬĂŶ ĂƚĂƵ ĚŝŬĞŶĚĂůŝŬĂŶ ŽůĞŚ ƉĞƌƵƐĂŚĂĂŶ ĂƚĂƵ ƉŝŚĂŬ ƚĞƌƐĞďƵƚ ĚĂůĂŵ ŵĞŶĞŶƚƵŬĂŶ ƉĞŶŐĞůŽůĂĂŶ
ĚĂŶͬĂƚĂƵ ŬĞďŝũĂŬĂŶƉĞƌƵƐĂŚĂĂŶĂƚĂƵ ƉŝŚĂŬĚŝŵĂŬƐƵĚ͖
Ĩ͘ ŚƵďƵŶŐĂŶ ĂŶƚĂƌĂ Ϯ;ĚƵĂͿĂƚĂƵ ůĞďŝŚƉĞƌƵƐĂŚĂĂŶ LJĂŶŐĚŝŬĞŶĚĂůŝŬĂŶ͕ ďĂŝŬůĂŶŐƐƵŶŐ ŵĂƵƉƵŶ ƚŝĚĂŬ ůĂŶŐƐƵŶŐ͕
ĚĞŶŐĂŶ ĐĂƌĂ ĂƉĂ ƉƵŶ͕ ĚĂůĂŵ ŵĞŶĞŶƚƵŬĂŶ ƉĞŶŐĞůŽůĂĂŶ ĚĂŶͬ ĂƚĂƵ ŬĞďŝũĂŬĂŶ ƉĞƌƵƐĂŚĂĂŶ ŽůĞŚ ƉŝŚĂŬ LJĂŶŐ
ƐĂŵĂ͖ĂƚĂƵ
Ő͘ ŚƵďƵŶŐĂŶĂŶƚĂƌĂ ƉĞƌƵƐĂŚĂĂŶĚĂŶƉĞŵĞŐĂŶŐƐĂŚĂŵ ƵƚĂŵĂ LJĂŝƚƵƉŝŚĂŬLJĂŶŐƐĞĐĂƌĂůĂŶŐƐƵŶŐŵĂƵƉƵŶ ƚŝĚĂŬ
ůĂŶŐƐƵŶŐŵĞŵŝůŝŬŝƉĂůŝŶŐŬƵƌĂŶŐϮϬй;ĚƵĂƉƵůƵŚƉĞƌƐĞŶͿƐĂŚĂŵ LJĂŶŐŵĞŵƉƵŶLJĂŝŚĂŬƐƵĂƌĂĚĂƌŝƉĞƌƵƐĂŚĂĂŶ
ƚĞƌƐĞďƵƚ͘
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Wd Z/ ĂŶĂƌĞŬƐĂ ^ĞŬƵƌŝƚĂƐ͕ Wd /D EŝĂŐĂ ^ĞŬƵƌŝƚĂƐ͕ Wd ^ sŝĐŬĞƌƐ ^ĞŬƵƌŝƚĂƐ /ŶĚŽŶĞƐŝĂ͕ Wd /ŶĚŽ WƌĞŵŝĞƌ
^ĞŬƵƌŝƚĂƐ͕ Wd DĂŶĚŝƌŝ ^ĞŬƵƌŝƚĂƐ͕ Wd Z, ^ĞŬƵƌŝƚĂƐ /ŶĚŽŶĞƐŝĂ ĚĂŶ WddƌŝŵĞŐĂŚ ^ĞŬƵƌŝƚĂƐ /ŶĚŽŶĞƐŝĂ dďŬ ƐĞůĂŬƵ
WĞŶũĂŵŝŶ ŵŝƐŝ ĚĂŶ WĞŶũĂŵŝŶ WĞůĂŬƐĂŶĂ ŵŝƐŝ KďůŝŐĂƐŝ ďƵŬĂŶ ŵĞƌƵƉĂŬĂŶ ƉŝŚĂŬ ƚĞƌĂĨŝůŝĂƐŝ ĚĞŶŐĂŶ WĞƌƐĞƌŽĂŶ
ƐĞƐƵĂŝĚĞŶŐĂŶĚĞĨŝŶŝƐŝĨŝůŝĂƐŝĚĂůĂŵ hhWϮ^<͕͘ ^ĞďĂŐĂŝŵĂŶĂ ƚĞůĂŚĚŝƵŶŐŬĂƉŬĂŶĚŝĚĂůĂŵWĞƌũĂŶũŝĂŶWĞŶũĂŵŝŶĂŶ
ŵŝƐŝ KďůŝŐĂƐŝ͕ DĂŶĂũĞƌ WĞŶũĂƚĂŚĂŶ ƵŶƚƵŬ WĞŶĂǁĂƌĂŶ hŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶ KďůŝŐĂƐŝ ŝŶŝ ĂĚĂůĂŚ Wd DĂŶĚŝƌŝ
^ĞŬƵƌŝƚĂƐ͘
DĞƚŽĚĞWĞŶĞŶƚƵĂŶdŝŶŐŬĂƚ ^ƵŬƵƵŶŐĂ KďůŝŐĂƐŝ
dŝŶŐŬĂƚ ƵŶŐĂ KďůŝŐĂƐŝ ĚŝƚĞŶƚƵŬĂŶ ďĞƌĚĂƐĂƌŬĂŶ ŚĂƐŝů ŬĞƐĞƉĂŬĂƚĂŶ ĚĂŶŶĞŐŽƐŝĂƐŝ WĞƌƐĞƌŽĂŶĚĞŶŐĂŶ WĞŶũĂŵŝŶ
WĞůĂŬƐĂŶĂ ŵŝƐŝ KďůŝŐĂƐŝ ĚĞŶŐĂŶ ŵĞŵƉĞƌƚŝŵďĂŶŐŬĂŶ ďĞďĞƌĂƉĂĨĂŬƚŽƌ ĚĂŶ ƉĂƌĂŵĞƚĞƌ͕ LJĂŝƚƵ ŚĂƐŝů ƉĞŶĂǁĂƌĂŶ
ĂǁĂů ;ŬďƵŝůĚŝŶŐͿ͕ ŬŽŶĚŝƐŝ ƉĂƐĂƌ ŽďůŝŐĂƐŝ͕ ďĞŶĐŚŵĂƌŬ ŬĞƉĂĚĂ ŽďůŝŐĂƐŝ WĞŵĞƌŝŶƚĂŚ ;ƐĞƐƵĂŝ ũĂƚƵŚ ƚĞŵƉŽ
KďůŝŐĂƐŝͿ͕ĚĂŶƌŝƐŬƉƌĞŵŝƵŵ;ƐĞƐƵĂŝĚĞŶŐĂŶƉĞŵĞƌŝŶŐŬĂƚĂŶ ĚĂƌŝKďůŝŐĂƐŝͿ͘
131
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y/͘ < d ZE'Ed EdE't>/DEd
Dalam rangka Penawaran Umum Obligasi, PT Bank Mega Tbk (“ĂŶŬDĞŐĂ”) bertindak sebagai Wali Amanat
ĂƚĂƵ ďĂĚĂŶ LJĂŶŐ ĚŝďĞƌŝ ŬĞƉĞƌĐĂLJĂĂŶ ƵŶƚƵŬ ŵĞǁĂŬŝůŝ ŬĞƉĞŶƚŝŶŐĂŶ ƉĂƌĂ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ƐĞďĂŐĂŝŵĂŶĂ
ĚŝƚĞƚĂƉŬĂŶĚĂůĂŵhhWD͘
ĂŶŬ DĞŐĂ ĚĂůĂŵ ƉĞŶĞƌďŝƚĂŶ KďůŝŐĂƐŝŝŶŝ ďĞƌƚŝŶĚĂŬ ƐĞďĂŐĂŝ tĂůŝ ŵĂŶĂƚ ĚĂŶ ƚĞůĂŚ ƚĞƌĚĂĨƚĂƌ ĚŝK:< ĚĞŶŐĂŶ
EŽ͘ ϮϬͬ^ddͲtͬWDͬϮϬϬϬ ƚĂŶŐŐĂů Ϯ ŐƵƐƚƵƐ ϮϬϬϬ ƐĞƐƵĂŝ ĚĞŶŐĂŶ hŶĚĂŶŐͲhŶĚĂŶŐ EŽ͘ ϴ dĂŚƵŶ ϭϵϵϱ ƐĞƌƚĂ
WĞƌĂƚƵƌĂŶWĞŵĞƌŝŶƚĂŚZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂEŽ͘ϰϱdĂŚƵŶϭϵϵϱƚĞŶƚĂŶŐWĞŶLJĞůĞŶŐŐĂƌĂĂŶ<ĞŐŝĂƚĂŶĚŝŝĚĂŶŐWĂƐĂƌ
DŽĚĂů͘
^ĞŚƵďƵŶŐĂŶĚĞŶŐĂŶƉĞŶĞƌďŝƚĂŶKďůŝŐĂƐŝ͕WĞƌƐĞƌŽĂŶĚĂŶĂŶŬDĞŐĂƐĞůĂŬƵtĂůŝŵĂŶĂƚƚĞůĂŚŵĞŶĂŶĚĂƚĂŶŐĂŶŝ
WĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͘
ĞƌĚĂƐĂƌŬĂŶ͗
Ͳ ^ƵƌĂƚƉĞƌŶLJĂƚĂĂŶEŽ͘ϬϳϱϮͬD^ͲtͬϮϱƚĂŶŐŐĂůϱDĂƌĞƚϮϬϮϱ͕tĂůŝŵĂŶĂƚŵĞŶLJĂƚĂŬĂŶƐĞůĂŵĂŵĞŶũĂĚŝ
tĂůŝŵĂŶĂƚƚŝĚĂŬĂŬĂŶ͗
;ŝͿ ŵĞŵƉƵŶLJĂŝ ŚƵďƵŶŐĂŶ ŬƌĞĚŝƚ ĚĞŶŐĂŶ WĞƌƐĞƌŽĂŶ ĚĂůĂŵ ũƵŵůĂŚ LJĂŶŐ ŵĞůĞďŝŚŝ ŬĞƚĞŶƚƵĂŶ ĚĂůĂŵ
WĞƌĂƚƵƌĂŶEŽ͘ϭϵͬϮϬϮϬ͖
;ŝŝͿ ŵĞŶĞƌŝŵĂĚĂŶŵĞŵŝŶƚĂƉĞůƵŶĂƐĂŶƚĞƌůĞďŝŚĚĂŚƵůƵĂƚĂƐŬĞǁĂũŝďĂŶWĞƌƐĞƌŽĂŶŬĞƉĂĚĂĂŶŬDĞŐĂLJĂŶŐ
ŵĞůĂŬƵŬĂŶŬĞŐŝĂƚĂŶƐĞďĂŐĂŝtĂůŝŵĂŶĂƚƐĞůĂŬƵŬƌĞĚŝƚƵƌĚĂůĂŵŚĂůWĞƌƐĞƌŽĂŶŵĞŶŐĂůĂŵŝŬĞƐƵůŝƚĂŶ
ŬĞƵĂŶŐĂŶ͕ ƐĞŚŝŶŐŐĂ ƚŝĚĂŬ ŵĂŵƉƵ ŵĞŵĞŶƵŚŝ ŬĞǁĂũŝďĂŶŶLJĂ ŬĞƉĂĚĂ WĞŵĞŐĂŶŐ ĨĞŬ ďĞƌƐŝĨĂƚ ƵƚĂŶŐ
ĚĂŶͬĂƚĂƵ ^ƵŬƵŬ͕ ĚŝŵĂŶĂ ƉĞůĂŬƐĂŶĂĂŶŶLJĂ ƚĞƚĂƉ ŵĞŵƉĞƌŚĂƚŝŬĂŶ ŬĞƚĞŶƚƵĂŶ ƉĞƌĂƚƵƌĂŶ ƉĞƌƵŶĚĂŶŐͲ
ƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵĚŝEĞŐĂƌĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ͖
;ŝŝŝͿ ŵĞƌĂŶŐŬĂƉ ƐĞďĂŐĂŝ ƉĞŶĂŶŐŐƵŶŐ ĚĂŶͬĂƚĂƵ ƉĞŵďĞƌŝ ĂŐƵŶĂŶ ĚĂůĂŵ ƉĞŶĞƌďŝƚĂŶ ĨĞŬ ďĞƌƐŝĨĂƚ ƵƚĂŶŐ͕
^ƵŬƵŬ͕ĚĂŶͬĂƚĂƵŬĞǁĂũŝďĂŶWĞƌƐĞƌŽĂŶ͖
Ͳ ^ƵƌĂƚƉĞƌŶLJĂƚĂĂŶEŽ͘ϬϳϱϯͬD^ͲtͬϮϱƚĂŶŐŐĂůϱDĂƌĞƚϮϬϮϱ͕tĂůŝŵĂŶĂƚŵĞŶLJĂƚĂŬĂŶƐĂĂƚŝŶŝƚŝĚĂŬ
ŵĞŵƉƵŶLJĂŝŚƵďƵŶŐĂŶĨŝůŝĂƐŝĚĞŶŐĂŶWĞƌƐĞƌŽĂŶĚĂŶƐĞůĂŵĂŵĞŶũĂĚŝtĂůŝŵĂŶĂƚƚŝĚĂŬĂŬĂŶŵĞŵƉƵŶLJĂŝ
ŚƵďƵŶŐĂŶĨŝůŝĂƐŝĚĞŶŐĂŶWĞƌƐĞƌŽĂŶ͕ƐĞďĂŐĂŝŵĂŶĂĚŝĂƚƵƌĚĂůĂŵWK:<EŽ͘ϭϵͬϮϬϮϬ͖
Ͳ ^ƵƌĂƚƉĞƌŶLJĂƚĂĂŶEŽ͘ϬϳϱϭͬD^ͲtͬϮϱƚĂŶŐŐĂůϱDĂƌĞƚϮϬϮϱ͕tĂůŝŵĂŶĂƚŵĞŶLJĂƚĂŬĂŶƚĞůĂŚŵĞůĂŬƵŬĂŶ
ĚƵĞĚŝůŝŐĞŶĐĞƚĞƌŚĂĚĂƉWĞƌƐĞƌŽĂŶ͕ƐĞďĂŐĂŝŵĂŶĂĚŝĂƚƵƌĚĂůĂŵWK:<EŽ͘ϮϬͬϮϬϮϬ͘
ϭ͘ ZŝǁĂLJĂƚ^ŝŶŐŬĂƚ
ĂŶŬDĞŐĂ͕ĚŝĚŝƌŝŬĂŶĚĞŶŐĂŶŶĂŵĂWdĂŶŬ<ĂƌŵĂŶ͕ďĞƌŬĞĚƵĚƵŬĂŶĚŝ^ƵƌĂďĂLJĂ͕ďĞƌĚĂƐĂƌŬĂŶŬƚĂWĞŶĚŝƌŝĂŶ
EŽ͘ ϯϮ ƚĂŶŐŐĂů ϭϱ Ɖƌŝů ϭϵϲϵ LJĂŶŐ ŬĞŵƵĚŝĂŶ ĚŝƉĞƌďĂŝŬŝ ďĞƌĚĂƐĂƌŬĂŶ ŬƚĂ WĞƌƵďĂŚĂŶ EŽ͘ ϰϳ ƚĂŶŐŐĂů
ϮϲEŽǀĞŵďĞƌϭϵϲϵ͕ĚŝŵĂŶĂŬĞĚƵĂĂŬƚĂƚĞƌƐĞďƵƚĚŝďƵĂƚĚŝŚĂĚĂƉĂŶDƌ͘KĞ^ŝĂŶŐũŝĞ͕EŽƚĂƌŝƐĚŝ^ƵƌĂďĂLJĂ͘ŬƚĂ
ƉĞŶĚŝƌŝĂŶ ŝŶŝ ĚŝƐĂŚŬĂŶ ŽůĞŚ DĞŶŬƵŵŚĂŵ ĚĂůĂŵ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶ EŽ͘ :͘͘ϱͬϴͬϭ ƚĂŶŐŐĂů ϭϲ :ĂŶƵĂƌŝ ϭϵϳϬ͕
ĚŝĚĂĨƚĂƌŬĂŶĚŝ<ĞƉĂŶŝƚĞƌĂĂŶWĞŶŐĂĚŝůĂŶEĞŐĞƌŝ^ƵƌĂďĂLJĂĚŝďĂǁĂŚEŽ͘ϵϰͬϭϵϳϬƚĂŶŐŐĂůϰ&ĞďƌƵĂƌŝϭϵϳϬƐĞƌƚĂ
ƚĞůĂŚ ĚŝƵŵƵŵŬĂŶ ĚĂůĂŵ EZ/ EŽ͘ ϭϯ ƚĂŶŐŐĂů ϭϯ &ĞďƌƵĂƌŝ ϭϵϳϬ͕ dĂŵďĂŚĂŶ EŽ͘ ϱϱ͘ ŶŐŐĂƌĂŶ ĂƐĂƌ Wd ĂŶŬ
<ĂƌŵĂŶŬĞŵƵĚŝĂŶƚĞůĂŚďĞďĞƌĂƉĂŬĂůŝŵĞŶŐĂůĂŵŝƉĞƌƵďĂŚĂŶ͘
Wd ĂŶŬ <ĂƌŵĂŶ ŵĞŵƉĞƌŽůĞŚ ŝnjŝŶ ƵŶƚƵŬ ďĞƌŽƉĞƌĂƐŝ ƐĞďĂŐĂŝ ďĂŶŬ ƵŵƵŵ ďĞƌĚĂƐĂƌŬĂŶ <ĞƉƵƚƵƐĂŶ DĞŶƚĞƌŝ
<ĞƵĂŶŐĂŶZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂĚĞŶŐĂŶ^ƵƌĂƚEŽ͘͘ϭϱ͘ϲ͘ϱ͘ϰϴƚĂŶŐŐĂůϭϰŐƵƐƚƵƐϭϵϲϵ͘ĞƌĚĂƐĂƌŬĂŶŬƚĂĞƌŝƚĂ
ĐĂƌĂZĂƉĂƚhŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵEŽ͘ϮϱƚĂŶŐŐĂůϭϴ:ĂŶƵĂƌŝϭϵϵϮ͕ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶŽůĞŚ ĚĚLJtŝĚũĂũĂ͕^͘,͕͘
EŽƚĂƌŝƐ Ěŝ ^ƵƌĂďĂLJĂ͕ ŶĂŵĂ Wd ĂŶŬ <ĂƌŵĂŶ ĚŝƵďĂŚ ŵĞŶũĂĚŝ Wd DĞŐĂ ĂŶŬ ĚĂŶ ĚŽŵŝƐŝůŝ ĚŝƵďĂŚ ŵĞŶũĂĚŝ
Ěŝ:ĂŬĂƌƚĂ͕ĂŬƚĂŵĂŶĂƚĞůĂŚŵĞŵƉĞƌŽůĞŚƉĞƌƐĞƚƵũƵĂŶĚĂƌŝDĞŶŬƵŵŚĂŵĚĞŶŐĂŶ^ƵƌĂƚ<ĞƉƵƚƵƐĂŶEŽ͘ϮͲϭϯϰϱ
,d͘Ϭϭ͘Ϭϰ͘d,͘ϵϮƚĂŶŐŐĂůϭϮ&ĞďƌƵĂƌŝϭϵϵϮ͕ĚŝĚĂĨƚĂƌŬĂŶĚŝĚĂůĂŵďƵŬƵƌĞŐŝƐƚĞƌĚŝ<ĂŶƚŽƌWĞŶŐĂĚŝůĂŶEĞŐĞƌŝ:ĂŬĂƌƚĂ
WƵƐĂƚĚŝďĂǁĂŚEŽ͘ϳϰϭͬϭϵϵϮƚĂŶŐŐĂůϵDĂƌĞƚϭϵϵϮƐĞƌƚĂƚĞůĂŚĚŝƵŵƵŵŬĂŶĚĂůĂŵEZ/EŽ͘ϯϲƚĂŶŐŐĂůϱDĞŝ
ϭϵϵϮ͕dĂŵďĂŚĂŶEŽ͘ϮϬϬϵ͘WĞƌƵďĂŚĂŶŶĂŵĂWdDĞŐĂĂŶŬŝŶŝƚĞůĂŚŵĞŶĚĂƉĂƚŬĂŶƉĞŶŐĞƐĂŚĂŶĚĂƌŝDĞŶƚĞƌŝ
<ĞƵĂŶŐĂŶZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂĚĞŶŐĂŶ^ƵƌĂƚEŽ͘^͘ϲϭϭͬD<͘ϭϯͬϭϵϵϮƚĂŶŐŐĂůϮϯƉƌŝůϭϵϵϮ͘
ŶŐŐĂƌĂŶĚĂƐĂƌĂŶŬDĞŐĂƚĞůĂŚ ĚŝƵďĂŚƐĞůƵƌƵŚŶLJĂƵŶƚƵŬĚŝƐĞƐƵĂŝŬĂŶĚĞŶŐĂŶhhWd͕ƐĞďĂŐĂŝŵĂŶĂƚĞƌŵƵĂƚ
ĚĂůĂŵŬƚĂWĞƌŶLJĂƚĂĂŶ<ĞƉƵƚƵƐĂŶZĂƉĂƚĚĂŶWĞƌƵďĂŚĂŶŶŐŐĂƌĂŶĂƐĂƌEŽ͘ϯƚĂŶŐŐĂůϱ:ƵŶŝϮϬϬϴLJĂŶŐĚŝďƵĂƚ
ĚŝŚĂĚĂƉĂŶDĂƐũƵŬŝ͕^͘,͕͘ƉĂĚĂǁĂŬƚƵŝƚƵƉĞŶŐŐĂŶƚŝĚĂƌŝ/ŵĂƐ&ĂƚŝŵĂŚ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͕ĂŬƚĂŵĂŶĂƚĞůĂŚ
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ŵĞŵƉĞƌŽůĞŚ ƉĞƌƐĞƚƵũƵĂŶ ĚĂƌŝ DĞŶŬƵŵŚĂŵ ĚĞŶŐĂŶ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶ EŽ͘ ,hͲϰϱϯϰϲ͘,͘Ϭϭ͘ϬϮ͘dĂŚƵŶ ϮϬϬϴ
ƚĂŶŐŐĂůϮϴ:ƵůŝϮϬϬϴ͕ƐĞƌƚĂƚĞůĂŚĚŝƵŵƵŵŬĂŶĚĂůĂŵEZ/EŽ͘ϱϬƚĂŶŐŐĂůϮϯ:ƵŶŝϮϬϬϵ͕dĂŵďĂŚĂŶEŽ͘ϭϲϰϵϬ͘
ŶŐŐĂƌĂŶ ĚĂƐĂƌ Wd ĂŶŬ DĞŐĂ dďŬ ƚĞůĂŚ ŵĞŶŐĂůĂŵŝ ďĞďĞƌĂƉĂ ŬĂůŝ ƉĞƌƵďĂŚĂŶ ĚĂŶ ƚĞůĂŚ ĚŝƵďĂŚ ƵŶƚƵŬ
ĚŝƐĞƐƵĂŝŬĂŶĚĞŶŐĂŶWK:<EŽŵŽƌϭϱͬWK:<͘ϬϰͬϮϬϮϬĚĂŶWK:<EŽŵŽƌϭϲͬWK:<͘ϬϰͬϮϬϮϬĚĞŶŐĂŶŬƚĂWĞƌƵďĂŚĂŶ
ŶŐŐĂƌĂŶĂƐĂƌWdĂŶŬDĞŐĂdďŬƚĞƌƚĂŶŐŐĂůϭϮDĂƌĞƚϮϬϮϭEŽ͘Ϭϳ͕ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶŚĂƌŵĂŬŚLJƵnjŝ͕^͘,͕͘
EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͕LJĂŶŐƉĞŶĞƌŝŵĂĂŶƉĞŵďĞƌŝƚĂŚƵĂŶƉĞƌƵďĂŚĂŶĂŶŐŐĂƌĂŶĚĂƐĂƌŶLJĂƚĞůĂŚĚŝƚĞƌŝŵĂĚĂŶĚŝĐĂƚĂƚ
ĚĂůĂŵ ĚĂƚĂďĂƐĞ ^ŝƐƚĞŵ ĚŵŝŶŝƐƚƌĂƐŝ ĂĚĂŶ ,ƵŬƵŵ <ĞŵĞŶƚĞƌŝĂŶ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ
/ŶĚŽŶĞƐŝĂĚĞŶŐĂŶƐƵƌĂƚŶLJĂEŽ͘,hͲϬϬϰϵϵϮϭ͘,͘Ϭϭ͘ϭϭ͘dĂŚƵŶϮϬϮϭƚĂŶŐŐĂůϭϳDĂƌĞƚϮϬϮϭ͘
ŶŐŐĂƌĂŶĚĂƐĂƌWdĂŶŬDĞŐĂdďŬƚĞůĂŚŵĞŶŐĂůĂŵŝďĞďĞƌĂƉĂŬĂůŝƉĞƌƵďĂŚĂŶ͕ƚĞƌĂŬŚŝƌĚĞŶŐĂŶŬƚĂWĞƌƵďĂŚĂŶ
ŶŐŐĂƌĂŶĂƐĂƌWdĂŶŬDĞŐĂdďŬƚĞƌƚĂŶŐŐĂůϭϮDĂƌĞƚϮϬϮϭEŽ͘Ϭϳ͕ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶŚĂƌŵĂŬŚLJƵnjŝ͕^͘,͕͘
EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͕LJĂŶŐƉĞŶĞƌŝŵĂĂŶƉĞŵďĞƌŝƚĂŚƵĂŶƉĞƌƵďĂŚĂŶĂŶŐŐĂƌĂŶĚĂƐĂƌŶLJĂƚĞůĂŚĚŝƚĞƌŝŵĂĚĂŶĚŝĐĂƚĂƚ
ĚĂůĂŵ ĚĂƚĂďĂƐĞ ^ŝƐƚĞŵ ĚŵŝŶŝƐƚƌĂƐŝ ĂĚĂŶ ,ƵŬƵŵ <ĞŵĞŶƚĞƌŝĂŶ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ
/ŶĚŽŶĞƐŝĂ ĚĞŶŐĂŶ ƐƵƌĂƚŶLJĂ EŽ͘ ,hͲϬϬϰϵϵϮϭ͘,͘Ϭϭ͘ϭϭ͘ dĂŚƵŶ ϮϬϮϭ ƚĂŶŐŐĂů ϭϳ DĂƌĞƚ ϮϬϮϭ ƐĞƌƚĂ ŬƚĂ
WĞƌƵďĂŚĂŶŶŐŐĂƌĂŶĂƐĂƌWdĂŶŬDĞŐĂdďŬƚĞƌƚĂŶŐŐĂůϮϳ&ĞďƌƵĂƌŝϮϬϮϯEŽ͘Ϭϴ͕ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶŚĂƌŵĂ
ŬŚLJƵnjŝ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂ͕LJĂŶŐƉĞŶĞƌŝŵĂĂŶƉĞŵďĞƌŝƚĂŚƵĂŶƉĞƌƵďĂŚĂŶĂŶŐŐĂƌĂŶĚĂƐĂƌŶLJĂƚĞůĂŚĚŝƚĞƌŝŵĂ
ĚĂŶ ĚŝĐĂƚĂƚ ĚĂůĂŵ ĚĂƚĂďĂƐĞ ^ŝƐƚĞŵ ĚŵŝŶŝƐƚƌĂƐŝĂĚĂŶ ,ƵŬƵŵ <ĞŵĞŶƚĞƌŝĂŶ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ
ZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂĚĞŶŐĂŶƐƵƌĂƚŶLJĂEŽ͘,hͲ,͘Ϭϭ͘ϬϯͲϬϬϯϴϬϵϭƚĂŶŐŐĂůϭϬDĂƌĞƚϮϬϮϯĚĂŶƚĞůĂŚŵĞŵƉĞƌŽůĞŚ
ƉĞƌƐĞƚƵũƵĂŶ ĚĂƌŝ DĞŶŬƵŵŚĂŵ ĚĞŶŐĂŶ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶ EŽ͘ ,hͲϬϬϭϱϮϯϰ͘,͘Ϭϭ͘ϬϮ͘d,hE ϮϬϮϯ ƚĂŶŐŐĂů
ϭϬDĂƌĞƚϮϬϮϯ͘
WĞƌƵďĂŚĂŶ^ƵƐƵŶĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐĚĂŶŝƌĞŬƐŝƚĞƌĂŬŚŝƌƐĞďĂŐĂŝŵĂŶĂĚŝŵƵĂƚĚĂůĂŵĂŬƚĂƚĞƌƚĂŶŐŐĂůEŽ͘ϬϮ
ƚĂŶŐŐĂů ϰ DĂƌĞƚ ϮϬϮϰ LJĂŶŐ ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ ŚĂƌŵĂ ŬŚLJƵnjŝ͕ ^͘,͕͘ EŽƚĂƌŝƐ Ěŝ :ĂŬĂƌƚĂ͕ LJĂŶŐ ƉĞŶĞƌŝŵĂĂŶ
ƉĞŵďĞƌŝƚĂŚƵĂŶƉĞƌƵďĂŚĂŶŶŐŐĂƌĂŶĂƐĂƌŶLJĂƚĞůĂŚĚŝƚĞƌŝŵĂĚĂŶĚŝĐĂƚĂƚĚĂůĂŵĚĂƚĂďĂƐĞ^ŝƐƚĞŵĚŵŝŶŝƐƚƌĂƐŝ
ĂĚĂŶ ,ƵŬƵŵ <ĞŵĞŶƚĞƌŝĂŶ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ /ŶĚŽŶĞƐŝĂ ĚĞŶŐĂŶ ƐƵƌĂƚŶLJĂ
EŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϬϵϬϳϬϵƚĂŶŐŐĂůϰDĂƌĞƚϮϬϮϰĚĂŶƉĞƌƵďĂŚĂŶŝƌĞŬƐŝƚĞƌĂŬŚŝƌƐĞďĂŐĂŝŵĂŶĂĚŝŵƵĂƚĚĂůĂŵ
ĂŬƚĂ ƚĞƌƚĂŶŐŐĂů EŽ͘ EŽ͘ ϭϭ ƚĂŶŐŐĂů Ϯϳ DĂƌĞƚ ϮϬϮϱ LJĂŶŐ ĚŝďƵĂƚ Ěŝ ŚĂĚĂƉĂŶ ŚĂƌŵĂ ŬŚLJƵnjŝ͕ ^͘,͕͘ EŽƚĂƌŝƐ
Ěŝ :ĂŬĂƌƚĂ͕ LJĂŶŐ ƉĞŶĞƌŝŵĂĂŶ ĚĂŶ ƉĞŵďĞƌŝƚĂŚƵĂŶ ƉĞƌƵďĂŚĂŶ ŶŐŐĂƌĂŶ ĂƐĂƌ ŶLJĂ ƚĞůĂŚ ĚŝƚĞƌŝŵĂ ĚĂŶ ĚŝĐĂƚĂƚ
ĚĂůĂŵ ĚĂƚĂďĂƐĞ ^ŝƐƚĞŵ ĚŵŝŶŝƐƚƌĂƐŝ ĂĚĂŶ ,ƵŬƵŵ <ĞŵĞŶƚĞƌŝĂŶ ,ƵŬƵŵ ĚĂŶ ,ĂŬ ƐĂƐŝ DĂŶƵƐŝĂ ZĞƉƵďůŝŬ
/ŶĚŽŶĞƐŝĂĚĞŶŐĂŶƐƵƌĂƚŶLJĂEŽ͘,hͲ,͘Ϭϭ͘ϬϵͲϬϭϴϮϬϮϲƚĂŶŐŐĂůϭϭƉƌŝůϮϬϮϱ͘͘
Ϯ͘ WĞƌŵŽĚĂůĂŶ
ĞƌĚĂƐĂƌŬĂŶ>ĂƉŽƌĂŶ<ĞƉĞŵŝůŝŬĂŶ^ĂŚĂŵWdĂŶŬDĞŐĂdďŬƉĞƌƚĂŶŐŐĂůϯϬƉƌŝůϮϬϮϱLJĂŶŐĚŝƚĞƌďŝƚŬĂŶŽůĞŚ
WdĂƚŝŶĚŽ ŶƚƌLJĐŽŵƐĞƐƵĂŝ^ƵƌĂƚEŽ͘ ͬsͬϮϬϮϱͲϭϰϱϭƚĂŶŐŐĂůϮDĞŝϮϬϮϱ͕ƐƚƌƵŬƚƵƌƉĞƌŵŽĚĂůĂŶĚĂŶƐƵƐƵŶĂŶ
ƉĞŵĞŐĂŶŐƐĂŚĂŵWdĂŶŬDĞŐĂdďŬƚĞƌĂŬŚŝƌĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
EŝůĂŝEŽŵŝŶĂůZƉϱϬϬƉĞƌƐĂŚĂŵ WĞƌƐĞŶƚĂƐĞ
WĞŵĞŐĂŶŐ^ĂŚĂŵ
:ƵŵůĂŚ^ĂŚĂŵ EŝůĂŝEŽŵŝŶĂů;ZƉͿ ;йͿ
DŽĚĂůĂƐĂƌ Ϯϳ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ ϭϯ͘ϱϬϬ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬ
DŽĚĂůĚŝƚĞŵƉĂƚŬĂŶĚĂŶĚŝƐĞƚŽƌƉĞŶƵŚ
ͲWdDĞŐĂŽƌƉŽƌĂ ϲ͘ϴϭϮ͘ϮϮϯ͘ϲϭϰ ϯ͘ϰϬϲ͘ϭϭϭ͘ϴϬϳ͘ϬϬϬ ϱϴ͕ϬϮй
ͲWƵďůŝŬ;ŵĂƐŝŶŐŵĂƐŝŶŐĚŝďĂǁĂŚϱйͿ ϰ͘ϵϮϴ͘ϲϵϵ͘ϳϱϭ Ϯ͘ϰϲϰ͘ϯϰϵ͘ϴϳϱ͘ϱϬϬ ϰϭ͕ϵϴй
:ƵŵůĂŚDŽĚĂůĚŝƚĞŵƉĂƚŬĂŶĚĂŶŝƐĞƚŽƌWĞŶƵŚ ϭϭ͘ϳϰϬ͘ϵϮϯ͘ϯϲϱ ϱ͘ϴϳϬ͘ϰϲϭ͘ϲϴϮ͘ϱϬϬ ϭϬϬ͕ϬϬ
:ƵŵůĂŚ^ĂŚĂŵĂůĂŵWĞƌƚĞƉĞů ϭϱ͘Ϯϱϵ͘Ϭϳϲ͘ϲϯϱ ϳ͘ϲϮϵ͘ϱϯϴ͘ϯϭϳ͘ϱϬϬ
ϯ͘ WĞŶŐƵƌƵƐĂŶĚĂŶWĞŶŐĂǁĂƐĂŶ
^ƵƐƵŶĂŶĞǁĂŶ<ŽŵŝƐĂƌŝƐĂŶŬDĞŐĂďĞƌĚĂƐĂƌŬĂŶŬƚĂWĞƌŶLJĂƚĂĂŶ<ĞƉƵƚƵƐĂŶZĂƉĂƚWdĂŶŬDĞŐĂdďŬEŽ͘ϬϮ
ƚĂŶŐŐĂůϰDĂƌĞƚϮϬϮϰLJĂŶŐĚŝďƵĂƚĚŝŚĂĚĂƉĂŶŚĂƌŵĂŬŚLJƵnjŝ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂĚĂŶĂŶŐŐŽƚĂŝƌĞŬƐŝĂŶŬ
DĞŐĂďĞƌĚĂƐĂƌŬĂŶŬƚĂWĞƌŶLJĂƚĂĂŶ<ĞƉƵƚƵƐĂŶZĂƉĂƚWdĂŶŬDĞŐĂdďŬEŽ͘ ϭϭƚĂŶŐŐĂůϮϳDĂƌĞƚϮϬϮϱLJĂŶŐ
ĚŝďƵĂƚĚŝŚĂĚĂƉĂŶŚĂƌŵĂŬŚLJƵnjŝ͕^͘,͕͘EŽƚĂƌŝƐĚŝ:ĂŬĂƌƚĂĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
<ŽŵŝƐĂƌŝƐ
<ŽŵŝƐĂƌŝƐhƚĂŵĂ ͗ ŚĂŝƌƵůdĂŶũƵŶŐ
<ŽŵŝƐĂƌŝƐ/ŶĚĞƉĞŶĚĞŶ ͗ ĐŚũĂĚŝZĂŶƵǁŝƐĂƐƚƌĂ
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PT INDOMOBIL FINANCE INDONESIA
<ŽŵŝƐĂƌŝƐ/ŶĚĞƉĞŶĚĞŶ ͗ >ĂŵďŽĐŬs͘EĂŚĂƚƚĂŶĚƐ
<ŽŵŝƐĂƌŝƐ/ŶĚĞƉĞŶĚĞŶ ͗ ,ŝnjďƵůůĂŚ
ŝƌĞŬƐŝ
ŝƌĞŬƚƵƌhƚĂŵĂ ͗ <ŽƐƚĂŵĂŶdŚĂLJŝď
tĂŬŝůŝƌĞŬƚƵƌhƚĂŵĂ ͗ /ŶĚŝǀĂƌĂ ƌŶŝ
ŝƌĞŬƚƵƌ ͗ DĂĚŝĂƌŵĂĚŝ>ĂnjƵĂƌĚŝ
ŝƌĞŬƚƵƌ ͗ DĂƌƚŝŶDƵůǁĂŶƚŽ
ŝƌĞŬƚƵƌ ͗ z,ĂƌŝĂŶƚŽŶŽ
ŝƌĞŬƚƵƌ ͗ zƵŶŝ>ĂƐƚŝĂŶƚŽ
ŝƌĞŬƚƵƌ/ŶĚĞƉĞŶĚĞŶ ͗ ,ĞƌŝǁĂŶ'ĂnjĂůŝ
ΎWĞŶŐĂŶŐŬĂƚĂŶĂƉĂŬ,ĞƌŝǁĂŶ'ĂnjĂůŝƚĞƌƐĞďƵƚďĞƌůĂŬƵĞĨĞŬƚŝĨƐĞũĂŬƐĂĂƚLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶƚĞůĂŚŵĞŶĚĂƉĂƚŬĂŶ
ƉĞƌƐĞƚƵũƵĂŶ KƚŽƌŝƚĂƐ :ĂƐĂ <ĞƵĂŶŐĂŶ ĂƚĂƐ WĞŶŝůĂŝĂŶ <ĞŵĂŵƉƵĂŶ ĚĂŶ <ĞƉĂƚƵƚĂŶ ;&ŝƚ ĂŶĚ WƌŽƉĞƌ dĞƐƚͿ ĚĂŶ
ŵĞŵĞŶƵŚŝƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵ͕ĚĞŶŐĂŶŵĂƐĂũĂďĂƚĂŶƐĂŵƉĂŝĚĞŶŐĂŶZĂƉĂƚhŵƵŵ
WĞŵĞŐĂŶŐ^ĂŚĂŵdĂŚƵŶĂŶLJĂŶŐĚŝƐĞůĞŶŐŐĂƌĂŬĂŶƉĂĚĂƚĂŚƵŶϮϬϮϵ;ĚƵĂƌŝďƵĚƵĂƉƵůƵŚƐĞŵďŝůĂŶͿĚĞŶŐĂŶƚŝĚĂŬ
ŵĞŶŐƵƌĂŶŐŝŚĂŬZĂƉĂƚhŵƵŵWĞŵĞŐĂŶŐ^ĂŚĂŵƵŶƚƵŬŵĞŵďĞƌŚĞŶƚŝŬĂŶƐĞǁĂŬƚƵͲǁĂ<Ƶ͘
ϰ͘ <ĞŐŝĂƚĂŶhƐĂŚĂ
^ĞůĂŬƵďĂŶŬƵŵƵŵ͕WdĂŶŬDĞŐĂdďŬŵĞŶũĂůĂŶŬĂŶƵƐĂŚĂĚŝĚĂůĂŵďŝĚĂŶŐƉĞƌďĂŶŬĂŶĚĂůĂŵĂƌƚŝƐĞůƵĂƐͲůƵĂƐŶLJĂ
ĚĞŶŐĂŶǀŝƐŝŵĞŶũĂĚŝŬĞďĂŶŐŐĂĂŶďĂŶŐƐĂĚĂŶŵŝƐŝŵĞŶĐŝƉƚĂŬĂŶŚƵďƵŶŐĂŶďĂŝŬLJĂŶŐďĞƌŬĞƐŝŶĂŵďƵŶŐĂŶĚĞŶŐĂŶ
ŶĂƐĂďĂŚŵĞůĂůƵŝƉĞůĂLJĂŶĂŶũĂƐĂŬĞƵĂŶŐĂŶĚĂŶŬĞŵĂŵƉƵĂŶŬŝŶĞƌũĂŽƌŐĂŶŝƐĂƐŝƚĞƌďĂŝŬƵŶƚƵŬŵĞŶŝŶŐŬĂƚŬĂŶŶŝůĂŝ
ďĂŐŝƉĂƌĂƉĞŵĞŐĂŶŐƐĂŚĂŵ͘WdĂŶŬDĞŐĂdďŬũƵŐĂƚĞƌĚĂĨƚĂƌƐĞďĂŐĂŝtĂůŝŵĂŶĂƚďĞƌĚĂƐĂƌŬĂŶ^ƵƌĂƚdĂŶĚĂ
dĞƌĚĂĨƚĂƌƐĞďĂŐĂŝtĂůŝŵĂŶĂƚEŽ͘ϮϬͬ^ddͲtͬWDͬϮϬϬϬƚĂŶŐŐĂůϮŐƵƐƚƵƐϮϬϬϬ͘
ĞƌďĂŐĂŝ ŵĂĐĂŵ ũĂƐĂ ƉĞůĂLJĂŶĂŶ ƚĞůĂŚ ĚŝůĞŶŐŬĂƉŝ͕ ĚŝĂŶƚĂƌĂŶLJĂ ĚĞŶŐĂŶ ƉĞŶLJĞĚŝĂĂŶ :ĂƐĂ WĞŵďĂLJĂƌĂŶ
dĞůĞŬŽŵƵŶŝŬĂƐŝ͕ DĞŐĂ dƌĂŶƐĂĐƚŝŽŶĂů ĂŶŬŝŶŐ͕DĞŐĂ /ŶƚĞƌŶĞƚ ĂŶŬŝŶŐ͕ :ĂƐĂ WĂƐĂƌ DŽĚĂů ;tĂůŝ ŵĂŶĂƚ͕ ŐĞŶ
WĞŵĂŶƚĂƵ͕:ĂƐĂ<ƵƐƚŽĚŝĂŶ͕ŐĞŶ:ĂŵŝŶĂŶ͕ŐĞŶ&ĂƐŝůŝƚĂƐ͕ŐĞŶZĞŬĞŶŝŶŐWĞŶĂŵƉƵŶŐĂŶͬ ƐĐƌŽǁŐĞŶƚͿ͕ĂŶŬ
ĚŵŝŶŝƐƚƌĂƚŽƌ ZĞŬĞŶŝŶŐ ĂŶĂ EĂƐĂďĂŚ ĚĂŶ ĂŶŬ WĞŵďĂLJĂƌĂŶ͕ <ƌĞĚŝƚ <ŽŶƐƵŵĞƌ͕ <ƌĞĚŝƚ <ŽŵĞƌƐŝĂů͕ <ƌĞĚŝƚ
<ŽƌƉŽƌĂƐŝ͕/ŶƚĞƌŶĂƚŝŽŶĂůdƌĂŶƐĂĐƚŝŽŶ;ZĞŵŝƚƚĂŶĐĞ͕ŽůůĞĐƚŝŽŶ͕dƌĂĚĞ&ŝŶĂŶĐĞͿ͕dƌĞĂƐƵƌLJͬ'ůŽďĂů^ĞƌǀŝĐĞ;&ŽƌĞŝŐŶ
džĐŚĂŶŐĞdƌĂŶƐĂĐƚŝŽŶ͕DŽŶĞLJDĂƌŬĞƚ͕DĂƌŬĞƚĂďůĞ^ĞĐƵƌŝƚŝĞƐ͕^/Ϳ͕DĞŐĂsŝƐĂĂƌĚ͕ĞďŝƚdDĂƌĚ;DĞŐĂWĂƐƐ͕
DĞŐĂ&ŝƌƐƚͿ͕DĞŐĂWĂLJƌŽůů͕DĞŐĂĂůů͕DĞŐĂ^͕DĞŐĂĂƐŚ͕DĞŐĂhůƚŝŵĂ͕WƌŽŐƌĂŵ&ƌĞĞ dĂůŬ͕WĞŵďĂLJĂƌĂŶ
dĂŐŝŚĂŶ>ŝƐƚƌŝŬ͕ƐĞƌƚĂƉĞůƵŶĐƵƌĂŶƉƌŽĚƵŬͲƉƌŽĚƵŬƐŝŵƉĂŶĂŶ͘
ĂůĂŵƵƉĂLJĂŵĞǁƵũƵĚŬĂŶŬŝŶĞƌũĂƐĞƐƵĂŝĚĞŶŐĂŶŶĂŵĂLJĂŶŐĚŝƐĂŶĚĂŶŐŶLJĂ͕WdĂŶŬDĞŐĂdďŬ͘ďĞƌƉĞŐĂŶŐƚĞŐƵŚ
ƉĂĚĂĂƐĂƐƉƌŽĨĞƐŝŽŶĂůŝƐŵĞ͕ŬĞƚĞƌďƵŬĂĂŶ͕ĚĂŶŬĞŚĂƚŝͲŚĂƚŝĂŶĚĞŶŐĂŶ ĚŝĚƵŬƵŶŐƐƚƌƵŬƚƵƌ ƉĞƌŵŽĚĂůĂŶLJĂŶŐŬƵĂƚ
ĚĂŶĨĂƐŝůŝƚĂƐƉĞƌďĂŶŬĂŶƚĞƌŬŝŶŝ͘
^ĞũĂůĂŶĚĞŶŐĂŶƉĞƌŬĞŵďĂŶŐĂŶŬĞŐŝĂƚĂŶƵƐĂŚĂŶLJĂ͕ũĂƌŝŶŐĂŶŽƉĞƌĂƐŝŽŶĂůĂŶŬDĞŐĂƚĞƌƵƐŵĞůƵĂƐ͕ƐĞŚŝŶŐŐĂƉĂĚĂ
ĂŬŚŝƌϯϬ^ĞƉƚĞŵďĞƌϮϬϮϰ͕ĂŶŬDĞŐĂƚĞůĂŚŵĞŵŝůŝŬŝ<ĂŶƚŽƌĂďĂŶŐ͕<ĂŶƚŽƌĂďĂŶŐWĞŵďĂŶƚƵ͕<ĂŶƚŽƌtŝůĂLJĂŚ͕
ĚĂŶ<ĂŶƚŽƌ&ƵŶŐƐŝŽŶĂůƐĞďĂŶLJĂŬϯϳϯĂďĂŶŐ͘
WĂĚĂƚĂŚƵŶϮϬϮϬ͕ĂŶŬDĞŐĂƚĞůĂŚŵĞůƵŶĐƵƌŬĂŶDͲ^D/> ;DĞŐĂ^ŵĂƌƚDŽďŝůĞͿLJĂŶŐŵĞŵďĞƌŝŬĂŶĐƵƐƚŽŵĞƌ
ĞdžƉĞƌŝĞŶĐĞƐĞůĂLJĂŬŶLJĂůĂLJĂŶĂŶĐĂďĂŶŐĚĂůĂŵŐĞŶŐŐĂŵĂŶ͘
WĞŶŐĂůĂŵĂŶĂŶŬDĞŐĂĚŝƉĂƐĂƌŵŽĚĂůĚĂƌŝƐĞũĂŬƚĂŚƵŶϮϬϮϮŵĞůŝƉƵƚŝ͗
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ///^DZddĂŚĂƉ///dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ//tŝũĂLJĂ<ĂƌLJĂdĂŚĂƉ//dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ//tŝũĂLJĂ<ĂƌLJĂdĂŚĂƉ//dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ/s/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉdĂŚĂƉ///dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬ/ũĂƌĂŚĞƌŬĞůĂŶũƵƚĂŶ//ŶĞŬĂ'ĂƐ/ŶĚƵƐƚƌŝdĂŚĂƉsdĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ/sWEDdĂŚĂƉ//dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶsWĞŐĂĚĂŝĂŶdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ//WĞŐĂĚĂŝĂŶdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
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PT INDOMOBIL FINANCE INDONESIA
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ///ĚŚŝ<ĂƌLJĂdĂŚĂƉ///dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ/s^DZddĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬtĂŬĂůĂŚĞƌŬĞůĂŶũƵƚĂŶ/DĞĚĐŽWŽǁĞƌ/ŶĚŽŶĞƐŝĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ/<ĞƌĞƚĂƉŝ/ŶĚŽŶĞƐŝĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬ/ũĂƌĂŚĞƌŬĞůĂŶũƵƚĂŶ/<ĞƌĞƚĂƉŝ/ŶĚŽŶĞƐŝĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶsWEDdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶsWĞŐĂĚĂŝĂŶdĂŚĂƉ//dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ//WĞŐĂĚĂŝĂŶdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ//WĞŐĂĚĂŝĂŶdĂŚĂƉ//dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬ/ũĂƌĂŚĞƌŬĞůĂŶũƵƚĂŶ//ŶƚŝůĂŶĚĞǀĞůŽƉŵĞŶƚdĂŚĂƉ//dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ//y>džŝĂƚĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬ/ũĂƌĂŚĞƌŬĞůĂŶũƵƚĂŶ///y>džŝĂƚĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ///tŝũĂLJĂ<ĂƌLJĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ///tŝũĂLJĂ<ĂƌLJĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬ/ũĂƌĂŚĞƌŬĞůĂŶũƵƚĂŶ//ŶƚŝůĂŶĚĞǀĞůŽƉŵĞŶƚdĂŚĂƉ///dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬtĂŬĂůĂŚĞƌŬĞůĂŶũƵƚĂŶ/DĞĚĐŽWŽǁĞƌ/ŶĚŽŶĞƐŝĂdĂŚĂƉ//dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬ/ũĂƌĂŚĞƌŬĞůĂŶũƵƚĂŶ//ŶĞŬĂ'ĂƐ/ŶĚƵƐƚƌŝdĂŚĂƉsdĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ/sWEDdĂŚĂƉ//dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶsWĞŐĂĚĂŝĂŶdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ//WĞŐĂĚĂŝĂŶdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ///ĚŚŝ<ĂƌLJĂdĂŚĂƉ///dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ/s^DZddĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬtĂŬĂůĂŚĞƌŬĞůĂŶũƵƚĂŶ/DĞĚĐŽWŽǁĞƌ/ŶĚŽŶĞƐŝĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ/<ĞƌĞƚĂƉŝ/ŶĚŽŶĞƐŝĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬ/ũĂƌĂŚĞƌŬĞůĂŶũƵƚĂŶ/<ĞƌĞƚĂƉŝ/ŶĚŽŶĞƐŝĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶsWEDdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶsWĞŐĂĚĂŝĂŶdĂŚĂƉ//dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ//WĞŐĂĚĂŝĂŶdĂŚĂƉ//dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬ/ũĂƌĂŚĞƌŬĞůĂŶũƵƚĂŶ//ŶƚŝůĂŶĚĞǀĞůŽƉŵĞŶƚdĂŚĂƉ//dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ//y>džŝĂƚĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬ/ũĂƌĂŚĞƌŬĞůĂŶũƵƚĂŶ///y>džŝĂƚĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ///tŝũĂLJĂ<ĂƌLJĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ///tŝũĂLJĂ<ĂƌLJĂdĂŚĂƉ/dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬ/ũĂƌĂŚĞƌŬĞůĂŶũƵƚĂŶ//ŶƚŝůĂŶĚĞǀĞůŽƉŵĞŶƚdĂŚĂƉ///dĂŚƵŶϮϬϮϮ
• ^ƵŬƵŬtĂŬĂůĂŚĞƌŬĞůĂŶũƵƚĂŶ/DĞĚĐŽWŽǁĞƌ/ŶĚŽŶĞƐŝĂdĂŚĂƉ//dĂŚƵŶϮϬϮϮ
• KďůŝŐĂƐŝ/d^ ŶĞƌŐŝhƚĂŵĂdĂŚƵŶϮϬϮϯ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ///ĂŶŬsŝĐƚŽƌŝĂdĂŚĂƉ/dĂŚƵŶϮϬϮϯ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶs/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉdĂŚĂƉ//dĂŚƵŶϮϬϮϯ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ/WEDdĂŚĂƉ//dĂŚƵŶϮϬϮϯ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶsWĞŐĂĚĂŝĂŶdĂŚĂƉ///dĂŚƵŶϮϬϮϯ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ//WĞŐĂĚĂŝĂŶdĂŚĂƉ///dĂŚƵŶϮϬϮϯ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶsDĞĚĐŽ ŶĞƌŐŝ/ŶƚĞƌŶĂƐŝŽŶĂůdĂŚĂƉ/dĂŚƵŶϮϬϮϯ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶsWĞŐĂĚĂŝĂŶdĂŚĂƉ/sdĂŚƵŶϮϬϮϯ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ//WĞŐĂĚĂŝĂŶdĂŚĂƉ/sdĂŚƵŶϮϬϮϯ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ///ŶĚŽŶĞƐŝĂ/ŶĨƌĂƐƚƌƵĐƚƵƌĞ&ŝŶĂŶĐĞdĂŚĂƉ/dĂŚƵŶϮϬϮϯ
• ^ƵƌĂƚĞƌŚĂƌŐĂWĞƌƉĞƚƵĂůĞƌǁĂǁĂƐĂŶ>ŝŶŐŬƵŶŐĂŶ/ŶĚŽŶĞƐŝĂ/ŶĨƌĂƐƚƌƵĐƚƵƌĞ&ŝŶĂŶĐĞdĂŚƵŶϮϬϮϯ
• ^ƵŬƵŬtĂŬĂůĂŚĞƌŬĞůĂŶũƵƚĂŶ/DĞĚĐŽWŽǁĞƌdĂŚĂƉ///dĂŚƵŶϮϬϮϰ
• Kďů͘ĞƌŬĞůĂŶũƵƚĂŶsWĞŐĂĚĂŝĂŶdĂŚĂƉsdĂŚƵŶϮϬϮϰ
• Kďů͘ĞƌŬĞůĂŶũƵƚĂŶsdWEdĂŚĂƉ/dĂŚƵŶϮϬϮϰ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶsDĞĚĐŽ ŶĞƌŐŝ/ŶƚĞƌŶĂƐŝŽŶĂůdĂŚĂƉ//dĂŚƵŶϮϬϮϰ
• Kďů͘ĞƌŬĞůĂŶũƵƚĂŶsWEDdĂŚĂƉ//dĂŚƵŶϮϬϮϰ
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PT INDOMOBIL FINANCE INDONESIA
• Kďů͘ĞƌŬĞůĂŶũƵƚĂŶ/s>ĂƵƚĂŶ>ƵĂƐdĂŚĂƉ/dĂŚƵŶϮϬϮϰ
• Kďů͘ĞƌŬĞůĂŶũƵƚĂŶs/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞĞŶŐĂŶdŝŶŐŬĂƚƵŶŐĂdĞƚĂƉdĂŚĂƉ///dĂŚƵŶϮϬϮϰ
• Kďů͘ĞƌŬĞůĂŶũƵƚĂŶs/WĞŐĂĚĂŝĂŶdĂŚĂƉ/dĂŚƵŶϮϬϮϰ
• Kďů͘ĞƌǁĂǁĂƐĂŶ^ŽƐŝĂůĞƌŬĞůĂŶũƵƚĂŶ/WĞŐĂĚĂŝĂŶdĂŚĂƉ/dĂŚƵŶϮϬϮϰ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ///WĞŐĂĚĂŝĂŶdĂŚĂƉ/dĂŚƵŶϮϬϮϰ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌǁĂǁĂƐĂŶ^ŽƐŝĂůĞƌŬĞůĂŶũƵƚĂŶ/WĞŐĂĚĂŝĂŶdĂŚĂƉ/dĂŚƵŶϮϬϮϰ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ/WEDdĂŚĂƉ///dĂŚƵŶϮϬϮϰ
• Kďů͘ĞƌŬĞůĂŶũƵƚĂŶ///ĂŶŬsŝĐƚŽƌŝĂdĂŚĂƉ//dĂŚƵŶϮϬϮϰ
• Kďů͘^ƵďŽƌĚŝŶĂƐŝĞƌŬĞůĂŶũƵƚĂŶ///ĂŶŬsŝĐƚŽƌŝĂdĂŚĂƉ/dĂŚƵŶϮϬϮϰ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌŬĞůĂŶũƵƚĂŶ///WĞŐĂĚĂŝĂŶdĂŚĂƉ//dĂŚƵŶϮϬϮϰ
• ^ƵŬƵŬDƵĚŚĂƌĂďĂŚĞƌǁĂǁĂƐĂŶ^ŽƐŝĂůĞƌŬĞůĂŶũƵƚĂŶ/WĞŐĂĚĂŝĂŶdĂŚĂƉ//dĂŚƵŶϮϬϮϰ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶ/<ĞƌĞƚĂƉŝ/ŶĚŽŶĞƐŝĂdĂŚĂƉ//dĂŚƵŶϮϬϮϰ
• KďůŝŐĂƐŝĞƌŬĞůĂŶũƵƚĂŶsDĞĚĐŽ ŶĞƌŐŝ/ŶƚĞƌŶĂƚŝŽŶĂůdĂŚĂƉ///dĂŚƵŶϮϬϮϱ
• ^ƵŬƵŬtĂŬĂůĂŚĞƌŬĞůĂũƵƚĂŶ/DĞĚĐŽWŽǁĞƌdĂŚĂƉ/sdĂŚƵŶϮϬϮϱ
ϱ͘ dƵŐĂƐWŽŬŽŬtĂůŝŵĂŶĂƚ
^ĞƐƵĂŝ ĚĞŶŐĂŶ WĞƌĂƚƵƌĂŶ K:< EŽ͘ ϮϬͬϮϬϮϬ ĚĂŶ ŬĞŵƵĚŝĂŶ ĚŝƚĞŐĂƐŬĂŶ ůĂŐŝ Ěŝ ĚĂůĂŵ ĂŬƚĂ WĞƌũĂŶũŝĂŶ
WĞƌǁĂůŝĂŵĂŶĂƚĂŶ͕ƚƵŐĂƐƉŽŬŽŬtĂůŝŵĂŶĂƚĂŶƚĂƌĂůĂŝŶĂĚĂůĂŚ͗
Ă͘ ŵĞǁĂŬŝůŝ ŬĞƉĞŶƚŝŶŐĂŶ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ͕ ďĂŝŬ Ěŝ ĚĂůĂŵ ŵĂƵƉƵŶ Ěŝ ůƵĂƌ ƉĞŶŐĂĚŝůĂŶ ƐĞƐƵĂŝ ĚĞŶŐĂŶ
WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶ ƉĞƌĂƚƵƌĂŶ ƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ LJĂŶŐ ďĞƌůĂŬƵ Ěŝ EĞŐĂƌĂ ZĞƉƵďůŝŬ
/ŶĚŽŶĞƐŝĂ͖
ď͘ ŵĞŶŐŝŬĂƚŬĂŶĚŝƌŝƵŶƚƵŬŵĞůĂŬƐĂŶĂŬĂŶƚƵŐĂƐƉŽŬŽŬĚĂŶƚĂŶŐŐƵŶŐũĂǁĂďƐĞďĂŐĂŝŵĂŶĂĚŝŵĂŬƐƵĚĚĂůĂŵŚƵƌƵĨ
ĂƐĞũĂŬŵĞŶĂŶĚĂƚĂŶŐĂŶŝWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͕ƚĞƚĂƉŝƉĞƌǁĂŬŝůĂŶƚĞƌƐĞďƵƚŵƵůĂŝďĞƌůĂŬƵĞĨĞŬƚŝĨƉĂĚĂ
ƐĂĂƚKďůŝŐĂƐŝƚĞůĂŚĚŝĂůŽŬĂƐŝŬĂŶŬĞƉĂĚĂWĞŵĞŐĂŶŐKďůŝŐĂƐŝ͖
Đ͘ ŵĞůĂŬƐĂŶĂŬĂŶƚƵŐĂƐƐĞďĂŐĂŝtĂůŝŵĂŶĂƚďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶĚĂŶĚŽŬƵŵĞŶůĂŝŶŶLJĂ
LJĂŶŐďĞƌŬĂŝƚĂŶĚĞŶŐĂŶWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͖ĚĂŶ
Ě͘ ŵĞŵďĞƌŝŬĂŶ ƐĞŵƵĂ ŬĞƚĞƌĂŶŐĂŶ ĂƚĂƵ ŝŶĨŽƌŵĂƐŝ ƐĞŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ ƉĞůĂŬƐĂŶĂĂŶ ƚƵŐĂƐͲƚƵŐĂƐ
ƉĞƌǁĂůŝĂŵĂŶĂƚĂŶŬĞƉĂĚĂK:<͘
ϲ͘ WĞŶŐŐĂŶƚŝĂŶtĂůŝŵĂŶĂƚ
^ĞƐƵĂŝWĞƌĂƚƵƌĂŶK:<EŽ͘ϮϬͬϮϬϮϬLJĂŶŐŬĞŵƵĚŝĂŶĚŝƚĞŐĂƐŬĂŶĚĂůĂŵWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͕ƉĞŶŐŐĂŶƚŝĂŶ
tĂůŝŵĂŶĂƚĚŝůĂŬƵŬĂŶďŝůĂŵĂŶĂƚĞƌũĂĚŝƐĂůĂŚƐĂƚƵĚĂƌŝƐĞďĂďͲƐĞďĂďƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭ͘ tĂůŝŵĂŶĂƚƚŝĚĂŬůĂŐŝŵĞŵĞŶƵŚŝŬĞƚĞŶƚƵĂŶƵŶƚƵŬŵĞŶũĂůĂŶŬĂŶĨƵŶŐƐŝƐĞďĂŐĂŝtĂůŝŵĂŶĂƚƐĞƐƵĂŝĚĞŶŐĂŶ
ŬĞƚĞŶƚƵĂŶƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ͖
Ϯ͘ ŝnjŝŶƵƐĂŚĂĂŶŬhŵƵŵLJĂŶŐŵĞůĂŬƵŬĂŶŬĞŐŝĂƚĂŶƐĞďĂŐĂŝtĂůŝŵĂŶĂƚĚŝĐĂďƵƚ͖
ϯ͘ ƉĞŵďĂƚĂůĂŶƐƵƌĂƚƚĂŶĚĂƚĞƌĚĂĨƚĂƌĂƚĂƵƉĞŵďĞŬƵĂŶŬĞŐŝĂƚĂŶƵƐĂŚĂtĂůŝŵĂŶĂƚ͖
ϰ͘ tĂůŝ ŵĂŶĂƚ ĚŝďƵďĂƌŬĂŶ ŽůĞŚ ƐƵĂƚƵ ďĂĚĂŶ ƉĞƌĂĚŝůĂŶ LJĂŶŐ ďĞƌǁĞŶĂŶŐ ĚĂŶ ƚĞůĂŚ ŵĞŵƉƵŶLJĂŝ ŬĞŬƵĂƚĂŶ
ŚƵŬƵŵ ƚĞƚĂƉ ĂƚĂƵ ŽůĞŚ ƐƵĂƚƵ ďĂĚĂŶ ƌĞƐŵŝ ůĂŝŶŶLJĂ ĂƚĂƵ ĚŝĂŶŐŐĂƉ ƚĞůĂŚ ďƵďĂƌ ďĞƌĚĂƐĂƌŬĂŶ ŬĞƚĞŶƚƵĂŶ
ƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵĚŝŶĞŐĂƌĂZĞƉƵďůŝŬ/ŶĚŽŶĞƐŝĂ͖
ϱ͘ tĂůŝ ŵĂŶĂƚ ĚŝŶLJĂƚĂŬĂŶ ƉĂŝůŝƚ ŽůĞŚ ďĂĚĂŶ ƉĞƌĂĚŝůĂŶ LJĂŶŐ ďĞƌǁĞŶĂŶŐ ĚĂŶ ƚĞůĂŚ ŵĞŵƉƵŶLJĂŝ ŬĞŬƵĂƚĂŶ
ŚƵŬƵŵƚĞƚĂƉĂƚĂƵĚŝďĞŬƵŬĂŶŽƉĞƌĂƐŝŶLJĂĚĂŶͬĂƚĂƵŬĞŐŝĂƚĂŶƵƐĂŚĂŶLJĂŽůĞŚƉŝŚĂŬLJĂŶŐďĞƌǁĞŶĂŶŐ͖
ϲ͘ tĂůŝŵĂŶĂƚƚŝĚĂŬĚĂƉĂƚŵĞůĂŬƐĂŶĂŬĂŶŬĞǁĂũŝďĂŶŶLJĂďĞƌĚĂƐĂƌŬĂŶWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͖
ϳ͘ tĂůŝŵĂŶĂƚŵĞůĂŶŐŐĂƌŬĞƚĞŶƚƵĂŶWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶĚĂŶͬĂƚĂƵƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶ
ĚŝďŝĚĂŶŐWĂƐĂƌDŽĚĂů͖
ϴ͘ ĂƚĂƐƉĞƌŵŝŶƚĂĂŶƉĂƌĂWĞŵĞŐĂŶŐKďůŝŐĂƐŝ͖
ϵ͘ ƚŝŵďƵůŶLJĂŚƵďƵŶŐĂŶĂĨŝůŝĂƐŝĂŶƚĂƌĂtĂůŝŵĂŶĂƚĚĞŶŐĂŶWĞƌƐĞƌŽĂŶƐĞƚĞůĂŚƉĞŶƵŶũƵŬĂŶtĂůŝŵĂŶĂƚ͖
ϭϬ͘ ƚŝŵďƵůŶLJĂŚƵďƵŶŐĂŶŬƌĞĚŝƚƉĞŵďŝĂLJĂĂŶLJĂŶŐŵĞůĂŵƉĂƵŝũƵŵůĂŚƐĞďĂŐŝŵĂŶĂĚŝĂƚƵƌĚĂůĂŵWĞƌĂƚƵƌĂŶK:<
EŽ͘ϭϵͬϮϬϮϬ͖ĂƚĂƵ
ϭϭ͘ ƚĂƐƉĞƌŵŝŶƚĂĂŶtĂůŝŵĂŶĂƚĚĂůĂŵŚĂůtĂůŝŵĂŶĂƚŵĞŶŐƵŶĚƵƌŬĂŶĚŝƌŝĂƚĂƵWĞƌƐĞƌŽĂŶƚŝĚĂŬŵĞŵďĂLJĂƌ
ŝŵďĂůĂŶũĂƐĂtĂůŝŵĂŶĂƚƐĞďĂŐĂŝŵĂŶĂƚĞƌƐĞďƵƚĚĂůĂŵWĂƐĂůϰWĞƌũĂŶũŝĂŶWĞƌǁĂůŝĂŵĂŶĂƚĂŶ͕ƐĞƚĞůĂŚtĂůŝ
ŵĂŶĂƚŵĞŶŐĂũƵŬĂŶƉĞƌŵŝŶƚĂĂŶƉĞŵďĂLJĂƌĂŶƐĞĐĂƌĂƚĞƌƚƵůŝƐƐĞďĂŶLJĂŬϯ;ƚŝŐĂͿŬĂůŝďĞƌƚƵƌƵƚͲƚƵƌƵƚŬĞƉĂĚĂ
WĞƌƐĞƌŽĂŶ͘
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ϳ͘ /ŬŚƚŝƐĂƌ>ĂƉŽƌĂŶ<ĞƵĂŶŐĂŶtĂůŝŵĂŶĂƚ
ŝďĂǁĂŚŝŶŝĚŝƐĂũŝŬĂŶŝŬŚƚŝƐĂƌĚĂƚĂŬĞƵĂŶŐĂŶƉĞŶƚŝŶŐWdĂŶŬDĞŐĂdďŬƉĂĚĂϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯƐĞƌƚĂ
ƵŶƚƵŬƚĂŚƵŶLJĂŶŐďĞƌĂŬŚŝƌƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰĚĂŶϮϬϮϯ;ĂƵĚŝƚĞĚͿ͘
>ĂƉŽƌĂŶŬĞƵĂŶŐĂŶĂŶŬDĞŐĂƉĂĚĂƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϰƚĞůĂŚĚŝĂƵĚŝƚŽůĞŚ<WŵŝƌďĂĚŝ:ƵƐƵĨ͕ƌLJĂŶƚŽ͕
DĂǁĂƌΘZĞŬĂŶ;Z^D/ŶĚŽŶĞƐŝĂͿĚĞŶŐĂŶƉĂƌƚŶĞƌƉĞŶĂŶŐŐƵŶŐũĂǁĂďĂĚĂůĂŚŝŵŽ/ŵĂŶ^ĂŶƚŽƐŽ͕W͕ĂƵĚŝƚŽƌ
ŝŶĚĞƉĞŶĚĞŶ͕ďĞƌĚĂƐĂƌŬĂŶƐƚĂŶĚĂƌĂƵĚŝƚLJĂŶŐĚŝƚĞƚĂƉŬĂŶŽůĞŚ/W/ĚĞŶŐĂŶŽƉŝŶŝtĂũĂƌ͕ƐĞďĂŐĂŝŵĂŶĂƚĞƌĐĂŶƚƵŵ
ĚĂůĂŵůĂƉŽƌĂŶŶLJĂƚĞƌƚĂŶŐŐĂůϳ&ĞďƌƵĂƌŝϮϬϮϱ͘^ĞĚĂŶŐŬĂŶůĂƉŽƌĂŶŬĞƵĂŶŐĂŶƵŶƚƵŬƚĂŶŐŐĂůϯϭĞƐĞŵďĞƌϮϬϮϯ
ĚŝĂŵďŝůĚĂƌŝ>ĂƉŽƌĂŶ<ĞƵĂŶŐĂŶLJĂŶŐƚĞůĂŚĚŝĂƵĚŝƚŽůĞŚ<WŵŝƌďĂĚŝ:ƵƐƵĨ͕ƌLJĂŶƚŽ͕DĂǁĂƌΘZĞŬĂŶ;Z^D
/ŶĚŽŶĞƐŝĂͿ ĚĞŶŐĂŶ ƉĂƌƚŶĞƌ ƉĞŶĂŶŐŐƵŶŐ ũĂǁĂď ĂĚĂůĂŚ ŝŵŽ /ŵĂŶ ^ĂŶƚŽƐŽ͕ W͕ ĂƵĚŝƚŽƌ ŝŶĚĞƉĞŶĚĞŶ͕
ďĞƌĚĂƐĂƌŬĂŶ ƐƚĂŶĚĂƌ ĂƵĚŝƚ LJĂŶŐ ĚŝƚĞƚĂƉŬĂŶ ŽůĞŚ /W/ ĚĞŶŐĂŶ ŽƉŝŶŝ tĂũĂƌ͕ ƐĞďĂŐĂŝŵĂŶĂ ƚĞƌĐĂŶƚƵŵ ĚĂůĂŵ
ůĂƉŽƌĂŶŶLJĂƚĞƌƚĂŶŐŐĂůϮϲ:ĂŶƵĂƌŝϮϬϮϰƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
>WKZEWK^/^/< hE'E
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌ
WŽƐͲWŽƐ
ϮϬϮϰ ϮϬϮϯ
^ d
<ĂƐ ϴϳϯ͘ϱϬϵ ϴϱϱ͘ϮϮϮ
'ŝƌŽƉĂĚĂĂŶŬ/ŶĚŽŶĞƐŝĂ ϳ͘ϱϮϱ͘Ϯϰϱ ϲ͘ϴϮϮ͘ϰϯϯ
'ŝƌŽƉĂĚĂďĂŶŬůĂŝŶ
WŝŚĂŬďĞƌĞůĂƐŝ ϯϲϬ ϭϬϰ
WŝŚĂŬŬĞƚŝŐĂ ϵϱϱ͘ϬϯϮ ϲϰϱ͘ϳϳϮ
dŽƚĂů ϵϱϱ͘ϯϵϮ ϲϰϱ͘ϴϳϲ
ŝŬƵƌĂŶŐŝ͗
ĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝ ;Ϯ͘ϭϴϲͿ ;ϭ͘ϮϬϯͿ
'ŝƌŽƉĂĚĂďĂŶŬůĂŝŶͲŶĞƚŽ ϵϱϯ͘ϮϬϲ ϲϰϰ͘ϲϳϯ
WĞŶĞŵƉĂƚĂŶƉĂĚĂĂŶŬ/ŶĚŽŶĞƐŝĂĚĂŶďĂŶŬůĂŝŶ
WŝŚĂŬďĞƌĞůĂƐŝ Ͳ Ͳ
WŝŚĂŬŬĞƚŝŐĂ ϴϯϭ͘ϴϮϲ ϯ͘ϯϱϲ͘ϬϬϬ
ŝŬƵƌĂŶŐŝ͗
ĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝ Ͳ ;ϯ͘ϯϳϯͿ
WĞŶĞŵƉĂƚĂŶƉĂĚĂĂŶŬ/ŶĚŽŶĞƐŝĂĚĂŶďĂŶŬůĂŝŶͲŶĞƚŽ ϴϯϭ͘ϴϮϲ ϯ͘ϯϱϮ͘ϲϮϳ
ĨĞŬͲĞĨĞŬ
WŝŚĂŬĞƌĞůĂƐŝ ϭϵϴ͘ϴϯϮ ϭϵϴ͘Ϯϴϴ
WŝŚĂŬ<ĞƚŝŐĂ ϰϵ͘ϯϬϰ͘ϳϳϴ ϯϳ͘ϰϮϲ͘ϯϬϬ
dŽƚĂů ϰϵ͘ϱϬϯ͘ϲϭϬ ϯϳ͘ϲϮϰ͘ϱϴϴ
ŝŬƵƌĂŶŐŝ͗
ĂĚĂŶŐĂŶ<ĞƌƵŐŝĂŶWĞŶƵƌƵŶĂŶEŝůĂŝ Ͳ Ͳ
ĨĞŬͲĞĨĞŬͲŶĞƚŽ ϰϵ͘ϱϬϯ͘ϲϭϬ ϯϳ͘ϲϮϰ͘ϱϴϴ
ĨĞŬͲĞĨĞŬLJĂŶŐĚŝďĞůŝĚĞŶŐĂŶũĂŶũŝĚŝũƵĂůŬĞŵďĂůŝ
WŝŚĂŬďĞƌĞůĂƐŝ Ͳ Ͳ
WŝŚĂŬŬĞƚŝŐĂ ϭ͘ϯϴϵ͘ϵϴϭ ϳ͘Ϯϭϱ͘ϰϰϭ
dĂŐŝŚĂŶĚĞƌŝǀĂƚŝĨ
WŝŚĂŬďĞƌĞůĂƐŝ Ϯ͘ϭϬϭ Ͳ
WŝŚĂŬŬĞƚŝŐĂ ϰϲ͘ϲϯϯ ϮϬ͘ϵϳϰ
dŽƚĂů ϰϴ͘ϳϯϰ ϮϬ͘ϵϳϰ
<ƌĞĚŝƚLJĂŶŐĚŝďĞƌŝŬĂŶ
WŝŚĂŬďĞƌĞůĂƐŝ ϭ͘ϳϰϯ͘ϬϱϬ ϭ͘ϯϭϴ͘ϱϵϮ
137
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;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌ
WŽƐͲWŽƐ
ϮϬϮϰ ϮϬϮϯ
WŝŚĂŬŬĞƚŝŐĂ ϲϮ͘ϵϭϭ͘ϲϬϮ ϲϰ͘ϵϴϲ͘ϭϮϳ
dŽƚĂů ϲϰ͘ϲϱϰ͘ϲϱϮ ϲϲ͘ϯϬϰ͘ϳϭϵ
WĞŶĚĂƉĂƚĂŶďƵŶŐĂLJĂŶŐĚŝƚĂŶŐŐƵŚŬĂŶ ;ϵ͘ϯϳϭͿ ;ϭϭ͘ϴϮϯͿ
dŽƚĂů<ƌĞĚŝƚLJĂŶŐĚŝďĞƌŝŬĂŶ ϲϬ͘ϲϳϳ͘ϰϭϱ ϰϴ͘ϰϴϲ͘ϱϮϰ
ŝŬƵƌĂŶŐŝ͗
ĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝ ;ϲϲϰ͘ϴϳϳͿ ;ϲϬϰ͘ϴϭϲͿ
<ƌĞĚŝƚLJĂŶŐĚŝďĞƌŝŬĂŶͲŶĞƚŽ ϲϯ͘ϵϴϬ͘ϰϬϰ ϲϱ͘ϲϴϴ͘ϬϴϬ
dĂŐŝŚĂŶĂŬƐĞƉƚĂƐŝ
WŝŚĂŬďĞƌĞůĂƐŝ Ͳ Ͳ
WŝŚĂŬŬĞƚŝŐĂ ϵ͘Ϯϯϰ Ͳ
ŝŬƵƌĂŶŐŝ͗
ĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝ ;ϭϮͿ Ͳ
dĂŐŝŚĂŶĂŬƐĞƉƚĂƐŝͲŶĞƚŽ ϵ͘ϮϮϮ Ͳ
ƐĞƚƉĂũĂŬƚĂŶŐŐƵŚĂŶ ϭϬϱ͘ϱϰϮ Ͳ
ƐĞƚƚĞƚĂƉĚĂŶĂƐĞƚŚĂŬŐƵŶĂ ϴ͘ϮϬϱ͘ϰϰϭ ϴ͘ϭϮϭ͘ϴϴϱ
ŝŬƵƌĂŶŐŝ͗
ŬƵŵƵůĂƐŝƉĞŶLJƵƐƵƚĂŶ ;Ϯ͘ϭϯϭ͘ϰϮϴͿ ;ϭ͘ϵϮϰ͘ϭϮϳͿ
ƐĞƚƚĞƚĂƉĚĂŶĂƐĞƚŚĂŬŐƵŶĂͲŶĞƚŽ ϲ͘Ϭϳϰ͘Ϭϭϯ ϲ͘ϭϵϳ͘ϳϱϴ
ƐĞƚůĂŝŶͲůĂŝŶ
WŝŚĂŬďĞƌĞůĂƐŝ ϭϱ͘ϲϴϭ ϭϱ͘ϳϱϭ
WŝŚĂŬŬĞƚŝŐĂ ϯ͘ϲϬϰ͘ϱϮϭ ϯ͘ϲϭϮ͘Ϭϰϰ
dKd>^ d ϭϯϰ͘ϵϭϱ͘ϰϵϰ ϭϯϮ͘Ϭϰϵ͘ϱϵϭ
>//>/d^
>ŝĂďŝůŝƚĂƐƐĞŐĞƌĂ ϭϳϵ͘ϯϭϴ Ϯϵϲ͘ϭϳϵ
^ŝŵƉĂŶĂŶĚĂƌŝŶĂƐĂďĂŚ
'ŝƌŽ
WŝŚĂŬďĞƌĞůĂƐŝ ϯϴϳ͘Ϯϰϲ ϰϴϮ͘ϳϴϯ
WŝŚĂŬŬĞƚŝŐĂ ϵ͘ϵϵϱ͘ϰϬϮ ϵ͘ϲϰϮ͘ϵϰϮ
dŽƚĂů ϭϬ͘ϯϴϮ͘ϲϰϴ ϭϬ͘ϭϮϱ͘ϳϮϱ
dĂďƵŶŐĂŶ
WŝŚĂŬďĞƌĞůĂƐŝ ϳϮ͘ϯϯϵ ϭϭϯ͘ϲϰϯ
WŝŚĂŬŬĞƚŝŐĂ ϭϳ͘ϭϭϱ͘ϯϬϱ ϭϱ͘ϱϰϴ͘ϱϵϴ
dŽƚĂů ϭϳ͘ϭϴϳ͘ϲϰϰ ϭϱ͘ϲϲϮ͘Ϯϰϭ
ĞƉŽƐŝƚŽďĞƌũĂŶŐŬĂ
WŝŚĂŬďĞƌĞůĂƐŝ ϲϮϮ͘ϬϵϬ ϭ͘ϳϭϳ͘ϯϭϳ
WŝŚĂŬŬĞƚŝŐĂ ϲϯ͘ϰϳϲ͘ϵϭϱ ϲϭ͘ϵϯϬ͘ϰϲϳ
dŽƚĂů ϲϰ͘Ϭϵϵ͘ϬϬϱ ϲϯ͘ϲϰϳ͘ϳϴϰ
^ŝŵƉĂŶĂŶĚĂƌŝďĂŶŬůĂŝŶ
WŝŚĂŬďĞƌĞůĂƐŝ ϭ͘ϴϬϴ͘ϵϰϵ ϭ͘ϮϬϮ͘ϬϴϮ
WŝŚĂŬŬĞƚŝŐĂ Ϯ͘ϬϮϰ͘Ϭϴϯ Ϯ͘ϲϳϬ͘ϱϭϰ
dŽƚĂů ϯ͘ϴϯϯ͘ϬϯϮ ϯ͘ϴϳϮ͘ϱϵϲ
ĨĞŬͲĞĨĞŬLJĂŶŐĚŝũƵĂůĚĞŶŐĂŶũĂŶũŝĚŝďĞůŝŬĞŵďĂůŝ
WŝŚĂŬďĞƌĞůĂƐŝ Ϯϯϲ͘Ϯϳϱ Ͳ
WŝŚĂŬŬĞƚŝŐĂ ϭϮ͘ϳϭϬ͘ϵϭϯ ϭϮ͘ϱϳϯ͘Ϯϯϭ
138
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;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌ
WŽƐͲWŽƐ
ϮϬϮϰ ϮϬϮϯ
dŽƚĂů ϭϮ͘ϵϰϳ͘ϭϴϴ ϭϮ͘ϱϳϯ͘Ϯϯϭ
>ŝĂďŝůŝƚĂƐĚĞƌŝǀĂƚŝĨ ϭϮϭ͘Ϭϱϵ ϭϴ͘ϵϯϭ
hƚĂŶŐƉĂũĂŬ ϮϮϮ͘Ϭϲϰ ϭϯϴ͘ϱϯϱ
WŝŶũĂŵĂŶLJĂŶŐĚŝƚĞƌŝŵĂ ϯ͘ϵϴϳ͘ϲϬϬ Ϯ͘ϵϬϵ͘ϮϮϴ
hƚĂŶŐĂŬƐĞƉƚĂƐŝ ϵ͘Ϯϯϰ Ͳ
>ŝĂďŝůŝƚĂƐƉĂũĂŬƚĂŶŐŐƵŚĂŶͲŶĞƚŽ Ͳ ϭϱϲ͘ϴϭϮ
>ŝĂďŝůŝƚĂƐŝŵďĂůĂŶƉĂƐĐĂŬĞƌũĂ Ϯϵϲ͘ϰϭϰ Ϯϳϳ͘ϱϯϬ
KďůŝŐĂƐŝ^ƵďŽƌĚŝŶĂƐŝͲŶĞƚŽ
WŝŚĂŬďĞƌĞůĂƐŝ ϰϴ͘ϬϬϬ ϰϴ͘ϬϬϬ
WŝŚĂŬŬĞƚŝŐĂ Ϯ͘ϬϬϬ Ϯ͘ϬϬϬ
dŽƚĂů ϱϬ͘ϬϬϬ ϱϬ͘ϬϬϬ
ĞďĂŶLJĂŶŐŵĂƐŝŚŚĂƌƵƐĚŝďĂLJĂƌĚĂŶůŝĂďŝůŝƚĂƐůĂŝŶͲůĂŝŶ
WŝŚĂŬďĞƌĞůĂƐŝ ϭ͘ϵϭϮ ϰ͘ϳϬϯ
WŝŚĂŬŬĞƚŝŐĂ ϰϭϲ͘ϭϳϱ ϱϲϬ͘ϲϱϯ
dŽƚĂů ϰϭϴ͘Ϭϴϳ ϱϲϱ͘ϯϱϲ
dKd>>//>/d^ ϭϭϯ͘ϳϯϯ͘Ϯϵϯ ϭϭϬ͘Ϯϵϰ͘ϭϰϴ
<h/d^
DŽĚĂůƐĂŚĂŵͲŶŝůĂŝŶŽŵŝŶĂůZƉϱϬϬ;ŶŝůĂŝƉĞŶƵŚͿƉĞƌƐĂŚĂŵ
DŽĚĂůĚĂƐĂƌͲϮϳ͘ϬϬϬ͘ϬϬϬ͘ϬϬϬƐĂŚĂŵ
DŽĚĂůĚŝƚĞŵƉĂƚŬĂŶĚĂŶĚŝƐĞƚŽƌƉĞŶƵŚϭϭ͘ϳϰϬ͘ϵϮϯ͘ϯϲϱƐĂŚĂŵ ϱ͘ϴϳϬ͘ϰϲϮ ϱ͘ϴϳϬ͘ϰϲϱ
dĂŵďĂŚĂŶŵŽĚĂůĚŝƐĞƚŽƌ ϲ͘ϯϰϳ͘ϰϵϭ ϲ͘ϯϰϳ͘ϰϵϭ
ĂĚĂŶŐĂŶƵŵƵŵ ϭ͘ϳϴϲ ϭ͘ϳϭϲ
^ĂůĚŽůĂďĂ ϲ͘ϲϳϭ͘ϬϮϬ ϲ͘ϮϮϭ͘ϲϵϲ
WĞŶŐŚĂƐŝůĂŶŬŽŵƉƌĞŚĞŶƐŝĨůĂŝŶ Ϯ͘Ϯϵϭ͘ϰϰϮ ϯ͘ϯϭϰ͘Ϭϳϴ
dKd> <h/d^ Ϯϭ͘ϭϴϮ͘ϮϬϭ Ϯϭ͘ϳϱϱ͘ϰϰϯ
dKd>>//>/d^E <h/d^ ϭϯϰ͘ϵϭϱ͘ϰϵϰ ϭϯϮ͘Ϭϰϵ͘ϱϵϭ
>WKZE>Zh'/
;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌ
WŽƐͲWŽƐ
ϮϬϮϰ ϮϬϮϯ
W EWdEE EKW Z^/KE>
WĞŶĚĂƉĂƚĂŶďƵŶŐĂ ϭϬ͘Ϯϴϵ͘ϯϬϲ ϭϬ͘Ϯϳϭ͘ϱϯϮ
ĞďĂŶďƵŶŐĂ ;ϱ͘ϭϴϵ͘ϱϲϳͿ ;ϰ͘ϲϴϱ͘ϯϴϳͿ
W EWdEhE'ͲE dK ϱ͘Ϭϵϵ͘ϳϯϵ ϱ͘ϱϯϮ͘ϭϰϱ
W EWdEKW Z^/KE>>/EEz
WƌŽǀŝƐŝĚĂŶŬŽŵŝƐŝ ϭ͘ϲϵϲ͘ϴϵϭ ϭ͘ϲϳϭ͘ϵϭϭ
<ĞƵŶƚƵŶŐĂŶƉĞŶũƵĂůĂŶĞĨĞŬͲĞĨĞŬͲŶĞƚŽ ϳϬ͘ϰϲϱ ϱϯϱ͘ϯϲϲ
<ĞƵŶƚƵŶŐĂŶƚƌĂŶƐĂŬƐŝŵĂƚĂƵĂŶŐĂƐŝŶŐͲŶĞƚŽ ϯϲ͘ϰϲϲ ϱϱ͘Ϯϱϱ
<ĞƵŶƚƵŶŐĂŶƉĞƌƵďĂŚĂŶŶŝůĂŝǁĂũĂƌŝŶƐƚƌƵŵĞŶŬĞƵĂŶŐĂŶͲŶĞƚŽ ϯ͘ϮϬϮ ϭϰ͘ϳϵϰ
>ĂŝŶͲůĂŝŶ ϴ͘ϯϯϮ ϭϬ͘ϳϬϰ
dŽƚĂůƉĞŶĚĂƉĂƚĂŶŽƉĞƌĂƐŝŽŶĂůůĂŝŶŶLJĂ ϭ͘ϴϭϱ͘ϯϱϲ Ϯ͘Ϯϴϴ͘ϬϯϬ
EKW Z^/KE>>/EEz
WƌŽǀŝƐŝĚĂŶŬŽŵŝƐŝ ;ϭϮ͘ϱϯϲͿ ;ϭϭ͘ϰϮϳͿ
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;ĚĂůĂŵũƵƚĂĂŶZƵƉŝĂŚͿ
ϯϭĞƐĞŵďĞƌ
WŽƐͲWŽƐ
ϮϬϮϰ ϮϬϮϯ
ĞďĂŶĐĂĚĂŶŐĂŶŬĞƌƵŐŝĂŶƉĞŶƵƌƵŶĂŶŶŝůĂŝĂƐĞƚŬĞƵĂŶŐĂŶĚĂŶĂƐĞƚŶŽŶͲ
;Ϯϭϲ͘ϰϲϰͿ ;ϭϵϱ͘ϯϭϴͿ
ŬĞƵĂŶŐĂŶͲŶĞƚŽ
ĞďĂŶƵŵƵŵĚĂŶĂĚŵŝŶŝƐƚƌĂƐŝ ;Ϯ͘Ϭϱϱ͘ϲϳϬͿ ;ϭ͘ϴϭϳ͘ϱϲϱͿ
ĞďĂŶŐĂũŝĚĂŶƚƵŶũĂŶŐĂŶůĂŝŶŶLJĂ ;ϭ͘ϯϵϵ͘ϮϬϳͿ ;ϭ͘ϰϲϯ͘ϯϴϳͿ
dKd> EKW Z^/KE>>/EEz ;ϯ͘ϲϴϯ͘ϴϳϳͿ ;ϯ͘ϰϴϳ͘ϲϵϳͿ
W EWdEKW Z^/KE>ͲE dK ϯ͘Ϯϯϭ͘Ϯϭϴ ϰ͘ϯϯϮ͘ϰϳϴ
WĞŶĚĂƉĂƚĂŶŶŽŶͲŽƉĞƌĂƐŝŽŶĂůͲŶĞƚŽ Ϯϱ͘ϲϴϴ ϭϬ͘Ϯϱϭ
>^ >hD EW:< ϯ͘Ϯϱϲ͘ϵϬϲ ϰ͘ϯϰϮ͘ϳϮϵ
ĞďĂŶƉĂũĂŬͲŶĞƚŽ ;ϲϮϱ͘ϴϱϮͿ ;ϴϯϮ͘ϬϱϵͿ
> Z^/, Ϯ͘ϲϯϭ͘Ϭϱϰ ϯ͘ϱϭϬ͘ϲϳϬ
WĞŶŐŚĂƐŝůĂŶŬŽŵƉƌĞŚĞŶƐŝĨůĂŝŶ͗
WŽƐͲƉŽƐLJĂŶŐƚŝĚĂŬĂŬĂŶĚŝƌĞŬůĂƐŝĨŝŬĂƐŝŬĞůĂďĂƌƵŐŝ͗
WĞŶŐƵŬƵƌĂŶŬĞŵďĂůŝůŝĂďŝůŝƚĂƐŝŵďĂůĂŶƉĂƐĐĂŬĞƌũĂͲŶĞƚŽ ;ϱϬ͘ϳϰϱͿ ;ϰϴ͘ϱϯϯͿ
WŽƐLJĂŶŐĂŬĂŶĚŝƌĞŬůĂƐŝĨŝŬĂƐŝŬĞůĂďĂƌƵŐŝ͗
WĞƌƵďĂŚĂŶ ŶŝůĂŝ ǁĂũĂƌ ĞĨĞŬͲĞĨĞŬ LJĂŶŐ ĚŝƵŬƵƌ ƉĂĚĂ ŶŝůĂŝ ǁĂũĂƌ ŵĞůĂůƵŝ
ƉĞŶŐŚĂƐŝůĂŶŬŽŵƉƌĞŚĞŶƐŝĨůĂŝŶͲŶĞƚŽ ;ϲϵϲ͘ϭϯϭͿ ϰϵϲ͘ϰϰϰ
dKd>W E',^/>E<KDWZ , E^/&d,hE Z:>E ϭ͘ϴϴϰ͘ϭϳϴ ϯ͘ϵϱϴ͘ϱϴϭ
>W Z^,D^Z;ŶŝůĂŝƉĞŶƵŚͿ ϮϮϰ Ϯϵϵ
ůĂŵĂƚWdĂŶŬDĞŐĂdďŬ͘ĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
WdE<D 'dďŬ͘
DĞŶĂƌĂĂŶŬDĞŐĂ>ĂŶƚĂŝϭϲ
:ĂůĂŶ<ĂƉƚĞŶdĞŶĚĞĂŶEŽ͘ϭϮͲϭϰ
:ĂŬĂƌƚĂϭϮϳϵϬ
dĞůĞƉŽŶ͗;ϬϮϭͿϳϵϭϳϱϬϬϬ
&ĂŬƐŝŵŝůŝ͗;ϬϮϭͿϳϵϭϴϳϭϬϬ
ͲŵĂŝů͗ǁĂůŝĂŵĂŶĂƚΛďĂŶŬŵĞŐĂ͘ĐŽŵ
hƉ͗͘ĂƉŝƚĂůDĂƌŬĞƚ^ĞƌǀŝĐĞƐ
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y//͘ > D'EWZK& ^/W EhE:E'W^ZDK>>DZE'<
W EtZEhDhD
>ĞŵďĂŐĂĚĂŶWƌŽĨĞƐŝWĞŶƵŶũĂŶŐWĂƐĂƌDŽĚĂůLJĂŶŐďĞƌƉĞƌĂŶĚĂůĂŵƉĞŶĂǁĂƌĂŶƵŵƵŵŝŶŝĂĚĂůĂŚƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
<ŽŶƐƵůƚĂŶ ͗ Thamrin & Rekan (“TR&Co”)
,ƵŬƵŵ DĞŶĂƌĂ<ƵŶŝŶŐĂŶϭϮƚŚΘϵƚŚ&ůŽŽƌ
:ů͘,Z͘ZĂƐƵŶĂ^ĂŝĚůŽŬyͲϳ͕<ĂǀͲϱ:ĂŬĂƌƚĂ^ĞůĂƚĂŶϭϮϵϰϬ
^ƵƌĂƚWĞŶƵŶũƵŬĂŶ ͗ ĚŝƚƵŶũƵŬ ŽůĞŚ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ^ƵƌĂƚ dZΘŽ
EŽ͘ ZĞĨ͗ ϬϭϬͬ>K&Ͳ/D&/ͬdZͬ,Eͬ/ͬϮϬϮϱ ƚĂŶŐŐĂů
ϵ :ĂŶƵĂƌŝ ϮϬϮϱ LJĂŶŐ ƚƵƌƵƚ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ
ŝƌĞŬƚƵƌWĞƌƐĞƌŽĂŶ͘
EŽ͘^dd ͗ ^dd͘<,ͲϭϬϳͬW:ͲϭͬWD͘ϬϮͬϮϬϮϯ ƚĂŶŐŐĂů ϭϱ DĞŝ ϮϬϮϯ
ĂƚĂƐŶĂŵĂ/ƐǁŝƌĂ>ĂŬƐĂŶĂ͕^͘,͕͘D͘^ŝ͘
<ĞĂŶŐŐŽƚĂĂŶƐŽƐŝĂƐŝ ͗ ,ŝŵƉƵŶĂŶ<ŽŶƐƵůƚĂŶ,ƵŬƵŵWĂƐĂƌDŽĚĂůEŽ͘ϵϵϬϭϮ
ĂƚĂƐŶĂŵĂ/ƐǁŝƌĂ>ĂŬƐĂŶĂ͕^͘,͕͘D͘^ŝ͘
WĞĚŽŵĂŶ<ĞƌũĂ ͗ ^ƚĂŶĚĂƌ WƌŽĨĞƐŝ <ŽŶƐƵůƚĂŶ ,ƵŬƵŵ WĂƐĂƌ DŽĚĂů LJĂŶŐ
ĚŝŬĞůƵĂƌŬĂŶ ŽůĞŚ ,ŝŵƉƵŶĂŶ <ŽŶƐƵůƚĂŶ ,ƵŬƵŵ WĂƐĂƌ
DŽĚĂů ;,<,WDͿ ďĞƌĚĂƐĂƌŬĂŶ ^ƵƌĂƚ <ĞƉƵƚƵƐĂŶ
,<,WD EŽ͘ < W͘Ϭϯͬ,<,WDͬy/ͬϮϬϮϭ ƚĂŶŐŐĂů
ϭϬ EŽǀĞŵďĞƌ ϮϬϮϭ dĞŶƚĂŶŐ WĞƌƵďĂŚĂŶ <ĞƉƵƚƵƐĂŶ
,ŝŵƉƵŶĂŶ <ŽŶƐƵůƚĂŶ ,ƵŬƵŵ WĂƐĂƌ DŽĚĂů EŽ͘
< W͘ϬϮͬ,<,WDͬs///ͬϮϬϭϴ dĞŶƚĂŶŐ ^ƚĂŶĚĂƌ WƌŽĨĞƐŝ
<ŽŶƐƵůƚĂŶ ,ƵŬƵŵ WĂƐĂƌ DŽĚĂů͕ LJĂŶŐ ďĞƌůĂŬƵ ĞĨĞŬƚŝĨ
ƐĞũĂŬƚĂŶŐŐĂůϭϬEŽǀĞŵďĞƌϮϬϮϭ͘
dƵŐĂƐWŽŬŽŬ ͗ dƵŐĂƐ ƵƚĂŵĂ ĚĂƌŝ <ŽŶƐƵůƚĂŶ ,ƵŬƵŵ ĚĂůĂŵ ƌĂŶŐŬĂ
ƉĞŶĞƌďŝƚĂŶ KďůŝŐĂƐŝ ŝŶŝ ĂĚĂůĂŚ ŵĞůĂŬƵŬĂŶ
ƉĞŵĞƌŝŬƐĂĂŶ ĚĂŶ ƉĞŶĞůŝƚŝĂŶ ĚĞŶŐĂŶ ŬĞŵĂŵƉƵĂŶ
ƚĞƌďĂŝŬ LJĂŶŐ ĚŝŵŝůŝŬŝŶLJĂ ĂƚĂƐ ĨĂŬƚĂ ĚĂƌŝ ƐĞŐŝ ŚƵŬƵŵ
LJĂŶŐ ĂĚĂ ŵĞŶŐĞŶĂŝ WĞƌƐĞƌŽĂŶ ĚĂŶ ŬĞƚĞƌĂŶŐĂŶ ůĂŝŶ
LJĂŶŐ ďĞƌŚƵďƵŶŐĂŶ ĚĞŶŐĂŶ ŝƚƵ ƐĞďĂŐĂŝŵĂŶĂ
ĚŝƐĂŵƉĂŝŬĂŶ ŽůĞŚ WĞƌƐĞƌŽĂŶ͘ ,ĂƐŝů ƉĞŵĞƌŝŬƐĂĂŶ ĚĂŶ
ƉĞŶĞůŝƚŝĂŶ ŵĂŶĂ ƚĞůĂŚ ĚŝŵƵĂƚ ĚĂůĂŵ >ĂƉŽƌĂŶ hũŝ
dƵŶƚĂƐ Ăƌŝ ^ĞŐŝ ,ƵŬƵŵ LJĂŶŐ ŵĞŶũĂĚŝ ĚĂƐĂƌ ĚĂƌŝ
WĞŶĚĂƉĂƚ Ăƌŝ ^ĞŐŝ ,ƵŬƵŵ LJĂŶŐ ĚŝďĞƌŝŬĂŶ ƐĞĐĂƌĂ
ŽďLJĞŬƚŝĨ ĚĂŶ ŵĂŶĚŝƌŝ ƐĞƌƚĂ ŐƵŶĂ ŵĞŶĞůŝƚŝ ŝŶĨŽƌŵĂƐŝ
LJĂŶŐ ĚŝŵƵĂƚ ĚĂůĂŵ WƌŽƐƉĞŬƚƵƐ ƐĞƉĂŶũĂŶŐ
ŵĞŶLJĂŶŐŬƵƚƐĞŐŝŚƵŬƵŵ͘dƵŐĂƐĚĂŶĨƵŶŐƐŝ<ŽŶƐƵůƚĂŶ
,ƵŬƵŵ LJĂŶŐ ĚŝƵƌĂŝŬĂŶ Ěŝ ƐŝŶŝ ĂĚĂůĂŚ ƐĞƐƵĂŝ ĚĞŶŐĂŶ
^ƚĂŶĚĂƌ WƌŽĨĞƐŝ ,ŝŵƉƵŶĂŶ <ŽŶƐƵůƚĂŶ ,ƵŬƵŵ WĂƐĂƌ
DŽĚĂů LJĂŶŐ ďĞƌůĂŬƵ ŐƵŶĂ ŵĞůĂŬƐĂŶĂŬĂŶ ƉƌŝŶƐŝƉ
ŬĞƚĞƌďƵŬĂĂŶ͘
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<ĂŶƚŽƌ ŬƵŶƚĂŶ ͗ <WWƵƌǁĂŶƚŽŶŽ͕^ƵŶŐŬŽƌŽΘ^ƵƌũĂ
WƵďůŝŬ /ŶĚŽŶĞƐŝĂ^ƚŽĐŬ džĐŚĂŶŐĞƵŝůĚŝŶŐ
dŽǁĞƌϮ͕ϳƚŚ&ůŽŽƌ
:ů:ĞŶĚ^ƵĚŝƌŵĂŶ<Ăǀ͘ϱϮͲϱϯ
:ĂŬĂƌƚĂϭϮϭϵϬ
^ƵƌĂƚWĞŶƵŶũƵŬĂŶ ͗ ĚŝƚƵŶũƵŬ ŽůĞŚ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ďĞƌĚĂƐĂƌŬĂŶ
^ƵƌĂƚEŽ͘ϬϭϬϮͬW^^ͬϬϮͬϮϬϮϱƚĂŶŐŐĂůϮϭ&ĞďƌƵĂƌŝϮϬϮϱ
LJĂŶŐƚƵƌƵƚĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚŝƌĞŬƚƵƌWĞƌƐĞƌŽĂŶ
EŽ͘^dd ͗ ^dd͘WͲϱϰͬWD͘ϮϮϯͬϮϬϮϭ
<ĞĂŶŐŐŽƚĂĂŶƐŽƐŝĂƐŝ ͗ W͘ϭϭϳϵ
/W/ŝ
WĞĚŽŵĂŶ<ĞƌũĂ ͗ ^ƚĂŶĚĂƌ WƌŽĨĞƐŝŽŶĂů ŬƵŶƚĂŶ WƵďůŝŬ ;^WWͿ LJĂŶŐ
ĚŝƚĞƚĂƉŬĂŶŽůĞŚ
/ŶƐƚŝƚƵƚŬƵŶƚĂŶWƵďůŝŬ/ŶĚŽŶĞƐŝĂ
dƵŐĂƐWŽŬŽŬ ͗ DĞůĂŬƵŬĂŶ ĂƵĚŝƚ ďĞƌĚĂƐĂƌŬĂŶ ^ƚĂŶĚĂƌ ƵĚŝƚ LJĂŶŐ
ĚŝƚĞƚĂƉŬĂŶ ŽůĞŚ /ŶƐƚŝƚƵƚ ŬƵŶƚĂŶ WƵďůŝŬ /ŶĚŽŶĞƐŝĂ
;/W/Ϳ͘^ƚĂŶĚĂƌƚĞƌƐĞďƵƚŵĞŶŐŚĂƌƵƐŬĂŶŬƵŶƚĂŶWƵďůŝŬ
ŵĞƌĞŶĐĂŶĂŬĂŶ ĚĂŶ ŵĞůĂŬƐĂŶĂŬĂŶ ĂƵĚŝƚ ĂŐĂƌ
ĚŝƉĞƌŽůĞŚ ŬĞLJĂŬŝŶĂŶ LJĂŶŐ ŵĞŵĂĚĂŝ ďĂŚǁĂ ůĂƉŽƌĂŶ
ŬĞƵĂŶŐĂŶ ďĞďĂƐ ĚĂƌŝ ƐĂůĂŚ ƐĂũŝ LJĂŶŐ ŵĂƚĞƌŝĂů ĚĂŶ
ďĞƌƚĂŶŐŐƵŶŐ ũĂǁĂď ĂƚĂƐ ƉĞŶĚĂƉĂƚ LJĂŶŐ ĚŝďĞƌŝŬĂŶ
ƚĞƌŚĂĚĂƉ ůĂƉŽƌĂŶ ŬĞƵĂŶŐĂŶ LJĂŶŐ ĚŝĂƵĚŝƚ͘ dƵŐĂƐ
ŬƵŶƚĂŶ WƵďůŝŬ ŵĞůŝƉƵƚŝ ƉĞŵĞƌŝŬƐĂĂŶ ĂƚĂƐ ĚĂƐĂƌ
ƉĞŶŐƵũŝĂŶ ďƵŬƚŝͲďƵŬƚŝ ƉĞŶĚƵŬƵŶŐ ĚĂůĂŵ
ƉĞŶŐƵŶŐŬĂƉĂŶůĂƉŽƌĂŶŬĞƵĂŶŐĂŶ͘
EŽƚĂƌŝƐ ͗ ƵůŝĂdĂƵĨĂŶŝ͕^,͕͘
DĞŶĂƌĂ^ƵĚŝƌŵĂŶ͕ϭϴƚŚ&ůŽŽƌ
:ů͘:ĞŶĚ͘^ƵĚŝƌŵĂŶ<Ăǀ͘ϲϬ
:ĂŬĂƌƚĂϭϮϭϵϬ
^ƵƌĂƚWĞŶƵŶũƵŬĂŶ ͗ ĚŝƚƵŶũƵŬ ŽůĞŚ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ďĞƌĚĂƐĂƌŬĂŶ
^ƵƌĂƚEŽ͘>'>ͬϬϰϱͬ͘/D&/ͬsͬϮϬϮϰƚĂŶŐŐĂůϴDĞŝϮϬϮϰ
LJĂŶŐƚƵƌƵƚĚŝƚĂŶĚĂƚĂŶŐĂŶŝŽůĞŚŝƌĞŬƚƵƌWĞƌƐĞƌŽĂŶ͘
EŽ͘^dd ͗ ^dd͘EͲϱͬW:ͲϭͬWD͘ϬϮͬϮϬϮϯ ƚĂŶŐŐĂů ϵ &ĞďƌƵĂƌŝ ϮϬϮϯ
ĂƚĂƐŶĂŵĂƵůŝĂdĂƵĨĂŶŝ͕^͘,͕͘D͘<Ŷ͘
<ĞĂŶŐŐŽƚĂĂŶƐŽƐŝĂƐŝ ͗ /ŬĂƚĂŶ EŽƚĂƌŝƐ /ŶĚŽŶĞƐŝĂ ;/E/Ϳ ĚĞŶŐĂŶ <ĞĂŶŐŐŽƚĂĂŶ
EŽŵŽƌ͗ϬϬϲϬϮϭϵϳϭϬϳϭϵ
WĞĚŽŵĂŶ<ĞƌũĂ ͗ WĞƌŶLJĂƚĂĂŶ hŶĚĂŶŐͲhŶĚĂŶŐ EŽ͘ ϯϬ ƚĂŚƵŶ ϮϬϬϰ
ƚĞŶƚĂŶŐũĂďĂƚĂŶEŽƚĂƌŝƐĚĂŶ<ŽĚĞĞƚŝŬ/ŬĂƚĂŶEŽƚĂƌŝƐ
/ŶĚĞƉĞŶĚĞŶ͘
dƵŐĂƐWŽŬŽŬ ͗ ^ĞďĂŐĂŝ WƌŽĨĞƐŝ WĞŶƵŶũĂŶŐ WĂƐĂƌ DŽĚĂů ĚĂůĂŵ
ŵĞůĂŬƐĂŶĂŬĂŶ ƚƵŐĂƐŶLJĂ ŵĞůĂŬƐĂŶĂŬĂŶ ƉƌŽƐĞĚƵƌ
ƉĞŬĞƌũĂĂŶ LJĂŝƚƵ ŵĞŵƉĞƌƐŝĂƉŬĂŶ ƉĞƌũĂŶũŝĂŶ LJĂŶŐ
ĚŝŵƵůĂŝĚĂƌŝƉĞŵďƵĂƚĂŶĚƌĂĨƚͲĚƌĂĨƚ͕ƉĞŵďĂŚĂƐĂŶ͕ĚĂŶ
ƉĞŶĂŶĚĂƚĂŶŐĂŶĂŶ ƉĞƌũĂŶũŝĂŶ LJĂŶŐ ƐĞůĂŶũƵƚŶLJĂ
ŵĞŶĞƌďŝƚŬĂŶ ƐĂůŝŶĂŶ ƉĞƌũĂŶũŝĂŶͲƉĞƌũĂŶũŝĂŶ ƚĞƌƐĞďƵƚ͘
ZƵĂŶŐůŝŶŐŬƵƉƚƵŐĂƐEŽƚĂƌŝƐĚĂůĂŵƌĂŶŐŬĂƉĞŶĞƌďŝƚĂŶ
KďůŝŐĂƐŝŝŶŝĂĚĂůĂŚŵĞŵďƵĂƚĂŬƚĂͲĂŬƚĂĚĂůĂŵƌĂŶŐŬĂ
WĞŶĂǁĂƌĂŶ hŵƵŵ ĞƌŬĞůĂŶũƵƚĂŶ KďůŝŐĂƐŝ
ĞƌŬĞůĂŶũƵƚĂŶ s/ /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ĞŶŐĂŶ dŝŶŐŬĂƚ
ƵŶŐĂ dĞƚĂƉ dĂŚĂƉ / dĂŚƵŶ ϮϬϮϱ͕ ĂŶƚĂƌĂ ůĂŝŶ
WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ͕ WĞŶŐĂŬƵĂŶ hƚĂŶŐ ĚĂŶ
WĞƌũĂŶũŝĂŶWĞŶũĂŵŝŶĂŶ ŵŝƐŝKďůŝŐĂƐŝ͕ƐĞƌƚĂĂŬƚĂͲĂŬƚĂ
ƉĞƌƵďĂŚĂŶŶLJĂ
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tĂůŝŵĂŶĂƚ ͗ WdĂŶŬDĞŐĂdďŬ
DĞŶĂƌĂĂŶŬDĞŐĂ>ĂŶƚĂŝϭϲ
:ĂůĂŶ<ĂƉƚĞŶW͘dĞŶĚĞĂŶEŽ͘ϭϮͲϭϰ
:ĂŬĂƌƚĂϭϮϳϵϬ
^ƵƌĂƚWĞŶƵŶũƵŬĂŶ ͗ ĚŝƚƵŶũƵŬ ŽůĞŚ WĞƌƐĞƌŽĂŶ ďĞƌĚĂƐĂƌŬĂŶ ďĞƌĚĂƐĂƌŬĂŶ
^ƵƌĂƚ EŽ͘ >'>ͬϬϬϲͬ͘/D&/ͬ/ͬϮϬϮϱ ƚĂŶŐŐĂů ϵ :ĂŶƵĂƌŝ
ϮϬϮϱ LJĂŶŐ ƚƵƌƵƚ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚ ŝƌĞŬƚƵƌ
WĞƌƐĞƌŽĂŶ͘
EŽ͘^dd ͗ EŽ͘ϮϬͬ^ddͲtͬWDͬϮϬϬϬƚĂŶŐŐĂůϮŐƵƐƚƵƐϮϬϬϬ
<ĞĂŶŐŐŽƚĂĂŶƐŽƐŝĂƐŝ ͗ <ĞĂŶŐŐŽƚĂĂŶƐŽƐŝĂƐŝtĂůŝŵĂŶĂƚ/ŶĚŽŶĞƐŝĂ;t/Ϳ
ƐĞƐƵĂŝ ^ƵƌĂƚ <ĞƚĞƌĂŶŐĂŶ t/ EŽŵŽƌ
t/ͬϬϲͬϭϮͬϮϬϬϴƚĂŶŐŐĂůϭϳĞƐĞŵďĞƌϮϬϬϴ
WĞĚŽŵĂŶ<ĞƌũĂ ͗ WĞĚŽŵĂŶ ŬĞƌũĂ tĂůŝ ŵĂŶĂƚ ŵĞŶŐŝŬƵƚŝ ŬĞƚĞŶƚƵĂŶ
LJĂŶŐ ĚŝĂƚƵƌ ĚĂůĂŵ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶ
hŶĚĂŶŐͲhŶĚĂŶŐ WĂƐĂƌ DŽĚĂů ƐĞƌƚĂ ƉĞƌĂƚƵƌĂŶ LJĂŶŐ
ďĞƌŬĂŝƚĂŶĚĞŶŐĂŶƚƵŐĂƐtĂůŝŵĂŶĂƚ͘
dƵŐĂƐWŽŬŽŬ ͗ Wd ĂŶŬ DĞŐĂ dďŬ͕ ƐĞůĂŬƵ tĂůŝ ŵĂŶĂƚ ĚĂůĂŵ
WĞŶĂǁĂƌĂŶ hŵƵŵ KďůŝŐĂƐŝ ŝŶŝ ĂĚĂůĂŚ DĞǁĂŬŝůŝ
ŬĞƉĞŶƚŝŶŐĂŶ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ďĂŝŬ Ěŝ ĚĂůĂŵ
ŵĂƵƉƵŶ Ěŝ ůƵĂƌ ƉĞŶŐĂĚŝůĂŶ ŵĞŶŐĞŶĂŝ ƉĞůĂŬƐĂŶĂĂŶ
ŚĂŬͲŚĂŬ ƉĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ƐĞƐƵĂŝ ƐLJĂƌĂƚͲƐLJĂƌĂƚ
KďůŝŐĂƐŝ ĚĂŶ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ LJĂŶŐ ƚĞƌĐĂŶƚƵŵ
ĚĂůĂŵ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ƐĞƌƚĂ ƉĞƌĂƚƵƌĂŶ
ƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶLJĂŶŐďĞƌůĂŬƵĚŝEĞŐĂƌĂZĞƉƵďůŝŬ
/ŶĚŽŶĞƐŝĂ ŬŚƵƐƵƐŶLJĂ ƉĞƌĂƚƵƌĂŶ Ěŝ ďŝĚĂŶŐ WĂƐĂƌ
DŽĚĂů͘
WĞƌƵƐĂŚĂĂŶ ͗ WdWĞŵĞƌŝŶŐŬĂƚ ĨĞŬ/ŶĚŽŶĞƐŝĂ;W &/EKͿ
WĞŵĞƌŝŶŐŬĂƚ ƋƵŝƚLJdŽǁĞƌ>ƚ͘ϯϬ
^ƵĚŝƌŵĂŶĞŶƚƌĂůƵƐŝŶĞƐƐŝƐƚƌŝĐƚ͕>Žƚ͘ϵ
:ů͘:ĞŶĚ͘^ƵĚŝƌŵĂŶ<ĂǀϱϮͲϱϯ
:ĂŬĂƌƚĂϭϮϭϵϬ
WĞĚŽŵĂŶ<ĞƌũĂ ͗ <ŽĚĞ ĞƚŝŬ W &/EK ŵĞŶŐĂĐƵ ƉĂĚĂ ŽĚĞ ŽĨ ŽŶĚƵĐƚ
&ƵŶĚĂŵĞŶƚĂůƐĨŽƌƌĞĚŝƚZĂƚŝŶŐŐĞŶĐŝĞƐ;/W^WŽĚĞͿ
LJĂŶŐ ĚŝƚĞƌďŝƚŬĂŶ ŽůĞŚ /ŶƚĞƌŶĂƚŝŽŶĂů KƌŐĂŶŝnjĂƚŝŽŶ ŽĨ
^ĞĐƵƌŝƚŝĞƐ ŽŵŵŝƐƐŝŽŶƐ (“IOSCO”). ŶŐŐŽƚĂͲĂŶŐŐŽƚĂ
/K^K ĂĚĂůĂŚ ŽƚŽƌŝƚĂƐ WĂƐĂƌ DŽĚĂů ůĞďŝŚ ĚĂƌŝ ϭϬϬ
ŶĞŐĂƌĂ͘ <ŽĚĞ ĞƚŝŬ ĚĂŶ ƉƌĂŬƚĞŬ ƚĞƌďĂŝŬ ĚŝĂĚŽƉƐŝ ĚĂƌŝ
ƐƐŽĐŝĂƚŝŽŶ ŽĨ ƌĞĚŝƚ ZĂƚŝŶŐ ŐĞŶĐŝĞƐ ŝŶŝ ƐŝĂ
(“ACRAA”). ACRAA adalah asosiasi yang didirikan oleh
ƐŝĂŶ ĐƌĞĚŝƚ ƌĂƚŝŶŐ ĂŐĞŶĐŝĞƐ͕ ĚĂŶ ĚŝĂǁĂƐŝ ŽůĞŚ ƐŝĂŶ
ĞǀĞůŽƉŵĞŶƚĂŶŬ(“ADB”).
^ Dh > D' E WZK& ^/ W EhE:E' W^Z DK> h<E D ZhW<E W/,< d Z&/>/^/
E'E W Z^ ZKE ^ '/DE / &/E/^/<E >D hEE'ͲhEE' Z Wh>/< /EKE ^/
EK͘ϴd,hEϭϵϵϱdE''>ϭϬEKW D Zϭϵϵϱd EdE'W^ZDK>:Ž͘hEE'ͲhEE'EKDKZ
ϰd,hEϮϬϮϯd EdE'W E' DE'EEW E'hdE^ <dKZ< hE'E͘
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y///͘ ddZW D ^EEW D >/EK>/'^/
͘ WĞŵĞƐĂŶzĂŶŐĞƌŚĂŬ
WĞƌŽƌĂŶŐĂŶ tĂƌŐĂ EĞŐĂƌĂ /ŶĚŽŶĞƐŝĂ ĚĂŶ ƉĞƌŽƌĂŶŐĂŶ tĂƌŐĂ EĞŐĂƌĂ ƐŝŶŐ ĚŝŵĂŶĂƉƵŶ ŵĞƌĞŬĂ ďĞƌƚĞŵƉĂƚ
ƚŝŶŐŐĂů͕ ƐĞƌƚĂ ďĂĚĂŶ ƵƐĂŚĂ ĂƚĂƵ ůĞŵďĂŐĂ /ŶĚŽŶĞƐŝĂ ĂƚĂƵƉƵŶ ĂƐŝŶŐ ĚŝŵĂŶĂƉƵŶ ŵĞƌĞŬĂ ďĞƌŬĞĚƵĚƵŬĂŶ LJĂŶŐ
ďĞƌŚĂŬ ŵĞŵďĞůŝ KďůŝŐĂƐŝ ƐĞƐƵĂŝ ĚĞŶŐĂŶ ŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶ LJƵƌŝƐĚŝŬƐŝ ƐĞƚĞŵƉĂƚ ĚĞŶŐĂŶ ŵĞŵƉĞƌŚĂƚŝŬĂŶ
ƉĞƌĂƚƵƌĂŶƉĞƌƵŶĚĂŶŐͲƵŶĚĂŶŐĂŶĚŝďŝĚĂŶŐWĂƐĂƌDŽĚĂůLJĂŶŐďĞƌůĂŬƵ͘
͘ WĞŵĞƐĂŶĂŶWĞŵďĞůŝĂŶKďůŝŐĂƐŝ
WĞŵĞƐĂŶĂŶ ƉĞŵďĞůŝĂŶ KďůŝŐĂƐŝ ĚŝůĂŬƵŬĂŶ ĚĞŶŐĂŶ ŵĞŶŐŐƵŶĂŬĂŶ &ŽƌŵƵůŝƌ WĞŵĞƐĂŶĂŶ WĞŵďĞůŝĂŶ KďůŝŐĂƐŝ
;“FPPO”Ϳ ĂƐůŝ LJĂŶŐ ĚŝŬĞůƵĂƌŬĂŶ ŽůĞŚWĞŶũĂŵŝŶ WĞůĂŬƐĂŶĂ ŵŝƐŝ KďůŝŐĂƐŝ LJĂŶŐ ĚĂƉĂƚ ĚŝƚƵũƵŬĂŶ ŵĞůĂůƵŝ ĂůĂŵĂƚ
ĞŵĂŝůWĞŶũĂŵŝŶWĞůĂŬƐĂŶĂ ŵŝƐŝKďůŝŐĂƐŝLJĂŶŐƚĞƌĚĂƉĂƚƉĂĚĂĂďy/WƌŽƐƉĞŬƚƵƐŝŶŝ͘^ĞƚĞůĂŚ&WWKĚŝ ƚĂŶĚĂƚĂŶŐĂŶŝ
ŽůĞŚWĞŵĞƐĂŶ͕ ƐĐĂŶ&WWKƚĞƌƐĞďƵƚ ǁĂũŝď ĚŝƐĂŵƉĂŝŬĂŶ ŬĞŵďĂůŝ LJĂŶŐ ĚĂƉĂƚ ŵĞůĂůƵŝ ĞŵĂŝů ƚĞƌůĞďŝŚĚĂŚƵůƵ ĚĂŶ
ĂƐůŝŶLJĂ ĚŝŬŝƌŝŵŬĂŶ ŵĞůĂůƵŝ ũĂƐĂ ŬƵƌŝƌ ŬĞƉĂĚĂ WĞŶũĂŵŝŶ WĞůĂŬƐĂŶĂ ŵŝƐŝ KďůŝŐĂƐŝ͕ ĚĂŶ ƉĞŵĞƐĂŶĂŶ LJĂŶŐ ƚĞůĂŚ
ŵĞŵĞŶƵŚŝ ŬƌŝƚĞƌŝĂLJĂŶŐ ƚĞůĂŚ ĚŝĂũƵŬĂŶ ƚŝĚĂŬ ĚĂƉĂƚ ĚŝďĂƚĂůŬĂŶ ŽůĞŚƉĞŵĞƐĂŶ͘ WĞŵĞƐĂŶĂŶ ƉĞŵďĞůŝĂŶ KďůŝŐĂƐŝ
LJĂŶŐĚŝůĂŬƵŬĂŶŵĞŶLJŝŵƉĂŶŐ ĚĂƌŝŬĞƚĞŶƚƵĂŶͲŬĞƚĞŶƚƵĂŶƚĞƌƐĞďƵƚĚŝĂƚĂƐ ƚŝĚĂŬĚŝůĂLJĂŶŝ͘
͘ :ƵŵůĂŚDŝŶŝŵƵŵ WĞŵĞƐĂŶĂŶKďůŝŐĂƐŝ
WĞŵĞƐĂŶĂŶWĞŵďĞůŝĂŶKďůŝŐĂƐŝŚĂƌƵƐĚŝůĂŬƵŬĂŶĚĂůĂŵũƵŵůĂŚ ƐĞŬƵƌĂŶŐͲŬƵƌĂŶŐŶLJĂƐĞďĞƐĂƌZƉϱ͘ϬϬϬ͘ϬϬϬ͕Ͳ;ůŝŵĂ
ũƵƚĂZƵƉŝĂŚͿĂƚĂƵŬĞůŝƉĂƚĂŶŶLJĂ͘
͘ DĂƐĂ WĞŶĂǁĂƌĂŶ hŵƵŵKďůŝŐĂƐŝ
DĂƐĂ WĞŶĂǁĂƌĂŶ hŵƵŵ KďůŝŐĂƐŝ ĂŬĂŶ ĚŝŵƵůĂŝ ƉĂĚĂ ƚĂŶŐŐĂů ϯϬ:ƵŶŝ ϮϬϮϱƉƵŬƵůϬϵ͘ϬϬt/ĚĂŶ ĚŝƚƵƚƵƉ ƉĂĚĂ
ƉƵŬƵůϭϲ͘ϬϬt/͘
͘ WĞŶĚĂĨƚĂƌĂŶ KďůŝŐĂƐŝ ŬĞĚĂůĂŵ WĞŶŝƚŝƉĂŶ<ŽůĞŬƚŝĨ
KďůŝŐĂƐŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ ŽůĞŚ WĞƌƐĞƌŽĂŶ ŵĞůĂůƵŝ WĞŶĂǁĂƌĂŶ hŵƵŵ ŝŶŝ ĚŝĚĂĨƚĂƌŬĂŶ ƉĂĚĂ <^ / ďĞƌĚĂƐĂƌŬĂŶ
WĞƌũĂŶũŝĂŶ WĞŶĚĂĨƚĂƌĂŶ KďůŝŐĂƐŝ Ěŝ <^ / LJĂŶŐ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ĂŶƚĂƌĂ WĞƌƐĞƌŽĂŶ ĚĞŶŐĂŶ <^ /͘ ĞŶŐĂŶ
ĚŝĚĂĨƚĂƌŬĂŶŶLJĂ KďůŝŐĂƐŝƚĞƌƐĞďƵƚĚŝ<^ /ŵĂŬĂĂƚĂƐ KďůŝŐĂƐŝLJĂŶŐĚŝƚĂǁĂƌŬĂŶ ďĞƌůĂŬƵŬĞƚĞŶƚƵĂŶƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
ϭ͘ WĞƌƐĞƌŽĂŶ ƚŝĚĂŬ ŵĞŶĞƌďŝƚŬĂŶ KďůŝŐĂƐŝ ĚĂůĂŵ ďĞŶƚƵŬ ƐĞƌƚŝĨŝŬĂƚ ŬĞĐƵĂůŝ ^ĞƌƚŝĨŝŬĂƚ :ƵŵďŽ KďůŝŐĂƐŝ LJĂŶŐ
ĚŝƚĞƌďŝƚŬĂŶ ƵŶƚƵŬ ĚŝĚĂĨƚĂƌŬĂŶ ĂƚĂƐ ŶĂŵĂ <^ / ƵŶƚƵŬ ŬĞƉĞŶƚŝŶŐĂŶ WĞŵĞŐĂŶŐ KďůŝŐĂƐŝ͘ KďůŝŐĂƐŝ ĂŬĂŶ
ĚŝĚŝƐƚƌŝďƵƐŝŬĂŶ ĚĂůĂŵ ďĞŶƚƵŬĞůĞŬƚƌŽŶŝŬLJĂŶŐ ĚŝĂĚŵŝŶŝƐƚƌĂƐŝŬĂŶ ĚĂůĂŵ WĞŶŝƚŝƉĂŶ<ŽůĞŬƚŝĨ<^ /͘ ^ĞůĂŶũƵƚŶLJĂ͕
KďůŝŐĂƐŝŚĂƐŝůWĞŶĂǁĂƌĂŶhŵƵŵĂŬĂŶĚŝŬƌĞĚŝƚŬĂŶŬĞĚĂůĂŵZĞŬĞŶŝŶŐ ĨĞŬƐĞůĂŵďĂƚͲůĂŵďĂƚŶLJĂ ƉĂĚĂƚĂŶŐŐĂů
ϯ:ƵůŝϮϬϮϱ͘
Ϯ͘ <ŽŶĨŝƌŵĂƐŝ dĞƌƚƵůŝƐ ďĞƌĂƌƚŝ ŬŽŶĨŝƌŵĂƐŝ ƚĞƌƚƵůŝƐ ĚĂŶͬĂƚĂƵ ůĂƉŽƌĂŶ ƐĂůĚŽ KďůŝŐĂƐŝ ĚĂůĂŵ ZĞŬĞŶ ŝŶŐ ĨĞŬ LJĂŶŐ
ĚŝƚĞƌďŝƚŬĂŶ ŽůĞŚ<^ / ĂƚĂƵ WĞŵĞŐĂŶŐ ZĞŬĞŶŝŶŐ ďĞƌĚĂƐĂƌŬĂŶƉĞƌũĂŶũŝĂŶ ƉĞŵďƵŬĂĂŶ ZĞŬĞŶŝŶŐ ĨĞŬ ĚĞŶŐĂŶ
WĞŵĞŐĂŶŐKďůŝŐĂƐŝ͘
ϯ͘ WĞŶŐĂůŝŚĂŶŬĞƉĞŵŝůŝŬĂŶKďůŝŐĂƐŝĚŝůĂŬƵŬĂŶĚĞŶŐĂŶƉĞŵŝŶĚĂŚďƵŬƵĂŶĂŶƚĂƌZĞŬĞŶŝŶŐ ĨĞŬĚŝ<^ /͘WĞƌƵƐĂŚĂĂŶ
ĨĞŬĂƚĂƵ ĂŶŬ<ƵƐƚŽĚŝĂŶLJĂŶŐƐĞůĂŶũƵƚŶLJĂ ĂŬĂŶĚŝŬŽŶĨŝƌŵĂƐŝŬĂŶ ŬĞƉĂĚĂWĞŵĞŐĂŶŐZĞŬĞŶŝŶŐ͘
ϰ͘ WĞŵĞŐĂŶŐKďůŝŐĂƐŝ LJĂŶŐƚĞƌĐĂƚĂƚ ĚĂůĂŵ ZĞŬĞŶŝŶŐ ĨĞŬďĞƌŚĂŬĂƚĂƐ ƉĞŵďĂLJĂƌĂŶ ƵŶŐĂKďůŝŐĂƐŝ͘ ƉĞůƵŶĂƐĂŶ
WŽŬŽŬKďůŝŐĂƐŝŵĞŵďĞƌŝŬĂŶƐƵĂƌĂĚĂůĂŵ ZhWKƐĞƌƚĂŚĂŬͲŚĂŬůĂŝŶŶLJĂLJĂŶŐŵĞůĞŬĂƚƉĂĚĂKďůŝŐĂƐŝ͘
ϱ͘ WĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝ ĚĂŶ ƉĞůƵŶĂƐĂŶ WŽŬŽŬ KďůŝŐĂƐŝ ŬĞƉĂĚĂ ƉĞŵĞŐĂŶŐ KďůŝŐĂƐŝ ĚŝůĂŬƐĂŶĂŬĂŶ ŽůĞŚ
WĞƌƐĞƌŽĂŶŵĞůĂůƵŝ<^ /ƐĞďĂŐĂŝŐĞŶWĞŵďĂLJĂƌĂŶŵĞůĂůƵŝZĞŬĞŶŝŶŐ ĨĞŬĚŝ<^ /ƵŶƚƵŬƐĞůĂŶũƵƚŶLJĂĚŝƚĞƌƵƐŬĂŶ
ŬĞƉĂĚĂƉĞŵŝůŝŬŵĂŶĨĂĂƚ ;ďĞŶĞĨŝĐŝĂů ŽǁŶĞƌͿLJĂŶŐ ŵĞŶũĂĚŝƉĞŵĞŐĂŶŐZĞŬĞŶŝŶŐ ĨĞŬĚŝWĞƌƵƐĂŚĂĂŶ ĨĞŬĂƚĂƵ
ĂŶŬ<ƵƐƚŽĚŝĂŶƐĞƐƵĂŝĚĞŶŐĂŶũĂĚǁĂůƉĞŵďĂLJĂƌĂŶƵŶŐĂKďůŝŐĂƐŝŵĂƵƉƵŶƉĞůƵŶĂƐĂŶƉŽŬŽŬLJĂŶŐĚŝƚĞƚĂƉŬĂŶ
WĞƌƐĞƌŽĂŶĚĂůĂŵ WĞƌũĂŶũŝĂŶ WĞƌǁĂůŝĂŵĂŶĂƚĂŶ ĚĂŶ WĞƌũĂŶũŝĂŶ ŐĞŶWĞŵďĂLJĂƌĂŶ͘ WĞƌƐĞƌŽĂŶŵĞů ĂŬƐĂŶĂŬĂŶ
ƉĞŵďĂLJĂƌĂŶ ƵŶŐĂ KďůŝŐĂƐŝ ĚĂŶ ƉĞůƵŶĂƐĂŶ WŽŬŽŬ KďůŝŐĂƐŝ ďĞƌĚĂƐĂƌŬĂŶ ĚĂƚĂ ŬĞƉĞŵŝůŝŬĂŶ KďůŝŐĂƐŝ LJĂŶŐ
ĚŝƐĂŵƉĂŝŬĂŶ ŽůĞŚ<^ /ŬĞƉĂĚĂWĞƌƐĞƌŽĂŶ͘
ϲ͘ ,ĂŬƵŶƚƵŬ ŵĞŶŐŚĂĚŝƌŝZhWKĚŝůĂŬƐĂŶĂŬĂŶ ŽůĞŚƉĞŵŝůŝŬŵĂŶĨĂĂƚ KďůŝŐĂƐŝ ĂƚĂƵ ŬƵĂƐĂŶLJĂ ĚĞŶŐĂŶŵĞŵďĂǁĂ
ĂƐůŝ ƐƵƌĂƚ <ŽŶĨŝƌŵĂƐŝ dĞƌƚƵůŝƐ ƵŶƚƵŬ ZhWK LJĂŶŐ ĚŝƚĞƌďŝƚŬĂŶ ŽůĞŚ <^ / ĚĂŶ KďůŝŐĂƐŝ LJĂŶŐ ďĞƌƐĂŶŐŬƵƚĂŶ
ĚŝďĞŬƵŬĂŶƐĂŵƉĂŝ ĚĞŶŐĂŶďĞƌĂŬŚŝƌŶLJĂZhWK͘
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Page 165
PT INDOMOBIL FINANCE INDONESIA
ϳ͘ WŝŚĂŬͲƉŝŚĂŬ LJĂŶŐ ŚĞŶĚĂŬ ŵĞůĂŬƵŬĂŶ ƉĞŵĞƐĂŶĂŶ KďůŝŐĂƐŝ ǁĂũŝď ŵĞŶƵŶũƵŬ WĞƌƵƐĂŚĂĂŶ ĨĞŬ ĂƚĂƵ ĂŶŬ
<ƵƐƚŽĚŝĂŶ LJĂŶŐ ƚĞůĂŚ ŵĞŶũĂĚŝ ƉĞŵĞŐĂŶŐ ƌĞŬĞŶŝŶŐĚŝ <^ / ƵŶƚƵŬŵĞŶĞƌŝŵĂ ĚĂŶ ŵĞŶLJŝŵƉĂŶ KďůŝŐĂƐŝ LJĂŶŐ
ĚŝĚŝƐƚƌŝďƵƐŝŬĂŶŽůĞŚWĞƌƐĞƌŽĂŶ͘
&͘ dĞŵƉĂƚWĞŶŐĂũƵĂŶ WĞŵĞƐĂŶĂŶWĞŵďĞůŝĂŶKďůŝŐĂƐŝ
^ĞůĂŵĂ DĂƐĂ WĞŶĂǁĂƌĂŶ hŵƵŵ͕ ƉĞŵĞƐĂŶ ŚĂƌƵƐ ŵĞůĂŬƵŬĂŶ ƉĞŵĞƐĂŶĂŶ ƉĞŵďĞůŝĂŶ KďůŝŐĂƐŝ ĚĞŶŐĂŶ
ŵĞŶŐĂũƵŬĂŶ &WWKƐĞůĂŵĂ ũĂŵ ŬĞƌũĂLJĂŶŐ ƵŵƵŵ ďĞƌůĂŬƵ ŬĞƉĂĚĂ ƉĂƌĂ WĞŶũĂŵŝŶ ŵŝƐŝ KďůŝŐĂƐŝ͕ ƐĞďĂŐĂŝŵĂŶĂ
ĚŝŵƵĂƚ ĚĂůĂŵ Ăď y/ WƌŽƐƉĞŬƚƵƐ ŝŶŝ͕ ƉĂĚĂ ƚĞŵƉĂƚ ĚŝŵĂŶĂ WĞŵĞƐĂŶ ŵĞŵƉĞƌŽůĞŚ WƌŽƐƉĞŬƚƵƐ ĚĂŶ &WWK͘
WĞŵĞƐĂŶĂŶ KďůŝŐĂƐŝ ĚĂƉĂƚ ĚŝůĂŬƵŬĂŶ ƐĞĐĂƌĂĞůĞŬƚƌŽŶŝŬ ŵĞůĂůƵŝ ĂůĂŵĂƚ ĞŵĂŝů WĞŶũĂŵŝŶ ŵŝƐŝ KďůŝŐĂƐŝ ĚĞŶŐĂŶ
ƉƌŽƐĞĚƵƌƐĞďĂŐĂŝďĞƌŝŬƵƚ͗
Ă͘ ^ĞƚŝĂƉ ƉŝŚĂŬŚĂŶLJĂ ďĞƌŚĂŬŵĞŶŐĂũƵŬĂŶ ƐĂƚƵ &WWKĚĂŶǁĂũŝď ĚŝĂũƵŬĂŶ ŽůĞŚƉĞŵĞƐĂŶ LJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ ϭ
;ƐĂƚƵͿĂůĂŵĂƚ ĞŵĂŝůĚĂŶŚĂŶLJĂďŝƐĂŵĞůĂŬƵŬĂŶ ϭ;ƐĂƚƵͿ ŬĂůŝƉĞŵĞƐĂŶĂŶ͘
ď͘ DĞůĂŵƉŝƌŬĂŶĨŽƚŽŬŽƉŝũĂƚŝĚŝƌŝ;<dWͬƉĂƐƉŽƌďĂŐŝƉĞƌŽƌĂŶŐĂŶĚĂŶĂŶŐŐĂƌĂŶ ĚĂƐĂƌďĂŐŝďĂĚĂŶŚƵŬƵŵͿ͘
Đ͘ DĞŶLJĂŵƉĂŝŬĂŶ ƉĞŵĞƐĂŶĂŶ ĚŝƐĞƌƚĂŝ ĚĞƚĂŝů EŽŵŽƌ ZĞŬĞŶŝŶŐ ƵŶƚƵŬ WĞŶŐĞŵďĂůŝĂŶ <ĞůĞďŝŚĂŶ WĞŵĞƐĂŶĂŶ
;ZĞĨƵŶĚͿ ĚĞŶŐĂŶ ĨŽƌŵĂƚ͗ EĂŵĂ ĂŶŬф^W^/хEŽ ZĞŬĞŶŝŶŐф^W^/хEĂŵĂ WĞŵŝůŝŬ ZĞŬĞŶŝŶŐ͘ ŽŶƚŽŚ ͗
ϭϬϬϬϱϲϳϴϵϬƵĚŝ
WĞŵĞƐĂŶĂŬĂŶŵĞŶĚĂƉĂƚŬĂŶ ĞŵĂŝůďĂůĂƐĂŶ LJĂŶŐďĞƌŝƐŝŬĂŶ͗
Ă͘ ,ĂƐŝů ƐĐĂŶ &WWKĂƐůŝ LJĂŶŐ ƚĞůĂŚ ĚŝŝƐŝƐĞĐĂƌĂĞůĞŬƚƌŽŶŝŬƐĞƐƵĂŝ ĚĞŶŐĂŶ ƉĞŵĞƐĂŶĂŶ LJĂŶŐ ĚŝƐĂŵƉĂŝŬĂŶ ƵŶƚƵŬ
ĚŝĐĞƚĂŬĚĂŶĚŝƚĂŶĚĂƚĂŶŐĂŶŝ ŽůĞŚWĞŵĞƐĂŶLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͖ĂƚĂƵ
ď͘ /ŶĨŽƌŵĂƐŝƉĞŶŽůĂŬĂŶŬĂƌĞŶĂƉĞƌƐLJĂƌĂƚĂŶƚŝĚĂŬůĞŶŐŬĂƉĂƚĂƵĞŵĂŝůŐĂŶĚĂ͘
WĞŶũĂŵŝŶ ŵŝƐŝKďůŝŐĂƐŝĚĂŶWĞƌƐĞƌŽĂŶďĞƌŚĂŬƵŶƚƵŬŵĞŶŽůĂŬƉĞŵĞƐĂŶĂŶƉĞŵďĞůŝĂŶKďůŝŐĂƐŝĂƉĂďŝůĂ&WWKƚŝĚĂŬ
ĚŝŝƐŝ ĚĞŶŐĂŶ ůĞŶŐŬĂƉ ĂƚĂƵ ďŝůĂ ƉĞƌƐLJĂƌĂƚĂŶ ƉĞŵĞƐĂŶĂŶ ƉĞŵďĞůŝĂŶ KďůŝŐĂƐŝ ƚĞƌŵĂƐƵŬ ƉĞƌƐLJĂƌĂƚĂŶ ƉŝŚĂŬ LJĂŶŐ
ďĞƌŚĂŬ ŵĞůĂŬƵŬĂŶ ƉĞŵĞƐĂŶĂŶ͕ ƚŝĚĂŬ ƚĞƌƉĞŶƵŚŝ͘ ^ĞĚĂŶŐŬĂŶ ƉĞŵĞƐĂŶ͕ ƚŝĚĂŬ ĚĂƉĂƚ ŵĞŵďĂƚĂůŬĂŶ ƉĞŵďĞůŝĂŶ
KďůŝŐĂƐŝͲŶLJĂĂƉĂďŝůĂ ƚĞůĂŚŵĞŵĞŶƵŚŝƉĞƌƐLJĂƌĂƚĂŶƉĞŵĞƐĂŶĂŶƉĞŵďĞůŝĂŶ
'͘ ƵŬƚŝdĂŶĚĂ dĞƌŝŵĂWĞŵĞƐĂŶĂŶWĞŵďĞůŝĂŶKďůŝŐĂƐŝ
WĂƌĂWĞŶũĂŵŝŶ ŵŝƐŝ ĨĞŬLJĂŶŐŵĞŶĞƌŝŵĂƉĞŶŐĂũƵĂŶƉĞŵĞƐĂŶĂŶƉĞŵďĞůŝĂŶKďůŝŐĂƐŝĂŬĂŶŵĞŶLJĞƌĂŚŬĂŶŬĞŵďĂůŝ
ŬĞƉĂĚĂ ƉĞŵĞƐĂŶ ϭ ;ƐĂƚƵͿ ƚĞŵďƵƐĂŶ ĚĂƌŝ &WWK LJĂŶŐ ƚĞůĂŚ ĚŝƚĂŶĚĂƚĂŶŐĂŶŝŶLJĂ ƐĞďĂŐĂŝ ďƵŬƚŝ ƚĂŶĚĂ ƚĞƌŝŵĂ
ƉĞŵĞƐĂŶĂŶ ƉĞŵďĞůŝĂŶ KďůŝŐĂƐŝ͘ ƵŬƚŝ ƚĂŶĚĂ ƚĞƌŝŵĂ ƉĞŵĞƐĂŶĂŶ ƉĞŵďĞůŝĂŶ KďůŝŐĂƐŝ ŝŶŝ ďƵŬĂŶ ŵĞƌƵƉĂŬĂŶ
ũĂŵŝŶĂŶ ĚŝƉĞŶƵŚŝŶLJĂƉĞŵĞƐĂŶĂŶ͘
,͘ WĞŶũĂƚĂŚĂŶ KďůŝŐĂƐŝ
ƉĂďŝůĂ ũƵŵůĂŚ ŬĞƐĞůƵƌƵŚĂŶ KďůŝŐĂƐŝ LJĂŶŐ ĚŝƉĞƐĂŶ ŵĞůĞďŝŚŝ ũƵŵůĂŚ KďůŝŐĂƐŝ LJĂŶŐ ĚŝƚĂǁĂƌŬĂŶ͕ ŵĂŬĂ ĂŬĂŶ
ĚŝůĂŬƵŬĂŶƐĞƐƵĂŝĚĞŶŐĂŶWĞƌĂƚƵƌĂŶEŽ͘/y͘͘ϳ͘ dĂŶŐŐĂů ƉĞŶũĂƚĂŚĂŶĂŬĂŶĚŝůĂŬƵŬĂŶƉĂĚĂƚĂŶŐŐĂů ϭ:ƵůŝϮϬϮϱ͘
ĂůĂŵ ŚĂů ƚĞƌũĂĚŝ ŬĞůĞďŝŚĂŶƉĞŵĞƐĂŶĂŶ KďůŝŐĂƐŝ ĚĂŶ ƚĞƌďƵŬƚŝ ďĂŚǁĂ ƉŝŚĂŬƚĞƌƚĞŶƚƵ ŵĞŶŐĂũƵŬĂŶ ƉĞŵĞƐĂŶĂŶ
KďůŝŐĂƐŝŵĞůĂůƵŝ ůĞďŝŚĚĂƌŝƐĂƚƵ ĨŽƌŵƵůŝƌƉĞŵĞƐĂŶĂŶ ƵŶƚƵŬWĞŶĂǁĂƌĂŶhŵƵŵ ŝŶŝďĂŝŬƐĞĐĂƌĂůĂŶŐƐƵŶŐ ŵĂƵƉƵŶ
ƚŝĚĂŬůĂŶŐƐƵŶŐŵĂŬĂƵŶƚƵŬƚƵũƵĂŶƉĞŶũĂƚĂŚĂŶDĂŶĂũĞƌWĞŶũĂƚĂŚĂŶŚĂŶLJĂĚĂƉĂƚŵĞŶŐŝŬƵƚƐĞƌƚĂŬĂŶ ƐĂƚƵĨ ŽƌŵƵůŝƌ
ƉĞŵĞƐĂŶĂŶKďůŝŐĂƐŝLJĂŶŐƉĞƌƚĂŵĂŬĂůŝĚŝĂũƵŬĂŶ ŽůĞŚƉĞŵĞƐĂŶLJĂŶŐďĞƌƐĂŶŐŬƵƚĂŶ͘
WĞŶũĂŵŝŶWĞůĂŬƐĂŶĂ ŵŝƐŝ ĨĞŬĂŬĂŶŵĞŶLJĂŵƉĂŝŬĂŶ >ĂƉŽƌĂŶ,ĂƐŝůWĞŶĂǁĂƌĂŶhŵƵŵ ŬĞƉĂĚĂK:<ƉĂůŝŶŐůĂŵďĂƚ
ϱ;ůŝŵĂͿ,Ăƌŝ<ĞƌũĂƐĞƚĞůĂŚdĂŶŐŐĂů WĞŶũĂƚĂŚĂŶƐĞƐƵĂŝĚĞŶŐĂŶWĞƌĂƚƵƌĂŶEŽ͘/y͘͘Ϯ͘
DĂŶĂũĞƌ WĞŶũĂƚĂŚĂŶ ĚĂůĂŵ WĞŶĂǁĂƌĂŶ hŵƵŵ ŝŶŝ ĂĚĂůĂŚ Wd DĂŶĚŝƌŝ ^ĞŬƵƌŝƚĂƐ͕ ĂŬĂŶ ŵĞŶLJĂŵƉĂŝŬĂŶ >ĂƉŽƌĂŶ
,ĂƐŝůWĞŵĞƌŝŬƐĂĂŶŬƵŶƚĂŶŬĞƉĂĚĂK:<ŵĞŶŐĞŶĂŝŬĞǁĂũĂƌĂŶĚĂƌŝƉĞůĂŬƐĂŶĂĂŶ ƉĞŶũĂƚĂŚĂŶĚĞŶŐĂŶďĞƌƉĞĚŽŵĂŶ
ƉĂĚĂ WĞƌĂƚƵƌĂŶ ĂƉĞƉĂŵ EŽ͘s///͘'͘ϭϮ dĞŶƚĂŶŐ WĞĚŽŵĂŶ WĞŵĞƌŝŬƐĂĂŶ KůĞŚ ŬƵŶƚĂŶ ƚĂƐ WĞŵĞƐĂŶĂŶ ĚĂŶ
WĞŶũĂƚĂŚĂŶ ĨĞŬ ƚĂƵ WĞŵďĂŐŝĂŶ ^ĂŚĂŵ ŽŶƵƐ ĚĂŶ WĞƌĂƚƵƌĂŶ EŽ͘ /y͘͘ϳ ƉĂůŝŶŐ ůĂŵďĂƚ ϯϬ;ƚŝŐĂ ƉƵůƵŚͿ ŚĂƌŝ
ƐĞƚĞůĂŚďĞƌĂŬŚŝƌŶLJĂŵĂƐĂ WĞŶĂǁĂƌĂŶhŵƵŵ͘
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/͘ WĞŵďĂLJĂƌĂŶ WĞŵĞƐĂŶĂŶWĞŵďĞůŝĂŶKďůŝŐĂƐŝ
^ĞƚĞůĂŚŵĞŶĞƌŝŵĂƉĞŵďĞƌŝƚĂŚƵĂŶŚĂƐŝůƉĞŶũĂƚĂŚĂŶ KďůŝŐĂƐŝ͕WĞŵĞƐĂŶŚĂƌƵƐƐĞŐĞƌĂŵĞůĂŬƐĂŶĂŬĂŶ ƉĞŵďĂLJĂƌĂŶ
LJĂŶŐ ĚĂƉĂƚ ĚŝůĂŬƵŬĂŶ ƐĞĐĂƌĂ ƚƵŶĂŝ ĂƚĂƵ ƚƌĂŶƐĨĞƌ LJĂŶŐ ĚŝƚƵũƵŬĂŶ ŬĞƉĂĚĂ WĞŶũĂŵŝŶ ŵŝƐŝ KďůŝŐĂƐŝ ƚĞŵƉĂƚ
ŵĞŶŐĂũƵŬĂŶƉĞŵĞƐĂŶĂŶ͘^ĞůĂŝŶWĞŶũĂŵŝŶ ŵŝƐŝKďůŝŐĂƐŝLJĂŶŐďĞƌƚŝŶĚĂŬƐĞďĂŐĂŝWĞŶũĂŵŝŶWĞůĂŬƐĂŶĂ ŵŝƐŝ͕ĚĂŶĂ
ƚĞƌƐĞďƵƚŚĂƌƵƐƐƵĚĂŚŵĂƐƵŬĚĂůĂŵƌĞŬĞŶŝŶŐWĞŶũĂŵŝŶ ŵŝƐŝKďůŝŐĂƐŝƐĞůĂŵďĂƚͲůĂŵďĂƚŶLJĂ ƚĂŶŐŐĂů Ϯ:ƵůŝϮϬϮϱ;ŝŶ
ŐŽŽĚĨƵŶĚƐͿLJĂŶŐĚŝƚƵũƵŬĂŶƉĂĚĂƌĞŬĞŶŝŶŐĚŝďĂǁĂŚŝŶŝ͗
WdZ/ĂŶĂƌĞŬƐĂ ^ĞŬƵƌŝƚĂƐ Wd/DEŝĂŐĂ ^ĞŬƵƌŝƚĂƐ
ĂŶŬZĂŬLJĂƚ/ŶĚŽŶĞƐŝĂ ĂŶŬ/DEŝĂŐĂ
ĂďĂŶŐ͗ƵƌƐĂ ĨĞŬ:ĂŬĂƌƚĂ ĂďĂŶŐ͗'ƌĂŚĂ/DEŝĂŐĂ
EŽ͘ZĞŬĞŶŝŶŐ͗Ϭϲϳϭ͘Ϭϭ͘ϬϬϬϲϴϬ͘ϯϬ͘ϰ EŽ͘ZĞŬĞŶŝŶŐ͗ϴϬϬϭ͘ϲϯϰϰ͘ϮϲϬϬ
ƚĂƐEĂŵĂ͗WdZ/ĂŶĂƌĞŬƐĂ^ĞŬƵƌŝƚĂƐ ƚĂƐEĂŵĂ͗Wd/DEŝĂŐĂ ^ĞŬƵƌŝƚĂƐ
Wd^sŝĐŬĞƌƐ^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂ Wd/ŶĚŽWƌĞŵŝĞƌ^ĞŬƵƌŝƚĂƐ
ĂŶŬ^/ŶĚŽŶĞƐŝĂ ĂŶŬDĂŶĚŝƌŝ
ĂďĂŶŐ͗:ĂŬĂƌƚĂDĞŐĂ<ƵŶŝŶŐĂŶ ĂďĂŶŐ͗ƵƌƐĂ ĨĞŬ:ĂŬĂƌƚĂ
EŽ͘ZĞŬĞŶŝŶŐ͗ϯϯϮϬϭϯϮϱϳϮ EŽ͘ZĞŬĞŶŝŶŐ͗ϭϬϰϬϬϬϰϭϮϰϮϳϮ
ƚĂƐEĂŵĂ͗Wd^sŝĐŬĞƌƐ^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂ ƚĂƐEĂŵĂ͗Wd/ŶĚŽWƌĞŵŝĞƌ^ĞŬƵƌŝƚĂƐ
WdDĂŶĚŝƌŝ ^ĞŬƵƌŝƚĂƐ WdZ,^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂ
ĂŶŬDĂŶĚŝƌŝ ĂŶŬWĞƌŵĂƚĂ
ĂďĂŶŐ͗:ĂŬĂƌƚĂ^ƵĚŝƌŵĂŶ ĂďĂŶŐ͗^ƵĚŝƌŵĂŶ͕:ĂŬĂƌƚĂ
EŽ͘ZĞŬĞŶŝŶŐ͗ϭϬϮϬϬϬϱϱϲϲϬϮϴ EŽ͘ZĞŬĞŶŝŶŐ͗ϳϬϭϯϱϬϰϴϬ
ƚĂƐEĂŵĂ͗WdDĂŶĚŝƌŝ^ĞŬƵƌŝƚĂƐ ƚĂƐEĂŵĂ͗WdZ,^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂ
WddƌŝŵĞŐĂŚ^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂdďŬ
ĂŶŬĞŶƚƌĂůƐŝĂ
ĂďĂŶŐ͗<,DĂŶƐLJƵƌ
EŽ͘ZĞŬĞŶŝŶŐ͗ϭϳϵ͘ϯϬϯ͘ϬϳϬϳ
ƚĂƐEĂŵĂ͗WddƌŝŵĞŐĂŚ^ĞŬƵƌŝƚĂƐ/ŶĚŽŶĞƐŝĂdďŬ
^ĞŵƵĂ ďŝĂLJĂ LJĂŶŐ ďĞƌŬĂŝƚĂŶ ĚĞŶŐĂŶ ƉƌŽƐĞƐ ƉĞŵďĂLJĂƌĂŶ ŵĞƌƵƉĂŬĂŶ ďĞďĂŶ ƉĞŵĞƐĂŶ͘ WĞŵĞƐĂŶĂŶ ĂŬĂŶ
ĚŝďĂƚĂůŬĂŶ ũŝŬĂƉĞƌƐLJĂƌĂƚĂŶƉĞŵďĂLJĂƌĂŶ ƚŝĚĂŬĚŝƉĞŶƵŚŝ͘
^ĞůĂŶũƵƚŶLJĂ͕ ƉĂƌĂ WĞŶũĂŵŝŶ WĞůĂŬƐĂŶĂ ŵŝƐŝ KďůŝŐĂƐŝ ǁĂũŝď ŵĞůĂŬƵŬĂŶ ƉĞŵďĂLJĂƌĂŶ ŬĞƉĂĚĂ WĞƌƐĞƌŽĂŶƉĂĚĂ
ƚĂŶŐŐĂů ϯ:ƵůŝϮϬϮϱ͘
Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ
ĂŶŬĞŶƚƌĂůƐŝĂ
ĂďĂŶŐ<<DĞŶĂƌĂ
EŽ͘ZĞŬĞŶŝŶŐ͗ϬϯϱϯϭϲϲϲϬ
ƚĂƐŶĂŵĂ͗Wd/ŶĚŽŵŽďŝů&ŝŶĂŶĐĞ/ŶĚŽŶĞƐŝĂ
:͘ WĞŶŐĞŵďĂůŝĂŶ hĂŶŐWĞŵĞƐĂŶĂŶ
ĂůĂŵ ŚĂů ƐƵĂƚƵ ƉĞŵĞƐĂŶĂŶ ĨĞŬ ĚŝƚŽůĂŬ ƐĞďĂŐŝĂŶ ĂƚĂƵ ƐĞůƵƌƵŚŶLJĂĂƚĂƵ ƚĞƌũĂĚŝ ƉĞŶƵŶĚĂĂŶ ĂƚĂƵ ƉĞŵďĂƚĂůĂŶ
WĞŶĂǁĂƌĂŶ hŵƵŵ͕ ũŝŬĂ ƉĞƐĂŶĂŶ KďůŝŐĂƐŝ ƐƵĚĂŚ ĚŝďĂLJĂƌ͕ ŵĂŬĂ WĞŶũĂŵŝŶ WĞůĂŬƐĂŶĂ ŵŝƐŝ KďůŝŐĂƐŝͬWĞŶũĂŵŝŶ
ŵŝƐŝKďůŝŐĂƐŝǁĂũŝďŵĞŶŐĞŵďĂůŝŬĂŶ ƵĂŶŐƉĞŵĞƐĂŶĂŶŬĞƉĂĚĂƉĞŵĞƐĂŶƉĂůŝŶŐůĂŵďĂƚϮ;ĚƵĂͿ,Ăƌŝ<ĞƌũĂƐĞƐƵĚĂŚ
dĂŶŐŐĂů WĞŶũĂƚĂŚĂŶ ĂƚĂƵ ƐĞƐƵĚĂŚƚĂŶŐŐĂů ĚŝƵŵƵŵŬĂŶŶLJĂ ŬĞƉƵƚƵƐĂŶ ƉĞŵďĂƚĂůĂŶ WĞŶĂǁĂƌĂŶ hŵƵŵ ƚĞƌƐĞďƵƚ
ĚĂŶ ũŝŬĂ WĞƌƐĞƌŽĂŶƚĞůĂŚ ŵĞŶĞƌŝŵĂ ƵĂŶŐ ƉĞŵĞƐĂŶĂŶ͕ ŵĂŬĂ ǁĂũŝď ŵĞŶŐĞŵďĂůŝŬĂŶ ƵĂŶŐ ƉĞŵĞƐĂŶĂŶ ŬĞƉĂĚĂ
ƉĞŵĞƐĂŶ ƉĂůŝŶŐ ůĂŵďĂƚ Ϯ ;ĚƵĂͿ ,Ăƌŝ <ĞƌũĂ ƐĞũĂŬ ŬĞƉƵƚƵƐĂŶ ƉĞŶƵŶĚĂĂŶ ĂƚĂƵ ƉĞŵďĂƚĂůĂŶ WĞŶĂǁĂƌĂŶ hŵƵŵ
ƚĞƌƐĞďƵƚ͘
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:ŝŬĂ ƚĞƌũĂĚŝ ŬĞƚĞƌůĂŵďĂƚĂŶ͕ ŵĂŬĂ WĞŶũĂŵŝŶ WĞůĂŬƐĂŶĂ ŵŝƐŝ KďůŝŐĂƐŝͬWĞŶũĂŵŝŶ ŵŝƐŝ KďůŝŐĂƐŝ ĂƚĂƵ WĞƌƐĞƌŽĂŶ
LJĂŶŐ ŵĞŶLJĞďĂďŬĂŶ ƚĞƌũĂĚŝŶLJĂ ŬĞƚĞƌůĂŵďĂƚĂŶ ǁĂũŝď ŵĞŵďĂLJĂƌ ŬĞƉĂĚĂ ƉĂƌĂ ƉĞŵĞƐĂŶ ƵŶƚƵŬ ƚŝĂƉ ŚĂƌŝ
ŬĞƚĞƌůĂŵďĂƚĂŶ ĚĞŶĚĂƐĞďĞƐĂƌϭй;ƐĂƚƵƉĞƌƐĞŶͿƉĞƌƚĂŚƵŶĚŝĂƚĂƐƚŝŶŐŬĂƚ ƵŶŐĂKďůŝŐĂƐŝĚĂƌŝŵĂƐŝŶŐͲŵĂƐŝŶŐ ƐĞƌŝ
KďůŝŐĂƐŝ ƉĞƌƚĂŚƵŶĚŝŚŝƚƵŶŐ ƐĞĐĂƌĂŚĂƌŝĂŶ;ďĞƌĚĂƐĂƌŬĂŶũƵŵůĂŚ ,Ăƌŝ<ĂůĞŶĚĞƌLJĂŶŐƚĞůĂŚůĞǁĂƚ ƐĂŵƉĂŝ ĚĞŶŐĂŶ
ƉĞůĂŬƐĂŶĂĂŶƉĞŵďĂLJĂƌĂŶƐĞůƵƌƵŚũƵŵůĂŚLJĂŶŐƐĞŚĂƌƵƐŶLJĂĚŝďĂLJĂƌĚŝƚĂŵďĂŚ ĚĞŶĚĂͿ͕ĚĞŶŐĂŶŬĞƚĞŶƚƵĂŶ ϭ;ƐĂƚƵͿ
ƚĂŚƵŶĂĚĂůĂŚϯϲϬ;ƚŝŐĂƌĂƚƵƐĞŶĂŵƉƵůƵŚͿ,Ăƌŝ<ĂůĞŶĚĞƌĚĂŶϭ;ƐĂƚƵͿďƵůĂŶĂĚĂůĂŚϯϬ;ƚŝŐĂƉƵůƵŚͿ,Ăƌŝ<ĂůĞŶĚĞƌ͘
ĂƌĂ ƉĞŵďĂLJĂƌĂŶ ƵĂŶŐ ƉĞŶŐĞŵďĂůŝĂŶ ƉĞŵĞƐĂŶĂŶ KďůŝŐĂƐŝ ĚĂƉĂƚ ĚŝůĂŬƵŬĂŶ ƐĞĐĂƌĂ ƚƌĂŶƐĨĞƌ͘ ƉĂďŝůĂ ƵĂŶŐ
ƉĞŶŐĞŵďĂůŝĂŶ ƉĞŵĞƐĂŶĂŶ KďůŝŐĂƐŝƐƵĚĂŚ ĚŝƐĞĚŝĂŬĂŶ͕ ĂŬĂŶƚĞƚĂƉŝ ƉĞŵĞƐĂŶƚŝĚĂŬ ĚĂƚĂŶŐ ƵŶƚƵŬ ŵĞŶŐĂŵďŝůŶLJĂ
ĚĂůĂŵǁĂŬƚƵϮ;ĚƵĂͿ,Ăƌŝ<ĞƌũĂƐĞƚĞůĂŚdĂŶŐŐĂůWĞŶũĂƚĂŚĂŶ͕ŵĂŬĂWĞƌƐĞƌŽĂŶĚĂŶͬĂƚĂƵWĞŶũĂŵŝŶWĞůĂŬƐĂŶĂ ŵŝƐŝ
KďůŝŐĂƐŝƚŝĚĂŬĚŝǁĂũŝďŬĂŶ ŵĞŵďĂLJĂƌďƵŶŐĂĚĂŶͬĂƚĂƵ ĚĞŶĚĂŬĞƉĂĚĂƉĂƌĂƉĞŵĞƐĂŶKďůŝŐĂƐŝ͘
<͘ ŝƐƚƌŝďƵƐŝ KďůŝŐĂƐŝ ^ĞĐĂƌĂ ůĞŬƚƌŽŶŝŬ
ŝƐƚƌŝďƵƐŝ KďůŝŐĂƐŝ ƐĞĐĂƌĂ ĞůĞŬƚƌŽŶŝŬ ĂŬĂŶ ĚŝůĂŬƵŬĂŶ ƉĂĚĂ ƚĂŶŐŐĂů ϯ :Ƶůŝ ϮϬϮϱ͘WĞƌƐĞƌŽĂŶǁĂũŝď ŵĞŶĞƌďŝƚŬĂŶ
^ĞƌƚŝĨŝŬĂƚ :ƵŵďŽ KďůŝŐĂƐŝ ƵŶƚƵŬ ĚŝƐĞƌĂŚŬĂŶ ŬĞƉĂĚĂ <^ / ĚĂŶ ŵĞŵďĞƌŝ ŝŶƐƚƌƵŬƐŝ ŬĞƉĂĚĂ <^ / ƵŶƚƵŬ
ŵĞŶŐŬƌĞĚŝƚŬĂŶ KďůŝŐĂƐŝ ƉĂĚĂ ZĞŬĞŶŝŶŐ ĨĞŬ WĞŶũĂŵŝŶ WĞůĂŬƐĂŶĂ ŵŝƐŝ ĨĞŬ Ěŝ <^ /͘ ĞŶŐĂŶ ƚĞůĂŚ
ĚŝůĂŬƐĂŶĂŬĂŶŶLJĂ ŝŶƐƚƌƵŬƐŝ ƚĞƌƐĞďƵƚ ŵĂŬĂ ƉĞŶĚŝƐƚƌŝďƵƐŝĂŶ KďůŝŐĂƐŝ ƐĞŵĂƚĂͲŵĂƚĂ ŵĞŶũĂĚŝ ƚĂŶŐŐƵŶŐ ũĂǁĂď
WĞŶũĂŵŝŶWĞůĂŬƐĂŶĂ ŵŝƐŝ ĨĞŬ͘
^ĞůĂŶũƵƚŶLJĂ WĞŶũĂŵŝŶ WĞůĂŬƐĂŶĂ ŵŝƐŝ ĨĞŬ ŵĞŵďĞƌŝŝŶƐƚƌƵŬƐŝ ŬĞƉĂĚĂ<^ / ƵŶƚƵŬ ŵĞŵŝŶĚĂŚďƵŬƵŬĂŶ KďůŝŐĂƐŝ
ĚĂƌŝZĞŬĞŶŝŶŐ ĨĞŬWĞŶũĂŵŝŶ WĞůĂŬƐĂŶĂ ŵŝƐŝ ĨĞŬŬĞĚĂůĂŵ ZĞŬĞŶŝŶŐ ĨĞŬWĞŶũĂŵŝŶ ŵŝƐŝ ĨĞŬƐĞƐƵĂŝ ĚĞŶŐĂŶ
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Θ
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dĞůĞƉŽŶ͗;ϬϮϭͿϱϮϲϯϰϰϱ dĞůĞƉŽŶ͗;ϬϮϭͿϱϬϵϯϵϴϲϴ
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ĞŵĂŝů͗ĚŝǀŝƐŝͲĨŝΛŵĂŶĚŝƌŝƐĞŬƵƌŝƚĂƐ͘ĐŽ͘ŝĚ ĞŵĂŝů͗ƌŚďŽƐŬ͘ŝĚ͘ĨŝdžĞĚŝŶĐŽŵĞΛƌŚďŐƌŽƵƉ͘ĐŽŵ
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&Ădž͗;ϬϮϭͿϮϵϮϰϵϭϱϬ
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ys͘ W EWd^ '/,h<hD
ĞƌŝŬƵƚŝŶŝĂĚĂůĂŚƐĂůŝŶĂŶWĞŶĚĂƉĂƚĂƌŝ^ĞŐŝ,ƵŬƵŵŵĞŶŐĞŶĂŝƐĞŐĂůĂƐĞƐƵĂƚƵLJĂŶŐďĞƌŬĂŝƚĂŶĚĞŶŐĂŶWĞƌƐĞƌŽĂŶ͕
ĚĂůĂŵ ƌĂŶŐŬĂ WĞŶĂǁĂƌĂŶ hŵƵŵ KďůŝŐĂƐŝ ĞƌŬĞůĂŶũƵƚĂŶ s/ /ŶĚŽŵŽďŝů &ŝŶĂŶĐĞ ĞŶŐĂŶ dŝŶŐŬĂƚ ƵŶŐĂ dĞƚĂƉ
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ys/͘ >WKZE< hE'EW Z^ ZKE
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The original report included herein is in the Indonesian
language.
Laporan Auditor Independen Independent Auditor’s Report
Laporan No. 01289/2.1032/AU.1/09/1179- Report No. 01289/2.1032/AU.1/09/1179-
3/1/V/2025 3/1/V/2025
Pemegang Saham, Dewan Komisaris The Shareholders and the Boards of
dan Direksi Commissioners and Directors
PT Indomobil Finance Indonesia PT Indomobil Finance Indonesia
Opini Opinion
Kami telah mengaudit laporan keuangan We have audited the accompanying financial
PT Indomobil Finance Indonesia (“Perusahaan”) statements of PT Indomobil Finance Indonesia
terlampir, yang terdiri dari laporan posisi keuangan (the “Company”), which comprise the statement
tanggal 31 Desember 2024 dan 2023, serta of financial position as of December 31, 2024 and
laporan laba rugi dan penghasilan komprehensif 2023, and the statement of profit or loss and other
lain, laporan perubahan ekuitas, dan laporan arus comprehensive income, statement of changes in
kas untuk tahun yang berakhir pada tanggal- equity, and statement of cash flows for the years
tanggal tersebut, serta catatan atas laporan then ended, and notes to the financial statements,
keuangan, termasuk informasi kebijakan akuntansi including material accounting policy information.
material.
Menurut opini kami, laporan keuangan terlampir In our opinion, the accompanying financial
menyajikan secara wajar, dalam semua hal yang statements present fairly, in all material respects,
material, posisi keuangan Perusahaan tanggal the financial position of the Company as of
31 Desember 2024 dan 2023, serta kinerja December 31, 2024 and 2023, and its financial
keuangan dan arus kasnya untuk tahun yang performance and cash flows for the years then
berakhir pada tanggal-tanggal tersebut, sesuai ended, in accordance with Indonesian Financial
dengan Standar Akuntansi Keuangan di Indonesia. Accounting Standards.
Basis opini Basis for opinion
Kami melaksanakan audit kami berdasarkan We conducted our audit in accordance with
Standar Audit yang ditetapkan oleh Institut Standards on Auditing established by the
Akuntan Publik Indonesia (“IAPI”). Tanggung Indonesian Institute of Certified Public Accountants
jawab kami menurut standar tersebut diuraikan (“IICPA”). Our responsibilities under those
lebih lanjut dalam paragraf Tanggung Jawab standards are further described in the Auditor’s
Auditor terhadap Audit atas Laporan Keuangan Responsibilities for the Audit of the Financial
pada laporan kami. Kami independen terhadap Statements paragraph of our report. We are
Perusahaan berdasarkan ketentuan etika yang independent of the Company in accordance with
relevan dalam audit kami atas laporan keuangan di the ethical requirements relevant to our audit of
Indonesia, dan kami telah memenuhi tanggung the financial statements in Indonesia, and we have
jawab etika lainnya berdasarkan ketentuan fulfilled our other ethical responsibilities in
tersebut. Kami yakin bahwa bukti audit yang telah accordance with such requirements. We believe
kami peroleh adalah cukup dan tepat untuk that the audit evidence we have obtained is
menyediakan suatu basis bagi opini kami. sufficient and appropriate to provide a basis for our
opinion.
170i
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PT INDOMOBIL FINANCE INDONESIA
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 01289/2.1032/AU.1/09/1179- Report No. 01289/2.1032/AU.1/09/1179-
3/1/V/2025 (lanjutan) 3/1/V/2025 (continued)
Hal audit utama Key audit matter
Hal audit utama adalah hal-hal yang, menurut Key audit matters are those matters that, in our
pertimbangan profesional kami, merupakan hal professional judgment, were of most significance in
yang paling signifikan dalam audit kami atas our audit of the financial statements of the current
laporan keuangan periode kini. Hal audit utama period. Such key audit matters were addressed in
tersebut disampaikan dalam konteks audit kami the context of our audit of the financial statements
atas laporan keuangan secara keseluruhan, dan taken as a whole, and in forming our opinion
dalam merumuskan opini kami atas laporan thereon, and we do not provide a separate opinion
keuangan terkait, dan kami tidak menyatakan suatu on such key audit matters. For the key audit matter
opini terpisah atas hal audit utama tersebut. Untuk below, our description of how our audit addressed
hal audit utama di bawah ini, penjelasan kami such key audit matter is provided in such context.
tentang bagaimana audit kami merespons hal
tersebut disampaikan dalam konteks tersebut.
Kami telah memenuhi tanggung jawab yang We have fulfilled the responsibilities described in
diuraikan dalam paragraf Tanggung Jawab Auditor the Auditor’s Responsibilities for the Audit of the
terhadap Audit atas Laporan Keuangan pada Financial Statements paragraph of our report,
laporan kami, termasuk sehubungan dengan hal including in relation to the key audit matter
audit utama yang dikomunikasikan di bawah ini. communicated below. Accordingly, our audit
Oleh karena itu, audit kami mencakup pelaksanaan included the performance of procedures designed
prosedur yang didesain untuk merespons penilaian to respond to our assessment of the risks of
kami atas risiko kesalahan penyajian material material misstatement of the accompanying
dalam laporan keuangan terlampir. Hasil prosedur financial statements. The results of our audit
audit kami, termasuk prosedur yang dilakukan procedures, including the procedures performed to
untuk merespons hal audit utama di bawah ini, address the key audit matter below, provide the
menyediakan basis bagi opini kami atas laporan basis for our opinion on the accompanying financial
keuangan terlampir. statements.
171
ii
Page 192
PT INDOMOBIL FINANCE INDONESIA
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 01289/2.1032/AU.1/09/1179- Report No. 01289/2.1032/AU.1/09/1179-
3/1/V/2025 (lanjutan) 3/1/V/2025 (continued)
Hal audit utama (lanjutan) Key audit matter (continued)
Cadangan kerugian penurunan nilai atas piutang Allowance for impairment losses on consumer
pembiayaan konsumen dan piutang sewa financing and finance lease receivables
pembiayaan
Penjelasan atas hal audit utama: Description of the key audit matter:
Seperti yang dijelaskan dalam Catatan 4 dan 5 atas As described in Notes 4 and 5 to the accompanying
laporan keuangan terlampir, pada tanggal financial statements, as of December 31, 2024,
31 Desember 2024, saldo cadangan kerugian the balances of allowance for impairment losses on
penurunan nilai atas piutang pembiayaan consumer financing receivables and finance lease
konsumen dan piutang sewa pembiayaan masing- receivables were Rp439,655 million and
masing adalah sebesar Rp439.655 juta dan Rp304,329 million, respectively. Refer to
Rp304.329 juta. Mengacu kepada ikhtisar summary of significant accounting policies of
kebijakan akuntansi signifikan untuk cadangan allowance for impairment losses in Note 2h, use of
kerugian penurunan nilai atas piutang sewa significant accounting estimates and assumptions
pembiayaan dan piutang pembiayaan konsumen in Note 2s, and the disclosures of allowance for
diungkapkan dalam Catatan 2h, penggunaan impairment losses on consumer financing
estimasi dan asumsi yang signifikan pada Catatan receivables and finance lease receivables in Notes
2s, dan pengungkapan cadangan kerugian 4 and 5 to the accompanying financial statements.
penurunan nilai atas piutang pembiayaan We focused on this area because the amount of
konsumen dan piutang sewa pembiayaan pada allowance for impairment losses on finance lease
Catatan 4 dan 5 pada laporan keuangan terlampir. receivables and consumer financing receivables
Kami fokus pada area ini karena nilai cadangan are significant to the accompanying financial
kerugian penurunan nilai atas piutang sewa statements.
pembiayaan dan piutang pembiayaan konsumen
signifikan terhadap laporan keuangan terlampir.
Penentuan cadangan kerugian penurunan nilai atas Determination of the allowance for impairment loss
piutang pembiayaan konsumen dan piutang sewa on consumer financing and finance lease
pembiayaan signifikan dalam audit kami karena receivables is significant to our audit as it involves
melibatkan penerapan pertimbangan yang the exercise of significant management judgement.
signifikan oleh manajemen. Penentuan cadangan Determination of allowance for impairment losses
kerugian penurunan nilai dipengaruhi oleh is subject to estimation uncertainty which includes
ketidakpastian estimasi termasuk dalam penentuan determining the model to calculate allowance for
model untuk menghitung cadangan kerugian impairment losses, including the process of aging
penurunan nilai, yang mencakup proses penentuan classification, identification of credit exposures
klasifikasi umur piutang, identifikasi eksposur with significant deterioration in credit quality and
kredit yang mengalami penurunan kualitas kredit assumptions used in the allowance for impairment
yang signifikan dan penentuan asumsi yang losses calculation model (for exposures assessed
digunakan dalam model perhitungan cadangan on an individual or collective basis), including
kerugian penurunan nilai (untuk eksposur yang forward-looking macroeconomic factors.
dinilai secara individu atau kolektif), termasuk
faktor ekonomi makro masa depan.
172
iii
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PT INDOMOBIL FINANCE INDONESIA
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 01289/2.1032/AU.1/09/1179- Report No. 01289/2.1032/AU.1/09/1179-
3/1/V/2025 (lanjutan) 3/1/V/2025 (continued)
Hal audit utama (lanjutan) Key audit matter (continued)
Cadangan kerugian penurunan nilai atas piutang Allowance for impairment losses on consumer
pembiayaan konsumen dan piutang sewa financing and finance lease receivables (continued)
pembiayaan (lanjutan)
Respons audit: Audit response:
Kami mengajukan pertanyaan dan memeroleh We inquired and obtained understanding from the
pemahaman dari manajemen atas metodologi management regarding impairment measurement
pengukuran penurunan nilai, model cadangan methodologies, allowance for impairment loss
kerugian penurunan nilai, serta data masukan, models, and inputs, bases and assumptions used by
dasar dan asumsi yang digunakan oleh Perusahaan the Company in calculating the allowance for
dalam menghitung cadangan kerugian penurunan impairment losses. We tested the classification into
nilai. Kami menguji klasifikasi terhadap tiga three-stage credit quality of loan portfolios in
tahapan kualitas kredit portofolio pinjaman sesuai accordance with staging criteria developed by the
dengan kriteria tingkatan (staging) yang disusun Company for consumer financing and finance lease
oleh Perusahaan untuk piutang pembiayaan receivables.
konsumen dan piutang sewa pembiayaan.
Kami menguji pengendalian utama atas pemberian, We tested whether historical experience is
pencatatan dan pengawasan piutang pembiayaan representative of current circumstances and of the
konsumen dan piutang sewa pembiayaan. Kami recent losses incurred in the portfolios, and
menguji apakah pengalaman historis mewakili assessed reasonableness of forward-looking
keadaan saat ini dan kerugian terkini yang terjadi adjustments, macroeconomic factor analysis, and
dalam portofolio, serta menilai kewajaran atas probability-weighted multiple scenarios. We tested
penyesuaian perkiraan masa depan, analisis faktor the aging classification data in accordance with
ekonomi makro, dan beberapa skenario criteria developed by the Company. We checked
probabilitas tertimbang. Kami menguji data the accuracy of the calculation of the allowance for
klasifikasi umur piutang sesuai dengan kriteria impairment losses amount, by recalculating the
yang disusun oleh Perusahaan. Kami memeriksa collective impairment assessment for the entire
akurasi perhitungan jumlah cadangan kerugian portfolio and recalculating the individual
penurunan nilai, dengan melakukan perhitungan impairment assessment on a sample basis. We
ulang atas keseluruhan portofolio yang penurunan involved our auditor’s expert to assist us in the
nilainya dinilai secara kolektif dan melakukan performance of the above procedures where their
perhitungan ulang atas penurunan nilai yang dinilai specific expertise was required. We also assessed
secara individual berdasarkan sampel. Kami whether the financial statement disclosures are
melibatkan pakar auditor kami untuk membantu adequately and appropriately reflecting the
kami dalam melakukan prosedur-prosedur di atas Company’s exposures to credit risk.
ketika keahlian spesifik mereka diperlukan. Kami
juga menilai apakah pengungkapan laporan
keuangan secara memadai dan tepat
mencerminkan eksposur Perusahaan terhadap
risiko kredit.
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PT INDOMOBIL FINANCE INDONESIA
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 01289/2.1032/AU.1/09/1179- Report No. 01289/2.1032/AU.1/09/1179-
3/1/V/2025 (lanjutan) 3/1/V/2025 (continued)
Hal-hal lain Other matters
Laporan ini diterbitkan dengan tujuan hanya untuk This report has been prepared solely for inclusion
dicantumkan dalam dokumen penawaran in the offering document in connection with the
sehubungan dengan rencana penawaran umum proposed offering of the debt securities of the
efek utang Perusahaan di Indonesia berdasarkan Company in Indonesia in reliance on rules and
peraturan dan ketentuan Otoritas Jasa Keuangan regulations of the Indonesia Financial Services
(“Penawaran Umum”), serta tidak ditujukan, dan Authority (the “Public Offering”), and is not
tidak diperkenankan untuk digunakan untuk tujuan intended to, and should not be, used for any other
lain. purposes.
Kami sebelumnya telah menerbitkan We have previously issued
laporan auditor independen independent auditor's report
No. 00584/2.1032/AU.1/09/1179-3/1/IV/2025 No. 00584/2.1032/AU.1/09/1179-3/1/IV/2025
bertanggal 14 April 2025 atas laporan keuangan dated April 14, 2025 on the financial statements of
Perusahaan pada tanggal 31 Desember 2024 dan the Company as of December 31, 2024 and 2023
2023 serta untuk tahun yang berakhir pada and for the years then ended, prior to the
tanggal-tanggal tersebut, sebelum penerbitan reissuance of such financial statements with
kembali laporan keuangan tersebut dengan certain additional disclosures in connection with
pengungkapan tambahan tertentu sehubungan the proposed Public Offering.
dengan rencana Penawaran Umum.
Tanggung jawab manajemen dan pihak yang Responsibilities of management and those charged
bertanggung jawab atas tata kelola terhadap with governance for the financial statements
laporan keuangan
Manajemen bertanggung jawab atas penyusunan Management is responsible for the preparation and
dan penyajian wajar laporan keuangan tersebut fair presentation of the financial statements in
sesuai dengan Standar Akuntansi Keuangan di accordance with Indonesian Financial Accounting
Indonesia, dan atas pengendalian internal yang Standards, and for such internal control as
dianggap perlu oleh manajemen untuk management determines is necessary to enable the
memungkinkan penyusunan laporan keuangan preparation of financial statements that are free
yang bebas dari kesalahan penyajian material, baik from material misstatement, whether due to fraud
yang disebabkan oleh kecurangan maupun or error.
kesalahan.
Dalam penyusunan laporan keuangan, manajemen In preparing the financial statements, management
bertanggung jawab untuk menilai kemampuan is responsible for assessing the Company’s ability to
Perusahaan dalam mempertahankan kelangsungan continue as a going concern, disclosing, as
usahanya, mengungkapkan, sesuai dengan applicable, matters related to going concern, and
kondisinya, hal-hal yang berkaitan dengan using the going concern basis of accounting, unless
kelangsungan usaha, dan menggunakan basis management either intends to liquidate the
akuntansi kelangsungan usaha, kecuali manajemen Company or to cease its operations or has no
memiliki intensi untuk melikuidasi Perusahaan atau realistic alternative but to do so.
menghentikan operasi, atau tidak memiliki
alternatif yang realistis selain melaksanakannya.
Pihak yang bertanggung jawab atas tata kelola Those charged with governance are responsible for
bertanggung jawab untuk mengawasi proses overseeing the Company’s financial reporting
pelaporan keuangan Perusahaan. process.
174
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PT INDOMOBIL FINANCE INDONESIA
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 01289/2.1032/AU.1/09/1179- Report No. 01289/2.1032/AU.1/09/1179-
3/1/V/2025 (lanjutan) 3/1/V/2025 (continued)
Tanggung jawab auditor terhadap audit atas Auditor’s responsibilities for the audit of the
laporan keuangan financial statements
Tujuan kami adalah untuk memeroleh keyakinan Our objectives are to obtain reasonable assurance
memadai tentang apakah laporan keuangan secara about whether the financial statements taken as a
keseluruhan bebas dari kesalahan penyajian whole are free from material misstatement, whether
material, baik yang disebabkan oleh kecurangan due to fraud or error, and to issue an independent
maupun kesalahan, dan untuk menerbitkan laporan auditor’s report that includes our opinion.
auditor independen yang mencakup opini kami. Reasonable assurance is a high level of assurance,
Keyakinan memadai merupakan suatu tingkat but is not a guarantee that an audit conducted in
keyakinan tinggi, namun bukan merupakan suatu accordance with Standards on Auditing established
jaminan bahwa audit yang dilaksanakan by the IICPA will always detect a material
berdasarkan Standar Audit yang ditetapkan oleh misstatement when it exists.
IAPI akan selalu mendeteksi kesalahan penyajian
material ketika hal tersebut ada.
Kesalahan penyajian dapat disebabkan oleh Misstatements can arise from fraud or error and
kecurangan maupun kesalahan dan dianggap are considered material if, individually or in the
material jika, baik secara individual maupun aggregate, they could reasonably be expected to
agregat, dapat diekspektasikan secara wajar akan influence the economic decisions of users taken on
memengaruhi keputusan ekonomi yang diambil the basis of these financial statements.
oleh pengguna berdasarkan laporan keuangan
tersebut.
Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, kami Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga:
Mengidentifikasi dan menilai risiko kesalahan Identify and assess the risks of material
penyajian material dalam laporan keuangan, misstatement of the financial statements,
baik yang disebabkan oleh kecurangan whether due to fraud or error, design and
maupun kesalahan, mendesain dan perform audit procedures responsive to such
melaksanakan prosedur audit yang responsif risks, and obtain audit evidence that is
terhadap risiko tersebut, serta memeroleh sufficient and appropriate to provide a basis for
bukti audit yang cukup dan tepat untuk our opinion. The risk of not detecting a
menyediakan basis bagi opini kami. Risiko material misstatement resulting from fraud is
tidak terdeteksinya suatu kesalahan penyajian higher than for one resulting from error, as
material yang disebabkan oleh kecurangan fraud may involve collusion, forgery,
lebih tinggi dari yang disebabkan oleh intentional omissions, misrepresentations, or
kesalahan, karena kecurangan dapat override of internal control.
melibatkan kolusi, pemalsuan, penghilangan
secara sengaja, pernyataan salah, atau
pengabaian atas pengendalian internal.
175
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PT INDOMOBIL FINANCE INDONESIA
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 01289/2.1032/AU.1/09/1179- Report No. 01289/2.1032/AU.1/09/1179-
3/1/V/2025 (lanjutan) 3/1/V/2025 (continued)
Tanggung jawab auditor terhadap audit atas Auditor’s responsibilities for the audit of the
laporan keuangan (lanjutan) financial statements (continued)
Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, kami Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga: (lanjutan) (continued)
Memeroleh suatu pemahaman tentang Obtain an understanding of internal control
pengendalian internal yang relevan dengan relevant to the audit in order to design audit
audit untuk mendesain prosedur audit yang procedures that are appropriate in the
tepat sesuai dengan kondisinya, tetapi bukan circumstances, but not for the purpose of
untuk tujuan menyatakan opini atas expressing an opinion on the effectiveness of
keefektivitasan pengendalian internal the Company’s internal control.
Perusahaan.
Mengevaluasi ketepatan kebijakan akuntansi Evaluate the appropriateness of accounting
yang digunakan serta kewajaran estimasi policies used and the reasonableness of
akuntansi dan pengungkapan terkait yang accounting estimates and related disclosures
dibuat oleh manajemen. made by management.
Menyimpulkan ketepatan penggunaan basis Conclude on the appropriateness of
akuntansi kelangsungan usaha oleh management's use of the going concern basis
manajemen dan, berdasarkan bukti audit yang of accounting and, based on the audit evidence
diperoleh, apakah terdapat suatu obtained, whether a material uncertainty
ketidakpastian material yang terkait dengan exists related to events or conditions that may
peristiwa atau kondisi yang dapat cast significant doubt on the Company's ability
menyebabkan keraguan signifikan atas to continue as a going concern. If we conclude
kemampuan Perusahaan untuk that a material uncertainty exists, we are
mempertahankan kelangsungan usahanya. required to draw attention in our independent
Ketika kami menyimpulkan bahwa terdapat auditor’s report to the related disclosures in
suatu ketidakpastian material, kami the financial statements or, if such disclosures
diharuskan untuk menarik perhatian dalam are inadequate, to modify our opinion. Our
laporan auditor independen kami ke conclusion is based on the audit evidence
pengungkapan terkait dalam laporan keuangan obtained up to the date of our independent
atau, jika pengungkapan tersebut tidak auditor’s report. However, future events or
memadai, memodifikasi opini kami. conditions may cause the Company to cease to
Kesimpulan kami didasarkan pada bukti audit continue as a going concern.
yang diperoleh hingga tanggal laporan auditor
independen kami. Namun, peristiwa atau
kondisi masa depan dapat menyebabkan
Perusahaan tidak dapat mempertahankan
kelangsungan usaha.
176
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PT INDOMOBIL FINANCE INDONESIA
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjutan) Independent Auditor’s Report (continued)
Laporan No. 01289/2.1032/AU.1/09/1179- Report No. 01289/2.1032/AU.1/09/1179-
3/1/V/2025 (lanjutan) 3/1/V/2025 (continued)
Tanggung jawab auditor terhadap audit atas Auditor’s responsibilities for the audit of the
laporan keuangan (lanjutan) financial statements (continued)
Sebagai bagian dari suatu audit berdasarkan As part of an audit in accordance with Standards on
Standar Audit yang ditetapkan oleh IAPI, kami Auditing established by the IICPA, we exercise
menerapkan pertimbangan profesional dan professional judgment and maintain professional
mempertahankan skeptisisme profesional selama skepticism throughout the audit. We also:
audit. Kami juga: (lanjutan) (continued)
Mengevaluasi penyajian, struktur, dan isi Evaluate the overall presentation, structure,
laporan keuangan secara keseluruhan, and content of the financial statements,
termasuk pengungkapannya, dan apakah including the disclosures, and whether the
laporan keuangan mencerminkan transaksi financial statements represent the underlying
dan peristiwa yang mendasarinya dengan transactions and events in a manner that
suatu cara yang mencapai penyajian wajar. achieves fair presentation.
Kami mengomunikasikan kepada pihak yang We communicate with those charged with
bertanggung jawab atas tata kelola mengenai, governance regarding, among other matters, the
antara lain, ruang lingkup dan saat yang planned scope and timing of the audit and
direncanakan atas audit serta temuan audit significant audit findings, including any significant
signifikan, termasuk setiap defisiensi signifikan deficiencies in internal control that we identify
dalam pengendalian internal yang teridentifikasi during our audit.
oleh kami selama audit.
Kami juga memberikan suatu pernyataan kepada We also provide those charged with governance
pihak yang bertanggung jawab atas tata kelola with a statement that we have complied with
bahwa kami telah mematuhi ketentuan etika yang relevant ethical requirements regarding
relevan mengenai independensi, dan independence, and to communicate with them all
mengomunikasikan kepada pihak tersebut seluruh relationships and other matters that may
hubungan, serta hal-hal lain yang dianggap secara reasonably be thought to bear on our
wajar berpengaruh terhadap independensi kami, independence, and where applicable, related
dan, jika relevan, pengamanan terkait. safeguards.
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PT INDOMOBIL FINANCE INDONESIA
178
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PT INDOMOBIL FINANCE INDONESIA
The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
LAPORAN POSISI KEUANGAN STATEMENT OF FINANCIAL POSITION
Tanggal 31 Desember 2024 dan 2023 As of December 31, 2024 and 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
31 Desember 2024/ Catatan/ 31 Desember 2023/
December 31, 2024 Notes December 31, 2023
ASET ASSETS
2b,2d,2n,
KAS DAN SETARA KAS 3,32 CASH AND CASH EQUIVALENTS
Kas 17.314 25.913 Cash on hand
Bank - pihak ketiga 522.449 582.222 Cash in banks - third parties
Deposito berjangka - pihak ketiga 1.119.394 480.000 Time deposits - third parties
Total kas dan setara kas 1.659.157 1.088.135 Total cash and cash equivalents
Cadangan kerugian penurunan nilai Allowance for impairment losses on
kas dan setara kas (299) (272) cash and cash equivalent
Kas dan setara kas - Neto 1.658.858 1.087.863 Cash and cash equivalents - Net
PIUTANG PEMBIAYAAN 2d,2e, CONSUMER FINANCING
KONSUMEN 4,11,15,27 RECEIVABLES
Pihak ketiga Third parties
Piutang pembiayaan konsumen 10.153.782 7.552.944 Consumer financing receivables
Pendapatan pembiayaan Unearned consumer financing
konsumen yang belum diakui (1.853.355) (1.408.812) income
Piutang pembiayaan konsumen - Consumer financing receivables -
pihak ketiga 8.300.427 6.144.132 third parties
Pihak berelasi 2c Related parties
Piutang pembiayaan konsumen 13.853 28a 13.001 Consumer financing receivables
Pendapatan pembiayaan Unearned consumer financing
konsumen yang belum diakui (894) (1.141) income
Piutang pembiayaan konsumen - Consumer financing receivables -
pihak berelasi 12.959 11.860 related parties
Total piutang pembiayaan Total consumer financing
konsumen 8.313.386 6.155.992 receivables
Cadangan kerugian penurunan nilai Allowance for impairment losses on
piutang pembiayaan konsumen (439.655) (336.122) consumer financing receivables
Piutang pembiayaan konsumen - Consumer financing receivables -
Neto 7.873.731 5.819.870 Net
2d,2f,2n,5,
PIUTANG SEWA PEMBIAYAAN 11,15,27,32 FINANCE LEASE RECEIVABLES
Pihak ketiga Third parties
Piutang sewa pembiayaan 7.300.721 9.601.286 Finance lease receivables
Nilai residu yang dijamin 8.823.261 13.566.852 Guaranteed residual value
Pendapatan sewa pembiayaan Unearned finance lease
yang belum diakui (819.296) (1.228.850) income
Simpanan jaminan (8.823.261) (13.566.852) Security deposits
Piutang sewa pembiayaan - Finance lease receivables -
pihak ketiga 6.481.425 8.372.436 third parties
Pihak berelasi 2c Related parties
Piutang sewa pembiayaan 199.172 28a 484.817 Finance lease receivables
Nilai residu yang dijamin 89.144 138.659 Guaranteed residual value
Pendapatan sewa pembiayaan Unearned finance lease
yang belum diakui (4.105) (22.714) income
Simpanan jaminan (89.144) (138.659) Security deposits
Piutang sewa pembiayaan - Finance lease receivables -
pihak berelasi 195.067 462.103 related parties
Total piutang sewa pembiayaan 6.676.492 8.834.539 Total finance lease receivables
Cadangan kerugian penurunan nilai Allowance for impairment losses on
piutang sewa pembiayaan (304.329) (414.773) finance lease receivables
Piutang sewa pembiayaan - Neto 6.372.163 8.419.766 Finance lease receivables - Net
Catatan atas laporan keuangan terlampir merupakan bagian integral The accompanying notes to the financial statements form an integral
dari laporan keuangan. part of these financial statements.
1
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PT INDOMOBIL FINANCE INDONESIA
The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
LAPORAN POSISI KEUANGAN (lanjutan) STATEMENT OF FINANCIAL POSITION (continued)
Tanggal 31 Desember 2024 dan 2023 As of December 31, 2024 and 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
31 Desember 2024/ Catatan/ 31 Desember 2023/
December 31, 2024 Notes December 31, 2023
ASET (LANJUTAN) ASSETS (CONTINUED)
TAGIHAN ANJAK PIUTANG 2d,2g,6 FACTORING RECEIVABLES
Pihak ketiga Third parties
Tagihan anjak piutang 51.857 4.590 Factoring receivables
Pendapatan anjak piutang Unearned factoring
yang belum diakui (626) (516) income
Total tagihan anjak piutang 51.231 4.074 Total factoring receivables
Cadangan kerugian penurunan nilai Allowance for impairment losses on
tagihan anjak piutang (1) (9) factoring receivables
Tagihan anjak piutang - Neto 51.230 4.065 Factoring receivables - Net
BIAYA DIBAYAR DI MUKA 5.922 2i,7a 5.128 PREPAID EXPENSES
UANG MUKA 2.960 7b 3.484 ADVANCES
PIUTANG LAIN-LAIN - OTHER RECEIVABLES -
pihak ketiga 80.705 2d,2k,8 73.317 third parties
TAGIHAN PAJAK 34.505 2o,13 6.928 CLAIMS FOR TAX REFUND
PIUTANG DERIVATIF 243.882 2d,16 198.938 DERIVATIVE RECEIVABLES
ASET PAJAK TANGGUHAN - DEFERRED TAX ASSETS -
Neto 20.964 2o,13 6.930 Net
ASET TETAP 2j,9, FIXED ASSETS
Biaya perolehan 719.347 22,28e 669.313 Acquisition cost
Akumulasi penyusutan (337.164) (297.627) Accumulated depreciation
Nilai Tercatat Neto 382.183 371.686 Net Book Value
ASET LAIN-LAIN 4.356 2d,10 75.506 OTHER ASSETS
TOTAL ASET 16.731.459 16.073.481 TOTAL ASSETS
Catatan atas laporan keuangan terlampir merupakan bagian integral The accompanying notes to the financial statements form an integral
dari laporan keuangan. part of these financial statements.
2
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PT INDOMOBIL FINANCE INDONESIA
The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
LAPORAN POSISI KEUANGAN (lanjutan) STATEMENT OF FINANCIAL POSITION (continued)
Tanggal 31 Desember 2024 dan 2023 As of December 31, 2024 and 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
31 Desember 2024/ Catatan/ 31 Desember 2023/
December 31, 2024 Notes December 31, 2023
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
LIABILITAS LIABILITIES
UTANG BANK - Neto 2d,2n,3, BANK LOANS - Net
pihak ketiga 9.207.275 5,11,32 10.701.320 third parties
2d,2n,
BEBAN AKRUAL 108.367 12,15 161.534 ACCRUED EXPENSES
UTANG PAJAK 6.568 2o,13 36.920 TAXES PAYABLE
2d,2e,2f
UTANG LAIN-LAIN 14,27 OTHER PAYABLES
Pihak ketiga 211.460 163.847 Third parties
Pihak berelasi 5.762 2c 6.486 Related party
28f,28d
Total utang lain-lain 217.222 170.333 Total other payables
LIABILITAS IMBALAN EMPLOYEE BENEFITS
KERJA KARYAWAN 22.490 2r,29 23.184 LIABILITY
2d,2l,
UTANG OBLIGASI - Neto 4.386.610 4,5,15 2.529.613 BONDS PAYABLE - Net
UTANG DERIVATIF 30.770 2d,16 10.151 DERIVATIVE PAYABLES
TOTAL LIABILITAS 13.979.302 13.633.055 TOTAL LIABILITIES
EKUITAS EQUITY
Modal saham - nilai nominal Share capital - Rp1,000,000
Rp1.000.000 per saham par value per share
(dalam rupiah penuh) (in full Rupiah amount)
Modal dasar - 2.000.000 saham Authorized - 2,000,000 shares
Modal ditempatkan dan disetor Issued and fully paid -
penuh - 1.042.000 saham pada 1,042,000 shares
tahun 2024 dan 2023 1.042.000 17 1.042.000 in 2024 and 2023
Tambahan modal disetor 1.785 1.785 Additional paid-in capital
Penghasilan komprehensif lain Other comprehensive income
Keuntungan aktuarial Actuarial gain on employee
atas liabilitas imbalan kerja - neto 5.129 29 3.083 benefits liability - net
Kerugian kumulatif Cumulative loss on
atas instrumen derivatif untuk derivative instrument for cash
lindung nilai arus kas - neto (37.317) 2d,16 (6.537) flow hedges - net
Keuntungan revaluasi tanah 70.488 9 70.488 Gain on land revaluation
Saldo laba Retained earnings
Telah ditentukan penggunaannya 2.300 18 2.200 Appropriated
Belum ditentukan penggunaannya 1.667.772 1.327.407 Unappropriated
Ekuitas - Neto 2.752.157 2.440.426 Equity - Net
TOTAL LIABILITAS DAN TOTAL LIABILITIES AND
EKUITAS 16.731.459 16.073.481 EQUITY
Catatan atas laporan keuangan terlampir merupakan bagian integral The accompanying notes to the financial statements form an integral
dari laporan keuangan. part of these financial statements.
3
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PT INDOMOBIL FINANCE INDONESIA
The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
LAPORAN LABA RUGI DAN STATEMENT OF PROFIT OR LOSS AND
PENGHASILAN KOMPREHENSIF LAIN OTHER COMPREHENSIVE INCOME
Untuk Tahun yang Berakhir pada Tanggal-Tanggal For the Years Ended
31 Desember 2024 dan 2023 December 31, 2024 and 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Tahun yang Berakhir pada tanggal 31 Desember/
Year ended December 31
Catatan/
2024 Notes 2023
PENDAPATAN INCOME
2c,2f,2m,2n,
Sewa pembiayaan 929.595 20,28c 1.185.998 Finance lease
2c,2e,2m,
Pembiayaan konsumen 1.193.745 19,28b 908.364 Consumer financing
2c,2g,
Anjak piutang 2.079 2m,21 8.010 Factoring
Pendapatan dari piutang Income from recovery of
yang telah dihapuskan, 2e,2f,2m, written-off accounts,
denda keterlambatan dan pinalti 352.090 4,5,23 242.349 late charges and penalties
Pendapatan bunga, Interest income,
laba penjualan aset tetap 2j, gain on sale of fixed assets
dan pendapatan lain-lain 55.029 3,9,22 37.772 and other income
Total pendapatan 2.532.538 2.382.493 Total income
BEBAN EXPENSES
2l,2m,2n,
Beban pembiayaan - neto 935.322 11,15,16,24 808.691 Financing charges - net
Penyisihan kerugian penurunan 2d,2e,2f,2g, Provision for impairment losses
nilai kas dan piutang 330.128 2h,3,4,5,6 516.441 on cash and receivables
Gaji, tunjangan dan Salaries, allowances and
beban kesejahteraan karyawan 357.353 2r,25,29 325.374 employee benefits expenses
Umum dan administrasi 215.472 2c,26,28e 221.120 General and administrative
Penyisihan kerugian Provision for
penurunan nilai lainnya dan other impairment
kerugian penjualan atas losses and loss on sale of
jaminan aset yang dibiayai 145.200 2d,2k,8 93.475 collateral of financed asset
Penyusutan aset hak guna 31.194 2j,9 30.909 Depreciation of right-of-use assets
Penyusutan aset tetap 24.823 2j,9 23.170 Depreciation of fixed assets
Total Beban 2.039.492 2.019.180 Total Expenses
LABA SEBELUM BEBAN PAJAK INCOME BEFORE FINAL TAX
FINAL DAN BEBAN PAJAK EXPENSE AND INCOME
PENGHASILAN 493.046 363.313 TAX EXPENSE
Beban pajak final (5.222) 2o,13,22 (1.784) Final tax expense
LABA SEBELUM INCOME BEFORE
BEBAN PAJAK PENGHASILAN 487.824 361.529 INCOME TAX EXPENSE
BEBAN PAJAK
PENGHASILAN - Neto (72.359) 2o,13 (88.117) INCOME TAX EXPENSE - Net
LABA TAHUN BERJALAN 415.465 273.412 INCOME FOR THE YEAR
Catatan atas laporan keuangan terlampir merupakan bagian integral The accompanying notes to the financial statements form an integral
dari laporan keuangan. part of these financial statements.
4
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PT INDOMOBIL FINANCE INDONESIA
The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
LAPORAN LABA RUGI DAN STATEMENT OF PROFIT OR LOSS AND
PENGHASILAN KOMPREHENSIF LAIN (lanjutan) OTHER COMPREHENSIVE INCOME (continued)
Untuk Tahun yang Berakhir pada Tanggal-Tanggal For the Years Ended
31 Desember 2024 dan 2023 December 31, 2024 and 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Tahun yang Berakhir pada tanggal 31 Desember/
Year ended December 31
Catatan/
2024 Notes 2023
Penghasilan komprehensif lain: Other comprehensive income:
Pos yang tidak akan direklasifikasi Items that will not be reclassified to
ke laba rugi: profit or loss:
Keuntungan aktuarial Actuarial gain on
atas liabilitas imbalan kerja 2.623 29 1.710 employee benefits liability
Pajak terkait (577) 13 (377) Related tax
Keuntungan aktuarial
atas liabilitas Actuarial gain on employee
imbalan kerja - neto 2.046 1.333 benefits liability - net
Keuntungan atas revaluasi Gain on fixed assets revaluation
aset tetap (tanah) - 9 10.215 (land)
Pos yang akan direklasifikasi Items that will be reclassified to
ke laba rugi: profit or loss:
(Kerugian) keuntungan atas (Loss) gain on cash
lindung nilai arus kas (39.461) 13.722 flow hedges
Pajak terkait 8.681 13 (3.019) Related tax
(Kerugian) keuntungan
atas lindung nilai (Loss) gain on cash flow
arus kas – neto (30.780) 16 10.703 hedges – net
Penghasilan Komprehensif Other Comprehensive
Lain - neto setelah pajak (28.734) 22.251 Income - net of tax
TOTAL PENGHASILAN
KOMPREHENSIF TOTAL COMPREHENSIVE
TAHUN BERJALAN 386.731 295.663 INCOME FOR THE YEAR
LABA TAHUN BERJALAN
PER SAHAM DASAR BASIC EARNINGS PER SHARE
(DALAM RUPIAH PENUH) 398.718 2q 262.392 (IN FULL RUPIAH AMOUNT)
Catatan atas laporan keuangan terlampir merupakan bagian integral The accompanying notes to the financial statements form an integral
dari laporan keuangan. part of these financial statements.
5
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184
The original financial statements included herein are in the Indonesian language.
PT INDOMOBIL FINANCE INDONESIA
STATEMENT OF CHANGES IN EQUITY
For the Years Ended
December 31, 2024 and 2023
(Expressed in millions of Indonesian Rupiah, unless otherwise stated)
ehensif lain/
ve income
ulatif
en
tuk
arus
/ Saldo laba/Retained earnings
ive Keuntungan
ative Revaluasi Tanah/ Telah ditentukan Belum ditentukan Ekuitas
cash Gain On penggunaannya/ penggunaannya/ neto/
- net Revaluation land Appropriated Unappropriated Net equity
17.240) 60.273 2.100 1.141.080 2.231.748 Balance as of December 31, 2022
- - - (86.985) (86.985) Cash dividends
- - 100 (100) - Appropriated retained earnings
- - - 273.412 273.412 Income for the year
Effective portion of cash flows
10.703 - - - 10.703 hedges - net
Actuarial gain on employee
- - - - 1.333 benefits liability - net
Gain on fixed assets revaluation
- 10.215 - - 10.215 (land)
(6.537) 70.488 2.200 1.327.407 2.440.426 Balance as of December 31, 2023
- - - (75.000) (75.000) Cash dividends
- - 100 (100) - Appropriated retained earnings
- - - 415.465 415.465 Income for the year
Effective portion of cash flows
30.780) - - - (30.780) hedges - net
Actuarial gain on employee
- - - - 2.046 benefits liability - net
37.317) 70.488 2.300 1.667.772 2.752.157 Balance as of December 31, 2024
The accompanying notes to the financial statements
form an integral part of these financial statements.
PT INDOMOBIL FINANCE INDONESIA
Page 205
PT INDOMOBIL FINANCE INDONESIA
The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
LAPORAN ARUS KAS STATEMENT OF CASH FLOWS
Untuk Tahun yang Berakhir pada Tanggal-Tanggal For the Years Ended
31 Desember 2024 dan 2023 December 31, 2024 and 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Tahun yang Berakhir pada tanggal 31 Desember/
Year ended December 31
Catatan/
2024 Notes 2023
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM
OPERASI OPERATING ACTIVITIES
Penerimaan kas dari: Cash receipts from:
Transaksi sewa pembiayaan 6.727.745 9.478.594 Finance lease transactions
Transaksi pembiayaan konsumen 5.309.647 3.600.138 Consumer financing transactions
Transaksi anjak piutang 163.646 381.233 Factoring transactions
Pendapatan lain-lain 377.924 267.696 Other income
Pendapatan bunga 18.954 4.997 Interest income
Total penerimaan kas 12.597.916 13.732.658 Total cash receipts
Pengeluaran kas untuk: Cash disbursements for:
Transaksi sewa pembiayaan (3.765.125) (8.262.379) Finance lease transactions
Transaksi pembiayaan konsumen (6.634.784) (4.496.567) Consumer financing transactions
Transaksi anjak piutang (209.653) (277.727) Factoring transactions
Pembayaran beban pembiayaan (993.567) (763.587) Payments of financing charges
Pembayaran gaji, Payments of salaries,
tunjangan dan beban allowances and employee
kesejahteraan karyawan (365.256) (321.177) benefits expenses
Pembayaran beban operasional (139.804) (236.634) Payments of operating expenses
Pembayaran pajak Payments of corporate
penghasilan badan (115.086) 13 (90.217) income tax
Total pengeluaran kas (12.223.275) (14.448.288) Total cash disbursements
Kas Neto Diperoleh dari
(Digunakan untuk) Net Cash Provided by (Used in)
Aktivitas Operasi 374.641 (715.630) Operating Activities
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM INVESTING
INVESTASI ACTIVITIES
Hasil penjualan aset tetap 9.418 9 8.427 Proceeds from sale of fixed assets
Perolehan aset tetap (58.556) 9 (56.482) Acquisition of fixed assets
Perolehan aset hak guna (13.117) (15.463) Acquisition of right-of-use assets
Kas Neto Digunakan untuk Net Cash Used in
Aktivitas Investasi (62.255) (63.518) Investing Activities
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM FINANCING
PENDANAAN ACTIVITIES
Penambahan utang bank 21.102.280 34 34.289.019 Proceeds from additional bank loans
Penerimaan dari penerbitan obligasi 2.831.005 15,34 1.283.905 Proceeds from issuance of bonds
Pelunasan utang bank (22.602.356) 34 (32.628.400) Repayment of bank loans
Pembayaran utang obligasi (970.800) 15,34 (2.053.375) Payments of bonds payable
Pengeluaran kas untuk bank-bank Cash disbursements for banks in
sehubungan dengan connection with refinancing
transaksi refinancing KPR dan of housing loan and
pembiayaan bersama (357) 34 (285) joint financing
Catatan atas laporan keuangan terlampir merupakan The accompanying notes to the financial statements
bagian integral dari laporan keuangan. form an integral part of these financial statements.
7
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PT INDOMOBIL FINANCE INDONESIA
The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
LAPORAN ARUS KAS (lanjutan) STATEMENT OF CASH FLOWS (continued)
Untuk Tahun yang Berakhir pada Tanggal-Tanggal For the Years Ended
31 Desember 2024 dan 2023 December 31, 2024 and 2023
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Tahun yang Berakhir pada tanggal 31 Desember/
Year ended December 31
Catatan/
2024 Notes 2023
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM FINANCING
PENDANAAN (lanjutan) ACTIVITIES (continued)
Pembayaran dividen kas (75.000) 18 (86.985) Payments of cash dividends
Pembayaran liabilitas sewa (17.154) (15.415) Payments of lease liabilities
Pembayaran biaya emisi obligasi (8.237) (4.094) Payments of bonds issuance costs
Kas Neto Diperoleh dari Net Cash
Aktivitas Pendanaan 259.381 784.370 Provided by Financing Activities
KENAIKAN NETO NET INCREASE IN
KAS DAN SETARA KAS 571.767 5.222 CASH AND CASH EQUIVALENTS
KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS
AWAL TAHUN 1.088.135 3 1.083.596 AT BEGINNING OF YEAR
Dampak neto perubahan Net effect of changes in
nilai tukar atas kas dan exchange rate on cash and
setara kas (745) (683) cash equivalents
KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS
AKHIR TAHUN 1.659.157 3 1.088.135 AT END OF YEAR
Komponen kas dan setara kas Cash and cash equivalents
terdiri dari: consist of:
Kas 17.314 25.913 Cash on hand
Bank 522.449 582.222 Cash in banks
Deposito berjangka 1.119.394 480.000 Time deposits
Total 1.659.157 1.088.135 Total
Catatan atas laporan keuangan terlampir merupakan The accompanying notes to the financial statements
bagian integral dari laporan keuangan. form an integral part of these financial statements.
8
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PT INDOMOBIL FINANCE INDONESIA
The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. UMUM 1. GENERAL
a. Pendirian Perusahaan a. The Company’s Establishment
PT Indomobil Finance Indonesia PT Indomobil Finance Indonesia
(“Perusahaan”) didirikan di Republik Indonesia (the “Company”) was established in the
dengan nama PT Indomaru Multi Finance Republic of Indonesia under the name of
berdasarkan Akta Notaris Nurul Hidajati PT Indomaru Multi Finance based on the
Handoko, S.H., No. 2 tanggal 1 November Notarial Deed No. 2 dated November 1, 1993 of
1993. Akta pendirian ini disahkan oleh Menteri Nurul Hidajati Handoko, S.H. The Deed of
Kehakiman dalam Surat Keputusan Establishment was approved by the
No. C2-14368.HT.01.01.TH.93 tanggal Ministry of Justice in its Decision
24 Desember 1993 dan diumumkan dalam Letter No. C2-14368.HT.01.01.TH.93 dated
Tambahan No. 9640 Lembaran Berita Negara December 24, 1993 and was published in
Republik Indonesia No. 94, tanggal Supplement No. 9640 of the State Gazette
25 November 1994. Nama Perusahaan telah No. 94 dated November 25, 1994.
diubah berdasarkan Akta Notaris Muhammad The Company’s name has been changed to
Kholid Artha, S.H., No. 115 tanggal PT Indomobil Finance Indonesia based on
27 Februari 2003 menjadi PT Indomobil the Notarial Deed No. 115 dated
Finance Indonesia. Perubahan tersebut telah February 27, 2003 of Muhammad Kholid Artha,
disahkan oleh Menteri Kehakiman dan Hak S.H. The amendment was approved by the
Asasi Manusia dalam Surat Keputusan Ministry of Justice and Human Rights in its
No. C-06773 HT.01.04.TH.2003 tanggal Decision Letter No. C-06773
28 Maret 2003 dan diumumkan dalam HT.01.04.TH.2003 dated March 28, 2003 and
Tambahan No. 4788 Lembaran Berita Negara was published in Supplement
Republik Indonesia No. 48, tanggal No. 4788 of the State Gazette No. 48 dated
17 Juni 2003. Anggaran Dasar Perusahaan June 17, 2003. The Company’s Articles of
telah mengalami beberapa kali perubahan dan Association has been amended several times,
yang terakhir berdasarkan Akta Notaris the latest by Notarial Deed No. 26 dated
Muhammad Kholid Artha, S.H. No. 26 tanggal January 8, 2024 of Muhammad Kholid Artha,
8 Januari 2024 mengenai perubahan maksud S.H. concerning the changes related to purpose
dan tujuan serta perubahan dan penyesuaian and objective as well as changes and
alamat Perusahaan. Perubahan ini telah adjustment to address of the Company.
mendapatkan persetujuan dari Menteri Hukum The amendment has been approved by the
dan Hak Asasi Manusia dengan keputusan Ministry of Laws and Human Rights with
No. AHU-0001531.AH.01.02.Tahun 2024 Decision No. AHU-0001531.AH.01.02.Year
tanggal 10 Januari 2024 serta pemberitahuan 2024 dated January 10, 2024 and this
perubahan tersebut telah diterima dan dicatat notification of amendment has also been
oleh Menteri Hukum dan Hak Asasi Manusia received and recorded by the Ministry of Laws
Republik Indonesia berdasarkan Surat and Human Rights in its Decision Letter
Keputusan No. AHU-AH.01.09-0010518 No. AHU-AH-01.09-0010518 Year 2024 dated
tanggal 10 Januari 2024. January 10, 2024.
Sesuai dengan pasal 3 Anggaran Dasar Based on Article 3 of the Company’s Articles of
Perusahaan, ruang lingkup kegiatan Association, the scope of activities of
Perusahaan adalah sebagai berikut: the Company comprises of financing activities
under:
a. Pembiayaan konvensional a. Conventional financing
Mencakup usaha perusahaan pembiayaan Includes finance company businesses
yang diselenggarakan secara organized conventionally, with business
konvensional, dengan kegiatan usaha activities including financing goods and/or
meliputi pembiayaan barang dan/atau jasa, services, namely investment financing,
yaitu pembiayaan investasi, pembiayaan working capital financing, multipurpose
modal kerja, pembiayaan multiguna financing and/or other financing business
dan/atau kegiatan usaha pembiayaan lain. activities.
9
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. UMUM (lanjutan) 1. GENERAL (continued)
a. Pendirian Perusahaan (lanjutan) a. The Company’s Establishment (continued)
Sesuai dengan pasal 3 Anggaran Dasar Based on Article 3 of the Company’s Articles of
Perusahaan, ruang lingkup kegiatan Association, the scope of activities of
Perusahaan adalah sebagai berikut: (lanjutan) the Company comprises of financing activities
under: (continued)
b. Unit usaha syariah perusahaan pembiayaan b. Finance company sharia business unit
Mencakup kegiatan unit kerja dari kantor Includes the activities of work units from the
pusat perusahaan pembiayaan yang head office of finance companies that carry
melaksanakan kegiatan pembiayaan syariah out sharia financing activities and/or function
dan/atau berfungsi sebagai kantor induk dari as the main office of offices that carry out
kantor yang melaksanakan pembiayaan sharia financing.
syariah.
Pada tanggal 17 Februari 1994, Perusahaan On February 17, 1994, the Company obtained
memperoleh izin usaha sebagai lembaga its license to become a financial institution
pembiayaan dari Menteri Keuangan dalam based on the Decision Letter of the Ministry of
Surat Keputusan No. 61/KMK.017/1994, yang Finance No. 61/KMK.017/1994, which was
diubah dengan Surat Keputusan Menteri subsequently amended by the Decision Letter
Keuangan No. 223/KMK.017/1997 tanggal of the Ministry of Finance No. 223/KMK.017/
9 Mei 1997 dan terakhir diubah dengan Surat 1997 dated May 9, 1997 and the latest was
Keputusan Menteri Keuangan No. KEP-169/ amended by the Decision Letter of the Ministry
KM.6/2003 tanggal 12 Mei 2003. Berdasarkan of Finance No. KEP-169/KM.6/2003 dated May
izin tersebut, Perusahaan sebagai lembaga 12, 2003. With this license, the Company, as a
pembiayaan, dapat melakukan kegiatan dalam financial institution, is allowed to engage in
bidang sewa guna usaha, pembiayaan leasing, consumer financing, and factoring
konsumen, dan anjak piutang. activities.
Saat ini, Perusahaan menjalankan kegiatan Currently, the Company is engaged in
pembiayaan dalam bentuk pembiayaan consumer financing, leasing, and factoring
konsumen, sewa guna usaha, dan anjak activities.
piutang.
Perusahaan memulai kegiatan usaha The Company started its commercial
komersialnya pada bulan Februari 1994. operations in February 1994.
Perusahaan berdomisili di Jakarta dan The Company is domiciled in Jakarta and has
mempunyai 210 cabang di Indonesia. Kantor 210 branches in Indonesia. The Company’s
pusat Perusahaan berlokasi di Indomobil head office is located at Indomobil Tower,
Tower, Lantai 8, Jl. M.T. Haryono Kav. 11, 8th Floor, Jl. M.T. Haryono Kav. 11,
Jakarta 13330. Jakarta 13330.
PT Indomobil Multi Jasa Tbk dan Gallant PT Indomobil Multi Jasa Tbk and Gallant
Venture Ltd. masing-masing adalah entitas Venture Ltd. are the parent entity and ultimate
induk dan entitas induk terakhir Perusahaan. parent entity of the Company, respectively.
b. Penawaran Umum Obligasi b. Bond Offerings
Pada bulan Februari 2018, Perusahaan In February 2018, the Company offered to the
menawarkan “Obligasi Berkelanjutan III public, “Indomobil Finance Indonesia
Indomobil Finance dengan Tingkat Bunga Continuous Bond III Phase II with Fixed Interest
Tetap Tahap II Tahun 2018” dengan jumlah Rates Year 2018” with nominal value of
pokok obligasi sebesar Rp1.082.000 (Catatan Rp1,082,000 (Note 15). On
15). Obligasi ini dicatatkan pada Bursa Efek February 19, 2018, the Company listed these
Indonesia pada tanggal 19 Februari 2018. bonds on the Indonesia Stock Exchange.
10
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. UMUM (lanjutan) 1. GENERAL (continued)
b. Penawaran Umum Obligasi (lanjutan) b. Bond Offerings (continued)
Pada bulan Mei 2018, Perusahaan In May 2018, the Company offered to the public,
menawarkan “Obligasi Berkelanjutan III “Indomobil Finance Indonesia Continuous Bond
Indomobil Finance dengan Tingkat Bunga III Phase III with Fixed Interest Rates Year
Tetap Tahap III Tahun 2018” dengan jumlah 2018” with nominal value of Rp1,000,000 (Note
pokok obligasi sebesar Rp1.000.000 (Catatan 15). On May 21, 2018, the Company listed
15). Obligasi ini dicatatkan pada Bursa Efek these bonds on the Indonesia Stock Exchange.
Indonesia pada tanggal 21 Mei 2018.
Pada bulan Agustus 2020, Perusahaan In August 2020, the Company offered to the
menerbitkan Obligasi Berkelanjutan IV public, Indomobil Finance Indonesia
Indomobil Finance Indonesia dengan tingkat Continuous Bonds IV with fixed interest rates
bunga tetap dengan target dana yang dihimpun under shelf registration program of up to
sebesar Rp4.000.000, yang dinyatakan efektif Rp4,000,000 which became effective on July
oleh OJK berdasarkan 24, 2020 based on the Decision Letter No.S-
Surat Keputusan No.S-199/D.04/2020 pada 199/D.04/2020 of OJK. In the continuous public
tanggal 24 Juli 2020. Dalam rangka penawaran offering, the Company issued and offered
umum berkelanjutan tersebut, Perusahaan “Indomobil Finance Indonesia Continuous Bond
menerbitkan dan menawarkan “Obligasi IV Phase I Year 2020 with Fixed Interest Rates”
Berkelanjutan IV Indomobil Finance dengan with nominal value of Rp336,000 (Note 15). On
Tingkat Bunga Tetap Tahap I Tahun 2020” August 5, 2020, the Company listed these
dengan jumlah pokok obligasi sebesar bonds on the Indonesia Stock Exchange.
Rp336.000 (Catatan 15). Obligasi ini dicatatkan
pada Bursa Efek Indonesia pada tanggal 5
Agustus 2020.
Pada bulan November 2021, Perusahaan In November 2021, the Company offered to the
menawarkan “Obligasi Berkelanjutan IV public, “Indomobil Finance Indonesia
Indomobil Finance dengan Tingkat Bunga Continuous Bond IV Phase II with Fixed Interest
Tetap Tahap II Tahun 2020” dengan jumlah Rates Year 2020” with nominal value of
pokok obligasi sebesar Rp1.925.340 (Catatan Rp1,925,340 (Note 15). On November 22, 2021,
15). Obligasi ini dicatatkan pada Bursa Efek the Company listed these bonds on the
Indonesia pada tanggal 22 November 2021. Indonesia Stock Exchange.
Pada bulan Maret 2022, Perusahaan In March 2022, the Company offered to the
menawarkan “Obligasi Berkelanjutan IV public, “Indomobil Finance Indonesia
Indomobil Finance dengan Tingkat Bunga Continuous Bond IV Phase III with Fixed Interest
Tetap Tahap III Tahun 2022” dengan jumlah Rates Year 2022” with nominal value of
pokok obligasi sebesar Rp1.738.660 (Catatan Rp1,738,660 (Note 15). On March 28, 2022, the
15). Obligasi ini dicatatkan pada Bursa Efek Company listed these bonds on the Indonesia
Indonesia pada tanggal 28 Maret 2022. Stock Exchange.
Pada bulan Juli 2022, Perusahaan In July 2022, the Company offered to the public,
menerbitkan "Obligasi Berkelanjutan V Indomobil Finance Indonesia Continuous Bonds
Indomobil Finance Indonesia dengan tingkat V with fixed interest rates under shelf
bunga tetap dengan target dana yang dihimpun registration program of up to Rp5,000,000 which
sebesar Rp5.000.000, yang dinyatakan efektif became effective on June 30, 2022 based on the
oleh OJK berdasarkan Surat Keputusan No.S- Decision Letter No.S-109/D.04/2022 of OJK. In
109/D.04/2022 pada tanggal the continuous public offering, the Company
30 Juni 2022. Dalam rangka penawaran umum issued and offered “Indomobil Finance
berkelanjutan tersebut, IMFI menerbitkan dan Indonesia Continuous Bond V Phase I Year
menawarkan “Obligasi Berkelanjutan V 2022 with Fixed Interest Rates” with nominal
Indomobil Finance dengan Tingkat Bunga value of Rp600,000 (Note 15). On July 11, 2022,
Tetap Tahap I Tahun 2022” dengan jumlah the Company listed these bonds on the
pokok obligasi sebesar Rp600.000 (Catatan Indonesia Stock Exchange.
15). Obligasi ini dicatatkan pada Bursa Efek
Indonesia pada tanggal 11 Juli 2022.
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. UMUM (lanjutan) 1. GENERAL (continued)
b. Penawaran Umum Obligasi (lanjutan) b. Bond Offerings (continued)
Pada bulan Maret 2023, Perusahaan In March 2023, the Company offered to the
menawarkan “Obligasi Berkelanjutan V public, “Indomobil Finance Indonesia
Indomobil Finance dengan Tingkat Bunga Continuous Bond V Phase II with Fixed Interest
Tetap Tahap II Tahun 2023” dengan jumlah Rates Year 2023” with nominal value of
pokok obligasi sebesar Rp1.283.905 (Catatan Rp1,283,905 (Note 15). On
15). Pada tanggal 29 Maret 2023, Perusahaan March 29, 2023, the Company listed these
mencatatkan obligasi ini pada Bursa Efek bonds on the Indonesia Stock Exchange.
Indonesia.
Pada bulan Juni 2024, Perusahaan In June 2024, the Company offered to the
menawarkan “Obligasi Berkelanjutan V public, “Indomobil Finance Indonesia
Indomobil Finance dengan Tingkat Bunga Continuous Bond V Phase III with Fixed Interest
Tetap Tahap III Tahun 2024” dengan jumlah Rates Year 2024” with nominal value of
pokok obligasi sebesar Rp2.831.005 (Catatan Rp2,831,005 (Note 15). On June 24, 2024, the
15). Pada tanggal 24 Juni 2024, Perusahaan Company listed these bonds on the Indonesia
mencatatkan obligasi ini pada Bursa Efek Stock Exchange.
Indonesia.
c. Dewan Komisaris dan Direksi dan Karyawan c. Boards of Commissioners and Directors
and Employees
Susunan Dewan Komisaris dan Direksi The members of the Company’s Boards of
Perusahaan pada tanggal 31 Desember 2024 Commissioners and Directors as of
dan 2023 adalah sebagai berikut: December 31, 2024 and 2023 are as follows:
Dewan Komisaris Board of Commissioners
Presiden Komisaris Jusak Kertowidjojo President Commissioner
Komisaris Gunawan Effendi Commissioner
Komisaris Independen Triyana Iskandarsjah Independent Commissioner
Direksi Board of Directors
Presiden Direktur Edy Handojo Santoso President Director
Direktur Paulus A. Larosa Director
Direktur Sifra Viona Tjahjono Director
Ruang lingkup tanggung jawab anggota Direksi The scope of responsibility of the members of
pada tanggal 31 Desember 2024 dan 2023 Board of Directors as of December 31, 2024
adalah sebagai berikut: and 2023 are as follows:
Ruang lingkup tanggung jawab Scope of responsibility
Administrasi umum dan ketaatan Edy Handojo Santoso General administration and compliance
Akuntansi, budget dan perpajakan Paulus A. Larosa Accounting, budget and tax
Operasional Sifra Viona Tjahjono Operation
Personil manajemen kunci Perusahaan meliputi Key management personnel of the Company
Dewan Komisaris dan Direksi. Total are the Boards of Commissioners and
kompensasi yang diterima Dewan Komisaris Directors. Total compensation received by
dan Direksi Perusahaan adalah sebagai the members of the Company’s Boards of
berikut: Commissioners and Directors is as follows:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Komisaris 9.592 9.759 Board of Commissioners
Direksi 6.526 6.226 Board of Directors
Total 16.118 15.985 Total
12
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. UMUM (Lanjutan) 1. GENERAL (continued)
c. Dewan Komisaris dan Direksi dan Karyawan c. Boards of Commissioners and Directors
(lanjutan) and Employees (continued)
Tidak ada kompensasi dalam bentuk imbalan There is no compensation of post-employment
pasca kerja, imbalan kerja jangka panjang benefits, other long-term benefits, termination
lainnya, pesangon pemutusan kontrak kerja benefits, and share-based payment for the key
dan pembayaran berbasis saham bagi management personnel of the Company.
manajemen kunci Perusahaan.
Susunan Komite Audit Perusahaan pada The members of the Company’s Audit
tanggal 31 Desember 2024 dan 2023 adalah Committee as of December 31, 2024 and 2023
sebagai berikut: are as follows:
Komite Audit Audit Committee
Ketua : Triyana Iskandarsjah : Head
Anggota : Atty Yuniawati : Member
Anggota : Vera Intanie Dewi : Member
Susunan Sekretaris Perusahaan dan Kepala The Corporate Secretary and Head of Internal
Audit Internal pada tanggal 31 Desember 2024 Audit as of December 31, 2024 and 2023 are
dan 2023 adalah sebagai berikut: as follows:
Sekretaris Perusahaan : Wasistyo Adi Saras Putro : Corporate Secretary
Kepala Audit Internal : Indra : Head of Internal Audit
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023,
Perusahaan mempunyai karyawan tetap the Company has a total of 2,015 and 1,831
masing-masing berjumlah 2.015 dan 1.831 permanent employees, respectively
karyawan tetap (tidak diaudit). (unaudited).
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL POLICIES INFORMATION
a. Dasar Penyajian Laporan Keuangan a. Basis of Presentation of Financial
Statements
Laporan keuangan telah disusun dan disajikan The financial statements have been prepared
sesuai dengan Standar Akuntansi Keuangan di and presented in accordance with Indonesian
Indonesia (“SAK”), yang mencakup Pernyataan Financial Accounting Standards (“SAK”), which
dan Interpretasi yang dikeluarkan oleh Dewan comprise the Statements and Interpretations
Standar Akuntansi Keuangan Ikatan Akuntan issued by the Financial Accounting Standards
Indonesia (DSAK IAI) dan Peraturan-Peraturan Board of the Institute of Indonesia Chartered
serta Peraturan No. VIII.G.7 mengenai Pedoman Accountants (Dewan Standar Akuntansi
Penyajian dan Pengungkapan Laporan Keuangan Keuangan Ikatan Akuntan Indonesia or DSAK
yang diterbitkan oleh Otoritas Jasa Keuangan IAI) and the Regulations No. VIII.G.7 on the
(“OJK”). Guidelines for Financial Statement
Presentation and Disclosures issued by
Financial Services Authority (Otoritas Jasa
Keuangan” or “ OJK”).
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN 2. SUMMARY OF MATERIAL ACCOUNTING
AKUNTANSI MATERIAL (lanjutan) POLICIES INFORMATION (continued)
a. Dasar Penyajian Laporan Keuangan a. Basis of Presentation of Financial Statements
(lanjutan) (continued)
Laporan keuangan, kecuali laporan arus kas, The financial statements, except for the
disusun berdasarkan konsep akrual dengan statement of cash flows, have been prepared on
menggunakan konsep biaya historis, seperti yang the accrual basis, prepared using historical cost
disebutkan dalam catatan atas laporan keuangan concept, as disclosed in the relevant notes to the
yang relevan, kecuali untuk instrumen keuangan financial statements, except for derivative
derivatif yang diukur pada nilai wajar dan utang financial instruments which are measured at fair
atas kewajiban imbalan pasti yang diakui sebesar value and the liability for defined benefit
nilai kini kewajiban imbalan pasti. obligations which is recognized at the present
value of the defined benefit obligations.
Laporan arus kas menyajikan informasi The statement of cash flows presents information
penerimaan dan pengeluaran kas dan setara kas of cash receipts and payments of cash and cash
yang diklasifikasikan ke dalam aktivitas operasi, equivalents classified into operating, investing
investasi dan pendanaan dengan menggunakan and financing activities using the direct method.
metode langsung.
Kebijakan akuntansi yang diterapkan oleh The accounting policies adopted by the
Perusahaan adalah selaras bagi tahun yang Company are consistently applied for the years
dicakup oleh laporan keuangan, kecuali untuk covered by the financial statements, except for
standar akuntansi baru dan revisi seperti new and revised accounting standards as
diungkapkan pada catatan dibawah ini. disclosed in the following note below.
Perusahaan telah menyusun laporan keuangan The Company has prepared the financial
dengan dasar bahwa Perusahaan akan terus statements on the basis that it will continue to
beroperasi secara berkesinambungan. operate as a going concern.
Pos-pos dalam penghasilan komprehensif lain The items under other comprehensive income
disajikan terpisah antara akun-akun yang akan (OCI) are presented separately between items
direklasifikasikan ke laba rugi dan akun-akun yang to be reclassified to profit or loss and those
tidak akan direklasifikasikan ke laba rugi. items not to be reclassified to profit or loss.
Dalam penyusunan laporan keuangan sesuai The preparation of financial statements in
dengan Standar Akuntansi Keuangan Indonesia, conformity with Indonesian Financial
dibutuhkan estimasi dan asumsi yang Accounting Standards requires the use of
mempengaruhi: estimates and assumptions that affects:
- nilai aset dan liabilitas dilaporkan dan - the reported amounts of assets and
pengungkapan atas aset dan liabilitas liabilities and disclosure of contingent
kontinjensi pada tanggal laporan keuangan, assets and liabilites at the date of the
dan financial statements, and
- jumlah pendapatan dan beban selama periode - the reported amounts of revenues and
pelaporan. expenses during the reporting period.
Walaupun estimasi ini dibuat berdasarkan Although these estimates are based on
pengetahuan terbaik manajemen atas kejadian dan management’s best knowledge of current
tindakan saat ini, hasil yang timbul mungkin berbeda events and activities, actual results may differ
dengan jumlah yang diestimasi semula. from those estimates.
Mata uang pelaporan yang digunakan dalam The reporting currency used in the financial
penyusunan laporan keuangan ini adalah mata statements is Indonesian Rupiah, which is
uang Rupiah yang merupakan mata uang the functional currency.
fungsional.
14
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
a. Dasar Penyajian Laporan Keuangan a. Basis of Presentation of Financial
(lanjutan) Statements (continued)
Perubahan kebijakan akuntansi Changes in accounting principles
Efektif tanggal 1 Januari 2024, Perusahaan Effective on January 1, 2024, the Company has
menerapkan Pernyataan Standar Akuntansi applied revised Statements of Financial
Keuangan (“PSAK”) revisi yang relevan untuk Accounting Standards (“PSAK”) which are
Perusahaan, sebagai berikut: relevant to the Company, as follows:
Pilar Standar Akuntansi Keuangan Financial Accounting Standards Pillars
Standar ini memberikan persyaratan dan These standards provides requirements and
pedoman bagi entitas untuk menerapkan standar guidelines for entities to apply the correct
akuntansi keuangan yang benar dalam financial accounting standards in preparing
menyusun laporan keuangan bertujuan umum. general purpose financial statements. There will
Akan ada 4 (empat) standar akuntansi keuangan be 4 (four) financial accounting standards that
yang saat ini diterapkan di Indonesia, yaitu: are currently applied in Indonesia, namely:
1. Pilar 1 Standar Akuntansi Keuangan 1. Pillar 1 International Financial Accounting
Internasional, Standards,
2. Pilar 2 Standar Akuntansi Keuangan 2. Pillar 2 Indonesian Financial Accounting
Indonesia (PSAK), Standards (PSAK),
3. Pilar 3 Standar Akuntansi Keuangan 3. Pillar 3 Indonesian Financial Accounting
Indonesia untuk Entitas Swasta/Standar Standards for Private Entities/Indonesian
Akuntansi Keuangan Indonesia untuk Entitas Financial Accounting Standards for Entities
Tanpa Akuntabilitas Publik, dan without Public Accountability, and
4. Pilar 4 Standar Akuntansi Keuangan 4. Pillar 4 Indonesian Financial Accounting
Indonesia untuk Entitas Mikro Kecil dan Standards for Micro Small and Medium
Menengah. Entities.
Standar Akuntansi Keuangan Internasional International Financial Accounting Standard
Standar ini merupakan adopsi penuh dari This standard is a full-adoption of International
International Financial Reporting Standards Financial Reporting Standards (“IFRS”) which
(“IFRS”) yang diterjemahkan kata demi kata is translated in a word-for-word basis and there
dan tidak ada modifikasi dari Standar IFRS, is no modifications from IFRS Standards,
termasuk tanggal efektifnya. Entitas yang including the effective date. Entities that meet
memenuhi persyaratan dapat menerapkan the requirements can apply this standard, from
standar ini, sejak tanggal efektif. ]
the effective date.
Nomenklatur Standar Akuntansi Keuangan Financial Accounting Standards Nomenclature
Standar ini ini mengatur penomoran baru untuk This standard regulates the new numbering for
standar akuntansi keuangan yang berlaku di financial accounting standards applicable in
Indonesia yang diterbitkan oleh DSAK IAI. Indonesia issued by DSAK IAI.
Amandemen PSAK 201: Liabilitas Jangka Amendment of PSAK 201: Non-current
Panjang dengan Kovenan Liabilities with Covenants
Amandemen ini menentukan persyaratan untuk The amendments specify the requirements for
mengklasifikasikan suatu liabilitas sebagai classifying liabilities as current or non-current
jangka pendek atau jangka panjang dan and clarify:
menjelaskan:
hal yang dimaksud sebagai hak untuk what is meant by a right to defer
menangguhkan pelunasan, settlement,
hak untuk menangguhkan pelunasan harus the right to defer must exist at the end of
ada pada akhir periode pelaporan, the reporting period,
15
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
a. Dasar Penyajian Laporan Keuangan a. Basis of Presentation of Financial
(lanjutan) Statements (continued)
Perubahan kebijakan akuntansi (lanjutan) Changes in accounting principles
(continued)
Amandemen PSAK 201: Liabilitas Jangka Amendment of PSAK 201: Non-current
Panjang dengan Kovenan (lanjutan) Liabilities with Covenants (continued)
klasifikasi tersebut tidak dipengaruhi oleh classification is not affected by the
kemungkinan entitas akan menggunakan likelihood that an entity will exercise its
hakya untuk menangguhkan liabilitas, dan deferral right, and
hanya jika derivatif melekat pada liabilitas only if an embedded derivative in a
konversi tersebut adalah suatu instrumen convertible liability is an equity instrument
ekuitas, maka syarat dan ketentuan dari would the terms and conditions of a
suatu liabilitas konversi tidak akan liability will not impact its classification.
berdampak pada klasifikasinya.
Selain itu, persyaratan telah diperkenalkan In addition, a requirement has been
untuk mewajibkan pengungkapan ketika introduced to require disclosure when a
suatu kewajiban timbul dari pinjaman liability arising from a loan agreement is
perjanjian diklasifikasikan sebagai tidak classified as non-current and the entity’s
lancar dan hak entitas untuk menunda right to defer settlement is contingent on
penyelesaian bergantung pada kepatuhan compliance with future covenants within
terhadap persyaratan di masa depan dalam twelve months.
waktu dua belas bulan.
Amandemen PSAK 116: Liabilitas Sewa dalam Amendment of PSAK 116: Lease liability in a
Jual Beli dan Sewa-balik Sale and Leaseback
Amandemen PSAK 116 Sewa menetapkan The amendment to PSAK 116 Leases
persyaratan yang digunakan penjual-penyewa specifies the requirements that a seller-lessee
dalam mengukur kewajiban sewa yang timbul uses in measuring the lease liability arising in
dalam transaksi jual beli dan sewa-balik, untuk a sale and leaseback transaction, to ensure
memastikan penjual-penyewa tidak mengakui the seller-lessee does not recognise any
jumlah setiap keuntungan atau kerugian yang amount of the gain or loss that relates to the
terkait dengan hak guna yang dipertahankan. right of use it retains.
Amandemen PSAK 207 dan PSAK 107: Amendment of PSAK 207 and PSAK 107:
Pengaturan Pembiayaan Pemasok Supplier Finance Arrangements
Amandemen PSAK 207 dan PSAK 107 The amendments to PSAK 207 and PSAK 107
mengklarifikasi karakteristik pengaturan clarify the characteristics of supplier finance
pembiayaan pemasok dan mensyaratkan arrangements and require additional disclosure
pengungkapan tambahan atas pengaturan of such arrangements. The disclosure
pembiayaan pemasok tersebut. Persyaratan requirements in the amendments are intended
pengungkapan dalam amandemen ini to assist users of financial statements in
dimaksudkan untuk membantu pengguna understanding the effects of supplier finance
laporan keuangan dalam memahami dampak arrangements on an entity’s liabilities, cash
pengaturan pembiayaan pemasok terhadap flows and exposure to liquidity risk.
liabilitas, arus kas, dan eksposur terhadap risiko
likuiditas suatu entitas.
Perusahaan telah menganalisa penerapan The Company has assessed that the adoption of
standar akuntansi di atas dan tidak memiliki the above mentioned accounting standards does
pengaruh yang signifikan terhadap laporan not have significant impact to the financial
keuangan. statements.
16
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
b. Kas dan Setara Kas b. Cash and Cash Equivalents
Kas dan setara kas terdiri dari kas, bank dan Cash and cash equivalents consist of cash on
deposito berjangka dengan jangka waktu hand, cash in banks and time deposits with
3 (tiga) bulan atau kurang sejak tanggal maturity period of 3 (three) months or less at the
penempatan dan tidak digunakan sebagai time of placement and not pledged as collateral
jaminan untuk utang. to loans.
c. Transaksi dengan Pihak-Pihak Berelasi c. Transactions with Related Parties
Perusahaan mempunyai transaksi dengan The Company has transactions with related
pihak berelasi. parties.
Suatu pihak dianggap berelasi dengan The Company considers the following as its
Perusahaan jika: related parties:
a. Orang atau anggota keluarga dekatnya a. A person or a close member of that
mempunyai relasi dengan entitas pelapor person’s family is related to a reporting
jika orang tersebut: entity if that person:
- memiliki pengendalian atau - has control or joint control of the
pengendalian bersama atas entitas reporting entity;
pelapor;
- memiliki pengaruh signifikan atas - has significant influence over the
entitas pelapor; atau reporting entity; or
- merupakan personil manajemen kunci - is a member of the key management
entitas pelapor atau entitas induk dari personnel of the reporting entity or of a
entitas pelapor. parent of the reporting entity.
b. Suatu entitas berelasi dengan entitas b. An entity is related to a reporting entity if
pelapor jika memenuhi salah satu hal any of the following conditions applies:
berikut:
(i) entitas dan entitas pelapor adalah (i) the entity and the reporting entity are
anggota dari kelompok usaha yang members of the same group (which
sama (artinya entitas induk, entitas means that each parent, subsidiary
anak, dan entitas anak berikutnya and fellow subsidiary is related to the
saling berelasi dengan entitas others).
lainnya).
(ii) satu entitas adalah entitas asosiasi (ii) one entity is an associate or joint
atau ventura bersama dari entitas lain venture of the other entity (or an
(atau entitas asosiasi atau ventura associate or joint venture of a member
bersama yang merupakan anggota of a group of which the other entity is a
suatu kelompok usaha, yang mana member).
entitas lain tersebut adalah
anggotanya).
(iii) kedua entitas tersebut adalah ventura (iii) both entities are joint ventures of the
bersama dari pihak ketiga yang sama. same third party.
(iv) satu entitas adalah ventura bersama
dari entitas ketiga dan entitas yang (iv) one entity is a joint venture of third
lain adalah entitas asosiasi dari entitas entity and the other entity is an
ketiga. associate of the third entity.
(v) entitas tersebut adalah suatu program
imbalan pasca kerja untuk imbalan (v) the entity is a post-employment benefit
kerja dari salah satu entitas plan for the benefit of employees of
pelapor atau entitas yang terkait either the reporting entity or an entity
dengan entitas pelapor. Jika entitas related to the reporting entity. If the
pelapor adalah entitas yang reporting entity is itself such a plan, the
menyelenggarakan program tersebut, sponsoring employers are also related
maka entitas sponsor juga berelasi to the reporting entity.
dengan entitas pelapor.
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
c. Transaksi dengan Pihak-Pihak Berelasi c. Transactions with Related Parties
(lanjutan) (continued)
(vi) entitas yang dikendalikan atau (vi) the entity is controlled or jointly controlled
dikendalikan bersama oleh orang yang by a person identified in point (a).
diidentifikasi dalam huruf (a).
(vii) orang yang diidentifikasi dalam huruf (a)(i) (vii) a person identified in point (a)(i) has
memiliki pengaruh signifikan atas entitas significant influence over the entity or is a
atau merupakan personil manajemen member of the key management personnel
kunci entitas (atau entitas induk dari of the entity (or of a parent of the entity).
entitas).
Seluruh transaksi dengan pihak-pihak berelasi All transactions with related parties are
telah diungkapkan di catatan atas laporan disclosed in the notes to the financial
keuangan. statements.
d. Instrumen Keuangan d. Financial Instruments
i. Aset Keuangan i. Financial Assets
Perusahaan menggunakan 2 (dua) dasar The Company uses 2 (two) bases for
untuk mengklasifikasikan aset keuangan classifying financial assets, namely
yaitu penilaian model bisnis dan penilaian valuation of the business model and
mengenai arus kas kontraktual yang evaluation of contractual cash flows
diperoleh semata dari pembayaran pokok obtained solely from payment of principal
dan bunga. and interest.
Penilaian model bisnis Valuation of the business model
Model bisnis ditentukan pada level yang The business model is determined at a
mencerminkan bagaimana kelompok aset level that reflects how groups of financial
keuangan dikelola bersama-sama untuk assets are managed together to achieve
mencapai tujuan bisnis tertentu. certain business objectives.
Penilaian model bisnis dilakukan dengan The evaluation of the business model is
mempertimbangkan, tetapi tidak terbatas carried out by considering, but not limited
pada, hal-hal berikut: to, the following:
Bagaimana kinerja dari model bisnis How the performance of the business
dan aset keuangan yang dimiliki dalam model and financial assets held in the
model bisnis dievaluasi dan dilaporkan business model are evaluated and
kepada personil manajemen kunci reported to the Company's key
Perusahaan; management personnel;
Apakah risiko yang memengaruhi What risks affect the performance of the
kinerja dari model bisnis (termasuk aset business model (including financial
keuangan yang dimiliki dalam model assets held in the business model) and
bisnis) dan khususnya bagaimana cara specifically how the financial assets are
aset keuangan tersebut dikelola; dan managed; and
Bagaimana penilaian kinerja pengelola How to evaluate the performance of
aset keuangan (sebagai contoh, apakah managers of financial assets (for
penilaian kinerja berdasarkan nilai wajar example, whether performance
dari aset yang dikelola atau arus kas appraisals are based on the fair value of
kontraktual yang diperoleh). the assets being managed or the
Frekuensi, nilai, dan waktu penjualan contractual cash flows obtained).
yang diharapkan. Expected frequency, value, and time of
sales.
18
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Untuk tujuan penilaian ini, pokok For the purpose of this valuation, principal is
didefinisikan sebagai nilai wajar dari aset defined as the fair value of financial assets
keuangan pada saat pengakuan awal. at initial recognition. Interest is defined as
Bunga didefinisikan sebagai imbalan untuk compensation for the time value of money
nilai waktu atas uang dan risiko kredit and credit risk in relation to the principal
terkait jumlah pokok terutang pada periode amount owed over a certain period of time
waktu tertentu dan juga risiko dan biaya and also the risk and standard borrowing
peminjaman standar, dan juga marjin laba. costs, as well as profit margins.
Penilaian mengenai arus kas kontraktual An assessment of contractual cash flows
yang diperoleh semata dari pembayaran obtained solely from principal and interest
pokok dan bunga dilakukan dengan payments is made by considering
mempertimbangkan persyaratan contractual terms, including whether
kontraktual, termasuk apakah aset financial assets contain contractual terms
keuangan mengandung persyaratan that can change the timing or amount of
kontraktual yang dapat mengubah waktu contractual cash flows.
atau jumlah arus kas kontraktual.
Dalam melakukan penilaian, Perusahaan In assessing, the Company considers:
mempertimbangkan:
Peristiwa kontinjensi yang akan Contingency events that will change the
mengubah waktu atau jumlah arus kas timing or amount of contractual cash
kontraktual; flow;
Fitur leverage; Leverage feature;
Persyaratan pembayaran dimuka dan Terms of advance payment and
perpanjangan kontraktual; contractual extension;
Persyaratan mengenai klaim yang Requirements regarding limited claims
terbatas atas arus kas yang berasal dari for cash flows from specific assets; and
aset spesifik; dan
Fitur yang dapat mengubah nilai waktu Features that can change the time value
dari elemen uang. of the money element.
Penilaian mengenai arus kas kontraktual Evaluation of contractual cash flows
yang diperoleh semata dari pembayaran obtained solely from payment of principal
pokok dan bunga and interest
Perusahaan mengklasifikasikan aset The Company classifies its financial assets
keuangannya berdasarkan kategori sebagai according to the following categories at initial
berikut pada saat pengakuan awal: recognition:
Aset keuangan yang diukur pada biaya Financial assets measured at amortized
perolehan diamortisasi; cost;
Aset keuangan yang diukur pada nilai Financial assets measured at fair value
wajar melalui penghasilan komprehensif through other comprehensive income;
lain;
Aset keuangan yang diukur pada nilai Financial assets measured at fair value
wajar melalui laba rugi. through profit or loss.
19
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Selama tahun berjalan dan pada tanggal During the year and at the date of statement
laporan posisi keuangan, Perusahaan of financial position, the Company only has
hanya memiliki aset keuangan yang diukur financial assets measured at amortized cost
pada biaya perolehan diamortisasi serta and hedging derivatives, therefore, the
derivatif lindung nilai sehingga kebijakan accounting policies other than the
akuntansi selain klasifikasi aset keuangan classifications of financial assets measured at
yang diukur pada biaya perolehan amortized cost and hedging derivatives are
diamortisasi serta derivatif lindung nilai tidak not disclosed.
diungkapkan.
Aset keuangan yang diukur pada biaya Financial assets measured at amortized cost
perolehan diamortisasi
Aset keuangan diukur pada biaya perolehan Financial assets are measured at amortized
diamortisasi jika memenuhi kondisi sebagai cost if they meet the following conditions:
berikut:
aset keuangan dikelola dalam model Financial assets are managed in a
bisnis yang bertujuan untuk memiliki aset business model that aims to have
keuangan dalam rangka mendapatkan financial assets in order to obtain
arus kas kontraktual; dan contractual cash flow; and
persyaratan kontraktual dari aset the contractual terms of the financial
keuangan tersebut memberikan hak asset provide rights on a certain date for
pada tanggal tertentu atas arus kas yang cash flow obtained solely from payment
diperoleh semata dari pembayaran of principal and interest (SPPI) on the
pokok dan bunga (SPPI) dari jumlah principal amount owed.
pokok terutang.
Pada saat pengakuan awal, aset keuangan Financial assets carried at amortized cost
yang diukur pada biaya perolehan are initially recognized at fair value plus
diamortisasi diakui pada nilai wajarnya transaction costs and administration income
ditambah biaya transaksi dan pendapatan and subsequently measured at amortized
administrasi dan selanjutnya diukur pada cost using the effective interest rate method.
biaya perolehan diamortisasi dengan
menggunakan suku bunga efektif.
Aset keuangan yang diukur pada biaya Financial assets carried at amortized cost
perolehan diamortisasi meliputi kas dan consist of cash and cash equivalents,
setara kas, piutang pembiayaan konsumen, consumer financing receivables, finance
piutang sewa pembiayaan, tagihan anjak lease receivables, factoring receivables,
piutang, piutang lain-lain dan aset lain-lain other receivables and other assets
(setoran jaminan). (guarantee deposit).
Pendapatan dari aset keuangan yang diukur Income from financial assets measured at
pada biaya perolehan diamortisasi dicatat amortized cost is included in the statement
dalam laporan laba rugi dan penghasilan of profit or loss and other comprehensive
komprehensif lain dan diakui sebagai income and is reported as “Consumer
“Pendapatan pembiayaan konsumen”, financing income”, “Finance lease income”
”Pendapatan sewa pembiayaan” dan and “Factoring income”.
“Pendapatan anjak piutang”.
20
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Dalam hal terjadi penurunan nilai, cadangan In the case of impairment, allowance for
kerugian penurunan nilai dilaporkan sebagai impairment losses is reported as a
pengurang dari nilai tercatat dari aset deduction from the carrying value of the
keuangan yang diukur pada biaya perolehan financial assets measured at amortized
diamortisasi, dan diakui di dalam laporan cost and recognized in the statement of
laba rugi dan penghasilan komprehensif lain profit or loss and other comprehensive
sebagai “Penyisihan kerugian penurunan income as “Provision for impairment
nilai”. losses”.
Aset keuangan yang diukur pada nilai wajar Financial assets measured at fair value
melalui laba rugi through profit or loss
Aset keuangan yang diukur pada nilai wajar Financial assets measured at fair value
melalui laba rugi termasuk aset keuangan through profit or loss include financial assets
untuk diperdagangkan dan aset keuangan held for trading and financial assets
yang ditetapkan pada saat pengakuan awal designated upon initial recognition at fair
untuk diukur pada nilai wajar melalui laba value through profit or loss.
rugi.
Aset derivatif diklasifikasikan sebagai Derivative assets are classified as held for
kelompok diperdagangkan kecuali mereka trading unless they are designated as
ditetapkan sebagai instrumen lindung nilai effective hedging instruments. Financial
efektif. Aset keuangan yang diukur pada nilai assets at fair value through profit or loss
wajar melalui laba rugi disajikan dalam are carried in the statement of financial
laporan posisi keuangan pada nilai wajar position at fair value with gains or losses
dengan keuntungan atau kerugian dari recognized in the profit or loss.
perubahan nilai wajar diakui dalam laba rugi.
Pengakuan Recognition
Perusahaan menggunakan akuntansi The Company uses settlement date
tanggal penyelesaian untuk kontrak reguler accounting for regular way contracts when
ketika mencatat transaksi aset keuangan. recording financial assets transactions.
Penurunan nilai dari aset keuangan Impairment of financial assets
Pada setiap tanggal pelaporan, Perusahaan At each reporting date, the Company
mengukur penyisihan kerugian penurunan measures the Allowance of impairment
nilai instrumen keuangan sejumlah kredit losses on financial instruments over their
ekspektasian sepanjang umurnya, jika risiko lifetime expectancy, if the credit risk of the
kredit atas instrumen keuangan tersebut financial instrument has increased
telah meningkat secara signifikan sejak significantly since initial recognition. If at
pengakuan awal. Jika pada tanggal the reporting date, the credit risk of the
pelaporan, risiko kredit atas instrumen financial instrument has not increased
keuangan tidak meningkat secara signifikan significantly since initial recognition, the
sejak pengakuan awal, Perusahaan Company measures the allowance of
mengukur penyisihan kerugian untuk impairment losses for the financial
instrumen keuangan tersebut sejumlah instrument in the amount of the expected
kerugian ekspektasian 12 bulan. Kerugian 12-month loss. The aforementioned losses
dimaksud merepresentasikan kerugian represent expected loan losses arising
kredit ekspektasian yang timbul dari from financial instrument defaults that may
peristiwa gagal bayar instrumen keuangan occur 12 months after the reporting date.
yang mungkin terjadi dalam 12 bulan setelah
tanggal pelaporan.
21
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Penurunan nilai dari aset keuangan Impairment of financial assets (continued)
(lanjutan)
Selanjutnya, Perusahaan mengelompokkan Furthermore, the Company classifies
aset keuangan berdasarkan hasil evaluasi financial assets based on the evaluation
tersebut yang mencerminkan tingkat risiko results which reflects the level of the credit
kredit aset keuangan. risk of financial assets.
a) Stage 1 a) Stage 1
Pada tanggal evaluasi penurunan nilai, At the evaluation date for impairment,
risiko kredit atas instrumen keuangan the credit risk for financial instruments
tidak meningkat secara signifikan sejak is not increased significantly since initial
pengakuan awal yang dapat dibuktikan recognition as evidenced by no overdue
dengan tidak terdapat tunggakan lebih of more than 10 days. For this reason,
dari 10 hari. Atas hal tersebut, the Company will measure the
Perusahaan akan mengukur penyisihan allowance for losses for the financial
kerugian untuk instrumen keuangan instrument in the amount of 12 months
tersebut sejumlah kerugian kredit expected credit losses.
ekspektasian 12 bulan.
Kerugian kredit ekspektasian 12 bulan The 12-month expected credit loss is
adalah bagian dari kerugian kredit part of the expected credit loss
ekspektasian sepanjang umurnya yang throughout its lifetime that represents
merepresentasikan kerugian kredit an expected credit loss arising from a
ekspektasian yang timbul dari peristiwa default events on financial instruments
gagal bayar instrumen keuangan yang that might occur 12 months after
mungkin terjadi dalam 12 bulan setelah reporting date.
tanggal pelaporan.
b) Stage 2 b) Stage 2
Pada tanggal evaluasi penurunan nilai, At the evaluation date of impairment,
risiko kredit atas instrumen keuangan credit risk on financial instruments has
telah meningkat secara signifikan sejak increased significantly since initial
pengakuan awal yang dapat dibuktikan recognition, which can be proven by the
dengan terdapat tunggakan antara overdue between 11 days and
11 hari sampai dengan 90 hari. Atas hal 90 days. For this reason, the Company
tersebut, Perusahaan akan mengukur will measure the allowance for losses
penyisihan kerugian untuk instrumen for these financial instruments at the
keuangan tersebut sejumlah kerugian amount of expected credit losses over
kredit ekspektasian sepanjang their lifetime.
umurnya.
c) Stage 3 c) Stage 3
Pada tanggal evaluasi penurunan nilai, At the evaluation date of impairment,
terdapat bukti objektif bahwa instrumen there is objective evidence that the
keuangan mengalami penurunan nilai financial instruments are impaired,
yang dapat dibuktikan dengan terdapat which can be proven by being in
tunggakan lebih dari 90 hari atau telah overdue of more than 90 days or motor
diserahkannya jaminan kendaraan milik vehicle collaterals owned by customers
konsumen untuk pelunasan piutang has been submitted for settlement of
pembiayaan. Atas hal tersebut, their financing receivables. For this
Perusahaan akan mengukur penyisihan reason, the Company will measure the
kerugian untuk instrumen keuangan allowance for losses for these financial
tersebut sejumlah kerugian kredit instruments at the amount of expected
ekspektasian sepanjang umurnya. credit losses over their lifetime.
22
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Penurunan nilai dari aset keuangan Impairment of financial assets (continued)
(lanjutan)
Tujuan dari persyaratan penurunan nilai The purpose of the impairment
adalah untuk mengakui kerugian kredit requirements is to recognize expected
ekspektasian sepanjang umurnya atas credit losses over the life of all financial
semua instrumen keuangan yang telah instruments that have experienced a
mengalami peningkatan risiko kredit secara significant increase in credit risk since initial
signifikan sejak pengakuan awal - baik recognition - whether assessed individually
dinilai secara individu atau kolektif - dengan or collectively - taking into account all
mempertimbangkan semua informasi yang reasonable and supported information,
wajar dan terdukung, termasuk informasi including estimated information future
yang bersifat perkiraan masa depan (forward-looking).
(forward-looking).
Perusahaan menerapkan persyaratan The Company applies an impairment
penurunan nilai untuk aset keuangan yang requirement for financial assets measured
diukur pada biaya perolehan diamortisasi at amortised cost and financial assets
dan aset keuangan yang diukur pada nilai measured at fair value through other
wajar melalui penghasilan komprehensif comprehensive income.
lain.
Dalam beberapa keadaan Perusahaan tidak In some circumstances the Company does
memiliki informasi yang wajar dan terdukung not have reasonable and supported
yang tersedia tanpa biaya atau upaya information available without fees or
berlebihan untuk mengukur kerugian kredit excessive efforts to measure expected
ekspektasian sepanjang umurnya pada credit losses throughout its life on individual
instrumen secara individual. Kerugian kredit instruments. Expected credit losses for the
ekspektasian sepanjang umurnya diakui entire lifetime are recognized collectively by
secara kolektif dengan mempertimbangkan considering comprehensive credit risk
informasi risiko kredit komprehensif. information. The comprehensive credit risk
Informasi risiko kredit komprehensif tersebut information must include not only arrears
harus memasukan tidak hanya informasi information but also all relevant credit
tunggakan tetapi juga seluruh informasi information, including forward-looking
kredit relevan, termasuk informasi macroeconomic information, to approach
makroekonomi forward-looking, untuk the outcome of recognizing expected credit
mendekati hasil dari pengakuan kerugian losses over the life of when there is a
kredit ekspektasian sepanjang umurnya significant increase in credit risk since initial
ketika terdapat kenaikan signifikan pada recognition at the level of individual
risiko kredit sejak pengakuan awal pada instruments.
level instrumen individu.
Cadangan kerugian penurunan nilai secara Allowance for impairment losses on
individual dihitung dengan menggunakan impaired financial assets that was
metode diskonto arus kas (discounted cash assessed individually is computed using
flows). Sedangkan cadangan kerugian discounted cash flows method. While
penurunan nilai secara kolektif dihitung allowance for impairment losses on
dengan menggunakan metode statistik dari impaired financial assets that was
data historis berupa Probability of Default di assessed collectively, the Company uses
masa lalu, waktu pengembalian dan jumlah statistical method of the historical data such
kerugian yang terjadi (Loss Given Default) as the Probability of Defaults, time of
yang selanjutnya disesuaikan lagi dengan recoveries, the amount of loss incurred
pertimbangan manajemen terkait kondisi (Loss Given Default), considering
ekonomi dan kredit saat ini. management’s judgment of current
economic and credit conditions.
23
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
i. Aset Keuangan (lanjutan) i. Financial Assets (continued)
Penurunan nilai dari aset keuangan Impairment of financial assets (continued)
(lanjutan)
Ketika suatu piutang tidak tertagih, piutang When a receivable is uncollectible, such
tersebut dihapus buku dengan menjurnal receivables written off against the related
balik cadangan kerugian penurunan nilai. allowance for impairment losses. Such
Piutang tersebut dapat dihapus buku setelah receivables are written off after all the
semua prosedur yang diperlukan telah necessary procedures have been
dilakukan dan jumlah kerugian telah completed and the amount of the loss has
ditentukan. Beban penurunan nilai yang been determined. Impairment charges
terkait dengan pinjaman yang diberikan dan relating to loans and receivables are
piutang diklasifikasikan ke dalam classified into “Allowance for impairment
“Cadangan kerugian penurunan nilai”. losses”.
Jika pada periode berikutnya, jumlah If in a subsequent period, the amount of the
kerugian penurunan nilai berkurang dan impairment loss decreases and the
pengurangan tersebut dapat dikaitkan decrease can be related objectively to an
secara obyektif pada peristiwa yang terjadi event occurring after the impairment was
setelah penurunan nilai diakui (seperti recognized (such as an improvement in the
meningkatnya peringkat piutang konsumen), customer’s receivable rating), the
maka kerugian penurunan nilai yang previously recognized impairment loss is
sebelumnya diakui harus dipulihkan, dengan reversed by adjusting the allowance for
menyesuaikan akun cadangan kerugian impairment losses. The amount of the
penurunan nilai. Jumlah pemulihan aset impairment reversal is recognized in the
keuangan diakui pada laporan laba rugi dan statement of profit or loss and other
penghasilan komprehensif lain. comprehensive income.
Penerimaan kemudian atas piutang yang Subsequent recoveries of receivable
telah dihapusbukukan, dikreditkan dengan written off are credited by adjusting the
menyesuaikan pada akun cadangan allowance for impairment losses account.
kerugian penurunan nilai.
Perusahaan menggunakan akuntansi The Company uses settlement date
tanggal penyelesaian ketika mencatat accounting when recording financial assets
transaksi aset keuangan. transactions.
ii. Liabilitas Keuangan ii. Financial Liabilities
Pengakuan dan Pengukuran Recognition and Measurement
Liabilitas keuangan Perusahaan The Company’s financial liabilities are
diklasifikasikan sebagai liabilitas keuangan classified as financial liabilities at fair value
yang diukur pada nilai wajar melalui laba through profit or loss, financial liabilities
atau rugi, liabilitas keuangan yang diukur measured at amortized cost or as derivative
pada biaya perolehan diamortisasi atau designated as hedging instruments in an
sebagai instrumen yang ditetapkan sebagai effective hedge as appropriate. The
instrumen lindung nilai yang efektif. Company determines the classification of
Perusahaan menentukan klasifikasi atas its financial liabilities at initial recognition.
liabilitas keuangan pada saat pengakuan The Company’s financial liabilities consist
awal. Liabilitas keuangan Perusahaan of bank loans, accrued expenses, other
terdiri dari utang bank, beban akrual, utang payables, and bonds payable, which are
lain-lain, dan utang obligasi yang classified as financial liabilities measured at
diklasifikasikan sebagai liabilitas keuangan amortized cost. The Company also has
yang diukur pada biaya perolehan derivative payables that are accounted for
diamortisasi. Perusahaan juga memiliki as effective hedge (Note 2d.vi).
utang derivatif yang diakui sebagai lindung
nilai yang efektif (Catatan 2d.vi).
24
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
ii. Liabilitas Keuangan (lanjutan) ii. Financial Liabilities (continued)
Liabilitas keuangan yang diukur pada Financial liabilities measured at amortized
biaya perolehan diamortisasi cost
Pada saat pengakuan awal, liabilitas Financial liabilities at amortized cost are
keuangan yang diukur pada biaya initially recognized at fair value less
perolehan diamortisasi diukur pada nilai transaction costs.
wajar dikurangi biaya transaksi.
Setelah pengakuan awal, Perusahaan After initial recognition, the Company
mengukur seluruh liabilitas keuangan yang measures all financial liabilities at amortized
diukur pada biaya perolehan diamortisasi cost using effective interest rate method.
dengan menggunakan metode suku bunga
efektif.
Liabilitas keuangan yang diukur pada Financial liabilities measured at amortized
biaya perolehan diamortisasi antara lain cost include other payables, accrued
utang lain-lain, beban akrual, pinjaman expenses, bank loans, and bonds payable.
bank, dan utang obligasi.
Liabilitas keuangan yang diukur pada nilai Financial liabilities measured at fair value
wajar melalui laba atau rugi through profit or loss
Liabilitas keuangan yang diukur pada nilai Financial liabilities measured at fair value
wajar melalui laba atau rugi mencakup through profit or loss include financial
liabilitas keuangan yang diklasifikasikan liabilities held for trading and financial
dalam kelompok diperdagangkan dan liabilities designated upon initial recognition at
liabilitas keuangan yang pada saat fair value through profit or loss.
pengakuan awalnya, telah ditetapkan,
diukur pada nilai wajar melalui laba atau
rugi.
Liabilitas keuangan diklasifikasikan dalam Financial liabilities are classified as held for
kelompok diperdagangkan jika diperoleh trading if these are incurred for the purpose of
atau dimiliki untuk tujuan dijual dalam waktu selling in the near term. Derivative liabilities
dekat. Liabilitas derivatif juga are also classified as held for trading unless
diklasifikasikan dalam kelompok these are designated as effective hedging
diperdagangkan kecuali derivatif yang instruments.
ditetapkan sebagai instrumen lindung nilai
yang efektif.
Laba atau rugi atas liabilitas keuangan Gains or losses on financial liabilities held for
dalam kelompok diperdagangkan harus trading are recognized in profit or loss.
diakui dalam laba rugi.
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
ii. Liabilitas Keuangan (lanjutan) ii. Financial Liabilities (continued)
Penghentian Pengakuan Derecognition
Penghentian pengakuan aset keuangan Financial assets are derecognized when the
dilakukan ketika hak kontraktual atas arus contractual rights to receive the cash flows
kas yang berasal dari aset keuangan from these financial assets have ceased to
tersebut berakhir, atau ketika aset exist or the assets have been transferred
keuangan tersebut telah ditransfer dan and substantially all the risks and rewards of
secara subtansial seluruh risiko dan ownership of the assets are also transferred
manfaat atas kepemilikan aset tersebut (if substantially all the risk and rewards were
telah ditransfer (jika secara substansial not transferred, the Company tests control
seluruh risiko dan manfaat tidak ditransfer, to ensure that continuing involvement on the
maka Perusahaan melakukan evaluasi basis of any retained powers of control does
untuk memastikan keterlibatan not prevent derecognition). Financial
berkelanjutan atas kendali yang masih liabilities are derecognized when they have
dimiliki tidak mencegah penghentian been redeemed or otherwise extinguished.
pengakuan). Liabilitas keuangan
dihentikan pengakuannya ketika liabilitas
telah dilepaskan atau dibatalkan atau
kadaluwarsa.
Penghentian pengakuan piutang Consumer financing receivables are
pembiayaan konsumen yang mengalami derecognized when the receivables have
penurunan nilai, akan dilakukan ketika been written off. Doubtful receivables are
piutang telah dihapusbukukan. Piutang written off when they have been overdue for
ragu-ragu akan dihapusbukukan setelah more than 180 days or determined to be not
menunggak lebih dari 180 hari atau pada collectible. The write-off of doubtful accounts
saat piutang tersebut diputuskan tidak does not eliminate the right to collect and
dapat tertagih. Penghapusbukuan piutang hence are still to be pursued for collection
ragu-ragu ini bukan merupakan hapus continuously. Consumer financing
tagih, sehingga upaya penagihan tetap receivables could be settled by selling the
dilakukan. Piutang pembiayaan konsumen motor vehicles that are financed by the
dapat diselesaikan dengan menjual Company.
kendaraan yang dibiayai Perusahaan.
Perusahaan menerima kendaraan dari The Company receives vehicles from
konsumen dan membantu untuk menjual customers and assist them in selling their
kendaraan tersebut sehingga konsumen motor vehicles so that the customers are
dapat melunasi utang pembiayaan able to settle their consumer financing
konsumennya. payables.
Konsumen memberi kuasa kepada The customers give the right to the
Perusahaan untuk menjual kendaraan Company to sell the vehicles or take any
ataupun melakukan tindakan lainnya other actions to settle the outstanding
dalam upaya penyelesaian piutang consumer financing receivables in the
pembiayaan konsumen bila terjadi events of default. Customers are entitled to
wanprestasi terhadap perjanjian the positive difference between the
pembiayaan. Konsumen berhak atas proceeds from sale of the motor vehicles
selisih lebih antara nilai penjualan dengan and the outstanding consumer financing
saldo piutang pembiayaan konsumen. Jika receivables. If difference is negative, the
terjadi selisih kurang, kerugian yang terjadi resulting loss is charged to the current year
dibebankan pada laporan laba rugi dan statement of profit or loss and other
penghasilan komprehensif lain tahun comprehensive income.
berjalan.
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
iii. Saling Hapus Instrumen Keuangan iii. Offsetting of Financial Instruments
Aset dan liabilitas keuangan saling hapus Financial assets and liabilities are offset
disajikan dalam laporan posisi keuangan and the net amount presented in the
jika memiliki hak yang berkekuatan hukum statement of financial position when there is
untuk melakukan saling hapus buku atas a legally enforceable right to offset the
jumlah yang telah diakui tersebut dan recognized amounts and there is intention
berniat untuk menyelesaikan secara neto to settle on a net basis or to realize the
atau untuk merealisasikan aset dan asset and settle the liability simultaneously.
menyelesaikan liabilitasnya secara This means that the right to set off:
simultan. Hak yang berkekuatan hukum
berarti:
a. tidak terdapat kontinjensi di masa yang a. must not be contigent on a future event,
akan datang, dan and
b. hak yang berkekuatan hukum pada b. must be legally enforceable in all of the
kondisi-kondisi berikut ini: following circumtances:
i. kegiatan bisnis normal; i. the normal course of business;
ii. kondisi kegagalan usaha; dan ii. the event of default; and
iii. kondisi gagal bayar atau iii. the event of insolvency or
bangkrut. bankruptcy.
iv. Klasifikasi instrumen keuangan iv. Classification of financial instruments
Perusahaan mengklasifikasikan instrumen The Company classified the financial
keuangan ke dalam klasifikasi tertentu instruments into classes that reflects the
yang mencerminkan sifat dari informasi nature of information and take into account
dan mempertimbangkan karakteristik dari the characteristics of those financial
instrumen keuangan tersebut. Klasifikasi ini instruments. The classifications are shown
dapat dilihat pada tabel berikut: in the table below:
Kategori yang didefinisikan
oleh PSAK No. 109/ Golongan (ditentukan oleh Perusahaan)/Class
Category as defined by PSAK No. 109 (as determined by the Company)
Kas dan setara kas/Cash and cash equivalents
- Kas/Cash on hand
- Kas pada bank/Cash in banks
- Deposito berjangka/Time deposit
Aset keuangan yang diukur pada
biaya perolehan yang Piutang pembiayaan konsumen/Consumer financing receivables
Aset Piutang sewa pembiayaan/Finance lease receivables
keuangan/ diamortisasi/Financial assets at
amortized cost Tagihan anjak piutang/Factoring receivables
Financial
assets Piutang lain-lain/Other receivables
Aset lain-lain/Other assets
- Setoran jaminan/Guarantee deposit
Derivatif lindung nilai/Hedging Lindung nilai atas nilai arus kas/Hedging instruments in cash flow hedges
derivatives - Piutang derivatif/Derivative receivables
Utang bank/Bank loans
Liabilitas keuangan yang diukur Beban akrual/Accrued expenses
Liabilitas dengan biaya perolehan Utang lain-lain/Other payables
keuangan/ diamortisasi/Financial liabilities at - Refinancing KPR/Refinancing of housing loan
Financial amortized cost - Pembiayaan bersama/Joint financing
liabilities Utang obligasi/Bonds payable
Derivatif lindung nilai/Hedging Lindung nilai atas nilai arus kas/Hedging instruments in cash flow hedges
derivatives - Utang Derivatif/Derivative payables
27
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
v. Biaya Perolehan Diamortisasi dari v. Amortized Cost of Financial
Instrumen Keuangan Instruments
Biaya perolehan yang diamortisasi diukur Amortized cost is computed using the
dengan menggunakan metode suku bunga effective interest rate method less any
efektif dikurangi penyisihan penurunan nilai allowance for impairment and principal
dan pembayaran atau pengurangan pokok. repayment or reduction. The calculation
Perhitungan ini mencakup seluruh premi takes into account any premium or
atau diskonto pada saat akuisisi dan discount on acquisition and includes
mencakup biaya transaksi serta komisi transaction costs and fees that are an
yang merupakan bagian tak terpisahkan integral part of the effective interest rate.
dari suku bunga efektif.
vi. Instrumen Keuangan Derivatif dan vi. Derivative Financial Instruments and
Akuntansi Lindung Nilai Hedge Accounting
Instrumen derivatif diakui pertama-tama Derivative instruments are initially
pada nilai wajar pada saat tanggal kontrak recognized at fair value on the date the
tersebut dilakukan, dan selanjutnya diukur contracts are entered into, and are
pada nilai wajarnya. Derivatif dicatat subsequently remeasured at their fair
sebagai aset apabila memiliki nilai wajar values. Derivatives are carried as assets
positif dan sebagai liabilitas apabila memiliki when the fair value is positive and as
nilai wajar negatif. liabilities when the fair value is negative.
Metode pengakuan keuntungan atau The method of recognizing the result of fair
kerugian dari perubahan nilai wajar value gain or loss depends on whether the
tergantung pada apakah derivatif tersebut derivative is designated as a hedging
adalah instrumen lindung nilai dan sifat dari instrument and, if so, the nature of the item
unsur yang dilindungi nilainya. being hedged.
Perusahaan menggunakan instrumen The Company uses derivative financial
keuangan derivatif, seperti cross currency instruments, such as cross currency swap
swap dan interest rate swap sebagai bagian and interest rate swap as part of its asset
dari aktivitas manajemen aset dan liabilitas and liability management activities to
untuk melindungi dampak risiko mata uang manage exposures to foreign currency and
asing dan risiko tingkat suku bunga. interest rate. The Company applied cash
Perusahaan menerapkan akuntansi lindung flow hedge accounting when the
nilai arus kas pada saat transaksi tersebut transactions meet the specified criteria for
memenuhi kriteria perlakuan akuntansi hedge accounting treatment.
lindung nilai.
Pada saat terjadinya transaksi, Perusahaan The Company records, at the inception of
membuat dokumentasi mengenai the transaction, the relationship between
hubungan antara instrumen lindung nilai hedging instruments and hedged items, as
dan unsur yang dilindungi nilainya, juga well as its risk management objective and
tujuan manajemen risiko dan strategi yang strategy for undertaking various hedge
diterapkan dalam melakukan berbagai transactions. This process includes linking
macam transaksi lindung nilai. Proses all derivatives designated as hedges to
dokumentasi ini menghubungkan derivatif specific assets and liabilities or to specific
yang ditujukan sebagai lindung nilai dengan firm commitments or forecast transactions.
aset dan liabilitas tertentu atau dengan
komitmen penuh tertentu atau transaksi
yang diperkirakan.
28
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
vi. Instrumen Keuangan Derivatif dan vi. Derivative Financial Instruments and
Akuntansi Lindung Nilai (lanjutan) Hedge Accounting (continued)
Pada saat terjadinya transaksi lindung nilai The Company also records its assessment,
dan pada periode berikutnya, Perusahaan both at the hedge inception and on an
juga membuat dokumentasi atas penilaian ongoing basis, as to whether the derivatives
apakah derivatif yang digunakan sebagai that are used in hedging transactions are
transaksi lindung nilai memiliki efektivitas highly effective in offsetting changes in fair
yang tinggi dalam menandingi (offsetting) values or cash flows of hedged items.
perubahan nilai wajar atau arus kas dari
unsur yang dilindungi nilainya.
Lindung nilai dinyatakan efektif oleh The Company regards a hedge as highly
Perusahaan hanya jika memenuhi kriteria effective only if the following criteria are met:
sebagai berikut:
i) pada saat terjadinya dan sepanjang i) at inception of the hedge and
umur transaksi lindung nilai memiliki throughout its life, the hedge is
efektivitas yang tinggi dalam expected to be highly effective in
menandingi (offsetting) perubahan nilai achieving offsetting changes in fair
wajar atau arus kas yang melekat pada value or cash flows attributable to the
risiko-risiko yang dilindungi nilainya, hedged risks, and
dan
ii) tingkat efektivitas lindung nilai berkisar ii) actual results of the hedge are within a
antara 80% hingga 125%. range of 80% to 125%. The Company
Perusahaan akan menghentikan discontinues hedge accounting when it
penerapan akuntansi lindung nilai determines that a derivative is not, or
ketika derivatif tersebut tidak atau has ceased to be, highly effective as a
tidak lagi efektif; ketika instrumen hedge; when the derivative expires or
lindung nilai kadaluwarsa atau dijual, is sold, terminated or exercised; when
dihentikan atau dibayar; pada saat the hedged item matures, is sold or
unsur yang dilindungi tersebut jatuh repaid; or when a forecast transactions
tempo, dijual atau dibayar kembali, are no longer deemed highly probable.
atau ketika transaksi yang
diperkirakan akan terjadi tidak lagi
diperkirakan akan terjadi.
Bagian yang efektif atas perubahan nilai The effective portion of changes in the fair
wajar derivatif yang ditujukan dan value of derivatives that are designated and
memenuhi kualifikasi sebagai lindung nilai qualify as cash flow hedge are recognized in
arus kas, diakui sebagai cadangan lindung equity under cash flow hedging reserve. The
nilai arus kas pada bagian ekuitas. gain or loss relating to the ineffective portion
Keuntungan atau kerugian atas bagian is recognized immediately in
yang tidak efektif diakui langsung pada the statement of profit or loss and other
laporan laba rugi dan penghasilan comprehensive income.
komprehensif lain.
Jumlah akumulasi keuntungan atau Amounts gain or loss accumulated in equity
kerugian dalam ekuitas dibebankan pada are recycled to the statement of profit or loss
laporan laba rugi dan penghasilan and other comprehensive income in the
komprehensif lain ketika unsur yang periods in which the hedged item will affect
dilindungi nilainya mempengaruhi laba net profit. When a hedging instrument
neto. Ketika instrumen lindung nilai expires or is sold, or when a hedge no longer
kadaluwarsa atau dijual, atau ketika suatu meets the criteria for hedge accounting, any
lindung nilai tidak lagi memenuhi cumulative gain or loss existing in equity at
persyaratan sebagai akuntansi lindung that time is charged in the statement of profit
nilai, akumulasi keuntungan maupun or loss and other comprehensive income.
kerugian yang ada pada ekuitas saat itu
dibebankan pada laporan laba rugi dan
penghasilan komprehensif lain.
Piutang derivatif dan utang derivatif The Company’s derivative receivables and
Perusahaan termasuk dalam kategori ini. derivative payables are included in this
category.
29
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
vii. Pengukuran Nilai Wajar vii. Fair Value Measurement
Nilai wajar adalah harga yang akan Fair value is the price that would be
diterima untuk menjual suatu aset atau received to sell an asset or paid to transfer
harga yang akan dibayar untuk a liability in an orderly transaction between
mengalihkan suatu liabilitas dalam market participants at the measurement
transaksi teratur antara pelaku pasar pada date. The fair value measurement is based
tanggal pengukuran. Pengukuran nilai on the presumption that the transaction to
wajar berdasarkan asumsi bahwa transaksi sell the asset or transfer the liability takes
untuk menjual aset atau mengalihkan place either:
liabilitas terjadi di:
pasar utama untuk aset dan liabilitas in the principal market for the asset or
tersebut, atau liability, or
jika terdapat pasar utama, di pasar in the absence of the principal market,
yang paling menguntungkan untuk in the most advantageous market for
aset atau liabilitas tersebut. the asset or liability.
Perusahaan harus memiliki akses ke pasar The principal or the most advantageous
utama atau pasar yang paling market must be accessible by the
menguntungkan tersebut harus dapat Company.
diakses oleh Perusahaan.
Nilai wajar aset dan liabilitas diukur The fair value of an asset or a liability is
menggunakan asumsi yang akan measured using the assumptions that
digunakan pelaku pasar ketika market participants would use when pricing
menentukan harga aset atau liabilitas the asset or liability, assuming that market
tersebut, dengan asumsi bahwa pelaku participants act in their economic best
pasar bertindak dalam kepentingan interest.
ekonomi terbaiknya.
Perusahaan menggunakan teknik The Company uses valuation techniques
penilaian yang sesuai dalam keadaan dan that are appropriate in the circumtances
dimana data yang memadai tersedia untuk and for which sufficient data are available
mengukur nilai wajar, memaksimalkan to measure fair value, maximising the use
penggunaan input dan meminimalkan yang of relevant observable inputs and
tidak dapat diobservasi. minimising the use of unobservable inputs.
Semua aset dan liabilitas yang nilai All assets and liabilities for which fair value
wajarnya diukur atau diungkapkan dalam is measured or disclosed in the financial
laporan keuangan dikategorikan dalam statements are categorized within the fair
hierarki nilai wajar, sebagaimana value hierarchy, described as follows,
dijelaskan di bawah ini, berdasarkan based on the lowest level input that is
tingkatan level input paling rendah yang significant to the fair value measurement as
signifikan terhadap pengukuran nilai wajar a whole:
secara keseluruhan:
Tingkat 1 - harga kuotasian (tanpa Level 1 - quoted prices (unadjusted) in
penyesuaian) di pasar aktif untuk aset active markets for identical assets or
atau liabilitas yang identik yang dapat liabilities that the entity can access at
diakses entitas pada tanggal the measurement date.
pengukuran.
Tingkat 2 - teknik penilaian yang Level 2 - valuation techniques for which
menggunakan tingkat masukan (input) the lowest level input that is significant
yang paling rendah yang signifikan to the fair value measurement is directly
terhadap pengukuran nilai wajar yang or indirectly observable.
dapat diamati (observable) baik
secara langsung atau tidak langsung.
30
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Instrumen Keuangan (lanjutan) d. Financial Instruments (continued)
vii. Pengukuran Nilai Wajar (lanjutan) vii. Fair Value Measurement (continued)
Semua aset dan liabilitas yang nilai All assets and liabilities for which fair value
wajarnya diukur atau diungkapkan dalam is measured or disclosed in the financial
laporan keuangan dikategorikan dalam statements are categorized within the fair
hierarki nilai wajar, sebagaimana value hierarchy, described as follows,
dijelaskan di bawah ini, berdasarkan based on the lowest level input that is
tingkatan level input paling rendah yang significant to the fair value measurement as
signifikan terhadap pengukuran nilai wajar a whole: (Continued)
secara keseluruhan: (Lanjutan)
Tingkat 3 - teknik penilaian yang Level 3 - valuation techniques for which
menggunakan tingkat masukan (input) the lowest level input that is significant
yang paling rendah yang signifikan to the fair value measurement is
terhadap pengukuran nilai wajar yang unobservable.
tidak dapat diamati (unobservable).
Untuk aset dan liabilitas yang diukur secara For assets and liabilities that are
berulang dalam laporan keuangan, recognized in the financial statements on a
Perusahaan menentukan apakah recurring basis, the Company determines
perpindahan antar level hirarki telah terjadi whether transfers have occured between
dengan melakukan evaluasi levels in hierarchy by re-assesing
pengelompokan (berdasarkan level input categorisation (based on the lowest level
yang terendah yang signifikan terhadap input that is significant to the fair value
pengukuran nilai wajar secara menyeluruh) measurement as a whole) at the end of
pada setiap akhir periode pelaporan. each reporting period.
e. Piutang Pembiayaan Konsumen e. Consumer Financing Receivables
Piutang pembiayaan konsumen merupakan Consumer financing receivables are presented
jumlah piutang setelah dikurangi pendapatan at net amounts of receivables after deducting
pembiayaan konsumen yang belum diakui dan unearned consumer financing income and
cadangan kerugian penurunan nilai piutang allowance for impairment losses on consumer
pembiayaan konsumen. financing receivables.
Berdasarkan perjanjian kerjasama pembiayaan Based on the consumer joint financing
bersama konsumen tanpa jaminan (without agreements (without recourse), the Company
recourse), Perusahaan hanya menyajikan porsi only presents the portion of the total
jumlah angsuran piutang yang dibiayai installments receivable financing by the
Perusahaan (pendekatan neto). Pendapatan Company (net approach). The consumer
pembiayaan konsumen disajikan setelah financing income is presented net of amounts
dikurangi dengan bagian yang merupakan hak of the banks’ rights on such income relating to
bank-bank dalam rangka transaksi tersebut. the transactions.
Untuk pembiayaan bersama dengan jaminan For joint financing with recourse, the consumer
(with recourse), piutang pembiayaan konsumen financing receivables represent all instalments
merupakan seluruh jumlah angsuran dari from customers where facilities financed by the
pelanggan sedangkan kredit yang disalurkan providers are recorded as a liability in the
oleh penyedia dana dicatat sebagai utang di statement of financial position (gross
laporan posisi keuangan (pendekatan bruto). approach). The interest which is charged to
Bunga yang dikenakan kepada pelanggan consumers are presented as part of consumer
dicatat sebagai bagian dari pendapatan financing income, while the interest charged by
pembiayaan konsumen, sedangkan bunga provider is recorded as a part of financing
yang dikenakan penyedia dana dicatat sebagai charges.
bagian dari beban pembiayaan.
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
e. Piutang Pembiayaan Konsumen (lanjutan) e. Consumer Financing Receivables
(continued)
Pendapatan pembiayaan konsumen yang Unearned income on consumer financing,
belum diakui, yang merupakan selisih antara which is the excess of the aggregate installment
jumlah keseluruhan pembayaran angsuran payments to be received from the consumers
yang akan diterima dari konsumen dengan over the principal amount financed, plus or
jumlah pokok pembiayaan konsumen, deducted with the financing process
ditambah atau dikurangi pendapatan atau biaya administration fees or expenses, is recognized
proses pembiayaan neto, akan diakui sebagai as income over the term of the respective
pendapatan sesuai dengan jangka waktu agreement using effective interest rate method.
kontrak pembiayaan konsumen berdasarkan
tingkat bunga efektif dari piutang pembiayaan
konsumen.
Pendapatan atau biaya proses pembiayaan The financing process administration fees or
adalah pendapatan administrasi proses expenses are financing administration income
pembiayaan dan biaya transaksi yang timbul and transaction expenses which are incurred at
pertama kali yang terkait langsung dengan the first time the financing agreement is signed
pembiayaan konsumen tersebut. Pelunasan and directly attributable to consumer financing.
sebelum masa pembiayaan konsumen berakhir Early terminations are treated as cancellation of
dianggap sebagai pembatalan perjanjian existing consumer finance contracts and the
pembiayaan konsumen dan laba yang timbul resulting gain is recognized in current year
diakui dalam operasi tahun berjalan. Untuk operations. For the Company’s policy on
kebijakan Perusahaan mengenai cadangan impairment losses, see Note 2d.
kerugian penurunan nilai, diungkapkan dalam
Catatan 2d.
Perusahaan tidak mengakui pendapatan The Company does not recognize consumer
pembiayaan konsumen yang piutangnya telah financing income on receivables that are
lewat jatuh tempo lebih dari tiga (3) bulan. overdue for more than three (3) months. The
Pendapatan bunga yang telah diakui selama interest income previously recognized during
tiga (3) bulan tetapi belum tertagih, dibatalkan the three (3) months but not yet collected is
pengakuannya. Pendapatan tersebut akan reversed against interest income. Such
diakui sebagai pendapatan pada saat income is recognized only when the overdue
pembayaran piutang diterima. receivable is collected.
Piutang dihapuskan pada saat piutang tersebut Receivables are written-off when they are
telah jatuh tempo lebih dari 180 hari dan overdue for more than 180 days and based on
berdasarkan kasus per kasus. Penerimaan review of individual case basis. The recoveries
kembali atas piutang yang telah dihapuskan of written-off receivables are recorded as other
dicatat sebagai pendapatan lain-lain. income.
f. Sewa f. Leases
Piutang sewa pembiayaan merupakan jumlah Finance lease receivables represent financing
piutang sewa pembiayaan ditambah nilai residu lease receivables plus the guaranteed residual
yang terjamin pada akhir masa sewa value at the end of the lease period and net of
pembiayaan dikurangi dengan pendapatan unearned finance lease income, security
sewa pembiayaan ditangguhkan, simpanan deposits and allowance for impairment losses.
jaminan dan cadangan kerugian penurunan The difference between the gross finance lease
nilai. Selisih antara nilai piutang sewa receivables and the present value of the finance
pembiayaan bruto dan nilai tunainya diakui lease receivable is recognized as unearned
sebagai pendapatan sewa pembiayaan yang finance lease income.
belum diakui.
32
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
f. Sewa (lanjutan) f. Leases (continued)
Pendapatan sewa pembiayaan yang Unearned finance lease income is recognized
ditangguhkan diakui sebagai pendapatan sewa as finance lease income based on a constant
pembiayaan berdasarkan suatu tingkat rate on the net investment using effective
pengembalian yang konstan atas investasi neto interest rates.
dengan menggunakan suku bunga efektif.
Berdasarkan PSAK No. 116 (Revisi 2014), Based on PSAK No. 116 (Revised 2014),
“Sewa”, penentuan apakah suatu perjanjian “Leases”, the determination of whether an
merupakan perjanjian sewa atau perjanjian arrangement is, or contains a lease is based on
yang mengandung sewa didasarkan atas the substance of the arrangement at inception
substansi perjanjian pada tanggal awal sewa date and whether the fulfillment of the
dan apakah pemenuhan perjanjian tergantung arrangement is dependent on the use of a
pada penggunaan suatu aset dan perjanjian specific asset and the arrangement conveys a
tersebut memberikan suatu hak untuk right to use the asset.
menggunakan aset tersebut.
Sewa yang mengalihkan secara substansial Leases that transfer substantially to the lessee
seluruh risiko dan manfaat yang terkait dengan all the risks and rewards incidental to ownership
kepemilikan aset, diklasifikasikan sebagai sewa of the leased item are classified as finance
pembiayaan. Selanjutnya, suatu sewa leases. Moreover, leases which do not transfer
diklasifikasikan sebagai sewa operasi, jika sewa substantially all the risks and rewards incidental
tidak mengalihkan secara substansial seluruh to ownership of the leased item are classified
risiko dan manfaat yang terkait dengan as operating leases.
kepemilikan aset.
Perusahaan sebagai lessor The Company as a lessor
Berdasarkan PSAK No. 116 (Revisi 2014), Based on PSAK No. 116 (Revised 2014),
“Sewa”, dalam sewa pembiayaan, Perusahaan “Leases”, under a finance lease, the Company
mengakui aset berupa piutang sewa recognizes assets held under a finance lease in
pembiayaan di laporan posisi keuangan its statement of financial position and presents
sebesar jumlah yang sama dengan piutang them as a receivable at an amount equal to the
sewa pembiayaan. Penerimaan piutang sewa finance lease receivables. Lease payment
diperlakukan sebagai pembayaran pokok dan receivable is treated as repayment of principal
pendapatan sewa. Pengakuan penghasilan and financing lease income. The recognition of
pembiayaan didasarkan pada suatu pola yang finance income is based on a pattern reflecting
mencerminkan suatu tingkat pengembalian a constant periodic rate of return on the
periodik yang konstan atas investasi neto Company’s net investment as lessor in the
Perusahaan sebagai lessor dalam sewa finance lease.
pembiayaan.
Dalam sewa menyewa biasa, Perusahaan Under an operating lease, the Company
mengakui aset untuk sewa operasi di laporan presents assets subject to operating leases in
posisi keuangan sesuai sifat aset tersebut. its statement of financial position according to
Biaya langsung awal sehubungan proses the nature of the asset. Initial direct costs
negosiasi sewa operasi ditambahkan ke jumlah incurred in negotiating an operating lease are
tercatat dari aset sewaan dan diakui sebagai added to the carrying amount of the leased
beban selama masa sewa dengan dasar yang asset and recognized over the lease term on
sama dengan pendapatan sewa. Rental the same basis as rental income. Contingent
kontinjen, apabila ada, diakui sebagai rents, if any, are recognized as revenue in the
pendapatan pada tahun terjadinya. Pendapatan periods in which they are earned. Lease
sewa operasi diakui sebagai pendapatan atas income from operating leases is recognized as
metode garis lurus selama masa sewa. income on a straight-line method over the
lease term.
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
g. Tagihan Anjak Piutang g. Factoring Receivables
Tagihan anjak piutang merupakan piutang yang Factoring receivables are receivables
dibeli dari perusahaan lain. Tagihan anjak purchased from other companies. These
piutang diklasifikasikan dalam kelompok factoring receivables are classified as loans
pinjaman yang diberikan dan piutang. and receivables. Recognition, initial
Pengakuan, pengukuran awal, pengukuran measurement, subsequent measurement,
setelah pengakuan awal, reklasifikasi, reclassification, impairment, derecognition and
penurunan nilai, penghentian pengakuan dan fair value of factoring receivables are referred
nilai wajar tagihan anjak piutang mengacu pada to Note 2d.
Catatan 2d.
h. Cadangan kerugian penurunan nilai h. Allowance for impairment losses
Perusahaan melakukan perhitungan cadangan The Company calculates the allowance for
kerugian penurunan nilai dengan menggunakan impairment losses using the “expected credit
metode kerugian kredit ekspektasian. Lihat losses” methodology. Refer to Note 2d.
Catatan 2d.
Pengukuran Kerugian Kredit Ekspektasian Measurement of Expected Credit Losses
Kerugian Kredit Ekspektasian adalah estimasi Expected Credit Loss is an estimate of the
probabilitas tertimbang dari kerugian kredit weighted probability of a credit loss measured
yang diukur sebagai berikut: as follows:
Aset keuangan yang tidak memburuk pada Financial assets that do not deteriorate at
tanggal pelaporan, kerugian kredit the reporting date, the expected credit loss
ekspektasian diukur sebesar selisih antara is measured at the difference between the
nilai kini dari seluruh kekurangan kas (yaitu present value of all cash shortages (i.e. the
selisih antara arus kas yang terutang difference between the cash flows owed to
kepada Perusahaan sesuai dengan kontrak the Company in accordance with the
dan arus kas yang diperkirakan akan contract and the cash flows expected to be
diterima oleh Perusahaan); received by the Company);
Aset keuangan yang memburuk pada Financial assets that deteriorate at the
tanggal pelaporan, kerugian kredit reporting date, the expected credit loss is
ekspektasian diukur sebesar selisih antara measured at the difference between the
jumlah tercatat bruto dan nilai kini arus kas gross carrying amount and the present value
masa depan yang diestimasi. of estimated future cash flows.
Perusahaan melakukan perhitungan cadangan The Company calculates the allowance for
kerugian penurunan nilai dengan menggunakan impairment losses using the “incurred losses”
metode “incurred losses” (Catatan 2d). methodology (Note 2d).
i. Biaya dibayar di muka i. Prepaid expenses
Biaya dibayar di muka yang terutama terdiri dari Prepaid expenses mainly consisting of prepaid
sewa dan asuransi dibayar di muka dibebankan rent and insurance are charged to operations
pada operasi selama masa manfaat masing- over the periods benefited.
masing beban yang bersangkutan.
34
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Aset tetap, aset hak guna dan liabilitas sewa j. Fixed assets, right-of-use assets and lease
liabilities
Aset tetap Fixed assets
Aset tetap dinyatakan sebesar biaya perolehan Fixed assets are stated at acquisition cost less
dikurangi akumulasi penyusutan (kecuali tanah accumulated depreciation (except for land
tidak disusutkan) dan kerugian penurunan nilai. which is not depreciated) and impairment
Biaya perolehan termasuk biaya penggantian losses. Such acquisition cost includes the cost
bagian aset tetap saat biaya tersebut terjadi, of replacing part of the fixed assets when that
jika memenuhi kriteria pengakuan. Selanjutnya, cost is incurred, if the recognition criteria are
pada saat inspeksi utama dilakukan, beban itu met. Likewise, when a major inspection is
diakui ke dalam jumlah tercatat aset tetap performed, its cost is recognized in the carrying
sebagai penggantian jika memenuhi kriteria amount of the fixed assets as a replacement if
pengakuan. the recognition criteria are satisfied.
Subsequent to initial recognition, these assets
Setelah pengakuan awal, aset ini dinyatakan are carried at cost less any subsequent
pada biaya perolehan dikurangi akumulasi accumulated depreciation and impairment
penyusutan dan kerugian penurunan nilai. losses.
Jumlah tercatat aset ini direviu atas penurunan The carrying amounts of these assets are
nilai jika terdapat peristiwa atau perubahan reviewed for impairment when events or
keadaan yang mengindikasikan bahwa jumlah changes in circumstances indicate that their
tercatat mungkin tidak dapat seluruhnya carrying values may not be fully recoverable.
terealisasi.
Semua beban pemeliharaan dan perbaikan All other repairs and maintenance costs that do
yang tidak memenuhi kriteria pengakuan diakui not meet the recognition criteria are recognized
sebagai laporan laba rugi dan penghasilan in the statement of profit or loss and other
komprehensif lain pada saat terjadinya. comprehensive income as incurred.
Penyusutan dihitung dengan menggunakan Depreciation is calculated on a straight-line
metode garis lurus selama umur manfaat aset method over the estimated useful lives of the
tetap yang diestimasi sebagai berikut: assets as follows:
Persentase/
Tahun/Years Percentage
Bangunan 20 5% Buildings
Kendaraan 5 20% Vehicles
Office equipment,
Peralatan dan perlengkapan kantor 5 20% furniture and fixtures
Pengembangan gedung yang disewa 1-5 10-20% Leasehold improvements
Jumlah tercatat aset tetap dihentikan An item of fixed assets is derecognized upon
pengakuannya pada saat dilepaskan atau saat disposal or when no future economic benefits
tidak ada manfaat ekonomis masa depan yang are expected from its use or disposal. Any gain
diharapkan dari penggunaan atau or loss arising on derecognition of the asset
pelepasannya. Laba atau rugi yang timbul dari (calculated as the difference between the net
penghentian pengakuan aset (dihitung sebagai disposal proceeds and the carrying amount of
perbedaan antara jumlah neto hasil pelepasan the asset) is included in the statement of profit
dan jumlah tercatat dari aset) diakui pada or loss and other comprehensive income in the
laporan laba rugi dan penghasilan year the asset is derecognized.
komprehensif lain pada tahun aset tersebut
dihentikan pengakuannya.
35
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Aset tetap, aset hak guna dan liabilitas sewa j. Fixed assets, right-of-use assets and
(lanjutan) lease liabilities (continued)
Aset tetap (lanjutan) Fixed assets (continued)
Nilai residu, umur manfaat, dan metode The residual values, useful lives and
penyusutan aset tetap dievaluasi setiap akhir depreciation method of fixed assets are
pelaporan dan disesuaikan secara prospektif reviewed at the end of each reporting year and
jika dipandang perlu. adjusted prospectively, if necessary.
Tanah termasuk biaya pengurusan legal hak Land, including legal cost of land rights in the
atas tanah dalam bentuk Hak Guna Usaha form of Right to Cultivate (“Hak Guna Usaha” or
(“HGU”), Hak Guna Bangunan (“HGB”) dan Hak “HGU”), Right to Build (“Hak Guna Bangunan”
Pakai (“HP”) ketika tanah diperoleh pertama kali or “HGB”) and Right to Use (“Hak Pakai” or
dinyatakan sebesar biaya perolehan dan tidak “HP”) when the land rights were acquired
diamortisasi karena manajemen berpendapat initially, is stated at cost and not amortized as
bahwa kemungkinan besar hak atas tanah the management is of the opinion that it is
tersebut dapat diperbaharui/diperpanjang pada probable the titles of land rights can be
saat masa berlakunya selesai. renewed/extended upon expiration.
Aset hak guna dan liabilitas sewa Right-of-use assets and lease liabilities
Perusahaan menilai pada saat insepsi kontrak The Company assesses at contract inception
apabila kontrak tersebut adalah, atau whether a contract is, or contains, a lease. That
mengandung, sewa. Yaitu, bila kontrak tersebut is, if the contract conveys the right to control the
memberikan hak untuk mengendalikan use of an identified asset for a period of time in
penggunaan aset identifikasian selama suatu exchange for consideration.
jangka waktu untuk dipertukarkan dengan
imbalan.
Perusahaan sebagai Penyewa The Company as Lessee
Perusahaan menerapkan pendekatan The Company applies a single recognition and
pengakuan dan pengukuran tunggal untuk measurement approach for all leases, except
semua sewa, kecuali untuk sewa jangka- for short-term leases and leases of low-value
pendek dan sewa yang aset pendasarnya assets. The Company recognizes lease
bernilai-rendah. Perusahaan mengakui liabilitas liabilities to make lease payments and right-of-
sewa untuk melakukan pembayaran sewa dan use assets representing the right to use the
aset hak-guna yang mewakili hak untuk underlying assets.
menggunakan aset pendasar.
Aset hak-guna Right-of-use assets
Perusahaan mengakui aset hak-guna pada The Company recognizes right-of-use assets at
tanggal permulaan sewa (yaitu tanggal aset the commencement date of the lease (i.e., the
pendasar tersedia untuk digunakan). Aset hak- date the underlying asset is available for use).
guna diukur pada harga perolehan, dikurangi Right-of-use assets are measured at cost, less
akumulasi penyusutan dan penurunan nilai, serta any accumulated depreciation and impairment
disesuaikan dengan pengukuran kembali losses, and adjusted for any remeasurement of
liabilitas sewa. Biaya perolehan aset hak-guna lease liabilities. The cost of right-of-use assets
mencakup jumlah liabilitas sewa yang diakui, includes the amount of lease liabilities
biaya langsung awal yang terjadi, dan recognized, initial direct costs incurred, and
pembayaran sewa yang dilakukan pada atau lease payments made at or before the
sebelum tanggal permulaan dikurangi setiap commencement date less any lease incentives
insentif sewa yang diterima. Aset hak-guna received. Right-of-use assets are depreciated
disusutkan dengan metode garis lurus selama on a straight-line basis over the lease term.
masa sewa.
36
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Aset tetap, aset hak guna dan liabilitas sewa j. Fixed assets, right-of-use assets and
(lanjutan) lease liabilities (continued)
Aset hak-guna (lanjutan) Right-of-use assets (continued)
Jika kepemilikan aset pendasar sewa beralih ke If ownership of the leased asset transfers to the
Perusahaan pada akhir masa sewa atau biaya Company at the end of the lease term or the cost
perolehan aset hak-guna merefleksikan reflects the exercise of a purchase option,
Perusahaan akan mengeksekusi opsi beli, maka depreciation is calculated using the estimated
penyusutan aset hak-guna dihitung menggunakan useful life of the asset.
estimasi masa manfaat aset.
Liabilitas sewa Lease liabilities
Pada tanggal permulaan sewa, Perusahaan At the commencement date of the lease, the
mengakui liabilitas sewa yang diukur pada nilai Company recognizes lease liabilities measured
kini pembayaran sewa yang harus dilakukan at the present value of lease payments to be
selama masa sewa. made over the lease term.
Pembayaran sewa juga mencakup harga The lease payments also include the exercise
pelaksanaan dari opsi beli yang secara wajar price of a purchase option reasonably certain to
pasti dilaksanakan oleh Perusahaan dan be exercised by the Company and payments of
pembayaran pinalti untuk mengakhiri sewa, jika penalties for terminating the lease, if the lease
masa sewa merefleksikan adanya opsi dapat term reflects exercising the option to terminate.
mengakhiri sewa. Pembayaran sewa variabel Variable lease payments that do not depend on
yang tidak bergantung pada indeks atau tarif an index or a rate are recognized as expenses
diakui sebagai beban pada periode terjadinya in the period in which the event or condition that
peristiwa atau kondisi yang memicu terjadinya triggers the payment occurs.
pembayaran tersebut.
Dalam menghitung nilai kini pembayaran sewa, In calculating the present value of lease
Perusahaan menggunakan Suku Bunga payments, the Company uses its Incremental
Pinjaman Inkremental (“SBPI”) pada tanggal Borrowing Rate (“IBR”) at the lease
permulaan sewa karena suku bunga implisit commencement date because the interest rate
dalam sewa tidak dapat langsung ditentukan. implicit in the lease is not readily determinable.
Setelah tanggal permulaan, jumlah kewajiban After the commencement date, the amount of
sewa ditingkatkan untuk mencerminkan akresi lease liabilities is increased to reflect the
bunga (atas efek diskonto) dan dikurangi untuk accretion of interest and reduced for the lease
pembayaran sewa yang dilakukan. Selain itu, payments made. In addition, the carrying
nilai tercatat liabilitas sewa diukur kembali jika amount of lease liabilities is remeasured if there
terdapat modifikasi, perubahan masa sewa, is a modification, a change in the lease term, a
perubahan pembayaran sewa, atau perubahan change in the lease payments or a change in the
penilaian atas opsi untuk membeli aset assessment of an option to purchase the
pendasar. underlying asset.
Sewa jangka pendek dan sewa dengan aset Short-term leases and leases of low-value
bernilai rendah assets
Perusahaan menerapkan pengecualian The Company applies the short-term lease
pengakuan sewa jangka pendek untuk sewa recognition exemption to its short-term leases
yang jangka waktu sewanya pendek (yaitu, (i.e., those leases that have a lease term of
sewa yang memiliki jangka waktu sewa 12 months or less from the commencement date
12 bulan atau kurang dari tanggal permulaan and do not contain a purchase option). The
dan tidak memiliki opsi beli). Perusahaan juga Company also applies the lease of low-value
menerapkan pengecualian pengakuan sewa assets recognition exemption to leases that are
dengan aset bernilai rendah untuk sewa yang considered to be low value. Lease payments on
aset pendasarnya dianggap bernilai rendah. short-term leases and leases of low-value
Pembayaran sewa untuk sewa jangka pendek underlying assets are recognized as expense on
dan sewa dari aset bernilai rendah diakui a straight-line basis over the lease term.
sebagai beban dengan metode garis lurus
selama masa sewa.
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Aset tetap, aset hak guna dan liabilitas sewa j. Fixed assets, right-of-use assets and
(lanjutan) lease liabilities (continue)
Perusahaan sebagai Pesewa The Company as Lessor
Sewa yang dalam pengaturannya Perusahaan Leases in which the Company does not transfer
tidak mengalihkan secara substansial seluruh substantially all the risks and rewards incidental
risiko dan manfaat yang terkait dengan to ownership of an asset are classified as
kepemilikan suatu aset diklasifikasikan sebagai operating leases. Lease income arising is
sewa operasi. Pendapatan sewa yang timbul accounted for on a straight-line basis over the
dicatat dengan metode garis lurus selama masa lease terms and is included in other operating
sewa dan diakui sebagai bagian dari pendapatan income in the profit or loss due to its operating
usaha pada laba rugi karena sifatnya. Biaya nature. Initial direct costs incurred in negotiating
langsung awal yang terjadi dalam negosiasi dan and arranging an operating lease are added to
pengaturan sewa operasi ditambahkan ke jumlah the carrying amount of the leased asset and
tercatat dari aset sewaan dan diakui selama recognized over the lease term on the same
masa sewa atas dasar yang sama dengan basis as lease income. Contingent rent are
pendapatan sewa. Sewa kontijensi diakui recognized as revenue in the period in which
sebagai pendapatan pada periode dimana sewa they are earned.
kontijensi tersebut diperoleh.
k. Piutang dari Jaminan Aset yang Dibiayai k. Receivable from Collateral of Financed Asset
Piutang dari jaminan aset yang dibiayai Receivable from collateral of financed asset are
dinyatakan berdasarkan nilai terendah antara stated at the lower of related consumer financing
nilai tercatat piutang pembiayaan konsumen dan and finance lease receivables’ carrying value or
sewa pembiayaan terkait atau nilai realisasi neto net realizable value of collateral of financed
dari jaminan aset yang dibiayai tersebut. Selisih asset. The difference between the carrying value
antara nilai tercatat dan nilai realisasi neto and the net realizable value is recorded as part
dicatat sebagai bagian dari penyisihan kerugian of allowance for impairment losses. The provision
penurunan nilai. Penyisihan kerugian penurunan for impairment losses on collateral of financed
nilai atas jaminan aset yang dibiayai dibebankan asset is charged to the current year statement of
pada laporan laba rugi dan penghasilan profit or loss and other comprehensive income.
komprehensif lain tahun berjalan.
Konsumen memberi kuasa kepada Perusahaan In case of default, the consumers give the right to
untuk menjual aset yang dibiayai yang the Company to sell the collateral of financed
dijaminkan ataupun melakukan tindakan lainnya asset or take any other actions to settle the
dalam upaya penyelesaian piutang pembiayaan outstanding receivables. Consumers are entitled
bila terjadi wanprestasi terhadap perjanjian to the positive differences between the proceeds
pembiayaan. Konsumen berhak atas selisih from sales of collateral of financed asset and the
lebih antara nilai penjualan aset yang dibiayai outstanding financing receivables. If the
yang dijaminkan dengan saldo piutang differences are negative, the resulting losses are
pembiayaan. Jika terjadi selisih kurang, kerugian charged to the current year statement of profit or
yang terjadi dibebankan pada laporan laba rugi loss and other comprehensive income.
dan penghasilan komprehensif lain tahun
berjalan.
38
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
l. Biaya Emisi Obligasi l. Bonds Issuance Costs
Biaya-biaya yang terjadi sehubungan dengan Costs incurred in connection with the issuance
penerbitan obligasi ditangguhkan dan of bonds are deferred and are being amortized
diamortisasi dengan menggunakan metode using the effective interest rate method over the
suku bunga efektif selama jangka waktu term of the bonds.
obligasi.
Saldo biaya emisi obligasi ditangguhkan dicatat The balance of deferred bonds issuance costs
sebagai pengurang terhadap masing-masing is presented as a deduction from the
saldo utang obligasi. outstanding bonds.
m. Pengakuan Pendapatan dan Beban m. Revenue and Expense Recognition
Pendapatan pembiayaan konsumen, Consumer financing income, finance lease
pendapatan sewa pembiayaan, pendapatan income, factoring income, interest income, and
anjak piutang, pendapatan bunga, dan beban interest expense are recognized using the
bunga diakui dengan menggunakan metode effective interest method.
suku bunga efektif.
Suku bunga efektif adalah suku bunga yang The effective interest rate is the rate that exactly
secara tepat mendiskontokan estimasi discounts the estimated future cash payments
pembayaran dan penerimaan kas di masa and receipts through the expected life of the
datang selama perkiraan umur dari aset financial asset or financial liability (or, where
keuangan atau liabilitas keuangan (atau, jika appropriate, a shorter period) to the carrying
lebih tepat, digunakan periode yang lebih amount of the financial asset or financial
singkat) untuk memperoleh nilai tercatat dari liability.
aset keuangan atau liabilitas keuangan.
Pada saat menghitung suku bunga efektif, When calculating the effective interest rate, the
Perusahaan mengestimasi arus kas di masa Company estimates future cash flows
datang dengan mempertimbangkan seluruh considering all contractual terms of the financial
persyaratan kontraktual dalam instrumen instrument, but not future credit losses.
keuangan tersebut, tetapi tidak
mempertimbangkan kerugian di masa
mendatang.
The calculation of the effective interest rate
Perhitungan suku bunga efektif mencakup includes all fees and points paid or received that
seluruh tagihan dan bentuk lain yang are an integral part of the effective interest rate,
dibayarkan atau diterima yang merupakan including transaction costs.
bagian tak terpisahkan dari suku bunga efektif,
termasuk biaya transaksi.
Pendapatan denda atas keterlambatan Late charges income arising from late
pembayaran angsuran pembiayaan konsumen payments of consumer financing and finance
dan sewa pembiayaan diakui pada saat lease installments is recognized when realized.
realisasi.
Pelunasan sebelum masa pembiayaan Early termination is treated as cancellation of
konsumen dan sewa pembiayaan berakhir existing agreement and the resulting gain or
dianggap sebagai suatu pembatalan kontrak loss is recognized as profit or loss for the
pembiayaan konsumen dan sewa pembiayaan current year.
dan laba atau rugi yang timbul, diakui sebagai
laba rugi tahun berjalan.
39
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
m. Pengakuan Pendapatan dan Beban m. Revenue and Expense Recognition
(lanjutan) (continued)
Perusahaan mengakui pendapatan atas The Company recognizes consumer financing,
pembiayaan konsumen, sewa pembiayaan dan finance lease and factoring income as
tagihan anjak piutang sebagaimana dijelaskan explained in Notes 2e, 2f, and 2g. Other income
pada Catatan 2e, 2f dan 2g. Pendapatan and expenses are recognized when these are
lainnya dan beban diakui pada saat terjadinya incurred on an accrual basis.
menggunakan basis akrual.
n. Transaksi dan Saldo dalam Mata Uang Asing n. Foreign Currency Transactions and
Balances
Transaksi dalam mata uang asing dicatat Transactions involving foreign currencies are
berdasarkan kurs yang berlaku pada saat recorded at the rates of exchange prevailing at
transaksi dilakukan. Pada tanggal laporan the time the transactions are made.
posisi keuangan, aset, dan liabilitas moneter At statement of financial position date,
dalam mata uang asing dijabarkan ke dalam monetary assets, and liabilities denominated in
Rupiah berdasarkan kurs tengah Bank foreign currencies are adjusted to Rupiah to
Indonesia yang berlaku pada tanggal tersebut. reflect the prevailing rates of exchange at such
Laba atau rugi kurs yang terjadi dikreditkan atau date as published by Bank Indonesia. The
dibebankan pada operasi tahun berjalan. resulting gains or losses are credited or
charged to current operations.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the rates
kurs yang digunakan adalah sebagai berikut: of exchange used are as follows:
31 Desember/December 31
2024 2023
1 Dolar AS/Rupiah 16.162 15.416 US Dollar 1/Rupiah
o. Perpajakan o. Taxation
Pajak Final Final Tax
Peraturan perpajakan di Indonesia mengatur Tax regulation in Indonesia determined that
beberapa jenis penghasilan dikenakan pajak certain taxable income is subject to final tax.
yang bersifat final. Pajak final yang dikenakan Final tax applied to the gross value of
atas nilai bruto transaksi tetap dikenakan transactions is applied even when the parties
walaupun atas transaksi tersebut pelaku carrying the transactions are recognizing
transaksi mengalami kerugian. losses.
Pajak final tersebut tidak termasuk dalam Final tax is no longer governed by
lingkup yang diatur oleh PSAK No. 212, “Pajak PSAK No. 212, “Income Taxes”. Therefore, the
Penghasilan”. Oleh karena itu, Perusahaan Company has decided to present all of the final
memutuskan untuk menyajikan beban pajak tax arising from interest and rent income in a
final sehubungan dengan penghasilan bunga separate line item.
dan sewa sebagai pos tersendiri.
Pajak Kini Current Tax
Pajak kini untuk tahun berjalan diukur sebesar Current income tax for the current year are
jumlah yang diharapkan dapat direstitusi dari measured at the amount expected to be
atau dibayarkan kepada otoritas perpajakan. recovered from or paid to the taxation authority.
Tarif pajak dan peraturan pajak yang digunakan The tax rates and tax laws used to compute the
untuk menghitung jumlah tersebut adalah yang amount are those that have been enacted or
berlaku atau secara substantif telah berlaku substantively enacted as at the reporting date.
pada tanggal pelaporan.
40
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
o. Perpajakan (lanjutan) o. Taxation (continued)
Pajak Kini (lanjutan) Current Tax (continued)
Penghasilan kena pajak berbeda dengan laba Taxable profit differs from profit as reported in
yang dilaporkan dalam laporan laba rugi dan the statement of profit or loss and other
penghasilan komprehensif lain karena comprehensive income because it excludes
penghasilan kena pajak tidak termasuk bagian items of income or expense that are taxable or
dari pendapatan atau beban yang dikenakan deductible in other years and it further excludes
pajak atau dikurangkan di tahun-tahun yang items that are neither taxable nor deductible.
berbeda, dan juga tidak termasuk bagian-
bagian yang tidak dikenakan pajak atau tidak
dapat dikurangkan.
Perubahan terhadap liabilitas perpajakan diakui Amendments to tax obligations are recorded
pada saat Surat Ketetapan Pajak (SKP) when Tax Assessment Letter (SKP) is received
diterima atau, jika Perusahaan mengajukan or, if appealed against by the Company, when
keberatan, pada saat keputusan atas keberatan the result of the appeal is determined.
tersebut telah ditetapkan.
Pajak Tangguhan Deferred Tax
Aset dan liabilitas pajak tangguhan diakui Deferred tax assets and liabilities are
menggunakan metode posisi keuangan atas recognized using the financial position method
konsekuensi pajak pada masa mendatang yang for the future tax consequences attributable to
timbul dari perbedaan jumlah tercatat aset dan differences between the carrying amounts of
liabilitas menurut laporan keuangan dengan existing assets and liabilities in the financial
dasar pengenaan pajak aset dan liabilitas pada statements and their respective tax bases at
setiap tanggal pelaporan. Liabilitas pajak each reporting date. Deferred tax liabilities are
tangguhan diakui untuk semua perbedaan recognized for all taxable temporary differences
temporer kena pajak dan aset pajak tangguhan and deferred tax assets are recognized for
diakui untuk perbedaan temporer yang boleh deductible temporary differences and
dikurangkan dan akumulasi rugi fiskal, accumulated fiscal losses to the extent that it is
sepanjang besar kemungkinan perbedaan probable that taxable profit will be available in
temporer yang boleh dikurangkan dan future years against which the deductible
akumulasi rugi fiskal tersebut dapat temporary differences and accumulated fiscal
dimanfaatkan untuk mengurangi laba kena losses can be utilized.
pajak pada masa depan.
Nilai tercatat aset pajak tangguhan ditelaah The carrying amount of a deferred tax asset is
pada setiap tanggal pelaporan dan nilai tercatat reviewed at each reporting date and reduced to
aset pajak tangguhan tersebut diturunkan the extent that it is no longer probable that
apabila laba fiskal mungkin tidak memadai sufficient taxable profit will be available to allow
untuk mengkompensasi sebagian atau semua all or part of the benefit of that deferred tax
manfaat aset pajak tangguhan. Pada setiap asset to be utilized. At each reporting date, the
tanggal pelaporan, Perusahaan menilai kembali Company reassesses unrecognized deferred
aset pajak tangguhan yang tidak diakui. tax assets. The Company recognizes a
Perusahaan mengakui aset pajak tangguhan previously unrecognized deferred tax asset to
yang sebelumnya tidak diakui apabila besar the extent that it has become probable that
kemungkinan bahwa laba fiskal pada masa future taxable profit will allow the deferred tax
yang akan datang akan tersedia untuk assets to be recovered.
pemulihannya.
41
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Page 240
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
o. Perpajakan (lanjutan) o. Taxation (continued)
Pajak Tangguhan (lanjutan) Deferred Tax (continued)
Aset dan liabilitas pajak tangguhan diukur Deferred tax assets and liabilities are measured
dengan menggunakan tarif pajak yang at the tax rates that are expected to apply to the
diharapkan akan berlaku pada tahun saat aset year when the asset is realized or the liability is
dipulihkan atau liabilitas diselesaikan settled, based on tax rates and tax laws that
berdasarkan tarif pajak dan peraturan pajak have been enacted or substantively enacted as
yang berlaku atau yang secara substantif telah at the reporting date.
berlaku pada tanggal pelaporan.
Aset dan liabilitas pajak tangguhan disajikan Deferred tax assets and liabilities are offset in
secara saling hapus dalam laporan posisi the statement of financial position, consistent
keuangan, sesuai dengan penyajian aset dan with the presentation of current tax assets and
liabilitas pajak kini. liabilities.
p. Segmen operasi p. Operating segment
Segmen operasi adalah suatu komponen dari An operating segment is a component of the
entitas yang terlibat dalam aktivitas bisnis yang entity that engages in business activities from
mana memperoleh pendapatan dan which it may earn revenues and incur
menimbulkan beban, termasuk pendapatan expenses, including revenues and expenses
dan beban terkait dengan transaksi dengan that relate to transactions with any of the entity’s
komponen lain dari entitas yang sama, yang components, whose operating results are
hasil operasinya dikaji ulang secara berkala reviewed regularly by the chief operating
oleh pengambil keputusan operasional untuk decision maker to make decisions about
membuat keputusan tentang sumber daya yang resources allocated to the segment and assess
dialokasikan pada segmen tersebut dan menilai its performance, and for which discrete financial
kinerjanya, dan tersedia informasi keuangan information is available. Segment results that
yang dapat dipisahkan. Hasil segmen yang are reported to the chief operating decision
dilaporkan kepada pengambil keputusan maker include items directly attributable to a
operasional termasuk item yang dapat segment as well as those that can be allocated
diatribusikan secara langsung kepada segmen on a reasonable basis.
dan juga yang dapat dialokasikan dengan basis
yang wajar.
Perusahaan mengelola kegiatan usahanya dan The Company manages its business activities
mengidentifikasi segmen yang dilaporkan and identifies its segments reported based on
berdasarkan wilayah geografis. geographic area.
Perusahaan menentukan dan menyajikan The Company determines and presents
segmen operasi berdasarkan informasi yang operating segments based on the information
secara internal diberikan kepada pengambil that internally is provided to the operational
keputusan operasional. decision maker.
q. Laba per Saham q. Earnings per Share
Laba tahun berjalan per saham dasar dihitung Basic earnings per share is computed by
dengan membagi laba tahun berjalan dengan dividing income for the year by the weighted
rata-rata tertimbang jumlah saham yang average number of shares outstanding during
beredar pada tahun yang bersangkutan, yaitu the year, which is 1,042,000 shares for the
sebesar 1.042.000 saham masing-masing years ended December 31, 2024 and 2023,
untuk tahun yang berakhir pada tanggal respectively.
31 Desember 2024 dan 2023.
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
r. Imbalan Kerja Karyawan r. Employee Benefits
Perusahaan mempunyai program pensiun iuran The Company has a defined contribution
pasti untuk seluruh karyawan tetap yang retirement plan covering all of its
memenuhi syarat. Iuran pensiun sebesar 9,00% qualified permanent employees. Retirement
dari gaji pokok karyawan seluruhnya contributions of the Company amounted to
ditanggung oleh Perusahaan. 9.00% of the employees’ basic salaries.
Perusahaan mencatat penyisihan imbalan The Company recognizes a provision for post-
pasca kerja sesuai dengan PSAK 219, “Imbalan employment benefits in accordance with
Kerja”. Pernyataan ini mewajibkan Perusahaan PSAK 219, “Employee Benefits”. This standard
mengakui seluruh imbalan kerja yang diberikan requires the Company to provide all employee
melalui program atau perjanjian formal dan benefits under formal and informal plans or
informal, peraturan perundang-undangan atau agreements, under legislative requirements or
peraturan industri, yang mencakup imbalan through industry arrangements, including post-
pasca kerja, imbalan kerja jangka pendek dan employment benefits, short-term and other
jangka panjang lainnya, pesangon pemutusan long-term employee benefits, termination
hubungan kerja dan imbalan berbasis ekuitas. benefits and equity compensation benefits.
Perusahaan juga mencatat penyisihan manfaat The Company also provides additional
tambahan selain program dana pensiun provisions on top of the benefits provided under
tersebut di atas untuk memenuhi dan menutup the above-mentioned defined contribution
imbalan minimum yang harus dibayar kepada pension programs in order to meet and cover
karyawan-karyawan sesuai dengan Perjanjian the minimum benefits required to be paid to the
Kerja Bersama dan Peraturan Pemerintah qualified employees under Collective Labor
Pengganti Undang-undang tentang Cipta Kerja Agreement and Government Regulation in Lieu
No. 2/2022 (“UU Cipta Kerja”, (UUCK)). of Law No. 2/2022 (the “Cipta Kerja Law”,
Penyisihan tambahan tersebut diestimasi (UUCK)). The said additional provisions are
dengan menggunakan perhitungan aktuarial estimated using actuarial calculations using the
metode “Projected Unit Credit”. “Projected Unit Credit” method.
Pengukuran kembali, terdiri atas keuntungan Re-measurements, comprising of actuarial
dan kerugian aktuarial, segera diakui pada gains and losses, are recognized immediately
laporan posisi keuangan dengan pengaruh in the statement of financial position with a
langsung didebit atau dikreditkan kepada saldo corresponding debit or credit to retained
laba melalui PKL pada periode terjadinya. earnings through OCI in the period in which
Pengukuran kembali tidak direklasifikasi ke laba they occur. Re-measurements are not
rugi pada periode berikutnya. reclassified to profit or loss in subsequent
periods.
s. Pertimbangan dan Estimasi Akuntansi yang s. Judgments and Significant Accounting
Signifikan Estimates
i. Pertimbangan i. Judgment
Penyusunan laporan keuangan sesuai The preparation of the financial statements,
dengan Standar Akuntansi Keuangan di in conformity with Indonesian Financial
Indonesia mewajibkan manajemen untuk Accounting Standards, requires
membuat estimasi dan asumsi yang management to make estimations and
mempengaruhi jumlah-jumlah yang assumptions that affect amounts reported
dilaporkan dari pendapatan, beban, aset from income, expenses, assets and
dan liabilitas dan pengungkapan liabilitas liabilities and disclosure of contingent
kontinjensi pada akhir periode pelaporan. liabilities at the end of reporting period. The
Ketidakpastian mengenai asumsi dan estimation uncertainty may cause
estimasi tersebut dapat mengakibatkan adjustment to the carrying amounts of
penyesuaian nilai tercatat aset dan assets and liabilities within the next financial
liabilitas dalam periode pelaporan year.
berikutnya.
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Pertimbangan dan Estimasi Akuntansi yang s. Judgments and Significant Accounting
Signifikan (lanjutan) Estimates (continued)
i. Pertimbangan (lanjutan) i. Judgment (continued)
Pertimbangan berikut ini dibuat oleh The judgment is made by management in
manajemen dalam rangka penerapan the process of applying the Company’s
kebijakan akuntansi Perusahaan yang accounting policies that have the most
memiliki pengaruh paling signifikan atas significant effects on the amounts
jumlah yang diakui dalam laporan recognized in the financial statements:
keuangan:
Klasifikasi aset keuangan dan liabilitas Classification of financial assets and
keuangan financial liabilities
Perusahaan menetapkan klasifikasi atas The Company determines the classification
aset dan liabilitas tertentu sebagai aset of certain assets and liabilities as financial
keuangan dan liabilitas keuangan dengan assets and financial liabilities by judging if
mempertimbangkan apakah definisi yang they meet the definition set forth in
ditetapkan PSAK 109 dipenuhi. Dengan PSAK 109. Accordingly, the financial assets
demikian, aset keuangan dan liabilitas and financial liabilities are accounted for in
keuangan diakui sesuai dengan kebijakan accordance with the Company’s accounting
akuntansi Perusahaan seperti policies disclosed in Note 2d.
diungkapkan pada Catatan 2d.
Usaha yang berkelanjutan Going concern
Manajemen Perusahaan telah melakukan The Company’s management has made an
penilaian atas kemampuan Perusahaan assessment of the Company’s ability to
untuk melanjutkan kelangsungan continue as a going concern and is satisfied
usahanya dan berkeyakinan bahwa that the Company has the resources to
Perusahaan memiliki sumber daya untuk continue in business for the foreseeable
melanjutkan usahanya di masa future. Furthermore, the management is not
mendatang. Selain itu, manajemen tidak aware of any material uncertainties that may
mengetahui adanya ketidakpastian cast significant doubt upon the Company’s
material yang dapat menimbulkan ability to continue as a going concern.
keraguan yang signifikan terhadap Therefore, the financial statements continue
kemampuan Perusahaan untuk to be prepared on the going concern basis.
melanjutkan kelangsungan usahanya.
Oleh karena itu, laporan keuangan telah
disusun atas dasar usaha yang
berkelanjutan.
Opsi pembaruan dan penghentian dalam Lease term of contract with renewal and
kontrak - Perusahaan sebagai penyewa termination options - the Company as a
lessee
Perusahaan menentukan masa sewa The Company determines the lease term as
sebagai periode sewa yang tidak dapat the non-cancellable term of the lease,
dibatalkan, serta periode yang dicakup together with any periods covered by an
oleh opsi untuk memperpanjang sewa, jika option to extend the lease if it is reasonably
penyewa cukup pasti untuk mengeksekusi certain to be exercised, or any periods
opsi tersebut, dan periode yang dicakup covered by an option to terminate the lease,
oleh opsi untuk menghentikan sewa, jika if it is reasonably certain not to be exercised.
penyewa cukup pasti untuk tidak
mengeksekusi opsi tersebut.
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN 2. SUMMARY OF MATERIAL ACCOUNTING
AKUNTANSI MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Pertimbangan dan Estimasi Akuntansi yang s. Judgments and Significant Accounting
Signifikan (lanjutan) Estimates (continued)
i. Pertimbangan (lanjutan) i. Judgment (continued)
Perusahaan memiliki beberapa kontrak The Company has several lease contracts
sewa dengan opsi perpanjangan dan opsi that include extension and termination
penghentian. Perusahaan menerapkan options. The Company applies judgement in
pertimbangan dalam mengevaluasi evaluating whether it is reasonably certain
apakah penyewa cukup pasti untuk whether or not to exercise the option to
mengeksekusi opsi pembaruan atau renew or terminate the lease. That is, it
penghentian sewa tersebut. Perusahaan considers all relevant factors that create an
mempertimbangkan semua faktor-faktor economic incentive for it to exercise either
relevan yang menciptakan insentif the renewal or termination. After the
ekonomi jika Perusahaan mengeksekusi commencement date, the Company
opsi pembaruan atau penghentian reassesses the lease term if there is a
tersebut. Setelah dimulainya masa sewa, significant event or change in circumstances
Perusahaan menilai kembali masa sewa that is within its control that affects its ability
jika terdapat peristiwa atau perubahan to exercise or not to exercise the option to
signifikan pada lingkungan dalam renew or to terminate (e.g., construction of
kendalinya yang mempengaruhi significant leasehold improvements or
kemampuan Perusahaan untuk significant customisation of the leased
mengeksekusi atau tidak mengeksekusi asset).
opsi pembaruan atau penghentian sewa
(misalnya, konstruksi dari pengembangan
prasarana yang signifikan atau
penyesuaian signifikan dari aset sewa).
Pajak penghasilan Income tax
Pertimbangan signifikan dilakukan dalam Significant judgment is involved in
menentukan provisi atas pajak determining provision for corporate income
penghasilan badan. Terdapat transaksi tax. There are certain transactions and
dan perhitungan tertentu yang penentuan computation for which the ultimate tax
pajak akhirnya adalah tidak pasti determination is uncertain during the
sepanjang kegiatan usaha normal. ordinary course of business. The Company
Perusahaan mengakui liabilitas atas pajak recognizes liabilities for expected corporate
penghasilan badan berdasarkan estimasi income tax issues based on estimates of
apakah akan terdapat tambahan pajak whether additional corporate income tax will
penghasilan badan. be due.
ii. Estimasi dan Asumsi ii. Estimates and Assumptions
Asumsi utama masa depan dan sumber The key assumptions concerning the future
utama estimasi ketidakpastian lain pada and other key sources of probable
tanggal pelaporan yang memiliki risiko uncertainty at the reporting date that have a
signifikan bagi penyesuaian yang material significant risk of causing a material
terhadap nilai tercatat aset dan liabilitas adjustment to the carrying amounts of assets
untuk tahun berikutnya, diungkapkan di and liabilities within the next financial year
bawah ini. Perusahaan mendasarkan are disclosed below. The Company based its
asumsi dan estimasi pada parameter yang assumptions and estimates on parameters
tersedia pada saat laporan keuangan available when the financial statements were
disusun. Asumsi dan situasi mengenai prepared. Existing circumstances and
perkembangan masa depan mungkin assumptions about future developments,
berubah akibat perubahan pasar atau may change due to market changes or
situasi di luar kendali Perusahaan. circumstances arising beyond the control of
Perubahan tersebut dicerminkan dalam the Company. Such changes are reflected in
asumsi terkait pada saat terjadinya. the assumptions as they occur.
45
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Pertimbangan dan Estimasi Akuntansi yang s. Judgments and Significant Accounting
Signifikan (lanjutan) Estimates (continued)
ii. Estimasi dan Asumsi (lanjutan) ii. Estimates and Assumptions (continued)
Cadangan kerugian penurunan nilai Allowance for impairment losses on
piutang receivables
Perusahaan melakukan reviu atas piutang The Company reviews its receivables at
pada setiap tanggal laporan untuk each reporting date to evaluate the
melakukan penilaian atas cadangan allowance for impairment losses.
kerugian penurunan nilai yang telah Management’s judgment is applied in the
dicatat. Pertimbangan manajemen estimation of the amount and timing of future
diperlukan untuk melakukan estimasi atas cash flows when determining the level of
jumlah dan waktu yang tepat atas arus kas allowance required.
masa mendatang dalam menentukan
tingkat cadangan yang dibutuhkan.
PSAK 109 mensyaratkan penyertaan PSAK 109 requires inclusion of information
informasi tentang kejadian masa lalu, about past events, current conditions and
kondisi saat ini dan perkiraan kondisi forecasts of future economic conditions. The
ekonomi masa depan. Perkiraan estimates of changes in expected credit
perubahan dalam kerugian kredit yang losses should reflect, and be directionally
diharapkan harus mencerminkan, dan consistent with, changes in related
secara langsung konsisten dengan, observable data from period to period. The
perubahan dalam data terkait yang calculation of collective expected credit
diobservasi dari periode ke periode. losses of financial assets requires
Perhitungan kerugian kredit ekspektasian estimation of forward-looking Probability of
secara kolektif atas aset keuangan Default (PD), Loss Given Default (LGD) and
membutuhkan estimasi forward-looking Exposure at Default (EAD) (Note 2d).
dari Probability of Default (PD), Loss Given
Default (LGD) dan Exposure at Default
(EAD) (Catatan 2d).
Program pensiun dan imbalan kerja Pension plan and employee benefits
Pengukuran kewajiban dan biaya pensiun The measurement of the Company’s
dan liabilitas imbalan kerja Perusahaan obligations and cost for pension and
bergantung pada pemilihan asumsi yang employee benefits liabilities is dependent on
digunakan oleh aktuaris independen dalam its selection of certain assumptions used by
menghitung jumlah-jumlah tersebut. the independent actuaries in calculating such
Asumsi tersebut termasuk antara lain amounts. Those assumptions include among
tingkat diskonto, tingkat kenaikan gaji others, discount rates, annual salary
tahunan, tingkat pengunduran diri increase rate, annual employee turn-over
karyawan tahunan, tingkat kecacatan, rate, disability rate, retirement age, and
umur pension, dan tingkat kematian. mortality rate. While the Company believes
Sementara Perusahaan berkeyakinan that its assumptions are reasonable and
bahwa asumsi tersebut adalah wajar dan appropriate, significant differences in the
sesuai, perbedaan signifikan pada hasil Company’s actual results or significant
aktual atau perubahan signifikan dalam changes in the Company’s assumptions may
asumsi yang ditetapkan Perusahaan dapat materially affect its estimated liabilities for
mempengaruhi secara material liabilitas pension and employee benefits and net
diestimasi atas pensiun dan imbalan kerja employee benefits expense.
dan beban imbalan kerja neto.
46
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Pertimbangan dan Estimasi Akuntansi yang s. Judgments and Significant Accounting
Signifikan (lanjutan) Estimates (continued)
ii. Estimasi dan Asumsi (lanjutan) ii. Estimates and Assumptions (continued)
Nilai wajar instrumen keuangan Fair value of financial instruments
Perusahaan mencatat aset dan liabilitas The Company carries certain financial
keuangan tertentu pada nilai wajar, yang assets and liabilities at fair values, which
mengharuskan penggunaan estimasi requires the use of accounting estimates.
akuntansi. Sementara komponen While significant components of fair value
signifikan atas pengukuran nilai wajar measurement were determined using
ditentukan menggunakan bukti objektif verifiable objective evidence, the amount of
yang dapat diverifikasi, jumlah perubahan changes in fair values would differ if the
nilai wajar dapat berbeda bila Perusahaan Company utilized different valuation
menggunakan metodologi penilaian yang methodology. Any changes in fair values of
berbeda. Perubahan nilai wajar aset these financial assets would affect directly
keuangan tersebut dapat mempengaruhi the Company’s profit or loss.
secara langsung laba atau rugi
Perusahaan.
Umur ekonomis dan metode penyusutan Useful life and depreciation method of fixed
aset tetap assets
Biaya perolehan aset tetap disusutkan The costs of fixed assets are depreciated on
dengan menggunakan metode garis lurus a straight-line method with residual value
dengan menggunakan nilai sisa over their estimated useful lives.
berdasarkan estimasi masa manfaat Management properly estimates the useful
ekonomisnya. Manajemen mengestimasi lives of these fixed assets to be within 1 to
masa manfaat ekonomis aset tetap antara 20 years. These are common life
1 sampai dengan 20 tahun. Ini adalah umur expectation applied in the industry where the
yang secara umum diharapkan dalam Company conducts its business. Changes in
industri dimana Perusahaan menjalankan the expected level of usage and
bisnisnya. Perubahan tingkat pemakaian technological development could impact the
dan perkembangan teknologi dapat economic useful lives and the residual
mempengaruhi masa manfaat ekonomis values of these assets, and therefore future
dan nilai sisa aset, dan karenanya biaya depreciation charges could be revised.
penyusutan masa depan dapat direvisi. Further details are disclosed in Note 9.
Penjelasan lebih rinci diungkapkan dalam
Catatan 9.
Pajak tangguhan Deferred tax
Aset pajak tangguhan diakui atas jumlah Deferred tax assets are recognized for the
pajak penghasilan terpulihkan future recoverable taxable income arising
(recoverable) pada periode mendatang from temporary differences.
sebagai akibat perbedaan temporer yang
boleh dikurangkan.
Pertimbangan manajemen diperlukan Management judgment is required to
untuk menentukan jumlah aset pajak determine the amount of deferred tax assets
tangguhan yang dapat diakui, sesuai that can be recognized, based upon the
dengan waktu yang tepat dan tingkat laba likely timing on level of future taxable profits
fiskal di masa mendatang sejalan dengan together with future strategic planning
strategi rencana perpajakan ke depan (Note 2o).
(Catatan 2o).
47
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
t. Standar Akuntansi yang Telah Disahkan t. Accounting Standards Issued But Not Yet
Namun Belum Berlaku Efektif Effective
Standar akuntansi yang telah diterbitkan The accounting standards that have been
sampai tanggal penerbitan laporan keuangan issued up to the date of issuance of the
Perusahaan namun belum berlaku efektif Company’s financial statements, but not yet
diungkapkan berikut ini. Manajemen effective are disclosed below. The
bermaksud untuk menerapkan standar-standar management intends to adopt these standards
tersebut yang dipertimbangkan relevan that are considered relevant to the Company
terhadap Perusahaan pada saat efektif, dan when they become effective, and the impact to
dampaknya terhadap posisi dan kinerja the financial position and performance of the
keuangan Perusahaan masih diestimasi. Company is still being estimated.
Mulai efektif pada atau setelah tanggal Effective beginning on or after
1 Januari 2025 January 1, 2025
Amandemen PSAK 221, "Pengaruh Perubahan Amendment to PSAK 221, ‘The effects of
Kurs Valuta Asing": Kekurangan Ketertukaran Changes in Foreign Exchange Rates': Lack of
exchangeability
Amendemen ini memberikan persyaratan baru The amendment provides new requirements for
baru bagi entitas untuk menilai pertukaran antara entity to assess exchangeability between two
dua mata uang dan menentukan nilai tukar spot, currencies and determine the spot exchange
ketika suatu mata uang tidak tertukarkan. rate, when exchangeability is lacking.
Mulai efektif pada atau setelah tanggal Effective beginning on or after
1 Januari 2027 January 1, 2027
PSAK No. 413: Penurunan nilai PSAK No. 413: Impairment
PSAK No. 413 diterapkan pada aset keuangan PSAK No. 413 is applied to sharia financial
syariah berupa hak tagih yang jumlah kas dan assets in the form of collection rights whose
waktu pembayarannya sudah ditentukan dalam cash amount and payment time have been
akad. Perhitungan penurunan nilai dalam PSAK determined in the contract. The calculation of
No. 413 menggunakan konsep ekspektasi impairment in PSAK No. 413 uses the concept
kerugian (expected loss) yang perhitungannya of expected loss whose calculation reflects the
mencerminkan jumlah tidak bias dan probabilitas unbiased and probability-weighted amount and
tertimbang (unbiased and probability-weighted reasonable and supportable information. This
amount) dan informasi wajar dan tersokong calculation does not reflect the time value of
(reasonable and supportable information). money. The credit risk guarantee kafalah is
Perhitungan tersebut tidak mencerminkan nilai determined by the higher amount between the
waktu atas uang (time value of money). Kafalah provision amount calculated based on PSAK
penjaminan risiko kredit ditentukan jumlah yang No. 413 and the amount of liabilities that have
lebih tinggi antara jumlah provisi yang dihitung been formed. PSAK No. 413 is effective for
berdasarkan PSAK No. 413 dengan jumlah financial years starting on or after January 1,
liabilitas yang telah dibentuk. PSAK No. 413 2027, and can be applied early.
berlaku efektif untuk tahun buku yang dimulai
pada atau setelah tanggal 1 Januari 2027 dan
dapat diterapkan dini.
48
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
[
3. KAS DAN SETARA KAS 3. CASH AND CASH EQUIVALENTS
Akun ini terdiri dari: This account consists of:
31 Desember/December 31
2024 2023
Kas 17.314 25.913 Cash on hand
Bank - Pihak ketiga Cash in banks - Third parties
Rupiah Rupiah
PT Bank Maybank Indonesia Tbk 323.452 102.946 PT Bank Maybank Indonesia Tbk
PT Nationalnobu Tbk 100.111 300.049 PT Nationalnobu Tbk
PT Bank Central Asia Tbk 36.396 33.860 PT Bank Central Asia Tbk
PT Bank HSBC Indonesia 11.994 5.455 PT Bank HSBC Indonesia
PT Bank Mandiri (Persero) Tbk 9.877 6.232 PT Bank Mandiri (Persero) Tbk
PT Bank Danamon Syariah 9.134 6.956 PT Bank Danamon Syariah
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 7.835 58.131 (Persero) Tbk
PT Bank SMBC Indonesia Tbk PT Bank SMBC Indonesia Tbk
(Sebelumnya PT Bank BTPN Tbk) 1.063 1.232 (Formerly PT Bank BTPN Tbk)
PT Bank Danamon Indonesia Tbk 941 50.897 PT Bank Danamon Indonesia Tbk
PT Bank Jtrust Indonesia Tbk 879 8 PT Bank Jtrust Indonesia Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 844 7.032 (Persero) Tbk
PT Bank Permata Tbk 732 328 PT Bank Permata Tbk
PT Bank CIMB Niaga Tbk 706 567 PT Bank CIMB Niaga Tbk
PT Bank JP Morgan 665 205 PT Bank JP Morgan
Lain-lain (masing-masing di Others (below
bawah Rp500) 1.819 904 Rp500 each)
Dolar AS US Dollar
PT Bank UOB Indonesia 7.901 4.146 PT Bank UOB Indonesia
PT Bank Central Asia Tbk 7.444 2.488 PT Bank Central Asia Tbk
Lain-lain (masing-masing di Others (below
bawah Rp500) 656 786 Rp500 each)
Sub-total 522.449 582.222 Sub-total
Deposito berjangka - Pihak ketiga Time deposits - Third parties
Rupiah Rupiah
PT Allo Bank Indonesia Tbk 600.000 130.000 PT Allo Bank Indonesia Tbk
PT Bank Ina Perdana Tbk 300.000 50.000 PT Bank Ina Perdana Tbk
PT Bank Jago Tbk 200.000 - PT Bank Jago Tbk
PT Bank Mega Tbk - 200.000 PT Bank Mega Tbk
PT Bank Jtrust Indonesia Tbk - 100.000 PT Bank Jtrust Indonesia Tbk
Dolar AS US Dollar
PT Bank Mega Tbk 19.394 - PT Bank Mega Tbk
Sub-total 1.119.394 480.000 Sub-total
Total kas dan setara kas 1.659.157 1.088.135 Total cash and cash equivalents
Cadangan kerugian penurunan Allowance for impairment losses
nilai kas dan setara kas (299) (272) on cash and cash equivalent
Kas dan setara kas - Neto 1.658.858 1.087.863 Cash and cash equivalent - Net
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Tingkat suku bunga per tahun atas: Annual interest rates are as follows:
Bank - Rupiah 0,01% - 7,00% 0,00% - 7,50% Cash in banks - Rupiah
Bank - Dolar AS 0,01% - 4,65% 0,00% - 4,50% Cash in banks - US Dollar
Deposito berjangka - Rupiah 5,25% - 7,00% 4,00% - 7,50% Time deposits - Rupiah
Deposito berjangka - Dolar AS 5,00% - 5,25% 2,25% - 4,50% Time deposits - US Dollar
49
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Page 248
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. KAS DAN SETARA KAS (lanjutan) 3. CASH AND CASH EQUIVALENTS (continued)
Deposito berjangka ditempatkan dengan tenor 7 Time deposits are placed with a tenor of 7 to 30
sampai dengan 30 hari. days.
Pendapatan bunga dari rekening giro dan deposito Interest income from current accounts and time
berjangka adalah sebesar Rp23.510 dan Rp6.306 deposits amounted to Rp23,510 and Rp6,306 in
masing-masing pada tahun 2024 dan 2023 (Catatan 2024 and 2023, respectively (Note 22).
22).
Pada tanggal 31 Desember 2024 dan 2023, tidak As of December 31, 2024 and 2023, there are no
terdapat jumlah saldo kas dan setara kas yang restricted cash and cash equivalents.
dibatasi penggunaannya.
Pada tanggal 31 Desember 2024 dan 2023, tidak As of December 31, 2024 and 2023, there are no
ada kas dan setara kas yang dijaminkan oleh cash and cash equivalents collateralized by the
Perusahaan. Company.
4. PIUTANG PEMBIAYAAN KONSUMEN 4. CONSUMER FINANCING RECEIVABLES
Akun ini terdiri dari: This account consists of:
31 Desember/December 31
2024 2023
Pihak ketiga Third parties
Piutang pembiayaan konsumen 10.153.782 7.552.944 Consumer financing receivables
Pendapatan pembiayaan Unearned consumer financing
konsumen yang belum diakui (1.853.355) (1.408.812) income
Piutang pembiayaan konsumen - Consumer financing receivables -
pihak ketiga 8.300.427 6.144.132 third parties
Pihak berelasi Related parties
Piutang pembiayaan konsumen 13.853 13.001 Consumer financing receivables
Pendapatan pembiayaan Unearned consumer financing
konsumen yang belum diakui (894) (1.141) income
Piutang pembiayaan konsumen - Consumer financing receivables -
pihak berelasi 12.959 11.860 related parties
Total piutang pembiayaan Total consumer financing
konsumen 8.313.386 6.155.992 receivables
Cadangan kerugian penurunan nilai Allowance for impairment losses on
piutang pembiayaan konsumen (439.655) (336.122) consumer financing receivables
Piutang pembiayaan konsumen - Consumer financing receivables -
Neto 7.873.731 5.819.870 Net
50
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 4. CONSUMER FINANCING RECEIVABLES
(continued)
Rincian angsuran piutang pembiayaan konsumen The installment schedule of consumer financing
menurut tahun jatuh temponya adalah sebagai receivables by maturity period is as follows:
berikut:
31 Desember/December 31
2024 2023
Pihak ketiga Third parties
Telah jatuh tempo Past due
1-30 hari 24.040 59.472 1-30 days
31-60 hari 14.172 14.868 31-60 days
> 60 hari 18.922 20.600 > 60 days
Belum jatuh tempo Not yet due
2024 - 3.499.202 2024
2025 4.564.585 2.178.293 2025
2026 dan sesudahnya 5.532.063 1.780.509 2026 and thereafter
Sub-total 10.153.782 7.552.944 Sub-total
Pihak berelasi (Catatan 28a) Related parties (Note 28a)
Belum jatuh tempo Not yet due
2024 - 12.017 2024
2025 13.202 984 2025
2026 dan sesudahnya 651 - 2026 and thereafter
Sub-total 13.853 13.001 Sub-total
Total Piutang Pembiayaan Total Consumer Financing
Konsumen - Bruto 10.167.635 7.565.945 Receivables - Gross
Pendapatan pembiayaan konsumen yang belum Unearned consumer finance income includes net
diakui termasuk beban proses pembiayaan financing process expense amounting to
neto sebesar Rp327.459 dan Rp318.233 masing- Rp327,459 and Rp318,233 as of December 31,
masing pada tanggal 31 Desember 2024 dan 2023. 2024 and 2023, respectively.
Suku bunga efektif piutang pembiayaan konsumen The effective interest rates of consumer
dalam Rupiah berkisar antara 9,28% sampai financing receivables in Indonesian Rupiah are
dengan 33,59% pada tanggal 31 Desember 2024 ranging from 9.28% to 33.59% as of December
dan antara 8,33% sampai dengan 31,45% pada 31, 2024 and ranging from 8.33% to 31.45% as
tanggal 31 Desember 2023. of December 31, 2023.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the
Perusahaan tidak memiliki piutang pembiayaan Company has not consumer financing
konsumen dalam mata uang asing. receivables in foreign currency.
Piutang ini diberikan kepada konsumen untuk The receivables are given to customers for
pembiayaan kendaraan bermotor yang dijamin financing of vehicles and are secured by the
dengan Buku Pemilik Kendaraan Bermotor (BPKB) Certificates of Ownership (BPKB) of the vehicles
yang bersangkutan atau dokumen kepemilikan financed by the Company or other documents of
lainnya. ownership.
Kendaraan bermotor yang dibiayai oleh Perusahaan The vehicles financed by the Company are
telah diasuransikan atas risiko kehilangan dan covered by insurance against losses and
kerusakan kepada asuransi (Catatan 27 dan 28d). damages (Notes 27 and 28d).
Jangka waktu kontrak pembiayaan kendaraan The term of contract for consumer financing
bermotor kepada konsumen antara 1 sampai receivables are ranging from 1 to 6 years.
dengan 6 tahun.
51
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Page 250
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 4. CONSUMER FINANCING RECEIVABLES
(continued)
Perubahan nilai tercatat piutang pembiayaan The changes in the carrying value of consumer
konsumen dengan klasifikasi diamortisasi financing receivables classified as amortized by
berdasarkan stage untuk tahun yang berakhir stage for the year ended December 31, 2024 and
31 Desember 2024 dan 2023, adalah sebagai 2023, are as follows:
berikut:
31 Desember/December 2024
Stage 1 Stage 2 Stage 3 Total
Biaya perolehan diamortisasi 5.749.285 298.180 108.527 6.155.992 Amortized cost
Saldo awal Beginning balance
Pengalihan ke kerugian kredit Transfer to the 12-month expected
ekspektasian 12 bulan (stage 1) 32.981 (31.173) (1.808) - credit loss (stage 1)
Pengalihan ke piutang yang tidak Transfer to receivables
mengalami penurunan nilai (stage 2) (236.456) 237.981 (1.525) - which are not impaired (stage 2)
Pengalihan ke piutang yang Transfer to receivables
mengalami penurunan nilai (stage 3) (66.537) (24.936) 91.473 - which are impaired (stage 3)
Total saldo awal setelah pengalihan 5.479.273 480.052 196.667 6.155.992 Total beginning balance after transfer
Pengukuran kembali bersih nilai tercatat (1.413.373) (88.252) (27.896) (1.529.521) Net remeasurement of carrying value
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 5.280.247 93.202 28.812 5.402.261 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (1.328.898) (90.218) (4.286) (1.423.402) Derecognized financial assets
Aset keuangan yang dihapusbukukan (99.515) (96.853) (95.576) (291.944) Financial assets written-off
Total penambahan (penurunan) Total addition (deduction)
tahun berjalan 2.438.461 (182.121) (98.946) 2.157.394 during the year
Saldo akhir 7.917.734 297.931 97.721 8.313.386 Ending balance
31 Desember/December 2023
Stage 1 Stage 2 Stage 3 Total
Biaya perolehan diamortisasi Amortized cost
Saldo awal 4.543.313 265.859 96.657 4.905.829 Beginning balance
Pengalihan ke kerugian kredit Transfer to the 12-month expected
ekspektasian 12 bulan (stage 1) 31.239 (29.963) (1.276) - credit loss (stage 1)
Pengalihan ke piutang yang tidak Transfer to receivables
mengalami penurunan nilai (stage 2) (235.358) 236.976 (1.618) - which are not impaired (stage 2)
Pengalihan ke piutang yang Transfer to receivables
mengalami penurunan nilai (stage 3) (73.646) (30.590) 104.236 - which are impaired (stage 3)
Total saldo awal setelah pengalihan 4.265.548 442.282 197.999 4.905.829 Total beginning balance after transfer
Pengukuran kembali bersih nilai tercatat (1.215.072) (87.787) (30.387) (1.333.246) Net remeasurement of carrying value
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 3.761.791 102.893 30.089 3.894.773 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (1.016.273) (94.280) 45.574 (1.064.979) Derecognized financial assets
Aset keuangan yang dihapusbukukan (46.709) (64.928) (134.748) (246.385) Financial assets written-off
Total penambahan (penurunan) Total addition (deduction)
tahun berjalan 1.483.737 (144.102) (89.472) 1.250.163 during the year
Saldo akhir 5.749.285 298.180 108.527 6.155.992 Ending balance
Mutasi cadangan kerugian penurunan nilai piutang The movements in the allowance for impairment
pembiayaan konsumen adalah sebagai berikut: losses on consumer financing receivables are as
follows:
31 Desember/December 31
2024 2023
Saldo awal 336.122 285.491 Beginning balance
Penyisihan untuk tahun berjalan 395.477 297.016 Provision for the year
Penghapusan piutang (291.944) (246.385) Receivables written-off
Saldo akhir 439.655 336.122 Ending balance
52
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 4. CONSUMER FINANCING RECEIVABLES
(continued)
Perubahan cadangan kerugian penurunan nilai The changes in allowance for impairment losses on
piutang pembiayaan konsumen untuk tahun yang finance lease receivables for the years ended
berakhir pada tanggal-tanggal 31 Desember 2024 December 31, 2024 and 2023 are as follows:
dan 2023 adalah sebagai berikut:
31 Desember/December 2024
Stage 1 Stage 2 Stage 3 Total
Saldo awal 127.126 143.052 65.944 336.122 Beginning balance
Pengalihan ke: Transfer to:
Kerugian kredit ekspektasian 12 bulan The 12-month expected credit loss
(stage 1) 11.847 (10.702) (1.145) - (stage 1)
Kerugian kredit ekspektasian sepanjang
umurnya – tidak mengalami Lifetime expected credit losses -
penurunan nilai (stage 2) (4.971) 6.129 (1.158) - not credit-impairment (stage 2)
Kerugian kredit ekspektasian sepanjang
umurnya - mengalami Lifetime expected credit losses -
penurunan nilai (stage 3) (1.565) (12.687) 14.252 - credit-impairment (stage 3)
Total saldo awal setelah pengalihan 132.437 125.792 77.893 336.122 Total beginning balance after transfer
Pengukuran kembali bersih Net remeasurement
penyisihan kerugian 47.644 232.451 141.311 421.406 of loss allowance
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 84.403 50.482 25.675 160.560 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (30.072) (96.566) (59.851) (186.489) Derecognized financial asset
Total pembentukan tahun berjalan 101.975 186.367 107.135 395.477 Total build-up during the year
Aset keuangan yang dihapusbukukan (99.515) (96.853) (95.576) (291.944) Financial assets written-off
Pemulihan kembali piutang Recovery from receivables
yang telah dihapusbukukan - - - - written-off
Saldo akhir 134.897 215.306 89.452 439.655 Ending balance
31 Desember/December 2023
Stage 1 Stage 2 Stage 3 Total
Saldo awal 156.354 66.225 62.912 285.491 Beginning balance
Pengalihan ke: Transfer to:
Kerugian kredit ekspektasian 12 bulan The 12-month expected credit loss
(stage 1) 6.515 (5.598) (917) - (stage 1)
Kerugian kredit ekspektasian sepanjang
umurnya – tidak mengalami Lifetime expected credit losses -
penurunan nilai (stage 2) (6.793) 7.885 (1.092) - not credit-impairment (stage 2)
Kerugian kredit ekspektasian sepanjang
umurnya - mengalami Lifetime expected credit losses -
penurunan nilai (stage 3) (2.475) (8.327) 10.802 - credit-impairment (stage 3)
Total saldo awal setelah pengalihan 153.601 60.185 71.705 285.491 Total beginning balance after transfer
Pengukuran kembali bersih Net remeasurement
penyisihan kerugian 224 151.673 175.464 327.361 of loss allowance
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 59.930 38.943 11.211 110.084 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (39.920) (42.821) (57.688) (140.429) Derecognized financial assets
Total pembentukan tahun berjalan 20.234 147.795 128.987 297.016 Total build-up during the year
Aset keuangan yang dihapusbukukan (46.709) (64.928) (134.748) (246.385) Financial assets written-off
Pemulihan kembali piutang Recovery from receivables
yang telah dihapusbukukan - - - - written-off
Saldo akhir 127.126 143.052 65.944 336.122 Ending balance
Seluruh piutang pembiayaan konsumen pada tanggal All consumer financing receivables as of
31 Desember 2024 dan 2023 dievaluasi secara December 31, 2024 and 2023 are collectively and
kolektif dan individual terhadap penurunan nilai. individually evaluated for impairment.
Penghapusan cadangan kerugian penurunan nilai Allowance for impairment losses on consumer
piutang pembiayaan konsumen terjadi pada saat financing receivables is written-off when the
piutang pembiayaan konsumen tidak dapat ditagih consumer financing receivables are assessed to be
dan dihapusbukukan. uncollectible.
53
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Page 252
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PIUTANG PEMBIAYAAN KONSUMEN (lanjutan) 4. CONSUMER FINANCING RECEIVABLES
(continued)
Manajemen Perusahaan berkeyakinan bahwa The Company’s management believes that
cadangan kerugian penurunan nilai piutang the allowance for impairment losses on consumer
pembiayaan konsumen adalah cukup untuk financing receivables is adequate to cover any
menutupi kerugian yang mungkin timbul akibat tidak possible losses that may arise from uncollectible
tertagihnya piutang pembiayaan konsumen. consumer financing receivables.
Pada tanggal 31 Desember 2024 dan 2023, piutang As of December 31, 2024 and 2023, consumer
pembiayaan konsumen masing- financing receivables amounting to Rp26,529 and
masing sebesar Rp26.529 dan Rp27.701, Rp27,701, respectively, are pledged as collateral to
digunakan sebagai jaminan atas utang obligasi bonds payable (Note 15).
(Catatan 15).
Saldo piutang pembiayaan konsumen yang The balances of consumer financing receivables
digunakan sebagai jaminan terhadap kredit which are used as collateral to the term-loans and
berjangka dan kredit modal kerja yang diperoleh dari working capital loans and the related banks
beberapa bank (Catatan 11) adalah sebagai berikut: (Note 11) are as follows:
31 Desember/December 31
2024 2023
Rupiah Rupiah
PT Bank Oke Indonesia Tbk 100.063 100.096 PT Bank Oke Indonesia Tbk
PT Bank Pan Indonesia Tbk 75.123 190.373 PT Bank Pan Indonesia Tbk
Kredit Sindikasi Berjangka XI 40.433 393.564 Syndicated Term-Loan XI
PT Bank Jtrust Indonesia Tbk 38.553 59.711 PT Bank Jtrust Indonesia Tbk
PT Bank Permata Tbk 26.063 57.352 PT Bank Permata Tbk
PT Bank Muamalat Tbk 8.902 17.327 PT Bank Muamalat Tbk
PT Bank KEB Hana Indonesia 2.711 2.512 PT Bank KEB Hana Indonesia
PT Bank SMBC Indonesia Tbk PT Bank SMBC Indonesia Tbk
(Sebelumnya PT Bank BTPN Tbk) - 75.008 (Formerly PT Bank BTPN Tbk)
Kredit Sindikasi Berjangka X - 12.159 Syndicated Term-Loan X
PT Bank Central Asia Tbk - 8.372 PT Bank Central Asia Tbk
Total 291.848 916.474 Total
Pada tanggal 31 Desember 2024 dan 2023, piutang As of December 31, 2024 and 2023, consumer
pembiayaan konsumen masing- financing receivables amounting to Rp3,138 and
masing sebesar Rp3.138 dan Rp9.126, digunakan Rp9,126, respectively, is pledged as collateral to
sebagai jaminan atas fasilitas kerjasama joint financing facility with PT Bank CIMB Niaga Tbk
pembiayaan bersama dengan PT Bank CIMB Niaga (Note 27).
Tbk (Catatan 27).
Pada tanggal 31 Desember 2024 dan 2023, piutang As of December 31, 2024 and 2023, consumer
pembiayaan konsumen masing- financing receivables amounting to Rp361 and
masing sebesar Rp361 dan Rp1.357, digunakan Rp1,357, respectively, is pledged as collateral to
sebagai jaminan atas fasilitas refinancing Kredit refinancing of Housing Loan Facility from PT Sarana
Pemilikan Rumah (KPR) dari PT Sarana Multigriya Multigriya Finansial (Persero) (Note 27).
Finansial (Persero) (Catatan 27).
Pada tanggal 31 Desember 2024 dan 2023, piutang As of December 31, 2024 and 2023, consumer
pembiayaan konsumen masing-masing sebesar financing receivables amounting to Rp71 and
Rp71 dan Rp214 digunakan sebagai jaminan atas Rp214, respectively, is pledged as collateral to joint
fasilitas kerjasama pembiayaan bersama dengan financing facility with PT Bank SMBC Indonesia Tbk
PT Bank SMBC Indonesia Tbk (sebelumnya (formerly PT Bank BTPN Tbk) (Note 27).
PT Bank BTPN Tbk) (Catatan 27).
54
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. PIUTANG SEWA PEMBIAYAAN 5. FINANCE LEASE RECEIVABLES
Akun ini terdiri dari: This account consists of:
31 Desember/December 31
2024 2023
Pihak ketiga Third parties
Piutang sewa pembiayaan 7.300.721 9.601.286 Finance lease receivables
Nilai residu yang dijamin 8.823.261 13.566.852 Guaranteed residual value
Pendapatan sewa pembiayaan
yang belum diakui (819.296) (1.228.850) Unearned finance lease income
Simpanan jaminan (8.823.261) (13.566.852) Security deposits
Piutang sewa pembiayaan - Finance lease receivables -
pihak ketiga 6.481.425 8.372.436 third parties
Pihak berelasi Related parties
Piutang sewa pembiayaan 199.172 484.817 Finance lease receivables
Nilai residu yang dijamin 89.144 138.659 Guaranteed residual value
Pendapatan sewa pembiayaan
yang belum diakui (4.105) (22.714) Unearned finance lease income
Simpanan jaminan (89.144) (138.659) Security deposits
Piutang sewa pembiayaan - Finance lease receivables -
pihak berelasi 195.067 462.103 related parties
Total piutang sewa pembiayaan 6.676.492 8.834.539 Total finance lease receivables
Dikurangi cadangan kerugian
penurunan nilai piutang Less allowance for impairment losses
sewa pembiayaan (304.329) (414.773) on finance lease receivables
Piutang sewa pembiayaan - Neto 6.372.163 8.419.766 Finance lease receivables - Net
Jangka waktu kontrak piutang sewa pembiayaan The terms of contract for finance lease receivables
kepada konsumen antara 3 sampai dengan are ranging from 3 to 5 years.
5 tahun.
Analisis komponen piutang sewa pembiayaan The analysis of the components of finance lease
menurut jatuh temponya adalah sebagai berikut: receivables by maturity is as follows:
31 Desember 2024/ <1 tahun/ 1-5 tahun/ > 5 tahun/
December 31, 2024 <1 year 1-5 years > 5 years
Piutang sewa pembiayaan 7.499.893 4.400.209 3.099.626 58 Finance lease receivables
Nilai residu 8.912.405 2.752.179 6.160.091 135 Residual value
Simpanan jaminan (8.912.405) (2.752.179) (6.160.091) (135) Security deposits
Pendapatan sewa pembiayaan
yang belum diakui (823.401) (548.026) (275.372) (3) Unearned finance lease income
Nilai kini piutang Present value of
sewa pembiayaan 6.676.492 3.852.183 2.824.254 55 finance lease receivables
31 Desember 2023/ <1 tahun/ 1-5 tahun/ > 5 tahun/
December 31, 2023 <1 year 1-5 years > 5 years
Piutang sewa pembiayaan 10.086.103 5.354.112 4.731.866 125 Finance lease receivables
Nilai residu 13.705.511 5.149.672 8.555.704 135 Residual value
Simpanan jaminan (13.705.511) (5.149.672) (8.555.704) (135) Security deposits
Pendapatan sewa pembiayaan
yang belum diakui (1.251.564) (808.868) (442.681) (15) Unearned finance lease income
Nilai kini piutang Present value of
sewa pembiayaan 8.834.539 4.545.244 4.289.185 110 finance lease receivables
55
233
Page 254
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. PIUTANG SEWA PEMBIAYAAN (lanjutan) 5. FINANCE LEASE RECEIVABLES (continued)
Pada saat perjanjian sewa pembiayaan dimulai, At the time of execution of the finance lease
lessee memberikan simpanan jaminan. Simpanan contracts, the lessees pay security deposits. The
jaminan ini akan digunakan sebagai pembayaran security deposits are used as the final installment at
pada akhir masa sewa pembiayaan, bila hak opsi the end of the finance lease period, if the lessees
dilaksanakan lessee. Apabila lessee tidak exercise the option to purchase the leased assets. If
melaksanakan hak opsinya untuk membeli aset the lessees do not exercise the purchase option, the
sewa pembiayaan tersebut maka simpanan jaminan security deposit will be returned to the lessees as
dikembalikan kepada lessee sepanjang memenuhi long as it meets the conditions in the finance lease
ketentuan dalam perjanjian sewa pembiayaan. agreements.
Umur angsuran piutang sewa pembiayaan menurut The aging installment schedules of finance lease
tahun jatuh temponya adalah sebagai berikut: receivables by year of maturity are as follows:
31 Desember/December 31
2024 2023
Pihak ketiga Third parties
Telah jatuh tempo Past due
1-30 hari 11.987 9.189 1-30 days
31-60 hari 5.683 4.103 31-60 days
> 60 hari 6.480 5.232 > 60 days
Belum jatuh tempo Not yet due
2024 - 4.897.855 2024
2025 4.182.601 3.226.759 2025
2026 dan sesudahnya 3.093.970 1.458.148 2026 and thereafter
Sub-total 7.300.721 9.601.286 Sub-total
Pihak berelasi (Catatan 28a) Related parties (Note 28a)
Belum jatuh tempo Not yet due
2024 - 437.732 2024
2025 193.457 41.543 2025
2026 dan sesudahnya 5.715 5.542 2026 and thereafter
Sub-total 199.172 484.817 Sub-total
Total piutang sewa pembiayaan - Total finance lease receivables -
Bruto 7.499.893 10.086.103 Gross
Pendapatan sewa pembiayaan yang belum diakui Unearned finance lease income includes net
termasuk pendapatan proses pembiayaan neto financing process income amounting to Rp7,438
sebesar Rp7.438 dan Rp17.425, masing-masing and Rp17,425, respectively as of December 31,
pada tanggal 31 Desember 2024 dan 2023. 2024 and 2023.
Suku bunga efektif piutang sewa pembiayaan dalam The effective interest rates of finance lease
Rupiah berkisar antara 9,51% sampai dengan receivables in Indonesian Rupiah are ranging from
22,62% pada tanggal 31 Desember 2024 dan antara 9.51% to 22.62% as of December 31, 2024 and from
8,13% sampai dengan 32,04% pada tanggal 8.13% to 32.04% as of December 31, 2023.
31 Desember 2023.
Suku bunga efektif piutang sewa pembiayaan dalam The effective interest rates of finance lease
Dolar AS berkisar antara 8,46% sampai dengan receivables in US Dollar are ranging from 8.46% to
8,80% pada tanggal 31 Desember 2024 dan antara 8.80% as of December 31, 2024 and from 8.55% to
8,55% sampai dengan 8,81% pada tanggal 8.81% as of December 31, 2023.
31 Desember 2023.
56
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Page 255
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. PIUTANG SEWA PEMBIAYAAN (lanjutan) 5. FINANCE LEASE RECEIVABLES (continued)
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the Company
Perusahaan memiliki piutang sewa has finance lease receivables in US Dollar
pembiayaan dalam Dolar AS masing-masing amounting to US$5,503,341 and US$11,878,229 or
sebesar AS$5.503.341 dan AS$11.878.229 atau equivalent to Rp88,945 and Rp183,115,
setara dengan Rp88.945 dan Rp183.115 (Catatan respectively (Note 32).
32).
Kendaraan bermotor yang dibiayai oleh Perusahaan The vehicles financed by the Company are covered
telah diasuransikan atas risiko kehilangan dan by insurance against losses and damages (Notes 27
kerusakan kepada asuransi (Catatan 27 dan 28d). and 28d).
Saldo piutang sewa pembiayaan yang digunakan The balances of finance lease receivables which are
sebagai jaminan terhadap kredit berjangka dan used as collateral to the term-loans and working
kredit modal kerja yang diperoleh dari beberapa capital loans and the related banks
bank (Catatan 11) adalah sebagai berikut: (Note 11) are as follows:
31 Desember/December 31
2024 2023
Rupiah Rupiah
Kredit Sindikasi Berjangka XI 7.486 163.054 Syndicated Term-Loan XI
PT Bank KEB Hana Indonesia 2.899 36.430 PT KEB Hana Indonesia
Kredit Sindikasi Berjangka X - 5.543 Syndicated Term-Loan X
PT Bank Jtrust Indonesia Tbk - 4.291 PT Bank Jtrust Indonesia Tbk
Total 10.385 209.318 Total
Pada tanggal 31 Desember 2024 dan 2023, piutang As of December 31, 2024 and 2023, finance lease
sewa pembiayaan masing-masing sebesar receivables amounting to Rp18,565 and Rp17,346,
Rp18.565 dan Rp17.346, digunakan sebagai respectively, are pledged as collateral to bonds
jaminan atas utang obligasi (Catatan 15). payable (Note 15).
Perubahan nilai tercatat piutang sewa pembiayaan The changes in the carrying value of finance lease
dengan klasifikasi diamortisasi berdasarkan stage receivables classified as amortized by stage for the
untuk tahun yang berakhir 31 Desember 2024 dan year ended December 31, 2024 and 2023, are as
2023, adalah sebagai berikut: follows:
31 Desember/December 2024
Stage 1 Stage 2 Stage 3 Total
Biaya perolehan diamortisasi Amortized cost
Saldo awal 8.652.539 166.167 15.833 8.834.539 Beginning balance
Pengalihan ke kerugian kredit Transfer to the 12-month expected
ekspektasian 12 bulan (stage 1) 18.925 (17.193) (1.732) - credit loss (stage 1)
Pengalihan ke piutang yang tidak Transfer to receivables
mengalami penurunan nilai (stage 2) (200.042) 200.159 (117) - which are not impaired (stage 2)
Pengalihan ke piutang yang Transfer to receivables
mengalami penurunan nilai (stage 3) (20.432) (21.110) 41.542 - which are impaired (stage 3)
Total saldo awal setelah pengalihan 8.450.990 328.023 55.526 8.834.539 Total beginning balance after transfer
Pengukuran kembali bersih nilai tercatat (2.653.498) (73.334) (16.093) (2.742.925) Net remeasurement of carrying value
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 2.506.172 10.193 6.904 2.523.269 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (1.812.496) (76.731) (4.088) (1.893.315) Derecognized financial assets
Aset keuangan yang dihapusbukukan (17.412) (19.136) (8.528) (45.076) Financial assets written-off
Total penambahan (penurunan) Total addition (deduction)
tahun berjalan (1.977.234) (159.008) (21.805) (2.158.047) during the year
Saldo akhir 6.473.756 169.015 33.721 6.676.492 Ending balance
57
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Page 256
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. PIUTANG SEWA PEMBIAYAAN (lanjutan) 5. FINANCE LEASE RECEIVABLES (continued)
Perubahan nilai tercatat piutang sewa pembiayaan The changes in the carrying value of finance lease
dengan klasifikasi diamortisasi berdasarkan stage receivables classified as amortized by stage for the
untuk tahun yang berakhir 31 Desember 2024 dan year ended December 31, 2024 and 2023, are as
2023, adalah sebagai berikut: (lanjutan) follows: (continued)
31 Desember/December 2023
Stage 1 Stage 2 Stage 3 Total
Biaya perolehan diamortisasi Amortized cost
Saldo awal 8.544.370 131.669 11.826 8.687.865 Beginning balance
Pengalihan ke kerugian kredit Transfer to the 12-month expected
ekspektasian 12 bulan (stage 1) 22.143 (21.947) (196) - credit loss (stage 1)
Pengalihan ke piutang yang tidak Transfer to receivables
mengalami penurunan nilai (stage 2) (117.130) 118.861 (1.731) - which are not impaired (stage 2)
Pengalihan ke piutang yang Transfer to receivables
mengalami penurunan nilai (stage 3) (8.938) (9.556) 18.494 - which are impaired (stage 3)
Total saldo awal setelah pengalihan 8.440.445 219.027 28.393 8.687.865 Total beginning balance after transfer
Pengukuran kembali bersih nilai tercatat (2.356.635) (48.008) (5.331) (2.409.974) Net remeasurement of carrying value
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 4.577.729 61.485 2.514 4.641.728 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (2.004.519) (53.166) 695 (2.056.990) Derecognized financial assets
Aset keuangan yang dihapusbukukan (4.481) (13.171) (10.438) (28.090) Financial assets written-off
Total penambahan (penurunan) Total addition (deduction)
tahun berjalan 212.094 (52.860) (12.560) 146.674 during the year
Saldo akhir 8.652.539 166.167 15.833 8.834.539 Ending balance
Mutasi cadangan kerugian penurunan nilai piutang The movements in allowance for impairment losses
sewa pembiayaan untuk tahun yang berakhir pada on finance lease receivables for the years ended
tanggal-tanggal 31 Desember 2024 dan 2023 December 31, 2024 and 2023 are as follows:
adalah sebagai berikut:
31 Desember/December 31
2024 2023
Saldo awal 414.773 223.446 Beginning balance
Penambahan (pemulihan) selama Additional (recovery)
tahun berjalan (65.368) 219.417 provision for the year
Penghapusan piutang (45.076) (28.090) Receivables written-off
Saldo akhir 304.329 414.773 Ending balance
58
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. PIUTANG SEWA PEMBIAYAAN (lanjutan) 5. FINANCE LEASE RECEIVABLES (continued)
Perubahan cadangan kerugian penurunan nilai The changes in allowance for impairment losses on
piutang sewa pembiayaan untuk tahun yang finance lease receivables for the years ended
berakhir pada tanggal-tanggal 31 Desember 2024 December 31, 2024 and 2023 are as follows:
dan 2023 adalah sebagai berikut:
31 Desember/December 2024
Stage 1 Stage 2 Stage 3 Total
Saldo awal 318.828 89.460 6.485 414.773 Beginning balance
Pengalihan ke: Transfer to:
Kerugian kredit ekspektasian The 12-month expected
12 bulan (stage 1) 11.402 (10.381) (1.021) - credit loss (stage 1)
Kerugian kredit ekspektasian sepanjang
umurnya - tidak mengalami Lifetime expected credit losses -
penurunan nilai (stage 2) (10.292) 10.292 - - not credit-impairment (stage 2)
Kerugian kredit ekspektasian sepanjang
umurnya - mengalami Lifetime expected credit losses -
penurunan nilai (stage 3) (1.011) (12.268) 13.279 - credit-impairment (stage 3)
Total saldo awal setelah pengalihan 318.927 77.103 18.743 414.773 Total beginning balance after transfer
Pengukuran kembali bersih Net remeasurement
penyisihan kerugian (155.420) 96.303 20.150 (38.967) of loss allowance
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 91.984 4.884 6.797 103.665 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (75.912) (50.006) (4.148) (130.066) Derecognized financial assets
Total pembentukan tahun berjalan (139.348) 51.181 22.799 (65.368) Total build-up during the year
Aset keuangan yang dihapusbukukan (17.412) (19.136) (8.528) (45.076) Financial assets written-off
Saldo akhir 162.167 109.148 33.014 304.329 Ending balance
31 Desember/December 2023
Stage 1 Stage 2 Stage 3 Total
Saldo awal 135.005 86.401 2.040 223.446 Beginning balance
Pengalihan ke: Transfer to:
Kerugian kredit ekspektasian The 12-month expected
12 bulan (stage 1) 12.407 (12.356) (51) - credit loss (stage 1)
Kerugian kredit ekspektasian sepanjang
umurnya - tidak mengalami Lifetime expected credit losses -
penurunan nilai (stage 2) (3.172) 3.221 (49) - not credit-impairment (stage 2)
Kerugian kredit ekspektasian sepanjang
umurnya - mengalami Lifetime expected credit losses -
penurunan nilai (stage 3) (759) (3.699) 4.458 - credit-impairment (stage 3)
Total saldo awal setelah pengalihan 143.481 73.567 6.398 223.446 Total beginning balance after transfer
Pengukuran kembali bersih Net remeasurement
penyisihan kerugian 60.491 43.383 12.270 116.144 of loss allowance
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 182.240 30.090 172 212.502 originated or purchased
Aset keuangan yang dihentikan
pengakuannya (62.903) (44.409) (1.917) (109.229) Derecognized financial assets
Total pembentukan tahun berjalan 179.828 29.064 10.525 219.417 Total build-up during the year
Aset keuangan yang dihapusbukukan (4.481) (13.171) (10.438) (28.090) Financial assets written-off
Saldo akhir 318.828 89.460 6.485 414.773 Ending balance
59
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Page 258
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. PIUTANG SEWA PEMBIAYAAN (lanjutan) 5. FINANCE LEASE RECEIVABLES (continued)
Seluruh piutang sewa pembiayaan pada tanggal All finance lease receivables as of
31 Desember 2024 dan 2023 dievaluasi secara December 31, 2024 and 2023 are collectively and
kolektif dan individual terhadap penurunan nilai. individually evaluated for impairment.
Manajemen Perusahaan berkeyakinan bahwa The Company’s management believes that the
cadangan kerugian penurunan nilai piutang sewa above allowance for impairment losses on finance
pembiayaan adalah cukup untuk menutup kerugian lease receivables is adequate to cover possible
yang mungkin timbul akibat tidak tertagihnya piutang losses that may arise from uncollectible finance
sewa pembiayaan. lease receivables.
6. TAGIHAN ANJAK PIUTANG 6. FACTORING RECEIVABLES
Perusahaan mengadakan perjanjian anjak piutang The Company has entered into factoring
tanpa dan dengan jaminan. Tagihan anjak piutang agreements without and with recourse. Factoring
adalah sebagai berikut: receivables are as follows:
31 Desember/ 31 Desember/
December 31, 2024 December 31, 2023
Pihak ketiga Third parties
Tagihan anjak piutang 51.857 4.590 Factoring receivables
Pendapatan anjak piutang Unearned factoring
yang belum diakui (626) (516) income
Total tagihan anjak piutang 51.231 4.074 Total factoring receivables
Cadangan kerugian penurunan nilai Allowance for impairment losses on
tagihan anjak piutang (1) (9) factoring receivables
Tagihan anjak piutang - Neto 51.230 4.065 Factoring receivables - Net
Rincian angsuran tagihan anjak piutang menurut The installment schedule of factoring receivables by
tahun jatuh temponya adalah sebagai berikut: maturity period is as follows:
31 Desember/ 31 Desember/
December 31, 2024 December 31, 2023
Pihak ketiga Third parties
Belum jatuh tempo Not yet due
2024 - 4.590 2024
2025 51.857 - 2025
Total tagihan anjak piutang - Bruto 51.857 4.590 Total factoring receivables - Gross
60
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Page 259
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
6. TAGIHAN ANJAK PIUTANG (lanjutan) 6. FACTORING RECEIVABLES (continued)
Perubahan nilai tercatat tagihan anjak piutang The changes in the carrying value of factoring
dengan klasifikasi diamortisasi berdasarkan stage receivables classified as amortized by stage for the
untuk tahun yang berakhir 31 Desember 2024 dan year ended December 31, 2024 and 2023, are as
2023, adalah sebagai berikut: follows:
31 Desember/December 2024
Stage 1 Stage 2 Stage 3 Total
Biaya perolehan diamortisasi Amortized cost
Saldo awal 4.074 - - 4.074 Beginning balance
Pengalihan ke kerugian kredit Transfer to the 12-month expected
ekspektasian 12 bulan (stage 1) - - - - credit loss (stage 1)
Pengalihan ke piutang yang tidak Transfer to receivables
mengalami penurunan nilai (stage 2) - - - - which are not impaired (stage 2)
Pengalihan ke piutang yang Transfer to receivables
mengalami penurunan nilai (stage 3) - - - - which are impaired (stage 3)
Total saldo awal setelah pengalihan 4.074 - - 4.074 Total beginning balance after transfer
Pengukuran kembali bersih nilai tercatat (2.320) - - (2.320) Net remeasurement of carrying value
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 49.477 - - 49.477 originated or purchased
Aset keuangan yang dihentikan Derecognized
pengakuannya - - - - financial assets
Aset keuangan yang dihapusbukukan - - - - Financial assets written-off
Total penambahan Total addition
tahun berjalan 47.157 - - 47.157 during the year
Saldo akhir 51.231 - - 51.231 Ending balance
31 Desember/December 2023
Stage 1 Stage 2 Stage 3 Total
Biaya perolehan diamortisasi Amortized cost
Saldo awal 99.572 - - 99.572 Beginning balance
Pengalihan ke kerugian kredit Transfer to the 12-month expected
ekspektasian 12 bulan (stage 1) - - - - credit loss (stage 1)
Pengalihan ke piutang yang tidak Transfer to receivables
mengalami penurunan nilai (stage 2) - - - - which are not impaired (stage 2)
Pengalihan ke piutang yang Transfer to receivables
mengalami penurunan nilai (stage 3) - - - - which are impaired (stage 3)
Total saldo awal setelah pengalihan 99.572 - - 99.572 Total beginning balance after transfer
Pengukuran kembali bersih nilai tercatat - - - - Net remeasurement of carrying value
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 4.074 - - 4.074 originated or purchased
Aset keuangan yang dihentikan Derecognized
pengakuannya (99.572) - - (99.572) financial assets
Aset keuangan yang dihapusbukukan - - - - Financial assets written-off
Total penurunan Total deduction
tahun berjalan (95.498) - - (95.498) during the year
Saldo akhir 4.074 - - 4.074 Ending balance
Mutasi cadangan kerugian penurunan nilai tagihan The movements in the allowance for impairment
anjak piutang adalah sebagai berikut: losses on factoring receivables are as follows:
31 Desember/December 31
2024 2023
Saldo awal 9 1 Beginning balance
Penyisihan (pemulihan) Provision
untuk tahun berjalan (8) 8 (reversal) for the year
Saldo akhir 1 9 Ending balance
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the Company
Perusahaan tidak memiliki tagihan anjak piutang has no factoring receivables in foreign currency.
dalam mata uang asing.
61
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
6. TAGIHAN ANJAK PIUTANG (lanjutan) 6. FACTORING RECEIVABLES (continued)
Mutasi cadangan kerugian penurunan nilai tagihan The movements in the allowance for impairment
anjak piutang adalah sebagai berikut: losses on factoring receivables are as follows:
31 Desember/December 2024
Stage 1 Stage 2 Stage 3 Total
Saldo awal 9 - - 9 Beginning balance
Pengalihan ke: Transfer to:
Kerugian kredit ekspektasian The 12-month expected
12 bulan (stage 1) - - - - credit loss (stage 1)
Kerugian kredit ekspektasian sepanjang
umurnya - tidak mengalami Lifetime expected credit losses -
penurunan nilai (stage 2) - - - - not credit-impairment (stage 2)
Kerugian kredit ekspektasian sepanjang
umurnya - mengalami Lifetime expected credit losses -
penurunan nilai (stage 3) - - - - credit-impairment (stage 3)
Total saldo awal setelah pengalihan 9 - - 9 Total beginning balance after transfer
Pengukuran kembali bersih Net remeasurement
penyisihan kerugian (9) - - (9) of loss allowance
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 1 - - 1 originated or purchased
Aset keuangan yang dihentikan Derecognized
pengakuannya - - - - financial assets
Total pembentukan tahun berjalan (8) - - (8) Total build-up during the year
Aset keuangan yang dihapusbukukan Financial assets written-off
Pemulihan kembali piutang - - - - Recovery from receivables
yang telah dihapusbukukan written-off
Saldo akhir 1 - - 1 Ending balance
31 Desember/December 2023
Stage 1 Stage 2 Stage 3 Total
Saldo awal 1 - - 1 Beginning balance
Pengalihan ke: Transfer to:
Kerugian kredit ekspektasian The 12-month expected
12 bulan (stage 1) - - - - credit loss (stage 1)
Kerugian kredit ekspektasian sepanjang
umurnya - tidak mengalami Lifetime expected credit losses -
penurunan nilai (stage 2) - - - - not credit-impairment (stage 2)
Kerugian kredit ekspektasian sepanjang
umurnya - mengalami Lifetime expected credit losses -
penurunan nilai (stage 3) - - - - credit-impairment (stage 3)
Total saldo awal setelah pengalihan 1 - - 1 Total beginning balance after transfer
Pengukuran kembali bersih Net remeasurement
penyisihan kerugian - - - - of loss allowance
Aset keuangan baru yang New financial assets
diterbitkan atau dibeli 9 - - 9 originated or purchased
Aset keuangan yang dihentikan Derecognized
pengakuannya (1) - - (1) financial assets
Total pembentukan tahun berjalan 8 - - 8 Total build-up during the year
Aset keuangan yang dihapusbukukan - - - - Financial assets written-off
Pemulihan kembali piutang Recovery from receivables
yang telah dihapusbukukan - - - - written-off
Saldo akhir 9 - - 9 Ending balance
Seluruh tagihan anjak piutang pada tanggal All factoring receivables as of December 31, 2024
31 Desember 2024 dan 2023 dievaluasi secara kolektif and 2023 are collectively and individually evaluated
dan individual terhadap penurunan nilai. for impairment.
Tidak ada tagihan anjak piutang yang direstrukturisasi As of December 31, 2024 and 2023, there was no
pada tanggal 31 Desember 2024 dan 2023. restructured factoring receivables.
62
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Page 261
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
6. TAGIHAN ANJAK PIUTANG (lanjutan) 6. FACTORING RECEIVABLES (continued)
Manajemen Perusahaan berkeyakinan bahwa The Company’s management believes that the
cadangan kerugian penurunan nilai tagihan anjak above allowance for impairment losses on factoring
piutang adalah cukup untuk menutup kerugian yang receivables is adequate to cover possible losses
mungkin timbul akibat tidak tertagihnya tagihan that may arise from uncollectible factoring
anjak piutang. receivables.
Suku bunga efektif tagihan anjak piutang dalam The effective interest rates of factoring receivables
Rupiah sebesar 11,83% pada tanggal 31 Desember in Indonesian Rupiah are 11.83% as of December
2024 dan sebesar 13,80% pada tanggal 31, 2024 and 13.80% as of December 31, 2023. The
31 Desember 2023. Jangka waktu tagihan anjak term of factoring receivables without recourse based
piutang tanpa jaminan berdasarkan periode on the agreements are ranging from 1 month to 1
perjanjian antara 1 bulan hingga 1 tahun. years.
7. BIAYA DIBAYAR DI MUKA DAN UANG MUKA 7. PREPAID EXPENSES AND ADVANCES
a. BIAYA DIBAYAR DI MUKA a. PREPAID EXPENSES
Akun ini terdiri dari: This account consists of:
31 Desember/December 31
2024 2023
Provisi 1.158 264 Provision
Sewa 71 19 Rent
Lain-lain 4.693 4.845 Others
Total 5.922 5.128 Total
b. UANG MUKA b. ADVANCES
Akun ini terdiri dari: This account consists of:
31 Desember/December 31
2024 2023
Uang muka operasional 2.391 2.950 Operational activities advance
Uang muka perjalanan 569 534 Travel advance
Total 2.960 3.484 Total
8. PIUTANG LAIN-LAIN 8. OTHER RECEIVABLES
Akun ini terdiri dari: This account consists of:
31 Desember/December 31
2024 2023
Pihak ketiga Third parties
Piutang dari jaminan aset Receivable from collateral
yang dibiayai (Catatan 2k) 145.197 107.271 of financed asset (Note 2k)
Dikurangi: Less:
Cadangan kerugian penurunan nilai (79.858) (48.470) Allowance for impairment losses
Lain-lain 15.366 14.516 Others
Total 80.705 73.317 Total
Lain-lain terutama terdiri dari uang muka penjualan Others mainly consists of advances for sale of
kendaraan tarikan dan pendapatan bunga deposito collateral vehicle and interest receivable on time
yang akan diterima. Piutang lain-lain dikelompokkan deposits. Other receivables was classified as
ke dalam stage 3. stage 3.
63
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Page 262
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
8. PIUTANG LAIN-LAIN (lanjutan) 8. OTHER RECEIVABLES (continued)
Mutasi cadangan kerugian penurunan nilai piutang The movements in the allowance for impairment
dari jaminan aset yang dibiayai untuk tahun yang losses on receivable from collateral of financed
berakhir pada tanggal 31 Desember 2024 dan 2023 asset for years ended December 31, 2024 and
adalah sebagai berikut: 2023, are as follows:
31 Desember/ 31 Desember/
December 31, 2024 December 31, 2023
Saldo awal 48.470 48.470 Beginning balance
Penambahan untuk tahun berjalan 31.388 - Provision for the year
Saldo akhir 79.858 48.470 Ending balance
Manajemen Perusahaan berkeyakinan bahwa The Company’s management believes that the
cadangan kerugian penurunan nilai piutang dari above allowance for impairment losses on
jaminan aset yang dibiayai adalah cukup untuk receivable from collateral of financed asset is
menutup kerugian yang mungkin timbul akibat tidak adequate to cover possible losses that may arise
tertagihnya piutang dari jaminan aset yang dibiayai. from uncollectible of receivable from collateral of
financed asset.
9. ASET TETAP 9. FIXED ASSETS
Aset tetap terdiri dari: Fixed assets consist of:
Saldo Saldo
1 Januari 2024/ 31 Desember 2024/
Balance as of Penambahan/ Pengurangan/ Reklasifikasi/ Balance as of
January 1, 2024 Additions Deductions Reclassifications December 31, 2024
Biaya/penilaian
kembali Cost/revaluation
Tanah 160.171 - - - 160.171 Land
Bangunan 69.518 - - - 69.518 Buildings
Kendaraan 85.699 15.719 17.649 - 83.769 Vehicles
Peralatan dan Office equipment,
perlengkapan kantor 105.740 18.432 3.990 - 120.182 furniture and fixtures
Pengembangan
gedung yang disewa 50.360 7.321 - 22.434 80.115 Leasehold improvements
Aset tetap dalam
pembangunan 8.319 17.084 - (22.434) 2.969 Construction in progress
479.807 58.556 21.639 - 516.724
Aset hak guna 189.506 13.117 - - 202.623 Right-of-use assets
669.313 71.673 21.639 - 719.347
Akumulasi Penyusutan Accumulated Depreciation
Bangunan 14.575 2.995 - - 17.570 Buildings
Kendaraan 31.410 12.093 12.520 - 30.983 Vehicles
Peralatan dan Office equipment,
perlengkapan kantor 87.078 7.326 3.960 - 90.444 furniture and fixtures
Pengembangan
gedung yang disewa 44.252 2.409 - - 46.661 Leasehold improvements
177.315 24.823 16.480 - 185.658
Aset hak guna 120.312 31.194 - - 151.506 Right-of-use assets
297.627 56.017 16.480 - 337.164
Nilai Tercatat Neto 371.686 382.183 Net Carrying Value
64
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
9. ASET TETAP (lanjutan) 9. FIXED ASSETS (continued)
Aset tetap terdiri dari: (lanjutan) Fixed assets consist of: (continued)
Saldo Saldo
1 Januari 2023/ 31 Desember 2023/
Balance as of Penambahan/ Pengurangan/ Reklasifikasi/ Revaluasi/ Balance as of
January 1, 2023 Additions Deductions Reclassifications Revaluation December 31, 2023
Biaya/penilaian
kembali Cost/revaluation
Tanah 141.328 8.628 - - 10.215 160.171 Land
Bangunan 68.969 549 - - - 69.518 Buildings
Kendaraan 74.326 24.598 13.225 - - 85.699 Vehicles
Peralatan dan Office equipment,
perlengkapan kantor 97.914 12.713 4.887 - - 105.740 furniture and fixtures
Pengembangan
gedung yang disewa 47.401 472 118 2.605 - 50.360 Leasehold improvements
Aset tetap dalam
pembangunan 1.402 9.522 - (2.605) - 8.319 Construction in progress
431.340 56.482 18.230 - 10.215 479.807
Aset hak guna 174.043 15.463 - - - 189.506 Right-of-use assets
605.383 71.945 18.230 - 10.215 669.313
Akumulasi Penyusutan Accumulated Depreciation
Bangunan 11.919 2.656 - - - 14.575 Buildings
Kendaraan 28.818 11.096 8.504 - - 31.410 Vehicles
Peralatan dan Office equipment,
perlengkapan kantor 85.095 6.850 4.867 - - 87.078 furniture and fixtures
Pengembangan
gedung yang disewa 41.802 2.568 118 - - 44.252 Leasehold improvements
167.634 23.170 13.489 - - 177.315
Aset hak guna 89.403 30.909 - - - 120.312 Right-of-use assets
257.037 54.079 13.489 - - 297.627
Nilai Tercatat Neto 348.346 371.686 Net Carrying Value
Penyusutan yang dibebankan pada operasi adalah Depreciation charged to operations amounted to
sebesar Rp56.017 dan Rp54.079 masing-masing Rp56,017 and Rp54,079 for the years ended
untuk tahun yang berakhir pada tanggal December 31, 2024 and 2023, respectively.
31 Desember 2024 dan 2023.
Pada tanggal 31 Desember 2024 dan 2023, aset As of December 31, 2024 and 2023, construction in
tetap dalam pembangunan merupakan renovasi progress consists of renovation for branch offices.
untuk kantor cabang.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the cost of the
nilai perolehan aset tetap Perusahaan yang Company’s fixed assets that have been fully
telah disusutkan penuh namun masih depreciated but still being used amounted to
digunakan masing-masing adalah sebesar Rp125,260 and Rp120,037, respectively, which
Rp125.260 dan Rp120.037, yang terutama terdiri mainly consist of vehicles, office equipment,
atas kendaraan, peralatan dan perlengkapan kantor, furniture and fixtures, and leasehold improvements
dan pengembangan gedung yang disewa (tidak (unaudited).
diaudit).
Rincian laba penjualan aset tetap adalah sebagai The details of gain on sale of fixed assets are as
berikut: follows:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Hasil penjualan aset tetap 9.418 8.427 Proceeds from sale of fixed assets
Nilai tercatat neto aset tetap (5.158) (4.741) Net carrying value of fixed assets
Laba penjualan aset tetap (Catatan 22) 4.260 3.686 Gain on sale of fixed assets (Note 22)
65
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
9. ASET TETAP (lanjutan) 9. FIXED ASSETS (continued)
Aset tetap dalam pembangunan Constructions in progress
Perkiraan
Persentase
Penyelesaian/
Estimated
Completion Nilai Tercatat/ Perkiraan Waktu Penyelesaian/
31 Desember 2024 Percentage Carrying Value Estimated Time of Completion December 31, 2024
Pengembangan gedung
yang disewa 12% - 95% 2.969 Januari - April 2025/ Leasehold improvements
Seluruh nilai yang diakui pada aset tetap dalam All values recognized in construction in progress are
pembangunan adalah sesuai dengan kontrak, tidak in accordance with the contract, there are no
terdapat pengeluaran tambahan yang diakui. Serta, additional expenditures recognized. Also, there is no
tidak terdapat kapitalisasi biaya pinjaman untuk aset capitalization of borrowing costs for construction in
tetap dalam pembangunan. progress.
Perusahaan memiliki beberapa bidang tanah The Company own several plots of land with The
dengan status Hak Guna Bangunan (HGB) yang Rights to Use Building (“Hak Guna Bangunan –
memiliki masa manfaat yang akan berakhir pada HGB”), with remaining useful lives that will expire on
berbagai tanggal dari tahun 2027 sampai 2052. various dates from 2027 to 2052. The management
Manajemen berkeyakinan bahwa HGB di atas dapat believes that the HGBs can be renewed upon their
diperpanjang pada saat masa berlaku tersebut expiry.
berakhir.
Rincian HGB adalah sebagai berikut: The details of the HGB are as follows:
Lokasi/ No. HGB/ Batas waktu/ Luas (m2)/
Location HGB No. Expired date Area (m2)
Bandung, Jawa Barat 24 24 September 2027/September 24, 2027 845
Batam, Kepulauan Riau 1232 19 Maret 2031/March 19, 2031 104
Pekanbaru, Riau 623 5 Desember 2031/December 5, 2031 186
Kelapa Gading, DKI Jakarta 8721 16 April 2033/April 16, 2033 71
Kelapa Gading, DKI Jakarta 8722 28 April 2033/April 28, 2033 71
Surabaya, Jawa Timur 233 7 Agustus 2033/August 7, 2033 644
Jakarta Timur, DKI Jakarta 950 24 Januari 2034/January 24, 2034 391
Semarang, Jawa Tengah 743 10 Juni 2035/June 10, 2035 225
Semarang, Jawa Tengah 48 14 Juni 2035/June 14, 2035 6.689
Tangerang, Banten 1785 19 September 2035/September 19, 2035 85
Cikarang, Jawa Barat 495 11 Desember 2037/December 11, 2037 63
Bekasi, Jawa Barat 5907 18 Desember 2037/December 18, 2037 75
Palembang, Sumatera Selatan 272 1 November 2040/November 1, 2040 421
Bogor, Jawa Barat 791 8 Desember 2043/December 8, 2043 196
Denpasar, Bali 127 7 Maret 2044/March 7, 2044 300
Makassar, Sulawesi Selatan 21194 13 Februari 2045/February 13, 2045 120
Makassar, Sulawesi Selatan 21195 13 Februari 2045/February 13, 2045 115
Cirebon, Jawa Barat 428 30 Agustus 2048/August 30, 2048 13.804
Pemalang, Jawa Tengah SHM No. 570/1138 - 1507/1715
Pemalang, Jawa Tengah SHM No.1129/854 - 1700/1773
Semarang, Jawa Tengah 98 8 Agustus 2041/August 8, 2041 3.330
Semarang, Jawa Tengah 99 8 Agustus 2041/August 8, 2041 3.145
Jakarta Timur, DKI Jakarta 1772 14 Januari 2052/January 14, 2052 179
Sleman, DI Yogyakarta 900 6 November 2036/November 6, 2036 569
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the Company
Perusahaan tidak memiliki aset tetap yang tidak does not have unused fixed assets. As of December
digunakan untuk sementara. Pada tanggal 31 31, 2024 and 2023, the Company does not have
Desember 2024 dan 2023, Perusahaan tidak discontinued fixed assets which are classified as
memiliki aset tetap yang dihentikan dari available for sale.
penggunaan aktif dan tidak diklasifikasikan sebagai
tersedia untuk dijual.
Perusahaan mengasuransikan aset tetap terhadap Fixed assets are covered by insurance against
risiko kebakaran dan risiko lainnya berdasarkan losses from fire and other risks under blanket
suatu paket polis tertentu dengan nilai policies amounting to Rp139,224 and Rp95,025 as
pertanggungan sebesar Rp139.224 dan Rp95.025 of December 31, 2024 and 2023, respectively. Fixed
masing-masing pada tanggal 31 Desember 2024 assets are insured through PT Asuransi Central
dan 2023. Aset tetap tersebut diasuransikan melalui Asia, a related party (Note 28d). The management
PT Asuransi Central Asia, pihak berelasi (Catatan believes that the sum insured is adequate to cover
28d). Manajemen berkeyakinan bahwa nilai possible losses arising from such risks. On January
pertanggungan tersebut cukup untuk menutupi 5, 2024, the Company perform revaluation of their
kemungkinan kerugian yang akan timbul. Pada land.
tanggal 5 Januari 2024, Perusahaan melakukan
penilaian kembali untuk kelompok aset tanah.
66
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
9. ASET TETAP (lanjutan) 9. FIXED ASSETS (continued)
Berdasarkan keputusan Ketua Badan Pengawas Based on Decision of Chairman of Bapepam and
Pasar Modal dan Lembaga Keuangan No. KEP- LK No. KEP-347/BL/2012 dated 25 June 2012,
347/BL/2012 tanggal 25 Juni 2012 tentang about the presentation and disclosure in financial
Penyajian dan Pengungkapan Laporan Keuangan report of issuer or a public company in point 27.a
Emiten atau Perusahaan Publik butir 27.a dan and applicable Financial Accounting Standards,
Standar Akuntansi Keuangan yang berlaku, maka therefore, the Company assigned registered
Perusahaan telah menugaskan perusahaan jasa independent appraisers to appraise (revaluate) its
penilai terdaftar untuk melaksanakan penilaian fixed assets (land). The Company has revalued the
(revaluasi) aset tetap (tanah). Perusahaan value of that land not for tax purpose rather for the
melakukan penilaian kembali atas aset tanah compliance of the aforementioned Bapepam and LK
tersebut bukan untuk tujuan perpajakan tetapi hanya regulation and those applicable Financial
untuk pemenuhan ketentuan Bapepam dan LK dan Accounting Standards.
Standar Akuntansi Keuangan tersebut.
Penilaian atas tanah dilakukan oleh penilai The valuations of lands was perfomed by the
independen eksternal yaitu KJPP Pung’s Zulkarnain external independent appraiser KJPP Pung’s
& rekan (Fahmi Hassan M.Ec. Dev, MAPPI), KJPP Zulkarnain & Partner (Fahmi Hassan M.Ec. Dev,
Tri Santi (Ir. Y. Tri Sunindyo, MAPPI), dan KJPP MAPPI), KJPP Tri Santi (Ir. Y. Tri Sunindyo,
Muhammad Taufik (Wibiantoro Dayanto Tirtoprojo, MAPPI), dan KJPP Muhammad Taufik (Wibiantoro
M.EC.Dev, MAPPI). Dayanto Tirtoprojo, M.EC.Dev, MAPPI).
Penilaian dilakukan berdasarkan Standar Penilaian Valuations are performed based on Indonesian
Indonesia, ditentukan berdasarkan transaksi pasar Valuation Standards, determined based on
terkini dan dilakukan dengan ketentuan-ketentuan reference to recent market transactions done on
yang lazim. Metode penilaian yang dipakai adalah arm’s length terms and appropriate requirements.
metode data pasar. The valuation methods used are market value
approach.
Informasi mengenai penilaian kembali aset tetap Information on revaluation of land of the Company
pada tanggal 31 Desember 2023 untuk kelompok on December 31, 2023 are as follows:
aset tanah Perusahaan adalah sebagai berikut:
Nilai Buku sebelum Nilai Buku Setelah
Revaluasi/ Revaluasi/
Carrying Amount Before Carrying Amount after Keuntungan Revaluasi/
Revaluation Revaluation Gain on Revaluation
Tanah 149.957 160.172 10.215 Land
Jumlah 149.957 160.172 10.215 Total
Penilaian kembali yang dilakukan atas tanah The revaluation of land resulted an increase in the
menghasilkan jumlah kenaikan nilai tercatat sebesar carrying amount of land amounting to Rp10,215
Rp10.215 yang dicatat sebagai “Penghasilan recognized as “Other Comprehensive Income”.
Komprehensif Lain”.
Jika tanah dicatat sebesar harga perolehan, maka If land were recorded using historical cost basis, the
dicatat dalam jumlah sebagai berikut: amount would be as follows:
31 Desember/December 31
2024 2023
Tanah 89.683 89.683 Land
Berdasarkan evaluasi manajemen, tidak terdapat Based on management’s assessment, there are no
peristiwa atau perubahan keadaan yang events or changes in circumstances which may
mengindikasikan adanya penurunan nilai aset tetap indicate an impairment in value of fixed assets as of
pada tanggal 31 Desember 2024 dan 2023. December 31, 2024 and 2023.
67
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
[
9. ASET TETAP (lanjutan) 9. FIXED ASSETS (continued)
Aset hak guna adalah sebagai berikut: Right-of-use of assets are as follows:
1 Januari/ Penambahan/ (Pengurangan)/ 31 Desember/
January 2024 Additions (Deductions) Desember 2024
Biaya perolehan Cost
Bangunan 189.506 13.117 - 202.623 Buildings
189.506 13.117 - 202.623
Akumulasi penyusutan Accumulated depreciation
Bangunan 120.312 31.194 - 151.506 Buildings
120.312 31.194 - 151.506
Nilai buku neto 69.194 51.117 Net book value
1 Januari/ Penambahan/ (Pengurangan)/ 31 Desember/
January 2023 Additions (Deductions) Desember 2023
Biaya perolehan Cost
Bangunan 174.043 15.463 - 189.506 Buildings
174.043 15.463 - 189.506
Akumulasi penyusutan Accumulated depreciation
Bangunan 89.403 30.909 - 120.312 Buildings
89.403 30.909 - 120.312
Nilai buku neto 84.640 69.194 Net book value
Perusahaan menyewa beberapa aset bangunan The Company rent a several of buildings with period
dengan jangka waktu masa sewa antara 1 - 3 tahun. of lease term ranged between 1 - 3 years.
10. ASET LAIN-LAIN 10. OTHER ASSETS
Akun ini terutama terdiri dari: This account mainly consists of:
31 Desember/December 31
2024 2023
Uang jaminan 4.352 4.346 Security deposit
Lain-lain 4 5 Others
Biaya pinjaman sindikasi Deferred cost on loan
ditangguhkan (Catatan 11) - 71.155 syndication (Note 11)
Total 4.356 75.506 Total
11. UTANG BANK 11. BANK LOANS
Akun ini terdiri dari: This account consists of:
31 Desember/December 31
2024 2023
Pihak ketiga Third parties
Kredit berjangka Term-loans
Rupiah Rupiah
PT Bank Jago Tbk (Jago) 1.096.833 999.583 PT Bank Jago Tbk (Jago)
PT Bank Pan Indonesia Tbk (Panin) 527.778 480.556 PT Bank Pan Indonesia Tbk (Panin)
PT Bank Oke Indonesia Tbk (OK) 400.000 400.000 PT Bank Oke Indonesia Tbk (OK)
PT Bank IBK Indonesia Tbk (IBK) 98.797 133.549 PT IBK IndonesiaTbk (IBK)
PT Bank Jtrust Indonesia Tbk (Jtrust) 77.064 127.203 PT Bank Jtrust Indonesia Tbk (Jtrust)
PT Bank Permata Tbk (Permata) 52.083 114.583 PT Bank Permata Tbk (Permata)
PT Bank BTPN Syariah (BTPN Syariah) 34.551 - PT Bank BTPN Syariah (BTPN Syariah)
PT Bank Muamalat Tbk (Muamalat) 17.674 34.320 PT Bank Muamalat Tbk (Muamalat)
MUFG Bank, Ltd. (MUFG) 12.500 29.167 MUFG Bank, Ltd. (MUFG)
PT Bank KEB Hana Indonesia (Hana) 11.111 77.778 PT Bank KEB Hana Indonesia (Hana)
PT Bank Central Asia Tbk (BCA) - 16.668 PT Bank Central Asia Tbk (BCA)
68
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. UTANG BANK (lanjutan) 11. BANK LOANS (continued)
Akun ini terdiri dari: (lanjutan) This account consists of: (continued)
31 Desember/December 31
2024 2023
Pihak ketiga (lanjutan) Third parties (continued)
Kredit berjangka (lanjutan) Term-loans (continued)
Dolar AS US Dollar
Kredit Sindikasi Berjangka XIII Syndicated Term-Loan XIII
(AS$158.750.000 pada tahun 2024) 2.565.717 - (US$158,750,000 in 2024)
Kredit Sindikasi Berjangka XII
(AS$156.166.667 pada tahun Syndicated Term-Loan XII
2024 dan AS$265.166.666 (US$156,166,667 in 2024
pada tahun 2023) 2.523.965 4.087.809 and US$265,166,666 in 2023)
Kredit Sindikasi Berjangka XI
(AS$6.666.667 pada tahun Syndicated Term-Loan XI
2024 dan AS$77.500.000 (US$6,666,667 in 2024
pada tahun 2023) 107.747 1.194.740 and US$77,500,000 in 2023)
MUFG Bank, Ltd.
(AS$4.851.611 pada tahun MUFG Bank, Ltd.
2024 dan AS$10.144.278 (US$4,851,611 in 2024)
pada tahun 2023) 78.412 156.384 and US$10,144,278 in 2023)
Kredit Sindikasi Berjangka X Syndicated Term-Loan X
(AS$2.500.000 pada tahun 2023) - 38.540 (US$2,500,000 in 2023)
Sub-total 7.604.232 7.890.880 Sub-total
Kredit modal kerja Working capital loans
Rupiah Rupiah
PT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) Tbk
(Mandiri) 400.000 400.000 (Mandiri)
MUFG Bank, Ltd (MUFG) 400.000 400.000 MUFG Bank, Ltd (MUFG)
PT Bank CIMB Niaga Tbk (CIMB Niaga) 350.000 - PT Bank CIMB Niaga Tbk (CIMB Niaga)
PT Bank Mizuho Indonesia (Mizuho) 200.000 200.000 PT Bank Mizuho Indonesia (Mizuho)
PT Bank Hibank Indonesia (HIBank) 200.000 - PT Bank Hibank Indonesia (HIBank)
PT Bank Digital BCA (Digital BCA) 100.000 - PT Bank Digital BCA (Digital BCA)
PT Bank Victoria International Tbk PT Bank Victoria International Tbk
(Victoria) 20.000 20.000 (Victoria)
PT Bank SMBC Indonesia Tbk (SMBC) PT Bank SMBC Indonesia Tbk (SMBC)
(Sebelumnya PT Bank BTPN Tbk) - 500.000 (Formerly PT Bank BTPN Tbk)
PT Bank Jago Tbk (Jago) - 200.000 PT Bank Jago Tbk (Jago)
PT Bank Maybank Indonesia Tbk - 100.000 PT Bank Maybank Indonesia Tbk
PT Bank Nationalnobu Tbk (Nobu) - 100.000 PT Bank Nationalnobu Tbk (Nobu)
PT Bank DBS Indonesia (DBS) - 100.000 PT Bank DBS Indonesia (DBS)
JP Morgan Chase Bank (JP Morgan) - 68.000 JP Morgan Chase Bank (JP Morgan)
Dolar AS US Dollar
PT Bank Danamon Indonesia Tbk PT Bank Danamon Indonesia Tbk
(AS$25.760.000 pada tahun 2023) - 397.116 (US$25,760,000 in 2023)
PT Bank CIMB Niaga Tbk PT Bank CIMB Niaga Tbk
(AS$18.500.000 pada tahun 2023) - 285.196 (US$18,500,000 in 2023)
PT Bank CIMB Niaga Syariah Tbk PT Bank CIMB Niaga Syariah Tbk
(AS$3.200.000 pada tahun 2023) - 49.331 (US$3,200,000 in 2023)
Sub-total 1.670.000 2.819.643 Sub-total
Total 9.274.232 10.710.523 Total
Dikurangi biaya transaksi
yang belum diamortisasi (66.957) (9.203) Less unamortized transaction cost
Neto 9.207.275 10.701.320 Net
69
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. UTANG BANK (lanjutan) 11. BANK LOANS (continued)
Kredit berjangka Term-loans
Berikut ini adalah tabel rincian dari fasilitas pinjaman The following are the details of term-loan facilities in
kredit berjangka yang diterima dalam Rupiah: Rupiah:
Batas
maksimum
kredit/
Maximum Periode/Period
Nama bank/ Fasilitas/ credit limit Cicilan pokok/
Bank name Facility (in millions Rupiah) Awal/Start Akhir/End Principal installment
PT Bank Pan 26 Maret 2021/ 10 Mei 2024/ Setiap satu bulan sekali/
Indonesia Tbk (Panin) III 500.000 March 26, 2021 May 10, 2024 Monthly basis
30 Agustus 2022/ 16 Desember 2025/ Setiap satu bulan sekali/
IV 500.000 August 30, 2022 December 16, 2025 Monthly basis
14 Desember 2023/ 2 April 2027/ Setiap satu bulan sekali/
V 500.000 December 14, 2023 April 2, 2027 Monthly basis
5 November 2024/ 5 November 2029/ Setiap satu bulan sekali/
VI 500.000 November 5, 2024 November 5, 2029 Monthly basis
PT Bank Permata Tbk (Permata) 30 Juli 2021/ 19 Oktober 2025/ Setiap satu bulan sekali/
III 250.000* July 30, 2021 October 19, 2025 Monthly basis
PT Bank Central 26 Maret 2021/ 29 Maret 2024/ Setiap satu bulan sekali/
Asia Tbk (BCA) IV 200.000 March 26, 2021 March 29, 2024 Monthly basis
PT Bank Danamon 19 September 2007/ 9 Januari 2025/ Setiap satu bulan sekali/
Indonesia Tbk (Danamon) I 20.000* September 19, 2007 January 9, 2025 Monthly basis
30 Maret 2022/ 29 Desember 2023/ Setiap satu bulan sekali/
II 50.000* March 30, 2022 December 29, 2023 Monthly basis
30 Maret 2022/ 29 Desember 2023/ Setiap satu bulan sekali/
III 250.000* March 30, 2022 December 29, 2023 Monthly basis
29 Desember 2023/ 30 September 2025/ Setiap satu bulan sekali/
MUFG Bank, Ltd I 50.000* December 29, 2023 September 30, 2025 Monthly basis
29 Desember 2023/ 28 November 2025/ Setiap satu bulan sekali/
II 250.000* December 29, 2023 November 28, 2025 Monthly basis
PT Bank KEB 3 Februari 2022/ 23 Februari 2025/ Setiap satu bulan sekali/
Hana Indonesia (Hana) I 200.000 February 3, 2022 February 23, 2025 Monthly basis
PT Bank Jtrust 28 Maret 2022/ 25 Mei 2026/ Setiap satu bulan sekali/
Indonesia Tbk (Jtrust) I 200.000 March 28, 2022 May 25, 2026 Monthly basis
Pembayaran penuh
pada saat jatuh tempo/
PT Bank Oke 28 Juni 2022/ 22 Juli 2025/ Bullet payment
Indonesia Tbk (OK) I 200.000 June 28, 2022 July 22, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
27 Juni 2023/ 27 Juni 2026/ Bullet payment
II 200.000 June 27, 2023 June 27, 2026 on due date
22 Desember 2022/ 23 Desember 2025/ Setiap satu bulan sekali/
PT Bank Muamalat Tbk (Muamalat) I 50.000 December 22, 2022 December 23, 2025 Monthly basis
15 Juni 2023/ 19 Juli 2030/ Setiap satu bulan sekali/
PT Bank Jago Tbk (Jago) I 1.200.000 June 15, 2023 July 19, 2030 Monthly basis
16 Juni 2023/ 26 Juni 2027/ Setiap satu bulan sekali/
PT Bank IBK Tbk (IBK) I 150.000 June 16, 2023 June 26, 2027 Monthly basis
Pembayaran penuh
PT Bank SMBC Indonesia Tbk pada saat jatuh tempo/
(SMBC) (Sebelumnya/formerly 17 Mei 2023/ 30 September 2024/ Bullet payment
PT Bank BTPN Tbk) I 50.000 May 17, 2023 September 30, 2024 on due date
PT Bank Maybank 1 November 2024/ 1 November 2029/ Setiap satu bulan sekali/
Indonesia Tbk (Maybank) I 300.000* November 1, 2024 November 1, 2029 Monthly basis
PT Bank BTPN 30 Mei 2024/ 30 Mei 2028/ Setiap satu bulan sekali/
Syariah Tbk (BTPN Syariah) I 100.000** May 30, 2024 May 30, 2028 Monthly basis
* Fasilitas dapat digunakan dalam mata uang Dollar A.S dan/atau Rupiah/The facility may be utilized in US Dollar and/or Rupiah currencies
** Sublimit dengan kredit modal kerja dengan jumlah maksimum sebesar Rp50 miliar/Sublimit to Working Capital Facility max Rp50 billion
70
248
Page 269
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. UTANG BANK (lanjutan) 11. BANK LOANS (continued)
Kredit berjangka (lanjutan) Term-loans (continued)
Perusahaan membayar suku bunga tahunan The Company paid annual interest rate for Rupiah
fasilitas pinjaman dalam Rupiah sebesar 6,00% - loan facility of 6.00% - 7.40% for annual interest rate
7,40% untuk suku bunga tahunan fasilitas pinjaman for Rupiah loan facility for December 31, 2024 and
dalam Rupiah untuk 31 Desember 2024 dan tahun 2023.
2023.
Selama masa berlakunya perjanjian-perjanjian di During the period of the loans above, the Company
atas, Perusahaan harus memelihara rasio keuangan is required to maintain financial ratios as follows:
sebagai berikut:
Pembatasan Keuangan Financial Covenants
Debt to equity ratio : 10 : 1 : Debt to equity ratio
Total Net Debt to equity ratio : 10 : 1 : Total Net Debt to equity ratio
Non performing assets/loan : 5% : Non performing assets/loan
Interest service coverage ratio : min. 1,25 : 1 : Interest service coverage ratio
AR to total assets : min. 40% : AR to total assets
Tangible net worth : min Rp1.000.000 : Tangible net worth
Ownership : min. 51% : Ownership
Berikut ini adalah tabel rincian dari fasilitas pinjaman The following are the details of term-loan
kredit berjangka yang diterima dalam Dolar AS: outstanding in US Dollar:
Batas
maksimum
kredit/ Periode/Period
Nama bank/ Fasilitas/ Maximum Cicilan pokok/
Bank name Facility credit limit Awal/Start Akhir/End Principal installment
Kredit Sindikasi
Berjangka XIII/
Syndicated AS$400.000.000/ 31 Oktober 2023/ 18 Mei 2029/ Setiap tiga bulan sekali/
Term-Loan XIII I US$400,000,000 October 31, 2023 May 18, 2029 Paid every three months
Kredit Sindikasi
Berjangka XII/
Syndicated AS$327.000.000/ 22 Juli 2022/ 25 July 2026/ Setiap tiga bulan sekali/
Term-Loan XII I US$327,000,000 July 22, 2022 July 25, 2026 Paid every three months
Kredit Sindikasi
Berjangka XI/
Syndicated AS$270.000.000/ 4 Mei 2021/ 18 Januari 2025/ Setiap tiga bulan sekali/
Term-Loan XI I US$270,000,000 May 4, 2021 January 18, 2025 Paid every three months
Kredit Sindikasi
Berjangka X/
Syndicated AS$255.000.000/ 31 Maret 2020/ 23 Februari 2024/ Setiap tiga bulan sekali/
Term-Loan X I US$255,000,000 March 31, 2020 February 23, 2024 Paid every three months
Pada tanggal 31 Desember 2023, tidak ada As of December 31, 2023, there is no drawdown on
penarikan fasilitas pada Sindikasi Berjangka XIII, Syndicated Term-Loan XIII, and recorded deferred
dan mencatat biaya pinjaman sindikasi cost on loan syndication as part of other assets
ditangguhkan sebagai bagian dari aset lain-lain (Note 10).
(Catatan 10).
Perusahaan membayar suku bunga tahunan The Company paid annual interest rate for
fasilitas Pinjaman Sindikasi sebesar 3 months Term Syndicated Loan facility of 3 months Term SOFR +
SOFR + margin untuk 31 Desember 2024 dan tahun margin for December 31, 2024 and 2023.
2023.
71
249
Page 270
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. UTANG BANK (lanjutan) 11. BANK LOANS (continued)
Kredit berjangka (lanjutan) Term-loans (continued)
a. Kredit Sindikasi Berjangka XIII a. Syndicated Term-Loan XIII
Berdasarkan Perjanjian Kredit Sindikasi In accordance with the Syndicated Term-Loan
Berjangka tanggal 31 Oktober 2023, PT Bank Facility Agreement dated October 31, 2023,
SMBC Indonesia Tbk (sebelumnya PT Bank PT Bank SMBC Indonesia Tbk (formerly
BTPN Tbk), PT Bank CIMB Niaga Tbk, CIMB PT Bank BTPN Tbk), PT Bank CIMB Niaga Tbk,
Bank Berhard Cabang Singapura, CTBC Bank CIMB Bank Berhard Singapore Branch, CTBC
Co., Ltd, PT Bank Mandiri (Persero) Tbk, Mizuho Bank Co., Ltd, PT Bank Mandiri (Persero) Tbk,
Bank, Ltd., Oversea-Chinese Banking Mizuho Bank, Ltd., Oversea-Chinese Banking
Corporation Limited, RHB Bank Berhad, Bank of Corporation Limited, RHB Bank Berhad, Bank of
China (Hong Kong) Limited, Bank of China (Hong China (Hong Kong) Limited, Bank of China
Kong) Limited Cabang Jakarta, DBS Bank Ltd., (Hong Kong) Limited Jakarta Branch, DBS Bank
dan Sumitomo Mitsui Banking Corporation Ltd., dan Sumitomo Mitsui Banking Corporation
Cabang Singapura sebagai original mandate Singapore Branch as original mandated lead
lead arrangers and bookrunners (Kredit Sindikasi arrangers and bookrunners (Syndicated Term-
Berjangka XIII) setuju untuk memberikan fasilitas Loan XIII) agreed to provide a credit facility to
kredit kepada Perusahaan dengan jumlah the Company at the maximum amount of
maksimum sebesar AS$400.000.000. US$400,000,000.
Dalam mengelola risiko yang berkaitan dengan In managing the risk associated with the
fluktuasi mata uang asing dan tingkat bunga fluctuation of foreign currency and floating
mengambang dari pinjaman sindikasi ini, interest rate of this syndicated loan, the
Perusahaan menggunakan instrumen keuangan Company uses derivative financial instruments
derivatif untuk melindungi risiko tersebut to hedge the risks (Note 16).
(Catatan 16).
Selain itu, selama masa berlakunya perjanjian In addition, during the period of the loan, the
ini, Perusahaan harus memelihara rasio Company is required to maintain financial ratios
keuangan sebagai berikut: as follows:
Pembatasan Keuangan Financial Covenants
Interest coverage ratio : min. 1,25 : 1 : Interest coverage ratio
Net Debt to equity ratio : maks. 10 : 1 : Net Debt to equity ratio
Non performing assets : 5% from total financing receivables : Non performing assets
Borrower’s equity : Rp1 trillion : Borrower’s equity
Perusahaan menerima fasilitas Kredit Sindikasi The Company obtained Syndicated Term-Loan
Berjangka (Seri A) dari beberapa kreditur facility (Tranche A) from the lenders such as
diantaranya DBS Bank Ltd, Oversea-Chinese DBS Bank Ltd, Oversea-Chinese Banking
Banking Corporation Limited, RHB Bank Berhad, Corporation Limited, RHB Bank Berhad, CTBC
CTBC Bank Co., Ltd, CIMB Bank Berhard Bank Co., Ltd, CIMB Bank Berhard Singapore
Cabang Singapura, Bank of China (Hong Kong) Branch, Bank of China (Hong Kong) Limited,
Limited, Sumitomo Mitsui Banking Corporation Sumitomo Mitsui Banking Corporation
Cabang Singapura, Taiwan Cooperative Bank Singapore Branch, Taiwan Cooperative Bank
Offshore Banking Branch, Land Bank of Taiwan, Offshore Banking Branch, Land Bank of Taiwan,
First Commercial Bank Offshore Banking Branch, First Commercial Bank Offshore Banking
Taipei Fubon Commercial Bank Co., Ltd Cabang Branch, Taipei Fubon Commercial Bank Co.,
Singapura, Bank of The Philippine Islands, Ltd Singapore Branch, Bank of The Philippine
Taishin International Bank, Taiwan Business Islands, Taishin International Bank, Taiwan
Bank Ltd Offshore Banking Branch, The Business Bank Ltd Offshore Banking Branch,
Shanghai Commercial & Savings Bank, Ltd The Shanghai Commercial & Savings Bank, Ltd
Offshore Banking Branch, Hua Nan Commercial Offshore Banking Branch, Hua Nan Commercial
Bank, Ltd Offshore Banking Branch, Bank of Bank, Ltd Offshore Banking Branch, Bank of
Panshin, Bank of Taiwan Cabang Singapura, Panshin, Bank of Taiwan Singapore Branch,
Chang Hwa Commercial Bank Ltd Offshore Chang Hwa Commercial Bank Ltd Offshore
Banking Branch, Taiwan Shin Kong Commercial Banking Branch, Taiwan Shin Kong Commercial
Bank Co., Ltd, Mega International Commercial Bank Co., Ltd, Mega International Commercial
Bank Co., Ltd Offshore Banking Branch, E. Sun Bank Co., Ltd Offshore Banking Branch, E. Sun
Commercial Bank Ltd, The Hyakugo Bank Ltd, Commercial Bank Ltd, The Hyakugo Bank Ltd,
dan Hua Nan Commercial Bank Cabang and Hua Nan Commercial Bank Singapore
Singapura. Branch.
72
250
Page 271
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. UTANG BANK (lanjutan) 11. BANK LOANS (continued)
Kredit berjangka (lanjutan) Term-loans (continued)
a. Kredit Sindikasi Berjangka XIII (lanjutan) a. Syndicated Term-Loan XIII (continued)
Perusahaan menerima fasilitas Kredit Sindikasi The Company obtained Syndicated Term-Loan
Berjangka (Seri B) dari beberapa kreditur facility (Tranche B) from the lenders such as PT
diantaranya PT Bank Mandiri (Persero) Tbk Bank Mandiri (Persero) Tbk Singapore Branch,
Cabang Singapura, PT Bank Mizuho Indonesia, PT Bank Mizuho Indonesia, The Korea
The Korea Development Bank Cabang Development Bank Singapore Branch, PT Bank
Singapura, PT Bank CIMB Niaga Tbk, PT Bank CIMB Niaga Tbk, PT Bank SMBC Indonesia Tbk
SMBC Indonesia Tbk (sebelumnya PT Bank (formerly PT Bank BTPN Tbk), Bank of China
BTPN Tbk), Bank of China (Hong Kong) Limited (Hong Kong) Limited Jakarta Branch, PT Bank
Cabang Jakarta, PT Bank Rakyat Indonesia Rakyat Indonesia (Persero) Tbk, PT Bank
(Persero) Tbk, PT Bank Tabungan Negara Tabungan Negara (Persero) Tbk, PT Bank
(Persero) Tbk, PT Bank Maspion Indonesia Tbk, Maspion Indonesia Tbk, PT Bank SBI Indonesia,
PT Bank SBI Indonesia, PT Bank KEB Hana PT Bank KEB Hana Indonesia, PT Bank
Indonesia, PT Bank Mayapada Internasional Mayapada Internasional Tbk, and PT Bank Woori
Tbk, dan PT Bank Woori Saudara Indonesia Saudara Indonesia 1906 Tbk.
1906 Tbk.
b. Kredit Sindikasi Berjangka XII b. Syndicated Term-Loan XII
Berdasarkan Perjanjian Kredit Sindikasi In accordance with the Syndicated Term-Loan
Berjangka tanggal 22 Juli 2022, PT Bank SMBC Facility Agreement dated July 22, 2022, PT Bank
Indonesia Tbk (sebelumnya PT Bank BTPN Tbk), SMBC Indonesia Tbk (formerly PT Bank BTPN
PT Bank CIMB Niaga Tbk, PT Bank KB Bukopin Tbk), PT Bank CIMB Niaga Tbk, PT Bank KB
Tbk, The Korea Development Bank, Cabang Bukopin Tbk, The Korea Development Bank,
Singapura, PT Bank Mandiri (Persero) Tbk, Singapore Branch, PT Bank Mandiri (Persero)
Mizuho Bank, Ltd., PT Bank Mizuho Indonesia, Tbk, Mizuho Bank, Ltd., PT Bank Mizuho
Oversea-Chinese Banking Corporation Limited, Indonesia, Oversea-Chinese Banking
RHB Bank Berhad, Bank of China (Hong Kong) Corporation Limited, RHB Bank Berhad, Bank of
Limited, Bank of China (Hong Kong) Limited China (Hong Kong) Limited, Bank of China (Hong
Cabang Jakarta, DBS Bank Ltd., dan Sumitomo Kong) Limited Jakarta Branch, DBS Bank Ltd.,
Mitsui Banking Corporation Cabang Singapura and Sumitomo Mitsui Banking Corporation
sebagai original mandate lead arrangers and Singapore Branch as original mandated lead
bookrunners (Kredit Sindikasi Berjangka XII) arrangers and bookrunners (Syndicated Term-
setuju untuk memberikan fasilitas kredit kepada Loan XII) agreed to provide a credit facility to the
Perusahaan dengan jumlah maksimum sebesar Company at the maximum amount of
AS$327.000.000. US$327,000,000.
Dalam mengelola risiko yang berkaitan dengan In managing the risk associated with the
fluktuasi mata uang asing dan tingkat bunga fluctuation of foreign currency and floating
mengambang dari pinjaman sindikasi ini, interest rate of this syndicated loan, the
Perusahaan menggunakan instrumen keuangan Company uses derivative financial instruments to
derivatif untuk melindungi risiko tersebut hedge the risks (Note 16).
(Catatan 16).
Selain itu, selama masa berlakunya perjanjian In addition, during the period of the loan, the
ini, Perusahaan harus memelihara rasio Company is required to maintain financial ratios
keuangan sebagai berikut: as follows:
Pembatasan Keuangan Financial Covenants
Interest coverage ratio : min. 1,25 : 1 : Interest coverage ratio
Net Debt to equity ratio : maks. 10 : 1 : Net Debt to equity ratio
Non performing assets : 5% from total financing receivables : Non performing assets
Borrower’s equity : Rp1 trillion : Borrower’s equity
Perusahaan menerima fasilitas Kredit Sindikasi The Company obtained Syndicated Term-Loan
Berjangka (Seri A) dari beberapa kreditur facility (Tranche A) from the lenders such as
diantaranya Oversea-Chinese Banking Oversea-Chinese Banking Corporation Limited,
Corporation Limited, RHB Bank Berhad, Bank of RHB Bank Berhad, Bank of China (Hong Kong)
China (Hong Kong) Limited, DBS Bank Ltd, Limited, DBS Bank Ltd, Australia and New
Australia and New Zealand Banking Group Zealand Banking Group Limited, and Sumitomo
Limited, and Sumitomo Mitsui Trust Bank, Mitsui Trust Bank, Limited Singapore Branch.
Limited Cabang Singapura.
73
251
Page 272
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. UTANG BANK (lanjutan) 11. BANK LOANS (continued)
Kredit berjangka (lanjutan) Term-loans (continued)
b. Kredit Sindikasi Berjangka XII (lanjutan) b. Syndicated Term-Loan XII (continued)
Perusahaan menerima fasilitas Kredit Sindikasi The Company obtained Syndicated Term-Loan
Berjangka (Seri B) dari beberapa kreditur facility (Tranche B) from the lenders such as
diantaranya PT Bank SMBC Indonesia Tbk PT Bank SMBC Indonesia Tbk (formerly PT Bank
(sebelumnya PT Bank BTPN Tbk), PT Bank BTPN Tbk), PT Bank CIMB Niaga Tbk, PT Bank
CIMB Niaga Tbk, PT Bank KB Bukopin Tbk, PT KB Bukopin Tbk, PT Bank Mandiri (Persero) Tbk,
Bank Mandiri (Persero) Tbk, PT Bank Mizuho PT Bank Mizuho Indonesia, The Korea
Indonesia, The Korea Development Bank, Development Bank, Singapore Branch, Bank of
Cabang Singapura, Bank of China (Hong Kong) China (Hong Kong) Limited Jakarta Branch, and
Limited Cabang Jakarta, dan PT Bank KEB Hana PT Bank KEB Hana Indonesia.
Indonesia.
c. Kredit Sindikasi Berjangka XI c. Syndicated Term-Loan XI
Berdasarkan Perjanjian Kredit Sindikasi In accordance with the Syndicated Term-Loan
Berjangka tanggal 4 Mei 2021, Bank of China Facility Agreement dated May 4, 2021, Bank of
(Hong Kong) Limited, DBS Bank Ltd., The Korea China (Hong Kong) Limited, DBS Bank Ltd., The
Development Bank, Cabang Singapura, Mizuho Korea Development Bank, Singapore Branch,
Bank, Ltd., Oversea-Chinese Banking Mizuho Bank, Ltd., Oversea-Chinese Banking
Corporation Limited, RHB Bank Berhad, Corporation Limited, RHB Bank Berhad,
Sumitomo Mitsui Banking Corporation Cabang Sumitomo Mitsui Banking Corporation
Singapura, PT Bank SMBC Indonesia Tbk Singapore Branch, PT Bank SMBC Indonesia
(sebelumnya PT Bank BTPN Tbk), PT Bank Tbk (formerly PT Bank BTPN Tbk), PT Bank
Mandiri (persero) Tbk, Cabang Singapura, PT Mandiri (persero) Tbk, Singapore Branch, PT
Bank Mizuho Indonesia, dan PT Bank UOB Bank Mizuho Indonesia, and PT Bank UOB
Indonesia sebagai original mandate lead Indonesia as original mandated lead arrangers
arrangers and bookrunners (Kredit Sindikasi and bookrunners (Syndicated Term-Loan XI)
Berjangka XI) setuju untuk memberikan fasilitas agreed to provide a credit facility to the
kredit kepada Perusahaan dengan jumlah Company at the maximum amount of
maksimum sebesar AS$270.000.000. US$270,000,000.
Dalam mengelola risiko yang berkaitan dengan In managing the risk associated with the
fluktuasi mata uang asing dan tingkat bunga fluctuation of foreign currency and floating
mengambang dari pinjaman sindikasi ini, interest rate of this syndicated loan, the
Perusahaan menggunakan instrumen keuangan Company uses derivative financial instruments
derivatif untuk melindungi risiko tersebut (Catatan to hedge the risks (Note 16).
16).
Selain itu, selama masa berlakunya perjanjian In addition, during the period of the loan, the
ini, Perusahaan harus memelihara rasio Company is required to maintain financial ratios
keuangan sebagai berikut: as follows:
Pembatasan Keuangan Financial Covenants
Interest coverage ratio : min. 1,25 : 1 : Interest coverage ratio
Net Debt to equity ratio : maks. 10 : 1 : Net Debt to equity ratio
Non performing assets : 5% from total financing receivables : Non performing assets
Borrower’s equity : Rp1 trillion : Borrower’s equity
Perusahaan menerima fasilitas Kredit Sindikasi The Company obtained Syndicated Term-Loan
Berjangka (Seri A) dari beberapa kreditur facility (Tranche A) from the lenders such as
diantaranya Bank of China (Hong Kong) Limited, Bank of China (Hong Kong) Limited, CTBC Bank
CTBC Bank Co., Ltd., Cabang Singapura, DBS Co., Ltd., Singapore Branch, DBS Bank Ltd.,
Bank Ltd., Oversea-Chinese Banking Oversea-Chinese Banking Corporation Limited,
Corporation Limited, dan RHB Bank Berhad. and RHB Bank Berhad.
Perusahaan menerima fasilitas Kredit Sindikasi The Company obtained Syndicated Term-Loan
Berjangka (Seri B) dari beberapa kreditur facility (Tranche B) from the lenders such as
diantaranya Bank of China (Hong Kong) Limited Bank of China (Hong Kong) Limited Jakarta
Cabang Jakarta, The Korea Development Bank, Branch, The Korea Development Bank,
Cabang Singapura, PT Bank SMBC Indonesia Singapore Branch, PT Bank SMBC Indonesia
Tbk (sebelumnya PT Bank BTPN Tbk), PT Bank Tbk (formerly PT Bank BTPN Tbk), PT Bank
CTBC Indonesia, PT Bank Mandiri (Persero) CTBC Indonesia, PT Bank Mandiri (Persero)
Tbk., Cabang Singapura, PT Bank Mizuho Tbk., Singapore Branch, PT Bank Mizuho
Indonesia dan PT Bank UOB Indonesia. Indonesia, and PT Bank UOB Indonesia.
Pinjaman ini telah dilunasi pada tanggal This loan has been fully paid on January 17,
17 Januari 2025. 2025.
74
252
Page 273
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. UTANG BANK (lanjutan) 11. BANK LOANS (continued)
Kredit berjangka (lanjutan) Term-loans (continued)
d. Kredit Sindikasi Berjangka X d. Syndicated Term-Loan X
Berdasarkan Perjanjian Kredit Sindikasi In accordance with the Syndicated Term-Loan
Berjangka tanggal 31 Maret 2020, Bank of China Facility Agreement dated March 31, 2020, Bank
(Hong Kong) Limited, The Korea Development of China (Hong Kong) Limited, The Korea
Bank, Cabang Singapura, PT Bank Maybank Development Bank, Singapore Branch, PT Bank
Indonesia Tbk, Mizuho Bank, Ltd., Oversea- Maybank Indonesia Tbk, Mizuho Bank, Ltd.,
Chinese Banking Corporation Limited, RHB Bank Oversea-Chinese Banking Corporation Limited,
Berhad, RHB Securities Singapore Pte. Ltd., RHB Bank Berhad, RHB Securities Singapore
Sumitomo Mitsui Banking Corporation Cabang Pte. Ltd., Sumitomo Mitsui Banking Corporation
Singapura, PT Bank SMBC Indonesia Tbk Singapore Branch, PT Bank SMBC Indonesia
(sebelumnya PT Bank BTPN Tbk) dan Sumitomo Tbk (formerly PT Bank BTPN Tbk) and
Mitsui Trust Bank, Ltd., Singapura sebagai Sumitomo Mitsui Trust Bank, Ltd., Singapore as
original mandate lead arrangers and bookrunners original mandated lead arrangers and
(Kredit Sindikasi Berjangka X) setuju untuk bookrunners (Syndicated Term-Loan X) agreed
memberikan fasilitas kredit kepada Perusahaan to provide a credit facility to the Company at the
dengan jumlah maksimum sebesar maximum amount of US$240,000,000.
AS$240.000.000.
Selanjutnya, pada tanggal 13 Agustus 2020, Furthermore, on August 13, 2020, the Company
Perusahaan bersama-sama dengan original together with original mandated lead arrangers
mandate lead arrangers and bookrunners (Kredit and bookrunners (Syndicated Term-Loan X),
Sindikasi Berjangka X) dan lembaga-lembaga including the financial institutions as enumerated
keuangan seperti disebutkan dalam perjanjian in the facility agreement, agreed to change The
tersebut, setuju untuk merubah Perjanjian Kredit Syndicated Term Loan Facilities Agreement
Sindikasi Berjangka tanggal 31 Maret 2020, dated March 31, 2020, to providing a credit
untuk memberikan fasilitas kredit dengan jumlah facility at the maximum amount of
maksimum sebesar AS$255.000.000. US$255,000,000.
Dalam mengelola risiko yang berkaitan dengan In managing the risk associated with the
fluktuasi mata uang asing dan tingkat bunga fluctuation of foreign currency and floating
mengambang dari pinjaman sindikasi ini, interest rate of this syndicated loan, the
Perusahaan menggunakan instrumen keuangan Company uses derivative financial instruments
derivatif untuk melindungi risiko tersebut to hedge the risks (Note 16).
(Catatan 16).
Selain itu, selama masa berlakunya perjanjian In addition, during the period of the loan, the
ini, Perusahaan harus memelihara rasio Company is required to maintain financial ratios
keuangan sebagai berikut: as follows:
Pembatasan Keuangan Financial Covenants
Interest coverage ratio : min. 1,25 : 1 : Interest coverage ratio
Net Debt to equity ratio : maks. 10 : 1 : Net Debt to equity ratio
Non performing assets : 5% from total financing receivables : Non performing assets
Borrower’s equity : Rp1 trillion : Borrower’s equity
Perusahaan menerima fasilitas Kredit Sindikasi The Company obtained Syndicated Term-Loan
Berjangka (Seri A) dari beberapa kreditur facility (Tranche A) from the lenders such as
diantaranya Bank of China (Hong Kong) Limited, Bank of China (Hong Kong) Limited, The Korea
The Korea Development Bank, Cabang Development Bank, Singapore Branch, Oversea-
Singapura, Oversea-Chinese Banking Chinese Banking Corporation Limited, RHB Bank
Corporation Limited, RHB Bank Berhad dan Berhad and Sumitomo Mitsui Trust Bank,
Sumitomo Mitsui Trust Bank, Limited, Cabang Limited, Singapore Branch.
Singapura.
Perusahaan menerima fasilitas Kredit Sindikasi The Company obtained Syndicated Term-Loan
Berjangka (Seri B) dari beberapa kreditur facility (Tranche B) from the lenders such as
diantaranya Bank of China (Hong Kong) Limited Bank of China (Hong Kong) Limited Jakarta
Cabang Jakarta, PT Bank Maybank Indonesia Branch, PT Bank Maybank Indonesia Tbk, PT
Tbk, PT Bank Mizuho Indonesia, dan PT Bank Bank Mizuho Indonesia and PT Bank SMBC
SMBC Indonesia Tbk (sebelumnya PT Bank Indonesia Tbk (formerly PT Bank BTPN Tbk).
BTPN Tbk).
75
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. UTANG BANK (lanjutan) 11. BANK LOANS (continued)
Kredit berjangka (lanjutan) Term-loans (continued)
d. Kredit Sindikasi Berjangka X (lanjutan) d. Syndicated Term-Loan X (continued)
Perusahaan menerima fasilitas Kredit Sindikasi The Company obtained Syndicated Term-Loan
Berjangka (Seri C) dari beberapa kreditur facility (Tranche C) from the lenders such as First
diantaranya First Commercial Bank, Offshore Commercial Bank, Offshore Banking Branch and
Banking Branch dan Chang Hwa Commercial Chang Hwa Commercial Bank Ltd., Offshore
Bank Ltd., Offshore Banking Branch. Banking Branch.
Pinjaman ini telah dilunasi pada tanggal This loan has been fully paid on February 22,
22 Februari 2024. 2024.
Kredit modal kerja Working capital loans
Berikut ini adalah tabel rincian dari fasilitas pinjaman The following are the details of working capital loans
kredit modal kerja yang diterima dalam Rupiah: facility in Rupiah:
Batas
maksimum
kredit/
Maximum Periode/Period
Nama bank/ Fasilitas/ credit limit Cicilan pokok/
Bank name Facility (in millions Rupiah) Awal/Start Akhir/End Principal installment
Pembayaran penuh
pada saat jatuh tempo/
PT Bank Mandiri 27 Agustus 2015/ 26 Agustus 2025/ Bullet payment
(Persero) Tbk I 400.000 August 27, 2015 August 26, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
27 Februari 2017/ 21 Mei 2025/ Bullet payment
PT Bank Permata Tbk I 100.000 February 27, 2017 May 21, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank CIMB 22 Desember 2014/ 1 Desember 2025/ Bullet payment
Niaga Tbk I 350.000* December 22, 2014 December 1, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank CTBC 18 September 2014/ 30 September 2025/ Bullet payment
Indonesia I 150.000* September 18, 2014 September 30, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank 5 Juni 2015/ 24 Mei 2025/ Bullet payment
Nationalnobu Tbk I 100.000 June 5, 2015 May 24, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
22 Mei 2024/ 22 Agustus 2024/ Bullet payment
II 200.000 May 22, 2024 August 22, 2024 on due date
Pembayaran penuh
PT Bank SMBC Indonesia Tbk pada saat jatuh tempo/
(Sebelumnya/formerly 18 Maret 2016/ 31 Maret 2025/ Bullet payment
PT Bank BTPN Tbk) I 500.000* March 18, 2016 March 31, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank Pan 22 Maret 2010/ 22 Maret 2025/ Bullet payment
Indonesia Tbk I 800.000* March 22, 2010 March 22, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank Danamon 19 September 2007/ 9 Januari 2025/ Bullet payment
Indonesia Tbk I 400.000* September 19, 2007 January 9, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank Mizuho 28 Oktober 2013/ 28 Oktober 2025/ Bullet payment
Indonesia I 200.000* October 28, 2013 October 28, 2025 on due date
[
76
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. UTANG BANK (lanjutan) 11. BANK LOANS (continued)
Kredit modal kerja (lanjutan) Working capital loans (continued)
Berikut ini adalah tabel rincian dari fasilitas pinjaman The following are the details of working capital loans
kredit modal kerja yang diterima dalam Rupiah: facility in Rupiah: (continued)
(lanjutan)
Batas
maksimum
kredit/
Maximum Periode/Period
Nama bank/ Fasilitas/ credit limit Cicilan pokok/
Bank name Facility (in millions Rupiah) Awal/Start Akhir/End Principal installment
Pembayaran penuh
pada saat jatuh tempo/
PT Maybank 27 Mei 2011/ 27 Mei 2025/ Bullet payment
Indonesia Tbk I 300.000* May 27, 2011 May 27, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank Victoria 28 November 2014/ 28 November 2025/ Bullet payment
International Tbk I 20.000 November 28, 2014 November 28, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank DBS 6 Januari 2017/ 30 September 2025/ Bullet payment
Indonesia I 100.000* January 6, 2017 September 30, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank Ina 11 Agustus 2020/ 11 Agustus 2025/ Bullet payment
Perdana Tbk I 20.000 August 11, 2020 August 11, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank Hibank 29 Agustus 2024/ 29 Agustus 2025/ Bullet payment
Indonesia I 200.000 August 29, 2024 August 29, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank HSBC 12 Desember 2024/ 12 Desember 2025/ Bullet payment
Indonesia I 100.000* December 12, 2024 December 12, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
Citibank N.A. 16 Desember 2024/ 16 Desember 2025/ Bullet payment
Cabang Jakarta I 300.000* December 16, 2024 December 16, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
25 Maret 2021/ 18 Oktober 2025/ Bullet payment
PT Bank Jago Tbk I 300.000 March 25, 2021 October 18, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank Jtrust 24 Agustus 2021/ 27 Agustus 2024/ Bullet payment
Indonesia Tbk I 100.000 August 24, 2021 August 27, 2024 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank Digital BCA 4 Juli 2022/ 4 Juli 2025/ Bullet payment
I 100.000 July 4, 2022 July 4, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
MUFG Bank, Ltd 15 Juni 2023/ 15 Desember 2025/ Bullet payment
I 400.000* June 15, 2023 December 15, 2025 on due date
*Fasilitas dapat digunakan dalam mata uang Dollar A.S dan/atau Rupiah/The facility may be utilized in US Dollar and/or Rupiah currencies
Perusahaan membayar suku bunga tahunan The Company paid annual interest rate for Rupiah
fasilitas pinjaman dalam Rupiah 5,95% - 7,60% loan facility 5.95% - 7.60% for the year 2024 and
untuk tahun 2024 dan 5,45% - 7,65% untuk tahun 5.45% - 7.65% for the year 2023.
2023.
77
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Page 276
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. UTANG BANK (lanjutan) 11. BANK LOANS (continued)
Kredit modal kerja (lanjutan) Working capital loans (continued)
Berikut ini adalah tabel rincian dari fasilitas pinjaman The following are the details of working capital loans
kredit modal kerja yang diterima dalam Dolar AS: facilities in US Dollar:
Batas
maksimum
kredit/ Periode/Period
Nama bank/ Fasilitas/ Maximum Cicilan pokok/
Bank name Facility credit limit Awal/Start Akhir/End Principal installment
Pembayaran penuh
pada saat jatuh tempo/
PT Bank ANZ AS$15.000.000*/ 30 November 2017/ 30 April 2025/ Bullet payment
Indonesia I US$15,000,000* November 30, 2017 April 30, 2025 on due date
*Fasilitas dapat digunakan dalam mata uang Dollar A.S dan/atau Rupiah/The facility may be utilized in US Dollar and/or Rupiah currencies
**Suku bunga tahunan untuk fasilitas pinjaman dalam Rupiah/Annual interest rate for Indonesian Rupiah loan facility
Perusahaan membayar suku bunga fasilitas The Company paid annual interest rate for Rupiah
pinjaman dalam Rupiah tahunan sebesar Nil dan loan facility of Nil and 7.50% for the year 2024 and
7,50% untuk tahun 2024 dan 2023. 2023.
Kredit rekening koran Overdraft
Berikut ini adalah tabel rincian dari fasilitas pinjaman The following are the details of overdraft facilities in
kredit rekening koran yang diterima dalam Rupiah: Rupiah:
Batas
maksimum
kredit/
Maximum Periode/Period
Nama bank/ Fasilitas/ credit limit Cicilan pokok/
Bank name Facility (in millions Rupiah) Awal/Start Akhir/End Principal installment
Pembayaran penuh
pada saat jatuh tempo/
PT Bank Central 22 November 2010/ 22 Februari 2025/ Bullet payment
Asia Tbk I 30.000 November 22, 2010 February 22, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
PT Bank Danamon 19 Januari 2010/ 9 Januari 2025/ Bullet payment
Indonesia Tbk I 10.000 January 19, 2010 January 9, 2025 on due date
Pembayaran penuh
pada saat jatuh tempo/
JP Morgan Chase Bank, 16 Maret 2020/ 18 Maret 2025/ Bullet payment
N.A., Cabang Jakarta I 200.000 March 16, 2020 March 18, 2025 on due date
Suku bunga tahunan untuk pinjaman dalam Rupiah Annual interest rate for Rupiah loan facility is 7.00%
adalah 7,00% - 7,64% untuk tahun 2024 dan 5,07% - 7.64% for the year 2024 and 5.07% - 7.16% for the
- 7,16% untuk tahun 2023. year 2023.
,
78
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. UTANG BANK (lanjutan) 11. BANK LOANS (continued)
Pada tanggal 31 Desember 2024, seluruh fasilitas As of December 31, 2024 there is no collateral
pinjaman kredit modal kerja dan kredit rekening provided (clean basis) for working capital loans and
koran tidak memiliki jaminan (clean basis). overdraft facilities. While for Term Loan Facility,
Sedangkan untuk fasilitas pinjaman berjangka, except Syndicated Term Loan XII, Syndicated Term
kecuali Kredit Sindikasi Berjangka XII, Kredit Loan XIII, Term Loan V and VI from PT Bank Pan
Sindikasi Berjangka XIII, Kredit Berjangka V dan VI Indonesia Tbk, Term Loan from PT Bank Maybank
dari PT Bank Pan Indonesia Tbk, Kredit Berjangka Indonesia Tbk, Term Loan from PT Bank BTPN
dari PT Bank Maybank Indonesia Tbk, Kredit Syariah Tbk, Term Loan from PT Bank Jago Tbk,
Term Loan from PT Bank IBK Indonesia Tbk, Term
Berjangka dari PT Bank BTPN Syariah Tbk, Kredit
Loan from PT Bank Danamon Indonesia Tbk, Term
Berjangka dari PT Bank Jago Tbk, Kredit Berjangka Loan from MUFG Bank, Ltd and Term Loan II from
dari PT Bank IBK Indonesia Tbk, Kredit Berjangka PT Bank Oke Indonesia Tbk, all of the loan facilities
dari PT Bank Danamon Indonesia Tbk, Kredit are secured by consumer financing receivables and
Berjangka dari MUFG Bank, Ltd dan Kredit finance lease receivables with an aggregat amount
Berjangka II dari PT Bank Oke Indonesia Tbk of not less than 50% of the principal amount of bank
dijamin dengan piutang pembiayaan konsumen dan loans.
piutang sewa pembiayaan yang nilai seluruhnya
tidak kurang dari 50% dari jumlah pokok pinjaman
terutang.
As of December 31, 2023 there is no collateral
Pada tanggal 31 Desember 2023, seluruh fasilitas provided (clean basis) for working capital loans and
pinjaman kredit modal kerja dan kredit rekening overdraft facilities. While for Term Loan Facility,
koran tidak memiliki jaminan (clean basis). except Syndicated Term Loan XII, Syndicated Term
Sedangkan untuk fasilitas pinjaman berjangka, Loan XIII, Term Loan V from PT Bank Pan Indonesia
kecuali Kredit Sindikasi Berjangka XII, Kredit Tbk, Term Loan from PT Bank Jago Tbk, Term Loan
Sindikasi Berjangka XIII, Kredit Berjangka V dari PT from PT Bank IBK Indonesia Tbk, Term Loan from
Bank Pan Indonesia Tbk, Kredit Berjangka dari PT PT Bank Danamon Indonesia Tbk, Term Loan from
Bank Jago Tbk, Kredit Berjangka dari PT Bank IBK MUFG Bank, Ltd and Term Loan II from PT Bank
Oke Indonesia Tbk, all of the loan facilities are
Indonesia Tbk, Kredit Berjangka dari PT Bank
secured by consumer financing receivables and
Danamon Indonesia Tbk, Kredit Berjangka dari
finance lease receivables with an aggregat amount
MUFG Bank, Ltd dan Kredit Berjangka II dari PT of not less than 50% of the principal amount of bank
Bank Oke Indonesia Tbk, dijamin dengan piutang loans.
pembiayaan konsumen dan piutang sewa
pembiayaan yang nilai seluruhnya tidak kurang dari
50% dari jumlah pokok pinjaman terutang.
In addition, during the period of the loans above, the
Selain itu, selama masa berlakunya perjanjian- Company is required to maintain financial ratios as
perjanjian di atas, Perusahaan harus memelihara follows:
rasio keuangan sebagai berikut:
Pembatasan Keuangan Financial Covenants
Debt to equity ratio : 10 : 1 : Debt to equity ratio
Total Net Debt to equity ratio : 10 : 1 : Total Net Debt to equity ratio
Non performing assets/loan : 5% : Non performing assets/loan
Interest service coverage ratio : min. 1,25 : 1 : Interest service coverage ratio
AR to total assets : min. 40% : AR to total assets
Tangible net worth : min Rp1.000.000 : Tangible net worth
Ownership : min. 51% : Ownership
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, interest and
pembayaran bunga dan pokok pinjaman telah principal loan payments have been paid by the Company
dibayarkan Perusahaan sesuai dengan jadwal. on schedule.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the Company has
Perusahaan telah memenuhi batasan-batasan yang complied with all the loan covenants of the loan facilities
diwajibkan dalam seluruh perjanjian-perjanjian referred to above.
pinjaman di atas.
79
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. UTANG BANK (lanjutan) 11. BANK LOANS (continued)
Rincian utang bank pada tanggal 31 Desember The details of bank loans as of December 31, 2024
2024 menurut tahun jatuh temponya adalah sebagai by year of maturity are as follows:
berikut:
2025 2026 2027 2028 2029 Jumlah/Total
Kredit berjangka Term-loans
Kredit Sindikasi Berjangka XIII 770.742 710.125 710.125 374.725 - 2.565.717 Syndicated Term-Loan XIII
Kredit Sindikasi Berjangka XII 1.793.246 730.719 - - - 2.523.965 Syndicated Term-Loan XII
Kredit Sindikasi Berjangka XI 107.747 - - - - 107.747 Syndicated Term-Loan XI
Jago 300.500 300.500 256.750 196.333 42.750 1.096.833 Jago
Panin 316.667 166.667 44.444 - - 527.778 Panin
OK 200.000 200.000 - - - 400.000 OK
MUFG 90.912 - - - - 90.912 MUFG
IBK 37.376 40.198 21.223 - - 98.797 IBK
Jtrust 53.630 23.434 - - - 77.064 Jtrust
Permata 52.083 - - - - 52.083 Permata
Hana 11.111 - - - - 11.111 Hana
Muamalat 17.674 - - - - 17.674 Muamalat
BTPN Syariah 34.551 - - - - 34.551 BTPN Syariah
Kredit modal kerja Working capital loans
Mandiri 400.000 - - - - 400.000 Mandiri
MUFG 400.000 - - - - 400.000 MUFG
CIMB Niaga 350.000 - - - - 350.000 CIMB Niaga
HIBank 200.000 - - - - 200.000 HIBank
Mizuho 200.000 - - - - 200.000 Mizuho
BCA Digital 100.000 - - - - 100.000 BCA Digital
Victoria 20.000 - - - - 20.000 Victoria
Total 5.456.239 2.171.643 1.032.542 571.058 42.750 9.274.232 Total
12. BEBAN AKRUAL 12. ACCRUED EXPENSES
Beban akrual terdiri dari: Accrued expenses consist of:
31 Desember/December 31
2024 2023
Bunga utang bank 57.426 68.860 Bank loans interest
Bunga utang obligasi (Catatan 15) 14.442 9.733 Bonds payable interest (Note 15)
Lain-lain 36.499 82.941 Others
Total 108.367 161.534 Total
13. PERPAJAKAN 13. TAXATION
Utang pajak terdiri dari: Taxes payable consist of:
31 Desember/December 31
2024 2023
Utang pajak penghasilan - Income tax payable -
Pasal 29 119 28.064 Article 29
Pajak penghasilan Income taxes
Pasal 21 913 2.746 Article 21
Pasal 23/26 2.225 1.111 Article 23/26
Pasal 25 2.678 4.438 Article 25
Pasal 4(2) 248 152 Article 4(2)
Pajak Pertambahan Nilai 385 409 Value Added Tax
Total 6.568 36.920 Total
80
258
Page 279
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
[
13. PERPAJAKAN (lanjutan) 13. TAXATION (continued)
Rincian beban pajak penghasilan - neto yang Details of income tax expense - net reported in the
dilaporkan pada laporan laba rugi dan penghasilan statement of profit or loss and other comprehensive
komprehensif lain adalah sebagai berikut: income are as follows:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Pajak penghasilan Income tax
Tahun berjalan 73.467 82.822 Current year
Tahun sebelumnya 4.822 6.479 Previous years
Pajak Tangguhan Deferred tax
Tahun berjalan (5.930) (1.184) Current year
Beban Pajak Penghasilan - Neto Income Tax Expense - Net
per Laporan Laba Rugi dan per Statement of Profit or Loss
Penghasilan Komprehensif Lain 72.359 88.117 and Other Comprehensive Income
Rekonsiliasi antara laba sebelum beban pajak A reconciliation between income before income tax
penghasilan menurut laporan laba rugi dan expense as shown in the statement of profit or loss
penghasilan komprehensif lain dengan estimasi and other comprehensive income and estimated
penghasilan kena pajak adalah sebagai berikut: taxable income is as follows:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Income before income tax expense
Laba sebelum beban pajak penghasilan as shown in the statements
menurut laporan laba rugi dan of profit or loss and
penghasilan komprehensif lain 487.824 361.529 other comprehensive income
Beda temporer Temporary differences
Cadangan kerugian penurunan Allowance for
nilai piutang 25.610 - impairment losses on receivables
Penyisihan imbalan kerja karyawan 1.930 3.281 Provision for employee benefits
Aset hak guna 53 1.791 Right of used asset
Aset tetap (664) 310 Fixed assets
Cadangan kerugian penurunan Allowance for
kas dan bank 28 - impairment losses on cash and bank
Beda tetap Permanent differences
Beban pajak final atas Final tax expense
pendapatan bunga dan sewa 5.222 1.784 of interest and rent income
Denda pajak 4.376 2.149 Tax penalty
Sumbangan 345 1.400 Donation
Pendapatan lainnya (162.069) - Other income
Pendapatan bunga (23.510) (6.306) Interest income
Pendapatan sewa (5.204) (5.228) Rent income
Cadangan kerugian penurunan Allowance for
nilai piutang - 15.752 impairment losses on receivables
Estimasi Penghasilan Kena Pajak 333.941 376.462 Estimated Taxable Income
81
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
[
13. PERPAJAKAN (lanjutan) 13. TAXATION (continued)
Perhitungan beban pajak penghasilan tahun Calculation of the income tax expense for current
berjalan dan estimasi utang pajak penghasilan year and computation of the estimated income tax
adalah sebagai berikut: payable are as follows:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Estimasi penghasilan kena pajak Estimated taxable income
(dibulatkan) 333.941 376.462 (rounded-off)
Beban pajak penghasilan tahun berjalan Current year income tax expense
berdasarkan tarif pajak yang berlaku 73.467 82.822 based on the applicable tax rates
Dikurangi pajak penghasilan
dibayar di muka (73.348) (54.758) Less prepaid income taxes
Estimasi Utang Pajak Penghasilan Estimated Income Tax Payable
- Pasal 29 119 28.064 - Article 29
Menteri Keuangan Republik Indonesia menerbitkan The Minister of Finance of the Republic of Indonesia
Peraturan Menteri Keuangan ("PMK") No. 74 pada issued Minister of Finance Regulation ("PMK")
tanggal 10 Oktober 2024. Berdasarkan peraturan No. 74 on October 10, 2024. Based on this
tersebut, diatur tentang pembentukan cadangan regulation, it regulates the establishment of
piutang tak tertagih yang boleh dikurangkan dari allowances for bad debts constituting deductible
penghasilan bruto sesuai dengan batasan tertentu expenses with certain limits which implemented
yang mulai diterapkan tanggal 1 Januari 2024. Pada starting January 1, 2024. On January 1, 2024, there
tanggal 1 Januari 2024, terdapat selisih kurang nilai is a less value of allowances per fiscal amounting to
cadangan per fiskal sebesar Rp73.939. Sesuai Rp73,939. In accordance with the provisions in PMK
dengan ketentuan di dalam PMK No. 74, maka No. 74, the Company recognized the less value in
Perusahaan mengakui selisih kurang tersebut di the 2024 income tax calculation.
dalam perhitungan pajak penghasilan tahun 2024.
Penghasilan kena pajak hasil rekonsiliasi untuk Taxable income which is a result from the
tahun 2024 akan digunakan sebagai dasar dalam reconcilia11tion for the year 2024 will be used as
pengisian SPT Tahun 2024 PPh Badan basis in submission of the Company’s 2024 Annual
Perusahaan. Corporate Tax Return.
Penghasilan kena pajak hasil rekonsiliasi untuk Taxable income which is a result from the
tahun 2023 akan digunakan sebagai dasar dalam reconciliation for the year 2023 will be used as basis
pengisian SPT Tahun 2023 PPh Badan in submission of the Company’s 2023 Annual
Perusahaan. Corporate Tax Return.
Rekonsiliasi antara beban pajak penghasilan yang The reconciliation between the income tax expense
dihitung dengan menggunakan tarif pajak yang calculated by applying the applicable tax rates to the
berlaku terhadap laba sebelum beban pajak income before income tax expense and income tax
penghasilan dan beban pajak penghasilan adalah expense is as follows:
sebagai berikut:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Laba sebelum beban pajak penghasilan 487.824 361.529 Income before income tax expense
Beban pajak penghasilan berdasarkan Income tax expense based on
tarif pajak yang berlaku 107.321 79.536 the applicable tax rates
Pengaruh pajak atas beda tetap Tax effects on permanent differences
pada tarif pajak yang berlaku (39.784) 2.102 at the applicable tax rate
Penyesuaian atas pajak penghasilan Adjustments in respect of corporate
badan tahun sebelumnya 4.822 6.479 income tax of previous years
Beban Pajak Penghasilan - Neto 72.359 88.117 Income Tax Expense - Net
82
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Page 281
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
13. PERPAJAKAN (lanjutan) 13. TAXATION (continued)
Tahun Pajak 2018 Fiscal Year 2018
Pada tanggal 21 Juli 2023, Perusahaan menerima On July 21, 2023, the Company received a tax
Surat Ketetapan Pajak Kurang Bayar (SKPKB) dari underpayment letter from the DGT of corporate
DJP atas pajak penghasilan badan tahun pajak income tax for fiscal year 2018 of Rp2,075 and
2018 sebesar Rp2.075 dan denda Rp906. penalty of Rp906. The Company agreed with the
Perusahaan menyetujui ketetapan tersebut dan assessment and fully paid the above underpayment
telah melunasi kurang bayar tersebut di atas pada on August 15, 2023 and booked Rp2,075 and
tanggal 15 Agustus 2023 dan dicatat sebagai bagian Rp906 as part of the 2023 adjustment in respect of
dari penyesuaian atas pajak penghasilan badan corporate income tax of previous years and general
tahun sebelumnya di tahun 2023 dan beban umum and administrative expenses, respectively.
dan administrasi masing-masing sebesar Rp2.075 .
dan Rp906.
Tahun Pajak 2019 Fiscal Year 2019
Pada tanggal 7 November 2023, Perusahaan On November 7, 2023, the Company received a tax
menerima SKPKB dari DJP yang menunjukkan underpayment letter from the Directorate General of
kurang bayar PPh badan tahun buku 2019 sebesar Tax (DGT) indicating an underpayment of corporate
Rp10.492. Perusahaan telah melunasi kekurangan income tax for fiscal year 2019 of Rp10,492. The
pembayaran di atas pada tanggal 5 Desember 2023 Company fully paid the tax underpayment on
dan membebankan sebesar Rp3.564 pada laporan December 5, 2023 and charged Rp3,564 to
laba rugi dan penghasilan komprehensif lainnya di expense in the 2023 statement of profit or loss and
tahun 2023 serta membukukan sebesar Rp6.928 other comprehensive income and booked remaining
sebagai bagian dari tagihan pajak. Pada tanggal 24 amount of Rp6,928 as part of claims for tax refund.
Januari 2024, Perusahaan mengajukan surat On January 24, 2024, the Company submitted an
keberatan kepada DJP atas penilaian tersebut dan objection letter to the DGT for the above
pada tanggal 18 Oktober 2024, DJP menolak assessment and on October 18, 2024, the DGT fully
sepenuhnya keberatan Perusahaan dan menerbitkan rejected the Company’s objection and issued an
tambahan kurang bayar sebesar Rp10.832. additional underpayment of Rp10,832. The
Perusahaan memutuskan untuk tidak membayar Company decided to not pay the underpayment and
kurang bayar dan menghapus tagihan pajak sebesar write-off the claims for tax refund of Rp6,928 as part
Rp6.928 sebagai bagian dari penyesuaian tahun of the 2024 adjustment in respect of corporate
2024 sehubungan dengan PPh badan tahun-tahun income tax of previous years and general and
sebelumnya dan beban umum dan administrasi administrative expenses amounting to Rp4,822 and
masing-masing sebesar Rp4.822 dan Rp2.106. Pada Rp2,106, respectively. On January 13, 2025, the
tanggal 13 Januari 2025, Perusahaan mengajukan Company submitted appeal letter to the Tax Court.
surat banding ke Pengadilan Pajak. Sampai pada As of the completion date of the financial
tanggal penyelesaian laporan keuangan, belum ada statements, no decision has been issued by the Tax
keputusan yang dikeluarkan oleh Pengadilan Pajak Court on the Company’s appeal letter.
atas surat banding Perusahaan.
Tahun Pajak 2020 Fiscal Year 2020
Pada tanggal 22 November 2024, Perusahaan On November 22, 2024, the Company received a
menerima SKPKB dari DJP yang menunjukkan tax underpayment letter from the Directorate
kurang bayar PPh badan tahun buku 2020 sebesar General of Tax (DGT) indicating an underpayment
Rp11.998. Perusahaan membayar sebagian kurang of corporate income tax for fiscal year 2020 of
bayar pajak sebesar Rp11.914 pada tanggal Rp11,998. The Company partially paid the tax
23 Desember 2024 dan dibukukan sebagai bagian underpayment of Rp11,914 on December 23, 2024
dari tagihan pajak. Pada tanggal penyelesaian and booked as part of claims for tax refund. As of
laporan keuangan, Perusahaan sedang dalam the completion date of the financial statements, the
proses untuk menyampaikan surat keberatan. Company is in the process to submit objection letter.
Pada tanggal 22 November 2024, Perusahaan On November 22, 2024, the Company received tax
menerima SKPKB untuk tahun pajak 2020 dari DJP underpayment letter from the Directorate General of
untuk pajak penghasilan Pasal 21, Pasal 23, Pasal 26 Tax (DGT) indicating the underpayment of
dan Pasal 19 masing-masing sebesar Rp12, withholding tax Article 21, Article 23, Article 26 and
Rp15.772, Rp15.215 dan Rp7.587. Perusahaan Article 19 of Rp12, Rp15.772, Rp15.215 and
membayar sebagian kurang bayar pajak sebesar Rp7.587, respectively. The Company partially paid
Rp22.591 dan dibukukan sebagai bagian dari tagihan the tax underpayment of Rp22.591 and booked as
pajak. Pada tanggal penyelesaian laporan keuangan, part of claims for tax refund. As of the completion
Perusahaan sedang dalam proses untuk date of the financial statements, the Company is in
menyampaikan surat keberatan. the process to submit objection letter.
83
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Page 282
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
13. PERPAJAKAN (lanjutan) 13. TAXATION (continued)
Tahun Pajak 2021 Fiscal Year 2021
Pada tanggal 23 September 2023, Perusahaan On September 23, 2023, the Company received a
menerima Surat Permintaan atas Data dan/atau Letter of Request for Data and/or Information
Keterangan (SP2DK) dari DJP atas tahun pajak (SP2DK) from the DGT for the fiscal year 2021. On
2021. Pada tanggal 15 November 2023, Perusahaan November 15, 2023, the Company responded to the
telah memberikan respon atas surat tersebut dan letter and reassessed the corporate income tax
melakukan penilaian kembali atas perhitungan pajak calculation fiscal year 2021. Based on the
penghasilan badan tahun pajak 2021. Berdasarkan calculation, the Company made an additional tax
perhitungan kembali, Perusahaan melakukan payment of Rp997 which booked as part of the 2023
tambahan pembayaran pajak sebesar Rp997 yang adjustment in respect of corporate income tax of
dicatat sebagai bagian dari penyesuaian atas pajak previous years.
penghasilan badan tahun sebelumnya di tahun 2023.
Rincian aset pajak tangguhan neto Perusahaan The details of the Company’s net deferred tax
sebagai berikut: assets are as follows:
31 Desember 2024/December 31, 2024
Dikreditkan
(dibebankan) ke
DIkreditkan ekuitas
(dibebankan) dari penghasilan
ke laba/rugi komprehensif lain/
tahun berjalan/ Credited
Credited (charged) to equity
Saldo awal/ (charged) to from other Saldo akhir/
Beginning income/loss comprehensive Ending
balance for the year income balance
Aset (Liabilitas) Pajak Tangguhan Deferred Tax Assets (Liability)
Lindung nilai arus kas 1.844 - 8.681 10.525 Cash flow hedges
Liabilitas imbalan kerja karyawan 5.101 424 (577) 4.948 Employee benefits liability
Cadangan kerugian penurunan Allowance for impairment losses
nilai kas dan setara kas 60 6 - 66 on cash and cash equivalents
Cadangan kerugian penurunan Allowance for impairment losses
nilai piutang - 5.634 - 5.634 on receivables
Aset tetap (469) (146) - (615) Fixed assets
Aset hak guna 394 12 - 406 Right of used assets
Total 6.930 5.930 8.104 20.964 Total
31 Desember 2023/December 31, 2023
Dikreditkan
(dibebankan) ke
DIkreditkan ekuitas
(dibebankan) dari penghasilan
ke laba/rugi komprehensif lain/
tahun berjalan/ Credited
Credited (charged) to equity
Saldo awal/ (charged) to from other Saldo akhir/
Beginning income/loss comprehensive Ending
balance for the year income balance
Aset (Liabilitas) Pajak Tangguhan Deferred Tax Assets (Liability)
Lindung nilai arus kas 4.863 - (3.019) 1.844 Cash flow hedges
Liabilitas imbalan kerja karyawan 4.755 723 (377) 5.101 Employee benefits liability
Cadangan kerugian penurunan Allowance for impairment losses
nilai kas dan setara kas 60 - - 60 on cash and cash equivalents
Aset tetap (537) 68 - (469) Fixed assets
Aset hak guna - 394 - 394 Right of used assets
Total 9.141 1.185 (3.396) 6.930 Total
84
262
Page 283
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
14. UTANG LAIN-LAIN 14. OTHER PAYABLES
Akun ini terdiri dari: This account consists of:
31 Desember/December 31
2024 2023
Utang asuransi dan lain-lain Insurance and other payables
Pihak ketiga 190.798 125.714 Third parties
Pihak berelasi (Catatan 28d) 5.762 6.486 Related party (Note 28d)
Liabilitas sewa 19.050 36.204 Lease liabilities
Utang dealer Dealer payable
Pihak ketiga 1.184 1.144 Third parties
Utang atas transaksi refinancing KPR dan Payables for refinancing of housing loan and
pembiayaan bersama (Catatan 27) 428 785 joint financing transactions (Note 27)
Total 217.222 170.333 Total
Jumlah beban bunga atas liabilitas sewa sebesar The balances of interest expense from lease
Rp3.112 dan Rp4.450 pada tanggal 31 Desember liabilities amounted to Rp3,112 and Rp4,450 as of
2024 dan 2023. December 31, 2024 and 2023.
Analisis jatuh tempo utang lain-lain terkait sewa The maturity analysis of other payables related to
adalah sebagai berikut: lease is as follows:
31 Desember/December 31
2024 2023
1 tahun 19.050 17.154 1 year
2 - 3 tahun - 19.050 2 - 3 years
Total 19.050 36.204 Total
Perusahaan mengadakan perjanjian refinancing The Company entered into refinancing of housing
KPR dimana utang Perusahaan dicatat sebagai loan agreements, where payables of the Company
utang atas transaksi refinancing (Catatan 27). are recorded as payables for refinancing
transactions (Note 27).
Perusahaan mengadakan kerjasama pembiayaan The Company entered into joint financing
bersama dengan bank, dimana utang Perusahaan agreements with certain banks and the exposure of
yang timbul dalam hubungan dengan perjanjian the Company in relation to the aforesaid
tersebut, dicatat sebagai liabilitas atas transaksi agreements are recorded as payables for joint
pembiayaan bersama (Catatan 27). financing transactions (Note 27).
15. UTANG OBLIGASI 15. BONDS PAYABLE
Akun ini merupakan obligasi yang diterbitkan oleh This account represents bonds issued by the
Perusahaan, dengan PT Bank Mega Tbk (Mega) Company, with PT Bank Mega Tbk (Mega) as the
sebagai wali amanat atas Obligasi Berkelanjutan V bond trustee for Continuous Bond V Phase I, II, III,
Tahap I, II, III dan Obligasi Berkelanjutan IV Tahap and Continuous Bond IV Phase I, II, III with details
I, II, III sebagai berikut: as follows:
31 Desember/December 31
2024 2023
Nilai nominal 4.394.735 2.534.530 Nominal value
Dikurangi biaya emisi Less deferred bonds
obligasi ditangguhkan (8.125) (4.917) issuance costs
Utang obligasi - Neto 4.386.610 2.529.613 Bonds payable - Net
85
263
Page 284
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
15. UTANG OBLIGASI (lanjutan) 15. BONDS PAYABLE (continued)
Sampai dengan 31 Desember 2024, obligasi yang Until December 31, 2024, the bonds issued by the
telah diterbitkan oleh Perusahaan adalah sebagai the Company are as follows:
berikut:
Skedul Tanggal
pembayaran pembayaran
Tanggal bunga/ bunga
emisi/ Interest pertama/
Issuance Nomor surat OJK/ Wali amanat/ payment First interest
Efek utang/Debt securities date OJK Letter number Jumlah/Amount The trustee schedule payment date
Obligasi Berkelanjutan V
Indomobil Finance Indonesia
Tahap I Tahun 2022
(PUB V Tahap I)/
Indomobil Finance Indonesia
Continuous Bonds V Phase I 30 Juni/ Triwulan/ 8 Oktober/
Year 2022 (PUB V Phase I) June 2022 S-109/D.04/2022 600.000 PT Bank Mega Tbk Quarterly October 2022
Obligasi Berkelanjutan V
Indomobil Finance Indonesia
Tahap II Tahun 2023
(PUB V Tahap II)/
Indomobil Finance Indonesia
Continuous Bonds V Phase II 28 Maret/ Triwulan / 28 Juni/
Year 2023 (PUB V Phase II) March 2023 S-109/D.04/2022 1.283.905 PT Bank Mega Tbk Quarterly June 2023
Obligasi Berkelanjutan V
Indomobil Finance Indonesia
Tahap III Tahun 2024
(PUB V Tahap III)/
Indomobil Finance Indonesia
Continuous Bonds V Phase III 21 Juni/ Triwulan / 21 September/
Year 2024 (PUB V Phase III) June 2024 S-109/D.04/2022 2.831.005 PT Bank Mega Tbk Quarterly September 2024
Obligasi Berkelanjutan IV
Indomobil Finance Indonesia
Tahap I Tahun 2020
(PUB IV Tahap I)/
Indomobil Finance Indonesia
Continuous Bonds IV Phase I 4 Agustus/ Triwulan/ 4 November/
Year 2020 (PUB IV Phase I) August 2020 S-199/D.04/2020 336.000 PT Bank Mega Tbk Quarterly November 2020
Obligasi Berkelanjutan IV
Indomobil Finance Indonesia
Tahap II Tahun 2021
(PUB IV Tahap II)/
Indomobil Finance Indonesia
Continuous Bonds IV Phase II 19 November/ Triwulan/ 19 Februari/
Year 2021 (PUB IV Phase II) November 2021 S-199/D.04/2020 1.925.340 PT Bank Mega Tbk Quarterly February 2022
Obligasi Berkelanjutan IV
Indomobil Finance Indonesia
Tahap III Tahun 2022
(PUB IV Tahap III)/
Indomobil Finance Indonesia
Continuous Bonds IV Phase III 25 Maret/ Triwulan/ 25 Juni/
Year 2022 (PUB IV Phase III) March 2022 S-199/D.04/2020 1.738.660 PT Bank Mega Tbk Quarterly June 2022
Obligasi Berkelanjutan III
Indomobil Finance Indonesia
Tahap II Tahun 2018
(PUB III Tahap II)/
Indomobil Finance Indonesia
Continuous Bonds III Phase II 15 Februari/ Triwulan/ 15 Mei/
Year 2018 (PUB III Phase II) February 2018 S-354/D.04/2017 1.082.000 PT Bank Mega Tbk Quarterly May 2018
Obligasi Berkelanjutan III
Indomobil Finance Indonesia
Tahap III Tahun 2018
(PUB III Tahap III)/
Indomobil Finance Indonesia
Continuous Bonds III Phase III 18 Mei/ Triwulan/ 18 Agustus/
Year 2018 (PUB III Phase III) May 2018 S-354/D.04/2017 1.000.000 PT Bank Mega Tbk Quarterly August 2018
86
264
Page 285
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
15. UTANG OBLIGASI (lanjutan) 15. BONDS PAYABLE (continued)
Rincian tingkat bunga dan jatuh tempo masing- Details of interest rates and due dates of each serial
masing seri efek utang yang diterbitkan: of debt securities issued are as follows:
Tahun
penerbitan/ Tingkat bunga
Efek utang/ Year of Nilai nominal/ tetap/Fixed Jatuh tempo/ Cicilan pokok efek utang/
Debt securities issuance Nominal value interest rate Due date Debt securities installment
PUB V Tahap/Phase I
18 Jul/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial A 2022 500.000 4,60% Jul 2023 Bullet payment on due date
8 Jul/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial B 2022 100.000 7,60% Jul 2027 Bullet payment on due date
PUB V Tahap/Phase II
8 Apr/ Pembayaran penuh pada saat jatuh tempo
Seri/Serial A 2023 918.000 6,25% Apr 2024 Bullet payment on due date
28 Mar/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial B 2023 279.585 7,50% Mar 2026 Bullet payment on due date
28 Mar/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial C 2023 86.320 7,75% Mar 2028 Bullet payment on due date
PUB V Tahap/Phase III
1 Jul/ Pembayaran penuh pada saat jatuh tempo
Seri/Serial A 2024 1.404.980 6,85% Jul 2025 Bullet payment on due date
21 Jun/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial B 2024 611.160 7,15% Jun 2027 Bullet payment on due date
21 Jun/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial C 2024 814.865 7,40% Jun 2029 Bullet payment on due date
PUB IV Tahap/Phase I
14 Agu/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial A 2020 229.000 8,45% Aug 2021 Bullet payment on due date
4 Agu/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial B 2020 17.000 9,55% Aug 2023 Bullet payment on due date
4 Agu/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial C 2020 90.000 9,90% Aug 2025 Bullet payment on due date
PUB IV Tahap/Phase II
29 Nov/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial A 2021 1.279.000 4,90% Nov 2022 Bullet payment on due date
19 Nov/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial B 2021 52.800 6,50% Nov 2024 Bullet payment on due date
19 Nov/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial C 2021 593.540 7,50% Nov 2026 Bullet payment on due date
PUB IV Tahap/Phase III
5 Apr/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial A 2022 1.324.375 4,90% Apr 2023 Bullet payment on due date
25 Mar/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial B 2022 382.000 6,50% Mar 2025 Bullet payment on due date
25 Mar/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial C 2022 32.285 7,50% Mar 2027 Bullet payment on due date
87
265
Page 286
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
15. UTANG OBLIGASI (lanjutan) 15. BONDS PAYABLE (continued)
Rincian tingkat bunga dan jatuh tempo masing- Details of interest rates and due dates of each serial
masing seri efek utang yang diterbitkan: (lanjutan) of debt securities issued are as follows: (continued)
Tahun
penerbitan/ Tingkat bunga
Efek utang/ Year of Nilai nominal/ tetap/Fixed Jatuh tempo/ Cicilan pokok efek utang/
Debt securities issuance Nominal value interest rate Due date Debt securities installment
PUB III Tahap/Phase II
25 Februari/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial A 2018 685.000 6,80% February 2019 Bullet payment on due date
15 Februari/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial B 2018 240.000 7,90% February 2021 Bullet payment on due date
15 Februari/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial C 2018 157.000 8,15% February 2023 Bullet payment on due date
[
PUB III Tahap/Phase III
28 Mei/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial A 2018 515.000 6,50% May 2019 Bullet payment on due date
18 Mei/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial B 2018 430.000 8,20% May 2021 Bullet payment on due date
18 Mei/ Pembayaran penuh pada saat jatuh tempo/
Seri/Serial C 2018 55.000 8,45% May 2023 Bullet payment on due date
Masing-masing obligasi ini dijamin dengan jaminan Each bonds are collateralized by the fiduciary
fidusia berupa piutang pembiayaan yang nilai transfers of the Company’s receivables with an
seluruhnya tidak kurang dari 50% dari jumlah pokok aggregate amount of not less than 50% of the
obligasi yang terutang, kecuali Obligasi principal amount of bonds payable, except
Berkelanjutan IV Indomobil Finance Indonesia Indomobil Finance Indonesia Continuous Bonds IV
Tahap II Tahun 2021, Obligasi Berkelanjutan IV Phase II Year 2021, Indomobil Finance Indonesia
Indomobil Finance Indonesia Tahap III Tahun 2022, Continuous Bonds IV Phase III Year 2022,
Obligasi berkelanjutan V Indomobil Finance Indomobil Finance Indonesia Continuous Bonds V
Indonesia Tahap I tahun 2022, Obligasi Phase I Year 2022, Indomobil Finance Indonesia
Berkelanjutan V Indomobil Finance Indonesia Tahap Continuous Bonds V Phase II Year 2023 and
II Tahun 2023, dan Obligasi Berkelanjutan V Indomobil Finance Indonesia Continuous Bonds V
Indomobil Finance Indonesia Tahap III Tahun 2024 Phase III Year 2024 with no spesific collateral. If the
dimana tidak ada jaminan khusus. Apabila Company cannot fulfill the collateral, the Company
Perusahaan tidak dapat memenuhi nilai jaminan, is required to deposit cash to meet the required
Perusahaan wajib melakukan penyetoran uang value of collateral.
tunai (dana) sampai nilai jaminan memenuhi
ketentuan.
Perusahaan juga disyaratkan untuk In addition, the Company is required to maintain
mempertahankan debt to equity ratio tidak lebih dari debt to equity ratio of not more than 10 times.
10 kali.
Sebelum dilunasinya semua pokok dan bunga Prior to the repayment of the bonds principal and
obligasi serta pengeluaran lain yang menjadi interest and other charges which are the
tanggung jawab Perusahaan sehubungan dengan responsibility of the Company in connection with the
penerbitan obligasi, Perusahaan tanpa persetujuan issuance of bonds, the Company, without the
tertulis dari Wali Amanat tidak diperkenankan written consent of the Trustee, shall not, among
melakukan tindakan-tindakan, antara lain: others: merge or acquire, change the scope of main
penggabungan atau pengambilalihan usaha, activities, reduce the authorized and paid up capital,
perubahan bidang usaha utama, pengurangan sell, transfer or dispose of all or part of asset and
modal dasar dan modal disetor, penjualan, grant loans to third parties, except to the Company’s
pengalihan atau pelepasan seluruh atau sebagian subsidiaries, outside the Company’s business
besar aset tetap dan memberikan pinjaman atau activities.
kredit kepada pihak ketiga selain anak Perusahaan
di luar kegiatan usaha.
88
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
15. UTANG OBLIGASI (lanjutan) 15. BONDS PAYABLE (continued)
Sebagaimana dijelaskan dalam informasi tambahan As stated in the additional information of the bonds
penawaran obligasi, seluruh dana perolehan neto offering, all of the net proceeds of bonds shall be
dari penawaran obligasi akan digunakan untuk used as working capital for financing activities.
modal kerja pembiayaan.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the Company
Perusahaan telah melakukan pembayaran bunga paid the bonds interest on schedule as stated in the
obligasi sesuai dengan jatuh tempo yang telah trustee agreements and complied with all the
ditetapkan dalam perjanjian perwaliamanatan dan requirements mentioned in the trustee agreements.
telah memenuhi seluruh persyaratan yang Total principal of bonds have been paid in
disebutkan dalam perjanjian perwaliamanatan. accordance with the respective bonds’ maturity
Jumlah pokok utang obligasi telah dibayarkan dates.
sesuai dengan tanggal jatuh tempo obligasi yang
bersangkutan.
Pada tanggal 31 Desember 2024 dan 2023, piutang As of December 31, 2024 and 2023, consumer
pembiayaan konsumen masing-masing sebesar financing receivables amounting to Rp26,529 and
Rp26.529 dan Rp27.701, digunakan sebagai Rp27,701, respectively, are pledged as collateral to
jaminan atas utang obligasi (Catatan 4). bonds payable (Note 4).
Pada tanggal 31 Desember 2024 dan 2023, piutang As of December 31, 2024 and 2023, finance lease
sewa pembiayaan masing-masing sebesar receivables amounting to Rp18,565 and Rp17,346,
Rp18.565 dan Rp17.346, digunakan sebagai respectively, are pledged as collateral to bonds
jaminan atas utang obligasi (Catatan 5). payable (Note 5).
Seluruh obligasi Perusahaan mendapat peringkat All of the Company’s bonds are rated idAA- (Double
idAA- (Double A Minus) dari PT Pemeringkat Efek A Minus) by PT Pemeringkat Efek Indonesia
Indonesia (“Pefindo”), biro pemeringkat efek (“Pefindo”), an independent credit rating agency,
independen, yang berlaku sampai dengan tanggal 1 which will be valid up to March 1, 2026.
Maret 2026.
Pada tanggal 31 Desember 2024 dan 2023, beban As of December 31, 2024 and 2023, the accrued
bunga obligasi yang terutang masing- bonds interest amounting to Rp14,442 and
masing adalah sebesar Rp14.442 dan Rp9.733, Rp9,733, respectively, are presented as part of
disajikan sebagai bagian dari akun “Beban Akrual” “Accrued Expenses” in the statement of financial
pada laporan posisi keuangan (Catatan 12). Beban position (Note 12). The bonds interest expense
bunga obligasi masing-masing sebesar Rp240.134 amounting to Rp240,134 and Rp190,116 for the
dan 190.116 untuk tahun yang berakhir pada years ended December 31, 2024 and 2023,
tanggal 31 Desember 2024 dan 2023, disajikan respectively, are presented as part of “Financing
sebagai bagian dari akun “Beban Pembiayaan” Charges” in the statement of profit or loss and other
pada laporan laba rugi dan penghasilan comprehensive income (Note 24).
komprehensif lain (Catatan 24).
89
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
16. INSTRUMEN KEUANGAN DERIVATIF 16. DERIVATIVE FINANCIAL INSTRUMENTS
Perusahaan menghadapi risiko pasar, terutama The Company is exposed to market risks, primarily
karena perubahan kurs mata uang asing dan tingkat to changes in foreign currency exchange and
bunga mengambang, dan menggunakan instrumen floating interest rates and uses derivative
derivatif untuk lindung nilai atas risiko tersebut instruments to hedge these risks as part of its risk
sebagai bagian dari manajemen risiko. Perusahaan management activities. The Company does not
tidak memiliki atau menerbitkan instrumen derivatif hold or issue derivative instruments for trading
untuk tujuan-tujuan diperdagangkan. purposes.
Perusahaan melakukan kontrak swap suku bunga The Company entered into interest rate swap
serta kontrak swap mata uang dan suku bunga contracts and cross currency swap contracts with
dengan rincian sebagai berikut: details as follows:
Tanggal
Nama bank/ Nilai kontrak/ perjanjian/
Bank name Contract value Agreement date
________________________________________
12 Juni 2024 – 12 Juni 2028/
PT Bank ANZ Indonesia US$24.900.000 June 12, 2024 – June 12, 2028
12 Juni 2024 – 12 Juni 2028/
PT Bank ANZ Indonesia US$15.100.000 June 12, 2024 – June 12, 2028
17 Mei 2024 – 14 Juni 2024/
PT Bank CIMB Niaga Tbk US$3.200.000 May 17, 2024 – June 14, 2024
31 Januari 2024 – 28 Februari 2024/
PT Bank CIMB Niaga Tbk US$18.500.000 January 31, 2024 – February 28, 2024
25 Juli 2023 – 24 Juli 2026/
PT Bank CIMB Niaga Tbk US$15.623.863 July 25, 2023 – July 24, 2026
6 Juni 2024 – 21 Juni 2024/
PT Bank Danamon Indonesia Tbk US$24.653.313 June 6, 2024 – June 21, 2024
13 April 2023 – 10 April 2026/
PT Bank Danamon Indonesia Tbk US$11.697.248 April 13, 2023 – April 10, 2026
13 April 2023 – 10 April 2026/
PT Bank Danamon Indonesia Tbk US$18.302.752 April 13, 2023 – April 10, 2026
30 November 2022 – 28 November 2025/
PT Bank Danamon Indonesia Tbk US$15.878.000 November 30, 2022 – November 28, 2025
23 Oktober 2024 – 23 Oktober 2028/
PT Bank DBS Indonesia US$7.550.000 October 23, 2024 – October 23, 2028
23 Oktober 2024 – 23 Oktober 2028/
PT Bank DBS Indonesia US$12.450.000 October 23, 2024 – October 23, 2028
12 April 2023 – 10 April 2026/
PT Bank DBS Indonesia US$7.798.165 April 12, 2023 – April 10, 2026
12 April 2023 – 10 April 2026/
PT Bank DBS Indonesia US$12.201.835 April 12, 2023 – April 10, 2026
27 Januari 2023 – 27 Januari 2026/
PT Bank DBS Indonesia US$18.302.752 January 27, 2023 – January 27, 2026
27 Januari 2023 – 27 Januari 2026/
PT Bank DBS Indonesia US$11.697.248 January 27, 2023 – January 27, 2026
21 Juni 2023 – 21 Juni 2026/
PT Bank Mandiri (Persero) Tbk US$9.151.376 June 21, 2023 – Juni 21, 2026
21 Juni 2023 – 21 Juni 2026/
PT Bank Mandiri (Persero) Tbk US$5.848.625 June 21, 2023 – Juni 21, 2026
12 April 2023 – 10 April 2026/
PT Bank Mandiri (Persero) Tbk US$18.302.752 April 12, 2023 – April 10, 2026
12 April 2023 – 10 April 2026/
PT Bank Mandiri (Persero) Tbk US$11.697.248 April 12, 2023 – April 10, 2026
90
268
Page 289
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
16. INSTRUMEN KEUANGAN DERIVATIF (Lanjutan) 16. DERIVATIVE FINANCIAL INSTRUMENTS
(Continued)
Perusahaan melakukan kontrak swap suku bunga The Company entered into interest rate swap
serta kontrak swap mata uang dan suku bunga contracts and cross currency swap contracts with
dengan rincian sebagai berikut: (Lanjutan) details as follows: (Continued)
Tanggal
Nama bank/ Nilai kontrak/ perjanjian/
Bank name Contract value Agreement date
________________________________________
25 Agustus 2022 – 25 Agustus 2025/
PT Bank Mandiri (Persero) Tbk US$2.500.000 August 25, 2022 – August 25, 2025
25 Agustus 2022 – 25 Agustus 2025/
PT Bank Mandiri (Persero) Tbk US$9.701.835 August 25, 2022 – August 25, 2025
25 Agustus 2022 – 25 Agustus 2025/
PT Bank Mandiri (Persero) Tbk US$7.798.165 August 25, 2022 – August 25, 2025
23 September 2021 – 20 September 2024/
PT Bank Mandiri (Persero) Tbk US$28.700.000 September 23, 2021 – September 20, 2024
28 Mei 2021 – 24 Mei 2024/
PT Bank Mandiri (Persero) Tbk US$22.960.000 May 28, 2021 – May 24, 2024
20 November 2024 – 20 November 2028/
PT Bank Maybank Indonesia Tbk US$12.450.000 November 20, 2024 – November 20, 2028
20 November 2024 – 20 November 2028/
PT Bank Maybank Indonesia Tbk US$7.550.000 November 20, 2024 – November 20, 2028
1 Februari 2024 – 1 Februari 2028/
PT Bank Maybank Indonesia Tbk US$49.800.000 February 1, 2024 – February 1, 2028
1 Februari 2024 – 1 Februari 2028/
PT Bank Maybank Indonesia Tbk US$30.200.000 February 1, 2024 – February 1, 2028
26 Juli 2023 – 25 Juli 2026/
PT Bank Maybank Indonesia Tbk US$10.000.000 July 26, 2023 – July 25, 2026
22 Juni 2023 – 21 Juni 2026/
PT Bank Maybank Indonesia Tbk US$7.798.165 June 22, 2023 – June 21, 2026
22 Juni 2023 – 21 Juni 2026/
PT Bank Maybank Indonesia Tbk US$12.201.835 June 22, 2023 – June 21, 2026
12 April 2023 – 10 April 2026/
PT Bank Maybank Indonesia Tbk US$11.697.248 April 12, 2023 – April 10, 2026
12 April 2023 – 10 April 2026/
PT Bank Maybank Indonesia Tbk US$18.302.752 April 12, 2023 – April 10, 2026
27 Januari 2023 – 26 Januari 2026/
PT Bank Maybank Indonesia Tbk US$7.798.165 January 27, 2023 – January 26, 2026
27 Januari 2023 – 26 Januari 2026/
PT Bank Maybank Indonesia Tbk US$12.201.835 January 27, 2023 – January 26, 2026
19 April 2022 – 18 Januari 2025/
PT Bank Maybank Indonesia Tbk US$34.060.000 April 19, 2022 – January 18, 2025
23 September 2021 – 20 September 2024/
PT Bank Maybank Indonesia Tbk US$21.300.000 September 23, 2021 – September 20, 2024
25 Agustus 2021 – 23 Agustus 2024/
PT Bank Maybank Indonesia Tbk US$21.300.000 August 25, 2021 – August 23, 2024
28 Juli 2021 – 26 Juli 2024/
PT Bank Maybank Indonesia Tbk US$21.300.000 July 28, 2021 – July 26, 2024
25 Februari 2021 – 23 Februari 2024/
PT Bank Maybank Indonesia Tbk US$10.000.000 February 25, 2021 – February 23, 2024
91
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
16. INSTRUMEN KEUANGAN DERIVATIF (Lanjutan) 16. DERIVATIVE FINANCIAL INSTRUMENTS
(Continued)
Perusahaan melakukan kontrak swap suku bunga The Company entered into interest rate swap
serta kontrak swap mata uang dan suku bunga contracts and cross currency swap contracts with
dengan rincian sebagai berikut: (lanjutan) details as follows: (continued)
Tanggal
Nama bank/ Nilai kontrak/ perjanjian/
Bank name Contract value Agreement date
________________________________________
28 Mei 2021 – 24 Mei 2024/
PT Bank Permata Tbk US$15.040.000 May 28, 2021 – May 24, 2024
28 Mei 2021 – 24 Mei 2024/
PT Bank Permata Tbk US$2.000.000 May 28, 2021 – May 24, 2024
22 Juni 2023 – 21 Juni 2026/
PT Bank Rakyat Indonesia Tbk US$12.201.835 June 22, 2023 – June 21, 2026
22 Juni 2023 – 21 Juni 2026/
PT Bank Rakyat Indonesia Tbk US$7.798.165 June 22, 2023 – June 21, 2026
19 September 2024 – 19 September 2028/
PT Bank UOB Indonesia US$12.450.000 September 19, 2024 – September 19, 2028
19 September 2024 – 19 September 2028/
PT Bank UOB Indonesia US$7.550.000 September 19, 2024 – September 19, 2028
25 Juli 2023 – 24 Juli 2026/
PT Bank UOB Indonesia US$16.376.137 July 25, 2023 – July 24, 2026
12 April 2023 – 10 April 2026/
PT Bank UOB Indonesia US$11.697.248 April 12, 2023 – April 10, 2026
12 April 2023 – 10 April 2026/
PT Bank UOB Indonesia US$18.302.752 April 12, 2023 – April 10, 2026
26 Januari 2023 – 26 Januari 2026/
PT Bank UOB Indonesia US$7.798.165 January 26, 2023 – January 26, 2026
26 Januari 2023 – 26 Januari 2026/
PT Bank UOB Indonesia US$12.201.835 January 26, 2023 – January 26, 2026
18 Januari 2022 – 21 Januari 2025/
PT Bank UOB Indonesia US$45.940.000 January 18, 2022 – January 21, 2025
24 Agustus 2021 – 23 Agustus 2024/
PT Bank UOB Indonesia US$28.700.000 August 24, 2021 – August 23, 2024
27 Juli 2021 – 26 Juli 2024/
PT Bank UOB Indonesia US$28.700.000 July 27, 2021 – July 26, 2024
24 Februari 2021 – 23 Februari 2024/
PT Bank UOB Indonesia US$8.947.368 February 24, 2021 – Februari 23, 2024
24 Februari 2021 – 23 Februari 2024/
PT Bank UOB Indonesia US$11.052.632 February 24, 2021 – Februari 23, 2024
29 Desember 2022 – 28 November 2025
MUFG Bank, Ltd. US$10.144.278 December 29, 2022 – November 28, 2025
92
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
16. INSTRUMEN KEUANGAN DERIVATIF (Lanjutan) 16. DERIVATIVE FINANCIAL INSTRUMENTS
(Continued)
Rincian dari kontrak-kontrak derivatif tersebut The details of the outstanding derivative contracts at
dengan nilai wajar pada tanggal 31 Desember 2024 their fair values as of December 31, 2024 and 2023,
dan 2023, adalah sebagai berikut: are as follows:
31 Desember/December 31, 2024
Notional Amount Derivative receivables
(in US Dollar) (in Rupiah)
Cross currency interest rate swap
PT Bank Maybank Indonesia Tbk 127.005.000 84.628
PT Bank UOB Indonesia 55.464.413 59.022
PT Bank DBS Indonesia 42.500.000 36.002
PT Bank Mandiri (Persero) Tbk 27.500.000 35.514
PT Bank Danamon Indonesia Tbk 15.000.000 17.245
PT Bank CIMB Niaga Tbk 9.113.920 10.015
MUFG Bank, Ltd. 4.851.611 1.456
Total 243.882
31 Desember/December 31, 2024
Notional Amount Derivative payables
(in US Dollar) (in Rupiah)
Cross currency interest rate swap
PT Bank Rakyat Indonesia Tbk 10.000.000 25.235
PT Bank ANZ Indonesia 35.000.000 5.535
Total 30.770
31 Desember/December 31, 2023
Notional Amount Derivative receivables
(in US Dollar) (in Rupiah)
Cross currency interest rate swap
PT Bank Maybank Indonesia Tbk 96.833.333 61.629
PT Bank UOB Indonesia 90.169.792 59.321
PT Bank Mandiri (Persero) Tbk 60.168.333 43.589
PT Bank DBS Indonesia 39.166.667 14.744
PT Bank Danamon Indonesia Tbk 25.000.000 11.853
PT Bank CIMB Niaga Tbk 14.321.875 4.722
PT Bank Permata Tbk 2.840.000 3.080
Total 198.938
31 Desember/December 31, 2023
Notional Amount Derivative payables
(in US Dollar) (in Rupiah)
Cross currency interest rate swap
PT Bank Danamon Indonesia Tbk 35.904.277 6.580
PT Bank CIMB Niaga Tbk 21.700.000 1.859
PT Bank Rakyat Indonesia Tbk 16.666.667 1.712
Total 10.151
93
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
16. INSTRUMEN KEUANGAN DERIVATIF (lanjutan) 16. DERIVATIVE FINANCIAL INSTRUMENTS
(continued)
Perusahaan membayar bunga cross currency swap For the cross currency interest rate swap, the
dengan suku bunga tetap yang berkisar antara Company agreed to pay interest with annual fixed
5,70% sampai dengan 7,65% pada tahun 2024 dan rates ranging from 5.70% to 7.65% in 2024 and
5,63% sampai dengan 7,42% pada tahun 2023. from 5.63% to 7.42% in 2023. The contract period
Jangka waktu kontrak cross currency swap berkisar of cross currency swap contracts ranged maximum
maksimal 4 tahun. to 4 years.
Kontrak swap mata uang dan suku bunga The Company’s cross currency and interest rate
Perusahaan telah memenuhi kriteria dan berlaku swap contracts are designated as effective cash
efektif sebagai lindung nilai arus kas. Oleh flow hedges. Therefore, the fair values of the
karenanya, nilai wajar instrumen lindung nilai yang hedging instruments which has not yet affected the
belum mempengaruhi laba rugi disajikan pada profit or loss are presented under other
penghasilan komprehensif lain di bagian ekuitas. comprehensive income in the equity section. The
Aset atau liabilitas terkait yang timbul dari transaksi related assets or liabilities arising from the swap
swap tersebut disajikan pada piutang atau utang transactions are presented under derivative
derivatif. receivables or payables.
Perubahan neto nilai wajar kontrak derivatif yang The net change in fair value of derivative contracts
dihitung sebagai lindung nilai arus kas sebesar accounted for under cash flow hedges amounted to
(Rp30.780) dan Rp10.703, masing-masing pada (Rp30,780) and Rp10,703 in 2024 and 2023,
tahun 2024 dan 2023, dan disajikan sebagai bagian respectively, and presented as part of “Other
dari “Penghasilan Komprehensif Lain”, dalam Comprehensive Income”, under statement of
laporan perubahan ekuitas. changes in equity.
Beban transaksi-transaksi derivatif - neto sebesar Charges on derivative transactions - net amounting
(Rp56.192) dan Rp107.784 masing-masing pada to (Rp56,192) and Rp107,784 in 2024 and 2023,
tahun 2024 dan 2023, dan disajikan sebagai akun respectively, are presented as “Financing Charges
“Beban Pembiayaan - Beban Transaksi Swap - - Charges on Swap Transactions - net” account in
neto” pada laporan laba rugi dan penghasilan the statement of profit or loss and other
komprehensif lain (Catatan 24). comprehensive income (Note 24).
Kerugian kumulatif dari perubahan nilai wajar Cumulative losses arising from the changes in
instrumen derivatif yang ditujukan sebagai lindung fair value of derivative instrument designated
nilai arus kas disajikan dalam ekuitas masing- as cash flow hedge is presented in equity amounting
masing sebesar Rp37.317 (neto pajak) dan Rp6.537 to Rp37,317 (net of tax) and Rp6,537 (net of tax) as
(neto pajak) pada tanggal 31 Desember 2024 dan of December 31, 2024 and 2023, respectively.
2023.
17. MODAL SAHAM 17. SHARE CAPITAL
Pemegang saham Perusahaan, jumlah saham The Company’s shareholders, the number of issued
ditempatkan dan disetor penuh dan saldo modal and fully paid shares, and the related balances as of
saham pada tanggal 31 Desember 2024 dan 2023, December 31, 2024 and 2023, are as follows:
adalah sebagai berikut:
Jumlah Saham
Ditempatkan dan
Disetor Penuh/ Persentase
Number of Pemilikan/
Shares Issued Percentage of Jumlah/
Pemegang Saham and Fully Paid Ownership Amount Shareholders
PT Indomobil Multi Jasa Tbk (IMJ) 1.041.052 99,91% 1.041.052 PT Indomobil Multi Jasa Tbk (IMJ)
PT IMG Sejahtera Langgeng 948 0,09% 948 PT IMG Sejahtera Langgeng
Total 1.042.000 100% 1.042.000 Total
94
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. MODAL SAHAM (lanjutan) 17. SHARE CAPITAL (continued)
Perusahaan dipersyaratkan untuk memelihara The Company is required by the respective loan
tingkat permodalan tertentu oleh perjanjian agreements to maintain the level of existing share
pinjaman. Persyaratan permodalan eksternal capital. This externally imposed capital requirement
tersebut telah dipenuhi oleh Perusahaan untuk has been complied with by the Company for the
tahun yang berakhir pada tanggal-tanggal years ended December 31, 2024 and 2023. In
31 Desember 2024 dan 2023. Selain itu, addition, the Company is also required by the
Perusahaan juga dipersyaratkan oleh Undang- Corporate Law effective August 16, 2007 to
undang Perseroan Terbatas efektif tanggal contribute to and maintain a non-distributable
16 Agustus 2007 untuk mengkontribusikan sampai reserve fund until the said reserve reach 20% of the
dengan 20% dari modal saham ditempatkan dan issued and fully paid share capital. This externally
disetor penuh ke dalam dana cadangan yang tidak imposed capital requirement will be considered by
boleh didistribusikan. Persyaratan permodalan the Company in its next Annual General
eksternal tersebut akan dipertimbangkan oleh Shareholders Meeting (AGM).
Perusahaan dalam Rapat Umum Pemegang Saham
(RUPS) berikutnya.
Untuk memelihara dan menyesuaikan struktur To maintain or adjust the capital structure, the
permodalan, Perusahaan dapat menyesuaikan Company may adjust the dividend payment to
pembayaran dividen kepada pemegang saham, shareholders, return capital to shareholders or issue
imbalan modal kepada pemegang saham atau new shares. No changes were made in the policies
menerbitkan saham baru. Tidak ada perubahan atas or processes during the years ended December 31,
kebijakan maupun proses untuk tahun yang berakhir 2024 and 2023.
pada tanggal-tanggal 31 Desember 2024 dan 2023.
18. SALDO LABA DAN DIVIDEN 18. RETAINED EARNINGS AND DIVIDENDS
Berdasarkan Keputusan Edaran Dewan Komisaris Based on the Circular Resolution of Board of
dan Direksi Perusahaan sebagai pengganti Rapat Commissioners and Directors in lieu of Meeting of
Dewan Komisaris dan Direksi pada tanggal Board of Commissioners and Directors dated
17 Desember 2024, para pemegang saham December 17, 2024, the shareholders approved the
menyetujui pembayaran dividen kas sebesar payment of cash dividends amounting to Rp50,000.
Rp50.000. Dividen tersebut telah dibayar pada The dividend has been paid on December 24, 2024.
tanggal 24 Desember 2024.
Berdasarkan Keputusan Edaran Pemegang Saham Based on the Circular Resolution of
Perusahaan sebagai pengganti Rapat Umum the Shareholders as the replacement of Annual
Pemegang Saham Tahunan untuk Tahun Buku General Meeting of Shareholders Year 2023 dated
2023 pada tanggal 17 Mei 2024, para pemegang May 17, 2024, the shareholders approved the
saham menyetujui berikut ini: following, among others:
- Pembayaran dividen kas tahap 1 sebesar - Payment of cash dividends phase 1 amounting to
Rp75.000. Dividen tersebut telah dibayar pada Rp75,000. The dividend has been paid on
tanggal 26 Oktober 2023. October 26, 2023.
- Pembayaran dividen kas tahap 2 sebesar - Payment of cash dividends phase 2 amounting to
Rp25.000. Dividen tersebut telah dibayar pada Rp25,000. The dividend has been paid on May
tanggal 20 Mei 2024; dan 20, 2024; and
- Alokasi dari laba neto tahun 2023 sebesar - Appropriation of Rp100 from the Company’s
Rp100, sebagai dana cadangan. Dana cadangan 2023 net income as reserve fund. Reserve fund
disajikan sebagai “Saldo Laba - Telah Ditentukan is presented as “Retained Earnings -
Penggunaannya” pada laporan posisi keuangan. Appropriated” in the statement of financial
position.
95
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
18. SALDO LABA DAN DIVIDEN (lanjutan) 18. RETAINED EARNINGS AND DIVIDENDS
(continued)
Berdasarkan Keputusan Edaran Pemegang Saham Based on the Circular Resolution of
Perusahaan sebagai pengganti Rapat Umum the Shareholders as the replacement of Annual
Pemegang Saham Tahunan untuk Tahun Buku General Meeting of Shareholders Year 2022 dated
2022 pada tanggal 17 Mei 2023, para pemegang May 17, 2023, the shareholders approved the
saham menyetujui berikut ini: following, among others:
- Pembayaran dividen kas sebesar Rp11.985. - Payment of cash dividends amounting to
Dividen tersebut telah dibayar pada tanggal 26 Rp11,985. The dividend has been paid on May
Mei 2023; dan 26, 2023; and
- Alokasi dari laba neto tahun 2022 sebesar - Appropriation of Rp100 from the Company’s
Rp100, sebagai dana cadangan. Dana 2022 net income as reserve fund. Reserve fund
cadangan disajikan sebagai “Saldo Laba - Telah is presented as “Retained Earnings -
Ditentukan Penggunaannya” pada laporan Appropriated” in the statement of financial
posisi keuangan. position.
19. PENDAPATAN PEMBIAYAAN KONSUMEN 19. CONSUMER FINANCING INCOME
Rincian pendapatan pembiayaan konsumen dari The details of consumer financing income from third
pihak ketiga dan pihak berelasi adalah sebagai parties and related parties are as follows:
berikut:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Pihak ketiga 1.192.470 907.161 Third parties
Pihak berelasi (Catatan 28b) 1.275 1.203 Related parties (Note 28b)
Total 1.193.745 908.364 Total
Pendapatan pembiayaan konsumen termasuk biaya Consumer financing income includes net
proses pembiayaan neto yang diakui sebesar financing process cost amounting to Rp293,152 and
Rp293.152 dan Rp295.047, masing-masing pada Rp295,047 in 2024 and 2023, respectively.
tahun 2024 dan 2023.
Untuk tahun yang berakhir pada tanggal-tanggal For the years ended December 31, 2024 and 2023,
31 Desember 2024 dan 2023, tidak ada transaksi there is no consumer financing transaction made to
pembiayaan konsumen kepada satu pelanggan any single party with cumulative income exceeding
yang jumlah pendapatan kumulatif tahunannya 10% of total consumer financing income.
melebihi 10% dari total pendapatan pembiayaan
konsumen.
96
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
20. PENDAPATAN SEWA PEMBIAYAAN 20. FINANCE LEASE INCOME
Rincian pendapatan sewa pembiayaan dari pihak The details of finance lease income from third
ketiga dan pihak berelasi adalah sebagai berikut: parties and related parties are as follows:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Pihak ketiga 898.182 1.136.576 Third parties
Pihak berelasi (Catatan 28c) 31.413 49.422 Related parties (Note 28c)
Total 929.595 1.185.998 Total
Untuk tahun yang berakhir pada tanggal-tanggal For the years ended December 31, 2024 and 2023,
31 Desember 2024 dan 2023, tidak ada transaksi there is no finance lease transaction made to any
sewa pembiayaan kepada satu pelanggan yang single party with cumulative income exceeding 10%
jumlah pendapatan kumulatif tahunannya melebihi of total finance lease income.
10% dari total pendapatan sewa pembiayaan.
21. PENDAPATAN ANJAK PIUTANG 21. FACTORING INCOME
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Pihak ketiga 2.079 8.010 Third parties
Untuk tahun yang berakhir pada tanggal-tanggal For the years ended December 31, 2024 and 2023,
31 Desember 2024 dan 2023, tidak ada transaksi there is no factoring transaction made to any single
anjak piutang kepada satu pelanggan yang jumlah party with cumulative income exceeding 10% of
pendapatan kumulatif tahunannya melebihi 10% total factoring income.
dari total pendapatan anjak piutang.
22. PENDAPATAN BUNGA, LABA PENJUALAN 22. INTEREST INCOME, GAIN ON SALE OF FIXED
ASET TETAP DAN PENDAPATAN LAIN-LAIN ASSETS AND OTHER INCOME
Akun ini terdiri dari: This account consists of:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Pendapatan bunga - rekening giro dan Interest income - current accounts
deposito berjangka (Catatan 3) 23.510 6.306 and time deposits (Note 3)
Pendapatan sewa 5.204 5.228 Rent income
Laba penjualan aset tetap (Catatan 9) 4.260 3.686 Gain on sale of fixed assets (Note 9)
Pendapatan lain-lain 22.055 22.552 Other income
Total 55.029 37.772 Total
Beban pajak final sehubungan dengan pendapatan The final tax expense related to interest income
bunga adalah sebesar dan Rp4.702 dan Rp1.261 amounted to Rp4,702 and Rp1,261 for the years
masing-masing untuk tahun yang berakhir pada ended December 31, 2024 and 2023, respectively.
tanggal 31 Desember 2024 dan 2023.
97
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
22. PENDAPATAN BUNGA, LABA PENJUALAN 22. INTEREST INCOME, GAIN ON SALE OF FIXED
ASET TETAP DAN PENDAPATAN LAIN-LAIN ASSETS AND OTHER INCOME (continued)
(lanjutan)
Beban pajak final sehubungan dengan pendapatan The final tax expense related to rent income
sewa adalah sebesar Rp520 dan Rp523 masing- amounted to Rp520 and Rp523 for the years ended
masing untuk tahun yang berakhir pada tanggal December 31, 2024 and 2023, respectively.
31 Desember 2024 dan 2023.
Pendapatan lain-lain terutama terdiri dari Other income mainly consists of other
pendapatan administrasi lainnya yang terjadi administration income earned subsequent to
setelah transaksi terkait kontrak pembiayaan. transaction relating to customer contracts.
23. PENDAPATAN DARI PIUTANG YANG TELAH 23. INCOME FROM RECOVERY OF WRITTEN-OFF
DIHAPUSKAN, DENDA KETERLAMBATAN DAN ACCOUNTS, LATE CHARGES AND PENALTIES
PINALTI
Akun ini terdiri dari: This account consists of:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Pendapatan dari piutang yang telah Income from recovery of
dihapuskan 273.201 127.583 written-off accounts
Denda keterlambatan 64.927 76.186 Late charges
Pinalti 13.962 38.580 Penalties
Total 352.090 242.349 Total
Pendapatan denda keterlambatan dan pinalti terjadi Late charges and penalty income occur when
pada saat konsumen melakukan keterlambatan consumers carry out late installment payments and
pembayaran angsuran dan terminasi dini sebelum early termination before the financing period ends.
masa pembiayaan berakhir.
24. BEBAN PEMBIAYAAN - NETO 24. FINANCING CHARGES - NET
Akun ini terdiri dari: This account consists of:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Bunga utang bank dan pinjaman Interest on bank loans and payables
Pihak ketiga 639.134 579.021 Third parties
Bunga obligasi (Catatan 15) 240.134 190.116 Bonds interest (Note 15)
Rugi (laba) selisih kurs - neto 59.405 (104.434) Loss (gain) on foreign exchange - net
Biaya dan provisi 27.868 5.792 Provision and expenses
Amortisasi biaya transaksi Amortization of transaction
pinjaman sindikasi 17.476 21.799 cost syndication loan
Amortisasi biaya emisi obligasi 5.028 6.116 Amortization of bonds issuance cost
Administrasi bank, beban obligasi Bank charges. bonds related
dan lainnya 2.469 2.497 expenses and others
Beban transaksi swap - neto Charges on swap transactions - net
(Catatan 16) (56.192) 107.784 (Note 16)
Total 935.322 808.691 Total
Provisi bank termasuk amortisasi provisi bank yang Bank provision includes amortization of bank
menggunakan suku bunga efektif masing-masing provision using effective interest rate amounting to
sebesar Rp1.779 dan Rp1.451 pada tahun 2024 dan Rp1,779 and Rp1,451 in 2024 and 2023,
[
2023. respectively.
98
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Page 297
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
25. GAJI, TUNJANGAN, DAN BEBAN 25. SALARIES, ALLOWANCES AND EMPLOYEE
KESEJAHTERAAN KARYAWAN BENEFITS EXPENSES
Akun ini terdiri dari: This account consists of:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Gaji 274.269 247.227 Salaries
Kesejahteraan karyawan Employee benefits and other
dan tunjangan lainnya 69.623 63.488 allowances
Iuran pensiun (Catatan 29) 9.850 8.811 Pension contribution (Note 29)
Penyisihan imbalan kerja Provision for employee
karyawan (Catatan 29) 3.611 5.848 service entitlements (Note 29)
Total 357.353 325.374 Total
26. BEBAN UMUM DAN ADMINISTRASI 26. GENERAL AND ADMINISTRATIVE EXPENSES
Akun ini terdiri dari: This account consists of:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Perjalanan 50.435 56.792 Travelling
Jasa keamanan 38.129 38.374 Security
Pemasaran 17.330 23.657 Marketing
Jamsostek 13.089 11.687 Jamsostek
Komunikasi 10.974 10.376 Communication
Jasa pengiriman 10.866 9.352 Courrier
Keanggotaan 8.799 7.995 Membership
Keperluan kantor 7.406 6.710 Office supplies
Denda pajak dan perijinan 6.921 4.136 Taxes and licenses
Edukasi dan training 6.110 12.079 Education and training
Materai 5.881 4.790 Stamp
Listrik dan air 5.771 4.951 Electricity and water
Perbaikan dan pemeliharaan 5.466 5.106 Repairs and maintenance
Sewa 3.075 3.009 Rental
Jasa tenaga ahli 2.841 2.732 Professional fees
Asuransi Insurance
Pihak berelasi (Catatan 28e) 934 836 Related party (Note 28e)
Pihak ketiga 323 191 Third parties
Lain-lain 21.122 18.347 Others
Total 215.472 221.120 Total
27. PERJANJIAN-PERJANJIAN SIGNIFIKAN 27. SIGNIFICANT AGREEMENTS
I. Perjanjian Refinancing I. Refinancing Agreements
Pada tanggal 28 Juli 2017, Perusahaan On July 28, 2017, the Company obtained a
memperoleh fasilitas refinancing Kredit refinancing of housing loan facility from
Pemilikan Rumah (KPR) dari PT Sarana PT Sarana Multigriya Finansial (Persero) with a
Multigriya Finansial (Persero) dengan jumlah maximum amount of Rp20,000. The drawdown
maksimum sebesar Rp20.000. Jangka waktu period of the facility is up to December 31, 2017,
penarikan fasilitas ini sampai dengan tanggal with maximum term of receivables is 15 (fifteen)
31 Desember 2017, dengan jangka waktu years starting from drawdown date.
pinjaman paling lama 15 (lima belas) tahun
sejak tanggal pencairan pinjaman.
99
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. PERJANJIAN-PERJANJIAN SIGNIFIKAN 27. SIGNIFICANT AGREEMENTS (continued)
(lanjutan)
I. Perjanjian Refinancing (lanjutan) I. Refinancing Agreements (continued)
Fasilitas ini dikenakan suku bunga tetap This facility bears fixed annual interest rate at
tahunan sebesar 9,00% selama 5 (lima) tahun 9.00% for 5 (five) years starting from drawdown
terhitung sejak tanggal pencairan pinjaman dan date and the interest rate will be adjusted every
akan dilakukan penyesuaian suku bunga setiap 5 (five) years.
5 (lima) tahun.
Pada tanggal 16 Oktober 2018, Perusahaan On October 16, 2018, the Company obtained a
memperoleh fasilitas refinancing Kredit refinancing of housing loan facility from
Pemilikan Rumah (KPR) dari PT Sarana PT Sarana Multigriya Finansial (Persero) with a
Multigriya Finansial (Persero) dengan jumlah maximum amount of Rp10,000. The drawdown
maksimum sebesar Rp10.000. Jangka waktu period of the facility is up to December 31, 2018,
penarikan fasilitas ini sampai dengan tanggal 31 with maximum term of receivables is 15 (fifteen)
Desember 2018, dengan jangka waktu years starting from drawdown date.
pinjaman paling lama 15 (lima belas) tahun
sejak tanggal pencairan pinjaman.
Pada tanggal 21 Mei 2019, Perusahaan kembali On May 21, 2019, the Company obtained a
memperoleh fasilitas refinancing Kredit refinancing of housing loan facility from
Pemilikan Rumah (KPR) dari PT Sarana PT Sarana Multigriya Finansial (Persero). The
Multigriya Finansial (Persero). Jangka waktu maximum term of receivables of this facility is
pinjaman fasilitas ini paling lama 15 (lima belas) 15 (fifteen) years starting from drawdown date.
tahun sejak tanggal pencairan pinjaman.
Fasilitas refinancing Kredit Pemilikan Rumah Refinancing of housing loan facility given to a
diberikan kepada konsumen dengan jumlah customer with a maximum amount of Rp700.
maksimum sebesar Rp700.
Pada tanggal 21 Mei 2021, Perusahaan On May 21, 2021, the Company obtained a
memperoleh fasilitas refinancing Kredit refinancing of housing loan facility from PT
Pemilikan Rumah (KPR) dari PT Sarana Sarana Multigriya Finansial (Persero). The
Multigriya Finansial (Persero). Jangka waktu maximum term of receivables of this facility is
pinjaman fasilitas ini paling lama 15 (fifteen) years starting from drawdown date.
15 (lima belas) tahun sejak tanggal pencairan
pinjaman.
Fasilitas refinancing Kredit Pemilikan Rumah Refinancing of housing loan facility given to a
diberikan kepada konsumen dengan jumlah customer with a maximum amount of Rp1,000.
maksimum sebesar Rp1.000.
Fasilitas ini dikenakan suku bunga tetap This facility bears fixed annual interest rate at
tahunan sebesar 7,60% selama 5 (lima) tahun 7.60% for 5 (five) years starting from drawdown
terhitung sejak tanggal pencairan pinjaman. date.
Pada tanggal 31 Desember 2024 dan On December 31, 2024 and 2023, payables
2023, utang atas transaksi refinancing related to refinancing transaction with
dengan PT Sarana Multigriya Finansial PT Sarana Multigriya Finansial (Persero)
(Persero) masing-masing adalah sebesar amounted to Rp428 and Rp785, respectively
Rp428 dan Rp785 (Catatan 14). (Note 14).
100
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. PERJANJIAN-PERJANJIAN SIGNIFIKAN 27. SIGNIFICANT AGREEMENTS (continued)
(lanjutan)
II. Perjanjian Kerjasama Pembiayaan Bersama II. Joint Financing Agreements
a. Pada tanggal 2 Januari 2018, Perusahaan a. On January 2, 2018, the Company
memperoleh fasilitas kerjasama obtained joint financing facility from
pembiayaan bersama dari PT Bank CIMB PT Bank CIMB Niaga Tbk, third party, with
Niaga Tbk, pihak ketiga, dengan jumlah a maximum amount of Rp200,000
maksimum sebesar Rp200.000 dimana whereby the Company bears the credit risk
Perusahaan menanggung risiko kredit in accordance with its financing portion.
sesuai dengan porsinya. Porsi fasilitas Portion of joint financing facility is 10.00%
pembiayaan bersama sebesar 10,00% dari from the Company and 90.00% from
Perusahaan dan 90,00% dari PT Bank PT Bank CIMB Niaga Tbk. On June 19,
CIMB Niaga Tbk. Pada tanggal 19 Juni 2024, the Company signed an
2024, Perusahaan menandatangani Amendment to the Joint Financing Facility
Perubahan Ketentuan Fasilitas Terms, where the financing portion is set
Pembiayaan Bersama dimana porsi at 1.00% from the Company and 99.00%
pembiayaan menjadi sebesar 1,00% from PT CIMB Niaga Tbk. The drawdown
Perusahaan dan 99,00% dari PT CIMB period of the facility is up to
Niaga Tbk. Jangka waktu penarikan January 3, 2025.
fasilitas ini sampai dengan tanggal 3
Januari 2025.
Fasilitas ini dikenakan suku bunga tetap This facility bears fixed annual interest
tahunan berkisar antara 6,80% sampai rates ranging from 6.80% to 6.82% in 2024
dengan 6,82% pada tahun 2024 dan 6,80% and 6.80% to 8.90% in 2023.
sampai dengan 8,90% pada tahun 2023.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023,
utang atas piutang pembiayaan konsumen payables related consumer finance
yang termasuk pembiayaan bersama receivables include joint financing with
dengan PT Bank CIMB Niaga Tbk yang PT Bank CIMB Niaga Tbk, managed by
dikelola oleh Perusahaan masing-masing the Company, amounting to Rp2,092 and
adalah sebesar Rp2.092 dan Rp5.793 Rp5,793, respectively (Notes 4).
(Catatan 4).
Syarat dan ketentuan atas fasilitas Terms and conditions for joint financing
kerjasama pembiayaan bersama dari facility from PT Bank CIMB Niaga Tbk is
PT Bank CIMB Niaga Tbk adalah total total financing overdue over than 60 (sixty)
pinjaman jatuh tempo lebih dari 60 (enam days under joint financing scheme with PT
puluh) hari atas transaksi pembiayaan Bank CIMB Niaga Tbk less than or equal to
bersama dengan PT Bank CIMB Niaga Tbk 1%.
adalah kurang dari atau sama
dengan 1%.
b. Pada tanggal 29 Agustus 2022, b. On August 29, 2022, the Company
Perusahaan memperoleh fasilitas obtained joint financing facility from
kerjasama pembiayaan bersama dari PT Bank SMBC Indonesia Tbk (formerly
PT Bank SMBC Indonesia Tbk PT Bank BTPN Tbk), a third party, with a
(sebelumnya PT Bank BTPN Tbk), pihak maximum amount of Rp200,000 whereby
ketiga, dengan jumlah maksimum sebesar the Company bears all the credit risk of
Rp200.000 dimana Perusahaan joint financing. Portion of joint financing
menanggung seluruh risiko kredit facility is 1.00% from the Company and
pembiayaan bersama. Porsi fasilitas 99.00% from PT Bank SMBC Indonesia
pembiayaan bersama sebesar 1,00% dari Tbk (formerly PT Bank BTPN Tbk). The
Perusahaan dan 99,00% dari PT Bank drawdown period of the facility is up to
SMBC Indonesia Tbk (sebelumnya PT August 29, 2025. This facility bears fixed
Bank BTPN Tbk). Jangka waktu penarikan annual interest rates 6.50% in 2024 and
fasilitas ini sampai dengan tanggal 29 6.25% to 6.50% in 2023.
Agustus 2025. Fasilitas ini dikenakan suku
bunga tetap tahunan sebesar 6,50% pada
tahun 2024 dan 6,25% sampai 6,50% pada
tahun 2023.
101
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. PERJANJIAN-PERJANJIAN SIGNIFIKAN 27. SIGNIFICANT AGREEMENTS (continued)
(lanjutan)
II. Perjanjian Kerjasama Pembiayaan Bersama II. Joint Financing Agreements (Continued)
(Lanjutan)
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, payables
utang atas piutang pembiayaan konsumen related consumer finance receivables include
yang termasuk pembiayaan bersama dengan joint financing with
PT Bank SMBC Indonesia Tbk (sebelumnya PT PT Bank SMBC Indonesia Tbk (formerly PT
Bank BTPN Tbk) yang dikelola oleh Bank BTPN Tbk), managed by the Company,
Perusahaan adalah masing-masing sebesar amounting to Rp39 and Rp127, respectively
Rp39 dan Rp127 (Catatan 4). (Notes 4).
Syarat dan ketentuan atas fasilitas kerjasama Terms and conditions for joint financing facility
pembiayaan bersama dari PT Bank SMBC from PT Bank SMBC Indonesia Tbk (formerly
Indonesia Tbk (sebelumnya PT Bank BTPN PT Bank BTPN Tbk) is the maximum net debt
Tbk) adalah jumlah maksimum rasio hutang to equity ratio is 10 times and maximum Non
bersih terhadap total ekuitas sebesar 10 kali Performing Financing (NPF) is 5%.
dan maksimum Non Performing Financing
(NPF) adalah 5%.
III. Perjanjian Lain-lain III. Other Agreements
Perusahaan mengadakan perjanjian kerja The Company entered into agreements
sama dengan PT Asuransi Sinar Mas, with PT Asuransi Sinar Mas, PT Asuransi
PT Asuransi Raksa Pratikara, PT Asuransi Raksa Pratikara, PT Asuransi Wahana Tata,
Wahana Tata, PT Asuransi Cakrawala PT Asuransi Cakrawala Proteksi, PT Asuransi
Proteksi, PT Asuransi Pan Pacific, Pan Pacific, PT Asuransi Tugu Pratama,
PT Asuransi Tugu Pratama, PT Asuransi Tokio PT Asuransi Tokio Marine, PT Sompo
Marine, PT Sompo Insurance Indonesia, Insurance Indonesia, third party insurance
perusahaan asuransi pihak ketiga, dan companies, and PT Asuransi Central Asia
PT Asuransi Central Asia (ACA), pihak berelasi, (ACA), related party, to insure the motor
untuk melindungi kendaraan bermotor yang vehicles which were financed by the Company
dibiayai oleh Perusahaan, antara lain dari risiko from the risks of loss and damages
kehilangan dan kerusakan (Catatan 4 dan 5). (Notes 4 and 5).
28. TRANSAKSI DAN SALDO DENGAN PIHAK- 28. TRANSACTIONS AND BALANCES WITH
PIHAK BERELASI RELATED PARTIES
Dalam kegiatan usaha normal, Perusahaan The Company, in the normal course of business, is
melakukan transaksi dengan pihak-pihak berelasi. engaged in transactions with related parties.
Pihak-pihak berelasi dan sifat hubungan adalah The related parties and nature of relationship are as
sebagai berikut: follows:
Pihak-pihak Berelasi Related Parties
PT Eka Dharma Jaya Sakti, PT Prima Sarana PT Eka Dharma Jaya Sakti, PT Prima Sarana
Gemilang, PT Prima Sarana Mustika, PT Indomobil Gemilang, PT Prima Sarana Mustika, PT Indomobil
Trada Nasional, PT Wahana Wirawan, Trada Nasional, PT Wahana Wirawan,
PT Indosentosa Trada, PT Seino Indomobil PT Indosentosa Trada, PT Seino Indomobil
Logistics, PT Garuda Mataram Motor, PT Wahana Logistics, PT Garuda Mataram Motor, PT Wahana
Inti Selaras, PT Wahana Sun Solo, PT Wahana Sun Inti Selaras, PT Wahana Sun Solo, PT Wahana Sun
Motor Semarang, PT Wahana Senjaya Jakarta, PT Motor Semarang, PT Wahana Senjaya Jakarta, PT
Wahana Sumber Trada Tangerang, PT Wahana Wahana Sumber Trada Tangerang, PT Wahana
Persada Jakarta dan PT Wahana Sumber Lestari Persada Jakarta and PT Wahana Sumber Lestari
Samarinda. Samarinda.
102
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
28. TRANSAKSI DAN SALDO DENGAN PIHAK 28. TRANSACTIONS AND BALANCES WITH
PIHAK BERELASI (Lanjutan) RELATED PARTIES (Continued)
Pihak-pihak berelasi dan sifat hubungan adalah The related parties and nature of relationship are as
sebagai berikut: (lanjutan) follows: (continued)
Sifat Hubungan Pihak Berelasi Nature of Relationship with Related Parties
Perusahaan dan pihak-pihak berelasi dimiliki oleh The Company and related parties owned by the
pemegang saham pengendali yang sama. same controlling shareholder.
Saldo dan transaksi signifikan dengan pihak-pihak The significant balances and transactions with
berelasi adalah sebagai berikut: related parties are as follows:
a. Rincian piutang pembiayaan konsumen dari a. The outstanding consumer financing
pihak berelasi adalah sebagai berikut receivables from related parties are as follows
(Catatan 4): (Note 4):
31 Desember/December 31
2024 2023
PT Eka Dharma Jaya Sakti 7.199 4.085 PT Eka Dharma Jaya Sakti
PT Prima Sarana Mustika 3.127 8.248 PT Prima Sarana Mustika
PT Wahana Sumber Lestari Samarinda 631 - PT Wahana Sumber Lestari Samarinda
Lain-lain (masing-masing di bawah Others (below
Rp500) 2.896 668 Rp500 each)
Total 13.853 13.001 Total
Suku bunga tahunan piutang pembiayaan Consumer financing receivables from related
konsumen dari pihak berelasi dalam Rupiah parties in Rupiah earned annual interest rates
adalah sebesar 10,32% pada tahun 2024 dan of 10.32% in 2024 and 9.90% in 2023.
9,90% pada tahun 2023.
Rincian piutang sewa pembiayaan dari pihak- The outstanding finance lease receivables from
pihak berelasi adalah sebagai berikut related parties are as follows (Note 5):
(Catatan 5):
31 Desember/December 31
2024 2023
PT Seino Indomobil Logistics 151.465 - PT Seino Indomobil Logistics
PT Prima Sarana Gemilang 45.593 121.559 PT Prima Sarana Gemilang
PT Prima Sarana Mustika 1.492 7.618 PT Prima Sarana Mustika
PT Indomobil Trada Nasional - 207.522 PT Indomobil Trada Nasional
PT Wahana Wirawan - 145.262 PT Wahana Wirawan
PT Wahana Sumber Trada Tangerang - 557 PT Wahana Sumber Trada Tangerang
Lain-lain (masing-masing di bawah Others (below
Rp500) 622 2.299 Rp500 each)
Total 199.172 484.817 Total
Suku bunga tahunan piutang sewa pembiayaan Finance lease receivables from related parties
dari pihak berelasi dalam Rupiah berkisar in Rupiah earn annual interest rate ranging from
antara 11,56% sampai dengan 12,45% pada 11.56% to 12.45% in 2024 and from 9.40% to
tahun 2024 dan antara 9,40% sampai dengan 14.18% in 2023.
14,18% pada tahun 2023.
103
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
28. TRANSAKSI DAN SALDO DENGAN PIHAK- 28. TRANSACTIONS AND BALANCES WITH
PIHAK BERELASI (lanjutan) RELATED PARTIES (continued)
Saldo dan transaksi signifikan dengan pihak-pihak The significant balances and transactions with
berelasi adalah sebagai berikut: (lanjutan) related parties are as follows: (continued)
b. Rincian pendapatan pembiayaan konsumen b. The details of consumer financing income from
dari pihak-pihak berelasi adalah sebagai berikut related parties are as follows (Note 19):
(Catatan 19):
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
PT Eka Dharma Jaya Sakti 725 319 PT Eka Dharma Jaya Sakti
PT Prima Sarana Mustika 529 844 PT Prima Sarana Mustika
Lain-lain (masing-masing di bawah Others (below
Rp100) 21 40 Rp100 each)
Total 1.275 1.203 Total
c. Rincian pendapatan sewa pembiayaan dari c. The details of financing lease income from
pihak-pihak berelasi adalah sebagai berikut related parties are as follows (Note 20):
(Catatan 20):
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
PT Indomobil Trada Nasional 11.420 13.163 PT Indomobil Trada Nasional
PT Prima Sarana Gemilang 9.938 18.196 PT Prima Sarana Gemilang
PT Wahana Wirawan 9.438 8.331 PT Wahana Wirawan
PT Prima Sarana Mustika 516 1.295 PT Prima Sarana Mustika
PT Garuda Mataram Motor - 4.760 PT Garuda Mataram Motor
PT Seino Indomobil Logistics - 3.608 PT Seino Indomobil Logistics
Lain-lain (masing-masing di bawah Others (below
Rp100) 101 69 Rp100 each)
Total 31.413 49.422 Total
d. Perusahaan mengadakan perjanjian kerjasama d. The Company entered into agreement with
dengan PT Asuransi Central Asia (ACA) untuk PT Asuransi Central Asia (ACA) to insure the
melindungi kendaraan bermotor yang dibiayai motor vehicles which were financed by the
oleh Perusahaan dari risiko kehilangan dan Company from the risks of loss and damages
kerusakan (Catatan 4 dan 5). Utang asuransi (Notes 4 and 5). The insurance payables to
kepada ACA adalah sebesar Rp5.762 dan ACA amounting to Rp5,762 and Rp6,486 as of
Rp6.486, masing-masing pada tanggal 31 December 31, 2024 and 2023, respectively, are
Desember 2024 dan 2023, yang disajikan presented as part of “Other Payables” in the
sebagai bagian dari akun “Utang Lain-lain” statement of financial position (Note 14).
pada laporan posisi keuangan
(Catatan 14).
e. Perusahaan mempunyai polis asuransi dari e. The Company has insurance policies
PT Asuransi Central Asia (ACA) untuk obtained from PT Asuransi Central Asia (ACA)
melindungi aset tetap Perusahaan covering its fixed assets (Note 9), with
(Catatan 9), dengan nilai pertanggungan combined insurance coverage amounting to
masing-masing sebesar Rp139.224 dan Rp139,224 and Rp95,025 as of December 31,
Rp95.025 pada tanggal 2024 and 2023, respectively. The related
31 Desember 2024 dan 2023. Biaya asuransi insurance expense incurred amounting to
yang terkait masing-masing sebesar Rp934 dan Rp934 and Rp836 in 2024 and 2023,
Rp836 pada tahun 2024 dan 2023, disajikan respectively, are presented as part of “General
sebagai bagian dari “Beban Umum dan and Administrative Expenses” (Note 26).
Administrasi” (Catatan 26).
104
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
28. TRANSAKSI DAN SALDO DENGAN PIHAK- 28. TRANSACTIONS AND BALANCES WITH
PIHAK BERELASI (lanjutan) RELATED PARTIES (continued)
f. Rincian persentase terhadap total aset, f. The details of related parties’ balances
liabilitas, pendapatan, dan beban atas saldo and transactions to total assets, liabilities,
dan transaksi dengan pihak-pihak berelasi revenues, and expenses are as follows:
adalah sebagai berikut:
31 Desember/December 31
2024 2023
Persentase terhadap total aset (%)/
Percentage to total assets (%)
ASET ASSETS
Piutang pembiayaan konsumen Consumer financing receivables
Entitas sepengendali 0,08 0,08 Entities under common control
Piutang sewa pembiayaan Finance lease receivables
Entitas sepengendali 1,19 3,02 Entities under common control
Persentase terhadap total liabilitas (%)/
Percentage to total liabilities (%)
LIABILITAS LIABILITIES
Utang lain-lain Other payables
Pihak-pihak berelasi lainnya 0,04 0,05 Other related parties
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Persentase terhadap total pendapatan (%)/
Percentage to total revenue (%)
PENDAPATAN REVENUES
Pendapatan pembiayaan konsumen Consumer financing income
Entitas sepengendali 0,05 0,05 Entities under common control
Pendapatan sewa pembiayaan Financing lease income
Entitas sepengendali 1,24 2,07 Entities under common control
Persentase terhadap total beban (%)/
Percentage to total expenses (%)
BEBAN EXPENSES
Beban umum dan administrasi General and administrative expenses
Pihak-pihak berelasi lainnya 0,05 0,04 Other related parties
Seluruh transaksi yang signifikan dengan pihak- All significant transactions with related parties are
pihak berelasi dilakukan dengan persyaratan dan conducted under terms and conditions which agreed
kondisi yang disepakati bersama. by both parties.
29. DANA PENSIUN DAN PENYISIHAN IMBALAN 29. PENSION FUND AND PROVISION FOR
KERJA KARYAWAN EMPLOYEE SERVICE ENTITLEMENTS
Perusahaan menyelenggarakan program pensiun The Company has a defined contributory retirement
iuran pasti. Program dana pensiun Perusahaan plan. The Company’s retirement plan is separately
dikelola secara terpisah oleh Dana Pensiun managed by Dana Pensiun Indomobil Group
Indomobil Group (DPIG). Pendirian DPIG telah (DPIG). The establishment of DPIG was approved
disetujui oleh Menteri Keuangan Repulik Indonesia by the Ministry of Finance of Republic Indonesia in
berdasarkan Surat Keputusan No. KEP- its Decision Letter No. KEP-172/KM.6/2003 dated
172/KM.6/2003 tanggal 8 Agustus 2003. August 8, 2003.
105
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
29. DANA PENSIUN DAN PENYISIHAN IMBALAN 29. PENSION FUND AND PROVISION FOR
KERJA KARYAWAN (lanjutan) EMPLOYEE SERVICE ENTITLEMENTS
(continued)
Iuran pensiun masing-masing sebesar Rp9.850 dan Pension contributions amounting to Rp9,850 and
Rp8.811 pada tahun 2024 dan 2023, disajikan Rp8,811 in 2024 and 2023, respectively, are
sebagai bagian dari akun “Gaji, Tunjangan, dan presented as part of “Salaries, Allowances, and
Beban Kesejahteraan Karyawan” pada laporan laba Employee Benefits Expenses” in the statement of
rugi dan penghasilan komprehensif lain (Catatan profit or loss and other comprehensive income (Note
25). 25).
Sebagai tambahan pada program iuran pasti, In addition to the defined contributary plan, the
Perusahaan mencatat penyisihan untuk imbalan Company records the provision for employee
kerja karyawan sebesar Rp22.490 dan Rp23.184 service entitlements amounting to Rp22,490 and
masing-masing pada tanggal 31 Desember 2024 Rp23,184 as of December 31, 2024 and 2023,
dan 2023. Beban kesejahteraan karyawan sebesar respectively. The related employee benefit
Rp3.611 dan Rp5.848 masing-masing pada tahun expenses amounting to Rp3,611 and Rp5,848 in
2024 dan 2023, dan disajikan sebagai bagian dari 2024 and 2023, respectively, are presented as part
akun “Gaji, Tunjangan, dan Beban Kesejahteraan of “Salaries, Allowances, and Employee Benefits
Karyawan” pada laporan laba rugi dan penghasilan Expenses” account in the statement of profit or loss
komprehensif lain (Catatan 25). and other comprehensive income (Note 25).
Penyisihan imbalan kerja karyawan untuk tanggal Provision for employee service entitlements as of
31 Desember 2024 dan 2023 didasarkan pada December 31, 2024 and 2023 were determined
perhitungan aktuaris yang dilakukan oleh aktuaria based on the actuarial calculations performed by
independen Yusi dan Rekan dalam laporan aktuaria independent actuary Yusi and Rekan dated January
tertanggal 10 Januari 2025 dan 24 Januari 2024 10, 2025 and January 24, 2024, respectively, using
dengan menggunakan metode perhitungan the “Projected Unit Credit” actuarial valuation
aktuarial “Projected Unit Credit” yang method which considered the following significant
mempertimbangkan asumsi-asumsi penting berikut: assumptions:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Tingkat bunga diskonto tahunan 6,31% - 7,04% 6.71% - 7.24% Annual discount rate
Tingkat kenaikan gaji tahunan 5,00% 5,00% Annual salary increase rate
Tabel mortalitas TMI - 2019 TMI - 2019 Mortality table
55 tahun/ 55 tahun/
Umur pensiun 55 years old 55 years old Retirement age
Mutasi liabilitas imbalan kerja karyawan adalah The changes in the liability of employee service
sebagai berikut: entitlements are as follows:
31 Desember/December 31
2024 2023
Saldo awal 23.184 21.613 Beginning balance
Jumlah yang diakui di Amount recognized in other
penghasilan komprehensif lain (2.623) (1.710) comprehensive income
Penambahan penyisihan Additional provision
selama tahun berjalan (Catatan 25) 3.611 5.848 during the year (Note 25)
Pembayaran selama tahun berjalan (1.682) (2.567) Payments during the year
Saldo akhir 22.490 23.184 Ending balance
106
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
29. DANA PENSIUN DAN PENYISIHAN IMBALAN 29. PENSION FUND AND PROVISION FOR
KERJA KARYAWAN (lanjutan) EMPLOYEE SERVICE ENTITLEMENTS
(continued)
Beban kesejahteraan karyawan berdasarkan The employee service entitlements expense based
perhitungan aktuaris adalah sebagai berikut: on the actuarial calculations is as follows:
Tahun yang Berakhir pada
Tanggal 31 Desember/
Year Ended December 31
2024 2023
Beban jasa kini 5.405 4.416 Current service cost
Beban bunga 1.491 1.432 Interest cost
Beban jasa lalu (3.285) - Past service cost
Total 3.611 5.848 Total
Mutasi nilai kini liabilitas imbalan kerja adalah Movements of the present value of defined benefits
sebagai berikut: obligation are as follows:
31 Desember/December 31
2024 2023
Saldo awal 23.184 21.613 Beginning balance
Beban jasa kini 5.405 4.416 Current service cost
Beban bunga 1.491 1.432 Interest cost
Keuntungan aktuaria (2.623) (1.710) Actuarial gain
Pembayaran pesangon (1.682) (2.567) Severance payments
Beban jasa lalu (3.285) - Past service cost
Saldo akhir 22.490 23.184 Ending balance
Tabel berikut menunjukkan sensitivitas atas The following table demonstrates the sensitivity to a
kemungkinan perubahan tingkat suku bunga pasar, reasonably possible change in market interest rates,
dengan variabel lain dianggap tetap, terhadap with all other variables held constant, against the
kewajiban imbalan pasca kerja dan beban jasa kini obligation for post-employment and current service
pada tanggal 31 Desember 2024 dan 2023: cost as of December 31, 2024 and 2023:
(tidak diaudit) (unaudited)
31 Desember 2024/
December 31, 2024
Kewajiban
imbalan
pasca kerja/
Obligation for
post-employment
benefits
Kenaikan tingkat diskonto 1% (3.611) Increase 1% in discount rate
Penurunan tingkat diskonto 1% 4.793 Decrease 1% in discount rate
Kenaikan tingkat gaji 1% 4.695 Increase 1% in salary rate
Penurunan tingkat gaji 1% (3.562) Decrease 1% in salary rate
107
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
29. DANA PENSIUN DAN PENYISIHAN IMBALAN 29. PENSION FUND AND PROVISION FOR
KERJA KARYAWAN (lanjutan) EMPLOYEE SERVICE ENTITLEMENTS
(continued)
Tabel berikut menunjukkan sensitivitas atas The following table demonstrates the sensitivity to a
kemungkinan perubahan tingkat suku bunga pasar, reasonably possible change in market interest rates,
dengan variabel lain dianggap tetap, terhadap with all other variables held constant, against the
kewajiban imbalan pasca kerja dan beban jasa kini obligation for post-employment and current service
pada tanggal 31 Desember 2024 dan 2023: cost as of December 31, 2024 and 2023:
(tidak diaudit) (lanjutan) (unaudited) (continued)
31 Desember 2023/
December 31, 2023
Kewajiban
imbalan
pasca kerja/
Obligation for
post-employment
benefits
Kenaikan tingkat diskonto 1% (3.386) Increase 1% in discount rate
Penurunan tingkat diskonto 1% 4.438 Decrease 1% in discount rate
Kenaikan tingkat gaji 1% 4.314 Increase 1% in salary rate
Penurunan tingkat gaji 1% (3.327) Decrease 1% in salary rate
Liabilitas atas imbalan kerja karyawan adalah The employee service entitlement liability is as
sebagai berikut: follows:
31 Desember/December 31
2024 2023
Present value of employee benefit
Nilai kini liabilitas imbalan kerja 22.490 23.184 obligation
Analisa profil jatuh tempo pembayaran imbalan kerja The maturity profile analysis of the employee
karyawan pada tanggal 31 Desember 2024 dan benefits payments as of December 31, 2024 and
2023 adalah sebagai berikut: (tidak diaudit) 2023 is as follows: (unaudited)
31 Desember 2024/ 31 Desember 2023/
December 31, 2024 December 31, 2023
Kurang dari 1 tahun 7.521 2.574 Less than 1 year
1 - 2 tahun 1.411 7.025 1 - 2 years
2 - 5 tahun 5.850 6.200 2 - 5 years
5 - 10 tahun 15.998 16.263 5 - 10 years
Lebih dari 10 tahun 95.438 70.128 More than 10 years
Durasi rata-rata liabilitas imbalan kerja karyawan The average duration of the employee benefits
pada tanggal 31 Desember 2024 dan 2023 masing- obligation as of December 31, 2024 and 2023 is
masing adalah sebesar 14,42 dan 11,84 tahun (tidak 14.42 and 11.84 years, respectively (unaudited).
diaudit).
108
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
30. MANAJEMEN RISIKO KEUANGAN 30. FINANCIAL RISK MANAGEMENT
Perusahaan dihadapkan pada risiko tingkat suku The Company is exposed to interest rate risk, credit
bunga, risiko kredit, risiko likuiditas, risiko risk, liquidity risk, capital risk, and foreign currency
permodalan, dan risiko mata uang asing. risk.
Risiko tingkat suku bunga Interest rate risk
Risiko tingkat suku bunga adalah risiko bahwa nilai Interest rate risk is the risk that the fair value or
wajar atau arus kas masa datang atas instrumen future cash flows of a financial instrument will
keuangan akan berfluktuasi karena perubahan fluctuate because of changes in market interest
dalam suku bunga pasar. Kebijakan Perusahaan rates. The Company’s policy is to manage related
mengelola risiko tersebut dengan mendapatkan risk by obtaining loans and issuing bonds payable
pinjaman dan menerbitkan obligasi yang with fixed interest rates.
menggunakan suku bunga tetap.
Tabel di bawah ini menggambarkan rincian jatuh The following table represents a breakdown of
tempo aset dan liabilitas Perusahaan yang maturity dates of the Company’s assets and
dipengaruhi oleh tingkat suku bunga: liabilities which are affected by interest rate:
31 Desember 2024/December 31, 2024
Bunga tetap/Fixed Interest
Tidak
Bunga Kurang dari Lebih dari dikenakan
mengambang/ 1 tahun/ 3 tahun/ bunga/Non
Floating Less than 1-3 tahun/ More than interest Total/
interest 1 year 1-3 years 3 years sensitive Total
ASET ASSETS
Kas dan setara kas - 1.641.544 - - 17.314 1.658.858 Cash and cash equivalents
Piutang pembiayaan Consumer financing
konsumen - neto - 3.016.169 2.694.225 2.602.992 (439.655) 7.873.731 receivables - net
Piutang sewa Finance lease
pembiayaan - neto - 2.062.147 2.677.023 1.937.322 (304.329) 6.372.163 receivables - net
Tagihan anjak piutang - neto - 51.231 - - (1) 51.230 Factoring receivables - net
Piutang derivatif - 20.180 162.449 61.253 - 243.882 Derivative receivables
Piutang lain-lain - - - - 80.705 80.705 Other receivables
Aset lain-lain* - - - - 4.352 4.352 Other assets*
Total aset - 6.791.271 5.533.697 4.601.567 (641.614) 16.284.921 Total assets
LIABILITAS LIABILITIES
Utang bank - neto 1.669.650 3.765.877 3.771.748 - - 9.207.275 Bank loans - net
Beban akrual - - - - 108.367 108.367 Accrued expenses
Utang lain-lain - 19.050 428 - 197.744 217.222 Other payables
Utang obligasi - neto - 1.874.767 1.613.550 898.293 - 4.386.610 Bonds payable - net
Utang derivative - - 25.235 5.535 - 30.770 Derivative payables
Total liabilitas 1.669.650 5.659.694 5.410.961 903.828 306.111 13.950.244 Total liabilities
Neto (1.669.650) 1.131.577 122.736 3.697.739 (947.725) 2.334.677 Net
31 Desember 2023/December 31, 2023
Bunga tetap/Fixed Interest
Tidak
Bunga Kurang dari Lebih dari dikenakan
mengambang/ 1 tahun/ 3 tahun/ bunga/Non
Floating Less than 1-3 tahun/ More than interest Total/
interest 1 year 1-3 years 3 years sensitive Total
ASET ASSETS
Kas dan setara kas - 1.061.950 - - 25.913 1.087.863 Cash and cash equivalents
Piutang pembiayaan Consumer financing
konsumen - neto - 1.232.832 2.216.229 2.706.931 (336.122) 5.819.870 receivables - net
Piutang sewa Finance lease
pembiayaan - neto - 4.454.354 2.451.463 1.928.722 (414.773) 8.419.766 receivables - net
Tagihan anjak piutang - neto - 4.074 - - (9) 4.065 Factoring receivables - net
Piutang derivatif - 52.765 146.173 - - 198.938 Derivative receivables
Piutang lain-lain - - - - 73.317 73.317 Other receivables
Aset lain-lain* - - - - 4.346 4.346 Other assets*
Total aset - 6.805.975 4.813.865 4.635.653 (647.328) 15.608.165 Total assets
LIABILITAS LIABILITIES
Utang bank - neto 2.418.728 4.119.744 4.162.848 - - 10.701.320 Bank loans - net
Beban akrual - - - - 161.534 161.534 Accrued expenses
Utang lain-lain - 17.154 19.836 - 133.343 170.333 Other payables
Utang obligasi - neto - 969.986 1.342.622 217.005 - 2.529.613 Bonds payable - net
Utang derivative - 4.052 6.099 - - 10.151 Derivative payables
Total liabilitas 2.418.728 5.110.936 5.531.405 217.005 294.877 13.572.951 Total liabilities
Neto (2.418.728) 1.695.039 (717.540) 4.418.648 (942.205) 2.035.214 Net
*Terdiri dari uang jaminan *Consist of security deposit
109
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Page 308
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
30. MANAJEMEN RISIKO KEUANGAN (lanjutan) 30. FINANCIAL RISK MANAGEMENT (continued)
Risiko tingkat suku bunga (lanjutan) Interest rate risk (continued)
Tabel berikut menunjukkan sensitivitas atas The following table demonstrates the sensitivity to a
kemungkinan perubahan suku bunga, dengan reasonably possible change in interest rates, with all
variabel lain dianggap tetap, terhadap laba sebelum other variables held constant, of the Company’s
pajak Perusahaan (melalui dampak dari suku bunga income before tax (through the impact on floating
mengambang) (tidak diaudit): interest rate) (unaudited):
Kenaikan
(penurunan)
suku bunga
dalam basis Dampak
poin/Increase terhadap laba
(decrease) on sebelum pajak/
interest rate Effect on income
in basis points before tax
Tahun: Year:
2024 +100 (20.442) 2024
-100 20.442
2023 +100 (29.320) 2023
-100 29.320
Risiko mata uang asing Foreign currency risk
Risiko mata uang asing adalah risiko nilai wajar arus Foreign currency risk is the risk that the fair value or
kas di masa depan yang berfluktuasi karena future cash flows of a financial instrument will
perubahan kurs pertukaran mata uang asing. fluctuate because of changes in foreign exchange
Perusahaan terpengaruh risiko perubahan mata rates. The Company’s exposure to the risk of
uang asing terutama berkaitan dengan pinjaman changes in foreign exchange rates relates primarily
bank dalam mata uang Dolar AS (Catatan 11). to the Company’s US Dollar bank loans (Note 11).
Perusahaan mengelola risiko ini dengan melakukan The Company manages this risk by entering into
kontrak pertukaran mata uang (Catatan 16). cross currency swap contract (Note 16).
Tabel berikut menunjukkan sensitivitas atas The following table demonstrates the sensitivity to a
kemungkinan perubahan nilai tukar Rupiah terhadap reasonably possible change in Rupiah exchange
mata uang asing dengan variabel lain dianggap rate against foreign currency with all other variables
tetap, terhadap laba sebelum pajak Perusahaan held constant, of the Company’s income before tax
(tidak diaudit): (unaudited):
Perubahan Dampak
nilai tukar terhadap laba
Rupiah/Change sebelum pajak/
In Rupiah Effect on income
Rate before tax
Tahun: Year:
2024 +100 1.243 2024
-100 (1.243)
2023 +100 1.905 2023
-100 (1.905)
110
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Page 309
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
[
30. MANAJEMEN RISIKO KEUANGAN (lanjutan) 30. FINANCIAL RISK MANAGEMENT (continued)
Risiko kredit Credit risk
Risiko kredit adalah risiko jika pihak debitur Credit risk is the risk that a counterparty will not meet
tidak memenuhi kewajibannya dalam kontrak its obligations under a customer contract, leading to
konsumen, yang menyebabkan kerugian keuangan. a financial loss. The Company has maintained
Perusahaan melakukan analisa dan menerapkan prudent analysis and credit approval, monitored
kebijakan pemberian kredit yang hati-hati, receivable balances continuously and managed the
melakukan pengawasan secara berkala terhadap collection of consumer financing receivables,
saldo piutang pembiayaan konsumen, piutang sewa finance lease receivables, factoring receivables and
pembiayaan, tagihan anjak piutang dan piutang dari receivable from collateral of financed assets. The
jaminan aset yang dibiayai serta memaksimalkan credit risk is triggered by improper assessment on
penagihan angsuran. Risiko ini terjadi jika piutang consumer financing receivables, finance lease
pembiayaan konsumen, piutang sewa pembiayaan, receivables, factoring receivables, and receivable
tagihan anjak piutang, dan piutang dari jaminan aset from collateral of financed assets.
yang dibiayai tidak dikelola dengan baik.
Tabel di bawah ini menggambarkan total risiko kredit The following table sets out the total credit risk and
dan konsentrasi risiko yang dimiliki Perusahaan risk concentration of the Company without
tanpa memperhitungkan agunan: considering the collaterals:
Pinjaman yang diberikan dan piutang/
Loans and receivables
31 Desember/December 31
2024 2023
Piutang pembiayaan konsumen Consumer financing receivables
Korporasi - pihak ketiga 3.093.486 1.242.258 Corporation - third parties
Korporasi - pihak berelasi 12.959 11.860 Corporation - related parties
Perorangan - pihak ketiga 5.206.941 4.901.874 Individual - third parties
Piutang sewa pembiayaan Finance lease receivables
Korporasi - pihak ketiga 5.890.715 7.707.753 Corporation - third parties
Korporasi - pihak berelasi 195.067 462.103 Corporation - related parties
Perorangan - pihak ketiga 590.710 664.683 Individual - third parties
Tagihan anjak piutang Factoring receivables
Korporasi - pihak ketiga 51.231 4.074 Corporation - third parties
Piutang dari jaminan Receivable from collateral
aset yang dibiayai of financed assets
Korporasi - pihak ketiga 73.742 19.160 Corporation - third parties
Perorangan - pihak ketiga 71.455 88.111 Individual - third parties
Total 15.186.306 15.101.876 Total
Berikut ini adalah risiko kredit berdasarkan evaluasi The following tables set out the credit risk based on
penurunan nilai pada tanggal 31 Desember 2024 allowance for impairment losses assesment
dan 2023: classification as of December 31, 2024 and 2023:
31 Desember/December 31, 2024
Belum jatuh Jatuh tempo Cadangan
tempo dan tidak tetapi tidak kerugian
mengalami mengalami penurunan nilai/
penurunan nilai/ penurunan nilai/ Mengalami Allowance
Neither past due Past due but penurunan nilai/ for impairment Total/
nor impaired non-impaired Impaired losses Total
Piutang pembiayaan Consumer financing
konsumen - neto 7.856.512 359.152 97.722 (439.655) 7.873.731 receivables - net
Piutang sewa Finance lease
pembiayaan - neto 6.378.471 264.300 33.721 (304.329) 6.372.163 receivables - net
Tagihan anjak piutang - neto 51.231 - - (1) 51.230 Factoring receivables – net
Piutang dari jaminan Receivable from collateral
aset yang dibiayai - neto - - 145.197 (79.858) 65.339 of financed asset - net
14.286.214 623.452 276.640 (823.843) 14.362.463
111
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Page 310
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
30. MANAJEMEN RISIKO KEUANGAN (lanjutan) 30. FINANCIAL RISK MANAGEMENT (continued)
Risiko kredit (lanjutan) Credit risk (continued)
Berikut ini adalah risiko kredit berdasarkan evaluasi The following tables set out the credit risk based on
penurunan nilai pada tanggal 31 Desember 2024 allowance for impairment losses assesment
dan 2023: (lanjutan) classification as of December 31, 2024 and 2023:
(continued)
31 Desember/December 31, 2023
Belum jatuh Jatuh tempo Cadangan
tempo dan tidak tetapi tidak kerugian
mengalami mengalami penurunan nilai/
penurunan nilai/ penurunan nilai/ Mengalami Allowance
Neither past due Past due but penurunan nilai/ for impairment Total/
nor impaired non-impaired Impaired losses Total
Piutang pembiayaan Consumer financing
konsumen - neto 5.632.148 415.316 108.528 (336.122) 5.819.870 receivables - net
Piutang sewa Finance lease
pembiayaan - neto 8.586.714 231.992 15.833 (414.773) 8.419.766 receivables - net
Tagihan anjak piutang - neto 4.074 - - (9) 4.065 Factoring receivables – net
Piutang dari jaminan Receivable from collateral
aset yang dibiayai - neto - - 107.271 (48.470) 58.801 of financed asset - net
14.222.936 647.308 231.632 (799.374) 14.302.502
Tabel berikut menunjukkan aging analysis terhadap The following table summarizes the aging analysis
piutang pembiayaan konsumen, piutang sewa of consumer financing, finance lease, and factoring
pembiayaan, dan tagihan anjak piutang yang telah receivables which are past due but not impaired.
jatuh tempo tetapi tidak mengalami penurunan nilai.
31 Desember/December 31, 2024
1-30 hari/days 31-60 hari/days 61-90 hari/days Total/Total
Piutang pembiayaan konsumen 181.527 95.002 82.623 359.152 Consumer financing receivable
Piutang sewa pembiayaan 180.528 64.741 19.031 264.300 Finance lease receivable
362.055 159.743 101.654 623.452
31 Desember/December 31, 2023
1-30 hari/days 31-60 hari/days 61-90 hari/days Total/Total
Piutang pembiayaan konsumen 240.054 103.901 71.361 415.316 Consumer financing receivable
Piutang sewa pembiayaan 149.480 34.506 48.006 231.992 Finance lease receivable
389.534 138.407 119.367 647.308
Risiko likuiditas Liquidity risk
Risiko likuiditas adalah risiko atas kekurangan dana Liquidity risk is the risk to a shortage of funds and to
dan untuk mengatasinya dengan menggunakan solve the problem using a liquidity planning tool.
perangkat rencana likuiditas. Perangkat ini This tool monitors the maturity of both its financial
memantau jatuh tempo untuk aset keuangan yaitu assets, which are consumer financing receivables,
piutang pembiayaan konsumen, piutang sewa finance lease receivables, factoring receivables,
pembiayaan, tagihan anjak piutang, dan membuat and prepare projected cash flows from operations.
rencana arus kas dari operasi. Perusahaan The Company balances the terms of bank loan
menyeimbangkan jangka waktu pinjaman dari bank facilities which are adjusted with the consumers’
yang disesuaikan dengan jangka waktu (tenor) yang terms of payment.
diberikan kepada konsumen.
112
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Page 311
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
30. MANAJEMEN RISIKO KEUANGAN (lanjutan) 30. FINANCIAL RISK MANAGEMENT (continued)
Risiko likuiditas (lanjutan) Liquidity risk (continued)
Tabel di bawah ini menggambarkan profil jatuh The table below summarizes the maturity profile of
tempo atas liabilitas keuangan Perusahaan pada the Company’s financial liabilities as of
tanggal 31 Desember 2024 dan 2023 berdasarkan December 31, 2024 and 2023 based on contractual
pembayaran kontraktual yang tidak didiskontokan: undiscounted payments:
31 Desember 2024/December 31, 2024
Ditarik Kurang dari
sewaktu-waktu/ 3 bulan/
On Less than 3-12 bulan/ 1-5 tahun/ >5 tahun/ Total/
demand 3 months 3-12 months 1-5 years >5 years Total
LIABILITAS LIABILITIES
Utang bank - 2.990.840 2.870.555 4.085.017 - 9.946.412 Bank loans
Beban akrual 36.499 71.868 - - - 108.367 Accrued expenses
Utang lain-lain 197.744 72 19.275 131 - 217.222 Other payables
Utang obligasi - 446.495 1.661.033 2.869.577 - 4.977.105 Bonds payable
Utang derivatif - - - 30.770 - 30.770 Derivative payables
Total liabilitas 234.243 3.509.275 4.550.863 6.985.495 - 15.279.876 Total liabilities
31 Desember 2023/December 31, 2023
Ditarik Kurang dari
sewaktu-waktu/ 3 bulan/
On Less than 3-12 bulan/ 1-5 tahun/ >5 tahun/ Total/
demand 3 months 3-12 months 1-5 years >5 years Total
LIABILITAS LIABILITIES
Utang bank - 4.172.980 2.689.839 4.460.137 - 11.322.956 Bank loans
Beban akrual 82.941 78.593 - - - 161.534 Accrued expenses
Utang lain-lain 133.344 75 17.386 19.528 - 170.333 Other payables
Utang obligasi - 20.578 1.075.029 1.735.848 - 2.831.455 Bonds payable
Utang derivatif - 4.052 - 6.099 - 10.151 Derivative payables
Total liabilitas 216.285 4.276.278 3.782.254 6.221.612 - 14.496.429 Total liabilities
Manajemen risiko permodalan Capital risk management
Tujuan Perusahaan dalam mengelola The Company’s objectives when managing capital
permodalannya adalah untuk menjaga are to safeguard the Company’s ability to continue
kelangsungan usaha Perusahaan untuk dapat as a going concern in order to provide returns for
memberikan hasil kepada pemegang saham dan shareholders and benefits for other stakeholders
manfaat kepada stakeholder lainnya, dan and to maintain an optimal capital structure to
memelihara optimalisasi struktur permodalan untuk reduce the cost of capital.
mengurangi biaya modal (cost of capital).
Dalam rangka memelihara atau menyesuaikan In order to maintain or adjust the capital structure,
struktur permodalan, Perusahaan dapat the Company may adjust the amount of dividends
menyesuaikan jumlah dividen yang dibayarkan paid to shareholders, return on capital to
kepada pemegang saham, imbal hasil modal shareholders or issue new shares to reduce debt.
kepada pemegang saham atau menerbitkan saham
baru untuk mengurangi pinjaman.
Konsisten dengan pelaku industri lainnya, Consistent with others in the industry, the Company
Perusahaan memonitor permodalan berdasarkan monitors capital on the basis of the gearing ratio.
gearing ratio. Rasio ini dihitung dari pinjaman This ratio is calculated as debt (including bonds
(termasuk utang obligasi) dibagi dengan jumlah payable) divided by total capital. Total capital is
modal. Total modal diambil dari ekuitas yang calculated as equity as shown in the statement of
tercantum dalam laporan posisi keuangan. financial position.
113
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
31. KELOMPOK INSTRUMEN KEUANGAN 31. FINANCIAL INSTRUMENTS BY CATEGORY
Perusahaan menampilkan nilai wajar atas instrumen The Company presents the fair value of financial
keuangan berdasarkan hierarki nilai wajar sebagai instruments based on the following fair value
berikut: hierarchy:
Tingkat 1 - harga kuotasian (tanpa penyesuaian) Level 1 - quoted prices (unadjusted) in active
di pasar aktif untuk aset atau liabilitas yang markets for identical assets or liabilities that the
identik yang dapat diakses entitas pada tanggal entity can access at the measurement date.
pengukuran. Level 2 - inputs other than quoted prices
Tingkat 2 - input selain harga kuotasian yang included within Level 1 that are observable for
termasuk dalam Level 1 yang dapat diobservasi the asset or liability, either directly or indirectly.
untuk aset atau liabilitas, baik secara langsung
atau tidak langsung.
Tingkat 3 - input yang tidak dapat diobservasi Level 3 - unobservable inputs for the asset or
untuk aset atau liabilitas. liability.
Pada tanggal 31 Desember 2024 dan 2023, nilai As of December 31, 2024 and 2023, the carrying
tercatat dari aset dan liabilitas keuangan value of the Company’s financial assets and
Perusahaan memiliki nilai yang hampir sama dengan liabilities approximates their fair value except for the
nilai wajarnya kecuali untuk instrumen berikut: following financial instruments:
31 Desember 2024/ 31 Desember 2023/
December 31, 2024 December 31, 2023
Nilai tercatat/ Nilai tercatat/
Carrying Nilai wajar/ Carrying Nilai wajar/
value Fair value value Fair value
Tingkat 1: Level 1:
Aset keuangan yang diukur pada Financial assets measured at
nilai wajar melalui laba rugi fair value through profit or loss
Portofolio efek - - - - Marketable securities
Tingkat 2: Level 2:
Aset keuangan yang diukur pada Financial assets measured at
biaya perolehan yang diamortisasi amortized cost
Piutang pembiayaan konsumen – neto 7.873.731 7.350.613 5.819.870 5.332.405 Consumer financing receivables - net
Piutang sewa pembiayaan - neto 6.372.163 6.290.907 8.419.766 8.336.870 Finance lease receivables - net
Tagihan anjak piutang - neto 51.230 51.291 4.065 4.079 Factoring receivables - net
Piutang dari jaminan aset Receivable from collateral
yang dibiayai - neto 65.339 65.339 58.801 58.801 of financed asset - net
Instrumen lindung nilai yang efektif Effective hedging instrument
Piutang derivatif 243.882 243.882 198.938 198.938 Derivative receivables
Tingkat 2: Level 2:
Liabilitas keuangan yang diukur pada Financial liabilities measured
biaya perolehan diamortisasi at amortized cost
Utang bank - neto 9.207.275 8.783.943 10.701.320 10.910.328 Bank loans - net
Utang obligasi - neto 4.386.610 4.350.671 2.529.613 2.494.210 Bonds payable - net
Instrumen lindung nilai yang efektif Effective hedging instrument
Utang derivatif 30.770 30.770 10.151 10.151 Derivative payables
Berikut metode dan asumsi yang digunakan untuk The following methods and assumptions are used to
estimasi nilai wajar: estimate the fair values:
Nilai wajar dari piutang pembiayaan konsumen, The fair values of consumer financing receivables,
piutang sewa pembiayaan dan tagihan anjak finance lease receivables and factoring receivables
piutang dinilai menggunakan diskonto arus kas are determined by discounting cash flows using
berdasarkan suku bunga efektif rata-rata weighted average effective interest rate.
tertimbang.
Nilai wajar dari utang bank, utang obligasi, utang The fair value of bank loans, bonds payable,
derivatif, dan piutang derivatif dinilai menggunakan derivative payables, and derivative receivables are
diskonto arus kas berdasarkan suku bunga pasar. calculated using discounted cash flows using
market interest rate.
114
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
32. ASET DAN LIABILITAS DALAM MATA UANG 32. ASSETS AND LIABILITIES IN FOREIGN
ASING CURRENCY
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the Company
Perusahaan memiliki aset dan liabilitas dalam Dolar has assets and liabilities in US Dollar consisting of:
AS berupa:
Dolar AS/ Setara dalam
US Rupiah/Equivalent
Dollar in Rupiah
31 Desember 2024/
December 31, 2024
Aset Assets
Kas dan setara kas US$ 2.190.054 35.395 Cash and cash equivalents
Piutang sewa pembiayaan US$ 5.503.341 88.945 Finance lease receivables
Total Aset US$ 7.693.395 124.340 Total Assets
Liabilitas Liabilities
Utang bank US$ 326.434.945 5.275.841 Bank loans
Pinjaman yang dilindung nilai US$ (326.434.945) (5.275.841) Hedged loans
Total Liabilitas US$ - - Total Liabilities
Aset Neto US$ 7.693.395 124.340 Net Assets
Dolar AS/ Setara dalam
US Rupiah/Equivalent
Dollar in Rupiah
31 Desember 2023/
December 31, 2023
Aset Assets
Kas dan setara kas US$ 481.332 7.420 Cash and cash equivalents
Piutang sewa pembiayaan US$ 11.878.229 183.115 Finance lease receivables
Total Aset US$ 12.359.561 190.535 Total Assets
Liabilitas Liabilities
Utang bank US$ 402.770.944 6.209.116 Bank loans
Pinjaman yang dilindung nilai US$ (402.770.944) (6.209.116) Hedged loans
Total Liabilitas US$ - - Total Liabilities
Aset Neto US$ 12.359.561 190.535 Net Assets
Untuk melindungi dari risiko yang berkaitan dengan To hedge the risk associated with the fluctuation of
fluktuasi mata uang asing dan tingkat bunga foreign currency and floating interest rate of bank
mengambang dari pinjaman bank, Perusahaan loans, the Company uses derivative financial
menggunakan instrumen keuangan derivatif instruments (Note 16).
(Catatan 16).
33. LIABILITAS KONTINJENSI 33. CONTINGENT LIABILITY
Perusahaan tidak memiliki liabilitas kontinjensi yang The Company did not have any significant
signifikan pada tanggal 31 Desember 2024 contingent liability as of December 31, 2024
dan 2023. and 2023.
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PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
34. TAMBAHAN INFORMASI ARUS KAS 34. SUPPLEMENTARY CASH FLOW INFORMATION
Perubahan pada liabilitas yang timbul dari aktivitas Changes in liabilities arising from financing activities
pendanaan pada laporan arus kas adalah sebagai in the cash flow statement are as follows:
berikut:
31 Desember 2024/December 31, 2024
Perubahan
nonkas -
perubahan
valuta asing/
Non-cash
activities -
1 Januari 2024/ Arus kas masuk/ Arus kas keluar/ movement of 31 Desember 2024/
Januari 1, 2024 Cash inflows Cash outflows foreign currency December 31, 2024
Utang bank (Catatan 11) 10.710.523 21.102.280 (22.602.356) 63.785 9.274.232 Bank loans (Note 11)
Utang obligasi (Catatan 15) 2.534.530 2.831.005 (970.800) - 4.394.735 Bonds payable (Note 15)
Utang atas transaksi refinancing Payables for refinancing of
KPR dan pembiayaan housing loan and joint
bersama (Catatan 14) 785 - (357) - 428 financing transactions (Note 14)
Total liabilitas dari Total liabilities
aktivitas pendanaan 13.245.838 23.933.285 (23.573.513) 63.785 13.669.395 from financing activities
31 Desember 2023/December 31, 2023
Perubahan
nonkas -
perubahan
valuta asing/
Non-cash
activities -
1 Januari 2023/ Arus kas masuk/ Arus kas keluar/ movement of 31 Desember 2023/
Januari 1, 2023 Cash inflows Cash outflows foreign currency December 31, 2023
Utang bank (Catatan 11) 9.157.766 34.289.019 (32.628.400) (107.862) 10.710.523 Bank loans (Note 11)
Utang obligasi (Catatan 15) 3.304.000 1.283.905 (2.053.375) - 2.534.530 Bonds payable (Note 15)
Utang atas transaksi refinancing Payables for refinancing of
KPR dan pembiayaan housing loan and joint
bersama (Catatan 14) 1.070 - (285) - 785 financing transactions (Note 14)
Total liabilitas dari Total liabilities
aktivitas pendanaan 12.462.836 35.572.924 (34.682.060) (107.862) 13.245.838 from financing activities
35. SEGMEN OPERASI 35. OPERATING SEGMENT
Perusahaan melakukan kegiatan pembiayaan di The Company has financing activities in several
beberapa wilayah di Indonesia (Jakarta, Bogor, areas in Indonesia (Jakarta, Bogor, Tangerang and
Tangerang dan Bekasi - disingkat Jabotabek, Jawa, Bekasi - abbreviated Jabotabek, Java, Bali and
Bali dan Nusa Tenggara, Sumatera, Kalimantan dan Nusa Tenggara, Sumatera, Kalimantan and
Sulawesi). Untuk itu, informasi segmen geografis Sulawesi). Therefore, geographical segment
disajikan sebagai bentuk primer pelaporan segmen. information is presented as the primary basis of
segment reporting.
116
294
Page 315
295
The original financial statements included herein are in the Indonesian language.
PT INDOMOBIL FINANCE INDONESIA
NOTES TO THE FINANCIAL STATEMENTS
As of December 31, 2024 and 2023 and
for the Years Then Ended
(Expressed in millions of Indonesian Rupiah,
unless otherwise stated)
35. OPERATING SEGMENT (continued)
The operating segment information based on geographical area are as follows:
/December 31, 2024
Kalimantan/ Sulawesi/ Jumlah - Neto/
Kalimantan Sulawesi Amount - Net
153.219 258.946 2.532.538 Segment income
Segment expenses:
48.704 88.832 935.322 Financing charges - net
Provision for impairment
31.638 54.317 330.101 losses on receivables
Salaries, allowances and
29.264 53.828 357.353 employee benefits expenses
13.675 24.024 215.499 General and administrative
Provision for other impairment
losses and loss on sale of
20.026 27.615 145.200 collateral of financed asset
3.153 5.000 31.194 Depreciation of right-of-use assets
1.678 2.456 24.823 Depreciation of fixed assets
148.138 256.072 2.039.492 Total expenses
5.081 2.874 493.046 Segment results
Income before final tax expense
5.081 2.874 493.046 and income tax expense
- - (5.222) Final tax expense
- - (72.359) Income tax expense - net
5.081 2.874 415.465 Income for the year
761.973 1.247.328 16.710.495 Total segment assets*
707.869 1.152.146 13.979.302 Total segment liabilities
Total acquisitions of fixed
2.084 2.384 58.556 assets by segment
* excluding net deferred tax assets
PT INDOMOBIL FINANCE INDONESIA
Page 316
296
The original financial statements included herein are in the Indonesian language.
PT INDOMOBIL FINANCE INDONESIA
NOTES TO THE FINANCIAL STATEMENTS
As of 31 December 2024 and 2023 and
for the Years Then Ended
(Expressed in millions of Indonesian Rupiah,
unless otherwise stated)
35. OPERATING SEGMENT (continued)
The operating segment based on geographical area are as follows:
ecember 31, 2023
Kalimantan/ Sulawesi/ Jumlah - Neto/
Kalimantan Sulawesi Amount - Net
146.837 256.946 2.382.493 Segment income
Segment expenses:
35.579 65.427 808.691 Financing charges - net
Provision for impairment
46.433 74.626 516.441 losses on receivables
Salaries, allowances and
25.540 46.758 325.374 employee benefits expenses
11.681 20.216 221.120 General and administrative
Provision for other impairment
losses and loss on sale of
15.661 21.121 93.475 collateral of financed asset
3.121 4.928 30.909 Depreciation of right-of-use assets
1.401 2.220 23.170 Depreciation of fixed assets
139.416 235.296 2.019.180 Total expenses
7.421 21.650 363.313 Segment results
Income before final tax expense
7.421 21.650 363.313 and income tax expense
- - (1.784) Final tax expense
- - (88.117) Income tax expense - net
7.421 21.650 273.412 Income for the year
738.390 1.265.055 16.066.551 Total segment assets*
676.590 1.166.982 13.633.055 Total segment liabilities
Total acquisitions/revaluation of fixed
4.504 5.769 66.697 assets by segment
* excluding net deferred tax asset
PT INDOMOBIL FINANCE INDONESIA
Page 317
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
36. PENGUNGKAPAN INFORMASI TAMBAHAN 36. ADDITIONAL DISCLOSURE ON NOTES TO THE
DALAM CATATAN ATAS LAPORAN KEUANGAN FINANCIAL STATEMENTS
Informasi tambahan berikut merupakan The following additional information is an additional
pengungkapan informasi tambahan dalam catatan disclosure on notes to the financial statement that
atas laporan keuangan yang tidak dipersyaratkan are not required by Financial Accounting Standards
oleh Standar Akuntansi Keuangan di Indonesia. in Indonesia. The disclosure of this additional
Pengungkapan informasi tambahan ini untuk information is to comply with Financial Services
memenuhi regulasi dari Otoritas Jasa Keuangan dan Authority regulation and is not audited.
tidak diaudit.
Piutang Pembiayaan Konsumen Consumer Financing Receivables
Saldo piutang pembiayaan konsumen per Investment in consumer financing receivables
31 Desember 2024 dan 2023 berdasarkan ruang balance as of December 31, 2024 and 2023 based
lingkup kegiatan Perusahaan adalah sebagai berikut: on the scope of activities of the Company are as
follows:
31 Desember/ 31 Desember/
December 31, 2024 December 31, 2023
Lancar 7.917.735 5.749.285 Current
Dalam perhatian khusus 297.929 298.180 Special mention
Kurang lancar 43.907 44.807 Substandard
Diragukan 53.815 63.720 Doubtful
8.313.386 6.155.992
Jumlah minimum cadangan penyisihan The minimum allowance for consumer financing
penghapusan piutang pembiayaan untuk piutang receivables based on OJK Regulation
pembiayaan konsumen sesuai dengan Peraturan No. 35/POJK.05/2018 dated December 27, 2018
OJK No. 35/POJK.05/2018 tanggal 27 Desember amounted to Rp646 and Rp605 as of
2018 masing-masing adalah sebesar Rp646 dan December 31, 2024 and 2023, respectively.
Rp605 pada tanggal 31 Desember 2024 dan 2023.
Piutang Sewa Pembiayaan Finance Lease Receivables
Saldo piutang sewa pembiayaan per Investment in finance lease receivables balance as
31 Desember 2024 dan 2023 berdasarkan ruang of December 31, 2024 and 2023 based on the
lingkup kegiatan Perusahaan adalah sebagai berikut: scope of activities of the Company are as follows:
31 Desember/ 31 Desember/
December 31, 2024 December 31, 2023
Lancar 6.473.756 8.652.539 Current
Dalam perhatian khusus 169.015 166.167 Special mention
Kurang lancar 18.579 6.369 Substandard
Diragukan 15.142 9.464 Doubtful
6.676.492 8.834.539
Jumlah minimum cadangan penyisihan The minimum allowance for finance lease
penghapusan piutang pembiayaan untuk piutang receivables based on OJK Regulation
sewa pembiayaan sesuai dengan Peraturan OJK No. 35/POJK.05/2018 dated December 27, 2018
No. 35/POJK.05/2018 tanggal 27 Desember 2018 amounted Rp1,736 and Rp4,035 as of
adalah masing-masing sebesar Rp1.736 dan December 31, 2024 and 2023, respectively.
Rp4.035 pada tanggal 31 Desember 2024 dan 2023.
119
297
Page 318
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
36. PENGUNGKAPAN INFORMASI TAMBAHAN 36. ADDITIONAL DISCLOSURE ON NOTES TO THE
DALAM CATATAN ATAS LAPORAN KEUANGAN FINANCIAL STATEMENTS (continued)
(lanjutan)
Informasi tambahan berikut merupakan The following additional information is an additional
pengungkapan informasi tambahan dalam catatan disclosure on notes to the financial statement that
atas laporan keuangan yang tidak dipersyaratkan are not required by Financial Accounting Standards
oleh Standar Akuntansi Keuangan di Indonesia. in Indonesia. The disclosure of this additional
Pengungkapan informasi tambahan ini untuk information is to comply with Financial Services
memenuhi regulasi dari Otoritas Jasa Keuangan dan Authority regulation and is not audited. (continued)
tidak diaudit. (lanjutan)
Anjak Piutang Factoring Receivables
Saldo anjak piutang per 31 Desember 2024 dan 2023 Investment in factoring receivables balance as of
berdasarkan ruang lingkup kegiatan Perusahaan December 31, 2024 and 2023 based on the scope of
adalah sebagai berikut: activities of the Company are as follows:
31 Desember/ 31 Desember/
December 31, 2024 December 31, 2023
Lancar 51.231 4.074 Current
Jumlah minimum cadangan penyisihan The minimum allowance for factoring receivables
penghapusan piutang pembiayaan untuk anjak based on OJK Regulation No. 35/POJK.05/2018
piutang sesuai dengan Peraturan OJK No. dated December 27, 2018 amounted Rp512 and
35/POJK.05/2018 tanggal 27 Desember 2018 Rp41 as of December 31, 2024 and 2023,
adalah masing-masing sebesar Rp512 dan Rp41 respectively.
pada tanggal 31 Desember 2024 dan 2023.
Informasi lainnya Other information
Berdasarkan Peraturan Otoritas Jasa Keuangan Based on POJK No. 35/POJK.05/2018 dated
No.35/POJK.05/2018 tanggal 27 Desember 2018 December 27, 2018 regarding “The Business
tentang ”Penyelenggaraan Usaha Perusahaan Operation of a Multifinance Company” as last
Pembiayaan” sebagaimana diubah terakhir menjadi amended to No. 46 Year 2024 regarding
No. 46 Tahun 2024 tentang Pengembangan dan Development and Strengthening of Multifinance
Penguatan Perusahaan Pembiayaan, Perusahaan Company, Insfrastructure Multifinance Company,
Pembiayaan Infrastruktur, dan Perusahaan Modal and Venture Capital Company, the Company is
Ventura, Perusahaan diharuskan untuk memenuhi required to comply with several financial ratios. The
sejumlah rasio keuangan tertentu. Perseroan telah Company has complied the minimum amount of
memenuhi jumlah minimal ekuitas dan Batas equity and Limits for Giving Financing. The
Maksimum Pemberian Pembiayaan. Perusahaan Company has calculated ratio as follows:
telah menghitung beberapa rasio antara lain:
31 Desember/ 31 Desember/
Persyaratan/ December 31 December 31
Requirements 2024 2023
Gearing ratio max. 10x 4,97x 5,43x Gearing ratio
Rasio permodalan min. 10% 28,09% 25,92% Capital ratio
Rasio ekuitas terhadap modal disetor min. 50% 264,12% 234,21% Equity to fully paid capital ratio
Rasio Non-Performing Finance – neto max. 5% 0,06% 0,35% Non-Performing Finance - net
Rasio Non-Performing Finance - gross - 0,87% 0,83% Non-Performing Finance - gross
Rasio piutang pembiayaan
terhadap total aset min. 40% 85,45% 88,62% Financing to asset ratio
Rasio saldo piutang pembiayaan neto Net financing receivables
terhadap total pendanaan - 104,59% 107,41% to total funding ratio
Rasio saldo piutang pembiayaan Balance of receivables for investment
investasi dan pembiayaan modal kerja financing and working capital
terhadap total saldo piutang financing to total balance of the
pembiayaan min. 10% 67,93% 71,91% financing receivables
120
298
Page 319
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
37. PERISTIWA-PERISTIWA SETELAH PERIODE 37. SUBSEQUENT EVENTS AFTER THE
PELAPORAN REPORTING PERIOD
Pada tanggal 9 Januari 2025, Perusahaan dan On January 9, 2025, the Company and
PT Bank Danamon Indonesia Tbk sepakat untuk PT Bank Danamon Indonesia Tbk agreed to extend
memperpanjang fasilitas kredit rekening koran, overdraft facility, working capital facility and term-
fasilitas kredit modal kerja dan fasilitas kredit loan facility with maximum amount Rp10,000,
berjangka dengan jumlah maksimum masing- Rp400,000, and Rp20.000, respectively until
masing sebesar Rp10.000, Rp400.000, dan Februari 9, 2025.
Rp20.000 sampai dengan tanggal 9 Februari 2025.
Pada tanggal 17 Januari 2025, Perusahaan dan On January 17, 2025, the Company and
PT Bank Danamon Indonesia Tbk sepakat untuk PT Bank Danamon Indonesia Tbk agreed to extend
memperpanjang fasilitas kredit rekening koran, overdraft facility, working capital facility and term-
fasilitas kredit modal kerja dan fasilitas kredit loan facility with maximum amount Rp10,000,
berjangka dengan jumlah maksimum masing- Rp400,000, and Rp20.000, respectively until June
masing sebesar Rp10.000, Rp400.000, dan 26, 2025.
Rp20.000 sampai dengan tanggal 26 Juni 2025.
Pada tanggal 17 Februari 2025, Perusahaan dan On February 17, 2025, the Company and
PT Bank Pan Indonesia Tbk sepakat untuk PT Bank Pan Indonesia Tbk agreed to extend
memperpanjang fasilitas kredit modal kerja dengan working capital facility with maximum amount
jumlah maksimum sebesar Rp800.000 sampai Rp800,000 until June 22, 2025.
dengan tanggal 22 Juni 2025.
Pada tanggal 17 Februari 2025, Perusahaan dan On February 17, 2025, the Company and
JP Morgan Chase Bank sepakat untuk JP Morgan Chase Bank agreed to extend overdraft
memperpanjang fasilitas kredit rekening koran facility with maximum amount Rp200,000 until
dengan jumlah maksimum sebesar Rp200.000 March 18, 2026.
sampai dengan tanggal 18 Maret 2026.
Pada tanggal 19 Februari 2025, Perusahaan dan On February 19, 2025, the Company and
PT Bank Central Asia Tbk sepakat untuk PT Bank Central Asia Tbk agreed to extend
memperpanjang fasilitas kredit rekening koran overdraft facility with maximum amount Rp30,000
dengan jumlah maksimum sebesar Rp30.000 until May 22, 2025.
sampai dengan tanggal 22 Mei 2025.
Pada tanggal 7 Maret 2025, Perusahaan dan PT On March 7, 2025, the Company and
Bank CIMB Niaga Tbk sepakat untuk PT Bank CIMB Niaga Tbk agreed to extend joint
memperpanjang fasilitas kredit pembiayaan financing facility with maximum amount Rp200,000
bersama dengan jumlah maksimum sebesar until January 3, 2026.
Rp200.000 sampai dengan tanggal 3 Januari 2026.
Pada tanggal 7 April 2025, Perusahaan dan On April 7, 2025, the Company and
PT Bank SMBC Indonesia Tbk sepakat untuk PT Bank SMBC Indonesia Tbk agreed to extend
memperpanjang fasilitas kredit modal kerja dengan working capital facility with maximum amount
jumlah maksimum sebesar Rp700.000 sampai Rp700,000 until March 31, 2026.
dengan tanggal 31 Maret 2026.
Pada tanggal 23 April 2025, Perusahaan mendapat On April 23, 2025, the Company obtained working
fasilitas kredit modal kerja dari PT Bank BNP Paribas capital facility from PT Bank BNP Paribas Indonesia
Indonesia dengan jumlah maksimum sebesar with maximum amount Rp150,000 until
Rp150.000 sampai dengan tanggal November 30, 2025.
30 November 2025.
Pada tanggal 2 Mei 2025, Perusahaan dan On May 2, 2025, the Company and PT Bank ANZ
PT Bank ANZ Indonesia sepakat untuk Indonesia agreed to extend working capital facility
memperpanjang fasilitas kredit modal kerja dengan with maximum amount US$15,000,000 until
jumlah maksimum sebesar US$15.000.000 sampai April 30, 2026.
dengan tanggal 30 April 2026.
121
299
Page 320
PT INDOMOBIL FINANCE INDONESIA The original financial statements included herein are in the
Indonesian language.
PT INDOMOBIL FINANCE INDONESIA PT INDOMOBIL FINANCE INDONESIA
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE FINANCIAL STATEMENTS
Tanggal 31 Desember 2024 dan 2023 serta untuk As of December 31, 2024 and 2023 and
Tahun yang Berakhir Pada Tanggal-Tanggal Tersebut for the Years Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Indonesian Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
38. TUJUAN PENYUSUNAN DAN PENERBITAN 38. PURPOSE OF PREPARATION AND
KEMBALI LAPORAN KEUANGAN REISSUANCE OF THE FINANCIAL STATEMENTS
Laporan keuangan ini disusun dan diterbitkan These financial statements have been prepared and
dengan tujuan hanya untuk dicantumkan dalam issued solely for inclusion in the offering document
dokumen penawaran sehubungan dengan rencana in connection with the proposed offering of the debt
penawaran umum efek utang Perusahaan di securities of the Company in Indonesia in reliance
Indonesia berdasarkan peraturan dan ketentuan on rules and regulations of the Indonesia Financial
Otoritas Jasa Keuangan (“Penawaran Umum”). Service Authority (the “Public Offering”).
Perusahaan telah menerbitkan kembali laporan The Company has reissued their financial
keuangan tanggal 31 Desember 2024 dan 2023 statements as of December 31, 2024 and 2023 and
serta untuk tahun yang berakhir pada tanggal- for the years then ended, with certain additional
tanggal tersebut, dengan beberapa tambahan disclosures in Notes 3, 9 and 37, in connection with
pengungkapan dalam Catatan 3, 9 dan 37, the proposed Public Offering.
sehubungan dengan rencana Penawaran Umum.
39. PENYELESAIAN LAPORAN KEUANGAN 39. COMPLETION OF THE FINANCIAL
STATEMENTS
Manajemen Perusahaan bertanggung jawab atas The Company’s management is responsible for the
penyusunan dan penyajian wajar laporan keuangan preparation and fair presentation of these financial
ini sesuai dengan Standar Akuntansi Keuangan di statements in accordance with Indonesian Financial
Indonesia, yang telah diselesaikan dan diotorisasi Accounting Standards, which were completed and
untuk diterbitkan oleh Direksi Perusahaan pada authorized for issuance by the Board of Directors of
tanggal 15 Mei 2025. the Company on May 15, 2025.
122
300
Page 321
Kantor Pusat:
Indomobil Tower, Lt. 8
Jl. M.T. Haryono Kav. 11, Jakarta Timur 13330
Telp.: (021) 29185400
Email : corporate.secretary@indomobilfinance.com
www.indomobilfinance.com
Names mentioned 49 people and organisations named in the text · linked when the evidence is strong
unresolved
org
PT INDOMOBIL FINANCE INDONESIA Kegiatan
p.1
unresolved
org
PT Kustodian Sentral Efek Indonesia
p.1 ×3
unresolved
org
PT PEMERINGKAT EFEK INDONESIA
p.1 ×2
unresolved
org
PT BRI DANAREKSA
p.1
unresolved
org
PT CIMB NIAGA SEKURITAS
p.1
unresolved
org
PT DBS VICKERS SEKURITAS
p.1
unresolved
org
PT INDO PREMIER SEKURITAS
p.1
unresolved
org
PT RHB SEKURITAS
p.1
unresolved
org
INDONESIA TBK
p.1
unresolved
org
Bapepam
p.2 ×6
unresolved
org
PT INDOMOBIL FINANCE INDONESIA DAFTAR ISI DAFTAR ISI
p.3
unresolved
org
PT INDOMOBIL FINANCE INDONESIA IX.
p.4
unresolved
org
PT INDOMARU MULTI FINANCE
p.51 ×2
unresolved
org
Purwantono
p.68
unresolved
org
PT Indomobil Investment Corporation
p.70
unresolved
org
Marubeni Corporation
p.70
unresolved
org
Bank BCA
p.76 ×2
unresolved
org
Bank Victoria
p.78 ×2
unresolved
org
PT Musyarakah
p.80
unresolved
org
PT Indomobil Finance Indonesia Opini
p.190
unresolved
org
PT INDOMOBIL FINANCE INDONESIA CATATAN ATAS
p.210 ×4
unresolved
org
Indonesia Stock Exchange
p.210
unresolved
person
Gunawan Effendi
· Komisaris
p.210
unresolved
person
Triyana Iskandarsjah
· Komisaris Independen
p.210
unresolved
person
Paulus A. Larosa
· Direktur
p.210
unresolved
person
Sifra Viona Tjahjono
· Direktur
p.210
unresolved
org
Financial Services Authority
p.211
unresolved
person
Edaran
· Komisaris
p.293
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