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POWER FOR
GROWTH
2024
ANNUAL & SUSTAINABILITY
REPORT
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2024 ANNUAL & SUSTAINABILITY REPORT Ijen Geothermal IPP Located in Blawan Ijen, East Java
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POWER FOR GROWTH 20 years of Medco Power encapsulates the essence of continuous improvement and the pursuit of a better future, reflects the company’s resilience in developing clean and renewable power.
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Operation
Area [OJK C.3][GRI 2-1]
Batam & Riau Island
MEB Gas-fired IPP
M
DEB Gas-fired IPP
al
ay
ELB Gas-fired IPP
sia
Bulan Solar PV IPP
a
si
l ay
a
M
Singapore
Sumatra
North Sumatra Kalimantan
Sarulla Geothermal IPP
Sarulla Geothermal O&M
Samosir Geothermal PSPE
Riau
MRPR Gas-fired IPP INDONESIA
MPSI O&M
West Sumatra
Java
Bonjol Geothermal IPP
Jakarta
South Sumatra Central Java
Head Office
EPE Gas-fired IPP TJBPS O&M
MPE Gas-fired IPP
East Java
Ijen Geothermal IPP
West Java MPGS O&M
BJI Mini-hydro IPP
PPP Mini-hydro IPP East & West Bali
East & West Bali Solar PV IPP
PT Medco Power Indonesia 2 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
Production Exploration, Pre-FID, & Study
Development Operation & Maintenance
North Sulawesi
Sulut-1 O&M
Sulawesi
Papua
e
r Lest
Timo
Sumbawa Timor
MPSS Solar PV IPP Timor-1 O&M
PT Medco Power Indonesia 3 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
2024
Highlights
Operation Highlights
IPP Capacity O&M Capacity Power Sales (GWh)
926 MW 1,975 MW 3,993
855
4,155
801
4,108
831
Power Sales
4,108 MW 3,138 3,353 3,277
Renewables Renewables
2022 2023 2024
Sales Capacity
20% 23% Renewables IPP
Gas-fired IPP
Assets in Operation and Construction
Gas-fired IPP Geothermal IPP Solar PV Mini-hydro IPP Operation &
Maintenance
7 4 3 2 6
Project in Construction
No. Project Status
1. Ijen Geothermal Phase-1 35 MW COD by February 2025
2. East Bali Solar PV 25 MWp Construction
3. Energi Listrik Batam Expansion 39 MW Construction
4. Bulan Solar PV 600 MW Conditional License
5. Bonjol Geothermal 60 MW PSPE
East Bali Solar PV IPP
Located in East Bali 6. Samosir Geothermal 40 MW PSPE
PT Medco Power Indonesia 4 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
Our People
12%
1,013 126
Number of 2024
Male
Female
Employees
887
88%
758 255
Permanent Contract
Ijen Geothermal IPP Employees Employees
Located in Blawan Ijen, East Java
Award
ASEAN Red Ribbon for
Top CSR Award
Outstanding Workplace
MRPR received a 4-starred in Top
TJBPS recognized for its
Gold PROPER Corporate Social Responsibility
commitment to create a safe
Award Award
and healthy work environment
TJBPS received
gold PROPER
for the sixth Subroto Award
consecutive year Zero Accident Award MCG and MGS recognized for
for the fourth consecutive excellence in occupational
year for power sector safety & health, and geothermal
engineering
Financial
Gross Profit EBITDA
(In Billions of Rupiah) (In Billions of Rupiah)
1,119 1,194 822
1,016 718
686
2022 2023 2024 2022 2023 2024
PT Medco Power Indonesia 5 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Sustainability
Highlights [OJK B.1][OJK B.2][OJK B.3]
96%
Iocal suppliers
Improvement of Economic
Performance
1. Achieved mechanical completion for Ijen
geothermal power plant (total capacity 110 MW)
phase-1 with capacity of 35 MW.
2. The East Bali Solar PV project, a 25 MWp
plant, progressed successfully and will reach
commercial operation in the 2nd quarter of 2025.
3. Involving 96% local suppliers for overall project
of the Company and its subsidiaries.
Ijen Geothermal IPP
Located in Blawan Ijen, East Java
Environmental Management and Climate Change
01 02 03 04 05
By the end of 2024, Reducing 2.5% of Receiving Gold Significant sales Planting more than
the renewable total emissions in PROPER Award for volume increase of 800 trees to absorb
energy mix capacity scope 1 and scope 2 TJBPS O&M for the Renewable Energy GHG emission and
reached 23%, in line compared to 2023. sixth consecutive Certificates (REC) coastal abrasion
with the energy mix year. through internal prevention.
target of 26% by and external
2025 and 30% trading within the
by 2030. MedcoEnergi group
and external buyers.
Community Empowerment
Implement social and environmental responsibility
activities with a focus on education, health, and
social issues through various programs aimed at
improving community well-being and supporting
inclusive and sustainable social development.
Empowerment of coffee farmers
Located in Blawan Ijen, East Java
PT Medco Power Indonesia 6 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
Occupational Safety and Health
49,681,810 Zero Lost Time Incident
Total safe working hours Maintaining a record of Zero Work Accidents for 4 (four)
consecutive years.
Improving the Quality of Human Resources
+400 Participated employees
Strengthen capacity and awareness of
sustainability and climate change at headquarters
and assets through certification and online
learning programs.
7,222 Total training hours
Conducting 41 compliance sharing sessions and
Empowering students with Geothermal handbook
Located in Blawan Ijen, East Java 61 compliance moments, reaching 1,329 audiences
Governance
Certified ISO 37001
Implement and obtain ISO 37001 Anti-Bribery Management System certification for MRPR
operations and maintain five certifications for Medco Power, EPE, MPE, MEB, and DEB.
Community Grievance
MCG as a subsidiary of Medco Power, upholds its commitment to sustainability and social responsibility by
addressing community concerns promptly and responsibly.
In 2024, concerns were raised regarding an alleged decline in water quality in Kalianyar Village, approximately
4 kms from Ijen Geothermal power plant project site. To address this, MCG conducted water quality tests
through the Bondowoso Regional Technical Implementation Unit (UPTD), a certified local government-
owned laboratory. The results showed that all water quality parameters complied with regulatory standards
which remains safe for consumption.
To support community’s access to clean water, MCG has also provided clean water supply assistance, upgrade
infrastructure and explored potential new water reservoir in the area.
PT Medco Power Indonesia 7 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Table of Contents
1 12
2024
4
Performance
Report by the President Commissioner 36
Company
Profile
Company History
Report by The President Director & Chief 38 Medco Power in Brief
16
Executive Officer
39 Vision, Mission, and Corporate Values
20 Awards and Certifications
40 Board of Commissioners Profile
21 Achievements
41 Board of Directors Profile
2
42 Financial Highlights
Management Discussion 44 Operational Highlights
and Analysis 46 Share Highlights
24 Financial Performance Analysis 46 Share Information
26 Capital Expenditure Chronology of Listing of Shares and Other
47
26 Capital Structure, Liquidity and Dividends Securities
27 Business Prospects and Challenges 48 Other Securities Information
50 Corporate Data
3 30
Business
Activities
Business Activities
51
51
Capital Market Supporting Institutions and
Professions
Association Membership
32 Asset Information
MRPR Gas-Fired IPP
Located in Pekanbaru, Riau
PT Medco Power Indonesia 8 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
5 54
Corporate
Governance
Commitment to Good Corporate Governance
6
78
Sustainability
Report
About the Sustainability Report
55 General Meeting of Shareholders 79 Material Topics Determination and List Process
56 Board of Commissioners 84 Sustainability Strategy
58 Board of Directors 86 Climate Change Strategy
60 Audit Committee 90 Sustainability Governance
63 Nomination and Remuneration Committee 98 Sustainable Economic Performance
64 Supply Chain Management Committee 106 Environmental Performance
64 Risk Management Committee 113 Human Resources Management Performance
65 Corporate Secretary 121 Occupational Health and Safety
66 Internal Audit and Integrity Compliance 127 Community Development Performance
68 Public Accountant Statement Letter of the Board of Commissioners
131
and Board of Directors
70 Risk Management
7
72 Internal Control System
73 Whistleblowing System
74 Business Ethics Guidelines Attachment
134 Company Structure
135 Organizational Structure
136 List of Abbreviations
137 OJK Annual Report Regulation Reference
145 POJK 51 Reference Index
147 GRI Index
149 Audited Financial Report 2024
PT Medco Power Indonesia 9 2024 Annual & Sustainability Report
Page 12
2024
Performance
12 Report by the President Commissioner
Report by The President Director & Chief
16
Executive Officer
20 Awards and Certifications
21 Achievements
Page 13
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Corporate Governance Sustainability Report Attachments
East Bali Solar PV IPP
Located in East Bali
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile Report by the President Commissioner Amri Siahaan President Commissioner PT Medco Power Indonesia 12 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
We continue to supply clean and
renewable power supporting sustainable
economic growth
Over the past 20 years, the Company has demonstrated consistency on strategy execution is key in keeping the
strong safety and operational performance, grown Company on track in delivering its renewable energy
rapidly tapping into cleaner and renewable power mix, from previously 23% to 26% by the end of 2025
business potential, and built strategic partnerships and 30% by 2030.
with reputable companies. Today, Medco Power is
one of the leaders in clean energy development in
Indonesia, with strong organizational capability and Supervising the Board of Directors
contributes to Indonesia’s net-zero emissions targets.
The BOC supervised the BOD and monitored their
performance in formulating and implementing the
Evaluation of Management and Strategy Company’s strategy, governance and budget. This
Execution supervision is conducted via quarterly meetings with
the BOD at which the BOC also provides directions
The Board of Commissioners (BOC) commend the and recommendations. In 2024, the BOC also held
Board of Directors (BOD) for their solid performance nine additional meetings with BOD to provide ad-hoc
in 2024. They maintained a clear focus on safety and supports to address emerging issues or opportunities.
operational excellence while progressing to deliver key This flexible approach ensured effective oversight
projects safely and on budget. Ijen Geothermal Phase and guidance to confirm the Company reached its
1 reached commercial operation in February 2025, strategic goals throughout the year.
while the development of the East Bali Solar PV and
the Energi Listrik Batam Expansion project - which In carrying its duties the BOC was assisted by
converts waste heat into energy - are progressing committees and each committee conducts its duties
well, with commercial operation targets in Q2 and Q3 in line with its charter. The Nomination & Remuneration
2025 respectively. Critical project milestones for future Committee provides recommendations on BOD
growth, such as obtaining the licenses for the Bulan nominations and remuneration based on their
Solar PV project are also advancing. performance which reflected on key performance
indicators, and suggested development programs for
The BOD also ensured that ESG principles are both BOD and BOC. In 2024, the Audit Committee
integrated into decision-making process and led the met four times, while the Nomination & Remuneration
Company to achieve its power sales targets. Their Committee met three times.
PT Medco Power Indonesia 13 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Good Corporate Governance renewable energy and gas-to-power technologies. We
launched a mandatory sustainability e-learning course,
In 2024, the Company continued to strengthen its supported attendance to various industry workshops
commitment to good corporate governance. The and conferences, and awarded scholarships to obtain
BOC were pleased to observe the BOD expanding the degrees in solar PV and geothermal engineering. We
ISO 37001 anti-bribery certifications to wider assets introduced GAIA Ambassadors (Green Ambassadors
and conducted surveillance audits. The BOD is also for Inclusive Climate Action) to enhance climate
expanding the requirement of conflict of interest awareness and inclusive practices across the Company.
declarations to the service contractor’s workers,
influencing the third-parties to comply with our Code Operational excellence continued to be a key focus
of Conduct. area in our operations. We implemented Continuous
Improvement programs, adopted national
As part of building a strong culture of personal competency standards for solar PV operations and
integrity, the Company issued policies and guidance conducted assessments to ensure that the team met
on interaction with government officials and other the standards.
stakeholders, promoting transparency and preventing
conflict of interest situations. New employees were Succession planning remains a priority, we continued
introduced to our ethical standards and values through to prepare our young talents to become the future
a structured induction program. The Compliance leaders by equipping them with the skills and
Champion program, activated in 2023, further experiences needed to succeed in this fast growing
supported the implementation of the initiatives across industry.
all levels in the organization. Additionally, our regular
awareness campaigns, internal trainings, and vendor
audits were conducted to ensure both employees and Sustainability
third-party partners uphold our ethical standards.
Medco Power upholds the climate change and
sustainability goals of MedcoEnergi, whom is
Human Capital and Leadership recognized as leader in ESG. MedcoEnergi’s ESG rating
was upgraded from A to AA (leadership category) in
In 2024, the Company continued to strengthen its 2024 by MSCI.
workforce and leadership through focused training
and development programs. We are also proud to The BOC commend the BOD for successfully
see the level of diversity in our organization where prioritizing sustainability in 2024; they maintained
more women represented across all levels of the a safe and healthy working environment, ensuring
organization, including in management roles. This compliance with laws and regulations specifically in
reflects our commitment to equal opportunity and relations to water & air quality and effluents & waste.
helps us attracting best talents. We have invested over The BOD successfully oversaw the implementation of
7,200 hours in training and certification programs on a new Stakeholder Engagement Plan to support its
business sustainability.
PT Medco Power Indonesia 14 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
our strong safety record targeting zero lost time
Prospects for 2025 incidents and sustaining mature safety culture. We
plan to implement a Security Management System
Medco Power remains optimistic about future growth. to enhance our security risks management across
Operating in a rapidly developing region, we are well- our operations. Looking ahead, we will continue to
positioned to support Indonesia’s expanding energy strengthen our renewable energy, supported by
needs. The country’s power capacity is expected to be advanced technologies and strategic partnerships.
more than quadruple by 2050, with gas as the main
source and renewables playing a growing role. Our
diverse portfolio and focus on clean energy align with Appreciation
national and global energy transition goals.
We would like to express our sincere gratitude to all our
In 2025, we aim to disclose our scope 3 greenhouse stakeholders, including the Government of Indonesia,
gas emissions and build on our 2024 success in selling shareholders, investors, contractors, vendors and
Renewable Energy Certificates. We will continue communities. Your ongoing trust and support have
developing and progressing our Just Transition been crucial in 2024 and over the past two decades.
Plan, managing our climate risks, and maintaining We wish you all a healthy, safe and prosperous year
ahead.
Amri Siahaan
President Commissioner
PT Medco Power Indonesia 15 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile Report by the President Director & Chief Executive Officer [OJK D.1][GRI 2-22] Eka Satria President Director & Chief Executive Officer PT Medco Power Indonesia 16 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
Accelerating Energy Transition
Over the past 20 years, Medco Power has grown into a Medco Power maintained its SMK3 certification
key player in the Indonesian power sector, supporting covering five assets, along with ISO 45001 for
MedcoEnergi’s 45 year journey from an entrepreneurial Occupational Health and Safety and ISO 9001 for
drilling services company to a regional energy leader Quality Management Systems. These certifications
operating in Oil & Gas, Power and Copper & Gold underpin our integrated Health, Safety and
Mining sectors. Today, Medco Power owns and Environment Management System. In addition, a
operates 16 gas, solar PV, geothermal, and mini-hydro Security Management System was implemented to
IPPs (both operating and under construction) while strengthen risk assessments and preparedness for
also providing O&M services to six power plants across potential security threats.
Indonesia.
Medco Power is committed to advancing clean Achievements and Operational
and renewable energy and plays a leading role Highlights
in Indonesia’s energy transition towards net zero
emissions. This commitment is underpinned by a In 2024, Medco Power’s operational performance was
strong focus on safety and operational excellence. In affected by maintenance shutdowns at the MRPR
2024, the company achieved key project milestones Riau and DEB Batam IPPs, however, we still recorded
and maintained a strong safety record. Total Power power sales of 4,108 GWh, meeting our target of 4,100
sales reached 4,108 GWh, with 20% derived from GWh and made excellent progress on our key projects.
renewables—up from 19% in 2023.
Medco Power achieved 90% progress on the 39 MW
Energi Listrik Batam Expansion, which will convert
Safety-First Mindset waste heat to energy. The project remains on track for
commercial operation in Q3-2025.
The health and safety of our employees, contractors,
vendors and local communities remain a top priority. Also in October 2024, our consortium received a
In 2024, we recorded zero lost time incidents and Conditional License from the Energy Market Authority
occupational illnesses, maintained a Level three (EMA) of Singapore for the Bulan Solar PV project.
(independent) safety culture maturity and achieved This marked the project’s transition from preliminary
49.7 million cumulative safe working hours. evaluation to feasibility assessment, including specific
feasibility studies, ground and marine surveys, and
regulatory compliance evaluations. Operations are
targeted to commence in 2029. The Bulan Solar PV
project will be one of the largest solar developments
in Southeast Asia.
PT Medco Power Indonesia 17 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
In addition to Bulan project, Medco Power advanced Environment and Society
the East Bali Solar PV project, a 25 MWp plant that will
reach commercial operation in the second quarter of At Medco Power, we prioritize environmental
2025. sustainability and social responsibility as integral
parts of our commitment to sustainable business
In 2024 we made considerable progress in the practices. We implement robust waste control and
geothermal area: responsible water management, while minimizing
• Ijen Phase 1, East Java. Medco Power completed the risk of environmental pollution. We comply with
the mechanical completion of this 35 MW project applicable laws, regulations, and industry standards
in December 2024, with commercial operations on water and air quality, effluents, and waste. In
commencing in February 2025. An additional up 2024, we maintained our ISO 14001 certification for
to 20 MW will be developed in Phase 2. Environmental Management, which also guides our
• Bonjol, West Sumatra. We progressed the integrated HSE Management System.
Geothermal exploration program by advancing
land acquisition and site preparations, and began We continue to build internal awareness and
drilling two exploration wells for a potential 60 capabilities by appointing selected employees as GAIA
MW plant. Champions, equipping them with sustainability and
• Samosir in North Sumatra. This project was climate change training to help promote these issues
granted a preliminary survey and exploration across the organization. We also shared insights on
license for a planned 40 MW plant. our sustainability strategy and initiatives in Indonesia
Sustainability Forum, a national platform forum to
These projects aim to expand Medco Power’s foster collaboration and best practise to accelerate
geothermal gross capacity from 330 MW to over 500 decarbonization. At our Jakarta headquarters, we
MW by 2031. To further support our drive towards upgraded electric vehicle infrastructure by installing
renewable energy, Medco Power is studying potential fast-charging systems and continued to issue
wind opportunities in West Sumbawa for captive Renewable Energy Certificates to both internal and
market and PLN. external stakeholders.
In the O&M segment, Medco Power secured the Following the implementation of our Human Rights
O&M contract for Ijen Phase 1, in which the Company Policy in late 2023, we retrained our security personnel
extended the O&M contract for Sarulla Geothermal— on voluntary principles, protocols, and procedures.
through to 2030. The Company also achieved We also enhanced our Stakeholder Engagement
commercial operation for Timor Project Unit 2 in Plan and Grievance Mechanism for more effective
September 2024, with Unit 1 reaching commercial engagement and community dialogue to address
operation in the second quarter of 2025. While for stakeholder concerns effectively. To support local
Sulut-1 project reached commercial operation in communities, our employees conducted knowledge-
first quarter of 2025 and Sulut-2 target commercial sharing sessions in local schools, built clean water
operation by second quarter 2025. facilities, and supported a stunting prevention
program. We also contributed to local economic
development through local hiring and engaging local
contractors and vendors where possible.
PT Medco Power Indonesia 18 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
Looking Ahead We will also pursue strategic acquisitions, joint
ventures, and partnerships to increase capacity and
In 2024, Medco Power recorded EBITDA of Rp718 access advanced technologies. In 2025, we remain
billion and Rp108 billion loss for the year due to committed to maintaining the highest safety
prolonged maintenance shutdowns at the MRPR Riau standards, delivering project milestones, and achieving
DEB Batam IPPs, and mini-hydro assets impairments. operational and cost efficiencies.
However, the year ended in a positive note with the
mechanical completion of the Ijen Phase I facility.
The Bali solar PV and Ijen geothermal assets will both Appreciation
contribute in 2025 and will add scale to the business.
The Company has initiated a range of activities to We would like to take this opportunity to thank the
strengthen asset reliability and improve cost efficiency communities around our operations for their support,
across its portfolio. to colleagues for their dedication to our mission of
proving reliable, affordable and sustainable energy
The Company will further expand its renewable and to the Government of Indonesia for their support.
energy portfolio, with a focus on geothermal and We wish everyone a happy, healthy and prosperous
solar PV, while leveraging technologies such as energy year.
storage and digitalization to enhance operational
performance. We will also continue to work on gas to
power initiatives supporting energy transition.
Eka Satria
President Director & Chief Executive Officer
PT Medco Power Indonesia 19 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Awards and
Certifications
Awards
No. Award Awarder Description
1 Gold and Blue PROPER Ministry of Environment and TJBPS received Gold PROPER award for sixth consecutive
Forestry year. Blue PROPER awarded to MEB, DEB and MPE for
environmental compliance.
2 Subroto Award - Renewable Ministry of Energy and MCG recognized for excellence in occupational safety and
Energy and Energy Mineral Resources health, and geothermal engineering for nonproducing
Conservation work areas; MGS for production work area subcategory.
3 Zero Accidents Ministry of Manpower MEB, ELB, MGS, MRPR, MPSI, TJBPS, and MCG recognized
for achieving zero accidents.
4 HIV-AIDS Prevention and Ministry of Manpower PLATINUM awarded to MEB, ELB, and TJBPS, and GOLD
Control Program in the awarded to MRPR, MPSI, and MCG.
Workplace
5 ASEAN Red Ribbon for ASEAN Business Coalition TJBPS recognized for its commitment to create a safe and
Outstanding Workplace on HIV and AIDS healthy work environment, particularly in HIV and AIDS
prevention.
6 Top Corporate Social Top Business Media MRPR received a 4-starred Top Corporate Social
Responsibility Indonesia Responsibility Award for its commitment to implementing
various and quality CSR programs within its power
generating areas.
7 Most Active Clean and Listrik Indonesia Magazine Medco Power received a honorary award as an
Renewable IPP in the independent power producer for its consistent and active
Electricity Sector efforts in building and developing a clean and renewable
energy portfolio within the electricity sector.
8 Regional Electricity Listrik Indonesia Magazine Awarded to ELB for its contribution in supporting stable
Company with Excellent electricity supply in Batam.
Service award in the Energy
Supply Chain Company
Category
Certifications
No. Certification Type Certifier Awardee
1 ISO 37001 TUV Nord Indonesia Medco Power head office, EPE, MPE, BJI, PPP, MEB-DEB,
ELB, TJBPS, MRPR
2 ISO integrated 9001, 14001 TUV Nord Indonesia Medco Power head office, MEB, ELB, TJBPS, MPSI, MEB-DEB
and 45001
3 ISO/IEC 17025 National Accreditation TJBPS
Committee
4 Occupational Health and Ministry of Manpower EPE, MPE, MRPR, MPSI, TJBPS, ELB
Safety Management System
5 Contractor Safety PT PLN South Sumatra Unit EPE, MPE
Management System
PT Medco Power Indonesia 20 2024 Annual & Sustainability Report
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Achievements
Ijen Geothermal Phase-1, with a capacity of 35 MW, reached
mechanical completion in December 2024 and commercial
operation in February 2025. This is the first geothermal power in
East Java.
Received a Conditional License from Singapore’s Energy Market
Authority to import 600 MW of solar power, paving the way for
a large-scale solar project at Bulan Solar PV with a capacity of
2,000 MWp of solar PV.
Medco Power advanced other solar initiative in 2024. The East
Bali Solar PV project, a 25 MWp plant, progressed successfully
and will reach commercial operation in the second quarter of
2025.
Secured a PSPE for geothermal exploration at Samosir, North
Sumatra, located within the same region to the existing Sarulla
operations. This license enables Medco Power to conduct
in-depth resource assessments, a pivotal step towards further
unlocking the region’s geothermal potential.
Progressing land acquisition and site preparation, Medco Power
is advancing the drilling preparation of the 60 MW Bonjol
Geothermal project in West Sumatra.
PT Medco Power Indonesia 21 2024 Annual & Sustainability Report
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Management Discussion and Analysis 24 Financial Performance Analysis 26 Capital Expenditure 26 Capital Structure, Liquidity and Dividends 27 Business Prospects and Challenges
Page 25
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Corporate Governance Sustainability Report Attachments
MEB Gas-fired IPP
Located in Batam, Riau Islands
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Financial
Review
In 2024, Medco Power recorded total power sales of 4,108 GWh, with the majority—3,277 GWh—generated from
gas-fired IPPs. Geothermal IPPs contributed 715 GWh, while solar PV and hydro combined delivered 116 GWh,
marking a 17.17% increase from 99 GWh in 2023.
The Company reported a rise in total billing revenue to Rp1,721 billion in 2024, up from Rp1,700 billion in the
previous year. In line with applicable accounting standards, Rp746 billion was recognized as power sales revenue,
slightly below the Rp747 billion recognized in 2023. The variance between total billing and recognized revenue is
attributed to adjustments required under financial reporting standards, which treat the difference as a deduction
from lease receivables or concession financial assets.
As the Bali Solar PV and Ijen Geothermal projects fall under service concession arrangements, their construction
progress contributes directly to the Company’s construction revenue. In 2024, construction income declined by
49%, from Rp2,494 billion in 2023 to Rp1,277 billion, reflecting the near completion of these projects ahead of their
2025 commercial operation target.
In 2024, Medco Power recorded EBITDA of Rp718 Billion and Rp108 billion loss for the year due to prolonged
maintenance shutdowns at the MRPR Riau and DEB Batam IPP, and mini-hydro assets impairments. However,
the year ended in a positive note with the mechanical completion of the Ijen Phase I facility. The Bali Solar PV and
Ijen geothermal assets will both contribute in 2025 and will add scale to the business. The Company has initiated
a range of activities to strengthen asset reliability and improve cost efficiency across its portfolio.
Income Statement
(Expressed in millions of Rupiah)
Change
Description 2024 2023
Nominal %
Revenue 3,271,302 4,321,575 (1,050,273) (24.30)
Cost of Revenue (2,077,507) (3,202,582) 1,125,075 (35.13)
Gross Profit 1,193,794 1,118,993 74,801 6.68
Operating Expenses (610,164) (564,387) (45,777) 8.11
Other Income 167,406 179,779 (12,373) (6.88)
Other Expenses (171,910) (43,360) (128,550) 296.47
Profit from Operations 579,127 691,025 (111,898) (16.19)
Interest Income 60,246 64,131 (3,884) (6.06)
Finance Cost (686,855) (592,734) (94,121) 15.88
Profit (Loss) Before Income Tax Expenses (47,482) 162,422 (209,904) (129.23)
Income Tax Expense (60,907) (149,848) 88,941 (59.35)
Profit (Loss) for the Year (108,389) 12,574 (120,963) (962.01)
Attributable to Noncontrolling Interests 154,544 179,598 (25,054) (13.95)
Attributable to Equity Holders of the Parent Company (262,933) (167,024) (95,909) 57.42
In 2024, Medco Power recorded a 15.58% increase in total assets, reaching Rp18.41 trillion. This growth was
primarily driven by a 20.76% rise in non-current assets, which increased from Rp12.21 trillion in 2023 to Rp14.74
trillion in 2024. The increase was largely attributed to the recognition of concession financial assets related to the
development of the Ijen Geothermal project.
PT Medco Power Indonesia 24 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
As of year-end 2024, the Company’s equity remained stable at Rp6.6 trillion, consistent with the previous year.
Movements in equity were mainly influenced by gains from foreign currency translation of subsidiaries and positive fair
value adjustments on cash flow hedging instruments, which were partially offset by the net loss recorded for the year.
Balance Sheet
(Expressed in millions of Rupiah)
Change
Description 2024 2023
Nominal %
Total Current Assets 3,668,149 3,720,233 (52,084) (1.40)
Total Noncurrent Assets 14,743,483 12,208,995 2,534,488 20.76
Total Assets 18,411,632 15,929,228 2,482,404 15.58
Total Current Liabilities 3,964,511 3,225,696 738,815 22.90
Total Noncurrent Liabilities 7,802,204 6,150,635 1,651,569 26.85
Total Liabilities 11,766,716 9,376,331 2,390,385 25.49
Total Equity 6,644,916 6,552,897 92,019 1.40
Total Liabilities and Equity 18,411,632 15,929,228 2,482,404 15.58
Cash Flow
(Expressed in millions of Rupiah)
Change
Description 2024 2023
Nominal %
Net Cash from Operating Activities 707,922 905,311 (197,389) (21.80)
Net Cash Used in Investing Activities (590,669) (324,462) (266,207) 82.05
Net Cash Used in Financing Activities (373,505) (1,076,030) 702,525 (65.29)
Net Decrease in Cash and Cash Equivalents (256,253) (495,181) 238,928 (48.25)
Net Foreign Exchange Differences (2,320) (64,350) 62,030 (96.39)
Cash and Cash Equivalents at the Beginning of the Year 1,951,363 2,510,894 (559,531) (22.28)
Cash and Cash Equivalents at the End of the Year 1,692,791 1,951,363 (258,572) (13.25)
Capital Structure - Total Liabilities and Equity
(Expressed in millions of Rupiah)
Change
Description 2024 2023
Nominal %
Short-Term Bank Loans 883,930 964,977 (81,047) (8.40)
Long-Term Loan from Banks and Other Financial 5,943,277 4,988,324 954,953 19.14
Institutions
Sukuk and Bonds 2,151,582 1,409,658 741,924 52.63
Other Liabilities 2,787,927 2,013,372 774,556 38.47
Total Liabilities 11,766,716 9,376,331 2,390,385 25.49
Total Equity 6,644,916 6,552,897 92,019 1.40
Total Liabilities and Equity 18,411,632 15,929,228 2,482,404 15.58
PT Medco Power Indonesia 25 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Capital
Expenditure
Medco Power total capital expenditure in 2024 was Rp2,175 billion (gross), focused on the 110 MW Ijen Geothermal,
Bali Solar PV with two 25 MWp units, and the 39 MW Energi Listrik Batam Expansion project. These demonstrate
Medco Power’s strong commitment to accelerate renewables and energy transition.
(Expressed in millions of Rupiah)
Change
Description 2024 2023
Nominal %
Concession Financial Assets 1,202,077 1,213,197 (11,120) (0.92)
Fixed Assets 906,662 606,443 300,219 49.50
Exploration and Evaluation Assets 25,905 3,331 22,574 677.70
Investment in Shares 40,250 31,000 9,250 29.84
Total Capital Expenditure 2,174,894 1,853,971 320,923 17.31
Capital Structure, Liquidity,
and Dividends
Medco Power continues to uphold a prudent capital structure and a stable financial outlook. The Company
actively reviews and manages its capital composition to support operational efficiency, profitability, and long-term
shareholder value. This approach takes into account future capital requirements, operating cash flows, capital
expenditures, and strategic investment opportunities.
Throughout 2024, Medco Power maintained a solid liquidity position, with sufficient internal resources and access
to financing facilities to meet both short and long-term obligations. Total liabilities increased by 25%, rising from
Rp9.4 trillion in 2023 to Rp11.8 trillion in 2024, primarily driven by project financing to support the Company’s
ongoing infrastructure and energy development initiatives.
Medco Power’s dividend policy is determined by the Company’s financial capacity, with careful consideration
given to the availability of cash after meeting operational funding requirements, scheduled loan repayments and
interest obligations, as well as ongoing capital investment programs.
In 2024, following a review of its financial priorities, the Company decided not to declare or distribute any dividends
to shareholders
PT Medco Power Indonesia 26 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
Business Prospects and
Challenges
In 2025, the Company is continuing to capitalize on growth opportunities in the renewable energy sector by
expanding its portfolio, with a strategic emphasis on geothermal and solar PV projects. By integrating advanced
technologies such as energy storage systems and digitalization, we aim to enhance operational efficiency and
resilience. Additionally, our ongoing gas-to-power initiatives will support the broader energy transition and
diversify our energy mix.
To accelerate growth and innovation, we will actively pursue strategic acquisitions, joint ventures, and partnerships
that provide access to cutting-edge technologies and increase generation capacity. However, these ambitions
come with challenges, including navigating regulatory complexities, managing capital-intensive investments, and
ensuring seamless integration of new assets.
Despite these hurdles, we remain firmly committed to upholding the highest safety standards, meeting project
milestones, and driving operational and cost efficiencies across all business units.
Ijen Geothermal IPP
Located in Blawan Ijen, East Java
PT Medco Power Indonesia 27 2024 Annual & Sustainability Report
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Business Activities 30 Business Activities 32 Asset Information
Page 31
3
Corporate Governance Sustainability Report Attachments
Ijen Geothermal IPP
Located in Blawan Ijen, East Java
Page 32
Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile Business Activities [OJK C.4][GRI 2-6] Medco Power owns and operates 16 gas, solar PV, geothermal, and mini-hydro IPPs (both operating and under construction) while also providing O&M services to six power plants across Indonesia. In 2024, the company achieved key project milestones and maintained a strong safety record. Total Power sales reached 4,108 GWh, with 20% derived from renewables—up from 19% in 2023, demonstrate its commitment to advancing clean and renewable energy, and key contributor in Indonesia’s energy transition towards net-zero emissions. This commitment is underpinned by a strong focus on safety and operational excellence. We also made cost efficiencies through synergies, asset integration and organizational change and significantly progressed on our clean and renewable energy projects. Our capital spending of Rp2,175 billion (gross) was focused on Ijen Geothermal Phase 1, East Bali Solar PV and the Energi Listrik Batam Expansion that will convert waste heat to energy. Throughout the year we maintained stakeholder engagement to create positive impacts – including providing job opportunities for communities in the areas in which we operate – and prevent adverse impacts. At Ijen Geothermal, the first geothermal plant in East Java, we reached mechanical completion of Phase 1 (35 MW) in December 2024, and commercial operations in February 2025. We were granted a license to begin preliminary surveying for a 40 MW power project at Samosir Geothermal in North Sumatra. The resource is strategically positioned near the Sumatra grid. We also renewed the O&M contract for Sarulla Geothermal and secured the O&M contract for Ijen Geothermal. For the 60 MW Bonjol Geothermal project, we advanced land acquisition and site preparation and expect drilling to begin in Q2-2025. We anticipate the remaining two projects to be operational by 2025. The 39 MW Energi Listrik Batam Expansion is an energy efficiency initiative that converts waste heat into electricity. By the end of 2024, the project had reached 90% completion, keeping us on schedule for commercial operations in Q3-2025. Meanwhile, the East Bali Solar PV project progressed as planned, positioning it for commercial launch in Q2-2025. At the Bulan Solar PV project, following the conditional license to supply 600 MW from Energy Market Authority Singapore, we are now in progress of conducting marine surveys, feasibility studies and regulatory compliance. We prioritize health and safety, and promote a culture of continuous improvement. In 2024 we recorded zero lost time incidents and again, no occupational illness. We maintained a maturity level of three (independent) for our safety culture and achieved 49,681,810 total cumulative safe working hours. We maintained our SMK3 certification in 2024, which covers five assets, ISO 45001 certification on occupational safety management systems, ISO 9001 certification on quality management systems and ISO 14001 certification on environmental management. We also implemented a Security Management System to improve our risk assessments for security threats, and we comply with laws, regulations and Indonesian industry standards. In 2025, our power sales growth will be underpinned by Ijen Geothermal, East Bali Solar PV and Energi Listrik Batam. Work on these projects progressed smoothly in the first months of 2025. We reached commercial operation for Ijen Geothermal in Q2-2025, for East Bali Solar PV in Q2-2025 and expect to reach commercial operations at Energi Listrik Batam in Q3-2025. PT Medco Power Indonesia 30 2024 Annual & Sustainability Report
Page 33
Corporate Governance Sustainability Report Attachments We will also continue to advance other projects – Bulan Solar PV, Ijen Geothermal Phase 2 and Bonjol Geothermal – while reviewing acquisition opportunities, including potential joint ventures and partnerships in Indonesia and Southeast Asia to scale capacity and access advanced technologies. With our safety-first mindset, we will continue to implement the highest safety protocols across all operations to ensure a safe working environment and continuous improvement. We are driving operational efficiencies and will further optimize performance in 2025, having put in place a broad new initiative in 2024 to improve maintenance and reliability. We are working towards targets for selected assets, and will optimize performance and energy distribution. We will also continue to improve cost efficiency across all assets. East Bali Solar PV IPP Located in East Bali PT Medco Power Indonesia 31 2024 Annual & Sustainability Report
Page 34
Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Asset
Information
Gas-fired Power Plants
PT MITRA ENERGI BATAM PT DALLE ENERGY BATAM
Location Batam, Riau Islands Location Batam, Riau Islands
Status Operating Status Operating
Ownership 54% PT Medco Energi Menamas, 10% 79.99% PT Medco Kansai Power
Medco Power, 6% YPK PLN, 30% Ownership Indonesia, 20% PLN Batam, 0.01%
PT PLN Batam PT Dalle Energy
Capacity 85 MW generated from 2 x 27.75 Capacity 85 MW generated from 2 x 27.75
MW gas-fired units, 20.6 MW from MW gas-fired units, 20.6 MW from
combined cycle units and 8 MW via a combined cycle and 8 MW via a chiller
chiller system system
PT ENERGI PRIMA ELEKTRIKA PT MULTIDAYA PRIMA ELEKTRINDO
Location Prabumulih, South Sumatra Location Palembang, South Sumatra
Status Operating Status Operating
Ownership 92.5% PT Medco Kansai Power Ownership 85% PT Medco Kansai Power
Indonesia, 7.5% PT PLN Enjiniring Indonesia, 15% PT PLN Enjiniring
Capacity 12 MW Capacity 12 MW
PT ENERGI LISTRIK BATAM PT MEDCO RATCH POWER RIAU
Location Batam, Riau Islands Location Pekanbaru, Riau
Status Operating Status Operating
Ownership 95% PT Universal Batam Energy, 1.51% Ownership 51% PT Medco Power Sentral
PT Universal Gas Energy, 3.49% Medco Sumatera, 49% RH International (Sgp)
Power Corporation Pte., Ltd.
Capacity 76 MW in operation and 39 MW Capacity 275 MW
expansion under construction
Geothermal
SARULLA OPERATIONS LTD PT MEDCO CAHAYA GEOTHERMAL
Location Sarulla, North Sumatra Location Banyuwangi, East Java
Status Operating Status Construction
Ownership 18.9975% Medco Power, 18.2525% Ownership 51% PT Medco Geothermal Indonesia,
INPEX, 25% Itochu, 25% Kyushu Electric 49% PT Ormat Geothermal Power
Power Co., 12.75% Ormat International
Capacity 330 MW Capacity 110 MW; 35 MW for Phase 1
PT MEDCO GEOTHERMAL SUMATERA PT MEDCO POWER GEOTHERMAL ENERGI
Location Bonjol, West Sumatra Location Samosir, North Sumatra
Status Development Status Development
Ownership 49% Medco Power, 51% Ownership 99.92% PT Medco Geothermal
PT Medco Geothermal Indonesia Indonesia, 0.08% PT Medco
Geothermal Nusantara
Capacity 60 MW Capacity 40 MW
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Renewable Energy
PT PEMBANGKITAN PUSAKA PARAHIANGAN PT BIO JATROPHA INDONESIA
Location Cianjur, West Java Location Cianjur, West Java
Status Operating Status Operating
Ownership 99.99% Medco Power, 0.01% Ownership 99.99% PT Sangsaka Agro Lestari,
PT Dalle Panaran 0.01% PT Sangsaka Hidro Selebes
Capacity 9 MW mini-hydro Capacity 9 MW mini-hydro
PT MEDCOPOWER SOLAR SUMBAWA PT MEDCOSOLAR BALI TIMUR
Location Sumbawa, West Nusa Tenggara Location East Bali, Bali
Status Operating Status Construction
Ownership 50% PT Medcopower Energi Baru, Ownership 51% Medco Power, 49% Solar
50% PT Amman Mineral Internasional Philippines Power Project Holdings, Inc
Capacity 26 MWp solar PV Capacity 25 MWp solar PV
PT MEDCO SOLAR BALI BARAT PT TEKNOLOGI DATA INFRASTRUKTUR
Location West Bali, Bali Location Batam, Riau Islands
Status Development Status Construction
Ownership 51% Medco Power, 49% Solar Ownership 60% PT Telkom Data Ekosistem, 35%
Philippines Power Project Holdings, Inc Nxera ID Pte. Ltd., 5% Medco Power
Capacity 25 MWp solar PV Capacity 54 MW data center
PT MEDCOPOWER TRANSPORTASI LISTRIK PT MEDCO PASIFIK SOLAR TRANSMISI
Location Jakarta Location Batam, Riau Islands
Status Operating Status Development
Ownership 99% PT Medcopower Energi Baru, 1% Ownership 99.90% Medco Power, 0.10%
Medco Power PT Medco Solar Pasifik
Operation & Maintenance
PT TJB POWER SERVICES PT MEDCO GEOTHERMAL SARULLA
Location Jepara, Central Java Location North Tapanuli, North Sumatra
Status Operating Status Operating
PT MEDCOPOWER SERVIS INDONESIA PT MEDCOPOWER ENERGI SERVICES
Location Tenayan, Riau Location Bolaang Mongondow, North Sulawesi
Status Operating Status Construction
PT MEDCOPOWER ENERGI SERVICES PT MEDCO POWER GEOTHERMAL SERVICES
Location Kupang, East Nusa Tenggara Location Ijen, East Java
Status Construction Status Construction
PT Medco Power Indonesia 33 2024 Annual & Sustainability Report
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Company Profile 36 Company History 38 Medco Power in Brief 39 Vision, Mission, and Corporate Values 40 Board of Commissioners Profile 41 Board of Directors Profile 42 Financial Highlights 44 Operational Highlights 46 Share Highlights 46 Share Information 47 Chronology of Listing of Shares and Other Securities 48 Other Securities Information 50 Corporate Data 51 Capital Market Supporting Institutions and Professions 51 Association Membership
Page 37
4
Corporate Governance Sustainability Report Attachments
East Bali Solar PV IPP
Located in East Bali
Page 38
Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Company
History
2004 2008 2013
Setting a Cornerstone in Energy Innovation in Power Generation Portfolio Growth
Infrastructure Solutions Medco Power expanded its
Medco Power marked the Medco Power brought innovative renewable energy portfolio by
cornerstone of its power power generation solutions signing PPAs for Ijen Geothermal
plants business with the through COD TM2500, a truck- and Pusaka mini-hydro power
commencement of commercial mounted gas-fired power plant at plant.
operations of the Panaran 1 (MEB), DEB, supporting changing energy
solidifying its role in supporting needs.
the national energy supply.
2005 2010 2013 & 2014
Strengthening O&M Capabilities Portfolio Strengthening Optimizing Generating Capacity
Medco Power won the O&M Medco Power marked its strategic Medco Power increased the
tender for Tanjung Jati B in expansion by acquiring two efficiency and capacity of its
Jepara, supporting the reliability gas-powered IPPs: EPE & MPE in generating plants, bringing a
and efficiency of Indonesia’s South Sumatra. chiller into commercial operation
energy generation. in 2013 and combined cycle add-
on at MEB in Batam in 2014. This
expanded capacity and helped to
strengthen the area’s electricity
supply.
2006 2011 2016
Energy Infrastructure Growth Strengthening Strategic Strengthening Presence
Medco Power continued to Partnerships and Contracts Medco Power won the tender for
develop electricity capacity Medco Power won the EPC and the Riau gas-fired power plant,
by commencing commercial O&M contract for the Panaran gas a strategic project to support
operations of the Panaran 2 engine owned by PT PLN Batam, national energy security, and
(DEB) solidifying its contribution and built a partnership with commenced commercial
to building Indonesia’s energy Saratoga Power that would bring operations of Tanjung Uncang
supply. more opportunities for long-term simple cycle power plant (ELB),
energy collaboration. further solidifying its presence in
the national power sector.
2007 2012 2017
Entering Renewables Strengthening Presence Important Steps in Renewable
The Company entered renewables Medco Power signed the PPA for Energy Projects
with the Sarulla geothermal Cibalapulang mini-hydro power Commercial operations
project in North Sumatra. plant, strengthening its electricity commenced at Sarulla
supply in this strategic region. Geothermal, North Sumatra,
Pusaka, and Cibalapulang hydro,
significant achievements for
Medco Power in clean energy.
PT Medco Power Indonesia 36 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
2018 2022
Strengthening of Funding Renewable Energy Acceleration
Medco Power strengthened its financial Medco Power made a significant achievement by
foundation through the issuance of three signing the PPA for the East and West Bali Solar PV
batches each of conventional and shariah projects, while establishing a strategic partnership
bonds, while also expanding its operational with Telkom and Singtel to supply renewable energy
scope by securing O&M contracts for the Luwuk for data centers in the Kabil Integrated Industrial
steam gas power plant, Kaltimra steam gas Estate, Batam.
power plant and Riau gas-fired power plant (not
through tender).
2019 2023
Funding Strategy Expansion Sustainable Energy Growth and Expansion
Medco Power extended its funding and issued Medco Power and its consortium partners obtained
three batches of shariah bonds. Conditional Approval from Singapore’s Energy Market
Authority for a solar power plant. Medco Power received
a grant from the USTDA for a wind power feasibility
study in West Sumbawa.
2020
2024
Strategic Partnership Initiative
Medco Power strengthened its commitment
to clean energy, awarded the East and West
Bali Solar PV with PT PLN (Persero). It formed
a strategic alliance with Kansai Electric Power. Utilization of Renewable Energy Potential
Medco Power began the technical
commissioning of Ijen Geothermal in
East Java, a significant step forward
in geothermal power. The Company
conducted the wind power study in West
Sumbawa, further solidifying its position in
renewables.
2021
Strengthening Collaboration
Medco Power further cemented
its strategic alliance with Kansai
Electric Power Company opening up
more opportunities for international
collaboration in sustainable energy and
start a pilot project for solar PV exports
to Singapore.
PT Medco Power Indonesia 37 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Medco Power
in Brief
Medco Power, a subsidiary of MedcoEnergi (MEDC- Medco Power has again made pleasing progress
IDX), is a leading independent power producer, across various projects. The Company reached a highly
developing clean and renewable energy in Indonesia, significant milestone for the Bulan Solar PV project,
with a total power generation capacity of 3,460 MW attaining a Conditional License to import 600 MW of
in 2024 and power sales of 4,108 GWh. The Company solar power into Singapore. It made good progress at
operates gas, solar PV, geothermal and mini-hydro the 25 MWp East Bali Solar PV, which will come online
IPPs on the Indonesian islands of Bali, Batam, Java, in Q2-2025, and advanced the 54 MW Batam Neutra
Sumatra, Sumbawa, Sulawesi, and Timor. It supplies the data center.
Indonesian power grid through state operator PLN and
delivers power to its own captive businesses. Medco In geothermal, at Ijen, Medco Power has completed
Power is also a trusted and reliable provider of Operation mechanical completion of Phase 1 (35 MW), has
and Maintenance (O&M) services in Indonesia, and, begun site preparation for the 60 MW Bonjol project
since 2020, has partnered with Kansai Electric Power and began the survey preparation for the 40 MW
Company on several projects in this sector. Samosir development, following assignment by the
Ministry of Energy and Mineral Resources. In O&M,
Medco Power is committed first and foremost to the Medco Power extended the Sarulla O&M contract to
safety and health of employees. In 2024, the Company 2030 and secured the O&M contract for Ijen; both
recorded zero lost time incidents, another low Total contracts are with affiliate companies. Medco Power
Recordable Injury Rate (TRIR) and a 30% reduction also reached commercial operations at Unit 2 of the
in tier 3 process safety events. Medco Power is also Timor project. Further, the Company in 2024 reached
firmly committed to the energy transition, including in 90% completion at the 39 MW Energi Listrik Batam
Indonesia, where there is healthy growth in electricity Expansion, which will convert waste heat to energy,
demand, 3,600 GW of renewables potential and many and began a wind power study in Sumbawa.
exciting opportunities for independent power producers.
East Bali Solar PV IPP
Located in East Bali
PT Medco Power Indonesia 38 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
Vision, Mission, and
Corporate Values [OJK C.1][OJK F.1]
VISION
To be a leading clean Independent Power Producer
and Operation & Maintenance service company
of choice for investors, shareholders, partners,
employees and communities where we operate.
MISSION
To build a long-term value with portfolio
of clean Independent Power Producer,
Operation & Maintenance and sustainable
renewable energy businesses.
Corporate Values
Professional Ethical Open Innovative
All employees must All employees must All employees must All employees must
conduct themselves in a conduct themselves in an make efforts to promote cultivate a spirit of
professional manner by: ethical manner by: transparency by: innovation by:
• Being competent in • Conducting business • Encouraging informality • Helping to build a
their area of expertise fairly with high moral and openness in culture of trailblazers
• Having a “champion integrity communication at all • Continuously searching
spirit” • Applying the highest levels for innovative solutions
• Always seeking self- ethical standards at all • Building an to achieve better, safer
improvement times environment of trust and cost-effective
• Having professional • Understanding and among employees and outcomes
capabilities and following the Company’s management • Demonstrating
knowing their limits ethics and GCG policies • Being open-minded in intellectual and
thought, behavior, and emotional maturity
work
PT Medco Power Indonesia 39 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Board of Commissioners
Profile
Amri Siahaan Darmoyo Doyoatmojo M. Teguh Pamuji
President Commissioner Commissioner Independent Commissioner
Amri Siahaan Darmoyo Doyoatmojo M. Teguh Pamuji
President Commissioner Commissioner Independent Commissioner
Indonesian citizen, born Indonesian citizen, born Indonesian citizen, born
in 1965, appointed as in 1951, appointed as in 1957, appointed as
President Commissioner of Commissioner of the Independent Commissioner
the Company since 2017. Company since 2011. Earned of the Company since 2018.
Earned a Bachelor’s Degree a Bachelor’s Degree in Earned a Bachelor’s Degree
in Mechanical Engineering Electrical Engineering in Law from Universitas
from Bandung Institute from Bandung Institute Indonesia in 1983, and a
of Technology in 1989, of Technology in 1975, Master’s Degree in Law
and Master of Business and Master of Business in 2002 from Universitas
Administration from the Administration in 1990 and Indonesia. Previously, he
University of Leicester in Master of Science in 1991 held several positions in
2003. Previously, he was Vice in the field of Finance & the Ministry of Energy and
President Government Affairs Business Economy from Mineral Resources (1990-
& Business Support Premier the University of Southern 2018), with the last position
Oil Indonesia in 2011- 2015, California, United States of as Secretary General.
General Manager Operations/ America. Previously, he held
Start-Up Manager Tangguh several managerial positions
LNG, BP Indonesia in 2008- in MedcoEnergi group of
2011, Executive Assistance to companies from 1980 to
COO Atlantic LNG Trinidad & 2011, with the last position as
Tobago in 2007-2008, Vice President Director and CEO
President “Semberah” Asset of MedcoEnergi.
VICO Indonesia in 2004-
2006, Vice President Supply
Chain Management VICO
Indonesia in 2001-2004 dan
Audit & Internal Control
Manager BP Indonesia in
2001. Currently, he also
serves as Director & Chief
Administrative Officer of
MedcoEnergi.
PT Medco Power Indonesia 40 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
Board of Directors
Profile
Femi Firsadi Sastrena Eka Satria Myrta Sri Utami Imron Gazali
Director & Chief Business President Director & Director & Chief Financial Officer Director & Chief Operating Officer
Development & Commercial Officer Chief Executive Officer
Eka Satria Femi Firsadi Sastrena Myrta Sri Utami Imron Gazali
President Director & Chief Director & Chief Commercial and Director & Chief Financial Officer Director & Chief Operating Officer
Executive Officer Business Development Officer
Indonesian citizen, born Indonesian citizen, born in Indonesian citizen, born in Indonesian citizen, born in 1971,
in 1967, appointed as 1972, appointed as Director 1978, appointed as Director appointed as Director of the
President Director of the of the Company since of the Company since 2023. Company since 2022. Earned a
Company since 2017. Earned 2017. Earned a Bachelor’s Earned a Bachelor’s Degree Bachelor’s Degree in Chemical
a Bachelor’s Degree in Civil Degree in Economics from in Architecture Engineering Engineering from Institut
Engineering from Bandung Universitas Trisakti in 1995, from Parahyangan Catholic Teknologi Bandung in 1995,
Institute of Technology in a Graduate Diploma from University in 2002, and a and a Master of Engineering
1990 and a Master’s Degree the University of Berkeley, Master’s Degree in Business in Chemical Engineering from
in Management – Finance Ext. in 1998, and a Master Administration from Texas A&M University in 1998.
from Universitas Indonesia of Business Administration Prasetiya Mulia Business Previously, he was Senior VP
in 2000. Previously, he degree from the Lincoln School in 2006. Previously, Onshore Asset Medco E&P (2021-
was Asset Development University, United States of she was Vice President 2022), Advisor to COO – Lead of
Director of MedcoEnergi America in 1999. Previously, Corporate Planning & Special Task Forces MedcoEnergi
(2011-2017), Vice President he was Head of Corporate Investor Relations of (April 2020-December 2020),
of Project Capability of Portfolio Management of MedcoEnergi (2019-2023), Commercial Director – Copper
MedcoEnergi (2008-2010), MedcoEnergi (2015-2017), Senior Manager Corporate Smelter Project Amman Mineral
Project Manager of Tangguh Head of Commercial of Planning & Investor (2016-2020), Director – Jawa-1 IPP
LNG Gas Processing and PT Medco E&P Indonesia Relations of MedcoEnergi Tender Project Medco Power
major projects at BP (2012-2015), Vice President (2018-2019), and Director Generation (2015-2016), Corporate
Indonesia (1989-2000; – Strategic Planning of of PT Mitra Energi Gas Secretary and Executive Assistant
2000-2008), and work for oil Medco US, LLC, USA (2010- Sumatra – a subsidiary of to President Director & CEO
& gas projects of the Atlantic 2012), Managing Consultant MedcoEnergi (2018-2020). MedcoEnergi (2011-2016), VP
Richfield Company/ARCO of Wood Mackenzie Asia Commercial – 7 Major Projects
(1990-2000) as a Project and Pacific, Singapore (2005- MedcoEnergi (2008-2011),
Engineering Professional in 2010), Associate Director for Deputy Project Director – Sarulla
the development of offshore Financial Advisory Services Geothermal Project Medco Power
and onshore infrastructure of PriceWaterhouseCoopers, (2008-2010), Director Power
development projects for Jakarta and Singapore Development – Indonesia Market
E&P Indonesia. Participated (2000- 2005), and Senior BP Global Power Singapore (2004-
in the BP Executive Program Analyst of Corporate 2008), Commercial Analyst – LNG
– Major Project Leaders of Planning and Investment of to Java Project and Tangguh LNG
the Massachusetts Institute PT Astra International Tbk Project BP Indonesia (2000-2004),
of Technology (MIT) USA in (1995-2000). and Planning Analyst Operation &
2004 Development – ONWJ PSC, ARCO
Indonesia (1998-2000).
PT Medco Power Indonesia 41 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Financial
Highlights
Consolidated Statement of Financial Position
(Expressed in millions of Rupiah)
Description 2022 2023 2024
Total Current Asset 4,259,752 3,720,233 3,668,149
Total Non-current Asset 11,261,880 12,208,995 14,743,483
Total Asset 15,521,631 15,929,228 18,411,632
Total Current Liabilities 2,067,119 3,225,696 3,964,511
Total Non-Current Liabilities 6,722,046 6,150,635 7,802,204
Total Liabilities 8,789,165 9,376,331 11,766,716
Total Equity 6,732,467 6,552,897 6,644,916
Total Liabilities and Equity 15,521,631 15,929,228 18,411,632
Statement of Profit and Loss and Other Comprehensive Income
(Expressed in millions of Rupiah)
Description 2022 2023 2024
Revenue 1,740,076 4,321,575 3,271,302
Cost of Revenue (723,727) (3,202,582) (2,077,507)
Gross Profit 1,016,349 1,118,993 1,193,794
Profit from Operations 589,871 691,025 579,127
Profit Before Income Tax Expense 167,992 162,422 (47,482)
Income Tax Expenses (100,449) (149,848) (60,907)
Profit (Loss) for the Year 67,543 12,574 (108,389)
Total Other Comprehensive Income for the Year – Net of Income Tax 941,261 (125,632) 293,234
Total Comprehensive Income for the Year 1,008,804 (113,057) 184,845
Profit (Loss) for the Year Attributable to the Parent Entity (160,839) (167,024) (262,933)
Profit (Loss) for the Year Attributable to Noncontrolling Interests 228,383 179,598 154,544
Comprehensive Income (Loss) for the Year Attributable the Parent Entity 444,973 (249,098) (79,944)
Comprehensive Income for the Year Attributable to Noncontrolling 563,831 136,040 264,789
Interest
Basic Earnings (Loss) Per Share Attributable to Owners of the Parent (146.21) (151.84) (239.03)
Entity (Full Amount)
PT Medco Power Indonesia 42 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
Consolidated Cash Flow Statement
(Expressed in millions of Rupiah)
Description 2022 2023 2024
Net Cash Provided by Operating Activities 659,243 905,311 707,922
Net Cash Used in Investing Activitiies (1,063,506) (324,462) (590,669)
Net Cash Provided by (Used in) Financing Activities 879,124 (1,076,030) (373,505)
Net Increase (Decrease) in Cash and Cash Equivalents 474,861 (495,181) (256,253)
Net Foreign Exchange Difference 81,174 (64,350) (2,320)
Cash and Cash Equivalents at the Beginning of Year 1,954,858 2,510,894 1,951,363
Cash and Cash Equivalents at the Year-End 2,510,894 1,951,363 1,692,791
Financial Ratios
(Expressed in %)
Description 2022 2023 2024
Return on Assets (ROA) 0.44 0.08 (0.59)
Return on Equity (ROE) 1.00 0.19 (1.63)
Revenues to Total Assets Ratio 11.21 27.13 17.77
Total Liabilities to Equity Ratio 130.55 143.09 177.08
Current Ratio 206.07 115.33 92.52
Interest Coverage Ratio 162.61 155.50 114.57
Debt to Equity Ratio 102.52 112.36 135.12
MRPR Gas-fired IPP
Located in Pekanbaru, Riau
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Operational
Highlights
Power Generated Sales (GWh)
Plant Location Fuel-Type 2020 2021 2022 2023 2024
Gas-fired IPPs
Mitra Energi Batam Riau Islands Gas 539 553 551 565 574
Dalle Energy Batam Riau Islands Gas 625 629 634 579 617
Energi Listrik Batam Riau Islands Gas 521 521 521 521 523
Energi Prima Elektrika South Sumatra Gas 67 71 73 69 72
Multidaya Prima Elektrindo South Sumatra Gas 69 74 74 75 75
Medco Ratch Power Riau Riau Gas - - 1,285 1,544 1,418
Total Gas-fired IPPs 1,821 1,848 3,138 3,354 3,277
Renewable IPPs
Pusaka West Java Mini-hydro 39 41 42 38 44
Cibalapulang West Java Mini-hydro 34 38 33 21 31
Sumbawa West Nusa Solar PV - - 23 40 42
Tenggara
Sarulla North Sumatra Geothermal 744 791 757 702 715
Total Renewable IPPs 817 870 855 801 831
Total Power Generated 2,638 2,718 3,993 4,155 4,108
Sales (GWh)
Sarulla Geothermal IPP
Located in North Tapanuli, North Sumatra
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Corporate Governance Sustainability Report Attachments
Power Capacity
Power Plants Effective Ownership Gross Capacity (MW)
Independent Power Producers (IPPs)
Installed
Mitra Energi Batam 42% 85
Dalle Energy Batam 48% 85
Energi Listrik Batam 43% 76
Singa 100% 7
Energi Prima Elektrika 56% 12
Multidaya Prima Elektrindo 51% 12
Medco Ratch Power Riau 51% 275
Pusaka, Mini-hydro 100% 9
Cibalapulang, Mini-hydro 70% 9
Sarulla, Geothermal 19% 330
Sumbawa, Solar PV* 50% 26
Subtotal 926
Development
West Bali, Solar PV* 51% 25
East Bali, Solar PV* 51% 25
Ijen, Geothermal 51% 110
Energi Listrik Batam Expansion 43% 39
Subtotal 199
Exploration
Bonjol PSPE, Geothermal 100% 60
Samosir PSPE, Geothermal 100% 40
Subtotal 100
Total IPPs 1.225
Operation & Maintenance
Installed
Tanjung Jati B 50% 1.320
Sarulla, Geothermal 62% 330
Riau 62% 275
Timor-1 Unit 2 60% 50
Subtotal 1.975
Development
Sulut-1 Unit 1 & 2 60% 100
Timor-1 Unit 1 60% 50
Ijen, Geothermal 51% 110
Subtotal 260
Total Operation & Maintenance 2.235
Total Gross Capacity 3.460
* Peak gross capacity of solar facilities
PT Medco Power Indonesia 45 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Share
Highlights
Number of Shares
The Company has 1,100,000,000 shares. These are owned by PT Medco Power Internasional (51%; 561,000,000
shares) and PT Medco Energi Internasional Tbk (49%; 539,000,000 shares). The Company’s shares are not listed on
the Indonesia Stock Exchange and are not traded to the public, as of the year ending December 31, 2024.
Share Information [OJK C.3]
Until the year ending December 31, 2024, or the date of submission of this data/information, the Company had not
conducted an initial public offering and had not traded its shares on any stock exchange.
Suspension of Share Trading and/or Delisting
Medco Power Indonesia is a company whose shares are not listed on the Indonesia Stock Exchange (IDX) or are
nonpublic so that they have never been subject to stock-trading sanctions in the form of temporary suspension of
stock trading or delisting of shares.
Corporate Actions
In 2024, the Company did not undertake any corporate actions such as stock splits, stock mergers, the issuance of
stock dividends and bonus shares, and changes in the nominal value of shares.
Share Information
Shareholder Composition The composition of shareholders as of December 31, 2024, is as follows:
Share Ownership at Share Ownership at
January 1, 2024 December 31, 2024
Shareholder
Number of Ownership Nominal Value Number of Ownership Nominal Value
Share (%) (Rupiah) Share (%) (Rupiah)
PT Medco Energi 539,000,000 49.00 539,000,000,000 539,000,000 49.00 539,000,000,000
Internasional Tbk
PT Medco Power 561,000,000 51.00 561,000,000,000 561,000,000 51.00 561,000,000,000
Internasional
Total 1,100,000,000 100.00 1,100,000,000,000 1,100,000,000 100.00 1,100,000,000,000
Majority and Controlling Shareholders
As of December 31, 2024, the major and controlling shareholders of the Company are PT Medco Power Internasional
(51%) and PT Medco Energi Internasional Tbk (49%).
Share Ownership Composition of the Board of Commissioners and Board of Directors
As of December 31, 2024, no members of the Board of Commissioners and Board of Directors has share ownership
in the Company.
PT Medco Power Indonesia 46 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments Chronology of Listing of Shares and Other Securities Chronology of Listing of Shares As of December 31, 2024, the Company has not conducted an initial public offering of shares and listed its shares on the Indonesia Stock Exchange or any other stock exchange. Therefore, the Company does not provide information related to the chronology of share listing, number of shares, nominal value, and offering price from the beginning of listing to the end of the financial year and the name of the stock exchange where the shares of the Issuer or public company nor information related to stock splits, stock mergers (reverse stock), stock dividends, bonus shares and changes in the nominal value of shares, implementation of convertible securities and implementation of capital additions and reductions. Chronology of Other Securities Listing The Company is an issuer of debt securities and sukuk that have been registered on the Indonesia Stock Exchange. PT Medco Power Indonesia 47 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Other Securities
Information
The Company has issued debt securities in the form of bonds and sukuk, which are shown in the following table:
2020 2021 2022 2023 2024
Rupiah Bonds I Year 2018 Tranche C with Interest Rate of 10.75% due on 4 July 2025
Bond rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 258,000,000,000 258,000,000,000 258,000,000,000 258,000,000,000 258,000,000,000
Unamortized discounts (2,514,804,170) (2,068,528,110) (1,570,501,721) (1,014,724,014) (394,498,125)
Total Outstanding 255,485,195,830 255,931,471,890 256,429,498,279 256,985,275,986 257,605,501,875
Total Interest expense 27,735,000,000 27,735,000,000 27,735,000,000 27,735,000,000 27,735,000,000
Rupiah Sukuk Wakalah I Year 2018 Tranche C with Interest Rate of 10.75% due on 4 July 2025
Bond rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 43,000,000,000 43,000,000,000 43,000,000,000 43,000,000,000 43,000,000,000
Unamortized discounts (419,134,028) (344,754,685) (261,750,287) (169,120,669) (65,749,688)
Total Outstanding 42,580,865,972 42,655,245,315 42,738,249,713 42,830,879,331 42,934,250,312
Total Interest expense 4,622,500,000 4,622,500,000 4,622,500,000 4,622,500,000 4,622,500,000
Rupiah Sukuk Wakalah II Year 2019 Tranche B with Interest Rate of 10.55% due on 23 May 2024
Bond rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 7,000,000,000 7,000,000,000 7,000,000,000 7,000,000,000
Unamortized discounts (128,960,225) (96,154,782) (59,480,005) (18,479,514)
REPAID
Total Outstanding 6,871,039,775 6,903,845,218 6,940,519,995 6,981,520,486
Total Interest expense 738,500,000 738,500,000 738,500,000 738,500,000
Rupiah Sukuk Wakalah II Year 2019 Tranche C with Interest Rate of 11.1% due on 23 May 2026
Bond rating A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo) A (Pefindo)
Total 10,300,000,000 10,300,000,000 10,300,000,000 10,300,000,000 10,300,000,000
Unamortized discounts (302,435,488) (260,086,518) (212,443,649) (158,845,109) (98,546,401)
Total Outstanding 9,997,564,512 10,039,913,482 10,087,556,351 10,141,154,891 10,201,453,599
Total Interest expense 1,143,300,000 1,143,300,000 1,143,300,000 1,143,300,000 1,143,300,000
Rupiah Shelf Registered Sukuk Wakalah I Phase I Year 2022 Tranche A with Interest Rate 8.00% due on 4 August 2025
Bond rating A (Pefindo) A (Pefindo) A (Pefindo)
Total 280,000,000,000 280,000,000,000 280,000,000,000
Unamortized discounts (2,336,465,132) (1,491,143,000) (572,377,808)
Total Outstanding 277,663,534,868 278,508,857,000 279,427,622,192
Total Interest expense 9,271,111,111 22,400,000,000 22,400,000,000
Rupiah Shelf Registered Sukuk Wakalah I Phase I Year 2022 Tranche B with Interest Rate 9.25% due on 4 August 2027
Bond rating A (Pefindo) A (Pefindo) A (Pefindo)
Total 220,000,000,000 220,000,000,000 220,000,000,000
Unamortized discounts (3,267,703,236) (2,685,235,664) (2,044,028,099)
Total Outstanding 216,732,296,764 217,314,764,336 217,955,971,901
Total Interest expense 8,422,638,889 20,350,000,000 20,350,000,000
PT Medco Power Indonesia 48 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
2020 2021 2022 2023 2024
Rupiah Shelf Registered Sukuk Wakalah I Phase II Year 2022 Tranche A with Interest Rate 9.00% due on 30 December 2025
Bond rating A (Pefindo) A (Pefindo) A (Pefindo)
Total 469,690,000,000 469,690,000,000 469,690,000,000
Unamortized discounts (1,917,509,425) (1,992,861,024) (1,042,223,123)
Total Outstanding 467,772,490,575 467,697,138,976 468,647,776,877
Total Interest expense 117,422,500 42,272,100,000 42,272,100,000
Rupiah Shelf Registered Sukuk Wakalah I Phase II Year 2022 Tranche B with Interest Rate 9.50% due on 30 December 2027
Bond rating A (Pefindo) A (Pefindo) A (Pefindo)
Total 130,310,000,000 130,310,000,000 130,310,000,000
Unamortized discounts (531,990,575) (1,111,159,395) (878,325,660)
Total Outstanding 129,778,009,425 129,198,840,605 129,431,674,340
Total Interest expense 34,387,361 12,379,450,000 12,379,450,000
Rupiah Shelf Registered Sukuk Wakalah I Phase III Year 2024 Tranche A with Interest Rate 8.55% due on 18 January 2027
Bond rating A (Pefindo)
Total 175,995,000,000
Unamortized discounts (590,672,159)
Total Outstanding 175,995,000,000
Total Interest expense 13,793,608,125
Rupiah Shelf Registered Sukuk Wakalah I Phase III Year 2024 Tranche B with Interest Rate 9.50% due on 18 January 2029
Bond rating A (Pefindo)
Total 494,490,000,000
Unamortized discounts (3,261,453,025)
Total Outstanding 494,490,000,000
Total Interest expense 43,061,837,500
Rupiah Shelf Registered Sukuk Wakalah I Phase III Year 2024 Tranche C with Interest Rate 10.00% due on 18 January 2031
Bond rating A (Pefindo)
Total 79,515,000,000
Unamortized discounts (769,724,277)
Total Outstanding 79,515,000,000
Total Interest expense 7,288,875,000
PT Medco Power Indonesia 49 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Corporate
Data [OJK C.2][OJK C.3][OJK C.4][GRI 2-1][GRI 2-6]
Company Name PT MEDCO POWER INDONESIA
Date of Establishment January 28, 2004
Legal Basis of Establishment Notarial Deed of Establishment of PT Medco Power Karimata No, 97 dated January
28, 2004 by Notary Maria Theresia Suprapti, S.H.
Business Field Electricity Generation and Operation and Maintenance Provider
Authorized Capital 2,000,000,000 shares with a nominal value of Rp1,000 per share.
Issued and Paid-up Capital 1,100,000,000 shares with a nominal value of Rp1,000 per share.
Shareholder Shareholders Ownership Percentage
• PT Medco Power Internasional 51.00%
• PT Medco Energi Internasional Tbk 49.00%
Total Employee 1,013 employees
Address The Energy Building Floors 7-8, SCBD Lot 11A
Jl. Jendral Sudirman Kav. 52–53, Kelurahan Senayan, Kecamatan Kebayoran Baru,
Jakarta Selatan 12190, Indonesia
Corporate Secretary E-mail : corsec.mpi@medcoenergi.com
Phone : +62-21 2995 3300
Website www.medcopower.co.id
In compliance with OJK Regulation No. 8/POJK.04/2015 concerning the Website of Issuers
or Public Companies and is a form of implementation of the principles of transparency
and openness of information.
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Corporate Governance Sustainability Report Attachments
Capital Market Supporting
Institutions and Professions
In 2024, the Company is assisted as follows by capital market supporting institutions and professions in carrying
out its business activities:
Type of Capital Market Supporting
Name and Address
Institutions and Professions
Public accounting firm KAP Purwantono, Sungkoro & Surja
(member firm of Ernst & Young Global Limited)
Indonesia Stock Exchange Building Tower 2, 7th Floor
Jl. Jend. Sudirman Kav. 52-53, Jakarta, 12190
Rating agency PT Pemeringkat Efek Indonesia (PEFINDO)
Setiabudi Atrium 8th Floor, Suite 809-810
Jl. H.R. Rasuna Said Kav. 62, Jakarta 12920, Indonesia
Tel: +62-21 521 0077
Indonesian central securities PT Kustodian Sentral Efek Indonesia (KSEI)
depository Indonesia Stock Exchange Building
Tower I, 5th Floor
Jl. Jenderal Sudirman Kav. 52-53, Jakarta 12190, Indonesia
Tel: +62-21 515 2855
Stock exchange Bursa Efek Indonesia (BEI)
Stock Exchange Building Tower 1
Jl. Jenderal Sudirman Kav. 52-53, Jakarta 12190, Indonesia
Tel: +62-21 0800 100 9000
Trustee PT Bank Mega Tbk
Menara Bank Mega, 16th Floor
Jl. Kapten Tendean No. 12-14A, Jakarta, 12790
Association
Membership [OJK C.5][GRI 2-28]
The Company is actively involved as a member in several associations related to its business activities in Indonesia.
As of December 31, 2024, the Company is involved in several associations as follows:
Association Name Membership Status
Masyarakat Energi Terbarukan Indonesia (METI) Member and management
Asosiasi Pengusaha Indonesia (APINDO) Member and management
Kamar Dagang dan Industri (KADIN) Member and management
Indonesian Geothermal Association (INAGA-API) Member and management
Masyarakat Ketenagalistrikan Indonesia (MKI) Member
Asosiasi Produsen Listrik Swasta Indonesia (APLSI) Member
Indonesia Corporate Secretary Association (ICSA) Member
PT Medco Power Indonesia 51 2024 Annual & Sustainability Report
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Corporate Governance 54 Commitment to Good Corporate Governance 55 General Meeting of Shareholders 56 Board of Commissioners 58 Board of Directors 60 Audit Committee 63 Nomination and Remuneration Committee 64 Supply Chain Management Committee 64 Risk Management Committee 65 Corporate Secretary 66 Internal Audit and Integrity Compliance 68 Public Accountant 70 Risk Management 72 Internal Control System 73 Whistleblowing System 74 Business Ethics Guidelines
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Corporate Governance Sustainability Report Attachments
Our Corporate Values
Page 56
Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Commitment to Good
Corporate Governance
Medco Power is committed to implementing GCG as the primary foundation for its business. The Company’s
governance framework is based on four key pillars – ethics, transparency, accountability and sustainability – and its
commitment to GCG is reflected in every aspect of its operations. This ensures regulatory compliance, enhances
Company performance and protect the interests of shareholders and other stakeholders.
In line with MedcoEnergi, Medco Power implements corporate governance principles by adhering to laws and
regulations and strives to build trust, maintain its reputation and create long-term value. The Company believes
that optimizing the implementation of governance across all units will maintain a sustainable business and
increase stakeholder trust.
Medco Power’s governance structure is based on Law No. 40 of 2007 concerning Limited Liability Companies,
its own Articles of Association and the Guidelines for the Implementation of GCG, which were issued by
MedcoEnergi and apply to the Company and its subsidiaries. The Company management structure comprises the
General Meeting of Shareholders (GMS), the Board of Commissioners and the Board of Directors. The Company
has also established supporting functions for the implementation of GCG; these are overseen by the Boards of
Commissioners and Directors.
Corporate Governance Structure [GRI 2-9]
Shareholders
Board of Commissioners
Board of Directors
Nomination and
Risk Management Audit
Remuneration
Committee Committee
Committee
Supply Chain
Corporate Internal Audit and
Management
Secretary Integrity Compliance
Committee
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Corporate Governance Sustainability Report Attachments
General Meeting of
Shareholders
The GMS is a governance organ and the highest governance authority, as stipulated in Law No. 40 of 2007
concerning Limited Liability Companies and the Company’s Articles of Association. The GMS is a forum through
which shareholders determine the direction of the Company and receive reports from the Board of Commissioners
and the Board of Directors, who are accountable to shareholders for carrying out their duties and for their
performance.
The GMS is regulated by Law No. 40 of 2007 concerning Limited Liability Companies and by the Company’s Articles
of Association. The decisions taken at the GMS are implemented by the Board of Directors with supervision and
direction from the Board of Commissioners.
Annual General Meeting of Shareholders for the 2023 Financial Year
On June 4, 2024, Medco Power circulated written resolutions in lieu of an AGMS:
No. Resolution
1 To approve the annual report and financial statements for the financial year ending on December 31, 2023 and further
accept and ratify the Company’s annual report and financial statements for the financial year ending on December 31,
2023, as audited by the public accounting firm KAP Purwantono, Sungkoto & Surja (Ernst & Young) as stated in Letter No.
00504/2.1032/AU.1/02/1175-4/1/IV/2024 dated April 2, 2024 with an unqualified opinion.
2 To approve and grant full release and discharge to the Commissioners and Directors of the Company for the supervisory
and management actions they carried out during the 2023 financial year to the extent that such supervisory and
management actions are reflected in the balance sheet and profit and loss calculation as of December 31, 2023, and
comply with laws and regulations.
3 To grant authority and power to the Company’s Board of Commissioners to appoint and determine the honorarium of a
public accountant to carry out the audit of the 2024 financial report.
4 To approve the determination of salaries and other allowances for members of the Company’s Board of Commissioners
and Board of Directors for 2024, which will be further regulated in separate documentation.
Annual General Meeting of Shareholders for the 2022 Financial Year
In the 2023 financial year, on November 1, 2023, Medco Power circulated written resolutions in lieu of an AGMS:
No. Resolution
1 To approve the annual report and financial statements for the financial year ending on December 31, 2023 and further
accept and ratify the Company’s annual report and financial statements for the financial year ending on December 31,
2023.
2 To approve and grant full release and discharge to the Commissioners and Directors of the Company for the supervisory
and management actions they carried out during the 2023 financial year to the extent that the supervisory and
management actions are reflected in the balance sheet and profit and loss calculation as of December 31, 2023, and
comply with laws and regulations.
3 To grant authority and power to the Company’s Board of Directors to appoint and determine the honorarium of a public
accountant to audit the 2024 financial statement.
PT Medco Power Indonesia 55 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Board of
Commissioners
The Board of Commissioners is one of the main 3. Providing opinions and suggestions to the Board
governance organs tasked with carrying out general of Directors and supporting staff regarding the
and/or specific supervision in accordance with the management of the Company. These opinions and
Articles of Association. The Board of Commissioners is suggestions may be provided at joint meetings
also authorized to provide advice, direction and input of the Board of Commissioners and Board of
to the Board of Directors as stipulated in Law No. 40 of Directors.
2007 concerning Limited Liability Companies and the 4. Conducting research and reviewing reports
Company’s Articles of Association. provided by the Board of Directors and
management.
The supervisory function of the Company’s Board of 5. Reporting to the GMS the results of their
Commissioners includes supervision of the financial supervision of the performance of the Board of
reporting process, the risk management system Directors.
and internal control, and the audit process carried 6. Proposing to the GMS a competitive remuneration
out by the Company’s Internal Audit and Integrity system for compensating members of the Board
Compliance division and the external auditor. The of Commissioners and Board of Directors.
Board of Commissioners also supervises the Company’s 7. Reviewing the effectiveness of the internal control
compliance with applicable laws and regulations, and system by assessing the competence and number
ensures the Company meets the standards of conduct of its employees, the scope of their duties and
laid out in corporate documents, including standard authority and the independence of the internal
operating procedures, and acts in line with its ethical auditor.
values. In carrying out its duties and responsibilities, 8. Supervising the implementation of GCG.
the Board of Commissioners is assisted by the Audit
Committee, the Nomination and Remuneration Independence of the Board of
Committee and the Risk Management Committee. Commissioners
All members of the Board of Commissioners must be
Board of Commissioners’ Work independent and not influenced by any party. They
Guidelines must not have any conflict of interest outside the
In carrying out its duties and responsibilities, the interests of the Company, and they must act in good
Board of Commissioners adheres to Law No. 40 of faith, with prudence and responsibly, in accordance
2007 concerning Limited Liability Companies and with laws and regulations.
the Company’s Articles of Association. The Board
of Commissioners is also guided by the Board of Meetings of the Board of Commissioners
Commissioners’ Work Guidelines and the Code of The Board of Commissioners meets in accordance
Ethics. The latter applies to all Commissioners and all with Law No. 40 of 2007 concerning Limited Liability
committees under the Board of Commissioners as they Companies and the Company’s Articles of Association.
carry out their respective duties and responsibilities. In 2024, the Board of Commissioners met 9 (nine)
times. The attendance of each Commissioner is as
Duties and Responsibilities of the Board follows:
of Commissioners
The duties and responsibilities of the Board of No. Name Meetings Attendance %
Commissioners are as follows:
1 Amri Siahaan 9 9 100
1. Supervising the management of the Company by
the Board of Directors, and approving and ratifying 2 Darmoyo 9 9 100
Doyoatmojo
the Company’s work plan and budget.
2. Ensuring the Board of Directors complies with 3 M. Teguh Pamuji 9 9 100
laws and regulations.
PT Medco Power Indonesia 56 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments Performance Assessment of Committees under the Board of Commissioners The Board of Commissioners periodically evaluates the performance of the Audit Committee and the Nomination and Remuneration Committee, the two committees reporting to it. They are evaluated on progress against their work programs stated in the annual work plan and budget, against recommendations and input they provide and against their level of attendance at meetings. In 2024, the Board of Commissioners assessed that the Audit Committee and the Nomination and Remuneration Committee had performed well and each had provided recommendations in line with its duties and responsibilities. PT Medco Power Indonesia 57 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Board of
Directors
The Board of Directors is one of the Company’s main governance organs; it has the duty, authority and responsibility
to manage and administer the Company for the benefit of the Company, as stipulated in Law No. 40 of 2007
concerning Limited Liability Companies and the Company’s Articles of Association. The Board of Directors adheres
to ethical standards, Company values and the principles of GCG in carrying out its duties and responsibilities.
Board of Directors’ Work Guidelines
The implementation of the Board of Directors’ duties is regulated by Law No. 40 of 2007 concerning Limited
Liability Companies and the Company’s Articles of Association. The Board of Directors’ Work Guidelines and the
Code of Ethics apply to all members of the Board of Directors as they carry out their duties and responsibilities.
Board of Directors’ Duties and Responsibilities
The general duties and responsibilities of the Board of Directors are as follows:
1. Carrying out and being responsible for the management of the Company in accordance with the intent and
objectives set out in the Articles of Association.
2. Holding an annual GMS and an extraordinary GMS, as regulated in laws and regulations and the Articles of
Association.
3. Representing the Company inside and outside the court.
Meanwhile, the duties and responsibilities of individual members of the Board of Directors are as follows:
Name Position Duties and Responsibilities
Eka Satria President Director and Chief • Managing the Company as a whole.
Executive Officer • Serving as coordinator, communicator, decision-maker, leader,
manager and executor in running and leading the Company.
Femi Firsadi Sastrena Director and Chief Commercial • Ensuring the Company’s business development align with
and Business Development company’s vision and mission.
Officer • Builds strategic alliances and drive innovation to support
sustainability & ESG-aligned development.
Myrta Sri Utami Director and Chief Financial • Organizing and managing the Company’s finances.
Officer • Making investment and financing decisions for the Company
that affect the Company’s growth rate.
Imron Gazali Director and Chief Operating • Oversees power generations operations to ensure high
Officer reliability, efficiency, and performance.
• Ensures full compliance of regulations requirement through
effective assets operation.
Board of Directors’ Meetings
The policy related to meetings of the Board of Directors is prepared in accordance with Law No. 40 of 2007
concerning Limited Liability Companies and the Company’s Articles of Association. Throughout 2024, the Board
of Directors met every week.
Joint Meetings
Medco Power considers the relationship between the Board of Commissioners and the Board of Directors as a
system of checks and balances, ensuring that each party carries out its duties and responsibilities in managing
the Company with transparency, accountability and mutual respect. This is facilitated by joint meetings of the two
Boards.
PT Medco Power Indonesia 58 2024 Annual & Sustainability Report
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The Board of Commissioners and the Board of Directors are required to hold joint meetings periodically, at least
once every four months, in accordance with Law No. 40 of 2007 concerning Limited Liability Companies and the
Company’s Articles of Association. The level of attendance of each member of the Board of Commissioners and
the Board of Directors at joint meetings in 2024 is as follows:
Total Joint Total Attendance
Name Position
Meetings Attendance Level (%)
Amri Siahaan President Commissioner 9 9 100
Darmoyo Doyoatmojo Commissioner 9 9 100
M. Teguh Pamuji Independent Commissioner 9 9 100
Eka Satria President Director and Chief Executive 9 9 100
Officer
Femi Firsadi Sastrena Director and Chief Commercial and 9 9 100
Business Development Officer
Myrta Sri Utami Director and Chief Financial Officer 9 9 100
Imron Gazali Director and Chief Operating Officer 9 9 100
Performance Assessment of Committees Performance Assessment Results
under the Board of Directors In 2024, the Board of Commissioners performed
Medco Power has one special committee under well in carrying out its supervisory function over the
the Board of Directors, namely the Supply Chain management of the Company, guided by their key
Management Committee. The Supply Chain performance indicators.
Management Committee assists the Board of Directors
in procurement. The Board of Directors is of the view Performance Assessment of the Board of Directors
that, throughout 2024, the Supply Chain Management The Board of Directors’ performance assessment
Committee carried out its functions and responsibilities is carried out by the Board of Commissioners and
well and provided the recommendations needed to shareholders, both individually and collegially,
manage the Company. through the GMS. The Board of Directors’ performance
evaluation criteria include:
Performance Assessment of the Board of 1. Budget realization.
Commissioners and Board of Directors 2. Operational performance, including production
[GRI 2-18] volume, operational costs, additional production
reserves and occupational health and safety
Performance Assessment of the Board of quality.
Commissioners 3. Financial performance.
Shareholders through the GMS have the right 4. Sustainable growth.
to evaluate the performance of the Board of
Commissioners. The criteria for evaluating the Performance Assessment Results
performance of the Board of Commissioners include: The Board of Directors performed well in 2024,
1. Level of attendance at Board of Commissioners achieving successes on target and adding value to the
meetings and meetings with committees. Company. This performance assessment is guided by
2. Contribution to the Company’s supervision each Director’s key performance indicators.
process.
3. Involvement in certain assignments.
4. Commitment to advancing the interests of the
Company.
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Audit
Committee
The Audit Committee is one of the supporting governance organs formed by and responsible to the Board of
Commissioners. It assists in carrying out the duties and functions of the Board of Commissioners. The Audit
Committee carries out its supervisory function and provides direction and input to the Board of Directors on
matters including financial information, implementation of internal control systems and the Company’s strategy
and management. The Audit Committee is also responsible for reviewing aspects of the Company’s compliance
with rules and regulations.
Audit Committee Charter
In carrying out its duties and responsibilities, the Audit Committee is guided by the Audit Committee Charter,
which is prepared in accordance with POJK No. 55/POJK.04/2015 on the Establishment of and Guidelines for
the Implementation of the Audit Committee’s Work. The Audit Committee Charter was ratified on April 2, 2018.
It regulates the composition, structure and membership requirements of the Audit Committee, as well as the
term of office of each member, their duties, responsibilities and authority, and the work mechanism. The Audit
Committee Charter also serves as a guide and code of ethics for all members of the Audit Committee in carrying
out their duties and responsibilities.
Duties and Responsibilities
The duties and responsibilities of the Audit Committee are as follows:
1. Monitoring the Company’s compliance with laws and regulations in the Indonesian capital market and other
laws and regulations related to the Company’s business.
2. Reviewing financial information to be published by the Company, such as financial statements, projections
and other financial information.
3. Providing independent opinions in the event of differences of opinion between management and independent
auditors.
4. Monitoring the adequacy of management’s efforts to establish and operate effective internal control,
particularly in financial reporting.
5. Providing recommendations to the Board of Commissioners regarding the appointment of independent
auditors to audit the Company and its consolidated subsidiaries based on independence, scope of assignment
and fees.
Composition of the Audit Committee
The composition of the Audit Committee is in line with POJK No. 55/POJK.04/2015 and must consist of at least
three members, including Independent Commissioners and independent parties from outside the Company. One
of the independent parties must have expertise in finance and/or accounting. The composition of the Company’s
Audit Committee as of December 31, 2024, was as follows:
Name Position Basis of Appointment Term of Office
M. Teguh Pamuji Chairman
Board of Commissioners Decree April 1, 2023 –
Ferry Sanjaya Member
No. 037/SK-MPI/BOC/III/2023 dated March 31, 2023. March 31, 2028
Hendry Member
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Profile of the Chairman of the Audit Committee
M. Teguh Pamuji serves as an Independent Commissioner and chairs the Audit Committee. His profile can be seen
in the Company Profile chapter of this annual report.
Profile of Audit Committee Members
FERRY SANJAYA
Audit Committee Member
Indonesian citizen, born in 1971; domiciled in Jakarta; Bachelor of Accounting from STIE Jayakarta (1994);
appointed as a member of the Audit Committee based on Decree of the Board of Commissioners No. 037/
SKMPI/BOC/IV/2018 dated April 2, 2018; previously served as Manager of Consolidation Report at Medco Group
(1992–2016); currently also serves as President Director of PT Indonesia Hijau Dwidaya (2016–present) and Finance
Director of PT Indonesia Hijau Papan (2016–present).
HENDRY
Audit Committee Member
Indonesian citizen, born in 1978; domiciled in Jakarta; Bachelor of Economics from UNIKA Atmajaya (2001);
appointed as a member of the Audit Committee based on Decree of the Board of Commissioners No. 037/SK-
MPI/BOC/IV/2018 dated April 2, 2018; previously served as Chief Financial Officer of SIS Group of Schools (May–
October 2016), Audit Senior Manager of Pricewaterhouse Coopers Jakarta (2014–16) and Audit Senior Manager
of Ernst & Young Jakarta (2010–14); currently also serves as Managing Partner of Public Accounting Firm Hendry
& Kasman (2017–present).
Independence Statement of the Audit Committee
The Company’s Audit Committee acts independently in carrying out its duties and responsibilities. The
independence of each member of the Audit Committee is checked to ensure they meet the following requirements:
· Does not have shares either directly or indirectly in the Company;
· Does not have a business relationship either directly or indirectly related to the Company’s business activities;
· Is not an insider of a public accounting firm, legal consultancy, public appraisal service firm or other party that
has provided audit and/or nonaudit services, assurance services, non-assurance services, appraisal services,
and/or other consulting services to the Company in the last six months;
· Does not concurrently serve as a member of the Audit Committee at a competing issuer or public company
operating in the same business field in that period.
Audit Committee Meeting
In line with POJK No. 55/POJK.04/2015, the Audit Committee Charter stipulates that Audit Committee meetings
are held periodically, at least once every three months. In 2024, the Audit Committee held four meetings as
follows.
No. Name Meetings Attendance %
1 M. Teguh Pamuji 4 2 50
2 Hendry 4 4 100
3 Ferry Sanjaya 4 4 100
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
The agenda for the Audit Committee meetings during 2024 was as follows:
1. Progress of finalizing the 2023 financial statement and audit;
2. Audit and compliance activities, overseeing anti-bribery management systems and progress in reorganizing
the Internal Audit and Integrity Compliance function in 2024;
3. Review of the implementation of the audit and compliance program for the first and second halves of 2024;
4. Review of the internal audit and integrity compliance program for 2025.
Implementation of Audit Committee Activities
Throughout 2024, the Audit Committee carried out its duties and responsibilities as a supporting organ of the
Board of Commissioners. These duties and responsibilities include the following:
1. Reviewing financial information issued by the Company to the public and/or authorities; this information
includes financial statements, projections and other reports related to the Company’s financial information;
2. Reviewing compliance with laws and regulations related to the Company’s activities;
3. Providing an independent opinion in the event of a difference of opinion between management and the
accountant regarding the services provided;
4. Providing recommendations to the Board of Commissioners regarding the appointment of an accountant
based on independence, scope of assignment and costs;
5. Reviewing the implementation of the audit by the internal auditor and supervising the implementation of
follow-up actions by the Board of Directors on the findings of the internal auditor;
6. Reviewing the implementation of risk management activities carried out by the Board of Directors;
7. Reviewing complaints related to the Company’s accounting and financial reporting processes;
8. Reviewing the independence and objectivity of public accountants;
9. Reviewing the adequacy of the audit conducted by public accountants;
10. Examining allegations of errors in decisions taken at meetings of the Board of Directors or irregularities in the
implementation of the results of decisions of the Board of Directors’ meetings;
11. Reporting on the results of all reviews to all members of the Company’s Board of Commissioners;
12. Reviewing and providing advice to the Board of Commissioners regarding potential conflicts of interest of the
Company; and
13. Examining the confidentiality of the Company’s documents, data and information.
MRPR Gas-fired IPP
Located in Pekanbaru, Riau
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Nomination and
Remuneration Committee
The Nomination and Remuneration Committee is one The duties and responsibilities of the Nomination and
of the supporting governance organs of the Board Remuneration Committee related to the remuneration
of Commissioners. It was established to support the function are as follows:
implementation of the functions and duties of the 1. Provide recommendations to the Board of
Board of Commissioners related to the nomination Commissioners regarding the remuneration
and remuneration of members of the Board of structure and policies on remuneration.
Directors and Board of Commissioners. 2. Assist the Board of Commissioners in carrying out
performance evaluations and adjustments to the
Duties and Responsibilities remuneration of each Commissioner and Director.
The duties and responsibilities of the Nomination and
Remuneration Committee related to the nomination Composition of the Nomination and
function are as follows: Remuneration Committee
1. Provide recommendations to the Board of The composition of the Company’s Nomination and
Commissioners regarding the composition of the Remuneration Committee is in line with POJK No.
Board of Directors and Board of Commissioners, 34/POJK.04/2014. It must consist of at least three
policies and criteria required in the nomination members, with the chair required to also be an
process and performance evaluation policies for Independent Commissioner. Two further members
Directors and Commissioners. may be Commissioners, parties outside the Company
2. Assist the Board of Commissioners in assessing or parties holding managerial positions under the
the performance of Directors and Commissioners Board of Directors who are in charge of human
based on benchmarks prepared as evaluation resources.
materials.
The composition of the Nomination and Remuneration
Committee as of December 31, 2024, was as follows:
Name Position Basis of Appointment Term of Office
M. Teguh Pamuji Chairman
In accordance
Board of Commissioners Decree
Amri Siahaan Member with the Articles of
No. 031/SKMPI/BOC/IV/2018 dated April 2, 2018
Association
Darmoyo Doyoatmojo Member
Brief profiles of the three members of the Nomination Implementation of Nomination and
and Remuneration Committee can be found in the Remuneration Committee Activities
Company Profile chapter of this annual report. Throughout 2024, the Nomination and Remuneration
Committee carried out its duties and responsibilities
Nomination and Remuneration as a supporting organ of the Board of Commissioners,
Committee Meetings including the following:
In 2024, the Nomination and Remuneration 1. Providing suggestions regarding the formula for
Committee held three meetings. determining the annual bonus for each Director;
2. Providing advice on the performance evaluation
No. Name Meetings Attendance % scale for the Board of Directors; and
3. Providing suggestions regarding the
1 M. Teguh Pamuji 3 3 100
remuneration calculation formula for Directors
2 Amri Siahaan 3 3 100 and Commissioners.
3 Darmoyo Doyoatmojo 3 3 100
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Supply Chain Management
Committee
The Company has a Supply Chain Management (SCM) Committee to assist the Board of Directors in carrying out
its duties related to procurement. Throughout 2024, the Supply Chain Management Committee held weekly
meetings.
Duties and Responsibilities of the Supply Chain Management Committee
The SCM Committee has the following duties and responsibilities:
1. Evaluating recommendations for contract strategy.
2. Evaluating recommendations for appointing successful bidders and awardees.
Limits of Authority of the Supply Chain Management Committee
The SCM Committee evaluates and approves procurement processes with a value of more than USD 100,000 or
for critical and immediate needs.
Organization of the Supply Chain Management Committee
SCM Committee organization has return to original organization structure, CFO has been re-appointed as a
Committee Member. SCM Committee organization as follows:
1. President Director & Chief Executive Officer as the Chair of the Committee.
2. Director & Chief Financial Officer as a Member of the Committee.
3. Vice President SCM as the Secretary of the Committee.
The sponsor of a transaction consists of the leader of each platform (O&M, Other Renewables, Geothermal, Gas to
Power) and function, according to the procurement stage:
1. Director and Chief Commercial and Business Development Officer for procurement in the pre-operation stage.
2. Director & Chief Operation Officer for procurement in the operational stage.
3. Head of each platform (O&M, Other Renewables, Geothermal, Gas to Power).
4. VP of user-related functions in procurement.
Procedure for meetings of the SCM Committee:
1. The committee and sponsor hold regular meetings once a week or as needed.
2. Each committee member can give approval outside the meeting or appoint a substitute if unable to attend.
3. Written resolutions can be circulated to replace meetings if necessary.
4. The Committee Secretary will send meeting discussion materials no later than one day before the meeting.
5. Functions involved in matters on the agenda are required to attend the Committee meeting; they can attend
via teleconference.
6. At the end of each tender discussion process, the approval document will be circulated to be signed and
uploaded to the Company’s Business Process Management system.
Risk Management Committee
The Risk Management Committee was formed to provide advice and support to the BOC regarding the supervision
of group-level risk management and practices in the Company and its subsidiaries.
Duties and Responsibilities
The duties and responsibilities of the committee are:
1. Issuing directives to align sustainability and risk management with the Company’s strategy.
2. Ensuring that an effective risk management system is in place to mitigate risks to the Company’s sustainable
growth.
3. Reviewing and providing recommendations on key business and operational risks and key indicators.
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Corporate
Secretary
The Corporate Secretary is a governance support organ that acts as a liaison between the Company and external
parties. The Corporate Secretary is also responsible for ensuring that material information related to the Company
and its business can be conveyed accurately and on time.
Duties and Responsibilities
Based on POJK No. 35/POJK.04/2014, the duties and responsibilities of the Corporate Secretary are as follows:
1. Assisting the BOD and BOC in implementing corporate governance in the Company and its subsidiaries
pursuant to company law, capital market regulations and shareholder agreements by: (i) preparing and
organizing the convening of BOD, BOC and shareholders regular and extraordinary meetings; (ii) preparing
the meeting agenda, reviewing and distributing the meeting materials; (iii) documenting the meetings of the
BOD, BOC and shareholders; (iv) taking and distributing the meeting minutes.
2. Providing input to the BOD and BOC on compliance and legal matters relating to company law and capital
market law.
3. Disclosing information and managing capital market reporting to the public on the website, through press
releases and to the media.
4. Remaining up-to-date on regulatory developments in the capital market.
5. Acting as liaison between the Company, the Financial Services Authority (Otoritas Jasa Keuangan; OJK), the
Indonesia Stock Exchange (IDX) and other stakeholders.
6. Leading the preparation and writing of the annual and sustainability reports.
7. Reviewing and advising the Company and its subsidiaries on corporate social responsibility and reporting to
stakeholders.
Corporate Secretary Profile
The Company appointed Fajrah Lestari Akili as Corporate Secretary based on the Decree of the Board of Directors
No. SK-098/MPIHR/DIR/VII/2023 dated July 1, 2023. The brief profile of the Corporate Secretary is as follows:
FAJRAH LESTARI AKILI
Corporate Secretary
Indonesian citizen, born in 1980; domiciled in Jakarta; Bachelor of Laws, Faculty of Law, University of Indonesia;
Master of Notarial Law, Jayabaya University; appointed as Corporate Secretary and Senior Manager Corporate
Communication based on Decree of the Board of Directors of PT Medco Power Indonesia No. SK-098/MPI-
HR/DIR/VII/2023 concerning the Change of Corporate Secretary of Medco Power; previously served as Senior
Manager Legal at Medco Power 2010–2023.
Corporate Secretary Training
In 2024, the Corporate Secretary took part in seminars organized by various institutions, as follows:
1. Sustainability and Climate Change E-learning – in-house training, Jakarta.
2. Indonesian Sustainable Finance Taxonomy (TKBI): Innovating to Achieve Net Zero Emission Goals in Energy
Transition in Indonesia (May 28, 2024) – webinar, Indonesia Corporate Secretary Association (ICSA).
3. What Investors Want from Sustainability Reports – webinar, ICSA.
4. Exploring POJK No. 3/POJK.04/2021 on the Implementation of Activities in the Capital Market Sector – webinar,
ICSA.
5. Enhancing Business Outcomes Through a More Diverse and Family-Friendly Workplace – ICSA.
6. Strategic Finance for Sustainability: The Role of Corporate Secretary as BOD Business Partner to Boost
Sustainability Awareness – webinar, ICSA.
7. Criminalization of the Profession, Is It Possible? – webinar, ICSA.
8. Corporate Secretary Professional Standards Basic Education 1 Batch 3 Jakarta – in-person training, ICSA.
9. Responsible Supply Chain – webinar, IDX and Global Reporting Initiatives.
10. SPE-IDXnet Socialization Related to the Development of AP/KAP Reporting Forms, Structured Warrants and
ESG – webinar, IDX.
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Internal Audit and Integrity
Compliance
Internal Audit and Integrity Compliance is a supporting organ of the Board of Directors tasked with providing
independent and objective recommendations and advice. It evaluates and develops governance processes and
risk management controls effectively using a systematic and disciplined approach, allowing it to meet its goal of
building comprehensive governance.
Internal Audit and Integrity Compliance Charter
The Company has an Internal Audit and Integrity Compliance Charter, which was ratified on April 4, 2018. The
charter is based on POJK No. 56/POJK.04/2015 concerning the Formation and Preparation of the Internal Audit
Unit Charter.
The Internal Audit and Integrity Compliance Charter serves as a guide and code of ethics for all members of
Internal Audit and Integrity Compliance to follow in carrying out their duties and responsibilities.
Among others, the Charter regulates the following aspects of the Internal Audit and Integrity Compliance unit:
1. Structure and position.
2. Duties and responsibilities.
3. Requirements and code of ethics.
4. Authority and accountability.
Duties and Responsibilities
Based on the Internal Audit and Integrity Compliance Charter, the duties and responsibilities of the Internal Audit
and Integrity Compliance team related to internal audit are as follows:
1. Preparing plans and implementing internal audits based on risk priorities by considering the Company’s risk
profile.
2. Testing and evaluating the implementation of internal controls in accordance with Company policies.
3. Conducting inspections and assessments of efficiency and effectiveness in the fields of finance, accounting,
operations, human resources, marketing, information technology and other activities.
4. Providing suggestions for improvement and objective information on activities audited at all levels of
management.
5. Preparing audit report results and submitting the report to the Board of Directors and Board of Commissioners.
6. Monitoring, analyzing and reporting on the implementation of improvements that have been suggested.
7. Cooperating with the Audit Committee.
8. Preparing a program to evaluate the quality of Internal Audit and Integrity Compliance activities as needed.
9. Conducting special inspections if necessary.
The duties and responsibilities of Internal Audit and Integrity Compliance related to integrity compliance are as
follows:
1. Creating and implementing ethics and compliance programs within the Company and subsidiaries of Medco
Power, and reviewing and evaluating compliance issues/problems within the organization.
2. Developing, monitoring and assessing/analyzing all related codes of ethics, policies and procedures and
their implementation and analyzing trends in ethical behavior, violations and incidents and producing
recommendations and reports.
3. Conducting anti-bribery and corruption audits on contractors and educating contractors regarding the
compliance program.
4. Maintaining the Company’s certifications in ISO 37001 Anti-Bribery Management Systems.
5. Conducting campaigns and training and promoting ethics and compliance programs for Medco Power
employees, subsidiaries and business partners.
6. Providing data for the annual report and sustainability report.
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7. Ensuring that the Directors and all employees at the head office and subsidiaries complete the annual
declaration of Statement of Adherence to the Code of Conduct and Conflict of Interest Statement.
8. Ensuring that the Directors, management and employees comply with rules and regulations, that the
Company’s policies and procedures are followed and that behavior within the organization meets the
Company’s Code of Ethics.
Profile of the Head of Internal Audit and Integrity Compliance
The Head of Internal Audit and Integrity Compliance, Irwan Supranto, is directly responsible to the President
Director. He has been appointed based on the Decree of the Board of Directors SK-031/MPI-HR/BOD/VII/2024
dated July 1, 2024. His profile is as follows:
IRWAN SUPRANTO
Head of Internal Audit and Integrity Compliance
Indonesian citizen, born in 1976; domiciled in Jakarta; graduated from the University of Indonesia (2002);
appointed as Head of Internal Audit and Integrity Compliance based on the Decree of the Board of Directors
of PT Medco Power Indonesia SK-031/MPI-HR/BOD/VII/2024 dated July 1, 2024; previously served as Ethics &
Compliance Manager at PT Medco E&P Indonesia (2021–2024).
Internal Audit and Integrity Compliance Meetings
In 2024, Internal Audit and Integrity Compliance held six meetings with the Board of Directors and four meetings
with the Audit Committee. The agenda for these meetings was as follows:
1. Progress of the agenda for the Internal Audit and Integrity Compliance team in 2024.
2. Planning the 2025 agenda for the Internal Audit and Integrity Compliance team.
3. Progress in 2024 in certifying assets in anti-bribery management systems, in signing of Statement of Adherence
to the Code of Conduct and Conflict of Interest Declaration, and celebrating International Anti-Corruption Day
and the Compliance Champion Program.
Internal Audit and Integrity Compliance Competency Development
In 2024, selected staff from Internal Audit and Integrity Compliance participated in training activities to improve
their competency and performance, as follows:
No Training Date Place Organizer
1 Workplace Investigation Workshop July 10–11, 2024 Jakarta In-house
2 Ideagen Internal Audit System July 22, October Jakarta Insight Consulting
10–11, 2024
3 Enterprise Risk Management December 2–4, Bali Center for Risk Management &
Fundamental 2024 Sustainability, Enterprise Risk
Management Associate Professional
4 Certified Compliance Professional December 10–13, Jakarta Center for Risk Management &
2024 Sustainability, Lembaga Sertifikasi
Profesi Mitra Kalyana Sejahtera.
5 Sustainability and Climate Change March 2024 Jakarta In-house
e-Learning
6 Lead & Inspire Session: Optimizing February 2024 Jakarta Daily Meaning consultants
Your Professional Growth Through
Individual Development Plan
7 Internal Audit Report Writing February 15–16, Jakarta Institute of Internal Auditors
2024 Indonesia
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Implementation of Internal Audit and Integrity Compliance Duties
In 2024, Internal Audit and Integrity Compliance carried out its duties and responsibilities as stipulated in the
Internal Audit and Integrity Compliance Charter, namely:
1. General audit, including auditing selected Company subsidiaries, namely TJBPS, BJI, SOL, and MRPR.
2. Third-party compliance, including:
• Vendor audit: auditing three vendors.
• Due diligence: conducting due diligence on three vendors.
• Contractor forum for MCG on July 25, 2024 in Jakarta and MRPR on November 14, 2024 in Pekanbaru to
communicate Company requirements and policies.
3. Implementation of ISO 37001 Anti-Bribery Management Systems:
• New certification for MRPR.
• Recertification audit for MEB, DEB, ELB, and TJBPS.
• First surveillance audit for the head office of Medco Power, BJI, PPP, MPE, and EPE.
4. Introduce ethics & compliance guidelines and programs by conducting business ethics induction for new
employees at least once every two months.
5. Ensure signing of annual declaration of Statement of Adherence to the Code of Conduct and Conflict of
Interest Declaration.
6. Reviewing and analyzing activities involving giving and receiving gifts and entertainment and hosting
government representatives.
7. Commemorating World Anti-Corruption Day by holding a story writing competition for all employees.
8. Collecting and analyzing data and creating narratives related to ethics and compliance activities for the 2024
MedcoEnergi and Medco Power Sustainability Report.
Public
Accountant
The Company has appointed a public accounting firm to audit the Company’s financial statements for the
financial year ending December 31, 2024. The appointment of the public accounting firm was carried out by the
Board of Directors through the AGMS based on the recommendations of the Board of Commissioners and the
Audit Committee.
Based on POJK No. 37/POJK.03/2019 concerning Transparency and Publication of Bank Reports and POJK No.
9 of 2023 concerning the Use of Public Accountant Services and Public Accounting Firms in Financial Services
Activities, as well as the results of the AGMS resolutions, the Company has authorized the Board of Directors
to appoint a public accounting firm as an independent public accountant, and to determine the amount of
honorarium and terms of appointment with the approval of the Board of Commissioners. The Board of Directors
appointed the public accounting firm Purwantono, Sungkoro & Surja to audit the Company’s financial statements
for the financial year 2024.
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The Energy Building
PT Medco Power Indonesia 69 2024 Annual & Sustainability Report
Located in Jakarta
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Risk
Management
The Company implements a comprehensive risk management system to identify, analyze and manage risks that
can affect the achievement of business objectives. The Company’s risk management implementation is designed
to ensure that every risk, whether strategic, operational, financial or compliance, can be anticipated and handled
proactively, so as to maintain business stability and sustainability in facing dynamic economic and industrial
challenges.
Risk Profile
Throughout 2024, the risk identified by the Company and the risk mitigation, includes the following:
Risk Description Risk Mitigation
Company depends on PLN as its • The risk of default by PLN has been mitigated in some PPAs owned by the Company
main customer in IPP activities. through a business viability guarantee letter or business feasibility guarantee letter from
the Ministry of Finance of the Republic of Indonesia.
• Option to terminate the power purchase agreement and require PLN to pay a certain
amount of money to the Company, according to the value of the remaining IPP assets
until the end of the power purchase agreement period listed.
Company’s power plants • Cooperate with suppliers who have good capabilities and reputations, such as PGN,
depend on gas supplies from Pertamina and the Medco Group.
suppliers with timely delivery • Responsibility to provide gas is fully held by PLN, including all risks of gas supply failure,
and in sufficient quantities. which will be the responsibility of PLN and PLN will pay to the IPP as though dispatch
had occurred.
Company may not be able to • The Company focuses on securing gas supply contracts with longer contract terms.
extend its gas supply contracts • In the event there is an increase in the price of the gas supply contract, the Company will
with the same terms and pass on the price increase through adjustments to component C tariffs to customers.
conditions.
Performance of the Company’s • The Company carries out drilling campaigns as accurately as possible, including make-
geothermal power plants up well drilling, to maintain the quantity of steam needed for electricity production, in
depends on the quantity accordance with technical studies conducted by competent third parties.
and quality of the Company’s
geothermal resources.
Operational disruption at the • The Company has insured the majority of facilities owned by the Company.
Company’s power plants. • The Company will be exempted from penalties for failure to produce a certain amount of
electricity as stated in the power purchase agreement if it is caused by natural conditions
(natural force majeure) and/or force majeure due to government action (government
force majeure).
Tight competition from local • The Company cooperates with global players in the power generation industry who
and global players as a positive have experience in developing power generation projects, operating and maintaining
response to the Government’s power generation projects and providing technology for equipment related to power
program in the electricity sector. generation projects, and have energy sources or have the ability to identify energy
sources and investment companies in the electricity sector.
New project development • The Company conducts feasibility studies and due diligence on every acquisition and
involves engineering, financing development project.
and construction risks.
Increases in interest rates and • The Company conducts interest rate swaps to mitigate risk of rising interest rates.
fluctuations in foreign exchange • The Company carries out forward foreign exchange transactions to mitigate exposure to
rates. fluctuations in foreign exchange rates.
• The Company carries cross-currency swaps to mitigate the risk of rising interest rates and
changes in the value of the US dollar against the Company’s bonds.
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In addition to the risks mentioned above, the implementation of the Minister of Energy and Mineral Resources
(MEMR) Regulation No. 11 of 2024 concerning the Use of Domestic Products for Electricity Infrastructure
Development also has an impact on electricity investors in Indonesia, including the Company. The main potential
impacts include:
1. Delayed schedules and increased project costs: The Company must ensure it complies with rules on using
domestic products, which may increase costs and affect schedules, as domestic products may be more
expensive or be of limited availability. If domestic products do not meet the required standards, additional
costs may arise to procure compliant products.
2. Challenging requirements to use domestic products: Meeting the mandatory percentage of domestic
products, especially for advanced technologies, may be difficult, potentially leading to delays and additional
costs.
However, the enactment of this regulation increases reliance on domestic products, and can encourage the
growth of local industries and create new opportunities for adaptive investors.
Risk Management System Effectiveness Review
The Company periodically evaluates the effectiveness of its risk management system. The evaluation is carried
out by Internal Audit and Integrity Compliance in accordance with established procedures. The results of the risk
management evaluation are used to improve the effectiveness of the Company’s risk management system.
Statement of the Board of Directors and/or Board of Commissioners on the Adequacy
of the Risk Management System
Based on the evaluation conducted by management, the implementation of the Company’s risk management
system is adequate in managing the risks faced. In 2024, the Company faced various uncertainties that had the
potential to affect its performance.
In facing the existing risks, the Company implemented a comprehensive risk management system in order to
minimize the potential risks faced and improve risk management and control. The steps taken by the Company in
implementing the risk management system include implementing policies and mechanisms, setting risk limits,
identifying risks, measuring and monitoring types of risks, implementing information systems and risk control,
and implementing an internal control system to support the implementation of the risk management system.
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Internal Control
System
The Company has developed an internal control enhance financial and operational efficiency.
system designed to protect its assets and investments. Additionally, Medco Power ensures that all business
The system consists of: activities comply with regulations and ethical
1. A disciplined and structured internal control standards to maintain integrity and stakeholder trust.
environment;
2. Business risk assessment and management; Reviewing the Effectiveness of the
3. Control activities; Internal Control System
4. Information and communication systems; Periodically, management evaluates the internal
5. Supervision. control system in each division. Evaluation results are
used as inputs for making necessary improvements
Implementation of Financial, Operational, and enhancements.
and Compliance Control Supervision
The implementation of financial, operational and Statement of the Board of Directors
compliance control supervision in Medco Power is and Board of Commissioners on the
carried out comprehensively and continuously to Adequacy of the Internal Control System
ensure the implementation of good governance. Each In 2024, the Board of Commissioners, Board of
division of the Company and its subsidiaries carries Directors and Audit Committee carried out their
out internal control over their respective duties and duties and responsibilities, including conducting an
authorities, and is then evaluated by management. in-depth evaluation of the internal control system.
The Internal Audit and Integrity Compliance division Management assesses that the internal control
assists management by conducting risk-based system implemented by the Company is effective and
audits of the internal control system and providing adequate and is able to implement internal control in
recommendations for improvements. The results achieving business goals without sacrificing financial
of the audits serve as key measures of the system’s performance, compliance and/or reputation.
effectiveness and help guide improvements to
ELB Gas-fired
Located in Batam
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Whistleblowing
System [GRI 2-16][GRI 2-26]
The Company has implemented a whistleblowing system that functions as a reporting channel for employees
and stakeholders, as well as a form of governance implementation. The system allows for safe and confidential
reporting of alleged violations, or other matters, that are contrary to business ethics.
The whistleblowing system is also part of an early detection system that can be used by all stakeholders, both
internal and external, to report any suspected violations in the Company based on accountable evidence and
good intentions. The Company strives to create an honest and integrity-based work environment and ensures that
every report will be followed up professionally and in accordance with regulations and guidelines.
Submitting Reports
Internal and external whistleblowers can report violations through several channels:
External Internal
Lapor-medcoenergi@tipoffs.com.sg mpi.compliance@medcoenergi.com
0800-150-3020 +628119149911
https://idn.deloitte-halo.com/lapor-medcoenergi/
Protection for Whistleblowers The Company requires employees, business partners,
Medco Power is committed to providing protection agents, distributors, contractors and suppliers to
for whistleblowers by keeping the identity of the comply with the Anti-Bribery and Corruption Policy
whistleblower confidential, as well as providing and regulations related to anti-corruption. The
protection from all forms of threats that could Company conducts communications and education
potentially arise from the reports submitted. surrounding the Anti-Bribery and Corruption Policy
periodically to ensure proper understanding by all
Handling and Management of Raised parties.
Concern
The Board of Directors supervises the whistleblower The Company has an anti-bribery and corruption
system. The Company will investigate every report of a management system to ensure compliance and
violation and take actions deemed necessary to resolve prevent bribery. Any individual who is proven to have
it and prevent similar occurrences in the future. If it violated requirements will be faced with disciplinary
is known that the report is not true, the investigation action, which can ultimately lead to dismissal and
process will be stopped and the concern report will accusations that a crime has been committed.
be closed.
Statement of Adherence to GCG
Anti-Bribery and Corruption Policy Principles
The Company has an Anti-Bribery and Corruption Each Director, Commissioner and employee of
Policy. This stipulates that every individual in the MedcoEnergi and all its subsidiaries state that in
Medco Power Group is prohibited from giving or carrying out business activities, they always apply
receiving directly or indirectly in any form anything the principles of GCG and have not violated laws
that can enrich themselves or other parties, as these and regulations. In addition, MedcoEnergi and all its
can have an impact on the decision-making process. subsidiaries is also committed to implementing GCG
The policy also includes programs and procedures in line with applicable regulations and provisions.
implemented to address practices such as corruption,
kickbacks, fraud, bribery and/or gratuities.
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
All levels of the MedcoEnergi organization take responsibility to implement and comply with the statement
of implementation of GCG principles. MedcoEnergi believes that by implementing the principles of good
governance, it can achieve better organizational performance and achieve positive impacts for shareholders and
all stakeholders.
Business Ethics Guidelines
Vision, Mission and Company
Values
Good Corporate Governance Code of Conduct (Our Code)
Manage Organisation Business Manage Employee Business
Conduct Conduct
Business Ethics and Work Ethics
Good Corporate Governance Guidelines
The Good Corporate Governance Guidelines regulates principles regarding the governance of the Board of
Commissioners, Board of Directors, employees and all stakeholders in the Company’s business activities. The
guideline also regulates the implementation of the duties and responsibilities of each governance organ.
Code of Conduct
The Company has a Code of Conduct that elaborates on its values, namely professionalism, ethics, openness and
innovation. The Code serves as a reference for all individuals in carrying out their duties and responsibilities, with
the aim of safeguarding the interests of the Company, shareholders and all stakeholders, in the short and long
term.
Sanctions for Violations of Business Ethics
If a violation of business ethics is proven, the Company will impose sanctions in accordance with regulations
and provisions, and through processes and procedures that include reprimands, warnings, suspensions and
termination of employment.
Legal Cases with Material Impact
In 2024, there were no legal cases with material impact faced by the Company, its subsidiaries, members of the
Board of Directors or members of the Board of Commissioners.
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PT Medco Power Indonesia 75 2024 Annual & Sustainability
East Bali Report
Solar PV IPP
Located in East Bali
Page 78
Sustainability
Report
78 About the Sustainability Report
79 Material Topics Determination and List Process
84 Sustainability Strategy
86 Climate Change Strategy
90 Sustainability Governance
98 Sustainable Economic Performance
106 Environmental Performance
113 Human Resources Management Performance
121 Occupational Health and Safety
127 Community Development Performance
Statement Letter of the Board of Commissioners
131
and Board of Directors
Page 79
6
Corporate Governance Sustainability Report Attachments
Empowerment of coffee farmers
Located in Blawan Ijen, East Java
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
About the Sustainability
Report
Medco Power’s 2024 Sustainability Report was prepared as a form of transparency and the company’s
commitment to implementing responsible business practices. This report provides a comprehensive overview
of the company’s Environmental, Social, and Governance (ESG) performance throughout 2024. By referring to
applicable reporting standards in Indonesia and global, such as POJK and Global Reporting Initiative (GRI), this
report reflects Medco Power’s efforts to create long-term value for stakeholders and support the achievement of
sustainable development goals.
Guidelines and Standards • Financial Services Authority Regulation No.51/POJK.03/2017 concerning the
Implementation of Sustainable Finance for Financial Services Institutions, Issuers,
and Public Companies.
• The report format refers to the Financial Services Authority Circular Letter No.16/
SOJK.04/2021 concerning the Form and Content of Annual Reports of Issuers or
Public Companies
• The 2021 Global Reporting Initiative (GRI Standards) international standard as a
reference
Reporting Cycles and Periods • Published annually
[GRI 2-3] • Reporting period January 1, 2024 to December 31, 2024
• Previous report published in June 2024
Scope and Boundaries [GRI 2-2] The Sustainability Report performance information and data includes environmental,
social, governance, and economic performance covering the operations of the
Company and its subsidiaries.
Restatement [GRI 2-4] There is no restatement in the 2024 Sustainability Report
Previous Report Feedback The Company received OJK letter No. S-1510/PM.212/2024 dated July 29, 2024
Response [OJK G.3] regarding the review of the 2023 Annual Report and Sustainability Report. From the
letter, there are no material responses for the Sustainability Report.
External Party Verification External parties' independent verification (assurance) is not yet being used. The
[OJK G.1][GRI 2-5] verification process is conducted internally, with the information and data in this
report reviewed by the internal team and management.
Reporting Contact [GRI 2-3] Corporate Secretary
Corsec.mpi@medcoenergi.com
Coffee plantation with farmers
Located in Blawan Ijen, East Java
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Material Topics Determination
and List Process [GRI 3-1][GRI 3-2]
In this Sustainability Report, the Company has mapped and determined material topics by involving both internal
and external stakeholders. The process of mapping and determining these material topics was carried out in 2022
and is considered still relevant for this year.
From the involvement of stakeholders, the Company is able to map various topics that have an impact and are of
concern to stakeholders. Furthermore, from these topics, the Company determines topics with “high” importance
or priority, which will then be managed optimally to minimize negative impacts, improve performance, implement
strategies, and meet the Company’s sustainability targets in line with the Sustainable Development Goals (SDGs).
Based on the materiality assessment carried out, there are eight topics with high importance, namely Energy,
Business Ethics, Economic Performance, Emissions, Biodiversity, Occupational Safety and Health, Local
Communities, and Labor Practices.
Influence Stakeholder Assessments and Decision
High
Medium
Low
Low Medium High
Significance of Economic, Social, and Environment Impacts
Energy
Business Ethics
Economic Performance
Emissions
Occupational Health and Safety
Local Communities
Labour Practices
Blodiversity
X-axis : Impact on Company Value
Y-axis : Impact on Social and Environment
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Impact Boundaries and Management Approaches on Material Topic [GRI 3-3]
Energy
Affected Description Strategy and Initiatives
Stakeholders Energy is the Company’s • The Company is tasked with determining and developing clean
Shareholders, main resource that and renewable energy-based power plant development programs,
employees, has an impact on communicating and coordinating program implementation, and
suppliers, stakeholders. By preparing strategic plans to improve power plant efficiency and clean
communities, managing energy, the energy mix.
customers Company can make • Initiating an energy transition, namely the use of renewable energy of
efficiency in processes, 30% of total energy consumption by 2030.
equipment, and
utilization of renewable
energy.
Achievement
• Expansion on portfolio of on clean and renewable energy power plant
• Using technology and resources more efficiently
Economic Performance
Affected Description Strategy and Initiatives
Stakeholders In addition to The The Board of Directors carries out planning, evaluation and supervision to
Shareholders, Company economics, ensure that activities run according to the set targets.
employees, its business activities
suppliers, are expected to have
communities, a positive impact on
customers and the local, regional, and
government national economies.
Achievement
Operating income in 2024 reached Rp579 billion.
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Business Ethics
Affected Description Strategy and Initiatives
Stakeholders The Company’s ongoing • Implementing ISO 37001:2016 Anti-Bribery Management System (SMAP)
Shareholders, efforts to make the certification at the Company’s Head Office and Subsidiaries
employees, principles of GCG a • Making an Anti-Bribery & Corruption Management Commitment
government and part of Medco Power’s declaration
business partners culture. • Holding compliance champions from each subsidiary
• Making procedures regarding anti-bribery and corruption
• Conducting Fraud and Bribery Risk Assessment (FRA), which is reviewed
and updated annually
• Conducting due diligence on vendors
• Conducting audits on third parties
• Making an employee Declaration of Compliance and Conflict of Interest
annually
• Conducting an Employee Engagement Survey
• Socializing Business Ethics to provide information and raise awareness
regarding the Company’s Compliance Program to new employees
• Campaigning the company’s values and Compliance program to Third
Parties/Business Partners
Achievement
Internalization of Company Ethical Value:
Strategic Objective: Rise Employee Awareness and Promote The Implementation of Company Ethical Value in Operational
Activities.
• 13 Business Ethics Inductions to New Hires, with outreach of 163 employees
• 3 Specific Ethics Sessions – Government Hosting for HSE Team, General Ethics Session for BJI Operation, ABMS Awareness
for MRPR Leaders with outreach of 72 employees
• Corporate Mandatory Declaration – SOA and Conflict of Interest Declarations with 100% submissions from all MPI
employees
• 3 Newsletters on Company Ethics agenda published via Corporate Communication
• International Anti-Corruption Day Competition with many competition participants
Seeking Guidance:
Strategic Objective: Provide Guidance for Staffs and Leaders on Business Ethics Measures and Implementations
• 15 SG Handlings ie. Contract GTC Review, MKPI Anti Fraud Questionnaire, OJK Regulatory Compliance Inquiry, Cargil Anti
Bribery Form
• Provide general guidance during Corporate compliance agenda, ie. SOA, COI, Prohibition of G&E during Special Sessions
Compliance Champion Program:
Strategic Objective: Grass Root Support of Business Ethics Implementation in Company Operations
• 24 Compliance Champions in 10 Functions and 11 Assets
• 2024 Performance:
• 41 Compliance Sharing Sessions and 61 Compliance Moments, reaching 1,329 audiences (based on list of attendance)
• New Materials in 2024 : Election Do and Donts, Human Rights and Personal Data Protection
Standardized Anti Bribery Measures:
Strategic Objective: Globally Recognized Standardize Approach in Company Anti-Bribery Initiatives
• Implementation and Certification of ISO 37001 Anti Bribery Management System for MRPR Operation
• Maintenance of 5 certificates for MPI HO, EPE MPE, MEB DEB, MRPR
• Ensure updated FRA and related mitigation actions
Third Party Risks Management:
Strategic Objective: Company Protection from Risks related to Operations with Third Parties
• 3 Vendor Audits and 3 Due Diligent – License and Permit Area
• 2 Vendor Forums – MCG Contractor Forum & MRPR Vendor Day attended by 148 participants
• 4 Quarterly Newsletter to All MPI Vendors
Other Compliance Agenda:
Strategic Objective: In Collaboration with Corporate AIC - Manage Other Compliance Agenda Pose Significant Risks to
Company Operation
• 3 Corporate Compliance Agenda:
• Personal Data Protection Act
• Harassment Free Workplace
• Social Media Monitoring
Government Hosting and Gift & Entertainment Control:
Strategic Objective: Company Protection from related Illegal Gratuities Risks to/from Third Parties – Government Officials,
Business Partners, Vendors, Local Communities
• Reviews on 34 Government Hosting Activities
• Reviews on 29 Gift & Entertainment Providing/Receiving
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Emission
Affected Description Strategy and Initiatives
Stakeholders The emission aspect • Expanding natural gas production and its utilization for electricity
Shareholders, is a contributor to development.
employees, climate change along • Evaluating opportunities to invest in Gas to Power.
communities, with greenhouse gases • Expanding renewable energy based power plant development.
customers and emissions. Therefore, the • Assessing the feasibility of adopting existing renewable technologies.
government Company is committed
for reducing its
emissions in accordance
with government
strategies and initiatives.
Achievement
• All power plants have complied with emission parameters that meet quality standards as per applicable regulations and
policies.
• The CEMS MEB, DEB and MRPR installation has been completed and connected to the Ministry of Environment and
Forestry (KLHK) through SISPEK.
• Selling renewable energy amounting to 20% of the total electricity sold.
• Operating 31% clean energy from the total overall O&M service operations.
• Development of the ecosystem for electric vehicles (EV).
• Implementation of emission control.
• Monitoring greenhouse gas (GHG) emission intensity and supporting climate change mitigation actions.
Environmental Conservation and Biodiversity
Affected Description Strategy and Initiatives
Stakeholders Environmental • Socialization of Environmental Regulations to Medco Power and all
Shareholders, preservation and subsidiaries
employees, biodiversity are one • Management of environmental permits for each new project.
communities, of the Company’s • Environmental monitoring and reporting.
customers, commitments • Tree planting.
government to maintaining a • Increasing awareness of sustainability and climate change through the
balance between implementation of e-learning modules
the environmental
ecosystem and the
sustainability of
operational activities.
Achievement
• Aware of the latest environmental regulations from the Ministry of Environment and Forestry
• Environmental permits for each project carried out
• Reporting monitoring results to environmental agencies
Occupational Health and Safety
Affected Description Strategy and Initiatives
Stakeholders Occupational Health • Strengthening leadership commitment to OHS.
Employees and and Safety (OHS) is a • Improving OHS Culture to all Business Projects in the Company and
business partners manifestation of the subsidiaries.
Company’s responsibility • Strengthening OHS campaigns & promotions: 3T Golden Rules, Life
to ensure the safety and Saving Rules, All Accidents Are Preventable, and Stop Working Authority.
health of every worker
in the operational
environment.
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Achievement
• TRIR 0.43
• HSE Performance Index 98.60%
• Zero Occupational Illness Rate
• Man hours 2024: 6,941,708 hours
• Safe Man Hours YTD 2024: 49,681,810 hours
Local Community
Affected Description Strategy and Initiatives
Stakeholders The people are the - Inspire and train communities in designing and running small
Government and closest community businesses through community empowerment programs.
local communities to the Company, so - Community health improvement programs.
that it experiences - Assist in improving infrastructure around the operational area.
impacts, both positive - Support community education improvement.
and negative, and
the management of
these impacts needs
to be a concern for the
Company.
Achievement
• Empowering women through financial literacy training programs and sewing machine assistance.
• Developing tourism awareness to enhance tourist areas around the operational site.
• Providing electrical installations to support community activities.
• Offering educational programs and facilities such as reading and counting programs, as well as reading gardens.
• Accepting internship students to enhance their competencies before entering the workforce.
• Improving infrastructure such as roads, places of worship, and sports facilities.
• Participating in community activities such as religious events, Independence Day celebrations, and others.
Employment Practices
Affected Description Strategy and Initiatives
Stakeholders Recruitment, placement • Recruiting workers who meet the requirements determined by the
Employees, and development Company.
government, strategies for employees • Creating Policies, Procedures, and Business Process Management to be
business partners are in accordance with implemented in all Subsidiaries.
operational needs and • Providing training to workers in improving and developing
in accordance with the competencies with certification tests.
Company’s policies and • Improving competencies and providing various training to meet the
procedures. criteria for operations and maintenance (O&M).
• Aligning business processes and their supporters to optimize HR at the
Head Office with Subsidiaries.
Achievement
• Recruiting 183 workers at Head Office, subsidiaries, and projects
• Implementing 7,222 hours of training attended by 3,601 participants during 2024
• Implementing alignment of policies and procedures between Head Office and subsidiaries.
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Sustainability
Strategy [OJK A.1] [GRI 2-23] [GRI 2-24]
Medco Power integrates sustainability principles in
every aspect of its operations, ensuring that positive
impacts can be felt by all stakeholders.
Medco Power sustainability strategy includes Leadership from and by Employees, Environmental and Social
Development, and Empowerment of Local Communities. As a company committed to sustainable energy, Medco
Power prioritizes sustainability strategies that are aligned with the Sustainable Development Goals. Through
an innovative and collaborative approach, the company integrates sustainability principles in every aspect of its
operations, ensuring that positive impacts can be felt by all stakeholders.
This strategy includes Leadership from and by Employees, Environmental and Social Development, and
Empowerment of Local Communities. In addition, Medco Power also has a Climate Change Strategy adopted by
the Medco Group as a long-term strategy in dealing with climate change.
In order to ensure the implementation of sustainability strategies and climate change strategies and the
achievement of the targets set, Medco Power determines Key Performance Indicators (KPIs) and Team Performance
Contract (TPCs) that are passed down from top management to operational workers. This Sustainability Policy is
mandatory and applies to all workers and business units. The pillars of sustainability are also enshrined in the
company›s values and principles of GCG. [GRI 2-24]
Pillars and Roadmap Towards Sustainability
Medco Power has three pillars of sustainability adopted from MedcoEnergi that reflect the commitment to maintain
a healthy, safe workplace built upon a culture of mutual respect, protect the environment, and empowerement of
local communities surround our operational area. The Company always adheres to its commitment to these three
pillars of sustainability so that it can provide a positive impact on all stakeholders.
Ijen Geothermal IPP
Located in Blawan Ijen, East Java
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3 PILLARS OF MEDCOENERGI SUSTAINABILITY
Our people are our most valuable assets. They are the keystone of our operations and our future
success. Therefore, we must recruit diverse talent from all backgrounds who possess the right
skill sets and ethical values. We are committed to maintaining a healthy, safe workplace built
upon a culture of mutual respect. To be successful, we continuously develop the capacity of
all of our employees while recognizing and rewarding individual performance and expecting
personal accountability. All levels of our management are expected to set clear directions
Leadership of and towards our expectations.
by Workers
As a responsible corporate citizen, we are committed to complying with all applicable laws
and regulations, and aligning our health, safety, and environmental management with
industry best practices and international standards. We regularly set and monitor our goals
and performance to achieve zero injuries, illnesses, and environmental incidents, and to reduce
waste and emissions. We seek to continuously strengthen our operational excellence through
the enhancement of our safety culture, stakeholder engagement, environmental stewardship,
and the ongoing adoption and development of best practices. We are committed to respecting
human rights in line with the UN Guiding Principles for Business and Human Rights and the
Voluntary Principles on Security and Human Rights. By learning from and applying industry
Environmental and
best practices and relevant international standards, we aim to uphold the highest standards of
Social Development responsibility in every aspect of our operations.
MedcoEnergi endeavors to lead in social practices and responsibility wherever we operate.
We engage regularly, openly, and honestly with stakeholders to share, hear, and understand
each party’s views and concerns. We respond by making community investment decisions in
a strategic, fair, and transparent manner as we seek to empower and support the creation of
self-reliant communities aligned with the UN Sustainable Development Goals.
Local Community
Empowerment
Roadmap to Sustainability
• Updated goals and key • Reduce by 20% the Company’s • Integrate sustainability further
performance indicators Scope 1 and Scope 2 greenhouse into the business to increase value
(KPIs) based on the 2022 gas emissions for oil and gas creation
Materiality Assessment businesses • Reach the top quartile of ESG
• Increased sustainability and • Reduce by 25% the Company’s players in the oil and gas exploration
climate change capabilities methane emissions for oil and and production sector in Southeast
• Established a Human Rights gas businesses - Increase installed Asia
Policy renewable energy capacity by 26% • Maintain or improve a score of A
• Conducted quantitative • Disclose Scope 3 GHG emissions from MSCI, a score of 36.7 from
climate scenario analysis • Commit to a carbon capture and Sustainalytics and a score of B from
storage pilot project CDP
• Update Materiality Assessment for
the next five-year roadmap
2023 2024 2025 2026 2027
• Develop a Just Transition plan • Internal carbon pricing and carbon
• Embed Climate Change Strategies trading: credits and offsets
in company business and financial • Partnership program to promote
plans data transparency and to
• Improve governance, systems and implement best practices across
capability building in human rights the value chain
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Climate
Change Strategy
Medco Power recognizes the importance of strengthening efforts in facing the challenges of climate change
and energy transition. This is reflected in the interim decarbonization targets that we have set, which not only
demonstrate our commitment to climate action but also reflect our determination to provide affordable and
sustainable energy and natural resources for the community and industry.
Therefore, Medco Power has prepared a Climate Change Strategy adopted from the Medco Group, equipped with
various efforts and initiatives to achieve the Net Zero Emission (NZE) target. In achieving the Medco Group NZE
target, Medco Power has the responsibility mainly on the aspect of “Transition to Low Carbon Energy” through the
development of gas power plant development initiatives, including gas infrastructure, and the development and
improvement of New Renewable Energy (NRE) power plants to increase the NRE energy mix in the Medco Group.
Medco Power has a target to achieve a NRE mix of 26% in 2025 and 30% in 2030.
Vision Mission
To be the Energy Company of Choice for our investors, To build long-term value with a portfolio of sustainable
shareholders, partners, employees and the communities energy and natural resource business
where we operate
Climate Aspiration
Achieve Net Zero for Scope 1 and Scope 2 Emissions by 2050 and Net Zero for Scope 3 Emissions by 2060
Managing Physical Climate
Managing Transition Risks
Risks
STRATEGY
Emissions Transition to Emerging Physical
Reduction Low Carbon Climate Risk
Energy Management
Technologies Carbon Removal Growing Gas Growing Climate Climate
FOCUS
& Best Practice & Offset as a Transition Renewables Adaptation Design
AREA Energy Source Portfolio
• Reduce flaring, • Carbon sequestration • Expand natural gas • Expand renewable • Assess quantitative • Continue physical
venting, and fugitive through nature- production portfolio power portfolio financial impact risk and biodiversity
emissions based solutions • Evaluate • Assess feasibility to of climate-related assessments on new
• Reduce energy use • Explore CCU Sand opportunities to adopt emerging physical risks investments
& intensity, adopt CCS opportunities invest in LNG to renewable • • Implement • Integrate climate
KEY renewable energy Power technologies systems for regular risk assessment into
INITIATIVES •
sources
Collaborate along
• Support initiatives
for adoption of green
monitoring of climate
hazards and their
future engineering
designs
Supply and Value solutions impacts
Chains to improve
efficiency and
emissions disclosure
Enablers
Governance Data Management Transparency and Compliance Collaboration and Engagement
• Board commitment and • Improve Emission Data • Continue third party • Engage with regulators
oversight Management System verification emission and investors to monitor
• Integration into business • Improve Scope 3 collection disclosures emerging regulations and
plans and performance and calculation in alignment • Strengthen TCFDdisclosures trends
management with protocols and standards and improve CDPESG scoring • Collaborate with stakeholders
• Staff engagement and to drive the low carbon
capacity building economy
Notes
CCUS: Carbon Capture Utilization & Storage; CCS: Carbon Capture & Storage; TCFD: Task Force on Climate- Related Financial Disclosure; CDP: Carbon Disclosure Project
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New Renewables Energy Installed Capacity
23% Riau Gas-fired 23% 23% 26% 30%
IPP installed on
May 2022
77% 77% 77% 74% 70%
2022 2023 2024 2025 2030
Renewables IPP Capacity
Gas-fired IPP Capacity
Human Rights Policy • Partner Accountability: Requiring business
As a form of commitment to human rights integrated partners to comply with our Code of Conduct
into various aspects of business, Medco Power has a and Supplier Code to ensure legal and ethical
Human Rights Policy adopted from MedcoEnergi. This standards.
policy is based on existing human rights policies and • Grievance Mechanisms: Providing channels for
best practices at MedcoEnergi, and then becomes a addressing concerns, with clear procedures for
stand-alone company policy. investigation and resolution.
• Governance and Oversight: Involving the Board
The Human Rights Policy covers the following key of Commissioners, Board of Directors, Corporate
commitments: Sustainability and Risk Management Division, and
• Respect for Human Rights: Upholding principles functional teams to ensure accountability.
from the Universal Declaration of Human Rights • Due Diligence: Implementing human rights due
(UDHR), International Labour Organisation (ILO) diligence at the asset level and across all business
Declaration, and other global standards. units.
• Guidance Frameworks: Aligning with the UN Guiding
Principles on Business and Human Rights (UNGPs), Support for Sustainable Development
Voluntary Principles on Security and Human Rights Goals
(VPSHR), and IFC Performance Standards. As part of its commitment to creating sustainable
• Legal Compliance: Adhering to the laws of the positive impact, Medco Power actively supports the
countries in which we operate. achievement of the Sustainable Development Goals
• Risk Management: Enforcing policies related to (SDGs). The Company strives to ensure that every step
our Code of Conduct, Supplier Code, Sustainability, taken is in line with these global goals, with a focus
Health, Safety & Environment, Community on environmental sustainability, social empowerment,
Development, and Security. and inclusive economic growth. Through the
• Human Rights Protection: Ensuring fair working integration of sustainability principles into business
conditions, recognising union rights, and and operational strategies, Medco Power strives not
maintaining zero tolerance for child labour, only to advance the company but also to contribute
modern slavery, harassment, and discrimination. to the welfare of communities and environmental
• Vulnerable Groups: Identifying and addressing preservation throughout our operational areas.
risks faced by minorities, women, children, and
migrant workers.
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
SDG Activity Support
SDG 3: • Implement health and safety policies, conduct hazard identification, work risk assessments,
Good Health and Well Being and incident investigations in work areas and operations
• Ensure a safe and comfortable work environment for workers.
• Provide free health check-up facilities to workers periodically.
• Monitor worker health and safety through the HSESS application periodically.
• Provide the latest information on health and policies related to occupational health and
safety through various forums, including the HSESS application and other events.
• Support events that can support worker health.
• Carry out routine activities such as blood donations that are beneficial not only for worker
health but also for the community.
• Hold Cardiovascular Emergency Drill, which is training and simulation for handling medical
emergencies related to heart attacks.
• Hold Health Webinars and health bulletins as health promotions with themes that are
adjusted to top ten diseases, occupational risks, and occupational exposure risks.
• Conduct Industrial Hygiene measurements to identify potential work environment hazards
through observation, site surveys, and workplace exposure risk assessments.
• Conduct health monitoring on employees with moderate to high risk through the Wellness
Program.
• Employee Engagement Survey
• Installing electricity for underprivileged residents in Batam.
• Clean water facilities for SMPN 8 Tualang, Pekanbaru.
SDG 4: • Improve competency development programs as needed.
Quality Education • Provide various training, both internally and with external parties, to workers.
• Provide certification programs for workers.
• Provide learning facilities such as libraries around the operational area that are beneficial to
the surrounding community.
• Provide training to improve the skills and independence of the surrounding community so
that they can utilize the economic potential of their area.
• Reading Parks, supporting educational facilities in remote villages to increase students'
interest in reading at school and in the school environment.
SDG 7: • Develop and produce clean energy as part of the energy transition.
Affordable and Clean • Build and develop renewable energy-based power generation projects such as geothermal,
Energy solar, gas, and hydropower, and other renewable potentials such as wind and green
hydrogen.
• Create an electric car ecosystem starting from the installation of electric vehicle charging
stations to the use of electric cars in operational areas.
Electric vehicle charging station
Located in The Energy Building, Jakarta
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SDG Activity Support
SDG 8: • Increase local labor absorption from areas around the operational area.
Decent Work and • Encourage community empowerment to increase business potential in the surrounding
Economic Growth area.
• Provide welfare programs in accordance with applicable provisions and regulations for
workers.
• Support infrastructure improvements in areas around the operational area to encourage
economic growth.
• Manage operating permits for new projects.
SDG 13: • Implement climate change strategy and energy transition roadmap.
Climate Action • Implement emission reduction strategy and transition to low-carbon energy.
• Conduct physical climate risk management to ensure operational sustainability.
• Disseminate the latest Environmental regulations from Ministry of Environment and
Forestry to all MPI entities and subsidiaries.
• Manage environmental permits for new projects in MPI.
• Conduct regular environmental monitoring and report the results to relevant agencies.
• Implement tree planting program as part of environmental conservation initiative.
• Plant 200 Mangrove trees to support coastal ecosystem restoration.
• Develop innovative and sustainable climate change programs.
• Participate in global climate change programs and conferences to support international
collaboration.
SDG 16: • Ensure compliance with applicable rules and regulations in running the business.
Peace, Justice and • Implement and internalize the Code of Conduct for all employees.
Strong Institutions • Implement and periodically update the Compliance Procedure.
• Implement the Government Officials Hosting Procedure to ensure transparency and
accountability.
• Implement Due Diligence Procedure to support good governance.
ELB Gas-fired IPP
Located in Batam
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Sustainability
Governance
Medco Power aims to prioritize a comprehensive
sustainability strategy in order to establish a solid
governance foundation, which is essential to
business sustainability and can positively impact all
stakeholders.
Good Corporate Governance is the foundation for every accountability, and integrity. This step was taken to
company’s efforts to achieve business sustainability. support the achievement of overall sustainability goals
Based on this, Medco Power is committed to in every aspect of the company. [OJK E.1]
consistently and comprehensively applying GCG
principles to all aspects of its operations. The Board of Directors is also responsible for reviewing
and approving the reported information, including
Through these steps, the Company aims to foster material topics for the Company as evidenced by the
stakeholder trust and contribute to the achievement signature sheet that has been signed by the Board of
of various sustainable development goals. In line Directors on the approval sheet page. [GRI 2-14]
with the Company’s vision of becoming a leading
energy and clean energy provider, Medco Power is Meanwhile, the Board of Commissioners is responsible
strengthening good governance practices to meet the for supervising management related to economic,
challenges of the global energy transition. environmental, social aspect, and governance. The
Board of Commissioners plays a role in ensuring that
Duties and Responsibilities of all sustainable operational policies are implemented
Sustainability Governance consistently and in line with the company’s
Implementing GCG requires a clear and effective sustainability vision. [GRI 2-9]
organizational structure to support appropriate
decision-making and be in line with company values. Medco Power actively follows the sustainability policy
In the Company’s governance structure, the Board of adopted by MedcoEnergi. Within this framework,
Directors is the highest governance body responsible MedcoEnergi has established a Climate Governance
for making decisions and managing the Company’s Structure that leads to a cleaner and more sustainable
impact on the economy, environment, and society energy transition. One of the important components
and matters related to sustainability. [GRI 2-12] [GRI in this structure is the Energy Transition Working
2-13] Group, whose chairman position is currently assumed
by Medco Power’s Chief Commercial & Business
In the context of sustainability, the Company has Development Officer (CCBDO). This shows Medco
appointed a person responsible for implementing Power’s strategic role in supporting MedcoEnergi’s
sustainable operations at the management level, who climate policy while ensuring that the sustainable
ensures that all governance policies and practices, energy transition receives optimal attention at all
including sustainability aspects, are carried out in levels of the company.
accordance with the principles of transparency,
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Organizational Structure of MedcoEnergi Climate Governance
MedcoEnergi
Board of
Commissioners
Sustainability &
Risk Management
Committee (SRMC)
MedcoEnergi
Board of Directors
Climate Change Energy Transition
Woking Group Woking Group
GHG Emissions Physical Risk Low Carbon-Energy
Reduction Management Transition
Sub-Woking Group Sub-Woking Group Sub-Woking Group
Chief Financial Officer Chief Operating Officer Chief Administrative Chief Executive Officer
(CFO) (COO) Officer (CAO) (CEO)
CF, CPIA & IR CHSE, TA, & PDEEPT NAWAKARA
HR, R&S,ENERGI
& SCM SUMPUR
CSRM & A&IC
Medco Power
Board of Directors
Director & Chief
President Director & Director & Chief Director & Chief
Commercial & Business
Chief Executive Officer Operating Officer Financial Officer
Development Officer
BD & Sustainability
Reporting Line
Coordination Line
Medco Power Sustainability Team
Corporate
Committee and Working Groups as part of sustainability and climate change governance
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Sustainability Competence Development
Developing sustainability competencies is one of Medco Power›s main focuses in supporting the achievement of
the company’s sustainability vision. The Company realizes that managing various aspects of sustainability requires
competent human resources. Accordingly, Medco Power is committed to continue increasing the capacity and
expertise of the company›s people through various training and development programs that are relevant to
business sustainability needs.
Throughout 2024, the Company actively participated in various competency developments related to sustainability,
including sustainability in social, economic, and sustainability aspects. The Company also invests in employee
competency development by providing training and certification related to renewable energy technology and
gas-to-power for Engineering, Operation & Maintenance personnel. A mandatory sustainability e-learning program
is implemented for all employees, and the company has appointed Green Ambassadors for Inclusive Climate
Action (GAIA) to enhance sustainability awareness across Medco Power. The competency development related to
sustainability topics that has been implemented throughout 2024 includes:
Sustainability Competency Development in 2024 [OJK E.2] [GRI 2-17]
Topic Organizer Participants
Medco Senior Leadership Development Program- INSEAD • Director (1 person)
Module 1 • VP (2 persons)
Anti Money Laundering Workshop “Safeguarding Our Corporate Medco Energy • Director (1 person)
Business: Essential AML Measures” • Senior Manager (2 persons)
• Manager (4 persons)
Evaluating a Corporate Sustainability Strategy Cornell University VP/Manager/Employee/Staff
(1 person)
Geothermal Energy Project Management Manaaki New Zealand Staff (1 person)
Scholarship
Secure & Sustainable Infrastructure Program US Dept. of State Staff (1 person)
Renewable Energy for Remote Communities Australia Awards Indonesia Staff (1 person)
through DFAT (Department of
Foreign Affairs and Trade)
Integrating Reporting (IR) and International Price Waterhouse Cooper • VP (1 person)
Sustainability Standards Board (ISSB) S1 and S2. (PWC) • Senior Manager (2 persons)
• Manager (1 person)
• Specialist (1 person)
MedcoEnergi Sustainability and Climate Change Corporate Medco Energy VP/Manager/Employee/Staff
Fundamental e-Training Modules (244 persons)
Anti-Bribery Management System
In line with the Company›s commitment to implementing GCG, Medco Power firmly rejects all forms of corrupt
practices. The Company requires all stakeholders, from employees to business partners, to always comply with
applicable laws and regulations. In this way, we ensure that all business activities we carry out uphold the values
of integrity and transparency.
In its implementation, Medco Power applies the principles of GCG in every aspect of the company›s operations,
including efforts to prevent bribery through the implementation of the Anti-Bribery Management System (SMAP)
as stated in the ISO 37001:2016 certification. This system is designed to ensure integrity in all company business
processes, including strict policies, procedures, and monitoring mechanisms.
ISO 37001:2016 certification was successfully obtained at Medco Power, EPE, MPE, BJI, and PPP. Subsequently,
in 2021, the Company obtained ABMS Certificates at MEB – DEB, ELB, and TJBPS O&M. In 2023, the Company
conducted an ISO 37001 SMAP recertification audit for Medco Power, EPE, MPE, BJI, and PPP and achieved
certification on August 11, 2023.
In addition, a second surveillance audit was also carried out by the Certification Body for TJBPS O&M on July 17-18,
2023, MEB – DEB on July 20, 2023, and ELB on July 21, 2023. Then in 2024, the Company has obtained ISO 37001
SMAP certification for MRPR.
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In 2024, the Company has also completed the First Surveillance Audit for the ISO 37001:2016 Anti-Bribery
Management System (ABMS). This audit was carried out by an external certification body with an audit process
covering several main locations, including Medco Power Head Office, EPE, MPE, BJI, and PPP.
MRPR’s Journey in Implementing an Anti-Bribery Management System
MRPR continues to strengthen its commitment Furthermore, in October 2024, MRPR held ISO 37001
to implementing GCG and integrity through the ABMS awareness training for the company’s leadership
implementation of the ISO 37001 ABMS. This process team and organized an ABMS awareness campaign
is carried out in stages with various initiatives to ensure for all employees. This initiative is part of efforts to
compliance with globally recognized anti-bribery build a culture of compliance and transparency in
standards. the work environment. In November 2024, MRPR
underwent a gap analysis by the certification body and
The ABMS implementation journey at MRPR begins in successfully completed the first and second stages of
December 2023, with the holding of a Fraud & Bribery the certification audit.
Risk Assessment Workshop, which aims to identify and
mitigate potential risks of fraud and bribery in company Ultimately, in December 2024, MRPR officially
operations. In September 2024, MRPR conducted a self- obtained ISO 37001 ABMS certification, marking an
assessment to identify gaps in ABMS implementation important achievement in the company’s efforts
and complete an internal audit of this system. This step to build an effective and sustainable anti-bribery
aims to ensure the company’s readiness to implement management system.
a comprehensive anti-bribery policy.
Building an Anti-Bribery Culture:
Medco Power Successfully Completes First Surveillance Audit
As part of its commitment to transparent business The Auditor Team submitted audit results that showed
practices and integrity, Medco Power successfully that the implementation of ISO 37001 at Medco
completed the First Surveillance Audit for the ISO Power had gone very well, with no non-conformity
37001:2016 ABMS. This audit was carried out with conditions found, either major or minor. Apart from
support from PT TuvNord Indonesia as a certification that, the certification body also provides Opportunity
body and lasted for four days, from July 22 to 25, 2024. for Improvement (OFI) and recognizes three best
The audit process covered several main locations, practices (Good Practices) in implementation in the
including Medco Power Head Office, EPE, MPE, BJI, field. The success of this audit ensures that the validity
and PPP. of the ISO 37001 ABMS certification is maintained
while strengthening the anti-bribery culture in all
Medco Power operational lines.
Induction on Business Ethics for New Employees at MPES Sulut 1
As part of its commitment to instilling a culture of of Interest (COI), Anti-Bribery and Corruption Policy
integrity, Medco Power conducted a Business Ethics (ABC Policy), as well as guidelines on Gifts, Entertainment,
Induction for new employees of MSBT at the MPES and Hospitality for Government Officials.
Sulut office in Bolaang Mongondow, North Sulawesi.
The program was held in two sessions: the first batch To assess employees’ understanding of business
on October 8, 2024, with 55 participants, and the ethics, each participant underwent a pre-test at the
second batch on October 9, 2024, with 12 participants. beginning of the session and a post-test at the end.
This approach ensures that the material delivered is
This induction provided employees with in-depth well received and comprehended by all participants.
insights into the Company’s Code of Ethics (New Code Through this program, Medco Power continues its
of Conduct/CoC), Statement of Adherence (SOA), efforts to foster a professional, transparent, and ethical
Fraud Prevention and Corporate Criminal Acts, Conflict work environment, supporting the sustainability of
responsible business practices.
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Risk Management
The company›s business activities in the field of providing clean and renewable energy have varying levels of risk,
including risks related to safety, sustainability of supply, and global market dynamics. By realizing the importance
of risk management to support business sustainability, Medco Power adopts an integrated risk management
approach. This enables companies to identify, evaluate, and manage risks effectively while maintaining operational
sustainability and creating long-term value for stakeholders.
The scope of risk assessment and identification includes operational activities, projects, and/or products, including
procurement of goods and services, from acquisition through decommissioning (including preservation),
abandonment, and disposal. Risk assessments are carried out on occupational health and safety, including
transportation safety (land, air, and water), process safety, and environmental aspects using a methodology that is
appropriate to the nature and magnitude of the risk. In detail, risk mapping related to ESG aspects is described as
follows: [OJK E.3][OJK F.23][GRI 2-25]
Aspect Risk Potential Risk Mitigation
Environment Decline of Air Quality • Carry out routine machine maintenance and utilization of
technology to meet the emission regulations and policies.
• Planting trees.
• Routine monitoring of smokestack emissions and operational car
emissions.
• Intalling Continuous Emission Monitoring System (CEMS)
• Use of environmentally friendly fuel for operational cars.
• Utilization of electric vehicle replacing partially the use of
convetional combustion car.
• Perform routine servicing for operational cars.
Hazardous and toxic Waste • Inventory of hazardous and toxic waste generated from operational
Pollution activities.
• Create a temporary landfill for hazardous and toxic waste in
accordance with applicable regulatory provisions
• Have an SOP for handling hazardous and toxic waste.
• Cooperate with third parties who have permits for the
transportation and processing of hazardous and toxic waste
generated from operational activities.
Increased noise • Carry out routine maintenance on machines that make noise.
• Planting trees.
• Use PPE on employees who work in high-noise areas.
• Carry out routine measurements for noise.
Increase in domestic solid waste • Providing and placing rubbish bins in strategic areas that are easy
generation to reach for workers.
• Segregate waste according to the type of waste by differentiating
the color of the waste bins.
• Collaborate with third parties for further waste processing.
Social Opening of job opportunities Ensure the realization of the Company's commitment to prioritize local
and business opportunities workers and suppliers with a transparent recruitment process.
Increasing the carrying capacity Improving the condition of public infrastructure in operational and
of the local economy construction areas.
Capacity building in carrying Synergize with relevant stakeholders and local communities for
capacity of the local economy carrying capacity building to increase the local community economic
potentials.
Increasing the potential and Synergize with relevant stakeholders and local communities for
enthusiasm of local tourism carrying capacity building to increase the local tourism potentials.
Disruption of cultural heritage, To respect and protect the local wisdom including cultural heritage.
both tangible and intangible
There were complaints from • Providing a grievance mechanism or complaint channel that is
the public regarding the easily accessible to the public.
disturbances caused. • Develop and implement a Community Grievance Redress
Procedure to ensure immediate response and resolution of
complaints.
Disruption to public health, Develop and implement programs related to public health, safety and
safety and security security.
The decline in the livelihoods of Develop and implement a Livelihood Restoration Program (LRP).
affected people
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Aspect Risk Potential Risk Mitigation
Ethic Code The occurrence of corruption Implementing ISO 37001:2016 Anti-Bribery Management System
and bribery within the (SMAP) Certification at the Company's Head Office and Subsidiaries
Company EPE-MPE, BJI-PPP, MEB-DEB, ELB, TJBPS O&M, and MRPR.
Implementing Gift & Entertainment and Government Hosting
procedures as well as monitoring and reviewing their implementation
at the Head Office & Subsidiaries.
Implementation of procedures regarding Anti-Bribery and Corruption.
Carrying out the Compliance Champion program for each Subsidiary
as an extension of compliance at the Head Office.
Carrying out Fraud and Crime Risk Assessment (FRA), which is
reviewed and updated every year.
Potential conflict of interest Employees make a Compliance and Conflict of Interest Declaration
every year.
Carrying out communication and education to increase understanding
of the risks of conflicts of interest.
Create maps and mitigate conflicts of interest in the Company.
Potential Gratification with third Conduct due diligence on vendors (Vendor Due Diligence)
parties
Conduct audits of third parties (Vendor Audit).
Conduct Anti-Bribery and Corruption Audit education and
communication to contractors: Vendor Day, Contractor Forum, and
Vendor Talk.
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Stakeholder Involvement
In running its business, Medco Power realizes that the company›s success cannot be separated from the support
of its stakeholders. Therefore, the Company strives to prioritize active participation from various parties, including
employees, business partners, local communities, government, and other stakeholders.
Stakeholder involvement is carried out through open communication and constructive dialogue to better
understand the needs, expectations, and consequences of company operations. This step not only ensures
harmonious relationships, but it also encourages the development of collaborative solutions to achieve common
goals such as social, economic, and environmental sustainability. [OJK E.4][GRI 2-29]
Methods and Frequency of Stakeholder Engagement
Stakeholders Company Response
Engagement Methods Main Issues
Government • Field visits as needed • Compliance with • Comply with all government
• Sudden Meetings regulations regulations
• Annual reports and other • Socialization of • Prepare reports for local and
reports according to regulations central government
regulations • Pay obligations to the
government
Communities • Socialization, consultation, • Corporate social • Implement social and
and attendance at local and environmental environmental responsibility
activities responsibility programs
• Mapping surveys, • Priority for local • Open up job and business
initial assessments, workforce and business opportunities with a focus on
and community social opportunities local potential
monitoring • Respect for local culture • Participating in efforts to protect
• Involvement in the planning and wisdom and preserve cultural heritage
and implementation of CSR • Management of social sites and respecting local
programs and environmental customs
• Recruitment of local impacts • Fulfilling commitments in the
workforce social and environmental impact
management document
Supplier Communication and meetings · Contract agreement • Reasonable and fair work
according to field visit · Good cooperation contract agreement
requirement · Timely payments • Good cooperation
• Appropriate Payment
• Employment contract
Media Hold media gathering events Maintain relations with • Expect balanced and accurate
the media and convey reporting
important information • Maintain the Company's image
related to the Company's
activities
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Corporate Governance Sustainability Report Attachments Challenges In Implementing Sustainability Aspects [OJK E.5] In 2024, Medco Power facing various challenges in project development and the implementation of sustainability aspects across its projects and operations. One of the key challenges was the risks associated with project development, including potential permit delays, technical challenges, and project integration issues. To address these challenges, The Company implement active communication with stakeholders, and collaborate with regulators to ensure smooth processes and risk mitigation on the project areas. Additionally, the company encountered challenges in maintaining the reliability of existing power plants and optimizing the utilization of power generation capacity for more efficient operations. The involvement of PLN as a dispatcher and the availability of gas supply (for gas-fired power plants) were critical factors in improving utilization rates. As a result, Medco Power continues to focus on these areas to enhance plant performance through more optimal resource utilization. In its transition to clean energy, one of Medco Power’s main challenges lies in the economic feasibility of renewable energy projects. While capital expenditures for technologies such as Solar PV have seen significant reductions, the relatively low electricity selling prices still impact project viability. To attract more investors, the company is focusing on optimizing electricity tariffs while optimizing capital expenditure and operational expenditure to ensure that renewable energy projects remain competitive and sustainable. On the regulatory front, in 2024, Indonesia undertook reforms in domestic content requirements (TKDN) through the Minister of Energy and Mineral Resources (MEMR) Regulation No. 11/2024. With more flexible regulations, renewable energy projects such as solar power can now be developed more rapidly without being hindered by local component availability constraints. This presents an opportunity for Medco Power to accelerate its business growth in the renewable energy sector. From a social perspective, Medco Power faces challenges in securing skilled labor and contractors in certain regions, particularly in eastern Indonesia, including Sumbawa, Timor, and Sulawesi. To overcome this, the company is implementing a blended workforce strategy, combining experienced personnel from existing operations with local talent. This approach not only facilitates knowledge transfer to local workers but also ensures the long-term sustainability of power plant operations. Through this strategy, Medco Power expects that after a few years of operation, local talent can develop into strategic positions within the company. PT Medco Power Indonesia 97 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Sustainable Economic
Performance
Medco Power has been strategically supporting the
energy transition and national economic growth for
more than 20 years, with a primary focus on clean
and renewable energy with reliable operation and
maintenance (O&M) services.
Medco Power is committed to provide positive contributions to all stakeholders in various aspects, including
through sustainable economic value. For over 20 years experience, with a primary focus on clean and renewable
energy supported by reliable O&M services, Medco Power has played a strategic role in supporting national
economic growth and the energy transition. [OJK F.17][GRI 3-3]
Economic Value Generated and Distributed
In 2024, the Company recorded revenue of Rp3.27 trillion, decreased Rp1.05 trillion compared to 2023, and net loss
of Rp108.39 billion. The decreased of the revenue compared to previous year is because the spending on several
projects under development phase.
In order to create sustainable business activities, the Company maintains transparency and accountability in all
operational aspects, including reporting financial assistance received from the government. In 2024, Medco Power
received no direct financial assistance in the form of subsidies, grants, or other tax incentives from the government.
[GRI 201-4]
Economic Value Generated and Distributed (Rp billion) [GRI 201-1]
Description 2024 2023 2022
Economic Value Generated
Operating Income 3,271.30 4,321.57 1,740.07
Other Income 167.41 179.78 227.91
Interest Income 75.31 80.16 35.11
Total 3,514.02 4,581.51 2,003.10
Economic Value Distributed
Operational Costs 2,262.23 3,386.88 739.46
(Sales, General and Administrative Expenses excluding Salaries and
Allowances)
Employee Salaries and Allowances 425.44 380.09 337.29
Dividend Payments 92.83 66.51 107.79
Community Investment 2.56 4.94 2.76
Payment of Income Tax to the Indonesian Government 60.91 149.85 100.45
Total 2,843.97 3,988.27 1,287.75
Economic Value Retained
Economic Value Retained 670.05 593.24 715.35
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Production and Sales Performance
In 2024, Medco Power demonstrated stable operational performance in supporting energy needs in Indonesia
while continuing the values of sustainability in every business activity carried out. As an energy company, we
encourage the creation of effectiveness and innovation to achieve production and sales targets that are consistent
with sustainable business strategies.
Comparison of Production Targets and Performance, Portfolio,
Financing Targets, Revenue, and Profit [OJK F.2]
Descprition Electricity Production (GWh) Income (Rp billion) Operating Profit (Rp billion)
2024 4.108 3,271.30 7.56
2023 4.155 4,321.57 12.57
2022 3.993 1,740.08 67.54
Comparison of Investment Targets and Performance for
Sustainability-Aligned Projects [OJK F.3]
Year Target Realization
2024 US$96 million US$69.5 million
2023 US$110 million US$71 million
2022 US$31 million US$53 million
Pension Fund
Medco Power recognizes that employee welfare is an important aspect of achieving the Company›s goals. One
of the Company›s efforts to achieve this is by providing social and economic security for employees after they
complete their work period through employee pension funds.
Some pension programs designed by Medco Power to meet the financial needs of employees in the future are the
Old Age Security Program (JHT) and the Pension Security Program (JP) from BP Jamsostek, as well as additional
programs from the Company (DPLK Program). The Company requires the JHT and JP Programs for all employees in
the Company, namely by contributing 3.7% for JHT and 2% for JP towards the program contributions. Meanwhile,
the DPLK program is voluntary for employees with the Company›s contribution of 4% towards the program
contributions. [GRI 201-3]
With the existence of additional pension programs outside the severance pay provisions stipulated in the
Company›s Regulations and those stipulated in the Laws and Regulations, employees are expected to be able
to enter retirement with adequate readiness. The policies implemented by the Company reflect the company›s
responsibility towards its employees while supporting a broader sustainability agenda by creating a sense of
security and financial stability for workers.
Climate Change Impact
Climate change is currently a global challenge that affects business strategies and operational activities. As
an energy company, Medco Power understands the responsibility of managing operational impacts on the
environment while mitigating risks arising from climate change.
Based on this, the Company is fully committed to supporting the Government in developing clean and renewable
energy sources that do not have a negative impact on the climate. Medco Power identifies risks and financial
opportunities related to climate change and takes strategic steps to support the transition to low-carbon energy.
PT Medco Power Indonesia 99 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile One form of the Company’s commitment is stated in the energy transition roadmap created by the Company as an effort to address the impacts of climate change with a target of achieving net zero emissions scope 1 and 2 in 2050 and scope 3 in 2060. Information about the energy transition roadmap and climate risk management can be seen in the Climate Change Strategy on page 86. [GRI 201-2] In its implementation, the Company continues to implement various initiatives and efforts to reduce carbon emissions, which not only protect our business but also support the Sustainable Development Goals (SDGs). Some of the efforts made include planting mangrove trees, developing the Solar PV ecosystem, implementing emission control, monitoring the intensity of emissions produced to support climate change mitigation efforts, and implementing EVs as operational vehicles. Medco Power’s Active Role in the Indonesia International Sustainability Forum (IISF) In September 2024, Medco Power, as part of the Through this collaboration, the Indonesian solar panel Indonesian Solar Panel Industry and Renewable manufacturing industry is expected to experience Alliance (INSPIRA), played an active role in fostering accelerated growth, establish a more robust supply close collaboration with the Government of Indonesia chain, and drive investment and innovation in at the Indonesia International Sustainability Forum (ISF). renewable energy. Furthermore, this initiative aligns During this forum, Medco Power participated in strategic with national efforts to achieve sustainable energy discussions focused on strengthening Indonesia’s solar transition targets and expedite the adoption of green panel industry ecosystem and enhancing national energy across the country. capacity in the renewable energy sector. PT Medco Power Indonesia 100 2024 Annual & Sustainability Report
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Supply Chain Management which strengthened mutual commitments with our
In ensuring smooth operations and business suppliers to promote sustainable and human rights
sustainability, Medco Power understands the practices.
importance of efficient and effective supply chain
management. In its implementation, the Company is As part of its commitment to transparency and
committed to managing the supply chain by ensuring ethical business practices, the Company has
that the entire procurement process for goods and implemented various programs to improve supplier
services is conducted in accordance with the principles understanding of the procurement process and
of efficiency, integrity, and minimizing existing social increase their awareness of anti-corruption. Initiatives
and environmental impacts. include organizing contractor forums, distributing
anti-corruption memos, and publishing the SCM
To support the achievement of these goals, Medco e-Newsletter quarterly to all contractors. These efforts
Power has implemented an online Requisition to Pay are in line with the Company›s goal of strengthening
(R2P) system that has been fully implemented in all its procurement management system, which has
operational assets since 2022. In addition, to maintain been adjusted to the ISO 37001:2016 Anti-Bribery
the sustainability and continuity of operational Management System (ABMS) standard, which has
activities in the long term, the Company creates an been implemented comprehensively across all
annual Procurement List, which is reviewed periodically subsidiaries since 2020, as well as the implementation
and its implementation is coordinated through of the Contractor Safety Management System (CSMS).
Integrated Planning Management. Meanwhile, in
inventory management, the Company has improved The Company provides open communication channels
spare management procedures and developed scrap for suppliers to access company policies, thereby
management procedures to optimize inventory and creating transparency of information. In addition,
reduce waste. the Company also ensures that there is a reporting
channel (whistleblowing channel) managed by an
Our suppliers are expected to comply with regulations independent third party to maintain transparency and
while maintaining the highest ethical standards in encourage integrity across all procurement lines.
health, safety and environmental (HSE); respect for
human rights; protection of the company’s assets; The Company has a wide range of procurement needs,
confidentiality (including intellectual property rights); from consumables and housekeeping services to high-
fair competition; and anti-corruption measures. risk technology and services. In every procurement
We strictly prohibit child and forced labor in our process, the Company prioritizes the use of local labor
operations and require the same commitment from and domestic goods and services. In addition, the
our suppliers. Company is also active in developing the business
capabilities of local suppliers (local wisdom) with
These principles are embedded in our selection various initiatives, such as facilitating capacity building
process and contractual agreements, with our across all operational assets. Several development
contract terms and conditions mandating compliance programs carried out include coaching related to the
with Code of Conduct. In July 2024, we integrated Contractor Safety Management System (CSMS), online
our Human Rights Policy and Sustainability Policy, R2P process training, and periodic monitoring and
evaluation of contract performance.
Number of Local Suppliers [GRI 204-1]
2024 2023 2022
Number of Suppliers
Total % Total % Total %
Local Suppliers 312 96 284 95 223 92
Foreign Suppliers 14 4 15 5 19 8
Number of Suppliers 326 100 299 100 242 100
Notes:
• a supplier is defined as a supplier comes from Indonesia
• a supplier is defines as a supplier that has gone through SCM process R2P system has been fully implemented to all operating assets since 2023.
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
MCG and MRPR Contractor Forum 2024:
Strengthening Partnerships for Sustainability
MCG and MRPR are actively reinforcing their During the forum, participants received insights
partnerships with contractors through the and practical guidance on key topics such as the
organisation of the Contractor Forum 2024. This forum Contractor Safety Management System (CSMS), the
serves as a strategic platform for contractors to gain a newly issued HSEQ-MS Policy, the SCM Monitoring
deeper understanding of the company’s operational and Management System, Business Ethics and
standards, particularly in the areas of safety, Compliance, and Social Media Guidelines.
compliance, and sustainable business governance.
The forum aims to introduce new business
MCG hosted the MCG Contractor Forum 2024 on 25 opportunities while fostering stronger partnerships
July 2024, attended by 31 contractors involved in the in the power sector. In addition to discussing the
development of the Blawan-Ijen Geothermal Power potential growth in demand for goods and services,
Plant (PLTP) in East Java. Meanwhile, MRPR held the the event also provided contractors with essential
MRPR Contractor Forum 2024 on 14 November 2024 guidance on meeting the company’s stringent quality
at the Pangeran Hotel, Pekanbaru. standards.
The MRPR Contractor Forum 2024 brought together Through these forums, Medco Power reaffirms its
more than 50 local and national contracting firms commitment to developing a professional and
engaged in the development of the Tenayan PLTGU in sustainable business ecosystem in alignment with
Pekanbaru, Riau. GCG principles.
Medco Power Wins “The Best Energy Supply Chain Company” Award
Medco Power, through its subsidiary ELB, won the ELB, an independent power producer with a 70
Regional Electricity Company With Excellent Service MW Tanjung Uncang - Batam GFPP, supplies all the
award for the Energy Supply Chain Company category electricity generated to PT PLN Batam. Currently, ELB
from Listrik Indonesia Magazine. The event, which was is developing a 39 MW Expansion Combined Cycle
held to commemorate the 15th anniversary of Listrik Power Plant that utilizes the exhaust gas heat from the
Indonesia Magazine, is an appreciation event given to existing PLTG unit to produce more efficient electricity
companies that have contributed to the advancement for the Batam Bintan grid. This step is also a continuous
of electricity and energy in Indonesia. effort implemented by ELB in energy conservation. The
award to ELB was given as an appreciation for ELB’s
consistency in acting as a stabilizer for the Batam
Bintan grid through Island Mode Operation since 2015.
Innovation and Sustainability Project Development
Medco Power is always committed to creating various innovations to support the achievement of sustainability
values, including from the operational side as well as in the development of products and services. As a company
engaged in the energy industry, Medco Power continues to innovate in developing products and services that
support the energy transition, with a focus on reducing carbon emissions and increasing energy efficiency.
In 2024, Medco Power continued to develop clean and renewable energy power plant projects such as geothermal
and solar PV. The Company also prioritizes reducing GHG emissions through energy efficiency, utilizing renewable
energy in operational activities, and conducting Carbon Capture and Storage (CCS) studies. The following are new
development projects currently being carried out: [OJK F.26]
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Power Plant Description
Geothermal • Samosir Geothermal PSPE Permit: Appointed as the holder of the Preliminary Survey and
Exploration (PSPE) permit for a 40 MW geothermal project in Samosir, North Sumatra.
• Drilling Preparation for Bonjol Geothermal: In West Sumatra, we progressed the Bonjol
Geothermal project by advancing land acquisition and site preparations, and began drilling
two exploration wells for a potential 60 MW plant.
• Mechanical Completion for Ijen Geothermal: The 35 MW Ijen Geothermal Phase-1 project in
East Java successfully reached the mechanical completion stage in December 2024, with a
Commercial Operation Date (COD) in February 2025.
Renewable • Conditional License Bulan Solar PV: Successfully obtained a conditional license for a Solar PV
project in Bulan.
• East Bali Solar PV Project: The East Bali Solar PV project, a 25 MWp plant, progressed
successfully and will reach commercial operation in the second quarter of 2025.
• Wind Data Collection in Sumbawa: To support future wind development, Medco Power is
studying potential wind opportunities in West Sumbawa for captive market and PLN.
Operation & Maintenance • Sarulla Geothermal O&M Contract: Extension of the Operation and Maintenance (O&M)
contract for the 330 MW Sarulla Geothermal in North Sumatra until 2030.
• Ijen Geothermal O&M Contract: Signing of a new O&M contract for the 110 MW Ijen
Geothermal Phase-1 in East Java until 2030.
Gas to Power ELB expansion 39 MW Project: Construction phase of an additional energy project in Batam,
Riau Islands, which utilizes exhaust gas as an energy source. The project is targeted to operate
in the third quarter of 2025. The project is considered an energy conservation project, using
exhaust energy to produce additional electricity.
Other Initiatives Developing a fast- charging unit (EVCU) at The Energy Building,
Advancing Geothermal Energy to Support Energy Transition
Medco Power continues to demonstrate its potential of up to 40 MW and is strategically located
commitment to advancing geothermal energy close to the Sumatra electricity grid. This assignment is
as a renewable resource. Medco Power will begin in line with our commitment to providing renewable
exploration activities in Bonjol, Pasaman Regency, energy solutions with attractive returns.
West Sumatra, with an estimated capacity of 60 MW.
Medco Power has also signed an agreement to
Through this assignment, Medco Power conducted manage the operation and maintenance of the Ijen
geological surveys and mapping to identify drilling Geothermal Power Plant (PLTP) Phase 1 in Blawan Ijen,
locations and plan the construction of wellpads. The East Java, which marks the first geothermal source in
next phase of the project will begin in 2025, which the region and supports the clean energy transition.
includes drilling two exploration wells to confirm the The plant, with a total contract capacity of 110 MW,
energy potential at the location. is being developed in stages, starting with an initial
capacity of 35 MW. It is supported by a 28-kilometer
Medco Power also obtained the Samosir Preliminary transmission line to the Banyuwangi substation.
Survey and Geothermal Exploration PSPE (Assignment Mechanical completion is scheduled for December
from the Ministry of Energy and Mineral Resources. 2024, with commercial operations expected to
The PSPE located in North Samosir has a geothermal begin in Q1 2025. The agreement will run for six years
following the plant’s COD.
PT Medco Power Indonesia 103 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile Increase Solar Power Commitment in Indonesia Medco Power continues to increase its commitment to developing new renewable energy (NRE) by increasing the capacity of Solar PV in various regions in Indonesia. Accomplished mechanical completion in December 2024, with expected COD in Q2 2025. Previously, Medco Power had successfully operated a Solar PV in Sumbawa with a capacity of 26 megawatt peak (MWp) in 2022. This step is also a solution to reduce dependence on fossil energy, in line with global efforts to face the challenges of climate change. MPSoS Solar PV Located in Sumbawa Bulan Solar PV: Connecting Green Energy to Singapore Medco Power is developing the strategic Bulan Solar PV project in Batam, Riau Islands, with a capacity of 2.5 GWp. In September 2024, Medco Power obtained a Conditional License from Singapore’s Energy Market Authority to export renewable energy from this project, which is one of Southeast Asia’s largest solar PV projects. It is designed to support Singapore’s 4 GW renewable energy needs. The project aims to export 2 GWp of solar power to Singapore through cross-border connections. The Pacific Medco Solar Energy consortium received conditional approval in September 2023 and a conditional license in September 2024. Currently, offshore and onshore surveys are ongoing, with a target commercial operation date (COD) in 2028. Bulan Solar PV Located in Batam PT Medco Power Indonesia 104 2024 Annual & Sustainability Report
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Innovation and New Technologies [OJK F.26]
As part of its commitment to delivering reliable and sustainable energy, Medco Power continues to explore and
adopt new technologies to enhance efficiency and operational performance. One of the company’s key focus
areas is the development of geothermal drilling technology and reservoir management, enabling more optimal
and sustainable energy production.
In addition, Medco Power invests in digitalization and system integration to optimize operations across all its
assets. The use of data-driven technology plays a crucial role in improving operational efficiency, supporting
smarter energy management, and accelerating decision-making through in-depth analytics.
The implementation of data analytics, predictive maintenance, and automation serves as a core strategy to
maintain operational stability and minimize plant downtime. Through these technological advancements, Medco
Power not only improves efficiency but also strengthens its competitiveness in an increasingly dynamic energy
sector.
Moving forward, Medco Power will continue to drive innovation to accelerate the transition toward clean and
sustainable energy, aligning with the company’s commitment to supporting national decarbonization targets.
Product Safety
Medco Power ensures that all its products and services meet the highest safety and quality standards. As part
of this commitment, the company regularly conducts evaluations and testing to assess the quality of its energy
products.
To ensure compliance with international standards, Medco Power implements various quality management
systems and certifications such as ISO 37001 and ISO 9001. These steps are taken to ensure that every service
we provide meets high safety standards and does not pose a risk to customers. The Company also periodically
monitors the possible impacts of its products and services, especially those related to environmental and social
impacts. [OJK F.27][OJK F.28]
In addition, the Company has prepared clear and transparent procedures to address issues related to products
and services that may affect quality or endanger customer safety. Throughout 2024, there were no major problems
or damage to the distribution network that impacted service quality. [OJK F.29]
Ijen Geothermal IPP
Located in Blawan Ijen, East Java
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Environmental
Performance
With a strong commitment to preserving the
environment, Medco Power actively strives to
optimize efficiency while minimizing the impacts
caused by operational activities in order to support
the achievement of sustainability goals.
Medco Power is committed to running sustainable infrastructure, and, of course, the development of NRE
operations by integrating environmental protection power plants to increase the NRE mix in the Medco
aspects into all its activities. As a company engaged Group.
in the energy sector, Medco Power recognizes the
importance of maintaining ecosystem balance In an effort to achieve the NZE target, Medco Power
while minimizing the environmental impacts of its also carries out various initiatives, including:
operational activities . • Conducting quantitative climate change risk
assessments
Therefore, various proactive initiatives are carried out • Planting mangrove trees to absorb greenhouse
to support climate change mitigation efforts, wise gases (GHG)
management of natural resources, and preservation • Recorded significant progress in the clean energy
of biodiversity. This approach is not only in line with transition, including 20% sales of electricity from
the company›s values but also contributes to the renewable energy, 31% operations of clean energy
achievement of the Sustainable Development Goals in O&M services, and final investment decision-
(SDGs) in Indonesia. making for the Ijen Geothermal Power Plant and
East Bali Geothermal Power Plant projects. The
To strengthen this commitment, Medco Power has Company also started the construction of the ELB
prepared a Climate Change Strategy adopted from Expansion and Ijen Geothermal Phase-1 projects,
MedcoEnergi, equipped with various efforts and and obtained conditional import approval for the
initiatives to achieve the Net Zero Emission (NZE) Bulan Geothermal Power Plant project.
target. This strategy includes reducing greenhouse • Development of electric vehicle (EV) ecosystem.
gas emissions through technology development • Monetization of carbon attributes by registering
and carbon sequestration, developing a clean and and issuing Renewable Energy Certificates
renewable energy portfolio, and conducting climate through I-REC Standard
risk assessments. Medco Power also has a target of • Strengthening capacity and awareness of
achieving an New and Renewable Energy (NRE) mix Sustainability and Climate Change among
of 26% in 2025 and 30% in 2030. The Climate Change head office and asset employees, by engaging
Strategy has been explained in the Sustainability more than 400 employees through certification
Strategy chapter on page 84. initiatives and online learning.
As an energy company, Medco Power has a Throughout 2024, Medco Power also participated
responsibility, especially in the aspect of “Transition in various climate-focused events and conferences.
to Low Carbon Energy”. through the development of At these forums, we showcased our Sustainability
gas power plant development initiatives, including gas Framework and Climate Change Strategy while
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Corporate Governance Sustainability Report Attachments
emphasizing the energy sector›s vital role in addressing As part of the environmental management system, the
climate challenges. These engagements provided us Company carries out environmental management and
with essential feedback and insights on our strategic monitoring programs in operating assets to improve
approach, implementation progress, and overall sustainability performance, comply with regulations,
performance. They also represent a key component of and improve overall impact management. In 2024, the
the Collaboration and Engagement pillar within our Company received the Blue PROPER from the Ministry
Climate Change Strategy. of Environment and Forestry, indicating its regulatory
compliance in environmental management, with
Events we participated in 2024: MEB and MPE participating for the first time.
• UN Framework Convention on Climate Change
(UNFCCC) 29th Conference of the Parties (COP- Use of Environmentally Friendly
29) as part of the Government of Indonesia’s Materials
delegation One of the real manifestations of Medco Power›s
• Indonesia International Sustainability Forum 2024 commitment to supporting sustainable business
• Singapore International Energy Week (SIEW) 2024 practices is the use of environmentally friendly
• Indonesian Petroleum Association (IPA) materials in various operational aspects. The Company
Conference and Exhibition 2024 has reduced the use of single-use plastic and replaced
• Indonesia International Geothermal Conference it with glasses and pitchers in the office environment,
and Exhibition (IIGCE) 2024 and encouraging employees to use personal tumblers.
• Indonesia International Hydrogen Summit 2024 [OJK F.5]
• 2024 Renewable Energy Investment Forum -
Investing in Indonesia’s Renewable Energy Export In addition, Medco Power also encourages efficient
Opportunities use of paper with a policy of printing documents on
both sides (2-sided pages) and reusing used paper
Occupational Health, Safety, and for internal needs. These steps reflect the company›s
Environmental Management System ongoing efforts to reduce the environmental footprint
[GRI 3-3] of daily operational activities.
The Company implements an integrated Occupational
Health, Safety, and Environmental Management Energy Management
System (SMK3LL) throughout its operations to ensure Medco Power consistently strives for energy efficiency
compliance with applicable environmental laws and in all aspects & operational facilities. In addition,
regulations. This system is in line with international the Company continues to increase the portion of
best practices and standards, in particular ISO renewable energy use by developing various green
14001:2015 on Environmental Management Systems energy-based projects, such as solar PV, geothermal
(EMS) and 45001:2018 on Occupational Health and and hydro projects. In 2024, Medco Power succeeded
Safety Management System (OHSMS). in producing 20% of clean energy from the total
electricity produced. This achievement reflects
SMK3LL enables us to identify, assess, control, and the Company›s commitment to supporting the
monitor environmental performance and potential sustainable energy transition while contributing to the
risks across operations. For example, the Company›s target of reducing greenhouse gas emissions. [OJK F.7]
275 MW CCPP asset located in Pekanbaru has followed
the Asian Development Bank (ADB) Safeguards Throughout 2024, the Company has used a total
Guidelines and the International Finance Corporation energy of 14,568,183 GJ and experienced an decrease
(IFC) Performance Standards. These assets were of 3.57%.
developed with financial support from institutions
that have adopted the Equator Principles.
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Energy Use Based on Energy Source [OJK F.6][GRI 302-1][GRI 302-3]
Description Energy Source 2024 2023 2022
Subsidiary Consumption of Non-renewable Fuel (GJ) 24,567,004.41 25,226,144.25 24,309,197.20
Consumption of Renewable Fuel (GJ) 434.41 570.08 322.02
Electricity Consumption (GJ) 6,675.41 6,070.45 6,806.03
Total Energy Sold (GJ) 10,005,930.07 10,132,680.46 9,925,642.40
Total Energy Consumption (GJ) 14,568,183.34 15,107,453.78 14,390,682.85
Total Production (MWh) 2,783,552.35 2,818,280.18 2,761,019.30
Energy Intensity per Production (GJ/MWh) 5.23 5.36 5.21
* Renewable fuel in the Company's report is B35 (Dexlite)
Emission Control Greenhouse Gas Emissions Inventory Book II - Volume
The Company understands its obligations and 1 Year 2012, the GHG Protocol for Corporate Accounting
responsibilities to minimize environmental impacts and Reporting Standards from the World Business
through responsible emission management. Medco Council for Sustainable Development (WBCSD) and
Power has implemented various initiatives to control the World Resources Institute (WRI) 2004, ISO 14064-
greenhouse gas emissions, including the transition 1:2006, and the American Petroleum Institute (API)
to low-carbon energy. In its implementation, the Compendium 2009 .
transition plan to low-carbon energy focuses on two
development areas, namely increasing the portion Related to Scope 3 GHG emissions, the Company
of gas power plants as energy transition efforts and is currently in the development process to identify,
increasing the mix of new and renewable power plant manage, and disclose them. What the Company is
portfolios. doing includes updating the method for calculating
air and GHG emissions, conducting inventories,
In managing emissions, Medco Power always holding capacity-building sessions, and establishing
ensures engine reliability and always carries out relationships with our business partners. The
good maintenance programs for the engines so Company’s goal is to ensure and disclose significant
that combustion efficiency can be maintained and Scope 3 GHG emissions and set reduction targets by
produce emissions that meet quality and regulation 2025. [GRI 305-3]
standards.
Total Emissions Generated (Scope 1 and Scope 2)
[OJK F.11][GRI 305-1][GRI 305-2]
Throughout 2024, the Company produced emissions
(scope 1 + scope 2) of 1,381,336.41 tons CO2eq Year Total Emissions Generated
originating from production activities. Emissions from 2024 1,381,336.41
the Company›s production process throughout 2024
2023 1,416,624.90
are continuously monitored and reported to support
the government›s target of reducing greenhouse gas 2022 1,365,141.13
emissions while ensuring compliance with applicable
regulations. One of the efforts made is by investing in
technology and best practices that help reduce carbon
2.5%
emissions while meeting energy needs. [OJK F.12]
Emissions calculations are conducted using Medco’s
Air and GHG Emissions Calculation Tools. This method By 2024, Medco Power managed
to reduce 2.5% of total scope 1 and
uses references from the Intergovernmental Panel
scope 2 emissions from the previous
on Climate Change (IPCC) Guidelines for National year.
Greenhouse Gas Inventories 2006, Republic of
Indonesia Implementation Guidance of National
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GHG Emission Intensity [OJK F.11][GRI 305-4]
Description Unit 2024 2023 2022
Total GHG Emissions Generated Ton COeq 1,381,336.41 1,416,624.90 1,365,141.13
Total Production MWh 2,783,552.35 2,818,280.18 2,761,019.30
GHG Emission Intensity per MWh of Power Ton CO eq/ MWh 0.50 0.50 0.49
Produced
Air Emission Management
Emissions resulting from electricity generation activities include nitrogen oxides (NOx), sulfur oxides (SOx), and
particulate matter (PM). To manage and monitor these emissions, Medco Power refers to the Environmental
Management and Monitoring Plan Document as the main framework in the air emission management system.
In its implementation, the Company ensures compliance with emission thresholds in accordance with the
Regulation of the Ministry of Environment and Forestry (KLHK) No. 15 of 2019 concerning air emission thresholds
for thermal power plants. Through this management strategy, Medco Power demonstrates its commitment to
maintaining air quality and minimizing the environmental impact of its operations.
Nitrogen Oxides, Sulfur Oxides and Other Air Emissions [GRI 305-7]
Direct GHG emissions Unit 2024 2023 2022
SOx Ton 371.43 172.30 136.11
NOx Ton 6,547.47 7,315.50 4,416.51
PM Ton 634.07 523.01 336.27
Waste Management
To reduce the impact of operations on the environment while supporting the preservation of ecosystems in areas
around the company›s business activities, Medco Power implements an integrated waste management system
that complies with applicable environmental regulations. The Company manages waste using an integrated
approach that includes storage, processing, and disposal using the best technology.
In 2023, the Company also standardized the collection of waste generation data across all of the Company›s
assets. As part of its commitment to transparency and accountability, Medco Power also continues to monitor the
effectiveness of its waste management and periodically reports the results to relevant parties.
Total Waste Generated Based on Management Method [OJK F.13]
Description Unit 2024 2023 2022
Hazardous and toxic waste
Generated Ton 49.1 101.3 45.4
Third-Party Transportation Ton 49.1 94.4 44.1
Non-hazardous and toxic waste
Generated Ton 77.2 74.3 67.3
Local Storage Ton 0 6.87 1.29
Sent to third party Ton 77.2 74.3 67.3
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In its implementation, each Medco Power site has the implementation of water-saving policies and
a hazardous and toxic Waste landfill to store the optimizing processes that require water. For instance,
hazardous and toxic waste produced in accordance in mini-hydro power plant operations, the water that
with the established procedures (SOP). Then the is sprayed to the turbine during energy production
hazardous and toxic waste is periodically transported is used only once and immediately returned to the
and disposed of by a third party that has a Hazardous environment without significant changes in quality.
and Toxic Waste Transportation and Management
permit issued by the Ministry of Environment and The Company›s SMK3LL policy encourages the
Forestry (KLHK). [OJK F.14] management of water utilization in operational
activities. Most of the water used for office operational
The Company itself carries out strict waste activities is taken from various sources, including
management to minimize the potential for significant surface water, groundwater, and reprocessed water,
environmental impacts from its operational activities. while still complying with applicable environmental
Medco Power monitors the potential environmental regulations and permits. Water withdrawal is carried
impacts that may arise, including the risk of spills of out in a measured manner to ensure that it does not
chemicals or other hazardous materials. disrupt the needs of the surrounding community and
the balance of the ecosystem. Water recycling is also
Medco Power has prepared a comprehensive spill carried out to reduce the consumption of processed
management and prevention procedure to ensure water through re-injection technology and rainwater
that all waste, including hazardous and toxic waste, is collection in the Company›s operational assets.
managed in accordance with applicable regulations,
both through internal handling and collaboration After use, wastewater is treated through a wastewater
with certified third parties. [GRI 306-2] treatment system that meets environmental quality
standards before being released back into the
Throughout 2024, Medco Power noted that there environment. This process aims to prevent pollution
were no spill incidents that had a significant impact and maintain water quality around the operational
on the environment at all of its operational locations. area. Medco Power also actively monitors the impact
This reflects the successful implementation of waste of water withdrawal, consumption, and disposal on
management and environmental risk prevention the environment and surrounding communities.
policies. [OJK F.15] [GRI 303-1]
Water Management Throughout 2024, the Company recorded water usage
Medco Power understands that water is an important of 255,105 megalitres, reflecting an increase from the
resource that must be managed wisely to maintain previous year. This rise in water withdrawal aligns with
ecosystem balance and support the achievement of an increase in production for our Power operations,
sustainability goals. In its operational activities, the indicating a trend towards higher operational output.
Company prioritizes efficient use of water through Total Water Intake, Disposal, and Consumption.
Total Water Intake, Disposal, and Consumption [OJK F.8][GRI 303-3]
Description 2024 2023 2022
Water Intake Ground water (ML) 2.25 3.15 3.68
(Freshwater) Based on
Source Surface water (ML) 255,105.38 195,640.54 259,804.88
Water from third parties (ML) 94.2 1.20 1.15
a. Total warer intake (ML) 255,105.38 195,644.89 259,809.70
Water Disposal Ground water (ML) 4.14 3.99 4.82
(Freshwater) Based on
Disposal Destination Surface water (ML) 253,948.81 194,645.86 258,501.08
Water distribution to third parties (ML) 0 0 0
b. Total water discharged (ML) 253,952.95 194,649.85 258,805.90
Water Consumption Total water consumed (ML) (a-b) 1,152.43 995,04 1,003.80
(total water Intake – total water
discharged)
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Biodiversity Preservation
Some of the Company›s operational areas are located in a forest. Therefore, the Company is committed to
preserving the environment and biodiversity through various efforts. The Company has a Forest Area Borrow-
Use Permit (IPPKH) for MRPR and Ijen assets with a total area of 1,306.31 Ha hectares. [OJK F.9][GRI 304-1]
[GRI 304-2]
One form of contribution to biodiversity conservation was through planting 12,823 tree seedlings in the MRPR
area of 3.31 hectares through cooperation with executive partners. Meanwhile, for the Ijen project, conservation
activities were carried out in an area of 1,303 hectares. [OJK F.10]
Proactive in Biodiversity Protection
Medco Power, through MCG, played an active role as a No. P.27/Menlhk/Setjen/Kum.1/7/2018 or
speaker in a workshop entitled “Biodiversity Protection its latest regulation. MCG is consistent
and Design Elements in the Implementation of in complying with the Borrow-to-Use
Sustainable Infrastructure Development Projects in Forest Area (PPKH) license and ensuring
Indonesia.”. On that occasion, Muhammad Alhan, as all project activities are within the boundaries
HSE Manager of MCG, shared in-depth insights and of the designated area. MCG also implements
effective strategies in managing Environmental Social commitments in maintaining the governance
Safeguards. and sustainability of production forest areas by
conducting stand inventories, making plans for
In its presentation, MCG as a stakeholder of SMI who reclamation, revegetation and reforestation of
has the trust of funding in the development of the forest areas, conducting watershed rehabilitation
Ijen unit-1 geothermal project which is clean and planting, and maintaining PPKH area boundaries.
renewable energy, is highly committed to running • Compliance and fulfillment of MCGs in carrying
geothermal projects in accordance with the rules of out PPKH monitoring reports for semester 1,
Environmental and Social Safeguards (ESS) which semester 2 2024 and in previous years’ periods in a
is the main sustainability program of SMI. ESS is an timely manner.
environmental and social protection guideline that • MCG engages independent consultants in
also refers to the World Bank, IFC and ADB standards. the process of implementing environmental
governance and protecting forest areas.
On the occasion of the ESS Award 2024, in addition • MCG works together with Perhutani Banyuwangi
to MCG getting the award, MCG was also given the and Bondowoso in implementing the governance
opportunity to explain the ESS implementation of forest areas used for geothermal projects,
programs in the project phase, namely; conducting socialization and training for
• Compliance with the legislation of the Minister surrounding communities, facilitating access to
of Environment and Forestry Regulation No.04 plantation roads for surrounding communities.
of 2021, MCG is consistent in carrying out the • Implementing the principles of good community
2024 AMDAL RKL-RPL monitoring activities for social governance by involving the surrounding
semester 1st and semester 2nd in a timely manner community working in the project area with
and maintaining good environmental governance. additional skills and training provided by MCG,
• Compliance with Forest Area Borrowing Permit community assistance programs in the availability
Minister of Environment Regulation No. P.7/ of clean water with MCG’s contribution in the
Menlhk/Setjen/Kum.1/2/2019 Amendment provision of water pipes for the community, free
to Minister of Environment Regulation health counseling and blood donors.
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile Green Initiative: Medco Power Preserves Batam Coast Medco Power demonstrates its commitment to environmental sustainability through a biodiversity conservation program. In the initiative carried out by MEB and ELB, the Company planted 200 mangrove trees in the coastal area of Batam in 2024. This step was taken as a form of the Company’s active contribution to maintaining the coastal ecosystem, which plays an important role in preventing abrasion, supporting climate change mitigation, and improving the quality of the environment in the area. This program also reflects Medco Power’s efforts in supporting the sustainable development agenda in Indonesia, especially in the environmental aspect. Mangrove planting not only functions as an ecosystem conservation step but is also expected to provide long-term benefits for the surrounding community through better coastal protection and improved air quality. As a company that focuses on renewable energy, Medco Power is committed to continuing to contribute to creating a positive impact on the environment in all areas around its operational areas. Mangrove planting program Located in Batam Environmental Complaints As a form of managing the impact of its operational activities on the environment, the Company provides a means for the public to provide input or complaints related to the environment through a public complaint system. The public can submit their complaints to: corsec.mpi@medcoenergi.com Until the end of 2024, there were 20 complaints received by the Company and all complaints have been resolved prior to December 31, 2024. One of the concerns was a complaint regarding an alleged decline in water quality in Kalianyar Village, which is approximately 4 kilometers from the MCG project site. In response, MCG immediately conducted water quality testing at the Bondowoso Regional Technical Implementation Unit (RTIU), a local government laboratory recommended by the community and local government. The test results showed that all water quality parameters were within the required limits, so the water remained suitable for consumption. [OJK F.16] Environmental Management Costs In 2024, the Company transparently realized environmental costs reaching more than Rp3.5 billion. This value consists of the costs of environmental monitoring, training costs, environmental management and environmental program. [OJK F.4] PT Medco Power Indonesia 112 2024 Annual & Sustainability Report
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Human Resources
Management Performance
Medco Power views employment practices as an
important aspect to achieve optimal performance of
the Company, allowing it to be able to continue the
values o
f sustainability.
The Company ensures that the employment practices Understanding this, Medco Power has adopted
implemented are inclusive, fair, and sustainable. strategies and policies for human resource
Human Resources (HR) are the main asset in management in alignment with the Company›s
supporting the sustainability and growth of Medco Regulations. The following key HR management
Power›s business. policies have been implemented:
1. Providing equal opportunities to every employee
We believe that a competent, inclusive, and highly without discrimination to develop competence
competitive workforce is the key to achieving and career.
the Company›s vision as a leader in providing 2. Setting wages above the minimum wage set by
environmentally friendly energy. the Government as well as other benefits.
3. Provide leave rights to employees.
Therefore, Medco Power continues to be committed 4. Provide and pay Religious Holiday Allowances no
to creating a safe, productive work environment and later than 14 days before the Religious Holiday.
supporting the development of employee capacity in 5. Not employing minors and forced labour outside
a sustainable manner. the employment contract.
Human Resource Strategy and Policy Human Resource Demographics [OJK C.3]
HR play a crucial role and are an integral part of the [GRI 2-7][GRI 2-8]
collective effort to realize the company’s vision and Medco Power continuously strives to create a
mission. Medco Power views HR as a strategic partner comfortable and healthy work environment by
that contributes not only to business operations but upholding employee rights and equality, thereby
also to the achievement of shared objectives. By enhancing employee retention. Through efforts
implementing best practices, HR management at undertaken throughout 2024, the Company has
Medco Power is designed to equip employees with developed a competent and high-quality workforce,
the necessary skills to navigate business challenges contributing positively to overall performance.
and meet the demands of a dynamic and competitive
industry. As of December 31, 2024, the Company employs
1,013 personnel. Details regarding the composition of
employees based on job level, employment status,
educational background, age group, and gender are
presented in the following tables:
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Employee Composition by Position Level
2024 2023 2022
Position Level
Total % Total % Total %
Director 7 0.69% 4 (0.40%) 4 0.49%
Senior Executive 32 3.16% 32 (3.55%) 37 4.56%
Manager 85 8.39% 77 (8.55%) 188 23.15%
Supervisor 188 18.56% 147 (16.32%) - -
Officer 708 69.89% 645 (71.59%) 583 71.80%
Total 1,020 905 812
Notes: Total employees include Director level
Employee Composition by Employment Status Level
2024 2023 2022
Employment Status
Total % Total % Total %
Permanent 758 74.83% 744 (82.57%) 699 87.48%
Contract 255 25.17% 157 (17.43%) 113 12.52%
Total 1,013 901 812
Notes: Total employees excluding Directors
Employee Composition by Education Level
2024 2023 2022
Education Level
Total % Total % Total %
Bachelor Degree and Above 634 62.59% 544 (60.38%) 439 54.06%
Diploma 164 16.19% 144 (15.98%) 142 17.49%
High School and Equivalent 215 21.22% 213 (23.64%) 231 28.45%
Total 1,013 901 812
Notes: Total employees excluding Directors
Employee Composition by Age
2024 2023 2022
Age
Total % Total % Total %
>50 years old 106 10.46% 91 (10.10%) 89 19.96%
40—49 years old 316 31.19% 291 (32.30%) 280 34.48%
30—39 years old 342 33.76% 299 (33.19%) 273 33.62%
<30 years old 249 24.58% 220 (24.42%) 89 20,94%
Total 1,013 901 731
Notes: Total employees excluding Directors
Employee Composition by Gender
2024 2023 2022
Gender
Total % Total % Total %
Male 887 87.56% 790 (87.68%) 708 87.19%
Female 126 12.44% 111 (12.32%) 104 12.81%
Total 1,013 901 812
Notes: Total employees excluding Directors
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Labor Practices promotion, and performance assessment processes.
As one of the leading energy companies in Indonesia, Every individual is given the same opportunity to gain
Medco Power understands that achieving business access to training, career development, and awards
performance cannot be separated from the role of for their contributions regardless of gender, age,
competent, productive, and superior human resources. background, or other conditions. Medco Power ensures
The Company views employment practices as an that employee rights are respected and protected in
important aspect to achieve optimal performance of order to create a fair and sustainable work culture and
the Company, allowing it to be able to continue the environment. [OJK F.18]
values of sustainability.
In addition, as a form of the Company›s efforts to
Based on this, Medco Power always ensures that the build harmonious industrial relations with employees,
Company has fulfilled all employment provisions in Medco Power has prepared a Joint Labor Agreement
accordance with the laws and regulations in force in (PKB) that also ensures compliance with applicable
Indonesia, starting from the recruitment process and labor regulations. [GRI 2-30]
employee management to remuneration referring
to Law No. 13 of 2003. This is done to ensure that the Welfare and Remuneration
employment practices implemented are inclusive, fair, In terms of remuneration, Medco Power ensures that
and sustainable. all obligations given by the company are fulfilled
adequately and appropriately. The remuneration
Equality and Equal Opportunity system implemented by Medco Power is designed
In managing Human Resources (HR) that is in line with transparently and fairly, where all employees receive
sustainability values, Medco Power ensures that every salaries that meet or exceed the minimum wage
individual has the same right to develop and contribute, applicable in their operational areas. The remuneration
thus ensuring that there is no discrimination in every provided by the Company includes salary/honorarium,
aspect of employment that is carried out. By creating various allowances, bonuses, interest-free loan facilities,
a fair system, Medco Power strives to build a fair and meal facilities for field workers, health and medical
productive work environment. facilities for workers and their families, maternity
and maternity leave benefits for female workers,
In its implementation, the Company carries out BPJS Employment, and the Pension Fund program.
transparent and competency-based recruitment, [OJK F.20]
Allowances Provided to Permanent and Contract Workers [GRI 401-2]
Allowances Permanent Employee Contract Employee
Life Insurance Yes Yes
Health Insurance Yes Yes
Maternity Leave Yes Yes
Healthcare Yes Yes
Preparation for Retirement No No
Religious Holiday Allowance Yes Yes
Pension Yes No
Work Accident Insurance Yes Yes
Death Insurance Yes Yes
Medco Power also meets the Minimum Wage set by each local government. The amount of wages received by
employees at the lowest level of the Company is on average 39% above the Minimum Wage set by the local
government.
Comparison of Lowest Level Employee Wages with Minimum Wages
Operational Location Percentage/Comparison to UMP
Jakarta 142%
West Java 122%
South Sumatra 115%
Riau Islands 111%
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Commitment to Not Employing Children work-life balance so that they can make the best
and Forced Labor contribution to the Company’s efforts to achieve
Medco Power is committed to ensuring that all sustainability.
employment practices implemented are in accordance
with human rights principles and applicable One of the initiatives undertaken is the Minisoccer
employment regulations. One concrete manifestation competition, held at least four times a year, providing
of the Company’s commitment is through the employees with a platform for exercise and fostering
implementation of a policy not to employ children camaraderie. In addition, Medco Power has established
under working age and to firmly confront various a sports centre to support a healthy and active lifestyle
forms of forced labor. Through this commitment, for its employees.
Medco Power strives to maintain integrity and create a
work environment that is in line with the principles of As part of the Medco Group, Medco Power also
sustainability. [OJK F.19] participates in the 43 Days Medco Active Movement,
an annual health programme designed to enhance
Work-Life Balance fitness and promote a healthy lifestyle among
Medco Power believes that work-life balance is key all Medco Group employees. Through a range of
to realizing employee welfare and determining engaging physical activities, this programme aims to
the long-term success of the Company. Based on cultivate a healthier, more productive, and energetic
this, the Company is committed to creating a work work environment. [OJK F.21]
environment that supports employees in achieving
Medco Active Movement
Located in Pekanbaru
TJBPS Receives ASEAN Red Ribbon for Outstanding Workplace Award
Medco Power, through its subsidiary PT TJB Power The ASEAN OSHNET Award is a prestigious ASEAN-level
Services (TJBPS), has been honored with the ASEAN recognition given to companies from ASEAN member
Red Ribbon for Outstanding Workplace (ARROW) states that implement exemplary Occupational Safety
Award 2024. This recognition follows TJBPS’s and Health (OSH) practices. The selection criteria are
presentation at the 5th ASEAN Red Ribbon for outlined in the Director General of Labor Inspection
Outstanding Workplace (ARROW) Awards, held in and OSH Decree No. KEP. 215/BINWASK3/XI/2017,
conjunction with the 10th ASEAN Business Coalition which provides guidelines for evaluating recipients
on HIV and AIDS (ASEAN BCA), which addressed of OSH awards within the ASEAN Forum (ASEAN
workplace HIV-AIDS prevention and management OSHNET Award).
efforts.
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Employee Recruitment and Career Employee Turnover [GRI 401-1]
Development
New Employees Based On Gender
Medco Power understands that the recruitment
process is a strategic step to ensure business Gender 2024 2023 2022
sustainability by fulfilling the need for competent Female 16 15 9
and integrated workers. This new entry of talent will
Male 167 120 81
ensure a dynamic and innovative workforce to lead
the company into the future. Total 183 135 90
Therefore, in its implementation, the recruitment
process is carried out transparently, professionally, New Employees Based on Age Group
and based on the principle of equality. Medco Power Age Group 2024 2023 2022
ensures that the recruitment process is carried out by
<30 years old 100 79 58
prioritizing inclusive values, without discrimination
against gender, age, or other backgrounds. 30-50 years old 78 52 27
>50 years old 5 4 5
In its recruitment process, Medco Power is committed Total 183 135 90
to promoting diversity, inclusion, and equal
opportunities for all candidates. The recruitment
process is conducted in alignment with the Company’s
New Employees Based On Region
strategies and policies, ensuring that each prospective
Region 2024 2023 2022
employee undergoes a comprehensive evaluation,
covering both administrative and competency Jakarta 16 18 24
assessments. Outside of Jakarta 167 117 66
Total 183 135 90
The administrative evaluation includes background
checks, educational history, employment records,
and financial standing. Meanwhile, competency
Employee Turnover Based on Gender
assessments involve interviews at various levels as
needed, ensuring the direct involvement of immediate Gender 2024 2023 2022
supervisors in the candidate selection process. Female 9 0 10
Male 67 39 93
In terms of career development, Medco Power
is dedicated to fostering a work environment Total 76 39 103
that supports individual growth and professional
advancement. Through various training programs,
certifications, and mentoring initiatives, the company Employee Turnover Based On Age Group
ensures that employees acquire relevant skills and Age Group 2024 2023 2022
are well-prepared to navigate the challenges of
<30 years old 36 79 58
the renewable energy industry. Medco Power also
provides top talent with opportunities for career 30-50 years old 33 52 27
progression through job rotations, promotions, and >50 years old 7 4 5
strategic projects designed to enrich their professional
Total 76 135 90
experience.
Furthermore, Medco Power continuously cultivates
Employees Turnover Based on Region
a culture of lifelong learning, enabling individuals
to access the necessary resources and training to Region 2024 2023 2022
enhance their competencies. Through this approach, Jakarta 11 8 12
the company not only develops a highly skilled Outside of Jakarta 65 31 91
workforce but also ensures business sustainability by
Total 76 39 103
nurturing adaptive and innovative leadership.
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Training and Competency Development sustainability. In line with this initiative, the company
In developing human resource (HR) competencies, has also initiated the formation of the Talent
Medco Power leverages all available resources to Development Committee (TDC), which will play a
translate business challenges and dynamics into crucial role in developing and managing top technical
education and training materials, aiming to cultivate talent.
highly skilled and competent personnel. The
company ensures continuous skill and competency As part of its leadership regeneration strategy, Medco
enhancement through training and education Power encourages young leaders to take on key
programs conducted both internally and by external operational roles, such as Plant Manager, Operations
providers. Manager, and Maintenance Manager. This effort
is reinforced through various initiatives, including
Medco Power places training and competency organizational integration in Batam and leadership
development as one of its top priorities in HR regeneration programs, aimed at ensuring leadership
management. For Medco Power, sustainable business continuity in the face of future industry challenges.
success can only be achieved through optimal
employee performance. Therefore, the company Medco Power also invests in workforce development
consistently provides structured and relevant training by providing training and certification on renewable
programs to support the professional development of technologies and gas-to-power for technical,
employees at all levels. operations, and maintenance personnel, including
introductory training for employees managing new
As part of its efforts to strengthen corporate culture, assets. The company has also implemented mandatory
Medco Power promotes Medco Leadership Behaviour e-learning programs on sustainability, along with the
(MLB) through various internal communication appointment of GAIA, whose mission is to enhance
channels. One of its initiatives includes a podcast sustainability awareness among all Medco Power
hosted by senior leaders, offering employees valuable employees.
leadership insights and practical experiences.
Additionally, printed materials on MLB are distributed Additionally, Medco Power has developed a technical
across the headquarters and subsidiaries to ensure competency directory for geothermal operators and
widespread dissemination of Medco Power’s technicians, adopted national competency standards
leadership values. for solar PV operations and maintenance, participated
in workshops and conferences, awarded scholarships
To support leadership development, the company to employees in solar PV and geothermal fields, and
has introduced the Medco LEAD Program, specifically encouraged participation in Project Management
designed for supervisors and managers. This program Professional (PMP) certification programs. Moreover,
focuses on enhancing personal leadership, team the company has introduced the Continuous
management, and commercial acumen, ensuring Improvement (CI) Initiative at its Riau and Batam
that Medco Power’s leaders can perform their roles assets to accelerate the enhancement of operational
more effectively. excellence practices.
Furthermore, Medco Power proactively identifies Throughout 2024, Medco Power provided 7,221.5 hours
key personnel for strategic roles in Operations, O&M of training to its employees.
Services, and Finance to ensure long-term leadership
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Employee Training and Competency Development [OJK F.22][GRI 404-1]
2024 2023 2022
Description
Male Female Male Female Male Female
Total Training Hours 6,087.5 1,134.0 6,677 1,759 14,364 1,224
Total 7,221 8,435 15,587
Types and Objectives of Training [GRI 404-2]
Training Type Training Objective Total Participants Total Training Hour
Technical Training Supporting company operations in the technical field 228 561
(Engineering or Supporting)
Supporting Training Improve and support employee capabilities in the fields of 1,871 1,781.5
General Administration, Human Capital, IT & Information
System, Business Development, and Finance and
Accounting.
Mandatory As part of compliance to meet Government Regulations 446 3,197
Certification related to competency standards that must be met by
every worker in a work activity within the Company's
operations.
Certification To fulfill the requirements of work standards/worker 27 694
professions as part of the recognition of competencies
possessed by workers in addition to the Mandatory
Certification that has been held.
HSE Training To increase workers' awareness and understanding of 808 257
Occupational Health and Safety practices in the workplace.
Leadership/Soft Skills To improve the interpersonal and intrapersonal abilities 221 731
and skills of each worker
Training Participants
Description Unit 2024 2023 2022
Number of Training Participants People 3,601 3,642 5,467
Employee Certification
2024 2023 2022
Description
Male Female Male Female Male Female
Electrical Engineering Staff Competency 92 0 183 3 75 0
Certification
OHS and Environment Certification 173 6 125 9 309 26
Operational Supervisor 11 0 7 0 10 0
Rp 6.25 billion
Total realization of the Company’s career and competency development costs in 2024.
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GAIA Champions Program:
MedcoEnergi Prepares Employees to Become Sustainability Leaders
Medco Power launched the Green Ambassadors for GAIA Champions are tasked with raising awareness
Inclusive Climate Action (GAIA) Champions program and becoming agents of change in each division,
to empower 40 selected employees as sustainability facilitating cross-functional collaboration to realize
leaders. This program supports the company's a more sustainable future. This program includes a
commitment to achieving Net Zero Greenhouse Gas series of trainings that equip GAIA Champions with
(GHG) Emissions by 2050 for Scope 1 and 2 and Scope technical and communication skills, ranging from GHG
3 by 2060. emission management and climate risk management
to carbon pricing and sustainable finance.
Future Human Resource Management Strategy and Policy
Medco Power consistently strives to build a professional, adaptive, and highly competitive team through
sustainable human resource (HR) management and development strategies. Moving forward, the company
will further strengthen its talent development programs with a competency- and technology-based approach.
Investments in training and certification will be continuously enhanced to ensure employees acquire skills aligned
with industry trends, particularly in the transition toward clean and sustainable energy.
Additionally, Medco Power will continue to foster an inclusive and performance-driven work culture. The company
is committed to creating a work environment that encourages innovation, collaboration, and work-life balance
for all employees. Retention programs and leadership development will also remain a key focus to ensure
organizational sustainability.
Through this strategy, Medco Power will continue to develop a highly skilled workforce capable of meeting industry
challenges while building a team that contributes significantly to the company’s future growth.
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Occupational Health
and Safety
Medco Power views employment practices as
an essential aspect in achieving the optimal
performance of the Company so as to be able to
pass on the values of sustainability. Therefore, the
Company ensures that its employment practices are
inclusive, fair, and sustainable.
As one of the business actors engaged in the energy continuity. Effective OHS implementation serves
industry, Medco Power realizes that the operational as a testament to the company’s responsibility in
activities carried out are full of challenges and high ensuring the safety of every individual involved. This
risks. Departing from this, Medco Power is committed commitment is reflected in the achievement of Zero
to managing Occupational Health and Safety (OHS) Lost Time Incident (LTI) across all operational assets.
effectively and based on applicable regulations. Additionally, Medco Power has attained Safety Culture
Maturity Level-3 (Independent), signifying a well-
For the Company, Occupational Health and established and deeply embedded safety culture
Safety (OHS) management is a critical aspect that across all organizational levels. [OJK F.21]
determines business achievement and sustainability.
By implementing OHS principles in line with best Throughout 2024, the Company has successfully
practices, Medco Power fosters a safe working recorded several achievements in the field of OHS,
environment while contributing to operational including:
Zero 0.43 98.60%
Lost Time Incident (LTI) TRIR HSE Performance Index
Zero 6,941,708 hours 49,681,810 hours
Occupational Illness Rate Man hours 2024 Safe Man Hours YTD 2024
Zero Platinum and Gold
Accident Award 2024 from the Level 3 (Independent) HIV-AIDS Prevention and
Ministry of Manpower of the Safety Culture Maturity Control Program Platinum and
Republic of Indonesia Gold Category
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Maintaining Operational Excellence
In 2024, Medco Power integrated the Operational Excellence (OE) Framework into its business strategy to increase
competitiveness by optimizing safety, reliability, efficiency, and profitability aspects across all assets, including
gas-to-power power plants, renewable energy technologies (solar, wind, and geothermal), and Operations and
Maintenance (O&M) services. Medco Power also conducted an Operational Excellence assessment for MEB, DEB,
ELB and TJBPS O&M, with a focus on key aspects such as Health, Safety, and Environment (HSE), cost management,
maintenance reliability, and operational efficiency. The assessment results served as the basis for the preparation
of a strategic plan to improve safety, optimize costs, and increase asset reliability.
In addition, the Company also aligned Operability Assurance (OA) with OE standards on key projects such as
Ijen Geothermal Independent Power Producer (IPP), Bali East IPP, and ELB expansion development, to ensure
operational readiness and smooth transition. Furthermore, Medco Power has prioritized two main areas to
improve its operational performance, especially in the safety aspect:
Process Safety Critical System Reliability
Medco Power implemented Safety Critical Element Medco Power conducted a Single Point of Failure
Abnormal Risk Assessment (SCEARA) to strengthen (SPOF) analysis to identify and mitigate risks to
risk management and operational discipline. This critical components, enhancing system reliability
included reinforcing management of change and and minimising operational disruptions.
standardising safety processes across all assets. In
parallel, Medco Power is committed to developing
a strong process safety culture through continuous
awareness campaigns that emphasise the importance
of reinforcing process safety principles at every level of
the organisation.
Asset Integrity The Company also continues to strengthen risk
In 2024, we conducted an asset integrity assessment identification and mitigation and conducts safety
to ensure the continuity of reliable and safe operations. campaigns for Slip Trip and Fall (STF) and Pinch Point
MRPR made an In-Line Inspection (ILI), Risk-Based risks, focusing on daily routine work, namely on the
Inspection (RBI), and Quantitative Risk Assessment plan for 3 (three) new projects that started at the end
(QRA) on the Riau IPP network of 38.5-km, 12-inch of 2023 and were completed in 2024, strengthening
onshore gas distribution pipeline. leadership in OHS that is felt and seen by all Medco
Power personnel, to cultivating the courage to speak
OHS Management System [GRI 403-1] up and obey work authorities.
Medco Power implements an Occupational Health
and Safety (OHS) Management System designed to The Company implements an OHS Management
identify, prevent, and manage risks associated with System (OHSMS) that must be adhered to by all Workers.
various company operational activities, ensuring The implementation of the OHS Management System
the safety of employees, business partners, and the also ensures full protection for all of employees. Until
surrounding community. Through these steps, Medco the end of 2024, the Company through its Subsidiaries,
Power strives to create a safe and healthy working namely MPE, MEB, EPE, ELB, has received the OHSMS
environment in all its operational locations. certificate with a “Satisfactory” predicate. [GRI 403-8]
In its implementation, the OHS Management System In order to optimally support the implementation
implemented by Medco Power is based on Law No. 1 of the OHS Management System, the Company also
of 1970 concerning Occupational Safety, through the carries out ISO 14001:2015 Environmental Management
stipulation of the Board of Directors› Decree dated System, ISO 9001:2015 Quality Management System,
August 7, 2018, which has been updated on September and ISO 45001:2018 Occupational Health and Safety
25, 2020 concerning the Policy on Quality, Safety, Management System certifications.
Occupational Health, and the Environment. The policy
is implemented in all operations and projects, both at
the Company level and its subsidiaries.
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Hazard Identification, Work Risk Assessment, and Incident Investigation [GRI 403-2]
As part of the Company›s efforts to create a safe and healthy work environment, Medco Power implements a
comprehensive hazard identification and work risk assessment process across all of its operational activities. This
step is carried out through the implementation of an integrated system in identifying hazards, assessing work risks,
and investigating incidents that occur. Hazard identification is carried out comprehensively across all operational
activities, from the planning stage to the implementation of activities.
Hazard identification and work risk assessment are carried out through the implementation of Hazard ELB
Identification and Risk Assessment for routine operational work and Job Safety Analysis (JSA) for non-routine/
project work. Incident investigations are conducted by an Independent Investigation Team appointed by
the top management, who work together with related teams to identify the root cause of the accident and
provide recommendations and follow-up to prevent recurrence of the incident. Types of Occupation with Risk of
Occupational Diseases Based on Type of Business Unit [GRI 403-2][GRI 403-10]
Power Plant High Risk
Preventive Measure
Type Occupation Type
Coal Fired Power Operation • Education about the dangers of noise and how to use hearing protection properly.
Plant of rotating • Conducting special examinations on workers exposed to noise (audiometry),
equipment and measuring noisy work environments, and noise exposure dose received by workers
emitting steam periodically.
flow (noise) • Provision of hearing protection adjusted to the Noise Rating reduction (NRR).
Geothermal Operation and • Education about the dangers of hot steam and H2S gas for health and the use of
Power Plant maintenance of appropriate respiratory protective equipment
power plants • Conducting measurements and monitoring in the work environment and measuring
the exposure dose received by workers periodically
• Provision of respiratory protective equipment that is appropriate to the conditions
Combined Cycle Operation and • Health risk assessment, periodic health checks, work environment health checks,
Power Plant maintenance of routine socialization through health talk sessions
power plants • Education about the dangers of noise and how to use hearing protection equipment
properly
• Conducting special examinations on workers exposed to noise (audiometry), noisy
work environments, and the dose of noise exposure received by workers periodically
• Provision of personal protective equipment appropriate to the type of work
Minihydro Power Operation and • Occupational safety education and proper use of personal protective equipment
Plant maintenance of • Provision of personal protective equipment appropriate to the type of work
power plants • Provision of anti-snake venom serum and grab sticks
• Use of bee nets
Gas Engine Operation and • Education about the dangers of noise and how to use hearing protection properly
Power Plant maintenance of • Conducting special examinations on workers exposed to noise (audiometry),
power plants conducting measurements of noisy work environments, and measuring the noise
exposure dose received by workers periodically
• Provision of appropriate personal protective equipment
Gas Fired Power Operation and • Health risk assessments, periodic health checks, work environment health checks,
Plant maintenance of routine socialization through health talk sessions
power plants • Education about the dangers of noise and how to use hearing protection properly
• Conducting special examinations on workers exposed to noise (audiometry),
conducting measurements of noisy work environments, and measuring the noise
exposure dose received by workers periodically
• Provision of personal protective equipment appropriate to the type of work
Solar PV Power Operation and • Education about the dangers of heat and electricity
Plant maintenance of • Education on how to use personal protective equipment properly
power plants • Provision of anti-snake venom serum and grab sticks
• Use of bee nets
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5 ONs Commitment for Safety and Quality in Riau CCPP Maintenance
MRPR recorded an important achievement in the The successful implementation of the Major Overhaul
implementation of the first Major Overhaul, which was also shows MRPR’s commitment to implementing
completed on July 18, 2024. With an installed capacity strict OHS protocols, as well as achieving targets
of 275 MW, this activity was carried out to ensure the according to the specified plan. MRPR shows the
sustainability of safe, efficient, and quality operations Company’s real contribution to maintaining a safe
through the implementation of the "5 ONs" principles, and productive work environment. MRPR continues
namely On Safety, On Time, On Cost, On Scope, and to be committed to implementing best practices in
On Quality. This project involved 177 workers and OHS to support operational sustainability and create a
successfully recorded 76,366 safe working hours positive impact for all stakeholders.
without incidents resulting in Loss-Time Incidents.
This achievement reflects MRPR's commitment to
high occupational safety standards.
HIV-AIDS Prevention and Control Program – Platinum and Gold Category
As part of its commitment to creating a healthy Meanwhile, the Platinum category award was granted
and inclusive work environment, Medco Power to the assets of MEB, ELB and TJBPS O&M.
has successfully won the HIV-AIDS Prevention and
Control Program in the Workplace award in the This achievement further solidify Medco Power’s
Gold and Platinum categories. This award is a form commitment to fostering a healthy, safe, and inclusive
of appreciation for the company's ongoing efforts in work environment while promoting the overall well-
increasing awareness, prevention, and handling of being of its employees. Moving forward, the company
HIV-AIDS in the work environment. will continue to expand these initiatives to ensure their
benefits reach more employees and communities
In 2024, Medco Power received a Gold category award surrounding Medco Power’s operational assets.
for the assets of MRPR, MPSI and ELB.
Occupational Health Facilities [GRI 403-3] Occupational Safety Program
[GRI 403-6] As a company engaged in the energy sector, Medco
As part of its efforts to support employee health, Medco Power sees occupational safety as an important aspect
Power provides various occupational health facilities in efforts to realize sustainability. The Company is
aimed at ensuring their well-being. The occupational committed to ensuring a safe work environment for all
health facilities provided have been regulated in the employees, partners, and the surrounding community.
Periodic Health Examination, Medical Check-up (MCU) Medco Power has HSE policies and work guidelines in
procedure (HSESS-2020-III-Procedure-Rev0000009). the Operational Excellence Handbook, a systematic
This program consists of pre-employment MCU, annual and collaborative guide to achieving safe, reliable, and
MCU, which is routinely carried out on all workers, and efficient operations.
exit MCU, which is carried out before workers retire.
The Company also conducts additional health checks HSE management includes practices related to
for workers who work in high-risk areas. understanding the context and scope, commitment
from leadership, planning all significant actions to
With adequate facilities and integrated programs, address risks related to HSE and the Occupational
Medco Power ensures that occupational health is Health and Safety Management System (OHSMS),
an important part of creating a sustainable work monitoring and evaluation, and continuous
culture and supporting the success of the Company›s improvement. In addition, the Company also has an
operations. HSE Committee consisting of worker representatives
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Corporate Governance Sustainability Report Attachments
from each division/department who are responsible II. Maintain a safe and healthy working
for preparing and updating management policies and environment:
work guidelines to improve occupational health and a. Conduct self OE assessment for Medco
safety. [GRI 403-4] Power
b. Implement safety culture self-assessment
The implementation of the occupational safety at Medco Power
program is set out in the HSE Performance Indicator c. Conduct corporate HSE audit at Medco
(HSEPI) and Leading Indicators, consisting of Power
occupational safety programs that involve the active d. Implement Improved Learning
role of management, compliance programs with laws organization at Medco Power
and regulations, training programs, and occupational e. Improve Life-Saving Rules (LSR) Field
safety campaigns. The Company organizes and Verification at Medco Power
includes workers and contractors in OHS training. f. Implement pilot project of predictive
safety performance in Medco Power
Some of the activities carried out by the company in 2. Asset integrity (storage and transportation).
2024 to continue to improve OHS include: [GRI 403-5] Ensuring the security and integrity of each asset:
1. Workplace health and safety. a. Conduct asset integrity and process safety
I. Fit To Work For All Workers & Health Case through corporate HSE audit
Management: b. Implementation process safety event
a. Achieve remaining MCU compliance metrics
100% for Medco Power c. Evaluate effectiveness of business
continuity governance through audit
Zero Accident Award for the Electricity Sector
Medco Power has once again demonstrated its This prestigious accolade was earned through various
commitment to maintaining high occupational safety Medco Power subsidiaries, including MEB, ELB, MGS,
standards by receiving the Zero Accident Award for MRPR, MPSI and TJBPS O&M. This achievement
the electricity sector at the national level. This award underscores the effectiveness of the Company’s
serves as recognition of the Company’s achievement occupational health and safety (OHS) management
in creating a safe and accident-free work environment. system across all operational lines.
Implementation of OHS for Work The Company also implements the Contractor Safety
Partners Management System (CSMS) as a system to manage
In managing OHS, Medco Power is always committed contractors working in the Company›s operational
to creating a safe and healthy work environment for all areas. CSMS works with a comprehensive system
stakeholders, including work partners. The Company to support the Company in managing contractors,
believes that one of the keys to success in achieving from the planning stage and implementation to the
business & business is through the implementation completion of work. In recruitment, contractors must
of Occupational Health and Safety (OHS) principles consider local workers around the site who have
carried out by all parties. Therefore, through various trained qualifications.
initiatives, Medco Power strives to ensure that all parties
involved in operational activities are able to work in safe Cooperation carried out together with contractors to
conditions and free from the risk of accidents. support the implementation of the power generation
business includes construction, operation, and
Through its subsidiary, namely TJBPS O&M, the maintenance activities. The types of work carried out
Company has implemented a Security Management by contractors include Operation & Maintenance/
System (SMP) at the Tanjung Jati B CFPP and Overhaul Services, Building Construction, Catering
achieved GOLD Proper. This step is in accordance Services, Security, Equipment Certification/Calibration,
with the Decree of the Minister of Energy and Mineral Consultants, External Audits, Laboratories, and
Resources Number 3407.K/Mem/2012 concerning the Suppliers.
Determination of National Vital Objects (Obvitnas) in
the ESDM sector and the Regulation of the Chief of
Police Number 27 of 2009 concerning the Security
Management System.
PT Medco Power Indonesia 125 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
OHS Aspect Performance
In its implementation, one of the most important indicators is the achievement of OHS performance, which
reflects the Company›s efforts to realize business activities based on the principle of sustainability. Medco Power
consistently and continuously implements Occupational Health and Safety (OHS) principles across all employees
through the 3T Golden Rules approach. This strategy fosters a mindset where employees understand the tasks they
perform, recognize potential hazards, and apply effective risk mitigation measures. Additionally, the Company has
maintained a strong safety record across all operational assets.
In 2024, Medco Power recorded significant achievements in OHS, once again attaining Zero Accidents (Zero LTI)
for both company employees and contractor workers across all operational and maintenance activities at its power
plant business units. Since 2020, the Company has achieved Zero Lost Time Incidents, and since 2022, it has
accumulated more than 43 million Safe Working Hours. Moving forward, Medco Power will continue enhancing
its OHS performance through initiatives such as the Operational Excellence Program.
The optimal OHS performance cannot be separated from the active role and support of all parties at Medco
Power, from management to employees. The safety culture continues to be developed through training, routine
inspections, and policy updates in accordance with the latest regulations.
OHS Performance Achievement [GRI 403-9]
Description 2024 2023 2022
Number of Fatalities 0 0 0
Lost Time Incident Rate 0.0 0.0 0.0
Total Recordable Incident Rate 0.43 0.0 0.0
Occupational Disease Rate 0.0 0.0 0.0
Percentage of Incidents Involving 83% (5/6) 85% (6/7) 71% (5/7)
Contractors
PROCESS
SAFETY
OCCUPATIONAL
HEALTH
PSE Tier 1 : 0
FAT : 0
PSE Tier 2 : 0
LWDC : 0
RWC : 0
Tier 3 : 0
MTC : 0
• Firts Aid Cases: 1 • Overdue Certification SCE: 0
• Non-work related • Overdue PM SCE: 0
injuries: 0 Unsafe • Overdue CM SCE: 0
• HiPo Near Miss: 0 Conditions: 707 • Overdue Action Audit Finding/Safety
• Near Miss: 0 Unsafe Act: 82 • Study: 0
PERSONAL PROCESS
SAFETY SAFETY
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Corporate Governance Sustainability Report Attachments
Community Development
Performance
For Medco Power, business success is measured not
only by financial and operational achievements, but
also by how the company can make the greatest
contribution to the community
In carrying out business activities aimed at achieving consistently committed to minimizing these impacts
sustainability values, Medco Power strives to create through high operational standards, environmentally
balance in its various supporting elements, including friendly technology, sustainable environmental
the community. The Company views the community management, and strict compliance with applicable
as an important pillar in realizing inclusive and laws and regulations. Active communication with
sustainable development. the community is continuously maintained to ensure
that emerging issues are addressed promptly and
For Medco Power, business success is not only measured effectively, preserving harmony between the company
through financial and operational achievements but and its surrounding environment.
also by how the company can provide maximum
contribution to the community, especially those in The Company also routinely carries out social impact
the areas around the operational area. Medco Power assessments in the Company‘s operational areas by
is committed to actively contributing to community involving stakeholders, including local governments,
development through various sustainable social local communities, and civil society organizations,
programs. Our policies are designed to support the so that the results can reflect existing needs and
improvement of the quality of life for surrounding problems. In 2024, the Company has carried out a
communities, particularly in the areas of education, social impact assessment on the community with the
social welfare, and the environment, with the goal of following results: [OJK F.23] [OJK 413-2]
creating a lasting positive impact. 1. Encouraging local economic growth by creating
job opportunities for the local community and
Medco Power has also established both short-term business prospects for local enterprises.
and long-term targets for its community contributions. 2. The Company‘s participation in local and
The short-term targets focus on education and social community activities, including cultural, religious,
activities, while the long-term targets emphasize and national events, fosters a collaborative and
education and environmental conservation. These synergistic relationship with stakeholders.
initiatives are tailored to the characteristics of 3. The Company‘s strategic role includes supporting
the operational areas, economic feasibility, and vulnerable and marginalized groups and providing
community needs to ensure that the programs are assistance during emergency situations such as
effective and sustainable. natural disasters.
4. Enhancing infrastructure through initiatives such
Social Impact Assessment as providing a water tank for Al Hasyim musholla in
In carrying out business activities based on RW 3 Tuah Negeri at MRPR and supplying cement
sustainability values, Medco Power is aware of its materials for the construction of the second floor
responsibility to pay attention to potential social of Nurul Iman Mosque in Tongo village at MPSoS.
impacts that occur in areas around its operations.
This includes increased activity and mobility Medco Power ensures that all of the Company‘s
around operational areas that intersect with local operational activities, both those that are already
communities. However, Medco Power remains running and those that will be started, have gone
PT Medco Power Indonesia 127 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
through a comprehensive social impact evaluation In 2024, the Company received 20 public complaints
process. This assessment will be the basis for the concerning environmental discomfort in the
Company in designing a more targeted risk prevention surrounding community, all of which were addressed
and management program. appropriately. One such complaint involved concerns
over the alleged decline in water quality in Kalianyar
Public Complaint Mechanism Village, located near MCG. In response, MCG promptly
The complaint mechanism allows the public to submit conducted water quality tests at the Bondowoso
complaints or input related to operational impacts Regional Technical Implementation Unit (UPTD), a
transparently while also providing the Company with laboratory recommended by both the local community
the opportunity to address the issue with a quick and government. The test results confirmed that all
response. This is understood by Medco Power, which water quality parameters were within acceptable
always strives to maintain synergy and harmonious limits, indicating that the water remained safe for
relations with the community. consumption.
The Company has a Public Complaint Handling CSR Activities
Procedure as part of the Stakeholder Engagement Throughout 2024, the Company carried out Corporate
Procedure, which provides access for the public to Social Responsibility (CSR) activities to provide
submit complaints, suggestions, or other information benefits to the community. CSR activities carried out
to the Company. Communities around the company‘s include: [OJK F.25][GRI 413-1]
operational areas can submit their complaints through
the Medco Power contact corsec.mpi@medcoenergi.
com [OJK F.24]
Education
Encourage Education Development through "Employee Teaching" Program
Medco Power, through its subsidiary MEB, successfully held the "Employees Teach" program for four days on July 15-18, 2024,
at SMA Negeri 18, Tembesi, Sagulung, Batam. This program is part of MEB's social and environmental responsibility efforts to
support the development of education in communities around its operational areas.
In this program, MEB employees interact directly with students through interactive simulations and practical demonstrations.
The materials presented include safety issues, the use of APAR, how to operate a power plant, the use of first aid, knowledge
about HIV/AIDS, and the introduction of interests, talents, and socialization related to bullying in schools.
In addition to MEB, MGS also provides employees with the opportunity to share their knowledge and experience with students
at SD Negeri Lumban Gaol. Employees with expertise in their respective fields deliver sessions on the professional world to the
children. This program aims to provide additional insights beyond the school curriculum, introduce various professions, and
inspire students to pursue their aspirations. Through this initiative, employees can directly contribute to enhancing educational
opportunities for the younger generation, share inspiration, and develop their communication and teaching skills.
Fostering Early Reading Interest through the Taman Baca Library
MGS actively supports the development of children's reading interest around SD Negeri Lumban Gaol through the Taman
Baca Library initiative. This program provides a dedicated reading space with a collection of new books aimed at nurturing a
love for reading from an early age. The Taman Baca Library is expected to serve as a valuable resource for children to expand
their knowledge and enhance their literacy skills.
By offering access to high-quality reading materials, MGS hopes to make a positive contribution to the intellectual development
of children, helping them build their capacity for lifelong learning.
MCG Educates Students on Clean Energy
MCG conducted a school visit to educate students and distribute Geothermal Pocket Books to three schools in the Ijen area—
two elementary schools and one junior high school. During this activity, the MCG team provided students with insights into
geothermal energy, the potential of natural resources in their surroundings, and how technology can be leveraged sustainably
to meet future energy needs.
A total of 200 geothermal pocket books, developed by Universitas Jember (Unej) and Geopark, were distributed to students
as an additional learning resource. This initiative aims to spark curiosity and interest in science and renewable energy among
young generations. Through early education, MCG hopes to cultivate a future generation that is more aware of the importance
of clean and sustainable energy utilization.
PT Medco Power Indonesia 128 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments Social Access to Clean Water through Borehole Development To improve access to clean water, MRPR has constructed boreholes in five villages along the power plant route. This program aims to ensure a reliable supply of clean water, particularly for communities in areas with limited access to water sources. With these boreholes, residents in Tenayan Raya District and surrounding villages along the power plant access route will benefit from long-term improvements in clean water availability. Infrastructure Improvements for Village Roads Medco Power, through its subsidiary BJI has taken an important step in improving community infrastructure by contributing materials for road repairs in Waringinsari Village, Takokak District, Cianjur Regency. With the improvement of road access, it is hoped that transportation will be smoother, thus providing benefits to village residents while increasing the Company's operational efficiency. This contribution reflects BJI's commitment to supporting infrastructure development and strengthening partnerships between the Company and the village government. Through this synergy, it is hoped that the communication that has been established can provide a positive contribution to the Waringinsari Village community. Support Local Coffee Development in the Ijen Geothermal Project Area Medco Power, through its subsidiary MCG has collaborated to support the economic development of local communities around the Ijen-Wurung Caldera geothermal project area in East Java. In addition to being known for its stunning landscape, this area also has the potential to produce high-quality coffee with a unique taste. As part of the development of the first geothermal power plant in East Java, MCG has partnered with Nuri Indah Lestari, a micro, small, and medium enterprise (MSME), to help increase the marketing of their superior coffee products. This collaboration is expected to have a positive impact on local coffee business actors while supporting the economic growth of the community around the project. This initiative is a manifestation of Medco Power's commitment to empowering local communities through sustainable development. MEB-ELB Realisation Electricity Access for Underprivileged Communities Through MEB and ELB, Medco Power has successfully brought electricity to 20 underprivileged households in Riau Province by installing power connections. The Kepulauan Riau Terang program not only provides access to lighting but also paves the way for overall improvements in the quality of life for local communities. This initiative is a tangible demonstration of Medco Power’s commitment to community development, ensuring that every resident in Riau has equal access to essential infrastructure. Building Decent Housing for the Community through Medco Volunteer Day 2024 As part of its corporate social responsibility initiatives, Medco Power organized Medco Volunteer Day 2024 by donating a decent housing unit in Mauk, Tangerang. This program aims to support communities in need by providing safer and more suitable living conditions. Through this initiative, Medco Power hopes to improve the quality of life for residents and create a positive impact on community well-being. Preventing Stunting to Foster Healthy Generation MCG Ijen and MRPR actively contribute to improving community health through a stunting prevention program in their operational areas. This program aims to educate mothers and young children on the importance of nutrition and healthy eating habits to prevent stunting. Through this initiative, Medco hopes to create a long-term positive impact, particularly in supporting the growth and development of children in surrounding communities. Easier Access to Healthcare, MCG Provides Free Medical Check-Ups As part of its commitment to improving community health, MCG Ijen organized a Free Health Check-Up (GEPREK) program for residents near its operational area, particularly in Dusun Curah Macan, Ijen District. This initiative is a collaboration between MCG and Puskesmas Sempol, aimed at providing free healthcare services to those in need. MCG supported the program by providing medical examination equipment and medicines, while medical professionals from Puskesmas Sempol conducted the health check-ups. The program was well received by the community, with more than 100 people participating in the health screenings. Air Conditioner Maintenance Training Program to Enhance Community Skills MRPR organized a training program on air conditioner maintenance and servicing for communities living near the pipeline route. This initiative aims to enhance residents' technical skills, enabling them to achieve economic empowerment through AC maintenance expertise. Participants from areas surrounding the power plant have now acquired new skills in AC maintenance and servicing, which they can leverage to improve their livelihoods. PT Medco Power Indonesia 129 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile Distribution of Qurban Meat for the Community on Eid al-Adha In celebration of Eid al-Adha, Medco Power, through its various subsidiaries, organized a qurban meat donation program as a gesture of care and generosity toward the community. MEB and ELB contributed sacrificial animals, which were then distributed to 150 underprivileged residents. Meanwhile, MPE took part in the qurban donation program by distributing sacrificial animals to the community around its operational area. A total of 212 families in Sei-Selincah Subdistrict, Kalidoni District, Palembang, benefited from this initiative. Additionally, EPE facilitated the distribution of 27 sacrificial animals to residents near its operations. MCG also demonstrated its commitment to the community by donating 27 sacrificial animals. Furthermore, MGS, TJBPS, MRPR, MPSos, and PPP actively participated in this social initiative by contributing sacrificial animals. MGS, TJBPS, MRPR, MPSos, and PPP donated qurban animals, which were then distributed to those in need. This initiative not only helped fulfill the community's nutritional needs but also strengthened social ties and fostered solidarity among people. Enhancing Compassion through Orphanage Donations MEB, ELB, and MRPR demonstrated their commitment to social responsibility by organizing an Orphanage Donation Program for children in orphanages. Through this initiative, MEB-ELB provided essential aid in the form of staple food packages and monetary donations in envelopes to 19 orphaned children. This support aimed to ease the financial burden of the orphanage and bring joy to the children residing there. Meanwhile, MRPR extended its assistance by distributing staple food packages to 18 orphaned children in RW 2, Industri Tenayan Subdistrict. In addition to MEB-ELB, BJI consistently organizes donations for orphaned children as part of its commitment to the community during Eid al-Fitr. BJI is also actively involved in the annual qurban donation program during Eid al-Adha in collaboration with DKM Darulfalah Sukarama and AN-Nur Buniwangi. Distributing Donation to Underprivileged Communities MPE, EPE, and MRPR demonstrated their commitment to social responsibility by organizing an aid program for underprivileged communities. Through this initiative, MPE distributed 63 staple food packages to 63 households in the surrounding area, while EPE provided 60 packages to 60 families near its operational site. This assistance aimed to help meet the basic needs of low- income families and alleviate their economic burden. Meanwhile, MRPR contributed by distributing 20 staple food packages to residents in Ring 0 of the PLTU area. MCG (Ijen) Organizes Blood Donation Drive in Collaboration with PTPN and PMI In an effort to support public health and ensure an adequate blood supply in the surrounding areas, MCG conducted a Blood Donation Program in collaboration with PTPN and the Indonesian Red Cross (PMI). The event took place in Sempol Village, Ijen District, aiming to encourage community members and employees to participate in this social initiative. The program received a positive response, with 125 donors taking part. Through the collaboration between MCG, PTPN, and PMI, this initiative is expected to become a regular event that continues to benefit the local community. Provision of Clean Water for Places of Worship MRPR provided assistance in the form of water tank installations for Musholla Al Hasyim in Tuah Negeri Village as part of efforts to mitigate potential safety risks around the power plant due to limited access to clean water. A total of one water tank and one signage unit were also provided for a Musholla in Melebung Village. This program aims to improve the quality of life for the community by ensuring the availability of clean water for religious and daily needs. Supporting Community Health through Posyandu Revitalization As part of its commitment to supporting public healthcare services, MRPR has undertaken the revitalization of a Posyandu (integrated health post) in Industri Tenayan Village. This program aims to enhance the quality of basic healthcare services for mothers and children. Through this initiative, the Posyandu in the village benefits from improved facilities that support better community healthcare services. Promoting Community Self-Sufficiency through Cricket Farming Program As part of its commitment to economic empowerment, MRPR is supporting the development of cricket farming in RW 1, Industri Tenayan Subdistrict. This program includes the establishment of breeding enclosures, seed supply, visual branding, and market access for the farmed crickets. Through this initiative, the local community now has new entrepreneurial opportunities that promote self-sufficiency and provide sustainable economic benefits. Environment Coastal Ecosystem Conservation through Mangrove Forest Rehabilitation In commemoration of World Environment Day, MEB and ELB actively participated in the rehabilitation of the Sei Beduk Piayu Protected Mangrove Forest through a Mangrove Tree Planting program. This initiative was carried out in collaboration with various stakeholders, including the Batam City Environmental Agency (DLH) and other companies. A total of 100 mangrove seedlings were successfully planted, demonstrating a shared commitment to preserving coastal ecosystems and biodiversity. The mangrove planting initiative is a long-term effort to protect coastal ecosystems. Mangrove trees play a crucial role in preventing coastal erosion, serving as habitats for various marine species, and absorbing carbon emissions. By planting mangroves, Medco Power contributes to climate change mitigation and environmental conservation for future generations. PT Medco Power Indonesia 130 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
Statement Letter of the Board
of Commissioners and Board
of Directors
Regarding The Responsibilities Toward the 2024 Annual Report and Sustainability Report of PT Medco Power
Indonesia.
We, the undersigned, being the members of the Board of Commissioners and Board of Directors of the Company,
hereby, declare that we are fully responsible for preparation and presentation of the 2024 Annual Report and
Sustainability Report and 2024 Financial Statements. All information in the 2024 Annual Report and Sustainability
Report and 2024 Financial Statements have been fully and accurately disclosed and the Reports do not contain
false information or omitted information or material facts.
In witness whereof, the undersigned have drawn up this statement truthfully.
Jakarta, June 2025
Prepared by:
Eka Satria
President Director & Chief Executive Officer
Femi Firsadi Sastrena Myrta Sri Utami Imron Gazali
Director & Chief Commercial and Director & Chief Financial Officer Director & Chief Operating Officer
Business Development Officer
Approved by:
Amri Siahaan
President Commissioner
Darmoyo Doyoatmojo M. Teguh Pamuji
Commissioner Independent Commissioner
PT Medco Power Indonesia 131 2024 Annual & Sustainability Report
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Attachment 134 Company Structure 135 Organizational Structure 136 List of Abbreviations 137 OJK Annual Report Regulation Reference 145 OJK Sustainability Report Regulation Reference 147 GRI Index 149 Audited Financial Report 2024
Page 135
7
Corporate Governance Sustainability Report Attachments
ELB Gas-fired IPP
Located in Batam, Riau Islands
Page 136
Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
Company
Structure
PT Medco Energi Internasional Tbk PT Medco Power Internasional
PT Medco Kansai Power Indonesia PT Dalle Panaran
PT Energi Prima Elektrika PT Medco Geothermal Nusantara
PT Medco Power Sentral
PT Multidaya Prima Elektrindo
Sumatera
PT Dalle Energy Batam PT Medco Ratch Power Riau
PT Medco Energi Menamas PT Medcopower Servis Indonesia
PT Mitra Energi Batam PT Medco Solar Pasifik
PT Medco Pasifik Solar
PT Universal Batam Energy
Transmisi
PT Energi Listrik Batam PT Medco Power Energi Services
PT Medcopower Elektrika
PT Medco General Power Services
Indonesia
PT TJB Power Services PT Medco Hidro Indonesia
PT Medco Power Geothermal
PT Nawakara Energi Sumpur
Services
PT Medco Geothermal Sarulla PT Sangsaka Hidro Barat
PT Pembangkitan Pusaka
PT Medco Geopower Sarulla
Parahiangan
Sarulla Operation Ltd PT Sangsaka Agro Lestari
PT Medco Geothermal Indonesia PT Bio Jatropha Indonesia
PT Medco Cahaya Geothermal PT Sangsaka Hidro Ciseureuh
PT Medco Geothermal Sumatera PT Sangsaka Hidro Lestari
PT Medcopower Energi Baru PT Sangsaka Hidro Selatan
PT Medcopower Surya Nusantara PT Sangsaka Hidro Kasmar
PT Medcopower Transportasi
PT Sangsaka Hidro Baliase
Listrik
PT Sangsaka Hidro
PT Medcopower Solar Sumbawa
Patikala Lima
PT Medco Power Geothermal Energi PT Medco Solar Bali Barat
Medco Power Global Pte Ltd PT Medcosolar Bali Timur
Pacific Medco Solar Energy Pte Ltd PT Indo Medco Power
Note:
PT Teknologi Data Infrastruktur PT Muara Enim Multi Power Active Company
Dormant Company
PT Medco Power Indonesia 134 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
Organizational
Structure
PRESIDENT DIRECTOR &
CHIEF EXECUTIVE OFFICER
Eka Satria
Director & Chief
Director & Chief Director & Chief
Commercial and Business
Operating Officer Financial Officer
Development Officer
Imron Gazali Femi Firsadi Sastrena Myrta Sri Utami
VP Legal, Corporate
Sr. Manager Sr. VP
VP Operation VP Commercial Secretary &
Corporate Finance Project & Development
Communication
Raja D. Noerhadi Vinolia Suriyanto Reza Aldi George Cornelis Herry Wijanto
Sr. Manager VP Health, Safety,
VP Operation & Sr. Manager VP Human Resources
Corporate Planning & Environment, Social &
Maintenance Services New Ventures & Business Support
Investment Appraisal Security
Syaripuddin Aria Gunanto Latief M. Bayu Indra Putra Agus Mulyana Andy J. Effendi
Sr. Manager Sr. Manager
VP Gas to Power & VP Government
Business Development Corporate Accounting VP Solar & Wind
New Technology Relations
& Sustainability & Functional Excellence
Norman F. Selamet Joko S. Yekti Budi Setyawan Adrianto Darmoyo Kristyaningrum Yunita
Sr. Manager Sr. Manager VP Supply Chain
VP Geothermal
Asset Management Corporate Treasury Management
Yunita Rustiandini Endang Pamularsih Novianto Yudhi Istaryadi
Sr. Manager Manager Internal Audit
Operation Engineering & Integrity Compliance
Medi Setiawan Irwan Supranto
Sr. Manager
Technical Assurance
Akhmad Dumami
Note:
Board of Directors
PT Medco Power Indonesia
PT Medco Power Indonesia 135 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
List of
Abbreviation
1 ABMS Anti-Bribery Management Systems 52 MRPR PT Medco Ratch Power Riau
2 AGMS Annual GMS 53 MSCI Morgan Stanley Capital International
3 BEI Indonesia Stock Exchange 54 MW Mega Watt
4 BJI Bio Jatropha Indonesia 55 MWp Mega Watt peak
5 BOC Board of Commissioners 56 NZE Net Zero Emissions
6 BOD Board of Directors 57 O&M Operation & Maintenance
7 BPM Business Process Management 58 OHS Occupational Health and Safety
8 CBDO Chief Business and Development Officer 59 OJK Financial Services Authority
9 CCPP Combined Cycle Power Plant 60 PT Limited Liability Company
10 CEO Chief Executive Officer 61 Perseroan PT Medco Power Indonesia
11 CFO Chief Financial Officer 62 PGN PT Perusahaan Gas Negara Tbk
12 COD Commercial Operation Date 63 PJBG Gas Sales and Purchase Agreement
13 COO Chief Operating Officer 64 PLN PT Perusahaan Listrik Negara (Persero)
14 COVID-19 Coronavirus Disease 2019 65 PLNB PT Pelayanan Listrik Nasional Batam
15 Company PT Medco Power Indonesia 66 PLNE PT PLN Enjiniring
16 CSR Corporate Social Responsibility 67 PLTS Solar Power Plant
17 DEB Dalle Energy Batam 68 PLTG Gas-Fired Power Plant
18 EBITDA Earnings before Interest, Tax, 69 PLTGU Combined Cycle Power Plant
Depreciation and Amortization 70 PLTMG Gas Engine Power Plant
19 E&P Exploration & Production 71 PLTU Steam Power Plant
20 ELB PT Energi Listrik Batam 72 PLTP Geothermal Power Plant
21 EPC Engineering, Procurement, Construction 73 PLTMH Mini hydro Power Plant
22 EPE PT Energi Prima Elektrika 72 POJK Financial Services Authority Regulations
24 ESG Environmental Social Governance 73 PPA Power Purchase Agreement
25 GCG Good Corporate Governance 74 PPP Pembangkitan Pusaka Parahiyangan
26 GMS General Meeting of Shareholders 75 PROPER Company Performance Rating Program
27 GRK Greenhouse Gas in Environmental Management
28 GRI Global Reporting Initiative 76 PV Photovoltaics
29 GWh Giga Watt hour 77 Q Quarter
30 Ha Hectare 78 REC Renewable Energy Certificates
31 HO Head Office 79 Rp Rupiah
32 HR Human Resources 80 RUPS General Meeting of Shareholders
33 HSE Health, Safety and Environment 81 RTIU Regional Technical Implementation Unit
34 IDX Indonesia Stock Exchange 82 RUPSLB Extraordinary General Meeting of
35 IPP Independent Power Producer Shareholders
36 ISO International Organization for 83 RUPST Annual General Meeting of Shareholders
Standardization 84 SCM Supply Chain Management
37 ITB Institut Teknologi Bandung 85 SCPP Simple Cycle Power Plant
38 KPI Key Performance Indicator 86 SDM Human Resources
39 KWh Kilo Watt hour 87 SEOJK Financial Services Authority Circular
40 LNG Liquefied Natural Gas Letter
41 MEB PT Mitra Energi Batam 88 SKK Migas Special Task Force for Upstream Oil and
Gas Business Activities
42 MedcoEnergi PT Medco Energi Internasional Tbk
89 SOL Sarulla Operation Limited
43 Medco Power PT Medco Power Indonesia
90 TDC Talent Development Committee
44 MGS PT Medco Geothermal Sarulla
91 TJBPS TJB Power Services
45 MMBTU Million British Thermal Unit
92 US$ US Dollar
46 MPE PT Multidaya Prima Elektrindo
93 USTDA United States Trade and Development
47 MPEI Medco Power Elektrika Indonesia Agency
48 MPGS Medco Power Geothermal Services 94 YPK PLN Yayasan Pendidikan dan Kesejahteraan
49 MPI PT Medco Power Indonesia PT PLN (Persero)
50 MPSI PT Medco Power Servis Indonesia 95 VP Vice President
51 MRME Energy and Mineral Resources 96 WBS Whistle-Blowing System
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OJK Annual Report
Regulation Reference
SEOJK No. 16/SEOJK.04/2021 Page
ANNUAL REPORT FORMAT
1. Annual report is presented in printed and electronic formats.
2. The printed version of the annual report is printed on light-colored paper of fine quality, in A4 size, bound, and can
be reproduced in good quality.
3. Annual report may present information in the form of images, charts, tables and/or diagrams with clear titles and
descriptions to facilitate reading and understanding.
4. The electronic version of the annual report is presented in pdf format.
ANNUAL REPORT CONTENT
1. General Provision √
a. Annual report at least contains the following information:
1. Summary of key financial information
2. Stock information (if any)
3. Board of Directors Report
4. Board of Commissioners Report
5. Profile of Issuer or Public Company
6. Management discussion and analysis
7. Corporate Governance of Issuer of Public Company
8. Corporate social and environmental responsibilities of Issuer of Public COmpany
9. Audited annual financial statements
10. Statement from members of Board of Directors and members of Board of Commissioners on accountability
for the Annual Report.
2. Description of Content of Annual Report 42-43
A. Summary of Key Financial Information
Summary of Key Financial Information contains financial information presented in 3 (three) fiscal year
comparisons or since the commencement of the business if the Issuer or Public Company started its business for
less than 3 (three) years, and at least contain:
1. Revenue/Sales
2. Gross profit
3. Profit (loss)
4. total profit (loss) attributable to equity holders of the parent entity and non-controlling interest
5. Total comprehensive profit (loss)
6. Total comprehensive profit (loss) attributable to equity holders of the parent entity and non-controlling
interest
7. Earning (loss) per share
8. Total assets
9. Total liabilities
10. Total equities
11. Profit (loss) to total assets ratio
12. Profit (loss) to equities ratio
13. Profit (loss) to income ratio
14. Current ratio
15. Liabilities to equities ratio
16. Liabilities to total assets ratio
17. Other information or financial ratios relevant to the Issuer or Public Company and the type of industry.
B. Stock Information 46
Stock information (if any) contains at least:
1. Shares issued for every quarter presented in a comparative format for the last 2 fiscal years, covering at least:
a. Number of outstanding shares
b. Market capitalization is based on the price at the stock exchange where the shares are listed on
c. Highest, lowest, and closing share prices at the stock exchange where the shares are listed on
d. Trading volume at the stock exchange where the shares are listed on.
Information in letter b), c), and letter d) are only disclosed if the Issuer is a Public Company and its shares are
listed on the Stock Exchange;
2. In the event of corporate actions, such as stock split, reverse stock, issuance of dividends, issuance of bonus 46
shares, and change in share par value, then the share price referred to in point 1) should be added with
explanation on:
a. Date of corporate action
b. Ratios of tock split, reverse stock, dividend, bonus share and changes in the shares’ par value
c. Number of outstanding shares prior to and after corporate action
d. Amount of convertible bonds/stocks exercised (if any)
e. Share price prior to and after corporate action.
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3. In the event that the company’s shares were suspended or delisted from trading during the financial year, 46
then the Issuer should provide explanation on the reason for the suspension and/or delisting.
4. In the event that the suspension and/or delisting as referred to in point 3) was still in effect until the date 46
of the annual report, then the Issuer or Public Company should explation the actions taken to resolve the
suspension and/or delisting.
c. The Board Of Directors Report 16-18
The Board of Directors report should at least contain:
1. The performance of the Issuer or Public Company, at least covering:
a. Strategy and strategic policies of the Issuer or Public Company
b. The roles of the Board of Directors in the Issuer’s or Public Company’s strategy and strategic policy
formulation
c. Actions taken by the Board of Directors to ensure the implementation of the Issuer’s or Public Company’s
strategies
d. Comparison between results and targets
e. Challenges faced by the Issuer or Public Company.
2. Description of business prospects. 19
3. Implementation of the Issuer’s or Public Company’s GCG practices. 17-18
d. The Board Of Commissioners Report 13
The Board of Commissioners report should at least contain:
1. Assessment on the performance of the Board of Directors in the management of the Issuer or Public
Company.
2. View on the business prospects of the Issuer or Public Company as prepared by the Board of Directors. 15
3. View on the Issuer’s or Public Company’s GCG practices. 14
e. Profile of the Issuer or Public Company 50
Profile of the Issuer or Public Company should cover at least:
1. Name of Issuer or Public Company, including change of name, reason of change, and the effective date of
the name change during the year under review.
2. Access to Issuer or Public Company, including branch office(s) or representative office(s), where public can 50
have access to information of the Issuer or Public Company, which include: address, telephone number,
e-mail address and website address.
3. Brief history of the Issuer or Public Company. 36-38
4. Vision, mission and corporate culture/values of the Issuer or Public Company. 39
5. Line of business according to the latest articles of association, line of business carried out in the fiscal year, 30-31
and types of products and/or services produced.
6. The operation coverage of the Issuer or Public Company. 2-3
7. Structure of organization of the Issuer or Public Company in chart format, at least covering one level below 135
the Board of Directors, including committees under the Board of Directors (if any) and under the Board of
Commissioners, with the names and titles.
8. Memberships in national and international industry associations. 51
9. Profiles of members of the Board of Directors, covering at least: 41
a. Name and position according to duties and responsibilities
b. Lates photograph
c. Age
d. Citizenship
e. Education and/or certification
f. Employment history, covering information on:
1. Legal basis for the appointment as a member of the Board of Directors to the said Issuer or Public
Company
2. Concurrent positions, as a member of the Board of Directors, a member of the Board of
Commissioners, and/or a member of committees and other positions (if any)
3. Work experience and term of office in and outside of the Issuer or Public Company
g. Disclosure of affiliation with other members of the Board of Directors, members of the Board of
Commissioners, the majority shareholders (if any), including the name of the affiliated party
h. Changes and reasons for the change in the composition of the Board of Directors.
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10. Profiles of members of the Board of Commissioners, covering at least: 40
a. Name and position
b. Latest photograph
c. Age
d. Citizenship
e. Education and/or certification
f. Employment history, covering information on:
1. Legal basis for the appointment as a member of Board of Commissioners
2. Legal basis for the first appointment as a member of the Board of Commissioners who is also an
Independent Commissioner at the said Issuer or Public Company
3. Concurrent positions, as a member of the Board of Commissioners, a member of the Board of
Directors, and/or a member of committees and other positions (if any)
4. Work experience and term of office in and outside of the Issuer or Public Company
g. Disclosure of affiliation with other members of the Board of Commissioners, the majority shareholders (if
any), including the name of the affiliated party
h. Statement of independence of Independent Commissioner in the event that the Independent
Commissioner has been appointed more than 2 (two) periods
i. Changes and reasons for the change in the composition of the Board of Commissioners.
11. In the event that there were changes to the composition of the Board of Directors and/or the Board of
Commissioners, occurring after the end of the reporting year up to the deadline for submission of the
Annual Report, then the Annual Report discloses the last and the previous composition of the Board of
Commissioners and/or the Board of Directors.
12. Employee statistics by gender, position, age, education level, type of employment within the reporting year. 113-114
Information disclosure can be presented in tabular form
13. Names of shareholders and the percentage of ownership at the beginning and at the end of the reporting 46
year, including information on:
a. Shareholders having 5% or more shares of Issuer or Public Company
b. Members of the Board of Directors and Board of Commissioners who own shares of the Issuers or Public
Company
c. Groups of public shareholders (each with less than 5% share ownership).
14. Percentage of indirect share ownership of members of the Board of Directors and Board of Commissioners at 46
the beginning and at the end of the reporting year.
15. Number of shareholders and percentage of share ownership based on: 46
a. Ownership by local institutions
b. Ownership by foreign institutions
c. Ownership by local individuals
d. Ownership by foreign individuals.
16. Information on the direct and indirect majority and controlling shareholders of the Issuer or Public Company, 16
both directly and indirectly, as well as individual shareholders, presented in the form of a chart or diagram.
17. Names of subsidiaries, associated companies, joint ventures controlled by the Issuer or Public Company (if 134
any), with information on the percentage of stock ownership, line of business, total assets and operating
status of these entities. For subsidiaries, disclose the addresses of all subsidiaries.
18. Chronology of share listing, number of shares, nominal value, and offering price from the beginning of the 47
listing up to the end of the reporting year, and the name of the Stock Exchange where the Issuer of Public
Company shares are listed.
19. Information on securities listing other than the said security in point 18), containing at least the name of the 48-49
Securities, year of issuance, interest rate/yield, date of maturity, offering price, and rating of the securities (if
any).
20. Public accountant services and public accounting firms and their networks/associations/allies, including: 51
a. Name and address
b. Assignment period
c. Information on audit and/or non-audit assignments
d. Audit and/or non-audit service fees for each reporting year
e. Disclose the information if there is no non-audit service provided.
21. Names and addresses of other capital market-supporting institutions and/or professions. 51
f. Management Discussion and Analysis
The management discussion and analysis section contains analysis and discussion on the financial statements
and other material information with emphasis on material changes that occurred during the financial year, at
least including:
1. Operational review per segment of operations according to the type of industry of the Issuer or Public 24
Company, containing at least:
a. Production, including process, capacity, and growth
b. Sales/revenue
c. Profitability.
2. A comprehensive analysis on the financial statements that includes a comparison between the financial 24-25
performance of the last 2 (two) financial years, and explanation on the causes and impact of such changes, at
least covering:
a. Current assets, non-current assets, and total assets
b. Short-term liabilities, long-term liabilities and total liabilities
c. Equities
d. Revenue/sales, expenses, profit (loss), other comprehensive income, and total comprehensive profit (loss),
and
e. Cash flows.
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3. The capacity to pay debts by providing the relevant ratios. 26
4. Account receivables collectability of the Issuer or Public Company by providing the relevant ratios.
5. Capital structure and \ management policies concerning capital structure, including the basis for the policy.
6. Discussion on material ties for capital goods investments, along with including information on at least:
a. The purpose of such ties
b. Source of funds to fulfill such ties
c. Currency of denomination
d. Measures taken by the Issuer or Public Company to protect the position of a related foreign currency
against risk.
7. Discussion on investment in capital goods realized in the last fiscal year, at least covers:
a. Type of capital goods investment
b. The objective of capital goods investment
c. Value of the investment of capital goods.
8. Material information and facts occurring after the date of the accountant’s report (if any).
9. Information on the prospect of the Issuer or Public Company in connection with the condition of the 27
industry, economy in general and the international market, supported with quantitative data from reliable
sources.
10. Comparison between the targets/projection at the beginning of the financial year and the results achieved,
concerning:
a. Revenue/sales
b. Profit (loss)
c. Capital structure
d. Other matters considered material for the Issuer or Public Company.
11. Targets/projections for the next one year concerning:
a. Revenue/sales
b. Profit (loss)
c. Capital structure
d. Dividend policy
e. Other matters considered material for the Issuer or Public Company.
12. Marketing aspects of the products and/or services of the Issuer or Public Company, at least concerning the
marketing strategy and market share.
13. Description regarding dividends during the last 2 fiscal years (if any), including at least: 26
a. Dividend policy
b. Date of cash dividend payment and/or date of non-cash dividend distribution;
c. Amount of dividend per share (cash and/or non-cash)
d. Total dividend distributed per year.
14. Realization of the use of proceeds from Public Offerings, under the conditon of:
a. During the reporting year, on which the Issuer has the obligation to report the realization of the use of
proceeds, then the realization of the cumulative use of proceeds until the year end should be disclosed
b. In the event that there were changes in the use of proceeds as stipulated in the Regulation of the
Financial Services Authority on the Report of the Utilization of Proceeds from Public Offering, then Issuer
should provide an explanation on such change.
15. Material information (if any), among others concerning investment, expansion, divestment, merger,
acquisition, debt/capital restructuring, transactions with related parties and transactions with conflict of
interest that occurred in the reporting year, covering:
a. Date, value, and object of the transaction
b. Names of transacting parties
c. Nature of the affiliation (if any)
d. Description of the fairness of the transaction
e. Compliance with related regulations
f. In the event that there is an affiliation relationship, the Issuer or Public Company also discloses
information:
1. Statement of the Board of Directors that affiliated transactions have gone through adequate
procedures to ensure that transactions are carried out in accordance with generally accepted business
practices, among others carried out by complying with the arms-length principles
2. The roles of the Board of Commissioners and Audit Committee to ensure that transactions are carried
out in accordance with generally accepted business practices, among others carried out by complying
with the arms-length principles.
g. For affiliated transactions or material transactions which are business activities carried out in order to
generate business income and are carried out regularly, repeatedly and/or continuously, an explanation is
added that the affiliated transactions or material transactions are business activities carried out in order to
generate business income and are carried out regularly, repeatedly and/or continuously.
h. For the disclosure of affiliated transactions and/or transactions with conflict of interest resulting from the
implementation of affiliated transactions and/or conflict of interest transactions that have been approved
by independent shareholders, information is added regarding the date of the GMS that approved the
affiliated transactions and/or conflict of interest transactions.
i. In the event that there is no affiliated transaction and/or conflict of interest transaction, it is disclosed;
16. Changes in regulations that have a significant effet on the Issuer or Public Company and impacts on the
financial statements (if any).
17. Changes in the accounting policy, rationale and impact on the financial statement (if any).
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g. Corporate Governance
The corporate governance of the Issuer or Public Company at least contains descriptions on:
1. The GMS, contains at least: 55
a. Information regarding the resolutions of the GMS in the reporting year and one year prior to the reporting
year, covering:
1. Resolutions of the GMS in the reporting year and one year prior the reporting year that were realized
during the reporting year
2. Resolutions of the GMS in the reporting year and one year prior the reporting year that have not been
realized and the reasons
b. In the event that the Issuer or Public Company is assisted by an independent party in the implementation
of the GMS to carry out the vote counting, then this matter is to be disclosed.
2. The Board of Directors, at least covering: 58-59
a. Duties and responsibilities of each member of the Board of Directors
b. Statement that the Board of Directors has a board charter
c. Policies and frequency of the Board of Directors meetings, including meetings with the Board of
Commissioners and attendance records of members of the Board of Directors in these meetings
d. Training and/or Board of Directors’ competence development:
1. Training and/or competence development policies for members of the Board of Directors, including
orientation programs for newly appointed members of the Board of Directors
2. Training and/or competence development activities attended by members of the Board of Directors
during the reporting year
e. Assessment on the performance of the committees that assist the execution of the duties of the Board of
Directors during the reporting year, at least covering:
1. Performance evaluation procedure
2. Criteria used
f. In the event that the Issuer or Public Company does not establish any committee to support the Board of
Directors in performing their duties, then this matter is to be disclosed.
3. The Board of Commissioners, at least covering: 56-57
a. Duties and responsibilities of the Board of Commissioners
b. Statement that the Board of Commissioners has a board charter
c. Policies and frequency of the Board of Commissioners meetings, including meetings with the Board
of Directors and attendance records of members of the Board of Commissioners in these meetings,
including attendance in GMS
d. Training and/or Board of Commissioners’ competence development:
1. Training and/or competence development policies for members of the Board of Commissioners,
including orientation programs for newly appointed members of the Board of Commissioners
2. Training and/or competence development activities attended by members of the Board of
Commissioners during the reporting year
e. Assessment on the performance of the Board of Directors and Board of Commissioners, and each
member of the Board of Directors and Board of Commissioners, at least covering:
1. Performance evaluation implementation procedure
2. Criteria used
3. The party conducting the assessment
f. Assessment on the performance of the committees that assist the execution of the duties of the Board of
Commissioners during the reporting year, at least covering:
1. Performance evaluation procedure
2. Criteria used.
4. The nomination and remuneration of the Board of Directors and the Board of Commissioners shall at least Not Applicable
cover:
a. The nomination procedure
b. Procedure and implementation of the Board of Directors and Board of Commissioners remuneration,
among others:
1. Procedures to determine the remuneration of the Board of Directors and Board of Commissioners
2. The structure of the Board of Directors’ and Board of Commissioners’ remuneraton
3. Total remuneration of each member of the Board of Directors and Board of Commissioners.
5. Sharia Supervisory Board, for Issuers or Public Companies that conduct business based on the shara
principles, as stipulated in the articles of association, at least containing disclosing:
a. Name
b. Legal basis for the appointment of the Sharia Supervisory Board
c. The term of office of the Sharia Supervisory Board
d. Duties and responsibilities of the Sharia Supervisory Board
e. Frequency and mechanism for providing advice and recommendations, as well as the supervision on the
Issuer’s or Public Company’s fulfillment of the sharia principles in the capital market.
6. Audit Committee, covering at least: 60-62
a. Name and position in the Committee
b. Age
c. Citizenship
d. Education background
e. Employment history, including:
1. Legal basis for the appointment as member of the Committee
2. Concurrent positions, either as a member of Board of Commissioners, a member of Board of Directors,
and/or a member of committees and other positions (if any)
3. Working experience and terms of office in and outside of the Issuer or Public Company
f. Period and terms of office as member of the Audit Committee
g. Statement of independence of the Audit Committee
h. Training and/or competence development attended in the reporting year
i. Policies and frequency of the Audit Committee meetings and the attendance record of members of the
Audit Committee in these meetings
j. Audit Committee’s activities in the reporting year as stipulated in the Audit Committee charter.
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7. Nomination and Remuneration Committee or function, covering at least: 63
a. Name and position in the Committee/function
b. Age
c. Citizenship
d. Education background
e. Employment history, including:
1. Legal basis for the appointment as member of the Committee/function
2. Concurrent positions, either as a member of Board of Commissioners, a member of Board of Directors,
and/or a member of committees and other positions (if any)
3. Working experience and terms of office in and outside of the Issuer or Public Company
f. Period and terms of office as a member of the Committee/function
g. Statement of independence of the Committee/function
h. Training and/or competence development attended in the reporting year
i. Duties and responsibilities
j. A statement that the Committee/function has a Commitee charter
k. Policies and frequency of meetings and members’ attendance record in these meetings
l. Activities in the reporting year
m. In the event that the Nomination and Remuneration Committee is not formed, disclose:
1. Reasons for not forming the Committee
2. Parties executing the nomination and remuneration function.
8. Other Committees to support the function and duties of the Board of Directors and/or the Board of 64
Commissioners, covering at least:
a. Name and position in the Committee
b. Age
c. Citizenship
d. Education background
e. Employment history, including:
1. Legal basis for the appointment as member of the Committee
2. Concurrent positions, either as a member of Board of Commissioners, a member of Board of Directors,
and/or a member of committees and other positions (if any)
3. Working experience and terms of office in and outside of the Issuer or Public Company
f. Period and terms of office as a member of the Committee
g. Statement of Independence of the Committee
h. Training and/or competence development attended in the reporting year
i. Duties and responsibilities
j. A statement that the Committee has a Committee charter
k. Policies and frequency of Committee meetings and members’ attendance record in these meetings
l. Activities of the Committee in the reporting year.
9. Corporate Secretary, covering at least: 65
a. Name
b. Domicile
c. Employment history, including:
1. Legal basis for the appointment as Corporate Secretary
2. Working experience and terms of office within and outside of the Issuer or Public Company
d. Education background
e. Training and/or competence development attended in the reporting year
f. Implementation of duties of the Corporate Secretary in the reporting year.
10. Internal Audit unit, covering at least: 66-67
a. Name
b. Employment history, including:
1. Legal basis for the appointment as Head of the Internal Audit unit
2. Working experience and terms of office in and outside of the Issuer or Public Company
c. Qualifications or Certifications related to the internal audit profession (if any)
d. Training and/or competence development attended in the reporting year
e. Structure and position of the Internal Audit Unit
f. Duties and responsibilities
g. A statement that the Internal Audit unit has a charter
h. Implementation of duties of the Internal Audit unit in the reporting year.
11. Description on the internal control system implemented, covering at least: 72
a. Financial and operational control, and compliance with other prevailing regulations
b. Review on the effectiveness of the internal control system
c. Statement of the Board of Directors and/or Board of Commissioners on the adequacy of the internal
control system.
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12. Risk management system implemented covering at least: 70-71
a. Overview of the risk management system
b. Types of risk and risk mitigation measures
c. Review on the effectiveness of the risk management system applied by the Issuer or Public Company
d. Statement of the Board of Directors and/or Board of Commissioners or Audit Committee on the adequacy
of the risk management system.
13. Legal cases with material impact faced by the Issuer or Public Company, its subsidiaries members of the 74
Board of Directors and Board of Commissioners (if any), covering at least:
a. Substance of the case/claim
b. Case/claim status
c. Impact on the condition of the Issuer or Public Company.
14. Information on administrative sanctions imposed to the Issuer or Public Company, members of the Board of 74
Directors and the Board of Commissioners, by the Capital Market Authority or other authorities during the
reporting year (if any).
15. Information on the company’s code of conduct, including: 74
a. Key points of the code of conduct
b. Socialization and enforcement of the code of conduct
c. Statement that the code of conduct applies to members of the Board of Directors, the Board of
Commissioners, and employees of the Issuer or Public Company.
16. Description of the long-term performance-based compensation policy for management and/or employees,
including the management stock ownership program (MSOP) and/or the employee stock ownership
program (ESOP).
The information disclosed at least contains:
a. Number of shares and/or options
b. Implementation period
c. Requirements for eligible employee and/or management
d. Exercise price or determination of exercise price.
17. Description of the information disclosure policy regarding:
a. Share ownership of members of the Board of Directors and members of the Board of Commissioners no
later than three working days after the occurrence of ownership or any change in the ownership of the
Public Company’s shares
b. Implementation of the policy.
18. Description of the whistleblowing system, covering at least: 73
a. Violation reporting mechanism
b. Whistleblower protection
c. Report handling
d. The unit was responsible for report handling
e. Results of the report handling, covering at least
1. Number of complaints received and processed during the reporting year
2. Follow up of complaints.
19. Description of the anti-corruption policy, covering at least: 73
a. Programs and procedures implemented to address corrupt practices, kickbacks, bribery and/or
gratification
b. Employee anti-corruption training/socialization.
20. Implementation of the corporate governance guidelines for public companies for Issuers issuing equity- 74
based securities, covering:
a. Statement regarding the recommendations that have been implemented and/or
b. Description of recommendations that have not been implemented, along with the reasons and
alternative measures (if any).
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h. Corporate Social and Environmental Responsibility presented in
1. In the event that the Sustainability Report is presented separately from the Annual Report, then the the discussion
social and environmental responsibility section contains information that reports regarding social and of the
environmental responsibility have been disclosed in the Sustainability Report which is presented separately Sustainability
from the Annual Report. Report pages
78-149
As referred to in the Financial Services Authority Regulation Number 51/POJK.03/2017 concerning the
Implementation of Sustainable Finance for Financial Services Institutions, Issuers, and Public Companies, at
least contains:
a. Explanation of the sustainability strategy;
b. Overview of sustainability aspects (economic, social, and environmental);
c. Brief profile of the Issuer or Public Company;
d. Explanation of the Board of Directors;
e. Sustainability governance
f. Sustainability performance
g. Written verification from independent parties, if any;
h. Feedback sheet for readers, if any; and
i. Issuer's or Public Company's response to previous year's report feedback;
2. The Sustainability Report presented separately from the Annual Report is to be submitted together with the
submission of the Annual Report.
3. The Sustainability Report information in point 1) may:
a. Disclosed in other relevant sections outside the social and environmental responsibility section, such as
the explanation of the Board of Directors regarding the Sustainability Report disclosed in the relevant
section of the Board of Directors' Report; and/or
b. Refer to other sections outside the social and environmental responsibility section while still referring to
the Technical Guidelines for the Preparation of Sustainability Report for Issuers and Public Companies as
set out in Appendix II which is an integral part of this Circular Letter of the Financial Services Authority,
such as the profile of the Issuer or Public Company;
4. The Sustainability Report as referred to in point 1) is an integral part of the Annual Report but may be
presented separately with the Annual Report;
5. In the event that the Sustainability Report is presented separately from the Annual Report, the information
disclosed in the Sustainability Report must:
a. Contain all information as referred to in point 1); and
b. Be prepared in accordance with the Technical Guidelines for the Preparation of Sustainability Report for
Issuers and Public Companies as set out in Appendix II which is an integral part of this Circular Letter of
the Financial Services Authority;
6. In terms of the Sustainability Report presented separately from the Annual Report, the social and
environmental responsibility section shall contain information that information on social and environmental
responsibility has been disclosed in the Sustainability Report presented separately from the Annual Report;
and
7. Submission of the Sustainability Report that is presented separately from the Annual Report must be
submitted together with the submission of the Annual Report.
i. Audited Annual Financial Statement 150-end of
The financial statements included in the Annual Report are prepared in accordance with the Financial this report
Accounting Standards in Indonesia and audited by a public accountant registered with the Financial Services
Authority. The Financial Report contains a statement regarding the accountability for financial reports as
regulated in the POJK concerning the Responsibilities of the Board of Directors on the Financial Report or the
laws and regulations in the capital market sector that govern periodic reports of securities companies in the
event that the Issuer is a securities company.
J. Letter of statement of Members of the Board of Directors and Board of Commissioners regarding the 131
responsibility for the Annual Report.
The statement letter of members of the Board of Directors and members of the Board of Commissioners
regarding responsibility for the Annual Report is prepared in accordance with the format of the Statement Letter
of Members of the Board of Directors and Members of the Board of Commissioners regarding Responsibility
for the Annual Report as set out in the Appendix which is an integral part of this Circular Letter of the Financial
Services Authority.
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POJK 51
Reference Index [OJK G.4]
No. Index Name Index Page
Sustainability Strategy
A.1 Explanation on Sustainability Strategies 84
Overview of Sustainability Aspects Performance
B.1 Economy Aspects 6
B.2 Environmental Aspects 6
B.3 Social Aspects 6
Company Profile
C.1 Vission, Mission, Sustainable Values 39
C.2 Company Address 50
C.3 Business Scale: 46, 50,
a. Total assets or assets capitalizationm and total liabilities; 113
b. Total employee based on gender, position, age, education and employment status;
c. Percentage of share ownership; and
d. Operational area.
C.4 Product, Service and Business Activities 30
C.5 Member Association 51
C.6 Significant Changes None
Director Explanation
D.1 Director Explanation 16
Sustainable Corporate Governance
E.1 Person in Charge Responsibility for Sustainable Finance 90
E.2 Sustainable Finance Competency Development 92
E.3 Sustainable Finance Risk Assessment Implementation 94
E.4 Stakeholders Relations 96
E.5 Sustainable Finance Implementation Problems 97
Sustainable Performance
F.1 The Activities of Building a Culture of Sustainability 39
Economic Performance
F.2 Comparison of Production Targets and Performance, Portfolio, Financial Targets, or Investment, 99
Revenue and Profit
F.3 Comparison of Portfolio Targets and Performance, Financing Targets, or Investments in Financial 99
Instruments or Projects in Line With the Implementation of Sustainable Finance
Environmental Performance
F.4 Environment Cost Incurred 112
Material Aspect
F.5 Use of Environmentally Friendly Materials 107
Energy Aspect
F.6 The Amount and Intensity of Energy Used 108
F.7 Efforts and Achievement of Energy Efficiency Including Use of Renewable Energy Sources 107
PT Medco Power Indonesia 145 2024 Annual & Sustainability Report
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Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
No. Index Name Index Page
Water Aspect
F.8 Water Used 110
Biodiversity Aspect
F.9 Impacts from Operational Areas Close to or in Conservation Areas or Having Biodiversity 111
F.10 Biodiversity Conservation Efforts 111
Emission Aspect
F.11 The Amount and Intensity of Emissions Produced by Type 108, 109
F.12 Efforts and Achievement Emission Reduction Carried Out 108
Waste and Effluent Aspect
F.13 The Amount of Waste and Effluent Produced by Type 109
F.14 Mechanism of Waste and Effluent Management 110
F.15 Spills that Occur (if any) 110
Environmental Complaint Aspect
F.16 The Amount and Material of Environmental Complaints Received and Resolved 112
Social Aspect
F.17 Commitment to Provide Services for Equivalent Products and/or Services to Consumers 98
Employment Aspect
F.18 Equality of Employment Opportunities 115
F.19 Child Labor and Forced Labor 116
F.20 The Regional Minimum Wage 115
F.21 Decent and Safe Working Environment 116
F.22 Training and Capacity Building of Employees 119
Society Aspect
F.23 Operational Impacts to the Surrounding Community 127
F.24 Public Complaints 128
F.25 Environmental and Social Responsibility Activities 128
Responsibilities for Developing Sustainable Products/Services
F.26 Innovation and Development of Sustainable Financial Products and/or Services 102, 105
F.27 Products/Services that have been Evaluated for Safety for Customers 105
F.28 Products/Service Impacts 105
F.29 Number of Products Recalled 105
F.30 Customer Satisfaction Survey of Sustainable Finance and/or Services None
Lain-lain
G.1 Written Verification from an Independent Party (if any) 78
G.2 Feedback Form 149
G.3 Feedback on Previous Year’s Sustainability Report 78
G.4 Disclosure List Based on POJK No.51/POJK.03/2017 regarding the Implementation of Sustainable 145
Finance for Financial Services Institutions, Listed Companies and Public Companies
PT Medco Power Indonesia 146 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
GRI Content Index –
With Reference
Statement of use PT Medco Power Indonesia has reported the information cited in this GRI content index
for the period January 1st-December 31st 2024 with reference to the GRI Standards.
GRI 1 used GRI 1: Foundation 2021
GRI Standard Disclosure Page
GRI 2 2-1 Organization Details 2, 50
2-2 Entities Included in the Consolidated Financial Statement 78
2-3 Reporting Period, Frequency and Contact Point 78
2-4 Restatement of Information 78
2-5 External Assurance 78
2-6 Activities, Value Chain and Other Business Relationships 30, 50
2-7 Employees 113
2-8 Workers Who Are Not Employees 113
2-9 Governance Structure and Composition 54
2-12 Role of the Highest Governance Body in Overseeing the Management of Impacts 90
2-13 Delegation of Responsibility for Managing Impacts 90
2-14 Role of the Highest Governance Body in Sustainability Reporting 90
2-16 Communication of Critical Concern 73
2-17 Collective Knowledge of the Highest Governance Body 92
2-18 Evaluation of the Performance of the Highest Governance Body 59
2-22 Statement on Sustainable Development Strategy 16
2-23 Policy Commitments 84
2-24 Embedding Policy Commitments 84
2-25 Processes to Remediate Negative Impacts 94
2-26 Mechanism for Seeking Advice and Raising Concern 73
2-28 Membership Associations 51
2-29 Approach to Stakeholder Engagement 96
2-30 Collective Bargaining Agreements 115
GRI 3 3-1 Process to Determine Material Topics 79
3-2 List of Material Topics 79
Economic
GRI 3 3-3 Management of Material Topics 98
GRI 201 201-1 Direct Economic Value Generated and Distributed 98
Economic
Performance 201-2 Financial Implications and Other Risk and Opportunities Due to Climate Change 100
201-3 Defined Benefit Plan Obligations And other Retirement Plans 99
201-4 Financial Assistance Received From Government 98
GRI 3 3-3 Management of Material Topics 101
GRI 204 204-1 Proportion of Spending on Local Suppliers 101
Procurement
Practices
PT Medco Power Indonesia 147 2024 Annual & Sustainability Report
Page 150
Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile
GRI Standard Disclosure Page
Environment
GRI 3 3-3 Management of Material Topics 107
GRI 302 302-1 Energy Consumption Within the Organization 108
Energy
302-3 Energy Intensity 108
GRI 3 3-3 Management of Material Topics 110
GRI 303 303-1 Interactions With Water As A Shared Resource 110
Water and
Effluents 303-3 Water Withdrawal 110
GRI 3 3-3 Management of Material Topics 111
GRI 304 304-1 Operational Sites Owned, Leased, Managed In, or Adjacent to, Protected Areas and Areas of 111
Biodiversity High Biodiversity Value Outside Protected Areas
304-2 Significant Impacts of Activities, Products, and Services on Biodiversity 111
GRI 3 3-3 Management of Material Topics 108
GRI 305 305-1 Direct GHG Emissions (Scope1) 108
Emission
305-2 Energy Indirect (Scope 2) GHG Emmisions 108
305-3 Other Indirect (Scope 3) GHG Emmisions 108
305-4 GHG Emissions Intensity 109
305-7 Nitrogen Oxides (NOX), Sulfur Oxides (SOX), and Other Significant Air Emissions 109
GRI 3 3-3 Management of Material Topics 109
GRI 306 306-2 Management of Significant Waste-related Impacts 110
Waste
Social
GRI 3 3-3 Management of Material Topics 117
GRI 401 401-1 New Employee Hires and Employee Turnover 117
Employment
2016 401-2 Benefits Provided to Full-time Employees That Are Not Provided to Temporary or Part-Time 115
Employees
GRI 3 3-3 Management of Material Topics 121
GRI 403 403-1 Occupational Health and Safety Management System 122
Occupational
Health and Safety 403-2 Hazard Identification, Risk Assessment, and Incident Investigation 123
403-3 Occupational Health Services 124
403-4 Worker Participation, Consultation, and Communication on Occupational Health and Safety 125
403-5 Worker Training On Occupational Health and Safety 125
403-6 Promotion of Worker Health 124
403-8 Workers Covered by an Occupational Health and Safety Management System 122
403-9 Work-related Injuries 126
403-10 Work-related Ill Health 123
GRI 3 3-3 Management of Material Topics
GRI 404 404-1 Average Hours of Training Per Year Per Employee 119
Training &
Education 404-2 Programs for Upgrading Employee Skills and Transition Assistance Programs 119
GRI 3 3-3 Management of Material Topics 127
GRI 413 413-1 Operations with Local Community Engagement, Impact Assessments, and Development 128
Local Community Programs
413-2 Operations with Significant Actual and Potential Negative Impacts On Local Communities 127
PT Medco Power Indonesia 148 2024 Annual & Sustainability Report
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Corporate Governance Sustainability Report Attachments
Feedback
Form [OJK G.2]
Please tick the Box for the stakeholder group that best describes you:
Employee Regulator Others: ___________________
Contractor/Sub-contractor/Vendor/Supplier NGO
Customer Media
Investor / Financial Analyst / Shareholders Student / Academics
Please rate the report for:
(1 being POOR up to 5 being EXCELLENT)
Parameter 1 2 3 4 5
Meeting your information needs
Content completeness
Transparency
Clarity and easy to understand
Ease in finding information
Overall Report
Does the report address your main concerns about our sustainability performance?
Please elaborate:
How could we improve this report in the future
Please send this feedback sheet to:
PT Medco Power Indonesia
Attn: Corporate Secretary, Email: corsec.mpi@medcoenergi.com
The Energy Building 8th floor, SCBD Lot 11A
Jl. Jend. Sudirman, Kav. 52-53, Jakarta 12190, Indonesia
T: 021-2995 3300, F: 021-2995 3301
www.medcoenergi.co.id
== THANK YOU ==
PT Medco Power Indonesia 149 2024 Annual & Sustainability Report
Page 152
Page 153
PT Medco Power Indonesia dan Entitas Anaknya/ and its Subsidiaries Laporan keuangan konsolidasian tanggal 31 Desember 2024 serta untuk tahun yang berakhir pada tanggal tersebut beserta laporan auditor independen/ Consolidated financial statements as of December 31, 2024 and for the year then ended with independent auditor's report
Page 154
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENTS OF FINANCIAL
TANGGAL 31 DESEMBER 2024 POSITION
SERTA UNTUK TAHUN YANG BERAKHIR AS OF DECEMBER 31, 2024
PADA TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
BESERTA LAPORAN AUDITOR INDEPENDEN WITH INDEPENDENT AUDITOR’S REPORT
Daftar Isi Table of Contents
Halaman/
Page
Surat Pernyataan Direksi Statement Letter of Board of Directors
Laporan Auditor Independen Independent Auditor’s Report
Laporan Posisi Keuangan Konsolidasian 1-3 Consolidated Statements of Financial Position
Laporan Laba Rugi dan Penghasilan Consolidated Statements of Profit or Loss and
Komprehensif Lain Konsolidasian 4-5 Other Comprehensive Income
Consolidated Statements of Changes in
Laporan Perubahan Ekuitas Konsolidasian 6 Equity
Laporan Arus Kas Konsolidasian 7-8 Consolidated Statements of Cash Flows
Catatan Atas Laporan Keuangan Notes to the Consolidated Financial
Konsolidasian 9 - 152 Statements
Page 155
Page 156
Page 157
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen Independent Audit or’s Report
Laporan No. 00507/ 2.1032/ AU.1/ 02/ 0696- Report No. 00507/ 2.1032/ AU.1/ 02/ 0696-
1/ 1/ III/ 2025 1/ 1/ III/ 2025
Pemegang Saham, Dewan Komisaris, dan Dir eksi The Shareholders and t he Boards of
PT Medco Power Indonesia Commissioners and Direct ors
PT Medco Power Indonesia
Opini Opinion
Kami telah mengaudit laporan keuangan We have audited the accompanying consolidated
konsolidasian PT Medco Power Indonesia financial statements of PT Medco Power Indonesia
(“ Perusahaan” ) dan entitas anaknya (the “ Company” ) and it s subsidiaries
(secara kolektif disebut sebagai “ Grup” ) terlampir, (collectively referred to as the “ Group” ), which
yang terdiri dari laporan posisi keuangan comprise the consolidated statement of financial
konsolidasian tanggal 31 Desember 2024, serta position as of December 31, 2024, and the
laporan laba rugi dan penghasilan komprehensif consolidated statement of profit or loss and other
lain konsolidasian, laporan perubahan ekuitas comprehensive income, consolidated statement of
konsolidasian, dan laporan arus kas konsolidasian changes in equity, and consolidated statement of
untuk tahun yang berakhir pada tanggal tersebut, cash flows for the year then ended, and notes to
serta catatan atas laporan keuangan the consolidated financial statements, including
konsolidasian, termasuk informasi kebijakan material accounting policy information.
akuntansi material.
Menurut opini kami, laporan keuangan In our opinion, the accompanying consolidated
konsolidasian terlampir menyajikan secara wajar, financial statements present fairly, in all material
dalam semua hal yang material, posisi keuangan respect s, the consolidated financial position of the
konsolidasian Grup tanggal 31 Desember 2024, Group as of December 31, 2024, and its
sert a kinerja keuangan dan arus kas consolidated financial performance and cash flows
konsolidasiannya untuk tahun yang berakhir pada for the year then ended, in accordance with
tanggal tersebut, sesuai dengan Standar Indonesian Financial Accounting Standards.
Akuntansi Keuangan di Indonesia.
i
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The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00507/ 2.1032/ AU.1/ 02/ 0696- Report No. 00507/ 2.1032/ AU.1/ 02/ 0696-
1/ 1/ III/ 2025 (lanjutan) 1/ 1/ III/ 2025 (continued)
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 (“ IICPA” ). Our responsibilities under those
diuraikan lebih lanjut dalam paragraf Tanggung standards are further described in the Auditor’s
Jawab Auditor terhadap Audit atas Laporan Responsibilities for the Audit of the Consolidated
Keuangan Konsolidasian pada laporan kami. Financial Statements paragraph of our report .
Kami independen terhadap Grup berdasarkan We are independent of the Group in accordance
ketentuan etika yang relevan dalam audit kami with the ethical requirements relevant to our
atas laporan keuangan konsolidasian di Indonesia, audit of the consolidated financial statements
dan kami telah memenuhi tanggung jawab etika in Indonesia, and we have fulfilled our other
lainnya berdasarkan ketentuan tersebut. Kami ethical responsibilities in accordance with such
yakin bahwa bukti audit yang telah kami peroleh requirements. We believe that the audit evidence
adalah cukup dan tepat untuk menyediakan suat u we have obtained is sufficient and appropriate to
basis bagi opini kami. provide a basis for our opinion.
Hal audit ut ama Key audit mat t ers
Hal audit utama adalah hal-hal yang, menurut Key audit matt ers are those mat ters 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 consolidated financial statements
laporan keuangan konsolidasian periode kini. Hal of the current period. Such key audit matters were
audit utama tersebut disampaikan dalam konteks addressed in the context of our audit of the
audit kami atas laporan keuangan konsolidasian consolidated financial statements taken as a whole,
secara keseluruhan, dan dalam merumuskan opini and in forming our opinion t hereon, and we do not
kami atas laporan keuangan konsolidasian terkait , provide a separate opinion on such key audit
dan kami tidak menyatakan suatu opini terpisah matters. For the key audit matter below, our
atas hal audit utama tersebut. Untuk hal audit description of how our audit addressed such key
utama di bawah ini, penjelasan kami tentang audit matters is provided in such context.
bagaimana audit kami merespons hal tersebut
disampaikan dalam konteks tersebut.
ii
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The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00507/ 2.1032/ AU.1/ 02/ 0696- Report No. 00507/ 2.1032/ AU.1/ 02/ 0696-
1/ 1/ III/ 2025 (lanjutan) 1/ 1/ III/ 2025 (continued)
Hal audit Ut ama (lanjut an) Key audit mat t ers (cont inued)
Kami telah memenuhi tanggung jawab yang We have fulfilled the responsibilities described in
diuraikan dalam paragraf Tanggung Jawab the Auditor’s Responsibilities for the Audit of the
Auditor terhadap Audit atas Laporan Keuangan Consolidated Financial Statement s paragraph of
Konsolidasian pada laporan kami, termasuk our report, including in relation to the key audit
sehubungan dengan hal-hal audit utama yang matters communicated below. Accordingly, our
dikomunikasikan di bawah ini. Oleh karena itu, audit included the performance of procedures
audit kami mencakup pelaksanaan prosedur yang designed to respond to our assessment of the risks
didesain untuk merespons penilaian kami atas of material misstatement of the accompanying
risiko kesalahan penyajian material dalam laporan consolidated financial statements. The results of
keuangan konsolidasian terlampir. Hasil prosedur our audit procedures, including the procedures
audit kami, termasuk prosedur yang dilakukan performed to address the key audit matter
untuk merespons hal audit utama di bawah ini, below, provide the basis for our opinion on the
menyediakan basis bagi opini kami atas laporan accompanying consolidated financial statements.
keuangan konsolidasian terlampir.
Evaluasi Penurunan Nilai Investasi pada Entitas Evaluation of Impairment on Investment in an
Asosiasi Associate
Penjelasan atas hal audit utama: Description of the key audit matter:
Sebagaimana diungkapkan dalam Catatan 15 As disclosed in Note 15 to the accompanying
laporan keuangan konsolidasian terlampir, Grup consolidated financial statements, the Group has
memiliki investasi pada entitas asosiasi, investment in an associate, PT Medco Geopower
PT Medco Geopower Sarulla, dengan nilai tercatat Sarulla, with a carrying value of Rp2.39 trillion as
sebesar Rp2,39 triliun pada tanggal 31 Desember of December 31, 2024. The evaluation of
2024. Evaluasi atas penurunan nilai investasi impairment on investment in such associate is a key
pada entitas asosiasi tersebut merupakan hal audit matter for us because such evaluation
audit utama bagi kami karena evaluasi tersebut requires the exercise of significant management
memerlukan penerapan pertimbangan dan judgment and estimates in determining the
estimasi manajemen yang signifikan dalam recoverable amount which includes the use of
menentukan jumlah terpulihkan yang mencakup assumptions that are subject to high level of
penggunaan asumsi yang bergantung pada estimation uncertainty, particularly on electricit y
tingkat ketidakpastian estimasi yang tinggi, tariff, operating costs and discount rate.
khususnya tarif listrik, biaya operasi dan tingkat
diskonto.
iii
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The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00507/ 2.1032/ AU.1/ 02/ 0696- Report No. 00507/ 2.1032/ AU.1/ 02/ 0696-
1/ 1/ III/ 2025 (lanjutan) 1/ 1/ III/ 2025 (continued)
Hal audit Ut ama (lanjut an) Key audit mat t ers (cont inued)
Evaluasi Penurunan Nilai Investasi pada Entitas Evaluation of Impairment on Investment in an
Asosiasi (lanjutan) Associate (continued)
Respons audit: Audit response:
Kami memeroleh dan melakukan penilaian We obtained and assessed the impairment
indikator penurunan nilai yang dilakukan oleh indicators assessment performed by the
manajemen. Kami mengevaluasi asumsi utama management. We evaluated key assumptions used
yang digunakan oleh manajemen dalam by the management in the determination of
penentuan jumlah terpulihkan. Asumsi utama recoverable amount. The key assumptions include
termasuk tarif listrik, biaya operasi dan tingkat electricit y tariff, operating costs and discount rate.
diskonto. Kami membandingkan tarif listrik We compared the electricity tariff against the
dengan tarif yang tercantum dalam perjanjian jual tariff stated in the power purchase agreement .
beli listrik. Kami membandingkan asumsi biaya We compared operating costs assumptions against
operasi dengan kinerja aktual historis dengan the historical actual performance taking into
mempertimbangkan proyeksi inflasi. Kami account the projected inflation. We involved our
melibat kan pakar spesialis auditor kami untuk auditor’s expert to test the assumptions used in the
menguji asumsi yang digunakan dalam penentuan determination of the discount rate against market
tingkat diskonto terhadap data pasar. Kami juga data. We also assessed the adequacy of the
menilai kecukupan pengungkapan dalam Catatan disclosures in Note 15 to the consolidated financial
15 atas laporan keuangan konsolidasian. statements.
Informasi lain Ot her informat ion
Manajemen bertanggung jawab atas informasi Management is responsible for the other
lain. Informasi lain terdiri dari informasi yang information. Other information comprises the
tercantum dalam Laporan Tahunan 2024 information included in the 2024 Annual
(“ Laporan Tahunan” ) selain laporan keuangan Report (“ The Annual Report” ) other than the
konsolidasian terlampir dan laporan audit or accompanying consolidated financial statements
independen kami. Laporan Tahunan diharapkan and our independent auditor’s report thereon. The
akan tersedia bagi kami setelah tanggal laporan Annual Report is expected to be made available to
auditor independen ini. us after the date of this independent auditor’s
report.
Opini kami atas laporan keuangan konsolidasian Our opinion on the accompanying consolidated
terlampir tidak mencakup Laporan Tahunan, dan financial statements does not cover the Annual
oleh karena itu, kami tidak menyatakan bentuk Report, and accordingly, we do not express any
keyakinan apapun atas Laporan Tahunan form of assurance on the Annual Report .
tersebut.
iv
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The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00507/ 2.1032/ AU.1/ 02/ 0696- Report No. 00507/ 2.1032/ AU.1/ 02/ 0696-
1/ 1/ III/ 2025 (lanjutan) 1/ 1/ III/ 2025 (continued)
Informasi lain (lanjut an) Ot her informat ion (cont inued)
Sehubungan dengan audit kami atas laporan In connection with our audit of the accompanying
keuangan konsolidasian terlampir, tanggung consolidated financial statements, our
jawab kami adalah untuk membaca responsibility is to read the Annual Report when it
Laporan Tahunan ketika tersedia dan, becomes available and, in doing so, consider
dalam melaksanakannya, mempertimbangkan whether the Annual Report is materially
apakah Laporan Tahunan mengandung inconsistent with the accompanying consolidated
ketidakkonsistensian material dengan laporan financial statements or our knowledge obtained in
keuangan konsolidasian terlampir atau the audit, or otherwise appears to be materially
pemahaman yang kami peroleh selama audit, misstated.
atau mengandung kesalahan penyajian material.
Ketika kami membaca Laporan Tahunan, jika When we read the Annual Report , if we conclude
kami menyimpulkan bahwa terdapat suatu that there is a material misstatement therein, we
kesalahan penyajian material di dalamnya, kami are required to communicate the matter to those
diharuskan untuk mengomunikasikan hal charged with governance and take appropriate
tersebut kepada pihak yang bertanggung jawab actions based on the applicable laws and
atas tata kelola dan melakukan tindakan yang regulations.
tepat berdasarkan peraturan perundang-
undangan yang berlaku.
Tanggung jawab manajemen dan pihak yang Responsibilit ies of management and t hose
bert anggung jawab at as t at a kelola t erhadap charged wit h governance for t he consolidat ed
laporan keuangan konsolidasian financial st at ement s
Manajemen bertanggung jawab atas penyusunan Management is responsible for the preparation and
dan penyajian wajar laporan keuangan fair presentation of the consolidated financial
konsolidasian tersebut sesuai dengan Standar statements in accordance with Indonesian Financial
Akuntansi Keuangan di Indonesia, dan atas Accounting Standards, and for such internal
pengendalian internal yang dianggap perlu oleh control as management determines is necessary
manajemen untuk memungkinkan penyusunan to enable the preparation of consolidated
laporan keuangan konsolidasian yang bebas dari financial statements that are free from material
kesalahan penyajian material, baik yang misstatement, whether due to fraud or error.
disebabkan oleh kecurangan maupun kesalahan.
v
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The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00507/ 2.1032/ AU.1/ 02/ 0696- Report No. 00507/ 2.1032/ AU.1/ 02/ 0696-
1/ 1/ III/ 2025 (lanjutan) 1/ 1/ III/ 2025 (continued)
Tanggung jawab manajemen dan pihak yang Responsibilit ies of management and t hose
bert anggung jawab at as t at a kelola t erhadap charged wit h governance for t he consolidat ed
laporan keuangan konsolidasian (lanjut an) financial st at ement s (cont inued)
Dalam penyusunan laporan keuangan In preparing the consolidated financial statements,
konsolidasian, manajemen bertanggung jawab management is responsible for assessing the
untuk menilai kemampuan Grup dalam Group’s abilit y to continue as a going concern,
mempertahankan kelangsungan usahanya, disclosing, as applicable, matters related to going
mengungkapkan, sesuai dengan kondisinya, hal- concern, and using the going concern basis of
hal yang berkaitan dengan kelangsungan usaha, accounting, unless management either intends to
dan menggunakan basis akuntansi kelangsungan liquidate the Group or to cease its operations, or
usaha, kecuali manajemen memiliki intensi untuk has no realistic alternative but to do so.
melikuidasi Grup atau 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 Group’s financial reporting process.
pelaporan keuangan Grup.
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian consolidat ed financial st at ement s
Tujuan kami adalah untuk memeroleh keyakinan Our objectives are to obtain reasonable assurance
memadai tentang apakah laporan keuangan about whether the consolidated financial
konsolidasian secara keseluruhan bebas dari statements taken as a whole are free from material
kesalahan penyajian material, baik yang misstatement, whether due to fraud or error, and
disebabkan oleh kecurangan maupun kesalahan, to issue an independent auditor’s report that
dan untuk menerbitkan laporan auditor includes our opinion. Reasonable assurance is
independen yang mencakup opini kami. Keyakinan a high level of assurance, but is not a guarantee
memadai merupakan suatu tingkat keyakinan that an audit conducted in accordance with
tinggi, namun bukan merupakan suatu jaminan Standards on Auditing established by the IICPA will
bahwa audit yang dilaksanakan berdasarkan always detect a material misstatement when it
Standar Audit yang ditetapkan oleh IAPI akan exists. Misstatements can arise from fraud or error
selalu mendeteksi kesalahan penyajian material and are considered material if, individually or in the
ketika hal tersebut ada. Kesalahan penyajian aggregate, they could reasonably be expected to
dapat disebabkan oleh kecurangan maupun influence the economic decisions of users taken
kesalahan dan dianggap material jika, baik secara on the basis of these consolidated financial
individual maupun agregat , dapat diekspektasikan statements.
secara wajar akan memengaruhi keputusan
ekonomi yang diambil oleh pengguna berdasarkan
laporan keuangan konsolidasian tersebut.
vi
Page 163
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00507/ 2.1032/ AU.1/ 02/ 0696- Report No. 00507/ 2.1032/ AU.1/ 02/ 0696-
1/ 1/ III/ 2025 (lanjutan) 1/ 1/ III/ 2025 (continued)
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued)
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 consolidated financial
konsolidasian, baik yang disebabkan oleh statements, whether due to fraud or error,
kecurangan maupun kesalahan, mendesain design and perform audit procedures
dan melaksanakan prosedur audit yang responsive to such risks, and obtain audit
responsif terhadap risiko tersebut, serta evidence that is sufficient and appropriate to
memeroleh bukti audit yang cukup dan tepat provide a basis for our opinion. The risk of not
untuk menyediakan basis bagi opini kami. detecting a material misstatement resulting
Risiko tidak terdeteksinya suatu kesalahan from fraud is higher than for one resulting from
penyajian material yang disebabkan oleh error, as fraud may involve collusion, forgery,
kecurangan lebih tinggi dari yang disebabkan intentional omissions, misrepresentations, or
oleh kesalahan, karena kecurangan dapat override of internal control.
melibat kan kolusi, pemalsuan, penghilangan
secara sengaja, pernyataan salah, atau
pengabaian atas pengendalian internal.
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 Grup. the Group’s internal control.
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.
vii
Page 164
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00507/ 2.1032/ AU.1/ 02/ 0696- Report No. 00507/ 2.1032/ AU.1/ 02/ 0696-
1/ 1/ III/ 2025 (lanjutan) 1/ 1/ III/ 2025 (continued)
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued)
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)
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 exists
ketidakpastian material yang terkait dengan related to event s or conditions that may cast
peristiwa atau kondisi yang dapat significant doubt on the Group's abilit y to
menyebabkan keraguan signifikan atas continue as a going concern. If we conclude
kemampuan Grup untuk mempertahankan that a material uncertaint y exists, we are
kelangsungan usahanya. Ketika kami required to draw attention in our independent
menyimpulkan bahwa terdapat suatu auditor’s report to the related disclosures in
ketidakpastian material, kami diharuskan the consolidated financial statements or, if
untuk menarik perhatian dalam laporan such disclosures are inadequate, to modify our
auditor independen kami ke pengungkapan opinion. Our conclusion is based on the audit
terkait dalam laporan keuangan konsolidasian evidence obtained up to the date of our
atau, jika pengungkapan tersebut tidak independent auditor’s report. However, future
memadai, memodifikasi opini kami. events or conditions may cause the Group to
Kesimpulan kami didasarkan pada bukti audit cease to continue as a going concern.
yang diperoleh hingga tanggal laporan auditor
independen kami. Namun, peristiwa atau
kondisi masa depan dapat menyebabkan Grup
tidak dapat mempertahankan kelangsungan
usaha.
Mengevaluasi penyajian, st ruktur, dan isi Evaluate the overall presentation, structure,
laporan keuangan konsolidasian secara and content of the consolidated financial
keseluruhan, termasuk pengungkapannya, statements, including the disclosures, and
dan apakah laporan keuangan konsolidasian whether the consolidated financial statements
mencerminkan transaksi dan peristiwa yang represent the underlying transactions and
mendasarinya dengan suatu cara yang events in a manner that achieves fair
mencapai penyajian wajar. presentation.
viii
Page 165
The original report included herein is in the Indonesian
language.
Laporan Audit or Independen (lanjut an) Independent Audit or’s Report (cont inued)
Laporan No. 00507/ 2.1032/ AU.1/ 02/ 0696- Report No. 00507/ 2.1032/ AU.1/ 02/ 0696-
1/ 1/ III/ 2025 (lanjutan) 1/ 1/ III/ 2025 (continued)
Tanggung jawab audit or t erhadap audit at as Audit or’s responsibilit ies for t he audit of t he
laporan keuangan konsolidasian (lanjut an) consolidat ed financial st at ement s (cont inued)
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 bukti audit yang cukup dan tepat Obtain sufficient appropriate audit evidence
terkait informasi keuangan entitas atau regarding the financial information of the
aktivitas bisnis dalam Grup untuk menyatakan entities or business activities within the Group
opini atas laporan keuangan konsolidasian. to express an opinion on the consolidated
Kami bertanggung jawab atas arahan, financial statements. We are responsible for
supervisi, dan pelaksanaan audit grup. Kami the direction, supervision, and performance of
tetap bertanggung jawab sepenuhnya atas the group audit . We remain solely responsible
opini audit kami. for our audit opinion.
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 cont rol 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 with a statement that we have complied
kelola bahwa kami telah mematuhi ketentuan with relevant ethical requirements regarding
etika yang relevan mengenai independensi, dan independence, and to communicate with them
mengomunikasikan kepada pihak tersebut seluruh all relationships and other matters that
hubungan, serta hal-hal lain yang dianggap secara may reasonably be thought to bear on our
wajar berpengaruh terhadap independensi kami, independence, and where applicable, related
dan, jika relevan, pengamanan terkait. safeguards.
ix
Page 166
The original report included herein is in the Indonesian
language.
Laporan Auditor Independen (lanjuta~) Independent Auditor's Report (continued)
Laporan No. 00507/2.1032/AU.1/02/0696- Report No. 00507/2.1032/AU.1/02/0696-
1/1/III/2025 (lanjutan) 1/1/III/2025 (continued)
Tanggung jawab auditor terhadap audit atas Auditor's responsibilities for the audit of the
laporan keuangan konsolidasian (lanjutan) consolidated financial statements (continued)
Dari hal-hal yang dikomunikasikan kepada pihak From the matters communicated with those
yang bertanggung jawab atas tata kelola, kami charged with governance, we determine those
menentukan hal-hal tersebut yang paling matters that were of most significance in the audit
signifikan tlalam audit atas laporan keuangan of the consolidated financial statements of the
konsolidasian periode kini dan oleh karenanya current period and are therefore the key audit
menjadi hal audit utama. Kami menguraikan hal matters. We describe such key audit matters in our
audit utama tersebut dalam laporan auditor independent auditor's report unless laws or
independen kami kecuali peraturan perundang- regulations preclude public disclosure about such
undangan melarang pengungkapan publik tentang key audit matters or when, in extremely rare
hal audit utama tersebut atau ketika, dalam circumstances, we determine that a key audit
kondisi yang sangat jarang terjadi, kami matter should not be communicated in our
menentukan bahwa suatu hal audit utama tidak independent auditor's report because the adverse
boleh dikomunikasikan dalam laporan auditor consequences of doing so would reasonably be
independen kami karena konsekuensi yang expected to outweigh the public interest benefits of
merugikan dari mengomunikasikan hal tersebut such communication.
akan diekspektasikan secara wajar melebihi
manfaat kepentingan publik atas komunikasi
tersebut.
KAP Purwantono, Sungkoro & Surja
Indrajuwana Komala Widjaja
Registrasi Akuntan Publik No. AP.0696/Public Accountant Registration No. AP. 0696
28 Maret 2025/March 28, 2025
Page 167
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENTS OF FINANCIAL
Tanggal 31 Desember 2024 POSITION
(Disajikan dalam Rupiah, As of December 31, 2024
Kecuali Dinyatakan Lain) (Expressed in Rupiah,
Unless Otherwise Stated)
Catatan/
2024 Notes 2023
ASET ASSETS
ASET LANCAR CURRENT ASSETS
Kas dan setara kas 1.692.790.572.715 2,4 1.951.362.812.125 Cash and cash equivalents
Piutang usaha 2 Trade receivables
Pihak ketiga 467.911.859.194 6 266.224.474.000 Third parties
Pihak berelasi 30.124.429.334 8b 35.502.412.402 Related parties
Aset kontrak 65.572.044.236 6 13.877.394.327 Contract asset
Piutang sewa pembiayaan 223.035.633.301 2,11 308.865.940.807 Finance lease receivables
Piutang lain-lain 2 Other receivables
Pihak ketiga - neto 48.589.301.644 7 53.789.830.780 Third parties - net
Pihak berelasi 138.320.167.518 8c 95.849.397.075 Related parties
Persediaan 99.816.908.288 2,9 99.921.638.251 Inventories
Rekening bank dan deposito
berjangka yang dibatasi Restricted cash in banks and time
penggunaannya 37.179.190.359 2,5 48.158.306.341 deposit
Pajak dibayar di muka 5.803.515.464 2,10 3.084.971.143 Prepaid taxes
Beban dibayar di muka dan uang
muka 241.033.084.893 2,12 212.105.729.797 Prepaid expenses and advances
Estimasi pengembalian pajak 28.711.358.216 2,23f 53.911.801.934 Estimated claim for tax refund
Aset derivatif 30.282.826.190 2,27 27.392.277.405 Derivative assets
Aset keuangan konsesi 539.544.723.798 2,13 506.157.486.367 Concession financial assets
Aset lancar lainnya 19.433.654.598 20 44.028.423.122 Other current assets
TOTAL ASET LANCAR 3.668.149.269.748 3.720.232.895.876 TOTAL CURRENT ASSETS
ASET TIDAK LANCAR NON-CURRENT ASSETS
Aset keuangan konsesi - Concession financial assets - net
neto porsi jangka pendek 8.846.237.824.779 2,13 7.107.362.235.455 of current portion
Piutang sewa pembiayaan - Finance lease receivables - net of
neto porsi jangka pendek 1.153.322.351.850 2,11 1.449.744.209.382 current portion
Piutang lain-lain - pihak ketiga - Other receivables - third parties -
neto porsi jangka pendek 121.470.076.800 2,7 128.648.995.957 net of current portion
Piutang lain-lain - pihak berelasi - Other receivables - related parties
neto porsi jangka pendek 6.143.895.000 2,8c 6.143.895.000 - net of current portion
Estimasi pengembalian pajak - Estimated claim for tax refunds -
neto porsi jangka pendek 66.383.302.418 2,23f 53.552.218.066 net of current portion
Property, plant and equipment -
Aset tetap - neto 1.457.525.436.994 2,18 653.496.486.669 net
Aset pajak tangguhan - neto 63.576.309.505 2,23d 12.039.741.417 Deferred tax assets - net
Investasi jangka panjang 2.522.867.184.126 15 2.352.654.462.405 Long-term investments
Advances for purchase of property,
Uang muka pembelian aset tetap 54.524.728.569 19 53.753.653.115 plant and equipment
Aset hak guna 20.955.000.727 14 27.504.687.322 Right-of-use assets
Aset eksplorasi dan evaluasi 29.235.675.350 2,16 3.330.951.275 Exploration and evaluation assets
Aset takberwujud - neto 17.972.343.289 2,17 28.131.590.347 Intangible assets - net
Aset derivatif - neto porsi jangka Derivative assets - net of current
pendek 361.529.964.880 2,27 309.220.871.729 maturities
Aset tidak lancar lainnya 21.738.477.827 20 23.411.188.913 Other non-current assets
TOTAL ASET TIDAK LANCAR 14.743.482.572.114 12.208.995.187.052 TOTAL NON-CURRENT ASSETS
TOTAL ASET 18.411.631.841.862 15.929.228.082.928 TOTAL ASSETS
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
1
Page 168
The original consolidated financial statements included herein
are in the Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENTS OF FINANCIAL
(lanjutan) POSITION (continued)
Tanggal 31 Desember 2024 As of December 31, 2024
(Disajikan dalam Rupiah, (Expressed in Rupiah,
Kecuali Dinyatakan Lain) Unless Otherwise Stated)
Catatan/
2024 Notes 2023
LIABILITAS LIABILITIES
LIABILITAS JANGKA PENDEK CURRENT LIABILITIES
Utang bank jangka pendek 883.929.780.230 2,25 964.977.053.208 Short-term bank loan
Utang usaha 260.863.402.238 2,21 116.547.442.927 Trade payables
Utang lain-lain 950.929.698.815 2,22 666.507.301.207 Other payables
Liabilitas kontrak 8.396.294.285 2,22 - Contract liability
Beban akrual 418.497.181.717 2,24 195.191.450.394 Accrued expenses
Utang pajak 44.280.351.507 2,23a 59.447.160.855 Taxes payable
Porsi jangka pendek atas: Current maturities of:
Liabilitas sewa 5.994.120.857 2,29 16.658.809.241 Lease liabilities
Pinjaman jangka panjang 340.930.502.489 2,25 1.199.366.875.323 Long-term debt
Pinjaman jangka panjang lainnya 1.050.690.000.000 26 7.000.000.000 Other long-term debt
TOTAL LIABILITAS JANGKA
PENDEK 3.964.511.332.138 3.225.696.093.155 TOTAL CURRENT LIABILITIES
LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES
Utang lain-lain - neto porsi jangka Other payables - net of current
pendek 60.020.869.805 2,22 52.960.391.760 portion
Liabilitas kontrak - neto porsi Contract liability - net of current
jangka pendek 31.252.873.177 2,22 - portion
Beban akrual - neto porsi jangka Accrued expenses - net of current
pendek 85.958.175.600 2,24 85.292.113.683 portion
Utang kepada pihak berelasi 18.401.581.396 2,8d 17.399.776.100 Due to related parties
Liabilitas sewa - neto porsi jangka Lease liabilities - net of current
pendek 16.465.366.672 2,29 13.557.517.091 portion
Pinjaman jangka panjang - neto Long-term debt - net of current
porsi jangka pendek 5.602.345.504.172 2,25 3.788.957.213.408 portion
Pinjaman jangka panjang lainnya 1.100.892.401.635 26 1.402.658.431.608 Other long-term debt
Liabilitas pajak tangguhan - neto 733.821.495.685 2,23d 656.807.031.960 Deferred tax liabilities - net
Estimated liability for employee
Liabilitas imbalan kerja 153.046.036.979 2,28c 133.002.158.979 service entitlements
TOTAL LIABILITAS JANGKA TOTAL NON-CURRENT
PANJANG 7.802.204.305.121 6.150.634.634.589 LIABILITIES
TOTAL LIABILITAS 11.766.715.637.259 9.376.330.727.744 TOTAL LIABILITIES
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
2
Page 169
The original consolidated financial statements included herein
are in the Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN KONSOLIDASIAN CONSOLIDATED STATEMENTS OF FINANCIAL
(lanjutan) POSITION (continued)
Tanggal 31 Desember 2024 As of December 31, 2024
(Disajikan dalam Rupiah, (Expressed in Rupiah,
Kecuali Dinyatakan Lain) Unless Otherwise Stated)
Catatan/
2024 Notes 2023
EKUITAS EQUITY
Modal saham - nilai nominal Capital stock - Rp 1,000 par value
Rp1.000 per saham per share
- Modal dasar Authorized -
2.000.000.000 saham 2,000,000,000 shares
- Modal ditempatkan dan disetor
penuh Subscribed and fully paid -
1.100.000.000 saham 1.100.000.000.000 31 1.100.000.000.000 1,100,000,000 shares
Tambahan modal disetor 463.406.258.255 31 463.406.258.255 Additional paid-in capital
Selisih kurs penjabaran mata uang Difference in foreign currency
asing 226.489.045.520 2 194.374.020.775 translation
Selisih nilai transaksi dengan Difference value in transactions
kepentingan non-pengendali 846.017.059.411 31 846.017.059.411 with non-controlling interest
Penyesuaian nilai wajar atas Fair value adjustment on cash flow
instrumen lindung nilai arus kas 196.300.044.362 2 133.904.710.688 hedging instruments
Bagian laba komprehensif lain dari Share of other comprehensive
entitas ventura bersama 373.518.365.434 2,15 287.157.851.555 income of joint venture
Saldo laba Retained earnings
Ditentukan penggunaannya 220.000.000.000 31 220.000.000.000 Appropriated -
Tidak ditentukan penggunaannya 278.032.670.382 538.847.501.970 Unappropriated -
Jumlah ekuitas yang dapat Total equity attributable to the
diatribusikan kepada pemilik equity holders of the parent
entitas induk 3.703.763.443.364 3.783.707.402.654 company
Kepentingan nonpengendali 2.941.152.761.239 30a 2.769.189.952.530 Non-controlling interests
TOTAL EKUITAS 6.644.916.204.603 6.552.897.355.184 TOTAL EQUITY
TOTAL LIABILITAS DAN TOTAL LIABILITIES AND
EKUITAS 18.411.631.841.862 15.929.228.082.928 EQUITY
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
3
Page 170
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN AND OTHER COMPREHENSIVE INCOME
Untuk Tahun yang Berakhir pada Tanggal For the Year Ended
31 Desember 2024 December 31, 2024
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Expressed in Rupiah, Unless Otherwise Stated)
Catatan/
2024 Notes 2023
PENDAPATAN USAHA 3.271.301.776.624 2,32 4.321.574.693.275 REVENUES
BEBAN POKOK PENDAPATAN (2.077.507.364.376) 2,33 (3.202.582.119.374) COST OF REVENUES
LABA BRUTO 1.193.794.412.248 1.118.992.573.901 GROSS PROFIT
Beban operasional (610.163.647.504) 2,34 (564.387.045.159) Operating expenses
Pendapatan lain-lain 167.405.992.051 2,35 179.779.401.061 Other income
Beban lain-lain (171.909.650.107) 2,36 (43.359.922.110) Other expenses
LABA DARI OPERASI 579.127.106.688 691.025.007.693 PROFIT FROM OPERATIONS
Pendapatan bunga 75.307.860.551 80.163.073.050 Interest income
Pajak atas pendapatan bunga (15.061.572.110) (16.032.614.610) Tax on interest income
Beban pendanaan (686.855.446.547) 37 (592.733.592.091) Finance costs
LABA (RUGI) SEBELUM BEBAN PROFIT (LOSS) BEFORE
PAJAK PENGHASILAN (47.482.051.418) 162.421.874.042 INCOME TAX EXPENSES
BEBAN PAJAK PENGHASILAN
(60.906.972.848) 2,23b (149.847.559.000) INCOME TAX EXPENSE
LABA (RUGI) TAHUN
BERJALAN (108.389.024.266) 12.574.315.042 PROFIT (LOSS) FOR THE YEAR
PENGHASILAN KOMPREHENSIF OTHER COMPREHENSIVE
LAIN INCOME
POS YANG TIDAK AKAN
DIREKLASIFIKASI KE LABA ITEMS THAT WILL NOT BE
RUGI DI TAHUN BERIKUTNYA RECLASSIFIED TO PROFIT OR
LOSS IN SUBSEQUENT YEARS
Pengukuran kembali program Remeasurement of defined benefit
imbalan kerja - neto pajak 2.742.580.231 (1.675.365.169) plans - net of tax
POS YANG AKAN
DIREKLASIFIKASI KE LABA ITEMS THAT WILL BE
RUGI DI TAHUN BERIKUTNYA RECLASSIFIED TO PROFIT OR
LOSS IN SUBSEQUENT YEARS
Selisih kurs penjabaran mata uang Difference in foreign currency
asing 81.786.717.587 (61.617.005.014) translation
Penyesuaian nilai wajar atas
instrumen lindung nilai arus kas - Fair value adjustment on cash flow
neto pajak 122.343.791.516 (21.157.447.498) hedging instrument - net of tax
Bagian laba (rugi) komprehensif Share of other comprehensive
lain dari entitas ventura bersama 86.360.513.879 15 (41.181.911.516) income (loss) of joint venture
TOTAL PENGHASILAN (RUGI) TOTAL OTHER
KOMPREHENSIF LAIN TAHUN COMPREHENSIVE INCOME
BERJALAN - NETO PAJAK (LOSS) FOR THE YEAR - NET
PENGHASILAN 293.233.603.213 (125.631.729.197) OF INCOME TAX
TOTAL PENGHASILAN (RUGI)
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN 184.844.578.947 (113.057.414.155) INCOME (LOSS) FOR THE YEAR
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
4
Page 171
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI DAN PENGHASILAN CONSOLIDATED STATEMENTS OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN (lanjutan) AND OTHER COMPREHENSIVE INCOME (continued)
Untuk Tahun yang Berakhir pada Tanggal For the Year Ended
31 Desember 2024 December 31, 2024
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Expressed in Rupiah, Unless Otherwise Stated)
Catatan/
2024 Notes 2023
LABA (RUGI) TAHUN
BERJALAN YANG DAPAT PROFIT (LOSS) FOR THE YEAR
DIATRIBUSIKAN KEPADA ATTRIBUTABLE TO
Rugi tahun berjalan yang Loss for the year attributable to
diatribusikan kepada pemilik equity holders of the parent
entitas induk (262.932.690.349) (167.023.729.900) company
Laba tahun berjalan yang
diatribusikan kepada Profit for the year attributable to
kepentingan non-pengendali 154.543.666.083 2,30b 179.598.044.942 non-controlling interests
(108.389.024.266) 12.574.315.042
TOTAL PENGHASILAN (RUGI)
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN YANG DAPAT INCOME (LOSS) FOR THE YEAR
DIATRIBUSIKAN KEPADA ATTRIBUTABLE TO
Rugi komprehensif tahun berjalan Comprehensive loss for the year
yang diatribusikan kepada attributable to equity holders
pemilik entitas induk (79.943.959.290) (249.097.818.738) of the parent company
Laba komprehensif tahun berjalan Comprehensive income for the
yang diatribusikan kepada year attributable to non-
kepentingan non-pengendali 264.788.538.237 136.040.404.583 controlling interests
184.844.578.947 (113.057.414.155)
RUGI PER SAHAM YANG BASIC LOSS PER SHARES
DAPAT DIATRIBUSIKAN ATTRIBUTABLE TO EQUITY
KEPADA PEMILIK ENTITAS HOLDERS OF THE PARENT
INDUK (239,03) (151,84) COMPANY
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
5
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The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
Untuk Tahun yang Berakhir pada Tanggal 31 Desember 2024 For the Year Ended December 31, 2024
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Expressed in Rupiah, Unless Otherwise Stated)
Diatribusikan kepada pemilik entitas induk/Attributable to the equity holders of the parent company
Penyesuaian nilai
wajar atas Total ekuitas
instrumen Bagian laba yang dapat
lindung nilai arus komprehensif lain Selisih transaksi diatribusikan
kas (Catatan 27)/ Selisih kurs dari entitas dengan pihak kepada pemilik
Fair value karena ventura bersama non-pengendali entitas induk/
Tambahan modal Saldo laba Saldo laba tidak adjustment on penjabaran mata (Catatan 15)/ (Catatan 31)/ Total equity Kepentingan non-
Modal saham disetor (Catatan ditentukan ditentukan cash flow uang asing/ Share of other Difference in attributable to the pengendali
(Catatan 31)/ 31)/ Additional penggunaannya/ penggunaannya/ hedging Difference in comprehensive transactions with equity holders of (Catatan 30)/ Non-
Catatan/ Capital stock paid-in capital Appropriated Unappropriated instrument foreign currency income of joint non-controlling the parent controlling Total ekuitas/
Notes (Note 31) (Note 31) retained earnings retained earnings (Note 27) translation venture (Note 15) interest (Note 31) company Interests (Note 30) Total equity
Saldo tanggal 31 Desember 2022 1.100.000.000.000 463.406.258.255 220.000.000.000 705.578.591.686 144.695.008.912 224.768.540.057 328.339.763.071 846.017.059.411 4.032.805.221.392 2.699.661.509.947 6.732.466.731.339 Balance, December 31, 2022
Laba (rugi) tahun berjalan - - - (167.023.729.900) - - - - (167.023.729.900) 179.598.044.942 12.574.315.042 Profit (loss) for the year
Penghasilan (kerugian)
komprehensif lain - - - 292.640.184 (10.790.298.224) (30.394.519.282) (41.181.911.516) - (82.074.088.838) (43.557.640.359) (125.631.729.197) Other comprehensive income (loss)
Total penghasilan (kerugian) Total comprehensive income (loss)
komprehensif tahun berjalan - - - (166.731.089.716) (10.790.298.224) (30.394.519.282) (41.181.911.516) - (249.097.818.738) 136.040.404.583 (113.057.414.155) for the year
Pembagian dividen untuk Dividend distribution to non-
kepentingan non-pengendali 30 - - - - - - - - - (66.511.962.000) (66.511.962.000) controlling interest
Pembentukan cadangan umum 31 - - - - - - - - - - - Appropriation of general reserve
Saldo per 31 Desember 2023 1.100.000.000.000 463.406.258.255 220.000.000.000 538.847.501.970 133.904.710.688 194.374.020.775 287.157.851.555 846.017.059.411 3.783.707.402.654 2.769.189.952.530 6.552.897.355.184 Balance, December 31, 2023
Laba (rugi) tahun berjalan - - - (262.932.690.349) - - - - (262.932.690.349) 154.543.666.083 (108.389.024.266) Profit (loss) for the year
Penghasilan (kerugian)
komprehensif lain - - - 2.117.858.761 62.395.333.674 32.115.024.745 86.360.513.879 - 182.988.731.059 110.244.872.154 293.233.603.213 Other comprehensive income (loss)
Total penghasilan (kerugian) Total comprehensive income (loss)
komprehensif tahun berjalan - - - (260.814.831.588) 62.395.333.674 32.115.024.745 86.360.513.879 - (79.943.959.290) 264.788.538.237 184.844.578.947 for the year
Pembagian dividen untuk Dividend distribution to non-
kepentingan non-pengendali 30 - - - - - - - - - (92.825.729.528) (92.825.729.528) controlling interest
Saldo per 31 Desember 2024 1.100.000.000.000 463.406.258.255 220.000.000.000 278.032.670.382 196.300.044.362 226.489.045.520 373.518.365.434 846.017.059.411 3.703.763.443.364 2.941.152.761.239 6.644.916.204.603 Balance, December 31, 2024
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
6
Page 173
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN CONSOLIDATED STATEMENTS OF CASH FLOWS
Untuk Tahun yang Berakhir pada Tanggal For the Year Ended
31 Desember 2024 December 31, 2024
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) (Expressed in Rupiah, Unless Otherwise Stated)
Catatan/
2024 Notes 2023
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM
OPERASI OPERATING ACTIVITIES
Penerimaan kas dari pelanggan 1.974.845.182.184 2.223.718.205.434 Cash receipts from customers
Pembayaran kas kepada pemasok (348.121.887.693) (556.334.094.503) Cash paid to suppliers
Pembayaran kas kepada karyawan (407.171.808.321) (361.101.948.839) Cash paid to employees
Pembayaran kas untuk biaya
operasional (455.622.880.345) (330.640.648.115) Cash paid for operating expenses
Kas yang dihasilkan dari kegiatan
usaha 763.928.605.825 975.641.513.977 Cash generated from operations
Pembayaran pajak penghasilan (56.006.643.624) (70.330.393.838) Income tax paid
Kas neto diperoleh dari aktivitas Net cash provided by by
operasi 707.921.962.201 905.311.120.139 operating activities
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM INVESTING
INVESTASI ACTIVITIES
Addition to concession financial
Penambahan atas aset konsesi (157.138.957.364) (194.592.049.351) assets
Acquisitions of property, plant and
Penambahan aset tetap (404.267.928.306) 18 (739.586.325.181) equipments
Penambahan aset takberwujud (7.867.386.164) - Acquisitions of intangible assets
Penambahan uang muka (771.075.454) - Acquisition of advances
Penerimaan (penambahan) Collection (addition) of due to
piutang berelasi (42.470.770.443) 541.176.482.980 related parties
Penerimaan piutang lain-lain 12.379.448.293 11.086.871.563 Collection of other receivables
Penerimaan bunga 75.307.860.551 80.163.073.050 Interest received
Penambahan aset eksplorasi dan Addition to exploration and
evaluasi (25.904.724.075) 16 (3.330.951.275) evaluation assets
Penerimaan dari penjualan aset Sale of property, plant and
tetap 314.256.360 18 9.121.057.568 equipments
Penerimaan dari penjualan Proceeds from sales of investment
investasi saham - 1c 2.500.000.000 in shares
Penambahan investasi saham (40.250.000.000) 15 (30.999.913.788) Addition of investment in shares
Kas neto yang digunakan untuk Net cash used in investing
aktivitas investasi (590.669.276.602) (324.461.754.434) activities
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
7
Page 174
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS KONSOLIDASIAN (lanjutan) CONSOLIDATED STATEMENTS OF CASH FLOWS
Untuk Tahun yang Berakhir pada Tanggal (continued)
31 Desember 2024 For the Year Ended
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain) December 31, 2024
(Expressed in Rupiah, Unless Otherwise Stated)
Catatan/
2024 Notes 2023
ARUS KAS DARI AKTIVITAS CASH FLOWS FROM
PENDANAAN FINANCING ACTIVITIES
Hasil yang diperoleh dari pinjaman
jangka panjang 2.201.956.370.734 1.127.951.265.171 Proceeds from long-term debts
Hasil yang diperoleh dari pinjaman Proceeds from other long-term
jangka panjang lainnya 750.000.004.127 - debts
Hasil yang diperoleh dari pinjaman
jangka pendek 610.986.250.000 - Proceeds from short-term debts
Pembayaran beban bunga dan
beban pendanaan (595.520.777.910) (582.173.147.785) Interest and financing charges paid
Pembayaran atas pinjaman jangka
panjang (1.818.748.695.405) (1.073.228.860.771) Payments of long-term debt
Pembayaran atas pinjaman jangka
panjang lainnya (7.000.000.000) (437.000.000.000) Payments of other long-term debt
Pembayaran atas pinjaman jangka
pendek (1.692.869.773.001) 25 - Payments of short-term bank loans
Penempatan deposito dan
rekening bank yang dibatasi Placement of restricted cash in
penggumaannya 10.979.115.982 668.567.500 banks and time deposits
Penarikan rekening bank dan
deposito yang dibatasi Withdrawal of restricted cash in
penggunaannya - (26.806.404.074) banks and time deposits
Pembayaran liabilitas sewa (20.000.129.878) (18.929.839.487) Repayment of lease liabilities
Pembagian dividen untuk Dividend distribution to non-
kepentingan non-pengendali (92.825.729.528) 30 (66.511.962.000) controlling interest
Penerimaan utang lain-lain dari Proceeds from other payables of
kepentingan non-pengendali 279.538.058.435 - non-controlling interest
Kas neto yang digunakan untuk Net cash used in financing
aktivitas pendanaan (373.505.306.444) (1.076.030.381.446) activities
PENURUNAN NETO KAS DAN NET DECREASE IN CASH AND
SETARA KAS DARI OPERASI CASH EQUIVALENTS FROM
YANG DILANJUTKAN (256.252.620.845) (495.181.015.741) CONTINUING OPERATIONS
PERBEDAAN NILAI TUKAR NET FOREIGN EXCHANGE
NETO (2.319.618.565) (64.349.676.810) DIFFERENCE
CASH AND CASH
KAS DAN SETARA KAS PADA EQUIVALENTS AT BEGINNING
AWAL TAHUN 1.951.362.812.125 2.510.893.504.676 OF YEAR
CASH AND CASH
KAS DAN SETARA KAS PADA EQUIVALENTS AT END OF
AKHIR TAHUN 1.692.790.572.715 4 1.951.362.812.125 YEAR
Catatan atas laporan keuangan konsolidasian terlampir merupakan The accompanying notes to the consolidated financial statements form
bagian yang tidak terpisahkan dari laporan keungan konsolidasian secara an integral part of these consolidated financial statements taken as a
keseluruhan. whole.
8
Page 175
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM 1. GENERAL
a. Informasi Umum a. General Information
PT Medco Power Indonesia (“Perusahaan”) PT Medco Power Indonesia (the “Company”)
didirikan dengan nama PT Medco Power was established under the name of PT Medco
Karimata berdasarkan Akta Notaris No. 97 Power Karimata based on Notarial Deed No.
oleh Ny. MTH. Suprapti, S.H., pada tanggal 97 dated January 28, 2004 of Ny. MTH.
28 Januari 2004. Akta pendirian telah diubah Suprapti, S.H.The deed of establishment was
berdasarkan Akta Notaris No. 10 oleh Ny. amended on September 3, 2004, based on
Poerbaningsih Adi Warsito, S.H., pada tanggal Notarial Deed No. 10 of Ny. Poerbaningsih Adi
3 September 2004, terkait dengan perubahan Warsito, S.H., concerning the change of its
nama Perusahaan menjadi PT Medco Power name to PT Medco Power Indonesia. The
Indonesia. Akta pendirian dan perubahannya deed of establishment and its amendment
disetujui oleh Menteri Hukum dan Hak Asasi were approved by the Ministry of Law and
Manusia dengan Surat Keputusan C-24274 Human Rights in its decision letter No.
HT.01.01.TH.2004 tanggal 29 September 2004 C-24274 HT.01.01.TH.2004 dated
dan diumumkan dalam Berita Negara Republik September 29, 2004 and was published in
Indonesia No. 895, Tambahan No.7 tanggal 25 State Gazette No. 895, Supplement No.7
Januari 2005. dated January 25, 2005.
Anggaran Dasar Perusahaan beberapa kali The Company’s Articles of Association has
mengalami perubahan, perubahaan terakhir been amended several time, the latest
tersebut diaktakan dengan Akta Notaris No. 11 amendment by Notarial Deed No.11 of Siti
oleh Siti Rumondang Bulan Lubis, S.H., M.Kn., Rumondang Bulan Lubis, S.H., M.Kn. dated
tanggal 15 Mei 2023, terkait perubahan Pasal May 15, 2023 regarding the changes in Article
13, yang telah disetujui oleh Menteri Hukum No. 13 which was approved by the Ministry of
dan Hak Asasi Manusia dalam suratnya No. Law and Human Rights in its letter No. AHU-
AHU-AH.01.03-0063938 tanggal 15 Mei 2023. AH.01.03-0063938 dated May 15, 2023.
Sesuai dengan Pasal 3 Anggaran Dasar As stated in Article 3 of the Company’s Articles
Perusahaan, ruang lingkup aktivitas of Association, the scope of activities of the
Perusahaan terdiri dari, antara lain, Company comprises, among others, acquiring,
mengambil alih, membangun dan developing and operating power plant; selling
mengoperasikan pembangkit listrik; penjualan electricity; operating and maintaining power
tenaga listrik; mengoperasikan dan plant, transmission and electricity distribution
memelihara pembangkit listrik, transmisi dan network; providing engineering procurement
jaringan distribusi; melakukan jasa rekayasa and construction services; providing power
pengadaan dan konstruksi; melakukan jasa support business; providing management
penunjang kelistrikan; melakukan jasa consulting services on electricity business
konsultasi manajemen bisnis bidang area; developing, operating and maintaining
kelistrikan; membangun, mengoperasikan dan gas piping for gas supply.
memelihara pipa gas untuk keperluan
pemasokan gas.
Perusahaan telah melakukan seluruh kegiatan The Company performs all of those activities,
tersebut, kecuali membangun, except for operating and maintaining gas
mengoperasikan dan memelihara pipa gas piping for gas supply.
untuk keperluan pemasok gas.
Perusahaan berdomisili di Jakarta, Indonesia, The Company is domiciled in Jakarta,
dengan kantor beralamat pada The Energy Indonesia, with its office located at The Energy
Building, lantai 8, Jl. Jenderal Sudirman Kav. Building, 8th floor, Jl. Jenderal Sudirman Kav.
52-53 Lot 11A SCBD, Senayan, Kebayoran 52-53 Lot 11A SCBD, Senayan, Kebayoran
Baru, Jakarta Selatan 12190. Baru, Jakarta Selatan 12190.
Perusahaan memulai kegiatan operasi The Company started commercial operations
komersialnya pada tanggal 9 Juni 2005. on June 9, 2005.
9
Page 176
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
a. Informasi Umum (lanjutan) a. General Information (continued)
Susunan Dewan Komisaris dan Direksi The members of the Company’s Boards of
Perusahaan pada tanggal 31 Desember 2024 Commissioners and Directors as of December
dan 2023 adalah sebagai berikut: 31, 2024 and 2023 are as follows:
2024 2023
Dewan Komisaris: Board of Commissioners:
Komisaris Utama Amri Siahaan Amri Siahaan President Commissioner
Komisaris Independen M. Teguh Pamuji M. Teguh Pamuji Independent Commissioner
Komisaris Darmoyo Doyoatmojo Darmoyo Doyoatmojo Commissioner
Direksi: Board of Directors:
Direktur Utama Eka Satria Eka Satria President Director
Direktur Femi Firsadi Sastrena Femi Firsadi Sastrena Director
Direktur Imron Gazali Imron Gazali Director
Direktur Myrta Sri Utami Myrta Sri Utami Director
Komite Audit: Audit Committee:
Ketua M. Teguh Pamuji M. Teguh Pamuji Chairman
Anggota Ferry Sanjaya Ferry Sanjaya Member
Anggota Hendry Hendry Member
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the
Perusahaan dan Entitas Anaknya (secara Company and its Subsidiaries (collectively
kolektif disebut sebagai “Grup”) memiliki referred to as the “Group”) have 758 and 890
karyawan tetap masing-masing sebanyak 758 permanent employees, respectively
dan 890 orang (tidak diaudit). (unaudited).
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the
entitas induk terakhir Perusahaan adalah PT Company’s ultimate parent company is PT
Medco Daya Abadi Lestari. Medco Daya Abadi Lestari.
b. Aksi Korporasi b. Corporate action
Pada tanggal 18 Januari 2024, Perusahaan On January 18, 2024, the Company issued
telah menerbitkan Sukuk Wakalah Shelf Public Offering Sharia Compliant Bonds I
Berkelanjutan I Medco Power Indonesia Tahap Medco Power Indonesia Phase III year 2024
III tahun 2024 Seri A, Seri B dan Seri C yang Tranche A, Tranche B and Tranche C in which
telah mendapatkan pernyataan efektif dari the statement of effectivity has been obtained
Otoritas Jasa Keuangan pada tanggal 26 Juli from the Financial Services Authority on July
2022 dan melakukan pencatatan perdana di 26, 2022 and initial listing at Indonesia Stock
Bursa Efek Indonesia pada tanggal 19 Januari Exchange on January 19, 2024, amounting to
2024, dengan jumlah Rp175.995.000.000 Rp175,995,000,000 for Tranche A,
untuk Seri A, Rp494.490.000.000 untuk Seri B Rp494,490,000,000 for Tranche B and
dan Rp79.515.000.000 untuk Seri C. Jumlah Rp79,515,000,000 for Tranche C. Sukuk
Sukuk Wakalah yang diterbitkan adalah wakalah amounted to Rp750,000,000,000.
sebesar Rp750.000.000.000.
Pada tanggal 27 Desember 2022, Perusahaan On December 27, 2022, the Company issued
telah menerbitkan Sukuk Wakalah Shelf Public Offering Sharia Compliant Bonds I
Berkelanjutan I Medco Power Indonesia Tahap Medco Power Indonesia Phase II year 2022
II tahun 2022 Seri A dan Seri B yang telah Tranche A and Tranche B in which the
mendapatkan pernyataan efektif dari Otoritas statement of effectivity has been obtained from
Jasa Keuangan pada tanggal 26 Juli 2022 dan the Financial Services Authority on July 26,
melakukan pencatatan perdana di Bursa Efek 2022 and initial listing at Indonesia Stock
Indonesia pada tanggal 28 Desember 2022, Exchange on December 28, 2022, amounting
dengan jumlah Rp469.690.000.000 untuk Seri to Rp469,690,000,000 for Tranche A and
A dan Rp130.310.000.000 Seri B. Jumlah Rp130,310,000,000 for Tranche B. Tranche A
Sukuk Wakalah yang diterbitkan adalah and Tranche B amounted to
sebesar Rp600.000.000.000. Rp600,000,000,000.
10
Page 177
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
b. Aksi Korporasi (lanjutan) b. Corporate action (continued)
Pada tanggal 4 Agustus 2022, Perusahaan On August 4, 2022, the Company issued Shelf
telah menerbitkan Sukuk Wakalah Public Offering Sharia Compliant Bonds I
Berkelanjutan I Medco Power Indonesia Tahap Medco Power Indonesia Phase I year 2033
I tahun 2022 Seri A dan Seri B yang telah Tranche A and Tranche B in which the
mendapatkan pernyataan efektif dari Otoritas statement of effectivity has been obtained from
Jasa Keuangan pada tanggal 26 Juli 2022 dan the Financial Services Authority on July 26,
melakukan pencatatan perdana di Bursa Efek 2022 and initial listing at Indonesia Stock
Indonesia pada tanggal 5 Agustus 2022, Exchange on August 5, 2022, amounting to
dengan jumlah Rp280.000.000.000 untuk Seri Rp280,000,000,000 for Tranche A and
A dan Rp220.000.000.000 Seri B. Jumlah Rp220,000,000,000 for Tranche B. Tranche A
Sukuk Wakalah yang diterbitkan adalah and Tranche B amounted to
sebesar Rp500.000.000.000. Rp500,000,000,000.
Pada tanggal 23 Mei 2019, Perusahaan telah On May 23, 2019, the Company issued Medco
menerbitkan Sukuk Wakalah Medco Power Power Indonesia Sukuk Wakalah II for the
Indonesia II tahun 2019 yang telah year 2019 in which the statement of effectivity
mendapatkan pernyataan efektif dari Otoritas has been obtained from the Financial Services
Jasa Keuangan pada tanggal 20 Mei 2019 dan Authority on May 20, 2019 and initial listing at
melakukan pencatatan perdana di Bursa Efek Indonesia Stock Exchange on May 24, 2019
Indonesia pada tanggal 24 Mei 2019, dengan with sukuk wakalah amounted to
sukuk wakalah sebesar Rp850.000.000.000. Rp850,000,000,000.
Pada tanggal 4 Juli 2018, Perusahaan telah On July 4, 2018, the Company issued Medco
menerbitkan Obligasi Medco Power Indonesia Power Indonesia I bonds and Medco Power
I dan sukuk wakalah Medco Power Indonesia I Indonesia sukuk wakalah I for the year 2018 in
tahun 2018 yang telah mendapatkan which the statement of effectivity has been
pernyataan efektif dari Otoritas Jasa obtained from the Financial Services Authority
Keuangan pada tanggal 26 Juni 2018 dan on June 26, 2018 and initial listing at
melakukan pencatatan perdana di Bursa Efek Indonesia Stock Exchange on July 5, 2018
Indonesia pada tanggal 5 Juli 2018, dengan with bonds and sukuk wakalah amounted to
obligasi dan sukuk wakalah masing-masing Rp600,000,000,000, respectively. Bonds and
sebesar Rp600.000.000.000. Jumlah obligasi sukuk wakalah amounted to
dan sukuk wakalah adalah sebesar Rp1,200,000,000,000.
Rp1.200.000.000.000.
c. Struktur Entitas Anak c. Structure of the Subsidiaries
i. Pada tanggal 31 Desember 2024 dan i. As of December 31, 2024 and 2023, the
2023, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut:
Total Aset
(dalam ribuan rupiah)
(Sebelum eliminasi untuk
konsolidasi)/
Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
Ownership (%) consolidation)
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2024 2023 2024 2023
PT Dalle Panaran Belum memulai kegiatan Operasi atas 99,01% 99,01% 10.539.191 10.489.191
("DP"), 1) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Indo Medco Belum memulai kegiatan Operasi atas 99,98% 99,98% 2.003.390 2.002.104
Power ("IMP"), 1) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Muara Enim Multi Belum memulai kegiatan Operasi atas 80,00% 80,00% 1.390.123 1.369.407
Power ("MEMP"), 1) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
11
Page 178
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1 UMUM (lanjutan) 1 GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (continued)
i. Pada tanggal 31 Desember 2024 dan i. As of December 31, 2024 and 2023, the
2023, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut:
Total Aset
(dalam ribuan rupiah)
(Sebelum eliminasi untuk
konsolidasi)/
Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
Ownership (%) consolidation)
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2024 2023 2024 2023
PT Medco Belum memulai kegiatan Entitas bertujuan 100,00% 100,00% 965.560.720 689.682.211
Geothermal komersial/Has not yet khusus untuk proyek
Indonesia ("MGI"), 1) started commercial geothermal/Special
Indonesia operations purpose company for
geothermal projects
PT Medco Cahaya Belum memulai kegiatan Operasi atas 51,00% 51,00% 4.190.869.842 2.641.510.282
Geothermal ("MCG"), komersial/Has not yet pembangkit listrik/
2)
started commercial Operation of power
Indonesia operations plant
PT Sangsaka Agro Belum memulai kegiatan Entitas Induk dari 70,00% 70,00% 7.897.662 7.896.346
Lestari ("SAL"), 1) komersial/Has not yet SHL, BJI, SHS, SHK,
Indonesia started commercial SHC, SHB, SHPL/
operations Holding company of
SHL, BJI, SHS, SHK,
SHC, SHB, SHPL
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 56,00% 56,00% 1.000.000 1.000.000
Lestari ("SHL"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Bio Jatropha 13 September/ Operasi atas 69,93% 69,93% 237.469.188 282.252.999
Indonesia ("BJI"), 2) September 13, 2017 pembangkit listrik
Indonesia dan penyediaan
tenaga listrik sampai
dengan 2032 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2032 in accordance
with Power Purchase
Agreement ("PPA")
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 69,93% 69,93% 1.000.000 1.000.000
Selatan ("SHS"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 67,20% 67,20% 14.852.464 14.830.715
Kasmar ("SHK"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 70,00% 70,00% 1.000.000 1.000.000
Cisereuh ("SHC"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 67,20% 67,20% 1.000.000 1.000.000
Patikala Lima komersial/Has not yet pembangkit listrik/
("SHPL"), 2) started commercial Operation of power
Indonesia operations plant
12
Page 179
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (continued)
i. Pada tanggal 31 Desember 2024 dan i. As of December 31, 2024 and 2023, the
2023, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut: (lanjutan) (continued)
Total Aset
(dalam ribuan rupiah)
(Sebelum eliminasi untuk
konsolidasi)/
Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
Ownership (%) consolidation)
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2024 2023 2024 2023
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 67,20% 67,20% 1.576.119 1.579.372
Baliase ("SHB"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Pembangkitan 23 Mei/May 23, 2018 Operasi atas 100,00% 100,00% 184.024.807 231.937.512
Pusaka Parahiangan pembangkit listrik
("PPP"), 1) dan penyediaan
Indonesia tenaga listrik sampai
dengan 2033 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2033 in accordance
with PPA
PT Medco Hidro Belum memulai kegiatan Induk Entitas 100,00% 100,00% 63.059.547 63.059.747
Indonesia ("MHI"), 1) komersial/Has not yet Perusahaan dari
Indonesia started commercial SHBar dan NES/
operations Holding company of
SHBar and NES
PT Sangsaka Hidro Belum memulai kegiatan Operasi atas 100,00% 100,00% 12.476.254 10.803.840
Barat ("SHBar"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Nawakara Energi Belum memulai kegiatan Operasi atas 80,00% 80,00% 15.576.994 16.385.868
Sumpur ("NES"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Medco Belum memulai kegiatan Operasi atas 100,00% 100,00% 2.613.500 2.610.000
Geothermal komersial/Has not yet pembangkit listrik/
Nusantara ("MGN"), started commercial Operation of power
1)
operations plant
Indonesia
PT Medco Power Belum memulai kegiatan Operasi atas 100,00% 100,00% 653.941.920 643.213.683
Sentral Sumatra komersial/Has not yet pembangkit listrik/
("MPSS"), 1) started commercial Operation of power
Indonesia operations plant
PT Medco Ratch 10 Februari/February Operasi atas 51,00% 51,00% 5.913.126.804 5.765.440.148
Power Riau 10, 2022 pembangkit listrik
("MRPR"), 2) dan penyediaan
Indonesia tenaga listrik sampai
dengan 2042 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2042 in accordance
with PPA
13
Page 180
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (continued)
i. Pada tanggal 31 Desember 2024 dan i. As of December 31, 2024 and 2023, the
2023, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut: (lanjutan) (continued)
Total Aset
(dalam ribuan rupiah)
(Sebelum eliminasi untuk
konsolidasi)/
Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
Ownership (%) consolidation)
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2024 2023 2024 2023
PT Medcopower Belum memulai kegiatan Operasi atas 100,00% 100,00% 92.445.605 87.686.115
Energi Baru komersial/Has not yet pembangkit listrik/
("MPEB"), 1) started commercial Operation of power
Indonesia operations plant
PT Medcopower Belum memulai kegiatan Operasi atas 100,00% 100,00% 511.927 507.120
Surya Nusantara komersial/Has not yet pembangkit listrik/
("MPSN"), 2) started commercial Operation of power
Indonesia operations plant
PT Medcopower Belum memulai kegiatan Operasi atas 100,00% 100,00% 1.364.916 1.151.251
Transportasi Listrik komersial/Has not yet pembangkit listrik/
("MPTL"), 2) started commercial Operation of power
Indonesia operations plant
PT Medcosolar Bali Belum memulai kegiatan Operasi atas 51,00% 51,00% 240.046.856 57.773.923
Timur ("MSBT"), 1) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Medco Solar Bali Belum memulai kegiatan Operasi atas 51,00% 51,00% 48.873.949 64.484.584
Barat ("MSBB"), 1) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
PT Medco Kansai Belum memulai kegiatan Entitas Induk dari 60,00% 60,00% 2.181.479.859 2.190.866.014
Power Indonesia komersial/Has not yet DEB, MGS, EPE,
("MKPI"), 1) started commercial MPE, MPSI, UBE,
Indonesia operations MEM, MGPS /
Holding company of
DEB, MGS, EPE,
MPE, MPSI, UBE,
MEM, MGPS
PT Dalle Energy 24 Januari/January 24, Operasi atas 47,99% 47,99% 436.076.887 504.289.552
Batam ("DEB"), 2) 2006 pembangkit listrik
Indonesia dan penyediaan
tenaga listrik sampai
dengan 2024 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2024 in accordance
with PPA
PT Multidaya Prima 8 Mei/May 8, 2008 Operasi atas 51,00% 51,00% 169.398.488 189.969.519
Elektrindo ("MPE"), 2) pembangkit listrik
Indonesia dan penyediaan
tenaga listrik sampai
dengan 2028 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2028 in accordance
with PPA
14
Page 181
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (continued)
i. Pada tanggal 31 Desember 2024 dan i. As of December 31, 2024 and 2023, the
2023, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut: (lanjutan) (continued)
Total Aset
(dalam ribuan rupiah)
(Sebelum eliminasi untuk
konsolidasi)/
Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
Ownership (%) consolidation)
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2024 2023 2024 2023
PT Energi Prima 1 Juli/July 1, 2006 Operasi atas 55,50% 55,50% 116.430.104 124.365.678
Elektrika ("EPE"), 2) pembangkit listrik
Indonesia dan penyediaan
tenaga listrik sampai
dengan 2026 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2026 in accordance
with PPA
PT Medcopower 10 Februari/February Operasi atas 62,00% 62,00% 77.989.526 78.620.905
Servis Indonesia 10, 2022 pembangkit listrik/
("MPSI"), 2) Operation of power
Indonesia plant
PT Universal Batam 6 Januari/January 6, Entitas induk dari 42,00% 42,00% 221.597.178 189.144.263
Energy ("UBE"), 2) 2016 ELB/Holding
Indonesia company of ELB
PT Energi Listrik 6 Januari/January 6, Operasi atas 43,39% 43,39% 1.851.020.922 1.118.912.170
Batam ("ELB"), 2) 2016 pembangkit listrik/
Indonesia Operation of power
plant
PT Medco Energi 29 Oktober/October 29, Operasi atas 59,99% 59,99% 150.913.338 150.909.872
Menamas ("MEM"), 2) 2004 pembangkit listrik
Indonesia dan penyediaan
tenaga listrik sampai
dengan 2026 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2026 in accordance
with PPA
PT Mitra Energi 29 Oktober/October 29, Operasi atas 42,39% 42,39% 600.905.267 628.020.078
Batam ("MEB"), 2) 2004 pembangkit listrik
Indonesia dan penyediaan
tenaga listrik sampai
dengan 2034 sesuai
dengan Perjanjian
Pembelian Listrik/
Operation of power
plant and supply of
electric power until
2034 in accordance
with PPA
PT TJB Power 1 Oktober/October 1, Operasi atas 49,88% 49,88% 222.785.728 218.748.143
Services ("TJBPS"), 2006 pembangkit listrik
2)
selama 24 tahun
Indonesia sesuai dengan
perjanjian operasi
dan pemeliharaan/
Operation of power
plant for 24 years in
accordance with
Operation and
Maintenance
Agreement
15
Page 182
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (continued)
i. Pada tanggal 31 Desember 2024 dan i. As of December 31, 2024 and 2023, the
2023, Perusahaan memiliki entitas anak Company has the following subsidiaries:
sebagai berikut: (lanjutan) (continued)
Total Aset
(dalam ribuan rupiah)
(Sebelum eliminasi untuk
konsolidasi)/
Kepemilikan Total Assets
Efektif (%)/ (in thousand of Rupiah)
Effective (Before elimination for
Ownership (%) consolidation)
Entitas Anak
Negara Perusahaan Dimulainya Kegiatan
Berada/ Komersial/
Subsidiary Country Start of Commercial Jenis Bisnis/
of Incorporation Operations Nature of Business 2024 2023 2024 2023
PT Medco General 28 Juli/July 28, 2008 Induk dari 59,76% 59,76% 73.298.475 73.269.094
Power Services Perusahaan dari
("MGPS"), 2) TJBPS/Holding
Indonesia company of TJBPS
PT Medco Solar Belum memulai kegiatan Operasi atas 100,00% 100,00% 2.500.050 2.500.000
Pasifik (“MSP"), 2) komersial/Has not yet pembangkit listrik/
Indonesia started commercial Operation of power
operations plant
Medco Power Global Belum memulai kegiatan Operasi atas 100,00% 100,00% 62.710.881 21.077.864
Pte. Ltd. ("MPG"), 1) komersial/Has not yet pembangkit listrik/
Singapura/Singapore started commercial Operation of power
operations plant
PT Medcopower Belum memulai kegiatan Pemegang saham 100,00% 100,00% 2.512.946 2.505.720
Elektrika Indonesia komersial/Has not yet minoritas dari MSP/
("MPEI"), 1) started commercial Minority shareholder
Indonesia operations of MSP
PT Medco 22 April/April 22, 2008 Operasi atas 61,96% 61,96% 120.577.083 100.565.612
Geothermal Sarulla pembangkit listrik
("MGS"), 2) selama 6 tahun
Indonesia sesuai dengan
perjanjian operasi
dan pemeliharaan/
Operation of power
plant for 6 years in
accordance with
Operation and
Maintenance
Agreement
PT Medco Belum memulai kegiatan Operasi atas 100,00% 100,00% 13.243.450 1.250.704
Geothermal komersial/Has not yet pembangkit listrik/
Sumatera ("MGSu"), started commercial Operation of power
2)
Indonesia operations plant
PT Medco Power 21 September/ Operasi atas 100,00% 100,00% 20.606.484 1.250.000
Energi Services September 21, 2024 pembangkit listrik/
("MPES"), 1) Operation of power
Indonesia plant
PT Medco Power Belum memulai kegiatan Operasi atas 60,00% - 16.219.259 -
Geothermal Services komersial/Has not yet pembangkit listrik/
("MPGS"), 2) started commercial Operation of power
Indonesia operations plant
PT Medco Power Belum memulai kegiatan Operasi atas 100,00% - 1.752.790 -
Solar Transmisi komersial/Has not yet pembangkit listrik/
("MPST"), 1) started commercial Operation of power
Indonesia operations plant
PT Medco Power Belum memulai kegiatan Operasi atas 100,00% - 1.675.000 -
Geothermal Energi komersial/Has not yet pembangkit listrik/
("MPGE"), 2) started commercial Operation of power
Indonesia operations plant
1) Entitas anak dengan kepemilikan langsung oleh PT Medco Power Indonesia 1) Subsidiaries held directly by PT Medco Power Indonesia
2) Entitas anak dengan kepemilikan tidak langsung 2) Subsidiaries held indirectly through subsidiary undertakings
16
Page 183
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
1. UMUM (lanjutan) 1. GENERAL (continued)
c. Struktur Entitas Anak (lanjutan) c. Structure of the Subsidiaries (continued)
ii. Perusahaan, melalui MGeoPS, memiliki ii. The Company, through MGeoPS, has
kepemilikan sebesar 18,8075% pada interest of 18.8075% in the Sarulla
Sarulla Geothermal Operation (Grup Geothermal Operation (Joint Operation
Kontraktror Pengendalian Bersama) Contractor Group) (“JOCG”). After the
(“GKPB”). Setelah pengalihan 2% transfer of MPI's 2% ownership in
kepemilikan MPI pada MGeoPS di bulan MGeoPS in May 2021, the effective
Mei 2021, maka kepemilikan efektif pada ownership in JOCG decreased to 18.07%
GKPB turun menjadi 18,07% (Note 15). MGeoPS owned 36.8775%
(Catatan 15). MGeoPS memiliki interest in JOCG. The JOCG is engaged in
kepentingan sebesar 36,8775% di GKPB. the exploration and exploitation of
GKPB ditunjuk untuk melakukan eksplorasi geothermal energy resources in the Sarulla
dan eksploitasi atas sumber energi area with the size of approximately 490
geotermal pada area Sarulla dengan luas km2 (unaudited), in North Sumatera, and
lahan sebesar 490 km2 (tidak diaudit) di to generate electricity from those resources
Sumatera Utara dan untuk menghasilkan as well as sale to PT Perusahaan Listrik
energi listrik dari sumber tersebut serta Negara (Persero) (“PT PLN (Persero)”).
menjual kepada PT Perusahaan Listrik Since December 10, 2007, JOCG
Negara (Persero) (“PT PLN (Persero)”). appointed Sarulla Operations Ltd. as the
Sejak tanggal 10 Desember 2007, GKPB Operator.
menunjuk Sarulla Operations Ltd. sebagai
Operator.
iii. Perubahan kepemilikan signifikan di iii. Significant change of ownership in a
Entitas anak Subsidiaries
PT Medco Sumbawa Gas (“MSG”) PT Medco Sumbawa Gas (“MSG”)
Pada 18 September 2023, Perseroan On September 18, 2023, the Group signed
menandatangani Perjanjian Jual Beli a Share Sale and Purchase Agreement to
Saham untuk melepas 100% kepemilikan sell 100% of the shares in PT Medco
pada PT Medco Sumbawa Gas kepada PT Sumbawa Gas to PT Amman Mineral
Amman Mineral Internasional Tbk (“AMI”), Internasional Tbk (“AMI”), for a
dengan harga jual keseluruhan sebesar consideration of Rp 2.5 billion. In relation
Rp2,5 miliar. Atas penjualan ini, Perseroan with this transaction, the Company
mencatat keuntungan pelepasan investasi recorded a gain on disposal of investment
sebesar Rp32,33 miliar (Catatan 35). amounting to Rp32.33 billion (Note 35).
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL POLICIES INFORMATION
a. Dasar Penyajian Laporan Keuangan a. Basis of Presentation of the Consolidated
Konsolidasian Financial Statements
Laporan keuangan konsolidasian telah The consolidated financial statements have
disusun sesuai dengan Standar Akuntansi been prepared in accordance with Indonesian
Keuangan di Indonesia (“SAK”), yang Financial Accounting Standards (“SAK”),
mencakup Pernyataan dan Interpretasi yang which comprise the Statements and
dikeluarkan oleh Dewan Standar Akuntansi Interpretations issued by the Financial
Keuangan Ikatan Akuntan Indonesia (“DSAK Accounting Standards Board of the Institute of
IAI”) dan Peraturan-Peraturan serta Pedoman Indonesia Chartered Accountants (Dewan
Penyajian dan Pengungkapan Laporan Standar Akuntansi Keuangan Ikatan Akuntan
Keuangan yang diterbitkan oleh Otoritas Jasa Indonesia or “DSAK IAI”) and the Regulations
Keuangan (“OJK”). and Guidelines on Financial Statement
Presentation and Disclosures issued by
Financial Services Authority (Otoritas Jasa
Keuangan or “OJK”).
Laporan keuangan konsolidasian disusun The consolidated financial statements have
berdasarkan konsep akrual, kecuali laporan been prepared on the accrual basis, except for
arus kas konsolidasian, dengan menggunakan the consolidated statements of cash flows,
konsep biaya historis, kecuali seperti yang using the historical cost concept of accounting,
disebutkan dalam Catatan atas laporan except as disclosed in the relevant Notes to
keuangan konsolidasian yang relevan. the consolidated financial statements herein.
17
Page 184
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
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 the Consolidated
Konsolidasian (lanjutan) Financial Statements (continued)
Kebijakan akuntansi yang diterapkan oleh The accounting policies adopted by the Group
Grup adalah selaras bagi tahun yang dicakup are consistently applied for the years covered
oleh laporan keuangan konsolidasian, kecuali by the consolidated financial statements,
untuk standar akuntansi baru dan revisi seperti except for new and revised accounting
diungkapkan pada Catatan 2y di bawah ini. standards as disclosed in the following Note
2y.
Grup telah menyusun laporan keuangan The Group has prepared the consolidated
konsolidasian dengan dasar bahwa Grup akan financial statements on the basis that it will
terus beroperasi secara berkesinambungan. continue to operate as a going concern.
Laporan arus kas konsolidasian menyajikan The consolidated statements of cash flows
penerimaan dan pengeluaran kas dan setara presents receipts and disbursements of cash
kas yang diklasifikasikan ke dalam aktivitas and cash equivalents classified into operating,
operasi, investasi dan pendanaan. Arus kas investing and financing activities. The cash
dari aktivitas operasi disajikan dengan flows from operating activities are presented
menggunakan metode langsung. using the direct method.
b. Prinsip Konsolidasi b. Principles of Consolidation
Laporan keuangan konsolidasian terdiri dari The consolidated financial statements
laporan keuangan Perusahaan dan entitas comprise the financial statements of the
anaknya seperti dijelaskan pada Catatan 1c. Company and its subsidiaries as described in
Note 1c.
Laporan keuangan konsolidasian meliputi The consolidated financial statements
laporan keuangan Perusahaan dan entitas- comprise the financial statements of the
entitas anak (“Grup”) pada tanggal 31 Company and its subsidiaries (“Group”) at
Desember setiap tahun. Kendali diperoleh bila December 31 each year. Control is achieved
Grup terekspos atau memiliki hak atas imbal when the Group’s exposed, or has rights, to
variable returns from its involvement with the
hasil variabel dari keterlibatannya dengan investee and has the ability to affect those
investee dan memiliki kemampuan untuk returns through its power over the investee.
mempengaruhi imbal hasil tersebut melalui Thus, the Group controls an investee if and
kekuasaannya atas investee. Dengan only if the Group has all of the following:
demikian, investor mengendalikan investee
jika dan hanya jika investor memiliki seluruh
hal berikut ini:
i. Kekuasaan atas investee, yaitu hak yang i. Power over the investee, that is existing
ada saat ini yang memberi Grup rights that give the Group current ability to
kemampuan kini untuk mengarahkan direct the relevant activities of the investee;
aktivitas relevan dari investee;
ii. Eksposur atau hak atas imbal hasil ii. Exposure, or rights, to variable returns
variabel dari keterlibatan Grup dengan from its involvement with the investee; and
investee; dan
iii. Kemampuan untuk menggunakan iii. The ability to use its power over the
kekuasaannya atas investee untuk investee to affect its returns.
mempengaruhi jumlah imbal hasil.
Umumnya, kepemilikan hak suara mayoritas Generally, there is a presumption that a
menghasilkan pengendalian. Untuk majority of voting rights result in control. To
mendukung hal ini dan jika Grup memiliki hak support this presumption and when the Group
suara kurang dari hak suara mayoritas, atau has less than a majority of the voting or similar
hak sejenis atas suatu investee, Grup rights of an investee, the Group considers all
mempertimbangkan seluruh fakta dan relevant facts and circumstances in assessing
keadaan ketika menilai apakah Grup memiliki whether it has power over an investee,
kekuasaan atas investee, termasuk: including:
a. pengaturan kontraktual dengan pemegang a. the contractual arrangement with the other
hak suara lainnya pada investee; vote holders of the investee;
b. hak-hak yang timbul dari pengaturan b. rights arising from other contractual
kontraktual lain; dan arrangements; and
c. hak suara yang dimiliki Grup dan hak c. the Group voting rights and potential voting
suara potensial. rights.
18
Page 185
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
b. Prinsip Konsolidasi (lanjutan) b. Principles of Consolidation (continued)
Grup menilai kembali apakah masih The Group re-assesses whether or not it
mengendalikan investee jika fakta dan controls an investee if facts and circumstances
keadaan mengindikasikan bahwa terdapat indicate that there are changes to one or more
perubahan dalam satu atau lebih dari tiga of the three elements of control. Consolidation
elemen pengendalian. Konsolidasi atas entitas of a subsidiary begins when the Group obtains
anak dimulai sejak tanggal Grup memperoleh control over the subsidiary and ceases when
pengendalian atas entitas anak dan berakhir the Group loses control of the subsidiary.
ketika Grup kehilangan pengendalian atas
entitas anak.
Aset, liabilitas, pendapatan dan beban atas Assets, liabilities, income and expenses of a
entitas anak yang diakuisisi atau dijual selama subsidiary acquired or disposed of during the
tahun berjalan tercatat dalam laporan year are included in the consolidated financial
keuangan konsolidasian dari tanggal Grup statements from the date the Company gain
mendapatkan pengendalian hingga tanggal control until the date the Company ceases to
Grup kehilangan pengendalian atas entitas
anak. Perubahan dalam bagian kepemilikan control the subsidiary. A change in the
Grup pada entitas anak yang tidak ownership interest of a subsidiary, without a
mengakibatkan hilangnya pengendalian loss of control, is accounted for as an equity
dicatat sebagai transaksi ekuitas. transaction.
Laporan keuangan (konsolidasian) entitas The (consolidated) financial statements of the
anak dibuat untuk periode pelaporan yang subsidiaries are prepared for the same
sama dengan Perusahaan, menggunakan reporting period as the Company, using
kebijakan akuntansi yang konsisten. consistent accounting policies.
Semua akun dan transaksi antar Grup yang All material intercompany accounts and
material, termasuk keuntungan atau kerugian transactions, including unrealized gains or
yang belum direalisasi, jika ada, dieliminasi losses, if any, are eliminated to reflect the
untuk mencerminkan posisi keuangan dan financial position and the results of operations
hasil operasi Grup sebagai satu kesatuan of the Group as one business entity.
usaha.
Laba rugi dan setiap komponen dari Profit or loss and each component of other
penghasilan komprehensif lain (“PKL”) comprehensive income (“OCI”) are attributed
diatribusikan kepada pemilik entitas induk dari to the equity holders of the parent of the Group
Grup dan kepentingan non-pengendali and to the non-controlling interests (“NCI”),
(“KNP”), meskipun hal tersebut even if this results in the NCI having a deficit
mengakibatkan KNP memiliki saldo defisit. balance. When necessary, adjustments are
Ketika diperlukan, penyesuaian dibuat atas made to the financial statements of
laporan keuangan entitas anak untuk subsidiaries to bring their accounting policies
menyesuaikan kebijakan akuntansinya sesuai into line with the Group’s accounting policies.
dengan kebijakan akuntansi Grup. Seluruh All material intercompany accounts and
saldo akun dan transaksi yang material antar transactions, including unrealized gains and
Perusahaan, termasuk keuntungan dan losses, if any, is eliminated to reflect the
kerugian belum terealisasi, jika ada, consolidated financial position and financial
dieliminasi untuk merefleksikan laporan performance of the Group as one business
keuangan konsolidasian Grup sebagai entity.
kesatuan entitas bisnis.
Ketika Grup kehilangan pengendalian pada If the Group loses control over a subsidiary, it
entitas anak, maka Grup (i) menghentikan (i) derecognizes the related assets (including
pengakuan aset (termasuk goodwill), liabilitas, goodwill), liabilities, NCI and other component
KNP dan komponen ekuitas lainnya, (ii) of equity, (ii) recognize the fair value of
mengakui imbalan yang diterima pada nilai consideration received, (iii) reclassify to profit
wajar, (iii) mereklasifikasi ke laba rugi, atau or loss, or transfer directly to retained earnings
dialihkan langsung ke saldo laba apabila if required by other accounting standards, the
diharuskan oleh standar akuntansi, jumlah amount recognized in other comprehensive
yang diakui di penghasilan komprehensif lain income in relation to the related subsidiaries,
entitas anak terkait, (iv) mengakui keuntungan (iv) any resultant gain or loss with loss of
atau kerugian terkait dengan hilangnya control is recognized in profit or loss. Any
pengendalian. Saldo investasi yang masih investment retained is recognized at fair value.
dimiliki diakui pada nilai wajarnya.
19
Page 186
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
b. Prinsip Konsolidasi (lanjutan) b. Principles of Consolidation (continued)
Apabila Grup berkomitmen terhadap rencana If the group commits to a planned sale that
penjualan yang mengakibatkan kehilangan results in loss of control of a subsidiary and
pengendalian pada entitas anak dan classifies all assets and liabilities of the
mengklasifikasikan seluruh aset dan liabilitas subsidiary as assets held for sale when the
entitas anak tersebut sebagai aset dimiliki criteria for non-current assets held for sale are
untuk dijual ketika kriteria sebagai aset tidak met, regardless of whether after the sale the
lancar dimiliki untuk dijual terpenuhi, terlepas Group still has a non-controlling interest in the
apakah setelah penjualan tersebut Grup masih previous Subsidiary or not.
memiliki kepentingan non-pengendali terhadap
entitas anak terdahulu atau tidak.
c. Kombinasi Bisnis dan Goodwill c. Business Combination and Goodwill
Kombinasi bisnis dicatat dengan Business combinations are accounted for
menggunakan metode akuisisi. Biaya using the acquisition method. The cost of an
perolehan dari suatu akuisisi diukur dari nilai acquisition is measured as the aggregate of
agregat imbalan yang dialihkan, diukur pada the consideration transferred, measured at
nilai wajar pada tanggal akuisisi dan jumlah acquisition date fair value and the amount of
setiap KNP pada pihak yang diakuisisi. Untuk any NCI in the acquiree. For each business
setiap kombinasi bisnis, Grup memilih apakah combination, the Group elects whether it
mengukur KNP pada entitas yang diakuisisi measures the NCI in the acquiree either at fair
baik pada nilai wajar ataupun pada proporsi value or at the proportionate share of the
kepemilikan KNP atas aset neto yang acquiree’s identifiable net assets. Acquisition-
teridentifikasi dari entitas yang diakuisisi. related costs incurred are directly expensed
Biaya-biaya akuisisi yang timbul dibebankan and included in “Operating Expenses”.
langsung dan dicatat dalam “Beban
Operasional”.
Grup menentukan bahwa mereka telah The Group determines that it has acquired a
mengakuisisi bisnis ketika rangkaian aktivitas business when the acquired set of activities
dan aset yang diakuisisi mencakup input dan and assets include an input and a substantive
proses substantif yang bersama-sama secara process that together significantly contribute to
signifikan berkontribusi pada kemampuan the ability to create outputs. The acquired
untuk menghasilkan output. Proses yang process is considered substantive if it is critical
diperoleh adalah substantif jika penting bagi to the ability to continue producing outputs,
kemampuan untuk terus menghasilkan output, and the inputs acquired include an organized
dan input yang diperoleh mencakup tenaga workforce with the necessary skills,
kerja yang terorganisir dengan keterampilan, knowledge, or experience to perform that
pengetahuan, atau pengalaman yang process or it significantly contributes to the
diperlukan untuk melakukan proses itu atau ability to continue producing outputs and is
secara signifikan berkontribusi pada considered unique or scarce or cannot be
kemampuan untuk terus menghasilkan output replaced without significant cost, effort, or
dan dianggap unik atau langka atau tidak delay in the ability to continue producing
dapat diganti tanpa biaya, usaha, atau outputs.
penundaan yang signifikan dalam kemampuan
untuk terus menghasilkan output.
Ketika Perusahaan melakukan akuisisi atas When the Company acquires a business, the
sebuah bisnis, Perusahaan mengklasifikasikan Company assesses the financial assets
dan menentukan aset keuangan dan liabilitas acquired and liabilities assumed for
keuangan yang diambil alih sesuai dengan appropriate classification and designation in
klasifikasinya dan peruntukannya yang tepat accordance with the contractual terms,
berdasarkan persyaratan kontraktual, kondisi economic circumstances and pertinent
ekonomi dan kondisi terkait lainnya yang ada conditions as at the acquisition date. This
pada tanggal akuisisi. Hal ini termasuk includes the separation of embedded
pemisahan atas derivatif yang melekat pada derivatives in host contracts by the acquiree. If
kontrak utama oleh pihak yang diakuisisi. the business combination is achieved in
Dalam suatu kombinasi bisnis yang dilakukan stages, the acquisition date fair value of the
secara bertahap, pihak pengakuisisi mengukur acquirer’s previously held equity interest in the
kembali kepemilikan atas ekuitas yang dimiliki acquiree is remeasured to fair value at the
sebelumnya pada pihak yang diakuisisi acquisition date through profit or loss.
sebelumnya berdasarkan nilai wajar pada
tanggal akuisisi dan mengakui keuntungan
atau kerugian yang terjadi dalam laba rugi.
20
Page 187
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
c. Kombinasi Bisnis dan Goodwill (lanjutan) c. Business Combination and Goodwill
(continued)
Imbalan kontinjensi yang akan dibayarkan Any contingent consideration to be transferred
oleh pihak pengakuisisi diakui pada nilai wajar by the acquirer will be recognized at fair value
pada tanggal akuisisi. Perubahan nilai wajar at the acquisition date. Subsequent changes
atas imbalan kontinjensi setelah tanggal to the fair value of the contingent consideration
akuisisi yang diklasifikasikan sebagai aset which is deemed to be an asset or liability will
atau liabilitas, akan diakui dalam laporan laba be recognized in accordance with PSAK No.
rugi atau sebagai penghasilan komprehensif 109 either in profit or loss or as other
lain sesuai dengan PSAK No. 109. Imbalan comprehensive income. Other contingent
kontinjensi lain yang tidak termasuk dalam consideration that is not within the scope of
PSAK 109 diukur sebesar nilai wajar pada PSAK 109 is measured at fair value at each
setiap tanggal pelaporan dengan perubahan reporting date with changes in fair value
nilai wajar yang diakui pada laba rugi. recognized in profit or loss.
Pada tanggal akuisisi, goodwill awalnya diukur At acquisition date, goodwill is initially
pada harga perolehan yang merupakan selisih measured at cost being the excess of the
lebih nilai agregat dari imbalan yang dialihkan aggregate of the consideration transferred and
dan jumlah setiap KNP atas selisih jumlah dari the amount recognized for NCI over the net
aset teridentifikasi yang diperoleh dan liabilitas identifiable assets acquired and liabilities
yang diambil alih. Jika imbalan tersebut lebih assumed. If this consideration is lower than
rendah dari nilai wajar aset neto entitas anak the fair value of the net assets of the
yang diakuisisi, selisih tersebut diakui pada subsidiary acquired, the difference is
laba rugi sebagai keuntungan dari pembelian recognized in profit or loss as gain on bargain
dengan diskon setelah sebelumnya purchase after previously assessing the
manajemen melakukan penilaian atas identification and fair value measurement of
identifikasi dan nilai wajar dari aset yang the acquired assets and the assumed
diperoleh dan liabilitas yang diambil alih. liabilities.
Kombinasi Bisnis Entitas Sepengendali Business Combination of Entities Under
Common Control
Berdasarkan PSAK No. 338, transaksi Under PSAK No. 338, the transaction of
kombinasi bisnis entitas sepengendali tidak business combination of entities under
mengakibatkan perubahan substansi ekonomi common control does not result in a change of
kepemilikan atas bisnis yang dipertukarkan, the economic substance of the ownership of
oleh sebab itu, transaksi tersebut diakui pada businesses which are exchanged, thus the
nilai tercatat berdasarkan metode penyatuan said transaction is recognized at its carrying
kepemilikan. Dalam menerapkan metode amount using the pooling-of-interest method.
penyatuan kepemilikan, unsur-unsur laporan In applying the pooling-of-interest method, the
keuangan dari entitas yang bergabung, untuk components of the financial statements of the
tahun terjadinya kombinasi bisnis entitas combining entities, for the year during which
sepengendali dan untuk tahun komparatif the business combination of entities under
sajian, disajikan seolah-olah penggabungan common control occurred and for the
tersebut telah terjadi sejak awal tahun entitas comparative year, are presented in such a
yang bergabung berada dalam manner as if the combination has occurred
sepengendalian. Selisih antara jumlah imbalan since the beginning of the year of the
yang dialihkan dalam kombinasi bisnis entitas combining entity under common control.
sepengendali atau jumlah imbalan yang Difference in value of considerations
diterima dalam pelepasan bisnis entitas transferred in a business combination of
sepengendali, jika ada, dengan nilai tercatat entities under common control or
bisnis tersebut dicatat sebagai bagian dari considerations received in a disposal of
akun "Tambahan Modal Disetor" pada laporan business of entities under common control, if
posisi keuangan konsolidasian. any, with its carrying amount is recognized as
part of "Additional Paid-in Capital" in the
consolidated statements of financial position.
21
Page 188
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
d. Transaksi dengan Pihak Berelasi d. Transactions with Related Parties
Grup melakukan transaksi dengan pihak-pihak The Group has transactions with their related
berelasi sebagaimana didefinisikan dalam parties as defined under PSAK No. 224,
PSAK No. 224, “Pengungkapan Pihak-pihak “Related Party Disclosures”. The significant
Berelasi”. Transaksi dan saldo yang signifikan transactions and balances are disclosed in
diungkapkan dalam Catatan 8. Note 8.
Transaksi dilakukan berdasarkan persyaratan The transactions are made based on terms
yang disetujui oleh para pihak. Persyaratan agreed by the parties. Such terms may not be
tersebut mungkin tidak sama dengan the same as those of the transactions between
persyaratan transaksi dengan pihak-pihak unrelated parties.
yang tidak berelasi.
Seluruh transaksi dan saldo dengan pihak- All significant transaction and balances with
pihak berelasi yang signifikan diungkapkan related parties are disclosed in the notes to the
dalam catatan atas laporan keuangan consolidated financial statements.
konsolidasian.
e. Kas dan Setara Kas e. Cash and Cash Equivalents
Kas dan setara kas terdiri dari kas dan bank Cash and cash equivalents consist of cash on
dan deposito berjangka dengan jangka waktu hand and in banks, and short-term time
tiga bulan atau kurang sejak tanggal deposits with original maturities of three
penempatan, yang tidak digunakan sebagai months or less at the time of placement which
jaminan untuk pinjaman atau tidak dibatasi are not pledged as collateral for loans or not
penggunaannya. restricted as to use.
f. Rekening Bank dan Deposito Berjangka f. Restricted Cash in Banks and Time Deposit
yang dibatasi Penggunaannya
Deposito berjangka dan investasi jangka Time deposits and other short-term
pendek lainnya dengan jangka waktu tiga investments with a maturity date of three
bulan atau kurang sejak tanggal penempatan months or less at the time of placement which
yang tidak digunakan sebagai jaminan atau are not used as collateral or are not restricted
dibatasi penggunaannya, diklasifikasikan as to use, are classified as “Cash
sebagai “Setara Kas”. Equivalents”.
Deposito dan rekening bank yang dibatasi Restricted time deposits and cash in banks
penggunaannya, dimana porsi yang akan which will be used to pay currently maturing
digunakan untuk membayar utang yang jatuh obligations is presented under current assets.
tempo dalam satu tahun disajikan sebagai Other bank accounts and time deposits which
aset lancar. Rekening bank lainnya dan are pledged or restricted in use are presented
deposito berjangka yang dipakai sebagai under non-current assets.
agunan atau dibatasi penggunaannya
disajikan sebagai aset tidak lancar.
g. Aset Eksplorasi dan Evaluasi g. Exploration and Evaluation Assets
Aset eksplorasi dan evaluasi merupakan Exploration and evaluation assets represent
akumulasi biaya yang berkaitan dengan the accumulated costs relating to general
penyelidikan dan administrasi umum, investigation and administration, geological
pengeluaran geologi dan geofisika, survei and geophysical expenditures, topographic
topografi, studi lingkungan dan biaya lainnya survey, environmental study and other costs
yang terjadi untuk mengembangkan area incurred to develop an area before the
sebelum dimulainya operasi komersial. commencement of the commercial operations.
22
Page 189
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
h. Transaksi dan Saldo dalam Mata Uang h. Foreign Currency Transactions and
Asing Balances
Grup menerapkan PSAK No. 221, "Pengaruh The Group apply PSAK No. 221, “The Effect of
Perubahan Kurs Valuta Asing", yang Changes in Foreign Exchange Rates”, which
menjelaskan bagaimana cara memasukkan describes how to include foreign currency
transaksi mata uang asing dan operasi luar transactions and foreign operations in the
negeri dalam laporan keuangan entitas dan financial statements of an entity and translate
mentranslasikan laporan keuangan ke dalam financial statements into a presentation
suatu mata uang penyajian. Grup currency. The Group consider the primary
mempertimbangkan indikator utama dan indicators and other indicators in determining
indikator lainnya dalam menentukan mata their functional currency. If indicators are
uang fungsional mereka. Jika indikator mixed and the functional currency is not
tercampur dan mata uang fungsional tidak obvious, management uses its judgment to
jelas, manajemen menggunakan penilaiannya determine the functional currency that most
untuk menentukan mata uang fungsional yang faithfully represents the economic effects of
paling tepat mewakili dampak ekonomi dari the underlying transactions, events and
transaksi, kejadian dan kondisi yang conditions.
mendasarinya.
Laporan keuangan konsolidasian disajikan The consolidated financial statements are
dalam mata uang Rupiah, yang merupakan presented in Rupiah, which is the functional
mata uang fungsional Grup, kecuali untuk currency of the Group, except for MPE, EPE,
MPE, EPE, MCG, ELB, MRPR, MSBT, dan MCG, ELB, MRPR, MSBT, and MGSu whose
MGSu yang mata uang fungsionalnya adalah functional currency is the United States (US)
Dollar Amerika Serikat (AS). Dollar.
Transaksi Grup, kecuali MPE, EPE, MCG, Transactions of the Group, except MPE, EPE,
ELB, MRPR, MSBT, dan MGSu yang MCG, ELB, MRPR, MSBT, and MGSu,
melibatkan mata uang asing dicatat dalam involving foreign currencies are recorded in
akun dalam mata uang Rupiah dengan the accounts in Rupiah amounts using the
menggunakan kurs yang berlaku pada saat rates of exchange prevailing at the time the
terjadinya transaksi. Pada tanggal laporan transactions occur. At the consolidated
posisi keuangan konsolidasian, semua aset statements of financial position date, all
dan kewajiban moneter dalam mata uang monetary assets and liabilities denominated in
asing, yang sebagian besar dalam Dolar AS, foreign currencies and US Dollar, are adjusted
disesuaikan untuk mencerminkan kurs yang to reflect the rate of exchange prevailing at
berlaku pada tanggal tersebut dan laba atau such date, and the resulting gains or losses
rugi yang terjadi dikreditkan atau dibebankan are credited or charged to current operations.
pada operasi tahun berjalan.
Transaksi MPE, EPE, MCG, ELB, MRPR, Transactions of MPE, EPE, MCG, ELB,
MSBT, dan MGSu yang melibatkan mata uang MRPR, MSBT, and MGSu involving currencies
selain Dolar AS dicatat dengan kurs yang other than US Dollar are recorded at the rates
berlaku pada tanggal transaksi. of exchange in effect on the date of the
transactions.
Keuntungan dan kerugian selisih kurs dari Foreign exchange gains and losses from the
proses pengukuran kembali diakui dalam re-measurement process are recognized in
laporan laba rugi. profit or loss.
Untuk tujuan pelaporan dalam mata uang For purposes of reporting in Rupiah, the
Rupiah, aset dan liabilitas MPE, EPE, MCG, assets and liabilities of MPE, EPE, MCG, ELB,
ELB, MRPR, MSBT, dan MGSu dijabarkan ke MRPR, MSBT, and MGSu are translated into
mata uang Rupiah dengan menggunakan kurs Rupiah using the rates of exchange prevailing
yang berlaku pada tanggal laporan posisi at the statement of financial position date,
keuangan, akun ekuitas dijabarkan dengan equity accounts are translated using historical
menggunakan kurs historis, sementara rates of exchange, while revenues and
pendapatan dan beban dan arus kas expenses and cash flows are translated at the
dijabarkan dengan kurs rata-rata untuk average exchange rates for the period. The
periode tersebut. Selisih kurs yang timbul resulting foreign exchange differences are
dikreditkan atau dibebankan pada akun credited or charged to the account “Difference
"Selisih Kurs Penjabaran Mata Uang Asing", in Foreign Currency Translation”, under the
pada bagian Ekuitas dalam laporan posisi Equity section of the consolidated statements
keuangan konsolidasian. of financial position.
23
Page 190
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
h. Transaksi dan Saldo dalam Mata Uang h. Foreign Currency Transactions and
Asing (lanjutan) Balances (continued)
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the rates
nilai tukar yang digunakan adalah sebagai of exchange applied were as follows:
berikut:
2024 2023
Dolar Amerika Serikat 16.162/AS$ 15.416/AS$ United States Dollar
Dolar Singapura 11.919/S$ 11.712/S$ Singapore Dollar
Euro 16.851/€ 17.140/€ Euro
Pound Sterling 20.333/GBP 19.760/GBP Pound Sterling
Yen 102/JPY 110/JPY Yen
i. Pengakuan Pendapatan dan Beban i. Revenue and Expense Recognition
Pendapatan dari kontrak dengan pelanggan Revenue from contracts with customers is
diakui pada saat pengendalian jasa dialihkan recognized when control of the services is
kepada pelanggan dalam jumlah yang transferred to the customer at an amount that
mencerminkan imbalan yang diharapkan Grup reflects the consideration to which the Group
sebagai imbalan atas jasa tersebut. Grup telah expects to be entitled in exchange for those
menyimpulkan bahwa Grup adalah prinsipal services. The Group has generally concluded
dalam pengaturan pendapatannya karena that it is the principal in its revenue
Grup mengendalikan barang atau jasa arrangements.
sebelum mengalihkannya ke pelanggan.
Pendapatan dari usaha kelistrikan Revenue from power business
Grup bergerak dalam penyediaan jasa The Group is engaged in providing operation
operasi dan pemeliharaan terutama kepada and maintenance services mainly to PT
PT Perusahaan Listrik Negara (Persero) dan Perusahaan Listrik Negara (Persero) and its
entitas anak tertentu PLN. certain subsidiaries.
Akuntansi untuk pengakuan pendapatan atas Accounting for revenue recognition of the
perjanjian penyediaan jasa listrik kepada PLN power purchase agreement with PLN for
atas komponen investasi diperlakukan sebagai investment component are accounted as lease
transaksi sewa atau konsesi jasa tergantung or service concession depends on the features
kepada fitur-fitur yang ada di dalam perjanjian on the power purchase agreements.
penyediaan jasa listrik.
Sewa Leases
Pendapatan dari penyerahan tenaga listrik Revenue from delivery of electric power to the
kepada pelanggan untuk komponen investasi customer to the extent of the investment
dari transaksi pendapatan diperhitungkan component of the revenue transaction is
sebagai transaksi sewa pembiayaan dimana accounted for as finance lease transaction
Grup adalah lessor dan PT PLN (Persero) dan whereby the Company is the lessor and PT
PT PLN Batam adalah lessee. Pendapatan PLN (Persero) and PT PLN Batam is the
yang berkaitan dengan komponen lain dari lessee. Revenue related to the other
harga tenaga listrik yang dikirimkan yang components of the price of electric power
memulihkan beban pembelian gas, biaya delivered that recovers the cost of gas, the
operasi dan perawatan pembangkit listrik operation and maintenance costs of the power
diakui sebagai pendapatan penjualan pada plant are recognized as sales revenue upon
saat penyerahan tenaga listrik ke pelanggan. delivery of electric power to customer.
24
Page 191
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
i. Pengakuan Pendapatan dan Beban i. Revenue and Expense Recognition
(lanjutan) (continued)
Jasa Konsesi Service concession
Pendapatan konstruksi dari konsesi jasa Construction revenue from service concession
diakui sepanjang waktu konstruksi. Untuk is recognized over the construction time. For
kontrak yang memenuhi kriteria pengakuan contracts that meet the over time revenue
pendapatan sepanjang waktu, kinerja Grup recognition criteria, the Group’s performance
diukur dengan menggunakan metode input, is measured using an input method, by
dengan acuan terhadap biaya yang reference to the costs incurred to the
dikeluarkan untuk memenuhi kewajiban satisfaction of a performance obligation
pelaksanaan secara relatif terhadap total input relative to the total expected inputs to the
yang diharapkan untuk memenuhi kewajiban satisfaction of the performance obligation.
pelaksanaan tersebut.
Pendapatan bunga dari perjanjian konsesi Finance income from service concession
jasa merupakan pendapatan bunga atas aset arrangement represents interest income on
keuangan konsesi. Pendapatan bunga diakui the concession financial assets. The interest
dengan menggunakan metode bunga efektif. income is recognized using the effective
interest method.
Operasi dan pemeliharaan Operation and maintenance
Pendapatan dari operasi dan pemeliharaan, Revenue from operations and maintenance,
dan jasa lainnya diakui pada saat jasa and other services is recognized when
diberikan. services is rendered.
Saldo kontrak Contract balances
• Aset kontrak • Contract assets
Aset kontrak adalah hak untuk mendapatkan A contract asset is the right to consideration
imbalan dalam pertukaran jasa yang in exchange for services transferred to the
dialihkan kepada pelanggan. Jika Grup customer. If the Group performs by
melaksanakan transfer jasa kepada transferring services to a customer before
pelanggan sebelum pelanggan membayar the customer pays consideration or before
imbalan atau sebelum pembayaran jatuh payment is due, a contract asset is
tempo, aset kontrak diakui untuk imbalan recognized for the earned consideration that
yang diperoleh yang bersyarat. is conditional.
• Piutang usaha • Trade receivables
Piutang merupakan hak Grup atas sejumlah A receivables represents the Group’s right to
imbalan tidak bersyarat (yaitu, hanya an amount of consideration that is
berlalunya waktu yang diperlukan sebelum unconditional (i.e., only the passage of time
pembayaran imbalan jatuh tempo). is required before payment of the
consideration is due).
• Liabilitas kontrak • Contract liabilities
Jika pelanggan membayar imbalan sebelum If a customer pays consideration before the
Grup mentransfer barang kepada Group transfers goods to the customer, a
pelanggan, liabilitas kontrak diakui pada saat contract liability is recognized when the
pembayaran dilakukan atau pembayaran payment is made or the payment is due
jatuh tempo (mana yang lebih awal). (whichever is earlier). Contract liabilities are
Liabilitas kontrak diakui sebagai pendapatan recognized as revenue when the Group
pada saat Grup melakukan kewajiban performs under the contract.
pelaksanaan berdasarkan kontrak.
Beban Expenses
Beban diakui pada saat terjadinya (metode Expenses are recognized when incurred
akrual). (accrual method).
j. Instrumen Keuangan j. Financial Instruments
Instrumen keuangan adalah setiap kontrak A financial instrument is any contract that
yang memberikan aset keuangan bagi satu gives rise to a financial asset of one entity and
entitas dan liabilitas keuangan atau ekuitas a financial liability or equity instrument of
bagi entitas lain. another entity.
25
Page 192
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan Financial Assets
Pengakuan dan pengukuran awal Initial recognition and measurement
Aset keuangan diklasifikasikan, pada saat Financial assets are classified, at initial
pengakuan awal, yang selanjutnya diukur recognition, as subsequently measured at
pada biaya perolehan diamortisasi, nilai wajar amortized cost, fair value through other
melalui penghasilan komprehensif lain (“OCI”), comprehensive income (“OCI”), and fair value
dan nilai wajar melalui laba rugi. through profit or loss.
Klasifikasi aset keuangan pada pengakuan The classification of financial assets at initial
awal tergantung pada karakteristik arus kas recognition depends on the financial asset’s
kontraktual aset keuangan dan model bisnis contractual cash flow characteristics and the
Grup untuk mengelolanya. Dengan Group’s business model for managing them.
pengecualian piutang usaha yang tidak With the exception of trade receivables that do
mengandung komponen pembiayaan yang not contain a significant financing component
signifikan atau yang mana Grup telah or for which the Group has applied the
menerapkan panduan praktisnya, Grup pada practical expedient, the Group initially
awalnya mengukur aset keuangan pada nilai measures a financial asset at its fair value
wajarnya ditambah, dalam hal aset keuangan plus, in the case of a financial asset not at fair
tidak diukur pada nilai wajar melalui laba rugi, value through profit or loss, transaction costs.
biaya transaksi. Piutang usaha yang tidak Trade receivables that do not contain a
mengandung komponen pembiayaan yang significant financing component or for which
signifikan atau yang mana Grup telah the Group has applied the practical expedient
menerapkan panduan praktis diukur pada are measured at the transaction price
harga transaksi yang ditentukan berdasarkan determined under PSAK 115.͏
PSAK 115.͏
Agar aset keuangan dapat diklasifikasikan dan In order for a financial asset to be classified
diukur pada biaya perolehan diamortisasi atau and measured at amortized cost or fair value
nilai wajar melalui OCI, aset keuangan through OCI, it needs to give rise to cash flows
tersebut perlu menghasilkan arus kas yang that are ‘solely payments of principal and
‘semata-mata dari pembayaran pokok dan interest (“SPPI”)’ on the principal amount
bunga (“SPPI”)’ dari jumlah pokok terutang. outstanding. This assessment is referred to as
Penilaian ini disebut sebagai pengujian SPPI the SPPI test and is performed at an
dan dilakukan pada tingkat instrumen. Aset instrument level. Financial assets with cash
keuangan dengan arus kas yang bukan SPPI flows that are not SPPI are classified and
diklasifikasikan dan diukur pada nilai wajar measured at fair value through profit or loss,
melalui laba rugi, terlepas dari model irrespective of the business model.
bisnisnya.͏
Aset keuangan yang diklasifikasikan dan Financial assets classified and measured at
diukur pada biaya perolehan diamortisasi amortized cost are held within a business
dikelola dalam model bisnis yang tujuannya model with the objective to hold financial
adalah memiliki aset keuangan untuk assets in order to collect contractual cash
memperoleh arus kas kontraktual sementara flows while financial assets classified and
aset keuangan yang diklasifikasikan dan measured at fair value through OCI are held
diukur pada nilai wajar melalui OCI dikelola within a business model with the objective to
dalam model bisnis yang tujuannya adalah collect contractual cash flows and sell the
untuk memperoleh arus kas kontraktual dan financial assets.
menjual aset keuangan.͏
Pembelian atau penjualan aset keuangan Purchases or sales of financial assets that
yang mensyaratkan penyerahan aset dalam require delivery of assets within a time frame
kurun waktu yang ditetapkan oleh peraturan established by regulation or convention in the
atau kebiasaan yang berlaku di pasar market place (regular way trades) are
(pembelian yang lazim/regular) diakui pada recognized on the trade date, i.e., the date that
tanggal perdagangan, yaitu tanggal Grup the Group commits to purchase or sell the
berkomitmen untuk membeli atau menjual aset assets.
tersebut.
Model bisnis Grup untuk mengelola aset The Group’s business model for managing
keuangan mengacu pada bagaimana Grup financial assets refers to how it manages its
mengelola aset keuangannya untuk financial assets in order to generate cash
menghasilkan arus kas. Model bisnis flows. The business model determines
menentukan apakah arus kas akan dihasilkan whether cash flows will result from collecting
dari pengumpulan arus kas kontraktual, contractual cash flows, selling the financial
penjualan aset keuangan, atau keduanya. assets, or both.
26
Page 193
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Pengukuran setelah pengakuan awal Subsequent measurement (continued)
(lanjutan)
Untuk tujuan pengukuran selanjutnya, aset For purposes of subsequent measurement,
keuangan diklasifikasikan dalam empat financial assets are classified in four
kategori: categories:
• Aset keuangan pada biaya perolehan • Financial assets at amortized cost (debt
diamortisasi (instrumen utang); instruments);
• Aset keuangan pada nilai wajar melalui • Financial asset at fair value through OCI
OCI dengan daur ulang keuntungan dan with recycling or cumulative gain or
kerugian kumulatif setelah penghentian losses upon derecognition (debt
pengakuan (instrumen utang); instrument);
• Aset keuangan pada nilai wajar melalui • Financial assets at fair value through OCI
OCI dengan daur ulang keuntungan dan with recycling of cumulative gains and
kerugian kumulatif (instrumen utang); losses (debt instruments);
• Aset keuangan pada nilai wajar melalui • Financial assets at fair value through
laba rugi. profit or loss.
Aset keuangan pada biaya perolehan Financial assets at amortized cost (debt
diamortisasi (instrumen utang) instruments)
Grup mengukur aset keuangan pada biaya The Group measures financial assets at
perolehan diamortisasi jika kedua kondisi amortized cost if both of the following
berikut ini terpenuhi: conditions are met:
i. Aset keuangan tersebut dikelola dalam i. The financial asset is held within a
model bisnis yang bertujuan untuk business model with the objective to hold
memiliki aset keuangan dalam rangka financial assets in order to collect
memperoleh arus kas kontraktual, dan contractual cash flows, and
ii. Persyaratan kontraktual dari aset ii. The contractual terms of the financial
keuangan yang pada tanggal tertentu asset give rise on specified dates to cash
menimbulkan arus kas yang merupakan flows that are SPPI on the principal
SPPI dari jumlah pokok terutang. amount outstanding.
Aset keuangan pada biaya perolehan Financial assets at amortized cost are
diamortisasi selanjutnya diukur dengan subsequently measured using the effective
menggunakan suku bunga efektif (“SBE”) dan interest rate (“EIR”) method and are subject to
menjadi subjek penurunan nilai. Keuntungan impairment. Gains and losses are recognized
dan kerugian diakui dalam laba rugi pada saat in profit or loss when the financial asset is
aset keuangan dihentikan pengakuannya, derecognized, modified or impaired.
dimodifikasi atau mengalami penurunan nilai.
Aset keuangan Grup yang diukur pada biaya The Group’s financial assets at amortized cost
perolehan diamortisasi termasuk kas dan includes cash and cash equivalents, trade
setara kas, piutang usaha, piutang sewa receivables, finance lease receivables, other
pembiayaan, piutang lain-lain, rekening bank receivables, restricted cash in banks and time
dan deposito berjangka yang dibatasi deposits and concession financial assets.
penggunaannya dan aset keuangan konsesi.
Aset keuangan yang ditetapkan pada nilai Financial assets designated at fair value
wajar melalui OCI (instrumen ekuitas) through OCI (equity instruments)
Setelah pengakuan awal, Grup dapat Upon initial recognition, the Group can elect to
membuat pilihan yang tidak dapat dibatalkan classify irrevocably its equity investments as
untuk mengklasifikasikan investasi ekuitasnya equity instruments designated at fair value
sebagai instrumen ekuitas yang ditetapkan through OCI when they meet the definition of
pada nilai wajar melalui OCI jika definisi equity under PSAK 232: Financial Instruments:
ekuitas berdasarkan PSAK 232: Instrumen Presentation and are not held for trading. The
Keuangan: Penyajian dipenuhi dan tidak classification is determined on an instrument-
dimiliki untuk diperdagangkan. Klasifikasi by-instrument basis.
ditentukan berdasarkan instrumen per
instrumen.
27
Page 194
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan (lanjutan) Financial Assets (continued)
Pengukuran setelah pengakuan awal Subsequent measurement (continued)
(lanjutan)
Aset keuangan yang ditetapkan pada nilai Financial assets designated at fair value
wajar melalui OCI (instrumen ekuitas) through OCI (equity instruments)
(lanjutan) (continued)
Keuntungan dan kerugian dari aset keuangan Gains and losses on these financial assets are
ini tidak pernah didaur ulang ke laba rugi. never recycled to profit or loss. Dividends are
Dividen diakui sebagai pendapatan lain-lain recognized as other income in the statement
dalam laporan laba rugi pada saat hak of profit or loss when the right of payment has
pembayaran telah ditetapkan, kecuali jika been established, except when the Group
Grup mendapatkan manfaat dari hasil tersebut benefits from such proceeds as a recovery of
sebagai pemulihan sebagian biaya perolehan part of the cost of the financial asset, in which
aset keuangan, dalam hal ini, keuntungan case, such gains are recorded in OCI. Equity
tersebut akan dicatat di OCI. Instrumen instruments designated at fair value through
ekuitas yang ditetapkan pada nilai wajar OCI are not subject to impairment
melalui OCI tidak tunduk pada evaluasi assessment.
penurunan nilai.
Grup membuat pilihan yang tidak dapat The Group elected to classify irrevocably its
dibatalkan untuk mengklasifikasikan investasi non-listed equity investments under this
ekuitas yang tidak diperdagangkan tertentu category.
dalam kategori ini.
Aset keuangan pada nilai wajar melalui Financial assets at fair value through profit
laba rugi or loss
Aset keuangan pada nilai wajar melalui laba Financial assets at fair value through profit or
rugi termasuk aset keuangan yang dimiliki loss include financial assets held for trading,
untuk diperdagangkan, aset keuangan yang financial assets designated upon initial
ditetapkan pada pengakuan awal pada nilai recognition at fair value through profit or loss,
wajar melalui laba rugi, atau aset keuangan or financial assets mandatorily required to be
yang wajib diukur pada nilai wajar. Aset measured at fair value. Financial assets are
keuangan diklasifikasikan sebagai kelompok classified as held for trading if they are
diperdagangkan jika mereka diperoleh untuk acquired for the purpose of selling or
tujuan dijual atau dibeli kembali dalam waktu repurchasing in the near term. Derivatives,
dekat. Derivatif, termasuk derivatif melekat including separated embedded derivatives, are
yang dipisahkan, juga diklasifikasikan sebagai also classified as held for trading unless they
dimiliki untuk diperdagangkan kecuali jika are designated as effective hedging
ditetapkan sebagai instrumen lindung nilai instruments.
yang efektif.
Aset keuangan dengan arus kas yang tidak Financial assets with cash flows that are not
semata-mata pembayaran pokok dan bunga solely payments of principal and interest are
diklasifikasikan dan diukur pada nilai wajar classified and measured at fair value through
melalui laba rugi, terlepas dari model profit or loss, irrespective of the business
bisnisnya. Terlepas dari kriteria untuk model. Notwithstanding the criteria for debt
instrumen utang yang akan diklasifikasikan instruments to be classified at amortized cost
pada biaya perolehan diamortisasi atau pada or at fair value through OCI, as described
nilai wajar melalui OCI, seperti dijelaskan di above, debt instruments may be designated at
atas, instrumen utang dapat ditetapkan pada fair value through profit or loss on initial
nilai wajar melalui laba rugi pada pengakuan recognition if doing so eliminates, or
awal jika hal tersebut menghilangkan, atau significantly reduces, an accounting mismatch.
secara signifikan mengurangi, ketidaksesuaian
akuntansi.
28
Page 195
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan (lanjutan) Financial Assets (continued)
Pengukuran setelah pengakuan awal Subsequent measurement (continued)
(lanjutan)
Aset keuangan pada nilai wajar melalui Financial assets at fair value through profit
laba rugi (lanjutan) or loss (continued)
Aset keuangan yang diukur pada nilai wajar Financial assets at fair value through profit or
melalui laba rugi dicatat dalam laporan posisi loss are carried in the consolidated statements
keuangan konsolidasian pada nilai wajar of financial position at fair value with net
dengan perubahan nilai wajar neto diakui changes in fair value recognized in the
dalam laporan laba rugi dan penghasilan consolidated statements of profit or loss and
komprehensif lain konsolidasian. other comprehensive income.
Kategori ini mencakup instrumen derivatif dan This category includes derivative instruments
investasi ekuitas yang tidak diperdagangkan di and non-listed equity investments which the
mana Grup tidak membuat pilihan yang tidak Group had not irrevocably elected to classify
dapat dibatalkan untuk diklasifikasikan pada at fair value through OCI. Dividends on listed
nilai wajar melalui OCI. Dividen atas investasi equity investments are also recognized as
ekuitas Perusahaan tercatat juga diakui other income in the profit or loss when the
sebagai pendapatan lain-lain dalam laba rugi right of payment has been established.
pada saat hak pembayaran telah ditetapkan.
Derivatif yang melekat dalam kontrak hibrida, A derivative embedded in a hybrid contract,
dengan liabilitas keuangan atau kontrak utama with a financial liability or non-financial host, is
non-keuangan, dipisahkan dari host dan separated from the host and accounted for as
dicatat sebagai derivatif terpisah jika: a separate derivative if: the economic
karakteristik dan risiko ekonomi tidak terkait characteristics and risks are not closely related
erat dengan kontrak utama; instrumen terpisah to the host; a separate instrument with the
dengan persyaratan yang sama seperti same terms as the embedded derivative would
derivatif melekat akan memenuhi definisi meet the definition of a derivative; and the
derivatif; dan kontrak hibrida tidak diukur pada hybrid contract is not measured at fair value
nilai wajar melalui laba rugi. through profit or loss.
Derivatif melekat diukur pada nilai wajar Embedded derivatives are measured at fair
dengan perubahan nilai wajar diakui dalam value with changes in fair value recognized in
laba rugi. Penilaian ulang hanya terjadi jika profit or loss. Reassessment only occurs if
terdapat perubahan dalam persyaratan there is either a change in the terms of the
kontrak yang secara signifikan mengubah arus contract that significantly modifies the cash
kas yang seharusnya diperlukan atau flows that would otherwise be required or a
reklasifikasi aset keuangan keluar dari reclassification of a financial asset out of the
kategori nilai wajar melalui laba rugi. fair value through profit or loss category.
Derivatif yang melekat dalam kontrak hibrida A derivative embedded within a hybrid contract
yang mengandung aset keuangan utama tidak containing a financial asset host is not
dicatat secara terpisah. Aset keuangan utama accounted for separately. The financial asset
bersama dengan derivatif melekat harus host together with the embedded derivative is
diklasifikasikan secara keseluruhan sebagai required to be classified in its entirety as a
aset keuangan yang diukur pada nilai wajar financial asset at fair value through profit or
melalui laba rugi. loss.
29
Page 196
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan (lanjutan) Financial Assets (continued)
Penghentian pengakuan Derecognition
Penghentian pengakuan atas suatu aset A financial asset, or where applicable, a part of
keuangan, atau, bila dapat diterapkan untuk a financial asset or part of a group of similar
bagian dari aset keuangan atau bagian dari financial assets, is derecognized when:
kelompok aset keuangan serupa, terjadi
apabila:
i. Hak kontraktual atas arus kas yang i. The contractual rights to receive the cash
berasal dari aset keuangan tersebut flows from these assets have ceased to
berakhir atau aset telah dialihkan; exist or the assets have been transferred;
ii. Grup telah mengalihkan hak untuk ii. The Group has transferred its rights to
menerima arus kas yang berasal dari receive cash flows from the asset or has
aset keuangan tersebut atau assumed an obligation to pay the
menanggung kewajiban untuk membayar received cash flows in full without
arus kas yang diterima tersebut tanpa material delay to a third party under a
penundaan yang signifikan terhadap “pass-through” arrangement, and either
pihak ketiga melalui suatu kesepakatan (a) the Group has transferred
penyerahan dan (a) Grup secara substantially all the risk and rewards of
substansial mengalihkan seluruh risiko the financial assets, or (b) the Group has
dan manfaat atas kepemilikan aset neither transferred nor retained
keuangan tersebut, atau (b) Grup secara substantially all the risk and rewards of
substansial tidak mengalihkan maupun the financial assets, but has transferred
tidak mempertahankan seluruh risiko dan control of the financial asset.
manfaat atas kepemilikan aset keuangan
tersebut, namun telah mengalihkan
pengendalian atas aset keuangan
tersebut.
Ketika Grup telah mengalihkan haknya untuk When the Group has transferred its rights to
menerima arus kas dari aset atau telah receive cash flows from an asset or has
menandatangani perjanjian pass-through, entered into a pass-through arrangement, it
Grup mengevaluasi apakah, dan sejauh mana, evaluates if, and to what extent, it has retained
telah mempertahankan risiko dan manfaat the risks and rewards of ownership. When it
kepemilikan. Ketika Grup tidak mengalihkan has neither transferred nor retained
atau mempertahankan secara substansial substantially all of the risks and rewards of the
seluruh risiko dan manfaat dari aset, atau asset, nor transferred control of the asset, the
mengalihkan pengendalian atas aset, Grup Group continues to recognize the transferred
terus mengakui aset yang dialihkan tersebut asset to the extent of its continuing
sejauh keterlibatannya secara berkelanjutan. involvement. In that case, the Group also
Dalam kasus tersebut, Grup juga mengakui recognizes an associated liability. The
liabilitas terkait. Aset alihan dan liabilitas transferred asset and the associated liability
terkait diukur atas dasar yang mencerminkan are measured on a basis that reflects the
hak dan kewajiban yang dimiliki Grup. rights and obligations that the Group has
retained.
Keterlibatan berkelanjutan yang berbentuk Continuing involvement that takes the form of
pemberian jaminan atas aset alihan diukur a guarantee over the transferred asset is
sebesar jumlah yang lebih rendah antara measured at the lower of the original carrying
jumlah tercatat aset alihan dan jumlah amount of the asset and the maximum amount
maksimal imbalan yang mungkin harus of consideration received that the Group could
dibayar kembali oleh Grup. be required to repay.
30
Page 197
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Aset Keuangan (lanjutan) Financial Assets (continued)
Penurunan nilai Impairment
Grup mengakui penyisihan untuk kerugian The Group recognizes an allowance for
kredit ekspektasian ("ECL") untuk seluruh expected credit losses (“ECL”) for all debt
instrumen utang yang tidak dimiliki pada nilai instruments not held at fair value through profit
wajar melalui laba rugi. ECL didasarkan pada or loss. ECL are based on the difference
selisih antara arus kas kontraktual yang jatuh between the contractual cash flows due in
tempo sesuai dengan kontrak dan seluruh accordance with the contract and all the cash
arus kas yang diperkirakan akan diterima flows that the Group expects to receive,
Grup, didiskontokan dengan SBE awal. Arus discounted at an approximation of the original
kas ekspektasian akan mencakup arus kas EIR. The expected cash flows will include cash
dari penjualan agunan yang dimiliki atau flows from the sale of collateral held or other
perbaikan risiko-kredit lain yang merupakan credit enhancements that are integral to the
bagian dari persyaratan kontraktual. contractual terms.
ECL diakui dalam dua tahap. Untuk eksposur ECLs are recognized in two stages. For credit
kredit yang belum ada peningkatan risiko exposures for which there has not been a
kredit yang signifikan sejak pengakuan awal, significant increase in credit risk since initial
ECL dilakukan untuk kerugian kredit yang recognition, ECL are provided for credit losses
diakibatkan oleh peristiwa gagal bayar yang that result from default events that are
mungkin terjadi dalam 12 bulan ke depan possible within the next 12-months (a 12-
(ECL 12 bulan). Untuk eksposur kredit yang month ECL). For those credit exposures for
telah terjadi peningkatan risiko kredit yang which there has been a significant increase in
signifikan sejak pengakuan awal, penyisihan credit risk since initial recognition, a loss
kerugian dilakukan untuk kerugian kredit yang allowance is required for credit losses
diperkirakan selama sisa umur eksposur, expected over the remaining life of the
terlepas dari waktu gagal bayar (ECL exposure, irrespective of the timing of the
sepanjang umur). default (a lifetime ECL).
Untuk piutang usaha, piutang lainnya dan aset For trade and other receivables and other
keuangan lainnya yang diukur pada biaya financial assets measured at amortized costs,
perolehan diamortisasi, Grup menerapkan the Group applies a simplified approach in
pendekatan yang disederhanakan dalam calculating ECL. Therefore, the Group does
menghitung ECL. Oleh karena itu, Grup tidak not track changes in credit risk, but instead
menelusuri perubahan dalam risiko kredit, recognizes a loss allowance based on lifetime
tetapi mengakui penyisihan kerugian ECL at each reporting date, adjusted for
berdasarkan ECL sepanjang umur pada setiap forward-looking factors specific to the debtors
tanggal pelaporan, disesuaikan dengan faktor- and the economic environment.
faktor perkiraan masa depan yang spesifik
bagi debitur dan lingkungan ekonomi.
Grup menganggap aset keuangan gagal bayar The Group considers a financial asset in
ketika pembayaran kontraktual telah lewat 90 default when contractual payments are 90
hari. Namun, dalam kasus tertentu, Grup juga days past due. However, in certain cases, the
dapat mempertimbangkan aset keuangan Group may also consider a financial asset to
mengalami gagal bayar ketika informasi be in default when internal or external
internal atau eksternal menunjukkan bahwa information indicates that the Group is unlikely
Grup tidak mungkin menerima jumlah to receive the outstanding contractual amounts
kontraktual yang terutang secara penuh in full before taking into account any credit
sebelum memperhitungkan setiap perbaikan enhancements held by the Group. A financial
risiko-kredit yang dimiliki oleh Grup. Aset asset is written off when there is no
keuangan dihapuskan jika tidak ada reasonable expectation of recovering the
ekspektasi yang wajar untuk memulihkan arus contractual cash flows.
kas kontraktual.
31
Page 198
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Liabilitas Keuangan Financial Liabilities
Pengakuan dan pengukuran awal Initial recognition and measurement
Liabilitas keuangan diklasifikasikan sebagai Financial liabilities are classified as financial
liabilitas keuangan yang diukur pada nilai liabilities at fair value through profit or loss and
wajar melalui laba rugi dan liabilitas keuangan other financial liabilities. The Group
lainnya. Grup menetapkan klasifikasi atas determines the classification of its financial
liabilitas keuangan pada saat pengakuan awal. liabilities at initial recognition.
Liabilitas keuangan pada awalnya diukur pada Financial liabilities are recognized initially at
nilai wajar dan, dalam hal pinjaman dan utang, fair value and, in the case of loans and
ditambah biaya transaksi yang dapat borrowings, inclusive of directly attributable
diatribusikan secara langsung. transaction costs.
Liabilitas keuangan Grup meliputi utang usaha The Group’s financial liabilities include trade
dan utang lain-lain, beban akrual, utang and other payables, accrued expenses, due to
kepada pihak berelasi, pinjaman jangka related parties, long-term debts, other long-
panjang, pinjaman jangka panjang lainnya, term debt, lease liabilities and short-term bank
liabilitas sewa dan utang bank jangka pendek. loan.
Pengakuan setelah pengakuan awal Subsequent measurement
Pengukuran selanjutnya dari liabilitas The measurement of financial liabilities
keuangan ditentukan oleh klasifikasinya depends on their classification as described
sebagai berikut: below:
Utang dan pinjaman Loans and borrowings
(i) Utang dan pinjaman jangka panjang (i) Long-term interest-bearing loans
yang dikenakan bunga borrowings
Ini adalah kategori yang paling relevan This is the category most relevant to the
dengan Grup. Setelah pengakuan awal, Group. After initial recognition, long-term
utang dan pinjaman berbunga jangka interest-bearing loans and borrowings
panjang diukur dengan biaya perolehan are measured at amortized acquisition
diamortisasi dengan menggunakan costs using EIR method. Gains and
metode SBE. Keuntungan dan kerugian losses are recognized in the profit or loss
diakui dalam laba rugi pada saat liabilitas when the liabilities are derecognized as
dihentikan pengakuannya dan juga well as through the EIR amortization
melalui proses amortisasi SBE. process.
Biaya perolehan diamortisasi dihitung Amortized cost is calculated by taking
dengan mempertimbangkan setiap into account any discount or premium on
diskonto atau premium atas perolehan acquisition and fee or costs that are an
dan komisi atau biaya yang merupakan integral part of the EIR. The EIR
bagian tidak terpisahkan dari SBE. amortization is included in finance costs
Amortisasi SBE dicatat sebagai beban in the profit or loss.
keuangan pada laba rugi.
Kategori ini umumnya berlaku untuk This category generally applies to
utang dan pinjaman berbunga. Untuk interest-bearing loans and borrowings.
informasi lebih lanjut, lihat Catatan 25 For more information, refer to Note 25
dan 26 and 26
(ii) Utang dan akrual (ii) Payables and accruals
Liabilitas untuk utang usaha dan utang Liabilities for current trade and other
lain-lain, biaya masih harus dibayar dan payables, accrued expenses and due to
utang kepada pihak berelasi dinyatakan related parties are stated at carrying
sebesar jumlah tercatat (jumlah amounts (notional amounts), which
nosional), yang kurang lebih sebesar nilai approximate their fair values.
wajarnya.
32
Page 199
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Liabilitas Keuangan (lanjutan) Financial Liabilities (continued)
Liabilitas keuangan yang diukur pada nilai Financial liabilities at fair value through profit
wajar melalui laba rugi or loss
Liabilitas keuangan yang diukur pada nilai Financial liabilities at fair value through profit
wajar melalui laba rugi termasuk liabilitas or loss include financial liabilities held for
keuangan yang dimiliki untuk diperdagangkan trading and financial liabilities designated upon
dan liabilitas keuangan yang ditetapkan pada initial recognition as at fair value through profit
pengakuan awal sebagai nilai wajar melalui or loss.
laba rugi.
Liabilitas keuangan diklasifikasikan sebagai Financial liabilities are classified as held for
kelompok diperdagangkan jika mereka terjadi trading if they are incurred for the purpose of
untuk tujuan pembelian kembali dalam waktu repurchasing in the near term. This category
dekat. Kategori ini juga mencakup instrumen also includes derivative financial instruments
keuangan derivatif yang dimasukkan oleh entered into by the Group that are not
Grup yang tidak ditujukan sebagai instrumen designated as hedging instruments in hedge
lindung nilai dalam hubungan lindung nilai relationships as defined by PSAK 109.
sebagaimana didefinisikan dalam PSAK 109. Separated embedded derivatives are also
Derivatif melekat yang dipisahkan juga classified as held for trading unless they are
diklasifikasikan sebagai kelompok designated as effective hedging instruments.
diperdagangkan kecuali ditetapkan sebagai
instrumen lindung nilai yang efektif.
Keuntungan atau kerugian atas liabilitas yang Gains or losses on liabilities held for trading
dimiliki untuk diperdagangkan diakui dalam are recognized in profit or loss.
laba rugi.
Liabilitas keuangan yang ditetapkan pada Financial liabilities designated upon initial
pengakuan awal pada nilai wajar melalui laba recognition at fair value through profit or loss
rugi ditetapkan pada tanggal awal pengakuan, are designated at the initial date of recognition,
dan hanya jika kriteria dalam PSAK 109 and only if the criteria in PSAK 109 are
terpenuhi. Instrumen derivatif Grup satisfied. The Group derivative financial
diklasifikasikan dalam kategori ini. instruments are classified under this category.
Penghentian pengakuan Derecognition
Liabilitas keuangan dihentikan pengakuannya A financial liability is derecognized when the
ketika liabilitas yang ditetapkan dalam kontrak the obligation specified in the contract is
dihentikan atau dibatalkan atau kadaluwarsa. discharged or cancelled or has expired.
Ketika kewajiban keuangan yang ada When an existing financial liability is replaced
digantikan oleh yang lain dari pemberi by another from the same lender on
pinjaman yang sama dengan persyaratan substantially different terms, or the terms of an
yang secara substansial berbeda, atau existing liability are substantially modified,
persyaratan dari kewajiban yang ada secara such an exchange or modification is treated as
substansial dimodifikasi, pertukaran atau the derecognition of the original liability and
modifikasi tersebut diperlakukan sebagai the recognition of a new liability. The
penghentian pengakuan kewajiban awal dan difference in the respective carrying amounts
pengakuan kewajiban baru. Selisih nilai is recognized in the consolidated statements
tercatat masing-masing diakui pada laporan of profit or loss and other comprehensive
laba rugi dan penghasilan komprehensif lain income.
konsolidasian.
Saling hapus instrumen keuangan Offsetting financial instruments
͏Aset keuangan dan liabilitas keuangan Financial assets and liabilities are offset and
disalinghapuskan dan jumlah netonya the net amount is reported in the consolidated
dilaporkan pada laporan posisi keuangan statements of financial position when there is a
konsolidasian ketika terdapat hak yang legally enforceable right to offset the
berkekuatan hukum untuk melakukan saling recognized amounts and there is an intention
hapus atas jumlah yang telah diakui tersebut to settle on a net basis, or realise the asset
dan adanya niat untuk menyelesaikan secara and settle the liability simultaneously.
neto, atau untuk merealisasikan aset dan
menyelesaikan liabilitas secara bersamaan.
33
Page 200
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Liabilitas Keuangan (lanjutan) Financial Liabilities (continued)
Instrumen Keuangan Derivatif dan Akuntansi Derivative Financial Instruments and Hedge
Lindung Nilai Accounting
Grup menggunakan instrumen keuangan The Group uses derivative financial
derivatif seperti swap tingkat suku bunga dan instruments such as interest rate swaps and
swap antar mata uang untuk melakukan cross-currency swaps to hedge its foreign
lindung nilai atas risiko mata uang asing dan currency risks and interest rate risks. Such
risiko tingkat suku bunganya. Instrumen derivative financial instruments are initially
keuangan derivatif tersebut pada awalnya recognized at fair value on the date on which a
diakui sebesar nilai wajar pada tanggal derivative contract is entered into and are
kontrak derivatif dimulai dan selanjutnya subsequently remeasured at fair value.
diukur kembali pada nilai wajar. Derivatif Derivatives are carried as financial assets
dicatat sebagai aset keuangan saat nilai when the fair value is positive and as financial
wajarnya positif dan sebagai liabilitas liabilities when the fair value is negative.
keuangan saat nilai wajarnya negatif.
Grup menerapkan akuntansi lindung nilai atas The Group applies hedge accounting to
transaksi lindung nilai yang memenuhi kriteria hedging transactions that meet the criteria for
akuntansi lindung nilai. hedge accounting.
Untuk tujuan akuntansi lindung nilai, lindung For the purpose of hedge accounting, hedges
nilai diklasifikasikan sebagai lindung nilai atas are classified as fair value hedge, cash flow
nilai wajar, lindung nilai atas arus kas dan hedge and hedge of a net investment in a
lindung nilai atas investasi neto dalam foreign operation.
kegiatan usaha luar negeri.
Pada awal hubungan lindung nilai, Grup At the inception of a hedge relationship, the
merancang dan mendokumentasikan Group formally designates and documents the
hubungan lindung nilai yang diinginkannya hedge relationship to which it wishes to apply
untuk menerapkan akuntansi lindung nilai hedge accounting, the risk management
secara formal, tujuan dan strategi manajemen objective and strategy for undertaking the
risiko untuk melakukan lindung nilai. hedge.
Dokumentasi tersebut mencakup identifikasi The documentation includes identification of
instrumen lindung nilai, item lindung nilai, sifat the hedging instrument the hedged item, the
risiko yang dilindungi nilai dan bagaimana nature of the risk being hedged and how the
Grup akan menilai apakah hubungan lindung Group will assess whether the hedging
nilai tersebut memenuhi persyaratan relationship meets the hedge effectiveness
efektivitas lindung nilai (termasuk analisis requirements (including the analysis of
sumber ketidakefektifan lindung nilai. dan sources of hedge ineffectiveness and how the
bagaimana rasio lindung nilai ditentukan). hedge ratio is determined).
Hubungan lindung nilai memenuhi syarat A hedging relationship qualifies for hedge
untuk akuntansi lindung nilai jika memenuhi accounting if it meets all of the following
semua persyaratan efektivitas berikut: effectiveness requirements:
i. terdapat 'hubungan ekonomi' antara item i. there is ‘an economic relationship’
yang dilindung nilai dan instrumen between the hedged item and the
lindung nilai; hedging instrument;
ii. efek risiko kredit tidak 'mendominasi ii. the effect of credit risk does not
perubahan nilai yang dihasilkan dari ‘dominate the value changes’ that result
hubungan ekonomi itu; from that economic relationship;
iii. rasio lindung nilai dari hubungan lindung iii. the hedge ratio of the hedging
nilai adalah perbandingan` antara jumlah relationship is the comparison between
item yang dilindung nilai dan instrumen the quantity of hedged item and hedging
lindung nilai. instrument.
34
Page 201
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
j. Instrumen Keuangan (lanjutan) j. Financial Instruments (continued)
Liabilitas Keuangan (lanjutan) Financial Liabilities (continued)
Lindung nilai arus kas Cash flow hedge
Lindung nilai arus kas digunakan untuk Cash flow hedge is used to hedge the
lindung nilai terhadap eksposur variabilitas exposure to variability in cash flows that is
arus kas yang dapat diatribusikan pada risiko attributable to foreign currency risk or interest
mata uang asing atau risiko tingkat suku rate risk associated with a recognized asset or
bunga yang terkait dengan suatu aset atau liability.
liabilitas yang diakui.
Bagian efektif atas laba atau rugi instrumen The effective portion of the gain or loss on the
lindung nilai atas arus kas diakui langsung cash flow hedging instrument is recognized
pada pendapatan komprehensif lain, directly in other comprehensive income, while
sementara bagian yang tidak efektif diakui any ineffective portion is recognized
segera dalam laporan laba rugi. immediately in profit or loss.
Grup mempunyai kontrak swap tingkat suku The Group entered into interest rate swap and
bunga dan swap antar mata uang yang cross-currency swap contracts that are used to
digunakan sebagai lindung nilai atas eksposur hedge for the exposure to changes in cash
perubahan dalam arus kas sehubungan flows due to changes in foreign exchange
dengan perubahan nilai tukar mata uang rates.
asing.
Grup merancang hanya elemen spot dari The Group designates only the spot element
kontrak forward dan swap antar mata uang of the forward and cross-currency swap
sebagai instrumen lindung nilai. Unsur masa contracts as hedging instruments. The forward
depan dari kontrak forward dan swap antar element of forward and cross-currency swap
mata uang, serta komponen nilai waktu dari contracts as well as the time value component
opsi komoditas diakui dalam OCI dan of commodity options are recognised in OCI
diakumulasikan dalam komponen terpisah dari and accumulated in a separate component of
ekuitas sebagai bagian dari penyesuaian nilai equity under fair value adjustment on cash
wajar atas instrumen lindung nilai arus kas. flow hedging instruments. Because the
Karena lindung nilai arus kas Grup tidak Group’s cash flow hedges does not lead to the
menyebabkan pengakuan item-item non- recognition of non-financial items on balance
keuangan di neraca, jumlah yang terakumulasi sheet, the amount accumulated in OCI is
dalam OCI direklasifikasi ke laba rugi sebagai reclassified to profit or loss as a
penyesuaian reklasifikasi pada periode atau reclassification adjustment in the same period
periode yang sama di mana arus kas yang or periods during which the hedged cash flows
dilindung nilai memengaruhi laba atau affect profit or loss.
kerugian.
k. Persediaan k. Inventories
Persediaan dinyatakan sebesar nilai yang Inventories are stated at the lower of cost or
lebih rendah antara biaya perolehan atau nilai net realizable value. Cost is determined using
realisasi neto. Biaya perolehan ditentukan the weighted average method.
dengan metode rata-rata tertimbang.
l. Aset Keuangan Konsesi l. Concession Financial Assets
MRPR, MCG, dan MSBT menerapkan ISAK MRPR, MCG, and MSBT apply ISAK No. 112,
No. 112, "Perjanjian Konsesi Jasa". ISAK No. “Service Concession Arrangements”. ISAK
112 menetapkan kriteria pengendalian untuk No. 112 sets out the control criteria for
perjanjian konsesi: concession arrangements:
• Pemberi konsesi mengendalikan atau • The grantor controls or regulates the
meregulasi jasa apa yang harus services that the operator must provide
diberikan oleh operator dengan using the infrastructure, to whom it must
infrastruktur, kepada siapa jasa harus provide them, and at what price, and
diberikan dan berapa harganya, dan
• Pemberi konsesi mengendalikan atas • The grantor controls any significant
setiap kepentingan residu signifikan residual interest in the infrastructure at
dalam infrastruktur pada akhir masa the end of the concession term through
perjanjian melalui kepemilikan, hak ownership, beneficial entitlement or
manfaat, atau bentuk lain. otherwise.
35
Page 202
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
l. Aset Keuangan Konsesi (lanjutan) l. Concession Financial Assets (continued)
Ciri umum adalah: The common features are:
• Pihak yang memberikan perjanjian jasa • The party granting the service
(pemberi konsesi) merupakan entitas arrangement (the grantor) is a public
sektor publik, termasuk badan sector entity, including a governmental
pemerintah, atau entitas sektor swasta body, or a private sector entity to which
yang telah diberikan tanggung jawab the responsibility for the service has been
atas jasa tersebut. devolved.
• Operator bertanggung jawab setidaknya • The operator is responsible for at least
untuk sebagian pengelolaan infrastruktur some of the management of the
dan jasa terkait dan tidak hanya infrastructure and related services and
bertindak sebagai agen untuk does not merely act as an agent on
kepentingan pemberi konsesi. behalf of the grantor.
• Kontrak menerapkan harga awal yang • The contract sets the initial prices to be
akan dikenakan oleh operator dan levied by the operator and regulates price
mengatur perubahan harga selama revisions over the period of the service
periode perjanjian jasa. arrangement.
• Operator diwajibkan untuk menyerahkan • The operator is obliged to hand over the
infrastruktur kepada pemberi konsesi infrastructure to the grantor in a specified
pada akhir periode perjanjian dalam condition at the end of the period of
kondisi yang telah ditentukan, dengan arrangement, for little or no incremental
sedikit atau tanpa imbalan tambahan, consideration, irrespective of which party
terlepas dari pihak yang awalnya initially financed it.
membiayai infrastruktur.
Karena Perjanjian Jual Beli Tenaga Listrik Since Power Purchase Agreement (“PPA”)
(“PJBTL”) oleh MRPR, MCG, dan MSBT entered by MRPR, MCG, and MSBT have
mempunyai ciri umum perjanjian jasa dan common features of a concession
infrastruktur yang timbul dari kontrak tersebut arrangement and the infrastructure arising
dikendalikan oleh pemberi konsesi, kontrak from those contracts is controlled by the
tersebut dianggap sebagai perjanjian konsesi grantor, those contracts are considered
jasa. PJBTL memberikan jaminan ambil atau service concession arrangements. The PPA
bayar yang berarti bahwa operator memiliki provides take or pay guarantees which means
hak tak bersyarat untuk menerima kas atau the operator has an unconditional right to
aset keuangan lainnya dari pemberi konsesi. receive cash or another financial asset from
Oleh karena itu, MRPR, MCG, dan MSBT the grantor. As such, MRPR, MCG, and
menerapkan model aset keuangan untuk MSBT apply the financial asset model for its
perjanjian konsesi jasanya. service concession arrangement.
m. Aset Tetap m. Property, Plant and Equipment
Aset tetap, kecuali tanah dan hak atas tanah Property, plant and equipment, except land
yang dinyatakan sebesar biaya perolehan dan and landrights which are stated at cost and not
tidak disusutkan, dinyatakan sebesar biaya depreciated, are stated at cost less
perolehan dikurangi akumulasi penyusutan accumulated depreciation and impairment
dan penurunan nilai. Biaya perolehan aset losses. Such cost includes the cost of
tetap termasuk biaya penggantian bagian dari replacing part of the property, plant and
aset tetap pada saat terjadinya biaya, jika equipment when that cost is incurred, if the
kriteria pengakuannya terpenuhi. Demikian recognition criteria are met. Likewise, when a
pula, ketika pemeriksaan utama dilakukan, major inspection is performed, its cost is
biaya pemeriksaan diakui sebagai nilai tercatat recognized in the carrying amount of the
aset sebagai penggantian jika kriteria property, plant and equipment as a
pengakuan terpenuhi. Semua biaya perbaikan replacement if the recognition criteria are
dan pemeliharaan lainnya yang tidak satisfied. All other repairs and maintenance
memenuhi kriteria pengakuan diakui pada costs that do not meet the recognition criteria
laporan laba rugi pada saat terjadinya. are recognized in profit or loss as incurred.
36
Page 203
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
m. Aset Tetap (lanjutan) m. Property, Plant and Equipment (continued)
Penyusutan dihitung dengan menggunakan Depreciation is computed using the straight-
metode garis lurus berdasarkan estimasi masa line method based on the estimated useful
manfaat ekonomis aset sebagai berikut: lives of the assets as follows:
Tahun/
Years
Bangunan dan prasarana 20 Buildings and improvements
Mesin 15 - 25 Machinery
Peralatan panel kontrol 12 Control panel equipment
Peralatan komunikasi 5 Telecommunication equipment
Peralatan 4 Tools
Leasehold improvements 5 Leasehold improvements
Perabotan, perlengkapan dan peralatan Furniture, fixtures and office
kantor 4 equipment
Kendaraan bermotor 4 Motor vehicles
Jumlah tercatat aset tetap dihentikan An item of property, plant and equipment is
pengakuannya dari laporan posisi keuangan derecognized from the consolidated
konsolidasian pada saat dilepaskan atau saat statements of financial position upon disposal
tidak ada manfaat ekonomis masa depan yang or when no future economic benefits are
diharapkan dari penggunaan atau expected from its use or disposal. Any gain or
pelepasannya. Laba atau rugi yang timbul dari loss arising on the derecognition of the asset
penghentian pengakuan aset (dihitung (calculated as the difference between the net
sebagai perbedaan antara jumlah neto hasil disposal proceeds and the carrying amount of
pelepasan dan jumlah tercatat dari aset) the asset) is recognized to profit or loss in the
dimasukkan dalam laba rugi pada tahun aset year the asset is derecognized.
tersebut dihentikan pengakuannya.
Nilai residu, masa manfaat dan metode The assets’ residual values, useful lives and
penyusutan aset ditelaah dan disesuaikan method of depreciation are reviewed and
secara prospektif, pada setiap akhir tahun adjusted prospectively, if appropriate, at each
buku. financial year end.
Aset dalam penyelesaian disajikan dalam Construction in progress is stated at cost and
“Aset Tetap” dan dinyatakan sebesar biaya presented as part of “property, plant and
perolehan. Akumulasi biaya perolehan untuk equipment”. The accumulated costs are
aset dalam penyelesaian akan dipindahkan ke reclassified to the appropriate property, plant
masing-masing akun aset tetap yang and equipment account when construction is
bersangkutan pada saat aset tersebut selesai completed and the asset is ready for its
dikerjakan dan siap digunakan sesuai dengan intended use.
tujuannya.
n. Penurunan Nilai Aset Tetap dan Aset Tak n. Impairment of Property, Plant and
Berwujud Equipment and Intangible Assets
Grup menilai apakah terdapat indikasi suatu The Group assesses at each reporting date
aset mengalami penurunan nilai. Jika terdapat whether there is an indication that an asset
indikasi tersebut atau pada saat pengujian may be impaired. If such indication exists, the
penurunan nilai aset diperlukan, maka Grup Group estimate the asset’s recoverable
membuat estimasi formal total terpulihkan aset amount. Where the carrying amount of an
tersebut. Jika nilai tercatat aset lebih besar asset exceeds its recoverable amount, the
daripada total terpulihkannya, maka aset asset is considered impaired and an
tersebut mengalami penurunan nilai dan nilai impairment loss is recognized to write down
tercatat aset diturunkan menjadi sebesar total the impaired asset to its recoverable amount.
terpulihkannya.
Penilaian dilakukan pada akhir setiap periode An assessment is made at the end of each
pelaporan apakah terdapat indikasi bahwa rugi reporting period whether there is any
penurunan nilai yang telah diakui pada periode indication that impairment losses recognized in
sebelumnya untuk aset selain goodwill prior periods for an asset other than goodwill
mungkin tidak ada lagi atau mungkin telah may no longer exist or may have decreased. If
menurun. Jika terdapat indikasi tersebut, maka any such indication exists, the recoverable
entitas mengestimasi total terpulihkan aset amount is estimated.
tersebut.
37
Page 204
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
n. Penurunan Nilai Aset Tetap dan Aset Tak n. Impairment of Property, Plant and
Berwujud (lanjutan) Equipment and Intangible Assets
(continued)
Kerugian penurunan nilai yang telah diakui A previously recognized impairment loss for an
dalam periode sebelumnya untuk aset selain asset other than goodwill is reversed only if
goodwill dipulihkan hanya jika terdapat there has been a change in the assumptions
perubahan asumsi-asumsi yang digunakan used to determine the asset’s recoverable
untuk menentukan total terpulihkan aset amount since the last impairment loss was
tersebut sejak rugi penurunan nilai terakhir recognized. If that is the case, the carrying
diakui. Dalam hal ini, total tercatat aset amount of the asset is increased to its
dinaikkan ke total terpulihkannya. Pembalikan recoverable amount. The reversal is limited so
tersebut dibatasi sehingga total tercatat aset that the carrying amount of the asset does not
tidak melebihi total terpulihkannya maupun exceed its recoverable amount, nor exceed
total tercatat, setelah dikurangi penyusutan, the carrying amount that would have been
seandainya tidak ada rugi penurunan nilai determined, net of depreciation, had no
yang telah diakui untuk aset tersebut pada impairment loss been recognized for the asset
tahun sebelumnya. Pembalikan rugi in prior years. Reversal of an impairment loss
penurunan nilai diakui dalam laporan laba rugi. is recognized in profit or loss. After such a
Setelah pembalikan tersebut, penyusutan aset reversal, the depreciation charge on the said
tersebut disesuaikan di periode mendatang asset is adjusted in future periods to allocate
untuk mengalokasikan total tercatat aset yang the asset’s revised carrying amount, less any
direvisi, dikurangi nilai sisanya, dengan dasar residual value, on a systematic basis over its
yang sistematis selama sisa umur remaining useful life.
manfaatnya.
Goodwill diuji untuk penurunan nilai setiap Goodwill is tested for impairment annually (as
tahun (per 31 Desember) dan ketika keadaan of December 31) and when circumstances
yang mengindikasikan bahwa nilai tercatat indicate that the carrying value may be
mungkin mengalami penurunan nilai. impaired. Impairment is determined for
Penurunan nilai bagi goodwill ditetapkan goodwill by assessing the recoverable amount
dengan menentukan total terpulihkan dari of each CGU (or group of CGUs) to which the
setiap UPK (atau kelompok UPK) dimana goodwill relates. Where the recoverable
goodwill terkait. Jika total terpulihkan dari UPK amount of the CGU is less than its carrying
kurang dari total tercatatnya, rugi penurunan amount, an impairment loss is recognized.
nilai diakui.
Kerugian penurunan nilai yang berhubungan Impairment losses relating to goodwill cannot
dengan goodwill tidak dapat dibalik pada be reversed in future periods.
periode yang akan datang.
o. Aset Tak Berwujud o. Intangible Assets
Biaya perolehan proyek Tanjung Jati B The acquisition cost of Tanjung Jati B project
disajikan sebagai aset takberwujud dan is presented as intangible asset and is stated
dinyatakan sebesar biaya perolehan dikurangi at cost less accumulated amortization.
akumulasi amortisasi. Amortisasi dihitung Amortization is computed using the straight-
dengan menggunakan metode garis lurus line method over the estimated useful life of
selama taksiran masa manfaat ekonomis aset the asset of twenty (20) years.
selama dua puluh (20) tahun.
Goodwill merupakan selisih neto antara harga Goodwill represents the excess of acquisiton
perolehan investasi dan bagian Grup atas nilai costs over the Group’s share of fair value of
wajar aset bersih entitas anak pada tanggal the acquired subsidiaries net assets at the
akuisisi. date of acquisition.
Perangkat lunak komputer dinyatakan sebesar Computer software is stated at cost less
biaya perolehan dikurangi akumulasi accumulated amortization. Amortization is
amortisasi. Amortisasi dihitung dengan computed on the straight-line method over
menggunakan metode garis lurus selama the estimated useful life of the asset of
taksiran masa manfaat aset selama empat (4) four (4) years.
tahun.
Biaya perolehan lisensi untuk eksplorasi Acquisition cost of license to explore for
sumber energi alam seperti energi panas bumi natural energy source such as geothermal
dan mini-hidro diakui sebagai aset energy and mini-hydro is recognized as
takberwujud dan akan diamortisasi selama intangible asset and will be amortized over the
jangka waktu lisensi sejak dimulainya kegiatan term of the license starting from the
komersial. commencement of commercial activities.
38
Page 205
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
p. Sewa p. Leases
Grup menilai pada saat insepsi kontrak The Group assesses at contract inception
apabila kontrak tersebut adalah, atau whether a contract is, or contains, a lease.
mengandung, sewa. Yaitu, bila kontrak That is, if the contract conveys the right to
tersebut memberikan hak untuk control the use of an identified asset for a
mengendalikan penggunaan aset period of time in exchange for consideration.
identifikasian selama suatu jangka waktu
untuk dipertukarkan dengan imbalan.
Grup sebagai Penyewa The Group as Lessee
Grup menerapkan pendekatan pengakuan dan The Group applies a single recognition and
pengukuran tunggal untuk seluruh sewa, measurement approach for all leases, except
kecuali untuk sewa jangka pendek dan sewa for short-term leases and leases of low-value
aset pendasarnya bernilai rendah. Grup assets. The Group recognizes lease liabilities
mengakui liabilitas sewa untuk melakukan to make lease payments and right-of-use
pembayaran sewa dan aset hak-guna yang assets representing the right to use the
mewakili hak untuk menggunakan aset underlying assets.
pendasar.
Aset hak-guna Right-of-use assets
Grup mengakui aset hak-guna pada tanggal The Group recognizes right-of-use assets at
permulaan sewa (yaitu pada 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 biaya perolehan dikurangi Right-of-use assets are measured at cost, less
akumulasi penyusutan dan rugi penurunan any accumulated depreciation and impairment
nilai, dan disesuaikan untuk setiap losses, and adjusted for any remeasurement
pengukuran kembali liabilitas sewa. Biaya of lease liabilities. The cost of right-of-use
perolehan aset hak-guna meliputi jumlah assets includes the amount of lease liabilities
liabilitas sewa yang diakui, biaya langsung recognized, initial direct costs incurred, and
awal yang dikeluarkan, dan pembayaran sewa lease payments made at or before the
yang dilakukan pada atau sebelum tanggal commencement date less any lease incentives
permulaan, dikurangi dengan insentif sewa received.
yang diterima.
Aset hak-guna Right-of-use assets
Aset hak-guna didepresiasi dengan metode Right-of-use assets are depreciated on a
garis lurus selama jangka waktu yang lebih straight-line basis over the shorter of the lease
pendek antara masa sewa dan estimasi umur term and the estimated useful lives of the
manfaat aset, sebagai berikut: assets, as follows:
Tahun/
Years
Tanah 1 - 29 Land
Bangunan 1-5 Buildings
Peralatan kantor 1-4 Office equipments
Kendaraan 1-3 Vehicles
Jika kepemilikan aset sewa beralih kepada If ownership of the leased asset transfers to
Grup pada akhir masa sewa atau biaya the Group at the end of the lease term or the
perolehan aset hak-guna merefleksikan Grup cost reflects the exercise of a purchase option,
akan mengeksekusi opsi beli, maka depreciation is calculated using the estimated
penyusutan aset hak-guna dihitung useful life of the asset. The right-of-use assets
menggunakan estimasi masa manfaat aset. are also subject to impairment in accordance
Aset hak-guna juga dievaluasi untuk with PSAK No. 236 “Impairment of Assets”.
penurunan nilainya sesuai dengan PSAK No.
236 “Penurunan Nilai Aset”.
39
Page 206
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2 IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2 SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
p. Sewa (lanjutan) p. Leases (continued)
Liabilitas sewa Lease liabilities
Pada tanggal dimulainya sewa, Grup At the commencement date of the lease, the
mengakui liabilitas sewa yang diukur pada Group recognizes lease liabilities measured at
nilai kini pembayaran sewa yang harus the present value of lease payments to be
dilakukan selama masa sewa. Pembayaran made over the lease term. The lease
sewa mencakup pembayaran tetap (termasuk payments include fixed payments (including in-
pembayaran tetap secara substansi) dikurangi substance fixed payments) less any lease
piutang insentif sewa, pembayaran sewa incentives receivable, variable lease payments
variabel yang bergantung pada indeks atau that depend on an index or a rate, and
tarif, dan jumlah yang diharapkan akan amounts expected to be paid under residual
dibayar di bawah jaminan nilai sisa. value guarantees.
Pembayaran sewa juga mencakup harga The lease payments also include the exercise
pelaksanaan dari opsi pembelian yang secara price of a purchase option reasonably certain
wajar pasti akan dilaksanakan oleh Grup dan to be exercised by the Group and payments of
pembayaran denda untuk penghentian sewa, penalties for terminating the lease, if the lease
jika masa sewa mencerminkan Grup term reflects the Group exercising the option
melaksanakan opsi untuk mengakhiri. to terminate. Variable lease payments that do
Pembayaran sewa variabel yang tidak not depend on an index or a rate are
bergantung pada indeks atau tarif diakui recognized as expenses (unless they are
sebagai beban (kecuali terjadi untuk incurred to produce inventories) in the period
menghasilkan persediaan) pada periode di in which the event or condition that triggers the
mana peristiwa atau kondisi yang memicu payment occurs.
terjadinya pembayaran.
Dalam menghitung nilai kini pembayaran In calculating the present value of lease
sewa, Grup menggunakan suku bunga payments, the Group uses its incremental
pinjaman inkremental pada tanggal dimulainya borrowing rate at the lease commencement
sewa karena tingkat bunga implisit dalam date because the interest rate implicit in the
sewa tidak dapat segera ditentukan. Setelah lease is not readily determinable. After the
tanggal permulaan, jumlah liabilitas sewa commencement date, the amount of lease
ditingkatkan untuk mencerminkan liabilities is increased to reflect the accretion of
penambahan bunga dan dikurangi untuk interest and reduced for the lease payments
pembayaran sewa yang dilakukan. Selain itu, made. In addition, the carrying amount of
nilai tercatat liabilitas sewa diukur kembali jika lease liabilities is remeasured if there is a
ada modifikasi, perubahan jangka waktu sewa, modification, a change in the lease term, a
perubahan pembayaran sewa (misalnya, change in the lease payments (e.g., changes
perubahan pembayaran masa depan akibat to future payments resulting from a change in
perubahan indeks atau kurs yang digunakan an index or rate used to determine such lease
untuk pembayaran sewa) atau perubahan payments) or a change in the assessment of
penilaian opsi untuk membeli aset yang an option to purchase the underlying asset.
mendasarinya.
Sewa jangka-pendek dan sewa aset bernilai- Short-term leases and leases of low-value
rendah assets
Grup memilih untuk tidak mengakui aset hak- The Group has elected not to recognize right-
guna dan liabilitas sewa untuk sewa jangka- of-use assets and lease liabilities for short-
pendek yang memiliki masa sewa 12 bulan term leases that have a lease term of 12
atau kurang dan sewa atas aset bernilai- months or less and leases of low-value assets.
rendah. Grup mengakui pembayaran sewa The Group recognizes the lease payments
terkait dengan sewa ini sebagai beban dengan associated with these leases as expense on a
dasar garis lurus selama masa sewa. straight-line basis over the lease term.
Grup sebagai pesewa The Group as lessor
Pada saat aset disewakan sebagai sewa When assets are leased out under a finance
keuangan, maka nilai kini dari pembayaran lease, the present value of the lease payments
sewa diakui sebagai piutang. Perbedaan is recognized as a receivable. The difference
antara piutang kotor dan nilai kini dari piutang between the gross receivable and the present
diakui sebagai pendapatan keuangan yang value of the receivable is recognized as
belum direalisasikan. unearned finance income.
40
Page 207
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2 IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2 SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
q. Perpajakan q. Taxation
Beban pajak penghasilan terdiri dari pajak kini The income tax expense comprises current
dan pajak tangguhan. Pajak diakui dalam and deferred tax. Tax is recognized in the
laporan laba rugi, kecuali jika pajak tersebut profit or loss, except to the extent that it relates
terkait dengan transaksi atau kejadian yang to items recognized in other comprehensive
diakui di pendapatan komprehensif lain atau income or directly in equity. In this case, the
langsung diakui ke ekuitas. Dalam hal ini, tax is also recognized in other comprehensive
pajak tersebut masing-masing diakui dalam income or directly in equity, respectively.
penghasilan komprehensif lain atau ekuitas.
Pajak kini Current tax
Beban pajak kini ditentukan berdasarkan laba Current tax expense is determined based on
kena pajak dalam tahun yang bersangkutan. the taxable income for the year. Tax rates
Tarif pajak yang digunakan untuk menghitung used to compute the amount are those that
jumlah tersebut adalah yang telah berlaku have been enacted at the reporting date.
pada tanggal pelaporan.
Aset dan liabilitas pajak kini untuk tahun Current tax assets and liabilities for the current
berjalan dan tahun sebelumnya diukur and prior years are measured at the amounts
sebesar jumlah yang diharapkan dapat expected to be recovered from or paid to the
direstitusi dari atau dibayarkan kepada otoritas tax authorities.
perpajakan.
Koreksi terhadap liabilitas perpajakan dicatat Amendments to taxation obligations are
saat surat ketetapan pajak diterima dan recorded when an assessment is received and
apabila dilakukan banding, ketika hasil if appealed, when the result of the appeal is
banding sudah diputuskan. Kekurangan/ determined. The underpayment/overpayment
kelebihan pembayaran pajak penghasilan of income tax are recorded as part of "Current
dicatat sebagai bagian dari “Beban Pajak Kini” Tax" in the consolidated statements of profit or
dalam laporan laba rugi dan penghasilan loss and other comprehensive income.
komprehensif lain konsolidasian.
Pajak tangguhan Deferred tax
Pajak tangguhan diakui dengan menggunakan Deferred tax is recognized using the liability
metode liabilitas atas perbedaan temporer method on temporary differences between the
antara perhitungan akuntansi dan basis financial and the tax bases of assets and
perhitungan pajak atas aset dan liabilitas pada liabilities at the financial reporting date.
tanggal pelaporan.
Aset dan liabilitas pajak tangguhan diakui atas Deferred tax assets and liabilities are
perbedaan temporer antara jumlah tercatat recognized for temporary differences between
aset dan liabilitas pada laporan posisi the carrying amount of assets and liabilities
keuangan dengan dasar pengenaan pajaknya with their tax bases at the financial reporting
pada setiap tanggal pelaporan. Aset pajak date. Deferred tax assets are recognized for
tangguhan diakui untuk seluruh perbedaan all deductible temporary differences and
temporer yang boleh dikurangkan dan accumulated tax losses that have not been
akumulasi rugi pajak yang belum utilized, if taxable income is likely to be
dikompensasikan, bila kemungkinan besar available so that the temporary differences can
laba kena pajak akan tersedia sehingga be deducted and the unutilized tax losses can
perbedaan temporer dapat dikurangkan dan be utilized.
rugi pajak belum dikompensasikan tersebut
dapat dimanfaatkan.
41
Page 208
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2 IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2 SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
q. Perpajakan (lanjutan) q. Taxation (continued)
Pajak tangguhan Deferred tax
Aset pajak tangguhan diakui untuk semua Deferred tax assets are recognized for all
perbedaan temporer yang dapat dikurangkan, deductible temporary differences, the carry
saldo kredit pajak yang tidak digunakan dan forward of unused tax credits and any unused
akumulasi rugi fiskal yang tidak terpakai. tax losses. Deferred tax assets are recognized
Aktiva pajak tangguhan diakui apabila besar to the extent that it is probable that taxable
kemungkinan bahwa jumlah penghasilan kena profit will be available against which the
pajak akan memadai untuk dikompensasi deductible temporary differences, and the
dengan perbedaan temporer yang dapat carry forward of unused tax credits and any
dikurangkan, dan penerapan kredit pajak yang unused tax losses can be utilized, except:
tidak terpakai serta akumulasi rugi fiskal yang
dapat digunakan, kecuali:
i. jika aset pajak tangguhan timbul dari i. when the deferred tax asset relating to
pengakuan awal aset atau liabilitas the deductible temporary difference
dalam transaksi yang bukan transaksi arises from the initial recognition of an
kombinasi bisnis dan tidak asset or liability in a transaction that is
mempengaruhi laba akuntansi maupun not a business combination and, at the
laba kena pajak/rugi pajak; atau time of the transaction, affects neither the
accounting profit nor taxable profit or
loss; or
ii. dari perbedaan temporer yang dapat ii. in respect of deductible temporary
dikurangkan atas investasi pada entitas differences associated with investments
anak, perusahaan asosiasi dan in subsidiaries, associates and interest in
kepentingan dalam pengaturan bersama, joint arrangements, deferred tax assets
aset pajak tangguhan hanya diakui bila are recognized only to the extent that it is
besar kemungkinannya bahwa beda probable that the temporary differences
temporer itu tidak akan dibalik dalam will reverse in the foreseeable future and
waktu dekat dan laba kena pajak dapat taxable profit will be available against
dikompensasi dengan beda temporer which the temporary differences can be
tersebut. utilized.
Jumlah tercatat aset pajak tangguhan ditelaah The carrying amount of deferred tax assets is
pada setiap tanggal pelaporan dan nilai reviewed at each reporting date and is
tercatat aset pajak tangguhan tersebut reduced to the extent that it is no longer
diturunkan apabila laba fiskal mungkin tidak probable that sufficient taxable income will be
memadai untuk mengkompensasi sebagian available in the future to enable some or all of
atau semua manfaat aset pajak tangguhan. the benefits of the deferred tax assets to be
Aset pajak tangguhan yang belum diakui realized. Deferred tax assets that have not
sebelumnya ditelaah pada setiap tanggal been recognized previously are reviewed at
pelaporan dan diakui sepanjang laba kena each reporting date and recognized to the
pajak yang akan datang kemungkinan besar extent that it has become probable that
akan tersedia untuk dipulihkan. sufficient taxable income will be available to
enable the deferred tax assets to be
recovered.
Aset dan liabilitas pajak tangguhan diukur Deferred tax assets and liabilities are
berdasarkan tarif pajak yang diharapkan akan measured based on tax rates that are
dipakai saat aset terealisasi dan liabilitas expected to apply to the year when the assets
diselesaikan berdasarkan tarif pajak dan are realized and liabilities are settled based on
peraturan perpajakan yang berlaku atau yang the tax rates and tax laws that have been
secara substantif telah berlaku pada tanggal enacted or substantively enacted at the
laporan posisi keuangan konsolidasian. consolidated statements of financial position
date.
Aset pajak tangguhan dan liabilitas pajak Deferred tax assets and deferred tax liabilities
tangguhan saling hapus jika terdapat hak are offset if there is a legal right to off-set
secara hukum untuk melakukan saling hapus deferred tax assets against deferred tax
atas aset pajak kini terhadap liabilitas pajak liabilities and the deferred tax assets and
kini atau aset dan liabilitas pajak tangguhan liabilities pertain to the same entity.
pada entitas yang sama.
42
Page 209
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2 IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2 SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
q. Perpajakan (lanjutan) q. Taxation (continued)
Pajak pertambahan nilai Value added tax
Pendapatan, beban-beban dan aset-aset Revenue, expenses and assets are
diakui neto atas jumlah PPN kecuali: recognized net of the amount of VAT except:
• PPN yang muncul dari pembelian aset • Where the VAT incurred on a purchase of
atau jasa yang tidak dapat dikreditkan, assets or services is not recoverable, in
yang dalam hal ini PPN diakui sebagai which case the VAT is recognized as part
bagian dari biaya perolehan aset atau of the cost of acquisition of the asset or as
sebagai bagian dari item beban-beban part of the expense item as applicable; and
yang terkait; dan
• Piutang dan utang yang disajikan termasuk • Receivables and payables that are stated
dengan jumlah PPN. with the amount of VAT included.
Jumlah PPN neto yang diajukan untuk The net amount of VAT which is claimed for
direstitusi, atau terutang kepada, kantor pajak restitution from, or payable to, the taxation
termasuk sebagai bagian dari aset atau authorities is included as part of assets or
liabilitas pada laporan posisi keuangan liabilities in the consolidated statement of
konsolidasian. financial position.
Pajak penghasilan pilar dua Pillar Two income taxes
Sebagai tanggapan terhadap penerapan In response to the implementation of the
kerangka Pilar Dua Organisasi untuk Kerja Organisation for Economic Co-operation and
Sama dan Pembangunan Ekonomi Development (“OECD”) Pillar Two framework,
(Organisation for Economic Co-operation and on December 31, 2024, Indonesian
Development atau "OECD"), pada tanggal 31 Government implemented Pillar Two
Desember 2024, Pemerintah Indonesia framework through Ministry of Finance
menerapkan kerangka Pilar Dua melalui Regulation No. 136/2024 (PMK 136/2024).
Peraturan Menteri Keuangan No. 136/2024 The Pillar Two model rules as implemented
(PMK 136/2024). Aturan model Pilar Dua under PMK 136/2024 will take effect for fiscal
sebagaimana diterapkan dalam PMK years beginning on or after January 1, 2025.
136/2024 akan berlaku untuk tahun fiskal yang For the year ended December 31, 2024, the
dimulai pada atau setelah tanggal 1 Januari Group has applied amendments to PSAK 212:
2025. Untuk tahun yang berakhir pada 31 Income Taxes, which provide mandatory
Desember 2024, Grup telah menerapkan temporary exception from recognizing or
amandemen PSAK 212: Pajak Penghasilan, disclosing deferred taxes related to Pillar Two.
yang memberikan pengecualian wajib
sementara dari pengakuan atau
pengungkapan pajak tangguhan terkait Pilar
Dua.
r. Liabilitas Imbalan Kerja r. Provision for Employee Service
Entitlements
Grup mengakui imbalan kerja karyawan The Group recognizes employee benefits
sesuai dengan Undang-Undang based on the Labor Law No. 13/2003 dated
Ketenagakerjaan No. 13/2003 tanggal 25 March 25, 2003 ("Law No. 13"), Collective
Maret 2003 ("Undang-Undang No. 13"), Labor Agreement ("CLA") and Company
Perjanjian Kerja Bersama ("PKB") dan Regulations ("CR") in accordance with its
Peraturan Perusahaan ("PP") sesuai dengan policies whereby the Company makes benefit
kebijakannya dimana Perusahaan payments to employees who have worked for
memberikan pembayaran tunjangan kepada a certain number of years/which were still
karyawan yang telah bekerja selama beberapa effective as of December 31, 2024. Provisions
tahun tertentu/yang masih berlaku pada for such employee benefits are estimated
tanggal 31 Desember 2024. Provisi untuk based on the actuarial valuation prepared by
imbalan kerja tersebut diestimasi berdasarkan an independent actuary, using the projected
penilaian aktuarial yang dilakukan oleh unit credit method. This benefit is unfunded.
aktuaris independen, dengan menggunakan
metode projected unit credit. Manfaat ini tidak
didanai.
43
Page 210
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2 IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2 SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
r. Liabilitas Imbalan Kerja (lanjutan) r. Provision for Employee Service
Entitlements (continued)
Untuk imbalan kerja karyawan, pengukuran For employee retirement benefits, re-
ulang, yang terdiri dari keuntungan dan measurement, comprising of actuarial gains
kerugian aktuarial, langsung diakui dalam and losses, is recognized immediately in the
laporan posisi keuangan konsolidasian consolidated statements of financial position
dengan debit atau kredit yang sesuai dengan with a corresponding debit or credit to retained
saldo laba melalui Penghasilan Komprehensif earnings through Other Comprehensive
Lain pada periode terjadinya. Pengukuran Income in the period in which they occur. Re-
kembali tidak direklasifikasi ke laba atau rugi measurements are not reclassified to profit or
pada periode berikutnya. Biaya jasa lalu diakui loss in subsequent periods. Past service costs
pada laba rugi pada tanggal yang lebih awal are recognized in profit or loss on the earlier of
antara tanggal amandemen atau kurtailmen the date of the plan amendment or curtailment
program dan tanggal pada saat Grup and the date that the Group recognizes
mengakui biaya restrukturisasi terkait. restructuring related costs.
Bunga neto dihitung dengan menerapkan Net interest is calculated by applying the
tingkat diskonto atas kewajiban atau aset discount rate to the net defined benefit liability
imbalan pasti. Biaya layanan terdiri dari biaya or asset. Service costs comprise current
layanan saat ini dan biaya jasa lalu, service costs and past service costs, gains
keuntungan dan kerugian pada kurtailmen dan and losses on curtailments and non-routine
penyelesaian non-rutin, jika ada. Beban atau settlements, if any. Net interest expense or
pendapatan bunga neto dan biaya jasa diakui income, and service costs are recognized in
dalam laba rugi. profit or loss.
s. Investasi pada Entitas Asosiasi dan s. Investment in Associates and Joint
Ventura Bersama Ventures
Entitas asosiasi adalah entitas yang mana An associate is an entity over which the Group
Grup memiliki pengaruh signifikan. Pengaruh has significant influence. Significant influence
signifikan adalah kekuasaan untuk is the power to participate in the financial and
berpartisipasi dalam keputusan kebijakan operating policy decisions of the investee, but
keuangan dan operasional investee, tetapi not control or joint control over those policies.
tidak mengendalikan atau mengendalikan
bersama atas kebijakan tersebut.
Ventura bersama adalah pengaturan bersama A joint venture is a type of joint arrangement
yang para pihaknya memiliki pengendalian whereby the parties that have joint control of
bersama atas pengaturan memiliki hak atas the arrangement have rights to the net assets
aset neto dari ventura bersama. Pengendalian of the joint venture. Joint control is the
bersama adalah persetujuan kontraktual untuk contractually agreed sharing of control of an
berbagi pengendalian atas suatu pengaturan, arrangement, which exists only when
yang ada hanya ketika keputusan tentang decisions about the relevant activities require
aktivitas relevan mensyaratkan persetujuan unanimous consent of the parties sharing
dengan suara bulat dari seluruh pihak yang control.
berbagi pengendalian.
44
Page 211
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Investasi pada Entitas Asosiasi dan s. Investment in Associates and Joint
Ventura Bersama (lanjutan) Ventures (continued)
Sesuai dengan metode ekuitas, investasi pada Under the equity method, the investment in an
entitas asosiasi dan ventura bersama diakui associate and joint venture is initially
pada awalnya sebesar biaya perolehan. Nilai recognized at cost. The carrying amount of the
tercatat investasi tersebut selanjutnya investment is adjusted to recognize changes in
disesuaikan untuk mengakui perubahan pasca the Group’s share of net assets of the
perolehan dalam bagian Grup atas aset neto associate and joint venture since the
dari entitas asosiasi dan ventura bersama acquisition date. Goodwill relating to the
tersebut sejak tanggal akuisisi. Goodwill associate and joint venture is included in the
sehubungan dengan entitas asosiasi diakui carrying amount of the investment and is
dalam nilai tercatat investasi dan tidak neither amortized nor individually tested for
diamortisasi maupun dilakukan pengujian impairment.
penuruan nilai secara individual.
Laporan laba rugi dan penghasilan The consolidated statements of profit or loss
komprehensif lain konsolidasian and other comprehensive income reflects the
mencerminkan bagian Grup atas hasil operasi Group’s share of the results of operations of
dari entitas asosiasi dan ventura bersama. Bila the associates and joint venture. Any change
terdapat perubahan dalam pendapatan in other comprehensive income (OCI) of those
komprehensif lainnya pada entitas asosiasi investees is presented as part of the Group’s
dan ventura bersama, disajikan sebagai OCI. In addition, when there has been a
pendapatan komprehensif lainnya Grup. Bila change recognized directly in the equity of the
terdapat perubahan yang diakui langsung associate, the Group recognizes its share of
pada ekuitas dari entitas asosiasi, Grup any changes, when applicable, in the
mengakui bagiannya atas perubahan tersebut consolidated statements of changes in equity.
dan mengungkapkan hal ini, jika dapat Unrealized gains and losses resulting from
diterapkan, dalam laporan perubahan ekuitas transactions between the Group and the
konsolidasian. Laba atau rugi yang belum associate and joint venture are eliminated to
direalisasi sebagai hasil dari transaksi antara the extent of the interest in the associate and
Grup dengan entitas asosiasi dan ventura joint venture.
bersama dieliminasi pada jumlah sesuai
dengan jumlah kepentingan Grup dalam
entitas asosiasi dan ventura bersama.
Laporan keuangan entitas asosiasi dan The financial statements of the associate and
ventura bersama disusun untuk periode joint venture are prepared for the same
pelaporan yang sama dengan Grup. Jika reporting period as the Group. When
diperlukan, penyesuaian dilakukan untuk necessary, adjustments are made to bring
menyeragamkan dengan kebijakan akuntansi their accounting policy in line with those of the
Grup. Group.
Setelah penerapan metode ekuitas, Grup After application of the equity method, the
menentukan apakah diperlukan untuk Group determines whether it is necessary to
mengakui rugi penurunan nilai atas investasi recognize an impairment loss on its
dalam entitas asosiasi dan ventura bersama. investment in its associate and joint venture.
Grup menentukan pada setiap tanggal At its reporting date, the Group determines
pelaporan apakah terdapat bukti yang objektif whether there is objective evidence that the
yang mengindikasikan bahwa investasi dalam investment in the associate is impaired. If
entitas asosiasi mengalami penurunan nilai. there is such evidence, the Group calculates
Dalam hal terdapat bukti yang objektif, Grup the amount of impairment as the difference
menghitung jumlah penurunan nilai between the recoverable amount of the
berdasarkan selisih antara jumlah terpulihkan associate and joint venture and its carrying
atas investasi dalam entitas asosiasi dan value, and then recognizes the loss as “Share
ventura bersama dan nilai tercatatnya dan of net income (loss) of associates and joint
mengakui kerugian tersebut sebagai “Bagian venture” in the profit or loss.
laba (rugi) dari entitas asosiasi dan ventura
bersama” di dalam laporan laba rugi.
Pada saat kehilangan pengaruh signifikan Upon loss of significant influence over the
terhadap entitas asosiasi dan ventura associate and joint venture, the Group
bersama, Grup mengukur dan menilai measures and recognizes any retained
investasi yang tersisa pada nilai wajarnya. investment at its fair value. Any difference
Selisih yang timbul atas nilai tercatat dengan between the carrying amount of the associate
nilai wajarnya pada saat kehilangan pengaruh upon loss of significant influence or joint
signifikan dan hasil yang diterima pada saat control and the fair value of the retained
pelepasan diakui dalam laporan laba rugi. investment and proceeds from disposal is
recognized in profit or loss.
45
Page 212
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Investasi pada Entitas Asosiasi dan s. Investment in Associates and Joint
Ventura Bersama (lanjutan) Ventures (continued)
Investasi dicatat dengan menggunakan An investment is accounted for using the
metode ekuitas sejak tanggal investasi equity method from the date on which it
tersebut memenuhi definisi entitas asosiasi becomes an associate or a joint venture. On
atau ventura bersama. Pada saat perolehan acquisition of the investment, any difference
investasi, setiap selisih antara biaya perolehan between the cost of the investment and the
investasi dengan bagian entitas atas nilai entity's share of the net fair value of the
wajar neto aset dan liabilitas teridentifikasi dari investee's identifiable assets and liabilities is
investee dicatat dengan cara sebagai berikut: accounted for as follows:
a. Goodwill yang terkait dengan entitas a. Goodwill relating to an associate or a
asosiasi atau ventura bersama termasuk joint venture is included in the carrying
dalam jumlah tercatat investasi. Amortisasi amount of the investment. Amortization
goodwill tersebut tidak diperkenankan. of that goodwill is not permitted.
b. Setiap selisih lebih bagian entitas atas nilai b. Any excess of the entity's share of the
wajar neto aset dan liabilitas teridentifikasi net fair value of the investee's identifiable
dari investee terhadap biaya perolehan assets and liabilities over the cost of the
investasi dimasukkan sebagai penghasilan investment is included as income in the
dalam menentukan bagian entitas atas determination of the entity's share of the
laba rugi entitas asosiasi atau ventura associate’s or joint venture's profit or loss
bersama pada periode investasi diperoleh. in the period in which the investment is
acquired.
Penyesuaian terhadap bagian entitas atas Appropriate adjustments to the entity's share
laba rugi entitas asosiasi atau ventura of the associate's or joint venture's profit or
bersama setelah akuisisi dilakukan untuk loss after acquisition are made in order to
mencatat, sebagai contoh, penyusutan dari account, for example, for depreciation of the
aset berdasarkan nilai wajarnya pada tanggal depreciable assets based on their fair values
perolehan. Sedangkan, penyesuaian terhadap at the acquisition date. Similarly, appropriate
bagian entitas atas laba rugi entitas asosiasi adjustments to the entity's share of the
atau ventura bersama setelah akuisisi associate's or joint venture's profit or loss after
dilakukan atas rugi penurunan nilai yang acquisition are made for impairment losses
diakui, misalnya goodwill atau aset tetap. such as for goodwill or property, plant and
equipment.
Grup menilai kepemilikannya pada Operasi The Group assesses its interest in the Sarulla
Panas Bumi Sarulla (Grup Kontraktror Geothermal Operation (Joint Operation
Pengendalian Bersama) sebagai operasi Contractor Group) as joint operations. A joint
bersama. Operasi bersama adalah salah satu operation is a type of joint arrangement
jenis pengaturan bersama dimana para pihak whereby the parties that have joint control of
yang memiliki pengendalian bersama atas the arrangement have rights to the assets and
pengaturan memiliki hak atas aset, kewajiban obligation for the liabilities, relating to the
atas liabilitas, terkait dengan pengaturan arrangement.
tersebut.
Sehubungan dengan kepemilikannya dalam In relation to its interest in joint operations, the
operasi bersama, Grup mengakui: Group recognizes its:
• Aset, mencakup bagiannya atas setiap • Assets, including its share of any assets
aset yang dimiliki bersama; held jointly;
• Liabilitas, mencakup bagiannya atas • Liabilities, including its share of any
liabilitas yang terjadi bersama; liabilities incurred jointly;
• Pendapatan dari penjualan bagiannya atas • Revenue from the sale of its share of the
output yang dihasilkan dari operasi output arising from the joint operation;
bersama;
• Bagiannya atas pendapatan dari penjualan • Share of the revenue from the sale of the
output oleh operasi bersama; dan output by the joint operation; and
• Beban, mencakup bagiannya atas setiap • Expenses, including its share of any
beban yang terjadi secara bersama-sama. expenses incurred jointly.
46
Page 213
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
s. Investasi pada Entitas Asosiasi dan s. Investment in Associates and Joint
Ventura Bersama (lanjutan) Ventures (continued)
Penyesuaian dilakukan dalam laporan Adjustments are made in the consolidated
keuangan konsolidasian untuk mengeliminasi financial statements to eliminate the Group’s
bagian Grup atas saldo, transaksi dan share of intragroup balances, transactions and
keuntungan dan kerugian yang belum unrealized gains and losses on such
direalisasi dari transaksi tersebut antara Grup transactions between the Group and its joint
dan ventura bersama. Kerugian dari transaksi venture. Losses on transactions are
diakui segera jika kerugian tersebut recognized immediately if the loss provides
memberikan bukti penurunan nilai realisasi evidence of a reduction in the net realizable
neto aset lancar atau kerugian penurunan value of current assets or an impairment loss.
nilai.
t. Penentuan Nilai Wajar t. Fair Value Measurement
Grup mengukur instrumen keuangan seperti The Group measure financial instruments,
derivatif pada nilai wajar setiap tanggal such as derivatives, at fair value at each
pelaporan. Grup juga mengukur pada reporting date. The Group also initially
pengakuan awal instrumen keuangan, dan measures financial instruments, and assets
aset dan liabilitas yang diperoleh melalui and liabilities of the acquirees upon business
kombinasi bisnis pada nilai wajar. Grup juga combinations at fair value. They also measure
mengukur jumlah terpulihkan dari unit certain recoverable amounts of the cash
penghasil kas (“UPK”) tertentu berdasarkan generating unit (“CGU”) using fair value less
nilai wajar dikurangi biaya pelepasan, dan aset cost of disposal (“FVLCD”), and certain
keuangan tertentu pada nilai wajar melalui financial assets at fair value through other
penghasilan komprehensif lain (“NWPKL”). comprehensive income (“FVOCI”).
Nilai wajar adalah harga yang akan diterima Fair value is the price that would be received
untuk menjual suatu aset atau harga yang to sell an asset or paid to transfer a liability in
akan dibayar untuk mengalihkan suatu an orderly transaction between market
liabilitas dalam transaksi teratur antara pelaku participants at the measurement date. The fair
pasar pada tanggal pengukuran. Pengukuran value measurement is based on the
nilai wajar berdasarkan asumsi bahwa presumption that the transaction to sell the
transaksi untuk menjual aset atau asset or transfer the liability takes place either:
mengalihkan liabilitas terjadi di:
• Pasar utama untuk aset dan liabilitas • In the principal market for the asset or
tersebut; atau liability; or
• Jika tidak terdapat pasar utama, di pasar • In the absence of a principal market, in
yang paling menguntungkan untuk aset the most advantageous market for the
atau liabilitas tersebut. Grup harus asset or liability the principal or the most
memiliki akses ke pasar utama atau advantageous market must be accessible
pasar yang paling menguntungkan by the Group.
tersebut.
Nilai wajar aset dan liabilitas diukur The fair value of an asset or a liability is
menggunakan asumsi yang akan digunakan measured using the assumptions that market
pelaku pasar ketika menentukan harga aset participants would use when pricing the asset
atau liabilitas tersebut, dengan asumsi bahwa or liability, assuming that market participants
pelaku pasar bertindak dalam kepentingan act in their economic best interest.
ekonomi terbaiknya.
Pengukuran nilai wajar aset non-keuangan A fair value measurement of a non-financial
mempertimbangkan kemampuan pelaku pasar asset takes into account a market participant's
untuk menghasilkan keuntungan ekonomi ability to generate economic benefits by using
dengan menggunakan aset tersebut dalam the asset in its highest and best use or by
penggunaan tertinggi dan terbaiknya atau selling it to another market participant that
dengan menjualnya ke pelaku pasar lain yang would use the asset in its highest and best
akan menggunakan aset tersebut dalam use.
penggunaan tertinggi dan terbaiknya.
47
Page 214
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
t. Penentuan Nilai Wajar (lanjutan) t. Fair Value Measurement (continued)
Grup menggunakan teknik penilaian yang The Group uses valuation techniques that are
sesuai dalam keadaan dan dimana data yang appropriate in the circumstances and for which
memadai tersedia untuk mengukur nilai wajar, sufficient data are available to measure fair
memaksimalkan penggunaan input yang dapat value, maximizing the use of relevant
diobservasi yang relevan dan meminimalkan observable inputs and minimizing the use of
penggunaan input yang tidak dapat unobservable inputs.
diobservasi.
Semua aset dan liabilitas yang nilai wajarnya All assets and liabilities for which fair value is
diukur atau diungkapkan dalam laporan measured or disclosed in the financial
keuangan konsolidasian dikategorikan dalam statements are categorized within the fair
hirarki nilai wajar, sebagaimana dijelaskan di value hierarchy, described as follows, based
bawah ini, berdasarkan tingkatan level input on the lowest level input that is significant to
yang terendah yang signifikan terhadap the fair value measurement as a whole:
pengukuran nilai wajar secara keseluruhan:
• Level 1 - harga kuotasian (tanpa • Level 1 - quoted (unadjusted) market
penyesuaian) di pasar aktif untuk aset atau prices in active markets for identical
liabilitas yang identik assets or liabilities
• Level 2 - teknik penilaian di mana tingkat • Level 2 - valuation techniques for which
level input terendah yang signifikan the lowest-level input that is significant to
terhadap pengukuran nilai wajar dapat the fair value measurement is directly or
diobservasi baik secara langsung atau indirectly observable
tidak langsung
• Level 3 - teknik penilaian dimana tingkat • Level 3 - valuation techniques for which
level input terendah yang signifikan the lowest-level input that is significant to
terhadap pengukuran nilai wajar tidak the fair value measurement is
dapat diobservasi baik secara langsung unobservable
atau tidak langsung
Untuk aset dan liabilitas yang diukur secara For assets and liabilities that are recognized in
berulang dalam laporan keuangan the consolidated financial statements on a
konsolidasian, Grup menentukan apakah recurring basis, the Group determines whether
perpindahan antar level hirarki telah terjadi transfers have occurred between levels in the
dengan melakukan evaluasi pengelompokan hierarchy by re-assessing categorisation
(berdasarkan level input yang terendah yang (based on the lowest level input that is
signifikan terhadap pengukuran nilai wajar significant to the fair value measurement as a
secara menyeluruh) pada setiap akhir periode whole) at the end of each reporting period.
pelaporan.
Untuk tujuan penentuan pengungkapan nilai For the purpose of fair value disclosures, the
wajar, Grup menentukan kelompok aset dan Group has determined classes of assets and
liabilitas berdasarkan sifat, karakteristik dan liabilities based on the nature, characteristics
risiko dari aset dan liabilitas dan level dari and risks of the asset or liability and the level
hirarki nilai wajar yang dijelaskan di atas. of the fair value hierarchy as explained above.
u. Informasi Segmen u. Segment Information
Segmen adalah komponen Grup yang dapat A segment is a distinguishable component of
dibedakan dalam menghasilkan produk the Group that is engaged either in providing
tertentu (segmen bisnis) atau dalam certain products (business segment), or in
menghasilkan produk dalam sebuah providing products within a particular
lingkungan ekonomi khusus (segmen economic environment (geographical
geografis), yang merupakan subyek yang segment), which is subject to risks and
mempunyai risiko dan manfaat yang berbeda rewards that are different from those of other
dari segmen lainnya. segments.
Pendapatan, beban, hasil, aset dan liabilitas Segment revenue, expenses, results, assets,
segmen termasuk hal-hal yang dapat and liabilities include items directly attributable
diatribusikan secara langsung terhadap to a segment as well as those that can be
sebuah segmen dan juga yang dapat allocated on a reasonable basis to that
dialokasikan pada dasar yang wajar pada segment. They are determined before
segmen tersebut. Segmen tersebut ditentukan intragroup balances and intragroup
sebelum saldo intragrup dan transaksi transactions are eliminated.
intragrup dieliminasi.
48
Page 215
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
u. Informasi Segmen (lanjutan) u. Segment Information (continued)
Untuk tujuan manajemen, Grup dibagi menjadi For management purposes, the Group is
segmen operasi berdasarkan produk dan jasa organized into operating segments based on
yang dikelola secara independen oleh masing- their products and services which are
masing pengelola segmen yang bertanggung independently managed by the respective
jawab atas kinerja dari masing-masing segment managers responsible for the
segmen. Para pengelola segmen melaporkan performance of the respective segments under
secara langsung kepada manajemen their charge. The segment managers report
Perusahaan yang secara teratur mengkaji laba directly to the management who regularly
segmen sebagai dasar untuk mengalokasikan review the segment results in order to allocate
sumber daya ke masing-masing segmen dan resources to the segments and to assess the
untuk menilai kinerja segmen. segment performance.
Pengungkapan tambahan pada masing- Additional disclosures on each of these
masing segmen terdapat dalam Catatan 41, segments are shown in Note 41, including the
termasuk faktor yang digunakan untuk factors used to identify the reportable
mengidentifikasi segmen yang dilaporkan dan segments and the measurement basis of
dasar pengukuran informasi segmen. segment information.
v. Laba per Saham v. Earnings per Share
Laba per saham dihitung berdasarkan rata- Earnings per share is computed based on the
rata tertimbang jumlah saham yang beredar weighted average number of issued and fully
selama periode yang bersangkutan. paid shares during the period.
Grup tidak mempunyai efek berpotensi saham The Group has no outstanding dilutive
biasa yang bersifat dilutif pada tanggal 31 potential ordinary shares as of December 31,
Desember 2024. 2024.
w. Biaya Pinjaman w. Borrowing Costs
Biaya pinjaman terdiri dari beban bunga dan Borrowing costs consist of interest expenses
biaya lain yang ditanggung Grup sehubungan and other financing charges that the Group
dengan peminjaman dana. Biaya pinjaman incurs in connection with the borrowing funds.
yang dapat diatribusikan langsung dengan Borrowing costs that are directly attributable to
perolehan, pembangunan atau pembuatan the acquisition, construction or production of a
aset kualifikasian dikapitalisasi sebagai bagian qualifying asset are capitalized as part of the
biaya perolehan aset tersebut. Biaya pinjaman cost of the related asset. All other borrowing
lainnya diakui sebagai beban pada saat terjadi costs are recognized as expenses when
Grup. incurred.
x. Peristiwa Setelah Periode Pelaporan x. Events After Reporting Period
Peristiwa setelah akhir tahun yang Post year-end events that provide additional
memberikan informasi tambahan tentang information about the Group’s position at end
posisi Grup pada akhir periode pelaporan of reporting period (adjusting events) are
(peristiwa penyesuaian) dicerminkan dalam reflected in the consolidated financial
laporan keuangan konsolidasian. Peristiwa statements. Post year-end events that are not
setelah akhir tahun yang tidak disesuaikan adjusting events are disclosed in the notes to
diungkapkan dalam catatan atas laporan the consolidated financial statements when
keuangan konsolidasian jika material. material.
49
Page 216
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
y. Perubahan Kebijakan Akuntansi dan y. Changes in Accounting Policies and
Pengungkapan Disclosures
Grup menerapkan pertama kali seluruh The Group made first time adoption of all the
standar baru dan/atau yang direvisi yang new and/or revised standards effective for the
berlaku efektif untuk periode yang dimulai periods beginning on or after January 1, 2024,
pada atau setelah 1 Januari, 2024 termasuk including the following revised standards that
standar yang direvisi berikut ini yang have affected the consolidated financial
statements of the Group:
mempengaruhi laporan keuangan
konsolidasian Grup:
Pilar Standar Akuntansi Keuangan Financial Accounting Standards Pillars
• Pilar 1 Standar Akuntansi Keuangan • Pillar 1 International Financial Accounting
Internasional, Standards,
• Pilar 2 Standar Akuntansi Keuangan • Pillar 2 Indonesian Financial Accounting
Indonesia (PSAK), Standards (PSAK),
• Pilar 3 Standar Akuntansi Keuangan • Pillar 3 Indonesian Financial Accounting
Indonesia untuk Entitas Swasta/Standar Standards for Private Entities/Indonesian
Akuntansi Keuangan Indonesia untuk Financial Accounting Standards for
Entitas Tanpa Akuntabilitas Publik, dan Entities without Public Accountability, and
• Pilar 4 Standar Akuntansi Keuangan • 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
dan tidak ada modifikasi dari Standar IFRS, is translated in a word-for-word basis and
termasuk tanggal efektifnya. Entitas yang there is no modifications from IFRS Standards,
memenuhi persyaratan dapat menerapkan including the effective date. Entities that meet
standar ini, sejak tanggal efektif. the requirements can apply this standard, from
the effective date.
Nomenklatur Standar Akuntansi Keuangan Financial Accounting Standards Nomenclature
Standar ini mengatur penomoran baru untuk
standar akuntansi keuangan yang berlaku di This standard regulates the new numbering for
Indonesia yang diterbitkan oleh DSAK IAI. financial accounting standards applicable in
Indonesia issued by DSAK IAI.
Amandemen tersebut berlaku efektif untuk The amendments are effective for annual
periode pelaporan tahunan yang dimulai pada reporting periods beginning on or after
atau setelah 1 Januari 2024 dan diterapkan January 1, 2024 and shall be applied
secara retrospektif.
retrospectively.
Tidak memiliki dampak terhadap pelaporan These have no impact to the financial
keuangan Grup, kecuali pengungkapan yang reporting of the Group, except for related
terkait dengan amandemen tersebut. disclosures.
50
Page 217
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
y. Perubahan Kebijakan Akuntansi dan y. Changes in Accounting Policies and
Pengungkapan (lanjutan) Disclosures (continued)
Amandemen PSAK 201 (sebelumnya dirujuk Amendment of PSAK 201 (previously referred
sebagai PSAK 1):Liabilitas Jangka Panjang to as PSAK 1):Non-current Liabilities with
dengan Kovenan Covenants
Amandemen ini menentukan persyaratan The amendments specify the requirements for
untuk mengklasifikasikan suatu liabilitas classifying liabilities as current or non-current
sebagai jangka pendek atau jangka panjang and clarify:
dan 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,
• klasifikasi tersebut tidak dipengaruhi oleh • classification is not affected by the
kemungkinan entitas akan menggunakan likelihood that an entity will exercise its
haknya 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 liability
suatu liabilitas konversi tidak akan will not impact its classification..
berdampak pada klasifikasinya.
Selain itu, persyaratan telah diperkenalkan In addition, a requirement has been introduced
untuk mewajibkan pengungkapan ketika suatu to require disclosure when a liability arising
kewajiban timbul dari pinjaman perjanjian from a loan agreement is classified as non-
diklasifikasikan sebagai tidak lancar dan hak current and the entity’s right to defer
entitas untuk menunda penyelesaian settlement is contingent on compliance with
bergantung pada kepatuhan terhadap future covenants within twelve months .
persyaratan di masa depan dalam waktu dua
belas bulan.
Amandemen ini tidak memiliki dampak The amendments had no impact on the
terhadap laporan keuangan konsolidasian Group’s consolidated financial statements’.
Grup.
Amandemen PSAK 116 (sebelumnya dirujuk Amendment of PSAK 116 (previously referred
sebagai PSAK 73): Liabilitas Sewa dalam Jual to as PSAK 73):Lease liability in a Sale and
Beli dan Sewa-balik. 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 recognize 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.
Grup menilai bahwa amandemen tersebut The Group assessed that the amendments
tidak berdampak material terhadap pelaporan have no material impact on the Group’s
keuangan Grup. financial reporting.
51
Page 218
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
2. IKHTISAR INFORMASI KEBIJAKAN AKUNTANSI 2. SUMMARY OF MATERIAL ACCOUNTING
MATERIAL (lanjutan) POLICIES INFORMATION (continued)
y. Perubahan Kebijakan Akuntansi dan y. Changes in Accounting Policies and
Pengungkapan (lanjutan) Disclosures (continued)
Amandemen PSAK 207(sebelumnya dirujuk Amendment of PSAK 207(previously referred
sebagai PSAK 2) dan PSAK 107(sebelumnya to as PSAK 2) and PSAK 107(previously
dirujuk sebagai PSAK 60): Pengaturan referred to as PSAK 60): Supplier Finance
Pembiayaan Pemasok. Arrangements
Amandemen PSAK 207 dan PSAK 107 This amendments to PSAK 207 and PSAK
mengklarifikasi karakteristik pengaturan 107 clarify the characteristics of supplier
pembiayaan pemasok dan mensyaratkan finance arrangements and require additional
pengungkapan tambahan atas pengaturan disclosure of such arrangements. The
pembiayaan pemasok tersebut. Persyaratan disclosure requirements in the amendments
pengungkapan dalam amandemen ini are intended to assist users of financial
dimaksudkan untuk membantu pengguna statements in understanding the effects of
laporan keuangan dalam memahami dampak supplier finance arrangements on an entity’s
pengaturan pembiayaan pemasok terhadap liabilities, cash flows and exposure to liquidity
liabilitas, arus kas, dan eksposur terhadap risk.
risiko likuiditas suatu entitas.
Grup menilai bahwa amandemen tersebut The Group assessed that the amendments
tidak berdampak material terhadap pelaporan have no material impact on the Group’s
keuangan Grup. financial reporting.
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN ESTIMATES AND ASSUMPTIONS
Penyusunan laporan keuangan konsolidasian The preparation of consolidated financial
sesuai dengan Standar Akuntasi Keuangan di statements in accordance with Indonesian Financial
Indonesia mengharuskan manajemen untuk Accounting Standards requires management to
membuat pertimbangan, estimasi dan asumsi yang make judgments, estimates and assumptions that
mempengaruhi laporan keuangan. Ketidakpastian affect amounts reported therein. Due to inherent
mengenai asumsi dan estimasi tersebut dapat uncertainty in making estimates, actual results to
mengakibatkan penyesuaian material terhadap nilai be reported in future periods may be based on
tercatat aset dan liabilitas dalam periode pelaporan amounts that differ from those estimates.
berikutnya.
Pertimbangan Judgments
Dalam proses penerapan kebijakan akuntansi In the process of applying the Group’s accounting
Grup, manajemen telah membuat penilaian sebagai policies, the management has made the following
berikut yang memiliki dampak signifikan terhadap judgments which have significant effect on the
jumlah-jumlah dalam laporan keuangan amounts in the consolidated financial statements:
konsolidasian ini:
Mata Uang Fungsional Functional Currency
Mata uang fungsional adalah mata uang dari The functional currency is the currency of the
lingkungan ekonomi primer dimana Grup primary economic environment in which the Group
beroperasi. Manajemen mempertimbangkan mata operate. The management considered the currency
uang yang paling mempengaruhi pendapatan dan that mainly influences the revenue and cost of
beban dari jasa yang diberikan serta rendering services and other indicators in
mempertimbangkan indikator lainnya dalam determining the currency that most faithfully
menentukan mata uang yang paling tepat represents the economic effects of the underlying
menggambarkan pengaruh ekonomi dari transaksi, transactions, events and conditions.
kejadian dan kondisi yang mendasari.
52
Page 219
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgments (continued)
Klasifikasi Aset dan Liabilitas Keuangan Classification of Financial Assets and Liabilities
Untuk menentukan kategori klasifikasi dan To determine the financial instruments classification
pengukuran instrumen keuangan, PSAK 109 and measurement category, PSAK 109 requires all
mengharuskan semua aset keuangan, kecuali financial assets, except equity instruments and
instrument ekuitas dan derivatif, untuk dievaluasi derivatives, to be assessed based on a
berdasarkan kombinasi dari model bisnis entitas combination of the entity’s business model for
untuk mengelola aset dan karakteristik arus kas managing the assets and the instrument’s
kontraktual instrumen. Klasifikasi instrumen contractual cash flow characteristics. The
keuangan pada saat pengakuan awal tergantung classification of financial instruments at initial
pada dan perjanjian kontraktual dan model bisnis recognition depends on their contractual terms and
untuk mengelola instrument tersebut. the business model for managing the instruments.
Grup menentukan model bisnis tersebut The Group determines its business model at the
menggunakan dengan tingkat yang terbaik yang level that best reflects how it manages groups of
mencerminkan bagaimana perusahaan mengatur financial assets to achieve its business objective,
aset keuangan untuk mencapai tujuan bisnisnya, such that the risks that affect the performance of
hal tersebut mempengaruhi kinerja model bisnisnya the business model (and the financial assets held
(dan aset keuangan yang dikelola oleh bisnis within that business model) and, in particular, the
model) dan secara khusus, bagaimana risiko way those risks are managed. As a second step of
tersebut dikelola. Sebagai langkah selanjutnya dari its classification process, the Group assesses the
proses klasifikasi, Grup mengevaluasi perjanjian contractual terms of the financial asset to identify
kontraktual aset keuangan untuk menentukan whether they meet the SPPI test.
apakah mereka memenuhi persyaratan tes SPPI.
Klasifikasi aset dan liabilitas keuangan di The classification of the financial assets and
ungkapkan pada Catatan 2j. liabilities are disclosed in Note 2j.
Mengevaluasi dampak periode opsi pada masa Evaluating the impact of option periods on lease
sewa - Grup sebagai penyewa terms - Group as lessee
Grup menentukan masa sewa sebagai periode The Group determines the lease term as the non-
sewa yang tidak dapat dibatalkan, dan juga periode cancellable term of the lease, together with any
yang dicakup oleh opsi untuk memperpanjang sewa periods covered by an option to extend the lease if
jika opsi cukup pasti untuk dieksekusi, atau periode it is reasonably certain to be exercised, or any
yang dicakup oleh opsi untuk menghentikan sewa periods covered by an option to terminate the
jika opsi cukup pasti untuk tidak dieksekusi. lease, if it is reasonably certain not to be exercised.
Untuk kontrak sewa yang memiliki opsi For any contracts with include extension and
perpanjangan dan penghentian, Grup menerapkan termination options, the Group applies judgement in
pertimbangan dalam mengevaluasi apakah cukup evaluating whether it is reasonably certain whether
pasti untuk mengeksekusi opsi perperpanjangan or not to exercise the option to renew or terminate
atau penghentian sewa. Dengan kata lain, Grup the lease. That is, it considers all relevant factors
mempertimbangkan semua faktor relevan yang that create an economic incentive for it to exercise
menciptakan insentif ekonomi untuk melakukan either the renewal or termination. After the
perpanjangan atau penghentian. Setelah tanggal commencement date, the Group reassesses the
permulaan, Grup menilai ulang masa sewa jika lease term if there is a significant event or change
terdapat peristiwa atau perubahan signifikan dalam in circumstances that is within its control and
kondisi yang berada dalam pengendalian Grup dan affects its ability to exercise or not to exercise the
mempengaruhi kemampuan untuk mengeksekusi option to renew or to terminate.
atau untuk tidak mengeksekusi opsi perpanjangan
atau penghentian.
53
Page 220
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgments (continued)
Penilaian Perjanjian Kontraktual Contractual Arrangement Assessment
Manajemen menggunakan pertimbangannya dalam The management exercises its judgment in
menentukan apakah perjanjian kontraktual dengan determining whether or not the contractual
PT PLN (Persero), PLN Batam, PT PLN (Persero) arrangements with PT PLN (Persero), PLN Batam,
Wilayah Sumatera Selatan, Jambi, dan Bengkulu PT PLN (Persero) Wilayah Sumatera Selatan,
(“PT PLN WS2JB”) dan PT PLN (Persero) Unit Jambi, dan Bengkulu (“PT PLN WS2JB”) and PT
Distribusi Jawa Barat (“PT PLNUIDJB”) termasuk PLN (Persero) Unit Distribusi Jawa Barat (“PT
dalam ruang lingkup ISAK No. 112, “Perjanjian PLNUIDJB”) fall within the scope of ISAK No. 112,
Konsesi Jasa”. Manajemen melakukan evaluasi “Service Concession Arrangements”. Management
terhadap syarat dan ketentuan perjanjian untuk evaluates the terms and conditions of the
menentukan apakah suatu perjanjian merupakan agreement to determine whether an agreement is a
perjanjian konsesi jasa dengan kriteria service concession agreement with the criteria as
sebagaimana diatur dalam ISAK No. 112 berikut: stipulated in ISAK No. 112 as follows:
a. Pemberi konsesi mengendalikan atau a. the grantor controls or regulates what services
meregulasi jasa apa yang harus diberikan the operator must provide with the
oleh operator dengan infrastruktur, kepada infrastructure, to whom it must provide them,
siapa jasa harus diberikan dan berapa and at what price; and
harganya; dan
b. Pemberi konsesi mengendalikan - melalui b. the grantor controls - through ownership,
kepemilikan, hak manfaat, atau bentuk lain - beneficial entitlement or otherwise-any
atas setiap kepentingan residu signifikan significant residual interest in the
dalam infrastruktur pada akhir masa infrastructure at the end of the term of the
perjanjian. arrangement.
Kepentingan dalam Pengaturan Bersama Interest in Joint Arrangements
Pertimbangan diperlukan untuk menentukan kapan Judgment is required to determine when the Group
Grup memiliki pengendalian bersama terhadap have joint control, which requires an assessment of
sebuah pengaturan, yang memerlukan penilaian the relevant activities and when the decisions in
dari aktivitas yang relevan dan apabila keputusan relation to those activities require unanimous
sehubungan dengan aktivitas tersebut consent. The Group have determined that the
mengharuskan persetujuan dengan suara bulat. relevant activities for its joint arrangements are
Grup menetapkan bahwa aktivitas relevan bagi those relating to the operating and capital decisions
pengaturan bersama adalah aktivitas yang of the arrangement, such as: the approval the
berhubungan dengan keputusan keuangan, capital expenditure, and appointing, remunerating
operasional dan modal dari pengaturan tersebut. and terminating the key management personnel or
Pertimbangan-pertimbangan yang dibuat dalam service providers of the joint arrangement. The
menentukan pengendalian bersama adalah sama considerations made in determining joint control are
dengan penentuan pengendalian atas entitas anak. similar to those necessary to determine control over
subsidiaries.
Pertimbangan juga diperlukan untuk menentukan Judgment is also required to classify a joint
klasifikasi suatu pengaturan bersama, arrangement as either a joint operation or joint
diklasifikasikan sebagai pengaturan bersama atau venture. Classifying the arrangement requires the
ventura bersama. Pengklasifikasian tersebut Group to assess its rights and obligations arising
mengharuskan Grup menilai hak dan kewajibannya from the arrangement. Specifically, the Group
yang timbul dari pengaturan bersama. Secara consider:
khusus, Grup mempertimbangkan:
• Struktur pengaturan bersama - apakah dibentuk • The structure of the joint arrangement - whether
melalui badan hukum terpisah it is structured through a separate vehicle
• Ketika pengaturan bersama dibentuk melalui • When the arrangement is structured through a
badan hukum terpisah, Grup juga separate vehicle, the Group also considers the
mempertimbangkan hak dan kewajiban para rights and obligations arising from:
pihak yang timbul dari:
– Bentuk hukum dari badan hukum terpisah; – The legal form of the separate vehicle;
– Persyaratan pengaturan kontraktual; dan – The terms of the contractual arrangement;
and
– Fakta dan keadaan lainnya, jika relevan. – Other facts and circumstances, when
relevant.
54
Page 221
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Pertimbangan (lanjutan) Judgments (continued)
Kepentingan dalam Pengaturan Bersama (lanjutan) Interest in Joint Arrangements (continued)
Penilaian ini sering memerlukan pertimbangan yang This assessment often requires significant
signifikan dan kesimpulan yang berbeda baik atas judgment and a different conclusion on joint control
kesimpulan mengenai pengendalian bersama dan and also whether the arrangement is a joint
apakah suatu pengaturan adalah sebuah operasi operation or a joint venture, may materially impact
bersama atau ventura bersama, dapat secara the accounting.
material mempengaruhi perlakuan akuntansinya.
Grup memiliki pengaturan bersama di Operasi The Group have a joint arrangement in the Sarulla
Panas Bumi Sarulla (Grup Kontraktror Geothermal Operation (Joint Operation Contractor
Pengendalian Bersama) yang tidak terstruktur Group) which is not structured through a separate
melalui badan hukum terpisah. Struktur dan vehicle. This structure and the terms of the
persyaratan pengaturan kontrak ini menunjukkan contractual arrangement indicate that the Group
bahwa Grup memiliki hak atas aset dan kewajiban has rights to the assets and obligations for the
untuk liabilitas tersebut. Kesimpulan akhirnya liabilities. The final conclusion was that the
adalah bahwa pengaturannya berupa operasi arrangement was a joint operation.
gabungan.
Grup memiliki pengaturan bersama di PT The Group have a joint arrangement in PT
Medcopower Solar Sumbawa yang terstruktur Medcopower Solar Sumbawa which is structured
melalui badan hukum terpisah. Struktur dan through a separate vehicle. This structure and the
persyaratan pengaturan kontrak ini menunjukkan terms of the contractual arrangement indicate that
bahwa Grup memiliki hak atas aset neto the Group has rights to the net assets of the
pengaturan tersebut. Kesimpulan akhirnya adalah arrangement. The final conclusion was that the
bahwa pengaturannya berupa ventura bersama. arrangement was a joint venture. The investment in
Investasi pada ventura bersama dicatat joint venture is accounted for using the equity
menggunakan metode ekuitas. method.
Perpajakan Taxes
Ketidakpastian atas interpretasi dari peraturan Uncertainties exist with respect to the interpretation
pajak yang kompleks, perubahan peraturan pajak of complex tax regulations, changes in tax laws,
dan jumlah dan timbulnya penghasilan kena pajak and the amount and timing of future taxable
di masa depan, dapat menyebabkan penyesuaian income, could necessitate future adjustments to tax
di masa depan atas penghasilan dan beban pajak income and expense already recorded.
yang telah dicatat.
Pertimbangan juga dilakukan dalam menentukan Judgment is also involved in determining the
penyisihan atas pajak penghasilan badan. Terdapat provision for corporate income tax. There are
transaksi dan perhitungan tertentu yang penentuan certain transactions and computation for which the
pajak akhirnya adalah tidak pasti dalam kegiatan ultimate tax determination is uncertain during the
usaha normal. ordinary course of business.
Grup mengakui liabilitas atas pajak penghasilan The Group recognizes liabilities for expected
badan berdasarkan estimasi apakah akan terdapat corporate income tax issues based on estimates of
tambahan pajak penghasilan badan. Penjelasan whether additional corporate income tax will be
lebih rinci mengenai pajak penghasilan due. Further details regarding taxation are
diungkapkan dalam Catatan 23. disclosed in Note 23.
Estimasi dan Asumsi Estimates and Assumptions
Asumsi utama masa depan dan sumber utama The key assumptions concerning the future and
ketidakpastian estimasi lain pada tanggal pelaporan other key sources of estimation uncertainty at the
yang memiliki risiko signifikan yang mungkin reporting date that have a significant risk of causing
mengakibatkan penyesuaian yang material a material adjustment to the carrying amounts of
terhadap nilai tercatat aset dan liabilitas untuk assets and liabilities within the next financial year
periode berikutnya diungkapkan di bawah ini. Grup are disclosed below. The Group based its
mendasarkan estimasi dan asumsi pada parameter estimates and assumptions on parameters
yang tersedia pada saat laporan keuangan available when the consolidated financial
konsolidasian disusun. Asumsi dan situasi statements were prepared. Existing circumstances
mengenai perkembangan masa depan tersebut and assumptions about future developments may
mungkin berubah akibat perubahan pasar atau change due to market changes or circumstances
situasi yang timbul di luar kendali Grup. Perubahan arising beyond the control of the Group. Such
tersebut dicerminkan dalam asumsi terkait pada changes in the assumptions are reflected when
saat terjadinya. they occur.
55
Page 222
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
Manfaat Pensiun Retirement Benefits
Beban manfaat pensiun berdasarkan UU No. Retirement benefits expense under Law No.
13/2003 ditentukan dengan menggunakan penilaian 13/2003 is determined using actuarial valuations.
aktuarial. Penilaian aktuarial melibatkan asumsi The actuarial valuation involves assumptions about
tentang tingkat diskonto, kenaikan gaji tahunan dan discount rates, annual salary increases and
tingkat kematian. Namun dikarenakan sifat jangka mortality rates. Due to the long-term nature of this
panjang dari liabilitas ini, estimasi tersebut adalah obligation, such estimates are subject to significant
subjek dari ketidakpastian yang signifikan. Rincian uncertainty. The details of retirement benefits
atas liabilitas manfaat pensiun diungkapkan pada obligations are discussed in Note 28.
Catatan 28.
Aset Pajak Tangguhan Deferred Tax Assets
Aset pajak tangguhan diakui atas seluruh rugi fiskal Deferred tax assets are recognized to the extent
dan beda temporer yang dapat dikurangkan yang that it is probable that sufficient taxable income will
belum digunakan sepanjang besar be available against which deferred tax assets can
kemungkinannya bahwa penghasilan kena pajak be utilized. However, there is no assurance that the
akan tersedia sehingga rugi fiskal tersebut dapat Company or Subsidiaries will generate sufficient
digunakan. Namun, tidak ada jaminan bahwa taxable income to allow all or part of the deferred
Perusahaan atau entitas anak akan menghasilkan tax assets to be utilized. The Group evaluate their
penghasilan kena pajak yang memadai untuk projected performance in assessing the sufficiency
memungkinkan seluruh atau sebagian aset pajak of future taxable income.
tangguhan dapat digunakan. Grup mengevaluasi
proyeksi kinerja mereka dalam menilai kecukupan
penghasilan kena pajak di masa depan.
Evaluasi atas Penurunan Nilai Aset Evaluation of Asset Impairment
Grup melakukan penelaahan atas aset tetap, The Group review property, plant and equipment,
investasi jangka panjang tertentu dan aset tak certain long term investment and intangible assets
berwujud selain goodwill, untuk penurunan nilai. Ini other than goodwill, for impairment of value. This
termasuk mempertimbangkan indikasi penurunan includes considering certain indications of
tertentu seperti perubahan signifikan dalam impairment such as significant changes in asset
penggunaan aset, penurunan nilai aset, keusangan usage, significant decline in asset’s market value,
atau kerusakan fisik aset secara signifikan, kinerja obsolescence or physical damage of an asset,
yang kurang signifikan dibandingkan dengan significant underperformance relative to expected
perkiraan hasil operasi masa depan historis dan historical or projected future operating results and
proyeksi dan industri negatif atau tren ekonomi significant negative industry or economic trends.
yang signifikan. Aset tetap, investasi jangka Property, plant and equipment, certain long- and
panjang dan aset tak berwujud selain goodwill diuji intangible assets other than goodwill are tested for
untuk penurunan nilai apabila ada indikasi bahwa impairment when there are indicators that their
jumlah tercatatnya mungkin tidak dapat dipulihkan. carrying amounts may not be recoverable.
Grup juga mengkaji aset keuangan mereka untuk The Group also review their financial assets for
penurunan nilai. Hal ini memerlukan perkiraan arus impairment of value. This requires an estimation of
kas masa depan dari piutang dengan bukti the future cash flows from receivables with
penurunan nilai objektif. objective evidence of impairment.
Pengukuran Nilai Wajar Fair Value Measurement
Ketika nilai wajar aset keuangan dan liabilitas When the fair values of financial assets and
keuangan yang tercatat dalam laporan posisi financial liabilities recorded in the consolidated
keuangan konsolidasian tidak dapat diukur statements of financial position cannot be
berdasarkan harga yang berlaku di pasar aktif, measured based on quoted prices in active
maka nilai wajarnya diukur dengan menggunakan markets, their fair value is measured using
teknik penilaian termasuk model discounted cash valuation techniques including the discounted cash
flow (“DCF”). Masukan untuk model ini diambil dari flow (“DCF”) model. The inputs to these models are
pasar yang dapat diamati jika memungkinkan, taken from observable markets where possible, but
namun jika hal ini tidak memungkinkan, tingkat where this is not feasible, a degree of judgement is
penilaian diperlukan dalam menetapkan nilai wajar. required in establishing fair values. Judgements
Penilaian meliputi pertimbangan input seperti risiko include considerations of inputs such as liquidity
likuiditas, risiko kredit dan volatilitas. Perubahan risk, credit risk and volatility. Changes in
asumsi mengenai faktor - faktor tersebut dapat assumptions about these factors could affect the
mempengaruhi nilai wajar instrumen keuangan reported fair value of financial instruments.
yang dilaporkan.
56
Page 223
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
3. PERTIMBANGAN, ESTIMASI DAN ASUMSI 3. SIGNIFICANT ACCOUNTING JUDGMENTS,
AKUNTANSI YANG SIGNIFIKAN (lanjutan) ESTIMATES AND ASSUMPTIONS (continued)
Estimasi dan Asumsi (lanjutan) Estimates and Assumptions (continued)
Provisi kerugian kredit ekspektasian atas piutang Provision for expected credit losses of trade
usaha receivables
Penerapan PSAK No. 109 menyebabkan The implementation of PSAK No. 109 resulted in a
perubahan terhadap penilaian signifikan estimasi change to the assessment of the significant
dan asumsi akuntansi terhadap provisi untuk accounting estimates and judgements related to
kerugian kredit ekspektasian atas piutang. Grup provision for expected credit loss of receivables.
menerapkan pendekatan yang disederhanakan The Group applies a simplified approach to
untuk mengukur kerugian kredit ekspektasian yang measure expected credit losses which uses a
menggunakan cadangan kerugian kredit lifetime expected loss allowance for all trade and
ekspektasian seumur hidup untuk seluruh piutang non-trade receivables. In determining expected
usaha. Dalam penentuan kerugian kredit credit losses, management is required to exercise
ekspektasian, manajemen diharuskan untuk judgement in defining what is considered to be a
menggunakan pertimbangan dalam mendefinisikan significant increase in credit risk and in making
apa yang dianggap sebagai kenaikan risiko kredit assumptions and estimates to incorporate relevant
yang signifikan dan dalam pembuatan asumsi dan information about past events, current conditions
estimasi, untuk menghubungkan informasi yang and forecasts of economic conditions. Judgement
relevan tentang kejadian masa lalu, kondisi terkini has been applied in determining the lifetime and
dan perkiraan atas kondisi ekonomi. Pertimbangan point of initial recognition of receivables.
diaplikasikan dalam menentukan periode seumur
hidup dan titik pengakuan awal piutang.
Tingkat provisi yang spesifik dievaluasi oleh The level of a specific provision is evaluated by
manajemen dengan dasar faktor-faktor yang management on the basis of factors that affect the
memengaruhi tingkat tertagihnya piutang tersebut. collectibility of the accounts. In these cases, the
Dalam kasus ini, Grup menggunakan pertimbangan Group uses judgement based on the best available
berdasarkan fakta dan kondisi terbaik yang tersedia facts and circumstances, including but not limited to
meliputi tetapi tidak terbatas pada jangka waktu the length of the Group’s relationship with the
hubungan Grup dengan pelanggan dan status customers and the customer’s credit status based
kredit pelanggan berdasarkan laporan dari pihak on third-party credit rating reports and known
ketiga dan faktor-faktor pasar yang telah diketahui, market factors, to record specific reserves for
untuk mencatat pencadangan spesifik untuk customers against amounts due in order to reduce
pelanggan terhadap jumlah jatuh tempo untuk the Group’s receivables to amounts that it expects
mengurangi piutang Grup menjadi jumlah yang to collect. When there is no such available credit
diharapkan tertagih. Ketika tidak ada informasi rating information, using the lowest investment
peringkat kredit yang tersedia, menggunakan grade credit rating is the best estimate for the
peringkat kredit investasi terendah adalah estimasi Group with keeping the historical transactions
terbaik bagi Grup dengan menjaga transaksi between the Group and borrowers.
historis antara Grup dan peminjam.
Menentukan suku bunga pinjaman inkremental Determining the incremental borrowing rate to be
yang digunakan sebagai tingkat diskonto used as discount factor
Dalam menentukan liabilitas sewa Grup, suku In determining the Group’s lease liabilities, the
bunga pinjaman inkremental yang digunakan incremental borrowing rates used as discount
sebagai tingkat diskonto dalam mendiskontokan factors in discounting lease payments have been
pembayaran sewa ditetapkan berdasarkan established based on a consistent approach
pendekatan yang secara konsisten yang reflecting the Group’s borrowing rate, the currency
mencerminkan tingkat pinjaman Grup, mata uang of the liabilities, the duration of the lease term, and
liabilitas, masa sewa, dan rentang kredit untuk the credit spread for the legal entity entering into
badan hukum yang bersepakat dalam kontrak the lease contract.
sewa.
57
Page 224
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
4. KAS DAN SETARA KAS 4. CASH AND CASH EQUIVALENTS
Akun ini terdiri dari: This account consists of:
2024 2023
Kas 607.603.043 517.602.837 Cash
Bank Bank
Pihak berelasi Related parties
Rupiah Rupiah
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
1906 Tbk (Catatan 8a) 33.578.786.831 264.581.434.655 Indonesia 1906 Tbk (Note 8a)
Dolar Amerika Serikat United States Dollar
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
1906 Tbk (Catatan 8a) 46.249.892.268 33.740.116.788 Indonesia 1906 Tbk (Note 8a)
Pihak ketiga Third parties
Rupiah Rupiah
PT Bank Mandiri (Persero) Tbk 148.372.823.624 149.764.207.299 PT Bank Mandiri (Persero) Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 55.105.617.257 51.556.010.446 (Persero) Tbk
PT Bank Syariah Indonesia Tbk 37.360.452.683 23.966.436.702 PT Bank Syariah Indonesia Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 22.110.561.285 22.727.809.942 (Persero) Tbk
The Bank of Tokyo Mitsubishi UFJ, The Bank of Tokyo Mitsubishi
Ltd. 1.189.595.554 15.030.349.571 UFJ, Ltd.
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 1.113.923.630 1.257.993.439 (Persero) Tbk
PT Bank KEB Hana Indonesia 216.600.928 - PT Bank KEB Hana Indonesia
PT Bank Maybank Indonesia Tbk 50.527.119 55.405.951 PT Bank Maybank Indonesia Tbk
PT Bank CIMB Niaga Tbk 8.439.786 216.925.018 PT Bank CIMB Niaga Tbk
PT Bank Tabungan Negara PT Bank Tabungan Negara
Syariah - 29.759.056.813 Syariah
PT Bank DBS Indonesia - 254.209.504 PT Bank DBS Indonesia
PT Permata Bank Tbk - 58.575.111 PT Permata Bank Tbk
PT Bank Bukopin Tbk - 55.759.472 PT Bank Bukopin Tbk
Dolar Amerika Serikat United States Dollar
PT Bank Mandiri (Persero) Tbk 207.552.752.776 155.308.245.345 PT Bank Mandiri (Persero) Tbk
The Bank of Tokyo Mitsubishi UFJ, The Bank of Tokyo Mitsubishi
Ltd. 20.426.833.247 232.355.047.450 UFJ, Ltd.
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 10.296.351.523 61.220.154.705 (Persero) Tbk
PT Bank Syariah Indonesia Tbk 10.053.205.546 153.915.072.905 PT Bank Syariah Indonesia Tbk
PT Bank Maybank Indonesia Tbk 702.290.457 2.193.969.047 PT Bank Maybank Indonesia Tbk
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 62.975.072 8.755.209 (Persero) Tbk
Mizuho Bank, Ltd. 11.632.761 10.824.961 Mizuho Bank, Ltd.
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 10.707.325 32.497.545 (Persero) Tbk
PT Bank CIMB Niaga Tbk - 379.019.472 PT Bank CIMB Niaga Tbk
PT Bank DBS Indonesia - 3.249.847 PT Bank DBS Indonesia
58
Page 225
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
4. KAS DAN SETARA KAS (lanjutan) 4. CASH AND CASH EQUIVALENTS (continued)
2024 2023
Pihak ketiga (lanjutan) Third parties (continued)
Pound Sterling British Pound
PT Bank Mandiri (Persero) Tbk - 135.040.812 PT Bank Mandiri (Persero) Tbk
Dolar Singapura Singapore Dollar
PT Bank Mandiri (Persero) Tbk - 75.041.279 PT Bank Mandiri (Persero) Tbk
Sub-total 594.473.969.672 1.198.661.209.288 Sub-total
Deposito berjangka Time deposits
Pihak berelasi Related parties
Rupiah Rupiah
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
1906 Tbk (Catatan 8a) 316.500.000.000 117.500.000.000 Indonesia 1906 Tbk (Note 8a)
Dolar Amerika Serikat United States Dollar
PT Bank Woori Saudara Indonesia PT Bank Woori Saudara
1906 Tbk (Catatan 8a) 662.642.000.000 562.684.000.000 Indonesia 1906 Tbk (Note 8a)
Pihak ketiga Third parties
Rupiah Rupiah
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 31.000.000.000 51.000.000.000 (Persero) Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 20.000.000.000 10.000.000.000 (Persero) Tbk
PT Bank Mandiri (Persero) Tbk 11.000.000.000 11.000.000.000 PT Bank Mandiri (Persero) Tbk
Dolar Amerika Serikat United States Dollar
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 56.567.000.000 - (Persero) Tbk
Sub-total 1.097.709.000.000 752.184.000.000 Sub-total
Total 1.692.790.572.715 1.951.362.812.125 Total
Tingkat suku bunga per tahun untuk deposito Annual interest rates on time deposits:
berjangka:
2024 2023
Rupiah 2,25% - 6,50% 2,25% - 6,00% Rupiah
Dolar Amerika Serikat 4,50% - 5,50% 2,50% - 5,30% United States Dollar
Kas di bank memiliki tingkat suku bunga Cash in banks earns interest at floating rates based
mengambang berdasarkan suku bunga bank on daily bank deposit rates.
harian.
Deposito berjangka ditempatkan untuk berbagai Time deposits are places for varying periods of
periode antara satu (1) sampai tiga (3) bulan between one (1) to three (3) months depending on
tergantung pada kebutuhan kas Grup. the immediate cash requirement of the Group.
Pada tanggal 31 Desember 2024 dan 2023, tidak As of December 31, 2024 and 2023, there are no
ada kas dan setara kas yang dijadikan jaminan atas cash and cash equivalents that are pledged as
utang dan pinjaman lainnya. collateral to loans and others borrowings.
59
Page 226
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
5. REKENING BANK DAN DEPOSITO BERJANGKA 5. RESTRICTED CASH IN BANKS AND TIME
YANG DIBATASI PENGGUNAANNYA DEPOSIT
Akun ini terdiri dari: This account consists of:
2024 2023
Rekening bank yang dibatasi
penggunaannya Restricted cash in banks
Rupiah Rupiah
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk - 8.229.375.000 (Persero) Tbk
Dolar Amerika Serikat United States Dollar
PT Bank Syariah Indonesia Tbk 12.409.255.359 13.886.356.341 PT Bank Syariah Indonesia Tbk
Sub-total 12.409.255.359 22.115.731.341 Sub-total
Deposito berjangka yang dibatasi
penggunaannya Restricted time deposit
Rupiah Rupiah
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 24.769.935.000 26.042.575.000 (Persero) Tbk
Total 37.179.190.359 48.158.306.341 Total
Tingkat suku bunga per tahun untuk deposito Annual interest rates on restricted time deposit:
berjangka yang dibatasi penggunaannya:
2024 2023
Rupiah 3,75% - 5,00% 3,00% - 6,00% Rupiah
Pada tanggal 31 Desember 2023, rekening bank As of December 31, 2023, restricted cash in bank
yang dibatasi penggunaannya (dalam Rupiah) (in Rupiah) with PT Bank Negara Indonesia
dengan PT Bank Negara Indonesia (Persero) Tbk (Persero) Tbk represents reserve account for
merupakan reserve account untuk pembayaran interest payment from MPI loan (Note 25).
bunga dari pinjaman MPI (Catatan 25).
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, restricted cash
rekening bank yang dibatasi penggunaannya in bank (in US Dollar) with PT Bank Syariah
(dalam Dolar AS) dengan PT Bank Syariah Indonesia Tbk consist of a debt service account for
Indonesia Tbk terdiri dari debt service account loan principal and interest payments from ELB loan
untuk pembayaran pokok pinjaman dan bunga (Note 25).
pinjaman ELB (Catatan 25).
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, restricted time
deposito berjangka yang dibatasi penggunaannya deposit (in Rupiah) with PT Bank Rakyat Indonesia
(dalam Rupiah) dengan PT Bank Rakyat Indonesia (Persero) Tbk are maintained in connection with
(Persero) Tbk diadakan sehubungan dengan Operation and Maintenance Agreement in TJBPS
Perjanjian Operasi dan Pemeliharaan pada TJBPS (Note 38).
(Catatan 38).
60
Page 227
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
6. PIUTANG USAHA - PIHAK KETIGA 6. TRADE RECEIVABLES - THIRD PARTIES
Akun ini terdiri dari: This account consists of:
a. Berdasarkan Pelanggan a. By Customer
2024 2023
PT PLN (Persero) 313.740.226.525 126.927.924.710 PT PLN (Persero)
PT PLN Batam (Catatan 38) 93.143.989.098 90.094.851.528 PT PLN Batam (Note 38)
PT PLN (Persero) Wilayah PT PLN (Persero) Wilayah
Sumatera Selatan, Jambi dan Sumatera Selatan, Jambi dan
Bengkulu (Catatan 38) 28.095.369.472 24.458.429.273 Bengkulu (Note 38)
PT PLN Tanjung Jati B (Catatan PT PLN Tanjung Jati B (Note
38) 23.814.983.625 21.103.277.071 38)
PT PLN (Persero) Unit Induk PT PLN (Persero) Unit Induk
Distribusi Jawa Barat 5.689.040.474 3.639.991.418 Distribusi Jawa Barat
PT Inti Karya Persada Teknik 3.428.250.000 - PT Inti Karya Persada Teknik
Sub-total 467.911.859.194 266.224.474.000 Sub-total
Aset kontrak 65.572.044.236 13.877.394.327 Contract asset
Total 533.483.903.430 280.101.868.327 Total
Pada tanggal 31 Desember 2024, aset kontrak As of December 31, 2024, contract asset
merupakan akumulasi biaya mobilisasi kontrak represents the unamortised accumulated
O&M Timor di Perusahaan yang belum mobilization costs O&M Timor in the Company
diamortisasi dan pendapatan yang belum and unbilled revenue for incentive fee based
ditagih atas pendapatan insentif berdasarkan on annual operational performance.
pencapaian kinerja operasional tahunan.
Pada tanggal 31 Desember 2023, aset kontrak As of December 31, 2023, contract asset
merupakan pendapatan yang belum ditagih represents the unbilled revenue for incentive
atas pendapatan insentif berdasarkan fee based on the annual operational
pencapaian kinerja operasional tahunan. performance.
b. Berdasarkan Umur b. By Aging Category
Lancar dan
Telah jatuh tempo dan tidak mengalami penurunan nilai/
tidak
Past due but not impaired
mengalami
penurunan Di antara
nilai/ 91-120 Penurunan
Neither past Kurang dari Di antara Di antara hari/ Lebih dari nilai secara
Total/ due nor 30 hari/ 30-60 hari/ 61-90 hari/ Between 120 hari/ individual/
Total impaired Less than 30 Between Between 91-120 More than Individually
days 30-60 days 61-90 days days 120 days impaired
2024 533.483.903.430 227.287.628.936 122.775.129.687 102.000.738.851 64.058.112.647 421.650.741 16.940.642.568 - 2024
2023 280.101.868.327 80.179.754.096 184.179.051.430 12.665.925.153 3.077.137.648 - - - 2023
c. Berdasarkan Mata Uang c. By Currency
2024 2023
Dolar Amerika Serikat 319.411.876.273 156.725.970.693 United States Dollar
Rupiah 214.072.027.157 123.375.897.634 Rupiah
Total 533.483.903.430 280.101.868.327 Total
61
Page 228
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
6. PIUTANG USAHA - PIHAK KETIGA (lanjutan) 6. TRADE RECEIVABLES - THIRD PARTIES
(continued)
Berdasarkan penelaahan status akun piutang Based on review of trade receivables and contract
usaha dan aset kontrak pada akhir tahun, assets at the end of the year, management is of the
manajemen berpendapat bahwa seluruh piutang opinion that trade receivables and contract assets
dagang dan aset kontrak dapat direalisasikan dan are realizable and no provision for impairment loss
tidak ada penyisihan kerugian penurunan nilai yang is necessary to be provided as of December 31,
diperlukan pada tanggal 31 Desember 2024 dan 2024 and 2023.
2023.
7. PIUTANG LAIN-LAIN - PIHAK KETIGA 7. OTHER RECEIVABLES - THIRD PARTIES
Akun ini terdiri dari: This account consists of:
a. Berdasarkan Pihak/Jenis a. By Party/Nature
2024 2023
Bagian jangka pendek Current portion
PT Sangsaka Hidro Tiara 75.604.438.600 75.593.233.516 PT Sangsaka Hidro Tiara
Piutang dari karyawan 3.808.974.963 5.787.748.497 Receivables from employees
Piutang bunga 2.885.341.292 3.259.996.645 Interest receivables
Ratch Group PCL 2.305.121.250 - Ratch Group PCL
PT PLN Tanjung Jati B 323.463.880 43.812.532 PT PLN Tanjung Jati B
Klaim asuransi 176.553.280 6.366.328.369 Insurance claims
Konsorsium PT Pelayanan Consortium of PT Pelayanan
Listrik Nasional Batam ("PT Listrik Nasional Batam ("PLN
PLN Batam") dan UBE - 1.501.037.570 Batam") and UBE
Lain-lain 1.118.402.789 371.705.631 Others
Total 86.222.296.054 92.923.862.760 Total
Penyisihan atas kerugian kredit Allowance for expected credit
ekspektasian (37.632.994.410) (39.134.031.980) losses
Neto 48.589.301.644 53.789.830.780 Net
Bagian jangka panjang Long-term portion
PT Universal Gas Energy PT Universal Gas Energy
("UGE") 117.891.765.038 125.980.863.267 ("UGE")
Piutang dari karyawan 3.578.311.762 2.668.132.690 Receivables from employees
Total 121.470.076.800 128.648.995.957 Total
Penyisihan atas kerugian kredit Allowance for expected credit
ekspektasian - - losses
Neto 121.470.076.800 128.648.995.957 Net
b. Berdasarkan Umur b. By Aging Category
Lancar dan Telah jatuh tempo dan tidak mengalami penurunan nilai/
tidak Past due but not impaired
mengalami
penurunan Penurunan
nilai/ Kurang dari Di antara Di antara Di antara Lebih dari nilai secara
Neither past 30 hari/ 30-60 hari/ 61-90 hari/ 91-120 hari/ 120 hari/ individual/
Total/ due nor Less than 30 Between Between Between More than Individually
Total impaired days 30-60 days 61-90 days 91-120 days 120 days impaired
2024 207.692.372.854 160.818.717.589 7.716.568.578 1.524.092.277 - - - 37.632.994.410 2024
2023 221.572.858.717 175.656.980.205 43.812.532 371.705.631 6.366.328.369 - - 39.134.031.980 2023
62
Page 229
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
7. PIUTANG LAIN-LAIN - PIHAK KETIGA (lanjutan) 7. OTHER RECEIVABLES - THIRD PARTIES
(continued)
Akun ini terdiri dari: (lanjutan) This account consists of: (continued)
c. Berdasarkan Mata Uang c. By Currency
2024 2023
Rupiah 166.812.216.426 170.136.683.890 Rupiah
Dolar Amerika Serikat 31.304.730.863 41.696.966.342 United States Dollar
Euro 9.575.425.565 9.739.208.485 Euro
Total 207.692.372.854 221.572.858.717 Total
Penyisihan atas kerugian kredit Allowance for expected credit
ekspektasian (37.632.994.410) (39.134.031.980) losses
Neto 170.059.378.444 182.438.826.737 Net
Mutasi atas penyisihan atas kerugian kredit The movements in the allowance for expected
ekspektasian adalah sebagai berikut: credit losses are as follows:
2024 2023
Saldo awal tahun 39.134.031.980 49.296.341.727 Balance at beginning of year
Penghapusan tahun berjalan (1.501.037.570) (10.162.309.747) Write-off during the year
Total 37.632.994.410 39.134.031.980 Total
Piutang dari UGE, pemegang saham UBE, Receivables from UGE, a shareholder of UBE,
merupakan uang muka yang dikeluarkan oleh represent advances made by the Company on
Perusahaan atas nama UGE kepada UBE behalf of UGE to UBE (the majority shareholder of
(pemegang saham mayoritas ELB) dan ELB untuk ELB) and ELB for the construction of the Tanjung
pembangunan pembangkit listrik Tanjung Uncang. Uncang power plant. The receivables are secured
Piutang tersebut dijamin dengan 30% kepemilikan by the 30% share ownership of UGE in UBE. The
saham UGE di UBE. Piutang tersebut akan receivables will be settled at the latest 14 years
diselesaikan paling lambat 14 tahun setelah tanggal after the commercial operation date (“COD”) of the
operasi komersial (“COD”) proyek. projects.
Piutang dari PT Sangsaka Hidro Tiara (“SHT”), Receivables from PT Sangsaka Hidro Tiara
pemegang saham SAL, merupakan uang muka (“SHT”), a shareholder of SAL, represent advances
yang dikeluarkan oleh Perusahaan atas nama SHT made by the Company on behalf of SHT to SAL
kepada SAL dan entitas anaknya untuk and its subsidiaries for the construction of the mini-
pembangunan pembangkit listrik tenaga mini-hidro. hydro power plant. The receivable is secured by the
Piutang tersebut dijamin dengan kepemilikan share ownership of SHT in SAL. The receivables
saham SHT di SAL. Piutang tersebut akan will be settled at the latest 4 years after COD of the
diselesaikan selambat-lambatnya 4 tahun setelah projects.
COD proyek.
Klaim asuransi merupakan klaim yang berkaitan Insurance claims represent claims related to
dengan kerusakan mesin dan gangguan usaha atas machine breakdown and business interruption of
entitas anak. subsidiaries.
Piutang karyawan merupakan pinjaman yang tidak Receivables from employees represent non-interest
dikenakan bunga yang diberikan kepada karyawan. bearing loans granted to employees. These
Piutang ini dibayarkan melalui pemotongan gaji receivables are collected through monthly payroll
setiap bulan. deductions.
Porsi jangka panjang dari piutang lain-lain - pihak Long-term portion of other receivables - third
ketiga merupakan piutang karyawan yang jatuh parties represent receivables from employees
tempo dalam 2-5 tahun. which is due in 2-5 years.
Piutang dari Konsorsium PLN Batam dan UBE Receivable from Consortium of PLN Batam and
(Konsorsium) merupakan uang muka untuk UBE (Consortium) represents advances for the
pembangunan fasilitas pipa gas yang dibayarkan construction of gas pipeline facility paid by UBE on
oleh UBE atas nama Konsorsium. behalf of the Consortium.
63
Page 230
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
7. PIUTANG LAIN-LAIN - PIHAK KETIGA (lanjutan) 7. OTHER RECEIVABLES - THIRD PARTIES
(continued)
Piutang dari PT PLN Tanjung Jati B merupakan Receivable from PT PLN Tanjung Jati B represents
piutang yang tidak dikenakan bunga sehubungan non-interest bearing receivables related to the
dengan pembelian suku cadang oleh TJBPS. purchase of spare parts carried by TJBPS.
Berdasarkan penelaahan status akun piutang lain- Based on the review of other receivables accounts
lain pada tanggal 31 Desember 2024 dan 2023, as of December 31, 2024 and 2023, management
manajemen berpendapat bahwa penyisihan is of the opinion that the allowance for impairment
kerugian nilai piutang lain-lain cukup untuk loss on other receivable is adequate to cover
menutupi kemungkinan kerugian atas tidak possible losses on uncollectible accounts.
tertagihnya akun-akun tersebut.
Pada tanggal 31 Desember 2024 dan 2023, tidak As of December 31, 2024 and 2023, there are no
ada piutang lain-lain yang digunakan sebagai other receivables that are pledged as collaterals for
jaminan atas utang atau pinjaman lainnya. loans and other borrowings.
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI RELATED PARTIES
Grup, dalam kegiatan usaha normal, melakukan The Group, in the regular conduct of business, has
transaksi dengan pihak berelasi, umumnya terdiri engaged in transactions with parties related to
dari penjualan, uang muka dan beban, jasa them, principally consisting of sales, intercompany
manajemen dan jasa teknis serta fasilitas advances and charges, management and technical
perbankan. Piutang dan utang tidak dijamin, service and banking facilities. The related
diselesaikan secara tunai dan tidak dikenakan receivables and payables are unsecured, settled in
bunga, kecuali dinyatakan lain. Transaksi ini cash and non-interest bearing, unless otherwise
dilakukan berdasarkan persyaratan yang disetujui stated. The transactions are made based on terms
oleh kedua belah pihak. Beberapa persyaratan agreed by the parties. Such terms may not be the
tersebut mungkin tidak sama dengan persyaratan same as those of the transactions between
yang dilakukan dengan pihak-pihak yang tidak unrelated parties.
berelasi.
a. Kas dan setara kas a. Cash and cash equivalents
Grup memiliki rekening bank dan deposito The Group maintain bank accounts and time
berjangka pada PT Bank Woori Saudara deposits with PT Bank Woori Saudara
Indonesia 1906 Tbk (Catatan 4). Indonesia 1906 Tbk (Note 4).
b. Piutang usaha b. Trade receivables
Akun ini terdiri dari: This account consists of:
2024 2023
Sarulla Operations Ltd. (Catatan Sarulla Operations Ltd. (Note
38) 30.124.429.334 34.508.703.028 38)
PT Medco E&P Lematang - 993.709.374 PT Medco E&P Lematang
Total 30.124.429.334 35.502.412.402 Total
64
Page 231
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
c. Piutang lain-lain c. Other receivables
Akun ini terdiri dari: This account consists of:
2024 2023
PT Medco Daya Abadi Lestari PT Medco Daya Abadi Lestari
(MDAL) 64.802.730.000 64.802.730.000 (MDAL)
Pacific Medco Solar Energy Pte Pacific Medco Solar Energy Pte
Ltd. 62.710.869.152 21.077.204.276 Ltd.
PT Medcopower Solar PT Medcopower Solar
Sumbawa 9.075.123.605 8.619.270.988 Sumbawa
Sarulla Geothermal Operation
(Grup Kontraktor Sarulla Geothermal Operation
Pengendalian Bersama) (Joint Operation Contractor
(Catatan 38) 6.130.600.000 6.130.600.000 Group) (Note 38)
PT Medco Geopower Sarulla 1.731.444.761 1.350.191.811 PT Medco Geopower Sarulla
PT Medco E&P Indonesia 7.295.000 7.295.000 PT Medco E&P Indonesia
PT Medco Energi Nusantara 6.000.000 6.000.000 PT Medco Energi Nusantara
Total 144.464.062.518 101.993.292.075 Total
Dikurangi bagian tidak lancar 6.143.895.000 6.143.895.000 Less non-current portion
Bagian lancar 138.320.167.518 95.849.397.075 Current portion
Piutang dari PT Medco Daya Abadi Lestari Receivable from PT Medco Daya Abadi
(“MDAL”) merupakan piutang atas penjualan Lestari (“MDAL”) represents the receivable on
2% kepemilikan saham MGeoPS Perusahaan the sale of the 2% of MGeoPS shares of the
ke MDAL. Company to MDAL .
Piutang dari Pacific Medco Solar Energy Pte Receivables from Pacific Medco Solar Energy
Ltd. merupakan uang muka untuk aktivitas Pte Ltd. represent advances for operational
operasional yang dibayarkan oleh Perusahaan activities paid by the Company in connection
sehubungan dengan proyek Pulau Bulan. with Pulau Bulan Project.
Piutang dari PT Medcopower Solar Sumbawa Receivables from PT Medcopower Solar
merupakan uang muka untuk aktivitas Sumbawa represent advances for operational
operasional yang dibayarkan oleh Perusahaan activities paid by the Company in connection
sehubungan dengan proyek PLTS Sumbawa. with Sumbawa PV power plant.
Piutang dari GKPB terutama merupakan Receivable from JOCG mainly represent
pengeluaran yang dapat diganti yang reimbursable expenditures advanced by the
dibayarkan di muka oleh Perusahan Company in connection with Sarulla
sehubungan dengan proyek Tenaga Panas Geothermal Power Project.
Bumi Sarulla.
Piutang dari PT Medco Geopower Sarulla Receivables from PT Medco Geopower
merupakan uang muka atas aktivitas Sarulla represent advances for operational
operasional PT Medco Geopower Sarulla yang activities of PT Medco Geopower Sarulla paid
dibayarkan oleh Perusahaan. by the Company.
Berdasarkan penelaahan status akun piutang Based on the review of other receivables as of
lain-lain pada tanggal 31 Desember 2024 dan December 31, 2024 and 2023, management is
2023, manajemen berpendapat bahwa seluruh of the opinion that all of other receivables can
piutang lain-lain tersebut dapat ditagih. be fully collected.
65
Page 232
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
d. Utang kepada pihak berelasi d. Due to related parties
Akun ini terdiri dari: This account consists of:
2024 2023
PT Medco Energi Internasional PT Medco Energi Internasional
Tbk 12.428.770.287 12.287.883.296 Tbk
PT Api Metra Graha 3.382.935.689 3.379.488.381 PT Api Metra Graha
PT Satria Raksa Buminusa PT Satria Raksa Buminusa
("SRB") 2.379.402.197 443.311.538 ("SRB")
Sarulla Operations Ltd 132.473.223 277.554.792 Sarulla Operations Ltd
PT Medco Energi Nusantara 78.000.000 62.200.000 PT Medco Energi Nusantara
PT Medco Daya Abadi Lestari - 949.338.093 PT Medco Daya Abadi Lestari
Total 18.401.581.396 17.399.776.100 Total
Utang kepada pihak berelasi merupakan uang The amount payable to related parties
muka dan biaya untuk kegiatan operasional represents advances and charges for
yang dibayarkan oleh pihak berelasi atas operational activities paid by related parties on
nama Perusahaan. behalf of the Company.
e. Pinjaman jangka panjang e. Long-term debt
Akun ini merupakan saldo terutang oleh Grup This account represents the outstanding
dari Fasilitas Modal Kerja dengan PT Bank balance of the availments by the Group from
Woori Saudara Indonesia 1906 Tbk (Catatan the Working Capital Facility with PT Bank
25). Woori Saudara Indonesia 1906 Tbk (Note 25).
f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties
pihak berelasi
Dalam melakukan kegiatan usahanya, Grup In the normal course of business, the Group
melakukan transaksi-transaksi tertentu dengan entered into certain transactions with its
pihak-pihak berelasi. related parties.
2024
Persentase terhadap
jumlah terkait (%)/
Jumlah/ Percentage to
Amount related totals (%)
Aset Assets
Kas dan setara kas Cash and cash equivalents
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk 1.058.970.679.099 5,752 Indonesia 1906 Tbk
Piutang usaha Trade receivables
Sarulla Operations Ltd. Sarulla Operations Ltd. (Note
(Catatan 38) 30.124.429.334 0,164 38)
66
Page 233
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties
pihak berelasi (lanjutan) (continued)
Dalam melakukan kegiatan usahanya, Grup In the normal course of business, the Group
melakukan transaksi-transaksi tertentu dengan entered into certain transactions with its
pihak-pihak berelasi. (lanjutan) related parties. (continued)
2024
Persentase terhadap
jumlah terkait (%)/
Jumlah/ Percentage to
Amount related totals (%)
Aset (lanjutan) Assets (continued)
Piutang lain-lain Other receivables
PT Medco Daya Abadi Lestari PT Medco Daya Abadi Lestari
(MDAL) 64.802.730.000 0,352 (MDAL)
Pacific Medco Solar Energy Pacific Medco Solar Energy
Pte Ltd. 62.710.869.152 0,341 Pte Ltd.
PT Medcopower Solar PT Medcopower Solar
Sumbawa 9.075.123.605 0,049 Sumbawa
Sarulla Geothermal Operation
(Grup Kontraktor Sarulla Geothermal Operation
Pengendalian Bersama) (Joint Operation Contractor
(Catatan 38) 6.130.600.000 0,033 Group) (Note 38)
PT Medco Geopower Sarulla 1.731.444.761 0,009 PT Medco Geopower Sarulla
PT Medco E&P Indonesia 7.295.000 0,000 PT Medco E&P Indonesia
PT Medco Energi Nusantara 6.000.000 0,000 PT Medco Energi Nusantara
Liabilitas Liabilities
Utang kepada pihak berelasi Due to related parties
PT Medco Energi PT Medco Energi
Internasional Tbk 12.428.770.287 0,106 Internasional Tbk
PT Api Metra Graha 3.382.935.689 0,029 PT Api Metra Graha
PT Satria Raksa Buminusa PT Satria Raksa Buminusa
("SRB") 2.379.402.197 0,020 ("SRB")
Sarulla Operations Ltd 132.473.223 0,001 Sarulla Operations Ltd
PT Medco Energi Nusantara 78.000.000 0,001 PT Medco Energi Nusantara
Pinjaman jangka panjang Long-term debt
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk 52.526.500.000 0,446 Indonesia 1906 Tbk
Transaksi Transactions
Pendapatan usaha Revenue
Sarulla Operations Ltd 125.474.653.214 3,836 Sarulla Operations Ltd
PT Medco Energi PT Medco Energi Internasional
Internasional Tbk 192.000.000 0,006 Tbk
PT Medco E&P Lematang 162.049.958 0,005 PT Medco E&P Lematang
Beban pokok pendapatan Cost of revenues
PT Exspan Petrogas Intranusa 43.837.579.078 2,110 PT Exspan Petrogas Intranusa
PT Satria Raksa Buminusa 11.479.275.728 0,553 PT Satria Raksa Buminusa
Beban operasional Operating expense
PT Api Metra Graha 15.719.130.921 2,576 PT Api Metra Graha
PT Medco Energi PT Medco Energi Internasional
Internasional Tbk 497.303.908 0,082 Tbk
Beban bunga Interest expense
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk 1.958.428.511 0,285 Indonesia 1906 Tbk
67
Page 234
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties
pihak berelasi (lanjutan) (continued)
Dalam melakukan kegiatan usahanya, Grup In the normal course of business, the Group
melakukan transaksi-transaksi tertentu dengan entered into certain transactions with its
pihak-pihak berelasi. (lanjutan) related parties. (continued)
2023
Persentase terhadap
jumlah terkait (%)/
Jumlah/ Percentage to
Amount related totals (%)
Aset Assets
Kas dan setara kas Cash and cash equivalents
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk 978.505.551.443 6,143 Indonesia 1906 Tbk
Piutang usaha Trade receivables
Sarulla Operations Ltd. (Catatan
38) 34.508.703.028 0,217 Sarulla Operations Ltd. (Note 38)
PT Medco E&P Lematang 993.709.374 0,006 PT Medco E&P Lematang
Piutang lain-lain Other receivables
PT Medco Daya Abadi Lestari PT Medco Daya Abadi Lestari
(MDAL) 64.802.730.000 0,407 (MDAL)
Pacific Medco Solar Energy Pte Pacific Medco Solar Energy Pte
Ltd. 21.077.204.276 0,132 Ltd.
PT Medcopower Solar
Sumbawa 8.619.270.988 0,054 PT Medcopower Solar Sumbawa
Sarulla Geothermal Operation
(Grup Kontraktor Sarulla Geothermal Operation
Pengendalian Bersama) (Joint Operation Contractor
(Catatan 38) 6.130.600.000 0,038 Group) (Note 38)
PT Medco Geopower Sarulla 1.350.191.811 0,008 PT Medco Geopower Sarulla
PT Medco E&P Indonesia 7.295.000 0,000 PT Medco E&P Indonesia
PT Medco Energi Nusantara 6.000.000 0,000 PT Medco Energi Nusantara
Liabilitas Liabilities
Utang kepada pihak berelasi Due to related parties
PT Medco Energi Internasional PT Medco Energi Internasional
Tbk 12.287.883.296 0,131 Tbk
PT Api Metra Graha 3.379.488.381 0,036 PT Api Metra Graha
PT Medco Daya Abadi Lestari 949.338.093 0,010 PT Medco Daya Abadi Lestari
PT Satria Raksa Buminusa PT Satria Raksa Buminusa
("SRB") 443.311.538 0,005 ("SRB")
Sarulla Operations Ltd 277.554.792 0,003 Sarulla Operations Ltd
PT Medco Energi Nusantara 62.200.000 0,001 PT Medco Energi Nusantara
Pinjaman jangka panjang Long-term debt
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk 169.576.000.000 1,807 Indonesia 1906 Tbk
68
Page 235
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties
pihak berelasi (lanjutan) (continued)
Dalam melakukan kegiatan usahanya, Grup In the normal course of business, the Group
melakukan transaksi-transaksi tertentu dengan entered into certain transactions with its
pihak-pihak berelasi. (lanjutan) related parties. (continued)
2023
Persentase terhadap
jumlah terkait (%)/
Jumlah/ Percentage to
Amount related totals (%)
Transaksi Transactions
Pendapatan usaha Revenue
Sarulla Operations Ltd 119.029.543.943 2,754 Sarulla Operations Ltd
PT Medco Energi PT Medco Energi
Internasional Tbk 144.000.000 0,003 Internasional Tbk
Beban pokok pendapatan Cost of revenues
PT Exspan Petrogas
PT Exspan Petrogas Intranusa 132.829.960.811 4,148 Intranusa
Beban operasional Operating expense
PT Api Metra Graha 13.542.220.848 2,397 PT Api Metra Graha
PT Medco Energi PT Medco Energi Internasional
Internasional Tbk 12.669.209.372 2,245 Tbk
PT Satria Raksa Buminusa 9.449.661.789 1,674 PT Satria Raksa Buminusa
Beban bunga Interest expense
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk 13.010.157.056 2,195 Indonesia 1906 Tbk
2024 2023
Pendapatan Revenues
PT Medco E&P Lematang 162.049.958 - PT Medco E&P Lematang
PT Medco Energi Internasional PT Medco Energi Internasional
Tbk 192.000.000 144.000.000 Tbk
Sarulla Operations Ltd. 125.474.653.214 119.029.543.943 Sarulla Operations Ltd.
Beban Expenses
PT Exspan Petrogas Intranusa 43.837.579.078 132.829.960.811 PT Exspan Petrogas Intranusa
PT Api Metra Graha 15.719.130.921 13.542.220.848 PT Api Metra Graha
PT Satria Raksa Buminusa 11.479.275.728 9.449.661.789 PT Satria Raksa Buminusa
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk 1.958.428.511 13.010.157.056 Indonesia 1906 Tbk
PT Medco Energi Internasional PT Medco Energi Internasional
Tbk 497.303.908 12.669.209.372 Tbk
69
Page 236
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
f. Transaksi-transaksi dan saldo-saldo dengan f. Transactions and balances with related parties
pihak berelasi (lanjutan) (continued)
Rincian pihak berelasi dan sifat hubungan dan The related parties and the nature of
jenis transaksi signifikan antara Grup dengan significant transactions between the Group
pihak berelasi adalah sebagai berikut: and related parties are as follows:
Pihak berelasi/ Sifat Hubungan/ Jenis transaksi/ Nature of
Related Party Nature of Relationship Transactions
PT Medco Daya Abadi Lestari Entitas induk utama/ Ultimate parent entity Penjualan kepemilikan saham/
Sale of shares
PT Medco Energi Internasional Tbk Pemegang saham/ Shareholder Uang muka/ Advances
PT Bank Woori Saudara Indonesia 1906 Pihak berelasi yang memiliki pemegang Penempatan dan fasilitas
Tbk saham yang sama dengan Perusahaan/ kredit/ Fund placement and
Related party having the same credit facilities
shareholder as the Company
PT Medco Energi Nusantara Pihak berelasi yang memiliki pemegang Uang muka/ Advances
saham yang sama dengan Perusahaan/
Related party having the same
shareholder as the Company
PT Medco E&P Lematang Pihak berelasi yang memiliki pemegang Penjualan listrik/ Sales of
saham yang sama dengan Perusahaan/ electric power
Related party having the same
shareholder as the Company
PT Api Metra Graha Pihak berelasi yang memiliki pemegang Sewa/ Rent
saham yang sama dengan Perusahaan/
Related party having the same
shareholder as the Company
PT Exspan Petrogas Intranusa Pihak berelasi yang memiliki pemegang Jasa pengeboran panas bumi/
saham yang sama dengan Perusahaan/ Geothermal drilling services
Related party having the same
shareholder as the Company
Sarulla Operations Ltd. Ventura bersama/Joint venture Jasa operasi dan
pemeliharaan/Operation and
maintenance services
Sarulla Geothermal Operation (Grup Ventura bersama/ Joint venture Uang muka/ Advances
Kontraktor Pengendalian Bersama)
("GKPB")/Sarulla Geothermal Operation
(Joint Operation Contractor Group)
("JOCG")
PT Medco E&P Indonesia Pihak berelasi yang memiliki pemegang Uang muka/ Advances
saham yang sama dengan Perusahaan/
Related party having the same
shareholder as the Company
PT Satria Raksa Buminusa Pihak berelasi yang memiliki pemegang Jasa keamanan/ Security
saham yang sama dengan Perusahaan/ services
Related party having the same
shareholder as the Company
Pacific Medco Solar Energy Pte Ltd. Pihak berelasi yang memiliki pengaruh Uang muka/ Advances
signifikan atas entitas anak/ Related party
having significant influence
PT Medco Geopower Sarulla Entitas asosiasi/Associate entity Uang muka/Advances
PT Medcopower Solar Sumbawa Ventura bersama/Joint venture Uang muka/Advances
70
Page 237
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
8. AKUN DAN TRANSAKSI DENGAN PIHAK 8. ACCOUNTS AND TRANSACTIONS WITH
BERELASI (lanjutan) RELATED PARTIES (continued)
g. Gaji dan remunerasi lainnya g. Salaries and other remuneration
Gaji dan remunerasi lainnya dari manajemen Salaries and other remuneration of the key
kunci untuk tahun yang berakhir 31 Desember management personnel for the years ended
2024 dan 2023 adalah sebagai berikut: December 31, 2024 and 2023 are as follows:
2024 2023
Imbalan jangka pendek 32.598.735.693 35.011.830.588 Short-term employee benefits
Provisi imbalan pasca kerja Provision for employee service
3.834.386.000 3.561.934.000 entitlements
Imbalan pesangon 2.615.608.607 - Termination benefit
Total 39.048.730.300 38.573.764.588 Total
9. PERSEDIAAN 9. INVENTORIES
Akun ini terdiri dari: This account consists of:
2024 2023
Suku cadang 65.866.471.033 62.674.160.067 Spare parts
Barang habis pakai 33.950.437.255 37.247.478.184 Consumables
Total 99.816.908.288 99.921.638.251 Total
Rincian persediaan yang telah digunakan dan The details of inventories used and expensed are
dibebankan adalah sebagai berikut: (Catatan 33) as follows: (Note 33)
2024 2023
Suku cadang 21.900.369.790 18.129.616.188 Spare parts
Barang habis pakai 32.047.673.104 37.201.966.558 Consumables
Total 53.948.042.894 55.331.582.746 Total
Persediaan dinyatakan sebesar biaya perolehan. Inventories are stated at cost.
Berdasarkan hasil penelaahan terhadap harga Based on a review of the market prices and
pasar dan kondisi fisik persediaan pada tanggal physical conditions of the inventories at the
pelaporan, manajemen berkeyakinan bahwa tidak reporting dates, management is of the opinion that
terdapat penurunan nilai persediaan. no impairment on inventories has occurred.
Pada tanggal 31 Desember 2024 dan 2023, tidak As of December 31, 2024 and 2023, there are no
ada persediaan yang dijadikan jaminan atas utang inventories that are pledged as collateral to loans
dan pinjaman lainnya. and other borrowings.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the Group’s
persediaan Grup telah diasuransikan terhadap inventories are covered by insurance against
risiko kerugian akibat kebakaran, banjir, gempa losses by fire, flood, earthquake and other risks
bumi dan risiko lainnya (Catatan 18). Menurut (Note 18). In the opinion of the management, the
pendapat manajemen, nilai pertanggungan tersebut insurance coverage is adequate to cover possible
cukup untuk menutup kemungkinan kerugian atas losses that may arise from such risks.
risiko-risiko tersebut.
10. PAJAK DIBAYAR DI MUKA 10. PREPAID TAXES
Akun ini terdiri dari lebih bayar pajak pertambahan This account represents value added tax
nilai yang dikompensasikan ke masa pajak overpayment which are compensated into the next
berikutnya. tax period.
71
Page 238
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
11. PIUTANG SEWA PEMBIAYAAN 11. FINANCE LEASE RECEIVABLES
Berdasarkan evaluasi manajemen, syarat Based on management evaluation, the terms of the
Perjanjian Jual Beli Tenaga Listrik antara DEB, Power Purchase Agreement between DEB, MEB
MEB dan ELB dengan PLN Batam (Catatan 38), and ELB with PLN Batam (Note 38), EPE and MPE
EPE dan MPE dengan PT PLN WS2JB (Catatan with PT PLN WS2JB (Note 38) and BJI and PPP
38) dan BJI dan PPP dengan PT PLNUIDJB with PT PLNUIDJB (Note 38) contain a lease and
(Catatan 38) mengandung sewa dan mencakup covering most of the economic life of the asset and
sebagian besar umur ekonomi aset dan pada awal at the beginning of the lease, the present value of
sewa, nilai kini dari total pembayaran sewa the total minimum lease payments substantially
minimum secara substansial mendekati nilai wajar approximates the fair value of the leased asset,
aset sewaan, sehingga Grup membukukan accordingly the Group records the transaction as
transaksi tersebut sebagai sewa pembiayaan finance lease as follows:
sebagai berikut:
2024 2023
Kurang dari satu tahun 385.226.993.772 504.282.090.469 Within one year
Lebih dari satu tahun sampai lima After one year but not more than
tahun 943.325.583.610 1.159.373.106.402 five years
Lebih dari lima tahun 1.088.430.308.359 1.318.564.714.891 More than five years
Total pembayaran sewa
minimum 2.416.982.885.741 2.982.219.911.762 Total minimum lease payments
Dikurangi pendapatan keuangan Less amounts representing
yang belum diterima 1.040.624.900.590 1.223.609.761.573 unearned finance income
Piutang sewa pembiayaan - neto 1.376.357.985.151 1.758.610.150.189 Finance lease receivables - net
Dikurangi bagian yang akan jatuh
tempo dalam satu tahun - neto (223.035.633.301) (308.865.940.807) Less current maturities - net
Bagian jangka panjang 1.153.322.351.850 1.449.744.209.382 Non-current portion
Pada tanggal 31 Desember 2024 dan 2023, piutang As of December 31, 2024 and 2023, all finance
sewa pembiayaan telah diasuransikan kepada lease receivables were insured with various
berbagai perusahaan asuransi (Catatan 18). insurance companies (Note 18). Management
Manajemen memiliki keyakinan bahwa nilai believes that the insurance coverage is adequate to
pertanggungan cukup untuk menutupi kemungkinan cover possible losses on the assets insured.
kerugian atas aset yang dipertanggungkan.
Perhitungan nilai kini pembayaran sewa minimum The present value of the minimum lease payments
tersebut menggunakan suku bunga implisit sebesar uses an implicit interest rate of 3% - 50% per
3% - 50% per tahun sesuai dengan estimasi annum in accordance with the estimated invoices to
tagihan yang akan diterbitkan sepanjang masa be issued over the life of the contract and the
kontrak dan biaya investasi pada masing-masing investment costs of each plant.
pembangkit.
Untuk tahun yang berakhir pada 31 Desember 2024 For the year ended December 31, 2024 and 2023,
dan 2023, manajemen mencatat kerugian piutang management recorded loss for the impairment of
sewa pembiayaan sehubungan dengan terjadinya finance lease receivables due to decrease of the
penurunan pengiriman listrik pada tahun berjalan current year electricity delivered and the expected
dan ekspektasi pada tahun-tahun berikutnya delivery electricity in the future years each
masing-masing sebesar Rp132.929.790.599 dan amounted to Rp132,929,790,599 and
Rp20.003.131.120 (Catatan 36). Rp20,003,131,120 (Note 36).
Berdasarkan penelaahan status akun piutang sewa Based on review of financial lease receivables at
pembiayaan pada akhir tahun, manajemen the end of the year, management is of the opinion
berpendapat bahwa kerugian penurunan nilai yang that the impairment loss recognized for the years
diakui untuk tahun yang berakhir pada tanggal 31 ended December 31, 2024 and 2023 are adequate
Desember 2024 dan 2023 cukup untuk menutupi to cover possible losses and the carrying amount of
kemungkinan kerugian dan jumlah tercatat piutang the financial lease receivables as of December 31,
sewa pembiayaan pada tanggal 31 Desember 2024 2024 and 2023 are realizable.
dan 2023 dapat direalisasikan.
72
Page 239
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
12. BEBAN DIBAYAR DI MUKA DAN UANG MUKA 12. PREPAID EXPENSES AND ADVANCES
Akun ini terdiri dari: This account consists:
2024 2023
Uang muka untuk proyek 218.538.201.331 196.774.471.068 Advances for project
Asuransi dibayar di muka 14.402.691.520 12.875.851.033 Prepaid Insurance
Sewa fasilitas dibayar di muka 6.338.993.861 210.807.325 Prepaid rental facilities
Lain-lain 1.753.198.181 2.244.600.371 Others
Total 241.033.084.893 212.105.729.797 Total
Uang muka untuk proyek terutama merupakan Advances for project mainly represents advance
uang muka yang dibayarkan kepada pihak ketiga payment to third parties in respect of potential
sehubungan dengan investasi potensial yang investments which are under review by the Group.
sedang ditinjau oleh Grup.
Asuransi dibayar di muka terutama terdiri dari Prepaid insurance mainly consists of prepaid
asuransi dibayar di muka untuk aset tetap. insurance for property, plant and equipment.
13. ASET KEUANGAN KONSESI 13. CONCESSION FINANCIAL ASSETS
Berdasarkan evaluasi manajemen, syarat pada Based on management evaluation, the terms of the
Perjanjian Jual Beli Tenaga Listrik antara PT PLN Power Purchase Agreement between PT PLN
(Persero) dengan MRPR, MCG dan MSBT (Persero) and MRPR, MCG and MSBT met the
memenuhi syarat sebagai perjanjian konsesi jasa, requirement for service concession arrangement.
sehingga Manajemen membukukan transaksi Accordingly, Management accounts such
tersebut sebagai aset konsesi keuangan. transactions as concession financial assets. The
Perubahan dalam aset konsesi keuangan selama movements in the concession financial assets
2024 dan 2023 adalah sebagai berikut: during 2024 and 2023 are as follows:
2024 2023
Saldo awal 7.617.955.501.928 5.230.085.510.141 Beginning balance
Penambahan: Additional:
Pendapatan konstruksi Construction revenue
(Catatan 16 dan 32) 1.277.391.832.748 2.494.068.005.247 (Notes 16 and 32)
Pendapatan keuangan dari Finance income from service
konsesi jasa (Catatan 32) 599.131.107.411 477.094.119.156 concession (Note 32)
Penerimaan dari PLN (500.049.060.600) (504.362.679.043) Collection from PLN
Selisih kurs karena penjabaran
laporan keuangan 395.788.947.196 (78.929.453.573) Translation adjustments
Total 9.390.218.328.683 7.617.955.501.928 Total
Penyisihan kerugian kredit Allowance for expected credit
ekspektasian (4.435.780.106) (4.435.780.106) losses
Neto 9.385.782.548.577 7.613.519.721.822 Net
Dikurangi bagian yang jatuh
tempo dalam satu tahun 539.544.723.798 506.157.486.367 Less current maturities
Bagian jangka panjang - neto 8.846.237.824.779 7.107.362.235.455 Long-term portion - net
Pada tanggal 31 Desember 2024 dan 2023, aset As of December 31, 2024 and 2023, concession
keuangan konsesi terdiri dari aset kontrak, masing- financial assets consist of contract assets
masing, sebesar Rp4.244.885.833.281 dan amounting to Rp4,244,885,833,281 and
Rp2.608.799.564.557, masing-masing, yang Rp2,608,799,564,557, respectively, derived from
berasal dari MCG dan MSBT yang masih dalam MCG and MSBT which are still under construction,
tahap konstruksi, dan piutang sebesar and receivables amounting to
Rp5.140.896.715.296 dan Rp5.004.720.157.265, Rp5,140,896,715,296 and Rp5,004,720,157,265,
masing-masing, yang berasal dari MRPR yang respectively, derived from MRPR which is already
sudah dalam masa operasi komersial. in commercial operation.
73
Page 240
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
13. ASET KEUANGAN KONSESI (lanjutan) 13. CONCESSION FINANCIAL ASSETS (continued)
Berdasarkan penelaahan status akun aset Based on the review of concession financial assets
keuangan konsesi pada tanggal 31 Desember 2024 as of December 31, 2024 and 2023, management
dan 2023, manajemen berpendapat bahwa is of the opinion that the allowance for impairment
penyisihan kerugian nilai aset keuangan konsesi loss on concession financial assets is adequate to
cukup untuk menutupi kemungkinan kerugian atas cover possible losses on uncollectible accounts.
tidak tertagihnya akun-akun tersebut.
14. ASET HAK-GUNA 14. RIGHT-OF-USE ASSETS
Grup menyewa beberapa aset termasuk tanah, The Group leases several assets including land,
bangunan, peralatan kantor dan kendaraan, yang building, office equipment and vehicles which
pada umumnya memiliki masa sewa antara 1 generally has lease term between 1 to 29 years.
sampai 29 tahun.
Grup mempunyai sewa tertentu dengan masa sewa The Group also has certain leases with lease terms
12 bulan atau kurang dan sewa bernilai rendah. of 12 months or less and low value leases. The
Grup menerapkan pengecualian pengakuan sewa Group applies the short-term lease and lease of low
jangka pendek dan sewa bernilai rendah untuk value assets recognition exemptions for these
sewa tersebut. leases.
Nilai tercatat untuk aset hak guna adalah sebagai The carrying amount of right of use assets are as
berikut: follows:
2024
Bangunan dan
prasarana/
Building and
Tanah/ land Peralatan/ Kendaraan/ Jumlah/
Land improvement Equipment Vehicles Total
Saldo awal 5.170.414.230 12.820.883.778 - 9.513.389.314 27.504.687.322 Beginning balance
Penambahan - 160.000.000 - 9.661.671.231 9.821.671.231 Additions
Penyusutan - (11.652.697.514) - (4.473.870.835) (16.126.568.349) Depreciation
Translasi (829.642.419) 987.156.018 - (402.303.076) (244.789.477) Translation
Saldo akhir 4.340.771.811 2.315.342.282 - 14.298.886.634 20.955.000.727 Ending balance
2023
Bangunan dan
prasarana/
Building and
Tanah/ land Peralatan/ Kendaraan/ Jumlah/
Land improvement Equipment Vehicles Total
Saldo awal 6.062.612.207 20.621.837.068 288.158.559 2.248.148.151 29.220.755.985 Beginning balance
Penambahan - 2.700.312.919 - 10.623.198.962 13.323.511.881 Additions
Penyusutan (755.579.039) (10.174.735.218) (287.518.345) (3.419.787.361) (14.637.619.963) Depreciation
Translasi (136.618.938) (326.530.991) (640.214) 61.829.562 (401.960.581) Translation
Saldo akhir 5.170.414.230 12.820.883.778 - 9.513.389.314 27.504.687.322 Ending balance
Berikut ini merupakan jumlah yang diakui dalam The followings are the amounts recognized in profit
laba rugi: or loss:
2024 2023
Beban depresiasi untuk aset hak Depreciation expense of right-of-
guna 16.126.568.349 14.637.619.963 use assets
Beban bunga atas liabilitas sewa 1.892.957.700 2.697.895.473 Interest expense on lease liabilities
Beban yang terkait dengan sewa Expense relating to short-term
jangka pendek dan sewa aset leases and leases of low-value
bernilai rendah 17.848.428.170 13.220.283.449 assets
Total 35.867.954.219 30.555.798.885 Total
74
Page 241
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
14. ASET HAK-GUNA (lanjutan) 14. RIGHT-OF-USE ASSETS (continued)
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, based on
berdasarkan evaluasi manajemen, tidak terdapat management’s assessment, there are no
indikasi atau tidak ada faktor yang signifikan bahwa circumstances or no significant factors that would
nilai tercatat aset hak guna mengalami penurunan indicate the carrying value of right-of-use assets
nilai. may be impaired.
15. INVESTASI JANGKA PANJANG 15. LONG-TERM INVESTMENTS
Akun ini terdiri dari sebagai berikut: This account consists of the following:
2024
Persentase Nilai tercatat 31
kepemilikan/ Nilai tercatat 1 Penambahan/ Penyesuaian Desember 2024/
Percentage Januari 2024/ Additions Penambahan Nilai Wajar / Fair Carrying value
of Carrying value (Pengurangan)/ ekuitas/ Equity value December 31,
ownership January 1, 2024 (Deductions) changes adjustments 2024
Metode ekuitas/Equity
method
Entitas asosiasi/
Associate
PT Medco Geopower
Sarulla
("MGeoPS") 49,00 % 2.257.227.252.985 - 130.169.600.862 - 2.387.396.853.847
Ventura Bersama/Joint
Venture
PT Medcopower
Solar Sumbawa
("MPSoS") 50,00 % 64.427.295.632 - 3.705.584.647 - 68.132.880.279
Metode nilai wajar/Fair
value method
PT Teknologi Data
Infrastruktur
("TDI") 5,00 % 30.999.913.788 40.250.000.000 - (3.912.463.788) 67.337.450.000
Total 2.352.654.462.405 40.250.000.000 133.875.185.509 (3.912.463.788) 2.522.867.184.126
2023
Persentase Nilai tercatat 1 Penambahan/ Nilai tercatat 31
kepemilikan/ Januari 2023/ Additions Penambahan Desember 2023/
Percentage of Carrying value (Pengurangan)/ ekuitas/ Equity Carrying value
ownership January 1, 2023 (Deductions) changes December 31, 2023
Metode ekuitas/Equity
method
Entitas Asosiasi/
Associate
PT Medco Geopower
Sarulla
("MGeoPS") 49,00 % 2.258.194.292.299 - (967.039.314) 2.257.227.252.985
Ventura Bersama/Joint
Venture
PT Medcopower
Solar Sumbawa
("MPSoS") 50,00 % 64.200.821.046 - 226.474.586 64.427.295.632
Metode nilai wajar/Fair
value method
PT Teknologi Data
Infrastruktur ("TDI") 5,00 % - 30.999.913.788 - 30.999.913.788
Total 2.322.395.113.345 30.999.913.788 (740.564.728) 2.352.654.462.405
75
Page 242
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
Tabel berikut menyajikan perubahan ekuitas pada The following table illustrates the equity changes in
entitas asosiasi dan ventura bersama: an associate and a joint venture:
2024
Persentase Pendapatan
kepemilikan/ komprehensif lain/
Percentage of Laba tahun berjalan/ Other comprehensive
ownership Profit for the year income Jumlah/ Total
Metode ekuitas/Equity method
Entitas Asosiasi/Associate
PT Medco Geopower Sarulla
("MGeoPS") 49,00 % 39.896.623.195 90.272.977.667 130.169.600.862
Ventura Bersama/Joint Venture
PT Medcopower Solar Sumbawa
("MPSoS") 50,00 % 3.705.584.647 - 3.705.584.647
Total 43.602.207.842 90.272.977.667 133.875.185.509
2023
Persentase Pendapatan
kepemilikan/ Laba (rugi) tahun komprehensif lain/
Percentage of berjalan/ Profit (loss) Other comprehensive
ownership for the year income Jumlah/ Total
Metode ekuitas/Equity method
Entitas Asosiasi/Associate
PT Medco Geopower Sarulla
("MGeoPS") 49,00 % 40.214.872.202 (41.181.911.516) (967.039.314)
Ventura Bersama/Joint Venture
PT Medcopower Solar Sumbawa
("MPSoS") 50,00 % 226.474.586 - 226.474.586
Total 40.441.346.788 (41.181.911.516) (740.564.728)
Tabel berikut menyajikan ringkasan informasi The following table illustrates the summarized
keuangan entitas asosiasi dan ventura bersama: financial information of the associate and the joint
venture:
2024 (dalam jutaan/in millions)
Ekuitas Bagian Grup
Liabilitas Liabilitas entitas Persentase atas aset Nilai tercatat
Aset tidak jangka jangka induk/ kepemilikan/ neto/ The Penyesuaian investasi/
Aset lancar/ lancar/ Non- pendek/ panjang/ Equity of Percentage Group's ekuitas/ Investment
Current current Current Non-current parent of share of net Equity carrying
assets assets liabilities liabilities company ownership assets adjustment value
Entitas Asosiasi/
Associate
PT Medco
Geopower
Sarulla
("MGeoPS") 1.499.263 7.221.496 4.215.485 1.011.152 3.494.122 49,00 % 1.712.120 675.277 2.387.397
Ventura Bersama/
Joint Venture
PT
Medcopower
Solar
Sumbawa
("MPSoS") 51.849 256.251 24.551 162.273 121.276 50,00 % 60.638 7.495 68.133
Total 1.551.112 7.477.747 4.240.036 1.173.425 3.615.398 1.772.758 682.772 2.455.530
76
Page 243
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
Tabel berikut menyajikan perubahan ekuitas pada The following table illustrates the equity changes in
entitas asosiasi dan ventura bersama: (lanjutan) an associate and a joint venture: (continued)
2023 (dalam jutaan/in millions)
Bagian Grup
Liabilitas Liabilitas Ekuitas Persentase atas aset Nilai tercatat
Aset tidak jangka jangka entitas kepemilikan/ neto/ The Penyesuaian investasi/
Aset lancar/ lancar/ Non- pendek/ panjang/ induk/Equity Percentage Group's ekuitas/ Investment
Current current Current Non-current of parent of share of net Equity carrying
assets assets liabilities liabilities company ownership assets adjustment value
Entitas
Asosiasi/
Associate
PT Medco
Geopower
Sarulla
("MGeoPS") 2.096.424 6.473.721 4.486.368 855.307 3.228.470 49,00 % 1.581.950 675.277 2.257.227
Ventura Bersama/
Joint Venture
PT
Medcopower
Solar
Sumbawa
("MPSoS") 47.384 255.237 25.976 162.780 113.865 50,00 % 56.933 7.494 64.427
Total 2.143.808 6.728.958 4.512.344 1.018.087 3.342.335 1.638.883 682.771 2.321.654
Entitas asosiasi dan ventura bersama tidak The associates and joint venture had no capital
mempunyai komitmen modal dan liabilitas commitments or contingent liabilities as of
kontinjensi pada tanggal 31 Desember 2024 dan December 31, 2024 and 2023.
2023.
Tidak ada pembatasan signifikan atas kemampuan There are no significant restrictions on the ability of
entitas asosiasi dan ventura bersama untuk associates and joint venture entity to transfer funds
mengalihkan dana kepada Grup. to the Group.
a. Entitas asosiasi dan ventura bersama - a. Associate and join ventures - equity method
metode ekuitas
PT Medco Geopower Sarulla (“MGeoPS”) PT Medco Geopower Sarulla (“MGeoPS”)
Pada tanggal 18 Mei 2021, Perusahaan On May 18, 2021, the Company divested 2%
melakukan divestasi sebesar 2% saham of its share ownership in MGeoPS to PT
kepemilikan pada MGeoPS kepada PT Medco Medco Daya Abadi Lestari, the Company’s
Daya Abadi Lestari, entitas induk Perusahaan. parent entity. After the divestment, the
Setelah divestasi tersebut, Perusahaan Company revalued the 49% share ownership
mengukur kembali 49% kepemilikan saham in MGeoPS at fair value. Subsequent to the
pada MGeoPS pada nilai wajar. Setelah divestment, the investment is accounted using
divestasi, investasi dicatat menggunakan equity method.
metode ekuitas.
Pada tanggal 26 April 2024, Agen Fasilitas On April 26, 2024, Global Facility Agent
Global Facility Agent (“GFA”) menyampaikan (“GFA”) announced the existence of Event of
bahwa telah terjadi Peristiwa Cidera Janji Default due to the historic Debt Service
(“Event of Default”) karena rasio Debt Service Coverage Ratio (“DSCR”) below the required
Coverage Ratio (“DSCR”) historis pada ratio value as of March 24, 2024, September
tanggal 24 Maret 2024, 24 September 2023, 24, 2023, September 24, 2021, March 24,
24 September 2021, 24 Maret 2021 dan 24 2021 and September 24, 2020.
September 2020 berada di bawah nilai rasio
yang dipersyaratkan.
Pada tanggal 27 September 2024, 30 Maret On September 27, 2024, March 30, 2022,
2022, 3 Oktober 2022 dan 30 Maret 2023, October 3, 2022 and March 30, 2023, SOL
SOL telah menginformasikan kepada Pemberi has informed the Lenders that the minimum
Pinjaman bahwa Debt Service Coverage Ratio required historical Debt Service Coverage
historis, masing-masing, pada Tanggal Ratio on the Calculation Date of September
Perhitungan 24 September 2024, 24 Maret 24, 2024, March 24, 2022, September 24,
2022, 24 September 2022 dan 24 Maret 2023 2022 and March 24, 2023, respectively, was
telah mencapai nilai yang dipersyaratkan. SOL met. SOL has also continuously inform the
juga telah menginformasikan perkembangan lender of the situation developments.
situasi kepada Pemberi Pinjaman.
77
Page 244
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
a. Entitas asosiasi dan ventura bersama - a. Associate and join ventures - equity method
metode ekuitas (lanjutan) (continued)
PT Medco Geopower Sarulla (“MGeoPS”) PT Medco Geopower Sarulla (“MGeoPS”)
(lanjutan) (continued)
Dengan mempertimbangkan tindakan yang Taking into account the ongoing actions to
sedang berlangsung untuk memperbaiki repair the well and associated production
sumur dan fasilitas produksi terkait, termasuk facilities, including preparing for a long-term
mempersiapkan rencana perbaikan jangka recovery plan and achieved the above
panjang serta terpenuhinya ketentuan financial covenants as of September 24, 2024.
keuangan pada tanggal 24 September 2024, SOL's management believes that the lenders
manajemen SOL berkeyakinan bahwa will not exercise their rights to take over the
pemberi pinjaman tidak akan menggunakan SOL project or require SOL to repay
hak mereka untuk mengambil alih proyek SOL outstanding loans, for at least the next 12
atau meminta SOL untuk melunasi pinjaman months, even though the DSCR for certain
yang belum dibayar, setidaknya selama 12 periods during 2020 - 2024 were below the
bulan ke depan, walaupun batasan DSCR di required ratio value and not yet obtained the
periode tertentu selama tahun 2020 - 2024 di waiver from creditors.
bawah nilai rasio yang dipersyaratkan dan
belum mendapatkan pembebasan (waiver)
dari para kreditur.
SOL telah memperoleh persetujuan Pemberi SOL has obtained the Lenders’ approval on
Pinjaman terkait dengan rencana perbaikan the long-term recovery plan, in which the
jangka panjang yang mana para sponsor telah sponsors have agreed to provide Standby
sepakat untuk menerbitkan Standby Letter of Letter of Credit (“SBLC”) to guarantee the
Credit (“SBLC”) untuk memastikan terpenuhi fulfillment of SOL’s payment terms to the
kewajiban pembayaran SOL kepada pemberi Lenders in accordance to the loan agreement
pinjaman selama periode pelaksanaan during the long-term recovery period.
perbaikan jangka panjang tersebut. Dalam hal However, in the event that the lender
pemberi pinjaman melaksanakan haknya, exercises its rights, the Company, as the
Perusahaan, sebagai pemegang 49% saham holder of 49% shares in MGeoPS, has
di MGeoPS, memiliki saldo kas yang cukup sufficient cash balance and available financing
dan fasilitas pembiayaan yang tersedia untuk facilities to fulfill the Company’s portion on the
memenuhi bagian kewajiban Perusahaan loan of SOL amounted to US$129,673,064.
atas pinjaman SOL yaitu sebesar Restoration of interest in SOL is dependent on
AS$129.673.064. Pemulihan kepentingan di risk and uncertainty over the success of
SOL bergantung kepada risiko dan running a long-term improvement effort. The
ketidakpastian atas keberhasilan menjalankan carrying amount of the interest in SOL does
usaha perbaikan jangka panjang. Nilai tercatat not include any adjustments that may arise
atas kepentingan di SOL tidak mencakup from these uncertainties.
penyesuaian yang mungkin timbul dari
ketidakpastian tersebut.
Perusahaan memberikan jaminan atas The Company guaranteed the loan which is
pinjaman yang diperoleh Sarulla Operations obtained by Sarulla Operations Ltd (“SOL”) at
Ltd (“SOL”) sebesar kepemilikan efektif the amount equivalent to its effective
Perusahaan di SOL sebesar 18,07% pada ownership in SOL amounted to 18.07% as of
tanggal 31 Desember 2024 dan 2023. December 31, 2024 and 2023.
Sehubungan dengan perjanjian pinjaman bank In relation with the bank loan agreement of
SOL, SOL tidak diperbolehkan untuk SOL, SOL is not allowed to distribute
membagikan dividen kepada para pemegang dividends to its shareholders without written
sahamnya tanpa persetujuan tertulis dari consent from the bank.
bank.
78
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The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
a. Entitas asosiasi dan ventura bersama - a. Associate and join ventures - equity method
metode ekuitas (lanjutan) (continued)
PT Medco Geopower Sarulla (“MGeoPS”) PT Medco Geopower Sarulla (“MGeoPS”)
(lanjutan) (continued)
Untuk tujuan pengujian penurunan nilai pada For impairment testing purposes on December
tanggal 31 Desember 2024 dan 2023, 31, 2024 and 2023, the calculation of
perhitungan jumlah terpulihkan investasi pada recoverable amount of the investment in
penyertaan saham di MGeoPS berdasarkan shares of stock in MGeoPS is based on
proyeksi arus kas yang didiskontokan dari discounted cash flow projections from the
rencana bisnis yang mencakup periode business plan covering long-term contract
kontrak jangka panjang. Penilaian tersebut period. The assessment require the use of
memerlukan penggunaan estimasi dan asumsi estimates and assumptions such as discount
seperti tingkat diskonto, cadangan, beban rate, reserves, capital expenses, operating
modal, biaya operasi dan kinerja operasi costs and operating performance (which
(termasuk volume produksi dan penjualan). includes production and sales volumes). The
Jumlah terpulihkan dihitung oleh penilai recoverable amount is calculated by an
independen. Perhitungan nilai wajar independent appraiser. The calculation of fair
dikategorikan level 3 dari hirarki nilai wajar. value is categorized level 3 of the fair value
hierarchy.
Asumsi-asumsi utama yang digunakan Key assumptions used
Paragraf berikut menunjukkan informasi The following paragraph shows the information
tentang input signifikan yang tidak dapat about significant unobservable inputs.
diobservasi. a. Discount rate
a. Tingkat diskonto As of December 31, 2024 and 2023, the
Pada tanggal 31 Desember 2024 dan pre-tax discount rate applied to the cash
2023, tingkat diskonto sebelum pajak yang flow projection are ranging from
diterapkan pada proyeksi arus kas masing- 6.74% - 8.18% and 6.22% - 7.88%,
masing sebesar 6,74% sampai 8,18% dan respectively.
6,22% sampai 7,88%.
b. Pengeluaran modal, biaya operasi dan b. Capital expenses, operating costs and
kinerja operasi operating performances
Asumsi-asumsi ini didasarkan pada kinerja These assumptions are based on the
operasi MGeoPS, beban modal dan MGeoPS’s operating performance, capital
rencana anggaran. expenses and budget plan.
c. Tarif listrik c. Electricity tariff
Asumsi ini didasarkan pada kontrak These assumptions are based on
penjualan listrik dengan PLN. electricity sales contract with PLN.
Perubahan asumsi yang digunakan oleh Changes to the assumptions used by the
manajemen untuk menentukan nilai wajar, management to determine the fair value, in
khususnya tingkat diskonto, dapat berdampak particular the discount rate, can have
signifikan terhadap hasil penilaian nilai wajar. significant impact on the result of the fair value
assessment.
Manajemen berpendapat bahwa tidak ada Management is of the opinion that there was
kemungkinan perubahan yang wajar atas no reasonably possible change in any of the
salah satu asumsi utama yang disebutkan di key assumptions stated above that would
atas yang akan menyebabkan jumlah tercatat cause the carrying amount to materially
secara material melebihi jumlah exceed its recoverable amount. As of
terpulihkannya. Pada tanggal 31 Desember December 31, 2024 and 2023, the
2024 dan 2023, nilai terpulihkan atas recoverable amount of the investment is
investasi melebihi nilai tercatatnya, sehingga higher than its carrying amounts, thus,
manajemen berpendapat bahwa tidak management is of the opinion that there is no
dibutuhkan penurunan nilai. impairment loss necessary.
79
Page 246
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
15. INVESTASI JANGKA PANJANG (lanjutan) 15. LONG-TERM INVESTMENTS (continued)
a. Entitas asosiasi dan ventura bersama - a. Associate and join ventures – equity method
metode ekuitas (lanjutan) (continued)
PT Medcopower Solar Sumbawa PT Medcopower Solar Sumbawa
(“MPSoS”) (“MPSoS”)
Pada tanggal 13 Desember 2022, PT On December 13, 2022, PT Medcopower
Medcopower Energi Baru (“MPEB”) Energi Baru (“MPEB”) divested 50% of its
melakukan divestasi sebesar 50% saham share ownership in MPSoS to PT Amman
kepemilikan pada MPSoS kepada PT Amman Mineral Internasional (“AMI”). After the
Mineral Internasional (“AMI”). Setelah divestment, MPEB revalued the 50% share
divestasi tersebut, MPEB mengukur kembali ownership in MPSoS at fair value. Subsequent
50% kepemilikan saham pada MPSoS pada to the divestment, the investment is accounted
nilai wajar. Setelah divestasi, investasi dicatat using equity method since the Group has joint
menggunakan metode ekuitas karena Grup control on MPSoS, with reference to PSAK
memiliki pengendalian bersama di MPSoS, 111.
dengan mengacu pada PSAK 111.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023,
manajemen berpendapat bahwa tidak ada management is of the opinion that there is no
indikator penurunan nilai di investasi di impairment indicator in the investment in
MPSoS. MPSoS.
b. Investasi ekuitas pada nilai wajar melalui b. Equity investments at fair value through other
penghasilan komprehensif lain comprehensive income
Grup memiliki investasi saham (saham tidak The Group has investments in shares of stock
diperdagangkan) yang diklasifikasikan oleh (unlisted shares) that are classified by the
Grup sebagai aset keuangan yang diukur Group as financial assets at fair value through
pada nilai wajar melalui penghasilan other comprehensive income in accordance
komprehensif lain sesuai dengan PSAK 109, with PSAK 109, with details as follows:
dengan rincian sebagai berikut:
PT Teknologi Data Infrastruktur (“TDI”) PT Teknologi Data Infrastruktur (“TDI”)
Pada tanggal 25 Oktober 2023, MPI dengan On October 25, 2023, MPI and PT Telkom
PT Telkom Data Ekosistem dan ST Dynamo ID Data Ekosistem and also ST Dynamo ID Pte.
Pte. Ltd. telah melakukan penyelesaian Ltd. have finalized completion/closing for new
(completion/closing) atas penerbitan saham shares subscription. MPI owns 296,826
baru di PT Teknologi Data Infrastruktur. MPI ordinary shares representing 5% of its share
memiliki 296.826 lembar saham biasa yang ownership in PT Teknologi Data Infrastruktur
mencerminkan 5% dari kepemilikan sahamnya (“TDI”).
dalam PT Teknologi Data Infrastruktur (“TDI”).
Pada tanggal 4 Oktober 2024, MPI melakukan On October 4, 2024, MPI completed/closed
penyelesaian (completion/closing) atas the issuance of new shares in TDI amounting
penerbitan saham baru di TDI sebesar to Rp40,250,000,000. After the completion,
Rp40.250.000.000. Setelah penyelesaian MPI owned 699,326 ordinary shares
tersebut, MPI memiliki 699.326 lembar saham representing 5% of its shareholding in TDI.
biasa yang mencerminkan 5% dari
kepemilikan sahamnya dalamTDI.
Pada tanggal 31 Desember 2024, MPI On December 31, 2024, MPI adjusted the
melakukan penyesuaian nilai buku investasi book value of TDI investment to its fair value
TDI ke nilai wajarnya sebesar by Rp3,912,463,788. The difference between
Rp3.912.463.788. Selisih dari penyesuaian the adjustment and the fair value is recognized
tersebut dengan nilai wajar diakui sebagai as other comprehensive income in the
penghasilan komprehensif lain dalam laporan statement of profit or loss and other
laba rugi dan penghasilan komprehensif lain comprehensive income for the year ended
untuk tahun yang berakhir pada 31 Desember December 31, 2024, in accordance with the
2024, sesuai dengan kebijakan akuntansi accounting policy chosen for the investment in
yang dipilih untuk investasi saham pada TDI. shares of TDI.
80
Page 247
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
16. ASET EKSPLORASI DAN EVALUASI 16. EXPLORATION AND EVALUATION ASSETS
Pada tanggal 31 Desember 2024 dan 2023, akun As of December 31, 2024 and 2023, this account
ini merupakan akumulasi biaya terkait dengan represents accumulated costs relating to the
penyelidikan umum, pengeluaran geologi dan general investigation, geological and geophysical
geofisika, survei topografi, studi lingkungan dan expenditures, topographic survey, environmental
biaya lainnya yang dikeluarkan untuk study and other costs incurred to develop the
mengembangkan area Proyek Geotermal Bonjol Bonjol Geothermal Project, located in West
yang berlokasi di Provinsi Sumatera Barat. Sumatera Province.
Dengan telah selesainya kegiatan eksplorasi dan With the completion of exploration activities and all
seluruh kondisi prasayarat, pada tanggal 21 Januari prerequisite conditions. on January 21, 2023, MCG
2023, MCG dan PLN menandatangani sertifikat and PLN signed a certificate confirming the
konfirmasi tanggal efektif PJBTL Pembangkit Listrik effective date of the Ijen Geothermal Power Plant
Tenaga Panas Bumi Ijen, yang menurut evaluasi PPA, which, based on the management's
manajemen terhadap PJBTL, merupakan awal evaluation on the PPA, is the beginning of the
terpenuhinya ketentuan pengakuan pendapatan fulfillment of the provisions for recognizing revenue
sepanjang waktu sesuai dengan PSAK 115. Oleh over time in accordance with PSAK 115. Therefore,
karena itu, pada tanggal tersebut, manajemen at that date, management charged the accumulated
membebankan akumulasi aset explorasi dan exploration and evaluation assets as construction
evaluasi sebagai beban konstruksi dan expenses and recorded the construction revenue
membukukan pendapatan konstruksi sebagai aset as concession financial assets (Note 13).
keuangan konsesi (Catatan 13).
2024 2023
Saldo awal tahun 3.330.951.275 1.125.230.314.692 Balance at beginning of year
Penambahan tahun berjalan 25.904.724.075 3.330.951.275 Addition in current year
Dibebankan sebagai beban
konstruksi - (1.125.230.314.692) Charged to construction expenses
Saldo akhir tahun 29.235.675.350 3.330.951.275 Balance at ending of year
17. ASET TAK BERWUJUD 17. INTANGIBLE ASSETS
Akun ini terdiri dari: This account consists:
2024 2023
Biaya Perolehan At Cost
Acquisition of Tanjung Jati B
Akuisisi Proyek Tanjung Jati B 28.931.301.095 28.931.301.095 Project
Goodwill 27.900.256.811 27.900.256.811 Goodwill
Perizinan 21.971.322.006 21.971.322.006 Licenses
Perangkat lunak 11.011.515.464 3.144.129.300 Software
Total Biaya Perolehan 89.814.395.376 81.947.009.212 Total Cost
Akumulasi Amortisasi Accumulated Amortization
Acquisition of Tanjung Jati B
Akuisisi Proyek Tanjung Jati B 25.688.898.468 25.314.888.468 Project
Perizinan 8.545.709.342 7.099.144.286 Licenses
Perangkat lunak 2.574.139.746 801.129.300 Software
Total Akumulasi Amortisasi 36.808.747.556 33.215.162.054 Total Accumulated Amortization
Penurunan Nilai Impairment
Goodwill 27.900.256.811 20.600.256.811 Goodwill
Perizinan 7.133.047.720 - Licenses
Nilai Tercatat Neto 17.972.343.289 28.131.590.347 Net Carrying Amount
Goodwill sebesar Rp10.982.717.600, The goodwill amounting to Rp10,982,717,600,
Rp9.617.539.211 dan Rp7.300.000.000 masing Rp9,617,539,211 and Rp7,300,000,000 arise from
masing timbul dari akuisisi NES, SHBar dan SAL. the acquisition of NES, SHBar and SAL,
respectively.
81
Page 248
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
17. ASET TAK BERWUJUD (lanjutan) 17. INTANGIBLE ASSETS (continued)
Akuisisi NES Acquisition of NES
Pada tanggal 29 Januari 2014, Perusahaan On January 29, 2014, the Company purchased
melakukan pembelian atas 80% saham NES yang 80% of NES shares owned by PT Nawakara Energi
dimiliki oleh PT Nawakara Energi Perkasa (“NEP”) Perkasa (“NEP”) resulting in a goodwill of
dengan goodwill sebesar Rp10.982.717.600. Pada Rp10,982,717,600. At the time of acquisition, the
saat diakuisisi, aset NES yang sebagian besar NES asset, the capitalized basic engineering
merupakan biaya perancangan desain dasar yang design cost, represents the fair value of the asset at
dikapitalisasi, merepresentasikan nilai wajar aset the date of acquisition. As of December 31, 2021,
pada tanggal akuisisi. Pada tanggal 31 Desember the Company recognized impairment loss for
2021, Perusahaan mengakui rugi penurunan nilai goodwill from acquisition of NES due to NES has
atas goodwill dari akuisisi NES dikarenakan pada not yet received approval for extending power plant
tanggal tersebut NES belum menerima construction period of the Power Purchase
perpanjangan masa konstruksi pembangkit pada Agreement (PPA) between NES and PT PLN
Perjanjian Jual Beli Tenaga Listrik (PJBTL) antara (Persero) Unit Induk Wilayah Sumatera Barat (“PT
NES dengan PT PLN (Persero) Unit Induk Wilayah PLNWSB”) on that date (Note 38).
Sumatera Barat (“PT PLNWSB”) (Catatan 38).
Akuisisi SHBar Acquisition of SHBar
Pada tanggal 1 Juli 2013, Perusahaan mengakuisisi On July 1, 2013, the Company purchased 100% of
100% saham SHBar yang dimiliki oleh PT SHBar shares owned by PT Sangsaka Hidro Tiara
Sangsaka Hidro Tiara dan PT Satria Wijaya and PT Satria Wijaya Kusuma resulting in a
Kusuma yang menimbulkan goodwill sebesar goodwill of Rp9,617,539,211. At the time of
Rp9.617.539.211. Pada saat diakuisisi, aset SHBar acquisition, the SHBar assets, mainly consists of
sebagian besar merupakan nilai tanah dan biaya the value of the land and basic engineering design
perancangan desain dasar konstruksi yang cost, represent the fair value of the assets at the
dikapitalisasi, merepresentasikan nilai wajar aset date of acquisition. As of December 31, 2018, the
pada tanggal akuisisi. Pada tanggal 31 Desember Company recognized impairment loss for goodwill
2018, Perusahaan mengakui rugi penurunan nilai from acquisition of SHBar due to SHBAR has not
atas goodwill dari akuisisi SHBar dikarenakan yet received approval for extending power plant
SHBAR belum menerima perpanjangan masa construction period of the Power Purchase
konstruksi pembangkit pada Perjanjian Jual Beli Agreement (“PPA”) between SHBar and PT
Tenaga Listrik (“PJBTL”) antara SHBar dengan PT PLNUIDJB.
PLNUIDJB.
Akuisisi SAL Acquisition of SAL
Pada tanggal 29 Juli 2011, Perusahaan melakukan On July 29, 2011, the Company purchased 70% of
pembelian atas 70% saham SAL yang dimiliki oleh SAL shares owned by PT Sangsaka Hidro Tiara
PT Sangsaka Hidro Tiara dengan goodwill sebesar with goodwill amounting to Rp7,300,000,000. At the
Rp7.300.000.000. Pada saat diakuisisi, aset SAL time of acquisition, SAL assets, mainly consist of
yang sebagian besar merupakan kendaraan dan capitalized vehicles and office equipment,
peralatan kantor yang dikapitalisasi, represent the fair value of the assets at the date of
merepresentasikan nilai wajar aset pada tanggal acquisition.
akuisisi.
Pada tanggal 31 Desember 2024, Perusahaan As of December 31, 2024, the Company
mengakui rugi penurunan nilai atas goodwill dari recognized an impairment loss on goodwill from the
akuisisi SAL, karena tidak ada pengembangan lebih acquisition of SAL, because there was no further
lanjut dari SAL dan entitas anaknya, sebesar development of SAL and its subsidiaries,
Rp7.300.000.000 (Catatan 36). amounting Rp7,300,000,000 (Note 36).
Lain-lain Other
Pada tanggal 31 Desember 2024, Perusahaan As of December 31, 2024, the Company
mengakui rugi penurunan nilai atas perijinan yang recognized an impairment loss on license from the
dibukukan pada saat akuisisi PT Pembangkitan acquisition of PT Pembangkitan Pusaka
Pusaka Parahiangan (“PPP”), karena tidak ada Parahiangan (“PPP”), because there was no further
pengembangan lebih lanjut dari PPP, sebesar development of PPP, amounting Rp7,133,047,720
Rp7.133.047.720 (Catatan 36). (Note 36).
82
Page 249
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
18. ASET TETAP 18. PROPERTY, PLANT AND EQUIPMENT
Rincian akun ini terdiri dari sebagai berikut: The details of this account are as follows:
2024
Penyesuaian
Saldo Awal/ Translasi/
Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Dekonsolidasi/ Translation Saldo Akhir/
Balance Additions Deductions Reclassifications Deconsolidated Adjustments Ending Balance
Biaya Perolehan Acquisition Cost
Tanah dan hak atas
tanah 56.786.176.345 - - - - 96.591.125 56.882.767.470 Land and landrights
Bangunan dan Buildings and
prasarana 100.092.783.257 1.691.900.518 - - - 3.247.045.477 105.031.729.252 improvements
Mesin 460.007.796.106 104.291.213.800 (98.346.530.074) - - - 465.952.479.832 Machinery
Control panel
Peralatan panel kontrol 28.739.353.492 - - - - 32.496.536 28.771.850.028 equipment
Perabotan,
perlengkapan dan Furniture, fixtures and
peralatan kantor 62.479.265.526 11.024.329.531 (2.909.678.920) - - 934.991.267 71.528.907.404 office equipment
Kendaraan bermotor 21.087.762.085 1.806.649.888 (2.100.000) - - 241.559.302 23.133.871.275 Motor vehicles
Telecommunication
Peralatan komunikasi 3.443.969.656 164.501.101 (460.418.900) - - 22.846.573 3.170.898.430 equipment
Peralatan 78.656.645.772 5.101.491.474 (2.362.274.398) - - 1.425.197.712 82.821.060.560 Tools
Leasehold Leasehold
improvement 69.855.857.127 1.518.895.757 - - - 336.929.199 71.711.682.083 improvements
Aset tetap dalam Construction in
pembangunan 225.674.092.842 781.063.085.748 - - - 26.095.704.816 1.032.832.883.406 progress
Total Biaya Total Acquisition
Perolehan 1.106.823.702.208 906.662.067.817 (104.081.002.292) - - 32.433.362.007 1.941.838.129.740 Cost
Accumulated
Akumulasi Penyusutan Depreciation
Bangunan dan Buildings and
prasarana (46.767.970.942) (5.091.124.839) - - - (1.246.734.869) (53.105.830.650) improvements
Mesin (239.071.869.347) (88.338.309.209) 85.955.204.093 - - (9.913) (241.454.984.376) Machinery
Control panel
Peralatan panel kontrol (27.879.241.743) (125.978.427) - - - (8.262.574) (28.013.482.744) equipment
Perabotan,
perlengkapan dan Furniture. fixtures and
peralatan kantor (41.618.442.773) (8.040.228.668) 2.747.177.530 - - (713.086.848) (47.624.580.759) office equipment
Kendaraan bermotor (17.864.080.185) (1.732.771.012) 2.100.000 - - (187.866.330) (19.782.617.527) Motor vehicles
Telecommunication
Peralatan komunikasi (2.992.550.472) (211.932.045) 460.418.900 - - (18.791.862) (2.762.855.479) equipment
Peralatan (57.078.783.227) (9.596.743.592) 2.362.274.398 - - (1.082.341.507) (65.395.593.928) Tools
Leasehold Leasehold
improvement (20.054.276.850) (5.919.812.317) - - - (198.658.116) (26.172.747.283) improvements
Total Akumulasi Total Accumulated
Penyusutan (453.327.215.539) (119.056.900.109) 91.527.174.921 - - (3.455.752.019) (484.312.692.746) Depreciation
Nilai Tercatat Neto 653.496.486.669 1.457.525.436.994 Net Carrying Amount
83
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The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
18. ASET TETAP (lanjutan) 18. PROPERTY, PLANT AND EQUIPMENT
(continued)
2023
Penyesuaian
Saldo Awal/ Translasi/
Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Dekonsolidasi/ Translation Saldo akhir/
Balance Additions Deductions Reclassifications Deconsolidated Adjustments Ending Balance
Biaya Perolehan Acquisition Cost
Tanah dan hak atas
tanah 56.826.962.142 - - - - (40.785.797) 56.786.176.345 Land and landrights
Bangunan dan Buildings and
prasarana 101.449.654.029 - - - - (1.356.870.772) 100.092.783.257 improvements
Mesin 640.525.523.737 58.009.229.368 (238.526.956.999) - - - 460.007.796.106 Machinery
Control panel
Peralatan panel kontrol 29.540.929.364 26.000.000 (813.854.144) - - (13.721.728) 28.739.353.492 equipment
Perabotan,
perlengkapan dan Furniture. fixtures and
peralatan kantor 53.357.515.211 9.951.250.336 (64.404.768) - - (765.095.253) 62.479.265.526 office equipment
Kendaraan bermotor 20.289.705.097 919.127.590 - - - (121.070.602) 21.087.762.085 Motor vehicles
Telecommunication
Peralatan komunikasi 3.302.363.060 256.540.250 (90.640.000) - - (24.293.654) 3.443.969.656 equipment
Peralatan 74.014.638.156 5.218.476.135 - - - (576.468.519) 78.656.645.772 Tools
Leasehold Leasehold
improvement 69.205.440.347 791.866.723 - - - (141.449.943) 69.855.857.127 improvements
Aset tetap dalam Construction in
pembangunan 188.565.253.001 531.270.377.974 - (4.250.971.576) (491.303.229.114) 1.392.662.557 225.674.092.842 progress
Total Biaya Total Acquisition
Perolehan 1.237.077.984.144 606.442.868.376 (239.495.855.911) (4.250.971.576) (491.303.229.114) (1.647.093.711) 1.106.823.702.208 Cost
Accumulated
Akumulasi Penyusutan Depreciation
Bangunan dan Buildings and
prasarana (42.189.050.426) (4.973.123.775) - - - 394.203.259 (46.767.970.942) improvements
Mesin (393.222.097.863) (83.497.789.036) 237.648.372.121 - - (354.569) (239.071.869.347) Machinery
Control panel
Peralatan panel kontrol (28.474.848.359) (90.525.955) 813.854.144 - - (127.721.573) (27.879.241.743) equipment
Perabotan,
perlengkapan dan Furniture. fixtures and
peralatan kantor (35.600.699.977) (6.351.761.602) 54.014.768 - - 280.004.038 (41.618.442.773) office equipment
Kendaraan bermotor (16.176.954.705) (1.758.500.860) - - - 71.375.380 (17.864.080.185) Motor vehicles
Telecommunication
Peralatan komunikasi (2.796.474.371) (207.782.893) 90.640.000 - - (78.933.208) (2.992.550.472) equipment
Peralatan (48.178.551.064) (9.197.663.905) - - - 297.431.742 (57.078.783.227) Tools
Leasehold Leasehold
improvement (13.849.150.494) (6.279.335.372) - - - 74.209.016 (20.054.276.850) improvements
Total Akumulasi Total Accumulated
Penyusutan (580.487.827.259) (112.356.483.398) 238.606.881.033 - - 910.214.085 (453.327.215.539) Depreciation
Nilai Tercatat Neto 656.590.156.885 653.496.486.669 Net Carrying Amount
Penyusutan dialokasikan sebagai berikut: Depreciation is charged to the following:
2024 2023
Beban pokok penjualan
(Catatan 33) 93.219.319.628 88.501.881.979 Cost of revenues (Note 33)
Beban operasional (Catatan 34) 25.837.580.481 23.854.601.419 Operating expenses (Note 34)
Jumlah 119.056.900.109 112.356.483.398 Total
Aset tetap tertentu digunakan sebagai jaminan atas Certain property, plant and equipment are used as
utang yang diperoleh oleh Grup (Catatan 25). collateral to the loans obtained by the Group (Note
25).
Persediaan (Catatan 9) dan aset tetap, termasuk Inventories (Note 9) and property, plant and
aset tetap dalam perjanjian mengandung sewa equipment including property plant and equipment,
(Catatan 11), telah diasuransikan terhadap under an arrangement containing a lease (Note
kerusakan material, kerusakan mesin dan business 11), are insured against material damage,
interruption dengan nilai pertanggungan sebesar machinery breakdown and business interruption
AS$633.734.665 dan Rp324.469.888.721 pada with a coverage of US$633,734,665 and
tanggal 31 Desember 2024 dan AS$579.110.936 Rp324,469,888,721 as of December 31, 2024 and
dan Rp534.907.279.750 pada tanggal 31 US$579,110,936 and Rp534,907,279,750, as of
Desember 2023. Manajemen berkeyakinan bahwa December 31, 2023. Management believes that the
nilai pertanggungan tersebut adalah cukup untuk insurance coverage is adequate to cover possible
menutupi kemungkinan kerugian atas aset yang losses that may arise from such risks.
dipertanggungkan.
84
Page 251
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
18. ASET TETAP (lanjutan) 18. PROPERTY, PLANT AND EQUIPMENT
(continued)
Pelepasan aset tetap adalah sebagai berikut: Disposals of property, plant and equipment are as
follows:
2024 2023
Hasil pelepasan neto 314.256.360 9.121.057.568 Net proceeds
Nilai tercatat 12.553.827.371 888.974.878 Carrying value
Laba (rugi) (12.239.571.011) 8.232.082.690 Gain (loss)
Pada tanggal 31 Desember 2024 dan 2023, biaya As of December 31, 2024 and 2023, the
perolehan aset tetap oleh Grup yang telah acquisition cost of property, plant and equipment
disusutkan penuh namun masih digunakan masing- that have been fully depreciated but are still being
masing sebesar Rp131.999.809.006 dan used by the Group amounted to
Rp153.034.735.049, terdiri atas perabotan, Rp131,999,809,006 and Rp153,034,735,049,
perlengkapan dan peralatan kantor, kendaraan respectively, consisting of furniture, fixtures and
bermotor dan peralatan (tidak diaudit). office equipment, motor vehicle and tools
(unaudited).
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, based on
berdasarkan penelaahan atas estimasi umur review of estimated useful lives, residual values
manfaat, nilai residu dan metode penyusutan aset and methods of depreciation of fixed assets,
tetap, manajemen berkeyakinan bahwa tidak management believes that there are no changes in
terdapat perubahan atas estimasi masa manfaat, the useful lives, residual values and method of
nilai residu dan metode penyusutan aset tetap. depreciation of fixed assets.
Pada tanggal 31 Desember 2024 dan 2023 aset As of December 31, 2024 and 2023, the
tetap dalam pembangunan terutama merupakan construction in progress mainly represents
konstruksi mesin PT Energi Listrik Batam (“ELB”). construction of machinery of PT Energi Listrik
Aset dalam penyelesaian diestimasikan selesai Batam (“ELB”). Construction in progress is
pada tahun 2025 dengan tingkat penyelesaian estimated to be fully completed in 2025 with
sebesar 89,49% pada tanggal 31 Desember 2024. percentage completion of 89.49% as of December
Manajemen berkeyakinan tidak terdapat hambatan 31, 2024. Management believes that there will be
dalam proses penyelesaian aset tetap dalam no difficulties in the completion of the construction
pembangunan. in progress.
Pada tanggal 31 Desember 2024 dan 2023, tidak As of December 31, 2024 and 2023, there is no
ada aset tetap yang tidak digunakan sementara. temporary idle property, plant and equipment.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, management
manajemen berpendapat bahwa penyisihan is of the opinion that the allowance for impairment
kerugian penurunan nilai atas aset tetap tidak loss on property, plant and equipment is not
diperlukan. needed.
Selama tahun yang berakhir pada tanggal 31 During the year ended December 31, 2024, the
Desember 2024, beban pinjaman yang total borrowing costs capitalized by certain
dikapitalisasi oleh entitas anak tertentu ke aset subsidiary to property, plant and equipment
tetap adalah sebesar Rp30.180.916.699 (2023: amounted to Rp30,180,916,699 (2023: RpNil). The
RpNil). Suku bunga efektif yang digunakan untuk effective interest rates used to determine the
menentukan biaya pinjaman yang dikapitalisasi borrowing costs eligible for capitalization was
sebesar 6,68% untuk tahun yang berakhir pada 6.68% for the year ended December 31, 2024.
tanggal 31 Desember 2024.
Grup memiliki Hak atas tanah atau “Hak Guna The Group have landrights or “Hak Guna
Bangunan” (“HGB”), selain hak atas tanah yang Bangunan” (“HGB”), other than the landrights still in
masih dalam proses untuk terdaftar atas nama process of being registered to the Group’s name,
Grup, akan berakhir pada tahun 2043 sampai that will expire on 2043 until 2047.
dengan 2047.
Manajemen berpendapat bahwa hak atas tanah Management believes that the existing landrights
yang ada akan diperpanjang oleh Pemerintah will be renewed by the Government of Indonesia
Indonesia pada saat jatuh tempo, karena upon expiration because under the laws of
berdasarkan hukum Indonesia, hak atas tanah yang Indonesia the landrights use can be renewed upon
digunakan dapat diperpanjang dengan permintaan the request of the HGB holder (subject to the
dari pemegang HGB (bergantung pada Government of Indonesia’s approval).
persetujuan Pemerintah Indonesia).
85
Page 252
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
19. UANG MUKA PEMBELIAN ASET TETAP 19. ADVANCES FOR PURCHASE OF PROPERTY,
PLANT AND EQUIPMENT
Pada tanggal 31 Desember 2024, akun ini terutama As of December 31, 2024, this account mainly
merupakan pembayaran uang muka terkait dengan represents advance payments related to project of
proyek pembangkit listrik solar Bali Barat. Bali West photovoltaic.
Pada tanggal 31 Desember 2023, akun ini terutama As of December 31, 2023, this account mainly
merupakan pembayaran uang muka terkait dengan represents advance payments related to project of
proyek pembangkit listrik solar photovoltaik Bali Bali West and Bali East solar photovoltaics power
Barat dan Bali Timur. plant.
20. ASET LANCAR DAN ASET TIDAK LANCAR 20. OTHER CURRENT AND NON-CURRENT
LAINNYA ASSETS
Pada tanggal 31 Desember 2024, akun aset lancar As of December 31, 2024, the other current asset
lainnya terutama merupakan akumulasi biaya account mainly represents the accumulation of
persiapan pekerjaan operasi dan pemeliharan, preparation costs for operation and maintenance
berupa pengadaan peralatan, perlengkapan dan work, in the form of procurement of equipment,
kontrak lainnya, yang harus dilaksanakan sesuai supplies and other contracts, which must be carried
dengan kontrak sebagai persiapan dimulainya out in accordance with the contract in preparation
tahapan operasi komersial pada PLTU Sulut-1 for the start of the commercial operation phase at
(2x50 MW) milik PT PLN (Persero). Akun aset tidak PLTU Sulut-1 (2x50 MW) owned by PT PLN
lancar lainnya sebagian besar merupakan biaya (Persero). The other non-current assets account
pekerjaan pemeliharaan besar di TJB yang mainly consist of deferred major maintenance costs
ditangguhkan. in TJB.
Pada tanggal 31 Desember 2023, akun aset lancar As of December 31, 2023, other current assets
lainnya terutama merupakan akumulasi biaya mainly represents the accumulation of preparation
persiapan pekerjaan operasi dan pemeliharan, costs for operation and maintenance work, in the
berupa pengadaan peralatan, perlengkapan dan form of procurement of equipment, supplies and
kontrak lainnya, yang harus dilaksanakan sesuai other contracts, which must be carried out in
dengan kontrak sebagai persiapan dimulainya accordance with the contract in preparation for the
tahapan operasi komersial pada PLTU Timor-1 start of the commercial operation phase at PLTU
(2x50 MW) dan PLTU Sulut-1 (2x50 MW) milik PT Timor-1 (2x50 MW) and PLTU Sulut-1 (2x50 MW)
PLN (Persero). Akun aset tidak lancar lainnya owned by PT PLN (Persero). The other non-current
sebagian besar merupakan biaya pekerjaan assets account mainly consist of deferred major
pemeliharaan besar di TJB yang ditangguhkan. maintenance costs in TJB.
86
Page 253
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
21. UTANG USAHA 21. TRADE PAYABLES
Akun ini terdiri atas utang kepada: This account consists of payables to:
i. Berdasarkan Pemasok i. By Supplier
2024 2023
PT Inti Karya Persada Tehnik PT Inti Karya Persada Tehnik
(Catatan 38) 167.867.110.912 - (Note 38)
PT Perusahaan Gas Negara PT Perusahaan Gas Negara
(Persero) Tbk ("PT PGN (Persero) Tbk ("PT PGN
(Persero) Tbk") (Catatan 38) 47.906.037.151 44.354.417.162 (Persero) Tbk") (Note 38)
PT Pertamina EP (Catatan 38) 7.638.312.961 7.010.432.321 PT Pertamina EP (Note 38)
AF-Consult Ltd. (Catatan 38) 7.547.056.814 4.598.506.470 AF-Consult Ltd. (Catatan 38)
Marsh Indonesia 3.400.358.348 - Marsh Indonesia
PT Kasmar Tiar Raya (Catatan
38) 1.673.057.850 1.673.057.850 PT Kasmar Tiar Raya (Note 38)
Milbank, Tweed, Hadley & Milbank, Tweed, Hadley &
McCloy LLP 1.523.704.874 - McCloy LLP
PT Tritama Mitra Lestari 1.443.821.826 - PT Tritama Mitra Lestari
PT Istech Resources Asia 1.161.006.420 1.172.753.273 PT Istech Resources Asia
PT Howden Insurance Brokers PT Howden Insurance Brokers
Indonesia 883.780.036 5.933.983.234 Indonesia
PT Multi Fabrindo Gemilang - 9.101.181.446 PT Multi Fabrindo Gemilang
Alba Power - 6.675.794.742 Alba Power
PT Grid Solutions Indonesia - 4.595.365.905 PT Grid Solutions Indonesia
PT Citra Panji Manunggal PT Citra Panji Manunggal (Note
(Catatan 38) - 3.835.438.951 38)
Clifford Chance LLP - 2.111.086.310 Clifford Chance LLP
Perum Perhutani Divisi Perum Perhutani Divisi
Regional Jawa Timur - 1.846.122.000 Regional Jawa Timur
KAP Purwantono, Sungkoro & KAP Purwantono, Sungkoro &
Surja - 1.470.264.590 Surja
PT General Electric Operations PT General Electric Operations
Indonesia - 906.161.460 Indonesia
Lain-lain (masing-masing di Others (each below
bawah Rp1.000.000.000) 19.819.155.046 21.262.877.213 Rp1,000,000,000)
Total 260.863.402.238 116.547.442.927 Total
ii. Berdasarkan Umur ii. By Aging Category
2024 2023
Sampai dengan 1 bulan 223.037.476.697 82.951.816.672 Up to 1 month
1-3 bulan 14.884.821.592 13.625.179.956 1-3 months
3-6 bulan 2.245.814.817 246.334.066 3-6 months
6 bulan - 1 tahun 275.242.992 980.697.545 6 months - 1 year
Lebih dari 1 tahun 20.420.046.140 18.743.414.688 More than 1 year
Total 260.863.402.238 116.547.442.927 Total
iii. Berdasarkan Mata Uang iii. By Currency
2024 2023
Dolar Amerika Serikat 109.657.551.770 69.344.154.850 United States Dollar
Rupiah 151.198.616.498 47.087.536.676 Rupiah
Lainnya 7.233.970 115.751.401 Others
Total 260.863.402.238 116.547.442.927 Total
87
Page 254
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
21. UTANG USAHA (lanjutan) 21. TRADE PAYABLES (continued)
Akun ini merupakan utang kepada pemasok yang This account represents payables to suppliers
timbul terutama dari jasa profesional dan arising mainly from professional and construction
konstruksi, pembelian gas, persediaan, suku services, purchases of gas, inventories, spare
cadang dan lain-lain. parts, and others.
Utang usaha baik dari pemasok dalam negeri Trade payables to both local and foreign suppliers
maupun luar negeri tanpa bunga, tidak dijamin dan are non-interest bearing, unsecured and generally
secara umum mempunyai masa kredit sampai have credit terms of up to one month.
dengan satu bulan.
22. UTANG LAIN-LAIN DAN LIABILITAS KONTRAK 22. OTHER PAYABLES AND CONTRACT LIABILITY
a. Utang lain-lain a. Other payables
Akun ini terdiri atas utang kepada: This account consists of payables to:
2024 2023
PT Ormat Geothermal Power PT Ormat Geothermal Power
("OGP") 515.655.155.610 246.776.938.520 ("OGP")
RH International (Singapore) RH International (Singapore)
Corporation Pte. Ltd. 104.306.153.980 99.491.626.640 Corporation Pte. Ltd.
Mitsui Oil Exploration Co., Ltd. 89.941.530.000 85.790.040.000 Mitsui Oil Exploration Co., Ltd.
Solar Philippines Power Project Solar Philippines Power Project
Holdings, Inc. 85.475.824.612 56.554.731.685 Holdings, Inc.
PT Universal Gas Energy
("UGE") 60.020.930.935 53.207.625.045 PT Universal Gas Energy ("UGE")
KPIC Netherlands B.V ("KPN") 48.602.445.487 52.501.245.487 KPIC Netherlands B.V ("KPN")
PT Sangsaka Hidro Tiara
("SHT") 43.861.144.414 43.849.039.494 PT Sangsaka Hidro Tiara ("SHT")
PT Nawakara Energi Perkasa PT Nawakara Energi Perkasa
("NEP") 10.200.000.000 13.200.000.000 ("NEP")
PT Kustodian Sentral Efek PT Kustodian Sentral Efek
Indonesia 8.089.375.000 8.089.375.000 Indonesia
Kanden Power-Tech Kanden Power-Tech Corporation
Corporation ("KPT") 5.445.871.721 5.833.471.721 ("KPT")
PT Putera Instrumenindo 3.572.756.352 - PT Putera Instrumenindo
PT PLN Batam 2.144.072.026 1.660.780.493 PT PLN Batam
PT Jamsostek 1.624.455.633 1.818.422.024 PT Jamsostek
PT Riza Utama Teknik 1.335.250.000 - PT Riza Utama Teknik
PT Kalinyamat Perkasa 1.229.954.814 - PT Kalinyamat Perkasa
PT Wasa Mitra Engineering 607.022.916 2.199.921.287 PT Wasa Mitra Engineering
PT Toshiba Asia Pacific PT Toshiba Asia Pacific
Indonesia - 22.731.590.300 Indonesia
PT Mencast Offshore and
Marine - 797.212.203 PT Mencast Offshore and Marine
Lain-lain (masing-masing di Others (each below
bawah Rp1.000.000.000) 28.838.625.120 24.965.673.068 Rp1,000,000,000)
Total 1.010.950.568.620 719.467.692.967 Total
Dikurangi porsi jangka panjang 60.020.869.805 52.960.391.760 Less long-term portion
Porsi jangka pendek 950.929.698.815 666.507.301.207 Current portion
88
Page 255
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
22. UTANG LAIN-LAIN DAN LIABILITAS KONTRAK 22. OTHER PAYABLES AND CONTRACT LIABILITY
(lanjutan) (continued)
b. Liabilitas kontrak b. Contract liability
Akun ini terdiri atas utang kepada: This account consists of payables to:
2024 2023
PLN-PLTU Timor 39.649.167.462 - PLN-PLTU Timor
Porsi jangka panjang 31.252.873.177 - Long-term portion
Porsi jangka pendek 8.396.294.285 - Current portion
Utang kepada OGP merupakan utang terkait biaya The amount payable to OGP represents payable
eksplorasi dan evaluasi tenaga panas bumi. related exploration and evaluation costs of the
geothermal power plant.
Utang kepada RH International (Singapore) The amount payable to RH International
Corporation Pte. Ltd. merupakan utang terkait biaya (Singapore) Corporation Pte. Ltd. represent
pengembangan proyek pembangkit listrik Riau. payable related project development cost of Riau
power plant.
Utang kepada Mitsui Oil Exploration Co. Ltd. The amount payable to Mitsui Oil Exploration Co.
merupakan utang terkait biaya pengembangan Ltd. represent payable related project development
proyek geotermal Bonjol. cost of Bonjol geothermal.
Utang kepada Solar Philippines Power Project The amount payable to Solar Philippines Power
Holdings Inc. merupakan utang terkait biaya Project Holdings, Inc. represents payable related
pengembangan proyek pembangkit listrik solar Bali project development cost of Bali West and Bali East
Barat dan Bali Timur. Solar power plant.
Utang kepada UGE, pemegang saham UBE, The amount payable to UGE, a shareholder of
merupakan biaya konstruksi pembangkit listrik UBE, represents construction cost of the Tanjung
Tanjung Uncang yang dibayarkan oleh UGE Uncang power plant advanced by UGE (Note 7a).
(Catatan 7a). Utang kepada UGE akan dibayarkan The payable to UGE will be paid after the
setelah pelunasan pinjaman jangka panjang ELB settlement of the long-term loan of ELB from PT
dari PT Bank Syariah Indonesia Tbk (Catatan 25). Bank Syariah Indonesia Tbk (Note 25).
Utang kepada KPN dan KPT merupakan dividen The amount payable to KPN and KPT represents
yang belum dibayarkan dan uang muka. unpaid dividends and advances.
Utang kepada SHT merupakan biaya konstruksi The amount payable to SHT represents
pembangkit listrik tenaga mini-hidro yang construction costs of the mini-hydro power plant
dibayarkan oleh SHT (Catatan 7a). advanced by SHT (Note 7a).
Utang kepada NEP, pemegang saham NES, The amount payable to NEP, a shareholder of
merupakan biaya pembebasan lahan dan design NES, represent land acquisitions and design study
study PLTM Sumpur yang dibayarkan oleh NEP. of PLTM Sumpur paid by NEP.
Liabilitas kontrak merupakan pendapatan mobilisasi Contract liability represents unamortized
yang belum diamortisasi sehubungan dengan mobilization revenue related to operation and
pekerjaan operasi dan pemeliharaan untuk PLN maintenance service for PLN Timor-1 2 x 50 MW.
Timor-1 2 x 50 MW.
89
Page 256
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN 23. TAXES
a. Rincian utang pajak sebagai berikut: a. Taxes payable consist of the following:
2024 2023
Perusahaan The Company
Pajak penghasilan Income taxes
Pasal 4(2) 335.829.521 9.493.904 Article 4(2)
Pasal 21 4.176.572.904 6.386.430.330 Article 21
Pasal 23 83.583.608 161.150.382 Article 23
Sub-total 4.595.986.033 6.557.074.616 Sub-total
Entitas anak The subsidiaries
Pajak penghasilan badan Corporate Income tax
Pasal 29 28.862.226.325 31.398.777.920 Article 29
Pajak penghasilan Income taxes
Pasal 4(2) 4.940.137.437 78.207.996 Article 4(2)
Pasal 21 3.044.015.960 5.000.823.167 Article 21
Pasal 23 962.374.271 825.549.421 Article 23
Pasal 25 1.263.458.841 3.331.991.855 Article 25
Pasal 26 612.152.640 6.022.260 Article 26
Pajak pertambahan nilai
("PPN") – 12.248.713.620 Value-added tax ("VAT")
Sub-total 39.684.365.474 52.890.086.239 Sub-total
Total 44.280.351.507 59.447.160.855 Total
90
Page 257
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
b. Rekonsiliasi antara beban pajak penghasilan b. A reconciliation between the income tax
yang dihitung berdasarkan tarif pajak yang expense calculated by applying the applicable
berlaku terhadap laba sebelum pajak tax rate to the profit before income tax and
penghasilan dan beban pajak penghasilan income tax expense as shown in the
yang disajikan pada laporan laba rugi dan consolidated statements of profit or loss and
penghasilan komprehensif lain konsolidasian other comprehensive incomeis is as follows:
adalah sebagai berikut:
2024 2023
Laba (rugi) sebelum pajak
penghasilan pada laporan Profit (loss) before income tax
laba rugi dan penghasilan per consolidated statements
komprehensif lain of profit or loss and other
konsolidasian (47.482.051.418) 162.421.874.042 comprehensive income
Dikurangi laba sebelum pajak Less profit before income tax of
penghasilan entitas anak (184.089.446.762) (466.860.909.340) Subsidiaries
Rugi sebelum pajak Loss before income tax - the
penghasilan - Perusahaan (231.571.498.180) (304.439.035.298) Company
Pajak penghasilan sesuai tarif Income tax expense at
yang berlaku (50.945.729.600) (66.976.587.766) applicable tax rate
Efek pajak atas penyesuaian
fiskal: Tax effect of fiscal adjustments:
Penghasilan bukan objek
pajak (22.321.543.199) (16.167.368.360) Non-taxable income
Beban yang tidak dapat
dikurangkan 22.941.576.760 17.772.870.685 Non-deductible expenses
Pendapatan bunga yang Interest income subjected to
dikenakan pajak final (1.184.621.185) (3.462.743.303) final tax
Aset pajak tangguhan yang Unrecognized deferred tax asset
tidak diakui untuk rugi fiskal 49.288.549.251 71.854.147.692 on fiscal loss carryforward
(Manfaat)/Beban pajak Income tax (benefit)/expense -
penghasilan - Perusahaan (2.221.767.973) 3.020.318.948 the Company
Beban pajak penghasilan - Income tax expense - the
Entitas anak 63.128.740.821 146.827.240.052 Subsidiaries
Beban pajak penghasilan -
neto 60.906.972.848 149.847.559.000 Income tax expense - net
c. Beban pajak Grup terdiri dari sebagai berikut: c. Income tax expense of the Group consists of
the following:
2024 2023
Beban pajak kini Current income tax expense
Perusahaan - - The Company
Entitas anak 69.254.531.879 71.748.155.752 Subsidiaries
Sub-total 69.254.531.879 71.748.155.752 Sub-total
Beban pajak tangguhan Deferred income tax expense
Perusahaan (2.221.767.973) 3.020.318.948 The Company
Entitas anak (6.125.791.058) 75.079.084.300 Subsidiaries
Sub-total (8.347.559.031) 78.099.403.248 Sub-total
Total income tax expense -
Total beban pajak - neto 60.906.972.848 149.847.559.000 net
91
Page 258
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
d. Aset pajak tangguhan d. Deferred tax assets
Rincian aset dan liabilitas pajak tangguhan Details of deferred tax assets and liabilities as
pada tanggal 31 Desember 2024 dan 2023 of December 31, 2024 and 2023, are as
adalah sebagai berikut: follows:
2024
(Dibebankan)
Dikreditkan ke
laporan laba rugi
konsolidasian/ (Dibebankan)
(Charged) Credit to Dikreditkan ke
consolidated ekuitas/
31 Desember 2023/ statement of profit (Charged) Credit to 31 Desember 2024/
December 31, 2023 or loss equity December 31, 2024
Perusahaan The Company
Aset (liabilitas) pajak
tangguhan Deferred tax asset (liability)
Employee service
Liabilitas imbalan kerja 8.076.638.680 2.376.111.540 (479.409.920) 9.973.340.300 entitlements
Properties, plant and
Aset tetap 2.817.630.348 148.408.692 - 2.966.039.040 equipment
Aset hak guna (3.657.117.340) 890.652.367 - (2.766.464.973) Right-of-use assets
Liabilitas sewa 4.050.946.852 (1.193.404.626) - 2.857.542.226 Lease liabilities
Penyisihan atas kerugian Allowance for expected
kredit ekpektasian 8.048.626.256 - - 8.048.626.256 credit losses
Keuntungan nilai wajar atas Gain on fair value on long-
investasi jangka panjang (148.554.866.921) - - (148.554.866.921) term investment
Liabilitas pajak tangguhan -
neto (129.218.142.125) 2.221.767.973 (479.409.920) (127.475.784.072) Deferred tax liability - net
Entitas anak The Subsidiaries
Aset pajak tangguhan 12.039.741.417 51.536.568.088 - 63.576.309.505 Deferred tax assets
Liabilitas pajak tangguhan (527.588.889.835) (45.410.777.030) (33.346.044.748) (606.345.711.613) Deferred tax liabilities
Konsolidasian Consolidated
Aset pajak tangguhan 12.039.741.417 51.536.568.088 - 63.576.309.505 Deferred tax assets
Liabilitas pajak tangguhan (656.807.031.960) (43.189.009.057) (33.825.454.668) (733.821.495.685) Deferred tax liabilities
Jumlah Beban Pajak Total Deferred Tax
Tangguhan Grup 8.347.559.031 Expense of the Group
Beban Pajak Tangguhan Deferred Tax Expense
dari pendapatan from other
komprehensif lain (33.825.454.668) comprehensive income
92
Page 259
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
d. Aset pajak tangguhan (lanjutan) d. Deferred tax assets (continued)
Rincian aset dan liabilitas pajak tangguhan ‘Details of deferred tax assets and liabilities as
pada tanggal 31 Desember 2024 dan 2023 of December 31, 2024 and 2023, are as
adalah sebagai berikut: follows:
2023
(Dibebankan)
Dikreditkan ke
laporan laba rugi
konsolidasian/ (Dibebankan)
(Charged) Credit to Dikreditkan ke
consolidated ekuitas/
31 Desember 2022/ statement of profit (Charged) Credited 31 Desember 2023/
December 31, 2022 or loss to equity December 31, 2023
Perusahaan The Company
Aset (liabilitas) pajak
tangguhan Deferred tax asset (liability)
Employee service
Liabilitas imbalan kerja 7.402.738.860 536.677.460 137.222.360 8.076.638.680 entitlements
Properties, plant and
Aset tetap 7.777.920.344 (4.960.289.996) - 2.817.630.348 equipment
Aset hak guna (4.577.698.795) 920.581.455 - (3.657.117.340) Right-of-use assets
Liabilitas sewa 5.111.126.179 (1.060.179.327) - 4.050.946.852 Lease liabilities
Nilai wajar aset tersedia Fair value available for sale
untuk dijual (1.542.891.460) 1.542.891.460 - - investment
Penyisihan atas kerugian Allowance for expected
kredit ekpektasian 8.048.626.256 - - 8.048.626.256 credit losses
Keuntungan nilai wajar atas Gain on fair value on long-
investasi jangka panjang (148.554.866.921) - - (148.554.866.921) term investment
Liabilitas pajak tangguhan -
neto (126.335.045.537) (3.020.318.948) 137.222.360 (129.218.142.125) Deferred tax liability - net
Entitas anak The Subsidiaries
Aset pajak tangguhan 9.793.551.755 2.246.189.662 - 12.039.741.417 Deferred tax assets
Liabilitas pajak tangguhan (461.541.834.944) (77.325.273.962) 11.278.219.071 (527.588.889.835) Deferred tax liabilities
Konsolidasian Consolidated
Aset pajak tangguhan 9.793.551.755 2.246.189.662 - 12.039.741.417 Deferred tax assets
Liabilitas pajak tangguhan (587.876.880.481) (80.345.592.910) 11.415.441.431 (656.807.031.960) Deferred tax liabilities
Jumlah Beban Pajak Total Deferred Tax
Tangguhan Grup (78.099.403.248) Expense of the Group
Manfaat Pajak Tangguhan Deferred Tax Benefit from
dan pendapatan other comprehensive
komprehensif lain 11.415.441.431 income
93
Page 260
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
e. Beban pajak kini e. Current tax
Rekonsiliasi antara laba sebelum pajak A reconciliation between profit before income
penghasilan menurut laporan laba rugi dan tax from continuing operations per
penghasilan komprehensif lain konsolidasian consolidated statements of profit or loss and
adalah sebagai berikut: other comprehensive income is as follows:
2024 2023
Laba (rugi) sebelum pajak
penghasilan pada laporan Profit (loss) before income tax
laba rugi dan penghasilan per consolidated statements
komprehensif lain of profit or loss and other
konsolidasian (47.482.051.418) 162.421.874.042 comprehensive income
Dikurangi laba sebelum pajak
penghasilan entitas anak Less profit before income tax of
konsolidasian (184.089.446.762) (466.860.909.340) consolidated subsidiaries
Rugi sebelum pajak Loss before income tax - the
penghasilan - Perusahaan (231.571.498.180) (304.439.035.298) Company
Koreksi fiskal: Fiscal corrections:
Beda tetap (2.566.237.709) (8.442.004.445) Permanent differences
Beda temporer 10.098.875.659 (13.728.722.490) Temporary differences
Estimasi rugi fiskal tahun Estimated fiscal loss for the
berjalan (224.038.860.230) (326.609.762.233) year
Rugi fiskal tahun-tahun
sebelumnya (470.242.398.206) (143.632.635.973) Prior years fiscal losses
Rugi fiskal kumulatif - Accumulated losses - the
Perusahaan (694.281.258.436) (470.242.398.206) Company
Estimasi pajak penghasilan kini - - Estimated current income tax
Dikurangi pajak penghasilan
dibayar dimuka: Less prepayment of income tax:
Pasal 23 2.905.991.916 12.132.904.148 Article 23
Estimasi pengembalian pajak Estimated claim for tax refund
- Perusahaan (2.905.991.916) (12.132.904.148) - the Company
Jumlah laba fiskal Grup untuk tahun pajak The amount of the Group’s income tax for the
2024 dan 2023 sesuai dengan perhitungan di fiscal year 2024 and 2023, as stated in the
atas telah dilaporkan oleh Perusahaan dalam above, have been reported by the Company in
Surat Pemberitahuan Tahunan (“SPT”) PPh its annual tax return (“SPT”) to be submitted to
Badan ke Kantor Pajak. the Tax Office.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the
aset pajak tangguhan yang tidak diakui adalah unrecognized deferred tax assets is amounted
masing-masing sebesar Rp170.564.859.827 to Rp170,564,859,827 and
dan Rp117.796.799.393 dari rugi fiskal yang Rp117,796,799,393, respectively, resulted
dapat dikompensasi dan biaya yang belum from the tax losses carried forward and
terpulihkan. Rugi fiskal tersebut terkait kepada unrecovered costs. These tax losses relate to
entitas yang masih mengalami kerugian, entities which have incurred losses, have not
belum kadaluwarsa dan tidak dapat digunakan yet expired and may not be used to offset
untuk disalinghapuskan dengan penghasilan taxable profits elsewhere in the Group.
kena pajak entitas lain dalam Grup.
94
Page 261
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
f. Estimasi pengembalian pajak f. Estimated claims for tax refund
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the
rincian estimasi pengembalian pajak atas lebih details of the claims for tax refund related to
bayar pajak penghasilan badan dan pajak the overpayment corporate income tax and
pertambahan nilai (PPN) adalah sebagai value-added tax (VAT) are as follows:
berikut:
2024 2023
Perusahaan The Company
Pajak penghasilan badan Corporate income tax
2024 2.905.991.916 - 2024
2023 12.426.787.478 12.132.904.148 2023
2022 - 4.782.774.336 2022
Entitas anak Subsidiaries
Pajak penghasilan badan Corporate income tax
2024 10.865.179.362 - 2024
2023 34.412.248.141 4.313.014.928 2023
2022 - 6.066.861.381 2022
2021 - 7.352.876.820 2021
2019 6.952.237.834 34.119.171.131 2019
2018 - 2.173.051.770 2018
2016 3.922.353.364 3.922.353.364 2016
Sub-total 71.484.798.095 74.863.007.878 Sub-total
PPN VAT
2024 19.077.819.491 - 2024
2023 70.729.544 20.136.986.473 2023
2022 - 8.002.712.145 2022
2019 867.481.318 867.481.318 2019
2018 2.103.097.524 2.103.097.524 2018
2016 1.490.734.662 1.490.734.662 2016
Sub-total 23.609.862.539 32.601.012.122 Sub-total
Total estimasi pengembalian
pajak 95.094.660.634 107.464.020.000 Total claims for tax refund
Dikurangi bagian tidak lancar 66.383.302.418 53.552.218.066 Less non-current portion
Bagian lancar 28.711.358.216 53.911.801.934 Current portion
95
Page 262
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
g. Surat Ketetapan Pajak g. Tax Assessment Letters
Klaim pajak Grup yang masih belum The Group’s unresolved tax claims due to the
terselesaikan akibat terbitnya Surat Ketetapan issuance of tax assessment letters up to
sampai tanggal 31 Desember 2024 dan 2023 December 31, 2024 and 2023 are as follows:
adalah sebagai berikut:
PT Bio Jatropha Indonesia
Nomor dan
Jumlah Tanggal Status pada Status pada
Penilaian Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut Grup/ Amount Terakhir/
Masa/ Type of Jenis/ Type Otoritas Pajak/ Desember Desember
of According to Number and 2024/ Status 2023/ Status
tax and period Amount the Group Date of as of as of
Assessed by Latest Tax December December
Tax Authority Letters 31, 2024 31, 2023
PPh 23 SKP Kurang Bayar/ Rp5.614.008.876 Nihil/Nil Berbagai Peninjauan Banding/
Berbagai masa di Underpayment of Nomor/Various Kembali Appeal
tahun pajak 2019/ Tax Assessment diajukan oleh
WHT Art 23 Various Letter 16 Mei 2024/ DJP/Judicial
tax periods 2019 May 16, 2024 Review filed by
DGT
PPh 23 SKP Kurang Bayar/ Rp2.663.607.207 Rp2.537.952 Berbagai Peninjauan Banding/
Berbagai masa di Underpayment of Nomor/Various Kembali Appeal
tahun pajak 2020/ Tax Assessment diajukan oleh
WHT Art 23 Various Letter 16 Mei 2024/ DJP/Judicial
tax periods 2020 May 16, 2024 Review filed by
DGT
PT Dalle Energy Batam
Nomor dan
Jumlah Tanggal Status pada Status pada
Penilaian Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut Grup/ Amount Terakhir/ Desember Desember
Masa/ Type of Jenis/ Type Otoritas Pajak/ of According to Number and 2024/ Status 2023/ Status
tax and period Amount the Group Date of as of as of
Assessed by Latest Tax December December
Tax Authority Letters 31, 2024 31, 2023
PPh Badan SKP Lebih Bayar/ Rp1.008.760.284 Rp7.960.998.326 Berbagai Banding/ Banding/
Desember 2019/ Overpayment of Tax Nomor/Various Appeal Appeal
Corporate Income Assessment Letter
Tax December 2019 21 Juli 2022/
July 21, 2022
PT Medco Power Indonesia
Nomor dan
Jumlah Tanggal Status pada Status pada
Penilaian Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut Grup/ Amount Terakhir/ Desember Desember
Masa/ Type of Jenis/ Type Otoritas Pajak/ of According to Number and 2024/ Status 2023/ Status
tax and period Amount the Group Date of as of as of
Assessed by Latest Tax December December
Tax Authority Letters 31, 2024 31, 2023
PPh 26 SKP Kurang Bayar/ Rp161.431.931 Nihil/Nil 00003/245/22/0 Keberatan/ Pemeriksaan
Januari 2022/WHT Underpayment of 81/24 Objection pajak oleh
Art 26 January 2022 Tax Assessment DJP/Tax audit
Letter 14 Oktober by DGT
2024/October
14, 2024
96
Page 263
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
g. Surat Ketetapan Pajak (lanjutan) g. Tax Assessment Letters (continued)
Klaim pajak Grup yang masih belum The Group’s unresolved tax claims due to the
terselesaikan akibat terbitnya Surat Ketetapan issuance of tax assessment letters up to
sampai tanggal 31 Desember 2024 dan 2023 December 31, 2024 and 2023 are as follows:
adalah sebagai berikut: (lanjutan) (continued)
PT Mitra Energi Batam
Nomor dan
Jumlah Tanggal Status pada Status pada
Penilaian Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut Grup/ Amount Terakhir/
Masa/ Type of Jenis/ Type Otoritas Pajak/ Desember Desember
of According to Number and 2024/ Status 2023/ Status
tax and period Amount the Group Date of as of as of
Assessed by Latest Tax December December
Tax Authority Letters 31, 2024 31, 2023
PPh 21 SKP Kurang Rp175.434.607 Nihil/Nil PUT-011762.1 Banding Banding/
Desember 2019/ Bayar/ 0/2022/PP/ dikabulkan Appeal
WHT Art 21 Underpayment of M.IIIB Tahun seluruhnya/
December 2019 Tax Assessment 2024 Appeal is fully
Letter granted **)
29 Oktober
2024/October
29, 2024
PPh Badan SKP Lebih Bayar/ Rp3.229.558.100/ Rp12.519.271.350 PUT-011763.1 Banding Banding/
Desember 2019/ Overpayment of 5/2022/PP/ dikabulkan Appeal
Corporate Income Tax Assessment M.IIIB Tahun sebagian/
Tax December 2019 Letter 2024 Appeal is
partially
29 Oktober granted **)
2024/October
29, 2024
PPh Badan SKP Lebih Bayar/ Kompensasi rugi Kompensasi rugi PUT-004252.1 Banding Banding/
Desember 2020/ Overpayment of fiskal nihil/Zero tax fiskal 5/2023/PP/ dikabulkan Appeal
Corporate Income Tax Assessment loss carried forward Rp12.759.250.307/ M.IIIB Tahun seluruhnya/
Tax December 2020 Letter Zero tax loss 2024/ Appeal is fully
carried forward granted **)
Rp12.759.250.307 29 Oktober
2024/October
29, 2024
PT TJB Power Services
Nomor dan
Jumlah Tanggal Status pada Status pada
Penilaian Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut Grup/ Amount Terakhir/ Desember Desember
Masa/ Type of Jenis/ Type Otoritas Pajak/ of According to Number and 2024/ Status 2023/ Status
tax and period Amount the Group Date of as of as of
Assessed by Latest Tax December December
Tax Authority Letters 31, 2024 31, 2023
PPN SKP Kurang Bayar Rp1.490.734.662 Nihil/Nil Berbagai Banding/ Banding/
Berbagai masa di Tambahan/ Nomor/Various Appeal *) Appeal
tahun pajak 2016/ Additional
VAT Various tax Underpayment of
periods 2016 Tax Assessment 02 Februari
Letter 2021/February
2, 2021
97
Page 264
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
g. Surat Ketetapan Pajak (lanjutan) g. Tax Assessment Letters (continued)
Klaim pajak Grup yang masih belum The Group’s unresolved tax claims due to the
terselesaikan akibat terbitnya Surat Ketetapan issuance of tax assessment letters up to
sampai tanggal 31 Desember 2024 dan 2023 December 31, 2024 and 2023 are as follows:
adalah sebagai berikut: (lanjutan) (continued)
PT TJB Power Services
Nomor dan
Jumlah Tanggal Status pada Status pada
Penilaian Jumlah menurut Surat Pajak tanggal 31 tanggal 31
Jenis Pajak dan Menurut Grup/ Amount Terakhir/ Desember Desember
Masa/ Type of Jenis/ Type Otoritas Pajak/ of According to Number and 2024/ Status 2023/ Status
tax and period Amount the Group Date of as of as of
Assessed by Latest Tax December December
Tax Authority Letters 31, 2024 31, 2023
PPh 26 SKP Kurang Rp1.278.674.504 Nihil/Nil Berbagai Banding/ Banding/
September 2016/ Bayar/ Nomor/Various Appeal *) Appeal
WHT Art 26 Underpayment of
September 2016 Tax Assessment 02 Februari
Letter 2021/February
2, 2021
PPh Badan SKP Kurang Rp3.624.483.370 Rp980.804.510 Berbagai Banding/ Banding/
Desember 2016/ Bayar/ Nomor/Various Appeal *) Appeal
Corporate Income Underpayment of
Tax December 2016 Tax Assessment
Letter 02 Februari
2021/February
2, 2021
PPN Surat Tagihan Rp792.422.654 Nihil/Nil Berbagai Gugatan/ Gugatan/
Maret 2018/VAT Pajak/Tax Nomor/Various Lawsuit *) Lawsuit
March 2018 Collection Letter
10 Desember
2020/
December 10,
2020
PPh 26 SKP Kurang Rp2.173.051.770 Nihil/Nil Berbagai Keberatan Keberatan/
Berbagai masa di Bayar/ Nomor/Various dikabulkan Objection
tahun pajak 2018/ Underpayment of seluruhnya/
WHT Art 26 Various Tax Assessment 26 Juli 2024/ Objection is
tax periods 2018 Letter July 26, 2024 fully granted
PPN Surat Tagihan Rp807.838.189 Rp132.800 Berbagai Gugatan/ Gugatan/
Berbagai masa di Pajak/Tax Nomor/Various Lawsuit Lawsuit
tahun pajak 2019/ Collection Letter
VAT Various tax 04 Maret 2021/
periods 2019 March 4, 2021
PPN SKP Lebih Bayar/ Rp755.668.191 Rp1.336.639.627 Berbagai Banding/ Banding/
Juni 2019/VAT Overpayment of Nomor/Various Appeal *) Appeal
June 2019 Tax Assessment
Letter 13 Juli 2021/
July 13, 2021
PPN SKP Lebih Bayar/ Rp746.870.324 Rp1.536.216.887 Berbagai Banding/ Banding/
Agustus 2020/VAT Overpayment of Nomor/Various Appeal Appeal
August 2020 Tax Assessment
Letter 08 Juli 2022/
July 8, 2022
PPN April, Mei, Juni SKP Lebih Bayar/ Rp3.484.826.434 Rp3.509.760.902 Berbagai Keberatan/ Pemeriksaan
2023/VAT April, Overpayment of nomor/ Objection pajak oleh
May, June 2023 Tax Assessment Various DJP/
Letter Tax audit by
25 Maret 2024/ DGT
March 25, 2024
PPN Juli, Agustus, SKP Lebih Bayar/ Rp4.039.284.109 Rp4.055.032.621 Berbagai Keberatan/ Pemeriksaan
September 2023/ Overpayment of nomor/ Objection pajak oleh
VAT July, August, Tax Assessment Various DJP/
September 2023 Letter Tax audit by
Mei-Juni 2024/ DGT
May-June ,
2024
*) Banding dikabulkan seluruhnya pada Februari 2025 *) Appeal is fully granted in February 2025
**) Peninjauan Kembali diajukan oleh DJP pada Februari 2025 **) Judicial Review filed by DGT in February 2025
98
Page 265
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
23. PERPAJAKAN (lanjutan) 23. TAXES (continued)
h. Pajak Penghasilan Pilar Dua h. Pillar Two income taxes
Berbagai negara telah memberlakukan atau Various countries have enacted or intend to
bermaksud memberlakukan undang-undang enact tax legislation to comply with Pillar Two
perpajakan untuk mematuhi aturan model Pilar model rules, including Indonesia (Note 2q).
Dua, termasuk Indonesia (Catatan 2q). Grup The ultimate parent entity of the Group may be
berada dalam lingkup PMK 136/2024, yang within the scope of PMK 136/2024, and is still
tidak berdampak pada laporan keuangan in the process of assessing potential impact, if
konsolidasian 2024 tetapi mungkin akan any. Based on currently available information,
mempengaruhi laporan keuangan the Group does not expect any material impact
konsolidasian Grup mulai 1 Januari 2025 dan to the Group's consolidated financial
seterusnya. statements.
PMK 136/2024 menerapkan mekanisme PMK 136/2024 applies new taxing
perpajakan baru yang mensyaratkan mechanisms under which a Multinational
Perusahaan Multinasional ("PMN") untuk Enterprises (“MNE”) would pay a top-up tax in
membayar pajak tambahan di suatu yurisdiksi a jurisdiction whenever the efective tax rate,
ketika tarif pajak efektif, yang ditentukan determined on a jurisdictional basis under the
berdasarkan yurisdiksi menurut aturan Pilar Pillar Two rules is below a 15% minimum rate.
Dua, lebih rendah dari tarif minimum 15%. PMK 136/2024 sets out the mechanics for
PMK 136/2024 menetapkan mekanisme untuk determining which entity (or entities) in an
menentukan entitas mana (atau entitas-entitas MNE Group should apply the top-up tax and
mana) dalam Grup PMN yang harus the portion of such tax that is charged to each
menerapkan pajak tambahan tersebut dan relevant entity.
porsi pajak yang dibebankan kepada setiap
entitas terkait.
Untuk tahun yang berakhir pada tanggal 31 For the year ended December 31, 2024, the
Desember 2024, Grup telah menerapkan Group has applied amendment to PSAK 212:
amandemen PSAK 212: Pajak Penghasilan, Income Taxes, which provides a mandatory
yang memberikan pengecualian wajib temporary exception from recognizing or
sementara dari pengakuan atau disclosing deferred taxes related to Pillar Two
pengungkapan pajak tangguhan terkait aturan rules such that there is no impact to the 2024
Pilar Dua sehingga tidak ada dampak consolidated financial statements. The future
terhadap Laporan Keuangan konsolidasian impact of Pillar Two rules is still in the process
2024. Dampak masa depan dari aturan Pilar of being assessed by the ultimate parent
Dua untuk Grup masih dalam tahap estimasi. entity, if any.
24. BEBAN AKRUAL 24. ACCRUED EXPENSES
Akun ini terdiri dari: This account consists of:
2024 2023
Kontrak jasa 325.808.281.846 160.092.588.970 Contract services
Bunga 120.888.201.094 86.165.062.235 Interest
Jasa profesional 22.051.779.311 11.522.576.278 Professional fees
Gas 9.558.836.957 - Gas
Jasa manajemen dan dukungan Management and technical support
teknis 9.288.121.715 5.175.046.325 service
Gaji dan imbalan kerja 9.112.862.896 13.633.082.962 Salaries and employee benefits
Sewa 3.053.374.557 2.117.217.221 Rental
Lain-lain 4.693.898.941 1.777.990.086 Others
Total 504.455.357.317 280.483.564.077 Total
Dikurangi porsi jangka pendek 418.497.181.717 195.191.450.394 Less current portion
Porsi jangka panjang 85.958.175.600 85.292.113.683 Long-term portion
99
Page 266
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
24. BEBAN AKRUAL (lanjutan) 24. ACCRUED EXPENSES (continued)
Akrual kontrak jasa terutama terkait dengan Accrued contract services mainly related to drilling
kegiatan pengeboran, kegiatan konstruksi, jasa activities, construction works, technical consulting
konsultan teknis, tenaga kerja dan kegiatan services, supply works and lender’s activities
peminjaman terkait dengan proyek ELB CCPP dan related to ELB CCPP and Ijen Geothermal Power
Pembangkit Listrik Tenaga Panas Bumi Ijen. Plant project.
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA INSTITUTION
Grup mendapatkan pinjaman jangka panjang dari The Group obtained loan from Banks and Other
Bank dan Lembaga Keuangan Lainnya serta Financial Institutions and through the issuance of
penerbitan instrumen pinjaman Perusahaan. the Company’s loan instrument.
Pinjaman yang diperoleh Perusahaan dan Entitas The Company’s and its Subsidiaries debt from
Anaknya dari Bank dan Lembaga Keuangan Bank and Other Financial Institution consists of the
Lainnya terdiri dari: following:
2024 2023
Pinjaman jangka pendek Short-term loan
Pihak ketiga Third parties
Dolar Amerika Serikat United States Dollar
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 236.705.987.209 364.608.447.710 (Persero) Tbk
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 120.246.955.194 90.501.107.936 (Persero) Tbk
PT Bank Mandiri (Persero) PT Bank Mandiri (Persero)
Tbk 35.643.291.761 155.173.990.175 Tbk
Rupiah Rupiah
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 339.180.336.316 219.626.905.253 (Persero) Tbk
PT Bank Mandiri (Persero) PT Bank Mandiri (Persero)
Tbk 104.518.763.800 93.091.337.960 Tbk
PT Bank Maybank Indonesia PT Bank Maybank Indonesia
Tbk 40.000.000.000 - Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 7.634.445.950 41.975.264.174 (Persero) Tbk
Total 883.929.780.230 964.977.053.208 Total
100
Page 267
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Pinjaman yang diperoleh Perusahaan dan Entitas The Company’s and its Subsidiaries debt from
Anaknya dari Bank dan Lembaga Keuangan Bank and Other Financial Institution consists of the
Lainnya terdiri dari: (lanjutan) following: (continued)
2024 2023
Pinjaman jangka panjang Long-term loan
Pihak berelasi Related parties
Dolar Amerika Serikat United States Dollar
PT Bank Woori Saudara PT Bank Woori Saudara
Indonesia 1906 Tbk Indonesia 1906 Tbk (Note
(Catatan 8f) 52.526.500.000 169.576.000.000 8f)
Pihak ketiga Third parties
Dolar Amerika Serikat United States Dollar
Konsorsium pemberi
pinjaman Riau 3.177.230.398.844 3.178.517.756.202 Riau lenders consortium
PT Sarana Multi Infrastruktur PT Sarana Multi Infrastruktur
(Persero) 1.131.181.289.160 121.144.847.744 (Persero)
PT Bank Syariah Indonesia PT Bank Syariah Indonesia
Tbk 674.232.982.350 401.218.635.088 Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 85.136.050.216 - (Persero) Tbk
Rupiah Rupiah
PT Bank Maybank Indonesia PT Bank Maybank Indonesia
Tbk 695.805.775.000 - Tbk
PT Bank Syariah Indonesia PT Bank Syariah Indonesia
Tbk 180.081.000.000 450.500.000.000 Tbk
PT Bank KEB Hana
PT Bank KEB Hana Indonesia 150.000.000.000 - Indonesia
PT Bank Tabungan Negara PT Bank Tabungan Negara
(Persero) Tbk 144.000.000.000 150.000.000.000 (Persero) Tbk
PT Bank Negara Indonesia PT Bank Negara Indonesia
(Persero) Tbk 14.057.074.801 399.000.000.000 (Persero) Tbk
PT Mandiri Tunas Finance 240.350.000 741.950.000 PT Mandiri Tunas Finance
PT Sarana Multi Infrastruktur PT Sarana Multi Infrastruktur
(Persero) - 258.125.000.000 (Persero)
PT Bank Mandiri (Persero) PT Bank Mandiri (Persero)
Tbk - 190.000.000.000 Tbk
Biaya transaksi pinjaman yang Unamortized loan transaction
belum diamortisasi (361.215.413.710) (330.500.100.303) costs
Total 5.943.276.006.661 4.988.324.088.731 Total
Dikurangi bagian yang jatuh tempo
dalam satu tahun 340.930.502.489 1.199.366.875.323 Less current maturities
Bagian jangka panjang - neto 5.602.345.504.172 3.788.957.213.408 Long-term maturities - net
Tingkat suku bunga per tahun untuk pinjaman dari bank Annual interest rates on loans from bank and other
dan lembaga keuangan lainnya berkisar: financial institutions ranging:
2024 2023
Rupiah 4,55% - 8,50% 8,00% - 11,10% Rupiah
Dolar Amerika Serikat 3,92% - 6,30% 3,92% - 9,38% United States Dollar
101
Page 268
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Pinjaman yang diperoleh Perusahaan dan Entitas The Company’s and its Subsidiaries debt from
Anaknya dari Bank dan Lembaga Keuangan terdiri Banks and Financial Institution consists of the
dari: (lanjutan) following: (continued)
Berdasarkan perjanjian atas pinjaman-pinjaman di Under its loan agreements, the Group is subject to
atas, Grup harus mematuhi batasan-batasan various covenants, among others, to obtain written
tertentu, antara lain untuk memperoleh persetujuan approval from the lenders before entering into
tertulis dari pemberi pinjaman sebelum melakukan certain transactions such as mergers, acquisitions,
transaksi-transaksi tertentu seperti mengadakan liquidation or change in status and Articles of
penggabungan usaha, pengambilalihan, likuidasi Association, reducing the authorized, issued and
atau perubahan status serta Anggaran Dasar, fully paid capital; restrictions on lending money to
mengurangi modal dasar, ditempatkan dan disetor third parties; negative pledges, with certain
penuh; pembatasan dalam pemberian pinjaman exceptions; restrictions on change in core business
kepada pihak ketiga; penjaminan negatif (negative activities and declaring and paying dividends in
pledge), dengan beberapa pengecualian khusus; excess of a certain percentage of consolidated net
pembatasan dalam mengubah aktivitas utama dan income; and requirement to comply with certain
mengumumkan dan membayar dividen melebihi financial ratios.
persentase tertentu dari laba neto konsolidasian;
dan harus mematuhi rasio-rasio keuangan tertentu.
Pinjaman jangka pendek Short-term loan
PT Medco Cahaya Geothermal ("MCG") PT Medco Cahaya Geothermal ("MCG")
Sepanjang Tahun 2023, MCG melakukan During 2023, MCG issued Surat Kredit
penerbitan Surat Kredit Berdokumen Dalam Negeri Berdokumen Dalam Negeri Usance Payable at
Usance Payable at Sight ("SKBDN UPAS") dan Sight ("SKBDN UPAS") and Letter of Credit Usance
Letter of Credit Usance Payable at Sight ("LC Payable at Sight ("LC UPAS") to various vendors,
UPAS") kepada berbagai pemasok sejumlah totaling to Rp45,600,030,000 and US$42,527,453
Rp45.600.030.000 dan AS$42.527.453 untuk for Ijen Geothermal project. This issuance utilized
keperluan proyek PLTP Ijen. Penerbitan ini the Company's Working Capital Credit ("WCC")
menggunakan fasilitas Kredit Modal Kerja ("KMK") from PT Bank Negara Indonesia (Persero) Tbk
Perusahaan dari PT Bank Negara Indonesia (“BNI”).
(Persero) Tbk (“BNI”).
Sepanjang Tahun 2023, MCG melakukan During 2023, MCG issued SKBDN UPAS and LC
penerbitan SKBDN UPAS dan LC UPAS kepada UPAS to various vendors, totaling to
berbagai macam vendor sejumlah Rp158,240,793,366 and US$13,039,227 for Ijen
Rp158.240.793.366 dan AS$13.039.227 untuk Geothermal project. This issuance utilized the
keperluan proyek PLTP Ijen. Penerbitan ini Company's Non-Cash Loan Facility from PT Bank
menggunakan fasilitas Kredit Non-Tunai Mandiri (Persero) Tbk (“BMRI”).
Perusahaan dari PT Bank Mandiri (Persero) Tbk
(“BMRI”).
Sepanjang Tahun 2023, MCG melakukan During 2023, MCG issued SKBDN UPAS and LC
penerbitan SKBDN UPAS dan LC UPAS kepada UPAS to various vendors, totaling to
berbagai macam vendor sejumlah Rp229,524,521,773 and US$7,794,095 for Ijen
Rp229.524.521.773 dan AS$7.794.095 untuk Geothermal project. This issuance utilized the
keperluan proyek PLTP Ijen. Penerbitan ini Company's Non-Cash Loan Facility from PT Bank
menggunakan fasilitas Kredit Non-Tunai Tabungan Negara Persero Tbk (“BTN”).
Perusahaan dari PT Bank Tabungan Negara
Persero Tbk (“BTN”).
Sepanjang tahun 2024, MCG melakukan During 2024, MCG issued SKBDN UPAS and LC
penerbitan SKBDN UPAS dan LC UPAS kepada UPAS to various vendors Rp470,076,245,801 and
berbagai macam vendor sejumlah US$10,702,340 for Ijen Geothermal project. This
Rp470.076.245.801 dan AS$10.702.340 untuk issuance utilized MPI's WCC facility from BNI,
keperluan proyek PLTP Ijen. Penerbitan ini MPI's Non-Cash Loan Facility from BMRI, and
menggunakan fasilitas KMK MPI di BNI, Kredit MPI's Non-Cash Loan Facility from BTN.
Non-Tunai MPI dari BMRI, dan Kredit Non-Tunai
Perusahaan dari BTN.
Saldo nilai akseptasi realisasi dokumen per 31 The balance of acceptance value as of December
Desember 2023 atas SKBDN UPAS dan LC UPAS 31, 2023 for realization of the issued SKBDN
yang telah diterbitkan MCG disajikan sebagai UPAS and LC UPAS documents by MCG is
pinjaman jangka pendek. presented as a short-term loan.
102
Page 269
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Pinjaman jangka panjang Long-term loan
PT Medco Power Indonesia (“Perusahaan”) PT Medco Power Indonesia (“the Company”)
PT Bank Woori Saudara Indonesia 1906 Tbk - PT Bank Woori Saudara Indonesia 1906 Tbk -
Fasilitas Kredit Pendanaan Umum General Funding Credit Facility
Pada tanggal 27 Mei 2019, Perusahaan On May 27, 2019, the Company signed a credit
menandatangani perjanjian kredit dengan PT Bank facility agreement with PT Bank Woori Saudara
Woori Saudara Indonesia 1906 Tbk (“BWS”) Indonesia 1906 Tbk (“BWS”) amounting to
sebesar AS$20.000.000 dengan jangka waktu 2 US$20,000,000 with 2 years tenor. The loan facility
tahun. Fasilitas ini tidak dijamin dengan agunan is unsecured. On May 29, 2019, the Company has
khusus. Pada tanggal 29 Mei 2019, Perusahaan fully withdrawn this credit facility. The facility will be
melakukan penarikan atas seluruh fasilitas. paid quarterly and will mature on May 29, 2021.
Fasilitas ini akan dicicil setiap tiga bulan dan akan The facilities have been extended several times to
jatuh tempo pada tanggal 29 Mei 2021. Jatuh May 28, 2024.
tempo fasilitas ini telah diperpanjang beberapa kali
hingga 28 Mei 2024.
Pada 16 Agustus 2022, Perusahaan melakukan On August 16, 2022, the Company made early
pelunasan dipercepat sebesar AS$6.000.000. repayment amounting to US$6,000,000.
Pada tanggal 26 Mei 2023, Perusahaan telah On May 26, 2023, the Company has extended
memperpanjang fasilitas kredit dengan BWS credit facility from BWS amounting to
sebesar AS$12.000.000 sampai dengan US$12,000,000 until August 25, 2023.
25 Agustus 2023.
Pada tanggal 25 Agustus 2023, Perusahaan On August 25, 2023, the Company has extend the
melakukan perpanjangan fasilitas kredit di PT Bank credit facility with PT Bank Woori Saudara
Woori Saudara Indonesia 1906 Tbk sebesar Indonesia 1906 Tbk amounting US$11,500,000
AS$11.500.000 dengan jangka waktu 9 bulan. with 9 months tenor.
Pada tanggal 25 Januari 2024, MPI melakukan On January 25, 2024, MPI has made voluntary
pelunasan dipercepat sebesar AS$11.000.000 repayment amounting to US$11,000,000 to
kepada PT Bank Woori Saudara Indonesia 1906 PT Bank Woori Saudara Indonesia 1906 Tbk.
Tbk.
Pada tanggal 30 Mei 2024, MPI melakukan On May 30, 2024, MPI signed a credit facility
penandatanganan perjanjian kredit dengan BWS agreement with BWS US$8,000,000 with 2 years
sebesar AS$8.000.000 dengan jangka waktu 2 tenor. The loan facility is unsecured.
tahun. Fasilitas ini tidak dijamin dengan agunan
khusus.
Pada tanggal 17 Oktober 2024, MPI melakukan On October 17, 2024, MPI has withdrawn
penarikan sebesar AS$1.500.000 dari PT Bank US$1,500,000 from PT Bank Woori Saudara
Woori Saudara Indonesia 1906 Tbk. Indonesia 1906 Tbk.
Pada tanggal 1 November dan 2 Desember 2024, On November 1 and December 2, 2024, MPI has
MPI melakukan penarikan masing-masing sebesar withdrawn US$1,000,000 and US$750,000
AS$1.000.000 dan AS$750.000 dari PT Bank respectively from PT Bank Woori Saudara
Woori Saudara Indonesia 1906 Tbk. Indonesia 1906 Tbk.
PT Bank Syariah Indonesia Tbk - Fasilitas PT Bank Syariah Indonesia Tbk - Musyarakah
Musyarakah Facility
Pada tanggal 25 September 2020, Perusahaan On September 25, 2020, the Company signed
menandatangani perjanjian fasilitas kredit dengan credit facility agreement with PT Bank BNI Syariah
PT Bank BNI Syariah (“BNI Syariah”) dengan total (“BNI Syariah”) with a total facility of
fasilitas sebesar Rp400.000.000.000. Fasilitas ini Rp400,000,000,000. The loan facility is unsecured.
tidak dijamin dengan agunan khusus.
Perusahaan telah melakukan pembayaran cicilan The Company has paid scheduled installment to
terjadwal ke BSI sebesar Rp155.500.000.000 pada BSI amounting to Rp155,500,000,000 during 2024
tahun 2024 (2023: Rp26.000.000.000). (2023: Rp26,000,000,000).
103
Page 270
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Pinjaman jangka panjang (lanjutan) Long-term loan (continued)
PT Medco Power Indonesia (“Perusahaan”) PT Medco Power Indonesia (“the Company”)
(lanjutan) (continued)
PT Bank Syariah Indonesia Tbk - Fasilitas PT Bank Syariah Indonesia Tbk - Musyarakah
Musyarakah dan Fasilitas Kafalah bil Ujrah and Kafalah bil Ujrah Facility
Pada tanggal 28 Mei 2021, Perusahaan On May 28, 2021, the Company signed Akad
menandatangani Akad Musyarakah sebesar Musyarakah amounting to US$30,000,000 and
AS$30.000.000 dan Kafalah bil Ujrah sebesar Kafalah bil Ujrah amounting to US$10,000,000 with
AS$10.000.000 dengan BSI, dengan jangka waktu BSI, with 3 years tenor. This loan facility is
3 tahun. Fasilitas ini tidak dijamin dengan agunan unsecured.
khusus.
Perusahaan melakukan pelunasan dipercepat The Company has made early repayment to BSI on
kepada BSI sebesar AS$7.200.000 pada February 7, 2024, amounting to US$7,200,000
7 Februari 2024 (2023: AS$2.600.000) during 2024 (2023: US$2,600,000).
PT Bank Syariah Indonesia Tbk - Fasilitas PT Bank Syariah Indonesia Tbk - Musyarakah
Musyarakah Facility
Pada tanggal 27 April 2022, Perusahaan On April 27, 2022, the Company has entered into a
menandatangani perjanjian Line Facility Line Facility Musyarakah Credit Facility with BSI
Pembiayaan Musyarakah dengan BSI sebesar amounting to Rp750,000,000,000 with 4 years
Rp750.000.000.000 dengan jangka waktu 4 tahun tenor from the signing date. This loan facility is
dari tanggal penandatanganan. Fasilitas ini tidak unsecured.
dijamin dengan agunan khusus.
Pada tanggal 15 Agustus 2022, BSI melakukan On August 15, 2022, BSI transferred a loan of
pengalihan pinjaman senilai Rp336.875.000.000 Rp336,875,000,000 to PT Sarana Multi
kepada PT Sarana Multi Infrastruktur (Persero) Infrastruktur (Persero) (“SMI”) and the loan become
(“SMI”) dan pinjaman tersebut menjadi pinjaman syndicated loan.
sindikasi.
Perusahaan telah melakukan pembayaran cicilan The Company has paid scheduled installment and
terjadwal dan dipercepat ke BSI sebesar early repayment to BSI amounting to
Rp295.000.000.000 selama tahun 2024 (2023: Rp295,000,000,000 during 2024 (2023:
Rp58.125.000.000). Rp58,125,000,000).
PT Sarana Multi Infrastruktur (Persero) - PT Sarana Multi Infrastruktur (Persero) -
Pinjaman Sindikasi Syndicated Loan
Sehubungan dengan pengalihan pinjaman dari BSI In relation with the transferred loan from BSI
sebesar Rp336.875.000.000 ke SMI sebagaimana amounting to Rp336,875,000,000 to SMI as
diuraikan di paragraf di atas, Peusahaan telah declared in the preceding paragraph, the Company
melakukan pembayaran cicilan terjadwal dan has paid scheduled installment and early
pelunasan dipercepat kepada SMI sebesar repayment to SMI amounting to
Rp258.125.000.000 selama tahun 2024 (2023: Rp258,125,000,000 during 2024 (2023:
Rp26.250.000.000). Rp26,250,000,000).
PT Bank Negara Indonesia (Persero) Tbk - PT Bank Negara Indonesia (Persero) Tbk - Term
Fasilitas Term Loan Loan Facility
Pada tanggal 28 Juni 2021, Perusahaan On June 28, 2021, the Company signed Term Loan
menandatangani Perjanjian Kredit Term Loan Credit Facility agreement amounting to
sebesar Rp399.000.000.000 dengan PT Bank Rp399,000,000,000 with PT Bank Negara
Negara Indonesia (Persero) Tbk. (“BNI”). Fasilitas Indonesia (Persero) Tbk. (“BNI”). This loan facility
ini tidak dijamin dengan agunan khusus dan akan is unsecured and will be due in 2024.
jatuh tempo pada tahun 2024.
Berdasarkan perjanjian pinjaman, Perusahaan Based on the loan agreement, the Company is
diharuskan untuk memelihara beberapa rekening required to maintain several restricted bank
bank yang dibatasi penggunaannya di BNI dengan accounts at BNI with a minimum balance as
saldo minimum sebagaimana ditentukan dalam specified in the loan agreement.
perjanjian pinjaman.
Fasilitas pinjaman ini sudah ditarik seluruhnya di This loan facility has been fully withdrawn of which
mana sebesar Rp200.000.000.000 pada tahun amounted to Rp200,000,000,000 in 2022 and
2022 dan Rp199.000.000.000 pada tahun 2021. Rp199,000,000,000 in 2021.
104
Page 271
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Pinjaman jangka panjang (lanjutan) Long-term loan (continued)
PT Medco Power Indonesia (“Perusahaan”) PT Medco Power Indonesia (“the Company”)
(lanjutan) (continued)
PT Bank Negara Indonesia (Persero) Tbk - PT Bank Negara Indonesia (Persero) Tbk - Term
Fasilitas Term Loan (lanjutan) Loan Facility (continued)
Pada tanggal 22 Juli 2022, Perusahaan melakukan On July 22, 2022, the Company withdraw a loan of
penarikan pinjaman sebesar AS$4.000.000 atas US$4,000,000 of Working Capital Facility from BNI
fasilitas Kredit Modal Kerja dari BNI dan melakukan and made an accelerated payment of Working
pelunasan dipercepat pada tahun yang sama. Capital Facility to BNI at the same year.
Pada tahun 2021, Perusahaan juga memperoleh In 2021, the Company also obtained Working
fasilitas dan Kredit Modal Kerja sebesar Capital Loan amounting to US$60,000,000 from
AS$60.000.000 dari BNI. Fasilitas pinjaman ini BNI. This loan facility has been extended until
telah diperpanjang hingga 19 Desember 2025 December 19, 2025 with increase in limit facility to
dengan kenaikan pada limit fasilitas menjadi US$82,500,000. This loan facility also can be
AS$82.500.000. Fasilitas pinjaman ini dapat utilized by the Company's subsidiaries.
digunakan oleh entitas anak Perusahaan.
Pada tanggal 4 Maret 2024, MPI melakukan On March 4, 2024, MPI has made voluntary
pelunasan dipercepat sebesar Rp399.000.000.000 repayment amounting to Rp399,000,000,000 to
kepada PT Bank Negara Indonesia (Persero) Tbk. PT Bank Negara Indonesia (Persero) Tbk.
PT Maybank Indonesia Finance - Fasilitas Kredit PT Maybank Indonesia Finance - Consumer
Konsumen Credit Facility
Pada Juni 2014, Perusahaan menandatangani In June 2014, the Company entered into a
perjanjian Fasilitas Kredit Pembiayaan Konsumtif Consumer Financing Credit Facility agreement with
dengan PT Maybank Indonesia Finance dengan PT Maybank Indonesia Finance with a facility
jangka waktu perjanjian fasilitas hingga Mei 2019. agreement term of up to May 2019. The Consumer
Fasilitas Kredit Konsumen dengan PT Maybank Credit Facility with PT Maybank Indonesia Finance
Indonesia Finance digunakan untuk membiayai is used to finance the purchase of vehicles based
pembelian kendaraan berdasarkan Program on the Corporate Car Ownership Program (“COP”),
Kepemilikan Mobil Perusahaan (“COP”) yang terdiri which consists of several withdrawals with various
dari beberapa penarikan dengan jatuh tempo yang maturity dates and the final maturity date is
bervariasi dan jatuh tempo terakhir pada 23 September 23, 2023. This facility is secured by the
September 2023. Fasilitas ini dijamin dengan vehicle acquired. The loan was fully settled on July
kendaraan yang diperoleh. Pinjaman telah lunas 31, 2023.
pada tanggal 31 Juli 2023.
PT Bank Tabungan Negara (Persero) Tbk - PT Bank Tabungan Negara (Persero) Tbk -
Fasilitas Corporate Line Corporate Line Facility
Pada tanggal 22 November 2022, Perusahaan On November 22, 2022, the Company has signed
telah menandatangani perjanjian Corporate Line Corporate Line Facility agreement with PT Bank
Facility dengan PT Bank Tabungan Negara Tabungan Negara (Persero) Tbk (“BTN”) which
(Persero) Tbk (“BTN”) yang terdiri dari Non-Cash consist of Non-Cash Loan amounting to
Loan sebesar Rp350.000.000.000 dengan jangka Rp350,000,000,000 with one year tenor since
waktu satu tahun sejak tanggal penandatanganan signing date and Cash Loan amounting to
dan Cash Loan sebesar Rp150.000.000.000 Rp150,000,000,000 with 5 year financing tenor
dengan jangka waktu pembiayaan 5 tahun sejak since signing date. This facility is unsecured.
tanggal penandatanganan. Fasilitas ini tidak dijamin
dengan agunan khusus.
Pada tanggal 8 Februari 2023, Perusahaan On February 8, 2023, the Company has withdrawn
melakukan penarikan pinjaman dari BTN sebesar its facility amounting to Rp150,000,000,000 from
Rp150.000.000.000. BTN.
Pada tanggal 21 Desember 2023, Perusahaan On December 21, 2023, the Company has signed
menandatangani perjanjian penambahan limit an agreement to increase the Non-Cash Loan
fasilitas Non-Cash Loan menjadi sebesar maksimal facility limit to a maximum Rp850,000,000,000 with
Rp850.000.000.000 dengan jangka waktu pinjaman credit term until November 22, 2025.
sampai dengan 22 November 2025.
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled installment
pembayaran cicilan terjadwal sebesar Rp6,000,000,000 to BTN.
Rp6.000.000.000 kepada BTN.
105
Page 272
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Pinjaman jangka panjang (lanjutan) Long-term loan (continued)
PT Medco Power Indonesia (“Perusahaan”) PT Medco Power Indonesia (“the Company”)
(lanjutan) (continued)
PT Bank Mandiri Tbk PT Bank Mandiri Tbk
Pada tanggal 26 April 2023, Perusahaan telah On April 26, 2023, the Company has signed Term
menandatangani perjanjian Term Loan dengan PT Loan Facility agreement with PT Bank Mandiri Tbk
Bank Mandiri Tbk ("BMRI") sebesar ("BMRI") amounting to Rp750,000,000,000 with 36
Rp750.000.000.000 dengan jangka waktu 36 bulan months tenor since signing date or until December
dari tanggal penandatanganan fasilitas atau tanggal 31, 2025, whichever occurs earlier. This facility is
31 Desember 2025, mana yang lebih dahulu terjadi. unsecured.
Fasilitas ini tidak dijamin dengan agunan khusus.
Perusahaan telah melakukan penarikan pinjaman The Company has withdrawn loan facility from
dari BMRI total sebesar Rp550.000.000.000 pada BMRI totaled to Rp550,000,000,000 during 2023.
tahun 2023.
Selama tahun 2023, Perusahaan telah melakukan During the year 2023, the Company made
pembayaran terjadwal dan sukarela sebesar scheduled and voluntary repayment amounting to
Rp360.000.000.000. Rp360,000,000,000.
Pada tanggal 26 Januari 2024, MPI melakukan On January 26, 2024, MPI has made voluntary
perlunasan dipercepat sebesar Rp190.000.000.000 repayment amounting to Rp190,000,000,000 to PT
kepada PT Bank Mandiri (Persero) Tbk. Bank Mandiri (Persero) Tbk.
PT Bank Maybank Indonesia Tbk PT Bank Maybank Indonesia Tbk
Pada tanggal 16 Mei 2024, MPI melakukan On May 16, 2024, MPI signed a credit facility
penandatanganan perjanjian kredit dengan PT agreement with PT Bank Maybank Indonesia Tbk
Bank Maybank Indonesia Tbk ("Maybank") sebesar ("Maybank") Rp780,000,000,000 with details:
Rp780.000.000.000 dengan rincian:
• Tranche A dan B dengan total plafon • Tranche A and B with total maximum credit
maksimal Rp700.000.000.000 dengan jangka Rp700,000,000,000 with 60 months tenor
waktu 60 bulan sejak tanggal since signing date.
penandatanganan. • Revolving Promissory Loan with maximum
• Pinjaman Promes Berulang sampai maksimal credit Rp80,000,000,000 with tenor until
Rp80.000.000.000 dengan jangka waktu May 13, 2025.
sampai 13 Mei 2025.
Fasilitas ini tidak dijamin dengan agunan khusus. This facility is unsecured loan.
Pada 21 Mei dan 24 Juni 2024, MPI melakukan On May 21 and June 24, 2024, MPI has withdrawn
penarikan pinjaman masing-masing sebesar Rp167,769,000,000 and Rp80,000,000,000,
Rp167.769.000.000 dan Rp80.000.000.000 dari respectively, from Maybank.
Maybank.
Pada tanggal 24 Juli 2024, PT Medco Power On July 24, 2024, PT Medco Power Indonesia has
Indonesia melakukan pelunasan pinjaman promes settled revolving loan Rp80,000,000,000 to
berulang sebesar Rp80.000.000.000 dari Maybank. Maybank.
Pada tanggal 18 dan 24 September 2024, PT On September 18 and 24, 2024, PT Medco Power
Medco Power Indonesia melakukan penarikan Indonesia has withdrawn revolving loan
pinjaman promes berulang dengan total Rp80,000,000,000 to Maybank.
Rp80.000.000.000 dari Maybank.
Pada 1 dan 11 Oktober 2024, MPI melakukan On October 1 and 11, 2024, MPI has withdrawn
penarikan pinjaman sebesar Rp496.875.000.000 Rp496,875,000,000 and Rp35,356,000,000 from
dan Rp35.356.000.000 dari Maybank. Maybank.
Selama tahun 2024, MPI telah melakukan During 2024, MPI has paid scheduled installment
pembayaran cicilan terjadwal sebesar Rp4,194,225,000 to Maybank.
Rp4.194.225.000 kepada Maybank.
PT Bank KEB Hana Indonesia ("Bank Hana") PT Bank KEB Hana Indonesia ("Bank Hana")
Pada 19 Juni 2024, MPI melakukan penandatangan On June 19, 2024, MPI signed a credit facility
perjanjian kredit dengan PT Bank KEB Hana agreement with PT Bank KEB Hana Indonesia
Indonesia sebesar Rp150.000.000.000. Fasilitas ini Rp150,000,000,000. This facility is unsecured.
tidak dijamin dengan agunan khusus.
106
Page 273
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Pinjaman jangka panjang (lanjutan) Long-term loan (continued)
PT Medco Power Indonesia (“Perusahaan”) PT Medco Power Indonesia (“the Company”)
(lanjutan) (continued)
PT Bank KEB Hana Indonesia ("Bank Hana") PT Bank KEB Hana Indonesia ("Bank Hana")
(lanjutan) (lanjutan)
Pada 26 Juni 2024, MPI melakukan penarikan On June 26, 2024, MPI has withdrawn
pinjaman sebesar Rp150.000.000.000 dari Bank Rp150,000,000,000 from Bank Hana.
Hana.
PT Bank Syariah Indonesia Tbk - Fasilitas PT Bank Syariah Indonesia Tbk - Syariah
Pembiayaan Berdasarkan Prinsip Syariah Facility
Pada 18 Desember 2024, MPI melakukan On December 18, 2024, MPI signed syariah facility
penandatangan perjanjian berdasarkan prinsip agreement with PT Bank Syariah Indonesia Tbk
syariah dengan PT Bank Syariah Indonesia Tbk ("BSI") Rp750,000,000,000. This facility is
("BSI") sebesar Rp750.000.000.000. Fasilitas ini unsecured.
tidak dijamin dengan agunan khusus.
Pada 23 Desember 2024, MPI melakukan On December 23, 2024, MPI has withdrawn
penarikan pinjaman sebesar Rp180.081.000.000 Rp180,081,000,000 from BSI.
dari BSI.
PT Medco Ratch Power Riau (“MRPR”) PT Medco Ratch Power Riau (“MRPR”)
Konsorsium pemberi pinjaman Riau Riau lenders consortium
Pada tanggal 20 Maret 2019, PT Medco Ratch On March 20, 2019, PT Medco Ratch Power Riau
Power Riau (“MRPR”) menandatangani perjanjian (“MRPR”) entered into a financing agreement with a
pendanaan dengan konsorsium pemberi pinjaman consortium of lenders to provide funding in an
untuk menyediakan pendanaan dengan jumlah aggregate amount of approximately US$222 million
agregat sekitar AS$222 juta terkait dengan related to the development of a 275-megawatt
pengembangan fasilitas pembangkit listrik tenaga (MW) gas-fired power plant facility with a maturity
gas 275-megawatt (MW) dengan waktu jatuh tempo date of due in March 2039. The consortium of
pada Maret 2039. Konsorsium pemberi pinjaman lenders consists of Asian Development Bank
terdiri dari Asian Development Bank (“ADB”), (“ADB”), International Finance Corporation (“IFC”),
International Finance Corporation (“IFC”), MUFG MUFG Bank Ltd (“MUFG”) and Sumitomo Mitsui
Bank Ltd (“MUFG”) dan Sumitomo Mitsui Banking Banking Corporation (“SMBC”). This facility is
Corporation (“SMBC”). Fasilitas ini dijamin dengan secured by fixed assets used in the concession
aset tetap yang digunakan dalam aset proyek jasa service project assets, rights to receivables from
konsesi, hak atas piutang atas proyek dan gadai the project and pledge of shares in the project.
saham dalam proyek.
MRPR melakukan pembayaran cicilan terjadwal ke MRPR made scheduled installments to the
konsorsium pemberi pinjaman Riau total sebesar consortium of lenders totaled to US$9,596,579
AS$9.596.579 selama tahun 2024 (2023: during 2024 (2023: US$7,633,141).
AS$7.633.141).
PT Energi Listrik Batam (“ELB”) PT Energi Listrik Batam (“ELB”)
PT Bank Syariah Indonesia Tbk - Fasilitas PT Bank Syariah Indonesia Tbk - Musyarakah
Musyarakah Mutanaqishah, Fasilitas Mutanaqishah Facility, Musyarakah Facility and
Musyarakah dan Fasilitas Kafalah bil Ujrah Kafalah bil Ujrah
Pada Desember 2016, PT Energi Listrik Batam In December 2016, PT Energi Listrik Batam (“ELB”)
(“ELB”) menandatangani Perjanjian Fasilitas signed a Musyarakah Mutanaqishah Facility
Musyarakah Mutanaqishah, Fasilitas Musyarakah Agreement, Musyarakah Facility and Kafalah bil
dan Fasilitas Kafalah bil Ujrah dengan PT Bank Ujrah Facility with PT Bank Syariah Mandiri
Syariah Mandiri sebesar AS$51.000.000 dengan amounting to US$51,000,000 with a ten year tenor.
tenor sepuluh tahun. Fasilitas ini dijamin dengan This facility is secured by fixed assets used in
aset tetap yang digunakan dalam sewa guna leasing, rights over receivables, ELB shares owned
usaha, hak atas piutang, saham ELB yang dimiliki by PT Universal Batam Energy and PT Universal
oleh PT Universal Batam Energy dan PT Universal Gas Energy and guarantee letter from the
Gas Energy dan surat jaminan dari Perusahaan. Company.
Berdasarkan perjanjian pinjaman, ELB diharuskan Based on the loan agreement, ELB is required to
untuk memelihara beberapa rekening bank yang maintain several restricted bank accounts at BSI
dibatasi penggunaannya di BSI dengan saldo with a minimum balance as specified in the loan
minimum sebagaimana ditentukan dalam perjanjian agreement.
pinjaman.
107
Page 274
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Pinjaman jangka panjang (lanjutan) Long-term loan (continued)
PT Energi Listrik Batam (“ELB”) (lanjutan) PT Energi Listrik Batam (“ELB”) (continued)
PT Bank Syariah Indonesia Tbk - Fasilitas PT Bank Syariah Indonesia Tbk - Musyarakah
Musyarakah Mutanaqishah, Fasilitas Mutanaqishah Facility, Musyarakah Facility and
Musyarakah dan Fasilitas Kafalah bil Ujrah Kafalah bil Ujrah (continued)
(lanjutan)
ELB telah melakukan pembayaran cicilan terjadwal ELB has paid scheduled installment to BSI
ke BSI sebesar AS$5.670.583 pada tahun 2024 amounting to US$5,670,583 during 2024 (2023:
(2023: AS$3.643.090). US$3,643,090).
Pada tanggal 16 Oktober 2023, ELB telah On October 16, 2023, ELB signed project financing
menandatangani Perjanjian Pembiayaan Proyek agreement with PT Bank Syariah Indonesia Tbk
dengan PT Bank Syariah Indonesia Tbk dengan amounting to US$86,900,000. This financing aims
fasilitas pinjaman tunai sebesar AS$86.900.000. to refinance Simple Cycle Gas Power Plant 2x35
Pembiayaan ini bertujuan untuk refinancing MW and to finance Combine Cycle Gas Power
pembangkit listrik berupa PLTG Simple Cycle Plant 39 MW located in Tanjung Uncang, Batam.
Power Plant 2x35 MW dan Combine Cycle Power This facility is secured by fixed assets used in
Plant 39 MW berlokasi di Tanjung Uncang, Batam. leasing, rights over receivables, ELB shares owned
Fasilitas ini dijamin dengan aset tetap yang by PT Universal Batam Energy and PT Universal
digunakan dalam sewa guna usaha, hak atas Gas Energy and guarantee letter from the
piutang, saham ELB yang dimiliki oleh PT Universal Company. This loan will be paid through
Batam Energy dan PT Universal Gas Energy dan installments with the final installment in 2036.
surat jaminan dari Perusahaan. Pinjaman ini akan
dilunasi melalui pembayaran cicilan dengan cicilan
terakhir pada tahun 2036.
Pada tanggal 17 Oktober 2023, ELB melakukan On October 17, 2023, ELB made a withdrawal
penarikan sebesar AS$18.194.796 dari PT Bank amounting US$18,194,796 from PT Bank Syariah
Syariah Indonesia Tbk. Pada tanggal 19 Oktober Indonesia Tbk. On October 19, 2023, ELB has fully
2023, ELB melakukan pelunasan atas seluruh sisa settled the remaining outstanding principal of the
pokok fasilitas pembiayaan dari PT Bank Syariah financing facility from PT Bank Syariah Indonesia
Indonesia Tbk yang ditandatangani pada Desember Tbk signed in December 2016 amounting
2016 sebesar AS$18.194.796. US$18,194,796.
Pada 12 Desember 2023, ELB melakukan On December 12, 2023, ELB made a withdrawal
penarikan sebesar AS$2.000.000 dari PT Bank amounting US$2,000,000 from PT Bank Syariah
Syariah Indonesia Tbk. Indonesia Tbk.
Pada 23 Agustus dan 3 September 2024, ELB On August 23 and September 3, 2024, ELB has
melakukan penarikan pinjaman sebesar withdrawn US$1,000,000 and US$3,000,000 from
AS$1.000.000 dan AS$3.000.000 dari PT Bank PT Bank Syariah Indonesia Tbk, respectively.
Syariah Indonesia Tbk.
PT Medco Cahaya Geothermal (“MCG”) PT Medco Cahaya Geothermal (“MCG”)
PT Sarana Multi Infrastruktur (Persero) PT Sarana Multi Infrastruktur (Persero)
Pada 11 Januari 2023, PT Medco Cahaya On January 11, 2023, PT Medco Cahaya
Geothermal menandatangani Perjanjian Geothermal signed project financing agreement
Pembiayaan Proyek sebesar AS$70.000.000 amounting US$70,000,000 with PT Sarana Multi
dengan PT Sarana Multi Infrastruktur, dengan Infrastruktur, with 20 years tenor. This financing
jangka waktu 20 tahun. Pembiayaan ini bertujuan aims to finance the Ijen Geothermal Power Plant
untuk pembangunan PLTP Ijen unit 1 kapasitas phase-1 capacity 31.4 MW in Blawan-Ijen. This
31,4 MW di kawasan Blawan-Ijen. Fasilitas ini facility is collateralized by all of the project’s assets,
dijamin dengan asset proyek, hak atas piutang, dan rights over receivables on the project, and a pledge
gadai saham dalam proyek. of all shares in the project.
Selama 2023, MCG melakukan penarikan pinjaman During 2023, MCG has withdrawn loan from this
dari fasilitas ini total sebesar AS$7.858.384, facility amounting to US$7,858,384, that includes
termasuk fasilitas bunga masa konstruksi sebesar interest during construction amounted to
AS$25.857. US$25,857.
108
Page 275
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
25. PINJAMAN DARI BANK DAN LEMBAGA 25. LOANS FROM BANK AND OTHER FINANCIAL
KEUANGAN LAINNYA (lanjutan) INSTITUTION (continued)
Pinjaman jangka panjang (lanjutan) Long-term loan (continued)
PT Medcosolar Bali Timur ("MSBT") PT Medcosolar Bali Timur ("MSBT")
PT Bank Negara Indonesia (Persero), Tbk. PT Bank Negara Indonesia (Persero), Tbk.
Pada 20 Maret 2024, PT Medcosolar Bali Timur On March 20, 2024, PT Medcosolar Bali Timur
menandatangani Perjanjian Pembiayaan Proyek signed a Project Financing Agreement
sebesar AS$13.263.000 dan Rp50.218.000.000 US$13,263,000 and Rp50,218,000,000 with PT
dengan PT Bank Negara Indonesia (Persero), Tbk., Bank Negara Indonesia (Persero), Tbk., with a term
dengan jangka waktu 15 tahun. Pembiayaan ini of 15 years. This financing aims to build the East
bertujuan untuk pembangunan PLTS Bali Timur Bali PLTS with a capacity of 25 MWp in
kapasitas 25 MWp di Kabupaten Karangasem, Bali. Karangasem Regency, Bali. This facility is
Fasilitas ini dijamin dengan aset proyek, hak atas guaranteed by project assets, rights to receivables,
piutang, dan gadai saham dalam proyek. and a pledge of shares in the project.
Selama tahun 2024, MSBT melakukan penarikan During 2024, MSBT has withdrawn US$3,922,168
pinjaman sebesar AS$3.922.168 dan and Rp10,886,914,801 from PT Bank Negara
Rp10.886.914.801 dari PT Bank Negara Indonesia Indonesia (Persero), Tbk.
(Persero), Tbk.
Pada tanggal 31 Desember 2024, Grup memiliki As of December 31, 2024, the Group has the
Fasilitas Kredit Bank dan Fasilitas Umum Bank following Unused Credit Bank Facility and General
yang belum digunakan sebagai berikut: Bank Facility:
Fasilitas yang Tidak
Digunakan pada
Tanggal Pada Akhir
Total Fasilitas Tanggal 31
Entitas/Entity Kreditur/Lenders Fasilitas/ Facility Maksimum/Maximum Desember 2024/
Facility Amount Unused Portion of
the Facility as of
December 31, 2024
MPI PT Bank Negara Fasilitas Non-Cash AS$82.500.000/ AS$54.047.783/
Indonesia Loan/ Non-Cash Loan US$82,500,000 US$54,047,783
Facility
MPI PT Bank Mandiri Fasilitas Non-Cash Rp650.000.000.000 Rp304.802.694.516
(Persero) Tbk Loan/ Non-Cash Loan
Facility
MPI PT Bank Tabungan Fasilitas Non-Cash Rp850.000.000.000 Rp345.424.103.600
Negara (Persero) Tbk Loan/ Non-Cash Loan
Facility
MPI PT Bank Syariah Fasilitas Perbankan/ Rp750.000.000.000 Rp569.919.000.000
Indonesia (Persero) Banking Facility
Tbk
MPI PT Bank Woori Fasilitas Perbankan/ AS$8.000.000/ AS$4.750.000/
Saudara Indonesia Banking Facility US$8,000,000 US$4,750,000
1906 Tbk
MCG PT Sarana Multi Fasilitas Perbankan/ AS$70.000.000/ AS$9.820/
Infrastruktur Banking Facility US$70,000,000 US$9,820
(Persero)
ELB PT Bank Syariah Fasilitas Perbankan/ AS$86.900.000/ AS$45.209.181/
Indonesia (Persero) Banking Facility US$86,900,000 US$45,209,181
Tbk
ELB PT Bank Syariah Fasilitas Non-Cash AS$10.000.000/ AS$2.222.603/
Indonesia (Persero) Loan/Non-Cash Loan US$10,000,000 US$2,222,603
Tbk Facility
MSBT PT Bank Negara Fasilitas Perbankan/ AS$13.263.000/ AS$7.799.183/
Indonesia Banking Facility US$13,263,000 US$7,799,183
MSBT PT Bank Negara Fasilitas Perbankan/ Rp47.497.593.130 Rp36.610.678.329
Indonesia Banking Facility
109
Page 276
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
26. PINJAMAN JANGKA PANJANG LAINNYA 26. OTHER LONG-TERM DEBT
Instrumen pembiayaan yang diterbitkan Grup terdiri The financing instrument issued by the Group
dari: consists of the following:
2024 2023
Obligasi Bonds
Jatuh tempo pada tahun 2025 258.000.000.000 258.000.000.000 Due in 2025
Sukuk Wakalah Sukuk Wakalah
Jatuh tempo pada tahun 2024 - 7.000.000.000 Due in 2024
Jatuh tempo pada tahun 2025 792.690.000.000 792.690.000.000 Due in 2025
Jatuh tempo pada tahun 2026 10.300.000.000 10.300.000.000 Due in 2026
Jatuh tempo pada tahun 2027 526.305.000.000 350.310.000.000 Due in 2027
Jatuh tempo pada tahun 2029 494.490.000.000 - Due in 2029
Jatuh tempo pada tahun 2031 79.515.000.000 - Due in 2031
Biaya penerbitan obligasi dan
sukuk wakalah yang belum Unamortized issuance costs of
diamortisasi (9.717.598.365) (8.641.568.392) bonds and sukuk wakalah
Total 2.151.582.401.635 1.409.658.431.608 Total
Dikurangi porsi jangka panjang 1.100.892.401.635 1.402.658.431.608 Less long-term portion
Porsi jangka pendek 1.050.690.000.000 7.000.000.000 Current portion
Informasi lain mengenai utang jangka panjang Further information relating to other long-term debts
lainnya adalah sebagai berikut: are as follows:
Utang jangka Kupon per
panjang/ Long- Peringkat/ Jatuh tempo/ tahun/ Coupon Jaminan/
term debt Pokok/ Principal Rating Terdaftar/ Listed Maturity p.a Security
Obligasi Rupiah Seri B PT Pemeringkat Bursa Efek Dibayar 10,25% Obligasi ini tidak
I/ Rupiah Bonds I Rp63.000.000.000/ Efek Indonesia Indonesia/ seluruhnya pada Terutang setiap dijamin dengan
Tranche B (PEFINDO): A Indonesia Stock bulan Juli 2023/ kuartal/ 10.25% agunan khusus/
Rp63,000,000,000 (2023) Exchange Fully paid in July Payable quarterly These bonds are
2023 unsecured.
Seri C Juli 2025/ July 10,75%
Rp258.000.000.000/ 2025 Terutang setiap
Tranche C kuartal/ 10.75%
Rp258,000,000,000 Payable quarterly
Sukuk Wakalah Seri B PT Pemeringkat Bursa Efek Dibayar 10,25% Obligasi ini tidak
Rupiah I/ Rupiah Rp404.000.000.000/ Efek Indonesia Indonesia/ seluruhnya pada Terutang setiap dijamin dengan
Sukuk Wakalah I Tranche B (PEFINDO): A Indonesia Stock bulan Juli 2023/ kuartal/ 10.25% agunan khusus/
Rp404,000,000,000 (Sy) (2023) Exchange Fully paid in July Payable quarterly These bonds are
2023 unsecured.
Seri C Juli 2025/ July 10,75%
Rp43.000.000.000/ 2025 Terutang setiap
Tranche C kuartal/ 10.75%
Rp43,000,000,000 Payable quarterly
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Dibayar 10,00% Obligasi ini tidak
Rupiah II/ Rupiah Rp832.700.000.000/ Efek Indonesia Indonesia/ seluruhnya pada Terutang setiap dijamin dengan
Sukuk Wakalah II Tranche A (PEFINDO): A Indonesia Stock bulan Mei 2022/ kuartal/ 10.00% agunan khusus/
Rp832,700,000,000 (Sy) (2023) Exchange Fully paid in May Payable quarterly These bonds are
2022 unsecured.
Seri B Dibayar 10,55%
Rp7.000.000.000/ seluruhnya pada Terutang setiap
Tranche B bulan Mei 2024/ kuartal/ 10.55%
Rp7,000,000,000 Fully paid in May Payable quarterly
2024
Seri C Mei 2026/ May 11,10%
Rp10.300.000.000/ 2026 Terutang setiap
Tranche C kuartal/ 11.10%
Rp10,300,000,000 Payable quarterly
110
Page 277
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
26. PINJAMAN JANGKA PANJANG LAINNYA 26. OTHER LONG-TERM DEBT (continued)
(lanjutan)
Informasi lain mengenai utang jangka panjang Further information relating to other long-term debts
lainnya adalah sebagai berikut: (lanjutan) are as follows: (continued)
Utang jangka Kupon per
panjang/ Long- Peringkat/ Jatuh tempo/ tahun/ Coupon Jaminan/
term debt Pokok/ Principal Rating Terdaftar/ Listed Maturity p.a Security
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Agustus 2025/ 8,00% Obligasi ini tidak
Berkelanjutan Rp280.000.000.000/ Efek Indonesia Indonesia/ August 2025 Terutang setiap dijamin dengan
Rupiah I Tahap I/ Tranche A (PEFINDO): A Indonesia Stock kuartal/ 8.00% agunan khusus/
Rupiah Shelf Rp280,000,000,000 (Sy) (2023) Exchange Payable quarterly These bonds are
Registered Sukuk unsecured.
Wakalah I Phase I
Seri B Agustus 2027/ 9,25%
Rp220.000.000.000/ August 2027 Terutang setiap
Tranche B kuartal/ 9.25%
Rp220,000,000,000 Payable quarterly
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Desember 2025/ 9,00% Obligasi ini tidak
Berkelanjutan Rp469.690.000.000/ Efek Indonesia Indonesia/ December 2025 Terutang setiap dijamin dengan
Rupiah I Tahap II/ Tranche A (PEFINDO): A Indonesia Stock kuartal/ 9.00% agunan khusus/
Rupiah Shelf Rp469,690,000,000 (Sy) (2023) Exchange Payable quarterly These bonds are
Registered Sukuk unsecured.
Wakalah I Phase
II
Seri B Desember 2027/ 9,50%
Rp130.310.000.000/ December 2027 Terutang setiap
Tranche B kuartal/ 9.50%
Rp130,310,000,000 Payable quarterly
Sukuk Wakalah Seri A PT Pemeringkat Bursa Efek Januari 2027/ 8,55% Obligasi ini tidak
Berkelanjutan Rp175.995.000.000/ Efek Indonesia Indonesia/ January 2027 Terutang setiap dijamin dengan
Rupiah I Tahap III/ Tranche A (PEFINDO): A Indonesia Stock kuartal/8.55% agunan khusus/
Rupiah Shelf Rp175,995,000,000 (Sy) (2023) Exchange Payable quarterly These bonds are
Registered Sukuk unsecured.
Wakalah I Phase
III
Seri B Januari 2029/ 9,50%
Rp494.490.000.000/ January 2029 Terutang setiap
Tranche B kuartal/9.50%
Rp494,490,000,000 Payable quarterly
Seri C Januari 2031/ 10,00%
Rp79.515.000.000/ January 2031 Terutang setiap
Tranche C kuartal/10.00%
Rp79,515,000,000 Payable quarterly
111
Page 278
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
26. PINJAMAN JANGKA PANJANG LAINNYA 26. OTHER LONG-TERM DEBT (continued)
(lanjutan)
a. Pembatasan-pembatasan atas penerbitan a. Covenants related to issuance of Bond and
Obligasi dan Sukuk Wakalah Sukuk Wakalah
Berdasarkan syarat-syarat dan kondisi-kondisi Under the terms and conditions of the
dari perjanjian sehubungan dengan penerbitan agreements related to the issuance of Bond
Obligasi dan Sukuk Wakalah, Perusahaan and Sukuk Wakalah, the Company is subject
harus mematuhi pembatasan tertentu, antara to various covenants, among others, obtaining
lain memperoleh persetujuan tertulis dari Wali approval from Trustee prior to undertaking
Amanat sebelum melakukan transaksi- certain actions such as: mergers or
transaksi tertentu seperti ketika melakukan acquisitions, reducing the authorized, issued
penggabungan atau peleburan dengan and fully paid capital, pledging and transferring
perusahaan lain, mengurangi modal dasar, the Company’s assets, restrictions on granting
modal ditempatkan dan disetor penuh, loans to third parties, changing the main
menjaminkan dan mengalihkan aset business activities of the Company, issuing
Perusahaan, memberikan pinjaman atau senior debt, filing for bankruptcy or delaying
jaminan kepada pihak ketiga, mengubah loan payments, declaring and paying
bisnis utama Perusahaan, menerbitkan dividends in excess of 50% payout ratio or
obligasi senior, mengajukan permintaan pailit negative impact to the ability of the Company
atau penundaan pembayaran pinjaman, for making payment of coupon and/or return
mengumumkan dan membayar dividen and principal of Bond and Sukuk Wakalah and
melebihi 50% payout ratio atau yang berakibat
requirement to comply with certain financial
negatif pada kemampuan Perusahaan dalam
ratios.
melakukan pembayaran kupon dan/atau imbal
hasil serta pokok obligasi dan sukuk wakalah,
dan harus mematuhi rasio-rasio keuangan
tertentu.
Manajemen menyatakan bahwa selama tahun Management represented that during the
pelaporan dan pada tanggal penyelesaian reporting periods and as of the completion
laporan keuangan konsolidasian, Grup tidak date of the consolidated financial statements,
pernah mengalami kondisi gagal bayar atas the Group has never defaulted on paying its
obligasi yang telah jatuh tempo. maturing bonds.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023,
manajemen berpendapat bahwa Grup telah management is in opinion that the Group has
mematuhi pembatasan tersebut dan semua complied with all covenants and meet the
rasio keuangan yang dipersyaratkan dalam financial ratios required to be maintained
penerbitan Obligasi dan Sukuk Wakalah. under the agreements related to the issuance
of Bond and Sukuk Wakalah.
b. Wali Amanat b. Trustee
Grup telah menunjuk PT Bank Mega, Tbk The Group engaged PT Bank Mega, Tbk. as
sebagai Wali Amanat yang berperan sebagai Trustees to act as the intermediaries between
perantara antara Grup dengan Pemegang the Group and the holders of Bond and Sukuk
Obligasi dan Sukuk Wakalah yang diterbitkan Wakalah issued by the Group.
Grup.
c. Lain-lain c. Others
Perusahaan menggunakan hasil dari The Company utilized the proceeds from
penerbitan Obligasi dan Sukuk Wakalah ini Bonds and Sukuk Wakalah to refinance
untuk melakukan pembiayaan kembali atas certain loan obtained by the subsidiaries and
pinjaman yang dimiliki beberapa entitas anak finance the capital expenditures of certain
dan pembiayaan pada beberapa proyek yang projects developed by the subsidiaries.
dikembangkan entitas anak.
112
Page 279
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
27. DERIVATIF 27. DERIVATIVE
Grup melakukan transaksi perjanjian pertukaran The Group entered into interest rate swaps hedging
tingkat suku bunga sebagai instrumen lindung nilai instruments to manage its interest rate and foreign
untuk mengelola risiko atas tingkat bunga dan mata currency risks. All contracts entered into by the
uang asing. Seluruh kontrak yang dilakukan Grup Group have underlying obligations.
mempunyai kewajiban yang mendasari.
2024 2023
Liabilitas
Aset Derivatif/ Derivatif/ Keuntungan
Liabilitas Derivative Derivative (Kerugian)/
Derivatif/ Keuntungan Assets Liabilities Gain/
Pihak ketiga/ Third Aset Derivatif/ Derivative (Kerugian)/ Derivative Derivative (Loss)Gain/
parties Jenis/ Type Derivative Assets Liabilities Gain/ (Loss) Assets Liabilities (Loss)
Perusahaan/
The Company
PT Bank Negara Perjanjian swap
Indonesia (Persero) atas mata uang
Tbk silang/ Cross-
currency swap - - - - - (7.013.142.999)
PT Medco Ratch Power
Riau (MRPR)
MUFG Bank Ltd Perjanjian swap
atas mata uang
silang/ Interest
rate swap 150.756.925.038 - 21.559.398.967 129.197.526.071 - (13.017.070.355)
International Finance Perjanjian swap
Corporation atas mata uang
silang/ Interest
rate swap 90.532.727.879 - 12.177.837.012 78.354.890.867 - (5.404.176.022)
Sumitomo Mitsui Banking Perjanjian swap
Corporation atas mata uang
silang/ Interest
rate swap 150.523.138.153 - 21.462.405.957 129.060.732.196 - (8.703.686.244)
Jumlah/Total 391.812.791.070 - 55.199.641.936 336.613.149.134 - (34.138.075.620)
Dikurangi yang jatuh
tempo dalam satu
tahun/
Less current portion 30.282.826.190 - 27.392.277.405 -
Bagian jangka panjang/
Long-term portion 361.529.964.880 - 309.220.871.729 -
Bagian efektif atas perubahan nilai wajar derivatif The effective portion of changes in the fair value of
yang ditunjuk dan memenuhi syarat sebagai derivatives that are designated and qualify as cash
lindung nilai arus kas diakui di penghasilan flow hedges is recognized in other comprehensive
komprehensif lain. Keuntungan dan kerugian yang income. Gains and losses recognized in the other
diakui dalam penghasilan komprehensif lain di comprehensive income in equity on interest rate
ekuitas atas perjanjian swap atas suku bunga akan swap agreements will be continuously released to
terus dilepaskan ke laba atau rugi sampai the profit or loss until repayment of the bank
pelunasan pinjaman bank. borrowings.
113
Page 280
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
27. DERIVATIF (lanjutan) 27. DERIVATIVE (continued)
Informasi lebih lanjut mengenai derivatif yang Further information relating to the derivatives
dilakukan oleh Perusahaan dan MRPR adalah undertaken by the Company and MRPR are as
sebagai berikut: follows:
Nilai Nominal/ Notional Amount Tanggal
Pertukaran
Tanggal
Pihak ketiga/ Jenis/ Dalam mata Akhir/ Syarat dan ketentuan/
Efektif/
Third Parties Type Dalam Rp/ uang asing - Final Terms and condition
Effective date
In Rp AS$/ In foreign Exchange
currency - US$ Date
International Interest - 33.415.359 27 November 18 Maret 2039/ MRPR menerima suku
Finance swap 2019/ March 18, bunga mengambang
Corporation November 27, 2039 USD-SOFR 6 bulan
2019 ditambah spread dan
membayar suku bunga
tetap per tahun setiap
MUFG Bank Interest - 57.474.418 27 November 18 Maret 2039/ tanggal 23 Februari dan
Ltd swap 2019/ March 18, 23 Agustus./MRPR shall
November 27, 2039 receive a floating 6
2019 months USD-SOFR
based interest rate plus
Sumitomo Interest - 57.474.418 27 November 18 Maret 2039/ spread and pay a fixed
Mitsui swap 2019/ March 18, interest rate per annum on
Banking November 27, 2039 every February 23 and
Corporation 2019 August 23.
PT Bank Cross- 97.031.250.000 6.750.000 4 Maret 2022/ 26 Mei 2023/ Perusahaan membayar
Negara currency March 4, 2022 May 26, 2023 tingkat bunga tetap per
Indonesia swap tahun atas dan dalam nilai
(Persero) Tbk nominal Rupiah dan
menerima pada tingkat
suku bunga mengambang
atas dan dalam nilai
nominal Dolar AS setiap
periode pembayaran
pinjaman/The Company
shall pay a fixed interest
rate on and at the Rupiah
notional amount and
receive a floating interest
rate on and at the US
Dollar notional amount
every scheduled loan
repayment date.
28. LIABILITAS IMBALAN KERJA 28. ESTIMATED LIABILITY FOR EMPLOYEE
SERVICE ENTITLEMENTS
a. Grup mengakui penyisihan imbalan kerja a. The Group recognizes provision for employee
karyawan untuk seluruh karyawan yang service entitlements for all of their qualified
memenuhi syarat sesuai dengan ketentuan employees in accordance with the provisions
dalam Undang-Undang Ketenagakerjaan No. set forth in Labor Law No. 13/2003 dated
13/2003 tanggal 25 Maret 2003 ("Undang- March 25, 2003 ("Law No. 13"), Collective
Undang No. 13"), Perjanjian Kerja Bersama Labor Agreement ("CLA") and Company
("PKB") dan Peraturan Perusahaan ("PP"). Regulations ("CR").
Pada tanggal 31 Desember 2024, liabilitas As of December 31, 2024, the employee
imbalan kerja ditetapkan berdasarkan benefits liabilities are determined based on the
perhitungan aktuaris independen Steven and calculation of independent actuaries, Steven
Mourits dan Yusi dan rekan yang laporannya and Mourits and Yusi and Partner as set forth
tertanggal 7 Maret 2025. in their reports dated March 7, 2025.
Pada tanggal 31 Desember 2023, liabilitas As of December 31, 2023, the employee
imbalan kerja ditetapkan berdasarkan benefits liabilities are determined based on the
perhitungan aktuaris independen Steven and calculation of independent actuaries, Steven
Mourits dan Yusi dan rekan yang laporannya and Mourits and Yusi and Partner as set forth
tertanggal 22 Maret 2024. in their reports dated March 22, 2024.
114
Page 281
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
28 LIABILITAS IMBALAN KERJA (lanjutan) 28 ESTIMATED LIABILITY FOR EMPLOYEE
SERVICE ENTITLEMENTS (continued)
Liabilitas pensiun imbalan pasti dihitung The defined benefit obligations were
dengan menggunakan metode projected unit calculated using the projected unit credit
credit, berdasarkan asumsi berikut: method, based on the following assumptions:
2024 2023
Tingkat diskonto 6,88% - 7,01% 6,37% - 6,90% Discount rate per annum
Tingkat kenaikan gaji 5,00% - 6,00% 5,00% - 6,00% Salary increment rate
Tingkat kematian Tabel Mortalitas Tabel Mortalitas Mortality rate
Indonesia tahun 2019/ Indonesia tahun 2019/
Indonesian Table of Indonesian Table of
Mortality 2019 Mortality 2019
Tingkat pengunduran diri 1% hingga usia 25 1% hingga usia 25 Resignation rate
menurun linear hingga menurun linear hingga
0,05% hingga usia 54/ 0,05% hingga usia 54/
1% up to age 25 1% up to age 25
decreasing linearly decreasing linearly
into 0.05% at age 54 into 0.05% at age 54
Proporsi pensiun dini 0% 0% Proportion of early retirement
Proporsi pensiun normal 100% 100% Proportion of normal retirement
Usia pensiun 56-58 56-58 Retirement age
b. Beban imbalan kerja untuk tahun yang b. The employee service entitlement costs for the
berakhir pada tanggal 31 Desember 2024 dan year then ended December 31, 2024 and
2023 adalah sebagai berikut: 2023 are as follows:
2024 2023
Imbalan kerja Imbalan kerja
lainnya/ lainnya/
UU 13/ 2003/ Other long- UU 13/ 2003/ Other long-
Law no.13 term benefits Total Law no.13 term benefits Total
Biaya jasa kini 18.828.914.000 391.997.000 19.220.911.000 15.628.889.141 312.550.000 15.941.439.141 Current service cost
Biaya jasa masa lalu 804.283.000 930.459.000 1.734.742.000 (8.713.873.000) 168.832.000 (8.545.041.000) Past service cost
Biaya bunga 8.684.877.000 147.295.000 8.832.172.000 7.224.264.979 135.471.000 7.359.735.979 Interest cost
Employee service
Beban imbalan kerja 28.318.074.000 1.469.751.000 29.787.825.000 14.139.281.120 616.853.000 14.756.134.120 entitlement costs
115
Page 282
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
28. LIABILITAS IMBALAN KERJA (lanjutan) 28. ESTIMATED LIABILITY FOR EMPLOYEE
SERVICE ENTITLEMENTS (continued)
c. Analisa mutasi liabilitas imbalan kerja untuk c. An analysis of the movements of the estimated
tahun yang berakhir pada tanggal 31 liability for employee service entitlements for
Desember 2024 dan 2023 adalah sebagai the year then ended December 31, 2024 and
berikut: 2023 are as follows:
2024 2023
Imbalan kerja Imbalan kerja
lainnya/ lainnya/
UU 13/ 2003/ Other long- UU 13/ 2003/ Other long-
Law no.13 term benefits Total Law no.13 term benefits Total
Balance at beginning of
Saldo awal tahun 132.030.995.979 971.163.000 133.002.158.979 113.363.083.859 581.333.000 113.944.416.859 year
Employee service
Beban imbalan kerja 28.318.074.000 1.469.751.000 29.787.825.000 14.139.281.120 616.853.000 14.756.134.120 entitlement costs
Kerugian (keuntungan) Actuarial loss (gain)
aktuarial diakui recognized as other
sebagai penghasilan comprehensive
komprehensif atas: income from:
Changes in
Perubahan asumsi demographic
demografi - - - - - - assumption
Perubahan asumsi Changes in financial
finansial (4.440.632.000) - (4.440.632.000) 4.296.818.000 - 4.296.818.000 assumption
Perubahan historis (70.675.000) 1.412.359.000 1.341.684.000 1.727.984.000 - 1.727.984.000 Experience adjustment
Pembayaran manfaat (6.302.728.000) (342.271.000) (6.644.999.000) (1.496.171.000) (227.023.000) (1.723.194.000) Benefit payments
Saldo akhir tahun 149.535.034.979 3.511.002.000 153.046.036.979 132.030.995.979 971.163.000 133.002.158.979 Balance at end of year
d. Analisa mutasi nilai kini liabilitas imbalan kerja d. An analysis of the movements of the present
untuk tahun yang berakhir pada tanggal 31 value of obligation for the years then ended
Desember 2024 dan 2023 adalah sebagai December 31, 2024 and 2023 are as follows:
berikut:
2024 2023
Imbalan kerja Imbalan kerja
UU 13/2003/ lainnya/ lainnya/
Law Other long- UU 13/ 2003/ Other long-
no.13/2003 term benefits Total Law no.13 term benefits Total
Nilai kini liabilitas Present value of
imbalan kerja awal obligation at
tahun 132.030.995.979 971.163.000 133.002.158.979 113.363.083.859 581.333.000 113.944.416.859 beginning of year
Biaya jasa kini 18.828.914.000 391.997.000 19.220.911.000 15.628.889.141 312.550.000 15.941.439.141 Current service cost
Biaya jasa masa lalu 804.283.000 930.459.000 1.734.742.000 (8.713.873.000) 168.832.000 (8.545.041.000) Past service cost
Biaya bunga 8.684.877.000 147.295.000 8.832.172.000 7.224.264.979 135.471.000 7.359.735.979 Interest cost
Pembayaran manfaat (6.302.728.000) (342.271.000) (6.644.999.000) (1.496.171.000) (227.023.000) (1.723.194.000) Benefits payments
Keuntungan aktuarial (4.511.307.000) 1.412.359.000 (3.098.948.000) 6.024.802.000 - 6.024.802.000 Actuarial gain
Balance at end of
Saldo akhir tahun 149.535.034.979 3.511.002.000 153.046.036.979 132.030.995.979 971.163.000 133.002.158.979 year
116
Page 283
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
28. LIABILITAS IMBALAN KERJA (lanjutan) 28. ESTIMATED LIABILITY FOR EMPLOYEE
SERVICE ENTITLEMENTS (continued)
e. Pada tanggal 31 Desember 2024 dan 2023, e. As of December 31, 2024 and 2023, the
pembayaran imbalan kerja yang diharapkan expected benefit payments in future year are
pada tahun mendatang adalah sebagai as follows:
berikut:
2024 2023
Dalam 12 bulan mendatang 11.381.248.000 4.337.586.000 Within the next 12 months
Antara 1 sampai 2 tahun 18.460.465.000 7.390.113.000 Between 1 and 2 years
Antara 2 sampai 5 tahun 61.535.137.000 56.764.701.000 Between 2 and 5 years
Diatas 5 tahun 923.204.289.000 894.844.265.000 Beyond 5 years
Durasi rata-rata dari kewajiban imbalan kerja The average duration of the benefit obligation
pada tanggal 31 Desember 2024 dan 2023 as of December 31, 2024 and 2023 is 7.34 -
masing-masing sebesar 7,34 - 17,91 tahun 17.91 years and 9.2 - 18.29 years,
dan 9,2 - 18,29 tahun. respectively.
f. Pada tanggal 31 Desember 2024 dan 2023, f. A quantitative sensitivity analysis for significant
analisa sensitivitas atas asumsi-asumsi assumptions as of December 31, 2024 and
aktuarial adalah sebagai berikut: 2023 is shown below:
2024
Tingkat kenaikan gaji/ Salary
Tingkat diskonto/ Discount rate increment rate
Kenaikan 1%/ (Penurunan 1%)/ Kenaikan 1%/ (Penurunan 1%)/
Increase 1 % (Decrease 1%) Increase 1% (Decrease 1%)
Kenaikan Increase
(penurunan) (decrease) a
liabilitas imbalan defined benefit
kerja (9.834.622.979) 12.600.845.021 12.241.998.021 (9.695.553.979) obligation
2023
Tingkat kenaikan gaji/ Salary
Tingkat diskonto/ Discount rate increment rate
Kenaikan 1%/ (Penurunan 1%)/ Kenaikan 1%/ (Penurunan 1%)/
Increase 1 % (Decrease 1%) Increase 1% (Decrease 1%)
Kenaikan Increase
(penurunan) (decrease) a
liabilitas imbalan defined benefit
kerja (12.450.465.118) 8.734.958.151 8.366.247.332 (12.016.655.168) obligation
117
Page 284
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
29. UTANG SEWA 29. LEASE LIABILITIES
2024 2023
Saldo awal tahun 30.216.326.332 32.509.630.990 Balance at beginning of year
Ditambah: Addition:
Penambahan tahun berjalan 9.821.671.231 13.323.511.881 Addition in current year
Pengurangan tahun berjalan - - Deduction in current year
Beban bunga 1.892.957.700 2.697.895.474 Interest expense
Dikurangi: Less:
Pembayaran liabilitas sewa (20.000.129.878) (18.929.839.487) Repayment of lease liabilities
Selisih kurs 528.662.144 615.127.474 Foreign exchange effect
Saldo akhir tahun 22.459.487.529 30.216.326.332 Balance at end of year
Dikurangi bagian yang jatuh tempo
dalam satu tahun (5.994.120.857) (16.658.809.241) Less current maturity
Bagian jangka panjang 16.465.366.672 13.557.517.091 Long-term portion
Grup menyewa beberapa aset termasuk tanah, The Group leases several assets including land,
bangunan, peralatan kantor dan kendaraan, yang building, office equipment and vehicles which
pada umumnya memiliki masa sewa antara 1 generally has lease term between 1 to 29 years
sampai 29 tahun dengan tingkat diskonto sebesar with discount rate 7.42% - 12.34%.
7,42% - 12,34%.
Grup tidak menghadapi risiko likuiditas signifikan The Group does not face a significant liquidity risk
sehubungan dengan utang sewa yang dimiliki. with regard to its lease liabilities.
30. KEPENTINGAN NON-PENGENDALI 30. NON-CONTROLLING INTEREST
a. Rincian kepentingan non-pengendali atas aset a. The details of the non-controlling interests in
(liabilitas) neto entitas anak adalah sebagai net assets (liabilities) of Subsidiaries are as
berikut: follows:
2024 2023
PT Medco Ratch Power Riau 1.082.841.364.730 1.030.259.179.750 PT Medco Ratch Power Riau
PT Medco Kansai Power PT Medco Kansai Power
Indonesia 866.916.940.561 836.342.132.708 Indonesia
PT Medco Cahaya Geothermal 534.150.369.470 467.355.891.498 PT Medco Cahaya Geothermal
PT Medco Energi Menamas 191.661.773.245 176.949.683.909 PT Medco Energi Menamas
PT Dalle Energy Batam 80.672.384.776 89.628.453.513 PT Dalle Energy Batam
PT Universal Batam Energy 74.228.704.032 51.220.228.870 PT Universal Batam Energy
PT Medco General Power PT Medco General Power
Services 61.498.164.058 57.408.960.260 Services
PT Multidaya Prima Elektrindo 38.625.564.031 36.269.437.197 PT Multidaya Prima Elektrindo
PT Energi Prima Elektrika 29.793.802.590 28.037.093.942 PT Energi Prima Elektrika
PT Muara Enim Multi Power 278.024.614 273.881.352 PT Muara Enim Multi Power
PT Medco Geothermal Sarulla 206.291.439 23.759.876 PT Medco Geothermal Sarulla
PT Dalle Panaran 103.559.435 103.559.435 PT Dalle Panaran
PT Indo Medco Power 302.481 302.224 PT Indo Medco Power
PT Nawakara Energi Sumpur (451.752.623) (284.283.234) PT Nawakara Energi Sumpur
PT Medcosolar Bali Timur (1.772.427.488) (519.159.915) PT Medcosolar Bali Timur
PT Medco Solar Bali Barat (7.804.329.297) (7.248.954.427) PT Medco Solar Bali Barat
PT Sangsaka Agro Lestari (9.795.974.815) 3.369.785.572 PT Sangsaka Agro Lestari
Total 2.941.152.761.239 2.769.189.952.530 Total
118
Page 285
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30 KEPENTINGAN NON-PENGENDALI (lanjutan) 30 NON-CONTROLLING INTEREST (continued)
b. Rincian kepentingan non-pengendali atas laba b. The details of the share of the non-controlling
(rugi) neto entitas anak untuk tahun yang interests in the net profit (loss) of Subsidiaries
berakhir pada tanggal 31 Desember 2024 dan for the years ended December 31, 2024 and
2023 adalah sebagai berikut: 2023 are as follows:
2024 2023
PT Medco Kansai Power PT Medco Kansai Power
Indonesia 55.217.351.852 52.109.560.740 Indonesia
PT Medco Ratch Power Riau 47.844.360.002 55.311.413.962 PT Medco Ratch Power Riau
PT Medco Cahaya Geothermal 44.651.179.967 67.993.328.490 PT Medco Cahaya Geothermal
PT Medco Energi Menamas 14.914.003.822 9.332.225.232 PT Medco Energi Menamas
PT Universal Batam Energy 13.343.322.297 27.983.782.709 PT Universal Batam Energy
PT Medco General Power PT Medco General Power
Services 3.881.866.859 (16.811.402.322) Services
PT Medco Geothermal Sarulla 21.748.493 20.863.240 PT Medco Geothermal Sarulla
PT Muara Enim Multi Power 4.143.262 4.069.407 PT Muara Enim Multi Power
PT Indo Medco Power 257 254 PT Indo Medco Power
PT Dalle Panaran - (39.790) PT Dalle Panaran
PT Nawakara Energi Sumpur (167.469.389) (13.509.983) PT Nawakara Energi Sumpur
PT Energi Prima Elektrika (325.419.500) (569.637.500) PT Energi Prima Elektrika
PT Medco Solar Bali Barat (555.374.870) (2.525.975.173) PT Medco Solar Bali Barat
PT Multidaya Prima Elektrindo (845.958.792) (271.901.053) PT Multidaya Prima Elektrindo
PT Medcosolar Bali Timur (1.304.194.250) 296.039.307 PT Medcosolar Bali Timur
PT Dalle Energy Batam (8.956.068.736) (8.245.380.957) PT Dalle Energy Batam
PT Sangsaka Agro Lestari (13.179.825.191) (5.015.391.621) PT Sangsaka Agro Lestari
Total 154.543.666.083 179.598.044.942 Total
c. Rincian kepentingan non-pengendali atas total c. The details of the non-controlling interests in
penghasilan komprehensif entitas anak untuk total comprehensive income of Subsidiaries for
tahun yang berakhir pada tanggal 31 the year ended December 31, 2024 and 2023
Desember 2024 dan 2023 adalah sebagai are as follows:
berikut:
2024 2023
PT Medco Ratch Power Riau 111.182.982.707 25.246.867.170 PT Medco Ratch Power Riau
PT Medco Cahaya Geothermal 66.794.477.972 60.721.232.461 PT Medco Cahaya Geothermal
PT Medco Kansai Power PT Medco Kansai Power
Indonesia 55.217.351.853 52.109.560.769 Indonesia
PT Universal Batam Energy 32.575.062.962 24.918.726.167 PT Universal Batam Energy
PT Medco Energi Menamas 14.712.089.336 8.901.063.180 PT Medco Energi Menamas
PT Medco General Power PT Medco General Power
Services 4.089.203.798 (17.126.210.603) Services
PT Multidaya Prima Elektrindo 2.356.126.834 (1.615.127.685) PT Multidaya Prima Elektrindo
PT Energi Prima Elektrika 1.756.708.649 (1.626.296.473) PT Energi Prima Elektrika
PT Medco Geothermal Sarulla 198.331.563 (22.249.076) PT Medco Geothermal Sarulla
PT Muara Enim Multi Power 4.143.262 4.069.407 PT Muara Enim Multi Power
PT Indo Medco Power 257 254 PT Indo Medco Power
PT Dalle Panaran - (39.790) PT Dalle Panaran
PT Nawakara Energi Sumpur (167.469.389) (13.509.983) PT Nawakara Energi Sumpur
PT Medco Solar Bali Barat (555.374.870) (2.525.975.173) PT Medco Solar Bali Barat
PT Medcosolar Bali Timur (1.253.267.573) 296.039.308 PT Medcosolar Bali Timur
PT Dalle Energy Batam (8.956.068.737) (8.245.380.957) PT Dalle Energy Batam
PT Sangsaka Agro Lestari (13.165.760.387) (4.982.364.393) PT Sangsaka Agro Lestari
Total 264.788.538.237 136.040.404.583 Total
119
Page 286
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30 KEPENTINGAN NON-PENGENDALI (lanjutan) 30 NON-CONTROLLING INTEREST (continued)
d. Proporsi kepemilikan saham yang dipegang d. Proportion of equity interest held by non-
oleh kepentingan non-pengendali adalah controlling interest are as follows:
sebagai berikut:
2024 2023
PT Medcosolar Bali Timur 49,00 % 49,00 % PT Medcosolar Bali Timur
PT Medco Solar Bali Barat 49,00 % 49,00 % PT Medco Solar Bali Barat
PT Medco Ratch Power Riau 49,00 % 49,00 % PT Medco Ratch Power Riau
PT Medco Cahaya Geothermal 49,00 % 49,00 % PT Medco Cahaya Geothermal
PT Medco Kansai Power PT Medco Kansai Power
Indonesia 40,00 % 40,00 % Indonesia
PT Universal Batam Energy 30,00 % 30,00 % PT Universal Batam Energy
PT Sangsaka Agro Lestari 30,00 % 30,00 % PT Sangsaka Agro Lestari
PT Dalle Energy Batam 20,01 % 20,01 % PT Dalle Energy Batam
PT Muara Enim Multi Power 20,00 % 20,00 % PT Muara Enim Multi Power
PT Nawakara Energi Sumpur 20,00 % 20,00 % PT Nawakara Energi Sumpur
PT Multidaya Prima Elektrindo 15,00 % 15,00 % PT Multidaya Prima Elektrindo
PT Energi Prima Elektrika 7,50 % 7,50 % PT Energi Prima Elektrika
PT Dalle Panaran 0,99 % 0,99 % PT Dalle Panaran
PT Medco General Power PT Medco General Power
Services 0,40 % 0,40 % Services
PT Medco Geothermal Sarulla 0,04 % 0,04 % PT Medco Geothermal Sarulla
PT Indo Medco Power 0,02 % 0,02 % PT Indo Medco Power
PT Medco Energi Menamas 0,01 % 0,01 % PT Medco Energi Menamas
PT Medco Geothermal PT Medco Geothermal
Indonesia 0,01 % 0,01 % Indonesia
PT Medco Ratch Power Riau (“MRPR”) PT Medco Ratch Power Riau (“MRPR”)
Porsi kepentingan non-pengendali pada MRPR The portion of equity interest held by non-
adalah sebesar 49%. controlling interest in MRPR is 49%.
Ringkasan informasi keuangan MRPR disajikan di The summarized financial information of MRPR is
bawah ini, sebelum eliminasi antar perusahaan. provided below, before intercompany elimination.
Ringkasan laporan posisi keuangan Summarized statement of financial position
2024 2023
Aset Lancar 935.220.881.837 1.037.702.589.240 Current Assets
Aset Tidak Lancar 4.977.905.922.013 4.829.378.627.055 Non-current Assets
Liabilitas Jangka Pendek 358.798.102.990 344.870.868.895 Current Liabilities
Liabilitas Jangka Panjang 3.371.591.498.689 3.896.916.412.888 Non-current Liabilities
120
Page 287
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30 KEPENTINGAN NON-PENGENDALI (lanjutan) 30 NON-CONTROLLING INTEREST (continued)
PT Medco Ratch Power Riau (“MRPR”) PT Medco Ratch Power Riau (“MRPR”)
(lanjutan) (continued)
Ringkasan laporan laba rugi dan penghasilan Summarized statement of profit or loss and other
komprehensif lain: comprehensive income:
2024 2023
Pendapatan 507.846.700.715 498.420.374.992 Revenues
Beban pokok pendapatan (85.710.635.676) (73.389.574.653) Cost of revenues
Laba kotor 422.136.065.039 425.030.800.339 Gross profit
Beban operasi (92.042.501.821) (76.610.719.396) Operating expenses
Beban pendanaan (216.585.165.728) (204.369.964.716) Finance costs
Lain-lain 8.698.520.830 580.393.280 Others
LABA SEBELUM BEBAN PAJAK PROFIT BEFORE INCOME TAX
PENGHASILAN 122.206.918.320 144.630.509.507 EXPENSE
Beban pajak penghasilan (24.565.367.296) (31.750.072.775) Income tax expense
LABA TAHUN BERJALAN 97.641.551.024 112.880.436.732 PROFIT FOR THE YEAR
Penghasilan (beban) komprehensif Other comprehensive income
lain 84.750.992.528 (55.023.595.627) (loss)
JUMLAH PENGHASILAN
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN 182.392.543.552 57.856.841.105 INCOME FOR THE YEAR
Laba tahun berjalan yang
diatribusikan kepada: Profit for the year attributable to:
Kepentingan non-pengendali 47.844.360.002 55.311.413.962 Non-controlling interests
Laba komprehensif tahun berjalan Total comprehensive income for
yang diatribusikan kepada: the year attributable to:
Kepentingan non-pengendali 89.372.346.340 25.246.867.170 Non-controlling interests
Ringkasan laporan arus kas Summarized statement of cash flows
2024 2023
Arus kas diperoleh dari aktivitas Cash flows provided by operating
operasi 234.410.216.317 299.863.315.162 activities
Arus kas diperoleh dari aktivitas Cash flows provided by investing
investasi 9.435.266.401 4.836.250.089 activities
Arus kas digunakan untuk aktivitas Cash flows used in financing
pendanaan (478.439.248.815) (310.746.247.112) activities
Penurunan neto kas dan setara Net decrease in cash and cash
kas (234.593.766.097) (6.046.681.861) equivalents
Perbedaan nilai tukar neto 6.057.691.391 (3.607.628.356) Net foreign exchange differences
Cash and cash equivalents at
Kas dan setara kas awal tahun 247.998.746.550 257.653.056.767 beginning of year
Cash and cash equivalents at
Kas dan setara kas akhir tahun 19.462.671.844 247.998.746.550 end of year
121
Page 288
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued)
PT Medco Kansai Power Indonesia (“MKPI”) PT Medco Kansai Power Indonesia (“MKPI”)
Porsi kepentingan non-pengendali pada MKPI The portion of equity interest held by non-
adalah sebesar 40%. controlling interest in MKPI is 40%.
Ringkasan informasi keuangan MKPI disajikan di The summarized financial information of MKPI is
bawah ini, sebelum eliminasi antar perusahaan. provided below, before intercompany elimination.
Ringkasan laporan posisi keuangan Summarized statement of financial position
2024 2023
Aset Lancar 1.976.240.514.305 1.905.170.275.450 Current Assets
Aset Tidak Lancar 2.404.149.034.013 1.838.264.158.042 Non-current Assets
Liabilitas Jangka Pendek 624.418.576.806 338.636.459.917 Current Liabilities
Liabilitas Jangka Panjang 997.711.446.042 798.862.207.306 Non-current Liabilities
Ringkasan laporan laba rugi dan penghasilan Summarized statement of profit or loss and other
komprehensif lain: comprehensive income:
2024 2023
Pendapatan 1.224.588.488.310 1.236.640.253.813 Revenues
Beban pokok pendapatan (789.627.049.143) (808.555.921.251) Cost of revenues
Laba kotor 434.961.439.167 428.084.332.562 Gross profit
Beban operasi (295.490.803.436) (288.537.417.180) Operating expenses
Beban pendanaan (40.789.272.824) (51.351.206.448) Finance costs
Lain-lain 102.861.427.069 115.946.733.966 Others
LABA SEBELUM BEBAN PAJAK PROFIT BEFORE INCOME TAX
PENGHASILAN 201.542.789.976 204.142.442.900 EXPENSE
Beban pajak penghasilan (31.587.523.481) (52.821.322.963) Income tax expense
LABA TAHUN BERJALAN 169.955.266.495 151.321.119.937 PROFIT FOR THE YEAR
Penghasilan (beban) komprehensif Other comprehensive income
lain 31.453.097.440 (10.613.639.653) (loss)
JUMLAH PENGHASILAN
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN 201.408.363.935 140.707.480.284 INCOME FOR THE YEAR
Laba tahun berjalan yang
diatribusikan kepada: Profit for the year attributable to:
Kepentingan non-pengendali 39.271.419.582 52.109.560.740 Non-controlling interests
Laba komprehensif tahun berjalan Total comprehensive income for
yang diatribusikan kepada: the year attributable to:
Kepentingan non-pengendali 39.271.419.582 52.109.560.769 Non-controlling interests
122
Page 289
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued)
PT Medco Kansai Power Indonesia (“MKPI”) PT Medco Kansai Power Indonesia (“MKPI”)
(lanjutan) (continued)
Ringkasan laporan arus kas Summarized statement of cash flows
2024 2023
Arus kas diperoleh dari aktivitas Cash flows provided by operating
operasi 453.927.821.020 389.007.117.319 activities
Arus kas digunakan untuk aktivitas Cash flows used in investing
investasi (195.885.462.796) (232.363.443.835) activities
Arus kas digunakan untuk aktivitas Cash flows used in financing
pendanaan (169.972.597.611) (374.292.710.608) activities
Kenaikan (penurunan) neto kas Net increase (decrease) in cash
dan setara kas 88.069.760.613 (217.649.037.124) and cash equivalents
Perbedaan nilai tukar neto 3.213.631.133 (71.542.390.136) Net foreign exchange differences
Cash and cash equivalents at
Kas dan setara kas awal tahun 1.220.810.060.496 1.510.001.487.756 beginning of year
Cash and cash equivalents at
Kas dan setara kas akhir tahun 1.312.093.452.242 1.220.810.060.496 end of year
PT Medco Cahaya Geothermal (“MCG”) PT Medco Cahaya Geothermal (“MCG”)
Porsi kepentingan non-pengendali pada MCG The portion of equity interest held by non-
adalah sebesar 49%. controlling interest in MCG is 49%.
Ringkasan informasi keuangan MCG disajikan di The summarized financial information of MCG is
bawah ini, sebelum eliminasi antar perusahaan. provided below, before intercompany elimination.
Ringkasan laporan posisi keuangan Summarized statement of financial position
2024 2023
Aset Lancar 163.191.901.089 62.976.905.311 Current Assets
Aset Tidak Lancar 4.027.677.940.493 2.578.533.376.186 Non-current Assets
Liabilitas Jangka Pendek 1.427.027.830.177 1.296.745.169.620 Current Liabilities
Liabilitas Jangka Panjang 1.734.584.276.449 52.432.147.978 Non-current Liabilities
123
Page 290
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
30. KEPENTINGAN NON-PENGENDALI (lanjutan) 30. NON-CONTROLLING INTEREST (continued)
PT Medco Cahaya Geothermal (“MCG”) PT Medco Cahaya Geothermal (“MCG”)
(lanjutan) (continued)
Ringkasan laporan laba rugi dan penghasilan Summarized statement of profit or loss and other
komprehensif lain: comprehensive income:
2024 2023
Pendapatan 1.307.143.866.887 2.551.116.714.340 Revenues
Beban pokok pendapatan (1.039.541.489.452) (2.308.711.949.334) Cost of revenues
Laba kotor 267.602.377.435 242.404.765.006 Gross profit
Beban operasi (30.921.240.061) (22.073.769.447) Operating expenses
Beban pendanaan (133.915.504.010) (35.114.319.126) Finance costs
Lain-lain 19.207.354.078 5.429.854.937 Others
LABA SEBELUM BEBAN PAJAK PROFIT BEFORE INCOME TAX
PENGHASILAN 121.972.987.442 190.646.531.370 EXPENSE
Beban pajak penghasilan (30.848.131.987) (51.884.562.624) Income tax expense
LABA TAHUN BERJALAN 91.124.855.455 138.761.968.746 PROFIT FOR THE YEAR
Penghasilan (beban) komprehensif Other comprehensive income
lain 44.881.245.766 (14.633.205.724) (loss)
JUMLAH PENGHASILAN
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN 136.006.101.221 124.128.763.022 INCOME FOR THE YEAR
Laba tahun berjalan yang
diatribusikan kepada: Profit for the year attributable to:
Kepentingan non-pengendali 44.651.179.173 67.993.328.490 Non-controlling interests
Laba komprehensif tahun berjalan Total comprehensive income for
yang diatribusikan kepada: the year attributable to:
Kepentingan non-pengendali 66.642.989.598 60.721.232.461 Non-controlling interests
Ringkasan laporan arus kas Summarized statement of cash flows
2024 2023
Arus kas digunakan untuk aktivitas Cash flows used in operating
operasi (78.253.279.697) (33.971.805.559) activities
Arus kas digunakan untuk aktivitas Cash flows used in investing
investasi (139.418.288.764) (235.511.488.003) activities
Arus kas diperoleh dari aktivitas Cash flows provided by financing
pendanaan 308.837.219.086 328.291.735.938 activities
Net increase in cash and cash
Kenaikan neto kas dan setara kas 91.165.650.625 58.808.442.376 equivalents
Perbedaan nilai tukar neto (2.972.847.599) 589.574.017 Net foreign exchange differences
Cash and cash equivalents at
Kas dan setara kas awal tahun 60.301.384.799 903.368.406 beginning of year
Cash and cash equivalents at
Kas dan setara kas akhir tahun 148.494.187.825 60.301.384.799 end of year
Lain-lain Others
Pada tahun 2024 dan 2023, beberapa entitas anak In 2024 and 2023, certain subsidiaries of PT Medco
PT Medco Power Indonesia membayarkan dividen Power Indonesia paid dividends for the year 2023
untuk tahun 2023 dan 2022, dimana dividen and 2022 whereby dividends equivalent to
masing-masing setara dengan Rp92.825.729.528 Rp92,825,729,528 and Rp66,511,962,000 were
dan Rp66.511.962.000 telah dibayarkan kepada paid to non-controlling interest.
pihak non-pengendali.
124
Page 291
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
31. EKUITAS 31. EQUITY
Modal Saham Capital Stock
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the
komposisi pemegang saham dan kepemilikannya shareholders and their respective share ownership
adalah sebagai berikut: are as follows:
Persentase Modal ditempatkan
kepemilikan/ dan disetor penuh/
Total Saham/ Percentage of Subscribed and fully
Pemegang Saham Number of shares ownership (%) paid Capital Shareholders
PT Medco Power 561.000.000 51 % 561.000.000.000 PT Medco Power
Internasional Internasional
PT Medco Energi 539.000.000 49 % 539.000.000.000 PT Medco Energi
Internasional Tbk Internasional Tbk
Total 1.100.000.000 100 % 1.100.000.000.000 Total
Tambahan modal disetor Additional paid-in capital
Akun ini merupakan selisih lebih kas yang diterima This account represents the excess of cash
dari penerbitan saham dengan total nilai nominal received from the issuance of shares of stock over
saham yang diterbitkan dan selisih transaksi the total nominal value of the shares issued and
dengan entitas sepengendali difference in transaction with entity under common
control
Cadangan umum General reserve
Dalam Rapat Umum Pemegang Saham Tahunan During the Annual General Meeting of
pada tanggal 29 Juni 2022 yang dinyatakan dalam Shareholders dated June 29, 2022 covered by
Akta Notaris Michael Suryono Halim. S.H., M.Kn., Michael Suryono Halim. S.H., M.Kn., No. 11 dated
No. 11 bertanggal 29 Juni 2022, para pemegang June 29, 2022, the shareholders approved the
saham menyetujui penyisihan cadangan umum appropriation of general reserve amounting to
sebesar Rp220.000.000.000. Rp220,000,000,000.
Selisih transaksi dengan pihak non-pengendali Difference in transactions with non-controlling
interest
2024 2023
Penjualan 49% kepemilikan di Divestment of 49% ownership in
MGeoPS 277.174.053.683 277.174.053.683 MGeoPS
Penambahan 48,9% kepemilikan di
MGPS, 7,5% kepemilikan di Additional 48.9% ownership in
EPE dan 22,32% kepemilikan di MGPS, 7.5% ownership in EPE
DEB (168.805.220.412) (168.805.220.412) and 22.32% ownership in DEB
Penjualan 49% kepemilikan di Divestment of 49% ownership in
MCG 13.550.910.922 13.550.910.922 MCG
Transaksi divestasi dengan KEPTI 721.128.317.691 721.128.317.691 Divestment transaction with KEPTI
Lain-lain 2.968.997.527 2.968.997.527 Others
Total 846.017.059.411 846.017.059.411 Total
125
Page 292
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
32. PENDAPATAN USAHA 32. REVENUES
Rincian pendapatan usaha adalah sebagai berikut: The details of revenues are as follows:
2024 2023
Pendapatan konstruksi (Catatan
13) 1.277.391.832.748 2.494.068.005.247 Construction revenue (Note 13)
Pendapatan penjualan listrik 745.542.298.976 746.702.515.524 Sales of electric power
Pendapatan keuangan dari konsesi Finance income from service
jasa (Catatan 13) 599.131.107.411 477.094.119.156 concession (Note 13)
Operation and maintenance
Jasa operasi dan pemeliharaan 461.939.857.494 389.170.940.008 services
Pendapatan dari sewa pembangkit Income from lease of electric
listrik 187.296.679.995 214.539.113.340 power plant
Total 3.271.301.776.624 4.321.574.693.275 Total
Rincian pendapatan dari pelanggan yang melebihi The details of revenues from customers which
10% dari total pendapatan usaha berasal dari: exceeded 10% of the total revenues, are as follows:
2024 2023
Pendapatan/ Pendapatan/
Revenues % Revenues %
PT PLN (Persero) 2.014.630.237.185 62 3.080.295.666.130 71 PT PLN (Persero)
PT PLN Batam 660.312.562.419 20 698.423.338.557 16 PT PLN Batam
PT PLN Pembangkitan PT PLN Pembangkitan
Tanjung Jati B 288.695.694.445 9 267.989.663.514 6 Tanjung Jati B
Total 2.963.638.494.049 91 4.046.708.668.201 93 Total
33. BEBAN POKOK PENDAPATAN 33. COST OF REVENUES
Rincian beban pokok pendapatan adalah sebagai The details of cost of revenues are as follows:
berikut:
2024 2023
Beban konstruksi 1.202.076.565.697 2.338.427.710.912 Construction costs
Beban pembelian gas 429.035.697.184 449.040.764.475 Cost of gas
Gaji dan tunjangan pegawai 115.318.541.861 95.936.225.502 Salaries and employee benefits
Beban pemeliharaan 101.982.019.295 94.142.212.426 Maintenance costs
Penyusutan (Catatan 18) 93.219.319.628 88.501.881.979 Depreciation (Note 18)
Management and technical
Manajemen dan dukungan teknis 81.382.502.817 80.277.995.270 support
Barang habis pakai (Catatan 9) 53.948.042.894 55.331.582.746 Consumables (Note 9)
Sewa peralatan 544.675.000 923.746.064 Rental of equipment
Total 2.077.507.364.376 3.202.582.119.374 Total
Rincian pembelian dari penyedia yang melebihi The details of purchases from vendors which
10% dari total pendapatan yang usaha dari: exceeded 10% of the total revenues, are as follows:
2024 2023
Pembelian/ Pembelian/
Purchase % Purchase %
PT PGN (Persero) Tbk 341.499.150.835 10 363.930.182.735 8 PT PGN (Persero) Tbk
Total 341.499.150.835 10 363.930.182.735 8 Total
126
Page 293
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
34. BEBAN OPERASIONAL 34. OPERATING EXPENSES
Rincian akun ini terdiri dari: This account consists:
2024 2023
Gaji dan tunjangan karyawan 310.119.504.625 284.155.509.462 Salaries and employee benefits
Asuransi 53.032.042.171 46.792.721.937 Insurance
Penyusutan (Catatan 14 dan 18) 41.964.148.830 38.492.221.382 Depreciation (Notes 14 and 18)
Jasa profesional 32.903.751.155 39.088.826.200 Professional fees
Denda kontrak 28.198.257.131 13.146.550.512 Contract penalties
Beban kantor dan pembangkit
listrik 26.764.191.128 35.967.137.794 Office and power plant expenses
Keamanan 20.895.012.845 20.703.680.586 Security
Perjalanan 18.314.242.794 14.149.453.636 Traveling
Sewa 17.303.753.170 13.220.283.449 Rental
Pelatihan dan seminar 9.817.336.762 9.206.818.760 Training and seminars
Biaya perizinan 7.663.847.743 5.212.602.171 Admission fee
Transportasi 7.530.777.713 7.920.393.233 Transportation
Jasa kebersihan 7.525.997.479 6.070.231.255 Cleaning service
Amortisasi atas aset takberwujud Amortization of intangible assets
(Catatan 17) 3.593.585.502 3.984.385.056 (Note 17)
Pemeliharaan 3.353.207.377 4.424.490.291 Maintenance
Jasa manajemen 3.138.826.723 4.078.110.079 Management fee
Sumbangan dan iuran 2.564.596.655 4.936.724.186 Donations and contributions
Representasi dan jamuan 1.781.052.209 3.577.072.015 Representation and entertainment
Lain-lain 13.699.515.492 9.259.833.155 Others
Total 610.163.647.504 564.387.045.159 Total
35. PENDAPATAN LAIN-LAIN 35. OTHER INCOME
Rincian pendapatan lain-lain adalah: The details of other income are as follows:
2024 2023
Keuntungan selisih kurs - neto 83.776.900.303 - Gain on foreign exchange - net
Bagian laba dari entitas ventura Share in net gain of joint venture
bersama (Catatan 15) 43.602.207.842 40.441.346.788 (Note 15)
Pengembalian atas klaim asuransi 37.181.212.260 8.273.809.517 Insurance claims reimbursements
Kompensasi penyelesaian tuntutan Compensation on lawsuit
hukum - 77.389.399.990 settlement
Keuntungan pelepasan investasi Gain on disposal of investment in
atas saham - 32.328.311.862 shares
Gain on sales of property, plant
Keuntungan penjualan aset tetap 151.754.970 8.232.082.690 and equipment
Lain-lain (masing-masing di bawah Others (each below
Rp500.000.000) 2.693.916.676 13.114.450.214 Rp500,000,000)
Total 167.405.992.051 179.779.401.061 Total
Kompensasi penyelesaian tuntutan hukum Compensation of lawsuit settlement represents
merupakan kompensasi yang dibayarkan oleh PLN compensation paid by PLN Batam to ELB in
Batam kepada ELB sehubungan dengan perjanjian connection with the settlement and implementation
penyelesaian dan pelaksanaan putusan Mahkamah agreement of the Supreme Court decision on the
Agung atas keputusan Badan Arbitrase Nasional Indonesia National Board of Arbitration (“BANI”)
Indonesia (“BANI”) pada gugatan ELB ke PLN decision for ELB’s claim due to an alleged breach
Batam atas pelanggaran kontrak perjanjian of the power purchase agreement by PLN Batam.
pembelian listrik oleh PLN Batam.
127
Page 294
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
36. BEBAN LAIN-LAIN 36. OTHER EXPENSES
Rincian beban lain-lain adalah: The details of other expenses are as follows:
2024 2023
Kerugian piutang sewa
pembiayaan yang tidak tertagih Loss for uncollected finance lease
(Catatan 11) 132.929.790.599 20.003.131.120 receivables (Note 11)
Loss on disposal of property, plant
Kerugian penghapusan aset tetap 12.391.325.981 - and equipment
Kekurangan bayar biaya gas masa
lalu 9.558.836.889 - Underpayment of past gas cost
Kerugian penurunan nilai goodwill Loss on impairment goodwill
(Catatan 17) 7.300.000.000 - (Note 17)
Kerugian penurunan nilai perizinan Loss on impairment licenses
(Catatan 17) 7.133.047.720 - (Note 17)
Kerugian selisih kurs - neto - 21.379.189.005 Loss on foreign exchange - net
Lain-lain 2.596.648.918 1.977.601.985 Others
Total 171.909.650.107 43.359.922.110 Total
37. BEBAN PENDANAAN 37. FINANCE COSTS
Rincian beban pendanaan adalah: The details of finance costs are as follows:
2024 2023
Beban bunga pinjaman 329.313.259.453 342.124.368.740 Loan interest expense
Beban bunga obligasi dan sukuk Bonds and sukuk wakalah interest
wakalah 195.292.837.291 153.498.975.004 expense
Biaya bank garansi 155.165.655.102 89.859.368.107 Bank guarantee fees
Beban pendanaan lainnya 7.083.694.701 7.250.880.240 Other financing costs
Total 686.855.446.547 592.733.592.091 Total
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN AND COMMITMENTS
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: agreement as follows:
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Date of Agreement Commitment Contract Period
PT Bio Jatropha Indonesia
PT PLN (Persero) 1 Februari 2012; BJI mengoperasikan pembangkit listrik tenaga 15 tahun setelah Tanggal
Unit Induk Distribusi terakhir diubah pada mini-hidro 3x3 MW pada aliran Sungai Operasi Komersial ("COD")
Jawa Barat tanggal 28 Agustus Cibalapulang, yang berlokasi di Cianjur, Jawa (sampai dengan September
2017/ Barat. PT PLN UIDJB setuju untuk membayar 2032)
February 1, 2012; listrik kepada Perusahaan sesuai harga yang
last amendment disepakati para pihak. 15 years after Commercial
dated August 28, Operating Date ("COD")
2017 BJI operates a 3x3 MW mini-hydro power (until September 2032)
plant on the flow of Cibalapulang River,
located in Cianjur, West Java. PT PLN UIDJB
agreed to pay the electricity to the Company
at the agreed price by the parties.
128
Page 295
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreement as follows: (continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued)
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Date of Agreement Commitment Contract Period
PT Dalle Energy Batam
PT PLN Batam 20 Mei 2005; DEB diharuskan untuk mendanai, 15 tahun dari 25 Maret 2010
terakhir diubah pada membangun dan mengoperasikan 2 unit Gas (sampai dengan 24 Maret
tanggal 27 Juli 2018/ Turbin Generator dengan chiller ("SCPP") 2025)
May 20, 2005; last serta steam turbine generator ("CCPP"). PT
amendment dated PLN Batam setuju untuk membayar listrik 15 years from March 25,
July 27, 2018 kepada Perusahaan sesuai harga yang 2010 (until March 24, 2025)
disepakati Para Pihak.
DEB is required to fund, operate and maintain
2 units of Gas Turbine Generator with chiller
("SCPP") and steam turbine generator
("CCPP"). PT PLN Batam agreed to pay the
electricity to the Company at the agreed price
by the Parties.
PT Energi Listrik Batam
PT PLN Batam 15 Oktober 2012; ELB mengoperasikan pembangkit listrik 2x35 20 tahun dari tanggal
terakhir diubah padaMW. PT PLN Batam setuju untuk membayar operasi komersial Unit
tanggal listrik kepada Perusahaan sesuai harga yang CCPP yang dijadwalkan
21 Juli 2023 disepakati Para Pihak. PT PLN Batam pada kuartal terakhir tahun
memiliki opsi untuk membeli kepemilikan dan 2025.
October 15, 2012; kepentingan ELB dalam proyek tersebut
last amendment selama masa Perjanjian Pembelian Tenaga 20 years from the date of
dated July 21, 2023 Listrik. comercial operation of
CCPP Unit which is
Pada tanggal 21 Juli 2023, Para Pihak scheduled at the last quarter
menandatangani Amandemen IV mengenai of 2025.
perubahan skema pembangkit dari Simple
Cycle Power Plant (“SCPP”) menjadi
Combined Cycle Gas Power Plant (“CCPP”)
dengan menambah unit baru berkapasitas 39
MW, sehingga total kapasitas menjadi 109
MW. Perjanjian tersebut berlaku efektif pada
Agustus 2023.
ELB operates 2x35 MW power plant. PT PLN
Batam agreed to pay the electricity to the
Company at the agreed price by the Parties.
PT PLN Batam has the option to purchase
ELB’s ownership and interest in the project
anytime during the term of the Power
Purchase Agreement.
On July 21 2023, the Parties signed
Amendment IV regarding the changes of
electricity generation scheme from Simple
Cycle Power Plant (“SCPP”) to Combined
Cycle Gas Power Plant (“CCPP”) by adding a
new unit with a capacity of 39 MW, bringing
the total capacity to 109 MW . The agreement
is effective in August 2023.
129
Page 296
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreement as follows: (continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued)
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Date of Agreement Commitment Contract Period
PT Energi Prima Elektrika
PT Prima Layanan 10 November 2004; Semua hak dan kewajiban PT PLN-E 20 tahun dengan
Nasional Enjiniring terakhir diubah pada berdasarkan Perjanjian Pembelian Tenaga perpanjangan tahunan atas
("PT PLN-E") dan PT tanggal 3 September Listrik yang ditandatangani antara PT PLN- persetujuan kedua belah
PLN (Persero) Unit 2024/November 10, E dan PT PLN UIWS2JB dialihkan ke EPE. pihak (sampai dengan Juni
Induk Wilayah 2004; last EPE diharuskan mendanai, membangun 2026)
Sumatera Selatan, amendment dated dan mengoperasikan proyek Generator
Jambi dan Bengkulu September 3, 2024 Mesin Gas (“GMG”). PT PLN UIWS2JB 20 years subject to annual
("PT PLN setuju untuk membayar listrik kepada extension upon approval by
UIWS2JB") Perusahaan sesuai harga yang disepakati both parties (until June
Para Pihak. 2026)
All rights and obligations of PT PLN-E
under the Power Purchase Agreement
entered into between PT PLN-E and PT
PLN UIWS2JB were transferred to EPE.
EPE is required to fund, establish and
operate the Gas Engine Generator (“GEG”).
PT PLN UIWS2JB agreed to pay the
electricity to the Company at the agreed
price by the Parties.
PT Medco Cahaya Geothermal
PT PLN (Persero) 27 Februari 2013; MCG membangun, memiliki dan 30 tahun setelah COD
terakhir diubah pada mengoperasikan pembangkit listrik tenaga
tanggal panas bumi 2x55 MW dengan kapasitas 30 years after COD
9 Desember 2022/ minimal 30 MW. PT PLN (Persero) setuju
February 27, 2013; untuk membayar listrik kepada Perusahaan
last amendment sesuai harga yang disepakati Para Pihak.
dated December 9,
2022 MCG constructs, owns and operates a 2x55
MW geothermal power plant with minimum
capacity of 30 MW. PT PLN (Persero)
agreed to pay the electricity to the
Company at the agreed price by the
Parties.
PT Medco Ratch Power Riau
PT PLN (Persero) 7 April 2017; Terakhir MRPR mengoperasikan pembangkit listrik 20 tahun setelah COD
diubah tanggal 20 tenaga gas berkapasitas 275 MW. PT PLN (sampai Februari 2042)
Desember 2019/ (Persero) setuju untuk membayar listrik
April 7, 2017; Last kepada Perusahaan sesuai harga yang 20 years after COD (until
amendment dated disepakati Para Pihak. February 2042)
December 20, 2019
MRPR operates 275 MW gas fired power
plant. PT PLN (Persero) agreed to pay the
electricity to the Company at the agreed
price by the Parties.
PT Medco Solar Bali Barat
PT PLN (Persero) 24 Maret 2022; MSBB telah menandatangani Perjanjian 20 tahun setelah COD
terakhir diubah Jual Beli Tenaga Listrik ("PJBTL") dengan
tanggal 17 PT PLN (Persero) untuk pengoperasian 20 years after COD
Desember 2024/ Pembangkit Listrik Tenaga Surya
March 24, 2022; last Fotovoltaik berkapasitas 25 MWp yang
amendment dated berlokasi di provinsi Bali bagian Barat. PT
December 17, 2024 PLN (Persero) setuju untuk membayar
listrik kepada Perusahaan sesuai harga
yang disepakati Para Pihak.
MSBB has entered into a Power Purchase
Agreement ("PPA") with PT PLN (Persero)
for the Solar Photovoltaic Power Plant
facility with an installed capacity 25 MWp
located at Western Bali. PT PLN (Persero)
agreed to pay the electricity to the
Company at the agreed price by the
Parties.
130
Page 297
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreement as follows: (continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued)
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Date of Agreement Commitment Contract Period
PT Medcosolar Bali Timur
PT PLN (Persero) 24 Maret 2022; MSBT telah menandatangani Perjanjian 20 tahun setelah COD
terakhir diubah Jual Beli Tenaga Listrik ("PJBTL") dengan
tanggal 17 PT PLN (Persero) untuk pengoperasian 20 years after COD
Desember 2024/ Pembangkit Listrik Tenaga Surya
March 24, 2022; last Fotovoltaik berkapasitas 25 MWp yang
amendment dated berlokasi di provinsi Bali bagian Timur. PT
December 17, 2024 PLN (Persero) setuju untuk membayar
listrik kepada Perusahaan sesuai harga
yang disepakati Para Pihak.
MSBT has entered into a Power Purchase
Agreement ("PPA") with PT PLN (Persero)
for the Solar Photovoltaic Power Plant
facility with an installed capacity 25 MWp
located at Eastern Bali. PT PLN (Persero)
agreed to pay the electricity to the
Company at the agreed price by the
Parties.
PT Mitra Energi Batam
PT PLN Batam 29 April 2004; MEB diharuskan untuk mendanai, 20 tahun dari 8 September
terakhir diubah pada mengoperasikan dan memelihara proyek 2 2014 (sampai dengan 7
tanggal 27 Juli 2018/ unit Gas Turbin Generator dengan chiller September 2034)
April 29, 2004; last ("SCPP") serta steam turbine generator
amendment dated ("CCPP"). PT PLN Batam setuju untuk 20 years from September 8,
July 27, 2018 membayar listrik kepada Perusahaan 2014 (until September 7,
sesuai harga yang disepakati Para Pihak. 2034)
MEB is required to fund, operate and
maintain 2 units of Gas Turbine Generator
with chiller ("SCPP") and steam turbine
generator ("CCPP"). PT PLN Batam agreed
to pay the electricity to the Company at the
agreed price by the Parties.
PT Multidaya Prima Elektrindo
PT Prima Layanan 1 Juni 2004; terakhir Semua hak dan kewajiban PT PLN-E 20 tahun dengan
Nasional Enjiniring diubah tanggal 3 berdasarkan Perjanjian Pembelian Tenaga perpanjangan tahunan atas
("PT PLN-E") dan PT September 2024/ Listrik yang ditandatangani antara PT PLN- persetujuan kedua belah
PLN (Persero) Unit June 1, 2004; last E dan PT PLN UIWS2JB dialihkan ke MPE. pihak (sampai dengan Mei
Induk Wilayah amendment dated MPE diminta untuk mendanai, membangun 2028)
Sumatera Selatan, September 3, 2024 dan mengoperasikan proyek Gas Engine
Jambi dan Bengkulu Generator (“GEG”) dengan kapasitas 12 20 years subject to annual
("PT PLN MW. PT PLN UIWS2JB setuju untuk extension upon approval by
UIWS2JB") membayar listrik kepada Perusahaan both parties (until May 2028)
sesuai harga yang disepakati Para Pihak.
All rights and obligations of PT PLN-E
under the Power Purchase Agreement
entered into between PT PLN-E and PT
PLN UIWS2JB were transferred to MPE.
MPE is required to fund, establish and
operate the Gas Engine Generator (“GEG”)
with capacity of 12 MW. PT PLN UIWS2JB
agreed to pay the electricity to the
Company at the agreed price by the
Parties.
131
Page 298
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreement as follows: (continued)
i. Perjanjian Pembelian Tenaga Listrik dan i. Power Purchase and Transfer Agreements
Pengalihan (lanjutan) (continued)
Perusahaan/Entity Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Date of Agreement Commitment Contract Period
PT Pembangkitan Pusaka Parahiangan
PT PLN (Persero) 12 September 2013; PPP mengoperasikan pembangkit listrik 15 tahun setelah COD
Unit Induk Distribusi terakhir diubah pada tenaga mini-hidro 2x4,4 MW pada aliran (sampai dengan Mei 2033)
Jawa Barat ("PT tanggal Sungai Cibuni, yang berlokasi di Cianjur,
PLN UIDJB") 29 Januari 2019/ Jawa Barat. PT PLN UIDJB setuju untuk 15 years after COD (until
September 12, 2013; membayar listrik kepada Perusahaan May 2033)
last amendment sesuai harga yang disepakati Para Pihak.
dated January 29,
2019 PPP operates a 2x4.4 MW mini-hydro
power plant on the flow of Cibuni River,
located in Cianjur, West Java. PT PLN
UIDJB agreed to pay the electricity to the
Company at the agreed price by the
Parties.
ii. Perjanjian Operasi dan Pemeliharaan ii. Operation and Maintenance Agreements
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Medco Geothermal Sarulla
Sarulla Operations, initial Contract Perjanjian operasi dan pemeliharaan Perpanjangan 6 tahun sejak
Ltd. ("SOL") September 29, 2016. dengan SOL untuk Pembangkit Listrik 4 Juli 2024
Amended on 3 Tenaga Panas Bumi Sarulla.
November 2024/ 6 years extension from 4
initial Contract Operation and Maintenance agreement with July 2024
September 29, 2016. SOL for Sarulla Geothermal Power
Amended on 3 Facilities.
November 2024
PT Medco Power Indonesia
PT PLN (Persero) 9 September 2019; Konsorsium 5oC yang terdiri dari MPI dan 5 tahun sejak Tanggal
dan Konsorsium 5oC terakhir diubah pada lainnya telah menandatangani kontrak EPC Operasi Komersial
("IKPT-PP"- tanggal 12 Juli 2024/ dan O&M untuk PLTU Timor 1. (September 2024)
Sumitomo-Itochu- September 9, 2019;
MPI) last amended dated The 5oC Consortium consist of MPI and 5 years from COD
July 12, 2024 others has signed an EPC and O&M (September 2024)
Contract with PT PLN (Persero) for PLTU
Timor.
PT PLN (Persero) 9 September 2019; Konsorsium 5oC yang terdiri dari MPI dan 5 tahun sejak Tanggal
dan Konsorsium 5oC terakhir diubah pada lainnya telah menandatangani kontrak EPC Operasi Komersial
("IKPT-PP"- tanggal 2 Desember dan O&M untuk PLTU Sulut. (perkiraan April 2025)
Sumitomo-Itochu- 2024/September 9,
MPI) 2019; last amended The 5oC Consortium consist of MPI and 5 years from COD
dated December 2, others has signed an EPC and O&M (expected in April 2025)
2024 Contract with PT PLN (Persero) for PLTU
Sulut.
132
Page 299
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreement as follows: (continued)
ii. Perjanjian Operasi dan Pemeliharaan ii. Operation and Maintenance Agreements
(lanjutan) (continued)
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT TJB Power Services
PT PLN (Persero) 9 Juni 2005; terakhir Konsorsium dari PT Medco Energi 24 tahun
diubah pada tanggal Internasional Tbk-Fortum Service Oy
28 Maret 2018/June (Medco Fortum) menandatangani Operation 24 years
9, 2005; last & Maintenance Agreement (O&M
amendment dated Agreement) dengan PLN. Medco Fortum
March 28, 2018 ditunjuk sebagai operator pembangkit listrik
tenaga batu bara berkapasitas 2x660 MW.
Pada tanggal 27 September 2005, Medco
Fortum, MPI dan PLN menandatangani
Amandemen Perjanjian No. 1 untuk O&M
Agreement dimana para pihak sepakat
untuk memasukkan MPI sebagai salah satu
pihak dalam O&M Agreement dan sebagai
operator awal proyek sampai perusahaan
yang bertujuan khusus (“SPC”) untuk
mengoperasikan pembangkit listrik tenaga
tersebut didirikan. Pada tahun 2006, TJBPS
didirikan sebagai SPC.
The Consortium of PT Medco Energi
Internasional Tbk-Fortum Service Oy
(Medco Fortum) signed an Operation &
Maintenance Agreement (O&M Agreement)
with PLN. Medco Fortum is appointed as
the operator of the 2x660 MW coal fired
power station. On September 27, 2005,
Medco Fortum, MPI, and PLN entered into
an amendment and agreed to include MPI
as one of the parties to the O&M
Agreement and the initial operator of the
project until the special purpose company
(“SPC”) to operate the coal fired power
station is established. In 2006, TJBPS was
established as the SPC.
133
Page 300
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreement as follows: (continued)
iii. Perjanjian Jual Beli Gas iii. Gas Sale and Purchase Agreements
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Universal Batam Energy
Premier Oil, Natuna 15 April 2008/ Premier Oil, Natuna 1, Natuna 2 dan 20 tahun
1 BV (“Natuna 1”), April 15, 2008 Natuna setuju untuk menjual dan UBE
Natuna 2 B.V. setuju untuk membeli gas sebesar 20 BBTU 20 years
(“Natuna 2”), dari cadangan yang dilakukan dan dari
KUFPEC Indonesia sumber lain milik penjual gas.
("Natuna") B.V.
Premier Oil, Natuna 1, Natuna 2, and
Natuna agreed to sell and UBE agreed to
purchase gas 20 BBTU from committed
reserves and from other sources of gas
sellers.
PT Energi Prima Elektrika
PT Pertamina EP 30 Mei 2006; PT Pertamina EP setuju untuk 10 tahun kontrak
terakhir diubah pada menyediakan dan mengirimkan gas ke diperpanjang hingga 31
tanggal 18 Desmber pembangkit listrik EPE untuk 2 MMSCF per Desember 2023
2024/May 30, 2006; hari dengan pembelian minimum tahunan
last amendment 80%. Pada tanggal 18 Desember 2024, Saat ini sedang proses
dated December 18, para pihak sepakat untuk merevisi harga perpanjangan kontrak
2024 gas sementara dan melaksanakan hingga berakhir masa
keputusan pemerintah terkait harga gas. berlaku PPA.
PT Pertamina EP agreed to provide and 10 years contract was
deliver gas to EPE’s power plant for 2 extended up to December
MMSCF and minimum annual gas usage of 31, 2023
80%. On December 18, 2024, the parties
agreed to revise the temporary gas price Currently in the process of
and implement the government decision on extending the contract until
gas prices. the end of PPA terms.
PT Multidaya Prima Elektrindo
PT Pertamina EP 30 Mei 2008; PT Pertamina EP setuju untuk memberikan 10 tahun, kontrak
terakhir diubah pada dan mengirimkan gas ke pembangkit listrik diperpanjang hingga 31
tanggal 18 MPE untuk 2 MMSCF per hari dengan Desember 2023
Desember 2024 pembelian minimum tahunan 80%. Pada
tanggal 18 Desember 2024, para pihak Saat ini sedang proses
May 30, 2008; last sepakat untuk merevisi harga gas perpanjangan kontrak
amendment dated sementara dan melaksanakan keputusan hingga berakhir masa
December 18, 2024 pemerintah terkait harga gas. berlaku PPA
PT Pertamina EP agreed to provide and 10 years, contract was
deliver gas to MPE’s power plant for 2 extended up to December
MMSCF and minimum annual gas usage of 31, 2023
80%. On December 18, 2024, the parties
agreed to revise the temporary gas price Currently in the process of
and implement the government decision on extending the contract until
gas prices. the end of PPA terms
134
Page 301
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreement as follows: (continued)
iii. Perjanjian Jual Beli Gas (lanjutan) iii. Gas Sale and Purchase Agreements
(continued)
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Energi Listrik Batam
PT PGN (Persero) 28 Agustus 2020; PT PGN (Persero) Tbk setuju untuk Sampai dengan 31
Tbk terakhir diubah pada memberikan dan mengirimkan gas ke Desember 2028
tanggal 20 pembangkit listrik ELB sebanyak 3.00-3.60
Desember 2024/ BBTU untuk periode sejak tanggal dimulai Up to December 31, 2028
August 28, 2020; sampai dengan 30 November 2022,
last amended dated sebanyak 10,00-12,00 BBTU untuk periode
December 20, 2024 sejak 1 Desember 2022 sampai dengan
beroperasinya Add-On CCPP, dan
sebanyak 15,53-18,64 BBTU dari tanggal
beroperasinya Add-On CCPP sampai
tanggal berakhirnya Perjanjian.
PT PGN (Persero) Tbk agrees to provide
and send gas to the ELB power plant in the
amount of 3.00-3.60 BBTU for the period
from the start date until 30 November 2022,
in the amount of 10.00-12.00 BBTU for the
period from 1 December 2022 until the
operation of Add-On CCPP, and in the
amount of 15.53 -18.64 BBTU from the
operation of Add-On CCPP until the end
date Agreement.
iv. Perjanjian Jasa Kontrak iv. Contractual Service Agreements
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Energi Listrik Batam
PT General Electric 28 Desember 2012/ Perjanjian Jasa Kontrak dengan GEOI di 20 tahun sejak tanggal
Operations December 28, 2012 mana GEOI setuju untuk menyediakan mulai pemeliharaan
Indonesia (“GEOI”) layanan pemeliharaan rutin jangka panjang
untuk mendukung proyek GTG. 20 years from the
maintenance start date
Contractual Service Agreement wit GEOI
whereby GEOI agreed to provide long-term
routine maintenance services to support the
GTG Project.
135
Page 302
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreement as follows: (continued)
iv. Perjanjian Jasa Kontrak (lanjutan) iv. Contractual Service Agreements (continued)
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT TJB Power Services
Konsorsium Fortum 10 Juni 2005; Konsorsium dari PT Medco Energi 24 tahun
Service Oy dan terakhir diubah Internasional Tbk-Fortum Service Oy
Enprima Oy, tanggal 9 Agustus (Medco Fortum) menandatangani Operation 24 years
konsorsium yang 2021/June 10, 2005; & Maintenance Agreement (O&M
didirikan last amendment Agreement) dengan PLN. Medco Fortum
berdasarkan hukum dated August 9, ditunjuk sebagai operator pembangkit listrik
Finlandia (“Penyedia 2021 tenaga batu bara berkapasitas 2x660 MW.
MTS”), Medco- Pada tanggal 27 September 2005, Medco
Fortum (“Operator”), Fortum, MPI dan PLN menandatangani
konsorsium yang Amandemen Perjanjian No. 1 untuk O&M
didirikan Agreement dimana para pihak sepakat
berdasarkan hukum untuk memasukkan MPI sebagai salah satu
Indonesia. / pihak dalam O&M Agreement dan sebagai
The Consortium of operator awal proyek sampai perusahaan
Fortum Service Oy yang bertujuan khusus (“SPC”) untuk
and Enprima Oy, a mengoperasikan pembangkit listrik tenaga
consortium tersebut didirikan. Pada tahun 2006, TJBPS
established under didirikan sebagai SPC.
laws of Finland
(“MTS Providers”), The Consortium of PT Medco Energi
Medco-Fortum Internasional Tbk-Fortum Service Oy
(“Operator”), the (Medco Fortum) signed an Operation &
consortium Maintenance Agreement (O&M Agreement)
established under with PLN. Medco Fortum is appointed as
the laws of the operator of the 2x660 MW coal fired
Indonesia. power station. On September 27, 2005,
Medco Fortum, MPI, and PLN entered into
an amendment and agreed to include MPI
as one of the parties to the O&M
Agreement and the initial operator of the
project until the special purpose company
(“SPC”) to operate the coal fired power
station is established. In 2006, TJBPS was
established as the SPC.
v. Perjanjian Operasi Bersama Proyek Sarulla v. Joint Operation Contract of Sarulla Projects
Geothermal
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Medco Geopower Sarulla
Sarulla Inc 27 Desember 2007/ Melaksanakan Grup Kontraktor 1. 360 bulan dimulai
(“Ormat”), Sarulla December 27, 2007 Pengendalian Bersama (“GKPB”) dengan pada masa produksi
Power Asset Ltd entitas lain untuk proyek Sarulla awal pengiriman
(“Itochu”), Kyuden Geothermal Operation untuk: listrik.
Sarulla Pte. Ltd. 1. Eksplorasi dan eksploitasi 2. 504 bulan sejak
(“Kyuden”) dan/and sumber energi panas bumi; tanggal GKBP.
Sarulla Operations 2. Pembangkit listrik dari sumber
Ltd (“SOL” atau/or daya tersebut; dan 1. 360 months
“Operator”) 3. Penjualan listrik ke PLN. commencing on the
initial production
Joint Operation Contract Group (“JOCG”) period for delivery of
with other entities on Sarulla Geothermal electricity.
Projects for: 2. 504 months from the
1. Exploration and exploitation of effective date for
geothermal energy resources; JOCG.
2. Generate the electricity from
those resources; and
3. Sale of electricity to PLN.
136
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The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreement as follows: (continued)
vi. Perjanjian Teknis, Pengadaan, dan Konstruksi vi. Engineering, Procurement, and Construction
Contract
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Energi Listrik Batam
PT Inti Karya 21 Juli 2023; efektif Pada tanggal 21 Juli 2023, ELB Tidak disebutkan secara
Persada Tehnik per 3 Agustus 2023/ menandatangani Engineering, Procurement spesifik.
Batam ("IKPT July 21, 2023; and Construction Contract dgn IKPT untuk
Batam") effective as of pelaksanaan pekerjaan rekayasa, Not specifically mentioned.
August 3, 2023. pengadaan dan konstruksi Steam Turbine
Generator berkapasitas 39 MW di PLTG
Tanjung Uncang Batam milik ELB.
Perjaniian tersebut berlaku efektif sejak
tanggal 3 Agustus 2023
On July 21, 2023, ELB signed an
Engineering, Procurement and Construction
Contract with IKPT regarding the
engineering, procurement and construction
of Steam Turbine Generator with capacity
39MW. The agreement has been effective
as of August 3, 2023.
PT Medcosolar Bali Timur
PT Tritama Mitra 29 November 2023/ PT Tritama Mitra Lestari sepakat untuk Tidak disebutkan secara
Lestari November 29, 2023 menyediakan pekerjaan awal atas jasa spesifik.
engineering, procurement and construction
activities untuk Bali Solar PV 25 MWp. Not specifically mentioned.
PT Tritama Mitra Lestari agreed to provide
initial work on engineering services,
procurement and construction activities for
Bali Solar PV 25 MWp.
PT Siemens Energy 29 November 2023/ PT Siemens Energy Indonesia sepakat Tidak disebutkan secara
Indonesia November 29, 2023 untuk menyediakan pekerjaan awal atas spesifik.
jasa engineering, procurement and
construction activities untuk Bali Solar PV Not specifically mentioned.
25 MWp.
PT Siemens Energy Indonesia agreed to
provide initial work on engineering services,
procurement and construction activities for
Bali Solar PV 25 MWp.
PT Graha Usaha 29 November 2023/ PT Graha Usaha Teknik sepakat untuk Tidak disebutkan secara
Teknik November 29, 2023 menyediakan pekerjaan awal atas jasa spesifik.
engineering, procurement and construction
activities untuk Bali Solar PV 25 MWp. Not specifically mentioned.
PT Graha Usaha Teknik agreed to provide
initial work on engineering services,
procurement and construction activities for
Bali Solar PV 25 MWp.
137
Page 304
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreement as follows: (continued)
vi. Perjanjian Teknis, Pengadaan, dan Konstruksi vi. Engineering, Procurement, and Construction
(lanjutan) Contract (continued)
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Medco Cahaya Geothermal
Ormat International, 11 Januari 2023/ Ormat International Inc, sepakat untuk Tidak disebutkan secara
Inc. January 11, 2023 melakukan jasa Kontrak Offshore spesifik namun dengan
Equipment Supply untuk MCG dengan target COD awal 2025.
harga kontrak sebesar AS$32,1 juta.
Not specifically mentioned
Ormat International Inc agreed to provide but with target COD in
Offshore Equipment Supply Contract, with beginning 2025.
contract price of US$32.1 million.
Consortium PT Inti 11 Januari 2023/ Konsorsium IKPT-Multifab, sepakat untuk Tidak disebutkan secara
Karya Persada January 11, 2023 melakukan jasa EPCC Onshore untuk MCG spesifik namun dengan
Teknik ("IKPT") - PT dengan harga kontrak sebesar AS$2,2 juta target COD awal 2025.
Multifabrindo + Rp597,44 miliar.
Gemilang ("MFG") Not specifically mentioned
Consortium IKPT - Multifab agreed to but with target COD in
provide EPCC Onshore Contract, with beginning 2025.
contract price of US$2,2 million + Rp597.44
billion.
vii. Kontrak Pengeboran Panas Bumi vii. Geothermal Drilling Contract
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Medco Cahaya Geothermal
PT Exspan Petrogas 11 Januari 2023/ EPI setuju untuk menyediakan jasa Drilling Tidak disebutkan secara
Intranusa (“EPI”) January 11, 2023 Rig pada pengeboran Proyek Ijen dengan spesifik namun dengan
harga kontrak AS$18,48 juta. target penyelesaian Mei
2024.
EPI agreed to provide Drilling rig services
on drilling for the Ijen Project for a contract Not specifically mentioned
price of USD18.48 million. with the target finalization in
May 2024.
PT Halliburton 17 Januari 2023 / Halliburton sepakat untuk menyediakan Tidak disebutkan secara
Logging Services January 17, 2023 jasa operasi pengeboran, perekayasaan spesifik.
Indonesia dan pendukungnya dengan nilai kontrak
(“Halliburton”) sebesar AS$10,7juta Not specifically mentioned.
Halliburton agreed to provide drilling
operations, engineering and support
services for a contract value of
US$10.7million.
PT Scientific Drilling 17 Januari 2023 / SDII sepakat untuk menyediakan jasa Tidak disebutkan secara
International January 17, 2023 operasi pengeboran, perekayasaan dan spesifik.
Indonesia (“SDII”) pendukungnya dengan nilai kontrak
sebesar AS$9,7juta Not specifically mentioned.
SDII agreed to provide drilling operations,
engineering and support services for a
contract value of US$9.7million.
138
Page 305
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
38. KONTRAK, PERJANJIAN DAN IKATAN YANG 38. SIGNIFICANT CONTRACTS, AGREEMENTS
SIGNIFIKAN (lanjutan) AND COMMITMENTS (continued)
Grup mempunyai perjanjian bidang usaha listrik The Group has power business activities
sebagai berikut: (lanjutan) agreement as follows: (continued)
ix. Lain-lain ix. Others
Tanggal Perjanjian/ Komitmen/ Periode Kontrak/
Perusahaan/Entity Date of Agreement Commitment Contract Period
PT Medco Power Indonesia
Mitsui Oil 29 Juni 2023/ MPI setuju untuk membentuk suatu Perjanjian Konsorsium ini
Exploration Co., Ltd. June 29, 2023 konsorsium untuk melaksanakan bersama akan berlaku sejak tanggal
kegiatan Penugasan Survei Pendahuluan 29 Juni 2023 sampai
dan Eksplorasi dari pemerintah dan, dengan waktu mana yang
bergantung pada keberhasilan pengeboran terjadi terlebih dahulu;
eksplorasi. Para pihak akan memiliki dan berlakunya Izin Panas Bumi
mengembangkan bersama Proyek Panas untuk wilayah kerja Bonjol
Bumi Bonjol, yang berlokasi di Provinsi diberikan dari Kementerian
Sumatera Barat, Indonesia. Energi dan Sumber Daya
Mineral Indonesia
MPI agreed to form a consortium to jointly ("Kementerian ESDM") atau
carry out the government's Preliminary perjanjian diakhiri
Survey and Exploration Assignment berdasarkan kesepakatan
activities and, contingently on the success bersama.
of exploration drilling. The parties will jointly
own and develop the Bonjol Geothermal This Consortium Agreement
Project, located in West Sumatra Province, will be effective from June
Indonesia. 29, 2023 until Geothermal
permits for the Bonjol
working area are granted
from the Indonesian Ministry
of Energy and Mineral
Resources ("Ministry of
Energy and Mineral
Resources") or the
agreement is terminated
based on mutual
agreement, which ever
occurs first.
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN AND POLICIES
Risiko utama yang timbul dari instrumen keuangan The main risks arising from the Group‘s financial
Grup adalah risiko suku bunga, risiko fluktuasi nilai instruments are interest rate risk, foreign currency
tukar mata uang asing, risiko kredit dan risiko risk, credit risk and liquidity risk. The Board of
likuiditas. Direksi Perusahaan menelaah dan Directors reviews and approves the policies for
menyetujui kebijakan untuk mengelola risiko-risiko managing each of these risks which are
yang dirangkum di bawah ini: summarized below:
a. Risiko suku bunga a. Interest rate risk
Risiko suku bunga adalah risiko dimana nilai Interest rate risk is the risk that the fair value
wajar atau arus kas masa datang dari suatu or future cash flows of a financial instrument
instrumen keuangan akan berfluktuasi akibat will fluctuate because of the changes in
perubahan suku bunga dan akan berdampak interest rates and will have a negative impact
negatif terhadap kinerja keuangan on the financial performance of the Company
Perusahaan dan Entitas Anaknya. Perusahaan and its Subsidiaries. The Company and its
dan Entitas Anaknya memiliki risiko tingkat Subsidiaries have interest rate risk which
suku bunga yang terutama berasal dari mainly originates from movements in interest
pergerakan suku bunga pinjaman bank rates on bank loans with floating interest rates.
dengan tingkat suku bunga mengambang.
Untuk mengelola risiko suku bunga, Grup To manage interest rate risk, the Group
melakukan kontrak Pertukaran Tingkat Suku undertakes Interest Rate Swaps contracts.
Bunga. Kontrak ini dicatat sebagai transaksi The contracts are recorded as a transaction
yang ditetapkan sebagai lindung nilai, dimana designated as a hedge, where the gain or loss
keuntungan atau kerugian yang timbul dari arising from the effective portion of the cash
bagian efektif lindung nilai atas arus kas flow hedge is credited or charged to other
dikreditkan atau dibebankan di pendapatan comprehensive income.
komprehensif lain.
139
Page 306
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN (lanjutan) AND POLICIES (continued)
a. Risiko suku bunga (lanjutan) a. Interest rate risk (continued)
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, had the
jika tingkat suku bunga pinjaman lebih interest rate of the loans been 100 basis points
meningkat/menurun 100 basis poin dengan higher/lower with all other variables held
semua variabel lain konstan, laba constant, profit before income tax for 2024 and
konsolidasian sebelum pajak penghasilan 2023 would have been Rp20,772,085,139 and
untuk tahun 2024 dan 2023 masing-masing Rp9,157,742,877, respectively, lower/higher,
akan menjadi Rp20.772.085.139 dan mainly as a result of higher/lower interest
Rp9.157.742.877, lebih rendah/lebih tinggi, expense on loans with floating interest rates.
terutama sebagai akibat dari beban bunga
yang lebih tinggi/lebih rendah pada pinjaman
dengan suku bunga mengambang.
b. Risiko fluktuasi nilai tukar mata uang asing b. Foreign currency risk
Risiko mata uang asing adalah risiko bahwa Foreign currency risk is the risk that the fair
nilai wajar atau arus kas masa depan dari value or future cash flows of a financial
suatu instrumen keuangan dalam mata uang instrument denominated in foreign currency
asing akan berfluktuasi karena perubahan nilai will fluctuate because of changes in exchange
tukar. Perusahaan dan sebagian entitas anak rates. Functional currency of the Company
memiliki mata uang fungsional Rupiah. and certain Subsidiaries is Rupiah. While,
Namun, beberapa entitas anak lain memiliki functional currency of the the other
mata uang fungsional Dolar AS. subsidiaries is US Dollar.
Perusahaan dan entitas anak terkena risiko The Company and subsidiaries are exposed to
valuta asing karena pembelian dan beban foreign exchange risk due to certain purchases
tertentu dalam mata uang yang berbeda dari and expenses denominated in a currency
mata uang fungsionalnya. Sebagian besar different from their functional currency. Most
entitas anak telah memiliki lindung nilai secara subsidiaries have a natural hedge because
alami karena memiliki penghasilan, beban they have revenues, principal expenses and
utama dan pembiayaan dalam mata uang financing in the same currency.
yang sama.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023 had the
jika nilai tukar Dolar AS terhadap Rupiah exchange rate of the US Dollar against the
depresiasi/apresiasi sebesar 10% dengan Rupiah depreciated/appreciated by 10% with
semua variabel lain dianggap konstan, laba all other variables held constant, profit before
sebelum pajak penghasilan untuk tahun 2024 income tax for 2024 and 2023 would have
dan 2023 masing-masing akan menjadi been Rp389,690,400,000 and
Rp389.690.400.000 dan Rp251.192.000.000, Rp251,192,000,000 lower/higher, respectively,
lebih rendah/lebih tinggi, terutama sebagai mainly as a result of foreign exchange losses/
akibat dari kerugian/keuntungan selisih kurs gains on the remeasurement of cash and cash
atas pengukuran kembali kas dan setara kas, equivalents, trade receivable, other
piutang usaha, piutang lain-lain, utang usaha, receivables, trade payables, other payables,
utang lain-lain, dan biaya yang masih harus and accrued expenses denominated in US
dibayar dalam mata uang Dolar AS dan Euro. Dollars and Euro.
c. Risiko kredit c. Credit risk
Risiko kredit mengacu pada risiko bahwa Credit risk refers to the risk that a counterparty
counterparty akan gagal memenuhi kewajiban will default on its contractual obligations
kontraktualnya yang mengakibatkan kerugian resulting in financial loss to the Group. The
finansial bagi Grup. Grup memiliki konsentrasi Group concentration of credit risk receivables
risiko kredit atas piutang karena sebagian because the majority of the Group’s income is
besar pendapatan Grup adalah dari PT PLN from PT PLN (Persero) and its subsidiaries in
(Persero) dan entitas anaknya sesuai dengan accordance with Power Purchase Agreement
Perjanjian Pembelian Tenaga Listrik atau or Operation and Maintenance contracts.
kontrak Operasi dan Pemeliharaan. Management believes in controlling and
Manajemen berkeyakinan untuk maintaining minimal exposure to credit risk
mengendalikan dan mempertahankan considering that the Group has a legally
eksposur yang minimal dari risiko kredit binding agreement with PLN, where PLN is a
mengingat bahwa Grup memiliki perjanjian state-owned entity with an "investment grade"
yang mengikat secara hukum dengan PLN, rating.
yang mana PLN merupakan entitas Badan
Usaha Milik Negara dengan peringkat
"investment grade".
140
Page 307
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN (lanjutan) AND POLICIES (continued)
c. Risiko kredit (lanjutan) c. Credit risk (continued)
Grup memiliki konsentrasi risiko kredit atas The Group has a credit risk concentration on
kas dan bank karena pada tanggal 31 cash and banks because as of December 31,
Desember 2024, Grup memiliki kas di bank 2024, the Group had cash in banks and time
dan deposito berjangka disimpan di PT Bank deposits held at PT Bank Woori Saudara
Woori Saudara Indonesia 1906 Tbk yang Indonesia 1906 Tbk which constituted 63% of
merupakan 63% dari total kas dan setara kas total cash and cash equivalents and time
dan deposito berjangka ( 2023: 43%). deposits ( 2023: 43%).
Sehubungan dengan rekening bank dan With respect to cash in banks and time
deposito berjangka yang ditempatkan pada deposits maintained with financial institutions,
lembaga keuangan, Grup bertransaksi hanya the Group transacts only with financially sound
dengan lembaga keuangan yang sehat. Risiko financial institutions. Credit risk arising from
kredit yang timbul dari aset keuangan lainnya the other financial assets relates to the
terkait dengan eksposur Grup terhadap Group’s exposure to losses from the possible
kerugian dari kemungkinan default dari pihak default of the counterparties such as their
rekanan seperti pelanggan mereka dan pihak customers and related parties.
terkait.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the
risiko kredit maksimum Grup adalah sebesar Group maximum credit risk amounted to the
nilai tercatat aset keuangannya terutama carrying values of their financial assets mainly
terdiri dari kas dan setara kas, rekening bank consisting of cash and cash equivalents,
dan deposito berjangka yang dibatasi restricted cash in banks and time deposits,
penggunaannya, piutang usaha, piutang lain- trade receivables, other receivables, finance
lain, keuangan piutang sewa pembiayaan dan lease receivables and concession financial
aset keuangan konsesi yang disajikan sebagai assets that is presented as “Other Non-current
“Aset Tidak Lancar Lainnya” pada laporan Assets” in the consolidated statements of
posisi keuangan konsolidasian. financial position.
d. Risiko likuiditas d. Liquidity risk
Risiko likuiditas adalah risiko bahwa Grup Liquidity risk is the risk that the Group will not
tidak akan dapat menyelesaikan semua be able to settle all liabilities as they fall due.
kewajiban pada saat jatuh tempo. Grup The Group manages this risk through
mengelola risiko ini melalui pemantauan arus monitoring of cash flows in consideration of
kas dengan mempertimbangkan pembayaran future liability payments and receivables
kewajiban dan penagihan piutang di masa collection,as well as, availability of financing.
mendatang, serta ketersediaan pendanaan. Currently, the Group depends on its related
Grup memantau dan mempertahankan tingkat parties for its funding requirements. The Group
kas di bank yang dianggap memadai untuk monitors and maintains a level of cash and
membiayai operasinya. Grup juga secara cash equivalents deemed adequate to finance
teratur mengevaluasi arus kas yang its operations. The Group also regularly
diproyeksikan dan aktual. evaluates the projected and actual cash flows.
Tabel di bawah ini menyajikan periode jatuh The following table sets out the maturity profile
tempo liabilitas keuangan Grup termasuk of the Group's financial liabilities, including
bunga di masa depan, (dalam jutaan rupiah) future interest, (in millions of rupiah) based on
berdasarkan pembayaran kontraktual yang contractual undiscounted payments:
tidak didiskontokan:
141
Page 308
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN (lanjutan) AND POLICIES (continued)
d. Risiko likuiditas (lanjutan) d. Liquidity risk (continued)
2024
Dalam 1 Lebih dari
tahun/ 5 tahun/
Within 1 1-2 tahun/ 2-3 tahun/ 3-4 tahun/ 4-5 tahun/ More than Total/
year 1-2 years 2-3 years 3-4 years 4-5 years 5 years Total
Pinjaman bank Short term bank
jangka pendek 883.930 - - - - - 883.930 loan
Utang usaha 260.863 - - - - - 260.863 Trade payable
Utang lain-lain 950.930 60.021 - - - - 1.010.951 Other payables
Liabilitas kontrak 8.396 8.396 8.396 8.396 6.065 - 39.649 Contract liability
Beban akrual 418.497 3.942 3.954 4.132 4.318 69.612 504.455 Accrued expenses
Utang kepada Due to related
pihak berelasi - 18.402 - - - - 18.402 parties
Liabilitas sewa 5.994 4.567 4.093 2.333 1.467 4.006 22.460 Lease liabilities
Pinjaman jangka
panjang Long-term debt
Pokok 340.931 395.673 354.095 713.218 684.745 3.815.829 6.304.491 Principal
Bunga 376.547 346.874 294.863 268.550 219.464 1.887.387 3.393.685 Interest
Pinjaman jangka Other long-term
panjang lainnya debt
Pokok 1.050.690 186.295 350.310 494.490 - 79.515 2.161.300 Principal
Bunga 175.661 103.895 79.316 57.395 7.952 8.344 432.563 Interest
2023
Dalam 1 Lebih dari
tahun/ 5 tahun/
Within 1 1-2 tahun/ 2-3 tahun/ 3-4 tahun/ 4-5 tahun/ More than Total/
year 1-2 years 2-3 years 3-4 years 4-5 years 5 years Total
Pinjaman bank Short term bank
jangka pendek 964.977 - - - - - 964.977 loan
Utang usaha 116.547 - - - - - 116.547 Trade payable
Utang lain-lain 666.507 52.960 - - - - 719.467 Other payables
Beban akrual 195.191 5.892 5.639 5.386 5.133 63.242 280.483 Accrued expenses
Utang kepada Due to related
pihak berelasi - 17.400 - - - - 17.400 parties
Liabilitas sewa 16.659 4.102 2.594 2.022 464 4.375 30.216 Lease liabilities
Pinjaman jangka
panjang Long-term debt
Pokok 1.199.367 623.325 567.401 255.115 185.609 2.488.007 5.318.824 Principal
Bunga 47.767 22.823 17.253 13.741 6.928 1.284.104 1.392.616 Interest
Pinjaman jangka Other long-term
panjang lainnya debt
Pokok 7.000 1.050.690 10.300 350.310 - - 1.418.300 Principal
Bunga 131.552 105.685 33.177 24.388 - - 294.802 Interest
e. Manajemen modal e. Capital management
Tujuan Grup dalam mengelola modal adalah The Group objectives when managing capital
untuk memelihara struktur permodalan yang are to maintain a strong capital base and to
kuat dan mempertahankan pengembangan sustain future development of the business.
bisnis yang berkelanjutan di masa depan.
Grup secara teratur meninjau dan mengelola The Group regularly reviews and manages
struktur permodalannya untuk memastikan their capital structure to ensure optimal
struktur modal dan pengembalian pemegang structure and shareholder returns, taking into
saham yang optimal, dengan consideration the future capital requirements
mempertimbangkan kebutuhan modal masa of the Group and capital efficiency, prevailing
depan Grup dan efisiensi modal, profitabilitas and projected profitability, operating cash
yang berlaku dan terproyeksi, arus kas flows, capital expenditures and strategic
operasi, belanja modal dan strategi peluang investment opportunities.
investasi.
142
Page 309
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
39. KEBIJAKAN DAN TUJUAN MANAJEMEN 39. FINANCIAL RISK MANAGEMENT OBJECTIVES
RISIKO KEUANGAN (lanjutan) AND POLICIES (continued)
e. Manajemen modal (lanjutan) e. Capital management (continued)
Manajemen menganggap total ekuitas sebagai Management regards total equity as capital for
modal untuk tujuan manajemen modal. Pada capital management purposes. As of
tanggal 31 Desember 2024, termasuk di December 31, 2024, including capital
dalamnya, modal yang dapat diatribusikan attributable to owners of the parent company
kepada pemilik entitas induk, sebesar amounted to Rp3,703,763,443,364 which
Rp3.703.763.443.364 telah dianggap optimal amount is considered optimal by the
oleh manajemen, setelah memperhitungkan management, after taking into account, the
proyeksi belanja modal dan peluang investasi projected capital expenditures and strategic
strategis. investment opportunities.
Tidak ada perubahan dalam pendekatan Grup There are no changes in the Group’s approach
terhadap pengelolaan modal sepanjang tahun. to the capital management during the year.
f. Perubahan Liabilitas yang Timbul dari Aktivitas f. Changes in Liabilities Arising from Financing
Pendanaan Activities
Tabel di bawah ini menyajikan perubahan The following table sets out the changes of the
liabilitas keuangan Grup yang timbul dari Group’s financial liabilities arising from
aktivitas pendanaan (dalam jutaan rupiah): financing activities (in millions of rupiah):
2024
Biaya yang
Valuta Belum
Asing/ Diamortisasi/
1 Januari/ Arus Kas/ Foreign Unamortized Reklasifikasi/ 31 Desember/
January 1 Cash flows Exchange cost Reclassification December 31
Porsi jangka pendek
atas: Current maturities of:
Liabilitas sewa 16.659 (20.000) - - 9.335 5.994 Lease liabilities
Pinjaman jangka
panjang 1.199.367 (1.818.749) - - 960.313 340.931 Long-term debt
Pinjaman jangka
panjang lainnya 7.000 (7.000) - - 1.050.690 1.050.690 Other long-term debt
Porsi jangka panjang
atas: Non-current portion of:
Liabilitas sewa 13.558 - 527 11.715 (9.335) 16.465 Lease liabilities
Pinjaman jangka
panjang 3.788.957 2.201.956 161.700 410.046 (960.313) 5.602.346 Long-term debt
Pinjaman jangka
panjang lainnya 1.402.658 750.000 - (1.076) (1.050.690) 1.100.892 Other long-term debt
Total liabilitas dari Total liabilities from
aktivitas pendanaan 6.428.199 1.106.207 162.227 420.685 - 8.117.318 financing activities
2023
Biaya yang
Valuta Belum
Asing/ Diamortisasi/
1 Januari/ Arus Kas/ Foreign Unamortized Reklasifikasi/ 31 Desember/
January 1 Cash flows Exchange cost Reclassification December 31
Porsi jangka pendek
atas: Current maturities of:
Liabilitas sewa 13.269 (18.930) - - 22.320 16.659 Lease liabilities
Pinjaman jangka
panjang 616.048 (1.073.229) (156.626) - 1.813.174 1.199.367 Long-term debt
Pinjaman jangka
panjang lainnya 437.000 (437.000) - - 7.000 7.000 Other long-term debt
Porsi jangka panjang
atas: - Non-current portion of:
Liabilitas sewa 19.240 - 3.313 13.325 (22.320) 13.558 Lease liabilities
Pinjaman jangka
panjang 4.441.333 1.127.951 32.172 675 (1.813.174) 3.788.957 Long-term debt
Pinjaman jangka
panjang lainnya 1.407.542 - - 2.116 (7.000) 1.402.658 Other long-term debt
Total liabilitas dari Total liabilities from
aktivitas pendanaan 6.934.432 (401.208) (121.141) 16.116 - 6.428.199 financing activities
143
Page 310
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
40. INSTRUMEN KEUANGAN 40. FINANCIAL INSTRUMENTS
Nilai wajar Fair values
Grup menggunakan hierarki berikut untuk The Group use the following hierarchy for
menentukan dan mengungkapkan nilai wajar dari determining and disclosing the fair value of financial
instrumen keuangan dengan teknik penilaian: instruments by valuation technique:
Tingkat 1: harga yang telah ditentukan (yang Level 1: quoted (unadjusted) prices in active
belum disesuaikan) di pasar aktif markets for identical assets or liabilities
untuk aset dan liabilitas yang identik
Tingkat 2: teknik lainnya dimana semua masukan Level 2: other techniques for which all inputs
yang memiliki efek yang signifikan which have a significant effect on the
terhadap nilai wajar tercatat dapat recorded fair value are observable,
diobservasi, baik secara langsung either directly or indirectly
maupun tidak langsung
Tingkat 3: teknik yang menggunakan masukan Level 3: techniques which use inputs which
yang memiliki efek signifikan terhadap have a significant effect on the
nilai wajar tercatat yang tidak recorded fair value that are not based
berdasarkan data pasar yang dapat on observable market data
diobservasi
Pada tanggal 31 Desember 2024 dan 2023, semua As of December 31, 2024 and 2023, all the fair
nilai wajar dari instrumen keuangan telah values of financial instruments were determined
ditentukan menggunakan teknik penilaian tingkat using level three (3) valuation technique, except for
tiga (3), kecuali untuk aset derivatif dimana derivative assets whereby the fair values were
ditentukan dengan menggunakan teknik penilaian determined using level two (2) valuation technique.
tingkat dua (2). Tidak ada pemindahan antara There were no transfers between level two (2) and
pengukuran nilai wajar tingkat dua (2) dan tingkat level three (3) fair value measurements.
tiga (3).
Pada tanggal 31 Desember 2024 dan 2023, rincian As of December 31, 2024 and 2023, the details of
dari aset dan liabilitas keuangan Grup adalah the Group’s financial assets and liabilities are as
sebagai berikut: follows:
Aset dan liabilitas keuangan lancar Current financial assets and liabilities
Aset dan liabilitas keuangan lancar Grup terdiri dari The Group’s current financial assets and liabilities
kas dan setara kas, piutang usaha, piutang lain- consist of cash and cash equivalents, trade
lain, rekening bank dan deposito berjangka yang receivables, other receivables, restricted cash in
dibatasi penggunaannya, piutang sewa banks and time deposits, current maturities of
pembiayaan yang jatuh tempo dalam waktu satu finance lease receivables, current maturities of
tahun, aset derivatif yang jatuh tempo dalam satu derivative assets, current maturities of concession
tahun, aset keuangan konsesi yang jatuh tempo financial assets, trade payables, other payables,
dalam waktu satu tahun, utang usaha, utang lain- current maturities of accrued expenses, current
lain, beban akrual yang jatuh tempo dalam waktu maturities of due to related parties, current
satu tahun, utang kepada pihak berelasi yang jatuh maturities of lease liabilities, current maturities of
tempo dalam waktu satu tahun, pinjaman bank other long-term debt and current maturities of long-
jangka pendek, liabilitas sewa yang jatuh tempo term debt. The carrying values of the Group’s
dalam pinjaman jangka satu tahun, pinjaman current financial assets and liabilities approximate
jangka panjang lainnya yang jatuh tempo dalam their fair values due to the short-term maturity of
satu tahun dan pinjaman jangka panjang yang jatuh these financial assets and liabilities.
tempo dalam satu tahun. Nilai tercatat aset dan
liabilitas keuangan lancar Grup mendekati nilai
wajar karena sifat dasar jangka pendek dari akun
aset dan liabilitas keuangan.
144
Page 311
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
40. INSTRUMEN KEUANGAN (lanjutan) 40. FINANCIAL INSTRUMENTS (continued)
Aset dan liabilitas keuangan tidak lancar Non-current financial assets and financial liabilities
Perbandingan jumlah tercatat dan nilai wajar aset A comparison of the carrying amounts and fair
dan liabilitas keuangan tidak lancar pada tanggal 31 values of non-current financial assets and liabilities
Desember 2024 dan 2023 adalah sebagai berikut: as of December 31, 2024 and 2023 are as follows:
2024
Nilai Tercatat/ Nilai Wajar/
Carrying Values Fair Values
Aset keuangan Financial assets
Aset keuangan konsesi 8.846.237.824.779 9.340.258.315.287 Concession financial assets
Piutang lain-lain - pihak ketiga 121.470.076.800 121.470.076.800 Other receivables - third parties
Piutang sewa pembiayaan 1.153.322.351.850 1.406.763.043.928 Finance lease receivables
Aset derivatif 361.529.964.880 361.529.964.880 Derivative assets
Investasi jangka panjang 67.337.450.000 67.337.450.000 Long-term investments
Liabilitas keuangan Financial liabilities
Utang lain-lain 60.020.869.805 60.020.869.805 Other payables
Beban akrual 85.958.175.600 85.958.175.600 Accrued expenses
Utang kepada pihak berelasi 18.401.581.396 18.401.581.396 Due to related parties
Liabilitas sewa 16.465.366.672 16.465.366.672 Lease liabilities
Pinjaman jangka panjang 5.602.345.504.172 5.602.345.504.172 Long-term debt
Pinjaman jangka panjang lainnya 1.100.892.401.635 1.100.892.401.635 Other long-term debt
2023
Nilai Tercatat/ Nilai Wajar/Fair
Carrying Values Values
Aset keuangan Financial assets
Aset keuangan konsesi 7.107.362.235.455 7.461.405.672.546 Concession financial asset
Piutang lain-lain - pihak ketiga 128.648.995.957 128.648.995.957 Other receivables - third parties
Piutang sewa pembiayaan 1.449.744.209.382 1.895.710.419.628 Finance lease receivables
Aset derivatif 309.220.871.729 309.220.871.729 Derivative assets
Liabilitas keuangan Financial liabilities
Utang lain-lain 52.960.391.760 52.960.391.760 Other payables
Beban akrual 85.292.113.683 85.292.113.683 Accrued expenses
Utang kepada pihak berelasi 17.399.776.100 17.399.776.100 Due to related parties
Liabilitas sewa 13.557.517.091 13.557.517.091 Lease liabilities
Pinjaman jangka panjang 3.788.957.213.408 3.788.957.213.408 Long-term debt
Pinjaman jangka panjang lainnya 1.402.658.431.608 1.402.658.431.608 Other long-term debt
Nilai tercatat atas pinjaman jangka panjang dan The carrying values of long-term debt and other
pinjaman jangka panjang lainnya mendekati nilai long-term debt approximate their fair values
wajarnya karena suku bunga dari pinjaman tersebut because the interest rates of such loans generally
umumnya bergerak sesuai dengan tingkat bunga move in line with the prevailing market interest
pasar yang berlaku. rates.
Nilai wajar dari piutang lain-lain, aset keuangan Fair values of other receivables, concession
konsesi, utang lain-lain, beban akrual diestimasi financial asset, other payables, accrued expense
menggunakan diskonto arus kas. Nilai wajar atas are estimated using a discounted cash flow model.
aset derivatif diestimasi berdasarkan teknik The fair value of the derivative assets are estimated
penilaian yang wajar dengan input pasar yang using appropriate valuation techniques with
dapat diobservasi. Investasi jangka panjang adalah observable market inputs. The long-term
investasi ekuitas tidak tercatat dengan pendekatan investment is a non-listed equity investment that is
nilai wajar. carried at fair value approach.
145
Page 312
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
41. INFORMASI SEGMEN 41. SEGMENT INFORMATION
Grup mengklasifikasikan dan mengevaluasi The Group classifies and evaluates its financial
informasi keuangan mereka menjadi pelaporan information into reportable operating segments
segmen operasi yang dikelompokkan menjadi lima which are grouped into five (5) strategic business
(5) kelompok bisnis strategis: groups:
Segmen Operasi Operating Segments
Grup bergerak di bidang usaha sebagai The Group is engaged in the following
berikut: business activities:
i. IPP Gas i. Gas IPP
ii. IPP Panas Bumi ii. Geothermal IPP
iii. IPP Hidro dan energi terbarukan iii. Hydro IPP and other renewables
iv. Operasi dan pemeliharaan iv. Operation and maintenance
v. Holding dan operasi terkait v. Holding and related operation
2024 (Dalam jutaan rupiah/in million rupiah)
IPP Hidro Holding dan
dan Energi operasional
IPP Panas terbarukan/ Operasi dan terkait/
Bumi/ Hydro IPP pemeliharaan/ Holding and
IPP Gas/ Geothermal and other Operation and related Eliminasi/ Konsolidasi/
Gas IPP IPP renewables maintenance operations Elimination Consolidation
Penjualan eksternal/ External sales 1.285.396 1.307.144 216.660 435.380 26.722 - 3.271.302
Penjualan antar segmen/
Intersegment sales 19.053 - - 46.122 61.703 (126.878) -
Total pendapatan/ Total revenues 1.304.449 1.307.144 216.660 481.502 88.425 (126.878) 3.271.302
Laba bruto/
Gross profit 579.286 267.602 45.831 272.000 76.128 (47.053) 1.193.794
Beban operasional/Operational
expenses (214.692) (30.921) (30.074) (176.301) (224.613) 66.438 (610.163)
Beban pendanaan/Finance costs (252.439) (133.951) (2.993) (91) (297.390) 9 (686.855)
Laba (rugi) tahun berjalan/Profit
(loss) for the year 132.771 91.080 (96.435) 79.117 (52.844) (262.078) (108.389)
ASET
Aset segmen/
ASSET
Segment assets 9.086.958 4.205.788 763.661 458.178 11.369.805 (7.472.758) 18.411.632
LIABILITAS
Liabilitas segmen/
LIABILITIES
Segment liabilities 5.335.591 3.174.040 1.082.398 199.762 6.598.310 (4.623.385) 11.766.716
146
Page 313
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
41. INFORMASI SEGMEN (lanjutan) 41. SEGMENT INFORMATION (continued)
2023 (Dalam jutaan rupiah/in million rupiah)
IPP Hidro Holding dan
dan Energi operasional
IPP Panas terbarukan/ Operasi dan terkait/
Bumi/ Hydro IPP pemeliharaan/ Holding and
IPP Gas/ Geothermal and other Operation and related Eliminasi/ Konsolidasi/
Gas IPP IPP renewables maintenance operations Elimination Consolidation
Penjualan eksternal/ External sales 1.267.387 2.548.900 65.328 386.734 55.169 - 4.323.518
Penjualan antar segmen/
Intersegment sales 65.940 2.217 73 34.826 18.843 (121.899) -
Total pendapatan/ Total revenues 1.333.327 2.551.117 65.401 421.560 74.012 (121.899) 4.323.518
Laba bruto/
Gross profit 590.946 242.405 27.265 283.943 67.477 (93.043) 1.118.993
Beban operasional/Operational
expenses (232.289) (23.599) (24.310) (183.021) (223.115) 121.949 (564.385)
Beban pendanaan/Finance costs (252.974) (13.987) (7.212) (168) (323.034) 4.641 (592.734)
Laba (rugi) tahun berjalan/Profit
(loss) for the year 149.134 158.390 (29.903) 76.455 (365.688) 24.188 12.576
ASET
Aset segmen/
ASSET
Segment assets 8.880.988 2.642.761 688.192 399.187 7.930.657 (4.612.557) 15.929.228
LIABILITAS
Liabilitas segmen/
LIABILITIES
Segment liabilities 5.300.431 1.726.933 913.709 190.715 5.870.074 (4.625.531) 9.376.331
42. ASET DAN LIABILITAS MONETER DALAM 42. MONETARY ASSETS AND LIABILITIES
MATA UANG ASING DENOMINATED IN FOREIGN CURRENCIES
Grup memiliki aset dan liabilitas moneter dalam The Group has monetary assets and liabilities
mata uang asing dengan rincian sebagai berikut: denominated in foreign currencies as follows:
2024
Dalam mata uang aslinya (dalam satuan penuh)/ Setara Rupiah
In original currency (full amount) (dalam jutaan)/
Rupiah
AS$/ Euro/ Lain-lain/ Equivalent
US$ Euro Others (in million)
Aset Assets
Kas dan setara kas 59.274.761 - - 958.009 Cash and cash equivalents
Trade receivables - third
Piutang usaha - pihak ketiga 13.852.672 - - 319.412 parties
Piutang lain-lain - pihak Other receivables - related
berelasi 149.413 - - 2.415 parties
Other receivables - third
Piutang lain-lain - pihak ketiga 1.798.516 568.230 459 40.880 parties
Liabilitas Liabilities
Utang usaha - pihak ketiga (3.538.245) 220 - (109.656) Trade payables - third parties
Beban akrual - - - - Accrued expenses
Pinjaman jangka panjang (316.811.485) - - (5.120.373) Long-term debt
Liabilitas Neto (245.274.368) 568.450 459 (3.909.313) Net Liabilities
147
Page 314
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
42. ASET DAN LIABILITAS MONETER DALAM 42. MONETARY ASSETS AND LIABILITIES
MATA UANG ASING (lanjutan) DENOMINATED IN FOREIGN CURRENCIES
(continued)
Grup memiliki aset dan liabilitas moneter dalam The Group has monetary assets and liabilities
mata uang asing dengan rincian sebagai berikut: denominated in foreign currencies as follows:
(lanjutan) (continued)
2023
Setara Rupiah
Dalam mata uang aslinya (dalam satuan penuh)/ (dalam jutaan)/
In original currency (full amount) Rupiah
Equivalent
AS$/ Euro/ Lain-lain/ (in million)
US$ Euro Others
Aset Assets
Kas dan setara kas 82.091.577 - 26.813 1.202.061 Cash and cash equivalents
Piutang usaha - pihak ketiga 20.129.323 - - 156.726 Trade receivables - third parties
Piutang lain-lain - pihak Other receivables - related
berelasi 403.159 3.607.471 24.216 parties
Piutang lain-lain - pihak ketiga 5.397.489 1.150.973 938 51.436 Other receivables - third parties
Liabilitas Liabilities
Utang usaha - pihak ketiga (8.906.315) - - (4) Trade payables - third parties
Utang kepada pihak berelasi (1.141.857) (8.890) Due to related parties
Beban akrual (10.389.775) - - (80.894) Accrued expenses
Pinjaman jangka panjang (45.143.449) - - (3.870.457) Long-term debt
Liabilitas Neto 42.440.152 1.150.973 3.635.222 (2.525.806) Net Liabilities
43. RUGI PER SAHAM 43. LOSS PER SHARE
Rugi per saham dasar dihitung dengan membagi Basic loss per share amounts are computed by
rugi tahun berjalan yang dapat diatribusikan kepada dividing loss for the year attributable to equity
pemilik entitas induk dengan rata-rata tertimbang holders of the parent company by the weighted
jumlah saham yang beredar pada tahun yang average number of ordinary shares outstanding
bersangkutan. during the year.
Pada tanggal 31 Desember 2024 dan 2023, jumlah As of December 31, 2024 and 2023, total weighted
saham berdasarkan rata-rata tertimbang saham average of number ordinary shares outstanding for
yang beredar untuk tujuan perhitungan laba per earning per shares calculation amounting to
saham dasar masing-masing sebanyak 1,100,000,000.
1.100.000.000.
2024 2023
Rugi yang dapat diatribusikan Loss attributable to equity holder of
kepada pemilik entitas induk (262.932.690.349) (167.023.729.900) the parent company
Total rata-rata tertimbang saham The weighted average number of
biasa yang beredar 1.100.000.000 1.100.000.000 outstanding shares
Rugi per saham dasar (239,03) (151,84) Basic loss per share
148
Page 315
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
44. CATATAN ATAS LAPORAN ARUS KAS 44. NOTES TO THE CONSOLIDATED STATEMENTS
KONSOLIDASIAN OF CASH FLOWS
Rincian pengungkapan tambahan aktivitas non-kas The details of supplemental disclosure of non-cash
adalah sebagai berikut: activities are as follows:
2024 2023
Additions to property, plant and
Penambahan aset tetap dari utang equipment from payable and
dan pinjaman 502.394.139.511 - loan
Penambahan aset keuangan Addition to concession financial
konsesi dari marjin konsesi 75.315.267.051 155.640.294.336 assets from concession margin
Penambahan aset keuangan Additions to concession financial
konsesi dari utang dan pinjaman 1.044.937.608.333 991.796.365.293 assets from payable and loan
Additions to concession financial
Penambahan aset keuangan assets from exploration and
konsesi yang berasal dari aset evaluation assets, advance for
eksplorasi dan evaluasi, uang purchase of property, plant and
muka pembelian aset tetap dan equipment and property, plant
aset tetap - 1.152.039.296.269 and equipment
Additions to property, plant and
Penambahan aset tetap dari uang equipment from advance for
muka pembelian aset tetap - 1.631.141.232 property, plant and equipment
Pembayaran utang terkait Payments of prior year payables
pembelian aset tetap tahun related to purchase of property,
sebelumnya - 131.512.315.573 plant and equipment
45. KONTINJENSI 45. CONTINGENCIES
PT Medco Ratch Power Riau PT Medco Ratch Power Riau
Novia Corry (Penggugat 1) dan Fenny Wong Novia Corry (Plaintiff 1) and Fenny Wong (Plaintiff
(Penggugat 2) mengajukan gugatan terhadap PT 2) filed a lawsuit against PT Lotte Engineering &
Lotte Engineering & Construction Co. Ltd (Tergugat Construction Co. Ltd (Defendant 1) and MRPR
1) dan MRPR (Tergugat 2) di Pengadilan Negeri (Defendant 2) at the South Jakarta District Court on
Jakarta Selatan atas dasar perbuatan melawan the basis of tort. The Plaintiffs claim to suffer loss
hukum. Para Penggugat mengklaim menderita due to dredging and excavation of landfill activities
kerugian akibat kegiatan pengerukan dan in Plaintiff’s land carried out by Defendant 1. The
penggalian di tanah Penggugat yang dilakukan oleh lawsuit claim to Defendant 1 is to pay
Tergugat 1. Gugatan terhadap Tergugat 1 adalah compensation in the amount of Rp10 billion while
ganti rugi sebesar Rp10 miliar sedangkan gugatan the lawsuit claim to Defendant 2 is to pay penalty in
terhadap Tergugat 2 adalah membayar denda the amount of Rp1 million for every day of delay in
sebesar Rp1 juta untuk setiap hari keterlambatan implementing the court decision.
dalam melaksanakan putusan pengadilan.
Pada 18 April 2023, Pengadilan Negeri On April 18, 2023, the District Court issued decision
mengeluarkan putusan di mana Tergugat 2 in which Defendant 2 is sentenced to pay court cost
dihukum membayar biaya perkara sebesar of Rp986,000 (nine hundred eighty six thousand of
Rp986.000 (sembilan ratus delapan puluh enam Rupiah).
ribu Rupiah).
Pada tanggal 26 Januari 2024, Pengadilan Tinggi On January 26, 2024, the Jakarta Hight Court
Jakarta menguatkan putusan Pengadilan Negeri. upholds the decision of District Court.
Pada 26 Februari 2024, MRPR telah mengajukan On February 26, 2024, MRPR has submitted a
kasasi ke Mahkamah Agung Republik Indonesia cassation to the Supreme Court of the Republic of
atas putusan Pengadilan Tinggi Jakarta. Indonesia on the Jakarta Hight Court decision.
Pada 16 Desember 2024, Mahkamah Agung On December 16, 2024, the Supreme Court of the
menolak permohonan kasasi atas putusan Republic Indonesia rejected the cassation of
Pengadilan Tinggi Jakarta dan menghukum MRPR Jakarta High Court Decision. and sentenced MRPR
untuk membayar biaya perkara sebesar Rp500.000 to pay court cost of Rp500,000 (five hundred
(lima ratus ribu rupiah). Grup menyatakan bahwa thousand of Rupiah). The Group states that the
kerugian terhadap MRPR hanya terbatas pada loss to MRPR is limited to the court cost charged,
biaya perkara yang dikenakan, oleh karena itu tidak therefore no further provision has been made for
ada provisi lebih lanjut yang dibukukan untuk this lawsuit in the consolidated financial statements.
gugatan ini dalam laporan keuangan konsolidasi.
149
Page 316
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
46. PERISTIWA SETELAH TANGGAL PELAPORAN 46. EVENTS AFTER THE REPORTING PERIOD
i. Pada 7 Januari 2025, MPI melakukan i. On January 7, 2025, MPI withdrew a loan
penarikan pinjaman sebesar amounting to Rp86,000,000,000 from BSI.
Rp86.000.000.000 dari BSI.
ii. Selama Januari hingga Maret 2025, MSBT ii. Between January and March 2025, MSBT
melakukan penarikan pinjaman sebesar withdrew loans amounting to US$2,340,237
AS$2.340.237 dan Rp2.635.036.992 dari PT and Rp2,635,036,992 from PT Bank Negara
Bank Negara Indonesia (Persero), Tbk. Indonesia (Persero), Tbk.
iii. Pada tanggal 13 Januari 2025, MPI iii. On January 13, 2025, MPI fully repaid of BWS
melakukan pelunasan pinjaman BWS sebesar outstanding loan amounting to US$3,250,000.
AS$3.250.000.
iv. Pada tanggal 25 Januari dan 25 Februari 2025 iv. On January 25 and February 25, 2025, MPI
MPI melakukan pembayaran cicilan terjadwal made scheduled installment payments to
kepada Maybank sebesar masing-masing Maybank amounting to Rp6,652,887,500 and
Rp6.652.887.500 dan Rp2.097.112.500. Rp2,097,112,500, respectively.
v. Selama Januari hingga Maret 2025, ELB telah v. Between January and March 2025, ELB made
melakukan pembayaran cicilan terjadwal ke scheduled installment payments to BSI
BSI sebesar AS$1.465.855. amounting to US$1,465,855.
vi. Pada tanggal 7 Februari 2025, MPI vi. On February 7 2025, MPI issued a Shelf
menerbitkan Sukuk Berkelanjutan Rupiah Registered Rupiah Sukuk for
sebesar Rp1.150.000.000.000 ("PUB Sukuk Rp1,150,000,000,000 ("PUB Sukuk Tahap
Tahap IV") yang terbagi dalam tiga seri yaitu: IV") consisting of three tranches:
Seri A sebesar Rp125.035.000.000 dengan Tranche A amounting Rp125,035,000,000 with
tenor 3 tahun; 3-year tenor;
Seri B sebesar Rp816.955.000.000 dengan Tranche B amounting Rp816,955,000,000 with
tenor 5 tahun; 5-year tenor;
Seri C sebesar Rp208.010.000.000 dengan Tranche C amounting Rp208,010,000,000 with
tenor 7 tahun. 7-year tenor.
vii. Pada tanggal 9 Februari 2025, Proyek Ijen vii. On February 9, 2025, Ijen project has
telah mencapai tanggal operasi komersial. commercially operated.
viii. Pada 21 Februari 2025, MRPR melakukan viii. On February 21, 2025, MRPR made a
pembayaran cicilan terjadwal ke konsorsium scheduled installment payment to Riau lenders
pemberi pinjaman Riau sebesar consortium amounting to US$4,963,748.
AS$4.963.748.
ix. Pada 25 Februari 2025, MPI telah melakukan ix. On February 25, 2025, MPI made a scheduled
pembayaran cicilan terjadwal sebesar installment payment amounting to
Rp4.500.000.000 kepada BTN. Rp4,500,000,000 to BTN.
x. Pada 25 Februari 2025, MRPR dan PLN telah x. On February 25, 2025, MRPR and PLN have
melakukan amandemen Perjanjian Pembelian amended Power Purchase Agreement to
Tenaga Listrik untuk memperpanjang Tanggal extend the Required COD to be September 3,
Operasi Komersial yang Disyaratkan menjadi 2021.
3 September 2021.
xi. Pada 6 Maret 2025, DEB dan PLN Batam xi. On March 6, 2025, DEB and PLN Batam have
telah melakukan amandemen Perjanjian amended Power Purchase Agreement to
Pembelian Tenaga Listrik untuk mengubah modify certain terms, including electricity price
beberapa ketentuan, termasuk harga jual and operation period to be 20 years up to
listrik dan masa operasi menjadi 20 tahun March 31, 2030.
hingga 31 Maret 2030.
xii. Pada 13 Maret 2025, ELB melakukan xii. On March 13, 2025, ELB withdrew a loan
penarikan pinjaman sebesar AS$6.095.948 amounting to US$6,095,948 from BSI.
dari BSI.
xiii Pada tanggal 18 Maret 2025, Perusahaan xiii. On March 18, 2025, PT Medco Power
telah melakukan pelunasan pinjaman promes Indonesia has settled revolving loan of
berulang sebesar Rp40.000.000.000 kepada Rp40,000,000,000 to Maybank.
Maybank.
xiv. Pada 25 Maret 2025, MPI telah melakukan xiv. On March 25, 2025, MPI has paid scheduled
pembayaran cicilan terjadwal sebesar installment Rp3,326,012,500 to BSI.
Rp3.326.012.500 kepada BSI.
150
Page 317
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
46. PERISTIWA SETELAH TANGGAL PELAPORAN 46. EVENTS AFTER THE REPORTING PERIOD
(lanjutan) (continued)
xv. Pada 26 Maret 2025, MPI telah melakukan xv. On March 26, 2025, MPI has paid scheduled
pembayaran cicilan terjadwal sebesar installment of Rp3,750,000,000 to Bank Hana.
Rp3.750.000.000 kepada Bank Hana.
47. STANDAR AKUNTANSI YANG TELAH 47. ACCOUNTING STANDARDS ISSUED BUT NOT
DITERBITKAN NAMUN BELUM BERLAKU YET EFFECTIVE
EFEKTIF
Standar akuntansi yang telah diterbitkan sampai The accounting standards that have been issued
tanggal penerbitan laporan keuangan konsolidasian up to the date of issuance of the Group’s
Grup, namun belum berlaku efektif diungkapkan consolidated financial statements, but not yet
berikut ini. Manajemen bermaksud untuk effective are disclosed below. The management
menerapkan standar yang dipertimbangkan relevan intends to adopt these standards that are
terhadap Grup pada saat standar tersebut berlaku considered relevant to the Group when they
efektif, dan dampak penerapan standar tersebut become effective, and the impact to the
terhadap posisi dan kinerja keuangan konsolidasian consolidated statements of financial position and
Grup masih diestimasi pada tanggal selesainya performance of the Group is still being estimated as
laporan keuangan konsolidasian. Kecuali of completion date of the consolidated financial
disebutkan lain, Grup tidak mengharapkan adopsi statements. Unless otherwise indicated, the Group
pernyataan tersebut di masa depan memiliki does not expect that the future adoption of the said
dampak signifikan terhadap laporan keuangan pronouncements to have a significant impact on its
konsolidasian. consolidated financial statements.
Mulai efektif pada atau setelah 1 Januari 2025 Effective beginning on or after January 1 2025
Amandemen PSAK 221: Kekurangan ketertukaran Amendment of PSAK 221: Lack of exchangeability
Amandemen tersebut mengharuskan The amendments require disclosure of information
pengungkapan informasi yang memungkinkan that enables users of financial statements to
pengguna laporan keuangan memahami dampak understand the impact of a currency not being
mata uang yang tidak dapat dipertukarkan. exchangeable. The amendments apply for annual
Amandemen berlaku untuk periode pelaporan reporting periods beginning on or after 1 January
2025. Earlier application is permitted which an
tahunan yang dimulai pada atau setelah 1 Januari entity is required to disclose that fact. The date of
2025. Penerapan dini diperkenankan dimana initial application is the beginning of the annual
entitas diharuskan mengungkapkan fakta tersebut. reporting period in which an entity first applies the
Tanggal penerapan awal adalah awal periode amendments.
pelaporan tahunan saat entitas pertama kali
menerapkan amandemen tersebut.
Grup saat ini sedang menilai dampak dari The Group is currently assessing the impact of the
amandemen tersebut untuk menentukan amendment to determine the impact they will have
dampaknya terhadap pelaporan keuangan Grup. on the Group’s financial reporting.
PSAK 117: Kontrak asuransi PSAK 117: Insurance contracts
Standar akuntansi baru yang komprehensif untuk A comprehensive new accounting standard for
kontrak asuransi yang mencakup pengakuan dan insurance contracts covering recognition and
pengukuran, penyajian dan pengungkapan, pada measurement, presentation and disclosure, upon
saat berlaku efektif PSAK 117 akan menggantikan its effective date, PSAK 117 will replace PSAK 104:
PSAK 104: Kontrak asuransi. PSAK 117 berlaku Insurance contracts. PSAK 117 applies to all types
untuk semua jenis kontrak asuransi, jiwa, non-jiwa, of insurance contracts, life, non-life, direct
asuransi langsung dan reasuransi, terlepas dari insurance and re-insurance, regardless of the
entitas yang menerbitkannya, serta untuk jaminan entities issuing them, as well as to certain
dan instrumen keuangan tertentu dengan fitur guarantees and financial instruments with
partisipasi tidak mengikat, serta beberapa discretionary participation features, while a few
pengecualian ruang lingkup akan berlaku. Tujuan scope exceptions will apply. The overall objective of
keseluruhan dari PSAK 117 adalah untuk PSAK 117 is to provide an accounting model for
menyediakan model akuntansi untuk kontrak insurance contracts that is more useful and
asuransi yang lebih bermanfaat dan konsisten consistent for insurers.
untuk asuradur.
Grup saat ini sedang menilai dampak dari The Group is currently assessing the impact of the
amendemen tersebut untuk menentukan amendment to determine the impact they will have
dampaknya terhadap pelaporan keuangan Grup. on the Group’s financial reporting.
151
Page 318
The original consolidated financial statements included herein are in the
Indonesian language
PT MEDCO POWER INDONESIA PT MEDCO POWER INDONESIA
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
CATATAN ATAS LAPORAN KEUANGAN NOTES TO THE CONSOLIDATED FINANCIAL
KONSOLIDASIAN STATEMENTS
Tanggal 31 Desember 2024 As of December 31, 2024
dan Untuk Tahun yang Berakhir and For the Year Then Ended
pada Tanggal Tersebut (Expressed in Rupiah, Unless Otherwise Stated)
(Disajikan dalam Rupiah, Kecuali Dinyatakan Lain)
48. PENYELESAIAN LAPORAN KEUANGAN 48. COMPLETION OF THE CONSOLIDATED
KONSOLIDASIAN FINANCIAL STATEMENTS
Manajemen bertanggung jawab atas penyajian The management is responsible for the preparation
laporan keuangan konsolidasian yang telah of consolidated financial statements which were
diselesaikan dan diotorisasi untuk terbit oleh Direksi completed and authorized for issuance by the
Perusahaan pada tanggal 28 Maret 2025. Company's Board of Directors on March 28, 2025.
152
Page 319
Page 320
2024 Introduction 2024 Performance Management Discussion and Analysis Business Activities Company Profile ANNUAL & SUSTAINABILITY REPORT POWER FOR GROWTH PT Medco Power Indonesia The Energy Building 53rd Floor SCBD Lot 11A Jl. Jend. Sudirman, Jakarta 12190 Indonesia P. +62-21 2995 3000 F. +62-21 2995 3001 Website : www.medcopower.com PT Medco Power Indonesia 152 2024 Annual & Sustainability Report
Names mentioned 121 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Ministry of Environment
p.22 ×4
unresolved
org
Ministry of Energy
p.22 ×3
unresolved
org
Ministry of Manpower
p.22 ×4
unresolved
org
PT PLN South Sumatra
p.22
unresolved
org
PT MITRA ENERGI BATAM
p.34
unresolved
org
PT DALLE ENERGY BATAM Location
p.34
unresolved
org
PT Medco Energi Menamas
p.34
unresolved
org
PT Medco Kansai Power Medco Power
p.34
unresolved
org
PT PLN Batam
p.34 ×2
unresolved
org
PT Dalle Energy Capacity
p.34
unresolved
org
PT ENERGI PRIMA ELEKTRIKA
p.34
unresolved
org
PT MULTIDAYA PRIMA ELEKTRINDO Location
p.34
unresolved
org
PT Medco Kansai Power
p.34
unresolved
org
PT Medco Kansai Power Indonesia
p.34
unresolved
org
PT PLN Enjiniring
p.34
unresolved
org
PT PLN Enjiniring Capacity
p.34
unresolved
org
PT ENERGI LISTRIK BATAM
p.34
unresolved
org
PT MEDCO RATCH POWER RIAU Location
p.34
unresolved
org
PT Universal Batam Energy
p.34
unresolved
org
PT Medco Power Sentral
p.34
unresolved
org
PT Universal Gas Energy
p.34
unresolved
org
Geothermal SARULLA OPERATIONS LTD
p.34
unresolved
org
PT MEDCO CAHAYA GEOTHERMAL Location
p.34
unresolved
org
PT Medco Geothermal Indonesia
p.34 ×2
unresolved
org
PT Ormat Geothermal Power Power Co.
p.34
unresolved
org
PT MEDCO GEOTHERMAL SUMATERA
p.34
unresolved
org
PT MEDCO POWER GEOTHERMAL ENERGI Location
p.34
unresolved
org
PT Medco Geothermal
p.34
unresolved
org
PT Medco Geothermal Nusantara Capacity
p.34
unresolved
org
PT PEMBANGKITAN PUSAKA PARAHIANGAN
p.35
unresolved
org
PT BIO JATROPHA INDONESIA Location
p.35
unresolved
org
PT Sangsaka Agro Lestari
p.35
unresolved
org
PT Dalle Panaran
p.35
unresolved
org
PT Sangsaka Hidro Selebes Capacity
p.35
unresolved
org
PT MEDCOPOWER SOLAR SUMBAWA
p.35
unresolved
org
PT MEDCOSOLAR BALI TIMUR Location
p.35
unresolved
org
PT Medcopower Energi Baru
p.35 ×2
unresolved
org
PT MEDCO SOLAR BALI BARAT
p.35
unresolved
org
PT TEKNOLOGI DATA INFRASTRUKTUR Location
p.35
unresolved
org
PT Telkom Data Ekosistem
p.35
unresolved
org
Nxera ID Pte. Ltd.
p.35
unresolved
org
PT MEDCOPOWER TRANSPORTASI LISTRIK
p.35
unresolved
org
PT MEDCO PASIFIK SOLAR TRANSMISI Location
p.35
unresolved
org
PT Medco Solar Pasifik Operation
p.35
unresolved
org
PT TJB POWER SERVICES
p.35
unresolved
org
PT MEDCO GEOTHERMAL SARULLA Location
p.35
unresolved
org
PT MEDCOPOWER SERVIS INDONESIA
p.35
unresolved
org
PT MEDCOPOWER ENERGI SERVICES Location
p.35
unresolved
org
PT MEDCOPOWER ENERGI SERVICES
p.35
unresolved
org
PT MEDCO POWER GEOTHERMAL SERVICES Location
p.35
unresolved
org
PT PLN (Persero)
p.39
unresolved
org
Ministry of Energy and Mineral Resources. In O
p.40
unresolved
org
PT Medco E
p.43 ×2
unresolved
person
Generation
· Director
p.43
unresolved
org
PT Medco Power Internasional
p.48 ×3
unresolved
org
Indonesia Stock Exchange
p.48 ×7
unresolved
org
Internasional Tbk
p.48
unresolved
org
PT Medco Power
· 58
p.48
unresolved
org
PT Medco Power Karimata
p.52
unresolved
person
Notary Maria Theresia Suprapti
p.52 ×2
unresolved
org
Purwantono
p.53 ×2
unresolved
org
Young Global Limited
p.53
unresolved
org
PT Pemeringkat Efek Indonesia
p.53
unresolved
org
PT Kustodian Sentral Efek Indonesia
p.53
unresolved
—
Darmoyo
p.58
unresolved
person
M. Teguh Pamuji
· Komisaris Independen
p.58 ×4
unresolved
—
Executive
· •
p.60
unresolved
—
Performance Assessment of Committees
· Performance Assessment Results
p.61
unresolved
—
Medco Power has one special committee under
· well in carrying out its supervisory function over the
p.61
unresolved
org
Management Committee. The Supply Chain
· performance indicators.
p.61
unresolved
org
that, throughout 2024, the Supply Chain Management
· The Board of Directors’ performance assessment
p.61
unresolved
—
Committee carried out its functions and responsibilities
· is carried out by the Board of Commissioners and
p.61
unresolved
—
well and provided the recommendations needed to
· shareholders, both individually and collegially,
p.61
unresolved
—
manage
· through the GMS. The Board of Directors’ performance
p.61
unresolved
—
Shareholders through the GMS have the right
· 4. Sustainable growth.
p.61
unresolved
—
criteria for evaluating
· Performance Assessment Results
p.61
unresolved
—
1. Level of attendance at
· achieving successes on target and adding value to the
p.61
unresolved
—
meetings and meetings with committees.
· Company. This performance assessment is guided by
p.61
unresolved
org
PT Indonesia Hijau Dwidaya
p.63
unresolved
org
PT Indonesia Hijau Papan
p.63
unresolved
person
Ferry Sanjaya
· Anggota
p.63
unresolved
—
Nomination
· and
p.65
unresolved
person
Darmoyo Doyoatmojo
· Komisaris
p.65
unresolved
org
Financial Services Authority
p.67 ×5
unresolved
—
Fajrah Lestari Akili
· Corporate Secretary
p.67
unresolved
org
PT Medco Power Indonesia No. SK-
p.67
unresolved
org
Reporting Forms
p.67
unresolved
org
PT Medco Power Indonesia SK-
p.69
unresolved
org
Ministry of Finance
p.72
unresolved
org
Minister of Energy and Mineral Resources
p.73 ×2
unresolved
org
Ministry of Environment and Forestry
p.84 ×2
unresolved
org
PT TuvNord Indonesia
p.95
unresolved
org
PT PLN Batam. Currently
p.104
unresolved
org
Ministry of Energy and Mineral Resources.
p.105
unresolved
org
Minister of Environment Regulation No. P.
p.113
unresolved
org
PT TJB Power
p.118
unresolved
org
PT MEDCO POWER INDONESIA DAN ENTITAS ANAKNYA
p.154 ×4
unresolved
org
PT Medco Power Indonesia Opini
p.157
unresolved
person
Eka Satria
· Direktur Utama
p.176
unresolved
person
Femi Firsadi Sastrena
· Direktur
p.176
unresolved
person
Imron Gazali
· Direktur
p.176
unresolved
person
Myrta Sri Utami
· Direktur
p.176
unresolved
org
PT Medco Daya Abadi Lestari.
p.176
unresolved
org
PT Medco Power Indonesia Mitsui Oil
p.305
unresolved
org
Kementerian Sumatera Barat
p.305
unresolved
org
Kementerian ESDM
p.305
unresolved
org
PT Medco Power Indonesia The Energy Building
p.320
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