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PT REMALA ABADI Tbk AND SUBSIDIARIES
Interim Financial Report
March 31, 2025 (Unaudited) and December 31, 2024 (Audited)
And For the Three-Month Period Ended March 31, 2025 (Unaudited)
(With Comparative Figures for the Three-Month Period Ended March 31, 2024
(Unaudited))
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TABLE OF CONTENTS
Page
Board of directors' statement
Consolidated statements of financial position 1-3
Consolidated statements of profit or loss and
other comprehensive income 4
Consolidated statements of changes in equity 5
Consolidated statements of cash flow 6
Notes to the consolidated financial statements 7 - 56
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PT REMALA ABADI Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
March 31, 2025 and December 31, 2024
(Expressed in Rupiah, unless otherwise stated)
Notes March 31, 2025 December 31, 2024
ASSETS
CURRENT ASSETS
Cash 2d,2m,2n,4,34 20.191.018.507 12.232.029.244
Account receivable
Third parties 2n,5,34 14.930.159.386 13.362.289.620
Related parties 2j,2n,5,33,34 2.006.382.911 2.135.074.394
Other receivables
Third parties 2n,6,34 18.645.770.000 277.000.000
Prepaid tax 2l,19a 778.323.203 715.436.662
Inventory 2e,7 87.734.533.783 67.992.377.284
Prepaid expense and advances 2f,8 16.958.978.337 8.929.327.212
Total Current Assets 161.245.166.127 105.643.534.416
NON-CURRENT ASSETS
Deferred tax assets 2l,19d 1.951.326.366 1.951.326.366
Other receivables
Third parties 2n,6,34 2.090.186.416 2.386.037.138
Fixed assets 2h,10 277.189.260.589 238.985.401.024
Right-of-use assets 2q,11 29.610.245.846 30.625.151.531
Other non-current assets 2n,9,34 1.753.023.953 1.612.948.445
Total Non-Current Assets 312.594.043.170 275.560.864.504
TOTAL ASSETS 473.839.209.297 381.204.398.920
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PT REMALA ABADI Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
March 31, 2025 and December 31, 2024
(Expressed in Rupiah, unless otherwise stated)
Notes March 31, 2025 December 31, 2024
LIABILITY AND EQUITY
SHORT-TERM LIABILITIES
Bank loan 2n,12,34 59.502.908.148 14.275.592.845
Accounts payable - third parties 2n,13,34 32.250.819.660 17.307.863.802
Accrued expenses 2n,14,34 8.808.897.043 6.947.264.704
Tax payables 2l,19b 25.004.854.306 22.376.498.573
Long term liabilities
due in one year:
Consumer financing payables 2n,2q,17,34 2.061.497.341 2.789.422.111
Lease liabilities 2n,2q,16,34 3.046.506.941 9.554.060.121
Total Short Term Liabilities 130.675.483.439 73.250.702.156
LONG TERM LIABILITIES
Other debts
Third parties 2m,15 129.728.771 762.955.856
Related parties 2j,2n,15,33,34 32.482.940.713 32.457.940.713
Long - term liabilities - after minus
the portion due in one year:
Consumer financing payables 2n,2q,17,34 1.215.742.145 1.293.412.050
Lease liabilities 2n,2q,16,34 7.067.156.814 7.067.156.814
Employee benefits liabilites 2p,18 3.299.100.099 3.299.100.099
Total Long Term Liabilities 44.194.668.542 44.880.565.532
Total Liabilities 174.870.151.981 118.131.267.688
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PT REMALA ABADI Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION
March 31, 2025 and December 31, 2024
(Expressed in Rupiah, unless otherwise stated)
Notes March 31, 2025 December 31, 2024
EQUITY
Equity attributable
to the owners of the parent entity
Share capital 20 68.750.000.000 68.750.000.000
Additional paid-in capital 21 56.857.515.587 56.857.515.587
Retained earning
Appropriated 22 2.000.000.000 2.000.000.000
Unappropriated 22 137.181.041.278 123.480.274.813
Other comprehensive income
Remeasurement of employee benefits 2p,23 120.684.881 120.684.881
Subtotal 264.909.241.746 251.208.475.281
Non-controlling interests 24 34.059.815.570 11.864.655.951
Total Equity 298.969.057.316 263.073.131.232
TOTAL LIABILITIES AND EQUITY 473.839.209.297 381.204.398.920
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PT REMALA ABADI Tbk AND SUBSIDIARIES
STATEMENTS OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME
For the Three-Month Periods Ended March 31, 2025 and 2024
(Expressed in Rupiah, unless otherwise stated)
Notes March 31, 2025 March 31, 2024
REVENUES 2k,25 86.394.572.595 78.334.987.807
COST OF GOODS SOLD 2k,26 27.398.026.091 27.677.165.579
GROSS PROFIT 58.996.546.504 50.657.822.228
Sales expenses 2k,27 (9.299.412.011) (7.308.177.514)
General and administrative expenses 2k,28 (30.902.000.376) (22.928.699.508)
Financial income 2k,29 48.547.666 24.353.822
Financial charges 2k,30 (530.109.500) (728.956.403)
Other expenses 2k,31 479.646.967 139.810.398
PROFIT BEFORE EXPENSES
INCOME TAX 18.793.219.250 19.856.153.023
INCOME TAX BENEFITS (EXPENSE)
Current 2l, 19c (4.745.556.420) (4.784.321.520)
Deferred 2l - -
Income Tax Expense - Net (4.745.556.420) (4.784.321.520)
NET PROFIT 14.047.662.830 15.071.831.503
OTHER COMPREHENSIVE INCOME
Item that will not reclassified to
profit and loss:
Remeasurement of employee benefits - -
Related income taxes - -
Other Comprehensive Income (Loss) - Net - -
NET COMPREHENSIVE PROFIT 14.047.662.830 15.071.831.503
EARNINGS PER SHARE 2s,32 9,96 13,70
Attributable net profit to:
Owner of the parent entity 13.700.766.465 15.071.831.503
Non-controlling interests 346.896.365 -
Total 14.047.662.830 15.071.831.503
Net comprehensive income
attributable to:
Owner of the parent entity 14.394.559.195 15.071.831.503
Non-controlling interests (346.896.365)
Total 14.047.662.830 15.071.831.503
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PT REMALA ABADI Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY
For the Three-Month Periods Ended March 31, 2025 and 2024
(Expressed in Rupiah, unless otherwise stated)
Equity Attributable to Owners of the Parent Entity
Retained Earnings Other
Issued Capital Additional Comprehensive Non-Controlling
and Paid Paid-in Capital Appropriated Unappropriated Income Subtotal Interest Total Equity
Balance January 1, 2024 55.000.000.000 7.271.363.600 1.000.000.000 27.890.661.326 (62.121.168) 91.099.903.758 375.549.799 91.475.453.557
Net profit for the
period/year - - - 15.071.831.503 - 15.071.831.503 - 15.071.831.503
Other equity transactions - - - - - - 30.129.049.996 30.129.049.996
Comprehensive income
others- net - - - - - - - -
Balance March 31, 2024 55.000.000.000 7.271.363.600 1.000.000.000 42.962.492.829 (62.121.168) 106.171.735.261 30.504.599.795 136.676.335.056
Balance January 1, 2025 68.750.000.000 56.857.515.587 2.000.000.000 123.480.274.813 120.684.881 251.208.475.281 11.864.655.951 263.073.131.232
Net profit for the
period/year - - - 13.700.766.465 - 13.700.766.465 346.896.365 14.047.662.830
Other equity transactions - - - - - - 21.848.263.254 21.848.263.254
Comprehensive income
others- net - - - - - - - -
Balance March 31, 2025 68.750.000.000 56.857.515.587 2.000.000.000 137.181.041.278 120.684.881 264.909.241.746 34.059.815.570 298.969.057.316
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PT REMALA ABADI Tbk AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Expressed in Rupiah, unless otherwise stated)
March 31, 2025 March 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Cash receipts from customers 84.826.702.829 41.720.608.349
Payment to suppliers (42.340.981.949) (15.758.972.947)
Payments to employees (23.303.532.175) (10.607.809.799)
Payment of other operating expenses (7.598.468.201) (4.629.435.891)
Payment of financing charges (530.109.500) (553.751.547)
Net Cash Flows Obtained from Operating Activities 11.053.611.004 10.170.638.165
CASH FLOWS FROM INVESTMENT ACTIVITIES
Cash receipts (used) to other receivables (18.072.919.278) (976.033.734)
Acquisition of fixed assets (48.126.016.896) (986.887.500)
Advance payment (8.029.651.125) (14.735.225.309)
Addition of right-of-use assets - (371.577.330)
Additional down payment for investment (600.000.000) (1.244.117.690)
Net Cash Flows Obtained from Investment Activities (74.828.587.299) (18.313.841.563)
CASH FLOWS FROM FUNDING ACTIVITIES
Other payables - related parties 25.000.000 1.215.626.250
Bank loan 19.519.205.265 (7.653.843.392)
Consumer financing debt (805.594.675) (618.628.006)
Lease liabilities (6.507.553.180) (431.026.935)
Net Cash Flows Obtained from Funding Activities 12.231.057.410 (7.487.872.083)
NET INCREASE (DECREASE) IN CASH (51.543.918.885) (15.631.075.481)
CASH AT THE BEGINNING OF THE PERIOD 12.232.029.244 9.440.496.783
CASH AT THE END OF THE PERIOD (39.311.889.641) (6.190.578.698)
Cash consist of:
Cash 20.191.018.507 10.567.588.393
Overdraft (59.502.908.148) (16.758.167.091)
Total (39.311.889.641) (6.190.578.698)
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PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
1. GENERAL
a. Establishment of the Company's and General Information
PT Remala Abadi (“Company”) was established in the Republic of Indonesia based on
Notarial Deed No. 5 of Fajra Rizqi Nasution, SH., dated March 15 2004 and has been ratified
by the Minister of Justice and Human Rights of the Republic of Indonesia in Decree No. C-
12023 HT.01.01.TH.2004 dated 13 May 2004 and announced in State Gazette No. 081
Supplement to the Republic of Indonesia State Gazette No. 031462 dated 10 October 2023.
The Company's Articles of Association have undergone several changes, most recently
based on Deed No. 45 dated 15 November 2023 by Notary Elizabeth Karina Leonita, SH.,
M.Kn., Notary in South Jakarta, which has received approval from the Minister of Law and
Human Rights of the Republic of Indonesia in Decree No. AHU-0071258.AH.01.02.TAHUN
2023 dated November 17, 2023 and has been received by the Minister of Law and Human
Rights based on letter No. AHU-AH.01.09-0186388 and letter No. AHU-AH.01.03-0143300
dated November 17, 2023 .
According to Article 3 of the Company's Articles of Association, the Company operates in the
trade and services sector, namely trading computers and computer equipment, software and
internet service providers. Currently, the Company operates in the internet service provider
sector. The Company started its commercial business activities in 2004. The Company's
domicile is at Graha Mustika Ratu Fl. GF, Jl. Gatot Subroto No.74 - 75, South Jakarta, while
the operational locations or marketing offices are in 3 (three) locations spread across Central
Jakarta, East Jakarta and Bekasi.
The controlling shareholder of the Company is Verah Wahyudi Singgih Wong.
b. Initial Public Offering
On April 26, 2024, the Company obtained an effective statement from the Financial Services
Authority (OJK) with its letter No. S-58/D.04/2024 to conduct an Initial Public Offering of
275,000,000 shares with a nominal value of Rp50 per share at an offering price of Rp188 per
share. On May 7, 2024, the shares were listed on the Indonesia Stock Exchange.
c. Boards of Commissioners and Directors, Audit Committee, and Employees
The composition of the Company's Board of Commissioners and Directors as of March 31,
2025 and December 31, 2024 is as follows:
Board Commissioners
The Main Commissioner : Verah Wahyudi Singgih Wong
Independent Commissioner : Ahmad Alamsyah Saragih, SE
Directors
President Director : Richard Kartawijaya
Director of Finance : Samuel Adi Mulia
On February 26, 2024, the Board of Directors of the Company has appointed Maureen
Graciela as Corporate Secretary based on Decision Letter No. 023/CS/RA/IPO/DIR/II/2024.
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PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
1. GENERAL (contined)
c. Boards of Commissioners and Directors, Audit Committee, and Employees (continued)
The composition of the Company's Audit Committee as of March 31, 2025 and December 31,
2024 is as follows:
Chairman : Ahmad Alamsyah Saragih, SE
Member : Sudarmana
Member : Sundara Ichsan
As of March 31, 2025, the Company and its subsidiaries (hereinafter collectively referred to
as the “Group”) had a total of 53 permanent employees.
d. Subsidiary Entity Structure
As of March 31, 2025 the Company has Subsidiaries with direct ownership as follows:
Total Assets Before
Elimination
Ownership
Date Position and Percentage (In million Rupiah)
Business Establishme Business Year March 31 March 31
Subsidiaries fields nt Commercial 2025 2024 2025 2024
Direct Ownership
PT PC 24 Cyber Internet January 6, Bekasi, Jawa 99% 99% 34.804 29.506
Indonesia (PC 24) Service 2006 Barat / 2006
Provider
PT Solusi Aplikasi Trade and August 19, Jakarta Timur / 88% 88% 441 636
Andalan Semesta Programming 2021 Not yet
(SAAS) computer operational
PT Akselerasi Informasi Trading January 27, Jakarta Selatan / 51% 50% 249 221
Indonesia (AII) 2023 Not yet
operational
PT Fiber Kerumah Trading September 1, Jakarta Selatan / 51% 0% 52.662 -
Indonesia (FKI) 2023 Not yet
operational
PT Fiber Media Internet 4 Agustus Jakarta Selatan / 85% 85% 77.606 50.616
Indonesia (FMI) Service 2010 2010
Provider
Indirect Ownership
PT Jaringan Fiber Trading 27 Agustus Bekasi, Jawa 100%*) 100%*) 1.597 1.683
Indonesia (JFI) 2021 Barat / 2022
*) Owned by FMI, the Company and PC 24 by 75%, 15% and 10% respectively.
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PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
1. GENERAL (contined)
d. Subsidiary Entity Structure (continued)
PT PC 24 Cyber Indonesia ("PC 24")
The Company established PT PC 24 Cyber Indonesia (“PC 24”) based on Notarial Deed No.
2 by Anita Munaf, SH., dated January 6 2006 and has been ratified by the Minister of Law
and Human Rights of the Republic of Indonesia in Decree No. C-02103 HT.01.01.TH.2006
dated 24 January 2006. The Articles of Association of PC 24 have undergone several
changes, most recently based on Notarial Deed No. 4 dated 10 June 2020 by Rpiansyah
Rizal, SH, M.Kn., regarding additions to the aims and objectives of business activities. This
change has been approved by the Minister of Law and Human Rights in Decree No. AHU-
0040319.AH.01. 02. TAHUN 2020 dated June 13 2020.
PC 24 is engaged in cable telecommunications, computer programming activities, electrical
and other telecommunications network construction, as well as wholesale and retail trade,
namely trade in computers and computer equipment, as well as software. PC 24's domicile is
in Bekasi City , West Java. Currently, PC 24 operates in the internet service provider sector
and started its commercial business activities in 2006.
The Company share ownership in PC 24 is 99%.
PT Solusi Aplikasi Andalan Semesta ("SAAS")
The Company established PT Solusi Aplikasi Andalan Semesta (“SAAS”) based on Notarial
Deed No. 8 by Rpiansyah Rizal, SH, M.Kn., dated 29 August 2021 and has been ratified by
the Minister of Law and Human Rights of the Republic of Indonesia in Decree No. AHU-
0052254.AH.01. 01.TAHUN 2021 dated 24 August 2021 with the following composition of
shareholders:
a) Company amounting to Rp400,000,000 or 400 shares.
b) Tri Sefti Adi amounting to Rp50,000,000 or 50 shares.
c) Nur Rakhmad Setiawan amounting to Rp50,000,000 or 50 shares.
Furthermore, based on Notarial Deed No. 8 dated 20 May 2022 by Novita Sari Sianturi, SH,
M.Kn., and has been accepted by the Minister of Law and Human Rights in the Letter of
Acceptance of Notification of SAAS Data Changes No. AHU-AH.01.09-0016330 dated 28
May 2022. SAAS shareholders approved the sale/transfer of all shares owned by Nur
Rakhmad Setiawan, totaling 30 shares to Moh Reza Pahlevi and 20 shares to the Company,
as well as the sale/ transfer of 20 shares belonging to Tri Sefti Adi to the Company, so that
the composition of SAAS shareholders is as follows:
a) Company amounting to Rp440,000,000 or 440 shares.
b) Tri Sefti Adi amounting to Rp30,000,000 or 30 shares.
c) Moh Reza Palevi amounting to Rp30,000,000 or 30 shares.
SAAS is engaged in wholesale trading and computer programming activities. SAAS domicile
is in East Jakarta. SAAS has not yet started its commercial business activities.
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PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
1. GENERAL (contined)
d. Subsidiary Entity Structure (continued)
PT Solusi Aplikasi Andalan Semesta ("SAAS") (continued)
The Company capital deposit in SAAS was made on December 13, 2022 amounting to Rp
1,000,000 and in March - June 2023 amounting to Rp 439,000,000. Based on Notarial Deed
No. 11 dated 7 November 2023, the shareholders decided to provide dispensation and
ratification for the delay in fulfilling capital deposit obligations by SAAS shareholders. In
connection with this, SAAS was consolidated into the Company starting November 7, 2023.
PT Akselerasi Informasi Indonesia ("AII")
The Company established PT Akselerasi Informasi Indonesia (“AII”) based on Notarial Deed
No. 18 by Kumala Tjahjani Widodo, SH, MH., M.Kn., dated January 27 2023 and has been
ratified by the Minister of Law and Human Rights of the Republic of Indonesia in Decree No.
AHU-0007657.AH.01. 01.TAHUN 2023 dated January 31, 2023 with the Company's
ownership in SAAS amounting to 50% (equivalent to Rp125,000,000 or 125 shares).
AII operates in the fields of wholesale trade and information and communication. AII's
domicile is in South Jakarta. AII has not yet started its commercial business activities. The
Company's capital contribution to AII was made on March 14 2023 amounting to Rp
16,390,000 and on July 28 2023 amounting to Rp108,610,000. Based on Notarial Deed No.
60 dated November 17 2023, the shareholders decided to provide dispensation and
ratification for the delay in fulfilling capital deposit obligations by AII shareholders. In
connection with this, AII was consolidated into the Company starting November 17 2023.
Based on the Deed of Resolution of the Shareholders of AII by Notary Elizabeth Karina
Leonita, S.H., M.Kn., No. 32 dated May 8, 2024, the shareholders of AII approved the transfer
of 125 shares owned by Richard Kartawijaya to the Company and also approved the increase
in paid-up capital from Rp250,000,000 to Rp3,000,000,000 taken by the Company and PT
Darpa Balakosa Semesta. So that the composition of AII's shareholders becomes as follows:
a) The Company amounted to Rp1,530,000,000 or 1,530 shares.
b) PT Darpa Balakosa Semesta amounting to Rp1,470,000,000 or 1,470 shares.
PT Fiber Kerumah Indonesia ("FKI")
FKI is engaged in wholesale trade and information and communication. FKI's domicile is in
West Jakarta. FKI has not yet commenced its commercial business activities. Based on
Notarial Deed of Elizabeth Karina Leonita, S.H., M.Kn., No. 5 dated June 3, 2024, an
increase in share capital from Rp200,000,000 (two hundred million Rupiah) to
Rp6,200,000,000 (six billion two hundred million Rupiah) was approved. So that the
composition of FKI's shareholders becomes as follows:
a) Company amounting to Rp6,004,000,000 or 6.004 shares.
b) Mr. Iman Taufik amounting to Rp196,000,000 or 196 shares.
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PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
1. GENERAL (contined)
d. Subsidiary Entity Structure (continued)
PT Fiber Kerumah Indonesia ("FKI") (continued)
Based on the Deed of Resolution of the Shareholders of FKI by Notary Elizabeth Karina
Leonita, S.H., M.Kn., No. 129 dated November 28, 2024, the shareholders of FKI approved
the transfer of 196 shares owned by Iman Taufik to Wukong Technology Partners Limited
and also approved an increase in paid-up capital from Rp6,200,000,000 to Rp50,000,000,000
which was taken by the Company and Wukong Technology Partners Limited. So that the
composition of FKI's shareholders becomes as follows:
a) The Company amounted to Rp25,500,000,000 or 25,500 shares.
b) Wukong Technology Partners Limited amounting to Rp24,500,000,000 or 24,500
shares.
PT Fiber Media Indonesia ("FMI")
FMI is engaged in, among others: construction of magnetic media and optical media; trading
of telecommunications equipment; and information and communications. FMI is domiciled in
Bekasi, West Java. FMI started its commercial business activities in 2022.
Based on Notarial Deed of Elizabeth Karina Leonita, S.H., M.Kn., No. 19 dated August 6,
2024, the transfer of rights to shares owned by Budi Aditya Erna Mulyanto to the Company
with a nominal value of Rp850,000,000 or 85% of FMI's capital was approved with a total
consideration transferred of Rp20,000,000,000. This acquisition transaction is a business
combination of entities under common control due to the same ultimate controller between
the Company and FMI which is accounted for in accordance with PSAK 338.
PT Jaringan Fiber Indonesia ("JFI")
JFI was established in the Republic of Indonesia based on Notarial Deed No. 11 by Nova
Helida, S.H., dated August 27, 2021 and has been approved by the Minister of Law and
Human Rights of the Republic of Indonesia in Decree No. AHU-0056749.AH.01.01.TAHUN
2021 dated September 11, 2021 and announced in State Gazette No. 081 Supplement No.
031467 dated October 10, 2023.
In accordance with article 3 of the Articles of Association, JFI is engaged in, among others:
construction of magnetic media and optical media; trading of telecommunications equipment;
and information and communications. The Company is domiciled in Bekasi, West Java. The
Company commenced its commercial business activities in 2022.
Based on Notarial Deed No. 8 dated May 24, 2023 by Idriansyah Rizal, SH, M.Kn, which was
approved by the Minister of Law and Human Rights of the Republic of Indonesia in Decree
No. AHU-AH.01.09-0120645 dated May 25, 2023, the shareholders of JFI approved the sale
and purchase of 1,300 shares owned by Ferdi Agus Riyanto to FMI, so that the shareholder
structure of JFI is as follows:
a) FMI as many as 1,500 shares with a value of Rp1,500,000,000.
b) The Company as many as 300 shares with a value of Rp300,000,000.
c) PC 24 totaling 200 shares with a value of Rp200,000,000.
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PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
1. GENERAL (contined)
d. Subsidiary Entity Structure (continued)
PT Mitra Integrasi Bersama ("MIB")
MIB was established in the Republic of Indonesia based on Notarial Deed No. 11 by Daniar
Wasdiana, S.H., M.Kn., dated December 10, 2024 and has been approved by the Minister of
Law and Human Rights of the Republic of Indonesia in Decree No. AHU-
0000571.AH.01.01.TAHUN 2025 dated January 10, 2025.
In accordance with article 3 of the Articles of Association, MIB is engaged in the construction
of telecommunication centers and telecommunication activities with cables. MIB is domiciled
in North Jakarta. MIB has not yet started its commercial business activities.
As of March 31, 2025, the capital of MIB has not been deposited by the Company and
therefore has not been consolidated.
2. MATERIAL ACCOUNTING POLICY INFORMATION
a. Basis of Preparation of the Consolidated Financial Statements
The consolidated financial statements have been prepared and presented in accordance with
Financial Accounting Standards (“SAK”), which comprise the Statements (“PSAK”) and
Interpretations (“ISAK”) issued by the Board of Financial Accounting Standards of the
Indonesian Institute of Accountants and the Board of Syariah Accounting Standards of the
Indonesian Institute of Accountants, and regulations of capital market regulator.
The accounting policies applied in the preparation of the consolidated financial statements as
at March 31, 2025 are consistent with those applied in the preparation of the consolidated
financial statements of the Group as at December 31, 2024.
The consolidated financial statements, except for the consolidated statements of cash flows,
have been prepared on an accrual basis of accounting using the historical cost concept,
except for certain accounts that are measured on the other bases as described in the related
accounting policies.
The consolidated statements of cash flows are prepared using the direct method, and
classified into operating, investing and financing activities.
The following are amendments to standards that are effective for financial years beginning on
or after January 1, 2025 but have no impact on the consolidated financial statements are as
follows:
1. Amendments to PSAK 201: “Presentation of Financial Statements” regarding liabilities
classified as short-term or long-term, as well as disclosure of accounting policies.
2. Amendment to PSAK 216: “Fixed Assets”.
3. Amendment to PSAK 208: “Accounting Policies, Changes in Accounting Estimates and
Errors” regarding the definition of accounting estimates.
4. Amendment to PSAK 212: “Income Taxes” on deferred tax related to assets and
liabilities arising from a single transaction. liabilities arising from a single transaction.
12
Page 16
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
a. Basis of Preparation of the Consolidated Financial Statements (continued)
The implementation of these standards had no impact on the amounts reported in the current
or prior year.
DSAK-IAI also endorsed changes in the numbering of PSAK and ISAK effective January 1,
2024, where these changes do not affect the substance of the arrangements in the respective
PSAK and ISAK.
b. Principles of Consolidation
The Group applies PSAK No. 110 “Consolidated Financial Statements”. The consolidated
financial statements combine all Subsidiaries controlled by the Company. Control is obtained
when the Company (investor) is exposed to or has rights to variable returns from its
involvement with the investee and has the ability to influence those returns through its power
over the investee .
Thus, an investor controls an investee if, and only if, the investor owns all of the following:
(a) power over the investee;
(b) exposure or rights to variable returns from its involvement with the investee ; and
(c) the ability to use its power over the investee to influence the amount of the investor's
returns.
Consolidation of an investee commences from the date the investor obtains control of the
investee and ends when the investor loses control of the investee.
Non-controlling interests represent the portion of profit or loss and net assets not attributable
to the parent entity and are presented separately in the consolidated statements of profit or
loss and other comprehensive income and equity in the consolidated statements of financial
position, separated from equity attributable to the parent entity.
All comprehensive income is attributed to owners of the parent and to non-controlling
interests even if this results in the non-controlling interests having a deficit balance.
Changes in the parent's interest in a subsidiary that do not result in a loss of control are
accounted for as equity transactions, whereby the carrying amounts of the controlling and
non-controlling interests are adjusted to reflect the change in their relative interests in the
subsidiary. The difference between the amount of the adjusted non-controlling interest and
the fair value of the consideration given or received is recognized directly in equity and
attributed to owners of the parent.
All material account balances and transactions between consolidated entities have been
eliminated.
13
Page 17
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
b. Principles of Consolidation (continued)
If a parent entity loses control of a subsidiary, then the parent entity:
(a) derecognize the assets (including any goodwill ) and liabilities of the former subsidiary
from the consolidated statement of financial position.
(b) recognize the remaining investment in the former subsidiary at its fair value at the date
of loss of control, and then record the remaining investment and any amounts owed by
or to the former subsidiary. The fair value is considered to be the fair value on initial
recognition of the financial asset or, if appropriate, the cost on initial recognition of the
investment in the associate.
(c) recognize a gain or loss related to the loss of control that is attributable to the former
controlling interest.
c. Business Combination
Business acquisitions are accounted for using the acquisition method. The consideration
transferred in a business combination is measured at fair value which is calculated as the
sum of the acquisition-date fair values of all assets transferred by the Group, liabilities
recognized by the Group to the former owners of the acquiree and the equity interests issued
by the Group in exchange for control of the acquiree. Acquisition-related costs are recognized
in profit or loss as incurred.
Restructuring of entities under common control
Acquisitions or transfers of shares between entities under common control are accounted for
in accordance with PSAK 338, “Business Combinations of Entities under Common Control”.
Transfers of assets, liabilities, shares and other ownership instruments of entities under
common control do not result in gain or loss for the company or individual entities within the
same group.
Since business combination transactions of entities under common control do not result in a
change in the economic substance of ownership of the assets, liabilities, shares or other
ownership instruments exchanged, the transferred assets or liabilities are recognized at their
carrying amounts as a business combination using the pooling-of-interests method.
In applying the pooling of interests method, the components of the financial statements for
the period in which the restructuring occurred and for other periods presented for comparative
purposes are presented as if the restructuring had occurred since the beginning of the
financial statements period presented. The difference between the carrying amount of the
investment at the effective date and the transfer price is recognized as part of “Additional
Paid-in Capital” account in equity in the consolidated statements of financial position.
d. Cash and bank
Cash consists of cash and bank balances, and is not used as collateral or restricted in use.
14
Page 18
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
e. Inventories
The Group applies PSAK No. 202 “Inventory”. Inventories are stated at the lower of cost or
net realizable value. Net realizable value is the estimated selling price in normal business
activities minus estimated completion costs and estimated costs required for the sale.
Cost is determined using the First In, First Out method. Provision for obsolete inventory is
determined based on the results of a review of the condition of inventories at the end of the
reporting period.
f. Prepaid expenses
Prepaid expenses are amortized over their useful lives using the straight-line method.
g. Investment in Associated Entities
The Group applies PSAK No. 228 “Investment in associates and joint ventures”. An
associated entity is an entity over which the Group has significant influence and is not a
subsidiary or participating part in a joint venture. Ownership, directly or indirectly, of 20% or
more of an investee's voting rights is considered ownership of significant influence, unless it
can be clearly proven to the contrary.
Investments in associates are accounted for using the equity method, where they are initially
recognized at cost. Furthermore, the Group's share of the profit or loss of the associate, after
any necessary adjustments for the effects of uniform accounting policies and elimination of
profits or losses resulting from transactions between the Group and the associate, will
increase or decrease the carrying amount of the investment and be recognized as profit or
loss of the Group. Receipt of distributions from associates reduces the carrying amount of the
investment.
Adjustments to the carrying amount are also required if there is a change in the proportion of
the Group's share of the associated entity arising from other comprehensive income of the
associated entity. The Group's share of such changes is recognized in other comprehensive
income of the Group.
Goodwill related to the acquisition of an associate is included in the carrying amount of the
investment. If there is negative goodwill , then the amount is recognized in profit or loss.
Goodwill is not amortized and is tested for impairment annually.
If the carrying value of an investment has reached zero, further losses will be recognized only
if the Group has a commitment to provide funding assistance or guarantee the obligations of
the associated entity concerned.
If an investment in an associate becomes an investment in a joint venture or vice versa, then
the entity continued to apply the equity method and did not remeasure the remaining interest.
Changes in investment value caused by changes in the value of equity in the associated
entity arising from capital transactions in the associated entity with third parties are
recognized as other comprehensive income and will be recognized as income or expense
when the investment in question is disposed of.
15
Page 19
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
h. Fixed assets
The Group applies PSAK No. 216 “Fixed Assets”. The Group has chosen to use the cost
model as its fixed asset measurement accounting policy. Depreciation is calculated using the
straight-line method over the useful life of the asset. The estimated useful life of fixed assets
is as follows:
Estimated Useful Life Percentage
Building 20 years 5%
Vehicle 8 years 12,5%
Office equipment 4 and 8 years 25% and 12,5%
Network infrastructure 8 years 12,5%
The useful lives of fixed assets and depreciation methods are reviewed and adjusted, as
appropriate, at the end of each reporting period.
Land is stated at cost and is not depreciated.
ISAK No. 25, “Land Rights”, stipulates that the costs of legal processing of land rights in the
form of Business Use Rights (“HGU”), Building Use Rights (“HGB”) and Use Rights (“HP”)
when land is first acquired are recognized as part of the land acquisition cost in the “Fixed
Assets” account and is not amortized. Meanwhile, processing costs for the extension or legal
renewal of land rights in the form of HGU, HGB and HP are recognized as part of the
"Deferred Expenses - Net" account in the consolidated statement of financial position and are
amortized over the shorter of the legal life and economic life of the land.
Repair and maintenance expenses are charged to profit or loss when incurred; Significant
replacement or inspection costs are capitalized when incurred and when it is probable that
future economic benefits relating to the asset will flow to the Group, and the cost of the asset
can be measured reliably. Fixed assets are derecognized when they are disposed of or when
no future economic benefits are expected from their use or disposal. Gains or losses arising
from derecognition of an asset are included in profit or loss in the period the asset is
derecognised.
i. Decrease in the Value of Non-Financial Assets
The Group applies PSAK No. 236 “Impairment of Asset Value”. At the end of each reporting
period, the Group assesses whether there are indications that assets are impaired. If there is
such an indication, the Group estimates the recoverable amount of the asset. The
recoverable amount of an asset or cash- generating unit is the higher of its fair value less
costs of disposal and its value in use. If the recoverable amount of an asset is less than its
carrying amount, then the carrying amount of the asset is reduced in value to its recoverable
amount. An impairment loss is recognized immediately in profit or loss.
A reversal of an impairment loss for a non-financial asset is recognized if, and only if, there
has been a change in the estimates used in determining the asset's recoverable amount
since the last impairment test was recognized. Reversal of an impairment loss is recognized
immediately in profit or loss, unless the asset is presented at a revalued amount.
16
Page 20
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
j. Transactions with Related Parties
The Group discloses transactions with related parties based on PSAK No. 224 “Related Party
Disclosures”. A party is considered related to the Group if:
1) The person or immediate family member has a relationship with the reporting entity if the
person:
(i) has control or joint control over the reporting entity;
(ii) has significant influence over the reporting entity; or
(iii) key management personnel of the reporting entity or the reporting entity's parent
entity.
2) An entity is related to the reporting entity if it fulfills one of the following:
(i) The entity and the reporting entity are members of the same business group
(meaning the parent entity, subsidiary entity and subsequent subsidiaries are
related to another entity).
(ii) One entity is an associated entity or joint venture of another entity (or an
associated entity or joint venture that is a member of a business group, of which
the other entity is a member).
(iii) Both entities are joint ventures of the same third party.
(iv) One entity is a joint venture of a third entity and the other entity is an associate
entity of the third entity.
(v) The entity is a post-employment benefits program for employee benefits from one
of the reporting entities or an entity related to the reporting entity. If the reporting
entity is the entity that organizes the program, then the sponsoring entity is also
related to the reporting entity.
(vi) Entities controlled or jointly controlled by the person identified in number (1).
(vii) The person identified in item (1)(i) has significant influence over the entity or key
management personnel of the entity (or the parent entity of the entity).
(viii) The entity, or a member of a group of which the entity is part, provides key
personal management services to the reporting entity or to the parent entity of the
reporting entity.
All significant transactions with related parties are disclosed in the notes to the consolidated
financial statements.
k. Revenues and Expenses Recognition
The Group recognizes revenues in accordance with PSAK No. 115, “Revenue from Contracts
with Customers”, by performing transaction analysis through the five steps of revenue
recognition model as follows:
1) Identifying contracts with customers, where the Group records contracts with customers
only if all of the following criteria are met:
• The contract has been agreed to by the parties to the contract.
• The Group can identify the rights of the parties and payment terms for the goods to
be transferred.
• The contract has commercial substance.
• It is likely that the Group will receive compensation for the goods transferred.
17
Page 21
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
k. Revenues and Expenses Recognition (continued)
The Group recognizes revenues in accordance with PSAK No. 115, “Revenue from Contracts
with Customers”, by performing transaction analysis through the five steps of revenue
recognition model as follows: (continued)
2) Identify performance obligations in the contract.
3) Determine the transaction price.
4) Allocate the transaction price to each performance obligation.
5) Recognize revenue when performance obligations have been fulfilled (at a certain time
or over time).
Expenses are recognized when they occur ( accrual basis ).
l. Income tax
The Group applies PSAK No. 212 “Income Tax”. Current tax expense is determined based on
the estimated
Income tax in the current period's profit and loss consists of current and deferred taxes.
Income tax is recognized in profit or loss, except for transactions related to transactions
recognized directly in equity or other comprehensive income, in which case it is recognized in
equity or other comprehensive income.
Current tax assets and current tax liabilities are offset if, and only if, the entity has a legally
enforceable right to offset the recognized amounts; and has the intention to settle on a net
basis, or realize the asset and settle the liability simultaneously.
Deferred tax assets and liabilities are recognized for temporary differences between assets
and liabilities for commercial purposes and for tax purposes at each reporting date. Deferred
tax assets are recognized for all deductible temporary differences to the extent that it is
probable that the deductible temporary differences can be utilized to reduce fiscal profit in the
future. Future tax benefits, such as unused fiscal loss balances, are recognized to the extent
that it is probable that the tax benefits will be realized.
Deferred tax assets and liabilities are measured at the tax rates that are expected to be used
in the period when the asset is realized or when the liability is settled based on the tax rates
(and tax regulations) that are in effect or substantially enacted at the end of the reporting
period.
Deferred tax assets and deferred tax liabilities are offset if, and only if, the entity has the legal
right to offset current tax assets against current tax liabilities, and deferred tax assets and
deferred tax liabilities relate to income taxes imposed by tax authorities on taxable entity, the
same or a different taxable entity that intends to recover current tax assets and liabilities on a
net basis, or realize assets and settle liabilities simultaneously, in any future period in which a
significant amount of deferred tax assets or liabilities is expected to be settled or restored.
18
Page 22
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
l. Income tax (continued)
Changes to tax obligations are recognized when the tax assessment is received and/or, if the
Group submits an objection and/or appeal, when the decision on the objection and/or appeal
has been determined.
m. Transactions and Balances in Foreign Currency
The Group applies PSAK No. 221 "Effect of Changes in Foreign Exchange Rates".
Transactions in foreign currency are translated into functional currency at the exchange rate
in effect at the time the transaction is made. At the end of the reporting period, monetary
assets and liabilities denominated in foreign currency are adjusted into the functional currency
using the middle rate determined by Bank Indonesia on the last date of banking transactions
in that period. Gains or losses arising from exchange rate adjustments or settlement of
monetary assets and liabilities in foreign currencies are credited or charged to profit or loss
for the current period.
The closing rates used as of March 31, 2025 and December 31, 2024 against 1USD were
Rp16,588 and Rp16,162, respectively.
n. Financial instruments
The Group applies PSAK No. 109 “Financial Instruments”. The Group recognizes financial
assets and liabilities in the consolidated statement of financial position if, and only if, the
Group is a party to the contractual provisions of the financial instrument.
1. Financial assets
The Group classifies its financial assets in the following categories:
• measured at amortized cost; and
• measured at fair value through other comprehensive income or measured through
profit or loss.
This classification depends on the Group's business model and cash flow contractual
requirements.
a) Financial assets are measured at amortized cost
This classification applies to debt instruments that are managed in a business
model held for cash flow and have cash flows that meet the criteria “solely from
principal and interest payments”.
At initial recognition, trade receivables that do not have a significant funding
component are recognized at the transaction price. Other financial assets are
initially recognized at fair value less related transaction costs. These financial
assets are then measured at amortized cost using the effective interest rate
method. Gains or losses on retirement or modification of financial assets carried at
amortized cost are recognized in profit or loss.
19
Page 23
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
n. Financial instruments (continued)
1. Financial assets (continued)
b) Financial assets are measured at fair value through other comprehensive income
This classification applies to the following financial assets:
(i) Debt instruments managed with a business model that aims to own financial
assets in order to obtain contractual cash flows and sell and where the cash
flows meet the criteria "solely from principal and interest payments".
Changes in the fair value of these financial assets are recorded in other
comprehensive income, except for the recognition of impairment gains or
losses, interest income (including transaction costs using the effective interest
rate method), gains or losses arising from derecognition, and gains or losses
from foreign exchange differences are recognized on profit and loss.
When a financial asset is derecognised, the cumulative fair value gain or loss
previously recognized in other comprehensive income is reclassified to profit
or loss.
(ii) Equity investments for which the Group has irrevocably elected to present fair
value gains and losses from revaluation in other comprehensive income..
Options may be based on individual investments, however, they do not apply
to equity investments held for trading. Fair value gains or losses from
revaluation of equity investments, including the foreign exchange component,
are recognized in other comprehensive income. When an equity investment is
derecognised, fair value gains or losses previously recognized in other
comprehensive income are not reclassified to profit or loss. Dividends are
recognized in profit or loss when the right to receive payment has been
established.
c) Financial assets are measured at fair value through profit or loss
This classification applies to the following financial assets, where in all cases
transaction costs are charged to profit or loss:
(i) Debt instruments that do not have amortized cost or fair value through other
comprehensive income criteria. Fair value gains or losses will then be
recorded in profit or loss.
(ii) Equity investments held for trading or for which other comprehensive income
options do not apply. Fair value gains or losses and related dividend income
are recognized in profit or loss.
20
Page 24
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
n. Financial instruments (continued)
1. Financial assets (continued)
A financial asset is derecognized when the contractual rights to cash flows from the
financial asset have expired or have been transferred and the Group has transferred
substantially all the risks and rewards of ownership of the asset. Upon derecognition of a
financial asset, the difference between the carrying amount and the consideration
received is recognized in profit or loss.
Decrease in the Value of Financial Assets
A review of expected future credit losses is required for: debt instruments measured at
amortized cost or measured at fair value through other comprehensive income and trade
receivables that do not provide an unconditional right to receive consideration.
The Group recognizes a provision for impairment losses for expected credit losses on
financial assets measured at amortized cost. Provision for impairment losses on trade
receivables is measured at an amount equal to the expected credit loss over its life.
Lifetime expected credit loss is the expected credit loss resulting from all possible
default events over the expected life of a financial instrument.
When determining whether the credit risk of a financial asset has increased significantly
since initial recognition and when estimating expected credit losses, the Group considers
relevant information that is reasonable and verifiable and available without undue
expense or effort. It includes quantitative and qualitative information and analysis, based
on the Group's historical experience and credit assessments and includes forward-
looking information.
The Group considers a financial asset to be in default when a customer is unable to pay
its credit obligations to the Group in full. The maximum period considered when
estimating expected credit losses is the maximum contractual period over which the
Group is exposed to credit risk.
Expected credit loss is a probability-weighted estimate of credit loss. Credit losses are
measured as the present value of all cash receipt shortfalls (i.e. the difference between
the cash flows owed from an entity under the contract and the cash flows it is expected
to receive). Expected credit losses are discounted at the effective interest rate of the
financial asset.
2. Financial Liabilities
At initial recognition, the Group measures financial liabilities at fair value plus or minus
transaction costs directly related to the acquisition or issuance of the financial liability.
The Group classifies all its financial liabilities into the category of financial liabilities
measured at amortized cost.
21
Page 25
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
n. Financial instruments (continued)
2. Financial Liabilities (continued)
After initial recognition, financial liabilities are subsequently measured at amortized cost
using the effective interest rate method. Gains or losses are recognized in profit or loss
when the financial liability is derecognized or impaired, and through the amortization
process.
The Group excludes financial liabilities from its consolidated statement of financial
position if, and only if, the obligations specified in the contract are discharged or
canceled or expire. The difference between the carrying amount of financial liabilities
that expire or are transferred to another party, and the consideration paid, including non-
cash assets transferred or liabilities assumed is recognized in profit or loss.
3. Offsetting of Financial Instruments
Financial assets and financial liabilities are offset and the net amount is reported in the
consolidated statement of financial position if, and only if, they currently have a legally
enforceable right to set off the recognized amount and there is an intention to settle it on
a net basis, or to realize the asset and settle its obligations simultaneously.
o. Fair Value Measurement
The Group applies PSAK No. 113 “Fair Value Measurement”. The fair value of financial
instruments traded in an active market at each reporting date is determined by reference to
market price quotations or securities dealer price quotations (bid price for buy positions and
ask price for sell positions), excluding any deductions for transaction costs.
For financial instruments that do not have an active market, fair value is determined using
valuation techniques. Valuation techniques include the use of recent market transactions
carried out fairly by willing and understanding parties ( recent arm's length market
transactions ), the use of recent fair values of other instruments that are substantially the
same, discounted cash flow analysis, or other valuation models.
p. Employee Benefits
Short term employee benefits
Short-term employee benefits are compensation provided by the Group such as salaries,
allowances, bonuses and pension benefit payments, which are recognized when they are
owed to employees.
22
Page 26
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
p. Employee Benefits (continued)
Post-employment benefits
On February 2 2021, the Government promulgated and enforced Government Regulation no.
35 of 2021 (PP 35/2021) to implement the provisions of Article 81 and Article 185(b) of
Law no. 11/2020 concerning Job Creation, which aims to create as many job opportunities as
possible for the Indonesian people equally, in order to fulfill a decent life. PP 35/2021
regulates outsourcing agreements, working time, rest time and termination of employment,
which can affect the minimum compensation benefits that must be paid to employees. PSAK
No. 219 requires entities to use the “ Projected Unit Credit ” method to determine the present
value of defined benefit obligations, related current service costs and past service costs.
When the Group has a surplus under its defined benefit plan, the Group measures its defined
benefit assets at the lower of the defined benefit plan surplus and the asset ceiling
determined using a discount rate.
The Group recognizes the cost component of defined benefits, unless SAK requires or
permits such costs as asset acquisition costs, as follows:
(a) service costs in profit and loss;
(b) net interest on net defined benefit liabilities (assets) in profit or loss; and
(c) remeasurement of the net defined benefit liability (asset) in other comprehensive
income.
Remeasurement of the net defined benefit liability (asset) recognized in other comprehensive
income is not reclassified to profit or loss in the following period. However, the Group may
transfer the amount recognized as other comprehensive income to other items in equity.
Net interest is calculated by applying the discount rate to the net defined benefit liability or
asset. Service costs consist of current service costs and past service costs, curtailment gains
and losses and non-routine settlements, if any. Net interest expense or income, and service
costs are recognized in profit or loss.
The Group recognizes past service costs as an expense at the earlier of the date when the
plan amendment or curtailment occurs and when the Group recognizes the related
restructuring costs or severance pay. The Group recognizes gains or losses on settlement of
defined benefit plans when settlement occurs.
A curtailment occurs when the Group significantly reduces the number of employees covered
by a plan, or changes the terms of a defined benefit plan so that a significant element of the
future service of current employees will no longer be eligible for benefits, or will be eligible
only for reduced benefits.
23
Page 27
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
q. Lease
The Group applies PSAK No. 116, “Lease”.
Group as tenant
The Group applies a single recognition and measurement approach for all leases, except for
short-term leases and leases of low-value assets. The Group recognizes a lease liability to
make lease payments and a right-of-use asset representing the right to use the underlying
asset.
Right-of-use assets
Right-of-use assets are measured at cost, less accumulated depreciation and impairment.
The cost of a right-of-use asset includes the measured amount of the lease liability, initial
direct costs incurred by the lessee, and lease payments made on or before the
commencement date, less any rental incentives received. Right-of-use assets are
depreciated over the shorter of the useful life of the right-of-use asset or the lease term.
Lease liabilities
Lease liabilities are measured at the present value of outstanding rental payments. Each
rental payment is allocated between the portion of the liability settlement and the finance
costs. Lease liabilities are presented as long-term liabilities except for the portion due in 12
months or less which is presented as short-term liabilities. The interest element in finance
costs is charged to profit or loss over the lease term resulting in a constant interest rate on
the balance of the liability.
The Group does not recognize right-of-use assets and lease liabilities for:
• short-term rentals that have a lease term of 12 months or less; or
• leases whose assets are of low value. Payments made for the lease are charged to profit
or loss on a straight-line basis over the lease term.
Group as lessor
If the Group has assets that are leased under a finance lease, the present value of the lease
payments is recognized as a receivable. The difference between the gross receivables value
and the present value of the receivables is recognized as deferred finance lease income.
Rental income is recognized over the lease term using the net investment method which
reflects a constant periodic rate of return.
If an asset is leased under an operating lease, the asset is presented in the statement of
financial position according to the nature of the asset. Rental income is recognized as income
on a straight-line basis over the lease term.
24
Page 28
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
2. MATERIAL ACCOUNTING POLICY INFORMATION (continued)
r. Segment Information
The Group applies PSAK No. 108 “Operating Segments”. The Group discloses information
that enables users of financial statements to evaluate the nature and financial impact of
business activities and uses a “management approach” in presenting segment information
using the same basis as internal reporting. Operating segments are reported in a manner
consistent with internal reporting submitted to operational decision makers. In this case, the
operational decision maker who makes strategic decisions is the Board of Directors.
s. Profit or Loss per Share
The Group applies PSAK No. 233 “Earnings per Share”. Basic earnings or loss per share is
calculated by dividing the profit or loss attributable to ordinary shareholders of the parent
entity, by the weighted average number of ordinary shares outstanding, in a period.
3. IMPORTANT ACCOUNTING ESTIMATES AND JUDGMENTS
The preparation of consolidated financial statements, in accordance with Indonesian Financial
Accounting Standards, requires management to make estimates and judgments that affect the
amounts reported in the consolidated financial statements. Due to the inherent uncertainty in
making estimates, actual results reported in the future may differ from the amounts estimated.
The Group bases its estimates and judgments on the parameters available at the time the
consolidated financial statements were prepared. The situation regarding future developments
may change due to market changes or circumstances beyond the Group's control. Such changes
are reflected in the relevant considerations at the time they occur.
The following estimates and judgments made by management in the context of applying the
Group's accounting policies have the most significant influence on the amounts recognized in the
consolidated financial statements:
Classification of financial assets and financial liabilities
The Group determines the classification of certain assets and liabilities as financial assets and
financial liabilities by considering whether the definitions set out in PSAK No. 109 fulfilled. Thus,
financial assets and financial liabilities are recognized in accordance with the Group's accounting
policies as disclosed in Note 2.
Determining the fair value and calculation of financial instruments
The Group records certain financial assets and liabilities at fair value through profit or loss and at
amortized cost, which requires the use of accounting estimates. While the significant components
of fair value measurements and assumptions used in the calculation of amortized cost are
determined using verifiable objective evidence, the fair value or amortization amounts may differ if
the Group uses different valuation methodologies or assumptions. These changes may directly
affect the Group's profit and loss.
25
Page 29
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
3. IMPORTANT ACCOUNTING ESTIMATES AND JUDGMENTS (continued)
Assess the recoverable amount of non-financial assets
Allowance for decline in market value and obsolescence of inventory is estimated based on
available facts and situations, including but not limited to, physical condition of inventory held,
market selling price, estimated completion costs and estimated costs incurred for sales. The
allowance is re-evaluated and adjusted if additional information becomes available that affects the
estimated amount.
The recoverable amount of fixed assets is based on estimates and assumptions specifically
regarding market prospects and cash flows related to the assets. Estimates of future cash flows
include estimates regarding future income. Any changes in these estimates may have a material
impact on the measurement of the recoverable amount and could result in adjustments to the
recorded allowance for impairment.
Provision for impairment losses on receivables
The Group evaluates certain receivable accounts for which it is aware that certain customers are
unable to meet their financial obligations. In such cases, the Group uses judgment, based on
available facts and circumstances, including but not limited to, the length of the relationship with
the customer and the credit status of the customer based on available third party credit records
and known market factors, to record specific provisions. on customers towards the amount owed in
order to reduce the amount of receivables that the Group is expected to receive. This specific
allowance is re-evaluated and adjusted if additional information received affects the amount of the
allowance for impairment of receivables.
Determine the depreciation method and estimate the useful life of fixed assets
The cost of fixed assets is depreciated using the straight-line method based on their estimated
useful lives. Management estimates the useful life of fixed assets of 4 years to 20 years. These
are the age expectations generally applied in the industries in which the Group conducts business.
Changes in usage levels and technological developments may affect the useful life and residual
value of assets, and therefore future depreciation charges may be revised.
Estimated employee benefits expenses and liabilities
Determining the liability and expense for Group employee benefits depends on the selection of
assumptions used in calculating such amounts. These assumptions include, among others,
discount rates, salary increase rates, resignation rates, disability rates, retirement age and
mortality rates. Actual results that differ from the Group's assumptions are immediately recognized
in profit or loss when they occur. While the Group believes that these assumptions are reasonable
and appropriate, significant differences in actual results or significant changes in the Group's
assumptions could materially affect employee benefits liabilities and expenses.
26
Page 30
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
3. IMPORTANT ACCOUNTING ESTIMATES AND JUDGMENTS (continued)
Determining income tax
Significant considerations are made in determining the provision for corporate income tax. There
are certain transactions and calculations where the final tax determination is uncertain during
normal business activities. In certain situations, the Group cannot determine the exact amount of
its current or future tax liabilities due to audit processes by tax authorities. The Group recognizes a
liability for expected corporate income tax based on its estimate of whether additional corporate
income tax will be due.
Deferred tax assets are recognized when it is probable that taxable profit will be available.
Significant estimates by management are required in determining the amount of deferred tax
assets that can be recognized, based on the timing of use and level of taxable profit and future tax
planning strategies. However, there is no certainty that the Group will generate sufficient taxable
profit to allow the use of part or all of the deferred tax assets.
4. CASH
This account consists of:
March 31, 2025 December 31, 2024
Cash
Rupiah 18.147.611 33.466.002
Cash in bank
Rupiah
PT Bank Central Asia Tbk 13.368.291.851 5.442.306.340
PT Bank Mandiri (Persero) Tbk 2.522.344.052 331.868.864
PT Bank Rakyat Indonesia (Persero) Tbk 721.522.449 720.748.401
PT Bank DKI 140.400.075 2.360.709.297
PT Bank Permata Tbk 12.778.099 1.356.399
PT Bank Maluku Malut 4.780.395 394.639.856
PT Bank Maybank Indonesia Tbk 4.800.542 -
US Dollar
PT Bank Central Asia Tbk 3.397.953.433 172.406.839
Subtotal 20.172.870.896 9.424.035.996
Deposito
PT Bank Permata Tbk - 2.774.527.246
Total 20.191.018.507 12.232.029.244
All cash is placed with third parties and is not used as collateral or restricted in use.
27
Page 31
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
5. ACCOUNT RECEIVABLE
March 31, 2025 December 31, 2024
Third Parties 20.500.724.584 18.932.854.818
Allowance for losses on impairment (5.570.565.198) (5.570.565.198)
Third Parties - Net 14.930.159.386 13.362.289.620
Related parties 2.006.382.911 2.135.074.394
Total 16.936.542.297 15.497.364.014
Details of the aging of trade receivables are as follows:
March 31, 2025 December 31, 2024
Not yet due 2.059.090.571 1.544.701.385
It's due but it's not
experience impairment:
1 - 30 days 8.709.837.589 10.680.795.535
31 - 60 days 4.578.490.447 2.135.589.771
61 - 90 days 657.211.385 867.321.590
More than 90 days 6.502.477.503 5.839.520.931
Subtotal 22.507.107.495 21.067.929.212
Has matured and experienced impairment (5.570.565.198) (5.570.565.198)
Total 16.936.542.297 15.497.364.014
Movements in the allowance for losses on impairment of trade receivables are as folloes:
March 31, 2025 December 31, 2024
Beginning of year balance 5.570.565.198 4.403.174.808
Addition - 1.655.674.097
Recovery - (488.283.707)
End of year balance 5.570.565.198 5.570.565.198
Based on the results of management's evaluation, the allowance for losses from impairment of
trade receivables is sufficient to cover losses from uncollectible trade receivables.
All trade receivables are denominated in Rupiah and are not used as collateral for debts.
28
Page 32
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
6. OTHER RECEIVABLES
a. Current assets
March 31, 2025 December 31, 2024
Third parties
Wukong Technology Partners Limited 18.380.000.000 -
PT Raya Esa Hutama 150.000.000 150.000.000
PT Jangkar Putra Indonesia 115.770.000 127.000.000
Total 18.645.770.000 277.000.000
Other receivables from Wukong Technology Partners Limited represent capital injection
receivables to PT Fiber Kerumah Indonesia.
Receivable from PT Raya Esa Hutama is a loan for working capital provided for operational
activities with a period of 6 months at a rate of 11%.
Other receivables from PT Jangkar Putra Indonesia are loans provided without collateral with a
total of Rp 307,000,000 and bear interest of 11% with a repayment period of 17 months starting
from 17 January 2024 - 17 May 2025.
b. Non-current assets
March 31, 2025 December 31, 2024
Third parties
Employee 1.169.104.861 1.223.104.916
PT Jasa Rosa 309.244.000 309.244.000
PT Fajar Mitra Krida 250.000.000 250.000.000
CV Ananda Jaya 103.188.358 103.188.358
Others (under Rp100 million) 258.649.197 500.499.864
Total 2.090.186.416 2.386.037.138
Receivable from PT Netco Trans Nusa is a loan for working capital provided for operational
activities with a period of 6 months at a rate of 25%.
7. INVENTORY
March 31, 2025 December 31, 2024
Inventory of cables, poles, spare parts, etc. 87.734.533.783 67.992.377.284
Total 87.734.533.783 67.992.377.284
29
Page 33
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
7. INVENTORY (continued)
On October 14, 2023, the Group's storage warehouse located in Cibubur experienced a fire and
caused the entire cable inventory to burn, therefore the Group wrote off the cable inventory and
the loss on inventory write-off was recorded in Other Expenses account. Up to completion date of
the consolidated financial statements, the Group is in the process of filing a claim to the insurance
company.
Based on management's evaluation, no allowance for impairment of inventories is necessary as
there are no obsolete inventories.
The Group's inventories are mainly used alone for fixed assets - network infrastructure.
Inventories have been insured with PT Sunday Insurance Indonesia, a third party as of December
31, 2024 with sum insured of Rp 9,000,000,000 and insured with PT Sunday Insurance Indonesia
and PT Asuransi Bina Dana Arta Tbk, a third party, as of December 31, 2023 with sum insured of
Rp 16,116,545,500.
On January 21, 2025, the Company signed an inventory insurance agreement with PT Sunday
Insurance Indonesia with an insured amount of Rp70,894,913,576.
8. PREPAID EXPENSES AND ADVANCES
March 31, 2025 December 31, 2024
Prepaid expenses
Rent 2.390.451.021 1.930.909.532
Insurance 158.976.263 192.908.743
Others 34.603.150 42.576.164
Total 2.584.030.434 2.166.394.439
Advances
Invest in:
PT Sentra Inovasi Prima 2.400.000.000 1.800.000.000
Purchase 11.964.947.903 4.962.932.773
Professional services 10.000.000 -
Total 14.374.947.903 6.762.932.773
Total 16.958.978.337 8.929.327.212
Advance Investment in PT Sentra Inovasi Prima (“SIP”) represents advance payment of capital
paid by the Company to SIP based on the Share Purchase Agreement between SIP, SIP
Shareholders, the Company and Djatmiko Catur Riyanto dated October 7, 2024. Deed of
amendment on investment in SIP is still in process.
30
Page 34
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
8. PREPAID EXPENSES AND ADVANCES (continued)
Prepaid rent represents the rental of buildings and land for the placement of the Company's
telecommunications network equipment.
Advances for professional services represent advances for supporting professional services paid
by the Company in connection with the Company planned Initial Public Offering of Shares.
Purchase advances represent advances for the purchase of supplies and land to place devices
that connect or disconnect the internet network to customers (PoP).
9. OTHER NON-CURRENT ASSETS
31 Maret 2025 31 Desember 2024
Goodwill 1.193.614.516 1.193.614.515
Security deposit 559.409.437 419.333.930
Jumlah 1.753.023.953 1.612.948.445
Goodwill represents the excess of consideration transferred over the fair value of net assets
acquired at the date of acquisition of a subsidiary.
Based on the evaluation by management, there were no events or changes in circumstances that
indicated impairment in the value of the Group’s goodwill.
This account represents security deposit for office space rental at Graha Mustika Ratu based on
lease contract with PT Mustika Ratu Center.
10. FIXED ASSETS
Balance as of Balance as of
Januari 1, 2025 Addition Deduction March 31, 2025
Acquisition Costs
Direct
ownership
Land 9.117.733.350 1.839.400.000 - 10.957.133.350
Building 21.550.042.182 - - 21.550.042.182
Vehicle 24.807.214.630 2.588.000.000 - 27.395.214.630
Office equipment 8.876.477.242 478.066.866 - 9.354.544.108
Network
infrastructure 261.287.172.038 43.013.095.075 - 304.300.267.113
Subtotal 325.638.639.442 47.918.561.941 - 373.557.201.383
Assets in
progress
Building 5.808.876.595 207.454.955 - 6.016.331.550
Total acquisition
cost 331.447.516.037 48.126.016.896 - 379.573.532.933
31
Page 35
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
10. FIXED ASSETS (continued)
Balance as of Balance as of
Januari 1, 2025 Addition Deduction March 31, 2025
Accumulated
depreciation
Direct
ownership
Building 1.972.946.343 269.375.528 - 2.242.321.871
Vehicle 11.608.444.672 730.434.319 - 12.338.878.991
Office equipment 5.344.331.641 344.989.182 - 5.689.320.823
Network
infrastructure 73.536.392.357 8.577.358.302 - 82.113.750.659
Total accumulated
depreciation 92.462.115.013 9.922.157.331 - 102.384.272.344
Carrying Amount 238.985.401.024 277.189.260.589
Balance as of Balance as of
Januari 1, 2024 Addition Deduction December 31, 2024
Acquisition Costs
Direct
ownership
Land 4.859.708.350 4.258.025.000 - 9.117.733.350
Building 9.506.603.642 12.043.438.540 - 21.550.042.182
Vehicle 23.914.899.630 892.315.000 - 24.807.214.630
Office equipment 7.136.969.767 1.739.507.475 - 8.876.477.242
Network
infrastructure 140.367.498.435 120.919.673.603 - 261.287.172.038
Subtotal 185.785.679.824 139.852.959.618 - 325.638.639.442
Assets in
progress
Building 647.500.000 5.161.376.595 - 5.808.876.595
Total acquisition
cost 186.433.179.824 145.014.336.213 - 331.447.516.037
Accumulated
depreciation
Direct
ownership
Building 1.466.635.901 506.310.442 - 1.972.946.343
Vehicle 8.927.509.486 2.680.935.186 - 11.608.444.672
Office equipment 4.044.371.155 1.299.960.486 - 5.344.331.641
Network
infrastructure 54.041.869.348 19.494.523.009 - 73.536.392.357
Total accumulated
depreciation 68.480.385.890 23.981.729.123 - 92.462.115.013
Carrying Amount 117.952.793.934 238.985.401.024
32
Page 36
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
10. FIXED ASSETS (continued)
Depreciation expense on property and equipment for the years ended March 31, 2025 and
December 31, 2024 are as follows:
March 31, 2025 December 31, 2024
Cost of revenue (Note 26) 8.577.358.302 19.485.291.262
General and administrative
expenses (Note 28) 1.344.799.029 4.485.255.922
Total 9.922.157.331 23.970.547.184
As of March 31, 2025, there were no property and equipment that were temporarily idle or retired
from active use.
As of March 31, 2025 and December 31, 2024, details of the gross carrying amount of property
and equipment that have been fully depreciated and are still in use are as follows:
March 31, 2025 December 31, 2024
Network infrastructure 15.283.743.119 15.283.743.119
Office equipment 3.451.155.081 3.196.754.531
Vehicle 2.980.983.144 2.980.983.144
Total 21.715.881.344 21.461.480.794
As of December 31, 2024, the addition of property and equipment in the form of land and building
is an addition:
a. The Company’s purchase of land and buildings from Rochyatun, a third party, amounted to
Rp448,000,000 based on the Land Sale and Purchase Agreement dated September 10,
2024, with a total land and building area of 280 m², located in Sikasur Village, Belik District,
Pemalang Regency, Central Java Province.
b. The Company’s purchase of land and buildings from Rian Irawan, a third party, amounted to
Rp700,000,000 based on the Land Sale and Purchase Agreement dated September 20,
2024, with a total land and building area of 283 m², located in Ciamis Village, Ciamis District,
Ciamis Regency, West Java Province.
c. The Company’s purchase of land and buildings from Suci Herawati, a third party, amounted
to Rp400,000,000 based on the Land Sale and Purchase Agreement dated September 9,
2024, with a total land and building area of 222 m², located at Jl. Wijaya Kusuma RT 01 RW
01, Sidakaya, Cilacap District, Cilacap City.
d. The Company’s purchase of land and buildings from Barkah Basalamah, a third party,
amounted to Rp700,000,000 based on the Land Sale and Purchase Agreement dated
September 12, 2024, with a total land and building area of 129 m², located at Jl. Pancuran RT
04 RW 09, Sukapura, Kejaksan District, Cirebon City.
e. The Company’s purchase of land and buildings from Siti Rofingatun, a third party, amounted
to Rp600,000,000 based on the Land Sale and Purchase Agreement dated September 9,
2024, with a total land and building area of 811 m², located in Wringinharjo Village,
Wringinharjo District, Cilacap Regency, Central Java.
33
Page 37
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
10. FIXED ASSETS (continued)
As of December 31, 2024, the addition of property and equipment in the form of land and building
is an addition: (continued)
f. The Company’s purchase of land and buildings from Yani Yulianti, a third party, amounted to
Rp650,000,000 based on the Sale and Purchase Agreement dated October 1, 2024, with a
total land and building area of 88 m², located in Garut City District, Garut Regency, West
Java.
g. The Company’s purchase of land and buildings from Faoji, a third party, amounted to
Rp1,000,000,000 based on the Land Sale and Purchase Agreement dated September 17,
2024, with a total land and building area of 1,135 m², located in Losarang District, Indramayu
Regency.
h. The Company’s purchase of land and buildings from Mulianto, a third party, amounted to
Rp600,000,000 based on the Land Sale and Purchase Agreement dated October 31, 2024,
with a total land and building area of 69 m², located in Karawang Regency, West Java.
i.
The Company’s purchase of land and buildings from Yuyun Yunarti, a third party, amounted
to Rp450,000,000 based on the Land Sale and Purchase Agreement dated October 19,
2024, with a total land and building area of 48 m², located in Sukabumi Regency, West Java.
j.
The purchase of land and buildings by PC 24 from Nur Handayani, a third party, amounted to
Rp2,600,000,000 based on the Land Sale and Purchase Agreement dated March 28, 2024,
with a total land and building area of 350 m², located in Purwakarta Regency, West Java.
As of December 31, 2023, the addition of property and equipment in the form of land and building
is an addition:
a. Purchase of land and building by the Company from Christian Nugroho, a third party,
amounting to Rp1,800,000,000 based on Deed of Sale and Purchase No. 33 dated March 31,
2023 with a land and building area of 235 m2 located in Cikopo Village, Bungursari
Subdistrict, Purwakarta Regency, West Java Province, with Building Rights Title Certificate
(SHGB) No. 0336/Cikopo;
b. Purchase of land and building by the Company from Anton Bingah Kuntarjo, a third party,
amounting to Rp2,850,000,000 based on Deed of Sale and Purchase No. 33 dated August
10, 2023 with a land area of 95 m2 located at Jalan Howitzer No. 9B RT 008 RW 006
Kelurahan Sumur Batu, Kemayoran District, DKI Jakarta Province, with SHGB No.
3201/Sumur Batu;by the Company from Sudiro, a third party, valued at Rp 550,000,000 based
Purchase of land
c. on Deed of Sale and Purchase Agreement No. 2 dated August 29, 2023 with a land area of
910 m2 located in Galala Village, North Oba Subdistrict, Tidore Islands City, North Maluku
Province, with Certificate of Ownership (SHM) No. 162/Galala under the name of
Sudiro;
Purchase of land and building by PC 24 from PT Alindatama Saktib Rother, a third party,
d. amounting to Rp850,000,000 based on Deed of Sale and Purchase No. 19 dated February
21, 2023 with a land and building area of 135 m2 located in Sukasari Village, Serang Baru
Subdistrict, Bekasi Regency, West Java Province, with SHGB No. 5878/Sukasari; and costs
related to the acquisition of the above land and building and office renovation amounting to
Rp2,117,657,642. The addition of land and building assets is intended for the Group's
operational offices.
34
Page 38
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
10. FIXED ASSETS (continued)
As of March 31, 2025 and December 31, 2024, additional fixed assets, in the form of vehicles,
represent the purchase of vehicles through consumer financing (Note 17) and are used for
operational activities.
Management believes that the sum insured is adequate to cover possible losses on the insured
assets.
Based on management's evaluation, there are no events or changes in circumstances that indicate
impairment of property and equipment.
11. RIGHT-OF-USE ASSETS
Balance as of Balance as of
Januari 1, 2025 Addition Deduction March 31, 2025
Acquisition Costs
Office room 10.471.581.148 - - 10.471.581.148
Network cable 21.676.804.000 - - 21.676.804.000
land and
building 5.499.072.914 - - 5.499.072.914
Total acquisition
cost 37.647.458.062 - - 37.647.458.062
Accumulated
depreciation
Office room 2.094.316.224 531.922.806 - 2.626.239.030
Network cable 1.806.400.335 361.280.067 - 2.167.680.402
land and
building 3.121.589.972 121.702.812 - 3.243.292.784
Total accumulated
depreciation 7.022.306.531 1.014.905.685 - 8.037.212.216
Carrying Amount 30.625.151.531 29.610.245.846
Balance as of Balance as of
Januari 1, 2024 Addition Deduction December 31, 2024
Acquisition Costs
Office room 5.889.726.288 4.581.854.860 - 10.471.581.148
Network cable 5.419.201.000 16.257.603.000 - 21.676.804.000
land and
building 4.960.728.888 2.481.562.135 (1.943.218.109) 5.499.072.914
Total acquisition
cost 16.269.656.176 23.321.019.995 (1.943.218.109) 37.647.458.062
35
Page 39
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
11. RIGHT-OF-USE ASSETS (lanjutan)
Balance as of Balance as of
Januari 1, 2024 Addition Deduction December 31, 2024
Accumulated
depreciation
Office room 431.713.298 1.662.602.926 - 2.094.316.224
Network cable - 1.806.400.335 1.806.400.335
land and
building 2.510.302.888 2.554.505.193 (1.943.218.109) 3.121.589.972
Total accumulated
depreciation 2.942.016.186 6.023.508.454 (1.943.218.109) 7.022.306.531
Carrying Amount 13.327.639.990 30.625.151.531
Depreciation expense of right-of-use assets for the years ended March 31, 2025 and December
31, 2024 are as follows:
31 Maret 2025 31 Desember 2024
General and administrative
expenses (Note 28) 531.922.806 6.023.508.454
Right-of-use assets in the form of office space based on a rental agreement with PT Mustika Ratu
Center.
Right-of-use assets in the form of land and buildings represent leases on land located in several
areas in DKI Jakarta, Depok, South Tangerang, Bogor, Karawang and Cianjur which are used to
place devices that connect or disconnect internet and communication networks to customers
(PoP).
12. BANK LOAN
March 31, 2025 December 31, 2024
PT Bank Maybank Indonesia Tbk 39.575.483.593 -
PT Bank Central Asia Tbk 16.618.812.907 11.762.771.196
PT Bank OCBC NISP Tbk 3.308.611.648 2.512.821.649
Total 59.502.908.148 14.275.592.845
36
Page 40
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
12. BANK LOAN (continued)
The Company
PT Bank Central Asia Tbk
On November 15, 2019, the Company entered into a Credit Agreement with PT Bank Central Asia
Tbk (“BCA”), as stipulated in Credit Agreement No. 03496/PK/SLK/2019, under which BCA agreed
to provide a Local Credit Facility (Overdraft). This agreement has been extended and amended
several times, most recently through Amendment to Credit Agreement No. 00129-
1/PPK/0979S/2024 dated March 6, 2024, under which the maximum credit limit was set at
Rp16,000,000,000 and the maturity date was extended to November 19, 2025. The interest rate
on the credit facility is 10.50% per annum.
Collateral for the credit facility from BCA is as follows:
a. A plot of land with an area of 68 sqm located at Ruko Canadian Kota Wisata Blok CB.D No.
22, Limusnunggal Village, Cileungsi Sub-district, Bogor Regency, West Java with a
Certificate of Title (SHM) No. 3733/Limusnunggal in the name of Verah Wahyudi S Wong.
b. A plot of land measuring 50 sqm, located at Ruko Boston Kota Wisata Blok RK 2 No. 25,
Ciangsana Village, Gunung Putri Sub-district, Bogor Regency, West Java with Building
Rights Title Certificate (SHGB) No. 10369/Ciangsana under the name of Verah Wahyudi S
c. A plot of land measuring 58 sqm, located at Jalan Raya Tapos No. 50 RT.02 RW.12, Tapos
Village, Tapos Sub-district, Depok City, West Java with SHM No. 3209/Tapos in the name of
Budi Aditya Erna Mulyanto.
d. 56 sqm plot of land located at Jalan KH Mansyur, Gondrong Urban Village, Cipondoh
Subdistrict, Tangerang City, Banten with SHM No. 1842/Gondrong under the name of Budi
Aditya Erna Mulyanto.
e. 2 parcels of land located at Jalan Raden Fattah, Sudimara Barat Village, Ciledug Sub-district,
Tangerang City, Banten with SHM No. 3403/Sudimara Barat covering an area of 32 m2 and
SHM No. 3408/Sudimara Barat covering an area of 5 m2 both of which are under the name of
Budi Aditya Erna Mulyanto.
f. A plot of land measuring 175 sqm located at Ruko Jalan Raya Cinere Blok M No. 26, Cinere
Village, Limo Sub-district, Depok City, West Java with SHM No. 4050/Cinere under the name
of Budi Aditya Erna Mulyanto.
g. A plot of land with an area of 128 sqm located in Kota Wisata Cluster Ottawa Housing, UC
Block 2 No. 3, Limusnunggal Village, Cileungsi Subdistrict, Bogor City, West Java with SHM
No. 4553/Limusnunggal under the name of Budi Aditya Erna Mulyanto.
h. A plot of land covering an area of 2,095 m2 located at Jalan Purnawarman, Kp. Lebak Sirna
RT.001 RW.07, Ciampea Village, Ciampea Sub-district, Bogor City, West Java with SHM No.
442/Ciampea under the name of Budi Aditya Erna Mulyanto.
i. A plot of land covering an area of 150 m2 located at Ruko Jln. Wibawa Mukti II No. 3C RT.01
RW.07, Jatiasih Village, Jatiasih District, Bekasi City, West Java with SHM No. 8215/Jatiasih
under the name of Budi Aditya Erna Mulyanto.
j. A plot of land with an area of 180 sqm located at Kota Wisata Cluster Coastesville Housing
Block SC 5 No. 35, Ciangsana Village, Gunung Putri Subdistrict, Bogor Regency, West Java
with SHM No. 7377/Ciangsana under the name of Budi Aditya Erna Mulyanto.
k. A plot of land covering an area of 95 m2 located in the Province of Jakarta Special Capital
Region, Central Jakarta Administrative City, Kemayoran Subdistrict, Sumur Batu Village
SHGB 09.01.000000056.0 under the name of the Company.
37
Page 41
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
12. BANK LOAN (continued)
The Company (continued)
PT Bank Central Asia Tbk (continued)
Collateral for the credit facility from BCA is as follows: (continued)
l. A plot of land measuring 235 sqm located in the Province of West Java, Purwakarta
Regency, Bungursari Subdistrict, Cikopo Village with SHGB No. 03306/Cikopo under the
name of the Company.
m. A plot of land covering an area of 64 m2 located in West Java Province, Purwakarta
Regency, Bungursari District, Cikopo Village with SHM No. 8477/Sarua under the name of
Budi Aditya Erna Mulyanto.
Based on the agreement, the Company is not allowed to carry out the following activities without
prior written approval from BCA, namely:
a. obtain new loans/credit from other parties and/or bind itself as a guarantor in any form and by
any name and/or pledge its assets to other parties.
b. lend money, including but not limited to its affiliated companies, except in the context of
carrying out daily business.
c. make investments, investments or open new businesses outside the Company's core business.
d. conducting consolidation, merger, takeover, dissolution/liquidation, as well as changing the
institutional status, articles of association, composition of the board of directors and board of
commissioners and shareholders and distributing dividends.
The Company has received a waiver from BCA related to the above in Letter No. 00479/SLK/2023
dated May 8, 2023 and Letter No. 00793/SLK/2023 dated July 21, 2023.
PT Bank Maybank Indonesia Tbk
On February 17, 2025, the Company entered into a Credit Agreement with PT Bank Maybank
Indonesia Tbk ("Maybank"), as stipulated in Credit Agreement No. 62B/PK/CDU2/25, under which
Maybank agreed to provide the Company with an Overdraft Loan Facility (PRK) with a maximum
credit limit of Rp40,000,000,000. The facility is intended to finance the Company’s working capital
needs and is valid for a period of one year, from February 18, 2025, to February 18, 2026, with an
interest rate of 5.75% per annum.
The collateral for the Overdraft Loan Facility (PRK) is a time deposit account under the name of
Verah Wahyudi Singgih Wong, account number 3-00001-072-03486, amounting to
Rp40,000,000,000 (forty billion Rupiah).
38
Page 42
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
12. BANK LOAN (continued)
PT PC 24 Cyber Indonesia ("PC 24")
PT Bank Central Asia Tbk
On December 02, 2024, PC 24 signed a Credit Agreement with PT Bank Central Asia Tbk (“BCA”)
as stated in Credit Agreement No. 01836/0979S/SPPK/2024 where BCA approved the granting of
an Investment Credit Facility to the Company with a maximum credit amount of Rp1,820,000,000
which is used for working capital needs with an agreement period of five years and a credit interest
rate of 9.50%.
The collateral for the loan is a plot of land located at Jalan Basuki Rahmat RT 005 RW 006 Kel.
Sindangkasih Kec. Purwakarta 41112, Kab. Purwakarta according to HGB certificate -
10.07.000007393.0 in the name of PT PC 24 Cyber Indonesia.
PT Bank OCBC NISP Tbk
On June 27, 2023, PC 24 entered into a Loan Agreement with PT Bank OCBC NISP Tbk
(“OCBC”) as stated in the Deed of Loan Agreement No. 158 where OCBC approved the granting
of Current Account Credit Facility (“KRK”) to PC 24. This agreement has been extended and
amended several times, most recently based on the Notice of Credit Extension 035/OL/EMB
HI/FH/V/2024 the maximum amount of this credit facility is Rp6,000,000,000 which is used for
working capital needs. The term of the agreement is for one year from the date of signing the loan
agreement with an interest rate of 8.25%.
Collateral for credit facilities from OCBC is as follows:
a. A plot of land measuring 63 m 2 located on Jalan Petojo VIY I No. 22 RT.002/006, Cideng
Village, Gambir District, Central Jakarta with SHM No. 1512/Cideng in the name of Budi
Aditya Erna Mulyanto.
b. A plot of land measuring 66 m 2 located in Sukasari Village, Tangerang District, Banten with
SHM No. 4330/Sukasari in the name of Budi Aditya Erna Mulyanto.
c. A plot of land measuring 54 m 2 located at RT.017/06, Pasirsari Village, South Cikarang
District, Bekasi, West Java with SHM No. 4482/Pasirsari in the name of Budi Aditya Erna
Mulyanto.
d. A plot of land measuring 135 m 2 located in Kav. A.1-1, Sukasari Village, Serang Baru
District, Bekasi, West Java with SHM No. 05878/Sukasari in the name of Budi Aditya Erna
Mulyanto.
Based on the agreement, PC 24 is not permitted to carry out the following activities without prior
written approval from OCBC, among others, as follows:
a. Make changes to the composition of shareholders and controlling parties (directly or
indirectly), as well as the composition of the board of directors and board of commissioners.
b. Liquidate or dissolve the Company or be involved in a merger, acquisition, consolidation
and/or joint venture with another company.
c. Reduce the Company's paid-in capital.
d. Pay dividends in any way to shareholders.
PC24 has received a waiver from OCBC regarding points a to d above in Letter No.
02/EXT/EMB/I/2024 dated 18 January 2024 with the provisions for points a to c with written
approval from OCBC, while for point d, prior notification is required to be submitted to OCBC.
39
Page 43
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
12. BANK LOAN (continued)
PT Fiber Media Indonesia ("FMI")
PT Bank Central Asia Tbk
On March 29, 2022, FMI signed a Credit Agreement with PT Bank Central Asia Tbk (“BCA”), as
stated in the Credit Agreement Deed No. 00042/KML/SPPK/2012, under which BCA agreed to
provide a loan facility to FMI. This agreement has been extended and amended several times,
most recently through the Loan Term Extension Notification Letter No. 00126/KML/SPPJ/2024
dated May 22, 2024, with a maximum credit amount of Rp2,400,000,000 and an interest rate of
11%.
Collateral for the credit facility from BCA is as follows:
a. A shophouse on Jl. Prof. Dr. Soepomo, Tebet Barat Urban Village, Tebet District, South
Jakarta with Building Rights Title Certificate (SHGB) No. 03922/Tebet Barat in the name of
Ridhomas Aritonang, Posmida Siahaan, Trio Munas Orsika Siahaan, Sabrina Siahaan, Selma
Siahaan, Rachmia Siahaan, Ramos Siahaan and Dialdo Nardito B. Siahaan.
b. A plot of land at Jl. Durian 6 No. 223, Depok Jaya Urban Village, Pancoran Mas District,
Depok City, with SHM No. 04742/Depok Jaya in the name of Budi Aditya Erna Mulyanto.
c. A plot of building land on Jl. Ir. Mangkudijojo Kp. Jatirasa, Karang Pawitan Village, West
Karawang Sub-district, Karawang Regency with SHM No. 914/Karangpawitan under the
name of Budi Aditya Erna Mulyanto.
d. A plot of building land on Jl. Plered RT 005 RW 007, Pengasinan Village, Sawangan
Subdistrict, Depok with SHM No. 04050/Pengasinan under the name of Budi Aditya Erna
Mulyanto.
e. nother plot of building land on Jl. Raya Gunung Putri, Tlajung Udik Urban Village, Gunung
Putri Subdistrict, Bogor with SHM No. 5693/Tlajung Udik in the name of Budi Aditya Erna
Mulyanto.
f. Another plot of land and building at Kp. Cikalangan Jl. Raya Cileungsi (Transyogie), Cileungsi
Village, Cileungsi Sub-district, Bogor with SHM No. 3238/Cileungsi under the name of Budi
Aditya Erna Mulyanto.
Based on the agreement, PT Fiber Media Indonesia is not allowed to carry out the following
activities without prior written approval from BCA, namely:
a. obtain new loans/credit from other parties and/or bind itself as a guarantor in any form and by
any name and/or pledge its assets to other parties.
b. lending money, including but not limited to its affiliated groups, except in the context of
carrying out daily business.
c. intervening, investing and opening new businesses outside the Company's core business.
d. to consolidate, merge, take over, dissolve/liquidate, as well as change the institutional status,
articles of association, composition of the board of directors and board of commissioners and
shareholders and distribute dividends.
40
Page 44
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
13. ACCOUNT PAYABLES
March 31, 2025 December 31, 2024
Third parties 32.250.819.660 17.307.863.802
Total 32.250.819.660 17.307.863.802
All business debts are denominated in Rupiah. The Group does not provide guarantees for its
debts to suppliers.
14. ACCRUAL EXPENSES
March 31, 2025 December 31, 2024
Operational Right Fee (BHP)
and Universal Service Obligations (USO) 7.354.123.406 5.901.221.525
Unearned revenue 677.413.045 206.913.886
Insurance 421.351.237 356.011.992
Electricity 207.605.217 249.332.470
Wages and salaries 144.098.699 231.314.990
Others 4.305.439 2.469.841
Total 8.808.897.043 6.947.264.704
15. OTHER PAYABLES
March 31, 2025 December 31, 2024
Related parties
Shareholders 32.482.940.713 32.457.940.713
Subtotal 32.482.940.713 32.457.940.713
Third parties
Third parties 129.728.771 762.955.856
Subtotal 129.728.771 762.955.856
Total 32.612.669.484 33.220.896.569
All other debts are denominated in Rupiah.
Shareholders' payable represents payable to Mr. Budi Aditya Erna Mulyanto for the Company's
operational activities.
41
Page 45
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
16. LEASE LIABILITIES
March 31, 2025 December 31, 2024
Short-term:
Office room 1.615.359.479 1.965.599.549
Network cable 1.380.406.652 7.395.719.762
land and building 50.740.810 192.740.810
Total short-term 3.046.506.941 9.554.060.121
Long-term:
Office room 6.461.832.075 6.654.572.885
land and building 605.324.739 412.583.929
Total long-term 7.067.156.814 7.067.156.814
The amount of implicit incremental interest used is 6%.
The Group entered into several lease agreements related to the rental of office space and network
cables as follows:
a. On May 13, 2022, the Company signed a Lease Agreement with PT Mustika Ratu Center for
office space. This agreement has been amended several times, most recently on July 24,
2023 where the Company rented office space on the Ground Floor covering an area of
388.18 m 2 with a rental period of 4 years 8 months from September 15, 2023 to June 12,
2028.
b. On November 7, 2022, the Company signed a Lease Agreement with PT Mustika Ratu
Center for office space. This agreement has been amended several times, most recently on
August 31, 2023 where the Company rented office space on the Annex Floor covering an
area of 147.5 m 2 with a rental period of 3 months from October 1, 2023 to January 1, 2024.
c. On February 21, 2011 and June 8, 2015, the Company signed a Lease Agreement with PT
Mustika Ratu Center for office space. This agreement has been amended several times, most
recently on January 27, 2023 and June 12, 2023 where the Company rented office space on
the Annex Floor with a total area of 171.36 m 2 with a rental period of 3 months from June 15,
2023 to September 14, 2023. Furthermore, on September 22 2023, the Company signed an
addendum to the rental agreement whereby the area of the office space rented was reduced
to 59.23 m 2 effective from September 15, 2023 until December 31, 2023.
d. On November 7, 2022, PT PC 24 Cyber Indonesia signed a Lease Agreement with PT
Mustika Ratu Center for office space. This agreement has been amended several times, most
recently on August 31, 2023 where PT PC 24 Cyber Indonesia rented office space on the
Annex Floor with an area of 73.28 m 2 with a rental period of 3 months from October 1, 2023
to January 1, 2024 .
e. On November 7, 2022, PT Fiber Media Indonesia signed a Lease Agreement with PT Mustika
Ratu Centre for office space. This agreement has been amended several times, most
recently on August 31, 2023 where PT PC 24 Cyber Indonesia leased office space on the
Annex Floor with an area of 73.28 m2 with a lease period of 3 months from October 1, 2023
to January 1, 2024.
42
Page 46
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
16. LEASE LIABILITIES (continued)
The Group entered into several lease agreements related to the rental of office space and network
cables as follows: (continued)
f. On October 30, 2023, the Company and PT Jejaring Mitra Persada (“Jejaring”) signed an
Indefeasible Right of Use (IRU) Agreement for the Provision of Fiber Optic Core Cables.
Under this agreement, the Company purchased fiber optic cables within the UJB
Telecommunication Network from Jejaring. The Company will also collaborate with PT
Triasmitra Multiniaga Internasional for the maintenance and repair of the fiber optic cables, as
well as for the leasing of collocation space and related operations (if any), which will be
stipulated in a separate agreement. The term of the agreement is 15 years, effective from the
date of signing the Handover Minutes.
17. CONSUMER FINANCING PAYABLE
The present value of the minimum lease payments is as follows:
March 31, 2025 December 31, 2024
Present value of minimum payment 3.277.239.486 4.082.834.161
The due part is in
one year's time (2.061.497.341) (2.789.422.111)
Long Term Section 1.215.742.145 1.293.412.050
The Company
The Company entered into several consumer financing agreements with PT BCA Finance, PT
Mega Finance, PT Maybank Indonesia Finance and PT Federal International Finance to finance
the purchase of vehicles. These loan facilities are secured by the vehicles and will mature in 2025
and 2026 with fixed interest rates ranging from 2.66% to 18.09% per annum.
PT PC 24 Cyber Indonesia ("PC 24")
PC 24 entered into several consumer financing agreements with PT BCA Finance and PT
Maybank Indonesia Finance which were used to finance the purchase of vehicles. These loan
facilities are secured by the vehicles and will mature in 2024 and 2026 with fixed interest rates
ranging from 2.66% to 7.49% per annum.
PT Fiber Media Indonesia ("FMI")
FMI signed several consumer financing agreements with PT BCA Finance and PT Maybank
Indonesia Finance to finance the purchase of vehicles. These loan facilities are secured by the
vehicles and will mature in 2026 with fixed interest rates ranging from 2.66% to 7.48% per annum.
43
Page 47
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
18. EMPLOYEE BENEFITS LIABILITIES
The calculation of employee benefits liabilities uses the "Projected Unit Credit" method by
considering the following assumptions:
March 31, 2025 December 31, 2024
Doscount rate 6,84% - 7,12% 6,84% - 7,12%
Salary increase rate 6,00% 6,00%
Mortality table TMII IV TMII IV
Retirement age 55 years old 55 years old
Disability rate 5% TMII IV 5% TMII IV
Movements in employee benefits liabilities are as follows:
March 31, 2025 December 31, 2024
Beginning of the period/year 3.299.100.099 2.746.040.709
Expenses recognized on the report:
Profit and loss - 792.350.069
Other comprehensive income - (239.290.679)
End of Period/Year Balance 3.299.100.099 3.299.100.099
The sensitivity of the defined benefit obligation to major assumptions is as
March 31, 2025 December 31, 2024
Change in discount rate assumption
Decrease 1% 262.187.251 262.187.251
Increase 1% (232.429.299) (232.429.299)
Change in salary increase rate assumption
Decrease 1% (245.059.683) (245.059.683)
Increase 1% 272.360.446 272.360.446
19. TAXATION
a. Pajak Dibayar Dimuka
March 31, 2025 December 31, 2024
Value added tax 755.017.785 592.337.836
Income tax:
Article 21 8.620.266 123.098.826
Article 23 14.685.152 -
Jumlah 778.323.203 715.436.662
44
Page 48
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
19. TAXATION (continued)
b. Utang Pajak
March 31, 2025 December 31, 2024
Value added tax 909.559.847 1.910.814.515
Income tax:
Article 4 (2) 126.697.595 130.392.304
Article 21 780.928.629 40.923.886
Article 23 94.659.927 81.759.483
Article 25 - 160.426.670
Article 29 23.093.008.308 20.052.181.715
Total 25.004.854.306 22.376.498.573
c. Benefits (expenses) of income tax
March 31, 2025 March 31, 2024
Current
Company (2.361.705.374) (2.535.204.172)
Subsidiaries (2.383.851.046) (2.249.117.348)
Total (4.745.556.420) (4.784.321.520)
The reconciliation between profit before income tax as shown in the consolidated statements
of profit or loss and other comprehensive income and the Company's estimated taxable
income for the three-month periods ended March 31, 2025 and 2024 is as
follows:
March 31, 2025 March 31, 2024
Profit before income tax expense
according to the income statement
and consolidated other
comprehensive income 18.793.219.250 19.856.153.023
profit before tax of of subsidiaries
and eliminations (8.367.813.436) (6.752.533.015)
Profit before income tax - 10.425.405.814 13.103.620.008
Company
Permanent difference 309.618.615 (1.579.964.681)
Temporary difference - -
Taxable Profits - Company 10.735.024.429 11.523.655.327
Income tax expense - current 2.361.705.374 2.535.204.172
45
Page 49
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
19. TAXATION (continued)
d. Deferred Tax
Credited to Other
Balance as of Charged to Comprehensive Balance as of
Januari 1, 2025 Profit or Loss Income March 31, 2025
Company
Employee benefits 623.360.377 - - 623.360.377
Provision for impairment
of value receivables 586.025.237 - - 586.025.237
Subsidiaries
Employee benefits 102.441.645 - - 102.441.645
Provision for impairment
of value receivables 639.499.107 - - 639.499.107
Total Deferred Tax Assets 1.951.326.366 - - 1.951.326.366
Credited to Other
Balance as of Charged to Comprehensive Balance as of
Januari 1, 2024 Profit or Loss Income December 31, 2024
Company
Employee benefits 396.472.843 171.204.587 55.682.947 623.360.377
Provision for impairment
of value receivables 323.631.476 262.393.761 - 586.025.237
Subsidiaries
Employee benefits 207.656.113 3.112.428 (108.326.896) 102.441.645
Provision for impairment
of value receivables 746.921.523 (107.422.416) - 639.499.107
Total Deferred Tax Assets 1.674.681.955 329.288.360 (52.643.949) 1.951.326.366
20. CAPITAL STOCK
The composition of the Company's shareholders as of March 31, 2025 is as follows:
Number of
Issued and Paid Percentage
Shares Ownership Total
Verah Wahyudi Singgih Wong 1.149.112.100 83,572% 57.455.605.000
Jimmi Anka 44.000.000 3,200% 2.200.000.000
Samuel Adi Mulia 84.100 0,006% 4.205.000
Public 181.803.800 13,222% 9.090.190.000
Jumlah 1.375.000.000 100,00% 68.750.000.000
46
Page 50
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
20. CAPITAL STOCK (continued)
The composition of the Company's shareholders as of December 31, 2024 is as follows:
Number of
Issued and Paid Percentage
Shares Ownership Total
Verah Wahyudi Singgih Wong 1.076.758.300 78,310% 53.837.915.000
Jimmi Anka 44.000.000 3,200% 2.200.000.000
Samuel Adi Mulia 77.500 0,006% 3.875.000
Public 254.164.200 18,485% 12.708.210.000
Total 1.375.000.000 100,00% 68.750.000.000
Based on Deed no. 132 dated August 30, 2023 by Elizabeth Karina Leonita, SH., M.Kn., Notary in
South Jakarta, which has received approval from the Minister of Law and Human Rights of the
Republic of Indonesia in Decree No. AHU-0051661.AH.01. 02.TAHUN 2023 dated August 31,
2023, the shareholders approved an increase in authorized capital from Rp50,000,000 to
Rp220,000,000,000 and an increase in the Company's issued and paid-up capital from
Rp25,000,000 to Rp55,000,000,000. an increase in the Company issued and paid-up capital
amounting to Rp54,975,000,000 through the distribution of share dividends and shares and paid-
up in full by the shareholders in accordance with their portion of ownership so that the composition
of the Company share ownership is as follows:
(a) Verah Wahyudi Singgih Wong amounting to Rp52,800,000,000 or 528,000 shares.
(b) Jimmi Anka amounting to Rp2,200,000,000 or 22,000 shares.
Based on the Deed of Resolution of the Annual General Meeting of Shareholders No. 131 dated
August 30, 2023 by Elizabeth Karina Leonita, SH, M.Kn., Notary in South Jakarta, the
shareholders resolved, among others, to determine the use of the Company's comprehensive
income until December 31, 2022 as follows:
a. Rp1,000,000,000 as the Company's reserve fund.
b. Rp54,975,000,000 as stock dividends and will be distributed proportionally to the
shareholders with the distribution provisions of Verah Wahyudi Singgih Wong amounting to
Rp52,776,000,000 and Jimmi Anka amounting to Rp2,199,000,000.
Based on Deed No. 1 dated May 3, 2023 by Elizabeth Karina Leonita, SH, M.Kn., Notary in South
Jakarta, which has been approved by the Minister of Law and Human Rights of the Republic of
Indonesia in Decree No. AHU0030001.AH,01,02.TAHUN 2023 dated May 30, 2023, the
shareholders approved the grant of 240 shares owned by Budi Aditya Erna Mulyanto in the
Company to Verah Wahyudi Singgih Wong, so that the composition of the Company's share
ownership is as follows:
a. Verah Wahyudi Singgih Wong amounted to Rp24,000,000.
b. Jimmi Anka amounted to Rp1,000,000.
47
Page 51
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
21. ADDITIONAL PAID-IN CAPITAL
March 31, 2025 December 31, 2024
Agio shares from initial public offering 37.950.000.000 37.950.000.000
Share issuance costs (3.000.073.478) (3.000.073.478)
Tax amnesty 7.271.363.600 7.271.363.600
Difference in restructuring common control 14.675.079.209 14.675.079.209
Difference in value of equity transaction with\
noncontroling interest (38.853.744) (38.853.744)
Jumlah 56.857.515.587 56.857.515.587
Premium of share from initial public offering represents the difference between selling price of
Rp188 per share and the par value of Rp50 per share of 275,000,000 shares issued through initial
public offering.
22. RETAINED EARNINGS
March 31, 2025 December 31, 2024
Appropriated
Balance at beginning of the period/year 2.000.000.000 1.000.000.000
Reserve - 1.000.000.000
Balance at the end of the period/year 2.000.000.000 2.000.000.000
Unappropriated
Balance at beginning of the period/year 123.480.274.813 27.890.661.326
Reserve - (1.000.000.000)
Profit for the period/year 13.700.766.471 96.589.613.487
Balance at the end of the period/year 137.181.041.284 123.480.274.813
Total 139.181.041.284 125.480.274.813
Based on Deed of General Meeting of Shareholders No. 47 dated June 26, 2024 by Notary
Kumala Tjahjani Widodo, S.H., M.Kn. in Jakarta, it was stated that the Company approved the
addition of general reserve allocation of Rp1,000,000,000 (one billion Rupiah).
48
Page 52
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
23. OTHER COMPREHENSIVE INCOME
This account consists of:
March 31, 2025 December 31, 2024
Balance at beginning of the period/year 120.684.881 (62.121.168)
Other comprehensive profit (loss)
current period/year - 182.806.049
Balance at the end of the period/year 120.684.881 120.684.881
Addition to other comprehensive income consists of actuarial gains (losses) on the remeasurement
of employee benefits liabilities and related income taxes attributable to owners of the parent entity.
24. NON-CONTROLLING INTERESTS
This account consists of:
March 31, 2025 December 31, 2024
Balance at beginning of the period/year 11.864.655.951 375.549.799
Share of net profit from subsidiaries 22.195.159.619 11.425.415.826
Acquisition of subsidiaries - 59.849.645
Other comprehensive income sectiion
from subsidiary entities - 3.840.681
Balance at the end of the period/year 34.059.815.570 11.864.655.951
25. REVENUE
March 31, 2025 March 31, 2024
Telecommunications 81.750.504.803 75.233.804.027
Non-telecommunications 4.644.067.792 3.101.183.780
Total 86.394.572.595 78.334.987.807
There is no revenue from a single customer that exceeds 10% of the total consolidated revenue.
49
Page 53
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
26. COST OF GOODS SOLD
March 31, 2025 March 31, 2024
Repair and maintenance 9.322.701.790 10.938.481.284
Depreciation 8.577.358.302 3.581.311.206
Rent equipment 4.180.911.400 2.833.896.871
BHP Universal Service Obligation (USO) and
BHP Radio Station License (ISR) 1.452.901.879 2.172.150.112
Electricity and telephone expenses 1.445.544.431 654.912.199
Amortization 870.024.390 472.093.435
Supervision and monitoring 451.756.932 1.667.427.685
Unloading fee 319.005.000 2.163.333.333
Material load 18.439.157 2.295.951.598
Operational expenses 759.382.810 897.607.856
Total 27.398.026.091 27.677.165.579
There are no purchases from one supplier that exceed 10% of total consolidated revenue.
27. SALES EXPENSES
This Account consists of:
March 31, 2025 March 31, 2024
Commission and profit sharing 8.129.282.266 6.999.329.310
Marketing 976.342.465 308.848.204
Advertisement 193.787.280 -
Total 9.299.412.011 7.308.177.514
28. GENERAL AND ADMINISTRATIVE EXPENSES
This Account consists of:
March 31, 2025 March 31, 2024
Salary, wages, bonuses and benefits 23.303.532.175 15.925.894.419
Depreciation of fixed and right-of-use assets 2.359.704.714 1.551.595.467
Professional service 1.559.655.762 789.205.245
Office operations 522.135.189 714.855.753
Business trip 516.626.514 218.983.900
Amortization 410.403.092 3.234.629
Safety and hygiene 395.759.875 670.297.925
50
Page 54
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
28. GENERAL AND ADMINISTRATIVE EXPENSES
March 31, 2025 March 31, 2024
Expedition 391.465.688 148.848.265
Utility 387.694.446 569.856.273
Fuel, tolls and parking 326.726.894 474.013.674
Repair and maintenance 288.754.679 311.817.545
Retribution 76.153.874 133.621.532
Tax expenses 44.656.298 238.307.460
Legality and licensing 13.750.000 99.273.950
IPO expenses - 775.250.000
Others 304.981.176 303.643.471
Total 30.902.000.376 22.928.699.508
29. FINANCIAL INCOME
March 31, 2025 March 31, 2024
Interest income 14.777.666 24.353.822
Loan interest income 33.770.000 -
Total 48.547.666 24.353.822
30. FINANCIAL CHARGES
March 31, 2025 March 31, 2024
Interest on bank loan 327.105.856 447.298.338
Privisions and administration 118.913.213 15.011.619
Interest on consumer financing
debt 84.090.431 166.646.446
Affiliate loan interest - 100.000.000
Total 530.109.500 728.956.403
31. OTHER INCOME (EXPENSES)
March 31, 2025 March 31, 2024
Administrative income 272.064.022 -
Foreign exchange gain (loss) 50.882.601 (2.698.909)
Stamp duty income 23.988.032 19.324.125
Other income (expenses) 132.712.312 123.185.182
Total 479.646.967 139.810.398
51
Page 55
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
32. EARNINGS PER SHARES
March 31, 2025 March 31, 2024
Attributable net profit
to the owners of the parent entity 13.700.766.465 15.071.831.503
Weighted average sum
outstanding shares 1.375.000.000 1.100.000.000
Net Earnings per Share 9,96 13,70
33. BALANCE AND TRANSACTIONS WITH RELATED PARTIES
In normal business activities, the Group carries out transactions with related parties. These
transactions are as follows:
a. Nature of Relationships and Transactions with Related Parties
Entity Relationship Nature of Transaction
Budi Aditya Erna Mulyanto Affiliate Other payables
PT Fiber Network Indonesia Entities with common control Other payables
Affiliates are shareholders and/or members of the board of directors and board of
commissioners or family relationships with the Company's shareholders.
Transactions with related parties are carried out with conditions equivalent to those applicable
in normal transactions.
b. Other Receivables
March 31, 2025 December 31, 2024
PT Fiber Network Indonesia 2.006.382.911 2.135.074.394
Percentage of total
consolidated assets 0,42% 0,56%
c. Other Payables
March 31, 2025 December 31, 2024
Budi Aditya Erna Mulyanto 32.482.940.713 32.457.940.713
Total 32.482.940.713 32.457.940.713
Percentage of total
consolidated liabilities 18,58% 27,48%
52
Page 56
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
33. BALANCE AND TRANSACTIONS WITH RELATED PARTIES (continued)
c. Other Payables (continued)
Other payables to Mr. Budi Aditya Erna Mulyanto Budi Aditya Erna Mulyanto for the loan of
funds for the Company's operational activities (see Note 16).
34. FINANCIAL INSTRUMENTS
The following table presents the carrying amounts and estimated fair values of financial
instruments recorded in the consolidated statements of financial position as of March 31, 2025 and
December 31, 2024:
March 31, 2025 December 31, 2024
Carrying Fair Carrying Fair
Amount Value Amount Value
Financial Assets
Cash 20.191.018.507 20.191.018.507 12.232.029.244 12.232.029.244
Account receivables 16.936.542.297 16.936.542.297 15.497.364.014 15.497.364.014
Other receivables 20.735.956.416 20.735.956.416 2.663.037.138 2.663.037.138
Other non-current assets -
Deposit 1.753.023.953 1.753.023.953 1.612.948.445 1.612.948.445
Total Financial Assets 59.616.541.173 59.616.541.173 32.005.378.841 32.005.378.841
Financial Liabilities
Bank loan 59.502.908.148 59.502.908.148 14.275.592.845 14.275.592.845
Account payables 32.250.819.660 32.250.819.660 17.307.863.802 17.307.863.802
Accued expenses 8.808.897.043 8.808.897.043 6.947.264.704 6.947.264.704
Other payables 32.612.669.484 32.612.669.484 33.220.896.569 33.220.896.569
Consumer financing debt 3.277.239.486 3.277.239.486 4.082.834.161 4.082.834.161
Lease liabilities 10.113.663.755 10.113.663.755 16.621.216.935 16.621.216.935
Total Financial Liabilities ############# ############# 92.455.669.016 92.455.669.016
35. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
Financial Risks
The Group is affected by various financial risks, including credit risk, liquidity risk and market risk.
The Group's overall risk management objective is to effectively control these risks and minimize
the adverse impact they may have on their financial performance.
Financial risk management is under direct supervision by the Board of Directors who are tasked
with identifying and evaluating financial risks in close collaboration with the Group's operating
units. The Board of Directors determines overall financial risk management principles, as well as
policies in certain areas, such as credit risk and liquidity risk, as well as the use of derivative and
non-derivative financial instruments, and investment in excess liquidity.
53
Page 57
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
35. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (continued)
Financial Risks (continued)
a. Credit Risk
Credit risk is the risk that one party to a financial instrument will fail to fulfill its obligations and
cause the other party to experience financial losses. The credit risk faced by the Group
originates from operating activities (mainly from trade receivables from third parties) and from
funding activities, including bank accounts.
The Group's credit risk exposure is primarily in managing trade receivables. The Group
monitors the collectibility of receivables so that collections can be received in a timely manner
and also reviews each customer's receivables periodically to assess the potential for
collection failures and establish reserves based on the results of this review.
The Group's exposure to credit risk arises from negligence of other parties, with a maximum
exposure equal to the carrying amount of the Group's financial assets, as follows:
March 31, 2025 December 31, 2024
Cash 20.191.018.507 12.232.029.244
Account receivables 16.936.542.297 15.497.364.014
Other receivables 20.735.956.416 2.663.037.138
Other non-current assest -
Deposit 1.753.023.953 1.612.948.445
Total 59.616.541.173 32.005.378.841
b. Liquidity Risk
Liquidity risk is defined as the risk when the Group's cash flow position indicates that short-
term receipts are not sufficient to cover short-term expenditure. The Group's liquidity needs
have historically arisen from the need to finance investments and capital expenditures related
to business expansion programs. The Group requires substantial working capital to undertake
new projects and to fund operations.
In managing liquidity risk, the Group monitors and maintains cash levels that are considered
adequate to finance the Group's operations and to overcome the impact of cash flow
fluctuations. The Group also regularly evaluates cash flow projections and actual cash flows,
including loan maturity schedules, and continues to review financial market conditions to
maintain funding flexibility by maintaining the availability of committed credit facilities.
54
Page 58
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
35. FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES (continued)
c. Capital Management
The main objective of the Company's capital management is to ensure that it maintains a
strong credit rating and healthy capital ratios in order to support the smooth running of its
business and maximize shareholder value. The Company manages its capital structure and
makes adjustments in connection with changes in economic conditions and the
characteristics of its business risks. In order to maintain and adjust its capital structure, the
Company will adjust the amount of dividend payments to shareholders or the rate of return on
capital or issue share certificates. There are no changes in objectives, policies and processes
and are the same as in previous years.
The company monitors its capital structure using the debt to capital ratio, where total debt is
divided by total capital.
The calculation of the debt to equity ratio is as follows:
March 31, 2025 December 31, 2024
Interest-bearing loans 105.506.480.873 68.200.540.510
Total equity 298.969.057.316 263.073.131.232
Debt to Equity Ratio 0,35 0,26
55
Page 59
PT REMALA ABADI Tbk AND SUBSIDIARIES
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
For the Three-Month Periods Ended March 31, 2025 and 2024
(Dinyatakan Dalam Rupiah, Kecuali Dinyatakan Lain)
56
Names mentioned 72 people and organisations named in the text · linked when the evidence is strong
unresolved
org
REMALA ABADI Tbk
p.1 ×115
unresolved
person
Fajra Rizqi Nasution
p.10
unresolved
org
Minister of Justice and Human Rights
p.10
unresolved
person
Notary Elizabeth Karina Leonita
· Notaris
p.10 ×10
unresolved
org
Minister of Law
p.10 ×2
unresolved
org
Minister of Law and Human Rights
p.10 ×10
unresolved
org
Financial Services Authority
p.10
unresolved
org
Indonesia Stock Exchange
p.10
unresolved
org
PT PC
p.11 ×9
unresolved
org
PT Akselerasi Informasi
p.11
unresolved
org
PT Fiber Kerumah
p.11
unresolved
org
PT Fiber Media
p.11
unresolved
org
PT Jaringan Fiber
p.11
unresolved
person
Anita Munaf
p.12
unresolved
person
Rpiansyah Rizal
p.12 ×2
unresolved
org
PT Solusi Aplikasi Andalan Semesta
p.12 ×3
unresolved
person
Novita Sari Sianturi
p.12
unresolved
org
PT Akselerasi Informasi Indonesia
p.13 ×2
unresolved
org
PT Darpa Balakosa Semesta. So
p.13
unresolved
org
PT Darpa Balakosa Semesta
p.13
unresolved
org
PT Fiber Kerumah Indonesia
p.13 ×2
unresolved
person
Iman Taufik
p.13
unresolved
org
Wukong Technology Partners Limited
p.14 ×5
unresolved
org
PT Fiber Media Indonesia
p.14 ×5
unresolved
org
PT Jaringan Fiber Indonesia
p.14
unresolved
person
Nova Helida
p.14
unresolved
person
Idriansyah Rizal
p.14
unresolved
org
PT Mitra Integrasi Bersama
p.15
unresolved
person
Daniar Wasdiana
p.15
unresolved
org
Bank Indonesia
p.22
unresolved
org
PT Bank DKI
p.30
unresolved
org
PT Bank Maluku Malut
p.30
unresolved
org
PT Raya Esa Hutama
p.32 ×2
unresolved
org
PT Jangkar Putra Indonesia
p.32 ×2
unresolved
org
PT Fiber Kerumah Indonesia. Receivable
p.32
unresolved
org
PT Jasa Rosa
p.32
unresolved
org
PT Fajar Mitra Krida
p.32
unresolved
org
PT Netco Trans Nusa
p.32
unresolved
org
PT Sunday Insurance Indonesia
p.33 ×3
unresolved
org
PT Sentra Inovasi Prima
p.33 ×2
unresolved
org
PT Mustika Ratu Center.
p.34 ×5
unresolved
org
PT Alindatama Saktib Rother
p.37
unresolved
org
PT Mustika Ratu Center. Right-of-use
p.39
unresolved
person
KH Mansyur
p.40
unresolved
person
Prof. Dr. Soepomo
p.43
unresolved
person
Ir. Mangkudijojo Kp. Jatirasa
p.43
unresolved
—
Subtotal
p.44 ×2
unresolved
org
PT Mustika Ratu Centre
p.45
unresolved
org
PT Triasmitra Multiniaga Internasional
p.46
unresolved
org
PT BCA Finance
p.46 ×3
unresolved
org
PT Mega Finance
p.46
unresolved
person
Notary Kumala Tjahjani Widodo
p.51 ×2
unresolved
org
PT Fiber Network Indonesia
p.55 ×2
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