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Page 1
2 ANNUAL
24
    REPORT




                                                  SHAPING
                                                 THE FUTURE




       PT STEEL PIPE INDUSTRY OF INDONESIA Tbk
Page 2

          
Page 3
Laporan Tahunan 2024




  Sanggahan & Batasan Tanggung Jawab
  Disclaimer

  Laporan tahunan ini memuat pernyataan kondisi keuangan, hasil operasi, proyeksi,             This annual report contains financial conditions, operation results, projections, plans,

  rencana, strategi, kebijakan, serta tujuan Perseroan, yang digolongkan sebagai               strategies, policies, as well as objectives of the Company, which are classified as

  pernyataan ke depan dalam pelaksanaan perundang-undangan yang berlaku, kecuali               forwardlooking statements in the implementation of the applicable laws and regulations,

  hal-hal yang bersifat historis.                                                              excluding historical matters.



  Pernyataan-pernyataan tersebut memiliki prospek risiko, ketidakpastian, serta dapat          Such forward-looking statements are subject to known and unknown risks (prospective),

  mengakibatkan perkembangan aktual secara material berbeda dari yang dilaporkan.              uncertainties, and other factors that can cause the actual results to differ materially from

                                                                                               the expected results.

  Pernyataan-pernyataan prospektif dalam laporan tahunan ini dibuat berdasarkan

  berbagai asumsi mengenai kondisi terkini dan kondisi mendatang Perseroan serta               Prospective statements in this annual report are prepared based on numerous

  lingkungan bisnis di mana Perseroan menjalankan kegiatan usaha.                              assumptions concerning current conditions and future events of the Company, and the

                                                                                               business environment where the Company conducts its business.

  Perseroan tidak menjamin bahwa dokumen-dokumen yang telah dipastikan keabsahannya

  akan membawa hasil-hasil tertentu sesuai harapan. Laporan tahunan ini memuat kata            The Company shall have no obligation to guarantee that all the valid documents

  “SPINDO” dan “Perseroan/Perusahaan” yang didefinisikan sebagai PT Steel Pipe Industry         presented will bring specific results as expected. This annual report contains the words

  of Indonesia Tbk yang merancang dan memproduksi berbagai macam produk pipa baja              “SPINDO” and “Company”, hereinafter referred to PT Steel Pipe Industry of Indonesia

  berdasarkan kategori, yang dibuat untuk memenuhi pesanan dan untuk persediaan, yang          Tbk, as a company that designing and producing various steel pipe products related,

  meliputi produksi berbagai jenis pipa yang dibuat dari karbon hot rolled, cold rolled, dan   made to fulfill orders and made for supplies, which includes various types of pipes made of

  stainless steel.                                                                             hot rolled, cold rolled, and stainless steel.




              Tata Kelola Perusahaan              Tanggung Jawab Sosial Perusahaan                     Referensi                                Laporan Keuangan                       a
              Corporate Governance                  Corporate Social Responsibility                   References                               Financial Statements
Page 4
                                                                                                                        2024 Annual Report


Daftar Isi
Table of Contents
Bab | Chapter        Isi | Contents                                                                                   Halaman | Pages
                Ikhtisar Utama                                           Highlight                                                        01

    1           Ikhtisar Utama
                Peristiwa Penting 2024
                Ikhtisar Utama
                                                                         Highlight
                                                                         Events Highlight in 2024
                                                                         Financial Highlight
                                                                                                                                          02
                                                                                                                                          03
                                                                                                                                          04
                Ikhtisar Saham                                           ISSP Share Highlight                                             07
                Aksi Korporasi                                           Corporate Action                                                 10
                Penghargaan & Partisipasi tahun 2024                     Awards & Participations in 2024                                  12


                Laporan Manajemen                                        Management Report                                                13
                Laporan Dewan Komisaris                                  Report form Board of Commissioners                               14

    2           Profil Dewan Komisaris
                Laporan Direksi
                Profil Direksi
                                                                         Board of Commissioners Profile
                                                                         Report form Board of Directors
                                                                         Board of Directors Profile
                                                                                                                                          18
                                                                                                                                          23
                                                                                                                                          29


                Profil Perusahaan                                         Corporate Profile                                                 35
                Data Perusahaan                                          Corporate Data                                                   36

    3           Sekilas Perusahaan
                Visi, Misi, dan Nilai-Nilai
                Jejak Langkah
                                                                         Company at a Glance
                                                                         Vision, Mission, and Corporate Values
                                                                         Milestones
                                                                                                                                          38
                                                                                                                                          40
                                                                                                                                          42
                Bidang Usaha, Produk, dan Jasa                           Business Lines, Products, and Services                           44
                Ÿ   Produk                                               Ÿ   Products                                                     44
                Ÿ   Jasa                                                 Ÿ   Services                                                     47
                Ÿ   Inspeksi & Pengujian Produk                          Ÿ   Inspections & Tests                                          50
                Ÿ   Rantai Kegiatan Usaha Bisnis                         Ÿ   The Chain of Business Activities                             52
                Ÿ   Sertifikasi                                           Ÿ   Certifications                                                54
                Ÿ   Wilayah Operasi                                      Ÿ   Areas of Operation                                           56
                Ÿ   Informasi Pabrik                                     Ÿ   Plant Information                                            58
                Ÿ   Informasi Kantor Perwakilan, Depo & lainnya          Ÿ   Representative Office, Depot & Other Information              61
                Struktur Organisasi                                      Organizational Structure                                         62
                Manajemen Modal Manusia                                  Human Capital Management                                         64
                Komposisi Karyawan                                       Composition of Employee                                          74
                Komposisi Pemegang Saham                                 Composition of Shareholders                                      76
                Lembaga Penunjang Profesi & Pasar Modal                  Professional Institutions & Capital Market                       80
                Informasi pada Situs Perusahaan                          Information on the Company’s Website                             81


                Analisa & Pembahasan Manajemen                           Management Discussion & Analysis                                 83
                Tinjauan Bisnis                                          Overview of Business Performance                                 84

    4           Proyek-proyek
                4 Key Market
                Kinerja Penjualan
                                                                         Projects
                                                                         4 Key Market
                                                                         Performance of Sales
                                                                                                                                          93
                                                                                                                                          95
                                                                                                                                          96
                Tinjauan Operasional                                     Overview of Operational Performance                              98
                Tinjauan Keuangan                                        Overview of Financial Performance                              102
                Prospek Usaha                                            Business Prospect                                              110
                Kebijakan Dividen                                        Dividend Policy                                                112
                Perubahan Peraturan Perundang-Undangan                   The Changes in Laws which Significantly Affect to               114
                yang Berdampak Terhadap Perusahaan                       the Company
                Informasi Kelangsungan Usaha                             Business Continuity Information                                115

b                   Ikhtisar Utama                   Laporan Manajemen                         Profil Perusahaan         Analisa & Pembahasan Manajemen
                      Highlights                     Management Report                         Company Profile           Management Discussion & Analysis
Page 5
Laporan Tahunan 2024




    Bab | Chapter                Isi | Contents                                                                                      Halaman | Pages




      5
                         Tata Kelola Perusahaan                                 Corporate Governance                                              117
                         Tata Kelola Perusahaan                                 Corporate Governance                                              118
                         Rapat Umum Pemegang Saham [RUPS]                       General Meeting of Shareholders [GMS]                             124
                         Rapat Umum Pemegang Saham Tahunan [RUPST]              Annual General Meeting of Shareholders [AGMS]                     131
                         Dewan Komisaris                                        Board of Commissioners                                            140
                         Direksi                                                Board of Directors                                                147
                         Rapat Dewan Komisaris dan Direksi                      Meeting of the Board of Commissioners and                         161
                                                                                the Board of Directors
                         Organ Penunjang Dewan Komisaris                        Supporting Organs of the Board of Commissioners                   164
                         Komite Audit                                           Audit Committee                                                   165
                         Fungsi Nominasi & Remunerasi                           Nomination & Remuneration Function                                173
                         Sekretaris Perusahaan                                  Corporate Secretary                                               174
                         Audit Internal                                         Internal Audit                                                    184
                         Audit Eksternal                                        External Audit                                                    188
                         Sistem Pengendalian Internal                           Internal Control System                                           190
                         Manajemen Resiko                                       Risk Management                                                   192
                         Pedoman Perilaku                                       Code of Conduct                                                   197
                         Upaya Penegakan & Sanksi Pelanggaran                   Enforcement Efforts & Sanctions of Code Violation                 200
                         Kode Etik
                         Penerapan Pedoman Tata Kelola Perusahaan               Implementation of Public Companies Corporate                      206
                         Terbuka OJK                                            Governance’ Guidelines in Compliance with OJK




      6
                         Tanggung Jawab Sosial Perusahaan                       Corporate Social Responsibility                                   219
                         Kebijakan Tanggung Jawab Sosial Perusahaan             Corporate Social Responsibilities Policy                          220
                         Tanggung Jawab Sosial Perusahaan Terkait               Corporate Social Responsibilities Related to Human                227
                         Hak Asasi Manusia                                      Rights
                         Tanggung Jawab Sosial Perusahaan Terkait               Corporate Social Responsibilities Related to Fair                 229
                         Operasi yang Adil                                      Operations
                         Tanggung Jawab Sosial Perusahaan Terkait               Corporate Social Responsibilities Related to                      231
                         Lingkungan Hidup                                       Environment
                         Tanggung Jawab Sosial Perusahaan Terkait               Corporate Social Responsibilities Related to                      236
                         Ketenagakerjaan & K3                                   Manpower & OSH
                         Tanggung Jawab Sosial Perusahaan Terkait               Corporate Social Responsibilities Related to                      249
                         Pengembangan Sosial & Kemasyarakatan                   Social & Community Development
                         Tanggung Jawab Sosial Perusahaan Kepada                Corporate Social Responsibilities to Customers                    257
                         Pelanggan




      7
                         Referensi                                              Reference                                                         259
                         Referensi SEOJK No.30/SEOJK.04/2016: Laporan           Public Reference of OJK Circular Letter                           260
                         Tahunan Perusahaan                                     No.30/SEOJK.04/2016: Annual Report & Public
                                                                                Company




      8
                         Laporan Keuangan                                       Financial Statements                                              275
                         Surat Pernyataan Anggota Dewan Komisaris & Direksi     The Board of Commissioners’ & The Board of Directors’             276
                         Tentang Tanggung Jawab Atas Laporan Tahunan            Statement of Responsibility for the 2024 Annual Report
                         2024 PT Steel Pipe Industry of Indonesia Tbk           of PT Steel Pipe Industry of Indonesia Tbk
                         Laporan Keuangan Konsolidasi                           Consolidated Financial Statements                                 277


        Tata Kelola Perusahaan              Tanggung Jawab Sosial Perusahaan              Referensi                         Laporan Keuangan            c
        Corporate Governance                  Corporate Social Responsibility            References                        Financial Statements
Page 6
                                                                                                           2024 Annual Report




Kesinambungan Tema | The Continuity of The Theme




                     20        “Maintaining Direction & Accelerate Growth”, Perseroan tetap berupaya secara optimal mempertahankan
                               target bersama yang telah ditetapkan. Dengan optimalisasi produksi yang mengedepankan protokol



                     20
                               kesehatan serta pola pemasaran yang mengutamakan kepuasan pelanggan, SPINDO dapat melewati dan
                               bahkan meningkatkan pertumbuhan selama 2020.


                               “Maintaining Direction & Accelerate Growth”, The Company still strives to continue its efforts to achieve the
                               common goal. By way of production optimization that emphasizes health protocol and market pattern that
                               prioritizes customers’ satisfaction, SPINDO successfully managed to overcome and even increase growth in
                               2020.




                     20        “Growing Stronger, Aiming High”, Sejak pandemi Covid-19 melanda dunia pada awal 2020, pertumbuhan
                               ekonomi global mengalami penurunan yang sangat tajam, termasuk ekonomi Indonesia. Penurunan pada



                     21
                               semua sektor bisnis berdampak pula pada kinerja Perseroan. Operasional Perseroan menghadapi tantangan
                               pada penerapan protokol kesehatan dan optimalisasi produksi. Perseroan berusaha untuk terus
                               mempertahankan arah pertumbuhan untuk menggapai target melalui kinerjanya di tahun 2020.


                               “Growing Stronger, Aiming High”, Since the Covid-19 pandemic hit the world in early 2020, global economic
                               growth has experienced a very sharp decline, including the Indonesian economy. The decline in all business
                               sectors also impacted the Company's performance. The Company's operations face challenges in
                               implementing health protocols and optimizing production. The Company strives to continue to maintain its
                               growth direction to achieve targets through its performance in 2020.




                       20      “Agile, Grit & Innovative in Challenges”, Menghadapi perubahan dunia yang bergerak cepat dan berdampak
                               kepada perilaku bisnis, maka Perseroan dituntut cepat beradaptasi menghadapi berbagai tantangan tak



                       22
                               terduga. Perseroan sebagai pemain terkemuka dalam bisnis pipa baja tetap lincah dan gesit dalam mengambil
                               keputusan serta penuh inovasi.


                               Keberhasilan kinerja Perseroan sepanjang 2022 dalam penjualan menjadi tolak ukur untuk meningkatkan nilai
                               perusahaan dan mencapai pertumbuhan positif di tahun-tahun mendatang.


                               “Agile, Grit & Innovative in Challenges”, Facing world changes that move quickly and have an impact on
                               business behavior, the Company is required to adapt quickly to face various unexpected challenges. The
                               Company as a leading player in the steel pipe business remains agile and grit in making decisions and full of
                               innovation.


                               The success of the Company's performance throughout 2022 in sales is a benchmark for increasing company
                               value and achieving positive growth in the coming years.



d             Ikhtisar Utama           Laporan Manajemen                     Profil Perusahaan              Analisa & Pembahasan Manajemen
                Highlights             Management Report                     Company Profile                Management Discussion & Analysis
Page 7
Laporan Tahunan 2024




                                20         “Igniting Engagement, Elevating Excellence”, Kebijakan strategis Perseroan untuk membina hubungan

                                           kerjasama internal dan eksternal memberikan hasil fundamental yang kuat untuk pertumbuhan Perseroan ke


                                23         depan. Perseroan senantiasa mendukung seluruh rantai bisnis produk dan jasa pipa baja untuk kemajuan

                                           bersama.



                                           “Igniting Engagement, Elevating Excellence”, The Company's strategic policy of fostering internal and

                                           external collaboration ties has produced excellent fundamental benefits for the Company's future growth. The

                                           company always supports the full business chain of steel pipe products and services to ensure mutual

                                           success.




                                            20                       “Level Up, Shaping the Future”, industri pipa baja
                                                                     merupakan bagian integral dari sektor-sektor utama seperti
                                                                     infrastruktur dan konstruksi, energi, otomotive, dan furnitur,

                                            24                       yang semuanya menjadi bagian dari kehidupan masyarakat
                                                                     sehari-hari. Melalui teknologi, inovasi, dan praktik
                                                                     berkelanjutan, SPINDO akan melangkah naik level untuk
                                                                     membentuk masa depan produksi yang lebih ramah
                                                                     lingkungan dan lebih efisien.


                                                                     “Level Up, Shaping the Future”, the steel pipe industry is an
                                                                     integral part of key sectors such as infrastructure and
                                                                     construction, energy, automotive, and furniture, all of which
                                                                     are essential to daily life. Through technology, innovation, and
                                                                     sustainable practices, SPINDO is poised to elevate its
                                                                     operations, shaping a future of production that is both more
                                                                     environmentally friendly and more efficient.




       Tata Kelola Perusahaan    Tanggung Jawab Sosial Perusahaan               Referensi                        Laporan Keuangan                  e
       Corporate Governance        Corporate Social Responsibility             References                       Financial Statements
Page 8
                                                                      2024 Annual Report




                     Halaman ini sengaja dikosongkan
                     This page is intentionally left blank




f   Ikhtisar Utama       Laporan Manajemen         Profil Perusahaan   Analisa & Pembahasan Manajemen
      Highlights         Management Report         Company Profile     Management Discussion & Analysis
Page 9
Laporan Tahunan 2024




       Tata Kelola Perusahaan   Tanggung Jawab Sosial Perusahaan     Referensi    Laporan Keuangan      1
       Corporate Governance       Corporate Social Responsibility   References   Financial Statements   1
Page 10
                                                                                2024 Annual Report



Ikhtisar Utama
Highlight




            Laba Bersih                             Rp 530
            Tahun Berjalan                          Miliar | Billion
            Net Income of The Year




            Arus Kas                                Rp 893
            Operasional                             Miliar | Billion
            Operating Cash Flow




                                Rasio Lancar
                                Current Ratio
                                                                              326%




                                Net Debt
                                EBITDA
                                                                               2X



2              Ikhtisar Utama   Laporan Manajemen          Profil Perusahaan     Analisa & Pembahasan Manajemen
1                Highlights     Management Report          Company Profile       Management Discussion & Analysis
Page 11
Laporan Tahunan 2024




                  Peristiwa Penting 2024
                  Events Highlight in 2024


                                                                   Penerbitan Rp 1 Triliun Sustainability Link Bond
                                                                   yang ditanggung seluruhnya, secara tanpa syarat
                                                                   dan tidak dapat dibatalkan oleh

                                                                   The issuance of IDR 1 Trillion Sustainability-Linked Bond,
                                                                   fully guaranteed, unconditionally and irrevocably, by




                       Pembukaan Warehouse SPINDO Unit 7
                       SPINDO Plant 7 Warehouse Opening



                                                                                            Warehouse SPINDO Unit 7 yang
                                                                                            berlokasi di Gresik beroperasi di
                                                                                            tahun 2024.
                                                                                            The SPINDO Unit 7 Warehouse,
                                                                                            situated in Gresik, officially began
                                                                                            operations in 2024




                                                                             Pencanangan CSR Tematik Perdana
                                                                                         SPINDO
                                                                             Introducing SPINDO Cares — Our First Thematic
                                                                             CSR Initiative Dedicated to Improving Quality of Life




       Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan                   Referensi                      Laporan Keuangan      3
       Corporate Governance            Corporate Social Responsibility                 References                     Financial Statements   1
Page 12
                                                                                                                    2024 Annual Report



Ikhtisar Keuangan
Financial Highlight

                                                                                      Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain
                                                                                     Expressed in million of Rupiah, unless otherwise stated
 Laporan Posisi Keuangan Konsolidasian
 Consolidated Statements of Financial Position
                                                   2024                2023        2022                 2021                   2020
 (Balance Sheet)
 Jumlah Aset Lancar                              5.254.241           5.074.574   4.401.410           4.422.689              3.113.612
 Total Current Assets
 Jumlah Aset Tidak Lancar                        3.041.186           2.897.134   3.004.521           2.674.633              2.962.992
 Total Non-Current Assets
 Jumlah Aset                                     8.295.427           7.971.708   7.405.931           7.097.322              6.076.604
 Total Assets
 Jumlah Liabilitas Jangka Pendek                 1.611.148           2.497.358   2.606.899           2.761.503              2.162.323
 Total Current Liabilities
 Jumlah Liabilitas Jangka Panjang                1.640.528            856.004     654.497              548.706                578.941
 Total Non-Current Liabilities
 Jumlah Liabilitas                               3.251.676           3.353.362   3.261.396           3.310.209              2.741.264
 Total Liabilities
 Jumlah Ekuitas                                  5.043.751           4.618.346   4.144.535           3.787.113              3.335.340
 Total Equity
 Modal Kerja Bersih                              3.643.093           2.577.216   1.794.511           1.661.186                951.289
 Net working Capital

 Laporan Laba Rugi dan Penghasilan Komprehensif Lain Konsolidasian
 Consolidated Statements of Profit or Loss and Other Comprehensive Income
 Penjualan & Pendapatan Jasa                     6.118.364           6.455.329   6.255.945           5.378.808              3.775.530
 Sales & Service Revenues
 Laba Kotor                                      1.105.977           1.068.187    758.611            1.120.014                558.122
 Gross Profit
 Laba Sebelum Taksiran Beban Pajak                675.589             640.584     393.231              659.402                155.068
 Income Before Provision for Tax Expense
 Laba Bersih Tahun Berjalan                       530.063             498.059     305.849              486.061                175.835
 Net Income of the Year
 Jumlah Laba Komprehensif Tahun Berjalan          531.385             516.203     421.010              494.165                237.344
 Total Comprehensive Income for The Year

 Laba Tahun Berjalan yang dapat diatribusikan kepada :
 Income for the Year Attributable to :
     Pemilik Entitas Induk                     530.082               498.087     305.860              486.062                175.835
     Owners of the Parent entity
     Kepentingan Non Pengendali                    (19)                  (28)          (11)                   (1)                    10
     Non-Controlling Interests
                                               530.063               498.059     305.849              486.061                175.845

 Jumlah Laba Komprehensif Tahun Berjalan yang dapat diatribusikan kepada :
 Total Comprehensive Income for the Year Attributable to :
    Pemilik Entitas Induk                         531.404    516.231             421.021              494.166                237.334
    Owners of the Parent entity
    Kepentingan Non Pengendali                        (19)       (28)                  (11)                   (1)                    10
    Non-Controlling Interests
    Jumlah                                        531.385    516.203             421.010              494.165                237.344
    Total
 Laba per Saham Dasar (Rupiah Penuh)                75.03       70,50               43,29                 68,80                 24,89
 Basic Earning per Share (in full Rupiah)



4                    Ikhtisar Utama              Laporan Manajemen               Profil Perusahaan                   Analisa & Pembahasan Manajemen
1                      Highlights                Management Report               Company Profile                     Management Discussion & Analysis
Page 13
Laporan Tahunan 2024




                                                                        7.000.000



       Penjualan &                                                      6.000.000
       Pendapatan Jasa
       Sales & Service Revenues                                         5.000.000


       2024                                     6.118.364
                                                                        4.000.000

       2023                                     6.455.329
                                                                        3.000.000
       2022                                     6.255.945

       2021                                     5.378.808               2.000.000



       2020                                     3.775.530
                                                                        1.000.000   20          20    20      20                  20
      Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain
                                                                                    20          21    22      23                  24
      Expressed in millions of Rupiah, unless otherwise stated




                                                                        8.000.000




                                                                        7.000.000




                                                                        6.000.000

       Jumlah Aset
       Total Assets                                                     5.000.000


       2024                                     8,295,427
                                                                        4.000.000

       2023                                     7.971.708

       2022                                     7.405.931
                                                                        3.000.000




       2021                                     7.097.322               2.000.000



       2020                                     6.076.604
                                                                        1.000.000   20          20    20      20                  20
      Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain                        20          21    22      23                  24
      Expressed in millions of Rupiah, unless otherwise stated




       Laba Bersih
       Net Income
                                                                        500.000


       2024                                       530.063
                                                                        400.000
       2023                                        498.059

       2022                                        305.849              300.000




       2021                                        486.061              200.000



       2020                                        175.835
                                                                        100.000     20          20    20      20                  20
      Disajikan dalam ratusan ribu Rupiah, kecuali dinyatakan lain                  20          21    22      23                  24
      Expressed in in hundreds of thousands of Rupiah, unless
      otherwise stated



       Tata Kelola Perusahaan              Tanggung Jawab Sosial Perusahaan               Referensi         Laporan Keuangan           5
       Corporate Governance                  Corporate Social Responsibility             References        Financial Statements        1
Page 14
                                                                                                                           2024 Annual Report



Margin Laba
Net Profit Margin                                          10%



2024                                               8.7
                                                           8%


2023                                                7,7
                                                           6%

2022                                                4,9

2021                                                9,0
                                                           4%




2020                                                4,7    2%



Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain
                                                           0
Expressed in millions of Rupiah, unless otherwise stated

                                                                                   20      20             20          20            20
                                                                                   20      21             22          23            24


Laba per Saham Dasar
Basic Earnings per Share
                                                           100
2024                                            75.03

2023                                            70,50      80




2022                                            43,29      60


2021                                            68,80
                                                           40

2020                                            24,89
Disajikan dalam Rupiah, kecuali dinyatakan lain            20

Expressed in Rupiah, unless otherwise stated

                                                           0



                                                                                   20      20             20          20            20
                                                                                   20      21             22          23            24



Rasio-rasio                                                                             2024         2023          2022        2021              2020
Ratios

Pertumbuhan Bersih | Net Growth                                                         -5,2%        3,2%          16,3%     42,5%           -22,7%
Laba Kotor/Penjualan bersih | Gross Profit Margin                                       18,1%      16,5%           12,1%     20,8%             14,8%
Laba Bersih/Penjualan bersih | Profit Margin                                             8,7%        7,7%           4,9%        9,0%             4,7%
Imbal Hasil Aset | Return on Asset (ROA)                                                 6,4%        6,2%           4,1%        6,8%             2,9%
Imbal Hasil Ekuitas | Return on Equity (ROE)                                            10,5%      10,8%            7,4%     12,8%               5,3%
Aset Lancar/Liabilitas Jangka Pendek | Current Assets/Current Liabilities               326%        203%           169%       160%              144%
Jumlah Liabilitas/Jumlah Ekuitas | Total Liabilities/Total Equity                        64%          73%           79%         87%               82%
Jumlah Liabilitas/Jumlah Aset | Total Liabilities/Total Asset                            39%          42%           44%         47%               45%
Umur Piutang | AR Days                                                                    65             63          61            61                78




 6                         Ikhtisar Utama                      Laporan Manajemen                Profil Perusahaan           Analisa & Pembahasan Manajemen
 1                           Highlights                        Management Report                Company Profile             Management Discussion & Analysis
Page 15
Laporan Tahunan 2024



  Ikhtisar Saham ISSP
  ISSP Share Highlight
  450




                                                                                                                                                                                         4.500.000.000
                                                                                       406
                                                              400
  400




                                                                                                                                                                                         4.000.000.000
                                                                        398




  350




                                                                                                                                                                                         3.500.000.000
                                   3.390.672.800




                                                                                                                                                                           302
                                                                                                                                                         296
  300                                                                                          292                                            292
                                                                                                                                     290




                                                                                                                                                                                         3.000.000.000
                                                                                                        282
                                                                                                                                                                282

                                                                                                                               262
                                              2.567.799.000                                                                                                                        268
                                                                                                                     252
                                                                       2.496.222.400                          246
  250




                                                                                                                                                                                         2.500.000.000
                                                      240
                                                              2.405.374.600

                                                                                                                                                                        2,170,169,594,570
                                                                                                                                              2,127,053,642,360

                                      2.015.183.700
  200




                                                                                                                                                                                         2.000.000.000
                                                                                                                                                               2,026,449,753,870
                                          187
                                                                                                                                                                           1,925,845,865,380



                                   160
                1.501.751.600
                                                                                     1.493.658.000
  150

                                                                                                                                                                                         1.500.000.000
                   124
                            116
             110


        1.099.353.800
  100
                                                                                                                                                                                         1.000.000.000




                                                                                              844.264.000




                          747.825.200
                                                                                                     586.311.200


   50
                                                                                                                                                                                         500.000.000




                                                                                                                               397.242.800

                                                                                                                           216.508.100
                                                                                                                 197.453.900              188.870.100

                                                                                                168.428.200




          Q1       Q2       Q3      Q4       Q1        Q2      Q3       Q4      Q1       Q2       Q3        Q4      Q1         Q2        Q3    Q4       Q1        Q2      Q3        Q4


               2020                                2021                                2022                              2023                                2024
          Tata Kelola Perusahaan                Tanggung Jawab Sosial Perusahaan                        Referensi                                Laporan Keuangan                           7
          Corporate Governance                    Corporate Social Responsibility                      References                               Financial Statements                        1
Page 16
                                                                                                               2024 Annual Report




Kinerja Saham ISSP di Bursa Efek Indonesia |
ISSP Share Performance on The Indonesia Stock Exchange



                                                                                      Harga Saham
     Periode            Saham Beredar       Kapitalisasi Pasar                         Share Price                             Volume
     Period            Outstanding Share   Market Capitalization                                                            Perdagangan
                                                                                                                           Trading Volume
                                                                        Pembukaan Tertinggi       Terendah Penutupan
                                                                         Opening   Highest         Lowest   Closing


      2024
       Q1               7.185.992.035      2,127,053,642,360               304       306             292      296            323,474,100
       Q2               7.185.992.035      2,026,449,753,870               282       286             278      282            155,176,500
       Q3               7.185.992.035      2,170,169,594,570               302       304             298      302            202,593,700
       Q4               7.185.992.035      1,925,845,865,380               268       270             264      268            105,368,400
Selama Tahun Laporan    7.185.992.035      1,925,845,865,380               268       270             264      268            786,612,700
During The Year

      2023
       Q1               7.185.992.035      1.810.869.992.820               256       256             250      252            197.453.900
       Q2               7.185.992.035      1.882.729.913.170               270       270             260      262            216.508.100
       Q3               7.185.992.035      2.083.937.690.150               294       296             290      290            397.242.800
       Q4               7.185.992.035      2.098.309.674.220               294       294             288      292            188.870.100
Selama Tahun Laporan    7.185.992.035      2.098.309.674.220               256       296             250      292         1.000.074.900
During The Year

      2022
       Q1               7.185.992.035      2.917.512.770.000               398       460             348      406         1.493.658.000
       Q2               7.185.992.035      2.098.309.670.000               414       388             290      292            844.264.000
       Q3               7.185.992.035      2.026.499.750.000               292       314             264      282            586.311.200
       Q4               7.185.992.035      1.767.754.040.000               282       286             244      246            168.428.200
Selama Tahun Laporan    7.185.992.035      1.767.754.040.000               398       460             244      246         3.678.972.600
During The Year

      2021
       Q1               7.185.992.035      1.343.780.510.000               160       306             153      187         2.015.183.700
       Q2               7.185.992.035      1.724.638.090.000               187       312             187      240         2.567.799.000
       Q3               7.185.992.035      2.874.396.810.000               240       360             222      400         2.405.374.600
       Q4               7.185.992.035      2.860.024.830.000               400       510             290      398         2.496.222.400
Selama Tahun Laporan    7.185.992.035      2.860.024.830.000               160       510             153      400         9.484.579.700
During The Year

      2020
       Q1               7.185.992.035      1.465.942.375.140               188       204                 84   110         1.099.353.800
       Q2               7.185.992.035      1.825.241.976.890               204       183             110      124         1.501.751.600
       Q3               7.185.992.035      1.724.638.088.400               254       149             107      116            747.825.200
       Q4               7.185.992.035      1.509.058.327.350               240       202             115      160         3.390.672.800
Selama Tahun Laporan    7.185.992.035      1.509.058.327.350               188       204                 84   160         6.739.603.400
During The Year




 8                      Ikhtisar Utama              Laporan Manajemen                 Profil Perusahaan         Analisa & Pembahasan Manajemen
 1                        Highlights                Management Report                 Company Profile           Management Discussion & Analysis
Page 17
Laporan Tahunan 2024




  Pembayaran Dividen Selama Lima Tahun Terakhir | Dividend Payments Over the Last Five Years




  Tahun Buku            Tanggal Pembayaran                         Rp/Shm                   Jumlah Saham*                        Dividen Kotor
     Year                  Payment Date                          IDR/Shares                Number of Shares                      Gross Dividen

   2024                        31.07.2024                            15,00                   7.065.340.735                   105.980.111.025


   2023                        03.08.2023                             6,00                   7.065.340.735                     42.392.044.410


   2022                        03.08.2022                             9,00                   7.065.340.735                     63.588.066.615


   2021                        27.08.2021                             6,00                   7.065.340.735                     42.392.044.410


   2020                                                      Tidak ada pembagian dividen | No dividend payout

                               *Jumlah saham 7.065.340.735 tidak termasuk saham treasury, jika termasuk saham treasury adalah 7.185.992.035
                                The number of shares is 7,065,340,735 excluding treasury shares, and 7,185,992,035 including treasury shares.




          Tata Kelola Perusahaan            Tanggung Jawab Sosial Perusahaan           Referensi                 Laporan Keuangan                9
          Corporate Governance                Corporate Social Responsibility         References                Financial Statements             1
Page 18
                                                                                                                     2024 Annual Report



Aksi Korporasi
Corporate Action

Sesuai dengan keputusan RUPST yang ditandatangani pada 28 Juni           Pursuant to the AGMS resolutions signed on 28 June 2024, an
2024, disetujui untuk melakukan pembayaran dividen tunai sebesar         agreement was made by the members to pay a cash dividend of IDR
Rp 105,9 miliar atau setara dengan Rp 15,00 per lembar saham dan         105.9 billion or equivalent to IDR 15.00 per share and book a reserve
pembukuan Dana Cadangan sebesar Rp 10 miliar.                            fund of IDR 10 billion.


Pada tahun 2024, Perseroan menerbitkan Penawaran Umum                    In 2024, the Company issued the Public Offering of SPINDO
Obligasi Terkait Keberlanjutan I SPINDO Tahun 2024 dengan jumlah         Sustainability-linked Bonds I Year 2024 with a principal amount of
pokok sebesar Rp1.000.000.000.000,00 (“Obligasi Terkait                  IDR1,000,000,000,000.00 ("Sustainability-linked Bonds") that were
Keberlanjutan”) yang ditanggung seluruhnya, secara tanpa syarat          fully, unconditionally and irrevocably underwritten by the Credit
dan tidak dapat dibatalkan oleh Credit Guarantee & Investment            Guarantee & Investment Facility (CGIF), a trust fund of the Asian
Facility (CGIF) yaitu lembaga dana perwalian (trust fund) dari Asian     Development Bank, as the guarantor.
Development Bank, sebagai penanggung.


Obligasi diterbitkan tanpa warkat, ditawarkan dengan nilai 100%          The Bonds were issued scripless, offered at 100% (one hundred
(Seratus Persen), dalam 3 (tiga) seri yaitu:                             percent), in 3 (three) series, namely:
Ÿ    Seri A :                                                            Ÿ   Series A:
     Jumlah Pokok Obligasi Terkait Keberlanjutan Seri A sebesar              Principal amount of Sustainability-linked Bonds Series A
     Rp 33.780.000.000,00 (tiga puluh tiga miliar tujuh ratus delapan        amounting to IDR 33,780,000,000.00 (thirty-three billion seven
     puluh juta Rupiah) dengan tingkat bunga tetap sebesar 7,00%             hundred eighty million rupiahs) with a fixed interest rate of
     (tujuh koma nol nol persen) per tahun, yang berjangka waktu 3           7.00% (seven point zero per cent) per annum, having a term of 3
     (tiga) tahun sejak Tanggal Emisi;                                       (three) years from the Issue Date;
Ÿ    Seri B :                                                            Ÿ   Series B:
     Jumlah Pokok Obligasi Seri B sebesar Rp 766.220.000.000,00              Principal amount of Series B Bonds amounting to IDR
     (tujuh ratus enam puluh enam miliar dua ratus dua puluh juta            766,220,000,000.00 (seven hundred sixty-six billion two
     Rupiah) dengan tingkat bunga tetap sebesar 7,35% (tujuh koma            hundred twenty million rupiahs) with a fixed interest rate of
     tiga lima persen) per tahun, yang berjangka waktu 5 (lima) tahun        7.35% (seven point three five per cent) per annum, having a term
     sejak Tanggal Emisi;                                                    of 5 (five) years from the Issue Date;
Ÿ    Seri C :                                                            Ÿ   Series C:
     Jumlah Pokok Obligasi Seri C sebesar Rp 200.000.000.000,00              Principal amount of Series C Bonds amounting to IDR
     (dua ratus miliar Rupiah) dengan tingkat bunga tetap sebesar            200,000,000,000.00 (two hundred billion rupiahs) with a fixed
     7,35% (tujuh koma tiga lima persen) per tahun, yang berjangka           interest rate of 7.35% (seven point three five per cent) per
     waktu 7 (tujuh) tahun sejak Tanggal Emisi;                              annum, having a term of 7 (seven) years from the Issue Date;


Bunga Obligasi Terkait Keberlanjutan dibayarkan setiap 3 (tiga)          The payment of the Sustainability-linked Bonds interest was made
bulan, dimana Bunga Obligasi Terkait Keberlanjutan pertama akan          every three months, where payment of the first Sustainability-linked
dibayarkan pada tanggal 9 Oktober 2024, sedangkan Bunga Obligasi         Bonds interest was made on 9 October 2024. Payment of the last
Terkait Keberlanjutan terakhir sekaligus pelunasan Obligasi Terkait      Sustainability-linked Bonds Interest and redemption of the
Keberlanjutan akan dibayarkan pada tanggal 9 Juli 2027 untuk             Sustainability-linked Bonds were made on 9 July 2027 for the Series
Obligasi Terkait Keberlanjutan Seri A, tanggal 9 Juli 2029 untuk         A Sustainability-linked Bonds, on 9 July 2029 for the Series B
Obligasi Terkait Keberlanjutan Seri B dan tanggal 9 Juli 2031 untuk      Sustainability-linked Bonds, and on 9 July 2031 for the Series C
Obligasi Terkait Keberlanjutan Seri C. Pelunasan masing-masing seri      Sustainability-linked Bonds respectively. The repayment of each
Obligasi Terkait Keberlanjutan akan dilakukan secara penuh (bullet       series of the Sustainability-linked Bonds is made in full at maturity
payment) pada saat jatuh tempo.                                          (bullet payment).


10                     Ikhtisar Utama                Laporan Manajemen                   Profil Perusahaan            Analisa & Pembahasan Manajemen
 1                       Highlights                  Management Report                   Company Profile              Management Discussion & Analysis
Page 19
Laporan Tahunan 2024




  Penangguhan Saham Perseroan | Suspension of the Company’s Shares

  Perdagangan saham Perseroan di Bursa Efek Indonesia tidak           Trading of the Company’s shares on the Indonesia Stock Exchange
  mengalami penangguhan sementara selama tahun 2024.                  was not suspended at any time during 2024.




         Tata Kelola Perusahaan   Tanggung Jawab Sosial Perusahaan          Referensi                   Laporan Keuangan         11
         Corporate Governance       Corporate Social Responsibility        References                  Financial Statements       1
Page 20
                                                                                                                   2024 Annual Report



Penghargaan Tahun 2024
Awards in 2024


                 Best Sustainalibility-Linked
                 Transaction 2024

                 18th Annual Borrower Issuer Awards 2024
                 Alpha Southeast Asia



                                                                        Sustainable Finance 2025


                                                                         The Asset Triple A Awards-ASEAN/DEAL




                          Best Vendor In
                          Pricing Support
                          PT Pertamina Patra Niaga
                                  Desember | December 2024



                                                               Perusahaan Industri Jawa Timur
                                                               Peserta Sertifikasi Hijau Tahun 2024
                                                               East Java Industrial Companies Participating
                                                               in Green Certification in 2024

                                                               Pejabat Gubernur Jawa Timur | Acting Governor of East Java

                                                        22 Agustus | August 2024




                     The Best Sectors
                     Investortrust Companies 2024
                     Sektor Bahan Baku | Raw Material Sector


                     Investortrust                 16 Mei | May 2024



                                                                              Penghargaan Capaian Investasi
                                                                                   Tertinggi Kota Surabaya.
                                                                                    Highest Investment Achievement Award
                                                                                                         for Surabaya City

                                                                                     Walikota Surabaya | Mayor of Surabaya

                                                                       01 Maret | March 2024




12               Ikhtisar Utama                  Laporan Manajemen                      Profil Perusahaan            Analisa & Pembahasan Manajemen
 1                 Highlights                    Management Report                      Company Profile              Management Discussion & Analysis
Page 21
Laporan Tahunan 2024




       Tata Kelola Perusahaan   Tanggung Jawab Sosial Perusahaan     Referensi    Laporan Keuangan      13
       Corporate Governance       Corporate Social Responsibility   References   Financial Statements    2
Page 22
                                                                                                                           2024 Annual Report




Laporan Dewan
Komisaris
Report from Board of Commissioners




Para pemegang saham yang terhormat,                                           Dear shareholders,



Di tahun 2024 ini, Kami dengan bangga menginformasikan bahwa Perseroan        In 2024, we are proud to announce that the Company has achieved a

telah menorehkan prestasi dengan meraih penghargaan "Best Sustainability-     significant milestone by receiving the "Best Sustainability-Linked Bond"

Linked Bond" dalam ajang 18th Annual Borrower Issuer Awards 2024 oleh         award at the 18th Annual Borrower Issuer Awards 2024 presented by Alpha

Alpha Southeast Asia dan The Asset Triple A Awards - ASEAN/DEAL/              Southeast Asia and The Asset Triple A Awards - ASEAN/DEAL/ Awards untuk

Awards untuk kategori Sustainable Finance 2025.                               kategori Sustainable Finance 2025.



Sustainability Linked-Bond (SLB) ini merupakan yang pertama yang              The Company issued the first Sustainability Linked-Bond in Indonesia. The

diterbitkan di Indonesia. Penerbitan instrumen utang berbasis keberlanjutan   sustainability-based debt instrument was issued in the form of sustainability-

ini berupa obligasi terkait keberlanjutan dengan nilai maksimal 1 Triliun     linked bonds with a maximum value of IDR 1 trillion, that are fully guaranteed

Rupiah, dan akan dijamin sepenuhnya (unconditional and irrevocable) oleh      (unconditional and irrevocable and unconditional) by the Credit Guarantee &

Credit Guarantee & Investment Facility ("CGIF") sehingga SLB I Spindo         Investment Facility ("CGIF") so that SPINDO's SLB I is rated AAA (Triple A) by

memperoleh peringkat AAA (Triple A) dari Pefindo.                              PEFINDO, i.e. Indonesia's independent credit rating agency.



Bahwa penerbitan SLB dan hutang jangka panjang oleh Perseroan                 The issuance of the SLB and long-term debt by the Company is part of an

merupakan salah satu upaya mitigasi resiko terhadap fluktuasi ekonomi yang     effort to mitigate risks associated with the economic fluctuations anticipated

menantang di tahun mendatang. Selain itu, Perseroan juga mampu                in the coming years. Additionally, the Company has been able to enhance its

meningkatkan proses manufaktur, mendanai inisiatif ramah lingkungan,          manufacturing processes, fund green initiatives, invest in cleaner

berinvestasi dalam teknologi yang lebih bersih, dan memperluas kapasitas      technologies, and expand our capacity to meet the growing demand for

kami untuk memenuhi permintaan yang terus meningkat akan produk yang          environmentally responsible products.

bertanggung jawab terhadap lingkungan.




14                     Ikhtisar Utama                    Laporan Manajemen                   Profil Perusahaan              Analisa & Pembahasan Manajemen
 2                       Highlights                      Management Report                   Company Profile                Management Discussion & Analysis
Page 23
Laporan Tahunan 2024




  Melalui Laporan Tahunan ini, perkenankan Kami menyampaikan laporan              Through this Annual Report, we are pleased to present the Company's
  pengelolaan Perseroan di sepanjang tahun 2024, sebagai salah satu wujud         management report for the year 2024, as a form of our accountability to the
  pertanggungjawaban Kami kepada Pemegang Saham beserta seluruh                   Shareholders and all other stakeholders. This Annual Report also reflects the
  pemangku kepentingan lainnya. Laporan Tahunan ini juga menjadi                  Company's commitment to transparency, consistently upholding the
  implementasi transparansi Perseroan yang senantiasa berupaya menjunjung         principles of Corporate Governance, and ensuring their continuous
  tinggi prinsip-prinsip Tata Kelola Perusahaan secara konsisten dan              implementation in the day-to-day operations of the business.
  berkesinambungan dalam menjalankan kegiatan usaha sehari-hari.



  Penilaian Kinerja Direksi
  Assessment of Board of Directors’ Performance
  Dewan Komisaris SPINDO mengapresiasi kinerja Direksi di tahun 2024 dalam        SPINDO Board of Commissioners appreciates the Board of Directors'
  upaya meningkatkan laba bersih sebesar Rp 530 milyar, tumbuh 6,4%               performance in 2024 as they increased the net profit by IDR 530 billion, which
  dibandingkan dari tahun 2023 sebesar Rp 498 milyar. Laba bersih yang            is a 6.4% growth compared to that of IDR 498 billion in 2023. The increased
  meningkat menjadi indikator kuat tidak hanya untuk kinerja keuangan kami,       net profit has served as a strong indicator not only for the solid financial
  tetapi juga pertumbuhan dan ketahanan perusahaan kami yang berkelanjutan.       performance, but also for the continued growth and resilience of our Company.


  Laba bersih tahun 2024 ini merupakan rekor laba bersih selama 2 tahun           The net profit for 2024 marks a record for two consecutive years of positive
  berturut-turut. Hal ini merupakan bukti nyata upaya kami untuk memperluas       results. This achievement is a tangible testament to our efforts in expanding
  pangsa pasar, meningkatkan efisiensi operasional, dan menyediakan produk         market share, improving operational efficiency, and providing products that
  yang memenuhi kebutuhan pelanggan yang terus berkembang. Kami mampu             meet the evolving needs of our customers. We have successfully navigated
  mengatasi berbagai tantangan, seperti kenaikan biaya material dan gangguan      various challenges, such as rising material costs and supply chain disruptions,
  rantai pasokan, sambil tetap berkomitmen pada tujuan jangka panjang kami        while remaining committed to our long-term objectives of sustainability and
  yaitu keberlanjutan dan inovasi.                                                innovation.


  Kami juga memberikan apresiasi kepada Direksi dengan kebijakan strategis        We are appreciative of the Board of Directors' important policies that were
  yang telah berjalan sepanjang tahun 2024. Kebijakan strategis tersebut          adopted in 2024. The key policies included expanding new markets and
  antara lain : memperluas pasar baru dan menciptakan nilai baru untuk industri   creating new value for the steel pipe industry, promoting more efficient eco-
  pipa baja, teknologi manufaktur ramah lingkungan yang lebih efisien dan          friendly manufacturing technology and product development, and
  pengembangan produk, serta mempererat hubungan dengan end-user.                 strengthening relationships with end-users. All the strategic policies were
  Seluruh kebijakan strategis tersebut telah berjalan secara konsisten dan        implemented in a consistent and sustainable manner.
  berkesinambungan.



  Pengawasan terhadap Direksi
  Supervision of the Board of Directors
  Dalam menjalankan tugasnya sepanjang tahun 2024, Dewan Komisaris telah          The Board of Commissioners performed their supervisory role in supervising
  melaksanakan fungsi pengawasan terhadap Direksi dengan penuh tanggung           the Board of Directors in a fully responsible and independent manner as they
  jawab dan independensi. Pengawasan yang dilakukan bertujuan untuk               had fulfilled their duties throughout the year 2024. The BOC supervision is
  memastikan bahwa setiap keputusan dan kebijakan yang diambil oleh Direksi       aimed at ensuring that every decision taken and policy enacted by the Board of
  telah sesuai dengan visi, misi, serta kepentingan perusahaan, serta memenuhi    Directors shall be accordance with the Company's vision, mission and
  ketentuan yang berlaku.                                                         interests and in compliance with the prevailing rules and regulations.




           Tata Kelola Perusahaan          Tanggung Jawab Sosial Perusahaan              Referensi                         Laporan Keuangan                  15
           Corporate Governance              Corporate Social Responsibility            References                        Financial Statements                2
Page 24
                                                                                                                                                         2024 Annual Report




Pada tahun 2024, Dewan Komisaris secara berkala melakukan rapat evaluasi                                 In 2024, the Board of Commissioners regularly held evaluation meetings with
dengan Direksi sebanyak 6 kali untuk memonitor pencapaian kinerja                                        members of the Board of Directors, that were a total of six meetings, in an effort
perusahaan, menganalisis risiko yang ada, dan memberikan rekomendasi                                     to monitor the Company's performance achievements, analyze existing risks,
strategis guna mendukung pengambilan keputusan yang lebih tepat.                                         and provide strategic recommendations for a more informed decision-making.


Kami melakukan pengawasan tambahan melalui Komite Audit, yang memberi                                    We conducted an additional oversight through the Audit Committee, which
kami gambaran yang jelas mengenai jalannya manajemen risiko dan fungsi                                   provided us with a clearer picture of the implementation of the risk
kontrol internal, kepatuhan, audit internal dan eksternal. Komunikasi dari                               management and internal control, compliance, as well as internal and external
Dewan Komisaris kepada Direksi telah berjalan dengan baik berupa nasehat                                 audit. We saw good communication between members of the Board of
dan saran dalam rapat formal maupun informal terkait hal-hal yang spesifik.                               Commissioners with those of the Board of Directors taking the form of advice
Kami mengapresiasi dedikasi dan komitmen Direksi dalam mengelola                                         and suggestions in formal and informal meetings regarding specific matters.
perusahaan, serta berharap agar pengawasan yang dilakukan dapat terus                                    We appreciate the dedication and commitment of the Board of Directors in
memperkuat kinerja perusahaan dan mendukung pencapaian tujuan jangka                                     managing the Company, and very much hope that the BOC supervision will
panjang yang berkelanjutan.                                                                              continue to strengthen the Company's performance and facilitate the
                                                                                                         attainment of our sustainable long-term goals.


Dukungan terhadap Keberlanjutan
Sustainability Support Initiatives
Keberlanjutan telah menjadi bagian dari seluruh proses bisnis Perseroan. Kami                            Sustainability has become an integral part of the Company's entire business
secara reguler mengevaluasi pertimbangan keberlanjutan saat menjalankan                                  processes. We regularly evaluate sustainability considerations in carrying out
fungsi pengawasan maupun pemberian saran dan masukan kepada Direksi,                                     our supervisory functions as well as in providing advice and recommendations
baik dalam hal pengembangan strategi, rencana bisnis, hingga pengelolaan                                 to the Board of Directors, including in the development of strategies, business
manajemen risiko.                                                                                        planning, and risk management.


Sesuai pedoman kami “Improving Quality of Life”, Perseroan harus memberi                                 In line with our guiding principle, “Improving Quality of Life”, the Company is
dampak positif kepada lingkungan dan masyarakat. Untuk mengurangi                                        committed to creating a positive impact on the environment and society. To
dampak perubahan iklim, Perseroan telah mengupayakan efisiensi energi                                     mitigate the effects of climate change, the Company has undertaken energy
untuk gas dan BBM dengan pembaharuan mesin, serta menggunakan                                            efficiency initiatives for gas and fuel consumption through machinery upgrades,
alternatif sumber energi dari solar cell. Komitmen kepada lingkungan dan                                 as well as the utilization of alternative energy sources such as solar cells. The
masyarakat juga telah diwujudkan dengan program CSR bertajuk "SPINDO                                     Company's commitment to the environment and society is also reflected in its
Untuk Air Bersih", dimana program ini dirancang untuk mendukung                                          Corporate Social Responsibility (CSR) program titled “SPINDO for Clean
pembangunan sarana infrastruktur air bersih di Desa Petungsinaran,                                       Water”, which is designed to support the development of clean water
Kecamatan Bandar, Kabupaten Pacitan.                                                                     infrastructure in Petungsinaran Village, Bandar Subdistrict, Pacitan Regency.



Penilaian Penerapan Tata Kelola Perusahaan
Assessment of Corporate Government Implementation
Perseroan menyusun Pedoman Tata Kelola Perusahaan berdasarkan pada                                       The Company develops its Corporate Governance Guidelines pursuant to the
l i m a p r i n s i p G CG ya n g m e l i p u t i : t ra n s p a ra n s i , a k u n t a b i l i t a s,   five principles of good corporate governance (GCG) that comprise transparency,
pertanggungjawaban, kemandirian dan kewajaran. Prinsip-prinsip tersebut                                  accountability, responsibility, independence, and fairness. These principles lay
memberikan landasan bagi keberlangsungan usaha, dan Perseroan telah                                      the foundation for business sustainability and the Company has indicated
menunjukkan peningkatan yang stabil sesuai prinsip-prinsip tersebut.                                     sustained improvements in the implementation of the GCG principles.


Kami mengawasi implementasi kebijakan terkait tata kelola perusahaan yang                                We oversee the implementation of the Company's policies on GCG, compliance
baik (GCG), kepatuhan terhadap peraturan yang berlaku, serta efektivitas                                 with existing regulations, and operational effectiveness. In addition, we review
operasional perusahaan. Selain itu juga tinjauan dan revisi Piagam Direksi                               and revise the Board of Directors Charter so as to be fully aligned with the latest


16                              Ikhtisar Utama                               Laporan Manajemen                           Profil Perusahaan                 Analisa & Pembahasan Manajemen
 2                                Highlights                                 Management Report                           Company Profile                   Management Discussion & Analysis
Page 25
Laporan Tahunan 2024




  agar sejalan dengan pedoman terbaru dari OJK. Pelaksanaan sosialisasi               guidelines set out by Indonesia's Financial Services Authority (OJK). The
  whistleblower di seluruh unit-unit Perseroan telah berjalan dengan baik dan         dissemination of whistleblowing policy to all Company units was properly
  pada tahun 2024 terjadi 1 laporan pelanggaran dan telah ditindaklanjuti             conducted in 2024, and as a result there was only one report of violation report
  dengan pemberian sanksi.                                                            and sanction was then imposed accordingly.



  Perubahan Dewan Komisaris
  Changes in the Board of Commissioners
  Pada tahun 2024 terjadi pergantian anggota Dewan Komisaris, yaitu Bapak             In 2024, there was a change in the composition of the Board of
  Entario Widjaja Susanto menggantikan Ibu Endang Fifi Susanto. Kami                   Commissioners, in which Mr. Entario Widjaja Susanto replaced Ms. Endang
  mengucapkan terima kasih yang sebesar-besarnya kepada para dewan                    Fifi Susanto. We would like to express our deepest gratitude to the Board of
  komisaris yang telah memberikan dedikasi dan kontribusi luar biasa selama masa      Commissioners for their dedication and outstanding contributions during their
  tugas mereka.                                                                       tenure.


  Kami memberikan apresiasi kepada para pemegang saham dan pemangku                   We should also like to extend our appreciation to all shareholders and
  kepentingan atas kepercayaan terus-menerus yang diberikan. Semoga                   stakeholders for their unwavering faith. We sincerely hope that your
  dukungan anda terus bersama kami dalam berbagai upaya membawa                       unflagging support improves our commitment and effort in bringing positive
  perubahan yang positif bagi kehidupan, lingkungan, dan masa depan bisnis kami.      changes to lives, the environment and the future of our business.



  Pandangan ke Depan
  Business Outlook
  Kami percaya bahwa untuk tahun mendatang konsumsi baja nasional akan                We believe that in the years to come, Indonesia's steel consumption will
  meningkat seiring proyeksi tingkat pertumbuhan PDB sekitar 5,3%, didorong           increase in line with the projected GDP growth rate of around 5.3%, which is
  oleh konsumsi domestik yang kuat, proyek infrastruktur, dan ekonomi digital         driven by strong domestic consumption, infrastructure projects, and a
  yang sedang berkembang pesat. Investasi berkelanjutan pemerintah dalam              booming digital economy. The government's continued investment in large-
  infrastruktur skala besar, seperti pengembangan Proyek Strategis Nasional           scale infrastructure, such as the National Strategic Projects (PSN), will make
  (PSN), akan mendorong permintaan di berbagai sektor, termasuk baja,                 demands across various sectors, including steel, construction, and
  konstruksi, dan manufaktur.                                                         manufacturing.


  Masa depan produksi pipa baja dibentuk oleh keberlanjutan, teknologi, dan           The future of steel pipe production is shaped by sustainability, technology, and
  dinamika pasar. Perseroan telah beradaptasi terhadap dinamika pasar dan             market dynamics. The Company has adapted to market dynamics and
  melaksanakan berbagai perencanaan strategis menghadapi kompetisi industri           executed various strategic plans to face the increasingly competitive national
  baja nasional yang semakin.                                                         steel industry.


  Akhir kata, saya mewakili Dewan Komisaris memberikan penghargaan yang               Finally, on behalf of the Board of Commissioners, I would like to express my
  sebesar-besarnya kepada Direksi, manajemen, dan seluruh karyawan atas kerja         sincere appreciation to the Board of Directors, management and all employees
  kerasnya di sepanjang tahun 2024. Kami telah naik ke jenjang yang lebih tinggi      for their hard work throughout the year. We have now climbed a step higher
  melalui inovasi dan keberlanjutan, “Level Up! Shaping The Future"                   through innovation and sustainability, "Level Up! Shaping The Future"




                                                                       Jakarta, 18 April 2025

                                                                   Makmur Widjaja
                                                     Komisaris Utama | President Commissioner
                                                  Komisaris Independen | Independent Commissioner

           Tata Kelola Perusahaan           Tanggung Jawab Sosial Perusahaan                 Referensi                         Laporan Keuangan                  17
           Corporate Governance               Corporate Social Responsibility               References                        Financial Statements                2
Page 26
                                                                                                                             2024 Annual Report




Profil Dewan Komisaris
Board of Commissioners Profile


                                                      Makmur Widjaja
                                                      Komisaris Utama              President Commissioner
                                                      Komisaris Independen         Independent Commissioner

                                                       Kewarganegaraan | Nationality                Indonesia | Indonesian
                                                       Usia | Age                                   64 tahun per 31 Desember 2024
                                                                                                    64 years old as of 31 December 2024
                                                       Domisili | Domicile                          Jakarta




Dasar Hukum Pengangkatan               Diangkat kembali sebagai Komisaris Utama dan Komisaris Independen berdasarkan Akta Pernyataan
Legal Basis of Appointment             Keputusan Rapat Perseroan Terbatas No.41 tanggal 28 Juni 2024
                                       Reappointed as a President Commissioner and Independent Commissioner based on Deed of Resolutions
                                       of the Company Meeting No. 41 dated 28 June 2024.


Riwayat Pekerjaan                      Ÿ   Komisaris, PT Shinhan Sekuritas Indonesia (2016-2019);
Work Experience                        Ÿ   Wakil Komisaris Utama dan Ketua Komite Audit, PT Steel Pipe Industry of Indonesia Tbk (2012-
                                           2020);
                                       Ÿ   Direktur Utama, PT Makinta Securities (2004-2009);
                                       Ÿ   Managing Director, PT Makinta Securities (2000-2004);
                                       Ÿ   Direktur Corporate Finance, PT Bhakti Investama Tbk (1994-1999);
                                       Ÿ   Head of Corporate Finance, PT Bali Securities (1992-1994);
                                       Ÿ   Financial & Accounting Controller, PT Brushindo Cemerlang (1988-1990);
                                       Ÿ   Assistant Director, PT Waykandis (1985-1988);
                                       Ÿ   Auditor, Ernst & Young (d/h SGV Utomo) (1983-1985)
                                       Ÿ   Commissioner, PT Shinhan Sekuritas Indonesia (2016-2019);
                                       Ÿ   Vice President Commissioner and Chairman of Audit Committee, PT Steel Pipe Industry of
                                           Indonesia Tbk (2012 - 2020);
                                       Ÿ   President Director, PT Makinta Securities (2004-2009);
                                       Ÿ   Managing Director, PT Makinta Securities (2000-2004);
                                       Ÿ   Corporate Finance Director PT Bhakti Investama Tbk (1994-1999);
                                       Ÿ   Head of Corporate Finance, PT Bali Securities (1992-1994)
                                       Ÿ   Financial & Accounting Controller, PT Brushindo Cemerlang (1988-1990);
                                       Ÿ   Assistant Director, PT Waykandis (1985-1988);
                                       Ÿ   Auditor, Ernst & Young (d/h SGV Utomo) (1983-1985)




18                    Ikhtisar Utama                   Laporan Manajemen                   Profil Perusahaan                  Analisa & Pembahasan Manajemen
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Laporan Tahunan 2024




         Rangkap Jabatan                             Ÿ   Komisaris Utama, PT Shinhan Sekuritas Indonesia (2016-sekarang);
         Concurrent Positions                        Ÿ   Komisaris Independen PT Campina Ice Cream Industry Tbk (2017-sekarang).
                                                     Ÿ   President Commissioner, PT Shinhan Sekuritas Indonesia (2016-current);
                                                     Ÿ   Independent Commissioner, PT Campina Ice Cream Industry Tbk (2017-current).


         Riwayat Pendidikan                          Ÿ   MBA & Magister Manajemen, Prasetya Mulya Business School, Jakarta, Indonesia (1992);
         Educational Background                      Ÿ   Sarjana dari Fakultas Ekonomi, Universitas Katolik Parahyangan, Bandung, Indonesia (1985).
                                                     Ÿ   MBA & Master’s Degree in Management, Prasetya Mulya Business School, Jakarta, Indonesia
                                                         (1992);
                                                     Ÿ   Bachelor’s Degree in Economic, Universitas Katolik Parahyangan, Bandung, Indonesia (1985).


         Hubungan Afiliasi                            Tidak memiliki afiliasi dengan sesama anggota Direksi, atau anggota Dewan Komisaris, atau dengan
         Affiliate Relations                          pemegang saham utama.
                                                     Does not have any affiliations with fellow members of the Board of Directors, or members of the Board
                                                     of Commissioners, nor with the ultimate shareholder.


         Jumlah Kepemilikan Saham ISSP               -
         Total ISSP Share Ownership




       Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan                Referensi                       Laporan Keuangan                19
       Corporate Governance             Corporate Social Responsibility              References                      Financial Statements              2
Page 28
                                                                                                                                2024 Annual Report




                                                                 Entario Widjaja Susanto
                                                                 Komisaris | Commissioner
                                                                 Kewarganegaraan | Nationality                Indonesia | Indonesian
                                                                 Usia | Age                                   49 tahun per 31 Desember 2024
                                                                                                              49 years old as of 31 December 2024
                                                                 Domisili | Domicile                          Jakarta




Dasar Hukum Pengangkatan                Diangkat sebagai Komisaris berdasarkan Akta Pernyataan Keputusan Rapat Perseroan
Legal Basis of Appointment              Terbatas No.41 tanggal 28 Juni 2024.
                                        Appointed as a Commissioner based on Deed of Resolutions of the Company Meeting No.
                                        41 dated 28 June 2024.


Riwayat Pekerjaan                       Ÿ   Direktur Umum dan SDM, PT Saranacentral Bajatama (2005-2023).
Work Experience                         Ÿ   Marketing Manager, PT Saranacentral Bajatama (2000-2005);
                                        Ÿ   System Engineer, PT Ericsson Indonesia (1999-2000);
                                        Ÿ   MEP Programmer, PT Mattel Indonesia (1998-1999).
                                        Ÿ   Human Resources Director, PT Saranacentral Bajatama (2005-2023).
                                        Ÿ   Marketing Manager, PT Saranacentral Bajatama (2000-2005);
                                        Ÿ   System Engineer, PT Ericsson Indonesia (1999-2000;.
                                        Ÿ   MEP Programmer, PT Mattel Indonesia (1998-1999).


Rangkap Jabatan                         Ÿ   Direktur, PT Saranacentral Bajatama Tbk (2005-sekarang)
Concurrent Positions                    Ÿ   Director, PT Saranacentral Bajatama Tbk (2005-current)


Riwayat Pendidikan                      Sarjana Teknik Mesin, Universitas Massachusetts di Amherst, AS (1996)
Educational Background                  Bachelor of Mechanical Engineering, University of Massachusetts at Amherst, USA (1996)


Hubungan Afiliasi                        Memiliki hubungan afiliasi dengan anggota Dewan Komisaris lainnya dan anggota Direksi,
Affiliate Relations                      dan juga beliau memiliki hubungan afiliasi dengan Pemegang Saham Utama atau
                                        Pengendali.
                                        He has affiliations with others members of the Board of Commissioners and members of
                                        the Board of Directors, and also she has relationship with the main and controlling
                                        shareholder.


Jumlah Kepemilikan Saham ISSP           -
Total ISSP Share Ownership




20                     Ikhtisar Utama                      Laporan Manajemen                     Profil Perusahaan               Analisa & Pembahasan Manajemen
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Page 29
Laporan Tahunan 2024




             Bing Hartono Poernomosidi
             Komisaris Independen | Independent Commissioner
             Kewarganegaraan | Nationality                Indonesia | Indonesian
             Usia | Age                                   66 tahun per 31 Desember 2024
                                                          66 years old as of 31 December 2024
             Domisili | Domicile                          Surabaya




             Dasar Hukum Pengangkatan               Diangkat kembali sebagai Komisaris Independen berdasarkan Akta Pernyataan Keputusan Rapat
             Legal Basis of Appointment             Perseroan Terbatas No. 41 tanggal 28 Juni 2024.
                                                    Reappointed as a Independent Commissioner based on Deed of Resolutions of the Company Meeting
                                                    No. 41 dated 28 June 2024.


             Riwayat Pekerjaan                      Ÿ    Managing Partner, Prasetio, Sarwoko & Sandjaja, Ernst & Young Surabaya Office (2009-2023);
             Work Experience                        Ÿ    Managing Partner, Hanadi, Sarwoko & Sandjaja, Ernst & Young Surabaya Office (2000-2002);
                                                    Ÿ    Direktur Utama, PT Jaya Pari Steel Tbk (1996-2000);
                                                    Ÿ    Pimpinan Cabang Utama, Prasetio Utomo, Arthur Andersen (1990-1995).
                                                    Ÿ    Managing Partner, Prasetio, Sarwoko & Sandjaja, Ernst & Young Surabaya Office (2009-2023);
                                                    Ÿ    Managing Partner, Hanadi, Sarwoko & Sandjaja, Ernst & Young Surabaya Office (2000-2002);
                                                    Ÿ    President Director, PT Jaya Pari Steel Tbk (1996-2000);
                                                    Ÿ    Head of Main Branch, Prasetio Utomo, Arthur Andersen (1990-1995).


             Rangkap Jabatan                        Ÿ    Komisaris, PT Semen Indogreen Indonesia (2020-sekarang);
             Concurrent Positions                   Ÿ    Komite Audit, PT Campina Ice Cream Industry Tbk (2017-sekarang);
                                                    Ÿ    Komisaris Utama & Komisaris Independen, PT Integra Indocabinet Tbk (2016-sekarang);
                                                    Ÿ    Komisaris Independen, PT Langgeng Makmur Industry Tbk (2014-sekarang);
                                                    Ÿ    Komite Audit, PT Trias Sentosa Tbk (2008-sekarang);
                                                    Ÿ    Komisaris Independen, PT Sekar Laut Tbk (Juni 2023-sekarang).
                                                    Ÿ    Commissioner, PT Semen Indogreen Indonesia. (2020-current);
                                                    Ÿ    Audit Committee, PT Campina Ice Cream Industry Tbk (2017-current);
                                                    Ÿ    President Commissioner & Independent Commissioner, PT Integra Indocabinet Tbk (2016-current);
                                                    Ÿ    Independent Commissioner, PT Langgeng Makmur Industry Tbk (2014-current);
                                                    Ÿ    Audit Committee, PT Trias Sentosa Tbk (2008-current);
                                                    Ÿ    Komisaris Independen, PT Sekar Laut Tbk (June 2023-current).


             Riwayat Pendidikan                     Ÿ    Sarjana ekonomi jurusan akuntansi, Universitas Airlangga, Surabaya, Indonesia (1984).
             Educational Background                 Ÿ    Bachelor of economic, majoring in accounting, Airlangga University, Surabaya, Indonesia (1984).
                                                         Informal | Informal
                                                    Ÿ    Kursus bisnis profesional, Arthur Andersen, St. Charles, Chicago, USA.
                                                    Ÿ    Professional business courses, Arthur Andersen, St. Charles, Chicago, USA.
                                                         Organisasi | Organization
                                                    Ÿ    Anggota The Indonesian Institute of Accountants.
                                                    Ÿ    Member of The Indonesian Institute of Accountants.


             Hubungan Afiliasi                       Tidak memiliki afiliasi dengan sesama anggota Dewan Komisaris, atau anggota Direksi, atau dengan
             Affiliate Relations                     pemegang saham utama.
                                                    Does not have any affiliations with fellow members of the Board of Commissioners, or members of the
                                                    Board of Directors, nor with the ultimate shareholder.


             Jumlah Kepemilikan Saham ISSP          -
             Total ISSP Share Ownership

       Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan                  Referensi                        Laporan Keuangan                  21
       Corporate Governance             Corporate Social Responsibility                References                       Financial Statements                2
Page 30
                                                                                                                            2024 Annual Report




                                                         Welly Tantono
                                                         Komisaris Independen         Independent Commissioner
                                                         Komite Audit                 Audit Committee

                                                         Kewarganegaraan | Nationality                Amerika Serikat | United States of America
                                                         Usia | Age                                   49 tahun per 31 Desember 2024
                                                                                                      49 years old as of 31 December 2024
                                                         Domisili | Domicile                          Singapore




Dasar Hukum Pengangkatan                Diangkat kembali sebagai Komisaris Independen berdasarkan Akta Pernyataan Keputusan Rapat
Legal Basis of Appointment              Perseroan Terbatas No. 41 tanggal 28 Juni 2024.
                                        Reappointed as an Independent Commissioner based on Deed of Resolutions of the Company Meeting
                                        No. 41 dated 28 June 2024.


Riwayat Pekerjaan                       Ÿ   Consultant, Honestbee (2018-2019);
Work Experience                         Ÿ   General Counsel & Data Privacy Officer, Honestbee (2017-2018);
                                        Ÿ   Country Counsel, Hewlett Packard Enterprise (2015-2017);
                                        Ÿ   CEO & General Counsel, The Good Life Cooperative (2013-2014);
                                        Ÿ   Counsel, Asia Pacific Bain & Company (2012-2014);
                                        Ÿ   IP Counsel, Asia Pacific Hewlett Packard (2010-2011);
                                        Ÿ   Senior Corporate Counsel, Entropic Communications (Maxlinear) (2008-2010);
                                        Ÿ   Business Associate, Cooley Godward Kronish (Cooley) (2004-2008);
                                        Ÿ   Litigation, Cooley Godward Kronish (Cooley) (2003-2004);
                                        Ÿ   Associate, Weil Gotshal & Manges (2001-2003);
                                        Ÿ   Associate, Kenyon & Kenyon (Andrews Kurth Kenyon) (1999-2001);
                                        Ÿ   Summer Associate, Kenyon & Kenyon (Andrews Kurth Kenyon) (1998-1998).


Rangkap Jabatan                         Ÿ   Ketua Komite Audit PT Steel Pipe Industry of Indonesia Tbk (2022-sekarang);
Concurrent Positions                    Ÿ   Dosen, National University of Singapore (2020-sekarang);
                                        Ÿ   General Counsel, Company Secretary, Data Protection Officer & Interim Head of Information
                                            Security (2019-sekarang).
                                        Ÿ   Chairman of Audit Committee PT Steel Pipe Industry of Indonesia Tbk (2022-current);
                                        Ÿ   Lecturer, National University of Singapore (2020-current);
                                        Ÿ   General Counsel, Company Secretary, Data Protection Officer & Interim Head of Information
                                            Security (2019-current).


Riwayat Pendidikan                      Ÿ   Doktor Yurisprudensi pada bidang Hukum, Duke University School of Law, Amerika Serikat (1999);
Educational Background                  Ÿ   Sarjana di bidang Matematika, Harvard University, Amerika Serikat (1996).
                                        Ÿ   JD in Law, Duke University School of Law, USA (1999);
                                        Ÿ   BA in Mathematics, Harvard University, USA (1996).


Hubungan Afiliasi                        Tidak memiliki afiliasi dengan sesama anggota Direksi, atau anggota Dewan Komisaris, atau dengan
Affiliate Relations                      pemegang saham utama.
                                        Does not have any affiliations with fellow members of the Board of Directors, or members of the Board
                                        of Commissioners, nor with the ultimate shareholder.


Jumlah Kepemilikan Saham ISSP           -
Total ISSP Share Ownership




22                     Ikhtisar Utama                    Laporan Manajemen                     Profil Perusahaan              Analisa & Pembahasan Manajemen
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Page 31
Laporan Tahunan 2024




 Laporan
 Direksi
  Report from Board of Directors




  Para Pemegang Saham dan Pemangku Kepentingan yang terhormat,                  Dear Shareholders and Stakeholders,


  Masa depan produksi pipa baja dibentuk oleh keberlanjutan, teknologi, dan     The future of steel pipe production is shaped by sustainability, technology and
  dinamika pasar. Saat ini kami telah merancang untuk memenuhi kebutuhan        market dynamics. We have taken strategic steps to meet the industry's
  industri yang terus berkembang sekaligus memastikan dampak positif bagi       growing needs while creating positive impacts on the environment and
  lingkungan dan masyarakat dengan berfokus pada tiga pilar inti: Tanggung      society by focusing on three central pillars: Environmental Responsibility,
  Jawab Lingkungan, Inovasi Teknologi, dan Ekspansi Pasar dengan                Technological Innovation, and Market Expansion with Sustainability as Core.
  Keberlanjutan sebagai Inti.


  Kondisi pasar saat ini menunjukkan konsumen yang semakin memprioritaskan      Today's market has witnessed consumers' increasingly higher priority on
  keberlanjutan, mendorong perusahaan untuk mengadopsi strategi                 sustainability, prompting companies to adopt transparent marketing
  pemasaran yang transparan yang menyoroti komitmen mereka terhadap             strategies that highlight their commitment to environmentally-friendly
  praktik ramah lingkungan. Pasar baja menghadapi tantangan seperti biaya       practices. The steel market has been faced with such challenges as fluctuating
  bahan baku yang berfluktuasi dan dinamika perdagangan yang berubah,            costs of raw material and the complex dynamics of trade. Companies then
  perusahaan harus tetap beradaptasi sambil menanggapi permintaan               need to remain adaptive as they respond to consumer demand for product
  konsumen akan kualitas dan tanggung jawab lingkungan.                         quality and environmental responsibility.


  “Level Up! Shaping The Future" berarti maju melalui inovasi, keberlanjutan,   For SPINDO, "Level Up! Shaping The Future" means making steady progress
  dan pemahaman yang tajam tentang perilaku konsumen yang terus                 through innovation, promoting sustainability and gaining an in-depth
  berkembang, memastikan produsen baja tetap relevan dan bertanggung            understanding of the ever-changing patterns of consumer's behavior. As a
  jawab di dunia yang terus berubah. Sebagai wujud pertanggungjawaban           manifestation of our responsibility as the Board of Directors, this 2024 Annual
  kami selaku Direksi, Laporan Tahunan 2024 ini dibuat dengan menjunjung        Report has been compiled with the utmost commitment to upholding the
  tinggi prinsip-prinsip Tata Kelola Perusahaan secara konsisten dan            principles of Corporate Governance, ensuring consistency and continuity in
  berkesinambungan dalam menjalankan kegiatan usaha sehari-hari.                their application throughout our daily business operations.




           Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan             Referensi                         Laporan Keuangan                  23
           Corporate Governance             Corporate Social Responsibility           References                        Financial Statements                2
Page 32
                                                                                                                                2024 Annual Report




Kondisi Ekonomi Domestik & Global | Domestic & Global Economic Conditions
Kondisi ekonomi Indonesia di tahun 2024 mencatat penurunan pertumbuhan           Indonesia's economic condition recorded a growth decline to 5.03% in 2024,
menjadi 5,03% pada tahun 2024, lebih rendah dari tahun sebelumnya yang           that was lower than the previous year's figure of 5.05%. Such a slowdown
mencapai 5.05%. Perlambatan ekonomi Indonesia menunjukkan kerentanan             posed challenges and highlighted an economic vulnerability to domestic and
terhadap tantangan kondisi global dan lokal yang terjadi, namun tetap            global affairs. Still, it showed a positive growth rate. Several sectors, which
menunjukkan angka pertumbuhan yang positif. Beberapa sektor, seperti jasa        include other services and nonprofit consumption, contributed significantly to
lainnya dan konsumsi lembaga nonprofit, memberikan kontribusi signifikan           the growth.
terhadap pertumbuhan tersebut.


Nilai tukar rupiah melemah hingga melebihi angka Rp 16.000 per dollar AS         The IDR exchange rate weakened to exceed IDR 16,000 per US dollar as one
sebagai salah satu dampak dari konflik geopolitik sejumlah negara. Salah satu     of the impacts of the geopolitical conflicts in several countries. One of the
penyebab kuatnya mata uang dollar AS itu lantaran suku bunga The Fed             contributing factors to the strong US dollar is that the Fed's interest rate
bertahan pada angka yang cukup tinggi untuk jangka cukup panjang (higher         remained at a high level of between 5.25%-5.50% for a fairly long period of
for longer), yakni di kisaran 5,25-5,50 persen dan menjadi yang tertinggi        time (higher for longer), which was the highest in at least the last two decades.
setidaknya dalam dua dekade terakhir. Sementara, Tiongkok sebagai raksasa        Meanwhile, China as an industrial giant has been faced with a slow economic
industri mengalami tantangan dengan pertumbuhan ekonomi yang melambat,           growth, particularly a sluggish property sector and a falling level of consumer's
terutama sektor properti yang lesu dan kepercayaan konsumen yang menurun.        trust.


Kondisi perekonomian dalam negeri juga menghadapi tantangan, seperti             The domestic economy last year also faced several challenges, people's
pelemahan daya beli masyarakat seiring merebaknya gelombang pemutusan            purchasing power has fallen amidst a wave of lay-offs. As a result, the income
hubungan kerja (PHK). Akibatnya, tingkat pendapatan sebagian masyarakat          level of some segments of the population has declined, which led to a general
berkurang sehingga terjadi pengurangan konsumsi secara umum yang                 reduction in consumption and was reflected in the 0.03% deflation starting in
tergambar dari terjadinya deflasi sebesar 0,03 persen mulai Mei 2024.             May 2024.


Saat kondisi ekonomi yang penuh tantangan, konsumsi baja nasional                According to the Indonesian Iron and Steel Industry Association (IISIA),
Indonesia masih menunjukkan pertumbuhan 5,2% pada tahun 2024 yang                Indonesia's steel consumption showed a 5.2% growth in 2024 to reach 18.3
mencapai 18,3 juta ton dibandingkan dari tahun sebelumnya, menurut IISIA.        million tons compared to the previous year's figure amidst the challenging
Hal ini disebabkan masih adanya permintaan kebutuhan di sektor properti,         economic condition. This was due partly to the continued demand for steel
pembangunan infrastruktur pemerintah, dan pengembangan otomotif dalam            from the property sector, government infrastructure development, and
negeri.                                                                          domestic automotive development.




Kebijakan Strategis | Strategic Policy
Perseroan terus beradaptasi terhadap dinamika pasar, dimana saat ini             The Company continues to adapt to market dynamics, particularly in response
permintaan konsumen yang semakin peduli akan kualitas produk dan                 to growing consumer demand for higher product quality and the Company's
komitmen Perseroan untuk keberlanjutan dalam lingkungan dan masyarakat.          commitment to environmental and social sustainability. SPINDO's Marketing
Divisi Marketing SPINDO telah memperluas pasar baru yang belum terlayani         Division has expanded into untapped markets and created new value within
dan menciptakan nilai baru untuk industri pipa baja. Saat ini Perseroan telah    the steel pipe industry. Currently, the Company serves various sectors
melayani bidang energi, infrastruktur dan konstruksi, otomotif, dan furnitur.    including energy, infrastructure and construction, automotive, and furniture.


Untuk mendukung Langkah tersebut, Perseroan telah membangun fasilitas            To support this initiative, the Company has built Unit 7 production facility in
produksi Unit 7 di desa Wadeng, Sidayu, Gresik seluas 100 ha dengan fasilitas    Wadeng village, Sidayu, Gresik (East Java) that covers an area of 100 ha and
produksi pipa baja berteknologi terkini yang lebih efisien. Tahun 2024,           operates steel pipe production facilities equipped with the latest, more
Perseroan telah mengawali dengan Pembangunan infrastruktur dan gudang            efficient technology. Aligned with the move, in 2024 the Company has started
sementara.                                                                       the construction of production infrastructure and temporary warehouses.


Perseroan juga telah mengembangkan produk pipa stainless steel diameter 8        The product development has been initiated with the production of 8-inch
(delapan) inci dan produksi pipe ERW hingga 16 (enam belas) inci yang            diameter stainless-steel pipe and up to 16-inch diameter ERW pipe. These large



24                       Ikhtisar Utama                      Laporan Manajemen                  Profil Perusahaan                Analisa & Pembahasan Manajemen
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  digunakan oleh sektor konstruksi dan sektor minyak bumi dan gas. Kami juga           diameter steel pipe products are used by the construction sector and the oil
  berusaha mempercepat proses untuk mencapai industri 4.0, sehingga bisnis             and gas industry. We are accelerating the process to achieve Industry 4.0, so
  kami akan efisien dan unggul dalam kompetisi industri pipa baja.                      that our business will bring an increased efficiency and excel in the steel pipe
                                                                                       industry competition.


  Kebijakan strategis yang sudah ditempuh pada tahun sebelumnya, seperti               Strategic initiatives established in previous years, such as Customer Gathering
  Customer Gathering untuk mempererat hubungan dengan end-user terus                   events to strengthen relationships with end-users, continue to be
  dijalankan dan disempurnakan dalam pelaksanaanya. Komunikasi dengan                  implemented and refined. The Marketing Division has also engaged more
  berbagai asosiasi bengkel dilakukan oleh divisi Marketing lebih aktif sepanjang      actively in communication with various workshop associations throughout
  tahun 2024.                                                                          2024 to further expand market reach and customer engagement.


  Kinerja Tahun 2024 | 2024 Performance
  Sepanjang tahun 2024, Penjualan dan Pendapatan Jasa Perseroan menurun                In 2024, the Company's sales and service revenue decreased by 5.2% to IDR
  5,2% menjadi Rp 6,12 triliun dari tahun sebelumnya 6,45 triliun. Nilai ini tidak     6.12 trillion from the previous year's amount of IDR 6.45 trillion. The figure did
  mencapai target penjualan bersih yang ditetapkan oleh Perseroan yang                 not reach the net sales target set by the Company ranging from IDR 7 to 7.5
  berkisar Rp 7 – 7,5 triliun, hal ini disebabkan dengan fluktuasi harga baja global.   trillion, which was due in part to fluctuations in global steel prices.


  Saat penurunan penjualan dan pendapatan jasa, Perseroan mampu                        Despite the decline in sales and service revenue, the Company managed to
  menorehkan peningkatan laba bersih di tahun 2024 sebesar Rp 530 milyar,              record a net profit increase in 2024 amounting to IDR 530 billion, an increase
  meningkat 6,4% dari tahun sebelumnya Rp 498 miliar. Peningkatan ini                  of 6.4% from the previous year's figure of IDR 498 billion. This increase marks
  merupakan pemecahan rekor laba bersih selama 2 tahun berturut-turut untuk            a record-breaking net profit for two consecutive years, achieving the highest
  highest net profit sejak 2023. Perseroan telah menunjukkan kemampuannya               net profit since 2023. The Company has demonstrated its ability to
  untuk terus memperluas pangsa pasar, meningkatkan efisiensi operasional, dan          consistently expand market share, enhance operational efficiency, and provide
  menyediakan produk yang memenuhi kebutuhan pelanggan yang terus                      products that meet the ever-evolving needs of its customers. It signifies our
  berkembang. Ini menandakan kemampuan kami untuk mengatasi tantangan,                 ability to overcome challenges, such as rising material costs and supply chain
  seperti kenaikan biaya material dan gangguan rantai pasokan, sambil tetap            disruptions, while remaining committed to the long-term goals of ensuring
  berkomitmen pada tujuan jangka panjang kami yaitu keberlanjutan dan inovasi.         sustainability and fostering innovation.


  Pipa baja SPINDO masih berorientasi pada pasar domestik, sedangkan                   SPINDO steel pipes were largely oriented towards the domestic market with
  sisanya untuk ekspor, dimana penjualan ke proyek masih menjadi tumpuan               the remaining portion entered the export market, and sales to projects
  utama. Sepanjang tahun 2024, proyek pemerintah dan Badan Usaha Milik                 remained the main focus. Over the year 2024, government and state-owned
  Negara (BUMN) masih tetap berjalan, seperti Pertamina, Pupuk Kaltim dan              enterprises (BUMN) projects such as those of Pertamina, Pupuk Kaltim, etc.
  lain sebagainya. Hampir 70% penjualan pipa baja SPINDO ke proyek, sisanya            had continued. Almost 70% of SPINDO steel pipe sales catered for the
  ke distributor, agen dan retail.                                                     projects, and the rest served the needs of distributors, agents and retailers.


  Tahun 2024, Perseroan menerbitkan Sustainability-Linked Bond (SLB) senilai           In 2024, the Company issued a Sustainability-Linked Bond (SLB) valued at 1
  1 triliun rupiah yang menjadikannya sebagai SLB pertama dalam mata uang              trillion rupiah, making it the first SLB denominated in rupiah to be issued in
  rupiah yang diterbitkan di Indonesia. Penerbitan ini merupakan salah satu            Indonesia. This issuance is part of our efforts to mitigate risks associated with
  upaya mitigasi resiko terhadap fluktuasi ekonomi yang semakin menantang ke            increasingly challenging economic fluctuations in the future. Furthermore, this
  depannya. Selain itu, penerbitan ini telah meraih penghargaan "Best                  issuance has earned the "Best Sustainability-Linked Bond" award at the 18th
  Sustainability-Linked Bond"dalam ajang 18th Annual Borrower Issuer Awards            Annual Borrower Issuer Awards 2024 by Alpha Southeast Asia, as well as
  2024 oleh Alpha Southeast Asia dan The Asset Triple A Awards-                        recognition in the Sustainable Finance category at The Asset Triple A Awards-
  ASEAN/DEAL Awards untuk kategori Sustainable Finance 2025.                           ASEAN/DEAL Awards 2025.


  Keberhasilan ini juga menandai pencapaian penting dalam pasar modal                  Such achievement also marks an important milestone in the Indonesian capital
  Indonesia karena SLB yang diterbitkan oleh SPINDO menjadi yang pertama               market as the SLB issued by SPINDO was the first to receive a guarantee from
  mendapatkan jaminan dari Credit Guarantee & Investment Facility (CGIF).              the Credit Guarantee & Investment Facility (CGIF). The bond issuance was



            Tata Kelola Perusahaan            Tanggung Jawab Sosial Perusahaan                Referensi                            Laporan Keuangan                     25
            Corporate Governance                Corporate Social Responsibility              References                           Financial Statements                   2
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                                                                                                                                2024 Annual Report




Proses penerbitan obligasi ini difasilitasi oleh beberapa penjamin emisi         facilitated by several leading underwriters, including IndoPremier Sekuritas,
terkemuka, di antaranya IndoPremier Sekuritas, BCA Sekuritas, Korea              BCA Sekuritas, Korea Investment and Securities Indonesia, and PT Sucor
Investment and Securities Indonesia, serta PT Sucor Sekuritas. Hal ini semakin   Sekuritas. This further strengthens investor confidence in the innovation and
memperkuat kepercayaan investor terhadap inovasi dan prospek pembiayaan          prospects of sustainable financing in Indonesia.
berkelanjutan di Indonesia.


Prestasi ini mencerminkan pencapaian strategis SPINDO antara lain : 1.           Winning the awards reflects a number of SPINDO's strategic achievements
Komitmen terhadap keberlanjutan melalui penerbitan SLB pertama dalam             including: 1. Commitment to sustainability through the issuance of the first
mata uang rupiah; 2. Inovasi dalam pasar modal Indonesia dengan                  SLB in rupiah (IDR); 2. Innovation in Indonesia's capital market by providing a
menghadirkan instrumen pembiayaan yang terjamin dan berorientasi pada            secured and environmentally-oriented financing instrument; 3. Support for
lingkungan; 3. Dukungan terhadap pembiayaan berkelanjutan, yang                  sustainable financing, which aims to strengthen green economic growth amid
bertujuan untuk memperkuat pertumbuhan ekonomi hijau di tengah                   global challenges. With these achievements, SPINDO has further
tantangan global. Dengan berbagai pencapaian ini, SPINDO semakin                 demonstrated its role as a sustainable industry leader.
menunjukkan perannya sebagai pemimpin industri yang berkelanjutan.


Dengan terlaksananya penerbitan obligasi terkait keberlanjutan, kami mampu       Moreover, with the issuance of sustainability-linked bonds, we managed to
meningkatkan proses manufaktur, mendanai inisiatif ramah lingkungan,             improve our manufacturing processes, fund green initiatives, invest in cleaner
berinvestasi dalam teknologi yang lebih bersih, dan memperluas kapasitas         technologies, and expand our capacity to meet the growing demand for
kami untuk memenuhi permintaan yang terus meningkat akan produk yang             environmentally responsible products. Not only has the investment
bertanggung jawab terhadap lingkungan. Investasi ini tidak hanya                 strengthened our sustainability credentials, but it has also prepared us to
meningkatkan kredibilitas keberlanjutan kami, tetapi juga memposisikan kami      capitalize on the market's growing preference for green solutions.
untuk memanfaatkan preferensi pasar yang semakin meningkat terhadap
solusi ramah lingkungan.



Penerapan Strategi Berkelanjutan | Implementation of Sustainability Strategy
Strategi keberlanjutan kami diimplementasikan melalui tiga pilar strategis:      Our sustainability strategy is implemented through three strategic pillars:
Tanggung Jawab Lingkungan, Inovasi Teknologi, dan Perluasan Pasar dengan         Environmental Responsibility, Technological Innovation, and Market
Keberlanjutan sebagai Inti. Tanggung Jawab Lingkungan mencerminkan               Expansion with Sustainability at the Core. Environmental Responsibility
komitmen kami untuk mengurangi dampak lingkungan melalui efisiensi                reflects our commitment to minimizing environmental impact through energy
energi, pengelolaan sumber daya yang bertanggung jawab, dan penurunan            efficiency, responsible resource management, and carbon emission reduction.
emisi karbon. Inovasi Teknologi mendorong kami untuk mengembangkan               Technological Innovation drives us to develop sustainable solutions and
solusi berkelanjutan dan meningkatkan efisiensi operasional. Perluasan Pasar      improve operational efficiency. Market Expansion with Sustainability
dengan Keberlanjutan untuk mengejar pertumbuhan bisnis sambil                    integrates sustainability principles into our business growth strategy, creating
mengintegrasikan prinsip-prinsip keberlanjutan, menciptakan nilai jangka         long-term value for customers, stakeholders, and society.
panjang bagi pelanggan, pemangku kepentingan, dan masyarakat.
                                                                                 As part of our commitment to reducing environmental impact through energy
Sebagai komitmen kami untuk mengurangi dampak lingkungan melalui                 efficiency, the Company has carried out periodic maintenance and upgrades of
efisiensi energi, Perseroan telah mengupayakan pengelolaan secara periodik        operational equipment, focusing on machinery improvements to enhance gas
terhadap peralatan operasional dengan pembenahan / pembaharuan mesin             and fuel efficiency. In addition to electricity sourced from the national utility
terkait dengan efisiensi gas dan BBM. Sumber energi listrik telah diupayakan      company (PLN), we have also adopted alternative energy sources through
dengan alternatif sumber energi dari solar cell, selain dari PLN sebagai         solar cell installations. Furthermore, the Company has implemented a water
pemasok utama. Perseroan juga telah memiliki water treatment untuk daur          treatment system to recycle water for operational use. The company has also
ulang air. Perseroan juga telah menetapkan target mengurangi tingkat             been working toward a target of reducing the carbon emission intensity of its
intensitas emisi karbon operasi sebesar 30% pada tahun 2030.                     operations by 30% in 2030.


Seluruh proses produksi telah dijalankan secara berkelanjutan sebagai            All our production processes are carried out sustainably, in line with our
tanggung jawab terhadap lingkungan telah mendapatkan sertifikasi dari             environmental responsibility commitments, and have been certified by relevant
instansi pemerintah. Empat unit produksi kami yaitu Unit 1, 3, 5, dan 6 telah    government authorities. Four of our production units — Units 1, 3, 5, and 6



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  memperoleh PROPER Biru dari Kementerian Lingkungan Hidup dan                      have been awarded the Blue PROPER rating from the Ministry of Environment
  Kehutanan Republik Indonesia. Dua unit produksi kami yaitu : Unit 3 dan 4         and Forestry of the Republic of Indonesia. Additionally, Units 3 and 4 have
  telah mendapatkan Sertifikasi Penerapan Sistem Manajemen Lingkungan                obtained Environmental Management System Certification from SAI
  yang diberikan oleh SAI GLOBAL. Lebih lanjut, di tahun 2024 ini, Unit produksi    GLOBAL. In 2024, Unit 3 further received the Green Industry Certification
  3 telah memperoleh Sertifikasi Industri Hijau yang diterbitkan oleh Lembaga        issued by the Green Industry Certification Agency of the Industrial
  Sertifikasi Industri Hijau Balai Standarisasi & Pelayanan Jasa Industri            Standardization and Services Center, Surabaya, under the Ministry of Industry.
  Surabaya, Kementrian Perindustrian.
                                                                                    We are also committed to fostering a positive and productive work
  Kami berkomitmen untuk membina lingkungan kerja yang positif dan produktif        environment through active employee engagement programs, such as the
  melalui program keterlibatan karyawan secara aktif, yaitu SPINDO Cup              SPINDO Cup — an employee sports competition — and the SPINDO Annual
  (kompetisi olah raga antar karyawan) dan SPINDO Annual Meeting (kegiatan          Meeting — an event designed to strengthen camaraderie and collaboration
  untuk mempererat kebersamaan dan memperkuat kolaborasi antar karyawan).           among employees.


  Pelatihan Karyawan telah menjadi prioritas utama Perseroan untuk                  Employee training and development remain a top priority for the Company to
  meningkatkan kompetensi karyawan sesuai dengan fungsi dan bidang                  enhance employee competencies in their respective roles and functions. This
  kerjanya. Komitmen ini tercermin dalam biaya dan jumlah jam yang                  commitment is reflected in the increasing investment and hours allocated
  dialokasikan untuk berbagai pelatihan, baik soft skills maupun hard skills yang   annually for various training programs covering both soft skills and technical
  terus meningkat setiap tahunnya. Pelatihan Personel Pemadam Kebakaran             skills. Certified Firefighter Training is also an integral part of strengthening our
  dengan sertifikasi ahli juga menjadi bagian integral dalam dalam                   Occupational Health and Safety (OHS) performance.
  meningkatkan kinerja Keselamatan dan Kesehatan Kerja (K3).


  Kami juga terus mendorong pengembangan sosial dan komunitas yang                  In addition, we actively contribute to social and community development by
  mendukung program kejuruan industri dengan menyediakan sarana khusus              supporting industrial vocational programs through the establishment of a
  berupa tempat Pusat Pelatihan. Tempat ini memberikan kesempatan untuk             dedicated Training Center. This facility provides internship and industrial work
  magang dan praktik kerja industri bagi pelajar dan masyarakat prakerja.           practice opportunities for students and pre-employment participants.


  Sebagai komitmen untuk berkontribusi kepada masyarakat dan lingkungan,            As part of our commitment to contribute to society and the environment, the
  Perseroan meluncurkan program CSR bertajuk "SPINDO Untuk Air Bersih"              Company launched a CSR program titled "SPINDO for Clean Water", aimed at
  untuk mendukung pembangunan jaringan distribusi air bersih dari                   supporting the development of a clean water distribution network from a bore
  penampungan sumur bor ke pemukiman warga di Desa Petungsinaran yang               well reservoir to residential areas located 630 meters away in Petungsinaran
  berjarak 630 meter di Desa Petungsinaran, Kecamatan Bandar, Kabupaten             Village, Bandar District, Pacitan Regency. This initiative has significantly
  Pacitan. Pembangunan sangat membantu warga dalam memenuhi                         helped the local community in meeting their clean water needs. Access to
  kebutuhan air bersih. Akses terhadap sumber air bersih yang memadai sangat        adequate clean water sources is essential in improving the quality of life and
  penting untuk meningkatkan kualitas hidup dan Kesehatan masyarakat.               public health within the community.


  Prospek Tahun 2024 | 2024 Outlook
  Tahun 2025, prospek ekonomi Indonesia tetap optimis, dengan proyeksi              The economic outlook remains optimistic in Indonesia for 2025, with a
  tingkat pertumbuhan PDB sekitar 5,3%, didorong oleh konsumsi domestik             projected GDP growth rate of around 5.3% driven by strong domestic
  yang kuat, proyek infrastruktur, dan ekonomi digital yang sedang berkembang       consumption, infrastructure projects, and a booming digital economy. The
  pesat. Investasi berkelanjutan pemerintah dalam infrastruktur skala besar,        government's continued investment in large-scale infrastructure, such as
  seperti pengembangan Proyek Strategis Nasional (PSN), akan mendorong              National Strategic Projects (PSN), will create demand across various sectors,
  permintaan di berbagai sektor, termasuk baja, konstruksi, dan manufaktur.         including steel, construction, and manufacturing.


  Tantangan utama di sektor manufaktur baja adalah hambatan perdagangan             Key challenges in the steel manufacturing sector are trade barriers and
  dan ketergantungan pada bahan baku impor. Selain itu, pasar global semakin        dependence on raw material import. In addition, the global market is markedly
  beralih ke alternatif rendah menuju ekonomi yang lebih ramah lingkungan dan       shifting to low-cost alternatives towards a more environmentally-friendly and
  efisien. Persaingan industri baja nasional semakin kompetitif dengan               efficient economy. The domestic steel industry has become increasingly
  beroperasinya pabrik-pabrik baja Tiongkok di Indonesia. Namun saat ini industri   competitive as Chinese steel mills have begun their operations in Indonesia.
  mereka masih dalam tahap awal dan belum menerapkan standar yang baku.             However, the industry is still in its infancy & has yet to implement common
                                                                                    standards.

           Tata Kelola Perusahaan           Tanggung Jawab Sosial Perusahaan               Referensi                          Laporan Keuangan                   27
           Corporate Governance               Corporate Social Responsibility             References                         Financial Statements                 2
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                                                                                                                                 2024 Annual Report




Perseroan telah merancang dan mempersiapkan pengembangan teknologi                 SPINDO has carefully designed and prepared sustainable technology
yang berkelanjutan dalam menghadapi kompetisi industri baja nasional di            development to rise to the national steel industry competition in 2025. The
tahun 2025. Teknologi ramah lingkungan yang lebih efisien diwujudkan                Company's more efficient and eco-friendly technology is made manifest in the
dengan pembukaan lahan produksi di Gresik dan pembelian mesin-mesin                opening of Gresik production site as well as the purchase of new machines
baru berteknologi terkini.                                                         equipped with the latest technology.


Penerapan Tata Kelola Perusahaan yang Baik | Implementation of Good Corporate Governance
Perseroan menjalankan Tata Kelola Perusahaan yang baik / Good Corporate            The Company implements Good Corporate Governance (GCG) in compliance
Governance (GCG) berdasarkan prinsip-prinsip transparansi, akuntabilitas,          with the principles of transparency, accountability, responsibility,
responsibilitas, independensi dan kejawaran. Setiap tahun, Perseroan               independence, and fairness. Every year, the Company seeks to improve the
senantiasa memperbaiki penerapan GCG dengan melakukan koordinasi                   implementation of GCG by coordinating all stakeholders, such as Board of
seluruh pemangku kepentingan, seperti Direksi, Dewan Komisaris, Komite             Directors, Board of Commissioners, Audit Committee and supporting units.
Audit dan unit-unit pendukungnya.


Komunikasi Direksi dilakukan dengan rapat Direksi yang telah dilakukan             Communication between members of Board of Directors is conducted
sebanyak 12 (dua belas) kali di tahun 2024. Direksi juga melakukan rapat           through Board of Directors' meetings, which were held 12 times in 2024. The
gabungan antara Direksi dan Dewan Komisaris sebanyak 6 (enam) kali di              Board of Directors had conducted joint meetings between the Board of
tahun 2024.                                                                        Directors and the Board of Commissioners six times in 2024.


Penutup | Closing Remarks
Dengan hormat, kami ingin mengumumkan pergantian dewan komisaris dan               We would like to officially announce changes in the composition of the Board
direksi di tahun 2024. Pergantian untuk anggota Dewan Komisaris adalah             of Commissioners and Board of Directors in 2024. Mr. Entario Widjaja Susanto
Bapak Entario Widjaja Susanto menggantikan Ibu Endang Fifi Susanto.                 replaced Ms. Endang Fifi Susanto as a member of the Board of Commissioners,
Sedangkan pergantian untuk anggota Direksi adalah Bapak Nico Gunawan               and Mr. Nico Gunawan replaced Mr. Tikman Utomo as a member of the Board
menggantikan Bapak Tikman Utomo. Susunan anggota Dewan Komisaris                   of Directors. The Company's Board of Commissioners is made up of four
adalah 4 (empat) orang dan susunan anggota Direksi adalah 5 (lima) orang.          members and the Board of Directors consists of five members.


Kami mengucapkan terima kasih yang sebesar-besarnya kepada para                    We should like to express our sincere gratitude to members of the Board of
anggota direksi dan dewan komisaris yang telah memberikan dedikasi dan             Directors and the Board of Commissioners who have made outstanding
kontribusi luar biasa selama masa tugas mereka. Kami juga menyambut                dedication and contributions during their tenure. We also welcome with great
dengan penuh harapan dan semangat para anggota baru yang bergabung                 hope and enthusiasm the new members joining our leadership structure. With
dalam struktur kepemimpinan kami. Dengan pengalaman dan komitmen                   their experience and commitment, we are confident that the company will
mereka, kami yakin perusahaan ini akan terus berkembang dan meraih                 continue to grow and thrive in the future.
kesuksesan di masa yang akan datang.


Akhir kata, saya mewakili direksi mengucapkan terima kasih kepada Dewan            Finally, on behalf of the Board of Directors, I would like to thank the Board of
Komisaris, rekan-rekan Direksi, manajemen, seluruh karyawan, pemasok,              Commissioners, fellow directors, management, all employees, suppliers,
distributor, toko hingga end-user atas kepercayaan kepada produk dan jasa          distributors, stores and end-users for their trust in SPINDO steel pipe products
pipa baja SPINDO. Sekali lagi, terima kasih kepada semua pihak yang telah          and services. Once again, thank you to all parties who made their meaningful
berkontribusi dan kami berharap dapat terus bekerja sama untuk membawa             contributions, and we hope to continue working together and bring the
perusahaan ini ke level yang lebih tinggi lagi di masa mendatang.                  Company to a higher level from this point onwards.




                                                                    Jakarta, 18 April 2025

                                                                    Ibnu Susanto
                                                          Direktur Utama | President Director

28                       Ikhtisar Utama                     Laporan Manajemen                     Profil Perusahaan               Analisa & Pembahasan Manajemen
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Laporan Tahunan 2024


  Profil Direksi
  Board of Directors Profile



     Ibnu Susanto
     Direktur Utama | President Director
     Kewarganegaraan | Nationality                 Indonesia | Indonesian
     Usia | Age                                    83 tahun per 31 Desember 2024
                                                   83 years old as of 31 December 2024
     Domisili | Domicile                           Jakarta




                                  Dasar Hukum Pengangkatan                    Diangkat kembali sebagai Direktur Utama berdasarkan Akta Pernyataan Keputusan
                                  Legal Basis of Appointment                  Rapat Perseroan Terbatas No. 41 tanggal 28 Juni 2024.
                                                                              Reappointed as a President Director based on Deed of Resolutions of the Company
                                                                              Meeting No. 41 dated 28 June 2024.


                                  Riwayat Pekerjaan                           Ÿ   Direktur Utama, PT Steel Pipe Industry of Indonesia Tbk (1980-sekarang);
                                  Work Experience                             Ÿ   Komisaris, PT Mitra Graha Andalan (2013-2017);
                                                                              Ÿ   Komisaris, PT Buana Maju Selaras (2013-2017);
                                                                              Ÿ   Komisaris Utama, PT Ready Indah (2004-2011);
                                                                              Ÿ   Direktur Utama, PT Sarana Central Bajatama Tbk (1993-2011);
                                                                              Ÿ   Direktur Utama, PT Indometal Centraltama Industri (1989-2012);
                                                                              Ÿ   Direktur Utama, PT Radjin Steel Pipe Industry (1972-1997);
                                                                              Ÿ   Direktur Utama, PT Nugraha Purnama (1970-2020);
                                                                              Ÿ   Direktur, PT Cahaya Onderdil Sepeda (1969-1971);
                                                                              Ÿ   Manajer Produksi, PT Djawa Mulia (1964-1968).
                                                                              Ÿ   President Director, PT Steel Pipe Industry of Indonesia Tbk (1980-current);
                                                                              Ÿ   Commissioner, PT Mitra Graha Andalan (2013-2017);
                                                                              Ÿ   Commissioner, PT Buana Maju Selaras (2013-2017);
                                                                              Ÿ   President Commissioner, PT Ready Indah (2004-2011);
                                                                              Ÿ   President Director, PT Sarana Central Bajatama Tbk (1993-2011);
                                                                              Ÿ   President Director, PT Indometal Centraltama Industri (1989-2012);
                                                                              Ÿ   President Director, PT Radjin Steel Pipe Industry (1972-1997);
                                                                              Ÿ   President Director, PT Nugraha Purnama (1970-2020);
                                                                              Ÿ   Director, PT Cahaya Onderdil Sepeda (1969-1971);
                                                                              Ÿ   Production Manager, PT Djawa Mulia (1964-1968).


                                  Rangkap Jabatan                             Ÿ   Komisaris Utama, PT Nugraha Purnama Jakarta (2020-sekarang);
                                  Concurrent Positions                        Ÿ   Direktur Utama, Panca Cemerlang Abadi (2019-sekarang);
                                                                              Ÿ   Direktur Utama, PT Fuji Technologi Indonesia (2014-sekarang);
                                                                              Ÿ   Komisaris, PT Saranacentral Bajatama Tbk (2011-sekarang);
                                                                              Ÿ   Direktur Utama, PT Ready Indah (2014-sekarang);
                                                                              Ÿ   Direktur Utama, PT Djawa Indah (2008-sekarang);
                                                                              Ÿ   Direktur Utama, PT Pah Tsung School (2007-sekarang);
                                                                              Ÿ   Komisaris Utama, PT Menara Prambanan (2006-sekarang);
                                                                              Ÿ   Direktur Utama, PT Sarana Steel Engineering (2003-sekarang);
                                                                              Ÿ   Komisaris Utama, PT Cakra Bhakti Para Putra (2003-sekarang);




         Tata Kelola Perusahaan           Tanggung Jawab Sosial Perusahaan                      Referensi                         Laporan Keuangan              29
         Corporate Governance               Corporate Social Responsibility                    References                        Financial Statements            2
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                                                                                                                     2024 Annual Report




                                       Ÿ   Komisaris Utama, PT Kasih Jatim (1994-sekarang);
                                       Ÿ   Direktur, PT Nar Stainless Steel Center (1993-sekarang);
                                       Ÿ   Direktur Utama, PT Sarana Steel (1973-sekarang);
                                       Ÿ   Direktur Utama, PT Sarana Surya Sakti (1972-sekarang).
                                       Ÿ   President Commissioner, PT Nugraha Purnama Jakarta (2020-current);
                                       Ÿ   President Director, Panca Cemerlang Abadi (2019-current);
                                       Ÿ   President Director, PT Fuji Technologi Indonesia (2014-current);
                                       Ÿ   Commissioner, PT Saranacentral Bajatama Tbk (2011-current);
                                       Ÿ   President Director, PT Ready Indah (2014-current);
                                       Ÿ   President Director, PT Djawa Indah (2008-current);
                                       Ÿ   President Director, PT Pah Tsung School (2007-current);
                                       Ÿ   President Commissioner, PT Menara Prambanan (2006-current);
                                       Ÿ   President Director, PT Sarana Steel Engineering (2003-current);
                                       Ÿ   President Commissioner, PT Cakra Bhakti Para Putra (2003-current);
                                       Ÿ   President Commissioner, PT Kasih Jatim (1994-current);
                                       Ÿ   Director, PT Nar Stainless Steel Center (1993-current);
                                       Ÿ   President Director, PT Sarana Steel (1973-current);
                                       Ÿ   President Director, PT Sarana Surya Sakti (1972-current).


Riwayat Pendidikan                     Sekolah Menengah Atas, Pah Tsung School, Jakarta, Indonesia (1961)
Educational Background                 High School education, Pah Tsung School, Jakarta, Indonesia (1961)


Hubungan Afiliasi                       Memiliki hubungan afiliasi dengan anggota Dewan Komisaris lainnya dan anggota
Affiliate Relations                     Direksi, dan juga beliau memiliki hubungan afiliasi dengan Pemegang Saham Utama
                                       atau Pengendali.
                                       He has affiliations with others members of the Board of Commissioners and
                                       members of the Board of Directors, and also he has relationship with the main and
                                       controlling shareholder.


Jumlah Kepemilikan Saham ISSP          -
Total ISSP Share Ownership




30                    Ikhtisar Utama                Laporan Manajemen                    Profil Perusahaan            Analisa & Pembahasan Manajemen
 2                      Highlights                  Management Report                    Company Profile              Management Discussion & Analysis
Page 39
Laporan Tahunan 2024




     Tedja Sukmana Hudianto
     Wakil Direktur Utama | Vice President Director
     Kewarganegaraan | Nationality                       Indonesia | Indonesian
     Usia | Age                                          61 tahun per 31 Desember 2024
                                                         61 years old as of 31 December 2024
     Domisili | Domicile                                 Surabaya




                                  Dasar Hukum Pengangkatan                   Diangkat kembali sebagai Wakil Direktur Utama berdasarkan Akta Pernyataan Keputusan
                                  Legal Basis of Appointment                 Rapat Perseroan Terbatas No. 41 tanggal 28 Juni 2024.
                                                                             Reappointed as a Vice President Director based on Deed of Resolutions of the Company
                                                                             Meeting No. 41 dated 28 June 2024.


                                  Riwayat Pekerjaan                          Ÿ     Wakil Direktur Utama, PT Steel Pipe Industry of Indonesia Tbk (2012-sekarang);
                                  Work Experience                            Ÿ     Direktur, PT Steel Pipe Industry of Indonesia Tbk (1998-2012)
                                                                             Ÿ     Direktur, PT Radjin (1993-1998)
                                                                             Ÿ     Account Officer, Bank of Tokyo Ltd, Surabaya Branch (1989-1991)
                                                                             Ÿ     Vice President Director, PT Steel Pipe Industry of Indonesia Tbk (2012-current);
                                                                             Ÿ     Director, PT Steel Pipe Industry of Indonesia Tbk (1998-2012);
                                                                             Ÿ     Director, PT Radjin (1993-1998);
                                                                             Ÿ     Account Officer, Bank of Tokyo Ltd, Surabaya Branch (1989-1991)


                                  Rangkap Jabatan                            Ÿ     Direktur, PT Cakra Bhakti Agro Industry (2023-sekarang);
                                  Concurrent Positions                       Ÿ     Direktur Utama, PT Cakra Bhakti Bumi Persada (2014-sekarang);
                                                                             Ÿ     Komisaris, PT Sanko Steel Indonesia (2013-sekarang);
                                                                             Ÿ     Direktur, PT Cakra Putra Lestari (2012-sekarang);
                                                                             Ÿ     Direktur Utama, PT Cakra Bhakti Para Putra (1997-sekarang);
                                                                             Ÿ     Direktur, PT NAR Stainless Steel Center (1991-sekarang);
                                                                             Ÿ     Direktur, PT Kasih Jatim (1989-sekarang).
                                                                             Ÿ     Director, PT Cakra Bhakti Agro Industry (2023-current);
                                                                             Ÿ     Direktur Utama, PT Cakra Bhakti Bumi Persada (2014-current);
                                                                             Ÿ     Commissioner, PT Sanko Steel Indonesia (2013-current);
                                                                             Ÿ     Director, PT Cakra Putra Lestari (2012-current);
                                                                             Ÿ     President Director, PT Cakra Bhakti Para Putra (1997-current);
                                                                             Ÿ     Director, PT NAR Stainless Steel Center (1991-current);
                                                                             Ÿ     Director, PT Kasih Jatim (1989-current).


                                  Riwayat Pendidikan                         Sarjana bidang Komunikasi Elektronik, Waseda University, Jepang (1989)
                                  Educational Background                     Bachelor in Electronic Communication, Waseda University, Japan (1989)


                                  Hubungan Afiliasi                           Memiliki hubungan afiliasi dengan anggota Dewan Komisaris lainnya dan anggota Direksi,
                                  Affiliate Relations                         dan juga beliau memiliki hubungan afiliasi dengan Pemegang Saham Utama atau
                                                                             Pengendali.
                                                                             He has affiliations with others members of the Board of Commissioners and members of
                                                                             the Board of Directors, and also he has relationship with the main and controlling
                                                                             shareholder.


                                  Jumlah Kepemilikan Saham ISSP              -
                                  Total ISSP Share Ownership




         Tata Kelola Perusahaan                Tanggung Jawab Sosial Perusahaan                     Referensi                          Laporan Keuangan               31
         Corporate Governance                    Corporate Social Responsibility                   References                         Financial Statements             2
Page 40
                                                                                                                                   2024 Annual Report




                                                                      Soediarto Soerjoprahono
                                                                      Direktur | Director
                                                                      Kewarganegaraan | Nationality                   Indonesia | Indonesian
                                                                      Usia | Age                                      79 tahun per 31 Desember 2024
                                                                                                                      79 years old as of 31 December 2024
                                                                      Domisili | Domicile                             Jakarta




Dasar Hukum Pengangkatan                Diangkat kembali sebagai Direktur berdasarkan Akta Pernyataan Keputusan Rapat
Legal Basis of Appointment              Perseroan Terbatas No. 41 tanggal 28 Juni 2024.
                                        Reappointed as a Director based on Deed of Resolutions of the Company Meeting No. 41
                                        dated 28 June 2024.


Riwayat Pekerjaan                       Ÿ   Direktur, PT Steel Pipe Industry of Indonesia Tbk (1980-sekarang);
Work Experience                         Ÿ   Direktur, PT Indometal Centraltama Industry (1989-2012);
                                        Ÿ   Direktur, PT Radjin Steel Pipe Industry (1972-1996);
                                        Ÿ   Direktur, CV Nugraha & Co (1971-1973);
                                        Ÿ   Import Manager, CV Pelita Trading Co (1968-1970);
                                        Ÿ   Director, PT Steel Pipe Industry of Indonesia Tbk (1980-current);
                                        Ÿ   Director, PT Indometal Centraltama Industry (1989-2012);
                                        Ÿ   Director, PT Radjin Steel Pipe Industry (1972-1996);
                                        Ÿ   Director, CV Nugraha & Co (1971-1973);
                                        Ÿ   Import Manager, CV Pelita Trading Co (1968-1970);


Rangkap Jabatan                         Ÿ   Komisaris Utama, PT Sarana Central Bajatama Tbk (1993-sekarang);
Concurrent Positions                    Ÿ   Direktur, PT Sarana Steel (1973-sekarang);
                                        Ÿ   Direktur, PT Sarana Surya Sakti (1972-sekarang);
                                        Ÿ   Direktur, PT Purnama Nugraha (1970-sekarang).
                                        Ÿ   President Commissioner, PT Sarana Central Bajatama Tbk (1993-current);
                                        Ÿ   Director, PT Sarana Steel (1973-current);
                                        Ÿ   Director, PT Sarana Surya Sakti (1972-current);
                                        Ÿ   Director, PT Purnama Nugraha (1970-current).


Riwayat Pendidikan                      Sekolah Menengah Atas, Surabaya, Indonesia (1964)
Educational Background                  High School education, Surabaya, Indonesia (1964)


Hubungan Afiliasi                        Memiliki hubungan afiliasi dengan anggota Dewan Komisaris lainnya dan anggota Direksi,
Affiliate Relations                      dan juga beliau memiliki hubungan afiliasi dengan Pemegang Saham Utama atau
                                        Pengendali.
                                        He has affiliations with others members of the Board of Commissioners and members of
                                        the Board of Directors, and also he has relationship with the main and controlling
                                        shareholder.


Jumlah Kepemilikan Saham ISSP           -
Total ISSP Share Ownership




32                     Ikhtisar Utama                       Laporan Manajemen                      Profil Perusahaan                Analisa & Pembahasan Manajemen
 2                       Highlights                         Management Report                      Company Profile                  Management Discussion & Analysis
Page 41
Laporan Tahunan 2024




      The, Hanny Purnomo
      Direktur | Director
      Kewarganegaraan | Nationality              Indonesia | Indonesian
      Usia | Age                                 58 tahun per 31 Desember 2024
                                                 58 years old as of 31 December 2024
      Domisili | Domicile                        Surabaya




      Dasar Hukum Pengangkatan             Diangkat kembali sebagai Direktur berdasarkan Akta Pernyataan Keputusan Rapat Perseroan Terbatas No. 41
      Legal Basis of Appointment           tanggal 28 Juni 2024.
                                           Reappointed as a Director based on Deed of Resolutions of the Company Meeting No. 41 dated 28 June 2024.


      Riwayat Pekerjaan                    Ÿ   Direktur, PT Steel Pipe Industry of Indonesia Tbk (2018-sekarang);
      Work Experience                      Ÿ   Deputy General Manager, PT Steel Pipe Industry of Indonesia Tbk (2016-2018);
                                           Ÿ   Senior Manager SAP, PT Steel Pipe Industry of Indonesia Tbk (2009-2016);
                                           Ÿ   Senior Manager MIS, PT Steel Pipe Industry of Indonesia Tbk (2001-2008);
                                           Ÿ   Manager MIS, PT Steel Pipe Industry of Indonesia Tbk (1999-2001);
                                           Ÿ   Manager MIS, PT Pelayaran Nusantara Meratus (1992-1999).
                                           Ÿ   Director, PT Steel Pipe Industry of Indonesia Tbk (2018-present);
                                           Ÿ   Deputy General Manager, PT Steel Pipe Industry of Indonesia Tbk (2016-2018);
                                           Ÿ   SAP Senior Manager, PT Steel Pipe Industry of Indonesia Tbk (2009-2016);
                                           Ÿ   MIS Senior Manager, PT Steel Pipe Industry of Indonesia Tbk (2001-2008);
                                           Ÿ   MIS Senior Manager, PT Steel Pipe Industry of Indonesia Tbk (1999-2001);
                                           Ÿ   MIS Senior Manager, PT Pelayaran Nusantara Meratus (1992-1999).


      Rangkap Jabatan                      -
      Concurrent Positions


      Riwayat Pendidikan                   Ÿ   Sarjana Teknik dan Manajemen Industri, Universitas 17 Agustus 1945, Surabaya, Indonesia (1990);
      Educational Background               Ÿ   Bachelor of Engineering and Industrial Management, 17 Agustus 1945 University, Surabaya, Indonesia
                                               (1990);


      Sertifikasi Profesi                   Ÿ   SAP-Production Planning & Manufacturing - Associate Level, SAP Global Certification (2009)
      Professional Certification            Ÿ   Certified Information Systems Auditor® (CISA), ISACA (2015)
                                           Ÿ   SAP-Production Planning & Manufacturing - Professional Level, SAP Global Certification (2016)
                                           Ÿ   Certified Business Analysis Professional™ (CBAP®), International Institute of Business Analysis™ (IIBA®)
                                               (2019)
                                           Ÿ   Project Management Professional (PMP)®, Project Management Institute (PMI) (2020)
                                           Ÿ   Certified Tester Foundation Level (CTFL), International Software Testing Qualifications Board (ISTQB®) (2020)
                                           Ÿ   TOGAF® 9 Foundation, The Open Group (2021)
                                           Ÿ   Professional Scrum Master™ I (PSM I), Scrum.org™ (2021)


      Hubungan Afiliasi                     Tidak memiliki afiliasi dengan sesama anggota Direksi, atau anggota Dewan Komisaris, atau dengan pemegang
      Affiliate Relations                   saham utama.
                                           Does not have any affiliations with fellow members of the Board of Directors, or members of the Board of
                                           Commissioners, nor with the ultimate shareholder.


      Jumlah Kepemilikan Saham ISSP        -
      Total ISSP Share Ownership




         Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan                Referensi                         Laporan Keuangan                 33
         Corporate Governance           Corporate Social Responsibility              References                        Financial Statements               2
Page 42
                                                                                                                                 2024 Annual Report




                                                          Nico Gunawan
                                                          Direktur | Director
                                                          Kewarganegaraan | Nationality                Indonesia | Indonesian
                                                          Usia | Age                                   42 tahun per 31 Desember 2024
                                                                                                       42 years old as of 31 December 2024
                                                          Domisili | Domicile                          Surabaya




Dasar Hukum Pengangkatan                Diangkat sebagai Direktur berdasarkan Akta Pernyataan Keputusan Rapat Perseroan Terbatas No. 41
Legal Basis                             tanggal 28 Juni 2024.
                                        Appointed as a Director based on Deed of Resolutions of the Company Meeting No. 41 dated 28 June 2024.


Riwayat Pekerjaan                       Ÿ   Direktur, PT Steel Pipe Industry of Indonesia Tbk (2024-sekarang);
Work Experience                         Ÿ   Wakil Direktur Operasional, PT Steel Pipe Industry of Indonesia Tbk (2023-2024)
                                        Ÿ   Pelaksana Tugas & Pejabat Sementara Direktur Operasional, PT Steel Pipe Industry of Indonesia Tbk
                                            (2021-2023)
                                        Ÿ   Kepala Divisi Unit 6, PT Steel Pipe Industry of Indonesia Tbk (2014-2023)
                                        Ÿ   Kepala Divisi Unit 1, PT Steel Pipe Industry of Indonesia Tbk (2010-sekarang)
                                        Ÿ   Kepala Divisi Produksi Unit 2, PT Steel Pipe Industry of Indonesia Tbk (2009-sekarang)
                                        Ÿ   Kepala Departemen Produksi Unit 2, PT Steel Pipe Industry of Indonesia Tbk (2008-2009)
                                        Ÿ   Staf Analyst PPIC Unit 2, PT Steel Pipe Industry of Indonesia Tbk (2004-2008)
                                        Ÿ   Kepala Seksi Produksi Unit 2, PT Steel Pipe Industry of Indonesia Tbk (2003-2004)
                                        Ÿ   Director, PT Steel Pipe Industry of Indonesia Tbk (2024-current)
                                        Ÿ   Deputy Director of Operations, PT Steel Pipe Industry of Indonesia Tbk (2023-2024)
                                        Ÿ   Acting & Temporary Director of Operations, PT Steel Pipe Industry of Indonesia Tbk(2021-2023)
                                        Ÿ   Head of Division Unit 6, PT Steel Pipe Industry of Indonesia Tbk (2014-2023)
                                        Ÿ   Head of Division Unit 1, PT Steel Pipe Industry of Indonesia Tbk (2010-present)
                                        Ÿ   Head of Production Division Unit 2, PT Steel Pipe Industry of Indonesia Tbk (2009-present)
                                        Ÿ   Head of Production Department Unit 2, PT Steel Pipe Industry of Indonesia Tbk (2008-2009)
                                        Ÿ   Staff Analyst PPIC Unit 2, PT Steel Pipe Industry of Indonesia Tbk (2004-2008)
                                        Ÿ   Head of Production Section Unit 2, PT Steel Pipe Industry of Indonesia Tbk (2003-2004)


Rangkap Jabatan                         -
Concurrent Positions


Riwayat Pendidikan                      Ÿ   Magister Manajemen Teknologi, Institut Teknologi Sepuluh November (2006)
Educational Background                  Ÿ   Sarjana Teknik Mesin, Universitas Kristen Petra Surabaya (2003)
                                        Ÿ   Master of Technology Management, Sepuluh November Institute of Technology (2006)
                                        Ÿ   Bachelor of Mechanical Engineering, Petra Christian University Surabaya (2003)


Hubungan Afiliasi                        Tidak memiliki hubungan afiliasi dengan anggota Dewan Komisaris lainnya dan anggota Direksi, namun
Affiliate Relations                      beliau memiliki hubungan afiliasi dengan Pemegang Saham Utama atau Pengendali.
                                        Does not have any affiliations with other members of the Board of Directors, or members of the Board of
                                        Commissioners, bu he has a relationship with the ultimate shareholder.


Jumlah Kepemilikan Saham ISSP           3800 lembar | shares
Total ISSP Share Ownership




34                     Ikhtisar Utama                      Laporan Manajemen                      Profil Perusahaan               Analisa & Pembahasan Manajemen
 2                       Highlights                        Management Report                      Company Profile                 Management Discussion & Analysis
Page 43
Laporan Tahunan 2024




       Tata Kelola Perusahaan   Tanggung Jawab Sosial Perusahaan     Referensi    Laporan Keuangan      35
       Corporate Governance       Corporate Social Responsibility   References   Financial Statements    3
Page 44
                                                                                                                  2024 Annual Report



Data Perusahaan
Corporate Data

Nama Perusahaan                                                           Company Name
PT Steel Pipe Industry of Indonesia Tbk [PT SPINDO Tbk]


Tanggal Pendirian                                                         Date of Establishment
30 Januari 1971


Kepemilikan                                                               Ownership
Perseroan Terbuka                                                         Public Company

Kegiatan Usaha & Produk yang Dihasilkan                                   Business Activities & Products
Kegiatan usaha perseroan adalah merancang dan memproduksi                 The Company's business activities are designing and producing
berbagai macam produk pipa baja berdasarkan kategori, yang                various steel pipe products related, made to fulfill orders and made
dibuat untuk memenuhi pesanan dan untuk persediaan, yang                  for supplies, which includes various types of pipes made of hot
meliputi produksi berbagai jenis pipa yang dibuat dari karbon hot         rolled, cold rolled, and stainless steel. The productions are mainly
rolled, cold rolled, dan stainless steel. Hasil produksi pipa Perseroan   applied for infrastructure, automotive, oil and gas, drinking water
digunakan untuk industri infrastruktur, otomotif, minyak dan gas,         pipes, and others.
pipa air minum, dan lain-lain.


Kode Saham                                                                Ticker Code
ISSP


Dasar Hukum Pendirian                                                     Legal Basis Establishment
Akta pendirian dan perubahannya:                                          Deed of establistment and amendement:
Ÿ Notaris Djojo Muljadi, S.H. No. 109, tanggal 30 Januari 1971.           Ÿ Notarial Deed No. 109, dated January 30, 1971 of Djojo Muljadi,
                                                                             S.H.
Ÿ    Notaris Zuraida Zain, S.H. No. 30, tanggal 18 Februari 1993,         Ÿ Notarial Deed No. 30, dated February 18, 1993 of Zuraida Zain,
     juncto Akta Perubahan No. 10, tanggal 4 Juni 1993, juncto Akta          S.H. , juncto amendments No. 10, dated June 4, 1993, juncto
     Perubahan No. 40, tanggal 21 Oktober 1993.                              amendments No. 40, dated October 21, 1993.
Ÿ    Notaris Siti Rachmayanti, S.H., CN. No. 97, tanggal 10               Ÿ Notarial Deed No. 97, dated December 10, 1997 of Siti
     Desember 1997.                                                          Rachmayanti, S.H., CN.
Ÿ    Notaris Sitaresmi Puspadewi Subianto, S.H. No. 11, tanggal 6         Ÿ Notarial Deed No. 11, dated 6 December 2007 of Sitaresmi
     Desember 2007, juncto No. 21, tanggal 5 September 2008.                 Puspadewi Subianto, S.H., juncto No. 21, dated 5 September
                                                                             2008.
Ÿ    Notaris Dr. Irawan Soerodjo, S.H., M.Si. No. 154, tanggal 12         Ÿ Notarial Deed No. 154, dated December 12, 2012 of Dr. Irawan
     Desember 2012.                                                          Soerodjo, S.H., M.Si.
Ÿ    Notaris Dr. Irawan Soerodjo, S.H., M.Si. No. 421, tanggal 30 Juni    Ÿ Notarial Deed No. 421, dated June 30, 2015 of Dr. Irawan
     2015.                                                                   Soerodjo, S.H., M.Si. .
Ÿ    Notaris Christina Dwi Utami, S.H., M.Hum., M.Kn. No.15, tanggal      Ÿ Notarial Deed No.15, dated June 15, 2017 of Christina Dwi
     15 Juni 2017.                                                           Utami, S.H., M.Hum., M.Kn.
Ÿ    Notaris Christina Dwi Utami, S.H., M.Hum., M.Kn. No.56, tanggal      Ÿ Notarial Deed No.56, dated October 16, 2018 of Christina Dwi
     16 Oktober 2018.                                                        Utami, S.H., M.Hum., M.Kn.
Ÿ    Notaris Christina Dwi Utami, S.H., M.Hum., M.Kn. No.149,             Ÿ Notarial Deed No.149, dated June 28, 2019 of Christina Dwi
     tanggal 28 Juni 2019.                                                   Utami, S.H., M.Hum., M.Kn.
Ÿ    Notaris Christina Dwi Utami, S.H., M.Hum., M.Kn. No. 92,             Ÿ Notarial Deed No. 92, dated September 10, 2020. of Christina
     tanggal 10 September 2020.                                              Dwi Utami, S.H., M.Hum., M.Kn.
Ÿ    Notaris Dr. Ir. Yohanes Wilion, S.E., S.H., MM. No. 69, tanggal 28   Ÿ Notarial Deed No. 69, dated July 28, 2021 of Dr. Ir. Yohanes
     Juli 2021.                                                              Wilion, S.E., S.H., MM.
Ÿ    Notaris Christina Dwi Utami, S.H., M.Hum., M.Kn. No. 302,            Ÿ Notarial Deed No. 302, dated June 30, 2022. of Christina Dwi
     tanggal 30 Juni 2022.                                                   Utami, S.H., M.Hum., M.Kn.




36                     Ikhtisar Utama                 Laporan Manajemen                 Profil Perusahaan          Analisa & Pembahasan Manajemen
 3                       Highlights                   Management Report                 Company Profile            Management Discussion & Analysis
Page 45
Laporan Tahunan 2024




  Ÿ    Notaris Christina Dwi Utami, S.H., M.Hum., M.Kn. No. 99,             Ÿ    Notarial Deed No. 99, dated November 10, 2022. of Christina
       tanggal 10 November 2022.                                                 Dwi Utami, S.H., M.Hum., M.Kn.
  Ÿ    Notaris Christina Dwi Utami, S.H., M.Hum., M.Kn. No. 373,            Ÿ    Notarial Deed No. 373, dated June 30, 2023. of Christina Dwi
       tanggal 30 Juni 2023.                                                     Utami, S.H., M.Hum., M.Kn.
  Ÿ    Notaris Christina Dwi Utami, S.H., M.Hum., M.Kn. No. 41,             Ÿ    Notarial Deed No. 41, dated June 28, 2024. of Christina Dwi
       tanggal 28 Juni 2024.                                                     Utami, S.H., M.Hum., M.Kn.


  Alamat Perusahaan                                                         Company Address
  Kantor Pusat SPINDO                                                       SPINDO Head Office
  Jl. Kalibutuh No. 189 -191,                                               Jl. Kalibutuh No. 189 -191,
  Surabaya 60173, East Java, Indonesia.                                     Surabaya 60173, East Java, Indonesia.
  p : +6231 532 0921, 531 6921,                                             p : +6231 532 0921, 531 6921,
      +6231 532 0320, 535 3290,                                                 +6231 532 0320, 535 3290,
  f : +6231 531 0712, 532 0290,                                             f : +6231 531 0712, 532 0290,


  Kantor SPINDO Jakarta                                                     SPINDO Jakarta Office
  Gedung Baja, Lt. 7, Jl. Pangeran Jayakarta No. 55,                        Gedung Baja, Lt. 7, Jl. Pangeran Jayakarta No. 55,
  Jakarta 10730, Indonesia.                                                 Jakarta 10730, Indonesia.
  p : +6221 6231 3502                                                       p : +6221 6231 3502
  f : +6221 624 0313                                                        f : +6221 624 0313


  SPINDO Karawang (SKF)                                                     SPINDO Karawang (SKF)
  Kawasan Industri Mitra (KIM), Jl. Mitra Raya No. II Blok F2,              Kawasan Industri Mitra (KIM), Jl. Mitra Raya No. II Blok F2,
  Karawang 41363, Indonesia                                                 Karawang 41363, Indonesia
  p : +6221 8911 5085, +62267 440 823                                       p : +6221 8911 5085, +62267 440 823
  f : +62267 440 587                                                        f : +62267 440 587


  Kantor Cabang SPINDO SEMARANG                                             SPINDO SEMARANG Representative Office
  Genius Idea @ Dafam Space Menara Suara Merdeka, Lt 11 - R9,               Genius Idea @ Dafam Space Menara Suara Merdeka, Lv. 11 - R9,
  Jl. Pandanaran No.30, Pekunden, Kec. Semarang Tengah,                     Jl. Pandanaran No.30, Pekunden, Kec. Semarang Tengah,
  Semarang, Jawa Tengah 50134, Indonesia.                                   Semarang, Central Java 50134, Indonesia.


  Kantor Cabang SPINDO PEKANBARU                                            SPINDO PEKANBARU Representative Office
  Graha Pena Riau Lt. 7 - R705,                                             Graha Pena Riau Lt. 7 - R705,
  Jalan HR. Soebrantas Panam Km. 10,5 Sidomulyo Barat, Tuah                 Jalan HR. Soebrantas Panam Km. 10,5 Sidomulyo Barat, Tuah
  Karya, Kec. Tampan, Pekanbaru, Riau 28294, Indonesia.                     Karya, Kec. Tampan, Pekanbaru, Riau 28294, Indonesia.


  Surat Elektronik                                                          Email
  marketing@spindo.co.id (marketing)
  corsec@spindo.co.id (corporate secretary & investor relations)


  Informasi bagi Investor                                                   Information for Investor
  Situs                                                                     Sites
  www.spindo.com


  Media Sosial                                                              Social Media
                       SPINDO                  SPINDOSTEELPIPE

           Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan             Referensi                  Laporan Keuangan            37
           Corporate Governance           Corporate Social Responsibility           References                 Financial Statements          3
Page 46
                                                                                                                            2024 Annual Report



Sekilas Perusahaan
Company Overview



PT Steel Pipe Industry of Indonesia Tbk (SPINDO) didirikan pada                     PT Steel Pipe Industry of Indonesia Tbk (SPINDO) was established in
tahun 1971 di Surabaya dengan anggaran dasar sebagai produsen                       1971 in Surabaya. Its articles of association stipulate that SPINDO
pipa baja. Setelah itu, Perseroan telah berkembang menjadi kapasitas                shall operate as a steel pipe manufacturer. The Company has since
produksi terbesar di Indonesia dan berpengalaman dalam                              then grown as a steel manufacturer with the largest production
memproduksi berbagai macam pipa baja / tabung dan berbagai                          capacity in Indonesia, bringing a wealth of industrial experience and
produk terkait lainnya.                                                             producing a diverse range of steel pipes and tubes and other steel-
                                                                                    based products.
Portofolio produk Perseroan terdiri dari beragam produk kustom
(dibuat sesuai pesanan) dan produk pipa baja karbon serta pipa                      SPINDO's product portfolio consists of a number of customized
stainless steel. Produk-produk Perseroan digunakan untuk berbagai                   products, carbon steel pipes and stainless-steel pipe products. The
industri : konstruksi, infrastruktur, utilitas, minyak dan gas, furnitur,           Company's products are used for various industries, particularly
dan otomotif. Selain memproduksi berbagai produk pipa baja,                         construction, infrastructure, utilities, oil and gas, furniture, and
SPINDO juga menawarkan layanan jasa lainnya galvanisasi,                            automotive. In addition to producing various steel pipe products,
shearing, slitting, 3LPE coating, internal dan external epoxy coating,              SPINDO also offers services such as galvanizing, shearing, slitting,
cement lining, dan uji kendali mutu di laboratorium modern                          3LPE coating, internal and external epoxy coating, cement lining and
perusahaan.                                                                         quality control testing conducted in the Company's modern
                                                                                    laboratory.
Dalam perjalanannya yang kini telah menggenapi lima dekade,
Perseroan berhasil mengembangkan bisnis secara signifikan.                           Through a five-decade journey, we have managed to grow our
Serapan pasar akan produk-produk yang dihasilkan membuat                            business significantly. The Company's product and service
Perseroan terus melakukan peningkatan kualitas dan produktivitas                    absorption by the market has enabled us to continuously improve our
hingga mendapatkan sejumlah sertifikasi untuk kualitas produknya                     product and service quality and productivity, as well as attain a
ya n g u n g g u l . Pa d a t a h u n 1 9 9 8 , Pe r s e ro a n m e l a k u k a n   number of certifications in recognition of our excellent product and
penggabungan usaha dengan PT Radjin sebagai bentuk perluasan                        service quality. In 1998, SPINDO embarked on a business expansion




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  bisnis yang memproduksi beragam pipa baja. Pada tahun 2005,                and merged with PT Radjin, allowing the Company to produce a
  Perseroan kembali melakukan perluasan unit usahanya dengan                 wider variety of steel pipes. In 2005, the Company further expanded
  membangun unit produksi di Karawang dengan perlengkapan                    its business operations by building a production unit in Karawang that
  industri pipa baja dengan teknologi terkini.                               is equipped with the latest steel-pipe manufacturing technology.


  Perjalanan dalam mengembangkan sayap bisnis semakin diperkuat              SPINDO conducted an Initial Public Offering on 28 January 2013 as
  saat Perseroan melakukan Penawaran Umum Perdana pada 28                    one of the key strategies to business expansion. On 22 February
  Januari 2013. Pada 22 Februari 2013, Perusahaan resmi tercatat di          2013, the Company was officially listed on the Indonesia Stock
  Bursa Efek Indonesia (BEI) sebagai Perseroan terbuka PT Steel Pipe         Exchange (IDX) as a public company named PT Steel Pipe Industry of
  Industry of Indonesia Tbk. dengan kode emiten ISSP.                        Indonesia Tbk. with the issuer code 'ISSP'.


  Inovasi pun terus dilakukan dengan melihat peluang investasi untuk         The Company is determined to introduce new innovations and take
  menjaga keberlangsungan bisnis termasuk peningkatan kapasitas              advantage of investment, as well as increasing production capacity
  produksi dan efisiensi. Unit produksi Perseroan yang telah beroperasi       and efficiency, in order to maintain business sustainability. Our
  berlokasi di Surabaya (3 unit), Sidoarjo (1 unit), Pasuruan (1 unit),      production units that are currently in operation are located in
  Karawang (1 unit) dan Gresik (1 unit). Unit produksi Gresik saat ini       Surabaya (3), Sidoarjo (1), Pasuruan (1), Karawang (1), and Gresik (1).
  telah beroperasi dan masih dalam tahap Pembangunan jangka                  The Gresik production unit is also in a long-term development stage
  panjang dengan teknologi otomatis terkini. Upaya memperluas                as it is armed with the latest automatic technology. Parallel to this,
  jangkauan distribusi diwujudkan dengan pembangunan gudang stok             over the year 2024 we have built stock and sales warehouses across
  dan penjualan yang berlokasi di Bandung, Jakarta, Pasuruan, Gresik,        Indonesia's islands and provinces, i.e., Bandung (West Java);
  Sidoarjo, Samarinda, dan Makassar pada tahun 2024. Saat ini                Pasuruan, Gresik and Sidoarjo (East Java); Jakarta; Samarinda (East
  Perseroan telah memiliki 7 fasilitas manufaktur di Indonesia dengan        Kalimantan), and Makassar (South Sulawesi), in an effort to expand
  total 38 lini produksi yang masing-masing dapat dikalibrasi untuk          the distribution network. SPINDO's seven manufacturing facilities
  menghasilkan berbagai jenis pipa.                                          have a total of 38 production lines, each of which can be calibrated to
                                                                             produce different types of pipes.




           Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan          Referensi                      Laporan Keuangan              39
           Corporate Governance            Corporate Social Responsibility        References                     Financial Statements            3
Page 48
                                                                                                                                 2024 Annual Report



Visi, Misi & Nilai-Nilai Perusahaan
Vision, Mission & Corporate Values


                                                                           Meningkatkan Kualitas Hidup
              Visi | Vision
                                                                           Improving Quality of Life.


              Misi | Mission
              Menopang visi dengan terus melakukan pembaharuan melalui pembelajaran dan peningkatan
              yang berkelanjutan, penerapan teknologi baru dan dengan mempraktikan cara bisnis terbaik
              Support the Company's vision by conducting continuous learning and improvement, utilizing
              new technologies, and adopting best business practices


              Menyediakan produk yang dapat diandalkan dari karyawan yang sangat terampil, produktif
              dan berdedikasi melalui proses produksi yang mumpuni.
              Provide reliable products that are developed by highly skilled, productive and dedicated
              employees through strict production processes

              Mengembangkan diversifikasi pasar yang memberikan stabilitas serta keuntungan finansial.
              Diversify market to bring financial gain and stability


              Memberikan lingkungan yang berorientasi pada pertumbuhan bagi masyarakat.
              Provide a supportive environment for the communities to grow




          Nilai-Nilai Perusahaan | Corporate Values
Kejujuran adalah suatu sikap, perkataan,         Kepedulian adalah suatu          Kedisiplinan adalah tindakan dalam           Kompak adalah kemampuan
maupun tindakan yang timbul dari dalam diri      sikap ikut merasakan dan         melaksanakan kewajiban, rutinitas            melaksanakan kerja secara
seseorang dengan berlandaskan kenyataan,         mengerti akan kepentingan        dengan penuh rasa tanggung jawab             bersama-sama untuk mencapai
hati nurani, dan kebenaran tanpa dipengaruhi     orang lain.                      dan menaati peraturan.                       satu tujuan yang sama.
situasi apapun.


Honesty constitutes one's attitude, words,       Caring entails feeling care      Discipline is the ability to do what one     Solidity is manifested in the ability
and actions that reflect their inner self and     and showing understanding        is expected to do and follow routines        to work in collaboration with
rest on reality, conscience, and truth           of other people's interest.      with a full sense of responsibility and in   others toward a common goal.
regardless of immediate or actual situation.                                      obedience to regulations.


Komunikasi adalah kegiatan pemberian informasi                    Kecepatan adalah kemampuan                          Kreativitas adalah kemampuan
yang mengandung arti/pesan yang perlu dipahami                    melakukan penyelesaian pekerjaan                    menciptakan/ memberikan gagasan, ide
bersama oleh pihak-pihak yang terkait dalam kegiatan              secara cepat dengan hasil memuaskan                 maupun inovasi terhadap tugas,
komunikasi.                                                       dan sesuai standart yang ditetapkan.                pekerjaan, lingkungan kerja.


Communication refers to the process by which people               Agility is the ability to complete job              Creativity is the ability to produce and put
exchange meaningful information or message so that                quickly to a satisfactory required                  concepts, ideas or innovations into tasks,
the parties involved in the interaction achieve a mutual          standard.                                           work, work environment.
understanding.




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  Tujuan Perusahaan | Company objectives

  Perseroan menetapkan tujuan perusahaan sebagai                           The Company sets corporate goals as guidelines and
  pedoman dan arah untuk seluruh kegiatan organisasi.                      directions for all organizational activities. These
  Tujuan tersebut adalah:                                                  objectives are:




  Smart
  Bekerja dengan cerdik untuk mencapai tujuan
  bersama yang spesifik, terukur, disepakati, realistis,
  dan dapat ditelusuri.
                                                                     Work intelligently to achieve shared goals that are
                                                                     specific, measurable, agreed, realistic and traceable.
                                                                                                                                                   S
  Professional & Credible
  Mampu dan mau serta dapat dipercaya dalam
  menjalankan tugas dan tanggung jawab secara
  terus-menerus.
                                                                     Demonstrate capability, willingness and reliability with
                                                                     respect to the fulfillment of task and responsibility on
                                                                     an ongoing basis.
                                                                                                                                                   P
  Innovation & Continuous
  Improvement
  Berusaha untuk melakukan perubahan &                               Strive to make constant changes and quality
  meningkatkan kualitas secara terus menerus serta
  mencari cara-cara baru dalam membuat barang &
  jasa industri sesuai kebutuhan pasar demi
                                                                     improvements and continually seek new ways to offer
                                                                     industrial goods and services according to market
                                                                     needs for the sake of the Company's sustainability.
                                                                                                                                                   I
  kelangsungan hidup perusahaan.


  No Complaints
  Selalu memuaskan semua pelanggan baik dari dalam                   Satisfy customers that are internal and external to the
  maupun luar perusahaan.                                            Company at all times.
                                                                                                                                                   N
  Discipline & Loyalty
  Taat, patuh dan selalu melaksanakan dengan baik                    Obey, comply with and observe the Company's
  tata tertib perusahaan, tugas, jabatan, kerja serta
  setia dan ikut memajukan perusahaan.
                                                                     regulations; perform tasks and duties effectively; build
                                                                     loyalty to the Company; contribute to the Company
                                                                     advancement.
                                                                                                                                                   D
  Organized & Teamwork

                                                                                                                                                   O
  Bersedia dan mampu untuk bekerja sama sebagai tim                  Show willingness and ability to work together as a
  yang tangguh dan saling melengkapi untuk mencapai                  strong team that complement one another toward
  tujuan Perseroan yang telah disepakati.                            achieving the Company's common goal.




          Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan                       Referensi                      Laporan Keuangan          41
          Corporate Governance           Corporate Social Responsibility                     References                     Financial Statements        3
Page 50
                                                                                                                                                          2024 Annual Report



Jejak Langkah
Milestones

1971                                     1989                                               1991                                    1993                           1996
Perseroan berdiri sebagai                Ibnu Susanto, pemegang saham                       Pendirian pabrik di                     Transformasi menjadi            Memperoleh Sertifikat
perusahaan investasi asing               “Perusahaan Dagang dan Industri                    Pasuruan dengan mulai                   perusahaan lokal.               API 5L dari American
di Indonesia dengan nama                 PT Radjin” mengakuisisi seluruh                    memproduksi pipa spiral                                                 Petroleum Institute (API)
PT Steel Pipe Industry of                saham Kawasaki Steel Corporation                   dengan teknik SSAW.                     Transformed into a              untuk proses pipa SSAW.
Indonesia (SPINDO).                      dan Itochu Corporation.                                                                    local company.
                                                                                            Established Manufacturing                                               Obtained a certificate of
Began business as a foreign              Ibnu Susanto, shareholders of                      Plant in Pasuruan to produce                                            API 5L from the American
investment company                       “Perusahaan Dagang dan Industri                    Spiral Submerged Arc                                                    Petroleum Institute (API)
incorporated in Indonesia                PT Radjin” purchased all the issued                Welded (SSAW).                                                          for SSAW Process.
under the name PT Steel Pipe             shared in Kawasaki Steel Corporation
Industry of Indonesia (SPINDO).          and Itochu Corporation.




2011                             2013                                      2014                                            2015
Memperoleh sertifikat            Penawaran saham perdana                    Ÿ   Implementasi proyek SAP ECC                 Ÿ   Pertemuan Para Analis      Ÿ    Penandatanganan nota
Occupational Health &            SPINDO, 28 Januari 2013 di                     6 untuk seluruh unit bisnis.                    di Gedung Bursa Efek            kesepahaman antara
Safety Management                The Ritz-Carlton Jakarta,                  Ÿ   Pabrik Unit 6 telah beroperasi.                 Indonesia, Jakarta pada         SPINDO, JFE Steel Corp., dan
System (OHSAS).                  Pacific Place & Listing tanggal            Ÿ   Peresmian perluasan pabrik                      tanggal 14 September            Marubeni-Itochu Inc. pada
                                 22 Februari 2013 di BEI Jakarta.               SPINDO Unit 5 - Karawang.                       2015,                           tanggal 14 Desember 2015,
Obtained a certificate
of Occupational Health           Initial Public Offering (IPO) of           Ÿ   Implementation of SAP ECC 6                 Ÿ   Analyst Meeting at         Ÿ    MOU signing ceremony
& Safety Management              SPINDO on January 28th, 2013,                  project for all business units.                 Indonesia Stock                 between SPINDO, JFE Steel
System (OHSAS).                  The Ritz-Carlton Jakarta,                  Ÿ   Plant Unit 6 has been running.                  Exchange Building,              Corp. and Marubeni-Itochu
                                 Pacific Place & Listing on                 Ÿ   Official opening of SPINDO Unit                 Jakarta on September            Inc. on December 14th, 2015,
                                 22 February 2013, Indonesian                   5 - Karawang expansion plant.                   14th, 2015,
                                 Stock Exchange, Jakarta.




2021                                                                                                                                                       2022
Ÿ    Terpilih sebagai Best Issuer 2020 untuk             Ÿ    Mengirimkan ekspor terbesar selama         Ÿ     Untuk pertama kalinya                       Ÿ   Mulai mengoperasikan mesin
     sektor industri metal dan kabel. Penilaian               sejarah operasi SPINDO sekitar                   menerbitkan Surat Utang                         produksi pipa baja nirkarat
     dilakukan berdasarkan delapan kriteria,                  9.600 ton dalam satu pengiriman                  yang ditawarkan kepada                          (stainless steel) yang baru.
     antara lain: return, likuiditas dan tingkat              pada bulan Juli hingga Agustus 2021              Publik dengan instrumen
     volatilitas saham selama satu tahun,                     ke Kanada.                                       Obligasi dan Sukuk Ijarah.                  Ÿ   Started operating a new
     pertumbuhan penjualan selama tiga tahun,            Ÿ    Melaksanakan kegiatan Witness                                                                    machine for stainless steel
     Net Operating Margin, imbal hasil ekuitas,               Assessment Uji Kompetensi di LSP           Ÿ     For the first time issuing                       pipe production.
     turnover aset, dan pertumbuhan                           SPINDO oleh tim asesor Badan                     Debt Securities offered to
     pendapatan operasional selama tiga tahun.                Nasional Sertifikasi Profesi (BNSP).              the Public with Bonds and
                                                                                                               Sukuk Ijarah instruments.
Ÿ    Selected as Best Issuer 2020 in the metal           Ÿ    Delivered the biggest export in
     and cable industry category. The                         SPINDO history approximately 9,600
     assesment was conducted based on eight                   tons in one shipment on July to
     criterias, namely: return, liquidity and stock           August 2021 to Canada.
     volatility rate for 1 year, sales growth rate       Ÿ    Conducted Witness Assessment of
     for the last three years, Net Operating                  Competency Test at LSP SPINDO by
     Margin, return on equity, assets turnover                assessor team of National
     rate and operating revenue growth rate for               Professional Certification Board
     the last three years.                                    (BNSP).



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 1998                                       2005                                                                  2007                                          2010
  Merger dengan                             Pendirian pabrik              Memperoleh sertifikasi                  Memperoleh ISO TS                              Persetujuan dari
  “Perusahaan Dagang                        di Karawang yang              API SL 0475 sebagai                     16949 Quality                                  Building and Construction
  dan Industri PT Radjin”                   memproduksi pipa              penyedia pipa industri                  Management System                              Authority di Singapura
  dan mempertahankan                        mekanik untuk                 minyak dan gas bumi                     untuk pipa otomotif di                         untuk menyediakan pipa
  nama SPINDO.                              industri otomotif.            di Indonesia.                           pabrik Karawang.                               baja spiral.


  Merged with                               Established                   Obtained a certification                Obtained a certificate                         Approved by Building
  “Perusahaan Dagang                        manufacturing plant           of API SL 0475 for oil                  of ISO TS 16949 Quality                        and Construction Authority,
  dan Industri PT Radjin”;                  in Karawang which             and gas industries in                   Management System for                          a statutory board of
  Retained the name of                      produces mechanical           Indonesia.                              automotive pipes in                            Singapore Government for
  SPINDO.                                   pipes for automotive                                                  Karawang.                                      spiral steel pipes.
                                            industries.




  2017                                             2018                                              2019                                                       2020
  Penandatanganan kerja-                           Ekspor perdana pipa                               Ÿ    Pembukaan Depo Samarinda                               Ÿ     Memperoleh ISO
  sama untuk pasokan bahan                         bersertifikasi UL                                      untuk melayani pelanggan di                                  14001 sebagai
  baku antara SPINDO dan                           (Underwriters Laboratory)                              area Kalimantan Timur.                                       komitmen Perseroan
  Benxi Steel Group Co. Ltd.                       ke Kanada dan Amerika                             Ÿ    Launching jalur digital antara                               terhadap lingkungan
  tanggal 30 November 2017,                        pada tanggal 23 Januari                                lain, Instagram, Linkedin, dan                               untuk seluruh produk
                                                   2018,                                                  Youtube Channel.                                             yang dihasilkan.
  Signing of Cooperation
  between SPINDO and Benxi                         First export of UL                                Ÿ    Opening of Samarinda Depot                             Ÿ     Obtained ISO 14001
  Steel Group Co. Ltd. on                          (Underwriters Laboratory)                              to serve customers in East                                   as the Company's
  November 30th, 2017,                             certified pipes to Canada                              Kalimantan area.                                             commitment to the
                                                   and America on January 23rd,                      Ÿ    Launching digital channels,                                  environment for all
                                                   2018,                                                  such as, Instagram, Linkedin,                                products produced.
                                                                                                          and Youtube Channel.




  2023                                                                                                                                 2024
  Ÿ   SPINDO menerbitkan Penawaran Umum               Ÿ    Pemancangan pertama Plant 7                                             Ÿ    SPINDO menerbitkan Penawaran Obligasi Terkait
      Berkelanjutan (PUB) II Tahap II sebesar              SPINDO Gresik pada bulan                                                     Keberlanjutan sebesar Rp 1.000.000.000.000,00
      Rp 170.000.000.000,00 dengan spread                  September 2023.                                                              (1 triliun) yang ditanggung sepenuhnya oleh CGIF.
      sebesar 100 bps terhadap Benchmark              Ÿ    Memperoleh sertifikat MONOGRAM                                           Ÿ    Pembukaan Warehouse Plant 7 SPINDO Gresik
      Obligasi Negara.                                     LISENCE API 5L-1276 dari American                                            pada Juli 2024.
  Ÿ   Peresmian Depo SPINDO ke-empat di                    Petroleum Institute (API).
      Makassar tanggal 15 Juni 2023.                                                                                               Ÿ    SPINDO issued a Sustainability-Linked Bond
                                                      Ÿ    First groundbreaking for Plant 7                                             offering in the amount of IDR 1,000,000,000,000
  Ÿ   SPINDO issued its Continuous Public                  SPINDO Gresik in September 2023.                                             (one trillion Rupiah), which is fully guaranteed by
      Offering (PUB) II Phase II worth Rp             Ÿ    Obtained MONOGRAM LICENCE                                                    CGIF.
      170,000,000,000.00 at a spread of 100                API 5L-1276 certificate from the                                         Ÿ    The inauguration of SPINDO's Warehouse Plant 7
      basis points over the government bond                American Petroleum Institute (API).                                          in Gresik is scheduled for July 2024.
      benchmark.
  Ÿ   The inauguration of the fourth SPINDO
      warehouse in Makassar on June 15, 2023.




             Tata Kelola Perusahaan             Tanggung Jawab Sosial Perusahaan                          Referensi                              Laporan Keuangan                            43
             Corporate Governance                 Corporate Social Responsibility                        References                             Financial Statements                          3
Page 52
                                                                                                                       2024 Annual Report



Bidang Usaha, Produk & Jasa
Business Lines, Products & Services

Kegiatan usaha Perseroan adalah merancang dan memproduksi                  The Company's business activities involve designing and producing
bebagai macam produk pipa baja berdasarkan kategori, baik standar          various types of steel pipes, categorized either as standard or
maupun yang dibuat berdasarkan pesananan yang dikostumisasi                customized according to customer specifications. The production
sesuai dengan spesifikasi pelanggan. Produksi yang dilakukan                includes a wide range of pipes made from hot-rolled carbon steel,
meliputi berbagai jenis pipa yang dibuat dari karbon hot rolled, cold      cold-rolled steel, and stainless steel. The pipes produced by the
rolled dan stainless steel. Hasil produksi pipa Perseroan digunakan        Company are used in various industries such as infrastructure,
untuk berbagai industri seperti industri infrastruktur, otomotif, minyak   automotive, oil and gas, drinking water pipes, and others. In addition
dan gas, pipa air minum, dan lain sebagainya. Selain memproduksi           to producing various types of pipes for diverse industries, the
berbagai macam produk pipa untuk beragam industri, Perseroan juga          Company also provides internal and external coating and protection
menyediakan jasa layanan pelapisan (coating dan protection) internal       services.
dan eksternal.


Untuk pangsa pasar domestik, Perseroan telah menjajaki pasar ritel         For the domestic market, the Company has tapped into both retail and
dan proyek, dimana keduanya berkontribusi setara 90% bagi                  project markets, with each contributing equally to 90% of the
pendapatan Perseroan. Sementara pasar global menyasar kawasan              Company's revenue. Meanwhile, the global market focuses on North
Amerika Utara - Kanada, dan Australia. Untuk Asia Perseroan                America—Canada—and Australia. In Asia, the Company targets
menyasar pasar Vietnam, Malaysia, dan Timor Leste.                         markets in Vietnam, Malaysia, and Timor-Leste.




Produk | Products
Produk- produk yang dihasilkan SPINDO adalah:                              The products manufactured by SPINDO are :


Pipa Struktural                                                            Structural Pipes
ERW: Pipa baja ERW SPINDO telah digunakan pada beberapa                    ERW steel pipe is used in numerous bridge construction projects and
proyek jembatan, proyek konstruksi terutama untuk bangunan                 other construction projects mainly for wide-span structure: airport,
bentang lebar: bandara, stadion, aula, dll, serta aplikasi struktural      stadium, hall and more as well as structural application of building
selubung bangunan. Perseroan telah melayani ragam proyek, mulai            envelopes. The Company has served a variety of projects from the
dari proyek konstruksi raksasa milik pemerintah dan proyek luar            Government’s mega construction projects and overseas projects to
negeri hingga proyek-proyek swasta lokal dengan kontraktor umum.           local private projects with general contractors.


SSAW: Pipa baja SSAW SPINDO sangat ideal untuk digunakan pada              SSAW steel pipe is very ideal to be used in various structural
berbagai aplikasi struktural, seperti pekerjaan pondasi (tiang             applications, such as foundation work (piles SNI 8052:2014, ASTM A
pancang SNI 8052:2014, ASTM A 252) dan di dermaga, jembatan                252) and in piers, bridges and project building construction.
dan konstruksi bangunan proyek. Pipa baja SPINDO sangat                    SPINDO’s steel pipe is very useful as an alternative construction
bermanfaat sebagai bahan alternatif konstruksi karena proses               material due to the accurate manufacturing process of the spiral pipe
manufaktur pembentukan pipa spiral yang akurat membuat produk              that makes it easy to use, combined with high quality welding and
yang mudah digunakan, serta dikombinasikan dengan pengelasan               product quality control to ensure reliability.
berkualitas tinggi dan uji produk untuk memastikan keandalan.



Pipa Air                                                                   Water Pipes
ERW: Pipa Baja SPINDO memenuhi berbagai standar kelayakan                  ERW: ERW: SPINDO Steel Pipe meets various eligibility standards for
penggunaannya sebagai pipa air, salah satunya adalah SNI 0039.             its use as water pipes, such as SNI 0039. The pipes coating process



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  Pipa Air ERW SPINDO melalui proses pelapisan yang telah teruji            which has been well tested enables SPINDO to produce the best
  supaya dapat menyediakan produk dengan kualitas terbaik.                  quality product. These steel pipes are mostly used for water
  Penggunaan pipa baja ini terutama untuk jaringan pipa air transmisi,      transmission pipeline, water treatment plant, wastewater treatment
  pabrik pengolahan air, pabrik pengolahan air limbah, fasilitas            plant, hydro power facilities and water circulation system in buildings.
  penggunaan tenaga air, dan sistem sirkulasi air pada bangunan. Pipa       This particular product has acquired UL 852 and FM 1630
  Air ERW SPINDO juga telah mendapatkan sertifikasi UL 852 dan FM            certifications which are conventionally used abroad for fire
  1630, dimana sertifikasi ini biasa dipakai di luar negeri untuk pipa       extinguisher systems.
  pemadam kebakaran.


  SSAW: Pipa air SSAW SPINDO digunakan untuk distribusi air                 SSAW: SPINDO SSAW water pipe is used for water distribution
  dengan diameter besar, seperti pada terowongan air, pabrik                systems with large diameters, such as water tunnel systems, water
  pengolahan air, pabrik pengolahan air limbah, dan sebagainya. Pada        treatment plants, wastewater treatment plants, etc. This pipe variant
  pipa jenis ini terdapat beberapa lapisan pada bagian dalam dan luar       has several layers of coating both on the inner and outer surface of the
  pipa, seperti cement mortar lining dan internal epoxy coating pada        pipe such as cement mortar lining and internal epoxy coating on the
  bagian dalam pipa. Untuk lapisan luar terdapat lapisan three-layer        inner part of the pipe. The outer layer consists of three-layer
  polyethylene dan juga external epoxy coating.                             polyethylene and an external epoxy coating.



  Pipa Oil & Gas                                                            Oil & Gas Pipes
  ERW: SPINDO merupakan salah satu supplier pipa ERW untuk                  ERW: SPINDO one of the suppliers of API 5L certified ERW pipes for
  minyak dan gas, dengan sertifikasi API 5L. Pipa ERW kami tersedia          the oil and gas industry. ERW pipes are available in various grades,
  dalam berbagai grade, ketebalan, dan diameter pipa sesuai                 thicknesses and diameters to accommodate the customers’ needs.
  kebutuhan pelanggan. Proses produksi pipa ERW menggunakan                 Our ERW pipes production process utilizes high-quality materials, a
  material berkualitas tinggi, pengecoran terus menerus, proses kontrol     continuous casting process, roll control process, fine-grain, low
  rol, fine grain, serta baja karbon rendah yang sesuai dengan               carbon steel that has met the required standards of API 5L.
  persyaratan standar API 5L.


  SSAW: SPINDO memproduksi pipa SSAW berkualitas tinggi                     SSAW: SPINDO produces high quality large diameter SSAW pipe for
  berdiameter besar untuk industri minyak dan gas. Manufaktur kami          the oil and gas industry. Our manufacturer utilizes the production
  menggunakan proses produksi berteknologi terkini dan otomatisasi          process of the latest technology and automation process as the
  sebagai langkah maju terdepan. Berbagai ukuran, kapasitas yang            leading strategic step. Various sizes, adequate
  memadai, kemampuan proses pelapisan pipa, dan lokasi strategis            capacity, surface coating ability and strategic locations are our
  menjadi keunggulan kami dalam meraih pasar Indonesia.                     primary strengths in capturing Indonesian market.



  Pipa Stainless Steel                                                      Stainless Steel Tubes & Pipes
  Pipa Industri: Pipa stainless steel SPINDO memiliki ketahanan yang        Industrial Pipes: SPINDO stainless steel pipes have extremely well
  sangat baik terhadap korosi, tahan panas, serta telah digunakan           durability against corrosion and heat. It has been used as raw
  sebagai bahan baku yang dapat menahan lingkungan yang korosif             materials that can withstand corrosive environments such as
  seperti industri kimia.                                                   chemical industries.


  Pipa Ornamen (Ornamental Tubes) SPINDO banyak digunakan untuk             Ornamental Tubes: Because of their strength and resistance to
  berbagai peralatan sehari-hari karena sangat awet dan mampu               corrosion, SPINDO ornamental tubes are extensively utilized for a
  menahan korosi. Pipa ini tahan karat, bahkan apabila elemennya tak        range of common appliances. These tubes withstand heat, rust even
  terlindungi, tahan panas, dan kondisi ekstrim lainnya.                    in exposed environments, and other harsh situations with durability.



           Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan          Referensi                      Laporan Keuangan               45
           Corporate Governance           Corporate Social Responsibility        References                     Financial Statements             3
Page 54
                                                                                                                      2024 Annual Report




Pipa GI                                                                    Galvanized Iron Pipes
Pipa GI (Galvanized Iron) merupakan pipa yang terbuat dari baja dan        Galvanized Iron Pipes are made of steel and dipped in a protective
dilapisi oleh pelindung yang terbuat dari bahan seng. Lapisan              zinc coating to prevent corrosion and make it durable. Other than that,
tersebut ditujukan untuk melindungi baja dari korosi sehingga              solid steel construction renders galvanized pipes durable and long-
penggunaannya lebih awet. Selain itu, konstruksi baja yang kuat            lasting.
membuat Pipa GI tahan terhadap beban berat dan juga tahan lama.


Pipa GI SPINDO sebagian besar diaplikasikan sebagai rangka langit-         Galvanized Iron pipes/SPINDO GI Pipes are mostly installed as ceiling
langit/plafon, rangka partisi dinding, kanopi, pagar, gerbang, saluran     frames/ceiling, frames in partition walls, canopies, fences, gates,
kabel listrik dan telekomunikasi. Pipa SPINDO secara fleksibel              electrical/telecommunication cable lines. SPINDO pipes are flexibly
diproduksi sesuai spesifikasi standar atau custom.                          produced according to the customized or standard specifications.



Pipa Perabot                                                               Furniture Tubes
Pipa perabot / furnitur merupakan salah satu varian dari pipa baja         Furniture tubes are a type of black steel tubes (black tube). This black
hitam (pipa hitam). Berbagai produk furnitur fabrikasi dari varian pipa    tube variation is used to build a variety of furniture products, including
hitam yang satu ini, beberapa di antaranya adalah rangka meja atau         table or chair frames, beds, shelves or cupboards, and so on.
kursi, ranjang, dan rak atau lemari, dsb.



Pipa Mekanis                                                               Mechanical Pipes
SPINDO memproduksi pipa mekanis dengan kualitas terbaik yang               Mechanical Pipes: SPINDO produces the best quality mechanical
dapat diaplikasikan untuk bermacam-macam kegunaan, seperti                 pipes that can be applied for various purposes such as furniture
bahan furnitur, struktur rangka bus, rangka sepeda, sparepart              material, bus frame structure, bicycle frame, automotive spare parts
otomotif dan juga beberapa bagian kendaraan bermotor. Pipa                 as well as several parts of motorized vehicles. SPINDO mechanical
Mekanis SPINDO telah melewati serangkaian tahap pengecekan dan             pipes have gone through a series of inspection and testing phases in
juga pengetesan agar dapat menghasilkan Mechanical Tubes dengan            order to produce the best quality Mechanical Pipes.
kualitas terbaik.



Tiang                                                                      Steel Poles
Tiang Telekomunikasi: Tiang telekomunikasi SPINDO dirancang                Telecommunication poles: SPINDO telecommunication poles are
untuk memenuhi berbagai permintaan pelanggan. Tiang baja                   designed to meet the various demands of the customers. Steel poles
memiliki keunggulan lebih ringan dibandingkan tiang beton, serta           are lighter compared to concrete ones and easy to maintain.
mudah untuk pemeliharaan.


Tiang listrik: Tiang listrik SPINDO tersedia dalam berbagai macam          Electric poles: SPINDO electric poles are available in various sizes and
ukuran dan tipe untuk berbagai kebutuhan tegangan. Sebagai                 variants according to the voltage requirements. As an equipment for
peralatan untuk mendistribusikan listrik, tiang baja menawarkan            electricity distribution, steel poles offer cost-efficient alternatives
alternatif hemat biaya dibanding material yang lain.                       compared to other materials.


Tiang Penerangan: Penerangan jalan raya yang efisien                        Light Poles: Efficient street lighting requires safety, economic and
membutuhkan aspek keamanan, ekonomis dan perawatan yang                    easy maintenance aspects. SPINDO poles meet all the design
mudah. Tiang SPINDO memenuhi persyaratan desain sesuai dengan              requirements according to the existing structure and contemporary
struktur yang ada, serta desain yang kontemporer.                          design.



46                     Ikhtisar Utama                  Laporan Manajemen                 Profil Perusahaan             Analisa & Pembahasan Manajemen
 3                       Highlights                    Management Report                 Company Profile               Management Discussion & Analysis
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Laporan Tahunan 2024




  Jasa | Services

  Pelapisan Internal & Eksternal | Internal & External Coating

  Kemampuan Pelapisan :                                                        Coating Capability :
  Pelapisan Internal                                                           Internal Coating
  Epoxy Coating                                                                Epoxy Coating
  Ÿ       Diameter: 4 – 82 inch                                                Ÿ   Diameter: 4 – 82 inch
  Ÿ       Kapasitas: 500.000 sqm / tahun                                       Ÿ   Capacity: 500.000 sqm / year


  Internal Cement Lining                                                       Internal Cement Lining
  Ÿ       Diameter: 8 – 80 inch                                                Ÿ   Diameter: 8 – 80 inch
  Ÿ       Kapasitas: 250.000 sqm / tahun                                       Ÿ   Capacity: 250.000 sqm / year


      Pelapisan Internal | Internal Coating
      Ÿ    AWWA C210 : Liquid-Epoxy Coating Systems for the Interior and Exterior of Steel Water Pipelines
      Ÿ    API RP5L2 : Recommended Practice for Internal Coating of Line Pipe for Non-Corrosive Gas Transmission Service
      Ÿ    AWWA C205 : Cement-Mortar Protective Lining and Coating for Steel Water Pipe – 4 inch and Larger – Shop Applied
      Ÿ    SSPC-SP10/NACE NO.2 : Near-White Blast Cleaning
      Ÿ    SSPC-SP1 : Solvent Cleaning
      Ÿ    SSPC-PA2 : Measurement of Dry Paint Thickness with Magnetic Gages
      Ÿ    ASTM D4417 : Standard Test Method for Field Measurement of Surface Profile of Blast Cleaned Steel
      Ÿ    ISO 8501-1 : Rust Grades and Preparation Grades of Uncoated Steel Substrates and of Steel Substrates After Overall Removal of
           Previous Coatings
      Ÿ    ASTM D3559 : Standard Test Method for Measuring Adhesion by Tape Test




  Pelapisan Eksternal                                                          External Coating
  Epoxy Coating                                                                Epoxy Coating
  Ÿ       Diameter: 4 – 110 inch                                               Ÿ   Diameter: 4 – 110 inch
  Ÿ       Kapasitas: 750.000 sqm / tahun                                       Ÿ   Capacity: 750.000 sqm / year


  Fusion Bonded Epoxy                                                          Fusion Bonded Epoxy
  Ÿ       Diameter: 4 – 64 inch                                                Ÿ   Diameter: 4 – 64 inch
  Ÿ       Kapasitas: 900.000 sqm / tahun                                       Ÿ   Capacity: 900.000 sqm / year


  3 LPE / 3 LPP                                                                3 LPE / 3 LPP
  Ÿ       Diameter: 4 – 64 inch                                                Ÿ   Diameter: 4 – 64 inch
  Ÿ       Kapasitas: 900.000 sqm / tahun                                       Ÿ   Capacity: 900.000 sqm / year


  Proses Coating dan Proteksi yang kami lakukan mengacu pada                   Our Coating and Protection Processes refer to the international
  standar internasional.                                                       standard.



              Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan          Referensi                     Laporan Keuangan              47
              Corporate Governance           Corporate Social Responsibility        References                    Financial Statements            3
Page 56
                                                                                                                         2024 Annual Report




 Pelapisan Eksternal | External Coating
 Ÿ      AWWA C210 : Liquid-Epoxy Coating Systems for the Interior and Exterior of Steel Water Pipelines
 Ÿ      CAN/CSA Z245.20 : Plant-Applied External Fusion Bond Epoxy Coating for Steel Pipe
 Ÿ      CAN/CSA Z245.21 : Plant-Applied External Polyethylene Coating for Steel Pipe
 Ÿ      ISO 12944 : Paints and varnishes - Corrosion Protection of Steel Structures by Protective Paint Systems
 Ÿ      SSPC-SP10/NACE NO.2 : Near-White Blast Cleaning
 Ÿ      SSPC-SP1 : Solvent Cleaning
 Ÿ      SSPC-PA2 : Measurement of Dry Paint Thickness with Magnetic Gages
 Ÿ      ASTM D4417 : Standard Test Method for Field Measurement of Surface Profile of Blast Cleaned Steel
 Ÿ      ISO 8501-1 : Rust Grades and Preparation Grades of Uncoated Steel Substrates and of Steel Substrates After Overall Removal of
        Previous Coatings
 Ÿ      ASTM D3559 : Standard Test Method for Measuring Adhesion by Tape Test
 Ÿ      ASTM D4541 : Standard Test Method for Pull-Off Strength of Coatings Using Portable Adhesion Testers


Hot Dip Galvanis (SNI 7033:2020) | Hot Dip Galvanize (SNI 7033:2020)
Diameter                     : Maksimum 36 lnch                           Diameter                         : 36 lnch Maximum
Kapasitas                    : 36.000 Ton / tahun                         Capacity                         : 36,000 Ton / year


Potong Plat | Shearing
Tebal                        : 0,50 mm - 12,00 mm                         Thickness                        : 0.50 mm - 12.00 mm
Diameter Luar Coil           : Maksimum 2,2 m                             Coil Outside Diameter            : 2.2 m Maximum
Diameter Dalam Coil          : 508 mm - 762 mm                            Coil Inside Diameter             : 508 mm - 762 mm
Lebar Coil                   : 540 mm - 2.000 mm                          Coil Width                       : 540 mm - 2,000 mm
Berat Coil                   : Maksimum 25 Ton                            Coil Weight                      : 25 Ton Maximum
Panjang                      : 500 mm - 12 m                              Length                           : 500 mm - 12 m



Potong Plat Stainless Steel | Stainless Steel Shearing
Tebal                        : 0,50 mm - 10,00 mm                         Thickness                        : 0.50 mm - 10.00 mm
Diameter Luar Coil           : Maksimum 2,2 m                             Coil Outside Diameter            : 2.2 m Maximum
Diameter Dalam Coil          : 508 mm - 762 mm                            Coil Inside Diameter             : 508 mm - 762 mm
Lebar Coil                   : 540 mm - 2.000 mm                          Coil Width                       : 540 mm - 2,000 mm
Berat Coil                   : Maksimum 25 Ton                            Coil Weight                      : 25 Ton Maximum
Panjang                      : 500 mm - 12 m                              Length                           : 500 mm - 12 m



Slitting | Slitting
Tebal                        : 0,25 mm - 12,00 mm                         Thickness                        : 0.25 mm - 12.00 mm
Diameter Luar Coil           : Maksimum 2,2 m                             Coil Outside Diameter            : Maximum 2.2 m
Diameter Dalam Coil          : 508 mm - 762 mm                            Coil Inside Diameter             : 508 mm - 762 mm
Lebar Coil                   : 500 mm - 1.600 mm                          Coil Width                       : 500 mm - 1,600 mm
Berat Coil                   : Maksimum 25 Ton                            Coil Weight                      : 25 Ton Maximum
Lebar Strip                  : Minimum 22 mm                              Strip Width                      : 22 mm Minimum
Diameter Dalam Strip         : Minimum 508 mm                             Recoiler Inside Diameter : 508 mm Minimum




48                      Ikhtisar Utama                Laporan Manajemen                 Profil Perusahaan                 Analisa & Pembahasan Manajemen
 3                        Highlights                  Management Report                 Company Profile                   Management Discussion & Analysis
Page 57
Laporan Tahunan 2024




  Slitting Stainless Steel | Stainless Steel Slitting
  Tebal                            : 0,50 mm - 8,00 mm                              Thickness               : 0.50 mm - 8.00 mm
  Diameter Luar Coil               : Maksimum 2,2 m                                 Coil Outside Diameter   : Maximum 2.2 m
  Diameter Dalam Coil              : 508 mm - 762 mm                                Coil Inside Diameter    : 508 mm - 762 mm
  Lebar Coil                       : 500 mm - 1.600 mm                              Coil Width              : 500 mm - 1,600 mm
  Berat Coil                       : Maksimum 25 Ton                                Coil Weight             : 25 Ton Maximum
  Lebar Strip                      : Minimum 22 mm                                  Strip Width             : 22 mm Minimum
  Diameter Dalam Strip             : Minimum 508 mm                                 Recoiler Inside Diameter : 508 mm Minimum




  Roll Grooving | Roll Grooving
  Diameter                         : ⁄ inch - 8 inch                                Diameter                : ⁄ inch - 8 inch
  Tebal                            : 2,00 mm - 8,20 mm                              Thickness               : 2.00 mm - 8.20 mm




  Potong Laser | Laser Profile Cut
  Diameter                         : pipa bulat 20 mm - 236 mm                      Diameter                : round pipe 20 mm - 236 mm
                                    pipa kotak & persegi                                                     square & rectangular pipe
                                    20 mm x 20 mm - 100 mm x 100 mm                                          20 mm x 20 mm - 100 mm x 100 mm
  Tebal                            : Maksimum 8,00 mm                               Thickness               : 8.00 mm Maximum




  Swaging | Swaging
  Diameter                         : 1 inch - 2 inch                                Diameter                : 1 inch - 2 inch
  Tebal                            : 1,65 mm - 2,00 mm                              Thickness               : 1.65 mm - 2.00 mm




  Expand | Expand
  Diameter Pipa                    : ERW | HFW : 2”, 4”, 6”, 8”                     Pipe Diameter           : ERW | HFW : 2”, 4”, 6”, 8”
                                    SSAW          : 8” -1.200 mm                                             SSAW           : 8” -1,200 mm
  Thickness                        : ERW | HFW : maksimum 6,5 mm                    Thickness               : ERW | HFW : 6.5 mm max.
                                    SSAW          : maksimum 10 mm                                           SSAW           : 10 mm max.




  Pabrikasi Baja | Steel Fabricator
  Sesuai kebutuhan pelanggan                                                        according to customer needs




          Tata Kelola Perusahaan                Tanggung Jawab Sosial Perusahaan          Referensi                    Laporan Keuangan      49
          Corporate Governance                    Corporate Social Responsibility        References                   Financial Statements    3
Page 58
                                                                                                                                                           2024 Annual Report




Semua produk Perseroan telah berhasil mencapai standar sertifikasi                                           All of our products have succeeded in achieving both national and
baik nasional maupun internasional. Proses penjaminan mutu produk                                           international certification standards. The product quality assurance
diverifikasi terhadap program evaluasi mutu yang ketat, yang                                                 process is verified against a stringent quality evaluation program,
diwujudkan dalam keberhasilan memperoleh sertifikat internasional                                            which is manifested in the success in obtaining international
ISO dan API 5L. Sebagai bagian dari upaya memenuhi standar yang                                             certificates of ISO and API 5L. As part of the efforts to meet the
diakui secara internasional, SPINDO terus memenuhi sejumlah                                                 internationally recognized standards, SPINDO continues to live up to
standar mutu yang ditetapkan oleh badan akreditasi lokal dan                                                a number of quality standards established by local and international
internasional, antara lain ASTM, BS, JIS, ISO, API, AS dan SNI.                                             accreditation bodies, including ASTM, BS, JIS, ISO, API, AS and SNI.




                                                                                                                                   FM 1630 - Certified
                                                                 Komite Akreditasi Nasional                                         UL 852 - Certified
                                                                        LP-1379-IDN
            Quality      Quality    Occupational Environmental
            IATF 16949   ISO 9001   Health and   ISO 14001
                                    Safety
                                    ISO 45001

                                                                                                                                                                          2000
               API5L - Certified
                                                                                           SIRIM                       SIRIM
                                                                                   Certified to MS 863 : 2010 Certified to BS EN 10255 : 2004
                                                                                      Cer. No. : PC011951         Cer. No. : PC011962




Inspeksi & Pengujian Produk | Inspections & Tests
Untuk Pipa tanpa Pelapisan (Coating) | For Bare Pipe
Analisis Kimia | Chemical Analysis                                                                          OES 19 unsur kimia (dengan tambahan CE IIW & CE PCM)

                                                                                                            OES 19 elements (with additional of CE IIW & CE PCM)

                                                                                                            Handheld XRF 28 unsur kimia

                                                                                                            Handheld XRF 28 elements

Uji Tarik | Tensile Test                                                                                    Beban maksimum 200.000 kgf | Maximum Load 200,000 kgf

Charpy Impact Test                                                                                          • Tes temperatur sampai dengan minus 40o C

                                                                                                                Temperature test up to minus 40o C

                                                                                                            • Max. 300 joule

                                                                                                                Max. 300 joule

Drop Weight Tear Test                                                                                       -

Uji Linyak | Flattening Test                                                                                -

Uji Lengkung | Bend Test                                                                                    Sudut Lengkung 90o & 180o | Bending Angle 90o & 180o

Uji Lengkung Terpandu | Guided Bend Test                                                                    Beban maksimum 200.000 kgf | Maximum Load 200,000 kgf

Uji Hidrostatik | Hydrostatic Test                                                                          Diameter Pipa Maksimum 2000mm

                                                                                                            Maximum Pipe Diameter 2000mm

Uji Radiografi | Radiographic Test (RT)                                                                      Source X-Ray, 300 kV & 3mA




50                        Ikhtisar Utama                              Laporan Manajemen                                                 Profil Perusahaan   Analisa & Pembahasan Manajemen
 3                          Highlights                                Management Report                                                 Company Profile     Management Discussion & Analysis
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Laporan Tahunan 2024




  Uji Ultrasonik | Ultrasonic Test (UT)                                       • Automatic online UT

                                                                              • Automatic offline UT

                                                                              • Handheld UT

  Uji Arus Eddy | Eddy Current Test                                           ET online

  Inspeksi Partikel Magnetik | Magnetic Particle Inspection (MPI)             -

  Uji Penetran | Penetrant Test (PT)                                          -

  Hardness Test                                                               Beban 0,3 - 30 kilogram-force | Load 0.3-30 kilogram-force

  Uji Kekerasan | Hardness Survey                                             Rockwell C/B & Brinell

  Metalografi | Metallographic                                                 Pembesaran Maksimum 1000X | Maximum Magnification 1000X




  Untuk Pelapisan | For Coating
  Digital Scanning Calorimeter (DSC)                                          -

  Uji Tarik untuk Pelapisan | Tensile Test for Coating                        Beban Maksimum 500 kgf | Maximum Load 500 kgf

  Cathodic Disbonding                                                         -

  Uji Kompresi Mortal | Mortal Compression Test                               Beban Maksimum 200.000 kgf | Maximum Load 200,000 kgf

  Holiday Detector                                                            Low Voltage 5kV

                                                                              High Voltage 30kV

  Flexibility Test for PE                                                     -

  Peeling Test for PT                                                         Peel Constant Rate

                                                                              Peel Hanging Weight

  Impact for Coating                                                          Maksimum 20 joule | Maximum 20 joule

  Shore Hardness                                                              0 ~ 100 HD

  Adhesion Test                                                               Cross Cut

                                                                              Dolly Test Method

  Uji Kekasaran Permukaan | Surface Roughness Test                            Maximum 350 μm, Accuracy 0,001 μm




           Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan          Referensi                   Laporan Keuangan           51
           Corporate Governance             Corporate Social Responsibility        References                  Financial Statements         3
Page 60
                                                                                                                2024 Annual Report




Rantai Kegiatan Usaha Bisnis | The Chain of Business Activities


Dalam menjalankan bisnisnya, Perseroan menggarap pasar domestik           In conducting its business, the Company is working on the domestic
dan juga global mengingat produk-produk Perseroan diakui                  and global markets in view of the quality of its products that have
kualitasnya dan sudah mendapatkan sertifikasi baik nasional maupun         been recognized and have acquired both national and international
internasional. Basis pelanggan Perseroan meliputi perusahaan              certifications. The Company’s customer basis includes domestic and
domestik Indonesia dan perusahaan-perusahaan multinasional yang           multinational Companies operating in Indonesia namely Total,
beroperasi di Indonesia seperti Total, Chevron, Honda, dan Yamaha,        Chevron, Honda and Yamaha as well as international companies such
serta perusahaan internasional seperti J Steel Australasia Pty, Ltd.      as J Steel Australasia Pty. Ltd.


Di pasar domestik, Perseroan telah melakukan sejumlah                     In the domestic market, the Company has developed several
pengembangan rantai produksi dengan beroperasinya unit produksi           production chains namely production units located in Sidoarjo began
di Sidoarjo pada tahun 2014. Pengembangan bidang usaha dengan             operational in 2014. Other developments conducted by the Company
pembangunan gudang stok dan penjualan di Bandung dan Jakarta              are the construction of stock warehouse and marketing units in
pada tahun 2016, gudang stok dan penjualan di Samarinda pada              Bandung and Jakarta in 2016, Samarinda in 2018 and then Makassar
tahun 2018, dan gudang stok dan penjualan di Makassar pada tahun          in 2023. The Company owns six manufacturing facilities in Indonesia
2023 ini. Perseroan telah memiliki 6 fasilitas manufaktur di Indonesia    with a total of 38 production lines where each can be calibrated to
dengan total 38 lini produksi yang masing-masing dapat dikalibrasi        produce a variety of pipes/tubes. Currently, the Company is in the
untuk menghasilkan berbagai jenis pipa. Saat ini Perseroan juga           midst of developing SPINDO operation unit on 1,000,000 sqm land in
tengah dalam proses pembangunan SPINDO di Gresik, Jawa Timur              Gresik, East Java.
diatas lahan 1,000,000 meter2.


Untuk pasar global, Perseroan telah secara rutin melakukan ekspor         In the global market, the Company has been regularly exporting its
produk pipa ke Amerika Serikat dan Kanada sejak tahun 2003. Selain        products to the United States of America and Canada since 2003. In
itu, sejumlah pasar potensial yang belum tersentuh mulai dikalkulasi      addition, several potential new markets have been analyzed for the
untuk dijadikan target pasar selanjutnya seperti Eropa dan Asia.          Company’s next export destinations such as Europe and Asia.




52                    Ikhtisar Utama                  Laporan Manajemen                 Profil Perusahaan         Analisa & Pembahasan Manajemen
 3                      Highlights                    Management Report                 Company Profile           Management Discussion & Analysis
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Laporan Tahunan 2024




                                                                                                     Kepemilikan efektif SPINDO per 31 Desember 2024
                                                                                                SPINDO’s effective ownership as of 31 December 2024

  Perusahaan                                                         Jenis Usaha                           Total Aset*                Status Operasi
  Company                                                            Type of Business                      Total Assets*              Operating Status

  Entitas Anak
  Subsidiaries

  PT SPINDO ENGINEERING INDUSTRY                                     Perdagangan,                                1.136                       Beroperasi
  Jl. Kalibutuh No. 189-191,                                         perindustrian dan jasa.                                                 Operating
  Surabaya 60173, Jawa Timur                                         Trades, industries and
  p : +6231 532 0320                                                 services.
  f : +6231 531 0712




  Perusahaan Asosiasi
  Associate Company

  PT SANKO STEEL INDONESIA                                           Industri suku cadang                      124.280                       Beroperasi
  Jl. Millenium Raya Blok I-2 No. 7, Cikupa, Tigaraksa,              dan aksesori                                                            Operating
  Tangerang, Banten                                                  kendaraan bermotor.
  p : +6221 626 0456                                                 Spare parts &
  f : +6221 624 0313                                                 accessories for
                                                                     motorized vehicle.




  PT POSES                                                           Perdagangan besar                                                       Tidak
  Jl. SA Tirtayasa No. 7, Rukan Mega Cilegon                         dan jasa purna jual.                                                    Beroperasi.
  Blok A, Rawanuju, Purwakarta, Cilegon, Banten.                     Large trading and after                                                 Not Operating
                                                                     sales services.


                                                                                                              *dalam jutaan Rupiah | in million Rupiahs




          Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan                  Referensi                     Laporan Keuangan                      53
          Corporate Governance           Corporate Social Responsibility                References                    Financial Statements                    3
Page 62
                                                                                                                               2024 Annual Report


     Sertifikasi | Certifications
     Jenis Sertifikasi | Type of Certification                                                                             Instansi Penerbit | Issuer
      Sertifikasi Internasional | International Certifications
     Activfire Fire Sprinkler and Hydrant Pipe (AFP-3723 ; AFP-3724 ; AFP-3725 ; AFP-3726)                                CSIRO (Australia)
     API Monogram License (5L-1143 ; 5L-0313 ; & 5L-1276)                                                                American Petrolium Institute (USA)
     CE Marks (946 38289-01)                                                                                             TÜV Rheinland
     FM 1630 Approval (3061718, PR454495)                                                                                FM Approvals (USA)
     IATF 16949 : 2016 Quality Management System (for Automotive ) (L9KXNY / 0526496)                                    SAI Global
     ISO 14001 : 2015 Environmental management systems (EMS41564)                                                        SAI Global
     ISO 45001 : 2018 Occupational health and safety management systems (OHS20915 & HSM41553)                            SAI Global
     ISO 9001 : 2015 Quality Management System (QEC21829)                                                                SAI Global
     ISO/IEC 17025 : 2017 Testing and calibration laboratories (LP-1379 IDN)                                             Komite Akreditasi Nasional
     Leadfree Safe Drinking Water Act NSF/ANSI/CAN 372-2020 (FILE NUMBER 13708)                                          IAPMO Research and Testing, Inc (USA)
     SIRIM MS 863 : 2010 (PC011951) & BS EN 10255: 2004 (PC011962)                                                       SIRIM QAS International SDN. BHD.
     Underwriter Laboratories / UL Marks 852 (EX 27615)                                                                  UL LLC


      Sertifikasi Nasional | National Certifications
     CIQS 2000 : 2018 Standar sistem mutu jaringan akses telekomunikasi (BSCIQS534505)                                   Telkom PCC
     Pengujian Jenis / Type Test SPLN D3.019-1:2012 9M/100daN (LKPP/0631/10114088/2024 (758.BTND.153A.2013-0631.2024))   PLN Pusertif
     Pengujian Jenis / Type Test SPLN D3.019-1:2012 9M/200daN (LKPP/0632/10114088/2024 (759.BTND.153A.2013-0632.2024))   PLN Pusertif
     Pengujian Jenis / Type Test SPLN D3.019-1:2012 11M/200daN (LKPP/0633/10114088/2024 (762.BTND.153A.2013-             PLN Pusertif
     0633.2024))
     Pengujian Jenis / Type Test SPLN D3.019-1:2012 12M/200daN (LKPP/0634/10114088/2024 (764.BTND.153A.2013-             PLN Pusertif
     0634.2024))
     Pengujian Jenis / Type Test SPLN D3.019-1:2012 13M/200daN (LKPP/0635/10114088/2024 (766.BTND.153A.2013-             PLN Pusertif
     0635.2024))
     Pengujian Jenis / Type Test SPLN D3.019-1:2020/SUP-1:2022 - 9M/200daN (LKPP/0387/10112197/2024)                     PLN Pusertif
     Pengujian Jenis / Type Test SPLN D3.019-1:2020/SUP-1:2022 - 9M/350daN (LKPP/0388/10112197/2024)                     PLN Pusertif
     Pengujian Jenis / Type Test SPLN D3.019-1:2020/SUP-1:2022 - 11M/200daN (LKPP/0389/10112197/2024)                    PLN Pusertif
     Pengujian Jenis / Type Test SPLN D3.019-1:2020/SUP-1:2022 - 12M/200daN (LKPP/0390/10112197/2024)                    PLN Pusertif
     QA TEST TELKOM T7 - STEL L-003-2021 VERSI 4.0 (Tel.233/TH-01/2021)                                                  PT Telekomunikasi Indonesia Tbk
     QA TEST TELKOM T7 2SEGMEN - STEL L-085-2022 VERSI 1.0 (Tel.237/TH-01/2022)                                          PT Telekomunikasi Indonesia Tbk
     QA TEST TELKOM T9 - STEL L-003-2021 VERSI 4.0 (Tel.232/TH-01/2021)                                                  PT Telekomunikasi Indonesia Tbk
     Sistem Manajemen K3 (PP 50 TAHUN 2012)                                                                              Kemenaker
     SPM SPLN D3.019-1:2012 TIANG SUTR 9M/100daN (26.367.079.05/SPM-LMK/24)                                              PLN Pusertif
     SPM SPLN D3.019-1:2012 TIANG SUTR/PENOPANG 9M/200daN (24.367.082.06/SPM-LMK/24)                                     PLN Pusertif
     SPM SPLN D3.019-1:2012 TIANG SUTR 11M/200daN (24.367.079.07/SPM-LMK/24)                                             PLN Pusertif
     SPM SPLN D3.019-1:2012 TIANG SUTM 12M/200daN (24.367.076.08/SPM-LMK/24)                                             PLN Pusertif
     SPM SPLN D3.019-1:2012 TIANG SUTM 13M/200daN (24.367.076.09/SPM-LMK/24)                                             PLN Pusertif
     SPM SPLN D3.019-1:2020/SUP-1:2022 TIANG SUTR 9M/200daN (24.367.079.01/SPM-LMK/24)                                   PLN Pusertif
     SPM SPLN D3.019-1:2020/SUP-1:2022 TIANG SUTR 9M/350daN (24.367.079.02/SPM-LMK/24)                                   PLN Pusertif
     SPM SPLN D3.019-1:2020/SUP-1:2022 TIANG SUTR 11M/200daN (24.367.079.03/SPM-LMK/24)                                  PLN Pusertif
     SPM SPLN D3.019-1:2020/SUP-1:2022 TIANG SUTM 12M/200daN (24.367.076.04/SPM-LMK/24)                                  PLN Pusertif
     SPPT SNI - SNI 0039 : 2013 (310/S/EX/B/V.3/2015)                                                                    BSI KEMENPERIN
     SPPT SNI - SNI 0039 : 2013 (311/S/RV/B/V.4/2015)                                                                    BSI KEMENPERIN
     SPPT SNI - SNI 0039 : 2013 (364/W/RE/B/X.10/2016)                                                                   BSI KEMENPERIN
     SPPT SNI - SNI 0039 : 2013 (385/W/RE/B/X/2017)                                                                      BSI KEMENPERIN
     SPPT SNI - SNI 0068 : 2013 (386/S/RE/B/X/2017)                                                                      BSI KEMENPERIN
     SPPT SNI - SNI 0068 : 2013 (61/S/RV/B/II/2017)                                                                      BSI KEMENPERIN
     SPPT SNI - SNI 05-0069-1987 (366/S/RE/B/X.10/2016)                                                                  BSI KEMENPERIN
     SPPT SNI - SNI 05-0069-1987 (389/S/RE/B/X/2017)                                                                     BSI KEMENPERIN
     SPPT SNI - SNI 07-0067-1987 (365/S/RE/B/X.10/2016)                                                                  BSI KEMENPERIN
     SPPT SNI - SNI 07-0067-1987 (384/S/RE/B/X/2017)                                                                     BSI KEMENPERIN
     SPPT SNI - SNI 07-0537-1989 (189/S/RV/B/VI.4/2016)                                                                  BSI KEMENPERIN
     SPPT SNI - SNI 07-0537-1989 (233/S/RE/VI.6/2014)                                                                    BSI KEMENPERIN
     SPPT SNI - SNI 07-2658-1992 (390/S/RE/B/X/2017)                                                                     BSPJI KEMENPERIN
     SPPT SNI - SNI 7033 : 2020 (622210093)                                                                              PT IAPMO Group Indonesia
     SPPT SNI - SNI 8052 : 2014 (124/S/EX/B/IV.3/2016)                                                                   BSI KEMENPERIN
     SPPT SNI - SNI 8052 : 2014 (244/S/EX/B/VII.4/2016)                                                                  BSI KEMENPERIN




54                           Ikhtisar Utama                       Laporan Manajemen               Profil Perusahaan             Analisa & Pembahasan Manajemen
 3                             Highlights                         Management Report               Company Profile               Management Discussion & Analysis
Page 63
Laporan Tahunan 2024



  Type of Certification | Jenis Sertifikasi                                                                                 Issuer | Instansi Penerbit
  TDKN COATING SPIRAL PIPE :
  external 3lpe a252; external epoxy a252; external epoxy AWWA C200; Internal epoxy AWWA C200; external 3lpe & internal
  cement lining AWWA C200; Internal cement lining AWWA C200; external&internal epoxy AWWA C200; external epoxy & internal Kemenperin (Via Surveyor Indonesia)
  cement lining AWWA C200
  (9194/SJ-IND.8/TKDN/10/2023)
  TKDN API 5L ERW-GR A PSL 1 (10316/SJ-IND.8/E-TKDN/9/2024)                                                                Kemenperin (Via Surveyor Indonesia)
  TKDN API 5L ERW-GR B PSL1 (10313/SJ-IND.8/E-TKDN/9/2024)                                                                 Kemenperin (Via Surveyor Indonesia)
  TKDN API 5L ERW-GR BM PSL 2 (10312/SJ-IND.8/E-TKDN/9/2024)                                                               Kemenperin (Via Surveyor Indonesia)
  TKDN API 5L SPIRAL-GR B PSL 1 (10672/SJ-IND.8/E-TKDN/10/2024)                                                            Kemenperin (Via Surveyor Indonesia)
  TKDN API 5L SPIRAL-GR BM PSL 2 (10673/SJ-IND.8/E-TKDN/10/2024)                                                           Kemenperin (Via Surveyor Indonesia)
  TKDN API 5L SPIRAL-GR X42M PSL 2 (10674/SJ-IND.8/E-TKDN/10/2024)                                                         Kemenperin (Via Surveyor Indonesia)
  TKDN API 5L SPIRAL-GR X52M PSL 2 (12052/SJ-IND.8/E-TKDN/10/2024)                                                         Kemenperin (Via Surveyor Indonesia)
  TKDN API 5L SPIRAL-GR X65M PSL 2 (12054/SJ-IND.8/E-TKDN/10/2024)                                                         Kemenperin (Via Surveyor Indonesia)
  TKDN ASTM A252 ERW (10315/SJ-IND.8/E-TKDN/9/2024)                                                                        Kemenperin (Via Surveyor Indonesia)
  TKDN ASTM A252 Gr. 2 SPIRAL (9417/SJ-IND.8/E-TKDN/9/2024)                                                                Kemenperin (Via Surveyor Indonesia)
  TKDN ASTM A252 Gr. 3 SPIRAL (9418/SJ-IND.8/E-TKDN/9/2024)                                                                Kemenperin (Via Surveyor Indonesia)
  TKDN ASTM A53 ERW (8165/SJ-IND.8/TKDN/12/2022)                                                                           Kemenperin (Via Surveyor Indonesia)
  TKDN AWWA C200 SPIRAL (9193/SJ-IND.8/TKDN/10/2023)                                                                       Kemenperin (Via Surveyor Indonesia)
  TKDN Coating ERW 3-Layer Polyethylene (3LPE) PSL 1
  TKDN Coating ERW 3-Layer Polyethylene (3LPE) PSL 2                                                                       Kemenperin (Via Surveyor Indonesia)
  TKDN Coating ERW 3-Layer Polyethylene (3LPE) & Internal Epoxy PSL 1
  TKDN Coating ERW 3-Layer Polyethylene (3LPE) & Internal Epoxy PSL 2
  (5437/SJ-IND.8/TKDN/10/2022)
  TKDN Coating Spiral 3-Layer Polyethylene (3LPE) & Internal Coating Epoxy PSL 1
  TKDN Coating Spiral 3-Layer Polyethylene (3LPE) & Internal Coating Epoxy PSL 2                                           Kemenperin (Via Surveyor Indonesia)
  TKDN Coating Spiral Coating Epoxy Internal dan Eksternal PSL 1
  TKDN Coating Spiral Coating Epoxy Internal dan Eksternal PSL 2
  (5436/SJ-IND.8/TKDN/10/2022)
  TKDN Coating Spiral 3LPE PSL 1 (2691/SJ.IND.8/TKDN/7/2022)                                                               Kemenperin (Via Surveyor Indonesia)
  TKDN Coating Spiral 3LPE PSL 2 (2692/SJ.IND.8/TKDN/7/2022)                                                               Kemenperin (Via Surveyor Indonesia)
  TKDN Coating Spiral Fusion Bonded Epoxy (FBE) PSL 1 (2693/SJ.IND.8/TKDN/7/2022)                                          Kemenperin (Via Surveyor Indonesia)
  TKDN Coating Spiral Fusion Bonded Epoxy (FBE) PSL 2 (2694/SJ.IND.8/TKDN/7/2022)                                          Kemenperin (Via Surveyor Indonesia)
  TKDN JIS A5525 SPIRAL (9192/SJ-IND.8/TKDN/10/2023)                                                                       Kemenperin (Via Surveyor Indonesia)
  TKDN Pipa ERW Pancang SNI 8052 kelas 1,2&3 (1546/SJ-IND.8/TKDN/2/2023)                                                   Kemenperin (Via Surveyor Indonesia)
  TKDN Pipa Spiral Pancang SNI 8052 kelas 2&3 (2708/SJ-IND.8/TKDN/3/2023)                                                  Kemenperin (Via Surveyor Indonesia)
  TKDN SNI 0039 ERW (3838/SJ-IND.8/TKDN/4/2023)                                                                            Kemenperin (Via Surveyor Indonesia)
  TKDN SNI 0039 SPIRAL (10263/SJ-IND.8/TKDN/11/2023)                                                                       Kemenperin (Via Surveyor Indonesia)
  TKDN SPLN D3 GALVANIS (1689/SJ-IND.8/TKDN/2/2023)                                                                        Kemenperin (Via Surveyor Indonesia)
  TKDN STKM 11A (5438/SJ-IND.8/TKDN/10/2022)                                                                               Kemenperin (Via Surveyor Indonesia)
  TKDN SPLN D3.019-1:2012 SUTR 9M/100daN (10778/SJ-IND.8/E-TKDN/10/2024)                                                   Kemenperin (Via Surveyor Indonesia)
  TKDN SPLN D3.019-1:2012 SUTR 9M/200daN (10779/SJ-IND.8/E-TKDN/10/2024)                                                   Kemenperin (Via Surveyor Indonesia)
  TKDN SPLN D3.019-1:2012 SUTR 11M/200daN (10780/SJ-IND.8/E-TKDN/10/2024)                                                  Kemenperin (Via Surveyor Indonesia)
  TKDN SPLN D3.019-1:2012 SUTR 12M/200daN (10781/SJ-IND.8/E-TKDN/10/2024)                                                  Kemenperin (Via Surveyor Indonesia)
  TKDN SPLN D3.019-1:2012 SUTR 13M/200daN (10774/SJ-IND.8/E-TKDN/10/2024)                                                  Kemenperin (Via Surveyor Indonesia)
  TKDN PIPA STAINLESS SCH40S 5-8 INCH SUS304TP/TP304/TP304L (4242/SJ-IND.8/E-TKDN/6/2024)                                  Kemenperin (Via Surveyor Indonesia)
  TKDN PIPA STAINLESS SCH40S 1/2-4 INCH SUS304TP/BJ S 304/TP304/TP304L (4243/SJ-IND.8/E-TKDN/6/2024)                       Kemenperin (Via Surveyor Indonesia)
  TKDN PIPA STAINLESS SCH20S 5-8 INCH SUS304TP (6548/SJ-IND.8/E-TKDN/8/2024)                                               Kemenperin (Via Surveyor Indonesia)
  TKDN PIPA STAINLESS SCH20S 1/2-4 INCH SUS304TP/BJ S 304 (7340/SJ-IND.8/E-TKDN/8/2024)                                    Kemenperin (Via Surveyor Indonesia)
  TKDN PIPA STAINLESS SCH10S 5-8 INCH SUS304TP/TP304/TP304L (7415/SJ-IND.8/E-TKDN/9/2024)                                  Kemenperin (Via Surveyor Indonesia)
  TKDN PIPA STAINLESS SCH10S 1/2-4 INCH SUS304TP/BJ S 304/TP304/TP304L (7416/SJ-IND.8/E-TKDN/9/2024)                       Kemenperin (Via Surveyor Indonesia)
  TKDN PIPA ERW API 5L GR B PSL1 Dia 1/2" - 3" PLANT 5 (5876/SJ-IND.8/E-TKDN/7/2024)                                       Kemenperin (Via Surveyor Indonesia)
  TKDN PIPA ERW API 5L API 5L GR X42M PSL2 Dia 1/2" - 3" PLANT 5 (5872/SJ-IND.8/E-TKDN/7/2024)                             Kemenperin (Via Surveyor Indonesia)
  TKDN PIPA ERW ASTM A53 SCH 40 Dia 1/2" - 3" PLANT 5 (5906/SJ-IND.8/E-TKDN/7/2024)                                        Kemenperin (Via Surveyor Indonesia)
  TKDN PIPA ERW ASTM A53 SCH 80 Dia 1/2" - 3" PLANT 5 (5907/SJ-IND.8/E-TKDN/7/2024)                                        Kemenperin (Via Surveyor Indonesia)
  TKDN SLOTTED STEEL TUBE OD 39,0 MM (18089/SJ-IND.8/E-TKDN/12/2024)                                                       Kemenperin (Via Surveyor Indonesia)
  TKDN SLOTTED STEEL TUBE OD 33,0 MM (18090/SJ-IND.8/E-TKDN/12/2024)                                                       Kemenperin (Via BSPJI Surabaya)
  TKDN SLOTTED STEEL TUBE OD 42,0 MM (18092/SJ-IND.8/E-TKDN/12/2024)                                                       Kemenperin (Via BSPJI Surabaya)
  TKDN SLOTTED STEEL TUBE OD 47,0 MM (18093/SJ-IND.8/E-TKDN/12/2024)                                                       Kemenperin (Via BSPJI Surabaya)
  STANDAR INDUSTRI HIJAU (SIH 24103.02.2024) INDUSTRI PIPA BAJA ELECTRIC RESISTANCE WELDING NON OTOMATIF                   LSIH BSPJI SURABAYA
           Tata Kelola Perusahaan             Tanggung Jawab Sosial Perusahaan                Referensi                       Laporan Keuangan                   55
           Corporate Governance                 Corporate Social Responsibility              References                      Financial Statements                 3
Page 64
                                                                                                                                     2024 Annual Report




Wilayah Operasi | Areas of Operation
Wilayah operasi SPINDO telah menjangkau berbagai pelosok tanah                      SPINDO's operational area has reached various corners of the
air dengan pembangunan store dan stockist di beberapa daerah.                       country by building stores and stockists in several areas. A number
Sejumlah lokasi produksi yang berdekatan dengan jalur distribusi                    of production locations that are close to port distribution channels
pelabuhan memudahkan pengiriman barang ke wilayah timur                             facilitate the delivery of goods to eastern Indonesia. The company
Indonesia. Perseroan berupaya menjangkau hingga ke berbagai                         seeks to reach various remote areas of Indonesia.
wilayah Indonesia yang terpencil.



                                                                Representative
                                                                    Office
                                                               PEKANBARU
                                            MEDAN




                                                                                    PONTIANAK
                                                                                                                                     BALIKPAPAN

                                                                                                                          SPINDO
                                        PADANG           PALEMBANG                                                        GRESIK
                                                                                          Representative

                                 SPINDO
                                JAKARTA
                                                                                              Office
                                                                                         SEMARANG
                                                                                                                      unit
                                                                                                                             7
                                                                                                                          Store &
                                                              LAMPUNG                                                     Stockist       BANJARMASIN
                                      Store &
                                      Stockist


                                                               SPINDO
                                                             KARAWANG                                                                    MATARAM
                                                             unit
                                                                    5                                                                      DENPASAR


                                                  SPINDO                                                                                SPINDO
                                                 BANDUNG                                                                               SIDOARJO

                                                  Store &
                                                  Stockist
                                                                                                                                       unit
                                                                                                                                              6
                                                                                                                                         Store &
                                                                       SPINDO                                                            Stockist
                                                                      PASURUAN
                                                                      unit
                                                                             4
                                                                         Store &
                                                                                                               SPINDO
                                                                         Stockist                             SURABAYA
                                                                                                            unit
                                                                                                                     1       unit
                                                                                                                                     2
                                                                                                                   unit
                                                                                                                          3
56                   Ikhtisar Utama                          Laporan Manajemen                    Profil Perusahaan                   Analisa & Pembahasan Manajemen
 3                     Highlights                            Management Report                    Company Profile                     Management Discussion & Analysis
Page 65
Laporan Tahunan 2024




                                                                                    CANADA

                                                                                                Export
                                                                                                                                                    VIETNAM

                                                                                                                           MALAYSIA




                                                                                                                                                     TIMOR LESTE


                                      SAMARINDA

                                         Store &                                    AMERICA
                                         Stockist


                                                                                                                                            AUSTRALIA




                                            MANADO
                                                                                    SORONG

                                                                                                                     JAYAPURA




                                                                 AMBON



                                    MAKASSAR
                                     Store &
                                     Stockist




  HFW                                                                     SSAW                                             TIG
   Fasilitas produksi oleh pabrik :                                       Fasilitas produksi oleh pabrik :                 Fasilitas produksi oleh pabrik :
   Manufacturing facilities by plants :                                   Manufacturing facilities by plants :             Manufacturing facilities by plants :
   Unit 1 | Unit 2 | Unit 3 | Unit 4 | Unit 5 | Unit 6 |                  Unit 4                                           Unit 2


   Black pipes, API pipes              Digunakan untuk                    Spiral pipes     Digunakan untuk                 Pipa Stainless Steel
   water pipes, mechanical             konstruksi, jalur pipa air,        (API & Non       konstruksi, tiang pancang,      Industri & Ornamen.
   pipes, furniture pipes,             jalur pipa minyak & gas,           API pipes)       pipa utilitas, perpipaan air,   Digunakan sebagai
   steel poles.                        pipa otomotif, furnitur,                            transmisi/distribusi minyak     furnitur, rangka,
                                       dan sebagainya.                                     & gas, dan sebagainya.          industri gula, perpipaan,
                                                                                                                           dan sebagainya.


                                       Used in construction,                               Used in construction,           Industrial & ornament
                                       water pipeline, oil and                             piling, utilities, water        Stainless Steel pipes.
                                       gas pipeline, auto,                                 pipeline, transmission/         Used in furniture, frame,
                                       furniture, etc.                                     distribution oil & gas, etc.    chemical / sugar mill, piping, etc


           Tata Kelola Perusahaan               Tanggung Jawab Sosial Perusahaan                 Referensi                    Laporan Keuangan                  57
           Corporate Governance                   Corporate Social Responsibility               References                   Financial Statements                3
Page 66
                                                                                                                  2024 Annual Report




Informasi Pabrik | Plant Information




     SPINDO - Surabaya                    Rungkut Industri I No. 28 - 32,                               Production facilities:
                                          Surabaya 60292,                                           4   HFW (Diameter : ½” - 8”)

                                          East Java                                                     Services Facilities :
        unit
               1                          Land Area:                                                2
                                                                                                    2
                                                                                                        Galvanizing
                                                                                                        Slitting
                                          30,131 m² Established in 1978                             2   Shearing
                                                                                                    1   Laser Cutting (2 axis)
                                                                                                        Recutting




     SPINDO - Surabaya
                                          Rungkut Industri II No. 10,                            Production facilities:
                                          Surabaya 60292,                                      1 HFW (Diameter : 1” - 3”)
                                                                                               7 TIG (Diameter : ¼” - 8”)
                                          East Java
        unit
               2                          Land Area:                                             Services Facilities:
                                                                                               2 Slitting
                                          15,280 m² Established in 1982                        1 Induction Annealing Offline
                                                                                               1 Laser Cutting (4 axis)




58                       Ikhtisar Utama                      Laporan Manajemen   Profil Perusahaan                 Analisa & Pembahasan Manajemen
 3                         Highlights                        Management Report   Company Profile                   Management Discussion & Analysis
Page 67
Laporan Tahunan 2024




      Ds. Warugunung, Karangpilang,                                      Production facilities:                            SPINDO - Surabaya
      Surabaya 60221,                                                3   HFW (Diameter : ½” - 8”)

      East Java                                                          Services Facilities:
      Land Area:                                                     1
                                                                     2
                                                                         Galvanizing
                                                                         Slitting
                                                                                                                                unit
                                                                                                                                       3
      29,800 m² Established in 1971




                                                       Production facilities:                                              SPINDO - Pasuruan
      Jl. Kabupaten,
                                                 4     SSAW (Diameter : 6” - 125”)
      Ds. Cangkringmalang,
      Beji, Pasuruan,
                                                       Services Facilities:
      East Java
      Land Area:
                                                       Steel Coating
                                                          3-Layer Polyethylene Coating
                                                                                                                                unit
                                                                                                                                       4
                                                          Cement Lining; Epoxy Internal Coating
      143,257 m²                                          Epoxy External Coating
                                                       Shearing
      Established in 1992                        1     Accesories Fabrication
                                                       (Elbow, Concentric Reducer, Excentric Reducer, Tee,
                                                       Lateral, Y-Branch, Bifurcation)


        Tata Kelola Perusahaan   Tanggung Jawab Sosial Perusahaan                Referensi                Laporan Keuangan                 59
        Corporate Governance       Corporate Social Responsibility              References               Financial Statements               3
Page 68
                                                                                                         2024 Annual Report




     SPINDO - Karawang            Kawasan Industri Mitrakarawang                    Production facilities:
                                  Jl. Mitra Raya 2 Blok F2,                    1    HFW Heavy Gauge Carbon Steel
                                  Ds. Parungmulya,                                  (D : 1” - 2½”) Thickness 2.50mm - 6.50mm
                                  Karawang 41361,                              7    HFW Carbon Steel (D : ½” - 4”)
        unit
               5                  West Java
                                                                               1    HFW SS (D : 1” - 2½”)

                                                                                    Services Facilities:
                                  Land Area:
                                                                               2    Slitting
                                  50,000 m² Established in 2005                1    Laser Cutting (4 axis)
                                                                                    Recutting




     SPINDO - Sidoarjo            Jl. Pahlawan No. 10,                              Production facilities:
                                  Cemengkalang, Sidoarjo,                     9     HFW (D : 3/8” - 3”)

                                  East Java                                         Services Facilities:
        unit
               6                  Land Area:

                                  40,330 m² Established in 2013
                                                                              1
                                                                              1
                                                                                    Epoxy Coating
                                                                                    Shearing
                                                                              1     Slitting
                                                                                    Recutting
                                                                                    General Fabrication




60                       Ikhtisar Utama                Laporan Manajemen   Profil Perusahaan              Analisa & Pembahasan Manajemen
 3                         Highlights                  Management Report   Company Profile                Management Discussion & Analysis
Page 69
Laporan Tahunan 2024




  Informasi Kantor Perwakilan, Depo & Lainnya | Representative Office, Depot & Other Information




  SPINDO Pekanbaru                             SPINDO Semarang                                    Ongoing Project                                   SPINDO - Gresik
  Representative Office                        Representative Office



                                                                                                                                                             7
  Graha Pena Riau Lt. 7 - R705,                Genius Idea @ Dafam Space                          Jl. Raya Daendels Km 49,
                                                                                                                                                      unit
  Jl. HR. Soebrantas Panam Km. 10,5            Menara Suara Merdeka, Lt 11 - R9,                  Desa Wadeng, Gresik, East Java.
  Sidomulyo Barat, Tuah Karya,                 Jl. Pandanaran No.30, Pekunden,                    Land Use Permit: 400 ha
  Kec. Tampan, Pekanbaru,                      Kec. Semarang Tengah, Semarang,                    Production: up to 16” est. 2023
  Riau 28294, Indonesia.                       Central Java 50134, Indonesia.




  SPINDO Jakarta Barat                                         SPINDO Bandung                                             SPINDO Samarinda
  Depot                                                        Depot                                                      Depot

  Kawasan Pergudangan Semanan Megah                            Bizpark Commercial Estate                                  Mangkupalas Business Center
  Kav. 7 Blok B No. 1, Jl. Daan Mogot Km 18,                   Jl. Kopo 455 Blok B1 No. 26A,                              Pergudangan E10-11, F9-10,
  Kalideres, West Jakarta.                                     Bandung 40277, West Java.                                  Samarinda, East Kalimantan.
  Land Area: 2,150 m²                                          Land Area: 1,746 m²                                        Land Area: 2,652 m²




  SPINDO Pasuruan                                SPINDO Sidoarjo                            SPINDO Makassar                              SPINDO Gresik
  Depot                                          Depot                                      Depot                                        Depot

  Jl. Kabupaten,                                 Jl. Pahlawan No. 10,                       Jl. IR Sutami,                               Jl. Raya Daendels Km 49,
  Ds. Cangkringmalang, Beji,                     Sidoarjo, East Java.                       Makassar, South Sulawesi.                    Desa Wadeng, Gresik
  Pasuruan, East Java.                                                                      Land Area: 6,057 m²                          East Java.
  Land Area: 2,268 m²                                                                                                                    Land Area: 8,600 m²



           Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan                  Referensi                         Laporan Keuangan                   61
           Corporate Governance             Corporate Social Responsibility                References                        Financial Statements                 3
Page 70
                                                                                                                         2024 Annual Report



Struktur Organisasi
Organizational Structure
                                                                                             Rapat Umum
                                                                                           Pemegang Saham



                                                                                           Board of Commissioner

                                                                                           Makmur Widjaja
                                                                          President Commissioner | Independent Commissioner

                                                                                   Entario Widjaja Susanto
                                                                                                Commissioner

                                                                                      Bing H. Poernomosidi
                                                                                       Independent Commissioner

                                                                                             Welly Tantono
                                                                                       Independent Commissioner




                                                                                              Ibnu Susanto
                                                                                              President Director

                         Johanes W. Edward
              Chief Strategy & Business Development Officer
                 Corporate Secretary & Investor Relation

                                                                                   Tedja Sukmana Hudianto
                                                                                           Vice President Director




                                                                                   Soediarto Soerjoprahono
                                                                                                    Director




                                                               Lita Mutiah Hudianto                                       Vacant
                                                                   Deputy Director Sales                           Deputy Director Marketing




                                                                                                                            Taufik Surya
                                                                                                                              SKF Div. Head




        Teddy W. Utomo              Tedja S. Hudianto            Edy Lemena A                  Dianawati T.             Alexander Arianto
         Purchasing Technical            Purchasing              Purchasing Office         Finance and Accounting           SKF Manufacture
        & Spare Part Div. Head      Raw Material Div. Head      Equipment Div. Head               Div. Head                    Div. Head




62                 Ikhtisar Utama                   Laporan Manajemen                      Profil Perusahaan              Analisa & Pembahasan Manajemen
 3                   Highlights                     Management Report                      Company Profile                Management Discussion & Analysis
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Laporan Tahunan 2024




                                                      Audit Committee



                                                 Welly Tantono
                                               Antonius I Karamoy
                                               Yoshinori Nishimoto




                                                    Teguh Santoso
                                                         Internal Audit




                         Nico Gunawan                                                                                       The, Hanny Purnomo
                                   Director                                                                                               Director




                                                                    Hardiman Utomo               Budi Dwi Santoso
                                                                     SPINDO Jakarta Office                  HRD & GA
                                                                       General Manager                      Div. Head




   Nico Gunawan I Ketut Ardana Dody Hermawan Teguh Waskito Teguh Waskito                                                Dely Thio            Steven P. Utomo
    Plant 1, 2, & 6                 Plant 3                Plant 4                   HSE                   QA / QC        PPIC                           IT
      Div. Head                    Div. Head              Div. Head                Div Head                Div.Head     Div. Head                    Div. Head




          Tata Kelola Perusahaan               Tanggung Jawab Sosial Perusahaan                Referensi                   Laporan Keuangan                      63
          Corporate Governance                   Corporate Social Responsibility              References                  Financial Statements                    3
Page 72
                                                                                                                     2024 Annual Report



Manajemen Modal Manusia
Human Capital Management

Perseroan yang telah beroperasi selama lebih dari 5 dekade telah          Since its inception more than five decades ago, the Company has
mengembangkan pengelolaan sumber daya manusia menjadi                     transformed their human resource management into a 'Human
Manajemen Modal Manusia yang menekankan pada investasi                    Capital Management'. This strategy emphasizes the Company's
perusahaan untuk menambah nilai kepada karyawan melalui                   investment in the human capital by delivering added value to
motivasi, komitmen, kompetensi, serta efektivitas kerja tim.              employees and elevating their level of motivation, commitment,
                                                                          competence, and teamwork effectiveness.


Perseroan memandang karyawan sebagai aset yang dapat diperkaya            Employees are regarded as valuable assets that benefit the company
dan memberikan keuntungan bagi perusahaan dalam jangka                    in the short and long run and therefore need to be continually
panjang. Investasi pada pengembangan manusia, misalnya melalui            empowered and enriched. For the Company, any investment in the
pelatihan profesional, dapat meningkatkan kepuasan kerja yang lebih       human development, particularly through continuous professional
besar bagi karyawan.                                                      training and education programs, can lead to a greater employee
                                                                          satisfaction.


Setiap karyawan memiliki kesempatan yang sama dan setara untuk            Employees at SPINDO have the same and equal opportunity to
mengembangkan karir mereka. Perseroan tidak pernah menjadikan             develop their career. SPINDO's system of employing and promoting is
latar belakang suku, agama, ras, gender maupun hal lain yang bersifat     solely on the basis of competence and ability regardless of ethnicity,
diskriminatif dalam menentukan penempatan karyawan pada posisi            religion, race, gender or other discriminatory attributes. In alignment
jabatan tertentu. Perseroan juga mendukung budaya yang                    with the policy, the Company fosters a corporate culture that
mengedepankan keberagaman dan menghargai tiap kontribusi                  celebrates diversity and values contributions of all employees
seluruh karyawan.                                                         irrespective of their ethnic, cultural or religious backgrounds.




Rekrutmen | Recruitment
Program rekrutmen Perseroan yang sangat terfokus dan proaktif,            The Company's highly focused and proactive recruitment program is
yang dirancang bukan hanya untuk menarik bakat terbaik di semua           designed not only to attract best talents to be positioned at all levels of
tingkatan organisasi, tetapi juga untuk mengidentifikasi talenta-          the organization, but also to identify talents with the potential to be
talenta yang berpotensi dipromosikan untuk naik jabatan untuk             promoted and fill key positions. We believe that employees who have
mengisi posisi-posisi penting. Kami percaya bahwa karyawan yang           clear career goals are more likely to stay with the Company. In return,
telah memiliki tujuan karier yang jelas akan cenderung memilih untuk      the Company is committed to creating opportunities to develop their
tetap bersama Perseroan. Perseroan menawarkan peluang                     potential and offering competitive remuneration packages.
pengembangan potensi mereka dan memberikan paket remunerasi
yang kompetitif.                                                          The Company's human resources (HR) recruitment strategy includes
                                                                          the following:
Strategi pemenuhan SDM yang diterapkan Perseroan mencakup:                Ÿ   Paper Screening
Ÿ    Paper Screening                                                      Ÿ   Psychological test
Ÿ    Psikotes                                                             Ÿ   User Interview
Ÿ    User Interview                                                       Ÿ   Medical Check Up
Ÿ    Medical Check Up                                                     Ÿ   Signing Agreement
Ÿ    Signing Agreement.




64                      Ikhtisar Utama                Laporan Manajemen                   Profil Perusahaan           Analisa & Pembahasan Manajemen
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Laporan Tahunan 2024




  Manajemen Karir | Career Management

  Sejalan dengan sistem pengembangan SDM berbasis kompetensi,                              SPINDO has prepared a comprehensive career management system
  Perseroan juga telah menyiapkan sistem manajemen karir yang lebih                        that is in compliance with the competency-based HR development
  komprehensif. Manajemen karir ditujukan untuk memberi peluang                            system. Such a career management system is devised to give
  kepada karyawan dalam mengembangkan dirinya selaras dengan                               employees opportunities to develop skills and acquire the technical
  kebutuhan posisi dalam perseroan dan dapat memberikan arah                               and professional competence for their respective positions as
  pergerakan karir karyawan sesuai potensinya. Bagi karyawan, karir                        required by the Company. The approach can also provide employee
  merupakan indikator proses pengembangan diri, dan bagi perseroan                         directions for career advancement according to their potential. For
  menggambarkan posisi-posisi yang diperlukan dalam rangka                                 employees, career can be indicative of a self-development process,
  pencapaian tujuan Perseroan.                                                             and for the Company it can describe positions that are needed in order
                                                                                           to achieve the Company's goals.
  Untuk mengurangi dampak turn over yang tinggi kami menggunakan
  teknik ini untuk mengetahui indikasi awal ketidakpuasan karyawan                         Furthermore, to avoid a high employee turnover and reduce its
  yang dapat mengakibatkan mereka meninggalkan Perseroan. Kami                             impact, we implement the procedure so as to identify early indications
  ke m u d i a n d a p a t m e l a k u k a n t i n d a k a n u n t u k m e n g a t a s i   of employee dissatisfaction that may lead to them leaving the
  ke t i d a k p u a s a n i n i u n t u k m e n c e g a h ka r ya wa n t e rs e b u t     Company. We can accordingly take action to address such
  mengundurkan diri dari Perseroan. Strategi ini telah berkontribusi                       dissatisfaction and prevent employees from resigning. This strategy
  pada tingkat pengunduran diri karyawan yang lebih rendah dari rata-                      has contributed to a lower employee turnover rate than the market
  rata pasar.                                                                              average.




  Remunerasi | Remuneration
  Penerapan remunerasi yang baik akan mampu memotivasi kerja                               Implementation of good remuneration will be able to motivate
  karyawan, meningkatkan kinerja individu, mempertahankan pegawai                          employees' work, improve individual performance, retain competent
  yang kompeten, efisiensi biaya operasional serta sebagai competitive                      employees, operational cost efficiency as well as a competitive
  advantage bagi Perseroan. Berikut struktur remunerasi Perseroan                          advantage for the company. The following is the Company's
  yang diterima untuk:                                                                     remuneration structure received for:

     Manajer ke atas                            Manager and above                            Staf dan Non-Staf                    Staff and Non staff
     Gaji Pokok                                 Basic Salary                                 Gaji Pokok                           Basic Salary
     Tunjangan Jabatan                          Functional Allowance                         Tunjangan Jabatan                    Functional Allowance
     Tunjangan Hari Raya (THR)                  Religious Festivity Allowance                Tunjangan Hari Raya (THR)            Religious Festivity Allowance
     Bonus                                      Bonus                                        Bonus                                Bonus
     Tunjangan Kesehatan                        Healthcare Allowance                         BPJS Kesehatan                       Healthcare Security - BPJS
     BPJS Kesehatan                             Healthcare Security - BPJS                                                        Kesehatan
                                                Kesehatan                                    BPJS Ketenagakerjaan                 Manpower Security - BPJS
     BPJS Ketenagakerjaan                       Manpower Security - BPJS                                                          Ketenagakerjaan
                                                Ketenagakerjaan                              Tunjangan Transportasi               Transport Allowance
     Tunjangan Transportasi                     Transport Allowance                          Tunjangan Perjalanan Dinas           Travel Allowance
     Tunjangan Perjalanan Dinas                 Travel Allowance                             Program Pensiun                      Retirement Fund
     Car Loan                                   Car Loan                                     Fasilitas Koperasi                   Saving & Loan Facility
     Program Pensiun                            Retirement Fund                              Bantuan Sosial                       Social Assistance
     Fasilitas Koperasi                         Saving & Loan Facility
     Bantuan Sosial                             Social Assistance

            Tata Kelola Perusahaan              Tanggung Jawab Sosial Perusahaan                 Referensi                     Laporan Keuangan                   65
            Corporate Governance                  Corporate Social Responsibility               References                    Financial Statements                 3
Page 74
                                                                                                                     2024 Annual Report




Kesejahteraan Karyawan | Employee Welfare
Kesejahteraan karyawan menjadi salah satu perhatian utama                   Employee welfare is one of the Company's main concerns in the effort
Perseroan agar karyawan dapat merasa aman dan nyaman dalam                  to not only make employees feel safe and comfortable in the
bekerja, sehingga dapat bekerja dengan motivasi yang lebih baik,            workplace but also allow them to maintain and work with a high level
yang pada akhirnya akan meningkatkan prestasi dan produktivitas             of motivation. This can in turn increase employee's work performance
kerja. Perseroan selalu berusaha memenuhi ketentuan-ketentuan               and productivity. To that end, the Company always strives to comply
Pemerintah yang berhubungan dengan kesejahteraan karyawan                   with Government regulations regarding employee welfare and
berupa penyesuaian besarnya gaji yang sejalan dengan laju inflasi            especially salary structure and increase. These measures are
serta memenuhi standar Upah Minimum Kabupaten / Kota (UMK)                  implemented in terms of the fluctuating rate of inflation and in
bagi karyawannya sesuai dengan ketentuan Kementerian                        compliance with the Regency/City Minimum Wage (UMK) standards
Ketenagakerjaan.                                                            as specified in the Ministry of Manpower's regulations.


Disamping itu, Perseroan juga menyediakan berbagai fasilitas dan            Moreover, the Company provides other facilities and benefits that
tunjangan lain, seperti:                                                    include the following:
Ÿ    Tunjangan kesehatan, diberikan berdasarkan level dan lama              Ÿ   Health benefits, provided on the basis of the level and length of
     bekerja dari masing-masing karyawan                                        service of employee
Ÿ    Tunjangan pensiun, diberikan kepada karyawan yang telah                Ÿ   Retirement allowance, provided to employees who have worked
     bekerja selama 25 tahun atau lebih dan telah mencapai usia                 for 25 years or more and have reached a retirement age (55 years
     pensiun (55 tahun)                                                         old)
Ÿ    Tunjangan uang makan dan uang transport                                Ÿ   Meal and transport allowances
Ÿ    Tunjangan alat komunikasi, untuk divisi tertentu                       Ÿ   Communication equipment allowance for several divisions
Ÿ    Tunjangan cuti selama 12 hari kerja                                    Ÿ   12-working day leave allowance
Ÿ    Tunjangan cuti selama 3 bulan untuk karyawati yang melahirkan          Ÿ   3-month maternity leave allowance
Ÿ    Tunjangan cuti untuk kejadian khusus seperti kematian, sunatan,        Ÿ   Leave allowances for special events such as death, circumcision,
     pembaptisan, wisuda, kelahiran, dan lain sebagainya untuk                  baptism, graduation, birth, etc. as stipulated in the Collective
     karyawan yang diatur dalam Perjanjian Kerja Bersama (PKB).                 Labor Agreement (CLA).


Selain fasilitas dan tunjangan yang telah disebutkan di atas,               In addition to the facilities and benefits mentioned above, the
Perseroan juga mendaftarkan seluruh karyawan pada BPJS                      Company registers all employees with BPJS Employment (formerly
Ketenagakerjaan (d/h Jamsostek) serta BPJS Kesehatan, guna                  Jamsostek) and BPJS Health, in order to anticipate unexpected events
mengantisipasi kejadian tak terduga yang dialami karyawan pada              or incidents in the workplace.
saat melaksanakan pekerjaannya.




Keberagaman | Diversity
Di perseroan, kami menghormati dan menghargai perbedaan etnis,              SPINDO embraces and appreciates differences of ethnicity, gender,
jenis kelamin, usia, asal kebangsaan, orientasi seksual, pendidikan,        age, national origin, sexual orientation, education, culture, and
budaya, dan agama, dan kami menghargai beragam perspektif yang              religion. We value diverse perspectives that arise from such diversity.
hadir dari keberagaman ini. Kami bangga karyawan kami di tingkat            We are proud that women are at the helm of the Company's
manajerial adalah perempuan, dan kami terus melakukan langkah-              management, and we continue to take any necessary steps to
langkah untuk meningkatkan komposisi ini. Penjabaran target yang            improve the composition. This clearly defines the performance
jelas untuk kinerja kami dalam hal keberagaman, serta meneguhkan            targets for diversity and reinforces our commitment to improving the
komitmen yang lebih kuat untuk meningkatkan kehidupan                       lives of women across our value chain.
perempuan di sepanjang rantai nilai kami.



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Laporan Tahunan 2024




  Lebih lanjut tentang hal ini dapat dilihat di bagian Tanggung Jawab     Further information on the diversity measures can be found in the
  Sosial Perseroan Laporan ini. Pada seluruh tingkat organisasi, kami     Corporate Social Responsibility section of this report. At all levels of
  melakukan perbaikan terus-menerus dalam upaya kesetaraan                the organization, we are making continuous improvements in gender
  gender dengan menetapkan target yang jelas setiap tahunnya, serta       equality by setting clear annual targets and long-term plans to
  rencana jangka panjang untuk mencapainya. Langkah-langkah yang          achieve them. The steps we have taken include the following: building
  telah kami lakukan meliputi : Membangun jajaran tenaga kerja yang       a gender-balanced workforce within the Company and in particular at
  seimbang secara jenis kelamin di dalam Perseroan, khususnya pada        the management level; increasing safety and security of women in the
  tingkat manajemen; Mendorong keselamatan dan keamanan bagi              communities where we operate; improving women's access to
  para perempuan di komunitas tempat kami beroperasi; Meningkatkan        training and skills across our value chain; creating greater
  akses para perempuan ke pelatihan dan keterampilan di seluruh           opportunities for women across the value chain; and, providing
  rantai nilai kami; Memperluas peluang bagi perempuan dalam rantai       support systems for female employees in order to achieve or improve
  nilai kami; Menyediakan sistem pendukung agar karyawan                  their work-life balance.
  perempuan mencapai keseimbangan yang lebih baik antara karier
  dan keluarga mereka.                                                    One important aspect of our commitment to diversity is to provide all
                                                                          employees with a fair and equal opportunity for education and
  Salah satu aspek penting dalam komitmen kami terhadap                   training. In this respect, what we have so far conducted includes the
  keberagaman adalah memberikan kesempatan yang adil dan sama ke          Company's General Training team sending information about
  semua karyawan untuk mengikuti pelatihan. kami telah melakukan hal-     available training programs to all employees and managers and
  hal berikut: Tim General Training Perseroan mengirimkan informasi       ensuring that each and every employee has an equal opportunity to
  tentang pelatihan yang tersedia kepada seluruh karyawan dan             participate.
  manajer untuk memastikan bahwa setiap individu memiliki
  kesempatan yang sama untuk berpartisipasi.




  Penghargaan Terhadap Karyawan | Employee Recognition
  Perseroan memberikan kesamaan hak bagi seluruh karyawan untuk           The Company provides equal rights for all employees to develop their
  mengembangkan karir di lingkungan Perseroan. Karyawan yang              careers within the Company. Employees who deliver excellent
  memiliki prestasi kerja baik dan memenuhi berbagai persyaratan dari     performance and fulfil a number of the Company requirements will be
  Perseroan akan memperoleh promosi jabatan dan kenaikan gaji.            entitled to promotion prospects and salary increases. In addition,
  Selain itu, untuk karyawan yang telah bekerja selama 10, 20, dan 30     employees who have worked for 10, 20, and 30 years are rewarded
  tahun diberikan penghargaan atas bukti loyalitasnya selama bekerja      for their loyalty to the Company.
  di Perseroan.




          Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan          Referensi                      Laporan Keuangan               67
          Corporate Governance          Corporate Social Responsibility        References                     Financial Statements             3
Page 76
                                                                                                               2024 Annual Report




Hubungan Industri | Industrial Relationship

Hak seluruh karyawan Perseroan ditetapkan dan dilindungi oleh          All employees' rights are determined and protected by the Business
Prinsip Bisnis dan Pedoman Kebijakan (Kode Etik), serta oleh           Principles and Policy Guidelines (Code of Ethics), as well as by the
ketentuan dalam Perjanjian Kerja Bersama (PKB). PKB                    provisions in the Collective Labor Agreement (PKB). PKB is
dinegosiasikan dan ditandatangani ulang setiap dua tahun oleh          negotiated and re-signed binually by trade unions and management.
serikat pekerja dan Manajemen. Pada tahun 2024, terdapat 2 (dua)       In 2024, there were 2 (two) main issues that had been discussed
diskusi pokok yang telah didiskusikan antara Manajemen dan Serikat     between the Management and the Labor Union, which were
Pekerja, yang diselesaikan secara lancar. Tanggung jawab Perseroan     smoothly settled. The Company's responsibility to employees has
kepada karyawan telah dijabarkan dalam Pedoman. Termasuk               been described in the Guidelines. It includes ensuring a safe and
diantaranya adalah memastikan tempat kerja yang aman dan sehat,        healthy workplace, upholding all applicable laws and regulations, and
menjunjung tinggi seluruh undang-undang dan peraturan yang             ensuring that work relationships are based on mutual respect and
berlaku, dan memastikan bahwa hubungan kerja berlandaskan pada         trust. Meanwhile, any employees' complaints can be submitted
rasa saling menghormati dan kepercayaan. Sementara itu, setiap         through the Company's bipartite mechanism at the local, regional and
keluhan dari karyawan dapat diajukan melalui mekanisme bipartit        national levels. As previously mentioned, employee welfare is our top
Perseroan di tingkat lokal, regional dan nasional. Sebagaimana         priority. The systems and processes that we have administered to
disebutkan di atas, kesejahteraan karyawan adalah prioritas utama      ensure a safe working environment are outlined in the 'Occupational
bagi kami. Sistem serta proses yang telah kami laksanakan untuk        Safety and Health’ section in page 243 - 246, chapter 6 of this Annual
memastikan lingkungan kerja yang aman diuraikan di bagian              Report.
'Keselamatan dan Kesehatan Kerja' di halaman 243 - 246, Bab VI dari
Laporan Tahunan ini.




Program Pelatihan | Training Program
Perseroan berupaya untuk meningkatkan pengetahuan, ketrampilan,        The Company always strives to improve knowledge, skills, and work
dan sikap kerja agar karyawan kompeten sehingga dapat bekerja          attitudes so that employees are competent so they can work
dengan efektif. Perseroan juga memberikan pemahaman mengenai           effectively. The company also provides an understanding of
digitalisasi kepada seluruh karyawan untuk mendukung Perseroan         digitalization to all employees to support the company towards
menuju industri 4.0. Upaya pengembangan karyawan terus menerus         industry 4.0. Employee development efforts are continuously carried
dilakukan melalui berbagai jenis kegiatan di antaranya melalui         out through various types of activities including through the
keikutsertaan pelatihan secara internal (diselenggarakan secara        participation of internal training (conducted independently within the
mandiri di dalam perseroan dan pelatihan eksternal (mengikuti          company and external training (following public training), in order to
pelatihan publik), demi mendapatkan hasil yang optimal untuk           obtain optimal results to ensure that employees who work are
memastikan bahwa karyawan yang bekerja adalah karyawan yang            employees who are competent in their jobs. and improvement of
kompeten di pekerjaannya. Penambahan dan penyempurnaan materi          training materials will continue to be carried out in accordance with
pelatihan akan terus dilakukan sesuai dengan kebutuhan dan             the needs and development of the Company.
perkembangan Perseroan.


Berikut ini adalah beberapa pelatihan yang diselenggarakan             The followings are some of the trainings held throughout 2024,
sepanjang tahun 2024, antara lain:                                     including:




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Laporan Tahunan 2024




  Jenis & Judul Pelatihan Karyawan | Types & Titles of Employee Training
  Pelatihan Internal | Internal Training

  No.                                         Pelatihan Khusus / Inti | Core / Specialized Training                Jumlah Peserta | No. of Participant

  01.   Aspect Impact Risk Assesment (AIRA)                                  Aspect Impact Risk Assesment (AIRA)                                   2
  02.   Autonomus Maintenance                                                Autonomus Maintenance                                               19
  03.   Awareness Sistem Kesehatan dan Keselamatan Kerja                     Awareness of Occupational Health and Safety System                    1
  04.   Build in Quality                                                     Build in Quality                                                      7
  05.   Cara Penggunaan APAR                                                 How to Use APAR                                                     15
  06.   Cost Control & Efisiensi Tingkat Dasar                                Basic Cost Control & Efficiency                                        2
  07.   Daily Check dan Operasional Crane                                    Daily Check and Crane Operation                                       7
  08.   English for Bussiness - Sesi 4                                       English for Bussiness - 4th Session                                 10
  09.   English for Bussiness - Sesi 5                                       English for Bussiness - 5th Session                                 10
  10.   Environmental Management System (EMS) ISO 14001:2015                 Environmental Management System (EMS) ISO 14001:2015                41
  11.   First Aid                                                            First Aid                                                           23
  12.   HR for Non HR                                                        HR for Non HR                                                       26
  13.   Investigasi Kecelakaan Kerja                                         Workplace Accident Investigation                                    14
  14.   Kode Material, Batch & Grade                                         Material Code, Batch & Grade                                          7
  15.   Kredo 7K = E                                                         Creed 7K = E                                                          6
  16.   Kualitas dan Jenis Cacat Hasil Pengelasan HF                         Quality and Types of HF Welding Defects                               7
  17.   Line Balancing                                                       Line Balancing                                                        1
  18.   Manajemen Pergudangan                                                Warehouse Management                                                  2
  19.   Melaksanakan Stock Opname                                            Implementing Stock Opname                                             1
  20.   Melakukan Pemeriksanaan Akhir Pipa HFW                               Conducting Final Inspection of HFW Pipes                            14
  21.   Melakukan Pengelasan SMAW                                            Conducting SMAW Welding                                             20
  22.   Melakukan Pengerjaan Persiapan Spesimen Uji                          Conducting Test Specimen Preparation Work                             6
  23.   Melakukan Pengukuran dengan Menggunakan Alat Ukur                    Conducting Measurements Using Measuring Instruments                   6
  24.   Melakukan Proses Retur Pelanggan (Customer)                          Conducting Customer Return Process                                    2
  25.   Menerapkan K3 di Lingkungan Tempat Kerja                             Implementing K3 in the Workplace Environment                        24
  26.   Menerapkan Prinsip K3 dan 5R di Lingkungan Kerja                     Implementing K3 and 5R Principles in the Work Environment             6
  27.   Menerapkan Sistem Manajemen Mutu                                     Implementing Quality Management System                              28
  28.   Menerima Delivery Order                                              Receiving Delivery Orders                                             5
  29.   Merawat, Mendiagnosa, dan Memperbaiki Sistem Hidrolik                Maintaining, Diagnosing, and Repairing Hydraulic Systems            24
  30.   Moving from Worker to Leader                                         Moving from Worker to Leader                                          8
  31.   Occupational Health and Safety Management System                     Occupational Health and Safety Management System                    49
        (OHSMS) ISO 45001:2018                                               (OHSMS) ISO 45001:2018
  32.   On the Job Training: Flow Process MPD                                On the Job Training: Flow Process MPD                                 1
  33.   On the Job Training: Product Planning                                On the Job Training: Product Planning                                 2
  34.   On the Job Training: QA Customer Handling                            On the Job Training: QA Customer Handling                             2
  35.   Penerbitan P3                                                        P3 Publishing                                                         1
  36.   Pengenalan Reprocessing                                              Reprocessing Introduction                                             7
  37.   Pengenalan Slitter & Mill                                            Slitter & Mill Introduction                                           7
  38.   Pengenalan Warehouse                                                 Warehouse Introduction                                                6
  39.   Pengoperasian dan Perawatan Overhead Crane                           Overhead Crane Operation and Maintenance                            10
  40.   Penilaian Resiko dan Identifikasi Potensi Bahaya di Tempat            Workplace Risk Assessment and Hazard Identification (HIRA)           10
        Kerja (HIRA)



          Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan             Referensi                      Laporan Keuangan             69
          Corporate Governance             Corporate Social Responsibility           References                     Financial Statements           3
Page 78
                                                                                                                    2024 Annual Report




No.                                       Pelatihan Umum | General Training                                   Jumlah Peserta | No. of Participant

41.   Penyimpanan Material Bahan Baku Baja                              Storage of Steel Raw Materials                                                  1
42.   Performance Leadership                                            Performance Leadership                                                          2
43.   Pipa Baja dan Standarisasinya                                     Steel Pipes and Standardization                                                 7
44.   Process dan Product Knowledge                                     Process dan Product Knowledge                                                   1
45.   Product Specification                                              Product Specification                                                            6
46.   Project Management                                                Project Management                                                              9
47.   Quality Management System ISO 9001 (Edisi Terakhir)               Quality Management System ISO 9001 (Latest Edition)                             2
48.   Risk Management                                                   Risk Management                                                                17
49.   Sosialisasi HR                                                    HR Dissemination                                                                6
50.   Spesifikasi Produk ASTM A53 (Edisi Terakhir)                       ASTM A53 Product Specification (Latest Edition)                                  1
51.   Spesifikasi Produk ASTM A795 (Edisi Terakhir)                      ASTM A795 Product Specification (Latest Edition)                                 1
52.   Spesifikasi Produk Pipa Baja Saluran Air SNI 0039                  SNI 0039 Steel Water Pipe Product Specification                                  1
53.   Spesifikasi Produk Pipa Conduit SNI 05 - 0069 (Edisi               SNI 05 - 0069 Conduit Pipe Product Specification (Latest                         1
      Terakhir)                                                         Edition)
54.   Spesifikasi Produk Pipa Konstruksi Mesin SNI 07 - 0067             SNI 07 - 0067 Machine Construction Pipe Product                                 1
      (Edisi Terakhir)                                                  Specification (Latest Edition)
55.   Spesifikasi Produk Pipa Konstruksi Umum (SNI 0068 & JIS            General Construction Pipe Product Specification (SNI 0068 &                      1
      G3444)                                                            JIS G3444)
56.   Spesifikasi Produk Pipa Perabot                                    Furniture Pipe Product Specification                                             1
57.   System Thinking & Complex Decision Making                         System Thinking & Complex Decision Making                                      59
58.   Tingkat Komposisi Dalam Negeri                                    Domestic Composition Level                                                      6
59.   Visi dan Misi Perusahaan                                          Company Vision and Mission                                                      6
60.   Work Habits                                                       Work Habits                                                                     6
                                                                                                                             TOTAL                574




70                       Ikhtisar Utama             Laporan Manajemen                   Profil Perusahaan            Analisa & Pembahasan Manajemen
 3                         Highlights               Management Report                   Company Profile              Management Discussion & Analysis
Page 79
Laporan Tahunan 2024




  Pelatihan Eksternal | External Training

  No.                                         Pelatihan Non Manajemen | Non Management Training                     Jumlah Peserta | No. of Participant

  01.   Master Class (Seminar) MARKETING 6.0: The Future is                  Master Class (Seminar) MARKETING 6.0: The Future is                    3
        Immersive                                                            Immersive
  02.   Technical Performance NDE Level II (Ultrasonic Testing)              Technical Performance NDE Level II (Ultrasonic Testing)              10
  03.   Technical Performance NDE Level II (Liquid Penetrant Test &          Technical Performance NDE Level II (Liquid Penetrant Test &            4
        Magnetic Particle Test)                                              Magnetic Particle Test)
  04.   Resertifikasi Ultrasonic Testing (UT) Level II                        Ultrasonic Testing (UT) Level II Recertification                        3
  05.   Achieving Sustainability through Digital Transformation from         Achieving Sustainability through Digital Transformation from           1
        Mitsubishi Electric                                                  Mitsubishi Electric
  06.   Pelatihan Penyegaran Bagi Petugas Proteksi Radiasi (PPR)             Refreshment Training for Radiation Protection Officers (PPR)            1
        untuk Keperluan Selain Medik                                         for Non-Medical Purposes
  07.   Pelatihan Pelatih Di Tempat Kerja (Mentor Pemagangan)                Workplace Trainer Training (Internship Mentor) Batches V to            1
        Angkatan V Sampai VIII                                               VIII
  08.   Pelatihan Pelatih Di Tempat Kerja (Mentor Pemagangan)                Workplace Trainer Training (Internship Mentor) Batches IX to           1
        Angkatan IX Sampai XII                                               XII
  09.   Resertifikasi PTMT Level II                                           PTMT Level II Recertification                                           2
  10.   Pelatihan & Sertifikasi P3K                                           First Aid Training & Certification                                      1
  11.   Fortinet Accelerate Indonesia 2024                                   Fortinet Accelerate Indonesia 2024                                     1
  12.   Perpanjangan Lisensi K3 SIO Crane Kelas III                          Extension of K3 SIO Crane Class III License                          12
  13.   Pelatihan dan Sertifikasi Petugas P3K (First Aid)                     First Aid Officer Training and Certification                             5
  14.   Legal Opinion                                                        Legal Opinion                                                          1
  15.   Advanced General Affair Management                                   Advanced General Affair Management                                     1
  16.   Pelatihan & Sertifikasi Mobile Crane Kelas II                         Mobile Crane Class II Training & Certification                          2
  17.   Pelatihan Hiperkes                                                   Hiperkes Training                                                      1
  18.   Leadership Challenge in The Winning Mindset for Supervisor           Leadership Challenge in The Winning Mindset for Supervisor           22
  19.   Coating Inspector Level II                                           Coating Inspector Level II                                             1
  20.   Sertifikasi Teknisi K3 Pesawat Angkat & Angkut                        Lifting & Transporting K3 Technician Certification                      2
  21.   Implementasi ISO/IEC 17025:2017                                      ISO/IEC 17025:2017 Implementation                                      1
  22.   Teknisi K3 Listrik                                                   Electrical K3 Technician                                               3
  23.   Strategic Process Management Excellence                              Strategic Process Management Excellence                              14
  24.   Mengintegrasikan KPI dalam Performance Management                    Integrating KPIs in Performance Management to Achieve                  1
        untuk Mencapai Tujuan Bisnis                                         Business Goals                                                         1
  25.   SIO Forklift Kelas II                                                SIO Forklift Kelas II                                                  6
  26.   SIO Crane Kelas III                                                  SIO Crane Kelas III                                                  10
  27.   Live Virtual Training: Project Management                            Live Virtual Training: Project Management                              3
  28.   More Than Metrics: Transforming Business through People              More Than Metrics: Transforming Business through People                1
  29.   Analytics Pelatihan & Sertifikasi SIO Crane Kelas III                 Analytics SIO Crane Class III Training & Certification                  1
  30.   Sertifikasi Ahli Radiografi Level II                                   Radiographer Level II Certification                                     2
  31.   Pelatihan & Sertifikasi AK3 Listrik                                   Electrical AK3 Training & Certification                                 3
  32.   Pelatihan & Sertifikasi Forklift Kelas II                             Class II Forklift Training & Certification                              2
  33.   Petugas K3 Kimia                                                     Chemical K3 Officer                                                     2
  34.   Building Strategic CSR and Measuring with SROI                       Building Strategic CSR and Measuring with SROI                         1
  35.   Advance Risk Based Auditing                                          Advance Risk Based Auditing
  36.   Financial Auditing for Internal Auditors                             Financial Auditing for Internal Auditors                               3




           Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan              Referensi                      Laporan Keuangan             71
           Corporate Governance            Corporate Social Responsibility            References                     Financial Statements           3
Page 80
                                                                                                                       2024 Annual Report




Pelatihan Eksternal | External Training

No.                                      Pelatihan Non Manajemen | Non Management Training                     Jumlah Peserta | No. of Participant

37.    Root Cause Analysis                                                Root Cause Analysis                                                              5
38.    Sales Profile Instrument (Sprint) Assessment                        Sales Profile Instrument (Sprint) Assessment                                     31
39.    Pelatihan & Sertifikasi Petugas Pemadam Kebakaran Kelas D           Class D Firefighter Training & Certification                                      44
40.    Pelatihan & Sertifikasi Petugas Pemadam Kebakaran Kelas C           Class C Firefighter Training & Certification                                      26
41.    Pelatihan & Sertifikasi Petugas Pemadam Kebakaran Kelas B           Class B Firefighter Training & Certification                                       3
                                                                                                                                                     238



Pelatihan Eksternal | External Training

No.                                      Pelatihan Manajemen | Management Training                             Jumlah Peserta | No. of Participant

01. Empowering Through Coaching, Counseling & Mentoring                  Empowering Through Coaching, Counseling & Mentoring                              25
02. Sales Coaching                                                       Sales Coaching                                                                   49
03. Tantangan & Peluang Kolaborasi: Perpaduan Perusahaan                 Challenges & Opportunities for Collaboration: The Combination of                 29
      Keluarga & Profesionalisme dalam Era Bisnis Modern                 Family Business & Professionalism in the Modern Business Era
04. Level Up Strategy: A Strategy Framework for Growth                   Level Up Strategy: A Strategy Framework for Growth                          129
05. MasterClass (Seminar) MARKETING 6.0: The Future is                   MasterClass (Seminar) MARKETING 6.0: The Future is                                2
      Immersive                                                          Immersive
06. Technical Performance NDE Level II (Ultrasonic Testing)              Technical Performance NDE Level II (Ultrasonic Testing)                           1
07. One Day Conference The 10th Indonesia HR Director                    One Day Conference The 10th Indonesia HR Director Summit:                         1
      Summit: Building Healthy & High Performance                        Building Healthy & High Performance
08. Achieving Sustainability through Digital Transformation from         Achieving Sustainability through Digital Transformation from                      1
      Mitsubishi Electric                                                Mitsubishi Electric
09. Pelatihan Penyegaran Bagi Petugas Proteksi Radiasi (PPR)             Refreshment Training for Radiation Protection Officers (PPR) for                   1
      untuk Keperluan Selain Medik                                       Non-Medical Purposes
10. Sosialisasi Pengembangan Industri Hijau                              Socialization of Green Industry Development                                       1
11. Seminar Optimalisasi NDT Phased Array & Radiografi                    Seminar on Optimizing NDT Phased Array & Radiography as                           2
      sebagai Solusi Inspeksi Modern Di Berbagai Sektor Industri         Modern Inspection Solutions in Various Industrial Sectors
12. Business Matching Fair: How to Track Your Carbon Footprint           Business Matching Fair: How to Track Your Carbon Footprint                       15
13. Communication Skill for Generation Gap                               Communication Skill for Generation Gap                                            2
14. How to Build Organization Agility: Use Creative Process to           How to Build Organization Agility: Use Creative Process to                        2
      Drives Organization Agility                                        Drives Organization Agility
15. Innovation on Manpower Summit: Leading Change:                       Innovation on Manpower Summit: Leading Change: Sustainable                        1
      Sustainable Employment Strategies for a Resilient Future           Employment Strategies for a Resilient Future                                      1
16. API Spec Q1 10th Edition                                             API Spec Q1 10th Edition                                                          2
17. Net Zero Incubator                                                   Net Zero Incubator                                                                2
18. People Centered Engagement: Melibatkan (Karyawan) Melalui People Centered Engagement: Engaging (Employees) Through                                     1
      Kepemimpinan Rendah Hati                                           Humble Leadership
19. Fortinet Accelerate Indonesia 2024                                   Fortinet Accelerate Indonesia 2024                                                1
20. System Thinking & Complex Decision Making                            System Thinking & Complex Decision Making                                         1
21. Resertifikasi Coating Inspector Level II                              Coating Inspector Level II Recertification                                         1
22. Sertifikasi BNSP Welding Inspector                                    BNSP Welding Inspector Certification
23. Sertifikasi Teknisi K3 Pesawat Angkat & Angkut                        K3 Technician Certification for Lifting & Transporting Aircraft                    1
24. Implementasi ISO/IEC 17025:2017                                      Implementation of ISO/IEC 17025:2017                                              2
25. Perpanjangan Lisensi Ahli AK3 Listrik                                Extension of AK3 Electrical Expert License                                        1



72                     Ikhtisar Utama                Laporan Manajemen                     Profil Perusahaan            Analisa & Pembahasan Manajemen
 3                       Highlights                  Management Report                     Company Profile              Management Discussion & Analysis
Page 81
Laporan Tahunan 2024




  Pelatihan Eksternal | External Training

  No.                                       Pelatihan Manajemen | Management Training                              Jumlah Peserta | No. of Participant

  26. Mengintegrasikan KPI dalam Performance Management                      Integrating KPI in Performance Management to Achieve                  1
        untuk Mencapai Tujuan Bisnis                                         Business Goals                                                        1
  27. Training of Trainer Struktur dan Skala Upah Tahun 2024                 Training of Trainer Wage Structure and Scale in 2024                  1
  28. Kesiapan WP Terhadap Implementasi Core Tax Dalam                       Taxpayer Readiness for Core Tax Implementation in Supporting          1
        Mendukung Kegiatan Bisnis yang Lebih Efektif dan Efisien              More Effective and Efficient Business Activities
  29. Perpanjangan AK3 Listrik                                               Extension of AK3 Electrical                                           1
  30. Advance Risk Based Auditing                                            Advance Risk Based Auditing                                           1
  31. Financial Auditing for Internal Auditors                               Financial Auditing for Internal Auditors                              1
  32. Root Cause Analysis                                                    Root Cause Analysis                                                   1
  33. Sales Profile Instrument (Sprint) Assessment                            Sales Profile Instrument (Sprint) Assessment                         17
  34. Pelatihan & Sertifikasi Petugas Pemadam Kebakaran Kelas D               Class D Firefighter Training & Certification                            2
  35. Pelatihan & Sertifikasi Petugas Pemadam Kebakaran Kelas C               Class C Firefighter Training & Certification                            3
  36. Pelatihan & Sertifikasi Petugas Pemadam Kebakaran Kelas B               Class B Firefighter Training & Certification                            2
                                                                                                                                                305




  Pelatihan Eksternal | External Training

  No.                                       Pelatihan Direksi | Board of Directors Training                        Jumlah Peserta | No. of Participant

  01. Tantangan dan Peluang Kolaborasi: Perpaduan Perusahaan Challenges and Opportunities for Collaboration: The Combination                       6
        Keluarga & Profesionalisme dalam Era Bisnis Modern                 of Family Business & Professionalism in the Modern Business Era
  02. Level Up Strategy: A Strategy Framework for Growth                   Level Up Strategy: A Strategy Framework for Growth                      6
                                                                                                                                                 12




  Sepanjang tahun 2024, telah dilakukan 60 pelatihan internal yang               Throughout 2024, 60 internal training sessions were conducted, with
  diikuti oleh 574 peserta yang terbagi menjadi 60 Pelatihan Non-                574 participants, divided into 60 Non-Management and 60
  Manajemen dan 60 Pelatihan Manajemen. Perseroan juga melakukan                 Management training sessions. The company also held 77 external
  77 pelatihan eksternal yang diikuti oleh 543 peserta, yang terbagi             training sessions with 543 participants, divided into 41 Non-
  menjadi 41 Pelatihan Non-Manajemen dan 36 Pelatihan Manajemen.                 Management and 36 Management training sessions. External
  Pelatihan Eksternal bagi Direksi dilakukan sebanyak 2 pelatihan yang           training for the Board of Directors was conducted in 2 sessions, with
  diikuti oleh 12 peserta.                                                       12 participants.


  Sepanjang 2024, total investasi untuk pelatihan dan pengembangan               Throughout 2024, the total investment for employee training and
  kompetensi karyawan mencapai Rp 870.869.100 dengan total                       competency development amounted to IDR 870,869,100, with a
  waktu yang digunakan adalah 6734 jam.                                          total of 6,734 hours spent.




           Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan                Referensi                         Laporan Keuangan         73
           Corporate Governance          Corporate Social Responsibility              References                        Financial Statements       3
Page 82
                                                                                           2024 Annual Report



Komposisi Karyawan
Composition of Employee


Rekapitulasi Data Sumber Daya Manusia per 31 Desember 2024
Human Resources Data Summary per 31 December 2024

                                          2024                                                                         994

      Jumlah Karyawan
      Total Employees
                                          2023                                                                       1020


                                          2022                                                                       1030



Komposisi karyawan berdasarkan kategori jenjang manajemen
                                                                                                         Jumlah      Persentase
Employee category by management level                                                                     Total      Percentage

                                             2024                                                         128          13%
      Manajemen ke atas |
      Management and above
                                             2023                                                         128          13%
                                             2022                                                         130          13%


                                             2024                                                          866         87%
      Staf dan Operator |
      Staff and Operator
                                             2023                                                          892         87%
                                             2022                                                          900         87%


Komposisi karyawan berdasarkan kategori jenjang pendidikan
                                                                                                         Jumlah      Persentase
Employee category by education level                                                                      Total      Percentage

                                             2024                                                          413         42%
     Diploma / Sarjana ke atas |
                                             2023                                                          410          40%
     Diploma / Bachelor and above
                                             2022                                                          400          39%

     Sekolah Menengah Atas atau Sekolah      2024                                                          581          58%
     Menengah Kejuruan ke bawah |
                                             2023                                                          610         60%
     Senior High School or Vocational
     High School below                       2022                                                          630         61%


Komposisi karyawan berdasarkan status kepegawaian
                                                                                                         Jumlah      Persentase
Employee category by employment status                                                                    Total      Percentage

                                             2024                                                          899         90%
     Pegawai Tetap |
     Permanent Employee
                                             2023                                                          920         90%
                                             2022                                                          931         90%

                                             2023                                                            95        10%
     Pegawai Kontrak |
     Contract Employee                       2022                                                         100          10%
                                             2021                                                            99        10%



74                       Ikhtisar Utama             Laporan Manajemen   Profil Perusahaan   Analisa & Pembahasan Manajemen
 3                         Highlights               Management Report   Company Profile     Management Discussion & Analysis
Page 83
Laporan Tahunan 2024




  Komposisi karyawan berdasarkan kategori usia
                                                                                                              Jumlah   Persentase
  Employee category by age                                                                                     Total   Percentage

                                        2024                                                                    59       6%
   <26 tahun | <26 year old             2023                                                                    64       6%
                                        2022                                                                    63       6%


                                        2024                                                                  262       26%
   26 - 35 tahun | 26 - 35 year old     2023                                                                  277       27%
                                        2022                                                                   273      27%


                                        2024                                                                   356      36%
   36 - 45 tahun | 36 - 45 year old     2023                                                                   353      35%
                                        2022                                                                  364       35%


                                        2024                                                                  159       16%
   46 - 50 tahun | 46 - 50 year old     2023                                                                  166       16%
                                        2022                                                                  183       18%


                                        2024                                                                  135       14%
   51 - 55 tahun | 51 - 55 year old     2023                                                                  135       13%
                                        2022                                                                  121       12%


                                        2024                                                                    23       2%
   >56 tahun | >56 year old             2023                                                                    25       2%
                                        2022                                                                    26       2%




  Komposisi karyawan berdasarkan jenis kelamin
                                                                                                              Jumlah   Persentase
  Employee category by gender                                                                                  Total   Percentage

                                        2024                                                                   845      85%
   Pria |
   Male
                                        2023                                                                   867      85%
                                        2022                                                                   875      85%


                                        2024                                                                  149       15%
   Wanita |
   Female                               2023                                                                  153       15%
                                        2022                                                                  155       15%



            Tata Kelola Perusahaan    Tanggung Jawab Sosial Perusahaan     Referensi    Laporan Keuangan                     75
            Corporate Governance        Corporate Social Responsibility   References   Financial Statements                   3
Page 84
                                                                                                                 2024 Annual Report



Komposisi Pemegang Saham
Composition of Shareholders



                                                                                                           %
                                                                              42,38
                                                                              Masyarakat | Public




                                                                                                               %
     55,94                      %
                                                                                            1,68
                                                                                            Saham Treasury | Treasury Stock
     PT Cakra Bhakti Para Putra


           Nama Pemegang Saham                        per 1 January 2024 [%]                            per 31 December 2024 [%]
            Name of Shareholders                     As of January 1st, 2024 [%]                       As of December 31st, 2024 [%]

        PT Cakra Bhakti Para Putra                             55,94%                                             55,94%

        Masyarakat | Public                                    42,38%                                             42,38%

        Saham Treasury | Treasury Stock                            1,68%                                            1,68%




Daftar Pemegang Saham & Komposisi Kepemilikan | List of Shareholders & Percentage of Ownerships

                                                            2024                                           2023
Nama Pemegang                               Jumlah                   Persentase                   Jumlah                  Persentase
                                                                                                                                                     Nominal Value IDR 100 per Share




Saham                                       Saham                    Kepemilikan                  Saham                   Kepemilikan
                                                                      Saham(%)                                             Saham(%)
Name of                                    Number of                Percentage of              Number of                 Percentage of
Shareholders                                Shares                  Ownership (%)               Shares                   Ownership (%)

PT Cakra Bhakti Para Putra                4.020.063.930                55,94%                4.020.063.930                    55,94%

Masyarakat | Public                       3.045.276.805                42,38%                3.045.276.805                    42,38%

Saham Treasury | Treasury Stock            120.651.300                  1,68%                  120.651.300                     1,68%

Total Saham Keseluruhan |                 7.185.992.035                    100%              7.185.992.035                      100%
Total Overall Shares


76                    Ikhtisar Utama           Laporan Manajemen                    Profil Perusahaan              Analisa & Pembahasan Manajemen
 3                      Highlights             Management Report                    Company Profile                Management Discussion & Analysis
Page 85
Laporan Tahunan 2024




  Jenis Kepemilikan Saham | Type of Shareholder
  Nama                                                                 Jumlah Pemegang Saham                Jumlah Saham                        Persentase
  Name                                                                   Number of Shareholder             Number of Shares                     Percentage

  Institusi Lokal | Local Institutions *                                            29                       4.051.726.102                          61,18%

  Institusi Asing | Foreign Institutions                                            26                         885.855.203                          13,38%

  Individu Lokal | Local Individuals                                             7.839                       1.681.433.689                          25,39%

  Individu Asing | Foreign Individuals                                              23                            3.548.800                          0,05%

  TOTAL                                                                          7.917                       6.622.563.794                       100,00%

  *termasuk CBPP | including CBPP


  Kelompok Pemegang Saham | Categories of Shareholder
  Status Kepemilikan                                                   Jumlah Pemegang Saham                Jumlah Saham                        Persentase
  Ownership                                                              Number of Shareholder             Number of Shares                     Percentage

  PEMODAL NASIONAL | LOCAL INVESTORS

  Individu Lokal | Local Individuals                                             7.839                       1.681.433.689                          77,30%

  Institusi (Broker) | Institutions (Broker)                                         4                          31.662.202                           146%

  Koperasi | Cooperative                                                             0                                      0                        0,00%

  Dana Pensiun | Pension Funds                                                       0                                      0                        0,00%

  Asuransi | Insurance                                                               2                            7.350.000                          0,34%

  Perseroan Terbatas | Company                                                      19                         142.765.291                           6,56%

  Badan Usaha Tetap Khusus Non Tax |                                                 0                                      0                        0,00%

  Non Tax Permanent Establishment
  Reksadana | Mutual Funds                                                           3                          19.959.900                           0,92%

  TOTAL PEMODAL NASIONAL | TOTAL LOCAL INVESTORS                                 7.867                       1.883.171.082                          86,57%

  PEMODAL ASING | FOREIGN INVESTORS

  Individu Asing | Foreign Individuals                                              10                            1.248.900                          0,04%

  Individu Asing - KITAS | Foreign Individuals - Limited Stay Permit Card 13                                      2.299.900                          0,08%

  Badan Usaha Asing | Foreign Corporation                                           26                         885.855.203                          29,14%

  Tax Treaty                                                                        19                         266.916.270                           8,78%

  TOTAL PEMODAL ASING | TOTAL FOREIGN INVESTORS                                     68                       1.156.320.273                          13,43%

  TOTAL                                                                          7.935                       3.039.491.355                           100%



  Kepemilikan Saham Anggota Dewan Komisaris & Direksi |
  Share Ownership of The Board of Commissioners & Board of Directors

  Per 31 Desember 2024, tidak ada anggota Dewan Komisaris dan                      As of December 31, 2024, there is no member of the Board of
  Direksi yang memiliki saham publik Perseroan baik secara langsung                Commissioners and Board of Directors has a public share of the Company
  maupun tidak langsung, kecuali Bapak Nico Gunawan sebagai                        either directly or indirectly, except for Mr. Nico Gunawan as a member of
  anggota direksi yang memiliki sekitar 3800 lembar dari jumlah modal              the Board of Directors who owns shares amounting 3800 shares of the
  dasar yang sah, diterbitkan dan disetor penuh oleh Perseroan.                    total issued and fully paid authorized capital of the Company.



           Tata Kelola Perusahaan          Tanggung Jawab Sosial Perusahaan               Referensi                       Laporan Keuangan               77
           Corporate Governance              Corporate Social Responsibility             References                      Financial Statements             3
Page 86
                                                                                                               2024 Annual Report




Perjanjian Pajak Luar Negeri | Foreign Tax Treaty

Negara                                                                   Jumlah Pemegang Saham                           Jumlah Saham
Country                                                                    Number of Shareholder                        Number of Shares

Kanada | Canada                                                                           1                                        426.800
Finlandia | FInland                                                                       1                                    67.000.000
Jepang | Japan                                                                            2                                  133.174.930
Singapura | Singapore                                                                     1                                    25.891.170
Swiss | Switzerland                                                                       2                                      1.402.339
Inggris Raya | United Kingdom                                                             1                                        310.000
Amerika Serikat | United States of America                                              19                                     38.711.031



Grup & Struktur Kepemilikan Saham | Group & Shareholding Structure

                                         PT Cakra Bhakti                Pemegang Saham Publik
                                           Para Putra                     Public Shareholders*


                                       55,94%                                                 44,06%



                          90%                             50%                                            20%
                          PT SPINDO                       PT Sanko Steel
                                                                                               PT Poses
                      Engineering Industry                  Indonesia



*Pemegang Saham Publik | Public Shareholders
                                                                             2024                               2023
Nama Pemegang                                                       Jumlah           Persentase            Jumlah                Persentase
Saham                                                               Saham            Kepemilikan           Saham                 Kepemilikan
                                                                                      Saham(%)                                    Saham(%)
Name of                                                            Number of        Percentage of         Number of            Percentage of
Shareholders                                                        Shares          Ownership (%)          Shares              Ownership (%)

Pemberton Asia Opportunities Fund                                   500,000,000           6.96%            500,000,000                    6.96%

Saham Warkat (masyarakat) | Script Share (public)                   126,436,750           1.76%            126,436,750                    1.76%

Saham Non Warkat (masyarakat) | Scriptless Share (public)         2,418,840,055          33.66%           2,418,840,055                 33.66%

Saham Treasury | Treasury Share                                     120,651,300           1.68%            120,651,300                    1.68%

Total Saham | Total Shares                                        7,185,992,035        100.00%            7,185,992,035               100.00%



78                    Ikhtisar Utama                Laporan Manajemen                 Profil Perusahaan         Analisa & Pembahasan Manajemen
 3                      Highlights                  Management Report                 Company Profile           Management Discussion & Analysis
Page 87
Laporan Tahunan 2024




  Entitas Anak & Perusahaan Asosiasi | Subsidiaries & Associate Companies

  Entitas Anak                                                          Perusahaan Asosiasi
  Subsidiaries                                                          Associate Companies

  PT SPINDO ENGINEERING INDUSTRY                                        PT SANKO STEEL INDONESIA
  Jl. Kalibutuh No. 189-191, Surabaya 60173, Jawa Timur                 Jl. Millenium Raya Blok I-2 No. 7, Cikupa, Tigaraksa, Tangerang,
  p : +6231 532 0320                                                    Banten
  f : +6231 531 0712                                                    p : +6221 626 0456
                                                                        f : +6221 624 0313
  Perdagangan, perindustrian &       Trading, industrial and
  jasa, 90% kepemilikan oleh         services, 90% owned by             Industri suku cadang dan          Spare parts and accessories for
  SPINDO.                            SPINDO.                            aksesori kendaraan bermotor,      motorized vehicle industries,
                                                                        50% kepemilikan oleh SPINDO.      50% owned by SPINDO.


                                                                        PT POSES
                                                                        Jl. SA Tirtayasa No. 7, Rukan Mega Cilegon Blok A,
                                                                        Rawanuju, Purwakarta, Cilegon, Banten.

                                                                        Perdagangan besar dan jasa        Large scale trading and after-
                                                                        purna jual, 20% kepemilikan oleh sales service, 20% owned by
                                                                        SPINDO.                           SPINDO.
                                                                        Perusahaan sudah tidak            The company is no longer in
                                                                        beroperasi.                       operation.




          Tata Kelola Perusahaan    Tanggung Jawab Sosial Perusahaan          Referensi                    Laporan Keuangan                79
          Corporate Governance        Corporate Social Responsibility        References                   Financial Statements              3
Page 88
                                                                                                       2024 Annual Report



Lembaga Penunjang Profesi & Pasar Modal
Professional Institutions & Capital Market


Kantor Akuntan Publik                                            Bursa
Public Accounting Firm                                           Stock Exchange

Kanaka Puradireja, Suhartono                                     PT Bursa Efek Indonesia
(a member of Nexia International)                                Indonesia Stock Exchange Building
18th Office Park, Tower A Lt.20                                  Tower I, 6th Floor
Jl. TB. Simatupang No.18,                                        Jl. Jend. Sudirman Kav. 52 - 53
Kebagusan, Pasar Minggu                                          Jakarta 12190, Indonesia
Jakarta 12520 – Indonesia                                        p : +62 21 515 0515
P : +6221 2270 8292                                              f : +62 21 515 0330
F : +6221 2270 8299                                              e : callcenter@idx.co.id
e : office18@kanaka.co.id                                        w: www.idx.co.id
w: www.kanaka.co.id




Notaris                                                          Biro Administrasi Efek
Notary                                                           Share Registrar

Christina Dwi Utami, SH., M.Hum., M.Kn,                          PT Adimitra Jasa Korpora
Jl. K.H. Zainul Arifin No. 2                                     Rukan Kirana Boutique Office
Kompleks Ketapang Indah B2 No. 4-5                               Jl. Kirana Avenue III Blok F3 No. 5
Jakarta 11140, Indonesia                                         Kelapa Gading, Jakarta Utara 14250,
p : +6221 630 1577                                               Indonesia
f : +6221 633 7851                                               p : +6221 2974 5222
                                                                 f : +6221 2928 9961
                                                                 e : opr@adimitra-jk.co.id




 80                      Ikhtisar Utama      Laporan Manajemen                  Profil Perusahaan       Analisa & Pembahasan Manajemen
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 Informasi pada Situs Perusahaan
 Information on the Company’s Website


  Situs atau Website resmi Perseroan dibuat guna menerapkan prinsip              The official website of the Company was created to implement the principle of
  keterbukaan dalam pengelolaan Perusahaan. Perseroan mengadopsi seluruh         transparency in corporate management. The Company adopts the essence of
  intisari dari Peraturan OJK (POJK) No.8/POJK.04/2015 tentang Situs Web         the Financial Services Authority Regulation (POJK) No. 8/POJK.04/2015
  Emiten atau Perusahaan Publik. Situs resmi Perseroan adalah                    concerning the Websites of Issuers or Public Companies. The official website
  www.spindo.com. Dalam rangka menjaga aktualitas informasi yang ada,            of the Company is www.spindo.com. To maintain the accuracy and timeliness
  Perseroan melakukan pembaharuan secara berkala guna menjamin                   of the information provided, the Company regularly updates the site to ensure
  keterbukaan informasi bagi para pemangku kepentingan. Situs yang disajikan     transparency for stakeholders. The website, which is available in two
  dalam dua bahasa ini, yakni Indonesia dan Inggris, memuat berbagai informasi   languages (Indonesian and English), contains various information, including:
  antara lain:


  Profil Perusahaan                                                               Company Profile
  Dalam menu ini, berbagai informasi terkait dengan sejarah singkat Perseroan,   This section provides information related to the Company's brief history,
  Profil Manajemen, Visi dan Misi serta Tujuan perusahaan, Riwayat                Management Profile, Vision and Mission, Company Objectives, Company
  Perusahaan, Struktur Organisasi termasuk Kepemilikan Saham serta Kegiatan      History, Organizational Structure, including Shareholding and Business
  Usaha Perseroan. Dengan melihat informasi tersebut, para Pemangku              Activities. By reviewing this information, stakeholders can clearly understand
  Kepentingan dapat mengetahui dengan jelas Profil Perusahaan serta               the Company's profile and its management.
  pengelolaan perusahaan.


  Produk                                                                         Product
  SPINDO memproduksi berbagai macam pipa baja dengan standar sertifikasi          SPINDO manufactures a variety of steel pipes with both domestic and
  domestik dan Internasional untuk berbagai macam aspek kehidupan. Jaminan       international certification standards for various aspects of life. The Company
  mutu produk selalu dilakukan perusahaan untuk menghasilkan produk              ensures product quality by implementing rigorous quality control measures to
  dengan kualitas dengan durabilitas yang baik. Selain itu, pipa kami telah      produce durable, high-quality products. Additionally, our pipes undergo over
  melalui lebih dari 10 tahap pengujian untuk menghasilkan pipa baja dengan      10 stages of testing to ensure the best quality steel pipes.
  kualitas terbaik.


  Tata Kelola Perusahaan                                                         Corporate Governance
  SPINDO memiliki komitmen untuk menerapkan tata kelola perusahaan                SPINDO is committed to applying corporate governance as one of the
  sebagai salah satu proses untuk menjaga kesinambungan usaha perusahaan         processes to maintain the company's long-term sustainability, prioritizing the
  dalam jangka panjang yang mengutamakan kepentingan para pemegang               interests of shareholders and stakeholders. In implementing good corporate
  saham dan pemangku kepentingan. Dalam pelaksanakan tata kelola                 governance, the Company always upholds five principles: transparency,
  perusahaan yang baik, Perseroan selalu mengedepankan 5 prinsip, yaitu          accountability, responsibility, independence, fairness, and equality.
  transparansi, akuntabilitas, pertanggungjawaban, independensi, dan
  kewajaran serta kesetaraan.


  Investor                                                                       Investor
  Perseroan berkomitmen untuk menyediakan informasi yang dibutuhkan bagi         The Company is committed to providing shareholders with the necessary
  Pemegang Saham seputar daftar pemegang saham, perkembangan harga               information regarding shareholder lists, stock price developments, including
  saham, termasuk laporan kinerja perusahaan yang mencakup laporan               company performance reports such as financial statements and annual
  keuangan dan laporan tahunan. Informasi tersebut selalu disajikan dengan       reports. This information is always presented with an emphasis on openness
  mengedepankan prinsip keterbukaan dan transparansi.                            and transparency.




            Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan             Referensi                          Laporan Keuangan                81
            Corporate Governance             Corporate Social Responsibility           References                         Financial Statements              3
Page 90
                                                                                                                             2024 Annual Report




Tanggung Jawab Sosial                                                           Social Responsibility
SPINDO memilki komitmen untuk melakukan pengelolaan SDM yang                    SPINDO is committed to human resource management with a focus on
berfokus pada peningkatan kualitas SDM, baik didalam perusahaan maupun          improving the quality of human resources both within the company and its
dilingkungan sekitar perusahaan. Selain itu, perusahaan juga berkomitmen        environment.       In addition, the company is     committed to sustainable
untuk menjaga kelestarian lingkungan secara berkelanjutan yang                  environmental protection in line with its triple purpose of profit, people and
diharmonisasikan dalam triple bottom line yakni profit, people, dan planet.      planet.


Artikel                                                                         Articles
SPINDO memberikan informasi tentang perkembangan perusahaan,                    SPINDO provides information on company advancements, the steel industry
informasi tentang sektor industri baja, serta pengumuman penting lainnya.       sector, and other key announcements. The publication of articles is intended to
Pemuatan artikel diharapkan dapat mempermudah masyarakat dalam                  make it easier for the public to get information about firms and the steel
memperoleh informasi seputar perusahaan dan sektor industri baja.               industry sector.


Karir                                                                           Career
SPINDO terhubung dengan situs rekruitmen tenaga kerja yang dibutuhkan           SPINDO is linked to the necessary labor recruitment site with certain
dengan kualifikasi yang jelas.                                                   qualifications.


Kontak                                                                          Contact
SPINDO membantu masyarakat untuk dapat langsung terhubung dengan                SPINDO enables customers to directly contact businesses with questions
perusahaan untuk berbagai pertanyaan terkait dengan perusahaan, produk          about the company, its products and services, and complaints.
dan jasa, serta komplain.




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       Tata Kelola Perusahaan   Tanggung Jawab Sosial Perusahaan     Referensi    Laporan Keuangan      83
       Corporate Governance       Corporate Social Responsibility   References   Financial Statements    4
Page 92
                                                                                                                                   2024 Annual Report



Tinjauan Bisnis
Overview of Business Performance

Penerapan Strategi Multisegmen | Implementation of Multisegment Strategy

Perseroan menerapkan strategi multisegmen untuk produk pipa baja               The company implements a multi-segment strategy for its steel pipe
yang dihasilkan. Masing-masing pasar memiliki pesan atau produk                products. Each market has a different message or product, so the
yang berbeda sehingga Perseroan juga menyesuaikan pesan dan                    Company also adjusts the message and content to suit the wants and
konten agar sesuai dengan keinginan dan kebutuhan yang                         needs determined by each market. The Company has sorted steel
ditentukan oleh masing-masing pasar. Perseroan telah memilah                   pipe products according to market needs, including: water pipes,
produk pipa baja sesuai kebutuhan pasar, antara lain: pipa air, pipa           structural pipes, oil and gas pipes, GI pipes, furniture pipes,
struktur, pipa minyak dan gas, pipa GI, pipa furnitur, pipa otomotif,          automotive pipes, poles, stainless steel pipes for industry and
tiang, pipa stainless steel untuk industri, dan stainless steel untuk          stainless steel for ornaments. Each steel pipe product label has been
ornamen. Masing-masing label produk pipa baja tersebut telah                   given a different message and content according to end-user needs.
diberikan pesan dan konten yang berbeda sesuai dengan kebutuhan
end-user.


Strategi ini membantu Perseroan mengatasi siklus hidup produk,                 This strategy helps the Company overcome the product life cycle, if
apabila salah satu produk segmen tertentu turun maka Perseroan                 one particular product segment declines, the Company has other
memiliki produk segment lain untuk bersaing. Strategi multisegmen              product segments to compete. The multi-segment strategy gives the
memberi Perseroan peluang untuk menjangkau pangsa pasar yang                   Company the opportunity to reach a wider market share, as well as
lebih luas, sekaligus memungkinkan efisiensi dan efektivitas                    enabling efficiency and effectiveness of its marketing because the
pemasarannya karena perusahaan memiliki lebih banyak sarana                    company has more means to convey messages to consumers.
untuk menyampaikan pesan kepada konsumen.




                                                    Finansial
                                                    Optimasi biaya melalui cost-cutting dan
                                                    cost-reduction berdasarkan analisa terukur.

                                                    Financial
        Pelanggan
                                                    Cost optimization through cost-cutting and                       Internal
        Mendorong praktek usaha yang
                                                    cost-reduction based on measured analysis.                       Penggunaan AI sebagai salah satu
        positif melalui:
                                                                                                                     cara untuk menganalisa pasar di
        Edukasi dan sosialisasi terhadap
                                                                                                                     tahun 2024, juga saluran digital
        end-user dan implementasi akan
                                                                                                                     lainnya untuk informasi produk
        brand awareness komitmen.

        Customer
                                              Visi & Strategi                                                        pipa baja.

                                                                                                                     Internal
        encourage a positive business            Vision & Strategy                                                   The use of AI as a means to analyze
        practices through education and
                                                                                                                     the market by 2024, as well as other
        socialization to end-users and
                                                                                                                     digital channels to get information
        implement our commitment to
                                                  Innovation                                                         on steel pipes.
        brand awareness.
                                                  Optimalisasi penggunaan teknologi untuk
                                                  kegiatan Perusahaan termasuk pemasaran,
                                                  rapat perusahaan, dan inspeksi.

                                                  Innovation
                                                  Optimized use of technology in every activity
                                                  of the company including marketing, corporate
                                                  meetings, and inspection activities.




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  Strategi Tahun 2024 | Strategies in 2024

  Optimasi Biaya Operasional                                                Operational Cost Optimization
  Perseroan mengeluarkan belanja modal yang terukur berdasarkan             The Company made measured capital expenditures based on an
  analisis kondisi yang terjadi saat itu. Optimasi biaya juga dilakukan     analysis of the current conditions. The cost optimization was
  melalui pengawasan likuiditas yang ketat, di antaranya melalui cost       achieved by strict liquidity monitoring, including cost cutting and cost
  cutting dan cost reduction.                                               reduction.


  Perkiraan Permintaan Akurat dalam Mengatur Inventory                      Accurate Demand Forecasting in Inventory Management
  Dalam menghadapi volatilitas harga komoditas dan ancaman inflasi           As we were faced with the volatility of commodity price and the threat
  dibutuhkan pengambilan keputusan lebih cepat, yang mengarah               of inflation, it was necessary for us to accelerate the decision-making
  pada adaptasi terhadap perubahan pasar lebih cepat. Perseroan             process, which might lead to a faster adaptation to market changes.
  bergerak cepat mengamati sektor-sektor bisnis yang tumbuh pesat           The Company managed to make prompt decisions about business
  dalam pemulihan ekonomi dan mendorong penggunaan pipa baja.               sectors that maintained a fast growth during the economic recovery
                                                                            and allowed an increased use of steel pipes.


  Mengaktifkan persediaan safety stock                                      Safety stock inventory Activation
  Skala ekonomis dan pengalaman panjang Perseroan selama lebih              The company's economies of scale and over 50 years of extensive
  dari 50 tahun memberi kemudahan dalam memperoleh bahan baku               experience facilitate timely procurement of large quantities of raw
  tepat waktu dalam jumlah besar dan akses pembiayaan dari                  materials and access to financing from suppliers. The company is
  pemasok. Perseroan mempersiapkan momentum pembangunan                     gearing up for national development dynamics that will positively
  nasional yang berdampak positif pada sektor infrastruktur dan             impact the infrastructure and construction sector.
  konstruksi.


  Digitalisasi Sumber Daya Manusia                                          Digitalization of Human Resources
  Perseroan menjalankan program digitalisasi kepada seluruh                 The Company run a digitalization program for all employees. In 2023,
  karyawan. Tahun 2023, tenaga penjual dan pemasar telah                    the salespeople and marketers began using available digital channels
  menggunakan saluran digital yang tersedia untuk informasi produk,         to disseminate information about product description and availability,
  ketersediaan produk, kapasitas produksi dan pemasaran produk. Ke          production capacity, and marketing. In the foreseeable future, the
  depannya, program ini juga akan menjangkau semua hal yang                 program will also cover many other aspects relating to employee
  berkaitan dengan kepentingan kar yawan, termasuk unit                     interests, including the Occupational Health and Safety (OHS) unit.
  Keselamatan & Kesehatan Kerja (K3).


  Perluasan Jangkauan Pasar                                                 Market Expansion
  Saat ini pasar utama yang dilayani oleh Perseroan adalah:                 The main markets that the Company have now served are
  “Infrastruktur, konstruksi dan utilitas”, “minyak dan gas”, “otomotif”,   infrastructure, construction and utilities; oil and gas; automotive; and
  dan “perabot / furnitur”. Tahun 2024, Perseroan telah merintis            furniture. In 2024, the Company had started to offer services for
  layanan untuk sektor-sektor di bidang pertanian, perikanan,               agriculture, fisheries, warehousing, telecommunications, IT, and other
  pergudangan , telekomunikasi, IT, hingga sektor lainnya.                  sectors.




          Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan          Referensi                      Laporan Keuangan               85
          Corporate Governance            Corporate Social Responsibility        References                     Financial Statements             4
Page 94
                                                                                                                             2024 Annual Report




Keunggulan Bersaing | Competitive Advantage

     Structural Pipes                                      Oil & Gas Pipes                                         Water Pipes




Citra Merek yang Kuat | Strong Brand Image
Merek SPINDO® memiliki sejarah sejak tahun 1971 sebagai produsen pipa          The SPINDO® brand has a history since 1971 as a manufacturer of high quality
baja berkualitas tinggi dan telah terpercaya hingga kini. Perseroan memiliki   steel pipes and has been trusted to date. The Company has a history of more
sejarah lebih dari 50 tahun dalam membina hubungan dengan pelanggan            than 50 years in building relationships with customers and suppliers, both
dan pemasok, baik dari dalam dan luar negeri.                                  domestic and foreign.




Produsen Terkemuka | Leading Manufacturer
Perseroan dibangun dengan historis manufaktur utama yang terpercaya di         The Company was held with reliable historical as a major manufacturing in
Indonesia. Perseroan telah membina hubungan dekat dengan berbagai              Indonesia. The Company has close relationships with many domestic and
pemasok internasional dan domestik. Sebagai pemasok utama, kami memiliki       international suppliers. As a major supplier, we have economies of scale that
skala ekonomi yang memungkinkan perseroan untuk mendapat pasokan               enables companies to get the best raw material supplies, economic price and
dengan bahan terbaik, harga ekonomis dan ketersediaan tepat waktu.             on time availability.




Beragam Produk Pipa Baja | Wide Range of Steel Pipe Products
Perseroan memiliki 38 lini produksi untuk memproduksi berbagai jenis pipa      The Company has 38 production lines to manufacture various types of pipes
yang dibutuhkan oleh para pelanggan untuk berbagai sektor. Perseroan juga      required by customers for various sectors. The Company is also capable of
mampu memproduksi pipa baja dengan panjang hingga 72 meter tanpa               producing steel pipes with lengths of up to 72 meters without joints and
sambungan dan pipa baja dengan diameter hingga 3,2 meter, serta ketebalan      diameters up to 3.2 meters, and also a thickness of 25 mm which is the thickest
25 mm yang merupakan spesifikasi paling tebal untuk mesin SAW di               specification for SAW machine in Indonesia.
Indonesia.




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                          Stainless Steel                                              Steel Poles                                                      GI Poles
                                    Ornamental Tubes
                                      Industrial Pipes




  Lokasi yang Strategis | Strategic Location
  Untuk melayani permintaan domestik, lokasi produksi perseroan berada di             To serve the domestic demand, the company's production location is located
  beberapa lokasi strategis. Sejak tahun 2017 hingga 2022, Perseroan                  in several strategic locations. From 2017 to 2022, the Company has grown
  berkembang pesat dengan memiliki beberapa gudang distribusi di Jakarta              rapidly by having several distribution warehouses in West Jakarta, Bandung,
  Barat, Bandung, Samarinda, Makassar serta kantor perwakilan di Semarang             Samarinda, Makassar as well as representative offices in Semarang and
  dan Pekanbaru untuk melayani permintaan pipa baja di lokasi-lokasi proyek           Pekanbaru to serve demand for steel pipes in project locations spread
  yang tersebar di seluruh wilayah Indonesia.                                         throughout Indonesia.




  Tim Profesional & Berpengalaman | Professional & Experienced Team
  Tim manajemen dan tim teknis Perseroan terdiri dari orang-orang yang                Our management team & technical experts combine extensive industry
  berpengalaman dalam industri manufaktur pipa baja. Tim senior manajemen             experience with a proven track record of operating and expanding our steel
  Perseroan memiliki rata-rata lebih dari 5 tahun pengalaman dalam industri           pipe manufacturing business. The members of our senior management each
  manufaktur pipa baja melalui pelatihan yang intensif, dimana sebagian ber-          have more than five years of experience in the steel pipe manufacturing
  pengalaman dalam kapasitas bisnis manajemen, sebagian dalam kapasitas               industry through intensive training, some in engineering capacities, some in
  engineering dan sebagian lainnya berpengalaman dalam bidang keduanya.               business capacities and some in both.




  Berbasis di Negara Berkembang | Based in Developing Country
  Perseroan berbasis di Indonesia, sebuah negara dengan demografi usia                The Company is based in Indonesia, a country with abundant production
  produktif yang melimpah yang berpotensi meningkatkan pertumbuhan                    demographics capable of stimulating economic growth. This country has a
  ekonomi. Negara ini memiliki basis konsumsi domestik yang besar;                    large basis of domestic consumption; Improve the growth of salary and job
  Pertumbuhan upah dan prospek kerja yang membaik sangat mendukung                    prospects greatly support for economic growth in Indonesia. The consumption
  peningkatan ekonomi di Indonesia. Konsumsi baja per kapita di Indonesia juga        of steel per capita in Indonesia is also relatively lower than other Asian
  relatif lebih rendah dibandingkan negara asia lainnya, sehingga memiliki            countries, so it has great potential in the future.
  potensi yang besar di masa mendatang.




           Tata Kelola Perusahaan                 Tanggung Jawab Sosial Perusahaan           Referensi                            Laporan Keuangan            87
           Corporate Governance                     Corporate Social Responsibility         References                           Financial Statements          4
Page 96
                                                                                                                             2024 Annual Report



Kegiatan Pemasaran | Marketing Do
Perseroan selama lebih dari 50 tahun telah berhasil menjaga                   The Company for more than 50 years has succeeded in maintaining
kepercayaan pelanggan dengan komitmen pada kualitas produk dan                customer trust with a commitment to quality products and services.
jasa layanan. Perseroan mampu memberi kepastian ketersediaan                  The company is able to ensure the availability of supply and delivery.
pasokan dan pengiriman.


Pasar produk pipa baja Perseroan adalah multisegmen, sehingga                 The market for the Company's steel pipe products is multisegmented,
masing-masing pasar memiliki informasi pesan dan produk yang                  so that each market has different product and message information.
berbeda. Perseroan menyampaikan pesan dan konten yang sesuai                  The Company delivers messages and content that are in accordance
dengan keinginan dan kebutuhan yang ditentukan oleh masing-                   with the wants and needs determined by each market.
masing pasar.



                       Main Issue                           Business Challenge                                          SPINDO Do

Kondisi Perubahan Pasar yang Cepat          Tumbuhnya Kekuatan Konsumen                                Ÿ Memantau dan mengumpulkan data yang
Kondisi pasar yang selalu berubah, saat     Kemampuan untuk memprediksi tren                             akurat untuk merespons setiap tren dengan
ini berkembang semakin cepat dan            konsumen, tren pasar, dll. sangat penting                    cepat dan akurat.
instan karena tren digitalisasi di          dalam menyikap perubahan iklim ekonomi.                    Ÿ Membuat stok untuk spesifikasi pipa baja yang
masyarakat.                                 Pe rs e ro a n h a r u s m e n g a m b i l s e t i a p       selalu laku.
                                            keputusan dengan cepat untuk beradaptasi                   Ÿ Menjadi Market Driver.
                                            dan bertransformasi sesuai tren pasar.


Rapid Shifting-Market Condition             The Growing Power of Consumers                             Ÿ Monitoring and collecting accurate data to
Market conditions that are always           Being able to predict consumer trends,                       response any trends quickly and accurately.
changing, are currently developing faster   market trends, etc. is vital to a changing                 Ÿ Made to stock for fast-moving of steel pipes
and more instantaneously due to the         economic climate. The company must make                      specification.
trend of digitalization in society.         every decisions quickly to adapt and                       Ÿ Being a Market Driver
                                            transform according to market trends.


Informasi yang cepat dan berlebihan         Produk Instan                                              Ÿ Memberikan informasi yang jelas & tepat yang
Kecepatan dan kelebihan informasi           Konsumen menginginkan barang dan jasa                        mudah diakses oleh konsumen dengan adanya
akibat digitalisasi yang berkembang saat    yang dapat diterima dengan cepat. Proyek-                    Marking pada setiap produk;
ini sangat mempengaruhi perilaku            proyek diharapkan dapat diselesaikan                       Ÿ Lokasi gudang dan depo, ser ta kantor
pelanggan.                                  dengan tenggak waktu yang relatif singkat.                   perwakilan Perseroan di beberapa daerah
                                                                                                         dapat menjamin ketersediaan barang dan
                                            Persaingan Harga                                             melayani kebutuhan pelanggan dan proyek
                                            Perseroan menghadapi pesaing dengan                          dengan cepat;
                                            biaya unit yang lebih rendah sehingga harus                Ÿ Skala ekonomis Perusahaan dengan unit
                                            berupaya mengimbangi tren tersebut untuk                     barang atau jasa yang lebih banyak dapat
                                            tetap dapat menghasilkan profit.                              diproduksi dalam skala yang lebih besar
                                                                                                         dengan (rata-rata) biaya input yang lebih
                                            Layanan Penjualan yang responsif                             sedikit. Produk pipa baja Perseroan memiliki
                                            Konsumen hanya bersedia melakukan                            kualitas tinggi dengan harga yang terjangkau.
                                            pembelian pada layanan yang responsif.                     Ÿ Fokus pada ikatan emosional dan mendekat-
                                            Kemudahan untuk mendapatkan informasi                        kan dengan end-user dengan aktif
                                            tentang spesifikasi produk dengan detail                      mengadakan acara Customer Gathering,
                                            dan mudah dimengerti.                                        mengikuti pameran dan kunjungan berkala ke
                                                                                                         end-user atau proyek-proyek.



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                     Main Issue                                Business Challenge                                  SPINDO Do

  Fast and overload of information                 Instant Products                                    Ÿ Providing clear & precise information that is
  Fast and overload of information as a            Consumers want goods and services that               easily accessible to consumers with markings
  result of digitalization that is developing      can be received quickly. Projects are                on each product;
  at this time greatly influences customer          expected to be completed within a relatively        Ÿ Locations of warehouses and store, as well as
  behavior.                                       short deadline.                                       the Company's representative offices in several
                                                                                                        areas can ensure the availability of goods and
                                                  Price competition                                     serve the needs of customers and projects
                                                  The company faces competitors with lower              quickly;
                                                  unit costs, so it must try to offset this trend in   Ÿ The Company's economies of scale with more
                                                  order to continue to generate profits.                 units of a good or service can be produced on a
                                                                                                        larger scale with (on average) fewer input
                                                  Responsive Sales Service                              costs. The Company's steel pipe products are
                                                  Consumers are only willing to make                    of high quality at affordable prices.
                                                  purchases on responsive services. Ease of            Ÿ Focus on emotional bonding and getting closer
                                                  getting information about product                     to end-users by actively holding Customer
                                                  specifications in detail and easy to                   Gathering events, participating in exhibitions
                                                  understand.                                           and regular visits to end-users or projects.


  Saluran Penjualan Baru                          Beragam Saluran                                      Ÿ Perseroan telah melakukan sosialisasi digital
  Akses internet dan teknologi membuka            Saluran yang tersedia beragam dan                     kepada setiap karyawan, terutama divisi
  peluang saluran-saluran informasi baru.         membutuhkan cukup waktu untuk                         pemasaran dan penjualan. Setiap karyawan
  Komunikasi antara produsen dan                  pengenalan penggunaan yang efektif.                   diharapkan dapat mudah mengakses dan
  pelanggan tidak lagi searah namun dapat         Setiap kanal memiliki target pemirsa yang             menggunakan semua saluran yang tersedia
  dilakukan secara simultan dari semua-           berbeda serta cepat pasang surut.                     untuk memperkenalkan produk SPINDO.
  nya.                                                                                                 Ÿ Saat ini Perseroan belum memberikan
                                                  Dampak Influencer                                      kebijakan dukungan bagi personal Influencer,
                                                  Personal Influencer yang muncul tiba-tiba              namun Perseroan telah memberikan
                                                  dapat membawa pengaruh positif atau                   dukungan bagi toko atau distributor untuk
                                                  negatif bagi Perseroan tanpa dapat                    saling berbagi dalam iklan dan pelatihan
                                                  diprediksi.                                           tenaga penjual toko.


  New Sales Channel                               Multiple Channels                                    Ÿ The Company has carried out digital
  Internet access and technology open up          The available channels vary and it will take          socialization to every employee, especially the
  new channels of information.                    time for recognition to be effective. Each            marketing and sales divisions. It is expected
  Communication between producers and             channel has a different target audience and           that every employee can easily access and use
  customers is no longer unidirectional but       fast ebb and flow.                                     all available channels to introduce SPINDO
  can be done simultaneously from all of                                                                products.
  them.                                           Influencer Impact                                     Ÿ Currently the Company has not provided a
                                                  Personal Influencers who appear suddenly               support policy for personal Influencers, but the
                                                  can bring positive or negative influences to           Company has provided support for stores or
                                                  the Company without being predictable.                distributors to share in advertising and training
                                                                                                        for store salespeople.




          Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan                Referensi                    Laporan Keuangan                 89
          Corporate Governance             Corporate Social Responsibility              References                   Financial Statements               4
Page 98
                                                                                                                   2024 Annual Report




Pendekatan End-User | Approach to End-User

Tahun 2024, Pendekatan kepada end-user menjadi poin utama                In 2024, the focus of steel pipe products will be on the end user.
dalam produk pipa baja. Pasar Indonesia masih memiliki pandangan          The Indonesian market still regards steel pipes as commodities, so in
bahwa pipa baja sebagai komoditas, sehingga dalam persaingan             product competition, the lowest price is always prioritized regardless
produk lebih diutamakan harga terendah tanpa memperhatikan               of quality. The company always strives to educate users about
kualitas. Perseroan selalu berusaha mengedukasi end-user tentang         product specifications, functions and durability as well as the benefits
spesifikasi produk, fungsi dan ketahanan, serta manfaat produk            of quality products.
berkualitas.


Seminar & Pameran SPINDO | SPINDO Seminar & Exhibition

Pendekatan Perseroan kepada end-user diwujudkan dengan turut             The Company’s approach to end users is demonstrated by its active
aktif dalam berbagai pameran dalam negeri yang diadakan institusi        participation in numerous national exhibitions organized by private
swasta maupun pemerintah. Berikut beberapa pameran yang telah            and government organizations. The following are some of the
diikuti oleh Perseroan sepanjang tahun 2024:                             exhibitions the Association participated in during 2024:

No.      Tanggal | Date                                    Seminar & Pameran | Seminar & Exhibition                                 Lokasi | Venue


1.       5 Juni | June 2024                    Musyawarah Nasional Gabungan Pelaksana Konstruksi Indonesia (GAPENSI)                        Jakarta
                                               National Conference of the Indonesian National Contractors Association
2.       6 Juli | July 2024                    Seminar & Pameran IKEI BPP Sumatra Utara                                                     Medan
                                               IKEI BPP North Sumatra Seminar & Exhibition
3.       10 Juli | July 2024                   Pameran ISSC (Indonesian Society of Steel Construction)                                      Jakarta
                                               ISSC (Indonesian Society of Steel Construction) Exhibition
4.       7 Agustus | August 2024               Pameran IndoBuildTech 2024                                                                Tangerang
                                               IndoBuildTech 2024 Exhibition
5.       11 September | September 2024         Pameran Indonesia energy & Engineering Series 2024 (IEE)                                     Jakarta
                                               Indonesia energy & Engineering Series 2024 (IEE) Exhibition
6.       6 November | November 2024            Pameran Konstruksi Indonesia                                                              Tangerang
                                               Indonesian Construction Exhibition




                                                                                                                                                1 2 3
                                                                                                                                                4 5 6

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Page 99
Laporan Tahunan 2024




  Acara Temu Pelanggan SPINDO | SPINDO Customer Gathering

  Perseroan aktif melakukan customer gathering di daerah-daerah                       The company actively organizes customer meetings in the regions
  sebagai upaya untuk mengakuisisi pelanggan (customer acquisition)                   with the aim of attracting customers (customer acquisition) and
  sekaligus meretensi pelanggan (customer retention). Selain                          retaining customers (customer retention). In addition to collecting
  memperoleh umpan balik pelanggan, Perseroan juga memperoleh                         customer feedback, the company also collects accurate information
  informasi yang akurat dari kondisi retail pipa baja untuk setiap daerah.            on the retail situation of steel pipes in each region.


  Perseroan bekerja sama dengan distributor daerah atau toko yang                     The company cooperates with regional distributors or stores
  memiliki total komitmen menjual pipa baja SPINDO untuk                              committed to selling SPINDO steel pipes to invite all customers who
  mengundang seluruh pelanggan toko, lokakarya (bengkel) pengguna                     are stores, workshops using steel pipes and contractors.
  pipa baja dan kontraktor.
                                                                                      They receive information on the technical specifications of steel pipes
  Mereka diberikan informasi tentang spesifikasi pipa baja beserta uji                as well as comparative testing of the capabilities of steel pipe
  perbandingan kemampuan produk pipa baja. Acara ini bertujuan                        products. This event is intended to help customers better understand
  untuk memberikan pemahaman yang lebih baik kepada pelanggan                         the quality and standards of SPINDO steel pipes, so that customers
  mengenai kualitas dan standar pipa baja produksi SPINDO, sehingga                   do not make the wrong choice when deciding to choose their
  pelanggan tidak salah pilih dalam menentukan pilihan produk; Saat ini               products; Currently, there are many substandard steel pipe products
  marak produk pipa baja yang tidak sesuai standar di pasaran.                        on the market.


  Permintaan Customer Gathering tersebut dapat ditujukan kepada                       Customer gathering requests can be directed to SPINDO's marketing
  Divisi Marketing SPINDO, dengan tim yang siap mendukung acara                       department, with a team ready to support events across Indonesia.
  tersebut di seluruh Indonesia.




  Padang, Sumatra Barat                   Makassar, Sulawesi Selatan            Medan, Sumatra Utara               Demak, Jawa Tengah
  14 Januari | January 2024               24 Februari | February 2024           24 Februari | February 2024        15 Mei | May 2024




  Blitar, Jawa Timur                                                  Karawang, Jawa Barat                           Ponorogo, Jawa TImur
  26 Mei | May 2024                                                   19 Juni | June 2024                            28 Juni | June 2024




           Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan                     Referensi                      Laporan Keuangan            91
           Corporate Governance            Corporate Social Responsibility                   References                     Financial Statements          4
Page 100
                                                                                                                  2024 Annual Report




     Lamongan, Jawa Timur                                       Pekanbaru, Riau
     19 Juli | July 2024                                        3 Agustus | August 2024




     Kendari, Sulawesi Tenggara                                        Palembang, Sumatra Selatan
     21 Agustus | August 2024                                          25 Agustus | August 2024




     Makassar, Sulawesi Selatan                                        Tuban, Jawa Timur
     22 September | September 2024                                     25 Agustus | August 2024




     Bojonegoro, Jawa Timur                                                                  Surakarta, Jawa Tengah
     29 September | September 2024                                                           28 Oktober | October 2024




92                         Ikhtisar Utama   Laporan Manajemen                       Profil Perusahaan              Analisa & Pembahasan Manajemen
 4                           Highlights     Management Report                       Company Profile                Management Discussion & Analysis
Page 101
Laporan Tahunan 2024



  Proyek-Proyek
  Projects




                                         [01] Pipeline IAE Gresik | [02] Dermaga FT Luwuk & FT Raha di Sulawesi Tenggara | [03] Batu Hijau Expansion Project
                                 [04] JAB Bendungan Paselloreng – Wajo | [05] Proyek Sumbawa Timur Mining | [06] Rehabilitasi Pelabuhan Penyeberangan Pananaru


  No.                                    Proyek | Project                                                                                            Pemesan | Orderer

  1.    JAB Bendungan Paselloreng – Wajo                                                                                             PT Indobangun Megatama
  2.    Project Timor Leste                                                                                                          PT Waskita Karya
  3.    Project Infra Site Tuhup                                                                                                     PT Bukit Makmur Mandiri Utama
  4.    Proyek Outer Ring Road IKN                                                                                                   Adhi - Surya Bakti - Laut Permata
  5.    Coal Crushing System & Loading Terminal di Tanah Grogot                                                                      PT Wijaya Karya Rekayasa Konstruksi
  6.    Intalasi Pengolahan Air Brayan Kapasitas 500lt/dt                                                                            PT Nindya Karya
  7.    Pembangunan Jetty Pulau Bunyu                                                                                                PT Parahita Intiraya
  8.    Proyek KIK Kendal                                                                                                            PT Panca Indah Jayamahe
  9.    Proyek Adaro B2B                                                                                                             PT Pamitra Jaya Konstruksi
  10.   Pipeline IAE Gresik                                                                                                          PT Panca Indah Jayamahe
  11.   Tanki Adaro 2 x 2500 KL                                                                                                      PT Pamitra Jaya Konstruksi
  12.   Proyek COO Pipa Papua                                                                                                        PT Ramai Jaya Abadi
  13.   Project SOFIFI                                                                                                               PT Wijaya Inti Nusa Sentosa
  14.   Rehabilitasi Pelabuhan Penyeberangan Pananaru                                                                                PT Citra Arya Persada
  15.   Proyek Lewoleba 2024                                                                                                         PT Wijaya Inti Nusa Sentosa
  16.   Proyek Sapudi 2024                                                                                                           PT Karya Dwiputra Indonesia
  17.   Proyek Namlea 2024                                                                                                           PT Pilar Atmoko Konstruksi
  18.   Proyek REO 2024                                                                                                              PT Pilar Atmoko Konstruksi
  19.   Lanjutan Faspel Laut Luwuk                                                                                                   PT Esprezza Cipta Griya
  20.   MOPH Project                                                                                                                 Freeport Indonesia
  21.   Project Infrasite Telen Bridge                                                                                               PT Bukit Makmur Mandiri Utama
  22.   Proyek Ba’a 2024                                                                                                             PT Pilar Atmoko Konstruksi
  23.   Batu Hijau Expansion Project                                                                                                 PT McConnell Dowell Indonesia
  24.   KIT Batang (testpile)                                                                                                        Adhi - Heksa
  25.   Dermaga FT Luwuk & FT Raha di Sulawesi Tenggara                                                                              PT Family Bangun Darmo Perkasa
  26.   Proyek Lanjutan Pembangunan Faspel Laut Agats - Papua                                                                        PT Mitra Tirta Raya
  27.   Proyek Lanjutan Pembangunan Faspel Laut Matui – Maluku Utara                                                                 TUC - MTR
  28.   Proyek DPPU Bandara Dhoho Kediri                                                                                             WIKA - Aluphi KSO
  29.   Pembangunan JDU SPAM Regional Wosusokas                                                                                      PT Brantas Abipraya
  30.   Pembangunan Jalan Baru Kretek - Girijati                                                                                     Waskita - PP JO
  31.   Proyek Jembatan SIDRAP di Sulawesi Selatan                                                                                   PT Bumi Karsa
  32.   Proyek Dermaga Site Rimau – Lampung Selatan                                                                                  PT Senamas Energindo Mineral


        Tata Kelola Perusahaan                   Tanggung Jawab Sosial Perusahaan                         Referensi                                Laporan Keuangan        93
        Corporate Governance                       Corporate Social Responsibility                       References                               Financial Statements      4
Page 102
                                                                                                                                                  2024 Annual Report




                                 [07] Revitalisasi Dermaga Gospier Surabaya | [08] SPAM Jatiluhur | [09] Proyek Dermaga Batu Bara – PT Pupuk KalTim
                              [10] Project Dermaga Tanjung Wangi (Tambahan) | [11] SPAM Jatiluhur | [12] Proyek Dermaga Batu Bara – PT Pupuk KalTim



No.                                     Proyek | Project                                                                                      Pemesan | Orderer

33.   Proyek PHR - EPC Facility GS Upgrade                                                                                    PT Nindya Karya
34.   Project Dermaga MIDAI – Kep. Riau                                                                                       Pilar Atmoko Nusantara KSO
35.   Proyek Jembatan Pandansimo                                                                                              Adhi - SWS KSO
36.   Proyek Dermaga Pasipalele                                                                                               PT Wijaya Inti Nusa Sentosa
37.   Proyek Sumbawa Timur Mining                                                                                             PT Sumbawa Timur Mining
38.   Proyek Nickel Kendari                                                                                                   PT Adhi Kartiko Pratama
39.   Proyek Shiplift Block A-B PT. PAL                                                                                       PT PP (Persero), Tbk
40.   Project Dermaga Tanjung Wangi (Tambahan)                                                                                PT Bentang Alam Nusantara
41.   Proyek Pipeline PT. LNG                                                                                                 PT Panca Indah Jayamahe
42.   Pembangunan jaringan air baku IKK Tiris, Probolinggo                                                                    CV Diajeng
43.   Upgrading pipa discharge dermaga FT Terminal Tual                                                                       PT Colombia Jaya Utama
44.   Perbaikan pipa + tangki FT Moutong                                                                                      PT Teratai Lima Makassar
45.   Proyek Perbaikan Tangki di FT Pulang Pisau                                                                              PT Delta Median
46.   Proyek Pembangunan Dermaga Kap. 50.000 di FT Biak                                                                       PT PP (Persero), Tbk
47.   Proyek Jalan Lingkar Kota Muara Teweh                                                                                   PT Prestasi Karya Mulia
48.   SPAM Jatiluhur                                                                                                          Wika - Jaya Konstruksi KSO
49.   Renovasi Stadion Kanjuruhan                                                                                             PT Trust Artha Konstruksi
50.   Jembatan Sesulu Gunung Batu 2 Penajam                                                                                   CV Fauza Rama jaya
51.   Proyek Dermaga NTB                                                                                                      CV Ayyubi Pratama
52.   Proyek Penanganan Longsor Kantor DPRD Sisi Kiri di Murung Raya Kal-Teng                                                 CV Mitra Prospek
53.   Proyek Gorong-gorong PT Ganda Alam Makmur                                                                               PT Ganda Alam Makmur
54.   Proyek Pembangunan SPAM Reg Segmen 2 Wosusokas                                                                          Wika - Gemilang JO
55.   Proyek Pembangunan Terminal LPG Refrigerated Jawa Timur (Tahap-2),                                                      PT Wijaya Karya
      Tuban, Jawa Timur
56.   Proyek Pembangunan Jaringan IPA Sepaku Semoi ke IPA Sepaku                                                              Wika - Gemilang KSO
57.   Pembangunan Jaringan Perpipaan Air Limbah 2 Kawasan IKN                                                                 Adhi - Abipraya KSO
58.   Proyek Dermaga Batu Bara – PT Pupuk KalTim                                                                              PT Anta Jaya Utama
59.   Proyek Jetty Multipurpose Wanam Merauke                                                                                 PT Wika Rekon
60.   Project PT Freeport Indonesia                                                                                           PT Freeport Indonesia
61.   Proyek Pembangun Jetty Baru di IT Manggis                                                                               PT Wijaya Karya
62.   Proyek Pekerjaan Coal Handling System Line 3 Bunati Kal-Sel Proyek                                                      PT Wika Rekon
63.   Revitalisasi Dermaga Gospier Surabaya                                                                                   PT Wijaya Karya


94                  Ikhtisar Utama                            Laporan Manajemen                               Profil Perusahaan                        Analisa & Pembahasan Manajemen
 4                    Highlights                              Management Report                               Company Profile                          Management Discussion & Analysis
Page 103
Laporan Tahunan 2024




   4 Key Market

                                                Oil & Gas


                                                                                                                  Furniture




                                                                                                               Automotive
                           Construction,
                           Infrastructure & Utilities




         64%                                           58%                             17%                                             19%
             2023                                         2024                         2023                                            2024

   Construction, Infrastructure & Utilities                                 Furniture
   Applications :                          Electrical poles & conduits      Applications :           Chairs (incl. wheelchairs)           Kettles
   Piling pipes                            Fire hydrant (sprinklers)        Bicycles                 Hospital beds                        Stoves
   Structural pipes (for pillars)          Power & water treatment plants   Trolleys                 Towel Racks                          Broomsticks
   Scaffolding                             Water pipes                      Baby walkers             Clothes hangers                      Desks




          17%                                           18%                             2%                                             5%
             2022                                         2024                         2022                                            2024

   Automotive                                                               Oil & Gas
   Applications on motorcycle              Motorcycle frames                Applications :
   and car parts including :               Shock absorbers                  Transmission & distribution of
   Car seat frames                         Cylinders & mufflers             oil & gas pipelines




           Tata Kelola Perusahaan     Tanggung Jawab Sosial Perusahaan           Referensi                       Laporan Keuangan                 95
           Corporate Governance         Corporate Social Responsibility         References                      Financial Statements               4
Page 104
                                                                                                           2024 Annual Report



Kinerja Penjualan
Performance of Sales



Nilai Penjualan | Sales in Value
[Mio.IDR]
                                                             2024         2023                 2022        2021                  2020

  Strips & Plates                                          590,299       542,714              608.522     560.621               624.845
  Spiral Pipes Non API                                     925,285      1,224,344           1.163.689     879.118               529.783
  Spiral Pipes API                                           97,851       18,573                50.784         383                            -
  Water Pipes                                              868,827       965,925              892.295     900.314               727.943
  Black Pipes Non API                                    1,183,444      1,413,844           1.170.643    1.125.091              625.550
  Black Pipes API                                          184,719        89,246              106.505      38.222                 14.111
  Mechanical Tubes                                         983,419      1,031,594             982.438     806.525               513.390
  Furniture Tubes                                          719,171       726,428              791.744     675.537               516.707
  Stainless Steel Tubes & Pipes                            301,689       274,034              216.550     141.907                 61.401
  Steel Poles                                              225,731       142,661              227.775     187.552                 88.109
  Services & Others                                          37,929       25,966                45.000     63.538                 61.401
                          (*)



  Total Sales (in IDR mio)                              6.120.388       6.457.352           6.255.945    5.378.808            3.775.530
(*) for services & other are excluded scrap sales




96                          Ikhtisar Utama          Laporan Manajemen               Profil Perusahaan       Analisa & Pembahasan Manajemen
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Laporan Tahunan 2024




  Performa Penjualan per Wilayah | Regional Sales Performance
  Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain
  Expressed in million of Rupiah, unless otherwise stated

             Jawa Timur                                                                     Jawa Tengah & Yogyakarta
             East Java                                                                      Central Java & Yogyakarta




                                                                                2023 2024
 2023 2024




                                           1.968.307                                              355.321

                                           2.117.865                                            302.068


             DKI Jakarta                                                                    Jawa Barat & Banten
                                                                                            West Java & Banten

                                                                                2023 2024
 2023 2024




                                           1.837.040                                                              1.088.604

                                           1.932.822                                                              1.211.696


             Wilayah Sumatra                                                                Wilayah Sulawesi
             Sumatra Region                                                                 Sulawesi Region
 2023 2024




                                                                                2023 2024




                  179.871                                                                        168.410

                  177.120                                                                        213.562


             Wilayah Kalimantan                                                             Wilayah Lainnya
             Kalimantan Region                                                              Others
 2023 2024




                                                                                2023 2024




                   238.138                                                                      105.744

                   195.880                                                                      61.457


             Total Penjualan Lokal
             Total Domestic Selling
 2023 2024




                                                                                                                        5.941.435

                                                                                                                        6.212.470


             Ekspor
             Export
 2023 2024




                      176.929

                      242.858


             Total Penjualan
             Total Selling
 2023 2024




                                                                                                                          6.118.364

                                                                                                                          6.455.329


                  Tata Kelola Perusahaan    Tanggung Jawab Sosial Perusahaan                          Referensi                 Laporan Keuangan      97
                  Corporate Governance        Corporate Social Responsibility                        References                Financial Statements    4
Page 106
                                                                                                                          2024 Annual Report



Tinjauan Operasional
Overview of Operational Performance


Dalam mengidentifikasi segmen operasi, manajemen melihat dari                In identifying the Company’s operating segments, the management
jenis usaha berdasarkan sifat produk dan jasa yang mewakili kegiatan        categorizes the Company’s business based on nature of the
utama usaha Perseroan yaitu pipa baja las lurus (pipa HFW), pipa            Company’s products and services that represent main activities of the
baja las spiral (pipa SSAW), strip dan plat serta jasa dan lain-lain.       Company's business: straight welded pipes (HFW), spiral welded
                                                                            pipes (SSAW), strips and plate and services and others.




Tinjauan Operasional per Segmen Usaha | Operation Review of Business Segment


Informasi konsolidasian berdasarkan segmen operasi adalah sebagai           The consolidated information based on operating segments is as
berikut:                                                                    follows:




Pipa HFW | HFW Pipe

Pipa HFW (High-Frequency Welded) memiliki hasil pengelasan yang             HFW (High-Frequency Welded) pipes’ welding results are in a
berbentuk lurus atau longitudinal dengan menggunakan resistensi             straight form or longitudinal form by employing a high-frequency
frekuensi tinggi (high-frequency resistance welding).                       resistance technique (high-frequency resistance welding).



                                                                                                       (Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)
                                                                                                     (Expressed in Millions of Rupiah, unless otherwise stated)
                                                                                                                    Pertumbuhan | Growth

Keterangan | Description                                2024                     2023                        Nominal                               %

Volume Produksi (ton)                                  236.452                  242.038                        (5.586)                            -2%
Production Volume (tons)
Penjualan dan Pendapatan Jasa                        4.467.000                4.643.731                     (176.731)                             -4%
Sales and Service Revenues
Beban Pokok Pendapatan                               3.659.529                3.875.316                     (215.787)                             -6%
Cost of Revenues
Laba Kotor                                             807.471                  768.415                        39.056                              5%
Gross Profit


Sepanjang tahun 2024 Perseroan mencatat volume produksi pipa                Throughout 2024, The Company recorded 236,5 thousand tons of
HFW sebanyak 236,5 ribu ton, turun 5,6 ribu ton atau 2%                     HFW pipes production volume, lower by 5.6 thousand tons or 2%
dibandingkan volume produksi tahun 2023 sebanyak 242 ribu ton.              compared to that in 2023 of 242 thousand tons.


Nilai penjualan pipa HFW tercatat sebesar Rp 4,5 triliun, turun 4%          HFW pipes sales values reached IDR 4.5 trillion, decreased by 4%
dibandingkan dengan nilai penjualan di tahun 2023 sebesar Rp 4,6            compared to the sales values in 2023 of IDR 4.6 trillion.
triliun.




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Laporan Tahunan 2024




  Turunnya nilai penjualan pipa HFW disebabkan karena turunnya              The decrease in the sales value of HFW pipes was due to the
  volume penjualan dan rata-rata harga jual, terutama untuk pipa            decrease in sales volume and average selling price, especially for
  mekanis, pipa hitam dan pipa air.                                         mechanical pipes, black pipes and water pipe.


  Beban Pokok Pendapatan untuk pipa HFW turun 6% dari Rp 3,88               Cost of Revenue for HFW pipes decreased by 6% from IDR 3.88
  triliun di tahun 2023 menjadi Rp 3,66 triliun di tahun 2024, atau turun   trillion in 2023 to IDR 3,66 trillion in 2024, or an increase of IDR 0.2
  Rp 0,2 triliun. Turunnya beban pokok pendapatan sejalan dengan            trillion. The decrease in cost of revenue was in line with the decrease
  turunnya volume dan harga material di tahun 2024.                         in sales volume and material prices in 2024.


  Laba Kotor untuk pipa HFW mengalami kenaikan sebesar 5% atau              Gross Profit for HFW pipes increased by 5% or Rp. 39 billion
  Rp 39 miliar jika dibandingkan dengan Laba Kotor tahun 2023.              compared to Gross Profit in 2023. The increased in Gross Profit was
  Kenaikan Laba Kotor ini disebabkan karena penurunan Beban Pokok           due to the decrease in Cost of revenue, thereby increasing the sales
  Pendapatan sehingga menaikkan margin penjualan.                           margins.




  Pipa SSAW | SSAW Pipes

  Proses pipa SSAW (Spiral Submerged Arc Welded) dengan meng-               The SSAW (Spiral Submerged Arc Welded) pipe method uses a spiral
  gunakan teknik las spiral, di mana lembaran baja dilas menjadi pipa       welding technology in which steel sheets are welded into steel pipes
  baja dalam bentuk spiral dan menggunakan filler kawat tembaga              in a spiral shape, with copper wire filler between the welded edges.
  antara tepi dilas.


                                                                                                     (Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)
                                                                                                   (Expressed in Millions of Rupiah, unless otherwise stated)
                                                                                                                  Pertumbuhan | Growth

  Keterangan | Description                                  2024                 2023                      Nominal                               %

  Volume Produksi (ton)                                     81.957                75.077                       6.880                             9%
  Production Volume (tons)
  Penjualan dan Pendapatan Jasa                         1.023.136             1.242.916                   (219.780)                           -18%
  Sales and Service Revenues
  Beban Pokok Pendapatan                                  838.190             1.037.246                   (199.056)                           -19%
  Cost of Revenues
  Laba Kotor                                              184.946               205.670                    (20.724)                           -10%
  Gross Profit


  Volume produksi pipa SSAW pada tahun 2024 tercatat sebanyak 82            In 2024, SSAW pipes production volume reached 82 thousand tons,
  ribu ton, naik 9% atau 7 ribu ton dibandingkan dengan volume              higher by 9% or 7 thousand tons compared to that in 2023 of 75
  produksi di tahun 2023 yang tercatat sebanyak 75 ribu ton.                thousand tons.




           Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan          Referensi                        Laporan Keuangan                     99
           Corporate Governance           Corporate Social Responsibility        References                       Financial Statements                   4
Page 108
                                                                                                                            2024 Annual Report




 Perseroan mencatat nilai penjualan pipa SSAW pada tahun 2024             The Company recorded sales value of SSAW pipes in 2024 of IDR
 sebesar Rp 1,02 triliun atau turun 18% atau Rp 220 miliar                1.02 trillion, decreased by 18% or IDR 220 billion compared to sales
 dibandingkan nilai penjualan di tahun 2023 yang tercatat sebesar Rp      value in 2023 which was recorded at IDR 1,24 trillion. The cost of
 1,24 triliun. Beban pokok pendapatan pipa SSAW juga tercatat             revenue of SSAW pipes also recorded to have decreased by 19% or
 mengalami penurunan sebesar 19% atau Rp 199 miliar, jika                 IDR 199 million, when compared to the cost of revenue in 2023 of IDR
 dibandingkan dengan beban pokok pendapatan di tahun 2023                 1.04 trillion.
 sebesar Rp 1,04 triliun.




 Strip dan Plat | Strips and Plates

 Perseroan memproduksi strip dan plat baja dengan cara gulungan           The Company manufactures steel strips and plates by placing steel
 baja dimasukkan ke mesin pemotong baja, yang kemudian dipotong           roles inside the steel cutting machine to be cut in strip/plate form of
 dalam bentuk strip/plat dengan berbagai ukuran, atau sesuai dengan       various sizes or according to the customers’ specifications. The
 spesifikasi pelanggan. Perseroan menjual strip dan plat baja              Company sells its steel strip and plate products directly to the end-
 langsung ke pengguna akhir, terutama industri konstruksi.                users, mainly to the construction industries.




                                                                                                         (Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)
                                                                                                       (Expressed in Millions of Rupiah, unless otherwise stated)
                                                                                                                      Pertumbuhan | Growth

 Keterangan | Description                             2024                      2023                           Nominal                               %

 Volume Produksi (ton)                               85.707                    65.925                            19.782                             30%
 Production Volume (tons)
 Penjualan dan Pendapatan Jasa                      590.299                   542.714                            47.585                               9%
 Sales and Service Revenues
 Beban Pokok Pendapatan                             483.594                   452.909                            30.685                               7%
 Cost of Revenues
 Laba Kotor                                         106.705                    89.805                            16.900                             19%
 Gross Profit



 Pada tahun 2024, Perseroan mencatat kenaikan sebesar 30% atau            In 2024, the Company recorded a increase of 30% or 20 thousand
 20 ribu ton untuk segmen Strip dan Plat, dimana volume produksi          tons for its strips and plates segment, whereas the production volume
 pada tahun 2024 tercatat sebanyak 86 ribu ton jika dibandingkan          in 2024 was recorded at 86 thousand tons compared to the
 dengan volume produksi di tahun 2023 sebanyak 66 ribu ton.               production volume in 2023 which was recorded at 66 thousand tons.


 Nilai penjualan untuk Strip dan Plat di tahun 2024 tercatat sebesar Rp   The sales value for Strips and Plates in 2024 was recorded at IDR 590
 590 miliar atau naik Rp 48 miliar atau 9% jika dibandingkan dengan       billion or increased by IDR 48 billion or 9% compared to the sales
 nilai penjualan di tahun 2023 yang tercatat sebesar Rp 543 miliar.       value in 2023 which was recorded at IDR 543 billion.




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  Beban pokok pendapatan untuk produksi strip dan plat tercatat             Cost of Revenue of for the production of Strips and Plates was
  mengalami kenaikan sebesar 7% atau Rp 31 miliar jika dibandingkan         recorded to have decreased by 7% or IDR 31 billion compared to the
  dengan beban pokok pendapatan di tahun 2023 yaitu sebesar Rp              cost of revenue in 2023, which was amounted to IDR 453 billion.
  453 miliar.




  Jasa dan Lain-Lain | Services and Others

  Selain memproduksi produk-produk tersebut di atas, Perseroan juga         Other than manufacturing the above-mentioned products, the
  memberikan jasa terkait dengan pipa baja. Jasa tersebut dilakukan         Company also offers services in relation to steel pipes. These services
  bila Perseroan memiliki kapasitas cadangan.                               are carried out when the Company has reserve capacity.


                                                                                                      (Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)
                                                                                                    (Expressed in Millions of Rupiah, unless otherwise stated)
                                                                                                                   Pertumbuhan | Growth

  Keterangan | Description                                  2024                 2023                       Nominal                               %

  Volume Produksi (ton)                                   12.572                  8.715                        3.857                            44%
  Production Volume (tons)
  Penjualan dan Pendapatan Jasa                           37.929                25.968                       11.961                             46%
  Sales and Service Revenues
  Beban Pokok Pendapatan                                  31.073                21.671                         9.402                            43%
  Cost of Revenues
  Laba Kotor                                                6.856                 4.297                        2.559                            60%
  Gross Profit


  Volume Produksi Jasa dan produk lain di tahun 2024 tercatat sebesar       The volume of production of Services and others in 2024 was
  12,6 ribu ton, atau mengalami kenaikan sebesar 44% atau 3,9 ribu          recorded at 12.6 thousand tons, or increased by 44% or 3.9 thousand
  ton dibandingkan dengan produksi jasa dan lain-lain di tahun 2023         tons compared to the production of services and others in 2023
  yang tercatat sebesar 8,7 ribu ton.                                       which was recorded at 8,7 thousand tons.


  Nilai penjualan jasa tercatat naik sebesar 46% atau Rp 12 miliar, dari    The sales value of services and others recorede increased by 46% or
  Rp 26 miliar di tahun 2023 menjadi Rp 38 miliar di tahun 2024.            Rp 12 billion, from Rp 26 billion in 2023 to Rp 38 billion in 2024.


  Beban pokok pendapatan untuk produk jasa tercatat sebesar Rp 31           The cost of revenue for service products was recorded at IDR 31
  miliar di tahun 2024 atau naik 43% dibandingkan beban pokok               billion in 2024 or increased by 43% compared to the cost of revenue
  pendapatan di tahun 2023 yang tercatat sebesar Rp 22 miliar.              in 2023 which was recorded at IDR 22 billion.


  Perseroan mencatatkan laba kotor dari penjualan jasa dan lain-lain        The company recorded a gross profit from the sale of services and
  sebesar Rp 6,9 miliar atau naik 60% atau Rp 2,6 miliar jika               others of IDR 6.9 billion, an increase of 60% or IDR 2.6 billion when
  dibandingkan dengan laba kotor di tahun 2023 yaitu Rp 4,3 miliar.         compared to the gross profit in 2023, which was IDR 4.3 billion.




          Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan          Referensi                         Laporan Keuangan                    101
          Corporate Governance            Corporate Social Responsibility        References                        Financial Statements                   4
Page 110
                                                                                                                       2024 Annual Report



 Tinjauan Keuangan
 Overview of Financial Performance


 Uraian mengenai kinerja keuangan ini disusun berdasarkan Laporan       This description of financial performance is prepared based on the
 Keuangan Konsolidasian Perseroan yang disajikan sesuai dengan          Company's Consolidated Financial Statements which are presented
 Pernyataan Standar Akuntansi Keuangan (PSAK) yang berlaku              in accordance with the Statement of Financial Accounting Standards
 umum di Indonesia untuk tahun buku yang berakhir pada tanggal 31       (PSAK) which are generally accepted in Indonesia for the financial
 Desember 2024.                                                         year ended 31 December 2024.


 Laporan keuangan tersebut telah diaudit oleh Kantor Akuntan Publik     The financial statements have been audited by Public Accounting
 Kanaka Puradiredja, Suhartono (member of Nexia International)          Firm Kanaka Puradiredja, Suhartono (member of Nexia International)
 dalam laporannya tertanggal 12 Maret 2024, yang memberikan opini       in its report dated March 12, 2024, which fair opinion, in all material
 Wajar, dalam semua hal yang material, posisi keuangan                  respects, the consolidated financial position of PT Steel Pipe Industry
 konsolidasian PT Steel Pipe Industry of Indonesia Tbk dan entitas      of Indonesia Tbk and its subsidiaries as of December 31, 2024, and
 anaknya tanggal 31 Desember 2024, serta kinerja keuangan dan           their consolidated financial performance and cash flows for the year
 arus kas konsolidasiannya untuk tahun yang berakhir pada tanggal       then ended, in accordance with the Indonesian Financial Accounting
 tersebut, sesuai dengan Standar Akuntansi Keuangan di indonesia.       Standards.




 Aset | Assets

                                     LAPORAN POSISI KEUANGAN KONSOLIDASIAN |
                                   CONSOLIDATED STATEMENT OF FINANCIAL POSITION
                                                                                                    (Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)
                                                                                                  (Expressed in Millions of Rupiah, unless otherwise stated)
                                                                                                                 Pertumbuhan | Growth

 Aset | Assets                                                 2024                  2023                   Nominal                          %

 Aset Lancar                                                5.254.241           5.074.574                    179.667                        4%
 Current Assets
 Aset Tidak Lancar                                          3.041.186           2.897.134                    144.052                        5%
 Non-Current Assets
 Jumlah Aset                                               8.295.427            7.971.708                    323.719                        4%
 Total Assets




 Jumlah Aset Perseroan dan Entitas Anak pada tanggal 31 Desember        Total assets of the Company and Subsidiary as of December 31,
 2024 tercatat sebesar Rp. 8.295.427 juta, mengalami kenaikan           2024 were recorded at IDR 8,295,427 million, experiencing increase
 sebesar Rp. 323.719 juta atau naik 4% dari Rp. 7.971.708 juta          of IDR 323,719 million, or 4% compared to IDR 7,971,708 million as
 dibandingkan dengan jumlah aset pada tanggal 31 Desember 2023.         of 31 December 2023.


 Jumlah Aset Lancar pada tanggal 31 Desember 2024 tercatat              Total Current Assets as of December 31, 2024 was IDR 5,254,241
 sebesar Rp. 5.254.241 juta. Dibandingkan dengan jumlah Aset            million. Compare to total Current Assets as of December 31, 2023,
 Lancar pada tanggal 31 Desember 2023 sebesar Rp. 5.074.574 juta,       amounting IDR 5,074,574 million, experiencing increase of




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  4                     Highlights                 Management Report                  Company Profile                   Management Discussion & Analysis
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Laporan Tahunan 2024




  mengalami kenaikan sebesar Rp. 179.667 juta atau naik 4%.                       IDR 179,667 million, or 4%. The increase in the Total Current Assets
  Kenaikan jumlah Aset Lancar tersebut terutama dari disebabkan                   were due to increase in Cash on hand and in Banks.
  kenaikan pada akun Kas dan Bank.


  Jumlah Aset Tidak Lancar pada tanggal 31 Desember 2024                          Total Non-Current Assets as of December 31, 2024 was IDR
  tercatat sebesar Rp. 3.041.186 juta. Dibandingkan dengan jumlah                 3,041,186 million. Compare to total Non-Current Assets as of
  Aset Tidak Lancar pada tanggal 31 Desember 2023 sebesar Rp.                     December 31, 2023, amounting IDR 2,897,134 million, experiencing
  2.897.134 juta, mengalami kenaikan sebesar Rp. 144.052 juta                     increase of IDR 144,052 million, or 5%. The increase in the Total Non-
  atau naik 5%. Kenaikan jumlah Aset Tidak Lancar tersebut                        Current Assets were due to increase in Property, plant and equipment
  terutama dari disebabkan peningkatan pada akun Aset Tetap.                      account.




  Liabilitas | Liabilities

                                      LAPORAN POSISI KEUANGAN KONSOLIDASIAN |
                                    CONSOLIDATED STATEMENT OF FINANCIAL POSITION
                                                                                                             (Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)
                                                                                                           (Expressed in Millions of Rupiah, unless otherwise stated)


                                                                                                                          Pertumbuhan | Growth

  Liabilitas | Liabilities                                                 2024                  2023                Nominal                         %

  Liabilitas Jangka Pendek                                           1.611.148               2.497.358               -886.210                      -35%
  Current Liabilities

  Liabilitas Jangka Panjang                                          1.640.528                   856.004              784.524                      92%
  Non-Current Liabilities

  Jumlah Liabilitas                                                  3.251.676              3.353.362                -101.686                       -3%
  Total Liabilities



  Jumlah Liabilitas pada tanggal 31 Desember 2024 tercatat sebesar                Total Liabilities as of December 31, 2024 was IDR 3,251,676 million,
  Rp. 3.251.676 juta, turun 3% dibandingkan dengan jumlah Liabilitas              experiencing decreased of 3% compare to total Liabilities as of
  pada tanggal 31 Desember 2023 sebesar Rp. 3.353.362 juta.                       December 31, 2023, which were recorded at IDR 3,353,362 million.
  Penurunan jumlah Liabilitas tersebut terutama dari disebabkan                   The decrease in the Total Liabilities were due to decrease in Current
  penurunan pada Liabilitas Jangka Pendek.                                        Liabilities.


  Penurunan pada jumlah Liabilitas Jangka Pendek dari Rp. 2.497.358               The decrease of total Current Liabilities from IDR 2,497,358 millions
  juta di tahun 2023 menjadi Rp. 1.611.148 juta di tahun 2024, atau               in 2023 to IDR 1,611,148 millions in 2024 or decreased by IDR
  turun Rp. 886.210 juta atau 35% disebabkan karena penurunan pada                886,210 millions or 35% due to the decrease in Short-term bank
  akun Utang bank jangka pendek.                                                  loans accounts.



           Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan                  Referensi                         Laporan Keuangan                    103
           Corporate Governance          Corporate Social Responsibility                References                        Financial Statements                   4
Page 112
                                                                                                                        2024 Annual Report




 Sedangkan jumlah Liabilitas Jangka Panjang naik dari Rp. 856.004       Meanwhile, the total of Non-Current Liabilities increased from IDR
 juta di tahun 2023 menjadi Rp. 1.640.528 juta di tahun 2024, atau      856,004 million in 2023 to IDR 1,640,528 million in 2024, or
 naik Rp. 784.524 juta atau 92% disebabkan karena adanya kenaikan       increassed by IDR 784,524 million or 92% due to increased of Long-
 pada akun Utang Jangka Panjang.                                        term loans.




Ekuitas | Equity

                                        LAPORAN POSISI KEUANGAN KONSOLIDASIAN |
                                      CONSOLIDATED STATEMENT OF FINANCIAL POSITION
                                                                                                     (Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)
                                                                                                   (Expressed in Millions of Rupiah, unless otherwise stated)


                                                                                                                  Pertumbuhan | Growth

                                                               2024                   2023                   Nominal                         %

Ekuitas                                                     5.043.751           4.618.346                    425.405                         9%
Equity


 Kenaikan jumlah Ekuitas sebesar Rp. 425.405 juta atau 9% terutama      The increase in Total Equity of Rp. 425,405 millions or 9% is primarily
 disebabkan karena pencatatan laba bersih tahun berjalan.               due to the recording of net income for the year.




          LAPORAN LABA RUGI DAN PENGHASILAN KOMPREHENSIF LAIN KONSOLIDASIAN |
         CONSOLIDATED STATEMENT OF PROFIT & LOSS AND OTHER COMPREHENSIVE INCOME
                                                                                                     (Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)
                                                                                                   (Expressed in Millions of Rupiah, unless otherwise stated)


                                                                                                                  Pertumbuhan | Growth

                                                               2024                   2023                   Nominal                         %

 Penjualan dan Pendapatan Jasa                              6.118.364           6.455.329                    -.336.965                      -5%
 Sales & Services Revenue
 Beban Pokok Pendapatan                                     5.012.387           5.387.142                    -.374.755                      -7%
 Cost of Revenue
 Laba Periode Berjalan                                        530.063             498.059                       32.004                       6%
 Income for the Period
 Laba Komprehensif Tahun Berjalan                             531.385             516.203                       15.182                       3%
 Comprehensive Income for the Year




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  Penjualan & Pendapatan Jasa | Sales & Service Revenues

  Di tahun 2024 Perseroan berhasil mencatat penjualan dan                  In 2024 the Company managed to book sales and service revenues of
  pendapatan jasa sebesar Rp. 6.118.364 juta, mengalami penurunan          Rp. 6,118,364 million, experiencing an decrease of Rp. 336,965
  sebesar Rp. 336.965 juta atau 5% dibandingkan penjualan dan              million or 5% compared to that of in 2023. The decreased in sales
  pendapatan jasa di tahun 2023. Penurunan nilai penjualan                 value was due to the decrease in the sales prices for all pipe products.
  disebabkan karena penurunan harga jual untuk semua produk pipa.




  Beban Pokok Pendapatan | Cost of Revenues
  Beban Pokok Pendapatan di tahun 2024 tercatat sebesar Rp.                Cost of Revenue in 2024 was recorded at Rp. 5,012,387 million or
  5.012.387 juta atau turun 7% dari Rp. 5.387.142 juta di tahun 2023.      decreased by 7% from Rp. 5,387,142 million in 2023. The decrease
  Penurunan sebesar Rp. 374.755 juta disebabkan karena                     of Rp. 374,755 million due to the decrease in the raw materials used
  menurunnya biaya pemakaian bahan baku karena penurunan harga             which is in line with the decrease of raw material prices.
  bahan baku.




  Laba Periode Berjalan | Income for the Period
  Perseroan berhasil membukukan laba untuk tahun 2024 sebesar Rp.          The company managed to book profits for 2024 of Rp. 530,063 million
  530.063 juta atau naik 6% dibandingkan perolehan yang sama di            or increased by 6% compared to that of 2023, which was recorded at
  tahun 2023, yang tercatat sebesar Rp. 498.059 juta. Kenaikan saldo       Rp. 498,059 million. The increase in income for the period was due to
  laba periode berjalan disebabkan karena peningkatan Laba Kotor           the decreased of Cost of Revenues.
  Perseroan sebagai akibat dari penurunan Beban pokok pendapatan.




  Laba Komprehensif Tahun Berjalan | Comprehensive Income for the Year
  Di tahun 2024 Perseroan membukukan laba komprehensif sebesar             In 2024 the Company booked Total Comprehensive Income of Rp.
  Rp. 531.385 juta. Jika dibandingkan dengan tahun 2023, jumlah laba       531,385 million. Compare to that of 2023, the total Comprehansive
  komprehensif tahun berjalan lebih tinggi Rp. 15.182 juta.                Income for the Year increased by Rp. 15,182 million.




          Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan          Referensi                       Laporan Keuangan              105
          Corporate Governance           Corporate Social Responsibility        References                      Financial Statements             4
Page 114
                                                                                                                        2024 Annual Report




Laba Arus Kas Konsolidasian | Consolidated Statement of Cash Flows


                                                                                                     (Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)
                                                                                                   (Expressed in Millions of Rupiah, unless otherwise stated)


                                                                                                                           Pertumbuhan | Growth

 Keterangan | Descriptions                                              2024                      2023                   Nominal                     %

 Arus kas dari aktivitas operasi                                       893.058                 201.569                    691.489                   -343%
 Cash Flows from operating activities
 Arus kas dari aktivitas investasi                                    - 264.770                - 62.190                 - 202.580                   -326%
 Cash Flows from investing activities
 Arus kas dari aktivitas pendanaan                                    - 301.861                - 12.619                 - 289.242                  2292%
 Cash Flows from financing activities
 Kenaikan Bersih Kas dan Setara Kas                                    326.427                 126.760                    199.667                    158%
 Net Increase Cash and Cash Equivalent
 Kas dan Setara Kas awal tahun                                         176.938                   50.178                   126.760                    253%
 Cash and Cash Equivalent Beginning of Year
 Dampak Perubahan Kurs pada Cash dan Setara Kas                            284                            -                     284                        -
 Effects of Exchange Differences on Cash and Cash Equivalents
 Kas dan Setara Kas akhir tahun                                        503.649                 176.938                    326.711                    185%
 Cash and Cash Equivalent End of Year



 Saldo Kas dan Setara Kas Konsolidasi Perseroan pada tanggal 31           The balance of Consolidated Cash and Cash Equivalents as of
 Desember 2024 berjumlah Rp. 503.649 juta. Jika dibandingkan              December 31, 2024 amounted to Rp. 503,649 million. Compared to
 dengan posisi per 31 Desember 2023 yang berjumlah Rp. 176.938            the position as of 31 December 2023 amounted to Rp. 176,938
 juta, terjadi kenaikan sebesar 326.711 juta atau 185% yang               million, there was an increase of 326,711 million or 185% which was
 disebabkan karena peningkatan dari Kas neto yand diperoleh dari          due to an increase in net cash provided by operating activities.
 aktivitas operasi.




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Laporan Tahunan 2024




  Rasio Keuangan | Financial Ratios

                                                                                                   2024                       2023
  Rasio Lancar                                                                                     326%                       203%
  Current Ratio
  Jumlah Liabilitas/Jumlah Ekuitas                                                                  65%                         73%
  Total Liabilities/Total Equity
  Jumlah Liabilitas/Jumlah Aset                                                                     39%                         42%
  Total Liabilities/Total Asset



  KEMAMPUAN MEMBAYAR UTANG                                                 SOLVENCY

  Untuk mengukur kemampuan Perseroan dalam membayar Utang,                 To measure the Company's ability to pay debt, the Company uses the

  Perseroan menggunakan Rasio Likuiditas dan Rasio Solvabilitas.           Liquidity Ratio and Solvability Ratio.



  Rasio Likuiditas

  Rasio likuiditas mencerminkan kemampuan Perseroan dan Entitas            Liquidity Ratio

  Anak dalam memenuhi liabilitas jangka pendek dengan                      The liquidity ratio reflects the ability of the Company and Subsidiaries

  menggunakan asset lancar yang dimilikinya.                               to fulfill their current liabilities by using their current assets



  Tingkat likuiditas diukur dengan menggunakan rasio lancar, yaitu         The level of liquidity is measured by using current ratios, namely the

  perbandingan aset lancar dan liabilitas jangka pendek.                   comparison of current assets and short-term liabilities.



  Di tahun 2024, rasio lancar Perseroan adalah 326%, lebih tinggi jika     In 2024, the Company's current ratio was 326%, better than the

  dibandingkan dengan rasio lancar di tahun 2023, yaitu 203%.              current ratio in 2023, which was 203%



  Rasio Solvabilitas                                                       Solvability Ratio

  Solvabilitas merupakan kemampuan Perseroan dan Entitas Anak              Solvability is the ability of the Company and Subsidiary to fulfill their

  dalam memenuhi liabilitas jangka pendek dan jangka panjang, yang         short-term and long-term liabilities, which is reflected by the ratio of

  tercermin dari perbandingan antara jumlah liabilitas dan ekuitas dan     total liabilities and equity and the ratio of total liabilities and total

  perbandingan antara jumlah liabilitas dan jumlah aset.                   assets.



  Perbandingan antara jumlah liabilitas dan ekuitas Perseroan dan          The comparison between the total liabilities and total equity of the

  Entitas Anak pada tanggal 31 Desember 2024 dan 2023 adalah               Company and Subsidiaries as of December 31, 2024 and 2023 were

  masing-masing sebesar 0,65x dan 0,73x.                                   0.65x and 0.73x respectively.



  Sedangkan perbandingan antara jumlah liabilitas dan jumlah asset         While the comparison between the total liabilities and the total assets

  Perseroan dan Entitas Anak pada tanggal 31 Desember 2024 dan             of the Company and Subsidiaries as of December 31, 2024 and 2023

  2023 masing-masing sebesar 0,39x dan 0,42x.                              were 0.39x and 0.42x, respectively.



           Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan          Referensi                          Laporan Keuangan            107
           Corporate Governance          Corporate Social Responsibility        References                         Financial Statements           4
Page 116
                                                                                                                       2024 Annual Report




 TINGKAT KOLEKTIBILITAS                                                 COLLECTIBILITY RATE
 Kolektibilitas piutang Perseroan menggambarkan seberapa efektif        The collectibility of the Company's receivables illustrates how
 Perseroan mengelola tagihan-tagihan kepada pelanggannya, yang          effectively the Company manages its account receivables, which is
 tercermin dari umur piutang atau jangka waktu pencairan piutang.       reflected the account receivables aging or the tenure of receivables.


 Umur piutang dihitung dengan cara membandingkan total penjualan        The accounts receivable aging is calculated by comparing the total
 selama setahun dengan rata-rata piutang di tahun tersebut.             sales for a year with the average accounts receivable in that year.


 Jumlah rata-rata umur piutang Perseroan pada tahun 2024 dan 2023       The average collection period of the Company's receivables in 2024
 adalah 65 dan 63 hari. Hal ini menunjukkan stabilitas kinerja          dan 2023 were 65 and 63 days. This ratio shows the Company's
 Perseroan dalam mengelola sumber dananya.                              stability in managing its sources of funds.




 Struktur Modal & Kebijakan Manajemen Atas Struktur Modal |
 Capital Structure & Management Policy on Capital Structure

                                                                                                    (Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)
                                                                                                  (Expressed in Millions of Rupiah, unless otherwise stated)


                                                                             2024                   %                  2023                    %


 Jumlah Liabilitas Jangka Pendek                                          1.611.148               19%               2.497.358                 31%
 Total Current Liabilities
 Jumlah Liabilitas Jangka Panjang                                         1.640.528               20%                 856.004                 11%
 Total Non-Current Liabilities
 Jumlah Liabilitas                                                       3.251.676                39%              3.353.362                  42%
 Total Liabilities
 Jumlah Ekuitas                                                           5.043.751               61%               4.618.346                 58%
 Total Equity
 Jumlah Liabilitas dan Ekuitas                                           8.295.427               100%              7.971.708                100%
 Total Liabilities and Equity


 Rasio utang dibanding modal Perseroan pada tahun 2024 adalah           The Company's debt to equity ratio for 2024 was 0.64x. This ratio
 0,64x. Rasio ini lebih rendah dibandingkan dengan tahun 2023 yaitu     was lower compared to that of 2023, which was 0.73x.
 0,73x.




108                     Ikhtisar Utama              Laporan Manajemen                 Profil Perusahaan                 Analisa & Pembahasan Manajemen
  4                       Highlights                Management Report                 Company Profile                   Management Discussion & Analysis
Page 117
Laporan Tahunan 2024




  Komitmen Material untuk Investasi Barang Modal |
  Material Commitments for Investment in Capital Goods

  Pada tahun 2024 Perseroan tidak memiliki ikatan material untuk                In 2024 the Company did not engage any material commitments for
  investasi barang modal, selain yang telah dilakukan pada tahun-               investment in capital good, other than those that have been done in
  tahun sebelumnya.                                                             previous years.




  Perbandingan Target dan Realisasi Kinerja |
  Comparison of Performance Target and Realisation

  Berikut adalah perbandingan target dan realisasi kinerja Perseroan            Below is the comparison of performance target and realisation of the
  pada tahun 2024 serta proyeksi di tahun 2025.                                 Company in 2024 and projection in 2025.

                                                                                                      Disajikan dalam jutaan Rupiah, kecuali dinyatakan lain
                                                                                                    Expressed in millions of Rupiah, unless otherwise stated


                                                                                      2024                                         2025
                                                                    Target | Target         Realisasi | Realization          Target | Target


  Penjualan dan Pendapatan Jasa                                 7.000.000-7.500.000                6.118.364            7.000.000-7.500.000
  Sales and Service Revenue




  Investasi Barang Modal | Capital Goods Investment

  Pada tahun 2024 Perseroan mengeluarkan dana sebesar sekitar Rp                In 2024 the Company spent around Rp 265 billion in capital
  265 milyar untuk belanja modal, yang merupakan belanja modal                  expenditure, which was the capital expenditure for acquiring non-
  untuk perolehan aset tetap.                                                   current assets.




  Informasi dan Fakta Material yang Terjadi Setelah Tanggal Laporan Keuangan |
  Realization of Investment of Capital Goods

  Tidak ada peristiwa/kejadian penting setelah tanggal laporan                  There was no significant events after the date of the financial
  keuangan yang berpengaruh signifikan terhadap laporan keuangan                reporting that have a significant effect on the Company's financial
  Perseroan.                                                                    statements.




          Tata Kelola Perusahaan     Tanggung Jawab Sosial Perusahaan                  Referensi                       Laporan Keuangan               109
          Corporate Governance         Corporate Social Responsibility                References                      Financial Statements              4
Page 118
                                                                                                                                    2024 Annual Report



Prospek Usaha
Business Prospect


 Prospek industri pipa baja di Indonesia pada tahun 2025 cukup                          The prospects for the steel pipe industry in Indonesia in 2025 are
 positif, didorong oleh masih berlangsungnya pembangunan                                quite positive, driven by the ongoing infrastructure development,
 Infrastruktur, seperti jembatan, jalan dan distribusi air bersih.                      such as bridges, roads, and clean water distribution.


 Pembangunan fisik juga tetap dilakukan oleh pemerintah dalam                           Physical development is also continuously being carried out by the
 berbagai sektor sebagai berikut : pendidikan, konektivitas, pangan                     government in various sectors as follows: education, connectivity,
 akuatik, irigasi, pangan pertanian, rumah perlindungan wanita dan                      aquatic food, irrigation, agricultural food, women and children
 anak, kesehatan, sanitasi, air minum, perumahan dan pemukiman,                         protection houses, health, sanitation, drinking water, housing and
 pembangunan sentra IKM untuk industri kecil dan menengah, dan                          settlements, small and medium industry centers (IKM) development,
 pasar.                                                                                 and markets.


 Kebijakan pemerintah yang mendukung industri dalam negeri                              Government policies supporting domestic industries strengthen the
 memperkuat prospek pasar secara keseluruhan. Hal ini tercermin                         overall market prospects. This is reflected in the continued increase in
 dengan tetap meningkatnya Anggaran Belanja Pemerintah Pusat                            the Central Government's Budget for 2025 and the planned Physical
 untuk tahun 2025 dan Rencana DAK Fisik untuk tahun 2025.                               Special Allocation Fund (DAK) for 2025.



                                     Belanja Pemerintah Pusat
             Kualitas belanja ditingkatkan melalui efisiensi dan efektivitas untuk akselerasi transformasi ekonomi
                                                              Central Government Expenditure
                  The quality of expenditure is improved through efficiency and effectiveness to accelerate economic transformation

                                                 17,8                                                      7,2                      9,5
                      -1,0                                                        0,0



                                                                                                                                2.701,4
                                                                                                    2.467,5
                                              2.301,6                     2.302,5

                    1.954,5                                                                                                     1.160,1
                                                                                                    1.090,8
                                                945,8                     1.000,8

                    1.032,0



                                                                                                    1.376,7                     1.541,4
                                              1.355,9                     1.301,6
                     922,6


                      2021                      2022                        2023                       2024                APBN 2025
                           Belanja non-K/L                                 Belanja K/L                             Pertumbuhan (%)
                           (Rp triliun)                                    (Rp triliun)                            Growth (%)
                           Non-Ministerial or Institutional                Ministerial or Institutional
                           expenditure (in trillion IDR)                   expenditure (in trillion IDR)

             Sumber | Source : Informasi APBN 2025, Mempercepat Transformasi Ekonomi yang Inklusif dan Berkelanjutan disusun oleh Tim Kementrian Keuangan


110                     Ikhtisar Utama                        Laporan Manajemen                        Profil Perusahaan             Analisa & Pembahasan Manajemen
  4                       Highlights                          Management Report                        Company Profile               Management Discussion & Analysis
Page 119
Laporan Tahunan 2024


                     Rencana Pencapaian Dana Alokasi Khusus (DAK) Fisik
                                            Special Allocation Fund (DAK) Physical Achievement Plan

           Pendidikan | Education                                                  Kesehatan | Health
           Ÿ    Revitalisasi penyediaan sarana satuan pendidikan                   Ÿ   Penyediaan puskesmas di 61 cecamatan
                di 14.690 unit satuan pendidikan                                   Ÿ   Peningkatan kelas Rumah Sakit Daerah untuk mendukung
           Ÿ    Revitalisasi sarana prasarana layanan perpustakaan                     Layanan KJSU di 11 RS
                daerah sebanyak 21 Unit                                            Ÿ   Pengadaan Laparoskopi dengan kamera dan monitor 21 unit
           Ÿ    Revitalization of the provision of educational facilities          Ÿ   Rehabilitasi Balai Penyuluhan KB di 537 balai
                in 14,690 educational units
           Ÿ    Revitalization of library service infrastructure in
                21 regional units                                                  Sanitasi | Sanitation
                                                                                   Ÿ   Sistem pengelolaan air limbah domestik terpusat 6.859 SR
           Konektivitas | Connectivity                                             Ÿ   Pembangunan tangki septik skala Individual 85.466 unit
           Ÿ    Pembangunan jalan dan jembatan pada 35 Provinsi                    Ÿ   Pembangunan/peningkatan rehabilitasi IPLT 20 unit
                dan 332 Kabupaten / Kota                                           Ÿ   Penyediaan sarana dan prasarana pengelolaan sampah 131 unit
           Ÿ    Construction of roads and bridges in 35 provinces                  Ÿ   Centralized domestic wastewater management systems
                and 332 regencies/cities                                               for 6,859 households
                                                                                   Ÿ   Construction of individual septic tanks (85,466 units)
           Pangan Akuatik | Aquatik Food                                           Ÿ   Construction/upgrading/rejuvenation of 20 wastewater
           Ÿ    Pembangunan / rehabilitasi sarana dan prasarana                        treatment plants (IPLT)
                63 pelabuhan perikanan                                             Ÿ   Provision of waste management facilities and infrastructure
           Ÿ    Pembangunan / rehabilitasi 93 balai benih                              (131 units)
           Ÿ    Rehabilitasi pengolahan dan pemasaran hasil perikanan
                di 46 Kabupaten / Kota                                             Air Minum | Drinking Water
           Ÿ    Construction/rehabilitation of facilities and infrastructure       Ÿ   Perluasan SPAM Jaringan Perpipaan 125.003 SR
                for 63 fishery ports                                                Ÿ   Peningkatan SPAM Jaringan Perpipaan 69.928 SR
           Ÿ    Construction/rehabilitation of 93 seed production centers          Ÿ   Pembangunan baru SPAM Jaringan Perpipaan 58.046 SR
           Ÿ    Rehabilitation of fish processing and marketing facilities          Ÿ   Expansion of piped drinking water systems (SPAM) covering
                in 46 regencies/cities                                                 125,003 households
                                                                                   Ÿ   Improvement of piped drinking water systems (SPAM)
           Irigasi | Irrigation                                                        covering 69,928 households
           Ÿ    Pembangunan Jaringan Irigasi 3.386 Ha                              Ÿ   New construction of piped drinking water systems (SPAM)
           Ÿ    Peningkatan Jaringan Irigasi 23.552 Ha                                 covering 58,046 households
           Ÿ    Rehabilitasi Jaringan Irigasi 62.846 Ha
           Ÿ    Pembangunan Infrastruktur Pengendali Banjir 11,2 km
           Ÿ    Construction of an irrigation network covering 3,386 Ha            Perumahan & Pemukiman | Housing &
           Ÿ    Improvement of the irrigation network covering 23,552 Ha           Settlement
           Ÿ    Rehabilitation of the irrigation network covering 62,846 Ha        Ÿ   Peremajaan, pemugaran, relokasi dan pembangunan
           Ÿ    Construction of flood control infrastructure (11.2 km)                  permukiman baru total sebanyak 3.186 unit
                                                                                   Ÿ   Jalan lingkungan dan drainase lingkungan yang terbangun
           Pangan Pertanian | Agricultural Food                                        sebanyak 88.933 meter
           Ÿ    Pengadaan / rehabilitasi sumber-sumber air 649 unit                Ÿ   Renewal, restoration, relocation, and construction of new
           Ÿ    Pembangunan screen house hortikultura 35 paket                         settlements totaling 3,186 units
           Ÿ    Pembangunan unit olah pakan ternak 78 paket                        Ÿ   Construction of environmental roads and drainage systems
           Ÿ    Pembangunan jalan pertanian 304 unit                                   covering 88,933 meters
           Ÿ    Rehabilitasi lumbung pangan masyarakat 32 unit
           Ÿ    Procurement/rehabilitation of 649 water sources
           Ÿ    Construction of 35 horticultural screen houses                     Industri Kecil & Menengah | Small & Medium
           Ÿ    Construction of 78 livestock feed processing units                 Industries
           Ÿ    Construction of 304 agricultural roads                             Ÿ   Revitalisasi 3 sentra IKM
           Ÿ    Rehabilitation of 32 community food barns                          Ÿ   Revitalization of 3 small and medium industry centers (IKM)

           Perlindungan Perempuan & Anak | Protection
           of Women & Children                                                     Perdagangan | Trade
           Ÿ    Renovasi UPTD PPA dan penyediaan peralatannya                      Ÿ   Revitalisasi pasar 4 unit
                34 UPTD                                                            Ÿ   Penyediaan peralatan uji dan sarana pendukung 3 paket
           Ÿ    Renovasi Rumah Perlindungan Sementara (RPS) dan                    Ÿ   Revitalization of 4 markets
                penyediaan peralatannya 22 RPS                                     Ÿ   Provision of testing equipment and supporting facilities
           Ÿ    Renovation of UPTD PPA and provision of equipment for                  (3 packages)
                34 UPTDs
           Ÿ    Renovation of Temporary Protection Houses (RPS) and
                provision of equipment for 22 RPS

       Tata Kelola Perusahaan              Tanggung Jawab Sosial Perusahaan     Referensi                         Laporan Keuangan                   111
       Corporate Governance                  Corporate Social Responsibility   References                        Financial Statements                  4
Page 120
                                                                                                                        2024 Annual Report



Kebijakan Dividen
Dividend Policy

 Perseroan akan membagikan dividen kepada para Pemegang Saham                The Company distributes dividends to Shareholders from the current
 dari laba tahun berjalan bagian entitas induk setelah dikurangi             year's profit of the parent entity after deductions for mandatory
 penyisihan cadangan wajib dan kebutuhan untuk pengembangan                  reserves and business development needs. The distribution of
 usaha. Pembagian dividen berpedoman pada Anggaran Dasar dan                 dividends is regulated by the Company's Articles of Association as
 ketentuan peraturan perundang-undangan yang berlaku. Pemegang               well as applicable laws and regulations. Shareholders of the
 Saham melalui RUPST tahun buku 2023 yang diadakan tanggal 28                Company adopted the resolutions of AGMS for the financial year
 Juni 2024 memutuskan untuk membagikan dividen sebesar Rp 15 per             2023 held on 28 June 2024 as they decided to distribute dividends of
 saham.                                                                      IDR 15 per share.




Program Kepemilikan Saham oleh Karyawan dan/atau Manajemen |
Employee and/or Management Share Ownership Program

 Hingga tahun 2024, Perseroan belum memiliki program kepemilikan             Until 2024, the Company has no employee and/or management share
 saham oleh karyawan dan/atau manajemen.                                     ownership program.




Realisasi Dana Hasil Penawaran Umum | Realization of Initial Public Offering Funds

 Pada tanggal 28 Juni 2024, Perseroan melakukan Penawaran Umum               On 28 June 2024, the Company conducted a Public Offering of
 Obligasi Terkait Keberlanjutan I SPINDO Tahun 2024 dengan                   SPINDO Sustainability-linked Bonds I Year 2024 and generated
 perolehan dana sebesar Rp 1 triliun. Hasil bersih, setelah dikurangi        proceeds of IDR 1 trillion. The net proceeds, after deducting the
 dengan Biaya Emisi sebesar Rp 17,08 miliar adalah sebesar Rp                Issuance Cost of IDR 17.08 billion, amounting to IDR 982.92 billion
 982,92 miliar telah direalisasikan sebagian sesuai dengan                   have been partially realized in accordance with the designation set
 peruntukan yang disebutkan di Prospektus yaitu :                            forth in the Prospectus as follows:


 1. Sebesar Rp 93 miliar dialokasikan untuk pembangunan bangunan             1. IDR 93 billion was allocated for the construction of Unit 7 building
      Unit 7, dan telah direalisasikan sebesar Rp 32,23 miliar.                  and IDR 32.23 billion of which has been realized.
 2. Sebesar Rp 107 miliar dialokasikan untuk belanja modal                   2. IDR 107 billion was allocated for the capital expenditure to
      pemerliharaan seluruh Unit Produksi Perseroan yang telah ada               maintain all the Company's existing production units, namely Unit
      yaitu Unit 1, 2, 3, 4, 5 dan 6. Dana telah direalisasikan sebesar Rp       1, 2, 3, 4, 5 and 6. IDR 44.58 billion of the allocated funds was
      44,58 miliar.                                                              realized.
 3. Sebesar Rp 600 miliar dialokasikan untuk pelunasan seluruh               3. IDR 600 billion was allocated for the repayment of all outstanding
      pokok terutan obligasi dan/atau sukuk dan pelunasan sebagian               principal of bonds and/or sukuk (Sharia-compliant bond-like
      terutang fasilitas modal kerja, dan telah direalisasikan seluruhnya.       instruments) and partial repayment of outstanding working
 4. Sebesar Rp182,92 miliar dialokasikan untuk modal kerja jangka                capital facilities, and all the funds have been realized.
      panjang yaitu pembelian bahan baku sesuai kebutuhan                    4. IDR 182.92 billion was allocated for a long-term working capital,
      Perseroan, dan telah direalisasikan seluruhnya.                            namely the purchase of raw materials as needed by the Company,
                                                                                 and the funds have been fully realized.


 Total realisasi penggunaan dana Penawaran Umum Obligasi Terkait             The total use of proceeds from the public offering of Sustainability
 Keberlanjutan I SPINDO sampai dengan tanggal 31 Desember 2024               Linked Bond I SPINDO as of 31 December 2024 was IDR 859.73
 adalah Rp 859,73 miliar.                                                    billion.




112                      Ikhtisar Utama                  Laporan Manajemen                   Profil Perusahaan           Analisa & Pembahasan Manajemen
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Page 121
Laporan Tahunan 2024




  Informasi Material Investasi, Ekspansi, Divestasi, Akuisisi, dan Restrukturisasi Hutang/Modal |
  Material Information on Investment, Expansion, Divestment, Acquisition, and Debt/Capital Restructuring

  Tidak ada informasi material lainnya yang harus diungkapkan dalam        There was no other material information that needs to be disclosed in
  transaksi-transaksi Perseroan pada 2024, selain yang telah               the Company’s transactions in 2024, other than what has been
  diungkapkan dalam Laporan Keuangan Konsolidasian Perseroan dan           disclosed in Consolidated (Audited) Financial Statements of the
  Entitas Anak yang telah diaudit.                                         Company and Entities.




  Transaksi Material yang Mengandung Benturan Kepentingan dan/atau Transaksi dengan Pihak Afiliasi |
  Material Transaction which Contains Conflict of Interest and/or Affiliate Transaction

  Seluruh transaksi dengan pihak afiliasi atau berelasi tidak              All transactions with affiliated or related parted were not disclosed in
  diungkapkan dalam Laporan Tahunan dan Laporan Keuangan karena            the Annual Report and Financial Statements for there were no
  sepanjang tahun 2024 tidak terjadi transaksi dengan pihak berelasi.      transactions that occurred with related parties throughout 2024.




          Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan          Referensi                      Laporan Keuangan              113
          Corporate Governance           Corporate Social Responsibility        References                     Financial Statements             4
Page 122
                                                                                                                   2024 Annual Report



 Perubahan Peraturan Perundang-undangan yang Berdampak
 Terhadap Perusahaan
 Changes in Rules and Regulations Affecting the Company


 Salah satu komitmen Perseroan terhadap penerapan kepatuhan               One of the Company's commitments to compliance is to always
 adalah selalu menaati peraturan yang berlaku dari regulator, yang        adhere to applicable regulations from regulators that are relevant to
 relevan pada bisnis dan operasi Perusahaan. Bentuk implementasi          the business and operations of the Company. The implementation of
 komitmen tersebut adalah melakukan pengkajian terhadap peraturan         this commitment is reflected in the review of new regulations and
 baru dan amandemen peraturan sehingga SPINDO selalu taat pada            amendments to ensure that SPINDO remains compliant with the
 ketentuan peraturan dan amandemennya.                                    regulations and their amendments.


 Laporan keuangan telah disusun dan disajikan sesuai dengan SAK,          The financial statements have been prepared and presented in
 yang mencakup Pernyataan dan Interpretasi yang diterbitkan oleh          accordance with the Indonesian Financial Accounting Standards
 Dewan Standar Akuntansi Keuangan Ikatan Akuntan Indonesia,               (SAK), which include the Statements and Interpretations issued by
 termasuk standar baru dan yang direvisi, amandemen dan                   the Indonesian Institute of Accountants Financial Accounting
 penyesuaian tahunan, yang berlaku efektif sejak tanggal 1 Januari        Standards Board, including new and revised standards,
 2024 serta Lampiran Keputusan Ketua Badan Pengawasan Pasar               amendments, and annual adjustments, which will be effective from
 Modal dan Lembaga Keuangan (sekarang menjadi Otoritas Jasa               January 1, 2024. Additionally, the financial statements comply with
 Keuangan atau OJK) No. Kep-347/BL/2012 tanggal 25 Juni 2012              the Attachment to the Chairman's Decision of the Capital Market and
 yaitu Peraturan No.VIII.G.7 tentang Penyajian dan Pengungkapan           Financial Institution Supervisory Agency (now the Financial Services
 Laporan Keuangan yang diterbitkan oleh Otoritas Jasa Keuangan            Authority or OJK) No. Kep-347/BL/2012 dated June 25, 2012, which
 (OJK) (dahulu Badan Pengawas Pasar Modal dan Lembaga                     is Regulation No. VIII.G.7 on the Presentation and Disclosure of
 Keuangan (BAPEPAM-LK)) untuk perusahaan publik.                          Financial Statements issued by the Financial Services Authority (OJK)
                                                                          (formerly the Capital Market and Financial Institution Supervisory
                                                                          Agency or BAPEPAM-LK) for public companies.



Perubahan Kebijakan Akuntansi | Changes in Accounting Policies
 Laporan keuangan Perseroan disusun sesuai standar akuntansi              The Company's financial statements have been prepared in
 keuangan (“SAK”) dan interpretasi standar akuntansi keuangan             accordance with the new and revised SAK and ISAK, including the
 (“ISAK”) baru dan revisi termasuk pengesahan amandemen dan               annual endorsement of amendments and adjustments issued by the
 penyesuaian tahunan yang dikeluarkan oleh Dewan Standar                  Financial Accounting Standards Board of the Indonesian Institute of
 Akuntansi Keuangan Ikatan Akuntan Indonesia yang dianggap                Accountants that are considered relevant to its operations and affect
 relevan dengan kegiatan operasinya dan mempengaruhi laporan              the consolidated financial statements effective for periods beginning
 keuangan konsolidasian berlaku efektif untuk periode tahun buku          on or after 1 January 2024.
 yang dimulai pada atau setelah 1 Januari 2024.
                                                                          The consolidated financial statements have been prepared in
 Laporan keuangan konsolidasian disusun sesuai dengan PSAK 1              accordance with PSAK 1 (Revised 2013) "Presentation of Financial
 (Revisi 2013) "Penyajian Laporan Keuangan", termasuk PSAK 1              Statements", including PSAK 1 (Amendment 2015), "Presentation of
 (Amendemen 2015), "Penyajian Laporan Keuangan tentang                    Financial Statements on Disclosure Initiatives". This revised PSAK
 Prakarsa Pengungkapan". PSAK revisi ini mengubah pengelompok-            changes the grouping of items presented in other comprehensive
 kan item-item yang disajikan dalam penghasilan komprehensif lain         income (OCI). Items that will be reclassified as profit or loss will be
 (OCI). Item-item yang akan direklasifikasi ke laba rugi akan disajikan   presented separately from items that will not be reclassified as profit
 terpisah dari item-item yang tidak akan direklasifikasi ke laba rugi.    or loss. The adoption of the PSAK affects the presentation only and
 Penerapan PSAK ini hanya berakibat pada penyajian saja dan tidak         does not have an effect on the financial position and performance of
 berdampak pada posisi keuangan dan kinerja Entitas dan Entitas           the Entity and its Subsidiaries.
 Anak.



114                   Ikhtisar Utama                  Laporan Manajemen                 Profil Perusahaan           Analisa & Pembahasan Manajemen
  4                     Highlights                    Management Report                 Company Profile             Management Discussion & Analysis
Page 123
Laporan Tahunan 2024



 Informasi Kelangsungan Usaha
 Business Continuity Information




  Penjualan dan pendapatan jasa serta profit margin yang meningkat di       The increased sales and service revenue as well as profit margin in
  tahun 2024 memberi optimisme kepada Perseroan kelangsungan                2024 are grounds for the Company's optimism about business
  usaha di tahun 2025.                                                      continuity in 2025.



  Hal-Hal yang Berpotensi Berpengaruh Signifikan terhadap Kelangsungan Usaha |
  Matters with Potentially Significant Effect on Business Continuity

  Operasi Entitas dan Entitas Anak telah akan lebih dipengaruhi oleh        Global economic conditions have made a real impact on the business
  kondisi ekonomi global. Beberapa hal yang berpotensi berpengaruh          operations of the Entity and its subsidiaries. Some of the factors that
  terhadap kelangsungan usaha adalah :                                      potentially contribute to the Company's business activities are as
  Ÿ Fluktuasi harga baja global yang berkorelasi dengan nilai penjualan     follows:
   produk pipa baja.                                                        Ÿ Fluctuations in global steel prices affecting the sales value of steel
  Ÿ Risiko pasar yang terdiri risiko nilai tukar mata uang asing, risiko     pipe products.
   suku bunga dan risiko harga.                                             Ÿ Market risk involving foreign exchange, interest rate, and price risk.


  Pengaruh lebih lanjut yang signifikan dari kondisi ini, bila ada, akan    Other aspects that may significantly complicate the situation, if any,
  direfleksikan dalam pelaporan keuangan Entitas dan Entitas Anak di        will be discussed in the financial report of the Entity and its subsidiary
  periode-periode berikutnya.                                               in subsequent periods.




  Penilaian Manajemen atas Hal-Hal yang Berpengaruh Signifikan terhadap Kelangsungan Usaha |
  Management Assessment on Matters with Significant Effects on Business Continuity

  Menurut catatan atas laporan keuangan audit 2024, manajemen               According to the annotation of the audited financial statements FY
  Perseroan telah melakukan penilaian atas kemampuan Perseroan untuk        2024, the Management has conducted an assessment of the
  melanjutkan kelangsungan usahanya dan berkeyakinan bahwa                  Company’s capability to continue its business activities and believes
  Perseroan memiliki sumber daya untuk melanjutkan usaha di masa            that the Company has the resources to continue its business into the
  mendatang. Selain itu, manajemen Perseroan tidak menemukan                future. Furthermore, the Management did not find any material
  adanya ketidakpastian material yang dapat menimbulkan keraguan            uncertainty that may cause significant hesitancy against the
  yang signifikan terhadap kemampuan Perseroan untuk melanjutkan            Company’s capability of continuing its business activities.
  usaha.




  Asumsi yang Digunakan Manajemen dalam Melakukan Penilaian |
  Assumptions Used by The Management in Assessment

  Manajemen menggunakan asumsi-asumsi dari berbagai sumber baik             The Company utilizes assumptions from various internal and external
  internal maupun eksternal yang di antaranya adalah indikator-             sources namely economic indicators such as GDP, inflation rate,
  indikator ekonomi seperti PDB, tingkat inflasi, nilai tukar serta data    foreign exchange and internal performance data such as financial
  kinerja internal seperti laporan kinerja keuangan dan indikator           performance reports and corporate governance indicators.
  pelaksanaan tata kelola perusahaan.




           Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan          Referensi                       Laporan Keuangan               115
           Corporate Governance           Corporate Social Responsibility        References                      Financial Statements              4
Page 124
                                                                        2024 Annual Report




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116   Ikhtisar Utama       Laporan Manajemen         Profil Perusahaan   Analisa & Pembahasan Manajemen
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       Tata Kelola Perusahaan   Tanggung Jawab Sosial Perusahaan     Referensi    Laporan Keuangan      117
       Corporate Governance       Corporate Social Responsibility   References   Financial Statements     5
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                                                                                                                             2024 Annual Report



Tata Kelola Perusahaan
Corporate Governance


 SPINDO berkomitmen untuk menjaga standar tinggi etika bisnis dan                 SPINDO is committed to maintaining high standards of business
 praktik tata kelola perusahaan yang menyeimbangkan kepentingan                   ethics and corporate governance practices that balance the interests
 Perseroan dan para pemangku kepentingan.                                         of the Company and stakeholders.


 Penerapan tata kelola perusahaan yang baik (Good Corporate                       The implementation of good corporate governance (GCG) in a quality
 Governance – GCG) secara berkualitas dan konsisten berupakan                     and consistent manner is part of the Company’s efforts to maintain
 bagian dari upaya menjaga kinerja untuk pertumbuhan yang                         performance for sustainable growth. With GCG, stakeholders,
 berkelanjutan. Dengan GCG para pemangku kepentingan, khususnya                   especially investors, believe that the company will become a long-
 investor, percaya bahwa perusahaan akan menjadi pilihan investasi                term investment choice if it applies governance, manages risk
 jangka panjang bila menerapkan tata kelola (Governance), mengelola               appropriately (Risk Management ), and complies with applicable
 risiko secara tepat (Risk Management), serta patuh pada ketentuan                regulations (Compliance).
 yang berlaku (Compliance).




Landasan Pelaksanaan GCG | Platform for GCG Implementation

 Penerapan Tata Kelola Perusahaan SPINDO memiliki landasan                        The legal basis for the implementation of Corporate Governance of
 hukum dan kebijakan yang meliputi undang-undang, peraturan dan                   SPINDO is comprised of the following laws, regulations and
 pedoman sebagai berikut:                                                         guidelines:
 1. Undang-undang Republik Indonesia Nomor: 40 Tahun 2007                         1. Law of the Republic of Indonesia No. 40 of 2007 on Limited
      tentang Perusahaan Terbatas [PT];                                              Liability Company;
 2. Undang-undang Republik Indonesia Nomor: 8 tahun 1995                          2. Law of the Republic of Indonesia No. 8 of 1995 on Capital Market;
      tentang Pasar Modal dan Perubahan-Perubahannya;
 3. Peraturan OJK Nomor: 21/POJK.04/2015 tentang Penerapan                        3. OJK Regulation No. 21/POJK.04/2015 on the Implementation of
      Pedoman Tata Kelola Perusahaan Terbuka;                                        the Governance Guidelines for Listed Companies;
 4. P OJ K N o . 1 5 / P OJ K . 0 4 / 2 0 2 0 t e n t a n g R e n c a n a d a n   4. OJK Regulation No. 15/POJK.04/2020 on Plans and Procedures of
      Penyelenggaraan Rapat Umum Pemegang Saham Perusahaan                           the General Meeting of Shareholders in Listed Companies;
      Terbuka;
 5. P OJ K N o . 1 6 / P OJ K . 0 4 / 2 0 2 0 t e n t a n g R e n c a n a d a n   5. OJK Regulation No. 16/POJK.04/2020 on Plans and Procedures of
      Penyelenggaraan Rapat Umum Pemegang Saham Perusahaan                           Electronic General Meeting of Shareholders of Listed Companies;
      Terbuka secara Elektronik;
 6. POJK 3/POJK.04/2021 tentang Penyelenggaraan Kegiatan di                       6. OJK Regulation 3/POJK.04/2021 on the Implementation of
      Bidang Pasar Modal;                                                            Activities in the Capital Market;
 7. POJK No. 42/POJK.04/2020 tentang Transaksi Afiliasi dan                        7. OJK Regulation No. 42/POJK.04/2020 on Affiliated Transactions
      Transaksi Benturan Kepentingan;                                                and Conflict of Interest Transactions;
 8. Surat Edaran OJK No. 16/SEOJK.04/2021 tentang Bentuk dan Isi                  8. OJK Circular Letter No. 16/SEOJK.04/2021 on the Formation and
      Laporan Tahunan Emiten dan Perusahaan Publik;                                  Contents of Annual Reports Filed by Issuers and Public
                                                                                     Companies;
 9. Pedoman Tata Kelola Perusahaan yang dikeluarkan oleh Komite                   9. General Guidelines for Corporate Governance issued by National
      Nasional Kebijakan Governance (KNKG);                                          Committee on Governance Policy (KNKG);
 10. Peraturan-peraturan yang terkait dengan aktivitas bisnis                     10. Regulations related to the Company’s business activities,
      Perseroan, baik yang dikeluarkan pemerintah pusat, kementerian                 whether issued by the central government, relevant ministries,
      terkait, pemerintah provinsi dan pemerintah kabupaten/kota di                  provincial governments and district/city governments where the
      lokasi Perseroan beroperasi;                                                   Company operates;



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  11. Anggaran Dasar Perseroan;                                           11. Articles of Association of the Company;
  12. SK mengenai penerapan Pedoman Perilaku, dan peraturan-              12. Decree regarding the implementation of the Code of Conduct, and
      peraturan lain di lingkungan Perseroan misalnya Kode Etik               other regulations within the Company, such as the Supplier’s
      Pemasok beserta perubahan dan pem-baruannya.                            Code of Conduct.



  Tujuan Penerapan GCG | Objectives of GCG Implementation
  Penerapan GCG di dalam Perseroan bertujuan untuk:                       The implementation of GCG in the Company aims to:
  1. Melindungi hak-hak Pemegang Saham dan memfasilitasi                  1. Protect the rights of Shareholders and facilitate the
      pelaksanaan hak-hak Pemegang Saham, melalui RUPS.                       implementation of the rights of Shareholders, through GMS.
  2. Mengakui adanya hak-hak pemangku kepentingan (internal               2. Acknowledge the rights of stakeholders (internal and external)
      maupun eksternal) yang ditetapkan melalui kesepakatan                   stipulated through mutual agreement and to prompt active
      bersama serta mendorong kerja sama yang aktif untuk                     cooperation in order to create the Company’s sustainability.
      menciptakan kesinambungan Perseroan.                                3. Emphasize the principle of openness to develop the Company’s
  3. Mengedepankan prinsip keterbukaan untuk mengembangkan                    products in the Capital Market.
      produk Perseroan di Pasar Modal.                                    4. The Board of Commissioners and the Directors to ensure the
  4. Dewan Komisaris dan Direksi memastikan penerapan pedoman                 implementation of the Company’s strategic guidelines, effective
      strategis Perseroan, pengawasan yang efektif terhadap                   supervision over the management and their responsibilities to
      manajemen dan tanggung jawab Dewan Komisaris dan Direksi                the Company and Shareholders.
      kepada Perseroan dan Pemegang Saham.


  Prinsip-Prinsip GCG | GCG Principles
  Perseroan menyusun Pedoman Tata Kelola Perusahaan dengan                The Company has set out GCG Guidelines by adopting five core GCG
  berlandaskan pada lima prinsip GCG yang meliputi :                      principles as follows:


  Transparansi | Transparency
  Perusahaan memberikan kemudahan terhadap akses informasi yang           The Company provides easy access to complete, accurate and timely
  lengkap, akurat, dan tepat waktu kepada para pemangku                   information for stakeholders and demonstrate openness of decision-
  kepentingan serta melaksanakan proses pengambilan keputusan             making as well as towards disclosure of material and relevant
  dan keterbukaan dalam mengemukakan informasi materiil dan               information regarding the Company.
  relevan mengenai Perusahaan.


  Akuntabilitas | Accountability
  Kejelasan fungsi, struktur, sistem, dan pertanggungjawaban              This principle concerns the clarity of function, structure, system and
  komponen Perusahaan. Akuntabilitas dalam Perusahaan diterapkan          responsibility of organs of the Company. Accountability in the
  dengan mendorong seluruh individu dan/atau organ Perusahaan             Company is ensured by encouraging all employees and/or parts of the
  untuk menyadari tanggung jawab, wewenang, hak, dan                      Company to remain fully aware of their responsibilities, authorities,
  kewajibannya sehingga pengelolaan Perusahaan terlaksana secara          rights and duties in order that the Company can be managed in an
  efektif.                                                                effective manner.


  Pertanggungjawaban | Responsibility
  Perusahaan senantiasa melakukan monitoring kepatuhan proses             The Company at all times performs monitoring of the compliance of
  bisnis Perusahaan terhadap hukum dan peraturan yang berlaku             the Company's business processes with all applicable laws and
  sebagai bentuk pencegahan pelanggaran.                                  regulations so as to prevent any violation of any forms.



             Tata Kelola Perusahaan   Tanggung Jawab Sosial Perusahaan          Referensi                        Laporan Keuangan            119
             Corporate Governance       Corporate Social Responsibility        References                       Financial Statements           5
Page 128
                                                                                                                      2024 Annual Report




 Kemandirian | Independency
 Pengelolaan Perusahaan secara profesional tanpa benturan                   This principle deals with the management of the Company in a
 kepentingan dan pengaruh atau tekanan dari pihak manapun yang              professional manner, avoiding conflict of interest with and influence
 bertentangan dengan peraturan perundang-undangan yang berlaku              or pressure from any other parties that is in breach of regulations of
 dan prinsip-prinsip korporasi yang sehat.                                  law and of principles of a healthy corporation.




 Kewajaran | Fairness
 Menjamin bahwa setiap pemegang saham dan pemangku                          This principle ensures that all shareholders and stakeholders receive a
 kepentingan mendapatkan perlakuan yang wajar, setara serta dapat           fair and equal treatment and that they shall exercise their rights in
 menggunakan hak-haknya sesuai dengan peraturan perundang-                  compliance with applicable regulations of law.
 undangan yang berlaku.




Mekanisme GCG | GCG Mechanism
 Mekanisme penerapan GCG Perseroan mengacu kepada 4 (empat)                 Mechanism of the Company’s GCG implementation refers to 4 (four)
 aspek GCG yang terdiri dari komitmen tata kelola, struktur tata kelola,    GCG aspects that comprise of governance commitment, governance
 proses tata kelola, dan hasil tata kelola.                                 structure, governance process, and governance outcome.




                                                   Hasil Tata Kelola yang Berkelanjutan
                                                    Sustainable Governance Outcome

 Struktur Tata Kelola                                    Organ (RUPS, Dewan Komisaris, Direksi, Komite Audit, Audit Internal, Sekretaris
 Governance Structure                                    Perseroan, dan Hubungan Investor.
                                                         Organ (GMS, Board of Commissioners, Board of Directors, Audit Committee, Internal
                                                         Audit, Corporate Secretary and Investor Relations.


                                                         Kebijakan (Anggaran Dasar Perseroan, Pedoman Tata Kelola Perusahaan, Pedoman
                                                         Prilaku, Pedoman Direksi dan Dewan Komisaris, Piagam Komite Audit, Piagam Audit
                                                         Internal, Whistleblowing System).
                                                         Policies (The Company’s Vendor of Association, GCG Code, Code of Conduct, the Board
                                                         of Commissioners and Board of Directors’ Manual, Audit Committee Charter, Internal
                                                         Audit Charter, Whistleblowing System).


 Proses Tata Kelola                                      Hubungan dengan Pemangku Kepentingan, Perumusan Kebijakan dan Pengambil
 Governance Process                                      Keputusan, Manajemen Risiko.
                                                         Relationship with Stakeholders, Policy and Decision Making, Risk Management.


                                              Komitmen Tata Kelola | Governance Commitmen
                                                Visi, Misi, Nilai-Nilai | Vision, Mission, Values



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  Komitmen Tata Kelola | Governance Commitment
  Perseroan telah memiliki mekanisme dalam proses penerapan GCG           The Company has set up a mechanism for the GCG implementation
  yang dirancang dalam bentuk kebijakan, pedoman, prosedur, dan           process designed in the form of policy, manual, procedure and
  hubungan antara Dewan Komisaris dan Direksi dalam pengambilan           relations between the Board of Commissioner and Directors in
  keputusan sesuai dengan tugas, fungsi dan tanggung jawabnya.            making decisions according to their duties, functions and
  Perseroan senantiasa mengkaji dan menyempurnakan soft structure         responsibilities. The Company constantly reviews and updates the
  GCG secara berkala guna memastikan penerapan GCG sejalan                GCG soft structure regularly in order to ensure that the GCG
  dengan kebutuhan proses bisnis maupun peraturan yang berlaku.           implementation is in line with the needs of its business process and
                                                                          the prevailing regulation.




  Struktur GCG | GCG Structure
  Dalam melaksanakan pengelolaan Perusahaan dan pengambilan               In implementing corporate governance and decision making, the
  keputusan, Organ Perusahaan menjalankan fungsi, tugas, dan              Company’s organs perform their respective functions, duties and
  tanggung jawab masing-masing dengan senantiasa mematuhi                 responsibilities by remaining compliant with the applicable law and
  peraturan perundang-undangan yang berlaku, menjunjung tinggi            regulation, continue to uphold the values of business ethics and
  nilai etika bisnis serta menyadari adanya tanggung jawab                understand the Company’s responsibility to Stakeholders.
  Perusahaan terhadap para pemangku kepentingan.




  Grup & Struktur Kepemilikan Saham | Group & Shareholding Structure


                                           Rapat Umum Pemegang Saham [RUPS]
                                              General Meeting of Shareholders



                                                             Dewan Komisaris
                                                           Board of Commissioners

          Komite Audit
         Audit Committee

                                                                      Direksi
                                                                 Board of Directors




           Audit Internal                                                      Sekretaris Perseroan & Hubungan Investor
           Internal Audit                                                       Corporate Secretary & Investor Relations



          Tata Kelola Perusahaan    Tanggung Jawab Sosial Perusahaan            Referensi                    Laporan Keuangan            121
          Corporate Governance        Corporate Social Responsibility          References                   Financial Statements           5
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                                                                                                                            2024 Annual Report




Kebijakan GCG | GCG Policies

 Dalam melaksanakan tata kelola perusahaan yang baik, Perseroan                 In implementing Good Corporate Governance, the Company is also
 juga didukung dan dipandu sesuai dengan peraturan perundang-                   supported and guided in accordance with legislation and best
 undangan dan best practice. Perseroan telah memberlakukan                      practices. The Company has implemented several policies relating to
 beberapa kebijakan yang berkaitan dengan penerapan GCG, yaitu :                the implementation of GCG :
 1. Anggaran dasar Perseroan;                                                   1.    Articles of Association of the Company;
 2. Pedoman Tata Kelola Perusahaan (GCG Code);                                  2.    GCG Code;
 3. Pedoman Perilaku (Code of Conduct);                                         3.    Code of Conduct;
 4. Pedoman direksi dan dewan Komisaris;                                        4.    Board of Directors and Board of Commissioners Manual;
 5. Piagam Komite Audit;                                                        5.    Audit Committee Charter;
 6. Piagam Audit Internal;                                                      6.    Internal Audit Charter;
 7. Whistle Blowing System.                                                     7.    Whistle Blowing System.


 Kebijakan-kebijakan tersebut merupakan prosedur dan hubungan                   These measures were designed to establish streamlined procedures
 yang jelas antara pihak yang mengambil keputusan dengan pihak                  as well as good relations between decision makers and control
 yang melakukan kontrol (pengawasan) terhadap keputusan tersebut.               (supervisory) units. In addition, the policies were published on the
 Kebijakan-kebijakan tersebut dipublikasikan oleh Perseroan melalui             Company's official website (www.spindo.com) and have been
 website Perseroan (www.spindo.com) dan direview secara berkala                 regularly reviewed and updated according to the Company's actual
 menyesuaikan dengan kondisi Perseroan ser ta peraturan                         condition and applicable regulations of law.
 perundang-undangan yang berlaku.


 Roadmap GCG | GCG Roadmap

                     2013-2016                                    2017-2019                                                2020-2024

 Ÿ Penempatan Komisaris Independen             Ÿ Penyusunan Pedoman GCG                            Ÿ Penyempurnaan Pemenuhan Rekomendasi OJK terkait

      Assignment of Independent Commissioner     Drafting GCG Guidelines                             Tata Kelola
 Ÿ Penunjukan Direksi Independen               Ÿ Penyempurnaan Pedoman Perilaku                       Improvement of the Implementation of OJK's
      Appointment of Independent Director        Improvement of Code of Conducts                      Recommendation concerning the Governance
 Ÿ Pengangkatan Sekretaris Perusahaan          Ÿ Pengesahan Board Manual                           Ÿ Penyempurnaan dan Implementasi Self-Assessment

      Appointment of Corporate Secretary         Ratification of Board Manual                         Direksi
 Ÿ Pembentukan Komite Audit                    Ÿ Perubahan Susunan Anggota Komite Audit               Improvement and Implementation of the Board of
      Establishment of Audit Committee           Change in the Composition of the Audit               Directors’ Self-Assessment
 Ÿ Pembentukan Audit Internal                    Committee Members                                 Ÿ Penyempurnaan Kebijakan Tata Kelola Mengacu pada

      Establishment of Internal Audit          Ÿ Revisi Piagam Audit Internal                        ACGS (Asean Corporate Governance Scorecard)
                                                 Revision of Internal Audit Charter                   Improvement of the Governance Policies Referring to
                                               Ÿ Penetapan Fungsi Kerja Komite Pemantau               the Asean Corporate Governance Scorecard
                                                Penerapan dan Penegakan Pedoman Etika dan          Ÿ Pembentukan Komite Risiko

                                                Perilaku (KP5)                                        Establishment of Risk Committee
                                                 Determination of Work Function of the             Ÿ Penyusunan Kebijakan terkait ESG (Environment, Social,

                                                 Monitoring, Implementation, and Enforcement         and Governance)
                                                 of Code of Ethics and Conduct Committee              Policies drafting related to Environment, Social, and
                                                 (KP5)                                                Governance
                                                                                                   Ÿ Penyusunan Disaster Recovery Plan (DRP)

                                                                                                      Preparation of Disaster Recovery Plan (DRP)




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  Penilaian Penerapan GCG | Assessment of GCG Implementation

  Dalam rangka Internalisasi dan Implementasi GCG pada tahun 2024,            In 2024, in order to internalize and implement GCG, the Company
  Perseroan telah melaksanakan sosialisasi pedoman-pedoman GCG                held GCG codes socialization activities in the form of open discussion,
  melalui diskusi terbuka, one-on-one meeting, serta workshop                 one-on-one meetings and internal workshops.
  internal.


  Pada periode 2024, Perseroan telah melaksanakan aktivitas                   For the 2024 period, the Company has carried out its GCG
  internalisasinya terkait GCG sebagai berikut:                               internalization activities as follows:
  a. Pembentukan Tim KP5 (Komite Pemantau Penerapan dan                       a. Formation of KP5 Team (Monitoring Committee on the
      Penegakan Pedoman Etika dan Perilaku).                                      Implementation and Enforcement of Code of Ethics and Conduct).
  b. Membuka saluran pengaduan (secara lisan dan tertulis) untuk              b. Launching the complaints channel (verbally and in writing) for
      setiap pelanggaran yang terjadi di lingkungan perusahaan dan                every violation that occurred in the Company’s environment and
      melakukan tindak lanjut.                                                    to process with follow-ups.
  c. Pelaporan setiap penerimaan dari pihak ketiga yang berkaitan             c. Every complaint submitted by a third party concerning work
      dengan hubungan kerja dengan perusahaan melalui dokumen                     relations with the Company through certain documents that have
      tertentu yang telah ditetapkan kepada KP5.                                  been assigned to KP5.
  d. Melakukan audit operasional secara berkala sesuai dengan                 d. Regular operational audit according to previously determined
      program audit standar audit operasional yang telah ditetapkan.              operational audit programs/standards.


  Perseroan meyakini bahwa penerapan tata kelola yang baik
  merupakan landasan keberlanjutan Perusahaan dari waktu ke waktu.            The Company believes that GCG implementation is the bedrock for
  Untuk itu, Perseroan berupaya mengimplementasikan program-                  the Company’s sustainability from time to time. For this, the Company
  program tata kelola yang baik agar menjadi budaya korporasi dan             sought to implement GCG programs so that it will turn into a culture
  karyawan. Upaya penerapan GCG dilakukan dengan:                             for the Company and employees. GCG Implementation is carried out
  a. Menandatangani Pernyataan Kepatuhan atas Code of Conduct                 through:
      dan Pakta Integritas.                                                   a. Signing Statement of Compliance with Code of Conduct and Pact
  b. Melakukan pembayaran pajak pribadi.                                          of Integrity.
  c. Melaporkan Daftar Khusus Kepemilikan Saham Direksi dan                   b. Complete personal tax payment.
      anggota keluarganya untuk menghindari konflik kepentingan                c. Consistent reporting of the Special Register of Shares Ownership
      secara konsisten di setiap tahun.                                           of the Directors and their family members to avoid conflict of
  d. Meningkatkan efektivitas Sistem Pelaporan Pelanggaran                        interests annually.
      (Whistleblowing System - WBS) dengan menindaklanjuti setiap             d. Increase effectiveness of Whistle Blowing System by following
      pelaporan yang masuk.                                                       up every report received.
  e. Meninjau kembali dan memperbaharui kebijakan-kebijakan GCG               e. Review and renew the GCG policies and Code of Conduct and
      dan Pedoman Perilaku (Code of Conduct) dan mensosialisasi-                  disseminate them to all employees.
      kannya ke seluruh karyawan.




              Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan          Referensi                           Laporan Keuangan        123
              Corporate Governance          Corporate Social Responsibility        References                          Financial Statements       5
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Rapat Umum Pemegang Saham [RUPS]
General Meeting of Shareholders [GMS]


 SPINDO sebagai perusahan publik wajib mengadakan Rapat Umum             SPINDO as a listed company is required to convene General Meeting
 Pemegang Saham (RUPS) yang penyelenggaraannya mengacu pada              of Shareholders (GMS) that is in accordance with OJK Regulation No.
 Peraturan OJK Nomor: 32/POJK.04/2014 tentang Rencana dan                32/POJK.04/2014 on the Planning and Convention of General
 Penyelenggaraan Rapat Umum Pemegang Saham Perusahaan                    Meeting of Shareholders of Listed Companies and with the
 Terbuka dan Anggaran Dasar Perseroan. Sebagai otoritas tertinggi        Company's Articles of Association. GMS has the highest authority
 dalam Perseroan yang mempunyai kewenangan yang tidak diberikan          which is not given to the Board of Directors and the Board of
 kepada Direksi atau Dewan Komisaris dalam batas yang ditentukan         Commissioners and with boundaries set forth in laws and regulations
 dalam Undang-undang dan/atau Anggaran Dasar. Sesuai Anggaran            and/or the Articles of Association.
 Dasar Perusahaan, RUPS dibagi menjadi 2 (dua) yaitu:                    Pursuant to the Company's Articles of Association, GMS is composed
 1)   RUPS Tahunan wajib diselenggarakan dalam jangka waktu              of two (2) categories:
      paling lambat 6 (enam) bulan setelah tahun buku berakhir.          1) Annual General Meeting of Shareholders (AGMS) that is to be
 2)   RUPS lainnya (selanjutnya disebut juga RUPS luar biasa) dapat         held no later than six (6) months after the end of fiscal year.
      diselenggarakan pada setiap waktu berdasarkan kebutuhan            2) Extraordinary General Meeting of Shareholders (EGMS) that can
      untuk kepentingan Perusahaan.                                         at any time be held in alignment with the needs of the Company.



Pemegang Saham | Shareholders
 Pemegang Saham adalah individu atau badan hukum yang secara             A Shareholder is a person or legal entity that legally owns shares of
 sah memiliki saham Perusahaan. SPINDO wajib menjaga dan                 the Company. SPINDO is obliged to maintain and to build good
 mengupayakan hubungan komunikasi yang baik dengan Pemegang              communication with Shareholders and is obliged to honor their rights
 Saham dan wajib menghormati hak-hak Pemegang Saham                      as regulated in the prevailing laws and regulations.
 sebagaimana diatur dalam peraturan perundang-undangan yang
 berlaku.




Hak Pemegang Saham | Rights of Shareholders
 Pemegang Saham termasuk Pemegang Saham Minoritas dan                    Shareholders including Minority Shareholders and Foreign
 Pemegang Saham Asing, harus diperlakukan setara. Mereka memiliki        Shareholders must receive equal treatment. They own the basic
 hak-hak dasar yang harus dilindungi dan difasilitasi penggunaannya      rights that must be protected and facilitated by the corporation.
 oleh korporasi.
 1. Hak dasar Pemegang Saham harus mencakup hak untuk: (a)               1. Basic rights of Shareholders should include the rights to: (a) have
      dicatat kepemilikan sahamnya di Daftar Pemegang Saham                 its share ownership listed in the List of Shareholders of the
      Perseroan; (b) menghibahkan atau mentransfer saham, (c)               Company; (b) grant or transfer shares; (c) receive regularly and
      memperoleh secara teratur dan tepat waktu informasi material          timely material information relevant to the Company; (d)
      yang relevan tentang Perseroan, (d) berpartisipasi dan                participate and to cast vote in GMS; and (f) obtain part of the
      memberikan suara dalam RUPS, dan (f) memperoleh bagian laba           Company’s profit through GMS.
      Perseroan melalui RUPS.                                            2. Shareholders must be given adequate information to and have the
 2. Pemegang Saham harus diberikan informasi yang cukup untuk               right to approve and decline and to participate in deciding on
      dan berhak dalam menyetujui atau menolak serta berpartisipasi         fundamental changes such as: (a) changes in the Company’s
      dalam pengambilan keputusan tentang perubahan yang                    Article of Association; (b) changes in capital structure; and (c)
      fundamental seperti: (a) perubahan Anggaran Dasar Perseroan,          execution of transaction such as mergers, business combination
      (b) perubahan struktur permodalan, dan (c) pelaksanaan                and liquidation.
      transaksi seperti merger, penggabungan usaha dan likuidasi.




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  3. Pemegang Saham harus memiliki kesempatan untuk                         3. Shareholders must have the opportunity to participate effectively
     berpartisipasi secara efektif dalam memberikan suara di RUPS,             in casting vote during GMS, and own the right to obtain
     serta berhak untuk memperoleh informasi tentang aturan RUPS               information on GMS rules including the procedure to cast vote.
     termasuk prosedur pemberian suara.                                        a. Shareholders must be given adequate information and in a
     a. Pemegang Saham harus diberi informasi yang cukup dan                       timely manner concerning the date, venue, and agenda of
        tepat waktu tentang tanggal, tempat, dan agenda RUPS.                      GMS.
     b. Pemegang Saham memiliki kesempatan dalam batas                         b. Shareholders have the opportunity within a reasonable limit,
        kewajaran, untuk (1) mengajukan pertanyaan dalam RUPS,                     to (1) propose questions in GMS, including questions that
        termasuk pertanyaan yang berkaitan dengan hasil audit                      relate to the results of annual external audit, (2) propose
        eksternal tahunan, (2) memasukkan mata acara ke dalam                      agenda items to the GMS agenda.
        agenda RUPS.




  Wewenang Pemegang Saham | Authorities of Shareholders

  Pemegang Saham memiliki wewenang untuk:                                   Shareholders have the authority to:
  1. Mengevaluasi kinerja Dewan Komisaris dan Direksi sebagaimana           1. Evaluate the performance of the Board of Commissioners and
     tercantum dalam Laporan Keuangan dan Laporan Tahunan.                     Directors as stated in the Financial Statement and Annual Report.
  2. Menyetujui usulan penggunaan laba termasuk pembagian                   2. Approve suggestion on the use of profit including dividend
     dividen.                                                                  distribution.
  3. Menyetujui remunerasi Dewan Komisaris dan Direksi.                     3. Approve the remuneration of the Board of Commissioners and the
  4. Menyetujui perubahan dan pengesahan Anggaran Dasar                        Board of Directors.
     Perseroan.                                                             4. Approve changes and attestation of the Company’s Article of
  5. Mengangkat dan memberhentikan anggota Dewan Komisaris                     Association.
     dan Direksi.                                                           5. Appoint and dismiss a member of the Board of Commissioners
                                                                               and the Board of Directors.




  Tanggung Jawab Pemegang Saham | Responsibilities of Shareholders
  Seluruh Pemegang Saham harus dapat:                                       All Shareholders should be able to:
  1. Memisahkan kepemilikan harta Perusahaan dengan kepemilikan             1. Separate the ownership of the Company’s wealth with that of
     harta pribadi.                                                            their personal wealth.
  2. Memisahkan fungsinya sebagai Pemegang Saham dan sebagai                2. Separate their functions as Shareholders and as members of the
     anggota Dewan Komisaris atau Direksi dalam hal Pemegang Saham             Board of Commissioners or the Board of Directors in the case of
     menjabat pada salah satu dari kedua organ tersebut.                       Shareholders serve in one of the two organs.




          Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan          Referensi                        Laporan Keuangan         125
          Corporate Governance            Corporate Social Responsibility        References                       Financial Statements        5
Page 134
                                                                                                                     2024 Annual Report




Kebijakan Hubungan dengan Pemegang Saham | Policies of Affiliation with Shareholders

 Perseroan telah menyediakan informasi yang sama kepada                    The Company has provided the same information to Shareholders in a
 Pemegang Saham secara tepat waktu, benar, dan teratur. Adapun             timely, correct, and regular manner. The policies that support the
 kebijakan yang mendukung ketersediaan informasi kepada                    availability of information to Shareholders are as follows:
 Pemegang Saham yaitu:                                                     1. Holding GMS refers to Chapter II.A.1 of the Corporate
 1. Pelaksanaan RUPS Perseroan mengacu pada Pedoman Tata                        Governance Guidelines with the Board of Commissioners’ Decree
      Kelola Perusahaan pada Bab II.A.1 dengan SK No.001/Kom-                   No. 001/Kom-ISSP/2018 concerning GCG Code of PT Steel Pipe
      ISSP/2018 tentang Pedoman Good Corporate Governance (GCG                  Industry of Indonesia Tbk and the Law No. 40 of 2007 concerning
      Code) PT Steel Pipe Industry of Indonesia Tbk dan Undang-                 Limited Liability Companies.
      Undang No. 40 Tahun 2007 tentang Perseroan Terbatas.                 2. Information Disclosure Policy refers to Chapter III. D.2 of the
 2. Kebijakan Keterbukaan Informasi mengacu pada Pedoman Tata                   Corporate Governance Guidelines with the Board of
      Kelola Perusahaan pada Bab III.D.2 dengan SK No.001/Kom-                  Commissioners’ Decree No. 001/Kom-ISSP/2018 concerning
      ISSP/2018 tentang Pedoman Good Corporate Governance (GCG                  GCG Code of PT Steel Pipe Industry of Indonesia Tbk.
      Code) PT Steel Pipe Industry of Indonesia Tbk.                       3. Remuneration Policy refers to Chapter III.A.2 of the Corporate
 3. Kebijakan Komunikasi mengacu pada Pedoman Tata Kelola                       Governance Guidelines with the Board of Commissioners’ Decree
      Perusahaan pada Bab III.A.2 dengan SK No.001/Kom-ISSP/2018                No. 001/Kom-ISSP/2018 concerning GCG Code of PT Steel Pipe
      tentang Pedoman Good Corporate Governance (GCG Code) PT                   Industry of Indonesia Tbk.
      Steel Pipe Industry of Indonesia Tbk.




 Wewenang RUPS | Authority of GMS
 1)   Menyetujui dan mengesahkan Laporan Tahunan yang telah                1)   Approve and accept Annual Report of the Company that had
      ditelaah oleh Dewan Komisaris termasuk laporan tugas                      been reviewed by the Board of Commissioners, including the
      pengawasan Dewan Komisaris;                                               Board of Commissioners' supervisory report;
 2)   Mengesahkan Laporan Keuangan yang telah diaudit oleh                 2)   Ratify Financial Statements of the Company that had been
      Akuntan Publik;                                                           audited by Public Accountants;
 3)   Menetapkan penggunaan laba bersih Perusahaan;                        3)   Determine the use of the net profits of the Company;
 4)   Mengangkat dan memberhentikan Dewan Komisaris dan                    4)   Appoint and dismiss the Board of Commissioners and the Board
      Direksi;                                                                  of Directors;
 5)   Menetapkan remunerasi Dewan Komisaris dan Direksi;                   5)   Determine the remuneration of the Board of Commissioners and
 6)   Menetapkan pembagian tugas dan tanggung jawab pengurusan                  the Board of Directors;
      di antara anggota Direksi dan/atau batas dan syarat kewenangan       6)   Assign duties and responsibilities to members of the Board of
      Direksi untuk mewakili Perusahaan;                                        Directors and/or determine the limit to and requirement of
 7)   Menetapkan akuntan publik yang terdaftar di OJK serta                     authorities of the Board of Directors to represent the Company;
      menetapkan jumlah honorarium dan persyaratan lain                    7)   Appoint public accountants registered with the OJK and
      pengangkatan akuntan publik tersebut;                                     determine the compensation and other terms pertaining to the
 8)   Memberikan persetujuan atas aksi korporasi Perusahaan sesuai              appointment of that public accountant;
      dengan peraturan dan ketentuan yang berlaku;                         8)   Give approval to actions of the Company in accordance with
 9)   Wewenang lainnya sebagaimana diatur dalam Anggaran Dasar                  existing laws and regulations;
      Perseroan dan peraturan perundang-undangan.                          9)   Other authorities as set forth in the Company's Articles of
                                                                                Association and applicable regulations of law.




126                     Ikhtisar Utama                 Laporan Manajemen                 Profil Perusahaan            Analisa & Pembahasan Manajemen
  5                       Highlights                   Management Report                 Company Profile              Management Discussion & Analysis
Page 135
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  Akses Informasi RUPS kepada Pemegang Saham | Access to Information of GMS for Shareholders

      Media Cetak & Elektronik                                  Rapat Umum Pemegang Saham                                        Pertemuan Investor
     Printed and Electronic Media                               General Meeting of Shareholders                                   Investor Meeting

 Ÿ Situs / web perusahaan www.spindo.co.id    Ÿ    Forum Pemegang Saham untuk penggunaan sebagian hak-haknya Ÿ                  Pertemuan resmi secara ber-
 Ÿ The Company’s website www.spindo.co.id          bagi Direksi untuk mempertanggungjawabkan pengelolaan atas                   kelompok maupun perorangan
                                                   Perseroan, dan bagi Dewan Komisaris untuk mempertanggung- Ÿ                  Official meetings in groups or
 Ÿ Iklan di media massa                            jawabkan pengawasannya atas pengelolaan Perseroan oleh Direksi.              individually
 Ÿ Advertisement in mass media                Ÿ    Forum for Shareholders to exercise part of its rights to the Board of
                                                   Directors to request report on the management of the Company and to Ÿ        Roadshow domestik
 Ÿ Laporan Keuangan dan Laporan Tahunan            the Board of Commissioners to request report on its supervision Ÿ            Domestic roadshow
 Ÿ Financial Statements and Annual Reports         function of the management of the Company by the Board of Directors.


 Ÿ Surat elektronik yang ditujukan ke:

  corsec@spindo.co.id
 Ÿ Electronic mail addressed to:

  corsec@spindo.co.id




  Mekanisme Penyelenggaraan RUPS | GMS Mechanism
  Pada tahun 2024, Perseroan telah menyelenggarakan RUPS Tahunan                  In 2024, the Company held 1 (one) Annual GMS for the 2023
  untuk Tahun Buku 2023 pada tanggal 28 Juni 2024. SPINDO                         Financial Year on 28 June 2024. SPINDO organized GMS in 2024
  menyelenggarakan RUPS tahun 2024 sesuai dengan mekanisme                        according to the mechanisms stated in the provision of the Article of
  yang tercantum dalam ketentuan Anggaran Dasar Perseroan dan                     Association and POJK No. 32/POJK.04/2014 concerning Planning
  POJK No. 32/POJK.04/2014 tentang Rencana dan Penyelenggaraan                    and Holding General Meetings of Shareholders of Public Limited
  Rapat Umum Pemegang Saham Perusahaan Terbuka.                                   Company.


  Undangan RUPS dimuat melalui situs web penyedia e-RUPS                          The invitation to GMS are announced in e-GMS provider (eASY.KSEI),
  (eASY.KSEI), situs web PT Bursa Efek Indonesia dan situs web                    the website of the Indonesia Stock Exchange and the website of the
  Perseroan [www.spindo.com] tidak kurang dari 21 hari sebelum                    Company [www.spindo.com] no less than 21 days prior to the GMS.
  pelaksanaan RUPS. Undangan menentukan siapa yang berhak hadir                   The invitation determines who is entitled to attend and the procedure
  dan prosedur untuk memberikan kuasa untuk hadir.                                to grant a proxy to attend.


  Pada RUPS, pemimpin rapat terlebih dahulu menyampaikan bahwa                    In GMS, the chairman of the meeting is first conveys that the
  pelaksanaan RUPS mengacu pada tata tertib RUPS yang telah                       implementation of the GMS refers to the GMS rules of conduct that
  dibagikan. Setelah itu pemimpin rapat memberikan kesempatan                     have been distributed. The chairman of the meeting gives the
  kepada Pemegang Saham dan atau kuasanya untuk mengajukan                        opportunity to Shareholders and/or their proxies to propose
  pertanyaan/tanggapan dan/atau usulan pada setiap mata acara rapat.              questions/responses and/or suggestions on every agenda item.


  Pemimpin Rapat atau Direktur yang ditunjuk oleh Pemimpin Rapat                  The Meeting Chairman or Director appointed by the meeting chair will
  menjawab atau menanggapi pertanyaan/catatan Pemegang Saham                      answer or respond to the queries/notes from the attending
  yang hadir. Setelah semua pertanyaan dijawab dan ditanggapi                     Shareholders. After all questions have been replied to and responded
  selanjutnya dilakukan pemungutan suara dan hanya Pemegang                       to, the meeting continues with the voting process and only
  Saham dan/atau kuasanya yang sah yang berhak untuk                              Shareholders and/or their legal proxies who has the right to cast vote.
  mengeluarkan suara.




           Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan                Referensi                          Laporan Keuangan            127
           Corporate Governance            Corporate Social Responsibility              References                         Financial Statements           5
Page 136
                                                                                                                                            2024 Annual Report




                             Tahapan Penyelenggaraan RUPST Tahun Buku 2023 di tahun 2024
                                     Timeline of AGMS for Financial Year 2023 in 2024

No.           Kegiatan                                        Ketentuan                                       Tanggal                        Pelaksanaan
               Activity                                       Provision                                        Date                         Implementation

 1.   Pemberitahuan kepada OJK         Pe r u s a h a a n Te r b u k a w a j i b t e r l e b i h d a h u l u 16 Mei 2024        Menyampaikan surat pemberitahuan
      Notification to OJK               menyampaikan pemberitahuan mata acara rapat 16 May 2024                                  rencana RUPS Tahunan ke OJK dan BEI
                                       kepada Otoritas Jasa Keuangan paling lambat 5 hari                                       (melalui e-reporting).
                                       kerja sebelum pengumuman RUPS, dengan tidak                                              Submitted notification letter of Annual GMS
                                       memperhitungkan tanggal pengumuman RUPS.                                                 plan to OJK and BEI (through e-reporting).


                                       Public Company must first submit notification
                                       pertaining to meeting agenda to OJK no less than five
                                       working days before the announcement of GMS, by not
                                       taking into account the date of the announcement of
                                       the meeting.


 2.   Pengumuman RUPS                  Perusahaan Terbuka wajib melakukan pengumuman 24 Mei 2024                                Pengumuman RUPS Tahunan melalui situs
      Tahunan                          RUPS kepada pemegang saham paling lambat 14 hari 24 May 2024                             web penyedia e-RUPS (eASY.KSEI), situs
      Announcement of Annual           s e b e l u m p e m a n g g i l a n R U P S, d e n g a n t i d a k                       web PT Bursa Efek Indonesia dan situs web
      GMS                              memperhitungkan tanggal pengumuman dan tanggal                                           Perseroan [www.spindo.com] pada tanggal
                                       pemanggilan.                                                                             14 Mei 2024.
                                       Public Company is obligated to announce GMS to                                           Announcement of Annual GMS via e-GMS
                                       Shareholders at least fourteen days prior to GMS, by                                     provider (eASY.KSEI), the website of the
                                       not taking into account the date of the announcement                                     Indonesia Stock Exchange and the website
                                       and the date of the summon.                                                              of the Company [www.spindo.com] on May
                                                                                                                                14, 2024.


 3.   Recording Date Daftar            1 hari kerja sebelum pemanggilan RUPS.                               7 Juni 2024         1 (satu) hari kerja sebelum pemanggilan
      Pemegang Saham yang              One working day before the summon of GMS.                            7 June 2023         RUPS Tahunan.
      Berhak Hadir dalam RUPS                                                                                                   1 (one) working day before the summon of
      Tahunan                                                                                                                   Annual GMS.
      Recording Date of List of
      Shareholders Entitled to
      Attend the Annual GMS


 4.   Pemanggilan RUPS Tahunan         Perusahaan Terbuka wajib melakukan pemanggilan 8 Juni 2024                               Pemanggilan RUPS Tahunan melalui situs
      Invitation/Summon to             kepada pemegang saham paling lambat 21 hari 8 June 2024                                  web penyedia e-RUPS (eASY.KSEI), situs
      Annual GMS                       sebelum RUPS, dengan tidak memperhitungkan                                               web PT Bursa Efek Indonesia dan situs web
                                       tanggal pemanggilan dan tanggal RUPS.                                                    Perseroan [www.spindo.com].
                                       Public Company is obligated to summon / invite                                           Summoned to Annual GMS via e-GMS
                                       Shareholders at least twenty-one days prior to GMS,                                      provider (eASY.KSEI), the website of the
                                       by not taking into account the date of the                                               Indonesia Stock Exchange and the website
                                       date of the summon and the date of GMS.                                                  of the Company [www.spindo.com].




128                   Ikhtisar Utama                         Laporan Manajemen                               Profil Perusahaan               Analisa & Pembahasan Manajemen
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Page 137
Laporan Tahunan 2024




                                   Tahapan Penyelenggaraan RUPST Tahun Buku 2023 di tahun 2024
                                           Timeline of AGMS for Financial Year 2023 in 2024

  No.           Kegiatan                                  Ketentuan                                   Tanggal                           Pelaksanaan
                 Activity                                 Provision                                    Date                            Implementation

  5.    Pelaksanaan RUPS              RUPS wajib diselenggarakan di wilayah Negara 28 Juni 2024                     RUPS Tahunan dilaksanakan pada pukul 13.22-13.54
        Tahunan                       Republik Indonesia.                                            28 June 2024   WIB di Auditorium Gedung Baja Lantai 9C, Jalan
        Implementation of             It is mandatory to hold GMS within the territory of                           Pangeran Jayakarta nomor 55, Jakarta Pusat 10730.
        Annual GMS                    the Republic of Indonesia.                                                    Annual GMS were held at 13.22-13.54 Western
                                                                                                                    Indonesia Time (WIB) in Auditorium Gedung Baja Lantai
                                                                                                                    9C, Jalan Pangeran Jayakarta nomor 55, Jakarta Pusat
                                                                                                                    10730.


  6.    Penyampaian Ringkasan         Pengumuman Ringkasan Risalah RUPS diumum- 4 Juli 2024                         Penyampaian Ringkasan Risalah RUPS Tahunan
        Risalah RUPS Tahunan          kan paling lambat 2 hari kerja setelah RUPS 4 July 2024                       melalui surat kepada OJK dan BEI 1 hari setelah
        Submission of the             diselenggarakan dan disampaikan ke OJK dan BEI                                penyelenggaraan RUPS Tahunan.
        Minutes Summary of            dilengkapi dengan resume keputusan RUPS yang                                  Reported the Summary / Minutes of Annual GMS in a
        Annual GMS                    dikeluarkan oleh Notaris.                                                     written letter to OJK & BEI in 1 day after the Annual GMS.
                                      The GMS Minutes Summary must be announced
                                      two days at the latest after the GMS is organized
                                      and reported to OJK and BEI complete with the
                                      Summary of GMS Resolution issued by Notary.


  7.    Penyampaian Risalah / Berita Risalah RUPS wajib disampaikan kepada Otoritas Jasa 14Juli 2024                Penyampaian Risalah/Berita Acara RUPS Tahunan melalui surat

        Acara RUPS Tahunan            Keuangan paling lambat 30 hari setelah RUPS 14 July 2024                      kepada OJK 14 hari setelah penyelenggaraan RUPS Tahunan.

        Submission of the Summary / diselenggarakan.                                                                Reported the Summary / Minutes of Annual GMS in a written

        Minutes of Annual GMS         Minutes of GMS must be reported to the Financial                              letter to OJK in 14 days after the Annual GMS.

                                      Services Authority (OJK) at least thirty days after the date

                                      of GMS.




  Ketentuan Kuorum Dalam RUPS | Provision on Quorum in GMS

  Kuorum kehadiran dan kuorum keputusan RUPS untuk mata acara                                 Attendance quorum and decision quorum of GMS for agenda items
  yang harus diputuskan dalam RUPS dilakukan dengan mengikuti                                 that must be resolved in the GMS refer to the provisions based on
  ketentuan berdasarkan POJK dan Anggaran Dasar Perseroan. Kuorum                             POJK and Article of Association. Attendance quorum in the Annual
  kehadiran dalam RUPS Tahunan Tahun Buku 2023 telah terpenuhi dan                            GMS Financial Year 2023 is as required and the meeting is valid and
  rapat adalah sah dan dapat mengambil keputusan-keputusan yang sah                           qualified to reach decisions that are valid and binding for the
  dan mengikat bagi para Pemegang Saham Perseroan untuk setiap                                Shareholders for every agenda item.
  Mata Acara Rapat.




          Tata Kelola Perusahaan             Tanggung Jawab Sosial Perusahaan                          Referensi                          Laporan Keuangan               129
          Corporate Governance                 Corporate Social Responsibility                        References                         Financial Statements              5
Page 138
                                                                                                                      2024 Annual Report




Proses Penghitungan Suara Dalam RUPS | Vote Tabulation Process in GMS

 Perhitungan suara dan prosedur pemungutan suara dalam RUPS                   Vote tabulation and voting procedure in GMS are explained in the
 dijelaskan dalam Tata Tertib RUPS yang dibagikan kepada                      Rules of Order of the GMS that has been distributed to Shareholders
 Pemegang Saham dan dibacakan oleh Pimpinan Rapat sebelum                     and read out by the meeting chairperson before the GMS begins. The
 RUPS dimulai. Adapun mekanisme pengambilan keputusan RUPS                    following is the GMS decision-making mechanism:
 adalah sebagai berikut:                                                      1. The Chairperson of GMS shall give the opportunity to
 1. Pimpinan RUPS akan memberikan kesempatan kepada Para                         Shareholders and Shareholder’s Attorneys to raise hand should
      Pemegang Saham dan Kuasa Pemegang Saham agar                               they disapprove or abstain towards the proposed decision that is
      mengangkat tangan apabila tidak menyetujui atau menyatakan                 about to be made in GMS.
      abstain terhadap usulan keputusan yang akan diambil RUPS.
 2. Bagi Para Pemegang Saham dan Kuasa Pemegang Saham yang                    2. For Shareholders and Shareholder’s Attorneys who do not raise
      tidak mengangkat tangan dianggap memberikan persetujuan                    their hands are considered as an approval for the proposed
      atas usulan keputusan yang akan diambil di dalam RUPS.                     decision that will be made in the GMS.
 3. Bagi Para Pemegang Saham dan Kuasa Pemegang Saham yang                    3. For Shareholders and Shareholder’s Attorneys that raise hands to
      mengangkat tangan untuk memberikan suara tidak setuju atau                 voice their disapproval or to declare abstain on the proposed
      menyatakan abstain atas usulan keputusan yang akan diambil di              decisions that are to be made at GMS, must state their names and
      dalam RUPS, harus menyebutkan Nama dan Jumlah Saham yang                   the number of shares owned or represented.
      dimiliki atau diwakili.
 4. Pemegang Saham dengan hak suara yang hadir dalam RUPS                     4. Shareholders with voting rights present in GMS but do not cast
      namun tidak mengeluarkan suara (abstain) dianggap                          vote (abstain) are considered to cast the same vote as the majority
      mengeluarkan suara yang sama dengan suara mayoritas                        Shareholders who voted.
      Pemegang Saham yang mengeluarkan suara.
 5. Bagi Para Pemegang Saham dan Kuasa Pemegang Saham,                        5. For Shareholders and Shareholder’s Attorneys, should they
      apabila mereka mewakili atau memiliki lebih dari 1 saham maka              represent or own more than 1 (one) share, then the vote cast
      suara yang dikeluarkan untuk memberikan persetujuan atau                   either to approve or disapprove the GMS proposed decisions are
      penolakan atas usulan keputusan RUPS tersebut dianggap                     considered as representing the other shares they own.
      mewakili dari saham-saham lain yang dimilikinya.
 Prosedur pemungutan suara RUPS Tahunan telah secara lengkap                  The voting procedures at the Annual GMS has been outlined in full
 dituangkan dalam Tata Tertib Rapat yang diberikan dan dibacakan              detail in the Rules of Order of the Meeting which has been informed
 oleh Petugas Rapat. Perseroan telah menunjuk pihak independen                and read out by the Meeting Officer before Annual GMS begins. The
 dari Notaris Christina Dwi Utami, S.H., M.Hum., M.Kn., selaku Notaris        Company has appointed an independent party from Notaris Christina
 Publik dan PT Adimitra Jasa Korpora (“Adimitra”) selaku Biro                 Dwi Utami, S.H., M.Hum., M.Kn., as Public Notary and PT Adimitra
 Administrasi Efek untuk melakukan penghitungan suara dan/atau                Jasa Korpora (“Adimitra”) as Share Registrar to carry out the vote
 melakukan validasi suara dalam RUPST 2024 .                                  tabulation and/or validate the votes in the AGMS 2024.




 Kehadiran Lembaga & Profesi Penunjang Pasar Modal dalam RUPS |
 Attendance of Institutions & Capital Market Supporting in GMS
                                       Kehadiran Lembaga & Profesi Penunjang Pasar Modal dalam RUPST 2024
                                Attendance of the Institutions & Capital Market Supporting Professionals in AGMS 2024

          Biro Administrasi Efek                            Notaris                       Kantor Akuntan Publik                      Auditor
              Share Registrar                               Notary                        Public Accountant Firm                     Auditor

 PT Adimitra Jasa Korpora (“Adimitra’)           Christina Dwi Utami, S.H.,           Kanaka Puradiredja Suhartono               Tan Siddharta
                                                 M.Hum., M.Kn.                            – Nexia International




130                       Ikhtisar Utama                 Laporan Manajemen                 Profil Perusahaan           Analisa & Pembahasan Manajemen
  5                         Highlights                   Management Report                 Company Profile             Management Discussion & Analysis
Page 139
Laporan Tahunan 2024




 Rapat Umum Pemegang Saham Tahunan [RUPST]
 Annual General Meeting of Shareholders [AGMS]


  Pelaksanaan RUPS Tahunan | Implementation of Annual GMS
  RUPST telah dilaksanakan pada hari Jumat, 28 Juni 2024 di                 The AGMS was held on Friday, 28 June 2024 at Auditorium Gedung
  Auditorium Gedung Baja, Lantai 9C, Jalan Pangeran Jayakarta No. 55,       Baja, Lantai 9C, Jl. Pangeran Jayakarta No. 55, Jakarta Pusat, Jakarta
  Jakarta Pusat 10730. RUPST dihadiri oleh para pemegang saham              10730. The AGMS was attended by the shareholders and their
  dan kuasa pemegang saham yang mewakili 6.045.708.040 saham                proxies representing 6.045.708.040 shares or 85,57% of
  atau 85,57% dari 7.065.340.735 saham yang merupakan seluruh               7.065.340.735 shares which are all shares with valid voting rights
  saham dengan hak suara yang sah yang telah dikeluarkan oleh               that have been issued by the Company (after deducting the number
  Perseroan (setelah dikurangi dengan jumlah saham yang telah dibeli        of shares issued) repurchased by the Company).
  kembali oleh Perseroan).


  RUPST dipimpin oleh Bapak Tedja Sukmana Hudianto, selaku Wakil            The AGMS was chaired by Mr. Tedja Sukmana Hudianto, as the Vice
  Direktur Utama Perseroan Perseroan.                                       President Director of the Company.

  Agenda RUPST 2024 | Agenda for the AGMS 2024
  Mata Acara                                                                Agenda:
  1. Persetujuan dan pengesahan Laporan Tahunan Perseroan Tahun             1. Approval on the Annual Report for the fiscal year of 2023 and
     Buku 2023 termasuk di dalamnya Laporan Kegiatan Perseroan,                ratification on the Financial Statement of the Company for the
     Laporan Tugas Pengawasan Dewan Komisaris dan Laporan                      financial year ended on 31 December 2023 and provide full
     Keuangan Perseroan Tahun Buku 2023, serta pemberian                       acquittal and discharge (volledig acquit et de charge) to the
     pelunasan dan pembebasan tanggung jawab sepenuhnya                        members of the Board of Directors and Board of Commissioners
     (acquit et de charge) kepada Direksi dan Dewan Komisaris                  of the Company for management and supervision performed
     Perseroan atas tindakan pengurusan dan pengawasan yang                    during the fiscal year of 2023;
     telah dijalankan selama Tahun Buku 2023;                               2. Resolution on the determination of the use of the Company’s net
  2. Penetapan Penggunaan Laba Bersih Tahun Buku 2023;                         profit for the financial year of 2023;
  3. Penunjukan Akuntan Publik dan/atau Kantor Akuntan Publik yang          3. Approval on the appointment of Public Accountant to audit the
     akan melakukan audit atas laporan keuangan Perseroan untuk                Financial Statement of the Company for the financial year ended
     Tahun Buku 2024, dan pemberian wewenang untuk menetapkan                  on 31 December 2024 and authorize the Company's Board of
     honorarium dan persyaratan lain atas penunjukan tersebut;                 Commissioners to determine the amount of the honorarium of the
  4. Penetapan Remunerasi untuk Direksi dan Dewan Komisaris                    Public Accountant along with other terms of their appointment;
     Berikut Fasilitas dan Tunjangan Lainnya;                               4. Resolution on the determination of the salary, honorarium and
  5. Perubahan Susunan Anggota Direksi dan Dewan Komisaris;                    allowances and other facilities for the member of the Board of
  6. Laporan Dan Pertanggungjawaban Realisasi Penggunaan Dana                  Directors and the Board of Commissioners;
     Hasil Penawaran Umum Obligasi Dan Sukuk;                               5. Approval on the changes to the composition of the member of the
  7. Persetujuan Atas Perubahan Pasal 3 Anggaran Dasar Perseroan               Board of Commissioners and Board of Directors of the Company;
     Mengenai Maksud Dan Tujuan Serta Kegiatan Usaha Perseroan,             6. Report and accountability for the use of proceeds from the public
     terkait perumusan dan penyusunan kembali kegiatan usaha                   offering of bonds and sukuk.
     penunjang;                                                             7. Approval of the Amendment to Article 3 of the Company's
  8. Persetujuan untuk menjaminkan lebih dari 1/2 bagian atau                  Articles of Association Regarding the Company's Objectives and
     seluruh harta kekayaan Perseroan dalam rangka fasilitas                   Purposes as well as Business Activities, related to the formulation
     pinjaman yang akan diperoleh perseroan dari Bank dan/atau                 and reorganization of supporting business activities.
     Lembaga Keuangan lainnya termasuk untuk penerbitan Obligasi            8. Approval to guarantee more than 1/2 or the entire wealth of the
     dan/atau Sukuk di Pasar Modal.                                            Company in the context of credit facilities that the Company will
  (Untuk selanjutnya disebut Rapat)                                            obtain from Banks and/or Financial Institutions, including for the
                                                                               issuance of Bonds and/or Sukuk in the Capital Market
                                                                            (Hereinafter referred to as the Meeting)


          Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan          Referensi                       Laporan Keuangan           131
          Corporate Governance            Corporate Social Responsibility        References                      Financial Statements          5
Page 140
                                                                                                                          2024 Annual Report




Kehadiran Direksi & Dewan Komisaris dalam RUPST 2024 |
Attendance of Board of Directors & Board of Commissioners in AGMS 2024


                                                Kehadiran Direksi dalam RUPST 2024
                                          Attendance of the Board of Directors in AGMS 2024
Nama                                                         Jabatan                               Keanggotaan pada Komite                   Kehadiran
Name                                                         Position                              Membership in Committee                   Attendance

 Ibnu Susanto                          Direktur Utama                                                           -
                                       President Director
                                                                                                                                                    ü

 Tedja Sukmana Hudianto                Wakil Direktur Utama                                                     -
                                       Vice President Director
                                                                                                                                                    ü

 Soediarto Soerjoprahono               Direktur                                                                 -
                                       Director
                                                                                                                                                    û

 Tikman Utomo                          Direktur                                                                 -
                                       Director
                                                                                                                                                    û

 The, Hanny Purnomo                    Direktur                                                                 -                                  [ü]
                                       Director
                                                                                        turut mengikuti jalannya Rapat melalui aplikasi Webinar Zoom KSEI
                                                                                    [ü] participate in the meeting through the KSEI Zoom Webinar application




                                           Kehadiran Dewan Komisaris dalam RUPST 2024
                                       Attendance of the Board of Commissioners in AGMS 2024
Nama                                                         Jabatan                              Keanggotaan pada Komite                    Kehadiran
Name                                                         Position                             Membership in Committee                    Attendance

 Makmur Widjaja                        Komisaris Utama (Komisaris Independen)                                       -
                                       President Commissioner (Independent Commissioner)
                                                                                                                                                    û

 Endang Fifi Susanto                    Komisaris                                                                    -
                                       Commissioner
                                                                                                                                                    û

 Bing Hartono Poernomosidi             Komisaris Independen                                                         -
                                       Independent Commissioner
                                                                                                                                                    û

 Welly Tantono                         Komisaris Independen                                         Anggota Komite Audit
                                       Independent Commissioner                                  Chairman of Audit Committee
                                                                                                                                                    û




 Pengajuan Pertanyaan dan/atau Pendapat | Submission of Questions and/or Opinions

 Pemegang saham dan kuasa pemegang saham diberi kesempatan                   Shareholders and their proxies are given the opportunity to ask
 untuk mengajukan pertanyaan dan/atau pendapat untuk tiap mata               questions and/or opinions for each agenda item of the Meeting, but no
 acara Rapat, namun tidak ada pemegang saham dan kuasa                       shareholder and proxies of shareholders have asked questions and/or
 pemegang saham yang mengajukan pertanyaan dan/atau pendapat.                opinions.




132                   Ikhtisar Utama                     Laporan Manajemen                Profil Perusahaan                Analisa & Pembahasan Manajemen
  5                     Highlights                       Management Report                Company Profile                  Management Discussion & Analysis
Page 141
Laporan Tahunan 2024




  Mekanisme Pengambilan Keputusan | Decision Making Mechanism

  Pengambilan keputusan seluruh mata acara dilakukan berdasarkan           Decision-making on all agenda items is conducted based on
  musyawarah untuk mufakat, dalam hal musyawarah untuk mufakat             deliberation to reach consensus. In the event that consensus cannot
  tidak tercapai, pengambilan keputusan dilakukan dengan                   be reached, decisions are made by voting.
  pemungutan suara.




  Keputusan dan Realisasi Hasil RUPST 2024 | Resolutions and Realizations of AGMS 2024


   Mata Acara Pertama | First Agenda
  Hasil Keputusan RUPST | AGMS Resolution
  Menyetujui dan mengesahkan Laporan Tahunan Perseroan untuk               Approved and ratified the Company's Annual Report for the 2023
  tahun buku 2023 termasuk di dalamnya Laporan Kegiatan Perseroan,         financial year including the Company's Activity Report, the
  Laporan Tugas Pengawasan Dewan Komisaris dan Laporan                     Supervisory Report of the Board of Commissioners and the 2023
  Keuangan tahun buku 2023, serta memberikan pelunasan dan                 Financial Report, as well as providing full settlement and discharge of
  pembebasan tanggung jawab sepenuhnya (acquit et de charge)               responsibilities (acquit et de charge) to the Board of Directors and the
  kepada Direksi dan Dewan Komisaris Perseroan atas tindakan               Board of Commissioners of the Company for the management and
  pengurusan dan pengawasan yang mereka lakukan dalam tahun                supervisory actions they carried out in the 2023 financial year as long
  buku 2023 sepanjang tindakan-tindakan tersebut tercermin dalam           as these actions are reflected in the Annual Report.
  Laporan Tahunan tersebut.



  Hasil dari Pemungutan Suara RUPST | Outcome of AGMS Voting

  Agenda                             Suara Setuju                          Suara Tidak Setuju                  Abstain
  Agenda                             Approve Votes                         Disapproving Votes                  Abstain
  Pertama | First                    6.037.965.086 suara | votes           0 | votes                           7.742.954 suara | votes


  6.045.708.040 suara, atau sebesar 100%, atau lebih dari 1/2 bagian       6,045,708,040 votes, or 100%, or more than 1/2 part of the total
  dari jumlah seluruh suara yang dikeluarkan secara sah dalam Rapat.       number of votes legally cast in the Meeting.


  Realisasi | Realization
  Telah Direalisasikan | Has been realized




           Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan           Referensi                     Laporan Keuangan              133
           Corporate Governance          Corporate Social Responsibility         References                    Financial Statements             5
Page 142
                                                                                                                        2024 Annual Report




  Mata Acara Kedua | Second Agenda
Hasil Keputusan RUPST | AGMS Resolution
 a. Menyetujui penggunaan laba bersih Perseroan tahun buku 2023,              a. Approving the use of the Company's net profit for the fiscal year
      sebagai berikut:                                                            2023, as follows:
      i.   sebesar Rp105.980.111.025,00 (seratus lima miliar sembilan             I.   Amounting to Rp105,980,111,025.00 (one hundred five
           ratus delapan puluh juta seratus sebelas ribu dua puluh lima                billion nine hundred eighty million one hundred eleven
           rupiah) atau sebesar Rp15,00 (lima belas rupiah) per saham,                 thousand twenty-five rupiahs) or Rp15.00 (fifteen rupiahs)
           dibagikan sebagai dividen tunai kepada para pemegang                        per share, to be distributed as cash dividends to the
           saham Perseroan, dengan memperhatikan peraturan                             Company's shareholders, in compliance with applicable tax
           perpajakan yang berlaku;                                                    regulations;
      ii. sebesar Rp10.000.000.000,00 (sepuluh miliar rupiah)                     ii. Amounting to Rp10,000,000,000.00 (ten billion rupiahs) to
           disisihkan dan dibukukan sebagai dana cadangan;                             be set aside and recorded as a reserve fund;
      iii. sisanya dimasukkan dan dibukukan sebagai laba ditahan,                 iii. The remainder to be retained and recorded as retained
           untuk menambah modal kerja Perseroan.                                       earnings, to increase the Company's working capital.
 b. Memberikan kuasa dan wewenang kepada Direksi Perseroan                    b. Granting power and authority to the Company's Board of
      untuk melakukan setiap dan semua tindakan yang diperlukan                   Directors to undertake any and all necessary actions related to the
      sehubungan dengan keputusan tersebut diatas, sesuai dengan                  above decisions, in accordance with applicable laws and
      peraturan perundang-undangan yang berlaku.                                  regulations.


Hasil dari Pemungutan Suara RUPST | Outcome of AGMS Voting

 Agenda                                   Suara Setuju                        Suara Tidak Setuju                   Abstain
 Agenda                                   Approve Votes                       Disapproving Votes                   Abstain
 Kedua | Second                           6.044.702.640 suara | votes         0 suara | votes                      1.005.400 suara | votes


 6.045.708.040 suara, atau sebesar 100%, atau lebih dari 1/2 bagian           6,045,708,040 votes, or 100%, or more than 1/2 part of the total
 dari jumlah seluruh suara yang dikeluarkan secara sah dalam Rapat.           number of votes legally cast in the Meeting.


 Realisasi | Realization
 Telah Direalisasikan | Has been realized




  Mata Acara Ketiga | Third Agenda
Hasil Keputusan RUPST | AGMS Resolution
 Memberikan wewenang dan kuasa kepada Dewan Komisaris                         Granted authority and power to the Board of Commissioners of the
 Perseroan, untuk menunjuk Akuntan Publik dan/atau Kantor Akuntan             Company, to appoint a Public Accountant and/or Public Accountant
 Publik, dengan kriteria Independen dan terdaftar di Otoritas Jasa            Firm, with independent criteria and registered with the Financial
 Keuangan, yang akan mengaudit laporan keuangan Perseroan untuk               Services Authority, which will audit the Company's financial
 tahun buku 2024, oleh karena sedang dipertimbangkan dan                      statements for the financial year 2024, because it is being considered
 dievaluasi untuk penunjukan Akuntan Publik dan/atau Kantor                   and evaluated for appointment Further Public Accountants and/or
 Akuntan Publik lebih lanjut, serta untuk menetapkan honorarium               Public Accounting Firms, as well as to determine the honorarium of
 Akuntan Publik dan/atau Kantor Akuntan Publik tersebut, dan                  the said Public Accountants and/or Public Accounting Firms, and to
 menetapkan syarat-syarat sehubungan dengan penunjukan dan                    determine the conditions relating to the appointment and dismissal of
 pemberhentian Akuntan Publik dan/atau Kantor Akuntan Publik                  the said Public Accountants and/or Public Accounting Firms, as well
 tersebut, serta penunjukkan Akuntan Publik pengganti dalam hal               as the appointment of a replacement Public Accountant. in the event
 terdapat penggantian Akuntan Publik yang bersangkutan.                       that there is a replacement of the Public Accountant concerned.



134                      Ikhtisar Utama                   Laporan Manajemen                 Profil Perusahaan            Analisa & Pembahasan Manajemen
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Laporan Tahunan 2024



  Hasil dari Pemungutan Suara RUPST | Outcome of AGMS Voting
  Agenda                             Suara Setuju                          Suara Tidak Setuju                  Abstain
  Agenda                             Approve Votes                         Disapproving Votes                  Abstain
  Ketiga | Third                     5.880.755.757 suara | votes           4.880.783 suara | votes             160.071.500 suara | votes


  6.040.827.257 suara, atau sebesar 99,92%, atau lebih dari 1/2            6,045,708,040 votes, or 100%, or more than 1/2 part of the total
  bagian dari jumlah seluruh suara yang dikeluarkan secara sah dalam       number of votes legally cast in the Meeting.
  Rapat
  Realisasi | Realization
  Telah Direalisasikan | Has been realized




   Mata Acara Keempat | Fourth Agenda
  Hasil Keputusan RUPST | AGMS Resolution
  a. Menetapkan remunerasi berikut fasilitas dan tunjangan lainnya         a. Determining the remuneration along with other facilities and
     bagi anggota Dewan Komisaris Perseroan secara keseluruhan                 allowances for members of the Company's Board of
     untuk tahun buku 2024, maksimum sebesar sama dengan tahun                 Commissioners as a whole for the fiscal year 2024, with a
     buku 2023, atau apabila ada kenaikan maka jumlah kenaikannya              maximum amount equal to that of the fiscal year 2023, or if there
     tidak melebihi 10 % (sepuluh persen) dari tahun buku 2023, dan            is an increase, the increase shall not exceed 10% (ten percent) of
     memberikan wewenang kepada Komisaris Utama untuk                          the fiscal year 2023, and granting authority to the President
     menetapkan alokasinya;                                                    Commissioner to determine the allocation;
  b. Memberikan wewenang kepada Dewan Komisaris Perseroan                  b. Granting authority to the Company's Board of Commissioners to
     untuk menetapkan remunerasi berikut fasilitas dan tunjangan               determine the remuneration along with other facilities and
     lainnya bagi anggota Direksi Perseroan.                                   allowances for members of the Company's Board of Directors.




  Hasil dari Pemungutan Suara RUPST | Outcome of AGMS Voting

  Agenda                             Suara Setuju                          Suara Tidak Setuju                  Abstain
  Agenda                             Approve Votes                         Disapproving Votes                  Abstain
  Keempat | Fourth                   5.880.745.757 suara | votes           4.890.783 suara | votes             160.071.500 suara | votes


  6.040.817.257 suara, atau sebesar 99,92%, atau lebih dari 1/2            6,040,817,257 votes, or 99,92%, or more than 1/2 part of the total
  bagian dari jumlah seluruh suara yang dikeluarkan secara sah dalam       number of votes legally cast in the Meeting.
  Rapat.
  Realisasi | Realization
  Telah Direalisasikan | Has been realized




           Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan          Referensi                      Laporan Keuangan            135
           Corporate Governance          Corporate Social Responsibility        References                     Financial Statements           5
Page 144
                                                                                                                        2024 Annual Report




  Mata Acara Kelima | Fifth Agenda
Hasil Keputusan RUPST | AGMS Resolution

 a. Menerima pengunduran diri Tuan TIKMAN UTOMO selaku Direktur a. Accepting the resignation of Mr. TIKMAN UTOMO as the
      Perseroan dan Nyonya ENDANG FIFI SUSANTO selaku Komisaris                 Company's Director and Mrs. ENDANG FIFI SUSANTO as the
      Perseroan, dengan ucapan terima kasih atas jasa dan kinerjanya            Company's Commissioner, with gratitude for their services and
      dalam Perseroan;                                                          contributions to the Company;
 b. Mengangkat Tuan NICO GUNAWAN sebagai Direktur, dan Tuan b. Appointing Mr. NICO GUNAWAN as Director, and Mr. ENTARIO
      ENTARIO WIDJAJA SUSANTO sebagai Komisaris, terhitung sejak                WIDJAJA SUSANTO as Commissioner, effective from the close of
      ditutupnya Rapat ini;                                                     this Meeting;
 c. Menetapkan susunan Direksi dan Dewan Komisaris Perseroan c. Establishing the composition of the Company's Board of Directors
      terhitung sejak ditutupnya Rapat ini sampai dengan ditutupnya             and Board of Commissioners effective from the close of this Meeting
      Rapat Umum Pemegang Saham Tahunan Perseroan pada tahun                    until the close of the Company's Annual General Meeting of
      2027, adalah sebagai berikut :                                            Shareholders in 2027, as follows:
      DIREKSI :                                                                 BOARD OF DIRECTORS:
      Direktur Utama             : Tuan IBNU SUSANTO;                           President Director             : Mr. IBNU SUSANTO
      Wakil Direktur Utama       : Tuan TEDJA SUKMANA HUDIANTO;                 Vice President Director        : Mr. TEDJA SUKMANA HUDIANTO
      Direktur                   : Tuan SOEDIARTO SOERJOPRAHONO;                Director                       : Mr. SOEDIARTO SOERJOPRAHONO
      Direktur                   : Tuan THE, HANNY PURNOMO;                     Director                       : Mr. THE HANNY PURNOMO
      Direktur                   : Tuan NICO GUNAWAN;                           Director                       : Mr. NICO GUNAWAN
      DEWAN KOMISARIS:                                                          BOARD OF COMMISSIONERS:
      Komisaris Utama                                                           President Commissioner
      (Komisaris Independen) : Tuan MAKMUR WIDJAJA;                             (Independent Commissioner): Mr. MAKMUR WIDJAJA
      Komisaris                  : Tuan ENTARIO WIDJAJA SUSANTO;                Commissioner                   : Mr. ENTARIO WIDJAJA SUSANTO
      Komisaris Independen : Tuan BING HARTONO POERNOMOSIDI;                    Independent Commissioner       : Mr. BING HARTONO POERNOMOSIDI
      Komisaris Independen : Nyonya WELLY TANTONO;                              Independent Commissioner : Mrs. WELLY TANTONO
 d. Memberikan wewenang dan kuasa kepada Direksi Perseroan d. Granting authority and power to the Board of Directors of the
      dan/atau Tuan IBNU SUSANTO, baik bersama-sama maupun                      Company and/or Mr. IBNU SUSANTO, both collectively and
      sendiri-sendiri, dengan hak substitusi, untuk menuangkan/                 individually, with the right of substitution, to express/declare the
      menyatakan keputusan mengenai susunan anggota Direksi dan                 decision regarding the composition of the members of the Board of
      Dewan Komisaris Perseroan tersebut dalam akta yang dibuat                 Directors and the Board of Commissioners of the Company in a deed
      dihadapan Notaris, dan untuk selanjutnya memberitahukannya                made before a Notary, and to subsequently notify the competent
      pada pihak yang berwenang, serta melakukan semua dan setiap               authorities, and carry out all and any necessary actions in
      tindakan yang diperlukan sehubungan dengan keputusan tersebut             connection with the decision in accordance with the applicable laws
      sesuai dengan peraturan perundangan-undangan yang berlaku.                and regulations.

Hasil dari Pemungutan Suara RUPST | Outcome of AGMS Voting

 Agenda                                   Suara Setuju                        Suara Tidak Setuju                    Abstain
 Agenda                                   Approve Votes                       Disapproving Votes                    Abstain
 Kelima | Fifth                           6.044.702.640 suara | votes         0 suara | votes                       1.005.400 suara | votes


 6.045.708.040 suara, atau sebesar 100%, atau lebih dari 1/2 bagian           6,045,708,040 votes, or 100%, or more than 1/2 part of the total
 dari jumlah seluruh suara yang dikeluarkan secara sah dalam Rapat.           number of votes legally cast in the Meeting.


 Realisasi | Realization
 Telah Direalisasikan | Has been realized




136                      Ikhtisar Utama                   Laporan Manajemen                 Profil Perusahaan            Analisa & Pembahasan Manajemen
  5                        Highlights                     Management Report                 Company Profile              Management Discussion & Analysis
Page 145
Laporan Tahunan 2024




   Mata Acara Keenam | Sixth Agenda
  Hasil Keputusan RUPST | AGMS Resolution

  Menerima baik laporan realisasi penggunaan dana hasil Penawaran          Received reports on the realization of the use of proceeds from the
  Umum Obligasi Berkelanjutan II Spindo Tahap II Tahun 2023 dan            Public Offering of Spindo Phase II Bonds II 2023 and Spindo's Sukuk
  Sukuk Ijarah Berkelanjutan II Spindo Tahap II Tahun 2023, yang telah     Ijarah II Phase II Year 2023, which have been fully used.
  digunakan seluruhnya.


  Hasil dari Pemungutan Suara RUPST | Outcome of AGMS Voting

  Agenda                             Suara Setuju                          Suara Tidak Setuju                   Abstain
  Agenda                             Approve Votes                         Disapproving Votes                   Abstain
  Keenam | Sixth                     6.044.702.640 suara | votes           0 suara | votes                      1.005.400 suara | votes


  6.045.708.040 suara, atau sebesar 100%, atau lebih dari 1/2 bagian       6,045,708,040 votes, or 100%, or more than 1/2 part of the total
  dari jumlah seluruh suara yang dikeluarkan secara sah dalam Rapat.       number of votes legally cast in the Meeting.


  Realisasi | Realization
  Telah Direalisasikan | Has been realized




   Mata Acara Ketujuh | Seventh Agenda
  Hasil Keputusan RUPST | AGMS Resolution

  a. Menyetujui perubahan Pasal 3 Anggaran Dasar Perseroan                 a. Approving the amendment of Article 3 of the Company's Articles
     tentang Maksud dan Tujuan serta Kegiatan Usaha Perseroan                  of Association concerning the Purpose and Objectives as well as
     terkait dengan perumusan dan penyusunan kembali kegiatan                  the Business Activities of the Company in relation to the
     usaha penunjang sesuai dengan Peraturan Badan Pengawas                    reformulation and reorganization of supporting business
     Pasar Modal dan Lembaga Keuangan Nomor IX.J.1 tentang                     activities in accordance with the Regulation of the Capital Market
     Pokok-Pokok Anggaran Dasar Perseroan yang melakukan                       and Financial Institution Supervisory Agency Number IX.J.1 on
     Penawaran Umum Efek Bersifat Ekuitas dan Perusahaan Publik,               the Principles of the Articles of Association of Companies
     dengan menggunakan Klasifikasi Baku Lapangan Usaha                         Conducting Public Offerings of Equity Securities and Public
     Indonesia tahun 2020 (dua ribu dua puluh) berikut perubahan               Companies, using the 2020 Indonesian Standard Industrial
     atau pembaharuannya atau bunyi lain sebagaimana ditentukan                Classification (KBLI 2020) including any amendments or updates
     instansi yang berwenang, sebagaimana telah disampaikan dalam              thereto or other wording as determined by the competent
     Rapat.                                                                    authorities, as presented at the Meeting.
  b. Memberikan wewenang dan kuasa kepada Direksi Perseroan                b. Granting authority and power to the Company's Board of
     dan/atau Tuan IBNU SUSANTO, baik bersama-sama maupun                      Directors and/or Mr. Ibnu Susanto, either jointly or individually,
     sendiri-sendiri, dengan hak substitusi, untuk melakukan segala            with the right of substitution, to take all necessary actions in
     dan setiap tindakan yang diperlukan sehubungan keputusan                  relation to the above decision, including but not limited to
     tersebut, termasuk tetapi tidak terbatas untuk menyatakan/                declaring/recording the decision in deeds made before a Notary,
     menuangkan keputusan tersebut dalam akta-akta yang dibuat                 to amend, adjust, and/or reorganize the provisions of Article 3 of
     dihadapan Notaris, untuk merubah, menyesuaikan dan/atau                   the Company's Articles of Association in the future in accordance
     menyusun kembali ketentuan Pasal 3 Anggaran Dasar Perseroan               with the 2020 Indonesian Standard Industrial Classification (KBLI
     di kemudian hari sesuai dengan Klasifikasi Baku Lapangan Usaha             2020) including any amendments or updates thereto (if any) and




           Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan           Referensi                     Laporan Keuangan            137
           Corporate Governance          Corporate Social Responsibility         References                    Financial Statements           5
Page 146
                                                                                                                                  2024 Annual Report




      Indonesia tahun 2020 (dua ribu dua puluh) berikut perubahan                            other wording as determined by the competent authorities, as
      atau pembaharuannya (bila ada) dan bunyi lain sebagaimana                              required by and in accordance with applicable laws and
      ditentukan instansi yang berwenang, sebagaimana yang                                   regulations, and to subsequently submit applications for approval
      disyaratkan oleh serta sesuai dengan ketentuan perundang-                              and/or notifications of this Meeting's decision and/or amendments
      undangan yang berlaku, yang selanjutnya untuk mengajukan                               to the Company's Articles of Association in this Meeting's
      p e r m o h o n a n p e r s e t u j u a n d a n /a t a u m e n y a m p a i k a n       decision to the competent authorities, as well as to take all
      pemberitahuan atas keputusan Rapat ini dan/atau perubahan                              necessary actions, in accordance with applicable laws and
      Anggaran Dasar Perseroan dalam keputusan Rapat ini kepada                              regulations.
      instansi yang berwenang, serta melakukan semua dan setiap
      tindakan yang diperlukan, sesuai dengan peraturan perundang-
      undangan yang berlaku.


Hasil dari Pemungutan Suara RUPST | Outcome of AGMS Voting

 Agenda                                      Suara Setuju                                Suara Tidak Setuju                  Abstain
 Agenda                                      Approve Votes                               Disapproving Votes                  Abstain
 Keenam | Sixth                              6.000.223.760 suara | votes                 44.478.880 suara | votes            1.005.400 suara | votes


 6.001.229.160 suara, atau sebesar 99,26 %, atau lebih dari 2/3                          6,001,229,160 votes, or 99,26%, or more than 2/3 part of the total
 bagian dari jumlah seluruh suara yang dikeluarkan secara sah dalam                      number of votes legally cast in the Meeting.
 Rapat.
 Realisasi | Realization
 Telah Direalisasikan | Has been realized




  Mata Acara Kedelapan | Eighth Agenda
Hasil Keputusan RUPST | AGMS Resolution

 Menyetujui untuk menjaminkan aset Perseroan, dengan jumlah lebih                        Approving to pledge the Company's assets, amounting to more than
 dari 1/2 bagian atau seluruh harta kekayaan Perseroan dalam rangka                      1/2 or the entirety of the Company's assets, as collateral for loan
 fasilitas pinjaman yang akan diperoleh perseroan dari Bank dan/atau                     facilities that the Company will obtain from Banks and/or other
 Lembaga Keuangan lainnya termasuk untuk penerbitan Obligasi                             Financial Institutions, including for the issuance of Bonds and/or
 dan/atau Sukuk di Pasar Modal.                                                          Sukuk in the Capital Market.




Hasil dari Pemungutan Suara RUPST | Outcome of AGMS Voting

 Agenda                                      Suara Setuju                                Suara Tidak Setuju                  Abstain
 Agenda                                      Approve Votes                               Disapproving Votes                  Abstain
 Keenam | Sixth                              5.995.330.477 suara | votes                 49.372.163 suara | votes            1.005.400 suara | votes


 5.996.335.877 suara, atau sebesar 99,18%, atau lebih dari 3/4                           5,996,335,877 votes, or 99,18%, or more than 1/2 part of the total
 bagian dari jumlah seluruh suara yang dikeluarkan secara sah dalam                      number of votes legally cast in the Meeting.
 Rapat.



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       RUPST 2024 telah dilaksanakan pada tanggal 28 Juni 2024 di Auditorium Gedung Baja, Lantai 9C, Jalan Pangeran Jayakarta nomor 55, Jakarta Pusat 10730.
         The 2024 AGMS was held on June 28, 2024, at the Auditorium of the Gedung Baja, Lantai 9C, Jalan Pangeran Jayakarta nomor 55, Jakarta Pusat 10730.




       Tata Kelola Perusahaan            Tanggung Jawab Sosial Perusahaan                  Referensi                          Laporan Keuangan                 139
       Corporate Governance                Corporate Social Responsibility                References                         Financial Statements                5
Page 148
                                                                                                                  2024 Annual Report




Dewan Komisaris
Board of Commissioners

 Dewan Komisaris merupakan organ Perseroan yang bertugas                The Board of Commissioners is the Company’s organ serves to
 menjalankan fungsi pengawasan terhadap pengelolaan Perseroan           perform supervisory function over the management of the Company
 yang dijalankan oleh Direksi. Komposisi dan jumlah anggota Dewan       by the Board of Directors. The composition and the number of
 Komisaris Perseroan ditetapkan oleh RUPS dengan memperhatikan          members of the Board of Commissioners are stipulated in the GMS by
 visi, misi, dan rencana strategis Perseroan.                           considering the vision, mission and strategic plan of the Company.


 Dewan Komisaris wajib melaksanakan pengawasan dan                      The Board of Commissioners must carry out supervision and provides
 memberikan saran terkait pelaksanaan tugas dan tanggung jawab          advice in relation to the execution of duties and responsibilities of the
 Direksi serta hal-hal yang ditetapkan di Anggaran Dasar maupun         Board of Directors as well as matters that were stipulated in the
 perundangundangan. Dalam menjalankan tugas dan tanggung                Article of Association and regulation. In performing its duties and
 jawabnya, Dewan Komisaris wajib bertindak secara independen.           responsibilities, the Board of Commissioners is obliged to act
                                                                        independently.


Dasar Hukum | Legal Basis
 Dasar hukum yang menjadi acuan penunjukan Dewan Komisaris              Legal basis that are applied as references in the appointment of
 SPINDO antara lain:                                                    SPINDO’s Board of Commissioners, namely:
 1. Undang-Undang Republik Indonesia tentang Perseroan                  1. Law of the Republic of Indonesia concerning Limited Liability
      Terbatas.                                                             Companies.
 2. Anggaran Dasar Perseroan.                                           2. The Article of Association.
 3. Peraturan Otoritas Jasa Keuangan No. 33 Tahun 2014 tentang          3. Regulation of Financial Services Authority No. 33 of 2014 on the
      Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.            Board of Director and Commissioners of Issuer or Public
 4. Surat Edaran Otoritas Jasa Keuangan No. 32 Tahun 2015 tentang           Company.
      Pedoman Tata Kelola Perusahaan.                                   4. Circular Letter of Financial Services Authority No. 32 of 2015 on
                                                                            Corporate Governance Guidelines for Listed Companies;



Kriteria & Proses Pengangkatan Anggota Dewan Komisaris |
Criteria & Appointment Process of the Member of the Board of Commissioners
 Perseroan memiliki kriteria persyaratan calon anggota Dewan            The Company has set up the required criteria for the candidate
 Komisaris sebagaimana tercantum dalam Anggaran Dasar                   members of the Board of Commissioners as stated in the Company’s
 Perseroan. Anggota Dewan Komisaris Perseroan adalah orang              Article of Association. A member of the Board of Commissioners is an
 perseorangan yang memenuhi persyaratan sebagai berikut:                individual who meets the following requirements:
                                                                        1. Having good character, morals, and integrity.
 1. Mempunyai akhlak, moral, dan integritas yang baik.                  2. Competent in carrying out legal actions.
 2. Cakap melakukan perbuatan hukum.                                    3. Within the last 5 (five) years prior to the appointment and while in
 3. Dalam 5 tahun sebelum pengangkatan dan selama menjabat:                 office:
      a. Tidak pernah dinyatakan pailit.                                   a. He/She has never been declared bankrupt.
      b. Tidak pernah menjadi anggota Direksi dan/atau anggota             b. He/She has never been convicted guilty for causing a
          Dewan Komisaris yang dinyatakan bersalah menyebabkan                 Company’s bankruptcy while serving as a member of the
          suatu perusahaan dinyatakan pailit.                                  Board of Directors and/or Commissioners.
      c. Tidak pernah dihukum karena melakukan tindak pidana yang          c. He/She has never been convicted of any criminal offense that
          merugikan keuangan negara dan/atau yang berkaitan dengan             inflicts financial loss to the State and/or to those related to the
          sektor keuangan.                                                     financial sector.
      d. Tidak pernah menjadi anggota Direksi dan/atau anggota             d. He/She has never served as a member of the Board of
          Dewan Komisaris yang selama menjabat:                                Directors and/or Commissioners in which during his/her office
                                                                               terms:

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         •      Pernah tidak menyelenggarakan RUPST.                                       •     Has once or more failed to hold AGMS.
         •      Pertanggungjawabannya sebagai anggota Direksi                              •     Has his/her accountability report as a member of the
                dan/atau anggota Dewan Komisaris pernah tidak diterima                           Board of Directors and or Commissioners been rejected
                oleh RUPS atau pernah tidak memberikan pertanggung-                              by GMS or has once or more failed to provide one as a
                jawaban sebagai anggota Direksi dan/atau anggota                                 member of the Board of Directors and/or Commissioners
                Dewan Komisaris kepada RUPS.                                                     to GMS.
         •      Pernah menyebabkan perusahaan yang memperoleh izin,                        •     Has caused a Company that obtained license, approval or
                persetujuan, atau pendaftaran dari OJK tidak memenuhi                            registration from OJK fails to complete its obligation of
                kewajiban menyampaikan laporan tahunan dan/atau                                  submitting an annual report and/or financial statements to
                laporan keuangan kepada OJK.                                                     OJK.
  4. Memiliki komitmen untuk mematuhi peraturan perundang-                          4. Having a strong commitment to comply with the laws and
     undangan.                                                                         regulations.
  5. Memiliki pengetahuan dan/atau keahlian di bidang yang                          5. Having knowledge and/or expertise in the field that is needed by
     dibutuhkan Perseroan.                                                             the Company.
  6. Memenuhi persyaratan lainnya sebagaimana ditentukan dalam                      6. Meet other requirements as stipulated in the Law of Limited
     Undang-Undang Perseroan Terbatas, Peraturan Pasar Modal                           Liability Company, Capital Market Regulation and other
     dan Peraturan Perundang-Undangan lainnya yang berlaku.                            applicable laws and regulations.
  7. Dewan Komisaris wajib mengungkapkan seluruh benturan                           7. The Board of Commissioners must disclose periodically all conflict
     kepentingan yang dilakukan secara periodik dan pernyataan                         of interest and a statement concerning the conflict of interest to be
     mengenai benturan kepentingan tersebut diungkapkan dalam                          disclosed in the annual report.
     laporan tahunan.

  Jumlah & Komposisi Dewan Komisaris | Number & Composition of Board of Commissioners (BoC)
  Pada tahun 2024, Dewan Komisaris Perseroan berjumlah 4 (empat)                    In 2024, Members of the Board of Commissioners of the Company
  orang dengan 3 (tiga) di antaranya merupakan Komisaris Independen                 are 4 (four) persons, of whom 3 (three) among others is Independent
  sesuai dengan ketentuan yang berlaku, sebagaimana yang diatur                     Commissioner that complies with applicable provisions, as regulated
  Piagam Dewan Komisaris. Berikut jumlah dan komposisi Dewan                        by the Board of Commissioners’ Charter. The following are the
  Komisaris Perseroan :                                                             number and composition of the Company’s Board of Commissioners :

         Nama                                  Jabatan                                                Dasar Pengangkatan                         Domisili
         Name                                  Position                                               Basis of Appointment                       Domicile

  Makmur Widjaja               Komisaris Utama | Komisaris Independen            Akta Keputusan Rapat Umum Pemegang Saham Tahunan                 Jakarta
                                 President Commissioner | Independent                           no. 41 tanggal 28 Juni 2024
                                            Commissioner                           Deed of Resolutions the Annual General Meeting of
                                                                                       Shareholders no. 41 dated June 28th, 2024
  Endang Fifi Susanto *                        Komisaris                          Akta Keputusan Rapat Umum Pemegang Saham Tahunan                 Jakarta
                                            Commissioner                                       no. 373 tanggal 30 Juni 2023
                                                                                   Deed of Resolutions the Annual General Meeting of
                                                                                      Shareholders no. 373 dated June 30th, 2023
  Bing H. Poernomosidi                  Komisaris Independen                     Akta Keputusan Rapat Umum Pemegang Saham Tahunan               Surabaya
                                      Independent Commissioner                                  no. 41 tanggal 28 Juni 2024
                                                                                   Deed of Resolutions the Annual General Meeting of
                                                                                       Shareholders no. 41 dated June 28th, 2024
  Welly Tantono                         Komisaris Independen                     Akta Keputusan Rapat Umum Pemegang Saham Tahunan               Singapura
                                      Independent Commissioner                                  no. 41 tanggal 28 Juni 2024
                                                                                   Deed of Resolutions the Annual General Meeting of
                                                                                       Shareholders no. 41 dated June 28th, 2024

             Tata Kelola Perusahaan          Tanggung Jawab Sosial Perusahaan             Referensi                       Laporan Keuangan            141
             Corporate Governance              Corporate Social Responsibility           References                      Financial Statements           5
Page 150
                                                                                                                         2024 Annual Report



         Nama                              Jabatan                                          Dasar Pengangkatan                                     Domisili
         Name                              Position                                         Basis of Appointment                                   Domicile

 Entario Widjaja Susanto **               Komisaris                         Akta Keputusan Rapat Umum Pemegang Saham Tahunan                         Jakarta
                                         Commissioner                                    no. 41 tanggal 28 Juni 2024
                                                                              Deed of Resolutions the Annual General Meeting of
                                                                                  Shareholders no. 41 dated June 28th, 2024


 *) Sampai 28 Juni 2024 | Until 28 June 2024 **) Sejak 28 Juni 2024 | Since 28 June 2024


Masa Jabatan Anggota Dewan Komisaris | Term of Office of Members of the Board of Commissioners
 a. Masa jabatan anggota Dewan Komisaris untuk 1 periode paling                a. The term of office of members of the Board of Commissioners for
      lama adalah 5 (lima) tahun terhitung sejak tanggal yang                     1 (one) period is a maximum of 5 (five) years effective from the
      ditetapkan oleh RUPS yang mengangkatnya, namun demikian                     date of appointment by GMS, however by not reducing the rights
      dengan tidak mengurangi hak RUPS tersebut untuk                             of GMS to dismiss the Board of Commissioners at any time before
      memberhentikan Dewan Komisaris tersebut sewaktu-waktu                       his term ends in accordance with provisions of the Company’s
      sebelum masa jabatannya berakhir sesuai dengan ketentuan                    Articles of Association.
      Anggaran Dasar Perusahaan.                                               b. After the term of office ends, the Board of Commissioners can be
 b. Setelah masa jabatannya berakhir, Dewan Komisaris dapat                       reappointed by the GMS for 1 (one) term of office unless
      diangkat kembali oleh RUPS untuk 1 kali masa jabatan kecuali                otherwise stipulated in the GMS.
      ditetapkan lain dalam RUPS.                                              c. The term of office of the Board of Commissioners ends if:
 c. Jabatan Dewan Komisaris berakhir apabila:                                     1. Term of office ends;
      1. Masa jabatannya berakhir.                                                2. Resign in accordance with the provisions of the Company’s
      2. Mengundurkan diri sesuai dengan ketentuan Anggaran Dasar                     Articles of Association;
         Perusahaan.                                                              3. No longer meets the requirements of the applicable law;
      3. Tidak lagi memenuhi persyaratan perundangan yang berlaku.                4. Decease during the term of office;
      4. Meninggal dunia dalam masa jabatannya.                                   5. Dismissed based on GMS Resolution;
      5. Diberhentikan berdasarkan Keputusan RUPS.                                6. Involved in financial crime;
      6. Terlibat dalam tindakan kejahatan keuangan.                              7. Annulled due to the law when it is revealed that member of the
      7. Batal karena hukum apabila diketahui anggota Dewan                           Board of Commissioners did not comply with the
         Komisaris tersebut tidak memenuhi persyaratan                                requirements as referred by Law No. 40 of 2007 Article 110
         sebagaimana dimaksud dalam UU No. 40 Tahun 2007 Pasal                        and the Board of Commissioners or other members of the
         110 dan Dewan Komisaris atau anggota Direksi lainnya harus                   Board of Directors must announce the annulment of the
         mengumumkan batalnya pengangkatan tersebut dalam surat                       appointment in the newspaper and inform the Minister to be
         kabar serta memberitahukannya kepada Menteri untuk                           noted in the Company register at the latest 7 (seven) days
         dicatat dalam daftar Perusahaan selambat-lambatnya 7                         from the date of revelation.
         (tujuh) hari terhitung sejak diketahuinya.                            d. Members of the Board of Commissioners may be dismissed at any
 d. Anggota Dewan Komisaris dapat diberhentikan sewaktu-waktu                     time based on the resolution of the GMS by stating the reason, if a
      berdasarkan keputusan RUPS dengan menyebutkan alasannya,                    member of the Board of Commissioners:
      apabila anggota Dewan Komisaris tersebut:                                   1. Fails to carry out their duties properly;
      1. Tidak dapat melaksanakan tugasnya dengan baik.                           2. Does not implement the provisions of the laws and
      2. Tidak melaksanakan ketentuan peraturan perundang-                            regulations and/or of the Company’s Articles of Association;
         undangan dan/atau ketentuan Anggaran Dasar Perusahaan.                   3. Involved in financial crime;
      3. Terlibat dalam tindakan kejahatan keuangan.                              4. Declared guilty by court decision with permanent legal force;
      4. Dinyatakan bersalah dengan putusan pengadilan yang                       5. Resign according to the Articles of Association of the
         mempunyai kekuatan hukum yang tetap.                                         Company;
      5. Mengundurkan diri sesuai Anggaran Dasar Perusahaan.                      6. Appointment of members of the Board of Commissioners fails
      6. Pengangkatan anggota Dewan Komisaris tidak memenuhi                          to meet the requirements as stipulated in Law No. 40 of 2007
         persyaratan sebagaimana dimaksud dalam UU No. 40 Tahun                       Article 110.
         2007 Pasal 110.

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  Piagam Dewan Komisaris | Board of Commissioners’ Charter
  Piagam Komisaris tercantum dalam Board Manual yang dikeluarkan           The Board of Commissioners’ Charter stated in the Board Manual
  pada tanggal 9 Januari 2018. Piagam ini menetapkan dasar hukum;          issued on 9 January 2018. The charter sets out the legal basis; duties,
  tugas, tanggung jawab dan wewenang; aturan bisnis; jam kerja; dan        responsibilities and authority; rules of business; working hours; and
  pelaporan serta pertanggungjawaban Dewan Komisaris. Piagam               reporting and accountability of the Board of Commissioners. The
  dievaluasi secara berkala dan diperbarui jika diperlukan. Piagam         BoC’ Charter is regularly evaluated and updated if necessary. The
  Dewan Komisaris tersedia di situs Perseroan :                            BoC’ Charter is available on the Company’s website at :
  https://www.spindo.com/board-manual/                                     https://www.spindo.com/board-manual/


  Tugas & Tanggung Jawab Dewan Komisaris |
  Duties & Responsibilities of The Board of Commissioners (BoC)
  Sesuai dengan Anggaran Dasar Perseroan dan hukum serta                   In accordance with the Company’s Articles of Association and the
  peraturan yang berlaku, Dewan Komisaris bertanggung jawab                prevailing laws and regulations, the Board of Commissioners (BoC) is
  kepada RUPS dan mengawasi pengelolaan Perseroan oleh Direksi.            responsible to the GMS and oversees the management of the
  Untuk memastikan efektivitas praktik GCG yang diterapkan                 Company by the Board of Directors (BoD). To ensure the
  Perusahaan sebagaimana tercantum dalam Panduan untuk Dewan               effectiveness of GCG practices implemented by the Company as
  Komisaris, tugas dan tanggung jawab Dewan Komisaris adalah               stated in the Board of Commissioners Manual, their duties and
  sebagai berikut:                                                         responsibilities are as follows:


  1. Pengawasan terhadap kebijakan pengurusan, jalannya                    1. Overseeing the management policy, the general management of
     pengurusan pada umumnya, baik mengenai Perusahaan maupun                 the Company and the Company's business, and advises the
     usaha Perusahaan, dan memberi nasihat kepada Direksi;                    Board of Directors ;
  2. Mengawasi pelaksanaan tugas komite-komite yang dibentuk               2. To oversee the execution of the duties of committees established
     oleh Dewan Komisaris;                                                    by the Board of Commissioners;
  3. Mengawasi pelaksanaan manajemen risiko;                               3. To oversee the implementation of risk management;
  4. Mengawasi efektivitas penerapan tata kelola perusahaan;               4. To oversee the effectiveness of the implementation of corporate
  5. Mengawasi kepatuhan Perusahaan terhadap peraturan                        governance;
     perundang-undangan yang berlaku;                                      5. To oversee the compliance of the Company to the existing laws
  6. Memantau efektivitas praktek GCG antara lain dengan                      and regulations;
     mengadakan pertemuan berkala antara Dewan Komisaris                   6. To monitor the effectiveness of GCG practices, among others, by
     dengan Direksi untuk membahas implementasi GCG di                        holding regular meetings between Board of Commissioners and
     Perusahaan;                                                              Board of Directors to discuss the implementation of GCG in the
  7. Memberikan laporan tentang tugas pengawasan yang telah                   Company;
     dilakukan selama tahun buku yang baru lampau kepada RUPS;             7. To provide a report on the supervisory duties that have been
  8. Menyusun Pedoman dan Tata Tertib Kerja Dewan Komisaris dan               carried out during the past financial year to the GMS;
     mengungkapkan dalam Laporan Tahunan bahwa Dewan                       8. To arrange the Board of Commissioners' Working Guidelines and
     Komisaris telah memiliki pedoman;                                        Rules of Work and disclose in the Annual Report that the Board of
                                                                              Commissioners has its own guidelines;


  Secara prinsip dasar tugas dan kewajiban komisaris adalah                In principle, the duties and obligations of the commissioners oversee
  melakukan pengawasan pengurusan Perseroan yang dilakukan oleh            the management of the Company carried out by the Board of
  Direksi, serta memberikan nasihat kepada Direksi termasuk                Directors, and provide advice to the Board of Directors, including the
  pelaksanaan Rencana–Rencana Perusahaan serta Ketentuan                   implementation of the Company's Plans and the Articles of
  Anggaran Dasar dan Rapat Umum Pemegang Saham (RUPS), dan                 Association and the General Meeting of Shareholders (AGMS), and
  peraturan perundang-undangan.                                            the laws and regulations.




          Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan          Referensi                      Laporan Keuangan             143
          Corporate Governance           Corporate Social Responsibility        References                     Financial Statements            5
Page 152
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Kepemilikan Saham Dewan Komisaris | Share Ownership by the Board of Commissioners

                                                                                                Kepemilikan Saham | Share Ownership

            Nama                                      Jabatan                        Pribadi pada Perusahaan           Keluarga pada Perusahaan
            Name                                      Position                         Personal to Company                 Family to Company

 Makmur Widjaja                          Komisaris Utama & Komisaris Independen                    -                                     -
                                         President Commissioner & Independent
                                                     Commissioner


 Endang Fifi Susanto *                                  Komisaris                                   -                                     -
                                                     Commissioner


 Bing Hartono Poernomosidi                       Komisaris Independen                              -                                     -
                                               Independent Commissioner


 Welly Tantono                                   Komisaris Independen                              -                                     -
                                               Independent Commissioner


 Entario Widjaja Susanto **                            Komisaris                                   -                                     -
                                                     Commissioner

 *) Sampai 28 Juni 2024 | Until 28 June 2024 **) Sejak 28 Juni 2024 | Since 28 June 2024

 Setiap adanya perubahan portofolio kepemilikan saham Perusahaan,            Any changes in the portfolio of the ownership of the Company’s
 maka Dewan Komisaris wajib melaporkan kepada Sekretaris                     shares, the Board of Commissioners must report to the Corporate
 Perusahaan melalui penyerahan Daftar Khusus Kepemilikan Saham               Secretary through Special List of Share Ownership for then to be
 untuk selanjutnya disampaikan kepada Otoritas Pasar Modal                   reported to the Capital Market Authority at the latest 3 (three) days
 selambat-lambatnya 3 (tiga) hari sejak terjadinya transaksi.                since the transaction occurred.


Penilaian Kinerja Dewan Komisaris | Performance Evaluation of the Board of Commissioners
 Prosedur                                                                    Procedure
 Kinerja Dewan Komisaris dan anggota Dewan Komisaris dievaluasi              The Board of Commissioners’ performance and its members are
 setiap tahun oleh Pemegang Saham dalam Rapat Umum Pemegang                  evaluated every year by Shareholders in General Meeting of
 Saham. Secara umum, kinerja Dewan Komisaris ditentukan                      Shareholders. In general, the Board of Commissioners’ performance
 berdasarkan tugas kewajiban yang tercantum dalam peraturan                  is determined based on the duties of obligations stated in the
 perundang-undangan yang berlaku dan Anggaran Dasar Perseroan                applicable laws and regulations and the Articles of
 maupun amanat Pemegang Saham. Kriteria evaluasi formal                      Association of the Company and the mandate of the Shareholders.
 disampaikan secara terbuka kepada Dewan Komisaris sejak                     Formal evaluation criteria are submitted openly to the Board of
 pengangkatannya.                                                            Commissioners since their appointment.


 Kriteria                                                                    Criteria
 Rapat Umum Pemegang Saham menetapkan kriteria kinerja Dewan                 The General Meeting of Shareholders establishes the performance
 Komisaris maupun individu anggota Dewan Komisaris. Kriteria                 criteria of the Board of Commissioners and individual members of the
 evaluasi kinerja individu Dewan Komisaris antara lain meliputi:             Board of Commissioners. Criteria for evaluating the individual
 1. Tingkat kehadirannya dalam Rapat Dewan Komisaris maupun                  performance of the Board of Commissioners include:
      rapat dengan komite-komite yang ada.                                   1. Level of attendance at the Board of Commissioners Meetings and
 2. Kontribusinya dalam proses pengawasan Perseroan.                              meetings with existing committees.
 3. Keterlibatannya dalam penugasan tertentu.                                2. Its contribution to the Company’s supervision process.
 4. Komitmennya dalam memajukan kepentingan Perusahaan.                      3. Its involvement in certain assignments.
                                                                             4. Its commitment in advancing the interests of the Company.


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 Penilaian Kinerja Komite di bawah Dewan Komisaris |
 Performance Evaluation of the Board of Commissioners’ Committees

  Dewan Komisaris telah melaksanakan evaluasi terhadap kinerja            The Board of Commissioners has evaluated the performance of the
  Komite Audit. Penilaian kinerja Komite Dewan Komisaris berdasarkan      Audit Committee. The performance evaluation of the Board of
  realisasi dan penyelesaian program kerja yang telah tersusun dalam      Commissioners’ Committees is based on the realization and
  RKA tahunan, saran, rekomendasi, dan masukan yang diberikan oleh        completion of work programs that have been prepared in the annual
  Komite Dewan Komisaris serta tingkat kehadiran rapat.                   RKA, based on the suggestions, recommendations, and input
                                                                          provided by the Board of Commissioners’ Committees and based on
                                                                          the meeting attendance rates.
  Pada tahun 2024, capaian anggota Komite Audit mencapai kriteria
  “Baik”. Detail penilaian terdapat pada setiap penjelasan masing-        In 2024, the members of the Audit Committee received “Good”
  masing Komite.                                                          criteria. Details of the evaluation can be found in every explanation of
                                                                          each Committee.




  Komisaris Independen | Independent Commissioner
  Sesuai dengan UU No. 40 Tahun 2007 tentang Perseroan Terbatas           According to the Law No. 40 of 2007 concerning Limited Liability
  dan POJK 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris            Company and Regulation of Financial Service Authority No.
  Emiten atau Perusahaan Publik mengatur bahwa Komisaris                  33/POJK.04/2014 concerning the Board of Directors and the Board of
  Independen yang telah menjadi kebutuhan bagi Perusahaan. Jumlah         Commissioners of a Public Listed Company or Issuer which regulate
  Komisaris Independen adalah paling sedikit 30% (tiga puluh persen)      that Independent Commissioner has become a necessity for
  dari anggota Dewan Komisaris, komposisi tersebut dapat berubah          Company. The number of Independent Commissioners must at least
  sesuai dengan ketentuan peraturan yang berlaku.                         30% of the total members of the Board of Commissioners. The
                                                                          composition may change according to the prevailing regulations.



  Kriteria Penentuan Komisaris Independen | Criteria for Independent Commissioner
  Kriteria Komisaris Independen telah sesuai dengan definisi POJK No.      Criteria for Independent Commissioners is consistent with the
  33/POJK.04/2014 tanggal 8 Desember 2014 tentang Direksi dan             definition stated in Article 21 of POJK No. 33/POJK.04/2014 dated
  Dewan Komisaris Emiten atau Perusahaan Publik Pasal 21, sebagai         December 8, 2014 concerning the Board of Directors and the Board
  berikut:                                                                of Commissioners of Issuers or Public Listed Companies Article 21, as
  1.   Bukan merupakan orang yang bekerja atau mempunyai                  follows:
       wewenang dan tanggung jawab untuk merencanakan,                    1.   Not an individual who works or has the authority and
       memimpin, mengendalikan, atau mengawasi kegiatan                        responsibility to plan, lead, control, or supervise the activities of
       Perusahaan tersebut dalam waktu 6 (enam) bulan terakhir,                the Company within the last 6 (six) months, except for
       kecuali untuk pengangkatan kembali sebagai Komisaris                    reappointment as Independent Commissioner of Issuer or Public
       Independen Perusahaan periode berikutnya;                               company for the next period;
  2.   Tidak mempunyai saham baik langsung maupun tidak langsung          2.   Does not own shares directly or indirectly in the Company;
       pada Perusahaan;                                                   3.   Has no affiliation with the other members of the Board of
  3.   Tidak memiliki hubungan afiliasi dengan Direktur dan/atau                Commissioners and or Board of Directors, or main Shareholders
       anggota Dewan Komisaris lainnya dan/atau pemegang saham                 of the Company;
       utama Perusahaan;                                                  4.   Has no direct or indirect business relationship related to the
  4.   Tidak mempunyai hubungan usaha kerja/profesional langsung               Company’s business activities.
       maupun tidak langsung yang berkaitan dengan kegiatan usaha
       Perusahaan.




             Tata Kelola Perusahaan   Tanggung Jawab Sosial Perusahaan           Referensi                       Laporan Keuangan              145
             Corporate Governance       Corporate Social Responsibility         References                      Financial Statements             5
Page 154
                                                                                                                     2024 Annual Report




Kriteria Penentuan Komisaris Independen | Criteria for Independent Commissioner
 Setiap Komisaris menyatakan independensinya dengan membuat                  Every Commissioner declares its independence by issuing a routine
 pernyataan secara berkala. Pernyataan independensi tersebut                 statement. The Declaration of Independence is available on the
 tersedia di situs web Perseroan: www.spindo.com/gcg. Komisaris              Company’s website: www.spindo.com/gcg. The appointed
 Independen Perseroan yang ditunjuk telah memenuhi kriteria                  Independent Commissioner has met the criteria of independence as
 independensi sebagaimana yang telah ditetapkan Pemerintah.                  specified by the Government.



Prinsip Dasar Tugas dan Kewajiban Komisaris | Basic Principles of Commissioners' Duties and Obligations
 Secara prinsip dasar tugas dan kewajiban komisaris adalah                   In principle, the duties and obligations of the commissioners oversee
 melakukan pengawasan pengurusan Perseroan yang dilakukan oleh               the management of the Company carried out by the Board of
 Direksi, serta memberikan nasihat kepada Direksi termasuk                   Directors, and provide advice to the Board of Directors, including the
 pelaksanaan Rencana–Rencana Perusahaan serta Ketentuan                      implementation of the Company's Plans and the Articles of
 Anggaran Dasar dan Rapat Umum Pemegang Saham (RUPS), dan                    Association and the General Meeting of Shareholders (AGMS), and
 peraturan perundang-undangan.                                               the laws and regulations.


Pernyataan Independensi Komisaris Independen |
Statement of Independence by Independent Commissioners
No.                                     Pernyataan Independensi                                       Makmur         Bing H                 Welly
                                       Statement of Independence                                      Widjaja     Poernomosidi             Tantono


 1.     Tidak memiliki hubungan afiliasi dengan Perseroan atau pemegang saham                              ü             ü                      ü
        utama/pengendali atau salah satu anggota Dewan Komisaris atau Direksi;
        Does not have any affiliation with the Company or its majority shareholders or
        any of the members of the Boards of Commissioners or Directors;


 2.     Tidak menjabat sebagai Direksi di Perusahaan yang terafiliasi dengan                               ü             ü                      ü
        Perusahaan.
        Not serving as a member of the Board of Directors in affiliated Company.


 3.     Tidak bekerja pada lembaga pemerintahan dalam kurun waktu tiga tahun                              ü             ü                      ü
        terakhir.
        Not working with government agencies in the last three years.


 4.     Tidak mempunyai keterkaitan finansial, baik langsung maupun tidak langsung                         ü             ü                      ü
        dengan Perseroan atau perusahaan lain yang menyediakan jasa dan produk
        kepada Perseroan dan afiliasinya.
        Having no financial link, either directly or indirectly with The Company or other
        companies providing services and products to the Company and its affiliates.


 5.     Bebas dari kepentingan dan aktivitas bisnis atau hubungan lain yang dapat
        menghalangi atau mengganggu kemampuan Dewan Komisaris untuk                                       ü             ü                      ü
        bertindak atau berpikir secara bebas di lingkup Perseroan.
        Free from business interests and activities or other relationships that may impair
        or bother the ability of the Board of Commissioners to act or to think freely within
        the scope of the Company.


146                   Ikhtisar Utama                   Laporan Manajemen                   Profil Perusahaan          Analisa & Pembahasan Manajemen
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 Direksi
 Board of Directors


  Direksi memiliki tanggung jawab penuh secara kolegial untuk               The Board of Directors have collegial responsibility to carry out the
  melakukan pengelolaan Perusahaan serta melaksanakan GCG sesuai            management of the Company as well as the implementation of GCG
  ketentuan yang tercantum di Anggaran Dasar Perseroan. Masing-             according to the provisions stipulated in the Company’s Articles of
  masing anggota Direksi melaksanakan tugas dan wewenangnya,                Association. Each member of Directors performs his duties and
  dengan tujuan menghasilkan pencapaian yang optimal.                       authorities, with the goal of attaining an optimal achievement.



  Dasar Hukum | Legal Basis
  Dasar hukum yang menjadi acuan penunjukan Dewan Komisaris                 Legal basis that are applied as references in the appointment of
  SPINDO antara lain:                                                       SPINDO’s Board of Commissioners, namely:
  1. Undang-Undang Republik Indonesia tentang Perseroan                     1. Law of the Republic of Indonesia concerning Limited Liability
     Terbatas.                                                                 Companies.
  2. Anggaran Dasar Perseroan.                                              2. The Article of Association.
  3. Peraturan Otoritas Jasa Keuangan No. 33 Tahun 2014 tentang             3. Regulation of Financial Services Authority No. 33 of 2014 on the
     Direksi dan Dewan Komisaris Emiten atau Perusahaan Publik.                Board of Director and Commissioners of Issuer or Public
  4. Surat Edaran Otoritas Jasa Keuangan No. 32 Tahun 2015 tentang             Company.
     Pedoman Tata Kelola Perusahaan.                                        4. Circular Letter of Financial Services Authority No. 32 of 2015 on
                                                                               Corporate Governance Guidelines for Listed Companies;

  Kriteria dan Proses Pengangkatan Anggota Direksi |
  Criteria and Appointment Process of the Member of the Board of Directors
  Perseroan memiliki kriteria persyaratan calon anggota Dewan               The Company has set up the required criteria for the candidate
  Komisaris sebagaimana tercantum dalam Anggaran Dasar                      members of the Board of Commissioners as stated in the Company’s
  Perseroan. Anggota Dewan Komisaris Perseroan adalah orang                 Article of Association. A member of the Board of Commissioners is an
  perseorangan yang memenuhi persyaratan sebagai berikut:                   individual who meets the following requirements:
  1. Mempunyai akhlak, moral, dan integritas yang baik.                     1. Having good character, morals, and integrity.
  2. Cakap melakukan perbuatan hukum.                                       2. Competent in carrying out legal actions.
  3. Dalam 5 tahun sebelum pengangkatan dan selama menjabat:                3. Within the last 5 (five) years prior to the appointment and while in
     a. Tidak pernah dinyatakan pailit.                                        office:
     b. Tidak pernah menjadi anggota Direksi dan/atau anggota                  a. He/She has never been declared bankrupt.
         Dewan Komisaris yang dinyatakan bersalah menyebabkan                  b. He/She has never been convicted guilty for causing a
         suatu perusahaan dinyatakan pailit.                                         Company’s bankruptcy while serving as a member of the
     c. Tidak pernah dihukum karena melakukan tindak pidana yang                     Board of Directors and/or Commissioners.
         merugikan keuangan negara dan/atau yang berkaitan dengan              c. He/She has never been convicted of any criminal offense that
         sektor keuangan.                                                            inflicts financial loss to the State and/or to those related to the
     d. Tidak pernah menjadi anggota Direksi dan/atau anggota                        financial sector.
         Dewan Komisaris yang selama menjabat:                              d. He/She has never served as a member of the Board of Directors
         •      Pernah tidak menyelenggarakan RUPST.                                 and/or Commissioners in which during his/her office terms:
         •      Pertanggungjawabannya sebagai anggota Direksi                  •     Has once or more failed to hold AGMS.
                dan/atau anggota Dewan Komisaris pernah tidak diterima         •     Has his/her accountability report as a member of the Board of
                oleh RUPS atau pernah tidak memberikan pertanggung-                  Directors and or Commissioners been rejected by GMS or has
                jawaban sebagai anggota Direksi dan/atau anggota                     once or more failed to provide one as a member of the Board of
                Dewan Komisaris kepada RUPS.                                         Directors and/or Commissioners to GMS.
         •      Pernah menyebabkan perusahaan yang mem-peroleh                 •     Has caused a Company that obtained license, approval or
                izin, persetujuan, atau pendaftaran dari OJK tidak                   registration from OJK fails to complete its obligation of
                memenuhi kewajiban menyampaikan laporan tahunan                      submitting an annual report and/or financial statements to
                dan/atau laporan keuangan kepada OJK.                                OJK.
             Tata Kelola Perusahaan     Tanggung Jawab Sosial Perusahaan            Referensi                      Laporan Keuangan              147
             Corporate Governance         Corporate Social Responsibility          References                     Financial Statements             5
Page 156
                                                                                                                        2024 Annual Report




 4. Memiliki komitmen untuk mematuhi peraturan perundang-                       4. Having a strong commitment to comply with the laws and
      undangan.                                                                    regulations.
 5. Memiliki pengetahuan dan/atau keahlian di bidang yang                       5. Having knowledge and/or expertise in the field that is needed by
      dibutuhkan Perseroan.                                                        the Company.




Kebijakan mengenai Suksesi Direksi | Policy on the Board of Directors’ Succession

 Kebijakan Suksesi Direksi dirancang untuk menciptakan sebuah pola              The Board of Directors’ Succession Policy is designed to create an
 kaderisasi kepemimpinan yang efektif, transparan, dan wajar dengan             effective, transparent and reasonable leadership regeneration
 mempertimbangkan kinerja, kompetensi, pengalaman berkarir dan                  pattern, by taking into account performance, competencies,
 persyaratan lain sesuai dengan Peraturan yang berlaku, baik regulasi           professional experience and other requirements
 maupun aturan internal Perseroan. Calon Anggota Direksi melalui                in accordance with the applicable regulations, both institutional
 beberapa rangkaian proses seleksi yang independen sebelum                      regulations as well as the Company’s internal rules. Prospective
 diusulkan ke Pemegang Saham yang memiliki wewenang untuk                       members of the Board of Directors will go through several series of
 mengusulkan dalam RUPS.                                                        independent selection processes before being proposed to the
                                                                                Shareholders who have the authority to propose him/her in GMS.



 Jumlah & Komposisi Direksi | Number & Composition of Board of Directors (BoD)
 Pada tahun 2024, Dewan Direksi Perseroan keseluruhan berjumlah 5               In 2024, Members of the Board of Directors of the Company are 5
 (lima) orang dengan 1 (satu) di antaranya merupakan Direktur                   (five) persons, of whom 1 (one) among others is Independent Director
 Independen sehingga telah sesuai dengan ketentuan yang berlaku,                that complies with applicable provisions, as regulated by the Board of
 sebagaimana yang diatur Piagam Direksi.             Berikut jumlah dan         Directors’ Charter. The following are the number and composition of
 komposisi Direksi Perseroan:                                                   the Company’s Board of Directors:


           Nama                               Jabatan                                      Dasar Pengangkatan                                     Domisili
           Name                               Position                                     Basis of Appointment                                   Domicile


 Ibnu Susanto                             Direktur Utama                 Akta Keputusan Rapat Umum Pemegang Saham Tahunan                          Jakarta
                                         Presiden Director                              no. 41 tanggal 28 Juni 2024
                                                                             Deed of Resolutions the Annual General Meeting of
                                                                                 Shareholders no. 41 dated June 28th, 2024
 Tedja Sukmana Hudianto                Wakil Direktur Utama              Akta Keputusan Rapat Umum Pemegang Saham Tahunan                        Surabaya
                                       Vice President Director                          no. 41 tanggal 28 Juni 2024
                                                                             Deed of Resolutions the Annual General Meeting of
                                                                                 Shareholders no. 41 dated June 28th, 2024
 Soediarto Soerjoprahono                      Direktur                   Akta Keputusan Rapat Umum Pemegang Saham Tahunan                          Jakarta
                                              Director                                  no. 41 tanggal 28 Juni 2024
                                                                             Deed of Resolutions the Annual General Meeting of
                                                                                 Shareholders no. 41 dated June 28th, 2024
 Tikman Utomo *                               Direktur                   Akta Keputusan Rapat Umum Pemegang Saham Tahunan                        Surabaya
                                              Director                                 no. 302 tanggal 30 Juni 2022
                                                                             Deed of Resolutions the Annual General Meeting of
                                                                                Shareholders no. 302 dated June 30th, 2022



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            Nama                              Jabatan                                               Dasar Pengangkatan                           Domisili
            Name                              Position                                              Basis of Appointment                         Domicile

  Nico Gunawan **                             Direktur                       Akta Keputusan Rapat Umum Pemegang Saham Tahunan                   Surabaya
                                              Director                                     no. 41 tanggal 28 Juni 2024
                                                                               Deed of Resolutions the Annual General Meeting of
                                                                                   Shareholders no. 41 dated June 28th, 2024
  *) Sampai 28 Juni 2024 | Until 28 June 2024 **) Sejak 28 Juni 2024 | Since 28 June 2024


  Masa Jabatan Anggota Direksi | Term of Office of Members of the Board of Directors
  a. Masa jabatan anggota Direksi untuk 1 periode paling lama adalah              a. The term of office of members of the Board of Directors for 1 (one)
     5 (lima) tahun terhitung sejak tanggal yang ditetapkan oleh RUPS                 period is a maximum of 5 (five) years effective from the date of
     yang mengangkatnya, namun demikian dengan tidak                                  appointment by GMS, however by not reducing the rights of GMS
     mengurangi hak RUPS tersebut untuk memberhentikan Direksi                        to dismiss the Board of Directors at any time before his term ends
     tersebut sewaktu-waktu sebelum masa jabatannya berakhir                          in accordance with provisions of the Company’s Articles of
     sesuai dengan ketentuan Anggaran Dasar Perusahaan.                               Association.
  b. Setelah masa jabatannya berakhir, Direksi dapat diangkat kembali             b. After the term of office ends, the Board of Directors can be
     oleh RUPS untuk 1 kali masa jabatan kecuali ditetapkan lain                      reappointed by the GMS for 1 (one) term of office unless
     dalam RUPS.                                                                      otherwise stipulated in the GMS.
  c. Jabatan Direksi berakhir apabila:                                            c. The term of office of the Board of Directors ends if:
     1. Masa jabatannya berakhir.                                                    1. Term of office ends;
     2. Mengundurkan diri sesuai dengan ketentuan Anggaran Dasar                     2. Resign in accordance with the provisions of the Company’s
         Perusahaan.                                                                     Articles of Association;
     3. Tidak lagi memenuhi persyaratan perundangan yang berlaku.                    3. No longer meets the requirements of the applicable law;
     4. Meninggal dunia dalam masa jabatannya.                                       4. Decease during the term of office;
     5. Diberhentikan berdasarkan Keputusan RUPS.                                    5. Dismissed based on GMS Resolution;
     6. Terlibat dalam tindakan kejahatan keuangan.                                  6. Involved in financial crime;
     7. Batal karena hukum apabila diketahui anggota Direksi                         7. Annulled due to the law when it is revealed that member of the
         tersebut tidak memenuhi persyaratan sebagaimana                                 Board of Directors did not comply with the requirements as
         dimaksud dalam UU No. 40 Tahun 2007 Pasal 110 dan                               referred by Law No. 40 of 2007 Article 110 and the Board of
         Dewan Komisaris atau anggota Direksi lainnya harus                              Commissioners or other members of the Board of Directors
         mengumumkan batalnya pengangkatan tersebut dalam surat                          must announce the annulment of the appointment in the
         kabar serta memberitahukannya kepada Menteri untuk                              newspaper and inform the Minister to be noted in the
         dicatat dalam daftar Perusahaan selambat-lambatnya 7                            Company register at the latest 7 (seven) days from the date of
         (tujuh) hari terhitung sejak diketahuinya.                                      revelation.
  d. Anggota Direksi dapat diberhentikan sewaktu-waktu                            d. Members of the Board of Directors may be dismissed at any time
     berdasarkan keputusan RUPS dengan menyebutkan alasannya,                         based on the resolution of the GMS by stating the reason, if a
     apabila anggota Direksi tersebut:                                                member of the Board of Directors:
     1. Tidak dapat melaksanakan tugasnya dengan baik.                               1. Fails to carry out their duties properly;
     2. Tidak melaksanakan ketentuan peraturan perundang-                            2. Does not implement the provisions of the laws and
         undangan dan/atau ketentuan Anggaran Dasar Perusahaan.                          regulations and/or of the Company’s Articles of Association;
     3. Terlibat dalam tindakan kejahatan keuangan.                                  3. Involved in financial crime;
     4. Dinyatakan bersalah dengan putusan pengadilan yang                           4. Declared guilty by court decision with permanent legal force;
         mempunyai kekuatan hukum yang tetap.                                        5. Resign according to the Articles of Association of the
     5. Mengundurkan diri sesuai Anggaran Dasar Perusahaan.                              Company;
     6. Pengangkatan anggota Direksi tidak memenuhi persyaratan                      6. Appointment of members of the Board of Directors fails to meet
         sebagaimana dimaksud dalam UU No. 40 Tahun 2007 Pasal 93.                       the requirements as stipulated in Law No. 40 of 2007 Article 93.



          Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan               Referensi                      Laporan Keuangan              149
          Corporate Governance             Corporate Social Responsibility             References                     Financial Statements             5
Page 158
                                                                                                                     2024 Annual Report




Piagam Direksi | Board of Directors’ Charter

 Direksi memiliki Piagam yang yang memuat seperangkat prosedur           The Board of Directors’ Charter consists of a set of procedures and
 dan pedoman untuk memfasilitasi dan membantu operasi fungsional         manuals to facilitate and assist the functional operations of the Board
 Direksi. Piagam Direksi dan Piagam Dewan Komisaris tercantum            of Directors. The Charter of the Board of Directors and the Board of
 dalam Board Manual yang dikeluarkan pada tanggal 9 Januari 2018.        Commissioners is stated in the Board Manual issued on January 9,
 Piagam ini menetapkan dasar hukum; tugas, tanggung jawab dan            2018. The Charter stipulates the legal basis, duties, responsibilities
 wewenang; aturan bisnis; jam kerja; dan pelaporan dan                   and authorities; business rules; working hours; and reporting and
 pertanggungjawaban Direksi.                                             accountability of the Board of Directors.


 Piagam dievaluasi secara berkala dan diperbarui jika diperlukan.        The BoC’ Charter is regularly evaluated and updated if necessary. The
 Piagam Dewan Komisaris tersedia di situs Perseroan :                    BoC’ Charter is available on the Company’s website at :
 https://www.spindo.com/board-manual/                                    https://www.spindo.com/board-manual/




Tugas & Tanggung Jawab Direksi | Duties & Responsibilities of The Board of Directors (BoD)

Secara umum, Direksi berperan untuk mengelola kegiatan                   In general, the Board of Directors serves to manage the Company’s
operasional perusahaan dengan orientasi kepentingan terbaik              operations with the Company’s best interest as its orientation. The
perusahaan. Ruang lingkup pekerjaan dan tanggung jawab direksi           scope of duties and responsibilities of the Board of Directors is
dijabarkan sebagai berikut:                                              detailed below:
a. Dengan itikad baik dan penuh tanggung jawab menjalankan tugas         a. In good faith and full of responsibility carrying out its duties for the
      untuk kepentingan Perusahaan;                                         interest of the Company;
b. Tunduk pada ketentuan peraturan perundang-undangan yang               b. Comply with the provisions of the prevailing laws and regulations,
      berlaku, Anggaran Dasar dan Keputusan RUPS, serta memastikan          Article of Association and GMS Resolution, and to ensure that all
      seluruh aktivitas Perusahaan telah sesuai dengan ketentuan            activities of the Company are in line with the provisions of the
      peraturan perundang-undangan yang berlaku, Anggaran Dasar             prevailing laws and regulations, the Articles of Association and
      dan Keputusan RUPS;                                                   GMS Resolution;
c. Menerapkan prinsip-prinsip GCG secara konsisten dan                   c. Implement the GCG principles consistently and continually based
      berkelanjutan dengan berpedoman pada ketentuan yang berlaku           on the prevailing provision by constantly observing the applicable
      dengan tetap memperhatikan ketentuan, dan norma yang berlaku          provisions and norms and the Company’s Article of Association;
      serta Anggaran Dasar Perusahaan;                                   d. Making sure that the External Auditor, Internal Auditor and Audit
d. Memastikan bahwa Auditor Eksternal, Auditor Internal, dan                Committee and other committees (if any) have access to
      Komite Audit, serta komite lainnya ( jika ada), memiliki akses        accounting records, supporting data and information concerning
      terhadap catatan akuntansi, data penunjang, dan informasi             the Company for as long as it needed to perform their duties;
      mengenai Perusahaan, sepanjang diperlukan untuk melaksana-         e. Comply with the Company’s internal regulation, Code of Conducts
      kan tugasnya;                                                         and Good Corporate Governance policy;
e. Mematuhi peraturan internal Perusahaan, Pedoman Perilaku              f. Managing the Company for the interest and purpose of the
      (Code of Conduct) dan Kebijakan Tata Kelola Perusahaan (Good          Company;
      Corporate Governance);                                             g. In every decision-making process/action, it must consider the
f. Melaksanakan pengurusan Perusahaan untuk kepenting-an dan                business risk.
      tujuan Perusahaan;
g. Dalam setiap pengambilan keputusan/tindakan, harus
      mempertimbangkan risiko usaha.



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Laporan Tahunan 2024




  Pembagian Tugas Direksi | Task Division of the Board of Directors

             Nama                       Jabatan                                                              Tugas & Tanggung Jawab
             Name                       Position                                                              Duties & Responsibilities

  Ibnu Susanto                        Direktur Utama           Bertanggung jawab atas kebijakan strategis Perusahaan dan memberikan arahan umum
  President Director                President Director         tentang target dan solusi atas tantangan yang dihadapi.
                                                               Responsible for corporate strategic policy and provide general guidance on targets and
  .                                          .                 solutions to the challenges faced.

  Tedja Sukmana                    Wakil Direktur Utama Bertanggung jawab atas aspek keuangan, pembelian bahan baku, & kinerja rutin Perseroan.
  Hudianto                            Vice President           Responsible for financial aspects, raw material purchase, & regular performance of the
                                         Director              Company.

  Soediarto                              Direktur              Bertanggung jawab atas pemasaran dan penjualan Perusahaan.
  Soerjoprahono                          Director              Responsible for marketing and sales of the Company.

  Tikman Utomo *                         Direktur              Bertanggung jawab atas pengelolaan operasional Perusahaan.
                                         Director              Responsible for managing the Company’s operations.

  The, Hanny Purnomo                     Direktur              Bertanggung jawab atas perencanaan, pelaksanaan, evaluasi dan peningkatan sistem komunikasi,
                                         Director              teknologi, dan data di lingkungan Perusahaan, termasuk aspek penggunaan teknologi.
  .                                                            Responsible for planning, execution, evaluation and improvement of communications system,
                                             .                 technology, and data in the Company’s environment, including the aspect of technology usage.

  Nico Gunawan **                        Direktur              Bertanggung jawab atas pengelolaan operasional Perusahaan.
                                         Director              Responsible for managing the Company’s operations.

  *) Sampai 28 Juni 2024 | Until 28 June 2024 **) Sejak 28 Juni 2024 | Since 28 June 2024



  Kepemilikan Saham Direksi | Share Ownership by the Board of Directors

                                                                                                              Kepemilikan Saham | Share Ownership
              Nama                                               Jabatan                        Pribadi pada Perusahaan              Keluarga pada Perusahaan
              Name                                               Position                         Personal to Company                    Family to Company

  Ibnu Susanto                                              Direktur Utama                                      -                                    -
                                                          President Director
  Tedja Sukmana Hudianto                                Wakil Direktur Utama                                    -                                    -
                                                       Vice President Director
  Soediarto Soerjoprahono                                        Direktur                                       -                                    -
                                                                 Director
  Tikman Utomo *                                                 Direktur                                       -                                    -
                                                                 Director
  The, Hanny Purnomo                                             Direktur                                       -                                    -
                                                                 Director

  Nico Gunawan **                                                Direktur                                  3800 lembar                               -
                                                                 Director                                  3800 shares

  *) Sampai 28 Juni 2024 | Until 28 June 2024 **) Sejak 28 Juni 2024 | Since 28 June 2024

          Tata Kelola Perusahaan                 Tanggung Jawab Sosial Perusahaan              Referensi                       Laporan Keuangan          151
          Corporate Governance                     Corporate Social Responsibility            References                      Financial Statements         5
Page 160
                                                                                                                           2024 Annual Report




 Setiap adanya perubahan portofolio kepemilikan saham Perusahaan, maka      Any changes in the portfolio of the ownership of the Company’s shares, the
 Direksi wajib melaporkan kepada Sekretaris Perusahaan melalui penyerahan   Board of Directors must report to the Corporate Secretary through Special List
 Daftar Khusus Kepemilikan Saham untuk selanjutnya disampaikan kepada       of Share Ownership for then to be reported to the Capital Market Authority at
 Otoritas Pasar Modal selambat-lambatnya 3 (tiga) hari sejak terjadinya     the latest 3 (three) days since the transaction occurred.
 transaksi.



Rangkap Jabatan Direksi | Concurrent Position of the Board of Directors
 Ketentuan mengenai rangkap jabatan Direksi SPINDO juga                     Provisions regarding the concurrent position of the SPINDO Board of
 tercantum dalam Peraturan Otoritas Jasa Keuangan Nomor                     Directors are also stated in the Financial Services Authority
 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris Emiten atau            Regulation Number 33/POJK.04/2014 concerning the Directors and
 Perusahaan Publik serta peraturan perundang-undangan lainnya.              the Board Commissioner of Issuers or Public Companies and other
                                                                            regulations.



      Nama                                      Jabatan                                       Rangkap Jabatan pada Perusahaan Lain
      Name                                      Position                                      Concurrent Position in Other Companies

Ibnu Susanto                               Direktur Utama                        Ÿ   Komisaris Utama, PT Nugraha Purnama Jakarta
                                           President Director                        President Commissioner, PT Nugraha Purnama Jakarta
                                                                                 Ÿ   Direktur Utama, Panca Cemerlang Abadi
                                                                                     President Director, Panca Cemerlang Abadi
                                                                                 Ÿ   Direktur Utama, PT Fuji Technologi Indonesia
                                                                                     President Director, PT Fuji Technologi Indonesia
                                                                                 Ÿ   Komisaris, PT Saranacentral Bajatama Tbk
                                                                                     Commissioner, PT Saranacentral Bajatama Tbk
                                                                                 Ÿ   Direktur Utama, PT Ready Indah
                                                                                     President Director, PT Ready Indah
                                                                                 Ÿ   Direktur Utama, PT Djawa Indah
                                                                                     President Director, PT Djawa Indah
                                                                                 Ÿ   Direktur Utama, PT Pah Tsung School
                                                                                     President Director, PT Pah Tsung School
                                                                                 Ÿ   Komisaris Utama, PT Menara Prambanan
                                                                                     President Commissioner, PT Menara Prambanan
                                                                                 Ÿ   Direktur Utama, PT Sarana Steel Engineering
                                                                                     President Director, PT Sarana Steel Engineering
                                                                                 Ÿ   Komisaris Utama, PT Cakra Bhakti Para Putra
                                                                                     President Commissioner, PT Cakra Bhakti Para Putra
                                                                                 Ÿ   Komisaris Utama, PT Kasih Jatim
                                                                                     President Commissioner, PT Kasih Jatim
                                                                                 Ÿ   Direktur, PT Nar Stainless Steel Center
                                                                                     Director, PT Nar Stainless Steel Center
                                                                                 Ÿ   Direktur Utama, PT Sarana Steel
                                                                                     President Director, PT Sarana Steel
                                                                                 Ÿ   Direktur Utama, PT Sarana Surya Sakti
                                                                                     President Director, PT Sarana Surya Sakti



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             Nama                                 Jabatan                                                 Rangkap Jabatan pada Perusahaan Lain
             Name                                 Position                                                Concurrent Position in Other Companies

  Tedja Sukmana Hudianto                      Wakil Direktur Utama                      Ÿ   Direktur, PT Cakra Bhakti Agro Industry
                                              Vice President Director                       Director, PT Cakra Bhakti Agro Industry
                                                                                        Ÿ   Direktur Utama, PT Cakra Bhakti Bumi Persada
                                                                                            Direktur Utama, PT Cakra Bhakti Bumi Persada
                                                                                        Ÿ   Komisaris, PT Sanko Steel Indonesia
                                                                                            Commissioner, PT Sanko Steel Indonesia
                                                                                        Ÿ   Direktur, PT Cakra Putra Lestari
                                                                                            Director, PT Cakra Putra Lestari
                                                                                        Ÿ   Direktur Utama, PT Cakra Bhakti Para Putra
                                                                                            President Director, PT Cakra Bhakti Para Putra
                                                                                        Ÿ   Direktur, PT NAR Stainless Steel Center
                                                                                            Director, PT NAR Stainless Steel Center
                                                                                        Ÿ   Direktur, PT Kasih Jatim
                                                                                            Director, PT Kasih Jatim
  Soediarto Soerjoprahono                     Direktur                                  Ÿ   Komisaris Utama, PT Sarana Central Bajatama Tbk
                                              Director                                      President Commissioner, PT Sarana Central Bajatama Tbk
                                                                                        Ÿ   Direktur, PT Sarana Steel
                                                                                            Director, PT Sarana Steel
                                                                                        Ÿ   Direktur, PT Sarana Surya Sakti
                                                                                            Director, PT Sarana Surya Sakti
                                                                                        Ÿ   Direktur, PT Purnama Nugraha
                                                                                            Director, PT Purnama Nugraha
  Tikman Utomo *                              Direktur                                  -
                                              Director
  The, Hanny Purnomo                          Direktur                                  -
                                              Director
  Nico Gunawan **                             Direktur                                  -
                                              Director
  *) Sampai 28 Juni 2024 | Until 28 June 2024 **) Sejak 28 Juni 2024 | Since 28 June 2024

  Pelatihan Direksi | Board of Directors’ Training
  Tahun 2024, Pelatihan Direksi sebagai berikut:                                        In 2024, Board of Directors Training as follows:

                                                                              Pelaksanaan Pelatihan | Training Implementation

  No.     Unit Kompetensi                      Tanggal                             Judul Pelatihan                         Penyelenggara            Realisasi Pelatihan
          Competence Unit                       Date                                Training Title                            Provider                 Realization

  1. Manajemen Bisnis |              25 Juli 2024 |              Tantangan dan Peluang Kolaborasi: Perpaduan           Daya Dimensi Indonesia Selesai | Done
        Business Management 25 July 2024                         Perusahaan Keluarga dan Profesionalisme
                                                                 dalam Era Bisnis Modern
                                                                 Challenges and Opportunities for Collaboration:
                                                                 The Combination of Family Business and
                                                                 Professionalism in the Modern Business Era
  2. Manajemen Bisnis |              12 Desember 2024 | Level Up Strategy: A Strategy Framework for                      Bp. Paulus Bambang            Selesai | Done
        Business Management 12 December 2024                     Growth                                             (Komisaris Independen UT |
                                                                                                                            Indenpendent
                                                                                                                          Commissioner UT)
            Tata Kelola Perusahaan            Tanggung Jawab Sosial Perusahaan                Referensi                       Laporan Keuangan                    153
            Corporate Governance                Corporate Social Responsibility              References                      Financial Statements                   5
Page 162
                                                                                                                     2024 Annual Report




Penilaian Kinerja Direksi | Board of Directors’ Performance Assesment

 Prosedur                                                                   Procedure
 Pelaksanaan evaluasi kinerja Direksi Perseroan dilakukan secara            The performance evaluation of the Directors of the Company is
 kolegial sebagaimana tercantum dalam Anggaran Dasar Perseroan,             conducted in a collegial manner as stated in the Company’s Article of
 Pedoman, dan Kontrak Manajemen yang ditetapkan oleh Pemegang               Association, Guidelines, and Management Contracts determined by
 Saham pada RUPS Tahunan.                                                   the Shareholders in AGMS.


 Kriteria                                                                   Criteria
 Penilaian Kinerja dilakukan dengan kriteria yang telah ditetapkan          Performance appraisal uses the criteria that has been determined
 secara tahunan melalui Indikator Penilaian Kinerja (KPI) Direksi yang      annually through Performance Assessment Indicators of the
 meliputi aspek:                                                            Directors (KPI) which covers the aspects of:
 1.   Pencapaian Key Performance Indicators (KPI) dalam Kontrak             1.   Achievement of Key Performance Indicators (KPI) in the
      Manajemen.                                                                 Management Contract.
 2.   Self-Assessment penerapan GCG.                                        2.   Self-Assessment of the implementation of GCG.
 3.   Perumusan dan Implementasi, strategi serta inovasi.                   3.   Formulation and Implementation, strategy and innovation.
 4.   Pencapaian manajemen dalam meningkatkan nilai bagi                    4.   Management’s achievement in increasing value for Shareholders.
      Pemegang Saham.                                                       5.   The performance of each Director individually.
 5.   Kinerja masing-masing Direktur secara individu.


 Hasil Penilaian                                                            Assessment Results
 Secara keseluruhan, realisasi pencapaian KPI Direksi pada 2024 telah       Overall, the realization of the Board of Directors’ KPI achievements in
 sesuai dengan target yang ditetapkan Pemegang Saham. Di samping            2024 is in line with the targets set Shareholders In addition, to
 itu, untuk mengetahui sejauh mana tingkat penilaian kinerja Direksi        understand to what extent the level of the performance assessment
 berdasarkan implementasi Tata Kelola Perusahaan, SPINDO juga               of the Board of Directors based on the implementation of corporate
 menerapkan self-assessment yang penilaiannya mengacu pada                  governance of the Company, SPINDO has also adopted the self-
 Surat Edaran Otoritas Jasa Keuangan No. 32/SEOJK.04.2015 tanggal           assessment which the assessment method refers to the Circular
 17 November 2015 tentang Pedoman Tata Kelola Perusahaan                    Letter of Financial Services Authority No. 32/SEOJK.04.2015 dated
 terbuka. Penerapan self-assessment ini juga bertujuan untuk                November 17, 2015 concerning Corporate Governance Guidelines
 meningkatkan kualitas pelaksanaan tugas dan tanggung jawab                 for Public Companies. The self-assessment implementation also aims
 Direksi. Selain itu, kebijakan ini juga menilai kinerja Direksi secara     to elevate the quality of the execution of the duties and
 kolegial sehingga anggota Direksi dapat berkontribusi untuk                responsibilities of the Board of Directors. Aside from that, this policy
 memperbaiki kinerja Direksi secara berkesinambungan.                       also evaluates the Board of Directors’ performances in a collegial
                                                                            manner to enable the Board of Directors to contribute in improving
                                                                            their performance continuously.




154                    Ikhtisar Utama                   Laporan Manajemen                 Profil Perusahaan            Analisa & Pembahasan Manajemen
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  Evaluasi Diri Direksi | Board of Directors’ Self-Assessment

  Integritas & Kompetensi | Integrity & Competence

                                 Seluruh anggota Direksi memiliki integritas dan kompetensi sesuai
                                 dengan bidang tugasnya | All members of the Board of Directors have
                                 the integrity and competence appropriate to their respective areas of
              100%               responsibility

                                   Sudah memperhatikan GCG | Completely observant to GCG




  Pengambilan Keputusan | Decision-Making Process

           9.1%
   9.1%                          Direksi telah mengungkapkan kepada pegawai kebijakan Perseroan
                                 yang bersifat strategis | The board of directors disclosed the company's
            81.8%                strategic guidelines to employees
                                   Sudah jelas dan transparan | Clear and transparent             Tidak selalu | Occasionally           Tidak tahu | Unaware




          9.1%
                                 Direksi telah menyediakan data dan informasi yang akurat, relevan dan
                                 tepat waktu kepada Dewan Komisaris dan Pemegang Saham | The Board
             90.9%               of Directors has provided accurate, relevant and timely data and information
                                 to the Board of Commissioners and shareholders

                                   Sudah akurat, relevan, dan tepat waktu | Accurate, relevant, and on time            Tidak tahu | Unaware




          9.1%
                                 Setiap anggota Direksi memiliki kejelasan tugas dan tanggung jawab sesuai
                                 dengan bidang tugasnya | Each Board of Directors has clear duties and
             90.9%               responsibilities depending on his field of activity
                                   Selalu | Always                                                                     Tidak tahu | Unaware




        Tata Kelola Perusahaan     Tanggung Jawab Sosial Perusahaan                   Referensi                              Laporan Keuangan                  155
        Corporate Governance         Corporate Social Responsibility                 References                             Financial Statements                 5
Page 164
                                                                                                                       2024 Annual Report




      9.1%
                                  Direksi memiliki pedoman dan tata tertib kerja yang telah
                                  mencantumkan pengaturan waktu kerja dan rapat, yang dilaksanakan
         90.9%                    dengan baik | The Board of Directors has guidelines of work and rules,
                                  including working hours and meeting arrangements, that are properly
                                  implemented
                                    Sudah efektif | Effectively                 Tidak tahu | Unaware



      9.1%
                                  Rapat Direksi telah dilakukan dengan efektif |

         90.9%                    The Board of Directors meeting was conducted effectively
                                    Sudah efektif | Effectively                 Ragu-ragu | Uncertain




        9.1%
9.1%                              Keputusan Direksi telah dituangkan ke dalam risalah rapat, termasuk
                                  dissenting opinions yang terjadi secara jelas | The Board of Directors’
        81.8%                     decision have been stated in the minutes of the meeting, including clear
                                  dissenting opinions
                                    Sudah jelas | Clearly                       Ragu-ragu | Uncertain              Tidak tahu | Unaware




       9.1%
                                  Risalah rapat yang merupakan keputusan bersama seluruh anggota
                                  Direksi telah didokumentasikan dengan baik | Minutes of meetings
         90.9%                    which are joint decisions of all members of the Board of Directors have
                                  been well documented
                                    Sudah baik | Already well                   Tidak tahu | Unaware




 18.2%                            Keputusan Rapat Direksi yang Perlu Ditindaklanjuti |
                                  Decision of the Board of Directors Meetings that Needs to be Followed-up
        81.8%
                                    Telah ditindaklanjuti dengan seksama | Have been followed up carefully       Ragu-ragu | Uncertain




156              Ikhtisar Utama                        Laporan Manajemen                      Profil Perusahaan         Analisa & Pembahasan Manajemen
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Laporan Tahunan 2024




 Tindaklanjut Laporan Internal Audit | Follow-up on the Internal Audit Report

                                    Apakah Saudara senantiasa bertindak secara independen, bebas dari
                                    benturan kepentingan apapun dan senantiasa bertindak untuk kepentingan
                                    terbaik Perusahaan? | Do you always act independently, without any conflicts
              100%                  of interest, and always in the best interests of the Company?

                                      Sudah profesional dan bebas dari vested interest | Have been conducted professionally and free from vested interest




                                    Sejauh yang anda ketahui, apakah Laporan Internal Audit pada direktorat/
                                    divisi anda telah ditindak lanjuti secara konsisten dan bila perlu dibahas
                                    dalam Rapat Direksi? | To your knowledge, are your department/division's
              100%                  internal audit reports systematically monitored and, if necessary, discussed
                                    at board meetings
                                      Sudah konsisten dan dipertanggungjawabkan secara berkala | Have been consistent and accounted periodically




 Penilaian atas Kinerja Organ Penunjang Direksi |
 Performance Assessment of the Board of Directors’ Supporting Organs

 Direksi dalam melaksanakan tugas dan tanggung jawabnya                           In performing their duties and responsibilities, the Board of Directors
 didukung oleh organ di bawah Direksi. Organ pendukung ini terdiri                is supported by the organs under them. These supporting organs
 dari Unit Audit Internal dan Sekretaris Perusahaan. Direksi telah                comprise the Internal Audit Unit and the Corporate Secretary. The
 melaksanakan evaluasi terhadap kinerja untuk kedua unit tersebut.                Board of Directors has evaluated the performance of both units.
 Penilaian kinerja berdasarkan realisasi dan penyelesaian program                 Performance appraisal is based on the realization and completion of
 kerja yang telah tersusun, saran, rekomendasi dan masukan yang                   the work programs that have been established, advices,
 diberikan oleh organ di bawah Direksi serta tingkat kehadiran rapat.             recommendations and inputs provided by the organs under the Board
                                                                                  of Directors as well as meeting attendance rates.


 Pada tahun 2024, capaian Kepala Audit Internal dan Sekretaris                    In 2024, the achievements of the Head of the Internal Audit and the
 Perusahaan telah sesuai dengan target yang ditetapkan.                           Corporate Secretary are line with the assigned target.




           Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan                   Referensi                           Laporan Keuangan             157
           Corporate Governance           Corporate Social Responsibility                 References                          Financial Statements            5
Page 166
                                                                                                                                                     2024 Annual Report




 Hubungan Afiliasi antara Anggota Direksi, Dewan Komisaris, dan Pemegang Saham Utama |
 Affiliation between Member of the Board of Directors, Board of Commissioners, and Majority Shareholders

 Hubungan afiliasi antara Dewan Komisaris dan Direksi serta                                         Affiliation between Member of Board of Directors, Board of
 Pemegang Saham baik secara keuangan maupun kekeluargaan antar                                     Commissioners and Shareholders both financially or kinship between
 satu sama lain adalah sebagai berikut:                                                            one another is as follow:




                                        Makmur             Entario       Bing H.          Welly           Ibnu            Tedja S.       Soediarto           Nico           The, Hanny
                                        Widjaja        Widjaja Susanto Poernomosidi      Tantono         Susanto          Hudianto     Soerjoprahono       Gunawan           Purnomo
                                     Komisaris Utama       Komisaris       Komisaris      Komisaris        Direktur          Wakil        Direktur           Direktur         Direktur
                                         Komisaris       Commissioner     Independen     Independen        Utama            Direktur      Director           Director         Director
                                        Independen                       Independent    Independent       President         Utama
                                          President                     Commissioner   Commissioner        Director          Vice
                                      Commissioner                                                                         President
                                       Independent                                                                          Director
                                      Commissioner

         Makmur Widjaja
           Komisaris Utama
         Komisaris Independen                                 X              X               X              X                 X             X                  X                 X
        President Commissioner
      Independent Commissioner

         Entario Widjaja
            Susanto
             Komisaris                     X                                 X               X                                                                 X                 X
           Commissioner


          Welly Tantono

                                           X                  X                              X              X                 X             X                  X                 X
         Komisaris Independen
      Independent Commissioner

          Bing Hartono
          Poernomosidi
                                           X                  X              X                              X                 X             X                  X                 X
         Komisaris Independen
      Independent Commissioner


           Ibnu Susanto

                                           X                                 X               X                                                                 X                 X
           Direktur Utama
          President Director

          Tedja Sukmana
             Hudianto
                                           X                                 X               X                                                                 X                 X
       Wakil Direktur Utama
       Vice President Director

            Soediarto
          Soerjoprahono
                                           X                                 X               X                                                                 X                 X
              Direktur
              Director

               Nico
             Gunawan
                                           X                  X              X               X              X                 X             X                                    X
              Direktur
              Director

            The, Hanny
             Purnomo
                                           X                  X              X               X              X                 X             X                  X
              Direktur
              Director




158                              Ikhtisar Utama                          Laporan Manajemen                         Profil Perusahaan                  Analisa & Pembahasan Manajemen
  5                                Highlights                            Management Report                         Company Profile                    Management Discussion & Analysis
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Laporan Tahunan 2024




  Kebijakan Keberagaman Komposisi Direksi dan Dewan Komisaris |
  Composition Diversity Policy of the Board of Directors & Board of Commissioners

  Perseroan yakin bahwa kebijakan keberagaman merupakan suatu hal                              The Company believes that diversity policy is a positive thing,
  yang positif, khususnya terkait proses pengambilan keputusan dalam                           particularly in relation to the decision-making process in the
  rangka pelaksanaan fungsi pengawasan dan juga operasional                                    implementation of supervisory functions as well as the Company’s
  perusahaan. Perseroan telah memiliki kebijakan keberagaman                                   operations. The company has a policy of diversity in
  Komposisi Dewan Komisaris dan Direksi yang dimuat dalam Piagam                               the composition of the Board of Commissioners and Directors
  Direksi dan Dewan Komisaris serta aturan tertulis.                                           included in the Charters of the Board of Directors and the Board
                                                                                               Commissioners and written rules.


  Perseroan memperhatikan aspek keberagaman terkait pendidikan,                                The Company observes the diversity aspect in regards to education,
  pengalaman kerja, usia, dan jenis kelamin dalam menentukan                                   professional experience, age and gender in determining the
  komposisi Dewan Komisaris dan Direksi. Namun tetap mem-                                      composition of the Board of Commissioners and Board of Directors.
  pertimbangkan kebutuhan Perusahaan sesuai dengan bidang usaha                                Nevertheless, it still considers the needs of the Company according to
  yang dijalankan.                                                                             its line of business.



 Nama                                           Jabatan                               Pendidikan                        Keahlian                     Jenis Kelamin   Usia
 Name                                           Position                               Education                        Expertise                       Gender       Age

                                                                Dewan Komisaris | Board of Commissioners
 Makmur Widjaja                     Komisaris Utama                     Magister Manajemen & MBA                       Keuangan & Manajemen              Laki-laki    64
                                    Komisaris Independen                Master of Management & MBA                     Finance & Management              Male
                                    President Commissioner
                                    Independent Commissioner
 Endang Fifi Susanto *               Komisaris                           Sarjana Perdagangan                            Manajemen                         Perempuan    54
                                    Commissioner                        Bachelor of Commerce                           Management                        Female
 Bing H. Poernomosidi               Komisaris Independen                Sarjana Ekonomi bidang Akuntansi               Keuangan                          Laki-laki    66
                                    Independent Commissioner            Bachelor of economic, majoring in              Finance                           Male
                                                                        accounting
 Welly Tantono                      Komisaris Independen                Doktor Yurisprudensi bidang hukum              Litigator, Manajemen & IT         Perempuan    49
                                    Independent Commissioner            JD in Law                                      Litigator, Management & IT        Female
                                                                        Sarjana bidang matematika
                                                                        BA in Mathematics
 Entario Widjaja Susanto ** Komisaris                                   Sarjana Teknik Mesin                           Manajemen, Mekanika & IT          Laki-laki    49
                                    Commissioner                        Bachelor of Mechanical Engineering             Management, Mechanics & IT        Male

  *) Sampai 28 Juni 2024 | Until 28 June 2024 **) Sejak 28 Juni 2024 | Since 28 June 2024




           Tata Kelola Perusahaan                 Tanggung Jawab Sosial Perusahaan                    Referensi                         Laporan Keuangan             159
           Corporate Governance                     Corporate Social Responsibility                  References                        Financial Statements            5
Page 168
                                                                                                                                2024 Annual Report




Nama                                     Jabatan                      Pendidikan                           Keahlian                    Jenis Kelamin               Usia
Name                                     Position                      Education                           Expertise                      Gender                   Age

                                                         Direksi | Board of Directors
Ibnu Susanto               Direktur Utama                SMA                                            Keuangan & Manajemen              Laki-laki                83
                           President Director            Senior High School                             Finance & Management              Male
Tedja Sukmana Hudianto     Wakil Direktur Utama          Sarjana bidang Komunikasi Elektronik           Keuangan, Pengadaan,              Laki-laki                61
                           Vice President Director       Bachelor of Science                            Manajemen dan Pemasaran           Male
                                                                                                        Finance, Procurement,
                                                                                                        Management and Marketing
Soediarto Soerjoprahono    Direktur                      SMA                                            Manajemen                         Laki-laki                79
                           Director                      Senior High School                             Management                        Male
Tikman Utomo *             Direktur                      Sarjana Teknik Mesin                           Operasional & Teknik              Laki-laki                79
                           Director                      Bachelor of Mechanical Engineering             Operations & Engineering          Male
The, Hanny Purnomo         Direktur                      Sarjana Teknik & Manajemen Industri            Teknologi Informatika             Laki-laki                58
                           Director                      Bachelor of Engineering and Industrial Information Technology                    Male
                                                         Management
Nico Gunawan **            Direktur                      Sarjana Teknik Mesin & Magister Manajemen Operasional & Teknik                   Laki-laki                42
                           Director                      Teknologi                                      Operations & Engineering          Male
                                                         Bachelor of Mechanical Engineering &
                                                         Master of Technology Management

*) Sampai 28 Juni 2024 | Until 28 June 2024 **) Sejak 28 Juni 2024 | Since 28 June 2024




Kebijakan Remunerasi | Remuneration Policy

 Rapat Umum Pemegang Saham Tahunan memberikan otoritas untuk                    The AGMS grants the authority to the Board of Commissioners to
 menentukan keseluruhan jumlah remunerasi setiap tahun kepada                   determine the total remuneration every year. The Board of
 Dewan Komisaris. Dewan Komisaris kemudian memerintahkan PT                     Commissioners then orders PT Cakra Bhakti Para Putra to propose a
 Cakra Bhakti Para Putra untuk mengusulkan paket remunerasi.                    remuneration package. Then, the Board of Commissioners act based
 Kemudian Dewan Komisaris, yang bertindak atas wewenang yang                    on the authority granted by the GMS,
 dilimpahkan oleh RUPS, menyetujui jumlah akhir tersebut.


 Nilai gaji dan tunjangan lain untuk Dewan Komisaris dan Direksi per            The rate of salary and other allowances for the Board of
 31 Desember 2024 sama dengan nilai tahun buku sebelumnya                       Commissioners and Board of Directors per 31st December 2024 has
 (tahun buku 2023) dengan kenaikan tidak melebihi 10%.                          not changed from the previous fiscal year (FY 2023) with an increase
                                                                                of no more than 10%.




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 Rapat Dewan Komisaris dan Direksi
 Meeting of the Board of Commissioners and the Board of Directors


  Rapat Dewan Komisaris | Meeting of the Board of Commissioners
  Dewan Komisaris secara berkala melaksanakan rapat baik internal            The Board of Commissioners periodically holds meetings both
  maupun rapat gabungan dengan Direksi guna melaksanakan                     internal and joint meetings with the Board of Directors in order to
  tugasnya dalam pengawasan. Rapat ini mengacu pada Anggaran                 carry out their supervisory duties. These meetings refer to the
  Dasar Perusahaan dan POJK No. 33/POJK.04/2014 dengan                       Company’s Articles of Association and POJK No. 33/POJK.04/2014 at
  pelaksanaan paling sedikit 1 kali dalam 2 bulan.                           least 1 (one) time in 2 (two) months.


  Pada saat Rapat, Komisaris Utama akan memimpin. Namun jika                 At the Meeting, the President Commissioner will chair the meeting.
  Komisaris Utama berhalangan hadir, maka Komisaris lainnya yang             But in the event of the President Commissioner is unable to attend,
  ditunjuk oleh Komisaris Utama dapat menggantikan. Jika ada yang            then the President Commissioner appoints another member of the
  berhalangan hadir, seorang anggota Dewan Komisaris dapat                   Board of Commissioners to chair in his stead. If anyone is unable to
  menggantikan atau mewakili Komisaris yang berhalangan tersebut.            attend, a member of the Board of Commissioners can replace or
                                                                             represent him.



      Tingkat Kehadiran Rapat Dewan Komisaris [2024] | The Level of Attendance of the Board of Commissioners’ meetings [2024]

  Nama                                Jabatan                                 Jumlah Rapat          Jumlah Kehadiran       Persentase Kehadiran
  Name                                Position                                Total Meeting          Total Attendance     Percentage of Attendance

  Makmur Widjaja                   Komisaris Utama                                   6                     6                            100%
                                   Komisaris Independen
                                   President Commissioner
                                   Independent Commissioner
  Endang Fifi Susanto *             Komisaris                                         3                     2                            67%
                                   Commissioner
  Bing H. Poernomosidi             Komisaris                                         6                     6                            100%
                                   Commissioner
  Welly Tantono                    Komisaris Independen                              6                     6                            100%
                                   Independent Commissioner
  Entario Widjaja Susanto **       Komisaris                                         3                     2                            67%
                                   Commissioner

  *) Sampai 28 Juni 2024 | Until 28 June 2024 **) Sejak 28 Juni 2024 | Since 28 June 2024




  Agenda Rapat Dewan Komisaris | Meeting Agenda of the Board of Commissioners
  Pada Agenda Rapat, beberapa pembahasan utama meliputi:                     At the Meeting Agenda, several main discussions comprises:
  1. Tindak lanjut Keputusan RUPS Tahun Buku 2023;                           1. Follow ups on the Decision of GMS FY 2023;
  2. Evaluasi strategi dan kinerja perusahaan;                               2. Evaluation of the strategies and the performance of the Company;
  3. Pembahasan dan update isu-isu tata kelola perusahaan dan isu-           3. Discussion and Update on corporate governance issues and other
     isu strategi lainnya;                                                      strategic issues;
  4. Melakukan diskusi tentang persetujuan proposal investasi.               4. Discussion on the approval of investment proposal.




          Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan          Referensi                      Laporan Keuangan             161
          Corporate Governance             Corporate Social Responsibility        References                     Financial Statements            5
Page 170
                                                                                                                              2024 Annual Report



Rapat Direksi | Meeting of the Board of Directors
 Rapat Direksi dilakukan dengan mengacu pada Anggaran Dasar                       Meeting of the Board of Directors is conducted by referring to The
 Perusahaan dan juga POJK No. 33/POJK.04/2014. Setiap rapat                       Company’s Articles of Association and POJK No. 33/POJK.04/2014.
 diwajibkan untuk dibuat risalah rapat yang ditandatangani oleh Ketua             Every meeting is required to have the minutes of the meeting signed
 Rapat dan seluruh anggota Direksi yang hadir. Risalah ini berisi hal-            by the Chairperson of the Meeting and all members of the Board of
 hal yang didiskusikan dan diputuskan dalam rapat.                                Directors present. These minutes contain matters which were
                                                                                  discussed and decided at the meeting.


 Rapat Direksi dilangsungkan paling sedikit 1 kali setiap bulan. Namun            The Board of Directors Meeting is held at least 1 (one) time every
 jika dipandang perlu, Direksi dapat mengadakan rapat kapanpun                    month. However, if deemed necessary, the Board of Directors can
 sesuai kebutuhan. Ini dilakukan apabila:                                         hold meetings whenever needed, when:
 Ÿ Dipandang perlu oleh seorang atau lebih anggota Direksi;                       Ÿ Deemed necessary by one or more members the Board of
 Ÿ Atas permintaan tertulis dari seorang atau lebih anggota Dewan                   Directors;
      Komisaris; atau                                                             Ÿ At the written request of one or more members of the Board of
 Ÿ Atas permintaan tertulis dari 1 orang atau lebih Pemegang Saham                  Commissioners; or
      yang bersama-sama mewakili 1/10 atau lebih dari jumlah seluruh              Ÿ Upon written request from 1 (one) or more Shareholders who
      Pemegang Saham dengan hak suara.                                              jointly represent 1/10 (one-tenth) or more from the total
                                                                                    Shareholders with voting rights.


 Rapat Direksi dianggap sah jika:                                                 The Board of Directors meeting is considered valid if:
 Ÿ Diadakan di tempat kedudukan Perseroan atau tempat lain di                     Ÿ Held at the domicile of the Company or other places within the
      dalam wilayah Republik Indonesia.                                             territory of the Republic of Indonesia.
 Ÿ Dihadiri oleh lebih dari ½ jumlah anggota Direksi atau wakilnya                Ÿ Attended by more than ½ (one half) of the total members of the
      yang sah.                                                                     Board of Directors or his authorized representative.


 Panggilan atau undangan Rapat Direksi dilakukan secara tertulis oleh             Summons or invitations of the Board of Directors’ Meetings must be
 anggota Direksi yang berhak mewakili Perseroan dan disampaikan                   issued in writing by members of the Board of Directors who are
 dalam jangka waktu paling lambat 5 hari sebelum rapat diadakan                   entitled to represent the Company and to be delivered no more than 5
 atau dalam waktu yang lebih singkat jika dalam keadaan mendesak.                 (five) days before the meeting is held or in a shorter time if in an urgent
                                                                                  situation.



                  Tingkat Kehadiran Rapat Direksi [2024] | The Level of Attendance of the Board of Director’ Meetings [2024]

Nama                                       Jabatan                                 Jumlah Rapat           Jumlah Kehadiran       Persentase Kehadiran
Name                                       Position                                Total Meeting           Total Attendance     Percentage of Attendance

 Ibnu Susanto                            Direktur Utama                                  12                         12                              100%
                                         President Director
 Tedja Sukmana Hudianto                  Wakil Direktur Utama                            12                         12                              100%
                                         Vice President Director
 Soediarto Soerjoprahono                 Direktur                                        12                         6                                50%
                                         Director
 Tikman Utomo *                          Direktur                                         6                         4                                67%
                                         Director
 The, Hanny Purnomo                      Direktur                                        12                         12                              100%
                                         Director
 Nico Gunawan **                         Direktur                                         6                         6                               100%
                                         Director

 *) Sampai 28 Juni 2024 | Until 28 June 2024 **) Sejak 28 Juni 2024 | Since 28 June 2024



162                     Ikhtisar Utama                        Laporan Manajemen                  Profil Perusahaan             Analisa & Pembahasan Manajemen
  5                       Highlights                          Management Report                  Company Profile               Management Discussion & Analysis
Page 171
Laporan Tahunan 2024



  Agenda Rapat Direksi | Meeting Agenda of the Board of Directors
  Pada Agenda Rapat, beberapa pembahasan utama meliputi:                        At the Meeting Agenda, several main discussions comprises:
  1. Ringkasan analisis industri terkait peluang dan tantangan saat ini         1. Summary of industrial analysis relating to the current and future
      hingga ke depannya;                                                           opportunities and challenges;
  2. Strategi pencapaian target dan penerapannya;                               2. Strategy for achieving targets and their implementation;
  3. Pembahasan risiko mencakup analisis dampak & usulan mitigasi;              3. Discussion of risks including the impact analysis & mitigation proposal;
  4. Diskusi tentang perekonomian di Indonesia dan global, serta                4. Discussion of Indonesian and global economy, and its impact on
      dampaknya pada perusahaan;                                                    the Company;
  5. Pembagian tanggung jawab atas rencana kerja dan penentuan                  5. Distribution of responsibilities for work plans and determination
      kurun waktu penyelesaiannya.                                                  of the time frame for completion.


  Rapat Gabungan | Joint Meeting
  Sesuai dengan POJK No. 33/POJK.04/2014, dinyatakan bahwa                      In accordance with POJK No. 33/POJK.04/2014, which stated that the
  Direksi wajib mengadakan rapat bersama Dewan Komisaris secara                 Board of Directors must hold a meeting with the Board of
  berkala paling kurang 1 kali dalam 4 bulan (3 kali dalam 1 tahun),            Commissioners periodically at least 1 time in 4 (four) months (3 times
  begitu pula sebaliknya. Rapat gabungan dihadiri oleh Direksi dan              a year), and vice versa. The joint meeting is attended by the Board of
  Dewan Komisaris atas undangan Direksi untuk membahas berbagai                 Directors and Board of Commissioners at the invitation of the Board of
  topik kinerja operasional dan keuangan Perseroan, serta melakukan             Directors to discuss various topics on operational and financial
  evaluasi secara berkala. Selama 2024, Rapat Kinerja dilaksanakan              performances of the Company and to conduct a periodic evaluation.
  sebanyak 6 (enam) kali, dengan tingkat kehadiran sebagai berikut:             In 2024, the Performance Meeting was held 6 (six) times, with the
                                                                                following level of attendance:


  Nama                                                          Jabatan             Jumlah Rapat       Jumlah Kehadiran   Persentase Kehadiran
  Name                                                          Position            Total Meeting       Total Attendance Percentage of Attendance

  Makmur Widjaja                    Komisaris Utama
                                    Komisaris Independen
                                    President Commissioner                                  6                    6                            100%
                                    Independent Commissioner
  Endang Fifi Susanto *              Komisaris                                               3                    2                            67%
                                    Commissioner
  Bing H. Poernomosidi              Komisaris Independen                                    6                    6                            100%
                                    Independent Commissioner
  Welly Tantono                     Komisaris Independen                                    6                    6                            100%
                                    Independent Commissioner
  Entario Widjaja Susanto ** Komisaris                                                      3                    2                            67%
                                    Commissioner
  Ibnu Susanto                      Direktur Utama                                          6                    6                            100%
                                    President Director
  Tedja Sukmana Hudianto            Wakil Direktur Utama                                    6                    6                            100%
                                    Vice President Director
  Soediarto Soerjoprahono           Direktur                                                6                    3                            50%
                                    Director
  Tikman Utomo *                    Direktur                                                3                    2                            67%
                                    Director
  The, Hanny Purnomo                Direktur                                                6                    6                            100%
                                    Director
  Nico Gunawan **                   Direktur                                                3                    3                            100%
                                    Director
  *) Sampai 28 Juni 2024 | Until 29 June 2024 **) Sejak 28 Juni 2024 | Since 28 June 2024
           Tata Kelola Perusahaan          Tanggung Jawab Sosial Perusahaan            Referensi                        Laporan Keuangan                163
           Corporate Governance              Corporate Social Responsibility          References                       Financial Statements               5
Page 172
                                                                                                                           2024 Annual Report




Agenda Rapat Gabungan | Joint Meeting Agenda
 Pada Agenda Rapat, beberapa pembahasan utama meliputi :                 At the Meeting Agenda, several main discussions comprises :
 1. Laporan Kinerja Manajemen berkala;                                   1. Periodic Report of Management Performance;
 2. Evaluasi target dan strategi penerapannya;                           2. Evaluation of targets and their implementation strategies;
 3. Observasi penerapan Tata Kelola di perusahaan.                       3. Observation of the implementation of Corporate Governance.




Organ Penunjang Dewan Komisaris
Supporting Organ of the Board of Commissioners


 Dewan Komisaris dalam melaksanakan tugasnya membentuk                   In carrying out its duties, the Board of Commissioners established a
 Komite Penunjang yakni Komite Audit. Komite Penunjang Dewan             Supporting Committee which is Audit Committee. The Supporting
 Komisaris diketuai oleh anggota Dewan Komisaris, dan tugas serta        Committee of the Board of Commissioners is chaired by a member of
 tanggung jawab masing-masing Komite tercantum dalam masing-             the Board of Commissioners, and the duties and responsibilities of
 masing pedoman kerja (charter). Adapun dasar hukum pembentukan          each Committee are listed in their respective work guidelines
 organ penunjang Dewan Komisaris mengacu pada:                           (charter). The legal basis which is the establishment of the Board of
 1.   Surat Edaran Otoritas Jasa Keuangan Nomor 32/SEOJK.04/ 2015        Commissioners’ supporting organs refers to:
      tentang Pedoman Tata Kelola Perusahaan Terbuka.                    1. Circular Letter of Financial Services Authority Number
 2.   Peraturan Otoritas Jasa Keuangan Nomor 55/POJK.04/ 2015                 32/SEOJK.04/2015 concerning the Code of Corporate
      tentang Pembentukan dan Pedoman Pelaksanaan Kerja Komite                Governance for Public Companies.
      Audit.                                                             2. F i n a n c i a l S e r v i c e s A u t h o r i t y R e g u l a t i o n N u m b e r
 3.   Anggaran Dasar Perseroan.                                               55/POJK.04/2015 concerning Guidelines on Establishment and
                                                                              Working Implementations of Audit Committee.
                                                                         3. The Articles of Association.


 Anggota Komite Penunjang Dewan Komisaris diberikan kebebasan            Members of the Board of Commissioners’ supporting organs are
 seluas-luasnya untuk menyampaikan pendapatnya secara                    granted as much freedom to convey their opinion independently and
 independen dan profesional. Keputusan diambil secara musyawarah         professionally. Decisions are made by deliberation and consensus
 dan mufakat dan dituangkan dalam Risalah Rapat yang                     and recorded in the Minutes of Meeting signed by all members of the
 ditandatangani oleh seluruh anggota Komite yang hadir dan               Committee present and acknowledged by the Chairman of the
 diketahui oleh Ketua Komite.                                            Committee.


 Komite wajib membuat laporan berkala kepada Dewan Komisaris dan         The Committee is obliged to prepare periodic reports to the Board of
 pada setiap triwulan memberikan rekomendasi perbaikan atas              Commissioners and every quarter to give recommendations for the
 pengawasan yang dilakukan.                                              improvement of the supervision duties that have been carried out.




164                   Ikhtisar Utama                 Laporan Manajemen                   Profil Perusahaan                  Analisa & Pembahasan Manajemen
  5                     Highlights                   Management Report                   Company Profile                    Management Discussion & Analysis
Page 173
Laporan Tahunan 2024




  Komite Audit
  Audit Committee


  Dewan Komisaris Perseroan membentuk Komite Audit berdasarkan             The Board of Commissioners established Audit Committee based on
  Surat Keputusan Dewan Komisaris No. 006/II/KOM-ISSP/2018                 the Board of Commissioners’ Decree No. 006/II/KOM-ISSP/2018
  tanggal 19 Februari 2018 tentang pengangkatan anggota Komite             dated February 19, 2018 concerning the appointment of the Audit
  Audit PT Steel Pipe Industry of Indonesia Tbk. Pembentukan Komite        Committee Members of PT. Steel Pipe Industry of Indonesia Tbk. The
  Audit merupakan bagian yang tidak terpisahkan dari upaya SPINDO          establishment of the Audit Committee is an integral part of SPINDO
  untuk memastikan efektivitas sistem pengendalian internal dan            efforts to ensure the effectiveness of the internal control system and
  pelaksanaan prinsip tata kelola perusahaan yang baik, yaitu              the implementation of GCG principles namely transparency,
  transparansi, akuntabilitas, pertanggungjawaban, independensi,           accountability, responsibility, independence, equality, and fairness.
  kesetaraan, dan kewajaran.


  Komite Audit menjalankan tugas berdasarkan mandat yang                   The Audit Committee carries out its duties based on the mandate
  ditetapkan dengan Keputusan Dewan Komisaris. Tugas utama                 assigned by the Decree of the Board of Commissioners. The main task
  Komite Audit adalah memberikan pendapat independen dan                   of the Audit Committee is to provide an independent and professional
  profesional kepada Dewan Komisaris berkenaan dengan kegiatan             opinion to the Board of Commissioners with regards to the
  kepatuhan, efektivitas pelaksanaan tata kelola perusahaan, audit         compliance and effectiveness of corporate governance
  internal, audit eksternal, dan pelaporan keuangan Perseroan. Komite      implementation, internal audit, external audit, and the Company’s
  ini bertanggung jawab langsung kepada Dewan Komisaris yang               financial reporting. This committee reports directly to the Board of
  bekerja secara independen.                                               Commissioners who works independently.



  Dasar Hukum | Legal Basis
  Dasar hukum yang menjadi acuan penunjukan Komite Audit SPINDO            Legal basis that are applied as references in the appointment of
  antara lain:                                                             SPINDO’s Board of Commissioners, namely:
  1. Undang-Undang Nomor 8 tahun 1995, tentang Pasar Modal;                1. Law No. 8 of 1995 concerning Capital Market;
  2. Undang-Undang Nomor 40 tahun 2007, tentang Perseroan                  2. Law No. 40 of 2007 concerning Limited Liability Company;
     Terbatas;                                                             3. Regulation Number V.A.2 concerning the Independence
  3. Peraturan Nomor V.A.2 tentang Independensi Yang Memberikan               Providing Services in Capital Market, Attachment of Decision of
     Jasa Di Pasar Modal, Lampiran Keputusan Ketua Bapepam-LK                 the Chairman of Bapepam-LK Number: Kep-86/BL/2011 dated
     Nomor: Kep-86/BL/2011 tanggal 28 Februari 2011;                          February 28, 2011;
  4. Peraturan Otoritas Jasa Keuangan No. 55/POJK.04/2015 tentang          4. Financial Services Authority Regulation No. 55/POJK.04/2015
     Pembentukkan Komite Audit;                                               concerning Guidelines on Establishment and Working
  5. Surat Edaran Otoritas Jasa Keuangan No. 21/POJK.04/2014                  Implementations of Audit Committee;
     tentang Penerapan Pedoman Tata Kelola Perusahaan Terbuka;             5. The Circular Letter of the Financial Services Authority No.
  6. Ketentuan-ketentuan Anggaran Dasar Perseroan mengenai                    21/POJK.04/2014 concerning the Implementation of Corporate
     tugas dan wewenang Dewan Komisaris;                                      Governance of Public Companies;
  7. Keputusan Dewan Komisaris No.01/VI/Kom-ISSP/2013 tanggal              6. Provisions of the Article of Association on duties and authorities
     26 Juni 2013 tentang pengangkatan anggota Komite Audit PT                of the Board of Commissioners;
     Steel Pipe Industry of Indonesia Tbk.                                 7. Board of Commissioner’s Decree No.01/VI/Kom-ISSP/2013
                                                                              dated June 26, 2013 concerning the appointment of Audit
                                                                              Committee Members of PT Steel Pipe Industry of Indonesia Tbk.




           Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan          Referensi                      Laporan Keuangan              165
           Corporate Governance          Corporate Social Responsibility        References                     Financial Statements             5
Page 174
                                                                                                                              2024 Annual Report



Susunan Anggota Komite Audit | Composition of Audit Committee Members
 Komposisi Komite Audit terdiri dari 3 (tiga) orang anggota yang                 The composition of the Audit Committee consists of 3 (three)
 memiliki pengetahuan dan pengalaman di bidang audit, akuntansi,                 members who have the knowledge and experience in auditing,
 keuangan, dan tata kelola yang baik. Profil Komite Audit dapat dilihat           accounting, finance, and good governance. Profile of the Audit
 berikut:                                                                        Committee can be viewed on the following page:



Nama                                    Jabatan                                      Periode Jabatan                                  Keterangan
Name                                    Position                                          Tenure                                      Information

 Welly Tantono                          Ketua Komite Audit                              2022 - 2027                           Komisaris Independen
                                        Chairman of Audit Committee                                                        Independent Commissioner
 Antonius Karamoy                       Anggota Komite Audit                            2022 - 2027                                 Pihak Independen
                                        Member of Audit Committee                                                              Independent Parties
 Yoshinori Nishimoto                    Anggota Komite Audit                            2024 - 2027                                 Pihak Independen
                                        Member of Audit Committee                                                              Independent Parties


Profil Komite Audit | Audit Committee Profile


                                                        Welly Tantono
                                                        Komisaris Independen         Independent Commissioner
                                                        Komite Audit                 Audit Committee

                                                        Kewarganegaraan | Nationality                 Amerika Serikat | United States of America
                                                        Usia | Age                                    49 tahun per 31 Desember 2024
                                                                                                      49 years old as of 31 December 2024
                                                        Domisili | Domicile                           Singapore




                                                             Diangkat sebagai Ketua Komite Audit sejak tahun 2022, berdasarkan keputusan
                                                             Dewan Komisaris Perseroan pada tanggal 8 November 2022. Beliau merangkap
                                                             sebagai Komisaris Independen Perseroan. Detail lebih lanjut tentang profil beliau dapat
                                                             dilihat pada Profil Dewan Komisaris, bab II halaman 22 Laporan Tahunan ini.
                                                             Appointed as Chair of the Audit Committee since 2022, based on the resolution of the
                                                             Company's Board of Commissioners on November 8st, 2022. She also serves as the
                                                             Company's Independent Commissioner. Further details about her profile can be found at
                                                             the Board of Commissioners profile, chapter II, page 22 of this Annual Report.




                                                               Antonius Karamoy
                                                               Anggota Komite Audit | Member of Audit Committee
                                                               Kewarganegaraan | Nationality                Indonesia | Indonesia
                                                               Usia | Age                                   67 tahun per 31 Desember 2024
                                                                                                            67 years old as of 31 December 2024
                                                               Domisili | Domicile                          Jakarta




166                    Ikhtisar Utama                    Laporan Manajemen                     Profil Perusahaan               Analisa & Pembahasan Manajemen
  5                      Highlights                      Management Report                     Company Profile                 Management Discussion & Analysis
Page 175
Laporan Tahunan 2024




  Dasar Hukum Pengangkatan          Diangkat sebagai Anggota Komite Audit sejak tahun 2022, berdasarkan keputusan Dewan Komisaris
  Legal Basis of Appoinment         Perseroan pada tanggal 8 November 2022.
                                    Appointed as Member of the Audit Committee since 2022, based on the resolution of the Company's Board
                                    of Commissioners on November 8th, 2022.


  Riwayat Pekerjaan                 Ÿ   Anggota Komite Audit, PT Steel Pipe Industry of Indonesia Tbk (2022 – sekarang)
  Work Experience                   Ÿ Chief Audit Executive PT Alam Sutra Realty Tbk (2012 – 2017)
                                    Ÿ Business and Audit Supervisor Chartered Accountant Firms in Sydney, Australia (1999–2011)
                                    Ÿ Chief Financial Officer PT Putra Alvita Pratama (1995–1998)
                                    Ÿ Direktur Keuangan PT Modernland Realty Tbk (1992–1994)
                                    Ÿ Direktur Keuangan PT Honoris Industry (1988 – 1992)
                                    Ÿ Internal Audit Supervisor PT Arya Upaya Corporation (1985 – 1987)
                                    Ÿ Senior Auditor Drs. Utomo & Co (Arthur Andersen) (1979–1985)


                                    Ÿ   Member of the Committee Audit, PT Steel Pipe Industry of Indonesia Tbk (2022 – current)
                                    Ÿ Chief Audit Executive, PT Alam Sutra Realty Tbk (2012 – 2017)
                                    Ÿ Business and Audit Supervisor, Chartered Accountant Firms in Sydney, Australia (1999–2011)
                                    Ÿ Chief Financial Officer, PT Putra Alvita Pratama (1995–1998)
                                    Ÿ Director of Finance, PT Modernland Realty Tbk (1992–1994)
                                    Ÿ Director of Finance, PT Honoris Industry (1988 – 1992)
                                    Ÿ Internal Audit Supervisor, PT Arya Upaya Corporation (1985 – 1987)
                                    Ÿ Senior Auditor, Drs. Utomo & Co (Arthur Andersen) (1979–1985)


  Rangkap Jabatan                   Ÿ Anggota Komite Audit PT Wintermar Offshore Tbk (2021 – sekarang)
  Concurrent Positions              Ÿ Chief Financial Officer (CFO) Yayasan Tangan Pengharapan (2019 – sekarang)
                                    Ÿ Audit Committee, PT Wintermar Offshore Tbk (2021 – current)
                                    Ÿ Chief Financial Officer (CFO) Yayasan Tangan Pengharapan (2019 – current)


  Afiliasi Profesional               Ÿ Anggota senior (fellow) CPA Australia
  Professional Afiliation            Ÿ   Anggota Institut Akuntan Publik Indonesia (IAPI)
                                    Ÿ Anggota The Institute of Internal Auditors Indonesia (IIA Indonesia)
                                    Ÿ Senior Member (fellow) CPA Australia
                                    Ÿ Member of Institut Akuntan Publik Indonesia (IAPI)
                                    Ÿ Member of The Institute of Internal Auditors Indonesia (IIA Indonesia)


  Riwayat Pendidikan                Ÿ Master of Commerce-Professional Accounting, Macquarie University, Sydney, Australia (2005)
  Educational Background            Ÿ   Magister Manajemen-Jurusan Keuangan, Institut Bisnis Indonesia (Kwik Kian Gie Business School),
                                        Jakarta, Indonesia (1997)
                                    Ÿ   Master of Business Administration, Pamantasan ng Lungsod ng Maynila, Manila (1993)
                                    Ÿ Master of Commerce-Professional Accounting, Macquarie University, Sydney, Australia (2005)
                                    Ÿ Master’s Degree in Management - Finance Major, Institut Bisnis Indonesia (Kwik Kian Gie Business
                                        School), Jakarta, Indonesia (1997)
                                    Ÿ Master of Business Administration, Pamantasan ng Lungsod ng Maynila, Manila (1993)


  Hubungan Afiliasi                  Tidak memiliki afiliasi dengan sesama anggota Direksi, atau anggota Dewan Komisaris, atau dengan
  Affiliate Relations                pemegang saham utama.
                                    Does not have any affiliations with fellow members of the Board of Directors, or members of the Board of
                                    Commissioners, nor with the ultimate shareholder.


  Jumlah Kepemilikan Saham ISSP     -
  Total ISSP Share Ownership




           Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan         Referensi                    Laporan Keuangan          167
           Corporate Governance             Corporate Social Responsibility       References                   Financial Statements         5
Page 176
                                                                                                                       2024 Annual Report




                                                         Yoshinori Nishimoto
                                                         Anggota Komite Audit | Member of Audit Committee
                                                         Kewarganegaraan | Nationality                Jepang | Japan
                                                         Usia | Age                                   50 tahun per 31 Desember 2024
                                                                                                      50 years old as of 31 December 2024
                                                         Domisili | Domicile                          Jakarta




 Dasar Hukum Pengangkatan                Diangkat sebagai Anggota Komite Audit sejak tahun 2024, berdasarkan keputusan Dewan
 Legal Basis of Appointment              Komisaris Perseroan pada bulan December 2024.
                                         Appointed as Member of the Audit Committee since 2024, based on the resolution of the
                                         Company's Board of Commissioners in December 2024.


 Riwayat Pekerjaan                       Ÿ Anggota Komite Audit, PT Steel Pipe Industry of Indonesia Tbk (2024 – sekarang)
 Work Experience                         Ÿ Sales Supervisor, Pabrik Karawang, PT Steel Pipe Industry of Indonesia Tbk (2007 – 2020)
                                         Ÿ Chief of Foreign Division, PT Shigeta Animal Pharmaceuticals (2005 – 2007)
                                         Ÿ Member of the Committee Audit, PT Steel Pipe Industry of Indonesia Tbk (2024 – current)
                                         Ÿ Sales Supervisor, Karawang Factory, PT Steel Pipe Industry of Indonesia Tbk (2007 – 2020)
                                         Ÿ Chief of Foreign Division, PT Shigeta Animal Pharmaceuticals (2005 – 2007)


 Rangkap Jabatan                         -
 Concurrent Positions


 Riwayat Pendidikan                      Sarjana hukum dari Universitas Waseda, Tokyo, Jepang (2001)
 Educational Background                  Bachelor of Law, Waseda University, Tokyo, Japan. (2001)


 Hubungan Afiliasi                        Tidak memiliki afiliasi dengan sesama anggota Direksi, atau anggota Dewan Komisaris, atau dengan
 Affiliate Relations                      pemegang saham utama.
                                         Does not have any affiliations with fellow members of the Board of Directors, or members of the
                                         Board of Commissioners, nor with the ultimate shareholder.


 Jumlah Kepemilikan Saham ISSP           -
 Share Ownership in ISSP




168                     Ikhtisar Utama              Laporan Manajemen                    Profil Perusahaan              Analisa & Pembahasan Manajemen
  5                       Highlights                Management Report                    Company Profile                Management Discussion & Analysis
Page 177
Laporan Tahunan 2024




  Independensi Komite Audit | Independence of Audit Committee

  Komite ini bersifat independen dan keseluruhan anggotanya                    This committee is independent and the overall members are
  merupakan pihak independen yang berasal dari eksternal                       independent parties coming from external companies and have the
  perusahaan dan memiliki komitmen serta integritas yang tinggi, latar         commitment as well high integrity, background and competence of
  belakang dan kemampuan para anggota Komite Audit yang memiliki               the members of Audit Committee who have the aptitude and
  kemampuan dan keahlian sesuai bidang pekerjaannya.                           expertise according to their work field.




                                          Pernyataan tentang Independensi Komite Audit
                                       Statement on the Independence of the Audit Committee
                            Aspek Independensi                                Welly Tantono          Antonius Karamoy              Yoshinori Nishimoto
                           Independence Aspect

  Tidak memiliki hubungan keuangan dengan Dewan Komisaris dan
  Direksi.                                                                         ü                          ü                            ü
  Having no financial relationship with the Board of Commissioners
  and the Board of Directors.


  Tidak memiliki hubungan kepengurusan di Perseroan, maupun                        ü                          ü                            ü
  perusahaan afiliasi.
  Having no management relationship in the Company, nor affiliated
  companies.


  Tidak memiliki hubungan kepemilikan saham Perusahaan.                            ü                          ü                            ü
  Having no share ownership relationship in the Company.


  Tidak memiliki hubungan keluarga dengan Dewan Komisaris,                         ü                          ü                            ü
  Direksi dan/atau sesama anggota Komite Audit.
  Having no family relationship with the Board of Commissioners,
  Board of Directors and/or other members of the Audit Committee.


  Tidak menjabat sebagai pengurus partai politik, pejabat                          ü                          ü                            ü
  pemerintah daerah.
  Not serving as a political party official, a local government official.




  Tugas dan Tanggung Jawab Komite Audit | Duties and Responsibilities of Audit Committee
  Komite Audit memiliki tugas dan tanggung jawab antara lain sebagai           The Audit Committee has the following duties and responsibilities:
  berikut:                                                                     1. Review the Company’s financial information issued by SPINDO
  1. Melakukan penelaahan atas informasi keuangan yang akan                        to the public and/or to the authority namely financial statements,
      dikeluarkan SPINDO kepada publik dan/atau pihak otoritas                     projections, other reports in relation to SPINDO’s financial
      antara lain laporan keuangan, proyeksi, dan laporan lainnya                  information;
      terkait dengan informasi keuangan SPINDO;



             Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan           Referensi                     Laporan Keuangan               169
             Corporate Governance           Corporate Social Responsibility         References                    Financial Statements              5
Page 178
                                                                                                                      2024 Annual Report




 2. Melakukan penelaahan atas ketaatan terhadap peraturan               2. Review the Company’s compliance with the laws and regulations
      perundang-undangan yang berhubungan dengan kegiatan                   in connection to SPINDO’s activities;
      SPINDO;                                                           3. Provide independent opinion in the event of a difference of
 3. Memberikan pendapat independen dalam hal terjadi perbedaan              opinions between management and Accountant on the services
      pendapat antara manajemen dan Akuntan atas jasa yang                  it delivers;
      diberikannya;                                                     4. Provide recommendation to the Board of Commissioners on the
 4. Memberikan rekomendasi kepada Dewan Komisaris mengenai                  appointment of Accountant based on independence, the scope of
      penunjukan Akuntan yang didasarkan pada independensi, ruang           duties, and fee;
      lingkup penugasan, dan fee;                                       5. Review on the execution of examination by the internal auditor
 5. Melakukan penelaahan atas pelaksanaan pemeriksaan oleh                  and supervise the follow-up actions by the Board of Directors
      auditor internal dan mengawasi pelaksanaan tindak lanjut oleh         over the discovery by the internal auditor;
      Direksi atas temuan auditor internal;                             6. Review the implementation of risk management by the Board of
 6. Melakukan penelaahan terhadap aktivitas pelaksanaan                     Directors, if SPINDO does not have risk monitoring function
      manajemen risiko yang dilakukan oleh Direksi, jika SPINDO tidak       under the Board of Commissioners;
      memiliki fungsi pemantau risiko di bawah Dewan Komisaris;         7. Review complaints in relation to SPINDO’s accounting process
 7. Menelaah pengaduan yang berkaitan dengan proses akuntansi               and financial reporting;
      dan pelaporan keuangan SPINDO;                                    8. Review and provide suggestions to the Board of Commissioners
 8. Menelaah dan memberikan saran kepada Dewan Komisaris                    related to the potential of conflict of interest of SPINDO; and
      terkait dengan adanya potensi benturan kepentingan SPINDO;        9. Maintain the confidentiality of SPINDO’s documents, data, and
      dan                                                                   information.
 9. Menjaga kerahasiaan dokumen, data, dan informasi SPINDO.



 Wewenang Komite Audit | Authorities of Audit Committee
 Komite Audit mempunyai wewenang sebagai berikut:                       The authorities of the Audit Committee are as follows:
 1. Mengakses dokumen, data, dan informasi SPINDO tentang               1. Access SPINDO’s documents, data, and information regarding
      karyawan, dana, aset, dan sumber daya perusahaan yang                 employees, funds, assets, and other resources of the Company if
      diperlukan;                                                           needed;
 2. Berkomunikasi langsung dengan karyawan, termasuk Direksi            2. Establish direct communication with employees including the
      dan pihak yang menjalankan fungsi Audit Internal, Manajemen           Directors and party that performs internal audit function, Risk
      Risiko dan Akuntan terkait tugas dan tanggung jawab Komite            Management and Accountant in relation to the duties and
      Audit;                                                                responsibilities of Audit Committee;
 3. Melibatkan pihak independen di luar anggota Komite Audit yang       3. Involve independent party outside of the Audit Committee
      diperlukan untuk membantu pelaksanaan tugasnya ( jika                 members needed to assist in performing its duties (if needed);
      diperlukan); dan                                                      and
 4. Melakukan kewenangan lain yang diberikan oleh Dewan                 4. Pe r fo r m o t h e r a u t h o r i t i e s g ra n t e d by t h e B o a rd o f
      Komisaris.                                                            Commissioners.



Piagam Komite Audit | Audit Committee Charter
 Organisasi, keanggotaan, tanggung jawab, wewenang, dan                 Organization, membership, accountability, authority, and reporting of
 pelaporan Komite Audit dijabarkan dalam Piagam Komite Audit.           Audit Committee are stated in the Audit Committee Charter. The
 Piagam Komite Audit dapat dilihat pada situs Perusahaan di:            Audit Committee Charter can be viewed in the Company’s website:
 https://www.spindo.com/komite-audit                                    https://www.spindo.com/komite-audit




170                      Ikhtisar Utama             Laporan Manajemen                  Profil Perusahaan                Analisa & Pembahasan Manajemen
  5                        Highlights               Management Report                  Company Profile                  Management Discussion & Analysis
Page 179
Laporan Tahunan 2024




  Pelaksanaan Kegiatan Komite Audit 2024 | Implementation of Audit Committee’s Activities in 2024
  Komite Audit membantu Dewan Komisaris melaksanakan fungsi                  The Audit Committee assists the Board of Commissioners to perform
  pengawasan dan pemberian nasihat yang diaplikasikan dalam                  supervisory and advisory functions applied in the form of periodic
  bentuk rapat berkala, sekurang kurangnya sekali dalam sebulan.             meetings, at least once a month. Audit Committee also holds periodic
  Komite Audit juga mengadakan rapat periodik dengan auditor                 meetings with the internal auditor at least once in each quarter and
  internal sekurang-kurangnya sekali dalam tiap triwulan dan rapat           meeting with the external auditor at least twice during the audit
  dengan auditor eksternal sekurang-kurangnya dua kali selama                period or according to the needs.
  periode audit atau lebih disesuaikan dengan kebutuhan.


                             Kegiatan                                                Target               Realization                    %
                              Activity                                               Target                Realisasi

  Rapat Kinerja                                                                         2                        2                      100%
  Performance Meeting


  Rapat Strategis                                                                       2                        2                      100%
  Strategic Meeting


  Rapat Komite                                                                          2                        2                      100%
  Committee Meeting


  Meninjau Laporan Keuangan 2022                                                        1                        1                      100%
  Reviewing the 2022 Financial Statements


  Menyiapkan Draft Surat Dewan Komisaris                                                1                        1                      100%
  Preparing the Board of Commissioners Letter Draft


  Rapat Koordinasi dengan Auditor Internal                                              2                        2                      100%
  Coordination Meeting with Internal Auditor


  Rapat Koordinasi dengan KAP                                                           1                        1                      100%
  Coordination Meeting with KAP


  Rapat Kerja Pengawasan dengan Manajemen Operasi                                       2                        2                      100%
  Supervision Working Meeting with Operation Management


  Kunjungan Operasional*                                                                2                        2                      100%
  Operation Visit*




  Rapat Komite Audit | Meetings of Audit Committee
  Pada tahun 2024, Komite Audit melalui penyelenggaraan rapat telah          In 2024, the Audit Committee through the meeting platform has
  melakukan review, evaluasi, dan pemantauan sesuai dengan lingkup           conducted a review, evaluation, and monitoring in accordance with
  tugas dan tanggung jawabnya, yang meliputi Kinerja Perusahaan,             the scope of its duties and responsibilities, which include the
  Pengendalian Internal serta Manajemen Risiko.                              Company’s Performance, Internal Control and Risk Management.




          Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan          Referensi                      Laporan Keuangan             171
          Corporate Governance             Corporate Social Responsibility        References                     Financial Statements            5
Page 180
                                                                                                                         2024 Annual Report




          Kehadiran Komite Audit dalam rapat diselenggarakan pada tahun 2024 adalah sebagai berikut::
                     Attendance of the Audit Committee in meetings held in 2024 is as follows:

           Nama                                    Jabatan                             Jumlah Rapat                Kehadiran                       %
           Name                                   Designation                        Number of Meetings            Attendance


 Welly Tantono                            Ketua Komite Audit                                    7                       3                         43%
                                          Chairman of Audit Committee
 Antonius Karamoy                         Anggota Komite Audit                                  7                       7                        100%
                                          Member of Audit Committee
 Bastianus Fritz Josef                    Anggota Komite Audit                                  7                       5                         71%
 Lumanauw *                               Member of Audit Committee
                                          Anggota Komite Audit                                  0                       0                           0
 Yoshinori Nishimoto **                   Member of Audit Committee


 *) Sampai bulan Desember 2024 | Until December 2024 **) Sejak bulan Desember 2024 | Since December 2024


 Pada tahun 2024 terjadi pergantian anggota komite audit dari bapak Bastianus Fritz Josef Lumanauw kepada bapak Yoshinori Nishimoto pada bulan
 Desember 2024
 In 2024, a change in the composition of the Audit Committee occurred, with Mr. Bastianus Fritz Josef Lumanauw being succeeded by Mr. Yoshinori Nishimoto
 in December 2024.



Penilaian Kinerja Komite Audit | Evaluation of Audit Committee’s Performance

 Kinerja Komite Audit dievaluasi setiap 1 tahun sekali oleh Dewan              The performance of the Audit Committee is evaluated once every 1
 Komisaris berdasarkan Piagam Komite Audit. Penilaian kinerja                  (one) year by the Board of Commissioners based on the Audit
 dilakukan berdasarkan realisasi dan penyelesaian program kerja yang           Committee Charter. Performance appraisal is based on the realization
 telah tersusun dalam Rencana Kerja dan Anggaran Tahunan Komite                and completion of work programs stated in the Audit Committee’s
 Audit.                                                                        Annual Work Plan and Budget.


 Penilaian juga dilakukan atas saran, rekomendasi, dan masukan yang            The assessment is also conducted based on the suggestions,
 diberikan oleh Komite Audit terkait penyempurnaan soft structure              recommendations, and inputs provided by the Audit Committee
 pendukung pelaksanaan audit, pelaksanaan, dan peningkatan                     related to the improvement of audit supporting soft structure,
 efektivitas audit dan sistem. Hasil penilaian tersebut menjadi bahan          implementation, and improvement of audit effectiveness and system.
 pertimbangan Dewan Komisaris untuk mengangkat kembali                         The results of the assessment will be used by the Board of
 dan/atau memberhentikan anggota Komite Audit untuk periode                    Commissioners as material of consideration to reappoint and/or
 jabatan berikutnya.                                                           dismiss a member of the Audit Committee for the next term of service.




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  Fungsi Nominasi dan Remunerasi
  Nomination and Remuneration Function



  Hingga akhir tahun 2024, Perseroan belum membentuk Komite              By the end of 2024, the company has not yet established a
  Nominasi dan Remunerasi dan pelaksanaan fungsi nominasi dan            Nomination and Remuneration Committee, and the nomination and
  remunerasi dilakukan oleh Dewan Komisaris di mana Dewan                remuneration functions are carried out by the Board of
  Komisaris wajib bertindak independen. Dalam melaksanakan tugas         Commissioners, where the Board of Commissioners is required to act
  dan fungsinya berkaitan dengan nominasi dan remunerasi, Dewan          independently. In carrying out its duties and functions related to
  Komisaris telah memiliki pedoman fungsi nominasi dan remunerasi.       nomination and remuneration, the Board of Commissioners has
                                                                         established guidelines for the nomination and remuneration
                                                                         functions.



  Wewenang Pemegang Saham | Authorities of Shareholders
  Pada tahun 2024, Perseroan masih belum memiliki kebijakan suksesi      In 2024, the Company still does not have a succession policy because
  karena kebijakan suksesi masih dalam tahap penyusunan dan              the succession policy is still in the stage of preparation and
  penyempurnaan, namun Perseroan telah memiliki pedoman fungsi           refinement, but the Company already has guidelines for the
  nominasi dimana prosedur dalam melaksanakan fungsi nominasi            nomination function where the procedure for carrying out the
  adalah sebagai berikut:                                                nomination function is as follows:


  1. Menyusun komposisi dan proses Nominasi anggota Direksi              1. Preparing the composition and process for the nomination of
     dan/atau anggota Dewan Komisaris;                                      Board of Directors and/or Board of Commissioners members;
  2. Menyusun kebijakan dan kriteria yang dibutuhkan dalam proses        2. Developing policies and criteria required in the nomination
     nominasi calon anggota Direksi dan/atau anggota Dewan                  process for potential Board of Directors and/or Board of
     Komisaris;                                                             Commissioners members;
  3. Membantu pelaksanaan evaluasi atas kinerja anggota Direksi          3. Assisting in the evaluation of the performance of Board of
     dan/atau anggota Dewan Komisaris;                                      Directors and/or Board of Commissioners members;
  4. Menyusun program pengembangan kemampuan anggota                     4. Developing a program for the skill development of Board of
     Direksi dan/atau anggota Dewan Komisaris;                              Directors and/or Board of Commissioners members;
  5. Menelaah dan mengusulkan calon yang memenuhi syarat                 5. Reviewing and proposing qualified candidates for the Board of
     sebagai anggota Direksi dan/atau anggota Dewan Komisaris               Directors and/or Board of Commissioners to the Board of
     kepada Direksi untuk disampaikan kepada RUPS.                          Directors for submission to the General Meeting of Shareholders
                                                                            (GMS).




          Tata Kelola Perusahaan     Tanggung Jawab Sosial Perusahaan          Referensi                       Laporan Keuangan         173
          Corporate Governance         Corporate Social Responsibility        References                      Financial Statements        5
Page 182
                                                                                                                                 2024 Annual Report




 Sekretaris Perusahaan
 Corporate Secretary


 Sekretaris Perusahaan memiliki peran penting dalam memastikan                     The Corporate Secretary plays a crucial role in ensuring that the
 implementasi GCG Perseroan telah sesuai dengan ketentuan dan                      implementation of the company's Good Corporate Governance (GCG)
 best practices yang ada saat ini. Selain itu, Sekretaris Perusahaan               is in line with existing regulations and best practices. Additionally, the
 juga bertanggung jawab untuk memelihara dokumen-dokumen                           Corporate Secretary is responsible for maintaining important
 penting yang menunjang struktur GCG dalam penerapan prinsip-                      documents that support the GCG structure in the application of GCG
 prinsip GCG.                                                                      principles.


 Sekretaris Perusahaan juga berperan membangun dan menjaga                         The Corporate Secretary also plays a key role in building and
 komunikasi internal dan eksternal dengan para Pemangku                            maintaining internal and external communication with the company's
 Kepentingan Perseroan. Ia juga mengelola hubungan kerja Dewan                     stakeholders. They manage the working relationship between the
 Komisaris dan Direksi untuk memastikan Perseroan dikelola                         Board of Commissioners and the Board of Directors to ensure that the
 berdasarkan prinsip-prinsip GCG. Sekretaris Perusahaan wajib                      company is managed based on GCG principles. The Corporate
 memastikan pemenuhan kepatuhan Perusahaan terhadap peraturan                      Secretary is required to ensure the company's compliance with
 perundang-undangan di bidang pasar modal, sebagaimana                             regulations in the capital markets sector, as stipulated in POJK
 tercantum dalam POJK Nomor 35/POJK.04/2014 tentang Sekretaris                     Number 35/POJK.04/2014 concerning the Corporate Secretary of
 Perusahaan Emiten atau Perusahaan Publik.                                         Issuers or Public Companies.



Dasar Hukum | Legal Basis
 Dasar hukum yang menjadi acuan penunjukan Sekretaris                              Legal basis which the appointment of the Corporate Secretary of
 Perusahaan SPINDO antara lain:                                                    SPINDO refers to, namely:
 1.   Peraturan Otoritas Jasa Keuangan No. 35/POJK.04/2014                         1.   Financial Services Authority Regulation No. 35/POJK.04/2014
      tentang Sekretaris Perusahaan.                                                    concerning Corporate Secretary.
 2.   Surat Edaran Otoritas Jasa Keuangan No. 21/POJK.04/ 2015                     2.   Financial Services Authority Circular Letter No. 21/POJK.04/
      tentang Pedoman Tata Kelola Perusahaan.                                           2015 concerning the Implementation of Corporate Governance
                                                                                        in Public Companies.




Struktur Organisasi Sekretaris Perusahaan | Corporate Secretary Organizational Structure

 Sekretaris Perusahaan bertanggung jawab langsung kepada Direksi                   The Corporate Secretary is directly responsible to the Board of
 serta diangkat dan diberhentikan berdasarkan Keputusan Direksi                    Directors and appointed and dismissed based on the Board of
 dengan mekanisme internal Perusahaan dan persetujuan Dewan                        Directors’ Decree with the Company’s internal mechanism and the
 Komisaris. Berdasarkan Surat Keputusan Direksi No. 034/LGL-                       approval of the Board of Commissioners. Based on the Decree of the
 SK/X/2015 tanggal 1 Oktober 2015, perihal Pengangkatan                            Company’s Directors No. 034/LGL-SK/X/2015 dated October 1,
 Sekretaris Perusahaan, yaitu Johanes W. Edward.                                   2015, concerning the Appointment of the Corporate Secretary, which
                                                                                   is Johannes W. Edward.


                                                          Chief Strategy & Business Development Officer,
                                                              Corporate Secretary, Investor Relations




                Corporate Secretary & Investor Relations Associate                               Chief Strategy & Business Development Associate




                            Protocol & Secretary Staff                General Staff & Website                        CSR Staff


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Laporan Tahunan 2024




  Profil Sekretaris Perusahaan | Profile of Corporate Secretary



                 Johanes W. Edward
                 Chief Strategy & Business Development Officer
                 Corporate Secretary & Investor Relation

                 Kewarganegaraan | Nationality                 Indonesia | Indonesian
                 Usia | Age                                    48 tahun per 31 Desember 2024
                                                               48 years old as of 31 December 2024
                 Domisili | Domicile                           Jakarta




  Dasar Hukum Pengangkatan                       Diangkat sebagai Sekretaris Perusahaan berdasarkan Surat Keputusan Direksi No. 034/LGLSK/X/2015 tanggal 01
  Legal Basis                                    Oktober tahun 2015.
                                                 Appointed as a Corporate Secretary based on Decree of the Board of Directors No. 034/LGL-SK/X/2015 dated
                                                 October 1st, 2015.
  Riwayat Pekerjaan                              Ÿ Direktur Utama PT Evergreen Invesco Tbk (2009 – 2015)
  Work Experience                                    President Director, PT Evergreen Invesco Tbk (2009 – 2015)
                                                 Ÿ   Komisaris Narada Communication (2003 - hingga kini)
                                                     Commissioner, Narada Communication (2003 – present)
                                                 Ÿ   PT Andalan Artha Advisindo Sekuritas (2000 – 2009)
                                                     PT Andalan Artha Advisindo Sekuritas (2000 – 2009)
  Riwayat Pendidikan                             S1 Ekonomi Universitas Katolik Indonesia Atma Jaya, Jakarta (2000).
  Educational Background                         Bachelor’s degree in Economics, Universitas Katholik Indonesia Atma Jaya, Jakarta (2000).
  Afiliasi Profesional                            Ÿ   Pelatihan profesional di bidang keuangan dan investasi yang diselenggarakan oleh Euromoney (2000, 2004,
  Professional Affiliation                            2006).
                                                     Professional Training in Finance and Invesment organized by Euromoney (2000, 2004, 2006).
                                                 Ÿ   Memiliki lisensi sebagai Manajer Investasi dari Bapepam-LK.
                                                     Obtained Investment Manager License from Bapepam-LK.
                                                 Ÿ   Sertifikasi Wakil Perantara Perdagangan Efek (2019) dan Wakil Penjamin Emisi Efek (2019) oleh TICMI.
                                                     Certification of Securities Brokerage Representative (2019) and The Underwriter Representative (2019) by the
                                                     Indonesia Capital Market Institute.
  Hubungan Afiliasi dengan anggota                Tidak memiliki afiliasi dengan sesama anggota Direksi, atau anggota Dewan Komisaris, atau dengan pemegang
  Dewan Komisaris lainnya, anggota               saham utama.
  Direksi atau pemegang saham utama              Does not have any affiliations with fellow members of the Board of Directors, or members of the Board of
  Affiliate Relations with Board Members          Commissioners, nor with the ultimate shareholder.
  or Majority Shareholders
  Jumlah Kepemilikan Saham ISSP                  -
  Share Ownership in ISSP




           Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan                  Referensi                        Laporan Keuangan               175
           Corporate Governance             Corporate Social Responsibility                References                       Financial Statements              5
Page 184
                                                                                                                       2024 Annual Report



 Wewenang Pemegang Saham | Authorities of Shareholders
 Sekretaris Perusahaan yang juga memimpin Divisi Hubungan                   The Corporate Secretary, who also leads the Investor Relations
 Investor memiliki peranan penting dalam memfasilitasi komunikasi           Division, plays an important role in facilitating communication
 antara Organ Perseroan. Sekretaris Perusahaan bertanggung jawab            between the company's organs. The Corporate Secretary is
 dalam penyusunan kebijakan, perencanaan, serta memastikan                  responsible for the formulation of policies, planning, and ensuring the
 efektivitas dan transparansi komunikasi perusahaan, hubungan               effectiveness and transparency of the company's communication,
 kelembagaan, hubungan investor dan pelaku pasar modal lainnya              institutional relations, investor relations, and other capital market
 dengan tetap memperhatikan prinsip dan kriteria pedoman perilaku,          participants, while adhering to the principles and criteria of the code
 prinsip tata kelola, dan nilai-nilai perusahaan. Selain itu, Sekretaris    of conduct, governance principles, and corporate values. Additionally,
 Perusahaan wajib memastikan pemenuhan kepatuhan perusahaan                 the Corporate Secretary is required to ensure the company's
 terhadap peraturan perundang-undangan di bidang pasar modal.               compliance with regulations in the capital markets sector.


 Berikut adalah tugas dan tanggung jawab utama Sekretaris                   The following are the main duties and responsibilities of Corporate
 Perusahaan:                                                                Secretary:
 1. Mengikuti perkembangan Pasar Modal khususnya peraturan                  1. Monitoring developments in the Capital Market, particularly the
      perundang-undangan yang berlaku di bidang Pasar Modal;                     applicable regulations in the Capital Market sector;
 2. Memberikan masukan kepada Direksi dan Dewan Komisaris                   2. Providing input to the Board of Directors and the Board of
      untuk mematuhi ketentuan peraturan perundangan-undangan di                 Commissioners to ensure compliance with capital market
      bidang Pasar Modal dan Anggaran Dasar Perseroan;                           regulations and the company’s Articles of Association;
 3. Membantu Direksi dan Dewan Komisaris dalam pelaksanaan Tata             3. Assisting the Board of Directors and the Board of Commissioners
      Kelola Perusahaan yang meliputi:                                           in the implementation of Corporate Governance, which includes:
      a. Keterbukaan informasi kepada masyarakat, melalui informasi              a. Providing transparency of information to the public through
         pada situs web Perusahaan;                                                 the company's website;
      b. Penyampaian laporan kepada otoritas pasar modal secara                  b. Submitting reports to capital market authorities in a timely
         tepat waktu;                                                               manner;
      c. Penyelenggaraan dan dokumentasi RUPS;                                   c. Organizing and documenting the General Meeting of
      d. Penyelenggaraan dan dokumentasi Rapat Direksi, Rapat                       Shareholders (GMS);
         Dewan Komisaris, Rapat Bersama, dan Rapat Komite;                       d. Organizing and documenting meetings of the Board of
      e. Pelaksanaan Program Orientasi Perusahaan untuk Direksi                     Directors, Board of Commissioners, Joint Meetings, and
         dan Dewan Komisaris.                                                       Committee Meetings;
 4. Meningkatkan hubungan baik dan sebagai penghubung antara                     e. Implementing the Company’s Orientation Program for the
      Perusahaan dengan pemegang saham, OJK, dan pemangku                           Board of Directors and the Board of Commissioners.
      kepentingan lainnya.                                                  4. Enhancing good relations and serving as a liaison between the
                                                                                 company, shareholders, OJK, and other stakeholders.

Pelaksanaan Tugas Sekretaris Perusahaan 2024 | Implementation of Corporate Secretary’s Duties in 2024
 Pada tahun 2024, Sekretaris Perusahaan telah melaksanakan tugas            In 2024, the Corporate Secretary has completed the following duties
 dan kegiatan sebagai berikut:                                              and activities:
 1. Mengikuti perkembangan Pasar Modal, termasuk aktif mengikuti            1.   Monitoring developments in the Capital Market, including actively
      acara sosialisasi, seminar, ataupun workshop terkait Pasar Modal           participating in socialization events, seminars, or workshops
      yang diadakan oleh Bursa Efek Indonesia, Indonesia Corporate               related to the Capital Market organized by the Indonesia Stock
      Secretary Association (ICSA), KSEI dan instansi/lembaga terkait            Exchange, Indonesia Corporate Secretary Association (ICSA),
      lainnya;                                                                   KSEI, and other relevant institutions/agencies;
 2. Memastikan bahwa Dewan Komisaris dan Direksi memperoleh                 2.   Ensuring that the Board of Commissioners and the Board of
      informasi dengan segera tentang perubahan peraturan yang                   Directors receive timely information about changes in relevant
      relevan, dan memastikan bahwa mereka memahami implikasi                    regulations and ensuring that they understand the implications of
      dari perubahan tersebut;                                                   these changes;
 3. Menyelenggarakan kegiatan Rapat Koordinasi bersama Dewan                3.   Organizing Coordination Meeting with the Board of
      Komisaris, Direksi, Komite Audit, dan Unit Perseroan yang terkait;         Commissioners, the Board of Directors, Audit Committee, and
                                                                                 related units of the Company;

176                     Ikhtisar Utama                  Laporan Manajemen                  Profil Perusahaan            Analisa & Pembahasan Manajemen
  5                       Highlights                    Management Report                  Company Profile              Management Discussion & Analysis
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  4. Pelaksanaan Kepatuhan Tata Kelola Perusahaan;                          4. Implementing Corporate Governance Compliance;
  5. Penyelenggaraan RUPS Tahunan Perseroan di Jakarta pada                 5. Organizing the Company’s Annual General Meeting of
     tahun 2024;                                                                Shareholders (AGMS) in Jakarta in 2024;
  6. Penyelenggaraan Public Expose pada tahun 2024;                         6. Organizing the Public Expose in 2024;
  7. Penyelenggaraan kegiatan rapat Koordinasi antara Dewan                 7. Organizing coordination meetings between the Board of
     Komisaris, Direksi, Komite Audit, dan unit-unit terkait;                   Commissioners, the Board of Directors, the Audit Committee, and
  8. Menyusun dan menyampaikan Laporan Tahunan Tahun Buku                       relevant units;
     2024 kepada regulator dan publik;                                      8. Preparing and submitting the Annual Report for the fiscal year
  9. Melakukan penyampaian laporan berkala lainnya kepada                       2024 to regulators and the public;
     regulator terutama kepada Otoritas Jasa Keuangan dan Bursa             9. Submitting other periodic reports to regulators, especially to the
     Efek Indonesia sesuai dengan peraturan berlaku;                            Financial Services Authority (OJK) and the Indonesia Stock
  10. Melakukan pengkinian informasi Perseroan ke dalam website;                Exchange (IDX), in accordance with applicable regulations;
  11. Membuat press release terkait dengan publikasi Laporan                10. Updating the company information on the website;
     Keuangan, RUPS, dan Public Expose;                                     11. Issuing press releases related to the publication of the Financial
  12. Mengelola dan memberikan keterbukaan informasi kepada                     Statements, the General Meeting of Shareholders (GMS), and
     masyarakat, pemegang saham, regulator, maupun pihak lain                   Public Expose;
     yang terkait, melalui website Perseroan dan website Bursa Efek         12. Managing and providing information transparency to the public,
     Indonesia;                                                                 shareholders, regulators, and other stakeholders, through the
  13. Memantau pemberitaan/informasi publik mengenai Perseroan,                 company’s website and the Indonesia Stock Exchange website;
     baik melalui portal berita online ataupun channel konvensional.        13. Monitoring news/information about the company in both online
  14. Membuat konten untuk akun resmi media sosial Perseroan, yaitu             news portals and conventional media channels;
     Instagram dan Facebook mengenai produk-produk Perseroan.               14. Creating content for the company's official social media accounts,
                                                                                such as Instagram and Facebook, regarding the company's
                                                                                products.

  Hubungan Investor | Investor Relations
  Hubungan Investor memiliki peranan sebagai manajemen strategis            Investor Relations plays a strategic management role in integrating
  untuk mengintegrasikan beberapa aspek penting, seperti keuangan,          several important aspects, such as finance, communication,
  komunikasi, pemasaran, dan kepatuhan hukum. Hubungan Investor             marketing, and legal compliance. Investor Relations ensures the
  memastikan efektivitas sebuah komunikasi yang baik antara                 effectiveness of communication between the company and its
  Perseroan dengan pemangku kepentingan (stakeholder).                      stakeholders.


  Hubungan Investor bertujuan memberikan layanan informasi terkini          The objective of Investor Relations is to provide up-to-date
  terkait dengan kinerja usaha Perseroan dan membina hubungan baik          information regarding the company's business performance and to
  dengan para pemangku kepentingan. Kegiatan hubungan investor              foster good relationships with stakeholders. Investor Relations
  dilaksanakan dengan di bawah koordinasi Sekretaris Perusahaan.            activities are carried out under the coordination of the Corporate
  Dalam melaksanakan tugasnya, Hubungan Investor harus mematuhi             Secretary. In performing its duties, Investor Relations must comply
  peraturan tentang pasar modal dan pelaporan mengenai segala               with capital market regulations and reporting requirements regarding
  keterbukaan informasi yang dibutuhkan oleh pemegang saham, di             any information disclosure needed by shareholders, which is reported
  mana pelaporan dilakukan secara berkala melalui sistem e-reporting        periodically through the e-reporting system to the Financial Services
  kepada Otoritas Jasa Keuangan dan disampaikan secara umum                 Authority (OJK) and publicly announced through the Indonesia Stock
  melalui pengumuman Bursa Efek Indonesia.                                  Exchange (IDX).


  Hubungan Investor memberikan kesempatan kepada Analis, Investor           Investor Relations provides opportunities for analysts, investors, and
  ataupun pers media untuk terlibat dalam diskusi secara langsung           the media to engage in direct discussions with the company through
  dengan Perseroan berupa Public Expose, Analyst Meeting, siaran            Public Exposes, Analyst Meetings, press releases, or Company Visits,
  pers atau Company Visit, yang paling tidak dilaksanakan satu kali         at least once a year. Meanwhile, the results of presentations, press
  dalam setahun. Sementara itu, hasil dari pemaparan presentasi, siaran     releases, and other information are uploaded to the company’s
  pers, dan informasi lainnya diunggah dalam website Perseroan.             website.


          Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan          Referensi                     Laporan Keuangan             177
          Corporate Governance            Corporate Social Responsibility        References                    Financial Statements            5
Page 186
                                                                                                                                                2024 Annual Report




 Selama periode 2024, Sekretaris Perusahaan dalam memenuhi                                        In meeting the regulations and information disclosure to the public,
 peraturan dan keterbukaan informasi terhadap publik, telah                                       the Corporate Secretary has carried out correspondence throughout
 melakukan korespondensi, yakni sebagai berikut:                                                  2024, as follows:

                                             Perihal                                                    Tujuan                No. Surat         Penjelasan            Waktu
No.                                                                                                                                             Explanation
                                             Subject                                                    Address           Reference Number                            Date


 1.    Laporan Hutang Valuta Asing PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") per 31            OJK             001/I/CS-ISSP/2024                      08 Januari 2024
       Desember 2022.                                                                                                                                            08 January 2024
       Foreign Currency Debt Report of PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") as of
       December 31, 2022.
 2.    Laporan Bulanan Registrasi Pemegang Efek per 31 Desember 2022.                                    OJK             002/I/CS-ISSP/2024                      09 Januari 2024
       Monthly report on the registration of securities holders as of December 31, 2022.                                                                         09 January 2024
 3.    Penyampaian Laporan Realisasi Penggunaan Dana Hasil Penawaran Umum PT Steel Pipe                  OJK             003S/I/CS-ISSP/2024                     10 Januari 2024
       Industry of Indonesia Tbk (“Spindo”) per 31 Desember 2023 – Sukuk Ijarah II Spindo                                                                        10 January 2024
       Tahap II Tahun 2023.
       Submission of report on the realization of the use of proceeds from the public offering of
       PT Steel Pipe Industry of Indonesia Tbk (“Spindo”) as of December 31, 2023 – Spindo
       Sukuk Ijarah II Phase II Year 2023.
 4.    Penyampaian Laporan Realisasi Penggunaan Dana Hasil Penawaran Umum PT Steel Pipe                  OJK             003B/I/CS-ISSP/2024                     10 Januari 2024
       Industry of Indonesia Tbk (“Spindo”) per 31 Desember 2023 – Obligasi Berkelanjutan II                                                                     10 January 2024
       Spindo Tahap I Tahun 2023 dan Obligasi Berkelanjutan II Spindo Tahap II Tahun 2023.
       Submission of report on the realization of the use of proceeds from the public offering of
       PT Steel Pipe Industry of Indonesia Tbk (“Spindo”) as of December 31, 2023 – Spindo
       Continuous Bonds II Phase I of 2023 and Spindo Continuous Bonds II Phase II of 2023.
 5.    Penyampaian Penjelasan atas Volatilitas Transaksi Efek PT Steel Pipe Industry of                  OJK             006/I/CS-ISSP/2024                      23 Januari 2024
       Indonesia Tbk (“Spindo”).                                                                                                                                 23 January 2024
       Presentation explaining the volatility of securities transactions of PT Steel Pipe Industry of
       Indonesia Tbk (“Spindo”).
 6.    Laporan Hutang Valuta Asing PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") per 31            OJK             007/II/CS-ISSP/2024                     05 Februari 2024
       Januari 2024.                                                                                                                                            05 February 2024
       Foreign Currency Debt Report of PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") as of
       January 31, 2024.
 7.    Laporan Bulanan Registrasi Pemegang Efek per 31 Januari 2024.                                     OJK             008/II/CS-ISSP/2024                     09 Februari 2024
       Monthly securities ownership registration report as of January 31, 2024.                                                                                 09 February 2024
 8.    Tanggapan PT Steel Pipe Industry of Indonesia Tbk atas Penelaahan Laporan Realisasi               OJK             009/II/CS-ISSP/2024                     22 Februari 2024
       Penggunaan Dana Hasil Penawaran Umum Berkelanjutan Obligasi II Tahap I & Tahap II                                                                        22 February 2024
       2023 dan Penawaran Umum Berkelanjutan Sukuk II Tahap II 2023 Periode 31 Desember
       2023 PT Steel Pipe Industry of Indonesia Tbk.
       Response of PT Steel Pipe Industry of Indonesia Tbk to review the report on the use of
       proceeds from the Continuous Public Offering of Bonds II Phase I and Phase II 2023 and
       the continued public offering of Sukuk II Phase II 2023 for the period of December 31,
       2023 of PT Steel Pipe Industry of Indonesia Tbk.
 9.    Surat Permohonan Pendaftaran Obligasi di KSEI.                                                    KSEI            010/II/CS-ISSP/2024                        Maret 2024
       Letter of application for registration of bonds with KSEI.                                                                                                  March 2024
 10.   Laporan Hutang Valuta Asing PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") per 28            OJK             011/III/CS-ISSP/2024                     06 Maret 2024
       Februari 2024.                                                                                                                                             06 March 2024
       Foreign Currency Debt Report of PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") as of
       February 28, 2024.
 11.   Laporan Bulanan Registrasi Pemegang Efek per 28 Februari 2024.                                    OJK             012/III/CS-ISSP/2024                     12 Maret 2024
       Monthly securities ownership registration report as of Feruary 28, 2024.                                                                                   12 March 2024
 12.   Penyampaian Laporan Keuangan PT Steel Pipe Industry of Indonesia Tbk ("Spindo") th 2023.          OJK             014/III/CS-ISSP/2024                     13 Maret 2024
       Submission of Financial Report of PT Steel Pipe Industry of Indonesia Tbk ("Spindo") 2023.                                                                 13 March 2024




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  5                             Highlights                            Management Report                           Company Profile                Management Discussion & Analysis
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                                           Perihal                                                    Tujuan          No. Surat            Penjelasan          Waktu
  No.                                                                                                                                      Explanation
                                           Subject                                                    Address     Reference Number                             Date


  13.   Penyampaian kesiapan dana untuk pelunasan Obligasi Berkelanjutan II SPINDO Tahap I              OJK       016/III/CS-ISSP/2024                      15 Maret 2024
        2023 Seri A dan Sukuk Ijarah Berkelanjutan II SPINDO Tahap I 2023 Seri A.                                                                           15 March 2024
        Submission of Fund Readiness Report for Settlement of Continuing Obligations of
        SPINDO II Phase I 2023 Series A and Continuing Sukuk Ijarah of SPINDO II Phase I 2023
        Series A.
  14.   Penyampaian Checklist Pengungkapan Laporan Keuangan Periode 31 Desember 2023                    OJK       017/III/CS-ISSP/2024                      20 Maret 2024
        Submission of Financial Statement Disclosure Checklist for the period as at 31 December                                                             20 March 2024
        2023.
  15.   Surat izin kepada Wali Amanat untuk site visit PT Steel Pipe Industry of Indonesia Tbk          OJK       018/III/CS-ISSP/2024                      21 Maret 2024
        (“SPINDO”)                                                                                                                                          21 March 2024
        Letter of Authorization for the Trustee to Visit PT Steel Pipe Industry of Indonesia Tbk
        (“SPINDO”)
  16.   Laporan Hutang Valuta Asing PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") per 31          OJK       019/IV/CS-ISSP/2024                        5 April 2024
        Maret 2024                                                                                                                                           5 April 2024
        Foreign Currency Debt Report of PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") as of
        March 31, 2024.
  17.   Laporan Bulanan Registrasi Pemegang Efek per 31 Maret 2024                                      OJK       020/IV/CS-ISSP/2024                        5 April 2024
        Monthly Registration Report of Security Holders as of 31 March 2024.                                                                                 5 April 2024
  18.   Penyampaian Laporan Keuangan PT Steel Pipe Industry of Indonesia Tbk ("Spindo")                 OJK       021/IV/CS-ISSP/2024                       26 April 2024
        Kuartal I 2024.                                                                                                                                     26 April 2024
        Submission of Financial Statements of PT Steel Pipe Industry of Indonesia Tbk (“Spindo”)
        for the first quarter of 2024.
  19.   Kunjungan Waliamanat BRI ke Unit Pabrik PT Steel Pipe Industry of Indonesia Tbk.                OJK       024/IV/CS-ISSP/2024                       26 April 2024
        BRI Trustee Visit to PT Steel Pipe Industry of Indonesia Tbk Factory Unit.                                                                          26 April 2024
  20.   Penyampaian Laporan Tahunan PT Steel Pipe Industry of Indonesia Tbk ("Spindo") th               OJK       025/IV/CS-ISSP/2024                       29 April 2024
        2023.                                                                                                                                               29 April 2024
        Submission of PT Steel Pipe Industry of Indonesia Tbk ("Spindo") Annual Report 2023.
  21.   Penyampaian Laporan Keberlanjutan PT Steel Pipe Industry of Indonesia Tbk ("Spindo") th         OJK       026/IV/CS-ISSP/2024                       29 April 2024
        2023.                                                                                                                                               26 April 2024
        Submission of PT Steel Pipe Industry of Indonesia Tbk ("Spindo") Sustainability Report
        2023.
  22.   Laporan Hutang Valuta Asing PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") per 30          OJK       027/V/CS-ISSP/2024                         7 Mei 2024
        April 2024.                                                                                                                                          7 May 2024
        Foreign Currency Debt Report of PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") as of
        April 30, 2024..
  23.   Laporan Bulanan Registrasi Pemegang Efek per 30 April 2024.                                     OJK       028/V/CS-ISSP/2024                         7 Mei 2024
        Monthly Report of Securities Holder Registration as of April 30, 2024.                                                                               7 May 2024
  24.   Pemberitahuan mata acara RUPS ISSP.                                                             OJK       031/V/CS-ISSP/2024                         15 Mei 2024
        Notification of ISSP GMS Agenda.                                                                                                                     15 May 2024
  25.   Pengumuman Rapat Umum Pemegang Saham Tahunan.                                                   OJK       032/V/CS-ISSP/2024                         22 Mei 2024
        Announcement of Annual General Meeting of Shareholders.                                                                                             22 May 2024
  26.   Pemberitahuan Perubahan Redaksional Mata Acara Rapat Umum Pemegang Saham                        OJK       033/V/CS-ISSP/2024                         30 Mei 2024
        Tahunan PT Steel Pipe Industry of Indonesia Tbk.                                                                                                    30 May 2024
        Notification of Editorial Changes to the Agenda of PT Steel Pipe Industry of Indonesia Tbk.




             Tata Kelola Perusahaan               Tanggung Jawab Sosial Perusahaan                    Referensi                       Laporan Keuangan                  179
             Corporate Governance                   Corporate Social Responsibility                  References                      Financial Statements                 5
Page 188
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                                           Perihal                                                        Tujuan                 No. Surat         Penjelasan            Waktu
No.                                                                                                                                                Explanation
                                           Subject                                                        Address            Reference Number                            Date


 27.   Pengantar Panggilan RUPST PT Steel Pipe Industry of Indonesia Tbk ("Spindo").                         OJK            036/VI/CS-ISSP/2024                        6 Juni 2024
       Introduction to the Invitation of the AGMS of PT Steel Pipe Industry of Indonesia Tbk                                                                          6 June 2024
       ("Spindo").
 28.   Undangan RUPST & RUPSLB.                                                                       Notaris Christina     037/VI/CS-ISSP/2024                        6 Juni 2024
       Invitation of the AGMS & EGMS.                                                                    Dwi Utami                                                    6 June 2024
 29.   Undangan RUPST & RUPSLB.                                                                         KAP Kanaka          038/VI/CS-ISSP/2024                        6 Juni 2024
       Invitation of the AGMS & EGMS.                                                                Puradireja Suhartono                                             6 June 2024
                                                                                                     Nexia International
 30.   Undangan RUPST & RUPSLB.                                                                       PT Adimitra Jasa      039/VI/CS-ISSP/2024                        6 Juni 2024
       Invitation of the AGMS & EGMS.                                                                     Korpora                                                     6 June 2024
 31.   Undangan RUPST & RUPSLB.                                                                        Dewan Direksi        040/VI/CS-ISSP/2024                        6 Juni 2024
       Invitation of the AGMS & EGMS.                                                                                                                                 6 June 2024
 32.   Undangan RUPST & RUPSLB.                                                                      Dewan Komisaris        041/VI/CS-ISSP/2024                        6 Juni 2024
       Invitation of the AGMS & EGMS.                                                                                                                                 6 June 2024
 33.   Undangan RUPST & RUPSLB.                                                                         Komite Audit        042/VI/CS-ISSP/2024                        6 Juni 2024
       Invitation of the AGMS & EGMS.                                                                                                                                 6 June 2024
 34.   Surat Tanggapan Penelaahan atas Laporan Keuangan Tahunan 2023 PT Steel Pipe                           OJK            044/VI/CS-ISSP/2024                        7 Juni 2024
       Industry of Indonesia Tbk.Laporan Hutang.                                                                                                                      7 June 2024
       Response Letter to the Review of the 2023 Annual Financial Report of PT Steel Pipe
       Industry of Indonesia Tbk. Debt Report.
 35.   Valuta Asing PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") per 31 Mei 2024.                     OJK            045/VI/CS-ISSP/2024                       10 Juni 2024
       Foreign Currency of PT Steel Pipe Industry of Indonesia Tbk ("Spindo") as of May 31, 2024.                                                                     10 June 2024
 36.   Laporan Bulanan Registrasi Pemegang Efek per 31 Mei 2024.                                             OJK            046/VI/CS-ISSP/2024                       10 Juni 2024
       Monthly Report on Securities Holder Registration as of May 31, 2024.                                                                                           10 June 2024
 37.   Laporan Hasil Evaluasi Komite Audit PT. Steel Pipe Industry of Indonesia,Tbk. terhadap                OJK            051/VI/CS-ISSP/2024                       19 Juni 2024
       Pelaksanaan Pemberian Jasa Audit atas Laporan Keuangan Tahunan.                                                                                                19 June 2024
       Report on the Results of the Evaluation of the Audit Committee of PT Steel Pipe Industry
       of IndonesiaTbk on the Implementation of the Provision of Audit Services for the Annual
       Financial Report.
 38.   Pemberitahuan Pengunduran Diri Anggota Direksi dan Komisaris PT Steel Pipe Industry of                OJK            053/VI/CS-ISSP/2024                       21 Juni 2024
       Indonesia Tbk ("Perseroan").                                                                                                                                   21 June 2024
       Notification of Resignation of Members of the Board of Directors and Commissioners of PT
       Steel Pipe Industry of Indonesia Tbk ("Company").
 39.   Penyampaian Bukti Risalah Rapat Umum Pemegang Saham Tahunan (“RUPST”).                                OJK            061/VII/CS-ISSP/2024                       1 Juli 2024
       Submission of Evidence of Minutes of the Annual General Meeting of Shareholders (“AGMS”).                                                                       1 July 2024
 40.   Pembagian Dividen Tunai.                                                                              OJK            062/VII/CS-ISSP/2024                       1 Juli 2024
       Distribution of Cash Dividends.                                                                                                                                 1 July 2024
 41.   Surat undangan site visit Pabrik Karawang PT Steel Pipe Industry of Indonesia Tbk                    BPJS            069/VII/CS-ISSP/2024                       3 Juli 2024
       (“SPINDO”).                                                                                    Ketenagakerjaan                                                  3 July 2024
       Invitation letter for site visit to Karawang Factory of PT Steel Pipe Industry of Indonesia
       Tbk (“SPINDO”).
 42.   Laporan Hutang Valuta Asing PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") per 30                OJK            070/VII/CS-ISSP/2024                       9 Juli 2024
       Juni 2024.                                                                                                                                                      9 July 2024
       Foreign Currency Debt Report of PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") as of
       June 30, 2024.
 43.   Laporan Bulanan Registrasi Pemegang Efek per 30 Juni 2024.                                            OJK            071/VII/CS-ISSP/2024                       9 Juli 2024
       Monthly Report of Securities Holder Registration as of June 30, 2024.                                                                                           9 July 2024




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  5                             Highlights                            Management Report                            Company Profile                  Management Discussion & Analysis
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                                           Perihal                                                          Tujuan            No. Surat            Penjelasan           Waktu
  No.                                                                                                                                              Explanation
                                           Subject                                                          Address       Reference Number                              Date


  44. Surat Tanggapan terhadap Permintaan Penjelasan terkait dengan Informasi Pemilik Manfaat                       OJK        072/VII/CS-ISSP/2024                    9 Juli 2024
        (“Ultimate Beneficiary Owner”) kepada PT Steel Pipe Industry of Indonesia Tbk.                                                                                  9 July 2024




  45. Penyampaian Risalah Rapat Umum Pemegang Saham (“RUPST”) PT Steel Pipe Industry of                             OJK        077/VII/CS-ISSP/2024                   25 Juli 2024
        Indonesia Tbk.                                                                                                                                                25 July 2024
        Submission of Minutes of the General Meeting of Shareholders (“AGMS”) of PT Steel Pipe
        Industry of Indonesia Tbk.
  46. Penyampaian Kesiapan Dana untuk Pelunasan Obligasi Berkelajutan II SPINDO Tahap II 2023                       OJK        078/VII/CS-ISSP/2024                   26 Juli 2024
        Seri A dan Sukuk Ijarah Berkelanjutan II SPINDO Tahap II Tahun 2023 Seri A.                                                                                   26 July 2024
        Submission of Fund Readiness for Repayment of SPINDO Continuous Bonds II Phase II 2023
        Series A and SPINDO Continuous Sukuk Ijarah II Phase II Year 2023 Series A.
  47. Penyampaian Laporan Keuangan PT Steel Pipe Industry of Indonesia Tbk             ("Spindo") Tengah            OJK        079/VII/CS-ISSP/2024                   29 Juli 2024
        Tahun th 2024.                                                                                                                                                29 July 2024
        Submission of Financial Report of PT Steel Pipe Industry of Indonesia Tbk ("Spindo") Mid-Year
        2024.
  48. Penyampaian Checklist Pengungkapan Laporan Keuangan Tengah Tahun Periode 30 Juni 2024.                        OJK        080/VII/CS-ISSP/2024                   29 Juli 2024
        Submission of Checklist for Disclosure of Mid-Year Financial Report Period 30 June 2024.                                                                      25 July 2024
  49. Laporan Hutang Valuta Asing PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") per 31 Juli                   OJK        083/VIII/CS-ISSP/2024                 6 Agustus 2024
        2024.                                                                                                                                                        6 August 2024
        Foreign Currency Debt Report of PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") as of July
        31, 2024.
  50. Laporan Bulanan Registrasi Pemegang Efek per 31 Juli 2024.                                                    OJK        084/VIII/CS-ISSP/2024                 6 Agustus 2024
        Monthly Report of Securities Holder Registration as of 31 July 2024.                                                                                         6 August 2024
  51. Penyampaian Laporan Permohonan Izin untuk Menerima Kredit Luar Negeri PT Steel Pipe                           OJK        085/VIII/CS-ISSP/2024                 6 Agustus 2024
        Industry of Indonesia Tbk ("Spindo").                                                                                                                        6 August 2024
        Submission of Report of Application for Permit to Receive Foreign Credit of PT Steel Pipe
        Industry of Indonesia Tbk ("Spindo").
  52. Pemberitahuan Rencana Penyelenggaraan Public Expose Tahunan 2024.                                             OJK        086/VIII/CS-ISSP/2024                12 Agustus 2024
        Announcement of Plan to Hold Annual Public Expose 2024.                                                                                                     12 August 2024
  53. Pemberitahuan Rencana Penyelenggaraan Public Expose Tahunan 2024.                                             OJK        087/ViII/CS-ISSP/2024                21 Agustus 2024
        Announcement of Plan to Hold Annual Public Expose 2024.                                                                                                     21 August 2024
  54. Surat undangan company visit Pabrik Surabaya PT Steel Pipe Industry of Indonesia Tbk                         BPJS        090/VIII/CS-ISSP/2024                22 Agustus 2024
        (“SPINDO”).                                                                                          Ketenagakerjaan                                        22 August 2024
        Invitation letter for company visit to Surabaya Factory of PT Steel Pipe Industry of Indonesia Tbk
        (“SPINDO”).
  55. Penyampaian Laporan Hasil Public Expose Tahun 2024.                                                           OJK        092/VIII/CS-ISSP/2024                29 Agustus 2024
        Submission of Report on Results of Public Expose 2024.                                                                                                      29 August 2024
  56. Penyampaian Informasi Pemenuhan Kewajiban Public Expose Tahunan PT Steel Pipe Industry                        OJK        093/VIII/CS-ISSP/2024                29 Agustus 2024
        of Indonesia Tbk.                                                                                                                                           29 August 2024
        Submission of Information on Fulfillment of Annual Public Expose Obligations of PT Steel Pipe
        Industry of Indonesia Tbk.
  57. Laporan Hutang Valuta Asing PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") per 31                        OJK        094/IX/CS-ISSP/2024                  6 September 2024
        Agustus 2024.                                                                                                                                               6 September 2024
        Foreign Currency Debt Report of PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") as of
        August 31, 2024.
  58. Laporan Bulanan Registrasi Pemegang Efek per 31 Agustus 2024.                                                 OJK        095/IX/CS-ISSP/2024                  6 September 2024
        Monthly Report on Securities Holder Registration as of August 31, 2024.                                                                                     6 September 2024



                Tata Kelola Perusahaan             Tanggung Jawab Sosial Perusahaan                         Referensi                         Laporan Keuangan                   181
                Corporate Governance                 Corporate Social Responsibility                       References                        Financial Statements                  5
Page 190
                                                                                                                                         2024 Annual Report




                                          Perihal                                                  Tujuan               No. Surat        Penjelasan            Waktu
No.                                                                                                                                      Explanation
                                          Subject                                                  Address          Reference Number                           Date


 59.   Laporan Hutang Valuta Asing PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") per 30       OJK            096/X/CS-ISSP/2024                     7 Oktober 2024
       September 2024.                                                                                                                                    7 October 2024
       Foreign Currency Debt Report of PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") as of
       September 30, 2024.
 60.   Laporan Bulanan Registrasi Pemegang Efek per 30 September 2024.                              OJK            097/X/CS-ISSP/2024                     7 Oktober 2024
       Monthly Report of Securities Holder Registration as of September 30, 2024.                                                                         7 October 2024
 61.   Penyampaian Laporan Keuangan PT Steel Pipe Industry of Indonesia Tbk ("Spindo")              OJK            099/X/CS-ISSP/2024                     28 Oktober 2024
       Triwulan III Tahun 2024.                                                                                                                           28 October 2024
       Submission of Financial Report of PT Steel Pipe Industry of Indonesia Tbk ("Spindo") for
       the Third Quarter of 2024.
 62.   Surat Tanggapan terhadap Tindak Lanjut Penelaahan LKT 2023 PT Steel Pipe Industry of         OJK            100/XI/CS-ISSP/2024                   1 November 2024
       Indonesia Tbk.                                                                                                                                    1 November 2024
       Response Letter to the Follow-up of the Review of the 2023 Financial Statements of PT
       Steel Pipe Industry of Indonesia Tbk.
 63.   Surat Pengantar Penunjukan KAP PT Steel Pipe Industry of Indonesia Tbk (“Spindo”).           OJK            101/XI/CS-ISSP/2024                   4 November 2024
       Introductory Letter of Appointment of Public Accounting Firm of PT Steel Pipe Industry of                                                         4 November 2024
       Indonesia Tbk ("Spindo").
 64.   Penyampaian Laporan Penunjukan KAP PT Steel Pipe Industry of Indonesia Tbk                   OJK            102/XI/CS-ISSP/2024                   4 November 2024
       (“Spindo”).                                                                                                                                       4 November 2024
       Submission of Report on Appointment of Public Accounting Firm of PT Steel Pipe Industry
       of Indonesia Tbk ("Spindo").
 65.   Laporan Bulanan Registrasi Pemegang Efek per 31 Oktober 2024.                                OJK            103/XI/CS-ISSP/2024                   5 November 2024
       Monthly Report of Securities Holder Registration as of October 31, 2024.                                                                          5 November 2024
 66.   Laporan Hutang Valuta Asing PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") per 31       OJK            104/XI/CS-ISSP/2024                   6 November 2024
       Oktober 2024.                                                                                                                                     4 November 2024
       Foreign Currency Debt Report of PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") as of
       October 31, 2024.
 67.   Laporan Hutang Valuta Asing PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") per 30       OJK           106/XII/CS-ISSP/2024                    Desember 2024
       November 2024.                                                                                                                                    4 December 2024
       Foreign Currency Debt Report of PT Steel Pipe Industry of Indonesia, Tbk ("Spindo") as of
       November 31, 2024.
 68.   Perubahan Susunan Komite Audit.                                                              OJK           108/XII/CS-ISSP/2024                   6 Desember 2024
       Changes in the Composition of the Audit Committee.                                                                                                6 December 2024
 69.   Laporan Bulanan Registrasi Pemegang Efek per 30 November 2024.                               OJK           109/XII/CS-ISSP/2024                  10 Desember 2024
       Monthly Report of Securities Holder Registration as of November 30, 2024.                                                                        10 December 2024




182                          Ikhtisar Utama                         Laporan Manajemen                     Profil Perusahaan               Analisa & Pembahasan Manajemen
  5                            Highlights                           Management Report                     Company Profile                 Management Discussion & Analysis
Page 191
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  Program Pengembangan Keahlian Sekretaris Perusahaan |
  Corporate Secretary Skill Development Program
  Demi mendukung pelaksanaan tugas dan tanggung jawabnya, Sekretaris                      In order to support the implementation of its duties and responsibilities, the
  Perusahaan terus berupaya meningkatkan kompetensi. Berikut                              Corporate Secretary continues to improve its competence. The following
  pelatihan/workshop/seminar yang diikuti oleh Sekretaris Perusahaan selama               training/workshops/seminars has been followed by Corporate Secretary
  tahun 2024 antara lain:                                                                 during 2024:


  Tanggal                               Pelatihan/Workshop/Seminar                                                    Penyelenggara                        Realisasi
   Date                                  Training/Workshop/Seminar                                                      Organizer                         Realization

  6 Februari 2024           Sustainability and Innovation Sectoral Group Gathering on                SwissCham                                           Telah direalisasikan
  6 February 2024           Pathways to Sustainability (SwissCham)                                                                                       Has been realized


  23 April 2024             Debt Capital Market Seminar 2024: Outlook, Opportunity, and              BEI, KPEI, KSEI, PEFINDO, CGI                       Telah direalisasikan
  23 April 2024             Sustainability                                                                                                               Has been realized


  25 April 2024             ESG Investing : What is it and why investors care about it?              BEI (Bursa Efek Indonesia)                          Telah direalisasikan
  25 April 2024                                                                                      IDX (Indonesia Stock Exchange)                      Has been realized


  15 Mei 2024               Fitch on Indonesia 2024 Post - Election Political and Economic           Fitch Rating                                        Telah direalisasikan
  15 May 2024               Paths                                                                                                                        Has been realized


  16 Mei 2024               Sosialisasi Peraturan Bursa Nomor I-N tentang Pembatalan                 BEI (Bursa Efek Indonesia)                          Telah direalisasikan
  16 May 2024               Pencatatan (Delisting) dan Pencatatan Kembali (Relisting)                IDX (Indonesia Stock Exchange)                      Has been realized
                            Dissemination of Stock Exchange Regulation Number I-N
                            concerning Delisting and Relisting


  11 Juni 2024              Standardisasi Profesi Sekretaris Perusahaan dan Kode Etik                ICSA (Indonesia Corporate Secretary                 Telah direalisasikan
  11 June 2024              Sekretaris Perusahaan                                                    Association)                                        Has been realized
                            Standardization of the Corporate Secretary Profession and Code of
                            Ethics for Corporate Secretaries


  13-15 Juni 2024           Sosialisasi POJK di Bidang Pasar Modal Tahun 2024                        OJK (Otoritas Jasa Keuangan)                        Telah direalisasikan
  13-15 June 2024           Dissemination of POJK in the Capital Market Sector in 2024               The Financial Services Authority                    Has been realized


  24 Juni 2024              Workshop ”Accelerate Your Sustainability Journey by Raising the          S&P Global, BEI (Bursa Efek Indonesia)              Telah direalisasikan
  24 June 2024              Bar on Sustainability Standards & Disclosures”                           S&P Global, IDX (Indonesia Stock Exchange) Has been realized


  18 September 2024 Diskusi Panel Menggiatkan Kompetensi Unggul Investor Relations                   AEI                                                 Telah direalisasikan
  18 September 2024 Panel Discussion Encourages Superior Competence of Investor                                                                          Has been realized
                            Relations


  17 Oktober 2024           Simplifying GenAI Practical Strategies for Leaders                       Searce                                              Telah direalisasikan
  17 October 2024                                                                                                                                        Has been realized


  5 November 2024           Industrial Decarbonization Journey                                       World Bank, WTO, World Economic Forum,              Telah direalisasikan
  5 November 2024                                                                                    IFC                                                 Has been realized


  5 November 2024           Fitch Rating Indonesia Sector Briefing 2024                               Fitch Ratings                                       Telah direalisasikan
  5 November 2024                                                                                                                                        Has been realized




            Tata Kelola Perusahaan             Tanggung Jawab Sosial Perusahaan                  Referensi                         Laporan Keuangan                     183
            Corporate Governance                 Corporate Social Responsibility                References                        Financial Statements                    5
Page 192
                                                                                                                                  2024 Annual Report




 Audit Internal
 Internal Audit


 Perseroan mengawal setiap aktivitas Perusahaan dengan                        The company oversees every business activity by establishing a
 pembentukan budaya tata kelola yang baik. Pengelolaan risiko serta           culture of good governance. Risk management and internal controls
 Pengendalian internal menyentuh setiap aspek di dalam Perusahaan             touch every aspect of the company, both operational and financial.
 baik operasional maupun keuangan. SPINDO mendorong setiap                    SPINDO encourages every element within the organization to
 elemen yang ada untuk memahami dan peduli terhadap budaya GCG.               understand and care about the culture of GCG (Good Corporate
                                                                              Governance).


 Langkah tersebut menjadi bagian dalam menciptakan Perusahaan                 This step is part of creating a healthy and sustainable company,
 yang sehat dan berkelanjutan, sehingga memberikan nilai tambah               thereby providing added value and a strong foundation for the
 dan landasan yang kuat kepada Perseroan untuk bersaing dan                   company to compete and become the primary choice for customers.
 menjadi pilihan utama para pelanggan.


 Peran KP5 yang dilakukan oleh Internal Audit sangat strategis dalam          The role of KP5, performed by Internal Audit, is highly strategic in
 menunjang penerapan budaya GCG melalui pendekatan yang                       supporting the implementation of the GCG culture through a
 terstruktur dan menyeluruh. KP5 juga berperan untuk menanggapi               structured and comprehensive approach. KP5 also plays a role in
 pelaporan pelanggaran kode etik di bawah level direksi. Fungsi ini           responding to reports of code of conduct violations below the level of
 dilakukan guna mengevaluasi dan meningkatkan tata kelola                     the Board of Directors. This function is carried out to evaluate and
 (governance process), pengendalian (control), dan efektivitas proses.        improve governance processes, controls, and the effectiveness of
                                                                              processes.


Dasar Hukum | Legal Basis
 Ÿ    Undang-Undang No. 40/2007 tentang Perseroan Terbatas;                   Ÿ   Law No. 40/2007 on Limited Liability Companies;
 Ÿ    Undang-Undang No. 8/1995 tentang Pasar Modal;                           Ÿ   Law No. 8/1995 on the Capital Market;
 Ÿ    Peraturan Otoritas Jasa Keuangan No. 56 / POJK.04 / 2015                Ÿ   OJK Regulation No. 56 / POJK.04 / 2015 dated 29 December 2015
      tanggal 29 Desember 2015 tentang Pembentukan dan Pedoman                    on the Establishment and Guidance to the Formulation of Internal
      untuk Penyusunan Piagam Unit Audit Internal          (“POJK No.             Audit Unit Charter (“POJK No. 56/2015”).
      56/2015”).                                                              Ÿ   The Head of the Internal Audit was appointed by the decision
 Ÿ    Kepala Audit Internal ditunjuk melalui surat keputusan Direktur             letter of President Director dated 8 October 2012.
      Utama tertanggal 8 Oktober 2012.


Struktur Organisasi Unit Audit Internal | Internal Audit Unit Organizational Structure
 Unit Audit Internal merupakan unit kerja independen yang                     The Internal Audit unit is an independent work unit that is directly
 bertanggung jawab langsung kepada Direksi. Unit Audit Internal               responsible to the Board of Directors. The Internal Audit unit holds
 mengadakan pertemuan rutin dengan Komite Audit selaku organ                  regular meetings with the Audit Committee, as a supporting organ of
 Penunjang Dewan Komisaris untuk membahas isu-isu yang                        the Board of Commissioners, to discuss issues related to internal
 pengendalian internal dan manajemen risiko.                                  controls and risk management.

                                                            Rapat Umum Pemegang Saham
                                                            General Meeting of Shareholders




                              Dewan Komisaris                                                                     Direktur Utama
                            Board of Commissioners                                                               President Director




                                  Komite Audit                                                               Unit Audit Internal
                                 Audit Committee                                                             Internal Audit Unit



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  Departemen Audit Internal dipimpin oleh Kepala Audit Internal.                       Internal Audit Department led by the Head of Internal Audit. The
  Berikut adalah anggota yang membantu Kepala Audit Internal                           following are members who assist the Head of Internal Audit and
  beserta fungsi dan tugasnya menurut tingkatan, di antaranya:                         their duties and responsibilites by level, including:


  Jumlah Anggota                        Jabatan                                                     Tugas & Tanggung Jawab
     Members                            Position                                                     Duties & Responsibilities

  3 (tiga) anggota           Senior Auditor             Melaksanakan penilaian, efektifitas, dan efisiensi operasional perusahaan serta menjaga aset
  3 (three) members          Internal                   perusahaan dengan melalui proses pemeriksaan dan evaluasi semua aktifitas di dalam perusahaan
                             Senior Internal            sesuai dengan arahan dan program kerja yang ada serta analisa terhadap potensi terjadinya risiko
                             Auditor                    yang dapat mengakibatkan kerugian bagi perusahaan.
                                                        Carrying out assessments, evaluating the effectiveness and efficiency of the company's operations,
                                                        and safeguarding the company's assets through the process of examining and evaluating all
                                                        activities within the company in accordance with the established directives and work programs, as
                                                        well as analyzing potential risks that could result in losses for the company.


  2 (dua) anggota            Middle Auditor             Melaksanakan penilaian, efektifitas, dan efisiensi operasional perusahaan serta menjaga asset
  2 (two) members            Internal                   perusahaan dengan melalui proses pemeriksaan dan evaluasi semua aktifitas di dalam perusahaan
                             Middle Internal            sesuai dengan arahan dan program kerja yang ada.
                             Auditor                    Carrying out assessments, evaluating the effectiveness and efficiency of the company's operations,
                                                        and safeguarding the company's assets through the process of examining and evaluating all
                                                        activities within the company in accordance with the established directives and work programs.


  2 (dua) anggota            Junior Auditor             Membantu Middle Auditor Internal dan Senior Auditor Internal dalam melaksanakan penilaian,
  2 (two) members            Internal                   efektivitas, dan efisiensi operasional perusahaan serta menjaga aset perusahaan.
                             Junior Internal            Assisting the Middle Internal Auditor and Senior Internal Auditor in conducting assessments,
                             Auditor                    evaluating the effectiveness and efficiency of the company's operations, and safeguarding the
                                                        company's assets.



  Kedudukan Unit Audit Internal | Position of Internal Audit Unit
  a. Audit Internal dipimpin oleh seorang kepala yang disebut Kepala                   a. Head of Internal Audit supervises the Internal Audit unit. S/he is
     Audit Internal atau Head of Internal Audit. Secara struktural                          structurally responsible for reporting to President Director of the
     bertanggung jawab kepada Direktur Utama perusahaan dan                                 Company and holds functional relations with Audit Committee;
     mempunyai hubungan fungsional dengan Komite Audit;                                b. In carrying out assurance and consulting activities, a team is
  b. Dalam menjalankan kegiatan assurance dan konsultasi, dibentuk                          formed through an official assignment letter, with specific
     tim melalui surat tugas dengan jabatan fungsional dan waktu                            functional positions and timeframes, consisting of a person in
     tertentu yang susunannya adalah penanggung jawab, ketua tim                            charge, team leader, and team members;
     dan anggota tim;                                                                  c. The Head of Internal Audit is appointed and dismissed by the
  c. Kepala Audit Internal diangkat dan diberhentikan oleh Direktur                         President Director of the company with the approval of the Board
     Utama perusahaan dengan persetujuan Dewan Komisaris;                                   of Commissioners;
  d. Setiap pengangkatan, penggantian, dan pemberhentian Kepala                        d. Any appointment, replacement, and dismissal of the Head of
     Audit Internal segera diberitahukan kepada lembaga terkait,                            Internal Audit must be immediately communicated to relevant
     seperti Otoritas Jasa Keuangan dan lembaga lainnya;                                    authorities, such as the Financial Services Authority (OJK) and
  e. Pengangkatan dan pemberhentian staf Audit Internal harus                               other institutions;
     mempertimbangkan pendapat Kepala Audit Internal dengan                            e.   The appointment and dismissal of Internal Audit staff must take
     memperhatikan kompetensi & kriteria seorang auditor.                                   into account the opinion of the Head of Internal Audit, considering
                                                                                            the competence and criteria required for an auditor.
          Tata Kelola Perusahaan               Tanggung Jawab Sosial Perusahaan               Referensi                      Laporan Keuangan             185
          Corporate Governance                   Corporate Social Responsibility             References                     Financial Statements            5
Page 194
                                                                                                                               2024 Annual Report




Penunjukan Unit Audit Internal | Appointment of Internal Audit Unit
 Kepala Audit Internal ditunjuk oleh Direksi dengan persetujuan                 The Head of Internal Audit is appointed by the Board of Directors with
 Dewan Komisaris, dan bertanggung jawab kepada Direktur Utama,                  the approval of the Board of Commissioners and is responsible to the
 sesuai dengan surat Keputusan Direktur Utama tertanggal 8 Oktober              President Director, in accordance with the Decree of the President
 2012.                                                                          Director dated October 8, 2012.




Profil Kepala Audit Internal | Profile of the Head of Internal Audit Unit



                                                              Teguh Santoso
                                                              Ketua Audit Internal | Head of Internal Audit
                                                              Kewarganegaraan | Nationality                  Indonesia | Indonesian
                                                              Usia | Age                                     51 tahun per 31 Desember 2024
                                                                                                             51 years old as of 31 December 2024
                                                              Domisili | Domicile                            Surabaya




 Dasar Hukum Pengangkatan                   Diangkat kembali sebagai Kepala Audit Internal berdasarkan Keputusan Dewan Komisaris dan Direksi
 Legal Basis                                Perseroan tanggal 9 Januari 2018.
                                            Reappointed as Head of Internal Audit based on the Decree of the Company's Board of
                                            Commissioners and Directors dated January 9th, 2018.
 Riwayat Pekerjaan                          Ÿ   Akuntan Publik Tony Santoso & Co. (1996 – 2000)
 Work Experience                                 Public Accountant Tony Santoso & Co. (1996 – 2000)
                                            Ÿ   Kepala Akuntan PT Multi Prawn Indonesia (2000 – 2001)
                                                 Head of Accounting, PT Multi Prawn Indonesia (2000 – 2001)
                                            Ÿ   Internal Audit / Kontrol Internal, Supervisor Akuntan, Kontrol Proyek SAP dan Analis AP (Account Payable) PT
                                                HM Sampoerna Tbk (2001 – 2011)
                                                 Internal Audit/Internal Control, Accounting Supervisor, SAP Project Controller and AP Analyst, PT HM
                                                 Sampoerna Tbk (2001 – 2011)
 Riwayat Pendidikan                         S1, Sekolah Tinggi Ilmu Ekonomi Malangkucecwara, Malang, Indonesia
 Educational Background                     Bachelor’s degree, Institute of Economic Science Malangkucecwara, Malang, Jakarta (2000).
 Hubungan Afiliasi dengan anggota            Tidak memiliki afiliasi dengan sesama anggota Direksi, atau anggota Dewan Komisaris, atau dengan pemegang
 Dewan Komisaris lainnya, anggota Direksi   saham utama.
 atau pemegang saham utama                  Does not have any affiliations with fellow members of the Board of Directors, or members of the Board of
 Affiliate Relations with Board Members or   Commissioners, nor with the ultimate shareholder.
 Majority Shareholders
 Jumlah Kepemilikan Saham ISSP              -
 Share Ownership in ISSP




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  Kualifikasi Serta Sertifikasi | Qualification and Certification
  Unit Audit Internal memiliki Piagam Internal Audit sebagai acuan            The Internal Audit Unit has the Internal Audit Charter as a reference in
  dalam pelaksanaan tugasnya. Berikut susunan Unit Audit Internal :           the implementation of its duties. The composition of the Internal Audit
                                                                              Unit is as follows:

               Nama                                Jabatan                                 Latar Belakang Pendidikan                         Sertifikasi
               Name                               Designation                               Educational Background                          Certification

  Teguh Santoso                       Kepala Audit Internal                       S1, Ekonomi                                                       -
                                      Head of Internal Audit                      Bachelor of Economics
  Henry Kristomo                      Senior Auditor Internal                     S1, Teknik                                                        -
                                      Senior Internal Auditor                     Bachelor of Engineering
  Linggarwati                         Senior Auditor Internal                     S1, Ekonomi - Akuntansi                                           -
                                      Senior Internal Auditor                     Bachelor of Economics - Accounting
  Liestya Bima Wiratama               Pjs Senior Auditor Internal                 S1, Ekonomi - Manajemen                                           -
                                      Acting Senior Internal Auditor              Bachelor of Economics - Management
  I Ketut Alit Suryana Semara         Middle Auditor Internal                     S1, Ekonomi - Manajemen                                           -
                                      Middle Internal Auditor                     Bachelor of Economics - Management
  Elliza                              Middle Auditor Internal                     S1, Ekonomi - Akuntansi                                           -
                                      Middle Internal Auditor                     Bachelor of Economics - Accounting
  Bryan Mattheus Widyanata            Junior Auditor Internal                     S1, Ekonomi - Akuntansi                                           -
                                      Junior Internal Auditor                     Bachelor of Economics - Accounting
  Yosua Giovano Putra                 Junior Auditor Internal                     S1, Ekonomi - Akuntansi                                           -
                                      Junior Internal Auditor                     Bachelor of Economics - Accounting



  Program Pelatihan Unit Audit Internal | Internal Audit Unit Training Program
  Untuk melakukan pengembangan pengetahuan, mendukung                          To develop knowledge, support the implementation of their duties
  pelaksanaan tugas dan tanggung jawabnya serta meningkatkan                   and responsibilities and improve Internal Audit competencies, the
  kompetensi Audit Internal, berikut adalah pelatihan/workshop                 following are training/workshops/seminars during 2024:
  /seminar yang selama tahun 2024:

  No.              Program Pelatihan/Workshop/Seminar                                    Penyelenggara                                    Tanggal
                    Training/Workshop/Seminar Program                                      Organizer                                       Date

  1. Leadership Challenge In the Winning Mindset for Supervisor                              One GML                          12 - 13 September 2024
                                                                                                                              12 - 13 September 2024
  2. Project Management                                                                   Prasetya Mulya                       05 - 08 November 2024
                                                                                                                               05 - 08 November 2024
  3. HR for Non HR                                                            Pelatihan Internal | Internal Training                  29 November 2024
                                                                                                                                      29 November 2024
  4. Advance Risk Based Auditing                                           The Institute of Internal Auditors Indonesia        04 - 05 Desember 2024
                                                                                                                               04 - 05 December 2024
  5. Financial Auditing for Internal Auditors                              The Institute of Internal Auditors Indonesia        11 - 12 Desember 2024
                                                                                                                               11 - 12 December 2024
  6. Root Cause Analysis                                                   The Institute of Internal Auditors Indonesia        18 - 19 Desember 2024
                                                                                                                               18 - 19 December 2024



           Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan              Referensi                      Laporan Keuangan                    187
           Corporate Governance          Corporate Social Responsibility            References                     Financial Statements                   5
Page 196
                                                                                                                   2024 Annual Report




Audit Eksternal
External Audit


 Audit eksternal adalah audit yang dilakukan oleh badan di luar          External audit is an audit conducted by an independent body outside
 perusahaan (independen) yang telah memenuhi persyaratan untuk           the company, which meets the requirements to provide assurance on
 memberikan keyakinan atas keakuratan dan kelengkapan pencatatan         the accuracy and completeness of the company’s accounting records.
 akuntansi Perusahaan. Audit eksternal dilakukan untuk memastikan        The external audit is performed to ensure that the company’s
 bahwa pencatatan akuntansi Perusahaan yang disusun sesuai               accounting records are prepared in accordance with the provisions of
 dengan ketentuan Pernyataan Standar Akuntansi dan Keuangan              the Financial Accounting Standards (PSAK). External audits are
 (PSAK). Audit eksternal dilakukan oleh Akuntan Publik yang telah        carried out by a Public Accountant who has met the requirements set
 memenuhi persyaratan yang ditetapkan oleh undang-undang dan             by the applicable laws and regulations.
 peraturan yang berlaku.


 Berdasarkan RUPST Perseroan pada 28 Juni 2024 dan berdasarkan           Based on the Company’s Annual General Meeting of Shareholders
 rekomendasi dari Dewan Komisaris serta Komite Audit, RUPS               (RUPST) on June 28, 2024, and following recommendations from the
 memutuskan menunjuk kembali Kantor Akuntan Publik Kanaka                Board of Commissioners and the Audit Committee, the General
 Puradiredja, Suhartono (firma anggota jaringan Nexia International).     Meeting of Shareholders (RUPS) decided to reappoint the Public
 Firma ini tidak memberikan jasa yang tidak terkait audit untuk          Accounting Firm Kanaka Puradiredja, Suhartono (a member firm of
 Perseroan selama tahun berjalan.                                        Nexia International network). This firm does not provide non-audit
                                                                         services to the company during the current year.




Periode dan Biaya | Period and Fee
 Selama 6 (enam) tahun terakhir, Akuntan Publik yang ditunjuk oleh       For the last 6 (six) years, Public Accountants appointed by the
 Perseroan guna melakukan Audit secara independen yakni:                 Company to conduct an independent audit are:


           Akuntan Publik                                     Rekan                                Year Period                   Biaya Audit
          Public Accountant                               Signing Partner                         Periode Tahun                   Audit Fee

 Kanaka Puradiredja, Suhartono                Tan Siddharta, S.E., M.M., C.P.A., C.A.                      2024            Rp 630.000.000,00
 (a member of Nexia International)                                                                                         IDR 630,000,000.00
 Kanaka Puradiredja, Suhartono                Tan Siddharta, S.E., M.M., C.P.A., C.A.                      2023            Rp 600.000.000,00
 (a member of Nexia International)                                                                                         IDR 600,000,000.00
 Kanaka Puradiredja, Suhartono                Tan Siddharta, S.E., M.M., C.P.A., C.A.                      2022            Rp 600.000.000,00
 (a member of Nexia International)                                                                                         IDR 600,000,000.00
 Kanaka Puradiredja, Suhartono                Adeyana Widjaja                                              2021            Rp 600.000.000,00
 (a member of Nexia International)                                                                                         IDR 600,000,000.00
 Kanaka Puradiredja, Suhartono                Adeyana Widjaja                                              2020            Rp 600.000.000,00
 (a member of Nexia International)                                                                                         IDR 600,000,000.00



 Jasa Lain | Other Services

 Selama tahun buku 2024, Kantor Akuntan Publik dan/atau Akuntan          During the financial year 2024, the Public Accountant Firm and/or
 Publik yang melakukan audit eksternal tidak memberikan jasa lain        Public Accountant that performed an external audit did not provide
 kepada Perseroan.                                                       any other services to the Company.




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  Mekanisme Penunjukan | Appointment Mechanism
  Penunjukan Akuntan Publik yang dilakukan oleh Perseroan mengikuti        The appointment of the Public Accountant by the Company follows
  mekanisme sebagai berikut:                                               the following mechanism:
  1.   Hasil evaluasi Komite Audit terhadap Kantor Akuntan Publik atas     1. The evaluation results of the Audit Committee regarding the
       pelaksanaan audit Laporan Keuangan Tahun Buku 2023 yang                Public Accounting Firm’s performance in auditing the 2023
       telah disampaikan ke OJK.                                              Financial Statements, which have been submitted to the OJK.
  2.   Rekomendasi Komite Audit berkenaan dengan penunjukan                2. The recommendation of the Audit Committee regarding the
       Akuntan Publik sebagai dasar untuk melakukan pengadaan                 appointment of the Public Accountant, which serves as the basis
       jasanya.                                                               for procuring their services.
  3.   Dewan Komisaris menyetujui penunjukan Kantor Akuntan Publik         3. The Board of Commissioners approves the appointment of the
       untuk melaksanakan audit atas Laporan Keuangan Konsolidasi-            Public Accounting Firm to conduct the audit of the Company’s
       an Perseroan untuk Tahun Buku 2024.                                    Consolidated Financial Statements for the fiscal year 2024.
  4.   Dewan Komisaris mengusulkan kepada RUPST yang diadakan              4. The Board of Commissioners proposes to the Annual General
       pada 28 Juni 2024 untuk menyetujui penunjukan Kantor                   Meeting of Shareholders (RUPST) held on June 28, 2024, to
       Akuntan Publik yang ditugaskan mengaudit Laporan Keuangan              approve the appointment of the Public Accounting Firm tasked
       Konsolidasian Tahun Buku 2024.                                         with auditing the Consolidated Financial Statements for the fiscal
  5.   Penunjukan Akuntan Publik dan/atau Kantor Akuntan Publik atas          year 2024.
       Informasi Keuangan Historis Tahunan SPINDO pada tahun buku          5. The appointment of the Public Accountant and/or Public
       yang berakhir pada 31 Desember 2024 dan telah dilaporkan ke            Accounting Firm for the annual historical financial information of
       OJK.                                                                   SPINDO for the fiscal year ending December 31, 2024, which has
                                                                              been reported to the OJK.




           Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan         Referensi                      Laporan Keuangan             189
           Corporate Governance          Corporate Social Responsibility       References                     Financial Statements            5
Page 198
                                                                                                                      2024 Annual Report




Sistem Pengendalian Internal
Internal Control System



 Sistem Pengendalian Internal merupakan metode, kebijakan, dan              The Internal Control System is a coordinated method, policy, and
 prosedur yang terkoordinasi di dalam perusahaan untuk                      procedure within the company designed to safeguard the company’s
 mengamankan kekayaan perusahaan, menguji ketepatan, ketelitian,            assets, assess the accuracy, precision, and reliability of accounting
 dan keandalan catatan / data akuntansi serta untuk mendorong               records/data, and promote adherence to management policies.
 ditaatinya kebijakan manajemen.


 Sistem pengendalian internal Perseroan dijabarkan dalam bentuk             The company's internal control system is outlined in a plan that covers
 perencanaan yang meliputi seluruh kegiatan operasional Perseroan           all operational activities with the goal of maintaining the existence
 dengan tujuan menjaga eksistensi dan keamanan harta milik                  and security of the company’s assets, verifying the accuracy of
 Perseroan, memeriksa kebenaran data akuntansi, dan mendorong               accounting data, and encouraging compliance with all management
 dipatuhinya seluruh kebijakan-kebijakan manajemen yang telah               policies that have been established. To achieve this, the company is
 ditetapkan. Untuk dapat mencapai hal tersebut, dalam menjalankan           led by Directors who are highly experienced in the company's core
 kegiatan usahanya Perseroan dipimpin oleh para Direksi yang sangat         business, supported by managers who are experienced, highly
 berpengalaman dalam core business perusahaan, dibantu oleh para            integrated, and competent in their respective fields. Additionally, the
 manajer yang berpengalaman, memiliki integritas yang tinggi, dan           company continually adjusts its operational activities by leveraging
 berkompeten di bidangnya masing-masing. Selain itu, Perseroan              the latest technology advancements in finance, production, and
 selalu menyesuaikan kegiatan operasionalnya dengan memanfaat-              marketing.
 kan perkembangan teknologi terkini baik dalam keuangan, produksi,
 maupun bidang pemasaran.


 Pelaksanaan sistem pengendalian internal (Internal Control System)         The implementation of the company's Internal Control System adapts
 Perseroan mengadaptasi framework internal control dari COSO                the internal control framework from COSO (Committee of Sponsoring
 (Committee of Sponsoring Organizations of the Treadway                     Organizations of the Treadway Commission), which includes 5 main
 Commission) yang memiliki 5 komponen utama, dan 17 prinsip untuk           components and 17 principles to support achieving objectives such
 mendukung tercapainya, yaitu antara lain kepatuhan terhadap                as compliance with existing policies and procedures and the
 kebijakan dan prosedur yang ada dan penerapan internal kontrol             application of effective internal controls in the company’s operations,
 yang efektif dalam operasional perusahaan, sebagai berikut:                as follows:




5 (Lima) Komponen COSO                                     Framework COSO: 17 (tujuh belas) Prinsip Efektif Internal Control
5 (Five) COSO Components                                  COSO Framework: 17 (seventeen) Principles of Effective Internal Control

 Control Environment                                      1. Komitmen terhadap integritas dan nilai etika.
                                                               Demonstrate commitment to integrity and ethical values.
                                                          2. Melaksanakan tanggung jawab pengawasan.
                                                               Ensure the board to exercise oversight responsibility.
                                                          3. Menerapkan struktur wewenang dan tanggung jawab.
                                                               Establish a structure, authorities and responsibilities.
                                                          4. Komitmen terhadap kompetensi.
                                                               Demonstrate commitment to competency.
                                                          5. Mendorong akuntabilitas atas sistem internal control.
                                                               Promote accountability on internal control system.




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  5 (Lima) Komponen COSO                                          Framework COSO: 17 (tujuh belas) Prinsip Efektif Internal Control
  5 (Five) COSO Components                                       COSO Framework: 17 (seventeen) Principles of Effective Internal Control


  Risk Assessment                                                6. Menentukan tujuan.
                                                                      Establish objectives.
                                                                 7. Mengidentifikasi dan menganalisis risiko.
                                                                      Identify and analyze risks.
                                                                 8. Menilai risiko fraud.
                                                                      Evaluate fraud risks.
                                                                 9. Mengidentifikasi dan menganalisis perubahan signifikan.
                                                                      Identify and analyze significant changes.
  Control Activities                                             10. Mengembangkan kegiatan pengendalian.
                                                                      Develop control activities.
                                                                 11. Mengembangkan kontrol umum atas teknologi.
                                                                      Develop general control over technology.
                                                                 12. Merinci kepada kebijakan dan prosedur.
                                                                      Specify policies and procedures.
  Information & Communication                                    13. Menggunakan informasi yang relevan.
                                                                      Use relevant information.
                                                                 14. Komunikasi internal yang efektif.
                                                                      Effective internal communication.
                                                                 15. Komunikasi eksternal yang efektif.
                                                                      Effective internal communication.
  Monitoring Activities                                          16. Evaluasi berkelanjutan dan/atau terpisah.
                                                                      Continuous and/or separated evaluation.
                                                                 17. Mengevaluasi dan melaporkan setiap kekurangan.
                                                                      Evaluate and report every deficiency.




  Evaluasi dan Kecukupan Sistem Pengendalian Internal |
  Evaluation and Adequacy of the Internal Control System

  Evaluasi atas sistem pengendalian internal di lingkungan Perseroan              The evaluation of the internal control system within the company is
  dilakukan oleh Unit Audit Internal yang selanjutnya hasil tersebut              conducted by the Internal Audit unit, and the results are subsequently
  akan dieskalasi ke Direksi. Direksi menilai sistem pengendalian                 escalated to the Board of Directors. The Board of Directors assesses
  internal yang dilakukan oleh Perseroan telah berjalan baik dan cukup.           that the internal control system implemented by the company is
  Namun Perseroan akan tetap melakukan pengembangan, evaluasi                     functioning well and is adequate. However, the company will
  dan perbaikan yang dilakukan secara terus-menerus agar lebih                    continue to make ongoing developments, evaluations, and
  optimal.                                                                        improvements to make it more optimal.




             Tata Kelola Perusahaan    Tanggung Jawab Sosial Perusahaan                  Referensi                    Laporan Keuangan             191
             Corporate Governance        Corporate Social Responsibility                References                   Financial Statements            5
Page 200
                                                                                                                         2024 Annual Report




Manajemen Resiko
Risk Management



 Dalam menjalankan kegiatannya, Perseroan menghadapi risiko                    In its operations, the Company faces business risks and other risks
 usaha dan risiko lain yang berada di luar jangkauan Perseroan. Seiring        that are beyond its control. As the Company continues to develop, the
 dengan perkembangan Perseroan, maka risiko yang harus dihadapi                risks it must face become more extensive and varied. Management is
 Perseroan pun semakin meluas dan bervariatif. Dituntut kemampuan              required to have excellent capabilities in identifying, analyzing, and
 yang prima dari pihak manajemen untuk melakukan proses                        evaluating risks so that these risks can be recognized and controlled
 identifikasi, analisis, dan evaluasi atas risiko agar risiko-risiko tersebut   appropriately. The overall objective of the Company’s risk
 dapat dikenali dan dikendalikan dengan tepat. Tujuan manajemen                management is to effectively control these risks and minimize any
 risiko Perseroan secara keseluruhan adalah untuk mengendalikan                potential impact that may lead to further losses.
 risiko-risiko secara efektif dan meminimalisir pengaruh yang dapat
 menimbulkan kerugian lebih lanjut.


 Manajemen Risiko menjadi bagian yang tidak kalah penting dalam                Risk management plays a crucial role in establishing good corporate
 menciptakan tata kelola perusahaan yang baik. Penerapan prinsip-              governance. The application of GCG principles is expected to
 prinsip GCG diharapkan mampu mendorong akurasi dalam                          encourage accuracy in risk identification and mitigation. As a result,
 menyusun dan memitigasi risiko. Sehingga kegiatan pengelolaan                 the Company’s operations can run smoothly, enhancing both
 Perusahaan berjalan lancar dan mampu meningkatkan kinerja                     operational and financial performance.
 operasional dan keuangan Perseroan.


 Sebagai salah satu Perusahaan yang memproduksi pipa dengan                    As a company that produces various types of pipes, the Company
 berbagai jenis, Perseroan menyadari bahwa risiko yang sedang dan              acknowledges that the risks it is currently facing and will face in the
 akan dihadapi merupakan keniscayaan dalam menjalankan bisnis.                 future are inevitable in running a business. In the context of SPINDO,
 Risiko dalam konteks SPINDO merupakan suatu kejadian potensial,               risk refers to a potential event, both anticipated and unanticipated,
 baik yang dapat diperkirakan (anticipated) maupun yang tidak                  that has a negative impact on growth, revenue, and operations.
 diperkirakan (unanticipated) yang berdampak negatif terhadap
 pertumbuhan, pendapatan, dan operasional.


 Manajemen risiko dirancang untuk mengidentifikasi kejadian                     Risk management is designed to identify potential events (risks) that
 potensial (risiko) yang dapat mempengaruhi Perseroan untuk                    may affect the Company and to manage them in such a way that they
 kemudian dikelola sedemikian rupa agar sesuai dengan risk appetite            align with the Company's risk appetite (tolerance for risk).
 (toleransi terhadap risiko).




No.                    Jenis Risiko                                                               Mitigasi
                       Type of Risk                                                              Mitigation

 1.      Risiko fluktuasi harga akibat kelebihan Ÿ Melakukan pengelolaan persediaan yang efektif dan efisien.
         pasokan baja dunia                              To manage supplies effectively and efficiently.
         Risks of price fluctuation due to global Ÿ Melakukan pemilihan vendor yang terpercaya sehingga keandalan pesanan terjaga dengan
         steel oversupply                               harga yang bersaing.
                                                         To conduct vendor selection that is trustworthy so the reliability of orders is preserved with
                                                         competitive price.




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 No.                     Jenis Risiko                                                                  Mitigasi
                         Type of Risk                                                                 Mitigation

 2.     Risiko keterlambatan proyek                   Ÿ Melakukan pendekatan dan pertemuan berkala dengan pemilik proyek untuk senantiasa
        Risks of project delay                            mendapatkan kondisi terkini dari perencanaan proyek.
                                                          To conduct periodic approach and meeting with project owner to constantlyacquire the
                                                          latest condition of the project planning.
                                                      Ÿ Secara proaktif melakukan koordinasi dengan kontraktor utama dan kontraktor-kontraktor
                                                          pelaksana.
                                                          Proactive coordination with main contractors and the managing contractors.
 3.     Risiko perlemahan daya beli                   Ÿ Secara lebih intensif melakukan penjualan kepada pelanggan dengan kategori end user
        masyarakat                                        yang memiliki proses penjualan yang lebih pendek.
        Risks of the weakening public’s                   Intensify sales to customers of the end-user category that has shorter sales process.
        spending power                                Ÿ Mengoptimalisasi kinerja Divisi Marketing.
                                                          Optimize the performance of Marketing Division.
                                                      Ÿ   Memberikan edukasi produk melalui jalur digital yang telah tersedia.
                                                          Provide product education through the available digital channels.


 Kebijakan Manajemen Risiko | Risk Management Policy
 Untuk saat ini, Perseroan belum memiliki pedoman manajemen risiko               Currently, the Company has yet to have a formal risk management
 secara formal, akan tetapi prinsip manajemen risiko telah tertuang              guidelines however the principles of risk management have all been
 pada Pedoman Tata Kelola Perusahaan yang ditandatangani oleh                    incorporated in its Corporate Governance Guidelines signed by all
 seluruh Dewan Komisaris dan Direksi pada 9 Januari 2018.                        members of the Board of Commissioners and Directors on January 9th,
                                                                                 2018.

 Sistem Manajemen Risiko | Risk Management System
 Sistem Manajemen Risiko Perseroan terus berupaya menyempurna-                   The Company continues to seek for the improvement of the existing
 kan Sistem Manajemen Risiko yang ada. Perseroan sedang                          Risk Management System. The Company has drafted and built a risk
 menyusun dan membangun sistem manajemen risiko yang sesuai                      management system in accordance with the line of business and
 dengan bidang usaha dan kondisi operasional. Sistem Manajemen                   operational conditions. Risk Management System shall refer to the
 Risiko akan mengacu pada kerangka kerja COSO-ERM yang                           COSO-ERM Framework as illustrated in the following diagram:
 tergambar dalam diagram berikut:




                                    Strategic                                                Subsidiary
                                    Operations                                               Business Unit
                                    Reporting                                                Division
                                    Compliance                                               Entity Level

 Internal Environment                   Event Identification                  Risk Response                         Information & Communication
 Objective Setting                      Risk Assessment                      Control Activities                    Monitoring



          Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan                 Referensi                      Laporan Keuangan         193
          Corporate Governance             Corporate Social Responsibility               References                     Financial Statements        5
Page 202
                                                                                                                      2024 Annual Report



 Kerangka kerja Enterprise Risk Management (ERM) ini akan memiliki         The framework for Enterprise Risk Management (ERM) will have four
 4 sasaran utama, yakni:                                                   main objectives, as follows:


 Strategis                                                                 Strategic
 Sasaran strategi ditetapkan untuk memberikan dukungan dalam               The strategic objective is set to provide support in the execution and
 pelaksanaan dan pencapaian misi Perusahaan, sehingga tujuan yang          achievement of the Company's mission, ensuring that the established
 ditetapkan menjadi selaras dengan pelaksanaan operasional yang            goals align with the operational activities carried out by the Company.
 dijalankan oleh Perusahaan.


 Operasi                                                                   Operational
 Sasaran operasi diperlukan dalam pemanfaatan semua sumber daya            The operational objective is necessary for the effective and efficient
 yang dimiliki oleh perusahaan secara efektif dan efisien, sehingga         utilization of all resources owned by the company, ensuring these
 sumber daya tersebut dapat lebih tepat guna.                              resources are used appropriately and optimally.


 Pelaporan                                                                 Reporting
 Sasaran pelaporan adalah dapat dipercayainya laporan yang                 The reporting objective is to ensure the reliability of the reports issued
 diterbitkan perusahaan, khususnya untuk kepentingan pelaporan             by the company, particularly for external reporting purposes (to
 dengan pihak eksternal (Pemangku Kepentingan & Pemegang Saham).           Stakeholders & Shareholders).


 Kepatuhan                                                                 Compliance
 Sasaran kepatuhan adalah terpenuhinya ketentuan dan persyaratan           The compliance objective is to ensure that the applicable legal and
 hukum dan regulasi yang berlaku. Sasaran utama tersebut kemudian          regulatory requirements are met. These primary objectives are then
 dituangkan dalam 8 tahapan atau skema kerja, yakni:                       outlined in eight stages or work schemes, which are:


 Lingkungan Internal                                                       Internal Environment
 Manajemen risiko yang dilakukan oleh perusahaan merupakan suatu           The risk management carried out by the company is a form of risk
 bentuk pengelolaan risiko yang terjadi di dalam lingkungan internal       management that occurs within the company's internal environment.
 Perusahaan. Elemen yang mempengaruhi lingkungan internal antara           Elements that influence the internal environment include the value
 lain sistem nilai yang dianut oleh Perusahaan, gaya kepemimpinan          system adhered to by the company, management's leadership style,
 manajemen, pola penentuan keputusan, dan pola penentuan                   decision-making patterns, and the delegation of authority and
 wewenang dan tanggung jawab manajemen. Hal ini berdampak                  responsibility within management. These factors affect the level of
 terhadap bentuk tingkat risiko yang dapat diterima (risk appetite),       acceptable risk (risk appetite), risk tolerance, risk culture, and the
 tingkat toleransi risiko, budaya risiko, dan implementasi ERM.            implementation of ERM.


 Penetapan Tujuan                                                          Objective Setting
 Tujuan harus ditetapkan lebih awal sebelum manajemen Perusahaan           Objectives must be set early before the company's management
 memutuskan mengidentifikasi risiko-risiko yang telah ada, sehingga         decides to identify existing risks, so that these risks can be mitigated,
 diharapkan risiko-risiko tersebut selanjutnya dapat dimitigasi,           allowing the company to achieve its goals. The company's objectives
 sehingga tujuan Perusahaan dapat tercapai. Tujuan Perusahaan              can be identified as strategic, operational, compliance, and reporting
 dapat diidentifikasi ke dalam tujuan yang sifatnya strategis,              objectives.
 operasional, pemenuhan, dan pelaporan.


 Identifikasi Kejadian                                                      Event Identification
 Seluruh kejadian baik yang datangnya dari dalam Perusahaan                All events, whether internal (from within the company) or external
 (internal) maupun dari luar Perusahaan (eksternal) yang berpotensi        (from outside the company), that potentially influence the
 mempunyai pengaruh terhadap sasaran yang hendak dicapai, maka             achievement of objectives, must be identified to recognize the risks
 harus diidentifikasi berbagai risiko yang dapat timbul. Identifikasi        that may arise. Risk identification can be done through various
 risiko ini dapat dilakukan dengan berbagai cara, di antaranya melihat     methods, including analyzing trends, reviewing past events
 analisis kecenderungan (tren), analisis atas kejadian masa lalu           (historical analysis), or projecting future scenarios.
 (historis), ataupun dengan analisis proyeksi masa depan.


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  Penilaian Risiko                                                          Risk Assessment
  Dalam penilaian risiko, perusahaan melakukan penilaian berbagai           In the risk assessment process, the company evaluates various levels
  tingkat dan besarnya risiko yang dapat berpengaruh terhadap               and magnitudes of risks that could impact the achievement of the
  pencapaian tujuan Perusahaan. Risiko-risiko tersebut dapat                company's objectives. These risks are determined based on the
  ditentukan berdasarkan kemungkinan keterjadiannya (likelihood) dan        likelihood of their occurrence and the potential impact they may have,
  dampak yang ditimbulkannya sehingga dapat diperhitungkan                  allowing for the calculation of mitigation measures, starting with the
  mitigasi penyelesaiannya dimulai dari tingkat dan besarnya risiko         highest to the lowest level of risk.
  yang paling tinggi sampai terendah.


  Perlakuan Risiko                                                          Risk Treatment
  Tahap selanjutnya melakukan perlakuan risiko yang tepat untuk             The next step involves determining the appropriate risk treatment for
  setiap risiko yang terjadi, menentukan tingkat toleransi risiko           each identified risk, assessing the risk tolerance level, and
  tersebut, dan menentukan berbagai alternatif penyelesaian risiko-         determining various alternative solutions for managing the identified
  risiko yang teridentifikasi. Terdapat beberapa perlakuan risiko yang       risks. There are several risk treatments, including avoiding, accepting,
  timbul yaitu menghindar, menerima, mengurangi, dan membagi risiko         reducing, or sharing the risk with other parties.
  kepada berbagai pihak.


  Aktivitas Pengendalian                                                    Control Activities
  Dalam aktivitas pengendalian dilakukan penerapan atas kebijakan           In control activities, the company implements policies and procedures
  dan prosedur yang telah ditetapkan perusahaan yang dimaksudkan            that have been established to ensure that risks are treated effectively,
  untuk memastikan bahwa risiko-risiko telah diperlakukan secara            and that mitigation processes are carried out properly. The next step
  efektif, sehingga proses mitigasi terlaksana dengan baik. Tahap           is to develop and enhance an integrated development system within
  selanjutnya menyusun dan mengembangkan sistem pengembangan                the company.
  Perusahaan yang terintegrasi.


  Informasi dan Komunikasi                                                  Information and Communication
  Informasi yang berkaitan dengan pencapaian tujuan perusahaan              Information related to the achievement of the company’s objectives is
  diidentifikasi apakah berdampak langsung atau tidak, dikelompokkan         identified to determine whether it has a direct or indirect impact. It is
  ke dalam berbagai jenisnya, dan didistribusikan atau dikomunikasi-        categorized into various types and distributed or communicated
  kan melalui media komunikasi yang tepat dengan waktu yang tepat           through the appropriate communication channels at the right time so
  pula sehingga setiap individu perusahaan dapat menjalankan tugas          that each individual within the company can perform their tasks and
  dan tanggung jawabnya dengan lebih baik.                                  responsibilities more effectively.


  Pemantauan                                                                Monitoring
  Tahap terakhir yaitu melakukan pemantauan atas semua aktivitas            The final step involves monitoring all risk control activities that have
  pengendalian risiko yang telah dilakukan untuk menjamin bahwa             been conducted to ensure that risks have been properly mitigated.
  risiko-risiko telah dimitigasi dengan baik. Selain itu, mempertimbang-    Additionally, both historical data, current data, and future forecast
  kan juga data-data yang diperoleh baik berupa data historis, data saat    data are considered. Historical data is intended to track past
  ini, maupun data berupa peramalan masa depan. Data historis               performance in relation to targets, plans, and expectations. Current
  dimaksudkan untuk melacak kinerja masa lalu terkait pencapaian            data provides additional information, while future data helps refine
  target, rencana, dan ekspektasinya. Data saat ini menyajikan              the analysis. The results of the monitoring are then re-evaluated for
  informasi tambahan dan data masa depan untuk penyempurnaan                further improvements and further development to achieve a better
  analisa informasi. Dari hasil pemantauan selanjutnya dievaluasi           implementation of the organizational system.
  kembali untuk penyempurnaan lebih lanjut kemudian dikembangkan
  untuk menghasilkan pelaksanaan sistem organisasi yang lebih baik.




          Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan          Referensi                         Laporan Keuangan           195
          Corporate Governance            Corporate Social Responsibility        References                        Financial Statements          5
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                                                                                                                                 2024 Annual Report




Evaluasi Efektivitas dan Kecukupan Sistem Manajemen Risiko |
Evaluation of Risk Management System Effectiveness and Adequacy
 Perseroan melalui unit terkait secara aktif melakukan evaluasi terhadap risiko-   The Company, through the relevant units, actively conducts evaluations of
 risiko sepanjang tahun berjalan. Evaluasi dan peninjauan Manajemen Risiko         risks throughout the year. The evaluation and review of Risk Management aim
 bertujuan untuk menentukan level risiko dan mengidentifikasi kemungkinan           to determine the level of risk, identify the potential emergence of new risks,
 munculnya risiko baru serta mencari mitigasi risiko yang harus dilakukan          and find the necessary risk mitigation measures to address those risks.
 dalam menanggulangi risiko tersebut.


 Efektivitas manajemen risiko dilakukan dinilai berdasarkan seberapa besar         The effectiveness of risk management is assessed based on how well the
 penanganan/mitigasi yang dilakukan dapat mengurangi risiko. Selanjutnya           mitigation efforts can reduce the risks. An assessment will then be conducted
 akan dilakukan asesmen guna mengetahui kekurangan pelaksanaan                     to identify any shortcomings in the implementation of risk management as a
 manajemen risiko secara menyeluruh. Ini dilakukan sebagai dasar untuk             whole. This serves as the basis for making improvements in the future.
 melakukan peningkatan di masa mendatang.


 Selama periode 2024, Direksi menilai Sistem Manajemen Risiko cukup                During the 2024 period, the Board of Directors assessed that the Risk
 berjalan dengan baik. Parameter yang dapat terlihat dan terukur adalah dari       Management System was functioning adequately. The measurable and
 peningkatan penjualan yang terus berlangsung secara konsisten.                    observable parameter is the consistent increase in sales over time.



Masalah Hukum | Material Litigation
 Perseroan maupun anak perusahaannya, para anggota Direksi atau Dewan              The Company, as well as its subsidiaries, and the members of the Board of
 Komisaris yang sedang menjabat, tidak terlibat dalam kasus hukum apapun           Directors or the Board of Commissioners currently in office, were not involved
 pada tahun 2024 yang dapat mempengaruhi kondisi Perseroan.                        in any legal cases in 2024 that could affect the condition of the Company.



Sanksi Administratif | Administrative Sanctions
 Tidak ada sanksi administratif yang diterima oleh Perseroan selama 2024.          No material administrative sanction was received by the Company during
                                                                                   2024.




Akses Informasi | Access to Information
 Informasi terkini mengenai aksi korporasi, laporan triwulanan dan tahunan,        The latest information on corporate actions, quarterly and annual results and
 pergerakan harga saham, serta siaran pers, presentasi, dan informasi              share price movements, as well as press releases, presentations and other
 korporasi lainnya, tersedia di situs web kami, www.spindo.com. Pertanyaan         corporate information, is available on our website, www.spindo.com.
 dapat dilakukan setiap saat melalui:                                              Inquiries may be made at any time via:




                                                    PT Steel Pipe Industry of Indonesia Tbk

              Sekretaris Perseroan & Hubungan Investor                                                           Pemasaran
               Corporate Secretary & Investor Relations                                                           Marketing

         SPINDO Jakarta Office                                                                       SPINDO Surabaya Office
         Gedung Baja Lt. 7 Jl. Pangeran Jayakarta No. 55                                            Head Office
         Jakarta Pusat 10730, Indonesia                                                             Jl. Kalibutuh No. 189-191, Surabaya, Indonesia
         Telp. +6221 62313502 | Fax. +6221 6012361                                                  Telp. +6231 5320320 | Fax. +6231 5310712
         Email: corsec@spindo.co.id                                                                 Email: marketing@spindo.co.id




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 Pedoman Perilaku
 Code of Conduct


  Sebagai salah satu produsen pipa baja dan stainless steel di               As one of the producers of steel and stainless steel pipes in Indonesia,
  Indonesia, SPINDO sebagai Perusahaan Terbuka berkomitmen untuk             SPINDO, as a public company, is committed to adhering to and
  menaati dan patuh kepada seluruh ketentuan peraturan perundang-            complying with all applicable laws and regulations, including Law No.
  undangan yang berlaku, di antaranya adalah Undang-undang No. 40            40 of 2007 on Limited Liability Companies and other laws related to
  Tahun 2007 tentang Perseroan Terbatas dan undang-undang lain               the rights and obligations of the company. As a form of accountability
  yang berkaitan dengan hak dan kewajiban perusahaan. Sebagai                to all stakeholders, SPINDO is committed to implementing the
  bentuk pertanggung- jawaban kepada seluruh Stakeholders,                   principles of Good Corporate Governance (GCG) based on the
  SPINDO berkomitmen untuk melaksanakan prinsip-prinsip Good                 Business Ethics and Work Ethics Guidelines.
  Corporate Governance (GCG) atau Tata Kelola Perusahaan Yang Baik
  dengan berlandaskan pada Pedoman Etika Bisnis dan Etika Kerja.


  Pedoman perilaku dan compliance ini memberikan arahan kepada               These behavioral and compliance guidelines provide direction to all
  setiap pejabat dan karyawan di SPINDO mengenai cara bertindak              officers and employees at SPINDO on how to act in accordance with
  sesuai dengan ketentuan-ketentuan standar etika, yaitu Etika Bisnis        ethical standards, namely Business Ethics and Work Ethics. Both of
  dan Etika Kerja. Kedua hal tersebut memiliki tujuan sebagai berikut:       these have the following objectives:
  1.   Mewujudkan standar kerja yang sesuai dengan Tata Kelola               1.   To establish work standards in line with Good Corporate
       Perusahaan Yang Baik dan tepat bagi seluruh jajaran Dewan                  Governance principles that are suitable for the entire Board of
       Komisaris, Direksi, dan karyawan SPINDO dengan tetap                       Commissioners, Board of Directors, and employees of SPINDO
       berpedoman pada aturan yang berlaku, sebagai komitmen                      while adhering to applicable regulations, as a joint commitment
       bersama untuk mewujudkan Visi dan me-laksanakan Misi                       to realize the company's Vision and execute its Mission in a
       perusahaan secara profesional dan beretika, dengan                         professional and ethical manner, considering all stakeholders;
       memperhatikan seluruh stakeholders;                                   2.   To minimize risks that could lead to conflicts of interest or
  2.   Meminimalisir segala risiko yang mengakibatkan terjadinya                  negligence by the Board of Commissioners, Board of Directors,
       konflik kepentingan maupun kelalaian yang dilakukan oleh                    and employees of SPINDO;
       seluruh jajaran Dewan Komisaris, Direksi, dan karyawan                3.   To define the Core Values as an ethical foundation that must be
       SPINDO;                                                                    followed by the entire Board of Commissioners, Board of
  3.   Menjabarkan Tata Nilai sebagai landasan etika yang harus diikuti           Directors, and employees of SPINDO in carrying out their duties.
       oleh seluruh jajaran Dewan Komisaris, Direksi, dan karyawan
       SPINDO dalam melaksanakan tugas.


  Etika bisnis adalah bagian utama dari tata kelola perusahaan untuk         Business ethics is a key component of corporate governance for
  mencapai keberhasilan jangka panjang. Sementara, Etika Kerja               achieving long-term success. Meanwhile, Work Ethics serves as a
  adalah pedoman perilaku yang menjadi acuan bagi organ                      behavioral guideline for the company's organs and employees in
  perusahaan dan karyawan dalam menerapkan nilai-nilai perusahaan,           implementing the company's values. When consistently applied,
  yang jika diterapkan secara berkelanjutan akan menjadi budaya              these values become part of the company culture. Thus, Business
  perusahaan, maka Etika Bisnis dan Etika Kerja memiliki manfaat             Ethics and Work Ethics provide benefits as a reference or behavioral
  sebagai acuan atau landasan perilaku seluruh pejabat dan karyawan          foundation for all officers and employees of SPINDO, creating a
  SPINDO, menciptakan suasana dan lingkungan kerja yang kondusif,            conducive, healthy, and comfortable work environment, and shaping
  sehat dan nyaman, dan untuk membentuk karakter individu di dalam           individuals within SPINDO who are ethical and have integrity when
  lingkungan SPINDO yang berintegritas dan beretika ketika                   interacting with others.
  berinteraksi dengan sesama individu.




           Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan           Referensi                     Laporan Keuangan              197
           Corporate Governance            Corporate Social Responsibility         References                    Financial Statements             5
Page 206
                                                                                                                               2024 Annual Report


Etika Bisnis | Business Ethics
 Etika bisnis menjelaskan standar perilaku yang ditetapkan SPINDO                   Business ethics explains the standards of behavior set by SPINDO in
 dalam bersikap/berinteraksi dan bertindak bila berhubungan dengan                  behaving / interacting and acting when dealing with parties with an
 pihak-pihak yang berkepentingan dengan SPINDO (Stakeholders).                      interest in SPINDO (Stakeholders). Basic business ethics standards
 Pokok standar etika bisnis meliputi:                                               include:
 1.    Etika perusahaan dengan karyawan;                                            1.   Company ethics to employees;
 2.    Etika perusahaan dengan serikat pekerja/karyawan;                            2.   Company ethics to labor union/employee;
 3.    Etika perusahaan dengan anak perusahaan/perusahaan                           3.   Company ethics to subsidiaries/joint ventures;
       patungan;                                                                    4.   Company ethics to vendors/suppliers;
 4.    Etika perusahaan dengan vendor/supplier;                                     5.   Company ethics to customers;
 5.    Etika perusahaan dengan pelanggan;                                           6.   Company ethics to competitors;
 6.    Etika perusahaan dengan pesaing;                                             7.   Company ethics to mass media and mass media usage;
 7.    Etika perusahaan dengan media massa dan penggunaan media                     8.   Company ethics to financial institutions and banking;
       massa;                                                                       9.   Company ethics to shareholders.
 8.    Etika perusahaan dengan lembaga keuangan dan Perbankan;                      10. Company ethics to society.
 9.    Etika perusahaan dengan pemegang saham;                                      11. Company ethics to regulators.
 10. Etika perusahaan dengan masyarakat;                                            12. Company ethics related to capital market practices and insider
 11. Etika perusahaan dengan regulator;                                                  trading.
 12. Etika perusahaan terkait praktik pasar modal dan insider                       13. Company ethics related to gratification and corruption.
       trading;
 13. Etika perusahaan terkait gratifikasi dan korupsi.


Etika Kerja | Work Ethics
 Etika kerja adalah standar perilaku kerja, sistem nilai atau norma yang            Work ethic is a standard of work behavior, value system or norms
 dipergunakan Dewan Komisaris, Direksi, dan Karyawan dalam                          used by the Board of Commissioners, Directors, and Employees in the
 pelaksanaan kerja untuk dan atas nama SPINDO, maupun                               implementation of work for and on behalf of SPINDO, as well as
 berinteraksi dan berhubungan dengan sesama rekan kerja, dengan                     interacting and dealing with fellow colleagues, with superiors and
 atasan maupun staf lainnya. Berikut adalah pokok-pokok di dalam                    other staff. The following are the main points in work ethics
 standar etika kerja, yaitu:                                                        standards, such as:


 1.    Etika kerja sebagai karyawan;                                                1.   Work ethics as an employee;
 2.    Etika kerja sebagai pimpinan;                                                2.   Work ethics as a leader;
 3.    Etika pimpinan dalam melakukan komunikasi;                                   3.   Ethics as a leader in communicating;
 4.    Etika staf dalam melakukan komunikasi;                                       4.   Ethics in communicating among staff;
 5.    Etika dalam menjaga kerahasiaan data dan informasi                           5.   Ethics in maintaining data confidentiality and company
       perusahaan;                                                                       Information;
 6.    Etika dalam menyampaikan informasi kepada karyawan;                          6.   Ethics in delivering information to employees;
 7.    Etika dalam menjaga aset perusahaan;                                         7.   Ethics in maintaining company assets;
 8.    Etika dalam menjaga keselamatan, kesehatan kerja, dan                        8.   Ethics in maintaining safety, work health and the environment;
       lingkungan hidup;                                                            9.   Ethics in using email - Internet;
 9.    Etika penggunaan email – internet;                                           10. Ethics in planning and using budget;
 10. Etika dalam perencanaan dan penggunaan anggaran;                               11. Ethics in preventing conflict of interest and abuse of office;
 11. E t i ka d a l a m m e n c e g a h b e n t u ra n ke p e n t i n g a n d a n   12. Ethics in political activities;
       penyalahgunaan jabatan;                                                      13. Ethics in activity organization mass/non governmental
 12. Etika dalam kegiatan politik;                                                       organization/others;
 13. Etika dalam kegiatan organisasi massa/lembaga swadaya                          14. Integrity of Financial Statements;
       masyarakat/organisasi lainnya;                                               15. Ethics in gratifications and bribery.
 14. Integritas Laporan Keuangan;
 15. Etika terkait gratifikasi dan penyuapan.


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  Penyebarluasan Kode Etik | Dissemination of the Code of Conduct
  Media penyebarluasan kode etik kepada seluruh warga perusahaan           Media dissemination of code of ethics to all citizens of the company,
  antara lain melalui:                                                     through:
  Ÿ Website Perseroan                                                      Ÿ Company Website
  Ÿ Laporan tahunan                                                        Ÿ Annual report
  Ÿ Sosialisasi                                                            Ÿ Socialization
  Ÿ Materi orientasi pegawai baru                                          Ÿ Material of orientation of new employee
  Ÿ Dan lain-lain.                                                         Ÿ Others.




  Kepatuhan terhadap Kode Etik | Compliance of Code of Conduct
  Bentuk kepatuhan terhadap Code of Conduct ditunjukkan dengan             Compliance with the Code of Conduct is shown                  by the
  penerapan etika kerja dan etika bisnis di setiap lini organisasi.        implementation of work ethics and business ethics in every line of the
  Kesadaran akan penerapan Code of Conduct telah menjadi bagian            organization. Awareness of the implementation of the Code of
  yang tidak dapat dipisahkan dari tanggung jawab seluruh pejabat          Conduct has become an inseparable part of the responsibilities of all
  dan karyawan untuk memberikan dampak positif SPINDO. Lembar              officials and employees to have a positive impact on SPINDO. The
  Pernyataan kepatuhan Code of Conduct dapat dilihat melalui               Code of Conduct compliance statement sheet can be seen through
  Pedoman Sistem Whistleblowing pada website Perseroan:                    the Whistleblowing System Guidelines on the Company's website:
  https://www.spindo.com/sistem-whistleblowing                             https://www.spindo.com/sistem-whistleblowing



  Prinsip Kode Etik | Principles of Code of Conduct
  Prinsip-prinsip kode etik Perseroan adalah sebagai berikut:              The Company's code of ethics principles are as follows:
  Ÿ Ketaatan terhadap Peraturan Perusahaan Peraturan Perusahaan            Ÿ Adherence to Company Regulations Company Regulations must
    harus dijunjung tinggi dan dipatuhi oleh seluruh pegawai.                 be respected and adhered to by all employees. Breach of rules or
    Pelanggaran terhadap peraturan atau tata tertib dapat berakibat           regulations may result in warnings to termination of employment.
    pada peringatan hingga pemutusan hubungan kerja.                       Ÿ Obedience to avoid conflicts of interest in any conflict of interest,
  Ÿ Ketaatan untuk menghindari benturan kepentingan dalam setiap              decisions taken by the employee shall be made by prioritizing the
    benturan kepentingan, keputusan yang diambil oleh pegawai                 interests of the Company.
    haruslah dibuat dengan mengutamakan kepentingan Perseroan.             Ÿ Obligation to maintain the confidentiality of the Company. All
  Ÿ Kewajiban untuk menjaga kerahasiaan Perseroan. Semua                      employees are not allowed to disclose information that could harm
    pegawai tidak diperkenankan untuk mengungkapkan informasi                 the Company.
    yang dapat merugikan Perseroan.




  Kode Etik Berlaku Bagi Seluruh Level Organisasi | Code of Ethics Applies to All Organizational Level

  Kode Etik Bisnis dan Etika SPINDO untuk pejabat dan seluruh              The Business and Ethics Code of SPINDO for officials and all
  Karyawan di SPINDO; Yang dimaksud dengan pejabat adalah Dewan            Employees at SPINDO; What is meant by officials is the Board of
  Komisaris dan/atau anggota Direksi. Sedangkan karyawan berarti           Commissioners and/or members of the Board of Directors. While the
  seluruh personil/staf termasuk pimpinan yaitu koordinator staf dan       employee means all personnel/staff including the leadership of the
  serendah-rendahnya dengan jabatan Manajer yang memiliki                  staff coordinator and as low as the job manager who has a working
  hubungan kerja dengan SPINDO (karyawan internal maupun                   relationship with SPINDO (both internal and outsourced employees).
  outsourcing).




           Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan          Referensi                     Laporan Keuangan             199
           Corporate Governance          Corporate Social Responsibility        References                    Financial Statements            5
Page 208
                                                                                                                 2024 Annual Report




Upaya Penegakan dan Sanksi Pelanggaran Kode Etik
Enforcement Efforts and Sanctions of Code Violations

 Setiap pegawai diharuskan menandatangani pernyataan kepatuhan          Every employee is required to sign a compliance statement of the
 pedoman perilaku saat bergabung dengan Perseroan dan                   Code of Conduct when joining the Company and implementing it in
 melaksanakannya dalam kegiatan sehari-hari. Perseroan juga secara      daily activities. The Company also periodically organizes events to
 berkala mengadakan acara untuk menekankan penerapan kode etik          emphasize the application of codes of ethics to employees. The
 bagi para pegawai. Pelanggaran terhadap kode etik dapat berakibat      breach of the code of conduct may result in warnings to termination of
 pada peringatan hingga pemutusan hubungan kerja.                       employment.



 Pengelolaan Sistem Whistleblower | Whistleblower Management System
 Perusahaan memberikan kesempatan kepada Manajemen dan                  The Company provides an opportunity for Management and
 Karyawan Perusahaan untuk dapat melaporkan setiap kasus korupsi,       Employees to report any cases of corruption, bribery, gratuities, or
 suap, gratifikasi, maupun penyelewengan lainnya kepada Komite           other misconduct to the GCG Committee. All SPINDO employees,
 GCG. Seluruh karyawan SPINDO, mitra bisnis, dan para pemangku          business partners, and stakeholders have easy access to our
 kepentingan memiliki akses yang mudah ke saluran whistleblower         whistleblower channels, where they can report violations, suspected
 kami, di mana mereka dapat melaporkan pelanggaran, dugaan, atau        or potential breaches of the Business Code of Ethics and Policy Rules,
 potensi pelanggaran Kode Etik Bisnis dan Aturan Kebijakan, serta       as well as other ethical violations or illegal conduct. All reports of
 pelanggaran etika atau perilaku ilegal lainnya. Semua laporan          ethical violations committed by Company employees are submitted
 terhadap tindakan pelanggaran etika yang dilakukan Pegawai             to the Ethics and Behavior Guidelines Monitoring and Enforcement
 Perusahaan disampaikan kepada Komite Pemantau Penerapan dan            Committee (KP5). However, for violations committed by the Board of
 Penegakan Pedoman Etika dan Perilaku (KP5). Namun demikian,            Directors and/or members of KP5, the report of such violations will be
 khusus untuk pelanggaran yang dilakukan oleh Direksi dan/atau          submitted directly to the Audit Committee.
 anggota KP5, maka pelaporan tindakan pelanggaran disampaikan
 langsung kepada Komite Audit.


 Tujuan Sistem Whistleblowing | Purpose of the Whistleblowing System
 Dengan adanya Sistem Whistleblowing ini memiliki tujuan sebagai        The existence of the Whistleblowing System has the following
 berikut:                                                               objectives:
 Ÿ Memiliki peran sebagai alat deteksi dini dan pencegahan terhadap     Ÿ Acts as an early detection and prevention tool for violations of code
      suatu tindakan pelanggaran kode etik, pedoman perilaku dan          of conduct, code of conduct and conflicts of interest by SPINDO
      benturan kepentingan oleh insan SPINDO di lingkungan                people in the Company's environment;
      Perusahaan;                                                       Ÿ A means for stakeholders (whistleblowers) to report violations of
 Ÿ Merupakan sarana bagi stakeholder (whistleblower) untuk                the code of ethics, code of conduct, and conflicts of interest
      melaporkan tindakan pelanggaran kode etik, pedoman perilaku,        committed by both Employees and Directors of SPINDO.
      dan benturan kepentingan yang dilakukan baik oleh pegawai
      maupun Direksi SPINDO.


 Prosedur Pelaporan | Reporting Procedures
 1. Para stakeholders (whistleblower) dalam menyampaikan laporan        1. The stakeholders (whistleblowers) in submitting reports of acts of
      tindakan pelanggaran dapat melalui sarana yang ditujukan             violation may be by means addressed to :
      kepada:                                                              a. Letters: The Committee for Monitoring the Implementation
      a. Surat: Komite Pemantau Penerapan dan Penegakan                        and Enforcement of the Code of Ethics and Conduct (KP5) -
          Pedoman Etika dan Perilaku (KP5) - Komite Audit                      Audit Committee
      b. Email: kp5@spindo.com; kp5@spindo.co.id;                          b. Email : kp5@spindo.com; kp5@spindo.co.id;
          lapor@komiteaudit.com                                                lapor@komiteaudit.com
      c. Website: https://www.spindo.com/sistem-whistleblowing             c. Website: https://www.spindo.com/sistem-whistleblowing

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  2. Dalam hal pelaporan tindakan pelanggaran disampaikan dalam           2. In the event that the reporting of the offense is submitted in the
     bentuk surat, maka harus disampaikan dalam amplop tertutup              form of a letter, it must be submitted in a sealed envelope and
     dan ditulis di pojok kiri “RAHASIA PRIBADI”, ditujukan kepada:          written in the left corner "CONFIDENTIAL", addressed to:


   Bilamana yang terlapor adalah anggota Direksi atau anggota                           Bilamana yang terlapor adalahkaryawan
            KP5 harap lapor ke alamat email berikut:                                               harap lapor ke:
              When the reported is a member of the                                         When the reported is an employee,
           Board of Directors or KP5, please report to:                                            please report to:




      lapor@komiteauditspindo.com                                         kp5@spindo.co.id | kp5@spindo.com
                Atau mengirimkan laporan tertulis ke:                                       Atau mengirimkan laporan tertulis ke:
                     Or send the written mail to:                                                Or send the written mail to:

       PT Steel Pipe Industry of Indonesia Tbk                                   PT Steel Pipe Industry of Indonesia Tbk
    Gedung Baja Lt 7 Jl. Pangeran Jayakarta No. 55,                               Jl. Kalibutuh No. 189 -191, Surabaya
                    Jakarta Pusat                                           Up: Komite Pemantau Penerapan dan Penegakan
                  Up: Komite Audit                                                    Pedoman Etika & Perilaku (KP5)

  3. Khusus terhadap tindakan pelanggaran yang dilakukan oleh             3. Especially for the breach committed by the Board of Directors and
     Direksi dan/atau anggota KP5, maka pelaporan tindakan                   / or members of KP5, the reporting of the offense shall be
     pelanggaran disampaikan kepada Komite Audit. Dalam hal                  submitted to the Audit Committee. In the case of an offense
     tindakan pelanggaran dilakukan Pegawai Perusahaan selain                committed by an Employee of the Company other than a member
     anggota KP5, maka pelaporannya disampaikan kepada KP5.                  of KP5, the reporting shall be submitted to Kp5.


  4. Pada prinsipnya setiap whistleblower berhak memperoleh               4. In principle, whistleblowers are entitled to information on the
     informasi mengenai perkembangan pelaporannya. Untuk itu,                progress of their reporting. To that end, in its complaint report,
     dalam laporan pengaduannya, whistleblower harus memberikan              whistleblower must provide its identity and communications
     mengenai identitas dirinya dan media komunikasi yang dipilih            media selected by whistleblower to be used by the Audit
     oleh whistleblower untuk dapat digunakan oleh Komite Audit              Committee or KP5 to communicate its reporting progress.
     atau KP5 mengkomunikasikan perkembangan pelaporannya.
                                                                          5. The Audit Committee or KP5 shall not be entitled to provide
  5. Komite Audit atau KP5 tidak berhak memberikan informasi                 information on the progress of reporting any braches actions
     perkembangan pelaporan tindakan pelanggaran selain kepada               other than to the Board of Commissioners / Board of Directors and
     Dewan Komisaris/Direksi dan kepada pelapor yang disertai                to the complainant accompanied by written request from the
     dengan adanya permintaan tertulis dari yang bersangkutan.               person concerned.


  6. Setiap pelaporan yang disampaikan oleh whistleblower harus           6. Any report submitted by a whistleblower shall be accountable
     dapat dipertanggungjawabkan dan bukan bersifat fitnah yang               and not libelous in nature which defames and/or a person's
     mencemarkan nama baik dan/atau reputasi seseorang dan wajib             reputation and shall meet the following requirements:
     memenuhi persyaratan berikut:                                           a.     Submitted in writing through the media referred to in item 2
     a. Disampaikan secara tertulis melalui media sebagaimana                or 3 above.
        dimaksud dalam butir 2 atau 3 di atas.


         Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan          Referensi                       Laporan Keuangan           201
         Corporate Governance           Corporate Social Responsibility        References                      Financial Statements          5
Page 210
                                                                                                                        2024 Annual Report




      b. Memuat indikasi awal mengenai tindakan pelanggaran yang                  b. Contains early indications of responsible acts of offenses, at
         dapat dipertanggungjawabkan, minimal memuat hal-hal                          least containing the following:
         sebagai berikut:
          i.   Perbuatan berindikasi pelanggaran yang diketahui (what)               i.   Indicated acts of known infringement (what)
          ii. Di mana perbuatan tersebut dilakukan (where)                           ii. Where the deed was done (where)
          iii. Kapan perbuatan tersebut dilakukan (when)                             iii. When the deed was done (when)
          iv. Siapa saja pihak yang terlibat dalam perbuatan tersebut                iv. Who were the parties involved in the deed(who)
               (who)                                                                 v. How the deed was done (how)
          v. Bagaimana perbuatan tersebut dilakukan (how)
      c. Laporan yang disampaikan harus berhubungan dengan:                       c. The report submitted should be related to:
          i.   Fraud.                                                                i.   Fraud.
          ii. Pelanggaran hukum (ketentuan perundang-undangan).                      ii. Break the law (statutory provisions).
          iii. Pelanggaran Peraturan Perusahaan.                                     iii. Breach the Company Rules.
          iv. Pelanggaran Kebijakan Perusahaan.                                      iv. Breach the Company Policy.
          v. Pelanggaran Code of Conduct, termasuk pelanggaran                       v. Breach of the Code of Conduct, including breachs of he
               tata nilai Perusahaan dan benturan kepentingan.                            Company's values and conflict of interest.
      d. Diharapkan laporan yang disampaikan didukung dengan                      d. It is hoped that the reports will be supported with sufficient
               bukti-bukti yang cukup dan dapat diandalkan.                               and reliable evidence.


 7. Komite Audit atau KP5 hanya akan menindaklanjuti pelaporan              7. The Audit Committee or KP5 shall only follow up on reporting that
      yang memenuhi persyaratan sebagaimana dimaksud dalam butir                  meets the requirements referred to in item 7 above.
      7 di atas.


 8. Komite Audit dan KP5 wajib memantau pengaduan melaui email              8. The Audit Committee and KP5 shall monitor complaints by email
      dan atau website pada minggu pertama setiap bulannya.                       and / or website on the first week of each month.


 9. Komite Audit dan KP5 akan mengadakan rapat khusus untuk                 9. The Audit Committee and KP5 will hold special meetings to
      menilai dan menentukan apakah pengaduan yang masuk                          assess and determine whether incoming complaints meet the
      memenuhi persyaratan untuk ditindaklanjuti. Rapat khusus ini                requirements for follow up. This special meeting shall be
      dilakukan paling lambat pada minggu kedua sejak diterimanya                 conducted no later than the second week of receipt of the report
      laporan sebagaimana dimaksud butir 9 di atas.                               referred to in item 9 above.


 10. Keputusan rapat khusus sebagaimana dimaksud dalam butir 10             10.      The decision of the special meeting as referred to in point 10
      di atas akan disampaikan kepada Dewan Komisaris (untuk                      above shall be submitted to the Board of Commissioners (for
      pengaduan yang disampaikan melalui Komite Audit) dan Direksi                complaints submitted through the Audit Committee) and the
      (untuk pengaduan yang disampaikan melalui KP5) untuk                        Board of Directors (for complaints submitted through KP5) for the
      dimintakan persetujuan terkait sebagai berikut:                             following related approvals:
      a. Dalam hal keputusan rapat khusus berupa pengaduan tidak                  a. In the event that the decision of a special meeting in the form
          dapat ditindaklanjuti, maka dimintakan persetujuan kepada                  of a complaint can not be followed up, an approval is
          Dewan Komisaris/Direksi untuk ditetapkan kasus ditutup                     requested to the Board of Commissioners/Directors to set a
          (close case).                                                              closed case.
      b. Dalam hal keputusan rapat khusus berupa pengaduan dapat                  b. In the event that a special meeting decision in the form of a
          ditindaklanjuti, maka akan dimintakan persetujuan kepada                   complaint can be followed up, an approval from the Board of
          Dewan Komisaris/Direksi untuk dilakukan evaluasi dan                       Commissioners/Board of Directors is required for evaluation
          investigasi.                                                               and investigation.




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     c. Apabila Komite Audit dan KP5, dengan pertimbangan                      c. If the Audit Committee and KP5, in consideration of the
        keterbatasan kewenangan dan kompetensinya, memandang                       limitation of their competence and competence, deem it
        perlu meminta bantuan Satuan Pengawasan Internal/Tenaga                    necessary to request the assistance of the Internal
        Ahli/Konsultan/Auditor eksternal, maka Komite Audit dan KP5                Supervisory/External/Consultant/Auditor Unit, the Audit
        harus mendapat persetujuan terlebih dahulu dari Dewan                      Committee and KP5 must obtain prior approval from the
        Komisaris / Direksi.                                                       Board of Commissioners / Board of Directors.


  11. Dalam hal hasil evaluasi dan investigasi terbukti Terlapor            11. In the event that the result of the evaluation and investigation is
     melakukan tindakan pelanggaran sebagaimana dimaksud dalam                 proven that the Reported Party has committed an offense as
     butir 7c yang terkait dengan ketentuan internal Perusahaan, maka          referred to in point 7c in relation to the internal requirements of the
     Komite Audit/KP5 akan merekomendasikan kepada Direksi atau                Company, the Audit Committee / KP5 will recommend to the
     Komisaris untuk memberikan sanksi kepada Terlapor sesuai                  Board of Directors or Commissioners to sanction the Reported
     peraturan Perusahaan. Dalam hal pelanggaran sebagaimana                   Party according to Company regulations. In the case of the
     dimaksud dalam butir 7c yang terkait dengan ketentuan                     violations referred to in point 7c relating to the provisions of the
     peraturan perundang-undangan yang bersifat pidana maka akan               criminal legislation it shall be applied by case-by-case.
     diterapkan secara case by case.


  12. Dalam rangka menghindari dan atau mencegah pengulangan                12. In order to avoid and / or prevent the repetition of acts of
     tindakan pelanggaran di lingkungan Perusahaan, maka Komite                infringement within the Company, the Audit Committee / KP5 will
     Audit/KP5 akan memberikan rekomendasi kepada Unit Kerja                   recommend to the relevant Working Units for the improvement of
     terkait untuk perbaikan sistem dan proses kerja.                          work systems and processes.


  13. Hasil evaluasi dan investigasi dilaporkan kepada Dewan                13. The results of the evaluation and investigation are reported to the
     Komisaris (untuk pengaduan yang disampaikan melalui Komite                Board of Commissioners (for complaints submitted through the
     Audit) atau Direksi (untuk pengaduan yang disampaikan melalui             Audit Committee) or the Board of Directors (for complaints
     KP5) dan ditembuskan kepada unit kerja terkait (apabila terdapat          submitted through KP5) and forwarded to the relevant work units
     rekomendasi yang harus ditindaklanjuti oleh unit kerja terkait).          (where recommendations are to be acted upon by the relevant
                                                                               work units).


  14. Komite Audit dan KP5 wajib melaporkan penyelenggaraan                 14. The Audit Committee and KP5 shall report the conduct of the
     Whistleblowing System kepada Dewan Komisaris (untuk                       Whistleblowing System to the Board of Commissioners (for
     pengaduan yang disampaikan melalui Komite Audit) atau Direksi             complaints submitted through the Audit Committee) or the Board
     (untuk pengaduan yang disampaikan melalui KP5) minimal satu               of Directors (for complaints submitted through KP5) at least once
     kali dalam jangka waktu satu tahun. Hal-hal yang dilaporkan               in a period of one year. Minimum reported items include the
     minimal mencakup informasi sebagai berikut:                               following information:
     a. Jumlah pengaduan yang diterima dalam jangka waktu 1 (satu)             a. Number of complaints received within 1 (one) year.
        tahun.                                                                 b. The area or problem to be reported.
     b. Area atau permasalahan yang diadukan.                                  c. Number of non-actionable complaints and reasons why.
     c. Jumlah pengaduan yang tidak dapat ditindaklanjuti dan                  d. Number of complaints that can be acted upon.
        alasannya.                                                             e. The development of an actionable process of evaluation and
     d. Jumlah pengaduan yang dapat ditindaklanjuti.                               investigation of complaints (including unresolved complaints
     e. Perkembangan proses evaluasi dan investigasi atas                          in the previous period).
        pengaduan yang dapat ditindaklanjuti (termasuk tindaklanjut
        pengaduan yang belum tuntas di periode sebelumnya).




          Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan          Referensi                       Laporan Keuangan               203
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                                                                                                                      2024 Annual Report




 16. Secara berkala, KP5 melakukan evaluasi efektivitas Pedoman             16. The Whistleblowing System Guidelines and their implementation
      Whistleblowing System dan penerapannya. Hasil evaluasi ini               are periodically assessed by KP5. Reported to the Board of
      dilaporkan kepada Direksi.                                               Directors are the evaluation's findings.


 17. Komite Audit dapat memberikan masukan untuk perbaikan                  17. The Audit Committee may provide input for improvements to the
      Pedoman Whistleblowing System yang disampaikan kepada                    Whistleblowing System Guidelines submitted to KP5 through the
      KP5 melalui Satuan Pengawasan Intern.                                    Internal Audit Unit.




Perlindungan untuk Pelapor | Protection for the Whistleblower

 Sebagai wujud komitmen Perusahaan dalam menerapkan tata kelola             As a commitment of the company in implementing good corporate
 Perusahaan yang baik, maka atas laporan yang terbukti                      governance, on a verifiable report, the Company will provide
 kebenarannya, Perusahaan akan memberikan perlindungan kepada               protection to whistleblowers. The protection provided includes:
 whistleblower. Perlindungan yang diberikan meliputi:


 1. Jaminan atas kerahasiaan identitas pelapor (whistleblower).             1. Guarantees of the identity of the whistleblower.
 2. Jaminan atas kerahasiaan isi laporan yang disampaikan.                  2. Warranty on the confidentiality of the contents of the report
 3. Jaminan atas perlindungan kemungkinan adanya tindakan                      submitted.
      ancaman, intimidasi, hukuman, ataupun tindakan tidak                  3. Guarantee for the protection of possible threats, intimidation,
      menyenangkan lainnya dari pihak terlapor.                                punishment or other unpleasant acts by the party reported.
 4. Bagi pelapor internal yang merupakan korban atau tidak terlibat         4. For internal reporters who are victims or not involved in the case
      dalam kasus yang dilaporkan, Perusahaan memberikan jaminan               reported, the Company provides a guarantee of protection shall
      perlindungan tidak akan dikenai:                                         not be subject to:
      1. Pemecatan;                                                            1. Dismissal;
      2. Penurunan jabatan atau pangkat;                                       2. Demotion;
      3. Pelecehan atau diskriminasi dalam segala bentuknya;                   3. Harassment or discrimination in all its forms;
      4. Catatan yang merugikan dalam file data pribadinya (personal            4. Adverse records in personal data files (personal file record).
         file record).                                                          Relating to the action reported or indirectly related to the party
      Yang berkaitan dengan tindakan yang dilaporkan atau secara               reported. As for the parties involved with the reported case, the
      tidak langsung berkaitan dengan pihak yang dilaporkan.                   report should be considered as a mitigating factor for the
      Sedangkan untuk pihak yang terlibat dengan kasus yang                    complainant.
      dilaporkan, laporan harus dipertimbangkan sebagai faktor yang
      meringankan bagi pelapor.
 5. Selain perlindungan sebagaimana dimaksud dalam butir 1 s/d              5. In addition to the protection referred to in items 1 to 4 above, for a
      butir 4 di atas, untuk pelapor yang beritikad baik, Perusahaan juga      well-informed reporter, the Company shall also seek legal
      akan mengupayakan perlindungan hukum kepada pelapor                      protection to the complainant as stipulated by law.
      sebagaimana ketentuan yang diatur peraturan perundang-
      undangan.




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  Pemahaman akan Mekanisme Whistleblower | Understanding of the Whistleblower Mechanism

  Dalam rangka penerapan whistleblowing system, Perseroan                  As part of the implementation of the whistleblowing system, the
  menempatkan sejumlah pengingat visual yang ditempatkan secara            company places a number of visual reminders strategically in all
  strategis di semua kantor dan fasilitas perusahaan mengenai              offices and company facilities regarding the whistleblower
  mekanisme whistleblower, berupa poster yang menjelaskan                  mechanism, in the form of posters explaining how to report potential
  bagaimana cara melaporkan potensi atau pelanggaran Pedoman               violations of the Code of Conduct. This reporting mechanism is also
  Perilaku (Code Of Conduct). Mekanisme pelaporan ini juga                 disseminated through socialization, activation, and integrity guidance
  disebarluaskan melalui sosialisasi, aktivasi, dan bimbingan integritas   organized by the Internal Audit Division.
  Perseroan yang diselenggarakan oleh Divisi Internal Audit.


  Selain itu, KP5 wajib melakukan sosialisasi kebijakan ini minimal        In addition, KP5 is required to socialize this policy at least once a year
  setahun sekali, baik kepada pegawai dan stakeholder dengan               to both employees and stakeholders using the following media:
  menggunakan media sebagai berikut:                                       a. Company Internal Email;
  a. Email Internal Perusahaan;                                            b. SPINDO website;
  b. Website SPINDO;                                                       c. Face-to-face meetings conducted during Gathering / Training
  c. Pertemuan tatap muka yang dilakukan saat Gathering/Training           d. Specifically for customers, partners, and suppliers, socialization
  d. Khusus untuk para pelanggan, mitra kerja, dan pemasok,                   will be carried out through a circular notification.
     sosialisasi akan dilakukan melalui surat edaran pemberitahuan.



  Jumlah Pengaduan | Total Complaints

  Selama 2024, Perseroan menerima 1 (satu) laporan dugaan                  During 2024, the Company received 1 (one) report of alleged
  pelanggaran.                                                             violations.




  Sanksi/Tindak Lanjut | Sanctions/Follow-Ups

  Pada 2024, Perseroan telah menindaklanjuti laporan dengan                In 2024, the Company followed up on the report by imposing
  memberikan sanksi terhadap terlapor.                                     sanctions on the reported party.




          Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan          Referensi                       Laporan Keuangan               205
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Page 214
                                                                                                                      2024 Annual Report



Penerapan Pedoman
Tata Kelola Perusahaan Terbuka OJK
Implementation of Public Companies Corporate Governance Guidelines in Compliance with OJK


 Sesuai dengan Peraturan Jasa Keuangan (POJK) Nomor                    In accordance with the Financial Services Regulations (POJK)
 21/POJK.04/2015 tentang Penerapan Pedoman Tata Kelola                 Number 21/POJK.04 /2015 concerning Application of Public
 Perusahaan Terbuka dan Surat Edaran Otoritas Jasa Keuangan            Company Governance Guidelines and Financial Services Authority
 (SEOJK) Nomor 32/SEOJK.04/2015 tentang Pedoman Tata Kelola            Circular Letter (SEOJK) Number 32/SEOJK.04/2015 concerning
 Perusahaan Terbuka, dalam penerapan 5 (lima) aspek, 8 (delapan)       Guidelines for Governance of Public Companies, in applying 5 (five)
 prinsip tata kelola perusahaan yang baik serta 25 (dua puluh lima)    aspects, 8 (eight) principles of Good Corporate Governance and 25
 rekomendasi yang disampaikan oleh OJK, penerapan aspek dan            ( t we n t y fi ve) re c o m m e n d a t i o n s s u b m i t t e d by t h e OJ K ,
 prinsip tata kelola perusahaan yang baik berdasarkan pendekatan       implementation aspects and principles of Good Corporate
 “comply or explain” oleh SPINDO disampaikan sebagai berikut:          Governance is based on a "comply or explain" by SPINDO submitted
                                                                       as follows:




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         Prinsip                            Rekomendasi                           Keterangan Rekomendasi OJK                                             Penjelasan Penerapan SPINDO
        Principle                         Recommendation                        OJK Recommendation Statements                                         SPINDO Implementation Statements

   Aspek 1 : Hubungan Perusahaan Terbuka dengan Pemegang Saham Dalam Menjamin Hak-Hak Pemegang Saham
   Aspect 1 : Open Corporate Relationship with Shareholders in Protecting Shareholders’ Rights


  Prinsip 1:                     1.1 Perusahaan Terbuka memiliki              Setiap saham dengan hak suara yang                                Terpenuhi; Di dalam Tata Tertib RUPS Tahunan Perseroan

  Meningkatkan Nilai                    cara atau prosedur teknis             dikeluarkan mempunyai satu hak suara (one                         tanggal 28 Juni 2024 dan sesuai ketentuan Pasal 23

  Penyelenggaraan                       pengumpulan suara (voting)            share one vote). Pemegang saham dapat                             Anggaran Dasar Perseroan, pemungutan suara dalam Rapat

  Rapat Umum                            baik secara terbuka maupun            m e n g g u n a ka n h a k s u a ra n ya p a d a s a a t          ini dilakukan secara lisan dengan prosedur :

  Pemegang Saham                        tertutup yang mengedepankan           pengambilan keputusan dengan cara                                 Ÿ   Pemegang saham dan kuasa pemegang saham diberi

  (RUPS)                                independensi dan kepentingan          p e n g u m p u l a n s u a r a ( v o t i n g ) . Pro s e d u r       kesempatan untuk mengajukan pertanyaan dan/atau

                                        pemegang saham.                       pengambilan suara (voting) tersebut harus                             pendapat untuk tiap mata acara Rapat.

  Principle 1:                                                                menjaga independensi ataupun kebebasan                            Ÿ   Pengambilan keputusan seluruh mata acara dilakukan

  Increasing the Value of                                                     pemegang saham.                                                       berdasarkan musyawarah untuk mufakat, dalam hal

  the Annual General                                                                                                                                musyawarah untuk mufakat tidak tercapai, pengambilan

  Meeting of                                                                                                                                        keputusan dilakukan dengan pemungutan suara.

  Shareholders (AGMS)

                                 1.1 Public companies have a                  Each voting shares issued have one vote (one                      Comply; In the Rules of Conduct Annual General Meeting of

                                        method or procedure for voting,       share one vote). Shareholders can use their                       the Company dated June 28, 2024 pursuant to Article 23 of

                                        whether open or closed, that          voting rights at the time of decision making by                   the Articles of Association, the Meeting voting is done

                                        protects the independence and         voting. The voting procedure must maintain the                    verbally with the procedure:

                                        the interests of the                  independence or freedom of shareholders.                          Ÿ   Shareholders and their proxies are given the opportunity

                                        shareholders.                                                                                               to ask questions and/or opinions for each agenda item of

                                                                                                                                                    the Meeting.

                                                                                                                                                Ÿ   Decision-making on all agenda items is conducted based

                                                                                                                                                    on deliberation to reach consensus. In the event that

                                                                                                                                                    consensus cannot be reached, decisions are made by

                                                                                                                                                    voting.



                                 1.2 Seluruh anggota Direksi dan              Kehadiran seluruh anggota Direksi dan anggota                     Terpenuhi; Kehadiran anggota Direksi dan Dewan Komisaris

                                        anggota Dewan Komisaris               Dewan Komisaris Perusahaan Terbuka bertujuan                      telah diungkapkan didalam Ringkasan Risalah RUPS

                                        Perusahaan Terbuka hadir              agar setiap anggota Direksi dan anggota Dewan                     Tahunan dan di Bab Tata Kelola Perusahaan pada Annual

                                        dalam RUPS Tahunan.                   Komisaris dapat memperhatikan, menjelaskan,                       Report ini.

                                                                              dan menjawab secara langsung permasalahan

                                                                              yang terjadi atau pertanyaan yang diajukan oleh

                                                                              pemegang saham terkait mata acara dalam

                                                                              RUPS.



                                 1.2 All members of the Board of              The presence of all members of the Board of                       Comply; The presence of members of the Board of Directors

                                        Directors and Board of                Directors and members of the Board of                             and Commissioners has been disclosed in the Summary of

                                        Commissioners attended the            Commissioners of the Public Company is                            Annual GMS Minutes and Corporate Governance Chapter of

                                        Annual General Meeting of             intended so that each member of the Board of                      this Annual Report.

                                        Shareholders.                         Directors and members of the Board of

                                                                              Commissioners can pay attention, explain, and

                                                                              respond directly to problems that occur or

                                                                              questions raised by shareholders related to the

                                                                              agenda at the GMS.




               Tata Kelola Perusahaan                   Tanggung Jawab Sosial Perusahaan                               Referensi                                    Laporan Keuangan                  207
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           Prinsip                    Rekomendasi                      Keterangan Rekomendasi OJK                                  Penjelasan Penerapan SPINDO
        Principle                   Recommendation                   OJK Recommendation Statements                              SPINDO Implementation Statements

                            1.3 Ringkasan risalah RUPS            Perusahaan Terbuka wajib membuat ringkasan Terpenuhi; Perseroan telah membuat Ringkasan Risalah

                                 tersedia dalam Situs Web         risalah RUPS dalam bahasa Indonesia dan bahasa RUPS Tahunan dalam Bahasa Indonesia dan Inggris, serta

                                 Perusahaan terbuka paling        asing (minimal dalam bahasa Inggris), serta telah diumumkan 2 (dua) hari kerja setelah pelaksanaan

                                 sedikit selama 1 (satu) tahun.   diumumkan 2 (dua) hari kerja setelah RUPS RUPS Tahunan tanggal 28 Juni 2024. Ringkasan Risalah

                                                                  diselenggarakan kepada masyarakat, yang salah RUPS Tahunan Perseroan telah dimuat dalam harian Kontan

                                                                  satunya melalui Situs Web Perusahaan Terbuka. pada hari Senin, 4 Juli 2024 dan diupload melalui situs web

                                                                  Ketersediaan ringkasan risalah RUPS pada Situs Bursa Efek serta situs website :

                                                                  Web Perusahaan Terbuka memberi kesempatan (https://www.spindo.com/rups).

                                                                  bagi pemegang saham yang tidak hadir untuk

                                                                  mendapat informasi penting dalam penyelenggara-

                                                                  an RUPS secara mudah & cepat.



                            1.3 A summary of the minutes of       The Public Company is required to make a summary Comply; The Company has published the summary of the

                                 the AGMS is available on the     of the minutes of the GMS in Indonesian and foreign Annual GMS Minutes in Indonesian and English, and has

                                 Website of a public company      languages (at least in English), and be announced 2 been announced 2 (two) working days after the

                                 for at least 1 (one) year.       (two) working days after the GMS is held to the implementation of the Annual GMS on 28 June 2024. The

                                                                  public, one of which is through the Public Company summary of the Annual GMS Minutes has been published in

                                                                  Website. The availability of a summary of GMS Kontan Daily News, Monday, July 4th 2024 and uploaded in

                                                                  minutes on the Public Company Website provides an the Stock Exchange’s website and the Company's website.

                                                                  opportunity for shareholders who are not present to

                                                                  obtain important information in the holding of the

                                                                  GMS easily and quickly.



Prinsip 2:                  2.1 Perusahaan Terbuka memiliki       Terdapat Komunikasi antara Perusahaan Terbuka Terpenuhi; Perseroan memiliki kebijakan komunikasi

Meningkatkan Kualitas            suatu kebijakan komunikasi       d e n g a n p e m e g a n g s a h a m a t a u i n v e s t o r dengan pemegang saham atau investor, yang berfungsi

komunikasi Perusahaan            dengan pemegang saham atau       dimaksudkan agar mendapatkan pemahaman lebih sebagai panduan Perseroan dalam berkomunikasi dengan

Terbuka dengan                   investor.                        jelas atas informasi yang telah dipublikasikan kepada pihak-pihak terkait. Kebijakan komunikasi tersebut

Pemegang Saham atau                                               masyarakat, seperti laporan berkala, keterbukaan sebagaimana diatur dalam Pedoman Tata Kelola

Investor                                                          informasi, kondisi atau prospek bisnis dan kinerja, Perusahaan pada Bab III. A.2. , yaitu Komunikasi dengan

                                                                  serta pelaksanaan tata kelola Perusahaan Terbuka. Pemegang Saham dan Investor. Media komunikasi dengan

Principle 2:                                                      Disamping itu, pemegang saham atau investor juga pemegang saham atau investor dilakukan yang di atur

Strengthening the Quality                                         dapat menyampaikan masukan dan opini kepada tersebut melalui: RUPS, Public Expose, Laporan Tahunan,

of Communication                                                  manajemen Perusahaan Terbuka.                         Laporan Keuangan Tahunan dan Interim, Analyst Meeting,

between Public Companies                                                                                                Press Release, Situs Web Perusahaan, Media Sosial

and the Shareholders or                                                                                                 Perusahaan, Pertanyaan/Informasi Pemegang Saham, dan

Investors                                                                                                               Akses E-mail yaitu corsec@spindo.co.id.



                            2.1 Public companies disclose their   There is a Communication between the Public Comply; The Company has a communication policy with

                                 policies on communication with   Company and the shareholders or investors intended shareholders or investors, which serves as a guide for the

                                 the shareholders or investors.   to gain a clearer understanding of information that Company in communicating with related parties. The

                                                                  has been published to the public, such as periodic communication policy as regulated in the Corporate

                                                                  reports, information disclosure, business conditions Governance Guidelines in Chapter III. A.2., Communication with

                                                                  or prospects and performance, as well as the Shareholders and Investors. Media communication with

                                                                  implementation of public company governance. In shareholders or investors is conducted through the following:

                                                                  addition, shareholders or investors can also submit RUPS, Public Expose, Annual Reports, Annual and Interim

                                                                  input and opinions to the management of the Public Financial Reports, Analyst Meetings, Press Releases, Company

                                                                  Company.                                              We b s i t e s, Co r p o ra t e S o c i a l M e d i a , S h a re h o l d e r

                                                                                                                        Questions/Information, and E-mail access: corsec@spindo.co.id


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         Prinsip                            Rekomendasi                          Keterangan Rekomendasi OJK                                    Penjelasan Penerapan SPINDO
        Principle                         Recommendation                       OJK Recommendation Statements                                SPINDO Implementation Statements

                                 2.2 Perusahaan Terbuka                      Pengungkapan kebijakan komunikasi merupakan               Terpenuhi; Perseroan telah memiliki kebijakan komunikasi

                                        mengungkapkan kebijakan              bentuk transparansi atas komitmen Perusahaan              Perusahaan Terbuka dengan pemegang saham atau Emiten

                                        komunikasi Perusahaan                Terbuka dalam memberikan kesetaraan kepada                yang dituangkan dalam Pedoman Tata Kelola Perusahaan

                                        Terbuka dengan pemegang              semua pemegang saham atau investor atas                   pada Bab III dan telah diunggah dalam website Perseroan:

                                        saham atau investor dalam            pelaksanaan komunikasi. Pengungkapan                      https://www.spindo.com/tata-kelola-perusahaan.

                                        Situs Web.                           informasi tersebut juga ber tujuan untuk

                                                                             meningkatkan partisipasi dan peran pemegang

                                                                             saham atau investor dalam pelaksanaan program

                                                                             komunikasi Perusahaan Terbuka.



                                 2.2 Public companies disclose their         Disclosure of communication policies is a form of         Comply; The Company has a Public Company

                                        policies on communication with       transparency of the commitment of the public              communication policy with shareholders or Issuers as

                                        the shareholders or investors on     company in providing equality to all shareholders         outlined in the Corporate Governance Guidelines in Chapter

                                        the Website.                         or i nve st ors fo r t h e i m p l e me nt a t i o n of   III and has been uploaded on the Company's website:

                                                                             communication. Disclosure of this information also        https://www.spindo.com/tata-management-company.

                                                                             aims to increase participation and the role of

                                                                             shareholders or investors in the implementation of

                                                                             the public company communication program.




   Aspek 2 : Fungsi dan Peran Dewan Komisaris
   Aspect 2 : Function and Role of the Board of Commissioners


  Prinsip 3:                     3.1 Penentuan jumlah anggota                Jumlah anggota Dewan Komisaris dapat                      Terpenuhi; Penentuan jumlah anggota Dewan Komisaris

  Memperkuat                            Dewan Komisaris                      mempengaruhi efektivitas pelaksanaan tugas dari           Perseroan telah dilakukan dengan mempertimbangankan

  Keanggotaan dan                       mempertimbangkan kondisi             Dewan Komisaris. Penentuan jumlah anggota                 kondisi perusahaan dan juga sesuai dengan ketentuan POJK

  Komposisi Dewan                       Perusahaan Terbuka.                  Dewan Komisaris Perusahaan Terbuka wajib                  No. 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris

  Komisaris                                                                  mengacu kepada ketentuan peraturan                        Emiten atau Perusahaan Publik (POJK 33/2014).

                                                                             perundang-undangan yang berlaku.

  Principle 3:

  Strengthening the              3.1 The determination of the                The number of members of the Board of                     Comply; The determination of the number of members of the

  Membership and                        number of members of the             Commissioners can affect the effectiveness of             Board of Commissioners of the Company has been carried

  composition of the                    Board of Commissioners takes         carr ying out the duties of the Board of                  out by considering the condition of the company and also in

  Board of                              into account the condition of the    Commissioners. Determination of the number of             accordance with the provisions of POJK No.

  Commissioners                         public company.                      members of the Board of Commissioners of a                33/POJK.04/2014 concerning Board of Directors and Board

                                                                             Public Company must refer to the provisions of            of Commissioners of Issuers or Public Companies (POJK

                                                                             the applicable laws and regulations.                      33/2014).




               Tata Kelola Perusahaan                  Tanggung Jawab Sosial Perusahaan                          Referensi                              Laporan Keuangan                     209
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Page 218
                                                                                                                                             2024 Annual Report



        Prinsip                      Rekomendasi                   Keterangan Rekomendasi OJK                                 Penjelasan Penerapan SPINDO
       Principle                   Recommendation                OJK Recommendation Statements                               SPINDO Implementation Statements

                           3.2 Penentuan komposisi anggota    Komposisi Dewan Komisaris merupakan kombinasi Terpenuhi; Komposisi Dewan Komisaris Perseroan telah

                                Dewan Komisaris               karakteristik baik dari segi organ Dewan Komisaris dilakukan dengan memperhatikan kebutuhan Perseroan.

                                memperhatikan keberagaman     maupun anggota Dewan Komisaris secara individu, Anggota Dewan Komisaris sangat beragam dengan

                                keahlian, pengetahuan, dan    sesuai dengan kebutuhan Perusahaan Terbuka. keahlian, pengetahuan, pengalaman, dan kewarganegaraan

                                pengalaman yang dibutuhkan.   Karakteristik tersebut dapat tercermin dalam yang bertujuan untuk mendukung dan mempertahankan

                                                              penentuan keahlian, pengetahuan, dan pengalaman keunggulan kompetitif. Segala bentuk fungsi, tugas, hak dan

                                                              yang dibutuhkan dalam pelaksanaan tugas kewenangan, pembagian kerja, persyaratan, pengangkatan,

                                                              pengawasan dan pemberian nasihat oleh Dewan keanggotaan dan hal lainnya yang terkait Dewan Komisaris

                                                              Komisaris Perusahaan Terbuka. Komposisi yang dimuat dalam Board Manual-Panduan Bagi Dewan

                                                              telah memperhatikan kebutuhan Perusahaan Komisaris dan Direksi sesuai Tata Kelola Perusahaan Yang

                                                              Terbuka merupakan suatu hal yang positif, Baik dan dapat diakses di website Perseroan :

                                                              khususnya terkait pengambilan keputusan dalam https://www.spindo.com/board-manual

                                                              rangka pelaksanaan fungsi pengawasan yang

                                                              dilakukan dengan mempertimbangkan berbagai

                                                              aspek yang lebih luas.



                           3.2 The determination of the       The composition of the Board of Commissioners is a Comply; The composition of the Company's Board of

                                composition of the Board of   combination of characteristics both in terms of the Commissioners has been carried out with due regard to the

                                Commissioners takes into      organs of the Board of Commissioners and individual needs of the Company. Members of the Board of

                                account the diversity of      members of the Board of Commissioners, according Commissioners are very diverse with expertise, knowledge,

                                expertise, knowledge, and     to the needs of the Public Company. These experience and citizenship that aims to support and maintain

                                experience required.          characteristics can be reflected in the determination competitive advantage. All forms of functions, duties, rights

                                                              of expertise, knowledge, and experience needed in and authorities, division of labor, requirements, appointment,

                                                              carrying out supervisory duties and providing advice membership, and other matters related to the Board of

                                                              by the Board of Commissioners of the Public Commissioners are contained in the Board Manuals for the

                                                              Company. The composition that has taken into Board of Commissioners and Directors in accordance with

                                                              account the needs of the public company is a positive Good Corporate Governance and can be accessed on the

                                                              thing, especially related to decision making in the Company's website:

                                                              context of implementing the supervisory function https://www.spindo.com/board-manual

                                                              carried out by considering a broader range of

                                                              aspects.



 Prinsip 4:                4.1 Dewan Komisaris mempunyai      Kebijakan penilaian sendiri (self assessment) Dewan Penjelasan; Perseroan masih belum memiliki kebijakan Self-

 Meningkatkan Kualitas          kebijakan penilaian sendiri (self- Komisaris merupakan suatu pedoman yang Assesment Dewan Komisaris, karena kebijakan self-

 Pelaksanaan Tugas dan          assessment) untuk menilai     digunakan sebagai bentuk akuntabilitas atas a s s e s m e n t m a s i h d a l a m t a h a p p e n y u s u n a n d a n

 Tanggung Jawab                 kinerja Dewan Komisaris.      penilaian kinerja Dewan Komisaris secara kolegial. penyempurnaan.

 Dewan Komisaris                                              Self assessment atau penilaian sendiri dimaksud

                                                              dilakukan oleh masing-masing anggota untuk

 Principle 4:                                                 menilai pelaksanaan kinerja Dewan Komisaris secara

 Strengthening the                                            kolegial, dan bukan menilai kinerja individual masing-

 Quality of the                                               masing anggota Dewan Komisaris. Dengan adanya

 Execution of Duties                                          self assessment ini diharapkan masing-masing

 and Responsibilities of                                      anggota Dewan Komisaris dapat berkontribusi untuk

 the Board of                                                 memperbaiki kinerja Dewan Komisaris secara ber-

 Commissioners                                                kesinambungan.




210                        Ikhtisar Utama                     Laporan Manajemen                           Profil Perusahaan                   Analisa & Pembahasan Manajemen
  5                          Highlights                       Management Report                           Company Profile                     Management Discussion & Analysis
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Laporan Tahunan 2024



         Prinsip                            Rekomendasi                         Keterangan Rekomendasi OJK                                    Penjelasan Penerapan SPINDO
        Principle                         Recommendation                      OJK Recommendation Statements                                  SPINDO Implementation Statements

                                 4.1 The Board of Commissioners has The Board of Commissioners' self-assessment policy Explain; The Company still has not had a Board of

                                        a policy on (Self-Assessment)     is a guideline used as a form of accountability for Commissioners Self-Assessment Policy, and it is still in the

                                        to evaluate the performance of    collegially evaluating the performance of the Board of preparation and completion stage.

                                        the Board of Commissioners.       Commissioners. Self-assessment is intended by

                                                                          each member to assess the implementation of the

  Prinsip 4:                                                              performance of the Board of Commissioners

  Meningkatkan Kualitas                                                   collegially, and not to assess the individual

  Pelaksanaan Tugas dan                                                   performance of each member of the Board of

  Tanggung Jawab                                                          Commissioners. With this self assessment it is

  Dewan Komisaris                                                         expected that each member of the Board of

                                                                          Commissioners can contribute to improving the

  Principle 4:                                                            performance of the Board of Commissioners on an

  Strengthening the                                                       ongoing basis.

  Quality of the

  Execution of Duties            4.2 Kebijakan penilaian sendiri (self- Pengungkapan kebijakan Self-Assessment atas Pe n j e l a s a n ; Pe r s e r o a n m a s i h b e l u m m e m e n u h i

  and Responsibilities of               assessment) untuk menilai         kinerja Dewan Komisaris dilakukan tidak hanya untuk rekomendasi ini, karena masih belum memiliki kebijakan self-

  the Board of                          kinerja Dewan Komisaris,          memenuhi aspek transparansi sebagai bentuk assesment.

  Commissioners                         diungkapan melalui Laporan        pertanggungjawaban atas pelaksanaan tugasnya,

                                        Tahunan Perusahaan Terbuka.       namun juga, untuk memberikan keyakinan khususnya

                                                                          kepada para pemegang saham atau investor atas

                                                                          u p a ya - u p a ya ya n g p e r l u d i l a k u k a n d a l a m

                                                                          meningkatkan kinerja Dewan Komisaris. Dengan

                                                                          adanya pengungkapan tersebut pemegang saham

                                                                          atau investor mengetahui mekanisme check &

                                                                          balance terhadap kinerja Dewan Komisaris.



                                 4.2 The policy on Self-Assessment        Disclosure of the Self Assessment policy on the Explain; The company still has not complied with this

                                        to evaluate the performance of    performance of the Board of Commissioners is done recommendation, because it still does not have a self-

                                        the Board of Commissioners is     not only to fulfill the transparency aspect as a form of assessment policy.

                                        stated in the Annual Report of    accountability for carrying out its duties, but also, to

                                        a public company.                 provide confidence especially to shareholders or

                                                                          investors of the efforts that need to be done in

                                                                          improving the per formance of the Board of

                                                                          Commissioners. With this disclosure, shareholders or

                                                                          investors are aware of the check and balance

                                                                          mechanism for the performance of the Board of

                                                                          Commissioners.



                                 4.3 Dewan Komisaris mempunyai            Kebijakan pengunduran diri anggota Dewan Terpenuhi; Dewan Komisaris mempunyai kebijakan terkait

                                        kebijakan terkait pengunduran     Komisaris yang terlibat dalam kejahatan keuangan pengunduran diri anggota Dewan Komisaris apabila terlibat

                                        diri anggota Dewan Komisaris      merupakan kebijakan yang dapat meningkatkan dalam kejahatan keuangan sesuai dengan Pedoman kerja

                                        apabila terlibat dalam kejahatan kepercayaan para pemangku kepentingan terhadap Direksi dan Dewan Komisaris Perseroan serta peraturan

                                        keuangan.                         Perusahaan Terbuka, sehingga integritas perusahaan perundang-undangan terkait.

                                                                          akan tetap terjaga.




               Tata Kelola Perusahaan                 Tanggung Jawab Sosial Perusahaan                             Referensi                         Laporan Keuangan                  211
               Corporate Governance                     Corporate Social Responsibility                           References                        Financial Statements                 5
Page 220
                                                                                                                                          2024 Annual Report



      Prinsip               Rekomendasi                        Keterangan Rekomendasi OJK                                 Penjelasan Penerapan SPINDO
      Principle           Recommendation                     OJK Recommendation Statements                               SPINDO Implementation Statements
                  4.3 The Board of Commissioners           The resignation policy of members of the Board of     Comply; The Board of Commissioners has a policy related to

                       has a policy on the resignation     Commissioners involved in financial crimes is a        the resignation of members of the Board of Commissioners

                       of members of the Board of          policy that can increase the confidence of             when involved in financial crimes in accordance with the

                       Commissioners who are               stakeholders in the public company, so that the       work guidelines of the Board of Directors and the Board of

                       involved in financial crimes.        integrity of the company will be maintained.          Commissioners of the Company as well as related laws and

                                                                                                                 regulations.



                  4.4 Dewan Komisaris atau Komite          Berdasarkan ketentuan Peraturan Otoritas Jasa         Penjelasan; Perseroan masih belum memiliki kebijakan

                       yang menjalankan fungsi             Keuangan No. 34/POJK.04/2014 tentang Komite           suksesi karena kebijakan suksesi masih dalam tahap

                       Nominasi dan Remunerasi             Nominasi dan Remunerasi Emiten atau                   penyusunan dan penyempurnaan.

                       menyusun kebijakan suksesi          Perusahaan Publik, komite yang menjalankan

                       dalam proses Nominasi               fungsi nominasi mempunyai tugas untuk

                       anggota Direksi.                    menyusun kebijakan dan kriteria yang dibutuhkan

                                                           dalam proses Nominasi calon anggota Direksi.

                                                           Salah satu kebijakan yang dapat mendukung

                                                           proses Nominasi sebagaimana dimaksud adalah

                                                           kebijakan suksesi anggota Direksi. Kebijakan

                                                           mengenai suksesi bertujuan untuk menjaga

                                                           kesinambungan proses regenerasi atau kaderisasi

                                                           kepemimpinan di perusahaan dalam rangka

                                                           mempertahankan keberlanjutan bisnis dan tujuan

                                                           jangka panjang perusahaan.



                  4.4 The Board of Commissioners or        Based on the provisions of the Financial Services     Explain; The Company still has not had a Succession Policy,

                       the Committee of the                Authority Regulation No. 34/POJK.04/2014              and it is still in the preparation and completion progress.

                       Nomination and Remuneration         concerning the Nomination and Remuneration

                       functioning of succession in the    Committee of Issuers or Public Companies, the

                       process of formulating policies     committee that carries out the nomination function

                       Nomination of Directors             has the task of compiling the policies and criteria

                       members.                            needed in the process of nominating candidates

                                                           for Directors. One of the policies that can support

                                                           the Nomination process referred to is the

                                                           succession policy for members of the Board of

                                                           Directors. The succession policy aims to maintain

                                                           the continuity of the regeneration process or the

                                                           regeneration of leadership in the company in order

                                                           to maintain business sustainability and the long-

                                                           term goals of the company.




212               Ikhtisar Utama                          Laporan Manajemen                           Profil Perusahaan                    Analisa & Pembahasan Manajemen
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Page 221
Laporan Tahunan 2024



         Prinsip                            Rekomendasi                          Keterangan Rekomendasi OJK                                  Penjelasan Penerapan SPINDO
        Principle                         Recommendation                       OJK Recommendation Statements                              SPINDO Implementation Statements
   Aspek 3 : Fungsi dan Peran Direksi
   Aspect 3 : Function and Role of the Board of Directors


  Prinsip 5:                     5.1 Penentuan jumlah anggota              Penentuan jumlah anggota Direksi harus dilakukan Terpenuhi; Penentuan jumlah anggota Dewan Komisaris

  Memperkuat                            Direksi mempertimbangkan           melalui pertimbangan yang matang dan wajib Perseroan telah dilakukan dengan mempertimbangankan

  Keanggotaan dan                       kondisi Perusahaan Terbuka         mengacu pada ketentuan Peraturan Perundang- kondisi perusahaan dan juga sesuai dengan ketentuan POJK

  Komposisi Direksi                     serta efektifitas dalam             undangan yang berlaku. Di samping itu, Penentuan No. 33/POJK.04/2014 tentang Direksi dan Dewan Komisaris

                                        pengambilan keputusan              jumlah anggota Direksi mempertimbangkan kondisi Emiten atau Perusahaan Publik (POJK 33/2014)

  Principle 5:                                                             Perusahaan Terbuka ser ta efektifitas dalam

  Strengthening the                                                        pengambilan keputusan Direksi.

  Membership and

  Composition of the             5.1 The determination of the              Determination of the number of members of the Comply; Determination of the number of members of the

  Board of Directors                    number of member the Board of Board of Directors must be done through careful Board of Commissioners of the Company has been carried

                                        Directors takes into account       consideration and must refer to the provisions of the out by considering the condition of the company and also in

                                        condition of the Public            prevailing laws and regulations. In addition, the a c c o r d a n c e w i t h t h e p r o v i s i o n s o f P O J K N o .

                                        Company and the effectiveness      determination of the number of members of the 33/POJK.04/2014 concerning Board of Directors and Board

                                        of decision making.                Board of Directors considers the condition of the of Commissioners of Issuers or Public Companies (POJK

                                                                           Public Company and the effectiveness in making 33/2014).

                                                                           decisions of the Board of Directors.



                                 5.2 Penentuan komposisi anggota           Keberagaman komposisi anggota Direksi merupakan Terpenuhi; Direksi Perseroan memiliki latar belakang yang

                                        Direksi memperhatikan,             kombinasi karakteristik yang diinginkan baik dari segi beragam atas keahlian, pengetahuan dan pengalaman. Hal

                                        keberagaman, keahlian,             organ Direksi maupun anggota Direksi secara tersebut dapat dilhat dari profil masing-masing Direksi, baik

                                        pengetahuan, dan pengalaman        individu dan pertimbangan kombinasi karakteristik di dalam Laporan Tahunan atau website Perseroan.

                                        yang dibutuhkan.                   dimaksud akan berdampak dalam ketepatan proses Komposisi Direksi yang beragam ini diharapkan dapat

                                                                           pencalonan dan penunjukan individual anggota memberikan opsi atau alternatif penyelesaian dan

                                                                           Direksi ataupun Direksi secara kolegial.                 pengambilan keputusan terhadap suatu masalah yang

                                                                                                                                    semakin kompleks dihadapi oleh Perseroan.



                                 5.2 The determination of the              The diversity of the composition of members of the Comply; The Company's Directors have diverse

                                        composition of the Board of        Board of Directors is a combination of the desired backgrounds in expertise, knowledge and experience. This

                                        Directors takes into account the   characteristics both in terms of organs of the Board of can be seen from the profiles of each Directors, both in the

                                        diversity of expertise,            Directors and individual members of the Board of Annual Report or the Company's website. The diverse

                                        knowledge and experience           Directors and consideration of the combination of composition of the Board of Directors is expected to provide

                                        required.                          these characteristics will have an impact on the options or alternatives for resolution and decision making on

                                                                           accuracy of the nomination process and the an increasingly complex problem faced by the Company.

                                                                           appointment of individual members of the Directors

                                                                           or Directors collegially.



                                 5.3 Anggota Direksi yang                  Berdasarkan peraturan perundang-undangan di Penjelasan; Perseroan belum memiliki Direktur Keuangan,

                                        membawahi bidang akuntansi         sektor Pasar Modal yang mengatur mengenai hingga saat ini fungsi Direksi yang membawahi keuangan

                                        atau keuangan memiliki             tanggung jawab Direksi atas Laporan Keuangan, masih dirangkap jabatan oleh Wakil Direktur utama.

                                        keahlian dan/atau pengetahuan      Direksi secara tanggung renteng bertanggung jawab

                                        di bidang akuntansi.               atas Laporan Keuangan, yang ditanda-tangani

                                                                           Direktur Utama dan anggota Direksi yang

                                                                           membawahi bidang akuntansi atau keuangan.




               Tata Kelola Perusahaan                  Tanggung Jawab Sosial Perusahaan                       Referensi                                Laporan Keuangan                       213
               Corporate Governance                      Corporate Social Responsibility                     References                               Financial Statements                      5
Page 222
                                                                                                                                                   2024 Annual Report



           Prinsip                    Rekomendasi                        Keterangan Rekomendasi OJK                                  Penjelasan Penerapan SPINDO
       Principle                    Recommendation                     OJK Recommendation Statements                                SPINDO Implementation Statements


                            5.3 Members of the Board of              Based on the laws and regulations in the Capital       Explain; The Company has not had a Finance Director yet,

                                 Directors who head accounting       Market sector that regulates the responsibilities of   until now the function of the Board of Directors in charge of

                                 or finance areas have expertise      the Board of Directors for the Financial               the finance is still concurrently positioned by the Vice

                                 in and/or knowledge of              Statements, the Board of Directors is jointly          President Director.

                                 accounting.                         responsible for the Financial Statements, which

                                                                     are signed by the President Director and members

                                                                     of the Board of Directors in charge of accounting or

                                                                     finance.



 Prinsip 6:                 6.1 Direksi mempunyai kebijakan          Kebijakan penilaian sendiri (self assessment)          Terpenuhi; Perseroan telah memiliki kebijakan Self-

 Meningkatkan Kualitas           penilaian sendiri (self-            Direksi atau penilaian sendiri dimaksud dilakukan      Assesment.

 Pelaksanaan Tugas dan           assessment) untuk menilai           oleh masing-masing anggota Direksi untuk

 Tanggung Jawab                  kinerja Direksi.                    menilai pelaksanaan kinerja Direksi secara

 Direksi                                                             kolegial, dan bukan menilai kinerja individual

                                                                     masing-masing anggota Direksi.

 Principle 6:

 Strengthening the          6.1 The Board of Directors has a         The Directors' self-assessment policy or the self-     Comply; The Company has had a Self-Assessment Policy.

 Quality of the Execution        policy on Self-Assessment to        assessment referred to is carried out by each

 of Duties and                   evaluate the performance of the     member of the Board of Directors to assess the

 Responsibilities of the         Board of Directors.                 collegial performance of the Directors, and not to

 Board of Directors                                                  assess the individual performance of each

                                                                     member of the Board of Directors.



                            6.2 Kebijakan penilaian sendiri          Pengungkapan kebijakan self-assessment atas            Terpenuhi; Perseroan telah memiliki kebijakan Self-

                                 (self- assessment) untuk            kinerja Direksi dilakukan tidak hanya untuk            Assesment.

                                 menilai kinerja Direksi             memenuhi aspek transparansi sebagai bentuk

                                 diungkapkan melalui laporan         per tanggung-jawaban atas pelaksanaan

                                 tahunan Perusahaan Terbuka.         tugasnya, namun juga untuk memberikan

                                                                     informasi penting atas upaya-upaya perbaikan

                                                                     dalam pengelolaan Perusahaan Terbuka. Dengan

                                                                     adanya pengungkapan tersebut pemegang

                                                                     saham atau investor mengetahui mekanisme

                                                                     check and balance terhadap kinerja Direksi.



                            6.2 The Policy on Self-Assessment        Disclosure of the self-assessment policy on the        Comply; The Company has had a Self-Assessment Policy.

                                 to evaluate the performance of      performance of the Directors is carried out not

                                 the Board of Directors is stated    only to fulfill the transparency aspect as a form of

                                 in the Annual Report of the         accountability for the implementation of its

                                 Public Company.                     duties, but also to provide important information

                                                                     for improvement efforts in the management of

                                                                     the Public Company. With this disclosure,

                                                                     shareholders or investors are aware of the check

                                                                     and balance mechanism for the performance of

                                                                     the Board of Directors.




214                         Ikhtisar Utama                          Laporan Manajemen                            Profil Perusahaan                  Analisa & Pembahasan Manajemen
  5                           Highlights                            Management Report                            Company Profile                    Management Discussion & Analysis
Page 223
Laporan Tahunan 2024



         Prinsip                            Rekomendasi                          Keterangan Rekomendasi OJK                             Penjelasan Penerapan SPINDO
        Principle                         Recommendation                       OJK Recommendation Statements                         SPINDO Implementation Statements


                                 6.3 Direksi mempunyai kebijakan           Kebijakan pengunduran diri anggota Direksi yang Terpenuhi; Direksi mempunyai kebijakan terkait

                                        terkait pengunduran diri           terlibat dalam kejahatan keuangan merupakan pengunduran diri anggota Direksi apabila terlibat dalam

                                        anggota Direksi apabila terlibat   kebijakan yang dapat meningkatkan kepercayaan kejahatan keuangan sesuai dengan Pedoman kerja Direksi

                                        dalam kejahatan keuangan.          para pemangku kepentingan terhadap Perusahaan dan Dewan Komisaris Perseroan ser ta peraturan

                                                                           Terbuka, sehingga integritas perusahaan akan tetap perundang-undangan terkait.

                                                                           terjaga.



                                 6.3 The Board of Commissioners            The resignation policy of members of the Board of Comply; The Board of Directors has a policy related to the

                                        has a policy on the resignation    Directors involved in financial crimes is a policy that resignation of members of the Board of Directors if it is

                                        of members of the Board of         can increase the confidence of stakeholders in public involved in financial crimes in accordance with the work

                                        Commissioners who are              companies, so that the integrity of the company will guidelines of the Board of Directors and the Board of

                                        involved in financial crimes.       be maintained.                                       Commissioners of the Company and related laws and

                                                                                                                                regulations.



                                 7.1 Perusahaan Terbuka memiliki           Perusahaan Terbuka dapat meminimalisir terjadinya Terpenuhi; Perusahaan memiliki kebijakan pencegahan
  Prinsip 7:
                                        kebijakan untuk mencegah           insider trading tersebut melalui kebijakan terjadinya insider trading yang diatur dalam Code of Conduct
  Meningkatkan Aspek
                                        terjadinya insider trading.        pencegahan, misalnya dengan memisahkan secara Perseroan pada Bab Standar Etika Bisnis pasal 12, yaitu
  Tata Kelola Perusahaan
                                                                           tegas data dan/atau informasi yang bersifat rahasia Etika perusahaan terkait praktik pasar modal dan insider
  melalui Partisipasi
                                                                           dengan yang bersifat publik, serta membagi tugas trading yang menjelaskan hal-hal yang wajib dilakukan dan
  Pemangku
                                                                           dan tanggung jawab atas pengelolaan informasi hal-hal yang tidak dapat/boleh dilakukan, di mana standar
  Kepentingan
                                                                           dimaksud secara proporsional dan efisien.             etika bisnis tersebut harus dipedomani oleh seluruh jajaran

                                                                                                                                Perseroan.
  Principle 7:
                                                                                                                                Adapun disampaikan juga di dalam Pedoman Tata Kelola
  Strengthening
                                                                                                                                Perusahaan pada BAB III : Penerapan Tata Kelola
  Corporate Governance
                                                                                                                                Perusahaan huruf B.4 perihal Pencegahan Transaksi Orang
  Aspects Through
                                                                                                                                Dalam (Insider Trading).
  Stakeholder

  Participation
                                 7.1 Public Companies have a policy        Public Company can minimize the occurrence of Comply; The company has a policy of preventing insider

                                        on preventing insider trading.     insider trading through prevention policies, for trading that is regulated in the Code of Conduct of the

                                                                           example by strictly separating data and/or Company in the Chapter of Business Ethics Standards,

                                                                           information that is confidential from the public article 12: Company ethics related to capital market practices

                                                                           nature, as well as dividing the duties and and insider trading that explains the things that must be

                                                                           responsibilities for the management of said done and the things that cannot / can be done, where

                                                                           information proportionally and efficiently.           business ethics standards must be followed by all levels of

                                                                                                                                the Company.

                                                                                                                                Also stated in the Corporate Governance Guidelines in

                                                                                                                                Chapter III : Implementation of Corporate Governance, article

                                                                                                                                B.4 Concerning Prevention of Insider Trading.



                                 7.2 Perusahaan Terbuka memiliki           Kebijakan tersebut dapat merupakan bagian dalam Terpenuhi; Kebijakan terkait gratifikasi dan anti-korupsi

                                        kebijakan anti korupsi dan anti-   kode etik, ataupun dalam bentuk tersendiri. Dalam tersebut dimuat dalam Code of Conduct Perseroan pada Bab

                                        fraud.                             kebijakan tersebut dapat meliputi antara lain Standar Etika Bisnis pasal 13 perihal Etika Perusahaan

                                                                           mengenai program dan prosedur yang dilakukan Terkait Gratifikasi dan Korupsi bahwa memberi, menerima

                                                                           dalam mengatasi praktik korupsi, balas jasa dan membiarkan lingkungan yang terindikasi suap dalam

                                                                           (kickbacks), fraud, suap dan/atau gratifikasi dalam bentuk apapun kepada pihak-pihak yang memiliki

                                                                           Perusahaan Terbuka.                                  kepentingan bisnis dengan Perseroan merupakan bentuk

                                                                                                                                pelanggaran.


               Tata Kelola Perusahaan                  Tanggung Jawab Sosial Perusahaan                       Referensi                          Laporan Keuangan                      215
               Corporate Governance                      Corporate Social Responsibility                     References                         Financial Statements                     5
Page 224
                                                                                                                                                    2024 Annual Report



        Prinsip                     Rekomendasi                        Keterangan Rekomendasi OJK                                    Penjelasan Penerapan SPINDO
       Principle                  Recommendation                     OJK Recommendation Statements                                  SPINDO Implementation Statements
  Aspek 4 : Partisipasi Pemangku Kepentingan
  Aspect 4 : Stakeholder Participation

 Prinsip 7:               7.2 Public Companies have anti           The policy can be part of the code of ethics, or in      Comply; The policies related to gratuity and anti-corruption

 Meningkatkan Aspek            corruption and anti fraud           its own form. The policy can include, among              are contained in the Company's Code of Conduct in the

 Tata Kelola Perusahaan        policies.                           others, the programs and procedures carried out          Chapter Business Ethics Standard, article 13 regarding

 melalui Partisipasi                                               in dealing with corrupt practices, fraud,                Corporate Ethics regarding gratification and corruption that

 Pemangku                                                          kickbacks, bribes and/or gratuities in public            gives, receives and allows a bribery-indicated environment

 Kepentingan                                                       companies.                                               in any form to parties who have business interests with The

                                                                                                                            company is a form of violation.

 Principle 7:

 Strengthening            7.3 Perusahaan Terbuka memiliki          Kebijakan tentang seleksi pemasok atau vendor            Terpenuhi; Perseroan memiliki kebijakan tentang seleksi

 Corporate Governance          kebijakan tentang seleksi dan       bermanfaat untuk memastikan agar Perusahaan              dan peningkatan kemampuan pemasok atau vendor yang

 Aspects Through               peningkatan kemampuan               Terbuka memperoleh barang atau jasa yang                 bertujuan untuk memastikan hubungan dengan pemasok

 Stakeholder                   pemasok atau vendor.                diperlukan dengan harga yang kompetitif dan              mencerminkan dan mendukung standar etika tinggi yang

 Participation                                                     kualitas yang baik. Pelaksanaan kebijakan-               sama. Kebijakan tersebut dimuat dalam Code of Conduct

                                                                   kebijakan tersebut dapat menjamin kontinuitas            pada Bab Standar Etika Bisnis pasal 4 perihal Etika

                                                                   pasokan, baik dari segi kuantitas maupun kualitas        Perusahaan dengan Vendor / Supplier.

                                                                   yang dibutuhkan Perusahaan Terbuka.



                          7.3 Public Companies have a policy       The policy on selecting suppliers or vendors is useful   Comply; The Company has a policy regarding the selection

                               on the selection and                to ensure that the public company obtains the goods      and enhancement of the ability of suppliers or vendors that

                               improvement of vendors.             or services needed at competitive prices and good        aims to ensure relations with suppliers reflect and support

                                                                   quality. implementation of these policies can            the same high ethical standards. This policy is contained in

                                                                   guarantee continuity of supply, both in terms of         the Code of Conduct in Chapter Business Ethics Standard

                                                                   quantity and quality required by the public company.     article 4 regarding Company Ethics with Vendors / Suppliers.



                          7.4 Perusahaan Terbuka memiliki          Kebijakan tentang pemenuhan hak-hak kreditur             Terpenuhi; Kebijakan pemenuhan hak-hak kreditur

                               kebijakan untuk pemenuhan           digunakan sebagai pedoman dalam melakukan                digunakan sebagai pedoman dalam melakukan pinjaman

                               hak- hak kreditur.                  pinjaman kepada kreditur. Tujuan dari kebijakan          kepada kreditur. Tujuan dari kebijakan tersebut adalah untuk

                                                                   dimaksud adalah untuk menjaga terpenuhinya               menjaga pemenuhan hak dan menjaga kepercayaan kreditur

                                                                   hak-hak dan menjaga kepercayaan kreditur                 terhadap perusahaan terbuka.

                                                                   terhadap Perusahaan Terbuka.



                          7.4 Public Companies have a policy       The policy on fulfilling creditors' rights is used as a   Comply; The policy on fulfilling creditors' rights is used as a

                               on fullfilling creditors’ rights.    guide in making loans to creditors. The purpose of       guide in making loans to creditors. The purpose of the policy

                                                                   the policy is to maintain the fulfillment of rights and   is to maintain the fulfillment of rights and maintain creditor

                                                                   maintain creditor trust in the public company.           trust in the public company.



                          7.5 Perusahaan Terbuka memiliki          Kebijakan sistem whistleblowing yang telah               Terpenuhi; Perseroan memiliki kebijakan sistem

                               kebijakan sistem                    disusun baik akan memberikan kepastian                   whistleblowing yang diatur dalam Pedoman

                               whistleblowing.                     perlindungan kepada saksi atau pelapor atas              Whistleblowing System Perseroan. Jenis pelanggaran yang

                                                                   suatu indikasi pelanggaran yang dilakukan                dapat dilaporkan melalui adalah pelanggaran, dugaan, atau

                                                                   karyawan / manajemen Perusahaan Terbuka.                 potensi pelanggaran Kode Etik Bisnis dan Aturan Kebijakan,

                                                                                                                            serta pelanggaran etik dan perilaku illegal lainnya.

                                                                                                                            Penjelasan lebih lanjut mengenai cara pengaduan dapat

                                                                                                                            dibaca di Laporan Tahunan Perseroan dan Whistleblowing

                                                                                                                            System pada situs web Perseroan:

                                                                                                                            https://www.spindo.com/sistem-whistleblowing

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         Prinsip                            Rekomendasi                         Keterangan Rekomendasi OJK                                    Penjelasan Penerapan SPINDO
        Principle                         Recommendation                      OJK Recommendation Statements                                SPINDO Implementation Statements

                                 7.5 Public Companies have a policy         The whistleblowing system policy that has been           Comply; The Company has a whistleblowing system policy

                                        on the whistleblowing system.       prepared well will provide certainty of protection       that is regulated in the Company's Whistleblowing System

                                                                            to witnesses or reporters for an indication of           Guidelines. Types of violations that can be reported through

                                                                            violations committed by employees /                      are violations, allegations, or potential violations of the Code

                                                                            management of the Public Company.                        of Business Ethics and Policy Rules, as well as violations of

                                                                                                                                     ethics and other illegal behavior.

                                                                                                                                     Further explanation on how complaints can be read in the

                                                                                                                                     Company's Annual Report and Whistleblowing System on

                                                                                                                                     the Company's website :

                                                                                                                                     https://www.spindo.com/sistem-whistleblowing



                                 7.6 Perusahaan Terbuka memiliki            Insentif jangka panjang bermanfaat dalam rangka          Penjelasan; Perseroan masih belum menerapkan kebijakan

                                        kebijakan pemberian insentif        menjaga loyalitas dan memberikan motivasi kepada         pemberian insentif jangka panjang kepada Direksi dan

                                        jangka panjang kepada Direksi       Direksi dan karyawan untuk meningkatkan kinerja atau     Karyawan.

                                        dan karyawan.                       produktivitasnya yang akan berdampak pada

                                                                            peningkatankinerjaperusahaandalamjangkapanjang.



                                 7.6 The Public Company has a               Long-term incentives are useful in order to maintain     Explain; The Company has not yet implemented a policy of

                                        policy of providing long-term       loyalty and provide motivation to the Directors and      providing long-term incentives to Directors and Employees.

                                        incentives to Directors and         employees to improve their performance or

                                        employees.                          productivity which will have an impact on improving

                                                                            the company's performance in the long run.


   Aspek 5 : Keterbukaan Informasi
   Aspect 5 : Information Disclosure

  Prinsip 8:                     8.1 Perusahaan Terbuka                     Keterbukaan informasi yang dilakukan tidak               Terpenuhi; Dalam situs website SPINDO, terdapat segala

  Meningkatkan                          memanfaatkan penggunaan             hanya keterbukaan informasi yang telah diatur            informasi yang terkait dengan Keterbukaan Informasi. Dan

  Pelaksanaan                           teknologi informasi secara lebih    dalam peraturan perundang-undangan, namun                selain situs website, Perseroan memanfaatkan teknologi

  Keterbukaan Informasi                 luas selain Situs Web sebagai       juga informasi lain terkait Perusahaan Terbuka           informasi lainnya melalui media sosial (seperti Instagram,

                                        media keterbukaan informasi.        yang dirasakan bermanfaat untuk diketahui                Facebook, dan Twitter) sebagai saluran media untuk

  Principle 8:                                                              pemegang saham atau investor.                            keterbukaan informasi.

  Strengthening

  Information Disclosure         8.1 Public Companies make use of           The disclosure of information is not only disclosure     Comply; On the SPINDO website, there is all information

                                        information technology other        of information that has been regulated in the            relating to Information Disclosure. And in addition to the

                                        than the website as a means for     legislation, but also other information related to the   website, the Company utilizes other information technology

                                        diclosing information.              public company that is considered useful for             through social media (such as Instagram, Facebook and

                                                                            shareholders or investors to know.                       Twitter) as a media channel for information disclosure.



                                 8.2 Laporan Tahunan Perusahaan             Peraturan perundang-undangan di sektor Pasar             Terpenuhi; Perseroan telah mengungkapkan informasi

                                        Terbuka mengungkapkan               Modal yang mengatur mengenai penyampaian                 mengenai Pemegang Saham yang memiliki 5% (lima persen)

                                        pemilik manfaat akhir dalam         laporan tahunan Perusahaan Terbuka telah                 atau lebih saham Perusahaan Terbuka dalam Laporan

                                        kepemilikan saham Perusahaan        mengatur kewajiban pengungkapan informasi                Tahunan di bagian Komposisi Pemegang Saham.

                                        Terbuka paling sedikit 5% (lima     mengenai pemegang saham yang memiliki 5%

                                        persen), selain pengungkapan        (lima persen) atau lebih saham Perusahaan

                                        pemilik manfaat akhir dalam         Terbuka, ser ta kewajiban pengungkapan

                                        kepemilikan saham Perusahaan        informasi mengenai pemegang saham utama dan

                                        Terbuka melalui pemegang            pengendali Perusahaan Terbuka.

                                        saham utama dan pengendali.


               Tata Kelola Perusahaan                 Tanggung Jawab Sosial Perusahaan                         Referensi                               Laporan Keuangan                        217
               Corporate Governance                     Corporate Social Responsibility                       References                              Financial Statements                       5
Page 226
                                                                                                                                  2024 Annual Report



      Prinsip               Rekomendasi                      Keterangan Rekomendasi OJK                                 Penjelasan Penerapan SPINDO
      Principle           Recommendation                   OJK Recommendation Statements                             SPINDO Implementation Statements

                  8.2 The Annual Report of a Public      The laws and regulations in the Capital Market      Comply; The Company has disclosed information regarding

                       Company discloses the ultimate    sector that regulate the submission of the annual   Shareholders who own 5% or more of the Company's shares

                       beneficial owner in                report of the Public Company have set the           in the Annual Report in the Shareholders Composition

                       shareholdings in a Public         obligation to disclose information about            section.

                       Company of at least 5% (five       shareholders who own 5% (five percent) or more

                       percent), other than the          shares of the Public Company, as well as the

                       declaration of the ultimate       obligation to disclose information about the main

                       beneficial owner in the            shareholders and controllers of the Public

                       shareholding of a Public          Company.

                       Company through the main and

                       controlling shareholders.




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       Tata Kelola Perusahaan   Tanggung Jawab Sosial Perusahaan     Referensi    Laporan Keuangan      219
       Corporate Governance       Corporate Social Responsibility   References   Financial Statements     6
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                                                                                                                    2024 Annual Report



Tanggung Jawab Sosial Perusahaan
Corporate Social Responsibility Policy


Komitmen Pada Tanggung Jawab Sosial | Commitment Towards Social Responsibility

 Perseroan meyakini bahwa pengelolaan sumber daya alam sebagai            The Company believes that management of natural resources as part
 bagian dari rantai nilai Perusahaan harus memberikan manfaat bagi        of its value chains should benefit all stakeholders and the lives of the
 para Pemangku Kepentingan dan kehidupan masyarakat pada saat             community presently and in the future. By emphasizing the
 ini dan masa mendatang. Dengan mengedepankan harmoninasi                 harmonization between the social, environmental and business
 antara kepentingan Sosial, Lingkungan, dan Bisnis (People, Planet,       interests (People, Planet, Profit), the system and programs applied in
 Profit) maka sistem dan program yang diterapkan Perseroan dalam           the Company’s operations will display the harmonization of the three.
 menjalankan operasionalnya mencerminkan harmonisasi ketiganya.


 Perseroan meyakini harmonisasi kepentingan-kepentingan tersebut          The Company is convinced that the harmonization of these interests
 akan menghasilkan keberlanjutan pertumbuhan bisnis. Komitmen             will deliver sustainable business growth. Our commitment to
 Perseroan dalam mencapai keberlanjutan di berbagai sisi ditunjukkan      achieving sustainability in all aspects is reflected in the various Social
 dengan berbagai program Tanggung Jawab Sosial dan Lingkungan             and Environmental Responsibility programs which are known as
 yang lebih dikenal dengan Corporate Social Responsibility (CSR).         Corporate Social Responsibility (CSR).




Metode & Lingkup Uji Kelayakan Dampak Sosial, Ekonomi, dan Lingkungan |
Method & Scope of Due Diligence Test on Social, Economic, and Environmental Impacts

 Perencanaan, pelaksanaan, dan pengawasan setiap tahapan rantai           The Company refer to the established standards in its planning,
 produksi dilakukan dengan mengacu pada standar yang telah                execution, and supervision process on every stages of its production
 ditetapkan. Keseluruhan prosedur berpedoman pada ISO 26000               chains. Entire procedures refer to ISO 26000 as guidance in
 sebagai panduan dalam pelaksanaan tanggung jawab sosial                  implementing CSR in all areas through the following method:
 Perseroan di semua bidang melalui metode sebagai berikut:




            Tahap 1 : Identifikasi                              Tahap 2 : Prioritas                               Tahap 3 : Tinjauan
            Phase 1 : Identification                             Phase 2 : Priority                                Phase 3 : Review

 Dilakukan sebuah proses yang bertahap           Selanjutnya, dari hasil inventarisasi dampak,       Dari hasil pemilahan dan penilaian
 dalam mengidentifikasi dampak operasional        dilakukan proses skoring atau penilaian guna        berdasarkan persepsi dan dampak terhadap
 Perusahaan. Proses ini melibatkan setiap        mengukur tingkat signifikansi dampak                 keberlanjutan perusahaan, maka Perseroan
 Departemen dan juga segmen usaha.               terhadap operasional Perusahaan.                    membuat program dan anggaran biaya.
 We carry out a gradual process in identifying   Furthermore, from the results of the impact         From the results of sorting and assessment
 the operational impacts. This process           inventory, a scoring or assessment process is       based on perception and impact on the
 involves every Department and business          carried out to measure the significance of the       Company’s sustainability, the Company
 segment.                                        impact on the Company’s operations.                 prepares the programs and budget.




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  Pemangku Kepentingan yang Terdampak dari Kegiatan Perseroan |
  Stakeholders Impacted By Company’s Activities

  Perseroan menyadari bahwa Pemangku Kepetingan memegang                       We realized that stakeholders have a significant role in the
  peranan penting terhadap operasional perusahaan. Untuk itu penting           Company’s operation process. Therefore, it is important for SPINDO
  bagi SPINDO senantiasa menjaga hubungan baik dengan para                     to always maintain a good relationship with the stakeholders.
  Pemangku Kepentingan. Pemangku Kepentingan diidentifikasikan                  Stakeholder means entities who can influence and impact the
  sebagai pihak yang dapat memengaruhi operasional serta arah                  Company’s operations process and strategic course.
  strategis Perseroan, termasuk pihak yang terdampak dari operasional
  dan arah strategis Perusahaan.




           Bisnis Proses                                            Dampak                                     Pemangku Kepentingan
          Business Process                                           Impact                                        Stakeholder


  Perencanaan strategis & anggaran        1. Penetapan biaya | Costing                            1.   Pemegang saham | Shareholders
  Strategic planning and budget           2. Penetapan rencana strategis | Strategic planning     2.   Induk usaha | Parent/Holding Company
                                                                                                  3.   Anak usaha | Subsidiaries
  Pengembangan bisnis & proyek            1. Penjualan | Company sales                            1.   Pemegang saham | Shareholders

  Business and Project Development        2. Kelengkapan administrasi & perizinan perusahaan |    2.   Anak usaha | Subsidiaries

                                          Complete administration & company’s license             3.   Partner bisnis | Business partners
                                          3. Transparansi informasi | Information transparency    4.   Kontraktor / vendor | Contractors / vendors

                                          4. Dukungan operasional | Operational support           5.   Pemerintah daerah / pusat | Local / central
                                                                                                       government
                                                                                                  6.   Lembaga hukum | Legal institutions
                                                                                                  7.   Penegak hukum | Law enforcement
                                                                                                  8.   Pekerja | Workers

  Operasional                             Kelancaran operasional | Operational continuity         1.   Pemerintah daerah / pusat | Local / central

  Operation                                                                                            government
                                                                                                  2.   Vendor/kontraktor | Vendors/contractors
                                                                                                  3.   Karyawan | Employees
                                                                                                  4.   Masyarakat | Communities
                                                                                                  5.   Penegak hukum | Law enforcer
                                                                                                  6.   Organisasi/asosiasi | Organizations/associations
                                                                                                  7.   LSM | NGOs
                                                                                                  8.   Media | Media
                                                                                                  9.   Lembaga survey | Survey institutions

  Pelaporan                               1. Input data | Data Input                              1.   Pemerintah dan Regulator | Government and

  Reporting                               2. Menerima laporan | Receiving/Collecting reports           Regulator
                                                                                                  2.   Pemegang saham | Shareholders




           Tata Kelola Perusahaan     Tanggung Jawab Sosial Perusahaan                Referensi                     Laporan Keuangan                 221
           Corporate Governance         Corporate Social Responsibility              References                    Financial Statements                6
Page 230
                                                                                                                   2024 Annual Report




                                        Metode Pelibatan/Pendekatan Pemangku Kepentingan
                                                 Stakeholders Engagement Method

          Pemangku Kepentingan                              Metode Pelibatan/Pendekatan                                         Frekuensi
              Stake Holders                                     Engagement Method                                               Frequency


 1.     Pemegang Saham                      RUPS | GMS                                                                Rutin & situasional
        Shareholders                        Rapat | Meeting                                                           Routines & Accordingly
 2.     Induk Usaha                         Rapat | Meeting                                                           Rutin & situasional
        Parent/Holding Business                                                                                       Routines & Accordingly
 3.     Anak usaha                          Rapat berkala | Periodic Meeting                                          Rutin & situasional
        Subsidiaries                        Komunikasi/koordinasi | Communication/Coordination                        Routines & Accordingly
 4.     Karyawan                            Musyawarah | Townhall                                                     Rutin & situasional
        Employees                           Rapat | Meeting                                                           Routines & Accordingly
                                            Jajak pendapat | Polling
                                            Silaturahmi | Gathering
 5.     Pemerintah Daerah/Pusat             Laporan | Report                                                          Rutin & situasional
        Local/Central Government            Perizinan | Licensing/Permit                                              Routines & Accordingly
                                            Konsultasi | Consultation
 6.     Masyarakat                          Pertemuan langsung | Face-to-face interaction                             Situasional
        Society                                                                                                       Accordingly
 7.     Pelanggan                           Jajak pendapat | Polling                                                  Situasional
        Buyers                              Umpan balik penjualan | Sales feedback                                    Accordingly
                                            Kontrak | Contract
 8.     Kontraktor                          Kontrak | Contract                                                        Situasional
        Vendors (contractors)               Rapat | Meeting                                                           Accordingly
 9.     Penegak hukum                       Konsultasi | Consultation                                                 Situasional
        Law Enforcer                                                                                                  Accordingly
 10.    Organisasi/Asosiasi                 Rapat | Meeting                                                           Situasional
        Organizations/Associations                                                                                    Accordingly
 11.    LSM                                 Silaturahmi | Gathering                                                   Situasional
        NGOs                                                                                                          Accordingly
 12.    Lembaga Survey                      Kontrak | Contract                                                        Situasional
        Surveyors                                                                                                     Accordingly
 13.    Partner bisnis                      Konsultasi | Consultation                                                 Situasional
        Business Partners                                                                                             Accordingly



 Stakeholder Relations di bawah kontrol Sekretaris Perusahaan              Stakeholder Relations, under the control of the Company Secretary, is
 bertanggung jawab untuk mengkoordinasikan dan memastikan                  responsible for coordinating and ensuring the implementation of CSR
 pelaksanaan kegiatan CSR sesuai dengan program yang telah                 activities in accordance with the program prepared and approved by
 disusun dan disetujui oleh Direksi. Seluruh kegiatan CSR yang             the Board of Directors. All CSR activities carried out by SPINDO are
 dilaksanakan SPINDO diintegrasikan dengan kegiatan usaha utama            integrated with the Company's main business activities to have a
 Peerseroan sehingga mampu memberikan dampak yang positif bagi             positive impact on stakeholders.
 para Pemangku Kepentingan.




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  Isu-Isu Penting Sosial, Ekonomi dan Lingkungan | Material Issues On Social, Economy and Environment


  Didasarkan atas hasil pemetaan, maka isu-isu penting (material) yang                   According to the roadmap, material issues related to the Company’s
  terkait dampak ekonomi, lingkungan dan sosial Perusahaan selama                        economic, environmental and social impact in 2024 are as follows:
  tahun 2024, adalah sebagai berikut:



                                             Isu-Isu Penting Sosial, Ekonomi dan Lingkungan
                                            Material Issues On Social, Economy And Environment
            Area                                        Isu                                                    Keterangan
            Area                                      Issues                                                   Description

 Ekonomi                 1. Kinerja perusahaan.                       1. Kinerja Perseroan telah menciptakan ekonomi langsung kepada masyarakat.
 Economy                 2. Dampak operasional                            Produk dan jasa yang ditawarkan Perseroan meliputi bidang dan pasar yang
                             perusahaan terhadap                          beragam.
                             masyarakat sekitar lingkungan            2. Operasional Perseroan di berbagai daerah telah secara langsung memacu putaran
                             produksi.                                    roda perekonomian. Banyaknya tenaga kerja yang terserap, baik langsung maupun
                                                                          tidak langsung telah membantu daerah dalam mengurangi pengangguran dan
                                                                          kemiskinan.
                         1. Company performance                       1. The Company's operating results have created a direct economy for the
                         2. The impact of company                         community. The products and services provided by the Company cover many
                             operations on communities                    different fields and markets.
                             surrounding the production               2. The Company's activities in many different areas have directly promoted the
                             environment.                                 economy. The large amount of labor absorbed, directly and indirectly, has helped
                                                                          the region reduce unemployment and poverty.


 Sosial                  1. Ketenagakerjaan                           1. Perseroan memiliki jumlah karyawan permanen yang lebih banyak daripada
 Social                  2. Pelatihan dan pengembangan                    karyawan kontrak.
                             kompetensi karyawan.                     2. Peningkatan pesat jumlah pelatihan dan pengembangan kompetensi karyawan
                         3. Keselamatan dan kesehatan                     setiap tahunnya untuk mendukung kinerja produksi.
                             Kerja.                                   3. Pelaksanaan prosedur Keselamatan dan Kesehatan Kerja (K3) sebagai upaya
                         4. Kegiatan sosial untuk                         meminimalisasi kecelakaan dan kerugian akibat insiden.
                             masyarakat sekitar lingkungan            4. Perseroan memiliki Program Dana Pengembangan Masyarakat disalurkan dalam 4
                             unit pabrik.                                 (empat) bidang utama, yaitu: Kontribusi kepada Komunitas, Amal / Santunan,
                                                                          Sponsorship, dan Pembangunan Infrastruktur. Keempat bidang ini diasumsikan
                                                                          dapat memenuhi kebutuhan masyarakat sekitar wilayah operasional.
                         1. Employment                                1. The company has more permanent employees than contract employees.
                         2. Training and competency                   2. Rapidly increase the amount of employee training and skills development annually
                             development for employees                    to support production efficiency.
                         3. Occupational safety and                   3. Implement Occupational Safety and Health (OSH) procedures to minimize
                             health                                       accidents and losses due to incidents.
                         4. Social activities for the                 4. The Company has a Community Development Fund Program divided into 4 (four)
                             communities around the                       main areas, specifically: Contribution to the community, Charity / Compensation,
                             manufacturing plant region.                  Grant, and Infrastructure development. These four areas are expected to be able to
                                                                          meet the needs of the communities surrounding the operation area.




           Tata Kelola Perusahaan             Tanggung Jawab Sosial Perusahaan                 Referensi                      Laporan Keuangan           223
           Corporate Governance                 Corporate Social Responsibility               References                     Financial Statements          6
Page 232
                                                                                                                         2024 Annual Report




                                        Isu-Isu Penting Sosial, Ekonomi dan Lingkungan
                                       Material Issues On Social, Economy And Environment

            Area                                 Isu                                                       Keterangan
            Area                               Issues                                                      Description


 Lingkungan           1. Efisiensi Energi                            1. Perseroan berupaya menekan penggunaan energi dan mencari sumber
 Environment          2. Pengendalian Limbah                            energi ramah lingkungan - listrik tenaga matahari (solar cell)
                      3. Penghijauan di sekitar lingkungan          2. Perseroan mematuhi peraturan dan perundang-undangan pemerintah
                        industri                                        Indonesia.
                                                                    3. Perseroan turut berpartisipasi dalam Hari Lingkungan Hidup tahun 2023,
                                                                        bersama DLH Provinsi Jawa Timur melakukan penanaman 10.000 bibit
                                                                        pohon.
                      1. Energy Efficiency                           1. The company strives to reduce energy consumption and seek
                      2. Waste Control                                  environmentally friendly energy sources - solar power (solar cells)
                      3. Reforestation in industrial                2. The company complies with the rules and regulations of the Indonesian
                        environment                                     government .
                                                                    3. The company participated in Environment Day 2023, in collaboration with
                                                                        DLH East Java Province, by planting 10,000 tree seedlings.




Pembiayaan dan Anggaran | Financing and Budget

 Keseluruhan pembiayaan dalam pelaksanaan program tanggung                       The complete funding for the execution of the social responsibility
 jawab sosial seluruhnya berasal dari alokasi keuangan Perseroan serta           program is sourced solely from the financial resources of the
 anak usaha. Selama Periode 2024, Perseroan telah merealisasikan                 Company and its subsidiaries. In the year 2024, the Company has
 program tanggung jawab sosial dengan biaya sebesar                              invested a total of Rp 739,719,723 in the social responsibility
 Rp 739.719.723                                                                  program.


 Nilai dana program tanggung jawab sosial setiap tahun berbeda-beda              The amount allocated for the social responsibility program fluctuates
 tergantung kebutuhan dari masyarakat sekitar.                                   annually, reflecting the requirements of the local community.




224                   Ikhtisar Utama                    Laporan Manajemen                     Profil Perusahaan           Analisa & Pembahasan Manajemen
  6                     Highlights                      Management Report                     Company Profile             Management Discussion & Analysis
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Laporan Tahunan 2024




  Keterlibatan Karyawan | Employee Engagement
  Keterlibatan kar yawan memainkan peran penting dalam                      Employee engagement plays a crucial role in fostering a positive
  membangun budaya organisasi yang positif dan menyelaraskan                organizational culture and aligning employees with the company’s
  karyawan dengan tujuan strategis perusahaan. Perseroan secara             strategic goals. Our company actively engages with employees
  aktif melibatkan karyawan melalui saluran komunikasi yang rutin,          through regular communication channels, feedback mechanisms,
  mekanisme umpan balik, dan partisipasi dalam proses pengambilan           and participation in decision-making processes. This ensures that
  keputusan. Hal ini memastikan bahwa karyawan tidak hanya                  staff are not only informed about company performance and future
  diinformasikan tentang kinerja dan rencana masa depan Perseroan,          plans but are also given a platform to voice their concerns, ideas, and
  tetapi juga diberikan platform untuk menyampaikan kekhawatiran,           suggestions. By cultivating a transparent and inclusive environment,
  ide, dan saran mereka. Dengan menciptakan lingkungan yang                 we aim to enhance employee satisfaction, increase productivity, and
  transparan dan inklusif, Perseroan bertujuan untuk meningkatkan           strengthen our commitment to continuous improvement.
  kepuasan karyawan, meningkatkan produktivitas, dan memperkuat
  komitmen kami terhadap perbaikan berkelanjutan.




  SPINDO Annual Meeting 2024-2025
  Level Up : Shaping The Future
  Defend - Extend - Transform

  Tema Annual Meeting 2024-2025, “Level Up! Shaping The Future”             The theme of the 2024-2025 Annual Meeting, “Level Up! Shaping
  merupakan representasi semangat untuk selalu meningkat, tidak             The Future,” reflects the spirit of continuous improvement—not only
  hanya dalam hal performa dan efisiensi, tetapi juga dalam                  in terms of performance and efficiency but also in building broader
  membangun kemampuan dan visi yang lebih luas. Melalui annual              capabilities and vision. Through this annual meeting, it is hoped that
  meeting ini, diharapkan seluruh karyawan akan menggali potensi            all employees will tap into their potential and explore new
  karyawan serta mengeksplorasi peluang baru yang dapat membawa             opportunities that can lead us toward further transformation. This is a
  kita pada transformasi lebih lanjut. Ini adalah momen untuk bersama-      moment for all of us to collectively outline concrete steps to enhance
  sama merumuskan langkah-langkah konkrit dalam meningkatkan                product quality, expand business networks, and leverage the latest
  kualitas produk, memperluas jaringan bisnis, dan memanfaatkan             technologies to face future challenges.
  teknologi terbaru dalam menghadapi tantangan di masa depan.
                                                                            The year 2025 marks a crucial milestone for the company—not only
  Tahun 2025 menjadi momentum penting bagi Perseroan untuk tidak            to survive but also to experience rapid growth by taking innovative
  hanya bertahan, tetapi juga berkembang dengan pesat, mengambil            steps to address global challenges and enhance competitiveness in
  langkah-langkah inovatif untuk menghadapi tantangan global dan            an increasingly competitive market. This theme represents the
  meningkatkan daya saing di pasar yang semakin kompetitif. Tema ini        company’s determination to continue making significant strides in
  mewakili tekad Perseroan untuk terus melakukan lompatan besar             quality, technology, and operational efficiency.
  dalam kualitas, teknologi, dan efisiensi operasional.
                                                                            This Annual Meeting will serve as a platform for all stakeholders to
  Annual meeting ini akan menjadi ajang bagi seluruh pemangku               share their vision and strategies in realizing a superior, efficient, and
  kepentingan untuk berbagi visi dan strategi dalam mewujudkan              sustainable steel pipe manufacturing company in the future.
  perusahaan manufaktur pipa baja yang lebih unggul, efisien, dan
  berkelanjutan di masa depan.




          Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan          Referensi                      Laporan Keuangan              225
          Corporate Governance            Corporate Social Responsibility        References                     Financial Statements             6
Page 234
                                                                                                                      2024 Annual Report



 Pelaksanaan Annual Meeting and Team Recharging 2024 | Implementation of the 2024 Annual Meeting
 and Team Recharging

 Annual Meeting 2024 berlangsung mulai tanggal 12 Desember                 The 2024 Annual Meeting will take place from December 12, 2024,
 2024 hingga 14 Desember 2024 di Hotel Surya, Tretes. Kegiatan hari        to December 14, 2024, at Hotel Surya, Tretes. The first day will begin
 pertama dimulai dengan sambutan dari Bp Vincent Makmur Widjaja,           with opening remarks from Mr. Vincent Makmur Widjaja, the
 sebagai komisaris utama Perseroan dan Bp Tedja Sukmana                    Company’s Commissioner, and Mr. Tedja Sukmana Hudianto, the
 Hudianto, sebagai Wakil Direktur Utama Perseroan. Acara                   Vice President Director of the Company. The event will continue with
 dilanjutkan dengan pemaparan SPINDO Corporate Objectives &                a presentation of SPINDO Corporate Objectives & Targets for 2025
 Target 2025 oleh Bp Johanes W Edward dan materi motivator oleh            by Mr. Johanes W. Edward, followed by a motivational session by Mr.
 Bp Paulus Bambang.                                                        Paulus Bambang.


 Acara utama hari pertama yaitu Presentasi Pencapaian Hasil Kerja          The main event on the first day will be the Presentation of 2024
 2024 & Program Kerja 2025 yang disampaikan oleh seluruh kepala            Achievements & 2025 Work Programs, delivered by the heads of all
 divisi Perseroan. Perseroan juga menyerahkan hadiah kepada para           company divisions. The company will also award prizes to the
 juara turnamen SPINDO Cup dalam acara Awarding Night SPINDO               winners of the SPINDO Cup tournament during the Awarding Night
 Cup. Seluruh acara dirancang dengan penuh kebersamaan antar               of the SPINDO Cup. All events are designed to foster camaraderie
 karyawan dan manajemen.                                                   between employees and management.


 Acara hari ke dua merupakan acara yang bertemakan Team Building.          The second day will focus on Team Building activities, starting with a Line
 dimulai dengan agenda Line Dance dan pemberian sambutan Team              Dance session and an opening speech on Team Building by Mr. Johanes
 Building oleh Bp Johanes W Edward. Beberapa permainan turut               W. Edward. Several games will be organized to enliven the event,
 memeriahkan acara yaitu Ontong-Ontong Bolong, On The Road,                including Ontong-Ontong Bolong, On The Road, Tembak Dor, Take Me
 Tembak Dor, Take Me Out, Borgol, Paper Walk, Jenga, Starter Game,         Out, Borgol, Paper Walk, Jenga, Starter Game, and Project Game, which
 dan Project Game yang diikuti oleh seluruh peserta. Keseluruhan acara     will be participated by all attendees. The entire event will be concluded
 ditutup oleh Bp Tedja Sukmana Hudianto dan Bp Johannes W Edward.          by Mr. Tedja Sukmana Hudianto and Mr. Johanes W. Edward.




 Tim Panitia Annual Meeting & Team Recharging 2024 | Annual Meeting & Team Recharging 2024 Committee Team
 Pelindung | Patron                                                 : Tedja S. Hudianto
 Penasehat | Advisors                                               : 1. Johannes W. Edward
                                                                     2. Hanny Purnomo
                                                                     3. Nico Gunawan
 Penanggungjawab Acara | Event Coordinator                          : Budi Dwi Santoso
 Penanggungjawab IT | IT Coordinator                                : Steven Utomo
 Penanggungjawab Purchasing | Purchasing Coordinator                : Edy Lemena Amsalgi
 Ketua Panitia | Committee Chair                                    : Dailinar Utomo
 Wakil Ketua Panitia | Vice Committee Chairs                        : 1. Amanda Shifattul Jannah
                                                                     2. Elsita Octarina
 Seksi-seksi Acara | Event Sections                                 : Tim HRD & Tim Marketing



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Laporan Tahunan 2024



  Tanggung Jawab Sosial Perusahaan
  Terkait Hak Asasi Manusia
  Corporate Social Responsibility Related to Human Rights



  Komitmen Tanggung Jawab Sosial Terkait Hak Asasi Manusia |
  Corporate Social Responsibility Commitment Related to Human Rights

  Komitmen Perseroan untuk menghormati hak asasi manusia                    Our commitment to respecting human rights is actualized in the
  diwujudkan dalam Peraturan Perusahaan dan juga standar                    Company Regulations and the existing operational standards such as
  operasional yang ada seperti Sistem Manajemen, Perilaku Bisnis dan        Management System, Code of Ethics and Business Conduct. In order
  Kode Etik. Demi mewujudkan komitmen ini, Perseroan mengadopsi             to manifest this commitment, the Company adopted Human Rights
  Kebijakan Hak Asasi Manusia Perusahaan dalam setiap pengambilan           Policies in every decision-making process.
  keputusan.




  Pelaksanaan Inisiatif Hak Asasi Manusia [HAM] | Implementation Of Human Rights Initiatives

  Seluruh karyawan SPINDO diharuskan untuk menegakkan HAM                   All employees are required to uphold human rights in
  dalam setiap operasionalnya, diantaranya mencakup:                        every activity which includes:
  Ÿ   Sikap mendukung dan meghargai keberagaman di tempat kerja             Ÿ   Supportive attitude and to respect diversity at workplace and not
      dan tidak melakukan diskriminasi berdasarkan Suku, Agama, Ras.            to discriminate based on ethnicity, religion and race.
  Ÿ   Sikap non-diskriminasi tersebut harus tercermin dalam                 Ÿ   Non-discriminatory attitude must be reflected in the daily
      keseharian kegiatan operasional karyawan di Perusahaan. Hal               operational activities of employees in the workplace. It applies to
      tersebut berlaku untuk proses rekruitmen Departemen SDM dan               the HR Department’s recruitment process including employee
      juga proses pengangkatan atau promosi karyawan.                           appointment or promotion process.
  Ÿ   Sikap non-diskriminasi tersebut juga berlaku dalam proses             Ÿ   This non- discriminator y at titude also applies to the
      pemilihan supplier/vendor serta turunannya.                               supplier/supplier selection process and its derivative products.
  Ÿ   Menghargai kebebasan berpendapat dan berserikat dan                   Ÿ   Respect freedom of opinion and association and collective
      perundingan bersama.                                                      bargaining.
  Ÿ   Menjunjung tinggi etos kerja dan memberikan penghargaan atas          Ÿ   Upholding work ethics and giving appreciation for the work done
      pekerjaan yang dilakukan karyawan serta tidak melakukan kerja             by employees and not carrying out forced labor.
      paksa.                                                                Ÿ   Do not employ underage workers in the workplace.
  Ÿ   Tidak mempekerjakan pekerja di bawah umur di tempat kerja.            Ÿ   Protect all employees and assets and provide a safe environment
  Ÿ   Melindungi seluruh karyawan dan aset serta menyediakan                    for business operations.
      lingkungan yang aman agar operasi bisnis dapat berjalan dengan        Ÿ   Every employee reserves the rights to a safe work environment in
      lancar.                                                                   regards to the safety of the occupation itself or safety during off-
  Ÿ   Setiap karyawan berhak atas lingkungan kerja yang aman dalam              site duties.
      hal berkaitan dengan keamanan pekerjaan itu sendiri (safety)          Ÿ   SPINDO prohibits verbal harassment and sexual harassment
      ataupun keamanan saat karyawan bekerja di luar kantor.                    while on the job, at workplace and business travel or during off-
  Ÿ   SPINDO tidak memperbolehkan adanya pelecehan secara verbal                site meeting events. The scope also applies during a leave of
      ( Verbal Harassment ) dan pelecehan seksual (Sexual                       absence.
      Harassment) selama bekerja, di tempat kerja dan Perjalanan
      Dinas atau rapat-rapat di luar kantor. Cakupan ini juga berlaku di
      antara karyawan selama waktu tidak bekerja di luar lingkungan
      kantor.




           Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan           Referensi                      Laporan Keuangan             227
           Corporate Governance           Corporate Social Responsibility         References                     Financial Statements            6
Page 236
                                                                                                                     2024 Annual Report




 Ÿ    Setiap karyawan berhak atas lingkungan kerja yang aman, bebas       Ÿ   Every employee has the rights to work environments that are safe,
      dari pelecehan secara verbal, fisik atau pelecehan lainnya. Dengan       free from verbal and physical harassments or any other forms of
      demikian, harus tercipta kerja sama antara setiap atasan dan            harassment. Therefore, every superior and their respective team
      karyawan untuk membentuk lingkungan kerja yang bebas dari               members must work together to create a safe and harassment-
      pelecehan.                                                              free work environment.
 Ÿ    Bagi karyawan SPINDO yang meyakini dirinya telah dilecehkan         Ÿ   For employees who believe to have been harassed in any form
      dalam bentuk apapun, hendaknya melaporkan kejadian tersebut             should file a complaint report to his/her superior or the Board of
      kepada atasannya atau Direksi atau Departemen SDM atau                  Directors or HR Department or through Whistleblowing System
      melalui Sistem Whistleblowing yang dimiliki Perusahaan. Atas hal        established by the Company. In this case, the Company have
      ini, Perseroan telah melakukan sosialisasi mekanisme pelaporan,         conducted socialization of reporting mechanism, activation and
      aktivasi dan bimbingan integritas Perseroan yang diselenggara-          integrity guidance organized by Internal Audit Division.
      kan oleh Divisi Internal Audit.                                     Ÿ   Penalty or counseling sessions for violations committed will be
 Ÿ    Hukuman atau pembinaan atas pelangaran–pelanggaran yang                 followed up according to the application Company Regulations.
      terjadi, akan ditindaklanjuti sesuai dengan Peraturan Perusahaan    Ÿ   To respect human rights by encouraging a two-way proactive and
      yang berlaku.                                                           sustainable communication with the community and
 Ÿ    Menghormati Hak Asasi Manusia dengan mendorong komunikasi               stakeholders.
      dua arah proaktif serta berkelanjutan dengan masyarakat dan         Ÿ   To honor the rights of stakeholders and shareholders by providing
      Pemangku Kepentingan.                                                   valid information including information on capital market
 Ÿ    Menghormati HAM para Pemangku Kepentingan dan Pemegang                  practices.
      Saham melalui penyajian informasi yang valid termasuk bagi
      praktik pasar modal.




Pencapaian CSR di Bidang Hak Asasi Manusia | CSR Achievements In Human Rights
 Perseroan secara aktif memastikan setiap operasional Perseroan di        The Company has been very active in ensuring that its operations
 wilayah manapun tidak bertentangan dan melanggar prinsip dasar           process in all of its operational areas are not against and do not violate
 HAM. Perseroan juga mengadakan sosialisasi terhadap kode etik dan        the basic principles of human rights. The Company also held
 peraturan perusahaan yang selaras dengan penerapan HAM di                socialization related to the Code of Conduct and Company Regulation
 lingkungan Perseroan. Tidak hanya itu, Perseroan juga memastikan         that is consistent with the implementation of human rights in the
 mitra kerja selalu menjunjung tinggi HAM dalam proses                    Company’s environment. Not only that, the Company also made sure
 kemitraannya, seperti tidak memperkerjakan anak di bawah umur            that its work partners always honor the principle of human rights in its
 dan juga diskriminatif terkait SARA. Sepanjang tahun 2023,               partnership process for instance to not employ minors and implement
 Perseroan tidak mendapatkan laporan mengenai pelanggaran HAM             discriminative policies. Throughout 2023, the Company did not
 yang berkaitan dengan praktik ketenagakerjaan ataupun masyarakat         receive any complaints of human rights violations in regards to
 sekitarnya.                                                              employment practices or the surrounding communities.




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  Komitmen Tanggung Jawab Sosial Perusahaan Terkait Operasi Yang Adil |
  Corporate Social Responsibility Commitment Related To Fair Operations

  Operasi yang adil tercermin melalui penerapan sistem GCG di               A fair operation is mirrored through the implementation of GCG
  pelaksanaan operasional Group SPINDO. Hal ini juga tercermin dari         system in SPINDO Group operation process and through the
  berbagai kebijakan untuk memastikan operasi yang adil, antara lain        company’s established policies namely policies on anti-corruption,
  kebijakan anti korupsi, kebijakan hak-hak kreditur, pengadaan barang      rights of creditors, transparent goods and services procurement and
  dan jasa yang transaparan serta kebijakan pelaporan pelanggaran.          complaint reporting.




  Pelaksanaan Inisiatif Operasi Yang Adil | Implementation Of Fair Operation Initiatives

  Setiap karyawan Perseroan diwajibkan melaksanakan budaya anti             Every employee is obligated to apply anti-corruption culture in its
  korupsi dalam operasionalnya. Selain guna terhindar dari masalah          daily operations which aims to deter legal problem while at the same
  hukum, hal ini juga akan menciptakan budaya efisien dan transparan.        time it will build a culture of efficiency and transparency.


  1.   Kampanye Anti Korupsi                                                1. Anti-Corruption Campaign
       Demi mewujudkan lingkungan usaha yang bersih dan sehat,                  The Company is committed to safeguarding the integrity instilled
       Perseroan senantiasa menjaga integritas dari seluruh Insan               in all members of the Company in order to create a healthy and
       Perseroan. Perseroan dengan tegas menolak adanya praktik                 clean business environment. The Company unequivocally rejects
       KKN (Korupsi, Kolusi dan Nepotisme). Sebagai dasar                       corruption, collusion and nepotism practices. The basis of the
       kebijakannya, melalui Surat Keputusan Bersama Dewan                      policy is the Joint Decree of the Board of Commissioners and
       Komisaris dan Direksi tentang Pedoman Tata Kelola Perusahaan             Directors on Corporate Governance Guidelines and Code of
       dan Pedoman Etika Perilaku, Perseroan menyatakan komitmen                Ethics and Conduct in which stated the Company’s commitment
       untuk melaksanakan proses bisnis dengan mengutamakan etika               to implementing a business process that emphasizes ethics of
       dalam berbisnis dan berperilaku. Bentuk komitmen tersebut                doing business and conduct. The manifestation of such
       antara lain larangan adanya benturan kepentingan dalam                   commitments including a prohibition of conflict of interest in
       menjalankan proses bisnis, larangan menerima dan memberi                 executing business process, prohibition of accepting and giving
       suap, larangan gratifikasi. Sosialisasi mengenai hal ini dilakukan        bribes and prohibition of gratification. Socialization activities in
       sebanyak minimal 1 (satu) kali, melalui media komunikasi (baik           respect of these policies were conducted at least once a year,
       lisan maupun tertulis) yang ada di perusahaan. Upaya                     through company’s media communication (both oral and written).
       awareness juga dilakukan dengan memasukkan materi anti                   Activities to enhance awareness were also incorporated in the
       korupsi dalam orientasi karyawan baru. Ini dilakukan agar anti           new employee orientation program by inserting topics on anti-
       korupsi benarbenar dimengerti dan diimplementasikan dalam                corruption. The aim is to increase employees’ understanding
       aktivitas operasional sehari-hari dan menjadi budaya                     about anti-corruption and implementing it in the daily operational
       perusahaan.                                                              activities and to become corporate culture.




          Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan          Referensi                       Laporan Keuangan            229
          Corporate Governance            Corporate Social Responsibility        References                      Financial Statements           6
Page 238
                                                                                                                  2024 Annual Report




 2.   Persaingan Usaha yang Sehat                                        2. Healthy Business Competition
      Operasional Perseroan juga menjunjung tinggi persaingan               The company’s operation also values a healthybusiness
      usaha yang sehat serta menghargai hak kepemilikan setiap              competition and respects property rights of every stakeholder for
      Pemangku Kepentingan. Hal ini sangat mendukung operasional            it will provide strong support to fair operations and to stave off
      yang adil dan terhindar dari berbagai tuntutan dan sanksi hukum.      lawsuits and legal sanctions. Furthermore, it will increase the
      Selain itu, rumusan ini juga akan mendukung peningkatan citra         Company’s positive image to stakeholders.
      perusahaan kepada para Pemangku Kepentingan.
 3.   Transparansi Pengadaan Barang dan Jasa                             3. Transparency in Goods and Services Procurement
      Perseroan memberikan kesempatan yang sama kepada semua                The Company provides equal opportunities to all parties to
      pihak untuk menjadi mitra dalam proses pengadaan barang dan           become partners in goods and services procurement, according
      jasa, sesuai dengan persyaratan yang ditetapkan. Semua                to established requirements. All provisions and information
      ketentuan dan informasi mengenai pengadaan barang dan jasa,           pertaining to goods and services procurement including
      termasuk syarat teknis administrasi pengadaan, tata cara              procurement administrative requirements, evaluation
      evaluasi, hasil evaluasi, penetapan calon penyedia barang dan         procedures, evaluation results, determining goods and services
      jasa, sifatnya terbuka bagi peserta penyedia barang dan jasa          supplier candidates are open to all interested suppliers.
      yang berminat.




  Pencapaian CSR di Bidang Operasi Yang Adil | CSR Achievements In Fair Operations

  Sepanjang tahun 2024, Perseroan menerima nihil laporan atas             Throughout 2024, the Company received zero report of an unfair
  temuan adanya tindakan operasional yang tidak adil. SPINDO              operational process. SPINDO believes such achievement is part of its
  meyakini bahwa pencapaian ini merupakan bagian upaya Perseroan          efforts in meeting all regulations, particularly in the information
  dalam memenuhi berbagai regulasi, khususnya di bidang                   disclosure and GCG aspects. The zero complaints either from
  keterbukaan informasi dan Tata Kelola Perusahaan yang baik. Tidak       employees or customers in regards to unfair practices that may lead
  adanya pengaduan yang diterima baik dari karyawan maupun                to material impact indicates that SPINDO has conducted a fair
  pelanggan terkait praktik ketidakadilan yang berdampak material         operation in related industries.
  menunjukan bahwa SPINDO telah melaksanakan kegiatan operasi
  yang adil di industri terkait.




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Page 239
Laporan Tahunan 2024



  Tanggung Jawab Sosial Perusahaan
  Terkait Lingkungan Hidup
  Corporate Social Responsibility Related to Environment




  Perseroan berkomitmen dalam menetapkan ketaatan terhadap peraturan dan             The Company is committed to remaining adhered to the prevailing laws and
  perundangan-undangan terkait tanggung jawab terhadap lingkungan hidup              regulations concerning environmental responsibility by referring to Law No.32
  yang mengacu pada Undang-Undang No.32 tahun 2009 tentang                           of 2009 on Environmental Protection and Management. It is one of the legal
  Perlindungan dan Pengelolaan Lingkungan Hidup. Perundangan tersebut                bases for the Company in preparing work program along with the Company’s
  menjadi salah satu dasar hukum bagi Perseroan dalam menyusun program               commitment towards GCG as required by the regulations.
  kerja seiring dengan komitmen Perusahaan terhadap Tata Kelola Perusahaan
  yang baik, sebagaimana disyaratkan perundangan.




  Pengelolaan Limbah | Waste Management
  Wujud ketaatan terhadap peraturan dan perundangan-undangan yaitu                   The form of compliance with laws and regulations is by having environmental
  dengan memiliki izin lingkungan, UKP dan UPL serta izin pengelolaan limbah.        permits, UKP and UPL as well as waste management permits. The following
  Berikut adalah jenis limbah dari operasional Perseroan dan pengelolaannya:         are types of waste from the Company's operations and their management:



                                                   Pengelolaan Limbah Terkait Tanggung Jawab Sosial Perusahaan
                                                    Waste Management Related to Corporate Social Responsibility

     Kategori Limbah                                                     Jenis                              Jumlah [Ton]                    Upaya Pengelolaan
     Waste Category                                                      Type                               Total [Tonnes]                  Management Step

  Cair | Liquid                      Oli Bekas                                                                       82,21
                                     Waste Oil
                                     Asam Bekas (HCL cair)                                                          953,04
                                     Used Acid (liquid HCL)
                                     Asam Pickling                                                                  552,82
                                     Pickling Acid
                                     Asam Bekas (H₂SO₄ Cair)                                                        509,62
                                     Used Acid (liquid H₂SO₄)                                                                             Dikelola oleh pihak ketiga
  Padat | Solid                      Aki/Batere bekas                                                                  1,21               Managed by a Third Party
                                     Used Battery
                                     Majun bekas / sarung tangan bekas                                              108.35
                                     Used Rag and Gloves
                                     Kemasan bekas, terkontaminasi B3                                                40.72
                                     Used Packaging contaminated by Hazardous and Toxic
                                     Substances
                                     Elektronik bekas (Lampu TL, Lampu LED, Bohlam, PCB, MCB)                          1,42
                                     Secondhand Electronics (TL lamps, LED lamps, Bulbs, PCB, MCB)
                                     Sludge Carbon                                                                  233.12




            Tata Kelola Perusahaan               Tanggung Jawab Sosial Perusahaan          Referensi                           Laporan Keuangan                 231
            Corporate Governance                   Corporate Social Responsibility        References                          Financial Statements                6
Page 240
                                                                                                                                           2024 Annual Report




Penghematan Penggunaan Energi | Energy Usage Savings
 Perseroan berkomitmen dalam penghematan penggunaan energi listrik yang                   The company is committed to saving the use of electrical energy which is
 diwujudkan dalam :                                                                       realized in:

                                                                Program Rencana Efisiensi Energi
                                                                 Energy Efficiency Plan Program
      Program         Unit                  Kapasitas                                                                  Penjelasan
      Program         Units                 Capacities                                                                 Explanation

 Solar Cell           Unit 4       310 kWp                          Selama tahun 2024, solar cell di unit 4 dapat menghasilkan energi listrik sebesar 405.595 kWh atau
                                   (Daya PLN terpasang              setara dengan pengurangan emisi karbon sebesar 352,87 Ton eq.
                                   3465 kVa)                        By 2024, the solar panel in Unit 4 will be able to produce 405,595 kWh of electrical energy,
                                   310 kWp                          equivalent to a carbon emission reduction of 352.87 tons of carbon equivalent.
                                   (Installed PLN power
                                   3465 kVa)


                      Unit 6       650 kWp                          Selama tahun 2024, solar cell di unit 6 dapat menghasilkan energi listrik sebesar 529.937 kWh atau
                                   (Daya PLN terpasang              setara dengan pengurangan emisi karbon sebesar 461,04 Ton eq.
                                   2180 kVa)                        By 2024, the solar panel in Unit 4 will be able to produce 529,937 kWh of electrical energy,
                                   650 kWp                          equivalent to a carbon emission reduction of 461.04 tons of carbon equivalent.
                                   (Installed PLN power
                                   2180 kVa)


                      Unit 5       1030 kWp                         Pada bulan Juli 2024, solar cell di unit 5 telah resmi beroperasi. Pada periode Juli - Desember 2024,
                                   (Daya PLN terpasang              solar cell di unit 5 dapat menghasilkan energi listrik sebesar 625.477 kWh atau setara dengan
                                   5100 kVa)                        pengurangan emisi karbon sebesar 544,16 Ton eq.
                                   1030 kWp                         In July 2024, the solar panels of Unit 5 will be officially put into operation. During the period from July
                                   (Installed PLN power             to December 2024, the solar panels of Unit 5 can produce 625,477 kWh of electricity, equivalent to
                                   5100 kVa)                        a carbon emission reduction of 544.16 tons of carbon equivalent.



        Program                 Unit                                                                                   Penjelasan
        Program                 Units                                                                                  Explanation

 Penggunaan Mini               Unit 1      Mini cooling tower ini bisa mengurangi konsumsi motor listrik dari sistem open loop ke close loop (efisiensi 61,76 kW)

 Cooling Tower                             This mini cooling tower can reduce electric motor consumption from an open loop system to a closed loop (efficiency 61.76 kW)

 sebagai alternatif
 efisiensi energi               Unit 2      Mini cooling tower ini bisa mengurangi konsumsi motor listrik dari sistem open loop ke close loop (efisiensi 48,58kW)

 listrik & air                             This mini cooling tower can reduce electric motor consumption from an open loop system to a closed loop (efficiency 45.58 kW)

 Using mini cooling
 towers as an                  Unit 3      Mini cooling tower ini bisa mengurangi konsumsi motor listrik dari sistem open loop ke close loop (efisiensi 3113,6 kWh/bulan)

 alternative for                           This mini cooling tower can reduce electric motor consumption from an open loop system to a closed loop system (efficiency

 energy and water                          3113.6 kWh/month)

 efficiency
                               Unit 6      Mini cooling tower ini bisa mengurangi konsumsi motor listrik dari sistem open loop ke close loop (efisiensi 48,58kW)
                                           This mini cooling tower can reduce electric motor consumption from an open loop system to a closed loop (efficiency 45.58 kW)




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  Sertifikasi Lingkungan | Environmental Certifications


  No.         Sertifikasi                                Unit                                                       Keterangan
             Certification                               Units                                                      Description
  1.    PROPER                      Unit 1,                                       m e m p e ro l e h P R O G R A M P E N I LA I A N P E R I N G KAT K I N E R J A
                                    Rungkut, Surabaya, Jawa Timur;                PERUSAHAAN DALAM PENGELOLAAN LINGKUNGAN HIDUP dengan
                                    Unit 3,                                       predikat peringkat “BIRU” dari Kementerian Lingkungan Hidup                     &
                                    Warugunung, Surabaya, Jawa Timur;             Kehutanan Republik Indonesia.
                                    Unit 5,                                       Obtained the “Corporate Performance Rating Assessment Program in
                                    Karawang, Jawa Barat;                         Environmental Management” with a "BLUE" rating from the Ministry of
                                    Unit 6,                                       Environment & Forestry of the Republic of Indonesia.
                                    Sidoarjo, Jawa Timur.


  2.    ISO 14001:2015              Unit 3,                                       Sertifikasi Penerapan Sistem Manajemen Lingkungan yang diberikan oleh
                                    Warugunung, Surabaya, Jawa Timur;             SAI GLOBAL.
                                    Unit 4,                                       Certification for the implementation of an Environmental Management
                                    Pasuruan, Jawa Timur.                         System is offered by SAI GLOBAL.


  3.    Industri Hijau -            Unit 3,                                       Sertifikasi Industri Hijau yang diterbitkan oleh Lembaga Sertifikasi Industri
        Industri Pipa Baja          Warugunung, Surabaya, Jawa Timur              Hijau Balai Standarisasi & Pelayanan Jasa Industri Surabaya, Kementrian
        Elektric Resistence                                                       Perindustrian.
        Welding Non                                                               Green Industry Certification issued by the Green Industry Certification
        Otomotif                                                                  Institute, Surabaya Industrial Standardization & Service Center, Ministry
        Green Industry -                                                          of Industry.
        Non-Automotive
        Electric Resistance
        Welding Steel Pipe
        Industry



  Mekanisme Pengaduan Masalah Lingkungan | Environment-Related Complaint Mechanism

  Masyarakat secara formal dapat melaporkan dan melakukan pengaduan                  The public can formally report and submit complaints or grievances regarding
  ataupun keluhan terkait operasional Perusahaan dengan penyampaian                  the Company's operations by direct submission to the relevant Operational
  langsung kepada Kantor Operasional terkait atau kepada Kantor Pusat. Alamat        Office or Head Office. The address of the head office can be seen on page 37,
  kantor pusat dapat dilihat pada halaman 37, Bab III Laporan Tahunan ini.           Chapter 3 of this Annual Report.




           Tata Kelola Perusahaan             Tanggung Jawab Sosial Perusahaan               Referensi                       Laporan Keuangan               233
           Corporate Governance                 Corporate Social Responsibility             References                      Financial Statements              6
Page 242
                                                                                                                                    2024 Annual Report




Laporan Pencapaian Obligasi Terkait Keberlanjutan | Sustainability-Linked Bond Achievement Report

 Selama periode Januari hingga Desember 2024, Perseroan telah                              During the period from January to December 2024, the Company has
 menetapkan target terkait IKU yang dipilih. Perseroan meyakini                            set targets related to the selected KPIs. The Company believes that
 bahwa target tersebut menunjukkan komitmen kami untuk                                     these targets demonstrate our commitment to contributing to the
 berkontribusi pada peningkatan bauran energi terbarukan.                                  improvement of the renewable energy mix.


 Tujuan Target Kinerja Keberlanjutan:                                                      Objectives of Sustainability Performance Targets:
 Ÿ     Penghematan Energi: Mencapai pengurangan konsumsi energi                            Ÿ   Energy Savings: Achieving a reduction in energy consumption
       dalam operasi perusahaan melalui penerapan teknologi hemat                              across the company’s operations by implementing energy-
       energi, penggunaan energi terbarukan, dan peningkatan efisiensi                          efficient technologies, utilizing renewable energy sources, and
       di setiap lini operasional.                                                             improving efficiency in every operational aspect.
 Ÿ     Pengurangan Emisi Karbon: Dengan penghematan energi,                                Ÿ   Carbon Emission Reduction: By saving energy, the company aims
       perusahaan bertujuan untuk mengurangi emisi gas rumah kaca                              to reduce greenhouse gas emissions produced from fossil fuel-
       yang dihasilkan dari penggunaan energi fosil, mendukung                                 based energy, supporting environmental sustainability.
       keberlanjutan lingkungan.                                                           Ÿ   Operational Efficiency Improvement: Achieving higher output
 Ÿ     Peningkatan Efisiensi Operasional: Mencapai output yang lebih                            with more efficient energy use, leading to reduced operational
       tinggi dengan penggunaan energi yang lebih efisien, sehingga biaya                       costs and increased competitiveness.
       operasional dapat ditekan, dan daya saing perusahaan meningkat.


 Indikator Kinerja Utama (KPI):                                                            Key Performance Indicators (KPI):
 Ÿ     Pengurangan Konsumsi Energi: Mengukur persentase                                    Ÿ   Energy Consumption Reduction: Measuring the percentage
       pengurangan penggunaan energi dibandingkan dengan periode                               reduction in energy usage compared to previous periods or
       sebelumnya atau standar industri.                                                       industry standards.
 Ÿ     Efisiensi Energi: Rasio antara output produksi dan jumlah energi                     Ÿ   Energy Efficiency: The ratio between production output and the
       yang digunakan, untuk memastikan bahwa proses produksi                                  amount of energy used, ensuring that the production process
       menjadi lebih efisien.                                                                   becomes more efficient.
 Ÿ     Implementasi Teknologi Hijau: Penerapan teknologi ramah                             Ÿ   Green Technology Implementation: Adopting environmentally
       lingkungan dan energi terbarukan dalam operasional perusahaan                           friendly technologies and renewable energy solutions in company
       sebagai bagian dari komitmen terhadap keberlanjutan.                                    operations as part of a commitment to sustainability.
 Ÿ     Pengurangan Emisi Karbon: Mengukur seberapa banyak emisi                            Ÿ   Carbon Emission Reduction: Measuring the amount of carbon
       karbon yang berhasil dikurangi melalui penghematan energi.                              emissions successfully reduced through energy savings.




                                                                Data Peningkatan Kapasitas Sel Surya yang Direncanakan 2023 – 2024:
                                                                        Planned Solar Cell Capacity Increase Data 2023 – 2024:
      Dasar Penetapan
      Indikator Kinerja                                                                                                               Pengurangan Emisi Karbon
                                  Tahun | Year         Kapasitas | Capacities     Persentase Peningkatan | Percentage Increase
      Utama (IKU) dan                                                                                                            Carbon Emission Reduction (kgCO2eq)

      Target Kinerja                                      682,5 kWp
                                      2024                                                             -                                       855.036
      Keberlanjutan (TKK)
                                      2023                  650 kWp                                  5%                                        814.320
      Basis for Determining
      Key Performance                *Peningkatan 5% dari 650 kWp, yang tetap konstan | 5% increase from 650 kWp, which remains constant
      Indicators (KPI) and           Catatan | Note:
      Sustainability                 Ÿ   1 kWp menghasilkan 4 kWh Listrik setiap hari | 1 kWp produce 4 kWh Electricity daily
      Performance Targets            Ÿ   Faktor emisi sebesar 0,87 kg CO2eq sesuai dengan Faktor Emisi GRK Sistem Ketenagalistrikan 2019 dari Kementerian
      (SPT)                              Energi dan Sumber Daya Mineral | The emission factor of 0.87 kg CO2eq is in accordance with the 2019 Electricity System
                                         GHG Emission Factor of the Ministry of Energy and Mineral Resources



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  Pencapaian Output: Melalui pencapaian target penghematan energi,                         Achievement of Output: Through the achievement of energy-saving
  perusahaan dapat meningkatkan daya saingnya di pasar global yang                         targets, the company can enhance its competitiveness in a global
  semakin mengedepankan tanggung jawab sosial dan lingkungan.                              market that increasingly emphasizes social and environmental
  Selain itu, pencapaian ini juga mendukung kepatuhan terhadap                             responsibility. Additionally, this achievement supports compliance
  regulasi yang semakin ketat terkait dengan emisi karbon dan                              with stricter regulations related to carbon emissions and
  keberlanjutan.                                                                           sustainability.


  Dengan fokus pada indikator kinerja utama dalam penghematan                              By focusing on key performance indicators related to energy savings,
  energi, perusahaan tidak hanya berkontribusi pada pelestarian                            the company not only contributes to environmental preservation but
  lingkungan tetapi juga menciptakan nilai jangka panjang melalui                          also creates long-term value through operational efficiency and
  efisiensi operasional dan pengelolaan sumber daya yang lebih bijak.                       responsible resource management.




                     Ringkasan Pencapaian Indikator Kinerja Utama | KPI (Key Performance Indicators) Achievement Summary

                 Target 2024 | 2024 Target                          Pencapaian 2024 | 2024 Achievement                Peningkatan                     Tindakan
                                                                                                                       Kapasitas                       Action
  Kapasitas | Capacities       Perkiraan Pengurangan        Kapasitas | Capacities      Perkiraan Pengurangan          Increase                            Taken
         (kWp)             Emisi Karbon | Estimate Carbon           (kWp)            Emisi Karbon | Estimate Carbon    Capacities
                           Emission Reduction (kg CO₂eq)                             Emission Reduction (kg CO₂eq)


         682,5                       855.036                       1.994,0                 2.498.183,42                 206,8       Ÿ    Penambahan kapasitas solar cell
                                                                                                                                         Unit 6 dari 340 kWp menjadi 650
                                                                                                                                         kWp per Oktober 2024
                                                                                                                                    Ÿ    Pemasangan solar cell di Unit 5
                                                                                                                                         dengan kapasitas 1.030 kWp per
                                                                                                                                         Juli 2024.
                                                                                                                                    Ÿ    Pemasangan solar cell di Unit 1, 2,
                                                                                                                                         3 masih dalam tahap pengerjaan.


                                                                                                                                    Ÿ    Addition of solar cell capacity Unit 6
                                                                                                                                         from 340 kWp to 650 kWp as of
                                                                                                                                         October 2024.
                                                                                                                                    Ÿ    Installation of solar cells in unit 5
                                                                                                                                        with a capacity of 1.030 kWp as of
                                                                                                                                        July 2024.
                                                                                                                                    Ÿ   The installation of solar cells in units
                                                                                                                                        1, 2, 3 is still ongoing.




            Tata Kelola Perusahaan             Tanggung Jawab Sosial Perusahaan                   Referensi                          Laporan Keuangan                     235
            Corporate Governance                 Corporate Social Responsibility                 References                         Financial Statements                    6
Page 244
                                                                                                                 2024 Annual Report



 Tanggung Jawab Sosial Perusahaan
 Terkait Ketenagakerjaan dan K3
 Corporate Social Responsibility Related to Employment and OHS


 Bagi Perseroan, Sumber Daya Manusia (SDM) merupakan asset yang          For the Company, Human Resources is the most important assets.
 sangat penting. Keberlangsungan operasional dan juga                    Operational continuity as well as the Companys’ will very much
 keberlangsungan perusahaan akan sangat bergantung kepada SDM            depend on excellent HR. As explained in the previous chapter that the
 yang baik. Sebagaimana telah dijelaskan dalam bab sebelumnya            Company facilitates its employees with a number of training courses
 bahwa Perseroan memfasilitasi karyawannya dengan sejumlah               for personal development and remuneration, the Company will
 pelatihan untuk pengembangan diri serta remunerasi, maka                render Occupational Safety and Health as key elements in its
 Perseroan juga menjadikan Kesehatan dan Keselamatan Kerja               operations. In light of this, the Company has prepared a number of
 Karyawannya sebagai hal yang utama. Terkait hal tersebut,               strategic steps through the Implementation of Occupational Safety
 Perseroan membuat sejumlah langkah strategis melalui penerapan          and Health Management System based on the Regulation of Minister
 Sistem Manajemen Keselamatan dan Kesehatan Kerja (SMK3) yang            of Manpower No.5 of 1996 concerning Occupational Safety and
 dilandasi pada Peraturan Menteri Tenaga Kerja nomor 5 Tahun 1996        Health Management System. The regulation was then refined
 tentang Sistem Manajemen Keselamatan dan Kesehatan Kerja.               through Government Regulation No.50 of 2012 concerning
 Peraturan tersebut kemudian telah disempurnakan melalui Peraturan       Occupational Safety and Health Management System. In addition,
 Pemerintah nomor 50 Tahun 2012 tentang Sistem Manajemen                 the Company has also implemented the International Standard on
 Keselamatan dan Kesehatan Kerja (SMK3). Selain SMK3 Perseroan           Occupational Safety and Health based on ISO 45001.
 juga, menerapkan standar internasional dalam keselamatan dan
 kesehatan kerja berlandaskan ISO 45001.


 Melalui SMK3 atau ISO 45001, Perseroan melakukan upaya                  Through Occupational Safety and Health Management System or ISO
 identifikasi bahaya dan penilaian resiko dalam setiap aktivitas proses   45001, the Company conducted risk identification and assessment of
 kerja, serta upaya pengendalian risiko termasuk pencegahan              every work process along with risk control activity in which includes
 kecelakaan kerja dan penyakit akibat kerja. Sistem manajemen ini        work incident and work-related diseases. The management system is
 diharapkan membantu terciptanya tempat kerja yang aman, sehat           expected to boost the creation of a safe and healthy workplace as well
 serta lingkungan kerja yang efisien dan produktif berwawasan             as an efficient and productive and an environmentally friendly work
 lingkungan.                                                             environment.


 Dalam rangka menciptakan suasana kerja yang kondusif, Perseroan         In order to create a conducive work atmosphere, the Company openly
 secara terbuka menerima pengaduan karyawan atas keluhan-                accepts report from employees over grievances they experience,
 keluhan yang mereka hadapi, baik dalam lingkup pekerjaan maupun         either within the scope of occupational or personal aspect. The
 personal. Pengaduan karyawan diterima dan dievaluasi oleh               complaints were received and evaluated by the HR Department after
 Departemen SDM. Departemen SDM meneruskan pengaduan                     which they pass on these reports to the work units responsible for the
 karyawan kepada unit-unit yang bertanggung jawab atas pokok             core issues to allow the employee to communicate directly without an
 permasalahan sehingga karyawan dapat berkomunikasi langsung             intermediary.
 tanpa perantara.


 Perseroan juga mendukung pemenuhan hak berserikat karyawan              The Company also supports employees’ rights to unionized as part of
 sebagai bagian upaya membangun hubungan industrial yang solid.          its effort to build a solid industrial relation. SPINDO Labor Union
 Serikat Pekerja di SPINDO melakukan pertemuan Bipartit secara           conducted routine bipartite meetings of at least once every three
 rutin, minimal tiga bulan sekali khususnya di lokasi operasional        months mainly in the Company’s operational sites. It is a meeting
 Perusahaan. Pertemuan bipartit juga menjadi forum untuk                 forum that aims to anticipate potential issues that may arise in the
 mengantisipasi masalah berpotensi muncul di tempat kerja dan            workplace and to work on the solutions by deliberation and




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  penyelesaian masalah secara musyawarah dan mufakat. Komunikasi        consensus. Routine communication sessions are also carried out
  tersebut juga rutin dilakukan dengan setiap Serikat Pekerja di        with every Labor Union of respective operational sites as well as
  masing-masing lokasi operasional termasuk Serikat Pekerja Seluruh     with All Indonesian Workers Union of SPINDO.
  Indonesia (SPSI) SPINDO.




  Mekanisme Pengaduan Masalah Ketenagakerjaan |
  Labor Issue Complaint Mechanism

  Dalam melaksanakan tugas dan tanggung jawabnya, karyawan akan         In performing its duties and responsibilities, employees are protected
  dilindungi dengan berbagai program dan prosedur kerja yang            with various work programs and procedures to maximize protection
  memaksimalkan perlindungan, guna menciptakan keselamatan dan          in order to create safety and health at work. The protection of
  kesehatan dalam bekerja. Mengenai hal terserbut maka seluruh          employees’ interests is actualized by registering it at the Ministry of
  karyawan terlindungi kepentingannya yang terdaftar dalam              Manpower in which case the Directorate General for Industrial
  Kementeriaan Ketenagakerjaan RI cq Direktorat Jenderal Pembinaan      Relations and Social Security No. 93AJ8012 dated August 31, 2004.
  Hubungan Industrial dan Jaminan Sosial Tenaga Kerja No. 93AJ8012
  tanggal 31 Agustus 2004.


  Untuk memastikan bahwa SPINDO telah mengimplementasikan               To ensure that SPINDO has properly implemented Human Resources
  sistem pengelolaan SDM yang baik, Perseroan secara terbuka            Management System, the Company openly accepts report from an
  menerima pengaduan karyawan atas keluhan-keluhan yang mereka          employee over grievances they experience, either within the scope of
  hadapi, baik dalam lingkup pekerjaan maupun personal. Pengaduan       occupational or personal aspect. The complaints were received and
  karyawan diterima dan dievaluasi oleh Departemen SDM.                 evaluated by the HR Department after which they pass on these
  Departemen SDM meneruskan pengaduan karyawan kepada unit-             reports to the work units responsible for the core issues to allow the
  unit yang bertanggung jawab atas pokok permasalahan sehingga          employee to communicate directly without intermediary.
  karyawan dapat berkomunikasi langsung tanpa perantara.




                                                                            Apabila keluhan belum
                                                                               dapat diselesaikan
                                                                           maka upaya penyelesaian
     Keluhan diterima                       Departemen SDM
                                                                                dilakukan sesuai                                   Keluhan
       Departemen                         meneruskan keluhan
                                                                            dengan ketentuan yang                                   selesai
          SDM                                  ke Unit Kerja
                                                                                     berlaku                                      Complaints
    The HR Department                      Department submits
                                                                                 In the event of                                   resolved
       has received                       the complaint reports
                                                                           unresolvable complaints,
        complaints.                          to the Work Unit
                                                                            efforts of settlement are
                                                                              conducted according
                                                                          to the applicable provisions




         Tata Kelola Perusahaan     Tanggung Jawab Sosial Perusahaan          Referensi                     Laporan Keuangan                   237
         Corporate Governance         Corporate Social Responsibility        References                    Financial Statements                  6
Page 246
                                                                                                                   2024 Annual Report




 Komitmen Tanggung Jawab Sosial Perusahaan Terkait Ketenagakerjaan dan K3 |
 Corporate Social Responsibility Commitment Related to Employment and OHS

 Implementasi Inisiatif Ketenagakerjaan dan K3 Kegiatan/program          Implementation of Employment and OHS Initiatives
 yang dilakukan Perseroan dalam rangka menciptakan rasa aman dan         Activities/programs carried out by the Company in order to create a
 nyaman dalam bekerja adalah sebagai berikut:                            sense of security and comfort at work are as follows:




 1. Kesetaraan Gender & Kesempatan Kerja
    Gender Equality & Employment Opportunity
 Bidang usaha SPINDO menyebabkan minimnya jumlah perempuan               The business sector of SPINDO contributes to the low proportion of
 bekerja di Perusahaan khususnya di lokasi proses produksi yang          women employed by the company, particularly in areas where heavy
 melibatkan alat berat. Perusahaan senantiasa membuka kesempatan         equipment is used in production. The Company consistently provides
 bagi perempuan untuk berkiprah di dalam operasional Perseroan.          avenues for women to participate in its activities.


 Rekapitulasi Data Sumber Daya Manusia per 31 Desember 2024
 Human Resources Data Summary per 31 December 2024

      Komposisi karyawan berdasarkan jenis kelamin
      Employee category by gender
                                                                       2022                           2023                         2024


      Pria
      Male
                                                                       875                        867                          845
                                                                       85%                            85%                           85%


      Wanita
      Female
                                                                       155                       153                           149
                                                                       15%                            15%                          15%


      Komposisi karyawan berdasarkan kategori usia
      Employee category by age
                                                                       2022                           2023                         2024


      <26 tahun
      <26 year old
                                                                       63                            64                           59
                                                                        6%                                6%                         6%


      26 - 35 tahun
      26 - 35 year old
                                                                       273                        277                          262
                                                                       27%                            27%                           26%


      36 - 45 tahun
      36 - 45 year old
                                                                       364                        353                           356
                                                                       35%                            35%                           36%



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Laporan Tahunan 2024




                                                                             2022                        2023                              2024



     46 - 50 tahun | 46 - 50 year old
                                                                            183                      166                                   159
                                                                             18%                         16%                               17%



                                                                            121                      135                               135
    51 - 55 tahun | 51 - 55 year old
                                                                             12%                         13%                               13%




     >56 tahun | >56 year old
                                                                            26                          25                                 22
                                                                             2%                           2%                                2%

  Perseroan memiliki SDM yang berasal dari berbagai latar belakang.            Human resources within the company come from a variety of
  Karenanya Perseroan menerapkan prinsip non-diskriminasi yang                 backgrounds. As a result, the company's HR management adheres to
  ketat dan konsisten dalam pengelolaan SDM. Kesempatan yang                   stringent and uniform non-discrimination rules. According to the
  sama dan setara diberikan kepada setiap karyawan sesuai status               Company Regulations, every employee is granted equal opportunity
  kepegawaian-nya untuk berkarya tanpa membedakan suku, ras,                   to work in any sector regardless of their race, ethnicity, skin color,
  warna kulit, agama, gender, usia, status perkawinan di setiap bidang         religion, gender, age, or marital status. Professional considerations
  sebagaimana yang tertuang dalam Peraturan Perusahaan. Proses                 are taken into account during the hiring process, such as: Using paper
  perekrutan dilakukan melalui pertimbangan dengan konteks                     screening to see whether a candidate's professional skills are a good
  professional antara lain: Kesesuaian kemampuan professional                  fit for the job; using psychological testing and user interviews to
  dengan pekerjaan melalui paper screening, Penilaian kemampuan                evaluate technical skills and character.
  teknis dan karakter melalui psikotes serta user interview.



  2. Remunerasi dan Kesejahteraan Karyawan
     Remuneration and Employee Welfare
  Perseroan senantiasa berupaya untuk memenuhi hak-hak karyawan                The Company seeks to meet the rights of employees as regulated by
  seperti yang diatur dalam Undang-Undang No.13 tahun 2003                     Law No.13 of 2003 concerning Manpower (Labor Law). All
  tentang Ketenagakerjaan. Seluruh karyawan Perseroan diberikan                employees receive remuneration and benefits policies based on the
  kebijakan remunerasi dan benefit, disesuaikan dengan ketentuan                Provincial Minimum Wage provisions. The Company also applies
  Upah Minimum Provinsi (UMP). Perseroan juga menerapkan                       performance-based remuneration policies.
  remunerasi berbasis kinerja.


  Kesejahteraan Karyawan                                                       Employee Welfare
  Kesejahteraan karyawan menjadi salah satu perhatian utama                    The welfare of employee is one of the main attentions of the Company
  Perseroan agar karyawan dapat merasa aman dan nyaman dalam                   to make employee feels safe and comfortable at work and to be able
  bekerja, sehingga dapat bekerja dengan motivasi yang lebih baik.             to work with better motivation. In the end, it is expected that it will
  Pada akhirnya hal tersebut diharapkan akan berkontribusi pada                contribute to the increase of work achievements and productivity. In
  peningkatkan prestasi dan produktivitas kerja. Terkait hal tersebut,         relation to this, the Company always strives to meet the
  Perseroan selalu berusaha memenuhi ketentuan-ketentuan                       Government’s provisions concerning employee welfare such as basic
  Pemerintah yang berhubungan dengan kesejahteraan karyawan                    salary rate that is in line with the current inflation rate and meets the
  berupa penyesuaian besarnya gaji yang sejalan dengan laju inflasi             Regency /Municipality Minimum Wage standard according to the




          Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan             Referensi                       Laporan Keuangan             239
          Corporate Governance            Corporate Social Responsibility           References                      Financial Statements            6
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                                                                                                                               2024 Annual Report




 serta memenuhi standar Upah Minimum Kabupaten/Kota (UMK)                          provision of the Ministry of Manpower. Additionally, the Company
 sesuai dengan ketentuan Kementerian Ketenagakerjaan. Disamping                    offers its employees a range of facilities and other benefits, including:
 itu, Perseroan juga menyediakan berbagai fasilitas dan tunjangan                  Ÿ     Health Allowance, facilitated based functional level
 lain, seperti:                                                                    Ÿ     and service period of each employee
 Ÿ     Tunjangan kesehatan, diberikan berdasarkan level dan lama                   Ÿ     Pension Allowance, facilitated to employees who have been
       bekerja dari masing-masing karyawan.                                              working for 25 years or more and have reached 5 pension ages
 Ÿ     Tunjangan pensiun, diberikan kepada karyawan yang telah                           (55 years old)
       bekerja selama 25 tahun atau lebih dan telah mencapai 5 usia                Ÿ     Allowances for Food and Transportation
       pensiun (55 tahun).                                                         Ÿ     Communication device allowance, for certain divisions.
 Ÿ     Tunjangan uang makan dan uang transport.                                    Ÿ     12 (Twelve) days Annual Leave entitlement.
 Ÿ     Tunjangan alat komunikasi, untuk divisi tertentu.                           Ÿ     Three-month maternity leave entitlement.
 Ÿ     Tunjangan cuti selama 12 (dua belas) hari kerja.                            Ÿ     Leave facility for special events such as death, son’s circumcision,
 Ÿ     Tunjangan cuti selama 3 (tiga) bulan untuk karyawati yang                         child’s baptism, school graduation, birth etc as regulated in the
       melahirkan.                                                                       Collaborative Labor Agreements (PKB).
 Ÿ     Tunjangan cuti untuk kejadian khusus seperti kematian, sunatan,
       pembaptisan, wisuda, kelahiran, dan lain sebagainya untuk
       karyawan, yang diatur dalam Perjanjian Kerja Bersama (PKB).


 Selain fasilitas dan tunjangan yang telah disebutkan di atas,                     The Company further ensures the registration of all employees with
 Perseroan juga mendaftarkan seluruh karyawan pada BPJS                            Social Security Agency on Health or BPJS, BPJS Employment
 Ketenagakerjaan (d/h Jamsostek) serta BPJS Kesehatan, guna                        (previously known as Jamsostek) and BPJS Health, in addition to the
 mengantisipasi kejadian tak terduga yang dialami karyawan pada                    aforementioned facilities and benefits, to prepare for any unforeseen
 saat melaksanakan pekerjaannya.                                                   circumstances that employees may encounter while performing their
                                                                                   duties.




     Manajer ke atas                       Manager and above                           Staf dan Non-Staf                  Staff and Non staff
     Gaji Pokok                            Basic Salary                                Gaji Pokok                         Basic Salary
     Tunjangan Jabatan                     Functional Allowance                        Tunjangan Jabatan                  Functional Allowance
     Tunjangan Hari Raya (THR)             Religious Festivity Allowance               Tunjangan Hari Raya (THR)          Religious Festivity Allowance
     Bonus                                 Bonus                                       Bonus                              Bonus
     Tunjangan Kesehatan                   Healthcare Allowance                        BPJS Kesehatan                     Healthcare Security - BPJS
     BPJS Kesehatan                        Healthcare Security - BPJS                                                     Kesehatan
                                           Kesehatan                                   BPJS Ketenagakerjaan               Manpower Security - BPJS
     BPJS Ketenagakerjaan                  Manpower Security - BPJS                                                       Ketenagakerjaan
                                           Ketenagakerjaan                             Tunjangan Transportasi             Transport Allowance
     Tunjangan Transportasi                Transport Allowance                         Tunjangan Perjalanan Dinas         Travel Allowance
     Tunjangan Perjalanan Dinas            Travel Allowance                            Program Pensiun                    Retirement Fund
     Car Loan                              Car Loan                                    Fasilitas Koperasi                 Saving & Loan Facility
     Program Pensiun                       Retirement Fund                             Bantuan Sosial                     Social Assistance
     Fasilitas Koperasi                    Saving & Loan Facility
     Bantuan Sosial                        Social Assistance




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  3. Pengembangan Kompetensi
     Competency Development

  Untuk mencapai tujuan, organisasi membutuhkan sumber daya                  In an effort to achieve the Company's goals, our organization needs
  manusia yang kompeten di bidangnya masing-masing. Salah satu               competent human resources in their respective fields. We have taken
  upaya yang dilakukan untuk meningkatkan pengetahuan dan                    a number of measures to improve employees' knowledge and abilities
  kemampuan karyawan dalam menjalankan tugasnya adalah melalui               to carry out their duties, and one of which is through competency
  pengembangan kompetensi. Pengembangan kompetensi bagi                      development. This is aimed at developing employees' knowledge and
  karyawan Perseroan merupakan upaya dalam pengembangan                      skills as well as fostering their work attitude and behavior as they
  pengetahuan, keterampilan, dan/atau sikap perilaku kerja dalam             perform their tasks in order that the Company will be able to draw on
  melaksanakan tugas jabatannya guna mewujudkan sumber daya                  competent human resources in accordance with organizational
  manusia yang kompeten sesuai dengan kebutuhan organisasi.                  needs.


  Pengembangan kompetensi karyawan dilaksanakan dalam bentuk                 The employee competency development takes the form of trainings,
  pelatihan, seminar, workshop / lokakarya dan sosialisasi. Sementara        seminars, workshops, and outreach programs. In addition to the
  pembelajaran dilakukan melalui dua jalur, yaitu pembelajaran klasikal      activities, learning sessions are organized in the form of both
  dan pembelajaran nonklasikal. Pengembangan kompetensi klasikal             classroom and non-classroom instructions.
  dapat berupa kegiatan seperti :                                            Classroom competence development programs may include the
  1.   Pelatihan kepemimpinan, manajerial dan teknis                         following:
  2.   Kegiatan sejenis seminar / konferensi / sarasehan, workshop atau      1. Leadership, managerial, and technical trainings;
       lokakarya;                                                            2. Seminar / conference / workshop-based events;
  3.   Kegiatan terfokus lain semisal bimbingan teknis dan sosialisasi.      3. Focused activities such as technical assistance and outreach
  4.   Jalur Pengembangan Kompetensi dalam bentuk pelatihan                      programs;
       klasikal lainnya.                                                     4. Competency Development Pathway in the form of other
                                                                                 classroom trainings.


  Sedangkan pengembangan kompetensi non klasikal dapat berupa                Non-classroom competency development programs may include the
  kegiatan seperti :                                                         following:
  1.   Coaching, mentoring, self study, dan on the job training;             1. Coaching, mentoring, self-study, and on-the-job trainings
  2.   Pelatihan jarak jauh;                                                 2. Distance trainings
  3.   Pembelajaran berupa kegiatan patok banding (benchmarking);            3. Benchmarking activity-based learning
  4.   Kegiatan belajar lain seperti belajar mandiri , komunitas belajar ,   4. Independent study, learning community, workplace guidance,
       bimbingan di tempat kerja dan magang / praktik kerja;                    and internship / practical work;
  5.   Jalur pengembangan kompetensi dalam bentuk pelatihan non              5. Competency development pathway in the form of other non-
       klasikal lainnya.                                                        classroom trainings.


  Identifikasi kebutuhan pelatihan karyawan dapat dilakukan sesuai            The Company identifies employee training needs by referring to
  dengan Kebutuhan Minimal Jabatan dan Hasil Asesmen Kompetensi              Minimum Position Requirements and position-based Competency
  sesuai jabatan. Standar Kompetensi yang digunakan Perseroan                Assessment Results. Competency standards that the Company
  bersumber dari SKKNI (Standar Kompetensi Kerja nasional                    adopts are derived from the Indonesian National Work Competency
  Indonesia) dan SKKK (Standar Kompetensi Kerja Khusus).                     Standards (SKKNI) and Specific Work Competency Standards
                                                                             (SKKK).




           Tata Kelola Perusahaan        Tanggung Jawab Sosial Perusahaan          Referensi                        Laporan Keuangan         241
           Corporate Governance            Corporate Social Responsibility        References                       Financial Statements        6
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                                                                                                                 2024 Annual Report




 Selanjutnya dalam pelaksanaan pengembangan kompetensi,               Furthermore, employees taking part in competency development-
 karyawan yang akan mengikuti pelatihan mengikuti Prosedur            related programs need to follow the applicable training procedures.
 Pelatihan yang berlaku.


 Mengingat adanya keterbatasan jam kerja dan tidak semua pegawai      Given the fact that working hours are limited and that it is unlikely that
 berkesempatan mengikuti semua pelatihan yang ada dalam satu          employees attend available trainings at once, the competency
 waktu maka pengembangan kompetensi dilakukan melalui sharing         development is also made possible through sharing sessions. These
 session. Kegiatan sharing session dilakukan dengan menugaskan        activities are conducted by assigning employees who have
 karyawan yang telah selesai mengikuti pelatihan baik itu klasikal    completed both classroom (external) and non-classroom training
 (eksternal) untuk menyampaikan kembali ilmu yang didapatkan          sessions to share knowledge and skills they gained during the
 selama pelatihan kepada karyawan lain.                               sessions with their peers.


 Dengan banyaknya pilihan pelatihan yang dapat diikuti oleh           Employees have many different training options to take in order to
 karyawan untuk meningkatkan kompetensi diharapkan para               increase their competence. It is thus expected that employees actively
 karyawan dapat berpartisipasi aktif dengan atasan langsungnya        coordinate their competency development programs with their
 terkait perencanaan pengembangan kompetensinya. Kemudian,            immediate superior. Then, direct supervisor can also play a role in
 atasan langsung turut dapat berperan dalam memberikan bimbingan      providing guidance to subordinates participating in the competency
 (menjadi mentor/coach) kepada bawahan yang telah mengikuti           development, for example, by becoming a mentor or coach. In turn,
 pengembangan kompetensi, agar hasil pembelajaran yang telah          employees have the ability and opportunity to apply the outcomes of
 diperoleh dapat diterapkan dalam pelaksanaan tugas dan fungsi        learning as they perform their respective duties and functions.
 masing-masing sesuai jabatannya.




Jam dan Biaya Pengembangan Kompetensi Karyawan |
Employee Competency Development Hours and Costs

       Tahun                                                 Biaya [Rp]                                            Jumlah [Jam]
        Year                                                 Costs [IDR]                                           Total [Hours]

        2024                                                 870.869.100                                                   6734

        2023                                                  378.725.192                                                  8795

        2022                                                  171.349.000                                                   277




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  Kesehatan dan Keselamatan Kerja (K3) menjadi prioritas dalam              Occupational Safety and Health (OSH) is a priority in SPINDO
  operasional SPINDO khususnya dilokasi proses produksi (pabrik).           operations particularly in production sites (plants). For the operations
  Untuk operasional, bagian K3 berada dibawah tanggungjawab Divisi          process, the OSH aspect is under the responsibility of Health, Safety,
  Health, Safety, and Environment/HSE.                                      and Environment/HSE Division.


  1.   Menyediakan Sarana Keselamatan Kerja                                 1. Provide Occupational Safety Facilities
       Dalam upaya memberikan kenyamanan dan keselamatan                        To facilitate comfort and safety at work and to endorse the OHS
       bekerja, serta mendukung program K3 sesuai dengan regulasi               programs according to the rules and regulations, the Company
       dan aturan, Perseroan menyediakan kebutuhan atau sarana                  accommodates the needs or facilities of occupational safety, such
       keselamatan kerja, seperti Alat Pelindung Diri (APD) atau                as Personal Protective Equipment and other aid facilities or tools
       Personal Protective Equipment (PPE) serta sarana atau alat               according to the work area and risk level. PPE is provided to
       bantu lainnya sesuai dengan wilayah kerja dan tingkat risiko             technical worker/work executor based on the needs in the field,
       bekerja. APD disediakan untuk tenaga kerja teknik/pelaksana              among others:
       pekerjaan sesuai dengan kebutuhan di lapangan, antara lain:              1)    Personal Protective Equipment – PPE
       1)   Wearpack                                                            2)    Helmet
       2)    Helm                                                               3)    Safety Goggles
       3)   Pelindung Mata                                                      4)    Safety shoes
       4)   Sepatu safety                                                       5)    Ear plug/Earmuff
       5)   Penutup telinga                                                     6)    Paper Face Mask
       6)   Masker kertas                                                       7)    Gloves
       7)   Sarung tangan                                                       8)    Long leather gloves
       8)   Sarung tangan kulit panjang                                         9)    Long latex gloves
       9)   Sarung tangan karet panjang                                         10) Chemical respirator
       10) Chemical respirator                                                  11) Safety belt
       11) Safety belt                                                          12) Clinic with certified paramedic
       12) Klinik dengan tenaga Paramedis bersertifikat                          13) First Aid Facilities
       13) Fasilitas P3K                                                        14) Medical Check-up for employees in cooperation with
       14) Medical Check Up untuk Karyawan bekerjasama dengan                         Occupational Health and Safety service company
            Perusahaan Jasa Kesehatan dan Keselamatan Kerja                     15) Installation of Earth Leakage Circuit Breaker to anticipate
       15) Pemasangan Earth Leakage Circuit Breaker untuk                             electrical hazards to employees.
            mengantisipasi bahaya kelistrikan terhadap karyawan.


  2.   Sistem Penanggulangan Kebakaran                                      2. Fire Management System
       Sistem penanggulangan kebakaran Perseroan menggunakan                    The Company’s Fire Management System employs active
       sistem proteksi aktif yang tersedia di kantor dan pabrik dengan          protection system available in the office and plant areas with the
       kelengkapan sebagai berikut:                                             following tools:
       1.   Fire Alarm Break Glass                                              1.    Fire Alarm Break Glass
       2.   Fire Alarm Smoke Detector                                           2.    Fire Alarm Smoke Detector
       3.   Alat Pemadam Api Ringan – APAR                                      3.    Fire Extinguisher
       4.   Hydrant System untuk Gedung                                         4.    Building hydrants
       5.   Hydrant System untuk Pabrik dan Halaman                             5.    Factory and Courtyard hydrants
       6.   Siamese Connection                                                  6.    Siamese Connection



            Tata Kelola Perusahaan      Tanggung Jawab Sosial Perusahaan          Referensi                      Laporan Keuangan              243
            Corporate Governance          Corporate Social Responsibility        References                     Financial Statements             6
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                                                                                                                            2024 Annual Report




      7.   Sprinkler                                                               7.    Sprinkler
      8.   Lampu Penerangan Darurat                                                8.    Emergency Lighting
      9.   Petunjuk Jalan Arah Keluar                                              9.    Direction for Exit
      10. Pintu dan Tangga Darurat                                                 10. Emergency Doors and Stairs
      11. Area Assembly Point untuk Evakuasi                                       11. Assembly Point Area for Evacuation


 3.   Menciptakan Lingkungan Bekerja yang Layak dan Aman                      3.   Creating a Safe and Decent Work Environment
      Untuk mencegah terjadinya kecelakaan kerja, Perseroan berupaya untuk         To prevent work accident, the Company seeks to raise safety awareness
      meningkatkan safety awareness di semua tingkatan organisasi. Hal             in all levels of the organization through training a number of times in
      tersebut dilakukan melalui sejumlah pelatihan yang terkait dengan            relation to Occupational Health and Safety.
      Kesehatan dan Keselamatan kerja.




                                         Program K3 | Occupational Health and Safety (OHS) Program

                                                                                                                            Lokasi | Location

                                              Pelatihan                                                                Kantor                    Pabrik
                                               Training                                                                Office                     Plant

 Ahli K3 Umum
                                                                                                                         ü                          ü
 General Occupational Safety and Health Expert
 Pengenalan Potensi bahaya di tempat kerja
                                                                                                                         ü                          ü
 Introduction of potential hazards at workplace
 Pemakaian Alat Pemadam Api Ringan (external dari penyedia dan internal)
                                                                                                                         ü                          ü
 How to use Fire Extinguisher
 Pengenalan Limbah industry
                                                                                                                         ü                          ü
 Introduction of Industrial Wastes
 Simulasi tanggap darurat
                                                                                                                         ü                          ü
 Emergency Response Simulation
 BIMTEK P2K3 ( Disnaker)
                                                                                                                         ü                          ü
 Health and Safety Committee Training (Manpower Agency)
 Pelatihan P3K
                                                                                                                         ü                          ü
 First Aid Training
 Auditor ISO 14001
                                                                                                                         ü                          ü
 Auditor ISO 14001
 Identifikasi Dampak dan Aspek serta penilaian risiko terhadap lingkungan
                                                                                                                         ü                          ü
 Identification of impacts, aspects and assessment of risks to the environment
 Identifikasi bahaya dan Penilaian risiko di tempat kerja
                                                                                                                         ü                          ü
 Hazard Identification and Risk Assessment at Work Place




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  4.   Prosedur Kesiapsiagaan dan Tanggap Darurat                                     4. Emergency Preparedness and ResponseProcedures
       Melalui Prosedur Kesiapsiagaan dan Tanggap Darurat,                                  Through Emergency Preparedness and Response Procedures,
       Perseroan memastikan potensi bahaya atau keadaan darurat                             the Company makes sure the potential hazards or emergencies
       dapat ditangani dengan segera. Prosedur tersebut dilakukan                           can be handled quickly. The procedures flow stage is as follows:
       melalui tahapan sebagai berikut:




                                                                                                                                      Environmental
                                                                                                   Indentifikasi lingkungan,
                                                                                                                                      identification,
                                                                                                keselamatan & kesehatan kerja
                                          MULAI                                                  berkaitan dengan kecelakaan
                                                                                                                                      occupational safety
                                                                                                                                      & health related to
                                                                                                     atau keadaan darurat
                                                                                                                                      accident or emergency

                                           Start                                                                                      Ensure an Emergency
                                                                                                  Menetapkan Tim Tanggap
                                                                                                                                      Response Team &
                                                                                                 Darurat & Prosedur tanggap
                                                                                                                                      Emergency Response
         Penanggulangan Kecelakaan Kerja                                                        darurat untuk kecelakaan atau
                                                                                                                                      Procedures for accidents
                                                                                                  keadaan darurat termasuk
         Perseroan senantiasa mengoptimalisasi dengan memberi                                                                         or emergencies including
                                                                                               investigasi kecelakaan / insiden
                                                                                                                                      accident / incident
         ruang kenyamanan dan keamanan serta selalu mem-                                                                              investigations
         perhatikan keselamatan kerja karyawan perseroan. Melalui                                                                     Ensure prevention
                                                                                                   Menetapkan pencegahan
         Prosedur Kesiapsiagaan dan Tanggap Darurat, Perseroan                                     untuk potensi kecelakaan           for potential accidents
                                                                                                     dan keadaan darurat              and emergencies
         memastikan potensi bahaya atau keadaan darurat dapat
         ditangani sehingga akibat kondisi bahaya dapat dihindari.
         Work Accident Response                                                                    Membuat matrik / jadwal            Create an emergency
         Company continues to optimize to provide comfort and                                      simulasi keadaan darurat           simulation matrix / schedule

         security, and always pay attention to safety of employees
         of the company. Through Emergency Preparedness and
                                                                                                    Menetapkan simulasi               Ensure simulation of
         Response Procedures, the Company ensures potential                                           keadaan darurat                 emergencies (at least
                                                                                                   (minimal 1 tahun sekali)           once a year)
         hazards or emergencies can be handled so that the
         consequences of hazard conditions can be avoided.
                                                                                                    Pelaksanaan simulasi              Implementation of
                                                                                                       keadaan darurat                an emergency simulation
                                                                                              (salah satu dari keadaan darurat)       (one of emergencies)




                                                                                                      Evaluasi Efektifitas?            Efectivity evaluations?

                                                                                                                     Ya | Yes

                                                                                                  Peninjauan ulang prosedur
                                                                                                   tanggap darurat 1 tahun
                                                                                                    sekali dan menyiapkan                            FILE
                                                                              Tidak | No           laporan tanggap darurat

                                                                                           Review the emergency response procedure
                                                                                              at least once a year and prepare the
                                                                                                   emergency response report




           Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan                     Referensi                           Laporan Keuangan                  245
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                                                                                                                 2024 Annual Report




Sertifikasi Kompetensi Personil Kebakaran Kelas A, B, C, D | Fire Personnel Competency Certification Class A, B, C, D
 Sertifikasi Kompetensi Personil Kebakaran Kelas A, B, C, dan D          The Firefighting Personnel Competency Certification for Classes A, B,
 adalah program pelatihan yang dirancang untuk meningkatkan             C, and D is a training program designed to enhance the skills and
 kemampuan dan pengetahuan personil kebakaran dalam mengatasi           knowledge of firefighting personnel in addressing fire risks in various
 risiko kebakaran di berbagai jenis lingkungan kerja. Sertifikasi ini    work environments, particularly in companies with potential fire
 bertujuan untuk memastikan bahwa personil yang terlibat dalam          hazards. This certification aims to ensure that personnel involved in
 penanggulangan kebakaran memiliki kompetensi yang sesuai               fire suppression have the competencies in line with established
 dengan standar yang ditetapkan, serta dapat melaksanakan               standards and can perform their duties effectively and efficiently.
 tugasnya dengan efektif dan efisien.

                             Aktivitas                                                           Waktu Pelaksanaan             Jumlah Peserta
No.
                             Activity                                                           Implementation Time           No. of Participant

 1.   Sertifikasi Peran Kebakaran Kelas D | Class D Firefighting Role              Batch 1 (14 - 16 Mei | May 2024 )                                  23
      Certification                                                               Batch 2 (20 - 22 Mei | May 2024 )                                  23
 2.   Sertifikasi Regu Penanggulangan Kebakaran Kelas C | Class C Firefighting 01 - 05 Juli | July 2024                                               29
      Team Certification
 3.   Sertifikasi Koordinator Unit Penanggulangan Kebakaran Kelas B | Class B     23 - 27 September | September 2024                                  6
      Firefighting Unit Coordinator Certification
 4.   Sertifikasi Ahli K3 Kebakaran Kelas A | Level A Firefighting Safety Expert   Rencana Pelaksanaan 18 - 25 Januari 2025 |                          6
      Certification                                                               Implementation Plan 18 - January 2025


 Dengan sertifikasi ini, Perseroan dapat memastikan bahwa personil       With this certification, the company can ensure that firefighting
 kebakaran memiliki pengetahuan dan keterampilan yang dibutuhkan        personnel possess the necessary knowledge and skills to handle fires
 untuk menangani kebakaran secara profesional, serta dapat              professionally, as well as enhance safety standards and company
 meningkatkan standar keselamatan dan kinerja Perseroan dalam           performance in maintaining a secure working environment.
 menjaga lingkungan kerja yang aman.




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    5. Tingkat Kecelakaan Kerja
       Occupational Accident Rate
    Perseroan secara berkala melakukan pengukuran untuk performa                           The Company regularly conducts an assessment of OSH
    kinerja K3. Dalam melakukan pengukuran tersebut, tingkat                               performance. In this assessment process, the Company classifies the
    kecelakaan kerja dikategorikan sebagai berikut:                                        level of work accidents as follows:
    1.   Near miss / Berpotensi Celaka: Kejadian tak terduga/tak                           1. Near miss / Potential Accident: An unexpected/unplanned event
         terencana yang tidak menimbulkan cidera pada manusia                                  that does not cause injury to people or damage to equipment, but
         ataupun kerusakan pada alat, tetapi berpotensi terhadap                               has the potential to have a more serious impact.
         dampak yang lebih serius.                                                         2. Minor Accident: An accident that causes injury to the worker so
    2.   Kecelakaan Ringan: Kecelakaan yang menyebabkan cedera                                 that the worker is unable to work for less than 48 hours.
         pada pekerja sehingga pekerja tidak mampu bekerja selama                          3. Moderate Accident: An accident that causes injury to the worker
         kurang dari 48 jam.                                                                   so that he is unable to work more than 48 hours and less than 7
    3.   Kecelakaan Sedang: Kecelakaan yang menyebabkan cedera                                 (seven) days.
         pada pekerja sehingga tidak mampu bekerja lebih dari 48 jam                       4. Serious Accident: An accident that causes injury to workers that
         dan kurang dari 7 (tujuh) hari.                                                       causes disability or loss of body function, so that they are unable
    4.   Kecelakaan Berat: Kecelakaan yang menyebabkan cedera pada                             to work for more than 7 (seven) days.
         pekerja yang menyebabkan cacat atau kehilangan fungsi tubuh,                      5. Fatality: An accident resulting in death or the death of the worker.
         sehingga tidak mampu bekerja lebih dari 7 (tujuh) hari.                           6. Property Damage: Accident that results in damage on equipment
    5.   Fatality: Kecelakaan yang berakibat kematian atau pekerja                             or unit but does not involve injury to the worker.
         meninggal dunia.
    6.   Kerusakan Properti: Kecelakaan yang berakibat kerusakan
         peralatan atau unit tetapi tidak disertai cedera pada manusia.


    Berdasarkan penggolongan sebagaimana disebutkan sebelumnya,                            Based on the aforementioned classification, the assessment of OSH
    maka pengukuran kinerja K3 diukur berdasarkan:                                         performance is based on:



                                                                           2024                                2023                                   2022

              Kategori Kecelakaan                             Kantor              Pabrik            Kantor            Pabrik              Kantor             Pabrik
                   Category                                   Office               Plant             Office             Plant               Office              Plant

    Berpotensi Celaka | Potentially Accident                          -               -                   -               -                       -             1

    Ringan | Minor Injury                                             -              53                   -             57                        -            66

    Sedang | Moderate Injury                                          -              14                   -             11                        -            19

    Berat | Major Injury                                              -               7                   -               6                       -             9

    Kematian | Fatality                                               -               -                   -               -                       -              -

    Kerusakan Properti | Property Damage                              -               -                   -               -                       -              -

    Jumlah | Total                                                    -              74                   -             74                        -            95




          Tata Kelola Perusahaan           Tanggung Jawab Sosial Perusahaan                   Referensi                         Laporan Keuangan                 247
          Corporate Governance               Corporate Social Responsibility                 References                        Financial Statements                6
Page 256
                                                                                                                              2024 Annual Report




 6. Tingkat Perpindahan Karyawan
    Employee Turnover Rate
 Sepanjang tahun 2024, sebanyak 73 karyawan berhenti/keluar dari              Throughout 2024, 73 employees left the company due to resignation or other
 Perusahaan dengan sebab natural maupun pengunduran diri. Sesuai dengan       natural causes. Employees are entitled to separation money and/or severance
 UU 13 Ketenagakerjaan dan Peraturan Perseroan yang berlaku, karyawan         pay, length of service, and replacement of rights based on their length of service
 berhak atas uang pisah dan/atau uang pesangon, masa kerja serta              at the company, as per Law 13 of 2020 concerning Manpower and the related
 penggantian hak sesuai dengan masa kerjanya di Perusahaan.                   Company Regulations.


 Tingkat perpindahan karyawan ideal yang ideal untuk perusahaan tidak lebih   A company should aim for an annual employee turnover rate of no more than
 dari 10% per tahun. Sepanjang tahun 2024, tingkat perpindahan karyawan       10%. The company has a 7.% employee turnover rate in 2024.
 Perseroan sebanyak 7%.
                                                                              Resignation and leaving after reaching retirement age are the two most frequent
 Latar belakang keluar karyawan Perseroan yang terbanyak adalah :             reasons why employees leave the company.
 mengundurkan diri dan berhenti setelah mencapai usia pensiun.




                                                        Tingkat Perpindahan Karyawan
                                                                 Turnover Rate
                                                                                                                    Orang | Person

                          Keterangan | Description                                                 2024                   2023                     2022


 Jumlah Karyawan Keluar | Total Employees Left                                                          73                     44                       47

 Jumlah Karyawan di Akhir Tahun | Total Employee by the Year End                                      994                    1020                   1030

 Rasio Perputaran Karyawan | Employee Turnover Ratio                                                   7%                     4%                       4%




                                             Jumlah dan Latar Belakang Karyawan Keluar
                                             Number and Background of Leaving Employees

                                                                                                                              Orang | Person

                          Keterangan | Description                                                                  2024              2023                2022

 Berhenti setelah mencapai usia pensiun | Termination upon reaching retirement age                                     29                 21                 20

 Mengundurkan Diri | Total Employees Left                                                                              35                 11                 15

 Meninggal Dunia | Deceased                                                                                              4                   -                   6

 Lain-Lain (Pensiun Dini) | Others (Early Retirement)                                                                    0                11                     6

 PHK (selesai kontrak / tidak dilanjutkan) | Employment termination (contract expires or is not renewed)                 5                   -                   -

 Jumlah | Total                                                                                                        73                 44                 47




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Laporan Tahunan 2024



  Tanggung Jawab Sosial Perusahaan
  Terkait Pengembangan Sosial dan Kemasyarakatan
  Corporate Social Responsibility Related to Social and Community Development



  Komitmen Tanggung Jawab Sosial Perusahaan Terkait Pengembangan Sosial dan Kemasyarakatan |
  Corporate Social Responsibility Commitment Related to Social and Community Development

  Perseroan menjadikan masyarakat sebagai Pemangku Kepentingan            The Company concluded the community as stakeholders especially
  khususnya yang berada di lokasi sekitar kegiatan operasional            ones in the surrounding operational sites of the Company mainly
  Perusahaan. Hal ini dilakukan karena keberlangsungan usaha              because its business continuity is connected to roles and the
  Perseroan tak terlepas dari peran dan kontribusi masyarakat. Oleh       contributions of the community. Therefore, the Company has the
  karena itu, Perseroan memiliki tanggung jawab untuk melakukan           responsibility to carry out social and community development with
  pengembangan sosial kemasyarakatan dengan tujuan meningkatkan           the aim to increase the economic capability of the community. The
  kemampuan ekonomi masyarakat. Komitmen Perseroan telah                  Company's commitment has been realized through contribution to
  diwujudkan melalui kontribusi kepada komunitas, amal/santunan,          community, donations/charity, sponsorship and infrastructure
  sponsorship dan pembangunan infrastruktur, serta iuran dana             development, as well as social contributions.
  kemasyarakatan.




  Dana CSR per bulan | CSR funds per month                                        2024                      2023                           2022

  Januari | January                                                       Rp 106.939.074              Rp 82.399.440                     Rp 531.000
  Februari | February                                                       Rp 35.428.235                 Rp 647.500                 Rp 33.183.280
  Maret | March                                                             Rp 29.162.900               Rp 3.480.000                  Rp 1.500.000
  April | April                                                           Rp 124.605.460              Rp 88.640.900                  Rp 76.089.150
  Mei | May                                                               Rp 184.319.156              Rp 33.307.595                  Rp 22.674.962
  Juni | June                                                               Rp 29.600.023             Rp 27.373.860                  Rp 91.165.480
  Juli | July                                                               Rp 17.162.900             Rp 95.738.962                   Rp 8.775.680
  Agustus | August                                                          Rp 83.107.974             Rp 11.116.000                  Rp 52.214.450
  September | September                                                     Rp 41.948.105             Rp 17.095.720                   Rp 6.386.379
  Oktober | October                                                         Rp 30.648.390             Rp 26.264.160                  Rp 11.295.804
  November | November                                                       Rp 19.558.736               Rp 6.668.000                  Rp 6.418.779
  Desember | December                                                       Rp 37.238.770                 Rp 500.000                 Rp 10.782.407
  TOTAL                                                                   Rp 393.232.137            Rp 393.232.137                  Rp 328.017.371



  Iuran Dana Kemasyarakatan | Community Contribution                              2024                      2023                           2022

  Iuran rutin yang dilakukan setiap bulan dari dana kantor & pabrik           205.954.800               180.300.000                     76.800.000
  Routine contributions made every month from office & factory funds


  Total dana CSR | CSR Total                                                      2024                      2023                           2022

                                                                              599.186.973               573.532.137                   404.817.371




            Tata Kelola Perusahaan    Tanggung Jawab Sosial Perusahaan          Referensi                     Laporan Keuangan                249
            Corporate Governance        Corporate Social Responsibility        References                    Financial Statements               6
Page 258
                                                                                                                         2024 Annual Report




Pelaksanaan Inisiatif Pengembangan Sosial & Kemasyarakatan |
Implementation of Social & Community Development Initiatives

 1.   Penggunaan Tenaga Kerja Lokal                                          1. Use of Local Workforce
      Setiap pelaksanaan pengembagan sosial dan kemasyarakatan,                 In the implementation of social and societal development, the
      Perseroan senantiasa mengupayakan memilliki peran dan                     Company always seeks to acquire the role and contribution from
      kontribusi dari para pekerja lokal yang direkrut oleh Perseroan.          the local workers recruited by the Company. This program is
      Program ini dinilai memberikan dampak positif guna mendukung              considered will give a positive impact that will render support to
      program Pemerintah dalam mengurangi angka pengangguran.                   the Government’s program to reduce unemployment rate.


 2.   Pemasok Lokal                                                          2. Local Supplier
      SPINDO memiliki banyak lokasi porduksi Perusahaan yang                    SPINDO has numerous production sites spread out in a number of
      tersebar di sejumlah wilayah di Indonesia. Wilayah operasional            regions in Indonesia. SPINDO’s area of operations includes
      SPINDO mencakup Surabaya [Jawa Timur], Cikupa-Tangerang                   Surabaya [East Java], Cikupa-Tangerang, Banteng, Cilegon-
      Banten, Cilegon-Banten, DKI Jakarta, Bandung [Jawa Barat],                Banten, DKI Jakarta, Bandung [West Java], Makassar [South
      Makasar [Sulawesi Selatan] dan Samarinda [Kalimantan Timur].              Sulawesi] and Samarinda [East Kalimantan]. In its operations,
      Dalam operasionalnya, SPINDO selalu mengoptimalkan dan                    SPINDO constantly optimizes and prioritizes local resources in
      mengutamakan pemasok lokal guna mendukung jalannya                        supporting its operations, in particular the existing suppliers in the
      operasi, khususnya pemasok yang memang sudah tersedia di                  operational sites.
      lokasi tempat operasional berlangsung.


                    Jumlah Pemasok Lokal Berdasarkan Lokasi [2024] | Total Local Suppliers based on Location [2024]


 Wilayah Operasional | Area of Operation            Jumlah Pemasok | Total Supplier                          Layanan | Services


 Surabaya, Jawa Timur | Surabaya, East Java                         300        Jasa | Services
 Surabaya, Jawa Timur | Surabaya, East Java                         108        Barang | Goods
 Surabaya, Jawa Timur | Surabaya, East Java                          67        Barang & Jasa | Goods & Services
 Samarinda, Kalimantan Timur | Samarinda, East Kalimantan                8     Barang, Jasa, Barang & Jasa | Goods, Services, Goods & Services
 Makassar, Sulawesi Selatan | Makassar, South Sulawesi               15        Barang, Jasa, Barang & Jasa | Goods, Services, Goods & Services
 Jakarta & Jawa Barat | Jakarta & West Java                          80        Barang, Jasa, Barang & Jasa | Goods, Services, Goods & Services




 3.   Program Pengembangan Masyarakat                                        3. Community Development Program
      Perseroan memberikan kontribusi bagi kegiatan masyarakat yang             The Company contributes to community activities which are
      dilakukan setiap bulannya selama tahun 2024 dalam bentuk:                 carried out every month during 2024 in the form of:
      1. Kontribusi kepada komunitas; Pemberian bantuan kepada                  1. Contribution to Community; Giving donations to the
        komunitas masyarakat / institusi / perangkat desa di sekitar               community or institutions / village apparatus around the
        area operasional.                                                          operational area.
      2. Amal / Santunan; Pemberian bantuan untuk korban bencana                2. Donations / Charity; Providing donations to victims of natural
        alam dan hari raya keagamaan.                                              disasters and religious holidays.
      3. Sponsorship.                                                           3. Grant.
      4. Pembangunan Infrastruktur kepada masyarakat.                           4. Infrastructure Development for the Community.



250                     Ikhtisar Utama               Laporan Manajemen                    Profil Perusahaan               Analisa & Pembahasan Manajemen
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Laporan Tahunan 2024




                                         Program Pengembangan Masyarakat (CSR) tahun 2024 |
                                             Community Development Program (CSR) in 2024

  CSR per bulan                          Kontribusi Kepada Komunitas            Amal / Santunan        Sponsorship          Pembangunan Infrastruktur
  CSRper month                            Contribution to Community            Donations / Charity        Grant             Infrastructure Development

  Januari | January                              Rp 17.162.900                                     -                 -                      Rp 89.776.174
  Februari | February                            Rp 17.162.900                   Rp 10.874.400                       -                       Rp 7.390.935
  Maret | March                                  Rp 17.162.900                   Rp 12.000.000                       -                                     -
  April | April                                  Rp 17.162.900                   Rp 92.517.500                       -                      Rp 14.925.060
  Mei | May                                      Rp 17.162.900                   Rp 45.667.200                       -                     Rp 121.489.056
  Juni | June                                    Rp 17.162.900                   Rp 10.000.000           Rp 700.000                          Rp 1.737.123
  Juli | July                                    Rp 17.162.900                                     -                 -                                     -
  Agustus | August                               Rp 17.162.900                    Rp 8.900.000         Rp 1.841.000                         Rp 55.204.074
  September | September                          Rp 17.162.900                   Rp 18.014.000                       -                       Rp 6.771.205
  Oktober | October                              Rp 17.162.900                    Rp 3.587.046         Rp 5.000.000                          Rp 4.898.444
  November | November                            Rp 17.162.900                      Rp 500.000                       -                       Rp 1.895.836
  Desember | December                            Rp 17.162.900                                     -                 -                      Rp 20.075.870
  TOTAL                                        Rp 205.954.800                  Rp 202.060.146          Rp 7.541.000                        Rp 324.163.777



  Total Dana Program Pengembangan Masyarakat (CSR) tahun 2024 |                                                                            Rp 533.764.923
  Total Community Development Program (CSR) Funds in 2024
  Total Iuran Rutin Dana Kemasyarakatan per bulan | Total Monthly Contribution to Community                                                Rp 205.954.800
                                                                                                                                           Rp 739.719.723
  TOTAL




  Dampak dan Pencapaian | Impact and Achievement

  Kegiatan sosial kemasyarakatan yang dilakukan oleh SPINDO                      Social and Societal activities carried out by SPINDO has generated
  memberikan kontribusi positif bagi masyarakat. Bantuan pendidikan,             positive contribution to the community. Education, religious and
  keagamaan dan kesehatan yang diberikan telah disesuaikan dengan                health aides have been aligned with the important issues occurring in
  isu dan permasalahan penting yang terjadi di sekitar masyarakat.               the community. These social activities were planned and recurring
  Kegiatan-kegiatan sosial tersebut juga merupakan kegiatan sosial               activities because the Company realizes the increase in benefits to
  yang terencana dan berkelanjutan karena Perseroan menyadari                    the community.
  adanya peningkatan manfaat yang dirasakan oleh masyarakat.




                Tata Kelola Perusahaan     Tanggung Jawab Sosial Perusahaan            Referensi                     Laporan Keuangan                251
                Corporate Governance         Corporate Social Responsibility          References                    Financial Statements               6
Page 260
                                                                                                                   2024 Annual Report




Pencanangan CSR Tematik Perdana “SPINDO Peduli” untuk “Improving Quality of Life” |
Introducing SPINDO Cares — Our First Thematic CSR Initiative Dedicated to Improving Quality of Life




 Sebagai komitmen untuk berkontribusi kepada masyarakat dan             As a commitment to contribute to the community and the
 lingkungan, Perseroan meluncurkan program CSR bertajuk "SPINDO         environment, the Company has launched a CSR program titled
 Untuk Air Bersih". Program ini dirancang khusus untuk mendukung        "SPINDO for Clean Water." This program is specifically designed to
 pembangunan sarana infrastruktur air bersih di Desa Petungsinaran,     support the development of clean water infrastructure in
 Kecamatan Bandar, Kabupaten Pacitan.                                   Petungsinaran Village, Bandar District, Pacitan Regency.


 Warga desa Petungsinaran kesulitan dalam memenuhi kebutuhan air        The residents of Petungsinaran Village have struggled to meet their
 bersih. Akses terhadap sumber air bersih yang memadai sangat           clean water needs. Access to adequate clean water sources is crucial
 penting untuk meningkatkan kualitas hidup dan kesehatan                for improving the quality of life and health of the community. The
 masyarakat. Perseroan berkolaborasi dengan Dinas Sumber Daya Air       Company has collaborated with the Department of Water Resources
 (SDA) dan Pekerjaan Umum dan Perumahan Rakyat (PUPR)                   (SDA) and the Public Works and Public Housing Agency (PUPR) of
 Kabupaten Pacitan untuk menyediakan solusi infrastruktur yang          Pacitan Regency to provide innovative and effective infrastructure
 inovatif dan efektif.                                                  solutions.


 Proyek ini berfokus pada pembangunan jaringan distribusi air bersih    This project focuses on the development of a clean water distribution
 dari penampungan sumur bor ke pemukiman warga di Desa                  network from the borewell reservoir to the residential area in
 Petungsinaran yang berjarak 630 meter. Dengan menggunakan              Petungsinaran Village, a distance of 630 meters. Using high-quality
 produk pipa berkualitas tinggi dari SPINDO, sistem distribusi ini      pipe products from SPINDO, the distribution system is designed to
 dirancang untuk memastikan pasokan air bersih yang stabil dan          ensure a stable and safe clean water supply. The pipes used are not
 aman. Produk pipa yang digunakan tidak hanya andal tetapi juga         only reliable but also environmentally friendly, supporting long-term
 ramah lingkungan untuk mendukung keberlanjutan jangka panjang.         sustainability.


 Dengan infrastruktur yang memadai, diharapkan kualitas hidup           With adequate infrastructure in place, it is expected that the
 warga meningkat, serta memberikan dampak positif bagi kesehatan        residents' quality of life will improve, positively impacting their health
 dan produktivitas mereka. Proyek ini juga menjadi wujud nyata          and productivity. This project also represents the Company's tangible
 kepedulian Perseroan terhadap pembangunan yang inklusif dan            commitment to inclusive and sustainable development.
 berkelanjutan.


252                      Ikhtisar Utama             Laporan Manajemen                 Profil Perusahaan             Analisa & Pembahasan Manajemen
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Laporan Tahunan 2024




  Program Vokasi Industri untuk Peningkatan Ketrampilan bagi Pelajar / Mahasiswa |
  Industrial Vocational Programs for Skills Improvement for Students

  Sebagai langkah untuk dapat berkontribusi terhadap masyarakat,           As a step to contribute to society, SPINDO runs an Industrial
  SPINDO menjalankan program Vokasi Industri dengan tujuan                 Vocational Program aimed at supporting the community in preparing
  mendukung masyarakat dalam mempersiapkan diri dalam                      themselves for the real working world. The implementation of the
  menghadapi dunia kerja yang sesungguhnya. Penerapan program              industrial vocational program at SPINDO is divided into 2 (two) parts:
  vokasi industri yang ada di SPINDO terbagi menjadi 2 (dua) yaitu         Work Internship and Industrial Work Practice (Prakerin).
  Pemagangan Kerja dan Praktik Kerja Industri (Prakerin).


  Program Magang ditujukan bagi fresh graduate atau para pencari           The Internship Program is aimed at fresh graduates or job seekers
  kerja yang belum memiliki pengalaman kerja, dengan syarat sudah          who have no work experience, with the requirement of having
  lulus dari pendidikan. Program ini diatur berdasarkan Peraturan          completed their education. This program is regulated under the
  Menteri Ketenagakerjaan Nomor 6 Tahun 2020 tentang                       Minister of Manpower Regulation Number 6 of 2020 concerning the
  Penyelenggaraan Pemagangan dengan dibawahi oleh Kementerian              Implementation of Internships, which is overseen by the Ministry of
  Ketenagakerjaan (Kemnaker) sebagai lembaga yang bertanggung              Manpower (Kemnaker) as the institution responsible for this program.
  jawab atas program ini. Untuk dapat mendukung berlangsungnya             In order to support the implementation of the internship program,
  program pemagangan perusahaan setidaknya perlu memiliki skema            companies must have a scheme that can serve as a guideline for the
  yang dapat dijadikan panduan bagi para peserta magang. Skema             participants. The internship scheme is structured based on the
  pemagangan tersebut disusun dengan mengacu pada Standar                  Indonesian National Work Competency Standards (SKKNI), Specific
  Kompetensi Kerja Nasional Indonesia (SKKNI), Standar Kompetensi          Work Competency Standards (SKKK), International Work
  Kerja Khusus (SKKK), Standar Kompetensi Kerja Internasional (SKKI),      Competency Standards (SKKI), and is tailored to the needs of the
  dan disesuaikan dengan kebutuhan industri. Selain itu, pelaksanaan       industry. Additionally, the internship program involves an agreement
  program magang melibatkan perjanjian pemagangan antara                   between the company and the intern. The contents of the internship
  perusahaan dengan peserta magang. Isi dari hal-hal yang harus            agreement are also regulated under Minister of Manpower
  dimuat dalam perjanjian magang juga telah diatur dalam Permenaker        Regulation Number 6 of 2020.
  Nomor 6 Tahun 2020.


  SPINDO secara resmi telah mendaftarkan kegiatan pemagangan               SPINDO has officially registered its work internship activities with
  kerja kepada Kemnaker. Nomor Izin Pemagangan yang dikeluarkan            Kemnaker. The Internship Permit Number issued by the Ministry of
  oleh Kementerian Ketenagakerjaan (Kemnaker) adalah B-                    Manpower (Kemnaker) is B-2/3650/LP.03.00/IX/2021, with the
  2/3650/LP.03.00/IX/2021, dengan tanggal izin yang diterbitkan            permit date issued on September 8, 2011. This permit covers several
  pada 8 September 2011. Izin ini mencakup beberapa jabatan                internship positions recognized by Kemnaker, including:
  pemagangan yang diakui oleh Kemnaker, antara lain:
  1.       Operator Produksi,                                              1.        Production Operator,
  2.       Operator Pemeliharaan,                                          2.        Maintenance Operator,
  3.       Operator Pengelasan,                                            3.        Welding Operator,
  4.       Operator Quality Control, dan                                   4.        Quality Control Operator, and
  5.       Operator Gudang.                                                5.        Warehouse Operator.


  Durasi pelaksanaan program magang yaitu maksimal selama 12               The duration of the internship program is a maximum of 12 months.
  bulan. Peserta magang akan menerima uang saku yang besarnya              Interns will receive a stipend, the amount of which is adjusted
  disesuaikan dengan kebijakan perusahaan berdasarkan jenjang              according to the company's policy based on the level of education. For
  pendidikan. Untuk lulusan SMA/SMK, uang saku yang diberikan              high school/vocational school graduates, the stipend is 60% of the
  adalah 60% dari Upah Minimum Kabupaten/Kota (UMK) per bulan,             Regional Minimum Wage (UMK) per month, while for graduates with
  sedangkan untuk lulusan D3/D4/S1, uang sakunya adalah 65% dari           a Diploma (D3/D4) or Bachelor's degree (S1), the stipend is 65% of
  UMK per bulan. Peserta magang juga mendapatkan jaminan sosial            the UMK per month. Interns are also covered by social security
  melalui BPJS Ketenagakerjaan, yang mencakup Jaminan Kecelakaan           through BPJS Ketenagakerjaan, which includes Work Accident



          Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan          Referensi                     Laporan Keuangan             253
          Corporate Governance           Corporate Social Responsibility        References                    Financial Statements            6
Page 262
                                                                                                                 2024 Annual Report




 Kerja (JKK) dan Jaminan Kematian (JKM). Setelah menyelesaikan           Insurance (JKK) and Death Insurance (JKM). Upon completing the
 program, peserta akan menerima dua jenis sertifikasi: Sertifikat          program, interns will receive two types of certification: an Internship
 Magang sebagai bukti partisipasi dalam program, dan Sertifikasi          Certificate as proof of participation in the program and a Competency
 Kompetensi dari Badan Nasional Sertifikasi Profesi (BNSP) sebagai        Certification from the National Professional Certification Agency
 pengakuan atas kompetensi yang telah dicapai.                           (BNSP) as recognition for the competencies they have achieved.


 Program Praktek Kerja Industri (Prakerin) ditujukan bagi pelajar atau   The Industrial Work Practice (Prakerin) program is intended for
 mahasiswa yang belum lulus. Program ini diselenggarakan                 students or university students who have not yet graduated. This
 berdasarkan Keputusan Menteri Pendidikan dan Kebudayaan Nomor           program is organized based on the Decree of the Minister of
 323/U/1997 tentang penyelenggaraan Prakerin. Lembaga yang               Education and Culture No. 323/U/1997 concerning the
 bertanggung jawab atas program ini adalah Kementerian Pendidikan        implementation of Prakerin. The institution responsible for this
 dan Kebudayaan (Kemendikbud). Prakerin dirancang agar selaras           program is the Ministry of Education and Culture (Kemendikbud).
 dengan Kurikulum Pendidikan Nasional, sehingga peserta                  Prakerin is designed to align with the National Education Curriculum,
 mendapatkan pengalaman yang             relevan dengan standar          ensuring that participants gain experience relevant to the
 kompetensi atau skema vokasi yang berlaku. Pelaksanaan Prakerin         competency standards or vocational schemes in place. The
 melibatkan perjanjian kerjasama antara perusahaan dengan sekolah        implementation of Prakerin involves a cooperation agreement
 atau universitas melalui perjanjian resmi. Durasi program prakerin      between the company and the school or university through an official
 umumnya berlangsung antara 3 hingga 6 bulan per semester,               agreement. The duration of the Prakerin program generally lasts
 menyesuaikan dengan kebijakan antara institusi pendidikan dan           between 3 to 6 months per semester, depending on the policy
 perusahaan tempat pelaksanaan program. Peserta Prakerin akan            between the educational institution and the company where the
 menerima uang saku yang besarnya disesuaikan dengan jenjang             program is carried out. Prakerin participants will receive a stipend
 pendidikan mereka. Untuk siswa SMA/SMK, uang saku yang                  based on their educational level. For high school/vocational school
 diberikan adalah Rp. 40.000,- per kehadiran, sedangkan untuk            students, the stipend is IDR 40,000 per attendance, while for
 mahasiswa D3/D4/S1, uang sakunya adalah Rp. 55.000,- per                university students (D3/D4/S1), the stipend is IDR 55,000 per
 kehadiran. Namun, karena status peserta masih sebagai siswa atau        attendance. However, since participants are still considered students,
 mahasiswa, mereka tidak mendapatkan jaminan sosial (BPJS).              they do not receive social security coverage (BPJS). Upon completion
 Setelah menyelesaikan program, peserta akan menerima Surat              of the program, participants will receive a Prakerin Certificate from
 Keterangan Prakerin dari perusahaan sebagai bentuk sertifikasi atas      the company as certification of their participation and achievements
 partisipasi dan pencapaian mereka selama mengikuti program ini.         during the program. This certificate will serve as an added value for
 Sertifikat tersebut akan dapat menjadi nilai tambah bagi peserta         Prakerin participants in the job market and help them build a
 prakerin dalam dunia kerja dan membantu peserta dalam                   professional career in the future.
 membangun karier profesional di masa depan.


 Program Pendidikan Vokasi Industri adalah inisiatif yang diluncurkan    The Industrial Vocational Education Program is an initiative launched
 oleh Kementerian Perindustrian Indonesia untuk mempersiapkan            by the Indonesian Ministry of Industry to prepare high-quality and
 sumber daya manusia (SDM) yang berkualitas dan kompeten dalam           competent human resources (HR) to face the era of Industry 4.0. This
 menghadapi era industri 4.0. Program ini bertujuan untuk                program aims to create alignment between the needs of the industry
 menciptakan keselarasan antara kebutuhan industri dan pendidikan        and education in Vocational High Schools (SMK) through the link and
 di Sekolah Menengah Kejuruan (SMK) melalui konsep link and match.       match concept.




254                   Ikhtisar Utama                 Laporan Manajemen                 Profil Perusahaan          Analisa & Pembahasan Manajemen
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  Konsep Link and Match | Link and Match Concept

  Ÿ    Kerja Sama Industri dan SMK: Program ini memfasilitasi kerja                Ÿ   Industry and SMK Collaboration: This program facilitates
       sama antara industri dan SMK di seluruh Indonesia, di mana satu                 cooperation between industries and SMKs across Indonesia,
       SMK dapat menjalin hubungan dengan beberapa industri yang                       where a single SMK can establish relationships with several
       relevan dengan bidang keahliannya.                                              industries relevant to its expertise.
  Ÿ    Penyelarasan Kurikulum: Kurikulum SMK disesuaikan dengan                    Ÿ   Curriculum Alignment: The SMK curriculum is adjusted to meet
       kebutuhan industri, dengan 34 program keahlian yang                             industry needs, with 34 areas of expertise implemented to ensure
       diimplementasikan untuk memastikan siswa memiliki kompetensi                    that students possess the competencies required by the job
       yang dibutuhkan oleh pasar kerja.                                               market.
  Ÿ    Pelatihan Pendidik: Kemenperin juga menyediakan pelatihan                   Ÿ   Trainer Training: The Ministry of Industry (Kemenperin) also
       khusus bagi para pendidik untuk mendukung keberhasilan                          provides specialized training for educators to support the success
       program ini.                                                                    of this program.


  Dalam penyesuaian konsep link and match dengan SMK, Perseroan                    In aligning the link and match concept with Vocational High Schools
  menyesuaikan dengan skema pemagangan yang ada dan disusun                        (SMKs), the company adapts to the existing internship scheme, which
  berdasarkan SKKNI dan SKKK. Skema pemagangan tersebut                            is structured based on the Indonesian National Work Competency
  diantaranya yaitu,                                                               Standards (SKKNI) and Specific Work Competency Standards
                                                                                   (SKKK). The internship scheme includes, among others, the following:



          No.                                 Skema | Scheme

  1.       Teknik Permesinan                                      Operator Mesin Circle Otomatis              Automatic Circle Machine Operator
           Mechanical Engineering                                 Operator Mesin Circle Manual                Manual Circle Machine Operator
                                                                  Operator Mesin Circle Semi Auto             Semi-Automatic Circle Machine Operator
                                                                  Operator Mesin Cut Press Brushing           Cut Press Brushing Machine Operator
                                                                  Operator Mesin Cut Press Champer            Cut Press Champer Machine Operator
                                                                  Operator Mesin Deburing Hidrolik            Hydraulic Deburring Machine Operator
                                                                  Operator Mesin Deburing Pneumatik           Pneumatic Deburring Machine Operator
                                                                  Operator Mesin End Brushing Otomatis        Automatic End Brushing Machine Operator
                                                                  Operator Mesin End Brushing Manual          Manual End Brushing Machine Operator
                                                                  Pengoperasian Mesin Bubut                   Lathe Machine Operation
                                                                  Pengoperasian Mesin Frais                   Milling Machine Operation
                                                                  Pembuatan Spesimen Uji                      Test Specimen Manufacturing
                                                                  Pemeriksaan Akhir Pipa Barepipe             Barepipe Final Inspection
  2.       Teknik Kendaraan Ringan                                Operator Mesin Circle Otomatis              Automatic Circle Machine Operator
           Light Vehicle Engineering                              Operator Mesin Circle Manual                Manual Circle Machine Operator
                                                                  Operator Mesin Circle Semi Auto             Semi-Automatic Circle Machine Operator
                                                                  Operator Mesin Cut Press Brushing           Cut Press Brushing Machine Operator
                                                                  Operator Mesin Cut Press Champer            Cut Press Champer Machine Operator
                                                                  Operator Mesin Deburing Hidrolik            Hydraulic Deburring Machine Operator
                                                                  Operator Mesin Deburing Pneumatik           Pneumatic Deburring Machine Operator
                                                                  Operator Mesin End Brushing Otomatis        Automatic End Brushing Machine Operator
                                                                  Operator Mesin End Brushing Manual          Manual End Brushing Machine Operator
                                                                  Operator Mesin Heles                        Heles Machine Operator
                                                                  Operator Mesin Piercing                     Piercing Machine Operator
                                                                  Operator Marking & Packing                  Marking & Packing Operator
                                                                  Pemeliharaan Otomotif                       Automotive Maintenance


            Tata Kelola Perusahaan         Tanggung Jawab Sosial Perusahaan                Referensi                      Laporan Keuangan           255
            Corporate Governance             Corporate Social Responsibility              References                     Financial Statements          6
Page 264
                                                                                                                    2024 Annual Report




        No.                               Skema | Scheme

 3. Teknik Instalasi Tenaga Listrik                                Pemeliharaan Listrik Dasar                 Basic Electrical Maintenance
      Electrical Power Installation Engineering                    Pemeliharaan Sistem Hidrolik               Hydraulic System Maintenance
                                                                   Pemeliharaan Sistem Pneumatik              Pneumatic System Maintenance
                                                                   Perbaikan Cacat Pengelasan pada Pipa       Weld Defect Repair on Pipe
 4. Teknik Bodi Kendaraan Ringan                                   Perbaikan Cacat Pengelasan pada Pipa       Weld Defect Repair on Pipe
      Light Vehicle Body Engineering                               Pembuatan Aksesoris Pipa                   Pipe Accessory Manufacturing
                                                                   Pengelasan SMAW Dasar                      Basic SMAW Welding
 5. Teknik Ototronik                                               Pemeliharaan Sistem Hidrolik               Hydraulic System Maintenance
      Autotronics Engineering                                      Pemeliharaan Sistem Pneumatik              Pneumatic System Maintenance
 6. Teknik Sepeda Motor | Motorcycle Engineering                   Pemeliharaan Otomotif                      Automotive Maintenance
 7. Teknik Komputer & Jaringan | Computer & Network Engineering    ICT                                        ICT
 8. Desain Komunikasi Visual                                       ICT                                        ICT
      Visual Communication Design                                  Digital Marketing                          Digital Marketing




Pusat Pelatihan SPINDO | SPINDO Training Center

 Untuk mendukung keberlangsungan program vokasi industri, baik             To support the sustainability of the industrial vocational program,
 dalam pelaksanaan magang kerja maupun praktik kerja industri, PT          both in the implementation of internships and industrial work
 Spindo, Tbk menunjukkan komitmen yang kuat untuk meningkatkan             practices, PT Spindo Tbk demonstrates a strong commitment to
 kualitas program tersebut. Salah satu upaya yang dilakukan adalah         improving the quality of these programs. One of the efforts made is by
 dengan menyediakan fasilitas berupa Training Center atau Pusat            providing a facility in the form of a Training Center, designed to offer
 Pelatihan yang dirancang untuk memberikan pengalaman praktik              hands-on experience alongside Subject Matter Experts.
 langsung bersama para Subject Matter Expert.
                                                                           This Training Center is located at Spindo Unit 6, Jalan Raya
 Pusat pelatihan ini berlokasi di Spindo Unit 6, Jalan Raya                Cemengkalang No. 10, Sidoarjo. As part of this commitment, trainers
 Cemengkalang No. 10, Sidoarjo. Sebagai bagian dari komitmen ini,          conduct technical training sessions once a month. In these training
 para pelatih menyelenggarakan pelatihan teknis setiap bulan sekali.       sessions, participants not only receive theoretical explanations but
 Dalam pelatihan ini, peserta tidak hanya mendapatkan penjelasan           also have the opportunity to directly apply their knowledge using
 teoritis tetapi juga kesempatan untuk mempraktikkan langsung              specialized equipment available at the Training Center. The aim is to
 pengetahuan mereka dengan menggunakan peralatan khusus yang               ensure that participants gain a comprehensive understanding and
 tersedia di Training Center. Hal ini bertujuan untuk memastikan           valuable hands-on experience in the industrial field.
 bahwa peserta mendapatkan pemahaman yang komprehensif dan
 pengalaman langsung yang berharga dalam bidang industri.




256                    Ikhtisar Utama                Laporan Manajemen                   Profil Perusahaan            Analisa & Pembahasan Manajemen
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  Tanggung Jawab Sosial Perusahaan Kepada Pelanggan
  Corporate Social Responsibility to Customers



  Komitmen Tanggung Jawab Sosial Perusahaan Kepada Pelanggan |
  Corporate Social Responsibility Commitment to Customers

  Dalam salah satu penetapan tujuan untuk menjalankan Misi                 One of the goals set for carrying out the Company's organizational
  organisasi Perusahaan, disebutkan poin mengenai “No Complaints”          mission includes a point regarding "No Complaints," which is aimed
  yang ditujukan Perseroan bagi kepuasan pelanggan. Artinya seluruh        at ensuring customer satisfaction. This means that all employees are
  insan Perseroan diminta untuk memberikan pelayanan menyeluruh            expected to provide comprehensive service to customers. A very
  kepada para pelanggan. Persepsi yang sangat baik terhadap kinerja        positive perception of the Company's performance is expected to
  Perseroan diharapkan dapat menjadikan konsumen sebagai                   result in loyal customers who remain committed to the products and
  pelanggan setia terhadap produk dan layanan Perseroan.                   services offered by the Company.


  Perseroan mengedepankan pelanggan sebagai Pemangku                       The Company prioritizes customers as key stakeholders for the
  Kepentingan utama bagi keberlangsungan dan keberlanjutan bisnis.         continuity and sustainability of the business. Therefore, the Company
  Untuk itu, Perseroan secara terus menerus melakukan terobosan dan        continually makes breakthroughs and innovations to provide ease of
  inovasi guna memberikan kemudahan layanan dan perlindungan               service and protection to its customers. The Company does not
  terhadap para pelanggannya. Perseroan tidak hanya sekadar                merely fulfill all the conditions outlined in the cooperation agreement;
  memenuhi seluruh butir yang disyaratkan dari Perjanjian kerja sama.      beyond that, it strives to provide added value to its customers.
  Lebih dari itu, Perseroan akan berupaya maksimal memberikan nilai        Customers should feel advantaged by partnering with SPINDO.
  tambah bagi para pelanggan. Pelanggan harus merasa diuntungkan
  menjalin kerja sama dengan SPINDO.




  Pelaksanaan Inisiatif Pelayanan Kepada Pelanggan | Implementation of Customer Service Initiatives

  Guna memberikan pelayanan yang maksimal kepada para                      In order to provide maximum service to customers, the Company has
  pelanggan, Perseroan mulai tahun 2024 menargetkan zero penalty           set a target of zero penalties or sanctions in service delivery starting in
  atau nihil sanksi dalam memberikan pelayanan. Perseroan juga             2024. The Company is also committed to addressing complaints or
  berkomitmen untuk menyelesaikan keluhan ataupun pengaduan                grievances in accordance with the terms of the cooperation
  sesuai dengan standar kerjasama yang telah disepakati sebelumnya.        agreements previously established.


  Dalam upaya mencapai target yang telah ditetapkan oleh                   To achieve the targets set by management, the Company undertakes
  manajemen, maka Perseroan melakukan kegiatan atau program                the following activities or programs:
  sebagai berikut:                                                         Ÿ   Disciplined Production Process Management: Ensuring that the
  Ÿ   Manajemen proses produksi yang displin dan sesuai dengan                 production process is managed in a disciplined manner and
      target yang telah dibuat.                                                aligned with the established targets.
  Ÿ   Pelaksanaan pengendalian mutu (Quality Control) yang sesuai          Ÿ   Quality Control Implementation: Carrying out quality control (QC)
      dengan prosedur guna memastikan kesesuaian produk dengan                 procedures to ensure that the products meet the agreed-upon
      persyaratan standar yang disepakati. Hal tersebut juga berlaku           standards. This also applies to business units that provide
      bagi unit bisnis yang menghasilkan sektor jasa bagi pelanggan.           services to customers.
  Ÿ   Pendistribusian produk yang mengutamakan Keselamatan dan             Ÿ   Product Distribution with a Focus on Occupational Health and
      Kesehatan Kerja (K3). Perseroan memastikan proses                        Safety (K3): The Company ensures that the distribution process,
      pendistribusian terlebih untuk produk-produk yang memiliki               especially for products with high safety risks due to their size, is
      resiko tinggi bagi keselamatan dikarenakan besarannya, agar              carried out according to K3 procedures to prioritize health and
      dilakukan sesuai prosedur K3.                                            safety during transportation and delivery.




          Tata Kelola Perusahaan       Tanggung Jawab Sosial Perusahaan          Referensi                       Laporan Keuangan               257
          Corporate Governance           Corporate Social Responsibility        References                      Financial Statements              6
Page 266
                                                                                                                  2024 Annual Report




 Ÿ    Informasi jasa yang faktual kepada Pelanggan. Perseroan dalam       Ÿ   Factual service information to the customers. In this aspect, the
      hal ini memberikan informasi faktual mengenai produk,                   Company provides factual information pertaining to products,
      pendistribusian ataupun jasa yang dilakukan Perseroan secara            distribution activity or services rendered by the Company in
      spesifik dan faktual. Selain itu Perseroan juga melakukan                specific and factual. The aim is to aver misperception and
      mekanisme pengecekan berkala di lapangan agar informasi yang            misinformation between the Company and the customers under
      disampaikan kepada Pelanggan sesuai dengan fakta di lapangan.           an active agreement. Information disclosure will greatly impact
      Hal ini dilakukan agar tidak terjadi kesalahan persepsi dan             the prevention of future disputes between the Company and the
      informasi antar Perseroan dan pelanggan saat kerjasama                  customers or work partners.
      dilakukan. Keterbukaan informasi akan sangat berdampak dalam        Ÿ   Innovation and Development of product and service specification
      pencegahan perselisihan di kemudian hari antara Perseroan dan           provided by SPINDO are continuous priorities as an effort to
      pelanggan atau mitra kerja.                                             render satisfaction for the customers in which include as well the
 Ÿ    Inovasi dan Pengembangan spesifikasi produk maupun jasa yang             aspect of improvement and refinement.
      dihasilkan SPINDO terus menerus dilakukan sebagai upaya             Ÿ   Improvement, refinement and innovation that has been and being
      memberikan kepuasan bagi pelanggan termasuk melakukan                   conducted includes:
      perbaikan dan penyempurnaan.                                            a. Investment adjustment according to the regulations
 Ÿ    Perbaikan, penyempurnaan dan inovasi yang telah dan sedang              b. Throughout 2024, there were no incidents of noncompliance
      dilakukan oleh Perseroan diantaranya:                                      with the laws and regulations over a product or service
      a. Penyesuaian investasi sesuai dengan regulasi                            provided by the Company. Also, there were fines imposed for
      b. Sepanjang tahun 2024, tidak ada insiden ketidakpatuhan                  noncompliance related to the production of goods and
          terhadap peraturan dan perundang-undangan atas suatu                   services by the Company.
          produk atau jasa yang diberikan Perseroan. Juga, tidak ada
          denda atas ketidakpatuhan yang berkaitan dengan produksi
          produk serta penyediaan jasa yang diberikan Perseroan.



 Tata Kelola Pengaduan Konsumen | Customer Complaint Management
 Penanganan Keluhan Pelanggan diatur dalam sebuah Prosedur                Customer complaint handling is regulated through a Complaints
 Penanganan Keluhan, dimana adanya panduan dalam menangani                Handling Procedure, which includes guidelines for addressing
 keluhan pelanggan, yaitu melalui pedoman FAQ (Frequently Asked           customer complaints, such as a FAQ (Frequently Asked Questions)
 Questions). Perseroan juga melakukan pembaharuan secara terus            guide. The Company also continuously updates this procedure each
 menerus di setiap tahun, mengacu kepada Standard Operating               year, referring to the Standard Operating Procedure (SOP) set by the
 Procedure (SOP) yang di tetapkan Perseroan mengenai pengelolaan          Company regarding complaint management. As a result, the
 pengaduan/keluhan. Atas hal tersebut Perseroan akan memberikan           Company ensures responses to questions and/or complaints from
 tanggapan/respon atas pertanyaan dan atau keluhan para Pemangku          stakeholders on the guestbook of the Company's website within a
 Kepentingan pada buku tamu situs web elektronik Perseroan                maximum of 1x24 hours, or direct notifications from customers
 selambat-lambatnya 1x24 jam maupun pemberitahuan langsung                through the responsible Sales personnel.
 dari pelanggan melalui personil Sales yang bertanggung jawab.
                                                                          The complaint management mechanism begins with receiving
 Adapun mekanisme pengelolaan pengaduan/keluhan tersebut didahului        questions/complaints from stakeholders, verifying the issue with the
 dengan penerimaan pertanyaan/keluhan dari Pemangku Kepentingan,          relevant units to obtain further information, and then providing a
 melakukan verifikasi dengan unit terkait guna mendapatkan informasi       response or resolution to the stakeholder's complaint. The division
 lebih lanjut, selanjutnya menyampaikan jawaban atau penanganan           responsible for managing customer complaints within the Company
 keluhan diberikan kepada Pemangku Kepentingan. Sebagai                   is the Sales Division. Throughout 2024, there have been no material
 Penanggung Jawab dalam pengelolaan pengaduan pelanggan di                complaints submitted to the Company.
 Perseroan adalah Divisi Sales. Sepanjang 2024, tidak terdapat
 pengaduan yang bersifat material kepada Perseroan.



258                     Ikhtisar Utama                Laporan Manajemen                Profil Perusahaan           Analisa & Pembahasan Manajemen
  6                       Highlights                  Management Report                Company Profile             Management Discussion & Analysis
Page 267
Laporan Tahunan 2024




                     Referensi SEOJK No.30/SEOJK.04/2016: Laporan Tahunan Perusahaan
         Public Reference of OJK Circular Letter No.30/SEOJK.04/2016: Annual Report & Public Company




       Tata Kelola Perusahaan   Tanggung Jawab Sosial Perusahaan     Referensi     Laporan Keuangan      259
       Corporate Governance       Corporate Social Responsibility   References    Financial Statements     6
Page 268
                                                                                                                                                 2024 Annual Report




Referensi
Reference



                    Referensi SEOJK No.30/SEOJK.04/2016: Laporan Tahunan Perusahaan
        Public Reference of OJK Circular Letter No.30/SEOJK.04/2016: Annual Report & Public Company
No.                             Kriteria                                                              Penjelasan                                                 Halaman
                                Criteria                                                              Description                                                 Page

                                                            Bentuk Laporan Tahunan | annual report form

 1.   Laporan Tahunan disajikan dalam bentuk dokumen                                                                                                                       ü
      cetak dan salinan dokumen elektronik.
      The Annual Report is presented in the form of printed
      documents and copies of electronic documents.
 2.   Laporan Tahunan yang disajikan dalam bentuk
      dokumen cetak, dicetak pada kertas yang berwarna
      terang, berkualitas baik, berukuran A4, dijilid, dan                                                                                                                 ü
      dapat diperbanyak dengan kualitas yang baik.
      The Annual Report presented in the form of a printed
      document, printed on lightcolored paper, of good
      quality, A4 size, bound, and can be reproduced in
      good quality.
 3.   Laporan Tahunan yang disajikan dalam bentuk
      salinan dokumen elektronik merupakan Laporan
      Tahunan yang dikonversi dalam format pdf.
      The Annual Report presented in the form of a copy of                                                                                                                 ü
      electronic document that is an Annual Report that
      has been converted in pdf format.




                                                        Isi Laporan Tahunan | contents of the annual report

 1.   Laporan Tahunan paling sedikit memuat informasi           1.     Ikhtisar data keuangan penting;           1.   Overview of important financial data;                 ü
      mengenai :                                                2.     Informasi saham ( jika ada);              2.   Shares information (if any);
      The Annual Report contains at least information           3.     Laporan Direksi;                          3.   Directors' Report;
      about:                                                    4.     Laporan Dewan Komisaris;                  4.   Report of the Board of Commissioners;
                                                                5.     Profil Emiten atau PerusahaanPublik;       5.   Profile of Issuer or Public Company;
                                                                6.     Analisis dan pembahasan manajemen;        6.   Management analysis and discussion;
                                                                7.     Tata kelola Emiten atau Perusahaan        7.   Governance of Issuers or Public
                                                                       Publik;                                        Companies;
                                                                8.     Tanggung jawab sosial & lingkungan        8.   Social & environmental responsibilities
                                                                       Emiten atau Perusahaan Publik;                 of the Issuer or Public Company;
                                                                9.     Laporan keuangan tahunan yang telah       9.   Annual audited financial statements;
                                                                       diaudit; dan                                   and
                                                                10. Surat pernyataan anggota Direksi dan         10. Statement of members of the Board of
                                                                       anggota Dewan Komisaris tentang                Directors and members of the Board of
                                                                       tanggung jawab atas Laporan Tahunan;           Commissioners regarding responsibilities
                                                                                                                      for the Annual Report;
 2.   Laporan Tahunan dapat menyajikan informasi                                                                                                                           ü
      berupa gambar, grafik, tabel, dan/atau diagram
      dengan mencantumkan judul dan/atau keterangan
      yang jelas, sehingga mudah dibaca dan dipahami;
      The Annual Report can present information in the
      form of images, graphics, tables, and/or diagrams
      by including clear title and/or information, so that it
      is easy to read and understand.




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Page 269
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  No.                          Kriteria                                                            Penjelasan                                                                          Halaman
                               Criteria                                                            Description                                                                          Page

  3.    Ikhtisar Data Keuangan Penting memuat informasi            1.   Pendapatan/penjualan;                          1.   Income / sales;                                              4-6
        keuangan yang disajikan dalam bentuk                       2.   Laba bruto;                                    2.   Gross profit;
        perbandingan selama 3 (tiga) tahun buku atau sejak         3.   Laba (rugi);                                   3.   Profit (loss);
        memulai usahanya jika Emiten atau Perusahaan               4.   Jumlah laba (rugi) yang dapat                  4.   Amount of profit (loss) attributable to
        Publik tersebut menjalankan kegiatan usahanya                   diatribusikan kepada pemilik entitas induk          owners of the parent entity and non-
        kurang dari 3 (tiga) tahun, paling sedikit memuat:              dan kepentingan non pengendali;                     controlling interests;
        Summary of Important Financial Data contains               5.   Total laba (rugi) komprehensif;                5.   Total comprehensive profit (loss);
        financial information presented in the form of              6.   Jumlah laba (rugi) komprehensif yang           6.   To t a l c o m p r e h e n s i v e p r o fi t ( l o s s )
        comparison for 3 (three) financial years or from the             dapat diatribusikan kepada pemilik entitas          attributable to owners of the parent entity
        start of the business if the Issuer or Public Company           induk dan kepentingan non pengendali;               and non-controlling interests;
        performs its business activities in less than 3 (three)    7.   Laba (rugi) per saham;                         7.   Profit (loss) per share;
        years, at least contains:                                  8.   Jumlah aset;                                   8.   Amount of assets;
                                                                   9.   Jumlah liabilitas;                             9.   Total liabilities;
                                                                   10. Jumlah ekuitas;                                 10. Amount of equity;
                                                                   11. Rasio laba (rugi) terhadap jumlah aset;         11. Ratio of profit (loss) to total assets;
                                                                   12. Rasio laba (rugi) terhadap ekuitas;             12. Ratio of profit (loss) to equity;
                                                                   13. Rasio laba (rugi) terhadap pendapatan           13. Ratio of profit (loss) to income/sales;
                                                                        /penjualan;                                    14. Current ratio;
                                                                   14. Rasio lancar;                                   15. Liabilities to equity ratio;
                                                                   15. Rasio liabilitas terhadap ekuitas;              16. Ratio of liabilities to total assets; and
                                                                   16. Rasio liabilitas terhadap jumlah aset; dan      17. Information and other financial ratios
                                                                   17. Informasi dan rasio keuangan lainnya                 relevant to the Issuer or Public Company
                                                                        yang relevan dengan Emiten atau                     and the type of industry.
                                                                        Perusahaan Publik dan jenis industrinya;
  4.    Informasi Saham                                            Informasi saham ( jika ada) paling sedikit          Share information (if any) contains at least:                     7-9
        Share information                                          memuat:                                             1) Shares that have been issued for each
                                                                   1)   Saham yang telah diterbitkan untuk setiap           quarter (if any) which are presented in a
                                                                        masa triwulan ( jika ada) yang disajikan            comparative form for the last 2 (two)
                                                                        dalam bentuk perbandingan selama 2                  financial years, at least include:
                                                                        (dua) tahun buku terakhir, paling sedikit           a)    Number of outstanding shares;
                                                                        meliputi:                                           b)    Market capitalization based on prices
                                                                        a)   Jumlah saham yangberedar;                            on the Stock Exchange where the
                                                                        b)   Kapitalisasi pasar berdasarkan harga                 shares are listed;
                                                                             pada Bursa Efek tempat saham                   c)    The highest, lowest and closing share
                                                                             dicatatkan;                                          price are based on the price on the
                                                                        c)   Harga saham tertinggi, terendah, dan                 Stock Exchange where the shares are
                                                                             penutupan berdasarkan harga pada                     listed; and
                                                                             Bursa Efek tempat saham dicatatkan;            d) Trading volume on the Stock Exchange
                                                                             dan                                                  where the shares are listed;
                                                                        d)   Volume perdagangan pada Bursa                        Information in letter a) is disclosed by
                                                                             Efek tempat saham dicatatkan;                        an Issuer which is a Public Company
                                                                             Informasi pada huruf a) diungkapkan                  whose shares are listed or not listed in
                                                                             oleh Emiten yang merupakan                           the Stock Exchange; Information in
                                                                             Perusahaan Terbuka yang sahamnya                     letter b), letter c), and letter d) is only
                                                                             tercatat maupun tidak tercatat di                    disclosed if the Issuer is a Public
                                                                             Bursa Efek; Informasi pada huruf b),                 Company and its shares are listed in
                                                                             huruf c), dan huruf d) hanya                         the Stock Exchange;
                                                                             diungkapkan jika Emiten merupakan
                                                                             Perusahaan Terbuka dan sahamnya
                                                                             tercatat di Bursa Efek;                   2)   In the event of a corporate action, such as a
                                                                   2)   Dalam hal terjadi aksi korporasi, seperti           stock split, reverse stock, stock dividend,                 10-11
                                                                        pemecahan saham (stock split),                      bonus shares, and changes in the share
                                                                        penggabungan saham (reverse stock),                 nominal value, the share information as
                                                                        dividen saham, saham bonus, dan                     referred to in number 1) adds an
                                                                        perubahan nilai nominal saham, informasi            explanation of at least:
                                                                        saham sebagaimana dimaksud pada
                                                                        angka 1) Ditambahkan penjelasan paling
                                                                        sedikit mengenai:




           Tata Kelola Perusahaan                 Tanggung Jawab Sosial Perusahaan                         Referensi                                   Laporan Keuangan                         261
           Corporate Governance                     Corporate Social Responsibility                       References                                  Financial Statements                        6
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No.                             Kriteria                                                                     Penjelasan                                                                  Halaman
                                Criteria                                                                     Description                                                                  Page

                                                                                  a)   Tanggal pelaksanaan aksi korporasi;           a)   Date of implementation of
                                                                                  b)   Rasio pemecahan saham (stock split), corporate action;
                                                                                       penggabungan saham (reverse                   b)   Stock split ratio, reverse stock, stock
                                                                                       stock), dividen saham, saham bonus, dividend, bonus shares, and changes in share
                                                                                       dan perubahan nilai nominal saham;       nominal value;
                                                                                  c)   Jumlah saham beredar sebelum dan              c)   Number of outstanding shares
                                                                                       sesudah aksi korporasi; dan              before and after corporate actions; and
                                                                                  d)   Harga saham sebelum dan sesudah               d)   Share prices before and after
                                                                                       aksi korporasi;                          corporate actions;
 5.   D a l a m h a l t e r j a d i p e n g h e n t i a n s e m e n t a ra
      perdagangan saham (suspension), dan/atau                                                                                                                                        Tidak Terjadi | Not
      penghapusan pencatatan saham (delisting) dalam                                                                                                                                         Occur
      tahun buku, Emiten atau Perusahaan Publik
      menjelaskan alasan penghentian sementara
      perdagangan saham (suspension) dan/atau
      penghapusan pencatatan saham (delisting) tersebut;
      dan
      In the event of a temporary suspension of stock
      trading (suspension) and / or the elimination of
      delisting in the financial year, the Issuer or Public
      Company explains the reason for the temporary
      termination of stock trading (suspension) and/or the
      delisting of the delisting; and
 6.   Dalam hal penghentian sementara perdagangan
      saham (suspension) dan/atau penghapusan                                                                                                                                         Tidak Terjadi | Not
      pencatatan saham (delisting) sebagaimana                                                                                                                                               Occur
      dimaksud pada angka 3) masih berlangsung hingga
      akhir periode Laporan Tahunan, Emiten atau
      Perusahaan Publik menjelaskan tindakan yang
      dilakukan untuk menyelesaikan penghentian
      sementara perdagangan saham (suspension)
      dan/atau penghapusan pencatatan saham (delisting)
      tersebut;
      In the event that the suspension of stock trading
      (suspension) and / or the
      elimination of delisting as referred to in number 3)
      continues until the end of the
      Annual Report period, the Issuer or Public Company
      explains the actions taken to resolve the suspension
      of stock trading (suspension) and / or deletion of the
      delisting;
 7.   Laporan Direksi                                                        Memuat:                                            Contains:
      Board of Directors’ Reports                                            1) Uraian singkat mengenai kinerja Emiten atau 1)       A brief description of the performance of              23-28
                                                                                  Perusahaan Publik, paling sedikit meliputi:        the Issuer or Public Company, at least
                                                                                  a)   Strategi dan kebijakan strategis              includes:
                                                                                       Emiten atau Perusahaan Publik;                a)   Strategies and strategic policies of
                                                                                  b)   Perbandingan antara hasil yang                     the Issuer or Public Company;
                                                                                       dicapai dengan yang ditargetkan; dan          b)   Comparison between the results
                                                                                  c)   Kendala yang dihadapi Emiten atau                  achieved and those targeted; and
                                                                                       Perusahaan Publik;                            c)   Constraints faced by the Issuer or
                                                                             2)   Gambaran tentang prospek usaha;                         Public Company;
                                                                             3)   Penerapan tata kelola Emiten atau 2)               Description of business prospects;
                                                                                  Perusahaan Publik; dan                        3)   Implementation of governance of the
                                                                             4)   Perubahan komposisi anggota Direksi dan            Issuer or Public Company; and
                                                                                  alasan perubahannya ( jika ada).              4)   Changes in the composition of the
                                                                                                                                     members of the Board of Directors and
                                                                                                                                     the reasons for the changes (if any).




262                            Ikhtisar Utama                                     Laporan Manajemen                             Profil Perusahaan                    Analisa & Pembahasan Manajemen
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  No.                             Kriteria                                                                    Penjelasan                                                                Halaman
                                  Criteria                                                                    Description                                                                Page

  8.    Laporan Komisaris                                                      Memuat:                                         Contains:                                                 14-17
        Board of Commissioners’ Reports                                        1)   Penilaian terhadap kinerja Direksi         1) Assessment of the performance of the
                                                                                    mengenai pengelolaan Emiten atau                Board of Directors regarding the
                                                                                    Perusahaan Publik;                              management of the Issuer or Public
                                                                               2)   Pengawasan terhadap implementasi                Company;
                                                                                    strategi Emiten atau Perusahaan Publik;    2)   Supervision of the strategy implementation
                                                                               3)   Pandangan atas prospek usaha Emiten             of the Issuer or Public Company;
                                                                                    atau Perusahaan Publik yang disusun        3) A view of the business prospects of the
                                                                                    oleh Direksi;                                   Issuer or Public Company compiled by
                                                                               4)   Pandangan atas penerapan tata kelola            the Board of Directors;
                                                                                    Emiten atau Perusahaan Publik;             4 ) V i e ws o n t h e i m p l e m e n t a t i o n o f
                                                                               5)   Perubahan komposisi anggota Dewan               governance of the Issuer or Public
                                                                                    Komisaris dan alasan perubahannya               Company;
                                                                                    ( jika ada); dan                           5) Changes in the composition of the
                                                                               6)   Frekuensi dan cara pemberian nasihat            members of the Board of Commissioners
                                                                                    kepada anggota Direksi.                         and the reasons for the changes (if any);
                                                                                                                                    and
                                                                                                                               6)   Frequency and method of giving advice
                                                                                                                                    to members of the Board of Directors.


                                                                               Profil Perusahaan | Company Profile

  1.    Nama Emiten atau Perusahaan Publik termasuk                                                                                                                                      36-37
        a p a b i l a t e rd a p a t p e r u b a h a n n a m a , a l a s a n
        perubahan, dan tanggal efektif perubahan nama
        pada tahun buku;
        Name of the Issuer or the Public Company including if
        there is changes in name, reason of change, and
        effective date of name change in the financial year;
  2.    Akses terhadap Emiten atau Perusahaan Publik
        termasuk kantor cabang atau kantor perwakilan                                                                                                                                     37
        yang memungkinkan masyarakat dapat memperoleh
        informasi mengenai Emiten atau Perusahaan Publik;
        Access to Issuer or Public Company including the
        branch office or the representative office that made it
        possible for the public to obtain information on Issuer
        or Public Company;
  3.    Riwayat singkat Emiten atau Perusahaan Publik;                                                                                                                                   38-39
        Brief history of the Issuer or Public Company;
  4.    Visi dan Misi emiten atau Perusahaan publik;                                                                                                                                     40-41
        Vision and Mission of the Issuer or Public Company;
  5.    Kegiatan usaha menurut AD terakhir, kegiatan usaha                                                                                                                               44-53
        yang dijalankan pada tahun buku serta jenis barang
        dan/atau jasa yang dihasilkan.
        Business activities according to the last articles of
        association, business activities conducted in the
        financial year and type of goods and/or service
        produced.
  6.    Struktur organisasi emiten atau perusahaan publik                                                                                                                                62-63
        dalam bagan, paling sedikit sampai dengan struktur
        1 tingkat di bawah Direksi disertai dengan nama dan
        jabatan.
        The organizational structure of the Issuer or Public
        Company in a chart, at least up to one level under the
        Board of Directors which includes the names and
        positions.




           Tata Kelola Perusahaan                          Tanggung Jawab Sosial Perusahaan                        Referensi                                 Laporan Keuangan                    263
           Corporate Governance                              Corporate Social Responsibility                      References                                Financial Statements                   6
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No.                       Kriteria                                               Penjelasan                                                                       Halaman
                          Criteria                                               Description                                                                       Page

 7.   Profil Direksi:                        Informasi memuat :                                           Information contains:                                       29-34
      Profile of the Board of Directors      a)    Nama dan jabatan yang sesuai dengan a)                      Name and position according to duties
                                                  tugas dan tanggung jawab;                                   and responsibilities;
                                            b)    Foto terbaru;                                          b)   Recent photograph;
                                            c)    Usia;                                                  c)   Age
                                            d)    Kewarganegaraan;                                       d)   Citizenship
                                            e)    Riwayat pendidikan;                                    e)   Educational Background
                                            f)    Riwayat jabatan, meliputi informasi:                   f)   Job history, includinginformation:
                                                  1)   Dasar hukum penunjukan sebagai                         1)    Legal basis of appointment as a
                                                        anggota Direksi pada Emiten atau                            member of the Board of Directors
                                                        P e r u s a h a a n P u b l i k y a n g b e r-              with the concerned Issuer or Public
                                                        sangkutan;                                                  Company;
                                                  2)   Rangkap jabatan, baik sebagai                          2)    Double positions, either as a member of
                                                        anggota Direksi, anggota Dewan                              the Board of Directors, member of the
                                                        Komisaris, dan/atau anggota komite                          Board of Commissioners, and/or
                                                        serta jabatan lainnya ( jika ada); dan                      committee member and other positions
                                                  3)   Pengalaman kerja beserta periode                             (if any); and
                                                        waktunya baik di dalam maupun di                      3) Work experience along with the time
                                                        luar Emiten atau Perusahaan Publik;                         period both inside and outside of the
                                            g)    Pendidikan dan/atau pelatihan yang telah                          Issuer or Public Company;
                                                   d i i k u t i a n g g o t a D i r e k s i d a l a m g)     Education and / or training that members
                                                   meningkatkan kompetensi dalam tahun                        Board of Directors have followed in order
                                                   buku ( jika ada); dan                                      to improve their competence in the
                                            h)    Hubungan Afiliasi dengan anggota Direksi                     financial year (if any); and
                                                   lainnya, anggota Dewan Komisaris, dan h)                   Affiliate Relations with other members of
                                                   pemegang saham utama ( jika ada)                           the Board of Directors, members of the
                                                   meliputi nama pihak yang terafiliasi;                       Board of Commissioners, and main
                                                                                                              shareholders (if any) including the name of
                                                                                                              the affiliated party;
 8.   Profil Dewan Komisaris:                Informasi memuat :                                           Information contains:                                       18-22
      Profil of the Board of Commissioners   a)    Nama;                                                  a)   Name;
                                            b)    Foto terbaru;                                          b)   Recent photograph;
                                            c)    Usia;                                                  c)   Age
                                            d)    Kewarganegaraan;                                       d)   Citizenship
                                            e)    Riwayat pendidikan;                                    e)   Educational Background
                                            f)    Riwayat jabatan, meliputi informasi:                   f)   Job history, including information:
                                                  (1) Dasar hukum penunjukan sebagai                          (1) Legal basis of appointment as a
                                                       anggota Dewan Komisaris yang                                member of the Board of
                                                       bukan merupakan Komisaris                                   Commissioners who is not an
                                                       Independen pada Emiten atau                                 Independent Commissioner of the
                                                       P e r u s a h a a n P u b l i k y a n g b e r-              Issuers or a Public Company that is
                                                       sangkutan;                                                  concerned;
                                                  (2) Dasar hukum penunjukan pertama                          (2) Legal basis of first time appointment as
                                                       kali sebagai anggota Dewan                                  the member of the Board of
                                                       Komisaris yang merupakan Komisaris                          Commissioners who is also an
                                                       Independen pada Emiten atau                                 Independent Commissioner of the
                                                       Perusahaan Publik yang bersangkut-                          Issuer or a Public Company that is
                                                       an;                                                         concerned;
                                                  (3) Rangkap jabatan, baik sebagai                           (3) Double positions, either as a member
                                                       anggota Dewan Komisaris, anggota                            of the Board of Commissioners,
                                                       Direksi, dan/atau anggota komite                            member of the Board of Directors,
                                                       serta jabatan lainnya ( jika ada); dan                      and/or committee member and other
                                                  (4) Pengalaman kerja beserta periode                             positions (if any); and
                                                       waktunya baik di dalam maupun di                       (4) Work experience along with the time
                                                       luar Emiten atau Perusahaan Publik;                         period both inside and outside of the
                                            g)    Pendidikan dan/atau pelatihan yang telah                         Issuer or Public Company;

                                                   diikuti anggota Dewan Komisaris dalam g)                   Education and/or training that the
                                                                                                              members Board of Commissioners have
                                                   meningkatkan kompetensi dalam tahun
                                                                                                              followed in order to improve their
                                                   buku ( jika ada);
                                                                                                              competence in the financial year (if any);
264                      Ikhtisar Utama          Laporan Manajemen                                   Profil Perusahaan                        Analisa & Pembahasan Manajemen
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  No.                        Kriteria                                                                 Penjelasan                                                             Halaman
                             Criteria                                                                 Description                                                             Page

                                                                   h)    Hubungan Afiliasi dengan anggota h)                  Affiliate Relations with other members of
                                                                         Dewan Komisaris lainnya dan                         the Board of Commissioners and main
                                                                         pemegang saham utama ( jika ada)                    shareholders (if any) including the name of
                                                                         meliputi nama pihak yang terafiliasi; dan            the affiliated party; and
                                                                   I)    Pernyataan independensi Komisaris i)                Statement of Independent Commissioner
                                                                         Independen dalam hal Komisaris                      in the event of the Independent
                                                                         Independen telah menjabat lebih dari 2              Commissioner has served longer than 2
                                                                         (dua) periode ( jika ada);                          (two) period (if any);
  9.    Dalam hal terdapat perubahan susunan anggota                                                                                                                          17, 28,
        Direksi dan/atau anggota Dewan Komisaris yang                                                                                                                          136
        terjadi setelah tahun buku berakhir sampai dengan
        batas waktu penyampaian Laporan Tahunan,
        susunan yang dicantumkan dalam Laporan Tahunan
        adalah susunan anggota Direksi dan/atau anggota
        Dewan Komisaris yang terakhir dan sebelumnya;
        In the event of a change in the composition of
        members of the Board of Directors and/or member of
        the Board of Commissioners which occurs after the
        financial year ends up to the deadline Submission of
        Annual Reports, the arrangement listed in The
        Annual Report is an arrangement member of the
        Board of Directors and/or the recent members of the
        Board of Commissioners and the previous;
  10.   Jumlah karyawan dan deskripsi sebaran tingkat                                                                                                                         74-75
        pendidikan dan usia karyawan dalam tahun buku;
        Number of employees and description distribution of
        education and age levels employees in the financial
        year;
  11.   Nama pemegang saham dan persentase                         Mencakup antara lain :                               Includes among others:                                76-77
        kepemilikan pada akhir tahun buku;                         a) Pemegang saham yang memiliki 5% (lima a)               Shareholders who own 5% (five percent)
        Name of shareholders and percentage ownership at                persen) atau lebih saham Emiten atau                 or more of the Issuer's or the Company's
        the end of the financial year;                                   Perusahaan Publik;                                   public shares; b) Members of the Board of
                                                                   b) Anggota Direksi dan anggota Dewan                      Directors and members the Board of
                                                                        Komisaris yang memiliki saham Emiten                 Commissioners who own the Issuer's or
                                                                        atau Perusahaan Publik; dan                          the Company’s public shares; and
                                                                   c) Kelompok pemegang saham masyarakat, c)                 Shareholders group community, namely a
                                                                        yaitu kelompok pemegang saham yang                   group of shareholders that have less than
                                                                        masing-masing memiliki kurang dari 5%                5% (five percent) of the Issuer’s shares or
                                                                        (lima persen) saham Emiten atau                      the Public Company’s;
                                                                        Perusahaan Publik;
  12.   Jumlah pemegang saham dan persentase ke-                   Mencakup antara lain :                               Includes among others:                                77, 78
        pemilikan per akhir tahun buku berdasarkan                 a)    Kepemilikan institusi lokal;                   a)   Ownership of the local institutions;
        klasifikasi;                                                b)    Kepemilikan institusi asing;                   b)   Ownership of the foreign institutions;
        Number of shareholders and percentages ownership           c)    Kepemilikan individu lokal; dan                c)   Ownership of the local individual; and
        per the end of the financial year based on the              d)    Kepemilikan individu asing;                    d)   Ownership of the foreign individuals;
        classification;
  13.   Informasi mengenai pemegang saham utama dan                                                                                                                             78
        pengendali Emiten atau Perusahaan Publik, baik
        langsung maupun tidak langsung, sampai kepada
        pemilik individu, yang disajikan dalam bentuk skema
        atau bagan;
        Information about main and controlling shareholders
        of the Issuer or the Public Company, both direct and
        indirect, up to the individual owners, which are
        presented in the form schema or chart;




          Tata Kelola Perusahaan                 Tanggung Jawab Sosial Perusahaan                           Referensi                                  Laporan Keuangan                 265
          Corporate Governance                     Corporate Social Responsibility                         References                                 Financial Statements                6
Page 274
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No.                              Kriteria                                              Penjelasan                                            Halaman
                                 Criteria                                              Description                                            Page

 14.   Nama entitas anak, perusahaan asosiasi,                                                                                                    79
       perusahaan ventura bersama dimana Emiten atau
       Perusahaan Publik memiliki pengendalian bersama
       entitas, beserta persentase kepemilikan saham,
       bidang usaha, total aset, dan status operasi Emiten
       atau Perusahaan Publik tersebut ( jika ada); Untuk
       entitas anak, ditambahkan informasi mengenai
       alamat entitas anak tersebut;
       Name of the subsidiaries, associated companies,
       joint venture companies where the Issuer or the
       Public Company have joint control of the entity,
       together with percentage of share ownership,
       business fields, total assets, and operating status of
       the Issuer or Public Company (If any); For
       subsidiaries, information is added regarding the
       address of the subsidiaries.
 15.   Kronologi pencatatan saham, jumlah saham, nilai                                                                                            42
       nominal, dan harga penawaran dari awal pencatatan
       hingga akhir tahun buku serta nama Bursa Efek
       dimana saham Emiten atau Perusahaan Publik
       dicatatkan ( jika ada);
       Chronology of stock listing, amount shares, nominal
       value, and bid price from the beginning of the
       recording until the end of the year books and names of
       Stock Exchanges where shares of the Issuer or Public
       Company are listed (If any);
 16.   Kronologi pencatatan Efek lainnya selain Efek                                                                                               -
       sebagaimana dimaksud pada angka 15), yang paling
       sedikit memuat nama Efek, tahun penerbitan,
       tanggal jatuh tempo, nilai penawaran, dan peringkat
       Efek ( jika ada);
       Chronology of the recording of other securities
       besides Securities that are referred in numbers 15),
       which contain at least the name of the Securities,
       year of issuance, date of maturity, bid value, and
       rating Securities (if any);
 17.   Nama dan alamat lembaga dan/atau profesi                                                                                                   80
       penunjang pasar modal;
       Name and address of the institution and /or capital
       market supporting professions;
 18.   Dalam hal terdapat profesi penunjang pasar modal yang                                                                                     188
       memberikan jasa secara berkala kepada Emiten atau
       Perusahaan Publik, diungkapkan informasi mengenai
       jasa yang diberikan, komisi (fee), dan periode penugasan;
       dan
       In the case of a supporting profession of the capital
       market that provides services in a periodical manner
       to the Issuer or the Public Company, information
       about services provided, commissions (fees), and
       assignment period is disclosed; and
 19.   Penghargaan dan/atau sertifikasi yang diterima                                                                                            12, 50,
       Emiten atau Perusahaan Publik baik yang berskala                                                                                         54-55
       nasional maupun internasional dalam tahun buku
       terakhir ( jika ada),
       Awards and / or certifications accepted by the Issuer
       or the Public Company both national scale and
       international in the last financial year (If any)




266                            Ikhtisar Utama                      Laporan Manajemen                 Profil Perusahaan   Analisa & Pembahasan Manajemen
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  No.                         Kriteria                                                                   Penjelasan                                                                Halaman
                              Criteria                                                                   Description                                                                Page

        Analisa & Pembahasan Manajemen atas Kinerja Perusahaan | Management Discussion & Analysis on Company’s Performance

  1.    Tinjauan operasi per segmen operasi sesuai dengan             Mengenai:                                               Concerning:                                           44-51
        jenis industri Emiten atau Perusahaan Publik;                 a)    Pro d u ks i , ya n g m e l i p u t i p ro s e s , a)    Production, which includes process,            98-101
        Operational review per operating segment according                   kapasitas, dan perkembangannya;                         capacity and its development;
        to the type of industries of the Issuer or Public             b)    Pendapatan / penjualan; dan                       b)     Revenue / sales; and
        Company;                                                      c)    Profitabilitas;                                    c)     Profitability
        Kinerja keuangan komprehensif yang mencakup                   Mencakup antara lain :                                  Includes among others:                                76-78,
  2.    perbandingan kinerja keuangan dalam 2 (dua) tahun             a)    Kepemilikan institusi lokal;                      a)     Ownership of the local institutions;          102-109
        buku terakhir, penjelasan tentang penyebab adanya             b)    Kepemilikan institusi asing;                      b)     Ownership of the foreign institutions;
        perubahan dan dampak perubahan tersebut.                      c)    Kepemilikan individu lokal; dan                   c)     Ownership of the local individual; and
        Comprehensive financial performance includes a                 d)    Kepemilikan individu asing;                       d)     Ownership of the foreign individuals;
        comparison of financial performance in the last 2
        (two) financial years, an explanation of the cause of
        existence changes and impacts of change.
  3.    Kemampuan membayar utang dengan menyajikan                                                                                                                                   107
        perhitungan rasio yang relevan;
        Ability to pay debts by presenting relevant ratio
        calculations;
  4.    Tingkat kolektibilitas piutang Emiten atau                                                                                                                                   108
        Perusahaan Publik dengan menyajikan perhitungan
        rasio yang relevan;
        Collectability of the Issuer or receivables of the Public
        Company by presenting relevant ratio calculation.
  5.    Struktur modal (capital structure) dan kebijakan                                                                                                                             108,
        manajemen atas struktur modal (capital structure)                                                                                                                          112-113
        tersebut disertai dasar penentuan kebijakan
        dimaksud;
        Capital structure and management policy on capital
        structure (capital structure) accompanied by the
        basis determination of the said policy;
  6.    Bahasan mengenai ikatan yang material untuk                   Penjelasan paling sedikit meliputi:                     At least explanation includes:                         109
        investasi barang modal;                                       a) tujuan dari ikatan tersebut;                         a) the purpose of the commitment;
        Discussion on material commitment for capital goods           b) sumber dana yang diharapkan untuk b) the expected source of funds to fulfill the
        investment;                                                        memenuhi ikatan tersebut;                                said bond;
                                                                      c) mata uang yang menjadi denominasi; dan               c) the currency that becomes denomination; and
                                                                      d) langkah yang direncanakan Emiten atau d) steps planned by the Issuer or the Public
                                                                           Perusahaan Publik untuk melindungi                       Company to mitigate the risk from foreign
                                                                           risiko dari posisi mata uang asing yang                  currency position;
                                                                           terkait;
  7.    Bahasan mengenai investasi barang modal yang                  Meliputi:                                               Includes:                                              114
        direalisasikan dalam tahun buku terakhir;                     a) Jenis investasi barang modal;                        a) Type of capital goods investment;
        Discussion on capital goods investment which is               b) Tujuan investasi barang modal; dan                   b) The purpose of investing in capital goods;
        realized in the latest financial year;                         c) Nilai investasi barang modal yang                          and
                                                                           dikeluarkan;                                       c) Value of investment in capital goods issued:
  8.    Informasi & fakta material yang terjadi setelah                                                                                                                              114
        tanggal laporan akuntan ( jika ada);
        Information & material facts that occurred after the
        date of the accountant's report (if any);
  9.    Prospek usaha dari Emiten atau Perusahaan Publik                                                                                                                           115-116
        dikaitkan dengan kondisi industri, ekonomi secara
        umum dan pasar internasional diser tai data
        pendukung kuantitatif dari sumber data yang layak
        dipercaya;
        Business prospects of the Issuer or the Public
        Company that is associated with industrial
        conditions, the economy in general and international
        markets accompanied by quantitative data
        supported from trustworthy sources;


         Tata Kelola Perusahaan                     Tanggung Jawab Sosial Perusahaan                             Referensi                                   Laporan Keuangan                267
         Corporate Governance                         Corporate Social Responsibility                           References                                  Financial Statements               6
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No.                             Kriteria                                                                             Penjelasan                                                                   Halaman
                                Criteria                                                                             Description                                                                   Page

 10.   Perbandingan antara target/proyeksi pada awal                                                                                                                                                  114
       tahun buku dengan hasil yang dicapai (realisasi).
       Comparison between target / projection in the
       beginning of the financial year and the achieved
       results (realization).
 11.   Target/proyeksi yang ingin dicapai Emiten atau                                                                                                                                                 109
       Perusahaan Publik untuk 1 (satu) tahun mendatang;
       The target / projection that the Issuer or the Public
       Company wants to achieve for 1 (one) coming year;
 12.   Aspek pemasaran atas barang dan/ atau jasa Emiten                                                                                                                                             88-95
       atau Perusahaan Publik, paling sedikit mengenai
       strategi pemasaran dan pangsa pasar;
       Marketing aspects of goods and / or services of the
       Issuer or Public Company, at the very least about the
       marketing strategies and market share;
 13.   Uraian mengenai dividen selama 2 (dua) tahun buku                            Mengenai:                                                About:                                                    4, 9
       terakhir ( jika ada)                                                         a)    Pendapatan/penjualan;                              a)   Income / sales;
       Description of the dividends in the last 2 (two)                             b)    Laba (rugi);                                       b)   Profit (loss);
       financial years (if any)                                                      c)    Struktur modal (capital structure);                c)   Capital structure (capital structure);
                                                                                    d)    Kebijakan dividen; atau                            d)   Dividend policy; or
                                                                                    e)    Hal lainnya yang dianggap penting bagi             e)   Other things considered important for
                                                                                          Emiten atau Perusahaan Publik;                          the Issuer or Public Company
 14.   Realisasi penggunaan dana hasil Penawaran Umum                               Memuat :                                                 Consists of:                                           112-113,
       Realization of the use of the IPO Proceeds                                   a) Kebijakan dividen;                                    a)   Dividend policy;                                    134
                                                                                    b) Ta n g g a l p e m b a ya ra n d i v i d e n ka s     b)   Date of the dividend payment and / or
                                                                                         dan/atau tanggal distribusi dividen non                  the distribution date of the non-cash
                                                                                         kas;                                                     dividends;
                                                                                    c) Jumlah dividen per saham (kas dan/atau                c)   Total dividends per share (cash and / or
                                                                                         non kas); dan                                            non-cash); and d) Amount of paid
                                                                                    d) Jumlah dividen per tahun yang dibayar;                     dividends in a year
                                                                                    Memuat:                                                  Consists of:
                                                                                    a) Dalam hal selama tahun buku, Emiten                   a)   During the financial year, the Issuer has
                                                                                         memiliki kewajiban menyampaikan                          the obligation to submit a realization
                                                                                         laporan realisasi penggunaan dana, maka                  report of the use of funds, then disclosed
                                                                                         diungkapkan realisasi penggunaan dana                    the realized cumulative use of IPO
                                                                                         hasil Penawaran Umum secara kumulatif                    proceeds up to the end of the fiscal year;
                                                                                         sampai dengan akhir tahun buku; dan                      and
                                                                                    b) Dalam hal terdapat perubahan peng-                    b)   In the event of a change in the use of
                                                                                         gunaan dana sebagaimana diatur dalam                     funds as regulated in the Authority
                                                                                         Peraturan Otoritas Jasa Keuangan                         Financial Services Regulations about
                                                                                         tentang Laporan Realisasi Penggunaan                     Realization Report on the Use of Funds
                                                                                         Dana Hasil Penawaran Umum, maka                          Results from the Public Offering, in that
                                                                                         Emiten menjelaskan perubahan tersebut.                   case, the Issuer explains the changes.
 15.   Informasi material ( jika ada), antara lain mengenai                         Memuat:                                                  Consists of:                                             115
       investasi, ekspansi, divestasi, penggabungan                                 a)    Tanggal, nilai, dan objek transaksi;               a)   Date, value, and the transaction objects;
       /p e l e b u ra n u s a h a , a k u i s i s i , re st r u kt u r i s a s i   b)    Nama pihak yang melakukan transaksi;               b)   Name of the parties conducting the
       utang/modal, transaksi Afiliasi, dan transaksi yang                           c)    Sifat hubungan Afiliasi ( jika ada);                     transaction;
       mengandung benturan kepentingan, yang terjadi                                d)    Pe n j e l a s a n m e n g e n a i kewa j a ra n   c)   Nature of the Affiliate relationship (if
       pada tahun buku;                                                                   transaksi; dan                                          any);
       Material information (if any), among others regarding                        e)    Pemenuhan ketentuan terkait;                       d)   Explanation of reasonableness of the
       investment, expansion, divestment, business                                                                                                transaction; and e) Compliance with
       merger/acquisition, acquisition, debt / capital                                                                                            relevant provisions;
       restructuring, affiliates transactions, and
       transactions that involve a conflict of interest, which
       happened in the fiscal year;




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  No.                        Kriteria                                                             Penjelasan                                                                  Halaman
                             Criteria                                                             Description                                                                  Page

  16.   Perubahan ketentuan peraturan perundang-                                                                                                                                 114
        undangan yang berpengaruh signifikan terhadap
        Emiten atau Perusahaan Publik dan dampaknya
        terhadap laporan keuangan ( jika ada); dan
        Changes in the regulatory provisions that influence
        the legislation significant to the Issuer or Public
        Company and its impact on the financial statements
        (if any); and
  17.   Perubahan kebijakan akuntansi, alasan dan                                                                                                                                114
        dampaknya terhadap laporan keuangan ( jika ada);
        Changes in accounting policies, reasons and the
        impact on financial statements (If any);




                                                         Tata Kelola Perusahaan | Good Corporate Governance

  1.    Direksi                                                    Mencakup antara lain:                               Includes among others:                                  147-160
        Board of Directors                                         a)   Tugas dan tanggung jawab masing-               a) Duties and responsibilities each member of the
                                                                        masing anggota Direksi;                           Board of Directors;
                                                                   b)   Pernyataan bahwa Direksi memiliki              b) Statement that the Board of Directors has a
                                                                        pedoman atau piagam (charter) Direksi;            Directors’ guideline or charter (charter);
                                                                   c)   Prosedur, dasar penetapan, struktur and        c) Procedures, basis for the stipulation, structure
                                                                        besarnya remunerasi masing-masing                 and magnitude of the remuneration of each
                                                                        anggota Direksi, serta hubungan antara            member of the Board of Directors, as well as the
                                                                        remunerasi dengan kinerja Emiten atau             relationship between remuneration and the
                                                                        Perusahaan Publik;                                performance of the Issuer or the Public
                                                                   d)   Kebijakan dan pelaksanaan tentang                 Company;
                                                                        frekuensi rapat Direksi, termasuk rapat        d) Policy and implementation of the frequency of
                                                                        bersama Dewan Komisaris, dan tingkat              the Board of Directors meetings, including joint
                                                                        kehadiran anggota Direksi dalam rapat             meetings with the Board Commissioners and
                                                                        tersebut;                                         the attendance rate of the members of the
                                                                   e)   Informasi mengenai keputusan RUPS 1               Board of Directors in the said meeting;
                                                                        (satu) tahun sebelumnya, meliputi:             e) Information about the GMS’ decisions in the last
                                                                        (1) Keputusan RUPS yang direalisasi-              1 (one) year include:
                                                                             kan pada tahun buku; dan                     (1) A GMS decision realized in the fiscal year;
                                                                        (2) Alasan dalam hal terdapat keputusan               and
                                                                             yang belum direalisasikan;                   (2) Reasons in the event that there are
                                                                   f)   Informasi mengenai keputusan RUPS                     decisions that haven’t been realized;
                                                                        pada tahun buku, meliputi:                     f) Information about decisions The GMS in the
                                                                        (1) Keputusan RUPS yang direalisasi-              financial year includes:
                                                                             kan pada tahun buku; dan                     (1) A GMS decision realized in the fiscal year;
                                                                        (2) Alasan dalam hal terdapat keputusan               and
                                                                             yang belum direalisasikan; dan               (2) Reasons in the event that there are decisions
                                                                   g)   Penilaian terhadap kinerja komite yang                that haven’t been realized; and
                                                                        mendukung pelaksanaan tugas Direksi;           g) Assessment of the per formance of the
                                                                                                                          committee that supports the Board of Directors’
                                                                                                                          duties;




          Tata Kelola Perusahaan                  Tanggung Jawab Sosial Perusahaan                         Referensi                                 Laporan Keuangan              269
          Corporate Governance                      Corporate Social Responsibility                       References                                Financial Statements             6
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No.                     Kriteria                                          Penjelasan                                                                     Halaman
                        Criteria                                          Description                                                                     Page

 2.   Dewan Komisaris                    Mencakup antara lain:                             Includes among others:                                          140-146
      Board of Commissioners             a) Tugas dan tanggung jawab Dewan a) Duties and responsibilities of the Board of
                                               Komisaris;                                       Commissioners;
                                         b) Pernyataan bahwa Dewan Komisaris b) Statement that the Board of Commissioners
                                               memiliki pedoman atau piagam (charter)           has a guideline or a charter;
                                               Dewan Komisaris;                            c) Procedures, basis for the stipulation,
                                         c) Prosedur, dasar penetapan, struktur, dan            structure, and magnitude of the
                                               besarnya remunerasi masing-masing                remuneration of each member of the Board
                                               anggota Dewan Komisaris;                         of Commissioners;
                                         d) Kebijakan dan pelaksanaan tentang d) Policy and implementation of the frequency
                                               frekuensi rapat Dewan Komisaris,                 of the Board of Commissioners meetings,
                                               termasuk rapat bersama Direksi, dan              including joint meetings with the Board
                                               tingkat kehadiran anggota Dewan                  Directors and the attendance rate of the
                                               Komisaris dalam rapat tersebut;                  members of the Board of Commissioners in
                                         e) Kebijakan Emiten atau Perusahaan Publik             the said meeting;
                                               tentang penilaian terhadap kinerja e) Policies of the Issuer or the Public Company
                                               anggota Direksi dan anggota Dewan                on the performance assessment of the
                                               Komisaris dan pelaksanaannya, paling             members of the Board of Directors and
                                               sedikit meliputi:                                Commissioners, and their implementation,
                                               (1) Prosedur pelaksanaan penilaian               which at least include:
                                                  kinerja;                                      (1) Implementation procedures of the
                                               (2) Kriteria yang digunakan; dan                 performance assessment;
                                               (3) Pihak yang melakukan penilaian;              (2) Criteria used; and
                                         f) Penilaian terhadap kinerja komite yang              (3) Parties who did the assessment;
                                               mendukung pelaksanaan tugas Dewan f) Performance assessment of the committee
                                               Komisaris; dan                                   that supports the duties of the Board of
                                         g) Dalam hal Dewan Komisaris tidak                     Commissioners; and
                                               membentuk Komite Nominasi dan g) In the case of the Board of Commissioners did
                                               Remunerasi, dimuat informasi paling              not form a Nomination and Remuneration
                                               sedikit mengenai:                                Committee, the least information containst:
                                               (1) Alasan tidak dibentuknya komite; dan         (1) Reasons of not forming the committee;
                                               (2) Prosedur nominasi dan remunerasi                 and
                                                   yang dilakukan dalam tahun buku;             (2) N o m i n a t i o n a n d r e m u n e r a t i o n
                                               (3) Dewan Pengawas Syariah, bagi                     procedures that have been carried out
                                                   (Emiten atau Perusahaan Publik yang              during the financial year;
                                                   menjalankan kegiatan usaha                   (3) Sharia Supervisory Board, for the Issuer
                                                   berdasarkan prinsip syariah                      or Public Company that are running
                                                   sebagaimana tertuang dalam                       business activities based on the sharia
                                                   anggaran dasar, paling sedikit                   principles as stated in the articles of
                                                   memuat:                                          association, at least contains:
                                                   a) Nama;                                         a) Name;
                                                   b) Tugas dan tanggungjawab Dewan                 b) Duties and responsibilities of the
                                                        Pengawas Syariah; dan                           Sharia Supervisory Board; and
                                                   c) Frekuensi dan cara pemberian                  c) Frequency and methods of giving
                                                        nasihat dan saran serta                         advices and suggestions, as well as
                                                        pengawasan pemenuhan Prinsip                    complete supervision of the Sharia
                                                        Syariah di Pasar Modal terhadap                 Principles in the Capital Market
                                                        Emiten atau Perusahaan Publik;                  toward the Issuer or the Public
                                                                                                        Company;
 3.   Komite Audit                       Mencakup antara lain:                             Includes among others:                                          165-172
      Audit Commitee                     a)     Nama dan jabatannya dalam ke- a)                 Name and position within the committee
                                                anggotaan komite;                                 membership;
                                         b)     Usia;                                      b)    Age;
                                         c)     Kewarganegaraan;                           c)    Citizenship;
                                         d)     Riwayat pendidikan;                        d)    Educational history;
                                         e)     Riwayat jabatan, meliputi informasi:       e)    Job history, including information:
                                                (1) Dasar hukum penunjukan sebagai               (1) Legal basis of appointment as a
                                                     anggota komite;                                    committee member;




270                     Ikhtisar Utama        Laporan Manajemen                           Profil Perusahaan                          Analisa & Pembahasan Manajemen
  6                       Highlights          Management Report                           Company Profile                            Management Discussion & Analysis
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Laporan Tahunan 2024



  No.                        Kriteria                                                           Penjelasan                                                                       Halaman
                             Criteria                                                           Description                                                                       Page

                                                                   (2) Rangkap jabatan, baik sebagai                   (2) Double positions, either as a member of
                                                                         anggota Dewan Komisaris, anggota                   the Board of Commissioners, a member of
                                                                         Direksi, dan/atau anggota komite                   the Board of Directors, and/or committee
                                                                         serta jabatan lainnya ( jika ada); dan             member and other positions (if there is);
                                                                   (3) Pengalaman kerja beserta periode                     and
                                                                         waktunya baik di dalam maupun di              (3) Work experience and period of time both
                                                                         luar Emiten atau Perusahaan Publik;                inside and outside the Issuer or Public
                                                                f) Periode dan masa jabatan anggota                         Company;
                                                                   Komite Audit;                                    f) Period and tenure of the Audit Committee
                                                                g) Pernyataan independensi Komite Audit;               members;
                                                                h) Kebijakan dan pelaksanaan tentang g) Statement of independence of the Audit
                                                                   frekuensi rapat Komite Audit dan tingkat            Committee;
                                                                   kehadiran anggota Komite Audit dalam h) Policy and implementation of the frequency of
                                                                   rapat tersebut;                                     the Audit Committee meetings and
                                                                I) Pendidikan dan/atau pelatihan yang telah            attendance rate of the Audit Committee
                                                                   diikuti dalam tahun buku ( jika ada);               members;
                                                                   dan                                              i) Education and / or training which have been
                                                                j) Pelaksanaan kegiatan Komite Audit pada              done in the fiscal year (if any); and
                                                                   t a h u n b u k u s e s u a i d e n g a n y a n g j) Implementation of the Audit Committee’s
                                                                   dicantumkan dalam pedoman atau                      activities in the financial year is appropriate for
                                                                   piagam (charter) Komite Audit;                      those listed in the guidelines or charter
                                                                                                                       (charter) of the Audit Committee
  4.    Komite lain yang dimiliki Emiten atau Perusahaan        Mencakup antara lain:                               Includes among others:                                        Tidak ada
        Publik dalam rangka mendukung fungsi dan tugas          a) N a m a d a n j a b a t a n n y a d a l a m k e - a) Name and position within the committee                      None
        Direksi dan/atau Dewan Komisaris, seperti Komite           anggotaan komite;                                   membership;
        Nominasi dan Remunerasi, mencakup antara lain:          b) Usia;                                            b) Age;
        Other committees owned by the Issuer or Public          c) Kewarganegaraan;                                 c) Citizenship;
        Company in order to support the functions and duties    d) Riwayat pendidikan;                              d) Educational history;
        of the Board of Directors and/or the Board of           e) Riwayat jabatan, meliputi informasi:             e) Job history, including information:
        Commissioners, such as the Nomination and                 (1) Dasar hukum penunjukan sebagai                   (1) L e g a l b a s i s o f a p p o i n t m e n t a s a
        Remuneration Committee, includes:                              anggota komite;                                      committee member;
                                                                  (2) Rangkap jabatan, baik sebagai                    (2) Double positions, either as a member of
                                                                       anggota Dewan Komisaris, anggota                     the Board Commissioners, members of
                                                                       Direksi, dan/atau anggota komite                     the Board of Directors, and/or committee
                                                                       serta jabatan lainnya ( jika ada); dan               member and other positions (if there is);
                                                                  (3) Pengalaman kerja beserta periode                      and
                                                                       waktunya baik di dalam maupun di                (3) Work experience and period of time both
                                                                       luar Emiten atau Perusahaan Publik;                  inside and outside the Issuer or Public
                                                                f) Periode dan masa jabatan anggota                         Company;
                                                                   komite;                                          f) Period and tenure of the committee member;
                                                                g) Uraian tugas dan tanggung jawab;                 g) Description of duties and responsibilities;
                                                                h) Pe r n ya t a a n b a h wa t e l a h m e m i l i k i h) Statement that it has a committee guideline or
                                                                   pedoman atau piagam (charter) komite;               charter (charter) committee;
                                                                i) Pernyataan independensi komite;                  i) Statement of independence of the committee;
                                                                j) Kebijakan dan pelaksanaan tentang j) Policy and implementation of the frequency of
                                                                   frekuensi rapat komite dan tingkat                  the committee meetings and the rate of
                                                                   kehadiran anggota komite dalam rapat                attendance of the committee members;
                                                                   tersebut;                                        k) Education and / or training which has been
                                                                k) Pendidikan dan/atau pelatihan yang telah            done in year book (if any); and
                                                                   diikuti dalam tahun buku ( jika ada); dan        l) A brief description of the implemented
                                                                l) Uraian singkat pelaksanaan kegiatan                 committee’s activities in the fiscal year;
                                                                   komite pada tahun buku;




          Tata Kelola Perusahaan              Tanggung Jawab Sosial Perusahaan                          Referensi                                   Laporan Keuangan                    271
          Corporate Governance                  Corporate Social Responsibility                        References                                  Financial Statements                   6
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No.                         Kriteria                                                               Penjelasan                                                                        Halaman
                            Criteria                                                               Description                                                                        Page

 5.   Sekretaris Perusahaan                                  Mencakup antara lain:                                         Includes among others:                                      174-183
      Corporate Secretary                                    a)    Nama;                                                   a)    Name;
                                                             b)    Domisili;                                               b)    Domicile;
                                                             c)    Riwayat jabatan, meliputi informasi:                    c)    Job history, including information:
                                                                   (1) Dasar hukum penunjukansebagai                             (1) Legal basis of appointment as
                                                                        Sekretaris Perusahaan; dan                                    Corporate Secretary; and
                                                                   (2) Pengalaman kerja beserta periode                          (2) Work experience and the period of
                                                                        waktunya baik di dalam maupun di                              time both inside and outside the
                                                                        luar Emiten atau Perusahaan Publik;                           Issuer or Public Company;
                                                             d)    Riwayat pendidikan;                                     d)    Educational history;
                                                             e)    Pendidikan dan/atau pelatihan yang diikuti              e)    Education and / or training that has been
                                                                   dalam tahun buku; dan                                         done in the financial year; and
                                                             f)    Uraian singkat pelaksanaan tugas                        f)    A brief description of the implementation
                                                                   Sekretaris Perusahaan pada tahun buku;                        regarding the duties of the Corporate
                                                                                                                                 Secretary in the financial year;
 6.   Audit Internal                                         Mencakup antara lain:                                         Includes among others:                                      184-187
      Internal Audit                                         a)    Nama kepala Unit Audit Internal;                        a)    Name of the Head of the Internal Audit
                                                             b)    Riwayat jabatan, meliputi informasi:                          Unit;
                                                                   (1) Dasar hukum penunjukan sebagai                      b)    Job history, including information:
                                                                        kepala Unit Audit Internal; dan                          (1) Legal basis of appointment as the
                                                                   (2) Pengalaman kerja beserta periode                               Head of the Internal Audit Unit; and
                                                                        waktunya baik di dalam maupun di                         (2) Work experience and the period of
                                                                        luar Emiten atau Perusahaan Publik;                           time both inside and outside the
                                                             c)    Kualifikasi atau sertifikasi sebagai profesi                         Issuer or Public Company;
                                                                   audit internal ( jika ada);                             c)    Qualifications or certifications as an
                                                             d)    Pendidikan dan/atau pelatihan yang diikuti                    internal audit profession (If there is);
                                                                   dalam tahun buku;                                       d)    Education and / or training that has been
                                                             e)    Struktur & kedudukan Unit Audit Internal;                     done in the financial year;
                                                             f)    Uraian tugas dan tanggung jawab;                        e)    Structure & position of the Internal Audit;
                                                             g)    Pe r n ya t a a n b a h wa t e l a h m e m i l i k i    f)    Description of duties and responsibilities;
                                                                   pedoman atau piagam (charter) Unit                      g)    Statement that it has an Internal Audit’s
                                                                   Audit Internal; dan                                           guideline or charter (charter); and
                                                             h)    Uraian singkat pelaksanaan tugas Unit                   h)    A brief description of the implemented
                                                                   Audit Internal pada tahun buku;                               duties of the Internal Audit Unit in the
                                                                                                                                 fiscal year;
 7.   Uraian mengenai sistem pengendalian internal           Mencakup antara lain:                                         Includes among others:                                      190-191
      (internal control) yang diterapkan oleh Emiten atau    a) Pengendalian keuangan dan operasional,                     a) Financial control and operations, and
      Perusahaan Publik                                           ser ta kepatuhan terhadap peraturan                           compliance with the other legislations; and
      Description of the internal control system (internal        perundang-undangan lainnya; dan                          b) Review of the effectiveness of the internal
      control) applied by the Issuer or the Public Company   b) Tinjauan atas efektivitas sistem pengen-                        control system;
                                                                  dalian internal;
 8.   Sistem manajemen risiko yang diterapkan oleh           Mencakup antara lain:                                         Includes among others:                                      192-195
      Emiten atau Perusahaan Publik                          a) G a m b a ra n u m u m m e n g e n a i s i st e m          a) General description of the Issuer or the
      The risk management system applied by the Issuer or         manajemen risiko Emiten atau Perusahaan                       Public Company's risk management
      the Public Company                                          Publik;                                                       system;
                                                             b) Jenis risiko dan cara pengelolaannya; dan                  b) Types of risks and management methods;
                                                             c) Tinjauan atas efektivitas sistem manajemen                      and
                                                                  risiko Emiten atau Perusahaan Publik.                    c) Review of the Issuer or the Public
                                                                                                                                Company’s risk management effectiveness.
 9.   Perkara penting yang dihadapi oleh Emiten atau         Mencakup antara lain:                                         Includes among others:                                        196
      Perusahaan Publik, entitas anak, anggota Direksi dan   a) Pokok perkara/gugatan;                                     a) Principal case / claim;
      anggota Dewan Komisaris ( jika ada)                    b) Status penyelesaian perkara/gugatan; dan                   b) Case settlement status / claim;and
      Important case faced by the Issuer or the Public       c) Pengaruhnya terhadap kondisi Emiten atau                   c) Impact on conditions of the Issuer or Public
      Company, subsidiaries, members of the Board of              Perusahaan Publik;                                            Company;
      Directors and Board of Commissioners (if any)




272                       Ikhtisar Utama                          Laporan Manajemen                                       Profil Perusahaan                      Analisa & Pembahasan Manajemen
  6                         Highlights                            Management Report                                       Company Profile                        Management Discussion & Analysis
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Laporan Tahunan 2024



  No.                             Kriteria                                                                 Penjelasan                                                               Halaman
                                  Criteria                                                                 Description                                                               Page

  10.   Informasi tentang sanksi administratif yang                                                                                                                                   196
        dikenakan kepada Emiten atau Perusahaan Publik,
        anggota Dewan Komisaris dan Direksi, oleh otoritas
        Pasar Modal dan otoritas lainnya pada tahun buku
        ( jika ada);
        Information about administrative sanctions imposed
        on the Issuer or Public Company, members of the
        Board of Commissioners and Directors, by the
        Capital Market authorities and other authorities in the
        financial year (if any);
  11.   Uraian mengenai program kepemilikan saham oleh              Mengenai:                                                      Concerning:                                      Tidak ada
        karyawan dan/atau manajemen yang dilaksanakan               a) Jumlah saham dan/atau opsi;                                 a) Number of shares and / or options;              None
        Emiten atau Perusahaan Publik (jika ada),                   b) Jangka waktu pelaksanaan;                                   b) Implementation period;
        Description of the employees and/ or management             c) Persyaratan karyawan dan/atau                               c) Requirements for employees and / or the
        stock ownership program                                         manajemen yang berhak; dan                                    management that are entitled; and
        implemented by the Issuer or Public Company (if any)        d) Harga pelaksanaan;                                          d) Exercise Price;
  12.   Uraian mengenai sistem pelaporan pelanggaran                Meliputi:                                                      Includes:                                        200-205
        (whistleblowing system) di Emiten atau Perusahaan           a) Cara penyampaian laporan pelanggaran;                       a) How to submit violation reports;
        Publik ( jika ada),                                         b) Perlindungan bagi pelapor;                                  b) Protection for the informants;
        Description of the whistleblowing system in the             c) Penanganan pengaduan;                                       c) Complaint handling;
        Issuer or Public Company (if any),                          d) Pihak yang mengelola pengaduan; dan                         d) The party that manages its complaints; and
                                                                    e) Hasil dari penanganan pengaduan, paling                     e) Results of the handling of complaints, at
                                                                        sedikit meliputi:                                             least include:
                                                                        (1) Jumlah pengaduan yang masuk dan                           (1) Number of complaints submitted and
                                                                            diproses dalam tahun buku; dan                                proceeded during the fiscal year; and
                                                                        (2) Tindak lanjut pengaduan;                                  (2) Follow up of the complaints;
                                                                                                                                   Includes:
  13.   Penerapan atas Pedoman Tata Kelola Perusahaan               Meliputi:                                                      a) Statement of recommendations that have        206-218
        Terbuka bagi Emiten atau Perusahaan Publik yang             a) Pernyataan mengenai rekomendasi yang                           been implemented; and / or
        menerbitkan Efek Bersifat Ekuitas                               telah dilaksanakan; dan/atau                               b) Explanation of recommendations that have
        Implementation of the Corporate Governance by an            b) Penjelasan atas rekomendasi yang belum                         not been implemented, along with the
        Issuer or a Public Company that issues Equity                   dilaksanakan, disertai alasan dan alternatif                  reasons and alternative implementations (if
                                                                        pelaksanaannya ( jika ada);                                   any);
  14.   Informasi mengenai tanggung jawab sosial dan                Mencakup :                                                     Includes:                                        231-235
        lingkungan Emiten atau Perusahaan Publik meliputi           a) Lingkungan hidup, antara lain:                              a) The environment, includes:
        kebijakan, jenis program, dan biaya yang dikeluarkan            (1) Penggunaan material dan energi yang                       (1) Use of materials and environmentally
        Information regarding social and environmental                       ramah lingkungan dan dapat didaur                            friendly energy that can be recycled;
        responsibility of the Issuer or Public Company                       ulang;                                                   (2) Waste treatment system of the Issuer
        including policies, type of programs, and the costs             (2) Sistem pengolahan limbah Emiten atau                          or the Public Company;
        spent                                                                Perusahaan Publik;                                       (3) Complaint mechanism regarding
                                                                        (3) Mekanisme pengaduan masalah                                   environmental problems; and
                                                                             lingkungan; dan                                          (4) Certifications in the environmental field
                                                                        (4) Sertifikasi di bidang lingkungan yang                          which are owned;
                                                                             dimiliki;
                                                                    b) Praktik ketenagakerjaan, kesehatan, dan                     b) Labor practices, health and safety work,      236-248
                                                                        keselamatan kerja, antara lain:                               include:
                                                                        (1) Kesetaraan gender & kesempatan                            (1) Gender equality and employment
                                                                             kerja;                                                       opportunities;
                                                                        (2) Sarana dan keselamatan kerja;                             (2) Work facilities and safety;
                                                                        (3) T i n g ka t p e r p i n d a h a n ( t u r n ove r )      (3) Turnover rate of the employees;
                                                                             karyawan;                                                (4) Work accident rate;
                                                                        (4) Tingkat kecelakaan kerja;                                 (5) Education and/or training;
                                                                        (5) Pendidikan dan/atau pelatihan;                            (6) Remuneration; and
                                                                        (6) Remunerasi; dan                                           (7) Complaint mechanism involving labor
                                                                        (7) Mekanisme pengaduan masalah                                   issues;
                                                                             ketenagakerjaan;




            Tata Kelola Perusahaan                  Tanggung Jawab Sosial Perusahaan                                Referensi                                Laporan Keuangan                273
            Corporate Governance                      Corporate Social Responsibility                              References                               Financial Statements               6
Page 282
                                                                                                                                                         2024 Annual Report



No.                           Kriteria                                                         Penjelasan                                                                          Halaman
                              Criteria                                                         Description                                                                          Page

                                                                 c) Pengembangan sosial dan kemasyarakatan, c) Social community development, includes:                              249-256
                                                                   antara lain:                                      (1) Use of local labor;
                                                                   (1) Penggunaan tenaga kerja lokal;                (2) Empowering the community around the
                                                                   (2) Pemberdayaan masyarakat sekitar                    Issuer or the Public Company, through
                                                                       Emiten atau Perusahaan Publik antara               the use of raw materials produced by the
                                                                       lain melalui penggunaan bahan baku                 community or providing education;
                                                                       yang dihasilkan oleh masyarakat atau          (3) R e p a i r o f f a c i l i t i e s a n d s o c i a l
                                                                       pemberian edukasi;                                 infrastructure;
                                                                   (3) Perbaikan sarana dan prasarana sosial;        (4) Other forms of donations; and
                                                                   (4) Bentuk donasi lainnya; dan                    (5) Communication regarding policies and
                                                                   (5) Komunikasi mengenai kebijakan dan                  anti corruption procedures in the Issuer
                                                                       prosedur anti korupsi di Emiten atau               or the Public Company, as well as anti
                                                                       Perusahaan Publik, serta pelatihan                 corruption training (if any);
                                                                       mengenai anti korupsi ( jika ada);
                                                                 d) Tanggung jawab barang dan/atau jasa, d) Responsibility for goods and / or services,                             257-258
                                                                   antara lain:                                      includes:
                                                                   (1) Kesehatan dan keselamatan konsumen;           (1) Health and safety of the consumers;
                                                                   (2) Informasi barang dan/atau jasa; dan           (2) Information on goods and/or services; and
                                                                   (3) Sarana, jumlah, dan penanggulangan            (3) Means, amounts and upper countermeasures
                                                                       atas pengaduan konsumen.                          regarding the consumer complaints.
 15.   Laporan Keberlanjutan sebagaimana dimaksud pada                                                                                                                           Memiliki Laporan
       harus disusun sesuai Pedoman Teknis Penyusunan                                                                                                                             Keberlanjutan
       Laporan Keberlanjutan (Sustainability Report) Bagi                                                                                                                             Have
       Emiten dan Perusahaan Publik merupakan bagian                                                                                                                             a Sustainability
       tidak terpisahkan dari Surat Edaran Otoritas Jasa                                                                                                                             Report
       Keuangan ini;
       The Sustainability Report referred to in must be
       prepared in accordance with the Technical Guidelines
       for Preparing Sustainability Reports for Issuers and
       Public Companies, which is an integral part of this
       Financial Services Authority Circular Letter;
 16.   Laporan keuangan tahunan yang dimuat dalam Laporan                                                                                                                             Bab 8
       Tahunan disusun sesuai dengan standar akuntansi                                                                                                                           Laporan Tahunan
       keuangan di Indonesia dan telah diaudit oleh akuntan                                                                                                                         Chapter 8
       publik yang terdaftar di Otoritas Jasa Keuangan.                                                                                                                           Annual Report
       The annual financial statements included in the Annual
       Report are prepared in accordance with Indonesian
       financial accounting standards and have been audited
       by a public accountant registered with the Financial
       Services Authority.
 17.   Surat Pernyataan Anggota Direksi dan Anggota Dewan                                                                                                                             Bab 8
       Komisaris tentang Tanggung Jawab atas Laporan                                                                                                                             Laporan Tahunan
       Tahunan Surat pernyataan anggota Direksi dan anggota                                                                                                                         Chapter 8
       Dewan Komisaris tentang tanggung jawab atas                                                                                                                                Annual Report
       Laporan Tahunan disusun sesuai dengan format Surat
       Pernyataan Anggota Direksi dan Anggota Dewan
       Komisaris tentang Tanggung Jawab atas Laporan
       Tahunan.
       Statements of Members of the Board of Directors and
       Members of the Board of Commissioners regarding
       Responsibility for the Annual Report Statements of
       members of the Board of Directors and members of the
       Board of Commissioners regarding responsibility for the
       Annual Report are prepared according to the format of
       Statement of Members of the Board of Directors and
       Members of the Board of Commissioners concerning
       Responsibility for Annual Reports.




274                          Ikhtisar Utama                        Laporan Manajemen                            Profil Perusahaan                          Analisa & Pembahasan Manajemen
  6                            Highlights                          Management Report                            Company Profile                            Management Discussion & Analysis
Page 283
Laporan Tahunan 2024




       Tata Kelola Perusahaan   Tanggung Jawab Sosial Perusahaan     Referensi    Laporan Keuangan      275
       Corporate Governance       Corporate Social Responsibility   References   Financial Statements     8
Page 284
                                                                                                                                           2024 Annual Report




           Surat Pernyataan Anggota Dewan Komisaris & Direksi Tentang Tanggung Jawab
                 Atas Laporan Tahunan 2024 PT Steel Pipe Industry of Indonesia Tbk
          The Board of Commissioners’ & The Board of Directors’ Statement of Responsibility
                for the 2024 Annual Report of PT Steel Pipe Industry of Indonesia Tbk
 Kami yang bertanda tangan di bawah ini menyatakan bahwa semua informasi                   We, the undersigned, hereby declare that all the information in the 2024
 dalam Laporan Tahunan PT Steel Pipe Industry of Indonesia Tbk / SPINDO                    Annual Report of PT Steel Pipe Industry of Indonesia Tbk / SPINDO have been
 tahun 2024 telah dimuat secara lengkap dan bertanggung jawab penuh atas                   presented completely and we are thus fully responsible for the contents in this
 kebenaran isi Laporan Tahunan dan Laporan Keuangan Perusahaan.                            Annual Report and Financial Report of the Company.



 Demikian pernyataan ini dibuat dengan sebenarnya.                                         This statement is made in truthfully.

 Surabaya, April 2025                                                                      Surabaya, April 2025




                        DEWAN KOMISARIS | BOARD OF COMMISSIONERS




                                                                           MAKMUR WIDJAJA
                                                                Komisaris Utama | President Commissioner
                                                             Komisaris Independen | Independent Commissioner




      ENTARIO WIDJAJA SUSANTO                                     BING HARTONO POERNOMOSIDI                                              WELLY TANTONO
           Komisaris | Commissioner                            Komisaris Independen | Independent Commissioner               Komisaris Independen | Independent Commissioner




                                               DIREKSI | BOARD OF DIRECTORS




                                           IBNU SUSANTO                                                 TEDJA SUKMANA HUDIANTO
                                     Direktur Utama | President Director                             Wakil Direktur Utama | Vice-President Director




      SOEDIARTO SOERJOPRAHONO                                              THE, HANNY PURNOMO                                            NICO GUNAWAN
               Direktur | Director                                             Direktur | Director                                          Direktur | Director


276                       Ikhtisar Utama                         Laporan Manajemen                        Profil Perusahaan                 Analisa & Pembahasan Manajemen
  8                         Highlights                           Management Report                        Company Profile                   Management Discussion & Analysis
Page 285
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk
DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARY

LAPORAN KEUANGAN KONSOLIDASIAN/
CONSOLIDATED FINANCIAL STATEMENTS
Pada dan Untuk Tahun yang Berakhir Tanggal
31 Desember 2024/
As of and For the Year Ended December 31, 2024

dan/and

LAPORAN AUDITOR INDEPENDEN/INDEPENDENT AUDITORS’ REPORT
Page 286
                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk
                               DAN ENTITAS ANAKNYA/AND ITS SUBSIDIARY


Daftar Isi                                                                                           Table of Contents

                                                   Halaman/Page

Surat Pernyataan Direksi                                                                    Director’s Statement Letter

Laporan Auditor Independen                                                               Independent Auditors’ Report

Laporan Keuangan Konsolidasian                                                     Consolidated Financial Statetement
  Pada dan Untuk Tahun yang Berakhir Tanggal
  31 Desember 2024                                                  As of and For the Year Ended December 31, 2024

  Laporan Posisi Keuangan Konsolidasian               1–3              Consolidated Statement of Financial Position

  Laporan Laba Rugi dan Penghasilan Komprehensif                  Consolidated Statement of Profit or Loss and Other
    Lain Konsolidasian                                4–5                                 Comprehensive Income

  Laporan Perubahan Ekuitas Konsolidasian             6–7               Consolidated Statement of Changes in Equity

  Laporan Arus Kas Konsolidasian                      8–9                     Consolidated Statement of Cash Flows

  Catatan atas Laporan Keuangan Konsolidasian        10 – 119        Notes to the Consolidated Financial Statements

  Informasi Tambahan                                120 – 126                            Supplementary Information
Page 287
                               SPINDO Head Office
                               Jt. Katibutuh 1 89 - 1 91, Surabaya 601 73, East Java, lndonesia
 SPi-NDO                       Phone :+6231 5320320
                               Fax :+6231 5320290
                               Emai[ :marketing@spindo.co.id
                               Website :www.spindo.com


                   ST]RAT PERNYATAAN DIREKSI                                                          DIRECTORS' STATEMENT
                 TENTANG TANGGUNG JAWAB ATAS                                                    REGARDING THE RESPONSIBILITY FOR
               LAPORAN KEUANGAN KONSOLDASIAN                                                 THE CONSO LIDATED FINANCAL STATEMENTS
                 PADA TANGGAL 31 DESEMBER 2024                                                       AS OF 31 DECEMBER 2024
               SERTA UNTUK TAHUN YANG BERAKHIR                                                    AND FOR THE YEAR THEN ENDED
                    PADA TANGGAL TERSEBUT
                                                                                                                                       i

           PT STEEL PIPE INDUSTRY OF INDONESIA TbK                                           PT STEEL PIPE INDUSTRY OF INDONESIA TbK
                              DAN ENTITAS ANAK                                                               AND SABSIDIARY
                                                Kami yang bertandatangan dibawah inl We, the undersigned

         NarralName                                                                            Ibnu Susanto                            I




         Alamat Kantor I Office adr e s s                                                      Jalan Pangeran Jayakarta 55,Jakarta
         Alamat Domisilt/ Domiciled at                                                         Jalan Taman Golf Timur 1,8.1,25 Jakarta
         Jabatan/Title                                                                         Direktur Utam al President Dire ct or

         Nama/Name                                                                             Tedja Sukmana Hudianto
         Alamat Kantor/ Offi c e adre s s                                                      Jalan kalibutuh 189-191, Surabaya

         Alamat Domisih/ D orniciled at                                                        Jalan Iman Bonjol 122, Surabaya

         labatanlTitle                                                                         Wakil Direktur Ututa/ Represent of President Director


                                                                menyatakan b ahw a/ c e rt ifl t hat :

         1. Kami Bertanggungjarvab atas penyusunan dan penyajian laporan                 1.    We take the responsibility for the compilation and
              keuangan konsolidasian PT Steel Pipe Industry of Indonesia Tbk                   presentation of The Consolidatedfinancial statements of
              dan Entitas Anak.                                                                PT Steel Pipe Industry oflndonesia Tbk and Subsidiary.
        2. Laporan keuangan konsolidasian Entitas telah disusun dan                            The Entity's consolidatedfinancial Statements haye been
              disajikan sesuai dengan Standar Akuntansi Keuangan di Indonesia                  prepared and presented in accordance with the Indonesian
                                                                                               Financ i a I A cc ount in g S t anclards.
        3. a. Semua informasi material dalam laporan keuangan                            J     a All nnterial information has beenfully and correctly
                  konsolidasian Entitas telah dimuat secara lengkap dan benar.                     disclosed in The Enlity's Consolidated Financial
                                                                                                   Statements.
              b. Laporan keuangan konsolidasian Entitas tidak mengandung                       b. The Entity's Consolidatedfinancial statements do not
                 informasi atau fakta material yang tidak benar, dan tidak                         contain any improper material information or fact
                 menghilangkan informasi atau fakta material;                                      and, do not omit any material information orfact;
         4.   Kami beftanggung jawab atas sistem pengendalian intern dalam               4     We are responsible for the Entity internal control system.
              Entitas.

        Demikian pernyataan ini dibuat dengan sebenamya.                                This is our declaration,which has been made truthfully.


                                                           Surabaya, 14 Maret 2025lMarch 14, 2025




                                                                         47AMX171174036

                                                Ibnu Susanto                                     Tedja Sukmana Hudianto
                                     Direktur Utama/ P res ident Direct or                        Wakil Direktur Utana/
                                                                                              Represent of President Director




SPINDO Jakarta Office                                                        SPINDO Karawang (SKF)
Cedung Baja Lt. 7                                                            Kawasan lndustri Mitrakarawang, Jt. Mitra Raya 2 Btok F2,
Jt. Pangeran Jayakarta 55, Jakarta 10730, lndonesia                          Desa Parangmulya, Karawang 41351, Jawa Barat, lndonesia
Phone :+6221 6231 3502                                                       Phone :+62267 440823
Fax :+6221 6240313                                                           Fax :+62267 440587
Emai[ :marketing.sjo@spindo.co.id                                            Emai[ :marketing.skF@spindo.co.id
Page 288
              Nexia                                                                           XANAKA PURADINEI':'4, SUHARTONO
                                                                                              Branch Jrkafia S.[.t.n
                                                                                              granch licence No. 1165/l(M.1/2017
              KPS                                                                            18 office Park Tower A, 20th floor
                                                                                             J[. T8. Simatup.ng No. 18. Pasar liljnqgu
                                                                                             Jekarta 12520 - Indon$i.
                                                                                             ?.62 - 27 240a?92 t,62 - z',t 22108299
                                                                                             E. offi.elE@nsaa.id




                       LAPORAN AUDITOR INDEPENDEN                                               TNOEPEIIOE T AUOTTORS' REPOR|



      Laporan No I 00063/3.0357 /A1.7/04/0717-3/1fr1t/2025 Repoft ttto : 00063/3.0357/AU.1/04/0111-3//1/II/2025

      Pemegang saham, Dewan Komisaris dan Direksi                              fhe Stockholdes, Eoad ofConnissbners and Diectots
      PT Steet Pipe Industry 0f Indonesia Tbk                               Pf            Pipe Industty 0f Indonesia fbk
                                                                                  'tuel
      0pini                                                                 0pinion

      Kami tetah mengaudit laporan keuangan PT Steet Pipe                   we have audited the consolidated financial statenents ol
      Industry oflndonesia Tbk dan entitas anaknya ("Grup"), yang           Pf Steel Pipe Industty of Indonesia fbk and its subsidiaies
      terdiri dari [aporan posisi keuangan konsotjdasian tanggaI            ("the 6roup") which conpise the consolidated statenent ol
      31 Desember 2024, sefta [aporan [aba rugi dan penghasitan             financial position as of Decenber 31, 2024 and the
      komprehensif lain konsolidasian, [aporan perubahan ekuitas            consolidated statement of profit or loss and othet
      konsotidasian, dan [aporan arus kas konsolidasian untuk              comprehensive incone, consolidated statenent of changes
      tahun buku yang berakhir pada tanggat tersebut, serta                in equity and consolidated statenent of cash flows for the
      catatan atas [aporan keuangan, termasuk informasi kebijakan          years ended and notes to the consoliddted financial
      akuntansi material.                                                  statenents, including a nateial accountiog policies
                                                                            infornation,

      Menurut opini kami, taporan keuangan konsotidasian                    In our opinion, the acconpaning consolidated financtal
      tertampir menyajikan secara wajar, datam semua hat yang               statements present fairty, in all nateial respects, the
      materiat, posisi keuanqan konsotidasian 6rup tanggat                  consolidated financial position of the 6roup as at
      31 Desember 2024, serta kinerja keuangan konsolidasian dan            Decenber 31, 2024, and its consolidated financial
      arus kas konsotidasiannya dan untuk tahun yang berakhir               petfornance and its consolidated cash flows fot the yeao
      pada tanggaL tersebut, sesuai dengan Standar Akuntansi                ended in accordance with lodonesian Financial Accounting
      Keuangan di Indonesia.                                                Standards.


      Basis opini                                                              Easis for 0pinion

      (ami metaksanakan audit kami berdasarkan Standar Audit                   We conducted our audit in accordance with Standards on
      yang ditetapkan oteh Institut Akuntan Pubtik lndonesia.               Auditing established by the Indonesian Institute of Celtified
       Tanggung jawab kami menurut Standar tersebut diuraikan               Public Accountdnts. Our responsibitities under those
       tebih tanjut datam paragraf Tanggung Jawab Auditor                   standards arc funher described in the Auditot's
      terhadap Audit atas Laporan Keuangan Konsotidasian pada               Responsibilities fot the Audit of the Consolidated Financial
       taporan kami. Kami independen terhadap Grup berdasarkan              Statenents paragraph of ou report. We are independent ol
       ketentuan etika yang relevan datam audit kami atas taporan           the Gtoup in accordance with the ethical requirenents thdt
       keuangan di Indonesia, dan kami tetah memenuhi tanggung              are relevant to our audit of the consolidated financial
      jawab etika lainnya berdasarkan ketentuan tersebut. Kami              statenents in Indonesia, and we have fulfilled our othel
      yakin bahwa bukti audit yang telah kami peroteh adatah                   ethical responsibitities in accordance with these
       cukup dan tepat untuk menyediakan suatu basis bagi opini                requirenents. we believe that the audit evidence we have
      kami.                                                                    obtained is sufficient and appropiate to provide a basis for
                                                                               our opinion,


      Hat Audit Utama                                                          Key Audit ltatters


      Ha[ audit utama adalah hat-hat yang, menurut pertimbangan                Key audit natters arc those natters that. in our professronal
      profesional kami, merupakan haI yang pating signifikan                judgnent, werc of nost significance io ou audit of the
      datam audit kami atas [aporan keuangan konsotidasian                     consolidated financial statenents of the cuffent peiod.
      periode kini. Hat-hat tersebut disampaikan dalam konteks                 fhese natters were addressed in the context of our audit ol
      audit kami atas [aporan keuangan konsotidasian secara                    the consolidated financial statenents as a whole, dnd in
      keseturuhan, dan datam merumuskan opini kamj atas [aporan                forning out opioion thercon, and we do not provide a
      keuangan terkait, kami tidak menyatakan suatu opini                      sepaDte opinion on these nattets.
      terpisah atas haI audit utama tersebut.




-   FoRr 11()r FrRMs

{E(u 05 - uxrs tuuonro}, suHmor !. idid nm ornr Lr.                .nr*,qrri    r.d r[nd\rnt n d. ri.tt ld.aeEr tri,L{ do6 @r i,.lir




I    Jakarta Pusrt            I    Jakarta Saret      I   Jakart. Sel.tan         I       x.dan          |      sur.b.va               I   Semarang   I
Page 289
Nexia                                                             KANAKA PURADIREDJA, SUHARTONO
KP5



Ha[ Audit Utama - Lanjutan                                     Key Aadit llatters - Continued


1. Penyisihan penurun nilai persediaan                         1, Allowance of impdirment of inventoies

   f4engacu Catatan 39 (untuk kebijakan akuntansi) dan            Refet to llote 39 (accounting policy) and Note 8 to the
   Catatan No 8 atas Laporan Keuangan Konsotidasian.              Co n s ol ida ted Fin a n cia I 5 ta ten e n t5.


   Grup tidak metakukan penyisihan untuk persediaan yang          fhe 6roup has not proided allowance fot slow-nonng
   [ambat pergerakannya.                                          inventory.

   Satdo persediaan Grup adatah sebesar Rp 3.519.974 juta         Inventory balance of the 6roup anounts to Rp 3,519,974
   pada tanggat 31 Desember 2024 (Catatan 8). Evatuasi            nillion after inpairment allowance as ol
   penitaian tersebut memertukan pertimbangan manajemen           qecenbet 31, 2024 (l'lote 8). fhe inpairnent evaluation
   datam menitai apakah nitai tercatat persediaan tidak           requtes nanagenentjudgnent in assessing whether the
   tebih tinggi dari nitai reatisasi bersihnya pada akhir         carring yatue of inventories is not higher than their net
   tahun. Setain itu, pertimbangan manajemen yang                 realizable value at year-end. Also, significant
   signifikan dipertukan datam menentukan penyisihan              nanagenent judgnent is requied in deternining the
   keusangan persediaan, karena hal ini didasarkan pada           inventory obsolescence allowance, asit is based on the
   penilaian manajemen terhadap riwayat dan prakiraan             nanagenent's assessnent of histoical and forecasted
   penjuatan persediaan, keusangan fisik barang dan faktor         sales of inventory. physical obsolescence and othet
   relevan tainnya. Perubahan asumsi ini         dapat            relevant factors. Changes to these assunptioos could
   menqakibatkan perubahan material pada nilai tercatat           result in a naterial change in the caft)/ing'/alue ol
   persediaan.                                                    inventory,

   Namun, l'lanajemen menekankan bahwa sifat produk pipa          However, the Managenent enphasizes that the nature ol
   baja, memil.iki produk yang berumur panjanq, tak lekang        the steel pipe product, has a long life pruduct tineless
   waktu bahkan hingga 10-50 tahun, dengan biaya                  even up to 10-50years, with iosignificant cleaning costs,
   pembersihan yang tidak signifikan.

   Lambatnya perputaran produk pipa baja tersebut                 fhe slow-noving steel pipes prcducts are caused by
   disebabkan oteh beberapa pengiriman produk pipa baja           sevenl shipnents of steel pipes products do not follow
   yang tidak mengikuti atur masuk pertama ketuar pertama         the flow of the first in first out physically due to urgent
   secara fisik karena adanya permintaan petanggan yang           custoners denand for steel pipes that nust be fulfilled
   mendesak akan pipa baja yang harus segera dipenuhi'            imnediately.

   Dengan demikian, Manajemen berkesimpulan bahwa                 Accordingly. the tlanagenent concludes that the steel
   produk pipa baja tersebut merupakan produk yang                pipe products is a slow-noling ptoduct and no
   bergerak [ambat, dan tidak pertu ditakukan penyisihan.         provisions to be nade necessarily,

   Ha[ ini penting bagi audit kami karena satdo p€rsediaan        fhis natter is significant to our audit since the inventory
   ada[ah mat€rjat bagi Grup, mencakup 42% dari totaI aset        balance is mateial to the 6roup, conprising 42% of the
   Grup dan memertukan pertimbangan manajemen yang                Group total assets and requires a significant nanagenent
   signifikan.                                                    judgnent.

   Bagaimana audit kami merespons haI audit utama                 How our audit addressed the key audit matter

       Kami tetah menitai perhitungan nitai reatisasi bersih           We have assessed nanagenent's calculations     of net
       persediaan yang ditakukan         oteh   manajemen              realizable value of inventoies based on a review ol
       berdasarkan penebahan penjuatan berikutnya                      subsequent sales after the end of the year,
       setelah akhir tahun.
       Kami tetah menguji perqerakan persediaan bahan                  We have tested noveneot ofBw nateial inventoies
       baku dengan memperoteh informasi dokumen utama                  by obtaining iofornation of pinary docunents
       yanq mendukung tanggat perotehan bahan baku dan                 suppoftlng the date of acquisition of raw nateials
       tanggaI pembuatan barang jadi berdasarkan sampet.               and the date of nanufactuing of the finished goods
                                                                       on a sample basis.
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Hat Audit Utama - Lanjutan                                      Key Aadit atters - Continued


       Kami tetah mempertimbangkan kecukupan                           We have considered the adeguacy of disclosures in
       pengungkapan datam taporan keuangan pada area ini               the financial statements in this area (l'lote 8).
       (Catatan 8).

2. Penyisihan Kerugian Kredit Ekspektasian atas Piutang         2. Allowance of Expeded Credit lots for Account
   lJsaha                                                          Receivable

   Pada tangga[ 31 Desember 2024, Grup mengakui piutang            At 1ecenber 31, 2024, the 6roup recogni,ed net trdde
   usaha bersih dari petanggan masing-masing sebesar               receivables fron customers of Rp 1,121,787 nillion after
   Rp 1.121.787 juta, setetah mengakui penyisihan kerugian         recognizing an allowance for expected crcdit losses (tcl)
   kredit ekspektasian sebesar Rp 49.676 juta per                  allowance of Rp 49,676 nillion as of 0ecenber 2024.
   31 Desember 2024.

   Grup mengembangkan modet perhitungan penyisihan                 fhe Group developed a nodel for calculation of the
   kerugian kredit ekspektasian dengan menerapkan                  expected credit loss allowance by apptying the sinplihed
   pendekatan yang disederhanakan berdasarkan PSAK 109-            approach under PSAK 109 financial Instrunents and -
   Instrumen (euangan dan - oteh karena itu - mengukur             accordingly - neasures the ECL allowance at an anount
   penyisihan kerugian kredit ekspektasian sebesar jumtah          equal to the lifetine expected credit lotses ("tcl") ofall
   kerugian kredit ekspektasian seumur hjdup ("ECL") dari          tade receivables.
   seturuh piutang usaha.

   Kerugian kredit ekspektasian seumur hidup didasarkan            Lifetine tCL are based on probability weighted cash flows
   pada arus kas tertimbang probabilitas dengan                    consideing a range of possible outcones and
   mempertimbangkan serangkaian kemungkinan hasit dan              discounting these cash flows at the origina/ effective
   mendiskontokan arus kas ini pada suku bunga efektif             interest rate.
   awat.

   Dalam menentukan penyisihan kerugian kredit                      In deternining the ECL allowance the following key
   ekspektasian, pertimbangan utama berikut diterapkan             judgenents werc applied by the Group:
   oteh Grup:
   .   Menentukan kriteria peristiwa transisi, yang                    1etemining criteia fot tQnsition events, which are
       digunakan untuk merangkum masing-masing piutang                 used to sunnaise individual trade rcceivables into
       dagang ke datam negara-negara poputasi, dan untuk              population states, and to predid the likelihood ol
       memperkirakan kemungkinan transisi piutang dagang               trade rcceivables transitioning between such
       antar negara-negara populasi tersebut (tingkat                 population states (trdnsitioo ater;
       transisi);
   .   Menetapkan segmen piutang sejenis untuk kepertuan              Establishing segments of similar rcceivables for the
       pengukuran penyisihan ECL secara kolektif; Dan                 purposes of neasuring the ECL allawance on a
                                                                      collective basis: and
        Menetapkan jumtah dan bobot retatif dari skenario             tstablishing the nunber and relative weightings ot
        berwawasan ke depan seperti perkiraan PD8,                    forward-looking scenarios such as 60P outlook,
        perkiraan tingkat suku bunga dan inftasi untuk setjap         intercst rate and inflation rate forccasts for each type
       jenis produk/pasar dan penyisihan kerugian kredit              of product/ndrket and the ECL allowaoce,
       ekspektasian.

   Kami fokus pada area ini karena nilai tercatat atas             We focused on this area because the ca ying value ol
   piutang usaha mewakili 14olo dari totaI aset Grup dan           trade receivables teprcsents 14o/o of the 6toup\ total
   besarnya nitai penyisihan kerugian kredit ekspektasian          assets and the anount of the allowance fot expected
   yang dibentuk atas piutang usaha tersebut, yang nitainya        credit losses established on these trade receivables is
   signifikan terhadap [aporan keuangan konsotidasian.             significant to the consolidated financial statements-
   Penentuan penyisihan kerugian kredit ekspektasian               qeternining the Allowaoce for Expected Credit Losses
   membutuhkan pertimbangan manajemen yang objektif                requtes objective nanagenent judgnent and involves
   dan metibatkan penggunaan estimasi dengan tingkat               the use of estinates with a high degree of uncertainty,
   ketidakpastian yanq tinggi,
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    Eagaimana audit kami merespons hal audit utama                   llow our audit addressed the key dudit matter

    Kami metakukan prosedur audit berikut pada penyisihan            we peiorned the follotling audit procedures on the fCL
    kerugian kredit ekspektasian:                                    allowance:
   .    Kami melakukan penilaian terhadap kebijakan                  .    We assessed the accounting policies rclating to the
       akuntansi terkait penentuan penyisihan kerugian                    detemination of the EcL allowance with reference to
        kredit ekspektasian dengan mengacu pada                           the requireneott ofPSAK 109 and application theteol
       persyaratan PSAK 109 dan penerapannya dalam                        io the qrcups industty. we identified no significant
       industrj Grup. Kami mengidentifikasi tidak ada                     deriations fron PSAK 109 dnd industty pactice;
        penyimpangan yang signifikan dari PSAK 109 dan
        praktik industry;
   .    Untuk sampel piutang usaha, kami menyepakati                      For sanpling of trade rcceivables, we agreed the
       informasi yang mendasarinya sehubungan dengan                      underling infornation with respect to individual
       masing-masing piutang usaha, serta portofolio                      trade receivdbtes, as well as portfolios of trade
       piutang usaha yang digunakan datam modet, ke                       receiuables utilised in the nodeL to the relevant
       datam catatan akuntansi dan dokumen pendukung                      accounting records and underlying documents. llo
       yang retevan. Tidak ada perbedaan signifikan                       naterial differences were noted;
       tercatat;
   .   Kami membandingkan tambahan penyisihan kerugian                    We conpated the additional ECL allowance
       kredit ekpsektasian yang ditentukan berdasarkan                    deternined based on these adjusted coverage fttes,
       tingkat cakupan        yangdisesuaikan ,dengan                     to the 6roup\ forwardlooking adjustnents and
       penyesuaian ke depan yang ditakukan Grup dan                       found that the Groupt adJ'ustnents werc not
       menemukan bahwa penyesuaian yang dilakukan 6rup                    significant in our range ofindependent expectations'
       masih datam jangkauan ekspektasi independen kami.

Informasi Lain                                                    other lnformation

Itlanajemen bertanggung jawab atas informasi lain. Informasi      /'ldnagenent is responsible fot the oth infomation' fhe
tajn terdiri dari informasi yang tercantum datam taporan          other infornation conpises the infornation included in the
tahunan, tetapi       tidak termasuk taporan keuangan             annual rcpoi. but does not include the consolidated
konsotidasian dan taporan auditor kami. Laporan tahunan           financial statenents and our auditors'report thercoo. fhe
diharapkan akan tersedia bagi kami setetah tanggat taporan        annual repoi is expected to be nade available to us after
auditor ini.                                                      the date of this auditors'rcporl

Opini kami atas [aporan keuangan konsotidasian tidak              1ur opinion on the consolidated financial statenents does
mencakup informasi tain, dan oteh karena itu, kami tidak          not covet the other infornation and we will not express any
menyatakan bentuk keyakinan apapun atas informasi lain            forn of assurance conclusion thercon.
tersebut,

Sehubungan dengan audit kami atas [aporan keuangan                fn rcnnection with our audit of the consolidated financial
konsotidasian, tanggung jawab kami adatah untuk membaca           statenents, our responsibility is to read the othet
informasi lain yang te.identifikasi dj atas, jika tersedia dan,   infornation identified above when it becones available and,
dalam metaksanakannya, mempertimbangkan apakah                    in doing so. considet whether the othet infomation is
informasi tain mengandung ketidakkonsistensian materiaI           nateially inconsistent with the consolidated financbl
dengan laporan keuangan konsotidasian atau pemahaman              stdtenents or our knowledge obtained in the audit ot
yang kami peroteh setama audit, atau mengandung kesatahan         otherwise appeats to be naterially nisstated.
penyajian materiat.

Ketika kami membaca laporan tahunan, jika kamj                    when we read the annual rcport, if we conclude that therc is
menyimputkan bahwa terdapat suatu kesatahan penyajian             a nateial nisstatement therein, we are required to
materiat    di datamnya, kami diharuskan untuk                    connunicate the natter to those charged with governance
mengomunikasikan hat tersebut kepada pihak yang                   and take apprcpntate actioos io accordance with Standards
bertanggung jawab atas tata ketota dan menqambit tindakan         on Auditing established by the Indonesian Institute ol
tepat berdasarkan Standar Audit yang ditetapkan o[eh              Certi fied Pub lic A cco u n ta n ts,
Institut Akuntan Pubtik Indonesia.
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Tanggung Jawab Manajemen dan Pihak yang Eertanggung             nesponsibih'hbs of anagement and fhose Charged with
Jawab atas Tata Kelota terhadap Laporan Keuangan                Governance for theconsolidated financial Statemen ts
Konsotidasian

Manajemen bertangqung jawab atas penyusunan dan                 Llanagenent is responsible for the preparation and fair
penyajian wajar [aporan keuangan konsolidasian tersebut         presentation of the consolidated financial statenents in
sesuai dengan Standar Akuntansi Keuangan di Indonesia, dan      accordance with fndonesian Financial Accounting Standards,
atas pengendalian internat yang dianggap pertu oteh             and for such internal control as nanagement determines is
manajemen untuk memungkinkan penyusunan [aporan                 necessary to enable the preparation ofconsolidated financial
keuangan konsolidasian yang bebas dari kesatahan penyajian      statements that arc free fron nateial misstatenent
materiat, baik yang disebabkan oteh kecurangan maupun           whethet due to fraud or errur,
kesatahan.

Datam penyusunan [aporan keuangan konsotidasian,                In prepaing the consolidated financtal statenents,
manajemen bertanggung jawab untuk menitai kemampuan             nanagenent is responsible for assessing the 6roup's ability
Grup datam mempertahankan ketangsungan usahanya,                to continue a5 a going concern, disclosing, as applicable
mengungkapkan, sesuai dengan kondisinya, hat-hal. yang          natters related to going concern and using the going
berkaitan dengan ketangsungan usaha, dan menggunakan            concern basis of accounting unless nanagenent either
basis akuntansi ke[angsungan usaha, kecuali manajemen           intends to liquidate the 6roup or to cea1e operations. or has
memitiki intensi untuk metikuidasi Grup atau menghentikan       no realistic alteroative but to do so.
operasi, atau tidak memitiki atternatif yang reatistis selain
metaksanakannya.

 Pihak yang bertanggung jawab atas tata ketota bertanggung      fhose charged with governance are responsible for
jawab untuk mengawasi proses petaporan keuangan Grup.           overseeing the Group's financial reporting process.

Tanggung jawab auditor terhadap Audit atas Laporan              Aaditot's Responsibilities for the Audit of the
Keuangan Konsotidasian                                          Co n so lidated   fi na n cia I         t e m en ts
                                                                                                  'ta
Tujuan kami adalah untuk memeroteh keyakinan memadai            1ur objectives are to obtain rcasonable assurance about
tentang apakah [aporan keuangan konsotidasian secara            whether the consolidated financial statenent, as a whole dre
keseturuhan bebas dari kesatahan penyajian material, baik       ftee fron nateial misstatenent, whether due to frdud ot
yang disebabkan oteh kecurangan maupun kesatahan, dan           error, and to issue an auditor's repoft that includes out
untuk menerbitkan [aporan auditor yang mencakup opini           opinion. Reasonable assurance is a high level of assurance,
kami. Keyakinan memadai merupakan suatu tingkat                 but is not a guarantee that an dudit conducted in accordance
keyakinan tinggi, namun bukan merupakan suatu jaminan           with Standad on Auditiog will always detect a natenal
bahwa audit yang ditaksanakan berdasarkan Standar Audit         nisstateneot when it exists. l'lisstatenents can aise from
akan setatu mendeteksi kesatahan penyajian materiat ketika      fraud or error and are coosidered nateial if, individually ot
haL tersebut ada. xesatahan penyajian dapat disebabkan oleh     in the dggrcgdte, they could reasonably be expected to
kecurangan maupun kesalahan dan dianggap material jika,         influence the econonic decisions of users taken on the basis
baik secara individuaI maupun secara agregat, dapat             of these consolidated financial statenents.
dieksp€ktasikan secara wajar akan memengaruhi keputusan
ekonomi yang diambil oteh pengguna berdasarkan laporan
keuangan konsotidasian tersebut.

Sebagai bagian dari suatu audit berdasarkan Standar Audit,      As part of an audit in accordance with Standard on Auditing,
kami    menerapkan pertimbangan profesionaI dan                 we exercise professional judgment and naintain professional
mempertahankan skeptisisme profesionaI selama audit. Kami       skepticisn throughout the audit, We ako:
j uga:
    .    Mengidentifikasi dan menitai risiko kesatahan                  Ideotifu and assess the isks of natenbl
         penyajian material datam laporan keuangan                      nisstatenent of the consolidated financbl
         konsotidasian, baik yang disebabkan oteh kecurangan            statements. whether due to fraud or e or, desig1 and
         maupun kesalahan, mendesain dan me[aksanakan                   peforn audit procedures responsive to those isks.
         prosedur audit yang responsif terhadap risiko                  and obtain audit evidence that is sufficient and
         tersebut, serta memeroteh bukti audit yang cukup               apprcpiate to proride a basis for our opinion. rhe
         dan tepat untuk menyediakan basis bagi opini kami.             risk of not detecting a naterial nisstatement
         Risiko tidak terdeteksinya kesatahan penyajian                 rcsulting fron faud is highet than for one rcsulting
         materiat yang disebabkan oleh kecurangan lebih                 fion enor, as fraud nay involve collusion, forgery,
         tinggi dari yang disebabkan oleh kesatahan, karena             intenhbnal omissions, nisrepresentations, or the
         kecurangan dapat metibatkan kotusi. pematsuan,                 override of internal control.
         penghilangan secara sengaja, pernyataan satah, atau
         pengabaian pengendatian internal.
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Tanggung jawab auditor terhadap Audit atas Laporan                 Aaditot's Responsibilities for the Aadit of the
Keuangan (onsolidasian - Lanjutan                                  Consolidated Financial Statements - Continaed

           Memeroteh suatu pemahaman tentang pengendatian                 qbtain ao understanding of intenal control relevant
           internaI yang retevan dengan audit untuk mendesain             to the audit in ordet to design audit procedures that
           prosedur audit yang tepat sesuai dengan kondisinya,            arc appropiate in the circumstances, but not for the
           tetapi bukan untuk tujuan menyatakan opini atas                purpose of expressing an opinion on the
           keefektivitasan pengendatian internaI Grup.                    effectiveness of the 6roup'5 intenal control'
           Mengevatuasi ketepatan kebijakan akuntansi yang                Evaluate the appropiateness of accounting Policies
           digunakan serta kewajaran estimasi akuntansi dan               used and the redsonableness ofaccounting estinates
           pengungkapan terkait yang dibuat ol.eh manajemen.              and related disclosures made by nanagenent.
           It4enyimputkan ketepatan penggunaan basis                      Conclude on the appropiateness of nanagenent\
           akuntansi kelrngsungan usaha o[eh manajemen dan.               use of the going concern basis of accounting and,
           berdasarkan bukti audit yang diperoteh, apakah                 based on the audit evidence obtained, whethet a
           terdapat suatu ketidakpastian materiaI yang terkait            naterial uncettainty exists related to events ot
           dengan peristiwa atau kondisi yang dapat                       conditions thdt may cast significant doubt ofl the
           menyebabkan keraguan signifikan atas kemampuan                 Group! ability to continue as a going concern. If we
           Grup untuk mempertahankan kelangsungan                         conclude that a mateiat uncertainty exists, we arc
           usahanya. Ketika kami menyimputkan bahwa terdapat              required to draw attention in our auditorl report to
           suatu ketidakpastian materiat, kami diharuskan untuk           the related disclosurcs in the consolidated financial
           menarik perhatian datam [aporan auditor kami ke                statenents or, ifsuch disclosures are inddequate, to
           pengungkapan terkait datam [aporan keuangan                    nodifu our opinion. 0u conclutions are based on the
           konsotidasian atau, jika pengungkapan tersebut tidak           audit ewdence obtained up to the date of out
           memadai, harus menentukan apakah pertu untuk                   auditorl report However, future eveots or conditnns
           memodifikasi opini kami. Kesimputan kami                       nay cause the Group to cease to continue as a going
           didasarkan pada bukti audit yang diperoteh hingga              concern,
           tanggal laporan auditor kami. Namun, peristi',va atau
           kondisi masa depan dapat menyebabkan Grup tidak
           dapat mempertahankan ketangsungan usaha.
           Mengevatuasi penyajian, struktur, dan isi laporan              Evaluate the olerall presentation, structure and
           keuangan konsolidasian secara keseturuhan,                     conteot of the consolidated financidl stateneots,
           termasuk pengungkapannya, dan apakah [aporan                   iocluding the disclosures, and whethet the
           keuangan konsotidasian mencerminkan transaksi dan              consolidated financial statenents reprcsent the
           peristiwa yang mendasarinya dengan suatu cara yang             underlying transactions and events in a nanner that
           mencapai penyajian wajar.                                      achieves fat presentation,
           Memeroteh bukti audit yang cukup dan tepat terkait             Obtain sutficient appropriate audit eidence
           informasi keuangan entitas atau aktivitas bisnis               regarding the financial infornation of the entities ot
           dalam Grup untuk menyatakan opini atas taporan                 business activities within the Group to express an
           keuangan konsolidasian. Kami bertanggung jawab                 opinion on the consolidated financial statenents. We
           atas arahan, supervisi, dan petaksanaan audit Grup.            are responsible for the direction, supervision and
           Kami tetap bertanggung jawab sepenuhnya atas opini             petfornance of the group audit. We rcnain solely
           audit kami.                                                    responsible for our audit opinion.

 Kami mengomunikasikan kepada pihak yang bertanggung               We comnunicate with those charged with governance
jaryab atas tata ketola mengenai, antara lain, ruang tingkup       rcgarding, anong other natters, the planned scope aqd
 dan saat yang direncanakan atas audit, serta temuan audit         tining of the audit and significant audit findings, including
signifikan, termasuk setiap defisiensi signifikan da[am            any significant deficiencies in internal control that we
pengendatian internal yang teridentifikasi oteh kami selama        identify duing our audit.
audit.

Kamijuga memberikan suatu pernyataan kepada pihak yanq             We also provide those charged vith govemance with a
bertanggung jawab atas tata ketota bahwa kami tetah                stateneot that we have conplied with rclevant ethical
mematuhj ketentuan etika yang retevan mengenai                     requirenents regarding independence, and to connunicate
independensi, dan mengomunikasikan seturuh hubungan,               with then all relationships and other natters that nay
serta halhaI tain yang dianggap secara wajar berpengaruh           reasonably be thought to beat on ou iDdependence, and
terhadap independensi kami, dan, jika retevan, pengamanan          wh erc applica ble rc\a ted sa feg uards.

terkait.
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Tanggung jawab auditor terhadap Audit atas Laporan               Auditot's Responsibih'ties for the Audit of the
Keuangan Konsolidasian - Lanjutan                                Consolidated Financial Statements - Continued

Dari hat-hat yang dikomunikasikan kepada pihak yang              fron the natters conmunicated vith those charged with
bertanggung jawab atas tata ketota, kami menentukan hal          governaocq we detemine those natters that werc of nost
hal tersebut yang pating signifikan datam audit atas taporan     significance in the audit of the consolidated financial
keuangan periode kini dan oleh karenanya menjadi hal audit       statenents of the current peiod and are therefore the key
utama. Kami menguraikan hal. audit utama datam laporan           dudit natters. We descibe these nattes in our auditor's
auditor kami, kecuati peraturan perundang-undangan               repoft unless law ot regulation precludes public dbclosure
metarang pengungkapan pubtik tentang hat tersebut atau           about the nattet or when, in extrenely nre circunstances.
ketika, datam kondisi yang sangat jarang terjadi, kamj           we determine that a natter should not be connunicated in
menentukan bahwa suatu hat tidak boteh dikomunikasikan           our report because the adverse consequences of doing so
datam taporan kami karena konsekuensi merugikan dari             would reasonably be expected to outweigh the public intercst
mengomunikasikan haI tersebut akan diekspektasikan secara        benefits of such connunication.
wajar metebihi manfaat kepentingan pubtik atas komunikasi
tersebut.




                                            KANAl(A PURAOIREDJA, SUHARTONO




                                                        Tan Siddharta
                                                    Ijin/License: AP.0111

                                                74 Marc|2025/ Llarch 14, 2025




E



 I
        00063
Page 295
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
LAPORAN POSISI KEUANGAN                                                        CONSOLIDATED STATEMENT OF FINANCIAL
KONSOLIDASIAN                                                                                                 POSITION
31 DESEMBER 2024                                                                                     DECEMBER 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                       (Expressed in Millions of Rupiah, unless otherwise stated)

                                            Catatan /
                                             Notes                      2024                2023

ASET                                                                                                                               ASSETS
ASET LANCAR                                                                                                          CURRENT ASSETS
                                           3d,3e,3r,5,33
Kas dan setara kas                          36,37,38,39                  503.649              176.938          Cash and cash equivalents
Piutang usaha                                                                                                         Trade receivables
  Pihak ketiga                            3e,6,36,37,38                 1.084.658           1.102.407                    Third parties
  Pihak berelasi                       3e,3f,6,33,36,37,38                 37.129              32.386                  Related parties
Piutang lain-lain                                                                                                      Other receivables
  Pihak ketiga                                3e,7,37                         571               1.463                    Third parties
Persediaan                                      3g,8                    3.519.974           3.676.658                        Inventories
Pajak dibayar di muka                         3s,34a                           33               5.584                     Prepaid taxes
Uang muka                                        9                         37.649              10.000                          Advances
Biaya dibayar di muka                          3h,10                       70.578              69.138                  Prepaid expenses
Jumlah Aset Lancar                                                      5.254.241           5.074.574                 Total Current Assets

ASET TIDAK LANCAR                                                                                             NON-CURRENT ASSETS
Piutang pihak berelasi                    3e,3f,33,37,38                       -                    7              Due from related party
Investasi                                      3l,11                      39.579               35.529                         Investments
                                                                                                                      Property, plant and
Aset tetap - neto                          3i,3m,4b,12                  2.529.331           2.450.464                   equipment - net
Properti investasi                           3j,4b,13                       9.067               9.067               Investment properties
Aset takberwujud-neto                         3k,14                         1.731               2.772                 Intangible asset-net
Uang muka                                        9                        461.478             399.295                           Advances
Jumlah Aset Tidak Lancar                                                3.041.186           2.897.134           Total Non-Current Assets
JUMLAH ASET                                                             8.295.427           7.971.708                    TOTAL ASSETS




Catatan atas laporan keuangan konsolidasian terlampir merupakan          The accompanying notes to consolidated financial statements are an
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian                   integral part of these consolidated financial statements
secara keseluruhan                                                                                                          taken as a whole

                                                                    1
Page 296
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
LAPORAN POSISI KEUANGAN                                                        CONSOLIDATED STATEMENT OF FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                            POSITION - Continued
31 DESEMBER 2024                                                                                     DECEMBER 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                       (Expressed in Millions of Rupiah, unless otherwise stated)

                                            Catatan /
                                             Notes                      2024                2023

LIABILITAS DAN EKUITAS                                                                                     LIABILITIES AND EQUITY

LIABILITAS                                                                                                                  LIABILITIES

LIABILITAS JANGKA
 PENDEK                                                                                                        CURRENT LIABILITIES

Utang bank jangka pendek                  3e,15,36,37,38                 918.667            1.757.746             Short-term bank loans
Utang usaha                                                                                                              Trade payables
  Pihak ketiga                           3e,16,36,37,38                  336.992              269.277                    Third parties
  Pihak berelasi                      3e,3f,16,33,36,37,38                 1.125                  590                  Related parties
Utang pajak                                 3s,4d,34c                     31.415               59.265                     Taxes payable
Biaya masih harus dibayar                  3e,3f,17,37                    41.598               26.704                 Accrued expenses
Uang muka pelanggan                                                       58.618               36.144            Advance from customer
Liabilitas jangka pendek lainnya            3e,3f,18,37                   19.942               14.758           Other current liabilities
Bagian lancar atas liabilitas                                                                            Current maturities of long-term
  jangka panjang:                                                                                                          liabilities:
  Bank                                   3e,19,36,37,38                        -                  708                             Bank
  Liabilitas sewa                       3e,3n,19,36,37,38                 17.791               21.266                Lease liabilities
  Utang obligasi                            20,37,38                     135.000              197.250                  Bonds payable
  Utang sukuk ijarah                        21,37,38                      50.000              113.650            Sukuk ijarah payable
Jumlah Liabilitas Jangka Pendek                                         1.611.148           2.497.358            Total Current Liabilities

LIABILITAS JANGKA                                                                                                        NON-CURRENT
 PANJANG                                                                                                                  LIABILITIES

Utang jangka panjang - setelah                                                                                 Long-term liabilities - net
  dikurangi bagian jatuh tempo                                                                           of current maturities within 1
  dalam satu tahun :                                                                                                         (one) year:
  Liabilitas sewa                       3e,3n,19,36,37,38                   3.411              20.390                  Lease liabilities
  Utang obligasi                            20,37,38                    1.212.100             347.100                    Bonds payable
  Utang sukuk ijarah                        21,37,38                      152.000             202.000             Sukuk ijarah payable
Liabilitas pajak tangguhan                  3s,4d,34e                     185.533             199.755             Deferred tax liabilities
                                                                                                                Liabilities for employees
Liabilitas imbalan kerja karyawan            3o,4e,22                     87.484               86.759                           benefits
Jumlah Liabilitas Jangka Panjang                                        1.640.528             856.004      Total Non-Current Liabilities
JUMLAH LIABILITAS                                                       3.251.676           3.353.362              TOTAL LIABILITIES




Catatan atas laporan keuangan konsolidasian terlampir merupakan          The accompanying notes to consolidated financial statements are an
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian                   integral part of these consolidated financial statements
secara keseluruhan                                                                                                          taken as a whole

                                                                    2
Page 297
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
LAPORAN POSISI KEUANGAN                                                        CONSOLIDATED STATEMENT OF FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                            POSITION - Continued
31 DESEMBER 2024                                                                                     DECEMBER 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                       (Expressed in Millions of Rupiah, unless otherwise stated)

                                            Catatan /
                                             Notes                      2024                2023

EKUITAS                                                                                                                           EQUITY
Modal saham - nilai nominal                                                                                    Capital stock - par value
  Rp 100 per saham                                                                                              Rp 100 per share (full
  (Rupiah penuh) Modal                                                                                            amount) Authorized
  dasar - 17.000.000.000                                                                                     capital - 17,000,000,000
  saham Modal ditempatkan                                                                                           shares Issued and
  dan disetor penuh -                                                                                              fully paid capital -
  7.185.992.035 saham                           23                       718.599              718.599           7,185,992,035 shares
Tambahan modal disetor - neto                  3p,24                     500.880              500.880    Additional paid-in capital - net
Saham treasuri - 120.651.300                                                                                           Treasury stocks -
  saham                                        3u,23                     (12.065)            (12.065)             120,651,300 shares
Saldo laba                                                                                                            Retained earnings
  Ditentukan penggunaannya                                                 40.000              30.000                    Appropriated
  Tidak ditentukan penggunaannya                                        2.575.745           2.161.643                 Unappropriated
Komponen ekuitas lainnya                         25                     1.220.578           1.219.256          Other equity components
Sub jumlah                                                              5.043.737           4.618.313                              Sub total
Kepentingan non-pengendali                       3c                              14                 33            Non-controlling interest
JUMLAH EKUITAS                                                          5.043.751           4.618.346                    TOTAL EQUITY
JUMLAH LIABILITAS                                                                                                  TOTAL LIABILITIES
 DAN EKUITAS                                                            8.295.427           7.971.708                  AND EQUITY




Catatan atas laporan keuangan konsolidasian terlampir merupakan          The accompanying notes to consolidated financial statements are an
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian                   integral part of these consolidated financial statements
secara keseluruhan                                                                                                          taken as a whole

                                                                    3
Page 298
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                             ITS SUBSIDIARY
LAPORAN LABA RUGI DAN PENGHASILAN                                          CONSOLIDATED STATEMENT OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN                                                     AND OTHER COMPREHENSIVE INCOME
Untuk Tahun yang Berakhir Tanggal 31 Desember 2024                                       For the Year Ended December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)

                                           Catatan/
                                            Notes              2024                   2023

PENJUALAN DAN                                                                                                      SALES AND SERVICE
 PENDAPATAN JASA                             3q,26              6.118.364              6.455.329                          REVENUES
BEBAN POKOK PENDAPATAN                       3q,27            (5.012.387)            (5.387.142)                   COST OF REVENUES
LABA KOTOR                                                      1.105.977              1.068.187                         GROSS PROFIT

Pendapatan lain-lain                         3q,28                121.873                143.118                           Other income
Beban penjualan dan distribusi               3q,29              (159.646)              (160.557)       Selling and distribution expenses
                                                                                                                            General and
Beban umum dan administrasi                  3q,30              (125.254)              (144.052)              administrative expenses
Beban keuangan                               3q,31              (210.832)              (237.188)                     Financial expenses
Beban lain-lain                              3q,32               (56.529)               (28.924)                          Other expenses
LABA SEBELUM TAKSIRAN                                                                                   INCOME BEFORE PROVISION
 PENGHASILAN                                                                                                   FOR TAX INCOME
 (BEBAN) PAJAK                                                      675.589              640.584                     (EXPENSE)
TAKSIRAN PENGHASILAN                                                                                              PROVISION FOR TAX
 (BEBAN) PAJAK:                            3s,4d,34                                                             INCOME (EXPENSE):
 Kini                                                           (160.121)              (156.327)                           Current
 Tangguhan                                                         14.595                 13.802                          Deferred
JUMLAH TAKSIRAN                                                                                                     TOTAL PROVISION
  BEBAN PAJAK                                                   (145.526)              (142.525)                   FOR TAX EXPENSE
LABA TAHUN BERJALAN                                                 530.063              498.059            INCOME FOR THE YEAR

PENGHASILAN                                                                                               OTHER COMPREHENSIVE
 KOMPREHENSIF LAIN                                                                                                   INCOME

POS-POS YANG TIDAK AKAN                                                                                               ITEM NOT TO BE
 DIREKLASIFIKASI                                                                                                 RECLASSIFIED TO
 KE LABA RUGI                                                                                                      PROFIT OR LOSS
 Keuntungan (kerugian) aktuaria            3o,22,25                  1.695               23.262                 Actuarial gain (losses)
 Pajak penghasilan terkait                                                                                   Income tax related to item
   pos-pos yang tidak akan                                                                                      not to be reclassified
   direklasifikasi ke laba rugi                                       (373)               (5.118)                     to profit or loss
PENGHASILAN                                                                                               OTHER COMPREHENSIVE
 KOMPREHENSIF LAIN                                                   1.322               18.144                      INCOME

JUMLAH LABA
 KOMPREHENSIF TAHUN                                                                                        TOTAL COMPREHENSIVE
 BERJALAN                                                           531.385              516.203          INCOME FOR THE YEAR




Catatan atas laporan keuangan konsolidasian terlampir merupakan           The accompanying notes to consolidated financial statements are an
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian                    integral part of these consolidated financial statements
secara keseluruhan                                                                                                           taken as a whole

                                                                      4
Page 299
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                              ITS SUBSIDIARY
LAPORAN LABA RUGI DAN PENGHASILAN                                           CONSOLIDATED STATEMENT OF PROFIT OR LOSS
KOMPREHENSIF LAIN KONSOLIDASIAN - Lanjutan                                 AND OTHER COMPREHENSIVE INCOME - Continued
Untuk Tahun yang Berakhir Tanggal 31 Desember 2024                                        For the Year Ended December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                       (Expressed in Millions of Rupiah, unless otherwise stated)

                                           Catatan/
                                            Notes              2024                    2023

Laba (rugi) periode berjalan yang                                                                                 Income (loss) for the
 dapat diatribusikan kepada:                                                                                   period attributable to:
 Pemilik entitas induk                                              530.082              498.087            Owners of the parent entity
 Kepentingan non - pengendali                                           (19)                 (28)             Non-controlling interest
JUMLAH                                                              530.063              498.059                                    TOTAL

Jumlah laba (rugi) komprehensif                                                                             Total comprehensive income
  periode berjalan yang dapat                                                                                      (loss) for the period
  diatribusikan kepada:                                                                                                 attributable to:
  Pemilik entitas induk                                             531.404              516.231            Owners of the parent entity
  Kepentingan non - pengendali                                          (19)                 (28)              Non-controlling interest
JUMLAH                                                              531.385              516.203                                    TOTAL

Laba Per Saham Dasar                         3v,35                                                              Basic Earnings Per Share
  Jumlah Saham                                            7.065.340.735           7.065.340.735                Total Outstanding Share
  Laba Per Saham Dasar                                                                                        Basic Earnings Per Share
    (Rupiah Penuh)                                                    75,03                 70,50                      (Full Amount)




Catatan atas laporan keuangan konsolidasian terlampir merupakan            The accompanying notes to consolidated financial statements are an
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian                     integral part of these consolidated financial statements
secara keseluruhan                                                                                                            taken as a whole

                                                                       5
Page 300
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN ENTITAS ANAKNYA                                                                                      PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND ITS SUBSIDIARY
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN                                                                                                                     CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Untuk Tahun yang Berakhir Tanggal 31 Desember 2024                                                                                                                            For the Year Ended December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                                                                                                                (Expressed in Millions of Rupiah, unless otherwise stated)

                                                Ekuitas yang Dapat Diatribusikan Kepada Pemilik Entitas Induk/Equity Attributable to Owners of the Parent Entity
                                   Modal            Tambahan                          Komponen Ekuitas Lainnya/                                                                  Kepentingan
                                Ditempatkan       Modal Disetor-                       Other Equity Components                                                                       Non
                                 dan Disetor           Neto/           Saham           Surplus            Kerugian            Saldo Laba/Retained Earnings                       pengendali/
                                   Penuh/           Additional        Treasuri/       Revaluasi/          Aktuaria/          Ditentukan        Tidak ditentukan                     Non-
                             Issued and Fully         Paid-in         Treasury       Revaluation          Actuarial       penggunaannya/       penggunaannya/      Jumlah/       Controlling       Jumlah Ekuitas/
                                Paid Capital       Capital-Net         Stocks          Surplus             Losses          Appropriated        Unappropriated       Total          Interest         Total Equity

                                                                                                                                                                                                                            Balance as of
Saldo per 1 Januari 2023              718.599           500.880          (12.065)        1.221.714           (20.602)              20.000            1.715.948      4.144.474             61            4.144.535       January 1, 2023

Penghasilan komprehensif                                                                                                                                                                                               Other comprehensive
  lain                                      -                  -                -                 -           18.144                     -                    -        18.144                  -           18.144                income

Pembentukan cadangan                                                                                                                                                                                                  Allocation for general
  umum                                      -                  -                -                 -                 -              10.000              (10.000)              -                 -                 -                reserve

Dividen                                     -                  -                -                 -                 -                    -             (42.392)       (42.392)                 -          (42.392)                Dividend

Laba bersih tahun berjalan                  -                  -                -                 -                 -                    -             498.087        498.087            (28)             498.059    Net income for the year

Saldo per                                                                                                                                                                                                                   Balance as of
  31 Desember 2023                    718.599           500.880          (12.065)        1.221.714            (2.458)              30.000            2.161.643      4.618.313             33            4.618.346     December 31, 2023

Penghasilan komprehensif                                                                                                                                                                                               Other comprehensive
  lain                                      -                  -                -                 -            1.322                     -                    -         1.322                  -            1.322                income

Pembentukan cadangan                                                                                                                                                                                                  Allocation for general
  umum                                      -                  -                -                 -                 -              10.000              (10.000)              -                 -                 -                reserve

Dividen                                     -                  -                -                 -                 -                    -            (105.980)      (105.980)                 -         (105.980)                Dividend

Laba bersih tahun berjalan                  -                  -                -                 -                 -                    -             530.082        530.082            (19)             530.063    Net income for the year

Saldo per                                                                                                                                                                                                                   Balance as of
  31 Desember 2024                    718.599           500.880          (12.065)        1.221.714            (1.136)              40.000            2.575.745      5.043.737             14            5.043.751     December 31, 2024




Catatan atas laporan keuangan konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari                               The accompanying notes to consolidated financial statements form an integral part of these consolidated
laporan keuangan konsolidasian secara keseluruhan                                                                                                                                                 financial statements taken as a whole

                                                                                                                         6
Page 301
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                   PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                                 ITS SUBSIDIARY
LAPORAN ARUS KAS KONSOLIDASIAN                                                    CONSOLIDATED STATEMENT OF CASH FLOW
Untuk Tahun yang Berakhir Tanggal 31 Desember 2024                                           For the Year Ended December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                           (Expressed in Millions of Rupiah, unless otherwise stated)

                                            Catatan/
                                             Notes                  2024                    2023

ARUS KAS DARI                                                                                                          CASH FLOWS FROM
  AKTIVITAS OPERASI                                                                                               OPERATING ACTIVITIES

Penerimaan kas dari pelanggan                6,9,27                  6.159.065               6.500.458               Cash receipt from customers
Pembayaran kas kepada                                                                                                      Cash paid to suppliers
  pemasok, karyawan, dan lain-lain                                  (4.917.701)              (6.050.176)                 employees and others

Kas yang dihasilkan dari operasi                                     1.241.364                 450.282           Cash generated from operations

Pembayaran biaya keuangan                                            (210.833)                (237.188)                  Payment of finance cost
Pembayaran pajak penghasilan                                         (138.910)                (102.416)                   Payment of income tax
Penerimaan dari restituasi pajak               35                           -                   90.598                      Receipt of tax refund
Penerimaan penghasilan keuangan                                         1.437                      293                  Receipt of finance income

Arus Kas Neto Diperoleh dari                                                                                         Net Cash Flows Provided by
  Aktivitas Operasi                                                   893.058                  201.569                    Operating Activities

ARUS KAS DARI                                                                                                           CASH FLOWS FROM
 AKTIVITAS INVESTASI                                                                                               INVESTING ACTIVITIES

                                                                                                                  Proceeds from sale of property,
Hasil penjualan aset tetap                     12                           225                        -                   plant and equipment
                                                                                                                         Acquisitions of property,
Perolehan aset tetap                           12                    (180.838)                 (63.087)                    plant and equipment
Penambahan uang muka                                                                                            Addition on advances of property,
  pembelian aset tetap                                                 (83.523)                  (2.956)                   plant and equipment
Penambahan aset tidak                                                                                                            Addition of other
  lancar lainnya                                                            (641)                      -                      non-current asset
Pengurangan aset tidak                                                                                                          Decrease of other
  lancar lainnya                                                               -                   3.853                      non-current asset
Penerimaan piutang berelasi                    34                              7                       -             Receipt of related receivable

Arus Kas Neto Digunakan untuk                                                                                            Net Cash Flows Used in
  Aktivitas Investasi                                                (264.770)                 (62.190)                    Investing Activities




Catatan atas laporan keuangan konsolidasian terlampir merupakan             The accompanying notes to consolidated financial statements form an
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian                       integral part of these consolidated financial statements
secara keseluruhan                                                                                                              taken as a whole

                                                                        7
Page 302
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                     PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                                   ITS SUBSIDIARY
LAPORAN ARUS KAS                                                                                CONSOLIDATED STATEMENT OF
KONSOLIDASIAN - Lanjutan                                                                                   CASH FLOW - Continued
Untuk Tahun yang Berakhir Tanggal 31 Desember 2024                                             For the Year Ended December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                         (Expressed in Millions of Rupiah, unless otherwise stated)

                                               Catatan/
                                                Notes          2024                     2023

ARUS KAS DARI                                                                                                       CASH FLOWS FROM
 AKTIVITAS PENDANAAN                                                                                           FINANCING ACTIVITIES

Pembayaran liabilitas sewa                        20                 (21.409)               (20.569)               Payment of lease liabilities
Pembayaran dividen                                24                (105.980)               (42.392)                       Dividend payment
Penambahan bersih dari utang bank                                                                                           Net increase from
  jangka pendek                                   16            4.548.920                6.711.771                   short-term bank loans
Penurunan bersih dari utang bank                                                                                           Net decrease from
  jangka pendek                                   16           (5.394.706)               (7.018.208)                 short-term bank loans
Penerimaan utang obligasi                         1c            1.000.000                   360.350                    Receipt bonds payable
Pembayaran utang obligasi                         1c             (197.250)                  (15.000)                  Payment bonds payable
Biaya emisi obligasi                                              (17.078)                   (4.922)                     Bonds issuance costs
Penerimaan utang sukuk                            1c                    -                   214.650                    Receipt sukuk payable
Pembayaran utang sukuk                            1c             (113.650)                 (100.000)                  Payment sukuk payable
Biaya emisi sukuk                                                       -                    (3.764)                    Sukuk issuance costs
Pembayaran untuk utang                                                                                                 Payments to long-term
  bank jangka panjang                             20                    (708)               (88.330)                             bank loans
Penerimaan (Pembayaran) utang pihak berelasi                               -                 (6.205)           Payment of debt related parties

Arus Kas Neto Digunakan untuk                                                                                         Net Cash Flows Used in
  Aktivitas Pendanaan                                               (301.861)               (12.619)                   Financing Activities

KENAIKAN NETO KAS DAN                                                                                   NET INCREASE CASH AND CASH
 SETARA KAS                                                         326.427                126.760                   EQUIVALENTS

                                                                                                                       CASH AND CASH
KAS DAN SETARA KAS                                                                                                   EQUIVALENTS AT
 AWAL TAHUN                                       5                 176.938                 50.178                BEGINNING OF YEAR

DAMPAK PERUBAHAN KURS                                                                                          EFFECTS OF EXCHANGE
 PADA KAS DAN                                                                                                 DIFFERENCES ON CASH
 SETARA KAS                                                             284                       -          AND CASH EQUIVALENTS

                                                                                                                        CASH AND CASH
KAS DAN SETARA KAS                                                                                                    EQUIVALENTS AT
 AKHIR TAHUN                                      5                 503.649                176.938                       END OF YEAR




Catatan atas laporan keuangan konsolidasian terlampir merupakan             The accompanying notes to consolidated financial statements form an
bagian yang tidak terpisahkan dari laporan keuangan konsolidasian                       integral part of these consolidated financial statements
secara keseluruhan                                                                                                              taken as a whole

                                                                        8
Page 303
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN                                                                                              STATEMENTS
Pada dan Untuk Tahun yang Berakhir Tanggal                                                    As of and For the Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)

1.   UMUM                                                           1.     GENERAL

     a. Pendirian Entitas                                                  a. The Entity’s Establishment

         PT Steel Pipe Industry of Indonesia Tbk (“Entitas”)                   PT Steel Pipe Industry of Indonesia Tbk (the
         didirikan pada tanggal 30 Januari 1971 berdasarkan                    “Entity”) was established on January 30, 1971
         akta notaris No. 109 dari Djojo Muljadi, S.H.,                        based on notarial deed No. 109 of Djojo Muljadi,
         Notaris di Jakarta. Akta pendirian ini disahkan oleh                  S.H., Notary in Jakarta. The deed of establishment
         Menteri Kehakiman Republik Indonesia dalam                            was approved by the Ministry of Justice of the
         Surat Keputusannya No. J.A.5/213/10, tanggal                          Republic of Indonesia in its decision letter No.
         30 Desember 1971 serta telah diumumkan dalam                          J.A.5/213/10, dated December 30, 1971 and was
         Berita Negara No. 42, tanggal 26 Mei 1972,                            published in the State Gazette No. 42, dated May 26,
         Tambahan No. 196.                                                     1972, Supplement No. 196.

         Anggaran Dasar Entitas telah mengalami beberapa                       The Articles of Association of the Entity have been
         kali perubahan, terakhir dengan Akta Notaris Gatot                    amended several times, most recently by Notarial
         Widodo S.E, S.H., M.Kn. No. 41 tanggal 28 Juni                        Deed of Gatot Widodo S.E, S.H., M.Kn. No. 41 dated
         2024, mengenai pernyataan keputusan rapat Entitas                     June 28, 2024, regarding the statement of the
         sehubungan dengan perubahan susunan Anggota                           resolutions of the Entity meeting in relation to the
         Direksi dan Dewan Komisaris serta perubahan                           changes in the composition of the Board of Directors
         Pasal 17 ayat 5 Anggaran Dasar Perseroan. Akta                        and the Board of Commissioners as well as the
         perubahan ini telah mendapat pengesahan dari                          amendment to Article 17 paragraph 5 of the
         Kementrian Hukum dan Hak Asasi Manusia                                Company's Articles of Association. This deed of
         Republik Indonesia dengan surat keputusan No.                         amendment has been approved by the Ministry of
         AHU-AH.01.09-0220715         dan    No.     AHU-                      Law and Human Rights of the Republic of Indonesia
         0039196.AH.01.02 tahun 2024, tanggal 02 Juli                          with Decree No. AHU- AHU-AH.01.09-0220715 and
         2024.                                                                 No. AHU-0039196.AH.01.02 year 2024, July 02,
                                                                               2024.

         Entitas berkedudukan di Surabaya, dengan pabrik                       The Entity is domiciled in Surabaya, with its plants
         berlokasi di Surabaya, Sidoarjo, Pasuruan dan                         located in Surabaya, Sidoarjo, Pasuruan and
         Karawang. Kantor pusat Entitas beralamat di Jl.                       Karawang. The Entity’s head office is located at Jl.
         Kalibutuh No. 189-191, Surabaya.                                      Kalibutuh No. 189-191, Surabaya.

         Sesuai dengan pasal 3 akta perubahan Anggaran                         In accordance with article 3 of the Articles of
         Dasar No. 69, tanggal 28 Juli 2021, maksud dan                        Association     amendment       No.      69,    dated
         tujuan serta kegiatan usaha Entitas adalah berusaha                   July 28, 2021, the scope of activities of the Entity is
         dalam bidang industri dan perdagangan.                                to engage in industry and commerce.

         Entitas mulai beroperasi secara komersial pada                        The Entity started its commercial operations in 1972.
         tahun 1972. Entitas saat ini melakukan kegiatan                       The Entity is currently conducting business in the
         usaha dalam bidang industri pipa baja.                                steel pipe industry.

         Entitas induk dan entitas induk terakhir Entitas                      The Entity’s parent entity and ultimate parent entity
         adalah PT Cakra Bhakti Para Putra.                                    is PT Cakra Bhakti Para Putra.

     b. Penawaran Umum Saham Efek Entitas                                  b. Public Offering of Shares of the Entity

         Pada tanggal 13 Februari 2013, Entitas memperoleh                     On February 13, 2013, the Entity received an
         pernyataan efektif dari Otoritas Jasa Keuangan                        effective notification from the Financial Services
         dengan Surat No. S-31/D.03/2013 untuk melakukan                       Authority (“Otoritas Jasa Keuangan”) with the
         Penawaran Umum Perdana sebanyak 2.900.000.000                         Letter No. S-31/D.04/2013 to conduct Initial Public
         lembar saham dengan nilai nominal Rp 100 per                          Offering of 2,900,000,000 common shares with par
         saham dengan harga penawaran sebesar Rp 295 per                       value of Rp 100 per share, with the offering price of
         saham.                                                                Rp 295 per share.

         Selanjutnya, tanggal 21 September 2015 sampai                         Then,    from     September    21,    2015    to
         dengan 31 Desember 2023, Entitas telah melakukan                      December 31, 2023, the Entity had purchased of
         pembelian saham treasuri sejumlah 120.651.300                         treasury stocks amounting to 120,651,300 shares.
         saham. Jumlah saham yang beredar menjadi sebesar                      The number of shares outstanding amounted to
         7.065.340.735 saham (lihat Catatan 23).                               7,065,340,735 (see Note 23).


                                                                9
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                        STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                    As of and For The Year Ended
31 Desember 2024                                                                                         December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
1.   UMUM - Lanjutan                                                 1.      GENERAL - Continued
                                                                          c.
     c.   Penawaran Umum Obligasi                                         d. c. Public Offering of Bonds
                                                                          e.
          Pada 26 November 2021, Entitas memperoleh                             On November 26, 2021, the Entity obtained an
          pernyataan efektif dari Otoritas Jasa Keuangan                        effective notice from the Financial Services Authority
          (OJK) dengan suratnya No. S-214/D.04/2021 untuk                       in his letter No. S-214/D.04/2021 for the Sustainable
          melakukan Penawaran Umum Berkelanjutan                                Public Offering of Sustainable Bonds I SPINDO
          Obligasi Berkelanjutan I SPINDO Tahap I tahun                         Phase I 2021 with Fixed Interest Rate and maximum
          2021 dengan tingkat Bunga Tetap dengan jumlah                         principal amount of Rp 150,000, which Bond were
          pokok sebanyak-banyaknya Rp 150.000, dimana                           listed on the Indonesia Stock Exchange. In relation to
          Obligasi tersebut tercatat di Bursa Efek Indonesia.                   the issuance of the bonds, PT Bank Rakyat Indonesia
          Dalam rangka penerbitan obligasi ini, PT Bank                         (Persero) Tbk acted as trustee (see Note 20).
          Rakyat Indonesia (Persero) Tbk bertindak sebagai
          wali amanat (lihat Catatan 20).

          Pada 26 November 2021, Entitas memperoleh                             On November 26, 2021, the Entity obtained an
          pernyataan efektif dari Otoritas Jasa keuangan                        effective notice from the Financial Services Authority
          (OJK) dengan suratnya No. S-214/D.04/2021 untuk                       in his letter No. S-214/D.04/2021 for the Sustainable
          melakukan Penawaran Umum Berkelanjutan Sukuk                          Public Offering of Sustainable Sukuk Ijarah I
          Ijarah Berkelanjutan I SPINDO Tahap I tahun 2021                      SPINDO Phase I 2021 with Installment Ijarah
          dengan Cicilan Imbalan Ijarah dengan jumlah                           amounting Rp 150,000, which Sukuk Ijarah were
          sebesar Rp 150.000, dimana Sukuk Ijarah tersebut                      listed on the Indonesia Stock Exchange. In relation to
          tercatat di Bursa Efek Indonesia. Dalam rangka                        the issuance of the sukuk, PT Bank Rakyat Indonesia
          penerbitan sukuk ini, PT Bank Rakyat Indonesia                        (Persero) Tbk acted as trustee (see Note 21).
          (Persero) Tbk bertindak sebagai wali amanat (lihat
          Catatan 21).

          Pada tanggal 28 Juli 2022, Entitas menerbitkan                        On July 28, 2022, the Entity issued Bond namely
          Obligasi dengan nama Obligasi Berkelanjutan I                         Sustainable Bond I Spindo Phase II Year 2022
          Spindo Tahap II Tahun 2022 sebesar Rp 150.000                         amounting to Rp 150,000 and issued Sukuk Ijarah
          dan menerbitkan Sukuk Ijarah dengan nama Sukuk                        namely Sustainable Sukuk Ijarah I Spindo Phase II
          Ijarah Berkelanjutan I Spindo Tahap II Tahun 2022                     Year 2022 amounting to Rp 150,00, which Bond and
          sebesar Rp 150.000, dimana Obligasi dan Sukuk                         Sukuk Ijarah were listed on the Indonesia Stock
          Ijarah tersebut tercatat di Bursa Efek Indonesia.                     Exchange.

          Pada 29 Maret 2023, Entitas memperoleh                                On March 29, 2023, the Entity obtained an pre
          pernyataan pra efektif dari Otoritas Jasa Keuangan                    effective statement from the Financial Services
          (OJK) dengan suratnya No. S-82/D.04/2023 untuk                        Authority (OJK) with its letter No. S-82/D.04/2023 to
          melakukan Penawaran Umum Berkelanjutan                                conduct a Public Offering of Sustainable Bonds and
          Obligasi dan Sukuk Berkelanjutan II SPINDO                            Sustainable Sukuk II SPINDO Phase I Year 2023 with
          Tahap I Tahun 2023 dengan jumlah pokok dan sisa                       a maximum principal amount and remaining Ijarah
          imbalan Ijarah sebanyak-banyaknya masing-masing                       of Rp 405,000.
          sebesar Rp 405.000.

          Pada tanggal 04 April 2023, seluruh dana tersebut                     On April 04, 2023, all of these funds have been
          sudah diterima oleh Entitas.                                          received by the Entity.

          Pada tanggal 04 Agustus 2023, Entitas menerbitkan                     On August 04, 2023, the Entity issued Bond and
          Obligasi dan Sukuk dengan nama Obligasi dan                           Sukuk namely Sustainable Bond and Sustainable
          Sukuk Berkelanjutan II Spindo Tahap II Tahun 2023                     Sukuk II Spindo Phase II Year 2023 amounting to
          sebesar Rp 170.000. Pada tanggal 08 Agutus 2023,                      Rp 170,000. On August 08, 2023, all of these funds
          Seluruh dana tersebut sudah diterima oleh Entitas.                    have been received by the Entity.

          Pada tanggal 05 Juli 2024, Entitas menerbitkan                        On July 05, 2024, the Entity issued Sustainable Bond
          Obligasi terkait berkelanjutan I Tahun 2024 sebesar                   I year 2024 amounting to Rp 1,000,000. On July 09,
          Rp 1.000.000. Pada tanggal 09 Juli 2024, seluruh                      2024 all of these funds have been received by the
          dana tersebut sudah diterima oleh Entitas.                            Entity.




                                                                10
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
1.   UMUM - Lanjutan                                                1.        GENERAL - Continued
                                                                         f.
     d. Entitas Anak                                                          d. Subsidiary
                                                                         g.
         Sejak tanggal 28 Februari 2008, Entitas memiliki                        Since Febuary 28, 2008, the Entity has owned 90% of
         90% saham PT Spindo Engineering Industry                                the shares of PT Spindo Engineering Industry (SEI).
         (PT SEI). Entitas Anak berkedudukan di Surabaya,                        The Subsidiary domiciled in Surabaya, East Java,
         Jawa Timur, yang bergerak dalam bidang                                  which is engaged in trading, industries and services.
         perdagangan, perindustrian dan jasa.

         Ringkasan informasi keuangan Entitas Anak adalah                        The summary of financial information of the
         sebagai berikut:                                                        Subsidiary is as follows:

                                                       2024                        2023

         Jumlah agregat aset                                  1.136                       1.067               Total aggregate assets
         Jumlah agregat liabilitas                            1.003                         745           Total aggregate liabilities
         Jumlah agregat penjualan neto                          132                          54            Total aggregate net sales
         Jumlah agregat rugi                                                                                         Total aggregate
           tahun berjalan                                     (188)                       (285)                   loss for the year
         Jumlah agregat rugi                                                                          Total aggrgate comprehensive
           komprehensif tahun berjalan                        (188)                       (285)                   loss for the year

     e. Dewan Komisaris, Direksi, Komite Audit dan                            e. Board of Commissioners,           Directors,   Audit
        Karyawan                                                                 Committee and Employees

         Susunan Dewan Komisaris dan Direksi Entitas pada                        The Entity’s Board of Commissioners and Directors
         31 Desember 2024 dan 2023 adalah sebagai berikut:                       as December 31, 2024 and 2023 are as follows:

                                                 31 Desember 2024/December 31, 2024
         Dewan Komisaris                                                                                    Board of Commissioners
         Komisaris Utama                     :            Makmur Widjaja                      :              President Commissioner
         Komisaris                           :        Entario Widjaja Susanto                 :                      Commissioners
         Komisaris Independen                :       Bing Hartono Poernomosidi                :           Independent Commissioner
                                                           Welly Tantono

         Direksi                                                                                                            Directors
         Direktur Utama                      :              Ibnu Susanto                      :                    President Director
         Wakil Direktur Utama*               :        Tedja Sukmana Hudianto                  :              Vice President Director*
         Direktur                            :        Soediarto Soerjoprahono                 :                             Directors
                                                       The, Hanny Purnomo
                                                           Nico Gunawan


                                                 31 Desember 2023/December 31, 2023
         Dewan Komisaris                                                                                    Board of Commissioners
         Komisaris Utama                     :            Makmur Widjaja                      :              President Commissioner
         Komisaris                           :          Endang Fifi Susanto                   :                      Commissioners
         Komisaris Independen                :       Bing Hartono Poernomosidi                :           Independent Commissioner
                                                           Welly Tantono

         Direksi                                                                                                            Directors
         Direktur Utama                      :              Ibnu Susanto                      :                    President Director
         Wakil Direktur Utama*               :        Tedja Sukmana Hudianto                  :              Vice President Director*
         Direktur                            :            Tikman Utomo                        :                             Directors
                                                      Soediarto Soerjoprahono
                                                       The, Hanny Purnomo




                                                               11
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in Millions of Rupiah, unless otherwise stated)
1.   UMUM - Lanjutan                                               1.      GENERAL - Continued
                                                                        h.
     e. Dewan Komisaris, Direksi, Komite Audit dan                      i. e. Board of Commissioners, Directors,              Audit
        Karyawan - Lanjutan                                                   Committee and Employees - Continued

         Berdasarkan surat keputusan No. 003/XII/Kom-                         Based on decision letter No. 003/XII/Kom-
         ISSP/2024 tanggal 6 Desember 2024, tentang                           ISSP/2024 dated December 6, 2024, regarding
         perubahan susunan komite audit.                                      changes in the composition of the audit committee.

         Pada tanggal 31 Desember 2024 dan 2023, susunan                      As of December 31, 2024 and 2023, the composition
         komite audit Entitas adalah sebagai berikut:                         of audit committee is as follows:

                                              31 Desember 2024/December 31, 2024
         Komite Audit                                                                                             Committee Audit
         Ketua Komite Audit              :               Welly Tantono                        :             Head of Audit Committe
         Anggota                         :              Antonius Karamoy                      :                           Members
                                                       Yoshinori Nishimoto

                                              31 Desember 2023/December 31, 2023
         Komite Audit                                                                                             Committee Audit
         Ketua Komite Audit              :                Welly Tantono                       :             Head of Audit Committe
         Anggota                         :              Antonius Karamoy                      :                           Members
                                                  Bastianus Fritz Josef Lumanauw

         Jumlah total karyawan yang dimiliki Entitas dan                      The Entity and Subsidiary had total number of
         Entitas Anak adalah sejumlah 995 dan 1.020 masing                    employees of 995 and 1,020 as of December 31, 2024
         - masing pada tanggal 31 Desember 2024 dan 2023                      and 2023, respectively (unaudited).
         (tidak diaudit).

         *) Membawahi bidang akuntansi dan keuangan                           *) In charge of accounting and finance


2.   PENERAPAN     PERNYATAAN      STANDAR                         2.     ADOPTION   OF    NEW    AND   REVISED
     AKUNTANSI KEUANGAN (“PSAK”) DAN                                      STATEMENTS OF FINANCIAL ACCOUNTING
     INTERPRETASI    STANDAR     AKUNTANSI                                STANDARDS (“PSAK”) AND INTERPRETATION
     KEUANGAN (“ISAK”) BARU DAN REVISI                                    TO FINANCIAL ACCOUNTING STANDARDS
                                                                          (“ISAK”)

     a. Standar (SAK) dan Interpretasi Standar                            a. Standards (SAK) and Interpretation to Financial
        Akuntansi Keuangan (ISAK) yang Diterbitkan                           Accounting Standards (ISAK) Issued and Effective
        dan Berlaku Efektif Dalam Periode Berjalan                           in the Current Period (on or after January 1, 2024)
        (pada atau setelah 1 Januari 2024)

         Dalam periode berjalan, Entitas dan Entitas Anak                     In the current period, the Entity’s and Subsidiary has
         telah menerapkan standar akuntansi keuangan                          adopted all of the new and revised financial
         (“SAK”) dan intrepretasi standar akuntansi                           accounting standards (SAK) and interpretation to
         keuangan (“ISAK”) baru dan revisi termasuk                           financial accounting standards (ISAK) including
         pengesahan amandemen dan penyesuaian tahunan                         amendment and annual improvements issued by the
         yang dikeluarkan oleh Dewan Standar Akuntansi                        Board of Financial Accounting Standards of the
         Keuangan Ikatan Akuntan Indonesia yang dianggap                      Indonesian Institute of Accountants that are relevant
         relevan dengan kegiatan operasinya dan                               to their operations and affected to the consolidated
         mempengaruhi laporan keuangan konsolidasian                          financial statements effective for accounting period
         berlaku efektif untuk periode tahun buku yang                        beginning on or after January 1, 2024.
         dimulai pada atau setelah 1 Januari 2024.

         SAK dan ISAK baru dan revisi termasuk                                New and revised SAK and ISAK including
         pengesahan amandemen dan penyesuaian tahunan                         amendments and annual improvements effective in
         yang berlaku efektif dalam periode berjalan adalah                   the current period are as follows:
         sebagai berikut:




                                                              12
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                        STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                    As of and For The Year Ended
31 Desember 2024                                                                                         December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
2.   PENERAPAN    PERNYATAAN    STANDAR                              2.     ADOPTION       OF    NEW AND  REVISED
     AKUNTANSI KEUANGAN (“PSAK”) DAN                                        STATEMENTS OF FINANCIAL ACCOUNTING
     INTERPRETASI   STANDAR   AKUNTANSI                                     STANDARDS (“PSAK”) AND INTERPRETATION
     KEUANGAN (“ISAK”) BARU DAN REVISI –                                    TO FINANCIAL ACCOUNTING STANDARDS
     Lanjutan                                                               (“ISAK”) – Continued

     a. Standar (SAK) dan Interpretasi Standar                              a. Standards (SAK) and Interpretation to Financial
        Akuntansi Keuangan (ISAK) yang Diterbitkan                             Accounting Standards (ISAK) Issued and Effective
        dan Berlaku Efektif Dalam Periode Berjalan                             in the Current Period (on or after January 1, 2024)
        (pada atau setelah 1 Januari 2024) – Lanjutan                          – Continued

         -   Amendemen PSAK 116: Sewa. Amendemen                                -   Amendment to PSAK 116: Leases. Amendments
             tentang liabilitas sewa dalam jual dan sewa                            on lease liabilities in sale and leaseback. This
             balik. Amendemen ini mengatur pengukuran                               amendment regulates subsequent measurement
             selanjutnya atas transaksi jual dan sewa balik.                        of sale and leaseback transactions.

         -   Amendemen PSAK 201: Penyajian Laporan                              -   Amendment to PSAK 201: Presentation of
             Keuangan. Amendemen tentang liabilitas jangka                          Financial Statements. Amendments on long-term
             panjang dengan kovenan. Amendemen ini                                  liabilities with covenants. This amendment
             mengatur bahwa hanya kovenan yang harus                                stipulates that only covenants that an entity must
             dipatuhi entitas pada atau sebelum tanggal                             comply with on or before the reporting date will
             pelaporan yang akan memengaruhi klasifikasi                            affect the classification of short-term or long-
             liabilitas jangka pendek atau jangka panjang                           term liabilities and their disclosure.
             serta pengungkapannya.

         -   Amendemen PSAK 207: Laporan Arus Kas dan                           -   Amendments to PSAK 207: Cash Flow Statement
             PSAK      107:    Instrumen      Keuangan:                             and PSAK 107: Financial Instruments:
             Pengungkapan. Amendemen tentang pengaturan                             Disclosures. Amendments on supplier financing
             pembiayaan pemasok. Amendemen ini                                      arrangements. These amendments clarify
             memperjelas pengungkapan terkait pengaturan                            disclosures related to supplier financing
             pembiayaan pemasok.                                                    arrangements.

     b. Standar (SAK) dan Interpretasi Standar                              b. Standards (SAKs) and Interpretation to Financial
        Akuntansi Keuangan (ISAK) yang Diterbitkan                             Accounting Standards (ISAKs) Issued but not
        Namun Belum Berlaku Efektif Dalam Periode                              Effective in the Current Period
        Berjalan

         -   Amendemen PSAK 221: Pengaruh Perubahan                             -   Amendment to PSAK 221: Effect of Changes in
             Kurs Valuta Asing. Amendemen tentang                                   Foreign Exchange Rates. Amendment on lack of
             kekurangan ketertukaran. Amendemen ini                                 convertibility. This amendment clarifies the
             memperjelas pengaturan terkait kondisi ketika                          provisions related to conditions when a currency
             suatu mata uang tidak tertukarkan serta                                is not convertible and its disclosure, effective on
             pengungkapannya, berlaku efektif pada atau                             or after January 1, 2025.
             setelah tanggal 1 Januari 2025.

         -   PSAK 117 memperkenalkan Pendekatan Block                           -   PSAK 117 introduces the Block Building
             Building, yang dimodifikasi untuk kontrak                              Approach, which is modified for insurance
             asuransi dengan fitur partisipasi langsung, yang                       contracts with direct participation features,
             digambarkan sebagai Pendekatan Biaya                                   described as a Variable Fee Approach. There is
             Variabel. Terdapat penyederhanaan jika kriteria                        simplification if certain criteria are met by using
             tertentu terpenuhi dengan menggunakan                                  the Premium Allocation Approach. This PSAK
             Pendekatan Alokasi Premi. PSAK 117 ini                                 117 is effective for the annual reporting period
             berlaku efektif untuk periode pelaporan tahunan                        beginning on or after January 1, 2025 with early
             yang dimulai pada atau setelah tanggal 1 Januari                       application permitted.
             2025 dengan penerapan dini diperbolehkan.

         -   Amendemen PSAK 117: Kontrak Asuransi –                             -   Amendment to PSAK 117 – Insurance Contracts
             Penerapan Awal PSAK 117 dan PSAK 109 -                                 – Initial Application of PSAK 117 and PSAK 109
             Informasi Komparatif, berlaku efektif ketika                           – Comparative Information, effective when the
             entitas pertama kali menerapkan PSAK 117.                              entity first applies PSAK 117.




                                                                13
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
2.   PENERAPAN    PERNYATAAN    STANDAR                             2.     ADOPTION       OF    NEW AND  REVISED
     AKUNTANSI KEUANGAN (“PSAK”) DAN                                       STATEMENTS OF FINANCIAL ACCOUNTING
     INTERPRETASI   STANDAR   AKUNTANSI                                    STANDARDS (“PSAK”) AND INTERPRETATION
     KEUANGAN (“ISAK”) BARU DAN REVISI –                                   TO FINANCIAL ACCOUNTING STANDARDS
     Lanjutan                                                              (“ISAK”) – Continued

     b. Standar (SAK) dan Interpretasi Standar                             b. Standards (SAKs) and Interpretation to Financial
        Akuntansi Keuangan (ISAK) yang Diterbitkan                            Accounting Standards (ISAKs) Issued but not
        Namun Belum Berlaku Efektif Dalam Periode                             Effective in the Current Period – Continued
        Berjalan – Lanjutan

         Beberapa dari SAK dan ISAK termasuk amandemen                         Several SAKs and ISAKs including amendments and
         dan peyesuaian tahunan yang berlaku dalam tahun                       annual improvements that became effective in the
         berjalan dan relevan dengan kegiatan Entitas dan                      current year and are relevant to the Entity’s and
         Entitas Anak telah diterapkan sebagaimana                             Subsidiary’s operation have been adopted as
         dijelaskan dalam “Informasi Kebijakan Akuntansi                       disclosed in the “Material Accounting Polices
         Material”.                                                            Information”.

         Beberapa SAK dan ISAK lainnya yang tidak relevan                      Other SAKs and ISAKs that are not relevant to the
         dengan kegiatan Entitas dan Entitas Anak atau                         Entity’s and Subsidiary’s operation or might affect
         mungkin      akan     mempengaruhi        kebijakan                   the accounting policies in the future are being
         akuntansinya dimasa depan sedang dievaluasi oleh                      evaluated by the management the potential impact
         manajemen potensi dampak yang mungkin timbul                          that might arise from the adoption of these standards
         dari penerapan standar-standar ini terhadap laporan                   to the consolidated financial statements.
         keuangan konsolidasian.


3.   INFORMASI           KEBIJAKAN           AKUNTANSI              3.     MATERIAL             ACCOUNTING              POLICIES
     MATERIAL                                                              INFORMATION

     Kebijakan akuntansi diterapkan secara konsisten dalam                 The accounting policies have been applied consistently in
     penyajian laporan keuangan konsolidasian kecuali bagi                 the preparation of consolidated financial statements
     penerapan beberapa SAK yang telah direvisi dan berlaku                except for the adoption of several new and revised SAKs
     efektif sejak tanggal 1 Januari 2024, yaitu sebagai                   and ISAKs that effective on or after January 1, 2024, as
     berikut:                                                              follows:

     a. Pernyataan Kepatuhan                                               a. Statement of Compliance

         Laporan keuangan telah disusun dan disajikan sesuai                   The financial statements have been prepared and
         dengan SAK, yang mencakup Pernyataan dan                              presented in accordance with SAK, which comprises
         Interpretasi yang diterbitkan oleh Dewan Standar                      the Statements and Interpretations issued by the
         Akuntansi Keuangan Ikatan Akuntan Indonesia,                          Board of Financial Accounting Standards of the
         termasuk standar baru dan yang direvisi,                              Indonesian Institute of Accountants, including
         amandemen dan penyesuaian tahunan, yang berlaku                       applicable new and revised standards, amendments
         efektif sejak tanggal 1 Januari 2024 serta Lampiran                   and annual improvements, effective on or after
         Keputusan Ketua Badan Pengawasan Pasar Modal                          January 1, 2024 and Attachment to the Decision of
         dan Lembaga Keuangan (sekarang menjadi Otoritas                       the Chairman of Bapepam – LK (now becoming
         Jasa Keuangan atau OJK) No. Kep-347/BL/2012                           Indonesian Financial Services Authority or OJK) No.
         tanggal 25 Juni 2012 yaitu Peraturan No.VIII.G.7                      Kep-347/BL/2012 dated June 25, 2012 that is
         tentang Penyajian dan Pengungkapan Laporan                            Regulation No.VIII.G.7 regarding Presentation and
         Keuangan yang diterbitkan oleh Otoritas Jasa                          Disclosures of the Financial Statements issued by the
         Keuangan (OJK) (dahulu Badan Pengawas Pasar                           Financial Services Authority (OJK) (formerly
         Modal dan Lembaga Keuangan (BAPEPAM-LK))                              Capital Market and Financial Institutions
         untuk perusahaan publik.                                              Supervisory Agency (BAPEPAM-LK)) for publicly
                                                                               listed companies.




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ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                   AKUNTANSI              3.     MATERIAL       ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                     INFORMATION - Continued

     b. Dasar     Penyusunan         Laporan       Keuangan                a. b. Basis of Preparation of Consolidated Financial
        Konsolidasian                                                            Statements

         Laporan      keuangan      konsolidasian    disusun                     The consolidated financial statements have been
         berdasarkan asumsi kelangsungan usaha serta atas                        prepared on the assumption of going concern and
         dasar akrual, kecuali laporan arus kas konsolidasian                    accrual basis except for consolidated statements of
         yang menggunakan dasar kas.                                             cash flows using cash basis.

         Dasar pengukuran dalam penyusunan laporan                               The measurement in the preparation of consolidated
         keuangan konsolidasian ini adalah konsep biaya                          financial statements is historical cost concept, except
         perolehan (historical cost), kecuali untuk beberapa                     for certain accounts which are measured on the basis
         akun tertentu yang didasarkan pengukuran lain                           described in the related accounting policies of
         sebagaimana yang diungkapkan pada kebijakan                             respective account.
         akuntansi dalam masing-masing akun tersebut.

         Laporan arus kas konsolidasian disusun dengan                           The consolidated statements of cash flows, which
         menggunakan metode langsung (direct method)                             have been prepared using the direct method, present
         dengan mengelompokkan arus kas dalam aktivitas                          cash receipts and payments classified into operating,
         operasi, investasi dan pendanaan.                                       investing and financing activities.

         Mata uang pelaporan yang digunakan dalam laporan                        The reporting currency used in the preparation of the
         keuangan konsolidasian adalah Rupiah (Rp) yang                          consolidated financial statements is Rupiah (Rp)
         juga merupakan mata uang fungsional Entitas dan                         which also represents functional currency of the
         Entitas Anak.                                                           Entity’s and Subsidiary.

         Ketika entitas menerapkan suatu kebijakan                               When the entity adopts accounting policy
         akuntansi secara restrospektif atau membuat                             retrospectively or restates items in its financial
         penyajian kembali pos-pos laporan keuangan atau                         statements or the entity reclassifies the items in its
         ketika entitas mereklasifikasi pos-pos dalam laporan                    financial statements, the statement of financial
         keuangannya maka entitas menyajikan kembali                             position at the beginning of comparative period is
         laporan posisi keuangan pada awal periode                               presented.
         komparatif yang disajikan.

     c. Prinsip-prinsip Konsolidasian                                        c. Principles of Consolidation

         Entitas menerapkan PSAK 110 "Laporan Keuangan                           The Entity applied PSAK 110 “Consolidated
         Konsolidasian". PSAK ini mensyaratkan entitas                           Financial Statements”. This PSAK requires a parent
         induk (entitas yang mengendalikan satu atau lebih                       entity (an entity that controls one or more other
         entitas lain) untuk menyajikan laporan keuangan                         entities) to present consolidated financial statements.
         konsolidasian. Investor menentukan apakah investor                      An investor determines whether it is a parent by
         merupakan entitas induk dengan menilai apakah                           assessing whether it controls one or more investees.
         investor mengendalikan satu atau lebih investee.                        An investor considers all relevant facts and
         Investor mempertimbangkan seluruh fakta dan                             circumstances when assessing whether it controls an
         keadaan yang relevan ketika menilai apakah investor                     investee.
         mengendalikan investee.

         Investor mengendalikan investee ketika investor                         Control is achieved when the investor is exposed or
         terekspos atau memiliki hak atas imbal hasil variabel                   has rights, to variable returns from its involvement
         dari keterlibatannya dengan investee dan memiliki                       with the investee and has the ability to affect those
         kemampuan untuk mempengaruhi imbal hasil                                returns through its power over the investee.
         tersebut melalui kekuasaannya atas investee.

         Laporan keuangan konsolidasian:                                         Consolidated financial statements:
         - menggabungkan item sejenis seperti aset,                              - combine like items of assets, liabilities, equity,
            liabilitas, ekuitas, penghasilan, beban dan arus                        income, expenses and cash flows of the parent
            kas dari entitas induk dengan entitas anaknya;                          with those of its subsidiaries;




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                  PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                             ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                           STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                       As of and For The Year Ended
31 Desember 2024                                                                                            December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                    AKUNTANSI               3.     MATERIAL       ACCOUNTING                       POLICIES
     MATERIAL - Lanjutan                                                       INFORMATION - Continued

     c.   Prinsip-prinsip Konsolidasian - Lanjutan                             c. Principles of Consolidation - Continued

          -   menghapus (mengeliminasi) jumlah tercatat dari                       -    offset (eliminate) the carrying amount of the
              investasi entitas induk di setiap entitas anak dan                        parent's investment in each subsidiary and the
              bagian entitas induk pada ekuitas setiap entitas                          parent's portion of equity of each subsidiary;
              anak;
          -   mengeliminasi secara penuh aset dan liabilitas,                      -    eliminate in full intragroup assets and liabilities,
              ekuitas, penghasilan, beban dan arus kas dalam                            equity, income, expenses and cash flows relating
              intra kelompok usaha yang berkaitan dengan                                to transactions between entities of the Group.
              transaksi antara entitas-entitas dalam Kelompok
              Usaha.

          Entitas pelapor memasukkan penghasilan dan beban                         A reporting entity includes the income and expenses
          entitas anak dalam laporan keuangan konsolidasian                        of a subsidiary in the consolidated financial
          dari tanggal diperolehnya pengendalian sampai                            statements from the date it gains control until the date
          dengan tanggal ketika entitas kehilangan                                 when the reporting entity ceases to control the
          pengendalian atas entitas anak. Penghasilan dan                          subsidiary. Income and expenses of the subsidiary
          beban entitas anak didasarkan pada jumlah aset dan                       are based on the amounts of the assets and liabilities
          liabilitas yang diakui dalam laporan keuangan                            recognized in the consolidated financial statements at
          konsolidasian pada tanggal akuisisi.                                     the acquisition date.

          Entitas induk dan entitas anaknya disyaratkan untuk                      The parent and subsidiaries are required to have the
          mempunyai kebijakan akuntansi dan tanggal                                same accounting policies and reporting dates, or
          pelaporan yang sama, atau konsolidasian                                  consolidation based on additional financial
          berdasarkan informasi keuangan tambahan yang                             information prepared by subsidiary.
          dibuat entitas anak.

          Entitas induk menyajikan NCI di laporan posisi                           A parent presents NCIs in its consolidated statement
          keuangan konsolidasiannya dalam ekuitas, terpisah                        of financial position within equity, separately from
          dari ekuitas pemilik entitas.                                            the equity of the owners of the parent.

          Entitas mengatribusikan laba rugi dan setiap                             Profit or loss and each component of OCI are
          komponen dari penghasilan komprehensif lain                              attributed to the equity holders of the parent of the
          kepada pemilik entitas induk dari kelompok usaha                         group and to the NCI, even if this results in the NCI
          dan NCI, meskipun hal tersebut mengakibatkan NCI                         having a deficit balance on the basis of present
          memiliki saldo defisit atas dasar kepentingan                            ownership interests.
          kepemilikan sekarang.

          Perubahan kepemilikan entitas dalam entitas anak                         Changes in a parent's ownership interest in a
          yang tidak menghasilkan kehilangan pengendalian                          subsidiary that do not result in the parent losing
          di entitas anak adalah transaksi ekuitas (yaitu                          control of the subsidiary are equity transactions (i.e.
          transaksi dengan pemilik dalam kapasitasnya                              transactions with owners in their capacity as
          sebagai pemilik). Ketika proporsi ekuitas yang                           owners). When the proportion of the equity held by
          dimiliki oleh NCI berubah, entitas menyesuaikan                          NCI’s changes, the carrying amounts of the
          jumlah tercatat kepentingan pengendali dan NCI                           controlling and NCI’s are adjusted to reflect the
          untuk mencerminkan perubahan kepemilikan                                 changes in their relative interests in the subsidiary.
          relatifnya dalam entitas anak. Entitas tersebut                          Any difference between the amount by which the
          mengakui secara langsung dalam ekuitas setiap                            NCI’s are adjusted and the fair value of the
          perbedaan antara jumlah tercatat NCI yang                                consideration paid or received is recognized directly
          disesuaikan dan nilai wajar imbalan yang dibayar                         in equity and attributed to the owners of the parent.
          atau diterima, dan mengatribusikannya kepada
          pemilik entitas induk.

          Jika entitas induk kehilangan pengendalian atas                          If loss control over Subsidiary, the parent entity:
          entitas anak, maka entitas induk:
          a. menghentikan pengakuan aset dan liabilitas                            a.    derecognizes the assets and liabilities of the
               entitas anak terdahulu dari laporan posisi                                former subsidiary from the consolidated
               keuangan konsolidasian;                                                   statement of financial position;



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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                   AKUNTANSI              3.      MATERIAL       ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                      INFORMATION - Continued

     c.   Prinsip-prinsip Konsolidasian - Lanjutan                            c. Principles of Consolidation - Continued

          b.   mengakui sisa investasi apapun pada entitas                       b.   recognizes any investment retained in the former
               anak terdahulu pada saat hilangnya                                     subsidiary when control is lost and subsequently
               pengendalian dan selanjutnya mencatat sisa                             accounts for it and for any amounts owed by or
               investasi tersebut dan setiap jumlah terutang                          to the former subsidiary in accordance with
               oleh atau kepada entitas anak terdahulu sesuai                         relevant PSAKs. The retained interest is
               dengan PSAK lain yang relevan. Sisa investasi                          remeasured and the remeasured value is
               tersebut diukur kembali dan pengukuran                                 regarded as the fair value on initial recognition
               kembali tesebut dianggap sebagai nilai wajar                           of a financial asset in accordance with PSAK
               pada saat pengakuan awal aset keuangan sesuai                          239 (Revised 2014), “Financial Instruments:
               dengan PSAK 239 (Revisi 2014), “Instrumen                              Recognition and Measurement”, or, when
               Keuangan: Pengakuan dan Pengukuran”, atau,                             appropriate, the cost on initial recognition of an
               jika sesuai, biaya perolehan pada saat                                 investment in an associate or joint venture;
               pengakuan awal investasi pada entitas asosiasi
               atau ventura bersama;
          c.   mengakui keuntungan atau kerugian terkait                         c.   recognizes the gain or loss associated with the
               dengan hilangnya pengendalian yang dapat                               loss of control attributable to the former
               diatribusikan pada kepentingan pengendali                              controlling interest.
               terdahulu.

     d.   Kas dan Setara Kas                                           d.    d. Cash and Cash Equivalents

          Kas adalah alat pembayaran yang siap dan bebas                         Cash is the means of payment that ready and free to
          dipergunakan untuk membiayai kegiatan Entitas dan                      be used to finance the activities of the Entity and
          Entitas Anak. Setara kas adalah investasi yang                         Subsidiary. Cash equivalents are investments that are
          sifatnya sangat likuid, berjangka pendek, dan dengan                   highly liquid, short-term, and it can quickly become
          cepat dapat dijadikan kas dalam jumlah yang dapat                      cash in the amount that can be determined and have
          ditentukan dan memiliki risiko perubahan nilai yang                    the risk of changes in value are not significant with
          tidak signifikan dengan jangka waktu tiga bulan atau                   maturities of three months or less from the date of
          kurang sejak tanggal penempatan dan tidak                              placement and not pledged as collateral or restricted
          digunakan sebagai jaminan atau tidak dibatasi                          in usage.
          penggunaannya.

          Kas di bank dan deposito berjangka yang akan                           Cash in banks and deposits that will be used to pay
          digunakan untuk membayar liabilitas yang akan                          liabilities due within 1 (one) year, is presented as part
          jatuh tempo dalam 1 (satu) tahun, disajikan sebagai                    of current assets.
          bagian dari aset lancar.

     e.   Instrumen Keuangan                                                b. e. Financial Instruments

          (1) Aset keuangan                                                      (1) Financial Assets

          Pengakuan dan Pengukuran Awal                                          Initial Recognition and Measurement

          Aset keuangan diakui pada posisi keuangan ketika                       Financial assets are recognized on the financial
          entitas menjadi pihak dalam penyediaan instrumen                       position when the entity becomes a party to the
          secara kontraktual. Semua aset keuangan diakui dan                     contractual provision of the instrument. All financial
          dihentikan pengakuannya berdasarkan tanggal                            assets are recognized and de-recognized on a trade
          perdagangan di mana pembelian atau penjualan aset                      date basis where the purchase or sale of financial
          keuangan dilakukan berdasarkan kontrak yang                            assets is under a contract whose terms require
          persyaratannya mengharuskan penyerahan aset                            delivery of assets within the time frame established by
          dalam jangka waktu yang ditetapkan oleh pasar yang                     the market concerned
          bersangkutan.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                 AKUNTANSI              3.     MATERIAL       ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                   INFORMATION - Continued

     e. Instrumen Keuangan (Lanjutan)                                    c. e. Financial Instruments (Continued)

         (1) Aset keuangan - Lanjutan                                          (1) Financial assets - Continued

         Pengakuan dan Pengukuran Awal – Lanjutan                              Initial Recognition and Measurement - Continued

         Aset keuangan pada awalnya diukur pada nilai                          Financial assets are initially measured at fair value,
         wajar, dalam hal investasi tidak diklasifikasikan                     in the case of investments not classified as FVTPL,
         sebagai FVTPL, nilai wajar ditambah biaya transaksi                   fair value plus transaction costs that are directly
         yang dapat diatribusikan secara langsung dengan                       attributable to the acquisition or issuance of financial
         akuisisi atau penerbitan aset keuangan.                               assets.

         Semua aset keuangan yang diakui kemudian diukur                       All recognized financial assets are subsequently
         secara keseluruhan pada biaya perolehan                               measured in their entirety at either amortized cost or
         diamortisasi atau nilai wajar, tergantung pada                        fair value, depending on the classification of the
         klasifikasi aset keuangan tersebut.                                   financial assets.

         Pengukuran Selanjutnya                                                Subsequent Measurement

         Instrumen utang yang memenuhi kondisi berikut                         Debt instruments that meet the following conditions
         diukur pada biaya perolehan diamortisasi:                             are subsequently measured at amortized cost:
         - aset keuangan dimiliki dalam model bisnis yang                      - the financial asset is held within a business model
             bertujuan untuk memiliki aset keuangan untuk                         whose objective is to hold financial assets in order
             mengumpulkan arus kas kontraktual; dan                               to collect contractual cash flows; and
         - Persyaratan kontraktual dari aset keuangan                          - the contractual terms of the financial asset give
             menimbulkan arus kas pada tanggal tertentu yang                      rise on specified dates to cash flows that are solely
             hanya merupakan pembayaran pokok dan bunga                           payments of principal and interest on the principal
             dari jumlah pokok terutang.                                          amount outstanding.

         Instrumen utang yang memenuhi ketentuan berikut                       Debt instruments that meet the following conditions
         ini selanjutnya diukur pada nilai wajar melalui                       are subsequently measured at fair value through
         penghasilan komprehensif lain (FVOCI):                                other comprehensive income (FVOCI):

         - aset keuangan dimiliki dalam model bisnis yang                      - the financial asset is held within a business model
           tujuannya dicapai dengan mengumpulkan arus                            whose objective is achieved by both collecting
           kas kontraktual dan menjual aset keuangan; dan                        contractual cash flows and selling the financial
                                                                                 assets; and
         - Persyaratan kontraktual dari aset keuangan                          - the contractual terms of the financial asset give
           menimbulkan arus kas pada tanggal tertentu yang                       rise on specified dates to cash flows that are solely
           hanya merupakan pembayaran pokok dan bunga                            payments of principal and interest on the principal
           dari jumlah pokok terutang.                                           amount outstanding.

         Semua aset keuangan lain yang tidak                                   All other financial assets that are not classified as
         diklasifikasikan     sebagai     biaya    perolehan                   amortized cost or FVOCI are subsequently measured
         diamortisasi atau FVOCI selanjutnya diukur pada                       at fair value through profit or loss (FVTPL).
         nilai wajar melalui laporan laba rugi (FVTPL).




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ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                        STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                    As of and For The Year Ended
31 Desember 2024                                                                                         December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI              3.     MATERIAL       ACCOUNTING                    POLICIES
     MATERIAL - Lanjutan                                                    INFORMATION - Continued

     e. Instrumen Keuangan (Lanjutan)                                     d. e. Financial Instruments (Continued)

         (1) Aset keuangan - Lanjutan                                           (1) Financial assets - Continued

         Pengukuran Selanjutnya - Lanjutan                                     Subsequent Measurement – Continued

         Entitas dan Entitas Anak dapat membuat penetapan                       The Entity’s and Subsidiary may make the following
         yang tidak dapat dibatalkan berikut ini pada                           irrevocable designation at initial recognition of a
         pengakuan awal aset keuangan:                                          financial asset:
         - Entitas dan Entitas Anak dapat memilih yang                          - the Group may irrevocably elect to present
            tidak dapat dibatalkan untuk menyajikan                                subsequent changes in fair value of an equity
            perubahan berikutnya dalam nilai wajar dari                            investment in FVOCI (no recycling) if meet
            investasi ekuitas dalam FVOCI (tanpa klasifikasi                       certain criteria; and
            kembali) jika memenuhi kriteria tertentu; dan
         - Entitas dan Entitas Anak dapat menetapkan                            - the Entity’s and Subsidiary may irrevocably
            investasi utang yang tidak dapat dibatalkan yang                      designate a debt investment that meets the
            memenuhi biaya perolehan diamortisasi atau                            amortized cost or FVOCI criteria as measured at
            kriteria FVOCI sebagai yang diukur pada FVTPL                         FVTPL if doing so eliminates or significantly
            jika tindakan tersebut menghilangkan atau secara                      reduces an accounting mismatch.
            signifikan mengurangi inkonsistensi akuntansi.

         Dalam tahun berjalan, Entitas dan Entitas Anak tidak                   In the current year, the Entity’s and Subsidiary has
         ada penetapan investasi utang yang memenuhi biaya                      neither designated any debt investments that meet the
         perolehan diamortisasi atau kriteria FVOCI sebagai                     amortized cost or FVOCI criteria as measured at
         yang diukur pada FVTPL maupun investasi ekuitas                        FVTPL nor any equity investment as FVOCI.
         sebagai FVOCI.

         Biaya Perolehan Diamortisasi dan Metode Bunga                         Amortized Cost and Effective Interest Method
         Efektif

         Biaya perolehan diamortisasi dari aset keuangan                       The amortized cost of a financial asset is the amount
         adalah jumlah di mana aset keuangan diukur pada                       at which the financial asset is measured at initial
         pengakuan awal dikurangi pembayaran pokok,                            recognition minus the principal repayments, plus the
         ditambah       amortisasi      kumulatif     dengan                   cumulative amortization using the effective interest
         menggunakan metode suku bunga efektif dari setiap                     method of any difference between that initial amount
         perbedaan antara jumlah awal dan jumlah jatuh                         and the maturity amount, adjusted for any loss
         tempo, disesuaikan dengan penyisiahn kerugian. Di                     allowance. On the other hand, the gross carrying
         sisi lain, jumlah tercatat bruto dari aset keuangan                   amount of a financial asset is the amortized cost of a
         adalah biaya perolehan diamortisasi dari aset                         financial asset before adjusting for any loss
         keuangan sebelum disesuaikan dengan penyisihan                        allowance.
         kerugian.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                        STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                    As of and For The Year Ended
31 Desember 2024                                                                                         December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI              3.     MATERIAL       ACCOUNTING                       POLICIES
     MATERIAL - Lanjutan                                                    INFORMATION - Continued

     e. Instrumen Keuangan (Lanjutan)                                     e. e. Financial Instruments (Continued)

         (1) Aset keuangan - Lanjutan                                          (1) Financial assets - Continued

         Pengukuran Selanjutnya - Lanjutan                                     Subsequent Measurement – Continued

         Biaya Perolehan Diamortisasi dan Metode Bunga                         Amortized Cost and Effective Interest Method -
         Efektif – Lanjutan                                                    Continued

         Pendapatan bunga diakui dengan menggunakan                            Interest income is recognized using the effective
         metode suku bunga efektif untuk instrumen utang                       interest method for debt instruments measured
         yang diukur kemudian pada biaya perolehan                             subsequently at amortized cost and at FVOCI. For
         diamortisasi dan pada FVOCI. Untuk instrumen                          financial instruments other than purchased or
         keuangan selain yang dibeli atau yang berasal dari                    originated credit-impaired financial assets, interest
         aset keuangan memburuk, pendapatan bunga                              income is calculated by applying the effective interest
         dihitung dengan menggunakan suku bunga efektif                        rate to the gross carrying amount of a financial asset
         terhadap jumlah tercatat bruto dari aset keuangan                     (gross basis), except for financial assets that have
         (basis bruto), kecuali untuk aset keuangan yang                       subsequently become credit-impaired. For financial
         kemudian mengalami penurunan nilai kredit. Untuk                      assets that have subsequently become credit-
         aset keuangan yang kemudian mengalami                                 impaired, interest income is recognized by applying
         penurunan nilai kredit, pendapatan bunga diakui                       the effective interest rate to the amortized cost of the
         dengan menerapkan suku bunga efektif pada biaya                       financial asset. If, in subsequent reporting periods, the
         perolehan diamortisasi dari aset keuangan tersebut.                   credit risk on the credit-impaired financial instrument
         Jika, pada periode pelaporan berikutnya, risiko                       improves so that the financial asset is no longer
         kredit atas instrumen keuangan yang mengalami                         credit-impaired, interest income is recognized by
         penurunan nilai kredit meningkat sehingga aset                        applying the effective interest rate to the gross
         keuangan tidak lagi mengalami penurunan nilai                         carrying amount of the financial asset.
         kredit, maka pendapatan bunga diakui dengan
         menerapkan suku bunga efektif terhadap nilai
         tercatat bruto aset keuangan.

         Metode suku bunga efektif adalah metode yang                          The effective interest method is a method of
         digunakan untuk menghitung biaya perolehan                            calculating the amortized cost of a debt instrument
         diamortisasi dari instrumen utang dan metode untuk                    and of allocating interest income over the relevant
         mengalokasikan pendapatan bunga selama periode                        period.
         yang relevan.

         Untuk instrumen keuangan selain yang dibeli atau                      For financial instruments other than purchased or
         yang berasal dari aset keuangan memburuk (yaitu                       originated credit-impaired financial assets (i.e. assets
         aset yang mengalami penurunan nilai kredit pada                       that are credit-impaired on initial recognition), the
         pengakuan awal), suku bunga efektif adalah suku                       effective interest rate is the rate that exactly discounts
         bunga yang secara tepat mendiskontokan estimasi                       estimated future cash receipts (including all fees and
         penerimaan kas masa depan (termasuk semua biaya                       points paid or received that form an integral part of
         dan poin yang dibayarkan atau diterima merupakan                      the effective interest rate, transaction costs and other
         bagian yang tidak terpisahkan dari suku bunga                         premiums or discounts) excluding expected credit
         efektif, biaya transaksi dan premi atau diskon                        losses, through the expected life of the debt
         lainnya) tidak termasuk kerugian kredit yang                          instrument, or, where appropriate, a shorter period,
         diharapkan, selama perkiraan umur dari instrumen                      to the gross carrying amount of the debt instrument on
         utang, atau, jika sesuai, periode yang lebih pendek,                  initial recognition.
         ke jumlah tercatat bruto dari instrumen hutang pada
         pengenalan awal.




                                                                20
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI             3.     MATERIAL      ACCOUNTING                     POLICIES
     MATERIAL - Lanjutan                                                   INFORMATION - Continued

     e. Instrumen Keuangan - Lanjutan                                    f. e. Financial Instruments - Continued

         (1) Aset keuangan - Lanjutan                                         (1) Financial assets - Continued

         Pengukuran Selanjutnya - Lanjutan                                    Subsequent Measurement – Continued

         Biaya Perolehan Diamortisasi dan Metode Bunga                        Amortized Cost and Effective Interest Method -
         Efektif – Lanjutan                                                   Continued

         Untuk aset keuangan yang dibeli atau yang berasal                    For purchased or originated credit-impaired
         dari aset keuangan memburuk, Entitas dan Entitas                     financial assets, the Entity’s and Subsidiary
         Anak mengakui pendapatan bunga dengan                                recognizes interest income by applying the credit-
         menerapkan suku bunga efektif yang disesuaikan                       adjusted effective interest rate to the amortized cost
         dengan kredit ke biaya perolehan diamortisasi dari                   of the financial asset from initial recognition. The
         aset keuangan tersebut sejak pengakuan awal.                         calculation does not revert to the gross basis even if
         Penghitungan tidak kembali ke basis bruto meskipun                   the credit risk of the financial asset subsequently
         risiko kredit dari aset keuangan kemudian membaik                    improves so that the financial asset is no longer
         sehingga aset keuangan tidak lagi memburuk.                          credit-impaired.

         Pendapatan bunga diakui dalam laporan laba rugi                      Interest income is recognized in profit or loss and is
         dan dimasukkan dalam item baris "Pendapatan                          included in the "Finance Income – Interest Income"
         Keuangan - Pendapatan Bunga".                                        line item.

         Investasi dalam Instrumen           Utang    Yang                    Investment in Debt Instruments Classified as at
         Diklasifikasikan sebagai FVOCI                                       FVOCI

         Instrumen utang pada awalnya diukur pada nilai                       The debt instruments are initially measured at fair
         wajar ditambah biaya transaksi. Selanjutnya,                         value plus transaction costs. Subsequently, changes
         perubahan nilai tercatat instrumen utang sebagai                     in the carrying amount of the debt instruments as a
         akibat dari keuntungan dan kerugian selisih kurs,                    result of foreign exchange gains and losses,
         keuntungan atau kerugian penurunan nilai, dan                        impairment gains or losses, and interest income
         pendapatan bunga yang dihitung dengan                                calculated using the effective interest method are
         menggunakan metode suku bunga efektif, diakui                        recognized in profit or loss. The amounts that are
         dalam laporan laba rugi. Jumlah yang diakui dalam                    recognized in profit or loss are the same as the
         laba rugi sama dengan jumlah yang akan diakui                        amounts that would have been recognized in profit or
         dalam laporan laba rugi jika aset keuangan tersebut                  loss if these financial assets had been measured at
         diukur dengan biaya perolehan diamortisasi. Semua                    amortized cost. All other changes in the carrying
         perubahan lain dalam nilai tercatat dari aset                        amount of these financial assets are recognized in
         keuangan tersebut diakui dalam penghasilan                           other comprehensive income and accumulated under
         komprehensif lain dan diakumulasi dalam akun                         the heading of investments revaluation reserve. When
         cadangan revaluasi investasi. Ketika aset keuangan                   these financial assets are derecognized, the
         ini dihentikan pengakuannya, keuntungan atau                         cumulative gains or losses previously recognized in
         kerugian kumulatif yang sebelumnya diakui dalam                      other comprehensive income are reclassified to profit
         penghasilan komprehensif lain akan direklasifikasi                   or loss.
         ke laba rugi.

         Investasi dalam Instrumen          Ekuitas   Yang                    Investment in Equity Instruments Designated as at
         Ditetapkan pada FVOCI                                                FVOCI

         Pada pengakuan awal, Entitas dan Entitas Anak                        On initial recognition, the Entity’s and Subsidiary
         dapat membuat pemilihan yang tidak dapat                             may make an irrevocable election (on an instrument-
         dibatalkan (atas dasar instrumen per instrumen)                      by-instrument basis) to designate investments in
         untuk menetapkan investasi pada instrumen ekuitas                    equity instruments as at FVOCI. Designation at
         sebagai pada FVOCI. Penetapan FVOCI tidak                            FVOCI is neither permitted if the equity investment is
         diperkenankan jika investasi ekuitas dimiliki untuk                  held for trading nor if it is contingent consideration
         diperdagangkan atau jika merupakan imbalan                           recognized by an acquirer in a business combination
         kontinjensi yang diakui oleh pihak pengakuisisi                      to which PSAK 103 applies.
         dalam kombinasi bisnis yang menerapkan PSAK
         103.


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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI               3.     MATERIAL       ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                     INFORMATION - Continued

     e. Instrumen Keuangan - Lanjutan                                      g. e. Financial Instruments - Continued

         (1) Aset keuangan - Lanjutan                                           (1) Financial assets - Continued

         Pengukuran Selanjutnya - Lanjutan                                      Subsequent Measurement – Continued

         Investasi dalam Instrumen Ekuitas              Yang                    Investment in Equity Instruments Designated as at
         Ditetapkan pada FVOCI – Lanjutan                                       FVOCI – Continued

         Aset keuangan dimiliki untuk diperdagangkan jika:                      A financial asset is held for trading if:
         - diakuisisi terutama untuk tujuan menjualnya                          - it has been acquired principally for the purpose of
           dalam waktu dekat; atau                                                  selling it in the near term; or
         - pada pengakuan awal, ini merupakan bagian dari                       - on initial recognition it is part of a portfolio of
           portofolio instrumen keuangan teridentifikasi                            identified financial instruments that the Entity’s
           yang dikelola bersama oleh Entitas dan Entitas                           and Subsidiary manages together and has
           Anak dan memiliki bukti pola pengambilan laba                            evidence of a recent actual pattern of short-term
           jangka pendek aktual terkini; atau                                       profit-taking; or
         - merupakan derivatif (kecuali untuk derivatif yang                    - it is a derivative (except for a derivative that is a
           merupakan kontrak jaminan keuangan atau                                  financial guarantee contract or a designated and
           instrumen lindung nilai yang ditetapkan dan                              effective hedging instrument).
           efektif).

         Investasi dalam instrumen ekuitas pada FVOCI pada                      Investments in equity instruments at FVOCI are
         awalnya diukur pada nilai wajar ditambah biaya                         initially measured at fair value plus transaction costs.
         transaksi. Selanjutnya, nilai wajar tersebut diukur                    Subsequently, they are measured at fair value with
         pada nilai wajar dengan keuntungan dan kerugian                        gains and losses arising from changes in fair value
         yang timbul dari perubahan nilai wajar diakui dalam                    recognized in other comprehensive income and
         penghasilan komprehensif lain dan diakumulasi                          accumulated in the investments revaluation reserve.
         dalam cadangan revaluasi investasi. Keuntungan                         The cumulative gain or loss will not be reclassified to
         atau kerugian kumulatif tidak akan direklasifikasi ke                  profit or loss on disposal of the equity investments,
         laba rugi atas pelepasan investasi ekuitas, melainkan                  instead, they will be transferred to retained earnings.
         akan ditransfer ke saldo laba.

         Pendapatan dividen dari investasi dalam instrumen                      Dividends income on these investments in equity
         ekuitas ini diakui dalam laporan laba rugi ketika hak                  instruments are recognized in profit or loss when the
         Entitas dan Entitas Anak untuk menerima dividen                        Entity’s and Subsidiary’s right to receive the
         ditetapkan, kecuali dividen tersebut secara jelas                      dividends is established, unless the dividends clearly
         merupakan pemulihan sebagian biaya investasi.                          represent a recovery of part of the cost of the
         Dividen disertakan dalam baris rincian "Pendapatan                     investment. Dividends are included in the “Finance
         Keuangan - Pendapatan Dividen" dalam laporan                           Income – Dividend Income” line item in profit or loss.
         laba rugi.

         Aset Keuangan pada FVTPL                                               Financial Assets at FVTPL

         Aset keuangan yang tidak memenuhi kriteria untuk                       Financial assets that do not meet the criteria for being
         diukur pada biaya perolehan diamortisasi atau                          measured at amortized cost or FVOCI are measured
         FVOCI diukur pada FVTPL.                                               at FVTPL.

         Secara khusus:                                                         Specifically:
         - Investasi pada instrumen ekuitas diklasifikasikan                    - Investments in equity instruments are classified as
            sebagai FVTPL, kecuali Entitas dan Entitas Anak                        at FVTPL, unless the Entity designates an equity
            menetapkan investasi ekuitas yang dimiliki untuk                       investment that is neither held for trading nor a
            tidak diperdagangkan atau imbalan kontinjensi                          contingent consideration arising from a business
            yang timbul dari kombinasi bisnis sebagai                              combination as at FVOCI irrevocably on initial
            FVOCI yang tidak dapat dibatalkan pada                                 recognition.
            pengakuan awal.




                                                                 22
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                        STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                    As of and For The Year Ended
31 Desember 2024                                                                                         December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI              3.     MATERIAL       ACCOUNTING                     POLICIES
     MATERIAL - Lanjutan                                                    INFORMATION - Continued

     e. Instrumen Keuangan - Lanjutan                                     h. e. Financial Instruments - Continued

         (1) Aset keuangan - Lanjutan                                          (1) Financial assets - Continued

         Pengukuran Selanjutnya - Lanjutan                                     Subsequent Measurement – Continued

         Aset Keuangan pada FVTPL – Lanjutan                                   Financial Assets at FVTPL – Continued

         - Instrumen utang yang tidak memenuhi kriteria                        -   Debt instruments that do not meet the amortized
           biaya perolehan diamortisasi atau kriteria FVOCI                        cost criteria or the FVOCI criteria are classified
           diklasifikasikan sebagai FVTPL. Selain itu,                             as at FVTPL. In addition, debt instruments that
           instrumen utang yang memenuhi kriteria biaya                            meet either the amortized cost criteria or the
           perolehan diamortisasi atau kriteria FVOCI dapat                        FVOCI criteria may be designated as at FVTPL
           ditetapkan sebagai FVTPL yang tidak dapat                               irrevocably upon initial recognition if such
           dibatalkan pada saat pengakuan awal jika                                designation eliminates or significantly reduces a
           penetapan tersebut menghilangkan atau secara                            measurement or recognition inconsistency that
           signifikan mengurangi inkonsistensi pengukuran                          would arise from measuring assets or liabilities or
           atau pengakuan yang akan timbul dari                                    recognizing the gains and losses on them on
           pengukuran aset atau liabilitas atau pengakuan                          different bases.
           keuntungan dan kerugian pada mereka atas dasar
           yang berbeda.

         Aset keuangan pada FVTPL diukur pada nilai wajar                      Financial assets at FVTPL are measured at fair value
         pada setiap tanggal pelaporan, dengan keuntungan                      as at each reporting date, with any fair value gains or
         atau kerugian nilai wajar diakui dalam laporan laba                   losses recognized in profit or loss to the extent they
         rugi sepanjang bukan merupakan bagian dari                            are not part of a designated hedging relationship. The
         hubungan lindung nilai yang ditentukan.                               net gain or loss recognized in profit or loss includes
         Keuntungan atau kerugian bersih yang diakui dalam                     any dividend or interest earned on the financial asset
         laporan laba rugi termasuk dividen atau bunga yang                    and is included in the “Other Gains and Losses” line
         diperoleh dari aset keuangan dan dimasukkan dalam                     item.
         item baris "Keuntungan dan Kerugian Lainnya".

         Keuntungan dan Kerugian Selisih Kurs                                  Foreign Exchange Gains and Losses

         Nilai tercatat aset keuangan dalam mata uang asing                    The carrying amount of financial assets that are
         ditentukan dalam mata uang asing tersebut dan                         denominated in a foreign currency is determined in
         dijabarkan dengan kurs spot pada setiap tanggal                       that foreign currency and translated at the spot rate
         pelaporan.                                                            as at each reporting date.

         Secara khusus,                                                        Specifically,
         - untuk aset keuangan yang diukur pada biaya                          - for financial assets measured at amortized cost
           perolehan diamortisasi yang bukan merupakan                            that are not part of a designated hedging
           bagian dari hubungan lindung nilai yang                                relationship, exchange differences are recognized
           ditentukan, selisih kurs diakui dalam laporan laba                     in profit or loss in the “Gains or Losses on
           rugi pada item baris “Keuntungan atau Kerugian                         Foreign Exchange” line item;
           Selisih Kurs”;

         - untuk instrumen utang yang diukur pada FVOCI                        -   for debt instruments measured at FVOCI that are
           yang bukan merupakan bagian dari hubungan                               not part of a designated hedging relationship,
           lindung nilai yang ditentukan, selisih kurs atas                        exchange differences on the amortized cost of the
           biaya perolehan diamortisasi dari instrumen                             debt instrument are recognized in profit or loss in
           utang tersebut diakui dalam laporan laba rugi                           the “Gains or Losses on Foreign Exchange” line
           pada item baris “Keuntungan atau Kerugian                               item;
           Selisih Kurs”;




                                                                23
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI               3.     MATERIAL       ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                     INFORMATION - Continued

     e. Instrumen Keuangan - Lanjutan                                      i. e. Financial Instruments - Continued

         (1) Aset keuangan - Lanjutan                                            (1) Financial assets - Continued

         Keuntungan dan Kerugian Selisih Kurs –                                 Foreign Exchange Gains and Losses – Continued
         Lanjutan

         - untuk aset keuangan yang diukur pada FVTPL                           -   for financial assets measured at FVTPL that are
           yang bukan merupakan bagian dari hubungan                                not part of a designated hedging relationship,
           lindung nilai yang ditentukan, selisih kurs diakui                       exchange differences are recognized in profit or
           dalam laporan laba rugi pada item baris                                  loss in the “Gains or Losses on Foreign
           “Keuntungan atau Kerugian Selisih Kurs”; dan                             Exchange” line item; and

         - untuk instrumen ekuitas yang diukur dengan                           -   for equity instruments measured at FVOCI,
           FVOCI, selisih kurs diakui dalam penghasilan                             exchange differences are recognized in other
           komprehensif lain dalam cadangan revaluasi                               comprehensive income in the investments
           investasi.                                                               revaluation reserve.

         Penurunan nilai aset keuangan                                           Impairment of financial assets

         Entitas dan Entitas Anak mengakui penyisihan                            The Group recognizes a loss allowance for expected
         kerugian kredit ekspektasian (“ECL”) atas investasi                     credit losses (“ECL”) on investments in debt
         dalam instrumen utang yang diukur pada biaya                            instruments that are measured at amortized cost or at
         perolehan diamortisasi atau pada FVOCI, piutang                         FVOCI, lease receivables, contract assets, as well as
         sewa, aset kontrak, serta komitmen pinjaman pada                        on loan commitments financial guarantee contracts.
         kontrak jaminan keuangan. Tidak ada kerugian                            No impairment loss is recognized for investments in
         penurunan nilai yang diakui untuk investasi pada                        equity instruments. The amount of expected credit
         instrumen ekuitas. Jumlah kerugian kredit                               losses is updated at each reporting date to reflect
         ekspektasian diperbarui pada setiap tanggal                             changes in credit risk since initial recognition of the
         pelaporan untuk mencerminkan perubahan risiko                           respective financial instrument.
         kredit sejak pengakuan awal atas instrumen
         keuangan tersebut.

         Entitas dan Entitas Anak selalu mengakui ECL                            The Entity’s and Subsidiary always recognizes
         sepanjang umur untuk piutang usaha, aset kontrak                        lifetime ECL for trade receivables, contract assets
         dan piutang sewa. Kerugian kredit ekspektasian atas                     and lease receivables. The expected credit losses on
         aset keuangan ini diestimasi dengan menggunakan                         these financial assets are estimated using a provision
         matriks provisi berdasarkan pengalaman kerugian                         matrix based on the Entity’s and Subsidiary’s
         kredit historis Entitas dan Entitas Anak, disesuaikan                   historical credit loss experience, adjusted for factors
         untuk faktor-faktor yang spesifik bagi debitur,                         that are specific to the debtors, general economic
         kondisi ekonomi secara umum dan penilaian                               conditions and an assessment of both the current as
         terhadap arah saat ini maupun arah kondisi perkiraan                    well as the forecast direction of conditions at the
         kerugian pada tanggal pelaporan, termasuk nilai                         reporting date, including time value of money where
         waktu uang jika sesuai.                                                 appropriate.




                                                                 24
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI               3.     MATERIAL       ACCOUNTING                       POLICIES
     MATERIAL - Lanjutan                                                     INFORMATION - Continued

     e. Instrumen Keuangan - Lanjutan                                      j. e. Financial Instruments - Continued

         (1) Aset keuangan - Lanjutan                                            (1) Financial assets - Continued

         Penurunan nilai aset keuangan – Lanjutan                               Impairment of financial assets – Continued

         Untuk semua instrumen keuangan lainnya, Entitas                         For all other financial instruments, the Entity’s and
         dan Entitas Anak mengakui ECL sepanjang umur                            Subsidiary recognizes lifetime ECL when there has
         ketika terdapat peningkatan yang signifikan dalam                       been a significant increase in credit risk since initial
         risiko kredit sejak pengakuan awal. Sebaliknya, jika                    recognition. If, on the other hand, the credit risk on
         risiko kredit atas instrumen keuangan tidak                             the financial instrument has not increased
         meningkat secara signifikan sejak pengakuan awal,                       significantly since initial recognition, the Entity’s and
         Entitas dan Entitas Anak mengukur penyisihan                            Subsidiary measures the loss allowance for that
         kerugian untuk instrumen keuangan tersebut dengan                       financial instrument at an amount equal to 12 month
         jumlah yang sama dengan ECL 12 bulan (12mECL).                          ECL (12mECL). The assessment of whether lifetime
         Penilaian apakah ECL sepanjang umur harus diakui                        ECL should be recognized is based on significant
         didasarkan pada peningkatan signifikan dalam                            increases in the likelihood or risk of a default
         kemungkinan atau risiko gagal bayar yang terjadi                        occurring since initial recognition instead of on
         sejak pengakuan awal alih-alih pada bukti aset                          evidence of a financial asset being credit-impaired at
         keuangan mengalami penurunan nilai kredit pada                          the reporting date or an actual default occurring.
         tanggal pelaporan atau terjadi gagal bayar (default)
         yang sebenarnya.
         ECL sepanjang umur merupakan kerugian kredit                            Lifetime ECL represents the expected credit losses
         ekspektasian yang dihasilkan dari semua                                 that will result from all possible default events over
         kemungkinan peristiwa gagal bayar (default) selama                      the expected life of a financial instrument. In contrast,
         perkiraan umur instrumen keuangan. Sebaliknya,                          12mECL represents the portion of lifetime ECL that
         12mECL merupakan porsi ECL sepanjang umur                               is expected to result from default events on a financial
         yang diharapkan dihasilkan dari peristiwa gagal                         instrument that are possible within 12 months after
         bayar (default) pada instrumen keuangan yang                            the reporting date.
         mungkin terjadi dalam 12 bulan setelah tanggal
         pelaporan.
         Risiko Kredit Meningkat Signifikan                                      Significant Increase in Credit Risk

         Dalam menilai apakah risiko kredit pada instrumen                       In assessing whether the credit risk on a financial
         keuangan telah meningkat secara signifikan sejak                        instrument has increased significantly since initial
         pengakuan awal, Entitas dan Entitas Anak                                recognition, the Entity’s and Subsidiary compares the
         membandingkan risiko gagal bayar (default) yang                         risk of a default occurring on the financial instrument
         terjadi pada instrumen keuangan pada tanggal                            as at the reporting date with the risk of a default
         pelaporan dengan risiko gagal bayar (default) yang                      occurring on the financial instrument as at the date
         terjadi pada instrumen keuangan pada tanggal                            of initial recognition. In making this assessment, the
         pengakuan awal. Dalam melakukan penilaian ini,                          Entity’s and Subsidiary considers both quantitative
         Entitas dan Entitas Anak mempertimbangkan                               and qualitative information that is reasonable and
         informasi kuantitatif dan kualitatif yang wajar dan                     supportable, including historical experience and
         dapat didukung, termasuk pengalaman historis dan                        forward-looking information that is available without
         informasi berwawasan ke depan yang tersedia tanpa                       undue cost or effort.
         biaya atau upaya yang tidak semestinya.

         Informasi     berwawasan      ke     depan      yang                    Forward-looking information considered includes
         dipertimbangkan mencakup prospek masa depan                             the future prospects of the industries in which the
         industri dimana debitur Entitas dan Entitas Anak                        Entity’s and Subsidiary’s debtors operate, obtained
         beroperasi, yang diperoleh dari laporan ahli                            from economic expert reports, financial analysts,
         ekonomi, analis keuangan, badan pemerintah,                             governmental bodies, relevant think tanks and other
         lembaga pemikir (think-tanks) terkait, dan organisasi                   similar organizations, as well as consideration of
         serupa lainnya, serta pertimbangan berbagai sumber                      various external sources of actual and forecast
         eksternal dan memperkirakan informasi ekonomi                           economic information that relate to the Entity’s and
         yang terkait dengan operasi inti Entitas dan Entitas                    Subsidiary’s core operations.
         Anak.


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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                 AKUNTANSI              3.     MATERIAL       ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                   INFORMATION - Continued

     e. Instrumen Keuangan - Lanjutan                                    k. e. Financial Instruments - Continued

         (1) Aset keuangan - Lanjutan                                          (1) Financial assets - Continued

         Risiko Kredit Meningkat Signifikan - Lanjutan                         Significant Increase in Credit Risk - Continued

         Untuk komitmen pinjaman dan kontrak jaminan                           For loan commitments and financial guarantee
         keuangan, pada tanggal Entitas dan Entitas Anak                       contracts, the date that the Group becomes a party to
         menjadi salah satu pihak dari komitmen yang tidak                     the irrevocable commitment is considered to be the
         dapat dibatalkan dianggap sebagai tanggal                             date of initial recognition for the purposes of
         pengakuan awal untuk tujuan penilaian penurunan                       assessing the financial instrument for impairment. In
         nilai instrumen keuangan. Dalam menilai apakah                        assessing whether there has been a significant
         terdapat peningkatan yang signifikan dalam risiko                     increase in the credit risk since initial recognition of
         kredit sejak pengakuan awal atas komitmen                             a loan commitment and financial guarantee contract,
         pinjaman dan kontrak jaminan keuangan, Entitas dan                    the Entity’s and Subsidiary considers the changes in
         Entitas Anak mempertimbangkan perubahan risiko                        the risk that the specified debtor will default on the
         di mana debitur tertentu akan gagal bayar (default)                   contract.
         dalam kontrak.

         Entitas dan Entitas Anak secara berkala memantau                      The Entity’s and Subsidiary regularly monitors the
         efektivitas kriteria yang digunakan untuk                             effectiveness of the criteria used to identify whether
         mengidentifikasi apakah terdapat peningkatan risiko                   there has been a significant increase in credit risk
         kredit yang signifikan dan merevisinya sesuai                         and revises them as appropriate to ensure that the
         kebutuhan untuk memastikan bahwa kriteria tersebut                    criteria are capable of identifying significant
         mampu mengidentifikasi peningkatan risiko kredit                      increase in credit risk before the amount becomes
         yang signifikan sebelum jumlah tersebut jatuh                         past due.
         tempo.

         Jika Entitas dan Entitas Anak telah mengukur                          If the Entity’s and Subsidiary has measured the loss
         penyisihan kerugian untuk instrumen keuangan                          allowance for a financial instrument at an amount
         dengan jumlah yang sama dengan ECL sepanjang                          equal to lifetime ECL in the previous reporting
         umur pada periode pelaporan sebelumnya, tetapi                        period, but determines at the current reporting date
         menentukan pada tanggal pelaporan saat ini bahwa                      that the conditions for lifetime ECL are no longer
         kondisi untuk ECL sepanjang umur tidak lagi                           met, the Entity’s and Subsidiary measures the loss
         terpenuhi, Entitas dan Entitas Anak mengukur                          allowance at an amount equal to 12mECL at the
         penyisihan kerugian pada jumlah yang sama dengan                      current reporting date, except for assets for which
         12mECL pada tanggal pelaporan saat ini, kecuali                       simplified approach was used.
         untuk aset yang menggunakan pendekatan yang
         disederhanakan.

         Entitas dan Entitas Anak mengakui keuntungan atau                     The Entity’s and Subsidiary recognizes an
         kerugian penurunan nilai dalam laporan laba rugi                      impairment gain or loss in profit or loss for all
         untuk semua instrumen keuangan dengan                                 financial instruments with a corresponding
         penyesuaian yang sesuai dengan nilai tercatatnya                      adjustment to their carrying amount through a loss
         melalui akun penyisihan kerugian, kecuali untuk                       allowance account, except for investments in debt
         investasi dalam instrumen utang yang diukur pada                      instruments that are measured at FVOCI, for which
         FVOCI, di mana penyisihan kerugian diakui pada                        the loss allowance is recognized in other
         penghasilan komprehensif lain dan diakumulasi                         comprehensive income and accumulated in the
         dalam cadangan revaluasi investasi, dan tidak                         investment revaluation reserve, and does not reduce
         mengurangi nilai tercatat aset keuangan pada                          the carrying amount of the financial asset in the
         laporan posisi keuangan.                                              statement of financial position.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI               3.     MATERIAL       ACCOUNTING                       POLICIES
     MATERIAL - Lanjutan                                                     INFORMATION - Continued

     e. Instrumen Keuangan - Lanjutan                                      l. e. Financial Instruments - Continued

         (1) Aset keuangan - Lanjutan                                            (1) Financial assets - Continued

         Kebijakan Penghapusan                                                   Write-off Policy

         Entitas dan Entitas Anak menghapus aset keuangan                        The Entity’s and Subsidiary writes off a financial
         jika terdapat informasi yang menunjukkan bahwa                          asset when there is information indicating that the
         debitur berada dalam kesulitan keuangan yang parah                      debtor is in severe financial difficulty and there is no
         dan tidak ada prospek pemulihan yang realistis. Aset                    realistic prospect of recovery. Financial assets
         keuangan yang dihapuskan mungkin masih tunduk                           written off may still be subject to enforcement
         pada aktivitas penegakan hukum berdasarkan                              activities under the Entity’s and Subsidiary’s
         prosedur pemulihan Entitas dan Entitas Anak,                            recovery procedures, taking into account legal advice
         dengan mempertimbangkan advis hukum jika                                where appropriate. Any recoveries made are
         sesuai. Setiap pemulihan yang dilakukan diakui                          recognized in profit or loss.
         dalam laporan laba rugi.

         Penghentian Pengakuan Aset Keuangan                                     Derecognition of Financial Assets

         Entitas dan Entitas Anak menghentikan pengakuan                         The Entity’s and Subsidiary derecognizes a financial
         aset keuangan hanya jika hak kontraktual atas arus                      asset only when the contractual rights to the cash
         kas dari aset tersebut berakhir, atau saat aset                         flows from the asset expire, or when it transfers the
         keuangan tersebut dialihkan dan secara substansial                      financial asset and substantially all the risks and
         seluruh risiko dan manfaat kepemilikan aset kepada                      rewards of ownership of the asset to another party. If
         pihak lain. Jika Entitas dan Entitas Anak tidak                         the Entity’s and Subsidiary neither transfers nor
         mengalihkan      atau    mempertahankan      secara                     retains substantially all the risks and rewards of
         substansial seluruh risiko dan manfaat kepemilikan                      ownership and continues to control the transferred
         dan terus mengendalikan aset yang dialihkan, Entitas                    asset, the Entity’s and Subsidiary recognizes its
         dan Entitas Anak mengakui hak kepemilikannya atas                       retained interest in the asset and an associated
         aset dan liabilitas terkait sebesar jumlah yang                         liability for amounts it may have to pay. If the Entity’s
         mungkin harus dibayar. Jika Entitas dan Entitas                         and Subsidiary retains substantially all the risks and
         Anak memiliki secara substansial seluruh risiko dan                     rewards of ownership of a transferred financial asset,
         manfaat kepemilikan aset keuangan yang dialihkan,                       the Entity’s and Subsidiary continues to recognize the
         Entitas dan Entitas Anak tetap mengakui aset                            financial asset and also recognizes a collateralized
         keuangan dan juga mengakui pinjaman yang dijamin                        borrowing for the proceeds received.
         sebesar hasil yang diterima.

         Pada penghentian pengakuan aset keuangan yang                           On derecognition of a financial asset measured at
         diukur dengan biaya perolehan diamortisasi,                             amortized cost, the difference between the asset’s
         perbedaan antara nilai tercatat aset dan jumlah                         carrying amount and the sum of the consideration
         imbalan yang diterima dan piutang diakui dalam                          received and receivable is recognized in profit or
         laporan laba rugi. Selain itu, pada penghentian                         loss. In addition, on derecognition of an investment
         pengakuan investasi dalam instrumen utang yang                          in a debt instrument classified as at FVOCI, the
         diklasifikasikan sebagai FVOCI, keuntungan atau                         cumulative gain or loss previously accumulated in the
         kerugian kumulatif yang sebelumnya diakumulasi                          investments revaluation reserve is reclassified to
         dalam cadangan revaluasi investasi direklasifikasi ke                   profit or loss. In contrast, on derecognition of an
         laba rugi. Sebaliknya, pada penghentian pengakuan                       investment in equity instrument which the Entity’s
         investasi dalam instrumen ekuitas yang telah                            and Subsidiary has elected on initial recognition to
         ditetapkan Entitas dan Entitas Anak pada pengakuan                      measure at FVOCI, the cumulative gain or loss
         awal untuk diukur pada FVOCI, keuntungan atau                           previously accumulated in the investments
         kerugian kumulatif yang sebelumnya diakumulasi                          revaluation reserve is not reclassified to profit or
         dalam cadangan revaluasi investasi tidak                                loss, but is transferred to retained earnings.
         direklasifikasi ke laba rugi, tetapi dipindahkan ke
         saldo laba.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI               3.     MATERIAL       ACCOUNTING                         POLICIES
     MATERIAL - Lanjutan                                                     INFORMATION - Continued

     e. Instrumen Keuangan - Lanjutan                                      m.e. Financial Instruments - Continued

         (2) Liabilitas Keuangan                                                 (2) Financial Liabilities

         Semua liabilitas keuangan selanjutnya diukur pada                       All financial liabilities are subsequently measured at
         biaya perolehan diamortisasi dengan menggunakan                         amortized cost using the effective interest method or
         metode suku bunga efektif atau pada FVTPL.                              at FVTPL.

         Namun, liabilitas keuangan yang timbul ketika                           However, financial liabilities that arise when a
         pengalihan aset keuangan tidak memenuhi syarat                          transfer of a financial asset does not qualify for
         untuk penghentian pengakuan atau ketika                                 derecognition or when the continuing involvement
         pendekatan keterlibatan berkelanjutan diterapkan,                       approach applies, financial guarantee contracts and
         kontrak dan komitmen jaminan keuangan yang                              commitments issued by the Entity’s and Subsidiary,
         diterbitkan oleh Entitas dan Entitas Anak, diukur                       are measured in accordance with the specific
         sesuai dengan kebijakan akuntansi spesifik yang                         accounting policies set out below.
         ditetapkan di bawah ini.

         Liabilitas Keuangan Selanjutnya Diukur pada                             Financial Liabilities Subsequently Measured at
         FVTPL                                                                   FVTPL

         Liabilitas keuangan diklasifikasikan sebagai FVTPL                      Financial liabilities are classified as at FVTPL when
         jika liabilitas keuangan merupakan imbalan                              the financial liability is contingent consideration of
         kontinjensi dari pihak pengakuisisi dalam kombinasi                     an acquirer in a business combination, held for
         bisnis, dimiliki untuk diperdagangkan atau                              trading or it is designated as at FVTPL.
         ditetapkan sebagai FVTPL.

         Liabilitas keuangan diklasifikasikan sebagai dimiliki                   A financial liability is classified as held for trading if:
         untuk diperdagangkan jika:
         - telah diperoleh terutama untuk tujuan dibeli                          - it has been acquired principally for the purpose of
            kembali dalam waktu dekat; atau                                        repurchasing it in the near term; or
         - pada pengakuan awal, ini merupakan bagian dari                        - on initial recognition it is part of a portfolio of
            portofolio      instrumen      keuangan      yang                      identified financial instruments that the Entity’s
            diidentifikasi yang dikelola bersama oleh Entitas                      and Subsidiary manages together and has a recent
            dan Entitas Anak dan memiliki pola pengambilan                         actual pattern of short-term profit-taking; or
            keuntungan jangka pendek aktual terkini; atau
         - merupakan derivatif, kecuali untuk derivatif yang                     - it is a derivative, except for a derivative that is a
            merupakan kontrak jaminan keuangan atau                                financial guarantee contract or a designated and
            instrumen lindung nilai yang ditetapkan dan                            effective hedging instrument.
            efektif.

         Liabilitas keuangan selain liabilitas keuangan yang                     A financial liability other than a financial liability
         dimiliki untuk diperdagangkan atau imbalan                              held for trading or contingent consideration of an
         kontinjensi dari pihak pengakuisisi dalam kombinasi                     acquirer in a business combination may be
         bisnis dapat ditetapkan sebagai FVTPL pada                              designated as at FVTPL upon initial recognition if:
         pengakuan awal jika:




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                    PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                               ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                            NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                             STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                         As of and For The Year Ended
31 Desember 2024                                                                                              December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                        (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                     AKUNTANSI                3.     MATERIAL       ACCOUNTING                       POLICIES
     MATERIAL - Lanjutan                                                         INFORMATION - Continued
                                                                               n.
     e. Instrumen Keuangan - Lanjutan                                          o. e. Financial Instruments - Continued

         (2) Liabilitas Keuangan - Lanjutan                                          (2) Financial Liabilities - Continued

         Liabilitas Keuangan Selanjutnya Diukur pada                                 Financial Liabilities Subsequently Measured at
         FVTPL – Lanjutan                                                            FVTPL – Continued

         - penetapan tersebut menghilangkan atau secara                              - such designation eliminates or significantly
           signifikan mengurangi pengukuran atau                                       reduces a measurement or recognition
           pengakuan yang inkonsistensi, yang jika tidak                               inconsistency, that would otherwise arise; or
           maka akan timbul; atau
         - liabilitas keuangan merupakan bagian dari                                 - the financial liability forms part of a group of
           kelompok aset keuangan atau kewajiban                                       financial assets or financial liabilities or both,
           keuangan atau keduanya, yang dikelola dan                                   which is managed and its performance is
           kinerjanya dievaluasi berdasarkan nilai wajar,                              evaluated on a fair value basis, in accordance with
           sesuai dengan manajemen risiko atau strategi                                the Group’s documented risk management or
           investasi yang didokumentasikan oleh Entitas                                investment strategy, and information about the
           dan Entitas Anak, dan informasi tentang                                     Entity’s and Subsidiarying is provided internally
           pengelompokan tersebut adalah disediakan                                    on that basis; or
           secara internal atas dasar tersebut; atau
         - merupakan bagian dari kontrak yang                                        - it forms part of a contract containing one or more
           mengandung satu atau lebih derivatif melekat,                               embedded derivatives, and PSAK 109 permits the
           dan PSAK 109 mengizinkan seluruh kontrak                                    entire combined contract to be designated as at
           gabungan untuk ditetapkan sebagai FVTPL.                                    FVTPL.

         Liabilitas keuangan pada FVTPL disajikan sebesar                            Financial liabilities at FVTPL are stated at fair value
         nilai wajar dengan keuntungan atau kerugian yang                            with any gains or losses arising on changes in fair
         timbul dari perubahan nilai wajar yang diakui dalam                         value recognized in profit or loss to the extent that
         laba rugi sepanjang hal tersebut bukan merupakan                            they are not part of a designated hedging
         bagian dari hubungan lindung nilai yang ditentukan.                         relationship. The net gain or loss recognized in profit
         Keuntungan atau kerugian bersih yang diakui dalam                           or loss incorporates any interest paid on the financial
         laba rugi menggabungkan setiap bunga yang                                   liabilities and is included in the “Other Gains and
         dibayarkan atas liabilitas keuangan dan dimasukkan                          Losses” line item.
         dalam item baris "Keuntungan dan Kerugian Lain-
         lain".

         Namun, untuk liabilitas keuangan yang ditetapkan                            However, for financial liabilities that are designated
         sebagai FVTPL, jumlah perubahan nilai wajar                                 as at FVTPL, the amount of change in the fair value
         liabilitas keuangan yang dapat diatribusikan pada                           of the financial liability that is attributable to
         perubahan risiko kredit sendiri dari liabilitas tersebut                    changes in own credit risk of that liability is
         diakui dalam penghasilan komprehensif lain, kecuali                         recognized in other comprehensive income, unless
         pengakuan dampak dari perubahan risiko kredit                               the recognition of the effects of changes in the
         liabilitas dalam penghasilan komprehensif lain akan                         liability’s credit risk in other comprehensive income
         menciptakan atau memperbesar inkonsistensi                                  would create or enlarge an accounting mismatch in
         akuntansi dalam laba rugi. Sisa perubahan nilai                             profit or loss. The remaining amount of change in the
         wajar karena selain risiko kredit sendiri dari liabilitas                   fair value due to other than own credit risk of liability
         diakui dalam laba rugi. Perubahan nilai wajar yang                          is recognized in profit or loss. Changes in fair value
         dapat diatribusikan pada risiko kredit liabilitas                           attributable to a financial liability’s credit risk that
         keuangan diakui dalam penghasilan komprehensif                              are recognized in other comprehensive income are
         lain dan kemudian tidak direklasifikasi ke laba rugi;                       not subsequently reclassified to profit or loss;
         sebagai gantinya, mereka dipindahkan ke saldo laba                          instead, they are transferred to retained earnings
         pada saat penghentian pengakuan liabilitas                                  upon derecognition of the financial liability.
         keuangan.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                        STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                    As of and For The Year Ended
31 Desember 2024                                                                                         December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                 AKUNTANSI               3.     MATERIAL       ACCOUNTING                       POLICIES
     MATERIAL - Lanjutan                                                    INFORMATION - Continued
                                                                          p.
     e. Instrumen Keuangan - Lanjutan                                     q. e. Financial Instruments - Continued

         (2) Liabilitas Keuangan - Lanjutan                                     (2) Financial Liabilities - Continued

         Liabilitas Keuangan Selanjutnya Diukur pada                            Financial Liabilities Subsequently Measured at
         FVTPL – Lanjutan                                                       FVTPL – Continued

         Keuntungan atau kerugian dari kontrak jaminan                          Gains or losses on financial guarantee contracts and
         keuangan dan komitmen pinjaman yang diterbitkan                        loan commitments issued by the Entity’s and
         oleh Entitas dan Entitas Anak yang ditetapkan oleh                     Subsidiary that are designated by the Entity’s and
         Entitas dan Entitas Anak pada nilai wajar melalui                      Subsidiary as at fair value through profit or loss are
         laporan laba rugi diakui dalam laporan laba rugi.                      recognized in profit or loss

         Liabilitas Keuangan Selanjutnya Diukur pada                            Financial Liabilities Subsequently Measured at
         Biaya perolehan diamortisasi                                           Amortized Cost

         Liabilitas keuangan yang bukan merupakan imbalan                       Financial liabilities that are not contingent
         kontinjensi dari pihak pengakuisisi dalam kombinasi                    consideration of an acquirer in a business
         bisnis, dimiliki untuk tidak diperdagangkan, atau                      combination, not held-for-trading, or designated as
         ditetapkan sebagai FVTPL, selanjutnya diukur pada                      at FVTPL, are subsequently measured at amortized
         biaya perolehan diamortisasi dengan menggunakan                        cost using the effective interest method.
         metode suku bunga efektif.

         Metode suku bunga efektif adalah metode untuk                          The effective interest method is a method of
         menghitung biaya perolehan diamortisasi dari                           calculating the amortized cost of a financial liability
         liabilitas   keuangan     dan       metode     untuk                   and of allocating interest expense over the relevant
         mengalokasikan beban bunga selama periode yang                         period. The effective interest rate is the rate that
         relevan. Suku bunga efektif adalah suku bunga yang                     exactly discounts estimated future cash payments
         secara tepat mendiskontokan estimasi pembayaran                        (including all fees and points paid or received that
         tunai di masa depan (termasuk semua biaya dan poin                     form an integral part of the effective interest rate,
         yang dibayarkan atau diterima yang merupakan                           transaction costs and other premiums or discounts)
         bagian integral dari suku bunga efektif, biaya                         through the expected life of the financial liability, or
         transaksi, dan premi atau diskon lainnya) selama                       (where appropriate) a shorter period, to the
         perkiraan umur kewajiban keuangan, atau (jika                          amortized cost of a financial liability.
         sesuai) periode yang lebih singkat, untuk biaya
         perolehan diamortisasi dari liabilitas keuangan.

         Keuntungan dan Kerugian Selisih Kurs                                   Foreign Exchange Gains and Losses

         Untuk liabilitas keuangan dalam mata uang asing                        For financial liabilities that are denominated in a
         dan diukur pada biaya perolehan diamortisasi pada                      foreign currency and are measured at amortized cost
         setiap tanggal pelaporan, keuntungan dan kerugian                      as at each reporting date, the foreign exchange gains
         selisih kurs ditentukan berdasarkan biaya perolehan                    and losses are determined based on the amortized
         diamortisasi instrumen tersebut. Keuntungan dan                        cost of the instruments. These foreign exchange gains
         kerugian selisih kurs ini diakui dalam “Keuntungan                     and losses are recognized in the “Gains or Losses on
         atau Kerugian Selisih Kurs” dalam laporan laba rugi                    Foreign Exchange” in profit or loss for financial
         untuk liabilitas keuangan yang bukan merupakan                         liabilities that are not part of a designated hedging
         bagian dari hubungan lindung nilai yang ditentukan.                    relationship. For those which are designated as a
         Untuk liabilitas yang ditetapkan sebagai instrumen                     hedging instrument for a hedge of foreign currency
         lindung nilai untuk lindung nilai atas risiko mata                     risk, foreign exchange gains and losses are
         uang asing, keuntungan dan kerugian selisih kurs                       recognized in other comprehensive income and
         diakui dalam penghasilan komprehensif lain dan                         accumulated in a separate component of equity.
         diakumulasi dalam komponen ekuitas yang terpisah




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                  PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                             ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                           STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                       As of and For The Year Ended
31 Desember 2024                                                                                            December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                    AKUNTANSI               3.     MATERIAL       ACCOUNTING                       POLICIES
     MATERIAL - Lanjutan                                                       INFORMATION - Continued
                                                                             r.
     e. Instrumen Keuangan - Lanjutan                                        s. e. Financial Instruments - Continued

         (2) Liabilitas Keuangan - Lanjutan                                        (2) Financial Liabilities - Continued

         Keuntungan dan Kerugian Selisih Kurs –                                    Foreign Exchange Gains and Losses – Continued
         Lanjutan

         Nilai wajar dari liabilitas keuangan dalam mata uang                      The fair value of financial liabilities denominated in
         asing ditentukan dalam mata uang asing tersebut dan                       a foreign currency is determined in that foreign
         dijabarkan dengan kurs spot pada akhir periode                            currency and translated at the spot rate at the end of
         pelaporan. Untuk liabilitas keuangan yang diukur                          the reporting period. For financial liabilities that are
         pada FVTPL, komponen valuta asing merupakan                               measured as at FVTPL, the foreign exchange
         bagian dari keuntungan atau kerugian nilai wajar dan                      component forms part of the fair value gains or losses
         diakui dalam laporan laba rugi untuk liabilitas                           and is recognized in profit or loss for financial
         keuangan yang bukan merupakan bagian dari                                 liabilities that are not part of a designated hedging
         hubungan lindung nilai yang ditentukan.                                   relationship

         Penghentian Pengakuan Liabilitas Keuangan                                 Derecognition of Financial Liabilities

         Entitas dan Entitas Anak menghentikan pengakuan                           The Entity’s and Subsidiary derecognizes financial
         liabilitas keuangannya jika, dan hanya jika, liabilitas                   liabilities when, and only when, the Entity’s and
         Entitas dan Entitas Anak dilepaskan, dibatalkan,                          Subsidiary’s obligations are discharged, cancelled
         atau habis masa berlakunya. Selisih antara nilai                          or they expire. The difference between the carrying
         tercatat liabilitas keuangan yang dihentikan                              amount of the financial liability derecognized and the
         pengakuannya dan imbalan yang dibayarkan dan                              consideration paid and payable, including any non-
         terutang, termasuk aset non tunai yang dialihkan                          cash assets transferred or liabilities assumed, is
         atau liabilitas yang diambil alih, diakui dalam                           recognized in profit or loss.
         laporan laba rugi.

         Ketika Entitas dan Entitas Anak menukar dengan                            When the Entity’s and Subsidiary exchanges with the
         pemberi pinjaman yang eksis, suatu instrumen utang                        existing lender one debt instrument into another one
         ke instrumen lain dengan persyaratan yang secara                          with the substantially different terms, such exchange
         substansial berbeda, pertukaran tersebut dicatat                          is accounted for as an extinguishment of the original
         sebagai penghapusan liabilitas keuangan awal dan                          financial liability and the recognition of a new
         pengakuan liabilitas keuangan baru. Demikian pula,                        financial liability. Similarly, the Entity’s and
         Entitas dan Entitas Anak mencatat modifikasi                              Subsidiary accounts for substantial modification of
         substansial dari persyaratan liabilitas yang ada atau                     terms of an existing liability or part of it as an
         bagian darinya sebagai penghapusan liabilitas                             extinguishment of the original financial liability and
         keuangan asli dan pengakuan liabilitas baru.                              the recognition of a new liability.

         Diasumsikan bahwa persyaratannya secara                                   It is assumed that the terms are substantially different
         substansial berbeda jika nilai sekarang yang                              if the discounted present value of the cash flows
         didiskontokan dari arus kas menurut persyaratan                           under the new terms, including any fees paid net of
         baru, termasuk biaya yang dibayarkan setelah                              any fees received and discounted using the original
         dikurangi biaya yang diterima dan didiskontokan                           effective rate is at least 10 per cent different from the
         menggunakan tarif efektif awal sekurang-kurangnya                         discounted present value of the remaining cash flows
         10 persen berbeda dari nilai wajar yang                                   of the original financial liability. If the modification
         didiskontokan atas nilai sisa arus kas dari liabilitas                    is not substantial, the difference between: (1) the
         keuangan awal. Jika modifikasi tidak substansial,                         carrying amount of the liability before the
         perbedaan antara: (1) nilai tercatat liabilitas sebelum                   modification; and (2) the present value of the cash
         modifikasi; dan (2) nilai kini arus kas setelah                           flows after modification should be recognized in
         modifikasi harus diakui dalam laporan laba rugi                           profit or loss as the modification gain or loss within
         sebagai keuntungan atau kerugian modifikasi dalam                         other gains and losses.
         keuntungan dan kerugian lain.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                            ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                          STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                      As of and For The Year Ended
31 Desember 2024                                                                                           December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                   AKUNTANSI               3.     MATERIAL       ACCOUNTING                     POLICIES
     MATERIAL - Lanjutan                                                      INFORMATION - Continued
                                                                            t.
     e. Instrumen Keuangan - Lanjutan                                       u.e. Financial Instruments - Continued

         (3) Instrumen Keuangan Derivatif                                         (3) Derivative Financial Instruments

         Untuk mengelola eksposur terhadap risiko suku                            To manage its exposure to interest rate and foreign
         bunga dan nilai tukar mata uang asing, termasuk                          exchange rate risks, including foreign exchange
         kontrak berjangka valuta asing dan swap suku                             forward contracts and interest rate swaps, the Group
         bunga, Entitas dan Entitas Anak dapat masuk ke                           can enter into a variety of derivative financial
         dalam berbagai instrumen keuangan derivatif.                             instruments.

         Derivatif pada awalnya diakui pada nilai wajar pada                      Derivatives are initially recognized at fair value at
         tanggal kontrak derivatif ditandatangani dan                             the date the derivative contracts are entered into and
         selanjutnya diukur kembali ke nilai wajarnya pada                        are subsequently remeasured to their fair value as at
         setiap tanggal pelaporan. Keuntungan atau kerugian                       each reporting date. The resulting gain or loss is
         yang dihasilkan segera diakui dalam laporan laba                         recognized in profit or loss immediately unless the
         rugi kecuali derivatif tersebut ditetapkan dan efektif                   derivative is designated and effective as a hedging
         sebagai instrumen lindung nilai, di mana waktu                           instrument, in which event the timing of the
         pengakuan laba rugi tergantung pada sifat hubungan                       recognition in profit or loss depends on the nature of
         lindung nilai.                                                           the hedge relationship.

         Derivatif dengan nilai wajar positif diakui sebagai                      A derivative with a positive fair value is recognized
         aset keuangan sedangkan derivatif dengan nilai                           as a financial asset whereas a derivative with a
         wajar negatif diakui sebagai liabilitas keuangan.                        negative fair value is recognized as a financial
         Derivatif tidak saling hapus dalam laporan keuangan                      liability. Derivatives are not offset in the financial
         kecuali Entitas dan Entitas Anak memiliki hak                            statements unless the Entity’s and Subsidiary has
         hukum dan niat untuk saling hapus.                                       both legal right and intention to offset.

         Derivatif Melekat                                                        Embedded Derivatives

         Derivatif melekat adalah komponen dari kontrak                           An embedded derivative is a component of a hybrid
         hibrida yang juga mencakup host non-derivatif                            contract that also includes a non-derivative host with
         dengan pengaruh bahwa beberapa arus kas dari                             the effect that some of the cash flows of the combined
         instrumen gabungan bervariasi dengan cara yang                           instrument vary in a way similar to a stand-alone
         serupa dengan derivatif yang berdiri sendiri.                            derivative.

         Derivatif yang melekat pada kontrak utama non-                           Derivatives embedded in non-derivative host
         derivatif yang bukan merupakan aset keuangan                             contracts that are not financial assets within the
         dalam ruang lingkup PSAK 109 diperlakukan                                scope of PSAK 109 are treated as separate
         sebagai derivatif terpisah jika memenuhi definisi                        derivatives when they meet the definition of a
         derivatif, risiko dan karakteristiknya tidak terkait                     derivative, their risks and characteristics are not
         erat dengan risiko dan karakteristik kontrak utama                       closely related to those of the host contracts and the
         dan kontrak utama kontrak tidak diukur pada                              host contracts are not measured at FVTPL.
         FVTPL.

         Derivatif yang melekat pada kontrak hibrida yang                         Derivatives embedded in hybrid contracts that
         mengandung aset keuangan utama dalam ruang                               contain financial asset hosts within the scope of
         lingkup PSAK 109 tidak dipisahkan. Seluruh                               PSAK 109 are not separated. The entire hybrid
         kontrak hibrida diklasifikasikan dan selanjutnya                         contract is classified and subsequently measured as
         diukur sebagai biaya perolehan diamortisasi atau                         either amortized cost or FVTPL as appropriate.
         FVTPL sebagaimana mestinya.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                            ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                          STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                      As of and For The Year Ended
31 Desember 2024                                                                                           December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                   AKUNTANSI               3.     MATERIAL           ACCOUNTING                   POLICIES
     MATERIAL - Lanjutan                                                      INFORMATION - Continued
                                                                            v.
     e.   Instrumen Keuangan - Lanjutan                                     w.e. Financial Instruments - Continued

          (3) Instrumen Keuangan Derivatif - Lanjutan                             (3) Derivative Financial Instruments - Continued

          Derivatif Melekat - Lanjutan                                            Embedded Derivatives - Continued

          Berbeda dengan aset keuangan, ketentuan yang ada                        In contrast to financial assets, the existing
          dalam PSAK 55 untuk pemisahan derivatif melekat                         requirements in PSAK 55 for the separation of
          tetap dilanjutkan untuk liabilitas keuangan, artinya                    embedded derivatives have been continued for
          liabilitas keuangan yang diukur pada biaya                              financial liabilities, meaning that financial liabilities
          perolehan diamortisasi masih perlu dianalisis untuk                     to be measured at amortized cost would still need to
          menentukan apakah terdapat derivatif melekat yang                       be analyzed to determine whether they contain any
          harus dipertanggungjawabkan secara terpisah pada                        embedded derivatives that are required to be
          FVTPL.                                                                  accounted for separately at FVTPL.

          Jika kontrak hibrida merupakan liabilitas keuangan                      If the hybrid contract is a quoted financial liability,
          kuotasian, alih-alih memisahkan derivatif melekat,                      instead of separating the embedded derivative, the
          Entitas dan Entitas Anak biasanya menetapkan                            Entity’s and Subsidiary generally designates the
          seluruh kontrak hibrida pada FVTPL.                                     whole hybrid contract at FVTPL

          Derivatif melekat disajikan sebagai aset tidak lancar                   An embedded derivative is presented as a
          atau liabilitas tidak lancar jika sisa jatuh tempo                      non‑current asset or non‑current liability if the
          instrumen hibrida yang terkait dengan derivatif                         remaining maturity of the hybrid instrument to which
          melekat lebih dari 12 bulan dan tidak diharapkan                        the embedded derivative relates is more than 12
          akan direalisasikan atau diselesaikan dalam 12                          months and is not expected to be realized or settled
          bulan.                                                                  within 12 months.

          (4) Akuntansi Lindung Nilai                                             (4) Hedge Accounting
          Entitas dan Entitas Anak menetapkan derivatif                           The Entity’s and Subsidiary designates certain
          tertentu sebagai instrumen lindung nilai sehubungan                     derivatives as hedging instruments in respect of
          dengan risiko mata uang asing dan risiko suku bunga                     foreign currency risk and interest rate risk in fair
          dalam lindung nilai nilai wajar, lindung nilai arus                     value hedges, cash flow hedges, or hedges of net
          kas, atau lindung nilai atas investasi neto dalam                       investments in foreign operations as appropriate.
          operasi luar negeri yang sesuai. Lindung nilai atas                     Hedges of foreign exchange risk on firm
          risiko nilai tukar mata uang asing atas komitmen                        commitments are accounted for as cash flow hedges.
          dicatat sebagai lindung nilai arus kas.
          Pada insepsi hubungan lindung nilai, Entitas dan                        At the inception of the hedge relationship, the
          Entitas Anak mendokumentasikan hubungan antara                          Entity’s and Subsidiary documents the relationship
          instrumen lindung nilai dan item yang dilindung                         between the hedging instrument and the hedged item,
          nilai, bersama dengan tujuan manajemen risiko dan                       along with its risk management objectives and its
          strateginya untuk melakukan berbagai transaksi                          strategy for undertaking various hedge transactions.
          lindung nilai

          Selanjutnya, pada awal lindung nilai dan secara                         Furthermore, at the inception of the hedge and on an
          berkelanjutan, Entitas       dan Entitas       Anak                     ongoing basis, the Entity’s and Subsidiary
          mendokumentasikan apakah instrumen lindung nilai                        documents whether the hedging instrument is
          efektif dalam mengimbangi perubahan nilai wajar                         effective in offsetting changes in fair values or cash
          atau arus kas dari item yang dilindungi nilai yang                      flows of the hedged item attributable to the hedged
          disebabkan oleh risiko lindung nilai, yaitu ketika                      risk, which is when the hedging relationships meet all
          hubungan lindung nilai memenuhi semua dari                              of the following hedge effectiveness requirements:
          persyaratan efektivitas lindung nilai berikut:




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                   PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                              ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                            STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                        As of and For The Year Ended
31 Desember 2024                                                                                             December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                       (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                    AKUNTANSI                3.     MATERIAL           ACCOUNTING                  POLICIES
     MATERIAL - Lanjutan                                                        INFORMATION - Continued
                                                                              x.
     e. Instrumen Keuangan - Lanjutan                                         y.e. Financial Instruments - Continued

         (4) Akuntansi Lindung Nilai - Lanjutan                                     (4) Hedge Accounting - Continued

         - ada hubungan ekonomi antara item yang                                    -   there is an economic relationship between the
           dilindungi nilai dan instrumen lindung nilai;                                hedged item and the hedging instrument;
         - pengaruh risiko kredit tidak mendominasi                                 -   the effect of credit risk does not dominate the
           perubahan nilai yang dihasilkan dari hubungan                                value changes that result from that economic
           ekonomi tersebut; dan                                                        relationship; and
         - rasio lindung nilai dari hubungan lindung nilai                          -   the hedge ratio of the hedging relationship is the
           adalah sama dengan yang dihasilkan dari jumlah                               same as that resulting from the quantity of the
           item yang dilindungi nilai yang sebenarnya                                   hedged item that the Entity’s and Subsidiary
           dilindung nilai oleh Entitas dan Entitas Anak dan                            actually hedges and the quantity of the hedging
           jumlah instrumen lindung nilai yang sebenarnya                               instrument that the Entity’s and Subsidiary
           digunakan Entitas dan Entitas Anak untuk                                     actually uses to hedge that quantity of hedged
           lindung nilai atas jumlah item yang dilindungi                               item.
           nilai tersebut.

         Jika hubungan lindung nilai tidak lagi memenuhi                            If a hedging relationship ceases to meet the hedge
         persyaratan efektivitas lindung nilai yang berkaitan                       effectiveness requirement relating to the hedge ratio
         dengan rasio lindung nilai tetapi tujuan manajemen                         but the risk management objective for that designated
         risiko untuk hubungan lindung nilai yang ditentukan                        hedging relationship remains the same, the Entity’s
         tetap sama, Entitas dan Entitas Anak menyesuaikan                          and Subsidiary adjusts the hedge ratio of the hedging
         rasio lindung nilai dari hubungan lindung nilai (yaitu                     relationship (i.e. rebalances the hedge) so that it
         menyeimbangkan kembali lindung nilai) sehingga                             meets the qualifying criteria again.
         memenuhi kriteria kualifikasi lagi.

         Entitas dan Entitas Anak hanya menetapkan nilai                            The Entity’s and Subsidiary designates only the
         intrinsik kontrak opsi sebagai item lindung nilai.                         intrinsic value of option contracts as a hedged item.
         Perubahan nilai wajar dari nilai waktu selaras dari                        The changes in the fair value of the aligned time value
         opsi diakui dalam penghasilan komprehensif lain                            of the option are recognized in other comprehensive
         dan diakumulasikan dalam biaya penyisihan lindung                          income and accumulated in the cost of hedging
         nilai. Jika item yang dilindungi nilainya terkait                          reserve. If the hedged item is transaction‑related, the
         dengan transaksi, nilai waktunya direklasifikasi ke                        time value is reclassified to profit or loss when the
         laba rugi ketika item yang dilindungi nilainya                             hedged item affects profit or loss. If the hedged item
         mempengaruhi laba rugi. Jika item yang dilindungi                          is time‑period related, then the amount accumulated
         nilai terkait dengan periode waktu, maka jumlah                            in the cost of hedging reserve is reclassified to profit
         yang terakumulasi dalam biaya penyisihan lindung                           or loss on a rational basis – the Entity’s and
         nilai direklasifikasi ke laba rugi secara basis rasional                   Subsidiary applies straight‑line amortization. Those
         – Entitas dan Entitas Anak menerapkan amortisasi                           reclassified amounts are recognized in profit or loss
         garis lurus. Jumlah yang direklasifikasi tersebut                          in the same line as the hedged item. If the hedged item
         diakui dalam laporan laba rugi pada baris yang sama                        is a non‑financial item, then the amount accumulated
         dengan item yang dilindungi nilai. Jika item yang                          in the cost of hedging reserve is removed directly
         dilindungi nilai adalah item non-keuangan, maka                            from equity and included in the initial carrying
         jumlah yang terakumulasi dalam biaya penyisihan                            amount of the recognized non‑financial item.
         lindung nilai dihapus langsung dari ekuitas dan                            Furthermore, if the Entity’s and Subsidiary expects
         dimasukkan ke dalam jumlah tercatat awal item non-                         that some or all of the loss accumulated in cost of
         keuangan yang diakui. Selanjutnya, jika Entitas dan                        hedging reserve will not be recovered in the future,
         Entitas Anak mengharapkan sebagian atau seluruh                            that amount is immediately reclassified to profit or
         kerugian yang terakumulasi dalam biaya penyisihan                          loss.
         lindung nilai tidak akan dipulihkan di masa depan,
         jumlah tersebut segera direklasifikasi ke laba rugi.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI               3.    MATERIAL           ACCOUNTING                   POLICIES
     MATERIAL - Lanjutan                                                    INFORMATION - Continued
                                                                           z.
     e. Instrumen Keuangan - Lanjutan                                      aa.
                                                                            e. Financial Instruments - Continued

         (4) Akuntansi Lindung Nilai – Lanjutan                                  (4) Hedge Accounting - Continued

         Lindung Nilai - Nilai Wajar                                             Fair Value Hedges

         Perubahan nilai wajar atas instrumen lindung nilai                      The fair value change on qualifying hedging
         yang memenuhi syarat diakui dalam laporan laba                          instruments is recognized in profit or loss except
         rugi kecuali jika instrumen lindung nilai tersebut                      when the hedging instrument hedges an equity
         melakukan lindung nilai atas instrumen ekuitas yang                     instrument designated at FVOCI in which case it is
         ditetapkan pada FVOCI dalam hal ini diakui dalam                        recognized in other comprehensive income.
         penghasilan komprehensif lain.

         Nilai tercatat item yang dilindungi nilai yang belum                    The carrying amount of a hedged item not already
         diukur pada nilai wajar disesuaikan dengan                              measured at fair value is adjusted for the fair value
         perubahan nilai wajar yang dapat diatribusikan pada                     change attributable to the hedged risk with a
         risiko lindung nilai dengan entri yang sesuai dalam                     corresponding entry in profit or loss. For debt
         laba rugi. Untuk instrumen utang yang diukur pada                       instruments measured at FVOCI, the carrying
         FVOCI, nilai tercatatnya tidak disesuaikan karena                       amount is not adjusted as it is already at fair value,
         telah diukur pada nilai wajarnya, tetapi keuntungan                     but the hedging gain or loss is recognized in profit or
         atau kerugian lindung nilai diakui dalam laba rugi,                     loss instead of other comprehensive income. When
         bukan penghasilan komprehensif lain. Jika item                          the hedged item is an equity instrument designated at
         lindung nilai merupakan instrumen ekuitas yang                          FVOCI, the hedging gain or loss remains in other
         ditetapkan pada FVOCI, keuntungan atau kerugian                         comprehensive income to match that of the hedging
         lindung nilai tetap berada dalam penghasilan                            instrument.
         komprehensif lain agar sesuai dengan instrumen
         lindung nilai.

         Entitas dan Entitas Anak menghentikan akuntansi                         The Entity’s and Subsidiary discontinues hedge
         lindung nilai hanya jika hubungan lindung nilai (atau                   accounting only when the hedging relationship (or a
         bagian darinya) tidak lagi memenuhi kriteria                            part thereof) ceases to meet the qualifying criteria
         kualifikasi (setelah penyeimbangan kembali, jika                        (after rebalancing, if applicable). This includes
         berlaku). Ini termasuk contoh ketika instrumen                          instances when the hedging instrument expires or is
         lindung nilai kedaluwarsa atau dijual, dihentikan                       sold, terminated or exercised. The discontinuation is
         atau dilaksanakan. Penghentian diperhitungkan                           accounted for prospectively. The fair value
         secara prospektif. Penyesuaian nilai wajar atas nilai                   adjustment to the carrying amount of the hedged item
         tercatat item yang dilindungi nilai yang timbul dari                    arising from the hedged risk is amortized to profit or
         risiko lindung nilai diamortisasi ke laba rugi sejak                    loss from that date.
         tanggal tersebut.

         Lindung Nilai - Arus Kas                                                Cash Flow Hedges

         Bagian efektif dari perubahan nilai wajar derivatif                     The effective portion of changes in the fair value of
         dan instrumen lindung nilai lain yang memenuhi                          derivatives and other qualifying hedging instruments
         syarat yang ditetapkan dan memenuhi syarat sebagai                      that are designated and qualify as cash flow hedges
         lindung nilai arus kas, diakui dalam penghasilan                        is recognized in other comprehensive income and
         komprehensif lain dan diakumulasikan dalam akun                         accumulated under the heading of cash flow hedging
         penyisihan lindung nilai arus kas, terbatas pada                        reserve, limited to the cumulative change in fair
         perubahan kumulatif nilai wajar dari item yang                          value of the hedged item from inception of the hedge.
         dilindungi nilai sejak dimulainya lindung nilai.                        The gain or loss relating to the ineffective portion is
         Keuntungan atau kerugian yang terkait dengan                            recognized immediately in profit or loss, and is
         bagian yang tidak efektif segera diakui dalam laba                      included in the “Other Gains and Losses” line item.
         rugi, dan dimasukkan dalam baris "Keuntungan dan
         Kerugian Lainnya".




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                            ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                          STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                      As of and For The Year Ended
31 Desember 2024                                                                                           December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                   AKUNTANSI               3.    MATERIAL           ACCOUNTING                    POLICIES
     MATERIAL - Lanjutan                                                     INFORMATION - Continued
                                                                            bb.
     e. Instrumen Keuangan - Lanjutan                                       cc.
                                                                             e. Financial Instruments - Continued

         (4) Akuntansi Lindung Nilai                                             (4)   Hedge Accounting

         Lindung Nilai - Arus Kas - Lanjutan                                      Cash Flow Hedges - Continued

         Jumlah yang sebelumnya diakui dalam penghasilan                          Amounts      previously     recognized       in   other
         komprehensif lain dan diakumulasi dalam ekuitas                          comprehensive income and accumulated in equity
         direklasifikasi ke laba rugi pada periode ketika item                    are reclassified to profit or loss in the periods when
         yang dilindungi nilai mempengaruhi laba rugi, di                         the hedged item affects profit or loss, in the same line
         baris yang sama dengan item yang dilindungi nilai                        as the recognized hedged item. However, when the
         yang diakui. Namun, ketika prakiraan transaksi                           hedged forecast transaction results in the recognition
         lindung nilai menghasilkan pengakuan aset non-                           of a non-financial asset or a non-financial liability,
         keuangan atau liabilitas non-keuangan, keuntungan                        the gains and losses previously recognized in other
         dan kerugian yang sebelumnya diakui dalam                                comprehensive income and accumulated in equity
         penghasilan komprehensif lain dan diakumulasi                            are removed from equity and included in the initial
         dalam ekuitas dikeluarkan dari ekuitas dan                               measurement of the cost of the non-financial asset or
         dimasukkan dalam pengukuran awal biaya aset non-                         non-financial liability. This transfer does not affect
         keuangan atau kewajiban non-keuangan. Transfer                           other comprehensive income. Furthermore, if the
         ini tidak mempengaruhi penghasilan komprehensif                          Entity’s and Subsidiary expects that some or all of
         lain. Lebih lanjut, jika Entitas dan Entitas Anak                        the loss accumulated in other comprehensive income
         memperkirakan bahwa sebagian atau seluruh                                will not be recovered in the future, that amount is
         kerugian yang diakumulasi dalam penghasilan                              immediately reclassified to profit or loss.
         komprehensif lain tidak akan dipulihkan di masa
         depan, jumlah tersebut segera direklasifikasi ke laba
         rugi.

         Lindung Nilai Investasi Bersih dalam Operasi                             Hedges of Net Investments in Foreign Operations
         Asing

         Lindung nilai atas investasi bersih dalam operasi                        Hedges of net investments in foreign operations are
         asing dicatat serupa dengan lindung nilai arus kas.                      accounted for similarly to cash flow hedges. Any gain
         Keuntungan atau kerugian dari instrumen lindung                          or loss on the hedging instrument relating to the
         nilai yang terkait dengan bagian efektif dari lindung                    effective portion of the hedge is recognized in other
         nilai diakui dalam penghasilan komprehensif lain                         comprehensive income and accumulated under the
         dan diakumulasikan dalam akun penyisihan                                 heading of foreign currency translation reserve. The
         penjabaran mata uang asing. Keuntungan atau                              gain or loss relating to the ineffective portion is
         kerugian yang terkait dengan bagian yang tidak                           recognized immediately in profit or loss, and is
         efektif segera diakui dalam laba rugi, dan                               included in the “Other Gains and Losses” line item.
         dimasukkan dalam baris "Keuntungan dan Kerugian
         Lainnya".

         Keuntungan dan kerugian dari instrumen lindung                           Gains and losses on the hedging instrument relating
         nilai terkait dengan bagian efektif dari lindung nilai                   to the effective portion of the hedge accumulated in
         yang diakumulasi dalam penyisihan penjabaran                             the foreign currency translation reserve are
         mata uang asing direklasifikasi ke laba rugi atas                        reclassified to profit or loss on the disposal or partial
         pelepasan atau pelepasan sebagian operasi luar                           disposal of the foreign operation.
         negeri.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                            ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                          STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                      As of and For The Year Ended
31 Desember 2024                                                                                           December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                    AKUNTANSI              3.    MATERIAL           ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                     INFORMATION - Continued
                                                                            dd.
     e. Instrumen Keuangan - Lanjutan                                       ee. Financial Instruments - Continued

          (5) Pengaturan Saling Hapus                                               (5)   Offsetting Arrangements

          Aset keuangan dan liabilitas keuangan saling hapus                        Financial assets and financial liabilities are offset
          dan jumlah bersih disajikan di laporan posisi                             and the net amount presented in the statement of
          keuangan jika, dan hanya jika, Entitas dan Entitas                        financial position when, and only when, the Entity’s
          Anak memiliki hak yang dapat diberlakukan secara                          and Subsidiary has a legally enforceable right to set
          hukum untuk menghapus jumlah yang diakui; dan                             off the recognized amounts; and intends either to
          bermaksud untuk menyelesaikan secara neto, atau                           settle on a net basis, or to realize the asset and settle
          untuk merealisasikan aset dan menyelesaikan                               the liability simultaneously. A right to set-off must be
          liabilitas secara bersamaan. Hak untuk kompensasi                         available today rather than being contingent on a
          harus tersedia saat kini daripada bergantung pada                         future event and must be exercisable by any of the
          peristiwa di masa depan dan harus dapat                                   counterparties, both in the normal course of business
          dilaksanakan oleh salah satu pihak lawan, baik                            and in the event of default, insolvency or bankruptcy.
          dalam kegiatan bisnis normal dan dalam hal terjadi
          gagal bayar (default), keadaan tidak dapat
          membayar (insolvency) atau kebangkrutan.

          (6) Reklasifikasi Instrumen Keuangan                                      (6)   Reclassification of Financial Instruments

          Untuk aset keuangan, diperlukan reklasifikasi antara                      For financial assets, reclassification is required
          FVTPL, FVOCI dan biaya perolehan diamortisasi,                            between FVTPL, FVOCI and amortized cost, if and
          jika dan hanya jika tujuan model bisnis entitas untuk                     only if the entity's business model objective for its
          aset keuangannya berubah sehingga penilaian model                         financial assets changes so its previous model
          sebelumnya tidak berlaku lagi.                                            assessment would no longer apply.

          Jika reklasifikasi sudah sesuai, maka harus                               If reclassification is appropriate, it must be done
          dilakukan secara prospektif sejak tanggal                                 prospectively from the reclassification date which is
          reklasifikasi yang ditetapkan sebagai hari pertama                        defined as the first day of the first reporting period
          periode pelaporan pertama setelah perubahan model                         following the change in business model. The Entity’s
          bisnis. Entitas dan Entitas Anak tidak menyajikan                         and Subsidiary does not restate any previously
          kembali keuntungan, kerugian, atau bunga yang                             recognized gains, losses, or interest.
          diakui sebelumnya.

          PSAK 109 tidak mengizinkan reklasifikasi:                                 PSAK 109 does not allow reclassification:
          - untuk investasi ekuitas yang diukur pada FVOCI,                         - for equity investments measured at FVOCI, or
            atau
          - di mana opsi nilai wajar telah dilaksanakan dalam                       - where the fair value option has been exercised
            kondisi apapun untuk aset keuangan atau                                   under any circumstances for the financial asset or
            liabilitas keuangan.                                                      financial liability
                                                                            ff.
          Liabilitas keuangan tidak dapat direklasifikasi.                  dd.     The financial liability shall not be reclassified.
                                                                            hh.
     f.   Transaksi dengan Pihak-pihak Berelasi                             ff.f.   Transactions with Related Parties

          Pihak-pihak berelasi adalah orang atau entitas yang                       Related party represents a person or an entity who is
          terkait dengan entitas pelapor:                                           related to the reporting entity:




                                                                  37
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                  PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                             ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                           STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                       As of and For The Year Ended
31 Desember 2024                                                                                            December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                    AKUNTANSI               3.      MATERIAL       ACCOUNTING                         POLICIES
     MATERIAL - Lanjutan                                                        INFORMATION - Continued

     f. Transaksi dengan Pihak-pihak Berelasi - Lanjutan                     gg.f.   Transactions with Related Parties - Continued

         (a)   Orang atau anggota keluarga terdekat                                  (a)   A person or a close member of the person’s
               mempunyai relasi dengan entitas pelapor jika                                family is related to a reporting entity if that
               orang tersebut:                                                             person:
               (i) memiliki           pengendalian    atau                                 (i) has control or joint control over the
                     pengendalian bersama atas entitas                                           reporting entity;
                     pelapor;
               (ii) memiliki pengaruh signifikan atas                                      (ii)  has significant influence over the
                     entitas pelapor; atau                                                       reporting entity; or
               (iii) personil manajemen kunci entitas                                      (iii) is a member of the key management
                     pelapor atau entitas induk entitas                                          personnel of the reporting entity or of a
                     pelapor.                                                                    parent of the reporting entity.

         (b)   Suatu entitas berelasi dengan entitas pelapor                         (b)   An entity is related to a reporting entity if any
               jika memenuhi salah satu hal berikut:                                       of the following conditions applies:
               (i) entitas dan entitas pelapor adalah                                      (i) the entity and the reporting entity are
                     anggota dari Entitas dan Entitas Anak                                       members of the same group (which means
                     yang sama (artinya entitas induk, entitas                                   that each parent, subsidiary and fellow
                     anak, dan entitas anak berikutnya terkait                                   subsidiary is related to the others).
                     dengan entitas lain).
               (ii) satu entitas adalah entitas asosiasi atau                              (ii)   one entity is an associate or joint venture
                     ventura bersama dari entitas lain (atau                                      of the other entity (or an associate or joint
                     entitas asosiasi atau ventura bersama                                        venture of a member of Entity and
                     yang merupakan anggota suatu Entitas                                         Subsidiary of which the other entity is a
                     dan Entitas Anak, yang mana entitas lain                                     member).
                     tersebut adalah anggotanya).
               (iii) kedua entitas tersebut adalah ventura                                 (iii) both entities are joint ventures of the
                     bersama dari pihak ketiga yang sama.                                        same third party.
               (iv) satu entitas adalah ventura bersama dari                               (iv) one entity is a joint venture of a third
                     entitas ketiga dan entitas yang lain                                        entity and the other entity is an associate
                     adalah entitas asosiasi dari entitas                                        of the third entity.
                     ketiga.
               (v) entitas tersebut adalah suatu program                                   (v)    the entity is a post-employment benefit
                     imbalan pascakerja untuk imbalan kerja                                       plan for the benefit of employees of either
                     dari salah satu entitas pelapor atau                                         the reporting entity or an entity related to
                     entitas yang terkait dengan entitas                                          the reporting entity. If the reporting entity
                     pelapor. Jika entitas pelapor adalah                                         is itself such a plan, the sponsoring
                     entitas yang menyelenggarakan program                                        employers are also related to the
                     tersebut, maka entitas sponsor juga                                          reporting entity.
                     berelasi dengan entitas pelapor.
               (vi) entitas      yang     dikendalikan      atau                           (vi) the entity is controlled or jointly
                     dikendalikan bersama oleh orang yang                                       controlled by a person identified in (a).
                     diidentifikasi dalam huruf (a).
               (vii) orang yang diidentifikasi dalam huruf                                 (vii) a person identified in (a) (i) has
                     (a) (i) memiliki pengaruh signifikan atas                                    significant influence over the entity or is
                     entitas atau personil manajemen kunci                                        a member of the key management
                     entitas (atau entitas induk dari entitas).                                   personnel of the entity (or of a parent of
                                                                                                  the entity).
               (viii) entitas, atau anggota dari kelompok yang                             (viii) the entity, or any member of a group of
                      mana entitas merupakan bagian dari                                          which it is a part, provided key
                      kelompok tersebut, menyediakan jasa                                         management personnel services to the
                      personil manajemen kunci kepada                                             reporting entity or to the parent of the
                      entitas pelapor atau kepada entitas induk                                   reporting entity.
                      dari entitas pelapor.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                  PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                             ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                           STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                       As of and For The Year Ended
31 Desember 2024                                                                                            December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                       (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                    AKUNTANSI               3.       MATERIAL       ACCOUNTING                       POLICIES
     MATERIAL - Lanjutan                                                         INFORMATION - Continued

     f. Transaksi dengan Pihak-pihak Berelasi - Lanjutan                      hh.f.   Transactions with Related Parties - Continued

         Entitas atau anggota dari kelompok yang mana                                 The Entity or any member of a group of which it is a
         entitas merupakan bagian dari kelompok tersebut,                             part, provides key management personnel services to
         menyediakan jasa personil manajemen kunci kepada                             the reporting Entity or to the parent of the reporting
         entitas pelapor atau kepada entitas induk dari entitas                       entity.
         pelapor.

         Seluruh saldo dan transaksi yang signifikan dengan                           All significant balances and transactions with related
         pihak berelasi, baik yang dilakukan dengan                                   parties, whether or not conducted under the normal
         persyaratan dan kondisi normal sebagaimana yang                              terms and conditions similar to those transacted with
         dilakukan dengan pihak ketiga, diungkapkan dalam                             parties, are disclosed in the notes to the consolidated
         catatan atas laporan keuangan konsolidasian.                                 financial statements.

     g. Persediaan                                                            ll. g. Inventories

         Persediaan dinyatakan sebesar nilai terendah antara                          Inventories are stated at the lower of cost or net
         biaya perolehan atau nilai realisasi neto (the lower of                      realizable value, whichever is lower. Cost is
         cost or net realizable value). Biaya perolehan                               determined using the average method. Which
         persediaan ditentukan dengan metode rata-rata                                reflecting the current condition of inventories.
         (average method) yang mencerminkan kondisi
         terkini persediaan.

         Nilai realisasi neto adalah estimasi harga jual dalam                        Net realizable value represents the estimated selling
         kegiatan usaha normal dikurangi estimasi biaya                               price in the ordinary course of business less the
         penyelesaian dan estimasi biaya yang diperlukan                              estimated cost of completion and the estimated costs
         untuk membuat penjualan.                                                     necessary to make the sale.

         Penyisihan atas persediaan usang atau penurunan                              Allowance for inventory losses, obsolescence or
         nilai persediaan ditetapkan berdasarkan penelaahan                           decline in stock value are based on a review of the
         berkala terhadap kondisi fisik dan tingkat perputaran                        physical conditions and inventory turnover.
         persediaan.

     h. Biaya Dibayar di Muka                                                 i. h. Prepaid Expenses

         Biaya dibayar di muka dibebankan pada laba rugi                              Prepaid expenses are amortized over their beneficial
         tahun berjalan sesuai masa manfaat masing-masing                             periods by using the straight-line method.
         biaya dengan menggunakan metode garis lurus
         (straight-line method).

     i. Aset Tetap                                                           j. i.    Property, Plant and Equipment

         Tanah, bangunan dan prasarana serta mesin dan                                Land, buildings and improvements, and machines and
         peralatan dicatat pada jumlah revaluasian, yaitu nilai                       equipment are stated at their revalued amount, being
         wajar pada tanggal revaluasi dikurangi akumulasi                             the fair value at the date of revaluation, less any
         penyusutan dan akumulasi rugi penurunan nilai yang                           subsequent     accumulated       depreciation    and
         terjadi setelah tanggal revaluasi. Revaluasi                                 subsequent accumulated impairment losses.
         dilakukan dengan keteraturan yang cukup reguler                              Revaluations are performed with sufficient regularity
         untuk memastikan bahwa jumlah tercatat tidak                                 such that the carrying amount does not differ
         berbeda secara material dari jumlah yang ditentukan                          materially from that which would be determined
         dengan menggunakan nilai wajar pada tanggal posisi                           using fair values at financial position date. The
         keuangan. Atas perubahan kebijakan akuntansi dari                            changes of accounting policies from cost model to
         model biaya ke model revaluasi, maka perubahan                               cost revaluation are applied prospectively.
         tersebut berlaku secara prospektif.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                  PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                             ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                           STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                       As of and For The Year Ended
31 Desember 2024                                                                                            December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                    AKUNTANSI               3.      MATERIAL       ACCOUNTING                       POLICIES
     MATERIAL - Lanjutan                                                        INFORMATION - Continued
                                                                             k.
     i.   Aset Tetap - Lanjutan                                              l. i.    Property, Plant and Equipment - Continued

          Penyusutan dihitung dengan menggunakan metode                               Depreciation is computed using the straight-line
          garis lurus untuk kelompok bangunan dan prasarana                           method for buildings and improvements. depreciation
          sedangkan untuk kelompok selain bangunan dan                                of non-buildings and improvements are computed
          prasarana disusutkan dengan metode saldo menurun                            using the double-declining-balance-method based on
          ganda berdasarkan taksiran masa manfaat ekonomis                            the estimated useful lives of the assets as follows:
          sebagai berikut:
                                                                                     Presentase/
                                                 Tahun/Years
                                                                                     Percentage
          Bangunan dan prasarana                      20                                 5%                      Building and improvement
          Mesin dan peralatan                       4 - 25                            25% – 4%                   Machinery and equipment

          Estimasi masa manfaat ekonomis, nilai residu dan                            The estimated of useful lives, residual values and
          metode penyusutan direview setiap akhir tahun dan                           depreciation method are reviewed at the end of the
          pengaruh dari setiap perubahan estimasi tersebut                            year and the effect of any changes in estimate
          berlaku prospektif.                                                         accounted for prospectively.

          Kenaikan yang berasal dari revaluasi tanah,                                 Any revaluation increase arising on the revaluation
          bangunan dan mesin tersebut langsung dikreditkan                            of such land, building and machines is credited to the
          ke surplus revaluasi pada pendapatan komprehensif                           revaluation surplus in other comprehensive income,
          lain, kecuali sebelumnya penurunan revaluasi atas                           except to the extent that it reverses a revaluation
          aset yang sama pernah diakui dalam laporan laba                             decrease, for the same asset which was previously
          rugi dan        penghasilan komprehensif         lain                       recognized in consolidated statement of profit or loss
          konsolidasian, dalam hal ini kenaikan revaluasi                             and other comprehensive income, in which case the
          hingga sebesar penurunan nilai aset akibat revaluasi                        increase is credited to consolidated statement of
          tersebut, dikreditkan dalam laporan laporan laba rugi                       profit or loss and other comprehensive income to the
          dan penghasilan komprehensif lain konsolidasian.                            extent of the decrease previously charged. A decrease
          Penurunan jumlah tercatat yang berasal dari                                 in carrying amount arising on the revaluation is
          revaluasi aset tetap dibebankan dalam laporan laba                          charged to consolidated statement of profit or loss
          rugi dan        penghasilan komprehensif         lain                       and other comprehensive income to the extent that it
          konsolidasian apabila penurunan tersebut melebihi                           exceeds the balance, if any, held in the preperties
          saldo akun surplus revaluasi aset tetap yang berasal                        revaluation reserve relating to a provious
          dari revaluasi sebelumnya, jika ada.                                        revaluation.

          Penyusutan atas nilai revaluasian bangunan dan                              Depreciation      on     revalued    building     and
          prasarana serta mesin dan peralatan dibebankan ke                           improvements and machines and equipment are
          laporan laba rugi dan penghasilan komprehensif lain                         charged to consolidated statement of profit or loss
          konsolidasian. Bila aset tetap yang telah direvaluasi                       and other comprehensive income. The attributable
          dilepas atau dihentikan penggunaanya, saldo surplus                         revaluation surplus remaining in the property, plant
          revaluasi tersisa dipindahkan langsung ke saldo laba                        and equipment, revaluation reserve is transferred
          beserta pengaruh pajaknya.                                                  directly to retained earnings with the tax impact.

          Akumulasi penyusutan pada tanggal revaluasi                                 Accumulated depreciation at the date of revaluation
          diperlakukan dengan cara dieliminasikan terhadap                            is treated in a manner eliminated against the gross
          jumlah tercatat bruto dari aset dan jumlah tercatat                         carrying amount of assets and the carrying amount
          neto setelah eliminasi disajikan sebesar jumlah                             net of eliminations is presented again at the amount
          revaluasian dari aset tersebut.                                             of revaluation of assets.

          Keuntungan dan kerugian yang timbul dari                                    The gain or loss arising on sale or retirement of land,
          penjualan atau penghentian tanah, bangunan dan                              buildings and improvements and machines and
          prasarana serta mesin dan peralatan ditentukan                              equipment is determined as the difference between
          sebesar perbedaan antara jumlah neto hasil                                  the sales proceeds and carrying amount of the assets
          pelepasan dan jumlah tercatat dari aset tetap tersebut                      and is recognized in the consolidated statement of
          dan dicatat dalam laporan laba rugi dan penghasilan                         profit or loss and other comprehensive income.
          komprehensif lain konsolidasian.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                            ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                          STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                      As of and For The Year Ended
31 Desember 2024                                                                                           December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                   AKUNTANSI               3.     MATERIAL       ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                      INFORMATION - Continued

     i.   Aset Tetap - Lanjutan                                             m.i.   Property, Plant and Equipment - Continued

          Entitas melakukan revaluasi karena adanya                                The Entity revalued due to changes in accounting
          perubahan kebijakan akuntansi, tidak dilakukan                           policies, revaluation was not carried out for fiscal
          revaluasi karena alasan fiskal sehingga tidak ada                        reasons so that there was no reporting to the
          pelaporan ke Direktorat Jendral Pajak untuk                              Directorate General of Taxes for the permit.
          perijinan tersebut.

          Revaluasi akan dilakukan secara tahunan bagi aset                        Revaluation will be carried out annually for assets
          yang mengalami perubahan nilai wajar secara                              that experience significant and volatile changes in
          signifikan dan fluktuatif sedangkan bagi aset yang                       fair value, while assets that do not experience
          tidak mengalami perubahan nilai wajar secara                             significant changes in fair value must be revalued at
          signifikan wajib direvaluasi paling kurang setiap                        least every 3 (three) years.
          3 (tiga) tahun.

          Entitas telah menerapkan metode revaluasi sebagai                        The Entity has applied the revaluation method as an
          kebijakan akuntansi pada pencatatan aset tetap sejak                     accounting policy to the recording of property, plant
          1 Januari 2009.                                                          and equipment since January 1, 2009.

          Aset tetap lainnya                                                       Other Property, Plant and Equipment

          Aset tetap lainnya dinyatakan berdasarkan biaya                          Other property, plant and equipment is stated at cost
          perolehan setelah dikurangi akumulasi penyusutan                         less accumulated depreciation and any accumulated
          dan akumulasi kerugian penurunan nilai.                                  impairment losses. Depreciation is computed using
          Penyusutan dihitung dengan menggunakan metode                            the double-declining method based on the estimated
          saldo menurun ganda berdasarkan taksiran masa                            useful lives of the assets as follows:
          manfaat ekonomis aset tetap sebagai berikut:
                                                                             Presentase/
                                              Tahun/Years
                                                                             Percentage
           Kendaraan                               2-4                       50% - 25%                                         Vehicles
           Inventaris kantor                       2-4                       50% - 25%                     Office furniture and fixtures
          Aset hak-guna disusutkan berdasarkan taksiran                            Right of use-asset are depreciated based on the same
          masa manfaat ekonomis yang sama dengan aset                              estimated useful life as owned assets.
          yang dimiliki sendiri.

          Estimasi masa manfaat ekonomis, nilai residu dan                         The estimated useful lives, residual values and
          metode penyusutan direview setiap akhir tahun dan                        depreciation method are reviewed at each year end,
          pengaruh dari setiap perubahan estimasi tersebut                         with the effect of any changes in estimates accounted
          berlaku prospektif.                                                      for on a prospective basis.

          Penyusutan dihentikan lebih awal ketika aset yang                        Depreciation is discontinued earlier if the
          dimiliki diklasifikasikan sebagai aset untuk dijual                      classification of assets owned are ready to dispose of
          atau aset tersebut termasuk dalam kelompok aset                          or those assets are retired.
          yang tidak digunakan lagi.

          Jumlah tercatat aset tetap yang dilepaskan atau sudah                    Net book value of other property, plant and
          tidak mempunyai manfaat ekonomis masa depan                              equipment disposed or when they have no expected
          yang diharapkan dari penggunaan atau pelepasannya                        economical future value from their usage or disposal.
          dihentikan pangakuannya. Laba atau rugi yang                             Gain or loss on disposal of other equipment reflected
          timbul dari penghentian pengakuan aset tetap harus                       in current operations as the other equipment retired.
          dimasukkan dalam laporan laba rugi pada saat aset
          tersebut dihentikan pengakuannya.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                  PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                             ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                           STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                       As of and For The Year Ended
31 Desember 2024                                                                                            December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                          (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                    AKUNTANSI               3.         MATERIAL       ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                           INFORMATION - Continued

     i.   Aset Tetap - Lanjutan                                               n. i.    Property, Plant and Equipment - Continued

          Beban pemeliharaan dan perbaikan dibebankan pada                             The cost of maintenance and repairs is charged to
          laporan laba rugi dan penghasilan komprehensif lain                          consolidated statement of profit or loss and other
          konsolidasian pada saat terjadinya. Biaya-biaya lain                         comprehensive income. Other costs incurred
          yang terjadi selanjutnya yang timbul untuk                                   subsequently to add, to replace part of, or to repair
          menambah, mengganti atau memperbaiki aset tetap                              an item of other equipment, are recognized as an
          dicatat sebagai biaya perolehan aset jika dan hanya                          asset if, and only if, it is probable that future
          jika besar kemungkinan manfaat ekonomis di masa                              economic benefits associated with the item will flow
          depan berkenaan dengan aset tersebut akan mengalir                           to the entity and the cost of the item can be measured
          ke entitas dan biaya perolehan aset dapat diukur                             reliably. When assets are retired or otherwise
          secara andal. Aset tetap yang sudah tidak digunakan                          disposed of, their carrying values and the related
          lagi atau yang dilepas dikeluarkan dari kelompok                             accumulated depreciations and any impairment
          aset tetap berikut akumulasi penyusutannya.                                  losses are removed from the accounts and any
          Keuntungan atau kerugian dari pelepasan aset tetap                           resulting losses from the disposal of property, plant
          tersebut dibukukan dalam laporan laba rugi dan                               and equipment recognized in the consolidated
          penghasilan komprehensif lain konsolidasian pada                             statement of profit or loss and other comprehensive
          tahun yang bersangkutan.                                                     income is reflected in the current operations.

          Aset dalam penyelesaian dinyatakan sebesar biaya                             Construction in progress is stated at cost. less any
          perolehan dikurangi penurunan nilai yang ada.                                impairment loss and is transferred to the respective,
          Akumulasi biaya perolehan akan dipindahkan ke                                property, plant and equipment account when
          masing-masing aset tetap yang bersangkutan pada                              completed and ready for use.
          saat selesai dan siap digunakan.

     j.   Properti Investasi                                                 h. j.     Investment Property
                                                                             i.
          Properti investasi adalah properti (tanah atau                     j.        Investment property is property (land or buildings or
          bangunan atau bagian dari suatu bangunan atau                                parts of a building or both) held to earn rentals or for
          kedua-duanya) untuk menghasilkan rental atau                                 capital appreciation or both, and not used in the
          untuk kenaikan nilai atau kedua-duanya, dan tidak                            production or supply of goods or services for
          digunakan dalam produksi atau penyediaan barang                              administrative purposes or sold in the ordinary
          atau jasa untuk tujuan administratif atau dijual dalam                       course of business day. Investment property is
          kegiatan usaha sehari-hari. Properti investasi diukur                        measured at cost.
          sebesar nilai perolehan.
                                                                             k.
          Properti investasi pada awalnya diukur sebesar biaya               l.        Investment property is initially recognized at
          perolehan. Setelah pengakuan awal, Entitas dan                               acquisition cost. The Entity and Subsidiary have
          Entitas Anak memilih model biaya sebagai                                     chosen the cost model as the accounting policy for its
          kebijakan     akuntansi     pengukuran      properti                         investment property measurement.
          investasinya.
                                                                             m.
          Properti investasi dihentikan pengakuannya pada                    n.        Investment property is derecognized upon permanent
          saat dilepaskan secara permanen atau tidak                                   disposal or not used permanently and no future
          digunakan secara permanen dan tidak memiliki                                 economic benefits are expected from its disposal.
          manfaat ekonomi masa depan yang diperkirakan dari                            Gains or losses arising from the retirement or
          pelepasannya. Keuntungan atau kerugian yang                                  disposal of investment property are recognized in the
          timbul dari transaksi penghentian atau pelepasan                             consolidated statements of profit or loss and other
          properti investasi diakui dalam laporan laba rugi dan                        comprehensive income, except for the sale and lease-
          penghasilan komprehensif lain konsolidasian                                  back.
          kecuali transaksi jual dan sewa-balik.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                            ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                          STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                      As of and For The Year Ended
31 Desember 2024                                                                                           December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                         (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                   AKUNTANSI               3.         MATERIAL       ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                          INFORMATION - Continued

     k. Aset Takberwujud                                                          k. Intangible Assets

          Aset takberwujud meliputi biaya perolehan                                   Intangible assets that consist of costs of computer
          perangkat lunak yang diamortisasi dengan metode                             software are amortized using the straight-line
          garis lurus selama masa manfaat 5-10 tahun.                                 method over their beneficial periods of 5-10 years.

     l.   Investasi pada Entitas Asosiasi                                    o. l.    Investment in Associate

          Entitas asosiasi adalah suatu entitas dimana Entitas              k.        An associate is an entity over which the Entiy and
          dan Entitas Anak memiliki pengaruh signifikan dan                           Subsidiary have significant influence and that is
          bukan merupakan entitas anak atau ventura bersama.                          neither a subsidiary nor an interest in a joint venture.
          Pengaruh signifikan adalah kekuasaan untuk ikut                             Significant influence is the power to participate in the
          serta dalam mengambil keputusan atas kebijakan                              financial and operating policy decisions of the
          keuangan dan operasional investee tetapi tidak                              investee but is not control or joint control over those
          mengendalikan atau mengendalikan bersama atas                               policies.
          kebijakan tersebut.

          Dalam metode ekuitas, pengakuan awal investasi                    l.        Under the equity method, the investment in an
          pada entitas asosiasi diakui sebesar biaya perolehan,                       associate is initially recognized at cost and adjusted
          dan jumlah tercatat tersebut ditambah atau dikurang                         thereafter for the post-acquisition change in the
          untuk mengakui bagian investor atas aset bersih                             investor’s share of the investee’s net assets. The
          investee setelah tanggal perolehan. Laba atau rugi                          investor’s profit or loss includes its share of the
          investor mencakup bagian dari laba atau rugi                                investee's profit or loss and the investor's OCI
          investee dan OCI dari investor mencakup bagian                              includes its share of the investee's OCI. Goodwill
          OCI dari investee. Goodwill terkait dengan entitas                          relating to the associate is included in the carrying
          asosiasi terdapat dalam jumlah tercatat investasi dan                       amount of the investment and is neither amortized nor
          tidak diamortisasi maupun dilakukan pengujian                               individually tested for impairment.
          penurunan nilai secara individu.
                                                                            m.
          Pada saat hilangnya pengaruh signifikan pada entitas              n.        Upon loss of significant influence over the associate,
          asosiasi, entitas mengakui setiap investasi yang                            the entity measures and recognizes any retained
          tersisa pada nilai wajar. Perbedaan antara jumlah                           investment as its fair value. Any difference between
          tercatat entitas asosiasi pada saat hilangnya                               the carrying amount of the associate upon loss of
          pengaruh signifikan dan nilai wajar dari investasi                          significant influence and the fair value of the retained
          yang tersisa dan hasil dari pelepasan diakui dalam                          investment and proceeds from disposal is recognized
          laba atau rugi.                                                             in profit or loss.

     m. Penurunan Nilai Aset Non-Keuangan                                   m. m. Impairment of Non-Financial Assets

          Sesuai dengan PSAK No. 236, mengenai                                        According to PSAK No. 236, regarding “Impairment
          “Penurunan Nilai Aset”, pada tanggal laporan posisi                         of Assets”, at the consolidated statement of financial
          keuangan konsolidasian, Entitas dan Entitas Anak                            position dates, the Entity and Subsidiary review the
          menelaah nilai tercatat aset non-keuangan untuk                             carrying amount of non-financial assets to determine
          menentukan apakah terdapat indikasi bahwa aset                              whether there is any indication that those assets have
          tersebut telah mengalami penurunan nilai.                                   suffered an impairment loss.

          Jika terdapat indikasi tersebut, nilai yang dapat                           If any such indication exists, the recoverable amount
          diperoleh kembali dari aset diestimasi untuk                                of the asset is estimated in order to determine the
          menentukan tingkat kerugian penurunan nilai (jika                           extent of the impairment loss (if any).
          ada).

          Bila tidak memungkinkan untuk mengestimasi nilai                            Where is it not possible to estimate the recoverable
          yang dapat diperoleh kembali atas suatu aset                                amount of an individual asset, the Entity and
          individu, Entitas dan Entitas Anak mengestimasi                             Subsidiary estimate the recoverable amount of the
          nilai yang dapat diperoleh kembali dari unit                                cash generating unit to which the asset belongs.
          penghasil kas atas aset. Perkiraan jumlah yang dapat                        Estimated recoverable amount is the higher of fair
          diperoleh kembali adalah nilai tertinggi antara harga                       value less costs to sell or value in use.
          jual neto atau nilai pakai.



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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI               3.     MATERIAL       ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                     INFORMATION - Continued

     m. Penurunan Nilai Aset Non-Keuangan - Lanjutan                       n. m. Impairment of Non-Financial Assets - Continued

         Jika jumlah yang dapat diperoleh kembali dari aset                      If the recoverable amount of a non-financial asset
         non-keuangan (unit penghasil kas) kurang dari nilai                     (cash generating unit) is less than it’s carrying
         tercatatnya, nilai tercatat aset (unit penghasil kas)                   amount, the carrying amount of the asset (cash
         dikurangi menjadi sebesar nilai yang dapat diperoleh                    generating unit) is reduced to its recoverable amount
         kembali dan rugi penurunan nilai diakui langsung ke                     and an impairment loss is recognized immediately in
         laporan laba rugi dan penghasilan komprehensif lain                     the consolidated statements of profit or loss and other
         konsolidasian.                                                          comprehensive income.

         Untuk aset takberwujud yang memiliki umur tidak                         For intangible assets that have an indefinite life, and
         terbatas, dan aset takberwujud belum tersedia untuk                     intangible assets not yet available for use, the
         digunakan, jumlah yang dapat diperoleh kembali                          recoverable amount is estimated annually and at the
         diperkirakan setiap tahun dan pada akhir periode                        end of each reporting period if there is an indication
         pelaporan jika terdapat indikasi penurunan nilai.                       of impairment.

     n. Sewa                                                               m.n. Leases

         Entitas dan Entitas Anak sebagai Penyewa                                Entity and Subsidiary as a Lessee

         Pada insepsi kontrak, Entitas dan Entitas Anak                          At the inception of a contract, the Entity and
         menilai apakah kontrak adalah, atau mengandung,                         Subsidiary assesses whether the contract is, or
         sewa. Suatu kontrak adalah atau mengandung sewa                         contains, a lease. A contract is or contains a lease if
         jika kontrak tersebut memberikan hak untuk                              the contract conveys the right to control the use of an
         mengendalikan penggunaan aset yang identifikasian                       identified assets for a period of time in exchange for
         selama suatu jangka waktu waktu untuk                                   consideration.
         dipertukarkan dengan imbalan.

         Untuk menilai apakah kontrak memberikan hak                             The Entity and Subsidiary has the right to obtain
         untuk mengendalikan penggunaan aset yang                                substantially all the economic benefits from use of the
         identifikasian, Entitas dan Entitas Anak harus                          identified asset throughout the period of use; and
         menilai apakah:

         - Entitas dan Entitas Anak memiliki hak untuk                           - The Entity and Subsidiary has the right to obtain
           mendapatkan secara substansial seluruh manfaat                          substantially all the economic benefits from use of
           ekonomik dari penggunaan aset identifikasian                            the identified asset throughout the period of use;
           selama periode penggunaan; dan                                          and

         - Entitas dan Entitas Anak memiliki hak untuk                           - The Entity’s and Subsidiary has the right to direct
           mengarahkan penggunaan aset identifikasian.                             the use of the identified asset. The Entity’s and
           Entitas dan Entitas Anak memiliki hak ini ketika                        Subsidiary has this right when it has the decision-
           Entitas dan Entitas Anak memiliki hak                                   making rights that are the most relevant to
           pengambilan keputusan yang paling relevan                               changing how and for what purpose the asset is
           untuk mengubah cara dan tujuan penggunaan aset                          used are predetermined:
           telah ditentukan sebelumnya:
           1. Entitas dan Entitas Anak memiliki hak untuk                           1. The Entity’s and Subsidiary has the right to
               mengoperasikan aset identifikasian;                                     operate the identified asset;
           2. Entitas dan Entitas Anak telah mendesain aset                         2. The Entity’s and Subsidiary has designed the
               identifikasian dengan cara yang telah                                   identified asset in a way that predetermined
               ditentukan sebelumnya bagaimana dan untuk                               how and for what purpose it will be used.
               tujuan apa aset itu akan digunakan.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                        STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                    As of and For The Year Ended
31 Desember 2024                                                                                         December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI              3.     MATERIAL       ACCOUNTING                        POLICIES
     MATERIAL - Lanjutan                                                    INFORMATION - Continued
                                                                          n.
     n. Sewa - Lanjutan                                                   o. n. Leases - Continued

         Pada insepsi atau penilaian kembali kontrak yang                       At the inception or on reassessment of a contract that
         berisi komponen sewa, Entitas dan Entitas Anak                         contains a lease component, the Entity’s and
         mengalokasikan imbalan dalam kontrak untuk setiap                      Subsidiary allocates the consideration in the contract
         komponen sewa atas dasar harga relatif tersendiri                      to each lease component on the basis of their relative
         dan harga tersendiri agregat dari komponen                             stand-alone prices and the aggregate stand-alone
         nonsewa. Akan tetapi, untuk sewa perbaikan di                          price of the non-lease components. However, for the
         mana Entitas dan Entitas Anak adalah penyewa,                          leases of improvements in which the Entity’s and
         Entitas dan Entitas Anak telah memilih untuk tidak                     Subsidiary is a lessee, the Entity and Subsidiary has
         memisahkan komponen nonsewa dan mencatat                               elected not to separate non-lease components and
         komponen sewa dan nonsewa sebagai komponen                             account for the lease and non-lease components as a
         sewa tunggal.                                                          single lease component.

         Pada saat permulaan sewa, penyewa mengakui aset                        Upon lease commencement a lessee recognizes a
         hak-guna dan liabilitas sewa. Aset hak-guna                            right-of-use asset and a lease liability. The right-of-
         awalnya diukur pada harga perolehan, yang terdiri                      use asset is initially measured at cost, which
         dari jumlah awal liabilitas sewa yang disesuaikan                      comprises the initial amount of the lease liability
         dengan pembayaran sewa yang dilakukan pada atau                        adjusted for any lease payment made at or before the
         sebelum tanggal permulaan, ditambah biaya                              commencement date, plus any initial direct cost
         langsung awal yang timbul dan estimasi biaya untuk                     incurred and an estimate of costs to dismantle and
         membongkar dan memindahkan aset pendasar atau                          remove the underlying asset or to restore the
         merestorasi aset pendasar ke kondisi yang                              underlying asset to the condition required by the
         disyaratkan oleh syarat dan ketentuan sewa,                            terms and conditions of the lease, less any lease
         dikurangi insentif sewa yang diterima.                                 incentives received.

         Setelah tanggal permulaan, Entitas dan Entitas Anak                    After lease commencement, The Entity’s and
         mengukur aset hak-guna dengan menggunakan                              Subsidiary measures the right-of-use asset using a
         model biaya yang berkaitan aset tetap sesuai                           cost model that relates to Property, Plant and
         PSAK 216.                                                              Equipment under PSAK 216.

         Berdasarkan model biaya, aset hak-guna diukur pada                     Under the cost model, a right-of-use asset is
         biaya perolehan dikurangi akumulasi penyusutan                         measured at cost less accumulated depreciation and
         dan akumulasi penurunan nilai. Jika sewa                               accumulated impairment. If the lease transfers
         mengalihkan kepemilikan aset pendasar kepada                           ownership of the underlying assets to the Entity’s and
         Entitas dan Entitas Anak pada akhir masa sewa atau                     Subsidiary at the end of the lease period or if the
         jika biaya perolehan aset hak-guna mencerminkan                        acquisition cost of the right-of-use asset reflects that
         bahwa penyewa akan mengeksekusi opsi beli,                             the lessee will make a purchase option, the Entity’s
         Entitas dan Entitas Anak mendepresiasi hak-guna                        and Subsidiary depreciates the right-of-use asset
         sejak tanggal permulaan hingga akhir umur manfaat                      from the commencement date until the end of the
         aset pendasar. Jika tidak, Entitas dan Entitas Anak                    useful life of the asset underlying assets. If not, the
         mendepresiasi aset hak-guna dari tanggal permulaan                     Entity’s and Subsidiary depreciates the right-of-use
         hingga tanggal yang lebih awal antara akhir umur                       assets from the commencement date to the earlier of
         manfaat aset hak-guna atau akhir masa sewa.                            the end of the useful life of the right-of-use asset or
                                                                                the end of the lease term.

         Liabilitas sewa pada awalnya diukur pada nilai kini                    The lease liability is initially measured at the present
         dari pembayaran sewa yang terutang selama masa                         value of the lease payments payable over the lease
         sewa, didiskontokan pada suku bunga implisit dalam                     term, discounted at the rate implicit in the lease if that
         sewa jika hal itu dapat segera ditentukan. Jika suku                   can be readily determined. If that rate cannot be
         bunga implisit tersebut tidak dapat segera                             readily determined, the Entity’s and Subsidiary uses
         ditentukan, Entitas dan Entitas Anak menggunakan                       its incremental borrowing rate.
         suku bunga pinjaman inkremental.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                   PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                              ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                            STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                        As of and For The Year Ended
31 Desember 2024                                                                                             December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                       (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                     AKUNTANSI               3.     MATERIAL          ACCOUNTING                  POLICIES
     MATERIAL - Lanjutan                                                        INFORMATION - Continued
                                                                              p.
     n.    Sewa - Lanjutan                                                    q.n. Leases - Continued

          Pembayaran sewa yang termasuk                   dalam                     Lease payments included in the measurement of the
          pengukuran liabilitas sewa terdiri dari:                                  lease liability comprise the following:

          -   pembayaran tetap, termasuk pembayaran tetap                           -   fixed payments, including in-substance fixed
              secara-substansi dikurangi piutang insentif                               payments less any lease incentive receivable;
              sewa;
          -   pembayaran sewa variabel yang bergantung                              -   variable lease payments that depend on an index
              pada indeks atau suku bunga, awalnya diukur                               or a rate, initially measured using the index or
              menggunakan indeks atau suku bunga pada                                   rate as at the commencement date;
              tanggal permulaan;
          -   jumlah yang diperkirakan akan dibayarkan oleh                         -   amounts expected to be payable by the Entity’s
              Entitas dan Entitas Anak dalam jaminan nilai                              and Subsidiary under a residual value guarantee;
              residual;
          -   harga eksekusi opsi beli yang cukup pasti                             -   the exercise price under a purchase option that
              Entitas dan Entitas Anak akan mengeksekusi;                               the Entity’s and Subsidiary is reasonably certain
              dan                                                                       to exercise; and
          -   pembayaran penalti untuk penghentian sewa                             -   penalties payment for early termination of a lease
              lebih awal kecuali Entitas dan Entitas Anak                               unless the Entity’s and Subsidiary is reasonably
              cukup pasti untuk tidak menghentikan kontrak                              certain not to terminate early.
              lebih awal.

          Pembayaran sewa variabel yang tidak termasuk                              Variable lease payments that are not included in the
          dalam pengukuran liabilitas sewa diakui dalam                             measurement of the lease liability are recognized in
          laporan laba rugi pada periode terjadinya peristiwa                       profit or loss in the period in which the event or
          atau kondisi yang memicu terjadinya pembayaran,                           condition that triggers payment occurs, unless the
          kecuali biaya tersebut dimasukkan dalam nilai                             costs are included in the carrying amount of another
          tercatat aset lain menurut Pernyataan lain.                               asset under another Standard.

          -   masa sewa (menggunakan tingkat diskonto                               -   the lease term (using a revised discount rate);
              yang direvisi);
          -   penilaian opsi beli (menggunakan tingkat                              -   the assessment of a purchase option (using a
              diskonto yang direvisi);                                                  revised discount rate);
          -   pembayaran sewa masa depan sebagai akibat                             -   future lease payments resulting from a change in
              dari perubahan indeks atau suku bunga yang                                an index or a rate used to determine those
              digunakan untuk menentukan pembayaran                                     payments (using an unchanged discount rate).
              tersebut (menggunakan tingkat diskonto yang
              tidak berubah).

          Sewa jangka pendek dan aset pendasar bernilai                             Short-term leases and low value underlying assets
          rendah

          Entitas dan Entitas Anak telah memilih untuk tidak                        The Entity’s and Subsidiary has elected not to
          mengakui aset hak-guna dan liabilitas sewa untuk                          recognize right-of-use assets and lease liabilities for
          sewa jangka pendek yang memiliki jangka waktu                             short-term leases that have a lease term of 12 months
          sewa 12 bulan atau kurang. Entitas dan Entitas Anak                       or less. The Entity’s and Subsidiary recognizes the
          mengakui pembayaran sewa terkait dengan sewa                              leases payments associated with these leases as an
          tersebut sebagai beban dengan metode garis lurus                          expense on a straight-line basis over the lease term.
          selama masa sewa.

          Entitas dan Entitas Anak belum menentukan ambang                          The Entity’s and Subsidiary has not determined the
          batas aset bernilai rendah, oleh karena itu Entitas dan                   threshold of low value assets, accordingly the
          Entitas Anak tidak menggunakan pengecualian ini                           Entity’s and Subsidiary does ot use this exemption
          dan menerapkan PSAK 116 sebagaimana mestinya.                             and applies PSAK 116 as appropriate.




                                                                    46
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI               3.     MATERIAL          ACCOUNTING                   POLICIES
     MATERIAL - Lanjutan                                                     INFORMATION - Continued
                                                                           r.
     n.   Sewa - Lanjutan                                                  s.n. Leases - Continued

          Modifikasi sewa                                                        Lease modification

          Modifikasi sewa juga dapat meminta pengukuran                          Lease modifications may also prompt remeasurement
          kembali liabilitas sewa kecuali jika diperlakukan                      of the lease liability unless they are to be treated as
          sebagai sewa terpisah.                                                 separate leases.

          Penyewa mencatat modifikasi sewa sebagai sewa                          The lessee accounts for a lease modification as a
          terpisah jika keduanya:                                                separate lease if both:
          - modifikasi meningkatkan ruang lingkup sewa                           - the modification increases the scope of the lease
              dengan menambahkan hak untuk menggunakan                              by adding the right to use one or more underlying
              satu atau lebih aset pendasar; dan                                    assets; and
          - imbalan sewa meningkat sebesar jumlah yang                           - the consideration for the lease increases by an
              setara dengan harga tersendiri untuk                                  amount commensurate with the stand-alone price
              peningkatan ruang lingkup dan penyesuaian                             for the increase in scope and any appropriate
              yang tepat terhadap harga tersendiri tersebut                         adjustments to that stand-alone price to reflect the
              untuk mencerminkan kondisi kontrak tertentu.                          circumstances of the particular contract.

          Untuk modifikasi sewa yang tidak dicatat sebagai                       For a lease modification that is not accounted for as
          sewa terpisah, pada tanggal efektif modifikasi sewa,                   a separate lease, at the effective date of the lease
          penyewa:                                                               modification, the lessee:
          - mengukur kembali dan mengalokasikan                                  - remeasure and allocate the consideration in the
             imbalan dalam kontrak modifikasian;                                    modified contract;
          - menentukan masa sewa dari sewa modifikasian;                         - determine the lease term of the modified lease;
          - mengukur kembali liabilitas sewa dengan                              - remeasure the lease liability by discounting the
             mendiskontokan pembayaran sewa yang                                    revised lease payments using a revised discount
             direvisi menggunakan tingkat diskonto revisian                         rate on the basis of the remaining lease term and
             atas dasar sisa masa sewa dan sisa pembayaran                          the remaining lease payment with a
             sewa dengan penyesuaian yang sesuai dengan                             corresponding adjustment to the right-of-use
             aset hak-guna. Tingkat diskonto revisian                               assets. The revised discount rate is determined as
             ditentukan sebagai suku bunga pinjaman                                 the lessee’s incremental borrowing rate at the
             inkremental penyewa pada tanggal efektif                               effective date of the modification;
             modifikasi;
          - menurunkan nilai tercatat aset hak-guna untuk                        - decrease the carrying amount of the right-of-use
             mencerminkan penghentian parsial atau penuh                           asset to reflect the partial or full termination of
             dari sewa untuk modifikasi sewa yang                                  the lease for lease modifications that decrease the
             menurunkan ruang lingkup sewa. Penyewa                                scope of the lease. The lessee recognizes in profit
             mengakui dalam laba rugi setiap keuntungan                            or loss any gain or loss relating to the partial or
             atau kerugian yang terkait dengan penghentian                         full termination of the lease; and
             parsial atau penuh sewa tersebut; dan
          - membuat penyesuaian terkait dengan aset hak-                         - make a corresponding adjustment to the right-of-
             guna untuk semua modifikasi sewa lainnya.                             use asset for all other lease modifications.

          Entitas dan Entitas Anak sebagai Pesewa                                Entity and Subsidiary as a Lessor

          Ketika Entitas dan Entitas Anak bertindak sebagai                      When the Entity’s and Subsidiary acts as a lessor, it
          pesewa, maka setiap sewa diklasifikasikan sebagai                      shall classify each lease as either an operating lease
          sewa operasi atau sewa pembiayaan.                                     or a finance lease.

          Sewa diklasifikasikan sebagai sewa pembiayaan jika                     A lease is classified as a finance lease if it transfers
          sewa mengalihkan secara substansial semua risiko                       substantially all the risks and rewards incidental to
          dan manfaat yang terkait dengan kepemilikan aset                       ownership of an underlying asset. Otherwise a lease
          pendasar. Jika tidak, sewa diklasifikasikan sebagai                    is classified as an operating lease.
          sewa operasi.




                                                                 47
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                  PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                             ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                           STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                       As of and For The Year Ended
31 Desember 2024                                                                                            December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                    AKUNTANSI               3.    MATERIAL       ACCOUNTING                        POLICIES
     MATERIAL - Lanjutan                                                      INFORMATION - Continued
                                                                             t.
     n.    Sewa - Lanjutan                                                   u.n.   Leases - Continued

          Sebagai bagian dari penilaian ini, Entitas dan                            As part of this assessment, the Entity’s and
          Entitas Anak mempertimbangkan indikator-                                  Subsidiary considers certain indicators such as:
          indikator tertentu seperti:
          a. sewa mengalihkan kepemilikan aset pendasar                             a. the lease transfers ownership of the underlying
             kepada penyewa pada akhir masa sewa;                                      asset to the lessee by the end of the lease term;
          b. penyewa memiliki opsi untuk membeli aset                               b. the lessee has the option to purchase the
             pendasar dengan harga yang diperkirakan cukup                             underlying asset at a price which is expected to
             lebih rendah dari nilai wajar pada tanggal opsi                           be sufficiently lower than fair value at the date
             tersebut dapat dieksekusi sehingga menjadi                                the option becomes exercisable that, at the
             cukup pasti, pada tanggal insepsi, bahwa opsi                             inception of the lease, it is reasonably certain that
             tersebut akan dieksekusi;                                                 the option will be exercised;
          c. masa sewa adalah untuk sebagian besar umur                             c. the lease term is for the major part of the
             ekonomik aset pendasar, meskipun hak milik                                economic life of the underlying asset, even if title
             tidak dialihkan;                                                          is not transferred;
          d. pada tanggal insepsi, nilai kini dari pembayaran                       d. at the inception of the lease, the present value of
             sewa setidaknya mencakup secara substansial                               the minimum lease payments amounts to at least
             seluruh nilai wajar aset pendasar;                                        substantially all of the fair value of the underlying
                                                                                       asset;
          e. aset pendasar bersifat khusus sehingga hanya                           e. the underlying assets are of a specialized nature
             penyewa yang dapat menggunakannya tanpa                                   such that only the lessee can use them without
             modifikasi signifikan.                                                    major modifications being made.

          Pada permulaan sewa, Entitas dan Entitas Anak                             Upon lease commencement, the Entity’s and
          mengakui aset yang dimiliki dalam sewa                                    Subsidiary recognizes assets held under a finance
          pembiayaan sebagai piutang pada jumlah yang sama                          lease as a receivable at an amount equal to the net
          dengan investasi neto sewa.                                               investment in the lease.

          Investasi neto sewa adalah investasi sewa bruto yang                      The net investment in the lease is the gross investment
          didiskontokan pada tingkat bunga implisit dalam                           in the lease discounted at the interest rate implicit in
          sewa. Investasi bruto dalam sewa adalah jumlah                            the lease. The gross investment in the lease is the sum
          dari:                                                                     of:
          1. piutang pembayaran sewa oleh Entitas dan                               1. lease payments receivable by the Entity’s and
               Entitas Anak dalam sewa pembiayaan, dan                                    Subsidiary under a finance lease, and
          2. nilai residual yang tidak dijamin yang diperoleh                       2. any unguaranteed residual value accruing to the
               Entitas dan Entitas Anak. Nilai residual yang                              Entity’s and Subsidiary. The unguaranteed
               tidak dijamin adalah bagian dari nilai residual                            residual value is the portion of the residual
               aset pendasar, yang realisasinya oleh Entitas dan                          value of the underlying asset, the realization of
               Entitas Anak tidak diyakini atau dijamin hanya                             which by the Entity’s and Subsidiary is not
               oleh satu pihak yang terkait dengan Entitas dan                            assured or is guaranteed solely by a party
               Entitas Anak.                                                              related to the Entity’s and Subsidiary.

          Entitas dan Entitas Anak mengakui pendapatan                              The Entity’s and Subsidiary recognizes finance
          keuangan selama masa sewa dari sewa pembiayaan,                           income over the lease term of a finance lease, based
          berdasarkan pola yang mencerminkan tingkat                                on a pattern reflecting a constant periodic rate of
          pengembalian investasi neto periodik yang konstan.                        return on the net investment. This is achieved by
          Hal ini dicapai dengan mengalokasikan sewa yang                           allocating the lease received (net of any charges for
          diterima (setelah dikurangi biaya jasa, dll.) oleh                        services etc.) by the Entity’s and Subsidiary between
          Entitas dan Entitas Anak antara pendapatan                                finance (interest) income to the Entity’s and
          keuangan (bunga) kepada Entitas dan Entitas Anak                          Subsidiary and repayment of the debtor balance
          dan pembayaran kembali saldo debitur (pokok),                             (principal), that is amortized cost method.
          yaitu metode biaya perolehan diamortisasi.

          Entitas dan Entitas Anak mengakui pembayaran                              The Entity’s and Subsidiary recognizes operating
          sewa operasi sebagai pendapatan dengan dasar garis                        lease payments as income on a straight-line basis or,
          lurus atau, jika lebih merepresentasikan pola                             if more representative of the pattern in which benefit
          manfaat dari penggunaan aset pendasar yang                                from use of the underlying asset is diminished,
          menurun, maka dengan dasar sistematis lain.                               another systematic basis.


                                                                   48
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI               3.    MATERIAL            ACCOUNTING                 POLICIES
     MATERIAL - Lanjutan                                                    INFORMATION - Continued
                                                                           v.
     n. Sewa - Lanjutan                                                    w.n. Leases - Continued

         Transaksi Jual dan Sewa-Balik                                           Sale and Leaseback Transactions

         Untuk menentukan apakah pengalihan aset dicatat                         To determine whether the transfer of an asset is
         sebagai penjualan, Entitas dan Entitas Anak                             accounted for as a sale the Entity’s and Subsidiary
         menerapkan ketentuan PSAK 115 “Pendapatan dari                          applies the requirements of PSAK 115 “Revenue
         Kontrak dengan Pelanggan” untuk menentukan                              from Contracts with Customers” for determining
         kapan kewajiban pelaksanaan terpenuhi.                                  when a performance obligation is satisfied.

         Jika pengalihan aset memenuhi persyaratan PSAK                          If an asset transfer satisfies the requirements of PSAK
         115 untuk dicatat sebagai penjualan, penjual                            115 to be accounted for as a sale the seller measures
         mengukur aset hak-guna sesuai proporsi jumlah                           the right-of-use asset at the proportion of the
         tercatat sebelumnya yang terkait dengan hak-guna                        previous carrying amount that relates to the right of
         yang masih dipertahankan. Oleh karena itu, penjual                      use retained. Accordingly, the seller only recognizes
         hanya mengakui keuntungan atau kerugian yang                            the amount of gain or loss that relates to the rights
         terkait dengan hak yang dialihkan kepada pembeli.                       transferred to the buyer.

         Jika nilai wajar imbalan penjualan tidak sama                           If the fair value of the sale consideration does not
         dengan nilai wajar aset, atau jika pembayaran sewa                      equal the asset’s fair value, or if the lease payments
         tidak pada harga pasar, hasil penjualan disesuaikan                     are not market rates, the sales proceeds are adjusted
         ke nilai wajar, baik dengan memperhitungkan                             to fair value, either by accounting for prepayments of
         pembayaran di muka atas pembayaran sewa jika                            lease payments if any below-market term or
         berada di bawah harga pasar atau pembiayaan                             additional financing provided by the buyer to the
         tambahan yang diberikan oleh pembeli kepada                             Entity’s and Subsidiary if any above-market term.
         Entitas dan Entitas Anak jika berada di atas harga
         pasar.

         Entitas dan Entitas Anak tidak menilai kembali                          The Entity and Subsidiaries did not reassess the
         transaksi jual dan sewa-balik yang disepakati                           agreed sale and leaseback transactions prior to the
         sebelum tanggal penerapan awal.                                         initial application date.

         Subsewa                                                                 Subleases

         Berdasarkan PSAK 116, Entitas dan Entitas Anak                          Under PSAK 116, the Entity’s and Subsidiary as an
         sebagai pesewa-antara memperhitungkan sewa                              intermediate lessor accounts for the head lease and
         utama dan subsewa sebagai dua kontrak terpisah.                         the sublease as two separate contracts. The Entity’s
         Entitas dan Entitas Anak disyaratkan untuk                              and Subsidiary is required to classify the sublease as
         mengklasifikasikan       subsewa    sebagai    sewa                     a finance or operating lease by reference to the
         pembiayaan atau operasi dengan mengacu pada aset                        right‑of‑use asset arising from the head lease. If the
         hak-guna yang timbul dari sewa utama. Jika sewa                         head lease is a short-term lease has accounted
         utama adalah sewa jangka pendek yang                                    applying not to recognize right-of-use asset and lease
         diperhitungkan dengan menerapkan tidak mengakui                         liability, the sublease should be classified as an
         aset hak-guna dan liabilitas sewa, maka subsewa                         operating lease.
         tersebut harus diklasifikasikan sebagai sewa operasi.

         Ketika Entitas dan Entitas Anak melakukan subsewa                       When the Entity’s and Subsidiary enters into the
         pembiayaan, Entitas dan Entitas Anak:                                   finance sublease, the Entity’s and Subsidiary:
         - menghentikan pengakuan aset hak-guna terkait                          - derecognizes the right-of-use asset relating to the
           dengan sewa utama yang dialihkan ke                                      head lease that it transfers to the sublesee and
           subpenyewa dan mengakui investasi neto sewa;                             recognizes the net investment in the sublease;
         - mengakui perbedaan antara aset hak-guna dan                           - recognizes any difference between the right-of-use
           investasi neto dalam laba atau rugi; dan                                 asset and the net investment in the sublease in
                                                                                    profit or loss; and




                                                                 49
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                  AKUNTANSI               3.     MATERIAL          ACCOUNTING                     POLICIES
     MATERIAL - Lanjutan                                                     INFORMATION - Continued
                                                                           x.
     n. Sewa - Lanjutan                                                    y.n. Leases - Continued

         Subsewa – Lanjutan                                                       Subleases – Continued

         - mempertahankan liabilitas sewa terkait dengan                          - retains the lease liability relating to the head lease
           sewa utama dalam laporan posisi keuangannya,                             in its statement of financial position, which
           yang merupakan pembayaran sewa yang terutang                             represents the lease payments owed to the head
           kepada pesewa utama.                                                     lessor.

         Selama masa sewa, Entitas dan Entitas Anak                               During the term of the sublease, the Entity’s and
         mengakui pendapatan keuangan dari subsewa dan                            Subsidiary recognizes both finance income on the
         beban bunga dari sewa utama.                                             sublease and interest expense on the head lease.

         Ketika Entitas dan Entitas Anak melakukan subsewa                        When the Entity’s and Subsidiary enters into the
         operasi, Entitas dan Entitas Anak tetap memiliki                         operating sublease, the Entity’s and Subsidiary
         liabilitas sewa dan aset hak-guna yang terkait dengan                    retains the lease liability and the right-of-use asset
         sewa utama di laporan posisi keuangannya. Selama                         relating to the head lease in its statement of financial
         masa sewa, Entitas dan Entitas Anak mengakui                             position. During the term of the sublease, the Entity’s
         biaya penyusutan atas aset hak-guna dan bunga atas                       and Subsidiary recognizes a depreciation charge for
         liabilitas sewa dan mengakui pendapatan sewa dari                        the right-of-use asset and interest on the lease
         subsewa.                                                                 liability and recognizes lease income from the
                                                                                  sublease.

         Pada penerapan awal atas transaksi jual dan sewa                         On initial implementation the sale and lease-back
         balik dicatat sebagai sewa pembiayaan dan                                transaction is recorded as a finance lease and
         dilanjutkan mengamortisasi keuntungan jual dan                           continue to amortize gain on sale and lease-back over
         sewa balik selama masa sewa.                                             the lease term.

     o. Imbalan Kerja                                                      o. o. Employee Benefits

         Entitas dan Entitas Anak mengakui program imbalan                        The Entity and Subsidiary established defined benefit
         pasti untuk semua karyawan tetap. Entitas dan                            pension plan covering all the local permanent
         Entitas Anak juga membukukan imbalan pasca kerja                         employees. In addition, the Entity and Subsidiary
         pasti untuk karyawan sesuai dengan Undang-                               also provide post-employment benefit as required
         Undang Ketenagakerjaan No. 13/ 2013 dan untuk                            under Labor Law No. 13/ 2013 (the “Labor Law”)
         non-manajemen sesuai dengan Undang-Undang No.                            and for non-management in accordance with Law no.
         11 Tahun 2020 tentang Cipta Kerja. Entitas dan                           11 of 2020 concerning Job Creation. For normal
         Entitas Anak menghitung selisih antara imbalan                           pension scheme, the Entity and Subsidiary calculate
         yang diterima karyawan berdasarkan undang-                               and recognizes the higher of the benefits under the
         undang yang berlaku dengan manfaat yang diterima                         Labor Law and those under such pension plan.
         dari program pensiun untuk pensiun normal.
                                                                           o.
     p. Biaya Emisi Saham                                                   p. p. Stock Issuance Cost
                                                                           q.
         Biaya-biaya emisi efek yang terjadi sehubungan                          r. Costs incurred related to the public offering of shares
         dengan penawaran saham kepada masyarakat                                   (including pre-emptive rights issues) are deducted
         (termasuk penerbitan hak memesan efek terlebih                             from the proceeds and presented as a deduction from
         dahulu) dikurangkan langsung dari hasil emisi dan                          the “Additional Paid-in-Capital” account, under
         disajikan sebagai pengurang pada akun “Tambahan                            Equity section in the consolidated statements of
         Modal Disetor”, sebagai bagian dari ekuitas pada                           financial position.
         laporan posisi keuangan konsolidasian.




                                                                 50
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                  PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                             ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                           STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                       As of and For The Year Ended
31 Desember 2024                                                                                            December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                    AKUNTANSI               3.         MATERIAL       ACCOUNTING                    POLICIES
     MATERIAL - Lanjutan                                                           INFORMATION - Continued
                                                                             q.
     q.   Pengakuan Pendapatan dan Beban                                     r. q. Revenue and Expense Recognition
                                                                             s.
          Pendapatan diakui menggunakan penilaian 5                          t.    Revenue is recognized using the 5-step assessment:
          langkah:
                                                                             u.
          1.   Identifikasi Kontrak dengan Pelanggan                         v.      1.   Identification of the Contract with the
                                                                                          Customer
               Kontrak adalah kesepakatan antara dua pihak                   w.           Contract is an agreement between two or more
               atau lebih yang menciptakan hak dan kewajiban                              parties that creates enforceable rights and
               yang dapat dipaksakan.                                                     obligations.
                                                                             x.
          2.   Identifikasi Kewajiban Pelaksanaan dalam                      y.      2.   Identification of the Performance Obligation
               Kontrak                                                                    in the Contract
               Kewajiban pelaksanaan adalah janji kepada                     z.           A performance obligation is a promise to a
               pelanggan untuk mengalihkan barang atau jasa                               customer to transfer good or service (or a
               (atau sekumpulan barang atau jasa) yang berifat                            bundle of goods or services) that is distinct; or
               dapat dibedakan; atau serangkaian barang atau                              a series of distinct goods or services that are
               jasa bersifat dapat dibedakan yang secara                                  substantially the same and that have the same
               substansial sama dan memiliki pola pengalihan                              pattern of transfer to the customer. Distinct
               yang sama kepada pelanggan. Bersifat dapat                                 means separable, or separately identifiable.
               dibedakan artinya dapat dipisahkan, atau dapat
               diidentifikasi secara terpisah.
                                                                             aa.
          3.   Penetapan Harga Transaksi                                     bb.     3.   Determination of the Transaction Price
               Harga transaksi adalah jumlah imbalan yang                    cc.          The transaction price is the amount of
               diperkirakan menjadi hak Entitas dan Entitas                               consideration that the Entity and Subsidiary
               Anak dalam pertukaran untuk mengalihkan                                    expects to be entitled to in exchange for the
               barang atau jasa kepada pelanggan, tidak                                   goods or services to a customer, excluding
               termasuk jumlah yang ditagih atas nama pihak                               amounts collected on behalf of third parties (for
               ketiga (misalnya, pajak pertambahan nilai). Jika                           example, value added tax). If the consideration
               imbalan yang dijanjikan dalam kontrak                                      promised in a contract includes a variable
               mencakup jumlah variabel, Entitas dan Entitas                              amount, the Entity and Subsidiary estimates the
               Anak mengestimasi jumlah imbalan yang                                      amount of consideration to which it expects to
               diharapkan menjadi haknya dalam pertukaran                                 be entitled in exchange for transferring the
               untuk mengalihkan barang atau jasa yang                                    promised goods or services to a customer less
               dijanjikan kepada pelanggan dikurangi estimasi                             the estimated variable amount which will be
               jumlah variabel yang akan dibayar selama                                   paid during the contract period.
               kontrak.
                                                                             dd.
          4.   Alokasi Harga Transaksi untuk Kewajiban                       ee.     4.   Allocation Transaction Price to Performance
               Pelaksanaan                                                                Obligations
               Alokasikan harga transaksi untuk setiap                       ff.          Allocate the transaction price to each
               kewajiban pelaksanaan berdasarkan harga jual                               performance obligation on the basis of the
               berdiri sendiri relatif dari setiap barang atau                            relative stand-alone selling prices of each
               jasa berbeda yang dijanjikan dalam kontrak.                                distinct goods or services promised in the
               Jika hal ini tidak dapat diamati secara langsung,                          contract. Where these are not directly
               harga jual berdiri sendiri relative perlu                                  observable, the relative stand-alone selling
               diestimasi.                                                                price is required to be estimated.
                                                                             gg.
          5.   Pengakuan Pendapatan ketika Kewajiban                         hh.     5.   Recognition of Revenue when Performance
               Pelaksanaan Dipenuhi                                                       Obligation is Satisfied
               Pendapatan dari penjualan diakui sebagai                      ii.          Revenue from sales is recognized as a
               representasi penyerahan barang atau jasa                                   representation of the delivery of goods or the
               dengan jumlah yang secara tepat mewakili                                   rendering of services at the amount that
               kewajiban yang dilakukan dan hak untuk                                     correctly represents the performed obligation
               menerima imbalan sebagai imbalan atas barang                               and the right to receive consideration in
               dan/atau jasa tersebut. Pengakuan pendapatan                               exchange for the goods and/or services.
               tergantung     pada      apakah      pengalihan                            Revenue recognition depends on whether the
               diselesaikan sepanjang waktu atau pada waktu                               transfer is being settled over time or at a certain
               tertentu. Pengalihan kendali diperhitungkan.                               point in time. In any case, the transfer of control
                                                                                          is taken into account.

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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI      KEBIJAKAN                  AKUNTANSI               3.     MATERIAL      ACCOUNTING                        POLICIES
     MATERIAL - Lanjutan                                                      INFORMATION - Continued

     q.   Pengakuan Pendapatan dan Beban – Lanjutan                         jj. q. Revenue and Expense Recognition - Continued
                                                                            kk.
               Untuk setiap kewajiban pelaksanaan yang                      ll.         For each performance obligation that is satisfied
               dipenuhi sepanjang waktu, pendapatan diakui                              over time, revenue is recognized by measuring
               dengan mengukur kemajuan penyelesaian                                    progress      towards     completion of that
               kewajiban pelaksanaan tersebut berdasarkan                               performance obligation based on appropriate
               pengukuran kemajuan yang tepat baik “Metode                              measurement of progress either “Output
               Keluaran” atau “Metode Masukan”.                                         Method” or “Input Method”.
                                                                            mm.
          Biaya Mendapatkan Kontrak                                         nn. Costs of Obtaining a Contract
                                                                            oo.
          Biaya inkremental untuk mendapatkan kontrak                       pp. The incremental costs of obtaining a contract with a
          dengan pelanggan diakui sebagai aset jika Entitas                        customer are recognized as an asset if the Entity and
          dan Entitas Anak mengharapkan untuk memulihkan                           Subsidiary expects to recover those costs. Those
          biaya tersebut. Biaya inkremental tersebut adalah                        incremental costs are costs incurred to obtain a
          biaya yang timbul untuk mendapatkan kontrak                              contract with a customer that would not have been
          dengan pelanggan yang tidak akan terjadi jika                            incurred if the contract had not been successfully
          kontrak tersebut tidak berhasil diperoleh.                               obtained.
                                                                            qq.
          Biaya Pemenuhan Kontrak                                           rr. Costs of Fulfilling a Contract
                                                                            ss.
          Suatu aset diakui untuk biaya yang timbul untuk                   tt.    An asset is recognized for the costs incurred to fulfil
          memenuhi kontrak hanya jika biaya tersebut                               a contract only if those costs meet all of the following
          memenuhi semua kriteria berikut:                                         criteria:
            a) biaya terkait langsung dengan kontrak atau                   uu.        a) the costs relate directly to a contract or to an
                 kontrak yang diantisipasi yang secara                                       anticipated contract that the Entity and
                 spesifik dapat diidentifikasi oleh Entitas dan                              Subsidiary can specifically identify;
                 Entitas Anak;
            b) biaya menghasilkan atau meningkatkan                         vv.      b)    the costs generate or enhance resources of
                 sumber daya Entitas dan Entitas Anak yang                                 the Entity and Subsidiary that will be used in
                 akan digunakan untuk memenuhi (atau terus                                 satisfying (or in continuing to satisfy)
                 memenuhi) kewajiban pelaksanaan di masa                                   performance obligations in the future; and
                 depan; dan
            c) biaya diharapkan dapat dipulihkan.                           ww.     c) the costs are expected to be recovered.
                                                                            xx.
          Aset yang dihasilkan akan diamortisasi secara                     yy. Any resulting asset would be amortized on a
          sistematis selama periode kontrak. Ketika biaya                        systematic basis over period of the contract. When
          yang timbul dalam memenuhi kontrak dengan                              costs incurred in fulfilling a contract with a customer
          pelanggan berada dalam lingkup Pernyataan lain,                        are within the scope of other Standards, they are
          biaya tersebut diperhitungkan sesuai dengan                            accounted for in accordance with those other
          Pernyataan lainnya.                                                    Standards.
                                                                            zz.
          Pendapatan diukur berdasarkan imbalan yang                        aaa. Revenue is measured based on the consideration
          ditentukan dalam kontrak dengan pelanggan dan                          specified in a contract with a customer and excludes
          tidak termasuk jumlah yang ditagih atas nama pihak                     amounts collected on behalf of third parties such as
          ketiga seperti PPN (Pajak Pertambahan Nilai).                          VAT (Value Added Tax). The Entity and Subsidiary
          Entitas dan Entitas Anak mengakui pendapatan saat                      recognizes revenue when it transfers control of a
          mengalihkan kendali atas produk atau jasa kepada                       product or service to a customer.
          pelanggan.
                                                                            bbb.
          Beban diakui pada saat terjadinya (basis akrual).                 ccc. Expenses are recognized when incurred (accrual
                                                                                 basis).




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                            ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                          STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                      As of and For The Year Ended
31 Desember 2024                                                                                           December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI      KEBIJAKAN                  AKUNTANSI               3.     MATERIAL       ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                      INFORMATION - Continued

     r. Transaksi dan Saldo dalam Mata Uang Asing                           ddd.
                                                                              r. Foreign Currency Transactions and Balances

         Transaksi-transaksi dalam mata uang asing                                Transactions involving foreign currencies are
         dijabarkan dalam mata uang Rupiah dengan                                 recorded in Rupiah amounts at the rates of exchange
         menggunakan kurs yang berlaku pada saat transaksi                        prevailing at the time the transactions are made.
         dilakukan.

         Pada tanggal laporan posisi keuangan konsolidasian,                      At consolidated statements of financial position date,
         aset dan liabilitas moneter dalam mata uang asing                        monetary assets and liabilities denominated in
         dijabarkan dalam mata uang Rupiah dengan                                 foreign currencies are adjusted to Rupiah to reflect
         mempergunakan kurs tengah wesel ekspor Bank                              the prevailing rates of exchange as published by Bank
         Indonesia yang berlaku pada tanggal tersebut.                            Indonesia. Any resulting gains or losses are charged
         Keuntungan atau kerugian yang timbul dibebankan                          to current current operations.
         pada operasi tahun berjalan.

         Pada tanggal 31 Desember 2024 dan 2023, kurs yang                        As of December 31, 2024 and 2023, the exchange
         dihitung berdasarkan rata-rata kurs beli dan jual                        rates used were computed by taking the average of
         yang dipublikasikan terakhir pada tahun tersebut                         the last published buying and selling rates for bank
         untuk uang kertas dan kurs transaksi Bank Indonesia                      notes and/or transaction exchange rates by Bank
         adalah sebagai berikut:                                                  Indonesia are as follows:

                                              31 Desember 2024/                31 Desember 2023/
                                              December 31, 2024                December 31, 2023

          1 Euro Eropa (EUR)                                16.851                          17.140             1 European Euro (EUR)
          1 Dolar Amerika Serikat (USD)                     16.162                          15.416        1 United States Dollar (USD)
          1 Dolar Singapura (SGD)                           11.919                          11.712           1 Singapore Dollar (SGD)
          1 Yen Jepang (JPY)                                   102                             110                1 Japanese Yen (JPY)

     s. Pajak Penghasilan                                                   r. s. Income Tax

         Entitas dan Entitas Anak menerapkan PSAK                                 The Entity and Subsidiary applied PSAK No. 212
         No. 212 (Revisi 2014), mengenai “Pajak                                   (Revised 2014) regarding, “Income Tax”, which
         Penghasilan”, yang mengharuskan Entitas dan                              requires the Entity and Subsidiary to account for the
         Entitas Anak untuk memperhitungkan konsekuensi                           current and future tax consequences of the future
         pajak kini dan pajak masa depan atas pemulihan di                        recovery (settlement) of the carrying amount of assets
         masa depan (penyelesaian) dari jumlah tercatat aset                      (liabilities) that are recognized in the consolidated
         (liabilitas) yang diakui dalam laporan posisi                            statement of financial position; and transactions and
         keuangan konsolidasian, dan transaksi-transaksi                          other events of the current year that are recognized
         serta peristiwa lain yang terjadi dalam tahun berjalan                   in the consolidated financial statements.
         yang diakui dalam laporan keuangan konsolidasian.

         Beban pajak kini ditetapkan berdasarkan taksiran                         Current tax expense is provided based on the
         penghasilan kena pajak tahun berjalan. Aset dan                          estimated taxable income for the current year.
         liabilitas pajak tangguhan diakui atas perbedaan                         Deferred tax assets and liabilities are recognized for
         temporer antara aset dan liabilitas untuk tujuan                         temporary differences between commercial and tax
         komersial dan untuk tujuan perpajakan setiap                             bases of assets and liabilities at each reporting date.
         tanggal pelaporan. Manfaat pajak di masa                                 Future tax benefit, such as the carry-forward of
         mendatang, seperti nilai terbawa atas saldo rugi                         unused tax losses, if any, is also recognized to the
         fiskal yang belum digunakan, jika ada, juga diakui                       extent that realization of such tax benefit is probable.
         sejauh realisasi atas manfaat pajak tersebut
         dimungkinkan.




                                                                  53
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                   PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                              ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                           NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                            STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                        As of and For The Year Ended
31 Desember 2024                                                                                             December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                       (Expressed in Millions of Rupiah, unless otherwise stated)

3.   INFORMASI     KEBIJAKAN                     AKUNTANSI               3.     MATERIAL       ACCOUNTING                      POLICIES
     MATERIAL - Lanjutan                                                        INFORMATION - Continued

     s.   Pajak Penghasilan- Lanjutan                                         s. s. Income Tax - Continued

          Aset dan liabilitas pajak tangguhan diukur pada tarif                     Deferred tax assets and liabilities are measured at
          pajak yang diharapkan akan digunakan pada tahun                           the tax rates that are expected to apply to the year
          ketika aset direalisasi atau ketika liabilitas dilunasi                   when the assets are realized or the liabilities are
          berdasarkan tarif pajak (dan peraturan perpajakan)                        settled, based on the applicable tax rates (and tax
          yang berlaku atau secara substansial telah                                laws) that have been enacted or substantively enacted
          diberlakukan pada tanggal laporan posisi keuangan                         at consolidated statements of financial position date.
          konsolidasian.

          Perubahan nilai tercatat aset dan liabilitas pajak                        Changes in the carrying amount of deferred tax
          tangguhan yang disebabkan oleh perubahan tarif                            assets and liabilities due to a change in tax rates is
          pajak dibebankan pada tahun berjalan, kecuali untuk                       charged to current year operations,except to the
          transaksi-transaksi yang sebelumnya telah langsung                        extent that it relates to items previously charged or
          dibebankan atau dikreditkan ke ekuitas.                                   credited to equity.

          Perubahan terhadap liabilitas perpajakan diakui pada                      Amendments to tax obligations are recorded when an
          saat penetapan pajak diterima atau jika Entitas dan                       assessment is received or, if appealed against by the
          Entitas Anak mengajukan keberatan, pada saat                              Entity and Subsidiary, when the result of the appeal
          keputusan atas keberatan telah ditetapkan.                                is determined.

     t.   Segmen Operasi                                                      eee.
                                                                                 t. Operation Segment
                                                                              fff.
          PSAK No. 108 (Penyesuaian 2015) tentang                                   PSAK No. 108 (Improvement 2015) regarding
          “Segmen Operasi” mengharuskan segmen operasi                              “Operating Segments” requires operating segments
          diidentifikasi berdasarkan laporan internal mengenai                      to be identified on the basis of internal reports about
          komponen dari Entitas dan Entitas Anak yang secara                        components of the Entity and Subsidiary that are
          regular direview oleh “pengambil keputusan                                regularly reviewed by the "chief operating decision
          operasional” dalam rangka mengalokasikan sumber                           maker" in order to allocate resources and assessing
          daya dan menilai kinerja segmen operasi. Kebalikan                        performance of the operating segments. Contrary to
          dengan standar sebelumnya yang mengharuskan                               the performance of the previous standard that
          Entitas dan Entitas Anak mengindentifikasi dua                            requires the Entity and Subsidiary identified two
          segmen (bisnis dan geografis), menggunakan                                segments (business and geographical), using a risks
          pendekatan risiko dan pengembalian.                                       and returns approach.

          PSAK revisi ini mengatur pengungkapan yang                                The revised PSAK disclosures that enable users of the
          memungkinkan pengguna laporan keuangan                                    consolidated financial statements to evaluate the
          konsolidasian untuk mengevaluasi sifat dan dampak                         nature and financial effects of the business activities
          keuangan dari aktivitas bisnis yang mana entitas                          in which the entities involved and the economic
          terlibat dan lingkungan ekonomi dimana entitas                            environment in which the entity operates.
          beroperasi.

          Segmen operasi adalah suatu komponen dari Entitas                         An operating segment is a component of the Entity or
          atau Entitas Anak:                                                        Subsidiary:

          -   Yang melibatkan dalam aktivitas bisnis yang                           -   Involving in business activities which earn
              mana      memperoleh        pendapatan        dan                         income and create a load (including revenues
              menimbulkan beban (termasuk pendapatan dan                                and expenses related to transactions with other
              beban terkait dengan transaksi dengan                                     components of the same entity);
              komponen lain entitas yang sama);
          -   Hasil operasinya dikaji ulang secara regular oleh                     -   The results of operations are reviewed regularly
              pengambil keputusan tentang sumber daya yang                              by decisions maker about the resources allocated
              dialokasikan pada segmen tersebut dan                                     to the segment and its performance; and
              kinerjanya; dan
          -   Tersedia informasi keuangan yang dapat                                -   Available financial information which can be
              dipisahkan.                                                               separated.




                                                                    54
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                            ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                          STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                      As of and For The Year Ended
31 Desember 2024                                                                                           December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                         (Expressed in Millions of Rupiah, unless otherwise stated)
3.   INFORMASI     KEBIJAKAN                   AKUNTANSI               3.       MATERIAL            ACCOUNTING              POLICIES
     MATERIAL - Lanjutan                                                        INFORMATION - Continued
                                                                             ggg.
     t.   Segmen Operasi – Lanjutan                                          hhh.
                                                                                t. Operation Segment - Continued
                                                                             iii.
          Pendapatan, beban, hasil, aset dan liabilitas segmen                     Revenues, expenses, results, assets and liabilities
          termasuk item-item yang dapat diatribusikan                              include items directly attributable to a segment as
          langsung kepada suatu segmen serta hal-hal yang                          well as those that can be allocated on a reasonable
          dapat dialokasikan dengan dasar yang sesuai kepada                       basis to that segment.
          segmen tersebut.

     u. Saham Treasuri                                                       u. u. Treasury Stock
                                                                            v.
          Instrumen ekuitas sendiri yang diperoleh kembali                  w.     The recoverable equity instruments (treasury stock)
          (saham treasuri) diakui pada harga perolehan                             are recognized at cost and subtracted from equity. No
          kembali dan dikurangi dari ekuitas. Tidak ada laba                       gain or loss is recognized in profit or loss on the
          atau rugi yang diakui pada laba rugi atas perolehan,                     acquisition, resale, issuance or cancellation of the
          penjualan kembali, penerbitan atau pembatalan dari                       Entity's equity instruments. The difference between
          instrumen ekuitas Entitas. Selisih antara jumlah                         the carrying amount and revenues, when redeemed,
          tercatat dan penerimaan, bila diterbitkan kembali,                       is recognized as part of additional paid-in capital in
          diakui sebagai bagian dari tambahan modal disetor                        equity.
          pada ekuitas.
                                                                            x.
          Saham yang dibeli kembali (treasury stock) untuk                  y.        Shares repurchased (treasury stock) to be issued
          dikeluarkan lagi dikemudian hari dicatat dengan                             again later recorded by the method of nominal value
          metode nilai nominal (par value method).                                    (par value method).
                                                                            z.
          Berdasarkan metode ini, saham beredar yang                        å.        Under this method, treasury stock is presented at the
          diperoleh kembali dicatat sebesar nilai nominalnya                          par value as a reduction from the capital stock
          dan disajikan sebagai pengurang akun modal saham.                           account. If the treasury stock had been original
          Apabila saham beredar yang diperoleh kembali                                issued at a price above par value, the related
          tersebut semula dikeluarkan dengan harga di atas                            additional paid in capital account is adjusted. Any
          nilai nominal, akun tambahan modal disetor akan                             excess of the reacquisition cost over the original
          disesuaikan. Selisih lebih harga perolehan dari harga                       reissuance price is adjusted to premium on treasury
          penerbitannya akan dikoreksi ke agio saham beredar                          stock.
          yang diperoleh kembali.
                                                                            bb.
     v. Laba per Saham Dasar                                                 jjj.v. Basic Earnings per Share
                                                                             kkk.
          Sesuai dengan PSAK No. 233 mengenai, “Laba per                            According to PSAK No. 233 regarding, “Basic
          Saham Dasar”, laba per saham dasar dihitung                               Earnings per Share, basic earnings per share is
          dengan membagi laba rugi yang dapat diatribusikan                         computed by dividing profit or loss attributable to
          kepada pemegang saham biasa Entitas dengan                                Entity’s ordinary stockholders by the weighted
          jumlah rata-rata tertimbang saham biasa yang                              average number of shares outstanding in issue during
          beredar dalam suatu tahun, tidak termasuk saham                           the year, excluding ordinary shares purchased by the
          biasa yang dibeli oleh Entitas yang dikenal sebagai                       Entity and held as treasury stock, amounting to
          saham treasuri yaitu sebesar 7.065.340.735 saham                          7,065,340,735 shares as of December 31, 2024 and
          pada tanggal 31 Desember 2024 dan 2023 (lihat                             2023 (see Note 24 and 36).
          Catatan 24 dan 36).


4.   PERTIMBANGAN, ESTIMASI DAN ASUMSI                                 4.       SIGNIFICANT           ACCOUNTING            JUDGMENT,
     AKUNTANSI YANG SIGNIFIKAN                                                  ESTIMATES AND ASSUMPTIONS
                                                                             lll.
     Penyusunan     laporan   keuangan      konsolidasian                       The preparation of consolidated financial statements
     mengharuskan manajemen untuk membuat estimasi dan                          requires management to make estimation and
     asumsi yang mempengaruhi jumlah aset dan liabilitas                        assumption that affect assets and liabilities and
     dan pengungkapan aset dan liabilitas kontinjensi pada                      disclosure of contingent assets and liabilities at the date
     tanggal laporan keuangan konsolidasian serta jumlah                        of the consolidated financial statements and the reported
     pendapatan dan beban yang dilaporkan selama periode                        amounts of revenues and expenses during the reporting
     pelaporan.                                                                 period.



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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
4.   PERTIMBANGAN, ESTIMASI DAN ASUMSI                                4.     SIGNIFICANT          ACCOUNTING            JUDGMENT,
     AKUNTANSI YANG SIGNIFIKAN - Lanjutan                                    ESTIMATES AND ASSUMPTIONS - Continued
                                                                           mmm.
     Pos-pos signifikan yang terkait dengan estimasi dan                     Significant posts associated with the estimation and
     asumsi antara lain:                                                     assumptions include:
                                                                           nnn.
     a. Cadangan Kerugian Kredit Ekspektasian                              ooo.
                                                                             a. Allowances for Expected Credit Loss
                                                                           ppp.
         Entitas dan Entitas Anak mengevaluasi akun tertentu               qqq. The Entity and Subsidiary evaluate specific accounts
         jika terdapat informasi bahwa pelanggan yang                            where it has information that certain customers are
         bersangkutan tidak dapat memenuhi liabilitas                            unable to meet their financial obligations.
         keuangannya.
                                                                           rrr.
         Dalam hal tersebut, Entitas dan Entitas Anak                      sss.   In these cases, the Entity and Subsidiary use
         mempertimbangkan, berdasarkan fakta dan situasi                          judgment, based on the best available facts and
         yang tersedia, termasuk namun tidak terbatas pada,                       circumstances, including but not limited to, the length
         jangka waktu hubungan dengan pelanggan dan                               of its relationship with the customer and the
         status kredit dari pelanggan dan faktor pasar yang                       customer’s current credit status and known market
         telah diketahui, untuk mencatat provisi spesifik atas                    factors, to record specific provisions against amounts
         jumlah piutang guna mengurangi jumlah piutang                            due to reduce its receivable amounts that expects to
         pada jumlah yang diharapkan dapat diterima. Provisi                      collect. These specific provisions are re-evaluated
         spesifik ini dievaluasi kembali dan disesuaikan jika                     and adjusted as additional information received
         tambahan informasi yang diterima mempengaruhi                            affects the amounts of allowance for impairment of
         jumlah penyisihan untuk penurunan nilai piutang.                         receivables.
                                                                           ttt.
         Nilai tercatat pinjaman yang diberikan dan piutang                uuu. The carrying amount of loans and receivables are
         telah diungkapkan dalam Catatan 6 dan 7.                                disclosed in Notes 6 and 7.
                                                                           vvv.
     b. Taksiran Masa Manfaat Ekonomis Aset Tetap dan                      www.
                                                                              b. Estimated Useful Lives of Property, Plant and
        Properti Investasi                                                       Equipment and Investment Property
                                                                           xxx.
         Masa manfaat setiap aset tetap dan properti investasi             yyy. The useful life of each item of the Entity and
         Entitas dan Entitas Anak ditentukan berdasarkan                         Subsidiary of property, plant and equipment, and
         kegunaan yang diharapkan dari aset tersebut.                            investment properties are estimated based on the
         Estimasi ini ditentukan berdasarkan evaluasi teknis                     period over which the asset is expected to be
         internal dan pengalaman atas aset sejenis.                              available for use. Such estimation is based on
                                                                                 internal technical evaluation and experience with
                                                                                 similar assets.
                                                                           zzz.
         Masa manfaat setiap aset direview secara periodik                 aaaa. The estimated useful life of each asset is reviewed
         dan disesuaikan apabila prakiraan berbeda dengan                        periodically and updated if expectations differ from
         estimasi sebelumnya karena keausan, keusangan                           previous estimates due to physical wear and tear,
         teknis dan komersial, hukum atau keterbatasan                           technical or commercial obsolescence and legal or
         lainnya atas pemakaian aset. Namun terdapat                             other limits on the use of the asset. It is possible,
         kemungkinan bahwa hasil operasi dimasa                                  however, that future results of operations could be
         mendatang dapat dipengaruhi secara signifikan oleh                      materially affected by changes in the amounts and
         perubahan atas jumlah serta periode pencatatan                          timing of recorded expenses brought about by
         biaya yang diakibatkan karena perubahan faktor                          changes in the factors mentioned above.
         yang disebutkan di atas.
                                                                           bbbb.
         Perubahan masa manfaat aset tetap dan properti                    cccc. A change in the estimated useful life of any item of
         investasi dapat mempengaruhi jumlah biaya                               property, plant and equipment and investment
         penyusutan yang diakui dan penurunan nilai tercatat                     properties would affect the recorded depreciation
         aset tersebut. Nilai tercatat aset tetap dan properti                   expense and decrease in the carrying values of these
         investasi diungkapkan dalam Catatan 12 dan 13.                          assets. The carrying amount of property, plant and
                                                                                 equipment and investment property are disclosed in
                                                                                 Notes 12 and 13.




                                                                 56
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                  PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                             ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                           STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                       As of and For The Year Ended
31 Desember 2024                                                                                            December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)
4.   PERTIMBANGAN, ESTIMASI DAN ASUMSI                                  4.     SIGNIFICANT   ACCOUNTING      JUDGMENT,
     AKUNTANSI YANG SIGNIFIKAN - Lanjutan                                      ESTIMATES AND ASSUMPTIONS - Continued

      c. Penurunan Nilai Aset Non-Keuangan                                     c. Impairment of Non-Financial Assets, except Goodwill
                                                                             dddd.
         Pada setiap akhir periode pelaporan, Entitas dan                    eeee. At the end of each reporting period, the Entity and
         Entitas Anak menelaah nilai tercatat aset non-                            Subsidiary review the carrying amount of non-
         keuangan untuk menentukan apakah terdapat                                 financial assets to determine whether there is any
         indikasi bahwa aset tersebut telah mengalami                              indication that those assets have suffered an
         penurunan nilai. Jika terdapat indikasi tersebut, nilai                   impairment loss. If any such indication exists, the
         yang dapat diperoleh kembali dari aset diestimasi                         recoverable amount of the asset is estimated in order
         untuk menentukan tingkat kerugian penurunan nilai                         to determine the extent of the impairment loss (if any).
         (jika ada). Bila tidak memungkinkan untuk                                 Where it is not possible to estimate the recoverable
         mengestimasi nilai yang dapat diperoleh kembali                           amount of an individual asset, the Entity and
         atas suatu aset individu, Entitas dan Entitas Anak                        Subsidiary estimate the recoverable amount of the
         mengestimasi nilai yang dapat diperoleh kembali                           cash generating unit to which the asset belongs.
         dari unit penghasil kas atas aset.
                                                                             ffff.
         Perkiraan jumlah yang dapat diperoleh kembali                       gggg. Estimated recoverable amount is the higher of fair
         adalah nilai tertinggi antara nilai wajar dikurangi                       value less cost to sell and value in use. In assessing
         biaya untuk menjual dan nilai pakai. Dalam menilai                        value in use, the estimated future cash flows are
         nilai pakai, estimasi arus kas masa depan                                 discounted to their present value using a pre-tax
         didiskontokan ke nilai kini menggunakan tingkat                           discount rate that reflects current market assessments
         diskonto sebelum pajak yang menggambarkan                                 of the time value of money and the risks specific to the
         penilaian pasar kini dari nilai waktu uang dan risiko                     asset for which the estimates of future cash flows
         spesifik atas aset yang mana estimasi arus kas masa                       have not been adjusted.
         depan belum disesuaikan.
                                                                             hhhh.
         Jika jumlah yang dapat diperoleh kembali dari aset                          If the recoverable amount of the non-financial asset
         non-keuangan (unit penghasil kas) kurang dari nilai                         (cash generating unit) is less than its carrying
         tercatatnya, nilai tercatat aset (unit penghasil kas)                       amount, the carrying amount of the asset (cash
         dikurangi menjadi sebesar nilai yang dapat diperoleh                        generating unit) is reduced to its recoverable amount
         kembali dan rugi penurunan nilai diakui langsung ke                         and an impairment loss is recognized immediately
         laba rugi.                                                                  against earnings.
                                                                             iiii.
      d. Pajak Penghasilan                                                     d. Income Tax

         Entitas dan Entitas Anak beroperasi di bawah                                The operations of the Entity and Subsidiary are under
         peraturan perpajakan di Indonesia. Pertimbangan                             the Indonesian tax regulations. Significant judgement
         yang signifikan diperlukan untuk menentukan                                 is required in determining the provision for income
         provisi pajak penghasilan dan pajak pertambahan                             taxes and value added taxes. Where the final tax
         nilai. Apabila keputusan final atas pajak tersebut                          outcome of these matters is different from the
         berbeda dari jumlah yang pada awalnya dicatat,                              amounts that were initially recorded, such
         perbedaan tersebut akan dicatat di laporan laba rugi                        differences will recorded at profit and loss account in
         pada periode dimana hasil tersebut dikeluarkan.                             the period in which such determination is made.

      e. Imbalan Kerja                                                         e.    Employee Benefits

         Nilai kini liabilitas imbalan kerja tergantung pada                         The present value of the employee benefits obligation
         sejumlah faktor yang ditentukan dengan                                      depends on a number of factors that are determined
         menggunakan asumsi aktuaria. Asumsi yang                                    on an actuarial basis using a number of assumptions.
         digunakan dalam menentukan biaya bersih untuk                               The assumptions used in determining the net cost for
         pensiun termasuk tingkat pengembalian jangka                                pensions include the expected long-term rate of
         panjang yang diharapkan atas aset program dan                               return on the relevant plan assets and the discount
         tingkat diskonto yang relevan. Setiap perubahan                             rate. Any changes in these assumptions will impact
         dalam asumsi ini akan berdampak pada nilai tercatat                         the carrying amount of employee benefits obligation.
         liabilitas imbalan kerja.




                                                                   57
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
4.    PERTIMBANGAN, ESTIMASI DAN ASUMSI                               4.     SIGNIFICANT   ACCOUNTING      JUDGMENT,
      AKUNTANSI YANG SIGNIFIKAN - Lanjutan                                   ESTIMATES AND ASSUMPTIONS - Continued

     e. Imbalan Kerja – Lanjutan                                             e.   Employee Benefits – Continued

         Asumsi tingkat pengembalian yang diharapkan atas                         The expected return on plan assets assumption is
         aset program ditentukan secara seragam, dengan                           determined on a uniform basis, taking into
         mempertimbangkan pengembalian historis jangka                            consideration long-term historical returns,asset
         panjang, alokasi aset dan perkiraan masa depan atas                      allocation and future estimates of long-term
         pengembalian investasi jangka panjang.                                   investment returns.

         Asumsi penting lainnya untuk liabilitas imbalan                          Other key assumptions for employee benefits
         kerja sebagian didasarkan pada kondisi pasar saat                        obligation are based in part on current market
         ini.                                                                     conditions.

         Nilai tercatat liabilitas diestimasi imbalan kerja                       The carrying amount of estimated liabilities for
         diungkapkan dalam Catatan 22.                                            employee benefits is disclosed in Note 22.

      f. Pengukuran Nilai Wajar                                              f.   Fair Value Measurement

         Sejumlah aset dan kewajiban yang termasuk ke                             A number of assets and liabilities included in the
         dalam laporan keuangan Entitas dan Entitas Anak                          Entity and Subsidiary financial statements require
         memerlukan pengukuran, dan/atau pengungkapan                             measurement at, and/or disclosure of fair value.
         atas nilai wajar.

         Pengukuran nilai wajar aset dan kewajiban keuangan                       The fair value measurement of the Entity’s and
         dan non-keuangan Entitas dan Entitas Anak                                Subsidiary financial and non-financial assets and
         memanfaatkan pasar input dan data yang dapat                             liabilities utilize market observable inputs and data
         diobservasi sedapat mungkin. Input yang digunakan                        as far as possible. Inputs used in determining fair
         dalam menentukan pengukuran nilai wajar                                  value measurements are categorized into different
         dikategorikan ke dalam level yang berbeda                                levels based on how observable the inputs used in the
         berdasarkan pada bagaimana input dapat diobservasi                       valuation technique utilized are (the fair value
         yang digunakan dalam teknik penilaian yang                               hierarchy):
         digunakan (hirarki nilai wajar):
         - Level 1: Harga kuotasi di pasar aktif untuk item                       -   Level 1: Quoted prices in active markets for
             yang serupa (tidak disesuaikan).                                         identical items (unadjusted).
         - Level 2: Teknik penilaian untuk input yang dapat                       -   Level 2: Valuation techniques for observable
             diamati langsung atau tidak langsung selain                              direct or indirect inputs other than level 1 inputs.
             input level 1.
         - Level 3: Teknik penilaian untuk input yang tidak                       -   Level 3: Valuation techniques for unobservable
             dapat diobservasi (yaitu tidak berasal dari data                         inputs (i.e. not derived from market data).
             pasar).

         Klasifikasi item menjadi level di atas didasarkan                        The classification of an item into the above levels is
         pada tingkat terendah dari input yang digunakan                          based on the lowest level of the inputs used that has
         yang memiliki efek signifikan pada pengukuran nilai                      a significant effect on the fair value measurement of
         wajar item tersebut. Transfer item antar level diakui                    the item. Transfers of items between levels are
         pada periode saat terjadinya.                                            recognized in the period they occur.

      Menentukan Penilaian Model Bisnis                                      Determining Business Model Assessment

      Klasifikasi dan pengukuran aset keuangan bergantung                    Classification and measurement of financial assets
      pada hasil pengujian semata pembayaran pokok dan                       depends on the results of the solely payment of principal
      bunga (SPPI) atas jumlah pokok terutang dan model                      and interest (SPPI) on the principal amount outstanding
      bisnis. Entitas dan Entitas Anak menentukan model                      and the business model test. Entity and Subsidiary
      bisnis pada tingkat yang mencerminkan bagaimana                        determines the business model at a level that reflects how
      kelompok aset keuangan dikelola bersama untuk                          groups of financial assets are managed together to
      mencapai tujuan bisnis tertentu. Penilaian ini mencakup                achieve a particular business objective. This assessment
      penilaian yang mencerminkan semua bukti yang relevan                   includes judgment reflecting all relevant evidence
      termasuk bagaimana kinerja aset dievaluasi dan                         including how the performance of the assets is evaluated
      kinerjanya diukur, risiko yang memengaruhi kinerja                     and their performance measured, the risks that affect the
      aset dan bagaimana pengelolaannya.                                     performance of the assets and how these are managed.


                                                                 58
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
4.   PERTIMBANGAN, ESTIMASI DAN ASUMSI                                4.      SIGNIFICANT           ACCOUNTING            JUDGMENT,
     AKUNTANSI YANG SIGNIFIKAN - Lanjutan                                     ESTIMATES AND ASSUMPTIONS - Continued
                                                                           jjjj.
     Menentukan Penilaian Model Bisnis – Lanjutan                             Determining Business Model Assessment – Continued
                                                                           bbbb.
                                                                           llll.
     Entitas dan Entitas Anak memantau aset keuangan yang                  mmmm.
                                                                              Entity and Subsidiary monitors financial assets measured
     diukur pada biaya perolehan diamortisasi atau nilai                      at amortized cost or fair value through other
     wajar melalui pendapatan komprehensif lain yang                          comprehensive income that are derecognized prior to
     dihentikan pengakuannya sebelum jatuh tempo untuk                        their maturity to understand the reason for their disposal
     memahami alasan pelepasannya dan apakah alasan                           and whether the reasons are consistent with the objective
     tersebut konsisten dengan tujuan bisnis di mana aset                     of the business for which the asset was held. Monitoring
     tersebut dimiliki. Pemantauan adalah bagian dari                         is part of the Entity’s and Subsidiary continuous
     penilaian berkelanjutan Entitas dan Entitas Anak tentang                 assessment of whether the business model for which the
     apakah model bisnis yang memiliki aset keuangan yang                     remaining financial assets are held continues to be
     tersisa masih sesuai dan jika tidak sesuai apakah telah                  appropriate and if it is not appropriate whether there has
     terjadi perubahan model bisnis dan oleh karena itu                       been a change in business model and so a prospective
     terdapat perubahan prospektif terhadap klasifikasi aset                  change to the classification of those assets.
     keuangan tersebut.
                                                                           nnnn.
     Menentukan      Peningkatan     Risiko    Kredit   yang               oooo.
                                                                             Determining Significant Increase in Credit Risk
     Signifikan
                                                                           pppp.
     Kerugian kredit ekspektasian (ECL) diukur sebagai                     qqqq.
                                                                             Expected credit losses (ECL) are measured as an
     penyisihan yang setara dengan ECL 12-bulan (12mECL)                     allowance equal to 12‑month ECL (12mECL) for stage 1
     untuk aset tahap 1, atau ECL sepanjang umur untuk aset                  assets, or lifetime ECL for stage 2 or stage 3 assets. An
     tahap 2 atau tahap 3. Suatu aset bergerak ke tahap 2                    asset moves to stage 2 when its credit risk has increased
     ketika risiko kreditnya telah meningkat secara signifikan               significantly since initial recognition. In assessing
     sejak pengakuan awal. Dalam menilai apakah risiko                       whether the credit risk of an asset has significantly
     kredit suatu aset telah meningkat secara signifikan,                    increased the Entity’s and Subsidiary into account
     Entitas dan Entitas Anak mempertimbangkan informasi                     qualitative and quantitative reasonable and supportable
     berwawasan ke depan yang wajar dan dapat didukung                       forward-looking information.
     secara kualitatif dan kuantitatif.
                                                                           rrrr.
     Menentukan dan Menghitung Penyisihan Kerugian                         ssss.
                                                                              Determining and Calculation of Loss Allowance
                                                                           tttt.
     Ketika mengukur kerugian kredit ekspektasian (ECL),                      When measuring expected credit losses (ECL), Entity’s
                                                                           uuuu.
     Entitas dan Entitas Anak menggunakan informasi                           and Subsidiary uses reasonable and supportable
     berwawasan ke depan yang wajar dan dapat didukung,                       forward-looking information, which is based on
     yang didasarkan pada asumsi untuk pergerakan masa                        assumptions for the future movement of different
     depan dari berbagai pendorong ekonomi dan bagaimana                      economic drivers and how these drivers will affect each
     pendorong ini akan saling memengaruhi.                                   other.
                                                                           vvvv.
     Loss given default adalah estimasi kerugian yang timbul               wwww.
                                                                              Loss given default is an estimate of the loss arising on
     karena gagal bayar (default). Hal ini didasarkan pada                    default. It is based on the difference between the
     perbedaan antara arus kas kontraktual yang jatuh tempo                   contractual cash flows due and those that the lender
     dan yang diharapkan akan diterima pemberi pinjaman,                      would expect to receive, taking into account cash flows
     dengan mempertimbangkan arus kas dari agunan dan                         from collateral and integral credit enhancements.
     peningkatan kredit integral.
                                                                           xxxx.
     Probabilitas default merupakan input utama dalam                      yyyy.
                                                                             Probability of default constitutes a key input in
     mengukur ECL. Probabilitas gagal bayar (default)                        measuring ECL. Probability of default is an estimate of
     adalah estimasi kemungkinan gagal bayar (default)                       the likelihood of default over a given time horizon, the
     selama jangka waktu tertentu, yang penghitungannya                      calculation of which includes historical data,
     mencakup data historis, asumsi, dan ekspektasi kondisi                  assumptions and expectations of future conditions.
     masa depan.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
4.   PERTIMBANGAN, ESTIMASI DAN ASUMSI                              4.     SIGNIFICANT   ACCOUNTING     JUDGMENT,
     AKUNTANSI YANG SIGNIFIKAN - Lanjutan                                  ESTIMATES AND ASSUMPTIONS - Continued

     Menentukan Apakah Suatu Pengaturan adalah atau                        Determining Whether an Arrangement is or Contains a
     Mengandung Sewa                                                       Lease

     Penentuan apakah suatu pengaturan merupakan atau                      Determining whether an arrangement is or contains a
     mengandung sewa memerlukan pertimbangan yang                          lease requires careful judgement to assess whether the
     cermat untuk menilai apakah pengaturan tersebut                       arrangement conveys a right to obtain substantially all
     memberikan hak untuk memperoleh secara substansial                    the economic benefits from use of the asset throughout
     semua manfaat ekonomik dari penggunaan aset selama                    the period of use and right to direct the use of the asset,
     periode penggunaan dan hak untuk mengarahkan                          even if the right is not explicitly specified in the
     penggunaan aset, bahkan jika pengaturan tersebut hak                  arrangement.
     tidak secara eksplisit ditentukan dalam pengaturan.

     Penentuan Opsi Masa Sewa                                              Determination Lease Term Option

     Masa sewa merupakan komponen signifikan dalam                         The lease term is a significant component in the
     pengukuran aset hak-guna dan liabilitas sewa.                         measurement of both the right-of-use asset and lease
     Pertimbangan dilakukan dalam menentukan apakah                        liability. Judgment is exercised in determining whether
     terdapat opsi untuk memperpanjang sewa atau membeli                   there is reasonable certainty that an option to extend the
     aset pendasar cukup pasti akan dieksekusi, atau opsi                  lease or purchase the underlying asset will be exercised,
     untuk mengakhiri sewa tidak akan dieksekusi, ketika                   or an option to terminate the lease will not be exercised,
     memastikan periode yang akan disertakan dalam masa                    when ascertaining the periods to be included in the lease
     sewa. Dalam menentukan masa sewa, semua fakta dan                     term. In determining the lease term, all facts and
     keadaan yang menciptakan insentif ekonomik untuk                      circumstances that create an economical incentive to
     menggunakan opsi perpanjangan, atau tidak untuk                       exercise an extension option, or not to exercise a
     menggunakan opsi penghentian, dipertimbangkan pada                    termination option, are considered at the lease inception
     tanggal insepsi sewa.                                                 date.

     Faktor-faktor yang dipertimbangkan dapat mencakup                     Factors considered may include the importance of the
     pentingnya aset untuk operasi Entitas dan Entitas Anak;               asset to the Entity and Subsidiary operations;
     perbandingan syarat dan ketentuan dengan harga pasar                  comparison of terms and conditions to prevailing market
     yang berlaku; timbulnya penalti yang signifikan; adanya               rates; incurrence of significant penalties; existence of
     perbaikan hak penyewaan yang signifikan; dan biaya                    significant leasehold improvements; and the costs and
     serta masalah gangguan untuk mengganti aset. Entitas                  disruption to replace the asset. the Entity and Subsidiary
     dan Entitas Anak menilai kembali apakah cukup pasti                   reassesses whether it is reasonably certain to exercise an
     untuk mengeksekusi opsi perpanjangan, atau tidak                      extension option, or not exercise a termination option, if
     mengeksekusi opsi penghentian, jika terdapat peristiwa                there is a significant event or significant change in
     signifikan atau perubahan keadaan yang signifikan.                    circumstances.

     Menentukan Suku Bunga Pinjaman Inkremental                            Determining Incremental Borrowing Rate

     Jika suku bunga implisit dalam sewa tidak dapat segera                Where the interest rate implicit in a lease cannot be
     ditentukan, suku bunga pinjaman inkremental diestimasi                readily determined, an incremental borrowing rate is
     untuk mendiskontokan pembayaran sewa di masa                          estimated to discount future lease payments to measure
     mendatang untuk mengukur nilai kini liabilitas sewa                   the present value of the lease liability at the lease
     pada tanggal permulaaan sewa. Suku bunga tersebut                     commencement date. Such a rate is based on what the
     didasarkan pada estimasi Entitas dan Entitas Anak yang                Entity’s and Subsidiary estimates it would have to pay a
     harus dibayarkan oleh Entitas dan Entitas Anak kepada                 third party to borrow the funds necessary to obtain an
     pihak ketiga untuk meminjam dana yang diperlukan                      asset of a similar value to the right-of-use asset, with
     untuk memperoleh aset dengan nilai yang sama dengan                   similar terms, security and economic environment.
     aset hak-guna, dengan persyaratan, keamanan, dan
     lingkungan ekonomi yang serupa.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                           PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                      ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                    STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                As of and For The Year Ended
31 Desember 2024                                                                                     December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)               (Expressed in Millions of Rupiah, unless otherwise stated)
5.   KAS DAN SETARA KAS                                          5.    CASH AND CASH EQUIVALENTS
                                                                      ii.
     Akun ini terdiri dari:                                            This account consists of:

                                                    2024                     2023

     Kas                                                     1.598                   1.873                         Cash on hand

     Bank:                                                                                                     Cash in banks:
     Rupiah                                                                                                            Rupiah
      PT Bank Danamon                                                                                    PT Bank Danamon
        Indonesia Tbk                                      417.824                  50.290                  Indonesia Tbk
      PT Bank Mandiri (Persero) Tbk                          7.609                   6.169    PT Bank Mandiri (Persero) Tbk
      PT Bank Central Asia Tbk                               5.428                   6.737         PT Bank Central Asia Tbk
      Lain - lain                                                                                                    Others
        (di bawah Rp 1 milyar)                               5.839                  49.337            (below Rp 1 billion)
     Sub-jumlah                                            436.700               112.533                               Sub-total

     Dolar Amerika Serikat                                                                                         U.S. Dollar
      PT Bank Central Asia Tbk                               2.510                   8.110          PT Bank Central Asia Tbk
      PT Bank Resona Perdania                                1.494                   1.930          PT Bank Resona Perdania
      Lain - lain                                                                                                     Others
         (di bawah Rp 1 milyar)                              2.056                   2.492             (below Rp 1 billion)
     Sub-jumlah                                              6.060                  12.532                             Sub-total

     CNY                                                                                                                  CNY
      PT Bank Central Asia Tbk                               4.188                       -          PT Bank Central Asia Tbk
     Sub-jumlah                                              4.188                       -                             Sub-total

     Deposito                                               55.103                  50.000                               Deposit
     Jumlah                                                503.649               176.938                                   Total


     Pada tanggal 31 Desember 2024 dan 2023, tidak ada kas              As of December 31, 2024 and 2023, no cash and cash
     dan setara kas yang digunakan sebagai jaminan. Tidak               equivalents were used as collateral. There are no cash
     terdapat saldo kas dan setara kas yang tidak dapat                 and cash equivalents balances that cannot be used or
     digunakan atau dibatasi penggunaannya.                             restricted in use.

     Tingkat suku bunga kontraktual deposito selama tahun               The contractual interest rates on the deposits during the
     berjalan adalah sebesar 6,25%.                                     year is 6.25%.

     Seluruh saldo kas dan setara kas merupakan milik Entitas           All cash and cash equivalents balance belong to the
     dan Entitas Anak.                                                  Entity and Subsidiary.

     Tidak ada kas dan setara kas yang dimiliki oleh pihak              There are no cash and cash equivalents held with related
     berelasi.                                                          parties.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in Millions of Rupiah, unless otherwise stated)
6.   PIUTANG USAHA                                                 6.    TRADE RECEIVABLES

     Akun ini terdiri dari:                                              This account consists of:

      a. Berdasarkan pelanggan                                            a. By debtors

                                                      2024                       2023
         Pihak ketiga                                                                                               Third parties
           Pelanggan dalam negeri                      1.117.759                  1.096.015                       Local debtors
           Pelanggan luar negeri                          16.575                     55.622                     Foreign debtors

         Sub-jumlah                                    1.134.334                  1.151.637                              Sub-total

         Cadangan kerugian                                                                                 Allowance for expected
          kredit ekspektasian                              (49.676)                  (49.230)                        credit loss

         Sub-jumlah                                    1.084.658                  1.102.407                              Sub-total
         Pihak berelasi                                                                                            Related parties
           PT Sanko Steel Indonesia                         35.871                   31.670           PT Sanko Steel Indonesia
           Lain - lain (dibawah 1 milliar)                   1.258                      716          Others (below Rp 1 billion)

         Sub-jumlah                                         37.129                   32.386                              Sub-total
         Jumlah                                        1.121.787                  1.134.793                                  Total


     b. Berdasarkan umur piutang usaha                                    b. Based on aging schedule of trade receivables

                                                      2024                       2023
         Pihak ketiga                                                                                                Third parties
         Belum jatuh tempo                                 686.398                  703.475                            Not yet due
         Jatuh tempo:                                                                                                    Due date:
           0 - 30 hari                                     292.601                  277.103                          0 - 30 days
           31 - 90 hari                                     59.426                   65.207                         31 - 90 days
           > 90 hari                                        46.233                   56.622                          > 90 days
         Sub-jumlah                                    1.084.658                  1.102.407                              Sub-total

         Pihak berelasi                                                                                            Related parties
         Belum jatuh tempo                                  15.424                   12.434                            Not yet due
         Jatuh tempo:                                                                                                    Due date:
           0 - 30 hari                                      20.041                   14.490                          0 - 30 days
           31 - 90 hari                                      1.664                    5.462                          31- 90 days
           > 90 hari                                             -                        -                           > 90 days
         Sub-jumlah                                         37.129                   32.386                              Sub-total
         Jumlah                                        1.121.787                  1.134.793                                  Total




                                                              62
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in Millions of Rupiah, unless otherwise stated)
6.   PIUTANG USAHA - Lanjutan                                      6.       TRADE RECEIVABLES – Continued

     c. Berdasarkan mata uang adalah sebagai berikut:                       c. Based on currency are as follows:

                                                      2024                        2023
         Pihak ketiga                                                                                                 Third parties
           Rupiah                                       1.043.341                   1.045.535                             Rupiah
           Dolar Amerika Serikat                           41.317                      56.872               Dolar Amerika Serikat
         Sub-jumlah                                     1.084.658                   1.102.407                                Sub-total
         Pihak berelasi                                                                                               Related parties
           Rupiah                                          37.129                      32.386                               Rupiah
         Jumlah                                         1.121.787                   1.134.793                                    Total


         Perubahan cadangan kerugian penurunan nilai adalah              iii.   The changes in the allowance for impairment losses
         sebagai berikut:                                                       are as follows:

                                                      2024                        2023
         Saldo awal                                        49.230                      44.374                    Beginning balance
         Penambahan tahun berjalan                          4.464                       8.840              Addition during the year
         Pengurangan periode berjalan                      (4.018)                     (3.984)          Deduction during the period
         Saldo akhir                                       49.676                      49.230                         Ending balance


        Piutang usaha merupakan tagihan kepada pelanggan                 iv.    Trade receivables represent receivables from
        atas kegiatan utama Entitas menjual produk hasil                        customers for the Entity's main activity selling its
        produksinya, tidak terdapat pengakuan pada piutang                      products, there is no recognition of trade receivables
        usaha diluar kegiatan utama Entitas.                                    outside the Entity's main activity.
                                                                         v.
        Berdasarkan hasil penelaahan atas kolektabilitas                 vi.    Based on the review of the collectibility of individual
        piutang masing-masing pelanggan pada akhir periode                      receivables at the end of statement, the management
        laporan, manajemen Entitas berpendapat bahwa                            of the Entity and Subsidiary believe that the
        cadangan kerugian penurunan nilai tersebut cukup                        allowance for impairment loss is adequate to cover
        untuk menutup kemungkinan kerugian dari tidak                           possible losses on uncollectible accounts.
        tertagihnya piutang usaha.
                                                                         vii.
        Tidak terdapat pengaruh yang signifikan terhadap                 viii. There is no significant impact on the Entity
        operasional Entitas karena pihak terkait sudah                         operations because the related parties have made
        melakukan pembayaran di bulan berikutnya                               payments in the following month, although some are
        meskipun beberapa masih terdapat outstanding.                          still outstanding.
                                                                         ix.
        Dalam hal terdapat piutang yang dijaminkan ke bank               x.    In the event that there are receivables that are
        dan bermasalah, Entitas tetap berkomitmen untuk                        pledged as collateral to the bank and are
        bertanggung jawab atas pembayaran piutang-piutang                      problematic, the Entity remains committed to being
        tersebut.                                                              responsible for the payment of these receivables.
                                                                         xi.
        Piutang usaha digunakan sebagai jaminan utang bank               xii. Trade receivables are used as collateral for bank
        yang diperoleh dari PT Bank Central Asia Tbk,                          loans obtained from PT Bank Central Asia Tbk,
        PT Bank Danamon Indonesia Tbk, PT Bank ICBC                            PT Bank Danamon Indonesia Tbk, PT Bank ICBC
        Indonesia, PT Bank SMBC Indonesia Tbk, PT Bank                         Indonesia, PT Bank SMBC Indonesia Tbk, PT Bank
        CTBC Indonesia dan PT Bank Resona Perdania (lihat                      CTBC Indonesia and PT Bank Resona Perdania (see
        Catatan 15 dan 19).                                                    Notes 15 and 19).




                                                              63
Page 358
PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
7.   PIUTANG LAIN-LAIN                                              7.     OTHER RECEIVABLE
                                                                         xiii.
     Akun ini terdiri dari:                                                This account consists of:

                                                    2024                        2023
     Pihak ketiga                                                                                                     Third parties
       Karyawan                                               537                         473                         Employees
       Lain-lain                                               34                         990                             Others
     Sub-jumlah                                               571                       1.463                              Sub-total
     Pihak berelasi                                                                                                  Related party
       PT Sanko Steel Indonesia                             2.230                       2.230           PT Sanko Steel Indonesia
        Cadangan kerugian kredit                                                                          Allowance for expected
         ekspektasian                                      (2.230)                     (2.230)                      credit loss
     Sub-jumlah                                                 -                           -                              Sub-total
     Jumlah                                                  571                       1.463                                  Total


     Piutang lain-lain pihak ketiga pada pos lain-lain               xiv. Other receivables from third parties in other items
     merupakan piutang ongkos angkut penjualan pada pihak                   represent freight charges receivable from sales to third
     ketiga dan uang jaminan sewa.                                          parties and rental deposit.
                                                                     xv.
     Piutang PT Sanko Steel Indonesia tidak dikenakan                xvi. Receivable from PT Sanko Steel Indonesia is unbearing
     bunga.                                                                 interest.
                                                                     xvii.
     Perubahan cadangan kerugian penurunan nilai adalah              xviii. The changes in the allowance for impairment losses are
     sebagai berikut:                                                       as follows:

                                                    2024                        2023
     Saldo awal                                            2.230                       2.230                    Beginning balance
     Penambahan periode berjalan                               -                           -            Addition during the period
     Pemulihan periode berjalan                                -                           -            Recovery during the period
     Pengurangan periode berjalan                              -                           -           Deduction during the period
     Saldo akhir                                           2.230                       2.230                       Ending balance



8.   PERSEDIAAN                                                     8.   INVENTORIES
                                                                    xix.
     Akun ini terdiri dari:                                         xx. This account consists of:

                                                    2024                        2023

     Bahan baku                                      2.010.748                   2.059.310                           Raw materials
     Barang jadi                                     1.264.158                     974.941                          Finished goods
     Bahan pembantu                                    194.665                     178.173                       Indirect materials
     Barang dalam perjalanan                            50.403                     464.234                         Goods in transit

     Jumlah                                          3.519.974                   3.676.658                                    Total




                                                               64
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in Millions of Rupiah, unless otherwise stated)
8.   PERSEDIAAN – Lanjutan                                           8.   INVENTORIES – Continued
                                                                     xxi.
     Persediaan digunakan sebagai jaminan atas utang bank                 Inventories are used as collateral for bank loans obtained
     yang diperoleh dari PT Bank Central Asia Tbk, PT Bank                from PT Bank Central Asia Tbk, PT Bank Danamon
     Danamon Indonesia Tbk, PT Bank ICBC Indonesia,                       Indonesia Tbk, PT Bank ICBC Indonesia, PT Bank SMBC
     PT Bank SMBC Indonesia Tbk, PT Bank Resona                           Indonesia Tbk, PT Bank Resona Perdania, PT Bank
     Perdania, PT Bank CTBC Indonesia dan PT Bank                         CTBC Indonesia and PT Bank Shinhan Indonesia (see
     Shinhan Indonesia (lihat Catatan 15 dan 19).                         Notes 15 and 19).

     Berdasarkan penelaahan terhadap kondisi fisik dan                     Based on a review of the physical condition and turnover
     tingkat perputaran persediaan pada akhir periode                      of the inventories at the end of the reporting period, the
     laporan, manajemen Entitas dan Entitas Anak menilai                   management of the Entity and Subsidiaries assesses that
     bahwa telah terjadi pengakuan beban atas persediaan                   there has been recognition of expenses for reject and have
     karena reject bukan karena usang dan telah dibebankan                 been charged to the income statement for the years ended
     pada laporan laba rugi untuk tahun yang berakhir                      December 31, 2024 and 2023 amounting to Rp 19,153
     31 Desember 2024 dan 2023 sebesar Rp 19.153 dan                       and Rp 15,114 (see Note 32).
     Rp 15.114 (lihat Catatan 32).

     Manajemen berkeyakinan bahwa tidak ada persediaan                     Management believes that these are no other obsolete
     usang selain biaya yang telah dibebankan pada laba rugi.              inventories aside from those charged to profit or loss.
     Persediaan tidak dicadangkan penurunan nilainya,                      Inventories are not provided for for impairment, due to
     karena sifat persediaan baja tersebut tidak lekang oleh               the timeless nature of steel inventories due to inventory
     waktu atas keusangan persediaannya.                                   obsolescence.

     Persediaan dan aset tetap, kecuali tanah, diasuransikan               Inventories and property, plant and equipment, except
     secara bersama terhadap risiko kebakaran, pencurian                   land, together were insured against fire, theft and other
     dan risiko lainnya dengan jumlah pertanggungan sebesar                possible risks with the amounts insured amounting to
     Rp 3.093.916, USD 43.468, EUR 1.490, JPY 83.237                       Rp 3,093,916, USD 43,468, EUR 1,490, JPY 83,237 as of
     pada tanggal 31 Desember 2024 dan Rp 1.669.454,                       December 31, 2024 and Rp 1,669,454, USD 31,720,
     USD 31.720, EUR 1.490, JPY 83.237 pada tanggal                        EUR 1,490, JPY 83,237 as of December 31, 2023.
     31 Desember 2023. Manajemen berpendapat bahwa                         Management believes that the insurance coverage is
     jumlah pertanggungan asuransi tersebut adalah cukup                   adequate to cover all possible losses to the assets and
     untuk menutup kerugian dari risiko atas aset dan                      inventories insured. Inventories are insured with
     persediaan yang dipertanggungkan. Persediaan telah                    insurance companies PT Asuransi Tugu Pratama
     diasuransikan pada perusahaan asuransi PT Asuransi                    Indonesia, PT BCA Insurance and PT Lippo Insurance.
     Tugu Pratama Indonesia, PT BCA Insurance, dan
     PT Lippo Insurance.


9.   UANG MUKA                                                   9.    ADVANCES
                                                                 xxii.
     Akun ini terdiri dari:                                            This account consists of:

                                                    2024                        2023

     Uang muka lancar                                                                                   Current advance payments
      Pembelian bahan baku                                 37.649                   10.000            Purchases of raw materials

     Uang muka tidak lancar                                                                          Non-current advance payments
      Pembelian tanah                                   321.404                    314.379                    Purchases of land
      Pembelian mesin                                   140.074                     84.916               Purchases of machines
     Jumlah                                             461.478                    399.295                                     Total




                                                                65
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
9.    UANG MUKA – Lanjutan                                        9.     ADVANCES – Continued
                                                                  xxiii.
      Uang muka pembelian tanah merupakan pembelian                      Advance for land acquisition represents land located at
      tanah yang berlokasi di Gresik, Jawa Timur, tanah                  Gresik, East Java, the land will be used to build the
      tersebut akan digunakan untuk membangun pabrik baru                Entity's new factory. As of December 31, 2024, the land is
      Entitas. Pada 31 Desember 2024, tanah tersebut masih               still in the process of land acquisition and processing from
      dalam proses pembebasan lahan dan pengurusan dari                  a sale and purchase deed to a land certificate.
      akta jual beli ke sertifikat tanah.

      Uang muka pembelian tanah yang dibayarkan bersifat                  Advances for land purchases paid are binding on the
      mengikat harga beli tanah tersebut sehingga ketika                  purchase price of the land so that when the advances are
      direalisasi uang muka tersebut nilainya adalah tetap dan            realized, the value is fixed and there is no impairment.
      tidak terdapat penurunan nilai.

      Tidak terdapat kendala yang signifikan dalam proses                 There were no significant obstacles in the land acquisition
      pembebasan lahan selain mengenai kesepakatan harga                  process apart from price agreements and land
      dan ketersediaan lahan. Entitas masih menunggu proses               availability. The entity is still waiting for the land
      sertifikasi tanah. Namun pembelian tanah menuju                     certification process. However, land purchases leading to
      proses sertifikasi memerlukan banyak tahapan prosedur               the certification process require many stages of the
      mulai dari girik, hingga sertifikasi hak guna bangunan              procedure, starting from girik, to building use rights
      sehingga tidak dapat diprediksi kapan selesainya                    certification, so it cannot be predicted when the certificate
      sertifikat tersebut.                                                will be completed.

      Uang muka Pembelian Mesin sampai saat ini belum                     Advances for Machine Purchase have not yet been
      dapat direalisasi karena belum selesainya tempat                    realized due to the unfinished machine storage area at the
      penyimpanan mesin dilokasi proyek Gresik yang masih                 Gresik project location which is still under construction,
      dalam proses pembangunan, transaksi pembelian mesin                 the machine purchase transaction was carried out by the
      tersebut dilakukan oleh vendor Xiamen C&D Metals                    vendor Xiamen C&D Metals Co., Ltd. However, there was
      Co., Ltd. Namun atas uang muka tersebut tidak terdapat              no indication of a decrease in value because the advance
      indikasi penurunan nilai karena uang muka yang telah                paid was USD 6,825,000 (full amount) or equivalent
      dibayarkan sebesar USD 6.825.000 (dalam nilai penuh)                Rp. 84,915,689,600 (full amount) is in the form of cash
      atau setara Rp 84.915.689.600 (dalam nilai penuh)                   which will remain the same value in terms of both
      adalah berupa uang tunai yang akan tetap bernilai sama              Management and Vendors. Therefore, the advance is not
      baik dari sisi Manajemen maupun Vendor. Sehingga                    included in the scope of asset impairment as stipulated in
      uang muka tersebut tidak termasuk dalam ruang                       PSAK 236.
      lingkup penurunan nilai aset sebagaimana diatur dalam
      PSAK 236.

      Terdapat penambahan uang muka pembelian mesin                       There was an additional advance purchase of machinery
      sebesar Rp 55.159.                                                  amounting to Rp 55,159.


10.   BIAYA DIBAYAR DI MUKA                                           10. PREPAID EXPENSES
                                                                      xxiv.
      Akun ini terdiri dari:                                          xxv. This account consists of:

                                                      2024                      2023

      Ongkos angkut                                        68.127                    66.096                           Freight charges
      Asuransi                                              2.446                     3.042                                Insurance
      Lain-lain                                                 5                         -                                    Others
      Jumlah                                               70.578                    69.138                                      Total




                                                                 66
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
11.   INVESTASI                                                        11. INVESTMENTS
                                                                       xxvi.
      Investasi                                                        xxvii. Investments
                                                                       xxviii.
      Berdasarkan    akta    No.   32,    oleh    notaris              xxix. Based on deed No. 32, dated September 22, 2017 by Jhon
      Jhon Edy Rahman, SH, Mkn di Jakarta Timur,                              Edy Rahman, SH, Mkn., notary in East Jakarta, the Entity
      tanggal 22 September 2017, Entitas melakukan                            invested in PT Marubeni - Itochu Steel Indonesia
      penyertaan saham di PT Marubeni - Itochu Steel                          amounting to 1,150 shares or equal to
      Indonesia sebesar 1.150 lembar atau setara sebesar                      Rp 57,658,125 (Full amount) or 0.23% of the equity
      Rp 57.658.125 (dalam nilai penuh) atau 0,23%                            shares.
      kepemilikan saham.
                                                                       xxx.
      Serta berdasarkan akta No. 42, oleh notaris                      xxxi. And based on deed No. 42, dated June 08, 2018
      Jhon Edy Rahman, SH, Mkn di Jakarta Timur,                             by Jhon Edy Rahman, SH, Mkn, notary in East Jakarta,
      tanggal 08 Juni 2018, Entitas melakukan penyertaan                     The Entity invested stock series B in PT Marubeni-Itochu
      saham seri B di PT Marubeni-Itochu Steel Indonesia                     Steel Indonesia amounting to 10,350 shares or equal to
      sebesar 10.350 lembar atau setara sebesar                              Rp 143,626,950 (Full amount) or 0.23% of the equity
      Rp 143.626.950 (dalam nilai penuh) atau 0,23%                          shares.
      kepemilikan saham.
                                                                       xxxii.
      Investasi pada PT Marubeni-Itochu Steel Indonesia,               xxxiii.Investment in PT Marubeni-Itochu Steel Indonesia, the
      Entitas mencatatnya sebagai investasi dengan metode                     Entity recorded it as an investment using the acquisition
      perolehan karena Entitas tidak memiliki signifikansi atas               method because the Entity has no significance for the
      investasi pada Entitas Asosiasi tersebut. Dan                           investment     in    the    Associated    Entity.    And
      PT Marubeni-Itochu Steel Indonesia telah beroperasi.                    PT Marubeni-Itochu Steel Indonesia has been operating.
                                                                       xxxiv.
      Investasi Pada Entitas Asosiasi                                  xxxv. Investments In Associates
                                                                       xxxvi.
      Berdasarkan akta No. 20, oleh notaris Lusia Hutabarat,                  Based on deed No. 20, dated November 11, 2015
      S.H. di Jakarta, tanggal 11 November 2015,                              by Lusia Hutabarat, S.H. notary in Jakarta, the Entity
      Entitas melakukan peningkatan penyertaan saham di                       invested in PT Sanko Steel Indonesia amounting to
      PT Sanko Steel Indonesia menjadi sebesar                                USD 2,800,000 or 50% of the equity shares whereby the
      USD 2.800.000 atau 50% kepemilikan saham dimana                         Entity is non-controlling shareholder.
      Entitas bukan pemegang saham pengendali.
                                                                       xxxvii.
      Mutasi penyertaan saham pada entitas asosiasi adalah                   Movement in investments in associates are as follows:
      sebagai berikut:

                                                   31 Desember 2024/December 31, 2024
                            Persentase                  Akumulasi Ekuitas dalam
                           Kepemilikan/      Harga        Laba (Rugi) Bersih/   Penurunan Nilai/
                            Percentage     Perolehan/    Accumulated Equity          Impairment         Nilai Buku/
                           of Ownership     At Cost      Net Earnings (Losses)         Value          Net Book Value

      Metode ekuitas                                                                                                        Equity method
      PT Sanko Steel                                                                                                       PT Sanko Steel
        Indonesia               50,00%         28.252                      11.126                 -          39.378           Indonesia

      Metode biaya
       perolehan                                                                                                             Cost method
      PT Marubeni-Itochu                                                                                               PT Marubeni-Itochu
        Steel Indonesia          0,23%            201                           -                 -              201     Steel Indonesia

      Jumlah                    50,23%         28.453                      11.126                 -          39.579                 Total




                                                                  67
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
11.   INVESTASI - Lanjutan                                            11.    INVESTMENTS - Continued

                                                 31 Desember 2023/December 31, 2023
                            Persentase                Akumulasi Ekuitas dalam
                           Kepemilikan/    Harga        Laba (Rugi) Bersih/   Penurunan Nilai/
                            Percentage    Perolehan/     Accumulated Equity            Impairment         Nilai Buku/
                           of Ownership   At Cost        Net Earnings (Losses)           Value          Net Book Value

      Metode ekuitas                                                                                                         Equity method
      PT Sanko Steel                                                                                                         PT Sanko Steel
        Indonesia                50,00%       28.252                         7.076                  -          35.328           Indonesia

      Metode biaya
       perolehan                                                                                                               Cost method
      PT Marubeni-Itochu                                                                                                 PT Marubeni-Itochu
        Steel Indonesia          0,23%           201                             -                  -              201     Steel Indonesia

      Jumlah                     50,23%       28.453                         7.076                  -          35.529                 Total



      Tidak tersedia informasi berdasarkan kuotasi harga                     There was no fair value information available based on
      publikasian atas nilai wajar investasi pada entitas                    quoted market prices of the investment in associates.
      asosiasi tersebut.

      Ringkasan informasi keuangan entitas asosiasi adalah                   The summary of financial information of the associates
      sebagai berikut:                                                       are as follows:

                                                       2024                          2023
      PT Sanko Steel Indonesia                                                                                  PT Sanko Steel Indonesia
      Jumlah agregat aset                                  124.280                     108.613                     Total aggregate assets
      Jumlah agregat liabilitas                             45.558                      45.476                 Total aggregate liabilities
      Jumlah agregat penjualan dan                                                                          Total aggregate net sales and
        pendapatan jasa                                    178.236                     164.620                          service revenues
      Jumlah agregat laba (rugi) tahun                                                                            Total aggregate income
        berjalan                                              9.052                         6.154                     (loss) for the year


                                                       2024                          2023
      PT Marubeni-Itochu Steel                                                                                  PT Marubeni-Itochu Steel
       Indonesia                                                                                                            Indonesia
      Jumlah agregat aset                                  387.956                     346.054                     Total aggregate assets
      Jumlah agregat liabilitas                            242.787                     198.735                 Total aggregate liabilities
      Jumlah agregat penjualan dan                                                                          Total aggregate net sales and
        pendapatan jasa                                 1.022.220                      990.773                          service revenues
      Jumlah agregat laba (rugi) tahun                                                                            Total aggregate income
        berjalan                                              2.104                         6.866                     (loss) for the year




                                                                68
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                                     As of and For The Year Ended
31 Desember 2024                                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                                      (Expressed in Millions of Rupiah, unless otherwise stated)
12.   ASET TETAP                                                                        12.       PROPERTY, PLANT AND EQUIPMENT

                                                                                                     Revaluasi/ Revaluation
                                                                                                     Eliminasi
                                                                                                    Akumulasi
                                                                                                   Penyusutan/         Surplus
                                                                                                  Elimination of     Revaluasi /
                            1 Januari 2024/   Penambahan/      Pengurangan/     Reklasifikasi/    Accumulated        Revaluation     31 Desember 2024/
                           January 1, 2024     Additions       Deductions     Reclassifications Depreciation          Surplus        December 31, 2024


      Biaya Perolehan/                                                                                                                                     Acquisition Cost/
        Revaluasi                                                                                                                                            Revaluation

      Pemilikan Langsung                                                                                                                                  Direct Acquisitions

      Tanah                       1.683.331        94.511                -              14.481                   -               -            1.792.323                 Land
      Bangunan dan                                                                                                                                             Buildings and
        prasarana                  305.733            802                -              88.717                   -               -             395.252      improvements
      Mesin dan                                                                                                                                                Machines and
        peralatan                  434.349         43.853                -              61.855                   -               -             540.057         equipment
      Kendaraan                      34.160         1.991              627                 66                    -               -              35.590               Vehicles
      Inventaris                                                                                                                                              Office furniture
        kantor                       58.496         1.339                -               3.359                                                  63.194        and fixtures
      Sub-jumlah                  2.516.069       142.496              627            168.478                    -               -            2.826.416             Sub-total

      Aset Dalam                                                                                                                                             Construction in
        Penyelesaian                                                                                                                                             Progress

      Bangunan dan                                                                                                                                             Buildings and
        prasarana                    34.851        82.486                4           (102.537)                   -               -              14.796      improvements
      Mesin dan                                                                                                                                                Machines and
        peralatan                    46.995        15.632              253            (58.885)                   -               -               3.489         equipment
      Inventaris                                                                                                                                              Office furniture
        kantor                        3.610           515                -              (4.014)                  -               -                 111        and fixtures
      Sub-jumlah                     85.456        98.633              257           (165.436)                   -               -              18.396              Sub-total

      Aset Hak Guna                                                                                                                                        Right of Use Asset

      Mesin dan                                                                                                                                                Machines and
        peralatan                    68.282                -             -                    -                  -               -              68.282         equipment
      Sub-jumlah                     68.282                -             -                    -                  -               -              68.282              Sub-total

      Jumlah                      2.669.807       241.129              884               3.042                   -               -            2.913.094                 Total

      Akumulasi                                                                                                                                                Accumulated
        Penyusutan                                                                                                                                           Depreciation

      Pemilikan Langsung                                                                                                                                  Direct Acquisitions

      Bangunan dan                                                                                                                                            Buildings and
        prasarana                    48.170        39.017                -                    -                  -               -              87.187      improvements
      Mesin dan                                                                                                                                                Machines and
        peralatan                    76.136       109.118                -                    -                  -               -             185.254         equipment
      Kendaraan                      26.104         3.019              627                    -                  -               -              28.496               Vehicles
      Inventaris                                                                                                                                              Office furniture
        kantor                       51.721         2.515                -                    -                  -               -              54.236        and fixtures
      Sub-jumlah                   202.131        153.669              627                    -                  -               -             355.173              Sub-total

      Aset Hak Guna                                                                                                                                        Right of Use Asset

      Mesin dan                                                                                                                                                Machines and
        peralatan                    17.212        11.378                -                    -                  -               -              28.590         equipment
      Sub-jumlah                     17.212        11.378                -                    -                  -               -              28.590              Sub-total


      Jumlah                       219.343        165.047              627                    -                  -               -             383.763                  Total

      Nilai Buku                2.450.464                                                                                                    2.529.331           Book value




                                                                                   69
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                                     As of and For The Year Ended
31 Desember 2024                                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                                      (Expressed in Millions of Rupiah, unless otherwise stated)
12.   ASET TETAP – Lanjutan                                                             12.       PROPERTY, PLANT AND EQUIPMENT - Continued

                                                                                                     Revaluasi/ Revaluation
                                                                                                     Eliminasi
                                                                                                    Akumulasi
                                                                                                   Penyusutan/         Surplus
                                                                                                  Elimination of     Revaluasi /
                            1 Januari 2023/   Penambahan/      Pengurangan/     Reklasifikasi/    Accumulated        Revaluation     31 Desember 2023/
                           January 1, 2023     Additions       Deductions     Reclassifications Depreciation          Surplus        December 31, 2023


      Biaya Perolehan/                                                                                                                                     Acquisition Cost/
        Revaluasi                                                                                                                                            Revaluation

      Pemilikan Langsung                                                                                                                                  Direct Acquisitions

      Tanah                       1.628.137        55.194                -                    -                  -               -            1.683.331                 Land
      Bangunan dan                                                                                                                                             Buildings and
        prasarana                  291.917                 -             -              13.816                   -               -             305.733      improvements
      Mesin dan                                                                                                                                                Machines and
        peralatan                  402.424         11.607               43              20.361                   -               -             434.349         equipment
      Kendaraan                      34.117           789              746                    -                  -               -              34.160               Vehicles
      Inventaris                                                                                                                                              Office furniture
        kantor                       58.360           136                -                    -                  -               -              58.496        and fixtures
      Sub-jumlah                  2.414.955        67.726              789              34.177                   -               -            2.516.069             Sub-total

      Aset Dalam                                                                                                                                             Construction in
        Penyelesaian                                                                                                                                             Progress

      Bangunan dan                                                                                                                                             Buildings and
        prasarana                    27.114        24.127               15            (16.375)                   -               -              34.851      improvements
      Mesin dan                                                                                                                                                Machines and
        peralatan                    17.017        32.577              206              (2.393)                  -               -              46.995         equipment
      Inventaris                                                                                                                                              Office furniture
        kantor                        1.050         2.560                -                    -                  -               -               3.610        and fixtures
      Sub-jumlah                     45.181        59.264              221            (18.768)                   -               -              85.456              Sub-total

      Aset Hak Guna                                                                                                                                        Right of Use Asset

      Mesin dan                                                                                                                                                Machines and
        peralatan                    83.473           218                -            (15.409)                   -               -              68.282         equipment
      Sub-jumlah                     83.473           218                -            (15.409)                   -               -              68.282              Sub-total

      Jumlah                      2.543.609       127.208            1.010                    -                  -               -            2.669.807                 Total

      Akumulasi                                                                                                                                                Accumulated
        Penyusutan                                                                                                                                           Depreciation

      Pemilikan Langsung                                                                                                                                  Direct Acquisitions

      Bangunan dan                                                                                                                                            Buildings and
        prasarana                         -        48.164                -                    6                  -               -              48.170      improvements
      Mesin dan                                                                                                                                                Machines and
        peralatan                         -        74.597                -               1.539                   -               -              76.136         equipment
      Kendaraan                      22.676         4.167              739                    -                  -               -              26.104               Vehicles
      Inventaris                                                                                                                                              Office furniture
        kantor                       49.416         2.305                -                    -                  -               -              51.721        and fixtures
      Sub-jumlah                     72.092       129.233              739               1.545                   -               -             202.131              Sub-total

      Aset Hak Guna                                                                                                                                        Right of Use Asset

      Mesin dan                                                                                                                                                Machines and
        peralatan                         -        18.757                -              (1.545)                  -               -              17.212         equipment
      Sub-jumlah                          -        18.757                -              (1.545)                  -               -              17.212              Sub-total


      Jumlah                         72.092       147.990              739                    -                  -               -             219.343                  Total

      Nilai Buku                2.471.517                                                                                                    2.450.464           Book value




                                                                                   70
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
12.   ASET TETAP – Lanjutan                                            12.    PROPERTY, PLANT AND EQUIPMENT - Continued

      Terdapat tanah yang belum atas nama Entitas seluas                      There is land that is not yet in the name of the Entity,
      162.722 m2.                                                             covering an area of 162,722 sqm.

      Selain metode dengan pendekatan biaya yang digunakan                    In addition to the cost approach used in estimating fair
      dalam mengestimasi nilai wajar, metode pendekatan                       value, other approaches are the revenue approach, the
      lainnya adalah pendekatan pendapatan, pendekatan                        replacement cost approach, and the market data
      biaya pengganti, dan pendekatan data pasar.                             approach.

      Tidak terdapat pembatasan-pembatasan distribusi saldo                   There are no restrictions on the distribution of the
      surplus revaluasi terhadap penurunan saham atas                         revaluation surplus balance to the decline in shares due
      perubahan revaluasi atau rugi penurunan nilai tersebut.                 to changes in the revaluation or impairment losses.

      Berikut rincian saldo transaksi surplus revaluasi:                      The following are the details of the revaluation surplus
                                                                              transaction balance:

                                                       2024                        2023

      Saldo awal                                           1.221.714                1.221.714                       Beginning balance
      Mutasi                                                       -                        -                               Mutation
      Saldo akhir                                          1.221.714                1.221.714                         Ending balance

      Beban penyusutan yang dialokasikan adalah sebagai                       Depreciation expenses are allocated as follows:
      berikut:

                                                      2024                         2023

      Beban pabrikasi                                       161.500                   143.969                 Manufacturing expenses
      Beban umum dan administrasi                             1.876                     2.479              General and administrative
      Beban penjualan dan distribusi                          1.671                     1.542        Selling and distribution expenses
      Jumlah                                                165.047                   147.990                                    Total


      Penjualan aset tetap pemilikan langsung adalah sebagai                   The sale of property, plant and equipment – direct
                                                                             xxxviii.
      berikut:                                                                 ownership are as follows:

                                                       2024                        2023
      Harga jual                                                225                           -                           Selling price
      Nilai buku                                                  -                           -                            Book value
                                                                                                     Gain on sales of property, plant,
      Laba penjualan aset tetap                                 225                           -                     and equipment




                                                                  71
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
12.   ASET TETAP - Lanjutan                                           12.    PROPERTY, PLANT AND EQUIPMENT - Continued
                                                                           xxxix.
      Penambahan aset untuk tahun yang berakhir tanggal               xl. Addition of property, plant and equipment for the year
      31 Desember 2024 sebesar Rp 241.129 adalah berasal                     ended December 31, 2024 amounting to Rp 241,129 is
      dari perolehan langsung. Terdapat penambahan aset yang                 derived from direct acquisition. There were additional
      berasal dari reklasifikasi uang muka pembelian sebesar                 assets resulting from the reclassification of advances for
      Rp 25.296 pada periode yang berakhir 31 Desember                       purchases of Rp 25,296 for the year ended
      2024.                                                                  December 31, 2024.
                                                                      xli.
      Tidak terdapat aset tetap yang tidak dipakai sementara          xlii. There are no temporary unused property, plant, and
      pada tahun yang berakhir 31 Desember 2024 dan 2023.                    equipment for the years ended December 31, 2024 and
                                                                             2023.
                                                                      xliii.
      Tidak terdapat aset tetap yang dihentikan penggunaannya         xliv. There are no property, plant, and equipment that are
      sehingga tidak diklasifikasikan sebagai tersedia untuk                 discontinued so that they are not classified as available
      dijual.                                                                for sale.
                                                                      xlv.
      Pada tanggal 31 Desember 2024 dan 2023, Entitas dan                    As of December 31, 2024 and 2023, the Entity and
      Entitas Anak masih menggunakan aset tetap yang nilai                   Subsidiary are still using the property, plant and
      bukunya telah habis disusutkan dengan harga perolehan                  equipment which their book value have been fully
      masing-masing sebesar Rp 23.321 dan Rp 65.025.                         depreciated with carrying value amounting to Rp 23,321
                                                                             and Rp 65,025, respectively.

      Pada tanggal 31 Desember 2024 dan 2023, Entitas dan                    As of December 31, 2024 and 2023, the Entity and
      Entitas Anak melakukan penghapusbukuan aset tetap                      Subsidiary perform write-off of the property, plant and
      dengan nilai buku masing-masing sebesar Rp 627 dan                     equipment which their book value amounting to Rp 627
      Rp 739.                                                                and Rp 739, respectively.

      Entitas memiliki beberapa bidang tanah yang terletak di                The Entity owns several plots of land that are located in
      Surabaya, Pasuruan, Karawang dan Sidoarjo dengan hak                   Surabaya, Pasuruan, Karawang and Sidoarjo with
      legal berupa Hak Guna Bangunan (HGB) yang berjangka                    Building Use Rights (Hak Guna Bangunan or HGB) for
      waktu antara 20 dan 30 tahun yang akan jatuh tempo                     a period of 20 and 30 years that will mature in the years
      tahun 2045.                                                            2045.

      Entitas memiliki beberapa bidang tanah yang terletak di                The Entity owns several plots of land located in Gresik
      Gresik dan saat ini sedang dalam proses perubahan hak                  and is still in the process of changing the legal right to
      legal menjadi atas nama Entitas.                                       such plots to the name of Entity.

      Tidak terdapat aset tetap yang berasal dari hibah.                     There are no property, plant, and equipment originating
                                                                             from grants.

      Berdasarkan evaluasi yang dilakukan, manajemen                         Based on the management’s evaluation, there are no
      berpendapat bahwa tidak terdapat peristiwa atau                        events or changes in circumstances which may indicate
      perubahan keadaan yang menunjukkan adanya                              impairment in value of property, plant and equipment
      penurunan nilai aset tetap Entitas dan Entitas Anak pada               owned by the Entity and Subsidiary as of
      tanggal 31 Desember 2024 dan 2023.                                     December 31, 2024 and 2023.

      Pada 31 Desember 2024, nilai tercatat aset dalam                       As of December 31, 2024, the carrying amount of the
      penyelesaian Entitas sebesar Rp 165.696 sudah                          Entity construction in progress of Rp 165,696 has been
      direklasifikasi ke aset tetap di akhir 2024.                           reclassified to property and equipment at the end of
                                                                             2024.

      Aset tetap tertentu milik Entitas dijadikan jaminan atas               Certain property, plant and equipment which were
      utang bank yang diperoleh dari PT Bank Central Asia                    owned by the Entity are used as collateral for the bank
      Tbk (lihat Catatan 16 dan 20).                                         loans obtained from PT Bank Central Asia Tbk
                                                                             (see Notes 16 and 20).




                                                                 72
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
12.   ASET TETAP - Lanjutan                                            12.    PROPERTY, PLANT AND EQUIPMENT - Continued

      Aset tetap, kecuali tanah, bersama-sama dengan                          Property, plant and equipment, except land, together
      persediaan, telah diasuransikan terhadap risiko                         with inventories, were insured against fire, theft and
      kebakaran, pencurian dan risiko lainnya dengan jumlah                   other possible risks with the amounts insured amounting
      pertanggungan sebesar Rp 3.093.916, USD 43.468, EUR                     to Rp 3,093,916, USD 43,468, EUR 1,490, JPY 83,237
      1.490, JPY 83.237 pada tanggal 31 Desember 2024 dan                     as of December 31, 2024 and Rp 1,669,455, USD 31,720,
      Rp 1.669.455, USD 31.720, EUR 1.490, JPY 83.237                         EUR 1,490, JPY 83,237 as of December 31, 2023. The
      pada tanggal 31 Desember 2023. Aset telah                               assets are insured with insurance companies PT CAR
      diasuransikan pada perusahaan asuransi PT CAR Life                      Life Insurance, PT ATB Insurance, PT Lippo Insurance
      Insurance, PT ATB Insurance, PT Lippo Insurance, dan                    and PT Bintang Insurance.
      PT Bintang Insurance.

      Manajemen berpendapat bahwa jumlah pertanggungan                        Management believes that insurance coverage is
      asuransi tersebut adalah cukup untuk menutup kerugian                   adequate to cover all possible losses to the assets and
      dari risiko atas aset dan persediaan yang                               inventories insured.
      dipertanggungkan.


13.   PROPERTI INVESTASI                                               13.    INVESTMENT PROPERTIES

                                                      2024                         2023

      Denpasar                                               4.788                        4.788                               Denpasar
      Prigen                                                 4.279                        4.279                                 Prigen
      Jumlah                                                 9.067                        9.067                                   Total


      Properti investasi merupakan tanah di Denpasar dengan                   Investment properties represent in Denpasar with an
      luas 400 m2 dan tanah di Prigen dengan luas 2.680 m2.                   area of 400 m2 and in Prigen with an area of 2,680 m2.
      Pada tanggal 31 Desember 2024, manajemen Entitas dan                    As of December 31, 2024, the Entity’s and Subsidiary’s
      Entitas Anak belum memutuskan tujuan penggunaan atas                    management have not yet decided on the intended use of
      properti investasi berupa tanah tersebut.                               the land in the form of an investment property.

      Tidak terdapat beban yang ditimbulkan atas properti                     There is no expense incurred on investment property,
      investasi, karena properti investasi tersebut tidak                     because the investment property is not rented out.
      disewakan.

      Tidak terdapat perubahan nilai wajar atas properti                      There is no change in the fair value of the investment
      investasi tersebut karena Entitas mencatat dengan nilai                 property because the Entity records it at cost, because
      perolehan, disebabkan nilai pasar melebihi dari nilai                   the market value exceeds the cost value.
      perolehan.

      Properti investasi diperoleh sejak tahun 2015 dan seluruh               The investment property was acquired in 2015 and all of
      tanah tersebut merupakan hak milik Entitas berdasarkan                  the land is the property of the Entity based on certificate
      sertifikat No. 102 untuk tanah di Denpasar dan No. 572                  No. 102 for land in Denpasar and No. 572 for land in
      untuk tanah di Prigen.                                                  Prigen.




                                                                  73
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                            PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                       ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                     STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                 As of and For The Year Ended
31 Desember 2024                                                                                      December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
14.   ASET TAKBERWUJUD                                               14.    INTANGIBLE ASSET

      Akun ini terdiri dari:                                                This account consists of:

                                                    2024                         2023
      Harga perolehan                                   99.347                        98.706                        Acquisition cost
      Akumulasi amortisasi                             (97.616)                      (95.934)               Accumulated amortization
      Nilai buku aset takberwujud                          1.731                        2.772           Book value of intangible asset


      Aset tak berwujud merupakan aplikasi perangkat lunak                  Intangible assets represent ERP (Enterprise Resource
      ERP (Enterprise Resource Planning).                                   Planning) software applications.

      Beban amortisasi untuk tahun yang berakhir pada tanggal               Amortization expense for the years ended December 31,
      31 Desember 2024 dan 2023 adalah sebesar Rp 1.682 dan                 2024 and 2023 amounted to Rp 1,681 and Rp 5,575 (see
      Rp 5.575 (lihat Catatan 30).                                          Note 30).


      15. UTANG BANK JANGKA PENDEK                                   15.    SHORT-TERM BANK LOANS

      Akun ini terdiri dari:                                                This account consists of:

                                                    2024                         2023
      PT Bank Central Asia Tbk                         746.517                     1.268.527               PT Bank Central Asia Tbk
      PT Bank Resona Perdania                          150.399                       217.026               PT Bank Resona Perdania
      PT Bank SMBC Indonesia Tbk                        21.751                       125.369            PT Bank SMBC Indonesia Tbk
      PT Bank Danamon                                                                                             PT Bank Danamon
       Indonesia Tbk                                             -                      73.583                      Indonesia Tbk
      PT Bank Shinhan Indonesia                                  -                      51.411            PT Bank Shinhan Indonesia
      PT Bank ICBC Indonesia                                     -                      21.830              PT Bank ICBC Indonesia
      Jumlah                                           918.667                    1.757.746                                      Total


      Semua batasan-batasan atau negative covenant dalam                    All restrictions or negative covenants in the bank and
      perjanjian bank dan waiver sudah diungkapkan dalam                    waiver agreements have been disclosed in the notes to
      catatan atas laporan keuangan terkait.                                the related financial statements.

      Pembayaran utang bank jangka pendek selama periode                    Payment of short-term bank loans for the period
      31 Desember 2024 dan 2023 adalah sebesar                              December 31, 2024 and 2023 amounted to Rp 5,394,706
      Rp 5.394.706 dan Rp 7.018.208.                                        and Rp 7,018,208.




                                                                74
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
15.   UTANG BANK JANGKA PENDEK - Lanjutan                              15.     SHORT-TERM BANK LOANS - Continued

      PT Bank Central Asia Tbk (BCA)                                          PT Bank Central Asia Tbk (BCA)

      Entitas memperoleh pinjaman dari BCA berupa fasilitas                   The Entity obtained loan facilities from BCA are as
      sebagai berikut:                                                        follows:

                         Fasilitas/                        Maksimum Kredit/                                Jatuh Tempo/
                        Facilities                         Maximum Credit                                  Maturity Date

      Valuta asing/Foregn Exchange                           USD 20.000                            28 Februari 2025/February 28, 2025
      Kredit Lokal/Local Credit                               Rp 100.000                           28 Februari 2025/February 28, 2025
      Kredit Multi Facility/Multy Facility Credit            USD 155.000                           28 Februari 2025/February 28, 2025
      Time Loan Revolving                                     Rp 440.000                           28 Februari 2025/February 28, 2025
      Bank Garansi/Bank Guarantee                             Rp 30.000                            28 Februari 2025/February 28, 2025
      Nego/Diskonto/Negotiation /Discounts                    USD 5.000                            28 Februari 2025/February 28, 2025
      Kredit Investasi 5/Investment Credit 5                  Rp 95.000                                   22 April 2024/April 22, 2024
      Kredit Investasi 6/Investment Credit 6                  Rp 105.000                           28 Februari 2025/February 28, 2025

      Fasilitas pinjaman tersebut dijamin dengan piutang                     a. The loan facility is collateralized with trade receivables,
      usaha, persediaan, tanah, bangunan, dan mesin milik                       inventories, landrights, building, and machines, owned
      Entitas (lihat Catatan 6, 8 dan 12). Pinjaman ini dijamin                 by the Entity (see Notes 6, 8 and 12). The loan is
      dengan jaminan yang sama dengan fasilitas jangka                          collateralized by the same collateral as the long-term
      panjang yang diperoleh dari bank yang sama                                facilities obtained from the same bank (see Note 19). This
      (lihat Catatan 19). Pinjaman ini dikenakan bunga                          loan bears annual interest of 7.25 – 7.75% as of
      tahunan masing-masing sebesar 7,25 – 7,75% pada                           December 31, 2024 and 2023.
      tanggal 31 Desember 2024 dan 2023.

      Persyaratan dalam perjanjian sehubungan dengan                           Terms of the agreement in connection with this credit
      fasilitas kredit ini meliputi pembatasan sebagai berikut:                facility includes:

      1. Pemeliharaan rasio keuangan (Current Ratio                            1. Maintenance of financial ratios (Current Ratio of at
         minimum 1, Leverage Ratio maksimum 2,5 dan Debt                          least 1, Leverage Ratio maximum of 2.5, and Debt
         Service Coverage minimum 1,0).                                           Service Coverage at least 1.0).
      2. Tanpa persetujuan tertulis terlebih dahulu dari BCA,                  2. Without prior written approval from BCA, the Entity
         Entitas tidak diperkenankan untuk:                                       is not allowed to:
         a. Mengikatkan diri sebagai penjamin.                                    a. Bind the Entity is itself as a guarantor.
         b. Menambah fasilitas kredit dari bank atau                              b. Receive credit facility from bank or other
             lembaga keuangan lain.                                                   financial institution.

      Pada tanggal 31 Desember 2024 dan 2023, Entitas telah                    As of December 31, 2024 and 2023, the Entity has
      memenuhi persyaratan tersebut.                                           complied with these requirements.

      PT Bank Resona Perdania (Resona)                                         PT Bank Resona Perdania (Resona)

      Entitas memperoleh pinjaman dari Resona berupa                           The Entity obtained loan facility from Resona in the form
      fasilitas Limit Gabungan dengan jumlah maksimum                          of Combined Limit and Treasury Facility in the form of
      masing-masing sebesar USD 15.000 dan dikenakan                           with maximum credit amounting to USD 15,000,
      tingkat bunga sebesar COLF+0,75% untuk mata uang                         respectively, with interest rate of COLF +0.75% for USD
      USD dan COLF+1,875% untuk mata uang Rupiah.                              currency and COLF + 1.875% per for Rupiah currency.
      Pinjaman ini jatuh tempo pada tanggal 15 Agustus 2025.                   This loan facility has maturity date on August 15, 2025.

      Fasilitas pinjaman dari Resona ditunjukan untuk                          Facilities from Resona are intended to support the
      menunjang kegiatan operasional Entitas.                                  Entity’s operating activities.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
15.   UTANG BANK JANGKA PENDEK - Lanjutan                              15.     SHORT-TERM BANK LOANS - Continued

      PT Bank Resona Perdania (Resona) – Lanjutan                             PT Bank Resona Perdania (Resona) – Continued

      Fasilitas pinjaman tersebut dijamin dengan piutang usaha                The loan facilities are collateralized by trade receivables
      dan persediaan yang diikat Fidusia Notariil sebesar                     and inventories which is bound by notary fiduciary
      USD 15.000 milik Entitas.                                               amounting to USD 15,000 owned by the Entity.

      Persyaratan dalam perjanjian sehubungan dengan                          Terms of the agreement in connection with this credit
      fasilitas kredit ini meliputi pembatasan sebagai berikut:               facility include:

      1. Tanpa persetujuan tertulis terlebih dahulu dari                      1. Without prior written approval from Resona, the
         Resona, Entitas, tidak diperkenankan untuk:                             Entity, is not allowed to:
         a. Memperoleh fasilitas kredit baru dari pihak lain.                    a. Obtain new credit facilities from other parties.
         b. Mengikatkan diri sebagai penjamin.                                   b. Bind the Entity is itself as a guarantor.
         c. Memindah tangankan, menjual atau melepaskan                          c. Transfer, sell or otherwise dispose of material
            aset material Entitas.                                                   assets of the Entity.
         d. Mengubah bentuk/status hukum Entitas.                                d. Change the Entity’s form/legal status.

      Pada tanggal 31 Desember 2024 dan 2023, Entitas telah                   As of December 31, 2024 and 2023, the Entity has
      memenuhi persyaratan tersebut.                                          complied with these requirements.

      PT Bank ICBC Indonesia (ICBC)                                           PT Bank ICBC Indonesia (ICBC)

      Entitas memperoleh pinjaman dari ICBC berupa fasilitas                  The Entity obtained Import letter of Credit (LC) Line
      Import LC Line (Sight/Usance) dengan main limit                         (Sight/Usance) loan facility with main limit
      sebesar Rp 182.500. Pinjaman ini dikenakan bunga                        amounting to Rp 182,500 from ICBC. This loan bears
      sebesar 5 - 8% per tahun. Perjanjian ini telah                          interest at 5 - 8% per annum. The agreement has been
      diperpanjang dan akan jatuh tempo pada tanggal                          extended and will be due on May 26, 2025.
      26 Mei 2025.

      Entitas telah memperoleh perubahan perjanjian kredit                    The Entity has obtained an amendment to the credit
      dengan No. 114/LOD-CBSBY/IX/2021 pada tanggal                           agreement with No. 114/LOD-CBSBY/IX/2021 on
      24 September 2021 perihal perubahan pemberitahuan                       September 24, 2021 regarding changes to the
      pemegang saham non publik debitur yang disampaikan                      notification of debtor non-public shareholders submitted
      tidak lebih dari 30 hari setelah peristiwa.                             no later than 30 days after the event.

      Fasilitas pinjaman tersebut dijamin dengan piutang usaha                The loan facility was collateralized with trade
      dan persediaan milik Entitas yang diikat Fidusia Notariil               receivables and inventories owned by the Entity which is
      sebesar USD 20.000.(lihat Catatan 6 dan 8).                             bound by Notary Fiduciary amounting to
                                                                              USD 20,000 (see Notes 6 and 8).

      Persyaratan dalam perjanjian sehubungan dengan                          Terms of the agreement in connection with this credit
      fasilitas kredit ini meliputi pembatasan sebagai berikut:               facility include:

      1. Pemeliharaan Gearing Ratio maksimum 3,25.                            1. Maintenance of Gearing Ratio with maximum of
                                                                                 3.25.
      2. Tanpa persetujuan tertulis terlebih dahulu dari ICBC,                2. Without prior written approval from ICBC, the
         Entitas, tidak diperkenankan untuk:                                     Entity, is not allowed to:
         a. Mengalihkan hak dan kewajiban kepada pihak                           a. Transfer the rights and obligations to any party.
             manapun juga.
         b. Memperoleh pinjaman dan atau meminjamkan                               b. Obtain loans or lend money to a third party.
             uang kepada pihak ketiga.
         c. Mengubah bidang usaha Entitas.                                         c. Change fields of business.
         d. Mengubah bentuk/status hukum Entitas.                                  d. Change the Entity’s form / legal status.
         e. Melakukan merger, akuisisi, konsolidasian,                             e. Conduct merger, acquisition, consolidation,
             investasi.                                                               investment.
         f. Memindah tangankan, menjual atau melepaskan                            f. Transfer, sell or otherwise dispose of material
             aset material Entitas.                                                   assets of the Entity.




                                                                  76
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
15.   UTANG BANK JANGKA PENDEK - Lanjutan                              15.    SHORT-TERM BANK LOANS - Continued

      PT Bank ICBC Indonesia (ICBC) - Lanjutan                                PT Bank ICBC Indonesia (ICBC) - Continued

      Pada tanggal 31 Desember 2024 dan 2023, Entitas telah                   As of December 31, 2024 and 2023, the Entity has
      memenuhi persyaratan tersebut.                                          complied with these requirements.

      PT Bank SMBC Indonesia Tbk                                              PT Bank SMBC Indonesia Tbk

      Entitas mendapatkan fasilitas pinjaman dari SMBC yaitu                  The Entity obtained facility from SMBC are as follows:
      berupa:

                                      Maksimum Kredit/
       Fasilitas/Facilities           Maximum Credit                                                          Kegunaan/Use of Fund
       Loan on Note-1                    USD 3.000                                                      Modal kerja/Working Capital
       Loan on Note-2                    USD 14.000                      Pembiayaan tagihan supplier/Financing invoice to suppliers
                                                                       Impor (penerbitan L/C impor dan L/C lokal untuk pengadaan
       Commercial letter of                                                barang/ Import (issuance of import L/C and local L/C for
       credit                            USD 20.000                                                             goods procurement)
                                                                           Impor (pembayaran L/C Impor (Usance) dan L/C Lokal)/
       Acceptance                        USD 20.000
                                                                                     Import (to settle impor (usance) and local L/C)
       Loan on note trust                                               Impor (pembayaran L/C dan L/C Lokal (Sight dan Usance))/
       receipt                           USD 20.000                         Import (to settle L/C and Local L/C (Sight and Usance))
       Bank garansi/bank
       guarantee                         USD 14.000                              Penerbitan bank garansi/Issuance of bank guarantee
       Foreign Bills Bought-2            USD 14.000                                                    Modal kerja/Working capital

      Pinjaman ini dikenakan bunga tahunan sebesar 1,5%                       These loans bear annual interest at 1.5% above cost of
      ditambah cost of fund dan 2,5% ditambah cost of fund                    fund and 2.5% above cost of fund for loan in IDR
      masing-masing untuk pinjaman dalam mata uang IDR                        currency and USD currency, respectively, secured by
      dan USD serta dijamin dengan piutang dan persediaan                     trade receivables and inventories owned by the Entity
      Entitas (lihat Catatan 6 dan 8). Pinjaman ini akan jatuh                (see Notes 6 and 8). The loan will be due on
      tempo pada tanggal 30 September 2025.                                   September 30, 2025.

      Persyaratan dalam perjanjian sehubungan dengan                          Terms of the agreement in connection with this credit
      fasilitas kredit ini meliputi pembatasan sebagai berikut:               facility includes:

      1. Rasio lancar dipertahankan paling sedikit 1,0                        1. Current ratio is maintained for minimum of 1.0 to
         banding 1,0 kali.                                                       1.0 times.
      2. Perbandingan utang terhadap ekuitas dipertahankan                    2. Debt to equity ratio is maintained equal or not
         sama atau tidak lebih dari 3,5 banding 1,0 kali.                        more than 3.5 to 1.0 times.
      3. Tanpa persetujuan tertulis terlebih dahulu dari Bank,                3. Without prior written approval from Bank, the
         Entitas, tidak diperkenankan untuk:                                     Entity is not allowed to:
         a. Melakukan kegiatan atau transaksi yang tidak                         a. Conduct any unreasonable transactions.
             wajar.
         b. Melakukan merger, konsolidasian, penyertaan                           b. Conduct merger, consolidation or purchases
             modal atau pembelian saham.                                             of shares.
         c. Mengadakan perjanjian utang kecuali dalam                             c. Enter into loan agreement except in
             kegiatan usaha.                                                         operational activities.
         d. Menjamin aset Entitas.                                                d. Pledge the Entity’s assets.

      Pada tanggal 31 Desember 2024 dan 2023, Entitas telah                   As of December 31, 2024 and 2023, the Entity has
      memenuhi persyaratan tersebut.                                          complied with these requirements.




                                                                  77
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
15.   UTANG BANK JANGKA PENDEK - Lanjutan                              15.    SHORT-TERM BANK LOANS - Continued

      PT Bank Danamon Indonesia Tbk (Danamon)                                 PT Bank Danamon Indonesia Tbk (Danamon)

      Entitas memperoleh pinjaman dari Danamon berupa                         The Entity obtained loan facilities from Danamon are as
      fasilitas sebagai berikut:                                              follows:

                         Fasilitas/                         Maksimum Kredit/                               Jatuh Tempo/
                         Facilities                         Maximum Credit                                 Maturity Date

                 Fasilitas Omnibus Trade/                                                                  23 Mei 2025/
                  Ombibus Trade Facility                          Rp 100.000                               May 23, 2025
             Fasilitas Transaksi Valuta Asing/                                                             23 Mei 2025/
          Foreign Currency Trancactions Facility                  USD 500                                  May 23, 2025

      Fasilitas pinjaman tersebut dijamin dengan piutang usaha                The loan facility was collateralized with trade
      dan persediaan milik Entitas (lihat Catatan 6                           receivables and inventories owned by the Entity
      dan 8) yang diikat Fidusia Notariil sebesar USD 20.000.                 (see Notes 6 and 8) which is bound by Notary Fiduciary
      Pinjaman ini dibebani bunga tahunan sebesar 5,8% -                      amounting to USD 20,000. This loan bears annual
      7,50% pada tanggal 31 Desember 2024 dan 2023.                           interest at 5.8% - 7.50% as of December 31, 2024 and
                                                                              2023.

      Persyaratan dalam perjanjian sehubungan dengan                          Terms of the agreement in connection with this credit
      fasilitas kredit ini meliputi pembatasan sebagai berikut:               facility include:

      1. Pemeliharaan Gearing Ratio maksimum 2,5.                              1. Maintenance of Gearing Ratio with maximum
                                                                                  of 2.5.
      2. Tanpa persetujuan tertulis terlebih dahulu dari                       2. Without prior written approval from Danamon, the
         Danamon, Entitas, tidak diperkenankan untuk:                             Entity, is not allowed to:
         a. Menjual atau mengalihkan kekayaan.                                    a. Sell or transfer its assets.
         b. Menjaminkan kekayaan Entitas.                                         b. Pledge the Entity’s assets.
         c. Mengadakan perjanjian utang kecuali dalam                             c. Enter financial obligations except in operational
            kegiatan usaha.                                                           activities.
         d. Menjamin pihak ketiga.                                                d. Bind itself as a guarantor.
         e. Memberikan pinjaman kecuali dalam kegiatan                            e. Provide loans except in operating activities.
            usaha.
         f. Merubah sifat dan kegiatan usaha.                                      f.   Change the nature and operational activity.
         g. Membubarkan Entitas.                                                   g.   Liquidate the Entity.
         h. Membayar utang pemegang saham.                                         h.   Pay the shareholders’ payables.
         i. Merubah anggaran dasar.                                                i.   Amend Entity’s articles of association

      Pada tanggal 31 Desember 2024 dan 2023, Entitas telah                   As of December 31, 2024 and 2023, the Entity has
      memenuhi persyaratan tersebut.                                          complied with these requirements.

      PT Bank Shinhan Indonesia (Shinhan)                                     PT Bank Shinhan Indonesia (Shinhan)

      Entitas memperoleh pinjaman dari Shinhan Bank berupa                    The Entity obtained loan facilities from Shinhan Bank
      fasilitas sebagai berikut:                                              are as follows:

                        Fasilitas/                         Maksimum Kredit/                                Jatuh Tempo/
                       Facilities                          Maximum Credit                                  Maturity Date

      Fasilitas Omnibus Credit                                USD 8.000                                   3 Maret 2025/March 3, 2025
      Fasilitas Forex Forward Line                             USD 500                                    3 Maret 2025/March 3, 2025




                                                                  78
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
15.   UTANG BANK JANGKA PENDEK - Lanjutan                              15.    SHORT-TERM BANK LOANS - Continued

      PT Bank Shinhan Indonesia (Shinhan) – Lanjutan                          PT Bank Shinhan Indonesia (Shinhan) – Continued

      Fasilitas pinjaman dari Shinhan ditujukan untuk                         The facilities from Shinhan are intended for the working
      pembiayaan modal kerja.                                                 capital financing.

      Fasilitas pinjaman tersebut dijamin dengan persediaan                   The loan facilities are collateralized with inventory
      milik Entitas yang diikat Fidusia Notariil sebesar                      owned by the Entity which is bound by Notary Fiduciary
      USD 9.000 (lihat Catatan 8).                                            amounting to USD 9,000 (see Note 8).

      Persyaratan dalam perjanjian sehubungan dengan                          Terms of the agreement in connection with this credit
      fasilitas kredit ini meliputi pembatasan sebagai berikut:               facility include:

      1. Pemeliharaan rasio keuangan (Current Ratio                           1. Maintenance of financial ratios (Current Ratio
         minimal 1, Gearing Ratio maksimal 3,25 dan Debt                         minimum of 1, Gearing Ratio with maximum of 3.25,
         Service Ratio minimal 1).                                               and Debt Service Ratio minimum 1).
      2. Tanpa persetujuan tertulis terlebih dahulu dari Bank                 2. Without prior written approval from Shinhan Bank,
         Shinhan, Entitas, tidak diperkenankan untuk:                            the Entity is not allowed to:
         a. Mengubah bentuk/status hukum dan/atau bidang                         a. Changing the form/legal status and/or line of
             usaha.                                                                  business.
         b. Memindah tangankan, menjual atau melepaskan                          b. Transfer the, sell or otherwise dispose of
             aset material nasabah.                                                  material assets of the Entity.
         c. Menjaminkan kekayaan ke pihak lain.                                  c. Pledge assets to other parties.
         d. Mengajukan permohonan untuk dinyatakan pailit                        d. Submit an application for bankruptcy or
             atau penundaan pembayaran atas hutang-hutang.                           postponement of payment of debts.
         e. Melakukan        investasi   pada     perusahaan-                    e. Invest in other companies or in other business
             perusahaan lain atau pada bidang usaha lainnya                          fields that may result in/have a negative impact
             yang dapat mengakibatkan/membawa dampak                                 on business management.
             negatif terhadap pengelolaan usaha.
         f. Mengalihkan fasilitas kredit kepada pihak                             f.    Transferring credit facilities to any party.
             manapun.
         g. Mengalihkan usaha kepada pihak manapun.                               g. Transferring business to any party.

      Fasilitas ini dibebani bunga tahunan sebesar 5,00% per                  This loan bears annual interest of 5,00% per annum.
      tahun.

      Pada tanggal 31 Desember 2024 dan 2023, Entitas telah                   As of December 31, 2024 and 2023, the Entity has
      memenuhi persyaratan tersebut.                                          complied with these requirements.

      PT Bank CTBC Indonesia                                                   PT Bank CTBC Indonesia

      Berdasarkan Akta Notaris Sri Wahyu Jatmikowati, S.H.,                   Based on the Deed of Notary Sri Wahyu Jatmikowati,
      MH. No 35 tanggal 17 Juni 2021, Entitas memperoleh                      S.H., MH. No. 35 dated June 17, 2021, the Entity
      fasilitas kredit dari PT Bank CTBC Indonesia sebagai                    obtained credit facilities from PT Bank CTBC Indonesia
      berikut:                                                                as follows:


                                                                                Maksimum Kredit/                   Jatuh Tempo/
                            Fasilitas/Facilities                                Maximum Credit                     Maturity Date

                                                                                                                19 Februari 2025/
       Fasilitas Omnibus Credit/Omnibus Credit Facility                                USD 5.000
                                                                                                                February 19, 2025
       Fasilitas Transaksi Valuta Asing/Foreign Exchange                                                        19 Februari 2025/
                                                                                       USD 500
       Transaction Facility                                                                                     February 19, 2025




                                                                  79
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                           PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                      ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                    STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                As of and For The Year Ended
31 Desember 2024                                                                                     December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
15.   UTANG BANK JANGKA PENDEK - Lanjutan                           15.    SHORT-TERM BANK LOANS - Continued

      PT Bank CTBC Indonesia – Lanjutan                                     PT Bank CTBC Indonesia – Continued

      Fasilitas pinjaman dari Bank CTBC ditujukan untuk                    The facilities from CTBC Bank are intended for the
      pembiayaan modal kerja.                                              working capital financing.

      Fasilitas pinjaman tersebut dijamin dengan piutang dan               The loan facilities are collateralized with trade
      persediaan milik Entitas yang diikat Fidusia Notariil                receivables and inventory owned by the Entity which is
      sebesar USD 2.750 (lihat Catatan 6 dan 8).                           bound by Notary Fiduciary amounting to
                                                                           USD 2,750 (see Notes 6 and 8).

      Fasilitas ini dibebani bunga tahunan sebesar 4 – 5,75%               This facility bears annual interest of 4 – 5.75% per
      per tahun untuk mata uang USD dan 7,5% untuk mata                    annum for USD and 7.5% for IDR.
      uang IDR.


16.   UTANG USAHA                                                   16.    TRADE PAYABLES

      Akun ini terdiri dari:                                               This account consists of:

      a. Berdasarkan pemasok                                                a. Suppliers

                                                      2024                        2023

         Pihak ketiga                                                                                                 Third parties
           Pemasok luar negeri                             271.308                   223.972                    Foreign suppliers
           Pemasok dalam negeri                             65.684                    45.305                      Local suppliers
         Sub-jumlah                                        336.992                   269.277                               Sub-total

         Pihak berelasi                                                                                            Related parties
           PT Sarana Surya Sakti                               676                         567             PT Sarana Surya Sakti
           PT Sarana Steel                                                                                       PT Sarana Steel
             Corporation                                       449                          23                    Corporation
         Sub-jumlah                                          1.125                         590                             Sub-total
         Jumlah                                            338.117                   269.867                                   Total


      b. Berdasarkan umur                                                   b. By age

                                                      2024                        2023

         Pihak ketiga:                                                                                                Third parties:
         Belum jatuh tempo                                 329.177                   193.809                             Not yet due
         Telah jatuh tempo:                                                                                               Past due :
           1 - 30 hari                                       7.419                      61.335                         1 - 30 days
           31 - 60 hari                                        248                       5.272                        31 - 60 days
           61 - 90 hari                                          -                       6.773                        61 - 90 days
           Di atas 90 hari                                     148                       2.088                       Over 90 days

         Sub-jumlah                                        336.992                   269.277                               Sub-total




                                                               80
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                           PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                      ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                    STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                As of and For The Year Ended
31 Desember 2024                                                                                     December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
16.   UTANG USAHA - Lanjutan                                        16.    TRADE PAYABLES - Continued

      b. Berdasarkan umur – Lanjutan                                        b. By age – Continued

                                                      2024                        2023

         Pihak berelasi (lihat Catatan 33)                                                             Related parties (see Note 33)
         Belum jatuh tempo                                     693                         12                            Not yet due
         Telah jatuh tempo:                                                                                               Past due :
           1 - 30 hari                                           -                        578                          1 - 30 days
           31 - 60 hari                                        432                          -                         31 - 60 days
           61 - 90 hari                                          -                          -                         61 - 90 days
           Di atas 90 hari                                       -                          -                        Over 90 days
         Sub-jumlah                                          1.125                        590                              Sub-total
         Jumlah                                            338.117                     269.867                                Total


      c. Berdasarkan mata uang                                              c. By currencies

                                                      2024                        2023

         Pihak ketiga                                                                                                 Third parties
         Pemasok luar negeri:                                                                                    Foreign suppliers:
           Dolar Amerika Serikat (Catatan 36)              269.301                     203.314    United States Dollars (Note 36)
           Lain-lain                                         2.007                      20.657                            Others
         Sub-jumlah                                        271.308                     223.971                             Sub-total
         Pemasok dalam negeri:                                                                                     Local suppliers:
           Rupiah                                            65.682                     45.257                Indonesian Rupiah
           Dolar Amerika Serikat (Catatan 36)                     2                         49    United States Dollars (Note 36)
         Sub-jumlah                                          65.684                     45.306                             Sub-total
         Pihak berelasi (lihat Catatan 33)                                                             Related parties (see Note 33)
         Rupiah                                               1.125                        590                   Indonesian Rupiah
         Jumlah                                            338.117                     269.867                                Total


         Tidak terdapat jaminan yang diberikan sehubungan                      There is no collateral provided with regards to trade
         dengan utang usaha tersebut.                                          payables.


17.   BIAYA MASIH HARUS DIBAYAR                                     17.    ACCRUED EXPENSES

      Akun ini terdiri dari:                                               This account consists of:

                                                    2024                        2023

      Ongkos angkut                                         7.348                     7.316                          Freight costs
      Utilitas                                              4.077                     3.700                                Utility
      Bunga obligasi dan sukuk                             30.173                    15.688                Bond and sukuk interest
      Jumlah                                               41.598                    26.704                                   Total




                                                               81
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
18.   LIABILITAS JANGKA PENDEK LAINNYA                                18.    OTHER CURRENT LIABILITIES

      Akun ini terdiri dari:                                                 This account consists of:

                                                     2024                         2023

      Uang jaminan pelanggan                               19.399                      14.215                       Customer deposits
      Utang lain-lain                                         543                         543                         Other payables
      Jumlah                                               19.942                      14.758                                     Total


      Utang lain-lain merupakan transaksi kurang bayar atas                  Other payables represent underpayment transactions for
      pembelian properti Samarinda. Saldo yang belum                         the purchase of Samarinda property. The unpaid balance
      dibayarkan tersebut merupakan retensi 5% dari total                    represents the retention of 5% of the total contract to the
      kontrak kepada kontraktor pembangunan Depo                             Samarinda Depot construction contractor.
      Samarinda.


19.   UTANG JANGKA PANJANG                                            19.    LONG-TERM LIABILITIES

      Akun ini terdiri dari:                                                 This account consists of:

                                                     2024                         2023

      PT Bank Central Asia Tbk                                    -                       708               PT Bank Central Asia Tbk
      Bagian yang jatuh tempo
       dalam waktu satu tahun                                     -                      (708)                         Current portion
      Bagian jangka panjang                                       -                          -                      Long-term portion
      Tingkat bunga per tahun:                                                                                Interest rate per annum:
        Rupiah                                                                7,25 - 7,75%                       Indonesian Rupiah


      Syarat dan ketentuan penting atas fasilitas pinjaman ini               Important terms and conditions of this loan facility also
      juga merujuk pada informasi yang diungkapkan pada                      refer to the information disclosed in Note 15.
      Catatan 15.

      Pinjaman ini dijamin dengan jaminan yang sama dengan                   The loan is collateralized by the same collateral as the
      fasilitas jangka pendek yang diperoleh dari bank yang                  short-term facilities obtained from the same bank
      sama (lihat Catatan 15).                                               (see Note 15).




                                                                 82
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
19.   UTANG JANGKA PANJANG - Lanjutan                                 19.    LONG-TERM LIABILITIES - Continued

      Liabilitas Sewa                                                        Lease Liabilities

      Pembayaran sewa minimal berdasarkan perjanjian sewa                    The future minimum lease payments based on finance
      pembiayaan pada tanggal 31 Desember 2024 dan 2023                      lease agreements as of December 31, 2024 and 2023 are
      adalah sebagai berikut:                                                as follows:

                                                     2024                         2023

      Mitsubishi UFJ Lease &                                                                               Mitsubishi UFJ Lease &
       Finance Indonesia                                    13.442                     29.376                  Finance Indonesia
      PT Bumiputera - BOT Finance                            6.405                      9.779         PT Bumiputera - BOT Finance
      PT BCA Finance                                         1.355                      2.501                     PT BCA Finance
      Nilai kini pembayaran                                                                                Present value of minimum
       sewa minimal                                         21.202                     41.656                       lease payments
      Bagian yang jatuh tempo
       dalam satu tahun                                 (17.791)                      (21.266)                        Current portion
      Bagian Jangka Panjang                                  3.411                     20.390                    Long - term Portion

      Pembayaran yang jatuh tempo
        pada tahun:                                                                                                 Payments due in:
      2024                                                       -                      8.790                                  2024
      2025                                                  19.401                     23.044                                  2025
      2026                                                   3.183                     14.454                                  2026
      Jumlah pembayaran                                                                                               Total minimum
        sewa minimal                                        22.584                     46.288                       lease payments
      Dikurangi beban keuangan
        masa depan                                          (1.382)                    (4.632)            Less future finance charges
      Nilai kini pembayaran sewa                                                                           Present value of minimum
       minimal                                              21.202                     41.656                       lease payments
      Bagian yang jatuh tempo
       dalam satu tahun                                    (17.791)                   (21.266)                        Current portion
      Bagian Jangka Panjang                                 3.411                      20.390                    Long - term Portion

      Beban bunga yang timbul atas liabilitas sewa sebesar                   The interest expense incurred on the lease liability is
      Rp 3.380 dan Rp 5.332 untuk tahun yang berakhir                        Rp 3,380 and Rp 5,332 for the year ended December 31,
      31 Desember 2024 dan 2023 (lihat Catatan 31).                          2024 and 2023 (see Note 31).

      Mitsubishi UFJ Lease & Finance Indonesia                               Mitsubishi UFJ Lease & Finance Indonesia

      Pada tanggal 8 Maret 2021, Entitas memperoleh fasilitas                On March 8, 2021, the Entity obtained a sale and
      jual dan sewa balik dari PT Mitsubishi UFJ Lease &                     leaseback facility from PT Mitsubishi UFJ Lease &
      Finance Indonesia atas peralatan dan mesin dengan nilai                Finance Indonesia for equipment and machinery with a
      pembiayaan sebesar Rp 26.593 dengan jangka waktu 48                    financing value of Rp 26,593 with a period of 48 months
      bulan (4 tahun). Tingkat suku bunga yang berlaku adalah                (4 years). The prevailing interest rate is 10.50%.
      10,50%.

      Pada tanggal 28 September 2022, Entitas memperoleh                     On September 28, 2022, the Entity obtained a sale and
      kembali fasilitas jual dan sewa balik dari PT Mitsubishi               leaseback facility from PT Mitsubishi UFJ Lease &
      UFJ Lease & Finance Indonesia atas peralatan dan mesin                 Finance Indonesia for equipment and machinery with a
      dengan nilai pembiayaan sebesar Rp 25.908 dengan                       financing value of Rp 25,908 with a period of 36 months
      jangka waktu 36 bulan (3 tahun). Tingkat suku bunga                    (3 years). The prevailing interest rate is 9.80%.
      yang berlaku adalah 9,80%.



                                                                 83
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
19.   UTANG JANGKA PANJANG - Lanjutan                                  19.    LONG-TERM LIABILITIES - Continued

      Liabilitas Sewa - Lanjutan                                              Lease Liabilities – Continued

      PT BCA Finance                                                          PT BCA Finance

      Entitas memperoleh fasilitas dari PT BCA Finance                        The Entity obtained facility from PT BCA Finance
      dengan sebesar Rp 4.387 dengan jangka 4 tahun.                          amounting to Rp 4,387 with a term of 4 years.
      Pinjaman ini dibebani bunga antara 4,99 % - 6,00%                       The above loan bears interest at the annual rate between
      per tahun.                                                              of 4.99% - 6.00% per annum.

      PT Bumiputera-BOT Finance                                               PT Bumiputera-BOT Finance

      Pada tanggal 18 Mei 2022, Entitas memperoleh fasilitas                  As of May 18, 2022, the Entity obtained a financing
      pembiayaan dari PT Bumiputera-Bot Finance sebesar                       facility from PT Bumiputera-Bot Finance amounting to
      Rp 13.797 dengan jangka waktu 4 tahun. Pinjaman ini                     Rp 13,797 with a term of 4 years. The above loan bears
      dibebani bunga sebesar 9,75% per tahun.                                 interest at 9.75% per annum.

      Selisih antara harga jual dan nilai buku aset yang dijual               The difference between selling price and net book value
      diakui dan dicatat sebagai keuntungan ditangguhkan atas                 was recorded as deferred gain on sale and leaseback and
      transaksi sewa dan jual balik dan diamortisasi selama                   amortized proportionately over the lease period. The
      periode sewa. Pada tanggal 31 Desember 2024 dan 2023                    balance of deferred gain (loss) on sale and leaseback-net
      besarnya keuntungan (kerugian) ditangguhkan atas                        as of December 31, 2024 and 2023 amounting to
      transaksi jual dan sewa balik masing-masing adalah                      Rp nil and (Rp 3,853), respectively.
      sebesar Rp nihil dan (Rp 3.853).


20.   UTANG OBLIGASI                                                   20.    BONDS PAYABLE

                                                      2024                         2023

      Obligasi Dengan Bunga                                                                                            Bond With Fixed
       Tetap Tahap 1.1                                                                                        Interest Rate Phase 1.1
          Seri B                                                  -                     49.000                             B Series
      Obligasi Dengan Bunga                                                                                            Bond With Fixed
       Tetap Tahap 1.2                                                                                        Interest Rate Phase 1.2
          Seri B                                         135.000                      135.000                              B Series
      Jumlah                                             135.000                      184.000                                    Total
      Obligasi Dengan Bunga                                                                                            Bond With Fixed
       Tetap Tahap 2.1                                                                                        Interest Rate Phase 2.1
          Seri A                                               -                       37.900                              A Series
          Seri B                                         211.300                      211.300                              B Series
          Seri C                                             800                          800                              C Series
      Obligasi Dengan Bunga                                                                                            Bond With Fixed
       Tetap Tahap 2.2                                                                                        Interest Rate Phase 2.2
          Seri A                                                  -                   110.350                              A Series
      Jumlah                                             212.100                      360.350                                    Total




                                                                  84
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                            PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                       ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                     STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                 As of and For The Year Ended
31 Desember 2024                                                                                      December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
20.   UTANG OBLIGASI – Lanjutan                                      20.    BONDS PAYABLE – Continued

                                                    2024                         2023
      Obligasi SLB Dengan Bunga                                                                                Bond SLB With Fixed
       Tetap Tahap 1                                                                                         Interest Rate Phase 1
          Seri A                                        33.780                              -                           A Series
          Seri B                                       766.220                              -                           B Series
          Seri C                                       200.000                              -                           C Series
      Jumlah                                         1.000.000                              -                                  Total

      Dikurangi bagian yang jatuh
       tempo dalam satu tahun                         (135.000)                    (197.250)                 Less current maturities
      Bagian jangka panjang                          1.212.100                      347.100                             Non-current


      Pada tanggal 26 November 2021, Entitas telah                          On November 26, 2021, the Entity obtained an effective
      memperoleh pernyataan efektif dari Ketua Otoritas Jasa                notice from the Chairman of Financial Services
      Keuangan untuk melakukan Penawaran Umum                               Authority to offer Sustainable Public Offering of
      Berkelanjutan Obligasi Berkelanjutan I SPINDO Tahap                   Sustainable Bonds I SPINDO Phase I 2021 amounting
      I Tahun 2021 sebesar Rp 150.000 dengan tingkat bunga                  Rp 150,000 with Fixed Interest Rate consisting of
      tetap yang terdiri dari 2 seri, yaitu seri A yang jatuh               2 series, series A due on December 9, 2022 (367 calender
      tempo pada 9 Desember 2022 (367 hari kalender) dengan                 days) with an interest rate of 8.175% per annum and
      tingkat bunga 8,175% per tahun dan seri B yang jatuh                  series B due on December 02, 2024 (3 years) with an
      tempo pada 02 Desember 2024 (3 tahun) dengan tingkat                  interest rate of 9.5% per annum.
      bunga 9,5% per tahun.

      Bunga Obligasi Tahap I dibayarkan setiap triwulan,                    Bond interest Phase I is paid quarterly, where the first
      dimana bunga Obligasi pertama akan dibayarkan pada                    Bond interest will be paid on March 02, 2022, while the
      tanggal 02 Maret 2022, sedangkan bunga Obligasi                       last Bond interest as well as Bond redemption will be
      terakhir sekaligus pelunasan Obligasi akan dibayarkan                 paid on December 09, 2022 for Series A Bonds and
      pada tanggal 09 Desember 2022 untuk Obligasi Seri A                   December 02, 2024 for Series B Bonds. Bond series will
      dan tanggal 02 Desember 2024 untuk Obligasi Seri B.                   be made in full (bullet payment) at maturity.
      Pelunasan masing-masing seri Obligasi akan dilakukan
      secara penuh (bullet payment) pada saat jatuh tempo.

      Pada tahun 2021, PT Pemeringkat Efek Indonesia                        In 2021, PT Pemeringkat Efek Indonesia (Pefindo),
      (Pefindo), agen pemeringkat efek di Indonesia,                        rating agencies securities in Indonesia, provides rank
      memberikan peringkat idA- (Single A Minus) atas                       idA- (Single A Minus) on the bonds.
      obligasi tersebut.

      Pada tanggal 28 Juli 2022, Entitas menerbitkan Obligasi               On July 28, 2022, the Entity issued Bond namely
      dengan nama Obligasi Berkelanjutan I Spindo Tahap II                  Sustainable Bond I Spindo Phase II Year 2022
      Tahun 2022 sebesar Rp 150.000 dengan tingkat bunga                    amounting to Rp 150,000 with a fixed interest rate
      tetap yang terdiri dari 2 seri, yaitu seri A yang jatuh               consisting of 2 series, namely series A due on August 3,
      tempo pada 03 Agustus 2023 (367 hari kalender) dengan                 2023 (367 calendar days) with interest rate 7.5% per
      tingkat bunga 7,5% per tahun dan seri B yang jatuh                    annum and series B due on July 27, 2025 (3 years) with
      tempo pada 27 Juli 2025 (3 tahun) dengan tingkat bunga                an interest rate of 9.50% per annum.
      9,50% per tahun.

      Pada 2 Agustus 2023 telah dilakukan pembayaran pokok                  On August 2, 2023, the principal payment for Bonds I
      utang Obligasi I Tahap II Seri A sebesar Rp 15.000.                   Phase II Series A amounting to Rp 15,000 was made.

      Pada tanggal 15 November 2022, PT Pemeringkat Efek                    On November 15, 2022, PT Pemeringkat Efek Indonesia
      Indonesia (Pefindo) memberikan peringkat idA- (Single                 (Pefindo) assigned an idA- (Single A Minus) rating for
      A Minus) untuk Obligasi Berkelanjutan II Spindo Tahun                 Sustainable Bond II Spindo Year 2023.
      2023.




                                                                85
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
20.   UTANG OBLIGASI – Lanjutan                                        20.    BONDS PAYABLE – Continued

      Pada 9 Desember 2022 telah dilakukan pembayaran                         On December 9, 2022, on the principal the Phase I Bond
      pokok utang Obligasi Tahap I Seri A sebesar Rp 101.000.                 Series A payment was made in the amount of Rp 101,000.

      Pada 29 Maret 2023, Entitas memperoleh pernyataan pra                   On March 29, 2023, the Entity obtained an pre effective
      efektif dari Otoritas Jasa Keuangan (OJK) dengan                        statement from the Financial Services Authority (OJK)
      suratnya No. S-82/D.04/2023 untuk melakukan                             with its letter No. S-82/D.04/2023 to conduct a Public
      Penawaran Umum Berkelanjutan Obligasi Berkelanjutan                     Offering of Sustainable Bonds SPINDO Phase I Year
      II SPINDO Tahap I Tahun 2023 dengan jumlah pokok                        2023 with a maximum principal amount of Rp 250,000,
      sebesar Rp 250.000, yang diterbitkan dalam beberapa                     which was issued in series as follows:
      seri sebagai berikut:

      Obligasi II Tahap I:                                                    Bond II Phase I:

                                           Tingkat bunga
                                           tetap tahunan/
                       Nilai nominal/       Annual fixed            Jatuh tempo/                      Status/
                      Nominal amount         interest rate            Maturity                        Status
      Seri                                                                                                                       Series
        Seri A          Rp       37.900              7,75%        11 April/April 2024           Lunas/Paid off               Series A
        Seri B          Rp      211.300              9,50%        04 April/April 2026       Belum lunas/Outstanding          Series B
        Seri C          Rp          800             10,00%        04 April/April 2028       Belum lunas/Outstanding          Series C
                        Rp      250.000


      PT Pemeringkat Efek Indonesia (Pefindo), agen                           PT Pemeringkat Efek Indonesia (Pefindo), rating
      pemeringkat efek di Indonesia, memberikan peringkat                     agencies securities in Indonesia, provides rank idA-
      idA- (Single A Minus) untuk obligasi dan idA-(sy) (Single               (Single A Minus) for bonds and idA-(sy) (Single A Minus
      A Minus Syariah) untuk sukuk ijarah.                                    Syariah) for sukuk ijarah.

      Seluruh dana yang yang diperoleh dari hasil Penawaran                   All funds obtained from the Bonds Public Offering after
      Umum Obligasi setelah dikurangi dengan biaya-biaya                      deducting the related issuance costs, will be used for the
      emisi terkait, seluruhnya akan digunakan untuk                          payment of a portion of the Entity's loan in Rupiah with
      pembayaran sebagian pinjaman Entitas dalam mata uang                    the following details:
      Rupiah dengan rincian sebagai berikut:
      1. Sebesar-besarnya Rp 130.000 akan digunakan untuk                     1. A maximum of Rp 130,000 will be used to pay part of
          membayar sebagian utang Entitas kepada PT Bank                         the Entity's debt to PT Bank ICBC Indonesia.
          ICBC Indonesia.
      2. Sebesar-besarnya Rp 70.000 akan digunakan untuk                      2. A maximum of Rp 70,000 will be used to pay part of
          membayar sebagian utang Entitas kepada PT Bank                         the Entity's debt to PT Bank Danamon Indonesia,
          Danamon Indonesia, Tbk.                                                Tbk.
      3. Sebesar-besarnya Rp 50.000 akan digunakan untuk                      3. A maximum of Rp 50,000 will be used to pay part of
          membayar sebagian utang Entitas kepada PT Bank                         the Entity's debt to PT Bank Central Asia, Tbk.
          Central Asia, Tbk.

      Seluruh dana yang diperoleh dari hasil Penawaran                        All funds obtained from the Public Offering of Sukuk
      Umum Sukuk Ijarah setelah dikurangi dengan biaya-                       Ijarah after deducting the related issuance costs, will be
      biaya emisi terkait, seluruhnya akan digunakan untuk                    used entirely for the Entity's working capital, namely the
      modal kerja Entitas yaitu pembelian bahan baku sesuai                   purchase of raw materials according to the needs of the
      dengan kebutuhan Entitas yaitu bahan hot-rolled carbon                  Entity, namely hot-rolled carbon steel coils (HRC) and
      steel coils (HRC) dan cold-rolled carbon steel coils                    cold-rolled carbon steel coils (CRC).
      (CRC).

      Pada tanggal 04 April 2023, Seluruh dana tersebut sudah                 On April 04, 2023, all of these funds have been received
      diterima oleh Entitas.                                                  by the Entity.




                                                                  86
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                            PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                       ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                     STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                 As of and For The Year Ended
31 Desember 2024                                                                                      December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
20.   UTANG OBLIGASI – Lanjutan                                      20.    BONDS PAYABLE – Continued

      Pada tanggal 04 Agustus 2023, Entitas menerbitkan                     On August 04, 2023, the Entity issued Bond namely
      Obligasi dengan nama Obligasi Berkelanjutan II Spindo                 Sustainable Bond II Spindo Phase II Year 2023
      Tahap II Tahun 2023 sebesar Rp 110.350 dengan tingkat                 amounting to Rp 110,350 with a fixed interest rate
      bunga tetap yang terdiri dari 1 seri, yaitu seri A yang               consisting of 1 series, namely series A due on August 15,
      jatuh tempo pada 15 Agustus 2024 (367 hari kalender)                  2024 (367 calendar days) with interest rate 7.0% per
      dengan tingkat bunga 7,0% per tahun.                                  annum.

      Pada 5 April 2024 telah dilakukan pembayaran pokok                    On April 5, 2024, the principal payment for Bonds II
      utang Obligasi II Tahap I Seri A sebesar Rp 37.900.                   Phase I Series A amounting to Rp 37,900 was made.

      Pada 14 Agustus 2024 telah dilakukan pembayaran                       On August 14, 2024, the principal payment for Bonds II
      pokok utang Obligasi II Tahap II Seri A sebesar                       Phase II Series A amounting to Rp 110,350 was made.
      Rp 110.350.

      Pada 22 Maret 2024, PT Pemeringkat Efek Indonesia                     On March 22, 2024, PT Pemeringkat Efek Indonesia
      (Pefindo) memberikan peringkat idAAA(cg) (Triple A;                   (Pefindo) gave a rating of idAAA(cg) (Triple A;
      Corporate Guarantee) untuk Obligasi Terkait                           Corporate Guarantee) for the Sustainable Related Bonds
      Berkelanjutan I Tahun 2024 berdasarkan surat keputusan                I Year 2024 based on decision letter No RC-325/PEF-
      No RC-325/PEF-DIR/III/2024.                                           DIR/III/2024.

      Pada 28 Juni 2024, Entitas memperoleh pernyataan                      On June 28, 2024, the Entity obtained an effective
      efektif dari Otoritas Jasa Keuangan (OJK) dengan                      statement from the Financial Services Authority (OJK)
      suratnya No. S-95/D.04/2024 untuk melakukan                           with its letter No. S-95/D.04/2024 to conduct a Public
      Penawaran Umum Berkelanjutan Obligasi Berkelanjutan                   Offering of Sustainable Bonds SPINDO I Year 2024 with
      I SPINDO Tahun 2024 dengan jumlah pokok sebesar                       a maximum principal amount of Rp 1,000,000, which
      Rp 1.000.000, yang diterbitkan dalam beberapa seri                    was issued in series as follows:
      sebagai berikut:

      Obligasi Terkait Berkelanjutan I 2024:                                Sustainable Related Bond I, 2024:

                                          Tingkat bunga
                                          tetap tahunan/
                       Nilai nominal/      Annual fixed              Jatuh tempo/                   Status/
                      Nominal amount        interest rate              Maturity                     Status
      Seri                                                                                                                      Series
        Seri A         Rp        33.780             7,00%       3 Tahun/ 3 Years           Belum lunas/Outstanding          Series A
        Seri B         Rp       766.220             7,35%       5 Tahun/ 5 Years           Belum lunas/Outstanding          Series B
        Seri C         Rp       200.000             7,35%       7 Tahun/ 7 Years           Belum lunas/Outstanding          Series C
                       Rp     1.000.000


      Seluruh dana yang yang diperoleh dari hasil Penawaran                 All funds obtained from the Bonds Public Offering after
      Umum Obligasi setelah dikurangi dengan biaya-biaya                    deducting the related issuance costs, will be used for the
      emisi terkait, seluruhnya akan digunakan untuk                        payment of a portion of the Entity's loan in Rupiah with
      pembayaran sebagian pinjaman Entitas dalam mata uang                  the following details:
      Rupiah dengan rincian sebagai berikut:
      1. Sekitar Rp 93.000 untuk pembangunan bangunan                       1.   Approximately IDR 93,000 for the construction of a
           Gudang unit 7 diatas bidang tanah dengan Hak                          warehouse building for unit 7 on a plot of land with
           Guna Bangunan milik Perseroan di Gresik, Jawa                         building use rights belonging to the Company in
           Timur (Tahap A), dan pembangunan Infrastruktur                        Gresik, East Java (Phase A), and construction of
           dan Sarana penunjang unit 7 berupa Pembangunan                        infrastructure and supporting facilities for unit 7 in
           Gedung Kantor Sementara, Gudang Tambahan,                             the form of construction of a temporary office
           Gedung Infrastruktur dan Gedung Lainnya sesuai                        building, additional warehouse, infrastructure
           dengan kebutuhan (Tahap B) dimana pembangunan                         building and Other Buildings according to needs
           keduanya berada di lokasi yang sama;                                  (Phase B) where both developments are in the same
                                                                                 location;




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
20.   UTANG OBLIGASI – Lanjutan                                       20.    BONDS PAYABLE – Continued

      2.   Sekitar Rp 107.000 untuk belanja modal                            2.   Approximately IDR 107,000 for capital expenditure
           pemeliharaan seluruh unit produksi Perseroan yang                      for maintenance of all of the Company's existing
           telah ada yaitu Unit 1,2,3,4,5 dan 6 berupa                            production units, namely Units 1, 2, 3, 4, 5 and 6 in
           Pemeliharaan Berkala dengan jadwal pemeliharaan                        the form of Periodic Maintenance with a monthly
           secara bulanan, Perbaikan Langsung, Pemeliharaan                       maintenance schedule, Direct Repairs, Predictive
           Prediktif, dan Perbaikan Peningkatan Mutu Mesin;                       Maintenance and Machine Quality Improvement
                                                                                  Repairs;
      3.   Sekitar Rp 600.000 untuk pelunasan seluruh pokok                  3.   Approximately IDR 600,000 for repayment of the
           terutang obligasi dan/atau sukuk dan pelunasan                         entire outstanding principal of bonds and/or sukuk
           Sebagian terutang fasilitas modal kerja                                and partial repayment of outstanding working
                                                                                  capital facilities
      4.   Sisanya akan digunakan untuk modal kerja jangka                   4.   The remainder will be used for existing long-term
           Panjang yang telah ada yaitu pembelian bahan baku                      working capital, namely purchasing raw materials
           sesuai dengan kebutuhan Perseroan yaitu bahan                          according to the Company's needs, namely
           hotrolled carbon steel coils (HRC) dan cold-rolled                     hotrolled carbon steel coils (HRC) and cold-rolled
           carbon steel coils (CRC)                                               carbon steel coils (CRC)

      Pada tanggal 09 Juli 2024, Seluruh dana tersebut sudah                 On July 09, 2024 all of these funds have been received
      diterima oleh Entitas.                                                 by the Entity.


21.   UTANG SUKUK IJARAH                                              21.    SUKUK IJARAH PAYABLE

                                                    2024                          2023
      Nilai nominal - Tahap 1.1                                                                            Nominal value - Phase 1.1
       Seri B                                                    -                     51.000                             B Series
      Nilai nominal - Tahap 1.2                                                                            Nominal value - Phase 1.2
       Seri B                                              50.000                      50.000                             B Series
      Jumlah                                               50.000                    101.000                                     Total
      Nilai nominal - Tahap 2.1                                                                            Nominal value - Phase 2.1
       Seri A                                                -                         3.000                              A Series
       Seri B                                          141.100                       141.100                              B Series
       Seri C                                           10.900                        10.900                              C Series
      Nilai nominal - Tahap 2.2                                                                            Nominal value - Phase 2.2
       Seri A                                                    -                     59.650                             A Series
      Jumlah                                           152.000                       214.650                                     Total
      Dikurangi bagian yang jatuh
       tempo dalam satu tahun                              (50.000)                 (113.650)                 Less current maturities
      Bagian jangka panjang                            152.000                       202.000                              Non-current


      Entitas melakukan Penawaran Umum Berkelanjutan                         The Entity offer Sustainable Public Offering of
      Sukuk Ijarah Berkelanjutan I SPINDO Tahap I Tahun                      Sustainable Sukuk Ijarah I SPINDO Phase I 2021
      2021 sebesar Rp 150.000 yang terdiri dari 2 seri, yaitu                amounting Rp 150,000 consisting 2 series, series A due
      seri A yang jatuh tempo pada 09 Desember 2022                          on December 09, 2022 (367 calender days) with
      (367 hari kalender) dengan Cicilan Imbalan Ijarah                      Installment Ijarah amounting Rp 8,093,250,000 (full
      sebesar Rp 8.093.250.000 (dalam rupiah penuh) per                      amount) per annum and series B due on
      tahun dan seri B yang jatuh tempo pada                                 December 02, 2024 (3 years) with Installment Ijarah
      02 Desember 2024 (3 tahun) dengan Cicilan Imbalan                      amounting Rp 4,845,000,000 (full amount) per annum.
      Ijarah sebesar Rp 4.845.000.000 (dalam rupiah penuh)
      per tahun.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                           PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                      ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                    STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                As of and For The Year Ended
31 Desember 2024                                                                                     December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
21.   UTANG SUKUK IJARAH – Lanjutan                                 21.    SUKUK IJARAH PAYABLE – Continued

      Sukuk Ijarah ini diterbitkan tanpa warkat, kecuali                   This Sukuk Ijarah is issued scripless, except for the
      Sertifikat Jumbo Sukuk Ijarah yang diterbitkan untuk                 Jumbo Sukuk Ijarah Certificate issued to be registered in
      didaftarkan atas nama KSEI ditawarkan dengan nilai                   the name of KSEI which is offered at 100% of the
      100% dari nilai nominal dan tercatat di Bursa Efek                   nominal value and listed on the Indonesia Stock
      Indonesia.                                                           Exchange.

      Cicilan Imbalan Ijarah dibayarkan setiap triwulan,                   Installment Ijarah is paid quarterly, where the first
      dimana Cicilan Imbalan Ijarah pertama akan dibayarkan                Installment Ijarah will be paid on March 02, 2022, while
      pada tanggal 02 Maret 2022, sedangkan Cicilan Imbalan                the last Installment Ijarah as well as the remaining
      Ijarah terakhir sekaligus tanggal pembayaran kembali                 Installment Ijarah repayment date will be paid on
      sisa Imbalan Ijarah akan dibayarkan pada tanggal                     December 09, 2022 for Series A Sukuk Ijarah and
      09 Desember 2022 untuk Sukuk Ijarah seri A dan tanggal               December 02, 2024 for Sukuk Ijarah series B. Repayment
      02 Desember 2024 untuk Sukuk Ijarah seri B.                          of the remaining Ijarah Returns for each series of Sukuk
      Pembayaran kembali sisa Imbalan Ijarah masing-masing                 Ijarah will be made in full (bullet payment) at maturity.
      seri Sukuk Ijarah akan dilakukan secara penuh (bullet
      payment) pada saat jatuh tempo.

      Pada tahun 2021, PT Pemeringkat Efek Indonesia                       In 2021, PT Pemeringkat Efek Indonesia (Pefindo),
      (Pefindo), agen pemeringkat efek di Indonesia,                       rating agencies securities in Indonesia, provides rank id
      memberikan peringkat id A-(sy) (Single A Minus                       A-(sy) (Single A Minus Syariah) on the Sukuk Ijarah.
      Syariah) atas Sukuk Ijarah tersebut.

      Pada tanggal 28 Juli 2022, Entitas menerbitkan Sukuk                 On July 28, 2022, the Entity issued Sukuk Ijarah namely
      Ijarah dengan nama Sukuk Ijarah Berkelanjutan I Spindo               Sustainable Sukuk Ijarah I Spindo Phase II Year 2022
      Tahap II Tahun 2022 sebesar Rp 150.000 yang terdiri                  amounting to Rp 150,000 consisting 2 series, series A
      dari 2 seri, yaitu seri A yang jatuh tempo pada                      due on August 03, 2023 (367 calender days) with
      03 Agustus 2023 (367 hari kalender) dengan Cicilan                   Installment Ijarah amounting Rp 7,500,000,000 (full
      Imbalan Ijarah sebesar Rp 7.500.000.000 (dalam rupiah                amount) per annum and series B due on July 27, 2025
      penuh) per tahun dan seri B yang jatuh tempo pada                    (3 years) with Installment Ijarah amounting
      27 Juli 2025 (3 tahun) dengan Cicilan Imbalan Ijarah                 Rp 4,750,000,000 (full amount) per annum.
      sebesar Rp 4.750.000.000 (dalam rupiah penuh) per
      tahun.

      Pada tanggal 15 November 2022, PT Pemeringkat Efek                   On November 15, 2022, PT Pemeringkat Efek Indonesia
      Indonesia (Pefindo) memberikan peringkat idA-(sy)                    (Pefindo) assigned an idA-(sy) (Single A Minus Syariah)
      (Single A Minus Syariah) untuk Sukuk Ijarah                          rating for Sustainable Sukuk Ijarah II Spindo Year 2023.
      Berkelanjutan II Spindo Tahun 2023.

      Pada 9 Desember 2022 telah dilakukan pembayaran                      On December 9, 2022, the Phase I Series A Installment
      Imbalan Ijarah Tahap I Seri A sebesar Rp 99.000.                     Ijarah payment was made in the amount of Rp 99,000.

      Pada 29 Maret 2023, Entitas memperoleh pernyataan pra                On March 29, 2023, the Entity obtained an pre effective
      efektif dari Otoritas Jasa Keuangan (OJK) dengan                     statement from the Financial Services Authority (OJK)
      suratnya No. S-82/D.04/2023 untuk melakukan                          with its letter No. S-82/D.04/2023 to conduct a Public
      Penawaran Umum Berkelanjutan Sukuk Ijarah                            Offering of Sustainable Sukuk Ijarah II SPINDO Phase I
      Berkelanjutan II SPINDO Tahap I Tahun 2023 dengan                    Year 2023 with a maximum principal amount and
      jumlah pokok dan sisa imbalan Ijarah sebesar                         remaining Ijarah of Rp 155,000, which was issued in
      Rp 155.000, yang diterbitkan dalam beberapa seri                     series as follows:
      sebagai berikut:




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
21.   UTANG SUKUK IJARAH – Lanjutan                                    21.    SUKUK IJARAH PAYABLE – Continued

      Sukuk Ijarah II Tahap I:                                                Sukuk Ijarah II Phase I:

                                             Imbalan tetap
                                            Ijarah tahunan/
                       Nilai nominal/         Annual fixed             Jatuh tempo/                   Status/
                      Nominal amount          Ijarah return              Maturity                     Status
      Seri                                                                                                                        Series
        Seri A          Rp         3.000     Rp         233       11 April/April 2024            Lunas/Paid off               Series A
        Seri B          Rp       141.100     Rp      13.405       04 April/April 2026        Belum lunas/Outstanding          Series B
        Seri C          Rp        10.900     Rp       1.090       04 April/April 2028        Belum lunas/Outstanding          Series C
                        Rp       155.000

      PT Pemeringkat Efek Indonesia (Pefindo), agen                           PT Pemeringkat Efek Indonesia (Pefindo), rating
      pemeringkat efek di Indonesia, memberikan peringkat                     agencies securities in Indonesia, provides rank idA-
      idA- (Single A Minus) untuk obligasi dan idA-(sy) (Single               (Single A Minus) for bonds and idA-(sy) (Single A Minus
      A Minus Syariah) untuk sukuk ijarah.                                    Syariah) for sukuk ijarah.

      Seluruh dana yang diperoleh dari hasil Penawaran                        All funds obtained from the Public Offering of Sukuk
      Umum Sukuk Ijarah setelah dikurangi dengan biaya-                       Ijarah after deducting the related issuance costs, will be
      biaya emisi terkait, seluruhnya akan digunakan untuk                    used entirely for the Entity's working capital, namely the
      modal kerja Entitas yaitu pembelian bahan baku sesuai                   purchase of raw materials according to the needs of the
      dengan kebutuhan Entitas yaitu bahan hot-rolled carbon                  Entity, namely hot-rolled carbon steel coils (HRC) and
      steel coils (HRC) dan cold-rolled carbon steel coils                    cold-rolled carbon steel coils (CRC).
      (CRC).

      Pada tanggal 04 April 2023, seluruh dana tersebut sudah                 On April 04, 2023, all of these funds have been received
      diterima oleh Entitas.                                                  by the Entity.

      Pada tanggal 08 Agutus 2023, Entitas menerbitkan                        On August 08, 2023, the Entity issued Sukuk Ijarah
      Sukuk Ijarah dengan nama Sukuk Ijarah Berkelanjutan II                  namely Sustainable Sukuk Ijarah II Spindo Phase II Year
      Spindo Tahap II Tahun 2022 sebesar Rp 59.650 yang                       2022 amounting to Rp 59,650 consisting 1 series, series
      terdiri dari 1 seri, yaitu seri A yang jatuh tempo pada                 A due on August 15, 2024 (367 calender days) with
      15 Agustus 2024 (367 hari kalender) dengan Cicilan                      Installment Ijarah amounting Rp 4,175,500,000 (full
      Imbalan Ijarah sebesar Rp 4.175.500.000 (dalam rupiah                   amount) per annum.
      penuh) per tahun.

      Pada 2 Agustus 2023 telah dilakukan pembayaran                          On August 2, 2023, Ijarah I Phase II Series A payment
      Imbalan Ijarah Tahap II Seri A sebesar Rp 100.000.                      was made in the amount of Rp 100,000.

      Pada 5 April 2024 telah dilakukan pembayaran Imbalan                    On April 5, 2024, Ijarah II Phase I Series A payment was
      Ijarah II Tahap I Seri A sebesar Rp 3.000. Pada 14                      made in the amount of Rp 3,000. On August 14, 2024,
      Agustus 2024 telah dilakukan pembayaran Imbalan                         Ijarah II Phase II Series A payment was made in the
      Ijarah II Tahap II Seri A sebesar Rp 59.650.                            amount of Rp 59,650.


22.   LIABILITAS       DIESTIMASI          ATAS   IMBALAN              22.    ESTIMATED         LIABILITIES       FOR     EMPLOYEE
      KERJA                                                                   BENEFITS

      Sampai dengan 31 Desember 2024, perhitungan imbalan                     As of December 31, 2024, the calculation of the Entity's
      pasca kerja Entitas telah mengikuti UU Cipta Kerja                      post-employment benefits has followed the Job Creation
      untuk golongan manajemen sedangkan non-manajemen                        Act for the management group while non-management
      masih menerapkan PKB dengan serikat pekerja sampai                      still applies the CLA with the union until the end of 2025.
      dengan akhir tahun 2025. Untuk sebagian karyawan,                       For some of its employees, the defined benefit plan is
      program ini didanai oleh Entitas melalui pembayaran                     funded through insurance premiums paid to PT Sun Life
      premi asuransi kepada PT Sun Life Financial Indonesia                   Financial Indonesia and PT AXA Financial Indonesia.
      dan PT AXA Financial Indonesia. Jumlah karyawan                         Number of employees entitled to the benefits is 872 and
      yang berhak atas imbalan tersebut adalah 872 dan 902                    902 as of December 31, 2024 and 2023.
      pada tanggal 31 Desember 2024 dan 2023.


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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                            PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                       ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                     STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                 As of and For The Year Ended
31 Desember 2024                                                                                      December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
22.   LIABILITAS DIESTIMASI                ATAS   IMBALAN            22.    ESTIMATED LIABILITIES              FOR     EMPLOYEE
      KERJA – Lanjutan                                                      BENEFITS – Continued

      Saldo liabilitas diestimasi atas imbalan kerja                        The balance of estimated liabilities for employee benefits
      pada 31 Desember 2024 dan 2023 dihitung oleh                          as of December 31, 2024 and 2023 is calculated by
      PT Sienco Aktuarindo Utama, aktuaris independen                       PT Sienco Aktuarindo Utama, independent actuary
      dengan nomor 030/LA-IK/KKAICS/II-2025 tanggal                         number 030/LA-IK/KKAICS/II-2025 dated February 21,
      21 Februari 2025. Asumsi - asumsi aktuaria yang                       2025. Actuarial assumptions used to determine post-
      digunakan untuk menghitung beban dan liabilitas                       employment benefit expenses and liabilities are as
      imbalan paska kerja adalah sebagai berikut:                           follows:

                                                           31 Desember 2024/
                                                           December 31, 2024

      Usia pensiun                                          55 tahun/year                                           Retirement age
      Tingkat kenaikan gaji                          5% per tahun/ per annum                                  Salary increment rate
      Tingkat diskonto                                          7,12%                                                 Discount rate
                                                   Table of Mortality of Indonesia
      Tingkat mortalitas                                   (TMI-IV) 2019                                              Mortality rate

      a. Beban imbalan kerja yang diakui di laporan laba rugi                 a. Amounts recognized as expense in the consolidated
         dan penghasilan komprehensif lain konsolidasian                         statement of profit or loss and other comprehensive
         adalah sebagai berikut:                                                 income in respect of these employee benefits are as
                                                                                 follows:

                                                      2024                         2023

         Beban jasa kini                                     6.482                        6.576                 Current service cost
         Beban bunga                                         5.218                        8.037                         Interest cost
         Penyisihan kelebihan                                                                                 Provision for excess of
          pembayaran manfaat                                 1.355                         927                        benefit paid
         Beban jasa lalu                                     3.784                     (10.915)                     Past service cost
         Jumlah                                             16.839                        4.625                                  Total


      b. Liabilitas diestimasi atas imbalan kerja di laporan                b. The estimated liabilities for employee benefits in the
         posisi keuangan konsolidasian adalah sebagai                          consolidated statement of financial position are as
         berikut:                                                              follows:

                                                      2024                         2023

         Nilai kini liabilitas                                                                                Present value deferred
           imbalan pasti                                    89.169                      91.026                  benefit obligation
         Saldo polis asuransi jiwa                                                                     Balance of the life insurance
           (Unit Link)                                      (1.685)                     (4.267)                 policy (Unit Link)
         Nilai kini liabilitas imbalan pasti                                                        Present value of deferred benefit
           setelah diperbandingkan                          87.484                      86.759        obligation after comparison
         Jumlah Liabilitas                                  87.484                      86.759                         Total Liability




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                          PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                     ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                   STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                               As of and For The Year Ended
31 Desember 2024                                                                                    December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in Millions of Rupiah, unless otherwise stated)
22.   LIABILITAS DIESTIMASI             ATAS     IMBALAN          22.    ESTIMATED LIABILITIES              FOR      EMPLOYEE
      KERJA – Lanjutan                                                   BENEFITS – Continued

      c. Analisis liabilitas diestimasi atas imbalan kerja               c. Analysis of estimated liabilities for employee benefits
         adalah sebagai berikut:                                            is as follows:

                                                      2024                      2023

         Saldo awal tahun                                  86.759                    114.793                Beginning of the year
         Beban periode berjalan                            13.055                     15.541             Current period expenses
         Beban jasa lalu                                    3.784                    (10.915)                   Past service cost
         Penghasilan komprehensif lain                     (1.695)                   (23.262)        Other comprehensive income
         Kontribusi pemberi kerja                          (3.500)                    (1.400)             Employer contributions
         Kelebihan pembayaran manfaat                      (1.355)                      (927)               Excess of benefit paid
         Pembayaran manfaat                                (9.564)                    (7.071)                   Benefits payment
         Saldo akhir tahun                                 87.484                     86.759                       End of the year


         Tabel berikut menyajikan sensitivitas atas                          The following table summarizes the sensitivity to a
         kemungkinan perubahan tingkat suku bunga pasar,                     reasonably possible change in market interest rates,
         dengan lain dianggap tetap, terhadap liabilitas                     with all other variables held constant, of the
         diestimasi atas imbalan kerja dan beban jasa.                       estimated liabilities for employee benefits and
                                                                             current service cost.

                                           31 Desember 2024/              31 Desember 2023/
                                           December 31, 2024              December 31, 2023
                                         Kenaikan/ Penurunan/           Kenaikan/ Penurunan/
                                         Increase    Decrease           Increase    Decrease

         Tingkat diskonto 1%                83.691         95.270           81.402         93.773          Discount rate in 1%
                                                                                                          Future salary increase
         Tingkat kenaikan gaji 1%           95.769         83.157           94.258         80.874                   rate in 1%


         Manajemen Entitas berpendapat bahwa jumlah                          The management of the Entity believe that the
         penyisihan atas imbalan kerja pada tanggal                          allowance for employee benefits as of
         31 Desember 2024 dan 2023 tersebut adalah                           December 31, 2024 and 2023 is adequate to meet the
         memadai untuk memenuhi ketentuan dalam PSAK                         requirements of PSAK No. 219 (Revised 2015).
         No. 219 (Revisi 2015).




                                                             92
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                            PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                       ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                     STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                 As of and For The Year Ended
31 Desember 2024                                                                                      December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in Millions of Rupiah, unless otherwise stated)
23.   MODAL SAHAM DAN SAHAM TREASURI                             23.     CAPITAL STOCK AND TREASURY STOCK

      Pemilikan    saham     Entitas     pada      tanggal               The Entity’s shareholders as of December 31, 2024 and
      31 Desember 2024 dan 2023 adalah sebagai berikut:                  2023 are as follows:

                                             31 Desember 2024/December 31, 2024
                                                            Persentase
                                                            Pemilikan/
                                          Jumlah Saham/   Percentage of     Jumlah/
      Nama Pemegang Saham                Number of Shares  Ownership%        Total                         Name of shareholders
      PT Cakra Bhakti Para Putra            4.020.063.930            56,90%           402.006       PT Cakra Bhakti Para Putra
      DBS Bank Ltd                            500.000.000            7,08%             50.000                     DBS Bank Ltd
      Ahli Waris Alm The Tjahjono                                                                   Ahli Waris Alm The Tjahjono
        Tedjo Koesoemo                        126.436.750            1,79%             12.644                 Tedjo Koesoemo
      Pandu Lokiswara Salam                    23.053.705            0,33%              2.305            Pandu Lokiswara Salam
      Masyarakat (masing -
        masing di bawah 5%)                 2.395.786.350            33,90%           239.579            Public (each below 5%)
      Sub-jumlah                            7.065.340.735            100,00%          706.534                           Sub-total
      Saham treasuri                          120.651.300                              12.065                    Treasury shares
      Jumlah                                 7.185.992.035                            718.599                              Total


                                             31 Desember 2023/December 31, 2023
                                                            Persentase
                                                            Pemilikan/
                                          Jumlah Saham/   Percentage of     Jumlah/
      Nama Pemegang Saham                Number of Shares  Ownership%        Total                         Name of shareholders
      PT Cakra Bhakti Para Putra            4.020.063.930            56,90%           402.006       PT Cakra Bhakti Para Putra
      DBS Bank Ltd                            500.000.000            7,08%             50.000                     DBS Bank Ltd
      Ahli Waris Alm The Tjahjono                                                                   Ahli Waris Alm The Tjahjono
        Tedjo Koesoemo                        126.436.750            1,79%             12.644                 Tedjo Koesoemo
      Pandu Lokiswara Salam                    23.453.705            0,33%              2.345            Pandu Lokiswara Salam
      Masyarakat (masing -
        masing di bawah 5%)                 2.395.386.350            33,90%           239.539            Public (each below 5%)
      Sub-jumlah                            7.065.340.735            100,00%          706.534                           Sub-total
      Saham treasuri                          120.651.300                              12.065                    Treasury shares
      Jumlah                                 7.185.992.035                            718.599                              Total


      Entitas melakukan Penawaran Umum Perdana sebanyak                  The Entity conducted an Initial Public Offering of
      2.900.000.000 saham yang telah dicatatkan di Bursa Efek            2,900,000,000 shares and had been listed in Indonesian
      Indonesia     pada  tanggal     13    Februari    2013             Stock Exchange on February 13, 2013 (see Note 1b).
      (lihat Catatan 1b).




                                                                93
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
23.   MODAL SAHAM DAN SAHAM TREASURI -                                23.    CAPITAL STOCK AND TREASURY STOCK -
      Lanjutan                                                               Continued

      Pada tahun 2015, berdasarkan Surat Entitas                             In 2015, according to the Entity’s letters,
      No. 162/VIII/CS-ISSP/2015 tanggal 31 Agustus 2015                      No. 162/VIII/CS-ISSP/2015 dated August 31, 2015 to
      kepada OJK, Entitas melakukan permohonan pembelian                     OJK, the Entity made an application for the repurchase
      kembali saham Entitas sesuai dengan ketentuan dan                      of the Entity’s shares in accordance with the regulation
      peraturan yang berlaku di bidang pasar modal. Pembelian                and legislation in force in capital market. The share buy
      kembali saham Entitas dilaksanakan mulai tanggal                       back of shares starts from September 1, 2015 up to
      1 September 2015 sampai dengan tanggal                                 November 30, 2015 wih maximum shares of buy back
      30 Nopember 2015 dengan jumlah saham yang akan                         amounting to Rp 50,000 with estimated cost
      dibeli kembali sebanyak-banyaknya Rp 50.000 dengan                     approximately Rp 100 excluded VAT.
      perkiraan biaya sekitar Rp 100 diluar PPN.

      Sampai dengan tanggal 31 Desember 2019, Entitas telah                  Until December 31, 2019, the Entity had purchased
      melakukan pembelian saham treasuri sebanyak                            amounting to 114,068,100 shares at an acquisition price
      114.068.100 saham dengan harga perolehan sebesar                       of Rp 19,640, and of March 2020, the Entity had
      Rp 19.640, dan pada bulan Maret 2020, Entitas kembali                  purchase amounting to 6,583,200 shares at an
      melakukan pembelian saham tresuri sebanyak 6.583.200                   acquisition price of Rp 670 which was presented as
      saham dengan harga perolehan sebesar Rp 670 yang                       "Treasury Stocks" and presented as a reduction of equity
      disajikan sebagai akun “Saham Treasuri” yang dicatat                   in the consolidated statements of financial position.
      sebagai pengurang ekuitas pada laporan posisi keuangan
      konsolidasian.

      Perubahan jumlah saham treasuri sampai dengan tanggal                  Changes in the number of treasury shares as of
      31 Desember 2024 adalah sebagai berikut:                               December 31, 2024 are as follows:

                                                                                              Tambahan
                                                Nilai Perolehan                              Modal Disetor/
                                 Total Saham/      Kembali/             Nilai Nominal/      Additional Paid
                               Number of Shares Buyback value            Par Value            in Capital
      Periode buyback                                                                                                 Buyback period
        Tanggal 1 September
          s/d 30 November                                                                                       September 1 until
          2015                     114.068.100             (19.640)             (11.406)             (8.234) November 30, 2015
        Tanggal 16 Maret s/d                                                                                      March 16 until
          15 Juni 2020               6.583.200               (670)                  (659)               (11)     June 15, 2020
      Jumlah                       120.651.300             (20.310)             (12.065)             (8.245)                    Total


      Selisih hasil pembelian kembali sebesar Rp 8.245 dicatat               Gain from the buyback amounted to Rp 8,245 recorded
      sebagai tambahan modal disetor pada laporan perubahan                  as additional paid in capital in the consolidated
      ekuitas konsolidasian.                                                 statement of changes in equity.

      Berdasarkan Akta Notaris Gatot Widodo, S.E., S.H.,                     Based on Deed of Notary Gatot Widodo, S.E., S.H.,
      M.Kn. No. 40 tanggal 28 Juni 2024, disetujui untuk                     M.Kn. No. 40 dated June 28, 2024, it was agreed to
      melakukan pembagian dividen tunai sebesar                              distribute cash dividends of Rp 105,980 and book a
      Rp 105.980 dan pembukuan Dana Cadangan sebesar                         Reserve Fund of Rp 10,000.
      Rp 10.000.




                                                                 94
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                          PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                     ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                   STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                               As of and For The Year Ended
31 Desember 2024                                                                                    December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in Millions of Rupiah, unless otherwise stated)
24.   TAMBAHAN MODAL DISETOR - NETO                                24.    ADDITIONAL PAID-IN CAPITAL - NET

      Akun ini terdiri dari :                                             This account consists of :

                                                    2024                       2023

      Saldo awal                                       500.880                    500.880                         Beginning balance
      Agio saham atas penawaran                                                                         Share premium arising from
        saham perdana                                         -                            -                initial public offering
      Beban emisi saham                                       -                            -                 Share issuance expense
      Pembelian saham diperoleh kembali                       -                            -           Buyback from treasury shares
      Jumlah                                           500.880                    500.880                                        Total



25.   KOMPONEN EKUITAS LAINNYA                                 25.       OTHER EQUITY COMPONENTS

      Akun ini terdiri dari :                                            This account consists of :

                                                    2024                       2023

      Pos-pos yang tidak akan                                                                                    Items that will not be
        direklasifikasi ke laba rugi                                                                      reclassified profit or loss
      Saldo awal                                      1.219.256                  1.201.112                          Beginning balance
      Keuntungan (kerugian) aktuaria                                                                           Actuarial gain (losses)
        (lihat Catatan 22)                                 1.695                    23.262                              (see Note 22)
      Pajak penghasilan terkait                                                                             Income tax related to item
        pos-pos yang tidak akan                                                                        that will not be reclasssified
        direklasifikasi ke laba rugi                       (373)                      (5.118)                        to profit or loss
      Saldo akhir                                    1.220.578                  1.219.256                             Ending balance



26.   PENJUALAN DAN PENDAPATAN JASA                                26.    SALES AND SERVICE REVENUES

      Akun ini terdiri dari :                                             This account consists of :

                                                    2024                       2023

      Lokal                                                                                                                 Domestic
      Pipa hitam                                     1.228.836                  1.310.970                                  Black pipe
      Pipa spiral                                    1.022.860                  1.227.706                                 Spiral pipe
      Pipa mekanis                                     983.419                  1.031.594                           Mechanical pipe
      Pipa air                                         833.499                    934.562                                 Water pipe
      Pipa perabot                                     719.171                    726.244                             Furniture pipe
      Strip dan plat                                   590.299                    542.714                            Strips and plate
      Pipa stainless                                   301.689                    274.034                              Stainless pipe
      Tiang                                            225.731                    142.661                                        Pole
      Jasa dan lain-lain                                35.931                     21.986                         Services and others
      Sub-jumlah                                     5.941.435                  6.212.471                                    Sub-total




                                                             95
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                            PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                       ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                     STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                 As of and For The Year Ended
31 Desember 2024                                                                                      December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
26.   PENJUALAN          DAN    PENDAPATAN         JASA    –         26.    SALES AND SERVICE REVENUES – Continued
      Lanjutan

                                                    2024                         2023

      Ekspor                                                                                                                 Export
      Pipa hitam                                       139.327                      192.120                               Black pipe
      Pipa air                                          35.328                       31.362                              Water pipe
      Pipa spiral                                          276                       15.210                              Spiral pipe
      Pipa perabot                                           -                          184                          Furniture pipe
      Jasa & Lain-lain                                   1.998                        3.982                      Services and others
      Sub-jumlah                                       176.929                      242.858                                 Sub-total
      Jumlah                                         6.118.364                    6.455.329                                    Total


      Penjualan dan pendapatan jasa kepada pihak berelasi                   Sales and service revenues to related parties amounted
      yang berakhir pada tanggal 31 Desember 2024 dan 2023                  to Rp 110,866 and Rp 133,280 for the year ended
      masing-masing sebesar Rp 110.866 dan Rp 133.280                       December 31, 2024 and 2023, respectively (see Note 33).
      (lihat Catatan 33).

      Tidak terdapat penjualan kepada pelanggan yang                        There were no individual sales which are above 10% of
      jumlahnya melebihi 10% dari jumlah penjualan dan                      the total sales and service revenues for the period/year
      pendapatan jasa untuk tahun yang berakhir pada tanggal                ended December 31, 2024 and 2023.
      31 Desember 2024 dan 2023.

      Pendapatan jasa dan lain-lain merupakan pendapatan atas               Service and other revenues represent revenues arising
      jasa proses pemotongan coil, jasa proses pelapisan pipa               from cutting coil, coating pipe process and tooling
      dan jasa pembuatan pipa (tooling).                                    services process.


27.   BEBAN POKOK PENDAPATAN                                         27.    COST OF REVENUES

      Akun ini terdiri dari :                                               This account consists of :

                                                    2024                         2023

      Pemakaian bahan baku                            4.713.599                    4.788.301                   Raw materials used
      Tenaga kerja langsung                             109.074                       96.681                          Direct labor
      Beban pabrikasi                                   478.931                      462.891                Manufacturing expenses

      Jumlah beban produksi                           5.301.604                    5.347.873              Total manufacturing costs

      Persediaan barang jadi                                                                                         Finished goods
      Awal periode                                     974.941                     1.014.210                  At beginning of period
      Akhir periode                                 (1.264.158)                    (974.941)                        At end of period
      Beban pokok pendapatan                         5.012.387                    5.387.142                         Cost of revenues


      Pembelian bahan baku masing-masing yang berakhir                      Raw material purchases from related parties amounted
      pada tanggal 31 Desember 2024 dan 2023 dari pihak                     to nil and Rp 133 for the years ended December 31, 2024
      berelasi masing-masing sebesar nihil dan Rp 133 (lihat                and 2023, respectively (see Note 33).
      Catatan 33).




                                                                96
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                          PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                     ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                  NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                   STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                               As of and For The Year Ended
31 Desember 2024                                                                                    December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in Millions of Rupiah, unless otherwise stated)
27.   BEBAN POKOK PENDAPATAN – Lanjutan                            27.    COST OF REVENUES – Continued

      Berikut adalah rincian pembelian bahan baku yang                    Purchases of raw materials for more than 10% of the
      melebihi 10% dari jumlah pembelian masing-masing                    total purchases for the years ended December 31, 2024
      untuk tahun yang berakhir 31 Desember 2024 dan 2023                 and 2023 are as follows:
      adalah sebagai berikut:

                                                    2024                       2023

      Sino Glory Metal Resources Inc                  1.641.353                  1.077.586        Sino Glory Metal Resources Inc
      Baosteel Singapore Pte Ltd                        800.281                    792.119            Baosteel Singapore Pte Ltd
      PT Krakatau Posco                                 673.213                    606.142                   PT Krakatau Posco
      Jumlah                                         3.114.847                  2.475.847                                    Total



28.   PENDAPATAN LAIN-LAIN                                         28.    OTHER INCOME

      Akun ini terdiri dari :                                             This account consists of :

                                                    2024                       2023

      Penjualan barang aval                            106.538                    101.638                               Scrap sales
      Bagian laba entitas asosiasi                       4.526                      3.077      Part of gain from associate entities
      Pendapatan bunga                                   1.437                        293                           Interest income
                                                                                                 Gain on sales of property, plant,
      Laba penjualan aset tetap                             225                          -                         and equipment
      Keuntungan selisih kurs                                 -                     21.242                 Foreign exchange gain
      Dampak atas perubahan                                                                                   Impact of changes in
        metode atribusi                                                                                       attribution method
        (lihat Catatan 22)                                     -                    10.915                          (see Note 22)
      Pendapatan klaim asuransi                                -                        16        Income from insurance's claims
      Lain-lain                                            9.147                     5.937                                   Others
      Jumlah                                           121.873                    143.118                                   Total



29.   BEBAN PENJUALAN DAN DISTRIBUSI                               29.    SELLING AND DISTRIBUTION EXPENSES

      Akun ini terdiri dari:                                              This account consists of:

                                                    2024                       2023

      Ekspor dan pengiriman                            102.310                    104.726                     Export and freight
      Gaji dan tunjangan                                34.203                     36.893                   Salaries and benefits
      Komisi dan klaim                                  10.070                      5.464                Commissions and claims
      Lain-lain                                         13.063                     13.474                                 Others
      Jumlah                                           159.646                    160.557                                   Total




                                                              97
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                           PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                      ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                    STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                As of and For The Year Ended
31 Desember 2024                                                                                     December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
30.   BEBAN UMUM DAN ADMINISTRASI                                   30.    GENERAL AND ADMINISTRATIVE EXPENSES

      Akun ini terdiri dari :                                              This account consists of :

                                                    2024                        2023

      Gaji dan tunjangan                                   60.764                    67.605                   Salaries and benefits
      Imbalan pasca kerja                                                                                        Employee benefits
        (lihat Catatan 22)                                 16.839                    15.541                         (see Note 22)
      Perbaikan dan pemeliharaan                           11.908                    14.532               Repair and maintenance
      Jasa manajemen                                        7.584                     7.584                       Management fees
      Pajak dan perijinan                                   2.652                     1.307                      Taxes and permits
      Honorarium tenaga ahli                                2.621                     4.302                       Professional fees
      Pencadangan piutang                                   2.577                     6.157        Provision for impairment losses
      Penyusutan (lihat Catatan 12)                         1.876                     2.479            Depreciation (see Note 12)
      Amortisasi aset tak berwujud                                                                      Amortization of intangible
        (lihat Catatan 14)                                  1.682                     5.575                   asset (see Note 14)
      Telepon dan faksimile                                   852                       896               Telephone and facsimile
      Listrik dan air                                         799                       758                   Electricity and water
      Lain-lain                                            15.100                    17.316                                  Others
      Jumlah                                           125.254                      144.052                                    Total



31.   BEBAN KEUANGAN                                                31.    FINANCIAL EXPENSES

      Akun ini terdiri dari :                                              This account consists of :

                                                    2024                        2023

      Bunga obligasi dan sukuk                         112.083                      64.818                 Bond and sukuk interest
      Provisi dan administrasi bank                     57.994                     106.096              Provision and bank charges
      Bunga bank                                        20.297                      60.942                            Bank interest
      Biaya emisi                                       17.078                           -                           Emission cost
      Bunga liabilitas sewa                              3.380                       5.332                 Lease liabilities interest
      Jumlah                                           210.832                     237.188                                    Total



32.   BEBAN LAIN - LAIN                                             32.    OTHER EXPENSES

      Akun ini terdiri dari :                                              This account consists of :

                                                    2024                        2023

      Kerugian selisih kurs                                29.511                          -              Foreign exchange losses
      Beban penurunan nilai                                                                                   Inventory impairment
       persediaan (lihat Catatan 8)                        19.153                    15.114                  charges (see Note 8)
      Beban pembukaan                                                                                             Opening Letter of
       Letter of Credit                                     7.273                      6.963                       Credit expense
      Kerugian penghapusan                                                                          Losses on write-off of property,
       aset tetap                                               -                          7                plant, and equipment
      Lain-lain                                               592                      6.840                                 Others
      Jumlah                                               56.529                    28.924                                   Total



                                                               98
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                         PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                    ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                 NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                  STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                              As of and For The Year Ended
31 Desember 2024                                                                                   December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                (Expressed in Millions of Rupiah, unless otherwise stated)
33.   SALDO DAN TRANSAKSI DENGAN PIHAK-                           33.    BALANCES   AND             TRANSACTIONS           WITH
      PIHAK BERELASI                                                     RELATED PARTIES

      Sifat transaksi dan hubungan dengan pihak-pihak                    The nature of transaction and relationship with related
      berelasi adalah sebagai berikut:                                   parties are as follows:

                                                         Sifat Hubungan/                             Jenis Transaksi/
       Pihak-pihak Berelasi/Related Parties           Nature of Relationship                      Nature of Transactions

      PT Sarana Steel Corporation               Memiliki pemegang saham dan               Penjualan pipa/Sales of pipe
                                                 manajemen yang sama dengan
                                                 Entitas/Same shareholders
                                                 and management with the Entity

      PT Citra Cakra Logam                      Memiliki pemegang saham dan               Penjualan aval/Sales of scrap
                                                 manajemen yang sama dengan
                                                 Entitas/Same shareholders
                                                 and management with the Entity

      PT Cakra Bhakti Agro Industri             Memiliki pemegang saham dan               Penjualan pipa/Sales of pipe
                                                 manajemen yang sama dengan
                                                 Entitas/Same shareholders
                                                 and management with the Entity

      PT Alam Metal Mercuniaga                  Memiliki pemegang saham dan               Penjualan pipa/Sales of pipe
                                                 manajemen yang sama dengan
                                                 Entitas/Same shareholders
                                                 and management with the Entity

      PT Cakra Bhakti Para Putra                Memiliki pemegang saham dan               Jasa manajemen/Management fee
                                                 manajemen yang sama dengan
                                                 Entitas/Same shareholders
                                                 and management with the Entity

      PT Saranacentral Bajatama Tbk             Memiliki pemegang saham dan               Penjualan pipa/Sales of pipe
                                                 manajemen yang sama dengan
                                                 Entitas/Same shareholders
                                                 and management with the Entity

      PT Sarana Surya Sakti                     Memiliki pemegang saham dan               Penjualan pipa/Sales of pipe
                                                 manajemen yang sama dengan
                                                 Entitas/Same shareholders
                                                 and management with the Entity

      PT Cakra Bhakti Bumi Persada              Memiliki pemegang saham dan               Penjualan pipa/Sales of pipe
                                                 manajemen yang sama dengan
                                                 Entitas/Same shareholders
                                                 and management with the Entity

      PT Sanko Steel Indonesia                  Entitas Asosiasi/Associated               Penjualan pipa/Sales of pipe




                                                             99
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                        STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                    As of and For The Year Ended
31 Desember 2024                                                                                         December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
33.   SALDO DAN TRANSAKSI DENGAN PIHAK-                               33.    BALANCES   AND     TRANSACTIONS                   WITH
      PIHAK BERELASI - Lanjutan                                              RELATED PARTIES - Continued

      Transaksi dan saldo dengan pihak-pihak berelasi adalah                 Transactions and balances with related parties are as
      sebagai berikut:                                                       follows:

      a. Entitas melakukan transaksi penjualan kepada pihak-                 a. The Entity conducted sales transactions with related
         pihak berelasi. Saldo yang timbul dari transaksi                       parties. The balance arising from the transaction as
         tersebut pada tanggal 31 Desember 2024 dan 2023                        of December 31, 2024 and 2023 are presented as
         disajikan sebagai akun “Piutang Usaha - Pihak                          "Trade Receivables - Related Parties" in the
         Berelasi” dalam laporan posisi keuangan                                consolidated statements of financial position (see
         konsolidasian (lihat Catatan 6).                                       Note 6).

         Transaksi penjualan dan pendapatan jasa dengan                          Sales and service revenues with related parties are
         pihak berelasi adalah sebagai berikut:                                  as follows:

                                                      2024                          2023

         PT Sanko Steel Indonesia                           94.272                       99.912            PT Sanko Steel Indonesia
         PT Citra Cakra Logam                               11.233                        9.873              PT Citra Cakra Logam
         PT Alam Metal Mercuniaga                            5.111                        5.117          PT Alam Metal Mercuniaga
         PT Sarana Steel Corporation                           240                       17.786         PT Sarana Steel Corporation
         PT Sarana Surya Sakti                                   5                            6              PT Sarana Surya Sakti
         PT Cakra Bhakti Para Putra                              5                            -         PT Cakra Bhakti Para Putra
         PT Takiron Indonesia                                    -                          586               PT Takiron Indonesia
         Jumlah                                            110.866                      133.280                                  Total

         Persentase dari Jumlah Penjualan                                                                   Percentage to Total Sales
           dan Pendapatan Jasa                               1,81%                         2,06%             and Service Revenues


      b. Entitas melakukan transaksi non usaha dengan                        b. The Entity conducted non-trade transactions with
         PT Sanko Steel Indonesia. Saldo yang timbul dari                       PT Sanko Steel Indonesia. The balance arising from
         transaksi tersebut pada tanggal 31 Desember 2024                       the transaction as of December 31, 2024 and 2023
         dan 2023 disajikan sebagai akun “Piutang Lain-lain                     are presented as "Other Receivables - Related
         - Pihak Berelasi” dalam laporan posisi keuangan                        Parties" in the consolidated statements of financial
         konsolidasian untuk tahun yang berakhir tanggal                        position for the year ended December 31, 2024 (see
         31 Desember 2024 (lihat Catatan 7).                                    Note 7).

      c. Entitas melakukan transaksi keuangan dengan pihak-                  c. The Entity, had financial transactions with related
         pihak berelasi. Saldo yang timbul dari transaksi                       parties. The related outstanding balance as of
         tersebut pada tanggal 31 Desember 2024 dan 2023                        December 31, 2024 and 2023 are presented as “Due
         disajikan sebagai akun “Piutang Pihak Berelasi”                        from Related Parties” in the consolidated statements
         dalam laporan posisi keuangan konsolidasian.                           of financial position.

         Saldo piutang pihak berelasi adalah sebagai berikut:                    Due from related parties are as follows:

                                                      2024                          2023

         PT Sarana Steel Corporation                                  -                       7         PT Sarana Steel Corporation
         Jumlah                                                       -                       7                                  Total
         Persentase terhadap
          jumlah aset                                        0,00%                         0,00%             Percentage to total asset




                                                                100
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                            ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                         NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                          STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                      As of and For The Year Ended
31 Desember 2024                                                                                           December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)
33.   SALDO DAN TRANSAKSI DENGAN PIHAK-                                 33.    BALANCES   AND     TRANSACTIONS                   WITH
      PIHAK BERELASI - Lanjutan                                                RELATED PARTIES - Continued

         Tidak terdapat syarat dan ketentuan penting dari pos                       There are no important terms and conditions of the
         piutang pihak perelasi tersebut diatas.                                    post receivables from the related parties mentioned
                                                                                    above.

      d. Entitas melakukan transaksi pembelian dari pihak-                     d. The Entity had purchase transactions from related
         pihak berelasi. Saldo yang timbul dari transaksi                         parties. The balance arising from the transaction as
         tersebut pada tanggal 31 Desember 2024 dan 2023                          of December 31, 2024 and 2023 are presented as
         disajikan sebagai akun ”Utang Usaha - Pihak                              "Trade Payables - Related Parties" in the
         Berelasi” dalam laporan posisi keuangan                                  consolidated statement of financial position (see
         konsolidasian (lihat Catatan 17).                                        Note 17).

         Transaksi pembelian bahan baku dengan pihak                                Purchase of raw materials transactions with related
         berelasi adalah sebagai berikut:                                           parties are as follows:

                                                        2024                          2023

          PT Sarana Steel Corporation                                   -                     133          PT Sarana Steel Corporation
          Jumlah                                                        -                     133                                  Total

          Persentase dari jumlah beban                                                                               Percentage to total
           pokok penjualan                                     0,00%                         0,00%                    cost of revenues


      e. Entitas menerima jasa manajemen dan teknis dari                       e. The Entity received the management and technical
         PT Cakra Bhakti Para Putra yang mana Entitas                             services from PT Cakra Bhakti Para Putra where the
         membayar jasa manajemen untuk tahun yang                                 Entity pays for management services for the years
         berakhir pada 31 Desember 2024 dan 2023 sebesar                          ended December 31, 2024 and 2023 amounting to
         Rp 7.584. Nilai tersebut disajikan sebagai bagian dari                   Rp 7,584. The amount are presented as part of
         akun “Beban Umum dan Administrasi” dalam                                 "General and Administrative expenses" in the
         laporan laba rugi dan penghasilan komprehensif lain                      consolidated statement of profit or loss and other
         konsolidasian (lihat Catatan 30).                                        comprehensive income (see Note 30).

      f. Entitas melakukan transaksi penjualan avalan kepada                   f.   The Entity conducted scrap sales transactions with
         PT Citra Cakra Logam sebesar Rp 11.229 dan                                 PT Citra Cakra Logam amounting to Rp 11,229 and
         Rp 9.800. Saldo yang timbul dari transaksi tersebut                        Rp 9,800. The balance arising from the transaction
         pada tanggal 31 Desember 2024 dan 2023 disajikan                           as of December 31, 2024 and 2023 are presented as
         sebagai akun “Piutang Usaha - Pihak Berelasi”                              "Trade Receivables - Related Parties" in the
         dalam laporan posisi keuangan konsolidasian (lihat                         consolidated statements of financial position (see
         Catatan 6).                                                                Note 6).

      g. Gaji dan tunjangan lain yang diberikan untuk Dewan                    g. Salaries and other compensation benefits of the
         Komisaris dan Direksi Entitas adalah sebesar                             Entity’s and Subsidiary’s Board of Commissioners
         Rp 26.717 dan Rp 28.458 masing-masing yang                               and Directors amounting to Rp 26,717 and
         berakhir pada tanggal 31 Desember 2024 dan 2023.                         Rp 28,458 period ended December 31, 2024 and
                                                                                  2023, respectively.




                                                                  101
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
34.   PERPAJAKAN                                                     34.    TAXATION

      a. Pajak Dibayar di Muka                                             b. a. Prepaid Taxes

                                                      2024                         2023

         Pajak Pertambahan Nilai                                     -                    5.551                       Value Added Tax
         Pajak Penghasilan:                                                                                             Income Taxes:
          Pasal 25                                               33                          33                           Article 25
         Jumlah                                                  33                       5.584                                    Total


      b. Penghasilan (Beban) Pajak                                          b. Tax Income (Expense)

                                                      2024                         2023

         Pajak kini                                        (160.121)                 (156.327)                              Current tax
         Pajak tangguhan                                     14.595                    13.802                              Deferred tax
         Jumlah                                            (145.526)                 (142.525)                                     Total


      c. Utang Pajak                                                         c. Taxes Payable

         Akun ini terdiri dari :                                                This account consists of :

                                                      2024                         2023

         Pajak Penghasilan:                                                                                             Income Taxes:
         Pasal 21                                             5.476                      4.937                              Article 21
         Pasal 23                                               157                      2.063                              Article 23
         Pasal 4 ayat 2                                         110                        151                             Article 4(2)
         Pajak Pertambahan Nilai                              4.461                          6                        Value Added Tax
         Pasal 29                                            21.211                     52.108                              Article 29
         Jumlah                                              31.415                     59.265                                     Total


         Hasil Pemeriksaan Pajak                                                Result of Tax Assessment

         Tahun Pajak 2022                                                       Fiscal Year 2022

         Pada tahun 2023, Entitas menerima hasil                                In 2023, the Entity receives the results of the tax audit
         pemeriksaan pajak berupa SKPLB PPh Badan 2022                          in the form of 2022 Corporate Income Tax SKPLB
         No: 00001/406/22/092/23 sebesar Rp 90.798. Entitas                     No: 00001/406/22/092/23 amounting to Rp 90,798.
         memperoleh kelebihan pembayaran pendapatan PPh                         The Entity received an overpayment of income from
         pasal 25/29 badan dengan masa tahun pajak 2022                         corporate income tax article 25/29 for the 2022 tax
         sebesar Rp 90.798, dikompensasikan ke sejumlah                         year of Rp 90,798, which was compensated for the
         utang pajak melalui SKPKB Rp 200, sehingga                             amount of tax debt through SKPKB of Rp 200, so that
         jumlah yang diterima sebesar Rp 90.598.                                the amount received was Rp 90,598.

         Pada tanggal 12 September 2023, Entitas menerima                       On September 12, 2023, the Entity received a tax
         pengembalian atas pajak tahun 2022 sebesar                             refund for 2022 fiscal year of Rp 90,598.
         Rp 90.598.




                                                               102
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                           PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                      ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                    STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                As of and For The Year Ended
31 Desember 2024                                                                                     December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
34.   PERPAJAKAN - Lanjutan                                         34.     TAXATION – Continued

      d. Pajak Kini                                                         d. Current Tax

         Rekonsiliasi antara laba sebelum taksiran                              Reconciliation between income before provision for
         penghasilan (beban) pajak seperti yang tercantum                       tax income (expense) as shown in the consolidated
         dalam laporan laba rugi dan penghasilan                                statement of profit or loss and other comprehensive
         komprehensif lain konsolidasian untuk tahun yang                       income with the estimated taxable income for the
         berakhir pada tanggal 31 Desember 2024 dan 2023                        years ended December 31, 2024 and 2023 are as
         dengan taksiran laba kena pajak adalah sebagai                         follows:
         berikut:

                                                      2024                        2023

         Laba sebelum taksiran                                                                              Income before provision
           penghasilan (beban) pajak                                                                         tax income (expense)
           sesuai dengan laporan laba                                                                   according to consolidated
           rugi dan penghasilan                                                                        statements of profit or loss
           komprehensif lain                                                                             and other comprehensive
           konsolidasian                                   675.595                   640.584                               income

         Rugi sebelum taksiran                                                                                          Loss before
          penghasilan (beban) pajak -                                                                       provision tax income
          Entitas Anak                                         188                        285              (expense) - Subsidiary

         Laba sebelum taksiran                                                                              Income before provison
           penghasilan (beban) pajak                       675.783                   640.869                 tax income (expense)

         Beda waktu:                                                                                        Temporary differences:
          Penyusutan                                        80.905                     79.629                        Depreciation
          Imbalan paska kerja                                2.419                     (4.772)         Post-employment benefits
          Cadangan kerugian                                                                            Allowance for impairment
            penurunan nilai piutang                          2.577                      6.157              losses of receivables
          Liabilitas sewa                                  (19.560)                   (18.276)                    Lease liabilities
         Jumlah                                             66.341                     62.738                                  Total

         Beda tetap:                                                                                        Permanent differences:
          Denda dan bunga pajak                              3.303                        854            Tax penalty and interest
          Penghasilan bunga yang telah                                                                  Interest income subjected
            dikenakan pajak final                           (1.427)                      (282)                       to final tax
          Bunga leasing                                      3.315                       5.332                       Interest lease
          Sumbangan                                          1.149                       1.065                           Donation
                                                                                                      General and administrative
           Beban umum dan administrasi                     (20.645)                          -                          expenses

         Jumlah                                            (14.305)                      6.969                                 Total
         Taksiran laba kena pajak                          727.819                   710.576              Estimated taxable income

         Beban pajak penghasilan:                                                                              Income tax expense:
         22% x Rp 727.819                                  160.120                         -                     22% x Rp 727,819
         22% x Rp 710.576                                        -                   156.327                     22% x Rp 710,576

         Jumlah beban pajak penghasilan                    160.120                   156.327              Total income tax expense




                                                              103
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
34.   PERPAJAKAN - Lanjutan                                          34.     TAXATION - Continued

      d. Pajak Kini – Lanjutan                                               d. Current Tax - Continued

                                                      2024                         2023

         Kredit pajak                                                                                                       Tax credit
         Pajak Penghasilan:                                                                                             Income Taxes:
           Pasal 22                                         (82.737)                   (70.957)                           Article 22
           Pasal 23                                             (61)                      (155)                           Article 23
           Pasal 25                                         (56.111)                   (33.106)                           Article 25

         Jumlah                                            (138.909)                 (104.218)                                    Total
         Jumlah kurang (lebih) bayar                                                                                Total under (over)
           pajak penghasilan                                21.211                      52.109                           income tax
         Jumlah taksiran tagihan pajak                                                                      Total prior year claim for
           penghasilan tahun lalu                                    -                  82.939                            tax refund
         Penyesuaian dari:                                                                                             Adjustment of:
         Hasil sidang atas PPh                                                                                    Result of Corporate
           badan tahun 2022                                          -                 (90.598)                 Income tax in 2022
         Koreksi piutang pajak                                       -                   7.659              Correction tax receivable
         Jumlah taksiran tagihan pajak                                                                         Total estimated claims
           penghasilan - Entitas                                     -                         -              for tax refund - Entity
         Jumlah taksiran tagihan                                                                               Total estimated claims
           pajak penghasilan                                         -                         -                      for tax refund


         Laba kena pajak hasil rekonsiliasi menjadi dasar                        The taxable profit resulting from the reconciliation is
         dalam pengisian SPT Tahunan PPh Badan.                                  the basis for filling out the Annual Corporate Income
                                                                                 Tax Return.

      e. Pajak Tangguhan                                                     e. Deferred Tax

         Perhitungan taksiran penghasilan pajak tangguhan                        The calculation of deferred income tax for the years
         untuk tahun yang berakhir pada tanggal                                  ended December 31, 2024 and 2023 are as follows:
         31 Desember 2024 dan 2023 adalah sebagai berikut:

                                                      2024                         2023

         Penghasilan pajak tangguhan                                                                             Deferred tax income
                                                                                                          Depreciation of property,
           Penyusutan aset tetap                            17.799                      17.518               plant and equipment
           Imbalan pasca kerja                                 532                      (1.050)           Post-employment benefits
           Pencadangan penurunan piutang                       567                       1.355      Impairment of trade receivables
                                                                                                    Revaluation surplus of property,
           Liabilitas sewa                                   (4.303)                      (4.021)                  Lease liabilities
         Jumlah Penghasilan                                                                                        Total Deferred Tax
           Pajak Tangguhan - Neto                           14.595                      13.802                         Income - Net




                                                               104
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                            PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                       ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                     STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                 As of and For The Year Ended
31 Desember 2024                                                                                      December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                   (Expressed in Millions of Rupiah, unless otherwise stated)
34.   PERPAJAKAN - Lanjutan                                          34.     TAXATION - Continued

      e. Pajak Tangguhan – Lanjutan                                          e. Deferred Tax - Continued

         Rincian liabilitas pajak tangguhan neto pada tanggal                   The details of deferred tax liabilities net as of
         31 Desember 2024 dan 2023 adalah sebagai berikut:                      December 31, 2024 and 2023 are as follows:

                                                      2024                         2023

         Liabilitas diestimasi atas                                                                            Estimated liabilities
           imbalan kerja                                     19.246                    19.087               for employee benefits
         Aset tetap                                         149.970                   132.171        Property, plant and equipment
         Cadangan kerugian                                                                               Allowance for impairment
           nilai piutang                                     13.866                     13.299               losses of receivables
         Liabilitas sewa                                    (29.017)                   (24.714)                     Lease liabilities
                                                                                                    Revaluation surplus of property,
         Surplus revaluasi aset tetap                      (339.598)                 (339.598)               plant and equipment
         Jumlah Liabilitas Pajak                                                                                 Total Deferred Tax
           Tangguhan-Neto                                  (185.533)                 (199.755)                    Liabilities - Net


         Rekonsiliasi antara beban pajak penghasilan yang                       The reconciliation of the income tax expense is
         dihitung dengan menggunakan tarif pajak yang                           calculated by applying the applicable tax rate to the
         berlaku dari laba konsolidasian sebelum pajak                          consolidated income before income tax and the
         penghasilan dengan beban pajak penghasilan untuk                       income tax expense for the years ended
         tahun yang berakhir pada tanggal 31 Desember 2024                      December 31, 2024 and 2023 are as follows:
         dan 2023 adalah sebagai berikut:

                                                      2024                         2023

         Laba (rugi) sebelum taksiran                                                                           Income (loss) before
          penghasilan (beban) pajak                                                                          provision tax income
          sesuai dengan laporan laba                                                                       (expense) according to
          rugi dan penghasilan                                                                          consolidated statements of
          komprehensif lain                                                                                profit or loss and other
          konsolidasian                                     675.589                   640.584              comprehensive income

         Rugi (laba) sebelum taksiran                                                                          Loss (income) before
          penghasilan (beban) pajak -                                                                        provision tax income
          Entitas Anak                                          188                        285              (expense) - Subsidiary

         Laba (rugi) sebelum taksiran                                                                  Income (loss) before provison
          penghasilan (beban) pajak                         675.777                   640.869               tax income (expense)

         Beban pajak dengan                                                                                           Tax expense at
          tarif yang berlaku                               (148.672)                 (140.991)                   effective tax rates




                                                               105
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                             PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                        ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                     NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                      STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                  As of and For The Year Ended
31 Desember 2024                                                                                       December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                    (Expressed in Millions of Rupiah, unless otherwise stated)
34.   PERPAJAKAN - Lanjutan                                           34.     TAXATION - Continued

      e. Pajak Tangguhan – Lanjutan                                           e. Deferred Tax - Continued

                                                        2024                        2023

                                                                                                                  Tax effect on permanent
         Pengaruh pajak atas beda tetap:                                                                                     differences:
         Denda dan bunga pajak                                 (727)                       (188)                  Tax penalty and interest
         Penghasilan bunga yang telah                                                                         Interest income subjected to
           dikenakan pajak final                                 314                          62                                 final tax
         Bunga leasing                                         (729)                     (1.173)                             Interest lease
         Sumbangan                                             (253)                       (235)                                  Donation
                                                                                                              General and administrative
         Beban umum dan administrasi                           4.541                             -                              expenses
         Sub-jumlah                                            3.146                     (1.534)                                 Sub-total
         Jumlah beban
           pajak penghasilan                               (145.526)                  (142.525)                 Total income tax expense



35.   LABA PER SAHAM DASAR                                            35.    BASIC EARNINGS PER SHARE

                                                      2024                        2023

      Laba yang dapat Diatribusikan                                                                             Profit Attributable to the
       kepada Entitas Induk                              530.082                     498.087                              Parent Entity
      Rata - rata Tertimbang Saham                                                                      Weighted Average of Outstanding
       (Jumlah Penuh)                               7.065.340.735              7.065.340.735                     Shares (Full Amount)
      Laba per Saham Dasar                                                                                            Basic Earnings per
       (Jumlah Penuh)                                        75,03                       70,50                     Share (Full Amount)



36.   ASET DAN LIABILITIS MONETER DALAM                               36.     MONETARY ASSETS AND                     LIABILITIES       IN
      MATA UANG ASING                                                         FOREIGN CURRENCIES

                                               2024                                  2023
                                      Mata Uang     Ekuivalen               Mata Uang     Ekuivalen
                                        Asing/       Rupiah/                  Asing/       Rupiah/
                                       Foreign    Equivalent in              Foreign    Equivalent in
                                      Currency       rupiah                 Currency       rupiah
      Aset                                                                                                                        Assets
      Kas dan setara kas                      380             6.143                818               12.610    Cash and cash equivalents
      Piutang usaha                         2.556            41.317              3.689               56.872           Trade receivables

      Jumlah Aset                           2.936            47.460              4.507               69.482                   Total Assets

      Liabilitas                                                                                                                Liabilities
      Utang bank                           48.224          779.394              63.385           977.151                       Bank loans
      Utang usaha                          16.663          269.303              13.192           203.363                   Trade payables
      Jumlah Liabilitas                    64.887       1.048.697               76.577       1.180.514                    Total Liabilities
      Jumlah Liabilitas - Neto             61.951       1.001.237               72.070       1.111.032              Total liabilities - Net




                                                                106
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                  PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                             ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                          NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                           STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                       As of and For The Year Ended
31 Desember 2024                                                                                            December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                         (Expressed in Millions of Rupiah, unless otherwise stated)
37.   NILAI WAJAR INSTRUMEN KEUANGAN                                       37.    FAIR VALUE OF FINANCIAL INSTRUMENTS

      Nilai wajar adalah harga yang akan diterima untuk                           Fair value is the price that would be received to sell an
      menjual suatu aset atau harga yang akan dibayar untuk                       asset or paid to transfer a liability in an orderly
      mengalihkan suatu liabilitas dalam suatu transaksi teratur                  transaction between market participants at the
      antara pelaku pasar pada tanggal pengukuran. Nilai wajar                    measurement date. The fair value is derived from
      diperoleh dari kuotasi harga atau model arus kas                            quotated market price discounted cash flow models. The
      diskonto. Instrumen keuangan Entitas dan Entitas Anak                       financial instruments of the Entity and Subsidiary consist
      terdiri dari aset keuangan dan liablitas keuangan.                          of financial assets and financial liabilities.

      Tabel di bawah ini menggambarkan nilai tercatat dan                         The table below shows the carrying values and fair
      nilai wajar dari aset dan liabilitas keuangan yang tercatat                 values of the financial assets and financial liabilities
      pada laporan posisi keuangan konsolidasian yang                             recorded in the consolidated statement of financial
      berakhir pada tanggal 31 Desember 2024 dan 2023:                            position as of December 31, 2024 and 2023:

                                              Nilai Tercatat/                              Nilai Wajar/
                                           Carrying Amount                                 Fair Value
                                         2024                 2023                  2024                  2023

      Aset Keuangan                                                                                                           Financial Assets
      Kas dan setara kas                   503.649            176.938                503.649                176.938   Cash and cash equivalents
      Piutang usaha                      1.121.787          1.134.793              1.121.787              1.134.793           Trade receivables
      Piutang lain-lain                        571              1.463                    571                  1.463           Other receivables
      Piutang pihak berelasi                     -                  7                      -                      7      Due from related party

      Jumlah Aset Keuangan               1.626.007          1.313.201              1.626.007              1.313.201       Total Financial Assets

      Liabilitas Keuangan                                                                                                 Financial Liabilities
      Utang bank jangka pendek             918.667          1.757.746                918.667              1.757.746       Short-term bank loans
      Utang usaha                          338.117            269.867                338.117                269.867              Trade payables
      Biaya masih harus dibayar             41.598             26.704                 41.598                 26.704           Accrued expenses
      Liabilitas jangka pendek lainnya      19.942             14.758                 19.942                 14.758      Other current liabilities
      Utang bank                                 -                708                      -                    708                  Bank loans
      Liabilitas sewa                       21.202             41.656                 21.202                 41.656              Lease liabilities
      Utang obligasi                     1.347.100            544.350              1.347.100                544.350               Bonds payable
      Utang sukuk                          202.000            315.650                202.000                315.650               Sukuk payable

      Jumlah Liabilitas Keuangan         2.888.626          2.971.439              2.888.626              2.971.439   Total Financial Liabilities


      Taksiran nilai wajar dari kelompok instrumen keuangan                       Estimated fair values of the financial instruments in the
      pada tabel di atas ditentukan dengan menggunakan                            table above is determined by using the following methods
      metode-metode dan asumsi-asumsi berikut:                                    and assumptions:

      (i) Nilai tercatat aset keuangan dan liabilitas keuangan                    (i) The carrying value of financial assets and financial
          seperti kas dan setara kas, piutang usaha, piutang                          liabilities such as cash and cash equivalents, trade
          lain-lain, piutang pihak berelasi dan liabilitas                            receivables, other receivables, due from related
          keuangan seperti utang bank jangka pendek, utang                            party, and financial liabilities of short-term bank
          usaha, biaya masih harus dibayar dan liabilitas                             loan, trade payables, accrued expenses and other
          jangka pendek lainnya tersebut merupakan perkiraan                          current liabilities are estimated to approximate their
          yang telah mendekati nilai wajarnya karena akan                             fair values, because these will mature in less than one
          jatuh tempo dalam waktu kurang dari satu tahun.                             year.

      (ii) Nilai wajar dari utang bank jangka panjang dan                         (ii) The fair value of long-term banks loans and lease
           liabilitas sewa, ditentukan menggunakan diskonto                            liabilities, are determined by using discounted cash
           arus kas berdasarkan tingkat suku bunga pasar pada                          flow using market interest rate as of December 31,
           tanggal 31 Desember 2024 dan 2023.                                          2024 and 2023.




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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                        STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                    As of and For The Year Ended
31 Desember 2024                                                                                         December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)
37.   NILAI WAJAR INSTRUMEN KEUANGAN -                                  37.     FAIR VALUE OF FINANCIAL INSTRUMENTS -
      Lanjutan                                                                  Continued

      Hirarki nilai wajar                                                       Fair value hierarchy

      Berikut adalah definisi hirarki nilai wajar instrumen                     Below are the definition of the fair value hierarchy of
      keuangan yang dimiliki Entitas dan Entitas Anak:                          financial instruments owned by the Entity and
                                                                                Subsidiary:

      -   Level 1: harga kuotasi (belum disesuaikan) pada                     - -   Level 1: quoted prices (unadjusted) in active markets
          pasar aktif untuk aset atau liabilitas yang identik.                      for identical assets or liabilities.
      -   Level 2: input selain harga kuotasi yang dimaksud                     -   Level 2: input other than quoted prices included
          dalam tingkat 1, yang dapat diobservasi untuk aset                        within Level 1 that are observable for the asset or
          atau liabilitas, baik secara langsung atau tidak                          liability, either directly or indirectly.
          langsung.
      -   Level 3: input yang tidak didasarkan pada data pasar                  -   Level 3: inputs are unobservable inputs for the asset
          yang dapat diobservasi.                                                   or liability.


38.   MANAJEMEN RISIKO KEUANGAN                                         38.     FINANCIAL RISK MANAGEMENT

      Dalam transaksi normal Entitas dan Entitas Anak, secara                   In a normal transaction, the Entity and Subsidiary are
      umum terekspos risiko keuangan sebagai berikut:                           generally exposed to financial risks as follows:

      a. Risiko pasar yang terdiri risiko nilai tukar mata uang               a. a. Market risks, including currency risk, interest rate
         asing, risiko suku bunga dan risiko harga.                                 risk and price risk.
      b. Risiko kredit.                                                          b. Credit risk.
      c. Risiko likuiditas.                                                      c. Liquidity risk.

      Catatan ini menjelaskan mengenai eksposur Entitas dan                     This note describes regarding the exposure of the Entity
      Entitas Anak terhadap masing-masing risiko di atas dan                    and Subsidiary towards each risk and quantitative
      pengungkapan secara kuantitatif termasuk seluruh                          disclosures including exposure risks and summarize the
      eksposur risiko serta merangkum kebijakan dan proses-                     policies and processes for measuring and managing the
      proses yang dilakukan untuk mengukur dan mengelola                        arising risk, including capital management.
      risiko yang timbul, termasuk yang terkait dengan
      pengelolaan modal.

      Direksi Entitas dan Entitas Anak bertanggung jawab                        The Entity and Subsidiary directors are responsible for
      dalam melaksanakan kebijakan manajemen risiko                             implementing risk management policies and overall
      keuangan Entitas dan Entitas Anak dan secara                              financial risk management program which focuses on
      keseluruhan program manajemen risiko keuangan                             uncertainty the financial market and minimize potential
      Entitas dan Entitas Anak difokuskan pada ketidakpastian                   losses that impact to the Entity and Subsidiary financial
      pasar keuangan dan meminimalisasi potensi kerugian                        performance.
      yang berdampak pada kinerja keuangan Entitas dan
      Entitas Anak.

      Kebijakan manajemen Entitas dan Entitas Anak                              The Entity and Subsidiary management policies
      mengenai risiko keuangan adalah sebagai berikut:                          regarding financial risks are as follows:

      a. Risiko Pasar                                                         b. a. Market Risks
                                                                              c.
          1) Risiko Nilai Tukar Mata Uang                                          d. 1) Foreign Exchange Risk
                                                                              e.
             Eksposur risiko nilai tukar mata uang Entitas dan                           The exposure of currency exchange risk of the
             Entitas Anak terutama disebabkan oleh utang                                 Entity and and Subsidiary, is primarily
             usaha dan utang bank yang sebagian                                          generated by trade payables and bank loan
             didenominasikan dalam Dolar Amerika Serikat.                                which are denominated in United States Dollar.
             Entitas dan Entitas Anak tidak melakukan                                   The Entity and Subsidiary do not take hedging on
             aktivitas lindung nilai terhadap porsi eksposur                            exposure to risk in foreign exchange rates,
             risiko nilai tukar mata uang asing, karena risiko                          because this risk is within the tolerable limit of
             ini masih dalam batas toleransi Entitas dan                                the Entity and Subsidiary.
             Entitas Anak.

                                                                  108
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                        STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                    As of and For The Year Ended
31 Desember 2024                                                                                         December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)
38.   MANAJEMEN RISIKO KEUANGAN - Lanjutan                              38.      FINANCIAL RISK MANAGEMENT - Continued
                                                                              f.
      a. Risiko Pasar – Lanjutan                                              g. a. Market Risks - Continued
                                                                              h.
         1) Risiko Nilai Tukar Mata Uang – Lanjutan                                i. 1) Foreign Exchange Risk - Continued
                                                                              j.
             Tabel berikut menyajikan aset dan liabilitas                                The following table presents the Entity and
             keuangan Entitas dan Entitas Anak yang                                      Subsidiary financial assets and financial
             didenominasi dalam mata uang asing:                                         liabilities denominated in foreign currency:

                                                     2024                                      2023
                                                            Ekuivalen/                            Ekuivalen/
                                                           Equivalent in                         Equivalent in
                                             USD                Rp                   USD              Rp

             Aset                                                                                                                  Assets
                                                                                                                                Cash and
             Kas dan setara kas                   380              6.143                 818             12.610        cash equivalents
             Piutang usaha                      2.556             41.317               3.689             56.872         Trade receivables
             Jumlah Aset                        2.936             47.460               4.507             69.482               Total Assets

             Liabilitas                                                                                                         Liabilities
             Utang usaha                       16.663          269.303                13.192           203.363             Trade payables
             Utang bank                        48.224          779.394                63.385           977.151                 Bank loans
             Jumlah liabilitas                 64.887        1.048.697                76.577          1.180.514            Total liabilities
             Jumlah Liabilitas - Neto          61.951        1.001.237                72.070          1.111.032     Total Liabilities - Net


             Nilai tukar mata uang asing yang signifikan                               Significant foreign exchanges rate during the
             selama tahun berjalan adalah sebagai berikut                              year are as follows (full Indonesian Rupiah):
             (dalam satuan Rupiah):

                                                  Kurs Rata-rata/                   Kurs Tanggal Laporan/
                                              Average Exchange Rate               Reporting Exchange Rate
                                               2024            2023                 2024            2023

             Dollar Amerika Serikat (USD)         15.906           15.219             16.162           15.416     United States Dollar (USD)


             Analisis Sensitivitas                                                     Sensitivity Analysis

             Pergerakan yang mungkin terjadi terhadap nilai                            Movement that may occur towards Rupiah
             tukar Rupiah, seperti yang diindikasikan pada                             exchange rate, as indicated in the table below
             tabel di bawah, terhadap mata uang Dolar                                  against US Dollar at the year end that could be
             Amerika Serikat pada tanggal akhir tahun dapat                            increased (decreased) equity or profit or loss
             meningkatkan (mengurangi) nilai ekuitas atau                              amount in the value presented in table.
             laba rugi sebesar nilai yang disajikan pada tabel.                        The analysis conducted was based on variance of
             Analisis ini dilakukan berdasarkan varians nilai                          foreign currency exchange rate during the
             tukar mata uang asing yang dipertimbangkan                                consolidated statement of financial position date.
             dapat terjadi pada tanggal laporan posisi
             keuangan konsolidasian.




                                                                  109
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
38.   MANAJEMEN RISIKO KEUANGAN - Lanjutan                             38.    FINANCIAL RISK MANAGEMENT - Continued

      a. Risiko Pasar - Lanjutan                                              a. Market Risks - Continued

         1) Risiko Nilai Tukar Mata Uang - Lanjutan                               1) Foreign Exchange Risk - Continued

             Analisis Sensitivitas – Lanjutan                                         Sensitivity Analysis – Continued

             Tabel berikut menunjukan sensitivitas perubahan                          The following table presented sensitivity
             kurs terhadap laba bersih dan ekuitas Entitas dan                        exchange rate changes on net income and equity
             Entitas Anak:                                                            of the Entity and Subsidiary:

                                                           2024                        2023

             Perubahan Nilai tukar                                                                              Changes in exchange
               (dalam USD)                                                                                          rates (in USD)
               Menguat                                            (557)                       (588)                    Appreciates
               Melemah                                             299                         211                     Depreciates
             Sensitivitas terhadap                                                                                Sensitivity to profit
               laba tahun berjalan                                                                                  for the current
               dan ekuitas                                                                                         year and equity
               Menguat                                              26                          32                     Appreciates
               Melemah                                             (14)                        (11)                   Depreciatess


         2) Risiko Tingkat Suku Bunga                                             2) Interest Rate Risk

             Eksposur Entitas dan Entitas Anak terhadap                               The Entity and Subsidiary exposure to
             fluktuasi tingkat suku bunga terutama berasal                            fluctuations of interest rate mainly arises from
             dari suku bunga mengambang atas utang bank                               floating interest rate of bank loan and financial
             dan lembaga keuangan. Beban bunga mengacu                                institutions. Interest expenses refer to the rate
             pada tingkat yang diterapkan untuk mata uang                             applied in Rupiah and US Dollar currency based
             Rupiah dan Dolar Amerika Serikat berdasarkan                             on bank policy, which depends on fluctuation of
             ketentuan setiap Bank, yang mana sangat                                  market interest rate.
             bergantung kepada fluktuasi bunga pasar.

             Entitas dan Entitas Anak melakukan pengawasan                            The Entity and Subsidiary are monitoring the
             pergerakan tingkat suku bunga untuk                                      movement of interest rate to minimize negative
             meminimalisasi dampak negatif terhadap posisi                            impact of financial position. The Entity and
             keuangan Entitas dan Entitas Anak. Untuk                                 Subsidiary analyze the movement of interest rate
             mengukur risiko pasar atas pergerakan suku                               margin and profile of financial assets and
             bunga, Entitas dan Entitas Anak melakukan                                financial liabilities maturity based on movement
             analisa pada pergerakan marjin suku bunga dan                            of interest rate schedule to measure the market
             pada profil jatuh tempo aset dan liabilitas                              risk of the interest rate movement.
             keuangan berdasarkan jadwal perubahan suku
             bunga.

             Pada tanggal laporan posisi keuangan                                     On the consolidated statement of financial
             konsolidasian, profil instrumen keuangan Entitas                         position date, the Entity’s and Subsidiary’s
             dan Entitas Anak yang dipengaruhi bunga                                  profile of financial instruments that are affected
             adalah:                                                                  by the interest are, as follows:




                                                                 110
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
38.   MANAJEMEN RISIKO KEUANGAN - Lanjutan                             38.     FINANCIAL RISK MANAGEMENT - Continued

      a. Risiko Pasar - Lanjutan                                             k. a. Market Risks - Continued

         2) Risiko Tingkat Suku Bunga - Lanjutan                                  2) Interest Rate Risk - Continued

                                                           2024                        2023

             Instrumen dengan
               bunga tetap                                                                                      Flat interest instrument
               Aset keuangan                                   55.103                      50.000                     Financial assets
               Liabilitas keuangan                            (21.202)                    (41.656)               Financial liabilities

             Instrumen dengan bunga                                                                                    Floating interest
               mengambang                                                                                                 instrument
               Aset keuangan                                 442.760                      125.065                    Financial assets
               Liabilitas keuangan                          (918.667)                  (1.758.454)                Financial liabilities

             Liabilitas Keuangan - Bersih                    (475.907)                  (1.633.389)         Financial Liabilities - Net


             Tabel berikut menyajikan sensitivitas perubahan                          The table summarizes the sensitivity to interest
             tingkat suku bunga yang mungkin terjadi,                                 rate changes that may occur, with other
             dengan variabel lain tetap konstan, terhadap laba                        variables held constant, towards the net income
             bersih Entitas dan Entitas Anak selama tahun                             of the Entity and Subsidiary during the year and
             berjalan dan ekuitas:                                                    equity, as follows:

                                                           2024                        2023

             Kenaikan (Penurunan)                                                                                   Increase (Decrease)
               tingkat suku bunga                                                                                          interest rate
               dalam basis poin:                                                                                        in basis point:
               Rupiah                                                    -                       125                            Rupiah
             Efek terhadap laba tahun                                                                          The effect on profit of the
               berjalan dan ekuitas:                                                                          current year and equity:
             Rupiah                                              20.441                     62.007                                Rupiah


         3) Risiko Harga Baja                                                     3) Steel Price Risk

             Risiko harga baja adalah risiko laba rugi atau                           Steel price risk is the risk to earnings or equity
             ekuitas yang timbul dari perubahan harga                                 arising from changes in commodity prices of
             komoditas baja di pasar dunia. Eksposur Entitas                          steel in the world market. The Entitiy’s and
             dan Entitas Anak terhadap risiko harga baja                              Subsidiary’s exposure to steel price risk
             terutama berkaitan dengan persediaan bahan                               primarily relates to a ready supply of raw
             baku yang siap di produksi dan barang jadi yang                          materials in the production and finished goods
             tersedia untuk dijual.                                                   available-for-sale.

      b. Risiko Kredit                                                       l. b. Credit Risk

         Risiko kredit merupakan risiko atas kerugian                             Credit risk represents the risk of financial loss of the
         keuangan Entitas dan Entitas Anak jika pelanggan                         Entity and Subsidiary if any customer or other party
         atau pihak lain dari instrumen keuangan gagal                            of a financial instrument fails to meet contractual
         memenuhi liabilitas kontraktualnya.                                      liabilities.




                                                                 111
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                        STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                    As of and For The Year Ended
31 Desember 2024                                                                                         December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)
38.   MANAJEMEN RISIKO KEUANGAN - Lanjutan                              38.     FINANCIAL RISK MANAGEMENT - Continued

      b. Risiko Kredit - Lanjutan                                               b. Credit Risk - Continued

         PT SEI, Entitas Anak, tidak terpengaruh oleh risiko                       PT SEI, Subsidiary, is not affected by credit risk due
         kredit karena penjualan dilakukan secara tunai dan                        to sales made in cash and payment in advance before
         pembayaran dilakukan di depan sebelum                                     delivery.
         pengiriman.

         Eksposur atas risiko kredit                                               Exposure of credit risk

         Nilai tercatat dari aset keuangan mencerminkan nilai                      The carrying amount of the financial asset reflects
         eksposur kredit maksimum. Nilai eksposur kredit                           the value of the maximum credit exposure. The
         maksimum pada tanggal laporan posisi keuangan                             maximum credit exposure value on the consolidated
         konsolidasian adalah sebagai berikut:                                     statement of financial position as follows:

                                                    Nilai Tercatat/Carrying Amount
                                                       2024                  2023

         Pinjaman yang diberikan
           dan piutang                                                                                           Loans and Receivables
         Piutang usaha                                   1.121.787                     1.134.793                     Trade receivables
         Bank                                              439.847                        78.800                         Cash in banks
         Piutang lain-lain                                     571                         1.463                      Other receivables
         Piutang pihak berelasi                                  -                             7                 Due from related party
         Jumlah                                          1.562.205                     1.215.063                                    Total

         Manajemen berkeyakinan bahwa cadangan kerugian                            Management believes that the allowance for
         penurunan nilai piutang tersebut cukup untuk                              impairment losses on receivables is adequate to
         menutup kemungkinan adanya kerugian atas tidak                            cover possible losses on uncollectible accounts
         tertagihnya piutang usaha.                                                receivable.

      c. Risiko Likuiditas                                                    m.c. Liquidity Risk

         Risiko likuiditas timbul jika Entitas dan Entitas Anak                    Liquidity risk arises if the Entity and Subsidiary are
         mengalami kesulitan untuk memenuhi liabilitas                             having difficulty to fulfill financial liabilities in
         keuangan sesuai dengan waktu maupun jumlah yang                           accordance with the time limit and previously agreed
         telah ditetapkan sebelumnya. Manajemen risiko                             amount. Management liquidity risk means
         likuiditas berarti menjaga kecukupan saldo kas dan                        maintaining sufficient cash and cash equivalents in
         setara kas dalam upaya pemenuhan liabilitas                               order to fulfill financial liabilities of the Entity and
         keuangan Entitas dan Entitas Anak. Entitas dan                            Subsidiary. The Entity and Subsidiary manage
         Entitas Anak mengelola risiko likuiditas dengan                           liquidity risk by monitoring forecast and actual cash
         pengawasan proyeksi dan arus kas aktual secara                            flows and continuous monitoring on the due dates of
         terus-menerus serta pengawasan tanggal jatuh tempo                        financial liabilities.
         liabilitas keuangan.

         Rincian kontraktual jatuh tempo liabilitas keuangan                       Details of the contractual maturities of financial
         (tidak termasuk bunga) yang dimiliki adalah sebagai                       liabilities (excluding interest) held are as follows:
         berikut:




                                                                  112
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                            PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                       ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                    NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                     STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                 As of and For The Year Ended
31 Desember 2024                                                                                      December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                 (Expressed in Millions of Rupiah, unless otherwise stated)
38.   MANAJEMEN RISIKO KEUANGAN - Lanjutan                         38.      FINANCIAL RISK MANAGEMENT - Continued
                                                                         n.
      c. Risiko Likuiditas - Lanjutan                                    o. c. Liquidity Risk - Continued

                                                   31 Desember 2024/December 31, 2024
                               Kurang dari   1 sampai     2 sampai     3 sampai     4 sampai       Lebih dari
                                1 tahun/     2 tahun/     3 tahun/     4 tahun/     5 tahun/        5 tahun/
                               Less than     1 up to      2 up to      3 up to      4 up to        More than
                                1 year       2 years      3 years      4 years      5 years         5 years
         Utang bank              918.667              -            -            -            -               -             Bank loans
         Utang usaha             338.117              -            -            -            -               -        Trade payables
         Biaya masih                                                                                                         Accrued
           harus dibayar           41.598            -             -              -            -             -             expenses
         Liabilitas jangka                                                                                             Other current
           pendek lainnya          19.942            -             -              -            -             -            liabilities
         Utang jangka                                                                                                       Long-term
           panjang:                                                                                                      liabilities:
           Bank                         -           -             -               -            -            -                Bank
           Liabilitas sewa         17.791       3.411             -               -            -            -      Lease liabilities
           Utang obligasi         135.000     211.300        33.780             800      766.220      200.000       Bonds payable
           Utang sukuk             50.000     141.100              -         10.900            -             -      Sukuk payable

         Jumlah                 1.521.115     355.811        33.780          11.700      766.220      200.000                    Total


                                                   31 Desember 2023/December 31, 2023
                               Kurang dari   1 sampai     2 sampai     3 sampai     4 sampai       Lebih dari
                                 1 tahun/    2 tahun/     3 tahun/     4 tahun/     5 tahun/        5 tahun/
                               Less than     1 up to      2 up to      3 up to      4 up to        More than
                                 1 year      2 years      3 years      4 years      5 years         5 years
         Utang bank             1.757.746             -            -            -            -               -            Bank loans
         Utang usaha              269.867             -            -            -            -               -       Trade payables
         Biaya masih                                                                                                        Accrued
           harus dibayar           26.704            -             -              -            -             -            expenses
         Liabilitas jangka                                                                                            Other current
           pendek lainnya          14.758            -             -              -            -             -           liabilities
         Utang jangka                                                                                                      Long-term
           panjang:                                                                                                     liabilities:
           Bank                       708           -            -                -           -              -               Bank
           Liabilitas sewa          7.406      20.407       13.843                -           -              -     Lease liabilities
           Utang obligasi         197.250     135.000      211.300                -         800              -      Bonds payable
           Utang sukuk            113.650      50.000      141.100                -       10.900             -      Sukuk payable

         Jumlah                 2.388.089     205.407      366.243                -       11.700             -                  Total




                                                             113
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                     PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                                ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                             NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                              STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                          As of and For The Year Ended
31 Desember 2024                                                                                               December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                            (Expressed in Millions of Rupiah, unless otherwise stated)
39.   PENGELOLAAN PERMODALAN                                                  39.    CAPITAL MANAGEMENT

      Tujuan utama Entitas dan Entitas Anak dalam hal                                The main objectives of the Entity and Subsidiary in
      pengelolaan modal adalah mengoptimalisasi saldo utang                          managing capital are to optimize the balance of debt and
      dan ekuitas Entitas dan Entitas Anak dalam rangka                              equity in order to maintain the Entity’s and Subsidiary’s
      mempertahankan perkembangan bisnis di masa depan                               future business growth and maximize the shareholder’s
      dan memaksimalkan nilai pemegang saham.                                        value.

      Entitas dan Entitas Anak mengelola struktur modal dan                          The Entity and Subsidiary manage their capital structure
      membuat penyesuaian yang diperlukan dengan                                     and makes necessary adjustments by considering the
      memperhatikan perubahan kondisi ekonomi dan tujuan                             changes in economic conditions and the Entity’s and
      strategis Entitas dan Entitas Anak.                                            Subsidiary’s strategic objectives.

      Untuk menjaga dan menyesuaikan struktur modal.                                 To maintain and adjust the capital structure, the Entity
      Entitas mungkin menerbitkan saham baru, memperoleh                             and Subsidiary may issue new shares, obtain new
      pinjaman baru atau melakukan pelunasan pinjaman.                               borrowings or make repayment.

                                                           2024                           2023

      Liabilitas Neto                                                                                                          Net Liabilities
        Jumlah Liabilitas                                    3.251.676                      3.353.362                      Total Liabilities
      Dikurangi: Kas dan setara kas                          (503.649)                      (176.938)         Less: Cash and cash equivalents

      Jumlah Liabilitas Neto                                 2.748.027                      3.176.424                      Total Net Liabilities

      Jumlah Ekuitas Disesuaikan                             3.823.159                      3.399.057                    Total Adjusted Equity

      Rasio Liabilitas terhadap
       Ekuitas Disesuaikan                                         0,72                          0,93           Debt to Adjusted Equity Ratio



40.   SEGMEN OPERASI                                                          40.    OPERATING SEGMENT

      Dalam mengidentifikasi segmen operasi Entitas dan                              In identifying the Entity and Subsidiary operating
      Entitas Anak, manajemen melihat dari jenis usaha                               segments, the management categorizes the Entity and
      berdasarkan sifat produk dan jasa yang mewakili                                Subsidiary business based on nature of the Entity and
      kegiatan utama usaha Entitas dan Entitas Anak yaitu pipa                       Subsidiary products and services that represent main
      baja las lurus, pipa baja las spiral, strip dan plat serta jasa                activities of the Entity and Subsidiary business: steel pipe
      dan lain-lain.                                                                 mill, spiral steel pipe mill, strips and plate and services
                                                                                     and others.




                                                                        114
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                       (Expressed in Millions of Rupiah, unless otherwise stated)
40.   SEGMEN OPERASI - Lanjutan                                          40.       OPERATING SEGMENT - Continued

      Informasi konsolidasian berdasarkan segmen operasi                           The following table sets forth the consolidated
      adalah sebagai berikut:                                                      information based on their operating segments:

                                                       31 Desember 2024/December 31, 2024
                                                      Pipa Baja                  Jasa dan
                                      Pipa Baja       Las Spiral/  Strip dan    Lain-Lain/
                                     Las Lurus/      Spiral Steel  Plat/Strips Services and          Jumlah/
                                   Steel Pipe Mill    Pipe Mill   and Plate       Others              Total

      Penjualan dan                                                                                                         Sales and service
        pendapatan jasa                4.467.000      1.023.136      590.299             37.929       6.118.364                   revenues
      Beban pokok pendapatan          (3.659.530)      (838.190)    (483.594)           (31.073)     (5.012.387)            Cost of revenues

      Laba kotor                        807.470         184.946      106.705              6.856      1.105.977                   Gross profit
      Pendapatan lain-lain                    -               -            -                  -        121.873                  Other income
      Beban penjualan dan                                                                                            Selling and distribution
        distribusi                              -             -                -              -       (159.646)                   expenses
      Beban umum dan                                                                                                             General and
        administrasi                            -             -                -              -       (125.254)    administrative expenses
      Beban keuangan                            -             -                -              -       (210.832)          Financial expenses
      Beban lain-lain                           -             -                -              -        (56.529)               Other expenses

      Laba sebelum taksiran                                                                                          Income before provision
        penghasilan (beban)                                                                                                for tax income
        pajak                                   -             -                -              -        675.589                   (expense)

      Jumlah taksiran beban                                                                                           Total provision for tax
        pajak                                   -             -                -              -       (145.526)                    expense
      Laba bersih tahun berjalan                                                                       530.063       Net income for the year

      Informasi-informasi lain                                                                                           Other Information
      Total aset                                -             -                -              -      8.295.427                   Total Assets
      Total liabilitas                          -             -                -              -      3.251.676                Total liabilities
      Ekuitas - neto                            -             -                -              -      5.043.751                    Equity - net
                                                                                                                            Depreciation and
      Penyusutan dan amortisasi                 -             -                -              -          3.558                amortization
      Penambahan aset tetap                     -             -                -              -        241.129       Additions of fixed assets




                                                                   115
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                                PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                           ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                        NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                         STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                     As of and For The Year Ended
31 Desember 2024                                                                                          December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                       (Expressed in Millions of Rupiah, unless otherwise stated)
40.   SEGMEN OPERASI - Lanjutan                                          40.       OPERATING SEGMENT - Continued

                                                       31 Desember 2023/December 31, 2023
                                                      Pipa Baja                  Jasa dan
                                      Pipa Baja       Las Spiral/  Strip dan    Lain-Lain/
                                     Las Lurus/      Spiral Steel  Plat/Strips Services and           Jumlah/
                                   Steel Pipe Mill    Pipe Mill   and Plate       Others               Total

      Penjualan dan                                                                                                            Sales and service
        pendapatan jasa                4.643.731      1.242.916      542.714              25.968       6.455.329                     revenues
      Beban pokok pendapatan          (3.875.316)    (1.037.246)    (452.909)            (21.671)     (5.387.142)              Cost of revenues

      Laba kotor                        768.415         205.670       89.805               4.297       1.068.187                    Gross profit
      Pendapatan lain-lain                    -               -            -                   -         143.118                   Other income
      Beban penjualan dan                                                                                               Selling and distribution
        distribusi                              -             -                -               -        (160.557)                    expenses
      Beban umum dan                                                                                                                General and
        administrasi                            -             -                -               -        (144.052)     administrative expenses
      Beban keuangan                            -             -                -               -        (237.188)           Financial expenses
      Beban lain-lain                           -             -                -               -         (28.924)                Other expenses

      Laba sebelum taksiran                                                                                             Income before provision
        penghasilan (beban)                                                                                                   for tax income
        pajak                                   -             -                -               -        640.584                     (expense)

      Jumlah taksiran beban                                                                                              Total provision for tax
        pajak                                   -             -                -               -        (142.525)                     expense
      Laba bersih tahun berjalan                                                                        498.059         Net income for the year

      Informasi-informasi lain                                                                                              Other Information
      Total aset                                -             -                -               -       7.971.708                    Total Assets
      Total liabilitas                          -             -                -               -       3.353.362                 Total liabilities
      Ekuitas - neto                            -             -                -               -       4.618.346                     Equity - net
                                                                                                                               Depreciation and
      Penyusutan dan amortisasi                 -             -                -               -          8.054                  amortization
      Penambahan aset tetap                     -             -                -               -        127.208         Additions of fixed assets


      Penjualan dan pendapatan jasa berdasarkan lokasi                             Sales and service revenues according to region based on
      pelanggan untuk tahun yang berakhir pada tanggal                             customers     location    for    the    years    ended
      31 Desember 2024 dan 2023 adalah sebagai berikut:                            December 31, 2024 and 2023 are as follows:

                                                          2024                         2023

      Lokal                                                                                                                       Domestic
      Jawa Timur                                            1.968.307                    2.117.867                                East Java
      DKI Jakarta                                           1.837.040                    1.932.821                              DKI Jakarta
      Jawa Barat dan Banten                                 1.088.604                    1.211.696                     West Java and Banten
      Jawa Tengah dan Yogyakarta                              355.321                      302.068              Central Java and Yogyakarta
      Wilayah Kalimantan                                      238.138                      195.880                       Kalimantan Region
      Wilayah Sumatera                                        183.051                      177.120                         Sumatera Region
      Wilayah Sulawesi                                        167.187                      213.562                          Sulawesi Region
      Wilayah Lainnya                                         103.787                       61.457                                   Others
      Sub-jumlah                                            5.941.435                    6.212.471                                    Sub-total
      Ekspor                                                  176.929                      242.858                                      Export
      Jumlah                                                6.118.364                    6.455.329                                         Total




                                                                   116
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                              PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                         ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                      NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                       STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                   As of and For The Year Ended
31 Desember 2024                                                                                        December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                     (Expressed in Millions of Rupiah, unless otherwise stated)
41.   REKONSILIASI             ARUS    KAS       AKTIVITAS             41.     RECONCILIATION OF CASH                 FLOW        FROM
      PENDANAAN                                                                FINANCING ACTIVITIES

                                                                             Perubahan
                                                                              non-kas/
                                   1 Januari 2024/    Arus kas/              Non-cash      31 Desember 2024/
                                  January 1, 2023    Cash flows              changes       December 31, 2024

      Liabilitas sewa                       41.656          (21.409)               955                 21.202             Lease liabilities
      Utang bank jangka pendek           1.757.746         (845.786)             6.707                918.667      Short-term bank loans
      Utang bank jangka panjang                708             (708)                 -                      -      Long-term bank loans
      Utang obligasi                       544.350          802.750                  -              1.347.100              Bonds payable
      Utang sukuk                          315.650         (113.650)                 -                202.000              Sukuk payable

      Jumlah liabilitas dari                                                                                         Total liabilities from
        aktivitas pendanaan              2.660.110         (178.803)             7.662              2.488.969       financing activities


                                                                             Perubahan
                                                                              non-kas/
                                   1 Januari 2023/    Arus kas/              Non-cash      31 Desember 2023/
                                  January 1, 2023    Cash flows              changes       December 31, 2023

      Liabilitas sewa                       61.883          (20.569)               342                 41.656             Lease liabilities
      Utang bank jangka pendek           2.069.716         (306.437)            (5.533)             1.757.746      Short-term bank loans
      Utang bank jangka panjang             89.038          (88.330)                 -                    708      Long-term bank loans
      Utang obligasi                       199.000          345.350                  -                544.350              Bonds payable
      Utang sukuk                          201.000          114.650                  -                315.650              Sukuk payable
      Utang pihak berelasi                   6.205           (6.205)                 -                    -        Due to related parties

      Jumlah liabilitas dari                                                                                         Total liabilities from
        aktivitas pendanaan              2.626.842          38.459              (5.191)             2.660.110       financing activities



42.   TRANSAKSI NON KAS                                                42.     NON-CASH TRANSACTIONS

      Untuk tahun yang berakhir 31 Desember 2024 dan 2023,                     For the years ended December 31, 2024 and 2023, the
      terdapat beberapa akun dalam laporan keuangan yang                       addition of several accounts in the financial statements,
      penambahannya merupakan aktivitas yang tidak                             represents activity that does not affect cash flows. The
      mempengaruhi arus kas. Akun-akun tersebut adalah                         accounts are as follows:
      sebagai berikut:

                                                     2024                           2023

      Penambahan aset tetap non kas                                                                     Addition of property, plant and
       (lihat Catatan 12)                                  63.183                         64.123   equipment non cash (see Note 12)
      Penambahan aset sewa                                                                         Acquisitions of assets under finance
       pembiayaan melalui liabilitas                                                                   lease through lease liabilities
       sewa (lihat Catatan 12)                                959                           342                         (see Note 12)




                                                               117
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                          ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                       NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                        STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                    As of and For The Year Ended
31 Desember 2024                                                                                         December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                      (Expressed in Millions of Rupiah, unless otherwise stated)
43.   INFORMASI TAMBAHAN                                                43.    SUPPLEMENTARY INFORMATION

      Informasi keuangan Entitas (entitas induk) terlampir                     The accompanying financial information of the Entity
      yang terdiri dari laporan posisi keuangan tanggal                        (parent), which comprises the statement of financial
      31 Desember 2024 dan 2023, serta laporan laba rugi dan                   position as of December 31, 2024 and 2023 and the
      penghasilan komprehensif lain, laporan perubahan                         statement of profit or loss and other comprehensive
      ekuitas, dan laporan arus kas untuk tahun yang berakhir                  income, statement of changes in equity, and statement of
      pada tanggal tersebut (secara kolektif disebut sebagai                   cash flows for the years ended (collectively referred as
      “Informasi Keuangan Entitas Induk”) yang disajikan                       “Parent Financial Information”) which are presented as
      sebagai informasi tambahan terhadap laporan keuangan                     supplementary information to the consolidated financial
      konsolidasian, disajikan untuk tujuan analisis tambahan                  statement, is presented for the purposes of additional
      dan bukan merupakan bagian dari laporan keuangan                         analysis and is not a required part of the consolidated
      konsolidasian yang diharuskan menurut Standar                            financial statements under Indonesian Financial
      Akuntansi Keuangan di Indonesia. Informasi Keuangan                      Accounting Standards. The Parent Financial
      Entitas Induk merupakan tanggung jawab dari                              Information is the responsibility of management and was
      manajemen serta dihasilkan dari dan berkaitan secara                     derived from and relates directly to the underlying
      langsung dengan catatan akuntansi dan catatan lainnya                    accounting and other records used to prepare the
      yang mendasarinya yang digunakan untuk menyusun                          consolidated financial statements.
      laporan keuangan konsolidasian.


44.   KOMITMEN DAN KONTINJENSI                                          44.    COMMITMENT AND CONTINGENCY

      Komitmen                                                                 Commitment

      Komitmen Jual                                                            Sales Commitment

      Entitas berkomitmen untuk menjual pipa baja kepada                       The Entity is committed to selling steel pipes to all of its
      semua pelanggannya, tidak terdapat penjualan yang                        customers, no sales are bound by a sales contract. But
      diikat dengan kontrak penjualan. Namun hanya terikat                     only tied to a regular purchase order.
      dengan pesanan pembelian biasa.

      Komitmen Beli                                                            Purchase Commitment

      Entitas berkomitmen untuk membeli coil dan strip                         The Entity is committed to purchasing coils and strips
      kepada pemasok lokal dan pemasok impor. Pemasok                          from local suppliers and imported suppliers. Local
      lokal yaitu PT Krakatau Steel Tbk, PT Sarana Steel,                      suppliers are PT Krakatau Steel Tbk, PT Sarana Steel,
      PT Gunung Raja Paksi, PT Essar Indonesia, dan                            PT Gunung Raja Paksi, PT Essar Indonesia, and
      PT Jindal Stainless Indonesia. Sedangkan pemasok                         PT Jindal Stainless Indonesia. Meanwhile, import
      impor yaitu Hyundai Steel, JFE, Posco, dan Arcelor.                      suppliers are Hyundai Steel, JFE, Posco, and Arcelor.

      Kontinjensi                                                              Contingency

      Pada saat laporan keuangan ini diterbitkan, Entitas tidak                At the time the financial statements are published, the
      sedang tersangkut perkara pidana, perkara perdata,                       Entity is not involved in any criminal, civil, or
      administratif dengan instansi pemerintah yang                            administrative cases with the relevant government
      berwenang. Demikian pula Entitas tidak pernah                            authorities. Similarly Entities has never been declared
      dinyatakan pailit atas baik permohonan sendiri maupun                    bankrupt over a request either own or at the request of
      permohonan pihak lain. Bahwa Entitas tidak pernah                        the other party and that the Company or management is
      dihukum karena melakukan tindak pidana yang                              not been convicted of a crime that harms the State.
      merugikan Negara.




                                                                  118
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk DAN                           PT STEEL PIPE INDUSTRY OF INDONESIA Tbk AND
ENTITAS ANAKNYA                                                                                      ITS SUBSIDIARY
CATATAN ATAS LAPORAN KEUANGAN                                                   NOTES TO CONSOLIDATED FINANCIAL
KONSOLIDASIAN - Lanjutan                                                                    STATEMENTS - Continued
Pada dan Untuk Tahun Yang Berakhir Tanggal                                                As of and For The Year Ended
31 Desember 2024                                                                                     December 31, 2024

(Disajikan dalam Jutaan Rupiah, kecuali dinyatakan lain)                  (Expressed in Millions of Rupiah, unless otherwise stated)
45.   PERISTIWA SETELAH TANGGAL PELAPORAN                           45.    EVENT AFTER REPORTING PERIOD

      PT Bank Central Asia Tbk                                             PT Bank Central Asia Tbk

      Berdasarkan surat No. 30095/GBK/2025 tanggal                         Based on letter No. 30095/GBK/2025 dated February 20,
      20 Februari 2025 mengenai pemberitahuan perpanjangan                 2025 regarding the notice of extension of credit facility,
      fasilitas kredit, Bank setuju untuk memperpanjang                    the Bank agreed to extend the term of the credit facility,
      jangka waktu fasilitas kredit, dengan rincian sebagai                with details as follows:
      berikut:

                         Fasilitas/                        Maksimum Kredit/                           Jatuh Tempo/
                        Facilities                         Maximum Credit                             Maturity Date

      Valuta asing/Foregn Exchange                           USD 20.000                                 28 Mei 2025/May 28, 2025
      Kredit Lokal/Local Credit                               Rp 100.000                                28 Mei 2025/May 28, 2025
      Kredit Multi Facility/Multy Facility Credit            USD 155.000                                28 Mei 2025/May 28, 2025
      Time Loan Revolving                                     Rp 440.000                                28 Mei 2025/May 28, 2025
      Bank Garansi/Bank Guarantee                             Rp 30.000                                 28 Mei 2025/May 28, 2025
      Nego/Diskonto/Negotiation /Discounts                    USD 5.000                                 28 Mei 2025/May 28, 2025
      Kredit Investasi 6/Investment Credit 6                  Rp 105.000                                28 Mei 2025/May 28, 2025

      PT Bank Shinhan Indonesia                                            PT Bank Shinhan Indonesia

      Berdasarkan surat SPINDO No. 072/FIN/II/2025 tanggal                 Based on SPINDO's letter No. 072/FIN/II/2025 dated
      26 Februari 2025 kepada PT Bank Shinhan Indonesia                    February 26, 2025 to PT Bank Shinhan Indonesia not to
      untuk tidak memperpanjang fasilitas kredit.                          extend the credit facility.

      PT Bank CTBC Indonesia                                               PT Bank CTBC Indonesia

      Berdasarkan surat No. O32ICOMMBIISBY lIl/2O25                        Based on letter No. O32ICOMMBIISBY lIl/2O25 dated
      tanggal 25 Februari 2025 mengenai pemberitahuan                      February 25, 2025 regarding the notice of extension of
      perpanjangan fasilitas kredit, Bank setuju untuk                     the credit facility, the Bank agreed to extend the term of
      memperpanjang jangka waktu fasilitas kredit, dengan                  the credit facility, with details as follows:
      rincian sebagai berikut:


                                                                             Maksimum Kredit/                 Jatuh Tempo/
                            Fasilitas/Facilities                             Maximum Credit                   Maturity Date

                                                                                                           19 Februari 2026/
       Fasilitas Omnibus Credit/Omnibus Credit Facility                          USD 5.000
                                                                                                           February 19, 2026
       Fasilitas Transaksi Valuta Asing/Foreign Exchange                                                   19 Februari 2026/
                                                                                  USD 500
       Transaction Facility                                                                                February 19, 2026


46.   PENYELESAIAN             LAPORAN             KEUANGAN         46.    COMPLETION OF CONSOLIDATED FINANCIAL
      KONSOLIDASIAN                                                        STATEMENTS

      Manajemen Entitas dan Entitas Anak bertanggung jawab                 The management of the Entity and Subsidiary are
      atas penyusunan laporan keuangan konsolidasian yang                  responsible for the preparation of the consolidated
      telah diselesaikan pada tanggal 14 Maret 2025.                       financial statements which were completed on
                                                                           March 14, 2025.




                                                              119
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk
(ENTITAS INDUK)                                                                                (PARENT ONLY)
INFORMASI TAMBAHAN                                                               SUPPLEMENTARY INFORMATION
LAPORAN POSISI KEUANGAN                                                     STATEMENT OF FINANCIAL POSITION
31 DESEMBER 2024                                                                            DECEMBER 31, 2024


(Disajikan dalam Jutaan Rupiah dan Ribuan Mata Uang Asing, (Expressed in Millions of Indonesian Rupiah and Thousands of
kecuali dinyatakan lain)                                                       Foreign Currency, unless otherwise stated)
                                                2024                2023

ASET                                                                                                              ASSETS
ASET LANCAR                                                                                           CURRENT ASSETS
Kas dan setara kas                                 502.640              175.976                Cash on hand and in banks
Piutang usaha                                                                                          Trade receivables
  Pihak ketiga                                   1.084.569            1.102.352                           Third parties
  Pihak berelasi                                    37.129               32.386                         Related parties
Piutang lain-lain                                                                                       Other receivables
  Pihak ketiga                                         572                1.446                           Third parties
Persediaan                                       3.519.974            3.676.658                               Inventories
Pajak dibayar di muka                                    -                5.551                            Prepaid taxes
Uang muka                                           37.649               10.000                                 Advances
Biaya dibayar di muka                               70.573               69.138                         Prepaid expenses
Jumlah Aset Lancar                               5.253.106            5.073.507                       Total Current Assets

ASET TIDAK LANCAR                                                                              NON-CURRENT ASSETS
Piutang pihak berelasi                                 915                  669                     Due from related party
Investasi pada entitas asosiasi                     39.579               35.529                  Investments in associates
Penyertaan saham                                       900                  900                           Stock investment
Aset tetap - neto                                2.529.331            2.450.464        Property, plant and equipment - net
Properti investasi - neto                            9.067                9.067                Investment properties - net
Aset takberwujud - neto                              1.731                2.772                      Intangible assets - net
Uang muka                                          461.478              399.295                                  Advances
Jumlah Aset Tidak Lancar                         3.043.001            2.898.696                  Total Non-Current Assets
JUMLAH ASET                                      8.296.107            7.972.203                          TOTAL ASSETS




                                                           120
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PT STEEL PIPE INDUSTRY OF INDONESIA                                    PT STEEL PIPE INDUSTRY OF INDONESIA
(ENTITAS INDUK)                                                                              (PARENT ONLY)
INFORMASI TAMBAHAN                                                            SUPPLEMENTARY INFORMATION
LAPORAN POSISI KEUANGAN - Lanjutan                               STATEMENT OF FINANCIAL POSITION - Continued
31 DESEMBER 2024                                                                          DECEMBER 31, 2024


(Disajikan dalam Jutaan Rupiah dan Ribuan Mata Uang Asing, (Expressed in Millions of Indonesian Rupiah and Thousands of
kecuali dinyatakan lain)                                                       Foreign Currency, unless otherwise stated)
                                                2024                 2023

LIABILITAS DAN EKUITAS                                                                      LIABILITIES AND EQUITY
LIABILITAS                                                                                                  LIABILITIES
LIABILITAS JANGKA PENDEK                                                                        CURRENT LIABILITIES
Utang bank jangka pendek                           918.667            1.757.746                     Short-term bank loans
Utang usaha                                                                                                Trade payables
  Pihak ketiga                                     336.992              269.277                            Third parties
  Pihak berelasi                                     1.125                  590                          Related parties
Utang pajak                                         31.412               59.258                             Taxes payable
Beban masih harus dibayar                           41.515               26.629                         Accrued expenses
Uang muka pelanggan                                 58.618               36.144                    Advance from customer
Liabilitas jangka pendek lainnya                    19.941               14.757                   Other current liabilities
Bagian lancar atas liabilitas                                                              Current maturities of long-term
  jangka panjang:                                                                                            liabilities:
  Bank                                                   -                  708                                     Bank
  Liabilitas sewa                                   17.791               21.266                        Lease liabilities
  Utang obligasi                                   135.000              197.250                          Bonds payable
  Utang sukuk ijarah                                50.000              113.650                    Sukuk ijarah payable
Jumlah Liabilitas Jangka Pendek                   1.611.061           2.497.275                   Total Current Liabilities

LIABILITAS JANGKA PANJANG                                                                 NON-CURRENT LIABILITIES
Utang jangka panjang - setelah dikurangi                                              Long-term liabilities - net of current
  bagian jatuh tempo dalam satu tahun:                                                   maturities within 1 (one) year:
  Liabilitas sewa                                     3.411              20.390                          Lease liabilities
  Utang obligasi                                  1.212.100             347.100                           Bonds payable
  Utang sukuk ijarah                                152.000             202.000                    Sukuk ijarah payable
Liabilitas pajak tangguhan                          185.533             199.755                     Deferred tax liabilities
Liabilitas imbalan kerja karyawan                    87.484              86.759         Liabilities for employees' benefits
Jumlah Liabilitas Jangka Panjang                  1.640.528             856.004              Total Non-Current Liabilities
JUMLAH LIABILITAS                                 3.251.589           3.353.279                    TOTAL LIABILITIES




                                                           121
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PT STEEL PIPE INDUSTRY OF INDONESIA                                      PT STEEL PIPE INDUSTRY OF INDONESIA
(ENTITAS INDUK)                                                                                (PARENT ONLY)
INFORMASI TAMBAHAN                                                              SUPPLEMENTARY INFORMATION
LAPORAN POSISI KEUANGAN - Lanjutan                                 STATEMENT OF FINANCIAL POSITION - Continued
31 DESEMBER 2024                                                                            DECEMBER 31, 2024


(Disajikan dalam Jutaan Rupiah dan Ribuan Mata Uang Asing, (Expressed in Millions of Indonesian Rupiah and Thousands of
kecuali dinyatakan lain)                                                       Foreign Currency, unless otherwise stated)
                                                2024                 2023

EKUITAS                                                                                                          EQUITY
Modal saham - nilai nominal                                                                       Capital stock - par value
  Rp 100 per saham (Rupiah penuh)                                                         Rp 100 per share (full amount)
  Modal dasar - 17.000.000.000                                                       Authorized capital - 17,000,000,000
  saham Modal ditempatkan dan disetor                                                       shares Issued and fully paid
  penuh - 7.185.992.035 saham                      718.599             718.599            capital - 7,185,992,035 shares
Tambahan modal disetor - neto                      500.880             500.880             Additional paid-in capital - net
Saham treasuri - 120.651.300 saham                 (12.065)            (12.065)       Treasury stocks - 120,651,300 shares
Saldo laba                                                                                               Retained earnings
  Ditentukan penggunaannya                          40.000               30.000                             Appropriated
  Tidak ditentukan penggunaannya                 2.576.526            2.162.254                          Unappropriated
Komponen ekuitas lainnya                         1.220.578            1.219.256                   Other equity components
JUMLAH EKUITAS                                   5.044.518            4.618.924                          TOTAL EQUITY
JUMLAH LIABILITAS                                                                                   TOTAL LIABILITIES
 DAN EKUITAS                                     8.296.107            7.972.203                         AND EQUITY




                                                             122
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk                               PT STEEL PIPE INDUSTRY OF INDONESIA Tbk
(ENTITAS INDUK)                                                                                (PARENT ONLY)
INFORMASI TAMBAHAN                                                               SUPPLEMENTARY INFORMATION
LAPORAN LABA RUGI DAN PENGHASILAN                                    STATEMENT OF PROFIT OR LOSS AND OTHER
KOMPREHENSIF LAIN                                                                     COMPREHENSIVE INCOME
UNTUK TAHUN YANG BERAKHIR                                                                FOR THE YEAR ENDED
TANGGAL 31 DESEMBER 2024                                                                    DECEMBER 31, 2024

(Disajikan dalam Jutaan Rupiah dan Ribuan Mata Uang Asing, (Expressed in Millions of Indonesian Rupiah and Thousands of
kecuali dinyatakan lain)                                                       Foreign Currency, unless otherwise stated)

                                                2024                 2023

PENJUALAN DAN                                                                                      SALES AND SERVICE
 PENDAPATAN JASA                                 6.118.232            6.455.275                           REVENUES
BEBAN POKOK PENDAPATAN                          (5.012.387)          (5.387.142)                   COST OF REVENUES
LABA BRUTO                                      1.105.845            1.068.133                          GROSS PROFIT

Pendapatan lain-lain                               121.863              143.104                             Other income
Beban penjualan dan distribusi                   (159.363)            (160.302)         Selling and distribution expenses
Beban umum dan administrasi                      (125.206)            (143.953)      General and administrative expenses
Beban keuangan                                   (210.832)            (237.188)                       Financial expenses
Beban lain-lain                                   (56.529)             (28.923)                            Other expenses
LABA SEBELUM                                                                                         INCOME BEFORE
 TAKSIRAN PENGHASILAN                                                                            PROVISION FOR TAX
 (BEBAN) PAJAK                                    675.778              640.871                    INCOME (EXPENSE)

TAKSIRAN PENGHASILAN                                                                               PROVISION FOR TAX
 (BEBAN) PAJAK:                                                                                  INCOME (EXPENSE):
 Kini                                            (160.121)            (156.327)                              Current
 Tangguhan                                          14.595               13.802                            Deferred
JUMLAH TAKSIRAN                                                                                 TOTAL PROVISION FOR
  BEBAN PAJAK                                     (145.526)           (142.525)                       TAX EXPENSE
LABA TAHUN BERJALAN                               530.252              498.346               INCOME FOR THE YEAR

PENGHASILAN                                                                                 OTHER COMPREHENSIVE
 KOMPREHENSIF LAIN                                                                                     INCOME
POS-POS YANG TIDAK AKAN                                                                              ITEM NOT TO BE
 DIREKLASIFIKASI KE                                                                               RECLASSIFIED TO
 LABA RUGI                                                                                          PROFIT OR LOSS
Keuntungan (kerugian) aktuaria                         1.695            23.262                     Actuarial gain (losses)

Pajak penghasilan terkait pos-pos yang                                                   Income tax related to item not to
  tidak akan direklasifikasi ke laba rugi              (373)             (5.118)         be reclassified to profit or loss
PENGHASILAN KOMPREHENSIF                                                                    OTHER COMPREHENSIVE
 LAIN                                                  1.322            18.144                         INCOME
JUMLAH LABA KOMPREHENSIF                                                                    TOTAL COMPREHENSIVE
 TAHUN BERJALAN                                   531.574              516.490             INCOME FOR THE YEAR




                                                               123
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk                                                                                                                        PT STEEL PIPE INDUSTRY OF INDONESIA Tbk
(ENTITAS INDUK)                                                                                                                                                                          (PARENT ONLY)
INFORMASI TAMBAHAN                                                                                                                                                       SUPPLEMENTARY INFORMATION
LAPORAN PERUBAHAN EKUITAS                                                                                                                                             STATEMENT OF CHANGE IN EQUITY
UNTUK TAHUN YANG BERAKHIR TANGGAL                                                                                                                                                 FOR THE YEAR ENDED
31 DESEMBER 2024                                                                                                                                                                     DECEMBER 31, 2024

                                                                                                                     (Expressed in Millions of Indonesian Rupiah and Thousands of Foreign Currency, unless
(Disajikan dalam Jutaan Rupiah dan Ribuan Mata Uang Asing, kecuali dinyatakan lain)                                                                                                       otherwise stated)

                                                                                                Komponen Ekuitas Lainnya/
                                      Modal                Tambahan                              Other Equity Components
                                Ditempatkan dan         Modal Disetor-                          Surplus           Kerugian           Saldo Laba/Retained Earnings
                                  Disetor Penuh/              Neto/             Saham          Revaluasi/         Aktuaria/         Ditentukan        Tidak ditentukan
                                Issued and Fully       Additional Paid-in      Treasuri/      Revaluation        Actuarial        penggunaannya/      penggunaannya/     Jumlah Ekuitas/
                                  Paid Capital            Capital-Net       Treasury Stocks     Surplus            Losses          Appropriated       Unappropriated      Total Equity

                                                                                                                                                                                                         Balance as of
Saldo per 1 Januari 2023                 718.599                 500.880           (12.065)      1.221.713             (20.601)            20.000           1.716.300         4.144.826              January 1, 2023

Penghasilan komprehensif
  lain                                             -                    -                 -               -            18.144                   -                    -           18.144     Other comprehensive income

Pembentukan cadangan umum                          -                    -                 -               -                   -            10.000             (10.000)                 -   Allocation for general reserve

Dividen                                            -                    -                 -               -                   -                 -             (42.392)          (42.392)                       Dividend

Laba bersih tahun berjalan                         -                    -                 -               -                   -                 -             498.346           498.346          Net income for the year

Saldo per                                                                                                                                                                                               Balance as of
  31 Desember 2023                       718.599                 500.880           (12.065)      1.221.713              (2.457)            30.000           2.162.254         4.618.924           December 31, 2023

Penghasilan komprehensif
  lain                                             -                    -                 -               -              1.322                  -                    -            1.322     Other comprehensive income

Pembentukan cadangan umum                          -                    -                 -               -                   -            10.000             (10.000)                 -   Allocation for general reserve

Dividen                                            -                    -                 -               -                   -                 -            (105.980)         (105.980)                       Dividend

Laba bersih tahun berjalan                         -                    -                 -               -                   -                 -             530.252           530.252          Net income for the year

Saldo per                                                                                                                                                                                               Balance as of
  31 Desember 2024                       718.599                 500.880           (12.065)      1.221.713              (1.135)            40.000           2.576.526         5.044.518           December 31, 2024




                                                                                                        124
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk                                 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk
(ENTITAS INDUK)                                                                                 (ENTITAS INDUK)
INFORMASI TAMBAHAN                                                                 SUPPLEMENTARY INFORMATION
LAPORAN ARUS KAS                                                                      STATEMENT OF CASH FLOWS
UNTUK TAHUN YANG BERAKHIR                                                                  FOR THE YEAR ENDED
TANGGAL 31 DESEMBER 2024                                                                      DECEMBER 31, 2024

(Disajikan dalam Jutaan Rupiah dan Ribuan Mata Uang Asing,        (Expressed in Millions of Indonesian Rupiah and Thousands
kecuali dinyatakan lain)                                                        of Foreign Currency, unless otherwise stated)

                                               2024                    2023

ARUS KAS DARI                                                                                       CASH FLOWS FROM
  AKTIVITAS OPERASI                                                                            OPERATING ACTIVITIES
Penerimaan kas dari pelanggan                  6.158.930                6.500.401               Cash receipt from customers
Pembayaran kas kepada                                                                                Cash paid to suppliers
  pemasok, karyawan dan lain-lain              (4.917.350)             (6.049.831)                  employees and others
Kas yang dihasilkan dari operasi               1.241.580                  450.570             Cash generated from operations

Pembayaran beban keuangan                       (210.833)                (237.188)               Payment of finance expenses
Pembayaran pajak penghasilan                    (138.910)                (102.416)                    Payment of income tax
Penerimaan dari restitusi pajak                        -                   90.598                       Receipt of tax refund
Penerimaan penghasilan keuangan                    1.427                      282                  Receipt of finance income
Arus Kas Neto Diperoleh dari                                                                     Net Cash Flows Provided by
 Aktivitas Operasi                               893.264                  201.846                     Operating Activities
ARUS KAS DARI                                                                                        CASH FLOWS FROM
 AKTIVITAS INVESTASI                                                                           INVESTING ACTIVITIES
                                                                                             Proceeds from sale of property,
Hasil penjualan aset tetap                            225                        -                     plant and equipment
                                                                                                    Acquisitions of property,
Perolehan aset tetap                            (180.838)                 (63.087)                     plant and equipment
Penambahan uang muka                                                                       Addition on advances of property,
  pembelian aset tetap                            (83.523)                  (2.956)                    plant and equipment
Penambahan aset tidak lancar lainnya                 (641)                       -       Addition of other non-current assets
Pengurangan aset tidak lancar lainnya                   -                    3.853       Decrease of other non-current assets
Pembayaran piutang berelasi                          (246)                    (227)            Payment of related receivable
Arus Kas Neto Digunakan untuk                                                                         Net Cash Flows Used in
 Aktivitas Investasi                            (265.023)                 (62.417)                      Investing Activities




                                                            125
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk                                 PT STEEL PIPE INDUSTRY OF INDONESIA Tbk
(ENTITAS INDUK)                                                                                 (ENTITAS INDUK)
INFORMASI TAMBAHAN                                                                 SUPPLEMENTARY INFORMATION
LAPORAN ARUS KAS - Lanjutan                                                 STATEMENT OF CASH FLOWS - Continued
UNTUK TAHUN YANG BERAKHIR                                                                  FOR THE YEAR ENDED
TANGGAL 31 DESEMBER 2024                                                                      DECEMBER 31, 2024

(Disajikan dalam Jutaan Rupiah dan Ribuan Mata Uang Asing,        (Expressed in Millions of Indonesian Rupiah and Thousands
kecuali dinyatakan lain)                                                        of Foreign Currency, unless otherwise stated)

                                               2024                    2023

ARUS KAS DARI                                                                                         CASH FLOWS FROM
  AKTIVITAS PENDANAAN                                                                           FINANCING ACTIVITIES
Pembayaran liabilitas sewa                       (21.409)                 (20.569)                Payment of lease liabilities
Pembayaran dividen                              (105.980)                 (42.392)                          Dividend payment
Penambahan bersih dari utang bank                                                                Net increase from short-term
  jangka pendek                                4.548.920                6.711.771                                bank loans
Penurunan bersih dari utang bank                                                                                Decrease from
  jangka pendek                                (5.394.706)             (7.018.208)                    short-term bank loans
Penerimaan utang obligasi                       1.000.000                 360.350                       Receipt bonds payable
Pembayaran utang obligasi                        (197.250)                (15.000)                    Payment bonds payable
Biaya emisi obligasi                              (17.078)                 (4.922)                       Bonds issuance costs
Penerimaan utang sukuk                                  -                 214.650                       Receipt sukuk payable
Pembayaran utang sukuk                           (113.650)               (100.000)                     Payment sukuk payable
Biaya emisi sukuk                                       -                  (3.764)                       Sukuk issuance costs
Pembayaran untuk utang                                                                                  Payments to long-term
  bank jangka panjang                                 (708)               (88.330)                               bank loans
Pembayaran utang pihak berelasi                          -                 (6.205)             Payment of debt related parties
Arus Kas Neto Digunakan untuk                                                                         Net Cash Flows Used in
 Aktivitas Pendanaan                            (301.861)                 (12.619)                     Financing Activities
KENAIKAN NETO                                                                               NET INCREASE IN CASH AND
 KAS DAN SETARA KAS                              326.380                  126.810                 CASH EQUIVALENTS
KAS DAN SETARA KAS                                                                       CASH AND CASH EQUIVALENTS
 AWAL TAHUN                                      175.976                   49.166            AT BEGINNING OF YEAR
                                                                                                EFFECTS OF EXCHANGE
DAMPAK PERUBAHAN KURS                                                                          DIFFERENCES ON CASH
 PADA KAS DAN SETARA KAS                              284                        -            AND CASH EQUIVALENTS
KAS DAN SETARA KAS                                                                       CASH AND CASH EQUIVALENTS
 AKHIR TAHUN                                     502.640                  175.976              AT THE END OF YEAR




                                                            126
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PT STEEL PIPE INDUSTRY OF INDONESIA Tbk
SPINDO Head Office                     SPINDO Jakarta Office            SPINDO Karawang (SKF)
Jl. Kalibutuh No. 189 - 191,           Gedung Baja, Lt. 7               Kawasan Industri Mitrakarawang (KIM),
Surabaya 60173, East Java, Indonesia   Jl. Pangeran Jayakarta No. 55    Jl. Mitra Raya No. II Blok F2,
p : +6231 532 0921, 531 6921,          Jakarta 10730, Indonesia         Karawang 41363, Indonesia
    +6231 532 0320, 535 3290,          p : +6221 6231 3502              p : +6221 8911 5085, +62267 440 823
f : +6231 531 0712, 532 0290           f : +6221 624 0313               f : +62267 440 587
e : marketing@spindo.co.id             e : marketing.sjo@spindo.co.id   e : marketing.skf@spindo.co.id




                                                                                                                spindo   spindosteelpipe

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Published25 Apr 2025
Pages421
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Names mentioned 143 people and organisations named in the text · linked when the evidence is strong

linked org Asian | Development Bank p.18
linked org PT Pertamina Patra Niaga p.20
linked person Makmur Widjaja · Komisaris Utama p.25 ×9
linked org Shinhan Sekuritas p.26 ×4
linked org Campina Ice Cream Industry Tbk p.27 ×11
linked org Saranacentral Bajatama Tbk p.28 ×19
linked person Bing Hartono Poernomosidi · Komisaris Independen p.29 ×6
linked org Integra Indocabinet Tbk p.29 ×5
linked org Langgeng Makmur Industry Tbk p.29 ×5
linked org Trias Sentosa Tbk p.29 ×5
linked org Sekar Laut Tbk p.29 ×5
linked org BCA Sekuritas p.34 ×2
linked person Ibnu Susanto · Direktur Utama p.36 ×17
linked org Sarana Steel p.37 ×9
linked person Tedja Sukmana Hudianto p.39 ×10
linked person Soediarto Soerjoprahono · Direktur p.40 ×6
linked person The, Hanny Purnomo · Direktur p.41 ×6
linked org Itochu Corporation p.50 ×3
linked person Yoshinori Nishimoto p.71
linked org Dana Pensiun p.85
linked person ENDANG FIFI SUSANTO · Komisaris p.144 ×3
possible org Bursa Efek Indonesia p.16 ×5
possible — Maju Selaras p.37 ×2
possible org PT Cakra Bhakti Para Putra p.37 ×13
possible person Dr. Irawan Soerodjo p.44 ×5
possible person Dwi Santoso p.71
possible person Kanaka Puradireja p.88
possible — Ketapang Indah p.88
possible person ENTARIO ENTARIO WIDJAJA SUSANTO · Komisaris p.144
possible org Otoritas Jasa Keuangan p.148 ×2
unresolved org PT Steel Pipe Industry p.3 ×52
unresolved org Indonesia Tbk p.3 ×54
unresolved person Organ · Komisaris p.5
unresolved person Supporting Organs · Komisaris p.5
unresolved org Indonesia Stock Exchange p.16 ×4
unresolved org Financial Services Authority p.25 ×4
unresolved person Endang Fi p.25 ×3
unresolved person Endang p.25
unresolved org PT Shinhan Sekuritas Indonesia p.26 ×4
unresolved org PT Makinta Securities p.26 ×4
unresolved org Bhakti Investama Tbk p.26 ×4
unresolved org PT Bali Securities p.26 ×2
unresolved org PT Brushindo Cemerlang p.26 ×2
unresolved org PT Waykandis p.26 ×2
unresolved org PT Ericsson Indonesia p.28 ×2
unresolved org PT Mattel Indonesia p.28 ×2
unresolved org Jaya Pari Steel Tbk p.29 ×4
unresolved org PT Semen Indogreen Indonesia p.29 ×2
unresolved org Milik p.33
unresolved org PT Sucor Investment p.34
unresolved org PT Sucor Sekuritas. Hal p.34
unresolved org Kementerian Lingkungan Hidup p.35
unresolved org Ministry of Environment Kehutanan Republik Indonesia. Dua p.35
unresolved org Ministry of Industry. Surabaya p.35
unresolved person Entario Widjaja Susanto Bapak Entario Widjaja Susanto · Komisaris p.36 ×14
unresolved person Tikman Utomo. Susunan · Direktur p.36 ×9
unresolved org PT Mitra Graha Andalan p.37 ×2
unresolved org PT Buana Maju Selaras p.37 ×2
unresolved org PT Ready Indah p.37 ×4
unresolved org Sarana Central Bajatama Tbk p.37 ×8
unresolved org PT Indometal Centraltama Industri p.37 ×2
unresolved org PT Radjin Steel Pipe Industry p.37 ×4
unresolved org PT Nugraha Purnama p.37 ×4
unresolved org PT Cahaya Onderdil Sepeda p.37 ×2
unresolved org PT Djawa Mulia p.37 ×2
unresolved org PT Fuji Technologi Indonesia p.37 ×2
unresolved org PT Djawa Indah p.37 ×2
unresolved org PT Pah Tsung School p.37 ×2
unresolved org PT Menara Prambanan p.37 ×2
unresolved org PT Sarana Steel Engineering p.37 ×2
unresolved org PT Kasih Jatim p.38 ×4
unresolved org PT Nar Stainless Steel Center p.38 ×4
unresolved org PT Sarana Surya Sakti p.38 ×4
unresolved person Vice · Wakil Direktur Utama p.39 ×2
unresolved org PT Radjin p.39 ×8
unresolved org Tokyo Ltd p.39 ×2
unresolved org PT Cakra Bhakti Agro Industry p.39 ×2
unresolved org PT Cakra Bhakti Bumi Persada p.39 ×2
unresolved org PT Sanko Steel Indonesia p.39 ×4
unresolved org PT Cakra Putra Lestari p.39 ×2
unresolved org PT Indometal Centraltama Industry p.40 ×2
unresolved org PT Purnama Nugraha p.40 ×2
unresolved org PT Pelayaran Nusantara Meratus p.41 ×2
unresolved org Departemen Produksi p.42
unresolved org SPINDO Tbk p.44 ×3
unresolved person Djojo Muljadi p.44 ×2
unresolved person Zuraida Zain p.44
unresolved person Siti Rachmayanti p.44
unresolved person Rachmayanti p.44
unresolved person Sitaresmi Puspadewi Subianto p.44 ×2
unresolved person Dr. Irawan p.44 ×2
unresolved person Soerodjo p.44 ×2
unresolved person Irawan 2015. | Soerodjo p.44
unresolved person Utami p.44 ×6
unresolved person Dr. Ir. Yohanes Wilion p.44 ×2
unresolved person Dr. Ir. Yohanes p.44
unresolved person Wilion p.44
unresolved org PT Steel Pipe p.47 ×3
unresolved org Kawasaki Steel Corporation p.50 ×2
unresolved org JFE Steel Corp. p.50
unresolved org Marubeni-Itochu Inc. p.50
unresolved org Benxi Steel Group Co. Ltd. p.51
unresolved org Steel Group Co. Ltd. p.51
unresolved org J Steel Australasia Pty. Ltd. p.60
unresolved org PT SPINDO ENGINEERING INDUSTRY p.61 ×2
unresolved org PT POSES p.61 ×2
unresolved org UL LLC p.62
unresolved org Telekomunikasi Indonesia Tbk p.62 ×6
unresolved org PT IAPMO Group Indonesia SPPT SNI p.62
unresolved person H. Poernomosidi Independent Commissioner Welly Tantono Independent · Komisaris Independen p.70 ×12
unresolved org Ministry of Manpower's p.74
unresolved person One Day Conference · Director p.80
unresolved org PT Cakra Bhakti Para Putra Nama Pemegang Saham p.84
unresolved org Tetap Khusus Non Tax p.85
unresolved — Individu Asing - KITAS p.85
unresolved org Foreign Corporation p.85
unresolved — Tax Treaty p.85
unresolved org PT Cakra Bhakti p.86
unresolved org PT Sanko Steel p.86
unresolved org PT Poses Engineering Industry p.86
unresolved org Pemberton Asia Opportunities Fund p.86
unresolved person Share Registrar Christina Dwi Utami p.88 ×11
unresolved org PT Adimitra Jasa Korpora p.88
unresolved person K.H. Zainul Arifin p.88
unresolved person Drafting GCG Guidelines · Commissioner p.130
unresolved person Improvement · Director p.130
unresolved person Rati · Corporate Secretary p.130
unresolved — sah memiliki saham Perusahaan. SPINDO wajib menjaga p.132
unresolved — mengupayakan hubungan komunikasi yang baik p.132
unresolved — wajib menghormati hak-hak p.132
unresolved — termasuk Pemegang Saham Minoritas p.132
unresolved — harus diperlakukan setara. Mereka memiliki p.132
unresolved — dicatat kepemilikan sahamnya di Daftar p.132
unresolved person (b) menghibahkan atau mentransfer saham, (c) p.132
unresolved — memperoleh secara teratur dan tepat waktu p.132
unresolved — berhak dalam menyetujui atau menolak serta berpartisipasi p.132
unresolved org PT Steel Pipe ISSP p.134
unresolved — Appointing Mr. NICO GUNAWAN · Director p.144 ×19
unresolved org Pengawas p.145
unresolved person Piagam · Komisaris p.149 ×3
unresolved person Bing H. Poernomosidi · Komisaris Independen p.149
unresolved person H. Poernomosidi p.149

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