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KJPP
DASA' AT, YUDISTIRA DAN REKAN
AREA SERVED: l"i00NES1A & WORL!l WIDE
LAPORAN STUDI KELAYAKAN BISNIS
ATAS
PENAMBAHAN KEGIATAN USAHA
PT ASTRA GRAPHIA TBK
/FEASIBILITY STUDY REPORT
OF ADDITIONAL BUSINESS ACTIVITIES
PT ASTRA GRAPH/A TBK ("AG")
Lokasi / Location:
JAKARTA
No. Laporan / Report: 00002/2.0041-00/BS/NB-1/0384/1/111/2025
Trusted Appraisal Services
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KJPP
DASA' AT, YUDISTIRA DAN REKAN
r
AREA SERVED. "tOONESlA & WORLI'.> WIDE
No. Laporan/Report : 00002/2.0041 -00/BS/NB-1 /0384/1 /lll/2025
Jakarta, March 11 2025
Kepada Yth / Attention To,
PT ASTRA GRAPHIA Tbk
Jl Kramat Raya No. 43
Jakarta, Indonesia
Perihal /Reff: LAPORAN STUDI KELAYAKAN BISNIS PENAMBAHAN KEGIATAN USAHA PT ASTRA
GRAPHIA TBK ("AG") / FEASIBILITY STUDY REPORT OF ADDITIONAL BUSINESS
ACTIVITIES PT ASTRA GRAPH/A TBK ("AG")
KANTOR JA5A PENILAI PUBLIK DA5A' AT DASA 'AT YIJDISTIRA DAN REKAN PUBLIC
YUDISTIRA DAN REKAN ("DYR") telah ditunjuk APPRAISAL FIRM ("DYR") has been appointed
oleh PT A5TRA GRAPHIA Tok ("AG") by PT ASTRA GRAPH/A Tbk ( "AG") based on the
berdasarkan persetujuan atas Surat Penawaran approval of the Proposal Letter PR.DYR-
PR.DYR-00/IT/BS/ AG/Xl/2024/ITK/0410 OOI ITIBSI AGIX/12024/ITK/ 0410 dated
tanggal 26 November 2024 dengan maksud dan November 26, 2024, with the aim and purpose
tujuan untuk memberikan pendapat mengenai of providing an opinion on the feasibility of
kelayakan atas Rencana Penambahan Kegiatan the Business Activity Expansion Plan in the
Usaha berupa penambahan bidang usaha form of adding a document solution ecosystem
ekosistern solusi dokumen sesuai dengan KBLI business line in accordance with the following
sebagai berikut: KBLI classifications:
1. Printing Service Business : 1. Printing Service Business :
18111 (lndustri Percetakan Umurn) 18111 (General Printing Industry)
18120 (Kegiatan Jasa Penunjang 18120 (Printing Support Services
Pencetakan) Activities)
46422 (Perdagangan Besar Barang 46422 (Wholesale Trade In Printing
Percetakan Dan Penertiban Dalam and Publishing Goods in Various
Berbagai Bentuk) Forms)
53201 (Aktivitas Kurir) 53201 (Couries Activities)
91012 (Perpustakaan Dan Arsip 91012 (Private Libraries and Archives
Swasta). (Indexing)).
2. Sewa Mesin Kantor :
- 77394 (Aktivitas Penyewaan dan 2. Office Rental Business:
Sewa Guna Usaha Tanpa Hak Opsi - 77394 (Rent and Rental Activities
Mesin Kantor dan Peralatannya) without Option Rights Office
Machines and Equipment)
3. Pengemasan :
- 22220 (lndustri Barang dari Plastik 3. Packaging :
Untuk Pengemasan) 22220 (Manufacture of Plastic Goods
- 17022 (lndustri Kernasan dan Kotak for Packaging)
Dari Kertas dan Karton) - 17022 (Manufacture of Paper and
- 16230 (lndustri Wadah Kayu) Cardboard Packaging and Boxes)
- 16230 (Manufacture of Wood
4. Business Process Outsourcing : Containers)
- 82110 (Aktivitas Penyedia Gabungan 4. Business Process Outsourcing:
Jasa Administrasi Kantor) - 82110 (Combined Office
- 78200 (Aktivitas Penyediaan Tenaga Administration Services Provider
Kerja Waktu Tertentu) Activities)
- 78200 (Fixed-term Labor Supply
Activities)
Head Office
Business & Property Appraisal (PB) :
The Manhattan Square - Mid Tower
15th Floor Unit D
JI TB. Simatupang Kav.1 S
Cilandak Timur, Jakarta Selatan 12560
T +62-21 2780 8586 (Hunting)
E info@dyr.co.id
www.dyr.co.1d Trusted Appraisal Services
Branch Office :
Jakarta (P), Semarang (PB), Medan (P), Surabaya (P), Denpasar (P), Bandung (P), Pekanbaru (P), Lampung (P)
Tangerang (P), Surakarta (PS), Banyumas (PS), Sleman (PS), Balikpapan (PS), Manado (PS)
Page 3
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. . ,. - ,,
KJPP
DASA' AT, YUDISTIRA DAN REKAN
AREA SERVED. INOONESIA & WORLD WIDE
- 78300 (Penyediaan Sumber Daya - 78300 (HR Provision and Management
Manusia Dan Manajemen Fungsi of HR Functions).
Sumber Daya Manusia).
Studi ini merupakan hasil kajian dan analisis This study is the result of a review and analysis
yang dilakukan dengan meninjau kelayakan conducted to assess the feasibility of Additional
atas Rencana Penambahan Kegiatan Usaha Business Activities to be undertaken by AG,
yang akan dilakukan oleh AG, ditinjau dari evaluated from various aspects, including macro
berbagai aspek yang meliputi aspek makro, aspects, market aspects, technical aspects,
aspek pasar, aspek teknis, aspek pola bisnis, business model aspects, management model
aspek model manajemen, dan aspek keuangan aspects, and financial aspects ("Feasibility Study
("laporan Studi Kelayakan"). Report").
Studi Kelayakan ini dilakukan dengan mengacu This Feasibility Study is conducted in
kepada Peraturan Otoritas Jasa Keuangan accordance with Financial Services Authority
Nomor 17/POJK.04/2020 tentang Transaksi Regulation Number 17/POJK.04/2020
Material dan Perubahan Kegiatan Usaha, concerning Material Transactions and Changes
Peraturan Otoritas Jasa Keuangan Nomor in Business Activities, Financial Services
35/POJK.04/2020 tentang Penilaian dan Authority Regulation Number
Penyajian Laporan Penilaian Bisnis di Pasar 35/POJK.0412020 concerning the Assessment
Modal dan Salinan Surat Edaran Otoritas Jasa and Presentation of Business Valuation
Keuangan Republik Indonesia Reports in the Capital Market, and the
No.17 /SEOJK.04/2020 tentang Pedoman Circular Letter of the Financial Services
Penilaian dan Penyajian Laporan Penilaian Authority of the Republic of Indonesia No.
Bisnis di Pasar Modal serta Kode Etik Penilai 17/SEOJK.0412020 concerning Guidelines for
Indonesia ("KEPI") serta Standar Penilaian the Assessment and Presentation of Business
Indonesia ("SPI") Edisi VII Tahun 2018 dan SPI Valuation Reports in the Capital Market, as
330 Edisi Revisi Tahun 2020. well as the Indonesian Appraiser Code of
Ethics ("KEPI") and Indonesian Valuation
Standards ("SP/") Edition VII of 2018 and SP/
330 Revised Edition of 2020.
Status Penilai / Appraiser Status
Penilai adalah partner dari KJPP DASA' AT The appraiser is a partner of KJPP DASA 'AT
YUDISTIRA DAN REKAN ("DYR") dengan YUDISTIRA DAN REKAN ("DYR) with the
kualifikasi sebagai berikut: following qualifications:
Nama / Name Ivan T Khristian, SE., M.Ec.Dev., MAPPI (Cert)
No. lzin Penilai Publik /
Public Appraiser Permit B.1-14.00384
No. STTD OJK STTD.PB-35/PM.2/2018
No. STTDIKNB 086/NB.122/STTD-P/2017
No. MAPP! 10-S-02664
Klasifikasi lzin / Permit
Penilaian Bisnis I Business Appraiser
Classification
KJPP Dasa'at Yudistira dan Rekan ("DYR") KJPP Dasa'at Yudistira dan Rekan ("DYR") is a
adalah Kantor Jasa Penilai Publik yang Public Appraisal Services Office registered
terdaftar di Kementerian Keuangan dan Pasar with the Ministry of Finance and Capital
Modal serta memiliki kompetensi untuk Markets and has the competence to carry out
melakukan studi kelayakan ini. this study
ii
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KJPP
DASA' AT, YUDISTIRA DAN REKAN
AREA SERVED: lliDONESIA & WORLD WIDE
Dalam mempersiapkan laporan m1 kami In preparing this Feasibility Study Report, we
bertindak secara independen tanpa adanya acted independently without any conflict of
benturan kepentingan dan tidak terafiliasi interest and are not affiliated with the
dengan Pemberi Tugas, Objek Kajian ataupun Assignor, Feasibility Study Object or parties
pihak-pihak yang terafiliasi dengan Pemberi affiliated with the Assignor and Feasibility
Tugas dan Objek Kajian. DYR juga tidak Study Object. DYR also has no personal
memiliki kepentingan ataupun keuntungan interests or profits related to this assignment.
pribadi terkait dengan penugasan ini.
Laporan Studi Kelayakan ini tidak dilakukan This Feasibility Study Report was not carried
untuk memberikan keuntungan atau merugikan out to benefit or harm any party. The service
pihak manapun. lmbalan jasa yang kami terima fees we receive are in no way influenced by
sama sekali tidak dipengaruhi oleh nilai yang the value produced.
dihasilkan.
II. Pemberi Tugas / Assignor
Pemberi Tugas dalam penugasan ini adalah: The assignor in this assignment is:
Nama Perusahaan / Company Name PT Astra Graphia Tbk
Jenis Usaha / Business Type Bidang Perdagangan dan Teknologi lnformasi
I Trade and Information Technology sector.
Alamat / Address Jl Kramat Raya No. 43
Jakarta 10450, Indonesia
No. Telp/Fax +62-21 390 9190
Email info@astragraphia.co. id
Website https: / /www.astragraphia.co. id/id
Ill. Pengguna Laporan / User
Pengguna Laporan dalam penugasan ini The user in this assignment is:
adalah:
Nama Perusahaan I Company Name PT Astra Graphia Tbk
Jenis Usaha / Business Type Bidang Perdagangan dan Teknologi lnformasi
I Trade and Information Technology sector.
Alamat / Address Jl Kramat Raya No. 43
Jakarta 10450, Indonesia
No. Telp/Fax +62-21 390 9190
Email info@astragraphia.co. id
Website https: / /www.astragraphia.co. id/id
IV. Objek Studi Kelayakan / Feasibility Study Object
Bahwa Obyek studi Kelayakan sesuai dengan That the object of the feasibility study, according
informasi yang diberikan oleh pemberi tugas to the information provided by the assignor, is
adalah Jasa Studi Kelayakan Rencana the Feasibility Study Service for the Additional
Penambahan Kegiatan Usaha berupa Business Activities Plan in the form of adding
penambahan bidang usaha sesuai dengan KBLI business fields in accordance with the following
sebagai berikut: KBLI classifications:
1. Printing Service Business : 1. Printing Service Business :
- 18111 (lndustri Percetakan Urn um) - 18111 (General Printing Industry)
- 18120 (Kegiatan Jasa Penunjang - 18120 (Printing Support Services
Pencetakan) Activities)
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KJPP
DASA' AT, YUDISTIRA DAN REKAN
AREA SERVE..,· INOON(SIA & WORLD WIDE
- 46422 (Perdagangan Besar Barang • 46422 (Wholesale Trade In Printing and
Percetakan Dan Penertiban Dalam Publishing Goods in Various Forms)
Berbagai Bentuk) • 53201 (Couries Activities)
· 53201 (Aktivitas Kurir) • 91012 (Private Libraries and Archives
- 91012 (Perpustakaan Dan Arsip (Indexing)).
Swasta).
2. Sewa Mesin Kantor : 2. Office Rental Business:
- TT394 (Aktivitas Penyewaan dan Sewa • 77394 (Rent and Rental Activities
Guna Usaha Tanpa Hak Opsi Mesin without Option Rights Office Machines
Kantor dan Peralatannya) and Equipment)
3. Pengemasan : 3. Packaging:
• 22220 (lndustri Barang dari Plastik • 22220 (Manufacture of Plastic Goods for
Untuk Pengemasan) Packaging)
· 17022 (lndustri Kemasan dan Kotak • 17022 (Manufacture of Paper and
Dari Kertas dan Karton) Cardboard Packaging and Boxes)
• 16230 (lndustri Wadah Kayu) · 16230 (Manufacture of Wood Containers)
4. Business Process Outsourcing : 4. Business Process Outsourcing :
82110 (Aktivitas Penyedia Gabungan · 82110 (Combined Office Administration
Jasa Administrasi Kantor) Services Provider Activities)
78200 (Aktivitas Penyediaan Tenaga · 78200 (Fixed-term Labor Supply
Kerja Waktu Tertentu) Activities)
78300 (Penyediaan Sumber Daya • 78300 (HR Provision and Management of
Manusia Dan Manajemen Fungsi HR Functions).
Sumber Daya Manusia).
V. Jenis Mata Uang yang Digunakan / Type of Currency Used
Dalam penelitian 1m, indikasi Kelayakan In this study, the Eligibility indication is
dinyatakan dalam Rupiah. expressed in Rupiah.
VI. Maksud dan Tujuan Kajian / Purpose and Objective
Maksud penugasan ini adalah untuk The purpose of this assignment is to provide
memberikan pendapat kelayakan atas an opinion on the feasibility of PT Astra
Penambahan Kegiatan Usaha PT Astra Graphia Graphia Tbk ("AG") expanding Its business
Tbk ("AG") dalam penambahan ekosistem activities by adding a Document Solutions
Solusi Dokumen. Penugasan ini digunakan ecosystem. This assignment is intended for
untuk kepentingan pasar modal dan tidak capital market purposes and should not be
digunakan di luar konteks atau tujuan used outside the context or purpose of this
penugasan tersebut. assignment
iv
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KJPP
DASA' AT, YUDISTIRA DAN REKAN
AREA SERVED !NDONESIA & WORLIJ WIDE
Penugasan ini dilakukan dengan rnengacu This assignment is carried out in accordance
kepada Peraturan Otoritas Jasa Keuangan with the Financial Services Authority
Nornor 17/POJK.04/2020 tentang Transaksi Regulation Number 17/POJK.0412020
Material dan Perubahan Kegiatan Usaha, concerning Material Transactions and Business
Activity Changes, Financial Services Authority
Peraturan Otoritas Jasa Keuangan Nornor Regulation Number 35/POJK.0412020
35/POJK.04/2020 tentang Penilaian dan concerning the Valuation and Presentation of
Penyajian Laporan Penilaian Bisnis di Pasar Business Valuation Reports in the Capital
Modal dan Salinan Surat Edaran Otoritas Jasa Market, and a copy of the Circular Letter of
Keuangan Republik Indonesia the Financial Services Authority of the
No.17 /SEOJK.04/2020 tentang Pedornan Republic of Indonesia No. 17/SEOJK.04/2020
Penilaian dan Penyajian Laporan Penilaian concerning Guidelines for Valuation and
Bisnis di Pasar Modal serta Kode Etik Penilai Presentation of Business Valuation Reports in
Indonesia ("KEPI") serta Standar Penilaian the Capital Market, as well as the Indonesian
Indonesia ("SPI") Edisi VII Tahun 2018 dan SPI Valuer Code of Ethics ("KEPI") and the
330 Edisi Revisi Tahun 2020. Indonesian Valuation Standards ("SPI") Edition
VII of 2018 and SP/ 330 Revised Edition of 2020
VII. Pendekatan dan Metodologi Studi Kelayakan / Feasibility Study Approach and
Methodology
Untuk rnelakukan studi kelayakan ini, karni To conduct this feasibility study, we will refer
akan rnenggunakan sesuai Peraturan Otoritas to the Financial Services Authority Regulation
Jasa Keuangan Nomor 17/POJK.04/2020 Number 17/POJK.0412020 concerning Material
tentang Transaksi Material dan Perubahan Transactions and Business Activity Changes,
Kegiatan Usaha dan Peraturan Otoritas Jasa Financial Services Authority Regulation
Number 35/POJK.04/2020 concerning the
Keuangan Nornor 35/POJK.04/2020 tentang Valuation and Presentation of Business
Penilaian dan Penyajian Laporan Penilaian Valuation Reports in the Capital Market, and a
Bisnis di Pasar Modal dan Salinan Surat Edaran copy of the Circular Letter of the Financial
Otoritas Jasa Keuangan Republik Indonesia Services Authority of the Republic of Indonesia
No.17 /SEOJK.04/2020 tentang Pedornan No. 17/SEOJK.0412020 concerning Guidelines
Penilaian dan Penyajian Laporan Penilaian for Valuation and Presentation of Business
Bisnis di Pasar Modal. Valuation Reports in the Capital Market.
VIII. Tanggal Batas Pisah (Cut-off date) dan Waktu Pelaporan / Cut-off Date and Reporting
Period
Tanggal Batas Pisah (cut-off date) studi The cut-oft date for the feasibility study
kelayakan penilaian adalah per 31 Desernber assessment is December 31, 2024 ("Cut-off
2024 ("Cut-oft Date") di rnana batas tersebut Date"), determined based on the considerations
diarnbil atas dasar pertirnbangan kepentingan of the assessment's interests and objectives. The
dan tujuan penilaian. Masa berlaku Laporan validity period of this Feasibility Study Report is
Studi Kelayakan ini adalah 6 (enarn) bulan yang six (6) months, ending on June 30, 2025.
berakhir pada tanggal 30 Juni 2025.
IX. Tingkat Kedalaman lnvestigasi / Level of Investigation Depth
Dalarn penilaian ini, karni telah rnelakukan In this valuation, we have conducted an
investigasi untuk rnendapatkan keyakinan yang investigation to obtain sufficient assurance,
rnemadai diantaranya dengan rnelakukan including conducting interviews with AG
wawancara terhadap rnanajernen AG, yaitu: management, as follows:
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KJPP
DASA' AT, YUDISTIRA DAN REKAN
AREA SERVED. INOONESIA & WORLD WIDE
Pihak Yang Diwawancarai I Interviewed Parties
Pihak yang Oiwawancarai Jabatan Entitas
I
Interviewed Parties Position Entity
Chief of Finance, Investor
Fanny Haryanto Relation ft Inventory PT Astra Graphia Tbk
Management
Chief of Business Strategy ft
Satryo Dewandono Development and Corporate PT Astra Graphia Tbk
Communications
Edgar Wirotomo Limansantoso Chief of Planning & Marketing PT Astra Graphia Tbk
Dept. Head of GC Product
Agatha Wisnu Putra PT Astra Graphia Tbk
Marketing
X. Sumber lnformasi Yang Dapat Diandalkan / Reliable Information Sources
Dalam melakukan penilaian ini, DYR juga In conducting this assessment, DYR also used
menggunakan informasi dari beberapa sumber information from several reliable and
informasi relevan yang handal tanpa perlu relevant sources without the need for
melakukan verifikasi:
verification:
• Data-data laporan keuangan historis yang • Audited historical financial reports;
telah diaudit; • Legal documents related to the
• Dokumen hukum yang terkait dengan Studi Feasibility Study;
Kelayakan; • Economic data obtained from S&P Global;
• Data-data ekonomi yang diperoleh dari S&P • Macroeconomic and microeconomic data
Global;
obtained from relevant institutions such
• Data-data ekonomi baik yang bersifat
makro ataupun mikro yang diperoleh dari as Bank Indonesia;
instansi terkait seperti Bank Indonesia; • Statistical data from the Central Bureau
• Data statistik dari Badan Pusat Statistik. of Statistics (BPS).
Dalam melakukan penilaian ini, DYR juga In conducting this assessment, DYR also used
menggunakan informasi dari beberapa sumber information from several relevant sources
informasi relevan yang perlu melakukan that require verification:
verifikasi:
• Diskusi dengan pihak manajemen baik • Discussions with management, both from
Pemberi Tugas maupun Objek Studi
the Assignor and the Feasibility Study
Kelayakan;
Object;
• Data finansial terkait dengan Objek Studi • Financial data related to the Feasibility
Kelayakan. Study Object.
• Tinjauan terhadap kondisi fundamental • A review of the fundamental conditions
obyek studi kelayakan yang menyangkut of the feasibility study object, including
sejarah singkatnya, struktur modal dan its brief history, capital structure, and
susunan pengurus, deskripsi bidang usaha management composition, business field
dan kinerja keuangan, serta description, and financial performance,
memperhatikan kondisi makro yang ada. while considering the prevailing
macroeconomic conditions.
• Data-data lainnya sebagai informasi • Other supporting data, such as the
pendukung, seperti rencana anggaran budget plan.
biaya.
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KJPP
DASA' AT, YUDISTIRA DAN REKAN
AREA SERVED: IN DONE SIA & WORLD WIDE
XI. Asumsi dan Asumsi Khusus I Assumptions and Special Assumptions
Asumsi dan asumsi khusus yang akan digunakan The assumptions and special assumptions used
dalam penugasan merupakan asumsi dan in this assignment are reasonable and
asumsi khusus yang wajar dan relevan dengan relevant, considering the purpose for which
memperhatikan tujuan dimana studi kelayakan the feasibility study is required.
diperlukan.
Asumsi khusus adalah asumsi yang berbeda dari Special assumptions are those that differ f ram
fakta yang sebenarnya pada tanggal studi actual facts as of the feasibility study date or
kelayakan atau hat yang tidak akan dibuat oleh are assumptions that only a small number of
sebagian kecil pelaku pasar dalam suatu market participants would make in a
transaksi pada tanggal studi kelayakan. transaction on the feasibility study date.
Asumsi khusus sering digunakan untuk Special assumptions are often used to describe
menggambarkan efek dari suatu situasi yang the effects of a situation that would influence
akan mempengaruhi nilai. value.
Dalam pelaksanaan penugasan, Penilai akan In carrying out the assignment, the Appraiser
menggunakan asumsi yang wajar untuk will use reasonable assumptions that are
diterima sebagai fakta dalam konteks generally accepted as facts in the context of
penugasan. the assignment.
XII. Persyaratan Atas Persetujuan Untuk Publikasi / Requirements for Approval for
Pubtica tion
Laporan studi kelayakan ini bersifat terbuka This feasibility study report is publicly
untuk publik, kecuali terdapat informasi available unless it contains confidential
rahasia yang dapat mempengaruhi operasional information that could affect the company's
perusahaan. Pemberi Tugas dan Pengguna
operations. The Assignor and the Users of this
Laporan studi kelayakan ini sebagaimana yang
disebutkan dalam lingkup penugasan, feasibility study report, as stated within the
menginformasikan bahwa tidak terdapat scope of the assignment, have confirmed that
informasi rahasia yang dapat mempengaruhi there is no confidential information that
operasional perusahaan di dalam laporan ini. could impact the company"s operations in this
Penggunaan Laporan di luar dari ketentuan report. Any use of the report beyond what is
yang disebutkan dalam lingkup Penugasan stated within the scope of the assignment
Laporan ini harus mendapatkan persetujuan
must obtain written approval from KJPP
tertulis dari KJPP DASA"AT YUDISTIRA DAN
REKAN ("DYR") serta Pemberi Tugas. DASA 'AT YUDJST/RA DAN REKAH ("DYR") and
the Assignor.
Tanda tangan Penilai Publik dan cap DYR yang The signature of the Public Appraiser and the
resmi merupakan syarat mutlak Laporan Studi official DYR stamp are essential requirements
Kelayakan yang dihasilkan. for the validity of the Feasibility Study
Report.
XIII. Konfirmasi Bahwa Penilaian dilakukan berdasarkan Peraturan OJK dan KEPI & SPI /
Confirmation That the Valuation is Conducted Based on OJK Regulations, KEPl tt SP/
Analisis, opini dan kesimpulan yang dibuat The analysis, opinions, and conclusions made by
oleh penilai, serta laporan penilaian telah the appraiser, as well as the valuation report,
dibuat dengan memenuhi ketentuan kepada have been prepared in compliance with the
Peraturan Otoritas Jasa Keuangan Nomor provisions of Financial Services Authority
17/POJK.04/2020 tentang Transaksi Material Regulation Number 17/POJK.0412020
dan Perubahan Kegiatan Usaha, Peraturan concerning Material Transactions and Business
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KJPP
DASA' AT, YUDISTIRA DAN REKAN
AREA SERVED 1NDONESIA & WORLD WfOE
Otoritas Jasa Keuangan Norn or Activity Changes, Financial Services Authority
35 / POJK.04 / 2020 tentang Penilaian dan Regulation Number 35/POJK.04/2020
Penyajian Laporan Penilaian Bisni s di Pasar concerning the Valuation and Presentation of
Modal dan Salinan Surat Edaran Otoritas Jasa Business Valuation Reports in the Capital
Keuangan Republik Indonesia Market, the Circular Letter of the Financial
No.17/ SEOJK.04/2020 tentang Pedoman Services Authority of the Republic of Indonesia
Penilaian dan Penyajian Laporan Penilaian No. 17/SEOJK.04/ 2020 concerning Guidelines
Bisnis di Pasar Modal serta Kode Etik Penilai for Valuation and Presentation of Business
Indonesia ("KEPI") serta Standar Penilaian Valuation Reports in the Capital Market, the
Indonesia (" SPI") Edisi VII Tahun 2018 dan SPI Indonesian Valuer Code of Ethics (KEPI), and ttie
330 Edisi Revisi Tahun 2020. Indonesian Valuation Standards (SP/) Edition VII
of 2018 and SP/ 330 Revised Edition of 2020.
XIV. Kesimpulan I Summary
Berdasarkan kajian, evaluasi dan analisa Based on the study, evaluation, and financial
keuangan serta proyeksi lainnya dengan analysis, as well as other projections, with the
syarat asumsi-asumsi yang telah ditetapkan condition that the established assumptions are
dapat terpenuhi, maka dapat disimpulkan met, it can be concluded that the planned
bahwa rencana penambahan Kegiatan Usaha additional business activities to be carried out
yang akan dilaksanakan oleh AG layak untuk by AG is feasible to implement.
dilaksanakan.
Demikian hasil Studi Kelayakan yang kami Thus, this is the result of the Feasibility Study
lakukan dengan tetap mengacu pada standar we conducted, in full compliance with the
dan kode etik yang berlaku. applicable standards and code of ethics.
Sincerely Yours,
KANTOR JASA PENILAI PUBLIK (KJPP) / PUBLIC APPRAISER SERVICES OFFICE (KJPP)
DASA' AT YUDISTIRA & REKAN
Ivan Teguh Khristian, SE., M. Ec.Dev., MAPPI (Cert)
Partner
No. lzin Penilai Publik / Public Appraiser Permit : B.1 -14.00384
No. STTD OJK : STTD.PB-35/ PM.2/ 2018
No. STTDIKNB : 086/ NB.122/STTD-P/ 2017
No. MAPPI : 10-S-02664
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Names mentioned 20 people and organisations named in the text · linked when the evidence is strong
unresolved
org
KJPP DASA' AT
p.1 ×10
unresolved
org
PT ASTRA GRAPH
p.1 ×3
unresolved
org
Financial Services Authority
p.3 ×8
unresolved
org
KJPP DASA
p.3 ×2
unresolved
person
Ivan T Khristian
p.3
unresolved
org
I Business Appraiser Classification KJPP Dasa'at Yudistira dan Rekan
p.3
unresolved
org
KJPP Dasa'at Yudistira
p.3 ×2
unresolved
org
KJPP Dasa'at Yudistira dan Rekan
p.3
unresolved
org
Kementerian Keuangan dan Pasar
p.3
unresolved
org
Ministry of Finance and Capital Modal
p.3
unresolved
org
PT Astra Penambahan Kegiatan
p.5
unresolved
org
Graphia Tbk
p.5
unresolved
org
Otoritas Jasa Keuangan Republik Indonesia
p.6
unresolved
org
Bank Indonesia
p.7 ×2
unresolved
org
Pusat Statistik.
p.7
unresolved
org
DASA' AT YUDISTIRA & REKAN
p.9
unresolved
org
REKAN Ivan Teguh Khristian
p.9
Extraction attempts how the parser did, and what it refused
Nothing structured was extracted from this document — the attempts below say why.
Rule parser
Needs review
confidence 0.091
2714 ms
12 Sep 2026 22:53
Raw output
{'appraiser_exempt': None,
'appraiser_name': '',
'assets': [],
'currency': None,
'fact_type': '',
'issuer_name': '',
'kind': 'MATERIAL_FACT',
'kjpp_name': '',
'letter_number': '',
'object_text': '',
'object_truncated': False,
'parties': [],
'pct_of_equity': None,
'reference_period': '',
'requires_rups': None,
'rups_date': None,
'ticker': '',
'transaction_date': None,
'valuation_date': None,
'value': None}