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Disclaimer and Limitation of Liability Our 2024 Annual Report is prepared to comply with the requirement to report our performance for the period of January 1, 2024 to December 31, 2024 to the regulators and stakeholders. This Annual Report, among others, is prepared based on Financial Services Authority Regulation No. 29/POJK.04/2016 concerning Annual Reports of Issuers or Public Companies with contents in accordance with Financial Services Authority Circular Letter No. 16/SEOJK.04/2021 concerning Forms and Contents of an Annual Report of Issuers or Public Companies. This Annual Report contains statements related to objectives, policies, plans, strategies, as well as operational and financial results prepared based on accountable factual data. In addition, this Annual Report also presents information related to our forecasts for the following year that are prepared based on prospective statements and various assumptions regarding the future conditions of our Company, as well as the related business environment, thus the actual developments may materially differ from the report. Therefore, we urge the stakeholders to use the information contained in this report wisely when making decisions.
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PT Avia Avian Tbk • 2024 Annual Report
Towards
a Sustainable
and Colorful
Future
PT Avia Avian Tbk (hereinafter referred to as
“Avian Brands” or “AVIA” or ”we”) continuously integrates
its achievements with its long-term aspiration
to create innovative and sustainable products.
By providing high-quality products that are certified
environmentally friendly, Avian Brands solidifies
its position as a paint industry leader committed
to sustainability and environmental responsibility.
This year, Avian Brands also managed to record
a strategic achievement of securing new international patents, further reinforcing its competitive edge in the industry.
This move reflects Avian Brands’ focus on sustainable innovation that provides added value not only for customers,
but also for the environment and society at large. These patents are tangible evidence of Avian Brands’ dedication to
developing products relevant to market needs while simultaneously contributing to its long-term sustainability objectives.
This commitment to sustainability is evident not only from product innovation but also from various strategic efforts to
deliver sustainable positive impacts. With a holistic approach, Avian Brands is not only oriented towards achieving business
targets, but also on making tangible contributions to the social and environmental ecosystem. Avian Brands believes that
true success means providing long-term benefits to all stakeholders, including the community, customers, business partners,
and the environment. Through these strategic initiatives, Avian Brands continues to move forward to realize its vision of
becoming an industry player that gives color to people’s lives and maintains harmony with nature and the future. By doing so,
Avian Brands will always be part of the solution to create a more sustainable, innovative, and colorful world.
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Theme Continuity
Painting a Beautiful
2023
Picture of Indonesia
For over 4 decades, Avian Brands has been bringing beautiful colors to the lives
of millions of families in Indonesia, by providing a diverse range of high-quality
and eco-friendly paint products. As a pioneer in the paint manufacturing industry,
we recognize the paramount importance of positively contributing to the environment
and the community. Thus, since its inception, Avian Brands has not only brought
colors through its products, but also through continuous commitment to responsible
business practices.
As part of this ongoing commitment, we continue to conduct research and development
to introduce more environmentally friendly paint solutions. By consistently exploring
the potential for innovation in paint formulations that are both more efficient and
ecological, we aspire to continue painting Indonesia with colors that are not only
beautiful but also sustainable. Moreover, we steadfastly strengthen partnerships with
local communities, support social initiatives, and invest in educational programs to
shape a brighter and more colorful future for the next generation.
4 Brighter Future
2022
4 Colourful Indonesia
The business continuity of Avian Brands for more than 44 years has been
achieved through prudent business management and continuous innovation.
During our journey, Avian Brands continues to move forward in accordance with our
Vision “to become an integrated, excellent, environmentally friendly, and leading paint
company in Indonesia”. Each of our policies and strategies is geared towards adding
value to various groups of stakeholders. This commitment may be seen in product
innovations that take into account environmental friendliness and customer health.
A total of 24 of our paint products have earned Singapore Green Label certifications.
Most of our paints are made with water-based materials and environmentally friendly
raw materials to support the green building concept. In addition, we manufacture
paints with green active technology, which can lower the room temperature, as well
as paints with protection against viruses and bacteria, so they do not stick to the walls.
All these innovations aim to support a healthier and brighter future for Indonesia in the
colorful array of our products.
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PT Avia Avian Tbk • 2024 Annual Report
Our innovations have earned positive appreciation from external parties.
From the operational aspect, we obtained a Green Industry Certificate (Sertifikat
Industri Hijau) for operational activities that prioritize efficiency and effectiveness in
the utilization of resources in a sustainable manner to encourage environmental
sustainability. Furthermore, we have also obtained Green PROPER (PROPER Hijau)
for optimizing our environmental impact management beyond the necessary
requirements. These achievements also make us the first paint company in Indonesia
to achieve Green PROPER.
The Color of
2021
Sustainability
For more than 43 years, Avian Brands has provided leading benefits and contributed
to a colorful Indonesia. We continue to support the community in achieving better
lives through a variety of product portfolios and business activities. We believe that
a business operated with a noble purpose and a business model that is adjusted and
able to compete with future needs will yield excellent performance. Therefore, we are
committed to becoming a leading paint company that prioritizes sustainable business
and environmentally friendly products.
In line with that, we continue to strive to improve our competitive advantages through
various adjustments and strengthening within our company. In terms of products,
we own Avian Innovation Center, which aims to develop and provide the latest product
innovations. We also own an extensive distribution network through a combination
of wholly-owned distribution centers as well as independent distribution centers.
In addition, we took a big step in conducting an Initial Public Offering on the Indonesia
Stock Exchange in order to strengthen our capital structure. These steps further
affirmed our position as the paint market leader in Indonesia.
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Competitive
Strengths
Leading paint producer in Indonesia
1
with strong brand recognition.
Well-positioned to gain advantages
2 of the favorable industry growth
dynamics in Indonesia.
Extensive distribution network and
access across Indonesia. Supported by
3 124 wholly-owned distribution centers and
15 wholly-owned mini-distribution centers,
and 38 independent distribution centers.
Highly committed and visionary
4 management team with a strong
track record of success.
Ability to offer differentiated and
innovative solutions supported
5 by industry-leading research and
development capabilities in
decorative paints and coatings.
Production excellence, which is
underpinned by Avian Brands’ vertically
integrated manufacturing capabilities
6
and in-house raw material production,
is supported by Avian Brands’ long-term
relationships with key suppliers.
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PT Avia Avian Tbk • 2024 Annual Report
2024
Performance
“Amidst the growing external challenges throughout 2024, Avian Brands managed to maintain its edge as the leader in
national paint industry, which resulted in excellent operational and financial performance.”
Production Performance Research and Development Performance
Avian Brands’ production performance in 2024 Avian Brands’ consistency in conducting
reached 197,339 metric tons, an increase of 9.30% continuous research and development on its
compared to the previous year. These results products has delivered increasingly positive
were predominantly produced by Sidoarjo Plant, results. In 2024, Avian Brands succeeded in
amounting to 137,950 metric tons or 69.91% securing global patents for the “Magnetite Paint
of Avian Brands’ total production, with Serang (Fe₃O₄)” applied to HomeDeco Magnetic
Plant producing 59,389 metric tons or 30.09% of product, and the “Additive for Accelerating
Avian Brands’ total production. the Hardening and Reinforcing of Enhanced
Concrete” applied to No Drop Plaston product.
Moreover, Avian Brands has successfully
launched 15 new products into the market,
further strengthening its product portfolio and
competitive edge in the industry. These products
are designed to respond to dynamic market
needs, focusing on innovation, quality, and
sustainability.
Profitability Performance Distribution Network Performance
Avian Brands successfully recorded a net Avian Brands continues to strengthen its
revenues of IDR7,471.36 billion, an increase distribution network in order to improve
of 6.48% compared to the previous year. customer accessibility to Avian Brands’ products.
This achievement drove Avian Brands’ profit As of the end of 2024, its distribution network has
for the year, which was recorded at IDR1,663.70 reached 34 provinces and 98 cities in Indonesia,
billion, an increase of 1.25% compared to the consisting of 124 wholly-owned distribution
previous year. centers and 15 wholly-owned mini-distribution
centers, as well as 38 independent distribution
This robust profitability performance and financial centers.
strength enable Avian Brands to consistently
deliver added value to stakeholders, particularly This extensive network allows Avian Brands to
regarding dividend distribution to Shareholders. achieve 91% of its one-day delivery target that
In 2024, Avian Brands distributed cash dividends guarantees delivery of orders within 2 hours for
of IDR11.- per share or a total of IDR676.16 billion new products, removing the need for customers
and interim dividends of IDR11.- per share or a to keep inventory. This strategy ensures timely
total of IDR671.98 billion. and efficient product availability in various
regions in Indonesia.
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Table of Contents
Disclaimer and Limitation of Liability i 2024 Performance 5
Theme Continuity 2 Table of Contents 6
Competitive Strengths 4
PERFORMANCE HIGHLIGHTS 9
Key Financial Data Overview 10 Information regarding Bonds, Sukuk, or 13
Operational Overview 12 Convertible Bonds
Share Overview 12 Significant Events 14
Corporate Action 13 Awards and Certifications 23
Share Trading Information 13
MANAGEMENT REPORT 33
The Board of Commissioners Report 34 The Board of Directors Report 40
COMPANY PROFILE 47
Company Identity 48 Shareholder Information 75
Milestones 50 Main and Controlling Shareholders 76
Brief History 53 Chronology of Share Listing 77
Company Vision, Mission, and Values 54 Sharia Securities 77
Meaning of Avian Logo 56 Company’s Stock Index 78
Business Activities 57 Chronology of Other Securities Listing 78
Products and Services 59 Corporate Structure 78
Manufacturing Facilities 62 Subsidiaries, Associates, and Joint-Ventures 79
Operational Areas 63 Capital Market Supporting Institutions and 80
Organizational Structure 64 Professions
Membership in Associations 65 Information Access 81
Profile of the Board of Commissioners 66 Human Resources 81
Profile of the Board of Directors 69 Information Technology 89
MANAGEMENT DISCUSSION AND ANALYSIS 95
Economic Overview 96 Consolidated Statement of Profit or Loss and 107
Industry Overview 96 Other Comprehensive Income
Operational Overview 97 Consolidated Statement of Cash Flows 108
Marketing and Distribution Aspect 102 Solvency 109
Financial Overview 104 Collectability of Account Receivables 110
Consolidated Statement of Financial Position 104 Capital Structure 110
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PT Avia Avian Tbk • 2024 Annual Report
Capital Goods Investment 111 Business Prospects 115
Material Commitments related to 111 Target Achievement Strategy 116
Capital Goods Investment 2025 Projection 116
Realization on Use of Proceeds from 112 Avian Brands' Strategic Plans 117
Public Offering
Changes in Accounting Policies 119
Dividend Policy and Distribution 112
Changes in Laws and Regulations with 120
Material Information Concerning Investment, 113 Significant Impacts on Avian Brands
Expansion, Divestment, Merger/Consolidation,
Material Information after 120
Acquisition, and/or Debt/Capital Restructuring
the Financial Statement Date
Material Transactions Containing Conflicts of 113 Business Continuity Information 120
Interest or Transactions with Related Parties
Comparison of Target and Realization in 2024 115
GOOD CORPORATE GOVERNANCE 123
Commitment to Implementing 124 Internal Control System 173
Good Corporate Governance Risk Management System 175
Basis of Good Corporate Governance 125 Legal Disputes with Material Impacts and 178
Implementation the Administrative Sanctions Imposed
Structure of Good Corporate Governance 126 Code of Conduct 178
Mechanism of Good Corporate Governance 127 Employee Stock Allocation Program 180
General Meeting of Shareholders 127 Information Disclosure Policy 182
The Board of Commissioners 137 Whistleblowing System 183
The Board of Directors 143 Anti-Corruption and Gratification Policy 185
The Board of Commissioners and the Board of 148 Policy to Prevent Insider Trading 186
Directors Diversity Policy Policy on Fulfillment of Creditors’ Rights 186
Nomination and Remuneration of the Board of 149 Conflict of Interest Guidelines 187
Commissioners and the Board of Directors
Communication Policy Guidelines 187
Sharia Supervisory Board 150 Policy Guideline in Resignation Procedure of 188
Committees Under the Board of Commissioners 150 the Board of Commissioners and
The Audit Committee 151 the Board of Directors in the Event of Involvement
The Nomination and Remuneration Committee 155 in Financial Crime
The Good Corporate Governance Committee 159 Affiliated Transaction Guidelines 188
Committees Under the Board of Directors 162 Succession Policy in the Board of Commissioners 189
and the Board of Directors Nomination Process
The Related Party Transaction Committee 162
Implementation of Governance Guidelines 189
The Corporate Secretary 165
for Public Companies
The Internal Audit Unit 168
Public Accountant 171
SOCIAL AND ENVIRONMENTAL RESPONSIBILITY 193
Avian Brands' Sustainability Commitment 194 Sustainability Performance Overview 195
Statement of Members of the Board of Commissioners and Members of the Board of Directors 197
on the Responsibility for the 2024 Annual Report of PT Avia Avian Tbk
Consolidated Financial Statements of PT Avia Avian Tbk and Subsidiaries 199
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PT Avia Avian Tbk • 2024 Annual Report
Performance
Highlights
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PERFORMANCE HIGHLIGHTS
Key Financial Data Overview
(in millions Rupiah, unless otherwise stated)
Description 2024 2023* 2022
Consolidated Statement of Financial Position
Total Assets 11,060,975 11,166,987 10,792,122
Total Current Assets 8,493,362 8,910,802 8,716,715
Total Non-Current Assets 2,567,613 2,256,185 2,075,407
Total Liabilities 1,429,095 1,245,498 1,217,237
Total Current Liabilities 1,351,585 1,175,130 1,108,163
Total Non-Current Liabilities 77,510 70,368 109,074
Total Equity 9,631,880 9,921,489 9,574,885
Total Liabilities and Equity 11,060,975 11,166,987 10,792,122
Consolidated Statement of Profit or Loss and Other Comprehensive Income
Net Revenues 7,471,356 7,016,882 6,694,171
Cost of Goods Sold (4,130,606) (3,833,546) (3,976,771)
Gross Profit 3,340,750 3,183,336 2,717,400
Profit Before Income Tax Expense 2,068,594 1,992,143 1,745,247
Income Tax Expense (404,895) (349,047) (344,882)
Profit for the Year 1,663,699 1,643,096 1,400,365
Other Comprehensive Income (Loss) (46,983) 81,403 (127,454)
Total Comprehensive Income for the Year 1,616,716 1,724,499 1,272,911
Profit for the Year Attributable to:
Equity Holders of the Parent Company 1,664,341 1,642,166 1,400,561
Non-Controlling Interests (642) 930 (196)
Total Comprehensive Income for the Year Attributable to:
Equity Holders of the Parent Company 1,617,351 1,723,608 1,273,081
Non-Controlling Interests (635) 891 (170)
Basic and Diluted Earnings per Share Attributable to the Owners of the Parent
27.16 26.51 22.61
(Full Rupiah)
Consolidated Statement of Cash Flows
Net Cash Provided by Operating Activities 1,766,128 1,640,834 1,461,499
Net Cash Provided by (Used in) Investing Activities 1,262,474 (1,138,195) 559,932
Net Cash Used in Financing Activities (1,933,622) (1,440,808) (1,146,154)
Consolidated Financial Ratio
Profitability Ratio (%)
Consolidated Profit for the Year to Consolidated Net Revenues 22.27 23.42 20.92
Consolidated Profit for the Year to Consolidated Total Assets 15.04 14.71 12.98
Consolidated Profit for the Year to Consolidated Total Equity 17.27 16.56 14.63
Liquidity Ratio (x)
Consolidated Total Current Assets to Consolidated Total Current Liabilities 6.28 7.58 7.87
Solvency Ratio (x)
Consolidated Total Liabilities to Consolidated Total Assets 0.13 0.11 0.11
Consolidated Total Liabilities to Consolidated Total Equity 0.15 0.13 0.13
* Data reclassified.
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PT Avia Avian Tbk • 2024 Annual Report
Total Assets Total Liabilities Total Equity
(in million Rupiah) (in million Rupiah) (in million Rupiah)
(0.75) 3.47 (0.95) YoY (%) (16.52) 2.32 14.74 YoY (%) 1.69 3.62 (2.92) YoY (%)
1,429,095
9,921,489
11,166,987 11,060,975 1,245,498
10,792,122 1,217,237
9,574,885 9,631,880
2022 2023 2024 2022 2023 2024 2022 2023 2024
Net Revenues Profit Before Interest, Tax, Profit for the Year
(in million Rupiah) Depreciation, and Amortization (in million Rupiah)
(in million Rupiah)
(1.26) 4.82 6.48 YoY (%) (16.36) 15.85 5.53 YoY (%) (2.38) 17.33 1.25 YoY (%)
7,471,356
7,016,882 1,927,857 2,034,486 1,643,096 1,663,699
6,694,171 1,664,169 1,400,365
2022 2023 2024 2022 2023 2024 2022 2023 2024
Consolidated Profit for Consolidated Total Current Assets Consolidated Total Liabilities
the Year to Consolidated to Consolidated Total Current to Consolidated Total Equity
Net Revenues Liabilities
(1.14) 11.95 (4.91) YoY (%) 18.58 (3.68) (17.15) YoY (%) (17.91) 0.00 15.38 YoY (%)
23.42% 7.87x
0.15x
22.27% 7.58x
20.92%
6.28x
0.13x 0.13x
2022 2023 2024 2022 2023 2024 2022 2023 2024
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PERFORMANCE HIGHLIGHTS
Operational Overview
(in millions Rupiah, unless otherwise stated)
Description 2024 2023 2022
Architectural Solutions (Wall, Wood and Metal, Waterproofing, Wood Care, and Others) 5,847,703 5,618,025 5,384,019
Trading Goods (Pipes, Furniture, and Supporting Products) 1,623,653 1,398,857 1,310,152
Total Net Revenues 7,471,356 7,016,882 6,694,171
Share Overview
Shares Price Transaction Number of Market
Period Lowest Highest Closing Volumes Outstanding Shares Capitalization
(IDR) (IDR) (IDR) (Shares) (Shares) (IDR)
2024
Quarter 1 488 610 550 1,814,180,700 61,556,537,600 34,074,455,580,000
Quarter 2 488 570 515 1,353,097,300 61,256,923,300 31,906,081,134,000
Quarter 3 444 535 498 1,469,498,600 61,195,158,500 30,852,870,688,800
Quarter 4 358 520 400 3,563,375,400 60,790,106,400 24,781,422,240,000
2023
Quarter 1 565 685 595 512,099,400 61,953,555,600 36,862,365,582,000
Quarter 2 565 760 665 492,363,100 61,953,555,600 41,199,114,474,000
Quarter 3 550 670 560 536,594,400 61,953,555,600 34,693,991,136,000
Quarter 4 422 575 500 1,911,509,200 61,918,936,800 30,976,777,800,000
Transaction Volumes Closing Price
(Shares) (IDR)
5,000,000 800
4,500,000
700
4,000,000
600
3,500,000
500
3,000,000
2,500,000 400
2,000,000
300
1,500,000
200
1,000,000
100
500,000
- -
r r
Jan Feb Ma Ap May Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
2023 2024
Transaction Volumes (Shares) Closing Price (IDR)
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PT Avia Avian Tbk • 2024 Annual Report
Corporate Action
Throughout 2024, Avian Brands has conducted trading costs, and other costs). This corporate action does
a buyback of Avian Brands’ shares that had been not affect the nominal value of shares listed on the stock
issued and listed on the Indonesia Stock Exchange, in exchange.
accordance with the resolutions of the Extraordinary
General Meeting of Shareholders on December 7, 2023. Apart from the share buyback, Avian Brands did not conduct
As of December 31, 2024, the total number of repurchased any other corporate actions in 2024, including stock
shares amounted to 1,163,449,200 shares or approximately split, reverse stock split, distribution of stock dividends,
1.88% of all shares listed on the Indonesia Stock distribution of bonus shares, change in nominal value of
Exchange, so the total number of outstanding shares is shares, issuance of convertible securities, or capital injection
60,790,106,400. This corporate action, scheduled to be and reduction.
carried out within 18 months at most, has absorbed funds
totaling IDR574,834,813,406.- (including transaction costs,
Share Trading Information
During 2024, we did not experience any temporary suspension of share trading or delisting.
Information regarding Bonds, Sukuk
or Convertible Bonds
Until the end of 2024, we have never issued bonds, sukuk, or convertible bonds.
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PERFORMANCE HIGHLIGHTS
Significant Events
FEBRUARY 1, 2024
Launch of Avian Cling Water Based Launch of Boyo Politur Spray
Avian Brands launched Avian Cling Water Based, a water-based Avian Brands launched Boyo Politur Spray, the first spray wood
synthetic paint product for application on metal, wood and polish product in Indonesia. It contains modified urethane,
walls. Using high-quality acrylic resin, it prevents yellowing designed for easy application by anyone, anywhere, anytime.
and comes with a long-lasting glossy look. Its advantages It can reach tight areas of the wood surface, resulting in a
include sticking directly to the metal without primer, being smoother, more consistent finish. With its quick-drying and
odorless, and being environmentally friendly. This product may UV-resistant formula, Boyo Politur Spray is ideal for use on
be applied by various methods, including brush, spray, and both interior and exterior wood. Other advantages include
roll, providing flexibility in its application. Available in various no pungent odor and no lead contents, ensuring a safe and
attractive colors, Avian Cling Water Based is the ideal solution convenient application. Available in four favorite wood colors,
for customers looking for beautiful and long-lasting finishes. Boyo Politur Spray offers a no-fuss, high-quality solution for
wood beauty and preservation. Simply Spray, No Hassle.
(Tinggal Semprot, Tanpa Repot).
FEBRUARY 22, 2024
Launch of No Drop Tile Grout
Avian Brands launched No Drop Tile Grout, the first ceramic
tile grout filler product in Indonesia, specifically designed
with the main features of being leakproof and resistant to
ceramic cleaning liquid. This innovative product provides
maximum protection for ceramic tile grout, ensuring that floor
and wall areas remain protected from dampness and leaks.
Designed to meet customers’ needs in various environments,
No Drop Tile Grout provides a durable and resilient solution
against exposure to water and cleaning chemicals. It is easy
to apply, and its finishing result ensures a tighter and more
durable grout, making it the best choice for maintaining a clean
and beautiful ceramic tile surface. With No Drop Tile Grout,
Avian Brands continues to deliver innovative solutions to support
household comfort and protection.
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PT Avia Avian Tbk • 2024 Annual Report
MARCH 1, 2024
Launch of No Drop Dempul Instan Launch of No Drop Serat Fiber
Avian Brands launched No Drop Dempul Instant, a practical Avian Brands launched No Drop Fiber, an innovative product
solution to seal holes in the walls quickly and easily with zero specifically designed to reinforce the waterproofing layers of
hassle. This product is specifically designed to repair minor your house or building, ensuring longer prevention against
damage to walls, such as holes or cracks, with neat and smooth leakage. This product uses high-quality fiber that effectively
results. This easy-to-use product allows anyone to apply it fills cracks, providing extra protection to walls and roofs
without requiring any special skills. With its quick-drying from damage caused by water and weather changes. With
formula, this product enables instant and efficient repairs, its excellent durability, No Drop Serat Fiber helps preserve
bringing walls back to their original condition in no time. the building’s integrity in the long run. It is easy to apply and
provides strong and durable results, making it the ideal solution
This product is an ideal choice for those looking for a practical
to protect surfaces against leaks and cracks.
and effective wall repair solution with no complex tools or steps
required.
MAY 13, 2024
Signing of Memorandum of Understanding between
Avian Brands and PT Bank Tabungan Negara (Persero) Tbk
(“BTN”) on Cooperation in Banking Services Provision and
Utilization
In an effort to strengthen its business network and improve
customer service, Avian Brands has established a strategic
partnership with BTN. This Memorandum of Understanding
signing marks the start of a collaboration that aims to mutually
benefit both parties through banking services provision and
utilization. Under this cooperation, BTN will recommend
Avian Brands’ paint and building materials products to its
customers, particularly those engaged in the contractor or
developer sector. Meanwhile, Avian Brands will recommend BTN
banking products and services to its customers and distributors.
This cooperation is intended to reinforce both companies’
positions in their respective markets as well as open up new
opportunities for product innovation and improved customer
service. This synergy showcases the commitment of both Avian
Brands and BTN to supporting economic growth by providing
comprehensive and efficient solutions in their respective fields.
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PERFORMANCE HIGHLIGHTS
JUNE 1, 2024
Launch of GM 385 Perekat Bata Ringan Ekonomis
Avian Brands launched GM 385 Perekat Bata Ringan Ekonomis,
a practical and efficient solution for lightweight brick wall
installation. This product is designed as a ready-to-use
adhesive that offers excellent quality and easy applicability.
GM 385 Perekat Bata Ringan Ekonomis is an instant mortar
made from the best quality cement, silica sand, filler, additives,
and special polymer. All such materials are homogeneously
mixed under the highest quality standards, resulting in a
sturdy, durable, and economical adhesive. With this superior
formulation, this product not only eases the construction
process, but also improves time and cost efficiency, making it
the right choice for construction professionals.
JUNE 1, 2024
Launch of Pro-X 208
Avian Brands launched Pro-X 208, the latest innovation in
2-component waterproofing solutions with cutting-edge
technology. This product is designed as a 2-component
waterproofing based on cement, filler, additives, and Acrylic
Copolymer, specifically formulated with Prolastic Technology
to offer various advantages such as elastic properties, UV
resistance, water resistance, and ease of application. Pro-X 208
can be exposed or does not require a topcoat or an outer layer,
making it more practical and efficient for various construction
needs. This product is perfect for use on decks, balconies,
terraces, bathrooms, and swimming pools on concrete, precast,
and other cement-based surfaces. With a combination of
advanced technology and outstanding performance, Pro-X 208
not only provides maximum waterproof protection, but also
ensures optimal durability for various types of surfaces.
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PT Avia Avian Tbk • 2024 Annual Report
JUNE 3, 2024
Through inclusion in SRI-KEHATI and ESGSKEHATI Indexes,
Avian Brands Proves its Sustainable Business Practices
Avian Brands’ stock, with stock code AVIA, made history through
its inclusion as a constituent of the SRI-KEHATI Index for the
period of June 3, 2024, to November 29, 2024, as announced
by the Indonesia Stock Exchange (IDX) on May 27, 2024.
The SRI-KEHATI Index includes the 25 best stocks based on
environmental, social, and governance / “ESG” performance
assessment, as well as having good liquidity.
In addition to inclusion in the SRI-KEHATI Index, AVIA shares are
also included in the ESGSKEHATI Index, which measures stock
performance based on sustainability aspects with a deeper
focus on ESG. Avian Brands’ inclusion in these two indexes
further confirms AVIA as the top choice for investors prioritizing
sustainable investment principles. Avian Brands is hopeful that
this achievement will encourage further innovation and
sustainability, and continue to provide added value to
stakeholders through responsible business practices.
JUNE 25, 2024
Avian Brands Securing Two More Global Product Patents
Avian Brands’ commitment to product innovation is again
evidenced by obtaining two new global patents. The first patent
obtained was for “Magnetite Paint (Fe₃O₄)” applied to HomeDeco
Magnetic product. HomeDeco Magnetic is a water-based paint,
specifically formulated to produce a coating with magnetic
attraction on the applied area. An environmentally friendly
paint product with the Singapore Green Label certification,
HomeDeco Magnetic is also capable of transforming any surface
into a magnet-attracting medium.
The second patent was the “Additive for Accelerating the
Hardening and Reinforcing of Enhanced Concrete” applied to
No Drop Plaston product. No Drop Plaston is a concrete additive
developed with the most advanced technology, which offers
a more vivid color in concretes, protects structures against
rust, and accelerates concrete hardening. This results from its
composition, which reduces water usage in the cement mixture,
giving it a better density, having a waterproofing effect, and
making it easier to apply. Both patents reflect Avian Brands’
determination and commitment to delivering innovative and
high-quality products.
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PERFORMANCE HIGHLIGHTS
AUGUST 1, 2024
Launch of No Drop Beton dan Batu Alam Launch of Avian Non-Sag Epoxy Hemat
Avian Brands launched No Drop Beton dan Batu Alam, Avian Brands launched Avian Non-Sag Epoxy Hemat,
an innovative water-based coating formulated with Nano an affordable two-component epoxy glue designed to
Particle technology. This product is specifically designed for bond various types of substrates such as wood, ceramics,
concrete and natural stone, and it works by penetrating deeply glass, and metal. It has the advantage of being applicable
into the material’s pores without forming a layer that covers to damp or wet surfaces, thus providing more flexibility.
the surface, thus maintaining the natural look of concrete and Avian Non-Sag Epoxy Hemat already contains filler, allowing
natural stone. No Drop Beton dan Batu Alam is perfect for it to be utilized as a putty to seal cracks or damage on the
industrial-style concrete as well as various types of natural stone substrate. This product offers a practical and economical
such as limestone and palimanan. In addition to providing solution for customers needing strong and versatile adhesives.
optimal protection, this product is also water-resistant, With its reliable performance, Avian Non-Sag Epoxy Hemat is
weather-resistant, and able to prevent mold and mildew, the right choice for various repair applications.
making it the perfect solution for extending the life span of
materials as well as maintaining building aesthetics.
AUGUST 2, 2024
Avian Brands Receiving the 2024 ESG Award
as Best Issuer in the Capital Market Sector
Avian Brands was honored with the 2024 ESG Award, as
the Best Issuer in the Capital Market Sector from Yayasan
Keanekaragaman Hayati Indonesia (KEHATI). This accolade
affirms Avian Brands’ firm commitment to ESG principles in every
aspect of its operations. This honor came after other notable
achievements of Avian Brands, i.e., its inclusion in various ESG
indexes in the capital market, such as ESG Quality 45 IDX KEHATI
(ESGQKEHATI) for the December 2023 to May 2024 period,
as well as SRI-KEHATI, ESGSKEHATI, and ESGQKEHATI indexes for
the June 2024 to November 2024 period.
The judging process for this award considered various factors,
such as a high ESG KEHATI score, an improved ESG score
compared to the previous period, and Avian Brands’ commitment
to ESG-based products and managed funds. This recognition
reflects Avian Brands’ determination to implement sustainability
initiatives that not only increase value for Shareholders,
but also deliver long-term positive impacts for society and the
environment.
18
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PT Avia Avian Tbk • 2024 Annual Report
AUGUST 7, 2024
Avian Brands Receiving the 2024 Katadata ESG Award
in the Chemicals Sector for the Environment Category
Avian Brands was honored with the 2024 Katadata ESG Award
in the Chemicals Sector for the Environment Category. This was
awarded as a form of appreciation for Avian Brands’ commitment
to implementing sustainability programs and principles in
all operational activities. Katadata’s analysis and assessment
involved industry experts utilizing various data sources of Avian
Brands, such as the Sustainability Report, ISO certifications, and
PROPER rating from the Ministry of Environment and Forestry
(Kementerian Lingkungan Hidup dan Kehutanan or KLHK).
This recognition further solidifies Avian Brands’ position as
a leader in the national paint industry that always actively
implements sustainability principles.
Through this award, Avian Brands successfully proved that
sustainability is not just a priority, but also an integral part of
its business strategy. With a focus on improving operational
efficiency that is environmentally friendly, Avian Brands
continues to advance its commitment to environmental
preservation and social welfare. This achievement is consistent
with Avian Brands’ commitment to being an environmentally
and socially responsible company while promoting a national
sustainability agenda.
SEPTEMBER 1, 2024
Launch of Supersilk Semi Kilap
Avian Brands launched Supersilk Semi Kilap, a premium
interior wall paint that provides a semi-gloss finish, to create
a smooth and luxurious glossy look on the house walls.
This product offers exceptional durability, ensuring the walls
look new and beautiful for a long time. Supersilk Semi Kilap
also comes with an easy-to-clean feature, ensuring easy daily
maintenance. This paint also boasts anti-bacterial, anti-mold,
and anti-mildew properties, keeping a clean and healthy indoor
environment. With a mix of superior performance and luxury
aesthetics, Supersilk Semi Kilat is the perfect choice for a more
luxurious and spacious-looking home.
19
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PERFORMANCE HIGHLIGHTS
OCTOBER 7, 2024
Avian Brands Receiving
the 2023 Annual Report Award
Avian Brands successfully received the 2023 Annual Report
Award, an achievement that highlighted its commitment
to transparency and accountability in its Annual Report.
This award recognized Avian Brands’ dedication to presenting
accurate and comprehensive information that is easily
accessible and understandable by stakeholders. Underpinning
this award was the consistent effort of the entire Avian Brands’
team to implement the best standards for reporting and
disclosing Avian Brands’ performance, particularly disclosure
of ESG, sustainability, and good corporate governance aspects.
Having received the Annual Report Award 2023, Avian Brands
is further encouraged to maintain and improve the standards
of transparency it has already achieved. Avian Brands is
committed to constantly strengthening integrity in every aspect
of its operations, which in turn provides added value to all
stakeholders.
NOVEMBER 1, 2024
Launch of No Drop Kolam Ikan
Avian Brands launched No Drop Kolam Ikan, a practical paint for
fishponds designed to address customers’ needs for easy-to-use,
safe, and durable pond coatings. No Drop Kolam Ikan comes
as a ready-to-use one-component solution, allowing for more
practical and efficient use. With a special formulation that prevents
leakage and contains no cement, this product protects the beauty
of the fishpond without risk of leaking, ensuring maximum
protection and safety for the aquatic ecosystem and the fish in it.
No Drop Kolam Ikan is ideal for customers looking for an optimal
finish with a simple application process. This product is designed
to be highly water resistant, keeping the pool in excellent
condition despite constant exposure to water. As a water-based
paint that has been certified with the Singapore Green Label,
No Drop Kolam Ikan is highly safe for all kinds of fish.
NOVEMBER 1, 2024
Launch of GM 265 Acian Abu-abu Ekonomis
Avian Brands launched GM 265 Acian Abu-Abu Ekonomis,
a practical and efficient solution for leveling and polishing the
surface of plastered or concrete walls. This product is designed
as a ready-to-use, gray-colored instant skim coat for interior and
exterior use, prior to painting or wallpaper installation stage.
GM 265 Acian Abu-Abu Ekonomis is an instant cement based on
cement, filler, additives, and special polymer, homogeneously
mixed to produce a flat and smooth wall surface ready for finishing.
With its high-quality formulation, this product not only speeds up
the working process, but also provides a neat and durable finish.
20
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PT Avia Avian Tbk • 2024 Annual Report
NOVEMBER 1, 2024
Launch of GM 275 Acian Putih Ekonomis
Avian Brands launched GM 275 Acian Putih Ekonomis,
a practical and efficient solution for leveling and polishing the
surface of plastered or concrete walls. This product is designed
as a ready-to-use, white-colored instant skim coat for interior
and exterior use, prior to painting or wallpaper installation.
GM 275 Acian Putih Ekonomis is an instant cement based on
cement, filler, additives, and special polymer, homogeneously
mixed to produce a flat and smooth surface ready for finishing.
With its high-quality formulation, this product not only speeds up
the working process, but also provides a neat and durable finish.
NOVEMBER 6, 2024
Avian Brands’ Inclusion in Forbes
“200 Best Under A Billion 2024” List
Avian Brands was included in the Forbes “200 Best Under
A Billion 2024” list, a prestigious award that recognizes exceptional
performance of small and medium-sized public companies in the
Asia-Pacific region. With the award license valid for 12 months,
from November 6, 2024, to November 6, 2025, this achievement
is a true testament to Avian Brands’ resilience amidst dynamic
and uncertain global economic challenges. The Forbes “200 Best
Under A Billion 2024” is awarded to companies having less than
US$1 billion in revenues, but capable of showing impressive
performance in terms of growth, profitability, and business
potential. This award confirms Avian Brands’ strong competitive
edge in the international market as well as its commitment to
continuously deliver outstanding performance that supports
sustainable growth.
NOVEMBER 25, 2024
Avian Brands Receiving the
Top 50 Big Capitalization Public Listed Company Award
Avian Brands was honored with the Top 50 Big Capitalization
Public Listed Company award from the Indonesian Institute
for Corporate Directorship (“IICD”) as an appreciation for its
large market capitalization and successful implementation of
outstanding Good Corporate Governance (“GCG”) practices.
This achievement reflects a high level of investors’ and
stakeholders’ trust in Avian Brands’ performance, business
prospects, and commitment to transparent and accountable
governance.
This results from consistent implementation of business
strategies and GCG principles to support sustainable growth.
This award further motivates Avian Brands to maintain its
position as a public company with a large market capitalization
that has comprehensively implemented GCG to contribute to
the national economy.
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PERFORMANCE HIGHLIGHTS
DECEMBER 1, 2024
Launch of Supersilk Basic Launch of Avian Cat Lapangan
Avian Brands launched Supersilk Basic, a premium interior Avian Brands launched Avian Cat Lapangan, a multi-purpose
wall paint designed to meet the customers’ needs for floor paint product specifically designed to meet various
more affordable premium products. With the Super-Cover needs of painting floor surfaces. This product can be applied
Technology innovation, Supersilk Basic presents a paint color to sports fields, parking lots, and various types of surfaces
solution that prevents streaks, providing the perfect finish made from cement, asphalt, and concrete substrates.
with an ultra matt appearance. This ensures more elegant and With its superior formulation, Avian Cat Lapangan provides
durable interior walls while ensuring customer satisfaction by a long-lasting and aesthetically pleasing finish, while also
creating a comfortable and aesthetically pleasing space. ensuring optimal durability under various usage conditions.
This product is the ideal solution for creating a professional and
functional surface appearance, certified by the International
Tennis Federation making it the perfect choice for both
commercial and personal use.
DECEMBER 3, 2024
Avian Brands Receiving the Green Industry Leader Award
at the 2024 Green Future Summit
Avian Brands received the Green Industry Leader award from
Sun Energy at the 2024 Green Future Summit. This was awarded
in recognition of Avian Brands’ success in adopting sustainability
principles in every aspect of its operations. As part of its
long-term commitment to sustainable development,
Avian Brands has integrated environmentally friendly practices
into its business processes, from energy efficiency, waste
management, to green product development. These measures
not only strengthen operational performance, but also bring
about tangible positive impacts on the environment and society.
This honor serves as a recognition of Avian Brands’ dedication to
consistently carrying out its environmental responsibilities.
DECEMBER 31, 2024
Avian Brands’ Continued Expansion of
Distribution Networks in Various Regions in Indonesia
Avian Brands expanded the reach of its national distribution
networks by increasing the number of its wholly-owned
distribution centers to 124, located in 34 provinces and 98 cities
in Indonesia, as well as 15 mini-distribution centers located
in several cities. The distribution centers are operated by two
subsidiaries, namely PT Tirtakencana Tatawarna (“TKTW”) and
PT Tirtakencana Batamindo (“TKBI”).
22
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PT Avia Avian Tbk • 2024 Annual Report
Awards and Certifications
AWARDS
1 2 3 4
2024 ESG Award as 2024 Katadata Environmental, Appreciation for Avian Brands’ 2023 Annual Report Award
Best Issuer in the Social, & Governance Award Initiatives in Promoting Blood
Capital Market Sector (“KESGI”) Donation in 2023
ESG Award in the Chemicals Sector Ninth (IX) Highest Blood Donation
for the Environment Category (308 Blood Bags)
Organizer: Organizer: Organizer: Organizer:
Yayasan Keanekaragaman Hayati Katadata Indonesia Red Cross of National Committee on
Indonesia (“KEHATI”) Recipient: Sidoarjo Regency Governance Policy
Recipient: PT Avia Avian Tbk Recipient: (Komite Nasional Kebijakan
PT Avia Avian Tbk PT Avia Avian Tbk Governansi or “KNKG”)
Period:
Period: 2024 Period: Recipient:
2024 2024 PT Avia Avian Tbk
Period:
2024
5 6 7 8
Forbes “200 Best Under National PROPER Top 50 Big Capitalization Green Industry Leader
A Billion 2024” Green Rating Public Listed Company at the 2024 Green Future Summit
Organizer: Organizer: Organizer: Organizer:
Forbes Ministry of Environment and Indonesian Institute for Corporate Sun Energy
Recipient: Forestry of the Republic of Directorship (“IICD”) Recipient:
PT Avia Avian Tbk Indonesia Recipient: PT Avia Avian Tbk
Period: Recipient: PT Avia Avian Tbk Period:
2024 PT Avia Avian Tbk Period: 2024
Period: 2024
2023 - 2024
23
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PERFORMANCE HIGHLIGHTS
CERTIFICATION
International Standardization Organization (“ISO”)
The ISO certification is an international standard used to assess and recognize Avian Brands’ management systems in
various sectors. This certification reflects Avian Brands’ commitment to operating with the principles of efficiency, quality,
sustainability and safety. By obtaining the ISO certifications in several key areas, Avian Brands ensures implementation of
best practices that comply with global standards, thus supporting Avian Brands’ performance in creating a safe, efficient
and sustainable work environment. By the end of 2024, Avian Brands had obtained 5 ISO certifications in several areas,
as described below:
Name of Certification Organizer Validity Period
ISO 14001:2015 on Environmental Management System 1 PT Lloyd’s Register Indonesia Until February 18, 2025
ISO 50001:2018 on Energy Management System 2 PT Lloyd’s Register Indonesia Until March 2, 2025
ISO/IEC 27001:2013 on Information Security
Intertek Certification Limited Until October 31, 2025
Management System 3
ISO 9001:2015 on Quality Management System 4 LRQA Limited Until February 27, 2027
ISO 45001:2018 on Occupational Health and
LRQA Limited Until October 26, 2027
Safety Management System 5
1 2 3
Current issue date: 19 February 2022 Original approval(s): Current Issue Date: 3 March 2022 Original approval(s):
Expiry date: 18 February 2025 ISO 14001 - 19 February 2013 Expiry Date: 2 March 2025 ISO 50001 - 3 March 2022
Certificate identity number: 10424288 Certificate Identity Number: 10430998
Certificate of Approval Certificate of Approval
This is to certify that the Management System of: This is to certify that the Management System of:
PT Avia Avian Tbk PT Avia Avian Tbk
Jl Raya Surabaya-Sidoarjo Km 19, Desa Wadungasih, Buduran Sidoarjo, East Java, Indonesia Jl Raya Surabaya-Sidoarjo Km.19, Desa Wadungasih Buduran Sidoarjo, East Java, 61252, Indonesia
has been approved by LRQA to the following standards: has been approved by LRQA to the following standards:
ISO 14001:2015 ISO 50001:2018
Approval number(s): ISO 14001 – 00053962 Approval Number(s): ISO 50001 – 00035106
This certificate is valid only in association with the certificate schedule bearing the same number on which the locations applicable
to this approval are listed.
The scope of this approval is applicable to:
Manufacture of paint and resin including can making and mortar product. The scope of this approval is applicable to:
Manufacture of paint and resin including can making and mortar product.
Luis Cunha Luis Cunha
________________________ ________________________
Area Operations Manager - SAMEA Area Operations Manager - SAMEA
Issued by: PT. Lloyd's Register Indonesia Issued by: PT. Lloyd's Register Indonesia
for and on behalf of: LRQA Limited for and on behalf of: LRQA Limited
LRQA Group Limited, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as 'LRQA'. LRQA Group Limited, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as 'LRQA'.
LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or
howsoever provided, unless that person has signed a contract with the relevant LRQA entity for the provision of this information or advice and in that case any responsibility or howsoever provided, unless that person has signed a contract with the relevant LRQA entity for the provision of this information or advice and in that case any responsibility or
liability is exclusively on the terms and conditions set out in that contract. liability is exclusively on the terms and conditions set out in that contract.
Issued by: PT. Lloyd's Register Indonesia, LRQA Indonesia, Dea Tower 1 12th Floor, Kawasan Mega Kuningan, Jl. Mega Kuningan Barat IX Kav. E4.3 No.1, Jakarta 12950, Issued by: PT. Lloyd's Register Indonesia, LRQA Indonesia, Dea Tower 1 12th Floor, Kawasan Mega Kuningan, Jl. Mega Kuningan Barat IX Kav. E4.3 No.1, Jakarta 12950,
Indonesia for and on behalf of: LRQA Limited, 1 Trinity Park, Bickenhill Lane, Birmingham B37 7ES, United Kingdom Indonesia for and on behalf of: LRQA Limited, 1 Trinity Park, Bickenhill Lane, Birmingham B37 7ES, United Kingdom
Page 1 of 1 Page 1 of 2
Page 1 of 2
Page 1 of 1 Indonesia for and on behalf of: LRQA Limited, 1 Trinity Park, Bickenhill Lane, Birmingham B37 7ES, United Kingdom
Indonesia for and on behalf of: LRQA Limited, 1 Trinity Park, Bickenhill Lane, Birmingham B37 7ES, United Kingdom Issued by: PT. Lloyd's Register Indonesia, LRQA Indonesia, Dea Tower 1 12th Floor, Kawasan Mega Kuningan, Jl. Mega Kuningan Barat IX Kav. E4.3 No.1, Jakarta 12950,
Issued by: PT. Lloyd's Register Indonesia, LRQA Indonesia, Dea Tower 1 12th Floor, Kawasan Mega Kuningan, Jl. Mega Kuningan Barat IX Kav. E4.3 No.1, Jakarta 12950, liability is exclusively on the terms and conditions set out in that contract.
liability is exclusively on the terms and conditions set out in that contract. howsoever provided, unless that person has signed a contract with the relevant LRQA entity for the provision of this information or advice and in that case any responsibility or
howsoever provided, unless that person has signed a contract with the relevant LRQA entity for the provision of this information or advice and in that case any responsibility or LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or
LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or LRQA Group Limited, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as 'LRQA'.
LRQA Group Limited, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as 'LRQA'.
for and on behalf of: LRQA Limited
for and on behalf of: LRQA Limited
Issued by: PT. Lloyd's Register Indonesia
Issued by: PT. Lloyd's Register Indonesia
Area Operations Manager - SAMEA
Area Operations Manager - SAMEA
________________________
________________________
Luis Cunha
Luis Cunha
4 5
Manufacture of paint and resin including can making and mortar product.
The scope of this approval is applicable to:
Manufacture of paint and resin including can making and mortar product.
The scope of this approval is applicable to: to this approval are listed.
This certificate is valid only in association with the certificate schedule bearing the same number on which the locations applicable
Approval Number(s): ISO 50001 – 00035106
Approval number(s): ISO 14001 – 00053962
ISO 50001:2018
ISO 14001:2015
has been approved by LRQA to the following standards:
has been approved by LRQA to the following standards:
Jl Raya Surabaya-Sidoarjo Km.19, Desa Wadungasih Buduran Sidoarjo, East Java, 61252, Indonesia
Jl Raya Surabaya-Sidoarjo Km 19, Desa Wadungasih, Buduran Sidoarjo, East Java, Indonesia
PT Avia Avian Tbk PT Avia Avian Tbk
Current issue date: 28 February 2024 Original approval(s): Current issue date: 27 October 2024 Original approval(s):
Expiry date: 27 February 2027 ISO 9001 - 28 February 2007 Expiry date: 26 October 2027 ISO 45001 - 5 November 2020
Certificate identity number: 10582361 This is to certify that the Management System of: Certificate identity number: 10639949
This is to certify that the Management System of:
Certificate of Approval Certificate of Approval
Certificate of Approval Certificate of Approval
Certificate Identity Number: 10430998
Certificate identity number: 10424288 This is to certify that the Management System of: Expiry Date: 2 March 2025 ISO 50001 - 3 March 2022 This is to certify that the Management System of:
Expiry date: 18 February 2025 ISO 14001 - 19 February 2013 Current Issue Date: 3 March 2022 Original approval(s):
PT Avia Avian Tbk PT Avia Avian Tbk
Current issue date: 19 February 2022 Original approval(s):
Jl Raya Surabaya-Sidoarjo Km 19, Desa Wadungasih, Buduran Sidoarjo, East Java, Indonesia Jl Raya Surabaya-Sidoarjo Km 19, Desa Wadungasih, Buduran Sidoarjo, East Java, Indonesia
has been approved by LRQA to the following standards: has been approved by LRQA to the following standards:
ISO 9001:2015 ISO 45001:2018
Approval number(s): ISO 9001 – 0044727 Approval number(s): ISO 45001 – 0044850
This certificate is valid only in association with the certificate schedule bearing the same number on which the locations applicable This certificate is valid only in association with the certificate schedule bearing the same number on which the locations applicable
to this approval are listed. to this approval are listed.
The scope of this approval is applicable to: The scope of this approval is applicable to:
Manufacture of paint, resin, can making and mortar product. Manufacture of paint and resin including can making and mortar product.
Luis Cunha Luis Cunha
________________________ ________________________
Area Operations Manager - North Asia & SAMEA Area Operations Manager - North Asia & SAMEA
Issued by: LRQA Limited Issued by: LRQA Limited
LRQA Group Limited, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as 'LRQA'. LRQA Group Limited, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as 'LRQA'.
LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or
howsoever provided, unless that person has signed a contract with the relevant LRQA entity for the provision of this information or advice and in that case any responsibility or howsoever provided, unless that person has signed a contract with the relevant LRQA entity for the provision of this information or advice and in that case any responsibility or
liability is exclusively on the terms and conditions set out in that contract. liability is exclusively on the terms and conditions set out in that contract.
Issued by: LRQA Limited, 1 Trinity Park, Bickenhill Lane, Birmingham B37 7ES, United Kingdom Issued by: LRQA Limited, 1 Trinity Park, Bickenhill Lane, Birmingham B37 7ES, United Kingdom
Page 1 of 2 Page 1 of 2
Page 1 of 2 Page 1 of 2
Issued by: LRQA Limited, 1 Trinity Park, Bickenhill Lane, Birmingham B37 7ES, United Kingdom Issued by: LRQA Limited, 1 Trinity Park, Bickenhill Lane, Birmingham B37 7ES, United Kingdom
liability is exclusively on the terms and conditions set out in that contract. liability is exclusively on the terms and conditions set out in that contract.
howsoever provided, unless that person has signed a contract with the relevant LRQA entity for the provision of this information or advice and in that case any responsibility or howsoever provided, unless that person has signed a contract with the relevant LRQA entity for the provision of this information or advice and in that case any responsibility or
LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or LRQA assumes no responsibility and shall not be liable to any person for any loss, damage or expense caused by reliance on the information or advice in this document or
LRQA Group Limited, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as 'LRQA'. LRQA Group Limited, its affiliates and subsidiaries and their respective officers, employees or agents are, individually and collectively, referred to in this clause as 'LRQA'.
Issued by: LRQA Limited Issued by: LRQA Limited
Area Operations Manager - North Asia & SAMEA Area Operations Manager - North Asia & SAMEA
________________________ ________________________
Luis Cunha Luis Cunha
Manufacture of paint, resin, can making and mortar product.
Manufacture of paint, resin, can making and mortar product.
The scope of this approval is applicable to:
The scope of this approval is applicable to:
to this approval are listed.
This certificate is valid only in association with the certificate schedule bearing the same number on which the locations applicable to this approval are listed.
This certificate is valid only in association with the certificate schedule bearing the same number on which the locations applicable
Approval number(s): ISO 9001 – 0044727
Approval number(s): ISO 9001 – 0044727
ISO 9001:2015
ISO 9001:2015
has been approved by LRQA to the following standards:
has been approved by LRQA to the following standards:
Jl Raya Surabaya-Sidoarjo Km 19, Desa Wadungasih, Buduran Sidoarjo, East Java, Indonesia
24
Jl Raya Surabaya-Sidoarjo Km 19, Desa Wadungasih, Buduran Sidoarjo, East Java, Indonesia
PT Avia Avian Tbk PT Avia Avian Tbk
This is to certify that the Management System of:
This is to certify that the Management System of:
Certificate of Approval Certificate of Approval
Certificate identity number: 10582361
Expiry date: 27 February 2027 ISO 9001 - 28 February 2007
Current issue date: 28 February 2024 Original approval(s): Certificate identity number: 10582361
Expiry date: 27 February 2027 ISO 9001 - 28 February 2007
Current issue date: 28 February 2024 Original approval(s):
Page 27
PT Avia Avian Tbk • 2024 Annual Report
Indonesian National Standard (“SNI”)
The SNI is a standard applied in Indonesia to ensure quality, safety and performance of manufactured products,
in accordance with applicable requirements. The SNI certification reflects Avian Brands’ commitment to delivering
high-quality products that not only comply with national quality standards, but are also competitive in a wider market. With
this certification, Avian Brands continues to solidify its position in the domestic market, while simultaneously promoting the
achievement of better standards of quality in every product offered. By the end of 2024, Avian Brands had obtained 2 SNI
standards for 7 products, as described below:
Name of Certification Product Type Organizer Validity Period
SNI 3564:2014 1 Sunguard Exterior Chempack Product Certification Institute
of the Center for Standardization, and
Aquamatt, Aries Servicesof Chemical, Pharmaceutical and Until November 3, 2026
SNI 3564:2014 2 Gold, Avitex, Everglo, Interior Packaging Industry, Ministry of Industry
Supersilk, and No Odor of the Republic of Indonesia
1 2
25
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PERFORMANCE HIGHLIGHTS
Singapore Green Label (“GLS”)
The GLS certification is a recognition for environmentally friendly products that are assessed through strict processes in
various aspects, from environmentally friendly requirements for end users, to consideration of the entire product life cycle by
means of life cycle analysis. This certification is a testament to Avian Brands’ commitment to manufacturing environmentally
friendly products that are safe for customers. This widely recognized certification lends credibility through international
accreditation and ensures that Avian Brands’ products comply with stringent sustainability standards. In addition to opening
up new market opportunities, this certification also brings competitive advantages, reduces environmental impact, and
improves production efficiency, while simultaneously saving costs. Among Avian Brands’ flagship products that have
obtained GLS certification are those of the Avitex series, and by the end of 2024, a total of 34 Avian Brands’ products are
GLS-certified, as described below:
Product Organizer Validity Period
Avitex Alkali Resisting Primer 1 Singapore Environment Council Until January 18, 2025
Avitex Wizz 2 Singapore Environment Council Until March 22, 2025
Brilliant Exterior 3 Singapore Environment Council Until June 13, 2025
No Drop Basic 4 Singapore Environment Council Until June 13, 2025
Avitex Emulsion 5 Singapore Environment Council Until June 13, 2025
Brilliant Cat Tembok Interior 6 Singapore Environment Council Until July 18, 2025
Sunguard 7 Singapore Environment Council Until November 24, 2025
Everglo 8 Singapore Environment Council Until November 24, 2025
Supersilk 9 Singapore Environment Council Until November 24, 2025
Avitex Dapur & Kamar Mandi 10 Singapore Environment Council Until November 24, 2025
Aquamatt 11 Singapore Environment Council Until November 24, 2025
Lenkote Alkali Resisting Primer 12 Singapore Environment Council Until November 24, 2025
No Odor 13 Singapore Environment Council Until November 24, 2025
Supersilk Semi Kilap 14 Singapore Environment Council Until November 24, 2025
No Drop Anti Panas 15 Singapore Environment Council Until December 22, 2025
Avitex Gold 16 Singapore Environment Council Until December 22, 2025
Avitex 4 Kids 17 Singapore Environment Council Until February 26, 2026
Everglo Kids Care 18 Singapore Environment Council Until February 26, 2026
Avian Cat Lapangan Waterbase 19 Singapore Environment Council Until March 19, 2026
No Drop Beton dan Batu Alam 20 Singapore Environment Council Until March 19, 2026
No Drop Kolam Ikan 21 Singapore Environment Council Until March 19, 2026
Supersilk Anti-Noda 22 Singapore Environment Council Until May 29, 2026
Lenkote Home Deco Metallic Paint Gold 23 Singapore Environment Council Until July 24, 2026
Sunguard All-In-One 24 Singapore Environment Council Until August 7, 2026
Avitex Anti Viruz 25 Singapore Environment Council Until August 19, 2026
Home Deco Glow In The Dark Interior Paint 26 Singapore Environment Council Until August 19, 2026
Home Deco Magnetic Interior Paint 27 Singapore Environment Council Until August 19, 2026
Supersilk Basic 28 Singapore Environment Council Until September 2, 2026
Home Deco Glitz 29 Singapore Environment Council Until September 9, 2026
Wood Eco Woodstain Water Based 30 Singapore Environment Council Until November 9, 2026
Avitex Eksterior 31 Singapore Environment Council Until November 9, 2026
Boyo Special Politur Vernis Water Based 32 Singapore Environment Council Until November 9, 2026
No Lumut Water-Based 33 Singapore Environment Council Until November 9, 2026
Avitex One Coat 34 Singapore Environment Council Until December 21, 2026
26
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PT Avia Avian Tbk • 2024 Annual Report
PT. Avia Avian
Jl. Raya Surabaya – Sidoarjo Km 19, Desa Wadung Asih,
Buduran, Sidoarjo 61252, Indonesia
AVITEX ALKALI RESISTING PRIMER
032-219-4089
Environmentally Preferred Paint
(In accordance to SEC Green Label Category 32: Paints and Surface Coatings)
Validity: 19 January 2023 to 18 January 2025
Validity: 19 January 2023 to 18 January 2025
(In accordance to SEC Green Label Category 32: Paints and Surface Coatings)
Environmentally Preferred Paint
032-219-4089
AVITEX ALKALI RESISTING PRIMER
Buduran, Sidoarjo 61252, Indonesia
Jl. Raya Surabaya – Sidoarjo Km 19, Desa Wadung Asih,
PT. Avia Avian
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PERFORMANCE HIGHLIGHTS
Domestic Component Level (Tingkat Komponen Dalam Negeri or “TKDN”)
The TKDN certification is a recognition of products that utilize domestic components and raw materials, helping
to empower domestic industries and national economic independence. Avian Brands remains committed to
obtaining this certification as part of its sustainability strategy and contribution to domestic economic development.
Among its flagship products that have obtained TKDN certification is the Sunguard All-In-One, which prides itself on high
quality with predominantly domestic components. In total, by the end of 2024, 36 Avian Brands’ products have successfully
obtained TKDN certification as described below:
Product Organizer Validity Period
Aries Gold 1 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Avian Cat Aluminium 2 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Avian Cat kayu dan Besi 3 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Avitex Alkali Resisting Primer 4 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Avitex Anti Viruz 5 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Avitex Cat Genteng & Seng 6 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Avitex Eksterior 7 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Avitex Plamir Tembok 8 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Avitex 9 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Boyo Politur Vernis Solvent Based 10 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Lenkote Wall Sealer 11 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
No Drop Anti Panas 12 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
No Drop 13 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
No Odor Medicare 14 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Supersilk Anti Noda 15 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Suzuka Cat Duco Otomotif 16 Ministry of Industry of the Republic of Indonesia Until September 15, 2026
Avian Paving Paint 17 Ministry of Industry of the Republic of Indonesia Until October 19, 2026
Avian Roadline Paint 18 Ministry of Industry of the Republic of Indonesia Until October 19, 2026
Avitex Gold 19 Ministry of Industry of the Republic of Indonesia Until October 19, 2026
Sunguard All-In-One 20 Ministry of Industry of the Republic of Indonesia Until October 19, 2026
Sunguard 21 Ministry of Industry of the Republic of Indonesia Until October 19, 2026
Supersilk 22 Ministry of Industry of the Republic of Indonesia Until October 19, 2026
Cat Besi Anti Karat Avian 3 in 1 23 Ministry of Industry of the Republic of Indonesia Until July 12, 2027
GM 420 Perekat Keramik Ekonomis 24 Ministry of Industry of the Republic of Indonesia Until September 4, 2027
GM 510 Tile Grout 25 Ministry of Industry of the Republic of Indonesia Until September 4, 2027
No Drop Mortar Anti Bocor 26 Ministry of Industry of the Republic of Indonesia Until September 4, 2027
Avia Thinner Lacquer A Special 27 Ministry of Industry of the Republic of Indonesia Until September 4, 2027
Avian Thinner B Asli 28 Ministry of Industry of the Republic of Indonesia Until September 4, 2027
Pro-X 207 29 Ministry of Industry of the Republic of Indonesia Until September 5, 2027
GM 270 Acian Putih 30 Ministry of Industry of the Republic of Indonesia Until September 5, 2027
GM 380 Perekat Bata Ringan 31 Ministry of Industry of the Republic of Indonesia Until September 5, 2027
Avian Cling Water Based 32 Ministry of Industry of the Republic of Indonesia Until November 18, 2027
Avitex Wizz 33 Ministry of Industry of the Republic of Indonesia Until November 18, 2027
Avian Cling Synthetic 34 Ministry of Industry of the Republic of Indonesia Until November 18, 2027
Avian Cling Zinc Chromate 35 Ministry of Industry of the Republic of Indonesia Until November 18, 2027
Avian Zinc Chromate 36 Ministry of Industry of the Republic of Indonesia Until November 18, 2027
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PT Avia Avian Tbk • 2024 Annual Report
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PERFORMANCE HIGHLIGHTS Other Certifications In addition to obtaining ISO, SNI, GLS, and TKDN certifications, Avian Brands has also obtained the Green Industry Certificate from the Green Industry Certification Institute of the Center for Standardization and Services of Chemical, Pharmaceutical, and Packaging Industry, Ministry of Industry of the Republic of Indonesia. This is given in recognition of Avian Brands’ efforts in implementing sustainability principles in industrial processes, from energy efficiency to resource management and reduction of environmental impacts. This Green Industry Certificate is valid until September 7, 2026, confirming Avian Brands’ commitment to continuously innovate and improve environmental performance in all operational activities, in line with the objective to support the development of environmentally friendly industries in Indonesia. 30
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PT Avia Avian Tbk • 2024 Annual Report
Management
Report
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MANAGEMENT REPORT
The Board of Commissioners
Report
“With immense pride, we appreciate the positive achievements made by Avian Brands in 2024.
Amidst the constantly evolving challenges, the Board of Directors has successfully implemented various
strategic initiatives that have not only boosted operational performance, but also strengthened Avian Brands’
position in the market. The success in both the operational and financial results of Avian Brands is a testament
to our commitment to sustainability and innovation. In addition, the accolades received throughout 2024
further reaffirm that Avian Brands is on the right track to achieve its long-term vision, and we are confident
that the Board of Directors will continue to maintain this positive momentum to achieve a better and more
sustainable future.”
Dear Valued Shareholders and Stakeholders,
Praise and gratitude to God Almighty, for the accomplishments of Avian Brands throughout 2024. This year, we observed how
global and national economic dynamics remained uncertain, due to geopolitical dynamics contributing to global economic
slowdown. Despite these challenges, we appreciate the steps taken by the Board of Directors, that further consolidated
Avian Brands’ position as a pioneer in sustainable product innovation that positively impacts the environment and the
communities. Under the visionary leadership of the Board of Directors, we saw how Avian Brands was able to overcome
challenges with well-planned strategies, ensure sustainable growth, and solidify its position in the national paint industry.
This success is a true testament to the collaboration and commitment of all elements of Avian Brands to keep pushing forward
and deliver innovative solutions relevant to the needs of an ever-changing world.
Economic Conditions in 2024
The year 2024 was marked by challenging global economic dynamics, with projected global economic growth stagnant at
3.2%. Persisting geopolitical tensions, supply chain disruptions caused by regional conflicts, and the slowdown in China’s
property sector have been the most prominent factors that inhibited the global growth rate, while continued volatility
in financial markets heightened uncertainty among investors and economic actors. On the other hand, the Asian region,
particularly its emerging markets, demonstrated encouraging performance thanks to investments in the technology sector,
particularly artificial intelligence, driving demand for semiconductors and electronic products.
On the national level, we observe that Indonesia’s economy remained fairly resilient with economic growth reaching 5.03%.
This was driven by strong domestic consumption, stable investment, and the completion of the National Strategic Projects
(Proyek Strategis Nasional or “PSN”). Household consumption was also projected to grow thanks to maintained consumer
confidence, whereas government consumption also contributed to higher spending at the end of the year. In terms of sectors,
we believe that the manufacturing and trade sectors have been the main pillars of national economic growth.
Supervision on Formulation and Implementation of Strategies
In light of the unfolding economic and industry developments throughout the year, we continuously carry out rigorous
supervision on the formulation and implementation of the strategies pursued by the Board of Directors. This is to ensure
that the measures taken are in line with the Vision and Mission of Avian Brands, and contribute to achieving long-term goals.
We also periodically evaluate the strategic plans formulated by the Board of Directors, taking into account market dynamics,
industry trends, and economic conditions that may affect the performance of Avian Brands. In addition to financial aspects,
this also includes supervision of sustainability and innovation implemented in products and services, which are integral to the
development strategy of Avian Brands.
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PT Avia Avian Tbk • 2024 Annual Report
HERMANTO TANOKO
• President Commissioner of PT Avia Avian Tbk
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MANAGEMENT REPORT We are fully supportive of the Board of Directors’ move to increase the manufacturing capacity of Avian Brands through the construction of the Water-Based Plant in Cirebon, aimed at improving operational efficiency and promoting sustainable growth. We also appreciate the addition of Green Label products that aim to expand the portfolio of environmentally friendly products, which is in line with the increasing trend of sustainability-oriented market demand. Additionally, we support the launch of new products to complement our product portfolio and meet the needs of the communities. We view these strategies as highly excellent, in line with the Board of Directors’ consistent efforts to expand the number of Distribution Centers (DCs), which will expand the distribution network and support more optimal growth in the domestic market. We believe that these strategies will strengthen Avian Brands’ market position, ensure business sustainability, and deliver significant added value to all stakeholders. Frequency and Method of Provision of Advice to the Board of Directors of Avian Brands We continuously monitor the effectiveness of the Board of Directors’ strategy implementation and actively provide input through various forums, one of which is the Joint Meeting of the Board of Commissioners and the Board of Directors. These meetings are held regularly, but input can be provided more intensively depending on situations that require deeper attention, such as market changes or strategic developments that demand swift and precise decision-making. Our input focuses on various aspects, including business strategy, risk management, Avian Brands’ sustainability, as well as operational and financial performance improvements. This approach enables us to provide a broader perspective and assist the Board of Directors in formulating policies and making decisions that enhance the competitiveness and growth of Avian Brands. Every input we provide consistently prioritizes Avian Brands’ long-term interests and business sustainability, grounded in the principles of integrity and professionalism. Assessment of the Performance of the Board of Directors Based on the results of the supervision that we have carried We also appreciate the solid financial achievements, out, we appreciate the Board of Directors’ performance with positive net revenues and profit for the year, throughout 2024 in pursuing various business targets driven by positive growth in the architectural solutions and that had been set. We observe that Avian Brands has trading goods segments. Prudent management of the cost managed to deliver positive results, despite the challenges. of goods sold and operational efficiency implemented by the We assess that the manufacturing output of Avian Brands Board of Directors have contributed to the improved profit has met the target, with a major contribution from the margin. Additionally, numerous awards received by Avian Sidoarjo Plant, reflecting the Board of Directors’ ability to Brands throughout 2024 further emphasized recognition lead the operation efficiently and effectively. In addition, for its outstanding performance and constant dedication. the launch of 15 new products and the increase in the As the Board of Commissioners, we completely support number of environmentally friendly products certified with the steps taken by the Board of Directors and are confident Singapore Green Label further emphasized Avian Brands’ that these achievements will form a solid foundation for commitment to innovation and sustainability, which is in sustainable growth in the future. line with industry trends and market expectations. Outlook on Business Prospects Considering the business prospects of Avian Brands going forward, we are optimistic that the strategic measures to be taken by the Board of Directors can optimally drive the growth and sustainability of Avian Brands. We fully support the Board of Directors’ initiatives to continuously optimize the use of advanced technology for manufacturing efficiency in order to increase productivity and reduce operating expenses. We view this measure positively, as it is in line with the programs to develop modern laboratories and to increase the number of chemists to support product innovation and ensure that Avian Brands stays ahead in the market. In addition, we support the efforts to improve supply chain quality, which will strengthen operational stability and improve our response to market demand. We also applaud the consistency of Avian Brands in making ESG principles the basis of its operations. The integration of ESG in every aspect of Avian Brands’ operations will continue to have a positive impact on environmental and social sustainability, while strengthening our reputation and stakeholder trust. 36
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PT Avia Avian Tbk • 2024 Annual Report
With the 2025 macroeconomic outlook showing a more moderate but stable growth trend, we believe these measures will
ensure that Avian Brands remains competitive, adaptive to market changes, and able to achieve its long-term goals.
Views on the Implementation of Good Corporate Governance
We appreciate the Board of Directors’ consistency in implementing Good Corporate Governance (”GCG”) in all operational
aspects of Avian Brands as an integral part of its long-term strategies. We believe that implementing GCG not only
improves operational effectiveness and efficiency but also strengthens the trust of all stakeholders, including Shareholders,
business partners, and customers.
This view is inseparable from the results of our meticulous supervision of the policies adopted by the Board of Directors,
to ensure that every decision taken always considers the long-term interests of Avian Brands and its stakeholders.
We also provide advice and recommendations on continuous improvement in implementing GCG principles, particularly
in terms of risk management, legal compliance, and supervising the implementation of sustainability-related policies.
We believe that by continuously improving GCG implementation, Avian Brands will be better prepared to overcome future
challenges and maintain sustainability while generating maximum added value for all parties involved.
Views on the Implementation of Social and Environmental Responsibility
In line with the foregoing, we also appreciate the As the Board of Commissioners, we continue to supervise
commitment of Avian Brands to implementing social and and provide direction to ensure that all sustainability
environmental responsibility in a consistent and sustainable programs not only fulfill social obligations but also
manner. We observe how the Board of Directors not only provide sustainable impacts on the communities and the
focuses on achieving financial performance but also actively environment. We believe well-implemented social and
contributes to the welfare of the communities and the environmental responsibility will strengthen Avian Brands’
preservation of the environment. The implementation of relationship with stakeholders and build a positive image.
sustainability programs by Avian Brands has led to various By continuously integrating social and environmental
initiatives, such as environmental impact reduction, aspects into every strategic decision, we believe that
efforts to improve diversity and inclusion, and social Avian Brands will be better equipped to create long-term
assistance to the surrounding communities through the value that is not only good for business but also for the
Avian Brands Peduli program. We see this as a positive step wider community and environmental sustainability.
manifested by Avian Brands, which is in line with supporting
the achievement of the Sustainable Development Goals
(“SDGs”).
Changes in the Composition of the Board of Commissioners
As of 2024, there was no change to the composition of the Board of Commissioners of Avian Brands. The composition of
the current Board of Commissioners is described as follows:
Name Appointment
Hermanto Tanoko President Commissioner
Mohammad Noor Rachman Soejoeti Independent Commissioner
The current composition of the Board of Commissioners has a term of office until the 2026 Annual General Meeting
of Shareholders.
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MANAGEMENT REPORT
Conclusion
In concluding this report, we would like to extend our highest appreciation and gratitude to all stakeholders for their continued
support of Avian Brands’ growth and achievements. We value the strong collaboration between the Board of Directors,
employees, Shareholders, customers, suppliers, and other stakeholders who have worked tirelessly together to realize the
Vision and Mission of Avian Brands. We also express our gratitude to the community and all related parties for their trust in
Avian Brands, which has enabled us to continue growing and evolving despite various challenges.
We firmly believe that with shared commitment and a spirit of collaboration, Avian Brands will continue to move forward and
achieve its long-term goals. We hope that the support given thus far will continue, fostering greater sustainability not only for
Avian Brands but also for the wider community and environment.
On behalf of the Board of Commissioners of
PT Avia Avian Tbk,
Hermanto Tanoko
President Commissioner
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PT Avia Avian Tbk • 2024 Annual Report
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MANAGEMENT REPORT
The Board of Directors
Report
“The year 2024 marks a significant milestone in Avian Brands’ journey as we navigate the challenges in
this dynamic industry while demonstrating resilience and adaptability as a leading player in the national
paint industry. By focusing on sustainable innovation, operational efficiency, and strengthening the
business ecosystem, we continue to move forward in creating a more sustainable and colorful future.
The unwavering support from all stakeholders remains the key driving force behind every step we take,
in order to meet market demands and achieve sustainable growth.”
Dear Valued Shareholders and Stakeholders,
All praise and gratitude to God Almighty for His blessings and grace bestowed upon Avian Brands throughout
2024, a year marked by various challenges. However, these challenges did not discourage us, as we successfully led
Avian Brands to record strong performance and demonstrate resilience in navigating the volatile market dynamics.
The year 2024 also marks Avian Brands’ continued commitment to move forward with a greater purpose, which is to create a
sustainable and colorful future. Beyond developing more innovative and environmentally friendly products and services, we
are also determined to strengthen our commitment to generating positive value for stakeholders, the communities, and the
environment. We believe that a more sustainable future is the key to achieving balanced growth, not just for Avian Brands but
also for everyone.
Avian Brands’ journey in achieving these accomplishments is summarized as follows.
Economic and Industrial Conditions in 2024
The year 2024 was packed with complex economic dynamics, both at the global and the national level. Globally, the economy
was projected to experience a slowdown with moderate growth of around 3.2%, lower than the pre-pandemic growth rate.
Persistent geopolitical tensions, supply chain disruptions, and financial market uncertainty were the main challenges looming
over the global economy. Moreover, tensions in several regions have heightened global market volatilities, causing more
uncertainty for investors and industry players alike. On the other hand, while global inflation was predicted to fall to 5.2%
in 2024, inflationary pressures remained high in certain sectors, such as services and energy, affecting consumer purchasing
power and increasing operating expenses for many businesses. Despite stabilization efforts, the risks of surging commodity
prices due to geopolitical tensions or natural disasters remained a threat to global economic resilience.
On the national level, Indonesia faced similar challenges, with global economic uncertainty affecting the domestic
economy. Nevertheless, the national economy growth still demonstrated resilience, with a growth achievement of 5.03%.
At 2.26%, inflation was relatively manageable in 2024, but it remained challenging, particularly for the consumer and
distribution sectors. Changes in global policies also affected international trade and investment markets, necessitating greater
domestic economic resilience. However, despite these challenges, various industry sectors continued to exhibit promising
growth opportunities, giving grounds for long-term optimism.
In 2024, the manufacturing sector reasserted its role as the backbone of the national economy. Data revealed that this
sector was the biggest contributor to the Gross Domestic Product (“GDP”). However, the dynamics of the manufacturing
industry were not without their challenges. Fluctuating raw material availability, pressure on production costs due to
energy price volatility, and the need to meet global sustainability standards were among the crucial issues. We are aware
that these challenges demand precision in strategic planning and execution, but with a focus on innovation and efficiency,
we believe that Avian Brands can continue to grow and adapt to the existing conditions.
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PT Avia Avian Tbk • 2024 Annual Report
WIJONO TANOKO
• President Director of PT Avia Avian Tbk
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MANAGEMENT REPORT
Challenges and Obstacles Faced and Main Strategies
to Drive Business Growth
Global economic uncertainty and its impact on the These Singapore Green Label-certified products are
domestic economy served as a backdrop that we had designed to offer more sustainable solutions while still
to face with utmost resilience and resourcefulness. emphasizing quality and functionality.
Amidst dynamic market fluctuations and evolving market
preferences, we believe adaptability and innovation are key In addition, we saw tremendous opportunities to meet
to survival and growth. These challenges have motivated the increasingly diverse needs of the customers, realized
us to focus more on strategic measures that can lead to through the launch of new products. We have thoughtfully
sustainable growth and generate positive impacts for all crafted these products through extensive research to meet
stakeholders. the evolving challenges and needs of the communities.
Each new product launch is expected to generate positive
One major step we have taken was the construction of the impacts for the customers and give us a competitive edge
Water-Based Plant in Cirebon, an investment that we believe in this increasingly fierce market. No less important is the
will be a significant milestone in Avian Brands’ journey ability to swiftly and efficiently reach the market, which
toward greater manufacturing efficiency and capacity. we recognize as a key factor to successful distribution.
More than just increasing capacity, this plant also Therefore, we have expanded our distribution networks
embodies our commitment to sustainability. With more by establishing new Distribution Centers (“DC”). The new
environmentally friendly manufacturing technology, we distribution centers not only accelerate product distribution,
aim to produce high-quality products with minimized but are also part of our efforts to enhance operational
environmental impacts, thus responding to market efficiency and ensure the best service for customers across
demands that increasingly emphasize the principles of Indonesia. With stronger infrastructure in place, we believe
green manufacturing. we are well-placed to deal with evolving challenges within
the domestic market.
We also recognize the need to continuously innovate in
order to stay relevant in the market. Hence, we continue These strategic measures are part of our journey towards
to expand our portfolio of products certified with a more sustainable and colorful future. We believe that by
Singapore Green Label, as part of the efforts to expand our continuously innovating, adapting, and giving our best to
environmentally friendly product portfolio. This initiative the communities and the environment, Avian Brands will be
is more than just a strategic move, but a responsibility able to overcome every challenge and achieve stronger and
to meet the expectations of customers who are more sustainable growth.
increasingly concerned with environmental sustainability.
Roles of the Board of Directors in the Formulation and
Implementation of Avian Brands’ Strategies
As an integral part of Avian Brands’ management, the Board of Directors plays a vital role in formulating and implementing
strategies that steer Avian Brands toward its long-term goals. In formulating these strategies, the Board of Directors not only
considers market and economic conditions but also upholds Avian Brands’ Vision and Mission, which focus on sustainability
and innovation. Every decision is based on a deep understanding of industry trends, market dynamics, and customer needs
and expectations, all of which are aligned with the strategic objectives to create long-term value.
Moreover, in implementing the formulated strategies, the Board of Directors is responsible for ensuring that every operational
step taken aligns with the GCG principles, maintains efficiency, and remains results-oriented. This process includes
overseeing the execution of various strategic initiatives and continuously measuring performance, to ensure all initiatives
proceed as planned and generate positive impacts. The Board of Directors also maintains continuous communication with
the Board of Commissioners to seek input and guidance, enriching perspectives in formulating and evaluating strategic
policies. The Board of Directors’ role in ensuring the effective implementation of Avian Brands’ strategies is highly crucial,
as it not only influences short-term performance but also determines long-term success that contributes to the sustainability
and stable growth of Avian Brands.
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PT Avia Avian Tbk • 2024 Annual Report
Achievements and Business Target Business Prospects
The year 2024 was a testament to the commitment and As we step into 2025, we acknowledge that the world and
hard work of all elements of Avian Brands in responding to the economy will continue to evolve. We believe there is
the global economy and industry dynamics. This year, the an air of optimism amidst persisting global uncertainties,
manufacturing output of Avian Brands reached 197,339 geopolitical tensions, and market volatility. A more moderate
metric tons, equivalent to 95.00% of the established target, and steady economic projection poses a challenge that
an increase compared to the 180,540 metric tons recorded we must overcome with alertness and adaptability.
in the previous year. Of such total output, the Sidoarjo However, within these challenges, we also see plenty of
Plant remained the key pillar with 69,91% contribution, opportunities that we can tap into. In the domestic market,
while the remaining 30.09% came from the Serang Plant. we are optimistic about gaining recovery momentum,
This success was further complemented by the launch of further strengthening Avian Brands’ position amidst the
15 new products that strengthened Avian Brands’ product competitive national paint industry.
portfolio in the market, affirming our position as a pioneer
of innovation. In addition, the strategic move to expand To maximize these opportunities, we have formulated
the number of environmentally friendly products certified a series of strategic initiatives that we believe will lead
by Singapore Green Label has yielded tangible results, with Avian Brands toward a brighter future. One of the key steps
a total of 34 certified products this year, up from 29 in the is to leverage the most advanced technology to enhance
previous year. This achievement reflects our commitment production efficiency. In a world increasingly driven by
to keep promoting sustainability through environmentally digitization and automation, we believe technology is the
friendly product innovations. key to improving operational efficiency. By integrating
cutting-edge technology, we not only aim to reduce
On the financial side, Avian Brands managed to record net production costs but also ensure that our products maintain
revenues of IDR7,471.36 billion, or 95.50% of the 2024 target, a competitive edge in the market. However, technology
with a growth of 6.48% compared to the previous year’s net alone is not enough. We are also committed to developing
revenues of IDR7,016.88 billion. This growth was fueled a modern laboratory and strengthening Avian Brands’
by the architectural solutions segment, which recorded existing team of expert chemists. We believe innovation
a growth of 4.09%, and the trading goods segment, with remains the key to staying relevant in an ever-evolving
a growth of 16.07%. Cost of goods sold was also recorded market. With more sophisticated research and development
at IDR4,130.61 billion, an increase of 7.75% compared facilities supported by highly skilled experts, Avian Brands
to IDR3,833.55 billion in 2023. The ongoing economic will continue to create innovative new products that meet
recovery has compelled us to adopt a more aggressive customer needs while maintaining the highest quality
approach to marketing and sales efforts. While, maintaining standards.
our focus on efficiency measures. With this strategy,
we successfully recorded a profit for the year 2024, reaching Supply chain quality also remains one of our top priorities.
IDR 1,663.70 billion, equivalent to 95.84% of the target, Quality improvement of the supply chain will serve as a
marking a 1.25% increase compared to the previous year’s key pillar in ensuring that Avian Brands’ operations run
net profit of IDR 1,643.10 billion. smoothly and that our products reach customers on time.
We strive to optimize every single node within Avian Brands’
This achievement was further complemented by the supply chain, foster strong relationships with suppliers,
numerous awards we have received throughout the year, and ensure that all processes are carried out efficiently
a testament to the positive recognition from various and transparently. But more than that, we believe that
stakeholders for our constant dedication and innovation. Avian Brands’ success is not just about the numbers, but
Among the awards we have proudly received, were the also about how responsibly we conduct our business.
2024 ESG Award as the Best Issuer in the Capital Market This belief drives us to integrate ESG principles as the
Sector from Yayasan Keanekaragaman Hayati Indonesia foundation of Avian Brands’ operations. With a firm
(“KEHATI”), the 2024 ESG Award in the Chemicals Sector for commitment to environmental sustainability, social
the Environment Category from Katadata, the Recognition responsibility, and transparent governance, we aim to
for Initiative in Organizing Blood Donation in 2023 from ensure that every step taken by Avian Brands has a positive
the Indonesian Red Cross of Sidoarjo Regency, the 2023 impact on communities and the environment.
Annual Report Award from the KNKG, inclusion in Forbes’
“200 Best Under A Billion 2024” list, PROPER National Green
Rating from the Ministry of Environment and Forestry of
the Republic of Indonesia, Top 50 Big Capitalization Public
Listed Company from the Indonesian Institute for Corporate
Directorship, as well as Green Industry Leader in the 2024
Green Future Summit from Sun Energy.
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We are optimistic that these initiatives will serve as a solid foundation for success in 2025 and beyond. Together, with
unwavering focus and determination, we will continue to innovate, grow, and deliver the best for all stakeholders.
Implementation of Good Corporate Governance
As a continuously growing company committed to No less important is the risk management system, as an
delivering the best for all stakeholders, GCG implementation integral part of our efforts to ensure business viability.
serves as a fundamental pillar guiding Avian Brands. We understand that risk is an inevitable part of every
We understand that in pursuit of sustainability and long- business aspect, whether it is general risk, business and
term growth, every step we take must adhere to the industry specific risk, or financial risk. Therefore, we have
pillars of ethical conduct, accountability, transparency, established a holistic risk management system that enables
and sustainability. We firmly believe that a comprehensive us to identify, assess, and manage risks in a proactive manner.
implementation of GCG not only enhances Avian Brands’ Through a structured, data-driven approach, we can ensure
performance but also ensures that every decision aligns that existing risks are effectively managed and do not hinder
with stakeholder expectations and applicable regulations. Avian Brands in achieving its objectives.
In this implementation, we continuously strengthen our The implementation of good governance, effective
internal control system as the backbone for maintaining internal control systems, and sound risk management are
operational integrity and efficiency. This system ensures important foundations and pillars we consider essential
that all activities of Avian Brands adhere to established to maintaining the credibility and performance of Avian
policies and procedures while identifying and mitigating Brands. With this solid foundation, we are confident in our
potential irregularities. Through rigorous internal controls, ability to achieve sustainable growth, meet stakeholder
we can minimize the risk of errors or fraud that could be expectations, and adapt to the ever-evolving market and
detrimental to Avian Brands, while ensuring transparent and business environment.
accountable Financial Reports.
Implementation of Social and Environmental Responsibility
In line with our commitment to GCG implementation, our community welfare in our operational areas also remains
commitment to being a responsible company is consistently a key social responsibility initiative for Avian Brands.
manifested through initiatives that integrate social and We implement various CSR programs through Avian Brands
environmental responsibility across all operational aspects. Peduli, aimed at providing direct benefits to communities
We recognize that Avian Brands’ success is not solely through education, environmental improvements, economic
measured by financial performance but also by the positive empowerment, and support for vulnerable groups.
impacts we create for the communities and the environment.
Therefore, social and environmental responsibility has We also remain firmly committed to environmental
become an integral part of our strategies that guide every sustainability. Our sustainability initiatives not only
decision we make. enhance operational efficiency but also focus on reducing
the environmental impact of Avian Brands’ activities.
In terms of social responsibility, we focus on improving We continuously improve the implementation of
employee welfare through competence development environmentally friendly principles in our manufacturing
programs, ongoing training, and the provision of facilities processes, including reducing the use of hazardous chemicals
that support the OHS. We believe that employees are the and replacing them with more environmentally friendly
most valuable asset of Avian Brands, making it our priority alternatives. In addition, we actively implement recycling
to create a safe, healthy, and productive work environment. programs, waste management, and carbon emission
Additionally, we strengthen relationships with local suppliers reduction to support better environmental management.
through strategic collaborations aimed at ensuring supply We have also sustainably conducted tree-planting programs
chain sustainability, enhancing their capacity, and driving to reduce our carbon footprint and provide long-term
economic growth. In line with the foregoing, improving benefits to local communities and ecosystems.
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PT Avia Avian Tbk • 2024 Annual Report
We believe that the fulfillment of sustainable social and environmental responsibility not only creates positive impacts on
the communities and the environment but also strengthens the reputation and sustainability of Avian Brands. Through these
initiatives, we are committed to contributing to the achievement of the Sustainable Development Goals and ensuring that
every step we take supports the creation of a better and more sustainable future.
Changes in the Composition of the Board of Directors
As of 2024, there was no change to the composition of the Board of Directors of Avian Brands. The composition of the current
Board of Directors is described as follows:
Name Appointment
Wijono Tanoko President Director
Ruslan Tanoko Vice President Director
Robert Christian Tanoko Director
Kurnia Hadi Sinanto Director
Angelica Tanisia Jozar Director
The current composition of the Board of Directors has a term of office until the 2026 Annual General Meeting of Shareholders.
Conclusion
As a closing remark, we would like to extend our deepest appreciation to all stakeholders who have accompanied Avian Brands
on this journey thus far. Our gratitude goes to the Board of Commissioners for their strategic guidance, prudent oversight,
and constructive insights in ensuring that Avian Brands remains on the right path to achieving its Vision and Mission.
We also extend our appreciation to all employees whose dedication, hard work, and spirit of innovation drive every achievement
we attain. To our Shareholders, we are grateful for their unwavering support, trust, and commitment, which continue to
motivate us to continuously deliver long-term values.
To our loyal customers, thank you for your trust in Avian Brands’ products and services, which motivates us to consistently
deliver excellence. Our appreciation also goes to our business partners, suppliers, and other key stakeholders who play an
essential role in supporting our supply chain and ensuring the smooth operations of Avian Brands. With the support and active
contributions of all stakeholders, we are confident that Avian Brands will continue to grow, make a positive impact, and create
a better future for all.
On behalf of the Board of Directors of
PT Avia Avian Tbk,
Wijono Tanoko
President Director
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PT Avia Avian Tbk • 2024 Annual Report
Company
Profile
“As the national paint industry leader,
Avian Brands is capable of offering
a wide selection of high-quality
products to meet diverse market needs
with more than 2,500 products (SKU).
These products are available in more
than 58,400 number of retail outlets
supplied across Indonesia. To support
distribution efficiency, Avian Brands has
124 wholly-owned distribution centers,
15 mini-distribution centers, and 38
independent distribution centers.
This extensive distribution infrastructure
ensures that Avian Brands’ products are
widely available and easily accessible,
guaranteeing fast and timely delivery
to all parts of Indonesia.”
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COMPANY PROFILE
Company
Identity
PT Avia Avian Tbk
Headquarter
Jl. Raya Surabaya – Sidoarjo KM. 19
Desa Wadungasih, Kec. Buduran, Sidoarjo 61252
Jawa Timur, Indonesia
Business Sector
Manufacture and trade of paints and printing inks,
varnishes, lacquers, adhesives or glues, mortar or
ready-mixed concrete.
corsec@avianbrands.com
investor.relations@avianbrands.com Date of Establishment
March 1, 1983
Authorized Capital
(62-31) 8968000 www.avianbrands.com IDR2,000,000,000,000.-
Issued and Paid-up Capital
Social Media IDR619,535,556,000.-
Legal Basis of Establishment
PT Avia Avian was established based on Deed of
Establishment of Limited Liability Company No. 06
dated March 1, 1983, as amended by Deed No. 63 dated
Avian Brands May 23, 1983, both drawn up before Indrawati
Setiabudhi, S.H., a Notary in Malang. The deed has
been approved by the Minister of Justice of the
Republic of Indonesia by the Resolution of the Ministry
of Justice of the Republic of Indonesia with Decree
avian.brands @avianbrands No. C2-4948.HT01.01 Th83 dated July 5, 1983 and
has been registered with the Malang District Court
No. 016/PP/PI/VIII/1983 dated August 8, 1983.
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PT Avia Avian Tbk • 2024 Annual Report
Shareholding Branch Office
Avian Brands Building
Jl. Ahmad Yani No. 317
Surabaya 60234
Jawa Timur, Indonesia
(62-31) 99850500/99850600
Address of Manufacturing Facilities
Sidoarjo
Jl. Raya Surabaya – Sidoarjo KM. 19
Desa Wadungasih, Kec. Buduran
Sidoarjo 61252
Jawa Timur, Indonesia
PT Tancorp Surya Sentosa : 36.60%
(62-31) 8968000
PT Wahana Lancar Rejeki : 32.49%
Archipelago Investment Pte Ltd : 6.30% Serang
Robert Christian Tanoko : 2.30%
Jl. Raya Serang KM. 60
Rudi Tanoko : 1.68%
Kawasan Pancatama 5 Kav. 50
Rony Tanoko : 0.80%
Leuwilimus, Leuwi Limus, Cikande
Treasury Stock : 1.88%
Kabupaten Serang 42186
Public (each below 5%) : 17.95%
Banten, Indonesia
(62-254) 402655
Stock Code
AVIA
Listing of Shares on the Stock Exchange
December 8, 2021
on the Indonesia Stock Exchange
Total Employees
(Including Employees of Subsidiaries and Outsourced
Employees)
Male:
7,263 Employees
Female:
2,124 Employees
Latest Deed Amendment
The latest amendment to Avian Brands’ deed is Deed
No. 4 dated April 13, 2023 drawn up before
Dr. Susanti S.H., M.Kn., a Notary in Surabaya City
regarding Amendment to the Articles of Association of
PT Avia Avian Tbk. This change has been notified to
the Ministry of Law and Human Rights of the Republic
of Indonesia based on the Letter of Acceptance of
Notification of Changes to Articles of Association
No. AHU-AH.01.03-0054560 dated April 14, 2023.
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COMPANY PROFILE
Milestones
2000
1978
• The third generation of Mr. Soetikno Tanoko’s family became
Avian Brands’ business was initiated in 1978 by involved in Avian Brands’ business and Mr. Soetikno Tanoko’s
Mr. Soetikno Tanoko in Sidoarjo, East Java, focusing on the eldest grandson, Vice President Director of Avian Brands,
production of wood and metal paint products. Mr. Ruslan Tanoko, who is the son of Mr. Wijono Tanoko,
President Director of Avian Brands, became involved in the
sales and marketing department of Avian Brands; and
1981 • Avian Brands established PT Tirtakencana Tatawarna,
Avian Brands launched its first venture into wall paint products a Subsidiary, as a distribution company that focuses on setting
under the “Avitex” brand. up distribution centers across Indonesia.
1983
2005
Avian Brands was established in 1983 as an integrated
paint manufacturing company. The second generation of Avian Brands expanded its paint product offerings into
Mr. Soetikno Tanoko’s family became involved in Avian Brands’ waterproofing paint under the “No Drop” brand. By the end of
business, and his eldest son, Mr. Wijono Tanoko, serving as 2005, Avian Brands had also successfully expanded its presence
President Director and his youngest son, Mr. Hermanto Tanoko, across 20 locations in Indonesia through its distribution
serving as President Commissioner joined Avian Brands in 1983. company, PT Tirtakencana Tatawarna.
1985 2006
Avian Brands continued to expand its product range in the Avian Brands was awarded the certification of ISO 9001:2000
paint category to automotive refinish paint, including top coats, on Quality Management System.
primers, and spray paints.
1986 2009
Avian Brands strategically focused on vertical integration • Mr. Robert Christian Tanoko, another third-generation
and commenced the manufacturing of resin as raw material family member of Mr. Soetikno Tanoko, became involved
following the purchase of three reactors from Korea. in Avian Brands’ operations. Mr. Robert Christian Tanoko
served as Avian Brands’ Director and is the son of the
1987 President Commissioner, Mr. Hermanto Tanoko;
• Avian Brands successfully attained the certification of
Avian Brands purchased 60,000m2 of land near its manufacturing OHSAS 18001:2007 on Occupational Health and Safety
facility in Sidoarjo to expand the manufacturing facility and Management System; and
build additional warehouses.. • Through its Subsidiary, PT Tirtakencana Tatawarna,
Avian Brands expanded its distribution reach to 48
distribution centers across Indonesia.
1992
Avian Brands invested in a metal can factory located at the
manufacturing facility in Sidoarjo to address the shortage of 2010
metal cans from suppliers. • Avian Brands adopted a point-of-sale tinting model and
deployed tinting machines for retail customers, providing
1996 thousands of color options;
• Avian Brands upgraded its quality management certification
Avian Brands established a second manufacturing facility to ISO 9001:2008 on Quality Management System; and
in Serang, West Java, Indonesia, to strengthen its product • Avian Brands established PT Tirtakencana Batamindo,
penetration and distribution capabilities to the western region a Subsidiary, as a distribution company focused on
of Indonesia. establishing distribution centers in Batam.
1978 - 1996 2000 - 2010
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PT Avia Avian Tbk • 2024 Annual Report
2018
• To commemorate its 40th anniversary, Avian Brands moved
into the newly constructed twenty-story headquarters
in Surabaya. As a testament to its passion for innovation,
the new headquarters is uniquely designed with curves and
2011
twists, where each floor rotates and twists by 60 degrees from
Avian Brands expanded its product offerings into the the ground floor to the top of the tower.
instant cement product category. Avian Brands completed
the construction of an instant cement plant located at the
manufacturing facility in Sidoarjo and commenced the sales of 2019
instant cement products in the market under its “Giant Mortar”
brand. • Avian Brands developed and launched “Avitex One Coat” paint
and was awarded the first patent for Avitex’s one coat paint
technology, which requires only one coat of paint instead of
2012
the usual two coats;
• Avian Brands was awarded the certification of ISO 14001:2005 • Avian Brands successfully increased its distribution network to
on Environmental Management System, as part of its efforts 90 distribution centers across Indonesia through a Subsidiary,
to improve environmental performance and reduce waste; PT Tirtakencana Tatawarna; and
and • Avian Brands entered into a non-exclusive license agreement
• Through a Subsidiary, PT Tirtakencana Tatawarna, with PT Walt Disney Indonesia to use certain Disney logos,
Avian Brands continued to expand its distribution network to characters, and trademarks for its wall paint products such as
55 distribution centers across Indonesia. interior wall paint and special effects wall paint products in
Indonesia.
2014
2020
Avian Brands increased production capacity for wall paints and
waterproofings by 80,000 metric tons. • Avian Brands built Avian Innovation Center dedicated to
research, development, and innovation, with an approximate
area of 5,000m2;
2016 • As a testament to its ongoing commitment to providing quality
health and safety standards that are in line with international
Avian Brands continued to expand its distribution network to standards, Avian Brands implemented the ISO 45001:2018 on
62 distribution centers across Indonesia through a Subsidiary, Occupational Health and Safety Management System Standard;
PT Tirtakencana Tatawarna. and
• Avian Brands continued the expansion of its distribution
2017 network in Indonesia to 95 distribution centers through
a Subsidiary, PT Tirtakencana Tatawarna.
• Avian Brands further increased its production capacity by
50,000 metric tons; and
• GIC (Ventures) Pte Ltd became a shareholder of 10.00% of 2021
Avian Brands’ shares through its wholly-owned Subsidiary, • Avian Brands established PT Bangun Bersama Solusindo
Archipelago Pte Ltd. The proceeds from the cash injection as a joint venture entity, with 50.00% shareholding each by
from GIC (Ventures) Pte Ltd were used to repay all of Avian Brands and PT Cipta Mortar Utama, a wholly-owned
Avian Brands’ outstanding bank loans. subsidiary of the Saint-Gobain Group, which is a leading
player in the manufacturing of mortars for construction.
2018 The establishment of PT Bangun Bersama Solusindo was
aimed at developing Avian Brands’ business in entering the
• Avian Brands acquired land located in Cirebon, West Java, two-component cement-based waterproofing paint market
Indonesia, with a total land area of 110,211m2, from its in Indonesia;
affiliate PT Bira Industri Rejeki Agung, which is reserved as • In October 2021, Avian Brands acquired a 67.00%
the future site of the third manufacturing facility; shareholding in PT Multipro Paint Indonesia, which is
• Avian Brands further expanded its distribution network to engaged in the manufacture of protective paint and marine
78 distribution centers across Indonesia through a Subsidiary, paint;
PT Tirtakencana Tatawarna; and
2011 - 2018 2018 - 2021
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COMPANY PROFILE
Milestones (continued)
2023
2021
• Avian Brands launched a range of new products, namely
• Avian Brands listed its shares on the Indonesia Stock Exchange Admiral Thinner Serbaguna and Admiral Anti Fouling,
on December 8, 2021 with the stock code AVIA; and Brilliant Cat Tembok Interior and Brilliant Cat Tembok Eksterior,
• Avian Brands continued its expansion plan by increasing the Boyo Politur Melamine, Avian Cling Zinc Chromate, Admiral
number of wholly-owned distribution centers to 101 through Wood Filler Epoxy, Admiral Cat Kapal, Aries Bling, Avitex Wizz,
a Subsidiary, PT Tirtakencana Tatawarna. No Drop Plus 3 in 1, No Drop Basic, Avian Glue Epoxy Hemat,
and Cat Besi Anti Karat Avian 3 in 1; and
• Avian Brands initiated a corporate action of shares buyback of
its shares that have been issued and listed on the Indonesia
2022 Stock Exchange in a maximum amount of 1,425,000,000 shares
or approximately 2.3% of the total issued and paid-up capital.
• Avian Brands continued to expand its marketing reach by
increasing the number of wholly-owned distribution centers
to 109, and establishing 4 wholly-owned mini distribution 2024
centers through a Subsidiary, PT Tirtakencana Tatawarna;
• Avian Brands appointed a new member of the • Avian Brands increased its total wholly-owned
Board of Directors, Mrs. Angelica Tanisia Jozar, in order to distribution centers to 124, and total wholly-owned
increase the proportion of women in the top management mini-distribution centers to 15 through PT Tirtakencana
and realize its commitment to gender equality;
Tatawarna, Avian Brands’ Subsidiary;
• Avian Brands was successfully awarded the certification
• Avian Brands secured two global patents, namely
of ISO 50001:2018 on Energy Management System for the
manufacturing facilities in Serang and Sidoarjo; and the Magnetite Paint (Fe₃O₄) applied to HomeDeco
• Avian Brands launched new products, i.e., Woodcare Series, Magnetic product and the Additive for Accelerating the
Avitex Anti Viruz, No Drop Anti Panas, Avitex Gold, Hardening and Reinforcement of Enhanced Concrete,
VIP Pengupas Cat Tembok (Water-Based), and several other applied to No Drop Plaston product;
products to meet market needs. • Avian Brands received the ESG Award 2024 as the
Best Issuer in the Capital Market Sector from Yayasan
Keanekaragaman Hayati Indonesia (“KEHATI”), ESG
Award 2024 in the Chemicals Sector for Environment
2023
Category from Katadata, Recognition for its Initiative in
• Avian Brands increased its total wholly-owned distribution Organizing Blood Donation in 2023 from the Indonesian
centers to 118, and total wholly-owned mini-distribution Red Cross of Sidoarjo Regency, Annual Report Award
centers to 14 through PT Tirtakencana Tatawarna, Avian Brands’ 2023 from the National Committee on Governance Policy
Subsidiary;
(Komite Nasional Kebijakan Governansi or “KNKG”),
• Avian Brands commenced construction of a new manufacturing
inclusion in Forbes’ “200 Best Under A Billion 2024” list,
facility in Cirebon with a land area of 11 hectares and an annual
production capacity of up to 225,000 tons, as a strategy to PROPER National Green Rating from the Ministry of
increase Avian Brands’ production capacity to respond to future Environment and Forestry of the Republic of Indonesia,
market opportunities and potential; Top 50 Big Capitalization Public Listed Company from the
• Avian Brands successfully earned ISO/IEC 27001:2013 Indonesian Institute for Corporate Directorship (“IICD”),
certification on Information Security Management System; as well as Green Industry Leader in the Green Future
• Avian Brands successfully received the Overall Winner award
Summit 2024 Ceremony from Sun Energy; and
in the 2023 Katadata Corporate Sustainability Awards (“KCSA”)
for the Chemicals Sector category from Katadata, the Green • Avian Brands launched new products, namely Avian Cling
Industry Pioneer in Accelerating Sustainable Development in Water Based, Boyo Politur Spray, No Drop Tile Grout,
East Java award from the Governor of East Java, Going Green No Drop Dempul Instan, No Drop Serat Fiber, GM 385
is Good for Your Business award from Xurya Daya Indonesia, Perekat Bata Ringan Ekonomis, Pro-X 208, No Drop Beton
Prevention and Mitigation of Covid-19 in the Workplace award dan Batu Alam, Avian Non-Sag Epoxy Hemat, Supersilk
from the Minister of Manpower of the Republic of Indonesia, Semi Kilap, No Drop Kolam Ikan, GM 265 Acian Abu-Abu
Zero Accident Award from the Governor of East Jawa, and
Ekonomis, GM 275 Acian Putih Ekonomis, Supersilk Basic,
Indonesia Architectural Paints and Coatings Market Leadership
Award from Frost & Sullivan; as well as Avian Cat Lapangan.
2021 - 2023 2023-2024
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PT Avia Avian Tbk • 2024 Annual Report
Brief History
Avian Brands has a long history in the national paint
industry, which began in 1978 when it was founded by
Mr. Soetikno Tanoko, father of the current President Director,
Mr. Wijono Tanoko, and the current President Commissioner,
Mr. Hermanto Tanoko. Mr. Soetikno Tanoko is also the grandfather
of the Vice President Director, Mr. Ruslan Tanoko, and the Director,
Mr. Robert Christian Tanoko. At the start of its establishment,
Avian Brands focused on conducting business activities in the
integrated paint manufacturing sector, and had the competitive
advantage of combining the manufacturing of raw materials
and paint packaging in one manufacturing facility located
in Sidoarjo, East Java. Such an advantage was supported by
Avian Brands’ strategic move to invest in specialized machinery,
showcasing Avian Brands’ long-term vision to become a major
player in the national paint industry.
Over time, not only did Avian Brands maintain its position amidst competition in the industry, but it also strived to grow
continuously. In 1996, Avian Brands expanded by building a second facility in Serang, West Java. More than just a response to
increasing market demand, the construction of this facility was also a manifestation of Avian Brands’ commitment to increasing
production capacity and reinforcing its competitive edge in the industry. This expansion was also part of Avian Brands’ strategy
to ensure that it can continue to meet customer needs with high-quality products.
Recognizing the importance of efficient distribution to reach a wider market, Avian Brands established
PT Tirtakencana Tatawarna in 2000, as a subsidiary focusing on distribution and marketing networks. This move allowed
Avian Brands to further optimize its distribution network and expand its product range across all regions in Indonesia.
By establishing distribution centers in various areas, PT Tirtakencana Tatawarna is instrumental in ensuring easy access to
Avian Brands’ products for customers nationwide. Additionally, in 2010, Avian Brands established PT Tirtakencana Batamindo,
located in Batam, to further strengthen the distribution chain in the region.
In 2018, Avian Brands expanded its business portfolio by establishing PT Solusi Rumah Praktis, which is almost entirely
owned by Avian Brands, with 99.99% shareholding. This was subsequently followed by investment in the joint venture
PT Bangun Bersama Solusindo with a 50.00% shareholding. In 2021, Avian Brands also acquired 67.00% shares of
PT Multipro Paint Indonesia. The combination of the above measures highlights Avian Brands’ dedication to cementing its
position in the industry and optimizing synergies with its main business lines.
Another significant achievement was when Avian Brands went public in 2021 through an Initial Public Offering. This marks
a historical milestone that signified Avian Brands’ transformation into a more transparent and accountable public company.
This corporate action further encouraged Avian Brands to keep improving its excellence, including through continuous
research and development. Based on this commitment, Avian Brands has successfully introduced innovative paint products
that are both high-quality and environmentally friendly. In fact, in 2024, Avian Brands managed to secure two global
patents, namely the Magnetite Paint (Fe₃O₄) applied to HomeDeco Magnetic product and the Additive for Accelerating the
Hardening and Reinforcement of Enhanced Concrete, applied to No Drop Plaston product, further cementing its position
as an industry-leading innovator.
Avian Brands’ commitment to Environmental, Social, and Governance (“ESG”) principles is also demonstrated through various
initiatives and certifications that have been achieved. Some of Avian Brands’ paint products have obtained Singapore Green
Labelling Scheme certification, which recognizes products with high standards related to Volatile Organic Compound (“VOC”),
heavy metal-free products, and the use of bio-based or alternative raw materials. As of the end of 2024, 34 of Avian Brands’
products have successfully earned the Singapore Green Label. Moreover, Avian Brands has also earned numerous awards,
such as the ESG Award 2024 as the Best Issuer in the Capital Market Sector from Yayasan Keanekaragaman Hayati Indonesia
(“KEHATI”), ESG Award 2024 in the Chemicals Sector for the Environment Category from Katadata, Recognition for its Initiative
in Organizing Blood Donation in 2023 from the Indonesian Red Cross of Sidoarjo Regency, Annual Report Award 2023 from the
KNKG, inclusion in Forbes’“200 Best Under A Billion 2024” list, PROPER National Green Rating from the Ministry of Environment
and Forestry of the Republic of Indonesia, Top 50 Big Capitalization Public Listed Company from the Indonesian Institute for
Corporate Directorship (“IICD”), as well as Green Industry Leader in the Green Future Summit 2024 Ceremony from Sun Energy,
further reinforcing Avian Brands’ reputation as a company with deep concern for the environment and sustainability.
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COMPANY PROFILE
Company Vision, Mission,
and Values
VISION
To become an integrated,
environmentally friendly,
leading, and trusted
paint company in
Indonesia.”
MISSION
To provide added value
to stakeholders through
the development of
various quality paints.”
The Board of Commissioners and Board of Directors periodically review
Avian Brands’ Vision and Mission. This review is conducted to ensure
that Avian Brands’ strategic direction and objectives remain relevant and
aligned with Avian Brands’ development as well as market dynamics.
Based on the review results for the year 2024, Avian Brands’ Vision and
Mission remain relevant to the purpose and objectives of Avian Brands’
establishment, and in line with developments in the national paint industry. Such evaluation shows that Avian Brands’ Vision to become
an integrated, environmentally friendly, leading, and trusted paint company in Indonesia remains actual and can be realized through
its Mission, i.e., to provide added value to stakeholders through the development of various quality paints. In addition, this review also
confirms that the strategy and business direction adopted by Avian Brands so far, has successfully placed it in a strong position to face
increasingly intense competition in the paint industry.
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PT Avia Avian Tbk • 2024 Annual Report
COMPANY
VALUES
Customer Focus
Able to make (internal and external) customers and their needs as
the main focus in a positive and productive working relationship.
Integrity
Be honest in words, and have the commitment and consistency
in acting according to rules, norms, and morality.
Teamwork
Ability to be part of a group, work with the group members, and
contribute to achieving the group’s goals.
Agility
Ability to be agile, flexible, and assertive in anticipating, initiating,
and taking advantage of any opportunity as well as to avoid
negative consequences from the changes.
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COMPANY PROFILE
Meaning of Avian Logo
1
2
3
3 Strands of Feathers Duck Figure Logotype
3 Strands of : The lines depicting “3 Strands of Feathers” symbolize the 3 generations of Avian Brands’ management,
Feathers namely the past, present, and future.
The 3 Strands of Feathers unite to form the body of a duck with a figure symbolizing Avian Brands that is
managed professionally, transparently, and guided by Good Corporate Governance so that Avian Brands may
continue to grow positively and remain strong, while providing added value to stakeholders, Shareholders,
and investors.
Duck Figure : The head of the duck represents gentleness, kindness, honesty, and humanity.
The duck figure facing right, symbolizes Avian Brands’ constant forward motion, strength, perseverance and
ability to seize opportunities from any upcoming challenges to further its mission of sustainable corporate
development.
Logotype : The logotype is divided into 2 hierarchical parts, namely:
• The word “Avian” uses a bold Serif font that symbolizes Avian Brands’ identity; and
• The word “Brands” describes various types of decorative paint products, wood and metal paints,
waterproofing, adhesives, instant cement, and other supporting building materials. It also uses a more
straightforward Sans Serif font.
Philosophy of Avian Logo Color
The philosophy of the logo is further reinforced and represented by the following color selection:
Emerald Green : Represents the PAST, protects its successors with vast discretion, experience, and maturity.
Turquoise : Represents the PRESENT, bridges generational relationships, provides balance, stability, and
knowledge accumulation.
Lime Green : Represents the FUTURE, and brings fresh ideas and unrelenting passion, regeneration, and growth.
• The choice of the gradation of green also represents the harmonious relationship between the three generations.
• GREEN itself symbolizes the “sense of art”.
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PT Avia Avian Tbk • 2024 Annual Report
Business Activities
Avian Brands is engaged in the manufacturing industry and trading, with paints constituting a majority of its products.
This is stipulated under Article 3 of Avian Brands’ Articles of Association, pursuant to Deed No. 3 dated August 4, 2021,
made before Liestiani Wang, S.H., M.Kn., Notary in the South Jakarta Administrative City, regarding Amendments to the
Articles of Association of PT Avia Avian Tbk. Based on the Articles of Association, the purpose and objective of Avian Brands is
to engage in manufacturing industries and wholesale trading. To achieve this, Avian Brands may conduct the following
business activities:
Paint and Printing Ink Industry
This group encompasses the manufacture of various paints, such as base paint, metal paint,
wood paint, wall paint, boat paint, epoxy and enamel paint, and lacquer, including the industries of
processed pigments and dyes, dyes and opacifiers, enamel polish and coatings and other preparatives,
printing inks, and art paints.
Varnish Industry (Including Mastics)
This group encompasses the manufacture of various types of varnishes, such as organic composite
solvents and thinners, as well as paint or varnish removers, including mastics.
Lacquer Industry
This group encompasses the manufacture of lacquer, including the industries of putty and plaster or
putty compounds and non-refractory putty or similar surface-covering materials.
Adhesive/Glue Industry
This group encompasses the manufacture of adhesives/glues for industrial or household purposes,
derived from plants, animals, or plastics, such as starch, bone adhesives, cellulose esters and ethers,
phenol formaldehyde, urea formaldehyde, melamine formaldehyde, and epoxy adhesives.
Ready-mixed and Dry-mixed Concrete and Mortar Industry
This group encompasses the manufacture of ready-mixed and dry-mixed
concrete and mortar.
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COMPANY PROFILE
In addition to the main business activities in the manufacturing industry and wholesale trade, Avian Brands may also conduct
supporting business activities as described below:
Industry of Artificial Resin (Synthetic Resin) and Plastic Raw Materials
This group encompasses the manufacture of artificial resins and plastic raw materials
(pure plastic ore), such as alkyds, polyesters, aminos, polyamides, epoxides, silicones,
polyurethanes, polyethylene (PE), polypropylene (PP), polystyrene, polyvinyl chloride,
cellulose acetate, and cellulose nitrate. Further processing of artificial resins and purchased
plastic materials to produce goods from these raw materials, such as plastic articles and
films and film sheets that are not yet sensitive to light are included in group 26800.
Industry of Organic-based Chemical for Raw Materials of Dyes and Pigments, Dyes, and Pigments
This group encompasses basic chemical industry businesses that produce organic
chemicals, dyes, and pigments along with their cyclical intermediates, such as phenol
intermediates and their derivatives, textile dyes, and dyes for food and medicine.
Industry of Buckets, Cans, Drums, and Other Metal Containers
This group encompasses the manufacture of metal or canned containers, such as food or
beverage cans, paint or other chemical cans, barrels, drums, buckets, boxes, jerrycans, and
others. Including the metallic closure industry.
Wholesale Trade of Paints
This group encompasses large trading businesses of various kinds of paints for construction
materials, such as base paints, metal paints, wood paints, and wall paints. Including the
retail trade of enamel, putty, and plaster.
Business Activities Conducted in 2024
Business Activities based on Articles of Association Has/Has Not Been Conducted
Main Business Activities
Paint and Printing Ink Industry
Varnish Industry (Including Mastics)
Lacquer Industry
Adhesive/Glue Industry
Ready-mixed and Dry-mixed Concrete and Mortar Industry
Supporting Business Activities
Industry of Artificial Resin (Synthetic Resin) and Plastic Raw Materials
Industry of Organic Basic Chemical Industry for Raw Materials of Dyes and Pigments, Dyes,
and Pigments
Industry of Buckets, Cans, Drums, and Other Metal Containers
Wholesale Trade of Paints
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PT Avia Avian Tbk • 2024 Annual Report
Products and Services
Avian Brands constantly strives to establish a reputation for dedication to providing high-quality products and services,
as well as fulfilling various needs of customers. Avian Brands’ products and services are generally classified into two main
categories, offering comprehensive solutions for customers in various sectors. The first is the architectural solution category,
which includes various products for property construction and renovation. The second is the trading goods category, in which
Avian Brands provides supporting products for architectural solutions. More detailed information about Avian Brands’ products
and services, is described as follows:
Architectural Solutions
The architectural solutions products are the main products produced by Avian Brands, comprising wall paint, wood
and metal paint, waterproofing paint, wood care, as well as other architectural solutions, including roof paint,
instant cement, and automotive refinish paint. As of December 31, 2024, Avian Brands has a diversified portfolio
of approximately more than 2,500 SKUs for architecture solution products that are marketed and distributed,
reaching 105 brands. Some of Avian Brands’ major household brands include Avian, Avitex, and No Drop.
Trading Goods
Avian Brands’ trading goods are mainly the supporting products of architectural solutions comprising sales of pipes,
furniture, and supporting products required in the painting processes, such as paint rollers, paint brushes, sealing
tape, and sandpaper. Such trading goods are not manufactured by Avian Brands but are procured from its affiliates.
Trading of these goods is performed by a Subsidiary, PT Tirtakencana Tatawarna.
Architectural Solutions
Wall Wood and Metal Waterproofing
Sunguard Sunguard Supersilk Supersilk Supersilk Supersilk Basic Platinum Avian 3 in 1 Avian Cat Kayu No Drop No Drop Beton No Drop No Drop Basic No Drop
All-In-One Semi Kilap Anti Noda Anti Karat dan Besi Anti Panas dan Batu Alam Bitumen Black
Avitex Gold Avitex Anti Avitex Avitex Cat Avitex Wizz Aquamatt Avian Cling Avian Cling Glovin Cat Kayu No Drop No Drop No Drop No Drop No Drop
Viruz Eksterior Tembok Synthetic Zinc Chromate dan Tembok Kolam Ikan Plus 3 in 1 Serat Fiber Plaston Mortar
Aries Gold Aries Bling Aries Cat Yoko Cat Kayu Avian Cling Admiral Cat No Drop Tape No Drop No Drop Pro-X 207
Tembok dan Tembok Water Based Kapal Tile Grout Dempul Instan
Wood Care and Glue Others
Wood Eco Series Avian Lem Avian Lem Avian Non-Sag Absolute Roof Avitex Cat Yoko Cat Giant Mortar GM 265 Acian Giant Mortar
Epoxy Super Epoxy Hemat Epoxy Super Coating Genteng & Seng Genteng & Seng 220 Abu-Abu Ekonomis 270
Roof Paint
GM 275 Acian Giant Mortar GM 385 Perekat Bata
Boyo Series Avian Non-Sag Epoxy Hemat Lem Putih VIP Putih Ekonomis 380 Ringan Ekonomis
PVAc
Suzuka Cat Suzuka Spray Admiral Thinner VIP Pengupas VIP Paint Giant Mortar Giant Mortar Pro-X 208
Duco Otomotif Serbaguna Cat Tembok Remover 420 L500
Boyo Series Boyo Politur Admiral Wood Filler Epoxy
Spray
Autorefinish and Thinner Wall Paint Instant Cement
Wood Care Glue Spray Paint Peeler
Trading Goods
Pipes Furniture Furniture
Power Max Power Quad Homecare
Activ
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COMPANY PROFILE
Category Product Name
Wall Paint • Sunguard All-In-One; • Avitex Gold; • Aries Bling;
• Sunguard; • Avitex Anti Viruz; • Aries Gold;
• Supersilk Semi Kilap; • Avitex Eksterior; • Aries Cat Tembok;
• Supersilk Anti Noda; • Avitex Cat Tembok; • Aquamatt;
• Supersilk; • Avitex Wizz; • Everglo Kids Care;
• Supersilk Basic; • Avitex 4kids; • No Odor Medicare;
• Brilliant Cat Tembok Interior; • Avitex One Coat; • No Odor;
• Brilliant Cat Tembok Eksterior; • Avitex Cat Tembok Dapur & • Jasmine; and
Kamar Mandi; • Fres.
Special Effect Paint • HomeDeco Glow In The Dark; • HomeDeco Glitz; and • HomeDeco Metallic.
• HomeDeco Magnetic;
Waterproofing • No Drop Anti Panas; • No Drop Membran; • No Drop Plus 3in1;
• No Drop Beton dan Batu Alam; • No Drop Serat Fiber; • No Drop 100; and
• No Drop; • No Drop Mortar Anti Bocor; • PRO-X 207.
• No Drop Basic; • No Drop Tape;
• No Drop Bitumen; • No Drop Tile Grout;
• No Drop Kolam Ikan; • No Drop Dempul Instan;
Wood and Metal Paint • Admiral Cat Kapal; • Avian Cat Kayu dan Besi; • Avian Cat Alumunium;
• Avian Cling Synthetic; • Glovin Cat Kayu dan Besi; • Cat Besi Anti Karat Avian 3 in 1;
• Platinum; • Yoko Cat Kayu dan Besi; and
• Avian Cling Water Based.
Wood Care • Wood-Eco Woodstain Water- • Boyo Wood Stain Solvent-Based; • Boyo Clear Coat NC
Based; • Boyo Politur Vernis Water-Based; Solvent-Based;
• Wood-Eco Woodstain Solvent- • Boyo Politur Vernis • Boyo Politur Melamin; and
Based; Solvent-Based; • Boyo Politur Spray.
• Wood-Eco Politur Eksterior P03; • Boyo Wood Filler Solvent-Based;
• Wood-Eco Politur Interior P01; • Boyo Sanding Sealer NC
Solvent-Based;
Primer • Avian Cling Zinc Chromate; • Lenkote Alkali Resisting Primer; • Belmas Zinc Chromate; and
• Avian Zinc Chromate; • Lenkote Wall Sealer; • Suzuka Epoxy Filler.
• Avitex Alkali Resisting Primer; • Yoko Cat Dasar Kayu dan Besi;
Putty • Lenkote Plamir Tembok • Avitex Plamir Tembok; and
(Wall Putty); • Aries Gold Wall Putty.
• No Odor Wall Putty;
Roof Paint • Absolute Roof Coating; • Avitex Cat Genteng & Seng; and • Yoko Cat Genteng & Seng.
Instant Cement • GM 220 Plamir Instan ; • GM 275 Acian Putih Ekonomis; • GM 480 Perekat Keramik
• GM 260 Acian Abu-Abu; • GM 380 Perekat Bata Ringan; Dinding & Lantai;
• GM 265 Acian Abu-Abu • GM 385 Perekat Bata Ringan • GM L500 Bonding Adhesive;
Ekonomis; Ekonomis; and
• GM 270 Acian Putih; • GM 420 Perekat Keramik • GM 510 Tile Grout.
Ekonomis;
Glue • Avian Lem Epoxy Super; • Avian Non-Sag Epoxy Hemat; • Viplas; and
• Avian Lem Epoxy Hemat; • Lem Putih VIP PVAc; • Admiral Wood Filler Epoxy.
• Avian Non-Sag Epoxy Super; • Lem Putih MAX PVAc;
Stone Coating • No Lumut Solvent-Based; and • No Lumut Water-Based.
Autorefinish and • Suzuka Spray; • Suzuka 2:1 PU Clear Coat; and • Suzuka 4:1 PU Clear Coat.
Spray Paint • Suzuka Cat Duco Otomotif;
Floor Coating • Avian Roadline Paint; • Avian Cat Paving; and • Avian Cat Lapangan.
Thinner • Admiral Thinner Serbaguna; • Avia Thinner Lacquer Super; • Thinner 1633;
• Avian Thinner Enamel; • Aries Thinner Lacquer A; • Thinner 1634;
• Avian Thinner B Asli; • Aries Thinner Lacquer A Special; • Thinner 1601; and
• Avia Thinner Lacquer A; • Thinner 16213; • Thinner 1602.
• Avia Thinner Lacquer A Special; • Thinner 1660;
Cement Additive • No Drop Plaston.
Others • VIP Pengupas Cat Tembok; • PRO-X 111; • Pro-X-110; and
• VIP Paint Remover; • Pro-X-208; • Pro-X-222.
• Avitex Biocidal Wash;
Supporting Products • Basic Paint Roller; • Synthetic Brush; • Masking Tape;
• Green Brush; • Budget Paint Roller; • Seal Tape;
• Yellow Brush; • All Paints Paint Roller; • Drywall Tape;
• Plastic Scrapper; • Budget Roller Cover; • Fiberglass Tape;
• Mini Refill; • Regular Roller Cover; • Roof Drain;
• Mini Roller; • All Paints Roller Cover; • Kran Air Taman;
• Paint Tray; • Abrasive Paper; • Seal Tape Ekonomis;
• White Brush; • Abrasive Cloth Roll; • Basic Paint Tray Set; and
• Paint Tray Set.
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PT Avia Avian Tbk • 2024 Annual Report
Product Development in 2024
Product development has become Avian Brands’ main focus in order to deliver the latest innovations and improve the product
portfolio. With a commitment to in-depth research and development, Avian Brands constantly strives to proactively respond to
evolving market trends and customer needs. Through a collaboration between technology optimization and excellent human
resources in research and development, Avian Brands managed to deliver impressively reliable products that provide added
value to end-users. Several products developed and marketed throughout the year of 2024 are described as follows:
Avian Cling Water Based Boyo Politur Spray No Drop Tile Grout No Drop Dempul Instan
• Anti-rust Without Primer • Maximum Penetration into • Acid Fluid Resistant • Flexible
• Non-yellowing Wood Fiber • Waterproof • Seals Cracks
• Long-lasting gloss • For Exterior and Interior • Not Easily Cracked • Water Repellent
• Quick Drying
No Drop Serat Fiber GM 385 Perekat Bata Ringan Pro-X 208 No Drop Beton and
Ekonomis Batu Alam
• Waterproof • Economical • Easy Mixing • Water Repellent
• Elastic • Strong Adhesion • Easy Application • Nano Particle
• Seals Cracks • Quicker Application • Long lasting • Lotus Leaf Effect
Avian Non-Sag Epoxy Hemat Supersilk Semi Kilap No Drop Kolam Ikan
• Strong Adhesion • Luxurious Gloss • Leakproof
• Not Easily Dripping • Anti-bacterial • Non-toxic
• No Pungent Odor • Easy to Clean with Water • Aquatic Ecosystem
GM 265 Acian Abu-Abu GM 275 Acian Putih Supersilk Basic Avian Cat Lapangan
Ekonomis Ekonomis
• Super Cover Technology • Anti-slip
• Strong Adhesion • Strong Adhesion • Good Touch Up • Friction Resistant
• Perfectly Seal Hair Cracks • Perfectly Seal Hair Cracks • Ultra Matte look • Better Bouncy Rate
• Without Plaster • Without Plaster
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COMPANY PROFILE
Manufacturing Facilities
Avian Brands has two integrated manufacturing facilities, which are among the largest manufacturing facilities in the national
paint industry. Avian Brands’ manufacturing facilities have adopted Enterprise Resource Planning (“ERP”) and Warehouse
Management System (“WMS”) to optimize operational efficiency. Avian Brands also utilizes other cutting-edge technologies,
such as Automatic Weighing System (“AWS”), Distributed Control System (“DCS”), Computerized Monitoring Board (“CMB”),
Yard Management System (“YMS”), and Computerized Maintenance Management System (“CMMS”) to ensure proper control
and monitoring in every stage of production, while simultaneously boosting productivity, effectiveness, data accuracy, as well
as supporting environmentally friendly programs by minimizing paper usage.
In addition, Avian Brands’ commitment to sustainability is also reflected in the use of environmentally friendly energy
sources with solar panels and transparent factory roofs that reduce dependence on conventional electricity. Avian Brands’
manufacturing facilities have also obtained certifications of ISO 9001 on Quality Management System, ISO 14001 on
Environmental Management System, ISO 45001 on Occupational Health and Safety Management System, ISO 50001 on Energy
Management System, and ISO/IEC 27001:2013 on Information Security Management System. This demonstrates Avian Brands’
commitment to international standards in all operations.
In terms of HR, in addition to having a competent and excellent manufacturing team, Avian Brands has also established an
Emergency Response Preparedness team trained and certified by the Ministry of Manpower of the Republic of Indonesia.
This allows Avian Brands’ manufacturing facilities to be more prepared to face emergencies with optimal speed and safety.
With all these measures in place, Avian Brands strives to constantly improve its competitive edge in the industry, both in terms
of product innovation and quality, as well as maintaining a safe and sustainable work environment. More detailed information
about Avian Brands’ manufacturing facilities, is described as follows:
Production
Land Area Production Capacity
No. Owner Location Year Main Products Ownership
(m2) Shift (in metric
tons/year)
No Drop, Avitex,
Avian Cat Kayu
dan Besi, Supersilk,
Right to Build Operates
Sunguard, Aries
Avian Certificate 1 - 2 shifts
1. Sidoarjo 105,121 1978 Gold, Boyo, 213,840
Brands (under the name per day,
Jasmine, Avian
of Avian Brands). 5 days/week.
Thinner, Avian
Epoxy, Suzuka, and
Giant Mortar.
No Drop, Avitex, Right to Build Operates
Avian Avian Cat Kayu dan Certificate 1 - 2 shifts
2. Serang 36,880 1996 72,576
Brands Besi, Aries Gold, and (under the name per day,
Giant Mortar. of Avian Brands). 5 days/week.
Total 286,416
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PT Avia Avian Tbk • 2024 Annual Report
Operational Areas
Wholly-owned Distribution Center 124
Wholly-owned Mini Distribution Center 15
Independent Distribution Center 38
Product Distribution Areas
Wholly-owned Wholly-owned Mini Independent Number of Retail
Distribution Center Distribution Center Distribution Center Outlets Supplied
Sumatra Sumatra Sumatra Sumatra
26 5 8 11,326
Java Java Java Java
54 0 17 32,026
Kalimantan Kalimantan Kalimantan Kalimantan
15 2 4 5,548
Sulawesi Sulawesi Sulawesi Sulawesi
14 2 5 5,303
Other Areas in Other Areas in Other Areas in Other Areas in
Indonesia Indonesia Indonesia Indonesia
15 6 4 4,248
Total Total Total Total
124 15 38 58,451
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COMPANY PROFILE
Organizational Structure
GENERAL MEETING OF SHAREHOLDERS
The Board of Commissioners
President Commissioner : Hermanto Tanoko
Independent Commissioner : Mohammad Noor Rachman Soejoeti
The Good Corporate The Nomination and
The Audit Committee
Governance Committee Remuneration Committee
Chairman : Mohammad Noor
Chairman : Robert Christian Chairman : Mohammad Noor
Rachman Soejoeti
Tanoko Rachman Soejoeti
Member : Sammy Tony Saul
Member : Kurnia Hadi Sinanto Member : Hermanto Tanoko
Lalamentik
Member : Iwan Sigit Member : Iwan Sigit
Member : Wardiman
President Director
Wijono Tanoko
Director of Research, Director of
Director of Finance
Development, and Operations and Vice President Director
and Investor Relations
Innovation Development
Angelica Tanisia Jozar Robert Christian Tanoko Ruslan Tanoko Kurnia Hadi Sinanto
The Related Party Operational Sales Investor Relations
Transaction Committee
Andreas Timothy
Iwan Sigit Dede Maryadi
Chairman : Kurnia Hadi Hadikrisno
Sinanto
Member : Wardiman
• Procurement
Member : Bobby Septian Marketing
• Strategic Management • Finance
Yahya
System • Accounting and Tax
• Sustainability Novi Christiana
The Corporate Information Technology
Secretary
Hendrik Antonius
Hera Septi Astuti
The Audit Internal Unit
Bobby Septian Yahya
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PT Avia Avian Tbk • 2024 Annual Report
Membership in Associations
Avian Brands is a member of several industry associations and business groups. Avian Brands’ membership in these
forums not only expands its business network and collaboration, but also enables Avian Brands to keep abreast of the
latest developments in the industry. Through active participation in these associations, Avian Brands can better understand
industry policies, promote and adopt best practices, and raise the standards of professionalism in every aspect of operations.
In addition, through membership in AEI, Avian Brands can also expand its knowledge and stay updated with the latest
developments in capital market law and regulations, which is crucial for Avian Brands, as a public company, to ensure
compliance with applicable regulations. As of the end of 2024, Avian Brands is a member of the following associations:
Indonesian Paint Producers Association
Scale : National
Status of Avian Brands : Member
Indonesian Public Listed Companies Association
Scale : National
Status of Avian Brands : Member
Indonesian Synthetic Resin Association
Scale : National
Status of Avian Brands : Member
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COMPANY PROFILE Profile of the Board of Commissioners BOARD OF COMMISSIONERS: Hermanto Tanoko (President Commissioner), Mohammad Noor Rachman Soejoeti (Independent Commissioner). * Notes: From left to right. 66
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PT Avia Avian Tbk • 2024 Annual Report
HERMANTO TANOKO
President Commissioner
Indonesian, 62 years old.
Term of Office and Basis of Appointment
2021 – 2026:
The Deed of Restatement of Shareholders’ Resolutions in Lieu of Extraordinary General Meeting of Shareholders of
Avian Brands No. 19 dated June 22, 2021, drawn up before Anwar, S.H., M.Kn., a Notary in Gresik Regency.
Educational Background and Certifications
Master of Management from IBMT School of Management in 2001.
Work Experiences
• Commissioner of PT Sariguna Primatirta (2001 – 2009); and
• Vice President Director of PT Solusi Rumah Praktis (2018 – 2024).
Dual Appointments
• Commissioner of PT Tirtakencana Tatawarna (2000 – present);
• President Commissioner of PT Jaya Sukses Makmur Sentosa Tbk (2003 – present);
• President Commissioner of PT Sariguna Primatirta Tbk (2009 – present);
• President Director of PT Tancorp Global Sentosa (2010 – present);
• Commissioner of PT Tirtakencana Batamindo (2010 – present);
• President Commissioner of PT Avia Avian Industri Pipa (2014 – present);
• President Director of PT Tancorp Surya Sentosa (2015 – present);
• President Commissioner of PT Caturkarda Depo Bangunan Tbk (2020 – present);
• President Commissioner of PT Multipro Paint Indonesia (2021 – present);
• Member of the Nomination and Remuneration Committee of Avian Brands (2021 – present);
• President Commissioner of PT Penta Valent Tbk (2022 – present); and
• President Commissioner of PT Solusi Rumah Praktis (2024 – present).
Education/Training in 2024
-
Affiliation
Mr. Hermanto Tanoko is Avian Brands’ ultimate beneficial owner, who shares a familial and financial
relationship with Mr. Wijono Tanoko as President Director, Mr. Ruslan Tanoko as Vice President Director, and
Mr. Robert Christian Tanoko as Director. He is also affiliated with the Main and Controlling Shareholder of
Avian Brands, namely PT Tancorp Surya Sentosa, where he serves as President Director. However, he has no familial or
financial relationship with other members of the Board of Commissioners and Board of Directors.
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COMPANY PROFILE
MOHAMMAD NOOR
RACHMAN SOEJOETI
Independent Commissioner
Indonesian, 67 years old.
Term of Office and Basis of Appointment
2021 – 2026:
The Deed of Restatement of Shareholders’ Resolutions in Lieu of the Extraordinary General Meeting of Shareholders
of Avian Brands No. 19 dated June 22, 2021, drawn up before Anwar, S.H., M.Kn., a Notary in Gresik Regency.
Educational Background and Certifications
• Bachelor of Economics from Gadjah Mada University, Yogyakarta in 1982; and
• Master of Arts in Economics from Colorado State University, Colorado, United States of America in 1991.
Work Experiences
• Head of Inspection and Investigation Bureau, Capital Market Supervisory Agency, Ministry of Finance of the
Republic of Indonesia (1999 - 2000);
• Member of the Supervisory Board of the Republic of Indonesia Money Printing Corporation (2000 – 2007);
• Head of Service Sector Company Financial Assessment Bureau, Capital Market Supervisory Agency,
Ministry of Finance of the Republic of Indonesia (2000 - 2011);
• Head of Securities Transactions and Institutions Bureau, Capital Market and Financial Institutions Supervisory
Agency, Ministry of Finance of the Republic of Indonesia (2012 - 2013);
• Deputy Commissioner for Capital Market Supervision II of the Financial Services Authority (2013 – 2017);
• President Commissioner of PT Maybank Asset Management (2017 – 2020);
• President Commissioner of PT Ristia Bintang Mahkota Sejati Tbk (2018 – 2020); and
• Commissioner of PT Bursa Efek Indonesia (2018 – 2024).
Dual Appointments
• Chairman of the Audit Committee of PT Bursa Efek Indonesia (2018 – present);
• Chairman of the Audit Committee of Avian Brands (2021 – present);
• Chairman of the Nomination and Remuneration Committee of Avian Brands (2021 – present); and
• Independent Commissioner of PT Nusantara Sejahtera Raya Tbk (2023 – present).
Education/Training in 2024
• Capital Market Summit and Expo by the Financial Services Authority, PT Bursa Efek Indonesia, PT Kliring Penjaminan
Efek Indonesia, and PT Kustodian Sentral Efek Indonesia;
• Sustainability Reporting Standards by PT Bursa Efek Indonesia; and
• Global Tax Reform by PT Bursa Efek Indonesia.
Affiliation
Mr. Mohammad Noor Rachman Soejoeti has no family or financial relationship with other members of the
Board of Commissioners, members of the Board of Directors, as well as Main and Controlling Shareholders,
either directly or indirectly, up to the Individual Owner.
Statement on Independence of Independent Commissioners
The currently appointed Independent Commissioner is serving his first term, and therefore, Avian Brands does not
provide information regarding the statement on the independence of an Independent Commissioner having served
for more than two terms.
Change in the Composition of Members of the Board of Commissioners and
Reason for the Change
In 2024, there was no change in the composition of Avian Brands’ Board of Commissioners. The composition of the current Board of
Commissioners is in accordance with the relevant regulations related to Avian Brands’ business activities. This steady composition reflects
the continuity of strong leadership as well as Avian Brands’ commitment to maintaining stability and continuity in strategic decision-making.
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PT Avia Avian Tbk • 2024 Annual Report
Profile of the Board of Directors
BOARD OF DIRECTORS:
Robert Christian Tanoko (Director), Ruslan Tanoko (Vice President Director), Wijono Tanoko (President Director),
Angelica Tanisia Jozar (Director), and Kurnia Hadi Sinanto (Director).
* Notes: From left to right.
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COMPANY PROFILE
WIJONO TANOKO
President Director
Indonesian, 72 years old.
Term of Office and Basis of Appointment
2021 – 2026:
The Deed of Restatement of Shareholders’ Resolutions in Lieu of the Extraordinary General Meeting of Shareholders
of Avian Brands No. 19 dated June 22, 2021, drawn up before Anwar, S.H., M.Kn., a Notary in Gresik Regency.
Educational Background and Certifications
Graduated from Kolese Santo Yusuf High School, Malang in 1972.
Work Experiences
• President Director of PT Tirtakencana Batamindo (2010 – 2016); and
• President Commissioner of PT Wahana Lancar Rejeki (2013 – 2015).
Dual Appointments
• President Director of PT Avia Avian Industri Pipa (2014 – present);
• President Commissioner of PT Tirtakencana Tatawarna (2014 – present);
• Director of PT Wahana Lancar Rejeki (2015 – present);
• President Commissioner of PT Tirtakencana Batamindo (2016 – present);
• Commissioner of PT Solusi Rumah Praktis (2018 – present); and
• President Director of PT Multipro Paint Indonesia (2021 – present).
Education/Training in 2024
• Local Macro Insights, What Indonesia’s New Leadership Means by The Hongkong and Shanghai Banking
Corporation Limited (“HSBC”);
• Italy Meets Indonesia, Focus on Constructions and Building Machinery Sector by the Italian Trade Agency;
• The Forbes Asia Best Under A Billion Forum & Awards Dinner by Forbes; and
• The Future of Route to Market in Indonesia by Bizom.
Affiliation
Mr. Wijono Tanoko is Avian Brands’ ultimate beneficial owner, who shares a familial and financial relationship
with Mr. Hermanto Tanoko as President Commissioner, Mr. Ruslan Tanoko as Vice President Director, and
Mr. Robert Christian Tanoko as Director. He is also affiliated with the Main and Controlling Shareholder of Avian
Brands, namely PT Wahana Lancar Rejeki, in which he serves as Director. However, he has no familial or financial
relationship with other members of the Board of Commissioners and the Board of Directors.
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PT Avia Avian Tbk • 2024 Annual Report
RUSLAN TANOKO
Vice President Director
Indonesian, 49 years old.
Term of Office and Basis of Appointment
2021 – 2026:
The Deed of Restatement of Shareholders’ Resolutions in Lieu of the Extraordinary General Meeting of Shareholders
of Avian Brands No. 19 dated June 22, 2021, drawn up before Anwar, S.H., M.Kn., a Notary in Gresik Regency.
Educational Background and Certifications
• Bachelor of Science in Chemistry and Bachelor of Science in Chemical Engineering from the University of Southern
California, Los Angeles, United States of America in 1996; and
• Master of Engineering in Chemical Engineering from Cornell University, New York, United States of America in
1997.
Work Experiences
• Marketing Director of Avian Brands (2000 – 2016);
• Director of PT Tirtakencana Tatawarna (2006 – 2014);
• Director of PT Tirtakencana Batamindo (2010 – 2016);
• Director of PT Wahana Lancar Rejeki (2013 – 2015); and
• Commissioner of PT Avia Avian Industri Pipa (2014 – 2017).
Dual Appointments
• President Director of PT Tirtakencana Tatawarna (2014 – present);
• President Director of PT Wahana Lancar Rejeki (2015 – present);
• President Director of PT Tirtakencana Batamindo (2016 – present);
• Vice President Director of PT Avia Avian Industri Pipa (2017 – present);
• President Director of PT Solusi Rumah Praktis (2018 – present);
• President Commissioner of PT Bangun Bersama Solusindo (2021 – present); and
• Commissioner of PT Multipro Paint Indonesia (2021 – present).
Education/Training in 2024
• Local Macro Insights, What Indonesia’s New Leadership Means by the HSBC;
• Italy Meets Indonesia, Focus on Constructions and Building Machinery Sector by the Italian Trade Agency;
• The Forbes Asia Best Under A Billion Forum & Awards Dinner by Forbes; and
• The Future of Route to Market in Indonesia by Bizom.
Affiliation
Mr. Ruslan Tanoko is Avian Brands’ ultimate beneficial owner, who shares a familial and financial relationship
with Mr. Hermanto Tanoko as President Commissioner, Mr. Wijono Tanoko as President Director, and
Mr. Robert Christian Tanoko as Director. He is also affiliated with the Main and Controlling Shareholder of Avian
Brands, namely PT Wahana Lancar Rejeki, in which he serves as President Director. However, he has no familial or
financial relationship with other members of the Board of Commissioners and Board of Directors.
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COMPANY PROFILE
ROBERT CHRISTIAN
TANOKO
Director
Indonesian, 39 years old.
Term of Office and Basis of Appointment
2021 – 2026:
The Deed of Restatement of Shareholders’ Resolutions in Lieu of the Extraordinary General Meeting of Shareholders
of Avian Brands No. 19 dated June 22, 2021, drawn up before Anwar, S.H., M.Kn., a Notary in Gresik Regency.
Educational Background and Certifications
Bachelor of Commerce in Information Technology from Curtin University, Bentley, Australia, in 2006.
Work Experiences
• Vice Director of Operations of Avian Brands (2009 – 2015);
• Director of PT Tirtakencana Tatawarna (2014 – 2017); and
• President Commissioner of PT Solusi Rumah Praktis (2018 – 2024).
Dual Appointments
• Director of PT Avia Avian Industri Pipa (2014 – present);
• Director of PT Tancorp Surya Sentosa (2015 – present);
• Vice President Director of PT Tirtakencana Tatawarna (2017 – present);
• Vice President Director of PT Tirtakencana Batamindo (2017 – present);
• Director of PT Bangun Bersama Solusindo (2021 – present);
• Director of PT Multipro Paint Indonesia (2021 – present);
• Chairman of the Good Corporate Governance Committee of Avian Brands (2021 – present); and
• Vice President Director of PT Solusi Rumah Praktis (2024 – present).
Education/Training in 2024
Strategies for Achieving the Sustainable Development Goal Pillars by Paragon.
Affiliation
Mr. Robert Christian Tanoko Tanoko is Avian Brands’ Shareholder, who shares a familial and financial relationship
with Mr. Hermanto Tanoko as President Commissioner, Mr. Wijono Tanoko as President Director, and
Mr. Ruslan Tanoko as Vice President Director. He is also affiliated with the Main and Controlling Shareholder of Avian
Brands, namely PT Tancorp Surya Sentosa, where he serves as Director. However, he has no familial or financial
relationship with other members of the Board of Commissioners and Board of Directors.
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PT Avia Avian Tbk • 2024 Annual Report
KURNIA HADI
SINANTO
Director
Indonesian, 55 years old.
Term of Office and Basis of Appointment
2021 – 2026:
The Deed of Restatement of Shareholders’ Resolutions in Lieu of the Extraordinary General Meeting of Shareholders
of Avian Brands No. 19 dated June 22, 2021, drawn up before Anwar, S.H., M.Kn., a Notary in Gresik Regency.
Educational Background and Certifications
Bachelor of Accounting from Airlangga University, Surabaya, in 1992.
Work Experiences
• Financial Accounting Manager of Avian Brands (2006 – 2010);
• Vice Director of Finance and Accounting of Avian Brands (2010 – 2016); and
• Corporate Secretary of Avian Brands (2021 – 2022).
Dual Appointments
• Director of PT Avia Avian Industri Pipa (2017 – present);
• Director of PT Multipro Paint Indonesia (2021 – present);
• Member of the Good Corporate Governance Committee of Avian Brands (2021 – present); and
• Chairman of the Related Party Transaction Committee of Avian Brands (2022 – present).
Education/Training in 2024
Value Creation in Action to Unleash Your Growth by PricewaterhouseCoopers (“PwC”) Indonesia.
Affiliation
Mr. Kurnia Hadi Sinanto has no family or financial relationship with members of the Board of Commissioners, other
members of the Board of Directors, as well as Main and Controlling Shareholders, either directly or indirectly, up to
the Individual Owner.
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COMPANY PROFILE
ANGELICA TANISIA
JOZAR
Director
Indonesian, 43 years old.
Term of Office and Basis of Appointment
2022 – 2026:
The Deed of Restatement of Avian Brands’ Meeting Resolution No. 2 dated September 7, 2022, drawn up before
Dr. Susanti, S.H., M.Kn., a Notary in Surabaya City.
Educational Background and Certifications
• Bachelor of Engineering from Parahyangan Catholic University, Bandung, in 2003; and
• Professional Engineer from Parahyangan Catholic University, Bandung in 2021.
Work Experiences
• Head of Production of PT Tiga Arga (2003 – 2010);
• Research & Development Manager, Trade Unit Division of PT Nipsea Paint & Chemicals (2010 – 2018); and
• Research, Development & Innovation Director of Avian Brands (2018 – 2022).
Dual Appointments
-
Education/Training in 2024
• Socialization of INDI 4.0 Assistance by Avian Brands;
• Adhesive Formulation by Minh Hieu Nguyen – BYK; and
• Rheology Modifier by Brenntag.
Affiliation
Mrs. Angelica Tanisia Jozar has no family or financial relationship with members of the Board of Commissioners,
other members of the Board of Directors, as well as Main and Controlling Shareholders, either directly or indirectly,
up to the Individual Owner.
Change in the Composition of Members of the Board of Directors and Reason for the Change
In 2024, there was no change in the composition of Avian Brands’ Board of Directors. The composition of the current
Board of Directors is in accordance with the relevant regulations related to Avian Brands’ business activities. This steady
composition reflects the continuity of strong leadership as well as Avian Brands’ commitment to maintaining stability and
continuity in strategic decision-making.
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PT Avia Avian Tbk • 2024 Annual Report
Shareholder Information
Shareholder List
January 1, 2024
December 31, 2024
(Initial Opening of Stock Trading)
Description Number of Total Nominal Share Number of Total Nominal Share
Shares Value Ownership Shares Value Ownership
(Shares) (IDR) (%) (Shares) (IDR) (%)
5% or more
PT Tancorp Surya
22,674,971,000 226,749,710,000 36.60 22,674,971,000 226,749,710,000 36.60
Sentosa
PT Wahana Lancar
20,129,652,900 201,296,529,000 32.49 20,129,652,900 201,296,529,000 32.49
Rejeki
Archipelago
Investment Private 3,902,748,900 39,027,489,000 6.30 3,902,748,900 39,027,489,000 6.30
Limited
Under 5%
Robert Christian
1,425,406,300 14,254,063,000 2.30 1,425,406,300 14,254,063,000 2.30
Tanoko
Rudi Tanoko 1,041,265,000 10,412,650,000 1.68 1,041,265,000 10,412,650,000 1.68
Rony Tanoko 497,829,300 4,978,293,000 0.80 1,041,265,000 10,412,650,000 1.68
Treasury Stock 1,163,449,200 11,634,492,000 1.88 34,618,800 346,188,000 0.06
Public *)
11,118,233,000 111,182,330,000 17.95 11,703,627,700 117,036,277,000 18.89
Total Issued and
61,953,555,600 619,535,556,000 100.00 61,953,555,600 619,535,556,000 100.00
Paid-Up Capital
*) Including shares owned by Mr. Wijono Tanoko, Mr. Kurnia Hadi Sinanto, and Mrs. Angelica Tanisia Jozar,
Composition of Share Ownership by Members of the Board of Commissioners and
the Board of Directors
January 1, 2024
December 31, 2024 (Initial Opening
of Stock Trading) Ownership
Name Position
Number of Share Number of Share Status
Shares Ownership Shares Ownership
(Shares) (%) (Shares) (%)
The Board of Commissioners
President
Hermanto Tanoko 0 0 0 0 -
Commissioner
Mohammad Noor Independent
0 0 0 0 -
Rachman Soejoeti Commissioner
The Board of Directors
Wijono Tanoko President Director 2,504,200 0.00 2,504,200 0.00 Direct
Indirectly
through
Ruslan Tanoko Vice President Director 37,724,500 0.06 20,959,300 0.03
PT Sensasi Istana
Warna
Robert Christian
Director 1,425,406,300 2.30 1,425,406,300 2.30 Direct
Tanoko
Kurnia Hadi
Director 651,600 0.00 556,600 0.00 Direct
Sinanto
Angelica Tanisia
Director 222,400 0.00 169,300 0.00 Direct
Jozar
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Share Ownership by Classifications
January 1, 2024
December 31, 2024
(Initial Opening of Stock Trading)
Description Number of Share Number of Share
Total Investor Shares Ownership Total Investor Shares Ownership
(Shares) (%) (Shares) (%)
National Investor
Indonesian Individual 15,371 4,115,116,372 6.64 12,579 4,215,758,172 6.80
Pension Fund
11 53,999,000 0.09 9 29,480,700 0.05
Foundation
Insurance 12 120,484,900 0.20 6 26,154,700 0.04
Limited Company 83 45,640,469,594 73.67 60 43,982,864,110 71.00
Others 1 353,100 0.00 1 337,100 0.00
Foreign Investor
Foreign Individual 12 2,879,200 0.00 9 244,100 0.00
Limited Company 149 12,020,253,434 19.40 166 13,698,716,718 22.11
Total 15,639 61,953,555,600 100.00 12,830 61,953,555,600 100.00
Main and Controlling Shareholders
Neilson Audrey Caleb
Ruslan Rudi Rony Hermanto Muliawati
Fritz Reis Royce Lilyani Tanoko
Tanoko Tanoko Tanoko Tanoko Tanoko
Tanoko Tanoko Tanoko
99.995% 0.005% 99.996% 0.004% 99.999% 0.001% 82.72% 99.86% 70.00%
PT Jaya Robert Marvin
PT Sensasi PT Asiapasifik Belinda
Sentosa Christian Aditya
Istana Warna Rekacipta Teknik Natalia
Lancarabadi Tanoko Pranoto
PT Vistra
33.33% 33.33% 33.33% 4.32% 4.32% 10.00% Maria
Sentral
Harmoni Lavetta
Caroline Marcel
Melisa
Novilia Satrya
Patricia 0.14% 10.00%
Tanoko Pramono
Minister for 4.32% 4.32% 10.00%
Finance.
Singapore
Lim Lie Wijono PT Rukun PT Sinar Surya PT Marco Mega
Tjijen Tanoko Rimpah Rejeki 100.00% Sarana Sukses Mulia
1.54% 50.44% 48.03% 50.00% 50.00%
GIC (Ventures)
PT Wira Laju PT Sensasi Pte Ltd PT Tancorp PT Voka
Rejeki Istana Warna Global Sentosa Nobelindo
100.00%
73.56% 26.44% 69.39% 30.61%
Archipelago Robert
Rudi Rony PT Wahana PT Tancorp Treasury
Investment Christian Public
Tanoko Tanoko Lancar Rejeki Surya Sentosa Stock
Pte Ltd Tanoko
1.68% 0.80% 32.49% 6.30% 36.60% 2.30% 1.88% 17.95%
PT Avia Avian Tbk
Based on the aforementioned structure, the Main and Controlling Shareholders of Avian Brands are PT Wahana Lancar Rejeki
and PT Tancorp Surya Sentosa. Meanwhile, the ultimate beneficial owners of Avian Brands are Wijono Tanoko,
Hermanto Tanoko, and Ruslan Tanoko.
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PT Avia Avian Tbk • 2024 Annual Report
Chronology of Share Listing
On December 8, 2021, Avian Brands conducted an Initial Public Offering on the Indonesia Stock Exchange with stock code
AVIA after obtaining an effective statement from the Board of Commissioners of the Financial Services Authority based on
Letter No. S-223/D.04/2021 dated November 30, 2021. In this Public Offering, Avian Brands successfully issued a total of
6,200,000,000 shares or equivalent to 10.0075% of the issued and paid-up capital with a nominal value of IDR10 per share,
at an offer price of IDR930 per share. A total of 3,099,300 shares or equivalent to 0.05% of the total offer shares, were allocated
for the Employee Stock Allocation (“ESA”) program, demonstrating Avian Brands’ commitment to extending shareholding
opportunities to its employees.
In addition to the Initial Public Offering, Avian Brands also conducted a Private Placement by the Selling Shareholders who are
Shareholders of Avian Brands. This offering comprised 5,575,355,600 registered common shares or equivalent to 10.00% of
Avian Brands’ total issued and paid-up capital. This offer was made on the date of listing on the Indonesia Stock Exchange at the
same offer price as the Initial Public Offering. Accordingly, Avian Brands’ total shares listed on the Indonesia Stock Exchange is
61,953,555,600 shares with a nominal value of IDR10.- per share. In addition to increasing the liquidity of Avian Brands’ shares,
these transactions also consolidate Avian Brands’ position in the Indonesian capital market with strong support from
Avian Brands’ Shareholders and new investors.
On December 7, 2023, Avian Brands conducted a buyback of Avian Brands’ shares that have been issued and listed on the
Indonesia Stock Exchange in the maximum amount of 1,425,000,000 shares or approximately 2.3% of the entire issued and
fully paid-up capital. This corporate action is executed in stages within a maximum period of 18 months from the date of
execution. As of December 31, 2024, Avian Brands has repurchased 1,163,449,200 ordinary shares of Avian Brands through
the Indonesia Stock Exchange. This corporate action changed the number of outstanding shares of Avian Brands at the end of
2024 to 60,790,106,400 shares from the initial 61,953,555,600 shares.
Sharia Securities
As of the end of 2021, all traded shares of Avian Brands in the Indonesian Stock Exchange, have been designated as sharia
equity securities pursuant to a decision issued by the Financial Services Authority (Otoritas Jasa Keuangan or “OJK”).
This has resulted in Avian Brands’ shares being listed on the List of Sharia Securities (Daftar Efek Syariah or “DES”), which
represents group of securities that do not conflict with sharia principles in the capital market. This achievement underscores
Avian Brands’ commitment to conducting operations that do not conflict with sharia principles, making it a viable investment
option for investors who emphasize sharia aspects in their portfolios.
The determination of Avian Brands’ shares to be registered • other products or services that conflict with
in the DES as stipulated by the OJK, namely being included sharia principles based on the stipulation of
in the category of securities in the form of shares issued by the National Sharia Board – Indonesian Ulema
Avian Brands that does not state the activities and types of Council; and
business, know-how, and/or the services it provides based e. conducting other activities that are contrary to
on Sharia Principles in the Capital Market, as long as Avian sharia principles based on the stipulation of the
Brands: National Sharia Board – Indonesian Ulema Council;
1. does not conduct any activities and types of business 2. does not conduct any transactions that are contrary to
that are contrary to Sharia Principles in the Capital Sharia Principles in the Capital Market; and
Market including: 3. fulfils the following financial ratios:
a. gambling and games considered as gambling; a. the ratio of interest-based liabilities to total assets is
b. ribawi financial services; not more than 45%; and
c. buying and selling of risks that involve speculation b. the ratio of interest income and other non-islamic
(gharar) and/or gambling (maisir); income to total operating income and other income
d. producing, distributing, trading, and/or providing: is not more than 10%.
• products or services that are forbidden because
of its contents (haram li-dzatihi); The inclusion of Avian Brands’ shares into the DES provides
• products or services that are forbidden not ease to investors as the investments made can be guaranteed
because of its contents (haram li-ghairi), halal and free from riba. In addition, investors are also given
determined by the National Sharia Board – the freedom to conduct transactions of Avian Brands’ shares
Indonesian Ulema Council; as it may be undertaken on conventional exchanges and
• products or services that can deprave one’s sharia exchanges.
moral and are harmful (mudarat); and/or
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Company’s Stock Index
A stock index is a statistical measure used to reflect the price movements of a selected group of stocks in the capital
market. This index may include stocks from different economic sectors or with certain characteristics, such as size of market
capitalization or liquidity. Its main purpose is to give an overview of the stock market’s performanceas a whole or of a
particular sector within a country. As of the end of 2024, Avian Brands’ shares are included in several prestigious indexes
on the Indonesia Stock Exchange, such as IDX Composite, ESGQKEHATI, SRI-KEHATI, ESGSKEHATI, JII70, IDX80, KOMPAS100,
IDXQ30, IDXSMC–LIQ, ISSI, MNC36, IDXSMC–COM, IDXBASIC, MBX, PEFINDO25, serta IDXESGL. In addition to the Indonesia
Stock Exchange indexes, Avian Brands is also listed on the MSCI Small Cap Index.
Being an ESGQKEHATI, SRI-KEHATI, and ESGSKEHATI index constituent shows that Avian Brands is committed to
sustainable management efforts that prioritize environmental, social, and good corporate governance concerns.
As a JII70 index constituent, Avian Brands’ shares are among the most liquid Sharia-compliant stocks listed on the IDX.
Constituents of the IDX80 and KOMPAS100 indexes illustrate that Avian Brands’ shares possess high liquidity and significant
market capitalization, supported by strong company fundamentals. IDXQ30 index constituent indicates that Avian Brands
exhibits relatively high profitability, good solvency, and stable profit growth, with transaction liquidity as well as strong
financial performance. Meanwhile, the IDXSMC-LIQ index portrays that Avian Brands’ shares have high liquidity and market
capitalization in the small and medium range.
Chronology of Other Securities Listing
Until the end of 2024, Avian Brands has not issued other securities such as bonds, sukuk, convertible bonds, or other securities
that are justified in accordance with the laws and regulations.
Corporate Structure
PT Avia Avian Tbk
50.00% 99.99% 99.99% 67.00%
PT Bangun Bersama PT Tirtakencana PT Multipro Paint
PT Solusi Rumah Praktis
Solusindo Tatawarna Indonesia
99.98%
PT Tirtakencana
Batamindo
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PT Avia Avian Tbk • 2024 Annual Report
Subsidiaries, Associates, and Joint-Ventures
As of the end of 2024, Avian Brands owns 3 direct subsidiaries, 1 indirect subsidiary, and 1 joint venture. The existence of
these subsidiaries reflects Avian Brands’ strategy in expanding its presence and operational diversity, accommodating various
market needs, and optimizing synergies between entities within the group. In addition, through its joint ventures, Avian Brands
participates in collaborative investments that promote growth and exploration of new opportunities in relevant markets.
Information related to the Subsidiaries and the joint-venture is described as follows:
Direct Ownership
PT Tirtakencana Tatawarna
Legal Basis of Establishment Business Sector Operational Status
Deed of Establishment No. 27,
Wholesale trade of paints,
dated July 14, 2000, drawn up before Operating
warehousing and storage, and
Dyah Ambarwaty Setyoso, S.H.,
self-owned or leased real estate.
a Notary in Surabaya.
Address Share Ownership Total Assets Before Elimination
Jl. Raya Surabaya - Sidoarjo KM. 19,
Desa Wadungasih, Kec. Buduran, 99.99% IDR4,176,481 million
Kab. Sidoarjo, Jawa Timur, Indonesia.
PT Solusi Rumah Praktis
Legal Basis of Establishment Business Sector Operational Status
Deed of Establishment No. 17,
Retail trade of paints, varnishes,
dated November 22, 2018, drawn up before Operating
and Lacquers, as well as painting.
Anwar, S.H., M.Kn., a Notary in Gresik Regency.
Address Share Ownership Total Assets Before Elimination
Avian Brands Building
Jl. Ahmad Yani No. 317,
99.99% IDR1,066 million
Kel. Dukuh Menanggal, Kec. Gayungan,
Kota Surabaya, Jawa Timur, Indonesia.
PT Multipro Paint Indonesia
Legal Basis of Establishment Business Sector Operational Status
Paint and printing ink industry,
Deed of Establishment No. 80, dated
varnish industry (including mastics),
August 27, 2008, drawn up before Operating
wholesale trade of paints, and wholesale
David, S.H., M.Kn., a Notary in Jakarta.
trade of various building materials.
Address Share Ownership Total Assets Before Elimination
Menara Satu Sentra Kelapa Gading
7th Floor, Room 6,
Jl. Boulevard Kelapa Gading LA 3 No. 1, 67.00% IDR33,043 million
Kel. Kelapa Gading Timur, Kec. Kelapa Gading,
Jakarta Utara, DKI Jakarta, Indonesia.
Indirect Ownership
PT Tirtakencana Batamindo (through PT Tirtakencana Tatawarna)
Legal Basis of Establishment Business Sector Operational Status
Deed of Establishment No. 58, dated Wholesale trade of various building
September 30, 2010, drawn up before materials, wholesale trade of
Operating
Rusdi Mulyono, S.H., M.Kn., a Notary in other construction materials, and
Surabaya. retail trade of furniture.
Address Share Ownership Total Assets Before Elimination
Komplek Executive Industrial Park
Blok D2 No. 8,
99.98% Rp34,708 million
Kel. Belian, Kec. Batam Kota,
Kota Batam, Kepulauan Riau, Indonesia.
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Joint-Venture
PT Bangun Bersama Solusindo
Legal Basis of Establishment Business Sector Operational Status
Deed of Establishment No. 1, Wholesale trade of cement, lime, sand, and
dated February 1, 2021, drawn up before stone as construction materials, building
Operating
Emmyra Fauzia Kariana, S.H., M.Kn., materials, as well as basic or industrial
a Notary in Jakarta. chemical materials and goods.
Address Share Ownership Total Assets Before Elimination
Sequis Tower Level 15,
Jl. Jenderal Sudirman Kav. 71, Kel. Senayan, IDR53,536 million
50.00%
Kec. Kebayoran Baru, Kota Adm. Jakarta
Selatan, DKI Jakarta, Indonesia.
Capital Market Supporting Institutions
and Professions
Public Accounting Firm
Public Accounting Firm Services Provided :
Teramihardja, Pradhono & Audit Services : Performed audit of Avian Brands’ Consolidated Annual Financial Statements
Chandra for the financial year ended December 31, 2024, based on auditing standards
(a member firm of Crowe Global) established by the Indonesian Institute of Certified Public Accountants.
AXA Tower 27th Floor, Suite 03 Non-Audit Services : None
Jl. Prof. Dr. Satrio Kav. 18 Assignment Period : 2024
Jakarta, 12940, Indonesia Cost (IDR):
T: (62-21) 3005 6267 Audit Services : Rp700,000,000.-
F: (62-21) 3005 6269 Non-Audit Services : None
Notary
Dr. Susanti, S.H., M.Kn. Services Provided:
Ruko Office Park 1 Prepared the deed of Minutes of the Annual General Meeting of Shareholders (“GMS”) for the financial
Jl. Bukit Darmo Golf Blok B1 No. 19 year of 2024.
Kel. Pradahkalikendal, Assignment Period: 2024
Kec. Dukuh Pakis
Surabaya 60226, Indonesia
T : (62-31) 9914 6264
Securities Administration Bureau
PT Bima Registra Services Provided:
Satrio Tower, 9 A2 Floor 1. Performed data maintenance, prepared presentation of the Shareholders List (Daftar Pemegang
Jl. Prof. DR. Satrio Blok C4 Saham or “DPS”) and monthly reports;
Kuningan, Setiabudi 2. Assisted in the organization of the Annual GMS in the context of the presentation of DPS per
Jakarta Selatan, Indonesia recording date, attendance list, and assisted in the vote count at the GMS; and
T : (62-21) 2598 4818 3. Assisted in the implementation of interim dividend and final dividend payments in the context of
F : (62-21) 2598 4819 the presentation of DPS per recording date, as well as calculating the amounts of dividends and
taxes for each Shareholder.
Assignment Period: 2024
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PT Avia Avian Tbk • 2024 Annual Report
Information Access
Avian Brands affirms its commitment to providing transparent and regular access to information for Shareholders and
other stakeholders. Information access management is headed and periodically updated by the Corporate Secretary and
the Investor Relations Department in accordance with the needs and applicable regulations. This ensures timely access to
relevant information by all parties involved, thereby fostering a transparent and responsive relationship between Avian Brands
and its stakeholders. The provision of information to Shareholders and stakeholders may be further accessed through:
Avian Brands Building
(62-31)
99850500/99850600
Jl. Ahmad Yani No. 317
Surabaya 60234
Jawa Timur, Indonesia
www.avianbrands.com
corsec@avianbrands.com
investor.relations@avianbrands.com
Human Resources
Human Resources (“HR”) serves as the main foundation for Avian Brands in driving sustainable target achievement and
performance. Avian Brands recognizes that successful achievement of strategic objectives is highly dependent on the
quality and contribution of each individual in the organization. Therefore, its HR management is carried out prudently,
adhering to applicable regulations and best practice in similar industries. Avian Brands is committed to creating a productive
and comfortable working environment for all employees. This is achieved through various initiatives, including ongoing
training and skills development, employee welfare programs, and policies that promote work-life balance. These programs
are designed to encourage employees to reach their full potential and make maximum contributions to Avian Brands’ goals.
Furthermore, Avian Brands emphasizes its commitment to non-discrimination by ensuring fair and equal treatment of every
employee regardless of background, gender or other status. Avian Brands believes that diversity and inclusion are key to
realizing innovation and creativity. Therefore, Avian Brands encourages a work culture that respects differences and promotes
collaboration. By cultivating an inclusive and supportive work environment, not only does Avian Brands seek to improve overall
performance, but also to build a positive and sustainable work culture, where each individual feels valued and motivated to
contribute to the best of their abilities. Avian Brands believes that with a strong focus on HR management, it will continuously
grow and develop to confidently navigate future challenges.
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Organizational Structure of HR Management
Leading the organizational structure responsible for managing Avian Brands’ HR, is the Human Resources and General Affairs
(“HRGA”). This unit is responsible for ensuring effective and efficient HR management in all aspects, in line with Avian Brands’
Vision and Mission. Within the HRGA, there are several subunits with roles and responsibilities to support HR management,
such as units in charge of People Development, Organization Development, Recruitment, Personnel Administration, General
Affair, Industrial Relation, Human Resource Information System (“HRIS”), and Human Resource Business Partner. Further details
on organizational structure of Avian Brands’ HR management are described as follows:
HRGA
POD & Recruitment HR Operations
People Organization Personnel Industrial HR Business
Recruitment General Affair HRIS
Development Development Administration Relation Partner
HR Development
Avian Brands consistently allocates resources for HR development as an integral part of its competitive advantage and
development strategy. This commitment encompasses investment in training and professional development, as well as a focus
on improving technical and leadership skills across the organization. With a firm commitment, Avian Brands continuously
strives to achieve the objective of building a stronger and more responsive team, that is well-prepared to face the challenges
and opportunities in today’s dynamic market.
In general, HR development realized by Avian Brands for 2024 is described as follows:
HR Development Strategy in 2024
Core Competency Training 1
Mandatory training for all employees, including trainings on Company Values (CInTA), GCG,
Code of Conduct, etc.
Technical Competency Training 2
Training aimed to improve employees’ technical skills, in order to boost their capabilities and performance in
line with Avian Brands’ needs.
Generic Competency Training 3
Training aimed to improve employees’ non-technical skills, such as effective communication, creative and
critical thinking, team building, and other abilities related to individual personality development.
Leadership Competency Program 4
A program aimed to prepare employees to become leaders through a leadership ladder program.
Certification and Standardization Training 5
Training aimed to ensure that employees’ technical and specialized skills are standardized according to their
job functions.
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PT Avia Avian Tbk • 2024 Annual Report
HR Recruitment
HR recruitment is a crucial first step in ensuring organizational regeneration and sustainability. This process aims to seek
out the best candidates that fit the specific needs and values upheld by Avian Brands. With prudent and strategic selection,
Avian Brands can ensure that every recruit has the potential to contribute continuously to Avian Brands’ growth and success.
In its implementation, Avian Brands has established manpower planning at the end of each year. In compliance with
Manpower Planning, Avian Brands’ recruitment methods include 2 approaches, i.e., internal and external recruitment. Internal
recruitment encompasses promotions, transfers, and rotations of existing employees in the organization. With internal
recruitment, Avian Brands provides opportunities for employees to grow and rise to higher positions. This not only enhances
employee motivation and loyalty, but also ensures that promoted or transferred employees gain a deep understanding of
Avian Brands’ culture and operations, essential to maintaining Avian Brands’ continuity and stability.
External recruitment, on the other hand, involves open selection for qualified prospective employees. Avian Brands may
also collaborate with various external parties, such as organizing job fairs, campus recruitment, and through job portal
platforms to attract external potential candidates. This external recruitment allows Avian Brands to acquire new perspectives,
fresh skills, and specific expertise that may not be available internally, therefore enriching and strengthening the workforce.
To facilitate a more efficient and integrated recruitment process, Avian Brands also optimizes the use of digital technology.
Avian Brands has established a recruitment database on its website that supports various stages of the recruitment process,
from vacancy advertisement, candidate database storage, candidate selection, online test result storage, to job interviews that
can be conducted online. This allows for a faster and more efficient recruitment process that can reach potential candidates
from various locations without any geographical limitations.
It is important to note that the entire recruitment process in Avian Brands is conducted free of charge and in a transparent
manner, without any ethnic, religious, racial, gender, or political discrimination. This commitment is part of Avian Brands’ efforts
to ensure fair and transparent opportunities for each candidate in the selection process. Throughout 2024, Avian Brands and
its Subsidiaries recruited a total of 171 new employees placed in various positions within Avian Brands and its Subsidiaries.
Of these figures, Avian Brands recruited 90 employees, TKTW recruited 80 employees, and BBS recruited 1 employee.
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HR Composition
By the end of 2024, the number of employees of Avian Brands and its Subsidiaries (including outsourced employees)
totaled 9,387 individuals, an increase of 9.61% compared to 8,564 individuals in 2023. Detailed composition of employees of
Avian Brands and the Subsidiaries is presented below:
2024 2023*
Category Avian Subsidiary Avian Subsidiary
Brands TKTW TKBI SRP BBS MPI Brands TKTW TKBI SRP BBS MPI
Number of Employees by Gender
Male 1,583 5,593 37 1 5 44 1,458 5,269 32 3 4 56
Female 239 1,860 10 0 4 11 228 1,488 8 0 5 13
Total 1,822 7,453 47 1 9 55 1,686 6,757 40 3 9 69
Number of Employees by Position
Board of
5 1 0 1 1 1 5 1 0 2 1 1
Directors**
Deputy Director 5 12 0 0 1 1 5 12 0 0 1 1
Manager 68 188 1 0 5 6 66 176 1 1 5 7
Supervisor 131 588 3 0 1 5 75 576 4 0 0 6
Staff 424 237 0 0 1 32 464 230 0 0 2 35
Outsourcing 1,189 6,427 43 0 0 10 1,071 5,762 35 0 0 19
Total 1,822 7,453 47 1 9 55 1,686 6,757 40 3 9 69
Number of Employees by Age
18 – 24 Years Old 348 1,246 8 0 0 2 355 1,111 6 0 0 2
25 – 34 Years Old 943 3,884 22 0 1 30 828 3,505 17 0 2 49
35 – 44 Years Old 301 1,933 12 1 2 8 302 1,784 14 2 2 6
45 – 54 Years Old 198 355 5 0 5 12 179 327 3 0 4 9
>55 Years Old 32 35 0 0 1 3 22 30 0 1 1 3
Total 1,822 7,453 47 1 9 55 1,686 6,757 40 3 9 69
Number of Employees by Education
Master Degree 20 13 0 0 2 0 19 14 0 1 2 0
Bachelor Degree 329 1,595 6 1 6 25 315 1,508 6 2 6 27
Diploma (D3) 22 300 0 0 0 6 19 282 0 0 0 4
≤High School
1,451 5,545 41 0 1 24 1,333 4,953 34 0 1 38
and Equivalent
Total 1,822 7,453 47 1 9 55 1,686 6,757 40 3 9 69
Number of Employees by Employment Status
Permanent
537 842 4 1 8 33 527 862 5 3 8 25
Employee
Non-Permanent
96 184 0 0 1 12 88 133 0 0 1 25
Employee
Outsourcing 1,189 6,427 43 0 0 10 1,071 5,762 35 0 0 19
Total 1,822 7,453 47 1 9 55 1,686 6,757 40 3 9 69
* Data restated.
** Calculation on the number of members of the Board of Directors of the Subsidiaries is not done separately, in order to avoid double counting. Members of
the Board of Directors serving in Avian Brands are not double counted for their dual positions in the Subsidiaries, therefore, this table contains members of
the Board of Directors of the Subsidiaries that are recorded as “0” or “1”. This reflects the existence of the members of the Board of Directors in the Subsidiaries,
but administratively the calculation is being done at Avian Brands as the Parent Entity.
Notes :
TKTW : PT Tirtakencana Tatawarna
TKBI : PT Tirtakencana Batamindo BBS : PT Bangun Bersama Solusindo
SRP : PT Solusi Rumah Praktis MPI : PT Multipro Paint Indonesia
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Competence Development
Competence development is one of the main pillars of To achieve optimal results, Avian Brands does not only
Avian Brands’ HR management strategy. In line with rely on internal resources in implementing competence
Avian Brands’ growth, employee competence development development programs. Program implementation also
becomes increasingly crucial to ensure that each engages qualified external parties with expertise in their
individual can make maximum contribution to achieving respective fields. Cooperation with reliable external partners
of Avian Brands’ objectives. Therefore, Avian Brands enables Avian Brands to provide more comprehensive
and its Subsidiaries have continuously implemented and up-to-date training and education to employees.
competence development programs, which consist of These programs are designed to equip employees with
basic and technical competence improvement programs the latest knowledge and skills, so that they can face
designed to meet specific needs in various fields of work. increasingly complex and dynamic business challenges.
With these comprehensive and sustainable competence In addition, every employee is given equal opportunity to
development programs in place, employees are able to not participate in competence development programs in their
only improve their productivity, but also adapt quickly to respective fields.
industry changes and innovations. This will ultimately boost
overall performance and ensure that Avian Brands remains Throughout 2024, Avian Brands and its Subsidiaries
competitive and capable of achieving sustainable growth. organized and enrolled a total of 42,345 participants in
482 competence development programs. Further details
are described as follows:
Number of
Type of Number of
Competence
Competence Target of Competence Appointment of Number of Competence
Development
Development Development Participants Participants *) Development
Hours
Program (Program)
(Hour)
Basic Competence To polish skills and Staff – Deputy 10,090 214 22,637.5
teach norms to Director
support employees in
implementing of their
duties and responsibilities.
Technical Competence To certify and improve skills Staff – Deputy 32,255 268 53,652
that can support the work Director
of employees.
*) Each employee may participate in more than one competence development program.
Standardization of HR Management
Avian Brands is committed to devoting full attention to goals. In 2024, Avian Brands evaluated the effectiveness
HR management, which is not only limited to employee of the Standard Operating Procedures (“SOP”) for the
competence development, but also entails continuous entire organization, consisting of 23 SOPs, 12 standard,
efforts to improve the overall HR management system. and 123 forms. Of these figures, 17 SOPs, 8 standards,
By conducting in-depth analysis and periodic reviews and 42 forms are new standards formulated in 2024 within
of the implemented standards, Avian Brands ensures the MPI scope, while 4 SOPs, 2 standards, and 8 forms
that its HR management system remains relevant are reviews of existing standards within Avian Brands.
and adaptive to industry changes and developments. Meanwhile, TKTW has reviewed 2 SOPs, 2 standards, and
This measure ensures that all aspects of HR management 43 forms, and issued 30 new forms.
are aligned with Avian Brands’ strategic plans, thus
supporting the achievement of predetermined long-term
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Complaint Management
Avian Brands is committed to maintaining and fostering Each complaint submitted shall be fully addressed and
healthy and harmonious working relationships, both followed up, either internally by the immediate superiors
between Avian Brands and employees as well as among the jointly with the relevant employee, or by a dedicated
employees themselves. To achieve this conducive working Complaint Team specifically established to handle more
environment, Avian Brands has designed and implemented complex issues. If at this stage the complaint is yet to
a complaint management system, representing a systematic be resolved, Avian Brands will escalate the complaint
and transparent procedure to handle various employee by involving the Bipartite Cooperation Institution and
complaints. This system allows each employee to submit Top Management, to sit together to negotiate and seek the
their complaints through 2 methods, adjusted to their needs best solution. This process ensures that any issues employees
and convenience, i.e. through direct verbal discussions face are dealt with seriously and appropriately, to maintain
with their superiors, or by filling out survey forms, that are a harmonious and productive working relationship. It also
accessible online or offline through suggestion boxes placed reflects Avian Brands’ commitment to employee well-being
in various strategic locations. and the significance of creating a comfortable working
atmosphere, in which every voice and complaint is heard
and followed up with concrete measures.
In 2024, Avian Brands conducted 2 employee complaint survey, with a total of 191 respondents participating. In addition
to the complaint survey, in 2024 Avian Brands also conducted 64 employee satisfaction survey regarding the services of
the Human Resources Department, with the following results:
Total Percentage of Service Satisfaction Score (Complaint Management)
61.78%
Category Percentage (%)
19.90%
14.66%
2.09% 1.57%
Very Satisfied Satisfied Slightly Satisfied Dissatisified Very Dissatisfied
Employee Turnover
Avian Brands is committed to creating a work environment that promotes employee development and well-being, as a key
strategy to reduce employee turnover. Avian Brands understands that investing in employee development is not simply
about enhancing individual satisfaction, but also about building solid relationships between employees and Avian Brands.
By providing access to career development opportunities, continuous training programs relevant to the needs of the industry,
and promoting an inclusive and collaborative work culture, Avian Brands aims to cultivate conditions where every employee
feels valued, supported, and afforded the opportunities to grow.
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These measures help Avian Brands retain committed and experienced employees, and boost motivation within the entire
organization. Avian Brands believes that providing appropriate support and facilitating the development of each individual’s
potentialcan build a strong and productive team. This constitutes a part of Avian Brands’ commitment to build a solid
foundation for its sustainable growth, by reducing employee turnover and optimizing service quality and overall performance.
Information on the employee turnover rate for Avian Brands and its Subsidiaries is described as follows:
2024*) 2023*)
Source Percentage Percentage
Total Total
(%) (%)
Retirement 5 2.25 9 6.77
Resignation 97 43.69 73 54.88
Termination of Employment 82 36.94 42 31.58
Employment Status Change 38 17.12 6 4.51
Deceased 0 0 3 2.26
Total Employee Turnover 222 100.00 133 100.00
*)
The measurement of the employee turnover rate above includes permanent employees of Avian Brands and its Subsidiaries. Avian Brands does not measure
the turnover rate for outsourced employees, given the high fluctuation of outsourced employees depending on the increase or decrease in total production.
Employee Performance Evaluation
Employee performance evaluation is a process designed by Avian Brands to ensure that each team member carries out their
duties and responsibilities with high professionalism. Avian Brands assesses employee performance based on their ability
to achieve the predetermined targets in accordance with their respective skills and positions. In addition to quantitative
work output, this approach also takes into account employees’ quality of work, contribution to the team, and competence in
performing daily tasks.
Performance evaluation processes are conducted on a periodic and structured basis in order to evaluate achievements and
discuss further opportunities for development. The feedback provided in these evaluations not only aims to identify strengths
and development areas, but also to provide the necessary support for employees to reach their full potential. Avian Brands
believes that this approach not only ensures optimal service quality and achievement of corporate goals, but also creates
a supportive and fair work environment oriented towards employee development. This is consistent with Avian Brands’
commitment to creating a workplace that promotes growth, where every individual can thrive and contribute to achieving
Avian Brands’ vision and mission.
The indicators used for performance evaluation are described as follows:
PERFORMANCE
COMPETENCE MATRIX ASSESSMENT
APPRAISAL
The process of measuring The process of measuring The process of measuring
technical competence fulfillment competence fulfillment to potential and performance
and development plans to support job functions, including is conducted periodically
support technical job functions. performance achievements, using assessment tools as a
work culture (CInTA), general consideration for granting
competencies, work discipline, promotion and talent mapping.
and leadership.
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HR Development Strategy in 2025
Heading into 2025, Avian Brands intends to maintain its commitment to HR development as a priority in its growth
strategy. Avian Brands has planned several initiatives to strengthen team capacity by developing industry-relevant
technical skills, improving leadership capabilities, and providing sustainable career opportunities. This strategy will solidify
Avian Brands’ foundation to navigate the changes and complexities of the ever-changing market, as well as maintain
a competitive edge in the market.
In general, HR development realized by Avian Brands for 2025 is described as follows:
1. Talent Management and Planning System
A process designed by Avian Brands to manage, develop, and maximize HR potential, both for present and future needs.
With a carefully planned approach, this system ensures optimal contribution from each employee while preparing for
upcoming challenges, thereby contributing to the sustainable achievement of Avian Brands’ objectives.
2. Corporate Culture Infiltration and Campaigns
Corporate culture infiltration and campaigns are designed to reinforce the implementation of core values and shared
practices across operations. A solid corporate culture lays the foundation for employees’ mindset and behavior, while
simultaneously solidifying Avian Brands’ image in the eyes of the public. Through a systematic approach and continuous
campaigns, these values are integrated into every aspect of operations, creating harmony between Avian Brands’ Vision,
employee conduct, and external perceptions.
3. Employer Branding Program
A strategy to build and maintain Avian Brands’ reputation as an excellent employer. This program aims to attract potential
job seekers, retain the loyalty of existing employees, and reinforce positive perceptions among key stakeholders.
Through a well-planned and sustainable approach, Avian Brands is able to showcase its values, work culture, and
competitive advantages, thereby strengthening its image as an ideal and reliable workplace.
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Information Technology
Avian Brands views Information Technology (“IT”) as essential in supporting all business and operational activities.
For Avian Brands, IT is more than just an instrument, but also acts as a key pillar in achieving Avian Brands’ strategic targets.
The availability of IT enables Avian Brands to conduct business processes more efficiently and effectively, as well as to facilitate
more accurate decision-making based on valid and structured data. Through optimal IT implementation, Avian Brands can
improve operational efficiency throughout the entire production chain, particularly in the large-scale manufacturing industry,
which requires high speed and precision at every stage.
Furthermore, Avian Brands continuously strives to improve its IT quality and performance in terms of speed, accuracy,
reliability, and stability of the flow of information and communication. This is a continuous effort to support automation
of various internal processes, enabling smoother and more coordinated Avian Brands’ operations. By integrating more
advanced IT, Avian Brands is not only able to respond quickly to market changes, but also improve its overall competitiveness.
Avian Brands’ commitment to IT development and utilization reflects its long-term vision to constantly innovate and maintain
its position as a leading player in the national paint industry.
IT Governance
Avian Brands consistently implements IT governance based on the ISO 27001 standard of the Information Security Management
System, to ensure comprehensive information protection and security. The IT Department annually conducts an annual
management review involving all parties related to Avian Brands’ IT management, with Top Management and Representative
Managers participating in the evaluations. In this management review the desired objectives related to IT management are
presented, such as Key Performance Indicators (“KPIs”), as well as the realization and sustainability of its future implementation.
One of the targets related to Avian Brands’ IT management is the security aspect, focusing on preventing operational disruptions
and protection from virus and malware attacks.
As an anticipatory measure against security threats, Avian Brands has formulated detailed mitigation procedures in accordance
with the requirements of ISO 27001. Some of the strategic measures implemented by Avian Brands are described as follows:
1. Access Control Management, where Avian Brands ensures IT access security by implementing encryption standardization,
conducting annual user access reviews, and managing super user access to maintain data confidentiality and integrity;
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2. Annual IT Internal Audit, where this regular audit works
to identify potential risks and ensure the conformity of
security procedures with established standards;
3. Business Continuity, where Avian Brands ensures
operational continuity through device redundancy,
maintenance, periodic monitoring of data centers, and
implementing technology that supports business continuity;
4. Disaster Recovery Plan (“DRP”), which serves as an
anticipatory measure for disasters or major disruptions,
prepared by Avian Brands by establishing a disaster recovery
center at Avian Innovation Center and preparing a recovery
plan to ensure that operations can return to normal as soon
as possible;
5. Backup and Data Restore, which becomes Avian Brands’
regular daily agenda to maintain data availability, followed
by a restore simulation to ensure data integrity and reliability;
and
6. Annual Disaster Simulation, where Avian Brands conducts
simulations of natural disasters and failover scenarios annually
to test system preparedness in emergencies.
These measures are part of the various mitigation procedures that Avian Brands has in place, in accordance with the ISO 27001
standard, designed to minimize the risk of disruption and ensure safe and reliable business continuity.
Information Security Management System
Avian Brands understands that information security is more than just a necessity, but also an essential foundation for
maintaining business sustainability and stakeholders’ confidence. Avian Brands realizes this commitment by implementing
the PT Avia Avian Tbk Information Security Management System Policy, which has been effective since July 1, 2024.
Based on this policy, Avian Brands constantly carries out a continuous improvement process of the information security
management system, by:
1. Maintaining data confidentiality, integrity, and availability by responsibly managing all information assets
(including personal data) and taking all precautions against unauthorized disclosure, loss, and corruption of data;
2. Taking corrective actions to handle and prevent information security incidents and ensuring continuous improvement of
the information security management system;
3. Improving employee competence by providing information security training, providing infrastructure, and raising
awareness of the value of responsible information asset management; and
4. Complying with applicable local, regional, and national laws and regulations related to information security.
Avian Brands constantly integrates this policy into its day-to-day business processes, ensuring that every operational activity
is underpinned by a reliable, transparent and secure system. In addition, this policy has also been communicated to all
levels of management to ensure that all employees are aware of in documenting, maintaining, implementing, periodically
reviewing, and providing information on the information security management system to related parties. These efforts not
only aim to protect Avian Brands’ information assets, but also to promote customer satisfaction, ensure excellent service
quality, and create added value for all stakeholders.
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IT Development in 2024
Ahead of the year 2024, Avian Brands was committed to further enhancing the role and contribution of IT in supporting all
operational and strategic aspects of Avian Brands. Amid increasingly fast and complex industry dynamics, IT development
becomes a key priority to ensure more efficient, accurate, and integrated business processes. Avian Brands believes that by
leveraging the latest IT innovations, Avian Brands can optimize data-driven decision-making, accelerate process automation,
and strengthen the reliability of its internal communication system. The IT development that Avian Brands successfully realized
throughout 2024 is described as follows:
1. Implementation of Warehouse Management System for Raw Materials (“WMS-RM”)
A warehouse management system that enables Avian Brands to effectively manage raw material stocks in the warehouse,
with advantages as described as follows:
a. Facilitating placement of raw materials in the warehouse using a racking system, allowing proper placement of items;
b. Facilitating retrieval of raw materials for production, eliminating errors in retrieval of items in shipments and allowing
fifo to be carried out properly; and
c. Improving employee performance and productivity, particularly those working in the warehouse. Items placed on
shelves and those to be retrieved from shelves can be efficiently accessed, thereby optimizing the processing time as
the system already provides suggested layouts for those items.
2. Regeneration of Warehouse and Plant Factory Infrastructure Installation
Modernizing through the incorporation of the latest IT solution with several advantages:
a. Utilizing data lines, telephones, and fiber optics to facilitate seamless communication and data flow. Using routers
to preemptively counteract virus spread and firewalls to regulate security, which ensures more accurate data
communication and well-maintained data security;
b. Centralizing CCTV systems which allows for centralized monitoring and maintenance. In case of disruptions, swift and
efficient solutions can be implemented, enhancing the security of goods and facilitating supervision; and
c. Minimizing downtime during maintenance activities and facilitating reconstruction in the event of location expansion
or development to increase storage capacity in the Warehouse or production capacity in the Plant.
3. Improvements to Sales Force Automation (“SFA”) Application
Improvements to the SFA application, a system supporting the sales team’s tasks, with several advantages:
a. Developing the application to effectively accommodate the latest technologies. Additionally, ensuring proper
compatibility with the latest hardware;
b. Accelerating incoming order processing speed;
c. Simplifying supervision and device control, as devices cannot be turned off during business hours; and
d. Implementing preventive measures to minimize or avoid fraud, such as log files or audit trails used for analysis and
monitoring of events.
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4. Development of HR Management System (“HRMS”) Application
Continuously innovating in human resource management is a crucial step for Avian Brands, as it aims to remain competitive
and efficient in the digital era. In this context, we have developed the Human Resource Management System (“HRMS”) -
a revolution in how we support and manage our team, with several advantages:
a. Paperless Operation, Improved Service Quality: d. Fast Data Processing: HRMS helps us quickly
HRMS enables our employees to handle all their process and present data in easily understandable
administrative needs on a digital and paperless report formats, thus helping us make decisions
basis, saving us from piles of physical documents, based on accurate data;
and improving the quality of service we provide to e. Better Information Distribution: We can easily
our team; distribute information to other departments or
b. Real-Time Reporting: We can access real-time directly to relevant employees, ensuring that
reports of all ongoing processes, thus giving us everyone has access to the information they need;
a clearer view of what happens in our team and f. Improving Team Performance: HRMS assists leaders
allowing us to make more timely decisions; and managers in monitoring and evaluating team
c. Documentation Efficiency: Documentation performance, providing insights into individual and
processes become easier and more efficient, collective achievements and areas for improvement.
allowing us to save valuable time and allocate more g. Improving Discipline: Integrating employee
resources to strategic activities; attendance data with automatic notifications
improves employee attendance, positively affecting
operational productivity and efficiency.
IT Development in 2025
Looking ahead to 2025, Avian Brands continues reinforcing its commitment to IT development as a key foundation for
fostering innovation and growth. With the ever-increasing pace of changes in the digital world, Avian Brands sees this year
as a strategic opportunity to expand and deepen IT use in all operations. Avian Brands’ main focus is on implementing
technology that not only improves efficiency and productivity, but also paves the way for a more comprehensive digital
transformation. Through sustainable IT development, Avian Brands is determined to cement its position as an industry
leader, while creating significant added value for all stakeholders. Several IT development plans that will be realized by
Avian Brands in 2025, are described as follows:
1. Vulnerability Management
Vulnerability Management is a process carried out by Avian Brands to analyze, identify, and classify the levels of risks of
system vulnerabilities, which allows Avian Brands to minimize the risks associated with information system vulnerabilities.
Avian Brands will implement the following measures related to Vulnerability Management:
a. Identifying all existing information assets, such as hardware, software, data, and networks, allowing Avian Brands to
assess and identify weaknesses in the system;
b. Categorizing vulnerabilities based on risk levels to determine response priorities;
c. Formulating a clear policy for vulnerability management, including procedures to report and address identified
vulnerabilities;
d. Conducting ongoing monitoring to detect new vulnerabilities, as well as reviewing and updating policies and
procedures as necessary;
e. Recording all findings, corrective actions, and policies for future reference; and
f. Conducting periodic penetration testing to test the system’s resistance to attacks.
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2. Backup System Management
In order to effectively manage all backup system activities within Avian Brands, Avian Brands deems it necessary to
conduct strict monitoring of the backup schedule, as well as continuous maintenance to ensure that each backup process
runs smoothly and successfully. A good Backup System Management not only serves as a data protection tool, but is
also a critical element in maintaining Avian Brands’ operational continuity. The benefits of implementing Backup System
Management are described as follows:
a. Maintaining backup data properly, to ensure complete data recovery in the event of data corruption or loss;
b. Faster recovery of damaged or lost data by minimizing factors of data loss; and
c. Maintaining a smooth process of Avian Brands’ operations to support the availability of the required data.
3. User Awareness of Cyber Threats
Avian Brands is committed to raising user awareness as a vital part of information system security in order to respond
to the increasing cyber threats. The program will focus on continuous education and implementation of stricter safety
procedures. By raising awareness among all employees, Avian Brands aims to build a strong cybersecurity culture to
minimize the risk of attacks and protect the integrity of Avian Brands’ data. The benefits related to increasing employees’
user awareness are described as follows:
a. Employees are more aware of cyber threats, such as phishing, malware, and ransomware, and are more cautious in
their online activities, thereby reducing their chances of falling victim to a cyberattack;
b. Trained employees can recognize and report threats faster, enabling a more effective response to mitigate the impact
of an attack;
c. Companies with effective cybersecurity awareness programs can build confidence among their customers and
business partners, thereby reinforcing their reputation as security-conscious entities; and
d. Raising employee awareness will help create a strong security culture within Avian Brands, where every employee
feels responsible for protecting Avian Brands’ assets and data.
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Management
Discussion
and Analysis
“Amidst the economic and business dynamics
unfolding throughout 2024, Avian Brands
has successfully maintained its position in
the national paint industry through effective
implementation of various strategic measures.
More extensive marketing and strengthening of
brand image helped improve operational and
financial performance. This achievement not
only reinforces Avian Brands’ market position,
but also enables Avian Brands to continue
delivering added value to stakeholders,
including through continuous distribution of
dividends to Shareholders.”
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MANAGEMENT DISCUSSION AND ANALYSIS Economic Overview The year 2024 was a challenging time for the global economy. Following a solid growth in 2023, the global economy witnessed certain dynamics, caused by tightening monetary policies in many countries, financial market volatility, and persistent geopolitical tensions. The International Monetary Fund (“IMF”) in its World Economic Outlook has noted that the global economy was projected to grow by 3.2% in 2024, lower than the 3.3% growth in 2023. This downturn was attributed to continued restrictive monetary policies in advanced economies as well as the increasing fragmentation of global trade which triggered economic uncertainty. In the trade sector, the growing global economic fragmentation, protectionism, and geopolitical tensions have further impeded trade flows and disrupted international supply chains, particularly for Emerging Market Economies (“EMEs”). The shift from multilateral trading systems towards more limited bilateral agreements, along with potentially heavy tariffs imposed by the United States, has only heightened uncertainty in the global economy. Nonetheless, global inflation was projected to show a downward trend from 6.2% in 2023 to 5.2% in 2024, due to lessening of pressures on global supply chains as well as more disciplined monetary policy. Meanwhile, Indonesia continued to exhibit favorable economic resilience. Based on a report by the Statistics Indonesia (Badan Pusat Statistik), the Indonesian economy grew by 5.03% in 2024, slightly lower than the 5.05% in 2023. In terms of business sectors, the construction sector recorded the highest growth at 7.02%, followed by the other sectors at 6.30%, and the mining and quarrying sector at 4.90%. In terms of expenditure, the highest growth was recorded by consumption of Non-Profit Institutions Serving Households (Lembaga Non-Profit yang Melayani Rumah Tangga or “LNPRT”) at 12.48%, government consumption at 6.61%, and household consumption at 4.94%. Meanwhile, exports of goods and services grew by 6.51% in 2024. In terms of financial sector, Rupiah exchange rate remained stable despite external pressures, with sufficient foreign exchange reserves to sustain economic stability. Source: • World Economic Outlook October 2024 edition, International Monetary Fund; • The 2024 Indonesian Economic Report, Bank Indonesia; and • Official Statistics News (Berita Resmi Statistik), Statistics Indonesia (Badan Pusat Statistik). Industry Overview In parallel with the national economic resilience, domestic paint industry continued to demonstrate steady growth in 2024, backed by strong demand from the construction, property, and manufacturing sectors. Data from the Indonesian Paint Manufacturers Association (Asosiasi Produsen Cat Indonesia or “APCI”) revealed that total paint consumption in Indonesia reached 1.3 million metric tons, with per capita consumption averaging approximately 4.5 kg. While this suggests a vast market potential, Indonesia’s per capita consumption is still lower than that of its neighbors, such as Thailand and Malaysia at 8 kg and 12 kg per capita, respectively. Moreover, the trend of opting for environmentally friendly paints with low-emission, water-based technologies is becoming increasingly popular, in line with the growing awareness of sustainability. Despite positive outlook for the paint and chemical industry, the main challenges lie in the fluctuation of raw material prices, particularly resin, pigments, and solvents, which are largely imported. Additionally, global trade fragmentation and protectionist policies from several raw material-supplying countries may impact supply chain stability. However, growth opportunities remain open with innovations in water-based paint technology, heat-resistant coatings, and anti-pollution paints, which are increasingly in demand. Furthermore, government regulations promoting the use of environmentally friendly chemicals and products with higher domestic content offer advantages for manufacturers to innovate. Source: • The 2024 Indonesian Economic Report, Bank Indonesia; and • Data from Indonesian Paint Manufacturers Association (Asosiasi Produsen Cat Indonesia or “APCI”) cited by Kompas.com. 96
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Operational Overview
Operational Overview by Operating Segments
Avian Brands classifies its operating segments with reference to the Statements of Financial Accounting Standards
(Pernyataan Standar Akuntansi Keuangan or “PSAK”) 5 on Operating Segments as stated in the Consolidated Financial
Statements of PT Avia Avian Tbk and its Subsidiaries for the financial years ended December 31, 2024 and 2023 audited by
Public Accounting Firm Teramihardja, Pradhono & Chandra (a member firm of Crowe global) in Note No. 35 on Segment
Information. Based on the above, Avian Brands’ operating segments are divided into 2 segments, namely the architectural
solutions segment and the trading goods segment.
In the Consolidated Financial Statements of PT Avia Avian Tbk and its Subsidiaries, operating segment reporting is used by the
management to evaluate operating performance and make strategic decisions. Each segment is reported separately to provide
clear and transparent information about each segment’s contribution to the overall financial performance of Avian Brands.
Information regarding the performance of both operating segments is described as follows:
Architectural Solutions Segment
Architectural Solutions Segment is our operating segment that focuses on manufacturing, distributing, and trading wall paints,
wood and metal paints, waterproofing, wood treatments, glues, roofing paints, and instant cement products. Most products in
this operating segment are also commonly referred to as decorative paints. In the architectural solutions segment, we play a
role as a manufacturer that produces various product variants. Meanwhile, the distribution process of these products to retail
stores is performed by PT Tirtakencana Tatawarna and third-party distributors.
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MANAGEMENT DISCUSSION AND ANALYSIS
Profitability and Contribution of Architectural Solutions Segments
(in millions Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2024 2023 Nominal Percentage
(Million IDR) (%)
Net Revenues 5,847,703 5,618,025 229,678 4.09
Cost of Goods Sold (2,852,891) (2,686,054) (166,837) 6.21
Gross Profit 2,994,812 2,931,971 62,841 2.14
The net revenues of architecture solution segment in 2024 reached IDR5,847.70 billion, an increase of 4.09% compared to
IDR5,618.03 billion in 2023. Meanwhile, the cost of goods sold recorded by the architectural solutions segment in 2024 reached
IDR2,852.89 billion, an increase of 6.21% compared to IDR2,686.05 billion in 2023. Thus, the gross profit of the architectural
solutions segment in 2024 increased by 2.14% to IDR2,994.81 billion from IDR2,931.97 billion in 2023.
Trading Goods Segment
Trading Goods Segment is our operating segment that focuses on distributing and selling pipes, furniture, and supporting
products that are required in painting processes, such as paint rollers, paint brushes, tapes, and sandpapers. In the trading
goods segment, the manufacturing process is performed by other companies outside Avian Brands. However, the sales
and distribution process of these products are conducted by PT Tirtakencana Tatawarna and third-party distributors.
This segment proved to share strong synergies with the architectural solutions segment, as 84.27% of our architectural
solutions segment customers also sell our trading goods products.
Profitability and Contribution of Trading Goods Segments
(in millions Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2024 2023 Nominal Percentage
(Million IDR) (%)
Net Revenues 1,623,653 1,398,857 224,796 16.07
Cost of Goods Sold (1,277,715) (1,147,492) 130,223 11.35
Gross Profit 345,938 251,365 94,573 37.62
The net revenues of trading goods segment in 2024 reached IDR1,623.65 billion, an increase of 16.07% compared to
IDR1,398.86 billion in 2023. Meanwhile, the cost of goods sold recorded by the trading goods segment in 2024 reached
IDR1,277.72 billion, an increase of 11.35% compared to IDR1,147.49 billion in 2023. Thus, the gross profit of trading goods
segment in 2024 increased by 37.62% to IDR345.94 billion from IDR251.37 billion in 2023.
Paint Manufacture Performance
Paint is Avian Brands’ primary product, produced in its two manufacturing facilities. Avian Brands remains committed to
consistently delivering the highest quality paint as part of its dedication to customer satisfaction. Moreover, the presence
of skilled workers, supported by advanced machinery and technology, enables Avian Brands to continuously innovate in
developing sustainable and cutting-edge paint products. This enables Avian Brands to not only meet the growing market
demand, but also maintain high standards of quality and consistency expected by customers.
Through its innovations, Avian Brands brand continues to deliver excellent, industry-leading products. Investments in research
and development have resulted in improved paint formulas that are more environmentally friendly and last longer, all of
which have been well received by the market. With focused strategies and rigorous execution, Avian Brands is confident in
maintaining and even improving its paint manufacturing performance in the future and strengthening its position as the
leader in the national paint industry.
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Paint Manufacturing Process Flow
SILO RESIN
RESIN REACTOR
GRINDING
MACHINE
HIGH SPEED SILO
DISPRESER POWDER
COLOUR
MATCHING
QUALITY
CONTROL
CAN MAKING
MACHINE
FILLING AND
PACKING
WAREHOUSE DISTRIBUTION
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MANAGEMENT DISCUSSION AND ANALYSIS
Avian Brands’ paint manufacturing process involves using raw materials purchased from external parties and raw materials
produced in-house by Avian Brands. Among the raw materials produced in-house by Avian Brands are resins and pigments.
Avian Brands also produces calcium raw materials, through its sister company, PT Panca Kalsiumindo Perkasa.
Avian Brands’ paint manufacturing process begins with the processing of the base material in the resin reactor, in which
resin is processed into the main components of paint. The processed resin is then stored in resin silos, while other powdered
materials are stored in powder silos. The next process involves mixing the resin and powder using a high-speed dispenser
machine (“HSD”) to produce a homogeneous mixture of based paint in accordance with the specified paint formula.
Meanwhile, the pigments are processed using grinding machines to achieve smooth and uniform texture, which results in paste.
Next comes the mixing of primer and paste through the mixing process to achieve the desired paint and color specifications.
The mixed product then undergoes testing in the quality control laboratory to ensure that all standards and quality parameters
are met. This is followed by a color-matching process to ensure that the paint color aligns with the predetermined specifications.
Once all quality and color criteria are fulfilled, the paint is packaged using can-making machines. At this stage, Avian Brands
also ensures that the packaging is always neat and secure, in line with the specifications. Each can is labeled with product
information, including the paint code, color, and batch number. Additionally, details regarding product health and safety,
as well as its environmental impacts, are also provided. Once the filling and packaging processes are complete, the products
are sealed and prepared for storage in the warehouse. Finished products are then stored before distribution.
The distribution process is carried out using Avian Brands’ fleet of vehicles, ensuring that high-quality paint products reach
various sales points safely and on time. With a structured and integrated production flow, Avian Brands ensures that every paint
product meets the needs and expectations of its customers.
With a skilled and experienced production team, Avian Brands has been able to optimize every stage of production, from the
selection of quality raw materials to meticulous final packaging. In addition, effective implementation of efficiency programs
successfully lowered production costs without compromising on quality, which consequently improves the profitability and
competitiveness of Avian Brands’ paint products in the market.
Paint Manufacturing Realization
We have 2 manufacturing facilities located in Sidoarjo and Serang with respective production capacity of 213,840 and
72,576 metric tons per year. Information regarding the total paint production from both manufacturing facilities over the past
2 years is described as follows:
2024 2023 Increase (Decrease)
Description Contribution Contribution
Metric Tons Metric Tons Metric Tons %
(%) (%)
Sidoarjo Plant 137,950 69.91 130,325 72.19 7,625 5.85
Serang Plant 59,389 30.09 50,215 27.81 9,174 18.27
Total Production 197,339 100.00 180,540 100.00 16,799 9.30
30.09% 27.81%
2024 2023
69.91% 72.19%
Sidoarjo Plant Serang Plant Sidoarjo Plant Serang Plant
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Throughout 2024, Avian Brands successfully realized paint production of 197,339 metric tons, an increase of 9.30% compared
to 180,540 metric tons in 2023. This was mainly due to the increase in production at Sidoarjo Plant by 7,625 metric tons or
5.85%, and at Serang Plant by 9,174 metric tons or 18.27%.
Innovation and Development of Paint Production Process
In 2024, Avian Brands’ innovations and advancements in production processes focused on sustainability, aiming to enhance
efficiency that significantly reduces energy consumption.
In paint manufacturing, Avian Brands expanded its production capacity by establishing a new facility equipped with
cutting-edge technology, enabling energy savings of up to 50%. Avian Brands has optimized its mixer operations by
adjusting the HSD for mill base production, resulting in shorter cycle time per batch and increased paint output per shift.
In resin production, Avian Brands successfully reduced the production cycle from the previous 12 hours per batch to just
8–10 hours. This is made possible through optimization of processes and machinery, shortening the cycles in cooling,
treatment, and other stages.
Additionally, efficiency enhancements in can packaging production have led to a productivity increase of 11.55%,
from 741 Pcs/Manhours to 826 Pcs/Manhours. Other improvements that have been made to the manufacturing process
include:
1. Automating the rubbing process of component materials;
2. Reducing the downtime setup of moulding machines through the methods of setting and spare of the moulding machines
(with increased machine availability from 80.87% to 83.93% in 2024); and
3. Automating the process of adding latex sidestep in the manual assembly line.
The can packaging manufacturing also managed to optimize the use of gas energy in the printing process from 14.10 m3/ton
to 9.70 m3/ton. Furthermore, in terms of energy saving, Avian Brands has succeeded in reducing the ratio of electrical energy
consumption for compressors from 9.23 KWH/ton to 4.53 KWH/ton through zoning and looping systems.
Profitability
Profitability ratio is one of the indicators used to measure the financial performance of Avian Brands. This ratio indicates
Avian Brands’ ability to generate profit from operating activities as well as the effectiveness of management in managing
available resources. A higher profitability ratio value indicates a better ability of Avian Brands to generate profit. Information
regarding Avian Brands’ profitability level for the last 2 years is described as follows:
(in %)
Description 2024 2023
Consolidated Profit Before Income Tax Expense to Consolidated Net Revenues 27.69 28.39
Consolidated Profit Before Income Tax Expense to Consolidated Total Assets 18.70 17.84
Consolidated Profit Before Income Tax Expense to Consolidated Total Equity 21.48 20.08
Consolidated Profit for the Year to Consolidated Net Revenues 22.27 23.42
Consolidated Profit for the Year to Consolidated Total Assets 15.04 14.71
Consolidated Profit for the Year to Consolidated Total Equity 17.27 16.56
Avian Brands measures its profitability ratio by comparing profit before income tax expense and profit for the year with net
revenues, total assets, and total equity. In 2024, Avian Brands profitability ratio mostly showed a decrease compared to 2023.
This was influenced by the decrease in gross profit margin due to the increase in contribution of trading goods segment
and the increase in the use of promotional goods or below-the-line marketing expenses (“BTL”). This increase in promotion is
part of the Company’s growth strategy, particularly in the midst of challenging market conditions and intense competition.
The Company remains committed to ensuring a balance between market expansion and sustainable profitability.
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Marketing and Distribution Aspect
The marketing aspect is a crucial element in Avian Brands’ business strategy to achieve growth and boost competitiveness
amidst increasingly intense industry competition. Through an integrated and innovative marketing approach, Avian Brands
seeks to better understand customer needs and preferences as well as to create products and services with added value.
Beyond increasing sales, Avian Brands’ marketing strategy also focuses on establishing and maintaining long-term relationships
with customers.
In pursuit of this objective, Avian Brands implements a marketing strategy that is broadly categorized into 2 approaches,
namely marketing with loyalty programs (below-the-line marketing or “BTL”) and marketing via advertising media
(above-the-line marketing or “ATL”) that focuses on the use of mass media to reach a wider target audience. Information on
the two strategies is further described as follows:
BTL Marketing Strategy
1 Targeting retail shops, i.e. traditional building material stores and modern outlet to distribute
Avian Brands’ products to end customers, through offering reward schemes such as gold coins,
loyalty points that are redeemable into vouchers, retail shop discounts, and other forms of
rewards;
2 Convening retailer in-store events for new product launches;
3 Implementing loyalty programs for handymen, in which the handymen or buyers may redeem
coupons inside the paint cans with e-money, such as OVO, Gopay, etc. by scanning the barcode
on the coupons using their mobile device. In doing so, Avian Brands collaborates with retail stores,
where the handymen or customer can ask the store for help to scan the coupons and receive the
money in cash. In return, stores will be given incentives in the form of digital currency;
4 Increasing customer loyalty through Avian Brands Priority Customers program, through which
stores that prioritize the sale of a certain amount of Avian Brands’ products receive additional
incentives and better service;
5 Providing additional incentives to store employees, particularly to those who manage to sell
previously unsold products, including tinting products. This measure aims to motivate the sales
force to expand product distribution; and
6 Organizing employee gathering programs for store employees as the front liners of the sales
force. The program includes product training, proper product application, and introduction to
related programs. At the gathering event, store employees can also give testimonials about
the success or incentives they have received for implementing the programs in points 4 and 5,
in order to motivate other colleagues.
ATL Marketing Strategy
1 Advertising on television, print, and radio;
2 Implementing in-store programs consisting of display and signage, store decoration, product
categorization, and appointing product consultants to act as brand ambassadors;
3 Implementing out-of-store programs consisting of brand launches and product trainings to specific
customer groups; and
4 Building partnerships with famous artists as brand ambassadors, especially for premium products.
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Avian Brands also leverages digital technology and social Furthermore, Avian Brands is committed to steadily
media to reach a broader market and enhance customer expanding its distribution network to support the one
engagement, through platforms such as Google, YouTube, day delivery and express delivery services. By the end of
LinkedIn, Facebook, Instagram, TikTok, and Avian Brands 2024, Avian Brands’ distribution networks had expanded
official website. By optimizing search engines on Google to cover the entire Indonesian territory, spanning 34
and sharing informative video content on YouTube, provinces and 98 cities, consisting of 124 distribution
Avian Brands enhances brand visibility and awareness. centers and 15 wholly-owned mini-distribution centers,
LinkedIn is utilized to establish professional connections, as well as cooperation with 38 third-party distribution
while Facebook and Instagram target a wider audience centers located in several cities. With this expanded
with visually engaging and interactive campaigns. TikTok, distribution network, 91% of one day delivery target was
with its younger demographic, enables creative marketing achieved in 2024. Meanwhile, Avian Brands also continues
messaging. Meanwhile, the official website serves as to improve its express delivery service that has been
a comprehensive information hub, providing product introduced, guaranteeing delivery of customer orders
details, the latest news, and responsive customer service to within 2 hours, particularly for newly launched products,
ensure customer needs and expectations are met. which eliminates the need for customers to store inventory
in their warehouses.
This strategy is further strengthened by the presence
of product consultants appointed and stationed This strategy allows Avian Brands to reach customers
by Avian Brands at retail outlets. The consultants actively more efficiently and quickly while ensuring that products
promote products and address inquiries regarding Avian reach customers in a timely manner. This not only increase
Brands’ offerings from customers visiting the outlets. customer satisfaction but also strengthen Avian Brands’
As of the end of 2024, Avian Brands has had more than competitive edge in the market.
1,600 product consultants in Avian Brands’ sales team.
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Market Share
Market share is an indicator that measures the percentage of Avian Brands’ total product sales within the national paint industry.
Assessing and understanding market share provides an objective overview of Avian Brands’ competitive position, as well as
its ability to attract customers compared to competitors. As of the end of 2024, based on internal management estimation
Avian Brands has secured a 24% share of the national paint market, reaffirming its position as the industry leader. This success is
made possible by an extensive and solid distribution network, reaching over 58,400 building material stores across Indonesia.
Through strategic partnerships with these retailers, Avian Brands ensures that high-quality paint products are available in
various regions, catering to customer needs from Sabang to Merauke.
Moreover, Avian Brands is also a trusted paint supplier for numerous contractors involved in various projects, from residential to
commercial and industrial developments. This trust reflects the quality and consistency of Avian Brands’ products, as well as its
commitment to supporting sustainable infrastructure development in Indonesia. With a strong market share and an expansive
distribution network, Avian Brands continues to innovate and enhance market penetration, ensuring that its products remain
the top choice for customers and professionals in the construction industry.
Financial Overview
This financial overview is prepared based on information derived from PT Avia Avian Tbk and Subsidiaries’ Consolidated Financial
Statements for the financial year ended December 31, 2024 and 2023 audited by Public Accounting Firm of Teramihardja,
Pradhono & Chandra (a member firm of Crowe global).
Consolidated Statement of Financial Position
Assets
(in millions Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2024 2023* Nominal Percentage
(Million IDR) (%)
Current Assets
Cash and Cash Equivalents 2,329,491 1,230,544 1,098,947 89.31
Restricted Cash in Bank and Time Deposits 3,000 2,100 900 42.86
Investments 2,952,900 4,754,087 (1,801,187) (37.89)
Trade Receivables
Related Parties 16,319 14,018 2,301 16.41
Third Parties 1,445,418 1,229,025 216,393 17.61
Other Receivables
Related Parties 83,283 56,538 26,745 47.30
Third Parties 45,420 49,331 (3,911) (7.93)
Inventories 1,558,203 1,519,549 38,654 2.54
Right of Return Assets 19,333 16,426 2,907 17.70
Advance to Suppliers 5,791 7,734 (1,943) (25.12)
Prepaid Expenses 14,456 11,381 3,075 27.02
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(in millions Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2024 2023* Nominal Percentage
(Million IDR) (%)
Prepaid Taxes 19,748 20,069 (321) (1.60)
Total Current Assets 8,493,362 8,910,802 (417,440) (4.68)
Non-Current Assets
Investment Properties 290,510 290,113 397 0.14
Fixed Assets – Net 1,930,297 1,659,163 271,134 16.34
Right-of-Use Assets 180,949 150,551 30,398 20.19
Intangible Assets 28,734 25,808 2,926 11.34
Investment in Joint Venture 19,976 17,298 2,678 15.48
Deferred Tax Assets 36,144 43,878 (7,734) (17.63)
Estimated Claims for Income Tax Refund 29,432 29,432 0 0
Other Non-Current Assets 51,571 39,942 11,629 29.11
Total Non-Current Assets 2,567,613 2,256,185 311,428 13.80
Total Assets 11,060,975 11,166,987 (106,012) (0.95)
* Data reclassified.
Total Assets
Avian Brands’ total assets in 2024 reached IDR11,060.97 billion, a decrease of 0.95% compared to IDR11,166.99 billion in 2023.
This was mainly influenced by the decrease in total current assets.
Total Current Assets
Avian Brands’ total current assets in 2024 reached IDR8,493.36 billion, a decrease of 4.68% compared to IDR8,910.80 billion in
2023. This was mainly influenced by the decrease in short-term investments and investments in government bonds.
Total Non-Current Assets
Avian Brands’ total non-current assets in 2024 reached IDR2,567.61 billion, an increase of 13.80% compared to IDR2,256.19
billion in 2023. This was mainly influenced by increase in fixed assets, net, right-of-use assets, and other non-current assets.
Liabilities
(in millions Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2024 2023 Nominal Percentage
(Million IDR) (%)
Current Liabilities
Short-term Bank Loans 9,189 5,222 3,967 75.97
Trade Payables
Related Parties 362,941 279,321 83,620 29.94
Third Parties 424,760 371,337 53,423 14.39
Other Payables
Related Parties 487 121 366 302.48
Third Parties 24,136 30,450 (6,314) (20.74)
Unearned Revenue
Related Parties 1,611 1,802 (191) (10.60)
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(in millions Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2024 2023 Nominal Percentage
(Million IDR) (%)
Third Parties 599 362 237 65.47
Accrued Expenses 252,661 301,835 (49,174) (16.29)
Short-term Employee Benefits 108,618 97,052 11,566 11.92
Taxes Payables 72,123 52,584 19,539 37.16
Customer Guarantee 3,000 2,100 900 42.86
Provision for Sales Return 26,683 21,979 4,704 21.40
Lease Liabilities – Current Portion 64,777 10,965 53,812 490.76
Total Current Liabilities 1,351,585 1,175,130 176,455 15.02
Non-Current Liabilities
Lease Liabilities – Non-Current Portion 19,416 15,725 3,691 23.47
Employee Benefit Liabilities 58,094 54,643 3,451 6.32
Total Non-Current Liabilities 77,510 70,368 7,142 10.15
Total Liabilities 1,429,095 1,245,498 183,597 14.74
Total Liabilities
Avian Brands’ total liabilities in 2024 reached IDR1,429.10 billion, an increase of 14.74% compared to IDR1,245.50 billion in
2023. This was mainly influenced by the increase in total current liabilities and total non-current liabilities.
Total Current Liabilities
Avian Brands’ total current liabilities in 2024 reached IDR1,351.59 billion, an increase of 15.02% compared to IDR1,175.13 billion
in 2023. This was mainly influenced by increase in trade payables, both of related parties and third parties, as well as lease
liabilities current portion, and taxes payables.
Total Non-Current Liabilities
Avian Brands’ total non-current liabilities in 2024 reached IDR77.51 billion, an increase of 10.15% compared to IDR70.37 billion
in 2023. This was mainly influenced by increase in employee benefit liabilities, as well as in lease liabilities, non-current portion.
Equity
(in millions Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2024 2023 Nominal Percentage
(Million IDR) (%)
Equity Attributable to the Owners of the Parent
Share Capital 619,536 619,536 0 0
Additional Paid-in Capital 7,793,218 7,793,218 0 0
Treasury Shares (574,552) (16,369) 558,183 3,410.00
Revaluation Surplus of Fixed Assets 229,406 229,406 0 0
Share of Other Comprehensive Income of
85 85 0 0
Joint Venture
Changes in Fair Value of Investment in
(103,357) (56,408) 46,949 83.23
Government Bonds
Remeasurement Gain on Employee Benefit
9,880 9,921 (41) (0.41)
Liabilities
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(in millions Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2024 2023 Nominal Percentage
(Million IDR) (%)
Retained Earnings
Appropriated 124,000 124,000 0 0
Unappropriated 1,527,177 1,210,978 316,199 26.11
Sub-Total 9,625,393 9,914,367 (288,974) (2.91)
Non-Controlling Interests 6,487 7,122 (635) (8.92)
Total Equity 9,631,880 9,921,489 (289,609) (2.92)
Avian Brands’ total equity in 2024 reached IDR9,631.88 billion, a decrease of 2.92% compared to IDR9,921.49 billion in 2023.
This was mainly influenced by increase in the treasury shares.
Consolidated Statement of Profit or Loss and Other Comprehensive Income
(in millions Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2024 2023 Nominal Percentage
(Million IDR) (%)
Net Revenues 7,471,356 7,016,882 454,474 6.48
Cost of Goods Sold (4,130,606) (3,833,546) 297,060 7.75
Gross Profit 3,340,750 3,183,336 157,414 4.94
Operating Expenses
Selling Expenses (1,318,417) (1,240,237) 78,180 6.30
General and Administrative Expenses (253,243) (226,090) 27,153 12.01
Total Operating Expenses (1,571,660) (1,466,327) 105,333 7.18
Operating Profit 1,769,090 1,717,009 52,081 3.03
Other Income (Expenses)
Finance Income 285,105 286,259 (1,154) (0.40)
Finance Charges (2,539) (4,077) (1,538) (37.72)
Share of Net Profit of a Joint Venture 2,678 898 1,780 198.22
Other Income (Expenses) – Net 14,260 (7,946) 22,206 279.46
Profit Before Income Tax Expense 2,068,594 1,992,143 76,451 3.84
Income Tax Expense (404,895) (349,047) 55,848 16.00
Profit for the Year 1,663,699 1,643,096 20,603 1.25
Other Comprehensive Income (Loss) (46,983) 81,403 (128,386) (157.72)
Total Comprehensive Income for the Year 1,616,716 1,724,499 (107,783) (6.25)
Profit for the Year Attributable to:
Equity Holders of the Parent Company 1,664,341 1,642,166 22,175 1.35
Non-Controlling Interests (642) 930 (1,572) (169.03)
Total Comprehensive Income for the Year Attributable to:
Equity Holders of the Parent Company 1,617,351 1,723,608 (106,257) (6.16)
Non-Controlling Interests (635) 891 (1,526) (171.27)
Basic and Diluted Earnings per Share Attributable to
the Equity Holders of the Parent Company 27.16 26.51 0.65 2.45
(Full Rupiah)
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Net Revenues
Avian Brands’ net revenues in 2024 reached IDR7,471.36 billion, an increase of 6.48% compared to IDR7,016.88 billion in 2023.
This was mainly influenced by the increase in net revenues, both in the architectural solutions segment and in the trading
goods segment.
Cost of Goods Sold
Avian Brands’ cost of goods sold in 2024 reached IDR4,130.61 billion, an increase of 7.75% compared to IDR3,833.55 billion
in 2023. This was mainly influenced by the increase in purchases of finished goods for the trading goods segment, as well as
the increase in promotional expenses in line with the increase in promotional activities in response to economic challenges.
Gross Profit
Avian Brands’ gross profit in 2024 reached IDR3,340.75 billion, an increase of 4.94% compared to IDR3,183.34 billion in 2023.
This was mainly influenced by the increase in net revenues.
Profit Before Income Tax Expense
Avian Brands’ profit before income tax expense in 2024 reached IDR2,068.59 billion, an increase of 3.84% compared to
IDR1,992.14 billion in 2023. This was mainly influenced by the increase in gross profit.
Profit for the Year
Avian Brands’ profit for the year in 2024 reached IDR1,663.70 billion, an increase of 1.25% compared to IDR1,643.10 billion
in 2023. This was mainly influenced by the increase in business profit and other income.
Other Comprehensive Income (Loss)
Avian Brands’ total other comprehensive loss in 2024 reached IDR46.98 billion, a decrease of 157.72% compared to 2023
which recorded other comprehensive income of IDR81.40 billion. This was mainly influenced by the decrease in changes in fair
value of investment in government bonds.
Total Comprehensive Income for the Year
Avian Brands’ total comprehensive income for the year in 2024 reached IDR1,616.72 billion, a decrease of 6.25% compared to
IDR1,724.50 billion in 2023. This was mainly influenced by the decrease in other comprehensive income net of tax
Consolidated Statement of Cash Flows
(in millions Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2024 2023* Nominal Percentage
(Million IDR) (%)
Net Cash Provided by Operating Activities 1,766,128 1,640,834 125,294 7.64
Net Cash Provided by (Used in) Investing Activities 1,262,474 (1,138,195) (2,400,669) (210.92)
Net Cash Used in Financing Activities (1,933,622) (1,440,808) 492,814 34.20
Net Increase (Decrease) in Cash and Cash Equivalents 1,094,980 (938,169) 2,033,149 216.71
Cash and Cash Equivalents and Bank Overdraft
1,225,322 2,163,491 (938,169) (43.36)
at the Beginning of the Year
Cash and Cash Equivalents and Bank Overdraft
2,320,302 1,225,322 1,094,980 89.36
at End of Year
* Data reclassified.
Net Cash Generated from Operating Activities
Net cash generated by Avian Brands from operations in 2024 reached IDR1,766.13 billion, an increase of 7.64% compared to
IDR1,640.83 billion in 2023. This was mainly influenced by the increase in cash received from customers.
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Net Cash Provided from/(Used for) Investing Activities
Net cash generated by Avian Brands from investments in 2024 reached IDR1,262.47 billion, an increase of 210.92% compared
to in 2023 which used net cash for investment activities of IDR1.138,20 billion. This was mainly influenced by the increase in
receipts from short-term investments.
Net Cash Used in Financing Activities
Net cash used by Avian Brands in financing activities in 2024 reached IDR1,933.62 billion, an increase of 34.20% compared
to IDR1,440.81 billion in 2023. This was mainly influenced by the increase in the payments of cash dividends and
acquisition of treasury shares.
Solvency
Avian Brands always emphasizes the fulfillment of obligations to creditors and suppliers through timely repayment of maturing
debts, in order to maintain good relations. In addition, solvency of Avian Brands also reflects its financial health and operational
stability. Avian Brands employs a strategic approach in measuring its ability to repay its debts by measuring its liquidity ratios
and solvency ratios. These ratios provide a comprehensive view of Avian Brands’ liquidity and solvency position and indicate
whether it has sufficient assets to cover its current and non-current liabilities.
Information regarding the performance of these ratios for the last 2 years is described below:
(in X)
Description 2024 2023
Liquidity Ratio
Consolidated Total Current Assets to Consolidated Total Current Liabilities 6.28 7.58
Solvency Ratio
Consolidated Total Non-Current Liabilities to Consolidated Total Equity 0.01 0.01
Consolidated Total Liabilities to Consolidated Total Equity 0.15 0.13
Consolidated Total Liabilities to Consolidated Total Assets 0.13 0.11
Liquidity Ratio
The liquidity ratio is used to measure Avian Brands’ ability to meet its current liabilities. This ratio gives an idea of how swiftly
current assets can be converted into cash to meet these liabilities. Higher liquidity ratios indicate that Avian Brands has a
strong financial position and is able to meet its maturing current liabilities without experiencing difficulties in liquidity.
Avian Brands uses the indicator of current ratio by comparing current assets to current liabilities to measure the liquidity ratio.
In 2024, Avian Brands’ current ratio increased to 6.28X compared to 7.58X in 2023. This was mainly influenced by the decrease
in current assets.
Solvency Ratio
The solvency ratio is used to measure Avian Brands’ ability to meet all liabilities, both current and non-current.
This ratio indicates the overall financial health of Avian Brands and its ability to meet all financial liabilities. High solvency ratio
indicates that Avian Brands has sufficient assets to cover all debts, reflecting financial stability.
In 2024, Avian Brands’ solvency ratios, measured through comparison of total non-current liabilities to total equity,
total liabilities to total equity, and total liabilities to total assets, showed relatively stable result in each comparison.
However, there was an increase in the ratio of total liabilities to total equity and total liabilities to total assets, bringing the
ratios to 0.01X, 0.15X, and 0.13X compared to 0.01X, 0.13X, and 0.11X in 2023. This was mainly influenced by increase in total
liabilities.
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Collectability of Account Receivables
The collectability of account receivables is a key indicator in evaluating the effectiveness and efficiency of Avian Brands’
financial management. This indicator provides an overview of Avian Brands’ ability to manage and optimize net revenues
into actual cash receipts. By adopting approaches such as accounts receivable turnover ratio and average collection period,
Avian Brands is able to systematically monitor and analyze how receivables are managed and converted into cash, which
ultimately affects overall liquidity and financial stability.
The accounts receivable turnover ratio is measured by dividing net revenues by the balance of accounts receivable.
This approach illustrates how frequently trade receivables turn over in a given year and reflects the liquidity and effectiveness
of Avian Brands’ receivables management. Meanwhile, Avian Brands’ average collection period is measured by calculating the
average time it takes to collect payments from customers after a sale, by dividing trade receivables by net revenues per day,
calculated from total net revenues in a year divided by 365 days. This method helps identify effective collection patterns and
enables Avian Brands to promptly respond to changes in customer payments.
Information regarding the collectability of account receivables of Avian Brands for the last 2 years is described as follows:
Description 2024 2023*
Receivables Turnover Ratio (X) 5.52 6.06
Average Collection Period (days) 66 60
* Data restated.
In 2024, the collectability of accounts receivable of Avian Brands, based on the accounts receivable turnover ratio was recorded
at 5.52X, a decrease compared to 6.06X in 2023. Meanwhile, the average collection period of Avian Brands’ receivables increased
to 66 days, compared to 60 days in 2023. This was mainly influenced by increase in trade receivables.
Capital Structure
Policy and Basis for Determining Capital Structure
The policy and basis for determining Avian Brands’ capital structure aims to ensure that Avian Brands maintains healthy and
optimal capital ratios to support sustainable business growth and operations. To this end, Avian Brands management actively
manages and adjusts its capital structure based on changing economic conditions and market dynamics.
Capital structure management involves various strategic measures, including adjusting dividend payments to Shareholders
to maintain a balance between profit distribution and internal capital requirements. Moreover, Avian Brands also takes into
consideration the establishment of reserve funds to mitigate potential risks in the future as well as to support strategic
investments that can enhance the company’s value. Adjustments to the capital structure may also be made through issuing
new shares to increase equity and strengthen the capital base, or by seeking funding through loans to capitalize on investment
opportunities more quickly. In making these decisions, Avian Brands management constantly considers the cost of capital and
associated risks with the primary objective of maintaining an optimal balance between debt and equity.
By implementing comprehensive capital structure policies and basis, Avian Brands is committed to maintaining financial
stability, enhancing investor confidence, and ensuring the ability to overcome economic challenges and capitalize on future
growth opportunities.
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Capital Structure
Information regarding our capital structure over the past 2 years is described below:
(in millions Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2024 2023 Nominal Percentage
(Million IDR) (%)
Total Liabilities 1,429,095 1,245,498 183,597 14.74
Less: Cash and Cash Equivalents 2,329,491 1,230,544 1,098,947 89.31
Net Payables (900,396) 14,954 (915,350) (6,121.10)
Total Equity 9,631,880 9,921,489 (289,609) (2.92)
Net Debt to Equity Ratio (%) N/A* 0.15 - -
* Not relevant due to cash and cash equivalents surplus position.
Capital Goods Investment
Avian Brands consistently realizes capital goods investment every year as part of its steadfast commitment to strengthening
the foundation of its business. Capital goods investment includes the expenditure of funds used to purchase strategic assets
or investments expected to generate value in the future. This entails the procurement of various types of fixed assets that
support the operations and growth of Avian Brands.
Capital Goods Investment Strategy and Objectives
Avian Brands realizes capital goods investment as part of the effort to improve operational efficiency, encourage product
innovation, and strengthen its competitive edge. With the right investment strategy, Avian Brands can continuously
strengthen its market position, ensure sustainable growth, and create value for its stakeholders. It also allows Avian Brands to
gain an edge in navigating future challenges and opportunities with more confidence and solidity.
Investment Type and Value
Avian Brands’ capital goods investment includes development of manufacturing facilities, purchase of fixed assets, and
development of technology infrastructure. The value of capital goods investment realized in 2024 reached IDR406.55 billion,
an increase of 88.46% compared to IDR215.72 billion in 2023. Details of Avian Brands’ capital goods investment in the last
2 years are described below:
(in millions Rupiah, unless otherwise stated)
Increase (Decrease)
Description 2024 2023 Nominal Percentage
(Million IDR) (%)
Direct Acquisition
Building and Improvements 2,586 2,029 557 27.45
Machinery and Equipment 8,448 7,420 1,028 13.85
Installations 420 516 (96) (18.60)
Vehicles 62,388 62,221 167 0.27
Office Equipment 39,684 37,228 2,456 6.60
Assets Under Construction 293,025 106,309 186,716 175.64
Total 406,551 215,723 190,828 88.46
Material Commitments related to Capital Goods Investment
Throughout 2024, we did not have any material commitments related to capital goods investment, so we have not presented
information on the name of the counterparty, the purpose of the commitments, the expected source of funds to fulfill the
commitments, the currency in which the commitment is denominated, and the measures we plan to hedge the risk of the
related foreign currency position.
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Realization on Use of Proceeds from Public Offering
Proceeds from the public offering will be allocated by Avian Brands in a prudent and transparent manner in accordance
with predetermined plans. This approach not only strengthens Avian Brands’ financial position but also supports the
implementation of strategic initiatives aimed at enhancing value for stakeholders. Reports on the realization of the use of
proceeds from Avian Brands’ public offering as of December 31, 2024, is described below:
(in millions Rupiah, unless otherwise stated)
Realized Value of Public Offering Proposed Use of Proceeds as per the Prospectus Realization of Use of Proceeds as per the Prospectus
Remaining
Proceeds
Effective Total Principal Principal
Description Costs of Net Value from
Date Proceeds Working Capital Payment Working Capital Payment
Public of Public Total Total Public
from Public Capital Expenditures of Bank Capital Expenditures of Bank
Offering Offering Offering
Offering Debt Debt
Avian Brands 2,980,000 702,000 550,000 4,232,000 2,410,734 76,938 550,000 3,037,672 1,193,972
Initial Public November
5,766,000 119,356 5,646,644
Offering 30, 2021 PT Tirtakencana
950,000 85,000 380,000 1,415,000 950,000 85,000 380,000 1,415,000 0
Tatawarna
Dividend Policy and Distribution
Dividend Policy
Our dividend policy is determined based on the provisions contained in Avian Brands’ Articles of Association and approved
by the Shareholders through the General Meeting of Shareholders (“GMS”). The amount of dividends to be paid is at least
50.00% of our distributable net revenue and is subject to our cash flow and investment plans, Indonesian laws and regulations,
and other requirements. The determination of the amount and distribution of dividends is adopted by considering
recommendations from the Board of Directors as well as other factors, including income, operational and financial results,
liquidity conditions, capital expenditure plans, acquisition opportunities, future business prospects, compliance with the
applicable laws and regulations, and other factors that are deemed relevant.
We may announce final dividends (in Rupiah) in years in which we have positive retained earnings balance. A portion of our
net revenue, as determined by the Annual General Meeting of Shareholders (“Annual GMS”), net of corporate income tax, shall
be allocated to a reserve fund until the amount of such reserve fund reaches at least 20.00% of our fully paid-up capital, unless
otherwise determined by the Annual GMS. Avian Brands’ articles of association also permit distribution of interim dividends
prior to the end of a financial year provided that the interim dividends do not result in our net assets becoming less than the
amount of our issued and paid-up capital and the required reserve fund.
Dividend Announcement and Distribution
Pursuant to the resolution of the Annual GMS dated April 4, 2024, the Shareholders approved the distribution of cash
dividend for the financial year of 2023 in the amount of IDR22.- per share or in the amount of IDR1,357,652,577,600.-, with
the condition that such cash dividend shall be set off with the interim dividend for the financial year of 2023 in the amount of
IDR11.- per share or in the amount of IDR681,489,111,600.- which had been paid by Avian Brands to the Shareholders on
October 31, 2023, such that the remaining cash dividend for the financial year 2023 payable on April 30, 2024, by Avian Brands
was IDR11.- per share or in the amount of IDR676,163,466,000.-. Information regarding Avian Brands’ dividend distribution for
the last 2 years is described below:
(in millions Rupiah, unless otherwise stated)
Description 2024 2023
Declared Dividend
Final Dividend N/A*) 676,163
Interim Dividends 671,979 681,489
Total 671,979 1,357,653
Dividend per Share (Full Rupiah) 11.00 22.00
Dividend Payout Ratio (%) N/A *)
82.63
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PT Avia Avian Tbk • 2024 Annual Report
(in millions Rupiah, unless otherwise stated)
Description 2024 2023
Total Dividend Paid per Financial Year
Final Dividend 676,163 681,489
Interim Dividends 671,979 681,489
Total 1,348,142 1,362,978
*) The value of Final dividends and dividend payout ratio for 2024 is not yet available pending the resolution of the Annual GMS for the financial year of 2024 which
will be convened in 2025.
Material Information Concerning Investment, Expansion, Divestment,
Merger/Consolidation, Acquisition, and/or Debt/Capital Restructuring
In 2024, neither Avian Brands nor its Subsidiaries conducted any investment, expansion, divestment, merger, acquisition,
and/or debt/capital restructuring.
Material Transactions Containing Conflicts of Interest or Transactions with
Related Parties
Information on Material Transactions Containing Conflict of Interest
Throughout 2024, we did not conduct any transactions with conflicts of interest.
Information on Related Party Transactions
Avian Brands, Subsidiaries, and Affiliated Companies conducted material transactions with related parties in accordance with
the PSAK. All transactions with related parties are aimed to develop our business. Further information on transactions with
related parties conducted by us throughout 2024 is described below:
Related Parties Nature of Relationship Type of Transaction
PT Avia Avian Industri Pipa Have the same key management personnel Sales of goods, purchase of tools and building
and under common control entity materials, office building rent income,
and expense reimbursement.
PT Mitra Mulia Makmur Have the same key management personnel Sales of goods, purchase of supplies and building
and under common control entity. materials, and factory building rent income.
PT Sarana Depo Kencana Have the same key management personnel Sales of goods and building rent.
and under common control entity.
PT Wahana Lentera Raya Have the same key management personnel Sales of goods, purchase of tools and building
and under common control entity. materials, office building rent income,
and expense reimbursement.
PT Kencana Lintasindo Have the same key management personnel Sales of goods, purchase of tools and building
Internasional and under common control entity. materials, and expense reimbursement.
PT Panca Kalsiumindo Perkasa Have the same key management personnel Sales of goods and purchases of
and under common control entity. tools and building materials.
PT Megadepo Indonesia Have the same key management personnel Sales of goods and purchases of
and under common control entity. tools and building materials.
PT Caturkarda Depo Bangunan Tbk Have the same key management personnel Sales of goods.
and under common control entity.
PT Bangun Bersama Solusindo Under common control entity. Sales of goods, office building rental income,
and purchases of building materials.
The Board of Commissioners and Key management personnel. Salaries and other short-term
The Board of Directors compensation benefits.
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Realization of Related Party Transactions and Balances
The realization of related party transactions and balances on our financial performance is described as follows:
(in millions Rupiah, unless otherwise stated)
Percentage of Total Assets (%)
Related Party Balance in Assets 2024 2023
2024 2023
Trade Receivables 16,319 14,018 0.15 0.13
Other Receivables 83,283 56,538 0.75 0.51
Right of Use Assets 52,622 51,460 0.48 0.46
Total 152,224 122,016 1.38 1.10
(in millions Rupiah, unless otherwise stated)
Related Party Balance Percentage of Total Liabilities (%)
2024 2023
in Liabilities 2024 2023
Trade Payables 362,941 279,321 25.40 22.43
Other Payables 487 121 0.03 0.01
Unearned Revenue 1,611 1,802 0.11 0.14
Lease Liabilities 52,622 4,186 3.68 0.34
Total 417,661 285,430 29.22 22.92
(in millions Rupiah, unless otherwise stated)
Related Party Balance Percentage of Net Revenues (%)
2024 2023
in Net Revenues 2024 2023
Revenue 60,083 53,153 0.80 0.76
(in millions Rupiah, unless otherwise stated)
Percentage of Cost of Goods Sold
Related Party Balance (%)
2024 2023
in Cost of Goods Sold
2024 2023
Purchase of Inventories 1,825,367 1,539,938 44.19 40.17
(in millions Rupiah, unless otherwise stated)
Percentage to Total Other Income
Related Party Balance (Expenses) – Net (%)
2024 2023
in Other Income (Expenses) – Net
2024 2023
Factory and Office Building Rental Income 3,936 3,993 27.60 50.25
Fairness of Transactions
In the transactions, we do not have any special purpose that potentially violates the applicable regulations, including not
resulting in conflicts of interest for us or the majority or minority Shareholders.
Compliance with Related Rules and Regulations
We have complied with the relevant rules and regulations:
1. Financial Services Authority Regulation No. 42/POJK.04/2020 concerning Affiliated Transactions and Conflict of Interest
Transactions; and
2. Financial Services Authority Regulation No. 17/POJK.04/2020 concerning Material Transaction and Change of Business
Activities.
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Statement of the Board of Commissioners and the Board of Directors on Related Party Transactions
Through the mechanism of transaction and disclosure of reports, the Board of Directors declares that related party transactions
conducted by us have undergone adequate procedures and are conducted in accordance with generally accepted business
practices with arms-length principles. In addition, the Board of Commissioners, assisted by the Audit Committee, has reviewed
and approved the related party transactions above, and has ensured that the transactions were conducted in accordance with
generally accepted business practices with arms-length principles.
Related Party Transactions that Generate Business Income and are Routinely,
Repeatedly, and/or Continuously Performed
Disclosure of related party transactions that are business activities performed in order to generate business income and
performed routinely, repeatedly, and/or continuously, we have disclosed them as descriptions on realization of balances and
related party transactions above in line with the information contained in Note No. 7 of the PT Avia Avian Tbk and Subsidiaries’
Consolidated Financial Statements for the financial year ended December 31, 2024 and 2023.
Related Party Transactions Requiring Approval from Independent Shareholders
There were no related party transactions conducted by us that required the approval of Independent Shareholders.
Comparison of Target and Realization in 2024
Information related to the business growth target and realization that we aimed to achieve in 2024 is described below:
Achievement
Description Unit 2024 Target 2024 Realization
(%)
Total Production Metric Tons 207,725 197,339 95.00
Net Revenues Million Rupiah 7,823,000 7,471,356 95.50
Profit for the Year Million Rupiah 1,736,000 1,663,699 95.84
Capital Structure
Net Debt to Equity Ratio % < 10.00 N/A* 100.00
* Not relevant due to cash and cash equivalents surplus position.
Business Prospects
Heading into 2025, the Indonesian economy is projected to grow in the range of 4.7% - 5.5%, driven by strong domestic
consumption, investment, and continued infrastructure projects. The government continues to encourage industrial
downstreaming and adoption of technology to improve competitiveness, with responsive fiscal and monetary policies playing
a role in maintaining economic stability. However, external challenges such as trade protectionism, weakening global demand,
and geopolitical uncertainty may affect the flows of investment and exports. Therefore, adaptive strategies are necessary to
strengthen potential sectors such as technology, renewable energy, and digital industry to ensure sustainable growth and
resilience of the national economy.
In line with the foregoing, the Indonesian paint industry in 2025 is projected to keep growing, supported by the development
of infrastructure and residential housing, as well as the rapid growth of the property and manufacturing sectors.
The government’s program to build three million houses annually is expected to be a major catalyst in increasing national
paint demand, particularly in the decorative paint and protective coatings segments. Additionally, the trend of innovation in
environmentally friendly products continues to grow, along with increasing public awareness of products with low Volatile
Organic Compound (“VOC”) content and energy-efficient technologies.
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However, challenges remain, most notably in improving domestic market penetration, given that Indonesia’s per capita paint
consumption is still lower compared to several countries in the Southeast Asian region. In addition, the paint industry is faced
with fluctuating prices of raw materials, such as resins and pigments, most of which are still imported, as well as regional
competition with foreign products with larger scales of production. Therefore, adaptive strategies are essential, such as product
diversification, strengthening supply chain of domestic raw materials, and improving distribution network. With the support
of government policies that encourage industrialization and technological innovation, the national paint industry has positive
prospects and potential to experience significant growth in 2025.
Source:
• The 2024 Indonesian Economic Report, Bank Indonesia; and
• Data from Indonesian Paint Manufacturers Association (Asosiasi Produsen Cat Indonesia or “APCI”)” cited by Kompas.com.
Target Achievement Strategy
In facing the challenges and capitalizing on the opportunities in 2025, Avian Brands has formulated comprehensive and
proactive strategies to achieve its targets. These strategies are designed to ensure sustainable growth, improve competitiveness,
and realize the projections set for 2025. Information on the target achievement strategies of Avian Brands is described as
follows:
1. Increasing the number of distribution centers in accordance with market developments;
2. Completing product portfolios in each category and price point to meet market needs;
3. Increasing brand awareness through various marketing programs;
4. Improving customer service with new approaches, such as express delivery;
5. Increasing customer loyalty with various programs, such as Avian Brands Priority Customer;
6. Expanding the market by reaching out to segments outside retail and modern shops, such as project, new build, and
business to business;
7. Strengthening innovation and development, both for existing products (cost saving) and new products; and
8. Constantly upgrading manufacturing facilities and other supporting facilities, including the Enterprise Resource Planning
(“ERP”) System in use with appropriate new technology to improve efficiency.
2025 Projection
Going into 2025, Avian Brands has formulated projections as a reference to achieve sustainable growth and performance
improvements in various aspects. These projections are based on an in-depth analysis of market trends, economic conditions,
and strengths and opportunities. Avian Brands has targeted double-digit sales growth, primarily driven by growth in the
architectural solutions segment. Focusing on this segment is expected to maintain positive momentum and to capitalize on
the growing demand in the architecture and construction industry.
In addition to targeting sales growth, Avian Brands also directs its efforts to increase production to double-digit growth
compared to the previous year. This measure is undertaken to meet the needs of a growing market and to maintain a competitive
standing in an increasingly cut-throat market. In terms of profitability, Avian Brands is determined to maintain a healthy margin
level. This will be supported by the implementation of efficiency programs in various operational areas designed to optimize
costs and improve overall efficiency.
In terms of capital structure, Avian Brands currently relies on its own capital without involving loan capital. This approach
not only aims to maintain financial independence and flexibility, but also to reduce debt-related risks and maintain
long-term financial stability. Nevertheless, Avian Brands does not rule out the possibility of using loan capital in the future.
However, the use of loan capital will be carried out prudently, ensuring that each decision is based on reasonable financial
ratios and supports the operational sustainability of Avian Brands. Moreover, Avian Brands will maintain a consistent dividend
policy by planning to distribute 50% of net profit to Shareholders as dividends. This policy reflects Avian Brands’ commitment
to delivering equitable returns to Shareholders while maintaining sufficient capital to support future growth.
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Avian Brands’ Strategic Plans
In facing the evolving industry dynamics and increasingly complex global challenges, Avian Brands is steadfastly committed
to formulating and implementing holistic and sustainable strategic plans. In this regard, Avian Brands has formulated
integrated strategies that include both short-term and long-term concrete measures. These strategies are designed to ensure
the survival of Avian Brands, as well as to ensure sustainable growth and delivery of maximum added value to all stakeholders.
Avian Brands’ strategic plans are further described as follows:
Short-term Strategic Plans
Avian Brands remains committed to improving operational performance and expanding market reach by implementing structured
strategic plans. Its main focuses include product innovation, infrastructure development, operational efficiency improvement, and
sustainability. Avian Brands’ short-term strategic plans are further described as follows:
1. Construction of Water-Based Plan in Cirebon 4. Addition of Distribution Center (“DC”)
As part of the drive to increase manufacturing capacity and Avian Brands continues to expand its distribution network to
efficiency, Avian Brands is building a new water-based plant in support growth in the domestic market. In 2024, Avian Brands
Cirebon. This plant is designed with cutting-edge technology has opened new distribution centers, including:
and integrated systems, which allows for reduced waste and a. Mini DC in Sumba;
increased productivity. This is consistent with Avian Brands’ b. DC in Masohi;
commitment to offering environmentally friendly products In c. DC in Wonosobo;
support of sustainability. d. DC in Mamuju;
2. Addition of Green Label Products e. DC in Banjar; and
Avian Brands continues to expand its portfolio of environmentally f. DC in South Makassar.
friendly products. In 2024, Avian Brands has added 6 new This expansion of distribution network is expected to improve
Singapore Green Label-certified products, including: distribution efficiency and expand product reach to potential
a. No Drop Beton dan Batu Alam; new areas.
b. Avian Cat Lapangan; 5. Plant Development
c. No Drop Kolam Ikan; Avian Brands continues to develop the manufacturing
d. Supersilk Semi Kilap; infrastructure at its existing plants to support operational
e. Supersilk Basic; and efficiency and sustainability. This development includes
f. Avitex Emulsion. upgrading manufacturing technology, strengthening
Nevertheless, there is one Singapore Green Label product, operational systems, and taking concrete steps to maintain
namely No Odor Medicare, which certification was not renewed product quality while minimizing environmental impact. Some
due to Avian Brands’ strategic considerations. This move reflects of Avian Brands’ strategic steps related to the development of
Avian Brands’ dedication to meet the needs of the market while manufacturing facilities are described below:
emphasizing continuous innovation. a. Emissions and Energy Efficiency
3. Launch of New Products • Modifying cooling tower pumps to optimize energy use,
To complement its product portfolio and address the needs of resulting in more efficient energy consumption; and
the communities, Avian Brands launched several new products • Installing solar-powered street lighting in the plant area as
in 2024. These products are designed to expand Avian Brands part of the initiative to reduce carbon emissions and use
market segmentation. The new products successfully launched renewable energy.
by Avian Brands throughout 2024 are: b. Manufacturing
a. Avian Cling Water Based; • Construction of Melati Plant to increase manufacturing
b. Boyo Politur Spray; capacity of No Drop and Avitex products by implementing
c. No Drop Tile Grout; more efficient technology, resulting in energy savings of
d. No Drop Dempul Instan; up to 50%; and
e. No Drop Serat Fiber; • Conducting an upgrade of the mixer at BME Plant to
f. GM 385 Perekat Bata Ringan Ekonomis; increase the manufacturing capacity of Avitex Wizz
g. Pro-X 208; products, with the latest technology that delivers 50%
h. No Drop Beton dan Batu Alam; energy savings.
i. Avian Non-Sag Epoxy Hemat; c. Water Usage and Waste Management
j. Supersilk Semi Kilap; • Adopting a cooling system designed to significantly
k. No Drop Kolam Ikan; reduce water consumption; and
l. GM 265 Acian Abu-Abu Ekonomis; • Implementing rainwater harvesting programs to
m. GM 27ª5 Acian Putih Ekonomis; support operational needs and reduce dependence on
n. Supersilk Basic; and conventional sources of clean water.
o. Avian Cat Lapangan. These measures not only improve plant efficiency and
productivity, but also reflect Avian Brands’ commitment to
environmentally friendly and sustainable industry practices.
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Short-term Strategic Plans
6. Employee Development 8. ESG Development
HR development remains a top priority that Avian Brands To further strengthen its sustainability commitment, Avian
implements in its short-term strategic plan. Avian Brands Brands continues to add more sustainability-related product
implements a range of structured employee training and certifications and consistently improve its ESG score assessments
development programs, among others: that are recognized by various parties. In this regard, 34 of
a. Core Competency Training; Avian Brands’ products are certified with the Singapore Green
b. Technical Competency Training; Label. Avian Brands has also managed to achieve various ESG-
c. Generic Competency Training; related awards from various parties. In addition, improved ESG
d. Leadership Competency Program; and scores from international rating agencies, such as EcoVadis
e. Certification and Standardization Training and Sustainalytics, further solidify Avian Brands’ position as a
In addition to improving employee quality, HR development also standout performer in sustainability governance. This strategy
seeks to improve their skills to face the challenges of a dynamic is a critical foundation to support sustainable growth that adds
market. value to all stakeholders.
7. IT System Development
Avian Brands continuously improves its IT system By implementing these strategic plans, Avian Brands is committed
implementation to support more efficient and integrated to delivering added value to its stakeholders and strengthening its
operations. This includes the implementation of Warehouse position as an innovative and sustainable market leader.
Management System to improve warehouse management
efficiency, modernization of warehouse and plant infrastructure
to strengthen communication and data security, enhancement
of Sales Force Automation application to support sales team
productivity, and development of Human Resource Management
System to improve digital HR management efficiency,
employee productivity, and data-based decision making.
Long-term Strategic Plans
Avian Brands’ long-term vision is to become an integrated, environmentally friendly, leading, and trusted paint company in Indonesia.
In pursuit of realizing this Vision, Avian Brands is committed to its Mission of providing added value to stakeholders through the
development of various high-quality paints. In realizing the Vision and Mission, Avian Brands has formulated long-term strategies that are
oriented toward sustainability, innovation, efficiency, and resource development. The key pillars of Avian Brands’ long-term strategic plan
are described as follows:
1. Utilization of Advanced Technology for Production Efficiency 3. Improving Supply Chain Quality
Avian Brands will continue to utilize the most advanced Strengthening of supply chain is a key pillar to support
technology by upgrading manufacturing machinery and operational resilience. The efforts that will be undertaken
equipment to improve operational efficiency. This includes: include:
a. Reduction of raw material consumption by utilizing more a. Establishing strategic partnerships with suppliers of
precise technology; high-quality raw materials to maintain a stable supply;
b. Energy saving with more energy-efficient engines; b. Optimizing cooperation with freight forwarding vendors to
c. Waste reduction to support more environmentally friendly ensure efficient product delivery; and
operations; c. Implementing a digital-based supply chain management
d. Improving machine utilization to optimize manufacturing system to improve visibility and operational efficiency.
capacity; and 4. Integrating the ESG as the Foundation of Avian Brands’
e. Utilizing reuse and recycling to maximize the value of Operations
production waste. Avian Brands will ensure that ESG principles become the
This not only reduces operational costs but also increases foundation of all business activities. Some of the main steps that
product competitiveness in the market, with maintained quality will be realized include:
at a more competitive price. a. Expanding the variety of environmentally friendly products
2. Development of Modern Laboratories and Expert Chemists and processes, thereby opening up opportunities for access
for Product Innovation to green finance, such as green bond issuance, as well as
Continuous investment in the development of modern improving appeal to sustainability-focused investors;
laboratories is a priority to support RDI activities, allowing b. Ensuring regulatory compliance, including information
Avian Brands to stay updated with the latest technology and disclosure and implementation of business ethics; and
innovation requirements related to its products. With its facilities c. Improving Avian Brands’ reputation in the international
that are equipped with the latest technology and competent market by taking part in sustainability certifications and ESG
chemists, Avian Brands will be able to: assessments.
a. Develop innovative new products according to market needs; 5. Human Resources Development
b. Ensure product quality remains consistent and in line with Avian Brands realizes that HR is a key asset that serves as the
international standards; and foundation and driving force for its business development
c. Accelerate the timing of product launches to the market to and sustainability going forward. Therefore, Avian Brands will
outpace competitors. implement various strategies for HR development, including:
a. Increasing employee engagement through programs that
encourage employee participation;
b. Improving productivity through skills training and
development; and
c. Attracting and retaining top talents to support the future
growth of Avian Brands.
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PT Avia Avian Tbk • 2024 Annual Report
Long-term Strategic Plans
6. Inorganic Business Development b. Improvement of customer data security and personal data
Avian Brands will adopt business development strategies protection in accordance with applicable regulations; and
through inorganic measures, among others: c. Implementation of data analytics for faster and more accurate
a. Adding new business lines that complement Avian Brands’ decision-making.
ecosystem as a paint manufacturer; and 8. Distribution Network Expansion
b. Acquiring or collaborating with other companies with strategic To reach all parts of Indonesia, Avian Brands will continue to
value to strengthen core business. expand its distribution network. This strategy includes opening
7. Integrated IT System new DCs in strategic locations, allowing products to reach
Development of IT systems will serve as the backbone for more customers more quickly and efficiently.
integrated operations. Therefore, Avian Brands has set several 9. Support from Company Value: CInTA
focuses that will be realized in the framework of IT development, The strategic initiatives undertaken by Avian Brands will be
among others: supported by the implementation of its core values, namely the
a. IT system upgrade to support seamless and digital-based CinTA.
business;
All initiatives undertaken by Avian Brands are part of the effort to achieve sustainable growth, both in terms of top line
(increased sales) and bottom line (increased profits), to provide optimal returns for all stakeholders. This strategy is materialized
through optimization of financial performance, such as revenue growth that is coupled with cost optimization, and better
management of balance sheet optimization through the strategies of working capital optimization, debt management, and
equity.
As a key source of revenue growth, Avian Brands will leverage the strengths of RDI to create innovative products that are
relevant to market needs. In addition, it is also actively exploring strategic opportunities for partnership and expanding its
reach to new customer groups, such as the project segment which has great potential, after previously focusing more on the
retail market. With this comprehensive approach, not only does Avian Brands strengthen its competitive edge but also creates
long-term value for its stakeholders.
Changes in Accounting Policies
The Consolidated Financial Statements of PT Avia Avian Tbk and its Subsidiaries have been prepared in accordance
with the Financial Accounting Standards (Standar Akuntansi Keuangan or “SAK”) issued by the Indonesian Institute of
Accountants (Ikatan Akuntan Indonesia or “IAI”). Over time, IAI continues to publish new standards, amendments, revisions,
and interpretations to update and improve accounting guidance relevant to the latest market and regulatory conditions.
Information regarding changes in accounting policies that are effective for financial years commencing on or after
January 1, 2024 is described below:
ISAK/Amendments to PSAK Impacts on Avian Brands
PSAK 201 (Amendment), “Presentation of Financial Statements”:
Classification of Liabilities as Current or Non-Current.
PSAK 201 (Amendment), “Presentation of Financial Statements”: Does not result in substantial changes to
Non-current Liabilities with Covenants. the Company’s accounting policies and no material effects
on the amounts reported for the current or prior financial years.
PSAK 207 (Amendment), “Statement of Cash Flows” and
PSAK 107 (Amendment), “Financial Instruments: Disclosure”:
Supplier Financing Arrangements.
Reason for Change in Accounting Policy
Changes in accounting policies in the Consolidated Financial Statements of PT Avia Avian Tbk and its Subsidiaries for
the financial years ended December 31, 2024 and 2023 are made to ensure that Avian Brands follow the accounting practices
that are in accordance with the applicable standards in the current year.
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Changes in Laws and Regulations with Significant Impacts on Avian Brands
In carrying out its operations, Avian Brands constantly reviews any changes in laws and regulations that could potentially affect
Avian Brands. This approach not only ensures timely compliance with applicable regulations, but also enables Avian Brands
to respond quickly to changes in the dynamic legal environment. Laws and regulations that were amended and/or recently
enacted by regulators throughout 2024 that significantly affect Avian Brands are described below:
Regulations Impacts on Avian Brands Adjustments Made
Regulation of the Minister of Public Works All buildings of Avian Brands that already Starting October 2025, all buildings of
and Public Housing of the Republic of have a Certificate of Occupancy Avian Brands that already have the SLF,
Indonesia Number 12 Year 2024 regarding (Sertifikat Laik Fungsi or “SLF”) must commence the processing of SBKBG.
Building Construction Ownership are required to have SBKBG.
Certificate (Surat Bukti Kepemilikan
Bangunan Gedung or “SBKBG”).
Circular Letter of the Minister of Industry Mandatory reporting of industrial activities, Starting July 2024, Avian Brands has
No. 1 of 2025 concerning Submission of which was previously done every semester, adjusted to a quarterly industrial activity
Industrial Data and Industrial Estate Data. has now changed to every quarter. reporting schedule, with reporting
implementation managed by
the Legal team.
Material Information After the Financial Statements Date
There is no material information that occurred in Avian Brands following the publication date of the PT Avia Avian Tbk and
Subsidiaries’ Consolidated Financial Statements for the financial year ended December 31, 2024 and 2023.
Business Continuity Information
Matters That Have a Significant Influence on Business Continuity
Throughout 2024, there were no negative events that had major impacts on our operational activities, both internal and
external. This is inseparable from the better risk management that has been performed by us.
Management Assessment to Manage Potentially Significant Influences
Supported by the business plan that has been presented in the business development strategy for 2024, the management
has assessed our ability to continue business activities in the future. The management believes that there are no material
uncertainties that may affect our ability to continue business activities.
Assumptions Used by Management in Assessment
In conducting the assessment, the management uses a number of assumptions, including:
1. Financial performance;
2. Operational performance;
3. Capital structure;
4. Regulation; and
5. Various risks, such as:
a. Business risk;
b. Operational risk;
c. Resource risk;
d. Compliance/legal risk;
e. Financial risk; and
f. Other risks caused by external factors.
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Good
Corporate
Governance
“Avian Brands is committed to thoroughly
and consistently implementing GCG
principles in all aspects of its operations.
This commitment is manifested through
implementing various guidelines and
policies designed to ensure transparency,
accountability, and compliance in
conducting business. Through these
measures, Avian Brands strives to create
an environment that fosters integrity
and maintains the confidence of all
stakeholders, both internal and external.
This effort reflects Avian Brands’ dedication
to achieving sustainable growth while
upholding good governance principles.”
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GOOD CORPORATE GOVERNANCE
Commitment to Implementing
Good Corporate Governance
Avian Brands’ commitment to implementing Good Corporate Governance (“GCG”) principles is constantly realized in
a consistent and comprehensive manner in all its operational activities, in order to improve Avian Brands’ performance and
value. The GCG implementation is not merely an obligation, but also a key strategy in creating a transparent, accountable, and
sustainable Avian Brands’ management. Through GCG implementation, Avian Brands also strives to improve the quality of its
decision-making and to conduct business activities in a healthy and ethical manner. This is inseparable from the importance of
GCG for Avian Brands, as it helps manage operations effectively, minimize risks, and maintain stakeholders’ confidence.
Avian Brands recognizes that the quality of its GCG implementation must be continuously upgraded in line with Avian Brands’
business development and the risks faced. Therefore, Avian Brands conducts continuous evaluation and adjustment to its
GCG practices to ensure that each aspect remains relevant and effective in facing dynamic business challenges. With this
commitment, Avian Brands strives to achieve sustainable growth and provide optimal added value to all stakeholders.
In this regard, Avian Brands has implemented 4 GCG pillars which represent an expansion of the basic values of TARIF
(Transparency, Accountability, Responsibility, Independence, and Fairness). Further information is described as follows:
Ethical Conduct Transparency
In carrying out each business activity, Avian Brands In maintaining objectivity in business management,
always emphasizes honesty, respects all partiest, Avian Brands consistently provides material and
fulfills commitments, and consistently builds and relevant information in an easily accessible and
maintains moral values and trust. Furthermore, understandable manner for Shareholders and other
Avian Brands at all times takes into account the stakeholders. Avian Brands has taken the initiative to
interests of Shareholders and other stakeholders on disclose not only information required by regulations
the basis of fairness and equality, as well as ensuring but also other crucial information that supports the
independence in management to ensure that no decision-making processes of Shareholders, creditors,
organ of Avian Brands dominates each other and that and other stakeholders.
no other party can intervene.
Accountability Sustainability
Avian Brands can be held accountable for its Avian Brands remains compliant with all applicable
performance transparently and reasonably. Therefore, laws and regulations and is committed to carrying out
Avian Brands’ management is always carried out in a its responsibilities towards the community and the
correct and calculated manner, in accordance with environment in order to contribute to the Sustainable
Avian Brands’ interests while taking into account Development Goals through cooperation with all
the Shareholders’ and other stakeholders’ interests. relevant stakeholders. This represents Avian Brands’
Accountability is one of the pillars that forms the main strategic initiative to improve our quality of life in
foundation for achieving sustainable performance. a way that is aligned with Avian Brands’ business
interests and the sustainable development agenda.
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Integrated Good Corporate Governance Implementation Policy
As a holding company, Avian Brands is committed to implementing GCG principles in an integrated manner across its
Subsidiaries as reflected in the GCG Guidelines. With an integrated policy in place, Avian Brands strives to implement GCG
principles consistently across all group companies. This includes transparency in reporting, accountability in decision-making,
and compliance with regulations and business ethics. Avian Brands also conducts regular evaluation and monitoring to ensure
that GCG practices are appropriately implemented and provide optimal added value for all stakeholders. Through this policy,
Avian Brands further reinforces its firm foundation of governance to support sustainable growth within Avian Brands group.
Basis of Good Corporate
Governance Implementation
The implementation of GCG in Avian Brands refers to the provisions as described as follows:
1. The 1945 Constitution of the Republic of Indonesia;
2. Law No. 8 of 1995 concerning the Capital Market;
3. Law No. 40 of 2007 concerning Limited Liability Companies;
4. Financial Services Authority (Otoritas Jasa Keuangan or “OJK”) Regulations;
5. Indonesian Stock Exchange Regulations;
6. OJK Circular Letter No. 32/SEOJK.04/2015 concerning Guidelines for Corporate Governance of Public Companies;
7. Indonesian GCG General Guidelines issued by the National Committee on Governance Policy (Komite Nasional Kebijakan
Governance or “KNKG”) with due observance to the ASEAN Corporate Governance Scorecard (“ACGS”);
8. Avian Brands’ Articles of Association; and
9. Avian Brands’ other guidelines and policies.
Avian Brands also has GCG Guidelines in place, which were stipulated on June 25, 2021 and last updated on March 24, 2022.
The GCG guidelines are a set of rules guiding the process of good corporate management and supervision. The guidelines
encompass the division of duties, authorities, and responsibilities, particularly for Shareholders, the Board of Commissioners,
and the Board of Directors, which are based on the principles of GCG.
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Structure of Good Corporate Governance
The GCG structure constitutes governance organs designed to ensure Avian Brands’ compliance with laws and regulations,
as well as address Avian Brands’ internal needs in sustainably improving the quality of GCG implementation. As a Limited
Liability Company, the GCG structure is formulated in accordance with the provisions of Law No. 40 of 2007 on Limited Liability
Companies, which stipulates the establishment of the General Meeting of Shareholders (“GMS”), the Board of Commissioners,
and the Board of Directors. In terms of the GCG model, Avian Brands adopts a two-tier system, where the Board of Commissioners
and the Board of Directors have separate but complementary authorities and responsibilities.
The Board of Commissioners is tasked with supervising Avian Brands’ management and providing strategic advice to the Board
of Directors, which is responsible for the day-to-day operational management of Avian Brands. This division of duties is detailed
in the laws and regulations as well as Avian Brands’ Articles of Association to ensure that each Avian Brands’ organ performs its
functions optimally and in accordance with the GCG principles. With a clear and defined governance structure, Avian Brands
is committed to conducting its operations in a transparent, accountable, and efficient manner. This not only encourages
compliance with applicable regulations but also promotes a healthy and sustainable business environment.
GENERAL MEETING OF SHAREHOLDERS
The Board of The Board of
Commissioners Directors
The Nomination The Related
The Audit The Good Corporate The Corporate The Internal
and Remuneration Party Transaction
Committee Governance Committee Secretary Audit Unit
Committee Committee
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Mechanism of Good Corporate Governance
The GCG mechanism is designed to ensure that the established GCG structure operates effectively with a clear division of
duties for each Avian Brands’ organ. The GMS plays a key role as the highest authority in Avian Brands’ GCG structure,
where strategic decisions regarding Avian Brands’ future are carefully assessed, formulated and resolved. The Board of Directors
then implements such resolutions under the Board of Commissioners’ supervision.
In performing its supervisory duties, the Board of Commissioners is supported by a number of dedicated committees, namely
the Audit Committee, the Nomination and Remuneration Committee, and the Good Corporate Governance Committee.
Each committee serves a specific role in ensuring proper implementation of various supervisory aspects, from regulatory
compliance, performance evaluation, to implementation of fair and transparent remuneration policies. As for operational
management, the Board of Directors is in charge of the day-to-day implementation of Avian Brands’ activities, supported by
the Related Party Transaction Committee, the Corporate Secretary, and the Internal Audit Unit. In this regard, Avian Brands
also engages an independent external auditor to audit the Financial Statements and provide additional assurance that the
financial information presented by Avian Brands is accurate and reliable.
General Meeting of Shareholders
The GMS is the key pillar in Avian Brands’ GCG structure, with certain authorities that are not granted to the Board of
Commissioners or the Board of Directors, within the boundaries stipulated in the Limited Liability Company Law and Avian
Brands’ Articles of Association. As the highest organ, the GMS has the authority to determine long-term strategic directions,
formulate key policies, and assess the performance of the Board of Commissioners and Board of Directors. These resolutions
not only affect Avian Brands’ financial and operational performance, but also Avian Brands’ reputation and stakeholders’
confidence. The Board of Directors is responsible for implementing the GMS resolutions by ensuring that the adopted
strategies and policies consistently serve Avian Brands’ vision and mission. Meanwhile, the Board of Commissioners’ meticulous
supervision ensures that implementation is aligned with mandated GCG principles, while maintaining integrity, transparency,
and ethical values in all aspects of Avian Brands’ operations.
Rights of Shareholders
Avian Brands’ Shareholders are entitled to the following rights:
1. Attend the GMS and cast 1 vote per 1 share owned;
2. Authorize other parties in the event that the Shareholder is unable to attend the GMS;
3. Receive and examine the GMS materials at the latest 21 days prior to the GMS convention in order to allow Shareholders to
vote during the proposed decision on the GMS agenda;
4. Have the opportunity to raise questions in each discussion and decision of the GMS agenda;
5. Have the opportunity to vote for, against, or abstain on each proposed decision of the GMS agenda;
6. Receive equal treatment from Avian Brands; and
7. Other rights based on the Articles of Association and other applicable regulations.
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Type of General Meeting of Shareholders
Based on the OJK Regulation No. 15/POJK.04/2020 concerning the Plan and Implementation of the General Meeting of
Shareholders of Public Companies and/or Avian Brands’ Articles of Association, the implementation of the GMS is divided into
two types, as described below
1. Annual GMS
The annual GMS is a General Meeting of Shareholders convened every year. In accordance with the prevailing regulations,
the Annual GMS must be convened no later than six months after the end of Avian Brands’ financial year. The Annual GMS
includes the following agendas:
a. Ratification of the Annual Report, descriptions of state and affairs of Avian Brands, including Annual Financial
Statements;
b. Determination of the use of net profit;
c. Appointment of an external auditor registered with the OJK; and
d. Other agendas proposed by the Board of Directors in the interest of Avian Brands or proposed by one or more
Shareholders in accordance with the provisions of the Law and Avian Brands’ Articles of Association.
2. Extraordinary GMS
The extraordinary GMS is a General Meeting of Shareholders that is convened at any time based on urgent matters in the
interest of Avian Brands. Unlike the regularly scheduled Annual GMS, an Extraordinary GMS may be convened at any time
in case of urgent resolutions that must be decided immediately and may not wait until the next Annual GMS.
Authority of the General Meeting of Shareholders
The GMS holds a pivotal role in the GCG structure, primarily as the highest authority in strategic decision-making,
which influences Avian Brands’ direction and sustainability. In carrying out this role, the GMS holds several authorities as
described below:
1. Exercise its rights to express opinions and obtain information relating to Avian Brands from the Board of Directors and the
Board of Commissioners to the extent that it concerns the agenda of the meeting and does not conflict with the interests
of Avian Brands;
2. Hold the Board of Commissioners and the Board of Directors accountable for the management of Avian Brands;
3. Amend the Articles of Association; and
4. Appoint and dismiss the Board of Commissioners and the Board of Directors.
Procedures for Convening General Meeting of Shareholders
The procedure for convening Avian Brands’ GMS complies with applicable laws and regulations, including Law No. 40 of 2007
on Limited Liability Companies, OJK Regulation No. 15/POJK.04/2020 on the Plan and Implementation of the General Meeting
of Shareholders of Public Companies, OJK Regulation No. 16/POJK.04/2020 on Implementation of the Electronic General
Meeting of Shareholders of Public Companies, as well as Avian Brands’ Articles of Association. Compliance with the procedures
outlined in the prevailing laws and regulations, allows Avian Brands to ensure that the GMS proceeds in an orderly, transparent,
and accountable manner, thereby facilitating strategic decision-making essential to Avian Brands’ growth and sustainability.
Voting Mechanism
The GMS voting mechanism is designed to ensure active participation and transparency in the decision-making process. In any
agenda of the GMS, the Chairman of the Meeting will provide an opportunity for the Shareholders to ask questions and/or give
opinions before voting takes place. This allows for open discussion and thorough consideration of any proposals or resolutions
to be adopted.
Pursuant to Article 12 paragraph (13) of Avian Brands’ Articles of Association, all resolutions of the GMS shall be made by
way of deliberation for consensus. This mechanism emphasizes the significance of consensus and mutual agreement among
Shareholders, reflecting of solidarity and democracy in Avian Brands’ decision-making. However, in the event that deliberation
for consensus fails to reach an agreement, resolutions shall be adopted through a voting mechanism. The voting process shall
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be conducted fairly and transparently, with each Shareholder entitled to vote in accordance with the number of shares they
hold. Voting results shall be publicly tallied and announced, ensuring that the resolutions adopted truly reflect the will of
the majority of Shareholders.
Conventions of General Meeting of Shareholders in 2024
Throughout 2024, Avian Brands convened 1 Annual GMS and did not convene any Extraordinary GMS. Further information
regarding the GMS convention is described as follows:
2024 Annual GMS
Convention Stages of the 2024 Annual GMS
Notification Announcement Invitation Implementation GMS Resolutions
Notified the Financial Announced on Announced on Convened on The Meeting Summary
Services Authority February 27, 2024 March 13, 2024 through April 4, 2024 at was published on
on February 20, 2024 through the websites of the websites of Avian 09.49 – 11.20 (GMT+7) April 5, 2024 on the
through Letter Avian Brands, Indonesia Brands, Indonesia Stock in Avian Brands Building websites of Avian Brands,
No. 014/AA/CORSEC/ Stock Exchange, and Exchange, and Indonesia Meeting Room, Indonesia Stock
II/2024. Indonesia Central Central Securities Jl. Ahmad Yani No. 317, Exchange, and on
Securities Depository. Depository. Surabaya, 60234, Jawa April 6, 2024 on the
Timur, Indonesia. website of Indonesia
Central Securities
Depository.
Participants of the 2024 Annual GMS
The 2024 Annual GMS was attended by 59,595,151,446 shares with valid voting rights or 96.6710%
The Shareholders of 61,647,392,400,000 where these shares do not include treasury stock totaling 306,163,200 shares,
by considering the List of Shareholders as of March 8, 2024.
President Commissioner Hermanto Tanoko
The Board of Commissioners
Independent Commissioner Mohammad Noor Rachman Soejoeti
Vice President Director Ruslan Tanoko
Director Robert Christian Tanoko
The Board of Directors
Director Kurnia Hadi Sinanto
Director Angelica Tanisia Jozar
Independent Parties in the Avian Brands appointed PT Bima Registra, as the Securities Administration Bureau, to count the votes
Convention of the 2024 and/or validate the votes and appointed Dr. Susanti, S.H., M.Kn., a Notary in Surabaya City as the Public
Annual GMS Notary, to verify the vote count in the 2024 Annual GMS.
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Resolutions of the 2024 Annual GMS
Agenda 1
Agenda
Approval on Avian Brands’ Annual Report, including Avian Brands’ Audited Consolidated Financial Statements and the
Board of Commissioners’ Supervisory Duty Report for the financial year ended on December 31, 2023 and grant of release and discharge
of liability (acquit et de charge) to all members of Avian Brands’ Board of Directors for their management actions and to all members of
Avian Brands’ Board of Commissioners for their supervisory actions during the financial year ended on December 31, 2023.
Resolutions
1. Accepted and approved the Annual Report of Avian Brands for the financial year ended on December 31, 2023 and ratified the Audited
Consolidated Financial Statements of Avian Brands and the Subsidiaries for financial year ended on December 31, 2023 which has
been audited by Public Accounting Firm of Tanudiredja, Wibisana, Rintis & Rekan (a member firm of the PwC global network) with an
unmodified opinion as stated in its report No. 00202/2.1025/AU.1/04/1737-2/1/II/2024 tertanggal February 27, 2024; and
2. Accepted and approved the Report of Supervisory Duties of the Board of Commissioners for the financial year ended on
December 31, 2023, and grant of full release and discharge of liability (acquit et de charge) to all members of the Board of Directors
and the Board of Commissioners of Avian Brands, for the management and supervisory actions during the 2023 financial year provided
that those actions are reflected in the Annual Report, and the Financial Statements of Avian Brands for financial year ended on
December 31, 2023, except for fraudulent, embezzlement, or other criminal acts.
Voting Results Realization
Agree : 59,595,151,046 Fully realized. Avian Brands’ Financial Statements and Annual Report for the financial year
Abstain : 300 ended December 31, 2023 have been submitted to the regulator on February 28, 2024
Disagree : 100 and March 12, 2024 and have been posted on the website, and have not been amended
following the GMS.
Agenda 2
Agenda
Determination of the use of Avian Brands’ net profit for the financial year ended on December 31, 2023.
Resolutions
1. Determining that according to Avian Brands’ Audited Consolidated Financial Statements as of December 31, 2023, Avian Brands’ net
profit is amounted to IDR1,643,095,450,420.- ( “2023 Net Profit”);
2. Appropriating Avian Brands’ 2023 Net Profit as follows:
a. an amount of IDR22.- per share will be distributed as cash dividends for the financial year ended on December 31, 2023 to the
shareholders entitled to receive cash dividends, where the amount of cash dividends includes the interim dividends, with the
following explanation:
1) to ratify the distribution of interim dividends for the 2023 financial year from the 2023 Net Profit of IDR11.- per share or
IDR681,489,111,600.- and the payment has been made on October 31, 2023 to the holders/owners of 61,953,555,600 shares of
Avian Brands; and
2) to distribute cash dividends for the 2023 financial year from 2023 Net Profit of IDR11.- per share to holders/owners of Avian Brands’
shares who are entitled to dividend distribution, whereas treasury stock is not entitled to dividend distribution;
with due observance of the prevailing laws and regulations, including the applicable tax regulations;
As regards such dividend payments, the following terms and conditions shall apply:
a) the remaining dividends for the 2023 financial year will be paid out for each share issued by Avian Brands as recorded in
Avian Brands’ Register of Shareholders as at the record date, which will be determined by the Board of Directors;
b) as regards the payments of the remaining dividends for the 2023 financial year, the Board of Directors shall withhold tax on such
dividends in accordance with the tax regulations in force; and
c) the Board of Directors is granted the power and attorney to stipulate any matters concerning the payment of the remaining
dividends for the 2023 financial year, including (but not limited to):
(1) stipulating the record date as referred to in letter a to determine the shareholders of Avian Brands eligible to receive payments
on the remaining dividends for the 2023 financial year; and
(2) stipulating the date of payment of the remaining dividends for the 2023 financial year and any other technical matters with
due observance of the regulations of the Stock Exchange where Avian Brands’ shares are listed;
b. the remaining of 2023 Net Profit is recorded as retained earnings that have not yet been determined.
3. Approved to give full authority and power to the Board of Directors of Avian Brands with the right of substitution to take all necessary
actions in connection with the resolution, one and another thing, without any exceptions.
Voting Results Realization
Agree : 59,595,151,046 Fully realized. The cash dividend was distributed on April 30, 2024 to the Shareholders of
Abstain : 300 Avian Brands whose names are recorded in Avian Brands’ Shareholder List on April 24, 2024.
Disagree : 100
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Resolutions of the 2024 Annual GMS
Agenda 3
Agenda
Appointment of the Registered Public Accountant and/or Registered Public Accounting Firm that will Audit Avian Brands’ Consolidated
Financial Statements for the financial year ended on December 31, 2024.
Resolutions
1. To delegate authority to Avian Brands’ Board of Commissioners to appoint a Registered Public Accountant and/or Registered Public
Accounting Firm in Indonesia that will conduct an audit of Avian Brands’ Consolidated Financial Statements for the financial year
ending December 31, 2024, by taking into account the recommendation of the Audit Committee, provided that the Public Accountant
and/or the Public Accounting Firm is registered in the Financial Services Authority, has a good reputation and has no conflict of interest
with Avian Brands and its affiliates; and
2. To grant authority to Avian Brands’ Board of Directors to determine the honorarium of the Registered Public Accountant
and/or Registered Public Accounting Firm and its appointment terms.
Voting Results Realization
Agree : 58,886,680,431 Fully realized. The Board of Commissioners has appointed Public Accounting Firm
Abstain : 300 Teramihardja, Pradhono & Chandra (a member firm of Crowe global) to audit Avian Brands’
Disagree : 708,470,715 Consolidated Financial Statements for the financial year ended December 31, 2024 based
on the Minutes of the Board of Commissioners Meeting No. 006/AA/BAR/KOM/X/2024 dated
October 24, 2024.
Agenda 4
Agenda
Determination of the salary/honorarium and other allowances for members of Avian Brands’ Board of Commissioners and
the Board of Directors for the year 2024.
Resolutions
To grant power and authority to Avian Brands’ Board of Commissioners:
1. to determine the salary/honorarium and other allowances for members of the Board of Commissioners and Board of Directors of
Avian Brands for the year 2024 through the Meeting of the Board of Commissioners; and
2. to determine the amount of distribution among members of the Board of Commissioners and members of the Board of Directors;
by taking into account the recommendations from the Nomination and Remuneration Committee, the provisions of the Articles of
Association, and the prevailing rules and regulations.
Voting Results Realization
Agree : 59,420,098,946 Fully realized. The Board of Commissioners has determined the salary/honorarium and other
Abstain : 2,800 allowances for members of the Board of Commissioners and members of the Board of Directors
Disagree : 175,049,700 for the year 2024 through the Board of Commissioners Meeting based on the Minutes of the
Board of Commissioners Meeting No. 002/AA/BAR/KOM/IV/2024 dated April 29, 2024.
Agenda 5
Agenda
Submission of an Accountability Report on the Realization of the Use of Proceeds from the Initial Public Offering.
Resolutions
The Fifth Agenda is only a Report in connection with the Realization of the Use of Proceeds from the Initial Public Offering, then there is
no voting/approval from the Meeting is conducted.
Voting Results Realization
Agree :- -
Abstain :-
Disagree :-
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Conventions of General Meeting of Shareholders in 2023
Throughout 2023, Avian Brands convened 1 Annual GMS and 2 Extraordinary GMS. More information concerning the GMS
convention is described as follows:
2023 Annual GMS
Convention Stages of the 2023 Annual GMS
Notification Announcement Invitation Implementation GMS Resolutions
Notified the Financial Announced on Announced on Convened on The Meeting Summary
Services Authority March 6, 2023 March 21, 2023 April 13, 2023 at was published on
on February 27, 2023 through the websites of through the websites of 10:00 – 11:45 (GMT+7) April 14, 2023 on
through Letter Avian Brands, Indonesia Avian Brands, Indonesia in Avian Brands Building the websites of
No. 014/AA/CORSEC/ Stock Exchange, and Stock Exchange, and Meeting Room, Avian Brands, Indonesia
II/2023. Indonesia Central Indonesia Central Jl. Ahmad Yani No. 317, Stock Exchange, and
Securities Depository. Securities Depository. Surabaya, 60234, Jawa Indonesia Central
Timur, Indonesia. Securities Depository.
Participants of the 2023 Annual GMS
The 2023 Annual GMS was attended by 60,387,654,078 shares with valid voting rights or 97.4725% of
The Shareholders
61,953,555,600 shares which constitute all of the shares issued by Avian Brands.
President Commissioner Hermanto Tanoko
The Board of Commissioners
Independent Commissioner Mohammad Noor Rachman Soejoeti
Vice President Director Ruslan Tanoko
Director Robert Christian Tanoko
The Board of Directors
Director Kurnia Hadi Sinanto
Director Angelica Tanisia Jozar
Independent Parties in the Avian Brands appointed PT Bima Registra, as the Securities Administration Bureau, to count the votes
Convention of the 2023 and/or validate the votes and appointed Dr. Susanti, S.H., M.Kn., a Notary in Surabaya City as the Public
Annual GMS Notary, to verify the vote count in the 2023 Annual GMS.
Resolutions of the 2023 Annual GMS
Agenda 1
Agenda
Approval of the Annual Report including Audited Consolidated Financial Statements of Avian Brands and Supervisory Report of
the Board of Commissioners for the financial year ended on December 31, 2022, and the granting of full release and discharge
(acquit et de charge) to all members of the Board of Directors for the management actions and to all members of the Board of
Commissioners for the supervisory actions performed during the financial year ended on December 31, 2022.
Resolutions
1. To receive and approve the Annual Report for the financial year ended December 31, 2022 and ratify Avian Brands and the
Subsidiaries’ Audited Consolidated Financial Statements for the financial year ended December 31, 2022 audited by the Public
Accounting Firm of Tanudiredja, Wibisana, Rintis & Rekan (“a member firm of PwC global network “) with an unmodified opinion as
set out in its report No. 00208/2.1025/AU.1/04/1737-1/1/II/2023 dated February 28, 2023; and
2. To receive and approve the Report on the Supervisory Function of the Board of Commissioners for the financial year ended
December 31, 2022 and grant full release and discharge (acquit et de charge) to all members of the Board of Directors and the Board
of Commissioners for their management and supervisory actions during the financial year 2022 to the extent that such actions
are reflected in Avian Brands’ Annual Report and Financial Statements for the financial year ended December 31, 2022, with the
exceptions of fraud, embezzlement, or other criminal acts.
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Resolutions of the 2023 Annual GMS
Voting Results Realization
Agree : 60,385,375,978 Fully realized. Avian Brands’ Financial Statements and Annual Report for the financial year ended
Abstain : 2,277,600 December 31, 2022 have been submitted to the regulator on March 2, 2023 and March 20, 2023
Disagree : 500 and have been posted on the website, and have not been amended following the GMS.
Agenda 2
Agenda
The determination of the use of Avian Brands’ net profit for the financial year ended December 31, 2022.
Resolutions
1. To determine that based on Avian Brands’ Audited Consolidated Financial Statements as of December 31, 2022, the total net profit of
Avian Brands is IDR1,400,365,580,530.- (“2022 Net Profit”);
2. To determine the use of 2022 Net Profit as follows:
a. IDR1,301,024,667,600.- or IDR21.- per share to be distributed as cash dividends for the financial year ended December 31, 2022
to Shareholders who have the right to receive cash dividends, in which the amount of cash dividends includes interim dividends,
with the following explanation:
1) Authorize the distribution of interim dividends for the financial year 2022 from the 2022 Net Profit in the amount of IDR10.-
per share or a total of IDR619,535,556,000.- and the payment has been made on December 6, 2022; and
2) Distribute cash dividends for the financial year 2022 from the 2022 Net Profit in the amount of IDR11.- per share or a total of
IDR681,489,111,600.-;
to the holders/owners of 61,953,555,600 of Avian Brands’ shares, with due observance of the prevailing laws and regulations
including the prevailing tax regulations;
The following terms and conditions apply to the dividend payment:
a) the remaining dividends for the financial year 2022 shall be paid for any share issued by Avian Brands that is registered in
Avian Brands’ Shareholders List on the recording date determined by the Board of Directors;
b) for the payment of the remaining dividends for the financial year 2022, the Board of Directors shall withhold dividend tax in
accordance with applicable tax regulations; and
c) the Board of Directors is authorized to determine matters relating to the payment of the remaining dividends for the financial year
2022, including (but not limited to):
(1) to determine the record date as referred to in letter a in determining Avian Brands’ shareholders who are entitled to receive
payment of the remaining dividends for the financial year 2022; and
(2) to determine the payment date of the remaining dividends for the financial year 2022 and other technical matters without
prejudice to the regulations of the Stock Exchange where Avian Brands’ shares are listed;
b. the remaining portion of 2022 Net Profit is recorded as unappropriated retained earnings.
3. To approve the granting of full authority and power to the Board of Directors with substitution rights to take all necessary actions in
connection with the resolutions, one and another without any exception.
Voting Results Realization
Agree : 60,169,648,401 Fully realized. The cash dividend was distributed on May 9, 2023 to the Shareholders of
Abstain : 2,277,600 Avian Brands whose names are recorded in Avian Brands’ Shareholder List on May 3, 2023.
Disagree : 215,728,077
Agenda 3
Agenda
The appointment of a Registered Public Accountant and/or Registered Public Accounting Firm to audit Avian Brands’ Consolidated
Financial Statements for the financial year ended December 31, 2023.
Resolutions
1. To delegate the authority to the Board of Commissioners to appoint a Public Accountant and/or Registered Public Accounting Firm in
Indonesia to conduct an Audit on Avian Brands’ Consolidated Financial Statements for the financial year ended December 31, 2023,
taking into account the recommendations of the Audit Committee, provided that such Public Accountant and/or Public Accounting
Firm is registered with the Financial Services Authority, has a good reputation, and has no conflict of interest with Avian Brands and its
affiliates; and
2. To grant the authority to the Board of Directors to determine the honorarium of the Public Accountant and/or Registered Public
Accounting Firm and other requirements concerning the appointment.
Voting Results Realization
Agree : 59,105,046,971 Fully realized. The Board of Commissioners has appointed Public Accounting Firm Tanudiredja,
Abstain : 2,277,600 Wibisana, Rintis & Rekan (a member firm of PwC global network) to audit Avian Brands’
Disagree : 1,280,329,507 Consolidated Financial Statements for the financial year ended December 31, 2023 based on
the Minutes of the Board of Commissioners Meeting No. 005/AA/BAR/KOM/VIII/2023 dated
August 30, 2023.
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Resolutions of the 2023 Annual GMS
Agenda 4
Agenda
The determination of salary/honorarium and other allowances for members of the Board of Commissioners and the Board of Directors
for the year 2023.
Resolutions
To grant power and authority to the Board of Commissioners:
1. to determine the salary/honorarium and other allowances for members of the Board of Commissioners and the Board of Directors for
the year 2023 through the Board of Commissioners Meeting; and
2. to determine the distribution amount among members of the Board of Commissioners and members of the Board of Directors;
by taking into account the recommendations from the Nomination and Remuneration Committee, the provisions of the Articles of
Association, and the prevailing rules and regulations.
Voting Results Realization
Agree : 60,117,202,701 Fully realized. The Board of Commissioners has determined the salary/honorarium and
Abstain : 2,277,600 other allowances for members of the Board of Commissioners and the Board of Directors for
Disagree : 268,173,777 the year 2023 through the Board of Commissioners Meeting based on the Minutes of
the Board of Commissioners Meeting No. 003/AA/BAR/KOM/VII/2023 dated July 3, 2023.
Agenda 5
Agenda
The submission of Accountability Report on the Realization of the Use of Proceeds from the Initial Public Offering.
Resolutions
The Fifth Agenda only constitutes a Report in connection with the Realization of the Use of Proceeds from the Initial Public Offering,
therefore no vote/approval from the Meeting is required.
Voting Results Realization
Agree :- -
Abstain :-
Disagree :-
Extraordinary GMS on April 13, 2023
Convention Stages of the Extraordinary GMS on April 13, 2023
Notification Announcement Invitation Implementation GMS Resolutions
Notified the Financial Announced on Announced on Convened on The Meeting Summary
Services Authority March 6, 2023 March 21, 2023 April 13, 2023 at was published on
on February 27, 2023 through the websites of through the websites of 12:01 – 12:15 (GMT+7) April 14, 2023 on
through Letter Avian Brands, Indonesia Avian Brands, Indonesia in Avian Brands Building the websites of
No. 014/AA/CORSEC/II/2023. Stock Exchange, and Stock Exchange, and Meeting Room, Avian Brands, Indonesia
Indonesia Central Indonesia Central Jl. Ahmad Yani No. 317, Stock Exchange, and
Securities Depository. Securities Depository. Surabaya, 60234, Jawa Indonesia Central
Timur, Indonesia. Securities Depository.
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PT Avia Avian Tbk • 2024 Annual Report
Participants of the Extraordinary GMS on April 13, 2023
The Extraordinary GMS on April 13, 2023 was attended by 60,387,604,478 shares with valid voting rights
The Shareholders
or 97.4724% of 61,953,555,600 shares which constitute all of the shares issued by Avian Brands.
President Commissioner Hermanto Tanoko
The Board of Commissioners
Independent Commissioner Mohammad Noor Rachman Soejoeti
Vice President Director Ruslan Tanoko
Director Robert Christian Tanoko
The Board of Directors
Director Kurnia Hadi Sinanto
Director Angelica Tanisia Jozar
Independent Parties in the
Avian Brands appointed PT Bima Registra, as the Securities Administration Bureau, to count the votes
Convention of
and/or validate the votes and appointed Dr. Susanti, S.H., M.Kn., a Notary in Surabaya City as the Public
the Extraordinary GMS
Notary, to verify the vote count in the Extraordinary GMS on April 13, 2023.
on April 13, 2023
Resolutions of the Extraordinary GMS on April 13, 2023
Agenda
Agenda
Approval on Amendment to Article 19 paragraph (4) of Avian Brands’ Articles of Association concerning Work Plan, Fiscal Year,
and Annual Report.
Resolutions
1. Approved the Amendment to Article 19 paragraph (4) of Avian Brands’ Articles of Association concerning the Work Plan, Fiscal Year,
and Annual Report, to be read as follows:
Article 19
4. The Board of Directors shall prepare an Annual Report and provide it in Avian Brands’ office to be examined by Shareholders as of
the date of the invitation of the Annual GMS, and announce the balance sheet and profit or loss statement that has been audited
by a public accountant registered with the OJK through the Stock Exchange website, Avian Brands’ website, and/or other media in
accordance with laws and regulations in the field of Capital Market.
2. Approved to give Power of Attorney to the Board of Directors of Avian Brands with the right to transfer power (right of substitution) to
declare the change in a separate deed before a Notary, including to submit notification to the Minister of Law and Human Rights of the
Republic of Indonesia and report to other competent authorities, register and announce it and do everything needed and required by
the applicable laws and regulations.
Voting Results Realization
Agree : 60,387,603,978 Fully realized through amendments to the Articles of Association based on the deed of Minutes
Abstain : - of the Extraordinary General Meeting of Shareholders No. 3 dated April 13, 2023, drawn up by
Disagree : 500 Dr. Susanti, S.H., M.Kn., a Notary in Surabaya City.
Extraordinary GMS on December 7, 2023
Convention Stages of the Extraordinary GMS on December 7, 2023
Notification Announcement Disclosure of Invitation Implementation GMS Resolutions
Information
Notified the Announced on Announced on Announced on Convened on The Meeting
Financial Services October 31, 2023 October 31, 2023 November 15, 2023 December 7, 2023 Summary was
Authority on through the through the through the at 09:50 – 10:26 published on
October 24, 2023 websites of websites of websites of (GMT+7) in Avian December 8, 2023 on
through Letter Avian Brands, Avian Brands and Avian Brands, Brands Building the websites of
No. 089/AA/ Indonesia Stock Indonesia Stock Indonesia Stock Meeting Room, Avian Brands and
CORSEC/X/2023. Exchange, Exchange. Exchange, Jl. Ahmad Yani Indonesia Stock
and Indonesia and Indonesia No. 317, Surabaya, Exchange, and on
Central Securities Central Securities 60234, Jawa Timur, December 9, 2023
Depository. Depository. Indonesia. on the website of
Indonesia Central
Securities Depository.
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Participants of the Extraordinary GMS on December 7, 2023
The Extraordinary GMS on December 7, 2023 was attended by 60,028,324,812 shares with valid voting
The Shareholders
rights or 96.8925% of 61,953,555,600 shares which constitute all the shares issued by Avian Brands.
President Commissioner Hermanto Tanoko
The Board of Commissioners
Independent Commissioner Mohammad Noor Rachman Soejoeti
President Director Wijono Tanoko
Vice President Director Ruslan Tanoko
The Board of Directors Director Robert Christian Tanoko
Director Kurnia Hadi Sinanto
Director Angelica Tanisia Jozar
Independent Parties in
Avian Brands appointed PT Bima Registra, as the Securities Administration Bureau, to count the votes
the Convention of the
and/or validate the votes and appointed Dr. Susanti, S.H., M.Kn., a Notary in Surabaya City as the Public
Extraordinary GMS on
Notary, to verify the vote count in the Extraordinary GMS on December 7, 2023.
December 7, 2023
Resolutions of the Extraordinary GMS on December 7, 2023
Agenda
Agenda
Approval for Avian Brands’ Share Buyback.
Resolutions
1. Approving share buyback of Avian Brands’ shares that have been issued and listed on the Indonesia Stock Exchange of up to
1,425,000,000 shares of Avian Brands or approximately 2.3% of the entire issued and paid-up capital of Avian Brands, with funds
allocation of up to IDR1,000,000,000,000.- including transaction costs, trading costs, and other costs in connection with the buyback
of Avian Brands’ shares, to be conducted in stages within a maximum period of 18 months since the share buyback is approved by the
Meeting. The share buyback will be conducted in accordance with applicable regulations; and
2. Approving to grant authority and/or power of attorney to the Board of Directors of Avian Brands to take all necessary actions
in connection with the implementation of the resolution of the Meeting as referred to in point 1 above, including but not limited
to determining the terms and conditions on the implementation of the buyback of Avian Brands’ shares and/or stating a separate
resolution in a separate deed before a Notary, with due observance of the prevailing laws and regulations.
Voting Results Realization
Agree : 60,028,322,412 The resolutions of the Extraordinary GMS agenda could not be fully realized in 2024, considering
Abstain : 400 that the share buyback period is still ongoing and shall be completed at the latest on
Disagree : 2,000 June 7, 2025.
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PT Avia Avian Tbk • 2024 Annual Report
The Board of Commissioners
The Board of Commissioners is an organ of Avian Brands that has the collective duties and responsibilities to supervise and
advise the Board of Directors regarding Avian Brands management, and to ensure that GCG principles are implemented
at all levels of the organization. The Board of Commissioners constantly carries out its duties and responsibilities in an
independent manner to maintain integrity and objectivity in every decision. Such independence also allows decision-making
to be conducted in a manner that avoids conflicts of interest that could interfere with the Board of Commissioners’ ability
to independently and critically carry out its duties and responsibilities. The Board of Commissioners also ensures consistent
implementation of GCG policies and practices, thereby creating a transparent, accountable and ethical corporate culture, and
thus contributing to Avian Brands’ sustainable performance.
The Board of Commissioners Charter
Avian Brands has the Board of Commissioners Charter in place, which was stipulated on August 16, 2021
(“Board of Commissioners Charter”). The Board of Commissioners Charter is used as a guideline for the Board of Commissioners
to carry out the supervisory function on Avian Brands and the Board of Directors based on GCG principles in realizing
the Vision, Mission, and Values of Avian Brands, based on, in particular, Avian Brands’ Articles of Association and, in general,
the prevailing laws and regulations.
Composition of the Board of Commissioners
The composition of the Board of Commissioners, as stipulated in Article 16 paragraph (1) of Avian Brands’ Articles of
Association, consists of at least 2 members, one of whom serves as President Commissioner and the other as Independent
Commissioner. This composition is selected by taking into account the diversity in terms of educational background,
professional experience, age, and expertise to ensure that the Board of Commissioners possesses wide-ranging capabilities
and perspectives in carrying out its supervisory and advisory functions to the Board of Directors. Such diversity is also
expected to contribute to achieving Avian Brands’ strategic and operational objectives and ensure effective and consistent
GCG implementation. The Board of Commissioners’ appointment and dismissal process falls under the prerogative of the GMS,
with the Board of Commissioners having 5-year term of office. In 2024, the composition of the Board of Commissioners consists
of 2 members, namely:
Name Position
Hermanto Tanoko President Commissioner
Mohammad Noor Rachman Soejoeti Independent Commissioner
Dual Appointment of the Board of Commissioners
The Board of Commissioners Charter regulates the terms regarding the dual appointment of Avian Brands’
Board of Commissioners, as described as follows:
1. The Board of Commissioners members may hold dual appointments as:
a. The Board of Directors member in a maximum of 2 other Issuers or Public Companies; and
b. The Board of Commissioners member in a maximum of 3 other Issuers or Public Companies;
2. If a Board of Commissioners member does not hold dual appointments as a Board of Directors member, he/she may hold
dual appointments as a Board of Commissioners member in a maximum of 4 other Issuers or Public Companies;
3. A Board of Commissioners member may serve as a member of at most 5 committees in Avian Brands and other Public
Companies in which he/she also serves as a member of the Board of Directors or Board of Commissioners; and
4. The dual appointment mentioned in point 3 above may only be carried out provided that it does not conflict with other
laws and regulations.
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Independent Commissioner
An Independent Commissioner is a Board of Commissioners member selected according to certain criteria that ensure he
has no financial, management, shareholding, and/or familial relationships with other Board of Commissioners members,
Board of Directors members, and/or Controlling Shareholders. These criteria aim to maintain the Independent Commissioner’s
independence, enabling him to act independently in accordance with GCG principles. Independent Commissioner’s presence
is intended to foster a climate of objective and fair decision-making, maintain fairness in every Avian Brands policy, and
ensure that all actions are taken transparently and free from conflicts of interest that could adversely impact Avian Brands.
Further, the Independent Commissioner is also expected to bring balance between the interests of majority and minority
shareholders, including public shareholders and other stakeholders.
Avian Brands has appointed 1 member of the Board of Commissioners as an Independent Commissioner, representing 50% of
the total members of the Board of Commissioners. This measure not only meets, but also exceeds the minimum requirements
stipulated in OJK Regulation No. 33/POJK.04/2014 regarding the Board of Directors and Board of Commissioners of Issuers or
Public Companies (“POJK 33/2014”), which stipulates that at least 30% of the members of the Board of Commissioners must
be Independent Commissioners. In line with the foregoing, the appointment of Mr. Mohammad Noor Rachman Soejoeti as
Independent Commissioner has also satisfied all the criteria required under POJK 33/2014 as described below:
Description of Criteria Mohammad Noor Rachman Soejoeti
Not a person who works or has the authority and responsibility to plan, lead, control, or
supervise activities of Avian Brands within the last 6 months, except for reappointment
as Independent Commissioner for the next period.
Not holding any shares, either directly or indirectly, in Avian Brands.
Not having any affiliation with Avian Brands, members of the Board of Commissioners,
members of the Board of Directors, Main Shareholders, or Controlling Shareholders of
Avian Brands.
Not having any business relationship, either directly or indirectly, related to Avian
Brands’business activities.
Duties and Responsibilities of the Board of Commissioners
The Board of Commissioners Charter regulates the duties and responsibilities of the Board of Commissioners, as one of
the main organs in Avian Brands’ GCG structure. The Board of Commissioners is collectively responsible for supervising
the Board of Directors’ policies and performance as well as providing strategic advice to ensure that Avian Brands operates
efficiently, transparently and in accordance with GCG principles. Further information on the duties and responsibilities of
the Board of Commissioners is described as follows:
1. Supervising the management of Avian Brands by the Board of Directors, both in regards to Avian Brands and its business,
as well as providing advice to the Board of Directors;
2. Performing specifically-assigned tasks in accordance with the Articles of Association, applicable laws and regulators,
and/or based on the resolutions of the GMS;
3. Performing duties, responsibilities, and authorities in accordance with the provisions of Avian Brands’ Articles of Association
and the resolutions of the GMS, including proposing the appointment of a Public Accountant and/or Public Accounting
Firm that will conduct audit services on Avian Brands’ Financial Statements;
4. Directing, monitoring, and evaluating the implementation of Avian Brands’ strategic policies;
5. Implementing and ensuring the implementation of risk management and GCG principles in each of Avian Brands’ business
activities, at all organizational levels or stages;
6. Evaluating and approving Avian Brands’ work plan;
7. Assisting and encouraging efforts in fostering and developing Avian Brands;
8. Forming the Audit Committee as well as other committees in accordance with the prevailing laws and regulations;
9. Ensuring that the supporting committees of the Board of Commissioners have effectively performed their duties and
responsibilities;
10. Evaluating the performance of the committees assisting the Board of Commissioners in performing their duties and
responsibilities at the end of each financial year; and
11. Convening the Annual GMS and other GMS in accordance with their authority as regulated by laws and regulations as well
as the Articles of Association.
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PT Avia Avian Tbk • 2024 Annual Report
Division of Duties of the Board of Commissioners
Avian Brands has also established a division of duties among Board of Commissioners members to facilitate the effective
and efficient performance of the Board of Commissioners’ collective duties and responsibilities. This division of duties
was stipulated under the Minutes of the Meeting of the Board of Commissioners No. 006/AA/BAR/KOM/IX/2023 dated
September 19, 2023. This measure aims to ensure that each Board of Commissioners member performs their responsibilities in
an optimal and efficient manner. With this division of duties, each Board of Commissioners member can focus on specific areas
according to their respective expertise and experience, thus allowing for more rigorous supervision of various operational and
strategic aspects of Avian Brands. The duties and responsibilities of each member of the Board of Commissioners are described
as follows:
Name Position Duties and Responsibilities
Hermanto Tanoko President Mr. Hermanto is responsible to:
Commissioner • coordinate the activities of the Board Commissioners and ensure that each member of the
Board of Commissioners could express his opinion based on sufficient information;
• supervise and provide advice to the Board of Directors in carrying out the management of
Avian Brands;
• provide opinion and approval of Avian Brands’ Annual Work Plan and Budget as well as
other work plans prepared by the Board of Directors, in accordance with the provisions of
Avian Brands’ Articles of Association; and
• provide a report on the supervisory duties that have been carried out during the last financial
year to the GMS.
Mohammad Noor Independent Mr. Noor is responsible for:
Rachman Soejoeti Commissioner • as Chairman of the Audit Committee;
• as Chairman of the Nomination and Remuneration Committee;
• carry out supervision in the field of capital market legal compliance;
• examine and review periodic reports and Annual Report prepared by the Board of Directors;
and
• carry out other obligations within the framework of supervisory duties and providing advice,
as long as they do not conflict with statutory regulations, Articles of Association, and/or GMS
decisions.
Decisions Requiring the Board of Commissioners’ Approval
Avian Brands has determined that certain decisions affecting Avian Brands’ long-term direction and sustainability, must be
approved by the Board of Commissioners prior to implementation thereof, as stipulated in Avian Brands’ Articles of Association.
The Board of Commissioners has the authority to review and approve such strategic decisions to ensure they align with
Avian Brands’ Vision, Mission, and Values. In addition, the Board of Commissioners also ensures that these decisions support
Avian Brands’ stability and sustainable growth. Decisions that require the Board of Commissioners’ approval are described as
follows:
1. Selling, pledging, or otherwise disposing of rights to immovable property belonging to Avian Brands;
2. Binding Avian Brands as guarantor;
3. Establishing a new business or investing;
4. Transferring investment in other companies, both domestic and overseas;
5. Receiving loans from any party;
6. Giving loans to any party save for loans in business activities and loans to Avian Brands’ employees and Subsidiaries; and
7. Opening branches or representative offices, both inside and outside the territory of the Republic of Indonesia.
The Board of Commissioners Meeting
Meeting Policy
The Board of Commissioners implements its meeting policy in accordance with the provisions stipulated in POJK No. 33/2014
and Avian Brands’ Articles of Association. Under this policy, internal meetings must be convened at least once every two
months. Meanwhile, joint meetings between the Board of Commissioners and the Board of Directors are scheduled to convene
no fewer than once every four months. These two types of meetings are essential to ensure that all decisions and measures
taken by Avian Brands are aligned with Avian Brands’ Vision, Mission, and Values.
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Meeting Convention
Throughout 2024, the Board of Commissioners has convened 6 internal meetings and 12 joint meetings with the Board of
Directors. Information on the number of meetings and meeting attendance by members of the Board of Commissioners
is as follows:
Internal Meetings of Joint meetings with
GMS
the Board of Commissioners the Board of Directors
Name Position 2024
Number of Number of Attendance Number of Number of Attendance
Annual
Meeting Meeting (%) Meeting Meeting (%)
GMS
Hermanto President
6 6 100.00 12 11 91.67
Tanoko Commissioner
Mohammad
Independent
Noor Rachman 6 6 100.00 12 11 91.67
Commissioner
Soejoeti
Competence Development of the Board of Commissioners
Policy on Competence Development of the Board of Commissioners
Avian Brands has adopted a policy that regulates the implementation of the Board of Commissioners’ competence
development program in order to improve the quality of supervision and direction to the Board of Directors. In accordance
with the Board of Commissioners Charter, members of the Board of Commissioners are required to consistently upgrade their
knowledge and competence, concerning the latest developments in economy, finance, related industries, regulations, and
other matters related to Avian Brands. This development program includes various activities, such as training and education
programs, seminars, visits, benchmarking, and brainstorming sessions.
Information concerning the competence development programs participated by members of the Board of Commissioners
throughout 2024 has been disclosed in the Company Profile Chapter, particularly in the Profile section of each member of
the Board of Commissioners.
Orientation Program for New Members of the Board of Commissioners
Avian Brands has implemented a policy that regulates the orientation program for newly appointed members of
the Board of Commissioners. The program is designed to provide new members of the Board of Commissioners with a
thorough understanding of Avian Brands’ complete profile, including its unique characteristics, core values, and the business
processes that underpin its operations. By obtaining an in-depth understanding of Avian Brands’ dynamics in a short amount
of time, the new members of the Board of Commissioners can effectively take on their roles and responsibilities in supporting
Avian Brands’ long-term vision and strategy. The orientation program for the newly appointed Board of Commissioners
includes, among others:
1. Knowledge of Avian Brands, among others:
a. Avian Brands’ Vision, Mission, purposes, and objectives;
b. Avian Brands’ strategy;
c. Avian Brands’ medium and long-term plans;
d. Avian Brands’ operational performance;
e. Avian Brands’ financial performance; and
f. Avian Brands’ risk management;
2. Knowledge concerning the designation of the Board of Commissioners, among others:
a. Duties, responsibilities, and authorities of the Board of Commissioners;
b. Working time;
c. Relationship with members of the Board of Directors; and
d. Relevant rules/provisions.
Considering that the composition of Avian Brands’ Board of Commissioners in 2024 remains the same as the previous year,
this year, Avian Brands did not conduct any orientation programs for the new members of the Board of Commissioners.
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PT Avia Avian Tbk • 2024 Annual Report
Performance Assessment of the Board of Commissioners
Policy, Procedure, and Implementation of Performance Assessment
Policy concerning performance assessment of the Board of Commissioners is based on the Performance Assessment Policy of
the Board of Commissioners and the Board of Directors of Avian Brands, which was stipulated on December 27, 2021, as well
as other relevant regulations. With this policy, each member of the Board of Commissioners assesses the performance of the
Board of Commissioners collegially, rather than individually. This assessment is designed to evaluate the effectiveness and cooperation of
all members of the Board of Commissioners in carrying out their supervisory and advisory duties to the Board of Directors.
Assessor
The performance assessment of the Board of Commissioners is conducted periodically once a year by each member. This assessment
process takes into consideration the achievement of the agreed assessment aspects.
Aspects of Performance Assessment
The Board of Commissioners’ performance assessment involves various essential aspects. These aspects are designed to present
a comprehensive picture of the Board of Commissioners’ collegial contribution to achieving of Avian Brands’ strategic objectives.
The Board of Commissioners’ performance assessment aspects are described as follows:
1. Supervising the management of Avian Brands performed by the Board of Directors;
2. Reviewing, examining, and approving Avian Brands’ annual work plan;
3. Performing tasks specifically assigned to the Board of Commissioners in accordance with Avian Brands’ Articles of Association,
applicable laws and regulations, and/or GMS resolutions;
4. Performing duties and responsibilities in accordance with the provisions of Avian Brands’ Articles of Association and the resolutions of
the GMS;
5. Conforming to Avian Brands’ Articles of Association as well as applicable laws and regulations, and the obligations to perform duties in
accordance with the principles of professionalism, efficiency, transparency, independence, accountability, responsibility, and fairness,
including the convention of the Board of Commissioners Meetings in accordance with applicable regulations;
6. Evaluating performance during the financial year, assessed based on the effectiveness of supervision and contribution to achieving
Avian Brands’ strategic targets.
7. Measuring the Board of Commissioners’ competence in carrying out its duties and responsibilities, including knowledge and expertise
relevant to Avian Brands’ industry; and
8. Measuring level of attendance at Board of Commissioners meetings, both internal and joint meetings with the Board of Directors.
Assessment Results
Based on the 2024 performance assessment procedures and criteria, each Board of Commissioners member is assessed to have
optimally performed their duties and responsibilities. This assessment result reflects the Board of Commissioners’ competence and
dedication in supervising Avian Brands’ operations. Avian Brands’ robust performance in 2024 is a testament to effective supervision and
strategic direction from the Board of Commissioners. This success reflects the Board of Commissioners’ firm commitment to supporting
Avian Brands’ stability and growth, as well as strengthening stakeholders’ confidence in the Board of Commissioners’ capacity to safeguard
Avian Brands’ sustainability and future success. In addition, throughout 2024, the Board of Commissioners has convened 6 internal
meetings and 12 joint meetings with the Board of Directors with topics in accordance with the 2024 work plan and matters of concern to
the Board of Commissioners and the Board of Directors.
Performance Assessment of Committees Under the Board of Commissioners
Policy, Procedure, and Implementation of Performance Assessment
The performance assessment policy of committees under the Board of Commissioners aims to ensure that each committee has carried
out its duties and responsibilities effectively and efficiently. This assessment also aims to identify areas that require improvement and
development. Results of the assessment are subsequently factored into the reappointment process of committee members, ensuring that
only the most accomplished individuals may remain to support the Board of Commissioners in carrying out its supervisory and advisory
functions towards the Board of Directors.
Assessor
Performance assessment of committees under the Board of Commissioners is conducted by the Board of Commissioners periodically at
the end of each financial year.
Aspects of Performance Assessment
The performance assessment process for committees under the Board of Commissioners involves a careful evaluation of the assignment
reports and annual reports on the performance of each committee’s activities. Performance assessment aspects for committees under
the Board of Commissioners are described as follows:
1. Realization of work plan;
2. Attendance in committee meetings;
3. Quality of supervision; and
4. Recommendations provided.
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Results of Performance Assessment
The Audit Committee Based on the procedure and criteria for performance assessment conducted in 2024, the Audit
Committee has demonstrated effective performance in carrying out its duties and responsibilities,
related to overseeing and evaluating audits on the Financial Statements as well as on Avian Brands’
internal control system over all aspects of Avian Brands’ operations. The Audit Committee is also
assessed to have actively contributed to ensuring compliance with applicable audit standards, as well
as strengthening resilience and transparency in Avian Brands’ risk management process. In addition,
throughout 2024, the Audit Committee has convened 5 internal meetings with topics in accordance
with the 2024 work plan and matters of concern to the Audit Committee.
The Nomination and Based on the procedure and criteria for performance assessment conducted in 2024, the Nomination
Remuneration Committee and Remuneration Committee has demonstrated effective performance in supporting the functions
of the Board of Commissioners in terms of providing appropriate proposals regarding remuneration
and nomination systems and policies for the Board of Commissioners and the Board of Directors.
In addition, throughout 2024, the Nomination and Remuneration Committee has convened 3 internal
meetings with topics in accordance with the 2024 work plan and matters of concern to the Nomination
and Remuneration Committee.
The Good Corporate Based on the procedure and criteria for performance assessment conducted in 2024,
Governance Committee the Good Corporate Governance Committee has demonstrated effective performance in supporting
the functions of the Board of Commissioners, through addressing any reports of violations of the
Business Ethics and Code of Conduct with utmost rigor and professionalism. The Good Corporate
Governance Committee also offers effective recommendations for resolving violations, including
appropriate sanctions for the parties involved. The Good Corporate Governance Committee
has also assisted the Board of Commissioners in periodically reviewing Avian Brands’ ESG data.
The Good Corporate Governance Committee’s commitment to maintaining integrity, transparency,
and compliance with applicable rules, has contributed to strengthening Avian Brands’ GCG
implementation. These positive results reflect the Good Corporate Governance Committee’s
dedication to constantly improving ethical standards, compliance and ESG performance across all
aspects of Avian Brands’ operations. In addition, throughout 2024, the Good Corporate Committee
has convened 4 internal meetings with topics in accordance with the 2024 work plan and matters of
concern to the Good Corporate Governance Committee.
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The Board of Directors
The Board of Directors is an organ of Avian Brands that plays a role in managing Avian Brands’ operations in accordance with
the established Vision and Mission. The Board of Directors is fully responsible for making strategic decisions and managing
all aspects related to Avian Brands’ operations. The Board of Directors is also responsible for representing Avian Brands,
both inside and outside the court, in accordance with Avian Brands’ Articles of Association and prevailing laws and regulations.
As Avian Brands’ main representative, not only does the Board of Directors actively carry out its legal role in various forums,
but it also collaborates together to optimize the use of Avian Brands’ resources. This includes establishing general policies,
setting long-term goals, and ensuring Avian Brands’ sustainability and continued growth.
Each member of the Board of Directors has specific roles and responsibilities based on their division of duties and
authority. Nevertheless, the Board of Directors works within a collaborative framework to ensure that all strategic measures
and resolutions are aligned with Avian Brands’ Vision and deliver maximum benefits to all Avian Brands’ stakeholders.
With this approach, not only does the Board of Directors contribute to the effective achievement of Avian Brands’ business
objectives, but it also ensures transparency, accountability and responsibility in Avian Brands management.
The Board of Directors Charter
Avian Brands has the Board of Directors Charter in place, which was stipulated on August 16, 2021 (“Board of Directors Charter”).
The Board of Directors Charter is used as a guide for the Board of Directors in performing their work effectively, efficiently,
and transparently and based on the principles of GCG in realizing the Vision, Mission, and Values of Avian Brands, based on,
in particular, Avian Brands’ Articles of Association and, in general, the prevailing laws and regulations.
Composition of the Board of Directors
The composition of the Board of Directors, as stipulated in Article 13 paragraph (1) of Avian Brands’ Articles of Association,
consists of at least 3 members. This composition is selected by taking into account the diversity in terms of educational
background, professional experience, age, gender, and expertise to ensure that the Board of Directors possesses wide-ranging
capabilities and perspectives in carrying out Avian Brands management functions. Such diversity is also expected to contribute
to achieving Avian Brands’ strategic and operational objectives and ensure effective and consistent GCG implementation.
The Board of Directors’ appointment and dismissal process falls under the prerogative of the GMS, with the Board of Directors
having a 5-year term of office. In 2024, the composition of the Board of Directors consists of 5 members, namely:
Name Position
Wijono Tanoko President Director
Ruslan Tanoko Vice President Director
Robert Christian Tanoko Director
Kurnia Hadi Sinanto Director
Angelica Tanisia Jozar Director
Dual Appointment of the Board of Directors
The Board of Directors Charter regulates the terms regarding dual appointments that the members of the Board of Directors
may hold. This aims to ensure that each member of the Board of Directors focuses on their duties and responsibilities in
Avian Brands, without any potential conflict of interest or overlap in decision-making. This arrangement supports transparency,
integrity, and effectiveness in Avian Brands management, so that adopted policies are consistent with GCG principles.
Information regarding the dual appointment of the Board of Directors is described as follows:
1. The Board of Directors members may hold dual appointments as:
a. The Board of Directors member in 1 other Issuer or Public Company;
b. The Board of Commissioners member in a maximum of 3 other Issuers or Public Companies; and
c. Committee member in a maximum of 5 committees in Avian Brands or other Public Company in which he/she is
a Board of Directors member or a Board of Commissioners member; and
2. Dual appointments mentioned in the points above may only be carried out provided that it does not conflict with other
laws and regulations.
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Independence
The Board of Directors always carries out its duties and responsibilities by prioritizing independence and without bias towards
any other party’s interests. Each member of the Board of Directors works with high of professionalism and prioritizes the
interests of Avian Brands and all parties involved. The Board of Directors’ independence assures that every decision is made
based on objective analysis, free from any party’s pressure or influence. This ensures that the implemented policies not only
support Avian Brands’ long-term growth, but also fulfill stakeholders’ expectations and needs in a fair and transparent manner.
Duties and Responsibilities of the Board of Directors
The duties and responsibilities of the Board of Directors are based on the Board of Directors Charter, which regulates the
authority in managing Avian Brands’ daily and strategic operations. The Board of Directors is fully responsible for taking strategic
decisions to achieve Avian Brands’ Vision and Mission. The Board of Directors plays a key role in designing and executing
business strategies, managing risks, overseeing finances, and ensuring compliance with applicable regulations. The Board of
Directors is also tasked with maintaining high ethical standards, ensuring transparency in reporting, and maintaining good
relationships with all stakeholders. Further information on the duties and responsibilities of the Board of Directors is described
as follows:
1. Executing, and bearing the responsibilities for, the management of Avian Brands for Avian Brands’ interests in accordance
with the purposes and objectives of Avian Brands which have been stipulated in the Articles of Association;
2. Managing Avian Brands in accordance with the authorities and responsibilities as stipulated in the Articles of Association
and the prevailing laws and regulations;
3. Managing Avian Brands’ assets in accordance with the prevailing laws and regulations;
4. Implementing risk management system and GCG principles in each of Avian Brands’ business activities at all organizational
levels or stages;
5. Establishing Avian Brands’ organizational structure and working procedures;
6. Convening Annual GMS and other GMS in accordance with the Articles of Association as well as the laws and regulations;
and
7. Forming supporting committees in accordance with the prevailing laws and regulations, and evaluating the performance
of such committees at the end of each financial year.
Division of Duties of the Board of Directors
The Board of Directors also has a division of duties among each member as stipulated in the Circular Decree of the Board of
Directors No. 013/AA/SK/DIR/IX/2023 dated September 20, 2023. This division is aimed to ensure that each member of the
Board of Directors can carry out their duties and responsibilities effectively and efficiently. Therefore, each individual on the
Board of Directors has a clear role in managing various operational and strategic aspects of Avian Brands, ensuring timely
decision-making, and directing the achievement of Avian Brands’ short-term and long-term goals. The duties and responsibilities
of each member of the Board of Directors are described as follows:
Name Position Duties and Responsibilities
Wijono Tanoko President Director Mr. Wijono is responsible for the operation of Avian Brands as a whole. The President Director
oversees the other four Directors.
Ruslan Tanoko Vice President Mr. Ruslan holds the responsibility as the Vice President Director and has the duties and
Director functions concerning Avian Brands’ business development including sales and marketing,
as well as overseeing Avian Brands’ Information Technology Division, Sales Division,
and Marketing Division.
Robert Christian Director Mr. Robert is responsible for and has the duties and functions concerning Avian Brands’
Tanoko operational activities and overseeing the Operations Division, including the Department of
Procurement, Strategic Management System, and Sustainability.
Kurnia Hadi Director Mr. Hadi is responsible for and has the duties and functions concerning the management of
Sinanto Avian Brands’ finances, accounting, taxes, and investor relations.
Angelica Tanisia Director Mrs. Angel is responsible for and has the duties and functions for developing Avian Brands’
Jozar business in the Research, Development & Innovation sector.
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The Board of Directors Meeting
Meeting Policy
The Board of Directors implements its meeting policy in accordance with the provisions stipulated in POJK No. 33/2014
and Avian Brands’ Articles of Association. Under this policy, internal meetings must be convened at least once every month.
Meanwhile, joint meetings between the Board of Commissioners and the Board of Directors are scheduled to convene no fewer
than once every four months. These two types of meetings are essential to ensure that all decisions and steps taken, are aligned
with Avian Brands’ Vision, Mission and Values.
Meeting Convention
Throughout 2024, the Board of Directors has convened 12 internal meetings and 12 joint meetings with the Board of
Commissioners. Information regarding the number of meetings and meeting attendance by members of the Board of Directors
is as follows:
Internal Meetings of Joint meetings with
GMS
the Board of Directors the Board of Commissioners
Name Position 2024
Number of Number of Attendance Number of Number of Attendance
Annual
Meeting Meeting (%) Meeting Meeting (%)
GMS
President
Wijono Tanoko 12 12 100.00 12 9 75.00
Director
Vice President
Ruslan Tanoko 12 12 100.00 12 12 100.00
Director
Robert Christian
Director 12 11 91.67 12 11 91.67
Tanoko
Kurnia Hadi
Director 12 11 91.67 12 12 100.00
Sinanto
Angelica
Director 12 11 91.67 12 11 91.67
Tanisia Jozar
Competence Development of the Board of Directors
Policy on the Competence Development of the Board of Directors
Avian Brands has adopted a policy that regulates the implementation of the Board of Directors’ competence development
program in order to improve the quality of Avian Brands management. In accordance with the Board of Directors Charter,
members of the Board of Directors are required to consistently upgrade their knowledge and competence, concerning
the latest developments in economy, finance, related industries, regulations, and other matters related to Avian Brands.
This development program includes various activities, such as training and education programs, seminars, visits, benchmarking,
and brainstorming sessions.
Information related to the competence development programs participated by members of Avian Brands’ Board of Directors
throughout 2024 has been disclosed in the Company Profile Chapter, in particular the Profile section of each member of
the Board of Directors.
Orientation Program for New Members of the Board of Directors
Avian Brands has implemented a policy that regulates the orientation program for newly appointed members of
the Board of Directors. The program is designed to provide new members of the Board of Directors with a thorough
understanding of Avian Brands’ complete profile, including its unique characteristics, core values, and the business processes
that underpin its operations. By obtaining an in-depth understanding of Avian Brands’ dynamics in a short amount of time,
the new members of the Board of Directors can effectively take on their roles and responsibilities in supporting Avian Brands’
long-term vision and strategy. The orientation program for newly appointed Board of Directors includes, among others:
1. Knowledge of Avian Brands, among others:
a. Avian Brands’ Vision, Mission, purposes, and objectives; d. Avian Brands’ operational performance;
b. Avian Brands’ strategy; e. Avian Brands’ financial performance; and
c. Avian Brands’ medium and long-term plans; f. Avian Brands’ risk management;
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2. Knowledge concerning the designation of the Board of Directors, among others:
a. Duties, responsibilities, and authorities of the Board of Directors;
b. Working time;
c. Relationships with members of the Board of Commissioners; and
d. Relevant rules/provisions.
Considering that the composition of Avian Brands’ Board of Directors in 2024 remains the same as the previous year, this year,
Avian Brands did not conduct any orientation programs for the new members of the Board of Directors.
Performance Assessment of the Board of Directors
Policy, Procedure, and Implementation of Performance Assessment
Policy concerning performance assessment of the Board of Directors is based on the Performance Assessment Policy of
the Board of Commissioners and the Board of Directors of Avian Brands which was stipulated on December 27, 2021, as well as other
relevant regulations. With this policy, each member of the Board of Commissioners and the Board of Directors assesses the performance
of the Board of Directors collegially, rather than individually. This assessment is designed to assess the effectiveness and cooperation
of all members of the Board of Directors in carrying out Avian Brands management.
Assessor
The performance assessment of the Board of Directors is conducted periodically once a year by each member of
the Board of Commissioners. In this regard, each member of the Board of Directors submits a collegial assessment of
the Board of Directors to evaluate the implementation of duties and achievement of targets throughout the financial year.
This assessment process takes into consideration the achievement of the agreed assessment aspects.
Aspects of Performance Assessment
The Board of Directors’ performance assessment involves various essential aspects. These aspects are designed to present
a comprehensive picture of the Board of Directors’ collegial contribution to achieving Avian Brands’ strategic objectives. The Board of
Directors’ performance assessment aspects are described as follows:
1. Leading, managing, and controlling Avian Brands in accordance with Avian Brands’ objectives;
2. Making efforts to improve the efficiency and effectiveness of Avian Brands;
3. Controlling, maintaining, and managing Avian Brands’ assets;
4. Formulating an annual work plan that contains Avian Brands’ annual budget and submitting the plan to the Board of Commissioners for
approval before the start of the next financial year;
5. Performing their duties and responsibilities in accordance with the provisions of Avian Brands’ Articles of Association and the resolutions
of the GMS;
6. Conforming to Avian Brands’ Articles of Association as well as prevailing laws and regulations, and the obligations to perform duties in
accordance with the principles of professionalism, efficiency, transparency, independence, accountability, responsibility, and fairness,
including the convention of the Board of Directors Meetings in accordance with applicable regulations;
7. Evaluating performance during the financial year, assessed based on the achievement of Avian Brands’ operational and financial targets;
8. Measuring the Board of Directors’ competence in carrying out its duties and responsibilities, including knowledge and expertise relevant
to Avian Brands’ industry; and
9. Measuring level of attendance at Board of Directors meetings, both internal and joint meetings with the Board of Commissioners.
Results of Performance Assessment
Based on the 2024 performance assessment procedures and criteria, the Board of Directors are assessed to have demonstrated proper
performance of their duties and responsibilities. The Board of Directors is deemed to have successfully implemented business strategies
that are aligned with the work plan and budget set by Avian Brands. This success reflects the Board of Directors’ commitment and
competence in effectively managing Avian Brands’ resources and ensuring that all strategic initiatives are optimally executed to achieve
Avian Brands’ objectives. This evaluation also confirms that the Board of Directors has played a key role in addressing business challenges
and driving Avian Brands’ performance towards a better direction. In addition, throughout 2024, the Board of Directors has convened
12 internal meetings and 12 joint meetings with the Board of Commissioners with topics in accordance with the 2024 work plan and
matters of concern to the Board of Commissioners and the Board of Directors.
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Performance Assessment of Organs Under the Board of Directors
Policy, Procedure, and Implementation of Performance Assessment
The performance assessment policy of organs under the Board of Directors aims to ensure that each organ has carried out its duties
and responsibilities effectively and efficiently. This assessment also aims to identify areas that require improvement and development.
Results of the assessment are subsequently factored into the reappointment process of members of organs supporting the Board of
Directors, ensuring that only the most accomplished individuals may remain to support the Board of Directors in carrying out Avian
Brands management functions.
Assessor
Performance assessment of organs under the Board of Directors is conducted by the Board of Directors periodically at the end of each
financial year.
Aspects of Performance Assessment
The performance assessment process for organs under the Board of Directors involves a careful evaluation of the assignment reports
and annual reports on the performance of each organ’s activities. The performance assessment aspects for organs under the Board of
Directors are described as follows:
1. Realization of the implementation of duties and responsibilities;
2. Competence possessed;
3. Meeting attendance; and
4. Recommendations provided.
Results of Performance Assessment
The Related Party Transaction Based on the 2024 performance assessment procedures and criteria, the Related Party Transaction
Committee Committee has effectively supported the Board of Directors in providing constructive input and advice
on affiliated party transactions conducted by Avian Brands and its Subsidiaries. The Related Party
Transactions Committee is also assessed to have ensured that all affiliated party transactions are carried
out in accordance with customary business practices, comply with applicable laws and regulations,
and fulfill the arm’s length transaction principles. In addition, throughout 2024, the Related Party
Transactions Committee has convened 3 internal meetings with topics in accordance with the 2024
work plan and matters of concern to the Related Party Transactions Committee.
The Corporate Secretary Based on the 2024 performance assessment procedures and criteria, the Corporate Secretary is assessed
to have demonstrated good performance. The Corporate Secretary is assessed to have actively followed
the latest developments in the capital market and ensured Avian Brands’ compliance with prevailing laws
and regulations. In addition, the Corporate Secretary has also provided recommendations and inputs
to the Board of Directors and the Board of Commissioners, thus ensuring that all policies and actions
taken by Avian Brands are in accordance with existing regulations. The Corporate Secretary also plays an
active role in attending and taking minutes at Board of Commissioners and Board of Directors meetings,
both internal and joint meetings, as well as at the committee meetings.
The Internal Audit Unit Based on the 2024 performance assessment procedures and criteria, the Internal Audit Unit is
assessed to have demonstrated good performance. The Internal Audit Unit has successfully assisted
the Board of Directors in implementing an internal control system, risk management, and GCG
implementation in all aspects of Avian Brands’ business. The Internal Audit Unit has also demonstrated
a strong commitment to ensuring that every process and operation runs in accordance with established
standards, thereby increasing organizational effectiveness and efficiency. In addition, throughout 2024,
the Internal Audit Unit has convened 12 meetings with the members of the Board of Directors,
3 meetings with the Audit Committee, and 2 meetings with the Public Accounting Firm, with topics in
accordance with the 2024 work plan and matters of concern to the Internal Audit Unit.
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The Board of Commissioners and
the Board of Directors Diversity Policy
Avian Brands has a policy concerning the diversity of the Board of Commissioners and the Board of Directors, as outlined in the
Board of Commissioners Charter and the Board of Directors Charter. Referring to the Charters, the composition of the incumbent
members of the Board of Commissioners and Board of Directors is required to have a fairly diverse composition, in terms of
age, educational background, expertise, and experience, which are needed to implement their duties and responsibilities.
This diversity commitment is not only to comply with applicable regulations, but is also part of Avian Brands’ strategy to enrich
the perspective and quality of decision-making at the upper management level.
Avian Brands recognizes that diversity at all levels, including upper management, is critical to promoting effectiveness
and innovation. By emphasizing equality, Avian Brands strives to create an inclusive work environment, where various
perspectives and backgrounds are allowed to provide maximum contribution. Therefore, the Board of Commissioners and
Board of Directors are able to view problems and opportunities from various perspectives which will in turn support
the performance and sustainability of Avian Brands. The diversity of composition of Avian Brands’ Board of Commissioners and
the Board of Directors as of December 31, 2024 is described as follows:
Educational
Name Position Citizenship Gender Age
Background and Skills
Hermanto Tanoko President Commissioner Indonesian Male 62 Years Old Management
Mohammad Noor Independent
Indonesian Male 67 Years Old Economy
Rachman Soejoeti Commissioner
Wijono Tanoko President Director Indonesian Male 72 Years Old Sales and Marketing
Ruslan Tanoko Vice President Director Indonesian Male 49 Years Old Chemical Engineering
Robert Christian Tanoko Director Indonesian Male 39 Years Old Business and Trading
Kurnia Hadi Sinanto Director Indonesian Male 55 Years Old Accounting
Angelica Tanisia Jozar Director Indonesian Female 43 Years Old Engineering
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Nomination and Remuneration of the Board
of Commissioners and the Board of Directors
Nomination of the Board of Commissioners and the Board of Directors
Policy and Procedure of Nomination of the Board of Commissioners and the Board of Directors
The nomination policies and procedures for Avian Brands’ Board of Commissioners and Board of Directors, are meticulously
administered to ensure selection of suitable, competent candidates who are suited to Avian Brands’ needs and long-term
strategy. The nomination process begins with the identification of needs based on an analysis of the competence and expertise
required to fill the positions on the Board of Commissioners and the Board of Directors. This involves an in-depth evaluation of
the qualifications, experience and professional track record of potential candidates.
The nomination procedure is also assisted by the Nomination and Remuneration Committee, which is responsible for overseeing
and recommending the best candidates to the Board of Commissioners. The Nomination and Remuneration Committee
conducts preliminary selection by considering various factors, such as integrity, leadership, industry expertise, and ability to
advance the interests of Avian Brands and stakeholders. Further information on Avian Brands’ Board of Commissioners and
Board of Directors nomination procedure is described as follows:
1. The Nomination and Remuneration Committee (“Committee”) receives proposals from Shareholders/members of the
Board of Commissioners/members of the Board of Directors regarding the nominations of the Board of Commissioners
and/or the Board of Directors;
2. The Committee discusses the referred proposal in the Committee meeting. The discussion is stated in the minutes of the
Committee meeting. During the meeting, several things are considered, including:
a. Reasons and/or considerations for the proposal;
b. Qualifications of the candidate in accordance with the relevant proposals; and
c. Requirements in accordance with Avian Brands’ Articles of Association, the Board of Commissioners Charter, and/or
the Board of Directors Charter;
3. After deliberation, the Committee provides recommendations to the Board of Commissioners. The recommendation is
stated in the form of a Committee Decree;
4. Based on the recommendation from the Committee, the Board of Commissioners decides to nominate candidates for
the Board of Commissioners and/or the Board of Directors to the chairman of the GMS. The resolution of the Board of
Commissioners is stated in the form of the Board of Commissioners Decree; and
5. The chairman of the GMS determines the composition and/or changes in the members of the Board of Commissioners
and/or the Board of Directors of Avian Brands. The resolution of the GMS is stated in the Minutes of the GMS.
Transparency and accountability are the guiding principles at every stage of the nomination process. Avian Brands strictly
upholds the principles of independence and objectivity in the selection process, ensuring that the selected candidates are the
most qualified and best suited to Avian Brands’ Vision and Mission. With these structured nomination policies and procedures,
Avian Brands is committed to building a competent and professional Board of Commissioners and Board of Directors with high
integrity, capable of leading Avian Brands toward long-term growth and sustainability.
Remuneration of the Board of Commissioners and the Board of Directors
Procedure and Basis of Remuneration Determination of the Board of Commissioners
and the Board of Directors
The procedure and basis for determining remuneration for Avian Brands’ Board of Commissioners and Board of Directors,
are carefully regulated to ensure fairness, transparency, and consistency with each member’s performance and responsibilities.
This procedure is subject to GMS resolution, which authority may be delegated to the Board of Commissioners by taking into
account the Nomination and Remuneration Committee’s opinion and recommendation. Points of consideration in determining
the remuneration amount for the Board of Commissioners and Board of Directors are described as follows:
1. The prevailing remuneration in the industry, in accordance with Avian Brands’ business activities and business scale
in the industry;
2. Duties, responsibilities, and authorities of the Board of Commissioners and the Board of Directors in regard to the goals
achievement and performance of Avian Brands;
3. Target and performance of each member of the Board of Commissioners and Board of Directors; and
4. The balance between fixed and variable benefits.
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Remuneration Structure and Amount
The remuneration structure received by Avian Brands’Board of Commissioners and the Board of Directors consists of:
Allowances in the Other Salary Discretionary
Form of Natura Allowances Bonus
Information concerning the amount of remuneration received by Avian Brands’ Board of Commissioners and the Board of
Directors in 2024 is disclosed as follows:
(in millions of Rupiah)
Recipient Total Remuneration*
The Board of Commissioners 32,249
The Board of Directors 60,661
Total 92,910
* Other than remuneration received by the Board of Commissioners and the Board of Directors of Avian Brands’ Subsidiaries.
Sharia Supervisory Board
Until the end of 2024, Avian Brands does not have a Sharia Supervisory Board under the consideration that the products and
services produced, the management system, fund management, and investment policies carried out by Avian Brands have not
fully implemented sharia principles.
Committees Under the Board
of Commissioners
The Board of Commissioners has 3 committees supporting its supervisory and advisory functions to the Board of Directors,
namely the Audit Committee, Nomination and Remuneration Committee, and Good Corporate Governance Committee.
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The Audit Committee
The Audit Committee is a supporting committee of the Board of Commissioners, established to support and strengthen
the supervisory and evaluation function of Avian Brands’ internal control system. The Audit Committee is also tasked with
ensuring that all internal control mechanisms run properly to prevent and detect potential irregularities and errors in
Avian Brands’ operations. Furthermore, the Audit Committee is responsible for assessing the quality of disclosure and accuracy
of financial reporting to ensure that the financial information presented by Avian Brands is accurate and reliable. In carrying
out its duties, the Audit Committee also closely reviews the scope, accuracy, independence, and objectivity of the appointed
public accountants to ensure they work free from pressure or influence from any party.
The Audit Committee Charter
Avian Brands has an Audit Committee Charter in place, which was stipulated on August 16, 2021 (“Audit Committee
Charter”). The Audit Committee Charter was formulated to ensure that the Audit Committee is able to perform its duties and
responsibilities efficiently, effectively, transparently and independently, accountably, and acceptable to all stakeholders.
Composition of the Audit Committee
The composition of Avian Brands’ Audit Committee is regulated in the Audit Committee Charter, under which the Audit
Committee must consist of at least 3 members, with an Independent Commissioner acting as Chairman and other members
from independent parties. One member of the Audit Committee shall have expertise and experience in accounting and/or
finance, while the other members shall have expertise in law or capital markets as well as a strong understanding of GCG.
All members of the Audit Committee must meet the competence and independence requirements as stipulated in
OJK Regulation No. 55/POJK.04/2015 concerning the Establishment and Working Guidelines of Audit Committees.
The appointment and dismissal of the Audit Committee members is carried out by the Board of Commissioners by virtue
of its decree. Members of the Audit Committee may be dismissed if they no longer meet the established performance standards
or are deemed incompetent in carrying out their duties. Dismissal may also occur if the Board of Commissioners determines
that such member no longer acts independently or has violated the applicable regulations. In 2024, the composition of the
Audit Committee consisted of 3 members, namely:
Name Position
Mohammad Noor Rachman Soejoeti Chairman of the Audit Committee
Sammy Tony Saul Lalamentik Member of the Audit Committee
Wardiman* Member of the Audit Committee
*) Term of office as Member of the Audit Committee commenced on September 17, 2024 replacing Mr. Fitradewata Teramihardja.
With this clear structure and mechanism in place, the Audit Committee is expected to effectively carry out its supervisory and
evaluation functions, to ensure the quality of financial disclosure and reporting, to review the scope, accuracy, independence,
and objectivity of the public accountant, and to monitor compliance with applicable laws and regulations.
Profile of the Audit Committee
The profile of each member of the Audit Committee is described as follows:
MOHAMMAD NOOR RACHMAN SOEJOETI
Chairman of the Audit Committee
Term of Office and Basis of Appointment
2021 – 2026: The Board of Commissioners Decree of Avian Brands No. 023/AA/DIR/VI/2021 dated August 16, 2021.
The complete profile of the Chairman of the Audit Committee can be found in the Profile of the Board of Commissioners
section of this Annual Report.
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SAMMY TONY SAUL
LALAMENTIK
Member of the Audit Committee
Indonesian, 62 years old.
Term of Office and Basis of Appointment
2021 – 2026:
2021 – 2026: The Board of Commissioners Decree of Avian Brands No. 023/AA/DIR/VI/2021 dated August 16, 2021.
Educational Background
Diploma III in Accounting from Sekolah Tinggi Akuntansi Negara (“STAN”), Tangerang in 1984.
Certifications
Financial Services Sector Supervisory Certification (Sektor Jasa Keuangan or “SJK”) Level 2.
Work Experiences
• Examiner of Inspectorate General of the Ministry of Finance (1984 - 1989);
• Executing officer of the Bureau of Brokerage Development for the Capital Market Implementing Agencies
(1989 - 1991);
• Head of Sub Division of Bureau of Corporate Financial Assessment I - Capital Market Implementing Agencies
Services Sector (1991 - 2000);
• Head of Sub Division of Bureau of Accounting Standards and Disclosure of Capital Market Supervisory
Agencies (2000 - 2006);
• Head of Sub Division of Bureau of Real Sector Company Valuation of Capital Market and Financial Institutions
Supervisory Agencies (2006 - 2012);
• Head of Sub Division of the Directorate of Real Sector Company Valuation of Financial Services Authority –
Capital Market Sector Supervision (2013 - 2014);
• Head of Sub Division of the Directorate of Capital Market Supporting Institutions and Professionals of Financial
Services Authority - PM2B Department (2014 - 2020); and
• Ad interim Head of Accountant Compliance – DLPM of Financial Services Authority – PM2B Department
(2016 - 2018).
Dual Appointments
• Commissioner of PT Kredit Rating Indonesia (2020 - present);
• Independent Commissioner of PT Super Energy Tbk (2020 - present);
• Independent Commissioner and Chairman of the Audit Committee of PT Perdana Karya Perkasa Tbk
(2021 - present);
• Member of the Audit Committee of PT Nusantara Sejahtera Raya Tbk (2023 – present);
• Independent Commissioner of PT Surya Fajar Urun Dana (2024 – present);
• Independent Commissioner of PT OSO Sekuritas Indonesia (2024 – present); and
• Independent Commissioner of PT Arsy Buana Travelindo Tbk (2024 – present).
Education/Training in 2024
-
Affiliation
Is not an affiliate of members of the Board of Commissioners, members of the Board of Directors, as well as Main and
Controlling Shareholders.
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WARDIMAN*
Member of the Audit Committee
Indonesian, 52 years old.
Term of Office and Basis of Appointment
2024 – 2026:
Minutes of the Meeting of the Board of Commissioners of Avian Brands No. 004/AA/BAR/KOM/IX/2024 dated
September 17, 2024.
Educational Background
• Diploma III in Accounting from Polytechnic of Sriwijaya University, Palembang in 1994; and
• Bachelor of Economics majoring in Accounting from the University of Indonesia Extension Program, Depok in 1998.
Certifications
• Chartered Accountant (“CA”) certification; and
• Level B Tax Consultant Practicing License.
Work Experiences
• Accounting Staff of PT Eka Sinar Abadi (1995 – 1997);
• Accounts Payable Supervisor of PT Carti Satria Megaswalayan (Carrefour) (1998 – 1999);
• Senior Auditor of KAP Hans Tuanakkota & Mustofa (Deloitte Touche) (1999 – 2001);
• Accounting Manager of Ristia Group (2001 – 2003);
• Manager of Internal Control and Corporate Finance of Yuwono Group (2003 – 2006);
• Financial Controller of Vision Group (2006 – 2013); and
• Senior Manager of PT Mitra Konsultan (2014 – 2019).
Dual Appointments
• Director of Finzone Group (2019 – present);
• Member of Audit Committee of PT Victoria Care Indonesia Tbk (2020 - present);
• Member of Audit Committee of PT Superior Prima Sukses Tbk Tbk (2024 - present); and
• Member of Related Party Transaction Committee of Avian Brands (2024 - present).
Education/Training in 2024
• In-depth Discussion on the Policy and Technicalities of Filing Annual Corporate Income Tax Returns, by the
Indonesian Institute of Accountants (Ikatan Akuntan Indonesia or “IAI”);
• Taxation Aspects in Insolvency and Suspension of Debt Payment Obligations, by the Indonesian Tax Consultants
Association (Ikatan Konsultan Pajak Indonesia or “IKPI”);
• Beyond Core Tax System: IT-based Monitoring and Services, by IKPI;
• Implementation of Tax Management and Creative Accounting, by IAI;
• Latest Regulatory Updates on Taxation Aspects in Investment, by IKPI;
• Understanding Taxation Aspects in Business, Investment, and Operational Cooperation, by IAI; and
• In-depth Discussion on Drafting Tax Consultant Service Contract with Client and Legal Protection of Tax
Consultant, by IKPI.
Affiliation
Is not an affiliate of members of the Board of Commissioners, members of the Board of Directors, as well as Main and
Controlling Shareholders.
*) Term of office as Member of the Audit Committee commenced on September 17, 2024 replacing Mr. Fitradewata Teramihardja.
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Duties and Responsibilities of the Audit Committee
The duties and responsibilities of the Audit Committee are based on the Audit Committee Charter as well as other relevant
regulations, which stipulate its crucial role in ensuring effective supervision of Avian Brands’ internal control system.
The Audit Committee is responsible for evaluating and monitoring the implementation of internal controls, assessing the
quality of financial reporting, and ensuring that all accounting and auditing practices comply with applicable standards.
The Audit Committee also reviews the scope and independence of the public accountants carrying out the audit, as well as
oversees compliance with relevant laws and regulations. Further information on the duties and responsibilities of the Audit
Committee based on the Audit Committee Charter and other relevant regulations, is described as follows:
1. Reviewing the financial information to be issued by of errors in the resolutions of the Board of Directors
Avian Brands to the public and/or authorities, including meeting or deviations in the implementation of the
financial statements, projections, and other reports resolutions of the Board of Directors meeting;
related to Avian Brands’ financial information; 9. Conducting inspections, either by the Audit Committee
2. Reviewing compliance with internal regulations as itself or by assigning third parties, if necessary;
well as laws and regulations related to Avian Brands’ 10. Reviewing and providing advice to the Board of
activities, and submitting the reviews to the Board of Commissioners regarding potential conflicts of interest
Commissioners; in Avian Brands;
3. Providing independent opinions in the event of differing 11. Assisting the Board of Commissioners in carrying out
opinions between the management and the accountant active supervision on the compliance function by:
on the services provided; a. evaluating the implementation of Avian Brands’
4. Providing recommendations to the Board of compliance function with internal regulations as
Commissioners regarding the appointment of a well as laws and regulations relating to Avian Brands’
Public Accountant based on independence, scope of activities at least twice in a year; and
assignment, and remuneration for services; b. providing suggestions to improve the quality of
5. Discussing audit plans including the nature and scope of Avian Brands’ compliance function;
the audit; 12. Providing recommendations to the Board of
6. Reviewing the adequacy of the audit by considering all Commissioners regarding the appointment, dismissal,
significant risks; and performance assessment of the Chairman of the
7. Reviewing the planning, implementation, and Internal Audit Unit;
supervising the execution of follow-ups by the Board of 13. Maintaining the confidentiality of Avian Brands’
Directors on the findings of both internal and external documents, data, and information;
auditors; 14. Reviewing the implementation of risk management
8. Reviewing and reporting, to the Board of Commissioners, performed by the Board of Directors; and
complaints related to Avian Brands’ accounting and 15. Providing recommendations on the dismissal of external
financial reporting processes, including allegations auditors.
Statement of Independence of the Audit Committee
Each Audit Committee member consistently upholds the principles of independence and prudence in carrying out their duties
and responsibilities. Commitment to independence is reflected in the membership structure of the Audit Committee, in which
the Chairman of the Audit Committee is an Independent Commissioner. Moreover, the other 2 members are independent
external parties, ensuring that all Audit Committee activities are conducted free of conflicts of interest and with high objectivity.
Each member of the Audit Committee has satisfied the independence requirements in accordance with the regulations and
rules of GCG practice, namely that the members of the Audit Committee:
1. Are not parties who work or have the authority and 3. Have no affiliation with the Board of Commissioners, the
responsibility to plan, lead, control, or supervise Avian Board of Directors, or Main and Controlling Shareholders
Brands’ activities within the last 6 months; of Avian Brands; and
2. Do not hold Avian Brands’ shares either directly or 4. Have no business relationship, either directly or
indirectly in Avian Brands; indirectly, related to Avian Brands’ business activities.
The Audit Committee Meeting
Meeting Policy
Policy regarding the convening of Audit Committee meetings is stipulated in the Audit Committee Charter, under which
meetings must be convened at least once every 3 months. For a meeting to be deemed valid, it must be attended by at
least 51% of the total members, including the attendance of at least one Independent Commissioner. This ensures that each
Audit Committee meeting is conducted with adequate participation and representation to ensure effective and accountable
decision-making.
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Meeting Convention
Throughout 2024, the Audit Committee has convened 5 meetings. Information regarding the number of meetings and meeting
attendance by members of the Audit Committee is as follows:
Name Position Number of Meeting Total Attendance Attendance (%)
Mohammad Noor Chairman of the Audit
5 5 100.00
Rachman Soejoeti Committee
Sammy Tony Saul
Member of the Audit Committee 5 5 100.00
Lalamentik
Wardiman* Member of the Audit Committee 5 2 40.00
*) Term of office as Member of the Audit Committee commenced on September 17, 2024 replacing Mr. Fitradewata Teramihardja.
Competence Development of the Audit Committee
Avian Brands is consistently committed to improving the knowledge and competence of Audit Committee members
through continuous development programs. Each year, Audit Committee members participate in various training and
development programs designed to upgrade their knowledge and improve their ability to effectively carry out their duties and
responsibilities. This ensures that the Audit Committee remains alert to challenges and changes in the business and regulatory
environment. Information related to competence development programs attended by Audit Committee members throughout
2024 has been disclosed in the profile section of each Audit Committee member.
Performance of the Audit Committee’s Duties
The Audit Committee carries out its duties and responsibilities with utmost dedication and prudence in accordance with
applicable regulations and guidelines. Information regarding the performance of the Audit Committee’s duties carried out
throughout 2024, is described as follows:
1. Discussing the year-end audit results of the Consolidated Financial Statements of Avian Brands and its Subsidiaries for
the financial year ended December 31, 2023, by the Independent Auditor, KAP Tanudiredja, Wibisana, Rintis & Rekan
(a member firm of the global PwC network);
2. Reviewing the Consolidated Financial Statements of Avian Brands and its Subsidiaries for the March 31, 2024,
June 30, 2024, and September 30, 2024 period;
3. Evaluating the implementation of the provision of audit services on annual historical financial information by Public
Accountant and/or Public Accounting Firm for the 2023 financial year;
4. Providing recommendations for the appointment of a Public Accounting Firm that will audit the Financial Statements for
the 2024 financial year;
5. Reviewing the independence and objectivity of the Public Accounting Firm in conducting the audit for the 2024 financial
year;
6. Reviewing the implementation of the Internal Audit Unit’s work program and providing input to improve the efficiency and
effectiveness of the Internal Audit Unit;
7. Reviewing audit findings, both from internal and external auditors, and monitoring follow-up actions on audit findings;
and
8. Reviewing the effectiveness of the internal control system and providing input to encourage the creation of an effective
internal control system.
The Nomination and Remuneration Committee
The Nomination and Remuneration Committee is a supporting committee of the Board of Commissioners established to
ensure that Avian Brands’ nomination and remuneration process complies with the prevailing laws and regulations. It also
assists the implementation of supervisory functions to ensure objective, effective and efficient nomination and remuneration.
Further, the Nomination and Remuneration Committee focuses on improving the quality, competence, and responsibilities of
the Board of Commissioners and Board of Directors, allowing them to perform their duties optimally, in line with Avian Brands’
Vision and Mission. By having a Nomination and Remuneration Committee, Avian Brands is expected to achieve its strategic
objectives through transparent and accountable management, and to ensure that each decision concerning nomination and
remuneration contributes significantly to business growth and sustainability.
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The Nomination and Remuneration Committee Charter
Avian Brands has a Nomination and Remuneration Committee Charter in place, which was stipulated on August 16, 2021
(“Nomination and Remuneration Committee Charter”). The Nomination and Remuneration Committee Charter was formulated
to ensure that the Nomination and Remuneration Committee is able to perform its duties and responsibilities efficiently,
effectively, transparently and independently, accountably, and acceptable by all stakeholders.
The Composition of Nomination and Remuneration Committee
The composition of Avian Brands’ Nomination and Remuneration Committee is regulated in the Nomination and Remuneration
Charter, under which the Nomination and Remuneration Committee must consist of at least 3 members, with an Independent
Commissioner acting as Chairman. The appointment and dismissal of the Nomination and Remuneration Committee members
is carried out by the Board of Commissioners by virtue of its decree. Dismissal process of Nomination and Remuneration
Committee members is also clearly regulated, in which members may be dismissed upon expiration of their term of office
or if, as assessed by the Board of Commissioners, such members fail to meet predetermined performance standards or are
deemed incompetent in carrying out their duties. These arrangements are designed to ensure that the committee operates
with a high level of efficiency and effectiveness, and is capable of performing its supervisory function over the nomination
and remuneration process with a high degree of objectivity. In 2024, the composition of the Nomination and Remuneration
Committee consisted of 3 members, namely:
Name Position
Mohammad Noor Rachman Soejoeti Chairman of the Nomination and Remuneration Committee
Hermanto Tanoko Member of the Nomination and Remuneration Committee
Iwan Sigit Member of the Nomination and Remuneration Committee
Profile of the Nomination and Remuneration Committee
The profile of each member of the Nomination and Remuneration Committee is described as follows:
MOHAMMAD NOOR RACHMAN SOEJOETI
Chairman of the Nomination and Remuneration Committee
Term of Office and Basis of Appointment
2021 – 2026: The Board of Commissioners Decree of Avian Brands No. 023/AA/DIR/VI/2021 dated August 16, 2021.
The complete profile of the Chairman of the Nomination and Remuneration Committee can be found in the Profile of
the Board of Commissioners section of this Annual Report.
HERMANTO TANOKO
Member of the Nomination and Remuneration Committee
Term of Office and Basis of Appointment
2021 – 2026: The Board of Commissioners Decree of Avian Brands No. 023/AA/DIR/VI/2021 dated August 16, 2021.
The complete profile of the Member of the Nomination and Remuneration Committee can be found in the Profile of
the Board of Commissioners section of this Annual Report.
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IWAN SIGIT
Member of the Nomination and
Remuneration Committee
Indonesian, 52 years old.
Term of Office and Basis of Appointment
2021 – 2026:
The Board of Commissioners Decree of Avian Brands No. 033/AA/DIR/VIII/2021 dated August 31, 2021.
Educational Background
Bachelor of Industrial Statistics from Brawijaya University, Malang in 1997.
Certifications
-
Work Experiences
Operational General Manager of Avian Brands (2017 – 2021).
Dual Appointments
• Vice Director of Operations of Avian Brands (2021 - present); and
• Member of the Good Corporate Governance Committee of Avian Brands (2022 – present).
Education/Training in 2024
• Strategies for Achieving the Sustainable Development Goal Pillars by Paragon;
• Factory Visit by PT Theris Fire Protection;
• Socialization of INDI 4.0 Assistance by Avian Brands; and
• Safety Tank by PT BASF Indonesia.
Affiliation
Is not an affiliate of members of the Board of Commissioners, members of the Board of Directors, as well as Main and
Controlling Shareholders.
Duties and Responsibilities of the Nomination and Remuneration Committee
The duties and responsibilities of the Nomination and Remuneration Committee are based on the Nomination and
Remuneration Committee Charter, which sets forth its critical role to support the Board of Commissioners in various aspects
related to nomination and remuneration. One of the primary duties of the Nomination and Remuneration Committee is to
ensure an objective and transparent nomination process for members of the Board of Commissioners and Board of Directors,
taking into account the predetermined criteria to ensure that the selected candidates possess high competence and integrity.
The Nomination and Remuneration Committee is also responsible for formulating fair and competitive remuneration policies,
both for the Board of Commissioners and the Board of Directors, to ensure that the remuneration structure can stimulate optimal
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performance and is aligned with Avian Brands’ strategic objectives. Further information on the duties and responsibilities of
the Nomination and Remuneration Committee based on the Nomination and Remuneration Committee Charter, is described
as follows:
1. Providing recommendations to the Board of Commissioners concerning policy, amount, and structure of the remuneration
for the Board of Commissioners and the Board of Directors which will be a part of the Board of Commissioners’ Report to be
submitted to and then stipulated in the GMS;
2. Assisting the Board of Commissioners in performance assessment in relation to the suitability of remuneration received by
each member of the Board of Commissioners and the Board of Directors;
3. Providing recommendations to the Board of Commissioners regarding:
a. designation composition of the Board of Commissioners and the Board of Directors;
b. policy and criteria required in the nomination process of members of the Board of Commissioners and the Board of
Directors; and
c. policy on performance assessment for members of the Board of Commissioners and the Board of Directors;
4. Assisting the Board of Commissioners in assessing the performance of members of the Board of Commissioners and the
Board of Directors based on the benchmarks that have been stipulated as assessment considerations;
5. Providing recommendations to the Board of Commissioners regarding competence development programs for members
of the Board of Commissioners and the Board of Directors;
6. Providing proposals of qualified candidates as members of the Board of Commissioners and/or members of the Board of
Directors to the Board of Commissioners to be submitted to the GMS;
7. Performing tasks, other than the aforementioned, given by the Board of Commissioners in accordance with their functions
and duties from time to time as necessary; and
8. In carrying out its duties, the Nomination and Remuneration Committee is responsible to the Board of Commissioners and
must act independently.
Statement of Independence of the Nomination and Remuneration Committee
The Nomination and Remuneration Committee consistently upholds the principle of independence in carrying out its duties
and responsibilities. This independence is reflected in the Nomination and Remuneration Committee structure, in which the
Chairman is an Independent Commissioner with no affiliation with other members of the Board of Commissioners or the
Board of Directors. This ensures that evaluations and recommendations are made objectively and without influence from any
personal or group interests. The Nomination and Remuneration Committee is committed to conducting the entire nomination
and remuneration process transparently, fairly and in accordance with the GCG principles. This aims to maintain integrity and
trust in the supervisory and decision-making processes carried out by the Board of Commissioners and the Board of Directors,
and to ensure that all policies are implemented in line with the best interests of Avian Brands and its stakeholders.
The Nomination and Remuneration Committee Meeting
Meeting Policy
Policy regarding the convening of Nomination and Remuneration Committee meetings is stipulated in the Nomination and
Remuneration Committee Charter, under which meetings must be convened regularly with a minimum frequency of 1 time in
4 months. To ensure the validity and effectiveness of meetings, the attendance of a majority of Nomination and Remuneration
Committee members is required. This provision is formulated to ensure that each resolution adopted at the meeting is well-
founded and supported by the opinions of the majority of members, thus improving the quality of supervision and decision-
making process regarding nomination and remuneration.
Meeting Convention
Throughout 2024, the Nomination and Remuneration Committee has convened 3 meetings. Information regarding the number
of meetings and meeting attendance by members of the Nomination and Remuneration Committee is described as follows:
Name Position Number of Meeting Total Attendance Attendance (%)
Mohammad Noor Chairman of the Nomination
3 3 100.00
Rachman Soejoeti and Remuneration Committee
Member of the Nomination and
Hermanto Tanoko 3 3 100.00
Remuneration Committee
Member of the Nomination and
Iwan Sigit 3 3 100.00
Remuneration Committee
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Competence Development of the Nomination and Remuneration Committee
Avian Brands is consistently committed to improving the knowledge and competence of Nomination and Remuneration
Committee members through continuous development programs. Each year, Nomination and Remuneration Committee
members participate in various training and development programs designed to upgrade their knowledge and improve their
ability to effectively carry out their duties and responsibilities. This ensures that the Nomination and Remuneration Committee
remains alert to challenges and changes in the business and regulatory environment.
Information related to competence development programs attended by Nomination and Remuneration Committee members
throughout 2024 has been disclosed in the profile section of each Nomination and Remuneration Committee member.
Performance of the Nomination and Remuneration Committee’s Duties
Performance of the duties of the Nomination and Remuneration Committee is carried out with a focus on improving the
effectiveness and objectivity of supervisory functions over the nomination and remuneration process. Such duties are carried
out at all times with utmost dedication and prudence, in accordance with applicable regulations and guidelines. Information
regarding the performance of the Nomination and Remuneration Committee’s duties carried out throughout 2024 is described
as follows:
1. Reviewing the remuneration of the members of Avian Brands’ Board of Commissioners and Board of Directors for 2024;
2. Discussing the review of self-assessment results by each Board of Commissioners member regarding the collective
performance of the Board of Commissioners and the Board of Directors for the 2023 financial year;
3. Assisting the Board of Commissioners in performance assessment of the Board of Commissioners and the Board of Directors
for 2024;
4. Provide recommendations to the Board of Commissioners on competence development programs for members of the
Board of Commissioners and the Board of Directorsand
5. Performing other duties assigned by Avian Brands’ Board of Commissioners.
The Good Corporate Governance Committee
The Good Corporate Governance Committee is a supporting committee of the Board of Commissioners established to ensure
that Avian Brands’ Business Ethics and Code of Conduct have been implemented in every aspect of Avian Brands’ operations.
The Good Corporate Governance Committee also has the duties and responsibilities to receive and follow up reports of any
complaints of violations of Business Ethics and Code of Conduct committed by Avian Brands’ personnel. Accordingly, the
Good Corporate Governance Committee ensures that any violations are dealt with seriously, in accordance with established
procedures to maintain integrity and ethics in conducting business. The Good Corporate Governance Committee also plays
a role in overseeing implementation of Environmental, Social, and Governance (“ESG”) aspects, to ensure alignment with
Avian Brands’ sustainability principles. The Good Corporate Governance Committee is instrumental in supporting the Board
of Commissioners to maintain transparency, accountability and high standards of ethics in every aspect of Avian Brands
management, which in turn contributes to the achievement of Avian Brands’ Vision and Mission.
The Good Corporate Governance Committee Charter
In performing its duties and responsibilities, the Good Corporate Governance Committee is guided by Avian Brands’ Business
Ethics and Code of Conduct which have been stipulated on June 25, 2021, as last amended on March 24, 2022.
Composition of the Good Corporate Governance Committee
The Good Corporate Governance Committee consists of members appointed for a 3-year term of office, with members’
appointment and dismissal based on resolution of the Board of Commissioners. The Good Corporate Governance Committee
is chaired by the Operational Director, with permanent members comprising the Financial Director and Deputy Operational
Director. In addition to the permanent members, the Good Corporate Governance Committee also comprises Ad Hoc
members, i.e., division leaders in Avian Brands’ organization. Having these Ad Hoc members ensures that the committee
includes representatives from various divisions within Avian Brands, which assists in addressing specific issues and carrying
out specific tasks relating to governance. In 2024, the composition of the Good Corporate Governance Committee consisted
of 3 members, namely:
Name Position
Robert Christian Tanoko Chairman of the Good Corporate Governance
Kurnia Hadi Sinanto Member of the Good Corporate Governance
Iwan Sigit Member of the Good Corporate Governance
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Profile of the Good Corporate Governance Committee
The profile of each member of the Good Corporate Governance Committee is described as follows:
ROBERT CHRISTIAN TANOKO
Chairman of the Good Corporate Governance
Term of Office and Basis of Appointment
2023 – 2026: Minutes of Meeting of the Board of Commissioners of Avian Brands No. 004/AA/BAR/KOM/VIII/2023 dated
August 16, 2023.
The complete profile of the Chairman of the Good Corporate Governance Committee can be found in the Profile of the Board
of Directors section of this Annual Report.
KURNIA HADI SINANTO
Member of the Good Corporate Governance
Term of Office and Basis of Appointment
2023 – 2026: Minutes of Meeting of the Board of Commissioners of Avian Brands No. 004/AA/BAR/KOM/VIII/2023
dated August 16, 2023.
The complete profile of the Member of the Good Corporate Governance Committee can be found in the Profile of the Board of
Directors section of this Annual Report.
IWAN SIGIT
Member of the Good Corporate Governance
Term of Office and Basis of Appointment
2023 – 2026: Minutes of Meeting of the Board of Commissioners of Avian Brands No. 004/AA/BAR/KOM/VIII/2023
dated August 16, 2023
The complete profile of the Member of the Good Corporate Governance Committee can be found in the Profile of Member
of the Nomination and Remuneration Committee section in this Annual Report.
Duties and Responsibilities of the Good Corporate Governance Committee
The duties and responsibilities of the Good Corporate Governance Committee are based on the Business Ethics and Code of
Conduct as well as other relevant regulations that stipulate various essential aspects to ensure good and sustainable corporate
governance. One of the primary duties of the Good Corporate Governance Committee is to assist the Board of Commissioners
in carrying out its supervisory function over the enforcement of Avian Brands’ Business Ethics and Code of Conduct.
The Good Corporate Governance Committee is also responsible for receiving and following up on reports of any complaints
of violations of Business Ethics and Code of Conduct committed by Avian Brands’ personnel. Further information on the duties
and responsibilities of the Good Corporate Governance Committee, based on the Business Ethics and Code of Conduct and
other relevant regulations, is described as follows:
1. Conducting socialization activities to enforce Avian Brands’ Business Ethics and Code of Conduct to all Avian Brands’
Personnel as a form of prevention of violations of Avian Brands’ Business Ethics and Code of Conduct;
2. Receiving questions that arise from Avian Brands’ Personnel regarding the contents of Avian Brands’ Business Ethics and
Code of Conduct;
3. Receiving reports of any complaints against violations of Avian Brands’ Business Ethics and Code of Conduct by Avian
Brands’ Personnel;
4. Following up on any reports of violations of Avian Brands’Business Ethics and Code of Conduct;
5. Providing recommendations on resolutions of violations of Avian Brands’ Business Ethics and Code of Conduct to the Board
of Directors, including sanctions that will be imposed; and
6. Supervising the implementation of Environmental, Social, and Governance (“ESG”) aspects in Avian Brands’ operations,
including ensuring compliance with sustainability principles, supporting social and environmental initiatives,
and promoting good governance to increase value for stakeholders.
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Statement of Independence of the Good Corporate Governance Committee
The Good Corporate Governance Committee consistently upholds the principle of independence in carrying out its duties
and responsibilities. This is reflected in its membership composition which includes the Operations Director as chairman,
as well as permanent members consisting of the Finance Director and Deputy Operations Director, along with Ad Hoc members
consisting of division leaders within Avian Brands’ organization. The Good Corporate Governance Committee’s independence
ensures that each decision and recommendation is free from external influence or pressure, in order to prioritize Avian Brands’
best interests. The Good Corporate Governance Committee is also committed to complying with all applicable regulations and
governance standards as well as maintaining integrity in every aspect of Avian Brands’ operations.
The Good Corporate Governance Committee Meeting
Meeting Policy
Policy on convening Good Corporate Governance Committee meetings stipulates that meetings are convened periodically as
necessary, to ensure the enforcement of the Business Ethics and Code of Conduct. Meeting discussions also include an update
on Avian Brands’ ESG data for each quarter. The frequency of meetings is determined based on the urgency and complexity of
emerging issues related to compliance and corporate governance.
Meeting Convention
Throughout 2024, the Good Corporate Governance Committee has convened 4 meetings. Information regarding the number
of meetings and meeting attendance by members of the Good Corporate Governance Committee is described as follows:
Number of
Name Position Total Attendance Attendance (%)
Meeting
Chairman of the Good Corporate
Robert Christian Tanoko 4 4 100.00
Governance
Member Good Corporate
Kurnia Hadi Sinanto 4 4 100.00
Governance
Member Good Corporate
Iwan Sigit 4 4 100.00
Governance
Competence Development of the Good Corporate Governance Committee
Avian Brands is consistently committed to improving the knowledge and competence of Good Corporate Governance
Committee members through continuous development programs. Each year, Good Corporate Governance Committee
members participate in various training and development programs designed to upgrade their knowledge and improve their
ability to effectively carry out their duties and responsibilities. This ensures that the Good Corporate Governance Committee
remains alert to challenges and changes in the business and regulatory environment.
Information related to competence development programs attended by Good Corporate Governance Committee members
throughout 2024 has been disclosed in the profile section of each Good Corporate Governance Committee member.
Implementation of Duties of the Good Corporate Governance Committee
Implementation of the Good Corporate Governance Committee’s duties involves various aspects critical to ensure compliance
with the Business Ethics and Code of Conduct at all levels of the organization. The Good Corporate Governance Committee
receives and follows up on any reports or complaints related to ethical violations, conducts in-depth investigations,
and provides recommendations for settlement. Furthermore, the Good Corporate Governance Committee also prepares
periodic reports to the Board of Commissioners to deliver strategic inputs concerning continuous improvements that
Avian Brands needs to implement. Further information regarding the implementation of the Good Corporate Governance
Committee’s duties carried out throughout 2024, is described as follows:
1. Ensuring that every complaint of violation of Business Ethics and Code of Conduct received, is followed up with a thorough
investigation process based on the established facts, while ensuring full confidentiality protection of the whistleblower’s
identity to prevent possible retaliation or invasion of privacy;
2. Discussing summary of ESG data of Avian Brands and its Subsidiaries, for the period ended December 31, 2023,
March 31, 2024, June 30, 2024, and September 30, 2024 in relation to Avian Brands’ commitment to responsible business
conducts of sustainability;
3. Discussing results of assessment by EcoVadis, an international certification body, on Avian Brands’ sustainability performance
across environmental, labor and human rights, ethics, and procurement practices; and
4. Discussing the awards received by Avian Brands, namely ESG Award 2024 in the category of Best Issuer in the capital market
sector, organized by Yayasan Keanekaragaman Hayati Indonesia (“KEHATI”), ESG Award 2024 from Katadata, and Annual
Report Award 2023 from KNKG.
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Committees Under the Board of Directors
The Board of Directors has 1 supporting committee to assist in the implementation of Avian Brands management duties,
namely the Related Party Transaction Committee
The Related Party Transaction Committee
The Related Party Transaction Committee is a supporting committee of the Board of Directors established to assist the Board
of Directors in ensuring that any affiliated party transactions conducted by Avian Brands complies with generally accepted
business practices and prevailing laws and regulations. The Related Party Transaction Committee actively assesses and
supervises any affiliated party transactions, to ensure that they not only meet the standards of fairness and transparency,
but also adhere to the principles that ensure the interests of Avian Brands and its stakeholders. By upholding these principles,
the Related Party Transaction Committee promotes the creation of an ethical and accountable business environment,
while reducing risks that may arise from transactions that are inconsistent with applicable policies or regulations.
The Related Party Transaction Committee Charter
In performing its duties and responsibilities, the Related Party Transaction Committee is guided by the Financial Services
Authority Regulation No. 42/POJK.04/2020 concerning Affiliated Transactions and Conflict of Interest Transactions and the
Affiliated Transaction Guidelines established by Avian Brands on November 16, 2022.
Composition of the Related Party Transaction Committee
The composition of the Related Party Transaction Committee consists of 3 members, with 1 Chairman and 2 Members.
Appointment and dismissal of Related Party Transaction Committee Members is carried out directly by the Board of
Directors, acting as the main authority in determining the continuity of the Related Party Transaction Committee. Resolution
to dismiss a member may be taken upon expiry of his term of office or if the member does not meet the predetermined
performance standards. The Board of Directors ensures that each committee member possesses the necessary competence
and demonstrates satisfactory performance in carrying out their duties and responsibilities. In 2024, the composition of the
Related Party Transaction Committee consisted of 3 members, namely:
Name Position
Kurnia Hadi Sinanto Chairman of the Related Party Transaction Committee
Wardiman* Member of the Related Party Transaction Committee
Bobby Septian Yahya Member of the Related Party Transaction Committee
*) Term of office as Member of the Related Party Transaction Committee commenced on September 17, 2024 replacing Mr. Fitradewata Teramihardja.
Profile of the Related Party Transaction Committee
The profile of each member of the Related Party Transaction Committee is described as follows:
KURNIA HADI SINANTO
Chairman of the Related Party Transaction Committee
Term of Office and Basis of Appointment
2022 – 2025: The Board of Directors Decree of Avian Brands No. 008/AA/SK/DIR/V/2022 dated May 19, 2022.
The complete profile of the Chairman of the Related Party Transaction Committee can be found in the Profile of the Board of
Directors section of this Annual Report.
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WARDIMAN*
Member of the Related Party Transaction Committee
Term of Office and Basis of Appointment
2024 – 2025: Minutes of Meeting of the Board of Directors of Avian Brands No. 009/AA/BAR/DIR/IX/2024 dated
September 17, 2024.
The complete profile of the Member of the Related Party Transaction Committee can be found in the Profile of the Audit Committee
section of this Annual Report.
*) Term of office as Member of the Related Party Transaction Committee commenced on September 17, 2024 replacing Mr. Fitradewata Teramihardja.
BOBBY SEPTIAN
YAHYA
Member of the Related Party Transaction Committee
Indonesian, 32 years old.
Term of Office and Basis of Appointment
2023 – 2025:
The Board of Directors Decree of Avian Brands No. 008/AA/SK/DIR/VI/2022 dated June 14, 2023.
Educational Background
Bachelor of Accounting from Bina Nusantara University, Jakarta in 2014.
Certifications
• Practical Implementation of Operational Audit from Yayasan Pendidikan Internal Audit; and
• Risk Based Internal Audit from Yayasan Pendidikan Internal Audit.
Work Experiences
• Internal Audit of PT Combiphar (2015 – 2018);
• Internal Audit Senior of PT Sayap Mas Utama (Wings Corp) (2018 – 2022); and
• Assistant Manager of Special Investigations and Forensic Audit of PT Sinarmas Agro Resources and Technology Tbk
(2022).
Dual Appointments
Head of Internal Audit Unit of Avian Brands (2023 – present).
Education/Training in 2024
This information is presented in the Competence Development of the Internal Audit Unit section of this Annual Report.
Affiliation
Is not an affiliate of members of the Board of Commissioners, members of the Board of Directors, as well as Main and
Controlling Shareholders.
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Duties and Responsibilities of the Related Party Transaction Committee
The Related Party Transaction Committee is responsible for ensuring that all related party transactions conducted by
Avian Brands comply with applicable standards and fair transaction principles. Related Party Transaction Committee’s primary
duties include a comprehensive assessment of all related party transactions to ensure compliance with laws and regulations
as well as customary business practices. Further information on the duties and responsibilities of the Related Party Transaction
Committee, is described as follows:
1. Providing recommendations to the Board of Directors regarding affiliated transactions conducted by Avian Brands,
such that they are in accordance with the generally accepted business practices, applicable laws and regulations, and meet
the principles of fair transactions;
2. Assisting the Board of Directors to ensure that transactions conducted with related parties are not detrimental to the
interests of Avian Brands and Avian Brands’ Independent Shareholders;
3. Cooperating with the Corporate Secretary, Finance Team, and Legal Team of Avian Brands in discussing and deliberating
affiliated transaction plans to be undertaken by Avian Brands; and
4. Conducting special inspections related to affiliated transactions, if necessary.
Independence Statement of the Related Party Transaction Committee
The Related Party Transaction Committee is firmly committed to complying with the principle of independence in every aspect
of performing its duties and responsibilities. The committee structure consists of independent members with no affiliation
with any parties involved in the transactions, to ensure that all decisions and recommendations are made free from any
influence or conflict of interest. In performing this function, the Related Party Transaction Committee maintains objectivity
and transparency as well as actively avoids situations that may affect the integrity of the assessment process. Accordingly,
the Related Party Transaction Committee functions as the primary guard in ensuring that all affiliated party transactions are
carried out in accordance with principles of fairness and compliance with applicable regulations, thus improving stakeholders’
trust in Avian Brands’ business processes.
The Related Party Transaction Committee Meeting
Meeting Policy
Policy concerning the convening of Related Party Transaction Committee meetings establishes that meetings should
be regularly convened, at least once every four months. To ensure the effectiveness and validity of adopted resolutions,
meetings may only be convened if attended by a majority of the total members. This policy aims to ensure that all members
have the opportunity to participate in the decision-making process and that all related party transactions are thoroughly
reviewed in accordance with established principles.
Meeting Convention
Throughout 2024, the Related Party Transaction Committee has convened 3 meetings. Information regarding the number of
meetings and meeting attendance by members of the Related Party Transaction Committee is described as follows:
Number of
Name Position Total Attendance Attendance (%)
Meeting
Chairman of the Related Party
Kurnia Hadi Sinanto 3 3 100.00
Transaction Committee
Member of the Related Party
Wardiman* 3 1 33.33
Transaction Committee
Member of the Related Party
Bobby Septian Yahya 3 3 100.00
Transaction Committee
*) Term of office as Member of the Related Party Transaction Committee commenced on September 17, 2024 replacing Mr. Fitradewata Teramihardja.
Competence Development of the Related Party Transaction Committee
Avian Brands is consistently committed to improving knowledge and competence of Related Party Transaction Committee
members through continuous development programs. Each year, Related Party Transaction Committee members participate in
various training and development programs designed to upgrade their knowledge and improve their ability to effectively carry
out their duties and responsibilities. This ensures that the Related Party Transaction Committee remains alert to challenges and
changes in the business and regulatory environment.
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Information related to competence development programs attended by Related Party Transaction Committee members
throughout 2024 has been disclosed in the profile section of each Related Party Transaction Committee member.
Implementation of Duties and Responsibilities of the Related Party Transaction Committee
The implementation of the Related Party Transaction Committee’s duties is focused on ensuring that every related party
transaction conducted by Avian Brands complies with fair business principles and in accordance with applicable regulations.
The Related Party Transaction Committee is responsible for assessing and providing recommendations related to affiliated
party transactions’ conformity with common market practices, as well as their compliance with relevant regulations.
Further information regarding the implementation of the Related Party Transaction Committee’s duties carried out throughout
2024, is described as follows:
1. Periodically discussing, on a quarterly basis, related party transactions, among others:
a. Purchase of PVC pipe products by PT Tirtakencana Tatawarna (distributor) from PT Avia Avian Industri Pipa
(manufacturer);
b. Purchase of plastic packaging goods for finished goods products by Avian Brands from PT Mitra Mulia Makmur;
c. Purchase of ancillary building material products by PT Tirtakencana Tatawarna (distributor) from PT Kencana Lintasindo
Internasional (manufacturer);
d. Leasing of warehouse/depot for distribution activities by PT Tirtakencana Tatawarna from PT Sarana Depo Kencana;
and
e. Purchase of calcium carbonate by Avian Brands from PT Panca Kalsiumindo Perkasa.
2. Discussing the affiliated transactions planned to be carried out by Avian Brands with the affiliated parties that must be
reported to the OJK, among others space or building rental agreements, and sales of Avian Brands assets.
The Corporate Secretary
The Corporate Secretary is a Avian Brands’ organ responsible for supporting the Board of Directors in internal and external
communication aspects. This role encompasses managing communication among Avian Brands’ organs, as well as the
relationship between Avian Brands and Shareholders, regulators, and various other stakeholders. The Corporate Secretary also
ensures that Avian Brands complies with all applicable laws and regulations in the capital market. Moreover, the Corporate
Secretary is responsible for providing public information accessible to stakeholders based on reasonable needs. Through
these duties, the Corporate Secretary ensures transparency and disclosure of information that are essential in maintaining
Avian Brands’ integrity and accountability.
The Corporate Secretary Charter
Avian Brands has a Corporate Secretary Charter in place, which was stipulated on August 16, 2021 (“Corporate Secretary
Charter”). The Corporate Secretary Charter was formulated to regulate the functions and responsibilities of the Corporate
Secretary in order that they may be carried out in an efficient, transparent, accountable, and independent manner in accordance
with the prevailing laws and regulations.
Party Appointing and Dismissing the Corporate Secretary
The Corporate Secretary is directly responsible to the Board of Directors and is appointed and dismissed by virtue of
a Board of Directors Resolution. Each appointment, replacement, or dismissal of the Corporate Secretary shall be notifed to the
Financial Services Authority, to ensure transparency and compliance with applicable regulations. Thus, the Corporate Secretary
appointment and dismissal process is carried out by taking into account regulatory compliance, as well as the appointed
individual’s integrity and capability to carry out the duties and responsibilities of the Corporate Secretary.
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Profile of the Corporate Secretary
HERA SEPTI
ASTUTI
The Corporate Secretary
Indonesian, 39 years old, domicile in Jakarta.
Basis of Appointment
The Board of Directors Decree of Avian Brands No. 012/AA/SK/DIR/VIII/2022 dated August 31, 2022.
Educational Background
• Bachelor of Law from Atma Jaya University, Jakarta in 2007; and
• Master of Notarial from Pelita Harapan University, Jakarta in 2019.
Certifications
• The Advocate Professional Exam (“UPA”) – The Indonesian Advocates Association (“PERADI”); and
• Basic 1 Course of Capital Market Legal Consultant Professional Education - Capital Market Legal Consultant
Association (“HKHPM”) and FHP Education of Law (“FHP”).
Work Experiences
• Legal Staff of Notary Office of Dr. Misahardi Wilamarta, S.H., M.Kn. (2008 – 2010);
• Senior Legal of PT Profesional Telekomunikasi Indonesia (2010 – 2017);
• Corporate Secretary Manager of PT Graha Layar Prima Tbk (2018 – 2020); and
• Corporate Secretary Manager of Avian Brands (2021 – 2022).
Dual Appointments
-
Duties and Responsibilities of the Corporate Secretary
The Corporate Secretary’s duties and responsibilities are based on the Corporate Secretary Charter which stipulates its critical
role in supporting effective communication among Avian Brands’ organs, maintaining relationships with stakeholders,
ensuring compliance with capital market regulations, and providing accurate and accessible public information. Further
information on the duties and responsibilities of the Corporate Secretary is described as follows:
1. Keeping abreast of capital market developments, in particular the prevailing laws and regulations in the capital market
sector;
2. Providing input to the Board of Commissioners and the Board of Directors concerning compliance with the laws and
regulations in the capital market sector;
3. Disclosing information to the public, including the availability of information on Avian Brands’ website;
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4. Submitting reports to the Financial Services Authority in a timely manner;
5. Convening and documenting GMS and meetings of the Board of Commissioners and/or the Board of Directors;
6. Conducting orientation programs for the Board of Commissioners and/or the Board of Directors;
7. Coordinating preparation and submission processes of the Annual Report and Sustainability Report;
8. Acting as the liaison between Avian Brands and the Shareholders, the Financial Services Authority, and other stakeholders;
9. Representing Avian Brands in correspondence with capital market authorities in accordance with the authority granted by
Avian Brands; and
10. Submitting periodic reports, no fewer than once a year, regarding the implementation of the Corporate Secretary functions
to the Board of Directors, copied to the Board of Commissioners.
The Corporate Secretary Competence Development
Avian Brands is consistently committed to improving the knowledge and competence of the Corporate Secretary through
continuous development programs. Each year, the Corporate Secretary participates in various training and development
programs designed to upgrade her knowledge and improve her ability to effectively carry out her duties and responsibilities.
This ensures that the Corporate Secretary Committee remains alert to challenges and changes in the business and regulatory
environment. Information related to competence development programs attended by the Corporate Secretary throughout
2024 is described as follows:
Date Description Organizer
OJK and Indonesian
Dissemination of Financial Services Authority (Otoritas Jasa Keuangan or “OJK”)
Public Listed Companies
January 16, 2024 Regulation No 18 of 2023 concerning Issuance and Requirements of
Association (Asosiasi
Sustainability-Based Bonds and Sukuk
Emiten Indonesia or “AEI”)
Indonesia Corporate
In-depth discussion of OJK Regulation No. 14/POJK.04/2022 concerning
March 7, 2024 Secretary Association
Submission of Periodic Financial Reports of Issuers or Public Companies.
(“ICSA”)
Indonesia Stock
Exchange (“IDX”) &
April 25, 2024 ESG Investing: What is it and why investors care about it?
Sustainable Finance
Indonesia
Dissemination of IDX Regulation No. I-I concerning Stock Splits and
April 26, 2024 IDX
Reverse Stock Splits by Listed Companies that Issue Securities.
ICSA & Global Reporting
May 29, 2024 Webinar on “The ESG Ratings Phenomenon: What, Why, and How”. Initiative (“GRI”) ASEAN
Network
Dissemination of Financial Services Authority (Otoritas Jasa Keuangan or “OJK”)
regulations, namely:
1. OJK Regulation No. 20 of 2023 concerning Users of
International Financial Accounting Standards in the Capital Market;
June 13, 2024 2. OJK Regulation No. 29 of 2023 concerning Buyback of OJK
Shares Issued by Public Companies; and
3. OJK Regulation No. 4 of 2024 concerning Reports on Ownership of,
or Any Change of Ownership of, Shares in Public Companies and Reports
on the Activities of Encumbering Public Company Shares
July 31, 2024 Journey to Sustainability with PT Pertamina (Persero). ICSA
August 2, 2024 Webinar on Comprehensive Guide to Integrated Annual Report Excellence AEI
Webinar on an in-depth discussion of OJK Regulation No. 3 of 2021
September 19, 2024 ICSA
concerning the Organization of Capital Market Activities.
ICSA and Indonesia
Webinar on Convening of Electronic General Meeting of Central Securities
October 29, 2024
Shareholders (“E-GMS”) through eASY.KSEI. Depository (Kustodian
Sentral Efek Indonesia)
Dissemination of SPE-IDXnet regarding adjustments to Accountant Public
December 13, 2024 IDX
and/or Public Accounting Firm, Structured Warrants, and ESG Reporting forms.
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Implementation of the Duties of the Corporate Secretary
The implementation of the Corporate Secretary’s duties includes various activities to ensure harmonious and transparent
relationships between Avian Brands and its stakeholders. The Corporate Secretary actively coordinates communication between
the Board of Directors, the Board of Commissioners and the Shareholders, and maintains good relations with regulators and
other relevant institutions. The Corporate Secretary is also responsible for supervising and ensuring Avian Brands’ compliance
with all applicable capital market laws and regulations, as well as providing public information that is relevant and accessible to
all interested parties. Further details regarding the implementation of the Corporate Secretary’s duties carried out throughout
2024 is described below:
1. Organizing and facilitating the meetings of the Board of Directors, the Board of Commissioners, and various committees,
such as the Audit Committee, the Nomination and Remuneration Committee, the Good Corporate Governance Committee,
and the Related Party Transaction Committee, including preparing minutes of meetings;
2. Monitoring changes in capital market regulations and ensuring that Avian Brands complies with applicable regulations,
including publishing 12 monthly reports concerning shareholding registration, 4 Financial Reports, 1 Annual Report,
and 1 Sustainability Report throughout 2024;
3. Improving competence and knowledge by attending various professional trainings;
4. Maintaining communication with capital market regulators, such as the Financial Services Authority and the Indonesia
Stock Exchange, as well as other supporting institutions;
5. Carrying out various activities to ensure transparency of Avian Brands’ information to the public, including the publication
of 19 press releases;
6. Regularly updating information on Avian Brands’ investor relations section on the website; and
7. Preparing and formulating the Corporate Secretary work program for 2025.
The Internal Audit Unit
The Internal Audit Unit is Avian Brands’ organ responsible for supporting the Board of Directors in the aspects of overseeing and
evaluating the internal control system. The Internal Audit Unit plays an integral role in providing independent and objective
insight, assurance, and consultation to improve Avian Brands’ operational value and effectiveness. By adopting a systematic
approach, the Internal Audit Unit consistently evaluates and improves the effectiveness of risk management, internal control,
and GCG implementation. Through a comprehensive audit process, the Internal Audit Unit contributes to improving operational
quality and efficiency, to ensure that all aspects of Avian Brands’ activities are in accordance with established standards and
applicable regulations, and to assist Avian Brands in achieving its strategic objectives more transparently and accountably.
The Internal Audit Unit Charter
Avian Brands has an Internal Audit Charter in place, which was stipulated on August 16, 2021 (“Internal Audit Charter”).
This Internal Audit Charter is used as guidelines and work instructions for the Internal Audit Unit so that its functions and roles
may be carried out effectively.
Party Appointing and Dismissing the Internal Audit Unit
The Internal Audit Unit is led by the Head of Internal Audit Unit, appointed and dismissed by the President Director with the
Board of Commissioners’ approval, in accordance with the provisions set forth in the Internal Audit Charter. Any changes in
Internal Audit Unit leadership, either appointment, replacement, or dismissal thereof, must be reported to the Financial Services
Authority to ensure transparency and compliance with applicable regulations. This process not only ensures accountability in
the management of the Internal Audit Unit, but also fosters integrity and trust in Avian Brands’ internal control practices.
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Profile of Head of the Internal Audit Unit
BOBBY SEPTIAN YAHYA
Head of the Internal Audit Unit
Term of Office and Basis of Appointment
The Board of Directors Decree No. 004/AA/SK/DIR/IV/2023 dated April 6, 2023.
The complete profile of the Head of the Internal Audit Unit can be found in the Profile of the Related Party Transaction
Committee section of this Annual Report.
Structure and Position of the Internal Audit Unit
The Board of President Director
Commissioners
Audit Committee Internal Audit Unit
The Internal Audit Unit structure is directly under the President Director, which ensures that all implementation of the Internal
Audit Unit’s duties and responsibilities are reported directly to the President Director. This structure allows the Internal Audit
Unit to ensure that audit evaluations and recommendations are prioritized by Avian Brands’ top executives. This structure further
highlights Avian Brands’ commitment to transparency and effectiveness in its internal control system and allows for prompt and
appropriate corrective action to improve Avian Brands’ performance and compliance. This structure supports integrity in the audit
process and strengthens accountability in the implementation of Avian Brands’ internal control policies and procedures.
The composition of Avian Brands’ Internal Audit Unit in 2024 consisted of 8 members, with 1 member serving as the Head of
the Internal Audit Unit and 7 others as Members of the Internal Audit Unit
Duties and Responsibilities of the Internal Audit Unit
The Internal Audit Unit’s duties and responsibilities are based on the Internal Audit Charter, which stipulates its crucial role
in ensuring the effectiveness and efficiency of Avian Brands’ internal control system. The Internal Audit Unit is tasked with
conducting comprehensive monitoring and assessment of applicable policies, procedures, and practices, aimed at identifying
risks and ensuring compliance with applicable regulations. The Internal Audit Unit is also tasked with providing objective and
independent recommendations to improve the quality and performance of Avian Brands’ operations. Further information on
the duties and responsibilities of the Internal Audit Unit is described as follows:
1. Formulating and implementing an annual internal audit plan;
2. Testing and evaluating the implementation of internal control and risk management systems in accordance with Avian
Brands’ policies;
3. Conducting inspections and assessments of the efficiency and effectiveness in finance, accounting, operations,
human resources, marketing, information technology, and other activities;
4. Providing suggestions on improvements and objective information relating to audited activities to all managerial levels;
5. Compiling reports on audit results and submitting them to the President Director and the Board of Commissioners;
6. Monitoring, analyzing, and reporting the implementation of the suggested follow-up improvements;
7. Cooperating with the Audit Committee;
8. Developing programs to evaluate the quality of the audit activities it performs; and
9. Conducting special inspections, if necessary.
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Certificates of Expertise of the Internal Audit Unit
The certificates of expertise held by the Internal Audit Unit ensure the quality and credibility of audit functions within
Avian Brands. Such certification ensures that each Internal Audit Unit member possesses in-depth knowledge of auditing
principles and practices, as well as complies with internationally recognized professional standards. Through the certification
process, each Internal Audit Unit member is able to demonstrate his/her competence in conducting objective and independent
assessments of internal control systems and risk management practices. Information concerning certificates of expertise held
by the Internal Audit Unit, is described as follows:
Certifications Number of Employee
Practical Implementation of Operational Audit - Yayasan Pendidikan Internal Audit 1 Employee
Risk-Based Internal Audit - Yayasan Pendidikan Internal Audit 1 Employee
ISO 9001:2015 on Quality Management System 2 Employees
ISO 14001:2015 on Environmental Management System 2 Employees
ISO 45001:2018 on Occupational Health and Safety Management System 2 Employees
Internal Auditor of Integrated Management System 2 Employees
Risk Based Audit 1 Employee
The Internal Audit Unit Meeting
Meeting Policy
The Internal Audit Unit has the authority to convene regular meetings internally, such as meetings with the Board of Directors,
and the Audit Committee, and externally, such as meetings with public accounting firm. These meetings aim to discuss
and evaluate the findings of General Audit, Compliance Audit, and Operational Improvement. Through these meetings,
the Internal Audit Unit can ensure that all aspects of the audit are closely scrutinized and ensure effective follow-up on findings
and recommendations.
Meeting Convention
Throughout 2024, the Internal Audit Unit convened 12 meetings with the members of the Board of Directors, 3 meetings with
the Audit Committee, and 2 meetings with Public Accounting Firm.
The Internal Audit Unit Competence Development
Avian Brands is consistently committed to improving the knowledge and competence of the Internal Audit Unit through
continuous development programs. Each year, the Internal Audit Unit participates in various training and development
programs designed to upgrade his knowledge and improve his/her ability to effectively carry out his duties and responsibilities.
This ensures that the Internal Audit Unit remains alert to challenges and changes in the business and regulatory environment.
Information related to competence development programs attended by the Internal Audit Unit throughout 2024 is described
as follows:
Date Description Organizer
February 15, 2024 Document Control & Filling System Proxsis
April 29, 2024 Emotional Inteligence Tancorp
Implementation of Duties of the Internal Audit Unit
Implementation of the Internal Audit Unit’s duties includes various strategic activities designed to ensure the effectiveness
of the internal control system and improve Avian Brands’ operational performance. The Internal Audit Unit conducts
comprehensive audits, comprising General Audit, Compliance Audit, and Operational Improvement. During these processes,
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the Internal Audit Unit systematically evaluates and assesses risks, identifies potential issues, and recommends improvements
to optimize existing processes and systems. Further information regarding the implementation of the Internal Audit Unit’s
duties carried out throughout 2024 is described as follows:
1. Conducting audit inspections on finance and accounting areas, which include:
a. Audit inspections on cash and banks;
b. Audit inspections on receivables and sales made by Avian Brands;
c. Audit inspections on debts and purchases made by Avian Brands; and
d. Audit inspections on Avian Brands’ fixed assets.
2. Conducting audit inspections on operational areas, which include:
a. Audit inspections on finished goods inventory and operational processes taking place in the finished goods area;
b. Audit inspections on inventories in production areas and production processes (raw material consumption, output
finished goods, and Bill of Materials);
c. Audit inspections on raw material inventories and operational processes taking place in the raw material area; and
d. Audit inspections on waste and Hazardous Material items resulting from production.
3. Conducting audit inspections on purchase and expense areas, which include:
a. Audit inspections on salary and overtime payments made by Avian Brands;
b. Audit inspections on the purchasing process and suppliers working with Avian Brands;
c. Audit inspections on projects and maintenance; and
d. Audit inspections on promotion expenses.
4. Conducting audit inspections on Avian Brands’ Subsidiaries
In addition to carrying out the aforementioned duties, the Internal Audit Unit submits audit reports to the Board of
Directors no later than the 5th of each month.
Public Accountant
Independent supervision functions over Avian Brands’ financial aspects are realized through external audits conducted by the
Public Accounting Firm (Kantor Akuntan Publik or “KAP”). These external audits aim to ensure that all financial information
and data presented by Avian Brands meet the principles of accountability, independence, and fairness. The audit processes
conducted by KAP provide assurance to Shareholders, regulators, and other stakeholders that Avian Brands’ Financial
Statements have been prepared in accordance with applicable accounting standards. This reflects transparency and
objectivity of Avian Brands’ financial condition. The external audit results also aid Avian Brands in identifying areas that require
improvement and enhancement, in order to encourage better financial performance in the future.
Compliance with Indonesian Financial Accounting Standards
Compliance with Indonesian Financial Accounting Standards is Avian Brands’ principal commitment to preparing and
presenting the Financial Statements. Avian Brands consistently ensures that all financial transactions are recorded and reported
in accordance with applicable Financial Accounting Standards in Indonesia as described as follows:
1. The Financial Accounting Standards (“FAS”) stipulated by the Indonesian Institute of Accountants (Ikatan Akuntan Indonesia
or “IAI”); and
2. Decree of the Chairman of the Capital Market and Financial Institutions Supervisory Agency (Badan Pengawas Pasar Modal
Lembaga Keuangan or “Bapepam-LK”) No. KEP-347/BL/2012 on the Guidelines for the Presentation and Disclosure of
Financial Statements of Issuers or Public Companies.
By complying with this standard, Avian Brands also strives to maintain public confidence and ensure the integrity of
the financial information presented.
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External Audit Procedures and Upon preliminary selection by the Audit Committee,
Auditing Standards recommendations for KAP appointment are then submitted
to the Board of Commissioners for review and resolution.
The audit of Avian Brands’ Financial Statements is conducted In general, there are 2 mechanisms for KAP appointment,
in accordance with the professional standards of public namely appointment by Shareholders through the GMS or
accountants, which encompasses all audit procedures delegation of GMS authority to the Board of Commissioners
deemed appropriate to the specific conditions of by establishing criteria or limits for the appointed KAP.
Avian Brands. These audit procedures include testing, Both mechanisms ensure flexibility while upholding the
examining, and evaluating the Financial Statements to GCG principles implemented by Avian Brands.
ensure their compliance with the FAS established by IAI.
Through this process, the KAP seeks to ensure that Avian Upon approval, Avian Brands will appoint the selected KAP
Brands’ Financial Statements are presented accurately and through a formal resolution. The appointment of a Public
fairly, and provide reliable and transparent information to Accountant and Public Accounting Firm is then reported to
Shareholders, regulators, and other stakeholders. the OJK by attaching:
1. The appointment document and the recommendation
As part of the audit process, the KAP conducts a question of the Audit Committee;
and answer session with Avian Brands’ Management 2. The self-assessment result received from the KAP; and
concerning statements disclosed in the Financial 3. Employment agreement documents with the Public
Statements. In the event of discrepancies in the presentation Accountant and Public Accounting Firm.
of the report, the KAP is obliged to report them to
Avian Brands’ Management. Avian Brands’ Management The appointed KAP is responsible for conducting an external
is then responsible for reviewing and approving the audit audit of Avian Brands’ Financial Statements in accordance
working papers prepared by KAP, which will be reviewed with the professional standards of public accountants
by the relevant bodies or authorities. This process ensures and prevailing laws and regulations. This process ensures
that all aspects of the Financial Statements have been an objective and transparent appointment of the Public
thoroughly examined and complied with applicable Accountant to maintain the integrity and credibility of
accounting standards, thereby maintaining the integrity Avian Brands’ external audit.
and credibility of Avian Brands’ financial information.
2024 Public Accountant
Appointment Mechanism of
Public Accountant Appointment of a Public Accountant and/or KAP to
audit Avian Brands’ Consolidated Financial Statements
Avian Brands’ Public Accountant appointment mechanism for the financial year ended December 31, 2024, was
adheres to a transparent procedure in accordance with the based on the resolution of the Annual GMS convened on
provisions of OJK Regulation No. 9 of 2023 concerning the April 4, 2024. In the resolution, the GMS delegated its
Use of Public Accountants and Public Accounting Firms in authority to Avian Brands’ Board of Commissioners to select
Financial Services Activities. This process commences with a Public Accountant and/or Registered KAP in Indonesia.
an evaluation of the need for an external audit by the Audit The selected Public Accountant is responsible for ensuring
Committee. The Audit Committee selects and recommends that the audit is conducted according to professional
a reputable KAP that meets the professionalism and accounting standards, ensuring accuracy and transparency
independence requirements. in Avian Brands’ Financial Statements, and compliance with
all applicable regulations to provide reliable information to
all stakeholders.
In this regard, the Board of Commissioners has appointed
the Public Accounting Firm of Teramihardja, Pradhono &
Chandra (a member firm of Crowe global) as the external
auditor to audit Avian Brands’ Consolidated Financial
Statements. This KAP was selected for its reputation
and extensive experience in conducting audits of major
companies in Indonesia. This appointment is expected to
provide confidence that Avian Brands’ Financial Statements
will be audited thoroughly and independently in accordance
with applicable accounting standards.
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List of Public Accounting Firms and Public Accountants for the Last 5 Years
To maintain transparency and accountability of financial information, Avian Brands has continuously worked with reputable
and experienced KAPs. The list of Public Accountants and KAPs that have audited Avian Brands’ Consolidated Financial
Statements over the last 5 years is described as follows:
Financial Year Public Accounting Firms Name of Accountant Opinion
Public Accounting Firm of Teramihardja, Pradhono &
2024 Agustina Felisia Unmodified
Chandra (a member firm of Crowe global)
Public Accounting Firm of Tanudiredja, Wibisana,
2023 Ely Unmodified
Rintis & Rekan (a member firm of PwC global network)
Public Accounting Firm of Tanudiredja, Wibisana,
2022 Ely Unmodified
Rintis & Rekan (a member firm of PwC global network)
Public Accounting Firm of Purwantono, Sungkoro &
2021 Benyanto Suherman Unqualified
Surja (a member firm of Ernst & Young Global Limited)
Public Accounting Firm of Purwantono, Sungkoro &
2020 Muhammad Kurniawan Unqualified
Surja (a member firm of Ernst & Young Global Limited)
Other Services Provided
There were no other services provided by the Public Accounting Firm of Teramihardja, Pradhono & Chandra (a member firm
of Crowe global) other than audit services on Avian Brands’ Consolidated Financial Statements for the fiscal year ended
December 31, 2024.
Internal Control System
The Internal Control System (“ICS”) is a series of procedures and mechanisms designed to assist Avian Brands in achieving its
operational objectives effectively and efficiently. The ICS is an integral part of the managerial structure that involves all levels
of the organization, from upper management to the employees. This system aims to provide reasonable assurance on the
achievement of Avian Brands’ objectives and ensure that Avian Brands’ activities are in accordance with established policies
and procedures.
The ICS includes various aspects as described below:
1. Operational Control to ensure effectiveness and efficiency of Avian Brands’ operational activities. This control includes
protecting Avian Brands’ assets from risk of loss or misappropriation, and optimizing the use of resources to achieve optimal
results.
2. Reporting Control to ensure the accuracy and integrity of the Financial Statements presented. This control aims to ensure
that the resulting Financial Statements are reliable and reflect the actual financial condition, both for internal and external
purposes.
3. Compliance Control to provide assurance on Avian Brands’ compliance with all applicable laws and regulations.
This control includes compliance with laws, regulations, and established internal policies to maintain Avian Brands’ ethical
and legal standards.
The ICS is not just about supervision and control, but also about creating an environment that supports the achievement
of Avian Brands’ strategic objectives. By effectively implementing ICS, Avian Brands is able to minimize operational risks,
improve the reliability of Financial Statements, ensure regulatory compliance, and, in turn, promote the overall growth and
sustainability of Avian Brands.
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Implementation of Internal Control System
Implementing the ICS is a fundamental step in ensuring that Avian Brands’ operational activities are conducted with optimal
efficiency and effectiveness. The ICS is designed to establish a structure that contributes to achieving Avian Brands’ strategic
objectives, mitigating risks, and ensuring compliance with applicable regulations. Integrating the ICS into every operational
and managerial aspect enables Avian Brands to maintain the integrity and reliability of business processes. The implementation
of ICS in Avian Brands is described as follows:
Components of Internal
Implementation in Avian Brands
Control System
Reviewing the comparison between budget target and realization through periodic reports. Similarly,
effective control requires the implementation of a clear and multi-level authorization system.
Finance
Structured authorization levels ensure that every expenditure is in accordance with the established
authority, thus maintaining accountability and minimizing the risk of irregularities in budget management.
Requiring all employees to comply with Standard Operating Procedures (“SOPs”), which regulate
various procedures for operational activities to ensure efective and efficient performance. In addition to
Operation implementing SOPs, operations optimization is also carried out by reducing manual work through an
integrated system. This approach not only improves efficiency, but also minimizes risks of deviations or
violations in the implementation of operational activities.
Assets Insuring all fixed assets of Avian Brands under insurance covering fire and other risks.
Through the Corporate Secretary, the Board of Directors, the Audit Committee, the Nomination and
Compliance with Remuneration Committee, the Good Corporate Governance Committee, the Related Party Transaction
Applicable Laws Committee, and the Internal Audit Unit, continuously communicating and coordinating to review
and Regulations Avian Brands’ compliance with applicable laws and regulations. The Corporate Secretary also regularly
follows the development of laws and regulations, especially those related to the capital market.
Effective ICS implementation involves more than just creating and establishing structured policies and procedures.
This process requires active involvement and commitment from all organizational levels to ensure optimal operation of the
control system. This involvement includes ongoing counseling and training to employees, to ensure that they understand,
and are capable of applying, ICS principles in their daily activities. Further, ICS implementation must be flexible and adaptive,
capable of responding to changing business environments, new risks, and regulatory developments. Therefore, the ICS must
be continuously evaluated and refined based on the evaluation results to ensure that the ICS remains relevant and effective in
contributing to the achievement of Avian Brands’ strategic objectives and maintaining operational integrity and transparency.
Overview of the Effectiveness of Internal Control
The Internal Audit Unit systematically assesses the effectiveness of ICS implemented in all business lines to ensure that every
aspect of Avian Brands’ operations functions optimally and in accordance with established standards. This evaluation process
is designed to identify potential shortcomings, weaknesses, or non-compliance with applicable policies and procedures.
The assessment results provide valuable insights used to formulate recommendations for improvement to strengthen the
implementation of ICS in each operational function.
In ensuring that the implementation of ICS is working well, the Internal Audit Unit does several things as described as follows:
1. Conducting independent inspections within Avian 4. Ensuring that the internal control risk management
Brands to increase the added value of Avian Brands’ and corporate governance process of Avian Brands is
operations by providing independent and objective sufficient and functioning properly;
assurances and consultations; 5. Evaluating compliance with prevailing laws, regulations,
2. Supporting the achievement of objectives through as well as policies and procedures of Avian Brands;
the adoption of a systematic approach by evaluating 6. Evaluating whether or not key financial, managerial,
and improving the effectiveness of risk management, and operational information within the scope of the
control, and good corporate governance processes; audit is presented accurately, completely, reliably, and in
3. Serving as a professional advisor to the Board of a timely manner;
Directors as well as a catalyst for all work units and Avian 7. Identifying any potential savings and cost-effectiveness,
Brands as a whole; and providing recommendations to improve cost
efficiency and effectiveness;
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8. Performing special assignments from the Board of Directors, the Board of Commissioners, and/or the Audit Committee
that are relevant to the aforementioned scope of works, for example investigation and disclosure of irregularities, fraud,
and waste; and
9. Preparing audit reports and recommendations for improvements.
Statement of the Board of Commissioners and the Board of Directors on
the Implementation of Internal Control System
The Board of Commissioners and the Board of Directors consistently ensure a systematic, structured, and sustainable ICS
implementation, by conducting periodic evaluations. Throughout 2024, the Board of Commissioners and the Board of
Directors’ evaluation indicated that the ICS implemented by Avian Brands has met the standards in terms of effectiveness,
efficiency, reliability, and compliance with laws and regulations. All aspects of the ICS, from operational controls to reporting
and compliance, functioned properly with no significant material weaknesses found in this system. Findings and irregularities
identified in operational activities were properly handled and rectified, demonstrating the ICS’s capability to support
Avian Brands’ strategic objectives and ensure transparent and accountable management. This commitment reflects the
ongoing efforts of the Board of Commissioners and the Board of Directors to ensure that ICS is compliant with applicable
standards as well as adaptive to dynamic changes in the business environment.
Risk Management System
The risk management system is a systematic and integrated approach designed to identify, evaluate, and manage potential
opportunities and threats that may affect the achievement of Avian Brands’ objectives. By implementing an effective risk
management system, Avian Brands can navigate challenges and changes in the business environment with greater agility,
ensuring that all potential risks are addressed in a comprehensive and structured manner. This approach allows Avian Brands
to minimize adverse impacts and optimize the benefits of any opportunities, to minimize disruption to business operations and
achieve desired results more efficiently.
In its implementation, the risk management system is an integral part of every strategic and operational decision of
Avian Brands. This process involves in-depth risk assessment and proactive implementation of mitigation measures, ensuring
that each business aspect is managed in a well-planned and measurable manner. By continuously developing and strengthening
the risk management system, Avian Brands ensures that all business activities are sustainable, resilient and well-prepared to
face uncertainty and change with maximum preparedness.
Types and Mitigation of Risks
Based on a study conducted in 2024, the risks faced by Avian Brands and its mitigation efforts are described as follows:
Main Risks with Significant Influence on Business Continuity
Indication Mitigation
Avian Brands’ business activities depend on the continued • Performing continuous benchmarking with competitors to ensure that
success of its key brands, such as Avian, Avitex, and No Drop; such products remain superior in the market;
and any failure to maintain the brand strength and value of • Allocating funds to support the marketing efforts for such products;
such products could have a material and negative impact • Continuing the development of such products to maintain or improve
on the business activities, financial condition, and results of quality; and
operations of Avian Brands. • Adding variants of such products to strengthen the brand image and
capture the growing needs in the market.
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Risks related to Business and Industry
Indication Mitigation
Avian Brands faces intense competition, and should it fail • Increasing investment in product development, being selective in
to compete effectively, it may lose market share and its promotional and advertising activities, as well as product distribution;
operating results may be negatively affected. • Pricing Avian Brands’ products competitively based on a combination
of various factors, including Avian Brands’ ability to differentiate these
products from other competing products; and
• Adding a distribution network to strengthen Avian Brands’ product
penetration.
Indication Mitigation
Avian Brands’ efforts to innovate and develop products may • Developing a complete and modern Research, Development,
not be successful. and Innovation (“RDI”) center by recruiting and developing qualified
chemist personnel;
• Preserving good relationships with suppliers of materials to obtain
information on the developments of the latest materials; and
• Recruiting experts in the global coating sector.
Indication Mitigation
In maintaining the success of its business, Avian Brands relies • Improving the quality of Avian Brands’ human resources;
on the availability of certain core personnel and its success in • Paying care and attention to the recruitment, development, and career
recruiting and retaining other qualified personnel. path processes; and
• Building partnerships with leading universities/academies to secure
quality talents.
Indication Mitigation
Avian Brands’ main business activities depend on a stable and Procuring and maintaining a consistent and adequate supply of raw
adequate supply of raw materials, and the operating results materials at a reasonable price by always seeking or updating new
of Avian Brands may be materially affected due to rising raw (alternative) suppliers.
material costs or lack of raw material availability.
Indication Mitigation
Avian Brands leases important assets, such as warehouses Maximizing with a longer lease term (3 – 5 years).
and distribution centers. The inability to renew these leases
may affect Avian Brands’ operational capabilities.
Indication Mitigation
Avian Brands is involved in a number of transactions with Ensuring that all transactions with affiliated parties (Related Party
related parties (affiliates) and is not able to guarantee that Transactions) are carried out on an arm’s length basis to avoid negative
its operational results or financial condition will not be effects arising from unhealthy business practices.
negatively affected in the future if the provisions of these
agreements are terminated or amended in a way that may
potentially harm Avian Brands.
Indication Mitigation
Avian Brands may not be able to procure an adequate and • Ensuring that cooperation agreements with vendors are well
continuous supply of electricity, fuel, water, equipment, maintained;
and spare parts, or to procure them at a favorable price. • Ensuring the availability of alternative vendors; and
• Looking for alternative energy sources, such as the use of solar panels,
so that the electricity supply reserves are maintained.
General Risks
Indication Mitigation
Avian Brands’ business activities, financial condition, results Monitoring global and national economic conditions, to ensure that
of operations, and business prospects may be negatively Avian Brands can formulate appropriate and flexible strategies to adapt
affected by global, regional, and national economic to existing changes.
conditions.
Indication Mitigation
Avian Brands may not be able to adequately protect its • Entering into license agreements with third parties;
intellectual property rights. • Relying on contractual agreements and legal protections to protect the
intellectual property rights of Avian Brands; and
• Relying on Indonesian patent, trademark, trade secret, and copyright
laws to protect the intellectual property rights of Avian Brands.
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General Risks
Indication Mitigation
Avian Brands may fail to obtain or experience material delays Ensuring that all certificates, permits, licenses, and other matters relating
in obtaining or renewing the certificates, licenses, permits, or to permits for operational activities, including leases, are continuously
Government approvals required for Avian Brands’operations updated.
and relevant leasing activities for its manufacturing facilities.
As a result, Avian Brands’ business activities, financial
condition, and operational results may be materially affected.
Indication Mitigation
Regulation of greenhouse gas emissions and climate Implementing and improving the Environmental Management System
change issues may have a negative impact on Avian Brands’ (ISO 14001) and Energy Management System (ISO 50001), as well as
operations and markets. monitoring the consistency of implementation in our environment,
for example the development of environmentally friendly products
(green label), the use of renewable energy (solar panels), and the use
of electric forklifts to replace diesel, as well as replacing solar energy for
thermo and boilers with gas energy. In line with that, programs related
to environmental concerns are also constantly aligned with ISO 26000,
which is one of the guiding standards on social responsibility.
Avian Brands has also established emission reduction targets that are
monitored regularly by the Quality Assurance and Sustainability team.
This oversight ensures the achievement of targets is in line with Avian
Brands’ sustainability commitments, while supporting contributions to
overall environmental impact reduction.
Indication Mitigation
Labor activism, riots, and labor laws in Indonesia may have a Avian Brands’ constant efforts to comply with all regulations related to
materially adverse effect on Avian Brands. employment to minimize related risks.
Financial Risks
Indication Mitigation
MForeign Currency Risk Being continually diligent in paying obligations of Avian Brands in foreign
The functional currency of Avian Brands is Rupiah. Avian currencies in order to avoid speculative effects and performing limited
Brands is exposed to foreign exchange rate risk as some of its hedging actions (forward contracts). All bank loans, if any, are in Rupiah.
purchases and operating costs are denominated in foreign Avian Brands also monitors foreign currencies movement, especially USD.
currencies. This risk arises from the weakening/strengthening
of the value of a foreign currency against Rupiah causing the
debt and operational costs in Rupiah to decrease/increase.
Indication Mitigation
Credit Risks • Policies to ensure product sales are made only to customers who may
Risks arising from the customer’s inability or delay in fulfilling be trusted and proven to have a good credit history;
all debts from credit sales to Avian Brands. • Purchases on credit must go through credit verification procedures;
• Providing credit terms mostly up to 63 days from the invoice issuance
date;
• Continuously monitoring the balance of receivables to reduce the
possibility of uncollectible receivables; and
• Ensuring that customers, particularly Avian Brands’ distributors,
provide payment security which may be in the form of cash (deposits),
bank guarantees, or payment security through distributor financing
from banks that cooperate with Avian Brands.
Indication Mitigation
Liquidity Risks • Managing liquidity profile to ensure Avian Brands’ ability to fund capital
Risks arising from Avian Brands’ inability to meet its expenditures;
obligations as they fall due. • Managing maturing debts by maintaining sufficient cash;
• Ensuring the availability of funding through sufficient numbers of
committed credit facilities; and
• Evaluating projected and actual cash flows, and continuously assessing
conditions on financial markets for opportunities to pursue fundraising
initiatives.
Indication Mitigation
Interest Rate Risk Review of various interest rates offered by creditors by the management
Risks arising from loan facilities provided to Avian Brands for to find the most favorable interest rates prior to any debt commitment.
working capital and investment purposes.
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GOOD CORPORATE GOVERNANCE Overview of the Implementation Effectiveness of Risk Management System Avian Brands regularly conducts comprehensive assessments to ensure the effectiveness of risk management system implementation and maximize the results of the mitigation efforts undertaken. This review includes an in-depth analysis of the plans and actions that have been implemented to assess if the results are consistent with the intended objectives and to identify areas for improvement. This evaluation aims to provide a clear picture of the advantages and disadvantages of the implemented strategy. Based on the results of the review, necessary corrective measures are then implemented to address the identified shortcomings. This approach allows Avian Brands to ensure that its risk management system remains relevant and effective in addressing emerging challenges and supporting the sustainability and achievement of Avian Brands’ strategic objectives on an ongoing basis. Statement of the Board of Commissioners and the Board of Directors on the Implementation of Risk Management System The Board of Commissioners and the Board of Directors remain committed to ensuring that Avian Brands’ risk management system is implemented with a systematic, structured and sustainable approach. Periodic evaluation of this system is conducted to ensure that the risk identification, assessment and management mechanisms are functioning optimally. The assessment for 2024 showed that the implemented risk management system has met the required standards, enabling Avian Brands to better manage existing risks and take timely mitigation measures. Despite the effectiveness of the current risk management system, the Board of Commissioners and the Board of Directors recognize that the dynamics of the evolving business environment require continuous adaptation. Accordingly, it is a priority to continuously develop and refine the risk management system. The Board of Commissioners and the Board of Directors are committed to integrating evaluation results into the improvement measures, to ensure that the system remains relevant and capable of addressing new challenges more effectively. This commitment aims to strengthen Avian Brands’ resilience and support the achievement of long-term goals, while managing risks in the most optimal way. Legal Disputes with Material Impacts and the Administrative Sanctions Imposed Legal Disputes with Material Impacts Throughout 2024, no legal disputes with material impact, either civil or criminal, were faced by Avian Brands, the Subsidiaries, the Board of Commissioners, and the Board of Directors. Administrative Sanctions Throughout 2024, no administrative sanctions were imposed on Avian Brands, the Board of Commissioners, and the Board of Directors by the Financial Services Authority, the Indonesia Stock Exchange, or other authorities. Code of Conduct Avian Brands recognizes the importance of implementing excellent governance practices to ensure sustainable business growth and enhance long-term corporate value. In this regard, Avian Brands has formulated and implemented a Business Ethics and Code of Conduct that stipulate standards of behavior that must be observed by all employees, including the Board of Directors, the Board of Commissioners, and Avian Brands’ supporting organs in performing their roles, authorities and responsibilities, as well as in interacting in the work environment. The Business Ethics and Code of Conduct establishes the basic principles of honesty, integrity, and professionalism as guidelines for performing duties and interacting in the work environment. 178
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By having the Business Ethics and Code of Conduct, Avian Brands aims not only to conduct business activities based on high
ethical standards, but also to build and maintain a harmonious relationship between Avian Brands’ operations and the interests
of all stakeholders. The Business Ethics and Code of Conduct are expected to strengthen GCG implementation and improve
stakeholders’ relationships and satisfaction, both those directly involved in corporate activities as well as those affected by
Avian Brands’ activities. By consistently implementing its Business Ethics and Code of Conduct, Avian Brands is committed to
achieving high ethical standards in every aspect of its business.
Principles of Business Ethics and Code of Conduct
The principles of Avian Brands’ Business Ethics comprise the following:
1 6
Compliance with prevailing
Company Ethics for Mass Media
Laws and Regulations
2 7
Company Ethics for Company Personnel Company Ethics for Business Partners
3 8
Company Ethics for Consumers Responsibilities to the Government
4 9
Responsibilities to Society and
Company Ethics for Shareholders
the Environment
5 10
Company Ethics for Competitors Responsibilities in Innovation
The principles of Avian Brands’ Code of Conduct comprise the following:
1 8
Individual Commitment Giving and Receiving of Gratuities
2 9
Communication and Information Delivery Integrity of Financial Reporting
3 10
Maintainance of the Confidentiality of Data,
Protection of Company Assets
Confidential Information, and Material
4 11
Use of Company Technology Budget Planning and Use
5 12
Occupational Health and
Cooperation between Company Personnel
Safety and Environment (“OHSE”)
6 13
Equality in Treatment and
Conflict of Interests
Provision of Opportunities
7
Compliance with prevailing
Laws and Regulations
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GOOD CORPORATE GOVERNANCE Forms of Socialization and Efforts to Disseminate Business Ethics and Code of Conduct Avian Brands actively socializes the Business Ethics and Code of Conduct to all employees as part of its commitment to implementing GCG principles. This socialization ensures that every individual in the organization understands and complies with the established standards of conduct. Through the Good Corporate Governance Committee, Avian Brands conducts an intensive and continuous socialization program, which commences from the start of employment and continues periodically thereafter. Among the socialization methods implemented, are the signing of the Integrity Pact as stipulated in form No. AA-HRD-FRM-01-010, and the availability of Business Ethics and Code of Conduct on Avian Brands’ website to facilitate employees in obtaining the necessary information. As part of this effort, Avian Brands also conducts regular training and disseminates information regarding the Business Ethics and Code of Conduct through various internal communication channels. Through this approach, Avian Brands aims to foster a strong organizational culture and ensure that all employees understand and implement ethical values in every aspect of their work. These efforts contribute creating of a professional, harmonious work environment in line with GCG principles. Efforts in Enforcing Business Ethics and Code of Conduct Avian Brands is committed to enforcing the Business Ethics and Code of Conduct at all organizational levels, from the employees to the Board of Directors and the Board of Commissioners. This policy aims to ensure that every aspect of business activities is carried out in accordance with strict ethical standards and applicable regulations. In this endeavor, Avian Brands has established the Good Corporate Governance Committee, which is responsible for overseeing the implementation of, and compliance with, the Business Ethics and Code of Conduct across all work environments. The Good Corporate Governance Committee is tasked with ensuring that ethical principles are thoroughly integrated into every business activity and decision, to maintain integrity and transparency throughout Avian Brands’ operational processes. Sanctions for Violation of Business Ethics and Code of Conduct Avian Brands establishes a series of sanctions as a form of consequence for violations of the Business Ethics and Code of Conduct committed by each Avian Brands’ Personnel. Sanctions may include disciplinary actions of verbal or written warnings, stern warnings with suspension, monetary fines, and termination of employment (Pemutusan Hubungan Kerja or “PHK”) if necessary. Enforcement of these sanctions aims to ensure strict compliance with Avian Brands’ ethical standards and enforce discipline across all levels of Avian Brands in order to maintain integrity and quality of a professional work environment. Employee Stock Allocation Program Avian Brands implements a policy that allows employees to own Avian Brands’ shares through the employee stock allocation (“ESA”) program. This program is conceived as part of Avian Brands’ efforts to improve employee well-being and strengthen their sense of belonging and involvement in Avian Brands’ progress. By providing access to share ownership, Avian Brands hopes to boost employees’ motivation and loyalty, while establishing a closer link between individual performance and Avian Brands’ overall success. Requirements on Employee Eligibility for the ESA Program Avian Brands ensures effective and fair implementation of the ESA program by establishing a set of requirements that must be fulfilled by employees who are eligible to participate in the ESA program. These requirements may include various aspects, particularly the minimum length of service, position, as well as other aspects that are of particular consideration. 180
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Thus, the ESA program represents a form of appreciation, as well as motivation for employees to keep contributing optimally to
Avian Brands’success. Further information regarding the requirements of employees eligible to participate in the ESA program
is described as follows:
1. Permanent employees who have been registered as employees on the date determined by Avian Brands (“ESA Date”);
2. Employees participating in the ESA program and the number of shares to be allocated to participants in the ESA program
take into account their tenure, position, and other considerations;
3. So long as there remain shares allocated in the ESA program, the Board of Directors of Avian Brands may allocate the
remaining shares in the ESA program to employees who start their employment after the ESA Date;
4. Shares originating from the ESA program are subject to a lock-up period, and, therefor,e may not be transferred in any way
for 24 months from the date of listing of Avian Brands’ shares on the Indonesia Stock Exchange;
5. In the event that an employee resigns when the lock-up period has not ended, the shares will be transferred to another
employee, free of charge, in accordance with the policy of the Board of Directors; and
6. In the event that an employee dies when the lock-up period has not ended, the shares will be transferred, free of charge,
to their legal, and provable to the Board of Directors of Avian Brands, heirs in accordance with the policy of the Board of
Directors.
Implementation of the ESA Program
Avian Brands has realized the ESA program implementation in 2021. A number of employees have participated in this program
and thus become part of Avian Brands’ Shareholders. Details regarding the implementation of the ESA program are described
as follows:
Number of Shares Execution Period Execution Price
3,099,300 shares or 0.05% of new shares in the Initial
December 2 – 6, 2021 IDR930.-
Public Offering.
Parties Responsible for the Implementation of the ESA Program
Avian Brands has ensured proper implementation of the ESA program in accordance with its intended objectives, by appointing
parties responsible for managing and supervising the entire ESA program implementation. The parties responsible for the
implementation of Avian Brands’ ESA program, among others:
1. Department of HR Development;
2. Department of Business Development; and
3. Department of Finance.
These departments are responsible for implementing the ESA program within their respective roles and functions and ensuring
the transparent and effective implementation of the program.
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Information Disclosure Policy
The policy concerning ownership, either directly or indirectly, of Avian Brands’ shares by the Board of Commissioners and the
Board of Directors, as well as changes thereto, has been regulated in details, in the Policy on Reports of Share Ownership or
Changes to the Share Ownership of the Board of Commissioners and the Board of Directors stipulated on December 27, 2021,
and last updated on October 11, 2024. This policy aims to ensure full transparency and maintain integrity in share ownership
reports. With this policy, Avian Brands ensures that any changes to the Board of Commissioners’ and the Board of Directors’
share ownership are reported in a transparent and accurate manner, support GCG principles, as well as provide relevant
information to stakeholders and the public consistently.
The reporting mechanism and reporting period by every member of the Board of Commissioners and Board of Directors
regarding ownership of Avian Brands’ shares and changes thereto are as follows:
Self-Reporting Reporting through Authorization
Members of the Board of Commissioners or members of the Board Members of the Board of Commissioners or members of
of Directors directly submit a report to the Financial Services the Board of Directors submit a report through the Corporate
Authority (Otoritas Jasa Keuangan or “OJK”) and deliver a copy Secretary by attaching a Special Power of Attorney no later than
of the report to the Corporate Secretary. The reporting period is 2 calendar days from the effective date of the ownership or every
no later than 5 working days to OJK from the occurrence of the change in share ownership in Avian Brands. The reporting period
ownership or every change in share ownership in Avian Brands. is no later than 5 working days to OJK from the occurrence of the
ownership or every change in share ownership in Avian Brands.
Avian Brands also submits a transaction report to the OJK no later than 5 days from the transaction date. In this regard,
Avian Brands has submitted reports on the share ownership of members of the Board of Commissioners and/or
Board of Directors throughout 2024 via e-reporting to the Financial Services Authority and the Indonesia Stock Exchange.
Share Ownership Disclosure
Disclosure of ownership, either directly or indirectly, of Avian Brands’share can be found in the Composition of Share Ownership
by Members of the Board of Commissioners and the Board of Directors in Avian Brands Profile chapter of this Annual Report.
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Whistleblowing System
Avian Brands remains committed to the comprehensive implementation of GCG principles by implementing
a Whistleblowing System (“WBS”) as stipulated in the Whistleblowing System Guidelines established on June 25, 2021, and
last updated on December 27, 2021. This system serves as a proactive measure to prevent fraud and deceit from occurring in
Avian Brands’ operations. Through the WBS, all stakeholders are afforded channels to report suspected violations or breaches
of applicable regulations, based on valid evidence and good faith for the interests of Avian Brands. Effective implementation
of the WBS allows Avian Brands to conduct necessary evaluations and follow-ups to strengthen integrity and transparency in
every aspect of Avian Brands’ activities.
Method of Submission and Parties Managing Reports of Violations
Avian Brands encourages every individual within Avian Brands to be active and have the courage to report any violations or
fraud that they encounter. In the reporting process, the whistleblower is expected to provide complete and clear information
about the reported case. This includes details about the incident, the parties involved, and relevant evidence to support the
report. Therefore, any reports submitted can be processed effectively and accurately to ensure proper measures are taken
to address and resolve any violations that occur. The information that needs to be included in submitting a violation report
includes the following:
1 5
Types of Actions Suspected as Violation. How the Violation Occurred.
2 6
If the Violation Has Been Reported to
Parties Involved in Violation.
Other Parties.
3 7
If the Violation Has Occurred Before
Location of Violation.
and Is a Repeated Action.
4 8
Time of Violation. Other Important and Relevant Information.
Reports concerning violations may be submitted to the following channels:
The Good Corporate
Governance Committee
(62) 81138505000
Avian Brands Building
www.avianbrands.com
Jl. Ahmad Yani No. 317
Surabaya 60234
Jawa Timur, Indonesia pengaduan@avianbrands.com
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Avian Brands establishes a special mechanism to handle reports of violations by involving authorized parties in accordance
with the classification of the report received. The authorized parties are responsible for receiving, assessing, and investigating
the reports received. They ensure that each report is processed carefully and in accordance with applicable procedures.
This process involves a thorough investigation of incoming reports to identify and address the breach and implementing the
necessary corrective measures. The entire process is conducted with due regard to the principles of transparency, accountability
and confidentiality to protect the whistleblower and ensure the integrity of the investigation. The parties authorized to follow
up on reporting in Avian Brands are:
The Good Corporate Governance The Board of Commissioners,
Committee and its officers, if the reported party is a member of
if the reported party is an employee the Board of Directors.
of Avian Brands.
The Board of Directors, The Board of Commissioners and
if the reported party is a member of the the Board of Directors,
Whistleblowing System Management. if the reported party is a member of
the Board of Commissioners.
Protection for Whistleblowers
Avian Brands is committed to providing comprehensive protection to whistleblowers to reduce potential risks that may
arise from reporting. To ensure that whistleblowers feel safe and secure, their identity as well as the details of the submitted
report will be kept confidential and only accessed by those authorized to handle the report. Avian Brands assures that the
whistleblower will be protected from all forms of threats, intimidation, or any adverse actions that may be committed by
parties who feel aggrieved by the reporting. This protection further extends to individuals involved in the investigation process
and those who provide additional information related to the report, provided that they maintain confidentiality. With this
policy, Avian Brands aims to create a safe and supportive environment for whistleblowers, and encourage transparency and
honesty in the reporting process without fear of retaliation or negative consequences.
Procedures in Handling Violation Reports
Any report of violations received will be followed up by the collection of preliminary evidence to ensure the validity and
completeness of the information submitted. Upon examination of preliminary evidence, the Good Corporate Governance
Committee will conduct a comprehensive evaluation to determine whether the report meets the criteria for further action.
If the report is deemed worthy of investigation, its status will be escalated and information will be submitted to the Board of
Directors for further action. However, if the report does not meet the investigation criteria, the whistleblower will be informed
of the decision and the reasons behind it.
Reports concerning employees will be processed in the form of an official letter sent to the President Director, while reports
concerning the Board of Directors will be forwarded directly to the Board of Commissioners. This procedure ensures that each
report of violation is handled systematically and in accordance with the standards to ensure transparency and accountability
in the complaint-handling process.
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Complaints Disclosure through Whistleblowing System in 2024
Number of Complaints through Whistleblowing System
As of the end of 2024, Avian Brands received 3 complaint reports submitted to the whistleblowing system with the following
description:
Report Category Total Report
Fraud
Reporting of a case that results in Avian Brands’ financial loss. 0
Major Violations
1
Reporting of a case that constitutes a violation of the SOP or Company Regulation.
Minor Violations
1
Reporting of a case that constitutes a violation of the employee and workplace discipline/organization.
No Issue
1
Reporting of a case that does not indicate a violation.
All reports of violations received by Avian Brands have been thoroughly handled by the competent team and resolved in
accordance with the level of violation and the provisions of the applicable regulations in Avian Brands. The resolution processes
were conducted in compliance with established procedures to ensure that each action was adjusted to the characteristics
and impact of the violation that occurred. Thus, Avian Brands ensures that each report was followed up appropriately and in
accordance with applicable internal policy standards.
Sanctions and Follow-ups of Complaints through Whistleblowing System
If, based on the investigation results, it is proven that the reported party committed fraud or violation, the deciding official will
impose sanctions in accordance with applicable regulations.
Anti-Corruption and Gratification Policy
Anti-Corruption and Gratification Programs and Procedures
Avian Brands is committed to ensuring that all business and operational activities are carried out with accountability and
transparency in accordance with applicable laws and regulations. In upholding these principles, Avian Brands strictly prohibits
all forms of bribery, corruption, gratuities, and money laundering. This anti-corruption and anti-gratuity policy is an integral
part of Avian Brands’ Business Ethics and Code of Conduct. The policy includes the following:
1. Avian Brands’ Personnel may provide gifts, souvenirs, or 3. Avian Brands Personnel are allowed to receive something
entertainment to eligible parties under these conditions: from Avian Brands and/or other parties, which will
a. Supporting the interests of Avian Brands, conducted not affect their actions related to their position and
responsibly and does not cause harm to Avian occupation in Avian Brands, in the case of:
Brands’ image, and done with due regard to the a. Receiving a banquet;
relevant applicable regulations; b. Receive promotional items that contain the logo/
b. Not intended to bribe and/or offer or direct another name of the providing company;
party to commit bribery; and c. In the context of donations in the event of a disaster
c. Not intended to induce the recipient to take any and/or certain celebrations/events according to
action that is contrary to his/her obligations or to local customs; and
applicable regulations; 4. Submit a disclosure report on each granting and
2. Avian Brands Personnel are prohibited from receiving receiving of gratuities in accordance with the procedures
gifts, souvenirs, entertainment, or other facilities or established by Avian Brands
gratuities in any form related to their position and
occupation, which may affect Avian Brands’ decision-
making or violate applicable regulations;
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GOOD CORPORATE GOVERNANCE Training or Socialization of Anti-Corruption and Gratification Policy To ensure effective implementation of this policy, Avian Brands has conducted a comprehensive socialization to Avian Brands Personnel. Each Avian Brands personnel is required to sign the Integrity Pact as a form of commitment to the policy. For new employees, socialization is carried out through an induction program specifically designed to introduce and enforce anti-corruption and anti-gratuity policies from the start of their employment with Avian Brands. Policy to Prevent Insider Trading Avian Brands has implemented the Insider Trading This policy sets clear limits on the use of material information Prevention Policy adopted on December 27, 2021, as an that has not been made public, as well as prohibits parties integral part of Avian Brands’ efforts to maintain market having access to confidential information from engaging integrity and avoid conflicts of interest. This policy aims to in trading that could harm Avian Brands’ interests or create ensure that all securities trading activities of Avian Brands market unfairness. With this measure, Avian Brands is are conducted in a fair and transparent manner and to determined to prevent any form of abuse of information, protect the interests of Avian Brands in implementing and ensure that all activities involving Avian Brands’ various corporate actions. With this policy, Avian Brands is securities are carried out in compliance with the principles committed to maintaining market fairness and protecting of transparency and accountability. integrity of information related to securities trading. Policy on Fulfillment of Creditors’ Rights Avian Brands strictly governs the fulfillment of creditors’ In implementing this policy, Avian Brands pays attention rights through the Policy adopted on December 27, 2021. to both the interests of local creditors and international This policy is designed as a comprehensive guideline creditors in an equal manner. Both the creditors located in in the management of loans and liabilities to creditors, the territory of the Republic of Indonesia (onshore creditors) both domiciled domestically and abroad. With this policy, and outside the territory of Indonesia (offshore creditors) Avian Brands is committed to maintaining integrity of its will get equal and transparent treatment in accordance with relationship with creditors and ensuring that all their rights the applicable provisions. Therefore, Avian Brands strives to are fulfilled in a fair and timely manner. This is essential to ensure that all aspects related to the fulfillment of creditors’ build and maintain creditor’s confidence in Avian Brands’ rights are carried out with the principles of fairness and ability and commitment to meet its financial obligations. responsibility. 186
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Conflict of Interest Guidelines
Avian Brands recognizes the crucial importance of strictly With the Conflict of Interest Guidelines, Avian Brands strives
addressing conflicts of interest to ensure optimal Avian to ensure that every decision and action taken within
Brands management and harmonious relationships with all the scope of Avian Brands, is free from personal interests
stakeholders. Therefore, Avian Brands has formulated Conflict that may harm Avian Brands’ integrity. These guidelines
of Interest Guidelines that aim to create a transparent and are thoroughly enforced to ensure that all Avian Brands’
fair environment. These guidelines refer to the prevailing elements operate within the same framework to achieve
laws and regulations, and integrate the principles under the Avian Brands’ objectives in a sustainable manner and to
GCG Guidelines of Business Ethics and Code of Conduct, as consistently safeguard Avian Brands’ values.
well as the Corporate Culture applicable in Avian Brands.
The adoption of these guidelines and update thereof,
on June 25, 2021 and December 27, 2021, respectively,
reflect Avian Brands’ commitment to continuously enforcing
the highest standards in managing potential conflicts of
interest.
Communication Policy Guidelines
Avian Brands has stipulated the Communication Policy Established on December 27, 2021, the Communication
Guidelines to govern effective and transparent interactions Policy Guidelines also serve as assurance that
with the Shareholders, the Capital Market Authority, Avian Brands maintains standards of communication in
and the capital market community. These guidelines are every interaction with related parties. These guidelines
designed to ensure that all information submitted by support Avian Brands’ effors to maintain integrity
Avian Brands is complete, accurate, actual, not misleading, and credibility in providing information and ensuring
easily accessible in accordance with statutory provisions, that all stakeholders receive equal and fair treatment.
and fair. With these guidelines, Avian Brands aims to Thus, these guidelines are instrumental in building trust
provide convenient and fair access for all Shareholders, and harmonious relationships between Avian Brands and
allowing them to exercise their rights in a fair and its stakeholders.
transparent manner.
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Policy Guideline in Resignation Procedure
of the Board of Commissioners and
the Board of Directors in the Event of
Involvement in Financial Crime
Avian Brands has established a Policy Guideline in Resignation Established on December 27, 2021, this Policy Guideline
Procedure of the Board of Commissioners and the Board of reflects Avian Brands’ commitment to clean and responsible
Directors in the Event of Involvement in Financial Crime, governance practices. With this guideline in place,
as an integral part of the efforts to thoroughly implement Avian Brands emphasizes its determination to enforce the
GCG principles. These guidelines are designed to ensure that rules and strictly respond to violations, in order to protect
any member of the Board of Commissioners and the Board of Avian Brands’ reputation and sustainability. This guideline
Directors involved in financial crimes, shall automatically be serves as a guide for preventive as well as responsive actions
obliged to submit his/her resignation from his/her position. in dealing with situations involving allegations of financial
This constitues a strategic measure to maintain integrity crimes by Avian Brands’ upper management.
and transparency in Avian Brands’ management, and ensure
that all Avian Brands’ leaders fulfill their duties in accordance
with ethical standards and applicable laws.
Affiliated Transaction Guidelines
Avian Brands has established the Affiliated Transaction As part of implementing Related Party Transaction
Guidelines as the main point of reference to ensure that Guidelines, Avian Brands has also established a specific
all transactions with affiliated parties are conducted policy to review and approve transactions with related
transparently in accordance with applicable industry parties. This policy is implemented through the process of
standards. These guidelines are designed to guide all reporting porposed transactions, from the relevant work
Avian Brands’ Personnel in conducting transactions units to the Corporate Secretary and Legal Department.
in order to comply with customary business practices The Corporate Secretary and the Legal Department will then
and relevant laws and regulations. By upholding coordinate with the Related Party Transaction Committee
the arms-length principle, the Guidelines ensure that to review the proposed transactions, and the results will
affiliated party transactions are conducted fairly and do not be submitted by the Related Party Transaction Committee
improperly favor a certain party. to the Board of Directors and the Audit Committee.
Upon review by the Audit Committee, results thereof shall
Established on November 16, 2022, the Affiliated Transaction be submitted to the Board of Commissioners for approval.
Guidelines also serve to strengthen the management’s If approved, the transaction is consummated in accordance
independence in managing relationships with affiliated with OJK Regulation No 42/POJK.04/2020 concerning
parties. The main objective is to prevent potential conflicts Affiliated Transactions and Confict of Interest Transactions;
of interest and avoid actions that may harm the interests of including reporting to and approval of Independent
Avian Brands and its Shareholders. With these guidelines, Shareholders, if required. Each such transaction is constantly
Avian Brands is committed to maintaining integrity ensured to comply with applicable procedures and arms’
and objectivity in all transactions in order to protect length principles.
Avian Brands’ interests and ensure that all transactions are
carried out in a transparent and fair manner.
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Succession Policy in
the Board of Commissioners and
the Board of Directors Nomination Process
Avian Brands has established the Succession Policy in the Adopted on December 27, 2021, this policy also regulates
Board of Commissioners and Board of Directors Nomination the procedures for assessing prospective members
Process to ensure the continuity of the leadership proposed by the Shareholders, the Board of Commissioners,
regeneration and formation process in Avian Brands. or the Board of Directors. The Nomination and Remuneration
This policy is designed to maintain business continuity and Committee conducts a comprehensive evaluation of each
contribute to Avian Brands’ long-term goals. In this policy, nomination, taking into account the qualifications and
the Nomination and Remuneration Committee is responsible requirements in accordance with the Articles of Association
for developing systems and procedures for the selection and and the Board of Commissioners Charter and/or the Board
replacement of members of the Board of Commissioners of Directors Charter. Upon review, recommendations
and Board of Directors to be submitted to the GMS. are submitted to the Board of Commissioners for a final
Each nomination process adheres to GCG principles, resolution before submission to the GMS. This policy ensures
including transparency, accountability and responsibility. efficient succession process and supports the sustainability
of Avian Brands’ operations.
Implementation of Governance Guidelines
for Public Companies
Implementation of Avian Brands’ GCG has been conformed with the Corporate Governance Guidelines for Public Companies,
formulated based on the Circular Letter of the Financial Services Authority No. 32/SEOJK.04/2015. By adhering to this guideline,
Avian Brands ensures proper implementation of all policies and procedures in accordance with applicable regulations and thus
increasing stakeholders’ trust. Implementation of GCG also aims to create an effective supervisory system, prevent potential
conflicts of interest, and ensure integrity in decision-making. Through its commitment to implementing good governance,
Avian Brands strives to sustainably improve performance and maintain its reputation and credibility in the eyes of Shareholders,
regulators, and the wider community.
Avian Brands’ implementation of the principles and recommendations of the guidelines, based on the “fulfilled or explanation”
approach, is described as follows:
No. Aspects/Principles/Recommendations Status Implementation in Avian Brands
I. Relationships of Public Company with the Shareholders in Assuring the Rights of the Shareholders
1. Increasing the Value of the General Meeting of Shareholders (GMS).
a. Public companies have technical voting methods or Fulfilled The voting procedure in the GMS has been
procedures, both publicly and privately, that promote regulated in the Articles of Association related to the
independence and the interests of shareholders. meeting rules and informed to the Shareholders in
the invitation to the GMS and at the beginning of
the GMS.
b. All members of the Board of Commissioners and the Explanation Mr. Wijono Tanoko as the President Director of
Board of Directors of a public company attend the Avian Brands was unable to attend the 2024 Annual
Annual GMS. GMS convened on April 4, 2024.
c. Summary of the GMS minutes is available on the Fulfilled The summary of the minutes of the 2024 GMS has
website of the public company for at least 1 year. been posted on Avian Brands’ website in the Investor
Information Center section.
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GOOD CORPORATE GOVERNANCE
No. Aspects/Principles/Recommendations Status Implementation in Avian Brands
2. Improving the Quality of Public Company’s Communication with Shareholders or Investors.
a. Public companies have a communication policy with Fulfilled The communication policy with Shareholders or
shareholders or investors. Investors is regulated in the Communication Policy
Guidelines stipulated on December 27, 2021.
b. Public companies disclose their communication Fulfilled Avian Brands’ communication policy has been
policy with the Shareholders or Investors on the disclosed on its website.
website.
II. Functions and Roles of the Board of Commissioners
3. Strengthening the Membership and Composition of the Board of Commissioners.
a. The determination of the number of members of the Fulfilled The number of members of the Board of
Board of Commissioners takes into consideration the Commissioners is in accordance with the provisions
conditions of the public company. of Avian Brands’ Articles of Association and has
been adjusted to the complexity of the business of
Avian Brands.
b. The determination of the composition of members of Fulfilled The nomination and appointment of the Board of
the Board of Commissioners takes into consideration Commissioners has taken into account the diversity
the diversity of expertise, knowledge, and required of expertise, knowledge, and experience relevant to
experience. the responsibilities carried out in Avian Brands.
4. Improving the Quality of the Implementation of the Duties and Responsibilities of the Board of Commissioners.
a. The Board of Commissioners has a self-assessment Fulfilled The performance assessment policy for the Board
policy to assess the performance of the Board of of Commissioners is regulated in the Performance
Commissioners. Assessment Policy of the Board of Directors and the
Board of Commissioners which was stipulated on
December 27, 2021.
b. The self-assessment policy to assess the performance Fulfilled The performance assessment policy for the Board of
of the Board of Commissioners is disclosed in the Commissioners is conducted through self-assessment
Annual Report of the public company. which has been disclosed in this Annual Report in the
description of the Performance Assessment of the
Board of Commissioners.
c. The Board of Commissioners has in place a policy Fulfilled The policy concerning the resignation of the Board
related to the resignation of members of the Board of Commissioners is regulated in the Policy in
of Commissioners in the event of involvement in Resignation Procedure of the Board of Commissioners
financial and the Board of Directors in the Event of Involvement
crimes. in Financial Crime which was stipulated on
December 27, 2021.
d. The Board of Commissioners or the Committee Fulfilled The succession policy for members of the Board of
performing the nomination and remuneration Directors is contained in the Succession Policy in the
functions formulates a succession policy in the Nomination Process for Members of the Board of
nomination process of members of the Board Commissioners and the Board of Directors which was
of Directors. stipulated on December 27, 2021.
III. Functions and Roles of the Board of Directors
5. Strengthening the Membership and Composition of the Board of Directors.
a. The determination of the number of members of Fulfilled The number of members of the Board of Directors is
the Board of Directors takes into consideration in accordance with the provisions of Avian Brands’
the condition of the public company, and its Articles of Association and has been adjusted to the
effectiveness in decision-making. complexity of the business of Avian Brands.
b. The determination of the composition of members Fulfilled The nomination and appointment of the Board of
of the Board of Directors considers the diversity of Directors has taken into account the diversity of
expertise, knowledge, and required experience. expertise, knowledge, and experience relevant to the
responsibilities carried out in Avian Brands.
c. Members of the Board of Directors in charge of Fulfilled The Director in charge of accounting or finance has
accounting or finance have the expertise and/or experience in accounting and finance.
knowledge in accounting.
6. Improving the Quality of the Implementation of the Duties and Responsibilities of the Board of Directors.
a. The Board of Directors has in place a self-assessment Fulfilled The performance assessment policy for the Board
policy to assess the performance of the Board of of Directors is regulated in the Performance
Directors. Assessment Policy for the Board of Directors and the
Board of Commissioners which was stipulated on
December 27, 2021.
b. The self-assessment policy to assess the performance Fulfilled The performance assessment policy for the Board
of the Board of Directors is disclosed through the of Directors is conducted through self-assessment
Annual Report of the public company. which has been disclosed in this Annual Report in the
description of the Performance Assessment of Board
of Directors.
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PT Avia Avian Tbk • 2024 Annual Report
No. Aspects/Principles/Recommendations Status Implementation in Avian Brands
c. The Board of Directors has in place a policy related to Fulfilled The policy concerning the resignation of the Board
the resignation of members of the Board of Directors of Directors is regulated in the Policy in Resignation
in the event of involvement in financial crimes. Procedure of the Board of Commissioners and the
Board of Directors in the Event of Involvement
in Financial Crime which was stipulated on
December 27, 2021.
IV. Stakeholders Participation
7. Improving Corporate Governance Aspects through Stakeholders Participation.
a. Public companies have in place a policy to prevent Fulfilled The policy to prevent insider trading is set out in the
insider trading. Policy to Prevent Insider Trading, which was stipulated
on December 27, 2021.
b. Public companies have a policy in place to promote Fulfilled Avian Brands has an anti-corruption and anti-fraud
anti-corruption and anti-fraud. policy in place, which is contained in the Business
Ethics and Code of Conduct of Avian Brands.
c. Public companies have a policy in place for the Fulfilled Avian Brands has in place a policy on the selection
selection and improvement of the capabilities of and improvement of capabilities of suppliers which
suppliers or vendors. serves as a guide for related units in selecting working
partners as stated in the Business Ethics and Code of
Conduct of Avian Brands.
d. Public companies have in place a policy on the Fulfilled The policy on the fulfillment of creditors’ rights is
fulfillment of creditors’ rights. regulated in the Policy on the Fulfillment of Creditors’
Rights which was stipulated on December 27, 2021.
e. Public companies have a policy in place for Fulfilled Avian Brands has in place a Whistleblowing System
whistleblowing systems. Policy which is contained in the Whistleblowing
System.
f. Public companies have in place a policy on provisions Fulfilled Avian Brands has in place a policy concerning the
of long-term incentives for the Board of Directors provision of long-term incentives to employees as
and employees. stated in the ESA Program.
V. Information Disclosure
8. Improving the Implementation of Information Disclosure.
a. Public companies use information technology Fulfilled Avian Brands utilizes information technology,
more broadly, in addition to websites, as media for in addition to the website, in increasing the
information disclosure. dissemination of information, including through Avian
Brands’ Youtube, Instagram, LinkedIn, and Facebook
pages/profiles, as well as through platforms provided
by regulators, including SPE OJK and IDXnet.
b. The Annual Report of a public company discloses the Fulfilled The Annual Report contains the ultimate beneficial
ultimate beneficial owner in the public company’s owners in Avian Brands’ share ownership.
share ownership of at least 5% of shares, in addition
to the disclosure of the ultimate beneficial owner in
the share ownership of the public company through
the Main and Controlling Shareholders.
In addition to implementing GCG practices based on the Governance Guidelines for Public Companies, Avian Brands has also
implemented GCG practices based on the principles and recommendations of the 2021 General Guidelines for Indonesian
Corporate Governance (Pedoman Umum Governansi Korporat Indonesia or “PUGKI”). In general, GCG implementation based
on the 2021 PUGKI consists of 8 principles of good corporate governance which are categorized into the following 3 groups:
1. The first group of principles regulates the management and supervisory functions of the corporation, namely
the Board of Directors and the Board of Commissioners;
2. The second group of principles governs the processes and outputs produced by the Board of Directors and
Board of Commissioners; and
3. The third group of principles governs resource owners, who will primarily benefit from the implementation of corporate
governance.
The implementation of each principle and recommendation of the 2021 PUGKI, including the steps taken to ensure the
effectiveness of management and supervision, as well as how these principles are integrated into daily business processes,
has been conveyed by Avian Brands in this Annual Report in accordance with the discussion of each topic. In addition,
analysis of their fulfillments has also been communicated through Avian Brands website. By disclosing the implementation of
the 2021 PUGKI in the Annual Report and the website, Avian Brands ensures transparency and accountability to all stakeholders,
and provides clear guidance on Avian Brands’ commitment to good and sustainable governance in accordance with industry
best practices
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PT Avia Avian Tbk • 2024 Annual Report
Social and
Environmental
Responsibility
“Avian Brands carries out its Social and
Environmental Responsibility (“SER”)
commitment through Environmental,
Social, Governance (”ESG”) management, in
order to ensure business sustainability and
tangible contributions to stakeholders.
This commitment is not only realized in
every facet of its operations, but also
through the implementation of Avian Brands
Peduli program which strengthens Avian
Brands’ role in supporting quality education,
environmental sustainability, and disaster
management, to improve the welfare of
communities around its operational areas.”
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SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
Avian Brands’ Sustainability Commitment
Avian Brands is firmly committed to its Social and Environmental Responsibility (“SER”), manifested through the management
of Environmental, Social, Governance (“ESG”) in every aspect of its operations. Avian Brands constantly prioritizes this
commitment to maintaining business sustainability and creating long-term value for stakeholders. In each stage of its
operations, Avian Brands strives to minimize environmental impacts while simultaneously enhancing sustainability through
innovation and responsible management.
Implementation of this commitment is reflected in Avian Brands’ products, which uphold the principles of Product
Stewardship and have complied with the standards of the Singapore Green Label. These certifications prove that in addition
to their optimal functions, Avian Brands’ products are also environmentally friendly, free from hazardous materials, and
promote the health and well-being of its customers. Other than the product side, Avian Brands also carries out sustainable
operations by integrating the use of environmentally friendly energy, recycling waste into raw materials, as well as scalable
and well-planned emission management. Furthermore, Avian Brands conducts cradle-to-grave Life Cycle Assessment
(“LCA”) to ensure the entire product life cycle complies with sustainability standards.
In terms of social responsibility, Avian Brands manifests its responsibility through Avian Brands Peduli program, designed to
bring positive impacts to communities around Avian Brands’ operational areas. The program focuses on three main aspects,
i.e., education, environment, and disaster response. In the education sector, Avian Brands contributes to improving the
quality of education through various initiatives, such as improvements in educational facilities. In the environmental sector,
Avian Brands actively participates in environmental conservation and preservation efforts through various initiatives that
support the balance of the ecosystem. As for disaster response, Avian Brands provides quick and effective relief to communities
affected by natural disasters to help ease their hardship and help them recover. Through these programs, Avian Brands not only
contributes to environmental sustainability but also improves the well-being and quality of life of local communities.
All of Avian Brands’ SER activities are constantly guided by the prevailing and relevant laws and regulations, as described below:
1. Law No. 40 of 2007 on Limited Liability Companies;
2. Law No. 11 of 2000 on Job Creation;
3. Government Regulation in Lieu of Law (Peraturan Pemerintah Pengganti Undang-Undang or “Perpu”) No. 2 of 2022 on
Job Creation;
4. Law No. 8 of 1999 on Consumer Protection; and
5. Government Regulation No. 47 of 2012 on Social and Environmental Responsibility of Limited Liability Companies.
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PT Avia Avian Tbk • 2024 Annual Report
Sustainability Performance Overview
Sustainability of Economic Aspect
(in millions Rupiah, unless otherwise stated)
Description 2024 2023 2022
Direct Economic Value Generated
Cash Received from Customers 7,229,124 6,850,984 6,781,888
Other Receipts 31,003 12,664 11,601
Receipts of Finance Income 291,459 308,589 302,422
Proceeds from Disposal of Fixed Assets 11,156 14,094 16,398
Total Direct Economic Value Generated 7,562,742 7,186,331 7,112,309
Distributed Economic Value
Payments to Suppliers 4,625,552 4,341,998 4,598,330
Payments to Employees 779,291 707,405 659,079
Payment for Corporate Income Tax 380,615 482,000 377,003
Dividend Payment to Shareholders 1,348,142 1,362,978 1,115,164
Acquisition of Right-of-Use Assets 39,600 69,588 66,285
Payment of Lease Liabilities 24,758 58,836 25,374
Payment of Interest Expense 2,539 4,077 6,463
Expenses for the Community 2,344 1,995 1,978
Environmental Expenses 1,293 1,059 1,524
OHS Investment Cost 1,307 886 841
Total Distributed Economic Value 7,205,441 7,030,822 6,852,041
Retained Economic Value 357,301 155,509 260,268
Description Unit 2024 2023 2022
Operational Performance
Manufacturing Volumes Metric Tons 197,339 180,540 170,986
Environmentally Friendly Products
Product Brand 34 29 24
Singapore Green Label Certified Product Categories
Product or Service Quantity Product Brand 105 96 88
Local Suppliers Engagement
Local Suppliers
Number of
Total Local Suppliers 217 219 209
Company
Percentage of Local Supplier Engagement by Entity
% 76.14 77.94 76.00
compared to Total Suppliers
Local Employees
Total Local Employee People 8,387* 7,577* 7,231*
Percentage of Local Labor Involvement
% 90.03* 89.38* 89.54*
in Avian Brands Operational Activities
Notes:
* AVIA, TKTW, and TKBI.
Sustainability of Environmental Aspect
Description Unit 2024 2023 2022
Energy Efficiency
Total Energy Usage GJ 211,358.89 215,727.57* 212,241.33*
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SOCIAL AND ENVIRONMENTAL RESPONSIBILITY
Description Unit 2024 2023 2022
GJ/Ton of Product 0.17 0.18* 0.19
kWh/Ton of
47.20 49.74* 52.18*
Energy Intensity Product
Thousand Rupiah/
36,137.43 37,775.99* 40,774.22*
Ton of Product
Energy Intensity Efficiency GJ/Ton of Product 0.01 0.01* 0.01*
Materials Used in Paint Production
Renewable Materials Purchase Ton 89,589.48 72,903.20 61,888.17
Non-Renewable Materials Purchase Ton 69,528.10 70,887.41 74,937.20
Total Material Purchase Ton 159,117.58 143,790.61 136,825.37
Emissions Management**
Total of Scope 1 and Scope 2 Emissions TonCO2e 11,244.89 11,299.92* 11,414.23*
KgCO2e/
Intensity of Scope 1 and Scope 2 Emissions 23.26 24.45* 25.16*
Ton of Product
Total Scope 3 Emissions TonCO2e 154,786.52 0 0
Water Management
Total Water Usage Megaliter 142.48 141.68 113.98
Megaliter/
Water Intensity 0.0007 0.0008* 0.0008
Ton of Product
Reduction of Hazardous Waste Generation
Reuse of Industrial Waste Water Ton 2,650.14 1,820.24 2,482.98
Reuse of Washing Solvent Ton 151.19 166.27 180.87
Hazardous Waste (liquid and solid managed by third parties) Ton 733.94 886.77 946.96
Non-Hazardous Waste Ton 166.99 185.07 157.68
Discharge Water Megaliter 4.80 3.83 4.14
Biodiversity Preservation***
Total Trees Planted Trees 20,794 14,880 6,797
Type of Trees Planted Type 169 94 69
Carbon Sequestration Value KgCO2e 4,835,028 1,200,987 941,337
Notes:
* Data restated.
** Scope 3 GHG emission is being measured only for 2024.
*** Data represents accumulated trees planted over the years by Avian Brands around the locations of AVIA, TKTW, and the slopes of Mount Arjuno.
Sustainability of Social Aspect
Description Unit 2024* 2023* 2022*
Community Development and Empowerment (Pengembangan dan Pemberdayaan Masyarakat or “PPM”)**
Number of PPM Program Total Program 195 98 27
Cost of PPM Program Million Rupiah 2,344 1,995 *** 1,978
Manpower Management
Total Employees (Including Outsourcing) People 9,322 8,483 * 8,082 *
Total Female Employees (Including Outsourcing) People 2,109 1,724 * 1,626 *
Number of Participants in the Competence Development People 7,632 6,173 3,096
Total Recordable Injury Rate Rate 1.57 2.16 2.01
Total Recordable Incident Frequency Rate Rate 2.05 2.69 1.74
Notes:
* AVIA, TKTW, and TKBI;
** AVIA; and
*** Data restated.
A complete description of SER policies and programs is discussed more comprehensively in our Sustainability Report,
which is presented separately from this Annual Report.
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PT Avia Avian Tbk • 2024 Annual Report
Annual Report Responsibility
Statement of Members of the Board of Commissioners and the Board of Directors
on the Responsibility for the 2024 Annual Report of
PT Avia Avian Tbk
We, the undersigned, hereby declare that all information in the 2024 Annual Report of PT Avia Avian Tbk
(the “Company”) has been completely presented and we shall be fully responsible for the correctness of contents
in the Company’s Annual Report.
This statement is hereby made in all truthfulness.
Surabaya, March 12, 2025
The Board of Commissioners,
Hermanto Tanoko Mohammad Noor Rachman Soejoeti
President Commissioner Independent Commissioner
The Board of Directors,
Wijono Tanoko Ruslan Tanoko
President Director Vice President Director
Robert Christian Tanoko Kurnia Hadi Sinanto Angelica Tanisia Jozar
Director Director Director
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PT AVIA AVIAN TBK
DAN ENTITAS ANAKNYA/
AND ITS SUBSIDIARIES
LAPORAN KEUANGAN KONSOLIDASIAN
TANGGAL 31 DESEMBER 2024
SERTA UNTUK TAHUN YANG BERAKHIR
PADA TANGGAL TERSEBUT
DAN LAPORAN AUDITOR INDEPENDEN
CONSOLIDATED FINANCIAL STATEMENTS
AS OF DECEMBER 31, 2024
AND FOR THE YEAR THEN ENDED
AND INDEPENDENT AUDITOR’S REPORT
Page 202
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN TBK
DAN ENTITAS ANAKNYA PT AVIA AVIAN TBK
LAPORAN KEUANGAN KONSOLIDASIAN AND ITS SUBSIDIARIES
TANGGAL 31 DESEMBER 2024 CONSOLIDATED FINANCIAL STATEMENTS
SERTA UNTUK TAHUN YANG BERAKHIR AS OF DECEMBER 31, 2024
PADA TANGGAL TERSEBUT AND FOR THE YEAR THEN ENDED
DAN LAPORAN AUDITOR INDEPENDEN WITH INDEPENDENT AUDITOR’S REPORT
Halaman/Pages
Daftar isi Table of Contents
Surat Pernyataan Direksi Directors’ Statement Letter
Laporan Auditor Independen Independent Auditor’s Report
Laporan Posisi Keuangan Konsolidasian 1-3 Consolidated Statement of Financial Position
Laporan Laba Rugi dan Penghasilan Consolidated Statement of Profit or Loss and Other
Komprehensif Lain Konsolidasian 4-5 Comprehensive Income
Laporan Perubahan Ekuitas Konsolidasian 6 Consolidated Statement of Changes in Equity
Laporan Arus Kas Konsolidasian 7-8 Consolidated Statement of Cash Flows
Catatan atas Laporan Keuangan Konsolidasian 9 - 94 Notes to the Consolidated Financial Statements
Page 203
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The original report included herein is in the Indonesian Language.
Laporan Auditor Independen Independent Auditor’s Report
Laporan No. 00032/2.0851/AU.1/04/0453-1/1/II/2025 Report No. 00032/2.0851/AU.1/04/0453-1/1/II/2025
Pemegang Saham, Dewan Komisaris dan Direksi The Shareholders, Boards of Commissioners and
Directors
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
Opini Opinion
Kami telah mengaudit laporan keuangan konsolidasian We have audited the consolidated financial statements of
PT Avia Avian Tbk dan Entitas Anaknya (“Grup”), yang PT Avia Avian Tbk and its Subsidiaries (the “Group”),
terdiri dari laporan posisi keuangan konsolidasian tanggal which comprise the consolidated statement of financial
31 Desember 2024, serta laporan laba rugi dan position as of December 31, 2024, and the consolidated
penghasilan komprehensif lain konsolidasian, laporan statements of profit or loss and other comprehensive
perubahan ekuitas konsolidasian, dan laporan arus kas income, consolidated statement of changes in equity and
konsolidasian untuk tahun yang berakhir pada tanggal consolidated statement of cash flows for the year then
tersebut, serta catatan atas laporan keuangan ended, and notes to the consolidated financial
konsolidasian, termasuk informasi kebijakan akuntansi statements, including material accounting policy
material. information.
Menurut opini kami, laporan keuangan konsolidasian In our opinion, the accompanying consolidated financial
terlampir menyajikan secara wajar, dalam semua hal yang statements present fairly, in all material respects, the
material, posisi keuangan konsolidasian Grup tanggal consolidated financial position of the Group as of
31 Desember 2024, serta kinerja keuangan konsolidasian December 31, 2024, and its consolidated financial
dan arus kas konsolidasiannya untuk tahun yang berakhir performance and its consolidated cash flows for the year
pada tanggal tersebut, sesuai dengan Standar Akuntansi then ended, in accordance with Indonesian Financial
Keuangan di Indonesia. Accounting Standards.
Basis Opini Basis for Opinion
Kami melaksanakan audit kami berdasarkan Standar We conducted our audit in accordance with Standards
Audit yang ditetapkan oleh Institut Akuntan Publik on Auditing established by the Indonesian Institute of
Indonesia. Tanggung jawab kami menurut standar Certified Public Accountants. Our responsibilities under
tersebut diuraikan lebih lanjut dalam paragraf Tanggung those standards are further described in the Auditor’s
Jawab Auditor terhadap Audit atas Laporan Keuangan Responsibilities for the Audit of the Consolidated
Konsolidasian pada laporan kami. Kami independen Financial Statements paragraph of our report. We are
terhadap Grup berdasarkan ketentuan etika yang relevan independent of the Group in accordance with the ethical
dalam audit kami atas laporan keuangan konsolidasian di requirements that are relevant to our audit of the
Indonesia, dan kami telah memenuhi tanggung jawab consolidated financial statements in Indonesia, and we
etika lainnya berdasarkan ketentuan tersebut. Kami yakin have fulfilled our other ethical responsibilities in
bahwa bukti audit yang telah kami peroleh adalah cukup accordance with these requirements. We believe that the
dan tepat untuk menyediakan suatu basis bagi opini audit audit evidence we have obtained is sufficient and
kami. appropriate to provide a basis for our opinion.
Hal Audit Utama Key Audit Matters
Hal audit utama adalah hal-hal yang, menurut Key audit matters are those matters that, in our
pertimbangan profesional kami, merupakan hal yang professional judgment, were of most significance in our
paling signifikan dalam audit kami atas laporan keuangan audit of the consolidated financial statements of the
konsolidasian periode kini. Hal-hal tersebut disampaikan current period. These matters were addressed in the
dalam konteks audit kami atas laporan keuangan context of our audit of the consolidated financial
konsolidasian secara keseluruhan, dan dalam statements as a whole, and in forming our opinion
merumuskan opini kami atas laporan keuangan thereon, and we do not provide a separate opinion on
konsolidasian terkait, kami tidak menyatakan suatu opini these matters.
terpisah atas hal audit utama tersebut.
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The original report included herein is in the Indonesian Language.
Estimasi atas Beban Akrual Pemasaran dan Promosi Estimates for Accrued Marketing and Promotion
Expenses
Lihat Catatan 3t “Informasi Kebijakan Akuntansi yang Refer to Note 3t “Material Accounting Policy Information -
Material - Akrual dan provisi”, Catatan 3v “Informasi Accruals and provisions”, Note 3v “Material Accounting
Kebijakan Akuntansi yang Material - Pengakuan Policy Information - Revenue and expense recognition -
pendapatan dan beban - Program loyalitas pelanggan”, Customer loyalty programme”, Note 4 “Critical
Catatan 4 “Pertimbangan Akuntansi Penting dan Sumber Accounting Judgments and Key Sources of Estimation
Utama Ketidakpastian Estimasi”, dan Catatan 15 “Beban Uncertainty”, and Note 15 “Accrued Expenses” to the
Akrual” atas laporan keuangan konsolidasian. consolidated financial statements.
Pada tanggal 31 Desember 2024, Grup mencatat beban As of December 31, 2024, the Group recorded accrued
akrual atas pemasaran dan promosi sebesar promotion and marketing expenses amounting to
Rp 187.362 juta pada laporan posisi keuangan Rp 187,362 million in the consolidated statement of
konsolidasian. Akrual tersebut adalah sehubungan financial position. The accrual is in relation to sales
dengan berbagai skema tetap dan variabel atas promosi promotion schemes given to customers, which consisted
penjualan yang diberikan kepada pelanggan. of various fixed and variable schemes.
Grup menggunakan asumsi dan pertimbangan yang The Group exercised significant assumptions and
signifikan untuk mengestimasi jumlah beban akrual judgments to estimate the amount of marketing and
pemasaran dan promosi pada tanggal 31 Desember promotion accruals as of December 31, 2024. The key
2024. Asumsi-asumsi utama dalam penentuan beban assumptions in determining the accrued marketing and
akrual pemasaran dan promosi adalah harga barang promotion expenses were price of the promotional goods
promosi dan estimasi pencapaian penjualan, serta and estimated sales achievement, as well as evaluating
mengevaluasi hasil historis realisasi promosi penjualan. historical results of sales promotion realization.
Ketidakpastian muncul sehubungan dengan harga barang Uncertainties exist with respect to price of the
promosi dan jumlah aktual pencapaian penjualan, yang promotional goods and the actual sales achievement,
mungkin berbeda dengan estimasi. which may be different from the estimation.
Kami menetapkan area ini sebagai hal audit utama We determined this area as a key audit matter due to the
dikarenakan adanya risiko bawaan terkait ketidakpastian inherent risk of uncertainties and significant judgements
dan terdapat pertimbangan signifikan yang dilakukan oleh in determining the amount of the accrued marketing and
manajemen dalam menentukan estimasi beban akrual promotion expenses at the end of the year.
pemasaran dan promosi pada akhir tahun.
Bagaimana audit kami merespons Hal Audit Utama How our audit addressed the Key Audit Matters
• Kami memperoleh pemahaman tentang metodologi • We obtained an understanding of the methodologies
yang digunakan oleh Grup untuk memperkirakan used by the Group to estimate the accrual of
beban akrual pemasaran dan promosi. marketing and promotion expenses.
• Kami memperoleh rincian pemasaran dan promosi • We obtained the marketing and promotion listing
dan menguji kelengkapan serta akurasi data input, and tested the completeness and accuracy of data
dasar, dan asumsi yang digunakan oleh Grup dalam inputs, basis and assumptions used by the Group in
perhitungan akrual untuk pemasaran dan promosi. the computation of accrual for marketing and
promotion.
• Kami mengevaluasi perhitungan Grup atas beban • We evaluated the Group’s calculation of accrued
akrual pemasaran dan promosi dengan menguji, marketing and promotion expenses by assessing, on
secara sampel, kecukupan saldo akrual dan a sampling basis, the adequacy of accrued balances
perhitungan mereka.
and their calculation.
• Kami menguji realisasi beban akrual pemasaran dan • We tested the realization of the accrued marketing
promosi yang dibuat pada tahun sebelumnya dan and promotion expenses made in prior year and
tahun berjalan dengan memeriksa ke dokumen during the year, by checking to supporting
pendukung yang relevan, secara sampel. documents on a sample basis.
• Kami mengevaluasi klasifikasi beban pemasaran dan • We evaluated the classification of marketing and
promosi dalam laporan laba rugi dan penghasilan promotion expenses in the consolidated statement
komprehensif lain konsolidasian untuk setiap skema of profit or loss and other comprehensive income for
pemasaran dan promosi. each of the marketing and promotion schemes.
Page 206
The original report included herein is in the Indonesian Language. Hal Lain Other Matter Laporan keuangan konsolidasian Grup tanggal The consolidated financial statements of the Group as of 31 Desember 2023 dan untuk tahun yang berakhir pada December 31, 2023 and for the year then ended were tanggal tersebut diaudit oleh auditor independen lain yang audited by another independent auditor who expressed menyatakan opini tanpa modifikasian atas laporan an unmodified opinion on those consolidated financial keuangan konsolidasian tersebut pada tanggal statements on February 27, 2024. 27 Februari 2024. Informasi Lain Other Information Manajemen bertanggung jawab atas informasi lain. Management is responsible for the other information. Informasi lain terdiri dari informasi yang tercantum dalam The other information comprises the information included laporan tahunan pada tanggal 31 Desember 2024 dan in the annual report as of December 31, 2024 and for the untuk tahun yang berakhir pada tanggal tersebut, tetapi year then ended, but does not include the consolidated tidak mencantumkan laporan keuangan konsolidasian dan financial statements and our auditor’s report thereon. laporan auditor kami. Laporan tahunan diharapkan akan The annual report is expected to be made available to us tersedia bagi kami setelah tanggal laporan auditor ini. after the date of this auditor's report. Opini kami atas laporan keuangan konsolidasian tidak Our opinion on the consolidated financial statements mencakup informasi lain, dan oleh karena itu, kami tidak does not cover the other information, and accordingly, menyatakan bentuk keyakinan apapun atas informasi lain we will not express any form of assurance conclusion tersebut. thereon. Sehubungan dengan audit kami atas laporan keuangan In connection with our audit of the consolidated financial konsolidasian, tanggung jawab kami adalah untuk statements, our responsibility is to read the other membaca informasi lain yang teridentifikasi di atas, jika information identified above when it becomes available tersedia dan, dalam melaksanakannya, and, in doing so, consider whether the other information mempertimbangkan apakah informasi lain mengandung is materially inconsistent with the consolidated financial ketidakkonsistensian material dengan laporan keuangan statements or our knowledge obtained in the audit, or konsolidasian atau pemahaman yang kami peroleh otherwise appears to be materially misstated. selama audit, atau mengandung kesalahan penyajian material. Ketika kami membaca laporan tahunan, jika kami When we read the annual report, if we conclude that menyimpulkan bahwa terdapat suatu kesalahan penyajian there is a material misstatement therein, we are required material di dalamnya, kami diharuskan untuk to communicate the matter to those charged with mengomunikasikan hal tersebut kepada pihak yang governance and take appropriate actions in accordance bertanggung jawab atas tata kelola dan mengambil with Standards on Auditing established by the tindakan tepat berdasarkan Standar Audit yang ditetapkan Indonesian Institute of Certified Public Accountants. oleh Institut Akuntan Publik Indonesia. Tanggung Jawab Manajemen dan Pihak yang Responsibilities of Management and Those Charged Bertanggung Jawab atas Tata Kelola terhadap with Governance for the Consolidated Financial Laporan Keuangan Konsolidasian Statements Manajemen bertanggung jawab atas penyusunan dan Management is responsible for the preparation and fair penyajian wajar laporan keuangan konsolidasian tersebut presentation of the consolidated financial statements in sesuai dengan Standar Akuntansi Keuangan di Indonesia, accordance with Indonesian Financial Accounting dan atas pengendalian internal yang dianggap perlu oleh Standards, and for such internal control as management manajemen untuk memungkinkan penyusunan laporan determines is necessary to enable the preparation of keuangan konsolidasian yang bebas dari kesalahan consolidated financial statements that are free from penyajian material, baik yang disebabkan oleh material misstatement, whether due to fraud or error. kecurangan maupun kesalahan.
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The original report included herein is in the Indonesian Language.
Dalam penyusunan laporan keuangan konsolidasian, In preparing the consolidated financial statements,
manajemen bertanggung jawab untuk menilai management is responsible for assessing the Group’s
kemampuan Grup dalam mempertahankan ability to continue as a going concern, disclosing, as
kelangsungan usahanya, mengungkapkan, sesuai applicable, matters related to going concern, and using
dengan kondisinya, hal-hal yang berkaitan dengan the going concern basis of accounting, unless
kelangsungan usaha, dan menggunakan basis akuntansi management either intends to liquidate the Group or to
kelangsungan usaha, kecuali manajemen memiliki cease its operations, or has no realistic alternative but to
intensi untuk melikuidasi Grup atau menghentikan do so.
operasinya atau tidak memiliki alternatif yang realistis
selain melaksanakannya.
Pihak yang bertanggung jawab atas tata kelola Those charged with governance are responsible for
bertanggung jawab untuk mengawasi proses pelaporan overseeing the Group’s financial reporting process.
keuangan Grup.
Tanggung Jawab Auditor terhadap Audit atas Auditor’s Responsibilities for the Audit of the
Laporan Keuangan Konsolidasian Consolidated Financial Statements
Tujuan kami adalah untuk memeroleh keyakinan Our objectives are to obtain reasonable assurance about
memadai tentang apakah laporan keuangan whether the consolidated financial statements as a whole
konsolidasian secara keseluruhan bebas dari kesalahan are free from material misstatement, whether due to fraud
penyajian material, baik yang disebabkan oleh or error, and to issue an auditor’s report that includes our
kecurangan maupun kesalahan, dan untuk menerbitkan opinion. Reasonable assurance is a high level of
laporan auditor yang mencakup opini kami. Keyakinan assurance, but is not a guarantee that an audit conducted
memadai merupakan suatu tingkat keyakinan tinggi, in accordance with Standards on Auditing will always
namun bukan merupakan suatu jaminan bahwa audit detect a material misstatement when it exists.
yang dilaksanakan berdasarkan Standar Audit akan Misstatements can arise from fraud or error and are
selalu mendeteksi kesalahan penyajian material ketika considered material if, individually or in the aggregate,
hal tersebut ada. Kesalahan penyajian dapat disebabkan they could reasonably be expected to influence the
oleh kecurangan maupun kesalahan dan dianggap economic decisions of users taken on the basis of these
material jika, baik secara individual maupun secara consolidated financial statements.
agregat, dapat diekspektasikan secara wajar akan
memengaruhi keputusan ekonomi yang diambil oleh
pengguna berdasarkan laporan keuangan konsolidasian
tersebut.
Sebagai bagian dari suatu audit berdasarkan Standar As part of an audit in accordance with Standards on
Audit, kami menerapkan pertimbangan profesional dan Auditing, we exercise professional judgment and maintain
mempertahankan skeptisisme profesional selama audit. professional skepticism throughout the audit. We also:
Kami juga:
• Mengidentifikasi dan menilai risiko kesalahan • Identify and assess the risks of material misstatement
penyajian material dalam laporan keuangan of the consolidated financial statements, whether due
konsolidasian, baik yang disebabkan oleh to fraud or error, design and perform audit procedures
kecurangan maupun kesalahan, mendesain dan responsive to those risks, and obtain audit evidence
melaksanakan prosedur audit yang responsif that is sufficient and appropriate to provide a basis for
terhadap risiko tersebut, serta memeroleh bukti audit our opinion. The risk of not detecting a material
yang cukup dan tepat untuk menyediakan basis bagi misstatement resulting from fraud is higher than for
opini kami. Risiko tidak terdeteksinya kesalahan one resulting from error, as fraud may involve
penyajian material yang disebabkan oleh kecurangan collusion, forgery, intentional omissions,
lebih tinggi dari yang disebabkan oleh kesalahan, misrepresentations, or the override of internal control.
karena kecurangan dapat melibatkan kolusi,
pemalsuan, penghilangan secara sengaja,
pernyataan salah, atau pengabaian pengendalian
internal.
• Memeroleh suatu pemahaman tentang pengendalian • Obtain an understanding of internal control relevant to
internal yang relevan dengan audit untuk mendesain the audit in order to design audit procedures that are
prosedur audit yang tepat sesuai dengan kondisinya, appropriate in the circumstances, but not for the
tetapi bukan untuk tujuan menyatakan opini atas purpose of expressing an opinion on the effectiveness
keefektivitasan pengendalian internal Grup. of the Group’s internal control.
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The original report included herein is in the Indonesian Language.
• Mengevaluasi ketepatan kebijakan akuntansi yang • Evaluate the appropriateness of accounting policies
digunakan serta kewajaran estimasi akuntansi dan used and the reasonableness of accounting estimates
pengungkapan terkait yang dibuat oleh manajemen. and related disclosures made by management.
• Menyimpulkan ketepatan penggunaan basis • Conclude on the appropriateness of management's
akuntansi kelangsungan usaha oleh manajemen dan, use of the going concern basis of accounting and,
berdasarkan bukti audit yang diperoleh, apakah based on the audit evidence obtained, whether a
terdapat suatu ketidakpastian material yang terkait material uncertainty exists related to events or
dengan peristiwa atau kondisi yang dapat conditions that may cast significant doubt on the
menyebabkan keraguan signifikan atas kemampuan Group’s ability to continue as a going concern. If we
Grup untuk mempertahankan kelangsungan conclude that a material uncertainty exists, we are
usahanya. Ketika kami menyimpulkan bahwa required to draw attention in our auditor's report to the
terdapat suatu ketidakpastian material, kami related disclosures in the consolidated financial
diharuskan untuk menarik perhatian dalam laporan statements or, if such disclosures are inadequate, to
auditor kami ke pengungkapan terkait dalam laporan modify our opinion. Our conclusions are based on the
keuangan konsolidasian atau, jika pengungkapan audit evidence obtained up to the date of our auditor's
tersebut tidak memadai, harus menentukan apakah report. However, future events or conditions may
perlu untuk memodifikasi opini kami. Kesimpulan cause the Group to cease to continue as a going
kami didasarkan pada bukti audit yang diperoleh concern.
hingga tanggal laporan auditor kami. Namun,
peristiwa atau kondisi masa depan dapat
menyebabkan Grup tidak dapat mempertahankan
kelangsungan usaha.
• Mengevaluasi penyajian, struktur, dan isi laporan • Evaluate the overall presentation, structure and
keuangan konsolidasian secara keseluruhan, content of the consolidated financial statements,
termasuk pengungkapannya, dan apakah laporan including the disclosures, and whether the
keuangan konsolidasian mencerminkan transaksi consolidated financial statements represent the
dan peristiwa yang mendasarinya dengan suatu cara underlying transactions and events in a manner that
yang mencapai penyajian wajar. achieves fair presentation.
• Memeroleh bukti audit yang cukup dan tepat terkait • Obtain sufficient appropriate audit evidence regarding
informasi keuangan entitas atau aktivitas bisnis the financial information of the entities or business
dalam Grup untuk menyatakan opini atas laporan activities within the Group to express an opinion on the
keuangan konsolidasian. Kami bertanggung jawab consolidated financial statements. We are responsible
atas arahan, supervisi, dan pelaksanaan audit Grup. for the direction, supervision and performance of the
Kami tetap bertanggung jawab sepenuhnya atas Group audit. We remain solely responsible for our
opini audit kami. audit opinion.
Kami mengomunikasikan kepada pihak yang We communicate with those charged with governance
bertanggung jawab atas tata kelola mengenai, antara regarding, among other matters, the planned scope and
lain, ruang lingkup dan saat yang direncanakan atas timing of the audit and significant audit findings, including
audit, serta temuan audit signifikan, termasuk setiap any significant deficiencies in internal control that we
defisiensi signifikan dalam pengendalian internal yang identify during our audit.
teridentifikasi oleh kami selama audit.
Kami juga memberikan suatu pernyataan kepada pihak We also provide those charged with governance with a
yang bertanggung jawab atas tata kelola bahwa kami statement that we have complied with relevant ethical
telah mematuhi ketentuan etika yang relevan mengenai requirements regarding independence, and to
independensi, dan mengomunikasikan seluruh communicate with them all relationships and other matters
hubungan, serta hal-hal lain yang dianggap secara wajar that may reasonably be thought to bear on our
berpengaruh terhadap independensi kami, dan, jika independence, and where applicable, related safeguards.
relevan, pengamanan terkait.
Page 209
The original report included herein is in the Indonesian Language.
Dari hal-hal yang dikomunikasikan kepada pihak yang From the matters communicated with those charged with
bertanggung jawab atas tata kelola, kami menentukan governance, we determine those matters that were of
hal-hal tersebut yang paling signifikan dalam audit most significance in the audit of the consolidated financial
atas laporan keuangan konsolidasian periode kini dan statements of the current period and are therefore the key
oleh karenanya menjadi hal audit utama. Kami audit matters. We describe these matters in our auditor’s
menguraikan hal audit utama dalam laporan auditor report unless law or regulation precludes public disclosure
kami, kecuali peraturan perundang-undangan about the matter or when, in extremely rare
melarang pengungkapan publik tentang hal tersebut circumstances, we determine that a matter should not be
atau ketika, dalam kondisi yang sangat jarang terjadi, communicated in our report because the adverse
kami menentukan bahwa suatu hal tidak boleh consequences of doing so would reasonably be expected
dikomunikasikan dalam laporan kami karena to outweigh the public interest benefits of such
konsekuensi merugikan dari mengomunikasikan hal communication.
tersebut akan diekspektasikan secara wajar melebihi
manfaat kepentingan publik atas komunikasi tersebut.
Kantor Akuntan Publik/Registered Public Accountants
TERAMIHARDJA, PRADHONO & CHANDRA
Agustina Felisia, CPA
Izin Akuntan Publik/Public Accountant License No. 0453
24 Februari 2025 February 24, 2025
Page 210
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF
KONSOLIDASIAN FINANCIAL POSITION
Tanggal 31 Desember 2024 As of December 31, 2024
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2024 2023*)
ASET ASSETS
ASET LANCAR CURRENT ASSETS
Kas dan setara kas 3j, 5 2,329,491 1,230,544 Cash and cash equivalents
Kas di bank dan deposito Restricted cash in bank
yang dibatasi penggunaannya 3,000 2,100 and time deposits
Investasi 3i, 10 2,952,900 4,754,087 Investments
Piutang usaha Trade receivables
Pihak berelasi 3k, 6, 7 16,319 14,018 Related parties
Pihak ketiga 3k, 6 1,445,418 1,229,025 Third parties
Piutang lain-lain Other receivables
Pihak berelasi 3k, 7, 8 83,283 56,538 Related parties
Pihak ketiga 3k, 8 45,420 49,331 Third parties
Persediaan 3l, 9 1,558,203 1,519,549 Inventories
Hak retur aset 3v 19,333 16,426 Right of return assets
Uang muka pemasok 5,791 7,734 Advances to suppliers
Beban dibayar dimuka 14,456 11,381 Prepaid expenses
Pajak dibayar dimuka 3w, 19 19,748 20,069 Prepaid taxes
Jumlah Aset Lancar 8,493,362 8,910,802 Total Current Assets
ASET TIDAK LANCAR NON-CURRENT ASSETS
Properti investasi 3o, 11 290,510 290,113 Investment properties
Aset tetap - neto 3m, 12 1,930,297 1,659,163 Fixed assets - net
Aset hak-guna 3n, 7, 16 180,949 150,551 Right-of-use assets
Aset takberwujud 3p 28,734 25,808 Intangible assets
Investasi pada ventura bersama 3f, 13 19,976 17,298 Investment in joint venture
Aset pajak tangguhan 3w, 19 36,144 43,878 Deferred tax assets
Estimated claims for
Taksiran klaim pajak penghasilan 3w, 19 29,432 29,432 income tax refund
Aset tidak lancar lainnya 51,571 39,942 Other non-current assets
Jumlah Aset Tidak Lancar 2,567,613 2,256,185 Total Non-Current Assets
JUMLAH ASET 11,060,975 11,166,987 TOTAL ASSETS
*) Setelah direklasifikasi (Catatan 36) *) As reclassified (Note 36)
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
1
Page 211
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF
KONSOLIDASIAN (lanjutan) FINANCIAL POSITION (continued)
Tanggal 31 Desember 2024 As of December 31, 2024
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2024 2023
LIABILITAS DAN EKUITAS LIABILITIES AND EQUITY
LIABILITAS LIABILITIES
LIABILITAS JANGKA PENDEK CURRENT LIABILITIES
Pinjaman bank jangka pendek 3u, 17 9,189 5,222 Short-term bank loans
Utang usaha Trade payables
Pihak berelasi 3r, 7, 14 362,941 279,321 Related parties
Pihak ketiga 3r, 14 424,760 371,337 Third parties
Utang lain-lain Other payables
Pihak berelasi 3r, 7 487 121 Related parties
Pihak ketiga 3r 24,136 30,450 Third parties
Pendapatan diterima dimuka Unearned revenue
Pihak berelasi 3v, 7 1,611 1,802 Related parties
Pihak ketiga 3v 599 362 Third parties
Beban akrual 3t, 15 252,661 301,835 Accrued expenses
Imbalan kerja jangka pendek 3s, 18 108,618 97,052 Short-term employee benefits
Utang pajak 3w, 19 72,123 52,584 Taxes payable
Uang jaminan pelanggan 3,000 2,100 Customer guarantee
Provisi retur penjualan 3v 26,683 21,979 Provision for sales return
Liabilitas sewa - bagian jangka Lease liabilities
pendek 3n, 7, 16 64,777 10,965 - current portion
Jumlah Liabilitas Jangka Pendek 1,351,585 1,175,130 Total Current Liabilities
LIABILITAS JANGKA PANJANG NON-CURRENT LIABILITIES
Liabilitas sewa - bagian jangka Lease liabilities - non-current
panjang 3n, 16 19,416 15,725 portion
Liabilitas imbalan kerja 3s, 18 58,094 54,643 Employee benefit liabilities
Jumlah Liabilitas Jangka Panjang 77,510 70,368 Total Non-Current Liabilities
Jumlah Liabilitas 1,429,095 1,245,498 Total Liabilities
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
2
Page 212
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN TBK
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN POSISI KEUANGAN CONSOLIDATED STATEMENT OF
KONSOLIDASIAN (lanjutan) FINANCIAL POSITION (continued)
Tanggal 31 Desember 2024 As of December 31, 2024
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2024 2023
EKUITAS EQUITY
Ekuitas yang Dapat Equity Attributable to the
Diatribusikan kepada Equity Holders of the
Pemilik Entitas Induk Parent Company
Modal saham - nilai nominal Share capital - par value Rp 10
Rp 10 (nilai penuh) per saham (full amount) per share
Modal dasar - 200.000.000.000 Authorised - 200,000,000,000
saham shares
Modal ditempatkan dan disetor Issued and fully paid -
penuh - 61.953.555.600 saham 3x, 20 619,536 619,536 61,953,555,600 shares
Tambahan modal disetor 3e, 21 7,793,218 7,793,218 Additional paid-in capital
Saham treasuri 3x, 20 (574,552) (16,369) Treasury shares
Surplus revaluasi aset tetap 229,406 229,406 Revaluation surplus of fixed assets
Bagian penghasilan komprehensif Share of other comprehensive
lain dari ventura bersama 85 85 income of joint venture
Perubahan nilai wajar atas Changes in fair
investasi pada surat value of investment
utang negara 10 (103,357) (56,408) in government bonds
Keuntungan pengukuran kembali Remeasurement gain on
liabilitas imbalan kerja 9,880 9,921 employee benefit liabilities
Saldo laba Retained earnings
Telah ditentukan penggunaannya 22 124,000 124,000 Appropriated
Belum ditentukan penggunaannya 1,527,177 1,210,978 Unappropriated
Sub-Jumlah 9,625,393 9,914,367 Sub-Total
Kepentingan Non-Pengendali 3d 6,487 7,122 Non-Controlling Interests
Jumlah Ekuitas 9,631,880 9,921,489 Total Equity
JUMLAH LIABILITAS DAN EKUITAS 11,060,975 11,166,987 TOTAL LIABILlTlES AND EQUITY
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
3
Page 213
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI CONSOLIDATED STATEMENT OF
DAN PENGHASILAN KOMPREHENSIF LAIN PROFIT OR LOSS AND
KONSOLIDASIAN OTHER COMPREHENSIVE INCOME
Untuk Tahun yang Berakhir Pada Tanggal For the Year Ended
31 Desember 2024 December 31, 2024
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2024 2023
PENJUALAN NETO 3v, 7, 25 7,471,356 7,016,882 NET REVENUES
BEBAN POKOK PENJUALAN 3v, 7, 26 (4,130,606) (3,833,546) COST OF GOODS SOLD
LABA BRUTO 3,340,750 3,183,336 GROSS PROFIT
BEBAN USAHA OPERATING EXPENSES
Beban penjualan 3v, 27 (1,318,417) (1,240,237) Selling expenses
Beban umum dan General and administrative
administrasi 3v, 27 (253,243) (226,090) expenses
Jumlah Beban Usaha (1,571,660) (1,466,327) Total Operating Expenses
LABA USAHA 1,769,090 1,717,009 OPERATING PROFIT
PENGHASILAN (BEBAN)
LAIN-LAIN OTHER INCOME (EXPENSES)
Pendapatan keuangan 28 285,105 286,259 Finance income
Beban keuangan 29 (2,539) (4,077) Finance charges
Bagian atas laba neto Share in net profit of
ventura bersama 13 2,678 898 joint venture
Pendapatan (beban) lain-lain - neto 7, 30 14,260 (7,946) Other income (expenses) - net
LABA SEBELUM BEBAN PROFIT BEFORE
PAJAK PENGHASILAN 2,068,594 1,992,143 INCOME TAX EXPENSE
Beban pajak penghasilan 3w, 19 (404,895) (349,047) Income tax expense
LABA TAHUN BERJALAN 1,663,699 1,643,096 PROFIT FOR THE YEAR
PENGHASILAN (RUGI) OTHER COMPREHENSIVE
KOMPREHENSIF LAIN INCOME (LOSS)
Pos yang tidak akan Items that will not be
direklasifikasi ke laba rugi: reclassified to profit or loss:
Surplus revaluasi aset tetap 12 - 2,912 Revaluation surplus of fixed assets
Kerugian aktuarial dari liabilitas Actuarial loss on
atas imbalan kerja karyawan 3s, 18 (44) (4,330) employee benefit
Pajak tangguhan terkait 3w, 19 10 953 Related deferred tax
Sub-jumlah (34) (465) Sub-total
Pos yang akan direklasifikasi Item that will be reclassified
ke laba rugi: to profit or loss:
Perubahan nilai wajar Changes in fair value
atas investasi pada of investment in
surat utang negara 10 (46,949) 81,868 government bonds
Penghasilan (rugi) komprehensif lain - Other comprehensive income
setelah pajak (46,983) 81,403 (loss) - net of tax
JUMLAH PENGHASILAN TOTAL COMPREHENSIVE
KOMPREHENSIF TAHUN BERJALAN 1,616,716 1,724,499 INCOME FOR THE YEAR
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
4
Page 214
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN LABA RUGI CONSOLIDATED STATEMENT OF
DAN PENGHASILAN KOMPREHENSIF LAIN PROFIT OR LOSS AND
KONSOLIDASIAN (lanjutan) OTHER COMPREHENSIVE INCOME (continued)
Untuk Tahun yang Berakhir Pada Tanggal For the Year Ended
31 Desember 2024 December 31, 2024
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2024 2023
LABA TAHUN BERJALAN
YANG DAPAT PROFIT FOR THE YEAR
DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:
Equity Holders of the
Pemilik Entitas Induk 1,664,341 1,642,166 Parent Company
Kepentingan Non-Pengendali 3d (642) 930 Non-Controlling Interests
JUMLAH 1,663,699 1,643,096 TOTAL
JUMLAH PENGHASILAN
KOMPREHENSIF TAHUN TOTAL COMPREHENSIVE
BERJALAN YANG DAPAT INCOME FOR THE YEAR
DIATRIBUSIKAN KEPADA: ATTRIBUTABLE TO:
Equity Holders of the
Pemilik Entitas Induk 1,617,351 1,723,608 Parent Company
Kepentingan Non-Pengendali 3d (635) 891 Non-Controlling Interests
JUMLAH 1,616,716 1,724,499 TOTAL
Laba per Saham Dasar dan Basic and Diluted Earnings per
Dilusian yang Dapat Share Attributable to
Diatribusikan kepada Equity Holders of
Pemilik Entitas Induk 3z, 23 27.16 26.51 the Parent Company
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
5
Page 215
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN PERUBAHAN EKUITAS KONSOLIDASIAN CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
Untuk Tahun yang Berakhir Pada Tanggal 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)
Ekuitas yang Dapat Diatribusikan kepada Pemilik Entitas Induk/
Equity Atributable to the Equity Holders of the Parent Company
Perubahan
Nilai
Wajar atas Keuntungan
Bagian dari Investasi pada (Kerugian)
Modal Saham Surplus Penghasilan Surat Utang Pengukuran
Ditempatkan Revaluasi Komprehensif Negara/ Kembali Saldo Laba/
dan Disetor Tambahan Aset Lain dari Changes Liabilitas Retained Earnings Kepentingan
Penuh/ Modal Tetap/ Ventura Bersama/ in Fair Imbalan Kerja/ Non-
Issued Disetor/ Revaluation Share of Other Value of Remeasurement Telah Belum Pengendali/ Jumlah
and Fully Additional Surplus Comprehensive Investment in Gain or (Loss) Ditentukan Ditentukan Non- Ekuitas/
Catatan/ Paid Paid-in Saham Treasuri/ of Fixed Income of Goverment on Employee Penggunaannya/ Penggunaannya/ Sub-Jumlah/ Controlling Total
Notes Share Capital Capital Treasury Shares Assets Joint Venture Bonds Benefit Liabilities Appropriated Unappropriated Sub-Total Interests Equity
Saldo 31 Desember 2022 619,536 7,793,218 - 226,494 85 (138,276 ) 13,259 124,000 931,790 9,570,106 4,779 9,574,885 Balance as of December 31, 2022
Dividen 24 - - - - - - - - (1,362,978 ) (1,362,978 ) - (1,362,978 ) Dividends
Penerbitan saham entitas anak Issuance of a subsidiary’s shares to
kepada kepentingan non-pengendali - - - - - - - - - - 1,452 1,452 non-controlling interests
Pembelian saham treasuri 20 - - (16,369 ) - - - - - - (16,369 ) - (16,369 ) Purchase of treasure shares
Laba tahun berjalan - - - - - - - - 1,642,166 1,642,166 930 1,643,096 Profit for the year
Penghasilan komprehensif lain - - - 2,912 - 81,868 (3,338 ) - - 81,442 (39 ) 81,403 Other comprehensive income
Saldo 31 Desember 2023 619,536 7,793,218 (16,369 ) 229,406 85 (56,408 ) 9,921 124,000 1,210,978 9,914,367 7,122 9,921,489 Balance as of December 31, 2023
Dividen 24 - - - - - - - - (1,348,142 ) (1,348,142 ) - (1,348,142 ) Dividends
Pembelian saham treasuri 20 - - (558,183 ) - - - - - - (558,183 ) - (558,183 ) Purchase of treasure shares
Laba tahun berjalan - - - - - - - - 1,664,341 1,664,341 (642 ) 1,663,699 Profit for the year
Rugi komprehensif lain - - - - - (46,949 ) (41 ) - - (46,990 ) 7 (46,983 ) Other comprehensive loss
Saldo 31 Desember 2024 619,536 7,793,218 (574,552 ) 229,406 85 (103,357 ) 9,880 124,000 1,527,177 9,625,393 6,487 9,631,880 Balance as of December 31, 2024
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang tidak terpisahkan dari The accompanying Notes to the Consolidated Financial Statements form an integral part of
laporan keuangan konsolidasian these consolidated financial statements
6
Page 216
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS CONSOLIDATED STATEMENT OF
KONSOLIDASIAN CASH FLOWS
Untuk Tahun yang Berakhir Pada Tanggal For the Year Ended
31 Desember 2024 December 31, 2024
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2024 2023*)
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS OPERASI OPERATING ACTIVITIES
Penerimaan kas dari pelanggan 7,229,124 6,850,984 Cash receipts from customers
Pembayaran ke pemasok (4,625,552) (4,341,998) Payments to suppliers
Pembayaran ke karyawan (779,291) (707,405) Payments to employees
Kas yang diperoleh dari operasi 1,824,281 1,801,581 Cash provided by operations
Penerimaan lain-lain 31,003 12,664 Other receipts
Penerimaan penghasilan bunga 291,459 308,589 Receipts of finance income
Pembayaran pajak penghasilan Payments of corporate income
badan 19 (380,615) (482,000) taxes
Kas Bersih yang Diperoleh dari Net Cash Provided by
Aktivitas Operasi 1,766,128 1,640,834 Operating Activities
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS INVESTASI INVESTING ACTIVITIES
Penerimaan dari pelepasan Proceeds from disposal of
aset tetap 12 11,156 14,094 fixed assets
Penerimaan dari penjualan investasi Proceeds from sale of investment
pada surat utang negara - 1,128,447 in government bonds
Penerimaan investasi jangka pendek 1,740,000 - Proceeds of short-term invesments
Penambahan investasi jangka pendek - (1,740,000) Additions of short-term investments
Pembelian aset tetap (438,716) (246,181) Purchase of fixed assets
Perolehan aset hak-guna (39,600) (69,588 ) Additions of right-of-use assets
Penambahan aset takberwujud (10,366) (8,667) Additions of intangible assets
Penambahan investasi pada Additions of investment in
reksa dana - (20,000) mutual funds
Penambahan investasi pada Additions of investment in
surat utang negara - (196,300) government bonds
Kas Bersih yang Diperoleh dari Net Cash Provided by
(Digunakan untuk) (Used in)
Aktivitas Investasi 1,262,474 (1,138,195) Investing Activities
*) Setelah direklasifikasi (Catatan 36) *) As reclassified (Note 36)
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
7
Page 217
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA AND ITS SUBSIDIARIES
LAPORAN ARUS KAS CONSOLIDATED STATEMENT OF
KONSOLIDASIAN (lanjutan) CASH FLOWS (continued)
Untuk Tahun yang Berakhir Pada Tanggal For the Year Ended
31 Desember 2024 December 31, 2024
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
Catatan/
Notes 2024 2023*)
ARUS KAS DARI CASH FLOWS FROM
AKTIVITAS PENDANAAN FINANCING ACTIVITIES
Perolehan saham treasuri 20 (558,183) (16,369) Acquisition of treasury shares
Pembayaran liabilitas sewa 16 (24,758) (58,836) Payments of lease liabilities
Pembayaran beban bunga 29 (2,539) (4,077) Payment of interest expense
Penerbitan saham entitas anak Issuance of subsidiary’s shares
kepada kepentingan non-pengendali - 1,452 to non-controlling interests
Pembayaran dividen tunai 24 (1,348,142) (1,362,978) Payment of cash dividends
Kas bersih yang Digunakan untuk Net Cash Used in
Aktivitas Pendanaan (1,933,622) (1,440,808) Financing Activities
NET INCREASE (DECREASE)
KENAIKAN (PENURUNAN) BERSIH IN CASH AND
KAS DAN SETARA KAS 1,094,980 (938,169) CASH EQUIVALENTS
KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS
DAN CERUKAN AND BANK OVERDRAFT AT
AWAL TAHUN 1,225,322 2,163,491 BEGINNING OF YEAR
KAS DAN SETARA KAS CASH AND CASH EQUIVALENTS
DAN CERUKAN AND BANK OVERDRAFT AT
AKHIR TAHUN 5, 17 2,320,302 1,225,322 END OF YEAR
Kas, setara kas dan Cash, cash equivalent
cerukan terdiri and bank overdrafts
dari: comprise of the following:
Kas dan setara kas 5 2,329,491 1,230,544 Cash and cash equivalents
Cerukan 17 (9,189) (5,222) Bank overdrafts
2,320,302 1,225,322
* Setelah direklasifikasi (Catatan 36)
)
*) As reclassified (Note 36)
Catatan atas Laporan Keuangan Konsolidasian terlampir merupakan bagian yang The accompanying Notes to the Consolidated Financial Statements
tidak terpisahkan dari laporan keuangan konsolidasian form an integral part of these consolidated financial statements
8
Page 218
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. UMUM 1. GENERAL
a. Pendirian dan informasi umum Perusahaan a. The Company’s establishment and general
information
PT Avia Avian Tbk (“Perusahaan”) didirikan PT Avia Avian Tbk (the “Company”) is established
berdasarkan Akta Pendirian No. 6 tanggal 1 Maret based on Deed of Establishment No. 6 dated March 1,
1983, yang dibuat di hadapan Indrawati Setiabudhi, 1983, made by Indrawati Setiabudhi, S.H., notary in
S.H., notaris di Malang, yang diubah dengan akta Malang, that was amended based on Deed No. 63
No. 63 tanggal 23 Mei 1983 yang dibuat di hadapan dated May 23, 1983 by the same notary. The
notaris yang sama. Akta Perubahan Perusahaan Company’s Deeds of Amendments have been
tersebut telah disahkan berdasarkan Keputusan approved based on the Decision of the Department of
Departemen Kehakiman Republik Indonesia Justice of the Republic of Indonesia dated July 5, 1983
tertanggal 5 Juli 1983 dengan Surat Keputusan with Decision Letter No. C2-4948.HT.01.01.Th83
No. C2-4948.HT.01.01.Th83 dan telah diumumkan and was published in State Gazette
dalam Berita Negara Republik Indonesia No. C2-4948.HT.01.01.Th83 of the Republic of
No. C2- 4948.HT.01.01.Th83. Indonesia.
Anggaran Dasar Perusahaan telah mengalami The Company’s Articles of Association have been
beberapa kali perubahan. Perubahan terakhir dibuat amended several times. The latest amendment was
melalui Akta Notaris Liestiani Wang, S.H., M.Kn., made through Notarial Deed No. 3 of Liestiani Wang,
No. 3 tanggal 4 Agustus 2021, sehubungan dengan S.H., M.Kn., dated August 4, 2021, regarding the
perubahan status perusahaan dari perseroan change of the Company’s status from a limited
tertutup menjadi perseroan terbuka, perubahan company to a public company, the change in the
nama Perusahaan dari PT Avia Avian menjadi Company’s name from PT Avia Avian to PT Avia Avian
PT Avia Avian Tbk, peningkatan modal dasar Tbk, an increase in authorised share capital, changes
Perusahaan, perubahan nilai nominal saham, in the share par value, approval for public offering,
persetujuan pelaksanaan penawaran umum, approval for Employee Stock Allocation (“ESA”),
persetujuan pelaksanaan program Alokasi Saham rearrangement of the Company’s purposes and
Karyawan (“ESA”), penyusunan kembali maksud objectives and activities, reaffirmation of the
dan tujuan serta kegiatan usaha Perusahaan, Company’s Board of Commissioners and Directors,
penegasan kembali Dewan Komisaris dan Direksi approval of the change in Articles of Association in
Perusahaan, persetujuan perubahan Anggaran accordance with Regulation No. IX.J.1, Financial
Dasar sesuai dengan Peraturan No. IX.J.1, Services Authority’s Regulation (“POJK”) No. 15/2020
Peraturan Otoritas Jasa Keuangan (“POJK”) and POJK No. 33/2014 and appointment of the
No. 15/2020 dan POJK No. 33/2014, dan penetapan Company’s controlling interests in accordance with
pengendali Perusahaan sesuai POJK No. 3/2021. POJK No. 3/2021. This amendment has been
Perubahan anggaran dasar ini telah disetujui oleh approved by the Minister of Law and Human Rights of
Menteri Hukum dan Hak Asasi Manusia Republik the Republic of Indonesia in its Decree
Indonesia melalui Surat Keputusan No. AHU-0043612.AH.01.02.TAHUN 2021 dated
No. AHU-0043612.AH.01.02.TAHUN 2021 tanggal August 12, 2021.
12 Agustus 2021.
Berdasarkan Anggaran Dasar Perusahaan, ruang Based on the Company’s Articles of Association, the
lingkup kegiatan Perusahaan antara lain bergerak scope of activities of the Company comprises the
dalam bidang industri pengolahan dan perdagangan processing industry and wholesale trading. The
besar. Perusahaan berkantor pusat di Sidoarjo dan Company’s head office is located in Sidoarjo, with
memiliki pabrik di Sidoarjo dan Serang. factories in Sidoarjo and Serang.
Perusahaan memulai operasi komersialnya pada The Company started its commercial operations in
tahun 1983. 1983.
9
Page 219
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. UMUM (lanjutan) 1. GENERAL (continued)
b. Penawaran umum saham Perusahaan b. Public offering of the Company’s shares
Berdasarkan Akta Notaris No. 3 tanggal Based on Notarial Deed No. 3 dated August 4, 2021,
4 Agustus 2021 oleh Notaris Liestiani Wang, S.H., by Notary Liestiani Wang, S.H., M.Kn., notary in South
M.Kn., notaris di Jakarta Selatan, perubahan ini telah Jakarta, this amendment was approved by the Minister
disahkan oleh Menteri Hukum dan Hak Asasi of Law and Human Rights under Decision Letter
Manusia dengan Surat Keputusan No. AHU-0043612.AH.01.02.TAHUN 2021 dated
No. AHU-0043612.AH.01.02.TAHUN 2021 tanggal August 12, 2021, the shareholders of the Company
12 Agustus 2021, para pemegang saham decided and approved matters, including the changes
Perusahaan memutuskan dan menyetujui hal-hal of the Company’s status from a limited company to a
diantaranya perubahan status Perusahaan dari public company and the Company’s name from
perseroan tertutup menjadi perseroan terbuka dan PT Avia Avian to PT Avia Avian Tbk.
perubahan nama Perusahaan dari PT Avia Avian
menjadi PT Avia Avian Tbk.
Dalam rangka penawaran umum perdana saham In relation to the initial public offering of the Company’s
Perusahaan, Perusahaan mendapatkan Surat shares, the Company obtained the Notification Letter of
Pemberitahuan Efektif Pernyataan Pendaftaran Statement of Effective Registration
No. S-223/D.04/2021 tertanggal 30 November 2021 No. S-223/D.04/2021 dated November 30, 2021 from
dari Otoritas Jasa Keuangan (“OJK”) untuk the Financial Services Authority (“OJK”) to conduct an
melakukan penawaran umum perdana sebanyak initial public offering of 6,200,000,000 shares to the
6.200.000.000 lembar saham dengan nilai nominal public with a par value of Rp 10 (full amount) per share
Rp 10 (angka penuh) per lembar saham dan harga at an offering price of Rp 930 (full amount) per share.
penawaran sebesar Rp 930 (angka penuh) per All of the shares offered to the public in the initial public
lembar saham. Seluruh saham yang ditawarkan ke offering were new shares issued by the Company.
masyarakat pada saat penawaran umum perdana Effective on December 8, 2021, the Company’s shares
berasal dari saham baru yang diterbitkan have been listed on the Indonesia Stock Exchange
Perusahaan. Efektif tanggal 8 Desember 2021, (“IDX”).
saham Perusahaan telah dicatatkan di Bursa Efek
Indonesia (“BEI”).
Berdasarkan Rapat Umum Pemegang Saham Based on the Annual General Shareholders Meeting
Tahunan tanggal 7 Desember 2023, yang berita dated December 7, 2023, which was notarised by
acaranya dituangkan dalam Akta Notaris No. 5 Notarial Deed No. 5 dated December 7, 2023, of
tanggal 7 Desember 2023 dari Notaris Dr. Susanti, Notary Dr. Susanti, S.H., M.Kn., the shareholders
S.H., M.Kn., para pemegang saham menyetujui untuk agreed to repurchase 1,425,000,000 ordinary shares of
melakukan pembelian kembali sebanyak-banyaknya the Company through a transaction at the IDX (Notes
1.425.000.000 lembar saham biasa Perusahaan 20 and 37).
melalui pembelian pada BEI (Catatan 20 dan 37).
c. Entitas induk dan entitas induk utama c. Parent and ultimate parent entity
PT Wahana Lancar Rejeki dan PT Tancorp Surya PT Wahana Lancar Rejeki and PT Tancorp Surya
Sentosa merupakan entitas pengendali Perusahaan. Sentosa are the controlling interests of the Company.
Pemilik manfaat dari Perusahaan adalah Wijono The beneficial owners of the Company are Wijono
Tanoko, Hermanto Tanoko dan Ruslan Tanoko. Tanoko, Hermanto Tanoko and Ruslan Tanoko.
d. Entitas anak yang dikonsolidasi d. Consolidated subsidiaries
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the Company has
Perusahaan memiliki entitas anak dengan subsidiaries with effective percentage of ownership as
kepemilikan efektif sebagai berikut: follows:
Dimulainya Persentase Jumlah Aset
Kegiatan Kepemilikan/ Sebelum Eliminasi/
Komersial/ Percentage Total Assets
Commencement of Ownership Before Elimination
Entitas Anak/ Domisili/ Bidang Usaha/ of Commercial
Subsidiaries Domicile Nature of Business Operations 2024 2023 2024 2023
Kepemilikan Langsung/
Direct Ownership
PT Tirta Kencana Tatawarna
(“PT TKTW”)a) Surabaya Perdagangan/Trading 2000 99,99% 99,99% 4,176,481 3,830,103
10
Page 220
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
1. UMUM (lanjutan) 1. GENERAL (continued)
d. Entitas anak yang dikonsolidasi (lanjutan) d. Consolidated subsidiaries (continued)
Dimulainya Persentase Jumlah Aset
Kegiatan Kepemilikan/ Sebelum Eliminasi/
Komersial/ Percentage Total Assets
Commencement of Ownership Before Elimination
Entitas Anak/ Domisili/ Bidang Usaha/ of Commercial
Subsidiaries Domicile Nature of Business Operations 2024 2023 2024 2023
Kepemilikan Langsung/
Direct Ownership
PT Solusi Rumah Perdagangan dan jasa/
Praktis (“PT SRP”) Surabaya Trading and service 2018 99.99% 99.99% 1,066 2,076
PT Multipro Paint Indonesia Perdagangan dan industri/
(“PT MPI”) Jakarta Trading and industry 2008 67.00% 67.00% 33,043 31,834
Kepemilikan Tidak Langsung/
Indirect Ownership
Melalui PT TKTW/Through
PT TKTW
PT Tirtakencana Batamindo
(“PT TKBI”) Batam Perdagangan/Trading 2010 99,98% 99,98% 34,708 34,982
a)
dan entitas anak/and subsidiaries
e. Dewan Komisaris dan Direksi, Komite Audit dan e. Board of Commissioners and Directors, Audit
karyawan Committee and employees
Susunan Dewan Komisaris dan Direksi pada tanggal The compositions of the Company’s Boards of
31 Desember 2024 dan 2023 adalah sebagai berikut: Commissioners and Directors as of December 31,
2024 and 2023 are as follows:
2024 2023
Dewan Komisaris Board of Commissioners
Komisaris Utama Hermanto Tanoko Hermanto Tanoko President Commissioner
Komisaris Mohammad Noor Mohammad Noor Commissioners
Rachman Soejoeti Rachman Soejoeti
Direksi Board of Directors
Direktur Utama Wijono Tanoko Wijono Tanoko President Director
Wakil Direktur Utama Ruslan Tanoko Ruslan Tanoko Vice President Director
Direktur Robert Christian Tanoko Robert Christian Tanoko Director
Direktur Kurnia Hadi Sinanto Kurnia Hadi Sinanto Director
Direktur Angelica Tanisia Jozar Angelica Tanisia Jozar Director
Susunan komite audit pada tanggal 31 Desember The members of Company’s Audit Committee as of
2024 dan 2023 adalah sebagai berikut: December 31, 2024 and 2023 are as follows:
2024 2023
Komite Audit Audit Committee
Ketua Mohammad Noor Mohammad Noor Chief
Rachman Soejoeti Rachman Soejoeti
Anggota Sammy TS Lalamentik Sammy TS Lalamentik Member
Anggota Wardiman Wijaya Fitradewata Member
Pada tanggal 31 Desember 2024 dan 2023, Grup As of December 31, 2024 and 2023, the Group had a
memiliki masing-masing 1.417 dan 1.422 orang total of 1,417 and 1,422 permanent employees,
karyawan tetap (tidak diaudit). respectively (unaudited).
f. Tanggal penyelesaian laporan keuangan f. Completion date of the consolidated financial
konsolidasian statements
Laporan keuangan konsolidasian Perusahaan dan The consolidated financial statements of the Company
entitas anak (bersama-sama “Grup”) diotorisasi oleh and subsidiaries (together the “Group”) were
Direksi Perusahaan pada tanggal 24 Februari 2025. authorised by the Directors of the Company on
February 24, 2025.
10
Page 221
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. PENERAPAN STANDAR BARU DAN REVISI 2. ADOPTION OF NEW AND REVISED STANDARDS
a. Perubahan nomenklatur Standar Akuntansi a. Change in the Indonesian Financial Accounting
Keuangan Indonesia Standards nomenclature
Sejalan dengan pengesahan Kerangka Standar In line with the ratification of the Indonesian Financial
Pelaporan Keuangan Indonesia, Dewan Standar Reporting Standards Framework, the Financial
Akuntansi Keuangan Ikatan Akuntan Indonesia Accounting Standards Board of the Indonesian Institute
(DSAK-IAI) menyetujui perubahan nomenklatur of Accountants (“DSAK-IAI”) approved the change in
Standar Akuntansi Keuangan Indonesia yang the Indonesian Financial Accounting Standards
mengatur penomoran Pernyataan Standar Akuntansi nomenclature which regulates the numbering of
Keuangan (PSAK) dan Interpretasi atas Standar Statements of Financial Accounting Standards
Akuntansi Keuangan (ISAK). Hal ini bertujuan untuk (“PSAK”) and Interpretations of Financial Accounting
membedakan antara PSAK dan ISAK yang diadopsi Standards (“ISAK”). This aims to differentiate between
dari International Financial Reporting Standards PSAK and ISAK which are adopted from International
(IFRS) dan yang tidak. Perubahan nomenklatur Financial Reporting Standards (IFRS) and to those
Standar Akuntansi Keuangan Indonesia yang berlaku which are not. The change in the Indonesian Financial
efektif pada 1 Januari 2024, tidak akan Accounting Standards nomenclature, which is effective
mempengaruhi isi masing-masing PSAK dan ISAK. on January 1, 2024, does not affect the contents of
each PSAK and ISAK.
b. Amendemen/penyesuaian standar yang berlaku b. Amendments/improvements to standards effective
efektif pada tahun berjalan in the current year
Dalam tahun berjalan, Grup telah menerapkan In the current year, the Group has applied
sejumlah amendemen/penyesuaian PSAK yang amendments/improvements to PSAK that are relevant
relevan dengan operasinya dan efektif untuk periode to its operations and effective for accounting period
akuntansi yang dimulai pada atau setelah 1 Januari beginning on or after January 1, 2024. The adoption of
2024. Penerapan atas PSAK revisi tidak these revised PSAKs does not result in changes to the
mengakibatkan perubahan atas kebijakan akuntansi Group’s accounting policies and has no material effect
Grup dan tidak memiliki dampak material terhadap on the amounts reported for the current or prior years.
jumlah yang dilaporkan pada tahun berjalan atau
tahun-tahun sebelumnya.
• PSAK 201 (Amendemen), “Penyajian Laporan • PSAK 201 (Amendment), “Presentation of
Keuangan”: Klasifikasi Liabilitas sebagai Financial Statements”: Classification of Liabilities
Jangka Pendek atau Jangka Panjang as Current or Non-Current
Amandemen ini hanya mempengaruhi The amendments affect only the presentation of
penyajian liabilitas sebagai jangka pendek atau liabilities as current or non-current in the statement
jangka panjang dalam laporan posisi keuangan of financial position and not the amount or timing of
dan bukan jumlah atau waktu pengakuan aset, recognition of any asset, liability, income or
liabilitas, penghasilan atau beban, atau expenses, or the information disclosed about those
informasi yang diungkapkan mengenai pos-pos items.
tersebut.
Amandemen tersebut mengklarifikasi bahwa The amendments clarify that the classification of
klasifikasi liabilitas sebagai jangka pendek atau liabilities as current or non-current is based on
jangka panjang didasarkan pada hak yang ada rights that are in existence at the end of the
pada akhir periode pelaporan, menetapkan reporting period, specify that classification is
bahwa klasifikasi tersebut tidak dipengaruhi unaffected by expectations about whether an entity
oleh ekspektasi apakah entitas akan will exercise its right to defer settlement of a
menggunakan haknya untuk menunda liability, explain that rights are in existence if
penyelesaian suatu liabilitas, menjelaskan covenants are complied with at the end of the
bahwa hak tersebut ada jika kovenan dipatuhi reporting period, and introduce a definition of
pada akhir periode pelaporan, dan ‘settlement’ to make clear that settlement refers to
memperkenalkan definisi 'penyelesaian' untuk the transfer to the counterparty of cash, equity
memperjelas bahwa penyelesaian mengacu instruments, other assets or services.
pada pengalihan ke pihak lain atas kas,
instrumen ekuitas, aset dan jasa lainnya.
11
Page 222
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. PENERAPAN STANDAR BARU DAN REVISI (lanjutan) 2. ADOPTION OF NEW AND REVISED STANDARDS
(continued)
b. Amendemen/penyesuaian standar yang berlaku b. Amendments/improvements to standards effective
efektif pada tahun berjalan (lanjutan) in the current year (continued)
• PSAK 201 (Amendemen), “Penyajian Laporan • PSAK 201 (Amendment), “Presentation of
Keuangan”: Liabilitas Jangka Panjang dengan Financial Statements”: Non-Current Liabilities with
Kovenan Covenants
Amandemen tersebut menetapkan bahwa The amendments specify that only covenants that
hanya perjanjian yang harus dipatuhi entitas an entity is required to comply with on or before
pada atau sebelum akhir periode pelaporan the end of the reporting period affect the entity’s
yang memengaruhi hak entitas untuk menunda right to defer settlement of a liability for at least
penyelesaian liabilitas setidaknya selama dua twelve months after the reporting date (and
belas bulan setelah tanggal pelaporan (dan therefore must be considered in assessing the
karenanya harus dipertimbangkan dalam classification of the liability as current or non-
menilai klasifikasi liabilitas sebagai lancar atau current). Such covenants affect whether the right
tidak lancar). Perjanjian tersebut memengaruhi exists at the end of the reporting period, even if
apakah hak tersebut ada pada akhir periode compliance with the covenant is assessed only
pelaporan, bahkan jika kepatuhan terhadap after the reporting date (e.g. a covenant based on
perjanjian dinilai hanya setelah tanggal the entity’s financial position at the reporting date
pelaporan (misalnya perjanjian berdasarkan that is assessed for compliance only after the
posisi keuangan entitas pada tanggal pelaporan reporting date).
yang dinilai kepatuhannya hanya setelah
tanggal pelaporan).
DSAK-IAI juga menetapkan bahwa hak untuk DSAK-IAI also specifies that the right to defer
menunda penyelesaian liabilitas setidaknya settlement of a liability for at least twelve months
selama dua belas bulan setelah tanggal after the reporting date is not affected if an entity
pelaporan tidak terpengaruh jika entitas hanya only has to comply with a covenant after the
harus mematuhi perjanjian setelah periode reporting period. However, if the entity’s right to
pelaporan. Namun, jika hak entitas untuk defer settlement of a liability is subject to the entity
menunda penyelesaian liabilitas bergantung complying with covenants within twelve months
pada kepatuhan entitas terhadap perjanjian after the reporting period, an entity discloses
dalam waktu dua belas bulan setelah periode information that enables users of financial
pelaporan, entitas mengungkapkan informasi statements to understand the risk of the liabilities
yang memungkinkan pengguna laporan becoming repayable within twelve months after the
keuangan memahami risiko liabilitas yang reporting period. This would include information
harus dibayar kembali dalam waktu dua belas about the covenants (including the nature of the
bulan setelah periode pelaporan. Ini akan covenants and when the entity is required to
mencakup informasi tentang perjanjian comply with them), the carrying amount of related
(termasuk sifat perjanjian dan kapan entitas liabilities and facts and circumstances, if any, that
diharuskan untuk mematuhinya), jumlah indicate that the entity may have difficulties
tercatat liabilitas terkait dan fakta serta complying with the covenants.
keadaan, jika ada, yang menunjukkan bahwa
entitas mungkin mengalami kesulitan dalam
mematuhi perjanjian.
• PSAK 207 (Amendemen), “Laporan Arus Kas” • PSAK 207 (Amendment), “Statements of Cash
dan PSAK 107 (Amendemen), “Instrumen Flows” and PSAK 107 (Amendment), “Financial
Keuangan: Pengungkapan”: Pengaturan Instruments: Disclosures”: Supplier Finance
Pembiayaan Pemasok Arrangements
12
Page 223
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
[
2. PENERAPAN STANDAR BARU DAN REVISI (lanjutan) 2. ADOPTION OF NEW AND REVISED STANDARDS
(continued)
b. Amendemen/penyesuaian standar yang berlaku b. Amendments/improvements to standards effective
efektif pada tahun berjalan (lanjutan) in the current year (continued)
Amandemen tersebut menambahkan tujuan The amendments add a disclosure objective to
pengungkapan pada PSAK 207 yang PSAK 207 stating that an entity is required to
menyatakan bahwa suatu entitas diharuskan disclose information about its supplier finance
untuk mengungkapkan informasi tentang arrangements that enables users of financial
pengaturan keuangan pemasoknya yang statements to assess the effects of those
memungkinkan pengguna laporan keuangan arrangements on the entity’s liabilities and cash
untuk menilai dampak pengaturan tersebut flows. In addition, PSAK 107 is amended to add
terhadap liabilitas dan arus kas entitas. Selain supplier finance arrangements as an example
itu, PSAK 107 diamandemen untuk within the requirements to disclose information
menambahkan pengaturan keuangan pemasok about an entity’s exposure to concentration of
sebagai contoh dalam persyaratan untuk liquidity risk.
mengungkapkan informasi tentang paparan
entitas terhadap konsentrasi risiko likuiditas.
Amandemen tersebut berisi ketentuan transisi The amendments contain specific transition
khusus untuk periode pelaporan tahunan provisions for the first annual reporting period in
pertama di mana Grup menerapkan which the Group applies the amendments. Under
amandemen tersebut. Berdasarkan ketentuan the transitional provisions an entity is not required
transisi, suatu entitas tidak diharuskan untuk to disclose:
mengungkapkan:
• informasi komparatif untuk setiap periode • comparative information for any reporting
pelaporan yang disajikan sebelum awal periods presented before the beginning of the
periode pelaporan tahunan di mana entitas annual reporting period in which the entity first
pertama kali menerapkan amandemen applies those amendments.
tersebut.
• informasi yang diwajibkan oleh PSAK • the information otherwise required by PSAK
207:44H(b)(ii)-(iii) pada awal periode 207:44H(b)(ii)-(iii) as at the beginning of the
pelaporan tahunan di mana entitas pertama annual reporting period in which the entity first
kali menerapkan amandemen tersebut. applies those amendments.
c. Standar dan amendemen/penyesuaian standar c. Standards and amendments/improvements to
telah diterbitkan tapi belum diterapkan standards issued not yet adopted
Pada tanggal persetujuan laporan keuangan At the date of authorization of these consolidated
konsolidasian, standar dan amendemen-amendemen financial statements, the following standards and
atas PSAK yang relevan bagi Grup, yang telah amendments to PSAK relevant to the Group were
diterbitkan namun belum berlaku efektif, dengan issued but not yet effective, with early application
penerapan dini diijinkan, adalah sebagai berikut: permitted:
Efektif untuk periode yang dimulai pada atau setelah Effective for periods beginning on or after January 1,
tanggal 1 Januari 2025 2025
• PSAK 221 (Amendemen), “Pengaruh • PSAK 221 (Amendment), “The Effects of Changes
Perubahan Kurs Valuta Asing”: Kekurangan in Foreign Exchange Rates”: Lack of
Ketertukaran” Exchangeability
Efektif untuk periode yang dimulai pada atau setelah Effective for periods beginning on or after January 1,
tanggal 1 Januari 2026 2026
• Amandemen PSAK 109, “Instrumen Keuangan” • Amendments to PSAK 109, “Financial Instruments”
dan PSAK 107, “Instrumen Keuangan: and PSAK 107,” Financial Instruments:
Pengungkapan”: Klasifikasi dan Pengukuran Disclosure”: Classification and Measurement of
Instrumen Keuangan Financial Instrument
13
Page 224
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
2. PENERAPAN STANDAR BARU DAN REVISI (lanjutan) 2. ADOPTION OF NEW AND REVISED STANDARDS
(continued)
c. Standar dan amendemen/penyesuaian standar c. Standards and amendments/improvements to
telah diterbitkan tapi belum diterapkan (lanjutan) standards issued not yet adopted (continued)
Efektif untuk periode yang dimulai pada atau setelah Effective for periods beginning on or after January 1,
tanggal 1 Januari 2026 (lanjutan) 2026 (continued)
• Penyesuaian Tahunan 2024 terhadap PSAK • 2024 Annual Improvements to PSAK 107,
107, “Instrumen Keuangan: Pengungkapan”, “Financial Instruments: Disclosures”, PSAK 109,
PSAK 109, “Instrumen Keuangan”, PSAK 110, “Financial Instruments”, PSAK 110, “Consolidated
“Laporan Keuangan Konsolidasian” dan PSAK Financial Statements” and PSAK 207, “Statement
207, “Laporan Arus Kas” of Cash Flows”
Efektif untuk periode yang dimulai pada atau setelah Effective for periods beginning on or after January 1,
tanggal 1 Januari 2027 2027
• PSAK 413, “Penurunan Nilai” • PSAK 413, “Impairment”
Sampai dengan tanggal penerbitan laporan keuangan As at the issuance date of the consolidated financial
konsolidasian, dampak dari penerapan standar dan statements, the effects of adopting these standard and
amendemen tersebut terhadap laporan keuangan amendments on the consolidated financial statements
konsolidasian tidak dapat diketahui atau diestimasi are not known nor reasonably estimable by
oleh manajemen. management.
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL
a. Dasar penyusunan laporan keuangan a. Basis of preparation of the consolidated financial
konsolidasian statements
Laporan keuangan konsolidasian Grup telah disusun The consolidated financial statements of the Group
sesuai dengan Standar Akuntansi Keuangan di have been prepared in accordance with Indonesian
Indonesia (“SAK”), yang mencakup Pernyataan Financial Accounting Standards (“SAK”), which
Standar Akuntansi Keuangan (PSAK) dan Interpretasi comprise the Statement of Financial Accounting
Standar Akuntansi Keuangan (ISAK) yang diterbitkan Standards (“PSAK”) and Interpretations of Statement of
oleh Dewan Standar Akuntansi Keuangan Ikatan Financial Accounting Standard (“ISAK”) issued by the
Akuntan Indonesia (DSAK-IAI) dan peraturan Financial Accounting Standards Board of the
regulator pasar modal untuk entitas yang berada di Indonesian Institute of Accountants (“DSAK-IAI”) and
bawah pengawasannya. regulations of capital market regulator for entities under
its control.
Kebijakan akuntansi yang diterapkan dalam The accounting policies adopted in the preparation of
penyusunan laporan keuangan konsolidasian adalah the consolidated financial statements are consistent
selaras dengan kebijakan akuntansi yang diterapkan with those adopted in the preparation of the
dalam penyusunan laporan keuangan konsolidasian consolidated financial statements for the year ended
tanggal 31 Desember 2023, kecuali bagi penerapan December 31, 2023, except for the adoption of several
beberapa SAK yang telah direvisi. Seperti amended SAKs. As disclosed in Note 2, several
diungkapkan dalam Catatan 2, beberapa standar amended and published accounting standards were
akuntansi yang telah direvisi dan diterbitkan, adopted effective January 1, 2024.
diterapkan efektif tanggal 1 Januari 2024.
Grup telah menyusun laporan keuangan The Group has prepared the consolidated financial
konsolidasian dengan dasar bahwa Grup akan terus statements on the basis that it will continue to operate
mempertahankan kelangsungan usaha. as a going concern.
14
Page 225
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
a. Dasar penyusunan laporan keuangan a. Basis of preparation of the consolidated financial
konsolidasian (lanjutan) statements (continued)
Laporan keuangan konsolidasian, kecuali untuk The consolidated financial statements, except for the
laporan arus kas konsolidasian, disusun berdasarkan consolidated statement of cash flows, have been
dasar akrual dengan menggunakan konsep harga prepared on the accrual basis using the historical cost
perolehan, kecuali beberapa akun tertentu disusun basis of accounting, except for certain accounts which
berdasarkan pengukuran lain sebagaimana diuraikan are measured on the bases described in the related
dalam kebijakan akuntansi masing-masing akun accounting policies for those accounts.
tersebut.
Laporan arus kas konsolidasian disusun dengan The consolidated statements of cash flows have been
menggunakan metode langsung dengan prepared using direct method which classify cash flows
mengelompokkan arus kas dalam aktivitas-aktivitas into operating, investing and financing activities.
operasi, investasi dan pendanaan.
Mata uang pelaporan yang digunakan dalam laporan The reporting currency used in the consolidated
keuangan konsolidasian adalah Rupiah, yang financial statements is Rupiah, which is the Group’s
merupakan mata uang fungsional Grup. functional currency.
Seluruh angka dalam laporan keuangan Figures in the consolidated financial statements are
konsolidasian ini, dibulatkan dan disajikan dalam rounded to and stated in millions of Rupiah (“Rp”),
jutaan Rupiah (“Rp”), kecuali dinyatakan lain. unless otherwise specified.
b. Klasifikasi lancar/jangka pendek dan tidak b. Current and non-current classification
lancar/jangka panjang
Grup menyajikan aset dan liabilitas dalam laporan The Group presents assets and liabilities in the
posisi keuangan konsolidasian berdasarkan consolidated statement of financial position based on
klasifikasi lancar/tidak lancar atau jangka current/non-current classification.
pendek/jangka panjang.
Suatu aset disajikan lancar bila: An asset is current when it is:
i. akan direalisasi, dijual atau digunakan dalam i. expected to be realized or intended to be sold or
siklus operasi normal, consumed in the normal operating cycle,
ii. untuk diperdagangkan, ii. held primarily for the purpose of trading,
iii. akan direalisasi dalam 12 bulan setelah tanggal iii. expected to be realized within 12 months after the
pelaporan, atau kas atau setara kas kecuali yang reporting period, or cash or cash equivalent unless
dibatasi penggunaannya atau akan digunakan restricted from being exchanged or used to settle a
untuk melunasi suatu liabilitas dalam paling liability for at least 12 months after the reporting
lambat 12 bulan setelah periode pelaporan. period.
Seluruh aset lain diklasifikasikan sebagai tidak lancar. All other assets are classified as non-current.
Suatu liabilitas disajikan sebagai jangka pendek bila: A liability is current when it is:
i. akan dilunasi dalam siklus operasi normal, i. expected to be settled in the normal operating
ii. untuk diperdagangkan, cycle,
iii. akan dilunasi dalam 12 bulan setelah tanggal ii. held primarily for the purpose of trading,
pelaporan, atau iii. due to be settled within 12 months after the
iv. tidak ada hak tanpa syarat untuk menangguhkan reporting period, or
pelunasannya selama paling tidak 12 bulan iv. there is no unconditional right to defer the
setelah periode pelaporan. settlement of the liability for at least 12 months
after the reporting period.
Seluruh liabilitas lain diklasifikasikan sebagai jangka All other liabilities are classified as non-current.
panjang.
Aset dan liabilitas pajak tangguhan diklasifikasikan Deferred tax assets and liabilities are classified as non-
sebagai aset tidak lancar dan liabilitas jangka current assets and liabilities.
panjang.
15
Page 226
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
c. Prinsip-prinsip konsolidasi c. Principles of consolidation
Laporan keuangan konsolidasian meliputi laporan The consolidated financial statements incorporate the
keuangan Perusahaan dan entitas yang dikendalikan financial statements of the Company and the entity in
secara langsung ataupun tidak langsung oleh which the Company has the ability to directly or
Perusahaan. Kendali diperoleh bila Grup terekspos indirectly exercise control. Control is achieved when
atau memiliki hak atas timbal balik hasil variabel dari the Group are exposed, or have rights, to variable
keterlibatannya dengan investee dan memiliki returns from its involvement with the investee and have
kemampuan untuk mempengaruhi timbal balik the ability to affect those returns through its power over
tersebut melalui kekuasaannya atas investee. the investee. Thus, the Group control an investee if
Dengan demikian, investor mengendalikan investee and only if the Group have all of the following:
jika dan hanya jika investor memiliki seluruh hal
berikut ini:
i. Kekuasaan atas investee, yaitu hak yang ada i. Power over the investee, that is existing rights that
saat ini yang memberi investor kemampuan kini give the Group current ability to direct the relevant
untuk mengarahkan aktivitas relevan dari activities of the investee,
investee,
ii. Eksposur atau hak atas timbal balik hasil variabel ii. Exposure, or rights, to variable returns from its
dari keterlibatannya dengan investee, dan involvement with the investee, and
iii. Kemampuan untuk menggunakan kekuasaannya iii. The ability to use its power over the investee to
atas investee untuk mempengaruhi jumlah imbal affect its returns.
hasil.
Bila Grup tidak memiliki hak suara atau hak serupa When the Group have less than a majority of the voting
secara mayoritas atas suatu investee, Grup or similiar rights of an investee, the Group consider all
mempertimbangkan semua fakta dan keadaan yang relevant facts and circumstances in assessing whether
relevan dalam mengevaluasi apakah mereka memiliki it has power over an investee, including:
kekuasaan atas investee, termasuk:
i. Pengaturan kontraktual dengan pemilik hak suara i. The contractual arrangement with the other vote
lainnya dari investee, holders of the investee,
ii. Hak yang timbul atas pengaturan kontraktual lain, ii. Rights arising from other contractual
dan arrangements, and
iii. Hak suara dan hak suara potensial yang dimiliki iii. The Group’s voting rights and potential voting
Grup. rights.
Grup menilai kembali apakah mereka mengendalikan The Group re-assesses whether or not it controls an
investee bila fakta dan keadaan mengindikasikan investee if facts and circumstances indicate that there
adanya perubahan terhadap satu atau lebih dari are changes to one or more of the three elements of
ketiga elemen dari pengendalian. Konsolidasi atas control. Consolidation of a subsidiary begins when the
entitas-entitas anak dimulai sejak Grup memperoleh Group obtain the control over the subsidiary and
pengendalian atas entitas anak dan berhenti pada ceases when the Group loses control of the subsidiary.
saat Grup kehilangan pengendalian atas Assets, liabilities, income and expenses of a subsidiary
Perusahaan. Aset, liabilitas, penghasilan dan beban acquired during the year are included in the
dari entitas anak yang diakuisisi pada tahun tertentu consolidated financial statements from the date the
disertakan dalam laporan keuangan konsolidasian Group gain control until the date the Group cease to
sejak tanggal Grup memperoleh kendali sampai control the subsidiary.
tanggal Grup tidak lagi mengendalikan entitas anak
tersebut.
Laporan keuangan entitas anak disusun dengan The financial statements of the subsidiaries are
periode pelaporan yang sama dengan Perusahaan. prepared for the same reporting period as the
Kebijakan akuntansi yang digunakan dalam penyajian Company. The accounting policies adopted in
laporan keuangan konsolidasian telah diterapkan preparing the consolidated financial statements have
secara konsisten oleh Grup, kecuali dinyatakan lain. been consistently applied by the Group, unless
otherwise stated.
16
Page 227
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
c. Prinsip-prinsip konsolidasi (lanjutan) c. Principles of consolidation (continued)
Kepentingan non-pengendali (“KNP”) mencerminkan Non-controlling interests (“NCI”) represents the portion
bagian atas laba atau rugi dan aset neto dari entitas of the profit or loss and net assets of the subsidiary not
anak yang tidak dapat diatribusikan, secara langsung attributable directly or indirectly to the Company, which
maupun tidak langsung, pada Perusahaan, yang are presented in the consolidated statement of profit or
masing-masing disajikan dalam laporan laba rugi dan loss and other comprehensive income and under the
penghasilan komprehensif lain konsolidasian dan equity section of the consolidated statement of financial
dalam ekuitas pada laporan posisi keuangan position, respectively, separately from the
konsolidasian, terpisah dari bagian yang dapat corresponding portion attributable to the owner of the
diatribusikan kepada pemilik Perusahaan. Company.
Kepentingan non-pengendali pada awalnya dapat Non-controlling interest may initially be measured at
diukur sebesar nilai wajar atau bagian proporsional fair value or at the non-controlling interests’
kepentingan non-pengendali atas nilai wajar aset proportionate share of the fair value of the acquiree’s
neto teridentifikasi pihak yang diakuisisi. Pilihan identifiable net assets. The choice of measurement is
pengukuran dibuat untuk masing-masing akuisisi. made on an acquisition-by-acquisition basis. Other
Kepentingan non-pengendali lain awalnya diukur non-controlling interests are initially measured at fair
sebesar nilai wajar. Setelah akuisisi, jumlah tercatat value. Subsequent to acquisition, the carrying amount
kepentingan non-pengendali adalah jumlah of non-controlling interests is the amount of those
kepentingan tersebut pada pengakuan awal ditambah interests at initial recognition plus the non-controlling
bagian kepentingan non-pengendali dari perubahan interests’ share of subsequent changes in equity.
selanjutnya di ekuitas.
Seluruh laba rugi dan setiap komponen penghasilan Profit or loss and each component of other
komprehensif lain diatribusikan pada pemilik entitas comprehensive income are attributed to the equity
induk dan pada kepentingan non-pengendali (“KNP”), holders of the parent of the Company and to the non-
walaupun hal ini akan menyebabkan saldo KNP yang controlling interests (“NCI”), even if this results in the
defisit. Bila dipandang perlu, penyesuaian dilakukan NCI having deficit balance. When necessary,
terhadap laporan keuangan entitas anak untuk adjustments are made to the financial statements of
diselaraskan dengan kebijakan akuntansi Grup. subsidiary to bring their accounting policies into the line
with the Group accounting policies.
Seluruh saldo akun, transaksi, penghasilan dan All intra and inter-group balances, transactions, income
beban antar perusahaan yang signifikan, dan laba and expenses, and unrealized profits and losses
atau rugi hasil transaksi dari intra Grup yang belum resulting from intra-group transactions and dividends
direalisasi dan dividen dieliminasi pada saat are eliminated on consolidations.
konsolidasi.
Perubahan dalam bagian kepemilikan entitas induk A change in the parent’s ownership interest in a
terhadap entitas anak yang tidak mengakibatkan subsidiary, without a loss of control, is accounted for as
hilangnya pengendalian, dicatat sebagai transaksi an equity transaction. If the Company loss control over
ekuitas. Bila kehilangan pengendalian atas suatu a subsidiary, it derecognizes the related assets
entitas anak, maka Perusahaan menghentikan (including goodwill), liabilities, NCI and other
pengakuan atas aset (termasuk goodwill), liabilitas component of equity, while any resulting gain or loss is
dan komponen lain dari ekuitas terkait, sementara recognized in the profit or loss. Any investment
rugi atau laba yang dihasilkan diakui pada laba rugi. retained is recognized at fair value.
Bagian dari investasi yang tersisa diakui pada nilai
wajar.
Transaksi perubahan nilai investasi pada Entitas Change of carrying value of investment transaction
Anak yang timbul dari penerbitan saham baru oleh which derived from the issuance of new shares of
Entitas Anak kepada Perusahaan dicatat pada akun Subsidiary to the Company is recorded as “Differences
“Selisih transaksi perubahan ekuitas Entitas Anak arising from changes in equity of Subsidiary and effect
dan dampak transaksi dengan kepentingan non- of transactions with non-controlling interest” account
pengendali” sebagai bagian dari “Ekuitas” pada which is presented under the “Equity” account in the
laporan posisi keuangan konsolidasian. consolidated statement of financial position.
17
Page 228
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
d. Kombinasi bisnis d. Business combination
Kombinasi bisnis dicatat menggunakan metode Business combinations are accounted for using
akuisisi. Imbalan yang dialihkan dalam suatu acquisition method. The consideration transferred in a
kombinasi bisnis diukur pada nilai wajar, yang business combination is measured at fair value, which
dihitung sebagai hasil penjumlahan dari nilai wajar is calculated as the sum of the acquisition-date fair
tanggal akuisisi atas seluruh aset yang dialihkan oleh values of the assets transferred by the Group, liabilities
Grup, liabilitas yang diakui oleh Grup kepada pemilik incurred by the Group to the former owners of the
sebelumnya dari pihak yang diakuisisi dan acquiree, and the equity interests issued by the Group
kepentingan ekuitas yang diterbitkan oleh Grup in exchange for control of the acquiree. The
dalam pertukaran pengendalian dari pihak yang acquisition-related costs incurred are expensed in the
diakuisisi. Biaya akuisisi yang terjadi dibiayakan dan current period.
dicatat sebagai beban pada periode berjalan.
Pada tanggal akuisisi, aset teridentifikasi yang At the acquisition date, the identifiable assets acquired
diperoleh dan liabilitas yang diambil alih diakui pada and the liabilities assumed are recognized at their fair
nilai wajar kecuali untuk aset dan liabilitas tertentu value except for certain assets and liabilities that are
yang diukur sesuai dengan standar yang relevan. measured in accordance with the relevant standards.
Selisih lebih antara penjumlahan imbalan yang The excess of the aggregate of the consideration
dialihkan dan jumlah yang diakui untuk kepentingan transferred and the amount recognized for non-
non-pengendali dan nilai wajar kepentingan ekuitas controlling interest and the fair value of the acquirer’s
yang sebelumnya dimiliki oleh pihak pengakuisisi previously held equity interest in the acquiree (if any)
pada pihak diakuisisi (jika ada) atas jumlah neto pada over the net of the acquisition-date amounts of the
tanggal akuisisi atas aset teridentifikasi yang identifiable assets acquired and liabilities assumed is
diperoleh dan liabilitas yang diambil alih pada tanggal recorded as goodwill.
akuisisi dicatat sebagai goodwill.
Jika nilai wajar aset neto yang diperoleh melebihi If the fair value of the net assets acquired is in excess
jumlah gabungan imbalan yang dialihkan, Grup of the aggregate consideration transferred, the Group
menilai kembali apakah telah mengidentifikasi re-assesses whether it has correctly identified all of the
dengan tepat seluruh aset yang diperoleh dan assets acquired and all of the liabilities assumed and
seluruh liabilitas yang diambil alih dan menelaah reviews the procedures used to measure the amounts
prosedur yang digunakan untuk mengukur jumlah to be recognized at the acquisition date. If the
yang akan diakui pada tanggal akuisisi. Jika penilaian reassessment still results in an excess of the fair value
kembali masih menghasilkan selisih lebih nilai wajar of net assets acquired over the aggregate
aset neto yang diperoleh atas jumlah gabungan consideration transferred, then the gain is recognized
imbalan yang dialihkan, maka keuntungan diakui in profit or loss.
dalam laba rugi.
Bila imbalan yang dialihkan oleh Grup dalam suatu When the consideration transferred by the Group in a
kombinasi bisnis termasuk aset atau liabilitas yang business combination includes assets or liabilities
berasal dari pengaturan imbalan kontinjensi resulting from a contingent consideration arrangement,
(contingent consideration arrangement), imbalan the contingent consideration is measured at its
kontinjensi tersebut diukur pada nilai wajar pada acquisition date fair value and included as part of the
tanggal akuisisi dan termasuk sebagai bagian dari consideration transferred in a business combination.
imbalan yang dialihkan dalam suatu kombinasi bisnis. Changes in the fair value of the contingent
Perubahan dalam nilai wajar atas imbalan kontinjensi consideration that qualify as measurement period
yang memenuhi syarat sebagai penyesuaian periode adjustments are adjusted retrospectively, with
pengukuran disesuaikan secara retrospektif, dengan corresponding adjustments against goodwill.
penyesuaian terkait terhadap goodwill. Penyesuaian Measurement period adjustments are adjustments that
periode pengukuran adalah penyesuaian yang arise from additional information obtained during the
berasal dari informasi tambahan yang diperoleh measurement period (which cannot exceed one year
selama periode pengukuran (yang tidak melebihi satu from the acquisition date) about facts and
tahun sejak tanggal akuisisi) tentang fakta-fakta dan circumstances that existed at the acquisition date.
kondisi yang ada pada tanggal akuisisi.
18
Page 229
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
d. Kombinasi bisnis (lanjutan) d. Business combination (continued)
Perlakuan akuntansi selanjutnya untuk perubahan The subsequent accounting for changes in the fair
nilai wajar dari imbalan kontinjensi yang tidak value of the contingent consideration that do not qualify
memenuhi syarat sebagai penyesuaian periode as measurement period adjustments depends on how
pengukuran tergantung pada bagaimana imbalan the contingent consideration is classified. Contingent
kontinjensi diklasifikasikan. Imbalan kontinjensi yang consideration that is classified as equity is not
diklasifikasikan sebagai ekuitas tidak diukur kembali remeasured at subsequent reporting dates and its
pada setiap tanggal pelaporan dan penyelesaian subsequent settlement is accounted for within equity.
selanjutnya diperhitungkan dalam ekuitas.
Imbalan kontinjensi yang diklasifikasikan sebagai Contingent consideration classified as an asset or
aset atau liabilitas yang merupakan instrumen liability that is a financial instrument and within the
keuangan dan termasuk dalam ruang lingkup PSAK scope of PSAK 109 is measured at fair value with the
109 diukur pada nilai wajar dengan perubahan atas changes in fair value recognized in profit or loss in
nilai wajar diakui dalam laba rugi sesuai dengan accordance with PSAK 109. Other contingent
PSAK 109. Imbalan kontinjensi lain yang tidak consideration that is not within the scope of PSAK 109
termasuk dalam ruang lingkup PSAK 109 diukur pada is measured at fair value at each reporting date with
nilai wajar pada setiap tanggal pelaporan dengan changes in fair value recognized in profit or loss.
perubahan atas nilai wajar diakui dalam laba rugi.
Bila suatu kombinasi bisnis dilakukan secara When a business combination is achieved in stages,
bertahap, kepemilikan terdahulu Grup atas pihak the Group’s previously held equity interests in the
diakuisisi diukur kembali ke nilai wajar pada tanggal acquired entity are remeasured to its acquisition-date
akuisisi dan keuntungan atau kerugian dihasilkan, jika fair value and the resulting gain or loss, if any, is
ada, diakui dalam laba rugi. Jumlah yang berasal dari recognized in profit or loss. Amounts arising from
kepemilikan sebelum tanggal akuisisi yang interests in the acquiree prior to the acquisition date
sebelumnya telah diakui dalam penghasilan that have previously been recognized in other
komprehensif lain direklasifikasi ke laba rugi dimana comprehensive income are reclassified to profit or loss
perlakuan tersebut akan sesuai jika kepemilikan where such treatment would be appropriate if that
tersebut dilepas/dijual. interests were disposed of.
Jika akuntansi awal untuk kombinasi bisnis belum If the initial accounting for a business combination is
selesai pada akhir periode pelaporan saat kombinasi incomplete by the end of the reporting period in which
terjadi, Grup melaporkan jumlah sementara untuk the combination occurs, the Group reports provisional
pos-pos yang proses akuntansinya belum selesai amounts for the items for which the accounting is
dalam laporan keuangannya. Selama periode incomplete. Those provisional amounts are adjusted
pengukuran, pihak pengakuisisi menyesuaikan retrospectively during the measurement period, or
secara retrospektif, aset atau liabilitas tambahan additional assets or liabilities are recognized, to reflect
yang diakui, untuk mencerminkan informasi baru new information obtained about facts and
yang diperoleh tentang fakta dan keadaan yang ada circumstances that existed as at the acquisition date
pada tanggal akuisisi dan, jika diketahui, akan that, if known, would have affected the amount
berdampak pada jumlah yang diakui pada tanggal recognized as at that date.
tersebut.
e. Kombinasi bisnis entitas sepengendali e. Business combination of entities under common
control
Kombinasi bisnis antara entitas sepengendali Business combination involving entities under common
diperlakukan sesuai dengan PSAK 338. Berdasarkan control is accounted in accordance with PSAK 338.
PSAK ini, transaksi kombinasi bisnis entitas Under this PSAK, business combination of entities
sepengendali, berupa pengalihan bisnis yang under common control transactions, such as transfers
dilakukan dalam rangka reorganisasi entitas-entitas of business conducted within the framework of the
yang berada di dalam suatu Grup yang sama, bukan reorganization of the entities that are in the same
merupakan perubahan kepemilikan dalam arti group, is not a change of ownership in terms of
substansi ekonomi, sehingga transaksi tersebut tidak economic substance, hence, the transaction does not
menimbulkan laba atau rugi bagi Grup secara result in a gain or loss for the Group as a whole or for
keseluruhan ataupun bagi entitas individu dalam individual entities within the Group.
Grup tersebut.
19
Page 230
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
e. Kombinasi bisnis entitas sepengendali (lanjutan) e. Business combination of entities under common
control (continued)
Kombinasi bisnis sepengendali dicatat dengan Business combinations under common control are
menggunakan metode penyatuan kepemilikan. accounted for using the pooling-of-interests method.
Metode penyatuan kepemilikan diterapkan seolah- The pooling-of-interest method is applied as if the
olah entitas-entitas tersebut telah bergabung sejak entities had been combined from the period when the
periode dimana entitas yang bergabung berada merging entities were placed under common control.
dalam sepengendalian. Selisih antara imbalan yang The difference between the consideration transferred
dialihkan dan nilai tercatat aset neto pihak yang and the book value of the net assets of the acquiree is
diakuisisi disajikan dalam “tambahan modal disetor” presented under “additional paid-in capital” and is not
dan tidak direklasifikasi ke laba rugi atau recycled to profit or loss nor reclassified to retained
direklasifikasi ke saldo laba ketika pengendalian earnings when control is lost.
hilang.
f. Investasi pada ventura bersama f. Investment in joint ventures
Pengaturan bersama diklasifikasikan sebagai operasi Investments in joint arrangements are classified as
bersama atau ventura bersama bergantung pada hak either joint operations or joint ventures depending on
dan kewajiban kontraktual para investor bukan the contractual rights and obligations of each investor
struktur hukum dari pengaturan bersama. Grup telah rather than the legal structure of the joint arrangement.
menilai sifat dari pengaturan bersama dan Group has assessed the nature of its joint
menentukan pengaturan tersebut sebagai ventura arrangements and determined them to be joint
bersama. Ventura bersama dicatat menggunakan ventures. A joint venture is accounted for using the
metode ekuitas. equity method.
Sesuai metode ekuitas, investasi pada ventura Under the equity method, the investment in a joint
bersama pada awalnya dicatat pada biaya perolehan venture is initially recognised at cost and adjusted
dan selanjutnya disesuaikan untuk mengakui bagian thereafter to recognise the investor’s share of the post-
investor atas laba rugi pasca akuisisi dari pihak yang acquisition profits or losses of the investee in profit or
diakuisisi atas laba rugi, dan bagiannya atas loss, and its share of movements in other
pergerakan penghasilan komprehensif lainnya dari comprehensive income of the investee in other
pihak yang diakuisisi atas penghasilan komprehensif comprehensive income.
lainnya.
Dividen yang diterima atau yang akan diterima dari Dividends received or receivable from a joint venture
ventura bersama diakui sebagai pengurang jumlah are recognised as a reduction in the carrying amount of
tercatat investasi. the investment.
Jika bagian Grup atas kerugian ventura bersama When the Group’s share of losses in a joint venture
sama dengan atau melebihi kepentingannya pada equals or exceeds its interest in the joint ventures,
ventura bersama, termasuk piutang tanpa agunan, including any other unsecured receivables, the Group
Grup menghentikan pengakuan bagian kerugiannya, does not recognise further losses, unless it has
kecuali Grup memiliki kewajiban legal atau konstruktif incurred legal or constructive obligations or made
atau melakukan pembayaran atas nama ventura payments on behalf of the joint venture.
bersama.
Keuntungan dan kerugian yang belum direalisasi atas Unrealised gains and losses on transactions between
transaksi antara Grup dan ventura bersama telah the Group and a joint venture have been eliminated to
dieliminasi sebesar kepemilikan Grup pada ventura the extent of the Group’s interest in the joint venture.
bersama tersebut.
Setiap akhir periode pelaporan, Grup mengevaluasi At the end of each reporting period, the Group
apakah terdapat bukti objektif bahwa investasi assesses whether there is objective evidence that
pada ventura bersama mengalami penurunan nilai. investment in a joint venture is impaired.
20
Page 231
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
g. Transaksi dan saldo dalam mata uang asing g. Foreign currency transactions and balances
Transaksi dalam mata uang asing dicatat Transactions involving foreign currencies are recorded
berdasarkan kurs yang berlaku pada saat transaksi at the rates of exchange prevailing at the time the
dilakukan. Pada tanggal laporan, aset dan liabilitas transactions are made. At reporting date, monetary
moneter dalam mata uang asing disesuaikan ke assets and liabilities denominated in foreign currencies
dalam Rupiah berdasarkan kurs rata-rata Bank are adjusted to Rupiah based on the average rates of
Indonesia yang berlaku pada tanggal tersebut. Laba exchange published by Bank Indonesia at that date.
atau rugi kurs yang terjadi, dikreditkan atau The resulting gains or losses are credited or charged to
dibebankan pada laba rugi tahun berjalan. the current year operations.
Pada tanggal 31 Desember 2024 dan 2023, kurs As of December 31, 2024 and 2023, the middle rates
tengah yang diterbitkan Bank Indonesia mata uang published by Bank Indonesia of foreign currencies
asing yang digunakan adalah sebagai berikut: used are as follows:
2024 2023
1 Dolar Amerika Serikat
(“Dolar AS”) 16,162 15,416 United States Dollar 1 (“US Dollar”)
1 Yuan China (“CNY”) 2,214 2,170 Chinese Yuan 1 (“CNY”)
1 Dolar Singapura (“SGD”) 11,919 11,712 Singapore Dollar 1 (“SGD”)
1 Euro (“Euro”) 16,851 17,140 Euro 1 (“Euro”)
1 Poundsterling Inggris (“GBP”) 20,333 19,760 Great Britain Poundsterling 1 (“GBP”)
h. Transaksi dengan pihak-pihak berelasi h. Transactions with related parties
Grup memiliki transaksi dengan pihak berelasi The Group has transactions with related parties as
sebagaimana yang didefinisikan dalam PSAK 224 defined under PSAK 224 “Related Party Disclosures”.
“Pengungkapan Pihak-pihak Berelasi”.
Transaksi ini dilakukan berdasarkan persyaratan The transactions are made based on terms agreed by
yang disetujui oleh kedua belah pihak. the parties.
Seluruh transaksi dan saldo yang material dengan All material transactions and balances with related
pihak-pihak berelasi diungkapkan dalam catatan atas parties are disclosed in the relevant notes to the
laporan keuangan konsolidasian yang relevan. consolidated financial statements.
i. Instrumen keuangan i. Financial instruments
Instrumen keuangan adalah setiap kontrak yang A financial instrument is any contract that gives rise to
menimbulkan aset keuangan pada satu entitas dan a financial asset of one entity and a financial liability or
liabilitas keuangan atau instrumen ekuitas pada equity instrument of another entity.
entitas lain.
Aset keuangan dan liabilitas keuangan diakui pada Financial assets and financial liabilities are recognized
laporan posisi keuangan konsolidasian pada saat on the consolidated statement of financial position
Grup menjadi salah satu pihak dalam ketentuan when the Group becomes a party to the contractual
kontraktual instrumen tersebut. provisions of the instrument.
(i) Aset keuangan (i) Financial assets
Pengakuan dan pengukuran awal Initial recognition and measurement
Grup mengklasifikasikan aset keuangan dalam The Group classifies its financial assets into the
kategori berikut ini: following categories.
(i) aset keuangan diukur pada biaya (i) financial assets measured at amortised cost;
perolehan diamortisasi; (ii) financial assets measured at fair value either
(ii) aset keuangan diukur pada nilai wajar through profit or loss (“FVTPL”); and
melalui laba rugi (“FVTPL”); dan (iii) financial assets measured at fair value
(iii) aset keuangan diukur pada nilai wajar through other comprehensive income
melalui penghasilan komprehensif lain (“FVOCI”).
(“FVOCI”).
21
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The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
i. Instrumen keuangan (lanjutan) i. Financial instruments (continued)
(i) Aset keuangan (lanjutan) (i) Financial assets (continued)
Pengakuan dan pengukuran awal (lanjutan) Initial recognition and measurement (continued)
Klasifikasi ini tergantung pada model bisnis Grup The classification depends on the Group’s
dan persyaratan kontraktual arus kas - apakah business model and the contractual terms of the
penentuan arus kasnya semata-mata dari cash flows when determining whether their cash
pembayaran pokok dan bunga. flows are solely payment of principal and interest.
Grup menentukan klasifikasi aset keuangan The Group determines the classification of its
pada pengakuan awal. Untuk investasi pada financial assets at initial recognition. For
instrumen utang, hal ini akan bergantung pada investments in debt instruments, this will depend
model bisnis dimana investasi tersebut on the business model in which the investment is
diadakan. Grup mereklasifikasi investasi pada held. The Group reclassifies investments in debt
instrumen utang jika dan hanya jika model bisnis instruments when and only when its business
untuk mengelola aset tersebut berubah. model for managing those assets changes.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the Group
Grup memiliki aset keuangan yang diukur pada has financial assets measured at amortised costs,
biaya perolehan diamortisasi, yang terdiri dari which comprise cash and cash equivalents,
kas dan setara kas, kas di bank dan deposito restricted cash in bank and time deposits, short-
berjangka yang dibatasi penggunaannya, term investments, trade receivables and other
investasi jangka pendek, piutang usaha dan receivables, financial assets measured at fair
piutang lain-lain, aset keuangan yang diukur value through other comprehensive income, which
pada nilai wajar melalui penghasilan comprise of investment in government bonds and
komprehensif lain, yang terdiri dari investasi financial assets measured at fair value through
pada surat utang negara, dan aset keuangan profit or loss, which comprise of investment in
yang diukur pada nilai wajar melalui laba rugi, mutual funds.
yang terdiri dari investasi reksa dana.
- Aset keuangan diukur pada biaya - Financial assets held at amortised cost
perolehan diamortisasi
Klasifikasi ini berlaku untuk instrumen This classification applies to debt
utang yang dikelola dalam model bisnis instruments which are held under a “hold to
“dimiliki untuk mendapatkan arus kas” dan collect” business model and which have
memiliki arus kas yang memenuhi kriteria cash flows that meet the “solely payments of
“semata-mata dari pembayaran pokok dan principal and interest” (“SPPI”) criteria.
bunga”.
Pada pengakuan awal, aset keuangan At initial recognition, financial assets that do
yang tidak memiliki komponen pendanaan not have a significant financing component
yang signifikan, diakui sebesar harga are recognised at their transaction price.
transaksi. Aset keuangan lainnya awalnya Other financial assets are initially recognised
diakui sebesar nilai wajar dikurangi biaya at fair value less related transaction costs.
transaksi yang terkait. Aset keuangan ini They are subsequently measured at
selanjutnya diukur sebesar biaya perolehan amortised cost using the effective interest
diamortisasi menggunakan metode suku rate (“EIR”) method. Any gains or losses on
bunga efektif (“EIR”). Keuntungan atau derecognition or modification of a financial
kerugian pada penghentian atau modifikasi asset held at amortised cost are recognised
aset keuangan yang dicatat yang dicatat in profit or loss.
pada biaya perolehan diamortisasi diakui
pada laba rugi.
22
Page 233
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
[
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
i. Instrumen keuangan (lanjutan) i. Financial instruments (continued)
(i) Aset keuangan (lanjutan) (i) Financial assets (continued)
Pengakuan dan pengukuran awal (lanjutan) Initial recognition and measurement (continued)
- Aset keuangan diukur pada nilai wajar - Financial assets held at FVOCI
melalui penghasilan komprehensif lain
Klasifikasi ini berlaku untuk instrumen This classification applies to debt
utang yang dikelola dengan model bisnis instruments that are held under a business
yang bertujuan untuk memiliki aset model where they are held for collection of
keuangan dalam rangka mendapatkan arus contractual cash flows and also for sale
kas kontraktual dan menjual dan di mana (“collect and sell”) and which have cash
arus kasnya memenuhi kriteria “semata- flows that meet the “solely payments of
mata dari pembayaran pokok dan bunga”. principal and interest” criteria.
Perubahan nilai wajar aset keuangan ini All movements in the fair value of these
dicatat pada penghasilan komprehensif financial assets are taken through other
lain, kecuali pengakuan keuntungan atau comprehensive income, except for the
kerugian penurunan nilai, pendapatan recognition of impairment gains or losses,
bunga (termasuk biaya transaksi interest (including transaction costs by
menggunakan metode EIR), keuntungan revenue applying the effective interest
atau kerugian yang timbul dari penghentian method), gains or losses arising on
dan keuntungan dan kerugian dari selisih derecognition and foreign exchange gains
kurs diakui pada laba rugi. Ketika aset and losses which are recognised in profit or
keuangan dihentikan, keuntungan atau loss. When the financial asset is
kerugian nilai wajar kumulatif yang derecognised, the cumulative fair value
sebelumnya diakui pada penghasilan gains or losses previously recognised in
komprehensif lain direklasifikasi pada laba other comprehensive income is reclassified
rugi. to profit or loss.
- Aset keuangan diukur pada nilai wajar - Financial assets at fair value through profit or
melalui laba rugi loss
Aset yang tidak memenuhi kriteria untuk Assets that do not meet the criteria for
biaya perolehan diamortisasi atau nilai amortised cost or FVOCI are measured at
wajar melalui penghasilan komprehensif fair value through profit or loss. A gain or
lain diukur pada nilai wajar melalui laporan loss on investment in mutual funds that is
laba rugi. Keuntungan atau kerugian dari subsequently measured at fair value through
investasi reksa dana yang selanjutnya profit or loss and is not part of a hedging
diukur pada nilai wajar melalui laporan laba relationship is recognised in profit or loss
rugi dan bukan merupakan bagian dari and presented net in the statement of profit
hubungan lindung nilai, diakui dalam or loss within other gains/(losses) in the
laporan laba rugi dan disajikan bersih period in which it arises.
dalam laporan laba rugi di dalam
keuntungan/(kerugian) lainnya dalam
periode kemunculannya.
Penghentian pengakuan Derecognition
Aset keuangan dihentikan pengakuannya ketika: A financial asset is derecognised when:
- hak untuk menerima arus kas dari aset - the rights to receive cash flows from the
telah kedaluwarsa; atau asset have expired; or
23
Page 234
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
i. Instrumen keuangan (lanjutan) i. Financial instruments (continued)
(i) Aset keuangan (lanjutan) (i) Financial assets (continued)
Penghentian pengakuan (lanjutan) Derecognition (continued)
- Grup telah mengalihkan haknya untuk - the Group has transferred its rights to
menerima arus kas dari aset atau telah receive cash flows from the asset or has
mengasumsikan kewajiban untuk assumed an obligation to pay the received
membayar arus kas yang diterima secara cash flows in full without material delay to a
penuh tanpa penundaan material kepada third party under a ‘pass-through’
pihak ketiga berdasarkan pengaturan arrangement; and either (a) the Group has
‘pass-through’; dan salah satu (a) Grup transferred substantially all the risks and
telah mengalihkan secara substansial rewards of the asset, or (b) the Group has
semua risiko dan manfaat aset, atau (b) neither transferred nor retained substantially
Grup tidak mengalihkan atau memiliki all the risks and rewards of the asset, but
secara substansial seluruh risiko dan has transferred control of the asset.
manfaat aset, tetapi telah mengalihkan
pengendalian aset.
Penurunan nilai Impairment
Grup menilai berdasarkan basis forward looking The Group assesses on a forward-looking basis,
untuk mengukur kerugian kredit ekspektasian the Expected Credit Losses (“ECL”) associated
(“ECL”) terhadap aset keuangan yang diukur with its financial assets carried at amortised cost
pada biaya perolehan diamortisasi dan dan nilai and FVOCI. The impairment method applied
wajar melalui penghasilan komprehensif lain. depends on whether there has been a significant
Metode penurunan nilai dilakukan dengan increase in credit risk.
mempertimbangkan apakah risiko kredit telah
meningkat secara signifikan.
Pada setiap periode pelaporan, Grup menilai At each reporting date, the Group assesses
apakah risiko kredit dari instrumen keuangan whether the credit risk on a financial instrument
telah meningkat secara signifikan sejak has increased significantly since initial recognition.
pengakuan awal. Ketika melakukan penilaian, When making the assessment, the Group uses
Grup menggunakan perubahan atas risiko gagal the change in the risk of a default occurring over
bayar yang terjadi sepanjang perkiraan usia the expected life of the financial instrument
instrumen keuangan daripada perubahan atas instead of the change in the amount of ECL. To
jumlah ECL. Dalam melakukan penilaian, Grup make that assessment, the Group compares the
membandingkan antara risiko gagal bayar yang risk of a default occurring on the financial
terjadi atas instrumen keuangan pada saat instrument as at the reporting date with the risk of
periode pelaporan dengan risiko gagal bayar a default occurring on the financial instrument as
yang terjadi atas instrumen keuangan pada saat at the date of initial recognition and considers
pengakuan awal dan mempertimbangkan reasonable and supportable information, that is
kewajaran serta ketersediaan informasi yang available without undue cost or effort at the
tersedia pada saat tanggal pelaporan terkait reporting date about past events, current
dengan kejadian masa lalu, kondisi terkini dan conditions and forecasts of future economic
perkiraan atas kondisi ekonomi di masa depan, conditions, that is indicative of significant
yang mengindikasikan kenaikan risiko kredit increases in credit risk since initial recognition.
sejak pengakuan awal.
Untuk piutang usaha dan piutang lain-lain tanpa For trade receivables and other receivables
komponen pendanaan yang signifikan, Grup without significant financing components, the
menerapkan pendekatan yang disederhanakan Group applies the simplified approach permitted
yang diizinkan oleh PSAK 109, yang by PSAK 109, which requires expected lifetime
mensyaratkan ekspektasi kerugian seumur losses to be recognised from the initial recognition
hidup harus diakui sejak pengakuan awal aset of the financial assets.
keuangan.
24
Page 235
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
i. Instrumen keuangan (lanjutan) i. Financial instruments (continued)
(i) Aset keuangan (lanjutan) (i) Financial assets (continued)
Penurunan nilai (lanjutan) Impairment (continued)
Grup menganggap aset keuangan gagal bayar The Group considers a financial asset in default
ketika pembayaran kontraktual telah lewat 90 when contractual payments are 90 days past due.
hari. Namun, dalam kasus tertentu, Grup juga However, in certain cases, the Group may also
dapat mempertimbangkan aset keuangan consider a financial asset to be in default when
mengalami gagal bayar ketika informasi internal internal or external information indicates that the
atau eksternal menunjukkan bahwa Grup tidak Group is unlikely to receive the outstanding
mungkin menerima jumlah kontraktual yang contractual amounts in full before taking into
terutang secara penuh sebelum account any credit enhancements held by the
memperhitungkan setiap peningkatan kredit Group. A financial asset is written off when there
yang dimiliki oleh Grup. Aset keuangan is no reasonable expectation of recovering the
dihapuskan jika tidak ada ekspektasi yang wajar contractual cash flows.
untuk memulihkan arus kas kontraktual.
Kas dan setara kas dan investasi jangka pendek Cash and cash equivalents and short-term
juga tunduk pada persyaratan penurunan nilai investments are also subject to impairment
PSAK 109. ECL didasarkan pada rating kredit requirements of PSAK 109. The ECL rates are
bank untuk mengestimasi kemungkinan gagal based on the bank’s credit rating to estimate the
bayar selama jangka waktu tertentu dan probability of default over a given time horizon
menggunakan referensi Basel II yang digunakan and utilise the commonly used Basel II reference
secara umum untuk mengestimasi kerugian to estimate the losses arising on default.
yang muncul dari gagal bayar.
(ii) Liabilitas keuangan (ii) Financial liabilities
Liabilitas keuangan diklasifikasikan sebagai Financial liabilities are classified as follows:
berikut: liabilitas keuangan yang diukur pada financial liabilities at fair value through profit or
nilai wajar melalui laba rugi dan liabilitas loss and financial liabilities at amortised cost.
keuangan yang diukur pada biaya perolehan
diamortisasi.
Pada tanggal 31 Desember 2024 dan 2023, As of December 31, 2024 and 2023, the Group
Grup hanya memiliki liabilitas keuangan yang only had financial liabilities measured at amortised
diukur sebesar biaya perolehan diamortisasi, cost, which comprise short-term bank loans, trade
yang terdiri dari pinjaman bank jangka pendek, payables, other payables, accrued expenses,
utang usaha, utang lain-lain, beban akrual, lease liabilities and customer guarantee.
liabilitas sewa, dan uang jaminan pelanggan.
Setelah pengakuan awal, yaitu pada nilai wajar After initial recognition which is at fair value plus
ditambah biaya transaksi, Grup mengukur transaction costs, the Group measures all
seluruh liabilitas keuangan pada biaya financial liabilities at amortised cost using the EIR
perolehan diamortisasi dengan menggunakan method. A financial liability is derecognised when
metode EIR. Liabilitas keuangan tidak diakui the obligation under the liability is discharged or
ketika liabilitas keuangan telah dilepaskan atau cancelled.
dibatalkan.
25
Page 236
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
i. Instrumen keuangan (lanjutan) i. Financial instruments (continued)
(iii) Saling hapus instrumen keuangan (iii) Offsetting of financial instruments
Aset keuangan dan liabilitas keuangan Financial assets and liabilities are offset and the
disalinghapuskan dan jumlah netonya net amount is reported in the statement of
dilaporkan pada laporan posisi keuangan ketika financial position when there is a legally
terdapat hak yang berkekuatan hukum untuk enforceable right to offset the recognised amounts
melakukan saling hapus atas jumlah yang telah and there is an intention to settle on a net basis,
diakui tersebut dan adanya niat untuk or realise the asset and settle the liability
menyelesaikan secara neto, atau untuk simultaneously.
merealisasikan aset dan menyelesaikan liabilitas
secara bersamaan.
Hak saling hapus tidak kontinjen atas peristiwa The legally enforceable right must not be
di masa depan dan dapat dipaksakan secara contingent on future events and must be
hukum dalam situasi bisnis yang normal dan enforceable in the normal course of business and
dalam peristiwa gagal bayar, atau peristiwa in the event of default in solvency or bankruptcy of
kepailitan atau kebangkrutan Grup atau pihak the Group or the counterparty.
lawan.
j. Kas dan setara kas j. Cash and cash equivalents
Pada laporan arus kas konsolidasian, kas dan setara In the consolidated statement of cash flows, cash and
kas termasuk kas, kas di bank, dan deposito cash equivalents consist of cash on hand, cash in
berjangka yang jatuh tempo dalam jangka waktu tiga banks, and time deposits with original maturity periods
bulan atau kurang sejak tanggal perolehan, yang of three months or less since the acquisition date,
tidak digunakan sebagai jaminan atau tidak dibatasi which are not pledged as collateral nor restricted for
penggunaannya dan cerukan. Setara kas use and bank overdrafts. Cash equivalents are defined
didefinisikan sebagai investasi jangka pendek dan as short-term, highly liquid investments that are readily
sangat likuid yang dapat dikonversi ke sejumlah kas convertible into known amounts of cash and which are
yang telah diketahui dan tidak memiliki risiko subject to insignificant risk of changes in value. In the
perubahan nilai yang signifikan. Pada laporan posisi consolidated statement of financial position, bank
keuangan konsolidasian, cerukan disajikan bersama overdraft is shown within bank loans in current
sebagai pinjaman bank dalam liabilitas jangka liabilities.
pendek.
Deposito berjangka dengan jangka waktu lebih dari 3 Time deposits with maturity period more than 3 (three)
(tiga) bulan sampai 12 (dua belas) bulan disajikan months up to 12 (twelve) months are presented as
sebagai investasi jangka pendek dalam laporan short-term investments in the consolidated statement
posisi keuangan konsolidasian. of financial position.
k. Piutang usaha dan piutang lain-lain k. Trade and other receivables
Piutang usaha merupakan jumlah yang terutang dari Trade receivables are amounts due from customers for
pelanggan atas penjualan barang dagangan atau merchandise sold or services performed in the ordinary
jasa dalam kegiatan usaha normal. Piutang lain-lain course of business. Other receivables are receivables
merupakan saldo piutang yang timbul dari transaksi arising from transactions outside of the ordinary course
di luar kegiatan usaha biasa. of business.
Piutang usaha dan piutang lain-lain pada awalnya Trade and other receivables are recognised initially at
diakui sebesar nilai wajar dan selanjutnya diukur fair value and subsequently measured at amortised
pada biaya perolehan yang diamortisasi dengan cost using the EIR method, if the impact of discounting
menggunakan metode EIR, apabila dampak is significant, less any provision for impairment.
pendiskontoan signifikan, dikurangi provisi atas
penurunan nilai.
26
Page 237
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
k. Piutang usaha dan piutang lain-lain (lanjutan) k. Trade and other receivables (continued)
Jika piutang diperkirakan dapat ditagih dalam waktu If collection of the receivables is expected in one year
satu tahun atau kurang (atau dalam siklus operasi or less (or in the normal operating cycle of the business
normal jika lebih panjang), piutang diklasifikasikan if longer), they are classified as current assets. If not,
sebagai aset lancar. Jika tidak, piutang disajikan they are presented as non-current assets.
sebagai aset tidak lancar.
Grup menerapkan pendekatan yang disederhanakan The Group applies the PSAK 109 simplified approach
menurut PSAK 109 untuk mengukur ECL yang to measure ECL which uses a lifetime ECL for all trade
menggunakan kerugian seumur hidup untuk semua and other receivables. To measure the ECL, trade and
piutang usaha dan piutang lain-lain. Untuk mengukur other receivables have been grouped based on shared
ECL, piutang usaha dan piutang lain-lain credit risk characteristics and the receivables days past
dikelompokkan berdasarkan karakteristik risiko kredit due.
bersama dan piutang yang telah lewat jatuh tempo.
Lihat Catatan 3i untuk penurunan nilai aset Refer to Note 3i for impairment of financial assets,
keuangan, termasuk piutang usaha dan piutang lain- including trade and other receivables.
lain.
Jumlah kerugian penurunan nilai diakui laba rugi. The amount of the impairment loss is recognised in
Ketika piutang usaha yang mana cadangan profit or loss. When a trade receivable for which an
penurunan nilai nya telah diakui menjadi tidak dapat impairment allowance had been recognised becomes
terkoleksi di periode selanjutnya, piutang tersebut uncollectible in a subsequent period, it is written off
dihapus-bukukan terhadap akun pencadangan nya. against the allowance account. Subsequent recoveries
Pemulihan kemudian atas jumlah yang sebelumnya of amounts previously written-off are credited against
dihapus-bukukan dikreditkan terhadap laba rugi. profit or loss.
l. Persediaan l. Inventories
Persediaan dinyatakan sebesar nilai yang lebih Inventories are stated at the lower of cost or net
rendah antara biaya perolehan dan nilai realisasi realisable value.
neto.
Harga perolehan ditentukan dengan menggunakan Cost is determined using the weighted average
metode rata-rata tertimbang. Harga perolehan barang method. The cost of finished goods and work in
jadi dan pekerjaan dalam proses terdiri dari bahan progress comprises raw materials, direct labour, other
baku, tenaga kerja langsung, biaya langsung lainnya direct costs and related production overheads (based
dan biaya overhead produksi (berdasarkan kapasitas on normal operating capacity). It excludes borrowing
normal operasi). Persediaan tidak mencakup biaya costs. Net realisable value is the estimated selling price
pinjaman. Nilai realisasi neto adalah estimasi harga in the ordinary course of business less the estimated
penjualan dalam kegiatan usaha biasa, dikurangi costs of completion and the estimated costs necessary
estimasi biaya penyelesaian dan estimasi biaya yang to make the sale.
dibutuhkan untuk melakukan penjualan.
Penyisihan untuk persediaan lambat bergerak dan A provision for slow-moving inventories and
usang dibuat berdasarkan telaah manajemen setiap obsolescence is made based on management’s review
akhir tahun. at the end of the year.
27
Page 238
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
m. Aset tetap m. Fixed assets
Aset tetap pada awalnya diakui sebesar biaya Fixed assets are initially recognised at cost, which
perolehan, yang terdiri atas harga perolehan dan comprises its purchase price and any additional costs
biaya-biaya tambahan yang dapat diatribusikan directly attributable to bringing the asset to its working
langsung untuk membawa aset ke lokasi dan kondisi condition and location for its intended use. Such cost
yang diinginkan agar aset siap digunakan sesuai also includes the initial estimation of the costs of
maksud manajemen. Biaya perolehan tersebut juga dismantling and removing the fixed assets and
termasuk estimasi awal atas biaya pembongkaran restoring the sites and the cost of replacing part of
dan pemindahan aset tetap dan pemulihan lokasi dan such fixed assets when that cost is incurred, if the
biaya untuk mengganti komponen dari aset tetap recognition criteria are met.
pada saat penggantian, bila kriteria pengakuan
terpenuhi.
Setelah pengakuan awal, aset tetap dinyatakan pada Subsequent to initial recognition, fixed assets are
biaya perolehan dikurangi akumulasi penyusutan dan carried at cost less accumulated depreciation and
kerugian penurunan nilai, jika ada. impairment losses, if any.
Aset tetap, kecuali tanah, didepresiasi Fixed assets, except land, are depreciated using the
menggunakan metode garis lurus berdasarkan straight-line method over their expected economic
estimasi masa manfaat aset tetap dengan tahun useful lives at the following years:
sebagai berikut:
Tahun/Years
Bangunan dan prasarana 20 - 30 Buildings and improvements
Mesin dan peralatan 4 - 16 Machinery and equipment
Instalasi listrik 8 - 20 Electricity installations
Kendaraan 4 - 10 Vehicles
Peralatan kantor 4 - 10 Office equipment
Biaya pengurusan legal hak atas tanah ketika tanah Costs associated with the acquisition of legal right of
diperoleh pertama kali diakui sebagai bagian dari land when the land was first acquired are recognized
biaya perolehan aset tanah. Biaya pengurusan as part of the cost of land. Costs associated with the
perpanjangan atau pembaharuan legal hak atas extension or renewal of legal right of land are
tanah diakui sebagai aset takberwujud dan recognized as an intangible asset and amortized over
diamortisasi sepanjang umur hukum hak atau umur the legal life of the land rights or economic life of the
ekonomis tanah, mana yang lebih pendek. land, whichever is shorter.
Grup menganalisis fakta dan keadaan untuk masing- The Group analyzes the facts and circumstances for
masing jenis hak atas tanah dalam menentukan each type of land rights in determining the accounting
akuntansi untuk masing-masing hak atas tanah for each of these land rights so that it can accurately
tersebut sehingga dapat merepresentasikan dengan represent an underlying economic event or transaction.
tepat suatu kejadian atau transaksi ekonomik yang If the land rights do not transfer control of the
mendasarinya. Jika hak atas tanah tersebut tidak underlying assets to the Group, but gives the rights to
mengalihkan pengendalian atas aset pendasar use the underlying assets, the Group applies the
kepada Grup, melainkan mengalihkan hak untuk accounting treatment of these transactions as leases
menggunakan aset pendasar, Grup menerapkan under PSAK 116, “Leases”. If land rights are
perlakuan akuntansi atas transaksi tersebut sebagai substantially similar to land purchases, the Group
sewa berdasarkan PSAK 116, “Sewa”. Jika hak atas applies PSAK 216, “Property, Plant and Equipment”.
tanah secara substansi menyerupai pembelian tanah,
maka Grup menerapkan PSAK 216, “Aset Tetap”.
Tanah dicatat pada nilai revaluasian. Revaluasi Land is stated at its revalued amount. Revaluations are
dilakukan dengan keteraturan yang cukup berkala performed with sufficient regularity such that the
untuk memastikan bahwa jumlah yang tercatat tidak carrying amount is not materially different from that
berbeda secara material dari jumlah yang ditentukan which would be determined using fair values at the
dengan menggunakan nilai wajar pada tanggal consolidated statement of financial position.
laporan posisi keuangan konsolidasian.
28
Page 239
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
m. Aset tetap (lanjutan) m. Fixed assets (continued)
Surplus revaluasi aset tetap yang termasuk dalam The revaluation surplus included in equity is transferred
ekuitas dipindahkan ke dalam saldo laba pada saat to retained earnings upon termination/disposal of
penghentian/pelepasan aset oleh entitas. assets by the entity. Transfer of revaluation surplus to
Pemindahan surplus revaluasi ke saldo laba tidak retained earnings is not made through profit or loss.
dilakukan melalui laba rugi.
Nilai tercatat atas aset tetap diestimasi apabila The carrying amount of fixed assets is estimated
terdapat peristiwa atau perubahan keadaan yang whenever events or changes in circumstances indicate
memberikan indikasi bahwa nilai perolehan mungkin that its carrying amount may not be fully recoverable.
tidak sepenuhnya dapat diperoleh kembali.
Jumlah tercatat aset tetap dihentikan pengakuannya An item of fixed assets is derecognised upon disposal
pada saat dilepaskan atau saat tidak ada manfaat or when no future economic benefits are expected from
ekonomis masa depan yang diharapkan dari its use or disposal. Any gain or loss arising on the
penggunaan atau pelepasannya. Laba atau rugi yang derecognition of the asset (calculated as the difference
timbul dari penghentian pengakuan aset (dihitung between the net disposal proceeds and the carrying
sebagai perbedaan antara jumlah neto hasil amount of the asset) is included in profit or loss in the
pelepasan dan jumlah tercatat dari aset) dimasukkan year the asset is derecognised.
dalam laba rugi pada tahun aset tersebut dihentikan
pengakuannya.
Pada setiap periode pelaporan, nilai residu, masa The asset’s residual values, useful lives and methods
manfaat dan metode penyusutan direviu, dan jika of depreciation are reviewed and adjusted
sesuai dengan keadaan, disesuaikan secara prospectively, if appropriate, at each reporting period.
prospektif.
Aset dalam penyelesaian dinyatakan sebesar harga Construction in progress is stated at cost. The
perolehan. Akumulasi biaya perolehan akan accumulated cost will be transferred to the appropriate
dipindahkan ke masing-masing akun aset tetap pada fixed asset account when the construction is completed
saat aset tetap tersebut telah selesai dikerjakan dan and the asset is ready for its intended use.
siap untuk digunakan sesuai tujuannya.
Beban pemeliharaan dan perbaikan dibebankan pada Repairs and maintenance expenses are expensed to
laba rugi pada saat terjadinya. Beban pemugaran dan profit or loss as incurred. The cost of major renovation
penambahan dalam jumlah besar dikapitalisasi and restoration is included in the carrying amount of
kepada nilai tercatat aset tetap terkait bila besar the related fixed asset when it is probable that future
kemungkinan bagi Grup manfaat ekonomi masa economic benefits in excess of the originally assessed
depan menjadi lebih besar dari standar kinerja awal standard of performance of the existing asset will flow
yang ditetapkan sebelumnya dan disusutkan to the Group and is depreciated over the remaining
sepanjang sisa masa manfaat aset tetap terkait, jika useful life of the related asset, if any.
ada.
n. Sewa n. Leases
Penentuan apakah suatu perjanjian merupakan, atau The determination of whether an arrangement is, or
mengandung, sewa dibuat berdasarkan substansi contains, a lease is made based on the substance of
perjanjian itu sendiri dan penilaian apakah the arrangement and assessment of whether fulfillment
pemenuhan atas perjanjian bergantung dari of the arrangement is dependent on the use of a
penggunaan aset tertentu atau aset, dan apakah specific asset or assets, and the arrangement conveys
perjanjian memberikan hak untuk menggunakan aset. a right to use the asset.
29
Page 240
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
[
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
n. Sewa (lanjutan) n. Leases (continued)
Sebagai Penyewa As Lessee
Grup menerapkan satu pendekatan pengakuan dan The Group applies a single recognition and
pengukuran untuk semua sewa, kecuali untuk sewa measurement approach for all leases, except for short-
jangka pendek dan sewa aset bernilai-rendah. Grup term leases and leases of low-value assets. The Group
mengakui liabilitas sewa untuk melakukan recognises lease liabilities to make lease payments
pembayaran sewa dan aset hak-guna yang and right-of-use assets representing the right to use
merupakan hak untuk menggunakan aset pendasar. the underlying assets.
Aset hak-guna Right-of-use assets
Aset hak-guna diukur pada biaya perolehan, dimana The right-of-use asset is initially measured at cost,
meliputi jumlah pengukuran awal liabilitas sewa yang which comprises the initial amount of the lease liability
disesuaikan dengan pembayaran sewa yang adjusted for any lease payment made at or before the
dilakukan pada atau sebelum tanggal permulaan, commencement date, plus any initial direct cost
ditambah dengan biaya langsung awal yang incurred and an estimate of costs to dismantle and
dikeluarkan dan estimasi biaya yang akan remove the underlying asset or to restore the
dikeluarkan untuk membongkar dan memindahkan underlying asset to the condition required by the terms
aset pendasar atau untuk merestorasi aset pendasar and conditions of the lease, less any lease incentives
ke kondisi yang disyaratkan dan ketentuan sewa, received.
dikurangi dengan insentif sewa yang diterima.
Aset hak-guna kemudian disusutkan menggunakan The right-of-use asset is subsequently depreciated
metode garis lurus dari tanggal permulaan hingga using the straight-line method from the commencement
tanggal yang lebih awal antara akhir umur manfaat date to the earlier of the end of the useful life of the
aset hak-guna atau akhir masa sewa. Jika Grup right-of-use asset or the end of the lease term. If the
cukup yakin untuk melaksanakan opsi pembelian, Group is reasonably certain to exercise a purchase
aset hak-guna disusutkan selama masa manfaat aset option, the right-of-use asset is depreciated over the
yang mendasarinya. Selain itu, aset hak-guna juga underlying asset’s useful life. In addition, the right-of-
dikurangkan dengan kerugian penurunan nilai, use asset is reduced by impairment losses, if any, and
apabila ada, dan disesuaikan untuk pengukuran adjusted for certain remeasurements of the lease
kembali tertentu atas liabilitas sewa. liability.
Liabilitas sewa Lease liabilities
Liabilitas sewa diukur pada nilai kini pembayaran The lease liability is initially measured at the present
sewa yang belum dibayar pada tanggal permulaan, value of the lease payments that are not paid at the
didiskontokan dengan menggunakan suku bunga commencement date, discounted using the interest
implisit dalam sewa atau jika suku bunga tersebut rate implicit in the lease or, if that rate cannot be readily
tidak dapat ditentukan, maka menggunakan suku determined, using the incremental borrowing rate.
bunga pinjaman inkremental. Pada umumnya, Grup Generally, the Group uses its incremental borrowing
menggunakan suku bunga pinjaman inkremental rate as the discount rate.
sebagai tingkat bunga diskonto.
Pembayaran sewa yang termasuk dalam pengukuran Lease payments included in the measurement of the
liabilitas sewa meliputi pembayaran tetap, termasuk lease liability comprise fixed payments, including in-
pembayaran tetap secara substansi dikurangi dengan substance fixed payments less any lease incentive
piutang insentif sewa. Pembayaran sewa yang harus receivable. Lease payments to be made under
dilakukan berdasarkan opsi perpanjangan tertentu reasonably certain extension options are also included
juga termasuk dalam pengukuran liabilitas. in the measurement of the liability.
Setiap pembayaran sewa dialokasikan antara Each lease payment is allocated between the liability
liabilitas dan beban keuangan. Utang sewa yang and the finance cost. The corresponding rental
terkait, dikurangi dengan beban keuangan, obligations, net of finance cost, are included in “Lease
dimasukkan ke dalam “Liabilitas sewa”. Elemen liabilities”. The finance cost is charged to profit or loss
bunga dari beban keuangan dibebankan pada laba over the lease period so as to produce a constant
rugi selama periode sewa sehingga menghasilkan periodic rate of interest on the remaining balance of the
tingkat bunga periodik yang konstan untuk saldo liability for each period.
liabilitas yang tersisa pada setiap periode.
30
Page 241
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
n. Sewa (lanjutan) n. Leases (continued)
Sebagai Penyewa (lanjutan) As Lessee (continued)
Modifikasi sewa Lease modification
Grup mencatat modifikasi sewa sebagai sewa The Group accounts for a lease modification as a
terpisah jika kedua kondisi berikut terpenuhi: separate lease if both condition met:
- 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 yang mendasarinya; dan assets; and
- pembayaran sewa meningkat sebesar jumlah - the consideration for the lease increases by an
yang setara dengan harga yang berdiri sendiri amount commensurate with the stand-alone price
untuk peningkatan ruang lingkup dan setiap for the increase in scope and any appropriate
penyesuaian yang tepat atas harga yang berdiri adjustments to that stand-alone price to reflect the
sendiri tersebut untuk mencerminkan keadaan circumstances of the particular contract.
kontrak tertentu.
Untuk modifikasi sewa yang tidak dicatat sebagai For a lease modification that is not accounted for as a
sewa terpisah, pada tanggal efektif modifikasi sewa, separate lease, at the effective date of the lease
Grup: modification, the Group:
- mengukur kembali dan mengalokasikan - remeasures and allocate the consideration in the
pembayaran dalam kontrak yang dimodifikasi. modified contract.
- menentukan masa sewa dari sewa yang - determines the lease term of the modified lease.
dimodifikasi.
- mengukur kembali liabilitas sewa dengan - remeasures the lease liability by discounting the
mendiskontokan pembayaran sewa yang direvisi revised lease payments using a revised discount
menggunakan tingkat diskonto yang direvisi rate on the basis of the remaining lease term and
berdasarkan sisa masa sewa dan sisa the remaining lease payment with a corresponding
pembayaran sewa dengan penyesuaian yang adjustment to the right-of-use assets. The revised
sesuai dengan aset hak-guna. Tingkat diskonto discount rate is determined as the Group’s
yang direvisi ditentukan sebagai suku bunga incremental borrowing rate at the effective date of
pinjaman inkremental Grup pada tanggal efektif the modification.
modifikasi.
- menurunkan nilai tercatat aset hak-guna untuk - decreases the carrying amount of the right- of-use
mencerminkan penghentian sebagian atau asset to reflect the partial or full termination of the
seluruh sewa untuk modifikasi sewa yang lease for lease modifications that decrease the
mengurangi ruang lingkup sewa. Grup mengakui scope of the lease. The Group recognises in profit
dalam laporan laba rugi setiap keuntungan atau or loss any gain or loss relating to the partial or full
kerugian yang berkaitan dengan penghentian termination of the lease, and
sebagian atau seluruh sewa, dan
- membuat penyesuaian yang sesuai dengan aset - makes a corresponding adjustment to the right-of-
hak-guna untuk semua modifikasi sewa lainnya. use asset for all other lease modifications.
Sewa jangka pendek dan sewa aset bernilai rendah Short-term leases and leases of low-value assets
Grup memilih untuk tidak mengakui aset hak-guna The Group elected not to recognise right-of-use assets
dan liabilitas sewa untuk sewa jangka pendek yang and lease liabilities for short-term leases which have a
memiliki masa sewa 12 bulan atau kurang sejak lease term of 12 months or less from the
tanggal permulaan dan tidak mengandung opsi commencement date and do not contain a purchase
pembelian dan aset bernilai-rendah. Pembayaran option and low-value assets. Lease payments on short-
sewa untuk sewa jangka pendek dan sewa atas aset term leases and leases of low-value assets are
bernilai rendah diakui sebagai beban dengan metode recognised as expense on a straight-line basis over the
garis lurus selama masa sewa. lease term.
31
Page 242
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
n. Sewa (lanjutan) n. Leases (continued)
Sebagai Pesewa As Lessor
Pada sewa di mana Grup tidak mengalihkan secara Leases in which the Group does not transfer
substansial semua risiko dan manfaat kepemilikan substantially all the risks and rewards of ownership of
suatu aset diklasifikasikan sebagai sewa operasi. an asset are classified as operating leases. Rental
Penghasilan sewa dari sewa operasi diakui secara income from operating leases is recognized on a
garis lurus selama masa sewa yang relevan. Biaya straight-line basis over the terms of the relevant lease.
langsung awal yang dikeluarkan untuk melakukan Initial direct costs incurred in negotiating and arranging
negosiasi dan pengaturan sewa operasi ditambahkan an operating lease are added to the carrying amount of
ke nilai tercatat dari aset sewaan dan diakui selama the leased asset and recognised over the lease term
masa sewa dengan dasar yang sama dengan on the same basis as rental income. Contingent rents
pendapatan sewa. Sewa kontinjen diakui sebagai are recognised as revenue in the period in which they
pendapatan pada periode perolehan. are earned.
o. Properti investasi o. Investment properties
Properti yang dimiliki untuk disewakan dalam jangka Property that is held for long-term rental yield or for
panjang atau untuk kenaikan harga atau keduanya, capital appreciation or both, and that is not occupied by
dan yang tidak ditempati oleh entitas-entitas dalam the entities within the Group, is classified as investment
Grup, diklasifikasikan sebagai properti investasi. property. Investment property also includes property
Properti investasi juga mencakup properti yang that is being constructed or developed for future use as
sedang dikonstruksi atau dikembangkan untuk an investment property.
digunakan sebagai properti investasi di masa depan.
Properti investasi awalnya diukur berdasarkan Investment property is measured initially at its cost,
biayanya, termasuk biaya transaksi yang terkait dan including related transaction costs and where
biaya pinjaman yang berlaku. applicable borrowing costs.
Setelah pengakuan awal, properti investasi dicatat After initial recognition, investment property is carried
sebesar nilai wajarnya. Properti investasi yang at fair value. Investment property that is being
sedang dalam pengembangan ulang untuk redeveloped for continuing use as an investment
penggunaan lebih lanjut sebagai properti investasi property or for which the market has become less
atau ketika pasar menjadi kurang aktif tetap dicatat active continues to be measured at fair value.
sebesar nilai wajarnya. Properti investasi dalam Investment property under construction is measured at
konstruksi diukur menggunakan nilai wajar jika nilai fair value if the fair value is considered to be reliably
wajar dianggap dapat diukur secara andal. Properti determinable. Investment properties under construction
investasi dalam konstruksi yang nilai wajarnya tidak for which the fair value cannot be determined reliably,
dapat diukur secara andal, tetapi Perusahaan but for which the Company expects that the fair value
mengharapkan nilai wajarnya dapat diukur secara of the property will be reliably determinable when
andal ketika konstruksi selesai, diukur senilai biaya construction is completed, are measured at cost less
dikurangi penurunan nilai sampai nilai wajarnya dapat impairment until the fair value becomes reliably
diukur secara andal atau konstruksi diselesaikan - determinable or construction is completed - whichever
yang mana yang lebih awal. is earlier.
Properti investasi Grup terdiri dari: Investment properties of the Group consist of the
following:
(i) Tanah (i) Land
Merupakan tanah yang belum ditentukan tujuan Represents land that its intended use has not
penggunaannya dan tidak untuk digunakan been determined yet and is not for use in the
dalam produksi atau penyediaan barang atau production or supply of goods or services or for
jasa untuk tujuan administratif atau dijual dalam administrative purposes or sale in the ordinary
kegiatan usaha sehari-hari. course of business.
(ii) Bangunan (ii) Building
Merupakan gedung perkantoran yang Represents office buildings rented to other
disewakan kepada pihak lain. parties.
32
Page 243
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
o. Properti investasi (lanjutan) o. Investment properties (continued)
Nilai wajar didasarkan kepada harga pasar aktif, Fair value is based on active market prices, adjusted, if
disesuaikan, jika perlu, dengan perbedaan alam, necessary, for differences in the nature, location or
lokasi atau kondisi dari aset tersebut. Jika informasi condition of the specific asset. If this information is not
tersebut tidak tersedia, Grup menggunakan metode available, the Group uses alternative valuation
penilaian alternatif, seperti harga terbaru di pasar methods, such as recent prices on less active markets
yang kurang aktif atau proyeksi arus kas yang or discounted cash flow projections. Valuations are
didiskontokan. Penilaian dilakukan pada tanggal performed as of the financial position date by
neraca oleh penilai ahli dengan kualifikasi yang diakui professional valuers who hold recognised and relevant
dan relevan dan memiliki pengalaman terbaru atas professional qualifications and have recent experience
lokasi dan kategori dari properti investasi dinilai. in the location and category of the investment property
Penilaian ini membentuk dasar untuk nilai tercatat being valued. These valuations form the basis for the
pada laporan keuangan konsolidasian. Perubahan carrying amounts in the consolidated financial
nilai wajar diakui di laba rugi sebagai bagian dari statements. Changes in the fair value are recognised in
“Penghasilan (beban) lain-lain - neto”. profit or loss as part of “Other income (expenses) -
net”.
Properti investasi dihentikan pengakuannya baik saat Investment properties are derecognised either when
dilepas atau ketika tidak digunakan lagi secara they have been disposed of or when they are
permanen dan tidak memiliki manfaat ekonomis permanently withdrawn from use and no future
masa depan yang diharapkan dari pelepasannya. economic benefit is expected from their disposal. The
Selisih antara hasil neto pelepasan dan nilai tercatat difference between the net disposal proceeds and the
aset diakui dalam laba rugi pada periode terjadinya carrying amount of the asset is recognised in profit or
penghentian pengakuan. loss in the period of derecognition.
Pengalihan dilakukan ke (atau dari) properti investasi Transfers are made to (or from) investment property
hanya jika terdapat perubahan penggunaan. Untuk only when there is a change in use. For a transfer from
pengalihan dari properti investasi ke properti yang investment property to owner-occupied property, the
digunakan sendiri, biaya yang dianggap untuk deemed cost for subsequent accounting is the fair
akuntansi selanjutnya adalah nilai wajar pada tanggal value at the date of change in use. If an owner-
perubahan penggunaan. Jika properti yang occupied property becomes an investment property,
digunakan sendiri menjadi properti investasi, Grup the Group accounts for such property in accordance
memperhitungkan properti tersebut sesuai dengan with the policy stated under fixed assets up to the date
kebijakan yang tercantum dalam aset tetap sampai of change in use.
dengan tanggal perubahan yang digunakan.
p. Aset takberwujud p. Intangible assets
Biaya yang terkait dengan pemeliharaan program Costs associated with maintaining computer software
piranti lunak komputer diakui sebagai beban pada programs are recognised as an expense as incurred.
saat terjadinya. Biaya pengembangan yang dapat Development costs that are directly attributable to the
secara langsung diatribusikan kepada desain dan design and testing of identifiable and unique software
pengujian produk piranti lunak yang dapat products controlled by the Group are recognised as
diidentifikasi dan unik yang dikendalikan oleh Grup intangible assets. Computer software development
diakui sebagai aset takberwujud. Biaya costs recognised as assets are amortised over their
pengembangan piranti lunak komputer diakui sebagai estimated useful lives.
aset yang diamortisasi selama estimasi masa
manfaat.
q. Penurunan nilai aset non-keuangan q. Impairment of non-financial assets
Pada setiap akhir periode pelaporan, Grup menilai The Group assesses at each reporting period whether
apakah terdapat indikasi suatu aset mengalami there is an indication that an asset may be impaired. If
penurunan nilai. Jika terdapat indikasi tersebut atau any such indication exists, or when annual impairment
pada saat pengujian penurunan nilai aset diperlukan testing for an asset is required (i.e. an intangible asset
(yaitu aset takberwujud dengan umur manfaat tidak with an indefinite useful life, an intangible asset not yet
terbatas, aset takberwujud yang belum dapat available for use, or goodwill acquired in a business
digunakan, atau goodwill yang diperoleh dalam suatu combination), the Group makes an estimate of the
kombinasi bisnis), maka Grup membuat estimasi asset’s recoverable amount.
jumlah terpulihkan aset tersebut.
33
Page 244
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
q. Penurunan nilai aset non-keuangan (lanjutan) q. Impairment of non-financial assets (continued)
Jumlah terpulihkan yang ditentukan untuk aset An asset’s recoverable amount is the higher of the
individual adalah jumlah yang lebih tinggi antara nilai asset’s or its cash-generating unit’s fair value less
wajar aset atau unit penghasil kas dikurangi biaya costs to sell and its value in use, and is determined for
untuk menjual dengan nilai pakainya, kecuali aset an individual asset, unless the asset does not generate
tersebut tidak menghasilkan arus kas masuk yang cash inflows that are largely independent of those from
sebagian besar independen dari aset atau kelompok other assets or groups of assets. Where the carrying
aset lain. Jika nilai tercatat aset lebih besar daripada amount of an asset exceeds its recoverable amount,
nilai terpulihkannya, maka aset tersebut mengalami the asset is considered impaired and is written down to
penurunan nilai dan nilai tercatat aset diturunkan its recoverable amount and an impairment loss is
menjadi sebesar nilai terpulihkannya dan rugi recognized immediately in profit or loss, unless the
penurunan nilai segera diakui dalam laba rugi, kecuali relevant asset is carried at revalued amount, in which
aset tersebut disajikan pada jumlah revaluasian, di the impairment loss is treated as a revaluation
mana kerugian penurunan nilai diperlakukan sebagai decrease.
penurunan revaluasi.
Dalam menghitung nilai pakai, estimasi arus kas In assessing the value in use, the estimated net future
masa depan neto didiskontokan ke nilai kini dengan cash flows are discounted to their present value using
menggunakan tingkat diskonto sebelum pajak yang a pre-tax discount rate that reflects current market
menggambarkan penilaian pasar terkini atas nilai assessments of the time value of money and the risks
waktu dari uang dan risiko spesifik dari aset. Dalam specific to the asset. In determining fair value less
menentukan nilai wajar dikurangi biaya untuk costs to sell, recent market transactions are taken into
menjual, digunakan harga penawaran pasar terakhir, account, if available. If no such transactions can be
jika tersedia. Jika tidak terdapat transaksi tersebut, identified, an appropriate valuation model is used to
Grup menggunakan model penilaian yang sesuai determine the fair value of the assets. These
untuk menentukan nilai wajar aset. Perhitungan- calculations are corroborated by valuation multiples or
perhitungan ini dikuatkan oleh penilaian berganda other available fair value indicators.
atau indikasi nilai wajar yang tersedia.
Penilaian dilakukan pada akhir setiap periode An assessment is made at each annual reporting
pelaporan tahunan apakah terdapat indikasi bahwa period as to whether there is any indication that
rugi penurunan nilai yang telah diakui dalam periode previously recognized impairment losses recognized
sebelumnya untuk aset selain goodwill mungkin tidak for an asset other than goodwill may no longer exist or
ada lagi atau mungkin telah menurun. Jika indikasi may have decreased. If such indication exists, the
dimaksud ditemukan, maka entitas mengestimasi recoverable amount is estimated.
jumlah terpulihkan aset tersebut.
Kerugian penurunan nilai yang telah diakui dalam A previously recognized impairment loss for an asset
periode sebelumnya untuk aset selain goodwill dibalik other than goodwill is reversed only if there has been a
hanya jika terdapat perubahan asumsi-asumsi yang change in the assumptions used to determine the
digunakan untuk menentukan jumlah terpulihkan aset asset’s recoverable amount since the last impairment
tersebut sejak rugi penurunan nilai terakhir diakui. loss was recognized. If that is the case, the carrying
Dalam hal ini, jumlah tercatat aset dinaikkan ke amount of the asset is increased to its recoverable
jumlah terpulihkannya. Pembalikan tersebut dibatasi amount. The reversal is limited so that the carrying
sehingga jumlah tercatat aset tidak melebihi jumlah amount of the asset does not exceed its recoverable
terpulihkannya maupun jumlah tercatat, neto setelah amount, nor exceeds the carrying amount that would
penyusutan, seandainya tidak ada rugi penurunan have been determined, net of depreciation, had no
nilai yang telah diakui untuk aset tersebut pada tahun impairment loss been recognized for the asset in prior
sebelumnya. Pembalikan rugi penurunan nilai diakui years. Reversal of an impairment loss is recognized in
dalam laporan laba rugi dan penghasilan the consolidated statement of profit or loss and other
komprehensif lain konsolidasian, kecuali aset yang comprehensive income, unless the relevant asset is
bersangkutan disajikan pada jumlah revaluasian, carried at a revalued amount, in which case the
dalam hal ini pembalikan kerugian penurunan nilai reversal of the impairment loss is treated as a
diperlakukan sebagai kenaikan revaluasi. Setelah revaluation increase. After such a reversal, the
pembalikan tersebut, penyusutan aset tersebut depreciation charge on the said asset is adjusted in
disesuaikan di periode mendatang untuk future periods to allocate the asset’s revised carrying
mengalokasikan jumlah tercatat aset yang direvisi, amount, less any residual value, on a systematic basis
dikurangi nilai sisanya, dengan dasar yang sistematis over its remaining useful life.
selama sisa umur manfaatnya.
34
Page 245
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
r. Utang usaha dan utang lain-lain r. Trade and other payables
Utang usaha adalah kewajiban membayar barang Trade payables are obligations to pay for goods or
atau jasa yang telah diterima dalam kegiatan usaha services that have been acquired in the ordinary
biasa dari pemasok. Utang lain-lain merupakan saldo course of business from suppliers. Other payables are
utang yang timbul dari transaksi di luar kegiatan payables arising from transactions outside of the
usaha biasa. ordinary course of business.
Utang usaha dan utang lain-lain diklasifikasikan Trade and other payables are classified as current
sebagai liabilitas jangka pendek jika pembayarannya liabilities if payment is due within one year or less (or in
jatuh tempo dalam waktu satu tahun atau kurang the normal operating cycle of the business if longer). If
(atau dalam siklus operasi normal jika lebih panjang). not, they are presented as non-current liabilities.
Jika tidak, utang tersebut disajikan sebagai liabilitas
jangka panjang.
Utang usaha dan utang lain-lain pada awalnya diakui Trade and other payables are recognised initially at fair
sebesar nilai wajar dan selanjutnya diukur pada biaya value and subsequently measured at amortised cost
perolehan yang diamortisasi dengan menggunakan using the EIR method.
metode EIR.
s. Imbalan kerja s. Employee benefits
Imbalan kerja jangka pendek Short-term employee benefits
Imbalan kerja jangka pendek adalah imbalan kerja Short-term employee benefits are employee benefits
yang jatuh tempo dalam jangka waktu dua belas which are due for payment within twelve months after
bulan setelah akhir periode pelaporan dan diakui the reporting period and recognized when the
pada saat pekerja telah memberikan jasa kerjanya. employees have rendered this related service.
Kewajiban diakui ketika karyawan memberikan jasa Liabilities are recognized when the employee renders
kepada Grup dimana semua perubahan pada nilai services to the Group where all changes in the carrying
bawaan dari kewajiban diakui pada laba rugi. amount of the liability are recognized in profit or loss.
Imbalan pascakerja program imbalan pasti Defined benefit plan
Grup mengakui kewajiban imbalan kerja yang tidak The Group recognized unfunded employee benefits
didanai sesuai dengan Peraturan Pemerintah liability in accordance with Government Regulation in
Pengganti Undang-Undang (Perppu) No. 2 tahun Lieu of Law (“Perppu”) No. 2 of 2022 on Job Creation
2022 tentang Cipta Kerja yang kemudian disahkan which was later passed into Law No. 6 in 2023.
menjadi Undang-Undang No. 6 tahun 2023. Beban Pension costs under the Group’s defined benefit
pensiun berdasarkan program dana pensiun manfaat pension plans are determined by periodic actuarial
pasti Grup ditentukan melalui perhitungan aktuaria calculation using the projected-unit-credit method and
secara periodik dengan menggunakan metode applying the assumptions on discount rate and annual
projected-unit credit dan menerapkan asumsi atas rate of increase in compensation.
tingkat diskonto dan tingkat kenaikan manfaat pasti
pensiun tahunan.
Pengukuran kembali, terdiri dari keuntungan dan Remeasurement, comprising actuarial gains and
kerugian aktuarial, dampak perubahan pada batas losses, the effect of the changes to the asset ceiling (if
atas aset (jika ada) dan imbal hasil atas aset program applicable) and the return on plan assets (excluding
(tidak termasuk bunga), yang tercermin langsung interest), is reflected immediately in the consolidated
dalam laporan posisi keuangan konsolidasian yang statement of financial position with a charge or credit
dibebankan atau dikreditkan diakui dalam recognized in other comprehensive income in the
penghasilan komprehensif lain pada periode period in which they occur in order for the net pension
terjadinya untuk mencerminkan aset atau liabilitas asset or liability recognized in the consolidated
pensiun neto yang diakui pada laporan keuangan statement of financial position to reflect the full value of
konsolidasian untuk mencerminkan nilai penuh dari the plan deficit and surplus. Remeasurement
defisit dan surplus program. Pengukuran kembali recognized in other comprehensive income is reflected
diakui sebagai pos terpisah pada penghasilan immediately as a separate item under other
komprehensif lain di ekuitas dan tidak akan comprehensive income in equity and will not be
direklasifikasi ke laba rugi. reclassified to profit or loss.
35
Page 246
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
s. Imbalan kerja (lanjutan) s. Employee benefits (continued)
Imbalan pascakerja program imbalan pasti (lanjutan) Defined benefit plan (continued)
Biaya jasa lalu diakui dalam laba rugi ketika terjadi Past service cost is recognized in profit or loss when
amendemen program atau kurtailmen, atau ketika the plan amendment or curtailment occurs, or when the
Grup mengakui biaya restrukturisasi terkait atau Group recognizes related restructuring costs or
pesangon, jika lebih dahulu. termination benefits, if earlier.
Bunga neto dihitung dengan menggunakan tingkat Net interest is calculated by applying the discount rate
diskonto terhadap liabilitas atau aset imbalan pasti to the net defined benefit liability or asset. Defined
neto. Biaya imbalan pasti dikategorikan sebagai benefit costs are categorized as follows:
berikut:
• Biaya jasa (termasuk biaya jasa kini, biaya jasa • Service cost (including current service cost, past
lalu serta keuntungan dan kerugian kurtailmen service cost, as well as gains and losses on
dan penyelesaian) curtailments and settlements)
• Beban atau pendapatan bunga neto • Net interest expense or income
• Pengukuran kembali • Remeasurement
Grup menyajikan dua komponen pertama dari biaya The Group presents the first two components of
imbalan pasti di laba rugi. Keuntungan dan kerugian defined benefit costs in profit or loss. Curtailment gains
kurtailmen dicatat sebagai biaya jasa lalu. and losses are accounted for as past service costs.
t. Akrual dan provisi t. Accruals and provisions
Akrual dan provisi diakui jika Grup memiliki liabilitas Accruals and provisions are recognised when the
kini (baik bersifat hukum maupun bersifat konstruktif) Group has a present obligation (legal or constructive)
yang akibat peristiwa masa lalu, besar where, as a result of a past event, it is probable that an
kemungkinannya penyelesaian liabilitas tersebut outflow of resources embodying economic benefits will
mengakibatkan arus keluar sumber daya yang be required to settle the obligation and a reliable
mengandung manfaat ekonomi dan estimasi yang estimate can be made of the amount of the obligation.
andal mengenai jumlah kewajiban tersebut dapat Accruals and provisions are not recognised for future
dibuat. Akrual dan provisi tidak diakui untuk kerugian operating losses.
operasi di masa mendatang.
Akrual dan provisi diukur sebesar nilai kini dari Accruals and provisions are measured at the present
estimasi terbaik manajemen atas pengeluaran yang value of management’s best estimate of the
diperlukan untuk menyelesaikan kewajiban kini pada expenditure required to settle the present obligation at
akhir periode pelaporan. Tingkat diskonto yang the end of the reporting period. The discount rate used
digunakan untuk menentukan nilai kini adalah tingkat to determine the present value is a pretax rate that
diskonto sebelum pajak yang mencerminkan reflects current market assessments of the time value
penilaian pasar atas nilai waktu uang dan risiko yang of money and the risks specific to the liability. The
terkait dengan kewajiban. Peningkatan provisi karena increase in the provision due to the passage of time is
berjalannya waktu diakui sebagai beban bunga. recognised as interest expense.
Akrual dan provisi direviu pada setiap tanggal Accruals and provisions are reviewed at each reporting
pelaporan dan disesuaikan untuk mencerminkan date and adjusted to reflect the current best estimate. If
estimasi kini terbaik. Jika tidak terdapat kemungkinan it is no longer probable that an outflow of resources
arus kas keluar sumber daya yang mengandung embodying economic benefits will be required to settle
manfaat ekonomi untuk menyelesaikan liabilitas the obligation, the provision is reversed.
tersebut, provisi tersebut dibalik.
36
Page 247
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
u. Pinjaman u. Borrowings
Pinjaman diakui pada awalnya sebesar nilai wajar, Borrowings are recognised initially at fair value, net of
dikurangi dengan biaya transaksi yang terjadi. transaction costs incurred. Borrowings are
Pinjaman kemudian dicatat sebesar biaya perolehan subsequently carried at amortised cost; any difference
yang diamortisasi; selisih antara hasil perolehan between the proceeds (net of transaction costs) and
(dikurangi dengan biaya transaksi) dan nilai the redemption value is recognised in profit or loss over
penarikan diakui dalam laba rugi selama periode the period of the borrowing, using the EIR method.
pinjaman dengan menggunakan metode EIR.
Biaya yang dibayarkan untuk pembukaan fasilitas Fees paid on the establishment of loan facilities are
pinjaman diakui sebagai biaya transaksi pinjaman recognised as transaction costs of the loan to the
sepanjang besar kemungkinan sebagian atau seluruh extent that it is probable that some or all of the facility
fasilitas akan ditarik. Dalam hal ini, biaya tersebut will be drawn down. In this case, the fee is deferred
ditangguhkan sampai penarikan terjadi. Sejauh tidak until the draw-down occurs. To the extent that there is
ada bukti bahwa ada kemungkinan sebagian atau no evidence that it is probable that some or all of the
seluruh fasilitas akan ditarik, biaya tersebut facility will be drawn down, the fee is capitalised as a
dikapitalisasi sebagai pembayaran di muka untuk pre-payment for liquidity services and amortised over
layanan likuiditas dan diamortisasi selama periode the period of the facility to which it relates.
fasilitas yang terkait.
Pinjaman diklasifikasikan sebagai liabilitas jangka Borrowings are classified as current liabilities unless
pendek kecuali Grup memiliki hak tanpa syarat untuk the Group has an unconditional right to defer the
menunda pembayaran liabilitas selama paling tidak settlement of the liability for at least 12 months after the
12 bulan setelah tanggal pelaporan. reporting date.
v. Pengakuan pendapatan dan beban v. Revenue and expense recognition
Pendapatan diukur berdasarkan imbalan yang Grup Revenue is measured based on the consideration to
perkirakan menjadi haknya dalam kontrak dengan which the Group expects to be entitled in a contract
pelanggan dan tidak termasuk jumlah yang ditagih with a customer and excludes amounts collected on
atas nama pihak ketiga. Grup mengakui pendapatan behalf of third parties. The Group recognizes revenue
ketika mengalihkan pengendalian barang atau jasa when it transfers control of a product or service to a
kepada pelanggan. Grup secara umum customer. The Group has generally concluded that it is
menyimpulkan bahwa Grup adalah prinsipal dalam the principal in its revenue arrangements.
pengaturan pendapatannya.
Penjualan barang Sale of goods
Pendapatan dari penjualan barang diakui pada saat Revenue from sale of goods is recognised at the point
pengendalian aset dialihkan kepada pelanggan, in time when control of the asset is transferred to the
umumnya pada saat penyerahan barang. customer, generally on delivery of the goods.
Grup mempertimbangkan apakah ada janji lain dalam The Group considers whether there are other promises
kontrak yang merupakan kewajiban pelaksanaan in the contract that are separate performance
terpisah yang perlu dialokasikan sebagian dari harga obligations to which a portion of the transaction price
transaksi. Dalam menentukan harga transaksi untuk needs to be allocated. In determining the transaction
penjualan barang, Grup mempertimbangkan price for the sale of goods, the Group considers the
pengaruh dari imbalan variabel. effects of variable consideration.
Pendapatan dari penjualan ini diakui berdasarkan Revenue from these sales is recognised based on the
harga jual dikurangi diskon, estimasi insentif sales price, net of the discount, estimated sales
penjualan, rabat volume dan biaya pemasaran dan incentives, volume rebates and other marketing and
promosi lainnya, dan tidak termasuk Pajak promotion costs and excludes Value Added Tax
Pertambahan Nilai (“PPN”). (“VAT”).
37
Page 248
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
v. Pengakuan pendapatan dan beban (lanjutan) v. Revenue and expense recognition (continued)
(i) Imbalan variabel (i) Variable consideration
Jika imbalan dalam kontrak mencakup jumlah If the consideration in a contract includes a
variabel, Grup mengestimasi jumlah imbalan variable amount, the Group estimates the amount
yang menjadi haknya sebagai imbalan atas of consideration to which it will be entitled in
pengalihan barang kepada pelanggan. Imbalan exchange for transferring the goods to the
variabel diestimasi pada awal kontrak dan customer. The variable consideration is estimated
dibatasi hingga kemungkinan besar bahwa at contract inception and constrained until it is
pembalikan pendapatan yang material dalam highly probable that a material revenue reversal in
jumlah pendapatan kumulatif yang diakui tidak the amount of cumulative revenue recognised will
akan terjadi ketika ketidakpastian terkait dengan not occur when the associated uncertainty with
imbalan variabel kemudian diselesaikan. the variable consideration is subsequently
resolved.
Beberapa kontrak untuk penjualan barang Some contracts for the sale of goods provide
memberi hak retur dan rabat volume kepada customers with a right of return and volume
pelanggan. Hak retur dan rabat volume rebates. The rights of return and volume rebates
menimbulkan imbalan variabel. give rise to variable consideration.
- Hak retur - Rights of return
Kontrak tertentu memberi pelanggan hak Certain contracts provide a customer with the
untuk mengembalikan barang dalam right to return the goods within a specified
jangka waktu tertentu. period.
Grup menggunakan metode nilai yang The Group uses the expected value method
diharapkan untuk mengestimasi barang to estimate the goods that will not be returned
yang tidak akan dikembalikan karena because this method best predicts the amount
metode ini paling baik memprediksi jumlah of variable consideration to which the Group
imbalan variabel yang menjadi hak Grup. will be entitled. The requirements in PSAK
Ketentuan dalam PSAK 115 tentang 115 on constraining estimates of variable
estimasi batasan atas imbalan variabel consideration are also applied in order to
juga diterapkan untuk menentukan jumlah determine the amount of variable
imbalan variabel yang dapat dimasukkan consideration that can be included in the
ke dalam harga transaksi. transaction price.
Pada setiap akhir periode pelaporan, Grup At each reporting period, the Group estimates
mengestimasi barang yang diharapkan the goods that are expected to be returned
akan dikembalikan dan mengakui provisi and recognises a provision for sales return as
retur penjualan sebagai liabilitas kontrak a contract liability and the right of return asset
beserta hak retur aset (untuk penyesuaian (for the corresponding cost of goods sold of
beban pokok penjualan atas provisi retur the provision for sales return) as a contract
penjualan tersebut) sebagai aset kontrak. asset.
- Rabat volume - Volume rebate
Kontrak tertentu dengan pelanggan Certain contracts customers provide volume
memberikan rabat volume berdasarkan rebate based on the sales achievement
pencapaian penjualan selama periode during the rebate programme period. The
program rabat. Grup mengakui liabilitas Group has recognised contract liability related
kontrak terkait dengan rabat volume ini to this volume rebate as part of accrual
sebagai bagian dari beban akrual marketing and promotion in the consolidated
pemasaran dan promosi pada laporan statement of financial position.
posisi keuangan konsolidasian.
38
Page 249
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
v. Pengakuan pendapatan dan beban (lanjutan) v. Revenue and expense recognition (continued)
Program loyalitas pelanggan Customer loyalty programme
Grup memiliki program poin loyalitas yang The Group has a loyalty points programme that allows
memungkinkan pelanggan mengumpulkan poin yang customers to accumulate points that can be redeemed
dapat ditukarkan dengan barang gratis. Poin loyalitas for free goods. The loyalty points give rise to a
menimbulkan kewajiban pelaksanaan terpisah karena separate performance obligation as they provide a
memberikan hak material kepada pelanggan. material right to the customer. A portion of the
Sebagian dari harga transaksi dialokasikan ke poin transaction price is allocated to the loyalty points
loyalitas yang diberikan kepada pelanggan awarded to customers based on relative stand-alone
berdasarkan harga jual berdiri sendiri dan diakui selling price and recognised as a contract liability until
sebagai liabilitas kontrak sampai poin tersebut the points are redeemed. The contract liability is
ditukarkan. Liabilitas kontrak tersebut disajikan presented as part of “Accrued expenses” in the
sebagai bagian dari “Beban akrual” dalam laporan consolidated statements of financial position. Revenue
posisi keuangan konsolidasian. Pendapatan diakui is recognised upon redemption of products by the
pada saat penukaran produk oleh pelanggan. customer.
Ketika pihak lain terlibat dalam penyediaan barang When another party is involved in providing
gratis kepada pelanggannya, Grup menentukan promotional free goods to its customer, the Group
apakah ia adalah prinsipal atau agen dalam transaksi determines whether it is a principal or an agent in these
ini dengan mengevaluasi sifat dari janjinya kepada transactions by evaluating the nature of its promise to
pelanggan. Grup sepenuhnya bertanggung jawab the customer. The Group is primarily responsible for
untuk memenuhi janji atas pemberian barang gratis fulfilling the promise to provide free goods to eligible
kepada pelanggan yang memenuhi syarat. Grup customers. The Group determined that they control the
menetapkan bahwa Grup mengendalikan barang free goods before they are transferred to customers
gratis sebelum ditransfer ke pelanggan dan memiliki and have the ability to direct the use of the free goods.
kemampuan untuk mengarahkan penggunaan barang Therefore, the Group concluded that it is the principal
gratis tersebut. Oleh karena itu, Grup menyimpulkan in this arrangement. Upon redemption of loyalty points
bahwa Grup adalah prinsipal dalam pengaturan ini. by the customer, the Group records the cost of
Pada saat penukaran poin loyalitas oleh pelanggan, promotional free goods as part of the cost of goods
Grup mencatat biaya barang gratis sebagai bagian sold in the consolidated statement of profit or loss and
dari harga pokok penjualan dalam laporan laba rugi other comprehensive income.
dan penghasilan komprehensif lain konsolidasian.
Beban Expenses
Biaya dan beban diakui dalam laba rugi dalam Cost and expenses are recognised in profit or loss in
periode saat terjadinya menggunakan dasar akrual. the period when incurred on an accrual basis.
w. Pajak penghasilan w. Income tax
Beban pajak terdiri dari pajak kini dan tangguhan. Income tax expense comprises current and deferred
Beban pajak diakui dalam laporan laba rugi kecuali tax. Income tax expense is recognized in profit or loss
untuk transaksi yang berhubungan dengan transaksi except to the extent that it relates to items recognized
diakui diluar laba atau rugi, baik dalam penghasilan outside profit or loss, either in other comprehensive
komprehensif lain atau langsung pada ekuitas atau income or directly in equity or business combinations.
kombinasi bisnis.
Pajak kini Current tax
Beban pajak kini dihitung dengan menggunakan tarif Current tax expense is calculated using tax rates that
pajak yang berlaku pada tanggal pelaporan have been enacted or substantively enacted at end of
keuangan, dan ditetapkan berdasarkan taksiran laba the reporting period, and is provided based on the
kena pajak tahun berjalan. Manajemen secara estimated taxable income for the year. Management
periodik mengevaluasi posisi yang dilaporkan di Surat periodically evaluates positions taken in tax returns
Pemberitahuan Tahunan (SPT) sehubungan dengan with respect to situations in which applicable tax
situasi di mana aturan pajak yang berlaku regulation is subject to interpretation. It establishes
membutuhkan interpretasi. Jika perlu, manajemen provision where appropriate on the basis of amounts
menentukan provisi berdasarkan jumlah yang expected to be paid to the tax authorities.
diharapkan akan dibayar kepada otoritas pajak.
39
Page 250
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
w. Pajak penghasilan (lanjutan) w. Income tax (continued)
Pajak kini (lanjutan) Current tax (continued)
Kekurangan atau kelebihan pembayaran pajak Underpayment or overpayment of corporate income tax
penghasilan badan dicatat sebagai bagian dari beban are presented as part of income tax expense in the
pajak dalam laporan laba rugi dan penghasilan consolidated statement of profit or loss and other
komprehensif lain konsolidasian. comprehensive income.
Bunga dan denda yang timbul dari ketetapan pajak Interests and penalties arising from tax assessments
dan kurang bayar atau lebih bayar pajak lainnya and underpayment or overpayment of other taxes are
disajikan sebagai bagian dari penghasilan atau beban presented as part of other operating income or
operasi lain karena tidak dianggap sebagai bagian expenses since they are not considered as part of the
dari beban pajak penghasilan. income tax expense.
Koreksi terhadap liabilitas perpajakan diakui pada Amendments to tax obligations are recorded when a
saat surat ketetapan pajak diterima. Jika Grup tax assessment letter is received. If the Group files an
mengajukan keberatan, Grup mempertimbangkan appeal, the Group considers whether it is probable that
apakah besar kemungkinan otoritas pajak akan a taxation authority will accept the appeal and reflect its
menerima keberatan tersebut dan merefleksikan effect on the Group’s tax obligations.
dampaknya terhadap liabilitas perpajakan Grup.
Pajak tangguhan Deferred tax
Pajak tangguhan diukur dengan metode liabilitas atas Deferred tax is provided using the liability method on
beda waktu pada tanggal pelaporan antara dasar temporary differences at the reporting date between
pengenaan pajak untuk aset dan liabilitas dengan the tax bases of assets and liabilities and their carrying
nilai tercatatnya untuk tujuan pelaporan keuangan. amounts for financial reporting purposes. Deferred tax
Liabilitas pajak tangguhan diakui untuk semua liabilities are recognized for all taxable temporary
perbedaan temporer kena pajak dengan beberapa differences with certain exceptions. Deferred tax assets
pengecualian. Aset pajak tangguhan diakui untuk are recognized for deductible temporary differences
perbedaan temporer yang dapat dikurangkan dan and tax losses carry-forward to the extent that it is
rugi fiskal apabila terdapat kemungkinan besar probable that taxable income will be available in future
bahwa jumlah laba kena pajak pada masa years against which the deductible temporary
mendatang akan memadai untuk mengkompensasi differences and tax losses carry-forward can be
perbedaan temporer dan rugi fiskal. Aset dan liabilitas utilized. Such deferred tax assets and liabilities are not
pajak tangguhan tidak diakui jika perbedaan temporer recognized if the temporary differences arise from the
timbul dari pengakuan awal (selain dari kombinasi initial recognition (other than in a business combination
bisnis atau transaksi yang tidak menimbulkan or transactions that give rise to equal taxable and
perbedaan temporer kena pajak dan perbedaan deductible temporary differences) of assets and
temporer dapat dikurangkan dalam jumlah yang liabilities in a transaction that affects neither the taxable
sama) dari aset dan liabilitas suatu transaksi yang profit nor the accounting profit. In addition, deferred tax
tidak memengaruhi laba kena pajak atau laba liabilities are not recognized if the temporary
akuntansi. Selain itu, liabilitas pajak tangguhan tidak differences arises from the initial recognition of
diakui jika perbedaan temporer timbul dari pengakuan goodwill.
awal goodwill.
Aset dan liabilitas pajak tangguhan dihitung Deferred tax assets and liabilities are measured at the
berdasarkan tarif yang akan dikenakan pada periode tax rates that are expected to apply to the period when
saat aset direalisasikan atau liabilitas tersebut the asset is realized or the liability is settled, based on
diselesaikan, berdasarkan undang-undang pajak tax laws that have been enacted or substantively
yang berlaku atau berlaku secara substantif pada enacted at the end of reporting period. The related tax
akhir periode laporan keuangan. Pengaruh pajak effects of the provisions for and/or reversals of all
terkait dengan penyisihan dan/atau pemulihan semua temporary differences during the year, including the
perbedaan temporer selama tahun berjalan, termasuk effect of change in tax rates, are credited or charged to
pengaruh perubahan tarif pajak, dikreditkan atau current period operations, except to the extent that they
dibebankan pada periode operasi berjalan, untuk relate to items previously charged or credited to other
transaksi-transaksi yang sebelumnya telah comprehensive income or directly in equity.
dibebankan atau dikreditkan ke penghasilan
komprehensif lain atau langsung ke ekuitas.
40
Page 251
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
w. Pajak penghasilan (lanjutan) w. Income tax (continued)
Pajak tangguhan (lanjutan) Deferred tax (continued)
Jumlah tercatat aset pajak tangguhan dikaji ulang The carrying amount of a deferred tax asset is
pada setiap akhir periode pelaporan, dan mengurangi reviewed at the end of each reporting period and
jumlah tercatat jika kemungkinan besar laba kena reduced to the extent that it is no longer probable that
pajak tidak lagi tersedia dalam jumlah yang memadai sufficient taxable income will be available to allow all or
untuk mengkompensasi sebagian atau seluruh aset part of the benefit of that deferred tax asset to be
pajak tangguhan. Aset pajak tangguhan yang belum utilized. Unrecognized deferred tax assets are
diakui dinilai kembali pada setiap akhir periode reassessed at each reporting date and are recognized
pelaporan dan diakui sepanjang kemungkinan besar to the extent that it has become probable that future
laba kena pajak mendatang akan memungkinkan taxable income will allow the deferred tax assets to be
aset pajak tangguhan tersedia untuk dipulihkan. recovered.
Aset dan liabilitas pajak tangguhan disajikan secara Deferred tax assets and liabilities are offset when a
saling hapus saat hak yang dapat dipaksakan secara legally enforceable right exists to offset current tax
hukum ada untuk saling hapus aset pajak kini dan assets against current tax liabilities, and the deferred
liabilitas pajak kini, dan aset pajak tangguhan dan tax assets and the deferred tax liabilities relate to the
liabilitas pajak tangguhan berkaitan dengan entitas same taxable entity, or the Group intends to settle its
kena pajak yang sama, atau Grup bermaksud untuk current tax liabilities and assets on a net basis, or to
menyelesaikan liabilitas dan aset pajak kini dengan realise the assets and settle the liabilities
dasar neto, atau merealisasikan aset dan simultaneously, in each future period in which
menyelesaikan liabilitas secara bersamaan, pada significant amounts of deferred tax liabilities or assets
setiap periode masa depan di mana jumlah signifikan are expected to be settled or recovered.
atas liabilitas atau aset pajak tangguhan diharapkan
untuk diselesaikan atau dipulihkan.
Pajak Pertambahan Nilai Value Added Tax
Pendapatan, beban-beban dan aset-aset diakui neto Revenue, expenses and assets are recognized net of
atas jumlah Pajak Pertambahan Nilai (“PPN”) kecuali: the amount of Value Added Tax (“VAT”) except:
• PPN yang muncul dari pembelian aset atau jasa • Where the VAT incurred on a purchase of assets
yang tidak dapat dikreditkan oleh kantor pajak, or services is not recoverable from the taxation
yang dalam hal ini PPN diakui sebagai bagian authority, in which case the VAT is recognized as
dari biaya perolehan aset atau sebagai bagian part of the cost of acquisition of the asset or as
dari item beban-beban yang diterapkan; dan part of the expense of the asset or as part of the
expense item as applicable; and
• Piutang dan utang yang disajikan termasuk • Receivables and payables that are stated with the
dengan jumlah PPN. amount of VAT included.
Jumlah PPN Neto yang terpulihkan dari, atau The net amount of VAT recoverable from, or payable
terutang kepada, kantor pajak termasuk sebagai to, the taxation authorities is included as part of
bagian dari piutang atau utang pada laporan posisi receivables or payables in the consolidated statements
keuangan konsolidasian. of financial position.
x. Modal saham x. Share capital
Saham biasa diklasifikasikan sebagai ekuitas. Biaya Ordinary shares are classified as equity. Incremental
tambahan yang secara langsung dapat diatribusikan costs directly attributable to the issue of new ordinary
kepada penerbitan saham biasa atau opsi disajikan shares or options are shown in equity as a deduction,
pada ekuitas sebagai pengurang penerimaan, setelah net of tax, from the proceeds.
dikurangi pajak.
Biaya yang terjadi sehubungan dengan penerbitan Costs incurred in connection with the Company’s
modal saham Perusahaan kepada publik dikurangkan issuance of share capital to the public were offset
langsung dengan penerimaan dan disajikan sebagai directly with the proceeds and presented as a
pengurang akun tambahan modal disetor dalam deduction to the additional paid-in capital account in
laporan posisi keuangan konsolidasian. the consolidated statements of financial position.
41
Page 252
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
x. Modal saham (lanjutan) x. Share capital (continued)
Ketika entitas Grup membeli modal saham ekuitas Where any Group entity purchases the Company’s
Perusahaan (saham treasuri), imbalan yang dibayar, equity share capital (treasury shares), the
termasuk biaya tambahan yang secara langsung consideration paid, including any directly attributable
dapat diatribusikan (dikurangi pajak penghasilan) incremental costs (net of income taxes) is deducted
dikurangkan dari ekuitas yang diatribusikan kepada from equity attributable to the Company’s equity
pemilik ekuitas Perusahaan sampai saham tersebut holders until the shares are cancelled or reissued.
dibatalkan atau diterbitkan kembali. Ketika saham Where such ordinary shares are subsequently
biasa tersebut selanjutnya diterbitkan kembali, reissued, any consideration received, net of any
imbalan yang diterima, dikurangi biaya tambahan directly attributable incremental transaction costs and
transaksi yang terkait dan dampak pajak penghasilan the related income tax effects, is included in equity
yang terkait dimasukkan pada ekuitas yang dapat attributable to the Company’s equity holders.
diatribusikan kepada pemilik ekuitas Perusahaan.
y. Dividen y. Dividends
Distribusi dividen kepada para pemegang saham Dividend distribution to the Group’s shareholders is
Grup diakui sebagai liabilitas dalam laporan recognised as a liability in the Group’s consolidated
keuangan konsolidasian Grup pada periode dimana financial statements in the period in which the
dividen telah disetujui oleh pemegang saham entitas dividends are approved by the Group’s General
dalam Rapat Umum Pemegang Saham Grup Meeting of Shareholders.
(“RUPS”).
z. Laba per saham z. Earnings per share
Laba per saham dasar dihitung dengan membagi Basic earnings per share are calculated by dividing the
laba bersih yang tersedia bagi pemegang saham profit attributable to the equity holders of the Company
Perusahaan dengan jumlah rata-rata tertimbang by the weighted average number of ordinary shares
saham biasa yang beredar pada periode berjalan. outstanding during the period.
Apabila jumlah saham biasa yang beredar meningkat If the number of ordinary shares outstanding is
tanpa disertai peningkatan sumber daya, maka increased without an increase in resources, the
jumlah saham biasa yang beredar sebelum peristiwa number of ordinary shares outstanding before the
tersebut disesuaikan dengan perubahan proporsional event is adjusted for the proportionate change in the
atas jumlah saham beredar seolah-olah peristiwa number of ordinary shares outstanding as if the event
tersebut terjadi pada permulaan dari periode sajian had occurred at the beginning of the earliest period
paling awal. presented.
aa. Pengukuran nilai wajar aa. Fair value measurement
Grup mengukur pada pengakuan awal instrumen The Group initially measure financial instruments at fair
keuangan, dan aset dan liabilitas yang diakuisisi pada value, and assets and liabilities of the acquirees upon
kombinasi bisnis. Grup juga mengukur jumlah business combinations. The Group also measure
terpulihkan dari Unit Penghasil Kas (“UPK”) tertentu certain recoverable amounts of the Cash Generating
berdasarkan nilai wajar dikurangi biaya pelepasan Unit (“CGU”) using Fair Value Less Cost of Disposal
(Fair Value Less Cost of Disposal atau “FVLCD”). (“FVLCD”).
Nilai wajar adalah harga yang akan diterima dari Fair value is the price that would be received to sell an
menjual suatu aset atau harga yang akan dibayar asset or paid to transfer a liability in an orderly
untuk mengalihkan suatu liabilitas dalam transaksi transaction between market participants at the
teratur antara pelaku pasar pada tanggal measurement date. The fair value measurement is
pengukuran. Pengukuran nilai wajar mengasumsikan based on the presumption that the transaction to sell
bahwa transaksi untuk menjual aset atau the asset or transfer the liability takes place either:
mengalihkan liabilitas terjadi:
i) Di pasar utama untuk aset atau liabilitas tersebut, i) In the principal market for the asset or liability, or
atau
ii) Jika tidak terdapat pasar utama, di pasar yang ii) In the absence of a principal market, in the most
paling menguntungkan untuk aset atau liabilitas advantageous market for the asset or liability.
tersebut.
42
Page 253
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
aa. Pengukuran nilai wajar (lanjutan) aa. Fair value measurement (continued)
Pasar utama atau pasar yang paling menguntungkan The principal or the most advantageous market must
tersebut harus dapat diakses oleh Grup. be accessible to by the Group.
Nilai wajar dari aset atau liabilitas diukur dengan The fair value of an asset or a liability is measured
menggunakan asumsi yang akan digunakan pelaku using the assumptions that market participants would
pasar ketika menentukan harga aset atau liabilitas use when pricing the asset or liability, assuming that
tersebut, dengan asumsi bahwa pelaku pasar market participants act in their economic best interest.
bertindak dalam kepentingan ekonomi terbaiknya.
Pengukuran nilai wajar dari suatu aset non-keuangan A fair value measurement of a non-financial asset
memperhitungkan kemampuan pelaku pasar untuk takes into account a market participant’s ability to
menghasilkan manfaat ekonomik dengan generate economic benefits by using the asset in its
menggunakan aset dalam penggunaan tertinggi dan highest and best use or by selling it to another market
terbaiknya atau dengan menjualnya kepada pelaku participant that would use the asset in its highest and
pasar lain yang akan menggunakan aset tersebut best use.
pada penggunaan tertinggi dan terbaiknya.
Grup menggunakan teknik penilaian yang sesuai The Group use valuation techniques that are
dengan keadaan dan data yang memadai tersedia appropriate in the circumstances and for which
untuk mengukur nilai wajar, dengan memaksimalkan sufficient data are available to measure fair value,
masukan (input) yang dapat diamati (observable) maximizing the use of relevant observable inputs and
yang relevan dan meminimalkan masukan (input) minimizing the use of unobservable inputs.
yang tidak dapat diamati (unobservable).
Semua aset dan liabilitas yang nilai wajarnya diukur All assets and liabilities for which fair value is
atau diungkapkan dalam laporan keuangan measured or disclosed in the consolidated financial
konsolidasian dikategorikan dalam hirarki nilai wajar statements are categorized within the fair value
berdasarkan level masukan (input) paling rendah hierarchy, described as follows, based on the lowest
yang signifikan terhadap pengukuran nilai wajar level input that is significant to the fair value
secara keseluruhan sebagai berikut: measurement as a whole:
i) Level 1 - Harga kuotasian (tanpa penyesuaian) di i) Level 1 - Quoted (unadjusted) market prices in
pasar aktif untuk aset atau liabilitas yang identik active markets for identical assets or liabilities.
yang dapat diakses entitas pada tanggal
pengukuran.
ii) Level 2 - Teknik penilaian yang menggunakan ii) Level 2 - Valuation techniques for which the lowest
tingkat masukan (input) yang paling rendah yang level input that is significant to the fair value
signifikan terhadap pengukuran nilai wajar yang measurement is directly or indirectly observable.
dapat diamati (observable) baik secara langsung
atau tidak langsung.
iii) Level 3 - Teknik penilaian yang menggunakan iii) Level 3 - Valuation techniques for which the lowest
tingkat masukan (input) yang paling rendah yang level input that is significant to the fair value
signifikan terhadap pengukuran nilai wajar yang measurement is directly or indirectly unobservable.
tidak dapat diamati (unobservable) baik secara
langsung atau tidak langsung.
Untuk aset dan liabilitas yang diakui pada laporan For assets and liabilities that are recognized in the
keuangan konsolidasian secara berulang, Grup consolidated financial statements on recurring basis,
menentukan apakah terdapat perpindahan antara the Group determine whether transfers have occurred
level dalam hirarki dengan melakukan evaluasi ulang between levels in the hierarchy by re-assessing
atas penetapan kategori (berdasarkan level masukan categorization (based on the lowest level input that is
(input) paling rendah yang signifikan terhadap significant to the fair value measurement as a whole) at
pengukuran nilai wajar secara keseluruhan) pada tiap the end of each reporting period.
akhir periode pelaporan.
43
Page 254
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
3. INFORMASI KEBIJAKAN AKUNTANSI YANG 3. MATERIAL ACCOUNTING POLICY INFORMATION
MATERIAL (lanjutan) (continued)
bb. Informasi segmen bb. Segment information
Segmen operasi dilaporkan dengan cara yang Operating segments are reported in a manner
konsisten dengan pelaporan internal yang diberikan consistent with the internal reporting provided to the
kepada pengambil keputusan operasi utama. chief operating decision-maker. The chief operating
Pengambil keputusan operasi utama, yang decision-maker, who is responsible for allocating
bertanggung jawab mengalokasikan sumber daya resources and assessing the performance of the
dan menilai kinerja segmen operasi, telah operating segments, has been identified as the
diidentifikasi sebagai komite pengarah yang steering committee that makes strategic decisions.
mengambil keputusan strategis.
Untuk tujuan manajemen, Grup dibagi menjadi dua For management purposes, the Group is organised
segmen operasi berdasarkan produk yang dikelola into two operating segments based on their products
secara independen oleh masing-masing pengelola which are independently managed by the respective
segmen yang bertanggung jawab atas kinerja dari segment managers responsible for the performance of
masing-masing segmen. Para pengelola segmen the respective segments under their charge. The
melaporkan secara langsung kepada manajemen segment managers report directly to the Group’s
Grup yang secara teratur mengkaji laba segmen management who regularly review the segment’s
sebagai dasar untuk mengalokasikan sumber daya results in order to allocate resources to the segments
ke masing-masing segmen dan untuk menilai kinerja and assess the segment’s performance. Additional
segmen. Pengungkapan tambahan pada masing- disclosures on each of these segments are shown in
masing segmen terdapat dalam Catatan 35, termasuk Note 35, including the factors used to identify the
faktor yang digunakan untuk mengidentifikasi segmen reportable segments and the measurement basis of
yang dilaporkan dan dasar pengukuran informasi segment information.
segmen.
cc. Peristiwa setelah periode pelaporan cc. Events after the reporting period
Peristiwa setelah periode pelaporan yang Events after the reporting period that provide additional
memberikan informasi tambahan tentang posisi Grup information about the Group’s position at the reporting
pada periode pelaporan (menyesuaikan peristiwa) period (adjusting events) are reflected in the
tercermin dalam laporan keuangan konsolidasian. consolidated financial statements. Events after the
Peristiwa setelah periode pelaporan yang tidak reporting period that are not adjusting events, if any,
menyesuaikan peristiwa, jika ada, diungkapkan ketika are disclosed when material to the consolidated
material terhadap laporan keuangan konsolidasian. financial statements.
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY
Penyusunan laporan keuangan konsolidasian Grup The preparation of the Group’s consolidated financial
mengharuskan manajemen untuk membuat pertimbangan, statements requires management to make judgements,
estimasi dan asumsi yang memengaruhi jumlah yang estimates and assumptions that affect the reported amounts
dilaporkan dari pendapatan, beban, aset dan liabilitas, dan of revenues, expenses, assets and liabilities, and the
pengungkapan atas liabilitas kontinjensi, pada akhir disclosure of contingent liabilities, at the end of the reporting
periode pelaporan. Estimasi, asumsi, dan pertimbangan period. Estimates, assumptions and judgements are
tersebut dievaluasi secara terus menerus berdasarkan continuously evaluated based on historical experience and
pengalaman historis dan faktor-faktor lainnya, termasuk other factors, including expectations of future events that
harapan peristiwa di masa datang yang diyakini wajar are believed to be reasonable under the circumstances.
berdasarkan kondisi yang ada.
Grup telah mengidentifikasi hal-hal berikut dimana The Group has identified the following matters under which
diperlukan pertimbangan, estimasi dan asumsi signifikan significant judgements, estimates and assumptions are
dan dimana hasil aktual dapat berbeda dari estimasi made and where actual results may differ from these
tersebut jika menggunakan asumsi dan kondisi yang estimates under different assumptions and conditions and
berbeda dan dapat memengaruhi secara material hasil may materially affect the consolidated financial results or
keuangan atau posisi keuangan konsolidasian Grup yang financial position of the Group reported in future years.
dilaporkan dalam tahun mendatang.
44
Page 255
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY (continued)
(lanjutan)
Penilaian model bisnis Business model assessment
Klasifikasi dan pengukuran aset keuangan bergantung Classification and measurement of financial assets depends
pada hasil SPPI testing dan uji model bisnis. Grup on the results of the SPPI testing and the business model
menentukan model bisnis pada tingkat yang test. The Group determines the business model at a level
mencerminkan bagaimana kelompok aset keuangan that reflects how groups of financial assets are managed
dikelola bersama untuk mencapai tujuan bisnis tertentu. together to achieve a particular business objective. This
Penilaian ini mencakup penilaian yang mencerminkan assessment includes judgment reflecting all relevant
semua bukti yang relevan termasuk bagaimana kinerja evidence including how the performance of the assets is
aset dievaluasi dan kinerjanya diukur, risiko yang evaluated and their performance measured, the risks that
memengaruhi kinerja aset dan bagaimana hal ini dikelola affect the performance of the assets and how these are
dan bagaimana manajer aset diberi kompensasi. Grup managed and how the managers of the assets are
memantau aset keuangan yang diukur pada biaya compensated. The Group monitors financial assets
perolehan diamortisasi atau nilai wajar melalui measured at amortized cost or fair value through other
penghasilan komprehensif lain yang dihentikan comprehensive income that are derecognized prior to their
pengakuannya sebelum jatuh tempo untuk memahami maturity to understand the reason for their disposal and
alasan pelepasannya dan apakah alasan tersebut whether the reasons are consistent with the objective of the
konsisten dengan tujuan bisnis di mana aset tersebut business for which the asset was held. Monitoring is part of
dimiliki. Pemantauan adalah bagian dari penilaian the Group’s continuous assessment of whether the
berkelanjutan Grup atas apakah model bisnis di mana aset business model for which the remaining financial assets are
keuangan yang tersisa dimiliki tetap sesuai dan jika tidak held continues to be appropriate and if it is not appropriate
sesuai apakah telah terjadi perubahan dalam model bisnis whether there has been a change in business model and so
dan dengan demikian terdapat perubahan prospektif a prospective change to the classification of those assets.
terhadap klasifikasi aset keuangan tersebut. Tidak ada No such changes were required during the periods
perubahan yang diperlukan selama periode yang presented.
disajikan.
Nilai wajar aset tetap (tanah) dan properti investasi (tanah Fair value fixed assets (land) and investment properties
dan bangunan) (land and buildings)
Nilai wajar dari aset tetap (tanah) dan properti investasi The fair value of fixed assets (land) and investment
(tanah dan bangunan) ditentukan menggunakan teknik properties (land and buildings) is determined by using
valuasi. Aset tetap (tanah) dan properti investasi (tanah valuation techniques. The Group’s fixed assets (land) and
dan bangunan) milik Grup divaluasi oleh penilai investment properties (land and buildings) were valued by
independen profesional yang memiliki kualifikasi yang independent professionally qualified valuers who hold a
relevan dan pengalaman yang berhubungan dengan lokasi recognised relevant professional qualification and have
dan segmen aset tetap (tanah) dan properti investasi recent experience in the locations and segment of the fixed
(tanah dan bangunan) yang akan dinilai. Untuk semua assets (land) and investment properties (land and buildings)
penilaian, penggunaan saat ini setara dengan penggunaan valued. For all valuations, their current use equates to the
tertinggi dan terbaik. highest and best use.
Nilai wajar untuk tanah yang dimiliki dalam aset tetap dan The fair value for land held in fixed assets and investment
properti investasi ditentukan menggunakan pendekatan properties was determined using the market approach. This
pasar. Pendekatan ini mempertimbangkan nilai pasar approach takes into account the market price of land for
tanah untuk properti pembanding di sekitar lokasi, dengan comparable properties in the vicinity, with certain
penyesuaian- penyesuaian tertentu yang dilakukan adjustments for differences due to different characteristics
dengan mempertimbangkan perbedaan karakteristik dari of the land, such as land certificate status, property size,
tanah tersebut, seperti status sertifikasi tanah, ukuran location and accessibility. The most significant input into this
properti, lokasi, akses menuju lokasi. Hal yang paling valuation approach is the land market price per square
signifikan dalam pendekatan ini adalah harga pasar tanah metre.
per meter persegi.
Nilai wajar untuk bangunan yang dimiliki dalam properti The fair value for building held in investment properties was
investasi ditentukan menggunakan pendekatan determined using the income approach with the discounted
pendapatan dengan model arus kas diskontoan. Asumsi cash flow model. The significant assumption under this
signifikan dalam pendekatan ini adalah tingkat tarif sewa approach are rental and service charge rates and the
dan biaya jasa dan tingkat diskonto. discount rate.
45
Page 256
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY (continued)
(lanjutan)
Beban akrual pemasaran dan promosi Accrued marketing and promotion expenses
Grup mengevaluasi kelayakan beban akrual promosi dan The Group evaluates the appropriateness of accrued
pemasaran pada setiap akhir periode pelaporan. marketing and promotion expenses at every end of
reporting period.
Grup membuat pertimbangan yang signifikan untuk The Group exercised significant assumptions and
mengestimasi jumlah beban akrual pemasaran dan judgements to estimate the accrued marketing and
promosi pada akhir tahun. Asumsi-asumsi utama dalam promotion expenses amounts at the end of the year. The
penentuan beban akrual pemasaran dan promosi adalah key assumptions in determining the accrued marketing and
harga barang promosi dan estimasi pencapaian penjualan. promotion expenses were price of the promotional goods
Ketidakpastian muncul sehubungan dengan harga barang and estimated sales achievement. Uncertainties exist with
promosi dan jumlah aktual pencapaian penjualan, yang respect to price of the promotional goods and the actual
mungkin berbeda dengan estimasi. Setiap perubahan dari sales achievement, which may be different from the
faktor-faktor ini akan berdampak pada jumlah realisasi estimation. Any changes in these factors will impact the
yang dapat berbeda dari beban akrual pemasaran dan realisable amount which can be different from the reported
promosi. accrued marketing and promotion expenses.
Penyusutan aset tetap Depreciation of fixed assets
Aset tetap disusutkan dengan menggunakan metode garis The fixed assets are depreciated on a straight-line method
lurus berdasarkan taksiran masa manfaat ekonomisnya. over their estimated useful lives. Management estimates the
Manajemen mengestimasi masa manfaat ekonomis aset useful lives of these fixed assets to be within 4 to 30 years.
tetap antara 4 sampai dengan 30 tahun.
Grup secara periodik menelaah estimasi masa manfaat The Group periodically reviews the estimated useful lives of
aset tetap berdasarkan beberapa faktor diantaranya fixed assets based on several factors such as technical
spesifikasi teknis, operasi dan kebutuhan usaha. Laporan specification, operation and business needs. The
keuangan konsolidasian dapat terpengaruh secara consolidated financial statements could be materially
material terhadap perubahan dalam estimasi tersebut. affected by changes in these estimates. Management will
Manajemen akan merevisi beban penyusutan dimana revise the depreciation charged where useful lives are
masa manfaatnya berbeda dari estimasi sebelumnya, atau different to those previously estimated, or it will write off or
penghapusan atau melakukan penurunan nilai atas aset written down technically obsolete or non-strategic assets
yang secara teknis telah usang atau aset non-strategis that have been abandoned or sold. Further details are
yang dihentikan penggunaannya atau dijual. Penjelasan disclosed in Note 12.
lebih rinci diungkapkan dalam Catatan 12.
Sewa Leases
Penentuan apakah suatu perjanjian merupakan atau Determining whether an arrangement is or contains a lease
mengandung sewa memerlukan pertimbangan yang requires careful judgement to assess whether the
cermat untuk menilai apakah perjanjian tersebut arrangement conveys a right to obtain substantially all the
memberikan hak untuk memperoleh secara substansial economic benefits from the use of the asset throughout the
seluruh manfaat ekonomi dari penggunaan aset selama period of use and the 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 hak tidak secara eksplisit arrangement.
ditentukan dalam pengaturan.
Grup memiliki berbagai perjanjian sewa dimana Grup The Group has various lease agreements where the Group
bertindak sebagai lessee sehubungan dengan aset acts as a lessee in respect of certain assets. The Group
tertentu. Grup mengevaluasi apakah risiko dan manfaat evaluates whether significant risks and rewards of
yang signifikan atas kepemilikan aset sewaan dialihkan ownership of the leased asset are transferred to the lessee
kepada penyewa atau dipertahankan oleh Grup or retained by the Group based on PSAK 116, which
berdasarkan PSAK 116, yang mengharuskan Grup untuk requires the Group to make judgements and estimates of
membuat pertimbangan dan estimasi atas pengalihan the transfer of risks and rewards of ownership of the leased
risiko dan manfaat kepemilikan aset yang disewa. asset.
46
Page 257
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY (continued)
(lanjutan)
Sewa (lanjutan) Leases (continued)
Karena Grup tidak dapat dengan mudah menentukan suku Since the Group could not readily determine the implicit
bunga implisit, manajemen menggunakan suku bunga rate, management uses the Group’s incremental borrowing
pinjaman inkremental Grup sebagai tingkat diskonto. Ada rate as a discount rate. There are a number of factors to
beberapa faktor yang perlu dipertimbangkan dalam consider in determining an incremental borrowing rate,
menentukan suku bunga pinjaman inkremental, yang many of which need judgement in order to be able to
banyak di antaranya memerlukan pertimbangan untuk reliably quantify any necessary adjustments to arrive at the
dapat secara andal mengukur penyesuaian yang final discount rates. In determining the incremental
diperlukan untuk sampai pada tingkat diskonto akhir. borrowing rate, the Group considers the following main
Dalam menentukan suku bunga pinjaman inkremental, factors: the Group’s corporate credit risk, the lease term, the
Grup mempertimbangkan faktor-faktor utama berikut: lease payment term, the economic environment, the time at
risiko kredit korporat Grup, jangka waktu sewa, jangka which the lease is entered into, and the currency in which
waktu pembayaran sewa, lingkungan ekonomi, waktu di the lease payments are denominated.
mana sewa dimasukkan, dan mata uang di mana
pembayaran sewa ditentukan.
Grup menentukan jangka waktu sewa sebagai jangka The Group determines the lease term as the non-
waktu sewa yang tidak dapat dibatalkan, bersama dengan cancellable term of the lease, together with any periods
setiap periode yang tercakup dalam opsi untuk covered by an option to extend the lease if it is reasonably
memperpanjang sewa jika cukup pasti akan dilaksanakan, certain to be exercised, or any periods covered by an option
atau setiap periode yang tercakup dalam opsi untuk to terminate the lease, if it is reasonably certain not to be
mengakhiri sewa, jika cukup pasti untuk tidak dilakukan. exercised.
Pertimbangan dilakukan dalam mengevaluasi apakah The Group applies judgement in evaluating whether it is
cukup pasti akan menggunakan opsi untuk memperbarui reasonably certain whether or not to exercise the option to
atau mengakhiri sewa. Artinya, Grup mempertimbangkan renew or terminate the lease. That is, it considers all
seluruh faktor relevan yang menciptakan insentif ekonomi relevant factors that create an economic incentive for it to
untuk melakukan pembaruan atau penghentian. Grup juga exercise either the renewal or termination. The Group also
mempertimbangkan apakah ada penalti signifikan untuk considers whether there are significant penalties to
membatalkan (atau untuk tidak memperpanjang) kontrak, terminate (or not extend) the contracts, any leasehold
adanya leasehold improvement yang diperkirakan memiliki improvement are expected to have a significant remaining
nilai sisa yang signifikan atau faktor lain mencakup sejarah value or other factors including historical lease durations
durasi sewa dan biaya serta halangan bisnis untuk and the costs and business disruption required to replace
menggantikan aset sewa dalam menelaah hak yang dapat the leased assets in assessing the enforceable rights to
dipaksakan untuk memperpanjang sewa diluar kontrak extend the lease beyond the written contract.
tertulis.
Grup menilai kembali masa sewa jika ada peristiwa atau The Group reassesses the lease term if there is a significant
perubahan signifikan dalam keadaan yang berada dalam event or change in circumstances that is within its control
kendali dan memengaruhi kemampuan Grup untuk and affects its ability to exercise or not to exercise the
menggunakan atau tidak menggunakan opsi untuk option to renew or to terminate.
memperbarui atau menghentikan.
47
Page 258
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY (continued)
(lanjutan)
Instrumen keuangan Financial instruments
Grup mencatat aset dan liabilitas keuangan tertentu pada The Group carry certain financial assets and liabilities at fair
nilai wajar, yang mengharuskan penggunaan estimasi value, which requires the use of accounting estimates.
akuntansi. Sementara komponen signifikan atas While significant components of fair value measurement
pengukuran nilai wajar ditentukan menggunakan bukti were determined using verifiable objective evidences, the
obyektif yang dapat diverifikasi, jumlah perubahan nilai amount of changes in fair value would differ if the Group
wajar dapat berbeda bila Grup menggunakan metodologi utilized a different valuation methodology. Any changes in a
penilaian yang berbeda. Perubahan nilai wajar aset dan fair value of these financial assets and liabilities would
liabilitas keuangan tersebut dapat mempengaruhi secara directly affect the Group’s other comprehensive income.
langsung penghasilan komprehensif lain Grup.
Nilai tercatat dari aset keuangan dan liabilitas keuangan The carrying amounts of financial assets and financial
pada nilai wajar dalam laporan posisi keuangan liabilities carried at fair values in the consolidated
konsolidasian pada tanggal 31 Desember 2024 dan 2023 statements of financial position as of December 31, 2024
diungkapkan dalam Catatan 32. and 2023 are disclose in Note 32.
Penyisihan persediaan usang dan lambat bergerak Allowance for obsolescence and slow-moving inventories
Penyisihan persediaan usang dan lambat bergerak Allowance for obsolescence and slow-moving inventories is
diestimasi berdasarkan fakta dan situasi terbaik yang estimated based on the best available facts and
tersedia, termasuk namun tidak terbatas kepada, kondisi circumstances, including but not limited to, the inventories’
fisik persediaan yang dimiliki, harga jual pasar, estimasi own physical conditions, their market selling prices,
biaya penyelesaian dan estimasi biaya yang timbul untuk estimated costs of completion and estimated costs to be
penjualan. Provisi dievaluasi kembali dan disesuaikan jika incurred for their sales. The provisions are re-evaluated and
terdapat tambahan informasi yang mempengaruhi jumlah adjusted as additional information received affects the
yang diestimasi. Nilai tercatat persediaan diungkapkan amount estimated. The carrying amounts of inventories are
dalam Catatan 9. disclosed in Note 9.
Imbalan pasca kerja dan pensiun Pension and employee benefits
Penentuan utang dan biaya pensiun dan liabilitas imbalan The determination of the Group’s obligations and cost for
kerja Grup bergantung pada pemilihan asumsi yang pension and employee benefits liabilities is dependent on its
digunakan oleh aktuaris independen dalam menghitung selection of certain assumptions used by the independent
jumlah-jumlah tersebut. Asumsi tersebut termasuk antara actuaries in calculating such amounts. Those assumptions
lain, tingkat diskonto, tingkat kenaikan gaji tahunan, tingkat include among others, discount rates, future annual salary
pengunduran diri karyawan tahunan, tingkat kecacatan, increase, annual employee turn-over rate, disability rate,
umur pensiun dan tingkat kematian. Hasil aktual yang retirement age and mortality rate. Actual results that differ
berbeda dari asumsi yang ditetapkan Grup diakui segera from the Group’s assumptions are recognized immediately
sebagai pos terpisah pada penghasilan komprehensif lain as a separate item under other comprehensive income in
di ekuitas. Sementara Grup berkeyakinan bahwa asumsi equity. While the Group believes that its assumptions are
tersebut adalah wajar dan sesuai, perbedaan signifikan reasonable and appropriate, significant differences in the
pada hasil aktual atau perubahan signifikan dalam asumsi Group’s actual experiences or significant changes in the
yang ditetapkan Grup dapat mempengaruhi secara Group’s assumptions may materially affect its estimated
material liabilitas diestimasi atas pensiun dan imbalan liabilities for pension and employee benefits and net
kerja dan beban imbalan kerja neto. Nilai tercatat liabilitas employee benefits expense. The carrying amount of the
imbalan kerja diungkapkan pada Catatan 18. employee benefits obligation are disclosed in Note 18.
48
Page 259
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
4. PERTIMBANGAN AKUNTANSI PENTING DAN 4. CRITICAL ACCOUNTING JUDGMENTS AND KEY
SUMBER UTAMA KETIDAKPASTIAN ESTIMASI SOURCES OF ESTIMATION UNCERTAINTY (continued)
(lanjutan)
Penyisihan atas penurunan nilai piutang usaha Allowance for impairment of trade receivables
Grup menggunakan matriks provisi untuk menghitung ECL The Group uses a provision matrix to calculate ECLs for
atas piutang usaha. Tarif provisi didasarkan pada hari trade receivables. The provision rates are based on days
yang lewat jatuh tempo untuk mengelompokan pelanggan past due for groupings of various customer segments that
ke segmen yang memiliki pola kerugian serupa. Matriks have similar loss patterns. The provision matrix is initially
provisi awalnya berdasarkan tarif default yang diamati based on the Group’s historical observed default rates. The
Grup secara historis. Grup akan mengkalibrasi matriks Group will calibrate the matrix to adjust the historical credit
tersebut untuk menyesuaikan pengalaman kerugian kredit loss experience with forward-looking information.
historis dengan informasi kedepan.
Misalnya, jika prakiraan kondisi ekonomi diperkirakan For instance, if forecast economic conditions are expected
memburuk selama tahun depan yang dapat menyebabkan to deteriorate over the next year which can lead to an
peningkatan jumlah default di sektor usaha Grup, tingkat increased number of defaults in the Group’s industry sector,
default historis disesuaikan. Pada setiap tanggal the historical default rates are adjusted. At every reporting
pelaporan, tarif default yang diamati secara historis date, the historical observed default rates are updated and
diperbarui dan perubahan dalam estimasi ke depan changes in the forward-looking estimates are analysed.
dianalisa kembali.
Penilaian korelasi antara tingkat default yang diamati The assessment of the correlation between historical
secara historis, prakiraan kondisi ekonomi, dan ECL observed default rates, forecast economic conditions and
adalah estimasi signifikan. Jumlah ECL sensitif terhadap ECLs is a significant estimate. The amount of ECLs is
perubahan keadaan dan prakiraan kondisi ekonomi. sensitive to changes in circumstances and of forecast
Pengalaman kerugian kredit historis Grup dan prakiraan economic conditions. The Group’s historical credit loss
kondisi ekonomi mungkin tidak mewakili actual default experience and forecast of economic conditions may also
pelanggan di masa depan. Informasi mengenai ECL atas not be representative of customer’s actual default in the
piutang usaha Grup diungkapkan pada Catatan 6. future. The information about the ECLs on the Group’s trade
receivables is disclosed in Note 6.
Menentukan apakah poin loyalitas memberikan hak Determining whether the loyalty points provide material
material kepada pelanggan rights to customers
Segmen ritel Grup menjalankan program poin loyalitas The Group’s retail segment operates a loyalty points
yang memungkinkan pelanggan untuk mengumpulkan program which allows customers to accumulate points when
poin ketika mereka membeli barang di toko ritel Grup. they purchase products in the Group’s retail stores. The
Poin-poin tersebut dapat ditukarkan dengan produk gratis, points can be redeemed for free products, subject to a
bergantung pada jumlah poin minimum yang diperoleh. minimum number of points obtained. The Group assessed
Grup menilai apakah poin loyalitas tersebut memberikan whether the loyalty points provide a material right to the
hak material kepada pelanggan yang perlu untuk customers that needs to be accounted for as a separate
diperhitungkan sebagai kewajiban pelaksanaan terpisah. performance obligation.
Grup menetapkan bahwa poin loyalitas memberikan hak The Group determined that the loyalty points provide a
material yang tidak akan diterima pelanggan tanpa material right that customers would not receive without
menandatangani kontrak. Produk gratis yang diterima entering into the contract. The free products the customers
pelanggan ketika menukar poin loyalitasnya tidak would receive by exercising the loyalty points do not reflect
mencerminkan harga yang berdiri sendiri yang akan the stand-alone selling price that customers without an
dibayar oleh pelanggan yang tidak memiliki hubungan existing relationship with the Group would pay for those
dengan Grup untuk produk tersebut. Hak pelanggan juga products. The customers’ right also accumulates as they
terkumpul ketika membeli produk tambahan. purchase additional products.
49
Page 260
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
5. KAS DAN SETARA KAS 5. CASH AND CASH EQUIVALENTS
2024 2023
Kas Cash on hand
Rupiah 3,407 5,056 Rupiah
Lain-lain 81 76 Others
Jumlah kas 3,488 5,132 Total cash on hand
Kas di bank Cash in banks
Rupiah Rupiah
PT Bank UOB Indonesia 164,238 90,891 PT Bank UOB Indonesia
PT Bank Danamon Indonesia Tbk 106,965 69,072 PT Bank Danamon Indonesia Tbk
PT Bank Mandiri (Persero) Tbk 85,160 126,532 PT Bank Mandiri (Persero) Tbk
PT Bank Central Asia Tbk 36,087 22,262 PT Bank Central Asia Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 6,114 4,887 (Persero) Tbk
PT Bank Tabungan Negara Tbk 2,756 4,668 PT Bank Tabungan Negara Tbk
PT Bank Permata Tbk 2,450 1,315 PT Bank Permata Tbk
PT Bank OCBC NISP Tbk 1,977 1,465 PT Bank OCBC NISP Tbk
PT Bank Maspion Indonesia Tbk 1,870 - PT Bank Maspion Indonesia Tbk
Lain-lain 3,123 3,282 Others
Dolar AS US Dollar
PT Bank Mandiri (Persero) Tbk PT Bank Mandiri (Persero) Tbk
(AS$ 16.249 pada tahun 2024 dan (US$ 16,249 in 2024 and
AS$ 2.452 pada tahun 2023) 263 38 US$ 2,452 in 2023)
Jumlah kas di bank 411,003 324,412 Total cash in banks
Deposito Time deposits
Rupiah Rupiah
PT Bank Tabungan Negara Tbk 670,000 900,000 PT Bank Tabungan Negara Tbk
PT Bank Rakyat Indonesia PT Bank Rakyat Indonesia
(Persero) Tbk 600,000 - (Persero) Tbk
PT Bank Mandiri Taspen 150,000 - PT Bank Mandiri Taspen
PT Bank Maspion Indonesia Tbk 150,000 - PT Bank Maspion Indonesia Tbk
PT Bank Danamon Indonesia Tbk 100,000 - PT Bank Danamon Indonesia Tbk
PT Bank Maybank Indonesia Tbk 100,000 - PT Bank Maybank Indonesia Tbk
PT Bank Pan Indonesia Tbk 100,000 - PT Bank Pan Indonesia Tbk
PT Bank Permata Tbk 25,000 - PT Bank Permata Tbk
PT Bank Mandiri (Persero) Tbk 20,000 1,000 PT Bank Mandiri (Persero) Tbk
Jumlah deposito 1,915,000 901,000 Total time deposits
Jumlah (tidak termasuk cerukan) 2,329,491 1,230,544 Total (excluding bank overdraft)
Tingkat bunga deposito per tahun 6.50% - 6.75% 2.50% - 6.15% Annual interest rate of time deposits
Kas dan setara kas termasuk hal-hal berikut untuk Cash and cash equivalents include the following for the
kepentingan penyajian laporan arus kas konsolidasian: purposes of the consolidated statement of cash flows:
2024 2023
Kas dan setara kas 2,329,491 1,230,544 Cash and cash equivalents
Cerukan (Catatan 17) (9,189 ) (5,222 ) Bank overdraft (Note 17)
Kas dan setara kas 2,320,302 1,225,322 Cash and cash equivalents
Tidak terdapat saldo kas dan setara kas yang digunakan There is no balance of cash and cash equivalents pledged
sebagai jaminan dan dibatasi penggunaannya. as collateral and restricted in use.
50
Page 261
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
6. PIUTANG USAHA 6. TRADE RECEIVABLES
2024 2023
Pihak ketiga 1,446,729 1,230,494 Third parties
Pihak berelasi (Catatan 7) 16,319 14,018 Related parties (Note 7)
Sub-jumlah 1,463,048 1,244,512 Sub-total
Dikurangi : cadangan kerugian Less : allowance for impairment
penurunan nilai piutang usaha (1,311 ) (1,469) losses of trade receivables
Jumlah 1,461,737 1,243,043 Total
Analisa umur piutang usaha adalah sebagai berikut: The aging analysis of trade receivables is as follows:
2024 2023
Belum jatuh tempo 1,416,747 1,198,915 Not yet due
Lewat jatuh tempo: Overdue:
1 - 30 hari 23,677 23,254 1 - 30 days
31 - 60 hari 9,717 10,669 31 - 60 days
Lebih dari 60 hari 12,907 11,674 Over 60 days
Dikurangi cadangan kerugian Less allowance for impairment
penurunan nilai piutang usaha (1,311 ) (1,469 ) losses of trade receivables
Jumlah piutang usaha 1,461,737 1,243,043 Total trade receivables
Mutasi penyisihan atas ECL piutang usaha Grup adalah Movements in the Group’s allowance for ECLs of trade
sebagai berikut: receivables are as follows:
2024 2023
Saldo awal (1,469) (337) Beginning balances
Perubahan selama tahun berjalan 158 (1,132) Changes during the year
Saldo akhir (1,311) (1,469) Ending balances
Berdasarkan hasil penelaahan keadaan piutang pada Based on a review of the status of receivable accounts at
akhir periode pelaporan, manajemen Grup berkeyakinan the end of the reporting period, the Group’s management
bahwa penyisihan penurunan nilai telah memadai untuk believes that the allowance for impairment losses is
menutup kemungkinan kerugian atas tidak tertagihnya adequate to cover possible losses from uncollectible
piutang usaha. receivables.
Pada tanggal 31 Desember 2024 dan 2023, seluruh As of December 31, 2024 and 2023, all of the Group’s trade
piutang usaha Grup dalam mata uang Rupiah. receivables are denominated in Rupiah.
Pada tanggal 31 Desember 2024 dan 2023, piutang usaha As of December 31, 2024 and 2023, trade receivables
masing-masing sebesar Rp 1.416.747 dan Rp 1.198.915 amounting to Rp 1,416,747 and Rp 1,198,915, respectively,
belum jatuh tempo dan tidak mengalami penurunan nilai. were not past due and not impaired. These receivables will
Piutang ini akan jatuh tempo dalam waktu 1-60 hari. be due in 1-60 days.
Pada tanggal 31 Desember 2024 dan 2023 terdapat As of December 31, 2024 and 2023, trade receivables
piutang usaha masing-masing sebesar Rp 44.990 dan amounting to Rp 44,990 and Rp 44,128, respectively, were
Rp 44.128 telah lewat jatuh tempo namun tidak mengalami past due but not impaired. These relate to a number of
penurunan nilai. Piutang tersebut berasal dari sejumlah independent customers for whom there is no recent history
pelanggan yang tidak memiliki sejarah gagal bayar. of default.
Pada tanggal 31 Desember 2024 dan 2023, piutang usaha As of December 31, 2024 and 2023, trade receivables
masing-masing sebesar Rp 1.311 dan Rp 1.469 amounting to Rp 1,311 and Rp 1,469, respectively, were
mengalami penurunan nilai dan telah diprovisikan. impaired and have been fully provisioned.
51
Page 262
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
6. PIUTANG USAHA (lanjutan) 6. TRADE RECEIVABLES (continued)
Pada tanggal 31 Desember 2024 dan 2023, piutang usaha As of December 31, 2024 and 2023, the Group’s certain
tertentu Grup dijaminkan atas fasilitas pinjaman dari trade receivables are pledged as collateral for the loan
PT Bank Mandiri (Persero) Tbk dengan perjanjian fidusia facilities from PT Bank Mandiri (Persero) Tbk with fiduciary
senilai Rp 562.860 (Catatan 17). agreement totalling Rp 562,860 (Note 17).
Lihat Catatan 32 mengenai risiko kredit piutang usaha Refer to Note 32 on the credit risk of trade receivables to
untuk memahami bagaimana Grup mengelola dan understand how the Group manages and measures the
mengukur kualitas kredit piutang usaha. credit quality of trade receivables.
7. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI 7. BALANCES AND TRANSACTIONS WITH RELATED
PARTIES
a. Sifat hubungan pihak berelasi a. Nature of relationship
Dalam kegiatan usaha normal, Grup melakukan In the normal course of business, the Group enters
transaksi usaha dan lainnya dengan pihak-pihak into trade and other transactions with related parties,
berelasi, yang terafiliasi dengan Grup melalui which are affiliated with the Group through direct or
kepemilikan langsung dan tak langsung, dan/atau indirect ownership, and/or under common control
dibawah entitas sepengendali. Tranksaksi antara entity. The transactions among related parties are
pihak-pihak berelasi dilakukan berdasarkan made based on terms agreed by the parties.
persyaratan yang disetujui oleh kedua belah pihak.
Dalam kegiatan usahanya, Grup melakukan transaksi In the normal course of business, the Group entered
tertentu dengan pihak berelasi, yang meliputi antara into certain transactions with related parties, including
lain: the following:
Pihak-pihak berelasi/ Sifat hubungan/ Jenis transaksi/
Related parties Nature of relationship Nature of transactions
PT Avia Avian Memiliki personil manajemen kunci yang Penjualan barang, pembelian alat-alat dan
Industri Pipa sama dan dalam entitas sepengendali/ bahan bangunan, pendapatan sewa
Have the same key management bangunan kantor dan penggantian biaya/
personnel and under common control entity Sales of goods, purchase of tools and building
materials, office building rent income and
expense reimbursement
PT Mitra Mulia Memiliki personil manajemen kunci yang Penjualan barang, pembelian bahan pembantu
Makmur sama dan dalam entitas sepengendali/ dan pendapatan sewa bangunan pabrik/
Have the same key management Sales of goods, purchase of supplies
personnel and under common control entity and building materials and factory
building rent income
PT Sarana Depo Memiliki personil manajemen kunci yang Penjualan barang dan sewa bangunan/
Kencana sama dan dalam entitas sepengendali/ Sales of goods and building rent
Have the same key management
personnel and under common control entity
PT Wahana Lentera Memiliki personil manajemen kunci yang Penjualan barang, pembelian alat-alat dan
Raya sama dan dalam entitas sepengendali/ bahan bangunan, pendapatan sewa
Have the same key management bangunan kantor dan penggantian biaya/
personnel and under common control entity Sales of goods, purchase of tools and building
materials, office building rent income
and expense reimbursement
PT Kencana Memiliki personil manajemen kunci yang Penjualan barang, pembelian alat-alat dan
Lintasindo sama dan dalam entitas sepengendali/ bahan bangunan dan penggantian biaya/
Internasional Have the same key management Sales of goods, purchase of tools and building
personnel and under common control entity materials and expense reimbursement
PT Panca Memiliki personil manajemen kunci yang Penjualan barang dan pembelian alat-alat dan
Kalsiumindo sama dan dalam entitas sepengendali/ bahan bangunan/Sales of goods and
Perkasa Have the same key management purchases of tools and building materials
personnel and under common control entity
52
Page 263
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
7. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI 7. BALANCES AND TRANSACTIONS WITH
(lanjutan) RELATED PARTIES (continued)
a. Sifat hubungan pihak berelasi (lanjutan) a. Nature of relationship (continued)
Pihak-pihak berelasi/ Sifat hubungan/ Jenis transaksi/
Related parties Nature of relationship Nature of transactions
PT Megadepo Memiliki personil manajemen kunci yang Penjualan barang dan pembelian alat-alat dan
Indonesia sama dan dalam entitas sepengendali/ bahan bangunan/Sales of goods and
Have the same key management purchases of tools and building materials
personnel and under common control entity
PT Caturkarda Depo Memiliki personil manajemen kunci yang Penjualan barang/Sales of goods
Bangunan Tbk sama dan dalam entitas sepengendali/
Have the same key management
personnel and under common control entity
PT Bangun Bersama Investasi pada ventura bersama/ Penjualan barang, pendapatan sewa bangunan
Solusindo Investment in joint venture kantor dan pembelian bahan bangunan/
Sales of goods, office building rental income
and purchases of building materials
Dewan Komisaris Manajemen personil kunci/ Gaji dan imbalan kerja jangka pendek
dan Direksi/ Key management personnel lainnya/Salaries and other short-term
Board of compensation benefits
Commissioners
and Directors
b. Saldo dengan pihak berelasi b. Balances with related parties
2024 2023
Piutang usaha Trade receivables
PT Caturkarda Depo Bangunan Tbk 8,018 6,361 PT Caturkarda Depo Bangunan Tbk
PT Megadepo Indonesia 5,202 5,936 PT Megadepo Indonesia
PT Bangun Bersama Solusindo 1,940 1,135 PT Bangun Bersama Solusindo
Lain-lain 1,159 586 Others
Jumlah 16,319 14,018 Total
Persentase terhadap jumlah aset 0.15% 0.13% Percentage to total assets
Piutang lain-lain Other receivables
PT Avia Avian Industri Pipa 70,752 46,376 PT Avia Avian Industri Pipa
PT Wahana Lentera Raya 10,293 6,086 PT Wahana Lentera Raya
Lain-lain 2,238 4,076 Others
Jumlah 83,283 56,538 Total
Persentase terhadap jumlah aset 0.75% 0.51% Percentage to total assets
Aset hak-guna Right-of-use assets
PT Sarana Depo Kencana 52,622 51,460 PT Sarana Depo Kencana
Persentase terhadap jumlah aset 0.48% 0.46% Percentage to total assets
53
Page 264
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
7. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI 7. BALANCES AND TRANSACTIONS WITH RELATED
(lanjutan) PARTIES (continued)
b. Saldo dengan pihak berelasi (lanjutan) b. Balances with related parties (continued)
2024 2023
Utang usaha Trade payables
PT Avia Avian Industri Pipa 207,725 160,993 PT Avia Avian Industri Pipa
PT Mitra Mulia Makmur 75,906 53,092 PT Mitra Mulia Makmur
PT Wahana Lentera Raya 47,315 32,379 PT Wahana Lentera Raya
PT Kencana Lintasindo Internasional 20,006 23,444 PT Kencana Lintasindo Internasional
PT Bangun Bersama Solusindo 8,234 6,305 PT Bangun Bersama Solusindo
PT Panca Kalsiumindo Perkasa 3,745 3,108 PT Panca Kalsiumindo Perkasa
Lain-lain 10 - Others
Jumlah 362,941 279,321 Total
Persentase terhadap jumlah
liabilitas 25.40% 22.43% Percentage to total liabilities
Utang lain-lain Other payables
Lain-lain 487 121 Others
Persentase terhadap jumlah
liabilitas 0.03% 0.01% Percentage to total liabilities
Pendapatan diterima dimuka Unearned revenue
Lain-lain 1,611 1,802 Others
Persentase terhadap jumlah
liabilitas 0.11% 0.14% Percentage to total liabilities
Liabilitas sewa Lease liabilities
PT Sarana Depo Kencana 52,622 4,186 PT Sarana Depo Kencana
Persentase terhadap jumlah Percentage to total
liabilitas 3.68% 0.34% liabilities
c. Transaksi dengan pihak berelasi c. Transactions with related parties
2024 2023
Pendapatan Revenue
PT Caturkarda Depo Bangunan Tbk 25,472 23,126 PT Caturkarda Depo Bangunan Tbk
PT Megadepo Indonesia 20,185 20,568 PT Megadepo Indonesia
PT Bangun Bersama Solusindo 8,667 4,545 PT Bangun Bersama Solusindo
PT Avia Avian Industri Pipa 3,520 2,729 PT Avia Avian Industri Pipa
Lain-lain 2,239 2,185 Others
Jumlah 60,083 53,153 Total
Persentase terhadap jumlah
pendapatan 0.80% 0.76% Percentage to total revenue
54
Page 265
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
7. SALDO DAN TRANSAKSI DENGAN PIHAK BERELASI 7. BALANCES AND TRANSACTIONS WITH RELATED
(lanjutan) PARTIES (continued)
c. Transaksi dengan pihak berelasi (lanjutan) c. Transactions with related parties (continued)
2024 2023
Pembelian persediaan Purchase of inventories
PT Avia Avian Industri Pipa 1,053,497 875,847 PT Avia Avian Industri Pipa
PT Mitra Mulia Makmur 315,826 311,327 PT Mitra Mulia Makmur
PT Wahana Lentera Raya 265,189 193,168 PT Wahana Lentera Raya
PT Kencana Lintasindo Internasional 114,947 107,078 PT Kencana Lintasindo Internasional
PT Panca Kalsiumindo Perkasa 36,718 30,283 PT Panca Kalsiumindo Perkasa
PT Bangun Bersama Solusindo 36,533 22,229 PT Bangun Bersama Solusindo
Lain-lain 2,657 6 Others
Jumlah 1,825,367 1,539,938 Total
Persentase terhadap jumlah Percentage to total cost of
beban pokok penjualan 44.19% 40.17% goods sold
Pendapatan sewa gedung kantor Factory and office building
dan pabrik rental income
PT Wahana Lentera Raya 1,211 1,114 PT Wahana Lentera Raya
Lain-lain 2,725 2,879 Others
Jumlah 3,936 3,993 Total
Persentase terhadap jumlah
pendapatan (beban) Percentage to total other income
lain-lain - neto 27.60% 50.25% (expenses) - net
d. Kompensasi manajemen kunci d. Key management compensation
Gaji dan kompensasi kesejahteraan jangka pendek Salaries and other short-term compensation benefits
lainnya yang dibebankan untuk Dewan Komisaris dan expensed to the Group’s Board of Commissioners and
Direksi Grup untuk tahun yang berakhir pada tanggal Directors for the years ended December 31, 2024 and
31 Desember 2024 dan 2023 masing-masing adalah 2023 amounted to Rp 106,949 and Rp 99,820,
sebesar Rp 106.949 dan Rp 99.820. respectively.
8. PIUTANG LAIN-LAIN 8. OTHER RECEIVABLES
2024 2023
Pihak berelasi (Catatan 7) 83,283 56,538 Related parties (Note 7)
Pihak ketiga Third parties
Piutang bunga investasi pada Interest receivables from investment
surat utang negara 37,779 40,100 in government bonds
Lain-lain 7,641 9,231 Others
Jumlah 128,703 105,869 Total
Berdasarkan penilaian manajemen atas kerugian kredit Based on management’s assessment of the expected
ekspektasian, manajemen Grup berkeyakinan bahwa credit losses, the management of the Group believes
kerugian kredit ekspektasian mendekati nol, sehingga that the expected credit losses are close to zero, as
pencadangan penurunan nilai atas piutang lain-lain tidak such, the provision for impairment of other receivables
diperlukan. is not necessary.
55
Page 266
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
9. PERSEDIAAN 9. INVENTORIES
2024 2023
Barang jadi 1,051,043 996,609 Finished goods
Bahan baku 266,785 303,031 Raw materials
Barang dalam proses 41,994 45,887 Work in process
Barang promosi 36,584 57,417 Promotional goods
Bahan pembantu 34,790 33,355 Supplies
Suku cadang 8,823 6,055 Spareparts
Persediaan dalam perjalanan 132,686 86,436 Inventories in transit
Sub-jumlah 1,572,705 1,528,790 Sub-total
Penyisihan persediaan usang Provision for obsolescence
dan lambat bergerak (14,502 ) (9,241 ) and slow-moving inventories
Jumlah 1,558,203 1,519,549 Total
Mutasi penyisihan persediaan usang dan lambat bergerak Movement in the provision for obsolescence and slow-
adalah sebagai berikut: moving inventories are as follows:
2024 2023
Saldo awal 9,241 13,291 Beginning balance
Penambahan (pemulihan) 5,261 (4,050 ) Addition (recovery)
Saldo akhir 14,502 9,241 Ending balance
Berdasarkan penelaahan atas kondisi dan tingkat Based on the review of the condition and turnover of the
perputaran persediaan, manajemen Grup berkeyakinan inventory items, the Group’s management believes that the
bahwa penyisihan persediaan usang dan lambat bergerak provision for obsolescence and slow-moving inventories is
tersebut cukup untuk menutup kemungkinan kerugian dari adequate to cover any possible losses from the decrease in
penurunan nilai persediaan. the value of inventories.
Pada tanggal 31 Desember 2024 dan 2023, seluruh As of December 31, 2024 and 2023, all inventories are
persediaan dijaminkan atas fasilitas pinjaman dari pledged as collateral for the loan facilities from PT Bank
PT Bank Mandiri (Persero) Tbk dengan perjanjian fidusia Mandiri (Persero) Tbk with fiduciary agreements totalling
senilai Rp 763.198 (Catatan 17). Rp 763,198 (Note 17).
Persediaan diasuransikan terhadap risiko kerugian Inventories are covered against losses from fire or theft and
kebakaran atau pencurian dan risiko lainnya berdasarkan other risks under blanket amounting to US$ 37.5 million and
suatu paket polis dengan nilai pertanggungan sebesar Rp 2,083,097 as of December 31, 2024, and US$ 57.6
AS$ 37,5 juta dan Rp 2.083.097 pada tanggal million and Rp 1,890,012 as of December 31, 2023, which in
31 Desember 2024, dan AS$ 57,6 juta dan Rp 1.890.012 management’s opinion are adequate to cover any possible
pada tanggal 31 Desember 2023, yang menurut pendapat losses arising from such risks.
manajemen cukup untuk menutup kemungkinan kerugian
atas risiko-risiko tersebut.
10. INVESTASI 10. INVESTMENTS
2024 2023
Surat utang negara 2,931,602 2,993,887 Government bonds
Reksa dana 21,298 20,200 Mutual funds
Deposito berjangka - 1,740,000 Time deposits
Jumlah 2,952,900 4,754,087 Total
56
Page 267
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
10. INVESTASI (lanjutan) 10. INVESTMENTS (continued)
a. Investasi jangka pendek a. Short-term investments
Investasi jangka pendek terdiri atas deposito Short-term investments comprise of time deposits with
berjangka dengan jangka waktu 6-12 bulan dari 6-12 months term from PT Bank Rakyat Indonesia
PT Bank Rakyat Indonesia (Persero) Tbk, PT Bank (Persero) Tbk, PT Bank Permata Tbk and PT Bank
Permata Tbk dan PT Bank Danamon Indonesia Tbk. Danamon Indonesia Tbk. The outstanding balance as
Saldo pada tanggal 31 Desember 2024 dan 2023 of December 31, 2024 and 2023 amounted to nill and
masing-masing adalah sebesar nihil dan Rp 1,740,000, respectively. All short-term investments
Rp 1.740.000. Seluruh investasi jangka pendek are denominated in Rupiah. Annual interest rate of the
didenominasi dalam mata uang Rupiah. Tingkat suku time deposits in December 31, 2024 and 2023 is
bunga deposito tersebut pada 31 Desember 2024 5.75% - 6.75% and 6.00% - 6.10%, respectively.
dan 2023 masing-masing adalah sebesar 5,75% -
6,75% dan 6,00% - 6,10%.
Lihat Catatan 32 mengenai risiko kredit dari investasi Refer to Note 32 on the credit risk of the short-term
jangka pendek untuk memahami bagaimana Grup investments to understand how the Group manages
mengelola dan mengukur kualitas kredit atas and measures the credit quality of short-term
investasi jangka pendek. investments.
b. Investasi pada surat utang negara b. Investment in government bonds
Seluruh investasi pada surat utang negara All investment in government bonds are denominated
didenominasi dalam mata uang Rupiah. in Rupiah.
SUN diterbitkan oleh Pemerintah Republik Indonesia SUN issued by the Government of the Republic of
dengan tingkat suku bunga tetap antara 5,13% Indonesia bear fixed interest rates ranging from 5.13%
hingga 8,25% per tahun dan akan jatuh tempo pada to 8.25% per annum and will be due on various dates
berbagai tanggal antara tanggal 15 Juni 2025 sampai from June 15, 2025 to April 15, 2032. Investment in
dengan 15 April 2032. Investasi pada SUN akan government bonds is used for the Group’s working
digunakan untuk keperluan modal kerja Grup dan capital purpose and construction of the factory in
pembangunan pabrik di Cirebon, sehingga investasi Cirebon, as such, the investment is presented as
tersebut disajikan sebagai aset lancar pada laporan current assets in the consolidated statement of
posisi keuangan konsolidasian. financial position.
Bunga atas SUN ini akan diterima setiap 6 The interest of the SUN will be received every 6 (six)
(enam) bulan sekali. Pendapatan bunga efektif yang months. Effective interest income earned during the
diperoleh selama tahun berjalan pada 31 Desember year December 31, 2024 and 2023 amounted to
2024 dan 2023 masing-masing adalah sebesar Rp 154,994 and Rp 149,646, respectively (Note 28).
Rp 154.994 dan Rp 149.646 (Catatan 28).
Pada tanggal 31 Desember 2024 dan 2023, kerugian As of December 31, 2024 and 2023, the net unrealised
nilai wajar neto yang belum direalisasi atas investasi loss of fair value on investment in debt instruments of
pada instrumen utang masing-masing sebesar Rp 103,357 and Rp 56,408, respectively, was
Rp 103.357 dan Rp 56.408 diakui dalam ekuitas recognised in equity under changes in fair value of
sebagai perubahan nilai wajar atas investasi pada investment in government bonds.
surat utang negara.
Untuk tahun yang berakhir pada tanggal For the year ended December 31, 2024 and 2023, the
31 Desember 2024 dan 2023, kerugian neto atas nilai net loss in fair value amounted to nill and Rp 30,857,
wajar masing-masing sebesar nihil dan Rp 30.857 respectively, has been reclassified from equity to profit
telah direklasifikasi dari ekuitas ke laba rugi tahun or loss in current year.
berjalan.
Manajemen berpendapat bahwa tidak terdapat The management is of the opinion that there are no
kejadian-kejadian atau perubahan keadaan yang events or changes in circumstances that indicate a
mengindikasikan adanya bukti objektif penurunan permanent decline in the fair value of the financial
nilai wajar aset keuangan pada nilai wajar melalui assets at FVOCI, therefore, no provision for impairment
penghasilan komprehensif lain, sehingga, tidak is necessary.
diperlukan cadangan penurunan.
57
Page 268
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. PROPERTI INVESTASI 11. INVESTMENT PROPERTIES
2024 2023
Tanah 272,487 272,487 Land
Bangunan 18,023 17,626 Building
Jumlah 290,510 290,113 Total
Mutasi perubahan properti investasi adalah sebagai The movement of investment properties is as follows:
berikut:
2024 2023
Saldo awal 290,113 285,986 Beginning balance
Perubahan nilai wajar 397 4,127 Changes in fair value
Saldo akhir 290,510 290,113 Ending balance
Properti investasi berupa bangunan yang merupakan Building held in investment properties represents the office
gedung perkantoran yang terletak di Jl. Ahmad Yani building located on Jl. Ahmad Yani No. 317, Dukuh
No. 317, Dukuh Menanggal, Gayungan, Surabaya, Jawa Menanggal, Gayungan, Surabaya, Jawa Timur and land
Timur, serta tanah yang terletak di Makassar seluas located in Makassar covering an area of 175,798 m 2 that is
175.798 m2 yang dimiliki sendiri oleh Grup. Bangunan owned by the Group. Buildings represents office building
merupakan gedung perkantoran dalam kontrak Bangun under Build, Operate and Transfer (“BOT”) contract for
Guna Serah (“BOT”) selama 30 tahun yang disewakan 30 years that are rented to related parties, while the land is
kepada pihak-pihak berelasi, sedangkan tanah merupakan empty land for which management has not yet determined
tanah kosong dimana manajemen belum menentukan the intended use.
tujuan penggunaannya.
Nilai wajar properti investasi pada tanggal The fair values of investment properties as of December
31 Desember 2024 dan 2023 didasarkan pada penilaian 31, 2024 and 2023 are based on valuations performed by
yang dilakukan oleh penilai independen, Kantor Jasa independent appraisals, Kantor Jasa Penilai Publik
Penilai Publik (“KJPP”) Suhartanto Budhihardjo dan Rekan (“KJPP”) Suhartanto Budhihardjo dan Rekan through its
melalui laporannya masing-masing pada tanggal reports dated January 21, 2025 and January 31, 2024,
21 Januari 2025 dan 31 Januari 2024 (untuk tanah) dan respectively (for land) and KJPP Iskandar dan Rekan dated
KJPP Iskandar dan Rekan masing-masing pada tanggal January 24, 2025 and February 13, 2024, respectively (for
24 Januari 2025 dan 13 Februari 2024 (untuk bangunan). building).
Tidak terdapat perpindahan antar level atas pengukuran There was no inter-level transfers of fair value
nilai wajar selama tahun berjalan. measurement during the current year.
Jumlah yang diakui dalam laporan laba rugi dan Amounts recognised in the consolidated statements of
penghasilan komprehensif lain konsolidasian atas properti profit or loss and other comprehensive income for
investasi selama tahun 2024 dan 2023 adalah sebagai investment properties during the year 2024 and 2023 are as
berikut: follows:
2024 2023
Pendapatan sewa berasal dari Rental income derived from
properti investasi 3,219 2,960 investment properties
Biaya operasi langsung Direct operating expenses
(termasuk perbaikan dan (including repairs and
pemeliharaan) (2,579 ) (4,360) maintenance)
Perubahan nilai wajar 397 4,127 Changes in fair value
Pengukuran nilai wajar atas properti investasi tanah The fair value measurement of land held in investment
menggunakan Level 2 hierarki nilai wajar. Penilaian atas properties uses Level 2 of the fair value hierarchy. The
properti investasi tanah dilakukan dengan pendekatan valuation of land held in investment property is carried out
pasar. using the market approach.
58
Page 269
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. PROPERTI INVESTASI (lanjutan) 11. INVESTMENT PROPERTIES (continued)
Input yang paling signifikan dalam pendekatan penilaian The most significant input in this approach is the land price
ini adalah asumsi harga tanah per meter persegi (m2) yang per square meter (m2) assumption which is based on the
didasarkan dari harga pasar tanah di sekitar lokasi, market price of land located in the vicinity, adjusted for the
disesuaikan dengan perbedaan atribut utama seperti jenis difference in main attributes such as the type and rights on
dan hak yang melekat pada properti, lokasi, karakteristik the property, location, physical characteristics, size and use
fisik, ukuran, dan penggunaan aset, sebagai berikut: of the assets, as follows:
2024 2023
Tanah Land
Harga per m2 (nilai penuh) 1,550,000 1,550,000 Price per m2 (full amount)
Pengukuran nilai wajar atas properti investasi bangunan The fair value measurement of building held in investment
menggunakan Level 3 hierarki nilai wajar. Penilaian atas properties uses Level 3 of the fair value hierarchy. The
properti investasi bangunan dengan pendekatan valuation of building held in investment property is carried
pendapatan (metode arus kas diskontoan). Input yang out using an income approach (discounted cash flow
tidak dapat diobservasi yang digunakan dalam method). Unobservable input used in determining the fair
menentukan nilai wajar properti investasi bangunan adalah value of building held in investment properties is as follows:
sebagai berikut:
2024 2023
Bangunan Building
Tarif sewa per m2 (termasuk biaya jasa - Rental rate per m2 (including - service
nilai penuh) 2,230,000 2,200,000 charge full amount)
Tingkat diskonto 10.02% 10.62% Discount rate
Rincian properti investasi Grup yang diukur pada nilai Details of the Group’s investment properties measured at
wajar dan informasi hirarki nilai wajar adalah sebagai fair value and information about the fair value hierarchy are
berikut: as follows:
2024
Level 1 Level 2 Level 3 Total
Tanah tidak dipakai - 272,487 - 272,487 Unused land
Bangunan yang
disewakan - - 18,023 18,023 Leased-out properties
Jumlah - 272,487 18,023 290,510 Total
2023
Level 1 Level 2 Level 3 Total
Tanah tidak dipakai - 272,487 - 272,487 Unused land
Bangunan yang
disewakan - - 17,626 17,626 Leased-out properties
Jumlah - 272,487 17,626 290,113 Total
59
Page 270
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
11. PROPERTI INVESTASI (lanjutan) 11. INVESTMENT PROPERTIES (continued)
Sensitivitas dari nilai wajar properti investasi Sensitivity of fair value of building investment property on
bangunan terhadap asumsi utama adalah sebagai berikut: the principal assumptions is as follows:
Perubahan nilai wajar/Changes in fair value
Kenaikan asumsi/ Penurunan asumsi/
Perubahan asumsi/ Increase in Decrease in
Changes in assumption assumption
Asumsi assumption 2024 2023 2024 2023 Assumptions
Bangunan Building
Tarif sewa (termasuk 1% Kenaikan Kenaikan Penurunan Penurunan Rental rate (including
biaya jasa) sebesar/ sebesar/ sebesar/ sebesar/ service charge)
increase increase decrease decrease
by 0.94% by 0.96% by 0.94% by 0.96%
Tingkat diskonto 1% Penurunan Penurunan Kenaikan Kenaikan Discount rate
sebesar/ sebesar/ sebesar/ sebesar/
decrease decrease increase increase
by 0.82% by 0.91% by 0.83% by 0.92%
12. ASET TETAP - NETO 12. FIXED ASSETS - NET
2024
Saldo awal/ Saldo akhir/
Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Revaluasi/ Ending
balance Additions Deductions Reclassifications Revaluation balance
Nilai revaluasi Revalued amount
Tanah 543,234 - - - - 543,234 Land
Harga perolehan Cost
Kepemilikan langsung Direct ownership
Bangunan dan Buildings and
prasarana 399,917 2,586 (57) 10,077 - 412,523 improvements
Mesin dan Machinery and
peralatan 814,580 8,448 (2,015) 48,395 - 869,408 equipment
Instalasi listrik 97,733 420 - 340 - 98,493 Electricity installations
Kendaraan 325,524 62,388 (31,017) - - 356,895 Vehicles
Peralatan kantor 215,545 39,684 (1,451) - - 253,778 Office equipment
Sub-jumlah 2,396,533 113,526 (34,540) 58,812 - 2,534,331 Sub-total
Aset tetap dalam Assets under
pembangunan 93,712 319,661 - (58,812) - 354,561 construction
Sub-jumlah 2,490,245 433,187 (34,540) - - 2,888,892 Sub-total
Akumulasi Accumulated
penyusutan depreciation
Kepemilikan langsung Direct ownership
Bangunan dan Buildings and
prasarana 94,564 13,223 (25) - - 107,762 improvements
Mesin dan Machinery and
peralatan 420,239 61,123 (1,311) - - 480,051 equipment
Instalasi listrik 43,841 8,368 - - - 52,209 Electricity installations
Kendaraan 139,834 41,474 (22,774) - - 158,534 Vehicles
Peralatan kantor 132,604 28,046 (611) - - 160,039 Office equipment
Sub-jumlah 831,082 152,234 (24,721) - - 958,595 Sub-total
Nilai buku 1,659,163 1,930,297 Net book value
60
Page 271
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
12. ASET TETAP - NETO (lanjutan) 12. FIXED ASSETS - NET (continued)
2023
Saldo awal/ Saldo akhir/
Beginning Penambahan/ Pengurangan/ Reklasifikasi/ Revaluasi/ Ending
balance Additions Deductions Reclassifications Revaluation balance
Nilai revaluasi Revalued amount
Tanah 540,322 - - - 2,912 543,234 Land
Harga perolehan Cost
Kepemilikan langsung Direct ownership
Bangunan dan Buildings and
prasarana 377,175 2,029 - 20,713 - 399,917 improvements
Mesin dan Machinery and
peralatan 770,821 7,420 (3,594 ) 39,933 - 814,580 equipment
Instalasi listrik 94,601 516 - 2,616 - 97,733 Electricity installations
Kendaraan 301,189 62,221 (37,886 ) - - 325,524 Vehicles
Peralatan kantor 178,760 37,228 (443 ) - - 215,545 Office equipment
Sub-jumlah 2,262,868 109,414 (41,923 ) 63,262 2,912 2,396,533 Sub-total
Aset tetap dalam Assets under
pembangunan 50,665 106,309 - (63,262) - 93,712 construction
Sub-jumlah 2,313,533 215,723 (41,923 ) - 2,912 2,490,245 Sub-total
Akumulasi Accumulated
penyusutan depreciation
Kepemilikan langsung Direct ownership
Bangunan dan Buildings and
prasarana 82,053 12,511 - - - 94,564 improvements
Mesin dan Machinery and
peralatan 365,258 57,703 (2,722 ) - - 420,239 equipment
Instalasi listrik 35,221 8,620 - - - 43,841 Electricity installations
Kendaraan 132,620 37,161 (29,947 ) - - 139,834 Vehicles
Peralatan kantor 110,295 22,521 (212 ) - - 132,604 Office equipment
Sub-jumlah 725,447 138,516 (32,881 ) - - 831,082 Sub-total
Nilai buku 1,588,086 1,659,163 Net book value
Beban penyusutan dibebankan sebagai berikut: The depreciation expenses were charged to the following:
2024 2023
Beban pabrikasi (Catatan 26) 34,775 32,099 Factory overhead (Note 26)
Beban penjualan (Catatan 27) 74,485 69,286 Selling expenses (Note 27)
Beban umum dan administrasi General and administrative expenses
(Catatan 27) 42,974 37,131 (Note 27)
Jumlah 152,234 138,516 Total
Nilai perolehan dari setiap aset tetap yang telah The costs of fixed assets that have been fully depreciated
disusutkan penuh namun masih digunakan pada but still being utilised as of December 31, 2024 and 2023
31 Desember 2024 dan 2023 masing-masing sebesar are amounted to Rp 119,872 and Rp 106,921, respectively,
Rp 119.872 dan Rp 106.921, terdiri atas mesin dan consisting of machinery and equipment, electricity
peralatan, instalasi listrik dan peralatan kantor. installations and office
equipment.
Rincian pelepasan aset tetap adalah sebagai berikut: The details of disposal of fixed assets are as follows:
2024 2023
Penerimaan dari pelepasan aset tetap 11,156 14,094 Proceeds from disposal of fixed assets
Nilai buku aset tetap yang dijual (9,819 ) (9,042) Net book value of disposed fixed assets
Keuntungan pelepasan aset tetap Gain on disposal of fixed assets
(Catatan 30) 1,337 5,052 (Note 30)
61
Page 272
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
12. ASET TETAP - NETO (lanjutan) 12. FIXED ASSETS - NET (continued)
Aset tetap dalam pembangunan merupakan proyek yang Fixed assets under construction represents projects that
masih belum selesai pada tanggal laporan keuangan have not been completed at the date of the consolidated
konsolidasian dengan rincian sebagai berikut: financial statements with the details as follows:
Perkiraan % penyelesaian/
Estimated % of completion
2024 2023
Bangunan dan prasarana 20% - 80% 5% - 70% Buildings and improvements
Mesin dan peralatan 70% - 95% 5% - 90% Machinery and equipment
Instalasi listrik 90% - 95% 5% - 80% Electricity installations
Aset tetap dalam pembangunan pada tanggal The estimated completion date of the assets under
31 Desember 2024 dan 2023 diperkirakan akan selesai construction as of December 31, 2024 and 2023 will be in
pada tahun 2025-2026. 2025-2026.
Tidak ada perbedaan yang material antara nilai wajar dan There is no material difference between the fair value and
nilai tercatat dari aset tetap Grup selain tanah. carrying value of the Group’s fixed assets other than land.
Jika tanah milik Grup diukur berdasarkan biaya historis, Had the Group’s land been measured on historical cost
jumlah tercatatnya akan menjadi Rp 300.962 pada tanggal basis, their carrying amount would have been Rp 300,962
31 Desember 2024 dan 2023. as of December 31, 2024 and 2023.
Grup memiliki beberapa bidang tanah dengan rincian The Group has land properties with the details as follows:
sebagai berikut:
Lokasi/Location Luasan/Area Penggunaan lahan/Land utilization
Sidoarjo 105,121 m2 Pabrik/Factory
Serang 36,880 m2 Pabrik/Factory
Medan 22,652 m2 Pabrik/Factory
Cirebon 110,211 m2 Pabrik/Factory
Bekasi 2,992 m2 Pabrik/Factory
Hak atas tanah Grup berupa Sertifikat Hak Guna The Group’s land represents land-use rights (“SHGB”) that
Bangunan (“SHGB”) yang memiliki masa berlaku antara will expire between 2026 until 2049. Management believes
tahun 2026 hingga 2049. Manajemen berpendapat bahwa that the SHGB can be extended.
SHGB tersebut dapat diperpanjang.
Tanah diukur dengan metode revaluasian. Pengukuran Land is measured using the revaluation model. The fair
nilai wajar tahun 2023 dilakukan oleh KJPP Suhartanto value measurement for the year 2023 was carried out by
Budhihardjo dan Rekan, selaku penilai independen, dalam KJPP Suhartanto Budhihardjo dan Rekan, an independent
laporannya tanggal 31 Januari 2024 dan 15 Februari 2024. appraiser, in its reports dated January 31, 2024 and
February 15, 2024.
Pengukuran nilai wajar atas tanah menggunakan Level 2 The fair value measurement of land uses Level 2 of the fair
hierarki nilai wajar. Penilaian atas tanah dilakukan dengan value hierarchy. The valuation of the land is carried out
pendekatan pasar. Input yang paling signifikan dalam using the market approach. The most significant input in
pendekatan penilaian ini adalah asumsi harga tanah per this approach is the land price per square metre (m 2)
meter persegi (m2) yang didasarkan dari harga pasar assumption which is based on the market price of land
tanah di sekitar lokasi, disesuaikan dengan perbedaan located in the vicinity, adjusted for the difference in main
atribut utama seperti jenis dan hak yang melekat pada attributes such as the type and rights on the property,
properti, lokasi, karakteristik fisik, ukuran, dan penggunaan location, physical characteristics, size and use of the
aset. Asumsi harga tanah per m2 yang digunakan pada assets. The assumption land price per m2 used in 2023
tahun 2023 adalah berkisar antara Rp 1.190.000 - Rp ranges from Rp 1,190,000 - Rp 4,000,000 (full amount) per
4.000.000 (nilai penuh) per m2. m2.
62
Page 273
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
12. ASET TETAP - NETO (lanjutan) 12. FIXED ASSETS - NET (continued)
Pada tanggal 31 Desember 2024 dan 2023, aset tetap As of December 31, 2024 and 2023, certain fixed assets are
tertentu dijaminkan atas fasilitas pinjaman dari PT Bank pledged as collateral for the loan facilities from PT Bank
Mandiri (Persero) Tbk dan PT Bank OCBC NISP Tbk Mandiri (Persero) Tbk and PT Bank OCBC NISP Tbk with
dengan perjanjian fidusia dan perjanjian Hak Tanggungan fiduciary and mortgage agreements over certain fixed
terhadap aset tetap tertentu senilai Rp 967.990 assets amounting to Rp 967,990 (Note 17).
(Catatan 17).
Aset tetap, kecuali tanah, diasuransikan terhadap risiko Fixed assets, except for land, are covered against losses
kerugian kebakaran dan risiko lain berdasarkan suatu from fire and other risks under blanket policies amounting to
paket polis dengan nilai pertanggungan sebesar AS$ 50,1 US$ 50.1 million and Rp 1,580,524 as of December 31,
juta dan Rp 1.580.524 pada tanggal 31 Desember 2024 2024 and US$ 49.2 million and Rp 1,521,113 as of
dan AS$ 49,2 juta dan Rp 1.521.113 pada tanggal December 31, 2023. Management is of the opinion that the
31 Desember 2023. Manajemen berpendapat bahwa nilai sum insured is adequate to cover any possible losses
pertanggungan tersebut cukup untuk menutup arising from such risks.
kemungkinan kerugian atas risiko-risiko tersebut.
Berdasarkan evaluasi yang dilakukan manajemen, tidak Based on management’s evaluation, there were no events
terdapat kejadian atau perubahan atas keadaan yang or changes in circumstances which might indicate an
menunjukkan adanya penurunan nilai aset tetap pada impairment in the value of fixed assets as of
tanggal 31 Desember 2024 dan 2023. December 31, 2024 and 2023.
Pada tanggal 31 Desember 2024 dan 2023 tidak ada aset As of December 31, 2024 and 2023 there were no idle fixed
tetap yang tidak digunakan. assets.
13. INVESTASI PADA VENTURA BERSAMA 13. INVESTMENT IN JOINT VENTURE
2024 2023
Saldo awal 17,298 16,400 Beginning balance
Bagian atas laba
ventura bersama 2,678 898 Share of profit of a joint venture
Nilai tercatat 19,976 17,298 Carrying amount
Pada tanggal 31 Desember 2024 dan 2023, ventura As of December 31, 2024 and 2023, the joint venture of the
bersama yang dimiliki oleh Grup adalah sebagai berikut: Group is follows:
Nama entitas/ Domisili/ Persentase kepemilikan/ Kegiatan usaha/
Entity name Domicile Percentage of ownership Business activity
PT Bangun Bersama Industri semen, mortar dan beton/
Solusindo Indonesia 50% Industry of cement, mortar and concrete
2024 2023
Aset lancar 52,842 42,192 Current assets
Aset tidak lancar 694 870 Non-current assets
Liabilitas jangka pendek 13,002 8,053 Current liabilities
Liabilitas jangka panjang 583 412 Non-current liabilities
Pendapatan 40,757 26,065 Revenue
Laba tahun berjalan 5,356 1,797 Profit for the year
Jumlah laba komprehensif tahun Total comprehensive profit
berjalan 5,356 1,797 for the year
Arus kas yang diperoleh dari Cash flows provided by
(digunakan untuk) aktivitas operasi 1,672 (286) (used in) operating activities
Arus kas yang digunakan untuk Cash flows used in
aktivitas investasi (16 ) (60) investing activities
63
Page 274
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
13. INVESTASI PADA VENTURA BERSAMA (lanjutan) 13. INVESTMENT IN JOINT VENTURE (continued)
Rekonsiliasi atas ringkasan informasi keuangan yang The reconciliation of the summarised financial information
disajikan terhadap nilai buku dari kepentingan Grup dalam presented to the carrying amount of the Group’s interests in
ventura bersama adalah sebagai berikut: the joint venture is as follows:
2024 2023
Pada awal tahun 34,597 32,800 At the beginning of the year
Jumlah penghasilan Total comprehensive income
komprehensif tahun berjalan 5,356 1,797 for the year
Pada akhir tahun 39,953 34,597 At the end of the year
Persentase kepemilikan 50% 50% Percentage of ownership
Nilai tercatat 19,976 17,298 Carrying amount
Pada tanggal 31 Desember 2024 dan 2023, manajemen As of December 31, 2024 and 2023, management believes
berkeyakinan bahwa tidak terdapat indikasi penurunan that there are no impairment indicators on the carrying
nilai atas nilai tercatat investasi pada ventura bersama. amounts of investment in joint venture.
14. UTANG USAHA 14. TRADE PAYABLES
2024 2023
Pihak berelasi - Rupiah (Catatan 7) 362,941 279,321 Related parties - Rupiah (Note7)
Pihak ketiga: Third parties:
Rupiah 269,565 255,394 Rupiah
Dolar AS 79,732 75,147 US Dollar
CNY 63,499 21,896 CNY
Euro 7,307 16,845 Euro
SGD 4,456 2,055 SGD
GBP 201 - GBP
Sub-jumlah 424,760 371,337 Sub-total
Jumlah 787,701 650,658 Total
Utang usaha yang merupakan bagian dari pengaturan Trade payables of which amounts that are part of supplier
pembiayaan pemasok sebesar Rp 75.906 pada tanggal finance arrangements as of December 31, 2024 amounted
31 Desember 2024 (Catatan 33). to Rp 75,906 (Note 33).
Jangka waktu kredit dari pembelian bahan baku utama Purchases of raw and indirect materials, have credit terms
dan pembantu, berkisar 30 sampai dengan 60 hari (tidak of 30 to 60 days (excluding supplier finance arrangements)
termasuk pengaturan keuangan pemasok) dan 45 hingga and 45 to 60 days (including supplier finance
60 hari (termasuk pengaturan keuangan pemasok). arrangements).
15. BEBAN AKRUAL 15. ACCRUED EXPENSES
2024 2023
Pemasaran dan promosi 187,362 237,647 Marketing and promotion
Ongkos angkut 31,184 26,938 Freight
Komisi penjualan 28,659 32,326 Sales commission
Lain-lain 5,456 4,924 Others
Jumlah 252,661 301,835 Total
64
Page 275
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
16. SEWA 16. LEASE
Grup memiliki kontrak sewa bangunan yang digunakan The Group has lease contracts for buildings used in its
dalam operasinya. Grup dibatasi untuk menyewakan operation. The Group is restricted from assigning and
kembali aset sewaan. Kontrak sewa ini merupakan sewa subleasing the leased assets. These lease contracts
bangunan oleh PT TKTW dan PT TKBI, dari PT Sarana represent leases for buildings by PT TKTW and PT TKBI,
Depo Kencana, pihak berelasi, dan dari pihak ketiga, yang from PT Sarana Depo Kencana, a related party, and from
digunakan sebagai kantor cabang. third parties, which are used as branch offices.
Grup juga memiliki sewa peralatan kantor dengan nilai The Group also has certain leases of office equipment with
yang rendah. Grup menerapkan pengecualian pengakuan low value. The Group applies the ‘lease of low-value assets’
‘sewa aset bernilai rendah’ untuk sewa tersebut. recognition exemptions for these leases.
Di bawah ini adalah jumlah tercatat dari aset hak-guna Below are the carrying amounts of right-of-use assets
yang diakui pada laporan posisi keuangan konsolidasian recognised on the Group’s consolidated statement of
Grup dan mutasinya: financial position and its movements:
2024
Saldo awal/ Saldo akhir/
Beginning Penambahan/ Pengurangan/ Ending
balance Additions Deduction balance
Harga perolehan Acquisition cost
Bangunan 235,090 121,861 (127,615 ) 229,336 Buildings
Akumulasi penyusutan Accumulated depreciation
Bangunan 84,539 91,463 (127,615 ) 48,387 Buildings
Nilai tercatat 150,551 180,949 Carrying amount
2023*)
Saldo awal/ Saldo akhir/
Beginning Penambahan/ Pengurangan/ Ending
balance Additions Deduction balance
Harga perolehan Acquisition cost
Bangunan 322,006 92,411 (179,327) 235,090 Buildings
Akumulasi penyusutan Accumulated depreciation
Bangunan 189,816 74,050 (179,327 ) 84,539 Buildings
Nilai tercatat 132,190 150,551 Carrying amount
* Setelah direklasifikasi (Catatan 36)
)
* As reclassified (Note 36)
)
Jumlah yang diakui dalam laporan laba rugi dan Amounts recognised in the consolidated statement of profit
penghasilan komprehensif lain konsolidasian adalah or loss and other comprehensive income are as follows:
sebagai berikut:
2024 2023
Beban penyusutan aset hak-guna - Depreciation of right-of-use assets -
beban penjualan (Catatan 27) 90,604 73,478 selling expenses (Note 27)
Beban penyusutan aset hak-guna - Depreciation of right-of-use assets -
beban administrasi dan umum general and administrative expenses
(Catatan 27) 859 572 (Note 27)
Beban bunga atas liabilitas sewa Interest expense on lease liabilities
(Catatan 29) 2,011 3,724 (Note 29)
Sewa aset bernilai rendah dan Low value assets and
sewa jangka pendek 691 759 short-term lease
Jumlah 94,165 78,533 Total
65
Page 276
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
16. SEWA (lanjutan) 16. LEASE (continued)
Di bawah ini adalah jumlah tercatat dari liabilitas sewa Below are the carrying amounts of lease liabilities
yang diakui pada laporan posisi keuangan konsolidasian recognised on the Group’s consolidated statement of
Grup: financial position:
2024 2023
Saldo awal 26,690 73,533 Beginning balance
Penambahan 82,261 11,993 Additions
Pembayaran (24,758 ) (58,836 ) Payments
Saldo akhir 84,193 26,690 Ending balance
Dikurangi: Bagian lancar (64,777 ) (10,965 ) Less: Current portion
Bagian tidak lancar 19,416 15,725 Non-current portion
Pembayaran sewa operasi minimum di masa mendatang, Future minimum lease payments under operating leases
serta nilai kini atas pembayaran minimum sewa operasi together with the present value of the minimum lease
pada tanggal 31 Desember 2024 dan 2023 adalah sebagai payments as of December 31, 2024 and 2023 were as
berikut: follows:
2024 2023
Liabilitas sewa bruto - pembayaran Lease liabilities - future
sewa dimasa mendatang lease payments
Tidak lebih dari 1 tahun 66,112 11,910 Less than 1 year
1-5 tahun 14,767 13,709 1-5 years
Lebih dari 5 tahun 18,604 9,484 More than 5 years
Jumlah 99,483 35,103 Total
Beban keuangan dimasa depan atas Future finance charges
liabilitas sewa (15,290 ) (8,413 ) of lease liabilities
Nilai kini liabilitas sewa 84,193 26,690 Present value of lease liabilities
2024 2023
Nilai kini liabilitas sewa adalah Present value of lease liabilities
sebagai berikut: is as follows:
Tidak lebih dari 1 tahun 64,777 10,965 Less than 1 year
1-5 tahun 10,216 11,533 1-5 years
Lebih dari 5 tahun 9,200 4,192 More than 5 years
Jumlah 84,193 26,690 Total
Tidak ada pembatasan signifikan yang ditetapkan oleh There is no significant restriction imposed by lease
lessor dalam perjanjian sewa pembiayaan dengan Grup arrangements between the lessor and the Group on the use
terkait dengan penggunaan aset atau pencapaian kinerja of the assets or maintenance of certain financial
keuangan tertentu. performance.
17. PINJAMAN BANK JANGKA PENDEK 17. SHORT-TERM BANK LOANS
2024 2023
PT Bank OCBC NISP Tbk 9,189 5,222 PT Bank OCBC NISP Tbk
Jumlah 9,189 5,222 Total
66
Page 277
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
17. PINJAMAN BANK JANGKA PENDEK (lanjutan) 17. SHORT-TERM BANK LOANS (continued)
Grup memiliki beberapa fasilitas pinjaman sebagai berikut: The Group has several loan facilities as follows:
Pemberi Tanggal jatuh Tingkat suku
Nama entitas/ pinjaman/ Jenis fasilitas/ Mata uang/ Jumlah fasilitas/ tempo/ bunga/ Jaminan/
Entity name Lender Facility type Currency Total facility Maturity date Interest rate Collateral
PT Avia Avian PT Bank Mandiri Kredit Modal Kerja/ Rupiah Rp940,000 27 Agustus/ 4.25% Piutang usaha, persediaan,
Tbk (Persero) Tbk Working Capital Loan August 2025 dan aset tetap/
Trade receivables, inventories
and fixed assets
Letter of Credit (“L/C”) Dolar AS/ AS$/US$1,500,000
Impor atau SKBDN/ US Dollar
Import L/C or SKBDN
Treasury Line Dolar AS/ AS$/US$10,000,000
US Dollar
Bank Garansi/ Rupiah Rp2,000
Bank Guarantee
PT TKTW PT Bank Mandiri Kredit Modal Kerja/ Rupiah Rp550,000 27 Agustus/ 4.25% Piutang usaha, persediaan,
(Persero) Tbk Working Capital Loan August 2025 dan tanah milik
PT Sarana Depo
Kencana/
Trade receivables, inventories.
and PT Sarana Depo
Kencana’s land
PT MPI PT Bank OCBC Fasilitas cerukan/ Rupiah Rp10,000 10 Maret/ 7.45% Tanah dan bangunan/
NISP Tbk Overdraft facility March 2025 Land and building
Pada tanggal 31 Desember 2024 dan 2023, Grup memiliki As of December 31, 2024 and 2023, the Group has
fasilitas pinjaman dari PT Bank Mandiri (Persero) Tbk yang undrawn facilities from PT Bank Mandiri (Persero) Tbk.
belum digunakan.
Dana yang diperoleh dari pinjaman bank digunakan untuk The funds received from the bank loans are used for
modal kerja. Bank garansi dari PT Bank Mandiri (Persero) working capital. Bank guarantee from PT Bank Mandiri
Tbk digunakan untuk jaminan pembayaran pembelian gas (Persero) Tbk is used for payment guarantee for gas
dari PT Perusahaan Gas Negara (Persero). procurement from PT Perusahaan Gas Negara (Persero).
Berdasarkan perjanjian pinjaman, debitur diharuskan Under the loan agreements, the borrowers are required to
untuk memenuhi persyaratan tertentu, seperti persyaratan fulfill certain covenants, such as financial covenants and
rasio keuangan dan persyaratan administrasi. Pada administrative requirements. As of December 31, 2024, the
tanggal 31 Desember 2024, Grup telah memenuhi Group has complied with the financial covenants and
persyaratan rasio keuangan dan persyaratan administrasi administrative requirements as well as had obtained the
serta telah memperoleh surat persetujuan waiver letter from PT Bank OCBC NISP Tbk for the ratios
pengesampingan dari PT Bank OCBC NISP Tbk atas rasio that not complied the requirements.
yang tidak memenuhi persyaratan.
18. LIABILITAS IMBALAN KERJA 18. EMPLOYEE BENEFIT LIABILITIES
2024 2023
Imbalan kerja jangka pendek 103,376 92,174 Short-term employee benefits
Imbalan pascakerja 63,336 59,521 Post-employment benefits
Jumlah 166,712 151,695 Total
Dikurangi : Liabilitas jangka pendek (108,618 ) (97,052 ) Less : Current liabilities
Liabilitas jangka panjang 58,094 54,643 Non-current liabilities
a. Imbalan kerja jangka pendek a. Short-term employee benefits
Imbalan kerja jangka pendek terdiri atas akrual atas Short-term employee benefits comprise accruals for
gaji, tunjangan hari raya, dan bonus yang akan salary, religious allowance and bonus which will be paid
dibayarkan pada tahun 2024 dan 2025. in 2024 and 2025.
67
Page 278
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
18. LIABILITAS IMBALAN KERJA (lanjutan) 18. EMPLOYEE BENEFIT LIABILITIES (continued)
b. Liabilitas imbalan pascakerja b. Post-employment benefits liability
Grup mengakui liabilitas imbalan kerja karyawan yang The Group recognised an unfunded employee benefits
tidak didanai berdasarkan peraturan yang berlaku. liability in accordance with the applicable regulation. The
Liabilitas imbalan pascakerja dihitung menggunakan post-employment benefits liability is calculated using the
metode Projected Credit Unit. Projected Credit Unit method.
Liabilitas imbalan pascakerja dihitung oleh aktuaris The post-employment benefits liability is calculated by
independen, Kantor Konsultan Aktuaria Riana dan the independent actuary, Kantor Konsultan Aktuaria
Rekan, dalam laporannya tanggal 24 Januari 2025 dan Riana dan Rekan, in its reports dated January 24, 2025
31 Januari 2025 untuk 31 Desember 2024 dan and January 31, 2025 for December 31, 2024 and
25 Januari 2024 dan 29 Januari 2024 untuk January 25, 2024 and January 29, 2024 for
31 Desember 2023. December 31, 2023.
Jumlah yang diakui pada laba rugi konsolidasian The amount recognised in consolidated profit or loss is
adalah sebagai berikut: as follows:
2024 2023
Biaya jasa kini 7,776 7,627 Current service cost
Biaya bunga 3,662 3,206 Interest cost
Biaya jasa lalu (2,183 ) 110 Past service cost
Jumlah beban imbalan kerja 9,255 10,943 Total employee benefits expense
Mutasi nilai kini liabilitas imbalan pascakerja adalah Movements in the present value of post-employment
sebagai berikut: benefits liability are as follows:
2024 2023
Saldo awal 59,521 47,588 Beginning balance
Beban imbalan kerja 9,255 10,943 Employee benefits expense
Pembayaran manfaat (5,484 ) (3,340 ) Benefits paid
Kerugian aktuaria neto Net actuarial loss
dibebankan ke penghasilan charged to other
komprehensif lain 44 4,330 comprehensive income
Saldo akhir 63,336 59,521 Ending balance
Dikurangi : bagian jangka
pendek (5,242 ) (4,878 ) Less : current portion
Bagian jangka panjang 58,094 54,643 Non-current portion
Asumsi-asumsi dasar yang digunakan untuk The principal assumptions used in determining the post-
menentukan liabilitas imbalan pascakerja adalah employment benefits liability are as follows:
sebagai berikut:
Usia pensiun : Sesuai tingkatan pada tahun 2024 dan 2023 : Retirement age
Based on level in 2024 and 2023
Tingkat kenaikan gaji : 1% - 7% pada tahun 2024 dan 2023 : Annual rate of increase in salary
tahunan 1% - 7% % in 2024 and 2023
Tingkat diskonto : 7,00% - 7,25% pada tahun 2024, 6,75% - 7,00% pada 2023 : Discount rate
7.00% - 7.25% in 2024, 6.75% - 7.00% in 2023
Tingkat kematian : TMI-IV-2019 : Mortality rate
Tingkat kecacatan : 5% dari tingkat kematian/5% of mortality rate : Disability rate
68
Page 279
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
18. LIABILITAS IMBALAN KERJA (lanjutan) 18. EMPLOYEE BENEFIT LIABILITIES (continued)
b. Liabilitas imbalan pascakerja (lanjutan) b. Post-employment benefits liability (continued)
Grup terekspos dengan beberapa risiko melalui The Group is exposed to a number of risks through its
program imbalan pasti. Risiko yang paling signifikan defined benefit pension plans. The most significant risks
adalah sebagai berikut: are as follows:
Perubahan tingkat diskonto Changes in discount rate
Penurunan tingkat diskonto akan meningkatkan A decrease in the discount rate will increase plan
liabilitas program. liabilities.
Tingkat kenaikan gaji Salary growth rate
Liabilitas imbalan pensiun Grup berhubungan dengan The Group’s pension obligations are linked to the salary
tingkat kenaikan gaji, dan semakin tinggi tingkat growth rate, and a higher salary growth rate will lead to
kenaikan gaji akan menyebabkan semakin besarnya higher liabilities.
liabilitas.
Analisis sensitivitas terhadap asumsi utama yang The sensitivity analysis to the key assumptions used in
digunakan dalam menentukan liabilitas imbalan determining post-employment benefits liability is as
pascakerja adalah sebagai berikut: follows:
Tingkat diskonto/ (Penurunan)/kenaikan/
Discount rate (Decrease)/increase
31 Desember 2024 1%/(1%) (Rp5,087)/ Rp6,840 December 31, 2024
31 Desember 2023 1%/(1%) (Rp4,602)/ Rp6,675 December 31, 2023
Tingkat gaji/ Kenaikan/(penurunan)/
Salary rate Increase/(decrease)
31 Desember 2024 1%/(1%) Rp7,331/ (Rp5,595) December 31, 2024
31 Desember 2023 1%/(1%) Rp7,072/ (Rp5,027) December 31, 2023
Durasi rata-rata tertimbang dari liabilitas imbalan kerja The weighted average duration of the benefit obligation
di akhir periode pelaporan berkisar antara 14,91 tahun at the end of the reporting period is within a range of
sampai 18,67 tahun pada tahun 2024 dan 13,97 tahun 14.91 years to 18.67 years in 2024 and 13.97 years to
sampai 18,53 tahun pada tahun 2023. 18.53 years in 2023.
Jadwal jatuh tempo dari liabilitas imbalan pascakerja The maturity profile of undiscounted post-employment
tanpa diskonto adalah sebagai berikut: benefit liabilities is as follows:
2024 2023
Kurang dari 1 tahun 5,242 4,878 Within one year
1 - 5 tahun 10,818 9,186 1 - 5 years
Lebih dari 5 tahun 586,252 517,988 More than 5 years
Jumlah 602,312 532,052 Total
Manajemen berkeyakinan bahwa saldo liabilitas Management believes that the balance of post-
imbalan pascakerja tersebut cukup untuk memenuhi employment benefits liability is sufficient to cover the
imbalan minimum sesuai dengan peraturan yang minimum benefits required under the prevailing
berlaku. regulations.
69
Page 280
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
19. PERPAJAKAN 19. TAXATION
a. Pajak dibayar dimuka a. Prepaid taxes
2024 2023
Perusahaan The Company
Pajak Pertambahan Nilai (PPN)
masukan 12,152 19,016 Value Added Tax (VAT) in
Pajak penghasilan pasal 21 148 - Income tax article 21
Pajak penghasilan pasal 4(2) 873 - Income tax article 4(2)
Sub-jumlah 13,173 19,016 Sub-total
Entitas anak Subsidiaries
Pajak Pertambahan Nilai (PPN)
masukan 5,164 549 Value Added Tax (VAT) in
Pajak penghasilan pasal 21 928 - Income tax article 21
Pajak penghasilan pasal 4(2) 483 504 Income tax article 4(2)
Sub-jumlah 6,575 1,053 Sub-total
Jumlah 19,748 20,069 Total
b. Utang pajak b. Taxes payable
2024 2023
Perusahaan The Company
Pajak Penghasilan: Income Taxes:
Pasal 29 44,314 43,157 Article 29
Pasal 21 - 1,844 Article 21
Pasal 23 740 400 Article 23
Pasal 4(2) 325 140 Article 4(2)
Sub-jumlah 45,379 45,541 Sub-total
Entitas anak Subsidiaries
Pajak Penghasilan: Income Taxes:
Pasal 25 1,715 82 Article 25
Pasal 29 13,749 3 Article 29
Pasal 4(2) 714 4,713 Article 4(2)
Pasal 15 1 - Article 15
Pasal 21 8,889 1,848 Article 21
Pasal 23 1,669 224 Article 23
Pajak Pertambahan Nilai (PPN)
keluaran 7 173 Value Added Tax (VAT) out
Sub-jumlah 26,744 7,043 Sub-total
Jumlah 72,123 52,584 Total
c. Beban pajak penghasilan c. Income tax expense
2024 2023
Perusahaan The Company
Kini 301,662 353,551 Current
Tangguhan 10,499 (67,318 ) Deferred
Sub-jumlah 312,161 286,233 Sub-total
Entitas anak Subsidiaries
Kini 95,489 71,224 Current
Tangguhan (2,755 ) (8,410 ) Deferred
Sub-jumlah 92,734 62,814 Sub-total
Jumlah beban pajak penghasilan 404,895 349,047 Total income tax expense
70
Page 281
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
19. PERPAJAKAN (lanjutan) 19. TAXATION (continued)
c. Beban pajak penghasilan (lanjutan) c. Income tax expense (continued)
Rekonsiliasi antara laba sebelum beban pajak Reconciliation between consolidated profit before
penghasilan konsolidasian menurut laporan laba rugi income tax expense a shown in the consolidated
dan penghasilan komprehensif lain konsolidasian statements of profit or loss and other comprehensive
dengan taksiran laba kena pajak adalah sebagai income and the estimated taxable income is as follows:
berikut:
2024 2023
Laba sebelum beban pajak Consolidated profit before
penghasilan konsolidasian 2,068,594 1,992,143 income tax expense
Dikurangi laba sebelum pajak - Less profit before tax -
entitas anak (442,687 ) (393,808 ) subsidiaries
Disesuaikan dengan eliminasi Adjustment for consolidation
konsolidasian 265,959 341,014 elimination
Laba sebelum beban pajak Profit before tax attributable
Perusahaan 1,891,866 1,939,349 to the Company
Penyesuaian fiskal: Fiscal adjustments:
Penyusutan aset tetap 1,716 5,824 Depreciation of fixed assets
Penyisihan persediaan usang Provision for obsolescence
dan lambat bergerak 1,177 (982 ) and slow-moving inventories
Aset hak-guna dan sewa 1,220 (1,092 ) Right-of-use assets and lease
Imbalan kerja 962 354 Employee benefits
Provisi retur penjualan dan Provision for sales return and
hak retur aset 221 864 right of return assets
Akrual (68,417 ) 112,891 Accruals
Beban yang tidak dapat dikurangkan (858 ) (399 ) Non-deductible expenses
Pendapatan yang dikenakan
pajak penghasilan final (256,697 ) (234,760 ) Income subject to final tax
Pendapatan yang bukan
merupakan objek pajak (200,000 ) (215,000 ) Income not subject to tax
Taksiran laba kena pajak - Estimated taxable income -
Perusahaan 1,371,190 1,607,049 the Company
Laba kena pajak hasil rekonsiliasi di atas menjadi The taxable income resulted from the above
dasar dalam pengisian SPT Tahunan Pajak reconciliation provides the basis for the Company’s
Penghasilan (PPh) Badan Perusahaan. Annual Corporate Income Tax Return.
Beban pajak penghasilan tahun berjalan dan Income tax expense current year and the computation
perhitungan taksiran utang (klaim) pajak penghasilan of the estimated income tax payable (claims for income
adalah sebagai berikut: tax refund) are as follows:
2024 2023
Taksiran penghasilan kena pajak Estimated taxable income
(dibulatkan) (rounded off)
Perusahaan 1,371,190 1,607,049 Company
Entitas Anak 434,041 323,745 Subsidiaries
Beban pajak penghasilan - Income tax expense -
tahun berjalan current year
Perusahaan 301,662 353,551 Company
Entitas Anak 95,489 71,224 Subsidiaries
Beban pajak penghasilan menurut Income tax expense per consolidated
laporan laba rugi dan penghasilan statements of profit or loss and
komprehensif lain konsolidasian other comprehensive income
- tahun berjalan 397,151 424,775 - current year
71
Page 282
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
19. PERPAJAKAN (lanjutan) 19. TAXATION (continued)
c. Beban pajak penghasilan (lanjutan) c. Income tax expense (continued)
2024 2023
Pajak penghasilan dibayar di muka Prepayments of income taxes
(Pasal 22, 23 dan 25) (Articles 22, 23 and 25)
Perusahaan 257,348 310,394 Company
Entitas Anak 81,740 100,653 Subsidiaries
Pajak penghasilan dibayar di muka 339,088 411,047 Prepayments of income taxes
Taksiran klaim Estimated claims for income
pajak penghasilan - tax refund -
Entitas Anak - (29,432 ) Subsidiaries
Taksiran kalim pajak Estimated claims for income
penghasilan - (29,432 ) tax refund
Jumlah utang pajak penghasilan Total income tax payable
Perusahaan 44,314 43,157 Company
Entitas Anak 13,749 3 Subsidiaries
Jumlah utang pajak penghasilan 58.063 43,160 Total income tax payable
Taksiran klaim pajak penghasilan pada tanggal Estimated claim for income tax refund at the date of the
laporan posisi keuangan konsolidasian untuk tahun consolidated statement of financial position consist of
pajak sebagai berikut: the claim for the year as follows:
2024 2023
Taksiran klaim pajak Estimated claims for income
penghasilan tax refund
Entitas Anak Subsidiaries
2023 29,432 29,432 2023
Jumlah 29,432 29,432 Total
Rekonsiliasi antara hasil perhitungan laba sebelum Reconciliation between the computation of consolidated
beban pajak penghasilan konsolidasian dengan beban profit before tax expense and income tax expense as
pajak penghasilan dalam laporan laba rugi dan shown in the consolidated statements of profit or loss
penghasilan komprehensif lain konsolidasian adalah and other comprehensive income is as follows:
sebagai berikut:
2024 2023
Laba sebelum beban pajak Consolidated profit before income
penghasilan konsolidasian 2,068,594 1,992,143 tax expense
Pengaruh pajak atas: The tax effect on:
Pajak penghasilan dihitung dengan Income tax calculated at
tarif pajak yang berlaku 455,091 438,271 applicable tax rate
Beda tetap dan pembulatan 13,537 13,614 Permanent difference and rounding
Pendapatan yang dikenakan
pajak penghasilan final (63,733 ) (56,873 ) Income subject to final tax
Penyesuaian pajak tangguhan tahun
sebelumnya - (45,965 ) Prior year deferred tax adjustments
Jumlah beban pajak penghasilan 404,895 349,047 Total income tax expense
72
Page 283
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
19. PERPAJAKAN (lanjutan) 19. TAXATION (continued)
d. Aset pajak tangguhan d. Deferred tax assets
Rincian aset pajak tangguhan adalah sebagai berikut: The details of deferred tax assets are as follows:
2024
Dikreditkan ke
Dikreditkan penghasilan
(dibebankan) komprehensif
ke laba rugi/ lain/Credited
Saldo awal/ Credited to other Saldo akhir/
Beginning (charged) to comprehensive Ending
balance profit or loss income balance
Aset tetap (42,116 ) (840 ) - (42,956 ) Fixed assets
Aset hak-guna (15,062 ) (1,948 ) - (17,010 ) Right-of-use assets
Liabilitas sewa 8,713 607 - 9,320 Lease liabilities
Liabilitas imbalan kerja 13,097 828 10 13,935 Employee benefits liability
Beban akrual 74,077 (7,735 ) - 66,342 Accrued expenses
Penyisihan persediaan Provision for
usang dan lambat obsolescence and
bergerak 2,033 1,158 - 3,191 slow-moving inventories
Provisi retur penjualan 7,947 505 - 8,452 Provision for sales return
Hak retur aset (5,134 ) (284 ) - (5,418 ) Right to return assets
Cadangan kerugian Allowance for
penurunan nilai impairment losses
piutang usaha 323 (35 ) - 288 of trade receivables
Jumlah 43,878 (7,744 ) 10 36,144 Total
2024
Dikreditkan
(dibebankan) ke
(Dibebankan) penghasilan
dikreditkan ke komprehensif lain/
laba rugi/ Credited
Saldo awal/ (Charged) (charged) to other Saldo akhir/
Beginning credited to comprehensive Ending
balance profit or loss income balance
Disajikan sebagai: Presented as:
Aset pajak tangguhan 43,878 (7,744 ) 10 36,144 Deferred tax assets
Jumlah 43,878 (7,744 ) 10 36,144 Total
Terdiri atas: Comprises:
Perusahaan The Company
Aset pajak tangguhan 28,962 (10,499) (101 ) 18,362 Deferred tax assets
Entitas anak Subsidiaries
Aset pajak tangguhan 14,916 2,755 111 17,782 Deferred tax assets
Jumlah 43,878 (7,744 ) 10 36,144 Total
73
Page 284
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
19. PERPAJAKAN (lanjutan) 19. TAXATION (continued)
d. Aset pajak tangguhan (lanjutan) d. Deferred tax assets (continued)
2023
Dikreditkan ke
Dikreditkan penghasilan
(dibebankan) komprehensif
ke laba rugi/ lain/Credited
Saldo awal/ Credited to other Saldo akhir/
Beginning (charged) to comprehensive Ending
balance profit or loss income balance
Aset tetap (46,036 ) 3,920 - (42,116 ) Fixed assets
Aset hak-guna (22,870 ) 7,808 - (15,062 ) Right-of-use assets
Liabilitas sewa 20,167 (11,454 ) - 8,713 Lease liabilities
Liabilitas imbalan Employee benefits
kerja 10,473 1,671 953 13,097 liability
Beban akrual - 74,077 - 74,077 Accrued expenses
Penyisihan persediaan Provision for obsolescence
usang dan lambat and slow-moving
bergerak 2,924 (891 ) - 2,033 inventories
Provisi retur penjualan 7,036 911 - 7,947 Provision for sales return
Hak retur aset (4,571 ) (563 ) - (5,134 ) Right to return assets
Cadangan kerugian Allowance for
penurunan nilai impairment losses
piutang usaha 74 249 - 323 of trade receivables
Jumlah (32,803 ) 75,728 953 43,878 Total
2023
Dikreditkan
(dibebankan) ke
(Dibebankan) penghasilan
dikreditkan ke komprehensif lain/
laba rugi/ Credited
Saldo awal/ (Charged) (charged) to other Saldo akhir/
Beginning credited to comprehensive Ending
balance profit or loss income Transfer balance
Disajikan sebagai: Presented as:
Aset pajak tangguhan 5,547 8,410 959 28,962 43,878 Deferred tax assets
Liabilitas pajak
tangguhan (38,350 ) 67,318 (6 ) (28,962 ) - Deferred tax liabilities
Jumlah (32,803 ) 75,728 953 - 43,878 Total
Terdiri atas: Comprises:
Perusahaan The Company
Aset pajak tangguhan - - - 28,962 28,962 Deferred tax assets
Liabilitas pajak
tangguhan (38,350 ) 67,318 (6 ) (28,962 ) - Deferred tax liabilities
Entitas anak Subsidiaries
Aset pajak tangguhan 5,547 8,410 959 - 14,916 Deferred tax assets
Jumlah (32,803 ) 75,728 953 - 43,878 Total
e. Administrasi e. Administration
Undang-undang perpajakan Indonesia mengatur The taxation laws in Indonesia require that each
bahwa masing-masing perusahaan dalam Grup company in the Group submits tax returns on the basis
menghitung, menetapkan dan membayar sendiri of self-assessment.
besarnya jumlah pajak yang terutang.
Berdasarkan perundang-undangan yang berlaku, Under prevailing regulations, the Directorate General of
Direktorat Jenderal Pajak (“DJP”) dapat menetapkan Taxes ("DGT") may assess or amend taxes within five
atau mengubah kewajiban pajak dalam jangka waktu years from the time the tax becomes due.
lima tahun sejak saat terutangnya pajak.
74
Page 285
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
20. MODAL SAHAM 20. SHARE CAPITAL
Susunan pemegang saham Perusahaan dan The Company’s shareholders and their respective
kepemilikannya pada tanggal-tanggal 31 Desember 2024 ownership as of December 31, 2024 and 2023 are as
dan 2023 adalah sebagai berikut: follows:
Jumlah saham
ditempatkan dan
disetor penuh/ Persentase
Number of kepemilikan/
shares issued Percentage Jumlah/
Pemegang saham and fully paid of ownership Total Shareholders
31 Desember 2024 December 31, 2024
PT Tancorp Surya Sentosa 22,674,971,000 36.60% 226,750 PT Tancorp Surya Sentosa
PT Wahana Lancar Rejeki 20,129,652,900 32.49% 201,297 PT Wahana Lancar Rejeki
Archipelago Investment Archipelago Investment
Private Limited 3,902,748,900 6.30% 39,027 Private Limited
Rudi Tanoko 1,041,265,000 1.68% 10,413 Rudi Tanoko
Rony Tanoko 497,829,300 0.80% 4,978 Rony Tanoko
Direksi Board of Directors
Robert Christian Tanoko 1,425,406,300 2.30% 14,254 Robert Christian Tanoko
Ruslan Tanoko *) 37,724,500 0.06% 378 Ruslan Tanoko *)
Wijono Tanoko 2,504,200 0.00% 25 Wijono Tanoko
Kurnia Hadi Sinanto 651,600 0.00% 7 Kurnia Hadi Sinanto
Angelica Tanisia Jozar 222,400 0.00% 2 Angelica Tanisia Jozar
Masyarakat (masing-masing Public (each below
kepemilikan di bawah 5%) 11,077,130,300 17.89% 110,771 5% ownership)
Jumlah saham beredar 60,790,106,400 98.12% 607,902 Total outstanding shares
Saham treasuri 1,163,449,200 1.88% 11,634 Treasury shares
Jumlah 61,953,555,600 100% 619,536 Total
*) Tidak Langsung melalui PT Sensasi Istana Warna *) Indirectly through PT Sensasi Istana Warna
Jumlah saham
ditempatkan dan
disetor penuh/ Persentase
Number of kepemilikan/
shares issued Percentage Jumlah/
Pemegang saham and fully paid of ownership Total Shareholders
31 Desember 2023 December 31, 2023
PT Tancorp Surya Sentosa 22,674,971,000 36.60% 226,750 PT Tancorp Surya Sentosa
PT Wahana Lancar Rejeki 20,129,652,900 32.49% 201,297 PT Wahana Lancar Rejeki
Archipelago Investment Archipelago Investment
private Limited 3,902,748,900 6.30% 39,027 Private Limited
Rony Tanoko 1,041,265,000 1.68% 10,413 Rony Tanoko
Rudi Tanoko 1,041,265,000 1.68% 10,413 Rudi Tanoko
Direksi Board of Directors
Robert Christian Tanoko 1,425,406,300 2.30% 14,254 Robert Christian Tanoko
Ruslan Tanoko *) 20,959,300 0.03% 210 Ruslan Tanoko *)
Wijono Tanoko 2,504,200 0.00% 25 Wijono Tanoko
Kurnia Hadi Sinanto 556,600 0.00% 5 Kurnia Hadi Sinanto
Angelica Tanisia Jozar 169,300 0.00% 2 Angelica Tanisia Jozar
Masyarakat (masing-masing Public (each below
kepemilikan di bawah 5%) 11,679,438,300 18.86% 116,794 5% ownership)
Jumlah saham beredar 61,918,936,800 99.94% 619,190 Total outstanding shares
Saham treasuri 34,618,800 0.06% 346 Treasury shares
Jumlah 61,953,555,600 100% 619,536 Total
*) Tidak Langsung melalui PT Sensasi Istana Warna *) Indirectly through PT Sensasi Istana Warna
75
Page 286
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
20. MODAL SAHAM (lanjutan) 20. SHARE CAPITAL (continued)
Pada tahun 2024 dan 2023, Perusahaan telah melakukan In 2024 and 2023, the Company repurchased
pembelian kembali masing-masing 1.128.830.400 dan 1,128,830,400 and 34,618,800, respectively, of its own
34.618.800 lembar saham biasa Perusahaan melalui shares amounting to through purchases on the IDX (Note
pembelian pada BEI (Catatan 1b). Pembelian kembali 1b). This repurchase transaction is intended to stabilise the
saham Perusahaan ini ditujukan untuk menjaga stabilitas Company’s share price. The total amount paid to acquire
harga saham Perusahaan. Jumlah pembayaran untuk the shares was Rp 558,183 (Rp 358 - Rp 600/share - full
mengakuisisi saham tersebut masing-masing adalah amount) and Rp 16,369 (Rp 426 - Rp 500/share - full
Rp 558.183 (Rp 358 - Rp 600/lembar saham - nilai penuh) amount) in 2024 and 2023, respectively. The shares are
dan Rp 16.369 (Rp 426 - Rp 500/lembar saham - nilai held as “treasury shares” in the consolidated statement of
penuh) pada tahun 2024 dan 2023. Saham tersebut financial position as of December 31, 2024 and 2023.
dicatat pada “saham treasuri” dalam laporan posisi
keuangan konsolidasian tanggal 31 Desember 2024 dan
2023.
Pengelolaan modal Capital management
Tujuan Grup dalam pengelolaan permodalan adalah untuk The Group’s objectives when managing capital are to
mempertahankan kelangsungan usaha Grup serta safeguard the Group’s ability to continue as a going
memaksimalkan manfaat bagi pemegang saham dan concern while seeking to maximise benefits to shareholders
pemangku kepentingan lainnya. and other stakeholders.
Grup mengelola struktur permodalan dan melakukan The Group manages its capital structure and makes
penyesuaian, berdasarkan perubahan kondisi ekonomi. adjustments to it, in light of changes in economic conditions.
Untuk memelihara dan menyesuaikan struktur To maintain or adjust the capital structure, the Group may
permodalan, Grup dapat menyesuaikan pembayaran adjust the dividend payment to shareholders, issue new
dividen kepada pemegang saham, menerbitkan saham shares or raise debt financing. No changes were made in
baru atau mengusahakan pendanaan melalui pinjaman. the objectives, policies or processes for the years ended
Tidak ada perubahan atas tujuan, kebijakan December 31, 2024 and 2023.
maupun proses untuk tahun yang berakhir pada tanggal
31 Desember 2024 dan 2023.
Kebijakan Grup adalah mempertahankan struktur The Group’s policy is to maintain a healthy capital structure
permodalan yang sehat untuk mengamankan akses in order to secure access to finance at a reasonable cost.
terhadap pendanaan pada biaya yang wajar.
21. TAMBAHAN MODAL DISETOR 21. ADDITIONAL PAID-IN CAPITAL
2024 2023
Selisih nilai nominal dengan Difference between par value
penerimaan setoran modal 7,874,557 7,874,557 and proceeds of share capital
Biaya emisi saham (119,356 ) (119,356 ) Shares issuance costs
Dampak transaksi antara entitas Transactions between entities under
sepengendali 38,017 38,017 common control
Jumlah 7,793,218 7,793,218 Total
Perusahaan melakukan penawaran umum perdana The Company made an initial public offering of
sebanyak 6.200.000.000 lembar saham dengan nilai 6,200,000,000 shares to the public with a par value of
nominal Rp 10 (angka penuh) per lembar saham dan Rp 10 (full amount) per share at an offering price of Rp 930
harga penawaran sebesar Rp 930 (angka penuh) per (full amount) per share.
lembar saham.
Biaya emisi saham merupakan biaya transaksi yang timbul Share issuance costs are transaction costs arising from the
dari aktivitas Penawaran Umum Saham Perdana, antara Initial Public Offering, which includes underwriting and
lain mencakup biaya jasa penjaminan dan management fees, supporting professional service fees,
penyelenggaraan, biaya profesi penunjang pasar modal, capital market supporting institution fees and other fees.
biaya lembaga penunjang pasar modal dan biaya lain-lain.
76
Page 287
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
22. SALDO LABA YANG DITENTUKAN 22. APPROPRIATED RETAINED EARNINGS
PENGGUNAANNYA
Perusahaan dipersyaratkan oleh Undang-undang The Company is required by the Limited Liability Company
Perseroan Terbatas No. 40 Tahun 2007 efektif tanggal Law No. 40, Year 2007 effective August 16, 2007 to
16 Agustus 2007 untuk mengalokasikan sampai dengan allocate to and maintain a non-distributable reserve fund
20% dari modal ditempatkan dan disetor ke dalam dana until the said reserve reaches at least 20% of the issued
cadangan yang tidak boleh didistribusikan. and paid capital.
Berdasarkan Surat Keputusan Direksi Based on the Board of Directors’ Decision Letter
No. 036/AA/DIR/XI/2021 bertanggal 7 September 2021 No. 036/AA/DIR/XI/2021 dated September 7, 2021
tentang Pembentukan Cadangan Umum, Direksi concerning the Establishment of General Reserves, the
Perusahaan telah menyetujui untuk menyisihkan sebagian Company's Board of Directors has agreed to set aside a
saldo laba Perusahaan untuk cadangan umum sebesar portion of the Company's retained earnings for general
Rp 112.000 sebagai tindak lanjut atas keputusan reserves amounting to Rp 112,000 as a follow-up to the
pemegang saham Perusahaan dalam Rapat Umum decision of the Company's shareholders in the General
Pemegang Saham tertanggal 14 Juni 2021. Meeting of Shareholders dated June 14, 2021.
Berdasarkan Rapat Umum Pemegang Saham Tahunan Based on the Annual General Shareholders’ Meeting held
yang diselenggarakan pada tanggal 22 April 2022, para on April 22, 2022, the Company’s shareholders approved
pemegang saham menyetujui tambahan pencadangan the addition of appropriation for general a reserve of
umum sebesar Rp 12.000 dari laba konsolidasian tahun Rp 12,000 from 2021 consolidated profit.
2021.
23. LABA PER SAHAM DASAR DAN DILUSIAN 23. BASIC AND DILUTED EARNINGS PER SHARE
Rincian perhitungan laba per saham dasar dan dilusian Details of basic and diluted earnings per share computation
adalah sebagai berikut: are as follows:
2024 2023
Laba tahun berjalan yang dapat
diatribusikan kepada pemilik Income for the year attributable to equity
entitas induk 1,664,341 1,642,166 holders of the parent company
Rata-rata tertimbang jumlah saham Weighted average number
yang beredar 61,289,388,327 61,953,271,062 of outstanding shares
Laba per saham dasar Basic and diluted earnings
dan dilusian (nilai penuh) 27.16 26.51 per share (full amount)
Perusahaan tidak memiliki efek berpotensi dilusi saham The Company does not have any potentially dilutive shares.
sehingga laba per saham dasar sama dengan laba per Therefore, the diluted earnings per share is equal to the
saham dilusian. basic earnings per share.
24. DIVIDEN 24. DIVIDENDS
Berdasarkan Keputusan Sirkuler Direksi tanggal Based on Circular Resolution of Directors on
1 November 2024, para pemegang saham menyetujui November 1, 2024, the Company’s shareholders approved
pembagian dividen interim tunai sebesar Rp 671.979 the distribution of interim cash dividends amounting to
(Rp 11/lembar saham - nilai penuh) yang telah dibayarkan Rp 671,979 (Rp 11/share - full amount) paid on
pada tanggal 21 November 2024. November 21, 2024.
Berdasarkan Berita Acara Rapat Umum Pemegang Based on Minutes of Annual General Meeting of
Saham Tahunan No. 2 tanggal 4 April 2024 yang dibuat Shareholders No. 2 dated April 4, 2024 by Notary
oleh Notaris Dr. Susanti, S.H., M.Kn., Notaris di Surabaya, Dr. Susanti, S.H., M.Kn., Notary in Surabaya, the
para pemegang saham menyetujui pembagian dividen Company’s shareholders approved the distribution of cash
tunai dari laba bersih tahun 2023 sebesar Rp 1.357.652 dividends from 2023 profit amounting to Rp 1,357,652
(Rp 22/lembar saham - nilai penuh) yang terdiri atas (Rp 22/share - full amount) which comprises of interim
dividen interim sebesar Rp 681.489 (Rp 11/lembar saham dividends amounting to Rp 681,489 (Rp 11/share - full
- nilai penuh) yang telah dibayarkan pada tanggal amount) paid on October 31, 2023, and final dividends of
31 Oktober 2023, dan dividen final sebesar Rp 676.163 Rp 676,163 (Rp 11/share - full amount) paid on April 30,
(Rp11/lembar saham - nilai penuh) yang telah dibayarkan 2024.
pada tanggal 30 April 2024.
77
Page 288
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
24. DIVIDEN (lanjutan) 24. DIVIDENDS (continued)
Berdasarkan Akta Notaris No. 2 yang dibuat oleh Notaris Based on Notarial Deed No. 2 by Notary Dr. Susanti, S.H.,
Dr. Susanti, S.H., M.Kn., dalam Rapat Umum Pemegang M.Kn., in the Annual General Shareholders’ Meeting of the
Saham Tahunan Perusahaan tanggal 13 April 2023, para Company dated April 13, 2023, the Company’s
pemegang saham menyetujui pembagian dividen tunai shareholders approved the distribution of cash dividends
dari laba bersih tahun 2022 sebesar Rp 1.301.025 from 2022 profit amounting to Rp 1,301,025 (Rp 21/share -
(Rp 21/lembar saham - nilai penuh) yang terdiri atas full amount), which comprises of interim dividends
dividen interim sebesar Rp 619.536 (Rp 10/lembar saham amounting to Rp 619,536 (Rp 10/share - full amount) paid
- nilai penuh) yang telah dibayarkan pada tanggal on December 6, 2022, and final dividends of Rp 681,489
6 Desember 2022, dan dividen final sebesar Rp 681.489 (Rp 11/share - full amount) paid on May 9, 2023.
(Rp 11/lembar saham - nilai penuh) yang telah dibayarkan
pada tanggal 9 Mei 2023.
25. PENDAPATAN NETO 25. NET REVENUES
Pendapatan neto berdasarkan kategori pelanggan: Net revenues by customers category:
2024 2023
Pihak ketiga 7,411,273 6,963,729 Third parties
Pihak berelasi (Catatan 7) 60,083 53,153 Related parties (Note 7)
Jumlah 7,471,356 7,016,882 Total
Pendapatan neto berdasarkan jaringan distribusi: Net revenues by distribution channel:
2024 2023
Distributor sendiri 6,695,381 6,186,802 Owned distributor
Distributor pihak ketiga 735,518 788,926 Third party distributor
Penjualan langsung 40,457 41,154 Direct sales
Jumlah 7,471,356 7,016,882 Total
Penjualan melalui distributor sendiri merupakan penjualan Sales through owned distributor represent sales made
yang dilakukan melalui PT TKTW (entitas anak) dan through PT TKTW (subsidiary) and PT TKBI (indirect
PT TKBI (entitas anak tidak langsung) kepada pelanggan. subsidiary) to the customers. Sales through third party
Penjualan melalui distributor pihak ketiga merupakan distributor represent sales made through the Company’s
penjualan yang dilakukan melalui distributor Perusahaan. distributors. Direct sales represent sales non-
Penjualan langsung merupakan penjualan kepada retails/projects.
pelanggan non-ritel/proyek.
Pada tanggal 31 Desember 2024 dan 2023, Grup tidak As of December 31, 2024 and 2023, the Group does not
memiliki penjualan kepada pelanggan tertentu dengan have any sales to certain customers with the individual
total penjualan kumulatif individual masing-masing cumulative amount each exceeding 10% of the total
melebihi 10% dari total pendapatan konsolidasian. consolidated revenues.
Seluruh pelanggan adalah pelanggan lokal. All customers are local customers.
Pada tanggal 31 Desember 2024 dan 2023, liabilitas As of December 31, 2024 and 2023, contract liabilities
kontrak yang berkaitan dengan kontrak penjualan masing- related to revenue contracts amounted to Rp 146,738 and
masing sebesar Rp 146.738 dan Rp 205.579 diakui Rp 205,579, respectively, were recognised as part of
sebagai bagian dari beban akrual pemasaran dan accrued marketing and promotion expense. The prior year’s
promosi. Liabilitas kontrak tahun sebelumnya telah contract liabilities have been realised in the current
terealisasi pada periode pelaporan saat ini dan telah diakui reporting period and have been recognised as revenue
sebagai pendapatan sebesar Rp 205.579 (2023: amounted to Rp 205,579 (2023: Rp 127,292).
Rp 127.292).
78
Page 289
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
26. BEBAN POKOK PENJUALAN 26. COST OF GOODS SOLD
2024 2023
Pemakaian bahan baku 1,925,433 1,948,508 Raw materials usage
Upah langsung 77,841 74,591 Direct labour
Beban pabrikasi: Factory overhead:
Upah tak langsung 96,034 88,190 Indirect labour
Penyusutan aset tetap Depreciation of fixed
(Catatan 12) 34,775 32,099 assets (Note 12)
Perawatan dan pemeliharaan 20,148 15,563 Repair and maintenance
Listrik, air, dan gas 18,459 18,482 Electricity, water, and gas
Perlengkapan pabrik 5,422 4,337 Factory supplies
Pemakaian bahan pembantu 4,850 6,094 Supporting material used
Amortisasi aset takberwujud 923 781 Amortization of intangible asset
Lain-lain 13,866 6,007 Others
Jumlah beban produksi 2,197,751 2,194,652 Total production cost
Barang dalam proses Work in process
Awal tahun 45,887 43,115 At beginning of year
Akhir tahun (41,994 ) (45,887 ) At end of year
Beban pokok produksi 2,201,644 2,191,880 Cost of goods manufactured
Barang jadi Finished goods
Awal tahun 996,609 935,800 At beginning of year
Pembelian 1,367,214 1,170,476 Purchases
Akhir tahun (1,051,043 ) (996,609 ) At end of year
Beban pokok penjualan sebelum Cost of goods sold before
pemakaian barang promosi 3,514,424 3,301,547 promotional goods consumption
Pemakaian barang promosi 616,182 531,999 Promotional goods consumption
Beban pokok penjualan 4,130,606 3,833,546 Cost of goods sold
Rincian pemasok yang memiliki transaksi pembelian lebih Detail of suppliers with purchase transactions that represent
dari 10% dari total pendapatan usaha konsolidasian more than 10% of the total consolidated revenue is as
adalah sebagai berikut: follows:
2024 2023
PT Avia Avian Industri Pipa 1,053,497 875,847 PT Avia Avian Industri Pipa
27. BEBAN OPERASI 27. OPERATING EXPENSES
Rincian beban penjualan adalah sebagai berikut: The details of selling expenses are as follows:
2024 2023
Gaji, upah dan kesejahteraan karyawan 534,868 499,521 Salaries, wages and employee benefits
Biaya angkut penjualan 210,694 191,683 Freight out
Pemasaran dan promosi 185,516 199,373 Marketing and promotion
Penyusutan (Catatan 12 dan 16) 165,089 142,764 Depreciation (Notes 12 and 16)
Komisi penjualan 69,815 63,125 Sales commission
Perjalanan dinas 56,923 52,397 Business travel
Bahan bakar 29,076 29,483 Fuel
Percetakan 26,673 27,337 Printing
Pemeliharaan 22,221 18,506 Maintenance
Lain-lain 17,542 16,048 Others
Jumlah 1,318,417 1,240,237 Total
79
Page 290
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
27. BEBAN OPERASI (lanjutan) 27. OPERATING EXPENSES (continued)
Rincian beban umum dan administrasi adalah sebagai The details of general and administrative expenses are as
berikut: follows:
2024 2023
Gaji, upah dan kesejahteraan karyawan 81,082 72,625 Salaries, wages and employee benefits
Penyusutan (Catatan 12 dan 16) 43,833 37,703 Depreciation (Notes 12 and 16)
Perlengkapan kantor 22,360 22,596 Office supplies
Asuransi 21,506 17,387 Insurance
Utilitas 13,867 13,662 Utilities
Perjalanan dinas 12,875 11,927 Business travelling
Perijinan dan legalitas 10,282 8,524 Permits and legal
Jasa tenaga ahli 9,175 9,908 Professional fees
Pelatihan 6,543 4,994 Training
Amortisasi aset takberwujud 6,517 5,447 Amortization of intangible asset
Sumbangan dan jamuan 4,500 4,508 Donation and entertainment
Kebersihan dan keamanan 4,290 4,368 Cleaning and security
Lain-lain 16,413 12,441 Others
Jumlah 253,243 226,090 Total
28. PENDAPATAN KEUANGAN 28. FINANCE INCOME
2024 2023
Bunga dari investasi pada Interest from investment in
surat utang negara 154,994 149,646 government bonds
Bunga dari deposito 117,367 124,670 Interest from time deposits
Bunga dari rekening giro 12,744 11,943 Interest from current account
Jumlah 285,105 286,259 Total
29. BEBAN KEUANGAN 29. FINANCE CHARGES
2024 2023
Beban bunga atas liabilitas sewa Interest expense on lease liabilities
(Catatan 16) 2,011 3,724 (Note 16)
Beban bunga pinjaman bank 528 353 Interest expense on bank loans
Jumlah 2,539 4,077 Total
80
Page 291
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
30. PENDAPATAN (BEBAN) LAIN-LAIN - NETO 30. OTHER INCOME (EXPENSES) - NET
Rincian pendapatan (beban) lain-lain - neto adalah The details of other income (expenses) - net are as follows:
sebagai berikut:
2024 2023
Penjualan barang afalan 6,389 7,097 Sale of scrap
Pendapatan sewa gedung kantor Office and factory buildings
dan pabrik 4,307 4,172 rental income
Keuntungan pelepasan aset tetap Gain on disposal of fixed assets
(Catatan 12) 1,337 5,052 (Note 12)
Kenaikan nilai properti Increase in fair value of
investasi (Catatan 11) 397 4,127 investment properties (Note 11)
Kerugian penjualan investasi Loss on sale of investment
pada surat utang negara - (30,857) in government bonds
Beban operasional atas gedung yang Operational expenses of leased
disewakan (Catatan 11) (2,579 ) (4,360) building (Note 11)
Keuntungan (kerugian) selisih kurs - neto (4,283 ) 1,070 Gain (loss) on foreign exchange - net
Lain-lain - neto 8,692 5,753 Others - net
Jumlah 14,260 (7,946) Total
31. ASET ATAU LIABILITAS MONETER BERSIH DALAM 31. NET MONETARY ASSETS AND LIABILITIES
MATA UANG ASING DENOMINATED IN FOREIGN CURRENCIES
Aset dan liabilitas keuangan Grup dalam mata uang asing The Group’s financial assets and liabilities in foreign
adalah sebagai berikut: currencies are as follows:
2024 2023
Dalam mata Dalam mata
uang asing/ uang asing/
Mata uang/ In original Jumlah setara/ In original Jumlah setara/
Currency currencies Equivalent to currencies Equivalent to
Aset moneter Monetary assets
Dolar AS/
Kas dan setara kas US Dollar 16,249 263 2,452 38 Cash and cash equivalents
Liabilitas moneter Monetary liabilities
Dolar AS/
Utang usaha US Dollar (4,933,321 ) (79,732 ) (4,874,620 ) (75,147 ) Trade payables
CNY (28,678,389 ) (63,499 ) (10,090,439 ) (21,896 )
Euro (433,631 ) (7,307 ) (982,769 ) (16,845 )
SGD (373,878 ) (4,456 ) (175,441 ) (2,055 )
GBP (9,903 ) (201 ) - -
(155,195 ) (115,943 )
Liabilitas moneter - neto (154,932 ) (115,905 ) Monetary liabilities - net
81
Page 292
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
32. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 32. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN POLICIES
Aktivitas Grup rentan terhadap berbagai risiko keuangan: The Group’s activities are exposed to a variety of financial
risiko pasar (termasuk risiko nilai mata uang asing, risiko risks: market risk (including foreign exchange risk, price risk
harga, dan risiko tingkat suku bunga), risiko kredit dan and interest rate risk), credit risk and liquidity risk. The
risiko likuiditas. Program manajemen risiko Grup secara Group’s overall risk management programme focuses on
keseluruhan dipusatkan pada pasar keuangan yang tidak the unpredictability of financial markets and seeks to
dapat diprediksi dan Grup berusaha untuk memperkecil minimise potential adverse effects on the Group’s financial
efek yang berpotensi merugikan kinerja keuangan Grup. performance. Financial risk management is carried out
Fungsi manajemen risiko keuangan dijalankan dalam under the monitoring of the Directors.
pengawasan Direksi.
Faktor-faktor risiko keuangan Financial risk factors
a. Risiko pasar a. Market risk
Risiko nilai tukar mata uang asing Foreign exchange risk
Mata uang fungsional Grup adalah Rupiah. Grup The Group’s functional currency is Rupiah. The Group
menghadapi risiko nilai tukar mata uang asing karena faces foreign exchange risk as a portion of its
sebagian pembelian dan biaya operasionalnya dalam purchases and operating expenses are denominated in
mata uang asing. Penurunan/penguatan nilai tukar foreign currencies. The weakening/strengthening of
mata uang asing terhadap Rupiah, mengakibatkan foreign currency exchange rate against Rupiah, will
utang dan biaya operasional dalam Rupiah cause payable and operating expenses in Rupiah
menurun/meningkat. decrease/increase.
Analisis sensitivitas untuk risiko nilai mata uang asing Sensitivity analysis for foreign currency risk
Pada tanggal 31 Desember 2024, jika nilai tukar As of December 31, 2024, had the Rupiah exchange
Rupiah terhadap Dolar AS menguat/melemah rate strengthened/weakened by 10% against US
sebesar 10%, dengan semua variabel lain konstan, Dollar, with all other variables held constant, post-tax
maka laba setelah pajak untuk tahun yang berakhir profit for the year then ended would have been
pada tanggal tersebut akan meningkat/menurun Rp 6,199 (December 31, 2023: Rp 5,859) higher/lower.
sebesar Rp 6.199 (31 Desember 2023: Rp 5.859). The impact on equity would have been the same as
Dampak terhadap ekuitas akan sama dengan the impact on profit for the year.
dampak pada laba tahun berjalan.
Risiko harga Price risk
Grup rentan terhadap risiko harga efek utang karena The Group is exposed to debt securities price risk
investasi yang dimiliki Grup diklasifikasikan dalam because the investments held by the Group are
laporan posisi keuangan konsolidasian sebagai classified on the consolidated statement of financial
diukur pada nilai wajar melalui penghasilan position at fair value through other comprehensive
komprehensif lain dan nilai wajar melalui laba rugi. income and fair value through profit or loss. The Group
Grup tidak rentan terhadap risiko harga komoditas. is not exposed to commodity price risk.
Untuk mengelola risiko harga yang timbul dari To manage price risk arising from investments in debt
investasi pada efek utang, Grup melakukan analisis securities, the Group performs an analysis of the
terkait besarnya bunga kupon yang ditawarkan number of coupon bonds offered and the required rate
dengan tingkat imbal hasil umum yang diharapkan of return which is generally expected by the market.
oleh pasar.
82
Page 293
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
32. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 32. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN (lanjutan) POLICIES (continued)
Faktor-faktor risiko keuangan (lanjutan) Financial risk factors (continued)
a. Risiko pasar (lanjutan) a. Market risk (continued)
Risiko harga (lanjutan) Price risk (continued)
Analisis sensitivitas untuk risiko harga Sensitivity analysis for price risk
Pada tanggal 31 Desember 2024, apabila tingkat As of December 31, 2024, if market required rate of
imbal hasil secara umum yang diharapkan oleh pasar return increased/decreased for 5%, post-tax profit for
bergerak naik/turun 5%, maka laba setelah pajak the year then ended would increased/decreased by
untuk tahun yang berakhir pada tanggal tersebut Rp 148,942 (2023: Rp 150,847) as a result of
akan naik/turun sebesar Rp 148.942 gains/(losses) on investments in government bonds
(2023: Rp 150.847) sebagai akibat and mutual funds classified as at FVOCI and FVTPL.
keuntungan/(kerugian) atas investasi pada surat The impact on equity would have been the same as
utang negara dan reksa dana yang diklasifikasikan the impact on the consolidated profit or loss and other
sebagai FVOCI dan FVTPL. Dampak terhadap comprehensive income for the year.
ekuitas akan sama dengan dampak pada laba rugi
dan penghasilan komprehensif lain konsolidasian
tahun berjalan.
Risiko tingkat suku bunga Interest rate risk
Risiko suku bunga dari kas di bank, deposito The interest rate risk from cash in banks, time deposits
berjangka, dan investasi jangka pendek tidak and short-term investments is not significant.
signifikan. Investasi pada surat utang negara, Investment in government bonds, bank loans and
pinjaman bank dan liabilitas sewa yang memiliki lease liabilities which bear fixed interest rates expose
tingkat suku bunga tetap mengekspos Grup terhadap the Group to fair value interest rate risk.
risiko nilai wajar suku bunga.
Tidak ada analisis sensitivitas yang dilakukan karena No sensitivity analysis is prepared as the Group does
Grup tidak memperkirakan adanya dampak material not expect any material effect on the Group’s profit or
terhadap laba atau rugi Grup yang timbul dari loss arising from the effects of reasonably possible
dampak perubahan suku bunga yang wajar pada changes to interest rates on interest bearing financial
instrumen keuangan berbunga pada akhir periode instruments at the end of the reporting period. The
pelaporan. Laba atau rugi Grup tidak terpengaruh Group’s profit or loss are not affected by changes in
oleh perubahan suku bunga karena instrumen interest rates as the interest-bearing instruments carry
berbunga tersebut memiliki tingkat bunga tetap dan fixed interest and are amortized cost.
merupakan biaya perolehan diamortisasi.
Grup memonitor secara ketat fluktuasi suku bunga The Group closely monitors the market interest rate
pasar dan ekspektasi pasar sehingga dapat fluctuation and market expectation so it can take
mengambil langkah-langkah yang paling necessary actions benefited most to the Group in due
menguntungkan Grup secara tepat waktu. time.
83
Page 294
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
32. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 32. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN (lanjutan) POLICIES (continued)
Faktor-faktor risiko keuangan (lanjutan) Financial risk factors (continued)
b. Risiko kredit b. Credit risk
Grup terekspos risiko kredit dari kas di bank, deposito The Group is exposed to credit risk from cash in bank,
berjangka, kas di bank dan deposito yang dibatasi time deposits, restricted cash in bank and time
penggunaannya, investasi jangka pendek, investasi deposits, short-term investments, investment in
pada surat utang negara, investasi reksa dana, government bond, investment in mutual funds, trade
piutang usaha, dan piutang lain-lain dari pihak ketiga. receivables and other receivables from third parties.
Semua kas di bank, deposito berjangka, kas dan All the cash in bank, time deposits, restricted cash in
deposito yang dibatasi penggunaannya ditempatkan banks and short-term investments are placed in foreign
di bank asing dan lokal yang memiliki reputasi dan and local banks with good reputation and rating.
peringkat yang baik.
Dalam pemilihan pelanggan, Grup menerapkan In selecting its customers, the Group applies prudent
kebijakan persetujuan atas kontrak penjualan acceptance policies of new sales contracts and
berdasarkan prinsip kehati-hatian serta melakukan perform ongoing monitoring as well as managing the
pengelolaan atas piutangnya. Sebagai bagian dari collection of its receivables. As part of the approval
proses persetujuan tersebut, reputasi dan catatan process, the customer’s reputation and track record
historis pelanggan menjadi bahan pertimbangan. are taken into consideration.
Berdasarkan penilaian manajemen atas kerugian Based on management’s assessment of the expected
kredit ekspektasian berdasarkan PSAK 109, credit losses under PSAK 109, the Group’s
manajemen Grup berkeyakinan bahwa cadangan management believes that the allowance for
kerugian penurunan nilai piutang usaha dan piutang impairment losses of trade and other receivables is
lain-lain telah memadai untuk menutup kemungkinan sufficient to cover possible losses from uncollectible
kerugian atas tidak tertagihnya piutang usaha. Lihat receivables. Refer to Note 6 for detailed receivables
Catatan 6 untuk rincian umur piutang dan cadangan aging and allowance for impairment losses of trade
kerugian penurunan nilai piutang usaha. receivables.
Piutang lain-lain dari pihak berelasi merupakan Other receivables from related parties represents the
piutang Grup dari pihak berelasinya atas klaim Group’s receivables from its related parties for
program loyalitas pelanggan dan pengembalian customer loyalty program claim and reimbursement of
aktivitas pemasaran. Berdasarkan penilaian marketing activities. Based on management’s
manajemen atas kerugian kredit ekspektasian assessment of the expected credit losses under PSAK
berdasarkan PSAK 109, manajemen Grup 109, the Group’s management believes that the
berkeyakinan bahwa kerugian kredit ekspektasian expected credit losses is close to nil, as such, no
untuk piutang lain-lain mendekati nihil, sehingga allowance for impairment of other receivables is
cadangan penurunan nilai atas piutang lain-lain tidak necessary.
diperlukan.
84
Page 295
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
32. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 32. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN (lanjutan) POLICIES (continued)
Faktor-faktor risiko keuangan (lanjutan) Financial risk factors (continued)
b. Risiko kredit (lanjutan) b. Credit risk (continued)
Tabel di bawah merinci kualitas kredit aset keuangan The table below details the credit quality of the Group’s
Grup serta eksposur maksimum risiko kredit menurut financial assets as well as maximum exposure to credit
peringkat risiko kredit: risk by credit risk rating grades:
2024
Peringkat Peringkat Jumlah
kredit kredit tercatat Jumlah
external/ internal/ bruto/ Cadangan tercatat
External Internal ECL 12 bulan atau sepanjang Gross kerugian/ neto/
credit credit umur/ carrying Loss Net carrying
rating rating 12-month or lifetime ECL amount allowance amount
Lancar/
Kas dan setara kas (Catatan 5) BBB Performing EC L 12 bulan/12-month ECL 2,329,491 - 2,329,491 Cash and cash equivalents (Note 5)
ECL sepanjang umur (pendekatan
sederhana)/ Lifetime ECL (simplified
approach)
Lancar/
Kas di bank dan deposito yang dibatasi BBB Performing ECL 12 bulan/12-month ECL 3,000 - 3,000 Restricted cash in bank
penggunaanya ECL sepanjang umur (pendekatan)/ and time deposits
Lifetime ECL (simplified approach)
Piutang usaha (Catatan 6) N/A (ii) ECL sepanjang umur (pendekatan 1,463,048 (1,311 ) 1,461,737 Trade receivables (Note 6)
sederhana)/ Lifetime ECL (simplified
approach)
Lancar/
Piutang lain-lain (Catatan 8) N/A Performing ECL sepanjang umur (pendekatan 128,703 - 128,703 Other receivables (Note 8)
sederhana)/ Lifetime ECL (simplified
approach)
BBB/Baa2 Lancar/
Investasi (Catatan 10) Performing EC L 12 bulan/12-month ECL 2,952,900 - 2,952,900 Investments (Note 10)
Total 6,877,142 (1,311 ) 6,875,831 Total
2023
Peringkat Peringkat Jumlah
kredit kredit tercatat Jumlah
external/ internal/ bruto/ Cadangan tercatat
External Internal ECL 12 bulan atau sepanjang Gross kerugian/ neto/
credit credit umur/ carrying Loss Net carrying
rating rating 12-month or lifetime ECL amount allowance amount
Lancar/
Kas dan setara kas (Catatan 5) BBB Performing ECL 12 bulan/12-month ECL 1,230,544 - 1,230,544 Cash and cash equivalents (Note 5)
ECL sepanjang umur (pendekatan
sederhana)/Lifetime ECL (simplified
approach)
Lancar/
Kas di bank dan deposito yang dibatasi BBB Performing ECL 12 bulan/12-month ECL 2,100 - 2,100 Restricted cash in bank
penggunaanya ECL sepanjang umur (pendekatan)/ and time deposits
Lifetime ECL (simplified approach)
Piutang usaha (Catatan 6) N/A (ii) ECL sepanjang umur (pendekatan 1,244,512 (1,469 ) 1,243,043 Trade receivables (Note 6)
sederhana)/ Lifetime ECL (simplified
approach)
Lancar/
Piutang lain-lain (Catatan 8) N/A Performing ECL sepanjang umur (pendekatan 105,869 - 105,869 Other receivables (Note 8)
sederhana)/ Lifetime ECL (simplified
approach)
BBB/Baa2 Lancar/
Investasi (Catatan 10) Performing ECL 12 bulan/12-month ECL 4,754,087 - 4,754,087 Investments (Note 10)
Total 7,337,112 (1,469 ) 7,335,643 Total
85
Page 296
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
32. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 32. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN (lanjutan) POLICIES (continued)
Faktor-faktor risiko keuangan (lanjutan) Financial risk factors (continued)
c. Risiko likuiditas c. Liquidity risk
Risiko likuiditas adalah risiko bahwa Grup akan Liquidity risk is the risk that the Group will have
mengalami kesulitan dalam membayar liabilitas difficulties in paying its financial liabilities. The Group
keuangannya. Grup mengelola risiko likuiditas manages its liquidity risk by maintaining an adequate
dengan mempertahankan kas dan setara kas yang level of cash and cash equivalents to cover its short-
cukup dalam memenuhi kebutuhan kas jangka term cash requirement. The Group also evaluates the
pendeknya. Grup juga secara rutin mengevaluasi projected and actual cash flows regularly, as well as
proyeksi arus kas dan arus kas aktual, serta jadwal the maturity date schedule of its financial assets and
tanggal jatuh tempo aset dan liabilitas keuangan. liabilities.
Tabel di bawah merupakan analisis jatuh tempo The following table analysis the Group’s financial
liabilitas keuangan Grup dalam rentang waktu yang liabilities by relevant maturity groupings based on their
menunjukkan jatuh tempo kontraktual untuk semua contractual maturities for an understanding of the
liabilitas keuangan untuk pemahaman terhadap arus timing of the cash flows. The amounts disclosed in the
kas. Jumlah yang diungkapkan dalam tabel adalah table are the contractual undiscounted cash flows
arus kas kontraktual yang tidak terdiskonto (termasuk (including principal and interest payments).
pembayaran pokok dan bunga).
Di bawah Lebih dari
satu tahun/ 1-5 tahun/ 5 tahun/More Jumlah/
Below one year years than 5 years Total
31 Desember 2024 December 31, 2024
Pinjaman bank Short-term
jangka pendek 9,360 - - 9,360 bank loans
Utang usaha 787,701 - - 787,701 Trade payables
Utang lain-lain 24,623 - - 24,623 Other payables
Beban akrual 252,661 - - 252,661 Accrued expenses
Uang jaminan pelanggan 3,000 - - 3,000 Customers guarantee
Liabilitas sewa 66,112 14,767 18,604 99,483 Lease liabilities
Jumlah 1,143,457 14,767 18,604 1,176,828 Total
Di bawah Lebih dari
satu tahun/ 1-5 tahun/ 5 tahun/More Jumlah/
Below one year years than 5 years Total
31 Desember 2023 December 31, 2023
Pinjaman bank Short-term
jangka pendek 5,319 - - 5,319 bank loans
Utang usaha 650,658 - - 650,658 Trade payables
Utang lain-lain 30,571 - - 30,571 Other payables
Beban akrual 301,835 - - 301,835 Accrued expenses
Uang jaminan pelanggan 2,100 - - 2,100 Customers guarantee
Liabilitas sewa 11,910 13,709 9,484 35,103 Lease liabilities
Jumlah 1,002,393 13,709 9,484 1,025,586 Total
86
Page 297
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
32. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 32. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN (lanjutan) POLICIES (continued)
Nilai Wajar Instrumen Keuangan Fair Value of Financial Instruments
Nilai tercatat dan taksiran nilai wajar dari instrumen The fair values of the financial assets and liabilities are the
keuangan Grup yang dicatat di laporan posisi keuangan carrying values and the estimated fair values of the Group
konsolidasian tanggal 31 Desember 2024 dan 2023, financial instruments that are carried in the consolidated
adalah sebagai berikut: statements of financial position as of December 31, 2024
and 2023, are as follows:
31 Desember 2024/ 31 Desember 2023/
December 31, 2024 December 31, 2023
Nilai Tercatat/ Nilai Wajar/ Nilai Tercatat/ Nilai Wajar/
Carrying Value Fair Values Carrying Value Fair Values
Aset Keuangan Financial Assets
Kas dan setara kas 2,329,491 2,329,491 1,230,544 1,230,544 Cash and cash equivalents
Kas di bank dan deposito berjangka Restricted cash in bank
yang dibatasi penggunaannya 3,000 3,000 2,100 2,100 and time deposits
Investasi 2,952,900 2,952,900 4,754,087 4,754,087 Investments
Piutang usaha 1,461,737 1,461,737 1,243,043 1,243,043 Trade receivables
Piutang lain-lain 128,703 128,703 105,869 105,869 Other receivables
Jumlah Aset Keuangan 6,875,831 6,875,831 7,335,643 7,335,643 Total Financial Assets
Liabilitas Keuangan Financial Liabilities
Pinjaman bank jangka pendek 9,189 9,189 5,222 5,222 Short-term bank loans
Utang usaha 787,701 787,701 650,658 650,658 Trade payables
Utang lain-lain 24,623 24,623 30,571 30,571 Other payables
Beban akrual 252,661 252,661 301,835 301,835 Accrued expenses
Uang jaminan pelanggan 3,000 3,000 2,100 2,100 Customer guarantee
Liabilitas sewa 84,193 84,193 26,690 26,690 Lease liabilities
Jumlah Liabilitas Keuangan 1,161,367 1,161,367 1,017,076 1,017,076 Total Financial Liabilities
Nilai wajar aset dan liabilitas keuangan ditentukan The fair values of the financial assets and liabilities are
berdasarkan jumlah dimana instrumen tersebut dapat determined based on the amount at which the instrument
dipertukarkan dalam transaksi kini antara pihak-pihak yang could be exchanged in a current transaction between willing
berkeinginan (willing parties) dan bukan merupakan parties, other than in a forced sale or liquidation.
pendapatan yang dipaksakan atau likuidasi.
Instrumen keuangan yang disajikan di dalam laporan Financial instruments presented in the consolidated
posisi keuangan konsolidasian dicatat sebesar nilai wajar, statements of financial position are carried at fair values,
atau disajikan dalam jumlah tercatat baik karena jumlah otherwise, they are presented at carrying amounts as either
tersebut adalah kurang lebih sebesar nilai wajarnya atau these are reasonable approximation of fair values or their
karena nilai wajarnya tidak dapat diukur secara andal. fair values cannot be measured reliably.
Metode dan asumsi berikut ini digunakan untuk The following methods and assumptions were used to
mengestimasi nilai wajar untuk setiap kelompok instrumen estimate the fair value of each class of financial instrument
keuangan yang praktis untuk memperkirakan nilai for which it is practicable to estimate such value.
tersebut.
Nilai tercatat dari kas dan setara kas, kas di bank dan The carrying value of cash and cash equivalents, restricted
deposito berjangka yang dibatasi penggunaannya, cash in bank and time deposits, short-term investments,
investasi jangka pendek, piutang usaha, piutang lain-lain, trade receivables, other receivables, short-term bank loans,
pinjaman bank jangka pendek, utang usaha, utang lain- trade payables, other payables, accrued expenses and
lain, beban akrual dan uang jaminan pelanggan mendekati customer guarantee approximate their fair values due to
nilai wajarnya karena bersifat jangka pendek. their short-term nature.
87
Page 298
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
32. TUJUAN DAN KEBIJAKAN MANAJEMEN RISIKO 32. FINANCIAL RISK MANAGEMENT OBJECTIVE AND
KEUANGAN (lanjutan) POLICIES (continued)
Nilai Wajar Instrumen Keuangan (lanjutan) Fair Value of Financial Instruments (continued)
Investasi pada surat utang negara dan reksa dana Investment in government bonds and mutual funds
merupakan aset Grup yang nilai wajarnya didasarkan represent the Group’s assets for which the fair value is
pada kuotasi harga pasar terakhir (Level 1). stated based on the last quoted market prices (Level 1).
Nilai wajar atas liabilitas sewa dinilai menggunakan The fair value of lease liabilities are determined by
diskonto arus kas berdasarkan tingkat suku bunga efektif. discounting cash flows at effective interest rate.
33. TAMBAHAN INFORMASI ARUS KAS 33. SUPPLEMENTARY CASH FLOW INFORMATION
a. Aktivitas non-kas a. Non-cash activities
Aktivitas non-kas yang mendukung laporan arus kas Non-cash activities supporting the statement of cash
pada setiap tanggal pelaporan adalah sebagai flows at each reporting dates are as follows:
berikut:
2024 2023
Penambahan aset hak-guna Addition of right-of-use assets
melalui liabilitas sewa 82,261 11,993 through lease liabilities
Penambahan aset tetap melalui Addition of fixed assets through
reklasifikasi uang muka reclassification from payment for
pembelian aset tetap 36,658 7,767 purchase of fixed assets
Penambahan aset tetap melalui Addition of fixed assets through
utang usaha - 7,864 trade payables
b. Rekonsiliasi utang neto b. Net debt reconciliation
Kas/cerukan/
Cash/Bank Liabilitas sewa/ Jumlah/
overdraft Lease liabilities Total
Saldo Balance of
1 Januari 2023 2,163,491 (73,533 ) 2,089,958 January 1, 2023
Arus kas (938,169 ) 58,836 (879,333 ) Cash flows
Tambahan liabilitas sewa - (11,993 ) (11,993 ) Addition of lease liabilities
Saldo Balance of
31 Desember 2023 1,225,322 (26,690 ) 1,198,632 December 31, 2023
Arus kas 1,094,980 24,758 1,119,738 Cash flows
Tambahan liabilitas sewa - (82,261 ) (82,261 ) Addition of lease liabilities
Saldo Balance of
31 Desember 2024 2,320,302 (84,193 ) 2,236,109 December 31, 2024
88
Page 299
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
33. TAMBAHAN INFORMASI ARUS KAS (lanjutan) 33. SUPPLEMENTARY CASH FLOW INFORMATION
(continued)
c. Pengaturan pembiayaan pemasok c. Supplier finance arrangements
Grup mengoperasikan pengaturan pembiayaan The Group operates the following types of supplier
pemasok sebagai berikut dengan PT Bank DBS finance arrangements with PT Bank DBS Indonesia:
Indonesia:
• Untuk memastikan akses mudah ke kredit untuk • In order to ensure easy access to credit for its
pemasoknya dan memfasilitasi penyelesaian suppliers and facilitate early settlement, the Group
awal, Grup telah melakukan pengaturan has entered into supplier finance arrangements
pembiayaan pemasok yang memungkinkan that permit the suppliers to obtain payment from
pemasok untuk mendapatkan pembayaran dari the banks for the amounts billed maximum up to
bank untuk jumlah yang ditagih maksimum 90 days before the invoice due date. The
hingga 90 hari sebelum tanggal jatuh tempo arrangements permit the banks to early settle
faktur. Pengaturan memungkinkan bank untuk invoices of up to Rp 300,000 per month. The
melunasi faktur lebih awal hingga Rp 300.000 per Group repays the banks the full invoice amount on
bulan. Grup membayar bank jumlah faktur penuh the scheduled payment date as required by the
pada tanggal pembayaran yang dijadwalkan invoice. As the arrangements do not permit the
seperti yang tertera dalam faktur. Karena Group to extend finance from the banks by paying
pengaturan tidak mengizinkan Grup untuk them later than the Group would have paid its
memperpanjang pembiayaan dari bank dengan suppliers, the Group considers amounts payable to
membayarnya lebih lambat dari Grup akan the banks should be presented as part of trade
membayar pemasoknya, Grup tersebut account payables. As of December 31, 2024,
menganggap jumlah yang dibayarkan kepada 9.64%, of trade account payables were amounts
bank disajikan sebagai bagian dari utang usaha. owed under these arrangements.
Pada tanggal 31 Desember 2024, 9,64% dari
utang usaha adalah jumlah yang terutang
berdasarkan pengaturan ini.
2024
Jumlah tercatat dari liabilitas Carrying amount of the
keuangan yang merupakan financial liabilities that are
subjek dari perjanjian subject to supplier finance
pembiayaan pemasok arrangement
Disajikan sebagai bagian dari Presented as part of
“utang usaha” 75,906 “trade payables”
Rentang tanggal jatuh tempo Hari/Days Range of payment due dates
pembayaran (setelah tanggal (after invoice date)
faktur)
Untuk liabilitas yang disajikan For liabilities presented as part
sebagai bagian dari “utang usaha”: of “trade payables”:
Liabilitas yang merupakan bagian Liabilities that are part of
dari perjanjian pembiayaan supplier finance
pemasok 60 arrangements
Utang usaha yang dapat
dibandingkan yang bukan
merupakan bagian dari Comparable trade payables
pengaturan pembiayaan that are not part of supplier
pemasok 30 - 60 finance arrangement
89
Page 300
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
33. TAMBAHAN INFORMASI ARUS KAS (lanjutan) 33. SUPPLEMENTARY CASH FLOW INFORMATION
(continued)
c. Pengaturan pembiayaan pemasok (lanjutan) c. Supplier finance arrangements (continued)
Perubahan dalam liabilitas yang merupakan bagian Changes in liabilities that are subject to supplier
dari pengaturan pembiayaan pemasok terutama finance arrangements are primarily attributable to
disebabkan oleh pembelian barang dan penyelesaian additions resulting from purchases of goods and
kas. Tidak ada perubahan non-kas yang material subsequent cash settlements. There were no material
dalam liabilitas ini. non-cash changes in these liabilities.
Grup tidak menghadapi risiko likuiditas yang The Group does not face a significant liquidity risk as a
signifikan sebagai akibat dari pengaturan result of its supplier finance arrangements given the
pembiayaan pemasoknya mengingat jumlah liabilitas limited amount of liabilities subject to supplier finance
pada pengaturan pembiayaan pemasok yang arrangements and the group’s access to other sources
terbatas dan akses Grup ke sumber pembiayaan lain of finance on similar terms.
dengan persyaratan serupa.
34. KOMITMEN 34. COMMITMENTS
Pengeluaran modal yang telah diperjanjikan pada tanggal Capital expenditure contracted as of December 31, 2024
31 Desember 2024 dan 2023 namun belum diakui sebagai and 2023 but not yet recognised as liabilities amounted to
kewajiban masing-masing sebesar Rp 61.743 dan Rp 61,743 and Rp 74,178, respectively.
Rp 74.178.
35. INFORMASI SEGMEN 35. SEGMENT INFORMATION
Manajemen telah menentukan segmen operasi Management has determined the operating segments
berdasarkan laporan yang ditelaah oleh Direksi, yang telah based on the reports reviewed by the Directors, who has
diidentifikasikan sebagai pengambil keputusan operasional been identified as the Group’s chief operating decision
utama Grup (”CODM”) dan yang mengambil keputusan maker (“CODM”) and made strategic decisions. The Group
strategis. Grup menentukan segmen operasi menurut determines the operating segment by group of products.
kelompok produk yang dijual. Grup menentukan segmen
operasi menurut kelompok produk.
Informasi segmen yang diberikan kepada Direksi untuk The segment information provided to the Directors for the
segmen dilaporkan adalah sebagai berikut: reportable segments is as follows:
2024
Solusi Barang
arsitektur/ dagangan/
Architectural Trading Jumlah/
solution goods Total
Penjualan neto 5,847,703 1,623,653 7,471,356 Net revenues
Beban pokok penjualan (2,852,891) (1,277,715) (4,130,606) Cost of goods sold
Laba bruto 2,994,812 345,938 3,340,750 Gross profit
Beban usaha Operating expenses
Beban penjualan - - (1,318,417) Selling expenses
Beban umum General and administrative
dan administrasi - - (253,243) expenses
Jumlah Beban Usaha - - (1,571,660) Total Operating Expenses
Laba usaha 1,769,090 Operating profit
90
Page 301
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
35. INFORMASI SEGMEN (lanjutan) 35. SEGMENT INFORMATION (continued)
Informasi segmen yang diberikan kepada Direksi untuk The segment information provided to the Directors for the
segmen dilaporkan adalah sebagai berikut (lanjutan): reportable segments is as follows (continued):
2024
Solusi Barang
arsitektur/ dagangan/
Architectural Trading Jumlah/
solution goods Total
Penghasilan (beban) lain-lain Other income (expenses)
Pendapatan keuangan - - 285,105 Finance income
Beban keuangan - - (2,539) Finance costs
Bagian atas laba - - Share of profit of
ventura bersama 2,678 a joint venture
Pendapatan lain-lain - neto - - 14,260 Other income - net
Laba sebelum Profit before income
pajak penghasilan - - 2,068,594 tax expense
Beban pajak penghasilan - - (404,895) Income tax expense
Laba tahun berjalan - - 1,663,699 Income for the year
Informasi segmen lainnya Other segment information
Belanja modal yang tidak Unallocated
dapat dialokasikan - - 406,551 capital expenditures
Beban depresiasi dan Unallocated
amortisasi yang tidak depreciation and
dapat dialokasikan - - 251,137 amortisation expenses
Aset dan liabilitas Assets and liabilities
Aset yang tidak dapat dialokasikan - - 11,060,975 Unallocated assets
Aset Grup - - 11,060,975 The Group’s assets
Liabilitas yang tidak dapat
dialokasikan - - 1,429,095 Unallocated liabilities
Liabilitas Grup - - 1,429,095 The Group’s liabilities
2023
Solusi Barang
arsitektur/ dagangan/
Architectural Trading Jumlah/
solution goods Total
Penjualan neto 5,618,025 1,398,857 7,016,882 Net revenues
Beban pokok penjualan (2,686,054) (1,147,492) (3,833,546) Cost of goods sold
Laba bruto 2,931,971 251,365 3,183,336 Gross profit
Beban usaha Operating expenses
Beban penjualan - - (1,240,237) Selling expenses
Beban umum General and administrative
dan administrasi - - (226,090) expenses
Jumlah Beban Usaha (1,466,327) Total Operating Expenses
Laba usaha 1,717,009 Operating profit
91
Page 302
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
35. INFORMASI SEGMEN (lanjutan) 35. SEGMENT INFORMATION (continued)
Informasi segmen yang diberikan kepada Direksi untuk The segment information provided to the Directors for the
segmen dilaporkan adalah sebagai berikut (lanjutan): reportable segments is as follows (continued):
2023
Solusi Barang
arsitektur/ dagangan/
Architectural Trading Jumlah/
solution goods Total
Penghasilan (beban) lain-lain Other income (expenses)
Pendapatan keuangan - - 286,259 Finance income
Beban keuangan - - (4,077) Finance costs
Bagian atas laba Share of profit of
ventura bersama - - 898 a joint venture
Pendapatan (beban) lain-lain - neto - - (7,946) Other income (expenses) - net
Laba sebelum Profit before income
pajak penghasilan - - 1,992,143 tax expense
Beban pajak penghasilan - - (349,047) Income tax expense
Laba tahun berjalan - - 1,643,096 Income for the year
Informasi segmen lainnya Other segment information
Belanja modal yang tidak Unallocated
dapat dialokasikan - - 215,723 capital expenditures
Beban depresiasi dan Unallocated
amortisasi yang tidak depreciation and
dapat dialokasikan - - 218,794 amortisation expenses
Aset dan liabilitas Assets and liabilities
Aset yang tidak dapat dialokasikan - - 11,166,987 Unallocated assets
Aset Grup - - 11,166,987 The Group’s assets
Liabilitas yang tidak dapat
dialokasikan - - 1,245,498 Unallocated liabilities
Liabilitas Grup - - 1,245,498 The Group’s liabilities
SEGMEN GEOGRAFIS GEOGRAPHICAL SEGMENT
2024 2023
Pendapatan neto Net revenues
Lokal 7,471,356 7,016,882 Local
Manajemen memonitor hasil dari kegiatan segmen Management monitors the operating results of its
dilaporkan secara terpisah dengan tujuan untuk reportable segments separately for the purpose of making
mengambil keputusan mengenai alokasi atas sumber decisions about resource allocation and performance
daya dan penilaian kinerja. Kinerja segmen dievaluasi assessment. Segment performance is evaluated based on
berdasarkan laba bruto. Beban penjualan, beban umum gross margin. The Group’s selling expenses, general and
dan administrasi, beban dan penghasilan keuangan, administrative expenses, finance income and costs, other
penghasilan (beban) lain-lain, neto, bagian dari laba (rugi) income (expenses), net, share in profit (loss) of a joint
ventura bersama dan pajak penghasilan Grup tidak venture and income taxes are not included in the measure
termasuk dalam ukuran laba rugi yang dilaporkan kepada of profit or loss that is reported to the CODM and therefore
CODM sehingga tidak dialokasikan pada segmen are not allocated to the reportable segments.
dilaporkan.
92
Page 303
The original consolidated financial statements included herein are in
the Indonesian language.
PT AVIA AVIAN Tbk
DAN ENTITAS ANAKNYA PT AVIA AVIAN Tbk
CATATAN ATAS LAPORAN KEUANGAN AND ITS SUBSIDIARIES
KONSOLIDASIAN NOTES TO THE CONSOLIDATED
Tanggal 31 Desember 2024 FINANCIAL STATEMENTS
serta Untuk Tahun yang Berakhir As of December 31, 2024
Pada Tanggal Tersebut and For the Year Then Ended
(Disajikan dalam jutaan Rupiah, (Expressed in millions of Rupiah,
kecuali dinyatakan lain) unless otherwise stated)
36. REKLASIFIKASI LAPORAN POSISI KEUANGAN 36. RECLASSIFICATION OF CONSOLIDATED STATEMENT
KONSOLIDASIAN OF FINANCIAL POSITION
Grup melakukan reklasifikasi pada laporan posisi The Group made reclassifications in the 2023 consolidated
keuangan konsolidasian 2023 untuk menyesuaikan statement of financial position to align the recognition of
pengakuan aset hak-guna dengan penyajian dalam right-of-use assets with the presentation in the 2024
laporan posisi keuangan konsolidasian 2024 untuk consolidated statement of financial position for the following
transaksi berikut: transactions:
Seperti yang
dinyatakan
sebelumnya/ Setelah
As previously Reklasifikasi/ reklasifikasi/
reported Reclassification As reclassified
Laporan posisi keuangan Consolidated statement of financial
konsolidasian position
Aset Assets
Aset lancar Current assets
Beban dibayar dimuka 58,004 (46,623) 11,381 Prepaid expenses
Aset tidak lancar Non-current assets
Aset hak-guna 95,252 55,299 150,551 Right-of-use assets
Aset tidak lancar lainnya 48,618 (8,676) 39,942 Other non-current assets
Laporan arus kas Consolidated statement of
konsolidasian cash flows
Arus kas dari aktivitas operasi Cash flows from operating activities
Pembayaran ke pemasok (4,397,297) 55,299 (4,341,998) Payments to suppliers
Arus kas dari aktivitas investasi Cash flows from investing activities
Perolehan aset hak-guna (14,289) (55,299) (69,588) Additions of right-of-use assets
37. KEJADIAN SETELAH PERIODE PELAPORAN 37. SUBSEQUENT EVENTS AFTER REPORTING PERIOD
Pembelian saham treasuri Purchase of treasury shares
Sampai dengan tanggal laporan keuangan konsolidasian Up to the issuance date of these consolidated financial
ini diterbitkan, Perusahaan telah melakukan pembelian statements, the Company repurchased 261,550,800 shares
kembali 261.550.800 lembar saham biasa Perusahaan of its own ordinary shares through purchases on the IDX
melalui pembelian pada BEI (Catatan 1b). Pembelian (Note 1b). This repurchase transaction is intended to
kembali saham Perusahaan ini ditujukan untuk menjaga stabilise the Company’s share price. The total amounts paid
stabilitas harga saham Perusahaan. Jumlah pembayaran to acquire the shares were Rp 108,304 (Rp 382 -
untuk mengakuisisi saham tersebut adalah sebesar Rp 432/share - full amount).
Rp 108.304 (Rp 382 - Rp 432/lembar saham - nilai penuh).
93
Page 304
Names mentioned 138 people and organisations named in the text · linked when the evidence is strong
unresolved
org
Financial Services Authority
p.2 ×6
unresolved
org
Indonesia Stock Exchange
p.5 ×12
unresolved
org
Yayasan Keanekaragaman Hayati Indonesia
p.20 ×4
unresolved
org
Ministry of Environment and Forestry
p.21 ×3
unresolved
org
Kementerian Lingkungan Hidup dan Kehutanan
p.21
unresolved
org
PT Tirtakencana Tatawarna
p.24 ×23
unresolved
org
PT Tirtakencana Batamindo
p.24 ×13
unresolved
org
Yayasan Keanekaragaman Hayati
p.25
unresolved
org
Ministry of Environment
p.25
unresolved
org
PT Lloyd’s Register Indonesia
p.26 ×8
unresolved
org
Information Security Intertek Certification Limited
p.26
unresolved
org
LRQA Limited
p.26 ×16
unresolved
org
LRQA Limited LRQA Group Limited
p.26 ×2
unresolved
org
LRQA Group Limited
p.26 ×5
unresolved
org
LRQA'. LRQA Group Limited
p.26
unresolved
org
PT. Lloyd's Register Indonesia Issued
p.26
unresolved
org
PT. Lloyd's Register Indonesia Area Operations Manager
p.26
unresolved
org
Ministry of Industry Supersilk
p.27
unresolved
org
Ministry of Industry
p.30 ×37
unresolved
person
Indrawati Setiabudhi
· Notaris
p.50 ×2
unresolved
org
Minister of Justice
p.50
unresolved
org
Malang District Court
p.50
unresolved
org
Ministry of Law and Human Rights
p.51
unresolved
person
Soetikno Tanoko’s Mr. Soetikno Tanoko
p.52 ×5
unresolved
org
PT Walt Disney Indonesia
p.53
unresolved
org
Pte Ltd
p.53 ×3
unresolved
org
PT Bangun Bersama Solusindo Archipelago Pte Ltd.
p.53
unresolved
org
PT Cipta Mortar Utama
p.53
unresolved
org
PT Bangun Bersama Solusindo
p.53 ×6
unresolved
org
PT Bira Industri Rejeki Agung
p.53
unresolved
org
PT Multipro Paint Indonesia
p.53 ×9
unresolved
org
PT Tirtakencana
p.54 ×2
unresolved
org
Minister of Manpower
p.54
unresolved
person
Hermanto Tanoko. Mr. Soetikno Tanoko
· Member
p.55 ×28
unresolved
person
Robert Christian Tanoko. At
· Director
p.55 ×30
unresolved
org
PT Solusi Rumah Praktis
p.55 ×8
unresolved
org
PT Tirtakencana Tatawarna. Architectural Solutions Wall
p.61
unresolved
org
Ministry of Manpower
p.64
unresolved
person
Iwan Sigit
· Member
p.66 ×2
unresolved
person
Anwar
· Notaris
p.69 ×12
unresolved
org
PT Tancorp Global Sentosa
p.69
unresolved
org
PT Avia Avian Industri Pipa
p.69 ×10
unresolved
org
Ministry of Finance
p.70 ×3
unresolved
org
Indonesia Money Printing Corporation
p.70
unresolved
org
Ristia Bintang Mahkota Sejati Tbk
p.70 ×2
unresolved
org
PT Kliring Penjaminan Efek Indonesia
p.70
unresolved
org
PT Kustodian Sentral Efek Indonesia
p.70
unresolved
org
PT Bursa Efek Indonesia. Affiliation Mr. Mohammad Noor
p.70
unresolved
org
Shanghai Banking Corporation Limited
p.72
unresolved
org
PT Tiga Arga
p.76
unresolved
org
PT Nipsea Paint
p.76
unresolved
org
PT Tancorp Surya
p.77
unresolved
org
PT Wahana Lancar
p.77
unresolved
org
PT Sensasi Istana Warna Robert Christian
p.77
unresolved
org
PT Jaya
p.78
unresolved
org
PT Sensasi
p.78 ×2
unresolved
org
PT Asiapasifik
p.78
unresolved
org
PT Vistra
p.78
unresolved
org
PT Rukun
p.78
unresolved
org
PT Sinar Surya
p.78
unresolved
org
PT Marco Mega Tjijen
p.78
unresolved
org
PT Wira Laju
p.78
unresolved
org
PT Tancorp
p.78 ×2
unresolved
org
PT Voka Rejeki
p.78
unresolved
org
PT Wahana
p.78
unresolved
org
PT Tancorp Surya Sentosa. Meanwhile
p.78
unresolved
org
PT Bangun Bersama
p.80 ×2
unresolved
org
PT Multipro Paint
p.80
unresolved
org
PT Solusi Rumah Praktis Solusindo
p.80
unresolved
org
PT Tirtakencana Tatawarna Legal Basis
p.81
unresolved
person
Dyah Ambarwaty Setyoso
p.81
unresolved
org
PT Solusi Rumah Praktis Legal Basis
p.81
unresolved
org
PT Multipro Paint Indonesia Legal Basis
p.81
unresolved
person
Operating Rusdi Mulyono
p.81
unresolved
org
PT Bangun Bersama Solusindo Legal Basis
p.82
unresolved
person
Operating Emmyra Fauzia Kariana
p.82
unresolved
person
None Notary Dr. Susanti
p.82
unresolved
org
PT Bima Registra
p.82
unresolved
org
PT Tirtakencana Tatawarna TKBI
p.86
unresolved
org
PT Bangun Bersama Solusindo SRP
p.86
unresolved
org
Pusat Statistik
p.98 ×2
unresolved
org
Bank Indonesia
p.98 ×2
unresolved
org
PT Panca Kalsiumindo Perkasa. Avian Brands’
p.102
unresolved
person
Akta Notaris Liestiani Wang
· Notaris
p.218 ×2
unresolved
org
Minister of Law and Human Rights
p.218
unresolved
org
Menteri Hukum dan Hak Asasi Manusia Republik
p.218
unresolved
org
PT SRP
p.220
unresolved
org
PT MPI
p.220
unresolved
org
PT TKTW
p.220 ×2
unresolved
org
PT TKBI
p.220
unresolved
org
PT Megadepo
p.263
unresolved
org
PT Caturkarda Depo
p.263
unresolved
org
Bangunan Tbk
p.263
unresolved
org
PT Megadepo Indonesia
p.263 ×2
unresolved
org
PT Bangun Bersama Solusindo Lain-lain
p.263 ×2
unresolved
org
PT Wahana Lentera Raya
p.263 ×4
unresolved
org
PT Wahana Lentera Raya Lain-lain
p.263 ×2
unresolved
org
PT Sarana Depo Kencana
p.263 ×2
unresolved
org
PT Mitra Mulia Makmur
p.265 ×2
unresolved
org
PT Kencana Lintasindo Internasional
p.265 ×2
unresolved
org
PT Panca Kalsiumindo Perkasa
p.265 ×2
unresolved
org
PT Wahana Lancar Rejeki Archipelago Investment
p.285 ×2
unresolved
org
Archipelago Investment Private Limited
p.285
unresolved
org
Private Limited
p.285 ×3
unresolved
—
Rudi Tanoko
p.285 ×2
unresolved
—
Rony Tanoko
p.285 ×2
unresolved
—
kepemilikan di bawah 5%)
p.285 ×2
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