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                        KETERBUKAAN INFORMASI SEHUBUNGAN DENGAN
                                PENAMBAHAN KEGIATAN USAHA
                                     dalam rangka memenuhi
                    Peraturan Otoritas Jasa Keuangan Nomor 17/POJK.04/2020
            tentang Transaksi Material dan Perubahan Kegiatan Usaha (“POJK 17/2020”)
                                 (“KETERBUKAAN INFORMASI”)

                           DISCLOSURE OF INFORMATION RELATED TO
                                ADDITIONAL BUSINESS ACTIVITIES
                                          to comply with
                the Financial Services Authority Regulation No. 17/POJK.04/2020
        regarding Material Transaction and Change of Business Activities (“POJK 17/2020”)
                                         (“DISCLOSURE”)




                                              PT INDOSPRING Tbk
                                          (“Perseroan”) / (“Company”)

                                 Berkedudukan di Gresik / Domiciled in Gresik
                                        Bidang Usaha / Line of Business:
          Bergerak di bidang industri suku cadang kendaraan roda dua dan roda empat atau lebih
        Operating in the industry of spare parts for two-wheeled and four-wheeled vehicles or more.

                                          Kantor Pusat / Head Office:
                           Jl. Mayjend. Sungkono No. 10 Segoromadu, Gresik, 61123
                      Telepon / telephone: (031) 3981135 Faksimile / Fax: (031)3981531
                                        E-mail: corsec@indospring.co.id
                                   Situs web /website: www.indospring.co.id

Direksi dan Dewan Komisaris Perseroan bertanggung             The Board of Directors and Board of
jawab atas kebenaran dari seluruh informasi material          Commissioners of the Company are responsible for
yang dimuat dalam Keterbukaan Informasi ini dan               the accuracy of all material information set out in this
setelah melakukan penelitian secara seksama atas              Disclosure, and after carefully reviewing the
informasi-informasi yang tersedia (sebagaimana                available information (as defined in this Disclosure),
didefinisikan dalam Keterbukaan Informasi ini), dengan        it is hereby confirmed that to the best of their
ini menyatakan bahwa sepanjang pengetahuan dan                knowledge and understanding, all material
keyakinan mereka, seluruh informasi material telah            information has been disclosed in this Disclosure
diungkapkan dalam Keterbukaan Informasi ini dan               and such information is not misleading.
informasi tersebut tidak menyesatkan.

Perubahan Keterbukaan Informasi ini diterbitkan di            This Amanded Disclosure is issued in Gresik on
Gresik pada tanggal 10 Juni 2024 untuk                        10 June 2024 to replace the previos disclosureof
menggantikan keterbukaan informasi sebelumnya                 information dated 6 May 2024.
pada tanggal 6 Mei 2024.
Page 2
                                                                                              1


                                   PENDAHULUAN / FOREWORD

Keterbukaan Informasi ini dibuat sehubungan         This Disclosure is made with regards to the
dengan rencana Perseroan untuk menambah             plan of the Company to add its business
kegiatan usahanya dengan merujuk pada               activities with reference to the 2020 Indonesian
Klasifikasi Baku Lapangan Usaha Indonesia           Standard Business Field Classification (“KBLI”)
(“KBLI”) tahun 2020 yang diatur dalam               as stipulated in the Central Statistics Agency
Peraturan Badan Pusat Statistik No. 2 tahun         Regulation No. 2 of 2020 on the Indonesian
2020 tentang Klasifikasi Baku Lapangan Usaha        Standard Industrial Classification (“Additional
Indonesia (“Penambahan Kegiatan Usaha”).            Business Activities”).

Sesuai dengan ketentuan yang berlaku,               Pursuant to the applicable regulations, the
rencana Penambahan Kegiatan Usaha tersebut          proposed Additional Business Activities requires
perlu mendapatkan persetujuan Rapat Umum            the approval of the General Meeting of the
Pemegang Saham Perseroan. Perseroan                 Shareholders of the Company. The Company
bermaksud untuk meminta persetujuan                 intends to seek said approval at the Company's
tersebut dalam Rapat Umum Pemegang                  Extraordinary      General      Meeting       of
Saham Luar Biasa Perseroan yang rencananya          Shareholders, which is planned to be held on 12
akan diselenggarakan pada tanggal 12 Juni           Juni 2024 (“2024 EGMS”).
2024 (“RUPSLB 2024”).

Sampai     dengan     tanggal    diterbitkannya     Until the data of this Amended Disclosure, there
Perubahan Keterbukaan Informasi ini, tidak          are no objection from any third parties on the
terdapat keberatan dari pihak ketiga manapun        proposed additional business activities. If after
terkait dengan rencana penambahan kegiatan          the date of this Amended Disclosure, there are
usaha. Dalam hal terdapat keberatan dari pihak      objections from third parties on the proposed
ketiga atas rencana penambahan kegiatan             additional business activities, the Company will
usaha setelah tanggal diterbitkannya Perubahan      comply with the applicable laws and
Keterbukaan Informasi ini, Perseroan akan           regulations in following up the matter.
memenuhi ketentuan perundang-undangan
yang berlaku dalam menindaklanjuti hal
tersebut.


              I. URAIAN MENGENAI PERSEROAN / BRIEF DESCRIPTION ON THE COMPANY

Riwayat Singkat                                       Brief History

PT     Indospring     Tbk      (“Perusahaan”)         PT Indospring Tbk (the “Company”),
berkedudukan di Gresik, didirikan berdasarkan         domiciled in Gresik, was established based
akta Notaris No. 10 tanggal 5 Mei 1978 dari           on Notarial deed No. 10 dated 5 May 1978 of
Notaris Stefanus Sindunatha, S.H., dengan             Notary Stefanus Sindunatha, S.H., with
status Penanaman Modal Dalam Negeri                   Domestic Investment status. The deed of
(PMDN). Akta pendirian tersebut telah                 establishment was approved by the Minister
disahkan oleh Menteri Kehakiman Republik              of Justice of the Republic of Indonesia in his
Indonesia dengan Surat Keputusan No.                  Decision Letter No. YA.5/324/1 dated 14
YA.5/324/1 tanggal 14 Desember 1979 dan               December 1979 and was published in the
telah diumumkan dalam Berita Negara                   State Gazette of the Republic of Indonesia
Republik Indonesia No. 71 tanggal 2                   No. 71 dated 2 September 1980, Supplement
September 1980, Tambahan No. 674.                     No. 674.
Page 3
                                                                                                    2

Anggaran Dasar Perseroan telah disesuaikan            The Company’s articles of association have been
dengan Undang-Undang No. 40 Tahun 2007                amended to conform with Law No. 40 Year 2007
mengenai Perseroan Terbatas, dengan akta              regarding Limited Liability Company, based on
Notaris No. 18 tanggal 8 Juli 2008 yang dibuat oleh   Notarial deed No. 18 dated 8 July 2008 of Notary
Notaris Dyah Ambarwaty Setyoso, S.H., dan telah       Dyah Ambarwaty Setyoso, S.H., and was
mendapatkan persetujuan dari Menteri Hukum            approved by the Minister of Law and Human
dan Hak Asasi Manusia Republik Indonesia dengan       Rights of the Republic of Indonesia in his Decision
Surat Keputusan No. AHU-98441.AH.01.02 tahun          Letter No. AHU-98441.AH.01.02.Tahun 2008
2008 tanggal 19 Desember 2008, serta telah            dated 19 December 2008 and was published in
diumumkan dalam Lembaran Berita Negara                the State Gazette of the Republic of Indonesia
Republik Indonesia No. 41 tanggal 22 Mei 2009,        No. 41 dated 22 May 2009, Supplement No.
Tambahan No. 13535.                                   13535.
Anggaran dasar Perusahaan telah mengalami             The Company’s articles of association have been
beberapa kali perubahan, terakhir berdasarkan         amended several times, the latest of which was
akta Notaris No. 25 tanggal 21 April 2021 oleh        based on Notarial deed No. 25 dated 21 April
Notaris Siti Nurul Yuliami, S.H., M.Kn mengenai       2021 of Notary Siti Nurul Yuliami, S.H., M.Kn
perubahan anggaran dasar Perusahaan untuk             regarding amendment of the Company’s articles
menyesuaikan maksud dan tujuan serta kegiatan         of association to conform the aims and
Perusahaan sesuai dengan Klasifikasi Baku             objectives and activities of the Company in
Lapangan Usaha Indonesia tahun 2017 dan               accordance with the 2017 Indonesian Standards
Peraturan Otoritas Jasa Keuangan (POJK) No.           Business Classification and Otoritas Jasa
15/POJK.04/2020 mengenai rencana dan                  Keuangan        regulation       (POJK)         No.
penyelenggaraan Rapat Umum Pemegang Saham             15/POJK.04/2020 regarding planning and
Perusahaan Terbuka. Akta tersebut telah diterima      organization of the General Meeting of
dan dicatat dalam database Sistem Administrasi        shareholders of Public Companies. The deed was
Badan Hukum Kementerian Hukum dan Hak Asasi           received and recorded in the database of the
Manusia Republik Indonesia No. AHU-                   Administration System of the Ministry of Law
0025530.AH.01.02.Tahun 2021 tanggal 27 April          and Human Rights of the Republic of Indonesia
2021.                                                 No. AHU-0025530.AH.01.02.Tahun 2021 dated
                                                      27 April 2021.

Berdasarkan Pasal 3 anggaran dasar Perseroan,         In accordance with Article 3 of the Company’s
ruang lingkup dari aktivitas Perseroan bergerak       articles of association, the Company’s scope of
dalam bidang industri suku cadang dan aksesoris       activities includes industry of spare parts and
kendaraan bermotor roda empat atau lebih              accessories for four-wheeled or more motor
dengan produk pegas / spring dan stabilizer bar       vehicle, producing springs and stabilizer bars for
kendaraan bermotor, industri komponen dan             motor vehicles, industry of components and
perlengkapan sepeda motor roda dua dan tiga,          equipment for two and three-wheeled
industri lokomotif dan gerbong kereta dengan          motorcycles, industry of locomotive and railway
produk pegas ulir panas, industri barang logam        carriage, producing hot coil springs, industry of
lainnya, industri barang dari kawat. Kegiatan         other metal goods, and industry of wire goods.
usaha penunjang Perseroan adalah perdagangan          The Company's supporting business activities
besar suku cadang dan aksesoris mobil, termasuk       include the wholesale trade of car parts and
kegiatan ekspor dan impor, perdagangan besar          accessories, including export and import
suku cadang dan aksesoris sepeda motor,               activities, the wholesale trade of motorcycle
termasuk kegiatan ekspor dan impor,                   parts and accessories, including export and
perdagangan besar mesin, peralatan dan                import activities, the wholesale trade of
perlengkapan pertanian, termasuk kegiatan             machinery, equipment, and agricultural supplies,
ekspor dan impor serta jasa pengujian                 including export and import activities, as well as
laboratorium.                                         laboratory testing services.
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                                                                                                              3

Kegiatan usaha yang dijalankan Perseroan saat ini               The business activities currently conducted by
adalah industri suku cadang dan aksesoris                       the Company are industry of spare parts and
kendaraan bermotor roda empat atau lebih                        accessories for four-wheeled or more motor
dengan produk pegas / spring dan stabilizer bar                 vehicle, producing springs and stabilizer bars for
kendaraan bermotor.                                             motor vehicles.

Perusahaan berlokasi di Jalan Mayjend Sungkono                  The Company is located in No. 10 Mayjend
No. 10, Segoromadu, Gresik, Jawa Timur.                         Sungkono Street, Segoromadu, Gresik, East Java.
Perusahaan mulai operasi komersial pada bulan                   The Company commenced its commercial
Januari 1979.                                                   activities in January 1979.
Entitas induk Perusahaan adalah PT Indoprima                    The Company’s parent company is PT Indoprima
Gemilang dengan kepemilikan sebesar 88,11%,                     Gemilang with direct ownership amounted to
sedangkan entitas induk akhir Perusahaan adalah                 88.11%, while the Company’s ultimate parent
PT Indoprima Investama dengan kepemilikan                       company is PT Indoprima Investama, with direct
langsung dan tidak langsung sebesar 88,41%.                     and indirect ownership amounted to 88.41%.

Susunan Permodalan dan Susunan Pemegang                         Capital Structure          and       Shareholding
Saham                                                           Composition

Struktur permodalan Perseroan per tanggal                       The capital structure of the Company as of
31 Maret 2024 adalah sebagai berikut:                           31 March 2024 is as follows:

                                                         Nilai Nominal per
        Informasi /                  Jumlah Saham /                             Jumlah Nilai Nominal (Rp) /
                                                       Saham (Rp) / Nominal
       Information                  Number of Shares   Value per Share (IDR)     Total Nominal Value (IDR)

 Modal Dasar / Authorized Capital      900.000.000                                      900.000.000.000
                                                                 1.000
 Modal Ditempatkan dan Disetor /
                                      656.249.710                                       656.249.710.000
  Issued and Paid-up Capital


 Susunan      Pemegang       Saham       Perseroan               The Shareholders composition of the
 berdasarkan catatan yang dibuat oleh PT                         Company based on the registry of PT Adimitra
 Adimitra Jasa Korpora, biro adminisrasi efek pada               Jasa Korpora, securities administraion bureau
 tanggal 31 Maret 2024 adalah sebagai berikut:                   as of 31 March 2024 is as follows:

                                                                    Jumlah Saham /
              Pemegang Saham / Shareholder                                                          %
                                                                   Number of Shares
   PT. Indoprima Gemilang                                            578.210.207                   88,11
   Wiranto Nurhadi (Direktur Utama)                                       2.683.332                 0,41
   Lioe Cu Ling (Wakil Direktur Utama)                                      16.450                  0,00
   Bob Budiono (Direktur)                                                        2                  0,00
   Masyarakat lainnya (masing-masing di bawah 5%) /                      75.339.719                11,48
    Other public (each less than 5%)
                            Total                                    656.249.710                 100,00
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                                                                                                           4



Susunan Direksi      dan    Dewan    Komisaris              Composition of the Board of Directors and
Perseroan                                                   the Board of Commissioners of the Company

Susunan Dewan Direksi dan Dewan Komisaris                   The composition of the Company's Board of
Perseroan berdasarkan Akta no 46 tanggal 29                 Directors and Commissioners base on Deed
Juni 2022, dibuat dihadapan Notaris Siti Nurul              No. 46 dated 29 June 2022, made before
Yuliami S.H., M.KN., Notaris di Surabaya dan                Notary Siti Nurul Yuliami S.H., M.KN., a Notary
telah    memperoleh        surat    penerimaan              in Surabaya and has obtained a notification
pemberitahuan dari Menteri Hukum dan Hak                    acceptance letter from the Minister of Law
Asasi Manusia No. AHU-AH.01.09-0037878                      and Human Rights No. AHU-AH.01.09-
tanggal 28 Juli 2022, adalah sebagai berikut:               0037878 dated 28 July 2022 is as follows:

                                         Direksi / Board of Directors

          Presiden Direktur / President Director                 : Wiranto Nurhadi
          Wakil Direktur Utama / Vice President Director         : Lioe Cu Ling
          Direktur / Director                                    : Bob Budiono
          Direktur / Director                                    : Teddy Limyanto
          Direktur / Director                                    : Andriyas
                                  Dewan Komisaris / Board of Commissioners

      Presiden Komisaris / President Commissioner                : Widjijono Nurhadi
      Komisaris Independen / Independent Commissioner            : I Gusti Putu Suryawirawan
      Komisaris Independen / Independent Commissioner            : H Jan Burhanudin




              II. URAIAN SINGKAT MENGENAI RENCANA PENAMBAHAN KEGIATAN USAHA /
                      BRIEF DESCRIPTION ON ADDITIONAL BUSINESS ACTIVITIES PLAN


  Perseroan bermaksud untuk melakukan                       The Company intends to carry out the
  Penambahan      Kegiatan   Usaha,      yaitu              Additional Business Activities, i.e. to
  menambah kegiatan usahanya saat ini                       supplement its current business activities with
  dengan kegiatan usaha sebagai berikut:                    the following business activities:

    No.     KBLI         Kegiatan Usaha                         No.     KBLI          Business Activity
     1      25952 Industri paku, mur dan baut                    1      25952    The nail, nut, and bolt
                                                                                 industry

  Penambahan Kegiatan Usaha tersebut di                     The above Additional Business Activities will
  atas akan menjadi tambahan kegiatan usaha                 become additional main business activities of
  utama Perseroan yang tercantum dalam                      the Company as started in the existing Articles
  Anggaran Dasar Perseroan saat ini.                        of Association of the Company.
  Berdasarkan Undang-Undang No. 40 tahun                    Based on Law No. 40 of 2007 on Limited
  2007     tentang    Perseroan      Terbatas               Liability Company as amended, the Company is
  sebagaimana diubah, Perseroan wajib                       required to amend its Articles of Association to
  mengubah Anggaran Dasarnya untuk                          include the Additional Business Activities,
  memuat Penambahan Kegiatan Usaha,                         specifically to amend article 3 of the Articles of
  khususnya mengubah pasal 3 Anggaran                       Association on the purpose and objective of the
  Dasar tentang maksud dan tujuan Perseroan.                Company.
Page 6
                                                                                        5

Berdasarkan Undang-Undang tersebut dan        Based on such Law and POJK 17/2020, the
POJK 17/2020, perubahan Anggaran Dasar        amendment of the Articles of Association
perlu memperoleh persetujuan Rapat Umum       requires the approval of the General Meeting of
Pemegang Saham. Setelah diperolehnya          Shareholders. After obtaining approval from the
persetujuan Rapat Umum Pemegang Saham         General Meeting of Shareholders and permits
dan izin atau persyaratan lain yang           or other necessary requirements, additional
diperlukan, maka kegiatan usaha tambahan      business activities can be carried out.
dapat dijalankan.

Tidak terdapat ketentuan, persetujuan,        There is no requirment, approval, permit or
perizinan atau pemberitahuan yang harus       notification that must be fulfilled, obtained or
dipenuhi,    diperoleh    atau   dilakukan    carried out by the Company from the
Perseroan dari Pemerintah/ institusi lain/    government/ other institution/ third party prior
pihak     ketiga     sebelum     Perseroan    to obtaining approval of the 2024 EGMS on the
mendapatkan persetujuan dari RUPSLB 2024      proposed additional business activities and
atas rencana penambahan kegiatan usaha        amendement of the Articles of Association of
dan perubahan Anggaran Dasar Perseroan.       the Company. After obtaining approval of the
Apabila Perseroan telah mendapatkan           2024 EGMS on such proposal, then the
persetujuan dari RUPSLB 2024 terkait          Company will take the necessary actions to (i)
rencana tersebut , maka selanjutnya           obtain approval on the amendement of the
Perseroan akan melakukan tindakan-            Articles of Association of the Company from the
tindakan yang diperlukan untuk (i)            Minister of Law and Human Rights, (ii) perform
mendapatkan      persetujuan    perubahan     data update related to Business Identification
Anggaran Dasar Perseroan dari Menteri         Number of the Company in the Online Single
Hukum dan Hak Asasi Manusia, (ii)             Submission system by adding relevant KBLI and
melakukan pengkinian data atas Nomor          (iii) comply with applicable requirements to
Induk Berusaha Perseroan dalam sistem         effect the KBLI which will be carried out by the
Online Single Submission dengan melakukan     Company.
penambahan KBLI dan (iii) memenuhi
ketentuan -ketentuan yang ditetapkan untuk
mengefektifkan KBLI yang akan dijalankan
oleh Perseroan.

Persetujuan atas perubahan Anggaran Dasar     Approval on the amendment of the Articles of
sehubungan dengan Penambahan Kegiatan         Association with regards to the Additional
Usaha akan dimintakan dalam RUPSLB 2024       Business Activities will be sought at the 2024
Perseroan,    yang     rencananya      akan   EGMS of the Company, which is planned to be
diselenggarakan pada tanggal 12 Juni 2024.    held on 12 June 2024.
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                                                                                                 6


     III. PENJELASAN, PERTIMBANGAN DAN ALASAN DILAKUKANNYA PENAMBAHAN KEGIATAN USAHA /
           EXPLANATION, CONSIDERATIONS AND REASONS FOR THE ADDITIONAL BUSINESS ACTIVITIES


Perseroan saat ini bergerak di bidang                The company currently operates in the
komponen kendaraan bermotor berencana                automotive component sector and plans to
untuk mengembangkan kegiatan usaha di                expand its business activities into the bolt
industri baut. Sejalan dengan kebijakan              industry. In line with the Indonesian
Pemerintah Indonesia yang mendorong                  Government's policy to promote the creation of
penciptaan lapangan kerja baru dan                   new employment opportunities, the company
Perseroan melihat kebutuhan baut untuk               observes a high demand for bolts for motor
komponen kendaraan bermotor yang tinggi              vehicle components that is not fully met by
namun belum sepenuhnya dapat dipenuhi                existing domestic industries, thus still relying on
oleh industri yang ada di dalam negeri               imports.
sehingga masih harus dipenuhi melalui
impor.
Dimana produk baut (center bolt dan U bolt)          Where the bolts (center bolt dan U bolt) to be
yang akan dibuat merupakan komponen                  produced will serve as supporting components
penunjang dari produk spring yang                    for the springs produced by the company when
dihasilkan oleh Perseroan pada saat dirakit /        assembled into motor vehicles. This is in line
dipasang di kendaraan bermotor. Hal ini              with the company's existing business, and the
sejalan dengan bisnis Perseroan yang ada             company has a strong sales distribution
saat ini dan Perseroan memiliki jaringan             network in the aftermarket market. Therefore,
distribusi penjualan yang baik di pasar after        this business is expected to support the
market sehingga bisnis ini diharapkan dapat          company's financial performance. . As such,
mendukung kinerja keuangan Perseroan.                pursuant to the applicable regulations, the
Sehubungan dengan hal tersebut, sesuai               Company is required to undertake the
dengan ketentuan yang berlaku, Perseroan             additional business activities as described in the
perlu melakukan penambahan kegiatan                  brief description of the additional business
usaha sebagaimana dijelaskan pada bagian             activities section above
uraian singkat mengenai penambahan
kegiatan usaha di atas.
Produk baut (center bolt dan U bolt ) yang           The bolt products (center bolt and U bolt) that
akan dibuat termasuk dalam Industri paku,            will be manufactured are included in the nail,
mur dan baut (KBLI 25952). Perseroan saat            nut, and bolt industry (KBLI 25952). The
ini berfokus pada produk baut yaitu center           Company is currently focusing on bolt products,
bolt dan U bolt termasuk mur sebagai satu            namely center bolts and U bolts, including nuts
kesatuan dalam produk yang akan                      as an integral part of the products to be
dihasilkan, karena sesuai dengan bisnis              produced, in line with the Company's current
Perseroan yang ada saat ini di bidang                business in the automotive sector. The
otomotif. Perseroan saat ini belum memiliki          Company currently has no plans to enter the
rencana untuk masuk dalam lini bisnis paku,          nail business, as it is not related to the business
karena tidak memiliki keterkaitan dengan             it is currently engaged in.
bisnis yang dijalankan saat ini.
Page 8
                                                                                                7

                  IV. RINGKASAN STUDI KELAYAKAN PENAMBAHAN KEGIATAN USAHA /
              SUMMARY OF FEASIBILITY STUDY FOR ADDITIONAL BUSINESS ACTIVITIES

Perseroan telah menunjuk Kantor Jasa Penilai           The Company has appointed a Public
Publik Ru ky Sa fr u d in dan Rekan (“KJPP RSR”),      Appraisal Services Office of Ruky Safrudin and
sebagai penilai independen untuk melakukan             Rekan (“KJPP RSR”), as an independent
studi kelayakan atas rencana Penambahan                appraiser to conduct a feasibility study on the
Kegiatan Usaha Perseroan.                              proposed Additional Business Activities of the
                                                       Company.
Penilai KJPP RSR yang bertanggung jawab atas           The appraiser of KJPP RSR that is responsible
studi kelayakan tersebut adalah Bapak Yunus N.         over such feasibility study is Mr. Yunus N.
Purwono, MAPPI (Cert).                                 Purwono, MAPPI (Cert).

Berikut ini adalah ringkasan laporan studi             The following is a summary of KJPP RSR's
kelayakan dari KJPP RSR melalui laporan                feasibility study report No. 00049/2.0095-
No.       00049/2.0095-00/BS/04/0273/1/V/2024          00/BS/04/0273/1/V/2024      dated 27 May
tanggal 27 Mei 2024 (“Laporan Studi Kelayakan”).       2024 (“Feasibility Study Report”).
  A. Maksud dan Tujuan                                  A. Purpose and Objectives
     Maksud dari Studi Kelayakan Bisnis ini                The purpose of this Business Feasibility
     adalah untuk memberikan laporan studi                 Study is to provide a feasibility study
     kelayakan penambahan kegiatan usaha yang              report on additional business activities
     selanjutnya akan digunakan Perseroan                  which will then be used by the Company
     untuk memenuhi ketentuan dari POJK                    to comply with the provisions of POJK
     17/2020.                                              17/2020.
                                                           The aim of the assignment is to provide
     Tujuan      penugasan       adalah      untuk         an overview of the feasibility of
     memberikan gambaran mengenai kelayakan                additional business activities in terms of
     penambahan kegiatan usaha ditinjau dari               various analyses, including market
     berbagai analisis, meliputi analisis pasar,           analysis, technical analysis, business
     analisis teknis, analisis pola bisnis, analisis       pattern analysis, management model
     model manajemen dan analisis keuangan                 analysis and financial analysis.

 B. Tanggal Batas Pisah (Cut Off) Studi                 B. Cut Off Date of The Feasibility Study
    Kelayakan
                                                            The cut off date of the feasibility study
     Tanggal batas pisah studi kelayakan adalah             is 31 December 2023, with the
     tanggal 31 Desember 2023 dengan                        parameters and financial statements
     parameter dan laporan keuangan yang                    used in the analysis based on data as of
     digunakan dalam analisis didasarkan pada               31 December 2023.
     data per tanggal 31 Desember 2023.
 C. Asumsi dan Kondisi Pembatas                         C. Assumption and Limiting Conditions
    KJPP RSR dalam mempersiapkan studi                     KJPP RSR, in preparing t he feasibility
    kelayakan menggunakan asumsi-asumsi dan                study, used the following assumptions
    kondisi pembatas sebagai berikut:                      and limiting conditions:
Page 9
                                                                                            8

   a)   Laporan      studi  kelayakan  rencana      a) The feasibility study report of the
        Penambahan Kegiatan Usaha bersifat non-        Additional Business Activities plan is a
        disclaimer opinion.                            non-disclaimer opinion.

   b)   KJPP RSR telah melakukan penelaahan atas    b) KJPP RSR has reviewed the documents
        dokumen-dokumen yang digunakan dalam           used in the feasibility study process.
        proses studi kelayakan.

   c)   Data dan informasi yang diperoleh baik      c) Data and information obtained either
        dari manajemen Perseroan maupun dari           from the Company's management or
        sumber lain yang dapat dipercaya               from other sources whose accuracy
        keakuratannya.                                 can be trusted.

   d)   KJPP RSR menggunakan proyeksi keuangan      d) KJPP RSR uses financial projections
        yang dibuat oleh Perseroan yang telah          made by the Company which have
        disesuaikan,    yang      mencerminkan         been adjusted, which reflect the
        kewajaran proyeksi keuangan.                   fairness of the financial projections.

   e)   KJPP RSR bertanggung jawab atas             e) KJPP RSR is responsible for carrying
        pelaksanaan studi kelayakan, proyeksi          out the feasibility study, the adjusted
        keuangan yang disesuaikan tersebut wajar,      financial projections are reasonable,
        namun KJPP RSR tidak bertanggung jawab         but KJPP RSR is not responsible for its
        atas pencapaiannya.                            achievement.

   f)   Laporan studi kelayakan merupakan           f)   The feasibility study report is a report
        laporan yang terbuka untuk publik, namun         that is open to the public, however,
        demikian publikasi atas sebagian atau            publication of part or all of the report
        keseluruhan      dari    laporan    harus        must obtain approval from the
        mendapatkan          persetujuan     dari        Company's management and RSR,
        manajemen Perseroan dan RSR, mengingat           considering the possibility that there is
        kemungkinan adanya informasi yang                information that is confidential and
        bersifat rahasia dan dapat mempengaruhi          could affect competition and the
        kompetisi dan operasional Perseroan.             Company's operations.

   g)   KJPP RSR bertanggung jawab atas opini       g) KJPP RSR is responsible for the
        yang dihasilkan dalam Laporan Studi            opinions produced in the Business
        Kelayakan Bisnis.                              Feasibility Study Report.

D. Metode dan Prosedur         Penyusunan           D. Methodology and Procedures for
   Laporan Studi Kelayakan                             Preparing the Feasibility Study Report

   Metode dan prosedur yang diterapkan dalam         The methods and procedures applied in
   penyusunan laporan studi kelayakan adalah:        preparing the feasibility study report are:
   a) analisis kelayakan pasar                        a. market feasibility analysis
   b) analisis kelayakan teknis                       b. technical feasibility analysis
   c) analisis kelayakan pola bisnis                  c. business pattern feasibility analysis
   d) analisis kelayakan model manajemen              d. management          model      feasibility
   e) analisis kelayakan keuangan                          analysis
                                                      e. financial feasibility analysis

 Berikut adalah ringkasan atas laporan studi        The following is the summary of the
 kelayakan:                                         feasibility report:
Page 10
                                                                                             9


a) Analisis Kelayakan Pasar                          a)   Market Feasibility Analysis
   Dengan memperhatikan potensi pasar dan                 By taking into account the market
   kondisi perekonomian Indonesia yang sedang             potential and Indonesia's growing
   tumbuh,      maka    rencana   Penambahan              economic condition, the proposed
   Kegiatan Usaha secara pasar layak untuk                Additional Business Activities is feasible
   dilaksanakan.                                          to be implemented from market's
                                                          perspective.

b) Analisis Kelayakan Teknis                         b)   Technical Feasibility Analysis
   Dengan      memperhatikan fasilitas yang               By taking into account the facilities
   disediakan     Perseroan, maka     rencana             provided by the Company, the
   Penambahan Kegiatan Usaha secara teknis                proposed        Additional       Business
   layak untuk dilaksanakan.                              Activities is technically feasible to be
                                                          implemented.

c)   Analisis Kelayakan Pola Bisnis                  c)   Business Pattern Feasibility Analysis By
     Dengan memperhatikan pola bisnis yang                taking into account the business
     akan diterapkan       oleh Perseroan dalam           pattern that will be applied by the
     rencana Penambahan Kegiatan Usaha, maka              Company in the proposed Additional
     rencana Penambahan Kegiatan Usaha secara             Business Activities, the proposed
     pola bisnis layak untuk dilaksanakan.                Additional Business Activities       is
                                                          feasible to be implemented from
                                                          business pattern's perspective.

d) Analisis Kelayakan Model Manajemen                d)   Management        Model    Feasibility
                                                          Analysis
     Struktur organisasi Perseroan saat ini telah         The Company's current organizational
     mendukung operasional kerja Perseroan                structure has supported the work
     dalam             rencana       Penambahan           operations of the Company in the
     Kegiatan Usaha dan rencana Penambahan                proposed        Additional     Business
     Kegiatan Usaha secara pola bisnis layak untuk        Activities, and the proposed Additional
     dilaksanakan.                                        Business Activities is feasible to be
                                                          implemented from business pattern's
                                                          perspective.

e) Analisis Kelayakan Keuangan                       e)   Financial Feasibility Analysis
   Pendekatan       yang     digunakan     dalam          The approach used in analyzing the
   menganalisa kelayakan keuangan rencana                 financial feasibility of the Additional
   Penambahan        Kegiatan    Usaha    adalah          Business Activities plan is an income-
   pendekatan pendapatan           (income-based          based approach using the discounted
   approach) dengan menggunakan metode                    cash flow (DCF) method, which refers
   diskonto arus kas (discounted cash flow /              to net present value (NPV), internal
   DCF) method, yang          mengacu pada net            rate of return (IRR), payback period
   present value (NPV), internal rate of                  and where the Additional Business
   return (IRR), payback period dan Profitability         Activities plan is said to be feasible or
   Index dimana rencana Penambahan Kegiatan               profitable if:
   Usaha dikatakan layak atau menguntungkan
   apabila:
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                                                                                                      10


      - NPV positif                                                  - The NPV is positive
      - IRR lebih besar dari tingkat diskonto                        - The IRR is greater than the
        (tingkat diskonto yang digunakan                               discount rate (the discount rate is
        10,86%)                                                        10.86%)
      - Payback period lebih cepat dari                              - The payback period is faster than
        masa proyeksi (masa proyeksi yang                              the projection period (projection
        digunakan 10 tahun)                                            period is 10 years)
      - Profitability Index                                          - The Profitability Index

            Kriteria Investasi / Investment Criteria                Hasil / Result
            NPV                                        Rp 240,85 miliar / IDR 240.85 billion
            IRR                                        41,07% / 41.07%
            Payback Period                             5 Tahun / 5 years
            Profitability index                        4,74 / 4.74

Perseroan memiliki kapasitas serta kemampuan               The Company has sufficient capacity and
yag cukup untuk melaksanakan Rencana                       capability to execute the Company's Plan. The
Perseroan. Rencana Perseroan dengan nilai                  Company's Plan, with an investment value of
investasi Rp 71,42 miliar merupakan rencana                IDR 71.42 billion, is feasible for the Company
yang bisa dilakukan oleh Perseroan, dilihat                to undertake, as evaluated by four methods:
dengan empat metode yaitu NPV sebesar Rp                   an NPV of IDR 240.85 billion, a PBP of 5 Years,
240,85 miliar, PBP selama 5 Tahun dengan IRR               an IRR of 41.07% which is greater than the
sebesar 41,07% yang lebih besar dari WACC                  WACC of 10.86%, and a PI of 4.74 which is
sebesar 10,86% dan PI sebesar 4,74 lebih besar             greater than one.
dari satu.

E. Kesimpulan                                                 E. Conclusion
   Berdasarkan analisis studi kelayakan atas                     Based on the feasibility study conducted
   rencana Penambahan Kegiatan Usaha                             by KJPP RSR on the proposed Additional
   Perseroan yang KJPP RSR lakukan, KJPP                         Business Activities of the Company, KJPP
   RSR berpendapat         bahwa rencana                         RSR is of the opinion that the proposed
   Penambahan Kegiatan Usaha adalah                              Additional Business Activities plan is
   layak.                                                        feasible.


  V. KETERSEDIAAN TENAGA AHLI SEHUBUNGAN DENGAN RENCANA PENAMBAHAN KEGIATAN USAHA
  /AVAILABILITY OF EXPERTS IN CONNECTION WITH THE ADDITIONAL BUSINESS ACTIVITIES PLAN



Sehubungan dengan rencana Penambahan                       In connection with the Additional Business
Kegiatan Usaha, saat ini Perseroan telah                   Activities plan, the Company has prepared the
mempersiapkan tenaga ahli yang dapat                       experts who can support the Additional
mendukung Penambahan Kegiatan Usaha,                       Business Activities, whereby these experts
dimana tenaga ahli tersebut berasal dari tenaga            come from experts who have worked for the
ahli yang telah bekerja pada Perseroan,                    Company, so no costs will be incurred by the
sehingga tidak terdapat biaya yang akan                    Company in recruiting the experts.
dikeluarkan oleh Perseroan dalam perekrutan
tenaga ahli.

Tenaga ahli berasal dari internal Perseroan yang           The experts come from within the Company,
berjumlah 2 orang yang memiliki kemampuan                  consisting of 2 individuals who have expertise in
dalam bidang produksi, engineering dan test                production, engineering, and laboratory testing.
laboratorium. Dan untuk memperlengkapi                     To enhance the capabilities of its experts, the
Page 12
                                                                                                     11

    kemampuan dari tenaga ahli yang dimiliki maka        Company has entered into a cooperation
    Perseroan telah mengadakan perjanjian kerja          agreement with Fujian Huagai Machinery
    sama dengan Fujian Huagai Machinery                  Manufacture Co., Ltd (Huagai) from China to
    Manufacture Co., Ltd (Huagai) dari China untuk       build a bolt factory and provide training and
    membangun pabrik baut serta memberikan               knowledge sharing to the Company's
    pelatihan dan sharing knowledge kepada               employees.
    karyawan Perseroan.

   Tenaga Kerja /  Jumlah/
                             Kompetensi / Competence               Keterangan / Description
     Workforce     number
Manager Produksi      1    Mengkoordinasi         proses Tenaga ahli Perseroan akan mendapatkan
/       Production orang/ produksi dan tenaga kerja training dan sharing knowledge melalui
Manager (Removal      1    untuk menghasilkan produk tenaga ahli di China yang telah memiliki
& Instalation)      person baut yang memenuhi standar pengalaman dalam proses produksi baut
                           kebutuhan industri otomotif.  berdasarkan perjanjian technical assistance
                           Coordinate the production antara Perseroan dengan Huagai.
                               process and workforce to       The Company's experts will receive
                               produce bolts that meet the    training and knowledge sharing from
                               standards       of      the    experts in China who have experience in
                               automotive industry.           bolt production processes based on the
                                                              technical assistance agreement between
                                                              the Company and Huagai.
Engineering & test      1      Kemampuan design (drawing) Tenaga ahli Perseroan akan mendapatkan
laboratorium      /   orang/   produk      dan    pengujian training dan sharing knowledge melalui
Engineering      &      1      laboratorium.                tenaga ahli di China yang telah memiliki
Laboratory Testing    person   Product design (drawing) pengalaman dalam proses produksi baut
                               capabilities and laboratory berdasarkan perjanjian technical assistance
                               testing.                     antara Perseroan dengan Huagai.
                                                              The Company's experts will receive
                                                              training and knowledge sharing from
                                                              experts in China who have experience in
                                                              bolt production processes based on the
                                                              technical assistance agreement between
                                                              the Company and Huagai.



  VI. PENJELASAN TENTANG PENGARUH PENAMBAHAN KEGIATAN USAHA PADA KONDISI KEUANGAN
         PERSEROAN / EXPLANATION ON THE IMPACTE OF THE ADDITIONAL BUSINESS ACTIVITIES
                         ON THE FINANCIAL CONDITION OF THE COMPANY

  Dengan dijalankannya rencana Penambahan                    With the implementation of the Additional
  Kegiatan Usaha, laba usaha Perseroan                       Business Activities plan, the operating profit
  diperkirakan mengalami peningkatan antara                  of the Company is estimated to increase
  10,61% sampai dengan 13,78% dan laba bersih                between 10.61% to 13.78% and the
  Perseroan diperkirakan mengalami peningkatan               Company's net profit is estimated to increase
  antara 10,38% sampai dengan 13,75% karena                  between 10.38% to 13,75% due to additional
  adanya pendapatan tambahan dari rencana                    income from the Additional Business
  Penambahan Kegiatan Usaha.                                 Activities plan.
Page 13
                                                                                             12


A. Analisis terkait dampak penambahan              A. Analysis on the impact of the additional
   kegiatan usaha dengan mengacu pada pos-            business activities with reference to the
   pos laporan keuangan yang diproyeksikan            financial statement items that are
   mengalami peningkatan serta asumsi dan             projected to increase, as well as the
   dasar penyusunan proyeksi tersebut                 assumptions and basis for preparing the
                                                      projections
  Dengan adanya penambahan kegiatan usaha,           With the additional business activities,
  pos laporan keuangan yang terdampak dari           the affected financial statement items
  penambahan kegiatan usaha , antara lain :          include:
  Penjualan                                          Sales
  Penjualan Perseroan sesudah dilakukannya           The Company's sales after the addition of
  penambahan kegiatan usaha diperkirakan             business activities are estimated to
  mengalami peningkatan sebesar 3,74%-4,17%          increase by 3.74%-4.17% or by IDR 166
  atau meningkat sebesar Rp 166 miliar sampai        billion to IDR 198 billion (projected 2025-
  dengan Rp 198 miliar (proyeksi 2025-2028)          2028), generated from bolt sales.
  yang dihasilkan oleh penjualan baut.

                                                     Net Income
  Laba bersih                                        The Company's net profit after the addition
  Laba bersih Perseroan sesudah penambahan           of business activities is estimated to
  dilakukannya penambahan kegiatan usaha             increase by 10.38% - 13.75% or by IDR 23
  diperkirakan mengalami peningkatan sebesar         billion to IDR 27 billion (projected 2025-
  10,38%-13,75% atau meningkat sebesar Rp 23         2028), generated from bolt sales.
  miliar sampai dengan Rp 27 miliar (proyeksi
  2025-2028) yang dihasilkan oleh penjualan
  baut.

  Aset                                               Assets
                                                     The Company's assets after the addition of
  Aset Perseroan sesudah dilakukannya
                                                     business activities are estimated to
  penambahan kegiatan usaha diperkirakan
                                                     increase by 0.27% - 2.43% or by IDR 12
  mengalami peningkatan sebesar 0,27% -
                                                     billion to IDR 118 billion (projected 2024-
  2,43% atau meningkat sebesar Rp 12 miliar
                                                     2028). This is due to the increase in
  sampai dengan Rp 118 miliar (proyeksi 2024-
                                                     accounts receivable and inventory, as well
  2028) hal ini disebabkan oleh penambahan
                                                     as an investment in fixed assets amounting
  piutang usaha dan persediaan serta investasi
                                                     to IDR 40 billion in 2024.
  aset tetap senilai Rp 40 miliar di tahun 2024.
Page 14
                                                                                                              13

     B. Analisis dampak penambahan kegiatan                              B. Analysis on the impact of the
        usaha pada laporan keuangan dan rasio                               additional business activities on the
        keuangan Perseroan                                                  Company's Financial Statements and
                                                                            Financial Ratios


     Proyeksi Laporan Keuangan sebelum penambahan kegiatan usaha / Financial Statement Projections
     Before Additional Business Activity :

                                      2024        2025        2026         2027        2028
ASET                                                                                                                  ASSETS
ASET LANCAR                                                                                                CURRENT ASSETS
Ka s da n s eta ra ka s               245,034     191,130     288,136      407,620     564,639    Cash and cash equivalents
Pi uta ng us a ha                                                                                         Trade receivables
  Pi ha k keti ga                     504,191     554,612     610,073      671,081     738,188                  Third parties
  Pi ha k berel a s i                  52,989      58,288      64,117       70,529      77,582               Related parties
Pi uta ng non-us a ha                                                                                Non-trade receivables
  Pi ha k keti ga                        3,907       3,907       3,907        3,907       3,907                 Third parties
  Pi ha k berel a s i                    4,415       4,415       4,415        4,415       4,415              Related parties
Pers edi a a n                         830,777     950,022   1,009,280    1,092,015   1,182,527                  Inventories
Pa ja k di ba ya r di muka              36,306      36,306      36,306       36,306      36,306                Prepaid taxes
Ua ng muka pembel i a n                 16,526      16,526      16,526       16,526      16,526      Advance for purchases
Beba n di ba ya r di muka                1,531       1,531       1,531        1,531       1,531            Prepaid expenses
Tota l As et La nca r                1,695,676   1,816,737   2,034,292    2,303,930   2,625,621         Total Current Assets

Ta ks i ra n kl a i m
pengemba l i a n                                                                                       Estimated claim for
    pa ja k pengha s i l a n           30,623      30,623      30,623       30,623      30,623            income tax refund
                                                                                                          Property, plant and
As et teta p
                                     2,459,835   2,376,740   2,289,439    2,197,392   2,099,744                  equipments
Properti i nves ta s i                 107,008     106,846     106,685      106,523     106,362          Invesment property
As et pa ja k ta ngguha n                6,407       6,407       6,407        6,407       6,407           Defered tax assets
As et ti da k l a nca r l a i nnya      45,599       2,019       2,019        2,019       2,019    Other non-current assets
Tota l As et Ti da k La nca r        2,649,473   2,522,635   2,435,173    2,342,964   2,245,155    Total Non-Current Assets

TOTAL ASET                           4,345,148   4,339,372   4,469,465    4,646,894   4,870,776               TOTAL ASSETS
Page 15
                                                                                                                       14

                                                                                                 dalam juta rupiah/ in million rupiah
                                      2024        2025        2026        2027        2028
LIABILITAS DAN EKUITAS                                                                                        LIABILITIES AND EQUITY
LIABILITAS JANGKA PENDEK                                                                                         CURRENT LIABILITIES
Pinjaman jangka pendek                                                                                               Short term loans
 Bank                                 150,000            -           -           -           -                                   Bank
Utang usaha                                                                                                             Trade Payable
 Pihak ketiga                         200,443     241,066     267,575     294,680     326,074                            Third parties
 Pihak berelasi                        38,107      60,334      50,375      52,080      52,076                          Related parties
Liabilitas keuangan lancar lainnya                                                                  Other current financial liabilities
 Pihak ketiga                           4,623       4,623       4,623       4,623       4,623                            Third parties
Utang pajak                            12,305      12,305      12,305      12,305      12,305                          Taxes payables
Uang muka pelanggan                     5,492       5,492       5,492       5,492       5,492               Advance from customers
Utang dividen                             913         913         913         913         913                      Dividend payables
Beban masih harus dibayar              28,806      28,806      28,806      28,806      28,806                       Accrued expenses
Liabilitas jangka pendek lainnya                                                                             Other current liabilities
  Pihak berelasi                        1,871       1,871       1,871       1,871       1,871                          Related parties
Liabilitas jangka panjang yang                                                                                    Current maturities
  akan jatuh tempo dalam                                                                                            of long-term debt
  waktu satu tahun
  Liabilitas sewa                       2,952       2,423         411           -           -                        Lease liabilities
  Pinjaman bank                        27,000      27,000      24,750           -           -                              Bank loan
Total Liabilitas Jangka Pendek        472,512     384,833     397,121     400,771     432,161                Total Current Liabilities

LIABILITAS JANGKA PANJANG                                                                                  NON-CURRENT LIABILITIES
Liabilitas jangka panjang,                                                                                   Long-term debt, net of
  setelah dikurangi bagian yang                                                                                 current maturities
  akan jatuh tempo dalam
  waktu satu tahun
  Liabilitas sewa                       2,834         411           -           -           -                          Lease liabilities
  Pinjaman bank                        51,750      24,750           -           -           -                               Bank loan
Liabilitas pajak tangguhan            166,439     157,432     147,924     137,916     127,408                    Defered tax liabilities
Liabilitas imbalan kerja               47,978      51,844      56,047      60,670      65,806        Liabilities for employee benefits
Total Liabilitas Jangka Panjang       269,001     234,437     203,971     198,586     193,214           Total Non-Current Liabilities

Total Liabilitas                      741,513     619,270     601,092     599,357     625,375                         Total Liabilities

EKUITAS                                                                                                                         EQUITY
Modal saham- nilai nominal                                                                                   Share capital- par value
 Rp 1.000 per saham                                                                                                Rp 1,000 per share
Modal dasar 900.000.000 saham                                                                        Authorized 900,000,000 shares
Modal ditempatkan dan disetor                                                                                    Issued and fully paid
 penuh - 656.249.710 saham            656,250     656,250     656,250     656,250     656,250                     656,249,710 shares
Tambahan modal disetor                 24,965      24,965      24,965      24,965      24,965              Additional paid-in capital
Selisih nilai transaksi dengan                                                                     Difference in value of transaction
  entitas sepengendali                 19,189      19,189      19,189      19,189      19,189              of under common control
Selisih penilaian kembali aset                                                                      Revaluation surplus of property,
  tetap                              1,518,994   1,518,994   1,518,994   1,518,994   1,518,994                  plant and equipment
Selisih kurs penjabaran                  4,567       4,567       4,567       4,567       4,567         Foreign currencies translation
                                                                                                                            differences
Saldo laba                                                                                                          Retained earnings
Telah ditentukan penggunaannya          28,500      29,500      30,500      31,500      32,500                          Appropriated
Belum ditentukan penggunaannya       1,202,323   1,309,409   1,447,460   1,615,482   1,801,191                        unappropriated
Total ekuitas yang dapat                                                                                                  Total Equity
diatribusikan kepada                                                                                          attributable to owners
pemilik entitas induk                3,454,788   3,562,873   3,701,925   3,870,947   4,057,656                       parent company
Kepentingan non-pengendali             148,847     157,228     166,448     176,590     187,746               Non-controlling interest
Total Ekuitas                        3,603,635   3,720,102   3,868,373   4,047,537   4,245,401                            Total Equity

TOTAL LIABILITAS DAN EKUITAS         4,345,148   4,339,372   4,469,465   4,646,894   4,870,776         TOTAL LIABILITIES AND EQUITY
Page 16
                                                                                                                 15

                                                                                              dalam juta rupiah/ in million rupiah
                              2024           2025           2026           2027           2028
Penjualan neto               3,619,837      3,981,821      4,380,003      4,818,003      5,299,803                        Net sales
Beban pokok penjualan        (3,044,315)    (3,353,792)    (3,677,318)    (4,033,631)    (4,446,446)            Cost of goods sold
Laba bruto                     575,522        628,028        702,685        784,372        853,358                     Gross profit


Beban penjualan               (194,941)      (216,432)      (240,372)      (267,050)      (296,792)               Selling expenses
Beban umum dan
administrasi                  (165,095)      (186,496)      (202,906)      (221,579)      (242,997) General and administrative
                                                                                                                          expenses
Pendapatan operasi
lainnya                         17,462         18,923         20,530         22,298         24,243       Other operating income
Beban operasi lainnya            (1,473)        (1,620)        (1,780)        (1,960)        (2,160)    Other operating expenses


Laba dari Usaha                231,475        242,403        278,157        316,082        335,652       Income from Operations


Beban keuangan                 (21,396)       (11,108)         (6,086)        (4,404)               -           Finance expenses
Pendapatan keuangan              2,155          2,155          2,155          2,155          2,155               Finance income


Laba sebelum pajak             212,234        233,451        274,226        313,832        337,807               Profit before tax
Beban pajak                    (50,168)       (51,359)       (60,330)       (69,043)       (74,318)                   Tax expenses


Laba neto tahun berjalan       162,066        182,092        213,896        244,789        263,489        Net income for the year


Penghasilan komprehensif                                                                                    Other comprehensive
lainnya                                 -              -              -              -              -                   income
Total laba komprehensif                                                                                     Total comprehensive
tahun                                                                                                                   income
 berjalan                      162,066        182,092        213,896        244,789        263,489                     for the year


Rasio Keuangan                2024           2025           2026           2027           2028                     Financial Ratio
Rasio Profitabilitas (%)                                                                                     Profitability ratio (%)
Rasio laba atas aset              3.73%          4.20%          4.79%          5.27%          5.41%       Return On Assets (ROA)
Rasio laba atas ekuitas           4.50%          4.89%          5.53%          6.05%          6.21%        Return On Equity (ROE)


Rasio Likuiditas (x)                                                                                             Liquidity ratio(x)
Rasio lancar                         3.59           4.72           5.12           5.75           6.08                 Current ratio
Rasio cepat                          1.83           2.25           2.58           3.02           3.34                   Quick ratio


Rasio Solvabilitas (x)                                                                                         Solvency Ratio (x)
Jumlah liabilitas / Jumlah                                                                                  Total liabilitas/ Total
aset                                 0.17           0.14           0.13           0.13           0.13                       assets
Jumlah liabilitas / Jumlah                                                                                  Total liabilitas/ Total
ekuitas                              0.21           0.17           0.16           0.15           0.15                       equity
Page 17
                                                                                                                    16

         Proyeksi Laporan Keuangan setelah penambahan kegiatan usaha / Financial Statement Projections
         After Additional Business Activity :

                                                                                     da l a m juta rupi a h/ i n mi l l i on rupi a h
                                     2024        2025        2026        2027          2028
ASET                                                                                                                         ASSETS
ASET LANCAR                                                                                                    CURRENT ASSETS

Ka s da n s eta ra ka s               208,703     165,662     285,160     429,787       613,127      Cash and cash equivalents
Pi uta ng us a ha                                                                                            Trade receivables
  Pi ha k keti ga                     504,191     582,716     639,875     702,555       771,305                    Third parties
  Pi ha k berel a s i                  52,989      60,937      67,031      73,734        81,107                 Related parties
Pi uta ng non-us a ha                                                                                   Non-trade receivables
  Pi ha k keti ga                        3,907       3,907       3,907       3,907        3,907                    Third parties
  Pi ha k berel a s i                    4,415       4,415       4,415       4,415        4,415                 Related parties
Pers edi a a n                         834,730     961,694   1,019,287   1,102,473    1,193,681                     Inventories
Pa ja k di ba ya r di muka              37,603      36,306      36,306      36,306       36,306                   Prepaid taxes
Ua ng muka pembel i a n                 16,526      16,526      16,526      16,526       16,526         Advance for purchases
Beba n di ba ya r di muka                1,531       1,531       1,531       1,531        1,531               Prepaid expenses
Tota l As et La nca r                1,664,595   1,833,694   2,074,039   2,371,234    2,721,905            Total Current Assets

Ta ks i ra n kl a i m
pengemba l i a n                                                                                           Estimated claim for
    pa ja k pengha s i l a n           30,623      30,623      30,623      30,623         30,623             income tax refund
                                                                                                             Property, plant and
As et teta p                         2,499,835   2,412,559   2,320,715   2,224,123    2,121,932                     equipments
Properti i nves ta s i                 107,008     106,846     106,685     106,523      106,362             Invesment property
As et pa ja k ta ngguha n                9,325       6,407       6,407       6,407        6,407              Defered tax assets
As et ti da k l a nca r l a i nnya      45,599       2,019       2,019       2,019        2,019       Other non-current assets
Tota l As et Ti da k La nca r        2,692,390   2,558,454   2,466,449   2,369,696    2,267,343       Total Non-Current Assets

TOTAL ASET                           4,356,985   4,392,149   4,540,487   4,740,930    4,989,248                     TOTAL ASSETS
Page 18
                                                                                                                        17

                                                                                                 dalam juta rupiah/ in million rupiah
                                      2024        2025        2026        2027        2028
LIABILITAS DAN EKUITAS                                                                                        LIABILITIES AND EQUITY
LIABILITAS JANGKA PENDEK                                                                                         CURRENT LIABILITIES
Pinjaman jangka pendek                                                                                              Short term loans
 Bank                                 150,000            -           -           -           -                                   Bank
Utang usaha                                                                                                            Trade Payable
 Pihak ketiga                         200,337     261,263     283,246     311,156     343,997                            Third parties
 Pihak berelasi                        40,394      57,981      50,820      52,970      52,529                         Related parties

Liabilitas keuangan lancar lainnya                                                                  Other current financial liabilities
 Pihak ketiga                           4,623       4,623       4,623       4,623       4,623                            Third parties
Utang pajak                            12,305      12,305      12,305      12,305      12,305                          Taxes payables
Uang muka pelanggan                     5,492       5,492       5,492       5,492       5,492               Advance from customers
Utang dividen                             913         913         913         913         913                      Dividend payables
Beban masih harus dibayar              28,806      28,806      28,806      28,806      28,806                       Accrued expenses
Liabilitas jangka pendek lainnya                                                                             Other current liabilities
  Pihak berelasi                        1,871       1,871       1,871       1,871       1,871                          Related parties
Liabilitas jangka panjang yang                                                                                    Current maturities
  akan jatuh tempo dalam                                                                                            of long-term debt
  waktu satu tahun
  Liabilitas sewa                       2,952       2,423         411           -           -                        Lease liabilities
  Pinjaman bank                        27,000      27,000      24,750           -           -                              Bank loan
Total Liabilitas Jangka Pendek        474,693     402,678     413,237     418,136     450,537                Total Current Liabilities

LIABILITAS JANGKA PANJANG                                                                                  NON-CURRENT LIABILITIES
Liabilitas jangka panjang,                                                                                   Long-term debt, net of
  setelah dikurangi bagian yang                                                                                 current maturities
  akan jatuh tempo dalam
  waktu satu tahun
  Liabilitas sewa                       2,834         411           -           -           -                          Lease liabilities
  Pinjaman bank                        71,750      40,750      12,000       8,000       4,000                               Bank loan
Liabilitas pajak tangguhan            166,439     161,669     152,931     143,281     132,822                    Defered tax liabilities
Liabilitas imbalan kerja               47,978      51,844      56,047      60,670      65,806        Liabilities for employee benefits
Total Liabilitas Jangka Panjang       289,001     254,674     220,979     211,952     202,627           Total Non-Current Liabilities

Total Liabilitas                      763,694     657,352     634,216     630,088     653,164                         Total Liabilities

EKUITAS                                                                                                                         EQUITY
Modal saham- nilai nominal                                                                                    Share capital- par value
 Rp 1.000 per saham                                                                                                 Rp 1,000 per share
Modal dasar 900.000.000 saham                                                                         Authorized 900,000,000 shares
Modal ditempatkan dan disetor                                                                                     Issued and fully paid
 penuh - 656.249.710 saham            656,250     656,250     656,250     656,250     656,250                      656,249,710 shares
Tambahan modal disetor                 24,965      24,965      24,965      24,965      24,965              Additional paid-in capital
Selisih nilai transaksi dengan                                                                      Difference in value of transaction
  entitas sepengendali                 19,189      19,189      19,189      19,189      19,189               of under common control
Selisih penilaian kembali aset                                                                       Revaluation surplus of property,
  tetap                              1,518,994   1,518,994   1,518,994   1,518,994   1,518,994                   plant and equipment
Selisih kurs penjabaran                  4,567       4,567       4,567       4,567       4,567         Foreign currencies translation
                                                                                                                            differences
Saldo laba                                                                                                           Retained earnings

Telah ditentukan penggunaannya         28,500      29,500      30,500      31,500      32,500                           Appropriated

Belum ditentukan penggunaannya       1,191,979   1,324,103   1,485,358   1,678,788   1,891,873                       unappropriated
Total ekuitas yang dapat                                                                                                Total Equity
diatribusikan kepada                                                                                          attributable to owners
pemilik entitas induk                3,444,444   3,577,568   3,739,823   3,934,252   4,148,338                      parent company
Kepentingan non-pengendali             148,847     157,228     166,448     176,590     187,746               Non-controlling interest
Total Ekuitas                        3,593,291   3,734,797   3,906,271   4,110,842   4,336,084                          Total Equity

TOTAL LIABILITAS DAN EKUITAS         4,356,985   4,392,149   4,540,487   4,740,930   4,989,248         TOTAL LIABILITIES AND EQUITY
Page 19
                                                                                                                                   18

                                                                                                   da l a m juta rupi a h/ i n mi l l i on rupi a h
                                         2024          2025          2026           2027         2028
Penjua l a n neto                       3,619,837     4,148,055     4,556,847      5,005,457    5,497,866                                Net sales

Beba n pokok penjua l a n               (3,057,143)   (3,484,920)   (3,821,845)   (4,186,381)   (4,607,499)                     Cost of goods sold
La ba bruto                                562,694       663,135       735,002       819,076       890,368                            Gross profit

Beba n penjua l a n                      (194,941)     (218,138)     (241,900)     (268,401)     (298,183)                        Selling expenses
Beba n umum da n
a dmi ni s tra s i                       (165,095)     (186,496)     (202,906)     (221,579)     (242,997)         General and administrative
                                                                                                                                   expenses

Penda pa ta n opera s i l a i nnya         17,462        18,923        20,530        22,298        24,243              Other operating income
Beba n opera s i l a i nnya                (1,473)       (1,620)       (1,780)       (1,960)       (2,160)            Other operating expenses

La ba da ri Us a ha                       218,647       275,804       308,946       349,434       371,271              Income from Operations

Beba n keua nga n                         (21,829)      (12,408)        (7,126)       (5,184)        (520)                      Finance expenses
Penda pa ta n keua nga n                    2,155         2,155          2,155         2,155        2,155                         Finance income

La ba s ebel um pa ja k                   198,973       265,552       303,974       346,405       372,906                         Profit before tax
Beba n pa ja k                            (47,250)      (58,421)      (66,875)      (76,209)      (82,040)                           Tax expenses



La ba neto ta hun berja l a n             151,722       207,130       237,100       270,196       290,866               Net income for the year

Pengha s i l a n komprehens i f
l a i nnya                                       -             -             -             -              -      Other comprehensive income
Tota l l a ba komprehens i f
ta hun                                                                                                           Total comprehensive income
    berja l a n                           151,722       207,130       237,100       270,196       290,866                       for the year

Ra s i o Keua nga n                      2024          2025          2026           2027         2028                          Fi na nci a l Ra ti o
Ra s i o Profi ta bi l i ta s (%)                                                                                       Profi ta bi l i ty ra ti o (%)
Ra s i o l a ba a ta s a s et                3.48%         4.72%         5.22%         5.70%         5.83%            Return On As s ets (ROA)

Ra s i o l a ba a ta s ekui ta s             4.22%         5.55%         6.07%         6.57%         6.71%             Return On Equi ty (ROE)

Ra s i o Li kui di ta s (x)                                                                                                     Li qui di ty ra ti o(x)
Ra s i o l a nca r                            3.51          4.55          5.02          5.67          6.04                           Current ra ti o
Ra s i o cepa t                               1.75          2.17          2.55          3.03          3.39                             Qui ck ra ti o

Ra s i o Sol va bi l i ta s (x)                                                                                                Sol vency Ra ti o (x)
Juml a h l i a bi l i ta s / Juml a h
a s et                                        0.18          0.15          0.14          0.13          0.13    Tota l l i a bi l i ta s / Tota l a s s ets
Juml a h l i a bi l i ta s / Juml a h
ekui ta s                                     0.21          0.18          0.16          0.15          0.15    Tota l l i a bi l i ta s / Tota l equi ty




            Hasil kriteria kelayakan dari rencana                                 The results of the feasibility criteria for the
            Penambahan Kegiatan Usaha berdasarkan                                 Additional Business Activities plan based
            laporan studi kelayakan yang disusun oleh KJPP                        on the feasibility study report prepared by
            RSR adalah sebagai berikut:                                           KJPP RSR are as follows:
            Net Present Value    : Rp 240,85 miliar                               Net Present Value : IDR 240.85 billion
            IRR                  : 41,07%                                         IRR                  : 41.07%
            Payback Period        : 5 tahun                                       Payback Period       : 5 years
            Profitability Index   : 4,74                                          Profitability Index : 4.74
Page 20
                                                                                      19


           VII. INFORMASI PENYELENGGARAAN RUPSLB / INFORMATION ON THE EGMS
Perseroan akan menyelenggarakan RUPSLB            The Company will conduct the 2024
2024 untuk antara lain memperoleh                 EGMS, among others, to obtain
persetujuan atas perubahan pasal 3                approval on the amendement of Article
Anggaran Dasar Perseroan tentang                  3 of the Articles of Association of the
maksud dan tujuan serta kegiatan usaha            Company regarding objective, purpose
Perseroan, termasuk pembahasan laporan            and business activities of the Company,
studi kelayakan. RUPSLB 2024 tersebut             including discussion on the feasibility
akan diselenggarakan secara fisik dan             study report. The 2024 EGMS will be
elektronik oleh Perseroan pada :                  held physically and electronically on :

                              Hari / Day    :     Rabu / Wednesday
                          Tanggal / Date    :     12 Juni 2024 / 12 June 2024
                           Waktu / Time     :     10.00 until 11.00 WIB
                         Tempat / Venue     :     Shangri-La Hotel, Jl. Mayjend Sungkono
                                                  120 Pakis, Sawahan, Surabaya, Jawa Timur

Mata acara RUPSLB 2024 adalah sebagai             The agenda items of 2024 EGMS are as
berikut :                                         follows:
1. Persetujuan atas perubahan pasal 3             1. Approval of the amendment to Article
   Anggaran Dasar Perseroan, termasuk                 3 of the Company's Articles of
   pembahasan studi kelayakan atas                    Association, including the discussion of
   penambahan       kegiatan      usaha               the feasibility study on the addition of
   Perseroan.                                         the Company's business activities.
2. Persetujuan     untuk     melakukan            2. Approval to conduct a stock split of the
   pemecahan nilai nominal saham (stock               Company's shares from Rp 1,000 per
   split) Perseroan dari Rp 1.000 per                 share to Rp 100 per share
   saham menjadi Rp 100 per saham.

  Adapun kuorum kehadiran dan kuorum              The attandance and resolution quorum for
  keputusan atas mata acara RUPSLB                the agenda of 2024 EGMS base on the
  2024 berdasarkan ketentuan Anggaran             provisions of the Articles of Association of
  Dasar Perseroan adalah sebagai berikut:         the Company are as follows :

  Untuk rapat pertama :                           First Meeting :
    Untuk mata acara ke 1 dan 2 :                      For the first and second agenda :
  a. Kuorum kehadiran adalah paling                    a. Attendance quorum is at least 2/3
      sedikit 2/3 (dua per tiga) bagian                    (two-thirds) of the total number of
      dari jumlah seluruh saham dengan                     shares with valid voting rights
      hak suara yang sah telah                             issued by the Company.
      dikeluarkan oleh Perseroan.
  b. Kuorum keputusan adalah lebih                   b. Resolution quorum is more than
      dari 2/3(dua per tiga) bagian dari                2/3 (two-thirds) of the total
      jumlah seluruh saham dengan hak                   numberof shares with voting rights
      suara yang hadir dalam rapat.                     present at the meeting

Jika kuorum RUPSLB 2024 tidak terpenuhi,          If the quorum for the 2024 EGMS is not
maka Perseroan dapat mengadakan Rapat             met, then the Company may hold a
Page 21
                                                                               20

Kedua dengan ketentuan kuorum               Second Meeting with the following
kehadiran dan kuorum keputusan sebagai      attendance and resolution quorum
berikut :                                   requirment :
Untuk mata acara ke 1 dan 2 :               For the first and second agenda :
    a. Kuorum kehadiran adalah paling        a. Attendance quorum is at least 3/5
       sedikit 3/5 (tiga per lima) bagian        (three-fifth) of the total number of
       dari jumlah seluruh saham dengan          shares with valid voting rights issued
       hak suara yang sah telah                  by the Company.
       dikeluarkan oleh Perseroan.
    b. Kuorum keputusan adalah lebih        b. Resolution quorum is more than 1/2
       dari 1/2(satu per dua) bagian dari      (one-half) of the total number of
       jumlah seluruh saham dengan hak         shares with voting rights present at
       suara yang hadir dalam rapat            the second meeting.
       kedua.

     Jika kuorum rapat kedua tidak          If the quorum for the second meeting is
     terpenuhi, maka Perseroan dapat        not met, then the Company may hold a
     mengadakan Rapat Ketiga dengan         Third Meeting with the following
     ketentuan kuorum kehadiran dan         attendance and resolution quorum
     kuorum keputusan sebagai berikut :     requirment :
     Untuk mata acara ke 1 dan 2 :          For the first and second agenda : the
     kuorum kehadiran dan kuorum            attendance quorum and resolution
     keputusan adalah sesuai yang           quorum are determined by OJK based on
     ditetapkan   oleh     OJK     atas     request of the Company.
     permohonan Perseroan.
Page 22

          

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linked org PT Indoprima Gemilang p.4 ×3
linked person Wiranto Nurhadi p.4 ×2
linked person Bob Budiono p.4 ×2
linked person Teddy Limyanto p.5
linked person Widjijono Nurhadi p.5
linked person I Gusti Putu Suryawirawan p.5
linked person Jan Burhanudin p.5
possible org Otoritas Jasa Keuangan p.1 ×2
possible person Lioe Cu Ling p.4 ×2
unresolved org Financial Services Authority p.1
unresolved org INDOSPRING Tbk p.1 ×4
unresolved org Pusat Statistik p.2
unresolved person Notary Stefanus Sindunatha p.2 ×2
unresolved org Menteri Kehakiman Republik p.2
unresolved person Notary Notaris Dyah Ambarwaty Setyoso p.3 ×2
unresolved org Menteri p.3
unresolved org Minister of Law and Human dan Hak Asasi Manusia Republik Indonesia p.3
unresolved person Notary Siti Nurul Yuliami p.3 ×2
unresolved org Kementerian Hukum dan Hak Asasi p.3
unresolved org Ministry of Law p.3
unresolved org PT Indoprima p.4
unresolved org PT Indoprima Investama p.4 ×2
unresolved org PT Adimitra Adimitra Jasa Korpora p.4
unresolved person Yuliami S.H. · Notaris p.5
unresolved org Menteri Hukum dan Hak p.5
unresolved org Minister of Law Asasi Manusia No. AHU-AH. p.5
unresolved org Minister of Law and Human Rights p.6
unresolved org KJPP RSR p.8 ×21
unresolved person Yunus N. Purwono p.8 ×2
unresolved person Purwono p.8
unresolved org KJPP RSR's p.8
unresolved org Manufacture Co., Ltd p.12 ×2

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